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0.26604 | Context:note 3 . business combinations purchase combinations . during the fiscal years presented , the company made a number of purchase acquisitions . for each acquisition , the excess of the purchase price over the estimated value of the net tangible assets acquired was allocated to various intangible assets , consisting primarily of developed technology , customer and contract-related assets and goodwill . the values assigned to developed technologies related to each acquisition were based upon future discounted cash flows related to the existing products 2019 projected income streams . goodwill , representing the excess of the purchase consideration over the fair value of tangible and identifiable intangible assets acquired in the acquisitions , will not to be amortized . goodwill is not deductible for tax purposes . the amounts allocated to purchased in-process research and developments were determined through established valuation techniques in the high-technology industry and were expensed upon acquisition because technological feasibility had not been established and no future alternative uses existed . the consolidated financial statements include the operating results of each business from the date of acquisition . the company does not consider these acquisitions to be material to its results of operations and is therefore not presenting pro forma statements of operations for the fiscal years ended october 31 , 2006 , 2005 and 2004 . fiscal 2006 acquisitions sigma-c software ag ( sigma-c ) the company acquired sigma-c on august 16 , 2006 in an all-cash transaction . reasons for the acquisition . sigma-c provides simulation software that allows semiconductor manufacturers and their suppliers to develop and optimize process sequences for optical lithography , e-beam lithography and next-generation lithography technologies . the company believes the acquisition will enable a tighter integration between design and manufacturing tools , allowing the company 2019s customers to perform more accurate design layout analysis with 3d lithography simulation and better understand issues that affect ic wafer yields . purchase price . the company paid $ 20.5 million in cash for the outstanding shares and shareholder notes of which $ 2.05 million was deposited with an escrow agent and will be paid per the escrow agreement . the company believes that the escrow amount will be paid . the total purchase consideration consisted of: .
||( in thousands )|
|cash paid|$ 20500|
|acquisition-related costs|2053|
|total purchase price|$ 22553|
acquisition-related costs of $ 2.1 million consist primarily of legal , tax and accounting fees , estimated facilities closure costs and employee termination costs . as of october 31 , 2006 , the company had paid $ 0.9 million of the acquisition-related costs . the $ 1.2 million balance remaining at october 31 , 2006 primarily consists of legal , tax and accounting fees , estimated facilities closure costs and employee termination costs . assets acquired . the company performed a preliminary valuation and allocated the total purchase consideration to assets and liabilities . the company acquired $ 6.0 million of intangible assets consisting of $ 3.9 million in existing technology , $ 1.9 million in customer relationships and $ 0.2 million in trade names to be amortized over five years . the company also acquired assets of $ 3.9 million and assumed liabilities of $ 5.1 million as result of this transaction . goodwill , representing the excess of the purchase price over the .
Question: what percentage of the total purchase price was intangible assets? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.00212 | Context:item 15 . exhibits , financial statement schedules . ( continued ) kinder morgan , inc . form 10-k .
|kinder morgan liquids terminals llc-n.j . development revenue bonds due january 15 2018 kinder morgan columbus llc-5.50% ( llc-5.50 % ) ms development revenue note due september 1 2022|25.0 8.2|25.0 8.2|
|kinder morgan operating l.p . 201cb 201d-jackson-union cos . il revenue bonds due april 1 2024|23.7|23.7|
|international marine terminals-plaquemines la revenue bonds due march 15 2025|40.0|40.0|
|other miscellaneous subsidiary debt|1.3|1.3|
|unamortized debt discount on long-term debt|-20.3 ( 20.3 )|-21.2 ( 21.2 )|
|current maturities of long-term debt|-1263.3 ( 1263.3 )|-596.6 ( 596.6 )|
|total long-term debt 2013 kmp|$ 10282.8|$ 10007.5|
____________ ( a ) as a result of the implementation of asu 2009-17 , effective january 1 , 2010 , we ( i ) include the transactions and balances of our business trust , k n capital trust i and k n capital trust iii , in our consolidated financial statements and ( ii ) no longer include our junior subordinated deferrable interest debentures issued to the capital trusts ( see note 18 201crecent accounting pronouncements 201d ) . ( b ) kmp issued its $ 500 million in principal amount of 9.00% ( 9.00 % ) senior notes due february 1 , 2019 in december 2008 . each holder of the notes has the right to require kmp to repurchase all or a portion of the notes owned by such holder on february 1 , 2012 at a purchase price equal to 100% ( 100 % ) of the principal amount of the notes tendered by the holder plus accrued and unpaid interest to , but excluding , the repurchase date . on and after february 1 , 2012 , interest will cease to accrue on the notes tendered for repayment . a holder 2019s exercise of the repurchase option is irrevocable . kinder morgan kansas , inc . the 2028 and 2098 debentures and the 2012 and 2015 senior notes are redeemable in whole or in part , at kinder morgan kansas , inc . 2019s option at any time , at redemption prices defined in the associated prospectus supplements . the 2027 debentures are redeemable in whole or in part , at kinder morgan kansas , inc . 2019s option after november 1 , 2004 at redemption prices defined in the associated prospectus supplements . on september 2 , 2010 , kinder morgan kansas , inc . paid the remaining $ 1.1 million principal balance outstanding on kinder morgan kansas , inc . 2019s 6.50% ( 6.50 % ) series debentures , due 2013 . kinder morgan finance company , llc on december 20 , 2010 , kinder morgan finance company , llc , a wholly owned subsidiary of kinder morgan kansas , inc. , completed a public offering of senior notes . it issued a total of $ 750 million in principal amount of 6.00% ( 6.00 % ) senior notes due january 15 , 2018 . net proceeds received from the issuance of the notes , after underwriting discounts and commissions , were $ 744.2 million , which were used to retire the principal amount of the 5.35% ( 5.35 % ) senior notes that matured on january 5 , 2011 . the 2011 , 2016 , 2018 and 2036 senior notes issued by kinder morgan finance company , llc are redeemable in whole or in part , at kinder morgan kansas , inc . 2019s option at any time , at redemption prices defined in the associated prospectus supplements . each series of these notes is fully and unconditionally guaranteed by kinder morgan kansas , inc . on a senior unsecured basis as to principal , interest and any additional amounts required to be paid as a result of any withholding or deduction for canadian taxes . capital trust securities kinder morgan kansas , inc . 2019s business trusts , k n capital trust i and k n capital trust iii , are obligated for $ 12.7 million of 8.56% ( 8.56 % ) capital trust securities maturing on april 15 , 2027 and $ 14.4 million of 7.63% ( 7.63 % ) capital trust securities maturing on april 15 , 2028 , respectively , which it guarantees . the 2028 securities are redeemable in whole or in part , at kinder morgan kansas , inc . 2019s option at any time , at redemption prices as defined in the associated prospectus . the 2027 securities are redeemable in whole or in part at kinder morgan kansas , inc . 2019s option and at any time in certain limited circumstances upon the occurrence of certain events and at prices , all defined in the associated prospectus supplements . upon redemption by kinder morgan kansas , inc . or at maturity of the junior subordinated deferrable interest debentures , it must use the proceeds to make redemptions of the capital trust securities on a pro rata basis. .
Question: what is the value of unamortized debt discount on long-term debt as a percent of total long-term debt for the second column? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
33.5 | Context:the net decrease in the 2016 effective tax rate was due , in part , to the 2016 asset impairments in the u.s . and to the current year benefit related to a restructuring of one of our brazilian businesses that increases tax basis in long-term assets . further , the 2015 rate was impacted by the items described below . see note 20 2014asset impairment expense for additional information regarding the 2016 u.s . asset impairments . income tax expense increased $ 101 million , or 27% ( 27 % ) , to $ 472 million in 2015 . the company's effective tax rates were 41% ( 41 % ) and 26% ( 26 % ) for the years ended december 31 , 2015 and 2014 , respectively . the net increase in the 2015 effective tax rate was due , in part , to the nondeductible 2015 impairment of goodwill at our u.s . utility , dp&l and chilean withholding taxes offset by the release of valuation allowance at certain of our businesses in brazil , vietnam and the u.s . further , the 2014 rate was impacted by the sale of approximately 45% ( 45 % ) of the company 2019s interest in masin aes pte ltd. , which owns the company 2019s business interests in the philippines and the 2014 sale of the company 2019s interests in four u.k . wind operating projects . neither of these transactions gave rise to income tax expense . see note 15 2014equity for additional information regarding the sale of approximately 45% ( 45 % ) of the company 2019s interest in masin-aes pte ltd . see note 23 2014dispositions for additional information regarding the sale of the company 2019s interests in four u.k . wind operating projects . our effective tax rate reflects the tax effect of significant operations outside the u.s. , which are generally taxed at rates lower than the u.s . statutory rate of 35% ( 35 % ) . a future proportionate change in the composition of income before income taxes from foreign and domestic tax jurisdictions could impact our periodic effective tax rate . the company also benefits from reduced tax rates in certain countries as a result of satisfying specific commitments regarding employment and capital investment . see note 21 2014income taxes for additional information regarding these reduced rates . foreign currency transaction gains ( losses ) foreign currency transaction gains ( losses ) in millions were as follows: .
|years ended december 31,|2016|2015|2014|
|aes corporation|$ -50 ( 50 )|$ -31 ( 31 )|$ -34 ( 34 )|
|chile|-9 ( 9 )|-18 ( 18 )|-30 ( 30 )|
|colombia|-8 ( 8 )|29|17|
|mexico|-8 ( 8 )|-6 ( 6 )|-14 ( 14 )|
|philippines|12|8|11|
|united kingdom|13|11|12|
|argentina|37|124|66|
|other|-2 ( 2 )|-10 ( 10 )|-17 ( 17 )|
|total ( 1 )|$ -15 ( 15 )|$ 107|$ 11|
total ( 1 ) $ ( 15 ) $ 107 $ 11 _____________________________ ( 1 ) includes gains of $ 17 million , $ 247 million and $ 172 million on foreign currency derivative contracts for the years ended december 31 , 2016 , 2015 and 2014 , respectively . the company recognized a net foreign currency transaction loss of $ 15 million for the year ended december 31 , 2016 primarily due to losses of $ 50 million at the aes corporation mainly due to remeasurement losses on intercompany notes , and losses on swaps and options . this loss was partially offset by gains of $ 37 million in argentina , mainly due to the favorable impact of foreign currency derivatives related to government receivables . the company recognized a net foreign currency transaction gain of $ 107 million for the year ended december 31 , 2015 primarily due to gains of : 2022 $ 124 million in argentina , due to the favorable impact from foreign currency derivatives related to government receivables , partially offset by losses from the devaluation of the argentine peso associated with u.s . dollar denominated debt , and losses at termoandes ( a u.s . dollar functional currency subsidiary ) primarily associated with cash and accounts receivable balances in local currency , 2022 $ 29 million in colombia , mainly due to the depreciation of the colombian peso , positively impacting chivor ( a u.s . dollar functional currency subsidiary ) due to liabilities denominated in colombian pesos , 2022 $ 11 million in the united kingdom , mainly due to the depreciation of the pound sterling , resulting in gains at ballylumford holdings ( a u.s . dollar functional currency subsidiary ) associated with intercompany notes payable denominated in pound sterling , and .
Question: what was the average effective tax rate for december 31 , 2015 and 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: |
0.64286 | Context:asset category target allocation total quoted prices in active markets for identical assets ( level 1 ) significant observable inputs ( level 2 ) significant unobservable inputs .
||level 3|
|balance as of january 1 2018|$ 278|
|actual return on assets|-23 ( 23 )|
|purchases issuances and settlements net|-25 ( 25 )|
|balance as of december 31 2018|$ 230|
balance as of january 1 , 2017 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 140 actual return on assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 purchases , issuances and settlements , net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 136 balance as of december 31 , 2017 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 278 the company 2019s postretirement benefit plans have different levels of funded status and the assets are held under various trusts . the investments and risk mitigation strategies for the plans are tailored specifically for each trust . in setting new strategic asset mixes , consideration is given to the likelihood that the selected asset allocation will effectively fund the projected plan liabilities and meet the risk tolerance criteria of the company . the company periodically updates the long-term , strategic asset allocations for these plans through asset liability studies and uses various analytics to determine the optimal asset allocation . considerations include plan liability characteristics , liquidity needs , funding requirements , expected rates of return and the distribution of returns . in 2012 , the company implemented a de-risking strategy for the american water pension plan after conducting an asset-liability study to reduce the volatility of the funded status of the plan . as part of the de-risking strategy , the company revised the asset allocations to increase the matching characteristics of fixed- income assets relative to liabilities . the fixed income portion of the portfolio was designed to match the bond- .
Question: by what percentage level 3 balance increase from 2017 to 2018? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.56199 | Context:acquisition date ) . realex is a leading european online payment gateway technology provider . this acquisition furthered our strategy to provide omnichannel solutions that combine gateway services , payment service provisioning and payment technology services across europe . this transaction was accounted for as a business combination . we recorded the assets acquired , liabilities assumed and noncontrolling interest at their estimated fair values as of the acquisition date . on october 5 , 2015 , we paid 20ac6.7 million ( $ 7.5 million equivalent as of october 5 , 2015 ) to acquire the remaining shares of realex , after which we own 100% ( 100 % ) of the outstanding shares . the estimated acquisition date fair values of the assets acquired , liabilities assumed and the noncontrolling interest , including a reconciliation to the total purchase consideration , are as follows ( in thousands ) : .
|cash|$ 4082|
|customer-related intangible assets|16079|
|acquired technology|39820|
|trade name|3453|
|other intangible assets|399|
|other assets|6213|
|liabilities|-3479 ( 3479 )|
|deferred income tax liabilities|-7216 ( 7216 )|
|total identifiable net assets|59351|
|goodwill|66809|
|noncontrolling interest|-7280 ( 7280 )|
|total purchase consideration|$ 118880|
goodwill of $ 66.8 million arising from the acquisition , included in the europe segment , was attributable to expected growth opportunities in europe , potential synergies from combining our existing business with gateway services and payment service provisioning in certain markets and an assembled workforce to support the newly acquired technology . goodwill associated with this acquisition is not deductible for income tax purposes . the customer-related intangible assets have an estimated amortization period of 16 years . the acquired technology has an estimated amortization of 10 years . the trade name has an estimated amortization period of 7 years . ezidebit on october 10 , 2014 , we completed the acquisition of 100% ( 100 % ) of the outstanding stock of ezi holdings pty ltd ( 201cezidebit 201d ) for aud302.6 million in cash ( $ 266.0 million equivalent as of the acquisition date ) . this acquisition was funded by a combination of cash on hand and borrowings on our revolving credit facility . ezidebit is a leading integrated payments company focused on recurring payments verticals in australia and new zealand . the acquisition of ezidebit further enhanced our existing integrated solutions offerings . this transaction was accounted for as a business combination . we recorded the assets acquired and liabilities assumed at their estimated fair values as of the acquisition date . 76 2013 global payments inc . | 2017 form 10-k annual report .
Question: what percentage of the total purchase consideration did goodwill represent? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
89.19 | Context:performance graph the annual changes for the period shown december 1 , 2013 ( when our ordinary shares began trading ) to december 31 , 2017 in the graph on this page are based on the assumption that $ 100 had been invested in allegion plc ordinary shares , the standard & poor 2019s 500 stock index ( "s&p 500" ) and the standard & poor's 400 capital goods index ( "s&p 400 capital goods" ) on december 1 , 2013 , and that all quarterly dividends were reinvested . the total cumulative dollar returns shown on the graph represent the value that such investments would have had on december 31 , 2017 . december 1 , december 31 , december 31 , december 31 , december 31 , december 31 .
||december 1 2013|december 31 2013|december 31 2014|december 31 2015|december 31 2016|december 31 2017|
|allegion plc|100.00|102.20|129.03|154.37|150.97|189.19|
|s&p 500|100.00|102.53|116.57|118.18|132.31|161.20|
|s&p 400 capital goods|100.00|104.58|104.84|99.07|130.70|162.97|
.
Question: considering the final year of the investment , what was the highest return for the initial 100$ ? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.0927 | Context:our existing cash flow hedges are highly effective and there is no current impact on earnings due to hedge ineffectiveness . it is our policy to execute such instruments with credit-worthy banks and not to enter into derivative financial instruments for speculative purposes . contractual obligations fis 2019s long-term contractual obligations generally include its long-term debt and operating lease payments on certain of its property and equipment . the following table summarizes fis 2019s significant contractual obligations and commitments as of december 31 , 2007 ( in thousands ) : .
||2008|2009|2010|2011|2012|thereafter|total|
|long-term debt|$ 272014|$ 142850|$ 226000|$ 173500|$ 1945033|$ 1516000|$ 4275397|
|interest|254716|238554|227320|218416|109226|101987|1150219|
|operating leases|83382|63060|35269|21598|14860|30869|249038|
|investment commitments|47514|2014|2014|2014|2014|2014|47514|
|purchase commitments|33264|2014|2014|2014|2014|2014|33264|
|data processing and maintenance commitments|198290|171411|107105|63010|61035|287479|888330|
|total|$ 889180|$ 615875|$ 595694|$ 476524|$ 2130154|$ 1936335|$ 6643762|
off-balance sheet arrangements fis does not have any material off-balance sheet arrangements other than operating leases . escrow arrangements in conducting our title agency , closing and 1031 exchange services operations , we routinely hold customers 2019 assets in escrow , pending completion of real estate transactions . certain of these amounts are maintained in segregated bank accounts and have not been included in the accompanying consolidated balance sheets . we have a contingent liability relating to proper disposition of these balances , which amounted to $ 1926.8 million at december 31 , 2007 . as a result of holding these customers 2019 assets in escrow , we have ongoing programs for realizing economic benefits during the year through favorable borrowing and vendor arrangements with various banks . there were no loans outstanding as of december 31 , 2007 and these balances were invested in short term , high grade investments that minimize the risk to principal . recent accounting pronouncements in december 2007 , the fasb issued sfas no . 141 ( revised 2007 ) , business combinations ( 201csfas 141 ( r ) 201d ) , requiring an acquirer in a business combination to recognize the assets acquired , the liabilities assumed , and any noncontrolling interest in the acquiree at their fair values at the acquisition date , with limited exceptions . the costs of the acquisition and any related restructuring costs will be recognized separately . assets and liabilities arising from contingencies in a business combination are to be recognized at their fair value at the acquisition date and adjusted prospectively as new information becomes available . when the fair value of assets acquired exceeds the fair value of consideration transferred plus any noncontrolling interest in the acquiree , the excess will be recognized as a gain . under sfas 141 ( r ) , all business combinations will be accounted for by applying the acquisition method , including combinations among mutual entities and combinations by contract alone . sfas 141 ( r ) applies prospectively to business combinations for which the acquisition date is on or after the first annual reporting period beginning on or after december 15 , 2008 , is effective for periods beginning on or after december 15 , 2008 , and will apply to business combinations occurring after the effective date . management is currently evaluating the impact of this statement on our statements of financial position and operations . in december 2007 , the fasb issued sfas no . 160 , noncontrolling interests in consolidated financial statements 2014 an amendment of arb no . 51 ( 201csfas 160 201d ) , requiring noncontrolling interests ( sometimes called minority interests ) to be presented as a component of equity on the balance sheet . sfas 160 also requires that the amount of net income attributable to the parent and to the noncontrolling interests be clearly identified and presented on the face of the consolidated statement of income . this statement eliminates the need to apply purchase .
Question: what percentage of total significant contractual obligations and commitments as of december 31 , 2007 are 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: |
0.09807 | Context:changes in proved undeveloped reserves as of december 31 , 2013 , 627 mmboe of proved undeveloped reserves were reported , an increase of 56 mmboe from december 31 , 2012 . the following table shows changes in total proved undeveloped reserves for 2013 : ( mmboe ) .
|beginning of year|571|
|revisions of previous estimates|4|
|improved recovery|7|
|purchases of reserves in place|16|
|extensions discoveries and other additions|142|
|dispositions|-4 ( 4 )|
|transfer to proved developed|-109 ( 109 )|
|end of year|627|
significant additions to proved undeveloped reserves during 2013 included 72 mmboe in the eagle ford and 49 mmboe in the bakken shale plays due to development drilling . transfers from proved undeveloped to proved developed reserves included 57 mmboe in the eagle ford , 18 mmboe in the bakken and 7 mmboe in the oklahoma resource basins due to producing wells . costs incurred in 2013 , 2012 and 2011 relating to the development of proved undeveloped reserves , were $ 2536 million , $ 1995 million and $ 1107 million . a total of 59 mmboe was booked as a result of reliable technology . technologies included statistical analysis of production performance , decline curve analysis , rate transient analysis , reservoir simulation and volumetric analysis . the statistical nature of production performance coupled with highly certain reservoir continuity or quality within the reliable technology areas and sufficient proved undeveloped locations establish the reasonable certainty criteria required for booking reserves . projects can remain in proved undeveloped reserves for extended periods in certain situations such as large development projects which take more than five years to complete , or the timing of when additional gas compression is needed . of the 627 mmboe of proved undeveloped reserves at december 31 , 2013 , 24 percent of the volume is associated with projects that have been included in proved reserves for more than five years . the majority of this volume is related to a compression project in e.g . that was sanctioned by our board of directors in 2004 . the timing of the installation of compression is being driven by the reservoir performance with this project intended to maintain maximum production levels . performance of this field since the board sanctioned the project has far exceeded expectations . estimates of initial dry gas in place increased by roughly 10 percent between 2004 and 2010 . during 2012 , the compression project received the approval of the e.g . government , allowing design and planning work to progress towards implementation , with completion expected by mid-2016 . the other component of alba proved undeveloped reserves is an infill well approved in 2013 and to be drilled late 2014 . proved undeveloped reserves for the north gialo development , located in the libyan sahara desert , were booked for the first time as proved undeveloped reserves in 2010 . this development , which is anticipated to take more than five years to be developed , is being executed by the operator and encompasses a continuous drilling program including the design , fabrication and installation of extensive liquid handling and gas recycling facilities . anecdotal evidence from similar development projects in the region led to an expected project execution of more than five years from the time the reserves were initially booked . interruptions associated with the civil unrest in 2011 and third-party labor strikes in 2013 have extended the project duration . there are no other significant undeveloped reserves expected to be developed more than five years after their original booking . as of december 31 , 2013 , future development costs estimated to be required for the development of proved undeveloped liquid hydrocarbon , natural gas and synthetic crude oil reserves related to continuing operations for the years 2014 through 2018 are projected to be $ 2894 million , $ 2567 million , $ 2020 million , $ 1452 million and $ 575 million . the timing of future projects and estimated future development costs relating to the development of proved undeveloped liquid hydrocarbon , natural gas and synthetic crude oil reserves are forward-looking statements and are based on a number of assumptions , including ( among others ) commodity prices , presently known physical data concerning size and character of the reservoirs , economic recoverability , technology developments , future drilling success , industry economic conditions , levels of cash flow from operations , production experience and other operating considerations . to the extent these assumptions prove inaccurate , actual recoveries , timing and development costs could be different than current estimates. .
Question: by how much did total proved undeveloped reserves increase during 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: |
0.367 | Context:technical and research personnel and lab facilities , and significantly expanded the portfolio of patents available to us via license and through a cooperative development program . in addition , we have acquired a 20 percent interest in grt , inc . the gtftm technology is protected by an intellectual property protection program . the u.s . has granted 17 patents for the technology , with another 22 pending . worldwide , there are over 300 patents issued or pending , covering over 100 countries including regional and direct foreign filings . another innovative technology that we are developing focuses on reducing the processing and transportation costs of natural gas by artificially creating natural gas hydrates , which are more easily transportable than natural gas in its gaseous form . much like lng , gas hydrates would then be regasified upon delivery to the receiving market . we have an active pilot program in place to test and further develop a proprietary natural gas hydrates manufacturing system . the above discussion of the integrated gas segment contains forward-looking statements with respect to the possible expansion of the lng production facility . factors that could potentially affect the possible expansion of the lng production facility include partner and government approvals , access to sufficient natural gas volumes through exploration or commercial negotiations with other resource owners and access to sufficient regasification capacity . the foregoing factors ( among others ) could cause actual results to differ materially from those set forth in the forward-looking statements . refining , marketing and transportation we have refining , marketing and transportation operations concentrated primarily in the midwest , upper great plains , gulf coast and southeast regions of the u.s . we rank as the fifth largest crude oil refiner in the u.s . and the largest in the midwest . our operations include a seven-plant refining network and an integrated terminal and transportation system which supplies wholesale and marathon-brand customers as well as our own retail operations . our wholly-owned retail marketing subsidiary speedway superamerica llc ( 201cssa 201d ) is the third largest chain of company-owned and -operated retail gasoline and convenience stores in the u.s . and the largest in the midwest . refining we own and operate seven refineries with an aggregate refining capacity of 1.188 million barrels per day ( 201cmmbpd 201d ) of crude oil as of december 31 , 2009 . during 2009 , our refineries processed 957 mbpd of crude oil and 196 mbpd of other charge and blend stocks . the table below sets forth the location and daily crude oil refining capacity of each of our refineries as of december 31 , 2009 . crude oil refining capacity ( thousands of barrels per day ) 2009 .
|( thousands of barrels per day )|2009|
|garyville louisiana|436|
|catlettsburg kentucky|212|
|robinson illinois|206|
|detroit michigan|106|
|canton ohio|78|
|texas city texas|76|
|st . paul park minnesota|74|
|total|1188|
our refineries include crude oil atmospheric and vacuum distillation , fluid catalytic cracking , catalytic reforming , desulfurization and sulfur recovery units . the refineries process a wide variety of crude oils and produce numerous refined products , ranging from transportation fuels , such as reformulated gasolines , blend- grade gasolines intended for blending with fuel ethanol and ultra-low sulfur diesel fuel , to heavy fuel oil and asphalt . additionally , we manufacture aromatics , cumene , propane , propylene , sulfur and maleic anhydride . our garyville , louisiana , refinery is located along the mississippi river in southeastern louisiana between new orleans and baton rouge . the garyville refinery predominantly processes heavy sour crude oil into products .
Question: what percentage of crude oil refining capacity is located in garyville louisiana? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
117.1764 | Context:item 2 : properties information concerning applied 2019s properties is set forth below: .
|( square feet in thousands )|united states|other countries|total|
|owned|3964|1652|5616|
|leased|845|1153|1998|
|total|4809|2805|7614|
because of the interrelation of applied 2019s operations , properties within a country may be shared by the segments operating within that country . the company 2019s headquarters offices are in santa clara , california . products in semiconductor systems are manufactured in santa clara , california ; austin , texas ; gloucester , massachusetts ; kalispell , montana ; rehovot , israel ; and singapore . remanufactured equipment products in the applied global services segment are produced primarily in austin , texas . products in the display and adjacent markets segment are manufactured in alzenau , germany ; and tainan , taiwan . other products are manufactured in treviso , italy . applied also owns and leases offices , plants and warehouse locations in many locations throughout the world , including in europe , japan , north america ( principally the united states ) , israel , china , india , korea , southeast asia and taiwan . these facilities are principally used for manufacturing ; research , development and engineering ; and marketing , sales and customer support . applied also owns a total of approximately 269 acres of buildable land in montana , texas , california , israel and italy that could accommodate additional building space . applied considers the properties that it owns or leases as adequate to meet its current and future requirements . applied regularly assesses the size , capability and location of its global infrastructure and periodically makes adjustments based on these assessments. .
Question: how much square feet could the company use to build properies ? ( 1 acre = 43560 square feet ) | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
44.2 | Context:amounts due from related parties at december a031 , 2010 and 2009 con- sisted of the following ( in thousands ) : .
||2010|2009|
|due from joint ventures|$ 1062|$ 228|
|officers and employees|2014|153|
|other|5233|8189|
|related party receivables|$ 6295|$ 8570|
gramercy capital corp . see note a0 6 , 201cinvestment in unconsolidated joint ventures 2014gramercy capital corp. , 201d for disclosure on related party transactions between gramercy and the company . 13 2002equit y common stock our authorized capital stock consists of 260000000 shares , $ .01 par value , of which we have authorized the issuance of up to 160000000 shares of common stock , $ .01 par value per share , 75000000 shares of excess stock , $ .01 par value per share , and 25000000 shares of preferred stock , $ .01 par value per share . as of december a031 , 2010 , 78306702 shares of common stock and no shares of excess stock were issued and outstanding . in may 2009 , we sold 19550000 shares of our common stock at a gross price of $ 20.75 per share . the net proceeds from this offer- ing ( approximately $ 387.1 a0 million ) were primarily used to repurchase unsecured debt . perpetual preferred stock in january 2010 , we sold 5400000 shares of our series a0c preferred stock in an underwritten public offering . as a result of this offering , we have 11700000 shares of the series a0 c preferred stock outstanding . the shares of series a0c preferred stock have a liquidation preference of $ 25.00 per share and are redeemable at par , plus accrued and unpaid dividends , at any time at our option . the shares were priced at $ 23.53 per share including accrued dividends equating to a yield of 8.101% ( 8.101 % ) . we used the net offering proceeds of approximately $ 122.0 a0million for gen- eral corporate and/or working capital purposes , including purchases of the indebtedness of our subsidiaries and investment opportunities . in december 2003 , we sold 6300000 shares of our 7.625% ( 7.625 % ) series a0 c preferred stock , ( including the underwriters 2019 over-allotment option of 700000 shares ) with a mandatory liquidation preference of $ 25.00 per share . net proceeds from this offering ( approximately $ 152.0 a0 million ) were used principally to repay amounts outstanding under our secured and unsecured revolving credit facilities . the series a0c preferred stockholders receive annual dividends of $ 1.90625 per share paid on a quarterly basis and dividends are cumulative , subject to cer- tain provisions . since december a0 12 , 2008 , we have been entitled to redeem the series a0c preferred stock at par for cash at our option . the series a0c preferred stock was recorded net of underwriters discount and issuance costs . 12 2002related part y transactions cleaning/securit y/messenger and restoration services through al l iance bui lding services , or al l iance , first qual i t y maintenance , a0l.p. , or first quality , provides cleaning , extermination and related services , classic security a0llc provides security services , bright star couriers a0llc provides messenger services , and onyx restoration works provides restoration services with respect to certain proper- ties owned by us . alliance is partially owned by gary green , a son of stephen a0l . green , the chairman of our board of directors . in addition , first quality has the non-exclusive opportunity to provide cleaning and related services to individual tenants at our properties on a basis sepa- rately negotiated with any tenant seeking such additional services . the service corp . has entered into an arrangement with alliance whereby it will receive a profit participation above a certain threshold for services provided by alliance to certain tenants at certain buildings above the base services specified in their lease agreements . alliance paid the service corporation approximately $ 2.2 a0million , $ 1.8 a0million and $ 1.4 a0million for the years ended december a031 , 2010 , 2009 and 2008 , respectively . we paid alliance approximately $ 14.2 a0million , $ 14.9 a0million and $ 15.1 a0million for three years ended december a031 , 2010 , respectively , for these ser- vices ( excluding services provided directly to tenants ) . leases nancy peck and company leases 1003 square feet of space at 420 lexington avenue under a lease that ends in august 2015 . nancy peck and company is owned by nancy peck , the wife of stephen a0l . green . the rent due pursuant to the lease is $ 35516 per annum for year one increas- ing to $ 40000 in year seven . from february 2007 through december 2008 , nancy peck and company leased 507 square feet of space at 420 a0 lexington avenue pursuant to a lease which provided for annual rental payments of approximately $ 15210 . brokerage services cushman a0 & wakefield sonnenblick-goldman , a0 llc , or sonnenblick , a nationally recognized real estate investment banking firm , provided mortgage brokerage services to us . mr . a0 morton holliday , the father of mr . a0 marc holliday , was a managing director of sonnenblick at the time of the financings . in 2009 , we paid approximately $ 428000 to sonnenblick in connection with the purchase of a sub-leasehold interest and the refinancing of 420 lexington avenue . management fees s.l . green management corp. , a consolidated entity , receives property management fees from an entity in which stephen a0l . green owns an inter- est . the aggregate amount of fees paid to s.l . green management corp . from such entity was approximately $ 390700 in 2010 , $ 351700 in 2009 and $ 353500 in 2008 . notes to consolidated financial statements .
Question: what was the total paid to alliance from 2008-2010 , 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: |
0.11551 | Context:american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) pro forma disclosure 2014the company has adopted the disclosure-only provisions of sfas no . 123 , as amended by sfas no . 148 , and has presented such disclosure in note 1 . the 201cfair value 201d of each option grant is estimated on the date of grant using the black-scholes option pricing model . the weighted average fair values of the company 2019s options granted during 2004 , 2003 and 2002 were $ 7.05 , $ 6.32 , and $ 2.23 per share , respectively . key assumptions used to apply this pricing model are as follows: .
||2004|2003|2002|
|approximate risk-free interest rate|4.23% ( 4.23 % )|4.00% ( 4.00 % )|4.53% ( 4.53 % )|
|expected life of option grants|4 years|4 years|5 years|
|expected volatility of underlying stock ( the company plan )|80.6% ( 80.6 % )|86.6% ( 86.6 % )|92.3% ( 92.3 % )|
|expected volatility of underlying stock ( atc mexico and atc south america plans )|n/a|n/a|n/a|
|expected dividends|n/a|n/a|n/a|
voluntary option exchanges 2014in february 2004 , the company issued to eligible employees 1032717 options with an exercise price of $ 11.19 per share , the fair market value of the class a common stock on the date of grant . these options were issued in connection with a voluntary option exchange program entered into by the company in august 2003 , where the company accepted for surrender and cancelled options ( having an exercise price of $ 10.25 or greater ) to purchase 1831981 shares of its class a common stock . the program , which was offered to both full and part-time employees , excluding the company 2019s executive officers and its directors , called for the grant ( at least six months and one day from the surrender date to employees still employed on that date ) of new options exercisable for two shares of class a common stock for every three shares of class a common stock issuable upon exercise of a surrendered option . no options were granted to any employees who participated in the exchange offer between the cancellation date and the new grant date . in may 2002 , the company issued to eligible employees 2027612 options with an exercise price of $ 3.84 per share , the fair market value of the class a common stock on the date of grant . these options were issued in connection with a voluntary option exchange program entered into by the company in october 2001 , where the company accepted for surrender and cancelled options to purchase 3471211 shares of its class a common stock . the program , which was offered to both full and part-time employees , excluding most of the company 2019s executive officers , called for the grant ( at least six months and one day from the surrender date to employees still employed on that date ) of new options exercisable for two shares of class a common stock for every three shares of class a common stock issuable upon exercise of a surrendered option . no options were granted to any employees who participated in the exchange offer between the cancellation date and the new grant date . atc mexico holding stock option plan 2014the company maintains a stock option plan in its atc mexico subsidiary ( atc mexico plan ) . the atc mexico plan provides for the issuance of options to officers , employees , directors and consultants of atc mexico . the atc mexico plan limits the number of shares of common stock which may be granted to an aggregate of 360 shares , subject to adjustment based on changes in atc mexico 2019s capital structure . during 2002 , atc mexico granted options to purchase 318 shares of atc mexico common stock to officers and employees . such options were issued at one time with an exercise price of $ 10000 per share . the exercise price per share was at fair market value as determined by the board of directors with the assistance of an independent appraisal performed at the company 2019s request . the fair value of atc mexico plan options granted during 2002 were $ 3611 per share as determined by using the black-scholes option pricing model . as described in note 10 , all outstanding options were exercised in march 2004 . no options under the atc mexico plan were granted in 2004 or 2003 , or exercised or cancelled in 2003 or 2002 , and no options were exercisable as of december 31 , 2003 or 2002 . ( see note 10. ) .
Question: what is the growth rate in weighted average fair values of the company 2019s options granted from 2003 to 2004? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.33482 | Context:our existing cash flow hedges are highly effective and there is no current impact on earnings due to hedge ineffectiveness . it is our policy to execute such instruments with credit-worthy banks and not to enter into derivative financial instruments for speculative purposes . contractual obligations fis 2019s long-term contractual obligations generally include its long-term debt and operating lease payments on certain of its property and equipment . the following table summarizes fis 2019s significant contractual obligations and commitments as of december 31 , 2007 ( in thousands ) : .
||2008|2009|2010|2011|2012|thereafter|total|
|long-term debt|$ 272014|$ 142850|$ 226000|$ 173500|$ 1945033|$ 1516000|$ 4275397|
|interest|254716|238554|227320|218416|109226|101987|1150219|
|operating leases|83382|63060|35269|21598|14860|30869|249038|
|investment commitments|47514|2014|2014|2014|2014|2014|47514|
|purchase commitments|33264|2014|2014|2014|2014|2014|33264|
|data processing and maintenance commitments|198290|171411|107105|63010|61035|287479|888330|
|total|$ 889180|$ 615875|$ 595694|$ 476524|$ 2130154|$ 1936335|$ 6643762|
off-balance sheet arrangements fis does not have any material off-balance sheet arrangements other than operating leases . escrow arrangements in conducting our title agency , closing and 1031 exchange services operations , we routinely hold customers 2019 assets in escrow , pending completion of real estate transactions . certain of these amounts are maintained in segregated bank accounts and have not been included in the accompanying consolidated balance sheets . we have a contingent liability relating to proper disposition of these balances , which amounted to $ 1926.8 million at december 31 , 2007 . as a result of holding these customers 2019 assets in escrow , we have ongoing programs for realizing economic benefits during the year through favorable borrowing and vendor arrangements with various banks . there were no loans outstanding as of december 31 , 2007 and these balances were invested in short term , high grade investments that minimize the risk to principal . recent accounting pronouncements in december 2007 , the fasb issued sfas no . 141 ( revised 2007 ) , business combinations ( 201csfas 141 ( r ) 201d ) , requiring an acquirer in a business combination to recognize the assets acquired , the liabilities assumed , and any noncontrolling interest in the acquiree at their fair values at the acquisition date , with limited exceptions . the costs of the acquisition and any related restructuring costs will be recognized separately . assets and liabilities arising from contingencies in a business combination are to be recognized at their fair value at the acquisition date and adjusted prospectively as new information becomes available . when the fair value of assets acquired exceeds the fair value of consideration transferred plus any noncontrolling interest in the acquiree , the excess will be recognized as a gain . under sfas 141 ( r ) , all business combinations will be accounted for by applying the acquisition method , including combinations among mutual entities and combinations by contract alone . sfas 141 ( r ) applies prospectively to business combinations for which the acquisition date is on or after the first annual reporting period beginning on or after december 15 , 2008 , is effective for periods beginning on or after december 15 , 2008 , and will apply to business combinations occurring after the effective date . management is currently evaluating the impact of this statement on our statements of financial position and operations . in december 2007 , the fasb issued sfas no . 160 , noncontrolling interests in consolidated financial statements 2014 an amendment of arb no . 51 ( 201csfas 160 201d ) , requiring noncontrolling interests ( sometimes called minority interests ) to be presented as a component of equity on the balance sheet . sfas 160 also requires that the amount of net income attributable to the parent and to the noncontrolling interests be clearly identified and presented on the face of the consolidated statement of income . this statement eliminates the need to apply purchase .
Question: what portion of the operating leases are due in the next 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: |
10.35 | Context:proceeds from the sale of equity securities . from time to time , we raise funds through public offerings of our equity securities . in addition , we receive proceeds from sales of our equity securities pursuant to our stock option and stock purchase plans . for the year ended december 31 , 2004 , we received approximately $ 40.6 million in proceeds from sales of shares of our class a common stock and the common stock of atc mexico pursuant to our stock option and stock purchase plans . financing activities during the year ended december 31 , 2004 , we took several actions to increase our financial flexibility and reduce our interest costs . new credit facility . in may 2004 , we refinanced our previous credit facility with a new $ 1.1 billion senior secured credit facility . at closing , we received $ 685.5 million of net proceeds from the borrowings under the new facility , after deducting related expenses and fees , approximately $ 670.0 million of which we used to repay principal and interest under the previous credit facility . we used the remaining net proceeds of $ 15.5 million for general corporate purposes , including the repurchase of other outstanding debt securities . the new credit facility consists of the following : 2022 $ 400.0 million in undrawn revolving loan commitments , against which approximately $ 19.3 million of undrawn letters of credit were outstanding at december 31 , 2004 , maturing on february 28 , 2011 ; 2022 a $ 300.0 million term loan a , which is fully drawn , maturing on february 28 , 2011 ; and 2022 a $ 398.0 million term loan b , which is fully drawn , maturing on august 31 , 2011 . the new credit facility extends the previous credit facility maturity dates from 2007 to 2011 for a majority of the borrowings outstanding , subject to earlier maturity upon the occurrence of certain events described below , and allows us to use credit facility borrowings and internally generated funds to repurchase other indebtedness without additional lender approval . the new credit facility is guaranteed by us and is secured by a pledge of substantially all of our assets . the maturity date for term loan a and any outstanding revolving loans will be accelerated to august 15 , 2008 , and the maturity date for term loan b will be accelerated to october 31 , 2008 , if ( 1 ) on or prior to august 1 , 2008 , our 93 20448% ( 20448 % ) senior notes have not been ( a ) refinanced with parent company indebtedness having a maturity date of february 28 , 2012 or later or with loans under the new credit facility , or ( b ) repaid , prepaid , redeemed , repurchased or otherwise retired , and ( 2 ) our consolidated leverage ratio ( total parent company debt to annualized operating cash flow ) at june 30 , 2008 is greater than 4.50 to 1.00 . if this were to occur , the payments due in 2008 for term loan a and term loan b would be $ 225.0 million and $ 386.0 million , respectively . note offerings . during 2004 , we raised approximately $ 1.1 billion in net proceeds from the sale of debt securities through institutional private placements as follows ( in millions ) : debt security date of offering principal amount approximate net proceeds .
|debt security|date of offering|principal amount|approximate net proceeds|
|7.50% ( 7.50 % ) senior notes due 2012|february 2004|$ 225.0|$ 221.7|
|3.00% ( 3.00 % ) convertible notes due august 15 2012|august 2004|345.0|335.9|
|7.125% ( 7.125 % ) senior notes due 2012|october 2004|300.0|292.8|
|7.125% ( 7.125 % ) senior notes due 2012|december 2004|200.0|199.8|
|total||$ 1070.0|$ 1050.2|
2022 7.50% ( 7.50 % ) senior notes offering . in february 2004 , we sold $ 225.0 million principal amount of our 7.50% ( 7.50 % ) senior notes due 2012 through an institutional private placement . the 7.50% ( 7.50 % ) senior notes mature on may 1 , 2012 , and interest is payable semiannually in arrears on may 1 and november 1 of each year. .
Question: what is the annual interest expense related to the 3.00% ( 3.00 % ) convertible notes , in millions? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
no | Context:table of contents ( 2 ) includes capitalized lease obligations of $ 3.2 million and $ 0.1 million as of december 31 , 2015 and 2014 , respectively , which are included in other liabilities on the consolidated balance sheet . ( 3 ) ebitda is defined as consolidated net income before interest expense , income tax expense , depreciation and amortization . adjusted ebitda , which is a measure defined in our credit agreements , means ebitda adjusted for certain items which are described in the table below . we have included a reconciliation of ebitda and adjusted ebitda in the table below . both ebitda and adjusted ebitda are considered non-gaap financial measures . generally , a non-gaap financial measure is a numerical measure of a company 2019s performance , financial position or cash flows that either excludes or includes amounts that are not normally included or excluded in the most directly comparable measure calculated and presented in accordance with gaap . non-gaap measures used by us may differ from similar measures used by other companies , even when similar terms are used to identify such measures . we believe that ebitda and adjusted ebitda provide helpful information with respect to our operating performance and cash flows including our ability to meet our future debt service , capital expenditures and working capital requirements . adjusted ebitda is also the primary measure used in certain key covenants and definitions contained in the credit agreement governing our senior secured term loan facility ( 201cterm loan 201d ) , including the excess cash flow payment provision , the restricted payment covenant and the net leverage ratio . these covenants and definitions are material components of the term loan as they are used in determining the interest rate applicable to the term loan , our ability to make certain investments , incur additional debt , and make restricted payments , such as dividends and share repurchases , as well as whether we are required to make additional principal prepayments on the term loan beyond the quarterly amortization payments . for further details regarding the term loan , see note 8 ( long-term debt ) to the accompanying consolidated financial statements . the following unaudited table sets forth reconciliations of net income to ebitda and ebitda to adjusted ebitda for the periods presented: .
|( in millions )|years ended december 31 , 2015|years ended december 31 , 2014|years ended december 31 , 2013|years ended december 31 , 2012|years ended december 31 , 2011|
|net income|$ 403.1|$ 244.9|$ 132.8|$ 119.0|$ 17.1|
|depreciation and amortization|227.4|207.9|208.2|210.2|204.9|
|income tax expense|243.9|142.8|62.7|67.1|11.2|
|interest expense net|159.5|197.3|250.1|307.4|324.2|
|ebitda|1033.9|792.9|653.8|703.7|557.4|
|non-cash equity-based compensation|31.2|16.4|8.6|22.1|19.5|
|net loss on extinguishment of long-term debt ( a )|24.3|90.7|64.0|17.2|118.9|
|loss ( income ) from equity investments ( b )|10.1|-2.2 ( 2.2 )|-0.6 ( 0.6 )|-0.3 ( 0.3 )|-0.1 ( 0.1 )|
|acquisition and integration expenses ( c )|10.2|2014|2014|2014|2014|
|gain on remeasurement of equity investment ( d )|-98.1 ( 98.1 )|2014|2014|2014|2014|
|other adjustments ( e )|6.9|9.2|82.7|23.9|21.6|
|adjusted ebitda ( f )|$ 1018.5|$ 907.0|$ 808.5|$ 766.6|$ 717.3|
net loss on extinguishment of long-term debt ( a ) 24.3 90.7 64.0 17.2 118.9 loss ( income ) from equity investments ( b ) 10.1 ( 2.2 ) ( 0.6 ) ( 0.3 ) ( 0.1 ) acquisition and integration expenses ( c ) 10.2 2014 2014 2014 2014 gain on remeasurement of equity investment ( d ) ( 98.1 ) 2014 2014 2014 2014 other adjustments ( e ) 6.9 9.2 82.7 23.9 21.6 adjusted ebitda ( f ) $ 1018.5 $ 907.0 $ 808.5 $ 766.6 $ 717.3 ( a ) during the years ended december 31 , 2015 , 2014 , 2013 , 2012 , and 2011 , we recorded net losses on extinguishments of long-term debt . the losses represented the difference between the amount paid upon extinguishment , including call premiums and expenses paid to the debt holders and agents , and the net carrying amount of the extinguished debt , adjusted for a portion of the unamortized deferred financing costs . ( b ) represents our share of net income/loss from our equity investments . our 35% ( 35 % ) share of kelway 2019s net loss includes our 35% ( 35 % ) share of an expense related to certain equity awards granted by one of the sellers to kelway coworkers in july 2015 prior to the acquisition . ( c ) primarily includes expenses related to the acquisition of kelway . ( d ) represents the gain resulting from the remeasurement of our previously held 35% ( 35 % ) equity investment to fair value upon the completion of the acquisition of kelway. .
Question: did 2015 adjusted ebitda increase more than 2015 actual ebitda? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
312000000.0 | Context:in the fourth quarter of 2002 , aes lost voting control of one of the holding companies in the cemig ownership structure . this holding company indirectly owns the shares related to the cemig investment and indirectly holds the project financing debt related to cemig . as a result of the loss of voting control , aes stopped consolidating this holding company at december 31 , 2002 . other . during the fourth quarter of 2003 , the company sold its 25% ( 25 % ) ownership interest in medway power limited ( 2018 2018mpl 2019 2019 ) , a 688 mw natural gas-fired combined cycle facility located in the united kingdom , and aes medway operations limited ( 2018 2018aesmo 2019 2019 ) , the operating company for the facility , in an aggregate transaction valued at approximately a347 million ( $ 78 million ) . the sale resulted in a gain of $ 23 million which was recorded in continuing operations . mpl and aesmo were previously reported in the contract generation segment . in the second quarter of 2002 , the company sold its investment in empresa de infovias s.a . ( 2018 2018infovias 2019 2019 ) , a telecommunications company in brazil , for proceeds of $ 31 million to cemig , an affiliated company . the loss recorded on the sale was approximately $ 14 million and is recorded as a loss on sale of assets and asset impairment expenses in the accompanying consolidated statements of operations . in the second quarter of 2002 , the company recorded an impairment charge of approximately $ 40 million , after income taxes , on an equity method investment in a telecommunications company in latin america held by edc . the impairment charge resulted from sustained poor operating performance coupled with recent funding problems at the invested company . during 2001 , the company lost operational control of central electricity supply corporation ( 2018 2018cesco 2019 2019 ) , a distribution company located in the state of orissa , india . the state of orissa appointed an administrator to take operational control of cesco . cesco is accounted for as a cost method investment . aes 2019s investment in cesco is negative . in august 2000 , a subsidiary of the company acquired a 49% ( 49 % ) interest in songas for approximately $ 40 million . the company acquired an additional 16.79% ( 16.79 % ) of songas for approximately $ 12.5 million , and the company began consolidating this entity in 2002 . songas owns the songo songo gas-to-electricity project in tanzania . in december 2002 , the company signed a sales purchase agreement to sell 100% ( 100 % ) of our ownership interest in songas . the sale of songas closed in april 2003 ( see note 4 for further discussion of the transaction ) . the following tables present summarized comparative financial information ( in millions ) of the entities in which the company has the ability to exercise significant influence but does not control and that are accounted for using the equity method. .
|as of and for the years ended december 31,|2003|2002 ( 1 )|2001 ( 1 )|
|revenues|$ 2758|$ 2832|$ 6147|
|operating income|1039|695|1717|
|net income|407|229|650|
|current assets|1347|1097|3700|
|noncurrent assets|7479|6751|14942|
|current liabilities|1434|1418|3510|
|noncurrent liabilities|3795|3349|8297|
|stockholder's equity|3597|3081|6835|
( 1 ) includes information pertaining to eletropaulo and light prior to february 2002 . in 2002 and 2001 , the results of operations and the financial position of cemig were negatively impacted by the devaluation of the brazilian real and the impairment charge recorded in 2002 . the brazilian real devalued 32% ( 32 % ) and 19% ( 19 % ) for the years ended december 31 , 2002 and 2001 , respectively. .
Question: what is the implied total value of medway power limited , in us$ ? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.67494 | Context:the company recorded equity earnings , net of taxes , related to ilim of $ 290 million in 2018 , compared with earnings of $ 183 million in 2017 , and $ 199 million in 2016 . operating results recorded in 2018 included an after-tax non-cash foreign exchange loss of $ 82 million , compared with an after-tax foreign exchange gain of $ 15 million in 2017 and an after-tax foreign exchange gain of $ 25 million in 2016 , primarily on the remeasurement of ilim's u.s . dollar denominated net debt . ilim delivered outstanding performance in 2018 , driven largely by higher price realization and strong demand . sales volumes for the joint venture increased year over year for shipments to china of softwood pulp and linerboard , but were offset by decreased sales of hardwood pulp to china . sales volumes in the russian market increased for softwood pulp and hardwood pulp , but decreased for linerboard . average sales price realizations were significantly higher in 2018 for sales of softwood pulp , hardwood pulp and linerboard to china and other export markets . average sales price realizations in russian markets increased year over year for all products . input costs were higher in 2018 , primarily for wood , fuel and chemicals . distribution costs were negatively impacted by tariffs and inflation . the company received cash dividends from the joint venture of $ 128 million in 2018 , $ 133 million in 2017 and $ 58 million in entering the first quarter of 2019 , sales volumes are expected to be lower than in the fourth quarter of 2018 , due to the seasonal slowdown in china and fewer trading days . based on pricing to date in the current quarter , average sales prices are expected to decrease for hardwood pulp , softwood pulp and linerboard to china . input costs are projected to be relatively flat , while distribution costs are expected to increase . equity earnings - gpip international paper recorded equity earnings of $ 46 million on its 20.5% ( 20.5 % ) ownership position in gpip in 2018 . the company received cash dividends from the investment of $ 25 million in 2018 . liquidity and capital resources overview a major factor in international paper 2019s liquidity and capital resource planning is its generation of operating cash flow , which is highly sensitive to changes in the pricing and demand for our major products . while changes in key cash operating costs , such as energy , raw material , mill outage and transportation costs , do have an effect on operating cash generation , we believe that our focus on pricing and cost controls has improved our cash flow generation over an operating cycle . cash uses during 2018 were primarily focused on working capital requirements , capital spending , debt reductions and returning cash to shareholders through dividends and share repurchases under the company's share repurchase program . cash provided by operating activities cash provided by operations , including discontinued operations , totaled $ 3.2 billion in 2018 , compared with $ 1.8 billion for 2017 , and $ 2.5 billion for 2016 . cash used by working capital components ( accounts receivable , contract assets and inventory less accounts payable and accrued liabilities , interest payable and other ) totaled $ 439 million in 2018 , compared with cash used by working capital components of $ 402 million in 2017 , and cash provided by working capital components of $ 71 million in 2016 . investment activities including discontinued operations , investment activities in 2018 increased from 2017 , as 2018 included higher capital spending . in 2016 , investment activity included the purchase of weyerhaeuser's pulp business for $ 2.2 billion in cash , the purchase of the holmen business for $ 57 million in cash , net of cash acquired , and proceeds from the sale of the asia packaging business of $ 108 million , net of cash divested . the company maintains an average capital spending target around depreciation and amortization levels , or modestly above , due to strategic plans over the course of an economic cycle . capital spending was $ 1.6 billion in 2018 , or 118% ( 118 % ) of depreciation and amortization , compared with $ 1.4 billion in 2017 , or 98% ( 98 % ) of depreciation and amortization , and $ 1.3 billion , or 110% ( 110 % ) of depreciation and amortization in 2016 . across our segments , capital spending as a percentage of depreciation and amortization ranged from 69.8% ( 69.8 % ) to 132.1% ( 132.1 % ) in 2018 . the following table shows capital spending for operations by business segment for the years ended december 31 , 2018 , 2017 and 2016 , excluding amounts related to discontinued operations of $ 111 million in 2017 and $ 107 million in 2016. .
|in millions|2018|2017|2016|
|industrial packaging|$ 1061|$ 836|$ 832|
|global cellulose fibers|183|188|174|
|printing papers|303|235|215|
|subtotal|1547|1259|1221|
|corporate and other|25|21|20|
|capital spending|$ 1572|$ 1280|$ 1241|
capital expenditures in 2019 are currently expected to be about $ 1.4 billion , or 104% ( 104 % ) of depreciation and amortization , including approximately $ 400 million of strategic investments. .
Question: what was the percentage of capital expenditures for operations in the industrial packaging business segment in 2018? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
2.35385 | Context:contractual obligations in 2011 , we issued $ 1200 million of senior notes and entered into the credit facility with third-party lenders in the amount of $ 1225 million . as of december 31 , 2011 , total outstanding long-term debt was $ 1859 million , consisting of these senior notes and the credit facility , in addition to $ 105 million of third party debt that remained outstanding subsequent to the spin-off . in connection with the spin-off , we entered into a transition services agreement with northrop grumman , under which northrop grumman or certain of its subsidiaries provides us with certain services to help ensure an orderly transition following the distribution . under the transition services agreement , northrop grumman provides , for up to 12 months following the spin-off , certain enterprise shared services ( including information technology , resource planning , financial , procurement and human resource services ) , benefits support services and other specified services . the original term of the transition services agreement ends on march 31 , 2012 , although we have the right to and have cancelled certain services as we transition to new third-party providers . the services provided by northrop grumman are charged to us at cost , and a limited number of these services may be extended for a period of approximately six months to allow full information systems transition . see note 20 : related party transactions and former parent company equity in item 8 . in connection with the spin-off , we entered into a tax matters agreement with northrop grumman ( the 201ctax matters agreement 201d ) that governs the respective rights , responsibilities and obligations of northrop grumman and us after the spin-off with respect to tax liabilities and benefits , tax attributes , tax contests and other tax sharing regarding u.s . federal , state , local and foreign income taxes , other taxes and related tax returns . we have several liabilities with northrop grumman to the irs for the consolidated u.s . federal income taxes of the northrop grumman consolidated group relating to the taxable periods in which we were part of that group . however , the tax matters agreement specifies the portion of this tax liability for which we will bear responsibility , and northrop grumman has agreed to indemnify us against any amounts for which we are not responsible . the tax matters agreement also provides special rules for allocating tax liabilities in the event that the spin-off , together with certain related transactions , is not tax-free . see note 20 : related party transactions and former parent company equity in item 8 . we do not expect either the transition services agreement or the tax matters agreement to have a significant impact on our financial condition and results of operations . the following table presents our contractual obligations as of december 31 , 2011 , and the related estimated timing of future cash payments : ( $ in millions ) total 2012 2013 - 2014 2015 - 2016 2017 and beyond .
|( $ in millions )|total|2012|2013 - 2014|2015 - 2016|2017 and beyond|
|long-term debt|$ 1859|$ 29|$ 129|$ 396|$ 1305|
|interest payments on long-term debt ( 1 )|854|112|219|202|321|
|operating leases|124|21|32|23|48|
|purchase obligations ( 2 )|2425|1409|763|209|44|
|other long-term liabilities ( 3 )|587|66|96|67|358|
|total contractual obligations|$ 5849|$ 1637|$ 1239|$ 897|$ 2076|
( 1 ) interest payments include interest on $ 554 million of variable interest rate debt calculated based on interest rates at december 31 , 2011 . ( 2 ) a 201cpurchase obligation 201d is defined as an agreement to purchase goods or services that is enforceable and legally binding on us and that specifies all significant terms , including : fixed or minimum quantities to be purchased ; fixed , minimum , or variable price provisions ; and the approximate timing of the transaction . these amounts are primarily comprised of open purchase order commitments to vendors and subcontractors pertaining to funded contracts . ( 3 ) other long-term liabilities primarily consist of total accrued workers 2019 compensation reserves , deferred compensation , and other miscellaneous liabilities , of which $ 201 million is the current portion of workers 2019 compensation liabilities . it excludes obligations for uncertain tax positions of $ 9 million , as the timing of the payments , if any , cannot be reasonably estimated . the above table excludes retirement related contributions . in 2012 , we expect to make minimum and discretionary contributions to our qualified pension plans of approximately $ 153 million and $ 65 million , respectively , exclusive of any u.s . government recoveries . we will continue to periodically evaluate whether to make additional discretionary contributions . in 2012 , we expect to make $ 35 million in contributions for our other postretirement plans , exclusive of any .
Question: in 2012 what is the ratio of the minimum to the discretionary contributions to our qualified pension plans | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.01968 | Context:global brand concepts american living launched exclusively at jcpenney in february 2008 , american living is a new tradition in american style for family and home , developed for the jcpenney customer by polo ralph lauren 2019s global brand concepts . american living features menswear , womenswear , childrenswear , accessories and home furnishings capturing the american spirit with modern style and superior quality . a complete lifestyle brand for the entire family and the home , american living mixes sporty , iconic essentials with eye-catching looks for a free-spirited take on contemporary style for every day . american living is available exclusively at jcpenney and jcp.com . chaps translates the classic heritage and timeless aesthetic of ralph lauren into an accessible line for men , women , children and the home . from casual basics designed for versatility and ease of wear to smart , finely tailored silhouettes perfect for business and more formal occasions , chaps creates interchangeable classics that are both enduring and affordable . the chaps men 2019s collection is available at select department and specialty stores . the chaps collections for women , children and the home are available only at kohl 2019s and kohls.com . our wholesale segment our wholesale segment sells our products to leading upscale and certain mid-tier department stores , specialty stores and golf and pro shops , both domestically and internationally . we have focused on elevating our brand and improving productivity by reducing the number of unproductive doors within department stores in which our products are sold , improving in-store product assortment and presentation , and improving full-price sell-throughs to consumers . as of the end of fiscal 2009 , our ralph lauren-branded products were sold through approximately 6100 doors worldwide and during fiscal 2009 , we invested approximately $ 35 million in related shop-within-shops primarily in domestic and international department and specialty stores . department stores are our major wholesale customers in north america . in europe , our wholesale sales are a varying mix of sales to both department stores and specialty shops , depending on the country . our collection brands 2014 women 2019s ralph lauren collection and black label and men 2019s purple label collection and black label 2014 are distributed through a limited number of premier fashion retailers . in addition , we sell excess and out- of-season products through secondary distribution channels , including our retail factory stores . in japan , our products are distributed primarily through shop-within-shops at premiere department stores . the mix of business is weighted to polo ralph lauren in men 2019s and women 2019s blue label . the distribution of men 2019s and women 2019s black label is also expanding through shop-within-shop presentations in top tier department stores across japan . worldwide distribution channels the following table presents the approximate number of doors by geographic location , in which ralph lauren- branded products distributed by our wholesale segment were sold to consumers in our primary channels of distribution as of march 28 , 2009 : location number of doors ( a ) .
|location|number of doors ( a )|
|united states and canada|2104|
|europe|3873|
|japan|120|
|total|6097|
( a ) in asia/pacific ( excluding japan ) , our products are distributed by our licensing partners. .
Question: what percentage of worldwide distribution channels doors were located in japan? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
61.0 | Context:table of contents 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 index , the s&p computer hardware index , and the dow jones u.s . technology supersector index . the graph assumes $ 100 was invested in each of the company 2019s common stock , the s&p 500 index , the s&p computer hardware index , and the dow jones u.s . technology supersector index as of the market close on september 30 , 2008 . data points on the graph are annual . note that historic stock price performance is not necessarily indicative of future stock price performance . fiscal year ending september 30 . copyright 2013 s&p , a division of the mcgraw-hill companies inc . all rights reserved . copyright 2013 dow jones & co . all rights reserved . *$ 100 invested on 9/30/08 in stock or index , including reinvestment of dividends . september 30 , september 30 , september 30 , september 30 , september 30 , september 30 .
||september 30 2008|september 30 2009|september 30 2010|september 30 2011|september 30 2012|september 30 2013|
|apple inc .|$ 100|$ 163|$ 250|$ 335|$ 589|$ 431|
|s&p 500 index|$ 100|$ 93|$ 103|$ 104|$ 135|$ 161|
|s&p computer hardware index|$ 100|$ 118|$ 140|$ 159|$ 255|$ 197|
|dow jones us technology supersector index|$ 100|$ 111|$ 124|$ 128|$ 166|$ 175|
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Question: what was the cumulative change in value for the s&p index between 2008 and 2013? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-0.0142 | Context:shareowner return performance graph the following performance graph and related information shall not be deemed 201csoliciting material 201d or to be 201cfiled 201d with the securities and exchange commission , nor shall such information be incorporated by reference into any future filing under the securities act of 1933 or securities exchange act of 1934 , each as amended , except to the extent that the company specifically incorporates such information by reference into such filing . the following graph shows a five year comparison of cumulative total shareowners 2019 returns for our class b common stock , the standard & poor 2019s 500 index , and the dow jones transportation average . the comparison of the total cumulative return on investment , which is the change in the quarterly stock price plus reinvested dividends for each of the quarterly periods , assumes that $ 100 was invested on december 31 , 2005 in the standard & poor 2019s 500 index , the dow jones transportation average , and our class b common stock . comparison of five year cumulative total return $ 40.00 $ 60.00 $ 80.00 $ 100.00 $ 120.00 $ 140.00 $ 160.00 201020092008200720062005 s&p 500 ups dj transport .
||12/31/05|12/31/06|12/31/07|12/31/08|12/31/09|12/31/10|
|united parcel service inc .|$ 100.00|$ 101.76|$ 98.20|$ 78.76|$ 84.87|$ 110.57|
|standard & poor 2019s 500 index|$ 100.00|$ 115.79|$ 122.16|$ 76.96|$ 97.33|$ 111.99|
|dow jones transportation average|$ 100.00|$ 109.82|$ 111.38|$ 87.52|$ 103.79|$ 131.59|
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Question: what is the difference in total cumulative return on investment between united parcel service inc . and the standard & poor 2019s 500 index for the five year period ending 12/31/10? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
491.0 | Context:table of contents as of september 28 , 2013 . the company 2019s share repurchase program does not obligate it to acquire any specific number of shares . under the program , shares may be repurchased in privately negotiated and/or open market transactions , including under plans complying with rule 10b5-1 of the securities exchange act of 1934 , as amended ( the 201cexchange act 201d ) . in august 2012 , the company entered into an accelerated share repurchase arrangement ( 201casr 201d ) with a financial institution to purchase up to $ 1.95 billion of the company 2019s common stock in 2013 . in the first quarter of 2013 , 2.6 million shares were initially delivered to the company . in april 2013 , the purchase period for the asr ended and an additional 1.5 million shares were delivered to the company . in total , 4.1 million shares were delivered under the asr at an average repurchase price of $ 478.20 per share . the shares were retired in the quarters they were delivered , and the up-front payment of $ 1.95 billion was accounted for as a reduction to shareholders 2019 equity in the company 2019s consolidated balance sheet in the first quarter of 2013 . in april 2013 , the company entered into a new asr program with two financial institutions to purchase up to $ 12 billion of the company 2019s common stock . in exchange for up-front payments totaling $ 12 billion , the financial institutions committed to deliver shares during the asr 2019s purchase periods , which will end during 2014 . the total number of shares ultimately delivered , and therefore the average price paid per share , will be determined at the end of the applicable purchase period based on the volume weighted average price of the company 2019s stock during that period . during the third quarter of 2013 , 23.5 million shares were initially delivered to the company and retired . this does not represent the final number of shares to be delivered under the asr . the up-front payments of $ 12 billion were accounted for as a reduction to shareholders 2019 equity in the company 2019s consolidated balance sheet . the company reflected the asrs as a repurchase of common stock for purposes of calculating earnings per share and as forward contracts indexed to its own common stock . the forward contracts met all of the applicable criteria for equity classification , and , therefore , were not accounted for as derivative instruments . during 2013 , the company repurchased 19.4 million shares of its common stock in the open market at an average price of $ 464.11 per share for a total of $ 9.0 billion . these shares were retired upon repurchase . note 8 2013 comprehensive income comprehensive income consists of two components , net income and other comprehensive income . other comprehensive income refers to revenue , expenses , and gains and losses that under gaap are recorded as an element of shareholders 2019 equity but are excluded from net income . the company 2019s other comprehensive income consists of foreign currency translation adjustments from those subsidiaries not using the u.s . dollar as their functional currency , net deferred gains and losses on certain derivative instruments accounted for as cash flow hedges , and unrealized gains and losses on marketable securities classified as available-for-sale . the following table shows the components of aoci , net of taxes , as of september 28 , 2013 and september 29 , 2012 ( in millions ) : .
||2013|2012|
|cumulative foreign currency translation|$ -105 ( 105 )|$ 8|
|net unrecognized gains/losses on derivative instruments|-175 ( 175 )|-240 ( 240 )|
|net unrealized gains/losses on marketable securities|-191 ( 191 )|731|
|accumulated other comprehensive income/ ( loss )|$ -471 ( 471 )|$ 499|
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Question: excluding cumulative foreign currency translation in 2012 , what would the balance of \\naccumulated other comprehensive income/ ( loss ) be , 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: |
166.9 | Context:notes to consolidated financial statements 192 jpmorgan chase & co . / 2008 annual report consolidation analysis the multi-seller conduits administered by the firm were not consoli- dated at december 31 , 2008 and 2007 , because each conduit had issued expected loss notes ( 201celns 201d ) , the holders of which are com- mitted to absorbing the majority of the expected loss of each respective conduit . implied support the firm did not have and continues not to have any intent to pro- tect any eln holders from potential losses on any of the conduits 2019 holdings and has no plans to remove any assets from any conduit unless required to do so in its role as administrator . should such a transfer occur , the firm would allocate losses on such assets between itself and the eln holders in accordance with the terms of the applicable eln . expected loss modeling in determining the primary beneficiary of the conduits the firm uses a monte carlo 2013based model to estimate the expected losses of each of the conduits and considers the relative rights and obliga- tions of each of the variable interest holders . the firm 2019s expected loss modeling treats all variable interests , other than the elns , as its own to determine consolidation . the variability to be considered in the modeling of expected losses is based on the design of the enti- ty . the firm 2019s traditional multi-seller conduits are designed to pass credit risk , not liquidity risk , to its variable interest holders , as the assets are intended to be held in the conduit for the longer term . under fin 46 ( r ) , the firm is required to run the monte carlo-based expected loss model each time a reconsideration event occurs . in applying this guidance to the conduits , the following events , are considered to be reconsideration events , as they could affect the determination of the primary beneficiary of the conduits : 2022 new deals , including the issuance of new or additional variable interests ( credit support , liquidity facilities , etc ) ; 2022 changes in usage , including the change in the level of outstand- ing variable interests ( credit support , liquidity facilities , etc ) ; 2022 modifications of asset purchase agreements ; and 2022 sales of interests held by the primary beneficiary . from an operational perspective , the firm does not run its monte carlo-based expected loss model every time there is a reconsideration event due to the frequency of their occurrence . instead , the firm runs its expected loss model each quarter and includes a growth assump- tion for each conduit to ensure that a sufficient amount of elns exists for each conduit at any point during the quarter . as part of its normal quarterly modeling , the firm updates , when applicable , the inputs and assumptions used in the expected loss model . specifically , risk ratings and loss given default assumptions are continually updated . the total amount of expected loss notes out- standing at december 31 , 2008 and 2007 , were $ 136 million and $ 130 million , respectively . management has concluded that the model assumptions used were reflective of market participants 2019 assumptions and appropriately considered the probability of changes to risk ratings and loss given defaults . qualitative considerations the multi-seller conduits are primarily designed to provide an effi- cient means for clients to access the commercial paper market . the firm believes the conduits effectively disperse risk among all parties and that the preponderance of the economic risk in the firm 2019s multi- seller conduits is not held by jpmorgan chase . consolidated sensitivity analysis on capital the table below shows the impact on the firm 2019s reported assets , lia- bilities , tier 1 capital ratio and tier 1 leverage ratio if the firm were required to consolidate all of the multi-seller conduits that it admin- isters at their current carrying value . december 31 , 2008 ( in billions , except ratios ) reported pro forma ( a ) ( b ) .
|( in billions except ratios )|reported|pro forma ( a ) ( b )|
|assets|$ 2175.1|$ 2218.2|
|liabilities|2008.2|2051.3|
|tier 1 capital ratio|10.9% ( 10.9 % )|10.9% ( 10.9 % )|
|tier 1 leverage ratio|6.9|6.8|
( a ) the table shows the impact of consolidating the assets and liabilities of the multi- seller conduits at their current carrying value ; as such , there would be no income statement or capital impact at the date of consolidation . if the firm were required to consolidate the assets and liabilities of the conduits at fair value , the tier 1 capital ratio would be approximately 10.8% ( 10.8 % ) . the fair value of the assets is primarily based upon pricing for comparable transactions . the fair value of these assets could change significantly because the pricing of conduit transactions is renegotiated with the client , generally , on an annual basis and due to changes in current market conditions . ( b ) consolidation is assumed to occur on the first day of the quarter , at the quarter-end levels , in order to provide a meaningful adjustment to average assets in the denomi- nator of the leverage ratio . the firm could fund purchases of assets from vies should it become necessary . 2007 activity in july 2007 , a reverse repurchase agreement collateralized by prime residential mortgages held by a firm-administered multi-seller conduit was put to jpmorgan chase under its deal-specific liquidity facility . the asset was transferred to and recorded by jpmorgan chase at its par value based on the fair value of the collateral that supported the reverse repurchase agreement . during the fourth quarter of 2007 , additional information regarding the value of the collateral , including performance statistics , resulted in the determi- nation by the firm that the fair value of the collateral was impaired . impairment losses were allocated to the eln holder ( the party that absorbs the majority of the expected loss from the conduit ) in accor- dance with the contractual provisions of the eln note . on october 29 , 2007 , certain structured cdo assets originated in the second quarter of 2007 and backed by subprime mortgages were transferred to the firm from two firm-administered multi-seller conduits . it became clear in october that commercial paper investors and rating agencies were becoming increasingly concerned about cdo assets backed by subprime mortgage exposures . because of these concerns , and to ensure the continuing viability of the two conduits as financing vehicles for clients and as investment alternatives for commercial paper investors , the firm , in its role as administrator , transferred the cdo assets out of the multi-seller con- duits . the structured cdo assets were transferred to the firm at .
Question: in 2008 , what was shareholders equity ( in billions ) , as reported?\\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: |
0.68973 | Context:selling , general and administrative expenses increased $ 286.7 million to $ 1158.3 million in 2014 from $ 871.6 million in 2013 . as a percentage of net revenues , selling , general and administrative expenses increased to 37.5% ( 37.5 % ) in 2014 from 37.3% ( 37.3 % ) in 2013 . these changes were primarily attributable to the following : 2022 marketing costs increased $ 86.5 million to $ 333.0 million in 2014 from $ 246.5 million in 2013 primarily due to increased global sponsorship of professional teams and athletes . as a percentage of net revenues , marketing costs increased to 10.8% ( 10.8 % ) in 2014 from 10.5% ( 10.5 % ) . 2022 other costs increased increased $ 200.2 million to $ 825.3 million in 2014 from $ 625.1 million in 2013 . this increase was primarily due to higher personnel and other costs incurred for the continued expansion of our direct to consumer distribution channel , including increased investment for our brand house stores . this increase was also due to additional investment in our connected fitness business . as a percentage of net revenues , other costs were unchanged at 26.8% ( 26.8 % ) in 2014 and 2013 . income from operations increased $ 88.9 million , or 33.5% ( 33.5 % ) , to $ 354.0 million in 2014 from $ 265.1 million in 2013 . income from operations as a percentage of net revenues increased to 11.5% ( 11.5 % ) in 2014 from 11.4% ( 11.4 % ) in 2013 . interest expense , net increased $ 2.4 million to $ 5.3 million in 2014 from $ 2.9 million in 2013 . this increase was primarily due to the $ 150.0 million and $ 100.0 million term loans borrowed during 2014 . other expense , net increased $ 5.2 million to $ 6.4 million in 2014 from $ 1.2 million in 2013 . this increase was due to higher net losses in 2014 on the combined foreign currency exchange rate changes on transactions denominated in foreign currencies and our foreign currency derivative financial instruments as compared to 2013 . provision for income taxes increased $ 35.5 million to $ 134.2 million in 2014 from $ 98.7 million in 2013 . our effective tax rate was 39.2% ( 39.2 % ) in 2014 compared to 37.8% ( 37.8 % ) in 2013 . our effective tax rate for 2014 was higher than the effective tax rate for 2013 primarily due to increased foreign investments driving a lower proportion of foreign taxable income in 2014 and state tax credits received in 2013 . segment results of operations the net revenues and operating income ( loss ) associated with our segments are summarized in the following tables . the majority of corporate expenses within north america have not been allocated to international or connected fitness ; however , certain costs and revenues included within north america in the prior period have been allocated to connected fitness in the current period . prior period segment data has been recast by an immaterial amount within the tables to conform to the current period presentation . year ended december 31 , 2015 compared to year ended december 31 , 2014 net revenues by segment are summarized below: .
|( in thousands )|year ended december 31 , 2015|year ended december 31 , 2014|year ended december 31 , $ change|year ended december 31 , % ( % ) change|
|north america|$ 3455737|$ 2796374|$ 659363|23.6% ( 23.6 % )|
|international|454161|268771|185390|69.0|
|connected fitness|53415|19225|34190|177.8|
|total net revenues|$ 3963313|$ 3084370|$ 878943|28.5% ( 28.5 % )|
net revenues in our north america operating segment increased $ 659.3 million to $ 3455.7 million in 2015 from $ 2796.4 million in 2014 primarily due to the items discussed above in the consolidated results of operations . net revenues in international increased $ 185.4 million to $ 454.2 million in 2015 from $ 268.8 million in 2014 primarily due to unit sales growth in our emea and asia-pacific operating segments . net revenues in our connected fitness operating segment increased $ 34.2 million to $ 53.4 million in 2015 from $ 19.2 million in 2014 primarily due to revenues generated from our two connected fitness acquisitions in 2015 and growth in our existing connected fitness business. .
Question: in 2015 what was the percent of the growth in net revenues in international from 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: |
0.52454 | Context:table of contents research and development expense ( 201cr&d 201d ) r&d expense increased 34% ( 34 % ) or $ 449 million to $ 1.8 billion in 2010 compared to 2009 . this increase was due primarily to an increase in headcount and related expenses in the current year to support expanded r&d activities . also contributing to this increase in r&d expense in 2010 was the capitalization in 2009 of software development costs of $ 71 million related to mac os x snow leopard . although total r&d expense increased 34% ( 34 % ) during 2010 , it declined as a percentage of net sales given the 52% ( 52 % ) year-over-year increase in net sales in 2010 . the company continues to believe that focused investments in r&d are critical to its future growth and competitive position in the marketplace and are directly related to timely development of new and enhanced products that are central to the company 2019s core business strategy . as such , the company expects to make further investments in r&d to remain competitive . r&d expense increased 20% ( 20 % ) or $ 224 million to $ 1.3 billion in 2009 compared to 2008 . this increase was due primarily to an increase in headcount in 2009 to support expanded r&d activities and higher stock-based compensation expenses . additionally , $ 71 million of software development costs were capitalized related to mac os x snow leopard and excluded from r&d expense during 2009 , compared to $ 11 million of software development costs capitalized during 2008 . although total r&d expense increased 20% ( 20 % ) during 2009 , it remained relatively flat as a percentage of net sales given the 14% ( 14 % ) increase in revenue in 2009 . selling , general and administrative expense ( 201csg&a 201d ) sg&a expense increased $ 1.4 billion or 33% ( 33 % ) to $ 5.5 billion in 2010 compared to 2009 . this increase was due primarily to the company 2019s continued expansion of its retail segment , higher spending on marketing and advertising programs , increased stock-based compensation expenses and variable costs associated with the overall growth of the company 2019s net sales . sg&a expenses increased $ 388 million or 10% ( 10 % ) to $ 4.1 billion in 2009 compared to 2008 . this increase was due primarily to the company 2019s continued expansion of its retail segment in both domestic and international markets , higher stock-based compensation expense and higher spending on marketing and advertising . other income and expense other income and expense for the three years ended september 25 , 2010 , are as follows ( in millions ) : total other income and expense decreased $ 171 million or 52% ( 52 % ) to $ 155 million during 2010 compared to $ 326 million and $ 620 million in 2009 and 2008 , respectively . the overall decrease in other income and expense is attributable to the significant declines in interest rates on a year- over-year basis , partially offset by the company 2019s higher cash , cash equivalents and marketable securities balances . the weighted average interest rate earned by the company on its cash , cash equivalents and marketable securities was 0.75% ( 0.75 % ) , 1.43% ( 1.43 % ) and 3.44% ( 3.44 % ) during 2010 , 2009 and 2008 , respectively . additionally the company incurred higher premium expenses on its foreign exchange option contracts , which further reduced the total other income and expense . during 2010 , 2009 and 2008 , the company had no debt outstanding and accordingly did not incur any related interest expense . provision for income taxes the company 2019s effective tax rates were 24% ( 24 % ) , 32% ( 32 % ) and 32% ( 32 % ) for 2010 , 2009 and 2008 , respectively . the company 2019s effective rates for these periods differ from the statutory federal income tax rate of 35% ( 35 % ) due .
||2010|2009|2008|
|interest income|$ 311|$ 407|$ 653|
|other income ( expense ) net|-156 ( 156 )|-81 ( 81 )|-33 ( 33 )|
|total other income and expense|$ 155|$ 326|$ 620|
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Question: by how much did total other income and expense decrease 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: |
0.04298 | Context:issuer purchases of equity securities the following table provides information about our repurchases of common stock during the three-month period ended december 31 , 2007 . period total number of shares purchased average price paid per total number of shares purchased as part of publicly announced program ( a ) maximum number of shares that may yet be purchased under the program ( b ) .
|period|total number ofshares purchased|average pricepaid pershare|total number of sharespurchased as part ofpubliclyannouncedprogram ( a )|maximum number ofshares that may yet bepurchased under theprogram ( b )|
|october|127100|$ 108.58|127100|35573131|
|november|1504300|109.07|1504300|34068831|
|december|1325900|108.78|1325900|32742931|
( a ) we repurchased a total of 2957300 shares of our common stock during the quarter ended december 31 , 2007 under a share repurchase program that we announced in october 2002 . ( b ) our board of directors has approved a share repurchase program for the repurchase of up to 128 million shares of our common stock from time-to-time , including 20 million shares approved for repurchase by our board of directors in september 2007 . under the program , management has discretion to determine the number and price of the shares to be repurchased , and the timing of any repurchases , in compliance with applicable law and regulation . as of december 31 , 2007 , we had repurchased a total of 95.3 million shares under the program . in 2007 , we did not make any unregistered sales of equity securities. .
Question: for the quarter ended december 31 , 2007 what was the percent of the shared bought in october | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.01005 | Context:restrictive covenants the terms of the 2017 credit facility and certain of our senior unsecured notes include certain restrictions and covenants which may limit , among other things , our ability to pay dividends , make certain types of investments , incur additional indebtedness , incur liens and enter into negative pledge agreements and dispose of assets , and which require compliance with financial ratios relating to the maximum ratio of total indebtedness to total asset value , a minimum ratio of ebitda to fixed charges , a maximum ratio of secured indebtedness to total asset value and a maximum ratio of unsecured indebtedness to unencumbered asset value . the dividend restriction referred to above provides that , we will not during any time when a default is continuing , make distributions with respect to common stock or other equity interests , except to enable the company to continue to qualify as a reit for federal income tax purposes . as of december a031 , 2017 and 2016 , we were in compliance with all such covenants . junior subordinated deferrable interest debentures in june a02005 , the company and the operating partnership issued $ 100.0 a0million in unsecured trust preferred securities through a newly formed trust , sl a0green capital trust i , or the trust , which is a wholly-owned subsidiary of the operating partnership . the securities mature in 2035 and bear interest at a floating rate of 125 a0basis points over the three-month libor . interest payments may be deferred for a period of up to eight consecutive quarters if the operating partnership exercises its right to defer such payments . the trust preferred securities are redeemable at the option of the operating partnership , in whole or in part , with no prepayment premium . we do not consolidate the trust even though it is a variable interest entity as we are not the primary beneficiary . because the trust is not consolidated , we have recorded the debt on our consolidated balance sheets and the related payments are classified as interest expense . interest rate risk we are exposed to changes in interest rates primarily from our variable rate debt . our exposure to interest rate fluctuations are managed through either the use of interest rate derivative instru- ments and/or through our variable rate debt and preferred equity investments . a hypothetical 100 a0basis point increase in interest rates along the entire interest rate curve for a02017 would increase our consolidated annual interest cost , net of interest income from variable rate debt and preferred equity investments , by $ 2.7 a0mil- lion and would increase our share of joint venture annual interest cost by $ 17.2 a0million . at december a031 , 2017 , 61.5% ( 61.5 % ) of our $ 2.1 a0bil- lion debt and preferred equity portfolio is indexed to libor . we recognize most derivatives on the balance sheet at fair value . derivatives that are not hedges are adjusted to fair value through income . if a derivative is considered a hedge , depending on the nature of the hedge , changes in the fair value of the derivative will either be offset against the change in fair value of the hedged asset , liability , or firm commitment through earnings , or recog- nized in other comprehensive income until the hedged item is recognized in earnings . the ineffective portion of a derivative 2019s change in fair value is immediately recognized in a0earnings . our long-term debt of $ 4.3 a0billion bears interest at fixed rates , and therefore the fair value of these instruments is affected by changes in the market interest rates . our variable rate debt and variable rate joint venture debt as of december a031 , 2017 bore interest based on a spread of libor plus 100 a0basis points to libor plus 415 a0basis points . contractual obligations the combined aggregate principal maturities of mortgages and other loans payable , the 2017 credit facility , senior unsecured notes ( net of discount ) , trust preferred securities , our share of joint venture debt , including as-of-right extension options and put options , estimated interest expense , and our obligations under our capital lease and ground leases , as of december a031 , 2017 are as follows ( in a0thousands ) : .
||2018|2019|2020|2021|2022|thereafter|total|
|property mortgages and other loans|$ 153593|$ 42289|$ 703018|$ 11656|$ 208003|$ 1656623|$ 2775182|
|mra facilities|90809|2014|2014|2014|2014|2014|90809|
|revolving credit facility|2014|2014|2014|2014|2014|40000|40000|
|unsecured term loans|2014|2014|2014|2014|2014|1500000|1500000|
|senior unsecured notes|250000|2014|250000|2014|800000|100000|1400000|
|trust preferred securities|2014|2014|2014|2014|2014|100000|100000|
|capital lease|2387|2411|2620|2794|2794|819894|832900|
|ground leases|31049|31066|31436|31628|29472|703254|857905|
|estimated interest expense|226815|218019|184376|163648|155398|281694|1229950|
|joint venture debt|200250|717682|473809|449740|223330|2119481|4184292|
|total|$ 954903|$ 1011467|$ 1645259|$ 659466|$ 1418997|$ 7320946|$ 13011038|
.
Question: what was the 2019 rate of increase in capital lease payments? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
35.9 | Context:112 / sl green realty corp . 2017 annual report 20 . commitments and contingencies legal proceedings as of december a031 , 2017 , the company and the operating partnership were not involved in any material litigation nor , to management 2019s knowledge , was any material litigation threat- ened against us or our portfolio which if adversely determined could have a material adverse impact on us . environmental matters our management believes that the properties are in compliance in all material respects with applicable federal , state and local ordinances and regulations regarding environmental issues . management is not aware of any environmental liability that it believes would have a materially adverse impact on our financial position , results of operations or cash flows . management is unaware of any instances in which it would incur significant envi- ronmental cost if any of our properties were sold . employment agreements we have entered into employment agreements with certain exec- utives , which expire between december a02018 and february a02020 . the minimum cash-based compensation , including base sal- ary and guaranteed bonus payments , associated with these employment agreements total $ 5.4 a0million for 2018 . in addition these employment agreements provide for deferred compen- sation awards based on our stock price and which were valued at $ 1.6 a0million on the grant date . the value of these awards may change based on fluctuations in our stock price . insurance we maintain 201call-risk 201d property and rental value coverage ( includ- ing coverage regarding the perils of flood , earthquake and terrorism , excluding nuclear , biological , chemical , and radiological terrorism ( 201cnbcr 201d ) ) , within three property insurance programs and liability insurance . separate property and liability coverage may be purchased on a stand-alone basis for certain assets , such as the development of one vanderbilt . additionally , our captive insurance company , belmont insurance company , or belmont , pro- vides coverage for nbcr terrorist acts above a specified trigger , although if belmont is required to pay a claim under our insur- ance policies , we would ultimately record the loss to the extent of belmont 2019s required payment . however , there is no assurance that in the future we will be able to procure coverage at a reasonable cost . further , if we experience losses that are uninsured or that exceed policy limits , we could lose the capital invested in the damaged properties as well as the anticipated future cash flows from those plan trustees adopted a rehabilitation plan consistent with this requirement . no surcharges have been paid to the pension plan as of december a031 , 2017 . for the pension plan years ended june a030 , 2017 , 2016 , and 2015 , the plan received contributions from employers totaling $ 257.8 a0million , $ 249.5 a0million , and $ 221.9 a0million . our contributions to the pension plan represent less than 5.0% ( 5.0 % ) of total contributions to the plan . the health plan was established under the terms of collective bargaining agreements between the union , the realty advisory board on labor relations , inc . and certain other employees . the health plan provides health and other benefits to eligible participants employed in the building service industry who are covered under collective bargaining agreements , or other writ- ten agreements , with the union . the health plan is administered by a board of trustees with equal representation by the employ- ers and the union and operates under employer identification number a013-2928869 . the health plan receives contributions in accordance with collective bargaining agreements or participa- tion agreements . generally , these agreements provide that the employers contribute to the health plan at a fixed rate on behalf of each covered employee . for the health plan years ended , june a030 , 2017 , 2016 , and 2015 , the plan received contributions from employers totaling $ 1.3 a0billion , $ 1.2 a0billion and $ 1.1 a0billion , respectively . our contributions to the health plan represent less than 5.0% ( 5.0 % ) of total contributions to the plan . contributions we made to the multi-employer plans for the years ended december a031 , 2017 , 2016 and 2015 are included in the table below ( in thousands ) : .
|benefit plan|2017|2016|2015|
|pension plan|$ 3856|$ 3979|$ 2732|
|health plan|11426|11530|8736|
|other plans|1463|1583|5716|
|total plan contributions|$ 16745|$ 17092|$ 17184|
401 ( k ) plan in august a01997 , we implemented a 401 ( k ) a0savings/retirement plan , or the 401 ( k ) a0plan , to cover eligible employees of ours , and any designated affiliate . the 401 ( k ) a0plan permits eligible employees to defer up to 15% ( 15 % ) of their annual compensation , subject to certain limitations imposed by the code . the employees 2019 elective deferrals are immediately vested and non-forfeitable upon contribution to the 401 ( k ) a0plan . during a02003 , we amended our 401 ( k ) a0plan to pro- vide for discretionary matching contributions only . for 2017 , 2016 and 2015 , a matching contribution equal to 50% ( 50 % ) of the first 6% ( 6 % ) of annual compensation was made . for the year ended december a031 , 2017 , we made a matching contribution of $ 728782 . for the years ended december a031 , 2016 and 2015 , we made matching contribu- tions of $ 566000 and $ 550000 , respectively. .
Question: what was the range of the amount , in millions , the plan received from employers for the pension plan in 2015 , 2016 and 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: |
-0.2509 | Context:entergy corporation and subsidiaries management 2019s financial discussion and analysis the volume/weather variance is primarily due to an increase of 1402 gwh , or 1% ( 1 % ) , in billed electricity usage , including an increase in industrial usage and the effect of more favorable weather . the increase in industrial sales was primarily due to expansion in the chemicals industry and the addition of new customers , partially offset by decreased demand primarily due to extended maintenance outages for existing chemicals customers . 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 . 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 louisiana business combination customer credits variance is due to a regulatory liability of $ 107 million recorded by entergy in october 2015 as a result of the entergy gulf states louisiana and entergy louisiana business combination . consistent with the terms of the stipulated settlement in the business combination proceeding , electric customers of entergy louisiana will realize customer credits associated with the business combination ; accordingly , in october 2015 , entergy recorded a regulatory liability of $ 107 million ( $ 66 million net-of-tax ) . see note 2 to the financial statements for further discussion of the business combination and customer credits . 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 2016 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 is the growth rate in net revenue in 2015? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
36.55148 | Context:transfer agent and registrar for common stock the transfer agent and registrar for our common stock is : computershare shareowner services llc 480 washington boulevard 29th floor jersey city , new jersey 07310 telephone : ( 877 ) 363-6398 sales of unregistered securities not applicable . repurchase of equity securities the following table provides information regarding our purchases of our equity securities during the period from october 1 , 2015 to december 31 , 2015 . total number of shares ( or units ) purchased 1 average price paid per share ( or unit ) 2 total number of shares ( or units ) purchased as part of publicly announced plans or programs 3 maximum number ( or approximate dollar value ) of shares ( or units ) that may yet be purchased under the plans or programs 3 .
||total number ofshares ( or units ) purchased1|average price paidper share ( or unit ) 2|total number ofshares ( or units ) purchased as part ofpublicly announcedplans or programs3|maximum number ( or approximate dollar value ) of shares ( or units ) that may yet be purchased under the plans or programs3|
|october 1 - 31|2140511|$ 20.54|2139507|$ 227368014|
|november 1 - 30|1126378|$ 22.95|1124601|$ 201557625|
|december 1 - 31|1881992|$ 22.97|1872650|$ 158553178|
|total|5148881|$ 21.96|5136758||
1 included shares of our common stock , par value $ 0.10 per share , withheld under the terms of grants under employee stock-based compensation plans to offset tax withholding obligations that occurred upon vesting and release of restricted shares ( the 201cwithheld shares 201d ) . we repurchased 1004 withheld shares in october 2015 , 1777 withheld shares in november 2015 and 9342 withheld shares in december 2015 . 2 the average price per share for each of the months in the fiscal quarter and for the three-month period was calculated by dividing the sum of the applicable period of the aggregate value of the tax withholding obligations and the aggregate amount we paid for shares acquired under our stock repurchase program , described in note 5 to the consolidated financial statements , by the sum of the number of withheld shares and the number of shares acquired in our stock repurchase program . 3 in february 2015 , the board authorized a share repurchase program to repurchase from time to time up to $ 300.0 million , excluding fees , of our common stock ( the 201c2015 share repurchase program 201d ) . on february 12 , 2016 , we announced that our board had approved a new share repurchase program to repurchase from time to time up to $ 300.0 million , excluding fees , of our common stock . the new authorization is in addition to any amounts remaining for repurchase under the 2015 share repurchase program . there is no expiration date associated with the share repurchase programs. .
Question: what percentage of total shares purchased was purchased in december? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
12.1 | Context:entergy louisiana , llc and subsidiaries management 2019s financial discussion and analysis entergy louisiana may refinance , redeem , or otherwise retire debt prior to maturity , to the extent market conditions and interest and distribution rates are favorable . all debt and common and preferred membership interest issuances by entergy louisiana require prior regulatory approval . preferred membership interest and debt issuances are also subject to issuance tests set forth in its bond indentures and other agreements . entergy louisiana has sufficient capacity under these tests to meet its foreseeable capital needs . entergy louisiana 2019s receivables from the money pool were as follows as of december 31 for each of the following years. .
|2016|2015|2014|2013|
|( in thousands )|( in thousands )|( in thousands )|( in thousands )|
|$ 22503|$ 6154|$ 2815|$ 19573|
see note 4 to the financial statements for a description of the money pool . entergy louisiana has a credit facility in the amount of $ 350 million scheduled to expire in august 2021 . the credit facility allows entergy louisiana to issue letters of credit against 50% ( 50 % ) of the borrowing capacity of the facility . as of december 31 , 2016 , there were no cash borrowings and a $ 6.4 million letter of credit outstanding under the credit facility . in addition , entergy louisiana is party to an uncommitted letter of credit facility as a means to post collateral to support its obligations under miso . as of december 31 , 2016 , a $ 5.7 million letter of credit was outstanding under entergy louisiana 2019s uncommitted letter of credit facility . see note 4 to the financial statements for additional discussion of the credit facilities . the entergy louisiana nuclear fuel company variable interest entities have two separate credit facilities , one in the amount of $ 105 million and one in the amount of $ 85 million , both scheduled to expire in may 2019 . as of december 31 , 2016 , $ 3.8 million of letters of credit were outstanding under the credit facility to support a like amount of commercial paper issued by the entergy louisiana waterford 3 nuclear fuel company variable interest entity and there were no cash borrowings outstanding under the credit facility for the entergy louisiana river bend nuclear fuel company variable interest entity . see note 4 to the financial statements for additional discussion of the nuclear fuel company variable interest entity credit facility . entergy louisiana obtained authorizations from the ferc through october 2017 for the following : 2022 short-term borrowings not to exceed an aggregate amount of $ 450 million at any time outstanding ; 2022 long-term borrowings and security issuances ; and 2022 long-term borrowings by its nuclear fuel company variable interest entities . see note 4 to the financial statements for further discussion of entergy louisiana 2019s short-term borrowing limits . hurricane isaac in june 2014 the lpsc voted to approve a series of orders which ( i ) quantified $ 290.8 million of hurricane isaac system restoration costs as prudently incurred ; ( ii ) determined $ 290 million as the level of storm reserves to be re-established ; ( iii ) authorized entergy louisiana to utilize louisiana act 55 financing for hurricane isaac system restoration costs ; and ( iv ) granted other requested relief associated with storm reserves and act 55 financing of hurricane isaac system restoration costs . entergy louisiana committed to pass on to customers a minimum of $ 30.8 million of customer benefits through annual customer credits of approximately $ 6.2 million for five years . approvals for the act 55 financings were obtained from the louisiana utilities restoration corporation and the louisiana state bond commission . see note 2 to the financial statements for a discussion of the august 2014 issuance of bonds under act 55 of the louisiana legislature. .
Question: the company had several letters of credit outstanding . as of december 31 , 2016 , what was the total amount outstanding under the august 2021 facility and the entergy louisiana facility , in millions?\\n\\n | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.10805 | 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 percentage change in the net interest income from 2011 to 2012 | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
5.4 | Context:amortization expense , which is included in selling , general and administrative expenses , was $ 13.0 million , $ 13.9 million and $ 8.5 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively . the following is the estimated amortization expense for the company 2019s intangible assets as of december 31 , 2016 : ( in thousands ) .
|2017|$ 10509|
|2018|9346|
|2019|9240|
|2020|7201|
|2021|5318|
|2022 and thereafter|16756|
|amortization expense of intangible assets|$ 58370|
at december 31 , 2016 , 2015 and 2014 , the company determined that its goodwill and indefinite- lived intangible assets were not impaired . 5 . credit facility and other long term debt credit facility the company is party to a credit agreement that provides revolving commitments for up to $ 1.25 billion of borrowings , as well as term loan commitments , in each case maturing in january 2021 . as of december 31 , 2016 there was no outstanding balance under the revolving credit facility and $ 186.3 million of term loan borrowings remained outstanding . at the company 2019s request and the lender 2019s consent , revolving and or term loan borrowings may be increased by up to $ 300.0 million in aggregate , subject to certain conditions as set forth in the credit agreement , as amended . incremental borrowings are uncommitted and the availability thereof , will depend on market conditions at the time the company seeks to incur such borrowings . the borrowings under the revolving credit facility have maturities of less than one year . up to $ 50.0 million of the facility may be used for the issuance of letters of credit . there were $ 2.6 million of letters of credit outstanding as of december 31 , 2016 . the credit agreement contains negative covenants that , subject to significant exceptions , limit the ability of the company and its subsidiaries to , among other things , incur additional indebtedness , make restricted payments , pledge their assets as security , make investments , loans , advances , guarantees and acquisitions , undergo fundamental changes and enter into transactions with affiliates . the company is also required to maintain a ratio of consolidated ebitda , as defined in the credit agreement , to consolidated interest expense of not less than 3.50 to 1.00 and is not permitted to allow the ratio of consolidated total indebtedness to consolidated ebitda to be greater than 3.25 to 1.00 ( 201cconsolidated leverage ratio 201d ) . as of december 31 , 2016 , the company was in compliance with these ratios . in addition , the credit agreement contains events of default that are customary for a facility of this nature , and includes a cross default provision whereby an event of default under other material indebtedness , as defined in the credit agreement , will be considered an event of default under the credit agreement . borrowings under the credit agreement bear interest at a rate per annum equal to , at the company 2019s option , either ( a ) an alternate base rate , or ( b ) a rate based on the rates applicable for deposits in the interbank market for u.s . dollars or the applicable currency in which the loans are made ( 201cadjusted libor 201d ) , plus in each case an applicable margin . the applicable margin for loans will .
Question: what was the difference in millions of amortization expense between 2014 and 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: |
3781.0 | Context:the goldman sachs group , inc . and subsidiaries management 2019s discussion and analysis investing & lending investing & lending includes our investing activities and the origination of loans to provide financing to clients . these investments and loans are typically longer-term in nature . we make investments , some of which are consolidated , directly and indirectly through funds and separate accounts that we manage , in debt securities and loans , public and private equity securities , and real estate entities . the table below presents the operating results of our investing & lending segment. .
|$ in millions|year ended december 2015|year ended december 2014|year ended december 2013|
|equity securities|$ 3781|$ 4579|$ 4974|
|debt securities and loans|1655|2246|2044|
|total net revenues1|5436|6825|7018|
|operating expenses|2402|2819|2686|
|pre-tax earnings|$ 3034|$ 4006|$ 4332|
1 . net revenues related to our consolidated investments , previously reported in other net revenues within investing & lending , are now reported in equity securities and debt securities and loans , as results from these activities ( $ 391 million for 2015 ) are no longer significant principally due to the sale of metro in the fourth quarter of 2014 . reclassifications have been made to previously reported amounts to conform to the current presentation . 2015 versus 2014 . net revenues in investing & lending were $ 5.44 billion for 2015 , 20% ( 20 % ) lower than 2014 . this decrease was primarily due to lower net revenues from investments in equities , principally reflecting the sale of metro in the fourth quarter of 2014 and lower net gains from investments in private equities , driven by corporate performance . in addition , net revenues in debt securities and loans were significantly lower , reflecting lower net gains from investments . although net revenues in investing & lending for 2015 benefited from favorable company-specific events , including sales , initial public offerings and financings , a decline in global equity prices and widening high-yield credit spreads during the second half of the year impacted results . concern about the outlook for the global economy continues to be a meaningful consideration for the global marketplace . if equity markets continue to decline or credit spreads widen further , net revenues in investing & lending would likely continue to be negatively impacted . operating expenses were $ 2.40 billion for 2015 , 15% ( 15 % ) lower than 2014 , due to lower depreciation and amortization expenses , primarily reflecting lower impairment charges related to consolidated investments , and a reduction in expenses related to the sale of metro in the fourth quarter of 2014 . pre-tax earnings were $ 3.03 billion in 2015 , 24% ( 24 % ) lower than 2014 . 2014 versus 2013 . net revenues in investing & lending were $ 6.83 billion for 2014 , 3% ( 3 % ) lower than 2013 . net revenues from investments in equity securities were lower due to a significant decrease in net gains from investments in public equities , as movements in global equity prices during 2014 were less favorable compared with 2013 , as well as significantly lower net revenues related to our consolidated investments , reflecting a decrease in operating revenues from commodities-related consolidated investments . these decreases were partially offset by an increase in net gains from investments in private equities , primarily driven by company-specific events . net revenues from debt securities and loans were higher than 2013 , reflecting a significant increase in net interest income , primarily driven by increased lending , and a slight increase in net gains , primarily due to sales of certain investments during 2014 . during 2014 , net revenues in investing & lending generally reflected favorable company-specific events , including initial public offerings and financings , and strong corporate performance , as well as net gains from sales of certain investments . operating expenses were $ 2.82 billion for 2014 , 5% ( 5 % ) higher than 2013 , reflecting higher compensation and benefits expenses , partially offset by lower expenses related to consolidated investments . pre-tax earnings were $ 4.01 billion in 2014 , 8% ( 8 % ) lower than 2013 . 64 goldman sachs 2015 form 10-k .
Question: in millions for 2015 , 2014 , and 2013 , what was the lowest equity securities?\\n\\n | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
121.8 | Context:page 29 of 98 in connection with the internal revenue service 2019s ( irs ) examination of ball 2019s consolidated income tax returns for the tax years 2000 through 2004 , the irs has proposed to disallow ball 2019s deductions of interest expense incurred on loans under a company-owned life insurance plan that has been in place for more than 20 years . ball believes that its interest deductions will be sustained as filed and , therefore , no provision for loss has been recorded . the total potential liability for the audit years 1999 through 2004 , unaudited year 2005 and an estimate of the impact on 2006 is approximately $ 31 million , excluding related interest . the irs has withdrawn its proposed adjustments for any penalties . see note 13 accompanying the consolidated financial statements within item 8 of this annual report . results of equity affiliates equity in the earnings of affiliates in 2006 is primarily attributable to our 50 percent ownership in packaging investments in the u.s . and brazil . earnings in 2004 included the results of a minority-owned aerospace business , which was sold in october 2005 , and a $ 15.2 million loss representing ball 2019s share of a provision for doubtful accounts relating to its 35 percent interest in sanshui jfp ( discussed above in 201cmetal beverage packaging , europe/asia 201d ) . after consideration of the prc loss , earnings were $ 14.7 million in 2006 compared to $ 15.5 million in 2005 and $ 15.8 million in 2004 . critical and significant accounting policies and new accounting pronouncements for information regarding the company 2019s critical and significant accounting policies , as well as recent accounting pronouncements , see note 1 to the consolidated financial statements within item 8 of this report . financial condition , liquidity and capital resources cash flows and capital expenditures cash flows from operating activities were $ 401.4 million in 2006 compared to $ 558.8 million in 2005 and $ 535.9 million in 2004 . management internally uses a free cash flow measure : ( 1 ) to evaluate the company 2019s operating results , ( 2 ) for planning purposes , ( 3 ) to evaluate strategic investments and ( 4 ) to evaluate the company 2019s ability to incur and service debt . free cash flow is not a defined term under u.s . generally accepted accounting principles , and it should not be inferred that the entire free cash flow amount is available for discretionary expenditures . the company defines free cash flow as cash flow from operating activities less additions to property , plant and equipment ( capital spending ) . free cash flow is typically derived directly from the company 2019s cash flow statements ; however , it may be adjusted for items that affect comparability between periods . an example of such an item included in 2006 is the property insurance proceeds for the replacement of the fire-damaged assets in our hassloch , germany , plant , which is included in capital spending amounts . based on this , our consolidated free cash flow is summarized as follows: .
|( $ in millions )|2006|2005|2004|
|cash flows from operating activities|$ 401.4|$ 558.8|$ 535.9|
|capital spending|-279.6 ( 279.6 )|-291.7 ( 291.7 )|-196.0 ( 196.0 )|
|proceeds for replacement of fire-damaged assets|61.3|2013|2013|
|free cash flow|$ 183.1|$ 267.1|$ 339.9|
cash flows from operating activities in 2006 were negatively affected by higher cash pension funding and higher working capital levels compared to the prior year . the higher working capital was a combination of higher than planned raw material inventory levels , higher income tax payments and higher accounts receivable balances , the latter resulting primarily from the repayment of a portion of the accounts receivable securitization program and late payments from customers in europe . management expects the increase in working capital to be temporary and that working capital levels will return to normal levels by the end of the first half of 2007. .
Question: for 2006 , without the cash due to replacement of fire-damaged assets , what would free cash flow have been , in millions? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-0.4 | Context:entergy mississippi , inc . 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 increased $ 23.4 million primarily due to a lower effective income tax rate . 2010 compared to 2009 net income increased $ 6.0 million primarily due to higher net revenue and higher other income , partially offset by higher taxes other than income taxes , higher depreciation and amortization expenses , and higher interest expense . 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|$ 555.3|
|volume/weather|-4.5 ( 4.5 )|
|transmission equalization|4.5|
|other|-0.4 ( 0.4 )|
|2011 net revenue|$ 554.9|
the volume/weather variance is primarily due to a decrease of 97 gwh in weather-adjusted usage in the residential and commercial sectors and a decrease in sales volume in the unbilled sales period . the transmission equalization variance is primarily due to the addition in 2011 of transmission investments that are subject to equalization . gross operating revenues and fuel and purchased power expenses gross operating revenues increased primarily due to an increase of $ 57.5 million in gross wholesale revenues due to an increase in sales to affiliated customers , partially offset by a decrease of $ 26.9 million in power management rider revenue . fuel and purchased power expenses increased primarily due to an increase in deferred fuel expense as a result of higher fuel revenues due to higher fuel rates , partially offset by a decrease in the average market prices of natural gas and purchased power. .
Question: what is the net change in net revenues from 2010 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: |
3.37 | 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 percentage 5 year cumulative total return for apple inc . for the the period ended 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: |
12.0 | Context:notes to consolidated financial statements ( continued ) note 8 2014shareholders 2019 equity ( continued ) the following table summarizes activity in other comprehensive income related to derivatives , net of taxes , held by the company ( in millions ) : .
||2006|2005|2004|
|changes in fair value of derivatives|$ 11|$ 7|$ -21 ( 21 )|
|adjustment for net losses realized and included in net income|-12 ( 12 )|1|33|
|change in unrealized gain/loss on derivative instruments|$ -1 ( 1 )|$ 8|$ 12|
the tax effect related to the changes in fair value of derivatives was $ ( 8 ) million , $ ( 3 ) million , and $ 10 million for 2006 , 2005 , and 2004 , respectively . the tax effect related to derivative gains/losses reclassified from other comprehensive income to net income was $ 8 million , $ ( 2 ) million , and $ ( 13 ) million for 2006 , 2005 , and 2004 , respectively . employee benefit plans 2003 employee stock plan the 2003 employee stock plan ( the 201c2003 plan 201d ) is a shareholder approved plan that provides for broad- based grants to employees , including executive officers . based on the terms of individual option grants , options granted under the 2003 plan generally expire 7 to 10 years after the grant date and generally become exercisable over a period of 4 years , based on continued employment , with either annual or quarterly vesting . the 2003 plan permits the granting of incentive stock options , nonstatutory stock options , restricted stock units , stock appreciation rights , and stock purchase rights . 1997 employee stock option plan in august 1997 , the company 2019s board of directors approved the 1997 employee stock option plan ( the 201c1997 plan 201d ) , a non-shareholder approved plan for grants of stock options to employees who are not officers of the company . based on the terms of individual option grants , options granted under the 1997 plan generally expire 7 to 10 years after the grant date and generally become exercisable over a period of 4 years , based on continued employment , with either annual or quarterly vesting . in october 2003 , the company terminated the 1997 employee stock option plan and cancelled all remaining unissued shares totaling 28590702 . no new options can be granted from the 1997 plan . employee stock option exchange program on march 20 , 2003 , the company announced a voluntary employee stock option exchange program ( the 201cexchange program 201d ) whereby eligible employees , other than executive officers and members of the board of directors , had an opportunity to exchange outstanding options with exercise prices at or above $ 12.50 per share for a predetermined smaller number of new stock options issued with exercise prices equal to the fair market value of one share of the company 2019s common stock on the day the new awards were issued , which was to be at least six months plus one day after the exchange options were cancelled . on april 17 , 2003 , in accordance with the exchange program , the company cancelled options to purchase 33138386 shares of its common stock . on october 22 , 2003 , new stock options totaling 13394736 shares were issued to employees at an exercise price of $ 11.38 per share , which is equivalent to the closing price of the company 2019s stock on that date . no financial or accounting impact to the company 2019s financial position , results of operations or cash flows was associated with this transaction. .
Question: what was the greatest annual change in unrealized gain/loss on derivative instruments , 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: |
1.2 | Context:part i item 1 . business . general development of business general : altria group , inc . is a holding company incorporated in the commonwealth of virginia in 1985 . at december 31 , 2014 , altria group , inc . 2019s wholly-owned subsidiaries included philip morris usa inc . ( 201cpm usa 201d ) , which is engaged predominantly in the manufacture and sale of cigarettes in the united states ; john middleton co . ( 201cmiddleton 201d ) , which is engaged in the manufacture and sale of machine-made large cigars and pipe tobacco , and is a wholly- owned subsidiary of pm usa ; and ust llc ( 201cust 201d ) , which through its wholly-owned subsidiaries , including u.s . smokeless tobacco company llc ( 201cusstc 201d ) and ste . michelle wine estates ltd . ( 201cste . michelle 201d ) , is engaged in the manufacture and sale of smokeless tobacco products and wine . altria group , inc . 2019s other operating companies included nu mark llc ( 201cnu mark 201d ) , a wholly-owned subsidiary that is engaged in the manufacture and sale of innovative tobacco products , and philip morris capital corporation ( 201cpmcc 201d ) , a wholly-owned subsidiary that maintains a portfolio of finance assets , substantially all of which are leveraged leases . other altria group , inc . wholly-owned subsidiaries included altria group distribution company , which provides sales , distribution and consumer engagement services to certain altria group , inc . operating subsidiaries , and altria client services inc. , which provides various support services , such as legal , regulatory , finance , human resources and external affairs , to altria group , inc . and its subsidiaries . at december 31 , 2014 , altria group , inc . also held approximately 27% ( 27 % ) of the economic and voting interest of sabmiller plc ( 201csabmiller 201d ) , which altria group , inc . accounts for under the equity method of accounting . source of funds : because altria group , inc . is a holding company , its access to the operating cash flows of its wholly- owned subsidiaries consists of cash received from the payment of dividends and distributions , and the payment of interest on intercompany loans by its subsidiaries . at december 31 , 2014 , altria group , inc . 2019s principal wholly-owned subsidiaries were not limited by long-term debt or other agreements in their ability to pay cash dividends or make other distributions with respect to their equity interests . in addition , altria group , inc . receives cash dividends on its interest in sabmiller if and when sabmiller pays such dividends . financial information about segments altria group , inc . 2019s reportable segments are smokeable products , smokeless products and wine . the financial services and the innovative tobacco products businesses are included in an all other category due to the continued reduction of the lease portfolio of pmcc and the relative financial contribution of altria group , inc . 2019s innovative tobacco products businesses to altria group , inc . 2019s consolidated results . altria group , inc . 2019s chief operating decision maker reviews operating companies income to evaluate the performance of , and allocate resources to , the segments . operating companies income for the segments is defined as operating income before amortization of intangibles and general corporate expenses . interest and other debt expense , net , and provision for income taxes are centrally managed at the corporate level and , accordingly , such items are not presented by segment since they are excluded from the measure of segment profitability reviewed by altria group , inc . 2019s chief operating decision maker . net revenues and operating companies income ( together with a reconciliation to earnings before income taxes ) attributable to each such segment for each of the last three years are set forth in note 15 . segment reporting to the consolidated financial statements in item 8 . financial statements and supplementary data of this annual report on form 10-k ( 201citem 8 201d ) . information about total assets by segment is not disclosed because such information is not reported to or used by altria group , inc . 2019s chief operating decision maker . segment goodwill and other intangible assets , net , are disclosed in note 4 . goodwill and other intangible assets , net to the consolidated financial statements in item 8 ( 201cnote 4 201d ) . the accounting policies of the segments are the same as those described in note 2 . summary of significant accounting policies to the consolidated financial statements in item 8 ( 201cnote 2 201d ) . the relative percentages of operating companies income ( loss ) attributable to each reportable segment and the all other category were as follows: .
||2014|2013|2012|
|smokeable products|87.2% ( 87.2 % )|84.5% ( 84.5 % )|83.7% ( 83.7 % )|
|smokeless products|13.4|12.2|12.5|
|wine|1.7|1.4|1.4|
|all other|-2.3 ( 2.3 )|1.9|2.4|
|total|100.0% ( 100.0 % )|100.0% ( 100.0 % )|100.0% ( 100.0 % )|
for items affecting the comparability of the relative percentages of operating companies income ( loss ) attributable to each reportable segment , see note 15 . segment reporting to the consolidated financial statements in item 8 ( 201cnote 15 201d ) . narrative description of business portions of the information called for by this item are included in item 7 . management 2019s discussion and analysis of financial condition and results of operations - operating results by business segment of this annual report on form 10-k . tobacco space altria group , inc . 2019s tobacco operating companies include pm usa , usstc and other subsidiaries of ust , middleton and nu mark . altria group distribution company provides sales , distribution and consumer engagement services to altria group , inc . 2019s tobacco operating companies . the products of altria group , inc . 2019s tobacco subsidiaries include smokeable tobacco products comprised of cigarettes manufactured and sold by pm usa and machine-made large altria_mdc_2014form10k_nolinks_crops.pdf 3 2/25/15 5:56 pm .
Question: what is the percent change in the relative percentages of operating companies income ( loss ) attributable to smokeless products 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: |
0.04786 | Context:the goldman sachs group , inc . and subsidiaries management 2019s discussion and analysis net revenues the table below presents our net revenues by line item in the consolidated statements of earnings. .
|$ in millions|year ended december 2017|year ended december 2016|year ended december 2015|
|investment banking|$ 7371|$ 6273|$ 7027|
|investment management|5803|5407|5868|
|commissions and fees|3051|3208|3320|
|market making|7660|9933|9523|
|other principal transactions|5256|3200|5018|
|totalnon-interestrevenues|29141|28021|30756|
|interest income|13113|9691|8452|
|interest expense|10181|7104|5388|
|net interest income|2932|2587|3064|
|total net revenues|$ 32073|$ 30608|$ 33820|
in the table above : 2030 investment banking consists of revenues ( excluding net interest ) from financial advisory and underwriting assignments , as well as derivative transactions directly related to these assignments . these activities are included in our investment banking segment . 2030 investment management consists of revenues ( excluding net interest ) from providing investment management services to a diverse set of clients , as well as wealth advisory services and certain transaction services to high-net-worth individuals and families . these activities are included in our investment management segment . 2030 commissions and fees consists of revenues from executing and clearing client transactions on major stock , options and futures exchanges worldwide , as well as over-the-counter ( otc ) transactions . these activities are included in our institutional client services and investment management segments . 2030 market making consists of revenues ( excluding net interest ) from client execution activities related to making markets in interest rate products , credit products , mortgages , currencies , commodities and equity products . these activities are included in our institutional client services segment . 2030 other principal transactions consists of revenues ( excluding net interest ) from our investing activities and the origination of loans to provide financing to clients . in addition , other principal transactions includes revenues related to our consolidated investments . these activities are included in our investing & lending segment . operating environment . during 2017 , generally higher asset prices and tighter credit spreads were supportive of industry-wide underwriting activities , investment management performance and other principal transactions . however , low levels of volatility in equity , fixed income , currency and commodity markets continued to negatively affect our market-making activities , particularly in fixed income , currency and commodity products . the price of natural gas decreased significantly during 2017 , while the price of oil increased compared with the end of 2016 . if the trend of low volatility continues over the long term and market-making activity levels remain low , or if investment banking activity levels , asset prices or assets under supervision decline , net revenues would likely be negatively impacted . see 201csegment operating results 201d below for further information about the operating environment and material trends and uncertainties that may impact our results of operations . the first half of 2016 included challenging trends in the operating environment for our business activities including concerns and uncertainties about global economic growth , central bank activity and the political uncertainty and economic implications surrounding the potential exit of the u.k . from the e.u . during the second half of 2016 , the operating environment improved , as global equity markets steadily increased and investment grade and high-yield credit spreads tightened . these trends provided a more favorable backdrop for our business activities . 2017 versus 2016 net revenues in the consolidated statements of earnings were $ 32.07 billion for 2017 , 5% ( 5 % ) higher than 2016 , due to significantly higher other principal transactions revenues , and higher investment banking revenues , investment management revenues and net interest income . these increases were partially offset by significantly lower market making revenues and lower commissions and fees . non-interest revenues . investment banking revenues in the consolidated statements of earnings were $ 7.37 billion for 2017 , 18% ( 18 % ) higher than 2016 . revenues in financial advisory were higher compared with 2016 , reflecting an increase in completed mergers and acquisitions transactions . revenues in underwriting were significantly higher compared with 2016 , due to significantly higher revenues in both debt underwriting , primarily reflecting an increase in industry-wide leveraged finance activity , and equity underwriting , reflecting an increase in industry-wide secondary offerings . 52 goldman sachs 2017 form 10-k .
Question: what is the growth rate in net revenues in 2017? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.10471 | Context:table of contents 2022 rugby is a vertical retail format featuring an aspirational lifestyle collection of apparel and accessories for men and women . the brand is characterized by a youthful , preppy attitude which resonates throughout the line and the store experience . in addition to generating sales of our products , our worldwide full-price stores set , reinforce and capitalize on the image of our brands . our stores range in size from approximately 800 to over 38000 square feet . these full-price stores are situated in major upscale street locations and upscale regional malls , generally in large urban markets . we generally lease our stores for initial periods ranging from 5 to 10 years with renewal options . factory retail stores we extend our reach to additional consumer groups through our 191 polo ralph lauren factory stores worldwide . our factory stores are generally located in outlet centers . we generally lease our stores for initial periods ranging from 5 to 10 years with renewal options . during fiscal 2011 , we added 19 new polo ralph lauren factory stores , net , and assumed 2 factory stores in connection with the south korea licensed operations acquisition ( see 201crecent developments 201d for further discussion ) . we operated the following factory retail stores as of april 2 , 2011 : location ralph lauren .
|location|polo ralph lauren|
|united states|140|
|europe|31|
|asia ( a )|20|
|total|191|
( a ) includes japan , south korea , china , hong kong , indonesia , malaysia , the philippines , singapore , taiwan and thailand . 2022 polo ralph lauren domestic factory stores offer selections of our menswear , womenswear , children 2019s apparel , accessories , home furnishings and fragrances . ranging in size from approximately 2500 to 20000 square feet , with an average of approximately 9500 square feet , these stores are principally located in major outlet centers in 37 states and puerto rico . 2022 europe factory stores offer selections of our menswear , womenswear , children 2019s apparel , accessories , home furnishings and fragrances . ranging in size from approximately 2300 to 10500 square feet , with an average of approximately 6000 square feet , these stores are located in 11 countries , principally in major outlet centers . 2022 asia factory stores offer selections of our menswear , womenswear , children 2019s apparel , accessories and fragrances . ranging in size from approximately 1000 to 12000 square feet , with an average of approximately 5000 square feet , these stores are primarily located throughout japan and in or near other major cities within the asia-pacific region , principally in major outlet centers . factory stores obtain products from our suppliers , our product licensing partners and our retail and e-commerce stores . concessions-based shop-within-shops in asia , the terms of trade for shop-within-shops are largely conducted on a concessions basis , whereby inventory continues to be owned by us ( not the department store ) until ultimate sale to the end consumer and the salespeople involved in the sales transaction are generally our employees . as of april 2 , 2011 , we had 510 concessions-based shop-within-shops at approximately 236 retail locations dedicated to our ralph lauren-branded products , primarily in asia , including 178 concessions-based shop-in-shops related to the south korea licensed operations acquisition . the size of our concessions-based shop-within-shops typically ranges from approximately 180 to 3600 square feet . we share in the cost of these shop-within-shops with our department store partners. .
Question: what percentage of factory retail stores as of april 2 , 2011 is asia? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-0.30841 | Context:the table below represents unrealized losses related to derivative amounts included in 201caccumulated other comprehensive loss 201d for the years ended december 31 , ( in thousands ) : balance in accumulated other comprehensive loss .
|contract type|balance in accumulated other comprehensive loss 2009|balance in accumulated other comprehensive loss 2008|
|interest rate swaps|$ 13053|$ 18874|
note 9 2013 fair value measurements the company uses the fair value hierarchy , which prioritizes the inputs used to measure the fair value of certain of its financial instruments . the hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities ( level 1 measurement ) and the lowest priority to unobservable inputs ( level 3 measurement ) . the three levels of the fair value hierarchy are set forth below : 2022 level 1 2013 quoted prices are available in active markets for identical assets or liabilities as of the reporting date . active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis . 2022 level 2 2013 pricing inputs are other than quoted prices in active markets included in level 1 , which are either directly or indirectly observable as of the reporting date . level 2 includes those financial instruments that are valued using models or other valuation methodologies . these models are primarily industry-standard models that consider various assumptions , including time value , volatility factors , and current market and contractual prices for the underlying instruments , as well as other relevant economic measures . substantially all of these assumptions are observable in the marketplace throughout the full term of the instrument , can be derived from observable data or are supported by observable levels at which transactions are executed in the marketplace . 2022 level 3 2013 pricing inputs include significant inputs that are generally less observable from objective sources . these inputs may be used with internally developed methodologies that result in management 2019s best estimate of fair value from the perspective of a market participant . the fair value of the interest rate swap transactions are based on the discounted net present value of the swap using third party quotes ( level 2 ) . changes in fair market value are recorded in other comprehensive income ( loss ) , and changes resulting from ineffectiveness are recorded in current earnings . assets and liabilities measured at fair value are based on one or more of three valuation techniques . the three valuation techniques are identified in the table below and are as follows : a ) market approach 2013 prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities b ) cost approach 2013 amount that would be required to replace the service capacity of an asset ( replacement cost ) c ) income approach 2013 techniques to convert future amounts to a single present amount based on market expectations ( including present value techniques , option-pricing and excess earnings models ) .
Question: what is the percentage change in the balance of accumulated other comprehensive loss from 2008 to 2009? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.2215 | Context:higher average borrowings . additionally , the recapitalization that occurred late in the first quarter of 2005 resulted in a full year of interest in 2006 as compared to approximately ten months in 2005 . the increase in interest expense in 2005 as compared to 2004 also resulted from the recapitalization in 2005 . income tax expense income tax expense totaled $ 150.2 million , $ 116.1 million and $ 118.3 million for 2006 , 2005 and 2004 , respectively . this resulted in an effective tax rate of 37.2% ( 37.2 % ) , 37.2% ( 37.2 % ) and 37.6% ( 37.6 % ) for 2006 , 2005 and 2004 , respectively . net earnings net earnings totaled $ 259.1 million , $ 196.6 and $ 189.4 million for 2006 , 2005 and 2004 , respectively , or $ 1.37 , $ 1.53 and $ 1.48 per diluted share , respectively . segment results of operations transaction processing services ( in thousands ) .
||2006|2005|2004|
|processing and services revenues|$ 2458777|$ 1208430|$ 892033|
|cost of revenues|1914148|904124|667078|
|gross profit|544629|304306|224955|
|selling general and administrative expenses|171106|94889|99581|
|research and development costs|70879|85702|54038|
|operating income|$ 302644|$ 123715|$ 71336|
revenues for the transaction processing services segment are derived from three main revenue channels ; enterprise solutions , integrated financial solutions and international . revenues from transaction processing services totaled $ 2458.8 million , $ 1208.4 and $ 892.0 million for 2006 , 2005 and 2004 , respectively . the overall segment increase of $ 1250.4 million during 2006 , as compared to 2005 was primarily attributable to the certegy merger which contributed $ 1067.2 million to the overall increase . the majority of the remaining 2006 growth is attributable to organic growth within the historically owned integrated financial solutions and international revenue channels , with international including $ 31.9 million related to the newly formed business process outsourcing operation in brazil . the overall segment increase of $ 316.4 in 2005 as compared to 2004 results from the inclusion of a full year of results for the 2004 acquisitions of aurum , sanchez , kordoba , and intercept , which contributed $ 301.1 million of the increase . cost of revenues for the transaction processing services segment totaled $ 1914.1 million , $ 904.1 million and $ 667.1 million for 2006 , 2005 and 2004 , respectively . the overall segment increase of $ 1010.0 million during 2006 as compared to 2005 was primarily attributable to the certegy merger which contributed $ 848.2 million to the increase . gross profit as a percentage of revenues ( 201cgross margin 201d ) was 22.2% ( 22.2 % ) , 25.2% ( 25.2 % ) and 25.2% ( 25.2 % ) for 2006 , 2005 and 2004 , respectively . the decrease in gross profit in 2006 as compared to 2005 is primarily due to the february 1 , 2006 certegy merger , which businesses typically have lower margins than those of the historically owned fis businesses . incremental intangible asset amortization relating to the certegy merger also contributed to the decrease in gross margin . included in cost of revenues was depreciation and amortization of $ 272.4 million , $ 139.8 million , and $ 94.6 million for 2006 , 2005 and 2004 , respectively . selling , general and administrative expenses totaled $ 171.1 million , $ 94.9 million and $ 99.6 million for 2006 , 2005 and 2004 , respectively . the increase in 2006 compared to 2005 is primarily attributable to the certegy merger which contributed $ 73.7 million to the overall increase of $ 76.2 million . the decrease of $ 4.7 million in 2005 as compared to 2004 is primarily attributable to the effect of acquisition related costs in 2004 . included in selling , general and administrative expenses was depreciation and amortization of $ 11.0 million , $ 9.1 million and $ 2.3 million for 2006 , 2005 and 2004 , respectively. .
Question: what is the gross profit margin 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: |
14.30757 | Context:vertex pharmaceuticals incorporated notes to consolidated financial statements ( continued ) i . altus investment ( continued ) of the offering , held 450000 shares of redeemable preferred stock , which are not convertible into common stock and which are redeemable for $ 10.00 per share plus annual dividends of $ 0.50 per share , which have been accruing since the redeemable preferred stock was issued in 1999 , at vertex 2019s option on or after december 31 , 2010 , or by altus at any time . the company was restricted from trading altus securities for a period of six months following the initial public offering . when the altus securities trading restrictions expired , the company sold the 817749 shares of altus common stock for approximately $ 11.7 million , resulting in a realized gain of approximately $ 7.7 million in august 2006 . additionally when the restrictions expired , the company began accounting for the altus warrants as derivative instruments under the financial accounting standards board statement no . fas 133 , 201caccounting for derivative instruments and hedging activities 201d ( 201cfas 133 201d ) . in accordance with fas 133 , in the third quarter of 2006 , the company recorded the altus warrants on its consolidated balance sheet at a fair market value of $ 19.1 million and recorded an unrealized gain on the fair market value of the altus warrants of $ 4.3 million . in the fourth quarter of 2006 the company sold the altus warrants for approximately $ 18.3 million , resulting in a realized loss of $ 0.7 million . as a result of the company 2019s sales of altus common stock and altus warrrants in 2006 , the company recorded a realized gain on a sale of investment of $ 11.2 million . in accordance with the company 2019s policy , as outlined in note b , 201caccounting policies , 201d the company assessed its investment in altus , which it accounts for using the cost method , and determined that there had not been any adjustments to the fair values of that investment that would require the company to write down the investment basis of the asset , in 2005 and 2006 . the company 2019s cost basis carrying value in its outstanding equity and warrants of altus was $ 18.9 million at december 31 , 2005 . j . accrued expenses and other current liabilities accrued expenses and other current liabilities consist of the following at december 31 ( in thousands ) : k . commitments the company leases its facilities and certain equipment under non-cancelable operating leases . the company 2019s leases have terms through april 2018 . the term of the kendall square lease began january 1 , 2003 and lease payments commenced in may 2003 . the company had an obligation under the kendall square lease , staged through 2006 , to build-out the space into finished laboratory and office space . this lease will expire in 2018 , and the company has the option to extend the term for two consecutive terms of ten years each , ultimately expiring in 2038 . the company occupies and uses for its operations approximately 120000 square feet of the kendall square facility . the company has sublease arrangements in place for the remaining rentable square footage of the kendall square facility , with initial terms that expires in april 2011 and august 2012 . see note e , 201crestructuring 201d for further information. .
||2006|2005|
|research and development contract costs|$ 57761|$ 20098|
|payroll and benefits|25115|15832|
|professional fees|3848|4816|
|other|4635|1315|
|total|$ 91359|$ 42061|
research and development contract costs $ 57761 $ 20098 payroll and benefits 25115 15832 professional fees 3848 4816 4635 1315 $ 91359 $ 42061 .
Question: what was the average price per share , in dollars , of the stock the company sold in august 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: |
1.19862 | Context:item 5 . market for the registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities the following graph compares annual total return of our common stock , the standard & poor 2019s 500 composite stock index ( 201cs&p 500 index 201d ) and our peer group ( 201cloews peer group 201d ) for the five years ended december 31 , 2016 . the graph assumes that the value of the investment in our common stock , the s&p 500 index and the loews peer group was $ 100 on december 31 , 2011 and that all dividends were reinvested. .
||2011|2012|2013|2014|2015|2016|
|loews common stock|100.0|108.91|129.64|113.59|104.47|128.19|
|s&p 500 index|100.0|116.00|153.57|174.60|177.01|198.18|
|loews peer group ( a )|100.0|113.39|142.85|150.44|142.44|165.34|
( a ) the loews peer group consists of the following companies that are industry competitors of our principal operating subsidiaries : chubb limited ( name change from ace limited after it acquired the chubb corporation on january 15 , 2016 ) , w.r . berkley corporation , the chubb corporation ( included through january 15 , 2016 when it was acquired by ace limited ) , energy transfer partners l.p. , ensco plc , the hartford financial services group , inc. , kinder morgan energy partners , l.p . ( included through november 26 , 2014 when it was acquired by kinder morgan inc. ) , noble corporation , spectra energy corp , transocean ltd . and the travelers companies , inc . dividend information we have paid quarterly cash dividends in each year since 1967 . regular dividends of $ 0.0625 per share of loews common stock were paid in each calendar quarter of 2016 and 2015. .
Question: in 2016 what was the ratio of the s&p 500 index to loews common stock overall growth from 2011 to 2016 | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.67391 | Context:2022 the failure of our information systems to function as intended or their penetration by outside parties with the intent to corrupt them or our failure to comply with privacy laws and regulations could result in business disruption , litigation and regulatory action , and loss of revenue , assets or personal or other confidential data . we use information systems to help manage business processes , collect and interpret business data and communicate internally and externally with employees , suppliers , customers and others . some of these information systems are managed by third-party service providers . we have backup systems and business continuity plans in place , and we take care to protect our systems and data from unauthorized access . nevertheless , failure of our systems to function as intended , or penetration of our systems by outside parties intent on extracting or corrupting information or otherwise disrupting business processes , could place us at a competitive disadvantage , result in a loss of revenue , assets or personal or other sensitive data , litigation and regulatory action , cause damage to our reputation and that of our brands and result in significant remediation and other costs . failure to protect personal data and respect the rights of data subjects could subject us to substantial fines under regulations such as the eu general data protection regulation . 2022 we may be required to replace third-party contract manufacturers or service providers with our own resources . in certain instances , we contract with third parties to manufacture some of our products or product parts or to provide other services . we may be unable to renew these agreements on satisfactory terms for numerous reasons , including government regulations . accordingly , our costs may increase significantly if we must replace such third parties with our own resources . item 1b . unresolved staff comments . item 2 . properties . at december 31 , 2017 , we operated and owned 46 manufacturing facilities and maintained contract manufacturing relationships with 25 third-party manufacturers across 23 markets . in addition , we work with 38 third-party operators in indonesia who manufacture our hand-rolled cigarettes . pmi-owned manufacturing facilities eema asia america canada total .
||eu ( 1 )|eema|asia|latinamerica&canada|total|
|fully integrated|7|8|9|7|31|
|make-pack|3|2014|1|2|6|
|other|3|1|3|2|9|
|total|13|9|13|11|46|
( 1 ) includes facilities that produced heated tobacco units in 2017 . in 2017 , 23 of our facilities each manufactured over 10 billion cigarettes , of which eight facilities each produced over 30 billion units . our largest factories are in karawang and sukorejo ( indonesia ) , izmir ( turkey ) , krakow ( poland ) , st . petersburg and krasnodar ( russia ) , batangas and marikina ( philippines ) , berlin ( germany ) , kharkiv ( ukraine ) , and kutna hora ( czech republic ) . our smallest factories are mostly in latin america and asia , where due to tariff and other constraints we have established small manufacturing units in individual markets . we will continue to optimize our manufacturing base , taking into consideration the evolution of trade blocks . the plants and properties owned or leased and operated by our subsidiaries are maintained in good condition and are believed to be suitable and adequate for our present needs . we are integrating the production of heated tobacco units into a number of our existing manufacturing facilities and progressing with our plans to build manufacturing capacity for our other rrp platforms. .
Question: what portion of total facilities are fully integrated? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
2.80022 | Context:entergy corporation and subsidiaries notes to financial statements this difference as a regulatory asset or liability on an ongoing basis , resulting in a zero net balance for the regulatory asset at the end of the lease term . the amount was a net regulatory liability of $ 61.6 million and $ 27.8 million as of december 31 , 2013 and 2012 , respectively . as of december 31 , 2013 , system energy had future minimum lease payments ( reflecting an implicit rate of 5.13% ( 5.13 % ) ) , which are recorded as long-term debt , as follows : amount ( in thousands ) .
||amount ( in thousands )|
|2014|$ 51637|
|2015|52253|
|2016|13750|
|2017|13750|
|2018|13750|
|years thereafter|247500|
|total|392640|
|less : amount representing interest|295226|
|present value of net minimum lease payments|$ 97414|
.
Question: what is the percent change in future minimum lease payments from 2015 to 2016? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.93069 | Context:the aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2011 , 2010 , and 2009 the table below sets forth the pre-tax accumulated other comprehensive income ( loss ) expected to be recognized as an increase ( decrease ) to income from continuing operations before income taxes over the next twelve months as of december 31 , 2011 for the following types of derivative instruments : accumulated other comprehensive income ( loss ) ( 1 ) ( in millions ) .
||accumulated other comprehensive income ( loss ) ( 1 ) ( in millions )|
|interest rate derivatives|$ -101 ( 101 )|
|cross currency derivatives|$ -1 ( 1 )|
|foreign currency derivatives|$ 7|
|commodity and other derivatives|$ -1 ( 1 )|
( 1 ) excludes a loss of $ 94 million expected to be recognized as part of the sale of cartagena , which closed on february 9 , 2012 , and is further discussed in note 23 2014acquisitions and dispositions . the balance in accumulated other comprehensive loss related to derivative transactions will be reclassified into earnings as interest expense is recognized for interest rate hedges and cross currency swaps ( except for the amount reclassified to foreign currency transaction gains and losses to offset the remeasurement of the foreign currency-denominated debt being hedged by the cross currency swaps ) , as depreciation is recognized for interest rate hedges during construction , as foreign currency transaction gains and losses are recognized for hedges of foreign currency exposure , and as electricity sales and fuel purchases are recognized for hedges of forecasted electricity and fuel transactions . these balances are included in the consolidated statements of cash flows as operating and/or investing activities based on the nature of the underlying transaction . for the years ended december 31 , 2011 , 2010 and 2009 , pre-tax gains ( losses ) of $ 0 million , $ ( 1 ) million , and $ 0 million net of noncontrolling interests , respectively , were reclassified into earnings as a result of the discontinuance of a cash flow hedge because it was probable that the forecasted transaction would not occur by the end of the originally specified time period ( as documented at the inception of the hedging relationship ) or within an additional two-month time period thereafter. .
Question: the loss on the sale of cartagena is what percent of the aoci impact of interest rate derivatives? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
16.4 | Context:46 d e v o n e n e r g y a n n u a l r e p o r t 2 0 0 4 contents of gas produced , transportation availability and costs and demand for the various products derived from oil , natural gas and ngls . substantially all of devon 2019s revenues are attributable to sales , processing and transportation of these three commodities . consequently , our financial results and resources are highly influenced by price volatility . estimates for devon 2019s future production of oil , natural gas and ngls are based on the assumption that market demand and prices will continue at levels that allow for profitable production of these products . there can be no assurance of such stability . most of our canadian production is subject to government royalties that fluctuate with prices . thus , price fluctuations can affect reported production . also , our international production is governed by payout agreements with the governments of the countries in which we operate . if the payout under these agreements is attained earlier than projected , devon 2019s net production and proved reserves in such areas could be reduced . estimates for our future processing and transport of oil , natural gas and ngls are based on the assumption that market demand and prices will continue at levels that allow for profitable processing and transport of these products . there can be no assurance of such stability . the production , transportation , processing and marketing of oil , natural gas and ngls are complex processes which are subject to disruption from many causes . these causes include transportation and processing availability , mechanical failure , human error , meteorological events including , but not limited to , hurricanes , and numerous other factors . the following forward-looking statements were prepared assuming demand , curtailment , producibility and general market conditions for devon 2019s oil , natural gas and ngls during 2005 will be substantially similar to those of 2004 , unless otherwise noted . unless otherwise noted , all of the following dollar amounts are expressed in u.s . dollars . amounts related to canadian operations have been converted to u.s . dollars using a projected average 2005 exchange rate of $ 0.82 u.s . to $ 1.00 canadian . the actual 2005 exchange rate may vary materially from this estimate . such variations could have a material effect on the following estimates . though we have completed several major property acquisitions and dispositions in recent years , these transactions are opportunity driven . thus , the following forward-looking data excludes the financial and operating effects of potential property acquisitions or divestitures , except as discussed in 201cproperty acquisitions and divestitures , 201d during the year 2005 . the timing and ultimate results of such acquisition and divestiture activity is difficult to predict , and may vary materially from that discussed in this report . geographic reporting areas for 2005 the following estimates of production , average price differentials and capital expenditures are provided separately for each of the following geographic areas : 2022 the united states onshore ; 2022 the united states offshore , which encompasses all oil and gas properties in the gulf of mexico ; 2022 canada ; and 2022 international , which encompasses all oil and gas properties that lie outside of the united states and canada . year 2005 potential operating items the estimates related to oil , gas and ngl production , operating costs and dd&a set forth in the following paragraphs are based on estimates for devon 2019s properties other than those that have been designated for possible sale ( see 201cproperty acquisitions and divestitures 201d ) . therefore , the following estimates exclude the results of the potential sale properties for the entire year . oil , gas and ngl production set forth in the following paragraphs are individual estimates of devon 2019s oil , gas and ngl production for 2005 . on a combined basis , devon estimates its 2005 oil , gas and ngl production will total 217 mmboe . of this total , approximately 92% ( 92 % ) is estimated to be produced from reserves classified as 201cproved 201d at december 31 , 2004 . oil production we expect our oil production in 2005 to total 60 mmbbls . of this total , approximately 95% ( 95 % ) is estimated to be produced from reserves classified as 201cproved 201d at december 31 , 2004 . the expected production by area is as follows: .
||( mmbbls )|
|united states onshore|12|
|united states offshore|10|
|canada|12|
|international|26|
oil prices 2013 fixed through various price swaps , devon has fixed the price it will receive in 2005 on a portion of its oil production . the following table includes information on this fixed-price production by area . where necessary , the prices have been adjusted for certain transportation costs that are netted against the prices recorded by devon. .
Question: in 2005 , how much , is us dollars , would $ 20 canadian be? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.03878 | Context:restrictive covenants the terms of the 2017 credit facility and certain of our senior unsecured notes include certain restrictions and covenants which may limit , among other things , our ability to pay dividends , make certain types of investments , incur additional indebtedness , incur liens and enter into negative pledge agreements and dispose of assets , and which require compliance with financial ratios relating to the maximum ratio of total indebtedness to total asset value , a minimum ratio of ebitda to fixed charges , a maximum ratio of secured indebtedness to total asset value and a maximum ratio of unsecured indebtedness to unencumbered asset value . the dividend restriction referred to above provides that , we will not during any time when a default is continuing , make distributions with respect to common stock or other equity interests , except to enable the company to continue to qualify as a reit for federal income tax purposes . as of december a031 , 2017 and 2016 , we were in compliance with all such covenants . junior subordinated deferrable interest debentures in june a02005 , the company and the operating partnership issued $ 100.0 a0million in unsecured trust preferred securities through a newly formed trust , sl a0green capital trust i , or the trust , which is a wholly-owned subsidiary of the operating partnership . the securities mature in 2035 and bear interest at a floating rate of 125 a0basis points over the three-month libor . interest payments may be deferred for a period of up to eight consecutive quarters if the operating partnership exercises its right to defer such payments . the trust preferred securities are redeemable at the option of the operating partnership , in whole or in part , with no prepayment premium . we do not consolidate the trust even though it is a variable interest entity as we are not the primary beneficiary . because the trust is not consolidated , we have recorded the debt on our consolidated balance sheets and the related payments are classified as interest expense . interest rate risk we are exposed to changes in interest rates primarily from our variable rate debt . our exposure to interest rate fluctuations are managed through either the use of interest rate derivative instru- ments and/or through our variable rate debt and preferred equity investments . a hypothetical 100 a0basis point increase in interest rates along the entire interest rate curve for a02017 would increase our consolidated annual interest cost , net of interest income from variable rate debt and preferred equity investments , by $ 2.7 a0mil- lion and would increase our share of joint venture annual interest cost by $ 17.2 a0million . at december a031 , 2017 , 61.5% ( 61.5 % ) of our $ 2.1 a0bil- lion debt and preferred equity portfolio is indexed to libor . we recognize most derivatives on the balance sheet at fair value . derivatives that are not hedges are adjusted to fair value through income . if a derivative is considered a hedge , depending on the nature of the hedge , changes in the fair value of the derivative will either be offset against the change in fair value of the hedged asset , liability , or firm commitment through earnings , or recog- nized in other comprehensive income until the hedged item is recognized in earnings . the ineffective portion of a derivative 2019s change in fair value is immediately recognized in a0earnings . our long-term debt of $ 4.3 a0billion bears interest at fixed rates , and therefore the fair value of these instruments is affected by changes in the market interest rates . our variable rate debt and variable rate joint venture debt as of december a031 , 2017 bore interest based on a spread of libor plus 100 a0basis points to libor plus 415 a0basis points . contractual obligations the combined aggregate principal maturities of mortgages and other loans payable , the 2017 credit facility , senior unsecured notes ( net of discount ) , trust preferred securities , our share of joint venture debt , including as-of-right extension options and put options , estimated interest expense , and our obligations under our capital lease and ground leases , as of december a031 , 2017 are as follows ( in a0thousands ) : .
||2018|2019|2020|2021|2022|thereafter|total|
|property mortgages and other loans|$ 153593|$ 42289|$ 703018|$ 11656|$ 208003|$ 1656623|$ 2775182|
|mra facilities|90809|2014|2014|2014|2014|2014|90809|
|revolving credit facility|2014|2014|2014|2014|2014|40000|40000|
|unsecured term loans|2014|2014|2014|2014|2014|1500000|1500000|
|senior unsecured notes|250000|2014|250000|2014|800000|100000|1400000|
|trust preferred securities|2014|2014|2014|2014|2014|100000|100000|
|capital lease|2387|2411|2620|2794|2794|819894|832900|
|ground leases|31049|31066|31436|31628|29472|703254|857905|
|estimated interest expense|226815|218019|184376|163648|155398|281694|1229950|
|joint venture debt|200250|717682|473809|449740|223330|2119481|4184292|
|total|$ 954903|$ 1011467|$ 1645259|$ 659466|$ 1418997|$ 7320946|$ 13011038|
.
Question: what was the 2019 rate of decrease in estimated interest expense payments? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.01124 | Context:n o t e s t o c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s ( continued ) ace limited and subsidiaries share-based compensation expense for stock options and shares issued under the employee stock purchase plan ( espp ) amounted to $ 24 million ( $ 22 million after tax or $ 0.07 per basic and diluted share ) , $ 23 million ( $ 21 million after tax or $ 0.06 per basic and diluted share ) , and $ 20 million ( $ 18 million after tax or $ 0.05 per basic and diluted share ) for the years ended december 31 , 2008 , 2007 , and 2006 , respectively . for the years ended december 31 , 2008 , 2007 and 2006 , the expense for the restricted stock was $ 101 million ( $ 71 million after tax ) , $ 77 million ( $ 57 million after tax ) , and $ 65 million ( $ 49 million after tax ) , respectively . during 2004 , the company established the ace limited 2004 long-term incentive plan ( the 2004 ltip ) . once the 2004 ltip was approved by shareholders , it became effective february 25 , 2004 . it will continue in effect until terminated by the board . this plan replaced the ace limited 1995 long-term incentive plan , the ace limited 1995 outside directors plan , the ace limited 1998 long-term incentive plan , and the ace limited 1999 replacement long-term incentive plan ( the prior plans ) except as to outstanding awards . during the company 2019s 2008 annual general meeting , shareholders voted to increase the number of common shares authorized to be issued under the 2004 ltip from 15000000 common shares to 19000000 common shares . accordingly , under the 2004 ltip , a total of 19000000 common shares of the company are authorized to be issued pursuant to awards made as stock options , stock appreciation rights , performance shares , performance units , restricted stock , and restricted stock units . the maximum number of shares that may be delivered to participants and their beneficiaries under the 2004 ltip shall be equal to the sum of : ( i ) 19000000 shares ; and ( ii ) any shares that are represented by awards granted under the prior plans that are forfeited , expired , or are canceled after the effective date of the 2004 ltip , without delivery of shares or which result in the forfeiture of the shares back to the company to the extent that such shares would have been added back to the reserve under the terms of the applicable prior plan . as of december 31 , 2008 , a total of 10591090 shares remain available for future issuance under this plan . under the 2004 ltip , 3000000 common shares are authorized to be issued under the espp . as of december 31 , 2008 , a total of 989812 common shares remain available for issuance under the espp . stock options the company 2019s 2004 ltip provides for grants of both incentive and non-qualified stock options principally at an option price per share of 100 percent of the fair value of the company 2019s common shares on the date of grant . stock options are generally granted with a 3-year vesting period and a 10-year term . the stock options vest in equal annual installments over the respective vesting period , which is also the requisite service period . included in the company 2019s share-based compensation expense in the year ended december 31 , 2008 , is the cost related to the unvested portion of the 2005-2008 stock option grants . the fair value of the stock options was estimated on the date of grant using the black-scholes option-pricing model that uses the assumptions noted in the following table . the risk-free inter- est rate is based on the u.s . treasury yield curve in effect at the time of grant . the expected life ( estimated period of time from grant to exercise date ) was estimated using the historical exercise behavior of employees . expected volatility was calculated as a blend of ( a ) historical volatility based on daily closing prices over a period equal to the expected life assumption , ( b ) long- term historical volatility based on daily closing prices over the period from ace 2019s initial public trading date through the most recent quarter , and ( c ) implied volatility derived from ace 2019s publicly traded options . the fair value of the options issued is estimated on the date of grant using the black-scholes option-pricing model , with the following weighted-average assumptions used for grants for the years indicated: .
||2008|2007|2006|
|dividend yield|1.80% ( 1.80 % )|1.78% ( 1.78 % )|1.64% ( 1.64 % )|
|expected volatility|32.20% ( 32.20 % )|27.43% ( 27.43 % )|31.29% ( 31.29 % )|
|risk-free interest rate|3.15% ( 3.15 % )|4.51% ( 4.51 % )|4.60% ( 4.60 % )|
|forfeiture rate|7.5% ( 7.5 % )|7.5% ( 7.5 % )|7.5% ( 7.5 % )|
|expected life|5.7 years|5.6 years|6 years|
.
Question: what is the percentage change in dividend yield from 2007 to 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: |
0.32 | Context:entergy arkansas 2019s receivables from or ( payables to ) the money pool were as follows as of december 31 for each of the following years. .
|2017|2016|2015|2014|
|( in thousands )|( in thousands )|( in thousands )|( in thousands )|
|( $ 166137 )|( $ 51232 )|( $ 52742 )|$ 2218|
see note 4 to the financial statements for a description of the money pool . entergy arkansas has a credit facility in the amount of $ 150 million scheduled to expire in august 2022 . entergy arkansas also has a $ 20 million credit facility scheduled to expire in april 2018 . a0 a0the $ 150 million credit facility permits the issuance of letters of credit against $ 5 million of the borrowing capacity of the facility . as of december 31 , 2017 , there were no cash borrowings and no letters of credit outstanding under the credit facilities . in addition , entergy arkansas is a party to an uncommitted letter of credit facility as a means to post collateral to support its obligations to miso . as of december 31 , 2017 , a $ 1 million letter of credit was outstanding under entergy arkansas 2019s uncommitted letter of credit facility . see note 4 to the financial statements for further discussion of the credit facilities . the entergy arkansas nuclear fuel company variable interest entity has a credit facility in the amount of $ 80 million scheduled to expire in may 2019 . a0 a0as of december 31 , 2017 , $ 50 million in letters of credit to support a like amount of commercial paper issued and $ 24.9 million in loans were outstanding under the entergy arkansas nuclear fuel company variable interest entity credit facility . see note 4 to the financial statements for further discussion of the nuclear fuel company variable interest entity credit facility . entergy arkansas obtained authorizations from the ferc through october 2019 for short-term borrowings not to exceed an aggregate amount of $ 250 million at any time outstanding and borrowings by its nuclear fuel company variable interest entity . see note 4 to the financial statements for further discussion of entergy arkansas 2019s short-term borrowing limits . the long-term securities issuances of entergy arkansas are limited to amounts authorized by the apsc , and the current authorization extends through december 2018 . entergy arkansas , inc . and subsidiaries management 2019s financial discussion and analysis state and local rate regulation and fuel-cost recovery retail rates 2015 base rate filing in april 2015 , entergy arkansas filed with the apsc for a general change in rates , charges , and tariffs . the filing notified the apsc of entergy arkansas 2019s intent to implement a forward test year formula rate plan pursuant to arkansas legislation passed in 2015 , and requested a retail rate increase of $ 268.4 million , with a net increase in revenue of $ 167 million . the filing requested a 10.2% ( 10.2 % ) return on common equity . in september 2015 the apsc staff and intervenors filed direct testimony , with the apsc staff recommending a revenue requirement of $ 217.9 million and a 9.65% ( 9.65 % ) return on common equity . in december 2015 , entergy arkansas , the apsc staff , and certain of the intervenors in the rate case filed with the apsc a joint motion for approval of a settlement of the case that proposed a retail rate increase of approximately $ 225 million with a net increase in revenue of approximately $ 133 million ; an authorized return on common equity of 9.75% ( 9.75 % ) ; and a formula rate plan tariff that provides a +/- 50 basis point band around the 9.75% ( 9.75 % ) allowed return on common equity . a significant portion of the rate increase is related to entergy arkansas 2019s acquisition in march 2016 of union power station power block 2 for a base purchase price of $ 237 million . the settlement agreement also provided for amortization over a 10-year period of $ 7.7 million of previously-incurred costs related to ano post-fukushima compliance and $ 9.9 million of previously-incurred costs related to ano flood barrier compliance . a settlement hearing was held in january 2016 . in february 2016 the apsc approved the settlement with one exception that reduced the retail rate increase proposed in the settlement by $ 5 million . the settling parties agreed to the apsc modifications in february 2016 . the new rates were effective february 24 , 2016 and began billing with the first billing cycle of april 2016 . in march 2016 , entergy arkansas made a compliance filing regarding the .
Question: what percent of the aggregate borrowing capacity is set to expire in 2019? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.03933 | 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: what is the percentage change in aggregate rent expense from 2002 to 2003? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
3421.0 | Context:for the years ended december a031 , 2018 , 2017 and 2016 , the amounts recognized in principal transactions in the consolidated statement of income related to derivatives not designated in a qualifying hedging relationship , as well as the underlying non-derivative instruments , are presented in note a06 to the consolidated financial statements . citigroup presents this disclosure by showing derivative gains and losses related to its trading activities together with gains and losses related to non-derivative instruments within the same trading portfolios , as this represents how these portfolios are risk managed . the amounts recognized in other revenue in the consolidated statement of income related to derivatives not designated in a qualifying hedging relationship are shown below . the table below does not include any offsetting gains ( losses ) on the economically hedged items to the extent that such amounts are also recorded in other revenue . gains ( losses ) included in other revenue year ended december 31 .
|in millions of dollars|gains ( losses ) included inother revenue year ended december 31 , 2018|gains ( losses ) included inother revenue year ended december 31 , 2017|gains ( losses ) included inother revenue year ended december 31 , 2016|
|interest rate contracts|$ -25 ( 25 )|$ -73 ( 73 )|$ 51|
|foreign exchange|-197 ( 197 )|2062|-847 ( 847 )|
|credit derivatives|-155 ( 155 )|-538 ( 538 )|-1174 ( 1174 )|
|total|$ -377 ( 377 )|$ 1451|$ -1970 ( 1970 )|
accounting for derivative hedging citigroup accounts for its hedging activities in accordance with asc 815 , derivatives and hedging . as a general rule , hedge accounting is permitted where the company is exposed to a particular risk , such as interest rate or foreign exchange risk , that causes changes in the fair value of an asset or liability or variability in the expected future cash flows of an existing asset , liability or a forecasted transaction that may affect earnings . derivative contracts hedging the risks associated with changes in fair value are referred to as fair value hedges , while contracts hedging the variability of expected future cash flows are cash flow hedges . hedges that utilize derivatives or debt instruments to manage the foreign exchange risk associated with equity investments in non-u.s.-dollar-functional- currency foreign subsidiaries ( net investment in a foreign operation ) are net investment hedges . to qualify as an accounting hedge under the hedge accounting rules ( versus an economic hedge where hedge accounting is not applied ) , a hedging relationship must be highly effective in offsetting the risk designated as being hedged . the hedging relationship must be formally documented at inception , detailing the particular risk management objective and strategy for the hedge . this includes the item and risk ( s ) being hedged , the hedging instrument being used and how effectiveness will be assessed . the effectiveness of these hedging relationships is evaluated at hedge inception and on an ongoing basis both on a retrospective and prospective basis , typically using quantitative measures of correlation , with hedge ineffectiveness measured and recorded in current earnings . hedge effectiveness assessment methodologies are performed in a similar manner for similar hedges , and are used consistently throughout the hedging relationships . the assessment of effectiveness may exclude changes in the value of the hedged item that are unrelated to the risks being hedged and the changes in fair value of the derivative associated with time value . prior to january 1 , 2018 , these excluded items were recognized in current earnings for the hedging derivative , while changes in the value of a hedged item that were not related to the hedged risk were not recorded . upon adoption of asc 2017-12 , citi excludes changes in the cross currency basis associated with cross currency swaps from the assessment of hedge effectiveness and records it in other comprehensive income . discontinued hedge accounting a hedging instrument must be highly effective in accomplishing the hedge objective of offsetting either changes in the fair value or cash flows of the hedged item for the risk being hedged . management may voluntarily de-designate an accounting hedge at any time , but if a hedging relationship is not highly effective , it no longer qualifies for hedge accounting and must be de-designated . subsequent changes in the fair value of the derivative are recognized in other revenue or principal transactions , similar to trading derivatives , with no offset recorded related to the hedged item . for fair value hedges , any changes in the fair value of the hedged item remain as part of the basis of the asset or liability and are ultimately realized as an element of the yield on the item . for cash flow hedges , changes in fair value of the end-user derivative remain in accumulated other comprehensive income ( loss ) ( aoci ) and are included in the earnings of future periods when the forecasted hedged cash flows impact earnings . however , if it becomes probable that some or all of the hedged forecasted transactions will not occur , any amounts that remain in aoci related to these transactions must be immediately reflected in other revenue . the foregoing criteria are applied on a decentralized basis , consistent with the level at which market risk is managed , but are subject to various limits and controls . the underlying asset , liability or forecasted transaction may be an individual item or a portfolio of similar items. .
Question: what was the change in millions in total gains ( losses ) included in other revenue between the year ended december 31 , 2016 and 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: |
125.10885 | Context:devon energy corporation and subsidiaries notes to consolidated financial statements 2013 ( continued ) proved undeveloped reserves the following table presents the changes in devon 2019s total proved undeveloped reserves during 2014 ( in mmboe ) . .
||u.s .|canada|total|
|proved undeveloped reserves as of december 31 2013|258|443|701|
|extensions and discoveries|153|8|161|
|revisions due to prices|-1 ( 1 )|-34 ( 34 )|-35 ( 35 )|
|revisions other than price|-61 ( 61 )|18|-43 ( 43 )|
|sale of reserves|-4 ( 4 )|-2 ( 2 )|-6 ( 6 )|
|conversion to proved developed reserves|-40 ( 40 )|-49 ( 49 )|-89 ( 89 )|
|proved undeveloped reserves as of december 31 2014|305|384|689|
at december 31 , 2014 , devon had 689 mmboe of proved undeveloped reserves . this represents a 2 percent decrease as compared to 2013 and represents 25 percent of total proved reserves . drilling and development activities increased devon 2019s proved undeveloped reserves 161 mmboe and resulted in the conversion of 89 mmboe , or 13 percent , of the 2013 proved undeveloped reserves to proved developed reserves . costs incurred related to the development and conversion of devon 2019s proved undeveloped reserves were approximately $ 1.0 billion for 2014 . additionally , revisions other than price decreased devon 2019s proved undeveloped reserves 43 mmboe primarily due to evaluations of certain u.s . onshore dry-gas areas , which devon does not expect to develop in the next five years . the largest revisions , which were approximately 69 mmboe , relate to the dry-gas areas in the barnett shale in north texas . a significant amount of devon 2019s proved undeveloped reserves at the end of 2014 related to its jackfish operations . at december 31 , 2014 and 2013 , devon 2019s jackfish proved undeveloped reserves were 384 mmboe and 441 mmboe , respectively . development schedules for the jackfish reserves are primarily controlled by the need to keep the processing plants at their 35000 barrel daily facility capacity . processing plant capacity is controlled by factors such as total steam processing capacity and steam-oil ratios . furthermore , development of these projects involves the up-front construction of steam injection/distribution and bitumen processing facilities . due to the large up-front capital investments and large reserves required to provide economic returns , the project conditions meet the specific circumstances requiring a period greater than 5 years for conversion to developed reserves . as a result , these reserves are classified as proved undeveloped for more than five years . currently , the development schedule for these reserves extends though the year 2031 . price revisions 2014 2013 reserves increased 9 mmboe primarily due to higher gas prices in the barnett shale and the anadarko basin , partially offset by higher bitumen prices , which result in lower after-royalty volumes , in canada . 2013 2013 reserves increased 94 mmboe primarily due to higher gas prices . of this increase , 43 mmboe related to the barnett shale and 19 mmboe related to the rocky mountain area . 2012 2013 reserves decreased 171 mmboe primarily due to lower gas prices . of this decrease , 100 mmboe related to the barnett shale and 25 mmboe related to the rocky mountain area. .
Question: what percentage of total proved undeveloped resources as of dec 31 , 2014 does extensions and discoveries and proved undeveloped resources as of dec 31 , 2013 account for? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-0.0036 | Context:analog devices , inc . notes to consolidated financial statements 2014 ( continued ) depreciation expense for property , plant and equipment was $ 134.5 million , $ 130.1 million and $ 114.1 million in fiscal 2016 , 2015 and 2014 , respectively . the company reviews property , plant and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of assets may not be recoverable . recoverability of these assets is determined by comparison of their carrying amount to the future undiscounted cash flows the assets are expected to generate over their remaining economic lives . if such assets are considered to be impaired , the impairment to be recognized in earnings equals the amount by which the carrying value of the assets exceeds their fair value determined by either a quoted market price , if any , or a value determined by utilizing a discounted cash flow technique . if such assets are not impaired , but their useful lives have decreased , the remaining net book value is depreciated over the revised useful life . we have not recorded any material impairment charges related to our property , plant and equipment in fiscal 2016 , fiscal 2015 or fiscal 2014 . f . goodwill and intangible assets goodwill the company evaluates goodwill for impairment annually , as well as whenever events or changes in circumstances suggest that the carrying value of goodwill may not be recoverable . the company tests goodwill for impairment at the reporting unit level ( operating segment or one level below an operating segment ) on an annual basis on the first day of the fourth quarter ( on or about august 1 ) or more frequently if indicators of impairment exist . for the company 2019s latest annual impairment assessment that occurred as of july 31 , 2016 , the company identified its reporting units to be its seven operating segments . the performance of the test involves a two-step process . the first step of the quantitative impairment test involves comparing the fair values of the applicable reporting units with their aggregate carrying values , including goodwill . the company determines the fair value of its reporting units using a weighting of the income and market approaches . under the income approach , the company uses a discounted cash flow methodology which requires management to make significant estimates and assumptions related to forecasted revenues , gross profit margins , operating income margins , working capital cash flow , perpetual growth rates , and long-term discount rates , among others . for the market approach , the company uses the guideline public company method . under this method the company utilizes information from comparable publicly traded companies with similar operating and investment characteristics as the reporting units , to create valuation multiples that are applied to the operating performance of the reporting unit being tested , in order to obtain their respective fair values . in order to assess the reasonableness of the calculated reporting unit fair values , the company reconciles the aggregate fair values of its reporting units determined , as described above , to its current market capitalization , allowing for a reasonable control premium . if the carrying amount of a reporting unit , calculated using the above approaches , exceeds the reporting unit 2019s fair value , the company performs the second step of the goodwill impairment test to determine the amount of impairment loss . the second step of the goodwill impairment test involves comparing the implied fair value of the affected reporting unit 2019s goodwill with the carrying value of that reporting unit . there was no impairment of goodwill in any of the fiscal years presented . the company 2019s next annual impairment assessment will be performed as of the first day of the fourth quarter of the fiscal year ending october 28 , 2017 ( fiscal 2017 ) unless indicators arise that would require the company to reevaluate at an earlier date . the following table presents the changes in goodwill during fiscal 2016 and fiscal 2015: .
||2016|2015|
|balance at beginning of year|$ 1636526|$ 1642438|
|acquisition of hittite ( note 6 ) ( 1 )|2014|-1105 ( 1105 )|
|goodwill adjustment related to other acquisitions ( 2 )|44046|3663|
|foreign currency translation adjustment|-1456 ( 1456 )|-8470 ( 8470 )|
|balance at end of year|$ 1679116|$ 1636526|
( 1 ) amount in fiscal 2015 represents changes to goodwill as a result of finalizing the acquisition accounting related to the hittite acquisition . ( 2 ) represents goodwill related to other acquisitions that were not material to the company on either an individual or aggregate basis . intangible assets the company reviews finite-lived intangible assets for impairment whenever events or changes in circumstances indicate that the carrying value of assets may not be recoverable . recoverability of these assets is determined by comparison of their carrying value to the estimated future undiscounted cash flows the assets are expected to generate over their remaining .
Question: what is the percentage change in the balance of goodwill 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: |
0.03676 | Context:notes to consolidated financial statements ( continued ) fair value measurements the fasb issued updated authoritative guidance in may 2011 to amend fair value measurements and related disclosures ; the guidance became effective for snap-on at the beginning of its 2012 fiscal year . this guidance relates to a major convergence project of the fasb and the international accounting standards board to improve international financial reporting standards ( 201cifrs 201d ) and u.s . gaap . this guidance resulted in a consistent definition of fair value and common requirements for measurement of and disclosure about fair value between ifrs and u.s . gaap . the guidance also changed some fair value measurement principles and enhanced disclosure requirements related to activities in level 3 of the fair value hierarchy . the adoption of this updated authoritative guidance had no impact on the company 2019s consolidated financial statements . disclosures relating to comprehensive income the fasb issued updated authoritative guidance in june 2011 to amend the presentation of comprehensive income in financial statements . the fasb also issued an accounting standards update in december 2011 that indefinitely deferred certain financial statement presentation provisions contained in its original june 2011 guidance . the guidance , which became effective for snap-on on a retrospective basis at the beginning of its 2012 fiscal year , gives companies the option to present other comprehensive income in either a single continuous statement or in two separate but consecutive statements . under both alternatives , companies are required to annually present each component of comprehensive income . the adoption of this updated authoritative guidance impacted the presentation of the company 2019s consolidated statements of comprehensive income , but it did not change the items that must be reported in other comprehensive income or when an item of other comprehensive income must be reclassified to net income . note 2 : acquisitions snap-on acquired a 60% ( 60 % ) interest in snap-on asia manufacturing ( zhejiang ) co . ltd . ( 201cxiaoshan 201d ) ( formerly known as wanda snap-on ( zhejiang ) co . ltd. ) , the company 2019s tool manufacturing operation in xiaoshan , china , in 2008 . snap-on acquired the remaining 40% ( 40 % ) redeemable noncontrolling interest in xiaoshan in april 2010 for a purchase price of $ 7.7 million and $ 0.1 million of transaction costs . note 3 : receivables trade and other accounts receivable snap-on 2019s trade and other accounts receivable primarily arise from the sale of tools , diagnostics and equipment to a broad range of industrial and commercial customers and to snap-on 2019s independent franchise van channel on a non- extended-term basis with payment terms generally ranging from 30 to 120 days . the components of snap-on 2019s trade and other accounts receivable as of 2012 and 2011 year end are as follows : ( amounts in millions ) 2012 2011 .
|( amounts in millions )|2012|2011|
|trade and other accounts receivable|$ 516.9|$ 485.5|
|allowances for doubtful accounts|-19.0 ( 19.0 )|-22.0 ( 22.0 )|
|total trade and other accounts receivable 2013 net|$ 497.9|$ 463.5|
finance and contract receivables soc originates extended-term finance and contract receivables on sales of snap-on product sold through the u.s . franchisee and customer network and to snap-on 2019s industrial and other customers ; snap-on 2019s foreign finance subsidiaries provide similar financing internationally . interest income on finance and contract receivables is included in 201cfinancial services revenue 201d on the accompanying consolidated statements of earnings . 74 snap-on incorporated .
Question: in 2012 what was the allowance for doubtful accounts | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
154.54545 | Context:humana inc . notes to consolidated financial statements 2014 ( continued ) 15 . stockholders 2019 equity as discussed in note 2 , we elected to early adopt new guidance related to accounting for employee share-based payments prospectively effective january 1 , 2016 . the adoption of this new guidance resulted in the recognition of approximately $ 20 million of tax benefits in net income in our consolidated statement of income for the three months ended march 31 , 2016 that had previously been recorded as additional paid-in capital in our consolidated balance sheet . dividends the following table provides details of dividend payments , excluding dividend equivalent rights , in 2014 , 2015 , and 2016 under our board approved quarterly cash dividend policy : payment amount per share amount ( in millions ) .
|paymentdate|amountper share|totalamount ( in millions )|
|2014|$ 1.10|$ 170|
|2015|$ 1.14|$ 170|
|2016|$ 1.16|$ 172|
under the terms of the merger agreement , we agreed with aetna that our quarterly dividend would not exceed $ 0.29 per share prior to the closing or termination of the merger . on october 26 , 2016 , the board declared a cash dividend of $ 0.29 per share that was paid on january 27 , 2017 to stockholders of record on january 12 , 2017 , for an aggregate amount of $ 43 million . on february 14 , 2017 , following the termination of the merger agreement , the board declared a cash dividend of $ 0.40 per share , to be paid on april 28 , 2017 , to the stockholders of record on march 31 , 2017 . declaration and payment of future quarterly dividends is at the discretion of our board and may be adjusted as business needs or market conditions change . stock repurchases in september 2014 , our board of directors replaced a previous share repurchase authorization of up to $ 1 billion ( of which $ 816 million remained unused ) with an authorization for repurchases of up to $ 2 billion of our common shares exclusive of shares repurchased in connection with employee stock plans , which expired on december 31 , 2016 . under the share repurchase authorization , shares may have been purchased from time to time at prevailing prices in the open market , by block purchases , through plans designed to comply with rule 10b5-1 under the securities exchange act of 1934 , as amended , or in privately-negotiated transactions ( including pursuant to accelerated share repurchase agreements with investment banks ) , subject to certain regulatory restrictions on volume , pricing , and timing . pursuant to the merger agreement , after july 2 , 2015 , we were prohibited from repurchasing any of our outstanding securities without the prior written consent of aetna , other than repurchases of shares of our common stock in connection with the exercise of outstanding stock options or the vesting or settlement of outstanding restricted stock awards . accordingly , as announced on july 3 , 2015 , we suspended our share repurchase program. .
Question: in 2014 what was the number of shares issued a dividend 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: |
45.5 | Context:intangible assets such as patents , customer-related intangible assets and other intangible assets with finite useful lives are amortized on a straight-line basis over their estimated economic lives . the weighted-average useful lives approximate the following: .
|customer relationships|25|years|
|trademarks|25|years|
|completed technology/patents|10|years|
|other|25|years|
recoverability of intangible assets with finite useful lives is assessed in the same manner as property , plant and equipment as described above . income taxes : for purposes of the company 2019s consolidated financial statements for periods prior to the spin-off , income tax expense has been recorded as if the company filed tax returns on a stand-alone basis separate from ingersoll rand . this separate return methodology applies the accounting guidance for income taxes to the stand-alone financial statements as if the company was a stand-alone enterprise for the periods prior to the spin-off . therefore , cash tax payments and items of current and deferred taxes may not be reflective of the company 2019s actual tax balances prior to or subsequent to the spin-off . cash paid for income taxes , net of refunds for the twelve months ended december 31 , 2016 and 2015 was $ 10.4 million and $ 80.6 million , respectively . the 2016 net cash income taxes paid includes a refund of $ 46.2 million received from the canadian tax authorities . the income tax accounts reflected in the consolidated balance sheet as of december 31 , 2016 and 2015 include income taxes payable and deferred taxes allocated to the company at the time of the spin-off . the calculation of the company 2019s income taxes involves considerable judgment and the use of both estimates and allocations . deferred tax assets and liabilities are determined based on temporary differences between financial reporting and tax bases of assets and liabilities , applying enacted tax rates expected to be in effect for the year in which the differences are expected to reverse . the company recognizes future tax benefits , such as net operating losses and tax credits , to the extent that realizing these benefits is considered in its judgment to be more likely than not . the company regularly reviews the recoverability of its deferred tax assets considering its historic profitability , projected future taxable income , timing of the reversals of existing temporary differences and the feasibility of its tax planning strategies . where appropriate , the company records a valuation allowance with respect to a future tax benefit . product warranties : standard product warranty accruals are recorded at the time of sale and are estimated based upon product warranty terms and historical experience . the company assesses the adequacy of its liabilities and will make adjustments as necessary based on known or anticipated warranty claims , or as new information becomes available . revenue recognition : revenue is recognized and earned when all of the following criteria are satisfied : ( a ) persuasive evidence of a sales arrangement exists ; ( b ) the price is fixed or determinable ; ( c ) collectability is reasonably assured ; and ( d ) delivery has occurred or service has been rendered . delivery generally occurs when the title and the risks and rewards of ownership have transferred to the customer . both the persuasive evidence of a sales arrangement and fixed or determinable price criteria are deemed to be satisfied upon receipt of an executed and legally binding sales agreement or contract that clearly defines the terms and conditions of the transaction including the respective obligations of the parties . if the defined terms and conditions allow variability in all or a component of the price , revenue is not recognized until such time that the price becomes fixed or determinable . at the point of sale , the company validates the existence of an enforceable claim that requires payment within a reasonable amount of time and assesses the collectability of that claim . if collectability is not deemed to be reasonably assured , then revenue recognition is deferred until such time that collectability becomes probable or cash is received . delivery is not considered to have occurred until the customer has taken title and assumed the risks and rewards of ownership . service and installation revenue are recognized when earned . in some instances , customer acceptance provisions are included in sales arrangements to give the buyer the ability to ensure the delivered product or service meets the criteria established in the order . in these instances , revenue recognition is deferred until the acceptance terms specified in the arrangement are fulfilled through customer acceptance or a demonstration that established criteria have been satisfied . if uncertainty exists about customer acceptance , revenue is not recognized until acceptance has occurred . the company offers various sales incentive programs to our customers , dealers , and distributors . sales incentive programs do not preclude revenue recognition , but do require an accrual for the company 2019s best estimate of expected activity . examples of the sales incentives that are accrued for as a contra receivable and sales deduction at the point of sale include , but are not limited to , discounts ( i.e . net 30 type ) , coupons , and rebates where the customer does not have to provide any additional requirements to receive the discount . sales returns and customer disputes involving a question of quantity or price are also accounted for as a .
Question: considering the years 2015-2016 , what was the average cash paid for income taxes? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
210000.0 | Context:illumina , inc . notes to consolidated financial statements 2014 ( continued ) advertising costs the company expenses advertising costs as incurred . advertising costs were approximately $ 440000 for 2003 , $ 267000 for 2002 and $ 57000 for 2001 . income taxes a deferred income tax asset or liability is computed for the expected future impact of differences between the financial reporting and tax bases of assets and liabilities , as well as the expected future tax benefit to be derived from tax loss and credit carryforwards . deferred income tax expense is generally the net change during the year in the deferred income tax asset or liability . valuation allowances are established when realizability of deferred tax assets is uncertain . the effect of tax rate changes is reflected in tax expense during the period in which such changes are enacted . foreign currency translation the functional currencies of the company 2019s wholly owned subsidiaries are their respective local currencies . accordingly , all balance sheet accounts of these operations are translated to u.s . dollars using the exchange rates in effect at the balance sheet date , and revenues and expenses are translated using the average exchange rates in effect during the period . the gains and losses from foreign currency translation of these subsidiaries 2019 financial statements are recorded directly as a separate component of stockholders 2019 equity under the caption 2018 2018accumulated other comprehensive income . 2019 2019 stock-based compensation at december 28 , 2003 , the company has three stock-based employee and non-employee director compensation plans , which are described more fully in note 5 . as permitted by sfas no . 123 , accounting for stock-based compensation , the company accounts for common stock options granted , and restricted stock sold , to employees , founders and directors using the intrinsic value method and , thus , recognizes no compensation expense for options granted , or restricted stock sold , with exercise prices equal to or greater than the fair value of the company 2019s common stock on the date of the grant . the company has recorded deferred stock compensation related to certain stock options , and restricted stock , which were granted prior to the company 2019s initial public offering with exercise prices below estimated fair value ( see note 5 ) , which is being amortized on an accelerated amortiza- tion methodology in accordance with financial accounting standards board interpretation number ( 2018 2018fin 2019 2019 ) 28 . pro forma information regarding net loss is required by sfas no . 123 and has been determined as if the company had accounted for its employee stock options and employee stock purchases under the fair value method of that statement . the fair value for these options was estimated at the dates of grant using the fair value option pricing model ( black scholes ) with the following weighted-average assumptions for 2003 , 2002 and 2001 : year ended year ended year ended december 28 , december 29 , december 30 , 2003 2002 2001 weighted average risk-free interest rate******* 3.03% ( 3.03 % ) 3.73% ( 3.73 % ) 4.65% ( 4.65 % ) expected dividend yield********************* 0% ( 0 % ) 0% ( 0 % ) 0% ( 0 % ) weighted average volatility ****************** 103% ( 103 % ) 104% ( 104 % ) 119% ( 119 % ) estimated life ( in years ) ********************** 5 5 5 .
||year ended december 28 2003|year ended december 29 2002|year ended december 30 2001|
|weighted average risk-free interest rate|3.03% ( 3.03 % )|3.73% ( 3.73 % )|4.65% ( 4.65 % )|
|expected dividend yield|0% ( 0 % )|0% ( 0 % )|0% ( 0 % )|
|weighted average volatility|103% ( 103 % )|104% ( 104 % )|119% ( 119 % )|
|estimated life ( in years )|5|5|5|
|weighted average fair value of options granted|$ 3.31|$ 4.39|$ 7.51|
.
Question: what was the change in advertising costs from 2001 to 2002? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
38.0 | Context:concentration of credit risk credit risk represents the accounting loss that would be recognized at the reporting date if counterparties failed to perform as contracted . the company believes the likelihood of incurring material losses due to concentration of credit risk is remote . the principal financial instruments subject to credit risk are as follows : cash and cash equivalents - the company maintains cash deposits with major banks , which from time to time may exceed insured limits . the possibility of loss related to financial condition of major banks has been deemed minimal . additionally , the company 2019s investment policy limits exposure to concentrations of credit risk and changes in market conditions . accounts receivable - a large number of customers in diverse industries and geographies , as well as the practice of establishing reasonable credit lines , limits credit risk . based on historical trends and experiences , the allowance for doubtful accounts is adequate to cover potential credit risk losses . foreign currency and interest rate contracts and derivatives - exposure to credit risk is limited by internal policies and active monitoring of counterparty risks . in addition , the company uses a diversified group of major international banks and financial institutions as counterparties . the company does not anticipate nonperformance by any of these counterparties . cash and cash equivalents cash equivalents include highly-liquid investments with a maturity of three months or less when purchased . accounts receivable and allowance for doubtful accounts accounts receivable are carried at their face amounts less an allowance for doubtful accounts . accounts receivable are recorded at the invoiced amount and generally do not bear interest . the company estimates the balance of allowance for doubtful accounts by analyzing accounts receivable balances by age and applying historical write-off and collection trend rates . the company 2019s estimates include separately providing for customer balances based on specific circumstances and credit conditions , and when it is deemed probable that the balance is uncollectible . account balances are charged off against the allowance when it is determined the receivable will not be recovered . the company 2019s allowance for doubtful accounts balance also includes an allowance for the expected return of products shipped and credits related to pricing or quantities shipped of $ 15 million as of december 31 , 2015 and 2014 and $ 14 million as of december 31 , 2013 . returns and credit activity is recorded directly to sales . the following table summarizes the activity in the allowance for doubtful accounts: .
|( millions )|2015|2014|2013|
|beginning balance|$ 77|$ 81|$ 73|
|bad debt expense|26|23|28|
|write-offs|-22 ( 22 )|-20 ( 20 )|-21 ( 21 )|
|other ( a )|-6 ( 6 )|-7 ( 7 )|1|
|ending balance|$ 75|$ 77|$ 81|
( a ) other amounts are primarily the effects of changes in currency translations and the impact of allowance for returns and credits . inventory valuations inventories are valued at the lower of cost or market . certain u.s . inventory costs are determined on a last-in , first-out ( lifo ) basis . lifo inventories represented 39% ( 39 % ) and 37% ( 37 % ) of consolidated inventories as of december 31 , 2015 and 2014 , respectively . lifo inventories include certain legacy nalco u.s . inventory acquired at fair value as part of the nalco merger . all other inventory costs are determined using either the average cost or first-in , first-out ( fifo ) methods . inventory values at fifo , as shown in note 5 , approximate replacement during the fourth quarter of 2015 , the company improved estimates related to its inventory reserves and product costing , resulting in a net pre-tax charge of approximately $ 6 million . separately , the actions resulted in charge of $ 20.6 million related to inventory reserve calculations , partially offset by a gain of $ 14.5 million related to the capitalization of certain cost components into inventory . both of these items are reflected in note 3. .
Question: what is the average percent of lifo inventories as a percent of consolidated inventories as of december 31 , 2015 and 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: |
0.86705 | Context:net cash flows provided by operating activities of $ 704.4 million for 2016 increased $ 154.7 million from 2015 due primarily to ( 1 ) improved operating performance and ( 2 ) lower supplier payments in 2016 compared to 2015 , partially offset by ( 1 ) the impact of excess tax benefits from stock plans , primarily due to our increased stock price , and ( 2 ) an increase in accounts receivable due to increased sales , primarily in the united states . net cash flows provided by operating activities of $ 549.7 million for 2015 decreased $ 472.6 million from 2014 due primarily to ( 1 ) the $ 750.0 million upfront payment received from medtronic under a litigation settlement agreement , and ( 2 ) a higher bonus payout in 2015 associated with 2014 performance . these decreases were partially offset by ( 1 ) income tax payments of $ 224.5 million made in 2014 related to the medtronic settlement , ( 2 ) improved operating performance in 2015 , and ( 3 ) the $ 50.0 million charitable contribution made in 2014 to the edwards lifesciences foundation . net cash used in investing activities of $ 211.7 million in 2016 consisted primarily of capital expenditures of $ 176.1 million and $ 41.3 million for the acquisition of intangible assets . net cash used in investing activities of $ 316.1 million in 2015 consisted primarily of a $ 320.1 million net payment associated with the acquisition of cardiaq , and capital expenditures of $ 102.7 million , partially offset by net proceeds from investments of $ 119.6 million . net cash used in investing activities of $ 633.0 million in 2014 consisted primarily of net purchases of investments of $ 527.4 million and capital expenditures of $ 82.9 million . net cash used in financing activities of $ 268.5 million in 2016 consisted primarily of purchases of treasury stock of $ 662.3 million , partially offset by ( 1 ) net proceeds from the issuance of debt of $ 222.1 million , ( 2 ) proceeds from stock plans of $ 103.3 million , and ( 3 ) the excess tax benefit from stock plans of $ 64.3 million . net cash used in financing activities of $ 158.6 million in 2015 consisted primarily of purchases of treasury stock of $ 280.1 million , partially offset by ( 1 ) proceeds from stock plans of $ 87.2 million , and ( 2 ) the excess tax benefit from stock plans of $ 41.3 million . net cash used in financing activities of $ 153.0 million in 2014 consisted primarily of purchases of treasury stock of $ 300.9 million , partially offset by ( 1 ) proceeds from stock plans of $ 113.3 million , and ( 2 ) the excess tax benefit from stock plans of $ 49.4 million ( including the realization of previously unrealized excess tax benefits ) . a summary of all of our contractual obligations and commercial commitments as of december 31 , 2016 were as follows ( in millions ) : .
|contractual obligations|payments due by period total|payments due by period less than1 year|payments due by period 1-3years|payments due by period 4-5years|payments due by period after 5years|
|debt|$ 825.0|$ 2014|$ 825.0|$ 2014|$ 2014|
|operating leases|72.6|22.3|24.9|8.8|16.6|
|interest on debt|30.8|16.4|14.4|2014|2014|
|pension obligations ( a )|6.1|6.1|2014|2014|2014|
|capital commitment obligations ( b )|0.6|0.3|0.3|2014|2014|
|purchase and other commitments|16.4|13.7|2.7|2014|2014|
|total contractual cash obligations ( c ) ( d )|$ 951.5|$ 58.8|$ 867.3|$ 8.8|$ 16.6|
( a ) the amount included in 2018 2018less than 1 year 2019 2019 reflects anticipated contributions to our various pension plans . anticipated contributions beyond one year are not determinable . the total accrued benefit liability for our pension plans recognized as of december 31 , 2016 was $ 50.1 million . this amount is impacted .
Question: what percentage of total contractual cash obligations is debt? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
108.1 | Context:notes to consolidated financial statements 2014 ( continued ) fiscal years ended may 27 , 2007 , may 28 , 2006 , and may 29 , 2005 columnar amounts in millions except per share amounts due to the purchase price of the cattle feeding business being entirely financed by the company , the legal divestiture of the cattle feeding operation was not recognized as a divestiture for accounting purposes , and the assets , liabilities and results of operations of the cattle feeding business were reflected in continuing operations in the company 2019s financial statements prior to october 15 , 2004 . on september 24 , 2004 , the company reached an agreement with affiliates of swift foods by which the company took control and ownership of approximately $ 300 million of the net assets of the cattle feeding business , including feedlots and live cattle . on october 15 , 2004 , the company sold the feedlots to smithfield foods for approximately $ 70 million . these transactions resulted in a gain of approximately $ 19 million ( net of taxes of $ 11.6 million ) . the company retained live cattle inventory and related derivative instruments and liquidated those assets in an orderly manner over the succeeding several months . beginning september 24 , 2004 , the assets , liabilities and results of operations , including the gain on sale , of the cattle feeding business are classified as discontinued operations . culturelle business during the first quarter of fiscal 2007 , the company completed its divestiture of its nutritional supplement business for proceeds of approximately $ 8.2 million , resulting in a pre-tax gain of approximately $ 6.2 million ( $ 3.5 million after tax ) . the company reflects this gain within discontinued operations . the results of the aforementioned businesses which have been divested are included within discontinued operations . the summary comparative financial results of discontinued operations were as follows: .
||2007|2006|2005|
|net sales|$ 727.6|$ 2690.0|$ 4131.7|
|long-lived asset impairment charge|-21.1 ( 21.1 )|-240.9 ( 240.9 )|-59.4 ( 59.4 )|
|income from operations of discontinued operations before income taxes|92.5|179.7|157.7|
|net gain from disposal of businesses|64.3|115.5|26.3|
|income before income taxes|135.7|54.3|124.6|
|income tax expense|-54.9 ( 54.9 )|-109.8 ( 109.8 )|-41.8 ( 41.8 )|
|income ( loss ) from discontinued operations net of tax|$ 80.8|$ -55.5 ( 55.5 )|$ 82.8|
the effective tax rate for discontinued operations is significantly higher than the statutory rate due to the nondeductibility of certain goodwill of divested businesses . other assets held for sale during the third quarter of fiscal 2006 , the company initiated a plan to dispose of a refrigerated pizza business with annual revenues of less than $ 70 million . during the second quarter of fiscal 2007 , the company disposed of this business for proceeds of approximately $ 22.0 million , resulting in no significant gain or loss . due to the company 2019s expected significant continuing cash flows associated with this business , the results of operations of this business are included in continuing operations for all periods presented . the assets and liabilities of this business are classified as assets and liabilities held for sale in the consolidated balance sheets for all periods prior to the sale . during the second quarter of fiscal 2007 , the company completed the disposal of an oat milling business for proceeds of approximately $ 35.8 million , after final working capital adjustments made during the third quarter .
Question: for the 3 years ended 2007 income ( loss ) from discontinued operations net of tax totaled? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
77.0 | Context:the goldman sachs group , inc . and subsidiaries notes to consolidated financial statements 2030 purchased interests represent senior and subordinated interests , purchased in connection with secondary market-making activities , in securitization entities in which the firm also holds retained interests . 2030 substantially all of the total outstanding principal amount and total retained interests relate to securitizations during 2014 and thereafter as of december 2018 , and relate to securitizations during 2012 and thereafter as of december 2017 . 2030 the fair value of retained interests was $ 3.28 billion as of december 2018 and $ 2.13 billion as of december 2017 . in addition to the interests in the table above , the firm had other continuing involvement in the form of derivative transactions and commitments with certain nonconsolidated vies . the carrying value of these derivatives and commitments was a net asset of $ 75 million as of december 2018 and $ 86 million as of december 2017 , and the notional amount of these derivatives and commitments was $ 1.09 billion as of december 2018 and $ 1.26 billion as of december 2017 . the notional amounts of these derivatives and commitments are included in maximum exposure to loss in the nonconsolidated vie table in note 12 . the table below presents information about the weighted average key economic assumptions used in measuring the fair value of mortgage-backed retained interests. .
|$ in millions|as of december 2018|as of december 2017|
|fair value of retained interests|$ 3151|$ 2071|
|weighted average life ( years )|7.2|6.0|
|constant prepayment rate|11.9% ( 11.9 % )|9.4% ( 9.4 % )|
|impact of 10% ( 10 % ) adverse change|$ -27 ( 27 )|$ -19 ( 19 )|
|impact of 20% ( 20 % ) adverse change|$ -53 ( 53 )|$ -35 ( 35 )|
|discount rate|4.7% ( 4.7 % )|4.2% ( 4.2 % )|
|impact of 10% ( 10 % ) adverse change|$ -75 ( 75 )|$ -35 ( 35 )|
|impact of 20% ( 20 % ) adverse change|$ -147 ( 147 )|$ -70 ( 70 )|
in the table above : 2030 amounts do not reflect the benefit of other financial instruments that are held to mitigate risks inherent in these retained interests . 2030 changes in fair value based on an adverse variation in assumptions generally cannot be extrapolated because the relationship of the change in assumptions to the change in fair value is not usually linear . 2030 the impact of a change in a particular assumption is calculated independently of changes in any other assumption . in practice , simultaneous changes in assumptions might magnify or counteract the sensitivities disclosed above . 2030 the constant prepayment rate is included only for positions for which it is a key assumption in the determination of fair value . 2030 the discount rate for retained interests that relate to u.s . government agency-issued collateralized mortgage obligations does not include any credit loss . expected credit loss assumptions are reflected in the discount rate for the remainder of retained interests . the firm has other retained interests not reflected in the table above with a fair value of $ 133 million and a weighted average life of 4.2 years as of december 2018 , and a fair value of $ 56 million and a weighted average life of 4.5 years as of december 2017 . due to the nature and fair value of certain of these retained interests , the weighted average assumptions for constant prepayment and discount rates and the related sensitivity to adverse changes are not meaningful as of both december 2018 and december 2017 . the firm 2019s maximum exposure to adverse changes in the value of these interests is the carrying value of $ 133 million as of december 2018 and $ 56 million as of december 2017 . note 12 . variable interest entities a variable interest in a vie is an investment ( e.g. , debt or equity ) or other interest ( e.g. , derivatives or loans and lending commitments ) that will absorb portions of the vie 2019s expected losses and/or receive portions of the vie 2019s expected residual returns . the firm 2019s variable interests in vies include senior and subordinated debt ; loans and lending commitments ; limited and general partnership interests ; preferred and common equity ; derivatives that may include foreign currency , equity and/or credit risk ; guarantees ; and certain of the fees the firm receives from investment funds . certain interest rate , foreign currency and credit derivatives the firm enters into with vies are not variable interests because they create , rather than absorb , risk . vies generally finance the purchase of assets by issuing debt and equity securities that are either collateralized by or indexed to the assets held by the vie . the debt and equity securities issued by a vie may include tranches of varying levels of subordination . the firm 2019s involvement with vies includes securitization of financial assets , as described in note 11 , and investments in and loans to other types of vies , as described below . see note 11 for further information about securitization activities , including the definition of beneficial interests . see note 3 for the firm 2019s consolidation policies , including the definition of a vie . goldman sachs 2018 form 10-k 149 .
Question: what is the net change in the other retained interests not reflected in the table during 2018 , 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: |
0.11509 | Context:on the credit rating of the company and a $ 200 million term loan with an interest rate of libor plus a margin of 175 basis points , both with maturity dates in 2017 . the proceeds from these borrowings were used , along with available cash , to fund the acquisition of temple- inland . during 2012 , international paper fully repaid the $ 1.2 billion term loan . international paper utilizes interest rate swaps to change the mix of fixed and variable rate debt and manage interest expense . at december 31 , 2012 , international paper had interest rate swaps with a total notional amount of $ 150 million and maturities in 2013 ( see note 14 derivatives and hedging activities on pages 70 through 74 of item 8 . financial statements and supplementary data ) . during 2012 , existing swaps and the amortization of deferred gains on previously terminated swaps decreased the weighted average cost of debt from 6.8% ( 6.8 % ) to an effective rate of 6.6% ( 6.6 % ) . the inclusion of the offsetting interest income from short- term investments reduced this effective rate to 6.2% ( 6.2 % ) . other financing activities during 2012 included the issuance of approximately 1.9 million shares of treasury stock , net of restricted stock withholding , and 1.0 million shares of common stock for various incentive plans , including stock options exercises that generated approximately $ 108 million of cash . payment of restricted stock withholding taxes totaled $ 35 million . off-balance sheet variable interest entities information concerning off-balance sheet variable interest entities is set forth in note 12 variable interest entities and preferred securities of subsidiaries on pages 67 through 69 of item 8 . financial statements and supplementary data for discussion . liquidity and capital resources outlook for 2015 capital expenditures and long-term debt international paper expects to be able to meet projected capital expenditures , service existing debt and meet working capital and dividend requirements during 2015 through current cash balances and cash from operations . additionally , the company has existing credit facilities totaling $ 2.0 billion of which nothing has been used . the company was in compliance with all its debt covenants at december 31 , 2014 . the company 2019s financial covenants require the maintenance of a minimum net worth of $ 9 billion and a total debt-to- capital ratio of less than 60% ( 60 % ) . net worth is defined as the sum of common stock , paid-in capital and retained earnings , less treasury stock plus any cumulative goodwill impairment charges . the calculation also excludes accumulated other comprehensive income/ loss and nonrecourse financial liabilities of special purpose entities . the total debt-to-capital ratio is defined as total debt divided by the sum of total debt plus net worth . at december 31 , 2014 , international paper 2019s net worth was $ 14.0 billion , and the total-debt- to-capital ratio was 40% ( 40 % ) . the company will continue to rely upon debt and capital markets for the majority of any necessary long-term funding not provided by operating cash flows . funding decisions will be guided by our capital structure planning objectives . the primary goals of the company 2019s capital structure planning are to maximize financial flexibility and preserve liquidity while reducing interest expense . the majority of international paper 2019s debt is accessed through global public capital markets where we have a wide base of investors . maintaining an investment grade credit rating is an important element of international paper 2019s financing strategy . at december 31 , 2014 , the company held long-term credit ratings of bbb ( stable outlook ) and baa2 ( stable outlook ) by s&p and moody 2019s , respectively . contractual obligations for future payments under existing debt and lease commitments and purchase obligations at december 31 , 2014 , were as follows: .
|in millions|2015|2016|2017|2018|2019|thereafter|
|maturities of long-term debt ( a )|$ 742|$ 543|$ 71|$ 1229|$ 605|$ 6184|
|debt obligations with right of offset ( b )|2014|5202|2014|2014|2014|2014|
|lease obligations|142|106|84|63|45|91|
|purchase obligations ( c )|3266|761|583|463|422|1690|
|total ( d )|$ 4150|$ 6612|$ 738|$ 1755|$ 1072|$ 7965|
( a ) total debt includes scheduled principal payments only . ( b ) represents debt obligations borrowed from non-consolidated variable interest entities for which international paper has , and intends to effect , a legal right to offset these obligations with investments held in the entities . accordingly , in its consolidated balance sheet at december 31 , 2014 , international paper has offset approximately $ 5.2 billion of interests in the entities against this $ 5.3 billion of debt obligations held by the entities ( see note 12 variable interest entities and preferred securities of subsidiaries on pages 67 through 69 in item 8 . financial statements and supplementary data ) . ( c ) includes $ 2.3 billion relating to fiber supply agreements entered into at the time of the 2006 transformation plan forestland sales and in conjunction with the 2008 acquisition of weyerhaeuser company 2019s containerboard , packaging and recycling business . ( d ) not included in the above table due to the uncertainty as to the amount and timing of the payment are unrecognized tax benefits of approximately $ 119 million . as discussed in note 12 variable interest entities and preferred securities of subsidiaries on pages 67 through 69 in item 8 . financial statements and supplementary data , in connection with the 2006 international paper installment sale of forestlands , we received $ 4.8 billion of installment notes ( or timber notes ) , which we contributed to certain non- consolidated borrower entities . the installment notes mature in august 2016 ( unless extended ) . the deferred .
Question: what percentage of contractual obligations for future payments under existing debt and lease commitments and purchase obligations at december 31 , 2014 due in 2016 are purchase obligations? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.08956 | Context:table of contents the notional amounts for outstanding derivative instruments provide one measure of the transaction volume outstanding and do not represent the amount of the company 2019s exposure to credit or market loss . the credit risk amounts represent the company 2019s gross exposure to potential accounting loss on derivative instruments that are outstanding or unsettled if all counterparties failed to perform according to the terms of the contract , based on then-current currency or interest rates at each respective date . the company 2019s exposure to credit loss and market risk will vary over time as currency and interest rates change . although the table above reflects the notional and credit risk amounts of the company 2019s derivative instruments , it does not reflect the gains or losses associated with the exposures and transactions that the instruments are intended to hedge . the amounts ultimately realized upon settlement of these financial instruments , together with the gains and losses on the underlying exposures , will depend on actual market conditions during the remaining life of the instruments . the company generally enters into master netting arrangements , which are designed to reduce credit risk by permitting net settlement of transactions with the same counterparty . to further limit credit risk , the company generally enters into collateral security arrangements that provide for collateral to be received or posted when the net fair value of certain financial instruments fluctuates from contractually established thresholds . the company presents its derivative assets and derivative liabilities at their gross fair values in its consolidated balance sheets . the net cash collateral received by the company related to derivative instruments under its collateral security arrangements was $ 1.0 billion as of september 26 , 2015 and $ 2.1 billion as of september 27 , 2014 . under master netting arrangements with the respective counterparties to the company 2019s derivative contracts , the company is allowed to net settle transactions with a single net amount payable by one party to the other . as of september 26 , 2015 and september 27 , 2014 , the potential effects of these rights of set-off associated with the company 2019s derivative contracts , including the effects of collateral , would be a reduction to both derivative assets and derivative liabilities of $ 2.2 billion and $ 1.6 billion , respectively , resulting in net derivative liabilities of $ 78 million and $ 549 million , respectively . accounts receivable receivables the company has considerable trade receivables outstanding with its third-party cellular network carriers , wholesalers , retailers , value-added resellers , small and mid-sized businesses and education , enterprise and government customers . the company generally does not require collateral from its customers ; however , the company will require collateral in certain instances to limit credit risk . in addition , when possible , the company attempts to limit credit risk on trade receivables with credit insurance for certain customers or by requiring third-party financing , loans or leases to support credit exposure . these credit-financing arrangements are directly between the third-party financing company and the end customer . as such , the company generally does not assume any recourse or credit risk sharing related to any of these arrangements . as of september 26 , 2015 , the company had one customer that represented 10% ( 10 % ) or more of total trade receivables , which accounted for 12% ( 12 % ) . as of september 27 , 2014 , the company had two customers that represented 10% ( 10 % ) or more of total trade receivables , one of which accounted for 16% ( 16 % ) and the other 13% ( 13 % ) . the company 2019s cellular network carriers accounted for 71% ( 71 % ) and 72% ( 72 % ) of trade receivables as of september 26 , 2015 and september 27 , 2014 , respectively . vendor non-trade receivables the company has non-trade receivables from certain of its manufacturing vendors resulting from the sale of components to these vendors who manufacture sub-assemblies or assemble final products for the company . the company purchases these components directly from suppliers . vendor non-trade receivables from three of the company 2019s vendors accounted for 38% ( 38 % ) , 18% ( 18 % ) and 14% ( 14 % ) of total vendor non-trade receivables as of september 26 , 2015 and three of the company 2019s vendors accounted for 51% ( 51 % ) , 16% ( 16 % ) and 14% ( 14 % ) of total vendor non-trade receivables as of september 27 , 2014 . note 3 2013 consolidated financial statement details the following tables show the company 2019s consolidated financial statement details as of september 26 , 2015 and september 27 , 2014 ( in millions ) : property , plant and equipment , net .
||2015|2014|
|land and buildings|$ 6956|$ 4863|
|machinery equipment and internal-use software|37038|29639|
|leasehold improvements|5263|4513|
|gross property plant and equipment|49257|39015|
|accumulated depreciation and amortization|-26786 ( 26786 )|-18391 ( 18391 )|
|total property plant and equipment net|$ 22471|$ 20624|
apple inc . | 2015 form 10-k | 53 .
Question: what is the percentage change in total property plant and equipment net 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: |
3376.0 | Context:undistributed earnings of $ 696.9 million from certain foreign subsidiaries are considered to be permanently reinvested abroad and will not be repatriated to the united states in the foreseeable future . because those earnings are considered to be indefinitely reinvested , no domestic federal or state deferred income taxes have been provided thereon . if we were to make a distribution of any portion of those earnings in the form of dividends or otherwise , we would be subject to both u.s . income taxes ( subject to an adjustment for foreign tax credits ) and withholding taxes payable to the various foreign jurisdictions . because of the availability of u.s . foreign tax credit carryforwards , it is not practicable to determine the domestic federal income tax liability that would be payable if such earnings were no longer considered to be reinvested indefinitely . a valuation allowance is provided against deferred tax assets when it is more likely than not that some portion or all of the deferred tax assets will not be realized . changes to our valuation allowance during the years ended may 31 , 2015 and 2014 are summarized below ( in thousands ) : .
|balance at may 31 2013|$ -28464 ( 28464 )|
|utilization of foreign net operating loss carryforwards|2822|
|allowance for foreign tax credit carryforward|18061|
|other|382|
|balance at may 31 2014|-7199 ( 7199 )|
|utilization of foreign net operating loss carryforwards|3387|
|other|-11 ( 11 )|
|balance at may 31 2015|$ -3823 ( 3823 )|
net operating loss carryforwards of foreign subsidiaries totaling $ 12.4 million and u.s . net operating loss carryforwards previously acquired totaling $ 19.8 million at may 31 , 2015 will expire between may 31 , 2017 and may 31 , 2033 if not utilized . capital loss carryforwards of u.s . subsidiaries totaling $ 4.7 million will expire if not utilized by may 31 , 2017 . tax credit carryforwards totaling $ 8.4 million at may 31 , 2015 will expire between may 31 , 2017 and may 31 , 2023 if not utilized . we conduct business globally and file income tax returns in the u.s . federal jurisdiction and various state and foreign jurisdictions . in the normal course of business , we are subject to examination by taxing authorities around the world . as a result of events that occurred in the fourth quarter of the year ended may 31 , 2015 , management concluded that it was more likely than not that the tax positions in a foreign jurisdiction , for which we had recorded estimated liabilities of $ 65.6 million in other noncurrent liabilities on our consolidated balance sheet , would be sustained on their technical merits based on information available as of may 31 , 2015 . therefore , the liability and corresponding deferred tax assets were eliminated as of may 31 , 2015 . the uncertain tax positions have been subject to an ongoing examination in that foreign jurisdiction by the tax authority . discussions and correspondence between the tax authority and us during the fourth quarter indicated that the likelihood of the positions being sustained had increased . subsequent to may 31 , 2015 , we received a final closure notice regarding the examination resulting in no adjustments to taxable income related to this matter for the tax returns filed for the periods ended may 31 , 2010 through may 31 , 2013 . the unrecognized tax benefits were effectively settled with this final closure notice . we are no longer subjected to state income tax examinations for years ended on or before may 31 , 2008 , u.s . federal income tax examinations for fiscal years prior to 2012 and united kingdom federal income tax examinations for years ended on or before may 31 , 2013 . 78 2013 global payments inc . | 2015 form 10-k annual report .
Question: what is the net change in the balance of valuation allowance during 2015? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
1.94 | Context:table of contents company stock performance the following graph shows a comparison of cumulative total shareholder return , calculated on a dividend reinvested basis , for the company , the s&p 500 index , the s&p information technology index and the dow jones u.s . technology supersector index for the five years ended september 26 , 2015 . the graph assumes $ 100 was invested in each of the company 2019s common stock , the s&p 500 index , the s&p information technology index and the dow jones u.s . technology supersector index as of the market close on september 24 , 2010 . note that historic stock price performance is not necessarily indicative of future stock price performance . * $ 100 invested on 9/25/10 in stock or index , including reinvestment of dividends . data points are the last day of each fiscal year for the company 2019scommon stock and september 30th for indexes . copyright a9 2015 s&p , a division of mcgraw hill financial . all rights reserved . copyright a9 2015 dow jones & co . all rights reserved . september september september september september september .
||september 2010|september 2011|september 2012|september 2013|september 2014|september 2015|
|apple inc .|$ 100|$ 138|$ 229|$ 170|$ 254|$ 294|
|s&p 500 index|$ 100|$ 101|$ 132|$ 157|$ 188|$ 187|
|s&p information technology index|$ 100|$ 104|$ 137|$ 147|$ 190|$ 194|
|dow jones u.s . technology supersector index|$ 100|$ 103|$ 134|$ 141|$ 183|$ 183|
apple inc . | 2015 form 10-k | 21 .
Question: what was the percentage cumulative total shareholder return for the five years ended 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: |
-15.7 | Context:entergy new orleans , inc . and subsidiaries management 2019s financial discussion and analysis results of operations net income 2016 compared to 2015 net income increased $ 3.9 million primarily due to higher net revenue , partially offset by higher depreciation and amortization expenses , higher interest expense , and lower other income . 2015 compared to 2014 net income increased $ 13.9 million primarily due to lower other operation and maintenance expenses and higher net revenue , partially offset by a higher effective income tax rate . net revenue 2016 compared to 2015 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges . following is an analysis of the change in net revenue comparing 2016 to 2015 . amount ( in millions ) .
||amount ( in millions )|
|2015 net revenue|$ 293.9|
|retail electric price|39.0|
|net gas revenue|-2.5 ( 2.5 )|
|volume/weather|-5.1 ( 5.1 )|
|other|-8.1 ( 8.1 )|
|2016 net revenue|$ 317.2|
the retail electric price variance is primarily due to an increase in the purchased power and capacity acquisition cost recovery rider , as approved by the city council , effective with the first billing cycle of march 2016 , primarily related to the purchase of power block 1 of the union power station . see note 14 to the financial statements for discussion of the union power station purchase . the net gas revenue variance is primarily due to the effect of less favorable weather on residential and commercial sales . the volume/weather variance is primarily due to a decrease of 112 gwh , or 2% ( 2 % ) , in billed electricity usage , partially offset by the effect of favorable weather on commercial sales and a 2% ( 2 % ) increase in the average number of electric customers. .
Question: what was the combined impact in millions on 2016 net revenue from the net gas revenue adjustment , the volume/weather adjustment , and other adjustments? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.07059 | Context:on may 20 , 2015 , aon plc issued $ 600 million of 4.750% ( 4.750 % ) senior notes due may 2045 . the 4.750% ( 4.750 % ) notes due may 2045 are fully and unconditionally guaranteed by aon corporation . we used the proceeds of the issuance for general corporate purposes . on september 30 , 2015 , $ 600 million of 3.50% ( 3.50 % ) senior notes issued by aon corporation matured and were repaid . on november 13 , 2015 , aon plc issued $ 400 million of 2.80% ( 2.80 % ) senior notes due march 2021 . the 2.80% ( 2.80 % ) notes due march 2021 are fully and unconditionally guaranteed by aon corporation . we used the proceeds of the issuance for general corporate purposes . credit facilities as of december 31 , 2015 , we had two committed credit facilities outstanding : our $ 400 million u.s . credit facility expiring in march 2017 ( the "2017 facility" ) and $ 900 million multi-currency u.s . credit facility expiring in february 2020 ( the "2020 facility" ) . the 2020 facility was entered into on february 2 , 2015 and replaced the previous 20ac650 million european credit facility . each of these facilities is intended to support our commercial paper obligations and our general working capital needs . in addition , each of these facilities includes customary representations , warranties and covenants , including financial covenants that require us to maintain specified ratios of adjusted consolidated ebitda to consolidated interest expense and consolidated debt to adjusted consolidated ebitda , tested quarterly . at december 31 , 2015 , we did not have borrowings under either the 2017 facility or the 2020 facility , and we were in compliance with the financial covenants and all other covenants contained therein during the twelve months ended december 31 , 2015 . effective february 2 , 2016 , the 2020 facility terms were extended for 1 year and will expire in february 2021 our total debt-to-ebitda ratio at december 31 , 2015 and 2014 , is calculated as follows: .
|years ended december 31,|2015|2014|
|net income|1422|1431|
|interest expense|273|255|
|income taxes|267|334|
|depreciation of fixed assets|229|242|
|amortization of intangible assets|314|352|
|total ebitda|2505|2614|
|total debt|5737|5582|
|total debt-to-ebitda ratio|2.3|2.1|
we use ebitda , as defined by our financial covenants , as a non-gaap measure . this supplemental information related to ebitda represents a measure not in accordance with u.s . gaap and should be viewed in addition to , not instead of , our consolidated financial statements and notes thereto . shelf registration statement on september 3 , 2015 , we filed a shelf registration statement with the sec , registering the offer and sale from time to time of an indeterminate amount of , among other securities , debt securities , preference shares , class a ordinary shares and convertible securities . our ability to access the market as a source of liquidity is dependent on investor demand , market conditions and other factors. .
Question: what was the percent of the change in the interest expense 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: |
3919.33333 | Context:the following table summarizes the changes in the company 2019s valuation allowance: .
|balance at january 1 2011|$ 23788|
|increases in current period tax positions|1525|
|decreases in current period tax positions|-3734 ( 3734 )|
|balance at december 31 2011|$ 21579|
|increases in current period tax positions|0|
|decreases in current period tax positions|-2059 ( 2059 )|
|balance at december 31 2012|$ 19520|
|increases in current period tax positions|0|
|decreases in current period tax positions|-5965 ( 5965 )|
|balance at december 31 2013|$ 13555|
included in 2013 is a discrete tax benefit totaling $ 2979 associated with an entity re-organization within the company 2019s market-based segment that allowed for the utilization of state net operating loss carryforwards and the release of an associated valuation allowance . note 14 : employee benefits pension and other postretirement benefits the company maintains noncontributory defined benefit pension plans covering eligible employees of its regulated utility and shared services operations . benefits under the plans are based on the employee 2019s years of service and compensation . the pension plans have been closed for all employees . the pension plans were closed for most employees hired on or after january 1 , 2006 . union employees hired on or after january 1 , 2001 had their accrued benefit frozen and will be able to receive this benefit as a lump sum upon termination or retirement . union employees hired on or after january 1 , 2001 and non-union employees hired on or after january 1 , 2006 are provided with a 5.25% ( 5.25 % ) of base pay defined contribution plan . the company does not participate in a multiemployer plan . the company 2019s pension funding practice is to contribute at least the greater of the minimum amount required by the employee retirement income security act of 1974 or the normal cost . further , the company will consider additional contributions if needed to avoid 201cat risk 201d status and benefit restrictions under the pension protection act of 2006 . the company may also consider increased contributions , based on other financial requirements and the plans 2019 funded position . pension plan assets are invested in a number of actively managed and indexed investments including equity and bond mutual funds , fixed income securities , guaranteed interest contracts with insurance companies and real estate investment trusts ( 201creits 201d ) . pension expense in excess of the amount contributed to the pension plans is deferred by certain regulated subsidiaries pending future recovery in rates charged for utility services as contributions are made to the plans . ( see note 6 ) the company also has unfunded noncontributory supplemental non-qualified pension plans that provide additional retirement benefits to certain employees . the company maintains other postretirement benefit plans providing varying levels of medical and life insurance to eligible retirees . the retiree welfare plans are closed for union employees hired on or after january 1 , 2006 . the plans had previously closed for non-union employees hired on or after january 1 , 2002 . the company 2019s policy is to fund other postretirement benefit costs for rate-making purposes . assets of the plans are invested in equity mutual funds , bond mutual funds and fixed income securities. .
Question: what was the average decrease in the tax position from 2011 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: |
0.34884 | Context:item 2 . properties as of december 31 , 2014 , we owned or leased 129 major manufacturing sites and 15 major technical centers in 33 countries . a manufacturing site may include multiple plants and may be wholly or partially owned or leased . we also have many smaller manufacturing sites , sales offices , warehouses , engineering centers , joint ventures and other investments strategically located throughout the world . the following table shows the regional distribution of our major manufacturing sites by the operating segment that uses such facilities : north america europe , middle east & africa asia pacific south america total .
||north america|europemiddle east& africa|asia pacific|south america|total|
|electrical/electronic architecture|29|23|20|7|79|
|powertrain systems|4|10|6|2|22|
|electronics and safety|3|9|3|1|16|
|thermal systems|3|3|5|1|12|
|total|39|45|34|11|129|
in addition to these manufacturing sites , we had 15 major technical centers : five in north america ; five in europe , middle east and africa ; four in asia pacific ; and one in south america . of our 129 major manufacturing sites and 15 major technical centers , which include facilities owned or leased by our consolidated subsidiaries , 83 are primarily owned and 61 are primarily leased . we frequently review our real estate portfolio and develop footprint strategies to support our customers 2019 global plans , while at the same time supporting our technical needs and controlling operating expenses . we believe our evolving portfolio will meet current and anticipated future needs . item 3 . legal proceedings we are from time to time subject to various actions , claims , suits , government investigations , and other proceedings incidental to our business , including those arising out of alleged defects , breach of contracts , competition and antitrust matters , product warranties , intellectual property matters , personal injury claims and employment-related matters . it is our opinion that the outcome of such matters will not have a material adverse impact on our consolidated financial position , results of operations , or cash flows . with respect to warranty matters , although we cannot ensure that the future costs of warranty claims by customers will not be material , we believe our established reserves are adequate to cover potential warranty settlements . however , the final amounts required to resolve these matters could differ materially from our recorded estimates . gm ignition switch recall in the first quarter of 2014 , gm , delphi 2019s largest customer , initiated a product recall related to ignition switches . delphi has received requests for information from , and is cooperating with , various government agencies related to this ignition switch recall . in addition , delphi has been named as a co-defendant along with gm ( and in certain cases other parties ) in product liability and class action lawsuits related to this matter . during the second quarter of 2014 , all of the class action cases were transferred to the united states district court for the southern district of new york ( the 201cdistrict court 201d ) for coordinated pretrial proceedings . two consolidated amended class action complaints were filed in the district court on october 14 , 2014 . delphi was not named as a defendant in either complaint . delphi believes the allegations contained in the product liability cases are without merit , and intends to vigorously defend against them . although no assurances can be made as to the ultimate outcome of these or any other future claims , delphi does not believe a loss is probable and , accordingly , no reserve has been made as of december 31 , 2014 . unsecured creditors litigation under the terms of the fourth amended and restated limited liability partnership agreement of delphi automotive llp ( the 201cfourth llp agreement 201d ) , if cumulative distributions to the members of delphi automotive llp under certain provisions of the fourth llp agreement exceed $ 7.2 billion , delphi , as disbursing agent on behalf of dphh , is required to pay to the holders of allowed general unsecured claims against old delphi , $ 32.50 for every $ 67.50 in excess of $ 7.2 billion distributed to the members , up to a maximum amount of $ 300 million . in december 2014 , a complaint was filed in the bankruptcy court alleging that the redemption by delphi automotive llp of the membership interests of gm and the pbgc , and the repurchase of shares and payment of dividends by delphi automotive plc , constituted distributions under the terms of the fourth llp agreement approximating $ 7.2 billion . delphi considers cumulative distributions through december 31 , 2014 to be substantially below the $ 7.2 billion threshold , and intends to vigorously contest the allegations set forth in the complaint . accordingly , no accrual for this matter has been recorded as of december 31 , 2014. .
Question: what percentage of major manufacturing sites are in europe middle east& africa? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.03458 | Context:continued investments in ecommerce and technology . the increase in operating expenses as a percentage of net sales for fiscal 2017 was partially offset by the impact of store closures in the fourth quarter of fiscal 2016 . membership and other income was relatively flat for fiscal 2018 and increased $ 1.0 billion a0for fiscal 2017 , when compared to the same period in the previous fiscal year . while fiscal 2018 included a $ 387 million gain from the sale of suburbia , a $ 47 million gain from a land sale , higher recycling income from our sustainability efforts and higher membership income from increased plus member penetration at sam's club , these gains were less than gains recognized in fiscal 2017 . fiscal 2017 included a $ 535 million gain from the sale of our yihaodian business and a $ 194 million gain from the sale of shopping malls in chile . for fiscal 2018 , loss on extinguishment of debt was a0$ 3.1 billion , due to the early extinguishment of long-term debt which allowed us to retire higher rate debt to reduce interest expense in future periods . our effective income tax rate was 30.4% ( 30.4 % ) for fiscal 2018 and 30.3% ( 30.3 % ) for both fiscal 2017 and 2016 . although relatively consistent year-over-year , our effective income tax rate may fluctuate from period to period as a result of factors including changes in our assessment of certain tax contingencies , valuation allowances , changes in tax laws , outcomes of administrative audits , the impact of discrete items and the mix of earnings among our u.s . operations and international operations . the reconciliation from the u.s . statutory rate to the effective income tax rates for fiscal 2018 , 2017 and 2016 is presented in note 9 in the "notes to consolidated financial statements" and describes the impact of the enactment of the tax cuts and jobs act of 2017 ( the "tax act" ) to the fiscal 2018 effective income tax rate . as a result of the factors discussed above , we reported $ 10.5 billion and $ 14.3 billion of consolidated net income for fiscal 2018 and 2017 , respectively , which represents a decrease of $ 3.8 billion and $ 0.8 billion for fiscal 2018 and 2017 , respectively , when compared to the previous fiscal year . diluted net income per common share attributable to walmart ( "eps" ) was $ 3.28 and $ 4.38 for fiscal 2018 and 2017 , respectively . walmart u.s . segment .
|( amounts in millions except unit counts )|fiscal years ended january 31 , 2018|fiscal years ended january 31 , 2017|fiscal years ended january 31 , 2016|
|net sales|$ 318477|$ 307833|$ 298378|
|percentage change from comparable period|3.5% ( 3.5 % )|3.2% ( 3.2 % )|3.6% ( 3.6 % )|
|calendar comparable sales increase|2.1% ( 2.1 % )|1.6% ( 1.6 % )|1.0% ( 1.0 % )|
|operating income|$ 17869|$ 17745|$ 19087|
|operating income as a percentage of net sales|5.6% ( 5.6 % )|5.8% ( 5.8 % )|6.4% ( 6.4 % )|
|unit counts at period end|4761|4672|4574|
|retail square feet at period end|705|699|690|
net sales for the walmart u.s . segment increased $ 10.6 billion or 3.5% ( 3.5 % ) and $ 9.5 billion or 3.2% ( 3.2 % ) for fiscal 2018 and 2017 , respectively , when compared to the previous fiscal year . the increases in net sales were primarily due to increases in comparable store sales of 2.1% ( 2.1 % ) and 1.6% ( 1.6 % ) for fiscal 2018 and 2017 , respectively , and year-over-year growth in retail square feet of 0.7% ( 0.7 % ) and 1.4% ( 1.4 % ) for fiscal 2018 and 2017 , respectively . additionally , for fiscal 2018 , sales generated from ecommerce acquisitions further contributed to the year-over-year increase . gross profit rate decreased 24 basis points for fiscal 2018 and increased 24 basis points for fiscal 2017 , when compared to the previous fiscal year . for fiscal 2018 , the decrease was primarily due to strategic price investments and the mix impact from ecommerce . partially offsetting the negative factors for fiscal 2018 was the positive impact of savings from procuring merchandise . for fiscal 2017 , the increase in gross profit rate was primarily due to improved margin in food and consumables , including the impact of savings in procuring merchandise and lower transportation expense from lower fuel costs . operating expenses as a percentage of segment net sales was relatively flat for fiscal 2018 and increased 101 basis points for fiscal 2017 , when compared to the previous fiscal year . fiscal 2018 and fiscal 2017 included charges related to discontinued real estate projects of $ 244 million and $ 249 million , respectively . for fiscal 2017 , the increase was primarily driven by an increase in wage expense due to the investment in the associate wage structure ; the charge related to discontinued real estate projects ; and investments in digital retail and technology . the increase in operating expenses as a percentage of segment net sales for fiscal 2017 was partially offset by the impact of store closures in fiscal 2016 . as a result of the factors discussed above , segment operating income increased $ 124 million for fiscal 2018 and decreased $ 1.3 billion for fiscal 2017 , respectively. .
Question: what was the percentage change in net sales from 2017 to 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: |
3168159.0 | Context:american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) maturities 2014as of december 31 , 2003 , aggregate principal payments of long-term debt , including capital leases , for the next five years and thereafter are estimated to be ( in thousands ) : year ending december 31 .
|2004|$ 77622|
|2005|115444|
|2006|365051|
|2007|728153|
|2008|808043|
|thereafter|1650760|
|total cash obligations|3745073|
|accreted value of original issue discount of the ati 12.25% ( 12.25 % ) notes|-339601 ( 339601 )|
|accreted value of the related warrants|-44247 ( 44247 )|
|balance as of december 31 2003|$ 3361225|
the holders of the company 2019s convertible notes have the right to require the company to repurchase their notes on specified dates prior to their maturity dates in 2009 and 2010 , but the company may pay the purchase price by issuing shares of class a common stock , subject to certain conditions . obligations with respect to the right of the holders to put the 6.25% ( 6.25 % ) notes and 5.0% ( 5.0 % ) notes have been included in the table above as if such notes mature on the date of their put rights in 2006 and 2007 , respectively . ( see note 19. ) 8 . derivative financial instruments under the terms of the credit facilities , 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 , 2003 are with credit worthy institutions . as of december 31 , 2003 , the company had three interest rate caps outstanding that include an aggregate notional amount of $ 500.0 million ( each at an interest rate of 5% ( 5 % ) ) and expire in 2004 . as of december 31 , 2003 and 2002 , liabilities related to derivative financial instruments of $ 0.0 million and $ 15.5 million are reflected in other long-term liabilities in the accompanying consolidated balance sheet . 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 and a loss of approximately $ 2.2 million for the years ended december 31 , 2002 and 2001 , respectively , which are recorded in loss on investments and other expense in the accompanying consolidated statements of operations for those periods . the company records the changes in fair value of its derivative instruments that are not accounted for as hedges in loss on investments and other expense . the company 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 , 2003. .
Question: what will be the balance of aggregate principal payments of long-term debt as of december 31 , 2005 , assuming that no new debt is issued? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-0.18442 | 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 was the percentage change in cash flows used in investing activities from 2017 to 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: |
2022974.0 | Context:item 7 . management 2019s discussion and analysis of financial condition and results of operations the following discussion and analysis is based primarily on the consolidated financial statements of welltower inc . for the periods presented and should be read together with the notes thereto contained in this annual report on form 10-k . other important factors are identified in 201citem 1 2014 business 201d and 201citem 1a 2014 risk factors 201d above . executive summary company overview welltower inc . ( nyse : hcn ) , an s&p 500 company headquartered in toledo , ohio , is driving the transformation of health care infrastructure . the company invests with leading seniors housing operators , post- acute providers and health systems to fund the real estate and infrastructure needed to scale innovative care delivery models and improve people 2019s wellness and overall health care experience . welltowertm , a real estate investment trust ( 201creit 201d ) , owns interests in properties concentrated in major , high-growth markets in the united states , canada and the united kingdom , consisting of seniors housing and post-acute communities and outpatient medical properties . our capital programs , when combined with comprehensive planning , development and property management services , make us a single-source solution for acquiring , planning , developing , managing , repositioning and monetizing real estate assets . the following table summarizes our consolidated portfolio for the year ended december 31 , 2016 ( dollars in thousands ) : type of property net operating income ( noi ) ( 1 ) percentage of number of properties .
|type of property|net operating income ( noi ) ( 1 )|percentage of noi|number of properties|
|triple-net|$ 1208860|50.3% ( 50.3 % )|631|
|seniors housing operating|814114|33.9% ( 33.9 % )|420|
|outpatient medical|380264|15.8% ( 15.8 % )|262|
|totals|$ 2403238|100.0% ( 100.0 % )|1313|
( 1 ) excludes our share of investments in unconsolidated entities and non-segment/corporate noi . entities in which we have a joint venture with a minority partner are shown at 100% ( 100 % ) of the joint venture amount . business strategy our primary objectives are to protect stockholder capital and enhance stockholder value . we seek to pay consistent cash dividends to stockholders and create opportunities to increase dividend payments to stockholders as a result of annual increases in net operating income and portfolio growth . to meet these objectives , we invest across the full spectrum of seniors housing and health care real estate and diversify our investment portfolio by property type , relationship and geographic location . substantially all of our revenues are derived from operating lease rentals , resident fees and services , and interest earned on outstanding loans receivable . these items represent our primary sources of liquidity to fund distributions and depend upon the continued ability of our obligors to make contractual rent and interest payments to us and the profitability of our operating properties . to the extent that our customers/partners experience operating difficulties and become unable to generate sufficient cash to make payments to us , there could be a material adverse impact on our consolidated results of operations , liquidity and/or financial condition . to mitigate this risk , we monitor our investments through a variety of methods determined by the type of property . our proactive and comprehensive asset management process for seniors housing properties generally includes review of monthly financial statements and other operating data for each property , review of obligor/ partner creditworthiness , property inspections , and review of covenant compliance relating to licensure , real estate taxes , letters of credit and other collateral . our internal property management division actively manages and monitors the outpatient medical portfolio with a comprehensive process including review of tenant relations , lease expirations , the mix of health service providers , hospital/health system relationships , property performance .
Question: what was net operating income in millions attributable to triple-net and seniors housing? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
10.35 | Context:entergy new orleans , inc . and subsidiaries management 2019s financial discussion and analysis entergy new orleans 2019s receivables from the money pool were as follows as of december 31 for each of the following years. .
|2016|2015|2014|2013|
|( in thousands )|( in thousands )|( in thousands )|( in thousands )|
|$ 14215|$ 15794|$ 442|$ 4737|
see note 4 to the financial statements for a description of the money pool . entergy new orleans has a credit facility in the amount of $ 25 million scheduled to expire in november 2018 . the credit facility allows entergy new orleans to issue letters of credit against $ 10 million of the borrowing capacity of the facility . as of december 31 , 2016 , there were no cash borrowings and a $ 0.8 million letter of credit was outstanding under the facility . in addition , entergy new orleans is a party to an uncommitted letter of credit facility as a means to post collateral to support its obligations under miso . as of december 31 , 2016 , a $ 6.2 million letter of credit was outstanding under entergy new orleans 2019s letter of credit facility . see note 4 to the financial statements for additional discussion of the credit facilities . entergy new orleans obtained authorization from the ferc through october 2017 for short-term borrowings not to exceed an aggregate amount of $ 100 million at any time outstanding . see note 4 to the financial statements for further discussion of entergy new orleans 2019s short-term borrowing limits . the long-term securities issuances of entergy new orleans are limited to amounts authorized by the city council , and the current authorization extends through june 2018 . state and local rate regulation the rates that entergy new orleans charges for electricity and natural gas significantly influence its financial position , results of operations , and liquidity . entergy new orleans is regulated and the rates charged to its customers are determined in regulatory proceedings . a governmental agency , the city council , is primarily responsible for approval of the rates charged to customers . retail rates see 201calgiers asset transfer 201d below for discussion of the transfer from entergy louisiana to entergy new orleans of certain assets that serve algiers customers . in march 2013 , entergy louisiana filed a rate case for the algiers area , which is in new orleans and is regulated by the city council . entergy louisiana requested a rate increase of $ 13 million over three years , including a 10.4% ( 10.4 % ) return on common equity and a formula rate plan mechanism identical to its lpsc request . in january 2014 the city council advisors filed direct testimony recommending a rate increase of $ 5.56 million over three years , including an 8.13% ( 8.13 % ) return on common equity . in june 2014 the city council unanimously approved a settlement that includes the following : 2022 a $ 9.3 million base rate revenue increase to be phased in on a levelized basis over four years ; 2022 recovery of an additional $ 853 thousand annually through a miso recovery rider ; and 2022 the adoption of a four-year formula rate plan requiring the filing of annual evaluation reports in may of each year , commencing may 2015 , with resulting rates being implemented in october of each year . the formula rate plan includes a midpoint target authorized return on common equity of 9.95% ( 9.95 % ) with a +/- 40 basis point bandwidth . the rate increase was effective with bills rendered on and after the first billing cycle of july 2014 . additional compliance filings were made with the city council in october 2014 for approval of the form of certain rate riders , including among others , a ninemile 6 non-fuel cost recovery interim rider , allowing for contemporaneous recovery of capacity .
Question: what is the maximum target authorized return on common equity under the formula rate plan? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.7368 | Context:hologic , inc . notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) the aggregate purchase price for suros of approximately $ 248000 ( subject to adjustment ) consisted of 2300 shares of hologic common stock valued at $ 106500 , cash paid of $ 139000 , and approximately $ 2600 for acquisition related fees and expenses . the company determined the fair value of the shares issued in connection with the acquisition in accordance with eitf issue no . 99-12 , determination of the measurement date for the market price of acquirer securities issued in a purchase business combination . the components and allocation of the purchase price , consists of the following approximate amounts: .
|net tangible assets acquired as of july 27 2006|$ 12000|
|in-process research and development|4900|
|developed technology and know how|46000|
|customer relationship|17900|
|trade name|5800|
|deferred income taxes|-21300 ( 21300 )|
|goodwill|182800|
|estimated purchase price|$ 248100|
the acquisition also provides for a two-year earn out . the earn-out will be payable in two annual cash installments equal to the incremental revenue growth in suros 2019 business in the two years following the closing . the company has considered the provision of eitf issue no . 95-8 , accounting for contingent consideration paid to the shareholders of and acquired enterprise in a purchase business combination , and concluded that this contingent consideration represents additional purchase price . as a result , goodwill will be increased by the amount of the additional consideration , if any , when it becomes due and payable . as part of the purchase price allocation , all intangible assets that were a part of the acquisition were identified and valued . it was determined that only customer lists , trademarks and developed technology had separately identifiable values . customer relationships represents suros large installed base that are expected to purchase disposable products on a regular basis . trademarks represent the suros product names that the company intends to continue to use . developed technology represents currently marketable purchased products that the company continues to resell as well as utilize to enhance and incorporate into the company 2019s existing products . the estimated $ 4900 of purchase price allocated to in-process research and development projects primarily related to suros 2019 disposable products . the projects are of various stages of completion and include next generation handpiece and site marker technologies . the company expects that these projects will be completed during fiscal 2007 . the deferred income tax liability relates to the tax effect of acquired identifiable intangible assets , and fair value adjustments to acquired inventory as such amounts are not deductible for tax purposes , partially offset by acquired net operating loss carry forwards that the company believes are realizable . for all of the acquisitions discussed above , goodwill represents the excess of the purchase price over the net identifiable tangible and intangible assets acquired . the company determined that the acquisition of each aeg , r2 and suros resulted in the recognition of goodwill primarily because of synergies unique to the company and the strength of its acquired workforce . supplemental pro-forma information the following unaudited pro forma information presents the consolidated results of operations of the company , r2 and suros as if the acquisitions had occurred at the beginning of each of fiscal 2006 and 2005 .
Question: what percentage of the estimated purchase price is due to goodwill? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.38462 | Context:the grand gulf recovery variance is primarily due to increased recovery of higher costs resulting from the grand gulf uprate . the volume/weather variance is primarily due to the effects of more favorable weather on residential sales and an increase in industrial sales primarily due to growth in the refining segment . the fuel recovery variance is primarily due to : 2022 the deferral of increased capacity costs that will be recovered through fuel adjustment clauses ; 2022 the expiration of the evangeline gas contract on january 1 , 2013 ; and 2022 an adjustment to deferred fuel costs recorded in the third quarter 2012 in accordance with a rate order from the puct issued in september 2012 . see note 2 to the financial statements for further discussion of this puct order issued in entergy texas's 2011 rate case . the miso deferral variance is primarily due to the deferral in april 2013 , as approved by the apsc , of costs incurred since march 2010 related to the transition and implementation of joining the miso rto . the decommissioning trusts variance is primarily due to lower regulatory credits resulting from higher realized income on decommissioning trust fund investments . there is no effect on net income as the credits are offset by interest and investment income . entergy wholesale commodities following is an analysis of the change in net revenue comparing 2013 to 2012 . amount ( in millions ) .
||amount ( in millions )|
|2012 net revenue|$ 1854|
|mark-to-market|-58 ( 58 )|
|nuclear volume|-24 ( 24 )|
|nuclear fuel expenses|-20 ( 20 )|
|nuclear realized price changes|58|
|other|-8 ( 8 )|
|2013 net revenue|$ 1802|
as shown in the table above , net revenue for entergy wholesale commodities decreased by approximately $ 52 million in 2013 primarily due to : 2022 the effect of rising forward power prices on electricity derivative instruments that are not designated as hedges , including additional financial power sales conducted in the fourth quarter 2013 to offset the planned exercise of in-the-money protective call options and to lock in margins . these additional sales did not qualify for hedge accounting treatment , and increases in forward prices after those sales were made accounted for the majority of the negative mark-to-market variance . it is expected that the underlying transactions will result in earnings in first quarter 2014 as these positions settle . see note 16 to the financial statements for discussion of derivative instruments ; 2022 the decrease in net revenue compared to prior year resulting from the exercise of resupply options provided for in purchase power agreements where entergy wholesale commodities may elect to supply power from another source when the plant is not running . amounts related to the exercise of resupply options are included in the gwh billed in the table below ; and entergy corporation and subsidiaries management's financial discussion and analysis .
Question: what are the nuclear fuel expenses as a percentage of the decrease in net revenue from 2012 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: |
20.0 | Context:jpmorgan chase & co./2017 annual report 115 impact of wrong-way risk , which is broadly defined as the potential for increased correlation between the firm 2019s exposure to a counterparty ( avg ) and the counterparty 2019s credit quality . many factors may influence the nature and magnitude of these correlations over time . to the extent that these correlations are identified , the firm may adjust the cva associated with that counterparty 2019s avg . the firm risk manages exposure to changes in cva by entering into credit derivative transactions , as well as interest rate , foreign exchange , equity and commodity derivative transactions . the accompanying graph shows exposure profiles to the firm 2019s current derivatives portfolio over the next 10 years as calculated by the peak , dre and avg metrics . the three measures generally show that exposure will decline after the first year , if no new trades are added to the portfolio . exposure profile of derivatives measures december 31 , 2017 ( in billions ) the following table summarizes the ratings profile by derivative counterparty of the firm 2019s derivative receivables , including credit derivatives , net of all collateral , at the dates indicated . the ratings scale is based on the firm 2019s internal ratings , which generally correspond to the ratings as assigned by s&p and moody 2019s . ratings profile of derivative receivables .
|rating equivalent december 31 ( in millions except ratios )|rating equivalent exposure net of all collateral|rating equivalent % ( % ) of exposure netof all collateral|exposure net of all collateral|% ( % ) of exposure netof all collateral|
|aaa/aaa to aa-/aa3|$ 11529|29% ( 29 % )|$ 11449|28% ( 28 % )|
|a+/a1 to a-/a3|6919|17|8505|20|
|bbb+/baa1 to bbb-/baa3|13925|34|13127|32|
|bb+/ba1 to b-/b3|7397|18|7308|18|
|ccc+/caa1 and below|645|2|984|2|
|total|$ 40415|100% ( 100 % )|$ 41373|100% ( 100 % )|
as previously noted , the firm uses collateral agreements to mitigate counterparty credit risk . the percentage of the firm 2019s over-the-counter derivatives transactions subject to collateral agreements 2014 excluding foreign exchange spot trades , which are not typically covered by collateral agreements due to their short maturity and centrally cleared trades that are settled daily 2014 was approximately 90% ( 90 % ) as of december 31 , 2017 , largely unchanged compared with december 31 , 2016 . credit derivatives the firm uses credit derivatives for two primary purposes : first , in its capacity as a market-maker , and second , as an end-user to manage the firm 2019s own credit risk associated with various exposures . for a detailed description of credit derivatives , see credit derivatives in note 5 . credit portfolio management activities included in the firm 2019s end-user activities are credit derivatives used to mitigate the credit risk associated with traditional lending activities ( loans and unfunded commitments ) and derivatives counterparty exposure in the firm 2019s wholesale businesses ( collectively , 201ccredit portfolio management 201d activities ) . information on credit portfolio management activities is provided in the table below . for further information on derivatives used in credit portfolio management activities , see credit derivatives in note 5 . the firm also uses credit derivatives as an end-user to manage other exposures , including credit risk arising from certain securities held in the firm 2019s market-making businesses . these credit derivatives are not included in credit portfolio management activities ; for further information on these credit derivatives as well as credit derivatives used in the firm 2019s capacity as a market-maker in credit derivatives , see credit derivatives in note 5 . 10 years5 years2 years1 year .
Question: for 2017 , what percentage of derivative receivables are rated junk? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.31287 | Context:the fair value of performance awards is calculated using the market value of a share of snap-on 2019s common stock on the date of grant . the weighted-average grant date fair value of performance awards granted during 2013 , 2012 and 2011 was $ 77.33 , $ 60.00 and $ 55.97 , respectively . vested performance share units approximated 148000 shares as of 2013 year end , 213000 shares as of 2012 year end and 54208 shares as of 2011 year end . performance share units of 213459 shares were paid out in 2013 and 53990 shares were paid out in 2012 ; no performance share units were paid out in 2011 . earned performance share units are generally paid out following the conclusion of the applicable performance period upon approval by the organization and executive compensation committee of the company 2019s board of directors ( the 201cboard 201d ) . based on the company 2019s 2013 performance , 84413 rsus granted in 2013 were earned ; assuming continued employment , these rsus will vest at the end of fiscal 2015 . based on the company 2019s 2012 performance , 95047 rsus granted in 2012 were earned ; assuming continued employment , these rsus will vest at the end of fiscal 2014 . based on the company 2019s 2011 performance , 159970 rsus granted in 2011 were earned ; these rsus vested as of fiscal 2013 year end and were paid out shortly thereafter . as a result of employee retirements , a total of 1614 of the rsus earned in 2012 and 2011 vested pursuant to the terms of the related award agreements and the underlying shares were paid out in the third quarter of 2013 . the changes to the company 2019s non-vested performance awards in 2013 are as follows : shares ( in thousands ) fair value price per share* .
||shares ( in thousands )|fair valueprice pershare*|
|non-vested performance awards at beginning of year|509|$ 59.36|
|granted|180|77.33|
|vested|-306 ( 306 )|58.94|
|cancellations|-2 ( 2 )|69.23|
|non-vested performance awards at end of year|381|68.13|
* weighted-average as of 2013 year end there was approximately $ 12.9 million of unrecognized compensation cost related to non-vested performance awards that is expected to be recognized as a charge to earnings over a weighted-average period of 1.6 years . stock appreciation rights ( 201csars 201d ) the company also issues cash-settled and stock-settled sars to certain key non-u.s . employees . sars have a contractual term of ten years and vest ratably on the first , second and third anniversaries of the date of grant . sars are granted with an exercise price equal to the market value of a share of snap-on 2019s common stock on the date of grant . cash-settled sars provide for the cash payment of the excess of the fair market value of snap-on 2019s common stock price on the date of exercise over the grant price . cash-settled sars have no effect on dilutive shares or shares outstanding as any appreciation of snap-on 2019s common stock value over the grant price is paid in cash and not in common stock . in 2013 , the company began issuing stock-settled sars that are accounted for as equity instruments and provide for the issuance of snap-on common stock equal to the amount by which the company 2019s stock has appreciated over the exercise price . stock-settled sars have an effect on dilutive shares and shares outstanding as any appreciation of snap-on 2019s common stock value over the exercise price will be settled in shares of common stock . 2013 annual report 101 .
Question: what is the total value of non-vested performance awards at end of year , ( 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: |
0.27497 | Context:table of contents 17 . unconditional purchase obligations the company has entered into various unconditional purchase obligations which primarily include software licenses and long- term purchase contracts for network , communication and office maintenance services . the company expended $ 7.2 million , $ 5.3 million and $ 2.9 million related to unconditional purchase obligations that existed as of the beginning of each year for the years ended december 31 , 2016 , 2015 and 2014 , respectively . future expenditures under unconditional purchase obligations in effect as of december 31 , 2016 are as follows : ( in thousands ) .
|2017|$ 14134|
|2018|10288|
|2019|9724|
|2020|2617|
|2021|652|
|total|$ 37415|
18 . restructuring during the fourth quarter of 2016 , the company initiated workforce realignment activities . the company incurred $ 3.4 million in restructuring charges , or $ 2.4 million net of tax , during the year ended december 31 , 2016 . the company expects to incur additional charges of $ 10 million - $ 15 million , or $ 7 million - $ 10 million net of tax , primarily during the first quarter of 2017 . 19 . employment-related settlement on february 15 , 2017 , the company entered into an employment-related settlement agreement . in connection with the settlement agreement , the company will make a lump-sum payment of $ 4.7 million . the charges related to this agreement are included in selling , general and administrative expense in the 2016 consolidated statement of income . as part of the settlement agreement , all the claims initiated against the company will be withdrawn and a general release of all claims in favor of the company and all of its related entities was executed . 20 . contingencies and commitments the company is subject to various investigations , claims and legal proceedings that arise in the ordinary course of business , including commercial disputes , labor and employment matters , tax audits , alleged infringement of intellectual property rights and other matters . in the opinion of the company , the resolution of pending matters is not expected to have a material adverse effect on the company's consolidated results of operations , cash flows or financial position . however , each of these matters is subject to various uncertainties and it is possible that an unfavorable resolution of one or more of these proceedings could materially affect the company's results of operations , cash flows or financial position . an indian subsidiary of the company has several service tax audits pending that have resulted in formal inquiries being received on transactions through mid-2012 . the company could incur tax charges and related liabilities , including those related to the service tax audit case , of approximately $ 7 million . the service tax issues raised in the company 2019s notices and inquiries are very similar to the case , m/s microsoft corporation ( i ) ( p ) ltd . vs commissioner of service tax , new delhi , wherein the delhi customs , excise and service tax appellate tribunal ( cestat ) has passed a favorable ruling to microsoft . the company can provide no assurances on whether the microsoft case 2019s favorable ruling will be challenged in higher courts or on the impact that the present microsoft case 2019s decision will have on the company 2019s cases . the company is uncertain as to when these service tax matters will be concluded . a french subsidiary of the company received notice that the french taxing authority rejected the company's 2012 research and development credit . the company has contested the decision . however , if the company does not receive a favorable outcome , it could incur charges of approximately $ 0.8 million . in addition , an unfavorable outcome could result in the authorities reviewing or rejecting $ 3.8 million of similar research and development credits for 2013 through the current year that are currently reflected as an asset . the company can provide no assurances on the timing or outcome of this matter. .
Question: as of december 31 , 2016 what was the percent of the future expenditures under unconditional purchase obligations that was due 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: |
1.28876 | 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 2016 what was the ratio of the increase in the net income to the decrease in tax | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.17906 | Context:hologic , inc . notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) determination of the measurement date for the market price of acquirer securities issued in a purchase business combination . the components and allocation of the purchase price , consists of the following approximate amounts: .
|net tangible assets acquired as of july 13 2006|$ 800|
|in-process research and development|10200|
|developed technology and know how|39500|
|customer relationship|15700|
|trade name|3300|
|order backlog|800|
|deferred income taxes|4400|
|goodwill|145900|
|estimated purchase price|$ 220600|
the company has begun to assess and formulate a plan to restructure certain of r2 2019s historical activities . as of the acquisition date the company recorded a liability of approximately $ 798 in accordance with eitf issue no . 95-3 , recognition of liabilities in connection with a purchase business combination , related to the termination of certain employees and loss related to the abandonment of certain lease space under this plan of which approximately $ 46 has been paid as of september 30 , 2006 . the company believes this plan will be finalized within one year from the acquisition date and will record any additional liabilities at such time resulting in an increase to goodwill . the final purchase price allocations will be completed within one year of the acquisition and any adjustments are not expected to have a material impact on the company 2019s financial position or results of operation . as part of the purchase price allocation , all intangible assets that were a part of the acquisition were identified and valued . it was determined that only customer relationships , trademarks and developed technology had separately identifiable values . customer relationships represent r2 2019s strong active customer base , dominant market position and strong partnership with several large companies . trademarks represent the r2 product names that the company intends to continue to use . developed technology represents currently marketable purchased products that the company continues to resell as well as utilize to enhance and incorporate into the company 2019s existing products . the estimated $ 10200 of purchase price allocated to in-process research and development projects primarily related to r2s digital cad products . the projects are expected to add direct digital algorithm capabilities as well as a new platform technology to analyze images and breast density measurement . the project is approximately 20% ( 20 % ) complete and the company expects to spend approximately $ 3100 over the year to complete . the deferred income tax asset relates to the tax effect of acquired net operating loss carry forwards that the company believes are realizable partially offset by acquired identifiable intangible assets , and fair value adjustments to acquired inventory as such amounts are not deductible for tax purposes . acquisition of suros surgical systems , inc . on july 27 , 2006 , the company completed the acquisition of suros surgical systems , inc. , pursuant to an agreement and plan of merger dated april 17 , 2006 . the results of operations for suros have been included in the company 2019s consolidated financial statements from the date of acquisition as part of its mammography business segment . suros surgical , located in indianapolis , indiana , develops , manufactures and sells minimally invasive interventional breast biopsy technology and products for biopsy , tissue removal and biopsy site marking. .
Question: what percentage of the estimated purchase price is developed technology and know how? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
222000.0 | Context:location approximate size ( sq . ft. ) segment majority owned or leased .
|location|approximatesize ( sq . ft. )|segment|majorityowned orleased|
|hamilton new zealand|96000|global institutional global industrial|owned|
|calgary alberta canada|94000|global energy|owned|
|kwinana australia|87000|global institutional global industrial|owned|
|revesby australia|87000|global institutional global industrial|owned|
|yangsan korea|85000|global energy global industrial|owned|
|cisterna italy|80000|global industrial|owned|
|rovigo italy|77000|global institutional|owned|
|cuautitlan mexico|76000|global institutional global industrial|owned|
|barueri brazil|75000|global institutional global industrial|leased|
|mullingar ireland|74000|global institutional global industrial|leased|
|mosta malta|73000|global institutional|leased|
generally , our manufacturing facilities are adequate to meet our existing in-house production needs . we continue to invest in our plant sites to maintain viable operations and to add capacity as necessary to meet business imperatives . most of our manufacturing plants also serve as distribution centers . in addition , we operate distribution centers around the world , most of which are leased , and utilize third party logistics service providers to facilitate the distribution of our products and services . at year end 2016 ecolab 2019s corporate headquarters was comprised of three adjacent multi-storied buildings located in downtown st . paul , minnesota . the main 19-story building was constructed to our specifications and is leased through june 30 , 2018 . the second building is leased through 2019 . the company intends to vacate the current leased buildings in 2018 . the third building is owned . ecolab acquired the 17-story north tower from the travelers indemnity company in downtown st . paul , minnesota on august 4 , 2015 . this building became the corporate headquarters in 2017 . a 90 acre campus in eagan , minnesota is owned and provides for future growth . the eagan facility houses a significant research and development center , a data center and training facilities as well as several of our administrative functions . we also have a significant business presence in naperville , illinois , where our water and paper operating segment maintain their principal administrative offices and research center . as discussed in part ii , item 8 , note 6 , 201cdebt and interest 201d of this form 10-k , the company acquired the beneficial interest in the trust owning these facilities during 2015 . our energy operating segment maintains administrative and research facilities in sugar land , texas and additional research facilities in fresno , texas . in december 2013 , we announced the construction of a new 133000 square-foot headquarters building adjacent to the existing sugar land operations which was completed in early 2016 and renovation of the existing 45000 square-foot research facilities in sugar land . significant regional administrative and/or research facilities are located in leiden , netherlands , campinas , brazil , and pune , india , which we own , and in monheim , germany , singapore , shanghai , china , and zurich , switzerland , which we lease . we also have a network of small leased sales offices in the united states and , to a lesser extent , in other parts of the world . item 3 . legal proceedings . discussion of legal proceedings is incorporated by reference from part ii , item 8 , note 15 , 201ccommitments and contingencies , 201d of this form 10-k and should be considered an integral part of part i , item 3 , 201clegal proceedings . 201d other environmental-related legal proceedings are discussed at part i , item 1 ( c ) above , under the heading 201cenvironmental and regulatory considerations 201d and is incorporated herein by reference . item 4 . mine safety disclosures . not applicable. .
Question: how many square feet are leased by the company? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
548.8 | Context:issuer purchases of equity securities during the three months ended december 31 , 2007 , we repurchased 8895570 shares of our class a common stock for an aggregate of $ 385.1 million pursuant to the $ 1.5 billion stock repurchase program publicly announced in february 2007 , as follows : period total number of shares purchased ( 1 ) average price paid per share total number of shares purchased as part of publicly announced plans or programs approximate dollar value of shares that may yet be purchased under the plans or programs ( in millions ) .
|period|total number of shares purchased ( 1 )|average price paid per share|total number of shares purchased as part of publicly announced plans or programs|approximate dollar value of shares that may yet be purchased under the plans or programs ( in millions )|
|october 2007|3493426|$ 43.30|3493426|$ 449.9|
|november 2007|2891719|$ 44.16|2891719|$ 322.2|
|december 2007|2510425|$ 44.20|2510425|$ 216.2|
|total fourth quarter|8895570|$ 43.27|8895570|$ 216.2|
( 1 ) issuer repurchases pursuant to the $ 1.5 billion stock repurchase program publicly announced in february 2007 . under this program , our management was authorized through february 2008 to purchase shares from time to time through open market purchases or privately negotiated transactions at prevailing prices as permitted by securities laws and other legal requirements , and subject to market conditions and other factors . to facilitate repurchases , we typically made purchases pursuant to trading plans under rule 10b5-1 of the exchange act , which allow us to repurchase shares during periods when we otherwise might be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods . subsequent to december 31 , 2007 , we repurchased 4.3 million shares of our class a common stock for an aggregate of $ 163.7 million pursuant to this program . in february 2008 , our board of directors approved a new stock repurchase program , pursuant to which we are authorized to purchase up to an additional $ 1.5 billion of our class a common stock . purchases under this stock repurchase program are subject to us having available cash to fund repurchases , as further described in item 1a of this annual report under the caption 201crisk factors 2014we anticipate that we may need additional financing to fund our stock repurchase programs , to refinance our existing indebtedness and to fund future growth and expansion initiatives 201d and item 7 of this annual report under the caption 201cmanagement 2019s discussion and analysis of financial condition and results of operations 2014liquidity and capital resources . 201d .
Question: during the 4th quarter of 2007 and the first quarter of 2008 , what were cumulative stock purchases in million dollars? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.4 | Context:note 12 derivative instruments and fair value measurements the company is exposed to certain market risks such as changes in interest rates , foreign currency exchange rates , and commodity prices , which exist as a part of its ongoing business operations . management uses derivative financial and commodity instruments , including futures , options , and swaps , where appropriate , to manage these risks . instruments used as hedges must be effective at reducing the risk associated with the exposure being hedged and must be designated as a hedge at the inception of the contract . the company designates derivatives as cash flow hedges , fair value hedges , net investment hedges , and uses other contracts to reduce volatility in interest rates , foreign currency and commodities . as a matter of policy , the company does not engage in trading or speculative hedging transactions . total notional amounts of the company 2019s derivative instruments as of december 29 , 2012 and december 31 , 2011 were as follows: .
|( millions )|2012|2011|
|foreign currency exchange contracts|$ 570|$ 1265|
|interest rate contracts|2150|600|
|commodity contracts|136|175|
|total|$ 2856|$ 2040|
following is a description of each category in the fair value hierarchy and the financial assets and liabilities of the company that were included in each category at december 29 , 2012 and december 31 , 2011 , measured on a recurring basis . level 1 2014 financial assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market . for the company , level 1 financial assets and liabilities consist primarily of commodity derivative contracts . level 2 2014 financial assets and liabilities whose values are based on quoted prices in markets that are not active or model inputs that are observable either directly or indirectly for substantially the full term of the asset or liability . for the company , level 2 financial assets and liabilities consist of interest rate swaps and over-the-counter commodity and currency contracts . the company 2019s calculation of the fair value of interest rate swaps is derived from a discounted cash flow analysis based on the terms of the contract and the interest rate curve . over-the-counter commodity derivatives are valued using an income approach based on the commodity index prices less the contract rate multiplied by the notional amount . foreign currency contracts are valued using an income approach based on forward rates less the contract rate multiplied by the notional amount . the company 2019s calculation of the fair value of level 2 financial assets and liabilities takes into consideration the risk of nonperformance , including counterparty credit risk . level 3 2014 financial assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement . these inputs reflect management 2019s own assumptions about the assumptions a market participant would use in pricing the asset or liability . the company did not have any level 3 financial assets or liabilities as of december 29 , 2012 or december 31 , 2011 . the following table presents assets and liabilities that were measured at fair value in the consolidated balance sheet on a recurring basis as of december 29 , 2012 and december 31 , 2011 : derivatives designated as hedging instruments : 2012 2011 ( millions ) level 1 level 2 total level 1 level 2 total assets : foreign currency exchange contracts : other current assets $ 2014 $ 4 $ 4 $ 2014 $ 11 $ 11 interest rate contracts ( a ) : other assets 2014 64 64 2014 23 23 commodity contracts : other current assets 2014 2014 2014 2 2014 2 total assets $ 2014 $ 68 $ 68 $ 2 $ 34 $ 36 liabilities : foreign currency exchange contracts : other current liabilities $ 2014 $ ( 3 ) $ ( 3 ) $ 2014 $ ( 18 ) $ ( 18 ) commodity contracts : other current liabilities 2014 ( 11 ) ( 11 ) ( 4 ) ( 12 ) ( 16 ) other liabilities 2014 ( 27 ) ( 27 ) 2014 ( 34 ) ( 34 ) total liabilities $ 2014 $ ( 41 ) $ ( 41 ) $ ( 4 ) $ ( 64 ) $ ( 68 ) ( a ) the fair value of the related hedged portion of the company 2019s long-term debt , a level 2 liability , was $ 2.3 billion as of december 29 , 2012 and $ 626 million as of december 31 , derivatives not designated as hedging instruments : 2012 2011 ( millions ) level 1 level 2 total level 1 level 2 total assets : commodity contracts : other current assets $ 5 $ 2014 $ 5 $ 2014 $ 2014 $ 2014 total assets $ 5 $ 2014 $ 5 $ 2014 $ 2014 $ 2014 liabilities : commodity contracts : other current liabilities $ ( 3 ) $ 2014 $ ( 3 ) $ 2014 $ 2014 $ 2014 total liabilities $ ( 3 ) $ 2014 $ ( 3 ) $ 2014 $ 2014 $ 2014 .
Question: by what percent did the total notional amount of the company's derivatives increase 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: |
-6619.0 | 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 net change in the balance of reinsurance receivables and premium receivables 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: |
157.2 | Context:corporate and government bonds corporate and government bonds are classified as level 2 assets , as they are either valued at quoted market prices from observable pricing sources at the reporting date or valued based upon comparable securities with similar yields and credit ratings . real estate pooled funds real estate pooled funds are classified as level 3 assets , as they are carried at the estimated fair value of the underlying properties . estimated fair value is calculated utilizing a combination of key inputs , such as revenue and expense growth rates , terminal capitalization rates , and discount rates . these key inputs are consistent with practices prevailing within the real estate investment management industry . other pooled funds other pooled funds classified as level 2 assets are valued at the nav of the shares held at year end , which is based on the fair value of the underlying investments . securities and interests classified as level 3 are carried at the estimated fair value . the estimated fair value is based on the fair value of the underlying investment values , which includes estimated bids from brokers or other third-party vendor sources that utilize expected cash flow streams and other uncorroborated data including counterparty credit quality , default risk , discount rates , and the overall capital market liquidity . insurance contracts insurance contracts are classified as level 3 assets , as they are carried at contract value , which approximates the estimated fair value . the estimated fair value is based on the fair value of the underlying investment of the insurance company . contributions and projected benefit payments pension contributions to funded plans and benefit payments for unfunded plans for fiscal year 2016 were $ 79.3 . contributions for funded plans resulted primarily from contractual and regulatory requirements . benefit payments to unfunded plans were due primarily to the timing of retirements and cost reduction actions . we anticipate contributing $ 65 to $ 85 to the defined benefit pension plans in 2017 . these contributions are anticipated to be driven primarily by contractual and regulatory requirements for funded plans and benefit payments for unfunded plans , which are dependent upon timing of retirements and actions to reorganize the business . projected benefit payments , which reflect expected future service , are as follows: .
||u.s .|international|
|2017|$ 150.3|$ 45.7|
|2018|152.7|48.3|
|2019|157.2|50.2|
|2020|161.8|51.1|
|2021|166.7|54.3|
|2022 20132026|909.6|306.9|
these estimated benefit payments are based on assumptions about future events . actual benefit payments may vary significantly from these estimates . defined contribution plans we maintain a nonleveraged employee stock ownership plan ( esop ) which forms part of the air products and chemicals , inc . retirement savings plan ( rsp ) . the esop was established in may of 2002 . the balance of the rsp is a qualified defined contribution plan including a 401 ( k ) elective deferral component . a substantial portion of u.s . employees are eligible and participate . we treat dividends paid on esop shares as ordinary dividends . under existing tax law , we may deduct dividends which are paid with respect to shares held by the plan . shares of the company 2019s common stock in the esop totaled 3031534 as of 30 september 2016 . our contributions to the rsp include a company core contribution for certain eligible employees who do not receive their primary retirement benefit from the defined benefit pension plans , with the core contribution based .
Question: considering the year 2019 , what is the highest projected benefit payment 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: |
31903.61446 | Context:table of contents respect to the mainline american and the mainline us airways dispatchers , flight simulator engineers and flight crew training instructors , all of whom are now represented by the twu , a rival organization , the national association of airline professionals ( naap ) , filed single carrier applications seeking to represent those employees . the nmb will have to determine that a single transportation system exists and will certify a post-merger representative of the combined employee groups before the process for negotiating new jcbas can begin . the merger had no impact on the cbas that cover the employees of our wholly-owned subsidiary airlines which are not being merged ( envoy , piedmont and psa ) . for those employees , the rla provides that cbas do not expire , but instead become amendable as of a stated date . in 2014 , envoy pilots ratified a new 10 year collective bargaining agreement , piedmont pilots ratified a new 10 year collective bargaining agreement and piedmont flight attendants ratified a new five-year collective bargaining agreement . with the exception of the passenger service employees who are now engaged in traditional rla negotiations that are expected to result in a jcba and the us airways flight simulator engineers and flight crew training instructors , other union-represented american mainline employees are covered by agreements that are not currently amendable . until those agreements become amendable , negotiations for jcbas will be conducted outside the traditional rla bargaining process described above , and , in the meantime , no self-help will be permissible . the piedmont mechanics and stock clerks and the psa and piedmont dispatchers also have agreements that are now amendable and are engaged in traditional rla negotiations . none of the unions representing our employees presently may lawfully engage in concerted refusals to work , such as strikes , slow-downs , sick-outs or other similar activity , against us . nonetheless , there is a risk that disgruntled employees , either with or without union involvement , could engage in one or more concerted refusals to work that could individually or collectively harm the operation of our airline and impair our financial performance . for more discussion , see part i , item 1a . risk factors 2013 201cunion disputes , employee strikes and other labor-related disruptions may adversely affect our operations . 201d aircraft fuel our operations and financial results are significantly affected by the availability and price of jet fuel . based on our 2015 forecasted mainline and regional fuel consumption , we estimate that , as of december 31 , 2014 , a one cent per gallon increase in aviation fuel price would increase our 2015 annual fuel expense by $ 43 million . the following table shows annual aircraft fuel consumption and costs , including taxes , for our mainline operations for 2012 through 2014 ( gallons and aircraft fuel expense in millions ) . year gallons average price per gallon aircraft fuel expense percent of total mainline operating expenses .
|year|gallons|average price per gallon|aircraft fuel expense|percent of total mainline operating expenses|
|2014|3644|$ 2.91|$ 10592|33.2% ( 33.2 % )|
|2013 ( a )|3608|3.08|11109|35.4|
|2012 ( a )|3512|3.19|11194|35.8|
( a ) represents 201ccombined 201d financial data , which includes the financial results of american and us airways group each on a standalone basis . total combined fuel expenses for our wholly-owned and third-party regional carriers operating under capacity purchase agreements of american and us airways group , each on a standalone basis , were $ 2.0 billion , $ 2.1 billion and $ 2.1 billion for the years ended december 31 , 2014 , 2013 and 2012 , respectively. .
Question: what were total mainline operating expenses in 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: |
1257.0 | Context:own debt valuation adjustments ( dva ) own debt valuation adjustments are recognized on citi 2019s liabilities for which the fair value option has been elected using citi 2019s credit spreads observed in the bond market . effective january 1 , 2016 , changes in fair value of fair value option liabilities related to changes in citigroup 2019s own credit spreads ( dva ) are reflected as a component of aoci . see note 1 to the consolidated financial statements for additional information . among other variables , the fair value of liabilities for which the fair value option has been elected ( other than non-recourse and similar liabilities ) is impacted by the narrowing or widening of the company 2019s credit spreads . the estimated changes in the fair value of these liabilities due to such changes in the company 2019s own credit spread ( or instrument-specific credit risk ) were a gain of $ 1415 million and a loss of $ 680 million for the years ended december 31 , 2018 and 2017 , respectively . changes in fair value resulting from changes in instrument-specific credit risk were estimated by incorporating the company 2019s current credit spreads observable in the bond market into the relevant valuation technique used to value each liability as described above . the fair value option for financial assets and financial liabilities selected portfolios of securities purchased under agreements to resell , securities borrowed , securities sold under agreements to repurchase , securities loaned and certain non-collateralized short-term borrowings the company elected the fair value option for certain portfolios of fixed income securities purchased under agreements to resell and fixed income securities sold under agreements to repurchase , securities borrowed , securities loaned and certain non-collateralized short-term borrowings held primarily by broker-dealer entities in the united states , united kingdom and japan . in each case , the election was made because the related interest rate risk is managed on a portfolio basis , primarily with offsetting derivative instruments that are accounted for at fair value through earnings . changes in fair value for transactions in these portfolios are recorded in principal transactions . the related interest revenue and interest expense are measured based on the contractual rates specified in the transactions and are reported as interest revenue and interest expense in the consolidated statement of income . certain loans and other credit products citigroup has also elected the fair value option for certain other originated and purchased loans , including certain unfunded loan products , such as guarantees and letters of credit , executed by citigroup 2019s lending and trading businesses . none of these credit products are highly leveraged financing commitments . significant groups of transactions include loans and unfunded loan products that are expected to be either sold or securitized in the near term , or transactions where the economic risks are hedged with derivative instruments , such as purchased credit default swaps or total return swaps where the company pays the total return on the underlying loans to a third party . citigroup has elected the fair value option to mitigate accounting mismatches in cases where hedge accounting is complex and to achieve operational simplifications . fair value was not elected for most lending transactions across the company . the following table provides information about certain credit products carried at fair value: .
|in millions of dollars|december 31 2018 trading assets|december 31 2018 loans|december 31 2018 trading assets|loans|
|carrying amount reported on the consolidated balance sheet|$ 10108|$ 3224|$ 8851|$ 4374|
|aggregate unpaid principal balance in excess of fair value|435|741|623|682|
|balance of non-accrual loans or loans more than 90 days past due|2014|1|2014|1|
|aggregate unpaid principal balance in excess of fair value for non-accrual loans or loans more than 90 days past due|2014|2014|2014|1|
in addition to the amounts reported above , $ 1137 million and $ 508 million of unfunded commitments related to certain credit products selected for fair value accounting were outstanding as of december 31 , 2018 and 2017 , respectively. .
Question: what was the difference in millions of carrying amount reported on the consolidated balance sheet for trading assets between 2018 and the year prior? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-0.7284 | Context:the graph below compares expeditors international of washington , inc.'s cumulative 5-year total shareholder return on common stock with the cumulative total returns of the s&p 500 index , the nasdaq transportation index , and the nasdaq industrial transportation index ( nqusb2770t ) as a replacement for the nasdaq transportation index . the company is making the modification to reference a specific transportation index and to source that data directly from nasdaq . the graph assumes that the value of the investment in our common stock and in each of the indexes ( including reinvestment of dividends ) was $ 100 on 12/31/2012 and tracks it through 12/31/2017 . total return assumes reinvestment of dividends in each of the indices indicated . comparison of 5-year cumulative total return among expeditors international of washington , inc. , the s&p 500 index , the nasdaq industrial transportation index and the nasdaq transportation index. .
||12/12|12/13|12/14|12/15|12/16|12/17|
|expeditors international of washington inc .|$ 100.00|$ 113.52|$ 116.07|$ 119.12|$ 142.10|$ 176.08|
|standard and poor's 500 index|100.00|132.39|150.51|152.59|170.84|208.14|
|nasdaq transportation|100.00|133.76|187.65|162.30|193.79|248.92|
|nasdaq industrial transportation ( nqusb2770t )|100.00|141.60|171.91|132.47|171.17|218.34|
the stock price performance included in this graph is not necessarily indicative of future stock price performance . item 6 2014 selected financial data financial highlights in thousands , except per share data 2017 2016 2015 2014 2013 revenues ..................................................................... . $ 6920948 6098037 6616632 6564721 6080257 net revenues1 ............................................................... . $ 2319189 2164036 2187777 1981427 1882853 net earnings attributable to shareholders ..................... . $ 489345 430807 457223 376888 348526 diluted earnings attributable to shareholders per share $ 2.69 2.36 2.40 1.92 1.68 basic earnings attributable to shareholders per share.. . $ 2.73 2.38 2.42 1.92 1.69 dividends declared and paid per common share.......... . $ 0.84 0.80 0.72 0.64 0.60 cash used for dividends ............................................... . $ 150495 145123 135673 124634 123292 cash used for share repurchases ................................. . $ 478258 337658 629991 550781 261936 working capital ............................................................. . $ 1448333 1288648 1115136 1285188 1526673 total assets .................................................................. . $ 3117008 2790871 2565577 2870626 2996416 shareholders 2019 equity ..................................................... . $ 1991858 1844638 1691993 1868408 2084783 weighted average diluted shares outstanding .............. . 181666 182704 190223 196768 206895 weighted average basic shares outstanding ................ . 179247 181282 188941 196147 205995 _______________________ 1non-gaap measure calculated as revenues less directly related operating expenses attributable to our principal services . see management's discussion and analysis for a reconciliation of net revenues to revenues . safe harbor for forward-looking statements under private securities litigation reform act of 1995 ; certain cautionary statements this annual report on form 10-k for the fiscal year ended december 31 , 2017 contains 201cforward-looking statements , 201d as defined in section 27a of the securities act of 1933 , as amended , and section 21e of the securities exchange act of 1934 , as amended . from time to time , expeditors or its representatives have made or may make forward-looking statements , orally or in writing . such forward-looking statements may be included in , but not limited to , press releases , presentations , oral statements made with the approval of an authorized executive officer or in various filings made by expeditors with the securities and exchange commission . statements including those preceded by , followed by or that include the words or phrases 201cwill likely result 201d , 201care expected to 201d , "would expect" , "would not expect" , 201cwill continue 201d , 201cis anticipated 201d , 201cestimate 201d , 201cproject 201d , "provisional" , "plan" , "believe" , "probable" , "reasonably possible" , "may" , "could" , "should" , "intends" , "foreseeable future" or similar expressions are intended to identify 201cforward-looking statements 201d within the meaning of the private securities litigation reform act of 1995 . such statements are qualified in their entirety by reference to and are accompanied by the discussion in item 1a of certain important factors that could cause actual results to differ materially from such forward-looking statements . the risks included in item 1a are not exhaustive . furthermore , reference is also made to other sections of this report , which include additional factors that could adversely impact expeditors' business and financial performance . moreover , expeditors operates in a very competitive , complex and rapidly changing global environment . new risk factors emerge from time to time and it is not possible for management to predict all of such risk factors , nor can it assess the impact of all of such risk factors on expeditors' business or the extent to which any factor , or combination of factors , may cause actual results to differ materially from those contained in any forward-looking statements . accordingly , forward-looking statements cannot be relied upon as a guarantee of actual results . shareholders should be aware that while expeditors does , from time to time , communicate with securities analysts , it is against expeditors' policy to disclose to such analysts any material non-public information or other confidential commercial information . accordingly , shareholders should not assume that expeditors agrees with any statement or report issued by any analyst irrespective of the content of such statement or report . furthermore , expeditors has a policy against issuing financial forecasts or projections or confirming the accuracy of forecasts or projections issued by others . accordingly , to the extent that reports issued by securities analysts contain any projections , forecasts or opinions , such reports are not the responsibility of expeditors. .
Question: what is the difference in percentage return between expeditors international of washington inc . and the nasdaq transportation for the five years ended 12/17? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
85.46569 | Context:d u k e r e a l t y c o r p o r a t i o n 2 8 2 0 0 2 a n n u a l r e p o r t notes to consolidated financial statements the company recognizes income on long-term construction contracts where the company serves as a general contractor on the percentage of completion method . using this method , profits are recorded on the basis of the company 2019s estimates of the percentage of completion of individual contracts , commencing when progress reaches a point where experience is sufficient to estimate final results with reasonable accuracy . that portion of the estimated earnings is accrued on the basis of the company 2019s estimates of the percentage of completion based on contract expenditures incurred and work performed . property sales gains from sales of depreciated property are recognized in accordance with statement of financial accounting standards ( 201csfas 201d ) no . 66 , and are included in earnings from sales of land and depreciable property dispositions , net of impairment adjustment , in the statement of operations if identified as held for sale prior to adoption of sfas 144 and in discontinued operations if identified as held for sale after adoption of sfas 144 . gains or losses from the sale of property which is considered held for sale in dclp are recognized in accordance with sfas 66 and are included in construction management and development activity income in the statement of operations . net income per common share basic net income per common share is computed by dividing net income available for common shares by the weighted average number of common shares outstanding for the period . diluted net income per share is computed by dividing the sum of net income available for common shares and minority interest in earnings of unitholders , by the sum of the weighted average number of common shares and units outstanding and dilutive potential common shares for the period . the following table reconciles the components of basic and diluted net income per share ( in thousands ) : the series d convertible preferred stock and the series g convertible preferred limited partner units were anti-dilutive for the years ended december 31 , 2002 , 2001 and 2000 ; therefore , no conversion to common shares is included in weighted dilutive potential common shares . in september 2002 , the company redeemed the series g convertible preferred units at their par value of $ 35.0 million . a joint venture partner in one of the company 2019s unconsolidated companies has the option to convert a portion of its ownership to company common shares ( see discussion in investments in unconsolidated companies section ) . the effect of the option on earnings per share was dilutive for the year ended december 31 , 2001 ; therefore , conversion to common shares is included in weighted dilutive potential common shares . federal income taxes the company has elected to be taxed as a real estate investment trust ( 201creit 201d ) under the internal revenue code . to qualify as a reit , the company must meet a number of organizational and operational requirements , including a requirement that it currently distribute at least 90% ( 90 % ) of its taxable income to its stockholders . management intends to continue to adhere to these requirements and to maintain the company 2019s reit status . as a reit , the company is entitled to a tax deduction for some or all of the dividends it pays to its shareholders . accordingly , the company generally will not be subject to federal income taxes as long as it distributes an amount equal to or in excess of its taxable income currently to its stockholders . a reit generally is subject to federal income taxes on any taxable income that is not currently distributed to its shareholders . if the company fails to qualify as a reit in any taxable year , it will be subject to federal income taxes and may not be able to qualify as a reit for four subsequent taxable years . reit qualification reduces , but does not eliminate , the amount of state and local taxes paid by the company . in addition , the company 2019s financial statements include the operations of taxable corporate subsidiaries that are not entitled to a dividends paid deduction and are subject to corporate federal , state and local income taxes . as a reit , the company may also be subject to certain federal excise taxes if it engages in certain types of transactions. .
||2002|2001|2000|
|basic net income available for common shares|$ 161272|$ 229967|$ 212958|
|joint venture partner convertible ownership net income|2014|3423|2014|
|minority interest in earnings of common unitholders|18568|32463|32071|
|diluted net income available for common shares and dilutive potential common shares|$ 179840|$ 265853|$ 245029|
|weighted average number of common shares outstanding|133981|129660|126836|
|weighted average partnership units outstanding|15442|18301|19070|
|joint venture partner convertible ownership common share equivalents|2014|2092|2014|
|dilutive shares for stock-based compensation plans|1416|1657|1535|
|weighted average number of common shares and dilutive potential common shares|150839|151710|147441|
.
Question: the weighted average number of common shares outstanding comprises what percent of weighted average number of common shares and dilutive potential common shares in the year 2001? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.0744 | Context:financial assurance we must provide financial assurance to governmental agencies and a variety of other entities under applicable environmental regulations relating to our landfill operations for capping , closure and post-closure costs , and related to our performance under certain collection , landfill and transfer station contracts . we satisfy these financial assurance requirements by providing surety bonds , letters of credit , or insurance policies ( financial assurance instruments ) , or trust deposits , which are included in restricted cash and marketable securities and other assets in our consolidated balance sheets . the amount of the financial assurance requirements for capping , closure and post-closure costs is determined by applicable state environmental regulations . the financial assurance requirements for capping , closure and post-closure costs may be associated with a portion of the landfill or the entire landfill . generally , states require a third-party engineering specialist to determine the estimated capping , closure and post-closure costs that are used to determine the required amount of financial assurance for a landfill . the amount of financial assurance required can , and generally will , differ from the obligation determined and recorded under u.s . gaap . the amount of the financial assurance requirements related to contract performance varies by contract . additionally , we must provide financial assurance for our insurance program and collateral for certain performance obligations . we do not expect a material increase in financial assurance requirements during 2016 , although the mix of financial assurance instruments may change . these financial assurance instruments are issued in the normal course of business and are not considered indebtedness . because we currently have no liability for the financial assurance instruments , they are not reflected in our consolidated balance sheets ; however , we record capping , closure and post-closure liabilities and insurance liabilities as they are incurred . off-balance sheet arrangements we have no off-balance sheet debt or similar obligations , other than operating leases and financial assurances , which are not classified as debt . we have no transactions or obligations with related parties that are not disclosed , consolidated into or reflected in our reported financial position or results of operations . we have not guaranteed any third-party debt . free cash flow we define free cash flow , which is not a measure determined in accordance with u.s . gaap , 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 . the following table calculates our free cash flow for the years ended december 31 , 2015 , 2014 and 2013 ( in millions of dollars ) : .
||2015|2014|2013|
|cash provided by operating activities|$ 1679.7|$ 1529.8|$ 1548.2|
|purchases of property and equipment|-945.6 ( 945.6 )|-862.5 ( 862.5 )|-880.8 ( 880.8 )|
|proceeds from sales of property and equipment|21.2|35.7|23.9|
|free cash flow|$ 755.3|$ 703.0|$ 691.3|
for a discussion of the changes in the components of free cash flow , see our discussion regarding cash flows provided by operating activities and cash flows used in investing activities contained elsewhere in this management 2019s discussion and analysis of financial condition and results of operations. .
Question: what was the percentage change in the free cash flow 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: |
113.0 | Context:decreased by one percentage point per year , such increases or decreases would have the following effects: .
|( millions )|one-percentage point increase|one-percentage point decrease|
|increase ( decrease ) in the aggregate of service and interest cost components|$ 10|$ -8 ( 8 )|
|increase ( decrease ) in the benefit obligation|$ 95|$ -82 ( 82 )|
increase ( decrease ) in the aggregate of service and interest cost components $ 10 $ ( 8 ) increase ( decrease ) in the benefit obligation $ 95 $ ( 82 ) the company also incurred costs for multi-employer pen- sion plans of $ 2 million in 2003 and $ 1 million for both 2002 and 2001 . multi-employer healthcare costs totaled $ 1 million in each of the years 2003 , 2002 and 2001 . the company has a deferred compensation plan for certain key managers which allows them to defer a portion of their compensation in a phantom ppg stock account or other phantom investment accounts . the amount deferred earns a return based on the investment options selected by the participant . the amount owed to participants is an unfunded and unsecured general obligation of the company . upon retirement , death , disability or termination of employment , the compensation deferred and related accumulated earnings are distributed in cash or in ppg stock , based on the accounts selected by the participant . the plan provides participants with investment alterna- tives and the ability to transfer amounts between the phan- tom non-ppg stock investment accounts . to mitigate the impact on compensation expense of changes in the market value of the liability , the company purchased a portfolio of marketable securities that mirror the phantom non-ppg stock investment accounts selected by the participants except the money market accounts . the changes in market value of these securities are also included in earnings . trading will occur in this portfolio to align the securities held with the participant 2019s phantom non-ppg stock invest- ment accounts except the money market accounts . the cost of the deferred compensation plan , comprised of dividend equivalents accrued on the phantom ppg stock account , investment income and the change in market value of the liability , was a loss in 2003 of $ 13 million , and income of $ 9 million and $ 6 million in 2002 and 2001 , respectively . these amounts are included in 201cselling , gener- al and administrative 201d in the accompanying statement of income . the change in market value of the investment portfolio in 2003 was income of $ 13 million , and a loss of $ 10 million and $ 7 million in 2002 and 2001 , respectively , and is also included in 201cselling , general and administrative . 201d the company 2019s obligations under this plan , which are included in 201cother liabilities 201d in the accompanying balance sheet , were $ 100 million and $ 84 million as of dec . 31 , 2003 and 2002 , respectively , and the investments in mar- ketable securities , which are included in 201cinvestments 201d in the accompanying balance sheet , were $ 68 million and $ 53 million as of dec . 31 , 2003 and 2002 , respectively . 13 . commitments and contingent liabilities ppg is involved in a number of lawsuits and claims , both actual and potential , including some that it has asserted against others , in which substantial monetary damages are sought . these lawsuits and claims , the most significant of which are described below , relate to product liability , con- tract , patent , environmental , antitrust and other matters arising out of the conduct of ppg 2019s business . to the extent that these lawsuits and claims involve personal injury and property damage , ppg believes it has adequate insurance ; however , certain of ppg 2019s insurers are contesting coverage with respect to some of these claims , and other insurers , as they had prior to the asbestos settlement described below , may contest coverage with respect to some of the asbestos claims if the settlement is not implemented . ppg 2019s lawsuits and claims against others include claims against insurers and other third parties with respect to actual and contin- gent losses related to environmental , asbestos and other matters . the result of any future litigation of such lawsuits and claims is inherently unpredictable . however , management believes that , in the aggregate , the outcome of all lawsuits and claims involving ppg , including asbestos-related claims in the event the settlement described below does not become effective , will not have a material effect on ppg 2019s consolidated financial position or liquidity ; however , any such outcome may be material to the results of operations of any particular period in which costs , if any , are recognized . the company has been named as a defendant , along with various other co-defendants , in a number of antitrust lawsuits , including suits in various state and federal courts alleging that ppg acted with competitors to fix prices and allocate markets in the automotive refinish industry and a federal class action suit relating to certain glass products . the federal automotive refinish cases have been consoli- dated in the u.s . district court for the eastern district of pennsylvania located in philadelphia , pa. , but these proceed- ings are at an early stage . the state automotive refinish cases have either been stayed pending resolution of the federal proceedings or have been dismissed . all of the initial defendants in the glass class action antitrust case other than ppg have settled . on may 29 , 2003 , the u.s . district court for the western district of pennsylvania located in pittsburgh , pa . granted ppg 2019s motion for summary judgment dismissing the claims against ppg in the glass class action antitrust case . the plaintiffs in that case have appealed that 2003 annual report and form 10-k 25a0 ppg industries , inc . 43 .
Question: without the change in market value of the investment portfolio in 2003 , what would the company 2019s obligations be under the deferred comp plan , 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: |
0.33102 | Context:incentive compensation cost the following table shows components of compensation expense , relating to certain of the incentive compensation programs described above : in a0millions a0of a0dollars 2018 2017 2016 charges for estimated awards to retirement-eligible employees $ 669 $ 659 $ 555 amortization of deferred cash awards , deferred cash stock units and performance stock units 202 354 336 immediately vested stock award expense ( 1 ) 75 70 73 amortization of restricted and deferred stock awards ( 2 ) 435 474 509 .
|in millions of dollars|2018|2017|2016|
|charges for estimated awards to retirement-eligible employees|$ 669|$ 659|$ 555|
|amortization of deferred cash awards deferred cash stock units and performance stock units|202|354|336|
|immediately vested stock award expense ( 1 )|75|70|73|
|amortization of restricted and deferred stock awards ( 2 )|435|474|509|
|other variable incentive compensation|640|694|710|
|total|$ 2021|$ 2251|$ 2183|
( 1 ) represents expense for immediately vested stock awards that generally were stock payments in lieu of cash compensation . the expense is generally accrued as cash incentive compensation in the year prior to grant . ( 2 ) all periods include amortization expense for all unvested awards to non-retirement-eligible employees. .
Question: in 2018 what was the percent of the incentive compensation associated with charges for estimated awards to retirement-eligible employees | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
no | Context:108 / sl green realty corp . 2017 annual report espp provides for eligible employees to purchase the common stock at a purchase price equal to 85% ( 85 % ) of the lesser of ( 1 ) a0the market value of the common stock on the first day of the offer- ing period or ( 2 ) a0the market value of the common stock on the last day of the offering period . the espp was approved by our stockholders at our 2008 annual meeting of stockholders . as of december a031 , 2017 , 104597 a0shares of our common stock had been issued under the espp . available for issuance , subject to adjustment upon a merger , reorganization , stock split or other similar corporate change . the company filed a registration statement on form a0s-8 with the sec with respect to the espp . the common stock is offered for purchase through a series of successive offering periods . each offering period will be three months in duration and will begin on the first day of each calendar quarter , with the first a0offering period having commenced on january a01 , 2008 . the 15 . accumulated other comprehensive income the following tables set forth the changes in accumulated other comprehensive income ( loss ) by component as of december a031 , 2017 , 2016 and 2015 ( in thousands ) : sl a0green 2019s share net unrealized of joint venture net unrealized gain on net unrealized gain on derivative gain on derivative marketable instruments ( 1 ) instruments ( 2 ) securities total .
||net unrealized gain on derivative instruments ( 1 )|sl green 2019s share of joint venture net unrealized gain on derivative instruments ( 2 )|net unrealized gain on marketable securities|total|
|balance at december 31 2014|$ -9498 ( 9498 )|$ -95 ( 95 )|$ 2613|$ -6980 ( 6980 )|
|other comprehensive loss before reclassifications|-11143 ( 11143 )|-1714 ( 1714 )|-610 ( 610 )|-13467 ( 13467 )|
|amounts reclassified from accumulated other comprehensive income|10481|1217|2014|11698|
|balance at december 31 2015|-10160 ( 10160 )|-592 ( 592 )|2003|-8749 ( 8749 )|
|other comprehensive income before reclassifications|13534|1160|3517|18211|
|amounts reclassified from accumulated other comprehensive income|9222|3453|2014|12675|
|balance at december 31 2016|12596|4021|5520|22137|
|other comprehensive ( loss ) income before reclassifications|-1618 ( 1618 )|233|-1348 ( 1348 )|-2733 ( 2733 )|
|amounts reclassified from accumulated other comprehensive income|1564|766|-3130 ( 3130 )|-800 ( 800 )|
|balance at december 31 2017|$ 12542|$ 5020|$ 1042|$ 18604|
( 1 ) amount reclassified from accumulated other comprehensive income ( loss ) is included in interest expense in the respective consolidated statements of operations . as of december a031 , 2017 and 2016 , the deferred net losses from these terminated hedges , which is included in accumulated other comprehensive loss relating to net unrealized loss on derivative instrument , was $ 3.2 a0million and $ 7.1 a0million , respectively . ( 2 ) amount reclassified from accumulated other comprehensive income ( loss ) is included in equity in net income from unconsolidated joint ventures in the respective consolidated statements of operations . 16 . fair value measurements we are required to disclose fair value information with regard to our financial instruments , whether or not recognized in the consolidated balance sheets , for which it is practical to estimate fair value . the fasb guidance defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date . we measure and/or disclose the estimated fair value of financial assets and liabilities based on a hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity and the reporting entity 2019s own assumptions about market participant assumptions . this hierarchy consists of three broad levels : level a01 2014 quoted prices ( unadjusted ) in active markets for identical assets or liabilities that the reporting entity can access at the measurement date ; level a02 2014 inputs other than quoted prices included within level a01 , that are observable for the asset or liability , either directly or indirectly ; and level a03 2014 unobservable inputs for the asset or liability that are used when little or no market data is available . we follow this hierarchy for our assets and liabilities measured at fair value on a recurring and nonrecurring basis . in instances in which the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy , the level in the fair value hierarchy within which the entire fair value measure- ment falls is based on the lowest level of input that is significant to the fair value measurement in its entirety . our assessment of the significance of the particular input to the fair value mea- surement in its entirety requires judgment and considers factors specific to the asset or liability. .
Question: is the aoci balance for marketable securities greater than derivatives as of december 31 2017? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.05 | 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 the state street corporation 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: |
7.0 | Context:the fair value of the interest agreements at december 31 , 2007 and december 31 , 2006 was $ 3 million and $ 1 million , respectively . the company is exposed to credit loss in the event of nonperformance by the counterparties to its swap contracts . the company minimizes its credit risk on these transactions by only dealing with leading , creditworthy financial institutions and does not anticipate nonperformance . in addition , the contracts are distributed among several financial institutions , all of whom presently have investment grade credit ratings , thus minimizing credit risk concentration . stockholders 2019 equity derivative instruments activity , net of tax , included in non-owner changes to equity within the consolidated statements of stockholders 2019 equity for the years ended december 31 , 2007 and 2006 is as follows: .
||2007|2006|2005|
|balance at january 1|$ 16|$ 2|$ -272 ( 272 )|
|increase ( decrease ) in fair value|-6 ( 6 )|75|28|
|reclassifications to earnings|-10 ( 10 )|-61 ( 61 )|246|
|balance at december 31|$ 2014|$ 16|$ 2|
net investment in foreign operations hedge at december 31 , 2007 and 2006 , the company did not have any hedges of foreign currency exposure of net investments in foreign operations . investments hedge during the first quarter of 2006 , the company entered into a zero-cost collar derivative ( the 201csprint nextel derivative 201d ) to protect itself economically against price fluctuations in its 37.6 million shares of sprint nextel corporation ( 201csprint nextel 201d ) non-voting common stock . during the second quarter of 2006 , as a result of sprint nextel 2019s spin-off of embarq corporation through a dividend to sprint nextel shareholders , the company received approximately 1.9 million shares of embarq corporation . the floor and ceiling prices of the sprint nextel derivative were adjusted accordingly . the sprint nextel derivative was not designated as a hedge under the provisions of sfas no . 133 , 201caccounting for derivative instruments and hedging activities . 201d accordingly , to reflect the change in fair value of the sprint nextel derivative , the company recorded a net gain of $ 99 million for the year ended december 31 , 2006 , included in other income ( expense ) in the company 2019s consolidated statements of operations . in december 2006 , the sprint nextel derivative was terminated and settled in cash and the 37.6 million shares of sprint nextel were converted to common shares and sold . the company received aggregate cash proceeds of approximately $ 820 million from the settlement of the sprint nextel derivative and the subsequent sale of the 37.6 million sprint nextel shares . the company recognized a loss of $ 126 million in connection with the sale of the remaining shares of sprint nextel common stock . as described above , the company recorded a net gain of $ 99 million in connection with the sprint nextel derivative . prior to the merger of sprint corporation ( 201csprint 201d ) and nextel communications , inc . ( 201cnextel 201d ) , the company had entered into variable share forward purchase agreements ( the 201cvariable forwards 201d ) to hedge its nextel common stock . the company did not designate the variable forwards as a hedge of the sprint nextel shares received as a result of the merger . accordingly , the company recorded $ 51 million of gains for the year ended december 31 , 2005 reflecting the change in value of the variable forwards . the variable forwards were settled during the fourth quarter of 2005 . fair value of financial instruments the company 2019s financial instruments include cash equivalents , sigma fund investments , short-term investments , accounts receivable , long-term finance receivables , accounts payable , accrued liabilities , derivatives and other financing commitments . the company 2019s sigma fund and investment portfolios and derivatives are recorded in the company 2019s consolidated balance sheets at fair value . all other financial instruments , with the exception of long-term debt , are carried at cost , which is not materially different than the instruments 2019 fair values. .
Question: what is the percent change in stockholders 2019 equity derivative between january and december 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: |
0.31325 | Context:interest expense , net was $ 26.4 million , $ 14.6 million , and $ 5.3 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively . interest expense includes the amortization of deferred financing costs , bank fees , capital and built-to-suit lease interest and interest expense under the credit and other long term debt facilities . amortization of deferred financing costs was $ 1.2 million , $ 0.8 million , and $ 0.6 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively . the company monitors the financial health and stability of its lenders under the credit and other long term debt facilities , however during any period of significant instability in the credit markets lenders could be negatively impacted in their ability to perform under these facilities . 6 . commitments and contingencies obligations under operating leases the company leases warehouse space , office facilities , space for its brand and factory house stores and certain equipment under non-cancelable operating leases . the leases expire at various dates through 2033 , excluding extensions at the company 2019s option , and include provisions for rental adjustments . the table below includes executed lease agreements for brand and factory house stores that the company did not yet occupy as of december 31 , 2016 and does not include contingent rent the company may incur at its stores based on future sales above a specified minimum or payments made for maintenance , insurance and real estate taxes . the following is a schedule of future minimum lease payments for non-cancelable real property operating leases as of december 31 , 2016 as well as significant operating lease agreements entered into during the period after december 31 , 2016 through the date of this report : ( in thousands ) .
|2017|$ 114857|
|2018|127504|
|2019|136040|
|2020|133092|
|2021|122753|
|2022 and thereafter|788180|
|total future minimum lease payments|$ 1422426|
included in selling , general and administrative expense was rent expense of $ 109.0 million , $ 83.0 million and $ 59.0 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively , under non-cancelable operating lease agreements . included in these amounts was contingent rent expense of $ 13.0 million , $ 11.0 million and $ 11.0 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively . sports marketing and other commitments within the normal course of business , the company enters into contractual commitments in order to promote the company 2019s brand and products . these commitments include sponsorship agreements with teams and athletes on the collegiate and professional levels , official supplier agreements , athletic event sponsorships and other marketing commitments . the following is a schedule of the company 2019s future minimum payments under its sponsorship and other marketing agreements as of december 31 .
Question: what percentage change in rent expense from 2015 to 2016? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
Subsets and Splits