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83.54571 | Context:2018 a0form 10-k18 item 7 . management 2019s discussion and analysis of financial condition and results of operations . this management 2019s discussion and analysis of financial condition and results of operations should be read in conjunction with our discussion of cautionary statements and significant risks to the company 2019s business under item 1a . risk factors of the 2018 form a010-k . overview our sales and revenues for 2018 were $ 54.722 billion , a 20 a0percent increase from 2017 sales and revenues of $ 45.462 a0billion . the increase was primarily due to higher sales volume , mostly due to improved demand across all regions and across the three primary segments . profit per share for 2018 was $ 10.26 , compared to profit per share of $ 1.26 in 2017 . profit was $ 6.147 billion in 2018 , compared with $ 754 million in 2017 . the increase was primarily due to lower tax expense , higher sales volume , decreased restructuring costs and improved price realization . the increase was partially offset by higher manufacturing costs and selling , general and administrative ( sg&a ) and research and development ( r&d ) expenses and lower profit from the financial products segment . fourth-quarter 2018 sales and revenues were $ 14.342 billion , up $ 1.446 billion , or 11 percent , from $ 12.896 billion in the fourth quarter of 2017 . fourth-quarter 2018 profit was $ 1.78 per share , compared with a loss of $ 2.18 per share in the fourth quarter of 2017 . fourth-quarter 2018 profit was $ 1.048 billion , compared with a loss of $ 1.299 billion in 2017 . highlights for 2018 include : zz sales and revenues in 2018 were $ 54.722 billion , up 20 a0percent from 2017 . sales improved in all regions and across the three primary segments . zz operating profit as a percent of sales and revenues was 15.2 a0percent in 2018 , compared with 9.8 percent in 2017 . adjusted operating profit margin was 15.9 percent in 2018 , compared with 12.5 percent in 2017 . zz profit was $ 10.26 per share for 2018 , and excluding the items in the table below , adjusted profit per share was $ 11.22 . for 2017 profit was $ 1.26 per share , and excluding the items in the table below , adjusted profit per share was $ 6.88 . zz in order for our results to be more meaningful to our readers , we have separately quantified the impact of several significant items: .
|( millions of dollars )|full year 2018 profit before taxes|full year 2018 profitper share|full year 2018 profit before taxes|profitper share|
|profit|$ 7822|$ 10.26|$ 4082|$ 1.26|
|restructuring costs|386|0.50|1256|1.68|
|mark-to-market losses|495|0.64|301|0.26|
|deferred tax valuation allowance adjustments|2014|-0.01 ( 0.01 )|2014|-0.18 ( 0.18 )|
|u.s . tax reform impact|2014|-0.17 ( 0.17 )|2014|3.95|
|gain on sale of equity investment|2014|2014|-85 ( 85 )|-0.09 ( 0.09 )|
|adjusted profit|$ 8703|$ 11.22|$ 5554|$ 6.88|
zz machinery , energy & transportation ( me&t ) operating cash flow for 2018 was about $ 6.3 billion , more than sufficient to cover capital expenditures and dividends . me&t operating cash flow for 2017 was about $ 5.5 billion . restructuring costs in recent years , we have incurred substantial restructuring costs to achieve a flexible and competitive cost structure . during 2018 , we incurred $ 386 million of restructuring costs related to restructuring actions across the company . during 2017 , we incurred $ 1.256 billion of restructuring costs with about half related to the closure of the facility in gosselies , belgium , and the remainder related to other restructuring actions across the company . although we expect restructuring to continue as part of ongoing business activities , restructuring costs should be lower in 2019 than 2018 . notes : zz glossary of terms included on pages 33-34 ; first occurrence of terms shown in bold italics . zz information on non-gaap financial measures is included on pages 42-43. .
Question: what would profit per share be in 2019 with the same growth rate as 2018?\\n\\n | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
1584.0 | Context:we are continuing to invest in people and infrastructure to grow our presence in lines of businesses globally where we see an opportunity for ace to grow market share at reasonable terms . we are also continuing to invest in our enterprise risk management capability , our systems and data environment , and our research and development capabilities . critical accounting estimates our consolidated financial statements include amounts that , either by their nature or due to requirements of accounting princi- ples generally accepted in the u.s . ( gaap ) , are determined using best estimates and assumptions . while we believe that the amounts included in our consolidated financial statements reflect our best judgment , actual amounts could ultimately materi- ally differ from those currently presented . we believe the items that require the most subjective and complex estimates are : 2022 unpaid loss and loss expense reserves , including long-tail asbestos and environmental ( a&e ) reserves ; 2022 future policy benefits reserves ; 2022 valuation of value of business acquired ( voba ) and amortization of deferred policy acquisition costs and voba ; 2022 the assessment of risk transfer for certain structured insurance and reinsurance contracts ; 2022 reinsurance recoverable , including a provision for uncollectible reinsurance ; 2022 impairments to the carrying value of our investment portfolio ; 2022 the valuation of deferred tax assets ; 2022 the valuation of derivative instruments related to guaranteed minimum income benefits ( gmib ) ; and 2022 the valuation of goodwill . we believe our accounting policies for these items are of critical importance to our consolidated financial statements . the following discussion provides more information regarding the estimates and assumptions required to arrive at these amounts and should be read in conjunction with the sections entitled : prior period development , asbestos and environmental and other run-off liabilities , reinsurance recoverable on ceded reinsurance , investments , net realized gains ( losses ) , and other income and expense items . unpaid losses and loss expenses as an insurance and reinsurance company , we are required , by applicable laws and regulations and gaap , to establish loss and loss expense reserves for the estimated unpaid portion of the ultimate liability for losses and loss expenses under the terms of our policies and agreements with our insured and reinsured customers . the estimate of the liabilities includes provisions for claims that have been reported but unpaid at the balance sheet date ( case reserves ) and for future obligations from claims that have been incurred but not reported ( ibnr ) at the balance sheet date ( ibnr may also include a provision for additional devel- opment on reported claims in instances where the case reserve is viewed to be potentially insufficient ) . the reserves provide for liabilities that exist for the company as of the balance sheet date . the loss reserve also includes an estimate of expenses associated with processing and settling these unpaid claims ( loss expenses ) . at december 31 , 2008 , our gross unpaid loss and loss expense reserves were $ 37.2 billion and our net unpaid loss and loss expense reserves were $ 24.2 billion . with the exception of certain structured settlements , for which the timing and amount of future claim payments are reliably determi- nable , our loss reserves are not discounted for the time value of money . in connection with such structured settlements , we carry reserves of $ 106 million ( net of discount ) . the table below presents a roll-forward of our unpaid losses and loss expenses for the indicated periods . ( in millions of u.s . dollars ) losses reinsurance recoverable net losses .
|( in millions of u.s . dollars )|gross losses|reinsurance recoverable|net losses|
|balance at december 31 2006|$ 35517|$ 13509|$ 22008|
|losses and loss expenses incurred|10831|3480|7351|
|losses and loss expenses paid|-9516 ( 9516 )|-3582 ( 3582 )|-5934 ( 5934 )|
|other ( including foreign exchange revaluation )|280|113|167|
|balance at december 31 2007|37112|13520|23592|
|losses and loss expenses incurred|10944|3341|7603|
|losses and loss expenses paid|-9899 ( 9899 )|-3572 ( 3572 )|-6327 ( 6327 )|
|other ( including foreign exchange revaluation )|-1367 ( 1367 )|-387 ( 387 )|-980 ( 980 )|
|losses and loss expenses acquired|386|33|353|
|balance at december 31 2008|$ 37176|$ 12935|$ 24241|
.
Question: what are is the net change in the balance of unpaid losses during 2007? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
22.77778 | Context: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 ) .
||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|
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 .
Question: what is the percentage difference in the number of shares to be issued if the stock price closes at $ 11 compared to if it closes at $ 20? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.29317 | Context: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 ( c o n t i n u e d ) the realization of this investment gain ( $ 5624 net of the award ) . this award , which will be paid out over a three-year period , is presented as deferred compensation award on the balance sheet . as of december 31 , 2002 , $ 1504 had been paid against this compensation award . 401 ( k ) plan during august 1997 , the company implemented a 401 ( k ) savings/retirement plan ( the 201c401 ( k ) plan 201d ) to cover eligible employees of the company and any designated affiliate . the 401 ( k ) plan permits eligible employees of the company to defer up to 15% ( 15 % ) of their annual compensation , subject to cer- tain limitations imposed by the code . the employees 2019 elec- tive deferrals are immediately vested and non-forfeitable upon contribution to the 401 ( k ) plan . during 2000 , the company amended its 401 ( k ) plan to include a matching contribution , subject to erisa limitations , equal to 50% ( 50 % ) of the first 4% ( 4 % ) of annual compensation deferred by an employee . for the years ended december 31 , 2002 , 2001 and 2000 , the company made matching contributions of $ 140 , $ 116 and $ 54 , respectively . 18 . commitments and contingencies the company and the operating partnership are not presently involved in any material litigation nor , to their knowledge , is any material litigation threatened against them or their properties , other than routine litigation arising in the ordinary course of business . management believes the costs , if any , incurred by the company and the operating partnership related to this litigation will not materially affect the financial position , operating results or liquidity of the company and the operating partnership . on october 24 , 2001 , an accident occurred at 215 park avenue south , a property which the company manages , but does not own . personal injury claims have been filed against the company and others by 11 persons . the company believes that there is sufficient insurance coverage to cover the cost of such claims , as well as any other personal injury or property claims which may arise . the company has entered into employment agreements with certain executives . six executives have employment agreements which expire between november 2003 and december 2007 . the cash based compensation associated with these employment agreements totals approximately $ 2125 for 2003 . during march 1998 , the company acquired an operating sub-leasehold position at 420 lexington avenue . the oper- ating sub-leasehold position requires annual ground lease payments totaling $ 6000 and sub-leasehold position pay- ments totaling $ 1100 ( excluding an operating sub-lease position purchased january 1999 ) . the ground lease and sub-leasehold positions expire 2008 . the company may extend the positions through 2029 at market rents . the property located at 1140 avenue of the americas operates under a net ground lease ( $ 348 annually ) with a term expiration date of 2016 and with an option to renew for an additional 50 years . the property located at 711 third avenue operates under an operating sub-lease which expires in 2083 . under the sub- lease , the company is responsible for ground rent payments of $ 1600 annually which increased to $ 3100 in july 2001 and will continue for the next ten years . the ground rent is reset after year ten based on the estimated fair market value of the property . in april 1988 , the sl green predecessor entered into a lease agreement for property at 673 first avenue in new york city , which has been capitalized for financial statement purposes . land was estimated to be approximately 70% ( 70 % ) of the fair market value of the property . the portion of the lease attributed to land is classified as an operating lease and the remainder as a capital lease . the initial lease term is 49 years with an option for an additional 26 years . beginning in lease years 11 and 25 , the lessor is entitled to additional rent as defined by the lease agreement . the company continues to lease the 673 first avenue prop- erty which has been classified as a capital lease with a cost basis of $ 12208 and cumulative amortization of $ 3579 and $ 3306 at december 31 , 2002 and 2001 , respectively . the fol- lowing is a schedule of future minimum lease payments under capital leases and noncancellable operating leases with initial terms in excess of one year as of december 31 , 2002 . non-cancellable operating december 31 , capital leases leases .
|december 31,|capital leases|non-cancellable operating leases|
|2003|$ 1290|$ 11982|
|2004|1290|11982|
|2005|1290|11982|
|2006|1322|11982|
|2007|1416|11982|
|thereafter|56406|296277|
|total minimum lease payments|63014|356187|
|less amount representing interest|47152|2014|
|present value of net minimum lease payments|$ 15862|$ 356187|
19 . financial instruments : derivatives and hedging financial accounting standards board 2019s statement no . 133 , 201caccounting for derivative instruments and hedging activities , 201d ( 201csfas 133 201d ) which became effective january 1 , 2001 requires the company to recognize all derivatives on the balance sheet at fair value . derivatives that are not hedges must be adjusted to fair value through income . if a derivative is a hedge , depending on the nature of the hedge , f i f t y - t w o s l g r e e n r e a l t y c o r p . .
Question: for the 673 first avenue property which has been classified as a capital lease , what percent of the basis was amortized in the year december 31 , 2002? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
589.7 | Context:management 2019s discussion and analysis of financial condition and results of operations 2013 ( continued ) ( amounts in millions , except per share amounts ) 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. .
|balance sheet data|december 31 , 2016|december 31 , 2015|
|cash cash equivalents and marketable securities|$ 1100.6|$ 1509.7|
|short-term borrowings|$ 85.7|$ 132.9|
|current portion of long-term debt|323.9|1.9|
|long-term debt|1280.7|1610.3|
|total debt|$ 1690.3|$ 1745.1|
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 and debt service . 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 . notable funding requirements include : 2022 debt service 2013 our 2.25% ( 2.25 % ) senior notes in aggregate principal amount of $ 300.0 mature on november 15 , 2017 , and a $ 22.6 note classified within our other notes payable is due on june 30 , 2017 . we expect to use available cash to fund the retirement of the outstanding notes upon maturity . the remainder of our debt is primarily long-term , with maturities scheduled through 2024 . see the table below for the maturity schedule of our long-term debt . 2022 acquisitions 2013 we paid cash of $ 52.1 , net of cash acquired of $ 13.6 , for acquisitions completed in 2016 . we also paid $ 0.5 in up-front payments and $ 59.3 in deferred payments for prior-year acquisitions as well as ownership increases in our consolidated subsidiaries . in addition to potential cash expenditures for new acquisitions , we expect to pay approximately $ 77.0 in 2017 related to prior-year acquisitions . we may also be required to pay approximately $ 31.0 in 2017 related to put options held by minority shareholders if exercised . we will continue to evaluate strategic opportunities to grow and continue to strengthen our market position , particularly in our digital and marketing services offerings , and to expand our presence in high-growth and key strategic world markets . 2022 dividends 2013 during 2016 , we paid four quarterly cash dividends of $ 0.15 per share on our common stock , which corresponded to aggregate dividend payments of $ 238.4 . on february 10 , 2017 , we announced that our board of directors ( the 201cboard 201d ) had declared a common stock cash dividend of $ 0.18 per share , payable on march 15 , 2017 to holders of record as of the close of business on march 1 , 2017 . assuming we pay a quarterly dividend of $ 0.18 per share and there is no significant change in the number of outstanding shares as of december 31 , 2016 , we would expect to pay approximately $ 280.0 over the next twelve months. .
Question: what is the net debt if all cash was used to repay debt? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.89103 | Context:continue to be deployed as wireless service providers are beginning their investments in 3g data networks . similarly , in ghana and uganda , wireless service providers continue to build out their voice and data networks in order to satisfy increasing demand for wireless services . in south africa , where voice networks are in a more advanced stage of development , carriers are beginning to deploy 3g data networks across spectrum acquired in recent spectrum auctions . in mexico and brazil , where nationwide voice networks have also been deployed , some incumbent wireless service providers continue to invest in their 3g data networks , and recent spectrum auctions have enabled other incumbent wireless service providers to begin their initial investments in 3g data networks . in markets such as chile , peru and colombia , recent or anticipated spectrum auctions are expected to drive investment in nationwide voice and 3g data networks . in germany , our most mature international wireless market , demand is currently being driven by a government-mandated rural fourth generation network build-out , as well as other tenant initiatives to deploy next generation wireless services . we believe incremental demand for our tower sites will continue in our international markets as wireless service providers seek to remain competitive by increasing the coverage of their networks while also investing in next generation data networks . rental and management operations new site revenue growth . during the year ended december 31 , 2012 , we grew our portfolio of communications real estate through acquisitions and construction activities , including the acquisition and construction of approximately 8810 sites . in a majority of our international markets , the acquisition or construction of new sites results in increased pass-through revenues and expenses . we continue to evaluate opportunities to acquire larger communications real estate portfolios , both domestically and internationally , to determine whether they meet our risk adjusted hurdle rates and whether we believe we can effectively integrate them into our existing portfolio. .
|new sites ( acquired or constructed )|2012|2011|2010|
|domestic|960|470|950|
|international ( 1 )|7850|10000|6870|
( 1 ) the majority of sites acquired or constructed in 2012 were in brazil , germany , india and uganda ; in 2011 were in brazil , colombia , ghana , india , mexico and south africa ; and in 2010 were in chile , colombia , india and peru . network development services segment revenue growth . as we continue to focus on growing our rental and management operations , we anticipate that our network development services revenue will continue to represent a relatively small percentage of our total revenues . through our network development services segment , we offer tower-related services , including site acquisition , zoning and permitting services and structural analysis services , which primarily support our site leasing business and the addition of new tenants and equipment on our sites , including in connection with provider network upgrades . rental and management operations expenses . direct operating expenses incurred by our domestic and international rental and management segments include direct site level expenses and consist primarily of ground rent , property taxes , repairs and maintenance , security and power and fuel costs , some of which may be passed through to our tenants . these segment direct operating expenses exclude all segment and corporate selling , general , administrative and development expenses , which are aggregated into one line item entitled selling , general , administrative and development expense in our consolidated statements of operations . in general , our domestic and international rental and management segments selling , general , administrative and development expenses do not significantly increase as a result of adding incremental tenants to our legacy sites and typically increase only modestly year-over-year . as a result , leasing additional space to new tenants on our legacy sites provides significant incremental cash flow . we may incur additional segment selling , general , administrative and development expenses as we increase our presence in geographic areas where we have recently launched operations or are focused on expanding our portfolio . our profit margin growth is therefore positively impacted by the addition of new tenants to our legacy sites and can be temporarily diluted by our development activities. .
Question: in 2012 , what percent of new sites were foreign? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.86667 | Context:the significant changes from december 31 , 2008 to december 31 , 2009 in level 3 assets and liabilities are due to : a net decrease in trading securities of $ 10.8 billion that was driven by : 2022 net transfers of $ 6.5 billion , due mainly to the transfer of debt 2013 securities from level 3 to level 2 due to increased liquidity and pricing transparency ; and net settlements of $ 5.8 billion , due primarily to the liquidations of 2013 subprime securities of $ 4.1 billion . the change in net trading derivatives driven by : 2022 a net loss of $ 4.9 billion relating to complex derivative contracts , 2013 such as those linked to credit , equity and commodity exposures . these losses include both realized and unrealized losses during 2009 and are partially offset by gains recognized in instruments that have been classified in levels 1 and 2 ; and net increase in derivative assets of $ 4.3 billion , which includes cash 2013 settlements of derivative contracts in an unrealized loss position , notably those linked to subprime exposures . the decrease in level 3 investments of $ 6.9 billion primarily 2022 resulted from : a reduction of $ 5.0 billion , due mainly to paydowns on debt 2013 securities and sales of private equity investments ; the net transfer of investment securities from level 3 to level 2 2013 of $ 1.5 billion , due to increased availability of observable pricing inputs ; and net losses recognized of $ 0.4 billion due mainly to losses on non- 2013 marketable equity securities including write-downs on private equity investments . the decrease in securities sold under agreements to repurchase of 2022 $ 9.1 billion is driven by a $ 8.6 billion net transfers from level 3 to level 2 as effective maturity dates on structured repos have shortened . the decrease in long-term debt of $ 1.5 billion is driven mainly by 2022 $ 1.3 billion of net terminations of structured notes . transfers between level 1 and level 2 of the fair value hierarchy the company did not have any significant transfers of assets or liabilities between levels 1 and 2 of the fair value hierarchy during 2010 . items measured at fair value on a nonrecurring basis certain assets and liabilities are measured at fair value on a nonrecurring basis and therefore are not included in the tables above . these include assets measured at cost that have been written down to fair value during the periods as a result of an impairment . in addition , these assets include loans held-for-sale that are measured at locom that were recognized at fair value below cost at the end of the period . the fair value of loans measured on a locom basis is determined where possible using quoted secondary-market prices . such loans are generally classified as level 2 of the fair value hierarchy given the level of activity in the market and the frequency of available quotes . if no such quoted price exists , the fair value of a loan is determined using quoted prices for a similar asset or assets , adjusted for the specific attributes of that loan . the following table presents all loans held-for-sale that are carried at locom as of december 31 , 2010 and 2009 : in billions of dollars aggregate cost fair value level 2 level 3 .
|in billions of dollars|aggregate cost|fair value|level 2|level 3|
|december 31 2010|$ 3.1|$ 2.5|$ 0.7|$ 1.8|
|december 31 2009|$ 2.5|$ 1.6|$ 0.3|$ 1.3|
.
Question: what was the ratio of the net terminations of structured notes to the decrease in long-term debt | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
1.17087 | Context:united parcel service , inc . and subsidiaries management's discussion and analysis of financial condition and results of operations liquidity and capital resources as of december 31 , 2017 , we had $ 4.069 billion in cash , cash equivalents and marketable securities . we believe that our current cash position , access to the long-term debt capital markets and cash flow generated from operations should be adequate not only for operating requirements but also to enable us to complete our capital expenditure programs and to fund dividend payments , share repurchases and long-term debt payments through the next several years . in addition , we have funds available from our commercial paper program and the ability to obtain alternative sources of financing . we regularly evaluate opportunities to optimize our capital structure , including through issuances of debt to refinance existing debt and to fund ongoing cash needs . cash flows from operating activities the following is a summary of the significant sources ( uses ) of cash from operating activities ( amounts in millions ) : .
||2017|2016|2015|
|net income|$ 4910|$ 3431|$ 4844|
|non-cash operating activities ( 1 )|5776|6444|4122|
|pension and postretirement plan contributions ( ups-sponsored plans )|-7794 ( 7794 )|-2668 ( 2668 )|-1229 ( 1229 )|
|hedge margin receivables and payables|-732 ( 732 )|-142 ( 142 )|170|
|income tax receivables and payables|-550 ( 550 )|-505 ( 505 )|-6 ( 6 )|
|changes in working capital and other non-current assets and liabilities|-178 ( 178 )|-62 ( 62 )|-418 ( 418 )|
|other operating activities|47|-25 ( 25 )|-53 ( 53 )|
|net cash from operating activities|$ 1479|$ 6473|$ 7430|
( 1 ) represents depreciation and amortization , gains and losses on derivative transactions and foreign exchange , deferred income taxes , provisions for uncollectible accounts , pension and postretirement benefit expense , stock compensation expense and other non-cash items . cash from operating activities remained strong throughout 2015 to 2017 . most of the variability in operating cash flows during the 2015 to 2017 time period relates to the funding of our company-sponsored pension and postretirement benefit plans ( and related cash tax deductions ) . except for discretionary or accelerated fundings of our plans , contributions to our company- sponsored pension plans have largely varied based on whether any minimum funding requirements are present for individual pension plans . 2022 we made discretionary contributions to our three primary company-sponsored u.s . pension plans totaling $ 7.291 , $ 2.461 and $ 1.030 billion in 2017 , 2016 and 2015 , respectively . 2022 the remaining contributions from 2015 to 2017 were largely due to contributions to our international pension plans and u.s . postretirement medical benefit plans . apart from the transactions described above , operating cash flow was impacted by changes in our working capital position , payments for income taxes and changes in hedge margin payables and receivables . cash payments for income taxes were $ 1.559 , $ 2.064 and $ 1.913 billion for 2017 , 2016 and 2015 , respectively , and were primarily impacted by the timing of current tax deductions . the net hedge margin collateral ( paid ) /received from derivative counterparties was $ ( 732 ) , $ ( 142 ) and $ 170 million during 2017 , 2016 and 2015 , respectively , due to settlements and changes in the fair value of the derivative contracts used in our currency and interest rate hedging programs . as of december 31 , 2017 , the total of our worldwide holdings of cash , cash equivalents and marketable securities were $ 4.069 billion , of which approximately $ 1.800 billion was held by foreign subsidiaries . the amount of cash , cash equivalents and marketable securities held by our u.s . and foreign subsidiaries fluctuates throughout the year due to a variety of factors , including the timing of cash receipts and disbursements in the normal course of business . cash provided by operating activities in the u.s . continues to be our primary source of funds to finance domestic operating needs , capital expenditures , share repurchases and dividend payments to shareowners . as a result of the tax act , all cash , cash equivalents and marketable securities held by foreign subsidiaries are generally available for distribution to the u.s . without any u.s . federal income taxes . any such distributions may be subject to foreign withholding and u.s . state taxes . when amounts earned by foreign subsidiaries are expected to be indefinitely reinvested , no accrual for taxes is provided. .
Question: what was the percentage change in pension and postretirement plan contributions ( ups-sponsored plans ) from 2015 to 2016? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.01977 | Context:the company recognizes the effect of income tax positions only if sustaining those positions is more likely than not . changes in recognition or measurement are reflected in the period in which a change in judgment occurs . the company records penalties and interest related to unrecognized tax benefits in income taxes in the company 2019s consolidated statements of income . changes in accounting principles business combinations and noncontrolling interests on january 1 , 2009 , the company adopted revised principles related to business combinations and noncontrolling interests . the revised principle on business combinations applies to all transactions or other events in which an entity obtains control over one or more businesses . it requires an acquirer to recognize the assets acquired , the liabilities assumed , and any noncontrolling interest in the acquiree at the acquisition date , measured at their fair values as of that date . business combinations achieved in stages require recognition of the identifiable assets and liabilities , as well as the noncontrolling interest in the acquiree , at the full amounts of their fair values when control is obtained . this revision also changes the requirements for recognizing assets acquired and liabilities assumed arising from contingencies , and requires direct acquisition costs to be expensed . in addition , it provides certain changes to income tax accounting for business combinations which apply to both new and previously existing business combinations . in april 2009 , additional guidance was issued which revised certain business combination guidance related to accounting for contingent liabilities assumed in a business combination . the company has adopted this guidance in conjunction with the adoption of the revised principles related to business combinations . the adoption of the revised principles related to business combinations has not had a material impact on the consolidated financial statements . the revised principle related to noncontrolling interests establishes accounting and reporting standards for the noncontrolling interests in a subsidiary and for the deconsolidation of a subsidiary . the revised principle clarifies that a noncontrolling interest in a subsidiary is an ownership interest in the consolidated entity that should be reported as a separate component of equity in the consolidated statements of financial position . the revised principle requires retrospective adjustments , for all periods presented , of stockholders 2019 equity and net income for noncontrolling interests . in addition to these financial reporting changes , the revised principle provides for significant changes in accounting related to changes in ownership of noncontrolling interests . changes in aon 2019s controlling financial interests in consolidated subsidiaries that do not result in a loss of control are accounted for as equity transactions similar to treasury stock transactions . if a change in ownership of a consolidated subsidiary results in a loss of control and deconsolidation , any retained ownership interests are remeasured at fair value with the gain or loss reported in net income . in previous periods , noncontrolling interests for operating subsidiaries were reported in other general expenses in the consolidated statements of income . prior period amounts have been restated to conform to the current year 2019s presentation . the principal effect on the prior years 2019 balance sheets related to the adoption of the new guidance related to noncontrolling interests is summarized as follows ( in millions ) : .
|as of december 31|2008|2007|
|equity as previously reported|$ 5310|$ 6221|
|increase for reclassification of non-controlling interests|105|40|
|equity as adjusted|$ 5415|$ 6261|
the revised principle also requires that net income be adjusted to include the net income attributable to the noncontrolling interests and a new separate caption for net income attributable to aon stockholders be presented in the consolidated statements of income . the adoption of this new guidance increased net income by $ 16 million and $ 13 million for 2008 and 2007 , respectively . net .
Question: what is the impact of the reclassification of non-controlling interests in equity? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.08918 | Context:republic services , inc . notes to consolidated financial statements 2014 ( continued ) in december 2008 , the board of directors amended and restated the republic services , inc . 2006 incentive stock plan ( formerly known as the allied waste industries , inc . 2006 incentive stock plan ( the 2006 plan ) ) . allied 2019s shareholders approved the 2006 plan in may 2006 . the 2006 plan was amended and restated in december 2008 to reflect republic as the new sponsor of the plan , and that any references to shares of common stock are to shares of common stock of republic , and to adjust outstanding awards and the number of shares available under the plan to reflect the allied acquisition . the 2006 plan , as amended and restated , provided for the grant of non- qualified stock options , incentive stock options , shares of restricted stock , shares of phantom stock , stock bonuses , restricted stock units , stock appreciation rights , performance awards , dividend equivalents , cash awards , or other stock-based awards . awards granted under the 2006 plan prior to december 5 , 2008 became fully vested and nonforfeitable upon the closing of the allied acquisition . no further awards will be made under the 2006 stock options we use a lattice binomial option-pricing model to value our stock option grants . we recognize compensation expense on a straight-line basis over the requisite service period for each separately vesting portion of the award , or to the employee 2019s retirement eligible date , if earlier . expected volatility is based on the weighted average of the most recent one year volatility and a historical rolling average volatility of our stock over the expected life of the option . the risk-free interest rate is based on federal reserve rates in effect for bonds with maturity dates equal to the expected term of the option . we use historical data to estimate future option exercises , forfeitures ( at 3.0% ( 3.0 % ) for each of the periods presented ) and expected life of the options . when appropriate , separate groups of employees that have similar historical exercise behavior are considered separately for valuation purposes . the weighted-average estimated fair values of stock options granted during the years ended december 31 , 2014 , 2013 and 2012 were $ 5.74 , $ 5.27 and $ 4.77 per option , respectively , which were calculated using the following weighted-average assumptions: .
||2014|2013|2012|
|expected volatility|27.5% ( 27.5 % )|28.9% ( 28.9 % )|27.8% ( 27.8 % )|
|risk-free interest rate|1.4% ( 1.4 % )|0.7% ( 0.7 % )|0.8% ( 0.8 % )|
|dividend yield|3.2% ( 3.2 % )|3.2% ( 3.2 % )|3.2% ( 3.2 % )|
|expected life ( in years )|4.6|4.5|4.5|
|contractual life ( in years )|7.0|7.0|7.0|
.
Question: what was the percentage change in the weighted-average estimated fair values of stock options granted from 2013 to 2014 | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.23529 | Context:the authorized costs of $ 76 are to be recovered via a surcharge over a twenty-year period beginning october 2012 . surcharges collected as of december 31 , 2015 and 2014 were $ 4 and $ 5 , respectively . in addition to the authorized costs , the company expects to incur additional costs totaling $ 34 , which will be recovered from contributions made by the california state coastal conservancy . contributions collected as of december 31 , 2015 and 2014 were $ 8 and $ 5 , respectively . regulatory balancing accounts accumulate differences between revenues recognized and authorized revenue requirements until they are collected from customers or are refunded . regulatory balancing accounts include low income programs and purchased power and water accounts . debt expense is amortized over the lives of the respective issues . call premiums on the redemption of long- term debt , as well as unamortized debt expense , are deferred and amortized to the extent they will be recovered through future service rates . purchase premium recoverable through rates is primarily the recovery of the acquisition premiums related to an asset acquisition by the company 2019s california subsidiary during 2002 , and acquisitions in 2007 by the company 2019s new jersey subsidiary . as authorized for recovery by the california and new jersey pucs , these costs are being amortized to depreciation and amortization in the consolidated statements of operations through november 2048 . tank painting costs are generally deferred and amortized to operations and maintenance expense in the consolidated statements of operations on a straight-line basis over periods ranging from five to fifteen years , as authorized by the regulatory authorities in their determination of rates charged for service . other regulatory assets include certain deferred business transformation costs , construction costs for treatment facilities , property tax stabilization , employee-related costs , business services project expenses , coastal water project costs , rate case expenditures and environmental remediation costs among others . these costs are deferred because the amounts are being recovered in rates or are probable of recovery through rates in future periods . regulatory liabilities the regulatory liabilities generally represent probable future reductions in revenues associated with amounts that are to be credited or refunded to customers through the rate-making process . the following table summarizes the composition of regulatory liabilities as of december 31: .
||2015|2014|
|removal costs recovered through rates|$ 311|$ 301|
|pension and other postretirement benefitbalancing accounts|59|54|
|other|32|37|
|total regulatory liabilities|$ 402|$ 392|
removal costs recovered through rates are estimated costs to retire assets at the end of their expected useful life that are recovered through customer rates over the life of the associated assets . in december 2008 , the company 2019s subsidiary in new jersey , at the direction of the new jersey puc , began to depreciate $ 48 of the total balance into depreciation and amortization expense in the consolidated statements of operations via straight line amortization through november 2048 . pension and other postretirement benefit balancing accounts represent the difference between costs incurred and costs authorized by the puc 2019s that are expected to be refunded to customers. .
Question: how much of the additional costs from the california state coastal conservancy is awk expected to collect in 2015? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
1.76744 | Context:standardized maintenance based on an industry trade publication , we operate the eighth largest vocational fleet in the united states . as of december 31 , 2014 , 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|7600|7|
|commercial|4300|7|
|industrial|3900|9|
|total|15800|7.5|
through standardization of core functions , we believe we can minimize variability in our maintenance processes resulting in higher vehicle quality while extending the service life of our fleet . we believe operating a more reliable , safer and efficient fleet will lower our operating costs . we have implemented standardized maintenance programs for approximately 60% ( 60 % ) of our fleet maintenance operations as of december 31 , 2014 . cash utilization strategy key components of our cash utilization strategy include increasing free cash flow and improving our return on invested capital . our definition of free cash flow , which is not a measure determined in accordance with united states generally accepted accounting principles ( u.s . gaap ) , is cash provided by operating activities less purchases of property and equipment , plus proceeds from sales of property and equipment as presented in our consolidated statements of cash flows . for a discussion and reconciliation of free cash flow , you should read the 201cfree cash flow 201d section of our management 2019s discussion and analysis of financial condition and results of operations contained in item 7 of this form 10-k . we believe free cash flow drives shareholder value and provides useful information regarding the recurring cash provided by our operations . free cash flow also demonstrates our ability to execute our cash utilization strategy , which includes investments in acquisitions and returning a majority of free cash flow to our shareholders through dividends and share repurchases . we are committed to an efficient capital structure and maintaining our investment grade credit ratings . we manage our free cash flow by ensuring that capital expenditures and operating asset levels are appropriate in light of our existing business and growth opportunities , and by closely managing our working capital , which consists primarily of accounts receivable , accounts payable , and accrued landfill and environmental costs . dividends in july 2003 , our board of directors initiated a quarterly cash dividend of $ 0.04 per share . our quarterly dividend has increased from time to time thereafter , the latest increase occurring in july 2014 to $ 0.28 per share , representing a 7.7% ( 7.7 % ) increase over that of the prior year . over the last 5 years , our dividend has increased at a compounded annual growth rate of 8.1% ( 8.1 % ) . we expect to continue paying quarterly cash dividends and may consider additional dividend increases if we believe they will enhance shareholder value . share repurchases in october 2013 , our board of directors added $ 650 million to the existing share repurchase authorization originally approved in november 2010 . from november 2010 to december 31 , 2014 , we used $ 1439.5 million to repurchase 46.6 million shares of our common stock at a weighted average cost per share of $ 30.88 . as of december 31 , 2014 , there were $ 360.2 million remaining under our share repurchase authorization . during 2015 , we expect to use our remaining authorization to repurchase more of our outstanding common stock. .
Question: what is the ratio of the residential to the commercial number of vehicles | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
2121.95122 | Context:has decreased during the period from 2002 to 2004 , principally due to the increase in earned premium and due to cost containment measures undertaken by management . in business insurance and personal lines , the expense ratio is expected to decrease further in 2005 , largely as a result of expected increases in earned premium . in specialty commercial , the expense ratio is expected to increase slightly in 2005 due to changes in the business mix , most notably the company 2019s decision in the fourth quarter of 2004 to exit the multi-peril crop insurance program which will eliminate significant expense reimbursements from the specialty commercial segment . policyholder dividend ratio : the policyholder dividend ratio is the ratio of policyholder dividends to earned premium . combined ratio : the combined ratio is the sum of the loss and loss adjustment expense ratio , the expense ratio and the policyholder dividend ratio . this ratio is a relative measurement that describes the related cost of losses and expense for every $ 100 of earned premiums . a combined ratio below 100.0 demonstrates underwriting profit ; a combined ratio above 100.0 demonstrates underwriting losses . the combined ratio has decreased from 2003 to 2004 primarily because of improvement in the expense ratio . the combined ratio in 2005 could be significantly higher or lower than the 2004 combined ratio depending on the level of catastrophe losses , but will also be impacted by changes in pricing and an expected moderation in favorable loss cost trends . catastrophe ratio : the catastrophe ratio ( a component of the loss and loss adjustment expense ratio ) represents the ratio of catastrophe losses ( net of reinsurance ) to earned premiums . a catastrophe is an event that causes $ 25 or more in industry insured property losses and affects a significant number of property and casualty policyholders and insurers . by their nature , catastrophe losses vary dramatically from year to year . based on the mix and geographic dispersion of premium written and estimates derived from various catastrophe loss models , the company 2019s expected catastrophe ratio over the long-term is 3.0 points . before considering the reduction in ongoing operation 2019s catastrophe reserves related to september 11 of $ 298 in 2004 , the catastrophe ratio in 2004 was 5.3 points . see 201crisk management strategy 201d below for a discussion of the company 2019s property catastrophe risk management program that serves to mitigate the company 2019s net exposure to catastrophe losses . combined ratio before catastrophes and prior accident year development : the combined ratio before catastrophes and prior accident year development represents the combined ratio for the current accident year , excluding the impact of catastrophes . the company believes this ratio is an important measure of the trend in profitability since it removes the impact of volatile and unpredictable catastrophe losses and prior accident year reserve development . before considering catastrophes , the combined ratio related to current accident year business has improved from 2002 to 2004 principally due to earned pricing increases and favorable claim frequency . other operations underwriting results : the other operations segment is responsible for managing operations of the hartford that have discontinued writing new or renewal business as well as managing the claims related to asbestos and environmental exposures . as such , neither earned premiums nor underwriting ratios are meaningful financial measures . instead , management believes that underwriting result is a more meaningful measure . the net underwriting loss for 2002 through 2004 is primarily due to prior accident year loss development , including $ 2.6 billion of net asbestos reserve strengthening in 2003 . reserve estimates within other operations , including estimates for asbestos and environmental claims , are inherently uncertain . refer to the other operations segment md&a for further discussion of other operation's underwriting results . total property & casualty investment earnings .
||2004|2003|2002|
|investment yield after-tax|4.1% ( 4.1 % )|4.2% ( 4.2 % )|4.5% ( 4.5 % )|
|net realized capital gains ( losses ) after-tax|$ 87|$ 165|$ -44 ( 44 )|
the investment return , or yield , on property & casualty 2019s invested assets is an important element of the company 2019s earnings since insurance products are priced with the assumption that premiums received can be invested for a period of time before loss and loss adjustment expenses are paid . for longer tail lines , such as workers 2019 compensation and general liability , claims are paid over several years and , therefore , the premiums received for these lines of business can generate significant investment income . him determines the appropriate allocation of investments by asset class and measures the investment yield performance for each asset class against market indices or other benchmarks . due to the emphasis on preservation of capital and the need to maintain sufficient liquidity to satisfy claim obligations , the vast majority of property and casualty 2019s invested assets have been held in fixed maturities , including , among other asset classes , corporate bonds , municipal bonds , government debt , short-term debt , mortgage- .
Question: what is the total value of the investment in 2004? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
5.625 | Context:( 2 ) the company has a master netting arrangement by counterparty with respect to derivative contracts . as of october 29 , 2011 and october 30 , 2010 , contracts in a liability position of $ 0.8 million in each year , were netted against contracts in an asset position in the consolidated balance sheets . ( 3 ) equal to the accreted notional value of the debt plus the fair value of the interest rate component of the long- term debt . the fair value of the long-term debt as of october 29 , 2011 and october 30 , 2010 was $ 413.4 million and $ 416.3 million , respectively . the following methods and assumptions were used by the company in estimating its fair value disclosures for financial instruments : cash equivalents and short-term investments 2014 these investments are adjusted to fair value based on quoted market prices or are determined using a yield curve model based on current market rates . deferred compensation plan investments and other investments 2014 the fair value of these mutual fund , money market fund and equity investments are based on quoted market prices . long-term debt 2014 the fair value of long-term debt is based on quotes received from third-party banks . interest rate swap agreements 2014 the fair value of interest rate swap agreements is based on quotes received from third-party banks . these values represent the estimated amount the company would receive or pay to terminate the agreements taking into consideration current interest rates as well as the creditworthiness of the counterparty . forward foreign currency exchange contracts 2014 the estimated fair value of forward foreign currency exchange contracts , which includes derivatives that are accounted for as cash flow hedges and those that are not designated as cash flow hedges , is based on the estimated amount the company would receive if it sold these agreements at the reporting date taking into consideration current interest rates as well as the creditworthiness of the counterparty for assets and the company 2019s creditworthiness for liabilities . contingent consideration 2014 the fair value of contingent consideration was estimated utilizing the income approach and is based upon significant inputs not observable in the market . changes in the fair value of the contingent consideration subsequent to the acquisition date that are primarily driven by assumptions pertaining to the achievement of the defined milestones will be recognized in operating income in the period of the estimated fair value change . the following table summarizes the change in the fair value of the contingent consideration measured using significant unobservable inputs ( level 3 ) for fiscal 2011 : contingent consideration .
||contingent consideration|
|balance as of october 30 2010|$ 2014|
|contingent consideration liability recorded|13790|
|fair value adjustment|183|
|balance as of october 29 2011|$ 13973|
financial instruments not recorded at fair value on a recurring basis on april 4 , 2011 , the company issued $ 375 million aggregate principal amount of 3.0% ( 3.0 % ) senior unsecured notes due april 15 , 2016 ( the 3.0% ( 3.0 % ) notes ) with semi-annual fixed interest payments due on april 15 and october 15 of each year , commencing october 15 , 2011 . the fair value of the 3.0% ( 3.0 % ) notes as of october 29 , 2011 was $ 392.8 million , based on quotes received from third-party banks . analog devices , inc . notes to consolidated financial statements 2014 ( continued ) .
Question: what is the interest payment of the 3.0% ( 3.0 % ) notes? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.0339 | Context:notes to consolidated financial statements jpmorgan chase & co./2009 annual report 204 on the amount of interest income recognized in the firm 2019s consolidated statements of income since that date . ( b ) other changes in expected cash flows include the net impact of changes in esti- mated prepayments and reclassifications to the nonaccretable difference . on a quarterly basis , the firm updates the amount of loan principal and interest cash flows expected to be collected , incorporating assumptions regarding default rates , loss severities , the amounts and timing of prepayments and other factors that are reflective of current market conditions . probable decreases in expected loan principal cash flows trigger the recognition of impairment , which is then measured as the present value of the expected principal loss plus any related foregone interest cash flows discounted at the pool 2019s effective interest rate . impairments that occur after the acquisition date are recognized through the provision and allow- ance for loan losses . probable and significant increases in expected principal cash flows would first reverse any previously recorded allowance for loan losses ; any remaining increases are recognized prospectively as interest income . the impacts of ( i ) prepayments , ( ii ) changes in variable interest rates , and ( iii ) any other changes in the timing of expected cash flows are recognized prospectively as adjustments to interest income . disposals of loans , which may include sales of loans , receipt of payments in full by the borrower , or foreclosure , result in removal of the loan from the purchased credit-impaired portfolio . if the timing and/or amounts of expected cash flows on these purchased credit-impaired loans were determined not to be rea- sonably estimable , no interest would be accreted and the loans would be reported as nonperforming loans ; however , since the timing and amounts of expected cash flows for these purchased credit-impaired loans are reasonably estimable , interest is being accreted and the loans are being reported as performing loans . charge-offs are not recorded on purchased credit-impaired loans until actual losses exceed the estimated losses that were recorded as purchase accounting adjustments at acquisition date . to date , no charge-offs have been recorded for these loans . purchased credit-impaired loans acquired in the washington mu- tual transaction are reported in loans on the firm 2019s consolidated balance sheets . in 2009 , an allowance for loan losses of $ 1.6 billion was recorded for the prime mortgage and option arm pools of loans . the net aggregate carrying amount of the pools that have an allowance for loan losses was $ 47.2 billion at december 31 , 2009 . this allowance for loan losses is reported as a reduction of the carrying amount of the loans in the table below . the table below provides additional information about these pur- chased credit-impaired consumer loans. .
|december 31 ( in millions )|2009|2008|
|outstanding balance ( a )|$ 103369|$ 118180|
|carrying amount|79664|88813|
( a ) represents the sum of contractual principal , interest and fees earned at the reporting date . purchased credit-impaired loans are also being modified under the mha programs and the firm 2019s other loss mitigation programs . for these loans , the impact of the modification is incorporated into the firm 2019s quarterly assessment of whether a probable and/or signifi- cant change in estimated future cash flows has occurred , and the loans continue to be accounted for as and reported as purchased credit-impaired loans . foreclosed property the firm acquires property from borrowers through loan restructur- ings , workouts , and foreclosures , which is recorded in other assets on the consolidated balance sheets . property acquired may include real property ( e.g. , land , buildings , and fixtures ) and commercial and personal property ( e.g. , aircraft , railcars , and ships ) . acquired property is valued at fair value less costs to sell at acquisition . each quarter the fair value of the acquired property is reviewed and adjusted , if necessary . any adjustments to fair value in the first 90 days are charged to the allowance for loan losses and thereafter adjustments are charged/credited to noninterest revenue 2013other . operating expense , such as real estate taxes and maintenance , are charged to other expense . note 14 2013 allowance for credit losses the allowance for loan losses includes an asset-specific component , a formula-based component and a component related to purchased credit-impaired loans . the asset-specific component relates to loans considered to be impaired , which includes any loans that have been modified in a troubled debt restructuring as well as risk-rated loans that have been placed on nonaccrual status . an asset-specific allowance for impaired loans is established when the loan 2019s discounted cash flows ( or , when available , the loan 2019s observable market price ) is lower than the recorded investment in the loan . to compute the asset-specific component of the allowance , larger loans are evaluated individually , while smaller loans are evaluated as pools using historical loss experience for the respective class of assets . risk-rated loans ( primarily wholesale loans ) are pooled by risk rating , while scored loans ( i.e. , consumer loans ) are pooled by product type . the firm generally measures the asset-specific allowance as the difference between the recorded investment in the loan and the present value of the cash flows expected to be collected , dis- counted at the loan 2019s original effective interest rate . subsequent changes in measured impairment due to the impact of discounting are reported as an adjustment to the provision for loan losses , not as an adjustment to interest income . an asset-specific allowance for an impaired loan with an observable market price is measured as the difference between the recorded investment in the loan and the loan 2019s fair value . certain impaired loans that are determined to be collateral- dependent are charged-off to the fair value of the collateral less costs to sell . when collateral-dependent commercial real-estate loans are determined to be impaired , updated appraisals are typi- cally obtained and updated every six to twelve months . the firm also considers both borrower- and market-specific factors , which .
Question: for 2009 , what is the average reserve percentage for the prime mortgage and option arm pools of loans?\\n\\n | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
51.6129 | Context: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: .
||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 % )|
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 .
Question: based on the current amount of annual amortization , how many years will it take to fully amortize the goodwill balance at december 31 , 2001? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
200.85201 | Context: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 , 2013 to december 31 , 2013 . 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 .
||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 mayyet be purchased under theplans or programs3|
|october 1 - 31|3351759|$ 16.63|3350692|$ 263702132|
|november 1 - 30|5202219|$ 17.00|5202219|$ 175284073|
|december 1 - 31|3323728|$ 17.07|3323728|$ 118560581|
|total|11877706|$ 16.91|11876639||
1 includes 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 1067 withheld shares in october 2013 . no withheld shares were purchased in november or december of 2013 . 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 6 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 2013 , the board authorized a new share repurchase program to repurchase from time to time up to $ 300.0 million , excluding fees , of our common stock ( the 201c2013 share repurchase program 201d ) . in march 2013 , the board authorized an increase in the amount available under our 2013 share repurchase program up to $ 500.0 million , excluding fees , of our common stock . on february 14 , 2014 , 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 available for repurchase under the 2013 share repurchase program . there is no expiration date associated with the share repurchase programs. .
Question: by what amount did the treasury stock increase with the total repurchase of shares during the last three months , ( in millions ) ? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-0.1641 | Context:american tower corporation and subsidiaries notes to consolidated financial statements when they are determined uncollectible . such determination includes analysis and consideration of the particular conditions of the account . changes in the allowances were as follows for the years ended december 31 , ( in thousands ) : .
||2012|2011|2010|
|balance as of january 1|$ 24412|$ 22505|$ 28520|
|current year increases|8028|17008|16219|
|write-offs net of recoveries and other|-12034 ( 12034 )|-15101 ( 15101 )|-22234 ( 22234 )|
|balance as of december 31|$ 20406|$ 24412|$ 22505|
functional currency 2014as a result of changes to the organizational structure of the company 2019s subsidiaries in latin america in 2010 , the company determined that effective january 1 , 2010 , the functional currency of its foreign subsidiary in brazil is the brazilian real . from that point forward , all assets and liabilities held by the subsidiary in brazil are translated into u.s . dollars at the exchange rate in effect at the end of the applicable reporting period . revenues and expenses are translated at the average monthly exchange rates and the cumulative translation effect is included in equity . the change in functional currency from u.s . dollars to brazilian real gave rise to an increase in the net value of certain non-monetary assets and liabilities . the aggregate impact on such assets and liabilities was $ 39.8 million with an offsetting increase in accumulated other comprehensive income during the year ended december 31 , 2010 . as a result of the renegotiation of the company 2019s agreements with grupo iusacell , s.a . de c.v . ( 201ciusacell 201d ) , which included , among other changes , converting iusacell 2019s contractual obligations to the company from u.s . dollars to mexican pesos , the company determined that effective april 1 , 2010 , the functional currency of certain of its foreign subsidiaries in mexico is the mexican peso . from that point forward , all assets and liabilities held by those subsidiaries in mexico are translated into u.s . dollars at the exchange rate in effect at the end of the applicable reporting period . revenues and expenses are translated at the average monthly exchange rates and the cumulative translation effect is included in equity . the change in functional currency from u.s . dollars to mexican pesos gave rise to a decrease in the net value of certain non-monetary assets and liabilities . the aggregate impact on such assets and liabilities was $ 33.6 million with an offsetting decrease in accumulated other comprehensive income . the functional currency of the company 2019s other foreign operating subsidiaries is also the respective local currency . all assets and liabilities held by the subsidiaries are translated into u.s . dollars at the exchange rate in effect at the end of the applicable fiscal reporting period . revenues and expenses are translated at the average monthly exchange rates . the cumulative translation effect is included in equity as a component of accumulated other comprehensive income . foreign currency transaction gains and losses are recognized in the consolidated statements of operations and are the result of transactions of a subsidiary being denominated in a currency other than its functional currency . cash and cash equivalents 2014cash and cash equivalents include cash on hand , demand deposits and short-term investments , including money market funds , with remaining maturities of three months or less when acquired , whose cost approximates fair value . restricted cash 2014the company classifies as restricted cash all cash pledged as collateral to secure obligations and all cash whose use is otherwise limited by contractual provisions , including cash on deposit in reserve accounts relating to the commercial mortgage pass-through certificates , series 2007-1 issued in the company 2019s securitization transaction and the secured cellular site revenue notes , series 2010-1 class c , series 2010-2 class c and series 2010-2 class f , assumed by the company as a result of the acquisition of certain legal entities from unison holdings , llc and unison site management ii , l.l.c . ( collectively , 201cunison 201d ) . .
Question: in 2012 what was the percentage change in the allowances | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.78571 | Context:notes to consolidated financial statements ( continued ) note 8 2014commitments and contingencies ( continued ) provide renewal options for terms of 3 to 7 additional years . leases for retail space are for terms of 5 to 20 years , the majority of which are for 10 years , and often contain multi-year renewal options . as of september 29 , 2007 , the company 2019s total future minimum lease payments under noncancelable operating leases were $ 1.4 billion , of which $ 1.1 billion related to leases for retail space . rent expense under all operating leases , including both cancelable and noncancelable leases , was $ 151 million , $ 138 million , and $ 140 million in 2007 , 2006 , and 2005 , respectively . future minimum lease payments under noncancelable operating leases having remaining terms in excess of one year as of september 29 , 2007 , are as follows ( in millions ) : fiscal years .
|2008|$ 155|
|2009|172|
|2010|173|
|2011|160|
|2012|148|
|thereafter|617|
|total minimum lease payments|$ 1425|
accrued warranty and indemnifications the company offers a basic limited parts and labor warranty on its hardware products . the basic warranty period for hardware products is typically one year from the date of purchase by the end-user . the company also offers a 90-day basic warranty for its service parts used to repair the company 2019s hardware products . the company provides currently for the estimated cost that may be incurred under its basic limited product warranties at the time related revenue is recognized . factors considered in determining appropriate accruals for product warranty obligations include the size of the installed base of products subject to warranty protection , historical and projected warranty claim rates , historical and projected cost-per-claim , and knowledge of specific product failures that are outside of the company 2019s typical experience . the company assesses the adequacy of its preexisting warranty liabilities and adjusts the amounts as necessary based on actual experience and changes in future estimates . for products accounted for under subscription accounting pursuant to sop no . 97-2 , the company recognizes warranty expense as incurred . the company periodically provides updates to its applications and system software to maintain the software 2019s compliance with specifications . the estimated cost to develop such updates is accounted for as warranty costs that are recognized at the time related software revenue is recognized . factors considered in determining appropriate accruals related to such updates include the number of units delivered , the number of updates expected to occur , and the historical cost and estimated future cost of the resources necessary to develop these updates. .
Question: as of september 29 , 2007 , what percent of the company 2019s total future minimum lease payments under noncancelable operating leases were related to leases for retail space? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.02551 | Context:the authorized costs of $ 76 are to be recovered via a surcharge over a twenty-year period beginning october 2012 . surcharges collected as of december 31 , 2015 and 2014 were $ 4 and $ 5 , respectively . in addition to the authorized costs , the company expects to incur additional costs totaling $ 34 , which will be recovered from contributions made by the california state coastal conservancy . contributions collected as of december 31 , 2015 and 2014 were $ 8 and $ 5 , respectively . regulatory balancing accounts accumulate differences between revenues recognized and authorized revenue requirements until they are collected from customers or are refunded . regulatory balancing accounts include low income programs and purchased power and water accounts . debt expense is amortized over the lives of the respective issues . call premiums on the redemption of long- term debt , as well as unamortized debt expense , are deferred and amortized to the extent they will be recovered through future service rates . purchase premium recoverable through rates is primarily the recovery of the acquisition premiums related to an asset acquisition by the company 2019s california subsidiary during 2002 , and acquisitions in 2007 by the company 2019s new jersey subsidiary . as authorized for recovery by the california and new jersey pucs , these costs are being amortized to depreciation and amortization in the consolidated statements of operations through november 2048 . tank painting costs are generally deferred and amortized to operations and maintenance expense in the consolidated statements of operations on a straight-line basis over periods ranging from five to fifteen years , as authorized by the regulatory authorities in their determination of rates charged for service . other regulatory assets include certain deferred business transformation costs , construction costs for treatment facilities , property tax stabilization , employee-related costs , business services project expenses , coastal water project costs , rate case expenditures and environmental remediation costs among others . these costs are deferred because the amounts are being recovered in rates or are probable of recovery through rates in future periods . regulatory liabilities the regulatory liabilities generally represent probable future reductions in revenues associated with amounts that are to be credited or refunded to customers through the rate-making process . the following table summarizes the composition of regulatory liabilities as of december 31: .
||2015|2014|
|removal costs recovered through rates|$ 311|$ 301|
|pension and other postretirement benefitbalancing accounts|59|54|
|other|32|37|
|total regulatory liabilities|$ 402|$ 392|
removal costs recovered through rates are estimated costs to retire assets at the end of their expected useful life that are recovered through customer rates over the life of the associated assets . in december 2008 , the company 2019s subsidiary in new jersey , at the direction of the new jersey puc , began to depreciate $ 48 of the total balance into depreciation and amortization expense in the consolidated statements of operations via straight line amortization through november 2048 . pension and other postretirement benefit balancing accounts represent the difference between costs incurred and costs authorized by the puc 2019s that are expected to be refunded to customers. .
Question: by how much did total regulatory liabilities increase from 2014 to 2015? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
6.30861 | Context:humana inc . notes to consolidated financial statements 2014 ( continued ) 3 . acquisitions on december 21 , 2010 , we acquired concentra inc. , or concentra , a health care company based in addison , texas , for cash consideration of $ 804.7 million . through its affiliated clinicians , concentra delivers occupational medicine , urgent care , physical therapy , and wellness services to workers and the general public through its operation of medical centers and worksite medical facilities . the concentra acquisition provides entry into the primary care space on a national scale , offering additional means for achieving health and wellness solutions and providing an expandable platform for growth with a management team experienced in physician asset management and alternate site care . the preliminary fair values of concentra 2019s assets acquired and liabilities assumed at the date of the acquisition are summarized as follows : concentra ( in thousands ) .
||concentra ( in thousands )|
|cash and cash equivalents|$ 21317|
|receivables|108571|
|other current assets|20589|
|property and equipment|131837|
|goodwill|531372|
|other intangible assets|188000|
|other long-term assets|12935|
|total assets acquired|1014621|
|current liabilities|-100091 ( 100091 )|
|other long-term liabilities|-109811 ( 109811 )|
|total liabilities assumed|-209902 ( 209902 )|
|net assets acquired|$ 804719|
the other intangible assets , which primarily consist of customer relationships and trade name , have a weighted average useful life of 13.7 years . approximately $ 57.9 million of the acquired goodwill is deductible for tax purposes . the purchase price allocation is preliminary , subject to completion of valuation analyses , including , for example , refining assumptions used to calculate the fair value of other intangible assets . the purchase agreement contains provisions under which there may be future consideration paid or received related to the subsequent determination of working capital that existed at the acquisition date . any payments or receipts for provisional amounts for working capital will be recorded as an adjustment to goodwill when paid or received . the results of operations and financial condition of concentra have been included in our consolidated statements of income and consolidated balance sheets from the acquisition date . in connection with the acquisition , we recognized approximately $ 14.9 million of acquisition-related costs , primarily banker and other professional fees , in selling , general and administrative expense . the proforma financial information assuming the acquisition had occurred as of january 1 , 2009 was not material to our results of operations . on october 31 , 2008 , we acquired php companies , inc . ( d/b/a cariten healthcare ) , or cariten , for cash consideration of approximately $ 291.0 million , including the payment of $ 34.9 million during 2010 to settle a purchase price contingency . the cariten acquisition increased our commercial fully-insured and aso presence as well as our medicare hmo presence in eastern tennessee . during 2009 , we continued our review of the fair value estimate of certain other intangible and net tangible assets acquired . this review resulted in a decrease of $ 27.1 million in the fair value of other intangible assets , primarily related to the fair value assigned to the customer contracts acquired . there was a corresponding adjustment to goodwill and deferred income taxes . the .
Question: what are the total current assets for concentra? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
301.16774 | Context:american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) sfas no . 148 . in accordance with apb no . 25 , the company recognizes compensation expense based on the excess , if any , of the quoted stock price at the grant date of the award or other measurement date over the amount an employee must pay to acquire the stock . the company 2019s stock option plans are more fully described in note 14 . in december 2004 , the fasb issued sfas no . 123 ( revised 2004 ) , 201cshare-based payment 201d ( sfas 123r ) , as further described below . during the year ended december 31 , 2005 , the company reevaluated the assumptions used to estimate the fair value of stock options issued to employees . as a result , the company lowered its expected volatility assumption for options granted after july 1 , 2005 to approximately 30% ( 30 % ) and increased the expected life of option grants to 6.25 years using the simplified method permitted by sec sab no . 107 , 201dshare-based payment 201d ( sab no . 107 ) . the company made this change based on a number of factors , including the company 2019s execution of its strategic plans to sell non-core businesses , reduce leverage and refinance its debt , and its recent merger with spectrasite , inc . ( see note 2. ) management had previously based its volatility assumptions on historical volatility since inception , which included periods when the company 2019s capital structure was more highly leveraged than current levels and expected levels for the foreseeable future . management 2019s estimate of future volatility is based on its consideration of all available information , including historical volatility , implied volatility of publicly traded options , the company 2019s current capital structure and its publicly announced future business plans . for comparative purposes , a 10% ( 10 % ) change in the volatility assumption would change pro forma stock option expense and pro forma net loss by approximately $ 0.1 million for the year ended december 31 , 2005 . ( see note 14. ) the following table illustrates the effect on net loss and net loss per common share if the company had applied the fair value recognition provisions of sfas no . 123 ( as amended ) to stock-based compensation . the estimated fair value of each option is calculated using the black-scholes option-pricing model ( in thousands , except per share amounts ) : .
||2005|2004|2003|
|net loss as reported|$ -171590 ( 171590 )|$ -247587 ( 247587 )|$ -325321 ( 325321 )|
|add : stock-based employee compensation expense net of related tax effect included in net loss as reported|7104|2297|2077|
|less : total stock-based employee compensation expense determined under fair value based method for all awards net of related taxeffect|-22238 ( 22238 )|-23906 ( 23906 )|-31156 ( 31156 )|
|pro-forma net loss|$ -186724 ( 186724 )|$ -269196 ( 269196 )|$ -354400 ( 354400 )|
|basic and diluted net loss per share as reported|$ -0.57 ( 0.57 )|$ -1.10 ( 1.10 )|$ -1.56 ( 1.56 )|
|basic and diluted net loss per share pro-forma|$ -0.62 ( 0.62 )|$ -1.20 ( 1.20 )|$ -1.70 ( 1.70 )|
the company has modified certain option awards to revise vesting and exercise terms for certain terminated employees and recognized charges of $ 7.0 million , $ 3.0 million and $ 2.3 million for the years ended december 31 , 2005 , 2004 and 2003 , respectively . in addition , the stock-based employee compensation amounts above for the year ended december 31 , 2005 , include approximately $ 2.4 million of unearned compensation amortization related to unvested stock options assumed in the merger with spectrasite , inc . such charges are reflected in impairments , net loss on sale of long-lived assets , restructuring and merger related expense with corresponding adjustments to additional paid-in capital and unearned compensation in the accompanying consolidated financial statements . recent accounting pronouncements 2014in december 2004 , the fasb issued sfas 123r , which supersedes apb no . 25 , and amends sfas no . 95 , 201cstatement of cash flows . 201d this statement addressed the accounting for share-based payments to employees , including grants of employee stock options . under the new standard .
Question: what is the total number of outstanding shares as of december 31 , 2005 according to pro-forma income , in millions? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
no | Context:management 2019s discussion and analysis sensitivity measures certain portfolios and individual positions are not included in var because var is not the most appropriate risk measure . the market risk of these positions is determined by estimating the potential reduction in net revenues of a 10% ( 10 % ) decline in the underlying asset value . the table below presents market risk for positions that are not included in var . these measures do not reflect diversification benefits across asset categories and therefore have not been aggregated . asset categories 10% ( 10 % ) sensitivity amount as of december in millions 2012 2011 .
|asset categories|asset categories||
|in millions|2012|2011|
|icbc|$ 208|$ 212|
|equity ( excluding icbc ) 1|2263|2458|
|debt2|1676|1521|
equity ( excluding icbc ) 1 2263 2458 debt 2 1676 1521 1 . relates to private and restricted public equity securities , including interests in firm-sponsored funds that invest in corporate equities and real estate and interests in firm-sponsored hedge funds . 2 . primarily relates to interests in our firm-sponsored funds that invest in corporate mezzanine and senior debt instruments . also includes loans backed by commercial and residential real estate , corporate bank loans and other corporate debt , including acquired portfolios of distressed loans . var excludes the impact of changes in counterparty and our own credit spreads on derivatives as well as changes in our own credit spreads on unsecured borrowings for which the fair value option was elected . the estimated sensitivity to a one basis point increase in credit spreads ( counterparty and our own ) on derivatives was a $ 3 million gain ( including hedges ) as of december 2012 . in addition , the estimated sensitivity to a one basis point increase in our own credit spreads on unsecured borrowings for which the fair value option was elected was a $ 7 million gain ( including hedges ) as of december 2012 . however , the actual net impact of a change in our own credit spreads is also affected by the liquidity , duration and convexity ( as the sensitivity is not linear to changes in yields ) of those unsecured borrowings for which the fair value option was elected , as well as the relative performance of any hedges undertaken . the firm engages in insurance activities where we reinsure and purchase portfolios of insurance risk and pension liabilities . the risks associated with these activities include , but are not limited to : equity price , interest rate , reinvestment and mortality risk . the firm mitigates risks associated with insurance activities through the use of reinsurance and hedging . certain of the assets associated with the firm 2019s insurance activities are included in var . in addition to the positions included in var , we held $ 9.07 billion of securities accounted for as available-for- sale as of december 2012 , which support the firm 2019s reinsurance business . as of december 2012 , our available- for-sale securities primarily consisted of $ 3.63 billion of corporate debt securities with an average yield of 4% ( 4 % ) , the majority of which will mature after five years , $ 3.38 billion of mortgage and other asset-backed loans and securities with an average yield of 6% ( 6 % ) , the majority of which will mature after ten years , and $ 856 million of u.s . government and federal agency obligations with an average yield of 3% ( 3 % ) , the majority of which will mature after five years . as of december 2012 , such assets were classified as held for sale and were included in 201cother assets . 201d see note 12 to the consolidated financial statements for further information about assets held for sale . as of december 2011 , we held $ 4.86 billion of securities accounted for as available-for-sale , primarily consisting of $ 1.81 billion of corporate debt securities with an average yield of 5% ( 5 % ) , the majority of which will mature after five years , $ 1.42 billion of mortgage and other asset-backed loans and securities with an average yield of 10% ( 10 % ) , the majority of which will mature after ten years , and $ 662 million of u.s . government and federal agency obligations with an average yield of 3% ( 3 % ) , the majority of which will mature after ten years . in addition , as of december 2012 and december 2011 , we had commitments and held loans for which we have obtained credit loss protection from sumitomo mitsui financial group , inc . see note 18 to the consolidated financial statements for further information about such lending commitments . as of december 2012 , the firm also had $ 6.50 billion of loans held for investment which were accounted for at amortized cost and included in 201creceivables from customers and counterparties , 201d substantially all of which had floating interest rates . the estimated sensitivity to a 100 basis point increase in interest rates on such loans was $ 62 million of additional interest income over a 12-month period , which does not take into account the potential impact of an increase in costs to fund such loans . see note 8 to the consolidated financial statements for further information about loans held for investment . additionally , we make investments accounted for under the equity method and we also make direct investments in real estate , both of which are included in 201cother assets 201d in the consolidated statements of financial condition . direct investments in real estate are accounted for at cost less accumulated depreciation . see note 12 to the consolidated financial statements for information on 201cother assets . 201d goldman sachs 2012 annual report 93 .
Question: was the estimated sensitivity to a one basis point increase in credit spreads ( counterparty and our own ) on derivatives greater than the estimated sensitivity to a one basis point increase in our own credit spreads on unsecured borrowings for which the fair value option was elected as of december 2012? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
581.0 | Context: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 ) .
|2018|$ 131|
|2019|115|
|2020|96|
|2021|86|
|2022|74|
|thereafter|115|
|total|$ 617|
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. .
Question: what were total r&e expenses in millions for 2017 , 2016 and in 2015? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
36.66667 | Context:the hartford financial services group , inc . notes to consolidated financial statements ( continued ) 10 . sales inducements accounting policy the company currently offers enhanced crediting rates or bonus payments to contract holders on certain of its individual and group annuity products . the expense associated with offering a bonus is deferred and amortized over the life of the related contract in a pattern consistent with the amortization of deferred policy acquisition costs . amortization expense associated with expenses previously deferred is recorded over the remaining life of the contract . consistent with the unlock , the company unlocked the amortization of the sales inducement asset . see note 7 for more information concerning the unlock . changes in deferred sales inducement activity were as follows for the years ended december 31: .
||2011|2010|2009|
|balance beginning of year|$ 459|$ 438|$ 553|
|sales inducements deferred|20|31|59|
|amortization charged to income|-17 ( 17 )|-8 ( 8 )|-105 ( 105 )|
|amortization 2014 unlock|-28 ( 28 )|-2 ( 2 )|-69 ( 69 )|
|balance end of year|$ 434|$ 459|$ 438|
11 . reserves for future policy benefits and unpaid losses and loss adjustment expenses life insurance products accounting policy liabilities for future policy benefits are calculated by the net level premium method using interest , withdrawal and mortality assumptions appropriate at the time the policies were issued . the methods used in determining the liability for unpaid losses and future policy benefits are standard actuarial methods recognized by the american academy of actuaries . for the tabular reserves , discount rates are based on the company 2019s earned investment yield and the morbidity/mortality tables used are standard industry tables modified to reflect the company 2019s actual experience when appropriate . in particular , for the company 2019s group disability known claim reserves , the morbidity table for the early durations of claim is based exclusively on the company 2019s experience , incorporating factors such as gender , elimination period and diagnosis . these reserves are computed such that they are expected to meet the company 2019s future policy obligations . future policy benefits are computed at amounts that , with additions from estimated premiums to be received and with interest on such reserves compounded annually at certain assumed rates , are expected to be sufficient to meet the company 2019s policy obligations at their maturities or in the event of an insured 2019s death . changes in or deviations from the assumptions used for mortality , morbidity , expected future premiums and interest can significantly affect the company 2019s reserve levels and related future operations and , as such , provisions for adverse deviation are built into the long-tailed liability assumptions . liabilities for the company 2019s group life and disability contracts , as well as its individual term life insurance policies , include amounts for unpaid losses and future policy benefits . liabilities for unpaid losses include estimates of amounts to fully settle known reported claims , as well as claims related to insured events that the company estimates have been incurred but have not yet been reported . these reserve estimates are based on known facts and interpretations of circumstances , and consideration of various internal factors including the hartford 2019s experience with similar cases , historical trends involving claim payment patterns , loss payments , pending levels of unpaid claims , loss control programs and product mix . in addition , the reserve estimates are influenced by consideration of various external factors including court decisions , economic conditions and public attitudes . the effects of inflation are implicitly considered in the reserving process. .
Question: what was the average sales inducements deferred from 2009 to 2011 in millions | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
8.3 | Context:item 7a . quantitative and qualitative disclosures about market risk ( amounts in millions ) in the normal course of business , we are exposed to market risks related to interest rates , foreign currency rates and certain balance sheet items . from time to time , we use derivative instruments , pursuant to established guidelines and policies , to manage some portion of these risks . derivative instruments utilized in our hedging activities are viewed as risk management tools and are not used for trading or speculative purposes . interest rates our exposure to market risk for changes in interest rates relates primarily to the fair market value and cash flows of our debt obligations . the majority of our debt ( approximately 89% ( 89 % ) and 93% ( 93 % ) as of december 31 , 2013 and 2012 , respectively ) bears interest at fixed rates . we do have debt with variable interest rates , but a 10% ( 10 % ) increase or decrease in interest rates would not be material to our interest expense or cash flows . the fair market value of our debt is sensitive to changes in interest rates , and the impact of a 10% ( 10 % ) change in interest rates is summarized below . increase/ ( decrease ) in fair market value as of december 31 , 10% ( 10 % ) increase in interest rates 10% ( 10 % ) decrease in interest rates .
|as of december 31,|increase/ ( decrease ) in fair market value 10% ( 10 % ) increasein interest rates|increase/ ( decrease ) in fair market value 10% ( 10 % ) decreasein interest rates|
|2013|$ -26.9 ( 26.9 )|$ 27.9|
|2012|-27.5 ( 27.5 )|28.4|
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 , 2013 . we had $ 1642.1 of cash , cash equivalents and marketable securities as of december 31 , 2013 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 2013 and 2012 , we had interest income of $ 24.7 and $ 29.5 , respectively . based on our 2013 results , a 100-basis-point increase or decrease in interest rates would affect our interest income by approximately $ 16.4 , assuming that all cash , cash equivalents and marketable securities are impacted in the same manner and balances remain constant from year-end 2013 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 2013 were the australian dollar , brazilian real , euro , japanese yen and the south african rand . based on 2013 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 between 3% ( 3 % ) and 4% ( 4 % ) , assuming that all currencies are impacted in the same manner and our international revenue and expenses remain constant at 2013 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. .
Question: what is the statistical interval that interest income can be affected during the next year based on the data from 2013? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.3868 | Context:strategy our mission is to achieve sustainable revenue and earnings growth through providing superior solutions to our customers . our strategy to achieve this has been and will continue to be built on the following pillars : 2022 expand client relationships 2014 the overall market we serve continues to gravitate beyond single-product purchases to multi-solution partnerships . as the market dynamics shift , we expect our clients to rely more on our multidimensional service offerings . our leveraged solutions and processing expertise can drive meaningful value and cost savings to our clients through more efficient operating processes , improved service quality and speed for our clients' customers . 2022 buy , build or partner to add solutions to cross-sell 2014 we continue to invest in growth through internal product development , as well as through product-focused or market-centric acquisitions that complement and extend our existing capabilities and provide us with additional solutions to cross-sell . we also partner from time to time with other entities to provide comprehensive offerings to our customers . by investing in solution innovation and integration , we continue to expand our value proposition to clients . 2022 support our clients through market transformation 2014 the changing market dynamics are transforming the way our clients operate , which is driving incremental demand for our leveraged solutions , consulting expertise , and services around intellectual property . our depth of services capabilities enables us to become involved earlier in the planning and design process to assist our clients as they manage through these changes . 2022 continually improve to drive margin expansion 2014 we strive to optimize our performance through investments in infrastructure enhancements and other measures that are designed to drive organic revenue growth and margin expansion . 2022 build global diversification 2014 we continue to deploy resources in emerging global markets where we expect to achieve meaningful scale . revenues by segment the table below summarizes the revenues by our reporting segments ( in millions ) : .
||2012|2011|2010|
|fsg|$ 2246.4|$ 2076.8|$ 1890.8|
|psg|2380.6|2372.1|2354.2|
|isg|1180.5|1177.6|917.0|
|corporate & other|0.1|-0.9 ( 0.9 )|-16.4 ( 16.4 )|
|total consolidated revenues|$ 5807.6|$ 5625.6|$ 5145.6|
financial solutions group the focus of fsg is to provide the most comprehensive software and services for the core processing , customer channel , treasury services , cash management , wealth management and capital market operations of our financial institution customers in north america . we service the core and related ancillary processing needs of north american banks , credit unions , automotive financial companies , commercial lenders , and independent community and savings institutions . fis offers a broad selection of in-house and outsourced solutions to banking customers that span the range of asset sizes . fsg customers are typically committed under multi-year contracts that provide a stable , recurring revenue base and opportunities for cross-selling additional financial and payments offerings . we employ several business models to provide our solutions to our customers . we typically deliver the highest value to our customers when we combine our software applications and deliver them in one of several types of outsourcing arrangements , such as an application service provider , facilities management processing or an application management arrangement . we are also able to deliver individual applications through a software licensing arrangement . based upon our expertise gained through the foregoing arrangements , some clients also retain us to manage their it operations without using any of our proprietary software . our solutions in this segment include: .
Question: what portion of the total consolidated revenues is generated from fsg segment in 2018? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-0.01982 | Context:united parcel service , inc . and subsidiaries management's discussion and analysis of financial condition and results of operations liquidity and capital resources operating activities the following is a summary of the significant sources ( uses ) of cash from operating activities ( amounts in millions ) : .
||2012|2011|2010|
|net income|$ 807|$ 3804|$ 3338|
|non-cash operating activities ( a )|7301|4505|4398|
|pension and postretirement plan contributions ( ups-sponsored plans )|-917 ( 917 )|-1436 ( 1436 )|-3240 ( 3240 )|
|income tax receivables and payables|280|236|-319 ( 319 )|
|changes in working capital and other noncurrent assets and liabilities|-148 ( 148 )|-12 ( 12 )|-340 ( 340 )|
|other operating activities|-107 ( 107 )|-24 ( 24 )|-2 ( 2 )|
|net cash from operating activities|$ 7216|$ 7073|$ 3835|
( a ) represents depreciation and amortization , gains and losses on derivative and foreign exchange transactions , deferred income taxes , provisions for uncollectible accounts , pension and postretirement benefit expense , stock compensation expense , impairment charges and other non-cash items . cash from operating activities remained strong throughout the 2010 to 2012 time period . operating cash flow was favorably impacted in 2012 , compared with 2011 , by lower contributions into our defined benefit pension and postretirement benefit plans ; however , this was partially offset by changes in our working capital position , which was impacted by overall growth in the business . the change in the cash flows for income tax receivables and payables in 2011 and 2010 was primarily related to the timing of discretionary pension contributions during 2010 , as discussed further in the following paragraph . except for discretionary or accelerated fundings of our plans , contributions to our company-sponsored pension plans have largely varied based on whether any minimum funding requirements are present for individual pension plans . 2022 in 2012 , we made a $ 355 million required contribution to the ups ibt pension plan . 2022 in 2011 , we made a $ 1.2 billion contribution to the ups ibt pension plan , which satisfied our 2011 contribution requirements and also approximately $ 440 million in contributions that would not have been required until after 2011 . 2022 in 2010 , we made $ 2.0 billion in discretionary contributions to our ups retirement and ups pension plans , and $ 980 million in required contributions to our ups ibt pension plan . 2022 the remaining contributions in the 2010 through 2012 period were largely due to contributions to our international pension plans and u.s . postretirement medical benefit plans . as discussed further in the 201ccontractual commitments 201d section , we have minimum funding requirements in the next several years , primarily related to the ups ibt pension , ups retirement and ups pension plans . as of december 31 , 2012 , the total of our worldwide holdings of cash and cash equivalents was $ 7.327 billion . approximately $ 4.211 billion of this amount was held in european subsidiaries with the intended purpose of completing the acquisition of tnt express n.v . ( see note 16 to the consolidated financial statements ) . excluding this portion of cash held outside the u.s . for acquisition-related purposes , approximately 50%-60% ( 50%-60 % ) of the remaining cash and cash equivalents are held by foreign subsidiaries throughout the year . the amount of cash held by our u.s . and foreign subsidiaries fluctuates throughout the year due to a variety of factors , including the timing of cash receipts and disbursements in the normal course of business . cash provided by operating activities in the united states continues to be our primary source of funds to finance domestic operating needs , capital expenditures , share repurchases and dividend payments to shareowners . to the extent that such amounts represent previously untaxed earnings , the cash held by foreign subsidiaries would be subject to tax if such amounts were repatriated in the form of dividends ; however , not all international cash balances would have to be repatriated in the form of a dividend if returned to the u.s . when amounts earned by foreign subsidiaries are expected to be indefinitely reinvested , no accrual for taxes is provided. .
Question: what is the percentage change in net cash from operating activities from 2011 to 2012? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.0061 | Context:for intangible assets subject to amortization , the estimated aggregate amortization expense for each of the five succeeding fiscal years is as follows : 2009 - $ 41.1 million , 2010 - $ 27.3 million , 2011 - $ 20.9 million , 2012 - $ 17.0 million , and 2013 - $ 12.0 million . fees and expenses related to the merger totaled $ 102.6 million , principally consisting of investment banking fees , legal fees and stock compensation ( $ 39.4 million as further discussed in note 10 ) , and are reflected in the 2007 results of operations . capitalized debt issuance costs as of the merger date of $ 87.4 million for merger-related financing were reflected in other long- term assets in the consolidated balance sheet . the following represents the unaudited pro forma results of the company 2019s consolidated operations as if the merger had occurred on february 3 , 2007 and february 4 , 2006 , respectively , after giving effect to certain adjustments , including the depreciation and amortization of the assets acquired based on their estimated fair values and changes in interest expense resulting from changes in consolidated debt ( in thousands ) : ( in thousands ) year ended february 1 , year ended february 2 .
|( in thousands )|year endedfebruary 12008|year endedfebruary 22007|
|revenue|$ 9495246|$ 9169822|
|net loss|-57939 ( 57939 )|( 156188 )|
the pro forma information does not purport to be indicative of what the company 2019s results of operations would have been if the acquisition had in fact occurred at the beginning of the periods presented , and is not intended to be a projection of the company 2019s future results of operations . subsequent to the announcement of the merger agreement , the company and its directors , along with other parties , were named in seven putative class actions filed in tennessee state courts alleging claims for breach of fiduciary duty arising out of the proposed merger , all as described more fully under 201clegal proceedings 201d in note 8 below . 3 . strategic initiatives during 2006 , the company began implementing certain strategic initiatives related to its historical inventory management and real estate strategies , as more fully described below . inventory management in november 2006 , the company undertook an initiative to discontinue its historical inventory packaway model for virtually all merchandise by the end of fiscal 2007 . under the packaway model , certain unsold inventory items ( primarily seasonal merchandise ) were stored on-site and returned to the sales floor until the items were eventually sold , damaged or discarded . through end-of-season and other markdowns , this initiative resulted in the elimination of seasonal , home products and basic clothing packaway merchandise to allow for increased levels of newer , current-season merchandise . in connection with this strategic change , in the third quarter of 2006 the company recorded a reserve for lower of cost or market inventory .
Question: what is the net income margin in 2008? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
10863.0 | Context:repatriated , the related u.s . tax liability may be reduced by any foreign income taxes paid on these earnings . as of november 30 , 2012 , the cumulative amount of earnings upon which u.s . income taxes have not been provided is approximately $ 2.9 billion . the unrecognized deferred tax liability for these earnings is approximately $ 0.8 billion . as of november 30 , 2012 , we have u.s . net operating loss carryforwards of approximately $ 33.7 million for federal and $ 77.7 million for state . we also have federal , state and foreign tax credit carryforwards of approximately $ 1.9 million , $ 18.0 million and $ 17.6 million , respectively . the net operating loss carryforward assets , federal tax credits and foreign tax credits will expire in various years from fiscal 2017 through 2032 . the state tax credit carryforwards can be carried forward indefinitely . the net operating loss carryforward assets and certain credits are subject to an annual limitation under internal revenue code section 382 , but are expected to be fully realized . in addition , we have been tracking certain deferred tax attributes of $ 45.0 million which have not been recorded in the financial statements pursuant to accounting standards related to stock-based compensation . these amounts are no longer included in our gross or net deferred tax assets . pursuant to these standards , the benefit of these deferred tax assets will be recorded to equity if and when they reduce taxes payable . as of november 30 , 2012 , a valuation allowance of $ 28.2 million has been established for certain deferred tax assets related to the impairment of investments and certain foreign assets . for fiscal 2012 , the total change in the valuation allowance was $ 23.0 million , of which $ 2.1 million was recorded as a tax benefit through the income statement . accounting for uncertainty in income taxes during fiscal 2012 and 2011 , our aggregate changes in our total gross amount of unrecognized tax benefits are summarized as follows ( in thousands ) : .
||2012|2011|
|beginning balance|$ 163607|$ 156925|
|gross increases in unrecognized tax benefits 2013 prior year tax positions|1038|11901|
|gross decreases in unrecognized tax benefits 2013 prior year tax positions|2014|-4154 ( 4154 )|
|gross increases in unrecognized tax benefits 2013 current year tax positions|23771|32420|
|settlements with taxing authorities|-1754 ( 1754 )|-29101 ( 29101 )|
|lapse of statute of limitations|-25387 ( 25387 )|-3825 ( 3825 )|
|foreign exchange gains and losses|-807 ( 807 )|-559 ( 559 )|
|ending balance|$ 160468|$ 163607|
as of november 30 , 2012 , the combined amount of accrued interest and penalties related to tax positions taken on our tax returns and included in non-current income taxes payable was approximately $ 12.5 million . we file income tax returns in the u.s . on a federal basis and in many u.s . state and foreign jurisdictions . we are subject to the continual examination of our income tax returns by the irs and other domestic and foreign tax authorities . our major tax jurisdictions are the u.s. , ireland and california . for california , ireland and the u.s. , the earliest fiscal years open for examination are 2005 , 2006 and 2008 , respectively . we regularly assess the likelihood of outcomes resulting from these examinations to determine the adequacy of our provision for income taxes and have reserved for potential adjustments that may result from the current examinations . we believe such estimates to be reasonable ; however , there can be no assurance that the final determination of any of these examinations will not have an adverse effect on our operating results and financial position . in august 2011 , a canadian income tax examination covering our fiscal years 2005 through 2008 was completed . our accrued tax and interest related to these years was approximately $ 35 million and was previously reported in long-term income taxes payable . we reclassified approximately $ 17 million to short-term income taxes payable and decreased deferred tax assets by approximately $ 18 million in conjunction with the aforementioned resolution . the timing of the resolution of income tax examinations is highly uncertain as are the amounts and timing of tax payments that are part of any audit settlement process . these events could cause large fluctuations in the balance sheet classification of current and non-current assets and liabilities . the company believes that before the end of fiscal 2013 , it is reasonably possible table of contents adobe systems incorporated notes to consolidated financial statements ( continued ) .
Question: in millions , what as the change in gross increases in unrecognized tax benefits 2013 prior year tax positions between 2012 and 2011? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.339 | Context: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. .
|2017|2016|2015|2014|
|( in thousands )|( in thousands )|( in thousands )|( in thousands )|
|$ 111667|$ 33809|$ 39926|$ 2373|
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 .
Question: what percent of short term borrowing allowance was outstanding in 2017? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
4.52811 | Context:we measure cash flow as net cash provided by operating activities reduced by expenditures for property additions . we use this non-gaap financial measure of cash flow to focus management and investors on the amount of cash available for debt repayment , dividend distributions , acquisition opportunities , and share repurchases . our cash flow metric is reconciled to the most comparable gaap measure , as follows: .
|( dollars in millions )|2012|2011|2010|
|net cash provided by operating activities|$ 1758|$ 1595|$ 1008|
|additions to properties|-533 ( 533 )|-594 ( 594 )|-474 ( 474 )|
|cash flow|$ 1225|$ 1001|$ 534|
|year-over-year change|22.4% ( 22.4 % )|87.5% ( 87.5 % )||
year-over-year change 22.4 % ( % ) 87.5 % ( % ) year-over-year changes in cash flow ( as defined ) were driven by improved performance in working capital resulting from the benefit derived from the pringles acquisition , as well as changes in the level of capital expenditures during the three-year period . investing activities our net cash used in investing activities for 2012 amounted to $ 3245 million , an increase of $ 2658 million compared with 2011 primarily attributable to the $ 2668 acquisition of pringles in capital spending in 2012 included investments in our supply chain infrastructure , and to support capacity requirements in certain markets , including pringles . in addition , we continued the investment in our information technology infrastructure related to the reimplementation and upgrade of our sap platform . net cash used in investing activities of $ 587 million in 2011 increased by $ 122 million compared with 2010 , reflecting capital projects for our reimplementation and upgrade of our sap platform and investments in our supply chain . cash paid for additions to properties as a percentage of net sales has decreased to 3.8% ( 3.8 % ) in 2012 , from 4.5% ( 4.5 % ) in 2011 , which was an increase from 3.8% ( 3.8 % ) in financing activities in february 2013 , we issued $ 250 million of two-year floating-rate u.s . dollar notes , and $ 400 million of ten-year 2.75% ( 2.75 % ) u.s . dollar notes . the proceeds from these notes will be used for general corporate purposes , including , together with cash on hand , repayment of the $ 750 million aggregate principal amount of our 4.25% ( 4.25 % ) u.s . dollar notes due march 2013 . the floating-rate notes bear interest equal to three-month libor plus 23 basis points , subject to quarterly reset . the notes contain customary covenants that limit the ability of kellogg company and its restricted subsidiaries ( as defined ) to incur certain liens or enter into certain sale and lease-back transactions , as well as a change of control provision . our net cash provided by financing activities was $ 1317 for 2012 , compared to net cash used in financing activities of $ 957 and $ 439 for 2011 and 2010 , respectively . the increase in cash provided from financing activities in 2012 compared to 2011 and 2010 , was primarily due to the issuance of debt related to the acquisition of pringles . total debt was $ 7.9 billion at year-end 2012 and $ 6.0 billion at year-end 2011 . in march 2012 , we entered into interest rate swaps on our $ 500 million five-year 1.875% ( 1.875 % ) fixed rate u.s . dollar notes due 2016 , $ 500 million ten-year 4.15% ( 4.15 % ) fixed rate u.s . dollar notes due 2019 and $ 500 million of our $ 750 million seven-year 4.45% ( 4.45 % ) fixed rate u.s . dollar notes due 2016 . the interest rate swaps effectively converted these notes from their fixed rates to floating rate obligations through maturity . in may 2012 , we issued $ 350 million of three-year 1.125% ( 1.125 % ) u.s . dollar notes , $ 400 million of five-year 1.75% ( 1.75 % ) u.s . dollar notes and $ 700 million of ten-year 3.125% ( 3.125 % ) u.s . dollar notes , resulting in aggregate net proceeds after debt discount of $ 1.442 billion . the proceeds of these notes were used for general corporate purposes , including financing a portion of the acquisition of pringles . in may 2012 , we issued cdn . $ 300 million of two-year 2.10% ( 2.10 % ) fixed rate canadian dollar notes , using the proceeds from these notes for general corporate purposes , which included repayment of intercompany debt . this repayment resulted in cash available to be used for a portion of the acquisition of pringles . in december 2012 , we repaid $ 750 million five-year 5.125% ( 5.125 % ) u.s . dollar notes at maturity with commercial paper . in february 2011 , we entered into interest rate swaps on $ 200 million of our $ 750 million seven-year 4.45% ( 4.45 % ) fixed rate u.s . dollar notes due 2016 . the interest rate swaps effectively converted this portion of the notes from a fixed rate to a floating rate obligation through maturity . in april 2011 , we repaid $ 945 million ten-year 6.60% ( 6.60 % ) u.s . dollar notes at maturity with commercial paper . in may 2011 , we issued $ 400 million of seven-year 3.25% ( 3.25 % ) fixed rate u.s . dollar notes , using the proceeds of $ 397 million for general corporate purposes and repayment of commercial paper . during 2011 , we entered into interest rate swaps with notional amounts totaling $ 400 million , which effectively converted these notes from a fixed rate to a floating rate obligation through maturity . in november 2011 , we issued $ 500 million of five-year 1.875% ( 1.875 % ) fixed rate u . s . dollar notes , using the proceeds of $ 498 million for general corporate purposes and repayment of commercial paper . during 2012 , we entered into interest rate swaps which effectively converted these notes from a fixed rate to a floating rate obligation through maturity . in april 2010 , our board of directors approved a share repurchase program authorizing us to repurchase shares of our common stock amounting to $ 2.5 billion during 2010 through 2012 . this three year authorization replaced previous share buyback programs which had authorized stock repurchases of up to $ 1.1 billion for 2010 and $ 650 million for 2009 . under this program , we repurchased approximately 1 million , 15 million and 21 million shares of common stock for $ 63 million , $ 793 million and $ 1.1 billion during 2012 , 2011 and 2010 , respectively . in december 2012 , our board of directors approved a share repurchase program authorizing us to repurchase shares of our common stock amounting to $ 300 million during 2013 . we paid quarterly dividends to shareholders totaling $ 1.74 per share in 2012 , $ 1.67 per share in 2011 and $ 1.56 per share in 2010 . total cash paid for dividends increased by 3.0% ( 3.0 % ) in 2012 and 3.4% ( 3.4 % ) in 2011 . in march 2011 , we entered into an unsecured four- year credit agreement which allows us to borrow , on a revolving credit basis , up to $ 2.0 billion . our long-term debt agreements contain customary covenants that limit kellogg company and some of its subsidiaries from incurring certain liens or from entering into certain sale and lease-back transactions . some agreements also contain change in control provisions . however , they do not contain acceleration of maturity clauses that are dependent on credit ratings . a change in our credit ratings could limit our access to the u.s . short-term debt market and/or increase the cost of refinancing long-term debt in the future . however , even under these circumstances , we would continue to have access to our four-year credit agreement , which expires in march 2015 . this source of liquidity is unused and available on an unsecured basis , although we do not currently plan to use it . capital and credit markets , including commercial paper markets , continued to experience instability and disruption as the u.s . and global economies underwent a period of extreme uncertainty . throughout this period of uncertainty , we continued to have access to the u.s. , european , and canadian commercial paper markets . our commercial paper and term debt credit ratings were not affected by the changes in the credit environment . we monitor the financial strength of our third-party financial institutions , including those that hold our cash and cash equivalents as well as those who serve as counterparties to our credit facilities , our derivative financial instruments , and other arrangements . we are in compliance with all covenants as of december 29 , 2012 . we continue to believe that we will be able to meet our interest and principal repayment obligations and maintain our debt covenants for the foreseeable future , while still meeting our operational needs , including the pursuit of selected bolt-on acquisitions . this will be accomplished through our strong cash flow , our short- term borrowings , and our maintenance of credit facilities on a global basis. .
Question: what percent increase in net cash from investing activities occurred between 2011 and 2012? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.05028 | Context:the company has a restricted stock plan for non-employee directors which reserves for issuance of 300000 shares of the company 2019s common stock . no restricted shares were issued in 2009 . the company has a directors 2019 deferral plan , which provides a means to defer director compensation , from time to time , on a deferred stock or cash basis . as of september 30 , 2009 , 86643 shares were held in trust , of which 4356 shares represented directors 2019 compensation in 2009 , in accordance with the provisions of the plan . under this plan , which is unfunded , directors have an unsecured contractual commitment from the company . the company also has a deferred compensation plan that allows certain highly-compensated employees , including executive officers , to defer salary , annual incentive awards and certain equity-based compensation . as of september 30 , 2009 , 557235 shares were issuable under this plan . note 16 2014 earnings per share the weighted average common shares used in the computations of basic and diluted earnings per share ( shares in thousands ) for the years ended september 30 were as follows: .
||2009|2008|2007|
|average common shares outstanding|240479|244323|244929|
|dilutive share equivalents from share-based plans|6319|8358|9881|
|average common and common equivalent sharesoutstanding 2014 assuming dilution|246798|252681|254810|
average common and common equivalent shares outstanding 2014 assuming dilution . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 246798 252681 254810 note 17 2014 segment data the company 2019s organizational structure is based upon its three principal business segments : bd medical ( 201cmedical 201d ) , bd diagnostics ( 201cdiagnostics 201d ) and bd biosciences ( 201cbiosciences 201d ) . the principal product lines in the medical segment include needles , syringes and intravenous catheters for medication delivery ; safety-engineered and auto-disable devices ; prefilled iv flush syringes ; syringes and pen needles for the self-injection of insulin and other drugs used in the treatment of diabetes ; prefillable drug delivery devices provided to pharmaceutical companies and sold to end-users as drug/device combinations ; surgical blades/scalpels and regional anesthesia needles and trays ; critical care monitoring devices ; ophthalmic surgical instruments ; and sharps disposal containers . the principal products and services in the diagnostics segment include integrated systems for specimen collection ; an extensive line of safety-engineered specimen blood collection products and systems ; plated media ; automated blood culturing systems ; molecular testing systems for sexually transmitted diseases and healthcare-associated infections ; microorganism identification and drug susceptibility systems ; liquid-based cytology systems for cervical cancer screening ; and rapid diagnostic assays . the principal product lines in the biosciences segment include fluorescence activated cell sorters and analyzers ; cell imaging systems ; monoclonal antibodies and kits for performing cell analysis ; reagent systems for life sciences research ; tools to aid in drug discovery and growth of tissue and cells ; cell culture media supplements for biopharmaceutical manufacturing ; and diagnostic assays . the company evaluates performance of its business segments based upon operating income . segment operating income represents revenues reduced by product costs and operating expenses . the company hedges against certain forecasted sales of u.s.-produced products sold outside the united states . gains and losses associated with these foreign currency translation hedges are reported in segment revenues based upon their proportionate share of these international sales of u.s.-produced products . becton , dickinson and company notes to consolidated financial statements 2014 ( continued ) .
Question: as of september 30 , 2009 what was the percent of the shares were held in trust that represented the directors 2019 compensation in accordance with the provisions of the plan . | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.12205 | Context:57management's discussion and analysis of financial condition and results of operations facility include covenants relating to net interest coverage and total debt-to-book capitalization ratios . the company was in compliance with the terms of the 3-year credit facility at december 31 , 2005 . the company has never borrowed under its domestic revolving credit facilities . utilization of the non-u.s . credit facilities may also be dependent on the company's ability to meet certain conditions at the time a borrowing is requested . contractual obligations , guarantees , and other purchase commitments contractual obligations summarized in the table below are the company's obligations and commitments to make future payments under debt obligations ( assuming earliest possible exercise of put rights by holders ) , lease payment obligations , and purchase obligations as of december 31 , 2005 . payments due by period ( 1 ) ( in millions ) total 2006 2007 2008 2009 2010 thereafter .
|( in millions )|payments due by period ( 1 ) total|payments due by period ( 1 ) 2006|payments due by period ( 1 ) 2007|payments due by period ( 1 ) 2008|payments due by period ( 1 ) 2009|payments due by period ( 1 ) 2010|payments due by period ( 1 ) thereafter|
|long-term debt obligations|$ 4033|$ 119|$ 1222|$ 200|$ 2|$ 529|$ 1961|
|lease obligations|1150|438|190|134|109|84|195|
|purchase obligations|992|418|28|3|2|2|539|
|total contractual obligations|$ 6175|$ 975|$ 1440|$ 337|$ 113|$ 615|$ 2695|
( 1 ) amounts included represent firm , non-cancelable commitments . debt obligations : at december 31 , 2005 , the company's long-term debt obligations , including current maturities and unamortized discount and issue costs , totaled $ 4.0 billion , as compared to $ 5.0 billion at december 31 , 2004 . a table of all outstanding long-term debt securities can be found in note 4 , ""debt and credit facilities'' to the company's consolidated financial statements . as previously discussed , the decrease in the long- term debt obligations as compared to december 31 , 2004 , was due to the redemptions and repurchases of $ 1.0 billion principal amount of outstanding securities during 2005 . also , as previously discussed , the remaining $ 118 million of 7.6% ( 7.6 % ) notes due january 1 , 2007 were reclassified to current maturities of long-term debt . lease obligations : the company owns most of its major facilities , but does lease certain office , factory and warehouse space , land , and information technology and other equipment under principally non-cancelable operating leases . at december 31 , 2005 , future minimum lease obligations , net of minimum sublease rentals , totaled $ 1.2 billion . rental expense , net of sublease income , was $ 254 million in 2005 , $ 217 million in 2004 and $ 223 million in 2003 . purchase obligations : the company has entered into agreements for the purchase of inventory , license of software , promotional agreements , and research and development agreements which are firm commitments and are not cancelable . the longest of these agreements extends through 2015 . total payments expected to be made under these agreements total $ 992 million . commitments under other long-term agreements : the company has entered into certain long-term agreements to purchase software , components , supplies and materials from suppliers . most of the agreements extend for periods of one to three years ( three to five years for software ) . however , generally these agreements do not obligate the company to make any purchases , and many permit the company to terminate the agreement with advance notice ( usually ranging from 60 to 180 days ) . if the company were to terminate these agreements , it generally would be liable for certain termination charges , typically based on work performed and supplier on-hand inventory and raw materials attributable to canceled orders . the company's liability would only arise in the event it terminates the agreements for reasons other than ""cause.'' in 2003 , the company entered into outsourcing contracts for certain corporate functions , such as benefit administration and information technology related services . these contracts generally extend for 10 years and are expected to expire in 2013 . the total payments under these contracts are approximately $ 3 billion over 10 years ; however , these contracts can be terminated . termination would result in a penalty substantially less than the annual contract payments . the company would also be required to find another source for these services , including the possibility of performing them in-house . as is customary in bidding for and completing network infrastructure projects and pursuant to a practice the company has followed for many years , the company has a number of performance/bid bonds and standby letters of credit outstanding , primarily relating to projects of government and enterprise mobility solutions segment and the networks segment . these instruments normally have maturities of up to three years and are standard in the .
Question: what percent of the total contractual obligations in 2006 were long-term debt obligations? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
no | Context:the aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2012 , 2011 , and 2010 ( 1 ) a u.s . subsidiary of the company has a defined benefit obligation of $ 764 million and $ 679 million as of december 31 , 2012 and 2011 , respectively , and uses salary bands to determine future benefit costs rather than rates of compensation increases . rates of compensation increases in the table above do not include amounts related to this specific defined benefit plan . ( 2 ) includes an inflation factor that is used to calculate future periodic benefit cost , but is not used to calculate the benefit obligation . the company establishes its estimated long-term return on plan assets considering various factors , which include the targeted asset allocation percentages , historic returns and expected future returns . the measurement of pension obligations , costs and liabilities is dependent on a variety of assumptions . these assumptions include estimates of the present value of projected future pension payments to all plan participants , taking into consideration the likelihood of potential future events such as salary increases and demographic experience . these assumptions may have an effect on the amount and timing of future contributions . the assumptions used in developing the required estimates include the following key factors : 2022 discount rates ; 2022 salary growth ; 2022 retirement rates ; 2022 inflation ; 2022 expected return on plan assets ; and 2022 mortality rates . the effects of actual results differing from the company 2019s assumptions are accumulated and amortized over future periods and , therefore , generally affect the company 2019s recognized expense in such future periods . sensitivity of the company 2019s pension funded status to the indicated increase or decrease in the discount rate and long-term rate of return on plan assets assumptions is shown below . note that these sensitivities may be asymmetric and are specific to the base conditions at year-end 2012 . they also may not be additive , so the impact of changing multiple factors simultaneously cannot be calculated by combining the individual sensitivities shown . the funded status as of december 31 , 2012 is affected by the assumptions as of that date . pension expense for 2012 is affected by the december 31 , 2011 assumptions . the impact on pension expense from a one percentage point change in these assumptions is shown in the table below ( in millions ) : .
|increase of 1% ( 1 % ) in the discount rate|$ -48 ( 48 )|
|decrease of 1% ( 1 % ) in the discount rate|38|
|increase of 1% ( 1 % ) in the long-term rate of return on plan assets|-47 ( 47 )|
|decrease of 1% ( 1 % ) in the long-term rate of return on plan assets|47|
.
Question: was the impact of a decrease of 1% ( 1 % ) in the discount rate greater than the effect of a decrease of 1% ( 1 % ) in the long-term rate of return on plan assets? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-0.1953 | Context:part ii item 5 . market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities our ordinary shares have been publicly traded since november 17 , 2011 when our ordinary shares were listed and began trading on the new york stock exchange ( 201cnyse 201d ) under the symbol 201cdlph . 201d on december 4 , 2017 , following the spin-off of delphi technologies , the company changed its name to aptiv plc and its nyse symbol to 201captv . 201d as of january 25 , 2019 , there were 2 shareholders of record of our ordinary shares . the following graph reflects the comparative changes in the value from december 31 , 2013 through december 31 , 2018 , assuming an initial investment of $ 100 and the reinvestment of dividends , if any in ( 1 ) our ordinary shares , ( 2 ) the s&p 500 index and ( 3 ) the automotive peer group . historical share prices of our ordinary shares have been adjusted to reflect the separation . historical performance may not be indicative of future shareholder returns . stock performance graph * $ 100 invested on december 31 , 2013 in our stock or in the relevant index , including reinvestment of dividends . fiscal year ended december 31 , 2018 . ( 1 ) aptiv plc , adjusted for the distribution of delphi technologies on december 4 , 2017 ( 2 ) s&p 500 2013 standard & poor 2019s 500 total return index ( 3 ) automotive peer group 2013 adient plc , american axle & manufacturing holdings inc , aptiv plc , borgwarner inc , cooper tire & rubber co , cooper- standard holdings inc , dana inc , dorman products inc , ford motor co , garrett motion inc. , general motors co , gentex corp , gentherm inc , genuine parts co , goodyear tire & rubber co , lear corp , lkq corp , meritor inc , motorcar parts of america inc , standard motor products inc , stoneridge inc , superior industries international inc , tenneco inc , tesla inc , tower international inc , visteon corp , wabco holdings inc company index december 31 , december 31 , december 31 , december 31 , december 31 , december 31 .
|company index|december 31 2013|december 31 2014|december 31 2015|december 31 2016|december 31 2017|december 31 2018|
|aptiv plc ( 1 )|$ 100.00|$ 122.75|$ 146.49|$ 117.11|$ 178.46|$ 130.80|
|s&p 500 ( 2 )|100.00|113.69|115.26|129.05|157.22|150.33|
|automotive peer group ( 3 )|100.00|107.96|108.05|107.72|134.04|106.89|
.
Question: what is the difference in percentage performance for aptiv plc versus the s&p 500 for the five year period ending december 31 2018? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-0.21641 | Context: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 .
|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|
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. .
Question: what was the percentage decrease the credit card lines from 2008 to 2009 | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
23.02777 | Context:112 / sl green realty corp . 2017 annual report 20 . commitments and contingencies legal proceedings as of december a031 , 2017 , the company and the operating partnership were not involved in any material litigation nor , to management 2019s knowledge , was any material litigation threat- ened against us or our portfolio which if adversely determined could have a material adverse impact on us . environmental matters our management believes that the properties are in compliance in all material respects with applicable federal , state and local ordinances and regulations regarding environmental issues . management is not aware of any environmental liability that it believes would have a materially adverse impact on our financial position , results of operations or cash flows . management is unaware of any instances in which it would incur significant envi- ronmental cost if any of our properties were sold . employment agreements we have entered into employment agreements with certain exec- utives , which expire between december a02018 and february a02020 . the minimum cash-based compensation , including base sal- ary and guaranteed bonus payments , associated with these employment agreements total $ 5.4 a0million for 2018 . in addition these employment agreements provide for deferred compen- sation awards based on our stock price and which were valued at $ 1.6 a0million on the grant date . the value of these awards may change based on fluctuations in our stock price . insurance we maintain 201call-risk 201d property and rental value coverage ( includ- ing coverage regarding the perils of flood , earthquake and terrorism , excluding nuclear , biological , chemical , and radiological terrorism ( 201cnbcr 201d ) ) , within three property insurance programs and liability insurance . separate property and liability coverage may be purchased on a stand-alone basis for certain assets , such as the development of one vanderbilt . additionally , our captive insurance company , belmont insurance company , or belmont , pro- vides coverage for nbcr terrorist acts above a specified trigger , although if belmont is required to pay a claim under our insur- ance policies , we would ultimately record the loss to the extent of belmont 2019s required payment . however , there is no assurance that in the future we will be able to procure coverage at a reasonable cost . further , if we experience losses that are uninsured or that exceed policy limits , we could lose the capital invested in the damaged properties as well as the anticipated future cash flows from those plan trustees adopted a rehabilitation plan consistent with this requirement . no surcharges have been paid to the pension plan as of december a031 , 2017 . for the pension plan years ended june a030 , 2017 , 2016 , and 2015 , the plan received contributions from employers totaling $ 257.8 a0million , $ 249.5 a0million , and $ 221.9 a0million . our contributions to the pension plan represent less than 5.0% ( 5.0 % ) of total contributions to the plan . the health plan was established under the terms of collective bargaining agreements between the union , the realty advisory board on labor relations , inc . and certain other employees . the health plan provides health and other benefits to eligible participants employed in the building service industry who are covered under collective bargaining agreements , or other writ- ten agreements , with the union . the health plan is administered by a board of trustees with equal representation by the employ- ers and the union and operates under employer identification number a013-2928869 . the health plan receives contributions in accordance with collective bargaining agreements or participa- tion agreements . generally , these agreements provide that the employers contribute to the health plan at a fixed rate on behalf of each covered employee . for the health plan years ended , june a030 , 2017 , 2016 , and 2015 , the plan received contributions from employers totaling $ 1.3 a0billion , $ 1.2 a0billion and $ 1.1 a0billion , respectively . our contributions to the health plan represent less than 5.0% ( 5.0 % ) of total contributions to the plan . contributions we made to the multi-employer plans for the years ended december a031 , 2017 , 2016 and 2015 are included in the table below ( in thousands ) : .
|benefit plan|2017|2016|2015|
|pension plan|$ 3856|$ 3979|$ 2732|
|health plan|11426|11530|8736|
|other plans|1463|1583|5716|
|total plan contributions|$ 16745|$ 17092|$ 17184|
401 ( k ) plan in august a01997 , we implemented a 401 ( k ) a0savings/retirement plan , or the 401 ( k ) a0plan , to cover eligible employees of ours , and any designated affiliate . the 401 ( k ) a0plan permits eligible employees to defer up to 15% ( 15 % ) of their annual compensation , subject to certain limitations imposed by the code . the employees 2019 elective deferrals are immediately vested and non-forfeitable upon contribution to the 401 ( k ) a0plan . during a02003 , we amended our 401 ( k ) a0plan to pro- vide for discretionary matching contributions only . for 2017 , 2016 and 2015 , a matching contribution equal to 50% ( 50 % ) of the first 6% ( 6 % ) of annual compensation was made . for the year ended december a031 , 2017 , we made a matching contribution of $ 728782 . for the years ended december a031 , 2016 and 2015 , we made matching contribu- tions of $ 566000 and $ 550000 , respectively. .
Question: what percentage of total contributions in 2017 was the 2017 pension plan? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-1262.0 | Context:on october 21 , 2004 , the hartford declared a dividend on its common stock of $ 0.29 per share payable on january 3 , 2005 to shareholders of record as of december 1 , 2004 . the hartford declared $ 331 and paid $ 325 in dividends to shareholders in 2004 , declared $ 300 and paid $ 291 in dividends to shareholders in 2003 , declared $ 262 and paid $ 257 in 2002 . aoci - aoci increased by $ 179 as of december 31 , 2004 compared with december 31 , 2003 . the increase in aoci is primarily the result of life 2019s adoption of sop 03-1 , which resulted in a $ 292 cumulative effect for unrealized gains on securities in the first quarter of 2004 related to the reclassification of investments from separate account assets to general account assets , partially offset by net unrealized losses on cash-flow hedging instruments . the funded status of the company 2019s pension and postretirement plans is dependent upon many factors , including returns on invested assets and the level of market interest rates . declines in the value of securities traded in equity markets coupled with declines in long- term interest rates have had a negative impact on the funded status of the plans . as a result , the company recorded a minimum pension liability as of december 31 , 2004 , and 2003 , which resulted in an after-tax reduction of stockholders 2019 equity of $ 480 and $ 375 respectively . this minimum pension liability did not affect the company 2019s results of operations . for additional information on stockholders 2019 equity and aoci see notes 15 and 16 , respectively , of notes to consolidated financial statements . cash flow 2004 2003 2002 .
|cash flow|2004|2003|2002|
|net cash provided by operating activities|$ 2634|$ 3896|$ 2577|
|net cash used for investing activities|$ -2401 ( 2401 )|$ -8387 ( 8387 )|$ -6600 ( 6600 )|
|net cash provided by financing activities|$ 477|$ 4608|$ 4037|
|cash 2014 end of year|$ 1148|$ 462|$ 377|
2004 compared to 2003 2014 cash from operating activities primarily reflects premium cash flows in excess of claim payments . the decrease in cash provided by operating activities was due primarily to the $ 1.15 billion settlement of the macarthur litigation in 2004 . cash provided by financing activities decreased primarily due to lower proceeds from investment and universal life-type contracts as a result of the adoption of sop 03-1 , decreased capital raising activities , repayment of commercial paper and early retirement of junior subordinated debentures in 2004 . the decrease in cash from financing activities and operating cash flows invested long-term accounted for the majority of the change in cash used for investing activities . 2003 compared to 2002 2014 the increase in cash provided by operating activities was primarily the result of strong premium cash flows . financing activities increased primarily due to capital raising activities related to the 2003 asbestos reserve addition and decreased due to repayments on long-term debt and lower proceeds from investment and universal life-type contracts . the increase in cash from financing activities accounted for the majority of the change in cash used for investing activities . operating cash flows in each of the last three years have been adequate to meet liquidity requirements . equity markets for a discussion of the potential impact of the equity markets on capital and liquidity , see the capital markets risk management section under 201cmarket risk 201d . ratings ratings are an important factor in establishing the competitive position in the insurance and financial services marketplace . there can be no assurance that the company's ratings will continue for any given period of time or that they will not be changed . in the event the company's ratings are downgraded , the level of revenues or the persistency of the company's business may be adversely impacted . on august 4 , 2004 , moody 2019s affirmed the company 2019s and hartford life , inc . 2019s a3 senior debt ratings as well as the aa3 insurance financial strength ratings of both its property-casualty and life insurance operating subsidiaries . in addition , moody 2019s changed the outlook for all of these ratings from negative to stable . since the announcement of the suit filed by the new york attorney general 2019s office against marsh & mclennan companies , inc. , and marsh , inc . on october 14 , 2004 , the major independent ratings agencies have indicated that they continue to monitor developments relating to the suit . on october 22 , 2004 , standard & poor 2019s revised its outlook on the u.s . property/casualty commercial lines sector to negative from stable . on november 23 , 2004 , standard & poor 2019s revised its outlook on the financial strength and credit ratings of the property-casualty insurance subsidiaries to negative from stable . the outlook on the life insurance subsidiaries and corporate debt was unaffected. .
Question: what is the chance in net cash flow generated from operating activities from 2003 to 2004? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
127.69831 | Context:issuer purchases of equity securities during the three months ended december 31 , 2007 , we repurchased 8895570 shares of our class a common stock for an aggregate of $ 385.1 million pursuant to the $ 1.5 billion stock repurchase program publicly announced in february 2007 , as follows : period total number of shares purchased ( 1 ) average price paid per share total number of shares purchased as part of publicly announced plans or programs approximate dollar value of shares that may yet be purchased under the plans or programs ( in millions ) .
|period|total number of shares purchased ( 1 )|average price paid per share|total number of shares purchased as part of publicly announced plans or programs|approximate dollar value of shares that may yet be purchased under the plans or programs ( in millions )|
|october 2007|3493426|$ 43.30|3493426|$ 449.9|
|november 2007|2891719|$ 44.16|2891719|$ 322.2|
|december 2007|2510425|$ 44.20|2510425|$ 216.2|
|total fourth quarter|8895570|$ 43.27|8895570|$ 216.2|
( 1 ) issuer repurchases pursuant to the $ 1.5 billion stock repurchase program publicly announced in february 2007 . under this program , our management was authorized through february 2008 to purchase shares from time to time through open market purchases or privately negotiated transactions at prevailing prices as permitted by securities laws and other legal requirements , and subject to market conditions and other factors . to facilitate repurchases , we typically made purchases pursuant to trading plans under rule 10b5-1 of the exchange act , which allow us to repurchase shares during periods when we otherwise might be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods . subsequent to december 31 , 2007 , we repurchased 4.3 million shares of our class a common stock for an aggregate of $ 163.7 million pursuant to this program . in february 2008 , our board of directors approved a new stock repurchase program , pursuant to which we are authorized to purchase up to an additional $ 1.5 billion of our class a common stock . purchases under this stock repurchase program are subject to us having available cash to fund repurchases , as further described in item 1a of this annual report under the caption 201crisk factors 2014we anticipate that we may need additional financing to fund our stock repurchase programs , to refinance our existing indebtedness and to fund future growth and expansion initiatives 201d and item 7 of this annual report under the caption 201cmanagement 2019s discussion and analysis of financial condition and results of operations 2014liquidity and capital resources . 201d .
Question: what is the total amount spent for stock repurchase during november 2007 , in millions? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
5.0 | Context:table of contents notes to consolidated financial statements of american airlines , inc . american files its tax returns as prescribed by the tax laws of the jurisdictions in which it operates . american 2019s 2004 through 2013 tax years are still subject to examination by the internal revenue service . various state and foreign jurisdiction tax years remain open to examination and american is under examination , in administrative appeals , or engaged in tax litigation in certain jurisdictions . american believes that the effect of additional assessments will be immaterial to its consolidated financial statements . american has an unrecognized tax benefit of approximately $ 5 million , which did not change during the twelve months ended december 31 , 2014 . changes in the unrecognized tax benefit have no impact on the effective tax rate due to the existence of the valuation allowance . accrued interest on tax positions is recorded as a component of interest expense but was not significant at december 31 , 2014 . the reconciliation of the beginning and ending amounts of unrecognized tax benefit are ( in millions ) : .
||2014|2013|
|unrecognized tax benefit at january 1|$ 5|$ 5|
|no activity|2014|2014|
|unrecognized tax benefit at december 31|$ 5|$ 5|
american estimates that the unrecognized tax benefit will be realized within the next twelve months . 8 . risk management and financial instruments american 2019s economic prospects are heavily dependent upon two variables it cannot control : the health of the economy and the price of fuel . due to the discretionary nature of business and leisure travel spending , airline industry revenues are heavily influenced by the condition of the u.s . economy and economies in other regions of the world . unfavorable conditions in these broader economies have resulted , and may result in the future , in decreased passenger demand for air travel and changes in booking practices , both of which in turn have had , and may have in the future , a strong negative effect on american 2019s revenues . in addition , during challenging economic times , actions by our competitors to increase their revenues can have an adverse impact on american 2019s revenues . american 2019s operating results are materially impacted by changes in the availability , price volatility and cost of aircraft fuel , which represents one of the largest single cost items in american 2019s business . because of the amount of fuel needed to operate american 2019s business , even a relatively small increase in the price of fuel can have a material adverse aggregate effect on american 2019s operating results and liquidity . jet fuel market prices have fluctuated substantially over the past several years and prices continued to be volatile in 2014 . these factors could impact american 2019s results of operations , financial performance and liquidity . ( a ) fuel price risk management during the second quarter of 2014 , american sold its portfolio of fuel hedging contracts that were scheduled to settle on or after june 30 , 2014 . american has not entered into any transactions to hedge its fuel consumption since december 9 , 2013 and , accordingly , as of december 31 , 2014 , american did not have any fuel hedging contracts outstanding . as such , and assuming american does not enter into any future transactions to hedge its fuel consumption , american will continue to be fully exposed to fluctuations in fuel prices . american 2019s current policy is not to enter into transactions to hedge its fuel consumption , although american reviews that policy from time to time based on market conditions and other factors. .
Question: what was the unrecognized tax benefit at december 31 , 2013? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
4.22 | Context:table of contents index to financial statements item 3 . legal proceedings . item 4 . mine safety disclosures . not applicable . part ii price range our common stock trades on the nasdaq global select market under the symbol 201cmktx 201d . the range of closing price information for our common stock , as reported by nasdaq , was as follows : on february 16 , 2012 , the last reported closing price of our common stock on the nasdaq global select market was $ 32.65 . holders there were 41 holders of record of our common stock as of february 16 , 2012 . dividend policy we initiated a regular quarterly dividend in the fourth quarter of 2009 . during 2010 and 2011 , we paid quarterly cash dividends of $ 0.07 per share and $ 0.09 per share , respectively . in january 2012 , our board of directors approved a quarterly cash dividend of $ 0.11 per share payable on march 1 , 2012 to stockholders of record as of the close of business on february 16 , 2012 . any future declaration and payment of dividends will be at the sole discretion of the company 2019s board of directors . the board of directors may take into account such matters as general business conditions , the company 2019s financial results , capital requirements , contractual , legal , and regulatory restrictions on the payment of dividends to the company 2019s stockholders or by the company 2019s subsidiaries to the parent and any such other factors as the board of directors may deem relevant . recent sales of unregistered securities item 5 . market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities. .
|2011:|high|low|
|january 1 2011 to march 31 2011|$ 24.19|$ 19.78|
|april 1 2011 to june 30 2011|$ 25.22|$ 21.00|
|july 1 2011 to september 30 2011|$ 30.75|$ 23.41|
|october 1 2011 to december 31 2011|$ 31.16|$ 24.57|
|2010:|high|low|
|january 1 2010 to march 31 2010|$ 16.20|$ 13.25|
|april 1 2010 to june 30 2010|$ 17.40|$ 13.45|
|july 1 2010 to september 30 2010|$ 17.30|$ 12.39|
|october 1 2010 to december 31 2010|$ 20.93|$ 16.93|
.
Question: for the period from april 1 2011 to june 30 2011 , what was the difference between high and low stock price? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
533.8 | Context:liquidity and capital resources we maintained a strong financial position throughout 2018 and as of 30 september 2018 our consolidated balance sheet included cash and cash items of $ 2791.3 . we continue to have consistent access to commercial paper markets , and cash flows from operating and financing activities are expected to meet liquidity needs for the foreseeable future . as of 30 september 2018 , we had $ 995.1 of foreign cash and cash items compared to a total amount of cash and cash items of $ 2791.3 . as a result of the tax act , we currently do not expect that a significant portion of the earnings of our foreign subsidiaries and affiliates will be subject to u.s . income tax upon subsequent repatriation to the united states . depending on the country in which the subsidiaries and affiliates reside , the repatriation of these earnings may be subject to foreign withholding and other taxes . however , since we have significant current investment plans outside the u.s. , it is our intent to permanently reinvest the majority of our foreign cash and cash items that would be subject to additional taxes outside the u.s . refer to note 22 , income taxes , for additional information . our cash flows from operating , investing , and financing activities from continuing operations , as reflected in the consolidated statements of cash flows , are summarized in the following table: .
|cash provided by ( used for )|2018|2017|2016|
|operating activities|$ 2554.7|$ 2534.1|$ 2258.8|
|investing activities|-1649.1 ( 1649.1 )|-1417.7 ( 1417.7 )|-864.8 ( 864.8 )|
|financing activities|-1359.8 ( 1359.8 )|-2040.9 ( 2040.9 )|-860.2 ( 860.2 )|
operating activities for the year ended 2018 , cash provided by operating activities was $ 2554.7 . income from continuing operations of $ 1455.6 was adjusted for items including depreciation and amortization , deferred income taxes , impacts from the tax act , undistributed earnings of unconsolidated affiliates , share-based compensation , and noncurrent capital lease receivables . other adjustments of $ 131.6 include a $ 54.9 net impact from the remeasurement of intercompany transactions . the related hedging instruments that eliminate the earnings impact are included as a working capital adjustment in other receivables or payables and accrued liabilities . in addition , other adjustments were impacted by cash received from the early termination of a cross currency swap of $ 54.4 , as well as the excess of pension expense over pension contributions of $ 23.5 . the working capital accounts were a use of cash of $ 265.4 , primarily driven by payables and accrued liabilities , inventories , and trade receivables , partially offset by other receivables . the use of cash in payables and accrued liabilities of $ 277.7 includes a decrease in customer advances of $ 145.7 primarily related to sale of equipment activity and $ 67.1 for maturities of forward exchange contracts that hedged foreign currency exposures . the use of cash in inventories primarily resulted from the purchase of helium molecules . in addition , inventories reflect the noncash impact of our change in accounting for u.s . inventories from lifo to fifo . the source of cash from other receivables of $ 123.6 was primarily due to the maturities of forward exchange contracts that hedged foreign currency exposures for the year ended 2017 , cash provided by operating activities was $ 2534.1 . income from continuing operations of $ 1134.4 included a goodwill and intangible asset impairment charge of $ 162.1 , an equity method investment impairment charge of $ 79.5 , and a write-down of long-lived assets associated with restructuring of $ 69.2 . refer to note 5 , cost reduction and asset actions ; note 8 , summarized financial information of equity affiliates ; note 10 , goodwill ; and note 11 , intangible assets , of the consolidated financial statements for additional information on these charges . other adjustments of $ 165.4 included changes in uncertain tax positions and the fair value of foreign exchange contracts that hedge intercompany loans as well as pension contributions and expense . the working capital accounts were a source of cash of $ 48.0 that were primarily driven by payables and accrued liabilities and other receivables , partially offset by other working capital and trade receivables . the increase in payables and accrued liabilities of $ 163.8 was primarily due to timing differences related to payables and accrued liabilities and an increase in customer advances of $ 52.8 primarily related to sale of equipment activity . the source of cash from other receivables of $ 124.7 was primarily due to the maturities of forward exchange contracts that hedged foreign currency exposures . other working capital was a use of cash of $ 154.0 , primarily driven by payments for income taxes . trade receivables was a use of cash of $ 73.6 which is primarily due to timing differences. .
Question: what is the final amount of cash and cash equivalents in 2016? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-172.0 | Context:the performance units granted to certain executives in fiscal 2014 were based on a one-year performance period . after the compensation committee certified the performance results , 25% ( 25 % ) of the performance units converted to unrestricted shares . the remaining 75% ( 75 % ) converted to restricted shares that vest in equal installments on each of the first three anniversaries of the conversion date . the performance units granted to certain executives during fiscal 2015 were based on a three-year performance period . after the compensation committee certifies the performance results for the three-year period , performance units earned will convert into unrestricted common stock . the compensation committee may set a range of possible performance-based outcomes for performance units . depending on the achievement of the performance measures , the grantee may earn up to 200% ( 200 % ) of the target number of shares . for awards with only performance conditions , we recognize compensation expense over the performance period using the grant date fair value of the award , which is based on the number of shares expected to be earned according to the level of achievement of performance goals . if the number of shares expected to be earned were to change at any time during the performance period , we would make a cumulative adjustment to share-based compensation expense based on the revised number of shares expected to be earned . during fiscal 2015 , certain executives were granted performance units that we refer to as leveraged performance units , or lpus . lpus contain a market condition based on our relative stock price growth over a three-year performance period . the lpus contain a minimum threshold performance which , if not met , would result in no payout . the lpus also contain a maximum award opportunity set as a fixed dollar and fixed number of shares . after the three-year performance period , one-third of any earned units converts to unrestricted common stock . the remaining two-thirds convert to restricted stock that will vest in equal installments on each of the first two anniversaries of the conversion date . we recognize share-based compensation expense based on the grant date fair value of the lpus , as determined by use of a monte carlo model , on a straight-line basis over the requisite service period for each separately vesting portion of the lpu award . total shareholder return units before fiscal 2015 , certain of our executives were granted total shareholder return ( 201ctsr 201d ) units , which are performance-based restricted stock units that are earned based on our total shareholder return over a three-year performance period compared to companies in the s&p 500 . once the performance results are certified , tsr units convert into unrestricted common stock . depending on our performance , the grantee may earn up to 200% ( 200 % ) of the target number of shares . the target number of tsr units for each executive is set by the compensation committee . we recognize share-based compensation expense based on the grant date fair value of the tsr units , as determined by use of a monte carlo model , on a straight-line basis over the vesting period . the following table summarizes the changes in unvested share-based awards for the years ended may 31 , 2015 and 2014 ( shares in thousands ) : shares weighted-average grant-date fair value .
||shares|weighted-averagegrant-datefair value|
|unvested at may 31 2013|1096|$ 44|
|granted|544|47|
|vested|-643 ( 643 )|45|
|forfeited|-120 ( 120 )|45|
|unvested at may 31 2014|877|45|
|granted|477|72|
|vested|-324 ( 324 )|46|
|forfeited|-106 ( 106 )|53|
|unvested at may 31 2015|924|$ 58|
global payments inc . | 2015 form 10-k annual report 2013 81 .
Question: what is the net change in the balance of unvested shares from 2013 to 2015? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.15228 | Context:republic services , inc . notes to consolidated financial statements 2014 ( continued ) charges or other amounts due that are probable at settlement . the aggregate cash surrender value of these life insurance policies was $ 90.5 million and $ 77.1 million as of december 31 , 2015 and 2014 , respectively , and is classified in other assets in our consolidated balance sheets . the dcp liability was $ 83.3 million and $ 76.3 million as of december 31 , 2015 and 2014 , respectively , and is classified in other long-term liabilities in our consolidated balance sheets . employee stock purchase plan republic employees are eligible to participate in an employee stock purchase plan . the plan allows participants to purchase our common stock for 95% ( 95 % ) of its quoted market price on the last day of each calendar quarter . for the years ended december 31 , 2015 , 2014 and 2013 , issuances under this plan totaled 141055 shares , 139941 shares and 142217 shares , respectively . as of december 31 , 2015 , shares reserved for issuance to employees under this plan totaled 0.6 million and republic held employee contributions of approximately $ 1.4 million for the purchase of common stock . 12 . stock repurchases and dividends stock repurchases stock repurchase activity during the years ended december 31 , 2015 and 2014 follows ( in millions except per share amounts ) : .
||2015|2014|
|number of shares repurchased|9.8|11.1|
|amount paid|$ 404.7|$ 400.4|
|weighted average cost per share|$ 41.39|$ 35.92|
as of december 31 , 2015 , 0.1 million repurchased shares were pending settlement and $ 3.7 million were unpaid and included within our accrued liabilities . in october 2015 , our board of directors added $ 900.0 million to the existing share repurchase authorization , which now extends through december 31 , 2017 . share repurchases under the program may be made through open market purchases or privately negotiated transactions in accordance with applicable federal securities laws . while the board of directors has approved the program , the timing of any purchases , the prices and the number of shares of common stock to be purchased will be determined by our management , at its discretion , and will depend upon market conditions and other factors . the share repurchase program may be extended , suspended or discontinued at any time . as of december 31 , 2015 , the october 2015 repurchase program had remaining authorized purchase capacity of $ 855.5 million . in december 2015 , our board of directors changed the status of 71272964 treasury shares to authorized and unissued . in doing so , the number of our issued shares was reduced by the stated amount . our accounting policy is to deduct the par value from common stock and to reflect the excess of cost over par value as a deduction from additional paid-in capital . the change in unissued shares resulted in a reduction of $ 2295.3 million in treasury stock , $ 0.6 million in common stock , and $ 2294.7 million in additional paid-in capital . there was no effect on our total stockholders 2019 equity position as a result of the change . dividends in october 2015 , our board of directors approved a quarterly dividend of $ 0.30 per share . cash dividends declared were $ 404.3 million , $ 383.6 million and $ 357.3 million for the years ended december 31 , 2015 , 2014 and 2013 , respectively . as of december 31 , 2015 , we recorded a quarterly dividend payable of $ 103.7 million to shareholders of record at the close of business on january 4 , 2016. .
Question: what was the percentage change in the weighted average cost per share from 2014 to 2015 | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
4.43081 | Context:republic services , inc . notes to consolidated financial statements 2014 ( continued ) credit exposure , we continually monitor the credit worthiness of the financial institutions where we have deposits . concentrations of credit risk with respect to trade accounts receivable are limited due to the wide variety of customers and markets in which we provide services , as well as the dispersion of our operations across many geographic areas . we provide services to commercial , industrial , municipal and residential customers in the united states and puerto rico . we perform ongoing credit evaluations of our customers , but generally do not require collateral to support customer receivables . we establish an allowance for doubtful accounts based on various factors including the credit risk of specific customers , age of receivables outstanding , historical trends , economic conditions and other information . accounts receivable , net of allowance for doubtful accounts accounts receivable represent receivables from customers for collection , transfer , recycling , disposal and other services . our receivables are recorded when billed or when the related revenue is earned , if earlier , and represent claims against third parties that will be settled in cash . the carrying value of our receivables , net of the allowance for doubtful accounts , represents their estimated net realizable value . provisions for doubtful accounts are evaluated on a monthly basis and are recorded based on our historical collection experience , the age of the receivables , specific customer information and economic conditions . we also review outstanding balances on an account-specific basis . in general , reserves are provided for accounts receivable in excess of 90 days outstanding . past due receivable balances are written-off when our collection efforts have been unsuccessful in collecting amounts due . the following table reflects the activity in our allowance for doubtful accounts for the years ended december 31 , 2013 , 2012 and 2011: .
||2013|2012|2011|
|balance at beginning of year|$ 45.3|$ 48.1|$ 50.9|
|additions charged to expense|16.1|29.7|21.0|
|accounts written-off|-23.1 ( 23.1 )|-32.5 ( 32.5 )|-23.8 ( 23.8 )|
|balance at end of year|$ 38.3|$ 45.3|$ 48.1|
restricted cash and marketable securities as of december 31 , 2013 , we had $ 169.7 million of restricted cash and marketable securities . we obtain funds through the issuance of tax-exempt bonds for the purpose of financing qualifying expenditures at our landfills , transfer stations , collection and recycling centers . the funds are deposited directly into trust accounts by the bonding authorities at the time of issuance . as the use of these funds is contractually restricted , and we do not have the ability to use these funds for general operating purposes , they are classified as restricted cash and marketable securities in our consolidated balance sheets . in the normal course of business , we may be required to provide financial assurance to governmental agencies and a variety of other entities in connection with municipal residential collection contracts , closure or post- closure of landfills , environmental remediation , environmental permits , and business licenses and permits as a financial guarantee of our performance . at several of our landfills , we satisfy financial assurance requirements by depositing cash into restricted trust funds or escrow accounts . property and equipment we record property and equipment at cost . expenditures for major additions and improvements to facilities are capitalized , while maintenance and repairs are charged to expense as incurred . when property is retired or .
Question: as of december 31 , 2013 what was the ratio of the restricted cash and marketable securities to the balance in the allowance for doubtful accounts | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.28261 | Context:2022 the failure of our information systems to function as intended or their penetration by outside parties with the intent to corrupt them or our failure to comply with privacy laws and regulations could result in business disruption , litigation and regulatory action , and loss of revenue , assets or personal or other confidential data . we use information systems to help manage business processes , collect and interpret business data and communicate internally and externally with employees , suppliers , customers and others . some of these information systems are managed by third-party service providers . we have backup systems and business continuity plans in place , and we take care to protect our systems and data from unauthorized access . nevertheless , failure of our systems to function as intended , or penetration of our systems by outside parties intent on extracting or corrupting information or otherwise disrupting business processes , could place us at a competitive disadvantage , result in a loss of revenue , assets or personal or other sensitive data , litigation and regulatory action , cause damage to our reputation and that of our brands and result in significant remediation and other costs . failure to protect personal data and respect the rights of data subjects could subject us to substantial fines under regulations such as the eu general data protection regulation . 2022 we may be required to replace third-party contract manufacturers or service providers with our own resources . in certain instances , we contract with third parties to manufacture some of our products or product parts or to provide other services . we may be unable to renew these agreements on satisfactory terms for numerous reasons , including government regulations . accordingly , our costs may increase significantly if we must replace such third parties with our own resources . item 1b . unresolved staff comments . item 2 . properties . at december 31 , 2017 , we operated and owned 46 manufacturing facilities and maintained contract manufacturing relationships with 25 third-party manufacturers across 23 markets . in addition , we work with 38 third-party operators in indonesia who manufacture our hand-rolled cigarettes . pmi-owned manufacturing facilities eema asia america canada total .
||eu ( 1 )|eema|asia|latinamerica&canada|total|
|fully integrated|7|8|9|7|31|
|make-pack|3|2014|1|2|6|
|other|3|1|3|2|9|
|total|13|9|13|11|46|
( 1 ) includes facilities that produced heated tobacco units in 2017 . in 2017 , 23 of our facilities each manufactured over 10 billion cigarettes , of which eight facilities each produced over 30 billion units . our largest factories are in karawang and sukorejo ( indonesia ) , izmir ( turkey ) , krakow ( poland ) , st . petersburg and krasnodar ( russia ) , batangas and marikina ( philippines ) , berlin ( germany ) , kharkiv ( ukraine ) , and kutna hora ( czech republic ) . our smallest factories are mostly in latin america and asia , where due to tariff and other constraints we have established small manufacturing units in individual markets . we will continue to optimize our manufacturing base , taking into consideration the evolution of trade blocks . the plants and properties owned or leased and operated by our subsidiaries are maintained in good condition and are believed to be suitable and adequate for our present needs . we are integrating the production of heated tobacco units into a number of our existing manufacturing facilities and progressing with our plans to build manufacturing capacity for our other rrp platforms. .
Question: what percentage of pmi-owned manufacturing facilities eema asia america canada are in eu? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.33333 | Context:in direct competition with other co2 pipelines . we also compete with other interest owners in the mcelmo dome unit and the bravo dome unit for transportation of co2 to the denver city , texas market area . terminals our terminals segment includes the operations of our refined petroleum product , crude oil , chemical , ethanol and other liquid terminal facilities ( other than those included in the products pipelines segment ) and all of our coal , petroleum coke , fertilizer , steel , ores and other dry-bulk terminal facilities . our terminals are located throughout the u.s . and in portions of canada . we believe the location of our facilities and our ability to provide flexibility to customers help attract new and retain existing customers at our terminals and provide expansion opportunities . we often classify our terminal operations based on the handling of either liquids or dry-bulk material products . in addition , terminals 2019 marine operations include jones act qualified product tankers that provide marine transportation of crude oil , condensate and refined petroleum products in the u.s . the following summarizes our terminals segment assets , as of december 31 , 2016 : number capacity ( mmbbl ) .
||number|capacity ( mmbbl )|
|liquids terminals|51|85.2|
|bulk terminals|37|2014|
|jones act tankers|12|4.0|
competition we are one of the largest independent operators of liquids terminals in north america , based on barrels of liquids terminaling capacity . our liquids terminals compete with other publicly or privately held independent liquids terminals , and terminals owned by oil , chemical , pipeline , and refining companies . our bulk terminals compete with numerous independent terminal operators , terminals owned by producers and distributors of bulk commodities , stevedoring companies and other industrial companies opting not to outsource terminaling services . in some locations , competitors are smaller , independent operators with lower cost structures . our jones act qualified product tankers compete with other jones act qualified vessel fleets. .
Question: what is the average capacity in mmbbl of jones act tankers? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
309.0 | Context:over 1 million customers . edc also provides 2265 mw of installed capacity through its generation facilities in venezuela . the purchase price allocation was as follows ( in millions ) : .
|purchase price|$ 1700|
|less : stockholders' equity of edc||
|capital stock|-508 ( 508 )|
|paid-in surplus|-245 ( 245 )|
|retained earnings|-1353 ( 1353 )|
|treasury stock|323|
|adjustment of assets and liabilities to fair value:||
|property and equipment|-1578 ( 1578 )|
|deferred income tax asset|231|
|employee severance plan|157|
|investment in subsidiaries|36|
|elimination of intangible asset 2013 goodwill|7|
|other net assets|-51 ( 51 )|
|goodwill 2013 negative|$ -1281 ( 1281 )|
property and equipment was reduced by the negative goodwill . the cost of the acquisition was allocated on the basis of estimated fair value of the assets acquired and liabilities assumed , primarily based upon an independent appraisal . as of december 31 , 2000 , the severance plan was completed and the workforce was reduced by approximately 2500 people . all of the costs associated with the plan were recorded during 2000 , and all of the cash payments were made in 2000 . in august 2000 , a subsidiary of the company completed the acquisition of a 59% ( 59 % ) equity interest in a hidroelectrica alicura s.a . ( 2018 2018alicura 2019 2019 ) in argentina from southern energy , inc . and its partners . alicura operates a 1000 mw peaking hydro facility located in the province of neuquen , argentina . the purchase price of approximately $ 205 million includes the assumption of existing non-recourse debt . in december 2000 a subsidiary of the company acquired an additional 39% ( 39 % ) ownership interest in alicura , 19.5% ( 19.5 % ) ownership interests each from the federal government of argentina and the province of neuquen , for approximately $ 9 million . at december 31 , 2000 , the company 2019s ownership interest was 98% ( 98 % ) . the employees of alicura own the remaining 2% ( 2 % ) . all of the purchase price was allocated to property , plant and equipment and is being depreciated over the useful life . in october 2000 , a subsidiary of the company completed the acquisition of reliant energy international 2019s 50% ( 50 % ) interest in el salvador energy holdings , s.a . ( 2018 2018eseh 2019 2019 ) that owns three distribution companies in el salvador . the purchase price for this interest in eseh was approximately $ 173 million . the three distribution companies , compania de alumbrado electrico de san salvador , s.a . de c.v. , empresa electrica de oriente , s.a . de c.v . and distribuidora electrica de usulutan , s.a . de c.v . serve 3.5 million people , approximately 60% ( 60 % ) of the population of el salvador , including the capital city of san salvador . a subsidiary of the company had previously acquired a 50% ( 50 % ) interest in eseh through its acquisition of edc . through the purchase of reliant energy international 2019s ownership interest , the company owns a controlling interest in the three distribution companies . the total purchase price for 100% ( 100 % ) of the interest in eseh approximated $ 325 million , of which approximately $ 176 million was allocated to goodwill and is being amortized over 40 years . in december 2000 , the company acquired all of the outstanding shares of kmr power corporation ( 2018 2018kmr 2019 2019 ) , including the buyout of a minority partner in one of kmr 2019s subsidiaries , for approximately $ 64 million and assumed long-term liabilities of approximately $ 245 million . the acquisition was financed through the issuance of approximately 699000 shares of aes common stock and cash . kmr owns a controlling interest in two gas-fired power plants located in cartagena , colombia : a 100% ( 100 % ) interest in the 314 mw termocandelaria power plant and a 66% ( 66 % ) interest in the 100 .
Question: what was the total price for the kmr power corporation purchase in millions? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
2.77586 | Context:notes to consolidated financial statements 2013 ( continued ) ( amounts in millions , except per share amounts ) debt transactions see note 6 for further information regarding the company 2019s acquisition of acxiom ( the 201cacxiom acquisition 201d ) on october 1 , 2018 ( the 201cclosing date 201d ) . senior notes on september 21 , 2018 , in order to fund the acxiom acquisition and related fees and expenses , we issued a total of $ 2000.0 in aggregate principal amount of unsecured senior notes ( in four separate series of $ 500.0 each , together , the 201csenior notes 201d ) . upon issuance , the senior notes were reflected on our consolidated balance sheets net of discount of $ 5.8 and net of the capitalized debt issuance costs , including commissions and offering expenses of $ 16.1 , both of which will be amortized in interest expense through the respective maturity dates of each series of senior notes using the effective interest method . interest is payable semi-annually in arrears on april 1st and october 1st of each year , commencing on april 1 , 2019 . the issuance was comprised of the following four series of notes : senior notes par value discount at issuance net price at issuance issuance cost net proceeds .
|senior notes|par value|discount at issuance|net price at issuance|issuance cost|net proceeds|
|3.50% ( 3.50 % ) senior notes due 2020|$ 500.0|$ 1.0|$ 499.0|$ 2.9|$ 496.1|
|3.75% ( 3.75 % ) senior notes due 2021|500.0|0.3|499.7|3.2|496.5|
|4.65% ( 4.65 % ) senior notes due 2028|500.0|1.7|498.3|4.4|493.9|
|5.40% ( 5.40 % ) senior notes due 2048|500.0|2.8|497.2|5.6|491.6|
|total|$ 2000.0|$ 5.8|$ 1994.2|$ 16.1|$ 1978.1|
consistent with our other debt securities , the newly issued senior notes include covenants that , among other things , limit our liens and the liens of certain of our consolidated subsidiaries , but do not require us to maintain any financial ratios or specified levels of net worth or liquidity . we may redeem each series of the senior notes at any time in whole or from time to time in part in accordance with the provisions of the indenture , including the applicable supplemental indenture , under which such series of senior notes was issued . if the acxiom acquisition had been terminated or had not closed on or prior to june 30 , 2019 , we would have been required to redeem the senior notes due 2020 , 2021 and 2028 at a redemption price equal to 101% ( 101 % ) of the principal amount thereof , plus accrued and unpaid interest . additionally , upon the occurrence of a change of control repurchase event with respect to the senior notes , each holder of the senior notes has the right to require the company to purchase that holder 2019s senior notes at a price equal to 101% ( 101 % ) of the principal amount thereof , plus accrued and unpaid interest , unless the company has exercised its option to redeem all the senior notes . term loan agreement on october 1 , 2018 , in order to fund the acxiom acquisition and related fees and expenses , we borrowed $ 500.0 through debt financing arrangements with third-party lenders under a three-year term loan agreement ( the 201cterm loan agreement 201d ) , $ 100.0 of which we paid down on december 3 , 2018 . consistent with our other debt securities , the term loan agreement includes covenants that , among other things , limit our liens and the liens of certain of our consolidated subsidiaries . in addition , it requires us to maintain the same financial maintenance covenants as discussed below . loans under the term loan bear interest at a variable rate based on , at the company 2019s option , either the base rate or the eurodollar rate ( each as defined in the term loan agreement ) plus an applicable margin that is determined based on our credit ratings . as of december 31 , 2018 , the applicable margin was 0.25% ( 0.25 % ) for base rate loans and 1.25% ( 1.25 % ) for eurodollar rate loans. .
Question: what was the ratio of the issuance costs to the discount at issuance | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
4242.0 | Context:morgan stanley notes to consolidated financial statements 2014 ( continued ) the following table presents a reconciliation of the beginning and ending amount of unrecognized tax benefits for 2013 , 2012 and 2011 ( dollars in millions ) : unrecognized tax benefits .
|balance at december 31 2010|$ 3711|
|increase based on tax positions related to the current period|412|
|increase based on tax positions related to prior periods|70|
|decreases based on tax positions related to prior periods|-79 ( 79 )|
|decreases related to settlements with taxing authorities|-56 ( 56 )|
|decreases related to a lapse of applicable statute of limitations|-13 ( 13 )|
|balance at december 31 2011|$ 4045|
|increase based on tax positions related to the current period|$ 299|
|increase based on tax positions related to prior periods|127|
|decreases based on tax positions related to prior periods|-21 ( 21 )|
|decreases related to settlements with taxing authorities|-260 ( 260 )|
|decreases related to a lapse of applicable statute of limitations|-125 ( 125 )|
|balance at december 31 2012|$ 4065|
|increase based on tax positions related to the current period|$ 51|
|increase based on tax positions related to prior periods|267|
|decreases based on tax positions related to prior periods|-141 ( 141 )|
|decreases related to settlements with taxing authorities|-146 ( 146 )|
|balance at december 31 2013|$ 4096|
the company is under continuous examination by the irs and other tax authorities in certain countries , such as japan and the u.k. , and in states in which the company has significant business operations , such as new york . the company is currently under review by the irs appeals office for the remaining issues covering tax years 1999 2013 2005 . also , the company is currently at various levels of field examination with respect to audits by the irs , as well as new york state and new york city , for tax years 2006 2013 2008 and 2007 2013 2009 , respectively . during 2014 , the company expects to reach a conclusion with the u.k . tax authorities on substantially all issues through tax year 2010 . the company believes that the resolution of tax matters will not have a material effect on the consolidated statements of financial condition of the company , although a resolution could have a material impact on the company 2019s consolidated statements of income for a particular future period and on the company 2019s effective income tax rate for any period in which such resolution occurs . the company has established a liability for unrecognized tax benefits that the company believes is adequate in relation to the potential for additional assessments . once established , the company adjusts unrecognized tax benefits only when more information is available or when an event occurs necessitating a change . the company periodically evaluates the likelihood of assessments in each taxing jurisdiction resulting from the expiration of the applicable statute of limitations or new information regarding the status of current and subsequent years 2019 examinations . as part of the company 2019s periodic review , federal and state unrecognized tax benefits were released or remeasured . as a result of this remeasurement , the income tax provision included a discrete tax benefit of $ 161 million and $ 299 million in 2013 and 2012 , respectively . it is reasonably possible that the gross balance of unrecognized tax benefits of approximately $ 4.1 billion as of december 31 , 2013 may decrease significantly within the next 12 months due to an expected completion of the .
Question: without settlements in 2013 , what would ending unrecognized tax benefits have been , in millions? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.03137 | Context:the goldman sachs group , inc . and subsidiaries management 2019s discussion and analysis 2018 versus 2017 . provision for credit losses in the consolidated statements of earnings was $ 674 million for 2018 , compared with $ 657 million for 2017 , as the higher provision for credit losses primarily related to consumer loan growth in 2018 was partially offset by an impairment of approximately $ 130 million on a secured loan in 2017 . 2017 versus 2016 . provision for credit losses in the consolidated statements of earnings was $ 657 million for 2017 , compared with $ 182 million for 2016 , reflecting an increase in impairments , which included an impairment of approximately $ 130 million on a secured loan in 2017 , and higher provision for credit losses primarily related to consumer loan growth . operating expenses our operating expenses are primarily influenced by compensation , headcount and levels of business activity . compensation and benefits includes salaries , discretionary compensation , amortization of equity awards and other items such as benefits . discretionary compensation is significantly impacted by , among other factors , the level of net revenues , overall financial performance , prevailing labor markets , business mix , the structure of our share-based compensation programs and the external environment . in addition , see 201cuse of estimates 201d for further information about expenses that may arise from litigation and regulatory proceedings . the table below presents operating expenses by line item and headcount. .
|$ in millions|year ended december 2018|year ended december 2017|year ended december 2016|
|compensation and benefits|$ 12328|$ 11653|$ 11448|
|brokerage clearing exchange and distribution fees|3200|2876|2823|
|market development|740|588|457|
|communications and technology|1023|897|809|
|depreciation and amortization|1328|1152|998|
|occupancy|809|733|788|
|professional fees|1214|1165|1081|
|other expenses|2819|1877|1900|
|total operating expenses|$ 23461|$ 20941|$ 20304|
|headcount atperiod-end|36600|33600|32400|
in the table above , the following reclassifications have been made to previously reported amounts to conform to the current presentation : 2030 regulatory-related fees that are paid to exchanges are now reported in brokerage , clearing , exchange and distribution fees . previously such amounts were reported in other expenses . 2030 headcount consists of our employees , and excludes consultants and temporary staff previously reported as part of total staff . as a result , expenses related to these consultants and temporary staff are now reported in professional fees . previously such amounts were reported in compensation and benefits expenses . 2018 versus 2017 . operating expenses in the consolidated statements of earnings were $ 23.46 billion for 2018 , 12% ( 12 % ) higher than 2017 . our efficiency ratio ( total operating expenses divided by total net revenues ) for 2018 was 64.1% ( 64.1 % ) , compared with 64.0% ( 64.0 % ) for 2017 . the increase in operating expenses compared with 2017 was primarily due to higher compensation and benefits expenses , reflecting improved operating performance , and significantly higher net provisions for litigation and regulatory proceedings . brokerage , clearing , exchange and distribution fees were also higher , reflecting an increase in activity levels , and technology expenses increased , reflecting higher expenses related to computing services . in addition , expenses related to consolidated investments and our digital lending and deposit platform increased , with the increases primarily in depreciation and amortization expenses , market development expenses and other expenses . the increase compared with 2017 also included $ 297 million related to the recently adopted revenue recognition standard . see note 3 to the consolidated financial statements for further information about asu no . 2014-09 , 201crevenue from contracts with customers ( topic 606 ) . 201d net provisions for litigation and regulatory proceedings for 2018 were $ 844 million compared with $ 188 million for 2017 . 2018 included a $ 132 million charitable contribution to goldman sachs gives , our donor-advised fund . compensation was reduced to fund this charitable contribution to goldman sachs gives . we ask our participating managing directors to make recommendations regarding potential charitable recipients for this contribution . as of december 2018 , headcount increased 9% ( 9 % ) compared with december 2017 , reflecting an increase in technology professionals and investments in new business initiatives . 2017 versus 2016 . operating expenses in the consolidated statements of earnings were $ 20.94 billion for 2017 , 3% ( 3 % ) higher than 2016 . our efficiency ratio for 2017 was 64.0% ( 64.0 % ) compared with 65.9% ( 65.9 % ) for 2016 . the increase in operating expenses compared with 2016 was primarily driven by slightly higher compensation and benefits expenses and our investments to fund growth . higher expenses related to consolidated investments and our digital lending and deposit platform were primarily included in depreciation and amortization expenses , market development expenses and other expenses . in addition , technology expenses increased , reflecting higher expenses related to cloud-based services and software depreciation , and professional fees increased , primarily related to consulting costs . these increases were partially offset by lower net provisions for litigation and regulatory proceedings , and lower occupancy expenses ( primarily related to exit costs in 2016 ) . 54 goldman sachs 2018 form 10-k .
Question: what is the growth rate in operating expenses in 2017? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.47601 | Context:we participate in a medicare health support pilot program through green ribbon health , or grh , a joint- venture company with pfizer health solutions inc . grh is designed to support medicare beneficiaries living with diabetes and/or congestive heart failure in central florida . grh uses disease management initiatives including evidence-based clinical guidelines , personal self-directed change strategies , and personal nurses to help participants navigate the health system . revenues under the contract with cms , which expires october 31 , 2008 unless terminated earlier , are subject to refund unless a savings target is met . to date , all revenues have been deferred until reliable estimates are determinable . our products marketed to commercial segment employers and members smart plans and other consumer products over the last several years , we have developed and offered various commercial products designed to provide options and choices to employers that are annually facing substantial premium increases driven by double-digit medical cost inflation . these smart plans , discussed more fully below , and other consumer offerings , which can be offered on either a fully-insured or aso basis , provided coverage to approximately 564700 members at december 31 , 2007 , representing approximately 16.4% ( 16.4 % ) of our total commercial medical membership as detailed below . smart plans and other consumer membership other commercial membership commercial medical membership .
||smart plans and other consumer membership|other commercial membership|commercial medical membership|
|fully-insured|327900|1480700|1808600|
|aso|236800|1406200|1643000|
|total commercial medical|564700|2886900|3451600|
these products are often offered to employer groups as 201cbundles 201d , where the subscribers are offered various hmo and ppo options , with various employer contribution strategies as determined by the employer . paramount to our product strategy , we have developed a group of innovative consumer products , styled as 201csmart 201d products , that we believe will be a long-term solution for employers . we believe this new generation of products provides more ( 1 ) choices for the individual consumer , ( 2 ) transparency of provider costs , and ( 3 ) benefit designs that engage consumers in the costs and effectiveness of health care choices . innovative tools and technology are available to assist consumers with these decisions , including the trade-offs between higher premiums and point-of-service costs at the time consumers choose their plans , and to suggest ways in which the consumers can maximize their individual benefits at the point they use their plans . we believe that when consumers can make informed choices about the cost and effectiveness of their health care , a sustainable long term solution for employers can be realized . smart products , which accounted for approximately 55% ( 55 % ) of enrollment in all of our consumer-choice plans as of december 31 , 2007 , are only sold to employers who use humana as their sole health insurance carrier . some employers have selected other types of consumer-choice products , such as , ( 1 ) a product with a high deductible , ( 2 ) a catastrophic coverage plan , or ( 3 ) ones that offer a spending account option in conjunction with more traditional medical coverage or as a stand alone plan . unlike our smart products , these products , while valuable in helping employers deal with near-term cost increases by shifting costs to employees , are not considered by us to be long-term comprehensive solutions to the employers 2019 cost dilemma , although we view them as an important interim step . our commercial hmo products provide prepaid health insurance coverage to our members through a network of independent primary care physicians , specialty physicians , and other health care providers who .
Question: what is the percentage of aso's members among the total commercial medical membership? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
31.8 | Context:liquidity monitoring and measurement stress testing liquidity stress testing is performed for each of citi 2019s major entities , operating subsidiaries and/or countries . stress testing and scenario analyses are intended to quantify the potential impact of an adverse liquidity event on the balance sheet and liquidity position , and to identify viable funding alternatives that can be utilized . these scenarios include assumptions about significant changes in key funding sources , market triggers ( such as credit ratings ) , potential uses of funding and geopolitical and macroeconomic conditions . these conditions include expected and stressed market conditions as well as company-specific events . liquidity stress tests are conducted to ascertain potential mismatches between liquidity sources and uses over a variety of time horizons and over different stressed conditions . liquidity limits are set accordingly . to monitor the liquidity of an entity , these stress tests and potential mismatches are calculated with varying frequencies , with several tests performed daily . given the range of potential stresses , citi maintains contingency funding plans on a consolidated basis and for individual entities . these plans specify a wide range of readily available actions for a variety of adverse market conditions or idiosyncratic stresses . short-term liquidity measurement : liquidity coverage ratio ( lcr ) in addition to internal liquidity stress metrics that citi has developed for a 30-day stress scenario , citi also monitors its liquidity by reference to the lcr , as calculated pursuant to the u.s . lcr rules . generally , the lcr is designed to ensure that banks maintain an adequate level of hqla to meet liquidity needs under an acute 30-day stress scenario . the lcr is calculated by dividing hqla by estimated net outflows over a stressed 30-day period , with the net outflows determined by applying prescribed outflow factors to various categories of liabilities , such as deposits , unsecured and secured wholesale borrowings , unused lending commitments and derivatives- related exposures , partially offset by inflows from assets maturing within 30 days . banks are required to calculate an add-on to address potential maturity mismatches between contractual cash outflows and inflows within the 30-day period in determining the total amount of net outflows . the minimum lcr requirement is 100% ( 100 % ) , effective january 2017 . pursuant to the federal reserve board 2019s final rule regarding lcr disclosures , effective april 1 , 2017 , citi began to disclose lcr in the prescribed format . the table below sets forth the components of citi 2019s lcr calculation and hqla in excess of net outflows for the periods indicated : in billions of dollars dec . 31 , sept . 30 , dec . 31 .
|in billions of dollars|dec . 31 2017|sept . 30 2017|dec . 31 2016|
|hqla|$ 446.4|$ 448.6|$ 403.7|
|net outflows|364.3|365.1|332.5|
|lcr|123% ( 123 % )|123% ( 123 % )|121% ( 121 % )|
|hqla in excess of net outflows|$ 82.1|$ 83.5|$ 71.3|
note : amounts set forth in the table above are presented on an average basis . as set forth in the table above , citi 2019s lcr increased year- over-year , as the increase in the hqla ( as discussed above ) more than offset an increase in modeled net outflows . the increase in modeled net outflows was primarily driven by changes in assumptions , including changes in methodology to better align citi 2019s outflow assumptions with those embedded in its resolution planning . sequentially , citi 2019s lcr remained unchanged . long-term liquidity measurement : net stable funding ratio ( nsfr ) in 2016 , the federal reserve board , the fdic and the occ issued a proposed rule to implement the basel iii nsfr requirement . the u.s.-proposed nsfr is largely consistent with the basel committee 2019s final nsfr rules . in general , the nsfr assesses the availability of a bank 2019s stable funding against a required level . a bank 2019s available stable funding would include portions of equity , deposits and long-term debt , while its required stable funding would be based on the liquidity characteristics of its assets , derivatives and commitments . prescribed factors would be required to be applied to the various categories of asset and liabilities classes . the ratio of available stable funding to required stable funding would be required to be greater than 100% ( 100 % ) . while citi believes that it is compliant with the proposed u.s . nsfr rules as of december 31 , 2017 , it will need to evaluate a final version of the rules , which are expected to be released during 2018 . citi expects that the nsfr final rules implementation period will be communicated along with the final version of the rules. .
Question: what was the change in billions of net outflows from dec . 31 , 2016 to dec . 31 , 2017? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
190.0 | Context:our international networks segment owns and operates the following television networks , which reached the following number of subscribers via pay television services as of december 31 , 2013 : global networks international subscribers ( millions ) regional networks international subscribers ( millions ) .
|global networks discovery channel|internationalsubscribers ( millions ) 271|regional networks discovery kids|internationalsubscribers ( millions ) 76|
|animal planet|200|sbs nordic ( a )|28|
|tlc real time and travel & living|162|dmax ( b )|16|
|discovery science|81|discovery history|14|
|investigation discovery|74|shed|12|
|discovery home & health|64|discovery en espanol ( u.s. )|5|
|turbo|52|discovery familia ( u.s. )|4|
|discovery world|23|gxt|4|
( a ) number of subscribers corresponds to the collective sum of the total number of subscribers to each of the sbs nordic broadcast networks in sweden , norway , and denmark subject to retransmission agreements with pay television providers . ( b ) number of subscribers corresponds to dmax pay television networks in the u.k. , austria , switzerland and ireland . our international networks segment also owns and operates free-to-air television networks which reached 285 million cumulative viewers in europe and the middle east as of december 31 , 2013 . our free-to-air networks include dmax , fatafeat , quest , real time , giallo , frisbee , focus and k2 . similar to u.s . networks , the primary sources of revenue for international networks are fees charged to operators who distribute our networks , which primarily include cable and dth satellite service providers , and advertising sold on our television networks . international television markets vary in their stages of development . some markets , such as the u.k. , are more advanced digital television markets , while others remain in the analog environment with varying degrees of investment from operators to expand channel capacity or convert to digital technologies . common practice in some markets results in long-term contractual distribution relationships , while customers in other markets renew contracts annually . distribution revenue for our international networks segment is largely dependent on the number of subscribers that receive our networks or content , the rates negotiated in the agreements , and the market demand for the content that we provide . advertising revenue is dependent upon a number of factors including the development of pay and free-to-air television markets , the number of subscribers to and viewers of our channels , viewership demographics , the popularity of our programming , and our ability to sell commercial time over a group of channels . in certain markets , our advertising sales business operates with in-house sales teams , while we rely on external sales representation services in other markets . in developing television markets , we expect that advertising revenue growth will result from continued subscriber and viewership growth , our localization strategy , and the shift of advertising spending from traditional analog networks to channels in the multi-channel environment . in relatively mature markets , such as western europe , growth in advertising revenue will come from increasing viewership and pricing of advertising on our existing television networks and the launching of new services , both organic and through acquisitions . during 2013 , distribution , advertising and other revenues were 50% ( 50 % ) , 47% ( 47 % ) and 3% ( 3 % ) , respectively , of total net revenues for this segment . on january 21 , 2014 , we entered into an agreement with tf1 to acquire a controlling interest in eurosport international ( "eurosport" ) , a leading pan-european sports media platform , by increasing our ownership stake from 20% ( 20 % ) to 51% ( 51 % ) for cash of approximately 20ac253 million ( $ 343 million ) subject to working capital adjustments . due to regulatory constraints the acquisition initially excludes eurosport france , a subsidiary of eurosport . we will retain a 20% ( 20 % ) equity interest in eurosport france and a commitment to acquire another 31% ( 31 % ) ownership interest beginning 2015 , contingent upon resolution of all regulatory matters . the flagship eurosport network focuses on regionally popular sports such as tennis , skiing , cycling and motor sports and reaches 133 million homes across 54 countries in 20 languages . eurosport 2019s brands and platforms also include eurosport hd ( high definition simulcast ) , eurosport 2 , eurosport 2 hd ( high definition simulcast ) , eurosport asia-pacific , and eurosportnews . the acquisition is intended to increase the growth of eurosport and enhance our pay television offerings in europe . tf1 will have the right to put the entirety of its remaining 49% ( 49 % ) non-controlling interest to us for approximately two and a half years after completion of this acquisition . the put has a floor value equal to the fair value at the acquisition date if exercised in the 90 day period beginning on july 1 , 2015 and is subsequently priced at fair value if exercised in the 90 day period beginning on july 1 , 2016 . we expect the acquisition to close in the second quarter of 2014 subject to obtaining necessary regulatory approvals. .
Question: what was the difference in millions of international subscribers between discovery channel and discovery science? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.00667 | Context:notes to consolidated financial statements the amortized cost and fair value of fixed maturities by contractual maturity as of december 31 , 2007 , are as follows : amortized fair ( millions ) cost value .
|( millions )|amortizedcost|fairvalue|
|due in one year or less|$ 50|$ 50|
|due after one year through five years|52|52|
|due after five years through ten years|47|47|
|due after ten years|1|1|
|total fixed maturities|$ 150|$ 150|
expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties . for categorization purposes , aon considers any rating of baa or higher by moody 2019s investor services or equivalent rating agency to be investment grade . aon 2019s continuing operations have no fixed maturities with an unrealized loss at december 31 , 2007 . aon 2019s fixed-maturity portfolio is subject to interest rate , market and credit risks . with a carrying value of approximately $ 150 million at december 31 , 2007 , aon 2019s total fixed-maturity portfolio is approximately 96% ( 96 % ) investment grade based on market value . aon 2019s non publicly-traded fixed maturity portfolio had a carrying value of $ 9 million . valuations of these securities primarily reflect the fundamental analysis of the issuer and current market price of comparable securities . aon 2019s equity portfolio is comprised of a preferred stock not publicly traded . this portfolio is subject to interest rate , market , credit , illiquidity , concentration and operational performance risks . limited partnership securitization . in 2001 , aon sold the vast majority of its limited partnership ( lp ) portfolio , valued at $ 450 million , to peps i , a qspe . the common stock interest in peps i is held by a limited liability company which is owned by aon ( 49% ( 49 % ) ) and by a charitable trust , which is not controlled by aon , established for victims of september 11 ( 51% ( 51 % ) ) . approximately $ 171 million of investment grade fixed-maturity securities were sold by peps i to unaffiliated third parties . peps i then paid aon 2019s insurance underwriting subsidiaries the $ 171 million in cash and issued to them an additional $ 279 million in fixed-maturity and preferred stock securities . as part of this transaction , aon is required to purchase from peps i additional fixed-maturity securities in an amount equal to the unfunded limited partnership commitments , as they are requested . aon funded $ 2 million of commitments in both 2007 and 2006 . as of december 31 , 2007 , these unfunded commitments amounted to $ 44 million . these commitments have specific expiration dates and the general partners may decide not to draw on these commitments . the carrying value of the peps i preferred stock was $ 168 million and $ 210 million at december 31 , 2007 and 2006 , respectively . prior to 2007 , income distributions received from peps i were limited to interest payments on various peps i debt instruments . beginning in 2007 , peps i had redeemed or collateralized all of its debt , and as a result , began to pay preferred income distributions . in 2007 , the company received $ 61 million of income distributions from peps i , which are included in investment income . aon corporation .
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389000.0 | Context:available , we do not expect any transactions to have a significant impact on our reported income tax expense . in connection with the completion of the reorganization , we will reevaluate the ability to realize our deferred tax assets related to u.s . operations under the new aon uk corporate structure and we may recognize a non-cash , deferred tax expense upon the conclusion of this evaluation . based on information currently available , we do not expect the additional deferred tax expense , if any , to be significant . the reorganization will result in additional ongoing costs to us . the completion of the reorganization will result in an increase in some of our ongoing expenses and require us to incur some new expenses . some costs , including those related to employees in our u.k . offices and holding board meetings in the u.k. , are expected to be higher than would be the case if our principal executive offices were not relocated to the u.k. . we also expect to incur new expenses , including professional fees and sdrt in connection with settlement of equity-based awards under our stock or share incentive plans , to comply with u.k . corporate and tax laws . item 1b . unresolved staff comments . item 2 . properties . we have offices in various locations throughout the world . substantially all of our offices are located in leased premises . we maintain our corporate headquarters at 200 e . randolph street in chicago , illinois , where we occupy approximately 355000 square feet of space under an operating lease agreement that expires in 2013 . there are two five-year renewal options at current market rates . we own one building at pallbergweg 2-4 , amsterdam , the netherlands ( 150000 square feet ) . the following are additional significant leased properties , along with the occupied square footage and expiration. .
|property:|occupied square footage|lease expiration dates|
|4 overlook point and other locations lincolnshire illinois|1224000|2014 2013 2019|
|2601 research forest drive the woodlands texas|414000|2020|
|dlf city and unitech cyber park gurgaan india|383000|2012 2013 2014|
|2300 discovery drive orlando florida|364000|2020|
|devonshire square and other locations london uk|327000|2018 2013 2023|
|199 water street new york new york|319000|2018|
|7201 hewitt associates drive charlotte north carolina|218000|2015|
7201 hewitt associates drive , charlotte , north carolina . . . . . . . . . . . . . . . . . . . . . . . . . . . . 218000 2015 the locations in lincolnshire , illinois , the woodlands , texas , orlando , florida , and charlotte north carolina , each of which were acquired as part of the hewitt acquisition in 2010 , are primarily dedicated to our hr solutions segment . the other locations listed above house personnel from each of our business segments . in november 2011 , aon entered into an agreement to lease 190000 square feet in a new building to be constructed in london , united kingdom . the agreement is contingent upon the completion of the building construction . aon expects to move into the new building in 2015 when it exercises an early break option at the devonshire square location. .
Question: considering the properties with lease expiration dates in 2020 , what is the average occupied square footage? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.3976 | Context: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|$ 16087|$ 6144|$ 3260|$ 13203|25% ( 25 % )|
|2007|$ 14673|$ 5834|$ 3458|$ 12297|28% ( 28 % )|
|2006|$ 13562|$ 5198|$ 3461|$ 11825|29% ( 29 % )|
.
Question: what is the percentage of amount ceded to direct amount in 2007? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
2.33333 | Context:republic services , inc . notes to consolidated financial statements 2014 ( continued ) we determine the discount rate used in the measurement of our obligations based on a model that matches the timing and amount of expected benefit payments to maturities of high quality bonds priced as of the pension plan measurement date . when that timing does not correspond to a published high-quality bond rate , our model uses an expected yield curve to determine an appropriate current discount rate . the yields on the bonds are used to derive a discount rate for the liability . the term of our obligation , based on the expected retirement dates of our workforce , is approximately ten years . in developing our expected rate of return assumption , we have evaluated the actual historical performance and long-term return projections of the plan assets , which give consideration to the asset mix and the anticipated timing of the pension plan outflows . we employ a total return investment approach whereby a mix of equity and fixed income investments are used to maximize the long-term return of plan assets for what we consider a prudent level of risk . the intent of this strategy is to minimize plan expenses by outperforming plan liabilities over the long run . risk tolerance is established through careful consideration of plan liabilities , plan funded status and our financial condition . the investment portfolio contains a diversified blend of equity and fixed income investments . furthermore , equity investments are diversified across u.s . and non-u.s . stocks as well as growth , value , and small and large capitalizations . derivatives may be used to gain market exposure in an efficient and timely manner ; however , derivatives may not be used to leverage the portfolio beyond the market value of the underlying investments . investment risk is measured and monitored on an ongoing basis through annual liability measurements , periodic asset and liability studies , and quarterly investment portfolio reviews . the following table summarizes our target asset allocation for 2014 and actual asset allocation as of december 31 , 2014 and 2013 for our defined benefit pension plan : target allocation actual allocation actual allocation .
||targetassetallocation|2014actualassetallocation|2013actualassetallocation|
|debt securities|70% ( 70 % )|70% ( 70 % )|70% ( 70 % )|
|equity securities|30|30|30|
|total|100% ( 100 % )|100% ( 100 % )|100% ( 100 % )|
for 2015 , the investment strategy for pension plan assets is to maintain a broadly diversified portfolio designed to achieve our target of an average long-term rate of return of 6.35% ( 6.35 % ) . while we believe we can achieve a long- term average return of 6.35% ( 6.35 % ) , we cannot be certain that the portfolio will perform to our expectations . assets are strategically allocated among debt and equity portfolios to achieve a diversification level that reduces fluctuations in investment returns . asset allocation target ranges and strategies are reviewed periodically with the assistance of an independent external consulting firm. .
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-124.7 | Context:american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) for the years ended december 31 , 2007 and 2006 , the company increased net deferred tax assets by $ 1.5 million and $ 7.2 million , respectively with a corresponding reduction of goodwill associated with the utilization of net operating and capital losses acquired in connection with the spectrasite , inc . merger . these deferred tax assets were assigned a full valuation allowance as part of the final spectrasite purchase price allocation in june 2006 , as evidence available at the time did not support that losses were more likely than not to be realized . the valuation allowance decreased from $ 308.2 million as of december 31 , 2006 to $ 88.2 million as of december 31 , 2007 . the decrease was primarily due to a $ 149.6 million reclassification to the fin 48 opening balance ( related to federal and state net operating losses acquired in connection with the spectrasite , inc . merger ) and $ 45.2 million of allowance reductions during the year ended december 31 , 2007 related to state net operating losses , capital loss expirations of $ 6.5 million and other items . the company 2019s deferred tax assets as of december 31 , 2007 and 2006 in the table above do not include $ 74.9 million and $ 31.0 million , respectively , of excess tax benefits from the exercises of employee stock options that are a component of net operating losses due to the adoption of sfas no . 123r . total stockholders 2019 equity will be increased by $ 74.9 million if and when any such excess tax benefits are ultimately realized . basis step-up from corporate restructuring represents the tax effects of increasing the basis for tax purposes of certain of the company 2019s assets in conjunction with its spin-off from american radio systems corporation , its former parent company . at december 31 , 2007 , the company had net federal and state operating loss carryforwards available to reduce future federal and state taxable income of approximately $ 1.6 billion and $ 2.1 billion , respectively . if not utilized , the company 2019s net operating loss carryforwards expire as follows ( in thousands ) : .
|years ended december 31,|federal|state|
|2008 to 2012||$ 294358|
|2013 to 2017||561608|
|2018 to 2022|$ 466747|803201|
|2023 to 2027|1134060|451874|
|total|$ 1600807|$ 2111041|
as described in note 1 , the company adopted the provisions of fin 48 on january 1 , 2007 . as of january 1 , 2007 , the total amount of unrecognized tax benefits was $ 183.9 million of which $ 34.3 million would affect the effective tax rate , if recognized . as of december 31 , 2007 , the total amount of unrecognized tax benefits was $ 59.2 million , $ 23.0 million of which would affect the effective tax rate , if recognized . the company expects the unrecognized tax benefits to change over the next 12 months if certain tax matters ultimately settle with the applicable taxing jurisdiction during this timeframe . however , based on the status of these items and the amount of uncertainty associated with the outcome and timing of audit settlements , the .
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no | Context:a lump sum buyout cost of approximately $ 1.1 million . total rent expense under these leases , included in the accompanying consolidated statements of operations , was approximately $ 893000 , $ 856000 and $ 823000 for the fiscal years ended march 31 , 2001 , 2002 and 2003 , respectively . during the fiscal year ended march 31 , 2000 , the company entered into 36-month operating leases totaling approximately $ 644000 for the lease of office furniture . these leases ended in fiscal year 2003 and at the company 2019s option the furniture was purchased at its fair market value . rental expense recorded for these leases during the fiscal years ended march 31 , 2001 , 2002 and 2003 was approximately $ 215000 , $ 215000 and $ 127000 respectively . during fiscal 2000 , the company entered into a 36-month capital lease for computer equipment and software for approximately $ 221000 . this lease ended in fiscal year 2003 and at the company 2019s option these assets were purchased at the stipulated buyout price . future minimum lease payments under all non-cancelable operating leases as of march 31 , 2003 are approximately as follows ( in thousands ) : .
|year ending march 31,|operating leases|
|2004|$ 781|
|2005|776|
|2006|776|
|2007|769|
|2008|772|
|thereafter|1480|
|total future minimum lease payments|$ 5354|
from time to time , the company is involved in legal and administrative proceedings and claims of various types . while any litigation contains an element of uncertainty , management , in consultation with the company 2019s general counsel , presently believes that the outcome of each such other proceedings or claims which are pending or known to be threatened , or all of them combined , will not have a material adverse effect on the company . 7 . stock option and purchase plans all stock options granted by the company under the below-described plans were granted at the fair value of the underlying common stock at the date of grant . outstanding stock options , if not exercised , expire 10 years from the date of grant . the 1992 combination stock option plan ( the combination plan ) , as amended , was adopted in september 1992 as a combination and restatement of the company 2019s then outstanding incentive stock option plan and nonqualified plan . a total of 2670859 options were awarded from the combination plan during its ten-year restatement term that ended on may 1 , 2002 . as of march 31 , 2003 , 1286042 of these options remain outstanding and eligible for future exercise . these options are held by company employees and generally become exercisable ratably over five years . the 1998 equity incentive plan , ( the equity incentive plan ) , was adopted by the company in august 1998 . the equity incentive plan provides for grants of options to key employees , directors , advisors and consultants as either incentive stock options or nonqualified stock options as determined by the company 2019s board of directors . a maximum of 1000000 shares of common stock may be awarded under this plan . options granted under the equity incentive plan are exercisable at such times and subject to such terms as the board of directors may specify at the time of each stock option grant . options outstanding under the equity incentive plan have vesting periods of 3 to 5 years from the date of grant . the 2000 stock incentive plan , ( the 2000 plan ) , was adopted by the company in august 2000 . the 2000 plan provides for grants of options to key employees , directors , advisors and consultants to the company or its subsidiaries as either incentive or nonqualified stock options as determined by the company 2019s board of directors . up to 1400000 shares of common stock may be awarded under the 2000 plan and are exercisable at such times and subject to such terms as the board of directors may specify at the time of each stock option grant . options outstanding under the 2000 plan generally vested 4 years from the date of grant . the company has a nonqualified stock option plan for non-employee directors ( the directors 2019 plan ) . the directors 2019 plan , as amended , was adopted in july 1989 and provides for grants of options to purchase shares of the company 2019s common stock to non-employee directors of the company . up to 400000 shares of common stock may be awarded under the directors 2019 plan . options outstanding under the directors 2019 plan have vesting periods of 1 to 5 years from the date of grant . notes to consolidated financial statements ( continued ) march 31 , 2003 page 25 .
Question: is the vesting under the 2000 employee equity plan potentially longer than under the directors 1989 plan? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.015 | Context:american tower corporation and subsidiaries notes to consolidated financial statements of its outstanding restricted stock awards and stock options and uses the if-converted method to calculate the effect of its outstanding mandatory convertible preferred stock . retirement plan 2014the company has a 401 ( k ) plan covering substantially all employees who meet certain age and employment requirements . for the years ended december 31 , 2014 and 2013 , the company matched 75% ( 75 % ) of the first 6% ( 6 % ) of a participant 2019s contributions . the company 2019s matching contribution for the year ended december 31 , 2012 was 50% ( 50 % ) of the first 6% ( 6 % ) of a participant 2019s contributions . for the years ended december 31 , 2014 , 2013 and 2012 , the company contributed approximately $ 6.5 million , $ 6.0 million and $ 4.4 million to the plan , respectively . accounting standards updates 2014in april 2014 , the financial accounting standards board ( the 201cfasb 201d ) issued additional guidance on reporting discontinued operations . under this guidance , only disposals representing a strategic shift in operations would be presented as discontinued operations . this guidance requires expanded disclosure that provides information about the assets , liabilities , income and expenses of discontinued operations . additionally , the guidance requires additional disclosure for a disposal of a significant part of an entity that does not qualify for discontinued operations reporting . this guidance is effective for reporting periods beginning on or after december 15 , 2014 , with early adoption permitted for disposals or classifications of assets as held-for-sale that have not been reported in financial statements previously issued or available for issuance . the company chose to early adopt this guidance during the year ended december 31 , 2014 and the adoption did not have a material effect on the company 2019s financial statements . in may 2014 , the fasb issued new revenue recognition guidance , which requires an entity to recognize revenue in an amount that reflects the consideration to which the entity expects to be entitled in exchange for the transfer of promised goods or services to customers . the standard will replace most existing revenue recognition guidance in gaap and will become effective on january 1 , 2017 . the standard permits the use of either the retrospective or cumulative effect transition method , and leases are not included in the scope of this standard . the company is evaluating the impact this standard may have on its financial statements . 2 . prepaid and other current assets prepaid and other current assets consists of the following as of december 31 , ( in thousands ) : .
||2014|2013 ( 1 )|
|prepaid operating ground leases|$ 88508|$ 96881|
|prepaid income tax|34512|52612|
|unbilled receivables|25352|25412|
|prepaid assets|23848|34243|
|value added tax and other consumption tax receivables|23228|77016|
|other miscellaneous current assets|59174|61253|
|balance as of december 31,|$ 254622|$ 347417|
( 1 ) december 31 , 2013 balances have been revised to reflect purchase accounting measurement period adjustments. .
Question: assuming maximum participant contributions , what was the change in company match percentage between 2014 and 2013? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-205632.0 | Context:amerisourcebergen corporation 2005 during the fiscal year september 30 , 2005 , the company recorded an impairment charge of $ 5.3 million relating to certain intangible assets within its technology operations . amortization expense for other intangible assets was $ 10.3 million , $ 10.0 million and $ 7.0 million in the fiscal years ended september 30 , 2005 , 2004 and 2003 , respectively . amortization expense for other intangible assets is estimated to be $ 10.1 million in fiscal 2006 , $ 8.8 million in fiscal 2007 , $ 5.0 million in fiscal 2008 , $ 3.3 million in fiscal 2009 , $ 3.2 million in fiscal 2010 , and $ 15.9 million thereafter . note 6 . debt debt consisted of the following: .
|dollars in thousands|september 30 , 2005|september 30 , 2004|
|blanco revolving credit facility at 4.53% ( 4.53 % ) and 3.34% ( 3.34 % ) respectively due 2006|$ 55000|$ 55000|
|amerisourcebergen securitization financing due 2007|2014|2014|
|revolving credit facility due 2009|2014|2014|
|$ 400000 55/8% ( 55/8 % ) senior notes due 2012|398010|2014|
|$ 500000 57/8% ( 57/8 % ) senior notes due 2015|497508|2014|
|term loan facility at 3.02% ( 3.02 % )|2014|180000|
|bergen 71/4% ( 71/4 % ) senior notes due 2005|2014|99939|
|81/8%senior notes due 2008|2014|500000|
|71/4%senior notes due 2012|2014|300000|
|amerisource 5% ( 5 % ) convertible subordinated notes due 2007|2014|300000|
|other|2193|3532|
|total debt|952711|1438471|
|less current portion|1232|281360|
|total net of current portion|$ 951479|$ 1157111|
long-term debt in september 2005 , the company issued $ 400 million of 5.625% ( 5.625 % ) senior notes due september 15 , 2012 ( the 201c2012 notes 201d ) and $ 500 million of 5.875% ( 5.875 % ) senior notes due september 15 , 2015 ( the 201c2015 notes 201d ) . the 2012 notes and 2015 notes each were sold at 99.5% ( 99.5 % ) of principal amount and have an effective interest yield of 5.71% ( 5.71 % ) and 5.94% ( 5.94 % ) , respectively . interest on the 2012 notes and the 2015 notes is payable semiannually in arrears , commencing on march 15 , 2006 . both the 2012 notes and the 2015 notes are redeemable at the company 2019s option at a price equal to the greater of 100% ( 100 % ) of the principal amount thereof , or the sum of the discounted value of the remaining scheduled payments , as defined . in addition , at any time before september 15 , 2008 , the company may redeem up to an aggregate of 35% ( 35 % ) of the principal amount of the 2012 notes or the 2015 notes at redemption prices equal to 105.625% ( 105.625 % ) and 105.875% ( 105.875 % ) , respectively , of the principal amounts thereof , plus accrued and unpaid interest and liquidated damages , if any , to the date of redemption , with the cash proceeds of one or more equity issuances . in connection with the issuance of the 2012 notes and the 2015 notes , the company incurred approximately $ 6.3 million and $ 7.9 million of costs , respectively , which were deferred and are being amortized over the terms of the notes . the gross proceeds from the sale of the 2012 notes and the 2015 notes were used to finance the early retirement of the $ 500 million of 81 20448% ( 20448 % ) senior notes due 2008 and $ 300 million of 71 20444% ( 20444 % ) senior notes due 2012 in september 2005 , including the payment of $ 102.3 million of premiums and other costs . additionally , the company expensed $ 8.5 million of deferred financing costs related to the retirement of the 71 20444% ( 20444 % ) notes and the 81 20448% ( 20448 % ) notes . in december 2004 , the company entered into a $ 700 million five-year senior unsecured revolving credit facility ( the 201csenior revolving credit facility 201d ) with a syndicate of lenders . the senior revolving credit facility replaced the senior credit agreement , as defined below . there were no borrowings outstanding under the senior revolving credit facility at september 30 , 2005 . interest on borrowings under the senior revolving credit facility accrues at specific rates based on the company 2019s debt rating . in april 2005 , the company 2019s debt rating was raised by one of the rating agencies and in accordance with the terms of the senior revolving credit facility , interest on borrow- ings accrue at either 80 basis points over libor or the prime rate at september 30 , 2005 . availability under the senior revolving credit facility is reduced by the amount of outstanding letters of credit ( $ 12.0 million at september 30 , 2005 ) . the company pays quarterly facility fees to maintain the availability under the senior revolving credit facility at specific rates based on the company 2019s debt rating . in april 2005 , the rate payable to maintain the availability of the $ 700 million commitment was reduced to 20 basis points per annum resulting from the company 2019s improved debt rating . in connection with entering into the senior revolving credit facility , the company incurred approximately $ 2.5 million of costs , which were deferred and are being amortized over the life of the facility . the company may choose to repay or reduce its commitments under the senior revolving credit facility at any time . the senior revolving credit facility contains covenants that impose limitations on , among other things , additional indebtedness , distributions and dividends to stockholders , and invest- ments . additional covenants require compliance with financial tests , including leverage and minimum earnings to fixed charges ratios . in august 2001 , the company had entered into a senior secured credit agreement ( the 201csenior credit agreement 201d ) with a syndicate of lenders . the senior credit agreement consisted of a $ 1.0 billion revolving credit facility ( the 201crevolving facility 201d ) and a $ 300 million term loan facility ( the 201cterm facility 201d ) , both of which had been scheduled to mature in august 2006 . the term facility had scheduled quarterly maturities , which began in december 2002 , totaling $ 60 million in each of fiscal 2003 and 2004 , $ 80 million in fiscal 2005 and $ 100 million in fiscal 2006 . the company previously paid the scheduled quarterly maturities of $ 60 million in fiscal 2004 and 2003. .
Question: what was the change in total debt net of current portions in thousands between 2004 and 2005? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
6700.0 | Context:fair value of the tangible assets and identifiable intangible assets acquired , was $ 17.7 million . goodwill resulted primarily from the company 2019s expectation of synergies from the integration of sigma-c 2019s technology with the company 2019s technology and operations . virtio corporation , inc . ( virtio ) the company acquired virtio on may 15 , 2006 in an all-cash transaction . reasons for the acquisition . the company believes that its acquisition of virtio will expand its presence in electronic system level design . the company expects the combination of the company 2019s system studio solution with virtio 2019s virtual prototyping technology will help accelerate systems to market by giving software developers the ability to begin code development earlier than with prevailing methods . purchase price . the company paid $ 9.1 million in cash for the outstanding shares of virtio , of which $ 0.9 million was deposited with an escrow agent and which will be paid to the former stockholders of virtio pursuant to the terms of an escrow agreement . in addition , the company had a prior investment in virtio of approximately $ 1.7 million . the total purchase consideration consisted of: .
||( in thousands )|
|cash paid|$ 9076|
|prior investment in virtio|1664|
|acquisition-related costs|713|
|total purchase price|$ 11453|
acquisition-related costs of $ 0.7 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 $ 0.3 million of the acquisition-related costs . the $ 0.4 million balance remaining at october 31 , 2006 primarily consists of professional and tax-related service fees and facilities closure costs . under the agreement with virtio , the company has also agreed to pay up to $ 4.3 million over three years to the former stockholders based upon achievement of certain sales milestones . this contingent consideration is considered to be additional purchase price and will be an adjustment to goodwill when and if payment is made . additionally , the company has also agreed to pay $ 0.9 million in employee retention bonuses which will be recognized as compensation expense over the service period of the applicable employees . assets acquired . the company has performed a preliminary valuation and allocated the total purchase consideration to the assets and liabilities acquired , including identifiable intangible assets based on their respective fair values on the acquisition date . the company acquired $ 2.5 million of intangible assets consisting of $ 1.9 million in existing technology , $ 0.4 million in customer relationships and $ 0.2 million in non-compete agreements to be amortized over five to seven years . additionally , the company acquired tangible assets of $ 5.5 million and assumed liabilities of $ 3.2 million . goodwill , representing the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in the merger , was $ 6.7 million . goodwill resulted primarily from the company 2019s expectation of synergies from the integration of virtio 2019s technology with the company 2019s technology and operations . hpl technologies , inc . ( hpl ) the company acquired hpl on december 7 , 2005 in an all-cash transaction . reasons for the acquisition . the company believes that the acquisition of hpl will help solidify the company 2019s position as a leading electronic design automation vendor in design for manufacturing ( dfm ) .
Question: what percentage of the total purchase price did goodwill represent? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.63846 | Context:agreements associated with the agency securitizations , most sale agreements do not provide for penalties or other remedies if we do not respond timely to investor indemnification or repurchase requests . origination and sale of residential mortgages is an ongoing business activity and , accordingly , management continually assesses the need to recognize indemnification and repurchase liabilities pursuant to the associated investor sale agreements . we establish indemnification and repurchase liabilities for estimated losses on sold first and second-lien mortgages and home equity loans/lines for which indemnification is expected to be provided or for loans that are expected to be repurchased . for the first and second-lien mortgage sold portfolio , we have established an indemnification and repurchase liability pursuant to investor sale agreements based on claims made and our estimate of future claims on a loan by loan basis . these relate primarily to loans originated during 2006-2008 . for the home equity loans/lines sold portfolio , we have established indemnification and repurchase liabilities based upon this same methodology for loans sold during 2005-2007 . 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 . management 2019s subsequent evaluation of these indemnification and repurchase liabilities is based upon trends in indemnification and repurchase requests , actual loss experience , risks in the underlying serviced loan portfolios , and current economic conditions . as part of its evaluation , management considers estimated loss projections over the life of the subject loan portfolio . at december 31 , 2011 and december 31 , 2010 , the total indemnification and repurchase liability for estimated losses on indemnification and repurchase claims totaled $ 130 million and $ 294 million , respectively , and was included in other liabilities on the consolidated balance sheet . an analysis of the changes in this liability during 2011 and 2010 follows : analysis of indemnification and repurchase liability for asserted claims and unasserted claims .
|in millions|2011 residential mortgages ( a )|2011 home equity loans/lines ( b )|2011 total|2011 residential mortgages ( a )|2011 home equity loans/lines ( b )|total|
|january 1|$ 144|$ 150|$ 294|$ 229|$ 41|$ 270|
|reserve adjustments net|102|4|106|120|144|264|
|losses 2013 loan repurchases and settlements|-163 ( 163 )|-107 ( 107 )|-270 ( 270 )|-205 ( 205 )|-35 ( 35 )|-240 ( 240 )|
|december 31|$ 83|$ 47|$ 130|$ 144|$ 150|$ 294|
( a ) repurchase obligation associated with sold loan portfolios of $ 121.4 billion and $ 139.8 billion at december 31 , 2011 and december 31 , 2010 , respectively . ( b ) repurchase obligation associated with sold loan portfolios of $ 4.5 billion and $ 6.5 billion at december 31 , 2011 and december 31 , 2010 , respectively . pnc is no longer engaged in the brokered home equity lending business , which was acquired with national city . management believes our indemnification and repurchase liabilities appropriately reflect the estimated probable losses on investor indemnification and repurchase claims at december 31 , 2011 and 2010 . while management seeks to obtain all relevant information in estimating the indemnification and repurchase liability , the estimation process is inherently uncertain and imprecise and , accordingly , it is reasonably possible that future indemnification and repurchase losses could be more or less than our established liability . factors that could affect our estimate include the volume of valid claims driven by investor strategies and behavior , our ability to successfully negotiate claims with investors , housing prices , and other economic conditions . at december 31 , 2011 , we estimate that it is reasonably possible that we could incur additional losses in excess of our indemnification and repurchase liability of up to $ 85 million . this estimate of potential additional losses in excess of our liability is based on assumed higher investor demands , lower claim rescissions , and lower home prices than our current assumptions . reinsurance agreements we have two wholly-owned captive insurance subsidiaries which provide reinsurance to third-party insurers related to insurance sold to our customers . these subsidiaries enter into various types of reinsurance agreements with third-party insurers where the subsidiary assumes the risk of loss through either an excess of loss or quota share agreement up to 100% ( 100 % ) reinsurance . in excess of loss agreements , these subsidiaries assume the risk of loss for an excess layer of coverage up to specified limits , once a defined first loss percentage is met . in quota share agreements , the subsidiaries and third-party insurers share the responsibility for payment of all claims . these subsidiaries provide reinsurance for accidental death & dismemberment , credit life , accident & health , lender placed 200 the pnc financial services group , inc . 2013 form 10-k .
Question: residential mortgages were what percent of the total indemnification and repurchase liability for asserted claims and unasserted claims as of december 31 2011? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
23200.0 | Context:( 201cati 201d ) and spectrasite communications , llc ( 201cspectrasite 201d ) . we conduct our international operations through our subsidiary , american tower international , inc. , which in turn conducts operations through its various international operating subsidiaries . our international operations consist primarily of our operations in mexico and brazil , and also include operations in india , which we established in the second half of 2007 . we operate in two business segments : rental and management and network development services . for more information about our business segments , as well as financial information about the geographic areas in which we operate , see item 7 of this annual report under the caption 201cmanagement 2019s discussion and analysis of financial condition and results of operations 201d and note 18 to our consolidated financial statements included in this annual report . products and services rental and management our primary business is our communications site leasing business , which we conduct through our rental and management segment . this segment accounted for approximately 97% ( 97 % ) , 98% ( 98 % ) and 98% ( 98 % ) of our total revenues for the years ended december 31 , 2008 , 2007 and 2006 , respectively . our rental and management segment is comprised of our domestic and international site leasing business , including the operation of wireless communications towers , broadcast communications towers and das networks , as well as rooftop management . wireless communications towers.we are a leading owner and operator of wireless communications towers in the united states , mexico and brazil , based on number of towers and revenue . we also own and operate communications towers in india , where we commenced operations in the second half of 2007 . in addition to owned wireless communications towers , we also manage wireless communications sites for property owners in the united states , mexico and brazil . approximately 92% ( 92 % ) , 91% ( 91 % ) and 91% ( 91 % ) of our rental and management segment revenue was attributable to our wireless communications towers for the years ended december 31 , 2008 , 2007 and 2006 , respectively . as of december 31 , 2008 , our wireless communications tower portfolio included the following : country number of owned sites ( approx ) coverage area united states . . . . . . . . . . . 19400 coverage spans 49 states and the district of columbia ; 90% ( 90 % ) of network provides coverage in the top 100 markets or core areas such as high traffic interstate corridors . mexico . . . . . . . . . . . . . . . . 2500 coverage primarily concentrated in highly populated areas , including mexico city , monterrey , guadalajara and acapulco . brazil . . . . . . . . . . . . . . . . . 1100 coverage primarily concentrated in major metropolitan areas in central and southern brazil , including sao paulo , rio de janeiro , brasilia and curitiba . india . . . . . . . . . . . . . . . . . . 200 initial-phase coverage ( operations established in the second half of 2007 ) . we lease space on our wireless communications towers to customers in a diverse range of wireless industries , including personal communications services , cellular , enhanced specialized mobile radio , wimax . paging and fixed microwave . our major domestic wireless customers include at&t mobility , sprint nextel , verizon wireless ( which completed its merger with alltel in january 2009 ) and t-mobile usa . our major international wireless customers include grupo iusacell ( iusacell celular and unefon in mexico ) , nextel international in mexico and brazil , telefonica ( movistar in mexico and vivo in brazil ) , america movil ( telcel in mexico and claro in brazil ) and telecom italia mobile ( tim ) in brazil . for the year ended december 31 .
|country|number of owned sites ( approx )|coverage area|
|united states|19400|coverage spans 49 states and the district of columbia ; 90% ( 90 % ) of network provides coverage in the top 100 markets or core areas such as high traffic interstate corridors .|
|mexico|2500|coverage primarily concentrated in highly populated areas including mexico city monterrey guadalajara and acapulco .|
|brazil|1100|coverage primarily concentrated in major metropolitan areas in central and southern brazil including sao paulo rio de janeiro brasilia and curitiba .|
|india|200|initial-phase coverage ( operations established in the second half of 2007 ) .|
( 201cati 201d ) and spectrasite communications , llc ( 201cspectrasite 201d ) . we conduct our international operations through our subsidiary , american tower international , inc. , which in turn conducts operations through its various international operating subsidiaries . our international operations consist primarily of our operations in mexico and brazil , and also include operations in india , which we established in the second half of 2007 . we operate in two business segments : rental and management and network development services . for more information about our business segments , as well as financial information about the geographic areas in which we operate , see item 7 of this annual report under the caption 201cmanagement 2019s discussion and analysis of financial condition and results of operations 201d and note 18 to our consolidated financial statements included in this annual report . products and services rental and management our primary business is our communications site leasing business , which we conduct through our rental and management segment . this segment accounted for approximately 97% ( 97 % ) , 98% ( 98 % ) and 98% ( 98 % ) of our total revenues for the years ended december 31 , 2008 , 2007 and 2006 , respectively . our rental and management segment is comprised of our domestic and international site leasing business , including the operation of wireless communications towers , broadcast communications towers and das networks , as well as rooftop management . wireless communications towers.we are a leading owner and operator of wireless communications towers in the united states , mexico and brazil , based on number of towers and revenue . we also own and operate communications towers in india , where we commenced operations in the second half of 2007 . in addition to owned wireless communications towers , we also manage wireless communications sites for property owners in the united states , mexico and brazil . approximately 92% ( 92 % ) , 91% ( 91 % ) and 91% ( 91 % ) of our rental and management segment revenue was attributable to our wireless communications towers for the years ended december 31 , 2008 , 2007 and 2006 , respectively . as of december 31 , 2008 , our wireless communications tower portfolio included the following : country number of owned sites ( approx ) coverage area united states . . . . . . . . . . . 19400 coverage spans 49 states and the district of columbia ; 90% ( 90 % ) of network provides coverage in the top 100 markets or core areas such as high traffic interstate corridors . mexico . . . . . . . . . . . . . . . . 2500 coverage primarily concentrated in highly populated areas , including mexico city , monterrey , guadalajara and acapulco . brazil . . . . . . . . . . . . . . . . . 1100 coverage primarily concentrated in major metropolitan areas in central and southern brazil , including sao paulo , rio de janeiro , brasilia and curitiba . india . . . . . . . . . . . . . . . . . . 200 initial-phase coverage ( operations established in the second half of 2007 ) . we lease space on our wireless communications towers to customers in a diverse range of wireless industries , including personal communications services , cellular , enhanced specialized mobile radio , wimax . paging and fixed microwave . our major domestic wireless customers include at&t mobility , sprint nextel , verizon wireless ( which completed its merger with alltel in january 2009 ) and t-mobile usa . our major international wireless customers include grupo iusacell ( iusacell celular and unefon in mexico ) , nextel international in mexico and brazil , telefonica ( movistar in mexico and vivo in brazil ) , america movil ( telcel in mexico and claro in brazil ) and telecom italia mobile ( tim ) in brazil . for the year ended december 31 .
Question: what is the total number of owned sites presented in the table? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
2224.86957 | Context:item 1b . unresolved staff comments item 2 . properties we employ a variety of assets in the management and operation of our rail business . our rail network covers 23 states in the western two-thirds of the u.s . our rail network includes 31974 route miles . we own 26012 miles and operate on the remainder pursuant to trackage rights or leases . the following table describes track miles at december 31 , 2014 and 2013 . 2014 2013 .
||2014|2013|
|route|31974|31838|
|other main line|6943|6766|
|passing lines and turnouts|3197|3167|
|switching and classification yard lines|9058|9090|
|total miles|51172|50861|
headquarters building we own our headquarters building in omaha , nebraska . the facility has 1.2 million square feet of space for approximately 4000 employees. .
Question: what is the average number of total track miles per state in the rail network ? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
29.72 | Context:22 2016 annual report performance graph the following chart presents a comparison for the five-year period ended june 30 , 2016 , of the market performance of the company 2019s common stock with the s&p 500 index and an index of peer companies selected by the company : comparison of 5 year cumulative total return among jack henry & associates , inc. , the s&p 500 index , and a peer group the following information depicts a line graph with the following values: .
||2011|2012|2013|2014|2015|2016|
|jkhy|100.00|116.62|161.33|206.53|228.24|312.11|
|peer group|100.00|107.65|126.89|174.28|219.46|251.24|
|s&p 500|100.00|105.45|127.17|158.46|170.22|177.02|
this comparison assumes $ 100 was invested on june 30 , 2011 , and assumes reinvestments of dividends . total returns are calculated according to market capitalization of peer group members at the beginning of each period . peer companies selected are in the business of providing specialized computer software , hardware and related services to financial institutions and other businesses . companies in the peer group are aci worldwide , inc. , bottomline technology , inc. , broadridge financial solutions , cardtronics , inc. , convergys corp. , corelogic , inc. , dst systems , inc. , euronet worldwide , inc. , fair isaac corp. , fidelity national information services , inc. , fiserv , inc. , global payments , inc. , moneygram international , inc. , ss&c technologies holdings , inc. , total systems services , inc. , tyler technologies , inc. , verifone systems , inc. , and wex , inc. . heartland payment systems , inc . was removed from the peer group as it merged with global payments , inc . in april 2016. .
Question: what was the total amount of returns that jkhy , peer group and s&p 500 had made combined by june 30 , 2012? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
1.60719 | Context:entergy arkansas 2019s receivables from or ( payables to ) the money pool were as follows as of december 31 for each of the following years. .
|2017|2016|2015|2014|
|( in thousands )|( in thousands )|( in thousands )|( in thousands )|
|( $ 166137 )|( $ 51232 )|( $ 52742 )|$ 2218|
see note 4 to the financial statements for a description of the money pool . entergy arkansas has a credit facility in the amount of $ 150 million scheduled to expire in august 2022 . entergy arkansas also has a $ 20 million credit facility scheduled to expire in april 2018 . a0 a0the $ 150 million credit facility permits the issuance of letters of credit against $ 5 million of the borrowing capacity of the facility . as of december 31 , 2017 , there were no cash borrowings and no letters of credit outstanding under the credit facilities . in addition , entergy arkansas is a party to an uncommitted letter of credit facility as a means to post collateral to support its obligations to miso . as of december 31 , 2017 , a $ 1 million letter of credit was outstanding under entergy arkansas 2019s uncommitted letter of credit facility . see note 4 to the financial statements for further discussion of the credit facilities . the entergy arkansas nuclear fuel company variable interest entity has a credit facility in the amount of $ 80 million scheduled to expire in may 2019 . a0 a0as of december 31 , 2017 , $ 50 million in letters of credit to support a like amount of commercial paper issued and $ 24.9 million in loans were outstanding under the entergy arkansas nuclear fuel company variable interest entity credit facility . see note 4 to the financial statements for further discussion of the nuclear fuel company variable interest entity credit facility . entergy arkansas obtained authorizations from the ferc through october 2019 for short-term borrowings not to exceed an aggregate amount of $ 250 million at any time outstanding and borrowings by its nuclear fuel company variable interest entity . see note 4 to the financial statements for further discussion of entergy arkansas 2019s short-term borrowing limits . the long-term securities issuances of entergy arkansas are limited to amounts authorized by the apsc , and the current authorization extends through december 2018 . entergy arkansas , inc . and subsidiaries management 2019s financial discussion and analysis state and local rate regulation and fuel-cost recovery retail rates 2015 base rate filing in april 2015 , entergy arkansas filed with the apsc for a general change in rates , charges , and tariffs . the filing notified the apsc of entergy arkansas 2019s intent to implement a forward test year formula rate plan pursuant to arkansas legislation passed in 2015 , and requested a retail rate increase of $ 268.4 million , with a net increase in revenue of $ 167 million . the filing requested a 10.2% ( 10.2 % ) return on common equity . in september 2015 the apsc staff and intervenors filed direct testimony , with the apsc staff recommending a revenue requirement of $ 217.9 million and a 9.65% ( 9.65 % ) return on common equity . in december 2015 , entergy arkansas , the apsc staff , and certain of the intervenors in the rate case filed with the apsc a joint motion for approval of a settlement of the case that proposed a retail rate increase of approximately $ 225 million with a net increase in revenue of approximately $ 133 million ; an authorized return on common equity of 9.75% ( 9.75 % ) ; and a formula rate plan tariff that provides a +/- 50 basis point band around the 9.75% ( 9.75 % ) allowed return on common equity . a significant portion of the rate increase is related to entergy arkansas 2019s acquisition in march 2016 of union power station power block 2 for a base purchase price of $ 237 million . the settlement agreement also provided for amortization over a 10-year period of $ 7.7 million of previously-incurred costs related to ano post-fukushima compliance and $ 9.9 million of previously-incurred costs related to ano flood barrier compliance . a settlement hearing was held in january 2016 . in february 2016 the apsc approved the settlement with one exception that reduced the retail rate increase proposed in the settlement by $ 5 million . the settling parties agreed to the apsc modifications in february 2016 . the new rates were effective february 24 , 2016 and began billing with the first billing cycle of april 2016 . in march 2016 , entergy arkansas made a compliance filing regarding the .
Question: in 2016 as part of the entergy arkansas 2019s intent to implement a forward test year formula rate plan pursuant to arkansas legislation passed in 2015 , what was the ratio of the and requested a retail rate increase to the net increase | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.10464 | Context:charge-off is based on pnc 2019s actual loss experience for each type of pool . since a pool may consist of first and second liens , the charge-off amounts for the pool are proportionate to the composition of first and second liens in the pool . our experience has been that the ratio of first to second lien loans has been consistent over time and is appropriately represented in our pools used for roll-rate calculations . generally , our variable-rate home equity lines of credit have either a seven or ten year draw period , followed by a 20-year amortization term . during the draw period , we have home equity lines of credit where borrowers pay interest only and home equity lines of credit where borrowers pay principal and interest . the risk associated with our home equity lines of credit end of period draw dates is considered in establishing our alll . based upon outstanding balances at december 31 , 2013 , the following table presents the periods when home equity lines of credit draw periods are scheduled to end . table 41 : home equity lines of credit 2013 draw period end in millions interest only product principal and interest product .
|in millions|interest onlyproduct|principal andinterest product|
|2014|$ 1768|$ 450|
|2015|1829|625|
|2016|1521|485|
|2017|2738|659|
|2018|1206|894|
|2019 and thereafter|3848|4562|
|total ( a ) ( b )|$ 12910|$ 7675|
( a ) includes all home equity lines of credit that mature in 2014 or later , including those with borrowers where we have terminated borrowing privileges . ( b ) includes approximately $ 185 million , $ 193 million , $ 54 million , $ 63 million , $ 47 million and $ 561 million of home equity lines of credit with balloon payments , including those where we have terminated borrowing privileges , with draw periods scheduled to end in 2014 , 2015 , 2016 , 2017 , 2018 and 2019 and thereafter , respectively . we view home equity lines of credit where borrowers are paying principal and interest under the draw period as less risky than those where the borrowers are paying interest only , as these borrowers have a demonstrated ability to make some level of principal and interest payments . based upon outstanding balances , and excluding purchased impaired loans , at december 31 , 2013 , for home equity lines of credit for which the borrower can no longer draw ( e.g. , draw period has ended or borrowing privileges have been terminated ) , approximately 3.65% ( 3.65 % ) were 30-89 days past due and approximately 5.49% ( 5.49 % ) were 90 days or more past due . generally , when a borrower becomes 60 days past due , we terminate borrowing privileges and those privileges are not subsequently reinstated . at that point , we continue our collection/recovery processes , which may include a loss mitigation loan modification resulting in a loan that is classified as a tdr . see note 5 asset quality in the notes to consolidated financial statements in item 8 of this report for additional information . loan modifications and troubled debt restructurings consumer loan modifications we modify loans under government and pnc-developed programs based upon our commitment to help eligible homeowners and borrowers avoid foreclosure , where appropriate . initially , a borrower is evaluated for a modification under a government program . if a borrower does not qualify under a government program , the borrower is then evaluated under a pnc program . our programs utilize both temporary and permanent modifications and typically reduce the interest rate , extend the term and/or defer principal . temporary and permanent modifications under programs involving a change to loan terms are generally classified as tdrs . further , certain payment plans and trial payment arrangements which do not include a contractual change to loan terms may be classified as tdrs . additional detail on tdrs is discussed below as well as in note 5 asset quality in the notes to consolidated financial statements in item 8 of this report . a temporary modification , with a term between 3 and 24 months , involves a change in original loan terms for a period of time and reverts to a calculated exit rate for the remaining term of the loan as of a specific date . a permanent modification , with a term greater than 24 months , is a modification in which the terms of the original loan are changed . permanent modifications primarily include the government-created home affordable modification program ( hamp ) or pnc-developed hamp-like modification programs . for home equity lines of credit , we will enter into a temporary modification when the borrower has indicated a temporary hardship and a willingness to bring current the delinquent loan balance . examples of this situation often include delinquency due to illness or death in the family or loss of employment . permanent modifications are entered into when it is confirmed that the borrower does not possess the income necessary to continue making loan payments at the current amount , but our expectation is that payments at lower amounts can be made . we also monitor the success rates and delinquency status of our loan modification programs to assess their effectiveness in serving our customers 2019 needs while mitigating credit losses . table 42 provides the number of accounts and unpaid principal balance of modified consumer real estate related loans and table 43 provides the number of accounts and unpaid principal balance of modified loans that were 60 days or more past due as of six months , nine months , twelve months and fifteen months after the modification date . the pnc financial services group , inc . 2013 form 10-k 79 .
Question: for the 2014 draw period balances of interest only products , what percent were home equity lines of credit with balloon payments , including those where we have terminated borrowing privileges? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
20623882.0 | Context:j a c k h e n r y . c o m 1 5 market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities the company 2019s common stock is quoted on the nasdaq global select market ( 201cnasdaq 201d ) under the symbol 201cjkhy 201d . the company established a practice of paying quarterly dividends at the end of fiscal 1990 and has paid dividends with respect to every quarter since that time . the declaration and payment of any future dividends will continue to be at the discretion of our board of directors and will depend upon , among other factors , our earnings , capital requirements , contractual restrictions , and operating and financial condition . the company does not currently foresee any changes in its dividend practices . on august 15 , 2019 , there were approximately 145300 holders of the company 2019s common stock , including individual participants in security position listings . on that same date the last sale price of the common shares as reported on nasdaq was $ 141.94 per share . issuer purchases of equity securities the following shares of the company were repurchased during the quarter ended june 30 , 2019 : total number of shares purchased ( 1 ) average price of total number of shares purchased as part of publicly announced plans ( 1 ) maximum number of shares that may yet be purchased under the plans ( 2 ) .
||total number of shares purchased ( 1 )|average price of share|total number of shares purchased as part of publicly announced plans ( 1 )|maximum number of shares that may yet be purchased under the plans ( 2 )|
|april 1- april 30 2019|2014|$ 2014|2014|3732713|
|may 1- may 31 2019|250000|$ 134.35|250000|3482713|
|june 1- june 30 2019|2014|$ 2014|2014|3482713|
|total|250000|$ 134.35|250000|3482713|
( 1 ) 250000 shares were purchased through a publicly announced repurchase plan . there were no shares surrendered to the company to satisfy tax withholding obligations in connection with employee restricted stock awards . ( 2 ) total stock repurchase authorizations approved by the company 2019s board of directors as of february 17 , 2015 were for 30.0 million shares . these authorizations have no specific dollar or share price targets and no expiration dates. .
Question: what was the company market capitalization on august 15 , 2019, | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
327.5 | Context:note 8 2013 debt our long-term debt consisted of the following ( in millions ) : .
||2012|2011|
|notes with rates from 2.13% ( 2.13 % ) to 6.15% ( 6.15 % ) due 2016 to 2042|$ 5642|$ 5308|
|notes with rates from 7.00% ( 7.00 % ) to 7.75% ( 7.75 % ) due 2013 to 2036|1080|1239|
|other debt|478|19|
|total long-term debt|7200|6966|
|less : unamortized discounts|-892 ( 892 )|-506 ( 506 )|
|total long-term debt net of unamortized discounts|6308|6460|
|less : current maturities of long-term debt|-150 ( 150 )|2014|
|total long-term debt net|$ 6158|$ 6460|
in december 2012 , we issued notes totaling $ 1.3 billion with a fixed interest rate of 4.07% ( 4.07 % ) maturing in december 2042 ( the new notes ) in exchange for outstanding notes totaling $ 1.2 billion with interest rates ranging from 5.50% ( 5.50 % ) to 8.50% ( 8.50 % ) maturing in 2023 to 2040 ( the old notes ) . in connection with the exchange , we paid a premium of $ 393 million , of which $ 225 million was paid in cash and $ 168 million was in the form of new notes . this premium , in addition to $ 194 million in remaining unamortized discounts related to the old notes , will be amortized as additional interest expense over the term of the new notes using the effective interest method . we may , at our option , redeem some or all of the new notes at any time by paying the principal amount of notes being redeemed plus a make-whole premium and accrued and unpaid interest . interest on the new notes is payable on june 15 and december 15 of each year , beginning on june 15 , 2013 . the new notes are unsecured senior obligations and rank equally in right of payment with all of our existing and future unsecured and unsubordinated indebtedness . on september 9 , 2011 , we issued $ 2.0 billion of long-term notes in a registered public offering consisting of $ 500 million maturing in 2016 with a fixed interest rate of 2.13% ( 2.13 % ) , $ 900 million maturing in 2021 with a fixed interest rate of 3.35% ( 3.35 % ) , and $ 600 million maturing in 2041 with a fixed interest rate of 4.85% ( 4.85 % ) . we may , at our option , redeem some or all of the notes at any time by paying the principal amount of notes being redeemed plus a make-whole premium and accrued and unpaid interest . interest on the notes is payable on march 15 and september 15 of each year , beginning on march 15 , 2012 . in october 2011 , we used a portion of the proceeds to redeem all of our $ 500 million long-term notes maturing in 2013 . in 2011 , we repurchased $ 84 million of our long-term notes through open-market purchases . we paid premiums of $ 48 million in connection with the early extinguishments of debt , which were recognized in other non-operating income ( expense ) , net . in august 2011 , we entered into a $ 1.5 billion revolving credit facility with a group of banks and terminated our existing $ 1.5 billion revolving credit facility that was to expire in june 2012 . the credit facility expires august 2016 , and we may request and the banks may grant , at their discretion , an increase to the credit facility by an additional amount up to $ 500 million . there were no borrowings outstanding under either facility through december 31 , 2012 . borrowings under the credit facility would be unsecured and bear interest at rates based , at our option , on a eurodollar rate or a base rate , as defined in the credit facility . each bank 2019s obligation to make loans under the credit facility is subject to , among other things , our compliance with various representations , warranties and covenants , including covenants limiting our ability and certain of our subsidiaries 2019 ability to encumber assets and a covenant not to exceed a maximum leverage ratio , as defined in the credit facility . the leverage ratio covenant excludes the adjustments recognized in stockholders 2019 equity related to postretirement benefit plans . as of december 31 , 2012 , we were in compliance with all covenants contained in the credit facility , as well as in our debt agreements . we have agreements in place with banking institutions to provide for the issuance of commercial paper . there were no commercial paper borrowings outstanding during 2012 or 2011 . if we were to issue commercial paper , the borrowings would be supported by the credit facility . during the next five years , we have scheduled long-term debt maturities of $ 150 million due in 2013 and $ 952 million due in 2016 . interest payments were $ 378 million in 2012 , $ 326 million in 2011 , and $ 337 million in 2010. .
Question: in 2012 what was the percentage of the premium apid to the exchange for outstanding notes exchanged | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
1.36082 | Context:japanese yen ( approximately $ 63 million and $ 188 million , respectively , based on applicable exchange rates at that time ) . the cash paid of approximately $ 63 million during the quarter ended march 31 , 2010 as a result of the purchase of sumitomo 3m shares from sei is classified as 201cother financing activities 201d in the consolidated statement of cash flows . the remainder of the purchase financed by the note payable to sei is considered non-cash financing activity in the first quarter of 2010 . as discussed in note 2 , during the second quarter of 2010 , 3m recorded a financed liability of 1.7 billion japanese yen ( approximately $ 18 million based on applicable exchange rates at that time ) related to the a-one acquisition , which is also considered a non-cash financing activity . off-balance sheet arrangements and contractual obligations : as of december 31 , 2012 , the company has not utilized special purpose entities to facilitate off-balance sheet financing arrangements . refer to the section entitled 201cwarranties/guarantees 201d in note 13 for discussion of accrued product warranty liabilities and guarantees . in addition to guarantees , 3m , in the normal course of business , periodically enters into agreements that require the company to indemnify either major customers or suppliers for specific risks , such as claims for injury or property damage arising out of the use of 3m products or the negligence of 3m personnel , or claims alleging that 3m products infringe third- party patents or other intellectual property . while 3m 2019s maximum exposure under these indemnification provisions cannot be estimated , these indemnifications are not expected to have a material impact on the company 2019s consolidated results of operations or financial condition . a summary of the company 2019s significant contractual obligations as of december 31 , 2012 , follows : contractual obligations .
|( millions )|total|payments due by year 2013|payments due by year 2014|payments due by year 2015|payments due by year 2016|payments due by year 2017|payments due by year after 2017|
|long-term debt including current portion ( note 9 )|$ 5902|$ 986|$ 1481|$ 107|$ 994|$ 648|$ 1686|
|interest on long-term debt|1721|189|152|97|96|79|1108|
|operating leases ( note 13 )|735|194|158|119|77|68|119|
|capital leases ( note 13 )|96|22|21|8|7|4|34|
|unconditional purchase obligations and other|1489|1060|209|111|48|33|28|
|total contractual cash obligations|$ 9943|$ 2451|$ 2021|$ 442|$ 1222|$ 832|$ 2975|
long-term debt payments due in 2013 and 2014 include floating rate notes totaling $ 132 million ( classified as current portion of long-term debt ) and $ 97 million , respectively , as a result of put provisions associated with these debt instruments . unconditional purchase obligations are defined as an agreement to purchase goods or services that is enforceable and legally binding on the company . included in the unconditional purchase obligations category above are certain obligations related to take or pay contracts , capital commitments , service agreements and utilities . these estimates include both unconditional purchase obligations with terms in excess of one year and normal ongoing purchase obligations with terms of less than one year . many of these commitments relate to take or pay contracts , in which 3m guarantees payment to ensure availability of products or services that are sold to customers . the company expects to receive consideration ( products or services ) for these unconditional purchase obligations . contractual capital commitments are included in the preceding table , but these commitments represent a small part of the company 2019s expected capital spending in 2013 and beyond . the purchase obligation amounts do not represent the entire anticipated purchases in the future , but represent only those items for which the company is contractually obligated . the majority of 3m 2019s products and services are purchased as needed , with no unconditional commitment . for this reason , these amounts will not provide a reliable indicator of the company 2019s expected future cash outflows on a stand-alone basis . other obligations , included in the preceding table within the caption entitled 201cunconditional purchase obligations and other , 201d include the current portion of the liability for uncertain tax positions under asc 740 , which is expected to be paid out in cash in the next 12 months . the company is not able to reasonably estimate the timing of the long-term payments or the amount by which the liability will increase or decrease over time ; therefore , the long-term portion of the net tax liability of $ 170 million is excluded from the preceding table . refer to note 7 for further details. .
Question: what was the ratio of the floating rate notes included in the long-term debt payments for 2013 to 2014 | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.59091 | Context:stock-based compensation 2013 we have several stock-based compensation plans under which employees and non-employee directors receive stock options , nonvested retention shares , and nonvested stock units . we refer to the nonvested shares and stock units collectively as 201cretention awards 201d . we issue treasury shares to cover option exercises and stock unit vestings , while new shares are issued when retention shares vest . we adopted fasb statement no . 123 ( r ) , share-based payment ( fas 123 ( r ) ) , on january 1 , 2006 . fas 123 ( r ) requires us to measure and recognize compensation expense for all stock-based awards made to employees and directors , including stock options . compensation expense is based on the calculated fair value of the awards as measured at the grant date and is expensed ratably over the service period of the awards ( generally the vesting period ) . the fair value of retention awards is the stock price on the date of grant , while the fair value of stock options is determined by using the black-scholes option pricing model . we elected to use the modified prospective transition method as permitted by fas 123 ( r ) and did not restate financial results for prior periods . we did not make an adjustment for the cumulative effect of these estimated forfeitures , as the impact was not material . as a result of the adoption of fas 123 ( r ) , we recognized expense for stock options in 2006 , in addition to retention awards , which were expensed prior to 2006 . stock-based compensation expense for the year ended december 31 , 2006 was $ 22 million , after tax , or $ 0.08 per basic and diluted share . this includes $ 9 million for stock options and $ 13 million for retention awards for 2006 . before taxes , stock-based compensation expense included $ 14 million for stock options and $ 21 million for retention awards for 2006 . we recorded $ 29 million of excess tax benefits as an inflow of financing activities in the consolidated statement of cash flows for the year ended december 31 , 2006 . prior to the adoption of fas 123 ( r ) , we applied the recognition and measurement principles of accounting principles board opinion no . 25 , accounting for stock issued to employees , and related interpretations . no stock- based employee compensation expense related to stock option grants was reflected in net income , as all options granted under those plans had a grant price equal to the market value of our common stock on the date of grant . stock-based compensation expense related to retention shares , stock units , and other incentive plans was reflected in net income . the following table details the effect on net income and earnings per share had compensation expense for all of our stock-based awards , including stock options , been recorded in the years ended december 31 , 2005 and 2004 based on the fair value method under fasb statement no . 123 , accounting for stock-based compensation . pro forma stock-based compensation expense year ended december 31 , millions of dollars , except per share amounts 2005 2004 .
|pro forma stock-based compensation expense|pro forma stock-based compensation expense||
|millions of dollars except per share amounts|2005|2004|
|net income as reported|$ 1026|$ 604|
|stock-based employee compensation expense reported in net income net of tax|13|13|
|total stock-based employee compensation expense determined under fair value 2013based method for allawards net of tax [a]|-50 ( 50 )|-35 ( 35 )|
|pro forma net income|$ 989|$ 582|
|earnings per share 2013 basic as reported|$ 3.89|$ 2.33|
|earnings per share 2013 basic pro forma|$ 3.75|$ 2.25|
|earnings per share 2013 diluted as reported|$ 3.85|$ 2.30|
|earnings per share 2013 diluted pro forma|$ 3.71|$ 2.22|
[a] stock options for executives granted in 2003 and 2002 included a reload feature . this reload feature allowed executives to exercise their options using shares of union pacific corporation common stock that they already owned and obtain a new grant of options in the amount of the shares used for exercise plus any shares withheld for tax purposes . the reload feature of these option grants could only be exercised if the .
Question: what was the percent of the total stock based compensation in 2006 for employee retention | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
20.6 | Context:39 annual report 2010 duke realty corporation | | related party transactions we provide property and asset management , leasing , construction and other tenant related services to unconsolidated companies in which we have equity interests . for the years ended december 31 , 2010 , 2009 and 2008 , respectively , we earned management fees of $ 7.6 million , $ 8.4 million and $ 7.8 million , leasing fees of $ 2.7 million , $ 4.2 million and $ 2.8 million and construction and development fees of $ 10.3 million , $ 10.2 million and $ 12.7 million from these companies . we recorded these fees based on contractual terms that approximate market rates for these types of services , and we have eliminated our ownership percentages of these fees in the consolidated financial statements . commitments and contingencies we have guaranteed the repayment of $ 95.4 million of economic development bonds issued by various municipalities in connection with certain commercial developments . we will be required to make payments under our guarantees to the extent that incremental taxes from specified developments are not sufficient to pay the bond debt service . management does not believe that it is probable that we will be required to make any significant payments in satisfaction of these guarantees . we also have guaranteed the repayment of secured and unsecured loans of six of our unconsolidated subsidiaries . at december 31 , 2010 , the maximum guarantee exposure for these loans was approximately $ 245.4 million . with the exception of the guarantee of the debt of 3630 peachtree joint venture , for which we recorded a contingent liability in 2009 of $ 36.3 million , management believes it probable that we will not be required to satisfy these guarantees . we lease certain land positions with terms extending to december 2080 , with a total obligation of $ 103.6 million . no payments on these ground leases are material in any individual year . we are subject to various legal proceedings and claims that arise in the ordinary course of business . in the opinion of management , the amount of any ultimate liability with respect to these actions will not materially affect our consolidated financial statements or results of operations . contractual obligations at december 31 , 2010 , we were subject to certain contractual payment obligations as described in the table below: .
|contractual obligations|payments due by period ( in thousands ) total|payments due by period ( in thousands ) 2011|payments due by period ( in thousands ) 2012|payments due by period ( in thousands ) 2013|payments due by period ( in thousands ) 2014|payments due by period ( in thousands ) 2015|payments due by period ( in thousands ) thereafter|
|long-term debt ( 1 )|$ 5413606|$ 629781|$ 548966|$ 725060|$ 498912|$ 473417|$ 2537470|
|lines of credit ( 2 )|214225|28046|9604|176575|-|-|-|
|share of debt of unconsolidated joint ventures ( 3 )|447573|87602|27169|93663|34854|65847|138438|
|ground leases|103563|2199|2198|2169|2192|2202|92603|
|operating leases|2704|840|419|395|380|370|300|
|development and construction backlog costs ( 4 )|521041|476314|44727|-|-|-|-|
|other|1967|1015|398|229|90|54|181|
|total contractual obligations|$ 6704679|$ 1225797|$ 633481|$ 998091|$ 536428|$ 541890|$ 2768992|
( 1 ) our long-term debt consists of both secured and unsecured debt and includes both principal and interest . interest expense for variable rate debt was calculated using the interest rates as of december 31 , 2010 . ( 2 ) our unsecured lines of credit consist of an operating line of credit that matures february 2013 and the line of credit of a consolidated subsidiary that matures july 2011 . interest expense for our unsecured lines of credit was calculated using the most recent stated interest rates that were in effect . ( 3 ) our share of unconsolidated joint venture debt includes both principal and interest . interest expense for variable rate debt was calculated using the interest rate at december 31 , 2010 . ( 4 ) represents estimated remaining costs on the completion of owned development projects and third-party construction projects. .
Question: what was the total revenues earned in 2016 from managementleasing and construction and development | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
2.2 | Context:morgan stanley notes to consolidated financial statements 2014 ( continued ) consumer price index ) . senior debt also may be structured to be callable by the company or extendible at the option of holders of the senior debt securities . debt containing provisions that effectively allow the holders to put or extend the notes aggregated $ 1175 million at december 31 , 2013 and $ 1131 million at december 31 , 2012 . in addition , separate agreements are entered into by the company 2019s subsidiaries that effectively allow the holders to put the notes aggregated $ 353 million at december 31 , 2013 and $ 1895 million at december 31 , 2012 . subordinated debt and junior subordinated debentures generally are issued to meet the capital requirements of the company or its regulated subsidiaries and primarily are u.s . dollar denominated . senior debt 2014structured borrowings . the company 2019s index-linked , equity-linked or credit-linked borrowings include various structured instruments whose payments and redemption values are linked to the performance of a specific index ( e.g. , standard & poor 2019s 500 ) , a basket of stocks , a specific equity security , a credit exposure or basket of credit exposures . to minimize the exposure resulting from movements in the underlying index , equity , credit or other position , the company has entered into various swap contracts and purchased options that effectively convert the borrowing costs into floating rates based upon libor . these instruments are included in the preceding table at their redemption values based on the performance of the underlying indices , baskets of stocks , or specific equity securities , credit or other position or index . the company carries either the entire structured borrowing at fair value or bifurcates the embedded derivative and carries it at fair value . the swaps and purchased options used to economically hedge the embedded features are derivatives and also are carried at fair value . changes in fair value related to the notes and economic hedges are reported in trading revenues . see note 4 for further information on structured borrowings . subordinated debt and junior subordinated debentures . included in the company 2019s long-term borrowings are subordinated notes of $ 9275 million having a contractual weighted average coupon of 4.69% ( 4.69 % ) at december 31 , 2013 and $ 5845 million having a weighted average coupon of 4.81% ( 4.81 % ) at december 31 , 2012 . junior subordinated debentures outstanding by the company were $ 4849 million at december 31 , 2013 and $ 4827 million at december 31 , 2012 having a contractual weighted average coupon of 6.37% ( 6.37 % ) at both december 31 , 2013 and december 31 , 2012 . maturities of the subordinated and junior subordinated notes range from 2014 to 2067 . maturities of certain junior subordinated debentures can be extended to 2052 at the company 2019s option . asset and liability management . in general , securities inventories that are not financed by secured funding sources and the majority of the company 2019s assets are financed with a combination of deposits , short-term funding , floating rate long-term debt or fixed rate long-term debt swapped to a floating rate . fixed assets are generally financed with fixed rate long-term debt . the company uses interest rate swaps to more closely match these borrowings to the duration , holding period and interest rate characteristics of the assets being funded and to manage interest rate risk . these swaps effectively convert certain of the company 2019s fixed rate borrowings into floating rate obligations . in addition , for non-u.s . dollar currency borrowings that are not used to fund assets in the same currency , the company has entered into currency swaps that effectively convert the borrowings into u.s . dollar obligations . the company 2019s use of swaps for asset and liability management affected its effective average borrowing rate as follows: .
||2013|2012|2011|
|weighted average coupon of long-term borrowings at period-end ( 1 )|4.4% ( 4.4 % )|4.4% ( 4.4 % )|4.0% ( 4.0 % )|
|effective average borrowing rate for long-term borrowings after swaps at period-end ( 1 )|2.2% ( 2.2 % )|2.3% ( 2.3 % )|1.9% ( 1.9 % )|
( 1 ) included in the weighted average and effective average calculations are non-u.s . dollar interest rates . other . the company , through several of its subsidiaries , maintains funded and unfunded committed credit facilities to support various businesses , including the collateralized commercial and residential mortgage whole loan , derivative contracts , warehouse lending , emerging market loan , structured product , corporate loan , investment banking and prime brokerage businesses. .
Question: what was the effect in difference of average borrowing rate due to the use of swaps in 2013? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.007 | Context:mastercard incorporated notes to consolidated financial statements 2014 ( continued ) ( in thousands , except percent and per share data ) upon termination of employment , excluding retirement , all of a participant 2019s unvested awards are forfeited . however , when a participant terminates employment due to retirement , the participant generally retains all of their awards without providing additional service to the company . eligible retirement is dependent upon age and years of service , as follows : age 55 with ten years of service , age 60 with five years of service and age 65 with two years of service . compensation expense is recognized over the shorter of the vesting periods stated in the ltip , or the date the individual becomes eligible to retire . there are 11550 shares of class a common stock reserved for equity awards under the ltip . although the ltip permits the issuance of shares of class b common stock , no such shares have been reserved for issuance . shares issued as a result of option exercises and the conversions of rsus are expected to be funded with the issuance of new shares of class a common stock . stock options the fair value of each option is estimated on the date of grant using a black-scholes option pricing model . the following table presents the weighted-average assumptions used in the valuation and the resulting weighted- average fair value per option granted for the years ended december 31: .
||2009|2008|2007|
|risk-free rate of return|2.5% ( 2.5 % )|3.2% ( 3.2 % )|4.4% ( 4.4 % )|
|expected term ( in years )|6.17|6.25|6.25|
|expected volatility|41.7% ( 41.7 % )|37.9% ( 37.9 % )|30.9% ( 30.9 % )|
|expected dividend yield|0.4% ( 0.4 % )|0.3% ( 0.3 % )|0.6% ( 0.6 % )|
|weighted-average fair value per option granted|$ 71.03|$ 78.54|$ 41.03|
the risk-free rate of return was based on the u.s . treasury yield curve in effect on the date of grant . the company utilizes the simplified method for calculating the expected term of the option based on the vesting terms and the contractual life of the option . the expected volatility for options granted during 2009 was based on the average of the implied volatility of mastercard and a blend of the historical volatility of mastercard and the historical volatility of a group of companies that management believes is generally comparable to mastercard . the expected volatility for options granted during 2008 was based on the average of the implied volatility of mastercard and the historical volatility of a group of companies that management believes is generally comparable to mastercard . as the company did not have sufficient publicly traded stock data historically , the expected volatility for options granted during 2007 was primarily based on the average of the historical and implied volatility of a group of companies that management believed was generally comparable to mastercard . the expected dividend yields were based on the company 2019s expected annual dividend rate on the date of grant. .
Question: what is the variation observed in the risk-free rate of return during 2008 and 2009? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.00734 | Context:the primary product offerings sold through our wholesale channels of distribution include menswear , womenswear , childrenswear , accessories , and home furnishings . our collection brands 2014 women 2019s ralph lauren collection and black label and men 2019s purple label and black label 2014 are distributed worldwide through a limited number of premier fashion retailers . department stores are our major wholesale customers in north america . in latin america , our wholesale products are sold in department stores and specialty stores . in europe , our wholesale sales are a varying mix of sales to both department stores and specialty stores , depending on the country . we also distribute product to certain licensed stores operated by franchisees in europe and asia . in addition , our club monaco products are distributed through select department stores and specialty stores in europe . in japan , our wholesale products are distributed primarily through shop-within-shops at premier and top-tier department stores , and the mix of business is weighted to women 2019s and men's blue label . in the greater china and southeast asia region , our wholesale products are sold at mid and top-tier department stores in china , thailand , and the philippines , and the mix of business is primarily weighted to men 2019s and women 2019s blue label . we sell the majority of our excess and out-of-season products through secondary distribution channels worldwide , including our retail factory stores . worldwide distribution channels the following table presents the number of doors by geographic location in which ralph lauren-branded products distributed by our wholesale segment were sold to consumers in our primary channels of distribution as of march 30 , 2013 : location number of .
|location|number ofdoors|
|the americas|6043|
|europe|4504|
|asia|78|
|total|10625|
in addition , chaps-branded products distributed by our wholesale segment were sold domestically through approximately 1200 doors as of march 30 , we have three key wholesale customers that generate significant sales volume . for fiscal 2013 , these customers in the aggregate accounted for approximately 45% ( 45 % ) of our total wholesale revenues , with macy 2019s , inc . ( "macy's" ) representing approximately 25% ( 25 % ) of our total wholesale revenues . our products are sold primarily through our own sales forces . our wholesale segment maintains its primary showrooms in new york city . in addition , we maintain regional showrooms in boston , milan , paris , london , munich , madrid , and stockholm . shop-within-shops . as a critical element of our distribution to department stores , we and our licensing partners utilize shop-within-shops to enhance brand recognition , to permit more complete merchandising of our lines by the department stores , and to differentiate the presentation of our products . shop- within-shop fixed assets primarily include items such as customized freestanding fixtures , wall cases and components , decorative items , and flooring . as of march 30 , 2013 , we had approximately 20000 shop-within-shops dedicated to our ralph lauren-branded wholesale products worldwide . the size of our shop-within-shops ranges from approximately 100 to 7400 square feet . we normally share in the cost of building-out these shop-within-shops with our wholesale customers . basic stock replenishment program . basic products such as knit shirts , chino pants , oxford cloth shirts , selected accessories , and home products can be ordered by our wholesale customers at any time through our basic stock replenishment programs . we generally ship these products within two-to-five days of order receipt . our retail segment as of march 30 , 2013 , our retail segment consisted of 388 directly-operated freestanding stores worldwide , totaling approximately 3 million square feet , 494 concession-based shop-within-shops , and seven e-commerce websites . the extension of our direct-to-consumer reach is one of our primary long-term strategic goals. .
Question: what percentage of doors in the wholesale segment as of march 30 , 2013 where in the asia geography? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
no | Context:jpmorgan chase & co./2012 annual report 119 implementing further revisions to the capital accord in the u.s . ( such further revisions are commonly referred to as 201cbasel iii 201d ) . basel iii revised basel ii by , among other things , narrowing the definition of capital , and increasing capital requirements for specific exposures . basel iii also includes higher capital ratio requirements and provides that the tier 1 common capital requirement will be increased to 7% ( 7 % ) , comprised of a minimum ratio of 4.5% ( 4.5 % ) plus a 2.5% ( 2.5 % ) capital conservation buffer . implementation of the 7% ( 7 % ) tier 1 common capital requirement is required by january 1 , in addition , global systemically important banks ( 201cgsibs 201d ) will be required to maintain tier 1 common requirements above the 7% ( 7 % ) minimum in amounts ranging from an additional 1% ( 1 % ) to an additional 2.5% ( 2.5 % ) . in november 2012 , the financial stability board ( 201cfsb 201d ) indicated that it would require the firm , as well as three other banks , to hold the additional 2.5% ( 2.5 % ) of tier 1 common ; the requirement will be phased in beginning in 2016 . the basel committee also stated it intended to require certain gsibs to hold an additional 1% ( 1 % ) of tier 1 common under certain circumstances , to act as a disincentive for the gsib from taking actions that would further increase its systemic importance . currently , no gsib ( including the firm ) is required to hold this additional 1% ( 1 % ) of tier 1 common . in addition , pursuant to the requirements of the dodd-frank act , u.s . federal banking agencies have proposed certain permanent basel i floors under basel ii and basel iii capital calculations . the following table presents a comparison of the firm 2019s tier 1 common under basel i rules to its estimated tier 1 common under basel iii rules , along with the firm 2019s estimated risk-weighted assets . tier 1 common under basel iii includes additional adjustments and deductions not included in basel i tier 1 common , such as the inclusion of aoci related to afs securities and defined benefit pension and other postretirement employee benefit ( 201copeb 201d ) plans . the firm estimates that its tier 1 common ratio under basel iii rules would be 8.7% ( 8.7 % ) as of december 31 , 2012 . the tier 1 common ratio under both basel i and basel iii are non- gaap financial measures . however , such measures are used by bank regulators , investors and analysts as a key measure to assess the firm 2019s capital position and to compare the firm 2019s capital to that of other financial services companies . december 31 , 2012 ( in millions , except ratios ) .
|tier 1 common under basel i rules|$ 140342|
|adjustments related to aoci for afs securities and defined benefit pension and opeb plans|4077|
|all other adjustments|-453 ( 453 )|
|estimated tier 1 common under basel iii rules|$ 143966|
|estimated risk-weighted assets under basel iii rules ( a )|$ 1647903|
|estimated tier 1 common ratio under basel iii rules ( b )|8.7% ( 8.7 % )|
estimated risk-weighted assets under basel iii rules ( a ) $ 1647903 estimated tier 1 common ratio under basel iii rules ( b ) 8.7% ( 8.7 % ) ( a ) key differences in the calculation of risk-weighted assets between basel i and basel iii include : ( 1 ) basel iii credit risk rwa is based on risk-sensitive approaches which largely rely on the use of internal credit models and parameters , whereas basel i rwa is based on fixed supervisory risk weightings which vary only by counterparty type and asset class ; ( 2 ) basel iii market risk rwa reflects the new capital requirements related to trading assets and securitizations , which include incremental capital requirements for stress var , correlation trading , and re-securitization positions ; and ( 3 ) basel iii includes rwa for operational risk , whereas basel i does not . the actual impact on the firm 2019s capital ratios upon implementation could differ depending on final implementation guidance from the regulators , as well as regulatory approval of certain of the firm 2019s internal risk models . ( b ) the tier 1 common ratio is tier 1 common divided by rwa . the firm 2019s estimate of its tier 1 common ratio under basel iii reflects its current understanding of the basel iii rules based on information currently published by the basel committee and u.s . federal banking agencies and on the application of such rules to its businesses as currently conducted ; it excludes the impact of any changes the firm may make in the future to its businesses as a result of implementing the basel iii rules , possible enhancements to certain market risk models , and any further implementation guidance from the regulators . the basel iii capital requirements are subject to prolonged transition periods . the transition period for banks to meet the tier 1 common requirement under basel iii was originally scheduled to begin in 2013 , with full implementation on january 1 , 2019 . in november 2012 , the u.s . federal banking agencies announced a delay in the implementation dates for the basel iii capital requirements . the additional capital requirements for gsibs will be phased in starting january 1 , 2016 , with full implementation on january 1 , 2019 . management 2019s current objective is for the firm to reach , by the end of 2013 , an estimated basel iii tier i common ratio of 9.5% ( 9.5 % ) . additional information regarding the firm 2019s capital ratios and the federal regulatory capital standards to which it is subject is presented in supervision and regulation on pages 1 20138 of the 2012 form 10-k , and note 28 on pages 306 2013 308 of this annual report . broker-dealer regulatory capital jpmorgan chase 2019s principal u.s . broker-dealer subsidiaries are j.p . morgan securities llc ( 201cjpmorgan securities 201d ) and j.p . morgan clearing corp . ( 201cjpmorgan clearing 201d ) . jpmorgan clearing is a subsidiary of jpmorgan securities and provides clearing and settlement services . jpmorgan securities and jpmorgan clearing are each subject to rule 15c3-1 under the securities exchange act of 1934 ( the 201cnet capital rule 201d ) . jpmorgan securities and jpmorgan clearing are also each registered as futures commission merchants and subject to rule 1.17 of the commodity futures trading commission ( 201ccftc 201d ) . jpmorgan securities and jpmorgan clearing have elected to compute their minimum net capital requirements in accordance with the 201calternative net capital requirements 201d of the net capital rule . at december 31 , 2012 , jpmorgan securities 2019 net capital , as defined by the net capital rule , was $ 13.5 billion , exceeding the minimum requirement by .
Question: does the current estimated basel iii tier 1 ratio exceed the requirement under basel iii rules as a gsib , once the requirements a re fully phased in? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
4.18 | Context:jpmorgan chase & co./2015 annual report 73 in advisory fees was driven by the combined impact of a greater share of fees for completed transactions , and growth in industry-wide fees . the increase in equity underwriting fees was driven by higher industry-wide issuance . the decrease in debt underwriting fees was primarily related to lower bond underwriting fees compared with the prior year , and lower loan syndication fees on lower industry-wide fees . principal transactions revenue increased as the prior year included a $ 1.5 billion loss related to the implementation of the funding valuation adjustment ( 201cfva 201d ) framework for over-the-counter ( 201cotc 201d ) derivatives and structured notes . private equity gains increased as a result of higher net gains on sales . these increases were partially offset by lower fixed income markets revenue in cib , primarily driven by credit-related and rates products , as well as the impact of business simplification initiatives . lending- and deposit-related fees decreased compared with the prior year , reflecting the impact of business simplification initiatives and lower trade finance revenue in cib . asset management , administration and commissions revenue increased compared with the prior year , reflecting higher asset management fees driven by net client inflows and higher market levels in am and ccb . the increase was offset partially by lower commissions and other fee revenue in ccb as a result of the exit of a non-core product in 2013 . securities gains decreased compared with the prior year , reflecting lower repositioning activity related to the firm 2019s investment securities portfolio . mortgage fees and related income decreased compared with the prior year , predominantly due to lower net production revenue driven by lower volumes due to higher mortgage interest rates , and tighter margins . the decline in net production revenue was partially offset by a lower loss on the risk management of mortgage servicing rights ( 201cmsrs 201d ) . card income was relatively flat compared with the prior year , but included higher net interchange income due to growth in credit and debit card sales volume , offset by higher amortization of new account origination costs . other income decreased from the prior year , predominantly from the absence of two significant items recorded in corporate in 2013 : gains of $ 1.3 billion and $ 493 million from sales of visa shares and one chase manhattan plaza , respectively . lower valuations of seed capital investments in am and losses related to the exit of non-core portfolios in card also contributed to the decrease . these items were partially offset by higher auto lease income as a result of growth in auto lease volume , and a benefit from a tax settlement . net interest income increased slightly from the prior year , predominantly reflecting higher yields on investment securities , the impact of lower interest expense from lower rates , and higher average loan balances . the increase was partially offset by lower yields on loans due to the run-off of higher-yielding loans and new originations of lower-yielding loans , and lower average interest-earning trading asset balances . the firm 2019s average interest-earning assets were $ 2.0 trillion , and the net interest yield on these assets , on a fte basis , was 2.18% ( 2.18 % ) , a decrease of 5 basis points from the prior year . provision for credit losses year ended december 31 .
|( in millions )|2015|2014|2013|
|consumer excluding credit card|$ -81 ( 81 )|$ 419|$ -1871 ( 1871 )|
|credit card|3122|3079|2179|
|total consumer|3041|3498|308|
|wholesale|786|-359 ( 359 )|-83 ( 83 )|
|total provision for credit losses|$ 3827|$ 3139|$ 225|
2015 compared with 2014 the provision for credit losses increased from the prior year as a result of an increase in the wholesale provision , largely reflecting the impact of downgrades in the oil & gas portfolio . the increase was partially offset by a decrease in the consumer provision , reflecting lower net charge-offs due to continued discipline in credit underwriting , as well as improvement in the economy driven by increasing home prices and lower unemployment levels . the increase was partially offset by a lower reduction in the allowance for loan losses . for a more detailed discussion of the credit portfolio and the allowance for credit losses , see the segment discussions of ccb on pages 85 201393 , cb on pages 99 2013101 , and the allowance for credit losses on pages 130 2013132 . 2014 compared with 2013 the provision for credit losses increased by $ 2.9 billion from the prior year as result of a lower benefit from reductions in the consumer allowance for loan losses , partially offset by lower net charge-offs . the consumer allowance reduction in 2014 was primarily related to the consumer , excluding credit card , portfolio and reflected the continued improvement in home prices and delinquencies in the residential real estate portfolio . the wholesale provision reflected a continued favorable credit environment. .
Question: based on the information of the firm 2019s average interest-earning assets were $ 2.0 trillion , and the net interest yield on these assets , on a fte basis , of 2.18% ( 2.18 % ) what was the approximate interest income in billions | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.43298 | Context:notes to consolidated financial statements ( continued ) note 8 2014commitments and contingencies ( continued ) provide renewal options for terms of 3 to 7 additional years . leases for retail space are for terms of 5 to 20 years , the majority of which are for 10 years , and often contain multi-year renewal options . as of september 29 , 2007 , the company 2019s total future minimum lease payments under noncancelable operating leases were $ 1.4 billion , of which $ 1.1 billion related to leases for retail space . rent expense under all operating leases , including both cancelable and noncancelable leases , was $ 151 million , $ 138 million , and $ 140 million in 2007 , 2006 , and 2005 , respectively . future minimum lease payments under noncancelable operating leases having remaining terms in excess of one year as of september 29 , 2007 , are as follows ( in millions ) : fiscal years .
|2008|$ 155|
|2009|172|
|2010|173|
|2011|160|
|2012|148|
|thereafter|617|
|total minimum lease payments|$ 1425|
accrued warranty and indemnifications the company offers a basic limited parts and labor warranty on its hardware products . the basic warranty period for hardware products is typically one year from the date of purchase by the end-user . the company also offers a 90-day basic warranty for its service parts used to repair the company 2019s hardware products . the company provides currently for the estimated cost that may be incurred under its basic limited product warranties at the time related revenue is recognized . factors considered in determining appropriate accruals for product warranty obligations include the size of the installed base of products subject to warranty protection , historical and projected warranty claim rates , historical and projected cost-per-claim , and knowledge of specific product failures that are outside of the company 2019s typical experience . the company assesses the adequacy of its preexisting warranty liabilities and adjusts the amounts as necessary based on actual experience and changes in future estimates . for products accounted for under subscription accounting pursuant to sop no . 97-2 , the company recognizes warranty expense as incurred . the company periodically provides updates to its applications and system software to maintain the software 2019s compliance with specifications . the estimated cost to develop such updates is accounted for as warranty costs that are recognized at the time related software revenue is recognized . factors considered in determining appropriate accruals related to such updates include the number of units delivered , the number of updates expected to occur , and the historical cost and estimated future cost of the resources necessary to develop these updates. .
Question: what percentage of future minimum lease payments under noncancelable operating leases having remaining terms in excess of one year are due after 2012? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
13.6 | Context:skyworks solutions , inc . notes to consolidated financial statements 2014 ( continued ) maintained a valuation allowance of $ 47.0 million . this valuation allowance is comprised of $ 33.6 million related to u.s . state tax credits , of which $ 3.6 million are state tax credits acquired from aati in fiscal year 2012 , and $ 13.4 million related to foreign deferred tax assets . if these benefits are recognized in a future period the valuation allowance on deferred tax assets will be reversed and up to a $ 46.6 million income tax benefit , and up to a $ 0.4 million reduction to goodwill may be recognized . the company will need to generate $ 209.0 million of future united states federal taxable income to utilize our united states deferred tax assets as of september 28 , 2012 . deferred tax assets are recognized for foreign operations when management believes it is more likely than not that the deferred tax assets will be recovered during the carry forward period . the company will continue to assess its valuation allowance in future periods . as of september 28 , 2012 , the company has united states federal net operating loss carry forwards of approximately $ 74.3 million , including $ 29.5 million related to the acquisition of sige , which will expire at various dates through 2030 and $ 28.1 million related to the acquisition of aati , which will expire at various dates through 2031 . the utilization of these net operating losses is subject to certain annual limitations as required under internal revenue code section 382 and similar state income tax provisions . the company also has united states federal income tax credit carry forwards of $ 37.8 million , of which $ 30.4 million of federal income tax credit carry forwards have not been recorded as a deferred tax asset . the company also has state income tax credit carry forwards of $ 33.6 million , for which the company has provided a valuation allowance . the united states federal tax credits expire at various dates through 2032 . the state tax credits relate primarily to california research tax credits which can be carried forward indefinitely . the company has continued to expand its operations and increase its investments in numerous international jurisdictions . these activities will increase the company 2019s earnings attributable to foreign jurisdictions . as of september 28 , 2012 , no provision has been made for united states federal , state , or additional foreign income taxes related to approximately $ 371.5 million of undistributed earnings of foreign subsidiaries which have been or are intended to be permanently reinvested . it is not practicable to determine the united states federal income tax liability , if any , which would be payable if such earnings were not permanently reinvested . the company 2019s gross unrecognized tax benefits totaled $ 52.4 million and $ 32.1 million as of september 28 , 2012 and september 30 , 2011 , respectively . of the total unrecognized tax benefits at september 28 , 2012 , $ 38.8 million would impact the effective tax rate , if recognized . the remaining unrecognized tax benefits would not impact the effective tax rate , if recognized , due to the company 2019s valuation allowance and certain positions which were required to be capitalized . there are no positions which the company anticipates could change within the next twelve months . a reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows ( in thousands ) : unrecognized tax benefits .
||unrecognized tax benefits|
|balance at september 30 2011|$ 32136|
|increases based on positions related to prior years|9004|
|increases based on positions related to current year|11265|
|decreases relating to settlements with taxing authorities|2014|
|decreases relating to lapses of applicable statutes of limitations|-25 ( 25 )|
|balance at september 28 2012|$ 52380|
page 114 annual report .
Question: what amount of unrecognized tax benefits would not impact the effective tax rate , ( in millions ) ? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-0.09997 | Context: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. .
|2016|2015|2014|2013|
|( in thousands )|( in thousands )|( in thousands )|( in thousands )|
|$ 14215|$ 15794|$ 442|$ 4737|
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 .
Question: what is the percentage change in entergy new orleans 2019s receivables from the money pool from 2015 to 2016? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
8.0 | Context:commodity prices risk : certain commodities the company uses in the production of its products are exposed to market price risks . 3m manages commodity price risks through negotiated supply contracts , price protection agreements and forward physical contracts . the company uses commodity price swaps relative to natural gas as cash flow hedges of forecasted transactions to manage price volatility . generally , the length of time over which 3m hedges its exposure to the variability in future cash flows for its forecasted natural gas transactions is 12 months . 3m also enters into commodity price swaps that are not designated in hedge relationships to offset , in part , the impacts of fluctuations in costs associated with the use of certain precious metals . the dollar equivalent gross notional amount of the company 2019s natural gas commodity price swaps designated as cash flow hedges and precious metal commodity price swaps not designated in hedge relationships were $ 19 million and $ 2 million , respectively , at december 31 , 2013 . value at risk : the value at risk analysis is performed annually . a monte carlo simulation technique was used to test the company 2019s exposure to changes in currency rates , interest rates , and commodity prices and assess the risk of loss or benefit in after- tax earnings of financial instruments ( primarily debt ) , derivatives and underlying exposures outstanding at december 31 , 2013 . the model ( third-party bank dataset ) used a 95 percent confidence level over a 12-month time horizon . the exposure to changes in currency rates model used 18 currencies , interest rates related to four currencies , and commodity prices related to five commodities . this model does not purport to represent what actually will be experienced by the company . this model does not include certain hedge transactions , because the company believes their inclusion would not materially impact the results . foreign exchange rate risk of loss or benefit increased in 2013 , primarily due to increases in exposures , which is one of the key drivers in the valuation model . interest rate volatility remained stable in 2013 because interest rates are currently very low and are projected to remain low , based on forward rates . the following table summarizes the possible adverse and positive impacts to after-tax earnings related to these exposures . adverse impact on after-tax earnings positive impact on after-tax earnings .
|( millions )|adverse impact on after-tax earnings 2013|adverse impact on after-tax earnings 2012|adverse impact on after-tax earnings 2013|2012|
|foreign exchange rates|$ -111 ( 111 )|$ -97 ( 97 )|$ 119|$ 105|
|interest rates|-2 ( 2 )|-2 ( 2 )|1|1|
|commodity prices|-2 ( 2 )|-9 ( 9 )|3|7|
in addition to the possible adverse and positive impacts discussed in the preceding table related to foreign exchange rates , recent historical information is as follows . 3m estimates that year-on-year currency effects , including hedging impacts , had the following effects on net income attributable to 3m : 2013 ( $ 74 million decrease ) and 2012 ( $ 103 million decrease ) . this estimate includes the effect of translating profits from local currencies into u.s . dollars ; the impact of currency fluctuations on the transfer of goods between 3m operations in the united states and abroad ; and transaction gains and losses , including derivative instruments designed to reduce foreign currency exchange rate risks and the negative impact of swapping venezuelan bolivars into u.s . dollars . 3m estimates that year-on-year derivative and other transaction gains and losses had the following effects on net income attributable to 3m : 2013 ( $ 12 million decrease ) and 2012 ( $ 49 million increase ) . an analysis of the global exposures related to purchased components and materials is performed at each year-end . a one percent price change would result in a pre-tax cost or savings of approximately $ 76 million per year . the global energy exposure is such that a 10 percent price change would result in a pre-tax cost or savings of approximately $ 45 million per .
Question: in 2013 what was the combined adverse impact on after-tax earnings for foreign exchange rates in millions | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.07605 | Context:entergy corporation and subsidiaries management's financial discussion and analysis refer to 201cselected financial data - five-year comparison of entergy corporation and subsidiaries 201d which accompanies entergy corporation 2019s financial statements in this report for further information with respect to operating statistics . in november 2007 the board approved a plan to pursue a separation of entergy 2019s non-utility nuclear business from entergy through a spin-off of the business to entergy shareholders . in april 2010 , entergy announced that it planned to unwind the business infrastructure associated with the proposed spin-off transaction . as a result of the plan to unwind the business infrastructure , entergy recorded expenses in 2010 for the write-off of certain capitalized costs incurred in connection with the planned spin-off transaction . these costs are discussed in more detail below and throughout this section . net revenue utility following is an analysis of the change in net revenue comparing 2010 to 2009 . amount ( in millions ) .
||amount ( in millions )|
|2009 net revenue|$ 4694|
|volume/weather|231|
|retail electric price|137|
|provision for regulatory proceedings|26|
|rough production cost equalization|19|
|ano decommissioning trust|-24 ( 24 )|
|fuel recovery|-44 ( 44 )|
|other|12|
|2010 net revenue|$ 5051|
the volume/weather variance is primarily due to an increase of 8362 gwh , or 8% ( 8 % ) , in billed electricity usage in all retail sectors , including the effect on the residential sector of colder weather in the first quarter 2010 compared to 2009 and warmer weather in the second and third quarters 2010 compared to 2009 . the industrial sector reflected strong sales growth on continuing signs of economic recovery . the improvement in this sector was primarily driven by inventory restocking and strong exports with the chemicals , refining , and miscellaneous manufacturing sectors leading the improvement . the retail electric price variance is primarily due to : increases in the formula rate plan riders at entergy gulf states louisiana effective november 2009 , january 2010 , and september 2010 , at entergy louisiana effective november 2009 , and at entergy mississippi effective july 2009 ; a base rate increase at entergy arkansas effective july 2010 ; rate actions at entergy texas , including base rate increases effective in may and august 2010 ; a formula rate plan provision of $ 16.6 million recorded in the third quarter 2009 for refunds that were made to customers in accordance with settlements approved by the lpsc ; and the recovery in 2009 by entergy arkansas of 2008 extraordinary storm costs , as approved by the apsc , which ceased in january 2010 . the recovery of storm costs is offset in other operation and maintenance expenses . see note 2 to the financial statements for further discussion of the proceedings referred to above. .
Question: what was the percentage change of the net revenue in 2010 | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.38633 | Context:2000 non-employee director stock option plan ( the 201cdirector stock option plan 201d ) , and the global payments inc . 2011 incentive plan ( the 201c2011 plan 201d ) ( collectively , the 201cplans 201d ) . we made no further grants under the 2000 plan after the 2005 plan was effective , and the director stock option plan expired by its terms on february 1 , 2011 . we will make no future grants under the 2000 plan , the 2005 plan or the director stock option plan . the 2011 plan permits grants of equity to employees , officers , directors and consultants . a total of 14.0 million shares of our common stock was reserved and made available for issuance pursuant to awards granted under the 2011 plan . the following table summarizes share-based compensation expense and the related income tax benefit recognized for our share-based awards and stock options ( in thousands ) : 2016 2015 2014 ( in thousands ) .
||2016|2015 ( in thousands )|2014|
|share-based compensation expense|$ 30809|$ 21056|$ 29793|
|income tax benefit|$ 9879|$ 6907|$ 7126|
we grant various share-based awards pursuant to the plans under what we refer to as our 201clong-term incentive plan . 201d the awards are held in escrow and released upon the grantee 2019s satisfaction of conditions of the award certificate . restricted stock restricted stock awards vest over a period of time , provided , however , that if the grantee is not employed by us on the vesting date , the shares are forfeited . restricted shares cannot be sold or transferred until they have vested . restricted stock granted before fiscal 2015 vests in equal installments on each of the first four anniversaries of the grant date . restricted stock granted during fiscal 2015 and thereafter either vest in equal installments on each of the first three anniversaries of the grant date or cliff vest at the end of a three-year service period . the grant date fair value of restricted stock , which is based on the quoted market value of our common stock at the closing of the award date , is recognized as share-based compensation expense on a straight-line basis over the vesting period . performance units certain of our executives have been granted performance units under our long-term incentive plan . performance units are performance-based restricted stock units that , after a performance period , convert into common shares , which may be restricted . the number of shares is dependent upon the achievement of certain performance measures during the performance period . the target number of performance units and any market-based performance measures ( 201cat threshold , 201d 201ctarget , 201d and 201cmaximum 201d ) are set by the compensation committee of our board of directors . performance units are converted only after the compensation committee certifies performance based on pre-established goals . the performance units granted to certain executives in fiscal 2014 were based on a one-year performance period . after the compensation committee certified the performance results , 25% ( 25 % ) of the performance units converted to unrestricted shares . the remaining 75% ( 75 % ) converted to restricted shares that vest in equal installments on each of the first three anniversaries of the conversion date . the performance units granted to certain executives during fiscal 2015 and fiscal 2016 were based on a three-year performance period . after the compensation committee certifies the performance results for the three-year period , performance units earned will convert into unrestricted common stock . the compensation committee may set a range of possible performance-based outcomes for performance units . depending on the achievement of the performance measures , the grantee may earn up to 200% ( 200 % ) of the target number of shares . for awards with only performance conditions , we recognize compensation expense on a straight-line basis over the performance period using the grant date fair value of the award , which is based on the number of shares expected to be earned according to the level of achievement of performance goals . if the number of shares expected to be earned were to change at any time during the performance period , we would make a cumulative adjustment to share-based compensation expense based on the revised number of shares expected to be earned . global payments inc . | 2016 form 10-k annual report 2013 83 .
Question: how much percent did the income tax benefit increase from 2014 to 2016? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.25547 | Context:issuer purchases of equity securities the following table provides information about our repurchases of common stock during the three-month period ended december 31 , 2007 . period total number of shares purchased average price paid per total number of shares purchased as part of publicly announced program ( a ) maximum number of shares that may yet be purchased under the program ( b ) .
|period|total number ofshares purchased|average pricepaid pershare|total number of sharespurchased as part ofpubliclyannouncedprogram ( a )|maximum number ofshares that may yet bepurchased under theprogram ( b )|
|october|127100|$ 108.58|127100|35573131|
|november|1504300|109.07|1504300|34068831|
|december|1325900|108.78|1325900|32742931|
( a ) we repurchased a total of 2957300 shares of our common stock during the quarter ended december 31 , 2007 under a share repurchase program that we announced in october 2002 . ( b ) our board of directors has approved a share repurchase program for the repurchase of up to 128 million shares of our common stock from time-to-time , including 20 million shares approved for repurchase by our board of directors in september 2007 . under the program , management has discretion to determine the number and price of the shares to be repurchased , and the timing of any repurchases , in compliance with applicable law and regulation . as of december 31 , 2007 , we had repurchased a total of 95.3 million shares under the program . in 2007 , we did not make any unregistered sales of equity securities. .
Question: what percentage remains of the total approved shares for repurchased under the approved share repurchase program? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.26923 | Context:item 2 : properties information concerning applied 2019s principal properties at october 27 , 2013 is set forth below : location type principal use square footage ownership santa clara , ca . . . . . . . . . . . office , plant & warehouse headquarters ; marketing ; manufacturing ; distribution ; research , development , engineering ; customer support 1476000 150000 leased austin , tx . . . . . . . . . . . . . . . office , plant & warehouse manufacturing 1719000 145000 leased rehovot , israel . . . . . . . . . . . office , plant & warehouse manufacturing ; research , development , engineering ; customer support 417000 leased singapore . . . . . . . . . . . . . . . office , plant & warehouse manufacturing and customer support 392000 10000 leased gloucester , ma . . . . . . . . . . . office , plant & warehouse manufacturing ; research , development , engineering ; customer support 315000 131000 leased tainan , taiwan . . . . . . . . . . . office , plant & warehouse manufacturing and customer support 320000 owned because of the interrelation of applied 2019s operations , properties within a country may be shared by the segments operating within that country . products in the silicon systems group are manufactured in austin , texas ; singapore ; gloucester , massachusetts ; and rehovot , israel . remanufactured equipment products in the applied global services segment are produced primarily in austin , texas . products in the display segment are manufactured in tainan , taiwan ; santa clara , california ; and alzenau , germany . products in the energy and environmental solutions segment are primarily manufactured in alzenau , germany ; treviso , italy ; and cheseaux , switzerland . in addition to the above properties , applied also owns and leases offices , plants and/or warehouse locations in 78 locations throughout the world : 18 in europe , 21 in japan , 15 in north america ( principally the united states ) , 8 in china , 7 in korea , 6 in southeast asia , and 3 in taiwan . these facilities are principally used for manufacturing ; research , development and engineering ; and marketing , sales and/or customer support . applied also owns a total of approximately 139 acres of buildable land in texas , california , israel and italy that could accommodate additional building space . applied considers the properties that it owns or leases as adequate to meet its current and future requirements . applied regularly assesses the size , capability and location of its global infrastructure and periodically makes adjustments based on these assessments. .
|location|type|principal use|squarefootage|ownership|
|santa clara ca|office plant & warehouse|headquarters ; marketing ; manufacturing ; distribution ; research developmentengineering ; customer support|1476000150000|ownedleased|
|austin tx|office plant & warehouse|manufacturing|1719000145000|ownedleased|
|rehovot israel|office plant & warehouse|manufacturing ; researchdevelopment engineering;customer support|4170005000|ownedleased|
|singapore|office plant & warehouse|manufacturing andcustomer support|39200010000|ownedleased|
|gloucester ma|office plant & warehouse|manufacturing ; researchdevelopment engineering;customer support|315000131000|ownedleased|
|tainan taiwan|office plant & warehouse|manufacturing andcustomer support|320000|owned|
item 2 : properties information concerning applied 2019s principal properties at october 27 , 2013 is set forth below : location type principal use square footage ownership santa clara , ca . . . . . . . . . . . office , plant & warehouse headquarters ; marketing ; manufacturing ; distribution ; research , development , engineering ; customer support 1476000 150000 leased austin , tx . . . . . . . . . . . . . . . office , plant & warehouse manufacturing 1719000 145000 leased rehovot , israel . . . . . . . . . . . office , plant & warehouse manufacturing ; research , development , engineering ; customer support 417000 leased singapore . . . . . . . . . . . . . . . office , plant & warehouse manufacturing and customer support 392000 10000 leased gloucester , ma . . . . . . . . . . . office , plant & warehouse manufacturing ; research , development , engineering ; customer support 315000 131000 leased tainan , taiwan . . . . . . . . . . . office , plant & warehouse manufacturing and customer support 320000 owned because of the interrelation of applied 2019s operations , properties within a country may be shared by the segments operating within that country . products in the silicon systems group are manufactured in austin , texas ; singapore ; gloucester , massachusetts ; and rehovot , israel . remanufactured equipment products in the applied global services segment are produced primarily in austin , texas . products in the display segment are manufactured in tainan , taiwan ; santa clara , california ; and alzenau , germany . products in the energy and environmental solutions segment are primarily manufactured in alzenau , germany ; treviso , italy ; and cheseaux , switzerland . in addition to the above properties , applied also owns and leases offices , plants and/or warehouse locations in 78 locations throughout the world : 18 in europe , 21 in japan , 15 in north america ( principally the united states ) , 8 in china , 7 in korea , 6 in southeast asia , and 3 in taiwan . these facilities are principally used for manufacturing ; research , development and engineering ; and marketing , sales and/or customer support . applied also owns a total of approximately 139 acres of buildable land in texas , california , israel and italy that could accommodate additional building space . applied considers the properties that it owns or leases as adequate to meet its current and future requirements . applied regularly assesses the size , capability and location of its global infrastructure and periodically makes adjustments based on these assessments. .
Question: what percent of warehouse locations are located in japan . | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.87529 | Context:asia-pacific acquisition on july 24 , 2006 , we completed the purchase of a fifty-six percent ownership interest in the merchant acquiring business of the hongkong and shanghai banking corporation limited , or hsbc . this business provides card payment processing services to merchants in the asia-pacific region . the business includes hsbc 2019s payment processing operations in the following ten countries and territories : brunei , china , hong kong , india , macau , malaysia , maldives , singapore , sri lanka and taiwan . under the terms of the agreement , we initially paid hsbc $ 67.2 million in cash to acquire our ownership interest . we paid an additional $ 1.4 million under this agreement during fiscal 2007 , for a total purchase price of $ 68.6 million to acquire our ownership interest . in conjunction with this acquisition , we entered into a transition services agreement with hsbc that may be terminated at any time . under this agreement , we expect hsbc will continue to perform payment processing operations and related support services until we integrate these functions into our own operations , which we expect will be completed in 2010 . the operating results of this acquisition are included in our consolidated statements of income from the date of the acquisition . business description we are a leading payment processing and consumer money transfer company . as a high-volume processor of electronic transactions , we enable merchants , multinational corporations , financial institutions , consumers , government agencies and other profit and non-profit business enterprises to facilitate payments to purchase goods and services or further other economic goals . our role is to serve as an intermediary in the exchange of information and funds that must occur between parties so that a payment transaction or money transfer can be completed . we were incorporated in georgia as global payments inc . in september 2000 , and we spun-off from our former parent company on january 31 , 2001 . including our time as part of our former parent company , we have provided transaction processing services since 1967 . we market our products and services throughout the united states , canada , europe and the asia-pacific region . we operate in two business segments , merchant services and money transfer , and we offer various products through these segments . our merchant services segment targets customers in many vertical industries including financial institutions , gaming , government , health care , professional services , restaurants , retail , universities and utilities . our money transfer segment primarily targets immigrants in the united states and europe . see note 10 in the notes to consolidated financial statements for additional segment information and 201citem 1a 2014risk factors 201d for a discussion of risks involved with our international operations . total revenues from our merchant services and money transfer segments , by geography and sales channel , are as follows ( amounts in thousands ) : .
||2007|2006|2005|
|domestic direct|$ 558026|$ 481273|$ 410047|
|canada|224570|208126|175190|
|asia-pacific|48449|2014|2014|
|central and eastern europe|51224|47114|40598|
|domestic indirect and other|46873|51987|62033|
|merchant services|929142|788500|687868|
|domestic|115416|109067|91448|
|europe|16965|10489|5015|
|money transfer|132381|119556|96463|
|total revenues|$ 1061523|$ 908056|$ 784331|
.
Question: what percent of total revenues was represented by merchant services in 2007? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.29 | Context:from those currently anticipated and expressed in such forward-looking statements as a result of a number of factors , including those we discuss under 201crisk factors 201d and elsewhere in this form 10-k . you should read 201crisk factors 201d and 201cforward-looking statements . 201d executive overview general american water works company , inc . ( herein referred to as 201camerican water 201d or the 201ccompany 201d ) is the largest investor-owned united states water and wastewater utility company , as measured both by operating revenues and population served . our approximately 6400 employees provide drinking water , wastewater and other water related services to an estimated 15 million people in 47 states and in one canadian province . our primary business involves the ownership of water and wastewater utilities that provide water and wastewater services to residential , commercial , industrial and other customers . our regulated businesses that provide these services are generally subject to economic regulation by state regulatory agencies in the states in which they operate . the federal government and the states also regulate environmental , health and safety and water quality matters . our regulated businesses provide services in 16 states and serve approximately 3.2 million customers based on the number of active service connections to our water and wastewater networks . we report the results of these businesses in our regulated businesses segment . we also provide services that are not subject to economic regulation by state regulatory agencies . we report the results of these businesses in our market-based operations segment . in 2014 , we continued the execution of our strategic goals . our commitment to growth through investment in our regulated infrastructure and expansion of our regulated customer base and our market-based operations , combined with operational excellence led to continued improvement in regulated operating efficiency , improved performance of our market-based operations , and enabled us to provide increased value to our customers and investors . during the year , we focused on growth , addressed regulatory lag , made more efficient use of capital and improved our regulated operation and maintenance ( 201co&m 201d ) efficiency ratio . 2014 financial results for the year ended december 31 , 2014 , we continued to increase net income , while making significant capital investment in our infrastructure and implementing operational efficiency improvements to keep customer rates affordable . highlights of our 2014 operating results compared to 2013 and 2012 include: .
||2014|2013|2012|
|income from continuing operations|$ 2.39|$ 2.07|$ 2.10|
|income ( loss ) from discontinued operations net of tax|$ -0.04 ( 0.04 )|$ -0.01 ( 0.01 )|$ -0.09 ( 0.09 )|
|diluted earnings per share|$ 2.35|$ 2.06|$ 2.01|
continuing operations income from continuing operations included 4 cents per diluted share of costs resulting from the freedom industries chemical spill in west virginia in 2014 and included 14 cents per diluted share in 2013 related to a tender offer . earnings from continuing operations , adjusted for these two items , increased 10% ( 10 % ) , or 22 cents per share , mainly due to favorable operating results from our regulated businesses segment due to higher revenues and lower operating expenses , partially offset by higher depreciation expenses . also contributing to the overall increase in income from continuing operations was lower interest expense in 2014 compared to the same period in 2013. .
Question: what was the growth rate in diluted earnings per share from 2013 to 2014? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
142182884.0 | Context:connection with this matter could have a material adverse impact on our consolidated cash flows and results of operations . item 4 . submission of matters to a vote of security holders on november 14 , 2008 , our stockholders voted to approve our merger with allied waste industries , inc . at a special meeting held for that purpose . results of the voting at that meeting are as follows: .
||affirmative|against|abstentions|
|( 1 ) to issue shares of republic common stock and other securities convertible into or exercisable for shares of republic common stock contemplated by the agreement and plan of merger dated as of june 22 2008 as amended july 31 2008 among republic rs merger wedge inc a wholly owned subsidiary of republic formed for the purpose of the merger and allied waste industries inc .|141728743|297976|156165|
|( 2 ) to adjourn the special meeting if necessary to solicit additional proxies in favor of the foregoing proposal|134081897|8068370|32617|
( 1 ) to issue shares of republic common stock and other securities convertible into or exercisable for shares of republic common stock , contemplated by the agreement and plan of merger , dated as of june 22 , 2008 , as amended july 31 , 2008 , among republic , rs merger wedge , inc , a wholly owned subsidiary of republic , formed for the purpose of the merger , and allied waste industries , inc . . . 141728743 297976 156165 ( 2 ) to adjourn the special meeting , if necessary , to solicit additional proxies in favor of the foregoing proposal . . . . . . . . . . . . . . . . . 134081897 8068370 32617 %%transmsg*** transmitting job : p14076 pcn : 035000000 ***%%pcmsg|33 |00022|yes|no|02/28/2009 17:08|0|0|page is valid , no graphics -- color : d| .
Question: what the total number of votes to issue shares of republic common stock and other securities convertible | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
191983967.93587 | Context:notes to consolidated financial statements minority partner approves the annual budget , receives a detailed monthly reporting package from us , meets with us on a quarterly basis to review the results of the joint venture , reviews and approves the joint venture 2019s tax return before filing , and approves all leases that cover more than a nominal amount of space relative to the total rentable space at each property we do not consolidate the joint venture as we consider these to be substantive participation rights . our joint venture agreements also contain certain pro- tective rights such as the requirement of partner approval to sell , finance or refinance the property and the payment of capital expenditures and operating expenditures outside of the approved budget or operating plan . the table below provides general information on each joint venture as of december 31 , 2009 ( in thousands ) : property partner ownership interest economic interest square feet acquired acquisition price ( 1 ) 1221 avenue of the americas ( 2 ) rgii 45.00% ( 45.00 % ) 45.00% ( 45.00 % ) 2550 12/03 $ 1000000 1515 broadway ( 3 ) sitq 55.00% ( 55.00 % ) 68.45% ( 68.45 % ) 1750 05/02 $ 483500 .
|property|partner|ownership interest|economic interest|square feet|acquired|acquisition price ( 1 )|
|1221 avenue of the americas ( 2 )|rgii|45.00% ( 45.00 % )|45.00% ( 45.00 % )|2550|12/03|$ 1000000|
|1515 broadway ( 3 )|sitq|55.00% ( 55.00 % )|68.45% ( 68.45 % )|1750|05/02|$ 483500|
|100 park avenue|prudential|49.90% ( 49.90 % )|49.90% ( 49.90 % )|834|02/00|$ 95800|
|379 west broadway|sutton|45.00% ( 45.00 % )|45.00% ( 45.00 % )|62|12/05|$ 19750|
|21 west 34thstreet ( 4 )|sutton|50.00% ( 50.00 % )|50.00% ( 50.00 % )|30|07/05|$ 22400|
|800 third avenue ( 5 )|private investors|42.95% ( 42.95 % )|42.95% ( 42.95 % )|526|12/06|$ 285000|
|521 fifth avenue|cif|50.10% ( 50.10 % )|50.10% ( 50.10 % )|460|12/06|$ 240000|
|one court square|jp morgan|30.00% ( 30.00 % )|30.00% ( 30.00 % )|1402|01/07|$ 533500|
|1604-1610 broadway ( 6 )|onyx/sutton|45.00% ( 45.00 % )|63.00% ( 63.00 % )|30|11/05|$ 4400|
|1745 broadway ( 7 )|witkoff/sitq/lehman bros .|32.26% ( 32.26 % )|32.26% ( 32.26 % )|674|04/07|$ 520000|
|1 and 2 jericho plaza|onyx/credit suisse|20.26% ( 20.26 % )|20.26% ( 20.26 % )|640|04/07|$ 210000|
|2 herald square ( 8 )|gramercy|55.00% ( 55.00 % )|55.00% ( 55.00 % )|354|04/07|$ 225000|
|885 third avenue ( 9 )|gramercy|55.00% ( 55.00 % )|55.00% ( 55.00 % )|607|07/07|$ 317000|
|16 court street|cif|35.00% ( 35.00 % )|35.00% ( 35.00 % )|318|07/07|$ 107500|
|the meadows ( 10 )|onyx|50.00% ( 50.00 % )|50.00% ( 50.00 % )|582|09/07|$ 111500|
|388 and 390 greenwich street ( 11 )|sitq|50.60% ( 50.60 % )|50.60% ( 50.60 % )|2600|12/07|$ 1575000|
|27-29 west 34thstreet ( 12 )|sutton|50.00% ( 50.00 % )|50.00% ( 50.00 % )|41|01/06|$ 30000|
|1551-1555 broadway ( 13 )|sutton|10.00% ( 10.00 % )|10.00% ( 10.00 % )|26|07/05|$ 80100|
|717 fifth avenue ( 14 )|sutton/nakash|32.75% ( 32.75 % )|32.75% ( 32.75 % )|120|09/06|$ 251900|
the meadows ( 10 ) onyx 50.00% ( 50.00 % ) 50.00% ( 50.00 % ) 582 09/07 $ 111500 388 and 390 greenwich street ( 11 ) sitq 50.60% ( 50.60 % ) 50.60% ( 50.60 % ) 2600 12/07 $ 1575000 27 201329 west 34th street ( 12 ) sutton 50.00% ( 50.00 % ) 50.00% ( 50.00 % ) 41 01/06 $ 30000 1551 20131555 broadway ( 13 ) sutton 10.00% ( 10.00 % ) 10.00% ( 10.00 % ) 26 07/05 $ 80100 717 fifth avenue ( 14 ) sutton/nakash 32.75% ( 32.75 % ) 32.75% ( 32.75 % ) 120 09/06 $ 251900 ( 1 ) acquisition price represents the actual or implied purchase price for the joint venture . ( 2 ) we acquired our interest from the mcgraw-hill companies , or mhc . mhc is a tenant at the property and accounted for approximately 14.7% ( 14.7 % ) of the property 2019s annualized rent at december 31 , 2009 . we do not manage this joint venture . ( 3 ) under a tax protection agreement established to protect the limited partners of the partnership that transferred 1515 broadway to the joint venture , the joint venture has agreed not to adversely affect the limited partners 2019 tax positions before december 2011 . one tenant , whose leases primarily ends in 2015 , represents approximately 77.4% ( 77.4 % ) of this joint venture 2019s annualized rent at december 31 , 2009 . ( 4 ) effective november 2006 , we deconsolidated this investment . as a result of the recapitalization of the property , we were no longer the primary beneficiary . both partners had the same amount of equity at risk and neither partner controlled the joint venture . ( 5 ) we invested approximately $ 109.5 million in this asset through the origination of a loan secured by up to 47% ( 47 % ) of the interests in the property 2019s ownership , with an option to convert the loan to an equity interest . certain existing members have the right to re-acquire approximately 4% ( 4 % ) of the property 2019s equity . these interests were re-acquired in december 2008 and reduced our interest to 42.95% ( 42.95 % ) ( 6 ) effective april 2007 , we deconsolidated this investment . as a result of the recapitalization of the property , we were no longer the primary beneficiary . both partners had the same amount of equity at risk and neither partner controlled the joint venture . ( 7 ) we have the ability to syndicate our interest down to 14.79% ( 14.79 % ) . ( 8 ) we , along with gramercy , together as tenants-in-common , acquired a fee interest in 2 herald square . the fee interest is subject to a long-term operating lease . ( 9 ) we , along with gramercy , together as tenants-in-common , acquired a fee and leasehold interest in 885 third avenue . the fee and leasehold interests are subject to a long-term operating lease . ( 10 ) we , along with onyx acquired the remaining 50% ( 50 % ) interest on a pro-rata basis in september 2009 . ( 11 ) the property is subject to a 13-year triple-net lease arrangement with a single tenant . ( 12 ) effective may 2008 , we deconsolidated this investment . as a result of the recapitalization of the property , we were no longer the primary beneficiary . both partners had the same amount of equity at risk and neither partner controlled the joint venture . ( 13 ) effective august 2008 , we deconsolidated this investment . as a result of the sale of 80% ( 80 % ) of our interest , the joint venture was no longer a vie . ( 14 ) effective september 2008 , we deconsolidated this investment . as a result of the recapitalization of the property , we were no longer the primary beneficiary. .
Question: what was the total value of the 100 park avenue property based in the acquisition price? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
35.7146 | Context:during 2009 , the company extended the contractual life of 4 million fully vested share options held by 6 employees . as a result of that modification , the company recognized additional compensation expense of $ 1 million for the year ended december 31 , 2009 . restricted stock units ( 201crsus 201d ) performance-based rsus . the company grants performance-based rsus to the company 2019s executive officers and certain employees once per year . the company may also grant performance-based rsus to certain new employees or to employees who assume positions of increasing responsibility at the time those events occur . the number of performance-based rsus that ultimately vest is dependent on one or both of the following as per the terms of the specific award agreement : the achievement of 1 ) internal profitability targets ( performance condition ) and 2 ) market performance targets measured by the comparison of the company 2019s stock performance versus a defined peer group ( market condition ) . the performance-based rsus generally cliff-vest during the company 2019s quarter-end september 30 black-out period three years from the date of grant . the ultimate number of shares of the company 2019s series a common stock issued will range from zero to stretch , with stretch defined individually under each award , net of personal income taxes withheld . the market condition is factored into the estimated fair value per unit and compensation expense for each award will be based on the probability of achieving internal profitability targets , as applicable , and recognized on a straight-line basis over the term of the respective grant , less estimated forfeitures . for performance-based rsus granted without a performance condition , compensation expense is based on the fair value per unit recognized on a straight-line basis over the term of the grant , less estimated forfeitures . in april 2007 , the company granted performance-based rsus to certain employees that vest annually in equal tranches beginning october 1 , 2008 through october 1 , 2011 and include a market condition . the performance- based rsus awarded include a catch-up provision that provides for an additional year of vesting of previously unvested amounts , subject to certain maximums . compensation expense is based on the fair value per unit recognized on a straight-line basis over the term of the grant , less estimated forfeitures . a summary of changes in performance-based rsus outstanding is as follows : number of weighted average fair value ( in thousands ) ( in $ ) .
||number of units ( in thousands )|weighted average fair value ( in $ )|
|nonvested at december 31 2008|1188|19.65|
|granted|420|38.16|
|vested|-79 ( 79 )|21.30|
|forfeited|-114 ( 114 )|17.28|
|nonvested at december 31 2009|1415|25.24|
the fair value of shares vested for performance-based rsus during the years ended december 31 , 2009 and 2008 was $ 2 million and $ 3 million , respectively . there were no vestings that occurred during the year ended december 31 , 2007 . fair value for the company 2019s performance-based rsus was estimated at the grant date using a monte carlo simulation approach . monte carlo simulation was utilized to randomly generate future stock returns for the company and each company in the defined peer group for each grant based on company-specific dividend yields , volatilities and stock return correlations . these returns were used to calculate future performance-based rsu vesting percentages and the simulated values of the vested performance-based rsus were then discounted to present value using a risk-free rate , yielding the expected value of these performance-based rsus . %%transmsg*** transmitting job : d70731 pcn : 119000000 ***%%pcmsg|119 |00016|yes|no|02/10/2010 16:17|0|0|page is valid , no graphics -- color : n| .
Question: what is the total fair value of the non vested units as of december 31 , 2009 , ( in millions ) ? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.11622 | Context:other off-balance sheet commitments lease commitments the company leases various equipment and facilities , including retail space , under noncancelable operating lease arrangements . the company does not currently utilize any other off-balance sheet financing arrangements . the major facility leases are typically for terms not exceeding 10 years and generally provide renewal options for terms not exceeding five additional years . leases for retail space are for terms ranging from five to 20 years , the majority of which are for 10 years , and often contain multi-year renewal options . as of september 29 , 2012 , the company 2019s total future minimum lease payments under noncancelable operating leases were $ 4.4 billion , of which $ 3.1 billion related to leases for retail space . rent expense under all operating leases , including both cancelable and noncancelable leases , was $ 488 million , $ 338 million and $ 271 million in 2012 , 2011 and 2010 , respectively . future minimum lease payments under noncancelable operating leases having remaining terms in excess of one year as of september 29 , 2012 , are as follows ( in millions ) : .
|2013|$ 516|
|2014|556|
|2015|542|
|2016|513|
|2017|486|
|thereafter|1801|
|total minimum lease payments|$ 4414|
other commitments as of september 29 , 2012 , the company had outstanding off-balance sheet third-party manufacturing commitments and component purchase commitments of $ 21.1 billion . in addition to the off-balance sheet commitments mentioned above , the company had outstanding obligations of $ 988 million as of september 29 , 2012 , which were comprised mainly of commitments to acquire capital assets , including product tooling and manufacturing process equipment , and commitments related to advertising , research and development , internet and telecommunications services and other obligations . contingencies the company is subject to various legal proceedings and claims that have arisen in the ordinary course of business and have not been fully adjudicated , certain of which are discussed in part i , item 3 of this form 10-k under the heading 201clegal proceedings 201d and in part i , item 1a of this form 10-k under the heading 201crisk factors . 201d in the opinion of management , there was not at least a reasonable possibility the company may have incurred a material loss , or a material loss in excess of a recorded accrual , with respect to loss contingencies . however , the outcome of litigation is inherently uncertain . therefore , although management considers the likelihood of such an outcome to be remote , if one or more of these legal matters were resolved against the company in a reporting period for amounts in excess of management 2019s expectations , the company 2019s consolidated financial statements for that reporting period could be materially adversely affected . apple inc . vs samsung electronics co. , ltd , et al . on august 24 , 2012 , a jury returned a verdict awarding the company $ 1.05 billion in its lawsuit against samsung electronics and affiliated parties in the united states district court , northern district of california , san jose division . because the award is subject to entry of final judgment and may be subject to appeal , the company has not recognized the award in its consolidated financial statements for the year ended september 29 , 2012. .
Question: what percentage of total minimum lease payments are due in 2016? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
1.28855 | Context:jpmorgan chase & co./2010 annual report 187 trading assets and liabilities trading assets include debt and equity instruments held for trading purposes that jpmorgan chase owns ( 201clong 201d positions ) , certain loans managed on a fair value basis and for which the firm has elected the fair value option , and physical commodities inventories that are generally accounted for at the lower of cost or fair value . trading liabilities include debt and equity instruments that the firm has sold to other parties but does not own ( 201cshort 201d positions ) . the firm is obligated to purchase instruments at a future date to cover the short positions . included in trading assets and trading liabilities are the reported receivables ( unrealized gains ) and payables ( unre- alized losses ) related to derivatives . trading assets and liabilities are carried at fair value on the consolidated balance sheets . bal- ances reflect the reduction of securities owned ( long positions ) by the amount of securities sold but not yet purchased ( short posi- tions ) when the long and short positions have identical committee on uniform security identification procedures ( 201ccusips 201d ) . trading assets and liabilities 2013average balances average trading assets and liabilities were as follows for the periods indicated. .
|year ended december 31 ( in millions )|2010|2009|2008|
|trading assets 2013 debt and equity instruments ( a )|$ 354441|$ 318063|$ 384102|
|trading assets 2013 derivative receivables|84676|110457|121417|
|trading liabilities 2013 debt and equity instruments ( a ) ( b )|78159|60224|78841|
|trading liabilities 2013 derivative payables|65714|77901|93200|
( a ) balances reflect the reduction of securities owned ( long positions ) by the amount of securities sold , but not yet purchased ( short positions ) when the long and short positions have identical cusips . ( b ) primarily represent securities sold , not yet purchased . note 4 2013 fair value option the fair value option provides an option to elect fair value as an alternative measurement for selected financial assets , financial liabilities , unrecognized firm commitments , and written loan com- mitments not previously carried at fair value . elections elections were made by the firm to : 2022 mitigate income statement volatility caused by the differences in the measurement basis of elected instruments ( for example , cer- tain instruments elected were previously accounted for on an accrual basis ) while the associated risk management arrange- ments are accounted for on a fair value basis ; 2022 eliminate the complexities of applying certain accounting models ( e.g. , hedge accounting or bifurcation accounting for hybrid in- struments ) ; and 2022 better reflect those instruments that are managed on a fair value basis . elections include the following : 2022 loans purchased or originated as part of securitization ware- housing activity , subject to bifurcation accounting , or man- aged on a fair value basis . 2022 securities financing arrangements with an embedded deriva- tive and/or a maturity of greater than one year . 2022 owned beneficial interests in securitized financial assets that contain embedded credit derivatives , which would otherwise be required to be separately accounted for as a derivative in- strument . 2022 certain tax credits and other equity investments acquired as part of the washington mutual transaction . 2022 structured notes issued as part of ib 2019s client-driven activities . ( structured notes are financial instruments that contain em- bedded derivatives. ) 2022 long-term beneficial interests issued by ib 2019s consolidated securitization trusts where the underlying assets are carried at fair value. .
Question: in 2010 what was the ratio of the trading assets 2013 derivative receivables to the derivative payables | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
yes | Context:supplementary information on oil and gas producing activities ( unaudited ) changes in the standardized measure of discounted future net cash flows .
|( in millions )|2009|2008|2007|
|sales and transfers of oil and gas produced net of production andadministrative costs|$ -4876 ( 4876 )|$ -6863 ( 6863 )|$ -4613 ( 4613 )|
|net changes in prices and production and administrative costs related tofuture production|4840|-18683 ( 18683 )|12344|
|extensions discoveries and improved recovery less related costs|1399|663|1816|
|development costs incurred during the period|2786|1774|1569|
|changes in estimated future development costs|-3641 ( 3641 )|-1436 ( 1436 )|-1706 ( 1706 )|
|revisions of previous quantity estimates|5110|85|166|
|net changes in purchases and sales of minerals in place|-159 ( 159 )|-13 ( 13 )|23|
|accretion of discount|787|2724|1696|
|net change in income taxes|-4441 ( 4441 )|12633|-6647 ( 6647 )|
|timing and other|-149 ( 149 )|184|-31 ( 31 )|
|net change for the year|1656|-8932 ( 8932 )|4617|
|beginning of the year|4035|12967|8350|
|end of year|$ 5691|$ 4035|$ 12967|
|net change for the year from discontinued operations|$ -|$ 284|$ 528|
.
Question: were total revisions of estimates greater than accretion of discounts? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.0156 | Context:contractual obligations in 2011 , we issued $ 1200 million of senior notes and entered into the credit facility with third-party lenders in the amount of $ 1225 million . as of december 31 , 2011 , total outstanding long-term debt was $ 1859 million , consisting of these senior notes and the credit facility , in addition to $ 105 million of third party debt that remained outstanding subsequent to the spin-off . in connection with the spin-off , we entered into a transition services agreement with northrop grumman , under which northrop grumman or certain of its subsidiaries provides us with certain services to help ensure an orderly transition following the distribution . under the transition services agreement , northrop grumman provides , for up to 12 months following the spin-off , certain enterprise shared services ( including information technology , resource planning , financial , procurement and human resource services ) , benefits support services and other specified services . the original term of the transition services agreement ends on march 31 , 2012 , although we have the right to and have cancelled certain services as we transition to new third-party providers . the services provided by northrop grumman are charged to us at cost , and a limited number of these services may be extended for a period of approximately six months to allow full information systems transition . see note 20 : related party transactions and former parent company equity in item 8 . in connection with the spin-off , we entered into a tax matters agreement with northrop grumman ( the 201ctax matters agreement 201d ) that governs the respective rights , responsibilities and obligations of northrop grumman and us after the spin-off with respect to tax liabilities and benefits , tax attributes , tax contests and other tax sharing regarding u.s . federal , state , local and foreign income taxes , other taxes and related tax returns . we have several liabilities with northrop grumman to the irs for the consolidated u.s . federal income taxes of the northrop grumman consolidated group relating to the taxable periods in which we were part of that group . however , the tax matters agreement specifies the portion of this tax liability for which we will bear responsibility , and northrop grumman has agreed to indemnify us against any amounts for which we are not responsible . the tax matters agreement also provides special rules for allocating tax liabilities in the event that the spin-off , together with certain related transactions , is not tax-free . see note 20 : related party transactions and former parent company equity in item 8 . we do not expect either the transition services agreement or the tax matters agreement to have a significant impact on our financial condition and results of operations . the following table presents our contractual obligations as of december 31 , 2011 , and the related estimated timing of future cash payments : ( $ in millions ) total 2012 2013 - 2014 2015 - 2016 2017 and beyond .
|( $ in millions )|total|2012|2013 - 2014|2015 - 2016|2017 and beyond|
|long-term debt|$ 1859|$ 29|$ 129|$ 396|$ 1305|
|interest payments on long-term debt ( 1 )|854|112|219|202|321|
|operating leases|124|21|32|23|48|
|purchase obligations ( 2 )|2425|1409|763|209|44|
|other long-term liabilities ( 3 )|587|66|96|67|358|
|total contractual obligations|$ 5849|$ 1637|$ 1239|$ 897|$ 2076|
( 1 ) interest payments include interest on $ 554 million of variable interest rate debt calculated based on interest rates at december 31 , 2011 . ( 2 ) a 201cpurchase obligation 201d is defined as an agreement to purchase goods or services that is enforceable and legally binding on us and that specifies all significant terms , including : fixed or minimum quantities to be purchased ; fixed , minimum , or variable price provisions ; and the approximate timing of the transaction . these amounts are primarily comprised of open purchase order commitments to vendors and subcontractors pertaining to funded contracts . ( 3 ) other long-term liabilities primarily consist of total accrued workers 2019 compensation reserves , deferred compensation , and other miscellaneous liabilities , of which $ 201 million is the current portion of workers 2019 compensation liabilities . it excludes obligations for uncertain tax positions of $ 9 million , as the timing of the payments , if any , cannot be reasonably estimated . the above table excludes retirement related contributions . in 2012 , we expect to make minimum and discretionary contributions to our qualified pension plans of approximately $ 153 million and $ 65 million , respectively , exclusive of any u.s . government recoveries . we will continue to periodically evaluate whether to make additional discretionary contributions . in 2012 , we expect to make $ 35 million in contributions for our other postretirement plans , exclusive of any .
Question: what portion of the long-term debt is included in the section of current liabilities on the balance sheet as of december 31 , 2011? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
10215.0 | Context:derivative instruments see quantitative and qualitative disclosures about market risk for a discussion of derivative instruments and associated market risk . dividends to stockholders dividends of $ 0.92 per common share or $ 637 million were paid during 2007 . on january 27 , 2008 , our board of directors declared a dividend of $ 0.24 cents per share on our common stock , payable march 10 , 2008 , to stockholders of record at the close of business on february 20 , 2008 . liquidity and capital resources our main sources of liquidity and capital resources are internally generated cash flow from operations , committed credit facilities and access to both the debt and equity capital markets . our ability to access the debt capital market is supported by our investment grade credit ratings . our senior unsecured debt is currently rated investment grade by standard and poor 2019s corporation , moody 2019s investor services , inc . and fitch ratings with ratings of bbb+ , baa1 , and bbb+ . these ratings were reaffirmed in july 2007 after the western acquisition was announced . because of the alternatives available to us , including internally generated cash flow and potential asset sales , we believe that our short-term and long-term liquidity is adequate to fund operations , including our capital spending programs , stock repurchase program , repayment of debt maturities and any amounts that ultimately may be paid in connection with contingencies . we have a committed $ 3.0 billion revolving credit facility with third-party financial institutions terminating in may 2012 . at december 31 , 2007 , there were no borrowings against this facility and we had no commercial paper outstanding under our u.s . commercial paper program that is backed by this revolving credit facility . on july 26 , 2007 , we filed a universal shelf registration statement with the securities and exchange commission , under which we , as a well-known seasoned issuer , have the ability to issue and sell an indeterminate amount of various types of debt and equity securities . our cash-adjusted debt-to-capital ratio ( total debt-minus-cash to total debt-plus-equity-minus-cash ) was 22 percent at december 31 , 2007 , compared to six percent at year-end 2006 as shown below . this includes $ 498 million of debt that is serviced by united states steel . ( dollars in millions ) 2007 2006 .
|( dollars in millions )|2007|2006|
|long-term debt due within one year|$ 1131|$ 471|
|long-term debt|6084|3061|
|total debt|$ 7215|$ 3532|
|cash|$ 1199|$ 2585|
|trusteed funds from revenue bonds ( a )|$ 744|$ 2013|
|equity|$ 19223|$ 14607|
|calculation:|||
|total debt|$ 7215|$ 3532|
|minus cash|1199|2585|
|minus trusteed funds from revenue bonds|744|2013|
|total debt minus cash|5272|947|
|total debt|7215|3532|
|plus equity|19223|14607|
|minus cash|1199|2585|
|minus trusteed funds from revenue bonds|744|2013|
|total debt plus equity minus cash|$ 24495|$ 15554|
|cash-adjusted debt-to-capital ratio|22% ( 22 % )|6% ( 6 % )|
( a ) following the issuance of the $ 1.0 billion of revenue bonds by the parish of st . john the baptist , the proceeds were trusteed and will be disbursed to us upon our request for reimbursement of expenditures related to the garyville refinery expansion . the trusteed funds are reflected as other noncurrent assets in the accompanying consolidated balance sheet as of december 31 , 2007. .
Question: in millions , what would 2007 total debt increase to if the company fully draws its available revolver? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-0.6038 | Context:performance graph the table below compares the cumulative total shareholder return on our common stock with the cumulative total return of ( i ) the standard & poor 2019s 500 composite stock index ( 201cs&p 500 index 201d ) , ( ii ) the standard & poor 2019s industrials index ( 201cs&p industrials index 201d ) and ( iii ) the standard & poor 2019s consumer durables & apparel index ( 201cs&p consumer durables & apparel index 201d ) , from december 31 , 2005 through december 31 , 2010 , when the closing price of our common stock was $ 12.66 . the graph assumes investments of $ 100 on december 31 , 2005 in our common stock and in each of the three indices and the reinvestment of dividends . performance graph 201020092008200720062005 s&p 500 index s&p industrials index s&p consumer durables & apparel index the table below sets forth the value , as of december 31 for each of the years indicated , of a $ 100 investment made on december 31 , 2005 in each of our common stock , the s&p 500 index , the s&p industrials index and the s&p consumer durables & apparel index and includes the reinvestment of dividends. .
||2006|2007|2008|2009|2010|
|masco|$ 101.79|$ 76.74|$ 42.81|$ 54.89|$ 51.51|
|s&p 500 index|$ 115.61|$ 121.95|$ 77.38|$ 97.44|$ 111.89|
|s&p industrials index|$ 113.16|$ 126.72|$ 76.79|$ 92.30|$ 116.64|
|s&p consumer durables & apparel index|$ 106.16|$ 84.50|$ 56.13|$ 76.51|$ 99.87|
in july 2007 , our board of directors authorized the purchase of up to 50 million shares of our common stock in open-market transactions or otherwise . at december 31 , 2010 , we had remaining authorization to repurchase up to 27 million shares . during 2010 , we repurchased and retired three million shares of our common stock , for cash aggregating $ 45 million to offset the dilutive impact of the 2010 grant of three million shares of long-term stock awards . we did not purchase any shares during the three months ended december 31 , 2010. .
Question: what was the difference in percentage cumulative total shareholder return on masco common stock versus the s&p 500 index for the five year period ended 2010? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
9914.0 | Context:management 2019s discussion and analysis institutional client services our institutional client services segment is comprised of : fixed income , currency and commodities client execution . includes client execution activities related to making markets in interest rate products , credit products , mortgages , currencies and commodities . we generate market-making revenues in these activities in three ways : 2030 in large , highly liquid markets ( such as markets for u.s . treasury bills or certain mortgage pass-through certificates ) , we execute a high volume of transactions for our clients for modest spreads and fees . 2030 in less liquid markets ( such as mid-cap corporate bonds , growth market currencies or certain non-agency mortgage-backed securities ) , we execute transactions for our clients for spreads and fees that are generally somewhat larger . 2030 we also structure and execute transactions involving customized or tailor-made products that address our clients 2019 risk exposures , investment objectives or other complex needs ( such as a jet fuel hedge for an airline ) . given the focus on the mortgage market , our mortgage activities are further described below . our activities in mortgages include commercial mortgage- related securities , loans and derivatives , residential mortgage-related securities , loans and derivatives ( including u.s . government agency-issued collateralized mortgage obligations , other prime , subprime and alt-a securities and loans ) , and other asset-backed securities , loans and derivatives . we buy , hold and sell long and short mortgage positions , primarily for market making for our clients . our inventory therefore changes based on client demands and is generally held for short-term periods . see notes 18 and 27 to the consolidated financial statements for information about exposure to mortgage repurchase requests , mortgage rescissions and mortgage-related litigation . equities . includes client execution activities related to making markets in equity products and commissions and fees from executing and clearing institutional client transactions on major stock , options and futures exchanges worldwide , as well as over-the-counter transactions . equities also includes our securities services business , which provides financing , securities lending and other prime brokerage services to institutional clients , including hedge funds , mutual funds , pension funds and foundations , and generates revenues primarily in the form of interest rate spreads or fees . the table below presents the operating results of our institutional client services segment. .
|in millions|year ended december 2013|year ended december 2012|year ended december 2011|
|fixed income currency and commodities client execution|$ 8651|$ 9914|$ 9018|
|equities client execution1|2594|3171|3031|
|commissions and fees|3103|3053|3633|
|securities services|1373|1986|1598|
|total equities|7070|8210|8262|
|total net revenues|15721|18124|17280|
|operating expenses|11782|12480|12837|
|pre-tax earnings|$ 3939|$ 5644|$ 4443|
1 . in april 2013 , we completed the sale of a majority stake in our americas reinsurance business and no longer consolidate this business . net revenues related to the americas reinsurance business were $ 317 million for 2013 , $ 1.08 billion for 2012 and $ 880 million for 2011 . see note 12 to the consolidated financial statements for further information about this sale . 2013 versus 2012 . net revenues in institutional client services were $ 15.72 billion for 2013 , 13% ( 13 % ) lower than 2012 . net revenues in fixed income , currency and commodities client execution were $ 8.65 billion for 2013 , 13% ( 13 % ) lower than 2012 , reflecting significantly lower net revenues in interest rate products compared with a solid 2012 , and significantly lower net revenues in mortgages compared with a strong 2012 . the decrease in interest rate products and mortgages primarily reflected the impact of a more challenging environment and lower activity levels compared with 2012 . in addition , net revenues in currencies were slightly lower , while net revenues in credit products and commodities were essentially unchanged compared with 2012 . in december 2013 , we completed the sale of a majority stake in our european insurance business and recognized a gain of $ 211 million . 50 goldman sachs 2013 annual report .
Question: in millions , for 2013 , 2012 and 2011 , what was maximum fixed income currency and commodities client execution? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
Subsets and Splits