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0.0 | Context:abiomed , inc . and subsidiaries notes to consolidated financial statements 2014 ( continued ) note 8 . goodwill and in-process research and development ( continued ) the company has no accumulated impairment losses on goodwill . the company performed a step 0 qualitative assessment during the annual impairment review for fiscal 2015 as of october 31 , 2014 and concluded that it is not more likely than not that the fair value of the company 2019s single reporting unit is less than its carrying amount . therefore , the two-step goodwill impairment test for the reporting unit was not necessary in fiscal 2015 . as described in note 3 . 201cacquisitions , 201d in july 2014 , the company acquired ecp and ais and recorded $ 18.5 million of ipr&d . the estimated fair value of the ipr&d was determined using a probability-weighted income approach , which discounts expected future cash flows to present value . the projected cash flows from the expandable catheter pump technology were based on certain key assumptions , including estimates of future revenue and expenses , taking into account the stage of development of the technology at the acquisition date and the time and resources needed to complete development . the company used a discount rate of 22.5% ( 22.5 % ) and cash flows that have been probability adjusted to reflect the risks of product commercialization , which the company believes are appropriate and representative of market participant assumptions . the carrying value of the company 2019s ipr&d assets and the change in the balance for the year ended march 31 , 2015 is as follows : march 31 , ( in $ 000 2019s ) .
||march 31 2015 ( in $ 000 2019s )|
|beginning balance|$ 2014|
|additions|18500|
|foreign currency translation impact|-3789 ( 3789 )|
|ending balance|$ 14711|
note 9 . stockholders 2019 equity class b preferred stock the company has authorized 1000000 shares of class b preferred stock , $ .01 par value , of which the board of directors can set the designation , rights and privileges . no shares of class b preferred stock have been issued or are outstanding . stock repurchase program in november 2012 , the company 2019s board of directors authorized a stock repurchase program for up to $ 15.0 million of its common stock . the company financed the stock repurchase program with its available cash . during the year ended march 31 , 2013 , the company repurchased 1123587 shares for $ 15.0 million in open market purchases at an average cost of $ 13.39 per share , including commission expense . the company completed the purchase of common stock under this stock repurchase program in january 2013 . note 10 . stock award plans and stock-based compensation stock award plans the company grants stock options and restricted stock awards to employees and others . all outstanding stock options of the company as of march 31 , 2015 were granted with an exercise price equal to the fair market value on the date of grant . outstanding stock options , if not exercised , expire 10 years from the date of grant . the company 2019s 2008 stock incentive plan ( the 201cplan 201d ) authorizes the grant of a variety of equity awards to the company 2019s officers , directors , employees , consultants and advisers , including awards of unrestricted and restricted stock , restricted stock units , incentive and nonqualified stock options to purchase shares of common stock , performance share awards and stock appreciation rights . the plan provides that options may only be granted at the current market value on the date of grant . each share of stock issued pursuant to a stock option or stock appreciation right counts as one share against the maximum number of shares issuable under the plan , while each share of stock issued .
Question: what percentage of the class b preferred stock is currently outstanding? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
205.40833 | Context:82 | 2017 form 10-k a reconciliation of the beginning and ending amount of gross unrecognized tax benefits for uncertain tax positions , including positions impacting only the timing of tax benefits , follows . reconciliation of unrecognized tax benefits:1 years a0ended a0december a031 .
|( millions of dollars )|years ended december 31 , 2017|years ended december 31 , 2016|
|balance at january 1,|$ 1032|$ 968|
|additions for tax positions related to current year|270|73|
|additions for tax positions related to prior years|20|55|
|reductions for tax positions related to prior years|-27 ( 27 )|-36 ( 36 )|
|reductions for settlements2|-9 ( 9 )|-24 ( 24 )|
|reductions for expiration of statute of limitations|2014|-4 ( 4 )|
|balance at december 31,|$ 1286|$ 1032|
|amount that if recognized would impact the effective tax rate|$ 1209|$ 963|
1 foreign currency impacts are included within each line as applicable . 2 includes cash payment or other reduction of assets to settle liability . we classify interest and penalties on income taxes as a component of the provision for income taxes . we recognized a net provision for interest and penalties of $ 38 million , $ 34 million and $ 20 million during the years ended december 31 , 2017 , 2016 and 2015 , respectively . the total amount of interest and penalties accrued was $ 157 million and $ 120 million as of december a031 , 2017 and 2016 , respectively . on january 31 , 2018 , we received a revenue agent 2019s report from the irs indicating the end of the field examination of our u.s . income tax returns for 2010 to 2012 . in the audits of 2007 to 2012 including the impact of a loss carryback to 2005 , the irs has proposed to tax in the united states profits earned from certain parts transactions by csarl , based on the irs examination team 2019s application of the 201csubstance-over-form 201d or 201cassignment-of-income 201d judicial doctrines . we are vigorously contesting the proposed increases to tax and penalties for these years of approximately $ 2.3 billion . we believe that the relevant transactions complied with applicable tax laws and did not violate judicial doctrines . we have filed u.s . income tax returns on this same basis for years after 2012 . based on the information currently available , we do not anticipate a significant increase or decrease to our unrecognized tax benefits for this matter within the next 12 months . we currently believe the ultimate disposition of this matter will not have a material adverse effect on our consolidated financial position , liquidity or results of operations . with the exception of a loss carryback to 2005 , tax years prior to 2007 are generally no longer subject to u.s . tax assessment . in our major non-u.s . jurisdictions including australia , brazil , china , germany , japan , mexico , switzerland , singapore and the u.k. , tax years are typically subject to examination for three to ten years . due to the uncertainty related to the timing and potential outcome of audits , we cannot estimate the range of reasonably possible change in unrecognized tax benefits in the next 12 months. .
Question: assuming the same rate of change as in 2017 , what would the 2018 total amount of interest and penalties accrued equal 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: |
0.17741 | Context:the segment had operating earnings of $ 709 million in 2007 , compared to operating earnings of $ 787 million in 2006 . the decrease in operating earnings was primarily due to a decrease in gross margin , driven by : ( i ) lower net sales of iden infrastructure equipment , and ( ii ) continued competitive pricing pressure in the market for gsm infrastructure equipment , partially offset by : ( i ) increased net sales of digital entertainment devices , and ( ii ) the reversal of reorganization of business accruals recorded in 2006 relating to employee severance which were no longer needed . sg&a expenses increased primarily due to the expenses from recently acquired businesses , partially offset by savings from cost-reduction initiatives . r&d expenditures decreased primarily due to savings from cost- reduction initiatives , partially offset by expenditures by recently acquired businesses and continued investment in digital entertainment devices and wimax . as a percentage of net sales in 2007 as compared to 2006 , gross margin , sg&a expenses , r&d expenditures and operating margin all decreased . in 2007 , sales to the segment 2019s top five customers represented approximately 43% ( 43 % ) of the segment 2019s net sales . the segment 2019s backlog was $ 2.6 billion at december 31 , 2007 , compared to $ 3.2 billion at december 31 , 2006 . in the home business , demand for the segment 2019s products depends primarily on the level of capital spending by broadband operators for constructing , rebuilding or upgrading their communications systems , and for offering advanced services . during the second quarter of 2007 , the segment began shipping digital set-tops that support the federal communications commission ( 201cfcc 201d ) 2014 mandated separable security requirement . fcc regulations mandating the separation of security functionality from set-tops went into effect on july 1 , 2007 . as a result of these regulations , many cable service providers accelerated their purchases of set-tops in the first half of 2007 . additionally , in 2007 , our digital video customers significantly increased their purchases of the segment 2019s products and services , primarily due to increased demand for digital entertainment devices , particularly hd/dvr devices . during 2007 , the segment completed the acquisitions of : ( i ) netopia , inc. , a broadband equipment provider for dsl customers , which allows for phone , tv and fast internet connections , ( ii ) tut systems , inc. , a leading developer of edge routing and video encoders , ( iii ) modulus video , inc. , a provider of mpeg-4 advanced coding compression systems designed for delivery of high-value video content in ip set-top devices for the digital video , broadcast and satellite marketplaces , ( iv ) terayon communication systems , inc. , a provider of real-time digital video networking applications to cable , satellite and telecommunication service providers worldwide , and ( v ) leapstone systems , inc. , a provider of intelligent multimedia service delivery and content management applications to networks operators . these acquisitions enhance our ability to provide complete end-to-end systems for the delivery of advanced video , voice and data services . in december 2007 , motorola completed the sale of ecc to emerson for $ 346 million in cash . enterprise mobility solutions segment the enterprise mobility solutions segment designs , manufactures , sells , installs and services analog and digital two-way radio , voice and data communications products and systems for private networks , wireless broadband systems and end-to-end enterprise mobility solutions to a wide range of enterprise markets , including government and public safety agencies ( which , together with all sales to distributors of two-way communication products , are referred to as the 201cgovernment and public safety market 201d ) , as well as retail , energy and utilities , transportation , manufacturing , healthcare and other commercial customers ( which , collectively , are referred to as the 201ccommercial enterprise market 201d ) . in 2008 , the segment 2019s net sales represented 27% ( 27 % ) of the company 2019s consolidated net sales , compared to 21% ( 21 % ) in 2007 and 13% ( 13 % ) in 2006 . ( dollars in millions ) 2008 2007 2006 2008 20142007 2007 20142006 years ended december 31 percent change .
|( dollars in millions )|years ended december 31 2008|years ended december 31 2007|years ended december 31 2006|years ended december 31 2008 20142007|2007 20142006|
|segment net sales|$ 8093|$ 7729|$ 5400|5% ( 5 % )|43% ( 43 % )|
|operating earnings|1496|1213|958|23% ( 23 % )|27% ( 27 % )|
segment results 20142008 compared to 2007 in 2008 , the segment 2019s net sales increased 5% ( 5 % ) to $ 8.1 billion , compared to $ 7.7 billion in 2007 . the 5% ( 5 % ) increase in net sales reflects an 8% ( 8 % ) increase in net sales to the government and public safety market , partially offset by a 2% ( 2 % ) decrease in net sales to the commercial enterprise market . the increase in net sales to the government and public safety market was primarily driven by : ( i ) increased net sales outside of north america , and ( ii ) the net sales generated by vertex standard co. , ltd. , a business the company acquired a controlling interest of in january 2008 , partially offset by lower net sales in north america . on a geographic basis , the segment 2019s net sales were higher in emea , asia and latin america and lower in north america . 65management 2019s discussion and analysis of financial condition and results of operations %%transmsg*** transmitting job : c49054 pcn : 068000000 ***%%pcmsg|65 |00024|yes|no|02/24/2009 12:31|0|0|page is valid , no graphics -- color : n| .
Question: what was the efficiently , in a percent , of converting segmented sales to operating earnings for 2006? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.42338 | Context:jpmorgan chase & co./2009 annual report consolidated results of operations this following section provides a comparative discussion of jpmorgan chase 2019s consolidated results of operations on a reported basis for the three-year period ended december 31 , 2009 . factors that related primarily to a single business segment are discussed in more detail within that business segment . for a discussion of the critical ac- counting estimates used by the firm that affect the consolidated results of operations , see pages 135 2013139 of this annual report . revenue year ended december 31 , ( in millions ) 2009 2008 2007 .
|year ended december 31 ( in millions )|2009|2008|2007|
|investment banking fees|$ 7087|$ 5526|$ 6635|
|principal transactions|9796|-10699 ( 10699 )|9015|
|lending- and deposit-related fees|7045|5088|3938|
|asset management administrationand commissions|12540|13943|14356|
|securities gains|1110|1560|164|
|mortgage fees and related income|3678|3467|2118|
|credit card income|7110|7419|6911|
|other income|916|2169|1829|
|noninterest revenue|49282|28473|44966|
|net interest income|51152|38779|26406|
|total net revenue|$ 100434|$ 67252|$ 71372|
2009 compared with 2008 total net revenue was $ 100.4 billion , up by $ 33.2 billion , or 49% ( 49 % ) , from the prior year . the increase was driven by higher principal transactions revenue , primarily related to improved performance across most fixed income and equity products , and the absence of net markdowns on legacy leveraged lending and mortgage positions in ib , as well as higher levels of trading gains and investment securities income in corporate/private equity . results also benefited from the impact of the washington mutual transaction , which contributed to increases in net interest income , lending- and deposit-related fees , and mortgage fees and related income . lastly , higher investment banking fees also contributed to revenue growth . these increases in revenue were offset partially by reduced fees and commissions from the effect of lower market levels on assets under management and custody , and the absence of proceeds from the sale of visa shares in its initial public offering in the first quarter of 2008 . investment banking fees increased from the prior year , due to higher equity and debt underwriting fees . for a further discussion of invest- ment banking fees , which are primarily recorded in ib , see ib segment results on pages 63 201365 of this annual report . principal transactions revenue , which consists of revenue from trading and private equity investing activities , was significantly higher com- pared with the prior year . trading revenue increased , driven by improved performance across most fixed income and equity products ; modest net gains on legacy leveraged lending and mortgage-related positions , compared with net markdowns of $ 10.6 billion in the prior year ; and gains on trading positions in corporate/private equity , compared with losses in the prior year of $ 1.1 billion on markdowns of federal national mortgage association ( 201cfannie mae 201d ) and fed- eral home loan mortgage corporation ( 201cfreddie mac 201d ) preferred securities . these increases in revenue were offset partially by an aggregate loss of $ 2.3 billion from the tightening of the firm 2019s credit spread on certain structured liabilities and derivatives , compared with gains of $ 2.0 billion in the prior year from widening spreads on these liabilities and derivatives . the firm 2019s private equity investments pro- duced a slight net loss in 2009 , a significant improvement from a larger net loss in 2008 . for a further discussion of principal transac- tions revenue , see ib and corporate/private equity segment results on pages 63 201365 and 82 201383 , respectively , and note 3 on pages 156 2013 173 of this annual report . lending- and deposit-related fees rose from the prior year , predomi- nantly reflecting the impact of the washington mutual transaction and organic growth in both lending- and deposit-related fees in rfs , cb , ib and tss . for a further discussion of lending- and deposit- related fees , which are mostly recorded in rfs , tss and cb , see the rfs segment results on pages 66 201371 , the tss segment results on pages 77 201378 , and the cb segment results on pages 75 201376 of this annual report . the decline in asset management , administration and commissions revenue compared with the prior year was largely due to lower asset management fees in am from the effect of lower market levels . also contributing to the decrease were lower administration fees in tss , driven by the effect of market depreciation on certain custody assets and lower securities lending balances ; and lower brokerage commis- sions revenue in ib , predominantly related to lower transaction vol- ume . for additional information on these fees and commissions , see the segment discussions for tss on pages 77 201378 , and am on pages 79 201381 of this annual report . securities gains were lower in 2009 and included credit losses related to other-than-temporary impairment and lower gains on the sale of mastercard shares of $ 241 million in 2009 , compared with $ 668 million in 2008 . these decreases were offset partially by higher gains from repositioning the corporate investment securities portfolio in connection with managing the firm 2019s structural interest rate risk . for a further discussion of securities gains , which are mostly recorded in corporate/private equity , see the corpo- rate/private equity segment discussion on pages 82 201383 of this annual report . mortgage fees and related income increased slightly from the prior year , as higher net mortgage servicing revenue was largely offset by lower production revenue . the increase in net mortgage servicing revenue was driven by growth in average third-party loans serviced as a result of the washington mutual transaction . mortgage production revenue declined from the prior year , reflecting an increase in esti- mated losses from the repurchase of previously-sold loans , offset partially by wider margins on new originations . for a discussion of mortgage fees and related income , which is recorded primarily in rfs 2019s consumer lending business , see the consumer lending discus- sion on pages 68 201371 of this annual report . credit card income , which includes the impact of the washington mutual transaction , decreased slightly compared with the prior year .
Question: what percent of total net revenue was noninterest revenue 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: |
0.02395 | Context:affected by lower sales volume of cabinets , the divestiture of our arrow and moores businesses , and an unfavorable sales mix of international plumbing products , which , in aggregate , decreased sales by approximately two percent compared to 2016 . net sales for 2016 were positively affected by increased sales volume of plumbing products , paints and other coating products and builders' hardware , which , in aggregate , increased sales by approximately five percent compared to 2015 . net sales for 2016 were also positively affected by favorable sales mix of cabinets and windows , and net selling price increases of north american windows and north american and international plumbing products , which , in aggregate , increased sales approximately one percent . net sales for 2016 were negatively affected by lower sales volume of cabinets and lower net selling prices of paints and other coating products , which , in aggregate , decreased sales by approximately two percent . net sales for 2015 were positively affected by increased sales volume of plumbing products , paints and other coating products , windows and builders' hardware . net sales for 2015 were also positively affected by net selling price increases of plumbing products , cabinets and windows , as well as sales mix of north american cabinets and windows . net sales for 2015 were negatively affected by lower sales volume of cabinets and lower net selling prices of paints and other coating products . our gross profit margins were 34.2 percent , 33.4 percent and 31.5 percent in 2017 , 2016 and 2015 , respectively . the 2017 and 2016 gross profit margins were positively impacted by increased sales volume , a more favorable relationship between net selling prices and commodity costs , and cost savings initiatives . 2016 gross profit margins were negatively impacted by an increase in warranty costs resulting from a change in our estimate of expected future warranty claim costs . selling , general and administrative expenses as a percent of sales were 18.9 percent in 2017 compared with 19.1 percent in 2016 and 18.7 percent in 2015 . selling , general and administrative expenses as a percent of sales in 2017 reflect increased sales and the effect of cost containment measures , partially offset by an increase in strategic growth investments , stock-based compensation , health insurance costs and trade show costs . selling , general and administrative expenses as a percent of sales in 2016 reflect strategic growth investments , erp system implementation costs and higher insurance costs . the following table reconciles reported operating profit to operating profit , as adjusted to exclude certain items , dollars in millions: .
||2017|2016|2015|
|operating profit as reported|$ 1169|$ 1053|$ 914|
|rationalization charges|4|22|18|
|gain from sale of property and equipment|2014|2014|-5 ( 5 )|
|operating profit as adjusted|$ 1173|$ 1075|$ 927|
|operating profit margins as reported|15.3% ( 15.3 % )|14.3% ( 14.3 % )|12.8% ( 12.8 % )|
|operating profit margins as adjusted|15.3% ( 15.3 % )|14.6% ( 14.6 % )|13.0% ( 13.0 % )|
operating profit margins in 2017 and 2016 were positively affected by increased sales volume , cost savings initiatives , and a more favorable relationship between net selling prices and commodity costs . operating profit margin in 2017 was negatively impacted by an increase in strategic growth investments and certain other expenses , including stock-based compensation , health insurance costs , trade show costs and increased head count . operating profit margin in 2016 was negatively impacted by an increase in warranty costs by a business in our windows and other specialty products segment and an increase in strategic growth investments , as well as erp system implementation costs and higher insurance costs . .......................................................... . .................................................................. . ..................................... . ........................................................ . ............................................ . ............................................. .
Question: what was the percentage change in the gross profit margins from 2016 to 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: |
-1.86301 | Context:entergy arkansas , inc . management's financial discussion and analysis results of operations net income 2008 compared to 2007 net income decreased $ 92.0 million primarily due to higher other operation and maintenance expenses , higher depreciation and amortization expenses , and a higher effective income tax rate , partially offset by higher net revenue . the higher other operation and maintenance expenses resulted primarily from the write-off of approximately $ 70.8 million of costs as a result of the december 2008 arkansas court of appeals decision in entergy arkansas' base rate case . the base rate case is discussed in more detail in note 2 to the financial statements . 2007 compared to 2006 net income decreased $ 34.0 million primarily due to higher other operation and maintenance expenses , higher depreciation and amortization expenses , and a higher effective income tax rate . the decrease was partially offset by higher net revenue . net revenue 2008 compared to 2007 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory credits . following is an analysis of the change in net revenue comparing 2008 to 2007 . amount ( in millions ) .
||amount ( in millions )|
|2007 net revenue|$ 1110.6|
|rider revenue|13.6|
|purchased power capacity|4.8|
|volume/weather|-14.6 ( 14.6 )|
|other|3.5|
|2008 net revenue|$ 1117.9|
the rider revenue variance is primarily due to an energy efficiency rider which became effective in november 2007 . the establishment of the rider results in an increase in rider revenue and a corresponding increase in other operation and maintenance expense with no effect on net income . also contributing to the variance was an increase in franchise tax rider revenue as a result of higher retail revenues . the corresponding increase is in taxes other than income taxes , resulting in no effect on net income . the purchased power capacity variance is primarily due to lower reserve equalization expenses . the volume/weather variance is primarily due to the effect of less favorable weather on residential and commercial sales during the billed and unbilled sales periods compared to 2007 and a 2.9% ( 2.9 % ) volume decrease in industrial sales , primarily in the wood industry and the small customer class . billed electricity usage decreased 333 gwh in all sectors . see "critical accounting estimates" below and note 1 to the financial statements for further discussion of the accounting for unbilled revenues. .
Question: what percent of the net change in revenue between 2007 and 2008 was due to rider revenue? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.23511 | Context:additions to property , plant and equipment are our most significant use of cash and cash equivalents . the following table shows capital expenditures related to continuing operations by segment and reconciles to additions to property , plant and equipment as presented in the consolidated statements of cash flows for 2014 , 2013 and 2012: .
|( in millions )|year ended december 31 , 2014|year ended december 31 , 2013|year ended december 31 , 2012|
|north america e&p|$ 4698|$ 3649|$ 3988|
|international e&p|534|456|235|
|oil sands mining|212|286|188|
|corporate|51|58|115|
|total capital expenditures|5495|4449|4526|
|change in capital expenditure accrual|-335 ( 335 )|-6 ( 6 )|-165 ( 165 )|
|additions to property plant and equipment|$ 5160|$ 4443|$ 4361|
as of december 31 , 2014 , we had repurchased a total of 121 million common shares at a cost of $ 4.7 billion , including 29 million shares at a cost of $ 1 billion in the first six months of 2014 and 14 million shares at a cost of $ 500 million in the third quarter of 2013 . see item 8 . financial statements and supplementary data 2013 note 22 to the consolidated financial statements for discussion of purchases of common stock . liquidity and capital resources our main sources of liquidity are cash and cash equivalents , internally generated cash flow from operations , continued access to capital markets , our committed revolving credit facility and sales of non-strategic assets . our working capital requirements are supported by these sources and we may issue commercial paper backed by our $ 2.5 billion revolving credit facility to meet short-term cash requirements . because of the alternatives available to us as discussed above and access to capital markets through the shelf registration discussed below , we believe that our short-term and long-term liquidity is adequate to fund not only our current operations , but also our near-term and long-term funding requirements including our capital spending programs , dividend payments , defined benefit plan contributions , repayment of debt maturities and other amounts that may ultimately be paid in connection with contingencies . at december 31 , 2014 , we had approximately $ 4.9 billion of liquidity consisting of $ 2.4 billion in cash and cash equivalents and $ 2.5 billion availability under our revolving credit facility . as discussed in more detail below in 201coutlook 201d , we are targeting a $ 3.5 billion budget for 2015 . based on our projected 2015 cash outlays for our capital program and dividends , we expect to outspend our cash flows from operations for the year . we will be constantly monitoring our available liquidity during 2015 and we have the flexibility to adjust our budget throughout the year in response to the commodity price environment . we will also continue to drive the fundamentals of expense management , including organizational capacity and operational reliability . capital resources credit arrangements and borrowings in may 2014 , we amended our $ 2.5 billion unsecured revolving credit facility and extended the maturity to may 2019 . see note 16 to the consolidated financial statements for additional terms and rates . at december 31 , 2014 , we had no borrowings against our revolving credit facility and no amounts outstanding under our u.s . commercial paper program that is backed by the revolving credit facility . at december 31 , 2014 , we had $ 6391 million in long-term debt outstanding , and $ 1068 million is due within one year , of which the majority is due in the fourth quarter of 2015 . we do not have any triggers on any of our corporate debt that would cause an event of default in the case of a downgrade of our credit ratings . shelf registration we have a universal shelf registration statement filed with the sec , under which we , as "well-known seasoned issuer" for purposes of sec rules , have the ability to issue and sell an indeterminate amount of various types of debt and equity securities from time to time. .
Question: by how much did total capital expenditures increase 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: |
8.57627 | Context:the facility is considered 201cdebt 201d for purposes of a support agreement between american water and awcc , which serves as a functional equivalent of a guarantee by american water of awcc 2019s payment obligations under the credit facility . also , the company acquired an additional revolving line of credit as part of its keystone acquisition . the total commitment under this credit facility was $ 16 million of which $ 2 million was outstanding as of december 31 , 2015 . the following table summarizes information regarding the company 2019s aggregate credit facility commitments , letter of credit sub-limits and available funds under those revolving credit facilities , as well as outstanding amounts of commercial paper and outstanding borrowings under the respective facilities as of december 31 , 2015 and 2014 : credit facility commitment available credit facility capacity letter of credit sublimit available letter of credit capacity outstanding commercial ( net of discount ) credit line borrowing ( in millions ) december 31 , 2015 . . . . . $ 1266 $ 1182 $ 150 $ 68 $ 626 $ 2 december 31 , 2014 . . . . . $ 1250 $ 1212 $ 150 $ 112 $ 450 $ 2014 the weighted-average interest rate on awcc short-term borrowings for the years ended december 31 , 2015 and 2014 was approximately 0.49% ( 0.49 % ) and 0.31% ( 0.31 % ) , respectively . interest accrues on the keystone revolving line of credit daily at a rate per annum equal to 2.75% ( 2.75 % ) above the greater of the one month or one day libor . capital structure the following table indicates the percentage of our capitalization represented by the components of our capital structure as of december 31: .
||2015|2014|2013|
|total common stockholders' equity|43.5% ( 43.5 % )|45.2% ( 45.2 % )|44.6% ( 44.6 % )|
|long-term debt and redeemable preferred stock at redemption value|50.6% ( 50.6 % )|50.1% ( 50.1 % )|49.3% ( 49.3 % )|
|short-term debt and current portion of long-term debt|5.9% ( 5.9 % )|4.7% ( 4.7 % )|6.1% ( 6.1 % )|
|total|100% ( 100 % )|100% ( 100 % )|100% ( 100 % )|
the changes in the capital structure between periods were mainly attributable to changes in outstanding commercial paper balances . debt covenants our debt agreements contain financial and non-financial covenants . to the extent that we are not in compliance with these covenants such an event may create an event of default under the debt agreement and we or our subsidiaries may be restricted in our ability to pay dividends , issue new debt or access our revolving credit facility . for two of our smaller operating companies , we have informed our counterparties that we will provide only unaudited financial information at the subsidiary level , which resulted in technical non-compliance with certain of their reporting requirements under debt agreements with respect to $ 8 million of outstanding debt . we do not believe this event will materially impact us . our long-term debt indentures contain a number of covenants that , among other things , limit the company from issuing debt secured by the company 2019s assets , subject to certain exceptions . our failure to comply with any of these covenants could accelerate repayment obligations . certain long-term notes and the revolving credit facility require us to maintain a ratio of consolidated debt to consolidated capitalization ( as defined in the relevant documents ) of not more than 0.70 to 1.00 . on december 31 , 2015 , our ratio was 0.56 to 1.00 and therefore we were in compliance with the covenant. .
Question: what was the debt to equity ratio 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: |
0.64251 | Context:international networks international networks generated revenues of $ 3.0 billion and adjusted oibda of $ 848 million during 2016 , which represented 47% ( 47 % ) and 35% ( 35 % ) of our total consolidated revenues and adjusted oibda , respectively . our international networks segment principally consists of national and pan-regional television networks and brands that are delivered across multiple distribution platforms . this segment generates revenue from operations in virtually every pay-tv market in the world through an infrastructure that includes operational centers in london , warsaw , milan , singapore and miami . global brands include discovery channel , animal planet , tlc , id , science channel and turbo ( known as velocity in the u.s. ) , along with brands exclusive to international networks , including eurosport , real time , dmax and discovery kids . as of december 31 , 2016 , international networks operated over 400 unique distribution feeds in over 40 languages with channel feeds customized according to language needs and advertising sales opportunities . international networks also has fta and broadcast networks in europe and the middle east and broadcast networks in germany , norway and sweden , and continues to pursue further international expansion . fta networks generate a significant portion of international networks' revenue . the penetration and growth rates of television services vary across countries and territories depending on numerous factors including the dominance of different television platforms in local markets . while pay-tv services have greater penetration in certain markets , fta or broadcast television is dominant in others . international networks has a large international distribution platform for its 37 networks , with as many as 13 networks distributed in any particular country or territory across the more than 220 countries and territories around the world . international networks pursues distribution across all television platforms based on the specific dynamics of local markets and relevant commercial agreements . in addition to the global networks described in the overview section above , we operate networks internationally that utilize the following brands : 2022 eurosport is the leading sports entertainment provider across europe with the following tv brands : eurosport , eurosport 2 and eurosportnews , reaching viewers across europe and asia , as well as eurosport digital , which includes eurosport player and eurosport.com . 2022 viewing subscribers reached by each brand as of december 31 , 2016 were as follows : eurosport : 133 million ; eurosport 2 : 65 million ; and eurosportnews : 9 million . 2022 eurosport telecasts live sporting events with both local and pan-regional appeal and its events focus on winter sports , cycling and tennis , including the tour de france and it is the home of grand slam tennis with all four tournaments . important local sports rights include bundesliga and motogp . in addition , eurosport has increasingly invested in more exclusive and localized rights to drive local audience and commercial relevance . 2022 we have acquired the exclusive broadcast rights across all media platforms throughout europe for the four olympic games between 2018 and 2024 for 20ac1.3 billion ( $ 1.5 billion as of december 31 , 2016 ) . the broadcast rights exclude france for the olympic games in 2018 and 2020 , and exclude russia . in addition to fta broadcasts for the olympic games , many of these events are set to air on eurosport's pay-tv and digital platforms . 2022 on november 2 , 2016 , we announced a long-term agreement and joint venture partnership with bamtech ( "mlbam" ) a technology services and video streaming company , and subsidiary of major league baseball's digital business , that includes the formation of bamtech europe , a joint venture that will provide digital technology services to a broad set of both sports and entertainment clients across europe . 2022 as of december 31 , 2016 , dmax reached approximately 103 million viewers through fta networks , according to internal estimates . 2022 dmax is a men 2019s factual entertainment channel in asia and europe . 2022 discovery kids reached approximately 121 million viewers , according to internal estimates , as of december 31 , 2016 . 2022 discovery kids is a leading children's network in latin america and asia . our international networks segment also owns and operates the following regional television networks , which reached the following number of subscribers and viewers via pay and fta or broadcast networks , respectively , as of december 31 , 2016 : television service international subscribers/viewers ( millions ) .
||television service|internationalsubscribers/viewers ( millions )|
|quest|fta|77|
|nordic broadcast networks ( a )|broadcast|35|
|giallo|fta|25|
|frisbee|fta|25|
|focus|fta|25|
|k2|fta|25|
|deejay tv|fta|25|
|discovery hd world|pay|24|
|shed|pay|12|
|discovery history|pay|10|
|discovery world|pay|6|
|discovery en espanol ( u.s. )|pay|6|
|discovery familia ( u.s. )|pay|6|
( a ) number of subscribers corresponds to the sum of the subscribers to each of the nordic broadcast networks in sweden , norway , finland and denmark subject to retransmission agreements with pay-tv providers . the nordic broadcast networks include kanal 5 , kanal 9 , and kanal 11 in sweden , tv norge , max , fem and vox in norway , tv 5 , kutonen , and frii in finland , and kanal 4 , kanal 5 , 6'eren , and canal 9 in denmark . similar to u.s . networks , a significant source of revenue for international networks relates to fees charged to operators who distribute our linear networks . such operators primarily include cable and dth satellite service providers . 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 distributor agreements , and the market demand for the content that we provide . the other significant source of revenue for international networks relates to advertising sold on our television networks and across distribution platforms , similar to u.s . networks . advertising revenue is dependent upon a number of factors , including the development of pay and fta 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 portfolio of channels on multiple platforms . 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 , advertising revenue growth results from continued subscriber growth , our localization strategy , and the shift of advertising spending from traditional broadcast networks to channels .
Question: what percentage of eurosport viewing subscribers reached were due to eurosport 2 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: |
0.18 | Context:2012 ppg annual report and form 10-k 45 costs related to these notes , which totaled $ 17 million , will be amortized to interest expense over the respective terms of the notes . in august 2010 , ppg entered into a three-year credit agreement with several banks and financial institutions ( the "2010 credit agreement" ) which was subsequently terminated in july 2012 . the 2010 credit agreement provided for a $ 1.2 billion unsecured revolving credit facility . in connection with entering into the 2010 credit agreement , the company terminated its 20ac650 million and its $ 1 billion revolving credit facilities that were each set to expire in 2011 . there were no outstanding amounts due under either revolving facility at the times of their termination . the 2010 credit agreement was set to terminate on august 5 , 2013 . ppg 2019s non-u.s . operations have uncommitted lines of credit totaling $ 705 million of which $ 34 million was used as of december 31 , 2012 . these uncommitted lines of credit are subject to cancellation at any time and are generally not subject to any commitment fees . short-term debt outstanding as of december 31 , 2012 and 2011 , was as follows: .
|( millions )|2012|2011|
|other weighted average 2.27% ( 2.27 % ) as of dec . 31 2012 and 3.72% ( 3.72 % ) as of december 31 2011|$ 39|$ 33|
|total|$ 39|$ 33|
ppg is in compliance with the restrictive covenants under its various credit agreements , loan agreements and indentures . the company 2019s revolving credit agreements include a financial ratio covenant . the covenant requires that the amount of total indebtedness not exceed 60% ( 60 % ) of the company 2019s total capitalization excluding the portion of accumulated other comprehensive income ( loss ) related to pensions and other postretirement benefit adjustments . as of december 31 , 2012 , total indebtedness was 42% ( 42 % ) of the company 2019s total capitalization excluding the portion of accumulated other comprehensive income ( loss ) related to pensions and other postretirement benefit adjustments . additionally , substantially all of the company 2019s debt agreements contain customary cross- default provisions . those provisions generally provide that a default on a debt service payment of $ 10 million or more for longer than the grace period provided ( usually 10 days ) under one agreement may result in an event of default under other agreements . none of the company 2019s primary debt obligations are secured or guaranteed by the company 2019s affiliates . interest payments in 2012 , 2011 and 2010 totaled $ 219 million , $ 212 million and $ 189 million , respectively . in october 2009 , the company entered into an agreement with a counterparty to repurchase up to 1.2 million shares of the company 2019s stock of which 1.1 million shares were purchased in the open market ( 465006 of these shares were purchased as of december 31 , 2009 at a weighted average price of $ 56.66 per share ) . the counterparty held the shares until september of 2010 when the company paid $ 65 million and took possession of these shares . rental expense for operating leases was $ 233 million , $ 249 million and $ 233 million in 2012 , 2011 and 2010 , respectively . the primary leased assets include paint stores , transportation equipment , warehouses and other distribution facilities , and office space , including the company 2019s corporate headquarters located in pittsburgh , pa . minimum lease commitments for operating leases that have initial or remaining lease terms in excess of one year as of december 31 , 2012 , are ( in millions ) $ 171 in 2013 , $ 135 in 2014 , $ 107 in 2015 , $ 83 in 2016 , $ 64 in 2017 and $ 135 thereafter . the company had outstanding letters of credit and surety bonds of $ 119 million as of december 31 , 2012 . the letters of credit secure the company 2019s performance to third parties under certain self-insurance programs and other commitments made in the ordinary course of business . as of december 31 , 2012 and 2011 , guarantees outstanding were $ 96 million and $ 90 million , respectively . the guarantees relate primarily to debt of certain entities in which ppg has an ownership interest and selected customers of certain of the company 2019s businesses . a portion of such debt is secured by the assets of the related entities . the carrying values of these guarantees were $ 11 million and $ 13 million as of december 31 , 2012 and 2011 , respectively , and the fair values were $ 11 million and $ 21 million , as of december 31 , 2012 and 2011 , respectively . the fair value of each guarantee was estimated by comparing the net present value of two hypothetical cash flow streams , one based on ppg 2019s incremental borrowing rate and the other based on the borrower 2019s incremental borrowing rate , as of the effective date of the guarantee . both streams were discounted at a risk free rate of return . the company does not believe any loss related to these letters of credit , surety bonds or guarantees is likely . 9 . fair value measurement the accounting guidance on fair value measurements establishes a hierarchy with three levels of inputs used to determine fair value . level 1 inputs are quoted prices ( unadjusted ) in active markets for identical assets and liabilities , are considered to be the most reliable evidence of fair value , and should be used whenever available . level 2 inputs are observable prices that are not quoted on active exchanges . level 3 inputs are unobservable inputs employed for measuring the fair value of assets or liabilities . table of contents notes to the consolidated financial statements .
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56.01 | Context:management 2019s discussion and analysis we believe our credit ratings are primarily based on the credit rating agencies 2019 assessment of : 2030 our liquidity , market , credit and operational risk management practices ; 2030 the level and variability of our earnings ; 2030 our capital base ; 2030 our franchise , reputation and management ; 2030 our corporate governance ; and 2030 the external operating environment , including the assumed level of government support . certain of the firm 2019s derivatives have been transacted under bilateral agreements with counterparties who may require us to post collateral or terminate the transactions based on changes in our credit ratings . we assess the impact of these bilateral agreements by determining the collateral or termination payments that would occur assuming a downgrade by all rating agencies . a downgrade by any one rating agency , depending on the agency 2019s relative ratings of the firm at the time of the downgrade , may have an impact which is comparable to the impact of a downgrade by all rating agencies . we allocate a portion of our gce to ensure we would be able to make the additional collateral or termination payments that may be required in the event of a two-notch reduction in our long-term credit ratings , as well as collateral that has not been called by counterparties , but is available to them . the table below presents the additional collateral or termination payments that could have been called at the reporting date by counterparties in the event of a one-notch and two-notch downgrade in our credit ratings. .
|in millions|as of december 2012|as of december 2011|
|additional collateral or termination payments for a one-notch downgrade|$ 1534|$ 1303|
|additional collateral or termination payments for a two-notch downgrade|2500|2183|
in millions 2012 2011 additional collateral or termination payments for a one-notch downgrade $ 1534 $ 1303 additional collateral or termination payments for a two-notch downgrade 2500 2183 cash flows as a global financial institution , our cash flows are complex and bear little relation to our net earnings and net assets . consequently , we believe that traditional cash flow analysis is less meaningful in evaluating our liquidity position than the excess liquidity and asset-liability management policies described above . cash flow analysis may , however , be helpful in highlighting certain macro trends and strategic initiatives in our businesses . year ended december 2012 . our cash and cash equivalents increased by $ 16.66 billion to $ 72.67 billion at the end of 2012 . we generated $ 9.14 billion in net cash from operating and investing activities . we generated $ 7.52 billion in net cash from financing activities from an increase in bank deposits , partially offset by net repayments of unsecured and secured long-term borrowings . year ended december 2011 . our cash and cash equivalents increased by $ 16.22 billion to $ 56.01 billion at the end of 2011 . we generated $ 23.13 billion in net cash from operating and investing activities . we used net cash of $ 6.91 billion for financing activities , primarily for repurchases of our series g preferred stock and common stock , partially offset by an increase in bank deposits . year ended december 2010 . our cash and cash equivalents increased by $ 1.50 billion to $ 39.79 billion at the end of 2010 . we generated $ 7.84 billion in net cash from financing activities primarily from net proceeds from issuances of short-term secured financings . we used net cash of $ 6.34 billion for operating and investing activities , primarily to fund an increase in securities purchased under agreements to resell and an increase in cash and securities segregated for regulatory and other purposes , partially offset by cash generated from a decrease in securities borrowed . goldman sachs 2012 annual report 87 .
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-0.07 | Context:shareholder return performance presentation the graph presented below compares the cumulative total shareholder return on state street's common stock to the cumulative total return of the s&p 500 index , the s&p financial index and the kbw bank index over a five- year period . the cumulative total shareholder return assumes the investment of $ 100 in state street common stock and in each index on december 31 , 2008 at the closing price on the last trading day of 2008 , and also assumes reinvestment of common stock dividends . the s&p financial index is a publicly available measure of 81 of the standard & poor's 500 companies , representing 17 diversified financial services companies , 22 insurance companies , 19 real estate companies and 23 banking companies . the kbw bank index seeks to reflect the performance of banks and thrifts that are publicly traded in the u.s. , and is composed of 24 leading national money center and regional banks and thrifts. .
||2008|2009|2010|2011|2012|2013|
|state street corporation|$ 100|$ 111|$ 118|$ 105|$ 125|$ 198|
|s&p 500 index|100|126|146|149|172|228|
|s&p financial index|100|117|132|109|141|191|
|kbw bank index|100|98|121|93|122|168|
.
Question: what is the roi of an investment in kbw bank index from 2008 to 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: |
5.0 | Context:recourse and repurchase obligations as discussed in note 3 loans sale and servicing activities and variable interest entities , pnc has sold commercial mortgage and residential mortgage loans directly or indirectly in securitizations and whole-loan sale transactions with continuing involvement . one form of continuing involvement includes certain recourse and loan repurchase obligations associated with the transferred assets in these transactions . commercial mortgage loan recourse obligations we originate , close and service certain multi-family commercial mortgage loans which are sold to fnma under fnma 2019s dus program . we participated in a similar program with the fhlmc . under these programs , we generally assume up to a one-third pari passu risk of loss on unpaid principal balances through a loss share arrangement . at december 31 , 2011 and december 31 , 2010 , the unpaid principal balance outstanding of loans sold as a participant in these programs was $ 13.0 billion and $ 13.2 billion , respectively . the potential maximum exposure under the loss share arrangements was $ 4.0 billion at both december 31 , 2011 and december 31 , 2010 . we maintain a reserve for estimated losses based upon our exposure . the reserve for losses under these programs totaled $ 47 million and $ 54 million as of december 31 , 2011 and december 31 , 2010 , respectively , and is included in other liabilities on our consolidated balance sheet . if payment is required under these programs , we would not have a contractual interest in the collateral underlying the mortgage loans on which losses occurred , although the value of the collateral is taken into account in determining our share of such losses . our exposure and activity associated with these recourse obligations are reported in the corporate & institutional banking segment . analysis of commercial mortgage recourse obligations .
|in millions|2011|2010|
|january 1|$ 54|$ 71|
|reserve adjustments net|1|9|
|losses 2013 loan repurchases and settlements|-8 ( 8 )|-2 ( 2 )|
|loan sales||-24 ( 24 )|
|december 31|$ 47|$ 54|
residential mortgage loan and home equity repurchase obligations while residential mortgage loans are sold on a non-recourse basis , we assume certain loan repurchase obligations associated with mortgage loans we have sold to investors . these loan repurchase obligations primarily relate to situations where pnc is alleged to have breached certain origination covenants and representations and warranties made to purchasers of the loans in the respective purchase and sale agreements . residential mortgage loans covered by these loan repurchase obligations include first and second-lien mortgage loans we have sold through agency securitizations , non-agency securitizations , and whole-loan sale transactions . as discussed in note 3 in this report , agency securitizations consist of mortgage loans sale transactions with fnma , fhlmc , and gnma , while non-agency securitizations and whole-loan sale transactions consist of mortgage loans sale transactions with private investors . our historical exposure and activity associated with agency securitization repurchase obligations has primarily been related to transactions with fnma and fhlmc , as indemnification and repurchase losses associated with fha and va-insured and uninsured loans pooled in gnma securitizations historically have been minimal . repurchase obligation activity associated with residential mortgages is reported in the residential mortgage banking segment . pnc 2019s repurchase obligations also include certain brokered home equity loans/lines that were sold to a limited number of private investors in the financial services industry by national city prior to our acquisition . pnc is no longer engaged in the brokered home equity lending business , and our exposure under these loan repurchase obligations is limited to repurchases of whole-loans sold in these transactions . repurchase activity associated with brokered home equity loans/lines is reported in the non-strategic assets portfolio segment . loan covenants and representations and warranties are established through loan sale agreements with various investors to provide assurance that pnc has sold loans to investors of sufficient investment quality . key aspects of such covenants and representations and warranties include the loan 2019s compliance with any applicable loan criteria established by the investor , including underwriting standards , delivery of all required loan documents to the investor or its designated party , sufficient collateral valuation , and the validity of the lien securing the loan . as a result of alleged breaches of these contractual obligations , investors may request pnc to indemnify them against losses on certain loans or to repurchase loans . these investor indemnification or repurchase claims are typically settled on an individual loan basis through make- whole payments or loan repurchases ; however , on occasion we may negotiate pooled settlements with investors . indemnifications for loss or loan repurchases typically occur when , after review of the claim , we agree insufficient evidence exists to dispute the investor 2019s claim that a breach of a loan covenant and representation and warranty has occurred , such breach has not been cured , and the effect of such breach is deemed to have had a material and adverse effect on the value of the transferred loan . depending on the sale agreement and upon proper notice from the investor , we typically respond to such indemnification and repurchase requests within 60 days , although final resolution of the claim may take a longer period of time . with the exception of the sales the pnc financial services group , inc . 2013 form 10-k 199 .
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0.25968 | Context:entergy new orleans , inc . management's financial discussion and analysis ( 1 ) includes approximately $ 30 million annually for maintenance capital , which is planned spending on routine capital projects that are necessary to support reliability of service , equipment or systems and to support normal customer growth . ( 2 ) purchase obligations represent the minimum purchase obligation or cancellation charge for contractual obligations to purchase goods or services . for entergy new orleans , almost all of the total consists of unconditional fuel and purchased power obligations , including its obligations under the unit power sales agreement , which is discussed in note 8 to the financial statements . in addition to the contractual obligations given above , entergy new orleans expects to make payments of approximately $ 113 million for the years 2009-2011 related to hurricane katrina and hurricane gustav restoration work and its gas rebuild project , of which $ 32 million is expected to be incurred in 2009 . also , entergy new orleans expects to contribute $ 1.7 million to its pension plan and $ 5.9 million to its other postretirement plans in 2009 . guidance pursuant to the pension protection act of 2006 rules , effective for the 2008 plan year and beyond , may affect the level of entergy new orleans' pension contributions in the future . also in addition to the contractual obligations , entergy new orleans has $ 26.1 million of unrecognized tax benefits and interest for which the timing of payments beyond 12 months cannot be reasonably estimated due to uncertainties in the timing of effective settlement of tax positions . see note 3 to the financial statements for additional information regarding unrecognized tax benefits . the planned capital investment estimate for entergy new orleans reflects capital required to support existing business . the estimated capital expenditures are subject to periodic review and modification and may vary based on the ongoing effects of regulatory constraints , environmental compliance , market volatility , economic trends , and the ability to access capital . management provides more information on long-term debt and preferred stock maturities in notes 5 and 6 and to the financial statements . sources of capital entergy new orleans' sources to meet its capital requirements include : internally generated funds ; cash on hand ; and debt and preferred stock issuances . entergy new orleans' receivables from or ( payables to ) the money pool were as follows as of december 31 for each of the following years: .
|2008|2007|2006|2005|
|( in thousands )|( in thousands )|( in thousands )|( in thousands )|
|$ 60093|$ 47705|( $ 37166 )|( $ 37166 )|
see note 4 to the financial statements for a description of the money pool . as discussed above in "bankruptcy proceedings" , entergy new orleans issued notes due in three years in satisfaction of its affiliate prepetition accounts payable , including its indebtedness to the entergy system money pool of $ 37.2 million . entergy new orleans has obtained short-term borrowing authorization from the ferc under which it may borrow through march 2010 , up to the aggregate amount , at any one time outstanding , of $ 100 million . see note 4 to the financial statements for further discussion of entergy new orleans' 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 august 2010. .
Question: what is the percent change in net receivables from the money pool between 2007 and 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: |
-0.206 | Context:the company 2019s stock performance the following graph compares cumulative total return of the company 2019s common stock with the cumulative total return of ( i ) the nasdaq stock market-united states , and ( ii ) the nasdaq biotechnology index . the graph assumes ( a ) $ 100 was invested on july 31 , 2001 in each of the company 2019s common stock , the stocks comprising the nasdaq stock market-united states and the stocks comprising the nasdaq biotechnology index , and ( b ) the reinvestment of dividends . comparison of 65 month cumulative total return* among alexion pharmaceuticals , inc. , the nasdaq composite index and the nasdaq biotechnology index alexion pharmaceuticals , inc . nasdaq composite nasdaq biotechnology .
||7/02|7/03|7/04|7/05|12/05|12/06|12/07|
|alexion pharmaceuticals inc .|100.00|108.38|102.64|167.89|130.56|260.41|483.75|
|nasdaq composite|100.00|128.98|142.51|164.85|168.24|187.43|204.78|
|nasdaq biotechnology|100.00|149.29|146.51|176.75|186.10|183.89|187.04|
.
Question: what is the difference between the percent change between 7/02 and 7/03 of the investments into axion and the nasdaq composite? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.22 | Context:competitive supply aes 2019s competitive supply line of business consists of generating facilities that sell electricity directly to wholesale customers in competitive markets . additionally , as compared to the contract generation segment discussed above , these generating facilities generally sell less than 75% ( 75 % ) of their output pursuant to long-term contracts with pre-determined pricing provisions and/or sell into power pools , under shorter-term contracts or into daily spot markets . the prices paid for electricity under short-term contracts and in the spot markets are unpredictable and can be , and from time to time have been , volatile . the results of operations of aes 2019s competitive supply business are also more sensitive to the impact of market fluctuations in the price of electricity , natural gas , coal and other raw materials . in the united kingdom , txu europe entered administration in november 2002 and is no longer performing under its contracts with drax and barry . as described in the footnotes and in other sections of the discussion and analysis of financial condition and results of operations , txu europe 2019s failure to perform under its contracts has had a material adverse effect on the results of operations of these businesses . two aes competitive supply businesses , aes wolf hollow , l.p . and granite ridge have fuel supply agreements with el paso merchant energy l.p . an affiliate of el paso corp. , which has encountered financial difficulties . the company does not believe the financial difficulties of el paso corp . will have a material adverse effect on el paso merchant energy l.p . 2019s performance under the supply agreement ; however , there can be no assurance that a further deterioration in el paso corp 2019s financial condition will not have a material adverse effect on the ability of el paso merchant energy l.p . to perform its obligations . while el paso corp 2019s financial condition may not have a material adverse effect on el paso merchant energy , l.p . at this time , it could lead to a default under the aes wolf hollow , l.p . 2019s fuel supply agreement , in which case aes wolf hollow , l.p . 2019s lenders may seek to declare a default under its credit agreements . aes wolf hollow , l.p . is working in concert with its lenders to explore options to avoid such a default . the revenues from our facilities that distribute electricity to end-use customers are generally subject to regulation . these businesses are generally required to obtain third party approval or confirmation of rate increases before they can be passed on to the customers through tariffs . these businesses comprise the large utilities and growth distribution segments of the company . revenues from contract generation and competitive supply are not regulated . the distribution of revenues between the segments for the years ended december 31 , 2002 , 2001 and 2000 is as follows: .
||2002|2001|2000|
|large utilities|36% ( 36 % )|21% ( 21 % )|22% ( 22 % )|
|growth distribution|14% ( 14 % )|21% ( 21 % )|21% ( 21 % )|
|contract generation|29% ( 29 % )|32% ( 32 % )|27% ( 27 % )|
|competitive supply|21% ( 21 % )|26% ( 26 % )|30% ( 30 % )|
development costs certain subsidiaries and affiliates of the company ( domestic and non-u.s. ) are in various stages of developing and constructing greenfield power plants , some but not all of which have signed long-term contracts or made similar arrangements for the sale of electricity . successful completion depends upon overcoming substantial risks , including , but not limited to , risks relating to failures of siting , financing , construction , permitting , governmental approvals or the potential for termination of the power sales contract as a result of a failure to meet certain milestones . as of december 31 , 2002 , capitalized costs for projects under development and in early stage construction were approximately $ 15 million and capitalized costs for projects under construction were approximately $ 3.2 billion . the company believes .
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0.9439 | Context:12 . borrowings short-term borrowings 2015 revolving credit facility . in march 2011 , the company entered into a five-year $ 3.5 billion unsecured revolving credit facility , which was amended in 2014 , 2013 and 2012 . in april 2015 , the company 2019s credit facility was further amended to extend the maturity date to march 2020 and to increase the amount of the aggregate commitment to $ 4.0 billion ( the 201c2015 credit facility 201d ) . the 2015 credit facility permits the company to request up to an additional $ 1.0 billion of borrowing capacity , subject to lender credit approval , increasing the overall size of the 2015 credit facility to an aggregate principal amount not to exceed $ 5.0 billion . interest on borrowings outstanding accrues at a rate based on the applicable london interbank offered rate plus a spread . the 2015 credit facility requires the company not to exceed a maximum leverage ratio ( ratio of net debt to earnings before interest , taxes , depreciation and amortization , where net debt equals total debt less unrestricted cash ) of 3 to 1 , which was satisfied with a ratio of less than 1 to 1 at december 31 , 2015 . the 2015 credit facility provides back-up liquidity to fund ongoing working capital for general corporate purposes and various investment opportunities . at december 31 , 2015 , the company had no amount outstanding under the 2015 credit facility . commercial paper program . on october 14 , 2009 , blackrock established a commercial paper program ( the 201ccp program 201d ) under which the company could issue unsecured commercial paper notes ( the 201ccp notes 201d ) on a private placement basis up to a maximum aggregate amount outstanding at any time of $ 4.0 billion as amended in april 2015 . the cp program is currently supported by the 2015 credit facility . at december 31 , 2015 , blackrock had no cp notes outstanding . long-term borrowings the carrying value and fair value of long-term borrowings estimated using market prices and foreign exchange rates at december 31 , 2015 included the following : ( in millions ) maturity amount unamortized discount and debt issuance costs carrying value fair value .
|( in millions )|maturityamount|unamortized discount and debt issuance costs|carrying value|fair value|
|6.25% ( 6.25 % ) notes due 2017|$ 700|$ -1 ( 1 )|$ 699|$ 757|
|5.00% ( 5.00 % ) notes due 2019|1000|-3 ( 3 )|997|1106|
|4.25% ( 4.25 % ) notes due 2021|750|-5 ( 5 )|745|828|
|3.375% ( 3.375 % ) notes due 2022|750|-6 ( 6 )|744|773|
|3.50% ( 3.50 % ) notes due 2024|1000|-8 ( 8 )|992|1030|
|1.25% ( 1.25 % ) notes due 2025|760|-7 ( 7 )|753|729|
|total long-term borrowings|$ 4960|$ -30 ( 30 )|$ 4930|$ 5223|
long-term borrowings at december 31 , 2014 had a carrying value of $ 4.922 billion and a fair value of $ 5.309 billion determined using market prices at the end of december 2025 notes . in may 2015 , the company issued 20ac700 million of 1.25% ( 1.25 % ) senior unsecured notes maturing on may 6 , 2025 ( the 201c2025 notes 201d ) . the notes are listed on the new york stock exchange . the net proceeds of the 2025 notes were used for general corporate purposes , including refinancing of outstanding indebtedness . interest of approximately $ 10 million per year based on current exchange rates is payable annually on may 6 of each year . the 2025 notes may be redeemed in whole or in part prior to maturity at any time at the option of the company at a 201cmake-whole 201d redemption price . the unamortized discount and debt issuance costs are being amortized over the remaining term of the 2025 notes . upon conversion to u.s . dollars the company designated the 20ac700 million debt offering as a net investment hedge to offset its currency exposure relating to its net investment in certain euro functional currency operations . a gain of $ 19 million , net of tax , was recognized in other comprehensive income for 2015 . no hedge ineffectiveness was recognized during 2015 . 2024 notes . in march 2014 , the company issued $ 1.0 billion in aggregate principal amount of 3.50% ( 3.50 % ) senior unsecured and unsubordinated notes maturing on march 18 , 2024 ( the 201c2024 notes 201d ) . the net proceeds of the 2024 notes were used to refinance certain indebtedness which matured in the fourth quarter of 2014 . interest is payable semi-annually in arrears on march 18 and september 18 of each year , or approximately $ 35 million per year . the 2024 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price . the unamortized discount and debt issuance costs are being amortized over the remaining term of the 2024 notes . 2022 notes . in may 2012 , the company issued $ 1.5 billion in aggregate principal amount of unsecured unsubordinated obligations . these notes were issued as two separate series of senior debt securities , including $ 750 million of 1.375% ( 1.375 % ) notes , which were repaid in june 2015 at maturity , and $ 750 million of 3.375% ( 3.375 % ) notes maturing in june 2022 ( the 201c2022 notes 201d ) . net proceeds were used to fund the repurchase of blackrock 2019s common stock and series b preferred from barclays and affiliates and for general corporate purposes . interest on the 2022 notes of approximately $ 25 million per year , respectively , is payable semi-annually on june 1 and december 1 of each year , which commenced december 1 , 2012 . the 2022 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price . the 201cmake-whole 201d redemption price represents a price , subject to the specific terms of the 2022 notes and related indenture , that is the greater of ( a ) par value and ( b ) the present value of future payments that will not be paid because of an early redemption , which is discounted at a fixed spread over a .
Question: what percent of the fair value is in the carrying value? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.87348 | Context:page 62 of 94 notes to consolidated financial statements ball corporation and subsidiaries 14 . taxes on income ( continued ) at december 31 , 2007 , ball corporation and its domestic subsidiaries had net operating loss carryforwards , expiring between 2020 and 2026 , of $ 64.6 million with a related tax benefit of $ 25.2 million . also at december 31 , 2007 , ball packaging europe and its subsidiaries had net operating loss carryforwards , with no expiration date , of $ 54.4 million with a related tax benefit of $ 14.6 million . ball packaging products canada corp . had a net operating loss carryforward , with no expiration date , of $ 15.8 million with a related tax benefit of $ 5.4 million . due to the uncertainty of ultimate realization , these european and canadian benefits have been offset by valuation allowances of $ 8.6 million and $ 5.4 million , respectively . upon realization , $ 5.3 million of the european valuation allowance will be recognized as a reduction in goodwill . at december 31 , 2007 , the company has foreign tax credit carryforwards of $ 5.8 million ; however , due to the uncertainty of realization of the entire credit , a valuation allowance of $ 3.8 million has been applied to reduce the carrying value to $ 2 million . effective january 1 , 2007 , ball adopted fin no . 48 , 201caccounting for uncertainty in income taxes . 201d as of the date of adoption , the accrual for uncertain tax position was $ 45.8 million , and the cumulative effect of the adoption was an increase in the reserve for uncertain tax positions of $ 2.1 million . the accrual includes an $ 11.4 million reduction in opening retained earnings and a $ 9.3 million reduction in goodwill . a reconciliation of the unrecognized tax benefits follows : ( $ in millions ) as adjusted for accounting change .
|( $ in millions )|as adjusted for accounting change|
|balance at january 1 2007|$ 45.8|
|additions based on tax positions related to the current year|3.9|
|additions for tax positions of prior years|7.6|
|reductions for settlements|-18.4 ( 18.4 )|
|effect of foreign currency exchange rates|2.2|
|balance at december 31 2007|$ 41.1|
|balance sheet classification:||
|income taxes payable|$ 4.2|
|deferred taxes and other liabilities|36.9|
|total|$ 41.1|
the amount of unrecognized tax benefits at december 31 , 2007 , that , if recognized , would reduce tax expense is $ 35.9 million . at this time there are no positions where the unrecognized tax benefit is expected to increase or decrease significantly within the next 12 months . u.s . federal and state income tax returns filed for the years 2000- 2006 are open for audit , with an effective settlement of the federal returns through 2004 . the income tax returns filed in europe for the years 2002 through 2006 are also open for audit . the company 2019s significant filings in europe are in germany , france , the netherlands , poland , serbia and the united kingdom . the company recognizes the accrual of interest and penalties related to unrecognized tax benefits in income tax expense . during the year ended december 31 , 2007 , ball recognized approximately $ 2.7 million of interest expense . the accrual for uncertain tax positions at december 31 , 2007 , includes approximately $ 5.1 million representing potential interest expense . no penalties have been accrued . the 2007 provision for income taxes included an $ 11.5 million accrual under fin no . 48 . the majority of this provision was related to the effective settlement during the third quarter of 2007 with the internal revenue service for interest deductions on incurred loans from a company-owned life insurance plan . the total accrual at december 31 , 2007 , for the effective settlement of the applicable prior years 2000-2004 under examination , and unaudited years 2005 through 2007 , was $ 18.4 million , including estimated interest . the settlement resulted in a majority of the interest deductions being sustained with prospective application that results in no significant impact to future earnings per share or cash flows. .
Question: what percentage of total unrecognized tax benefits as of december 31 , 2007 would affect taxes should it be recognized? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
7.0 | Context:notes to consolidated financial statements 2014 ( continued ) a reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows ( in thousands ) : .
|balance at september 29 2007|$ 7315|
|increases based on positions related to prior years|351|
|increases based on positions related to current year|813|
|decreases relating to lapses of applicable statutes of limitations|-605 ( 605 )|
|balance at october 3 2008|$ 7874|
the company 2019s major tax jurisdictions as of october 3 , 2008 for fin 48 are the u.s. , california , and iowa . for the u.s. , the company has open tax years dating back to fiscal year 1998 due to the carryforward of tax attributes . for california , the company has open tax years dating back to fiscal year 2002 due to the carryforward of tax attributes . for iowa , the company has open tax years dating back to fiscal year 2002 due to the carryforward of tax attributes . during the year ended october 3 , 2008 , the statute of limitations period expired relating to an unrecognized tax benefit . the expiration of the statute of limitations period resulted in the recognition of $ 0.6 million of previously unrecognized tax benefit , which impacted the effective tax rate , and $ 0.5 million of accrued interest related to this tax position was reversed during the year . including this reversal , total year-to-date accrued interest related to the company 2019s unrecognized tax benefits was a benefit of $ 0.4 million . 10 . stockholders 2019 equity common stock the company is authorized to issue ( 1 ) 525000000 shares of common stock , par value $ 0.25 per share , and ( 2 ) 25000000 shares of preferred stock , without par value . holders of the company 2019s common stock are entitled to such dividends as may be declared by the company 2019s board of directors out of funds legally available for such purpose . dividends may not be paid on common stock unless all accrued dividends on preferred stock , if any , have been paid or declared and set aside . in the event of the company 2019s liquidation , dissolution or winding up , the holders of common stock will be entitled to share pro rata in the assets remaining after payment to creditors and after payment of the liquidation preference plus any unpaid dividends to holders of any outstanding preferred stock . each holder of the company 2019s common stock is entitled to one vote for each such share outstanding in the holder 2019s name . no holder of common stock is entitled to cumulate votes in voting for directors . the company 2019s second amended and restated certificate of incorporation provides that , unless otherwise determined by the company 2019s board of directors , no holder of common stock has any preemptive right to purchase or subscribe for any stock of any class which the company may issue or sell . in march 2007 , the company repurchased approximately 4.3 million of its common shares for $ 30.1 million as authorized by the company 2019s board of directors . the company has no publicly disclosed stock repurchase plans . at october 3 , 2008 , the company had 170322804 shares of common stock issued and 165591830 shares outstanding . preferred stock the company 2019s second amended and restated certificate of incorporation permits the company to issue up to 25000000 shares of preferred stock in one or more series and with rights and preferences that may be fixed or designated by the company 2019s board of directors without any further action by the company 2019s stockholders . the designation , powers , preferences , rights and qualifications , limitations and restrictions of the preferred stock of each skyworks solutions , inc . 2008 annual report %%transmsg*** transmitting job : a51732 pcn : 099000000 ***%%pcmsg|103 |00005|yes|no|03/26/2009 13:34|0|0|page is valid , no graphics -- color : d| .
Question: in march 2007what was the share price in the company repurchased of 4.3 million of its common shares at $ 30.1 million as authorized by the company 2019s board of directors . | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.01966 | Context:entergy gulf states , inc . management's financial discussion and analysis .
||( in millions )|
|2003 net revenue|$ 1110.1|
|volume/weather|26.7|
|net wholesale revenue|13.0|
|summer capacity charges|5.5|
|price applied to unbilled sales|4.8|
|fuel recovery revenues|-14.2 ( 14.2 )|
|other|3.9|
|2004 net revenue|$ 1149.8|
the volume/weather variance resulted primarily from an increase of 1179 gwh in electricity usage in the industrial sector . billed usage also increased a total of 291 gwh in the residential , commercial , and governmental sectors . the increase in net wholesale revenue is primarily due to an increase in sales volume to municipal and co-op customers . summer capacity charges variance is due to the amortization in 2003 of deferred capacity charges for the summer of 2001 compared to the absence of the amortization in 2004 . the amortization of these capacity charges began in june 2002 and ended in may 2003 . the price applied to unbilled sales variance resulted primarily from an increase in the fuel price applied to unbilled sales . fuel recovery revenues represent an under-recovery of fuel charges that are recovered in base rates . entergy gulf states recorded $ 22.6 million of provisions in 2004 for potential rate refunds . these provisions are not included in the net revenue table above because they are more than offset by provisions recorded in 2003 . gross operating revenues , fuel and purchased power expenses , and other regulatory credits gross operating revenues increased primarily due to an increase of $ 187.8 million in fuel cost recovery revenues as a result of higher fuel rates in both the louisiana and texas jurisdictions . the increases in volume/weather and wholesale revenue , discussed above , also contributed to the increase . fuel and purchased power expenses increased primarily due to : 2022 increased recovery of deferred fuel costs due to higher fuel rates ; 2022 increases in the market prices of natural gas , coal , and purchased power ; and 2022 an increase in electricity usage , discussed above . other regulatory credits increased primarily due to the amortization in 2003 of deferred capacity charges for the summer of 2001 compared to the absence of amortization in 2004 . the amortization of these charges began in june 2002 and ended in may 2003 . 2003 compared to 2002 net revenue , which is entergy gulf states' measure of gross margin , consists of operating revenues net of : 1 ) fuel , fuel-related , and purchased power expenses and 2 ) other regulatory credits . following is an analysis of the change in net revenue comparing 2003 to 2002. .
Question: what are the provisions for potential rate refunds as a percentage of net revenue 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: |
43.23 | Context:stock performance graph the following line-graph presentation compares our cumulative shareholder returns with the standard & poor 2019s information technology index and the standard & poor 2019s 500 stock index for the past five years . the line graph assumes the investment of $ 100 in our common stock , the standard & poor 2019s information technology index , and the standard & poor 2019s 500 stock index on may 31 , 2003 and assumes reinvestment of all dividends . comparison of 5 year cumulative total return* among global payments inc. , the s&p 500 index and the s&p information technology index 5/03 5/04 5/05 5/06 5/07 5/08 global payments inc . s&p 500 s&p information technology * $ 100 invested on 5/31/03 in stock or index-including reinvestment of dividends . fiscal year ending may 31 . global payments s&p 500 information technology .
||global payments|s&p 500|s&p information technology|
|may 31 2003|$ 100.00|$ 100.00|$ 100.00|
|may 31 2004|137.75|118.33|121.98|
|may 31 2005|205.20|128.07|123.08|
|may 31 2006|276.37|139.14|123.99|
|may 31 2007|238.04|170.85|152.54|
|may 31 2008|281.27|159.41|156.43|
issuer purchases of equity securities in fiscal 2007 , our board of directors approved a share repurchase program that authorized the purchase of up to $ 100 million of global payments 2019 stock in the open market or as otherwise may be determined by us , subject to market conditions , business opportunities , and other factors . under this authorization , we have repurchased 2.3 million shares of our common stock . this authorization has no expiration date and may be suspended or terminated at any time . repurchased shares will be retired but will be available for future issuance. .
Question: in a slight recession of the overall market , what percentage did the stock price of global payments change? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
10.88702 | Context:notes to consolidated financial statements 2014 ( continued ) note 12 2014related party transactions in the course of settling money transfer transactions , we purchase foreign currency from consultoria internacional casa de cambio ( 201ccisa 201d ) , a mexican company partially owned by certain of our employees . as of march 31 , 2008 , mr . ra fal lim f3n cortes , a 10% ( 10 % ) shareholder of cisa , was no longer an employee , and we no longer considered cisa a related party . we purchased 6.1 billion mexican pesos for $ 560.3 million during the ten months ended march 31 , 2008 and 8.1 billion mexican pesos for $ 736.0 million during fiscal 2007 from cisa . we believe these currency transactions were executed at prevailing market exchange rates . also from time to time , money transfer transactions are settled at destination facilities owned by cisa . we incurred related settlement expenses , included in cost of service in the accompanying consolidated statements of income of $ 0.5 million in the ten months ended march 31 , 2008 . in fiscal 2007 and 2006 , we incurred related settlement expenses , included in cost of service in the accompanying consolidated statements of income of $ 0.7 and $ 0.6 million , respectively . in the normal course of business , we periodically utilize the services of contractors to provide software development services . one of our employees , hired in april 2005 , is also an employee , officer , and part owner of a firm that provides such services . the services provided by this firm primarily relate to software development in connection with our planned next generation front-end processing system in the united states . during fiscal 2008 , we capitalized fees paid to this firm of $ 0.3 million . as of may 31 , 2008 and 2007 , capitalized amounts paid to this firm of $ 4.9 million and $ 4.6 million , respectively , were included in property and equipment in the accompanying consolidated balance sheets . in addition , we expensed amounts paid to this firm of $ 0.3 million , $ 0.1 million and $ 0.5 million in the years ended may 31 , 2008 , 2007 and 2006 , respectively . note 13 2014commitments and contingencies leases we conduct a major part of our operations using leased facilities and equipment . many of these leases have renewal and purchase options and provide that we pay the cost of property taxes , insurance and maintenance . rent expense on all operating leases for fiscal 2008 , 2007 and 2006 was $ 30.4 million , $ 27.1 million , and $ 24.4 million , respectively . future minimum lease payments for all noncancelable leases at may 31 , 2008 were as follows : operating leases .
||operating leases|
|2009|$ 22883|
|2010|16359|
|2011|11746|
|2012|5277|
|2013|3365|
|thereafter|7816|
|total future minimum lease payments|$ 67446|
we are party to a number of other claims and lawsuits incidental to our business . in the opinion of management , the reasonably possible outcome of such matters , individually or in the aggregate , will not have a material adverse impact on our financial position , liquidity or results of operations. .
Question: what is the exchange rate pesos to dollar 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: |
0.53924 | Context:management 2019s discussion and analysis j.p . morgan chase & co . 26 j.p . morgan chase & co . / 2003 annual report $ 41.7 billion . nii was reduced by a lower volume of commercial loans and lower spreads on investment securities . as a compo- nent of nii , trading-related net interest income of $ 2.1 billion was up 13% ( 13 % ) from 2002 due to a change in the composition of , and growth in , trading assets . the firm 2019s total average interest-earning assets in 2003 were $ 590 billion , up 6% ( 6 % ) from the prior year . the net interest yield on these assets , on a fully taxable-equivalent basis , was 2.10% ( 2.10 % ) , compared with 2.09% ( 2.09 % ) in the prior year . noninterest expense year ended december 31 .
|( in millions )|2003|2002|change|
|compensation expense|$ 11695|$ 10983|6% ( 6 % )|
|occupancy expense|1912|1606|19|
|technology and communications expense|2844|2554|11|
|other expense|5137|5111|1|
|surety settlement and litigation reserve|100|1300|-92 ( 92 )|
|merger and restructuring costs|2014|1210|nm|
|total noninterest expense|$ 21688|$ 22764|( 5 ) % ( % )|
technology and communications expense in 2003 , technology and communications expense was 11% ( 11 % ) above the prior-year level . the increase was primarily due to a shift in expenses : costs that were previously associated with compensation and other expenses shifted , upon the commence- ment of the ibm outsourcing agreement , to technology and communications expense . also contributing to the increase were higher costs related to software amortization . for a further dis- cussion of the ibm outsourcing agreement , see support units and corporate on page 44 of this annual report . other expense other expense in 2003 rose slightly from the prior year , reflecting higher outside services . for a table showing the components of other expense , see note 8 on page 96 of this annual report . surety settlement and litigation reserve the firm added $ 100 million to the enron-related litigation reserve in 2003 to supplement a $ 900 million reserve initially recorded in 2002 . the 2002 reserve was established to cover enron-related matters , as well as certain other material litigation , proceedings and investigations in which the firm is involved . in addition , in 2002 the firm recorded a charge of $ 400 million for the settlement of enron-related surety litigation . merger and restructuring costs merger and restructuring costs related to business restructurings announced after january 1 , 2002 , were recorded in their relevant expense categories . in 2002 , merger and restructuring costs of $ 1.2 billion , for programs announced prior to january 1 , 2002 , were viewed by management as nonoperating expenses or 201cspecial items . 201d refer to note 8 on pages 95 201396 of this annual report for a further discussion of merger and restructuring costs and for a summary , by expense category and business segment , of costs incurred in 2003 and 2002 for programs announced after january 1 , 2002 . provision for credit losses the 2003 provision for credit losses was $ 2.8 billion lower than in 2002 , primarily reflecting continued improvement in the quality of the commercial loan portfolio and a higher volume of credit card securitizations . for further information about the provision for credit losses and the firm 2019s management of credit risk , see the dis- cussions of net charge-offs associated with the commercial and consumer loan portfolios and the allowance for credit losses , on pages 63 201365 of this annual report . income tax expense income tax expense was $ 3.3 billion in 2003 , compared with $ 856 million in 2002 . the effective tax rate in 2003 was 33% ( 33 % ) , compared with 34% ( 34 % ) in 2002 . the tax rate decline was principally attributable to changes in the proportion of income subject to state and local taxes . compensation expense compensation expense in 2003 was 6% ( 6 % ) higher than in the prior year . the increase principally reflected higher performance-related incentives , and higher pension and other postretirement benefit costs , primarily as a result of changes in actuarial assumptions . for a detailed discussion of pension and other postretirement benefit costs , see note 6 on pages 89 201393 of this annual report . the increase pertaining to incentives included $ 266 million as a result of adopting sfas 123 , and $ 120 million from the reversal in 2002 of previously accrued expenses for certain forfeitable key employ- ee stock awards , as discussed in note 7 on pages 93 201395 of this annual report . total compensation expense declined as a result of the transfer , beginning april 1 , 2003 , of 2800 employees to ibm in connection with a technology outsourcing agreement . the total number of full-time equivalent employees at december 31 , 2003 was 93453 compared with 94335 at the prior year-end . occupancy expense occupancy expense of $ 1.9 billion rose 19% ( 19 % ) from 2002 . the increase reflected costs of additional leased space in midtown manhattan and in the south and southwest regions of the united states ; higher real estate taxes in new york city ; and the cost of enhanced safety measures . also contributing to the increase were charges for unoccupied excess real estate of $ 270 million ; this compared with $ 120 million in 2002 , mostly in the third quarter of that year. .
Question: in 2003 what was the percent of the total noninterest expense that was related to compensation | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.38589 | Context:table of contents totaled an absolute notional equivalent of $ 292.3 million and $ 190.5 million , respectively , with the year-over-year increase primarily driven by earnings growth . at this time , we do not hedge these long-term investment exposures . we do not use foreign exchange contracts for speculative trading purposes , nor do we hedge our foreign currency exposure in a manner that entirely offsets the effects of changes in foreign exchange rates . we regularly review our hedging program and assess the need to utilize financial instruments to hedge currency exposures on an ongoing basis . cash flow hedging 2014hedges of forecasted foreign currency revenue we may use foreign exchange purchased options or forward contracts to hedge foreign currency revenue denominated in euros , british pounds and japanese yen . we hedge these cash flow exposures to reduce the risk that our earnings and cash flows will be adversely affected by changes in exchange rates . these foreign exchange contracts , carried at fair value , may have maturities between one and twelve months . we enter into these foreign exchange contracts to hedge forecasted revenue in the normal course of business and accordingly , they are not speculative in nature . we record changes in the intrinsic value of these cash flow hedges in accumulated other comprehensive income ( loss ) until the forecasted transaction occurs . when the forecasted transaction occurs , we reclassify the related gain or loss on the cash flow hedge to revenue . in the event the underlying forecasted transaction does not occur , or it becomes probable that it will not occur , we reclassify the gain or loss on the related cash flow hedge from accumulated other comprehensive income ( loss ) to interest and other income , net on our consolidated statements of income at that time . for the fiscal year ended november 30 , 2018 , there were no net gains or losses recognized in other income relating to hedges of forecasted transactions that did not occur . balance sheet hedging 2014hedging of foreign currency assets and liabilities we hedge exposures related to our net recognized foreign currency assets and liabilities with foreign exchange forward contracts to reduce the risk that our earnings and cash flows will be adversely affected by changes in foreign currency exchange rates . these foreign exchange contracts are carried at fair value with changes in the fair value recorded as interest and other income , net . these foreign exchange contracts do not subject us to material balance sheet risk due to exchange rate movements because gains and losses on these contracts are intended to offset gains and losses on the assets and liabilities being hedged . at november 30 , 2018 , the outstanding balance sheet hedging derivatives had maturities of 180 days or less . see note 5 of our notes to consolidated financial statements for information regarding our hedging activities . interest rate risk short-term investments and fixed income securities at november 30 , 2018 , we had debt securities classified as short-term investments of $ 1.59 billion . changes in interest rates could adversely affect the market value of these investments . the following table separates these investments , based on stated maturities , to show the approximate exposure to interest rates ( in millions ) : .
|due within one year|$ 612.1|
|due between one and two years|564.2|
|due between two and three years|282.2|
|due after three years|127.7|
|total|$ 1586.2|
a sensitivity analysis was performed on our investment portfolio as of november 30 , 2018 . the analysis is based on an estimate of the hypothetical changes in market value of the portfolio that would result from an immediate parallel shift in the yield curve of various magnitudes. .
Question: what portion of the presented investments is due within 12 months? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.23293 | Context:humana inc . notes to consolidated financial statements 2014 ( continued ) in any spe transactions . the adoption of fin 46 or fin 46-r did not have a material impact on our financial position , results of operations , or cash flows . in december 2004 , the fasb issued statement no . 123r , share-based payment , or statement 123r , which requires companies to expense the fair value of employee stock options and other forms of stock-based compensation . this requirement represents a significant change because fixed-based stock option awards , a predominate form of stock compensation for us , were not recognized as compensation expense under apb 25 . statement 123r requires the cost of the award , as determined on the date of grant at fair value , be recognized over the period during which an employee is required to provide service in exchange for the award ( usually the vesting period ) . the grant-date fair value of the award will be estimated using option-pricing models . we are required to adopt statement 123r no later than july 1 , 2005 under one of three transition methods , including a prospective , retrospective and combination approach . we previously disclosed on page 67 the effect of expensing stock options under a fair value approach using the black-scholes pricing model for 2004 , 2003 and 2002 . we currently are evaluating all of the provisions of statement 123r and the expected effect on us including , among other items , reviewing compensation strategies related to stock-based awards , selecting an option pricing model and determining the transition method . in march 2004 , the fasb issued eitf issue no . 03-1 , or eitf 03-1 , the meaning of other-than- temporary impairment and its application to certain investments . eitf 03-1 includes new guidance for evaluating and recording impairment losses on certain debt and equity investments when the fair value of the investment security is less than its carrying value . in september 2004 , the fasb delayed the previously scheduled third quarter 2004 effective date until the issuance of additional implementation guidance , expected in 2005 . upon issuance of a final standard , we will evaluate the impact on our consolidated financial position and results of operations . 3 . acquisitions on february 16 , 2005 , we acquired careplus health plans of florida , or careplus , as well as its affiliated 10 medical centers and pharmacy company . careplus provides medicare advantage hmo plans and benefits to medicare eligible members in miami-dade , broward and palm beach counties . this acquisition enhances our medicare market position in south florida . we paid approximately $ 450 million in cash including estimated transaction costs , subject to a balance sheet settlement process with a nine month claims run-out period . we currently are in the process of allocating the purchase price to the net tangible and intangible assets . on april 1 , 2004 , we acquired ochsner health plan , or ochsner , from the ochsner clinic foundation . ochsner is a louisiana health benefits company offering network-based managed care plans to employer-groups and medicare eligible members . this acquisition enabled us to enter a new market with significant market share which should facilitate new sales opportunities in this and surrounding markets , including houston , texas . we paid $ 157.1 million in cash , including transaction costs . the fair value of the tangible assets ( liabilities ) as of the acquisition date are as follows: .
||( in thousands )|
|cash and cash equivalents|$ 15270|
|investment securities|84527|
|premiums receivable and other current assets|20616|
|property and equipment and other assets|6847|
|medical and other expenses payable|-71063 ( 71063 )|
|other current liabilities|-21604 ( 21604 )|
|other liabilities|-82 ( 82 )|
|net tangible assets acquired|$ 34511|
.
Question: what is the percentage of other current liabilities among the total liabilities? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
176.0 | Context:marathon oil corporation notes to consolidated financial statements assumed health care cost trend rates have a significant effect on the amounts reported for defined benefit retiree health care plans . a one-percentage-point change in assumed health care cost trend rates would have the following effects : ( in millions ) 1-percentage- point increase 1-percentage- point decrease .
|( in millions )|1-percentage-point increase|1-percentage-point decrease|
|effect on total of service and interest cost components|$ 9|$ 7|
|effect on other postretirement benefit obligations|88|72|
plan investment policies and strategies the investment policies for our u.s . and international pension plan assets reflect the funded status of the plans and expectations regarding our future ability to make further contributions . long-term investment goals are to : ( 1 ) manage the assets in accordance with the legal requirements of all applicable laws ; ( 2 ) produce investment returns which meet or exceed the rates of return achievable in the capital markets while maintaining the risk parameters set by the plans 2019 investment committees and protecting the assets from any erosion of purchasing power ; and ( 3 ) position the portfolios with a long-term risk/return orientation . u.s . plans 2013 historical performance and future expectations suggest that common stocks will provide higher total investment returns than fixed income securities over a long-term investment horizon . short-term investments only reflect the liquidity requirements for making pension payments . as such , the plans 2019 targeted asset allocation is comprised of 75 percent equity securities and 25 percent fixed income securities . in the second quarter of 2009 , we exchanged the majority of our publicly-traded stocks and bonds for interests in pooled equity and fixed income investment funds from our outside manager , representing 58 percent and 20 percent of u.s . plan assets , respectively , as of december 31 , 2009 . these funds are managed with the same style and strategy as when the securities were held separately . each fund 2019s main objective is to provide investors with exposure to either a publicly-traded equity or fixed income portfolio comprised of both u.s . and non-u.s . securities . the equity fund holdings primarily consist of publicly-traded individually-held securities in various sectors of many industries . the fixed income fund holdings primarily consist of publicly-traded investment-grade bonds . the plans 2019 assets are managed by a third-party investment manager . the investment manager has limited discretion to move away from the target allocations based upon the manager 2019s judgment as to current confidence or concern regarding the capital markets . investments are diversified by industry and type , limited by grade and maturity . the plans 2019 investment policy prohibits investments in any securities in the steel industry and allows derivatives subject to strict guidelines , such that derivatives may only be written against equity securities in the portfolio . investment performance and risk is measured and monitored on an ongoing basis through quarterly investment meetings and periodic asset and liability studies . international plans 2013 our international plans 2019 target asset allocation is comprised of 70 percent equity securities and 30 percent fixed income securities . the plan assets are invested in six separate portfolios , mainly pooled fund vehicles , managed by several professional investment managers . investments are diversified by industry and type , limited by grade and maturity . the use of derivatives by the investment managers is permitted , subject to strict guidelines . the investment managers 2019 performance is measured independently by a third-party asset servicing consulting firm . overall , investment performance and risk is measured and monitored on an ongoing basis through quarterly investment portfolio reviews and periodic asset and liability studies . fair value measurements plan assets are measured at fair value . the definition and approaches to measuring fair value and the three levels of the fair value hierarchy are described in note 16 . the following provides a description of the valuation techniques employed for each major plan asset category at december 31 , 2009 and 2008 . cash and cash equivalents 2013 cash and cash equivalents include cash on deposit and an investment in a money market mutual fund that invests mainly in short-term instruments and cash , both of which are valued using a .
Question: what would the effect on other postretirement benefit obligations be if there was a 2-percent point 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: |
0.0347 | Context:debt maturities 2013 the following table presents aggregate debt maturities as of december 31 , 2011 , excluding market value adjustments : millions .
|2012|$ 309|
|2013|636|
|2014|706|
|2015|467|
|2016|517|
|thereafter|6271|
|total debt|$ 8906|
as of both december 31 , 2011 and december 31 , 2010 , we have reclassified as long-term debt approximately $ 100 million of debt due within one year that we intend to refinance . this reclassification reflects our ability and intent to refinance any short-term borrowings and certain current maturities of long- term debt on a long-term basis . mortgaged properties 2013 equipment with a carrying value of approximately $ 2.9 billion and $ 3.2 billion at december 31 , 2011 and 2010 , respectively , served as collateral for capital leases and other types of equipment obligations in accordance with the secured financing arrangements utilized to acquire such railroad equipment . as a result of the merger of missouri pacific railroad company ( mprr ) with and into uprr on january 1 , 1997 , and pursuant to the underlying indentures for the mprr mortgage bonds , uprr must maintain the same value of assets after the merger in order to comply with the security requirements of the mortgage bonds . as of the merger date , the value of the mprr assets that secured the mortgage bonds was approximately $ 6.0 billion . in accordance with the terms of the indentures , this collateral value must be maintained during the entire term of the mortgage bonds irrespective of the outstanding balance of such bonds . credit facilities 2013 during the second quarter of 2011 , we replaced our $ 1.9 billion revolving credit facility , which was scheduled to expire in april 2012 , with a new $ 1.8 billion facility that expires in may 2015 ( the facility ) . the facility is based on substantially similar terms as those in the previous credit facility . on december 31 , 2011 , we had $ 1.8 billion of credit available under the facility , which is designated for general corporate purposes and supports the issuance of commercial paper . we did not draw on either facility during 2011 . commitment fees and interest rates payable under the facility are similar to fees and rates available to comparably rated , investment-grade borrowers . the facility allows for borrowings at floating rates based on london interbank offered rates , plus a spread , depending upon our senior unsecured debt ratings . the facility requires the corporation to maintain a debt-to-net-worth coverage ratio as a condition to making a borrowing . at december 31 , 2011 , and december 31 , 2010 ( and at all times during the year ) , we were in compliance with this covenant . the definition of debt used for purposes of calculating the debt-to-net-worth coverage ratio includes , among other things , certain credit arrangements , capital leases , guarantees and unfunded and vested pension benefits under title iv of erisa . at december 31 , 2011 , the debt-to-net-worth coverage ratio allowed us to carry up to $ 37.2 billion of debt ( as defined in the facility ) , and we had $ 9.5 billion of debt ( as defined in the facility ) outstanding at that date . under our current capital plans , we expect to continue to satisfy the debt-to-net-worth coverage ratio ; however , many factors beyond our reasonable control ( including the risk factors in item 1a of this report ) could affect our ability to comply with this provision in the future . the facility does not include any other financial restrictions , credit rating triggers ( other than rating-dependent pricing ) , or any other provision that could require us to post collateral . the facility also includes a $ 75 million cross-default provision and a change-of-control provision . during 2011 , we did not issue or repay any commercial paper and , at december 31 , 2011 , we had no commercial paper outstanding . outstanding commercial paper balances are supported by our revolving credit facility but do not reduce the amount of borrowings available under the facility . dividend restrictions 2013 our revolving credit facility includes a debt-to-net worth covenant ( discussed in the credit facilities section above ) that , under certain circumstances , restricts the payment of cash .
Question: what percent of debt is current as of 12/31/2011? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.05007 | Context:entergy louisiana , llc and subsidiaries management 2019s financial discussion and analysis results of operations net income 2017 compared to 2016 net income decreased $ 305.7 million primarily due to the effect of the enactment of the tax cuts and jobs act , in december 2017 , which resulted in a decrease of $ 182.6 million in net income in 2017 , and the effect of a settlement with the irs related to the 2010-2011 irs audit , which resulted in a $ 136.1 million reduction of income tax expense in 2016 . also contributing to the decrease in net income were higher other operation and maintenance expenses . the decrease was partially offset by higher net revenue and higher other income . see note 3 to the financial statements for discussion of the effects of the tax cuts and jobs act and the irs audit . 2016 compared to 2015 net income increased $ 175.4 million primarily due to the effect of a settlement with the irs related to the 2010-2011 irs audit , which resulted in a $ 136.1 million reduction of income tax expense in 2016 . also contributing to the increase were lower other operation and maintenance expenses , higher net revenue , and higher other income . the increase was partially offset by higher depreciation and amortization expenses , higher interest expense , and higher nuclear refueling outage expenses . see note 3 to the financial statements for discussion of the irs audit . net revenue 2017 compared to 2016 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges ( credits ) . following is an analysis of the change in net revenue comparing 2017 to 2016 . amount ( in millions ) .
||amount ( in millions )|
|2016 net revenue|$ 2438.4|
|regulatory credit resulting from reduction of thefederal corporate income tax rate|55.5|
|retail electric price|42.8|
|louisiana act 55 financing savings obligation|17.2|
|volume/weather|-12.4 ( 12.4 )|
|other|19.0|
|2017 net revenue|$ 2560.5|
the regulatory credit resulting from reduction of the federal corporate income tax rate variance is due to the reduction of the vidalia purchased power agreement regulatory liability by $ 30.5 million and the reduction of the louisiana act 55 financing savings obligation regulatory liabilities by $ 25 million as a result of the enactment of the tax cuts and jobs act , in december 2017 , which lowered the federal corporate income tax rate from 35% ( 35 % ) to 21% ( 21 % ) . the effects of the tax cuts and jobs act are discussed further in note 3 to the financial statements. .
Question: in 2017 what was the percentage change in the net revenue | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
1280.0 | Context:december 31 , december 31 , december 31 , december 31 , december 31 , december 31 .
||december 312011|december 312012|december 312013|december 312014|december 312015|december 312016|
|disca|$ 100.00|$ 154.94|$ 220.70|$ 168.17|$ 130.24|$ 133.81|
|discb|$ 100.00|$ 150.40|$ 217.35|$ 175.04|$ 127.80|$ 137.83|
|disck|$ 100.00|$ 155.17|$ 222.44|$ 178.89|$ 133.79|$ 142.07|
|s&p 500|$ 100.00|$ 113.41|$ 146.98|$ 163.72|$ 162.53|$ 178.02|
|peer group|$ 100.00|$ 134.98|$ 220.77|$ 253.19|$ 243.93|$ 271.11|
equity compensation plan information information regarding securities authorized for issuance under equity compensation plans will be set forth in our definitive proxy statement for our 2017 annual meeting of stockholders under the caption 201csecurities authorized for issuance under equity compensation plans , 201d which is incorporated herein by reference . item 6 . selected financial data . the table set forth below presents our selected financial information for each of the past five years ( in millions , except per share amounts ) . the selected statement of operations information for each of the three years ended december 31 , 2016 and the selected balance sheet information as of december 31 , 2016 and 2015 have been derived from and should be read in conjunction with the information in item 7 , 201cmanagement 2019s discussion and analysis of financial condition and results of operations , 201d the audited consolidated financial statements included in item 8 , 201cfinancial statements and supplementary data , 201d and other financial information included elsewhere in this annual report on form 10-k . the selected statement of operations information for each of the two years ended december 31 , 2013 and 2012 and the selected balance sheet information as of december 31 , 2014 , 2013 and 2012 have been derived from financial statements not included in this annual report on form 10-k . 2016 2015 2014 2013 2012 selected statement of operations information : revenues $ 6497 $ 6394 $ 6265 $ 5535 $ 4487 operating income 2058 1985 2061 1975 1859 income from continuing operations , net of taxes 1218 1048 1137 1077 956 loss from discontinued operations , net of taxes 2014 2014 2014 2014 ( 11 ) net income 1218 1048 1137 1077 945 net income available to discovery communications , inc . 1194 1034 1139 1075 943 basic earnings per share available to discovery communications , inc . series a , b and c common stockholders : continuing operations $ 1.97 $ 1.59 $ 1.67 $ 1.50 $ 1.27 discontinued operations 2014 2014 2014 2014 ( 0.01 ) net income 1.97 1.59 1.67 1.50 1.25 diluted earnings per share available to discovery communications , inc . series a , b and c common stockholders : continuing operations $ 1.96 $ 1.58 $ 1.66 $ 1.49 $ 1.26 discontinued operations 2014 2014 2014 2014 ( 0.01 ) net income 1.96 1.58 1.66 1.49 1.24 weighted average shares outstanding : basic 401 432 454 484 498 diluted 610 656 687 722 759 selected balance sheet information : cash and cash equivalents $ 300 $ 390 $ 367 $ 408 $ 1201 total assets 15758 15864 15970 14934 12892 long-term debt : current portion 82 119 1107 17 31 long-term portion 7841 7616 6002 6437 5174 total liabilities 10348 10172 9619 8701 6599 redeemable noncontrolling interests 243 241 747 36 2014 equity attributable to discovery communications , inc . 5167 5451 5602 6196 6291 total equity $ 5167 $ 5451 $ 5604 $ 6197 $ 6293 2022 income per share amounts may not sum since each is calculated independently . 2022 on september 30 , 2016 , the company recorded an other-than-temporary impairment of $ 62 million related to its investment in lionsgate . on december 2 , 2016 , the company acquired a 39% ( 39 % ) minority interest in group nine media , a newly formed media holding company , in exchange for contributions of $ 100 million and the company's digital network businesses seeker and sourcefed , resulting in a gain of $ 50 million upon deconsolidation of the businesses . ( see note 4 to the accompanying consolidated financial statements. ) .
Question: what would the company's 2016 net income be in millions without the impairment related to its investment in lionsgate? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.61801 | Context:31mar201122064257 positions which were required to be capitalized . there are no positions which we anticipate could change materially within the next twelve months . liquidity and capital resources .
|( dollars in thousands )|fiscal years ended october 1 2010|fiscal years ended october 2 2009|fiscal years ended october 3 2008|
|cash and cash equivalents at beginning of period|$ 364221|$ 225104|$ 241577|
|net cash provided by operating activities|222962|218805|182673|
|net cash used in investing activities|-95329 ( 95329 )|-49528 ( 49528 )|-94959 ( 94959 )|
|net cash used in financing activities|-38597 ( 38597 )|-30160 ( 30160 )|-104187 ( 104187 )|
|cash and cash equivalents at end of period ( 1 )|$ 453257|$ 364221|$ 225104|
( 1 ) does not include restricted cash balances cash flow from operating activities : cash provided from operating activities is net income adjusted for certain non-cash items and changes in certain assets and liabilities . for fiscal year 2010 we generated $ 223.0 million in cash flow from operations , an increase of $ 4.2 million when compared to the $ 218.8 million generated in fiscal year 2009 . during fiscal year 2010 , net income increased by $ 42.3 million to $ 137.3 million when compared to fiscal year 2009 . despite the increase in net income , net cash provided by operating activities remained relatively consistent . this was primarily due to : 2022 fiscal year 2010 net income included a deferred tax expense of $ 38.5 million compared to a $ 24.9 million deferred tax benefit included in 2009 net income due to the release of the tax valuation allowance in fiscal year 2009 . 2022 during fiscal year 2010 , the company invested in working capital as result of higher business activity . compared to fiscal year 2009 , accounts receivable , inventory and accounts payable increased by $ 60.9 million , $ 38.8 million and $ 42.9 million , respectively . cash flow from investing activities : cash flow from investing activities consists primarily of capital expenditures and acquisitions . we had net cash outflows of $ 95.3 million in fiscal year 2010 , compared to $ 49.5 million in fiscal year 2009 . the increase is primarily due to an increase of $ 49.8 million in capital expenditures . we anticipate our capital spending to be consistent in fiscal year 2011 to maintain our projected growth rate . cash flow from financing activities : cash flows from financing activities consist primarily of cash transactions related to debt and equity . during fiscal year 2010 , we had net cash outflows of $ 38.6 million , compared to $ 30.2 million in fiscal year 2009 . during the year we had the following significant transactions : 2022 we retired $ 53.0 million in aggregate principal amount ( carrying value of $ 51.1 million ) of 2007 convertible notes for $ 80.7 million , which included a $ 29.6 million premium paid for the equity component of the instrument . 2022 we received net proceeds from employee stock option exercises of $ 40.5 million in fiscal year 2010 , compared to $ 38.7 million in fiscal year 2009 . skyworks / 2010 annual report 103 .
Question: in 2009 what was the percentage change in the liquidity and capital resources | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.04463 | Context:entergy mississippi , inc . management's financial discussion and analysis the net wholesale revenue variance is primarily due to lower profit on joint account sales and reduced capacity revenue from the municipal energy agency of mississippi . gross operating revenues , fuel and purchased power expenses , and other regulatory charges gross operating revenues increased primarily due to an increase of $ 152.5 million in fuel cost recovery revenues due to higher fuel rates , partially offset by a decrease of $ 43 million in gross wholesale revenues due to a decrease in net generation and purchases in excess of decreased net area demand resulting in less energy available for resale sales coupled with a decrease in system agreement remedy receipts . fuel and purchased power expenses increased primarily due to increases in the average market prices of natural gas and purchased power , partially offset by decreased demand and decreased recovery from customers of deferred fuel costs . other regulatory charges increased primarily due to increased recovery through the grand gulf rider of grand gulf capacity costs due to higher rates and increased recovery of costs associated with the power management recovery rider . there is no material effect on net income due to quarterly adjustments to the power management recovery rider . 2007 compared to 2006 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges ( credits ) . following is an analysis of the change in net revenue comparing 2007 to 2006 . amount ( in millions ) .
||amount ( in millions )|
|2006 net revenue|$ 466.1|
|base revenue|7.9|
|volume/weather|4.5|
|transmission revenue|4.1|
|transmission equalization|4.0|
|reserve equalization|3.8|
|attala costs|-10.2 ( 10.2 )|
|other|6.7|
|2007 net revenue|$ 486.9|
the base revenue variance is primarily due to a formula rate plan increase effective july 2007 . the formula rate plan filing is discussed further in "state and local rate regulation" below . the volume/weather variance is primarily due to increased electricity usage primarily in the residential and commercial sectors , including the effect of more favorable weather on billed electric sales in 2007 compared to 2006 . billed electricity usage increased 214 gwh . the increase in usage was partially offset by decreased usage in the industrial sector . the transmission revenue variance is due to higher rates and the addition of new transmission customers in late 2006 . the transmission equalization variance is primarily due to a revision made in 2006 of transmission equalization receipts among entergy companies . the reserve equalization variance is primarily due to a revision in 2006 of reserve equalization payments among entergy companies due to a ferc ruling regarding the inclusion of interruptible loads in reserve .
Question: what is the percentage change in net revenue in 2007 compare to 2006? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
383.0 | Context:schedule iii page 6 of 6 host hotels & resorts , inc. , and subsidiaries host hotels & resorts , l.p. , and subsidiaries real estate and accumulated depreciation december 31 , 2017 ( in millions ) ( b ) the change in accumulated depreciation and amortization of real estate assets for the fiscal years ended december 31 , 2017 , 2016 and 2015 is as follows: .
|balance at december 31 2014|$ 5283|
|depreciation and amortization|558|
|dispositions and other|-148 ( 148 )|
|depreciation on assets held for sale|-27 ( 27 )|
|balance at december 31 2015|5666|
|depreciation and amortization|572|
|dispositions and other|-159 ( 159 )|
|depreciation on assets held for sale|-130 ( 130 )|
|balance at december 31 2016|5949|
|depreciation and amortization|563|
|dispositions and other|-247 ( 247 )|
|depreciation on assets held for sale|7|
|balance at december 31 2017|$ 6272|
( c ) the aggregate cost of real estate for federal income tax purposes is approximately $ 10698 million at december 31 , 2017 . ( d ) the total cost of properties excludes construction-in-progress properties. .
Question: what was the net change in millions in the accumulated depreciation and amortization of real estate assets 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: |
587.0 | Context:general market conditions affecting trust asset performance , future discount rates based on average yields of high quality corporate bonds and our decisions regarding certain elective provisions of the we currently project that we will make total u.s . and foreign benefit plan contributions in 2014 of approximately $ 57 million . actual 2014 contributions could be different from our current projections , as influenced by our decision to undertake discretionary funding of our benefit trusts versus other competing investment priorities , future changes in government requirements , trust asset performance , renewals of union contracts , or higher-than-expected health care claims cost experience . we measure cash flow as net cash provided by operating activities reduced by expenditures for property additions . we use this non-gaap financial measure of cash flow to focus management and investors on the amount of cash available for debt repayment , dividend distributions , acquisition opportunities , and share repurchases . our cash flow metric is reconciled to the most comparable gaap measure , as follows: .
|( dollars in millions )|2013|2012|2011|
|net cash provided by operating activities|$ 1807|$ 1758|$ 1595|
|additions to properties|-637 ( 637 )|-533 ( 533 )|-594 ( 594 )|
|cash flow|$ 1170|$ 1225|$ 1001|
|year-over-year change|( 4.5 ) % ( % )|22.4% ( 22.4 % )||
year-over-year change ( 4.5 ) % ( % ) 22.4% ( 22.4 % ) the decrease in cash flow ( as defined ) in 2013 compared to 2012 was due primarily to higher capital expenditures . the increase in cash flow in 2012 compared to 2011 was driven by improved performance in working capital resulting from the one-time benefit derived from the pringles acquisition , as well as changes in the level of capital expenditures during the three-year period . investing activities our net cash used in investing activities for 2013 amounted to $ 641 million , a decrease of $ 2604 million compared with 2012 primarily attributable to the $ 2668 million acquisition of pringles in 2012 . capital spending in 2013 included investments in our supply chain infrastructure , and to support capacity requirements in certain markets , including pringles . in addition , we continued the investment in our information technology infrastructure related to the reimplementation and upgrade of our sap platform . net cash used in investing activities of $ 3245 million in 2012 increased by $ 2658 million compared with 2011 , due to the acquisition of pringles in 2012 . cash paid for additions to properties as a percentage of net sales has increased to 4.3% ( 4.3 % ) in 2013 , from 3.8% ( 3.8 % ) in 2012 , which was a decrease from 4.5% ( 4.5 % ) in financing activities our net cash used by financing activities was $ 1141 million for 2013 , compared to net cash provided by financing activities of $ 1317 million for 2012 and net cash used in financing activities of $ 957 million for 2011 . the increase in cash provided from financing activities in 2012 compared to 2013 and 2011 , was primarily due to the issuance of debt related to the acquisition of pringles . total debt was $ 7.4 billion at year-end 2013 and $ 7.9 billion at year-end 2012 . in february 2013 , we issued $ 250 million of two-year floating-rate u.s . dollar notes , and $ 400 million of ten-year 2.75% ( 2.75 % ) u.s . dollar notes , resulting in aggregate net proceeds after debt discount of $ 645 million . the proceeds from these notes were used for general corporate purposes , including , together with cash on hand , repayment of the $ 750 million aggregate principal amount of our 4.25% ( 4.25 % ) u.s . dollar notes due march 2013 . in may 2012 , we issued $ 350 million of three-year 1.125% ( 1.125 % ) u.s . dollar notes , $ 400 million of five-year 1.75% ( 1.75 % ) u.s . dollar notes and $ 700 million of ten-year 3.125% ( 3.125 % ) u.s . dollar notes , resulting in aggregate net proceeds after debt discount of $ 1.442 billion . the proceeds of these notes were used for general corporate purposes , including financing a portion of the acquisition of pringles . in may 2012 , we issued cdn . $ 300 million of two-year 2.10% ( 2.10 % ) fixed rate canadian dollar notes , using the proceeds from these notes for general corporate purposes , which included repayment of intercompany debt . this repayment resulted in cash available to be used for a portion of the acquisition of pringles . in december 2012 , we repaid $ 750 million five-year 5.125% ( 5.125 % ) u.s . dollar notes at maturity with commercial paper . in april 2011 , we repaid $ 945 million ten-year 6.60% ( 6.60 % ) u.s . dollar notes at maturity with commercial paper . in may 2011 , we issued $ 400 million of seven-year 3.25% ( 3.25 % ) fixed rate u.s . dollar notes , using the proceeds of $ 397 million for general corporate purposes and repayment of commercial paper . in november 2011 , we issued $ 500 million of five-year 1.875% ( 1.875 % ) fixed rate u . s . dollar notes , using the proceeds of $ 498 million for general corporate purposes and repayment of commercial paper. .
Question: what was the net cash used by investing activities in 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: |
23705.0 | 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 was the net reserve allowance on the prime mortgage and option arm pools of loans , in millions?\\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: |
0.5697 | Context:management believes it is important for interna- tional paper to maintain an investment-grade credit rat- ing to facilitate access to capital markets on favorable terms . at december 31 , 2005 , the company held long- term credit ratings of bbb ( negative outlook ) and baa3 ( stable outlook ) from standard & poor 2019s and moody 2019s investor services , respectively . cash provided by operations cash provided by continuing operations totaled $ 1.5 billion for 2005 , compared with $ 2.1 billion in 2004 and $ 1.5 billion in 2003 . the major components of cash provided by continuing operations are earnings from continuing operations adjusted for non-cash in- come and expense items and changes in working capital . earnings from continuing operations adjusted for non-cash items declined by $ 83 million in 2005 versus 2004 . this compared with an increase of $ 612 million for 2004 over 2003 . working capital , representing international paper 2019s investments in accounts receivable and inventory less accounts payable and accrued liabilities , was $ 2.6 billion at december 31 , 2005 . cash used for working capital components increased by $ 591 million in 2005 , com- pared with a $ 86 million increase in 2004 and an $ 11 million increase in 2003 . the increase in 2005 was principally due to a decline in accrued liabilities at de- cember 31 , 2005 . investment activities capital spending from continuing operations was $ 1.2 billion in 2005 , or 84% ( 84 % ) of depreciation and amor- tization , comparable to the $ 1.2 billion , or 87% ( 87 % ) of depreciation and amortization in 2004 , and $ 1.0 billion , or 74% ( 74 % ) of depreciation and amortization in 2003 . the following table presents capital spending from continuing operations by each of our business segments for the years ended december 31 , 2005 , 2004 and 2003 . in millions 2005 2004 2003 .
|in millions|2005|2004|2003|
|printing papers|$ 658|$ 590|$ 482|
|industrial packaging|187|179|165|
|consumer packaging|131|205|128|
|distribution|9|5|12|
|forest products|121|126|121|
|specialty businesses and other|31|39|31|
|subtotal|1137|1144|939|
|corporate and other|18|32|54|
|total from continuing operations|$ 1155|$ 1176|$ 993|
we expect capital expenditures in 2006 to be about $ 1.2 billion , or about 80% ( 80 % ) of depreciation and amor- tization . we will continue to focus our future capital spending on improving our key platform businesses in north america and on investments in geographic areas with strong growth opportunities . acquisitions in october 2005 , international paper acquired ap- proximately 65% ( 65 % ) of compagnie marocaine des cartons et des papiers ( cmcp ) , a leading moroccan corrugated packaging company , for approximately $ 80 million in cash plus assumed debt of approximately $ 40 million . in august 2005 , pursuant to an existing agreement , international paper purchased a 50% ( 50 % ) third-party interest in ippm ( subsequently renamed international paper distribution limited ) for $ 46 million to facilitate possi- ble further growth in asian markets . in 2001 , interna- tional paper had acquired a 25% ( 25 % ) interest in this business . the accompanying consolidated balance sheet as of december 31 , 2005 includes preliminary estimates of the fair values of the assets and liabilities acquired , including approximately $ 50 million of goodwill . in july 2004 , international paper acquired box usa holdings , inc . ( box usa ) for approximately $ 400 million , including the assumption of approximately $ 197 million of debt , of which approximately $ 193 mil- lion was repaid by july 31 , 2004 . each of the above acquisitions was accounted for using the purchase method . the operating results of these acquisitions have been included in the con- solidated statement of operations from the dates of ac- quisition . financing activities 2005 : financing activities during 2005 included debt issuances of $ 1.0 billion and retirements of $ 2.7 billion , for a net debt and preferred securities reduction of $ 1.7 billion . in november and december 2005 , international paper investments ( luxembourg ) s.ar.l. , a wholly- owned subsidiary of international paper , issued $ 700 million of long-term debt with an initial interest rate of libor plus 40 basis points that can vary depending upon the credit rating of the company , and a maturity date in november 2010 . additionally , the subsidiary borrowed $ 70 million under a bank credit agreement with an initial interest rate of libor plus 40 basis points that can vary depending upon the credit rating of the company , and a maturity date in november 2006 . in december 2005 , international paper used pro- ceeds from the above borrowings , and from the sale of chh in the third quarter of 2005 , to repay approx- imately $ 190 million of notes with coupon rates ranging from 3.8% ( 3.8 % ) to 10% ( 10 % ) and original maturities from 2008 to 2029 . the remaining proceeds from the borrowings and the chh sale will be used for further debt reductions in the first quarter of 2006. .
Question: what percentage of capital spending from continuing operations was from the printing papers segment in 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: |
0.8126 | Context:american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) the company has selected december 1 as the date to perform its annual impairment test . in performing its 2005 and 2004 testing , the company completed an internal appraisal and estimated the fair value of the rental and management reporting unit that contains goodwill utilizing future discounted cash flows and market information . based on the appraisals performed , the company determined that goodwill in its rental and management segment was not impaired . the company 2019s other intangible assets subject to amortization consist of the following as of december 31 , ( in thousands ) : .
||2005|2004|
|acquired customer base and network location intangibles|$ 2606546|$ 1369607|
|deferred financing costs|65623|89736|
|acquired licenses and other intangibles|51703|43404|
|total|2723872|1502747|
|less accumulated amortization|-646560 ( 646560 )|-517444 ( 517444 )|
|other intangible assets net|$ 2077312|$ 985303|
the company amortizes its intangible assets over periods ranging from three to fifteen years . amortization of intangible assets for the years ended december 31 , 2005 and 2004 aggregated approximately $ 136.0 million and $ 97.8 million , respectively ( excluding amortization of deferred financing costs , which is included in interest expense ) . the company expects to record amortization expense of approximately $ 183.6 million , $ 178.3 million , $ 174.4 million , $ 172.7 million and $ 170.3 million , for the years ended december 31 , 2006 , 2007 , 2008 , 2009 and 2010 , respectively . these amounts are subject to changes in estimates until the preliminary allocation of the spectrasite purchase price is finalized . 6 . notes receivable in 2000 , the company loaned tv azteca , s.a . de c.v . ( tv azteca ) , the owner of a major national television network in mexico , $ 119.8 million . the loan , which initially bore interest at 12.87% ( 12.87 % ) , payable quarterly , was discounted by the company , as the fair value interest rate at the date of the loan was determined to be 14.25% ( 14.25 % ) . the loan was amended effective january 1 , 2003 to increase the original interest rate to 13.11% ( 13.11 % ) . as of december 31 , 2005 and 2004 , approximately $ 119.8 million undiscounted ( $ 108.2 million discounted ) under the loan was outstanding and included in notes receivable and other long-term assets in the accompanying consolidated balance sheets . the term of the loan is seventy years ; however , the loan may be prepaid by tv azteca without penalty during the last fifty years of the agreement . the discount on the loan is being amortized to interest income 2014tv azteca , net , using the effective interest method over the seventy-year term of the loan . simultaneous with the signing of the loan agreement , the company also entered into a seventy year economic rights agreement with tv azteca regarding space not used by tv azteca on approximately 190 of its broadcast towers . in exchange for the issuance of the below market interest rate loan discussed above and the annual payment of $ 1.5 million to tv azteca ( under the economic rights agreement ) , the company has the right to market and lease the unused tower space on the broadcast towers ( the economic rights ) . tv azteca retains title to these towers and is responsible for their operation and maintenance . the company is entitled to 100% ( 100 % ) of the revenues generated from leases with tenants on the unused space and is responsible for any incremental operating expenses associated with those tenants. .
Question: what was the percentage of the increase in the customer intangible asset from 2004 to 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: |
0.33252 | Context:part ii item 5 . market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities our class a common stock has been listed on the new york stock exchange under the symbol 201cv 201d since march 19 , 2008 . at november 8 , 2019 , we had 348 stockholders of record of our class a common stock . the number of beneficial owners is substantially greater than the number of record holders , because a large portion of our class a common stock is held in 201cstreet name 201d by banks and brokers . there is currently no established public trading market for our class b or c common stock . there were 1397 and 509 holders of record of our class b and c common stock , respectively , as of november 8 , 2019 . on october 22 , 2019 , our board of directors declared a quarterly cash dividend of $ 0.30 per share of class a common stock ( determined in the case of class b and c common stock and series b and c preferred stock on an as-converted basis ) payable on december 3 , 2019 , to holders of record as of november 15 , 2019 of our common and preferred stock . subject to legally available funds , we expect to continue paying quarterly cash dividends on our outstanding common and preferred stock in the future . however , the declaration and payment of future dividends is at the sole discretion of our board of directors after taking into account various factors , including our financial condition , settlement indemnifications , operating results , available cash and current and anticipated cash needs . issuer purchases of equity securities the table below sets forth our purchases of common stock during the quarter ended september 30 , 2019 . period total number of shares purchased average price paid per share total number of shares purchased as part of publicly announced plans or programs ( 1 ) ( 2 ) approximate dollar value of shares that may yet be purchased under the plans or programs ( 1 ) ( 2 ) .
|period|total number ofshares purchased|average price paidper share|total number ofshares purchasedas part of publiclyannounced plans orprograms ( 1 ) ( 2 )|approximatedollar valueof shares thatmay yet bepurchased under the plans orprograms ( 1 ) ( 2 )|
|july 1-31 2019|3680103|$ 179.32|3680103|$ 5502430029|
|august 1-31 2019|4064795|$ 176.17|4064795|$ 4786268909|
|september 1-30 2019|4479497|$ 176.61|4479497|$ 3995051745|
|total|12224395|$ 177.28|12224395||
( 1 ) the figures in the table reflect transactions according to the trade dates . for purposes of our consolidated financial statements included in this form 10-k , the impact of these repurchases is recorded according to the settlement dates . ( 2 ) our board of directors from time to time authorizes the repurchase of shares of our common stock up to a certain monetary limit . in january 2019 , our board of directors authorized a share repurchase program for $ 8.5 billion . this authorization has no expiration date . all share repurchase programs authorized prior to january 2019 have been completed. .
Question: for the quarter ended september 302013 what was the percent of the total number of shares purchased in august | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
4505.0 | Context:liquidity and capital resources as of december 31 , 2011 , our principal sources of liquidity included cash , cash equivalents , our receivables securitization facility , and our revolving credit facility , as well as the availability of commercial paper and other sources of financing through the capital markets . we had $ 1.8 billion of committed credit available under our credit facility , with no borrowings outstanding as of december 31 , 2011 . we did not make any borrowings under this facility during 2011 . the value of the outstanding undivided interest held by investors under the receivables securitization facility was $ 100 million as of december 31 , 2011 , and is included in our consolidated statements of financial position as debt due after one year . the receivables securitization facility obligates us to maintain an investment grade bond rating . if our bond rating were to deteriorate , it could have an adverse impact on our liquidity . access to commercial paper as well as other capital market financings is dependent on market conditions . deterioration of our operating results or financial condition due to internal or external factors could negatively impact our ability to access capital markets as a source of liquidity . access to liquidity through the capital markets is also dependent on our financial stability . we expect that we will continue to have access to liquidity by issuing bonds to public or private investors based on our assessment of the current condition of the credit markets . at december 31 , 2011 and 2010 , we had a working capital surplus . this reflects a strong cash position , which provides enhanced liquidity in an uncertain economic environment . in addition , we believe we have adequate access to capital markets to meet cash requirements , and we have sufficient financial capacity to satisfy our current liabilities . cash flows millions 2011 2010 2009 .
|cash flowsmillions|2011|2010|2009|
|cash provided by operating activities|$ 5873|$ 4105|$ 3204|
|cash used in investing activities|-3119 ( 3119 )|-2488 ( 2488 )|-2145 ( 2145 )|
|cash used in financing activities|-2623 ( 2623 )|-2381 ( 2381 )|-458 ( 458 )|
|net change in cash and cashequivalents|$ 131|$ -764 ( 764 )|$ 601|
operating activities higher net income and lower cash income tax payments in 2011 increased cash provided by operating activities compared to 2010 . the tax relief , unemployment insurance reauthorization , and job creation act of 2010 , enacted in december 2010 , provided for 100% ( 100 % ) bonus depreciation for qualified investments made during 2011 , and 50% ( 50 % ) bonus depreciation for qualified investments made during 2012 . as a result of the act , the company deferred a substantial portion of its 2011 income tax expense . this deferral decreased 2011 income tax payments , thereby contributing to the positive operating cash flow . in future years , however , additional cash will be used to pay income taxes that were previously deferred . in addition , the adoption of a new accounting standard in january of 2010 changed the accounting treatment for our receivables securitization facility from a sale of undivided interests ( recorded as an operating activity ) to a secured borrowing ( recorded as a financing activity ) , which decreased cash provided by operating activities by $ 400 million in 2010 . higher net income in 2010 increased cash provided by operating activities compared to 2009 . investing activities higher capital investments partially offset by higher proceeds from asset sales in 2011 drove the increase in cash used in investing activities compared to 2010 . higher capital investments and lower proceeds from asset sales in 2010 drove the increase in cash used in investing activities compared to 2009. .
Question: what would operating cash flow have been in 2010 without the changed accounting standards for the receivables securitization facility , in us$ million? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.21952 | Context:part i berths at the end of 2011 . there are approximately 10 ships with an estimated 34000 berths that are expected to be placed in service in the north american cruise market between 2012 and 2016 . europe in europe , cruising represents a smaller but growing sector of the vacation industry . it has experienced a compound annual growth rate in cruise guests of approximately 9.6% ( 9.6 % ) from 2007 to 2011 and we believe this market has significant continued growth poten- tial . we estimate that europe was served by 104 ships with approximately 100000 berths at the beginning of 2007 and by 121 ships with approximately 155000 berths at the end of 2011 . there are approximately 10 ships with an estimated 28000 berths that are expected to be placed in service in the european cruise market between 2012 and 2016 . the following table details the growth in the global , north american and european cruise markets in terms of cruise guests and estimated weighted-average berths over the past five years : global cruise guests ( 1 ) weighted-average supply of berths marketed globally ( 1 ) north american cruise guests ( 2 ) weighted-average supply of berths marketed in north america ( 1 ) european cruise guests ( 3 ) weighted-average supply of berths marketed in europe ( 1 ) .
|year|global cruiseguests ( 1 )|weighted-averagesupplyofberthsmarketedglobally ( 1 )|northamericancruiseguests ( 2 )|weighted-average supply ofberths marketedin northamerica ( 1 )|europeancruiseguests|weighted-averagesupply ofberthsmarketed ineurope ( 1 )|
|2007|16586000|327000|10247000|212000|4080000|105000|
|2008|17184000|347000|10093000|219000|4500000|120000|
|2009|17340000|363000|10198000|222000|5000000|131000|
|2010|18800000|391000|10781000|232000|5540000|143000|
|2011|20227000|412000|11625000|245000|5894000|149000|
( 1 ) source : our estimates of the number of global cruise guests , and the weighted-average supply of berths marketed globally , in north america and europe are based on a combination of data that we obtain from various publicly available cruise industry trade information sources including seatrade insider and cruise line international association . in addition , our estimates incorporate our own statistical analysis utilizing the same publicly available cruise industry data as a base . ( 2 ) source : cruise line international association based on cruise guests carried for at least two consecutive nights for years 2007 through 2010 . year 2011 amounts represent our estimates ( see number 1 above ) . ( 3 ) source : european cruise council for years 2007 through 2010 . year 2011 amounts represent our estimates ( see number 1 above ) . other markets in addition to expected industry growth in north america and europe as discussed above , we expect the asia/pacific region to demonstrate an even higher growth rate in the near term , although it will continue to represent a relatively small sector compared to north america and europe . we compete with a number of cruise lines ; however , our principal competitors are carnival corporation & plc , which owns , among others , aida cruises , carnival cruise lines , costa cruises , cunard line , holland america line , iberocruceros , p&o cruises and princess cruises ; disney cruise line ; msc cruises ; norwegian cruise line and oceania cruises . cruise lines compete with other vacation alternatives such as land-based resort hotels and sightseeing destinations for consum- ers 2019 leisure time . demand for such activities is influ- enced by political and general economic conditions . companies within the vacation market are dependent on consumer discretionary spending . operating strategies our principal operating strategies are to : and employees and protect the environment in which our vessels and organization operate , to better serve our global guest base and grow our business , order to enhance our revenues while continuing to expand and diversify our guest mix through interna- tional guest sourcing , and ensure adequate cash and liquidity , with the overall goal of maximizing our return on invested capital and long-term shareholder value , our brands throughout the world , revitalization of existing ships and the transfer of key innovations across each brand , while expanding our fleet with the new state-of-the-art cruise ships recently delivered and on order , by deploying them into those markets and itineraries that provide opportunities to optimize returns , while continuing our focus on existing key markets , support ongoing operations and initiatives , and the principal industry distribution channel , while enhancing our consumer outreach programs. .
Question: what was the percentage increase in the global guests from 2007 to 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: |
0.58333 | Context:reasonably possible that such matters will be resolved in the next twelve months , but we do not anticipate that the resolution of these matters would result in any material impact on our results of operations or financial position . foreign jurisdictions have statutes of limitations generally ranging from 3 to 5 years . years still open to examination by foreign tax authorities in major jurisdictions include australia ( 2003 onward ) , canada ( 2002 onward ) , france ( 2006 onward ) , germany ( 2005 onward ) , italy ( 2005 onward ) , japan ( 2002 onward ) , puerto rico ( 2005 onward ) , singapore ( 2003 onward ) , switzerland ( 2006 onward ) and the united kingdom ( 2006 onward ) . our tax returns are currently under examination in various foreign jurisdictions . the most significant foreign tax jurisdiction under examination is the united kingdom . it is reasonably possible that such audits will be resolved in the next twelve months , but we do not anticipate that the resolution of these audits would result in any material impact on our results of operations or financial position . 13 . capital stock and earnings per share we are authorized to issue 250 million shares of preferred stock , none of which were issued or outstanding as of december 31 , 2008 . the numerator for both basic and diluted earnings per share is net earnings available to common stockholders . the denominator for basic earnings per share is the weighted average number of common shares outstanding during the period . the denominator for diluted earnings per share is weighted average shares outstanding adjusted for the effect of dilutive stock options and other equity awards . the following is a reconciliation of weighted average shares for the basic and diluted share computations for the years ending december 31 ( in millions ) : .
||2008|2007|2006|
|weighted average shares outstanding for basic net earnings per share|227.3|235.5|243.0|
|effect of dilutive stock options and other equity awards|1.0|2.0|2.4|
|weighted average shares outstanding for diluted net earnings per share|228.3|237.5|245.4|
weighted average shares outstanding for basic net earnings per share 227.3 235.5 243.0 effect of dilutive stock options and other equity awards 1.0 2.0 2.4 weighted average shares outstanding for diluted net earnings per share 228.3 237.5 245.4 for the year ended december 31 , 2008 , an average of 11.2 million options to purchase shares of common stock were not included in the computation of diluted earnings per share as the exercise prices of these options were greater than the average market price of the common stock . for the years ended december 31 , 2007 and 2006 , an average of 3.1 million and 7.6 million options , respectively , were not included . during 2008 , we repurchased approximately 10.8 million shares of our common stock at an average price of $ 68.72 per share for a total cash outlay of $ 737.0 million , including commissions . in april 2008 , we announced that our board of directors authorized a $ 1.25 billion share repurchase program which expires december 31 , 2009 . approximately $ 1.13 billion remains authorized under this plan . 14 . segment data we design , develop , manufacture and market orthopaedic and dental reconstructive implants , spinal implants , trauma products and related surgical products which include surgical supplies and instruments designed to aid in orthopaedic surgical procedures and post-operation rehabilitation . we also provide other healthcare-related services . revenue related to these services currently represents less than 1 percent of our total net sales . we manage operations through three major geographic segments 2013 the americas , which is comprised principally of the united states and includes other north , central and south american markets ; europe , which is comprised principally of europe and includes the middle east and africa ; and asia pacific , which is comprised primarily of japan and includes other asian and pacific markets . this structure is the basis for our reportable segment information discussed below . management evaluates operating segment performance based upon segment operating profit exclusive of operating expenses pertaining to global operations and corporate expenses , share-based compensation expense , settlement , certain claims , acquisition , integration and other expenses , inventory step-up , in-process research and development write-offs and intangible asset amortization expense . global operations include research , development engineering , medical education , brand management , corporate legal , finance , and human resource functions , and u.s . and puerto rico-based manufacturing operations and logistics . intercompany transactions have been eliminated from segment operating profit . management reviews accounts receivable , inventory , property , plant and equipment , goodwill and intangible assets by reportable segment exclusive of u.s and puerto rico-based manufacturing operations and logistics and corporate assets . z i m m e r h o l d i n g s , i n c . 2 0 0 8 f o r m 1 0 - k a n n u a l r e p o r t notes to consolidated financial statements ( continued ) %%transmsg*** transmitting job : c48761 pcn : 058000000 ***%%pcmsg|58 |00011|yes|no|02/24/2009 19:25|0|0|page is valid , no graphics -- color : d| .
Question: % ( % ) change of the dilutive effect from 2006-2008 | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
10.23077 | Context:in emerging markets , such as ghana , india , nigeria and uganda , wireless networks tend to be significantly less advanced than those in the united states , and initial voice networks continue to be deployed in underdeveloped areas . a majority of consumers in these markets still utilize basic wireless services , predominantly on feature phones , while advanced device penetration remains low . in more developed urban locations within these markets , early-stage data network deployments are underway . carriers are focused on completing voice network build-outs while also investing in initial data networks as wireless data usage and smartphone penetration within their customer bases begin to accelerate . in markets with rapidly evolving network technology , such as south africa and most of the countries in latin america where we do business , initial voice networks , for the most part , have already been built out , and carriers are focused on 3g and 4g network build outs . consumers in these regions are increasingly adopting smartphones and other advanced devices , and , as a result , the usage of bandwidth-intensive mobile applications is growing materially . recent spectrum auctions in these rapidly evolving markets have allowed incumbent carriers to accelerate their data network deployments and have also enabled new entrants to begin initial investments in data networks . smartphone penetration and wireless data usage in these markets are growing rapidly , which typically requires that carriers continue to invest in their networks in order to maintain and augment their quality of service . finally , in markets with more mature network technology , such as germany and france , carriers are focused on deploying 4g data networks to account for rapidly increasing wireless data usage among their customer base . with higher smartphone and advanced device penetration and significantly higher per capita data usage , carrier investment in networks is focused on 4g coverage and capacity . we believe that the network technology migration we have seen in the united states , which has led to significantly denser networks and meaningful new business commencements for us over a number of years , will ultimately be replicated in our less advanced international markets . as a result , we expect to be able to leverage our extensive international portfolio of approximately 104470 communications sites and the relationships we have built with our carrier customers to drive sustainable , long-term growth . we have master lease agreements with certain of our tenants that provide for consistent , long-term revenue and reduce the likelihood of churn . our master lease agreements build and augment strong strategic partnerships with our tenants and have significantly reduced colocation cycle times , thereby providing our tenants with the ability to rapidly and efficiently deploy equipment on our sites . property operations new site revenue growth . during the year ended december 31 , 2016 , we grew our portfolio of communications real estate through the acquisition and construction of approximately 45310 sites . in a majority of our asia , emea and latin america markets , the revenue generated from newly acquired or constructed sites resulted in increases in both tenant and pass-through revenues ( such as ground rent or power and fuel costs ) and expenses . we continue to evaluate opportunities to acquire communications real estate portfolios , both domestically and internationally , to determine whether they meet our risk-adjusted hurdle rates and whether we believe we can effectively integrate them into our existing portfolio. .
|new sites ( acquired or constructed )|2016|2015|2014|
|u.s .|65|11595|900|
|asia|43865|2330|1560|
|emea|665|4910|190|
|latin america|715|6535|5800|
property operations expenses . direct operating expenses incurred by our property segments include direct site level expenses and consist primarily of ground rent and power and fuel costs , some or all of which may be passed through to our tenants , as well as property taxes , repairs and maintenance . these segment direct operating expenses exclude all segment and corporate selling , general , administrative and development expenses , which are aggregated into one line item entitled selling , general , administrative and development expense in our consolidated statements of operations . in general , our property segments 2019 selling , general , administrative and development expenses do not significantly increase as a result of adding incremental tenants to our sites and typically increase only modestly year-over-year . as a result , leasing additional space to new tenants on our sites provides significant incremental cash flow . we may , however , incur additional segment selling , general , administrative and development expenses as we increase our presence in our existing markets or expand into new markets . our profit margin growth is therefore positively impacted by the addition of new tenants to our sites but can be temporarily diluted by our development activities. .
Question: what was the ratio of the growth of the communications real estate portfoliosfor the emea to us 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: |
-0.00653 | Context:entergy arkansas , inc . management's financial discussion and analysis results of operations net income 2008 compared to 2007 net income decreased $ 92.0 million primarily due to higher other operation and maintenance expenses , higher depreciation and amortization expenses , and a higher effective income tax rate , partially offset by higher net revenue . the higher other operation and maintenance expenses resulted primarily from the write-off of approximately $ 70.8 million of costs as a result of the december 2008 arkansas court of appeals decision in entergy arkansas' base rate case . the base rate case is discussed in more detail in note 2 to the financial statements . 2007 compared to 2006 net income decreased $ 34.0 million primarily due to higher other operation and maintenance expenses , higher depreciation and amortization expenses , and a higher effective income tax rate . the decrease was partially offset by higher net revenue . net revenue 2008 compared to 2007 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory credits . following is an analysis of the change in net revenue comparing 2008 to 2007 . amount ( in millions ) .
||amount ( in millions )|
|2007 net revenue|$ 1110.6|
|rider revenue|13.6|
|purchased power capacity|4.8|
|volume/weather|-14.6 ( 14.6 )|
|other|3.5|
|2008 net revenue|$ 1117.9|
the rider revenue variance is primarily due to an energy efficiency rider which became effective in november 2007 . the establishment of the rider results in an increase in rider revenue and a corresponding increase in other operation and maintenance expense with no effect on net income . also contributing to the variance was an increase in franchise tax rider revenue as a result of higher retail revenues . the corresponding increase is in taxes other than income taxes , resulting in no effect on net income . the purchased power capacity variance is primarily due to lower reserve equalization expenses . the volume/weather variance is primarily due to the effect of less favorable weather on residential and commercial sales during the billed and unbilled sales periods compared to 2007 and a 2.9% ( 2.9 % ) volume decrease in industrial sales , primarily in the wood industry and the small customer class . billed electricity usage decreased 333 gwh in all sectors . see "critical accounting estimates" below and note 1 to the financial statements for further discussion of the accounting for unbilled revenues. .
Question: what is the percent change in net revenue between 2007 and 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: |
-0.1146 | Context:performance graph the performance graph below shows the five-year cumulative total stockholder return on applied common stock during the period from october 25 , 2009 through october 26 , 2014 . this is compared with the cumulative total return of the standard & poor 2019s 500 stock index and the rdg semiconductor composite index over the same period . the comparison assumes $ 100 was invested on october 25 , 2009 in applied common stock and in each of the foregoing indices and assumes reinvestment of dividends , if any . dollar amounts in the graph are rounded to the nearest whole dollar . the performance shown in the graph represents past performance and should not be considered an indication of future performance . comparison of 5 year cumulative total return* among applied materials , inc. , the s&p 500 index 201cs&p 201d is a registered trademark of standard & poor 2019s financial services llc , a subsidiary of the mcgraw-hill companies , inc. .
||10/25/2009|10/31/2010|10/30/2011|10/28/2012|10/27/2013|10/26/2014|
|applied materials|100.00|97.43|101.85|88.54|151.43|183.29|
|s&p 500 index|100.00|116.52|125.94|145.09|184.52|216.39|
|rdg semiconductor composite index|100.00|121.00|132.42|124.95|163.20|207.93|
dividends during fiscal 2014 , applied 2019s board of directors declared four quarterly cash dividends of $ 0.10 per share each . during fiscal 2013 , applied 2019s board of directors declared three quarterly cash dividends of $ 0.10 per share each and one quarterly cash dividend of $ 0.09 per share . during fiscal 2012 , applied 2019s board of directors declared three quarterly cash dividends of $ 0.09 per share each and one quarterly cash dividend of $ 0.08 . dividends declared during fiscal 2014 , 2013 and 2012 totaled $ 487 million , $ 469 million and $ 438 million , respectively . applied currently anticipates that it will continue to pay cash dividends on a quarterly basis in the future , although the declaration and amount of any future cash dividends are at the discretion of the board of directors and will depend on applied 2019s financial condition , results of operations , capital requirements , business conditions and other factors , as well as a determination that cash dividends are in the best interests of applied 2019s stockholders . $ 100 invested on 10/25/09 in stock or 10/31/09 in index , including reinvestment of dividends . indexes calculated on month-end basis . and the rdg semiconductor composite index 183145 97 102 121 132 10/25/09 10/31/10 10/30/11 10/28/12 10/27/13 10/26/14 applied materials , inc . s&p 500 rdg semiconductor composite .
Question: what is the return on investment for applied materials if the investment occurred in 2009 and it is liquidated in 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: |
2.75 | Context:note 9 : stock based compensation the company has granted stock option and restricted stock unit ( 201crsus 201d ) awards to non-employee directors , officers and other key employees of the company pursuant to the terms of its 2007 omnibus equity compensation plan ( the 201c2007 plan 201d ) . the total aggregate number of shares of common stock that may be issued under the 2007 plan is 15.5 . as of december 31 , 2015 , 8.4 shares were available for grant under the 2007 plan . shares issued under the 2007 plan may be authorized-but-unissued shares of company stock or reacquired shares of company stock , including shares purchased by the company on the open market . the company recognizes compensation expense for stock awards over the vesting period of the award . the following table presents stock-based compensation expense recorded in operation and maintenance expense in the accompanying consolidated statements of operations for the years ended december 31: .
||2015|2014|2013|
|stock options|$ 2|$ 2|$ 3|
|rsus|8|10|9|
|espp|1|1|1|
|stock-based compensation|11|13|13|
|income tax benefit|-4 ( 4 )|-5 ( 5 )|-5 ( 5 )|
|stock-based compensation expense net of tax|$ 7|$ 8|$ 8|
there were no significant stock-based compensation costs capitalized during the years ended december 31 , 2015 , 2014 and 2013 . the cost of services received from employees in exchange for the issuance of stock options and restricted stock awards is measured based on the grant date fair value of the awards issued . the value of stock options and rsus awards at the date of the grant is amortized through expense over the three-year service period . all awards granted in 2015 , 2014 and 2013 are classified as equity . the company receives a tax deduction based on the intrinsic value of the award at the exercise date for stock options and the distribution date for rsus . for each award , throughout the requisite service period , the company recognizes the tax benefits , which have been included in deferred income tax assets , related to compensation costs . the tax deductions in excess of the benefits recorded throughout the requisite service period are recorded to common stockholders 2019 equity or the statement of operations and are presented in the financing section of the consolidated statements of cash flows . the company stratified its grant populations and used historic employee turnover rates to estimate employee forfeitures . the estimated rate is compared to the actual forfeitures at the end of the reporting period and adjusted as necessary . stock options in 2015 , 2014 and 2013 , the company granted non-qualified stock options to certain employees under the 2007 plan . the stock options vest ratably over the three-year service period beginning on january 1 of the year of the grant . these awards have no performance vesting conditions and the grant date fair value is amortized through expense over the requisite service period using the straight-line method and is included in operations and maintenance expense in the accompanying consolidated statements of operations. .
Question: at what tax rate was stock-based compensation taxed at 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: |
1.65517 | Context:table of contents the following discussion of nonoperating income and expense excludes the results of us airways in order to provide a more meaningful year-over-year comparison . interest expense , net of capitalized interest decreased $ 129 million in 2014 from 2013 primarily due to a $ 63 million decrease in special charges recognized year-over-year as further described below , as well as refinancing activities that resulted in $ 65 million less interest expense recognized in 2014 . ( 1 ) in 2014 , american recognized $ 29 million of special charges relating to non-cash interest accretion on bankruptcy settlement obligations . in 2013 , american recognized $ 48 million of special charges relating to post-petition interest expense on unsecured obligations pursuant to the plan and penalty interest related to american 2019s 10.5% ( 10.5 % ) secured notes and 7.50% ( 7.50 % ) senior secured notes . in addition , in 2013 american recorded special charges of $ 44 million for debt extinguishment costs incurred as a result of the repayment of certain aircraft secured indebtedness , including cash interest charges and non-cash write offs of unamortized debt issuance costs . ( 2 ) as a result of the 2013 refinancing activities and the early extinguishment of american 2019s 7.50% ( 7.50 % ) senior secured notes in 2014 , american incurred $ 65 million less interest expense in 2014 as compared to 2013 . other nonoperating expense , net in 2014 consisted of $ 92 million of net foreign currency losses , including a $ 43 million special charge for venezuelan foreign currency losses , and $ 48 million of early debt extinguishment costs related to the prepayment of american 2019s 7.50% ( 7.50 % ) senior secured notes and other indebtedness . the foreign currency losses were driven primarily by the strengthening of the u.s . dollar relative to other currencies during 2014 , principally in the latin american market , including a 48% ( 48 % ) decrease in the value of the venezuelan bolivar and a 14% ( 14 % ) decrease in the value of the brazilian real . other nonoperating expense , net in 2013 consisted principally of net foreign currency losses of $ 55 million and early debt extinguishment charges of $ 29 million . reorganization items , net reorganization items refer to revenues , expenses ( including professional fees ) , realized gains and losses and provisions for losses that are realized or incurred as a direct result of the chapter 11 cases . the following table summarizes the components included in reorganization items , net on american 2019s consolidated statement of operations for the year ended december 31 , 2013 ( in millions ) : .
||2013|
|labor-related deemed claim ( 1 )|$ 1733|
|aircraft and facility financing renegotiations and rejections ( 2 ) ( 3 )|320|
|fair value of conversion discount ( 4 )|218|
|professional fees|199|
|other|170|
|total reorganization items net|$ 2640|
( 1 ) in exchange for employees 2019 contributions to the successful reorganization , including agreeing to reductions in pay and benefits , american agreed in the plan to provide each employee group a deemed claim , which was used to provide a distribution of a portion of the equity of the reorganized entity to those employees . each employee group received a deemed claim amount based upon a portion of the value of cost savings provided by that group through reductions to pay and benefits as well as through certain work rule changes . the total value of this deemed claim was approximately $ 1.7 billion . ( 2 ) amounts include allowed claims ( claims approved by the bankruptcy court ) and estimated allowed claims relating to ( i ) the rejection or modification of financings related to aircraft and ( ii ) entry of orders treated as unsecured claims with respect to facility agreements supporting certain issuances of special facility revenue .
Question: what was the ratio of the 2014 non operating expense related to early debt extinguishment charges to 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: |
0.05055 | Context:american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) 7 . derivative financial instruments under the terms of the credit facility , the company is required to enter into interest rate protection agreements on at least 50% ( 50 % ) of its variable rate debt . under these agreements , the company is exposed to credit risk to the extent that a counterparty fails to meet the terms of a contract . such exposure is limited to the current value of the contract at the time the counterparty fails to perform . the company believes its contracts as of december 31 , 2004 are with credit worthy institutions . as of december 31 , 2004 , the company had two interest rate caps outstanding with an aggregate notional amount of $ 350.0 million ( each at an interest rate of 6.0% ( 6.0 % ) ) that expire in 2006 . as of december 31 , 2003 , the company had three interest rate caps outstanding with an aggregate notional amount of $ 500.0 million ( each at a rate of 5.0% ( 5.0 % ) ) that expired in 2004 . as of december 31 , 2004 and 2003 , there was no fair value associated with any of these interest rate caps . during the year ended december 31 , 2003 , the company recorded an unrealized loss of approximately $ 0.3 million ( net of a tax benefit of approximately $ 0.2 million ) in other comprehensive loss for the change in fair value of cash flow hedges and reclassified $ 5.9 million ( net of a tax benefit of approximately $ 3.2 million ) into results of operations . during the year ended december 31 , 2002 , the company recorded an unrealized loss of approximately $ 9.1 million ( net of a tax benefit of approximately $ 4.9 million ) in other comprehensive loss for the change in fair value of cash flow hedges and reclassified $ 19.5 million ( net of a tax benefit of approximately $ 10.5 million ) into results of operations . hedge ineffectiveness resulted in a gain of approximately $ 1.0 million for the year ended december 31 , 2002 , which is recorded in other expense in the accompanying consolidated statement of operations . the company records the changes in fair value of its derivative instruments that are not accounted for as hedges in other expense . the company did not reclassify any derivative losses into its statement of operations for the year ended december 31 , 2004 and does not anticipate reclassifying any derivative losses into its statement of operations within the next twelve months , as there are no amounts included in other comprehensive loss as of december 31 , 2004 . 8 . commitments and contingencies lease obligations 2014the company leases certain land , office and tower space under operating leases that expire over various terms . many of the leases contain renewal options with specified increases in lease payments upon exercise of the renewal option . escalation clauses present in operating leases , excluding those tied to cpi or other inflation-based indices , are straight-lined over the term of the lease . ( see note 1. ) future minimum rental payments under non-cancelable operating leases include payments for certain renewal periods at the company 2019s option because failure to renew could result in a loss of the applicable tower site and related revenues from tenant leases , thereby making it reasonably assured that the company will renew the lease . such payments in effect at december 31 , 2004 are as follows ( in thousands ) : year ending december 31 .
|2005|$ 106116|
|2006|106319|
|2007|106095|
|2008|106191|
|2009|106214|
|thereafter|1570111|
|total|$ 2101046|
aggregate rent expense ( including the effect of straight-line rent expense ) under operating leases for the years ended december 31 , 2004 , 2003 and 2002 approximated $ 118741000 , $ 113956000 , and $ 109644000 , respectively. .
Question: as of december 2004 what was the percent of the total future minimum rental payments under non-cancelable operating leases due in 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: |
2.0 | Context:o . segment information 2013 ( concluded ) ( 1 ) included in net sales were export sales from the u.s . of $ 246 million , $ 277 million and $ 275 million in 2010 , 2009 and 2008 , respectively . ( 2 ) intra-company sales between segments represented approximately two percent of net sales in 2010 , three percent of net sales in 2009 and one percent of net sales in 2008 . ( 3 ) included in net sales were sales to one customer of $ 1993 million , $ 2053 million and $ 2058 million in 2010 , 2009 and 2008 , respectively . such net sales were included in the following segments : cabinets and related products , plumbing products , decorative architectural products and other specialty products . ( 4 ) net sales from the company 2019s operations in the u.s . were $ 5618 million , $ 5952 million and $ 7150 million in 2010 , 2009 and 2008 , respectively . ( 5 ) net sales , operating ( loss ) profit , property additions and depreciation and amortization expense for 2010 , 2009 and 2008 excluded the results of businesses reported as discontinued operations in 2010 , 2009 and 2008 . ( 6 ) included in segment operating ( loss ) profit for 2010 were impairment charges for goodwill and other intangible assets as follows : plumbing products 2013 $ 1 million ; and installation and other services 2013 $ 720 million . included in segment operating profit ( loss ) for 2009 were impairment charges for goodwill as follows : plumbing products 2013 $ 39 million ; other specialty products 2013 $ 223 million . included in segment operating profit ( loss ) for 2008 were impairment charges for goodwill and other intangible assets as follows : cabinets and related products 2013 $ 59 million ; plumbing products 2013 $ 203 million ; installation and other services 2013 $ 52 million ; and other specialty products 2013 $ 153 million . ( 7 ) general corporate expense , net included those expenses not specifically attributable to the company 2019s segments . ( 8 ) during 2009 , the company recognized a curtailment loss related to the plan to freeze all future benefit accruals beginning january 1 , 2010 under substantially all of the company 2019s domestic qualified and non-qualified defined-benefit pension plans . see note m to the consolidated financial statements . ( 9 ) the charge for litigation settlement in 2009 relates to a business unit in the cabinets and related products segment . the charge for litigation settlement in 2008 relates to a business unit in the installation and other services segment . ( 10 ) see note l to the consolidated financial statements . ( 11 ) long-lived assets of the company 2019s operations in the u.s . and europe were $ 3684 million and $ 617 million , $ 4628 million and $ 690 million , and $ 4887 million and $ 770 million at december 31 , 2010 , 2009 and 2008 , respectively . ( 12 ) segment assets for 2009 and 2008 excluded the assets of businesses reported as discontinued operations . p . other income ( expense ) , net other , net , which is included in other income ( expense ) , net , was as follows , in millions: .
||2010|2009|2008|
|income from cash and cash investments|$ 6|$ 7|$ 22|
|other interest income|1|2|2|
|income from financial investments net ( note e )|9|3|1|
|other items net|-9 ( 9 )|17|-22 ( 22 )|
|total other net|$ 7|$ 29|$ 3|
masco corporation notes to consolidated financial statements 2014 ( continued ) .
Question: what was the percentage increase in the income from financial investments net ( note e ) from 2009 to 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: |
yes | Context:generate cash without additional external financings . free cash flow should be considered in addition to , rather than as a substitute for , cash provided by operating activities . the following table reconciles cash provided by operating activities ( gaap measure ) to free cash flow ( non-gaap measure ) : millions 2014 2013 2012 .
|millions|2014|2013|2012|
|cash provided by operating activities|$ 7385|$ 6823|$ 6161|
|cash used in investing activities|-4249 ( 4249 )|-3405 ( 3405 )|-3633 ( 3633 )|
|dividends paid|-1632 ( 1632 )|-1333 ( 1333 )|-1146 ( 1146 )|
|free cash flow|$ 1504|$ 2085|$ 1382|
2015 outlook f0b7 safety 2013 operating a safe railroad benefits all our constituents : our employees , customers , shareholders and the communities we serve . we will continue using a multi-faceted approach to safety , utilizing technology , risk assessment , quality control , training and employee engagement , and targeted capital investments . we will continue using and expanding the deployment of total safety culture and courage to care throughout our operations , which allows us to identify and implement best practices for employee and operational safety . we will continue our efforts to increase detection of rail defects ; improve or close crossings ; and educate the public and law enforcement agencies about crossing safety through a combination of our own programs ( including risk assessment strategies ) , industry programs and local community activities across our network . f0b7 network operations 2013 in 2015 , we will continue to add resources to support growth , improve service , and replenish our surge capability . f0b7 fuel prices 2013 with the dramatic drop in fuel prices at the end of 2014 , there is even more uncertainty around the projections of fuel prices . we again could see volatile fuel prices during the year , as they are sensitive to global and u.s . domestic demand , refining capacity , geopolitical events , weather conditions and other factors . as prices fluctuate there will be a timing impact on earnings , as our fuel surcharge programs trail fluctuations in fuel price by approximately two months . lower fuel prices could have a positive impact on the economy by increasing consumer discretionary spending that potentially could increase demand for various consumer products that we transport . alternatively , lower fuel prices will likely have a negative impact on other commodities such as coal , frac sand and crude oil shipments . f0b7 capital plan 2013 in 2015 , we expect our capital plan to be approximately $ 4.3 billion , including expenditures for ptc and 218 locomotives . the capital plan may be revised if business conditions warrant or if new laws or regulations affect our ability to generate sufficient returns on these investments . ( see further discussion in this item 7 under liquidity and capital resources 2013 capital plan. ) f0b7 financial expectations 2013 we expect the overall u.s . economy to continue to improve at a moderate pace . one of the biggest uncertainties is the outlook for energy markets , which will bring both challenges and opportunities . on balance , we expect to see positive volume growth for 2015 versus the prior year . in the current environment , we expect continued margin improvement driven by continued pricing opportunities , ongoing productivity initiatives and the ability to leverage our resources as we improve the fluidity of our network. .
Question: is 2014 operating cash flow sufficient to satisfy budgeted 2015 capital expenditures? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
578.0 | Context:2009 vs . 2008 revenues , net of interest expense increased 11% ( 11 % ) or $ 2.7 billion , as markets began to recover in the early part of 2009 , bringing back higher levels of volume activity and higher levels of liquidity , which began to decline again in the third quarter of 2009 . the growth in revenue in the early part of the year was mainly due to a $ 7.1 billion increase in fixed income markets , reflecting strong trading opportunities across all asset classes in the first half of 2009 , and a $ 1.5 billion increase in investment banking revenue primarily from increases in debt and equity underwriting activities reflecting higher transaction volumes from depressed 2008 levels . these increases were offset by a $ 6.4 billion decrease in lending revenue primarily from losses on credit default swap hedges . excluding the 2009 and 2008 cva impact , as indicated in the table below , revenues increased 23% ( 23 % ) or $ 5.5 billion . operating expenses decreased 17% ( 17 % ) , or $ 2.7 billion . excluding the 2008 repositioning and restructuring charges and the 2009 litigation reserve release , operating expenses declined 11% ( 11 % ) or $ 1.6 billion , mainly as a result of headcount reductions and benefits from expense management . provisions for loan losses and for benefits and claims decreased 7% ( 7 % ) or $ 129 million , to $ 1.7 billion , mainly due to lower credit reserve builds and net credit losses , due to an improved credit environment , particularly in the latter part of the year . 2008 vs . 2007 revenues , net of interest expense decreased 2% ( 2 % ) or $ 0.4 billion reflecting the overall difficult market conditions . excluding the 2008 and 2007 cva impact , revenues decreased 3% ( 3 % ) or $ 0.6 billion . the reduction in revenue was primarily due to a decrease in investment banking revenue of $ 2.3 billion to $ 3.2 billion , mainly in debt and equity underwriting , reflecting lower volumes , and a decrease in equity markets revenue of $ 2.3 billion to $ 2.9 billion due to extremely high volatility and reduced levels of activity . these reductions were offset by an increase in fixed income markets of $ 2.9 billion to $ 14.4 billion due to strong performance in interest rates and currencies , and an increase in lending revenue of $ 2.4 billion to $ 4.2 billion mainly from gains on credit default swap hedges . operating expenses decreased by 2% ( 2 % ) or $ 0.4 billion . excluding the 2008 and 2007 repositioning and restructuring charges and the 2007 litigation reserve reversal , operating expenses decreased by 7% ( 7 % ) or $ 1.1 billion driven by headcount reduction and lower performance-based incentives . provisions for credit losses and for benefits and claims increased $ 1.3 billion to $ 1.8 billion mainly from higher credit reserve builds and net credit losses offset by a lower provision for unfunded lending commitments due to deterioration in the credit environment . certain revenues impacting securities and banking items that impacted s&b revenues during 2009 and 2008 are set forth in the table below. .
|in millions of dollars|pretax revenue 2009|pretax revenue 2008|
|private equity and equity investments|$ 201|$ -377 ( 377 )|
|alt-a mortgages ( 1 ) ( 2 )|321|-737 ( 737 )|
|commercial real estate ( cre ) positions ( 1 ) ( 3 )|68|270|
|cva on citi debt liabilities under fair value option|-3974 ( 3974 )|4325|
|cva on derivatives positions excluding monoline insurers|2204|-3292 ( 3292 )|
|total significant revenue items|$ -1180 ( 1180 )|$ 189|
( 1 ) net of hedges . ( 2 ) for these purposes , alt-a mortgage securities are non-agency residential mortgage-backed securities ( rmbs ) where ( i ) the underlying collateral has weighted average fico scores between 680 and 720 or ( ii ) for instances where fico scores are greater than 720 , rmbs have 30% ( 30 % ) or less of the underlying collateral composed of full documentation loans . see 201cmanaging global risk 2014credit risk 2014u.s . consumer mortgage lending . 201d ( 3 ) s&b 2019s commercial real estate exposure is split into three categories of assets : held at fair value ; held- to-maturity/held-for-investment ; and equity . see 201cmanaging global risk 2014credit risk 2014exposure to commercial real estate 201d section for a further discussion . in the table above , 2009 includes a $ 330 million pretax adjustment to the cva balance , which reduced pretax revenues for the year , reflecting a correction of an error related to prior periods . see 201csignificant accounting policies and significant estimates 201d below and notes 1 and 34 to the consolidated financial statements for a further discussion of this adjustment . 2010 outlook the 2010 outlook for s&b will depend on the level of client activity and on macroeconomic conditions , market valuations and volatility , interest rates and other market factors . management of s&b currently expects to maintain client activity throughout 2010 and to operate in market conditions that offer moderate volatility and increased liquidity . operating expenses will benefit from continued re-engineering and expense management initiatives , but will be offset by investments in talent and infrastructure to support growth. .
Question: what was the net change in the private equity and equity investments from 2008 to 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: |
22320.5 | Context:notes to consolidated financial statements 236 jpmorgan chase & co./2010 annual report the table below sets forth the accretable yield activity for the firm 2019s pci consumer loans for the years ended december 31 , 2010 , 2009 and .
|year ended december 31 , ( in millions except ratios )|year ended december 31 , 2010|year ended december 31 , 2009|2008|
|balance january 1|$ 25544|$ 32619|$ 2014|
|washington mutual acquisition|2014|2014|39454|
|accretion into interest income|-3232 ( 3232 )|-4363 ( 4363 )|-1292 ( 1292 )|
|changes in interest rates on variable rate loans|-819 ( 819 )|-4849 ( 4849 )|-5543 ( 5543 )|
|other changes in expected cash flows ( a )|-2396 ( 2396 )|2137|2014|
|balance december 31|$ 19097|$ 25544|$ 32619|
|accretable yield percentage|4.35% ( 4.35 % )|5.14% ( 5.14 % )|5.81% ( 5.81 % )|
( a ) other changes in expected cash flows may vary from period to period as the firm continues to refine its cash flow model and periodically updates model assumptions . for the years ended december 31 , 2010 and 2009 , other changes in expected cash flows were principally driven by changes in prepayment assumptions , as well as reclassification to the nonaccretable difference . such changes are expected to have an insignificant impact on the accretable yield percentage . the factors that most significantly affect estimates of gross cash flows expected to be collected , and accordingly the accretable yield balance , include : ( i ) changes in the benchmark interest rate indices for variable rate products such as option arm and home equity loans ; and ( ii ) changes in prepayment assump- tions . to date , the decrease in the accretable yield percentage has been primarily related to a decrease in interest rates on vari- able-rate loans and , to a lesser extent , extended loan liquida- tion periods . certain events , such as extended loan liquidation periods , affect the timing of expected cash flows but not the amount of cash expected to be received ( i.e. , the accretable yield balance ) . extended loan liquidation periods reduce the accretable yield percentage because the same accretable yield balance is recognized against a higher-than-expected loan balance over a longer-than-expected period of time. .
Question: what was the average balance of total pci consumer loans for the years ended december 31 , 2010 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: |
0.34211 | Context:credits and deductions identified in fiscal 2010 that related to prior periods . these benefits were offset , in part , by unfavorable tax consequences of the patient protection and affordable care act and the health care and education reconciliation act of 2010 . the company expects its effective tax rate in fiscal 2011 , exclusive of any unusual transactions or tax events , to be approximately 34% ( 34 % ) . equity method investment earnings we include our share of the earnings of certain affiliates based on our economic ownership interest in the affiliates . significant affiliates produce and market potato products for retail and foodservice customers . our share of earnings from our equity method investments was $ 22 million ( $ 2 million in the consumer foods segment and $ 20 million in the commercial foods segment ) and $ 24 million ( $ 3 million in the consumer foods segment and $ 21 million in the commercial foods segment ) in fiscal 2010 and 2009 , respectively . equity method investment earnings in the commercial foods segment reflects continued difficult market conditions for our foreign and domestic potato ventures . results of discontinued operations our discontinued operations generated an after-tax loss of $ 22 million in fiscal 2010 and earnings of $ 361 million in fiscal 2009 . in fiscal 2010 , we decided to divest our dehydrated vegetable operations . as a result of this decision , we recognized an after-tax impairment charge of $ 40 million in fiscal 2010 , representing a write- down of the carrying value of the related long-lived assets to fair value , based on the anticipated sales proceeds . in fiscal 2009 , we completed the sale of the trading and merchandising operations and recognized an after-tax gain on the disposition of approximately $ 301 million . in the fourth quarter of fiscal 2009 , we decided to sell certain small foodservice brands . the sale of these brands was completed in june 2009 . we recognized after-tax impairment charges of $ 6 million in fiscal 2009 , in anticipation of this divestiture . earnings per share our diluted earnings per share in fiscal 2010 were $ 1.62 ( including earnings of $ 1.67 per diluted share from continuing operations and a loss of $ 0.05 per diluted share from discontinued operations ) . our diluted earnings per share in fiscal 2009 were $ 2.15 ( including earnings of $ 1.36 per diluted share from continuing operations and $ 0.79 per diluted share from discontinued operations ) see 201citems impacting comparability 201d above as several other significant items affected the comparability of year-over-year results of operations . 2009 vs . 2008 net sales ( $ in millions ) reporting segment fiscal 2009 net sales fiscal 2008 net sales % ( % ) increase .
|reporting segment|fiscal 2009 net sales|fiscal 2008 net sales|% ( % ) increase|
|consumer foods|$ 7979|$ 7400|8% ( 8 % )|
|commercial foods|4447|3848|16% ( 16 % )|
|total|$ 12426|$ 11248|11% ( 11 % )|
overall , our net sales increased $ 1.18 billion to $ 12.43 billion in fiscal 2009 , reflecting improved pricing and mix in the consumer foods segment and increased pricing in the milling and specialty potato operations of the commercial foods segment , as well as an additional week in fiscal 2009 . consumer foods net sales for fiscal 2009 were $ 7.98 billion , an increase of 8% ( 8 % ) compared to fiscal 2008 . results reflected an increase of 7% ( 7 % ) from improved net pricing and product mix and flat volume . volume reflected a benefit of approximately 2% ( 2 % ) in fiscal 2009 due to the inclusion of an additional week of results . the strengthening of the u.s . dollar relative to foreign currencies resulted in a reduction of net sales of approximately 1% ( 1 % ) as compared to fiscal 2008. .
Question: what percentage of fiscal 2008 total net sales was due to commercial foods? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-7.7 | Context:2015 and 2014 was $ 1.5 billion and $ 1.3 billion . the aggregate notional amount of our outstanding foreign currency hedges at december 31 , 2015 and 2014 was $ 4.1 billion and $ 804 million . derivative instruments did not have a material impact on net earnings and comprehensive income during 2015 , 2014 and 2013 . substantially all of our derivatives are designated for hedge accounting . see note 16 for more information on the fair value measurements related to our derivative instruments . recent accounting pronouncements 2013 in may 2014 , the fasb issued a new standard that will change the way we recognize revenue and significantly expand the disclosure requirements for revenue arrangements . on july 9 , 2015 , the fasb approved a one-year deferral of the effective date of the standard to 2018 for public companies , with an option that would permit companies to adopt the standard in 2017 . early adoption prior to 2017 is not permitted . the new standard may be adopted either retrospectively or on a modified retrospective basis whereby the new standard would be applied to new contracts and existing contracts with remaining performance obligations as of the effective date , with a cumulative catch-up adjustment recorded to beginning retained earnings at the effective date for existing contracts with remaining performance obligations . in addition , the fasb is contemplating making additional changes to certain elements of the new standard . we are currently evaluating the methods of adoption allowed by the new standard and the effect the standard is expected to have on our consolidated financial statements and related disclosures . as the new standard will supersede substantially all existing revenue guidance affecting us under gaap , it could impact revenue and cost recognition on thousands of contracts across all our business segments , in addition to our business processes and our information technology systems . as a result , our evaluation of the effect of the new standard will extend over future periods . in september 2015 , the fasb issued a new standard that simplifies the accounting for adjustments made to preliminary amounts recognized in a business combination by eliminating the requirement to retrospectively account for those adjustments . instead , adjustments will be recognized in the period in which the adjustments are determined , including the effect on earnings of any amounts that would have been recorded in previous periods if the accounting had been completed at the acquisition date . we adopted the standard on january 1 , 2016 and will prospectively apply the standard to business combination adjustments identified after the date of adoption . in november 2015 , the fasb issued a new standard that simplifies the presentation of deferred income taxes and requires that deferred tax assets and liabilities , as well as any related valuation allowance , be classified as noncurrent in our consolidated balance sheets . the standard is effective january 1 , 2017 , with early adoption permitted . the standard may be applied either prospectively from the date of adoption or retrospectively to all prior periods presented . we are currently evaluating when we will adopt the standard and the method of adoption . note 2 2013 earnings per share the weighted average number of shares outstanding used to compute earnings per common share were as follows ( in millions ) : .
||2015|2014|2013|
|weighted average common shares outstanding for basic computations|310.3|316.8|320.9|
|weighted average dilutive effect of equity awards|4.4|5.6|5.6|
|weighted average common shares outstanding for diluted computations|314.7|322.4|326.5|
we compute basic and diluted earnings per common share by dividing net earnings by the respective weighted average number of common shares outstanding for the periods presented . our calculation of diluted earnings per common share also includes the dilutive effects for the assumed vesting of outstanding restricted stock units and exercise of outstanding stock options based on the treasury stock method . the computation of diluted earnings per common share excluded 2.4 million stock options for the year ended december 31 , 2013 because their inclusion would have been anti-dilutive , primarily due to their exercise prices exceeding the average market prices of our common stock during the respective periods . there were no anti-dilutive equity awards for the years ended december 31 , 2015 and 2014. .
Question: what was the change in weighted average common shares outstanding for diluted computations from 2014 to 2015 , 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: |
0.22428 | 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 percent of the commercial and similar letters of credit in the u.s to outside the u.s in 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: |
144357.0 | Context:assets ( including trade receivables ) that are in the scope of the update . asu 2016-13 also made amendments to the current impairment model for held-to-maturity and available-for-sale debt securities and certain guarantees . the guidance will become effective for us on january 1 , 2020 . early adoption is permitted for periods beginning on or after january 1 , 2019 . we are evaluating the effect of asu 2016-13 on our consolidated financial statements . note 2 2014 acquisitions the transactions described below were accounted for as business combinations , which requires that we record the assets acquired and liabilities assumed at fair value as of the acquisition date . on october 17 , 2018 , we acquired sicom systems , inc . ( 201csicom 201d ) for total purchase consideration of $ 409.2 million , which we funded with cash on hand and by drawing on our revolving credit facility ( described in 201cnote 8 2014 long-term debt and lines of credit 201d ) . sicom is a provider of end-to-end enterprise , cloud-based software solutions and other technologies to quick service restaurants and food service management companies . sicom 2019s technologies are complementary to our existing xenial solutions , and we believe this acquisition will expand our software-driven payments strategy by enabling us to increase our capabilities and expand on our existing presence in the restaurant vertical market . prior to the acquisition , sicom was indirectly owned by a private equity investment firm where one of our board members is a partner and investor . his direct interest in the transaction was approximately $ 1.1 million , the amount distributed to him based on his investment interest in the fund of the private equity firm that sold sicom to us . based on consideration of all relevant information , the audit committee of our board of directors recommended that the board approve the acquisition of sicom , which it did . the provisional estimated acquisition-date fair values of major classes of assets acquired and liabilities assumed as of december 31 , 2018 , including a reconciliation to the total purchase consideration , were as follows ( in thousands ) : .
|cash and cash equivalents|$ 7540|
|property and equipment|5943|
|identified intangible assets|188294|
|other assets|22278|
|deferred income taxes|-48448 ( 48448 )|
|other liabilities|-31250 ( 31250 )|
|total identifiable net assets|144357|
|goodwill|264844|
|total purchase consideration|$ 409201|
as of december 31 , 2018 , we considered these balances to be provisional because we were still in the process of determining the final purchase consideration , which is subject to adjustment pursuant to the purchase agreement , and gathering and reviewing information to support the valuations of the assets acquired and liabilities assumed . goodwill arising from the acquisition of $ 264.8 million , included in the north america segment , was attributable to expected growth opportunities , an assembled workforce and potential synergies from combining our existing businesses . we expect that approximately $ 50 million of the goodwill from this acquisition will be deductible for income tax purposes . 74 2013 global payments inc . | 2018 form 10-k annual report .
Question: what was the total percentage of costs that came from identifiable 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: |
-24500.0 | Context:through the certegy merger , the company has an obligation to service $ 200 million ( aggregate principal amount ) of unsecured 4.75% ( 4.75 % ) fixed-rate notes due in 2008 . the notes were recorded in purchase accounting at a discount of $ 5.7 million , which is being amortized over the term of the notes . the notes accrue interest at a rate of 4.75% ( 4.75 % ) per year , payable semi-annually in arrears on each march 15 and september 15 . on april 11 , 2005 , fis entered into interest rate swap agreements which have effectively fixed the interest rate at approximately 5.4% ( 5.4 % ) through april 2008 on $ 350 million of the term loan facilities ( or its replacement debt ) and at approximately 5.2% ( 5.2 % ) through april 2007 on an additional $ 350 million of the term loan . the company has designated these interest rate swaps as cash flow hedges in accordance with sfas no . 133 . the estimated fair value of the cash flow hedges results in an asset to the company of $ 4.9 million and $ 5.2 million , as of december 31 , 2006 and december 31 , 2005 , respectively , which is included in the accompanying consolidated balance sheets in other noncurrent assets and as a component of accumulated other comprehensive earnings , net of deferred taxes . a portion of the amount included in accumulated other comprehensive earnings is reclassified into interest expense as a yield adjustment as interest payments are made on the term loan facilities . the company 2019s existing cash flow hedges are highly effective and there is no current impact on earnings due to hedge ineffectiveness . it is the policy of the company to execute such instruments with credit-worthy banks and not to enter into derivative financial instruments for speculative purposes . principal maturities at december 31 , 2006 ( and at december 31 , 2006 after giving effect to the debt refinancing completed on january 18 , 2007 ) for the next five years and thereafter are as follows ( in thousands ) : december 31 , january 18 , 2007 refinancing .
||december 31 2006|january 18 2007 refinancing|
|2007|$ 61661|$ 96161|
|2008|257541|282041|
|2009|68129|145129|
|2010|33586|215586|
|2011|941875|165455|
|thereafter|1646709|2105129|
|total|$ 3009501|$ 3009501|
fidelity national information services , inc . and subsidiaries and affiliates consolidated and combined financial statements notes to consolidated and combined financial statements 2014 ( continued ) .
Question: what was the change , in thousands , of principal maturities due in 2008 after the the debt refinancing completed on january 18 , 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: |
0.16667 | Context:zimmer biomet holdings , inc . and subsidiaries 2017 form 10-k annual report notes to consolidated financial statements ( continued ) substantially complete . the following table summarizes the liabilities related to these integration plans ( in millions ) : employee termination benefits contract terminations total .
||employee termination benefits|contract terminations|total|
|balance december 31 2016|$ 38.1|$ 35.1|$ 73.2|
|additions|12.1|5.2|17.3|
|cash payments|-36.7 ( 36.7 )|-10.4 ( 10.4 )|-47.1 ( 47.1 )|
|foreign currency exchange rate changes|1.3|0.4|1.7|
|balance december 31 2017|$ 14.8|$ 30.3|$ 45.1|
we have also recognized other employee termination benefits related to ldr , other acquisitions and our operational excellence initiatives . dedicated project personnel expenses include the salary , benefits , travel expenses and other costs directly associated with employees who are 100 percent dedicated to our integration of acquired businesses , employees who have been notified of termination , but are continuing to work on transferring their responsibilities and employees working on our quality enhancement and remediation efforts and operational excellence initiatives . relocated facilities expenses are the moving costs , lease expenses and other facility costs incurred during the relocation period in connection with relocating certain facilities . certain litigation matters relate to net expenses recognized during the year for the estimated or actual settlement of certain pending litigation and similar claims , including matters where we recognized income from a settlement on more favorable terms than our previous estimate , or we reduced our estimate of a previously recorded contingent liability . these litigation matters have included royalty disputes , patent litigation matters , product liability litigation matters and commercial litigation matters . contract termination costs relate to terminated agreements in connection with the integration of acquired companies and changes to our distribution model as part of business restructuring and operational excellence initiatives . the terminated contracts primarily relate to sales agents and distribution agreements . information technology integration costs are non- capitalizable costs incurred related to integrating information technology platforms of acquired companies or other significant software implementations as part of our quality and operational excellence initiatives . as part of the biomet merger , we recognized $ 209.0 million of intangible assets for in-process research and development ( 201cipr&d 201d ) projects . during 2017 and 2016 , we recorded impairment losses of $ 18.8 million and $ 30.0 million , respectively , related to these ipr&d intangible assets . the impairments were primarily due to the termination of certain ipr&d projects . we also recognized $ 479.0 million of intangible assets for trademarks that we designated as having an indefinite life . during 2017 , we reclassified one of these trademarks to a finite life asset which resulted in an impairment of $ 8.0 million . loss/impairment on disposal of assets relates to assets that we have sold or intend to sell , or for which the economic useful life of the asset has been significantly reduced due to integration or our quality and operational excellence initiatives . contingent consideration adjustments represent the changes in the fair value of contingent consideration obligations to be paid to the prior owners of acquired businesses . certain r&d agreements relate to agreements with upfront payments to obtain intellectual property to be used in r&d projects that have no alternative future use in other projects . cash and cash equivalents 2013 we consider all highly liquid investments with an original maturity of three months or less to be cash equivalents . the carrying amounts reported in the balance sheet for cash and cash equivalents are valued at cost , which approximates their fair value . accounts receivable 2013 accounts receivable consists of trade and other miscellaneous receivables . we grant credit to customers in the normal course of business and maintain an allowance for doubtful accounts for potential credit losses . we determine the allowance for doubtful accounts by geographic market and take into consideration historical credit experience , creditworthiness of the customer and other pertinent information . we make concerted efforts to collect all accounts receivable , but sometimes we have to write-off the account against the allowance when we determine the account is uncollectible . the allowance for doubtful accounts was $ 60.2 million and $ 51.6 million as of december 31 , 2017 and 2016 , respectively . inventories 2013 inventories are stated at the lower of cost or market , with cost determined on a first-in first-out basis . property , plant and equipment 2013 property , plant and equipment is carried at cost less accumulated depreciation . depreciation is computed using the straight-line method based on estimated useful lives of ten to forty years for buildings and improvements and three to eight years for machinery and equipment . maintenance and repairs are expensed as incurred . we review property , plant and equipment for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable . an impairment loss would be recognized when estimated future undiscounted cash flows relating to the asset are less than its carrying amount . an impairment loss is measured as the amount by which the carrying amount of an asset exceeds its fair value . software costs 2013 we capitalize certain computer software and software development costs incurred in connection with developing or obtaining computer software for internal use when both the preliminary project stage is completed and it is probable that the software will be used as intended . capitalized software costs generally include external direct costs of materials and services utilized in developing or obtaining computer software and compensation and related .
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5377.65957 | Context:2015 compared to 2014 when compared to 2014 , costs of revenue in 2015 increased $ 41 million . this increase included a constant currency increase in expenses of approximately $ 238 million , or 8.9% ( 8.9 % ) , partially offset by a positive impact of approximately $ 197 million from the effects of foreign currency fluctuations . the constant currency growth was comprised of a $ 71 million increase in commercial solutions , which included the impact from the encore acquisition which closed in july 2014 , a $ 146 million increase in research & development solutions , which included the incremental impact from the businesses that quest contributed to q2 solutions , and a $ 21 million increase in integrated engagement services . the decrease in costs of revenue as a percent of revenues for 2015 was primarily as a result of an improvement in constant currency profit margin in the commercial solutions , research & development solutions and integrated engagement services segments ( as more fully described in the segment discussion later in this section ) . for 2015 , this constant currency profit margin expansion was partially offset by the effect from a higher proportion of consolidated revenues being contributed by our lower margin integrated engagement services segment when compared to 2014 as well as a negative impact from foreign currency fluctuations . selling , general and administrative expenses , exclusive of depreciation and amortization .
|( dollars in millions )|year ended december 31 , 2016|year ended december 31 , 2015|year ended december 31 , 2014|
|selling general and administrative expenses|$ 1011|$ 815|$ 781|
|% ( % ) of revenues|18.8% ( 18.8 % )|18.8% ( 18.8 % )|18.8% ( 18.8 % )|
2016 compared to 2015 the $ 196 million increase in selling , general and administrative expenses in 2016 included a constant currency increase of $ 215 million , or 26.4% ( 26.4 % ) , partially offset by a positive impact of approximately $ 19 million from the effects of foreign currency fluctuations . the constant currency growth was comprised of a $ 151 million increase in commercial solutions , which includes $ 158 million from the merger with ims health , partially offset by a decline in the legacy service offerings , a $ 32 million increase in research & development solutions , which includes the incremental impact from the businesses that quest contributed to q2 solutions , a $ 3 million increase in integrated engagement services , and a $ 29 million increase in general corporate and unallocated expenses , which includes $ 37 million from the merger with ims health . the constant currency increase in general corporate and unallocated expenses in 2016 was primarily due to higher stock-based compensation expense . 2015 compared to 2014 the $ 34 million increase in selling , general and administrative expenses in 2015 included a constant currency increase of $ 74 million , or 9.5% ( 9.5 % ) , partially offset by a positive impact of approximately $ 42 million from the effects of foreign currency fluctuations . the constant currency growth was comprised of a $ 14 million increase in commercial solutions , which included the impact from the encore acquisition which closed in july 2014 , a $ 40 million increase in research & development solutions , which included the incremental impact from the businesses that quest contributed to q2 solutions , a $ 4 million increase in integrated engagement services , and a $ 14 million increase in general corporate and unallocated expenses . the constant currency increase in general corporate and unallocated expenses in 2015 was primarily due to higher stock-based compensation expense and costs associated with the q2 solutions transaction. .
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89.65517 | Context:devon energy corporation and subsidiaries notes to consolidated financial statements 2013 ( continued ) proved undeveloped reserves the following table presents the changes in devon 2019s total proved undeveloped reserves during 2013 ( in mmboe ) . .
||u.s .|canada|total|
|proved undeveloped reserves as of december 31 2012|407|433|840|
|extensions and discoveries|57|38|95|
|revisions due to prices|1|-10 ( 10 )|-9 ( 9 )|
|revisions other than price|-91 ( 91 )|13|-78 ( 78 )|
|conversion to proved developed reserves|-116 ( 116 )|-31 ( 31 )|-147 ( 147 )|
|proved undeveloped reserves as of december 31 2013|258|443|701|
at december 31 , 2013 , devon had 701 mmboe of proved undeveloped reserves . this represents a 17 percent decrease as compared to 2012 and represents 24 percent of total proved reserves . drilling and development activities increased devon 2019s proved undeveloped reserves 95 mmboe and resulted in the conversion of 147 mmboe , or 18 percent , of the 2012 proved undeveloped reserves to proved developed reserves . costs incurred related to the development and conversion of devon 2019s proved undeveloped reserves were $ 1.9 billion for 2013 . additionally , revisions other than price decreased devon 2019s proved undeveloped reserves 78 mmboe primarily due to evaluations of certain u.s . onshore dry-gas areas , which devon does not expect to develop in the next five years . the largest revisions relate to the dry-gas areas in the cana-woodford shale in western oklahoma , carthage in east texas and the barnett shale in north texas . a significant amount of devon 2019s proved undeveloped reserves at the end of 2013 related to its jackfish operations . at december 31 , 2013 and 2012 , devon 2019s jackfish proved undeveloped reserves were 441 mmboe and 429 mmboe , respectively . development schedules for the jackfish reserves are primarily controlled by the need to keep the processing plants at their 35000 barrel daily facility capacity . processing plant capacity is controlled by factors such as total steam processing capacity , steam-oil ratios and air quality discharge permits . as a result , these reserves are classified as proved undeveloped for more than five years . currently , the development schedule for these reserves extends though the year 2031 . price revisions 2013 2013 reserves increased 94 mmboe primarily due to higher gas prices . of this increase , 43 mmboe related to the barnett shale and 19 mmboe related to the rocky mountain area . 2012 2013 reserves decreased 171 mmboe primarily due to lower gas prices . of this decrease , 100 mmboe related to the barnett shale and 25 mmboe related to the rocky mountain area . 2011 2013 reserves decreased 21 mmboe due to lower gas prices and higher oil prices . the higher oil prices increased devon 2019s canadian royalty burden , which reduced devon 2019s oil reserves . revisions other than price total revisions other than price for 2013 , 2012 and 2011 primarily related to devon 2019s evaluation of certain dry gas regions , with the largest revisions being made in the cana-woodford shale , barnett shale and carthage .
Question: what percentage of total revisions were not related to prices? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
16923076.92308 | Context:changes in our performance retention awards during 2009 were as follows : shares ( thous. ) weighted-average grant-date fair value .
||shares ( thous. )|weighted-averagegrant-date fair value|
|nonvested at january 1 2009|873|$ 50.70|
|granted|449|47.28|
|vested|-240 ( 240 )|43.23|
|forfeited|-22 ( 22 )|53.86|
|nonvested at december 31 2009|1060|$ 50.88|
at december 31 , 2009 , there was $ 22 million of total unrecognized compensation expense related to nonvested performance retention awards , which is expected to be recognized over a weighted-average period of 1.3 years . a portion of this expense is subject to achievement of the roic levels established for the performance stock unit grants . 5 . retirement plans pension and other postretirement benefits pension plans 2013 we provide defined benefit retirement income to eligible non-union employees through qualified and non-qualified ( supplemental ) pension plans . qualified and non-qualified pension benefits are based on years of service and the highest compensation during the latest years of employment , with specific reductions made for early retirements . other postretirement benefits ( opeb ) 2013 we provide defined contribution medical and life insurance benefits for eligible retirees . these benefits are funded as medical claims and life insurance premiums are plan amendment effective january 1 , 2010 , medicare-eligible retirees who are enrolled in the union pacific retiree medical program will receive a contribution to a health reimbursement account , which can be used to pay eligible out-of-pocket medical expenses . the impact of the plan amendment is reflected in the projected benefit obligation ( pbo ) at december 31 , 2009 . funded status we are required by gaap to separately recognize the overfunded or underfunded status of our pension and opeb plans as an asset or liability . the funded status represents the difference between the pbo and the fair value of the plan assets . the pbo is the present value of benefits earned to date by plan participants , including the effect of assumed future salary increases . the pbo of the opeb plan is equal to the accumulated benefit obligation , as the present value of the opeb liabilities is not affected by salary increases . plan assets are measured at fair value . we use a december 31 measurement date for plan assets and obligations for all our retirement plans. .
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5.0 | Context:company stock performance the following graph shows a five-year comparison of cumulative total shareholder return , calculated on a dividend reinvested basis , for the company , the s&p 500 composite index , the s&p computer hardware index , and the dow jones u.s . technology index . the graph assumes $ 100 was invested in each of the company 2019s common stock , the s&p 500 composite index , the s&p computer hardware index , and the dow jones u.s . technology index as of the market close on september 30 , 2007 . data points on the graph are annual . note that historic stock price performance is not necessarily indicative of future stock price performance . sep-11sep-10sep-09sep-08sep-07 sep-12 apple inc . s&p 500 s&p computer hardware dow jones us technology comparison of 5 year cumulative total return* among apple inc. , the s&p 500 index , the s&p computer hardware index , and the dow jones us technology index *$ 100 invested on 9/30/07 in stock or index , including reinvestment of dividends . fiscal year ending september 30 . copyright a9 2012 s&p , a division of the mcgraw-hill companies inc . all rights reserved . september 30 , september 30 , september 30 , september 30 , september 30 , september 30 .
||september 30 2007|september 30 2008|september 30 2009|september 30 2010|september 30 2011|september 30 2012|
|apple inc .|$ 100|$ 74|$ 121|$ 185|$ 248|$ 437|
|s&p 500|$ 100|$ 78|$ 73|$ 80|$ 81|$ 105|
|s&p computer hardware|$ 100|$ 84|$ 99|$ 118|$ 134|$ 214|
|dow jones us technology|$ 100|$ 76|$ 85|$ 95|$ 98|$ 127|
.
Question: what was the cumulative total return on the s&p 500 between september 30 2007 and september 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: |
29812500.0 | Context:page 59 of 94 notes to consolidated financial statements ball corporation and subsidiaries 13 . debt and interest costs ( continued ) long-term debt obligations outstanding at december 31 , 2007 , have maturities of $ 127.1 million , $ 160 million , $ 388.4 million , $ 625.1 million and $ 550.3 million for the years ending december 31 , 2008 through 2012 , respectively , and $ 456.1 million thereafter . ball provides letters of credit in the ordinary course of business to secure liabilities recorded in connection with industrial development revenue bonds and certain self-insurance arrangements . letters of credit outstanding at december 31 , 2007 and 2006 , were $ 41 million and $ 52.4 million , respectively . the notes payable and senior credit facilities are guaranteed on a full , unconditional and joint and several basis by certain of the company 2019s domestic wholly owned subsidiaries . certain foreign denominated tranches of the senior credit facilities are similarly guaranteed by certain of the company 2019s wholly owned foreign subsidiaries . note 22 contains further details as well as condensed , consolidating financial information for the company , segregating the guarantor subsidiaries and non-guarantor subsidiaries . the company was not in default of any loan agreement at december 31 , 2007 , and has met all debt payment obligations . the u.s . note agreements , bank credit agreement and industrial development revenue bond agreements contain certain restrictions relating to dividend payments , share repurchases , investments , financial ratios , guarantees and the incurrence of additional indebtedness . on march 27 , 2006 , ball expanded its senior secured credit facilities with the addition of a $ 500 million term d loan facility due in installments through october 2011 . also on march 27 , 2006 , ball issued at a price of 99.799 percent $ 450 million of 6.625% ( 6.625 % ) senior notes ( effective yield to maturity of 6.65 percent ) due in march 2018 . the proceeds from these financings were used to refinance existing u.s . can debt with ball corporation debt at lower interest rates , acquire certain north american plastic container net assets from alcan and reduce seasonal working capital debt . ( see note 3 for further details of the acquisitions. ) on october 13 , 2005 , ball refinanced its senior secured credit facilities to extend debt maturities at lower interest rate spreads and provide the company with additional borrowing capacity for future growth . during the third and fourth quarters of 2005 , ball redeemed its 7.75% ( 7.75 % ) senior notes due in august 2006 . the refinancing and senior note redemptions resulted in a debt refinancing charge of $ 19.3 million ( $ 12.3 million after tax ) for the related call premium and unamortized debt issuance costs . a summary of total interest cost paid and accrued follows: .
|( $ in millions )|2007|2006|2005|
|interest costs before refinancing costs|$ 155.8|$ 142.5|$ 102.4|
|debt refinancing costs|2013|2013|19.3|
|total interest costs|155.8|142.5|121.7|
|amounts capitalized|-6.4 ( 6.4 )|-8.1 ( 8.1 )|-5.3 ( 5.3 )|
|interest expense|$ 149.4|$ 134.4|$ 116.4|
|interest paid during the year ( a )|$ 153.9|$ 125.4|$ 138.5|
( a ) includes $ 6.6 million paid in 2005 in connection with the redemption of the company 2019s senior and senior subordinated notes. .
Question: what are the expected annual cash interest costs for the 6.625% ( 6.625 % ) senior 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: |
0.40423 | Context:item 7 . management 2019s discussion and analysis of financial condition and results of operations we are an international energy company with operations in the u.s. , canada , africa , the middle east and europe . our operations are organized into three reportable segments : 2022 e&p which explores for , produces and markets liquid hydrocarbons and natural gas on a worldwide basis . 2022 osm which mines , extracts and transports bitumen from oil sands deposits in alberta , canada , and upgrades the bitumen to produce and market synthetic crude oil and vacuum gas oil . 2022 ig which produces and markets products manufactured from natural gas , such as lng and methanol , in e.g . certain sections of management 2019s discussion and analysis of financial condition and results of operations include forward- looking statements concerning trends or events potentially affecting our business . these statements typically contain words such as "anticipates" "believes" "estimates" "expects" "targets" "plans" "projects" "could" "may" "should" "would" or similar words indicating that future outcomes are uncertain . in accordance with "safe harbor" provisions of the private securities litigation reform act of 1995 , these statements are accompanied by cautionary language identifying important factors , though not necessarily all such factors , which could cause future outcomes to differ materially from those set forth in forward-looking statements . for additional risk factors affecting our business , see item 1a . risk factors in this annual report on form 10-k . management 2019s discussion and analysis of financial condition and results of operations should be read in conjunction with the information under item 1 . business , item 1a . risk factors and item 8 . financial statements and supplementary data found in this annual report on form 10-k . spin-off downstream business on june 30 , 2011 , the spin-off of marathon 2019s downstream business was completed , creating two independent energy companies : marathon oil and mpc . marathon stockholders at the close of business on the record date of june 27 , 2011 received one share of mpc common stock for every two shares of marathon common stock held . a private letter tax ruling received in june 2011 from the irs affirmed the tax-free nature of the spin-off . activities related to the downstream business have been treated as discontinued operations in 2011 and 2010 ( see item 8 . financial statements and supplementary data 2013 note 3 to the consolidated financial statements for additional information ) . overview 2013 market conditions exploration and production prevailing prices for the various grades of crude oil and natural gas that we produce significantly impact our revenues and cash flows . the following table lists benchmark crude oil and natural gas price annual averages for the past three years. .
|benchmark|2012|2011|2010|
|wti crude oil ( dollars per bbl )|$ 94.15|$ 95.11|$ 79.61|
|brent ( europe ) crude oil ( dollars per bbl )|$ 111.65|$ 111.26|$ 79.51|
|henry hub natural gas ( dollars per mmbtu ) ( a )|$ 2.79|$ 4.04|$ 4.39|
henry hub natural gas ( dollars per mmbtu ) ( a ) $ 2.79 $ 4.04 $ 4.39 ( a ) settlement date average . liquid hydrocarbon 2013 prices of crude oil have been volatile in recent years , but less so when comparing annual averages for 2012 and 2011 . in 2011 , crude prices increased over 2010 levels , with increases in brent averages outstripping those in wti . the quality , location and composition of our liquid hydrocarbon production mix will cause our u.s . liquid hydrocarbon realizations to differ from the wti benchmark . in 2012 , 2011 and 2010 , the percentage of our u.s . crude oil and condensate production that was sour averaged 37 percent , 58 percent and 68 percent . sour crude contains more sulfur and tends to be heavier than light sweet crude oil so that refining it is more costly and produces lower value products ; therefore , sour crude is considered of lower quality and typically sells at a discount to wti . the percentage of our u.s . crude and condensate production that is sour has been decreasing as onshore production from the eagle ford and bakken shale plays increases and production from the gulf of mexico declines . in recent years , crude oil sold along the u.s . gulf coast has been priced at a premium to wti because the louisiana light sweet benchmark has been tracking brent , while production from inland areas farther from large refineries has been at a discount to wti . ngls were 10 percent , 7 percent and 6 percent of our u.s . liquid hydrocarbon sales in 2012 , 2011 and 2010 . in 2012 , our sales of ngls increased due to our development of u.s . unconventional liquids-rich plays. .
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940.0 | Context:consolidated income statement review our consolidated income statement is presented in item 8 of this report . net income for 2012 was $ 3.0 billion compared with $ 3.1 billion for 2011 . revenue growth of 8 percent and a decline in the provision for credit losses were more than offset by a 16 percent increase in noninterest expense in 2012 compared to 2011 . further detail is included in the net interest income , noninterest income , provision for credit losses and noninterest expense portions of this consolidated income statement review . net interest income table 2 : net interest income and net interest margin year ended december 31 dollars in millions 2012 2011 .
|year ended december 31dollars in millions|2012|2011|
|net interest income|$ 9640|$ 8700|
|net interest margin|3.94% ( 3.94 % )|3.92% ( 3.92 % )|
changes in net interest income and margin result from the interaction of the volume and composition of interest-earning assets and related yields , interest-bearing liabilities and related rates paid , and noninterest-bearing sources of funding . see the statistical information ( unaudited ) 2013 average consolidated balance sheet and net interest analysis and analysis of year-to-year changes in net interest income in item 8 of this report and the discussion of purchase accounting accretion of purchased impaired loans in the consolidated balance sheet review in this item 7 for additional information . the increase in net interest income in 2012 compared with 2011 was primarily due to the impact of the rbc bank ( usa ) acquisition , organic loan growth and lower funding costs . purchase accounting accretion remained stable at $ 1.1 billion in both periods . the net interest margin was 3.94% ( 3.94 % ) for 2012 and 3.92% ( 3.92 % ) for 2011 . the increase in the comparison was primarily due to a decrease in the weighted-average rate accrued on total interest- bearing liabilities of 29 basis points , largely offset by a 21 basis point decrease on the yield on total interest-earning assets . the decrease in the rate on interest-bearing liabilities was primarily due to the runoff of maturing retail certificates of deposit and the redemption of additional trust preferred and hybrid capital securities during 2012 , in addition to an increase in fhlb borrowings and commercial paper as lower-cost funding sources . the decrease in the yield on interest-earning assets was primarily due to lower rates on new loan volume and lower yields on new securities in the current low rate environment . with respect to the first quarter of 2013 , we expect net interest income to decline by two to three percent compared to fourth quarter 2012 net interest income of $ 2.4 billion , due to a decrease in purchase accounting accretion of up to $ 50 to $ 60 million , including lower expected cash recoveries . for the full year 2013 , we expect net interest income to decrease compared with 2012 , assuming an expected decline in purchase accounting accretion of approximately $ 400 million , while core net interest income is expected to increase in the year-over-year comparison . we believe our net interest margin will come under pressure in 2013 , due to the expected decline in purchase accounting accretion and assuming that the current low rate environment continues . noninterest income noninterest income totaled $ 5.9 billion for 2012 and $ 5.6 billion for 2011 . the overall increase in the comparison was primarily due to an increase in residential mortgage loan sales revenue driven by higher loan origination volume , gains on sales of visa class b common shares and higher corporate service fees , largely offset by higher provision for residential mortgage repurchase obligations . asset management revenue , including blackrock , totaled $ 1.2 billion in 2012 compared with $ 1.1 billion in 2011 . this increase was primarily due to higher earnings from our blackrock investment . discretionary assets under management increased to $ 112 billion at december 31 , 2012 compared with $ 107 billion at december 31 , 2011 driven by stronger average equity markets , positive net flows and strong sales performance . for 2012 , consumer services fees were $ 1.1 billion compared with $ 1.2 billion in 2011 . the decline reflected the regulatory impact of lower interchange fees on debit card transactions partially offset by customer growth . as further discussed in the retail banking portion of the business segments review section of this item 7 , the dodd-frank limits on interchange rates were effective october 1 , 2011 and had a negative impact on revenue of approximately $ 314 million in 2012 and $ 75 million in 2011 . this impact was partially offset by higher volumes of merchant , customer credit card and debit card transactions and the impact of the rbc bank ( usa ) acquisition . corporate services revenue increased by $ .3 billion , or 30 percent , to $ 1.2 billion in 2012 compared with $ .9 billion in 2011 due to higher commercial mortgage servicing revenue and higher merger and acquisition advisory fees in 2012 . the major components of corporate services revenue are treasury management revenue , corporate finance fees , including revenue from capital markets-related products and services , and commercial mortgage servicing revenue , including commercial mortgage banking activities . see the product revenue portion of this consolidated income statement review for further detail . the pnc financial services group , inc . 2013 form 10-k 39 .
Question: what was the change in millions in net interest income 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: |
35.6 | Context:entergy arkansas , inc . and subsidiaries management 2019s financial discussion and analysis plan to spin off the utility 2019s transmission business see the 201cplan to spin off the utility 2019s transmission business 201d section of entergy corporation and subsidiaries management 2019s financial discussion and analysis for a discussion of this matter , including the planned retirement of debt and preferred securities . results of operations net income 2011 compared to 2010 net income decreased $ 7.7 million primarily due to a higher effective income tax rate , lower other income , and higher other operation and maintenance expenses , substantially offset by higher net revenue , lower depreciation and amortization expenses , and lower interest expense . 2010 compared to 2009 net income increased $ 105.7 million primarily due to higher net revenue , a lower effective income tax rate , higher other income , and lower depreciation and amortization expenses , partially offset by higher other operation and maintenance expenses . net revenue 2011 compared to 2010 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges ( credits ) . following is an analysis of the change in net revenue comparing 2011 to 2010 . amount ( in millions ) .
||amount ( in millions )|
|2010 net revenue|$ 1216.7|
|retail electric price|31.0|
|ano decommissioning trust|26.4|
|transmission revenue|13.1|
|volume/weather|-15.9 ( 15.9 )|
|net wholesale revenue|-11.9 ( 11.9 )|
|capacity acquisition recovery|-10.3 ( 10.3 )|
|other|3.2|
|2011 net revenue|$ 1252.3|
the retail electric price variance is primarily due to a base rate increase effective july 2010 . see note 2 to the financial statements for more discussion of the rate case settlement . the ano decommissioning trust variance is primarily related to the deferral of investment gains from the ano 1 and 2 decommissioning trust in 2010 in accordance with regulatory treatment . the gains resulted in an increase in 2010 in interest and investment income and a corresponding increase in regulatory charges with no effect on net income. .
Question: what was the percent of the change in the net revenue in 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: |
0.55556 | Context:entergy corporation and subsidiaries management 2019s financial discussion and analysis the miso deferral variance is primarily due to the deferral in 2014 of non-fuel miso-related charges , as approved by the lpsc and the mpsc . the deferral of non-fuel miso-related charges is partially offset in other operation and maintenance expenses . see note 2 to the financial statements for further discussion of the recovery of non-fuel miso-related charges . the waterford 3 replacement steam generator provision is due to a regulatory charge of approximately $ 32 million recorded in 2015 related to the uncertainty associated with the resolution of the waterford 3 replacement steam generator project . see note 2 to the financial statements for a discussion of the waterford 3 replacement steam generator prudence review proceeding . entergy wholesale commodities following is an analysis of the change in net revenue comparing 2015 to 2014 . amount ( in millions ) .
||amount ( in millions )|
|2014 net revenue|$ 2224|
|nuclear realized price changes|-310 ( 310 )|
|vermont yankee shutdown in december 2014|-305 ( 305 )|
|nuclear volume excluding vermont yankee effect|20|
|other|37|
|2015 net revenue|$ 1666|
as shown in the table above , net revenue for entergy wholesale commodities decreased by approximately $ 558 million in 2015 primarily due to : 2022 lower realized wholesale energy prices , primarily due to significantly higher northeast market power prices in 2014 , and lower capacity prices in 2015 ; and 2022 a decrease in net revenue as a result of vermont yankee ceasing power production in december 2014 . the decrease was partially offset by higher volume in the entergy wholesale commodities nuclear fleet , excluding vermont yankee , resulting from fewer refueling outage days in 2015 as compared to 2014 , partially offset by more unplanned outage days in 2015 as compared to 2014. .
Question: what percent of the decline in net revenue is attributed to the variance in nuclear realized 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: |
1.801 | Context:measurement point december 31 booking holdings nasdaq composite index s&p 500 rdg internet composite .
|measurement pointdecember 31|booking holdings inc .|nasdaqcomposite index|s&p 500index|rdg internetcomposite|
|2012|100.00|100.00|100.00|100.00|
|2013|187.37|141.63|132.39|163.02|
|2014|183.79|162.09|150.51|158.81|
|2015|205.51|173.33|152.59|224.05|
|2016|236.31|187.19|170.84|235.33|
|2017|280.10|242.29|208.14|338.52|
sales of unregistered securities between october 1 , 2017 and december 31 , 2017 , we issued 103343 shares of our common stock in connection with the conversion of $ 196.1 million principal amount of our 1.0% ( 1.0 % ) convertible senior notes due 2018 . the conversions were effected in accordance with the indenture , which provides that the principal amount of converted notes be paid in cash and the conversion premium be paid in cash and/or shares of common stock at our election . in each case , we chose to pay the conversion premium in shares of common stock ( fractional shares are paid in cash ) . the issuances of the shares were not registered under the securities act of 1933 , as amended ( the "act" ) pursuant to section 3 ( a ) ( 9 ) of the act. .
Question: what was the percentage change in booking holdings inc . for the five years ended 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: |
0.16218 | Context:as of december 31 , 2017 , the future minimum payments due under the lease financing obligation were as follows ( in thousands ) : years ending december 31 .
|2018|$ 6113|
|2019|6293|
|2020|6477|
|2021|6674|
|2022|6871|
|thereafter|5264|
|total payments|37692|
|less : interest and land lease expense|-21730 ( 21730 )|
|total payments under facility financing obligations|15962|
|property reverting to landlord|23630|
|present value of obligation|39592|
|less : current portion|-1919 ( 1919 )|
|lease financing obligations non-current|$ 37673|
purchase commitments we outsource most of our manufacturing and supply chain management operations to third-party contract manufacturers , who procure components and assemble products on our behalf based on our forecasts in order to reduce manufacturing lead times and ensure adequate component supply . we issue purchase orders to our contract manufacturers for finished product and a significant portion of these orders consist of firm non-cancellable commitments . in addition , we purchase strategic component inventory from certain suppliers under purchase commitments that in some cases are non-cancellable , including integrated circuits , which are consigned to our contract manufacturers . as of december 31 , 2017 , we had non-cancellable purchase commitments of $ 195.1 million , of which $ 147.9 million was to our contract manufacturers and suppliers . in addition , we have provided deposits to secure our obligations to purchase inventory . we had $ 36.9 million and $ 63.1 million in deposits as of december 31 , 2017 and 2016 , respectively . these deposits are classified in 'prepaid expenses and other current assets' and 'other assets' in our accompanying consolidated balance sheets . guarantees we have entered into agreements with some of our direct customers and channel partners that contain indemnification provisions relating to potential situations where claims could be alleged that our products infringe the intellectual property rights of a third party . we have at our option and expense the ability to repair any infringement , replace product with a non-infringing equivalent-in-function product or refund our customers all or a portion of the value of the product . other guarantees or indemnification agreements include guarantees of product and service performance and standby letters of credit for leased facilities and corporate credit cards . we have not recorded a liability related to these indemnification and guarantee provisions and our guarantee and indemnification arrangements have not had any significant impact on our consolidated financial statements to date . legal proceedings optumsoft , inc . matters on april 4 , 2014 , optumsoft filed a lawsuit against us in the superior court of california , santa clara county titled optumsoft , inc . v . arista networks , inc. , in which it asserts ( i ) ownership of certain components of our eos network operating system pursuant to the terms of a 2004 agreement between the companies ; and ( ii ) breaches of certain confidentiality and use restrictions in that agreement . under the terms of the 2004 agreement , optumsoft provided us with a non-exclusive , irrevocable , royalty-free license to software delivered by optumsoft comprising a software tool used to develop certain components of eos and a runtime library that is incorporated .
Question: what percent of lease payments are due currently? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
3053.0 | 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 . 2030 interest rate products . government bonds , money market instruments such as commercial paper , treasury bills , repurchase agreements and other highly liquid securities and instruments , as well as interest rate swaps , options and other derivatives . 2030 credit products . investment-grade corporate securities , high-yield securities , credit derivatives , bank and bridge loans , municipal securities , emerging market and distressed debt , and trade claims . 2030 mortgages . 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 . 2030 currencies . most currencies , including growth-market currencies . 2030 commodities . crude oil and petroleum products , natural gas , base , precious and other metals , electricity , coal , agricultural and other commodity products . 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 otc 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 2014|year ended december 2013|year ended december 2012|
|fixed income currency and commodities client execution|$ 8461|$ 8651|$ 9914|
|equities client execution1|2079|2594|3171|
|commissions and fees|3153|3103|3053|
|securities services|1504|1373|1986|
|total equities|6736|7070|8210|
|total net revenues|15197|15721|18124|
|operating expenses|10880|11792|12490|
|pre-tax earnings|$ 4317|$ 3929|$ 5634|
1 . net revenues related to the americas reinsurance business were $ 317 million for 2013 and $ 1.08 billion for 2012 . in april 2013 , we completed the sale of a majority stake in our americas reinsurance business and no longer consolidate this business . 42 goldman sachs 2014 annual report .
Question: in millions for 2014 , 2013 , and 2012 , what was the minimum amount of commissions and fees? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-0.21935 | Context:eastman notes to the audited consolidated financial statements accumulated other comprehensive income ( loss ) ( dollars in millions ) cumulative translation adjustment unfunded additional minimum pension liability unrecognized loss and prior service cost , net of unrealized gains ( losses ) on cash flow hedges unrealized losses on investments accumulated comprehensive income ( loss ) balance at december 31 , 2004 155 ( 248 ) -- ( 8 ) ( 2 ) ( 103 ) .
|( dollars in millions )|cumulative translation adjustment$|unfundedadditionalminimum pension liability$|unrecognized loss and prior service cost net of taxes$|unrealized gains ( losses ) on cash flow hedges$|unrealized losses on investments$|accumulated other comprehensive income ( loss ) $|
|balance at december 31 2004|155|-248 ( 248 )|--|-8 ( 8 )|-2 ( 2 )|-103 ( 103 )|
|period change|-94 ( 94 )|-7 ( 7 )|--|3|1|-97 ( 97 )|
|balance at december 31 2005|61|-255 ( 255 )|--|-5 ( 5 )|-1 ( 1 )|-200 ( 200 )|
|period change|60|48|--|-1 ( 1 )|--|107|
|pre-sfas no . 158 balance at december 31 2006|121|-207 ( 207 )|--|-6 ( 6 )|-1 ( 1 )|-93 ( 93 )|
|adjustments to apply sfas no . 158|--|207|-288 ( 288 )|--|--|-81 ( 81 )|
|balance at december 31 2006|121|--|-288 ( 288 )|-6 ( 6 )|-1 ( 1 )|-174 ( 174 )|
pre-sfas no . 158 balance at december 31 , 2006 121 ( 207 ) -- ( 6 ) ( 1 ) ( 93 ) adjustments to apply sfas no . 158 -- 207 ( 288 ) -- -- ( 81 ) balance at december 31 , 2006 121 -- ( 288 ) ( 6 ) ( 1 ) ( 174 ) except for cumulative translation adjustment , amounts of other comprehensive income ( loss ) are presented net of applicable taxes . because cumulative translation adjustment is considered a component of permanently invested , unremitted earnings of subsidiaries outside the united states , no taxes are provided on such amounts . 15 . share-based compensation plans and awards 2002 omnibus long-term compensation plan eastman's 2002 omnibus long-term compensation plan provides for grants to employees of nonqualified stock options , incentive stock options , tandem and freestanding stock appreciation rights ( 201csar 2019s 201d ) , performance shares and various other stock and stock-based awards . the 2002 omnibus plan provides that options can be granted through may 2 , 2007 , for the purchase of eastman common stock at an option price not less than 100 percent of the per share fair market value on the date of the stock option's grant . there is a maximum of 7.5 million shares of common stock available for option grants and other awards during the term of the 2002 omnibus plan . director long-term compensation plan eastman's 2002 director long-term compensation plan provides for grants of nonqualified stock options and restricted shares to nonemployee members of the board of directors . shares of restricted stock are granted upon the first day of the directors' initial term of service and nonqualified stock options and shares of restricted stock are granted each year following the annual meeting of stockholders . the 2002 director plan provides that options can be granted through the later of may 1 , 2007 , or the date of the annual meeting of stockholders in 2007 for the purchase of eastman common stock at an option price not less than the stock's fair market value on the date of the grant. .
Question: what is the percent change in cumulative translation adjustment between 2004 and 2006? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
1.02778 | Context:68 2012 ppg annual report and form 10-k december 31 , 2012 , 2011 and 2010 was $ ( 30 ) million , $ 98 million and $ 65 million , respectively . the cumulative tax benefit related to the adjustment for pension and other postretirement benefits at december 31 , 2012 and 2011 was approximately $ 960 million and $ 990 million , respectively . there was no tax ( cost ) benefit related to the change in the unrealized gain ( loss ) on marketable securities for the year ended december 31 , 2012 . the tax ( cost ) benefit related to the change in the unrealized gain ( loss ) on marketable securities for the years ended december 31 , 2011 and 2010 was $ ( 0.2 ) million and $ 0.6 million , respectively . the tax benefit related to the change in the unrealized gain ( loss ) on derivatives for the years ended december 31 , 2012 , 2011 and 2010 was $ 4 million , $ 19 million and $ 1 million , respectively . 18 . employee savings plan ppg 2019s employee savings plan ( 201csavings plan 201d ) covers substantially all u.s . employees . the company makes matching contributions to the savings plan , at management's discretion , based upon participants 2019 savings , subject to certain limitations . for most participants not covered by a collective bargaining agreement , company-matching contributions are established each year at the discretion of the company and are applied to participant savings up to a maximum of 6% ( 6 % ) of eligible participant compensation . for those participants whose employment is covered by a collective bargaining agreement , the level of company-matching contribution , if any , is determined by the relevant collective bargaining agreement . the company-matching contribution was suspended from march 2009 through june 2010 as a cost savings measure in recognition of the adverse impact of the global recession . effective july 1 , 2010 , the company match was reinstated at 50% ( 50 % ) on the first 6% ( 6 % ) of compensation contributed for most employees eligible for the company-matching contribution feature . this included the union represented employees in accordance with their collective bargaining agreements . on january 1 , 2011 , the company match was increased to 75% ( 75 % ) on the first 6% ( 6 % ) of compensation contributed by these eligible employees and this level was maintained throughout 2012 . compensation expense and cash contributions related to the company match of participant contributions to the savings plan for 2012 , 2011 and 2010 totaled $ 28 million , $ 26 million and $ 9 million , respectively . a portion of the savings plan qualifies under the internal revenue code as an employee stock ownership plan . as a result , the dividends on ppg shares held by that portion of the savings plan totaling $ 18 million , $ 20 million and $ 24 million for 2012 , 2011 and 2010 , respectively , were tax deductible to the company for u.s . federal tax purposes . 19 . other earnings .
|( millions )|2012|2011|2010|
|royalty income|$ 51|$ 55|$ 58|
|share of net earnings of equity affiliates ( see note 5 )|11|37|45|
|gain on sale of assets|4|12|8|
|other|83|73|69|
|total|$ 149|$ 177|$ 180|
20 . stock-based compensation the company 2019s stock-based compensation includes stock options , restricted stock units ( 201crsus 201d ) and grants of contingent shares that are earned based on achieving targeted levels of total shareholder return . all current grants of stock options , rsus and contingent shares are made under the ppg industries , inc . amended and restated omnibus incentive plan ( 201cppg amended omnibus plan 201d ) , which was amended and restated effective april 21 , 2011 . shares available for future grants under the ppg amended omnibus plan were 8.5 million as of december 31 , 2012 . total stock-based compensation cost was $ 73 million , $ 36 million and $ 52 million in 2012 , 2011 and 2010 , respectively . stock-based compensation expense increased year over year due to the increase in the expected payout percentage of the 2010 performance-based rsu grants and ppg's total shareholder return performance in 2012 in comparison with the standard & poors ( s&p ) 500 index , which has increased the expense related to outstanding grants of contingent shares . the total income tax benefit recognized in the accompanying consolidated statement of income related to the stock-based compensation was $ 25 million , $ 13 million and $ 18 million in 2012 , 2011 and 2010 , respectively . stock options ppg has outstanding stock option awards that have been granted under two stock option plans : the ppg industries , inc . stock plan ( 201cppg stock plan 201d ) and the ppg amended omnibus plan . under the ppg amended omnibus plan and the ppg stock plan , certain employees of the company have been granted options to purchase shares of common stock at prices equal to the fair market value of the shares on the date the options were granted . the options are generally exercisable beginning from six to 48 months after being granted and have a maximum term of 10 years . upon exercise of a stock option , shares of company stock are issued from treasury stock . the ppg stock plan includes a restored option provision for options originally granted prior to january 1 , 2003 that allows an optionee to exercise options and satisfy the option cost by certifying ownership of mature shares of ppg common stock with a market value equal to the option cost . the fair value of stock options issued to employees is measured on the date of grant and is recognized as expense over the requisite service period . ppg estimates the fair value of stock options using the black-scholes option pricing model . the risk- free interest rate is determined by using the u.s . treasury yield table of contents .
Question: what was the percentage change in stock-based compensation 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: |
0.71795 | Context:for securities that are quoted in active markets , the trustee/ custodian determines fair value by applying securities 2019 prices obtained from its pricing vendors . for commingled funds that are not actively traded , the trustee applies pricing information provided by investment management firms to the unit quanti- ties of such funds . investment management firms employ their own pricing vendors to value the securities underlying each commingled fund . underlying securities that are not actively traded derive their prices from investment managers , which in turn , employ vendors that use pricing models ( e.g. , discounted cash flow , comparables ) . the domestic defined benefit plans have no investment in our stock , except through the s&p 500 commingled trust index fund . the trustee obtains estimated prices from vendors for secu- rities that are not easily quotable and they are categorized accordingly as level 3 . the following table details further information on our plan assets where we have used significant unobservable inputs ( level 3 ) : .
|( in millions )|level 3|
|balance as of december 31 2016|$ 11|
|purchases|28|
|distributions|-1 ( 1 )|
|gain ( loss )|1|
|balance as of december 31 2017|$ 39|
pension trusts 2019 asset allocations there are two pension trusts , one in the u.s . and one in the u.k . the u.s . pension trust had assets of $ 1739 a0 million and $ 1632 a0million as of december a031 , 2017 and 2016 respectively , and the target allocations in 2017 include 68% ( 68 % ) fixed income , 27% ( 27 % ) domestic equities and 5% ( 5 % ) international equities . the u.k . pension trust had assets of $ 480 a0 million and $ 441 a0 million as of december a0 31 , 2017 and 2016 , respec- tively , and the target allocations in 2017 include 40% ( 40 % ) fixed income , 30% ( 30 % ) diversified growth funds , 20% ( 20 % ) equities and 10% ( 10 % ) real estate . the pension assets are invested with the goal of producing a combination of capital growth , income and a liability hedge . the mix of assets is established after consideration of the long- term performance and risk characteristics of asset classes . investments are selected based on their potential to enhance returns , preserve capital and reduce overall volatility . holdings are diversified within each asset class . the portfolios employ a mix of index and actively managed equity strategies by market capitalization , style , geographic regions and economic sec- tors . the fixed income strategies include u.s . long duration securities , opportunistic fixed income securities and u.k . debt instruments . the short-term portfolio , whose primary goal is capital preservation for liquidity purposes , is composed of gov- ernment and government- agency securities , uninvested cash , receivables and payables . the portfolios do not employ any financial leverage . u.s . defined contribution plans assets of the defined contribution plans in the u.s . consist pri- marily of investment options which include actively managed equity , indexed equity , actively managed equity/bond funds , target date funds , s&p global inc . common stock , stable value and money market strategies . there is also a self- directed mutual fund investment option . the plans purchased 228248 shares and sold 297750 shares of s&p global inc . common stock in 2017 and purchased 216035 shares and sold 437283 shares of s&p global inc . common stock in 2016 . the plans held approximately 1.5 a0million shares of s&p global inc . com- mon stock as of december a031 , 2017 and 1.6 a0million shares as of december a031 , 2016 , with market values of $ 255 a0million and $ 171 a0million , respectively . the plans received dividends on s&p global inc . common stock of $ 3 a0million and $ 2 a0million during the years ended december a031 , 2017 and december a031 , 2016 respectively . 8 . stock-based compensation we issue stock-based incentive awards to our eligible employ- ees and directors under the 2002 employee stock incentive plan and a director deferred stock ownership plan . 2002 employee stock incentive plan ( the 201c2002 plan 201d ) 2014 the 2002 plan permits the granting of nonquali- fied stock options , stock appreciation rights , performance stock , restricted stock and other stock-based awards . director deferred stock ownership plan 2014 under this plan , common stock reserved may be credited to deferred stock accounts for eligible directors . in general , the plan requires that 50% ( 50 % ) of eligible directors 2019 annual com- pensation plus dividend equivalents be credited to deferred stock accounts . each director may also elect to defer all or a portion of the remaining compensation and have an equiva- lent number of shares credited to the deferred stock account . recipients under this plan are not required to provide con- sideration to us other than rendering service . shares will be delivered as of the date a recipient ceases to be a member of the board of directors or within five years thereafter , if so elected . the plan will remain in effect until terminated by the board of directors or until no shares of stock remain avail- able under the plan . s&p global 2017 annual report 71 .
Question: as part of plan assets what was the percent of the purchases on the total account balance | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
38.02 | Context:part ii item 5 . market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities market price of and dividends on the registrant 2019s common equity and related stockholder matters market information . our class a common stock is quoted on the nasdaq global select market under the symbol 201cdish . 201d the high and low closing sale prices of our class a common stock during 2014 and 2013 on the nasdaq global select market ( as reported by nasdaq ) are set forth below. .
|2014|high|low|
|first quarter|$ 62.42|$ 54.10|
|second quarter|65.64|56.23|
|third quarter|66.71|61.87|
|fourth quarter|79.41|57.96|
|2013|high|low|
|first quarter|$ 38.02|$ 34.19|
|second quarter|42.52|36.24|
|third quarter|48.09|41.66|
|fourth quarter|57.92|45.68|
as of february 13 , 2015 , there were approximately 8208 holders of record of our class a common stock , not including stockholders who beneficially own class a common stock held in nominee or street name . as of february 10 , 2015 , 213247004 of the 238435208 outstanding shares of our class b common stock were beneficially held by charles w . ergen , our chairman , and the remaining 25188204 were held in trusts established by mr . ergen for the benefit of his family . there is currently no trading market for our class b common stock . dividends . on december 28 , 2012 , we paid a cash dividend of $ 1.00 per share , or approximately $ 453 million , on our outstanding class a and class b common stock to stockholders of record at the close of business on december 14 , 2012 . while we currently do not intend to declare additional dividends on our common stock , we may elect to do so from time to time . payment of any future dividends will depend upon our earnings and capital requirements , restrictions in our debt facilities , and other factors the board of directors considers appropriate . we currently intend to retain our earnings , if any , to support future growth and expansion , although we may repurchase shares of our common stock from time to time . see further discussion under 201citem 7 . management 2019s discussion and analysis of financial condition and results of operations 2013 liquidity and capital resources 201d in this annual report on form 10-k . securities authorized for issuance under equity compensation plans . see 201citem 12 . security ownership of certain beneficial owners and management and related stockholder matters 201d in this annual report on form 10-k. .
Question: how high did the stock price reach in january to march 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: |
0.77193 | Context:the fair value of variable rate debt approximates the carrying value since interest rates are variable and , thus , approximate current market rates . free cash flow we define free cash flow , which is not a measure determined in accordance with generally accepted accounting principles in the united states , as 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 . our free cash flow for the years ended december 31 , 2005 , 2004 and 2003 is calculated as follows ( in millions ) : .
||2005|2004|2003|
|cash provided by operating activities|$ 767.5|$ 666.3|$ 600.5|
|purchases of property and equipment|-328.7 ( 328.7 )|-283.8 ( 283.8 )|-273.2 ( 273.2 )|
|proceeds from sales of property and equipment|10.1|5.7|9.1|
|free cash flow|$ 448.9|$ 388.2|$ 336.4|
free cash flow for the year ended december 31 , 2005 was higher than the previous years presented primarily because of a $ 113.4 million federal tax payment that was deferred until february 2006 as a result of an internal revenue service notice issued in response to hurricane katrina , and the timing of payments for capital and other expenditures . as a result of the timing of these payments , we expect free cash flow during 2006 to be lower than 2005 . we believe that the presentation of free cash flow provides useful information regarding our recurring cash provided by operating activities after expenditures for property and equipment , net of proceeds from sales of property and equipment . it also demonstrates our ability to execute our financial strategy which includes reinvesting in existing capital assets to ensure a high level of customer service , investing in capital assets to facilitate growth in our customer base and services provided , pursuing strategic acquisitions that augment our existing business platform , repurchasing shares of common stock at prices that provide value to our shareholders , paying cash dividends , maintaining our investment grade rating and minimizing debt . in addition , free cash flow is a key metric used to determine compensation . the presentation of free cash flow has material limitations . free cash flow does not represent our cash flow available for discretionary expenditures because it excludes certain expenditures that are required or that we have committed to such as debt service requirements and dividend payments . our definition of free cash flow may not be comparable to similarly titled measures presented by other companies . seasonality our operations can be adversely affected by periods of inclement weather which could increase the volume of waste collected under our existing contracts ( without corresponding compensation ) , delay the collection and disposal of waste , reduce the volume of waste delivered to our disposal sites , or delay the construction or expansion of our landfill sites and other facilities . new accounting pronouncements on december 16 , 2004 , the financial accounting standards board issued statement of financial accounting standards no . 123 ( revised 2004 ) , 201cshare-based payment , 201d which is a revision of sfas 123 , 201caccounting for stock-based compensation . 201d sfas 123 ( r ) supersedes apb opinion no . 25 , 201caccounting for stock issued to employees , 201d and amends sfas 95 , 201cstatement of cash flows . 201d generally , the approach in sfas 123 ( r ) is similar to the approach described in sfas 123 . however , sfas 123 ( r ) requires all share-based payments to employees , including grants of employee stock options , to be recognized in the income statement based on their fair values . pro forma disclosure is no longer an alternative . we are required to adopt sfas 123 ( r ) on january 1 , 2006 and expect to use the 201cmodified-prospective 201d method in which compensation cost will be recognized beginning with the effective date based on the requirements of sfas 123 ( r ) for all share-based payments granted after the effective date. .
Question: what was the percent of the increase in proceeds from sales of property and equipment from 2004 to 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: |
8000.0 | Context:2022 increased proved liquid hydrocarbon , including synthetic crude oil , reserves to 78 percent from 75 percent of proved reserves 2022 increased e&p net sales volumes , excluding libya , by 7 percent 2022 recorded 96 percent average operational availability for all major company-operated e&p assets , compared to 94 percent in 2010 2022 completed debottlenecking work that increased crude oil production capacity at the alvheim fpso in norway to 150000 gross bbld from the previous capacity of 142000 gross bbld and the original 2008 capacity of 120000 gross bbld 2022 announced two non-operated discoveries in the iraqi kurdistan region and began drilling in poland 2022 completed aosp expansion 1 , including the start-up of the expanded scotford upgrader , realizing an increase in net synthetic crude oil sales volumes of 48 percent 2022 completed dispositions of non-core assets and interests in acreage positions for net proceeds of $ 518 million 2022 repurchased 12 million shares of our common stock at a cost of $ 300 million 2022 retired $ 2498 million principal of our long-term debt 2022 resumed limited production in libya in the fourth quarter of 2011 following the february 2011 temporary suspension of operations consolidated results of operations : 2011 compared to 2010 due to the spin-off of our downstream business on june 30 , 2011 , which is reported as discontinued operations , income from continuing operations is more representative of marathon oil as an independent energy company . consolidated income from continuing operations before income taxes was 9 percent higher in 2011 than in 2010 , largely due to higher liquid hydrocarbon prices . this improvement was offset by increased income taxes primarily the result of excess foreign tax credits generated during 2011 that we do not expect to utilize in the future . the effective income tax rate for continuing operations was 61 percent in 2011 compared to 54 percent in 2010 . revenues are summarized in the following table : ( in millions ) 2011 2010 .
|( in millions )|2011|2010|
|e&p|$ 13029|$ 10782|
|osm|1588|833|
|ig|93|150|
|segment revenues|14710|11765|
|elimination of intersegment revenues|-47 ( 47 )|-75 ( 75 )|
|total revenues|$ 14663|$ 11690|
e&p segment revenues increased $ 2247 million from 2010 to 2011 , primarily due to higher average liquid hydrocarbon realizations , which were $ 99.37 per bbl in 2011 , a 31 percent increase over 2010 . revenues in 2010 included net pre-tax gains of $ 95 million on derivative instruments intended to mitigate price risk on future sales of liquid hydrocarbons and natural gas . included in our e&p segment are supply optimization activities which include the purchase of commodities from third parties for resale . supply optimization serves to aggregate volumes in order to satisfy transportation commitments and to achieve flexibility within product types and delivery points . see the cost of revenues discussion as revenues from supply optimization approximate the related costs . higher average crude oil prices in 2011 compared to 2010 increased revenues related to supply optimization . revenues from the sale of our u.s . production are higher in 2011 primarily as a result of higher liquid hydrocarbon and natural gas price realizations , but sales volumes declined. .
Question: for the completed debottlenecking work that increased crude oil production capacity at the alvheim fpso in norway , what was the increase in gross bbld from the previous capacity? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-0.03057 | Context:zimmer biomet holdings , inc . 2018 form 10-k annual report ( 8 ) we have incurred other various expenses from specific events or projects that we consider highly variable or have a significant impact to our operating results that we have excluded from our non-gaap financial measures . this includes legal entity and operational restructuring as well as our costs of complying with our dpa with the u.s . government related to certain fcpa matters involving biomet and certain of its subsidiaries . under the dpa , which has a three-year term , we are subject to oversight by an independent compliance monitor , which monitorship commenced in july 2017 . the excluded costs include the fees paid to the independent compliance monitor and to external legal counsel assisting in the matter . ( 9 ) represents the tax effects on the previously specified items . the tax effect for the u.s . jurisdiction is calculated based on an effective rate considering federal and state taxes , as well as permanent items . for jurisdictions outside the u.s. , the tax effect is calculated based upon the statutory rates where the items were incurred . ( 10 ) the 2016 period includes negative effects from finalizing the tax accounts for the biomet merger . under the applicable u.s . gaap rules , these measurement period adjustments are recognized on a prospective basis in the period of change . ( 11 ) the 2017 tax act resulted in a net favorable provisional adjustment due to the reduction of deferred tax liabilities for unremitted earnings and revaluation of deferred tax liabilities to a 21 percent rate , which was partially offset by provisional tax charges related to the toll charge provision of the 2017 tax act . in 2018 , we finalized our estimates of the effects of the 2017 tax act based upon final guidance issued by u.s . tax authorities . ( 12 ) other certain tax adjustments in 2018 primarily related to changes in tax rates on deferred tax liabilities recorded on intangible assets recognized in acquisition-related accounting and adjustments from internal restructuring transactions that provide us access to offshore funds in a tax efficient manner . in 2017 , other certain tax adjustments relate to tax benefits from lower tax rates unrelated to the impact of the 2017 tax act , net favorable resolutions of various tax matters and net favorable adjustments from internal restructuring transactions . the 2016 adjustment primarily related to a favorable adjustment to certain deferred tax liabilities recognized as part of acquisition-related accounting and favorable resolution of certain tax matters with taxing authorities offset by internal restructuring transactions that provide us access to offshore funds in a tax efficient manner . ( 13 ) diluted share count used in adjusted diluted eps : year ended december 31 , 2018 .
||year endeddecember 31 2018|
|diluted shares|203.5|
|dilutive shares assuming net earnings|1.5|
|adjusted diluted shares|205.0|
liquidity and capital resources cash flows provided by operating activities were $ 1747.4 million in 2018 compared to $ 1582.3 million and $ 1632.2 million in 2017 and 2016 , respectively . the increase in operating cash flows in 2018 compared to 2017 was driven by additional cash flows from our sale of accounts receivable in certain countries , lower acquisition and integration expenses and lower quality remediation expenses , as well as certain significant payments made in the 2017 period . in the 2017 period , we made payments related to the u.s . durom cup settlement program , and we paid $ 30.5 million in settlement payments to resolve previously-disclosed fcpa matters involving biomet and certain of its subsidiaries as discussed in note 19 to our consolidated financial statements included in item 8 of this report . the decline in operating cash flows in 2017 compared to 2016 was driven by additional investments in inventory , additional expenses for quality remediation and the significant payments made in the 2017 period as discussed in the previous sentence . these unfavorable items were partially offset by $ 174.0 million of incremental cash flows in 2017 from our sale of accounts receivable in certain countries . cash flows used in investing activities were $ 416.6 million in 2018 compared to $ 510.8 million and $ 1691.5 million in 2017 and 2016 , respectively . instrument and property , plant and equipment additions reflected ongoing investments in our product portfolio and optimization of our manufacturing and logistics network . in 2018 , we entered into receive-fixed-rate , pay-fixed-rate cross-currency interest rate swaps . our investing cash flows reflect the net cash inflows from the fixed- rate interest rate receipts/payments , as well as the termination of certain of these swaps that were in a gain position in the year . the 2016 period included cash outflows for the acquisition of ldr holding corporation ( 201cldr 201d ) and other business acquisitions . additionally , the 2016 period reflects the maturity of available-for-sale debt securities . as these investments matured , we used the cash to pay off debt and have not reinvested in any additional debt securities . cash flows used in financing activities were $ 1302.2 million in 2018 . our primary use of available cash in 2018 was for debt repayment . we received net proceeds of $ 749.5 million from the issuance of additional senior notes and borrowed $ 400.0 million from our multicurrency revolving facility to repay $ 1150.0 million of senior notes that became due on april 2 , 2018 . we subsequently repaid the $ 400.0 million of multicurrency revolving facility borrowings . also in 2018 , we borrowed another $ 675.0 million under a new u.s . term loan c and used the cash proceeds along with cash generated from operations throughout the year to repay an aggregate of $ 835.0 million on u.s . term loan a , $ 450.0 million on u.s . term loan b , and we subsequently repaid $ 140.0 million on u.s . term loan c . overall , we had approximately $ 1150 million of net principal repayments on our senior notes and term loans in 2018 . in 2017 , our primary use of available cash was also for debt repayment compared to 2016 when we were not able to repay as much debt due to financing requirements to complete the ldr and other business acquisitions . additionally in 2017 , we had net cash inflows of $ 103.5 million on factoring programs that had not been remitted to the third party . in 2018 , we had net cash outflows related to these factoring programs as we remitted the $ 103.5 million and collected only $ 66.8 million which had not yet been remitted by the end of the year . since our factoring programs started at the end of 2016 , we did not have similar cash flows in that year . in january 2019 , we borrowed an additional $ 200.0 million under u.s . term loan c and used those proceeds , along with cash on hand , to repay the remaining $ 225.0 million outstanding under u.s . term loan b . in february , may , august and december 2018 , our board of directors declared cash dividends of $ 0.24 per share . we expect to continue paying cash dividends on a quarterly basis ; however , future dividends are subject to approval of the board of directors and may be adjusted as business needs or market conditions change . as further discussed in note 11 to our consolidated financial statements , our debt facilities restrict the payment of dividends in certain circumstances. .
Question: what is the percent change in cash flows provided by operating activities between 2017 and 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: |
2.16814 | Context:recognized total losses and expenses of $ 28.6 million , including a net loss on write-down to fair value of the assets and certain other transaction fees of $ 27.1 million within other expenses and $ 1.5 million of legal and other fees . 2022 professional fees and outside services expense decreased in 2017 compared to 2016 , largely due to higher legal and regulatory fees in 2016 related to our business activities and product offerings as well as higher professional fees related to a greater reliance on consultants for security and systems enhancement work . the overall decrease in operating expenses in 2017 when compared with 2016 was partially offset by the following increases : 2022 licensing and other fee sharing agreements expense increased due to higher expense resulting from incentive payments made to facilitate the transition of the russell contract open interest , as well as increased costs of revenue sharing agreements for certain licensed products . the overall increase in 2017 was partially offset by lower expense related to revenue sharing agreements for certain equity and energy contracts due to lower volume for these products compared to 2016 . 2022 compensation and benefits expense increased as a result of higher average headcount primarily in our international locations as well as normal cost of living adjustments . 2016 compared with 2015 operating expenses increased by $ 54.4 million in 2016 when compared with 2015 . the following table shows the estimated impact of key factors resulting in the net decrease in operating expenses . ( dollars in millions ) over-year change change as a percentage of 2015 expenses .
|( dollars in millions )|year-over-yearchange|change as apercentage of2015 expenses|
|loss on datacenter and related legal fees|$ 28.6|2% ( 2 % )|
|professional fees and outside services|24.4|2|
|foreign currency exchange rate fluctuation|13.2|1|
|licensing and other fee agreements|12.0|1|
|reorganization severance and retirement costs|-8.1 ( 8.1 )|-1 ( 1 )|
|real estate taxes and fees|-10.0 ( 10.0 )|-1 ( 1 )|
|other expenses net|-5.7 ( 5.7 )|2014|
|total|$ 54.4|4% ( 4 % )|
overall operating expenses increased in 2016 when compared with 2015 due to the following reasons : 2022 in 2016 , we recognized total losses and expenses of $ 28.6 million , including a net loss on write-down to fair value of the assets and certain other transaction fees of $ 27.1 million within other expenses and $ 1.5 million of legal and other fees as a result of our sale and leaseback of our datacenter . 2022 professional fees and outside services expense increased in 2016 largely due to an increase in legal and regulatory efforts related to our business activities and product offerings as well as an increase in professional fees related to a greater reliance on consultants for security and systems enhancement work . 2022 in 2016 , we recognized a net loss of $ 24.5 million due to an unfavorable change in exchange rates on foreign cash balances , compared with a net loss of $ 11.3 million in 2015 . 2022 licensing and other fee sharing agreements expense increased due to higher expense related to revenue sharing agreements for certain equity and energy contracts due to both higher volume and an increase in license rates for certain equity and energy products. .
Question: what was the ratio of the net loss in 2016 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: |
0.7756 | Context:certain reclassifications and format changes have been made to prior years 2019 amounts to conform to the 2015 presentation . b . investments . fixed maturity and equity security investments available for sale , at market value , reflect unrealized appreciation and depreciation , as a result of temporary changes in market value during the period , in shareholders 2019 equity , net of income taxes in 201caccumulated other comprehensive income ( loss ) 201d in the consolidated balance sheets . fixed maturity and equity securities carried at fair value reflect fair value re- measurements as net realized capital gains and losses in the consolidated statements of operations and comprehensive income ( loss ) . the company records changes in fair value for its fixed maturities available for sale , at market value through shareholders 2019 equity , net of taxes in accumulated other comprehensive income ( loss ) since cash flows from these investments will be primarily used to settle its reserve for losses and loss adjustment expense liabilities . the company anticipates holding these investments for an extended period as the cash flow from interest and maturities will fund the projected payout of these liabilities . fixed maturities carried at fair value represent a portfolio of convertible bond securities , which have characteristics similar to equity securities and at times , designated foreign denominated fixed maturity securities , which will be used to settle loss and loss adjustment reserves in the same currency . the company carries all of its equity securities at fair value except for mutual fund investments whose underlying investments are comprised of fixed maturity securities . for equity securities , available for sale , at fair value , the company reflects changes in value as net realized capital gains and losses since these securities may be sold in the near term depending on financial market conditions . interest income on all fixed maturities and dividend income on all equity securities are included as part of net investment income in the consolidated statements of operations and comprehensive income ( loss ) . unrealized losses on fixed maturities , which are deemed other-than-temporary and related to the credit quality of a security , are charged to net income ( loss ) as net realized capital losses . short-term investments are stated at cost , which approximates market value . realized gains or losses on sales of investments are determined on the basis of identified cost . for non- publicly traded securities , market prices are determined through the use of pricing models that evaluate securities relative to the u.s . treasury yield curve , taking into account the issue type , credit quality , and cash flow characteristics of each security . for publicly traded securities , market value is based on quoted market prices or valuation models that use observable market inputs . when a sector of the financial markets is inactive or illiquid , the company may use its own assumptions about future cash flows and risk-adjusted discount rates to determine fair value . retrospective adjustments are employed to recalculate the values of asset-backed securities . each acquisition lot is reviewed to recalculate the effective yield . the recalculated effective yield is used to derive a book value as if the new yield were applied at the time of acquisition . outstanding principal factors from the time of acquisition to the adjustment date are used to calculate the prepayment history for all applicable securities . conditional prepayment rates , computed with life to date factor histories and weighted average maturities , are used to effect the calculation of projected and prepayments for pass-through security types . other invested assets include limited partnerships and rabbi trusts . limited partnerships are accounted for under the equity method of accounting , which can be recorded on a monthly or quarterly lag . c . uncollectible receivable balances . the company provides reserves for uncollectible reinsurance recoverable and premium receivable balances based on management 2019s assessment of the collectability of the outstanding balances . such reserves are presented in the table below for the periods indicated. .
|( dollars in thousands )|years ended december 31 , 2015|years ended december 31 , 2014|
|reinsurance receivables and premium receivables|$ 22878|$ 29497|
.
Question: what is the ratio of the reinsurance receivables and premium receivables for 2015 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: |
1.625 | Context:december 2016 acquisition of camber and higher volumes in fleet support and oil and gas services , partially offset by lower nuclear and environmental volumes due to the resolution in 2016 of outstanding contract changes on a nuclear and environmental commercial contract . segment operating income 2018 - operating income in the technical solutions segment for the year ended december 31 , 2018 , was $ 32 million , compared to operating income of $ 21 million in 2017 . the increase was primarily due to an allowance for accounts receivable in 2017 on a nuclear and environmental commercial contract and higher income from operating investments at our nuclear and environmental joint ventures , partially offset by one time employee bonus payments in 2018 related to the tax act and lower performance in fleet support services . 2017 - operating income in the technical solutions segment for the year ended december 31 , 2017 , was $ 21 million , compared to operating income of $ 8 million in 2016 . the increase was primarily due to improved performance in oil and gas services and higher volume in mdis services following the december 2016 acquisition of camber , partially offset by the establishment of an allowance for accounts receivable on a nuclear and environmental commercial contract in 2017 and the resolution in 2016 of outstanding contract changes on a nuclear and environmental commercial contract . backlog total backlog as of december 31 , 2018 , was approximately $ 23 billion . total backlog includes both funded backlog ( firm orders for which funding is contractually obligated by the customer ) and unfunded backlog ( firm orders for which funding is not currently contractually obligated by the customer ) . backlog excludes unexercised contract options and unfunded idiq orders . for contracts having no stated contract values , backlog includes only the amounts committed by the customer . the following table presents funded and unfunded backlog by segment as of december 31 , 2018 and 2017: .
|( $ in millions )|december 31 2018 funded|december 31 2018 unfunded|december 31 2018 total backlog|december 31 2018 funded|december 31 2018 unfunded|total backlog|
|ingalls|$ 9943|$ 1422|$ 11365|$ 5920|$ 2071|$ 7991|
|newport news|6767|4144|10911|6976|5608|12584|
|technical solutions|339|380|719|478|314|792|
|total backlog|$ 17049|$ 5946|$ 22995|$ 13374|$ 7993|$ 21367|
we expect approximately 30% ( 30 % ) of the $ 23 billion total backlog as of december 31 , 2018 , to be converted into sales in 2019 . u.s . government orders comprised substantially all of the backlog as of december 31 , 2018 and 2017 . awards 2018 - the value of new contract awards during the year ended december 31 , 2018 , was approximately $ 9.8 billion . significant new awards during the period included contracts for the construction of three arleigh burke class ( ddg 51 ) destroyers , for the detail design and construction of richard m . mccool jr . ( lpd 29 ) , for procurement of long-lead-time material for enterprise ( cvn 80 ) , and for the construction of nsc 10 ( unnamed ) and nsc 11 ( unnamed ) . in addition , we received awards in 2019 valued at $ 15.2 billion for detail design and construction of the gerald r . ford class ( cvn 78 ) aircraft carriers enterprise ( cvn 80 ) and cvn 81 ( unnamed ) . 2017 - the value of new contract awards during the year ended december 31 , 2017 , was approximately $ 8.1 billion . significant new awards during this period included the detailed design and construction contract for bougainville ( lha 8 ) and the execution contract for the rcoh of uss george washington ( cvn 73 ) . .
Question: what was the percentage increase in the operating income from 2016 to 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: |
1.27 | Context:state street corporation | 52 shareholder return performance presentation the graph presented below compares the cumulative total shareholder return on state street's common stock to the cumulative total return of the s&p 500 index , the s&p financial index and the kbw bank index over a five-year period . the cumulative total shareholder return assumes the investment of $ 100 in state street common stock and in each index on december 31 , 2012 . it also assumes reinvestment of common stock dividends . the s&p financial index is a publicly available , capitalization-weighted index , comprised of 67 of the standard & poor 2019s 500 companies , representing 27 diversified financial services companies , 23 insurance companies , and 17 banking companies . the kbw bank index is a modified cap-weighted index consisting of 24 exchange-listed stocks , representing national money center banks and leading regional institutions. .
||2012|2013|2014|2015|2016|2017|
|state street corporation|$ 100|$ 159|$ 172|$ 148|$ 178|$ 227|
|s&p 500 index|100|132|151|153|171|208|
|s&p financial index|100|136|156|154|189|230|
|kbw bank index|100|138|151|151|195|231|
.
Question: what percent returns did shareholders of state street corporation | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.59585 | 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 . other sensitivity measures we use to analyze market risk are described below . 10% ( 10 % ) sensitivity measures . the table below presents market risk for inventory positions that are not included in var . 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 . equity positions below relate to private and restricted public equity securities , including interests in funds that invest in corporate equities and real estate and interests in hedge funds , which are included in 201cfinancial instruments owned , at fair value . 201d debt positions include interests in funds that invest in corporate mezzanine and senior debt instruments , loans backed by commercial and residential real estate , corporate bank loans and other corporate debt , including acquired portfolios of distressed loans . these debt positions are included in 201cfinancial instruments owned , at fair value . 201d see note 6 to the consolidated financial statements for further information about cash instruments . these measures do not reflect diversification benefits across asset categories or across other market risk measures . asset categories 10% ( 10 % ) sensitivity amount as of december in millions 2013 2012 equity 1 $ 2256 $ 2471 .
|asset categories|asset categories||
|in millions|2013|2012|
|equity1|$ 2256|$ 2471|
|debt|1522|1676|
|total|$ 3778|$ 4147|
1 . december 2012 includes $ 208 million related to our investment in the ordinary shares of icbc , which was sold in the first half of 2013 . credit spread sensitivity on derivatives and borrowings . 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 gain of $ 4 million and $ 3 million ( including hedges ) as of december 2013 and december 2012 , respectively . 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 gain of $ 8 million and $ 7 million ( including hedges ) as of december 2013 and december 2012 , respectively . 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 . interest rate sensitivity . as of december 2013 and december 2012 , the firm had $ 14.90 billion and $ 6.50 billion , respectively , 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 . as of december 2013 and december 2012 , the estimated sensitivity to a 100 basis point increase in interest rates on such loans was $ 136 million and $ 62 million , respectively , 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 . goldman sachs 2013 annual report 95 .
Question: what percentage of total 10% ( 10 % ) sensitivity amount as of december 2012 is equity related? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.01481 | Context:westrock company notes to consolidated financial statements fffd ( continued ) the following table summarizes the weighted average life and the allocation to intangible assets recognized in the mps acquisition , excluding goodwill ( in millions ) : weighted avg . amounts recognized as the acquisition .
||weighted avg.life|amountsrecognized as ofthe acquisitiondate|
|customer relationships|14.6|$ 1008.7|
|trademarks and tradenames|3.0|15.2|
|photo library|10.0|2.5|
|total|14.4|$ 1026.4|
none of the intangibles has significant residual value . we are amortizing the customer relationship intangibles over estimated useful lives ranging from 13 to 16 years based on a straight-line basis because the amortization pattern was not reliably determinable . star pizza acquisition on march 13 , 2017 , we completed the star pizza acquisition . the transaction provided us with a leadership position in the fast growing small-run pizza box market and increases our vertical integration . the purchase price was $ 34.6 million , net of a $ 0.7 million working capital settlement . we have fully integrated the approximately 22000 tons of containerboard used by star pizza annually . we have included the financial results of the acquired assets since the date of the acquisition in our corrugated packaging segment . the purchase price allocation for the acquisition primarily included $ 24.8 million of customer relationship intangible assets and $ 2.2 million of goodwill . we are amortizing the customer relationship intangibles over 10 years based on a straight-line basis because the amortization pattern was not reliably determinable . the fair value assigned to goodwill is primarily attributable to buyer-specific synergies expected to arise after the acquisition ( e.g. , enhanced reach of the combined organization and other synergies ) , and the assembled work force . the goodwill and intangibles are amortizable for income tax purposes . packaging acquisition on january 19 , 2016 , we completed the packaging acquisition . the entities acquired provide value-added folding carton and litho-laminated display packaging solutions . the purchase price was $ 94.1 million , net of cash received of $ 1.7 million , a working capital settlement and a $ 3.5 million escrow receipt in the first quarter of fiscal 2017 . the transaction is subject to an election under section 338 ( h ) ( 10 ) of the code that increases the u.s . tax basis in the acquired u.s . entities . we believe the transaction has provided us with attractive and complementary customers , markets and facilities . we have included the financial results of the acquired entities since the date of the acquisition in our consumer packaging segment . the purchase price allocation for the acquisition primarily included $ 55.0 million of property , plant and equipment , $ 10.5 million of customer relationship intangible assets , $ 9.3 million of goodwill and $ 25.8 million of liabilities , including $ 1.3 million of debt . we are amortizing the customer relationship intangibles over estimated useful lives ranging from 9 to 15 years based on a straight-line basis because the amortization pattern was not reliably determinable . the fair value assigned to goodwill is primarily attributable to buyer-specific synergies expected to arise after the acquisition ( e.g. , enhanced reach of the combined organization and other synergies ) , and the assembled work force . the goodwill and intangibles of the u.s . entities are amortizable for income tax purposes . sp fiber on october 1 , 2015 , we completed the sp fiber acquisition in a stock purchase . the transaction included the acquisition of mills located in dublin , ga and newberg , or , which produce lightweight recycled containerboard and kraft and bag paper . the newberg mill also produced newsprint . as part of the transaction , we also acquired sp fiber's 48% ( 48 % ) interest in gps . gps is a joint venture providing steam to the dublin mill and electricity to georgia power . the purchase price was $ 278.8 million , net of cash received of $ 9.2 million and a working capital .
Question: what percent of the recognized value of the period's acquisition is from the value of trademarks and tradenames? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
1.23077 | Context:2022 selling costs increased $ 5.4 million to $ 17.1 million in 2005 from $ 11.7 million in 2004 . this increase was due to increased headcount in our sales force and startup costs associated with our international growth initiatives . as a percentage of net revenues , selling costs increased to 6.1% ( 6.1 % ) in 2005 from 5.7% ( 5.7 % ) in 2004 due to the increased costs described above . 2022 payroll and related costs ( excluding those specifically related to marketing and selling ) increased $ 8.6 million to $ 26.9 million in 2005 , from $ 18.3 million in 2004 . the increase during 2005 was due to the following initiatives : we began to build our team to design and source our footwear line , which we expect to offer for the fall 2006 season , we added personnel to our information technology team to support our company-wide initiative to upgrade our information systems , we incurred equity compensation costs , we added personnel to operate our 3 new retail outlet stores , and we invested in the personnel needed to enhance our compliance function and operate as a public company . as a percentage of net revenues , payroll and related costs ( excluding those specifically related to marketing and selling ) increased to 9.6% ( 9.6 % ) in 2005 from 8.9% ( 8.9 % ) in 2004 due to the items described above . 2022 other corporate costs increased $ 7.2 million to $ 25.5 million in 2005 , from $ 18.3 million in 2004 . this increase was attributable to higher costs in support of our footwear initiative , freight and duty related to increased canada sales , expansion of our leased corporate office space and distribution facility , and necessary costs associated with being a public company . as a percentage of net revenues , other corporate costs were 9.1% ( 9.1 % ) in 2005 , which is a slight increase from 8.9% ( 8.9 % ) in 2004 due to the items noted above . income from operations increased $ 10.5 million , or 41.4% ( 41.4 % ) , to $ 35.9 million in 2005 from $ 25.4 million in 2004 . income from operations as a percentage of net revenues increased to 12.7% ( 12.7 % ) in 2005 from 12.4% ( 12.4 % ) in 2004 . this increase was a result of an increase in gross margin partially offset by an increase in selling , general and administrative expenses as a percentage of net revenues . interest expense , net increased $ 1.6 million to $ 2.9 million in 2005 from $ 1.3 million in 2004 . this increase was primarily due to higher average borrowings and a higher effective interest rate under our revolving credit facility prior to being repaid in november 2005 with proceeds from the initial public offering . provision for income taxes increased $ 5.5 million to $ 13.3 million in 2005 from $ 7.8 million in 2004 . for the year ended december 31 , 2005 our effective tax rate was 40.2% ( 40.2 % ) compared to 32.3% ( 32.3 % ) in 2004 . this increase was primarily due to an increase in our effective state tax rate , which reflected reduced state tax credits earned as a percentage of income before taxes . net income increased $ 3.4 million to $ 19.7 million in 2005 from $ 16.3 million in 2004 , as a result of the factors described above . year ended december 31 , 2004 compared to year ended december 31 , 2003 net revenues increased $ 89.8 million , or 77.8% ( 77.8 % ) , to $ 205.2 million in 2004 from $ 115.4 million in 2003 . the increase was a result of increases in both our net sales and license revenues as noted in the product category table below. .
|( in thousands )|year ended december 31 , 2004|year ended december 31 , 2003|year ended december 31 , $ change|year ended december 31 , % ( % ) change|
|mens|$ 151962|$ 92197|$ 59765|64.8% ( 64.8 % )|
|womens|28659|10968|17691|161.3% ( 161.3 % )|
|youth|12705|8518|4187|49.2% ( 49.2 % )|
|accessories|7548|2072|5476|264.3% ( 264.3 % )|
|total net sales|200874|113755|87119|76.6% ( 76.6 % )|
|license revenues|4307|1664|2643|158.8% ( 158.8 % )|
|total net revenues|$ 205181|$ 115419|$ 89762|77.8% ( 77.8 % )|
.
Question: what was the percent of the increase in interest expense from 2004 to 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: |
0.24523 | Context:engineered products and solutions .
||2015|2014|2013|
|third-party sales|$ 5342|$ 4217|$ 4054|
|atoi|$ 595|$ 579|$ 569|
this segment represents a portion of alcoa 2019s downstream operations and produces products that are used mostly in the aerospace ( commercial and defense ) , commercial transportation , and power generation end markets . such products include fastening systems ( titanium , steel , and nickel alloys ) and seamless rolled rings ( mostly nickel alloys ) ; and investment castings ( nickel super alloys , titanium , and aluminum ) , including airfoils and forged jet engine components ( e.g. , jet engine disks ) , all of which are sold directly to customers and through distributors . more than 70% ( 70 % ) of the third- party sales in this segment are from the aerospace end market . a small part of this segment also produces various forging and extrusion metal products for the oil and gas , industrial products , automotive , and land and sea defense end markets . seasonal decreases in sales are generally experienced in the third quarter of the year due to the european summer slowdown across all end markets . generally , the sales and costs and expenses of this segment are transacted in the local currency of the respective operations , which are mostly the u.s . dollar and the euro . in march 2015 , alcoa completed the acquisition of an aerospace castings company , tital , a privately held company with approximately 650 employees based in germany . tital produces aluminum and titanium investment casting products for the aerospace and defense end markets . in 2014 , tital generated sales of approximately $ 100 . the purpose of this acquisition is to capture increasing demand for advanced jet engine components made of titanium , establish titanium-casting capabilities in europe , and expand existing aluminum casting capacity . the operating results and assets and liabilities of tital were included within the engineered products and solutions segment since the date of acquisition . also in march 2015 , alcoa signed a definitive agreement to acquire rti international metals , inc . ( rti ) , a global supplier of titanium and specialty metal products and services for the commercial aerospace , defense , energy , and medical device end markets . on july 23 , 2015 , after satisfying all customary closing conditions and receiving the required regulatory and rti shareholder approvals , alcoa completed the acquisition of rti . the purpose of this acquisition is to expand alcoa 2019s range of titanium offerings and add advanced technologies and materials , primarily related to the aerospace end market . in 2014 , rti generated net sales of $ 794 and had approximately 2600 employees . alcoa estimates that rti will generate approximately $ 1200 in third-party sales by 2019 . in executing its integration plan for rti , alcoa expects to realize annual cost savings of approximately $ 100 by 2019 due to synergies derived from procurement and productivity improvements , leveraging alcoa 2019s global shared services , and driving profitable growth . the operating results and assets and liabilities of rti were included within the engineered products and solutions segment since the date of acquisition . on november 19 , 2014 , after satisfying all customary closing conditions and receiving the required regulatory approvals , alcoa completed the acquisition of firth rixson , a global leader in aerospace jet engine components . firth rixson manufactures rings , forgings , and metal products for the aerospace end market , as well as other markets requiring highly engineered material applications . the purpose of this acquisition is to strengthen alcoa 2019s aerospace business and position the company to capture additional aerospace growth with a broader range of high-growth , value- add jet engine components . this business generated sales of approximately $ 970 in 2014 and has 13 operating facilities in the united states , united kingdom , europe , and asia employing approximately 2400 people combined . in executing its integration plan for firth rixson , alcoa expects to realize annual cost savings of more than $ 100 by 2019 due to synergies derived from procurement and productivity improvements , optimizing internal metal supply , and leveraging alcoa 2019s global shared services . the operating results and assets and liabilities of firth rixson were included within the engineered products and solutions segment since the date of acquisition . third-party sales for the engineered products and solutions segment improved 27% ( 27 % ) in 2015 compared with 2014 , largely attributable to the third-party sales ( $ 1310 ) of three acquired businesses ( see above ) , primarily aerospace- related , and higher volumes in this segment 2019s organic businesses , mostly related to the aerospace end market . these positive impacts were slightly offset by unfavorable foreign currency movements , principally driven by a weaker euro. .
Question: what is the percentage of the three acquired businesses , that were responsible for the 27% ( 27 % ) improvement in third-party sales? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.58066 | 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 was the percent of the fully-insured smart plans and other consumer membership to the total commercial medical | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
48.09524 | Context:competition we compete in the global payment marketplace against all forms of payment , including paper- based forms ( principally cash and checks ) , card-based payments ( including credit , charge , debit , atm , prepaid , private-label and other types of general-purpose and limited-use cards ) and other electronic payments ( including wire transfers , electronic benefits transfers , automatic clearing house , or ach , payments and electronic data interchange ) . within the general purpose payment card industry , we face substantial and intense competition worldwide in the provision of payments services to financial institution customers and their cardholder merchants . the leading global card brands in the general purpose payment card industry are visa , mastercard , american express and diners club . other general-purpose card brands are more concentrated in specific geographic regions , such as jcb in japan and discover in the united states . in certain countries , our competitors have leading positions , such as china unionpay in china , which is the sole domestic inter-bank bankcard processor and operates the sole domestic bankcard acceptance mark in china due to local regulation . we also compete against private-label cards , which can generally be used to make purchases solely at the sponsoring retail store , gasoline retailer or other merchant . in the debit card market segment , visa and mastercard are the primary global brands . in addition , our interlink and visa electron brands compete with maestro , owned by mastercard , and various regional and country-specific debit network brands . in addition to our plus brand , the primary cash access card brands are cirrus , owned by mastercard , and many of the online debit network brands referenced above . in many countries , local debit brands are the primary brands , and our brands are used primarily to enable cross-border transactions , which typically constitute a small portion of overall transaction volume . see item 8 2014financial statements and supplementary data for financial information about geographic areas . based on payments volume , total volume , number of transactions and number of cards in circulation , visa is the largest retail electronic payments network in the world . the following chart compares our network with those of our major general-purpose payment network competitors for calendar year 2008 : company payments volume volume transactions cards ( billions ) ( billions ) ( billions ) ( millions ) visa inc. ( 1 ) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2727 $ 4346 56.7 1717 .
|company|payments volume ( billions )|total volume ( billions )|total transactions ( billions )|cards ( millions )|
|visa inc. ( 1 )|$ 2727|$ 4346|56.7|1717|
|mastercard|1900|2533|29.9|981|
|american express|673|683|5.3|92|
|discover|106|120|1.6|57|
|jcb|63|68|0.7|60|
|diners club|30|31|0.2|7|
( 1 ) visa inc . figures as reported on form 8-k filed with the sec on april 29 , 2009 . source : the nilson report , issue 924 ( april 2009 ) and issue 925 ( may 2009 ) . note : visa inc . figures exclude visa europe . figures for competitors include their respective european operations . visa figures include visa , visa electron , and interlink brands . the visa card figure includes plus-only cards ( with no visa logo ) in all regions except the united states , but plus cash volume is not included . domestic china figures including commercial funds transfers are excluded . mastercard includes pin-based debit card figures on mastercard cards , but not maestro or cirrus figures . american express includes business from third-party issuers . jcb figures are for april 2007 through march 2008 , but cards are as of september 2008 . transaction figures are estimates . figures include business from third-party issuers. .
Question: what is the average payment volume per transaction of visa inc? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.45811 | Context:the aggregate changes in the balance of gross unrecognized tax benefits , which excludes interest and penalties , for 2012 , 2011 , and 2010 , is as follows ( in millions ) : .
||2012|2011|2010|
|beginning balance|$ 1375|$ 943|$ 971|
|increases related to tax positions taken during a prior year|340|49|61|
|decreases related to tax positions taken during a prior year|-107 ( 107 )|-39 ( 39 )|-224 ( 224 )|
|increases related to tax positions taken during the current year|467|425|240|
|decreases related to settlements with taxing authorities|-3 ( 3 )|0|-102 ( 102 )|
|decreases related to expiration of statute of limitations|-10 ( 10 )|-3 ( 3 )|-3 ( 3 )|
|ending balance|$ 2062|$ 1375|$ 943|
the company includes interest and penalties related to unrecognized tax benefits within the provision for income taxes . as of september 29 , 2012 and september 24 , 2011 , the total amount of gross interest and penalties accrued was $ 401 million and $ 261 million , respectively , which is classified as non-current liabilities in the consolidated balance sheets . in connection with tax matters , the company recognized interest expense in 2012 and 2011 of $ 140 million and $ 14 million , respectively , and in 2010 the company recognized an interest benefit of $ 43 million . the company is subject to taxation and files income tax returns in the u.s . federal jurisdiction and in many state and foreign jurisdictions . for u.s . federal income tax purposes , all years prior to 2004 are closed . the internal revenue service ( the 201cirs 201d ) has completed its field audit of the company 2019s federal income tax returns for the years 2004 through 2006 and proposed certain adjustments . the company has contested certain of these adjustments through the irs appeals office . the irs is currently examining the years 2007 through 2009 . in addition , the company is also subject to audits by state , local and foreign tax authorities . in major states and major foreign jurisdictions , the years subsequent to 1989 and 2002 , respectively , generally remain open and could be subject to examination by the taxing authorities . management believes that an adequate provision has been made for any adjustments that may result from tax examinations . however , the outcome of tax audits cannot be predicted with certainty . if any issues addressed in the company 2019s tax audits are resolved in a manner not consistent with management 2019s expectations , the company could be required to adjust its provision for income tax in the period such resolution occurs . although timing of the resolution and/or closure of audits is not certain , the company believes it is reasonably possible that tax audit resolutions could reduce its unrecognized tax benefits by between $ 120 million and $ 170 million in the next 12 months . note 6 2013 shareholders 2019 equity and share-based compensation preferred stock the company has five million shares of authorized preferred stock , none of which is issued or outstanding . under the terms of the company 2019s restated articles of incorporation , the board of directors is authorized to determine or alter the rights , preferences , privileges and restrictions of the company 2019s authorized but unissued shares of preferred stock . dividend and stock repurchase program in 2012 , the board of directors of the company approved a dividend policy pursuant to which it plans to make , subject to subsequent declaration , quarterly dividends of $ 2.65 per share . on july 24 , 2012 , the board of directors declared a dividend of $ 2.65 per share to shareholders of record as of the close of business on august 13 , 2012 . the company paid $ 2.5 billion in conjunction with this dividend on august 16 , 2012 . no dividends were declared in the first three quarters of 2012 or in 2011 and 2010. .
Question: what was the percentage change in the gross unrecognized tax benefits between 2010 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: |
4.08333 | Context:mfc 2019s operating profit for 2013 increased $ 175 million , or 14% ( 14 % ) , compared to 2012 . the increase was primarily attributable to higher operating profit of approximately $ 85 million for air and missile defense programs ( thaad and pac-3 ) due to increased risk retirements and volume ; about $ 85 million for fire control programs ( sniper ae , lantirn ae and apache ) due to increased risk retirements and higher volume ; and approximately $ 75 million for tactical missile programs ( hellfire and various programs ) due to increased risk retirements . the increases were partially offset by lower operating profit of about $ 45 million for the resolution of contractual matters in the second quarter of 2012 ; and approximately $ 15 million for various technical services programs due to lower volume partially offset by increased risk retirements . adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 100 million higher for 2013 compared to 2012 . 2012 compared to 2011 mfc 2019s net sales for 2012 were comparable to 2011 . net sales decreased approximately $ 130 million due to lower volume and risk retirements on various services programs , and about $ 60 million due to lower volume from fire control systems programs ( primarily sniper ae ; lantirn ae ; and apache ) . the decreases largely were offset by higher net sales of approximately $ 95 million due to higher volume from tactical missile programs ( primarily javelin and hellfire ) and approximately $ 80 million for air and missile defense programs ( primarily pac-3 and thaad ) . mfc 2019s operating profit for 2012 increased $ 187 million , or 17% ( 17 % ) , compared to 2011 . the increase was attributable to higher risk retirements and volume of about $ 95 million from tactical missile programs ( primarily javelin and hellfire ) ; increased risk retirements and volume of approximately $ 60 million for air and missile defense programs ( primarily thaad and pac-3 ) ; and about $ 45 million from a resolution of contractual matters . partially offsetting these increases was lower risk retirements and volume on various programs , including $ 25 million for services programs . adjustments not related to volume , including net profit booking rate adjustments and other matters described above , were approximately $ 145 million higher for 2012 compared to 2011 . backlog backlog increased in 2013 compared to 2012 mainly due to higher orders on the thaad program and lower sales volume compared to new orders on certain fire control systems programs in 2013 , partially offset by lower orders on technical services programs and certain tactical missile programs . backlog increased in 2012 compared to 2011 mainly due to increased orders and lower sales on fire control systems programs ( primarily lantirn ae and sniper ae ) and on various services programs , partially offset by lower orders and higher sales volume on tactical missiles programs . trends we expect mfc 2019s net sales to be flat to slightly down in 2014 compared to 2013 , primarily due to a decrease in net sales on technical services programs partially offset by an increase in net sales from missiles and fire control programs . operating profit is expected to decrease in the high single digit percentage range , driven by a reduction in expected risk retirements in 2014 . accordingly , operating profit margin is expected to slightly decline from 2013 . mission systems and training our mst business segment provides ship and submarine mission and combat systems ; mission systems and sensors for rotary and fixed-wing aircraft ; sea and land-based missile defense systems ; radar systems ; littoral combat ships ; simulation and training services ; and unmanned systems and technologies . mst 2019s major programs include aegis combat system ( aegis ) , lcs , mh-60 , tpq-53 radar system , and mk-41 vertical launching system ( vls ) . mst 2019s operating results included the following ( in millions ) : .
||2013|2012|2011|
|net sales|$ 7153|$ 7579|$ 7132|
|operating profit|905|737|645|
|operating margins|12.7% ( 12.7 % )|9.7% ( 9.7 % )|9.0% ( 9.0 % )|
|backlog at year-end|10800|10700|10500|
2013 compared to 2012 mst 2019s net sales for 2013 decreased $ 426 million , or 6% ( 6 % ) , compared to 2012 . the decrease was primarily attributable to lower net sales of approximately $ 275 million for various ship and aviation systems programs due to lower volume .
Question: what was the ratio of the net increase sales leading to the net increase in the operating profit in 2012 to the net decrease in the sales | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-0.07692 | Context:table of contents other equity method investments infraservs . we hold indirect ownership interests in several german infraserv groups that own and develop industrial parks and provide on-site general and administrative support to tenants . our ownership interest in the equity investments in infraserv affiliates are as follows : as of december 31 , 2017 ( in percentages ) infraserv gmbh & co . gendorf kg ( 1 ) ................................................................................................... . 39 .
||as of december 31 2017 ( in percentages )|
|infraserv gmbh & co . gendorf kg ( 1 )|39|
|infraserv gmbh & co . hoechst kg|32|
|infraserv gmbh & co . knapsack kg ( 1 )|27|
infraserv gmbh & co . knapsack kg ( 1 ) ................................................................................................ . 27 ______________________________ ( 1 ) see note 29 - subsequent events in the accompanying consolidated financial statements for further information . research and development our business models leverage innovation and conduct research and development activities to develop new , and optimize existing , production technologies , as well as to develop commercially viable new products and applications . research and development expense was $ 72 million , $ 78 million and $ 119 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively . we consider the amounts spent during each of the last three fiscal years on research and development activities to be sufficient to execute our current strategic initiatives . intellectual property we attach importance to protecting our intellectual property , including safeguarding our confidential information and through our patents , trademarks and copyrights , in order to preserve our investment in research and development , manufacturing and marketing . patents may cover processes , equipment , products , intermediate products and product uses . we also seek to register trademarks as a means of protecting the brand names of our company and products . patents . in most industrial countries , patent protection exists for new substances and formulations , as well as for certain unique applications and production processes . however , we do business in regions of the world where intellectual property protection may be limited and difficult to enforce . confidential information . we maintain stringent information security policies and procedures wherever we do business . such information security policies and procedures include data encryption , controls over the disclosure and safekeeping of confidential information and trade secrets , as well as employee awareness training . trademarks . amcel ae , aoplus ae , ateva ae , avicor ae , celanese ae , celanex ae , celcon ae , celfx ae , celstran ae , celvolit ae , clarifoil ae , dur- o-set ae , ecomid ae , ecovae ae , forflex ae , forprene ae , frianyl ae , fortron ae , ghr ae , gumfit ae , gur ae , hostaform ae , laprene ae , metalx ae , mowilith ae , mt ae , nilamid ae , nivionplast ae , nutrinova ae , nylfor ae , pibiflex ae , pibifor ae , pibiter ae , polifor ae , resyn ae , riteflex ae , slidex ae , sofprene ae , sofpur ae , sunett ae , talcoprene ae , tecnoprene ae , thermx ae , tufcor ae , vantage ae , vectra ae , vinac ae , vinamul ae , vitaldose ae , zenite ae and certain other branded products and services named in this document are registered or reserved trademarks or service marks owned or licensed by celanese . the foregoing is not intended to be an exhaustive or comprehensive list of all registered or reserved trademarks and service marks owned or licensed by celanese . fortron ae is a registered trademark of fortron industries llc . hostaform ae is a registered trademark of hoechst gmbh . mowilith ae and nilamid ae are registered trademarks of celanese in most european countries . we monitor competitive developments and defend against infringements on our intellectual property rights . neither celanese nor any particular business segment is materially dependent upon any one patent , trademark , copyright or trade secret . environmental and other regulation matters pertaining to environmental and other regulations are discussed in item 1a . risk factors , as well as note 2 - summary of accounting policies , note 16 - environmental and note 24 - commitments and contingencies in the accompanying consolidated financial statements. .
Question: what is the percentage change in research and development expense from 2016 to 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: |
0.36154 | 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: home equity loans 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: |
0.23111 | Context:the aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2011 , 2010 , and 2009 20 . impairment expense asset impairment asset impairment expense for the year ended december 31 , 2011 consisted of : ( in millions ) .
||2011 ( in millions )|
|wind turbines & deposits|$ 116|
|tisza ii|52|
|kelanitissa|42|
|other|15|
|total|$ 225|
wind turbines & deposits 2014during the third quarter of 2011 , the company evaluated the future use of certain wind turbines held in storage pending their installation . due to reduced wind turbine market pricing and advances in turbine technology , the company determined it was more likely than not that the turbines would be sold significantly before the end of their previously estimated useful lives . in addition , the company has concluded that more likely than not non-refundable deposits it had made in prior years to a turbine manufacturer for the purchase of wind turbines are not recoverable . the company determined it was more likely than not that it would not proceed with the purchase of turbines due to the availability of more advanced and lower cost turbines in the market . these developments were more likely than not as of september 30 , 2011 and as a result were considered impairment indicators and the company determined that an impairment had occurred as of september 30 , 2011 as the aggregate carrying amount of $ 161 million of these assets was not recoverable and was reduced to their estimated fair value of $ 45 million determined under the market approach . this resulted in asset impairment expense of $ 116 million . wind generation is reported in the corporate and other segment . in january 2012 , the company forfeited the deposits for which a full impairment charge was recognized in the third quarter of 2011 , and there is no obligation for further payments under the related turbine supply agreement . additionally , the company sold some of the turbines held in storage during the fourth quarter of 2011 and is continuing to evaluate the future use of the turbines held in storage . the company determined it is more likely than not that they will be sold , however they are not being actively marketed for sale at this time as the company is reconsidering the potential use of the turbines in light of recent development activity at one of its advance stage development projects . it is reasonably possible that the turbines could incur further loss in value due to changing market conditions and advances in technology . tisza ii 2014during the fourth quarter of 2011 , tisza ii , a 900 mw gas and oil-fired generation plant in hungary entered into annual negotiations with its offtaker . as a result of these negotiations , as well as the further deterioration of the economic environment in hungary , the company determined that an indicator of impairment existed at december 31 , 2011 . thus , the company performed an asset impairment test and determined that based on the undiscounted cash flow analysis , the carrying amount of tisza ii asset group was not recoverable . the fair value of the asset group was then determined using a discounted cash flow analysis . the carrying value of the tisza ii asset group of $ 94 million exceeded the fair value of $ 42 million resulting in the recognition of asset impairment expense of $ 52 million during the three months ended december 31 , 2011 . tisza ii is reported in the europe generation reportable segment . kelanitissa 2014in 2011 , the company recognized asset impairment expense of $ 42 million for the long-lived assets of kelanitissa , our diesel-fired generation plant in sri lanka . we have continued to evaluate the recoverability of our long-lived assets at kelanitissa as a result of both the existing government regulation which .
Question: what percentage of asset impairment expense for the year ended december 31 , 2011 was related to tisza ii? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
1937.0 | Context:fy 11 | 53 the company paid income taxes of $ 60515 , $ 42116 , and $ 62965 in 2011 , 2010 , and 2009 , respectively . at june 30 , 2010 , the company had $ 7187 of unrecognized tax benefits . at june 30 , 2011 , the company had $ 8897 of unrecognized tax benefits , of which , $ 6655 , if recognized , would affect our effective tax rate . we had accrued interest and penalties of $ 1030 and $ 890 related to uncertain tax positions at june 30 , 2011 and 2010 , respectively . a reconciliation of the unrecognized tax benefits for the years ended june 30 , 2011 and 2010 follows : unrecognized tax benefits .
||unrecognized tax benefits|
|balance at july 1 2009|$ 5518|
|additions for current year tax positions|691|
|reductions for current year tax positions|-39 ( 39 )|
|additions for prior year tax positions|2049|
|reductions for prior year tax positions|-298 ( 298 )|
|settlements|-|
|reductions related to expirations of statute of limitations|-734 ( 734 )|
|balance at june 30 2010|7187|
|additions for current year tax positions|1338|
|reductions for current year tax positions|-|
|additions for prior year tax positions|599|
|reductions for prior year tax positions|-|
|settlements|-|
|reductions related to expirations of statute of limitations|-227 ( 227 )|
|balance at june 30 2011|$ 8897|
during the fiscal year ended june 30 , 2010 , the internal revenue service commenced an examination of the company 2019s u.s . federal income tax returns for fiscal years ended june 2008 through 2009 that is anticipated to be completed by the end of calendar year 2011 . at this time , it is anticipated that the examination will not result in a material change to the company 2019s financial position . the u.s . federal and state income tax returns for june 30 , 2008 and all subsequent years still remain subject to examination as of june 30 , 2011 under statute of limitations rules . we anticipate potential changes resulting from our irs examination and expiration of statutes of limitations could reduce the unrecognized tax benefits balance by $ 3000 - $ 4000 within twelve months of june 30 , 2011 . note 8 : industry and supplier concentrations the company sells its products to banks , credit unions , and financial institutions throughout the united states and generally does not require collateral . all billings to customers are due 30 days from date of billing . reserves ( which are insignificant at june 30 , 2011 , 2010 and 2009 ) are maintained for potential credit losses . in addition , the company purchases most of its computer hardware and related maintenance for resale in relation to installation of jha software systems from two suppliers . there are a limited number of hardware suppliers for these required items . if these relationships were terminated , it could have a significant negative impact on the future operations of the company . note 9 : stock based compensation plans our pre-tax operating income for the years ended june 30 , 2011 , 2010 and 2009 includes $ 4723 , $ 3251 and $ 2272 of stock-based compensation costs , respectively . total compensation cost for the years ended june 30 , 2011 , 2010 and 2009 includes $ 4209 , $ 2347 , and $ 1620 relating to the restricted stock plan , respectively. .
Question: during 2011 , what were the net additions for unrecognized tax benefits for all years? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.7907 | Context:see note 10 goodwill and other intangible assets for further discussion of the accounting for goodwill and other intangible assets . the estimated amount of rbc bank ( usa ) revenue and net income ( excluding integration costs ) included in pnc 2019s consolidated income statement for 2012 was $ 1.0 billion and $ 273 million , respectively . upon closing and conversion of the rbc bank ( usa ) transaction , subsequent to march 2 , 2012 , separate records for rbc bank ( usa ) as a stand-alone business have not been maintained as the operations of rbc bank ( usa ) have been fully integrated into pnc . rbc bank ( usa ) revenue and earnings disclosed above reflect management 2019s best estimate , based on information available at the reporting date . the following table presents certain unaudited pro forma information for illustrative purposes only , for 2012 and 2011 as if rbc bank ( usa ) had been acquired on january 1 , 2011 . the unaudited estimated pro forma information combines the historical results of rbc bank ( usa ) with the company 2019s consolidated historical results and includes certain adjustments reflecting the estimated impact of certain fair value adjustments for the respective periods . the pro forma information is not indicative of what would have occurred had the acquisition taken place on january 1 , 2011 . in particular , no adjustments have been made to eliminate the impact of other-than-temporary impairment losses and losses recognized on the sale of securities that may not have been necessary had the investment securities been recorded at fair value as of january 1 , 2011 . the unaudited pro forma information does not consider any changes to the provision for credit losses resulting from recording loan assets at fair value . additionally , the pro forma financial information does not include the impact of possible business model changes and does not reflect pro forma adjustments to conform accounting policies between rbc bank ( usa ) and pnc . additionally , pnc expects to achieve further operating cost savings and other business synergies , including revenue growth , as a result of the acquisition that are not reflected in the pro forma amounts that follow . as a result , actual results will differ from the unaudited pro forma information presented . table 57 : rbc bank ( usa ) and pnc unaudited pro forma results .
|in millions|for the year ended december 31 2012|for the year ended december 31 2011|
|total revenues|$ 15721|$ 15421|
|net income|2989|2911|
in connection with the rbc bank ( usa ) acquisition and other prior acquisitions , pnc recognized $ 267 million of integration charges in 2012 . pnc recognized $ 42 million of integration charges in 2011 in connection with prior acquisitions . the integration charges are included in the table above . sale of smartstreet effective october 26 , 2012 , pnc divested certain deposits and assets of the smartstreet business unit , which was acquired by pnc as part of the rbc bank ( usa ) acquisition , to union bank , n.a . smartstreet is a nationwide business focused on homeowner or community association managers and had approximately $ 1 billion of assets and deposits as of september 30 , 2012 . the gain on sale was immaterial and resulted in a reduction of goodwill and core deposit intangibles of $ 46 million and $ 13 million , respectively . results from operations of smartstreet from march 2 , 2012 through october 26 , 2012 are included in our consolidated income statement . flagstar branch acquisition effective december 9 , 2011 , pnc acquired 27 branches in the northern metropolitan atlanta , georgia area from flagstar bank , fsb , a subsidiary of flagstar bancorp , inc . the fair value of the assets acquired totaled approximately $ 211.8 million , including $ 169.3 million in cash , $ 24.3 million in fixed assets and $ 18.2 million of goodwill and intangible assets . we also assumed approximately $ 210.5 million of deposits associated with these branches . no deposit premium was paid and no loans were acquired in the transaction . our consolidated income statement includes the impact of the branch activity subsequent to our december 9 , 2011 acquisition . bankatlantic branch acquisition effective june 6 , 2011 , we acquired 19 branches in the greater tampa , florida area from bankatlantic , a subsidiary of bankatlantic bancorp , inc . the fair value of the assets acquired totaled $ 324.9 million , including $ 256.9 million in cash , $ 26.0 million in fixed assets and $ 42.0 million of goodwill and intangible assets . we also assumed approximately $ 324.5 million of deposits associated with these branches . a $ 39.0 million deposit premium was paid and no loans were acquired in the transaction . our consolidated income statement includes the impact of the branch activity subsequent to our june 6 , 2011 acquisition . sale of pnc global investment servicing on july 1 , 2010 , we sold pnc global investment servicing inc . ( gis ) , a leading provider of processing , technology and business intelligence services to asset managers , broker- dealers and financial advisors worldwide , for $ 2.3 billion in cash pursuant to a definitive agreement entered into on february 2 , 2010 . this transaction resulted in a pretax gain of $ 639 million , net of transaction costs , in the third quarter of 2010 . this gain and results of operations of gis through june 30 , 2010 are presented as income from discontinued operations , net of income taxes , on our consolidated income statement . as part of the sale agreement , pnc has agreed to provide certain transitional services on behalf of gis until completion of related systems conversion activities . 138 the pnc financial services group , inc . 2013 form 10-k .
Question: what was the percent of the cash in the fair value of the assets acquired | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.06302 | Context:the aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2010 , 2009 , and 2008 ( 3 ) multilateral loans include loans funded and guaranteed by bilaterals , multilaterals , development banks and other similar institutions . ( 4 ) non-recourse debt of $ 708 million as of december 31 , 2009 was excluded from non-recourse debt and included in current and long-term liabilities of held for sale and discontinued businesses in the accompanying consolidated balance sheets . non-recourse debt as of december 31 , 2010 is scheduled to reach maturity as set forth in the table below : december 31 , annual maturities ( in millions ) .
|december 31,|annual maturities ( in millions )|
|2011|$ 2577|
|2012|657|
|2013|953|
|2014|1839|
|2015|1138|
|thereafter|7957|
|total non-recourse debt|$ 15121|
as of december 31 , 2010 , aes subsidiaries with facilities under construction had a total of approximately $ 432 million of committed but unused credit facilities available to fund construction and other related costs . excluding these facilities under construction , aes subsidiaries had approximately $ 893 million in a number of available but unused committed revolving credit lines to support their working capital , debt service reserves and other business needs . these credit lines can be used in one or more of the following ways : solely for borrowings ; solely for letters of credit ; or a combination of these uses . the weighted average interest rate on borrowings from these facilities was 3.24% ( 3.24 % ) at december 31 , 2010 . non-recourse debt covenants , restrictions and defaults the terms of the company 2019s non-recourse debt include certain financial and non-financial covenants . these covenants are limited to subsidiary activity and vary among the subsidiaries . these covenants may include but are not limited to maintenance of certain reserves , minimum levels of working capital and limitations on incurring additional indebtedness . compliance with certain covenants may not be objectively determinable . as of december 31 , 2010 and 2009 , approximately $ 803 million and $ 653 million , respectively , of restricted cash was maintained in accordance with certain covenants of the non-recourse debt agreements , and these amounts were included within 201crestricted cash 201d and 201cdebt service reserves and other deposits 201d in the accompanying consolidated balance sheets . various lender and governmental provisions restrict the ability of certain of the company 2019s subsidiaries to transfer their net assets to the parent company . such restricted net assets of subsidiaries amounted to approximately $ 5.4 billion at december 31 , 2010. .
Question: what percentage of total non-recourse debt as of december 31 , 2010 is due 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: |
146.67571 | Context:the following table details the growth in global weighted average berths and the global , north american , european and asia/pacific cruise guests over the past five years ( in thousands , except berth data ) : weighted- average supply of berths marketed globally ( 1 ) caribbean cruises ltd . total berths ( 2 ) global cruise guests ( 1 ) american cruise guests ( 1 ) ( 3 ) european cruise guests ( 1 ) ( 4 ) asia/pacific cruise guests ( 1 ) ( 5 ) .
|year|weighted-averagesupply ofberthsmarketedglobally ( 1 )|royal caribbean cruises ltd . total berths ( 2 )|globalcruiseguests ( 1 )|north american cruise guests ( 1 ) ( 3 )|european cruise guests ( 1 ) ( 4 )|asia/pacific cruise guests ( 1 ) ( 5 )|
|2012|425000|98650|20813|11641|6225|1474|
|2013|432000|98750|21343|11710|6430|2045|
|2014|448000|105750|22039|12269|6387|2382|
|2015|469000|112700|23000|12004|6587|3129|
|2016|493000|123270|24000|12581|6542|3636|
_______________________________________________________________________________ ( 1 ) source : our estimates of the number of global cruise guests and the weighted-average supply of berths marketed globally are based on a combination of data that we obtain from various publicly available cruise industry trade information sources . we use data obtained from seatrade insider , cruise industry news and company press releases to estimate weighted-average supply of berths and clia and g.p . wild to estimate cruise guest information . in addition , our estimates incorporate our own statistical analysis utilizing the same publicly available cruise industry data as a base . ( 2 ) total berths include our berths related to our global brands and partner brands . ( 3 ) our estimates include the united states and canada . ( 4 ) our estimates include european countries relevant to the industry ( e.g. , nordics , germany , france , italy , spain and the united kingdom ) . ( 5 ) our estimates include the southeast asia ( e.g. , singapore , thailand and the philippines ) , east asia ( e.g. , china and japan ) , south asia ( e.g. , india and pakistan ) and oceanian ( e.g. , australia and fiji islands ) regions . north america the majority of industry cruise guests are sourced from north america , which represented approximately 52% ( 52 % ) of global cruise guests in 2016 . the compound annual growth rate in cruise guests sourced from this market was approximately 2% ( 2 % ) from 2012 to 2016 . europe industry cruise guests sourced from europe represented approximately 27% ( 27 % ) of global cruise guests in 2016 . the compound annual growth rate in cruise guests sourced from this market was approximately 1% ( 1 % ) from 2012 to 2016 . asia/pacific industry cruise guests sourced from the asia/pacific region represented approximately 15% ( 15 % ) of global cruise guests in 2016 . the compound annual growth rate in cruise guests sourced from this market was approximately 25% ( 25 % ) from 2012 to 2016 . the asia/pacific region is experiencing the highest growth rate of the major regions , although it will continue to represent a relatively small sector compared to north america . competition we compete with a number of cruise lines . our principal competitors are carnival corporation & plc , which owns , among others , aida cruises , carnival cruise line , costa cruises , cunard line , holland america line , p&o cruises , princess cruises and seabourn ; disney cruise line ; msc cruises ; and norwegian cruise line holdings ltd , which owns norwegian cruise line , oceania cruises and regent seven seas cruises . cruise lines compete with .
Question: what percentage increase in asian cruise guests occurred between 2012 and 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: |
-0.04054 | Context:note 17 . accumulated other comprehensive losses : pmi's accumulated other comprehensive losses , net of taxes , consisted of the following: .
|( losses ) earnings ( in millions )|( losses ) earnings 2014|( losses ) earnings 2013|2012|
|currency translation adjustments|$ -3929 ( 3929 )|$ -2207 ( 2207 )|$ -331 ( 331 )|
|pension and other benefits|-3020 ( 3020 )|-2046 ( 2046 )|-3365 ( 3365 )|
|derivatives accounted for as hedges|123|63|92|
|total accumulated other comprehensive losses|$ -6826 ( 6826 )|$ -4190 ( 4190 )|$ -3604 ( 3604 )|
reclassifications from other comprehensive earnings the movements in accumulated other comprehensive losses and the related tax impact , for each of the components above , that are due to current period activity and reclassifications to the income statement are shown on the consolidated statements of comprehensive earnings for the years ended december 31 , 2014 , 2013 , and 2012 . the movement in currency translation adjustments for the year ended december 31 , 2013 , was also impacted by the purchase of the remaining shares of the mexican tobacco business . in addition , $ 5 million and $ 12 million of net currency translation adjustment gains were transferred from other comprehensive earnings to marketing , administration and research costs in the consolidated statements of earnings for the years ended december 31 , 2014 and 2013 , respectively , upon liquidation of a subsidiary . for additional information , see note 13 . benefit plans and note 15 . financial instruments for disclosures related to pmi's pension and other benefits and derivative financial instruments . note 18 . colombian investment and cooperation agreement : on june 19 , 2009 , pmi announced that it had signed an agreement with the republic of colombia , together with the departments of colombia and the capital district of bogota , to promote investment and cooperation with respect to the colombian tobacco market and to fight counterfeit and contraband tobacco products . the investment and cooperation agreement provides $ 200 million in funding to the colombian governments over a 20-year period to address issues of mutual interest , such as combating the illegal cigarette trade , including the threat of counterfeit tobacco products , and increasing the quality and quantity of locally grown tobacco . as a result of the investment and cooperation agreement , pmi recorded a pre-tax charge of $ 135 million in the operating results of the latin america & canada segment during the second quarter of 2009 . at december 31 , 2014 and 2013 , pmi had $ 71 million and $ 74 million , respectively , of discounted liabilities associated with the colombian investment and cooperation agreement . these discounted liabilities are primarily reflected in other long-term liabilities on the consolidated balance sheets and are expected to be paid through 2028 . note 19 . rbh legal settlement : on july 31 , 2008 , rothmans inc . ( "rothmans" ) announced the finalization of a cad 550 million settlement ( or approximately $ 540 million , based on the prevailing exchange rate at that time ) between itself and rothmans , benson & hedges inc . ( "rbh" ) , on the one hand , and the government of canada and all 10 provinces , on the other hand . the settlement resolved the royal canadian mounted police's investigation relating to products exported from canada by rbh during the 1989-1996 period . rothmans' sole holding was a 60% ( 60 % ) interest in rbh . the remaining 40% ( 40 % ) interest in rbh was owned by pmi. .
Question: what is the percentage change in discounted liabilities 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: |
0.54579 | Context:23t . rowe price group | annual report 2013 contractual obligations the following table presents a summary of our future obligations ( in millions ) under the terms of existing operating leases and other contractual cash purchase commitments at december 31 , 2013 . other purchase commitments include contractual amounts that will be due for the purchase of goods or services to be used in our operations and may be cancelable at earlier times than those indicated , under certain conditions that may involve termination fees . because these obligations are generally of a normal recurring nature , we expect that we will fund them from future cash flows from operations . the information presented does not include operating expenses or capital expenditures that will be committed in the normal course of operations in 2014 and future years . the information also excludes the $ 4.8 million of uncertain tax positions discussed in note 8 to our consolidated financial statements because it is not possible to estimate the time period in which a payment might be made to the tax authorities. .
||total|2014|2015-16|2017-18|later|
|noncancelable operating leases|$ 124|$ 32|$ 57|$ 25|$ 10|
|other purchase commitments|149|108|34|7|2014|
|total|$ 273|$ 140|$ 91|$ 32|$ 10|
we also have outstanding commitments to fund additional contributions to investment partnerships totaling $ 40.7 million at december 31 , 2013 . the vast majority of these additional contributions will be made to investment partnerships in which we have an existing investment . in addition to such amounts , a percentage of prior distributions may be called under certain circumstances . in january 2014 , we renewed and extended our operating lease at our corporate headquarters in baltimore , maryland through 2027 . this lease agreement increases the above disclosed total noncancelable operating lease commitments by an additional $ 133.0 million , the vast majority of which will be paid after 2018 . critical accounting policies the preparation of financial statements often requires the selection of specific accounting methods and policies from among several acceptable alternatives . further , significant estimates and judgments may be required in selecting and applying those methods and policies in the recognition of the assets and liabilities in our consolidated balance sheets , the revenues and expenses in our consolidated statements of income , and the information that is contained in our significant accounting policies and notes to consolidated financial statements . making these estimates and judgments requires the analysis of information concerning events that may not yet be complete and of facts and circumstances that may change over time . accordingly , actual amounts or future results can differ materially from those estimates that we include currently in our consolidated financial statements , significant accounting policies , and notes . we present those significant accounting policies used in the preparation of our consolidated financial statements as an integral part of those statements within this 2013 annual report . in the following discussion , we highlight and explain further certain of those policies that are most critical to the preparation and understanding of our financial statements . other-than-temporary impairments of available-for-sale securities . we generally classify our investment holdings in sponsored funds as available-for-sale if we are not deemed to a have a controlling financial interest . at the end of each quarter , we mark the carrying amount of each investment holding to fair value and recognize an unrealized gain or loss as a component of comprehensive income within the consolidated statements of comprehensive income . we next review each individual security position that has an unrealized loss or impairment to determine if that impairment is other than temporary . in determining whether a mutual fund holding is other-than-temporarily impaired , we consider many factors , including the duration of time it has existed , the severity of the impairment , any subsequent changes in value , and our intent and ability to hold the security for a period of time sufficient for an anticipated recovery in fair value . subject to the other considerations noted above , we believe a fund holding with an unrealized loss that has persisted daily throughout the six months between quarter-ends is generally presumed to have an other-than-temporary impairment . we may also recognize an other-than-temporary loss of less than six months in our consolidated statements of income if the particular circumstances of the underlying investment do not warrant our belief that a near-term recovery is possible. .
Question: what percent of the total future obligations in 2014 are from other purchase commitments? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-0.04844 | Context:republic services , inc . notes to consolidated financial statements 2014 ( continued ) 11 . employee benefit plans stock-based compensation in february 2007 , our board of directors approved the 2007 stock incentive plan ( 2007 plan ) , and in may 2007 our shareholders ratified the 2007 plan . in march 2011 , our board of directors approved the amended and restated 2007 stock incentive plan , and in may 2011 our shareholders ratified the amended and restated 2007 stock incentive plan . in march 2013 , our board of directors approved the republic services , inc . amended and restated 2007 stock incentive plan ( the amended and restated plan ) , and in may 2013 our shareholders ratified the amended and restated plan . we currently have approximately 15.6 million shares of common stock reserved for future grants under the amended and restated plan . options granted under the 2007 plan and the amended and restated plan are non-qualified and are granted at a price equal to the fair market value of our common stock at the date of grant . generally , options granted have a term of seven to ten years from the date of grant , and vest in increments of 25% ( 25 % ) per year over a period of four years beginning on the first anniversary date of the grant . options granted to non-employee directors have a term of ten years and are fully vested at the grant date . 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 , to reflect 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 2014 and 2013 ) and expected life of the options . when appropriate , separate groups of employees that have similar historical exercise behavior are considered separately for valuation purposes . we did not grant stock options during the year ended december 31 , 2015 . the weighted-average estimated fair values of stock options granted during the years ended december 31 , 2014 and 2013 were $ 5.74 and $ 5.27 per option , respectively , which were calculated using the following weighted-average assumptions: .
||2014|2013|
|expected volatility|27.5% ( 27.5 % )|28.9% ( 28.9 % )|
|risk-free interest rate|1.4% ( 1.4 % )|0.7% ( 0.7 % )|
|dividend yield|3.2% ( 3.2 % )|3.2% ( 3.2 % )|
|expected life ( in years )|4.6|4.5|
|contractual life ( in years )|7.0|7.0|
.
Question: what was the percent of decline in the expected volatility 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: |
0.00505 | Context:interest rate derivatives . in connection with the issuance of floating rate debt in august and october 2008 , the company entered into three interest rate swap contracts , designated as cash flow hedges , for purposes of hedging against a change in interest payments due to fluctuations in the underlying benchmark rate . in december 2010 , the company approved a plan to refinance the term loan in january 2011 resulting in an $ 8.6 million loss on derivative instruments as a result of ineffectiveness on the associated interest rate swap contract . to mitigate counterparty credit risk , the interest rate swap contracts required collateralization by both counterparties for the swaps 2019 aggregate net fair value during their respective terms . collateral was maintained in the form of cash and adjusted on a daily basis . in february 2010 , the company entered into a forward starting interest rate swap contract , designated as a cash flow hedge , for purposes of hedging against a change in interest payments due to fluctuations in the underlying benchmark rate between the date of the swap and the forecasted issuance of fixed rate debt in march 2010 . the swap was highly effective . foreign currency derivatives . in connection with its purchase of bm&fbovespa stock in february 2008 , cme group purchased a put option to hedge against changes in the fair value of bm&fbovespa stock resulting from foreign currency rate fluctuations between the u.s . dollar and the brazilian real ( brl ) beyond the option 2019s exercise price . lehman brothers special financing inc . ( lbsf ) was the sole counterparty to this option contract . on september 15 , 2008 , lehman brothers holdings inc . ( lehman ) filed for protection under chapter 11 of the united states bankruptcy code . the bankruptcy filing of lehman was an event of default that gave the company the right to immediately terminate the put option agreement with lbsf . in march 2010 , the company recognized a $ 6.0 million gain on derivative instruments as a result of a settlement from the lehman bankruptcy proceedings . 21 . capital stock shares outstanding . the following table presents information regarding capital stock: .
|( in thousands )|december 31 , 2010|december 31 , 2009|
|shares authorized|1000000|1000000|
|class a common stock|66847|66511|
|class b-1 common stock|0.6|0.6|
|class b-2 common stock|0.8|0.8|
|class b-3 common stock|1.3|1.3|
|class b-4 common stock|0.4|0.4|
cme group has no shares of preferred stock issued and outstanding . associated trading rights . members of cme , cbot , nymex and comex own or lease trading rights which entitle them to access the trading floors , discounts on trading fees and the right to vote on certain exchange matters as provided for by the rules of the particular exchange and cme group 2019s or the subsidiaries 2019 organizational documents . each class of cme group class b common stock is associated with a membership in a specific division for trading at cme . a cme trading right is a separate asset that is not part of or evidenced by the associated share of class b common stock of cme group . the class b common stock of cme group is intended only to ensure that the class b shareholders of cme group retain rights with respect to representation on the board of directors and approval rights with respect to the core rights described below . trading rights at cbot are evidenced by class b memberships in cbot , at nymex by class a memberships in nymex and at comex by comex division memberships in comex . members of the cbot , nymex and comex exchanges do not have any rights to elect members of the board of directors and are not entitled to receive dividends or other distributions on their memberships . the company is , however , required to have at least 10 cbot directors ( as defined by its bylaws ) until its 2012 annual meeting. .
Question: what is the estimated percentual increase observed in the class a common stock during the years 2009 and 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: |
0.65672 | Context:customer demand . this compared with 555000 tons of total downtime in 2006 of which 150000 tons related to lack-of-orders . printing papers in millions 2007 2006 2005 .
|in millions|2007|2006|2005|
|sales|$ 6530|$ 6700|$ 6980|
|operating profit|$ 1101|$ 636|$ 434|
north american printing papers net sales in 2007 were $ 3.5 billion compared with $ 4.4 billion in 2006 ( $ 3.5 billion excluding the coated and super- calendered papers business ) and $ 4.8 billion in 2005 ( $ 3.2 billion excluding the coated and super- calendered papers business ) . sales volumes decreased in 2007 versus 2006 partially due to reduced production capacity resulting from the conversion of the paper machine at the pensacola mill to the production of lightweight linerboard for our industrial packaging segment . average sales price realizations increased significantly , reflecting benefits from price increases announced throughout 2007 . lack-of-order downtime declined to 27000 tons in 2007 from 40000 tons in 2006 . operating earnings of $ 537 million in 2007 increased from $ 482 million in 2006 ( $ 407 million excluding the coated and supercalendered papers business ) and $ 175 million in 2005 ( $ 74 million excluding the coated and supercalendered papers business ) . the benefits from improved average sales price realizations more than offset the effects of higher input costs for wood , energy , and freight . mill operations were favorable compared with the prior year due to current-year improvements in machine performance and energy conservation efforts . sales volumes for the first quarter of 2008 are expected to increase slightly , and the mix of prod- ucts sold to improve . demand for printing papers in north america was steady as the quarter began . price increases for cut-size paper and roll stock have been announced that are expected to be effective principally late in the first quarter . planned mill maintenance outage costs should be about the same as in the fourth quarter ; however , raw material costs are expected to continue to increase , primarily for wood and energy . brazil ian papers net sales for 2007 of $ 850 mil- lion were higher than the $ 495 million in 2006 and the $ 465 million in 2005 . compared with 2006 , aver- age sales price realizations improved reflecting price increases for uncoated freesheet paper realized dur- ing the second half of 2006 and the first half of 2007 . excluding the impact of the luiz antonio acquisition , sales volumes increased primarily for cut size and offset paper . operating profits for 2007 of $ 246 mil- lion were up from $ 122 million in 2006 and $ 134 mil- lion in 2005 as the benefits from higher sales prices and favorable manufacturing costs were only parti- ally offset by higher input costs . contributions from the luiz antonio acquisition increased net sales by approximately $ 350 million and earnings by approx- imately $ 80 million in 2007 . entering 2008 , sales volumes for uncoated freesheet paper and pulp should be seasonally lower . average price realizations should be essentially flat , but mar- gins are expected to reflect a less favorable product mix . energy costs , primarily for hydroelectric power , are expected to increase significantly reflecting a lack of rainfall in brazil in the latter part of 2007 . european papers net sales in 2007 were $ 1.5 bil- lion compared with $ 1.3 billion in 2006 and $ 1.2 bil- lion in 2005 . sales volumes in 2007 were higher than in 2006 at our eastern european mills reflecting stronger market demand and improved efficiencies , but lower in western europe reflecting the closure of the marasquel mill in 2006 . average sales price real- izations increased significantly in 2007 in both east- ern and western european markets . operating profits of $ 214 million in 2007 increased from a loss of $ 16 million in 2006 and earnings of $ 88 million in 2005 . the loss in 2006 reflects the impact of a $ 128 million impairment charge to reduce the carrying value of the fixed assets at the saillat , france mill . excluding this charge , the improvement in 2007 compared with 2006 reflects the contribution from higher net sales , partially offset by higher input costs for wood , energy and freight . looking ahead to the first quarter of 2008 , sales volumes are expected to be stable in western europe , but seasonally weaker in eastern europe and russia . average price realizations are expected to remain about flat . wood costs are expected to increase , especially in russia due to strong demand ahead of tariff increases , and energy costs are anticipated to be seasonally higher . asian printing papers net sales were approx- imately $ 20 million in 2007 , compared with $ 15 mil- lion in 2006 and $ 10 million in 2005 . operating earnings increased slightly in 2007 , but were close to breakeven in all periods . u.s . market pulp sales in 2007 totaled $ 655 mil- lion compared with $ 510 million and $ 525 million in 2006 and 2005 , respectively . sales volumes in 2007 were up from 2006 levels , primarily for paper and .
Question: what percent of printing papers sales in 2006 was from north american printing papers net sales? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-0.08333 | Context:the company has also encountered various quality issues on its aircraft carrier construction and overhaul programs and its virginia-class submarine construction program at its newport news location . these primarily involve matters related to filler metal used in pipe welds identified in 2007 , and issues associated with non-nuclear weld inspection and the installation of weapons handling equipment on certain submarines , and certain purchased material quality issues identified in 2009 . the company does not believe that resolution of these issues will have a material effect upon its consolidated financial position , results of operations or cash flows . environmental matters 2014the estimated cost to complete environmental remediation has been accrued where it is probable that the company will incur such costs in the future to address environmental conditions at currently or formerly owned or leased operating facilities , or at sites where it has been named a potentially responsible party ( 201cprp 201d ) by the environmental protection agency , or similarly designated by another environmental agency , and these costs can be estimated by management . these accruals do not include any litigation costs related to environmental matters , nor do they include amounts recorded as asset retirement obligations . to assess the potential impact on the company 2019s consolidated financial statements , management estimates the range of reasonably possible remediation costs that could be incurred by the company , taking into account currently available facts on each site as well as the current state of technology and prior experience in remediating contaminated sites . these estimates are reviewed periodically and adjusted to reflect changes in facts and technical and legal circumstances . management estimates that as of december 31 , 2011 , the probable future costs for environmental remediation is $ 3 million , which is accrued in other current liabilities . factors that could result in changes to the company 2019s estimates include : modification of planned remedial actions , increases or decreases in the estimated time required to remediate , changes to the determination of legally responsible parties , discovery of more extensive contamination than anticipated , changes in laws and regulations affecting remediation requirements , and improvements in remediation technology . should other prps not pay their allocable share of remediation costs , the company may have to incur costs exceeding those already estimated and accrued . in addition , there are certain potential remediation sites where the costs of remediation cannot be reasonably estimated . although management cannot predict whether new information gained as projects progress will materially affect the estimated liability accrued , management does not believe that future remediation expenditures will have a material effect on the company 2019s consolidated financial position , results of operations or cash flows . financial arrangements 2014in the ordinary course of business , hii uses standby letters of credit issued by commercial banks and surety bonds issued by insurance companies principally to support the company 2019s self-insured workers 2019 compensation plans . at december 31 , 2011 , there were $ 121 million of standby letters of credit issued but undrawn and $ 297 million of surety bonds outstanding related to hii . u.s . government claims 2014from time to time , the u.s . government advises the company of claims and penalties concerning certain potential disallowed costs . when such findings are presented , the company and u.s . government representatives engage in discussions to enable hii to evaluate the merits of these claims as well as to assess the amounts being claimed . the company does not believe that the outcome of any such matters will have a material effect on its consolidated financial position , results of operations or cash flows . collective bargaining agreements 2014the company believes that it maintains good relations with its approximately 38000 employees of which approximately 50% ( 50 % ) are covered by a total of 10 collective bargaining agreements . the company expects to renegotiate renewals of each of its collective bargaining agreements between 2013 and 2015 as they approach expiration . collective bargaining agreements generally expire after three to five years and are subject to renegotiation at that time . it is not expected that the results of these negotiations , either individually or in the aggregate , will have a material effect on the company 2019s consolidated results of operations . operating leases 2014rental expense for operating leases was $ 44 million in 2011 , $ 44 million in 2010 , and $ 48 million in 2009 . these amounts are net of immaterial amounts of sublease rental income . minimum rental commitments under long- term non-cancellable operating leases for the next five years and thereafter are : ( $ in millions ) .
|2012|$ 21|
|2013|17|
|2014|15|
|2015|13|
|2016|10|
|thereafter|48|
|total|$ 124|
.
Question: what is the percentage change in rent expenses for operating leases in 2010 compare 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: |
Subsets and Splits