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yes | Context:maintenance and contract expenses incurred by our subsidiaries for external transportation services ) ; materials used to maintain the railroad 2019s lines , structures , and equipment ; costs of operating facilities jointly used by uprr and other railroads ; transportation and lodging for train crew employees ; trucking and contracting costs for intermodal containers ; leased automobile maintenance expenses ; and tools and supplies . expenses for contract services increased $ 103 million in 2012 versus 2011 , primarily due to increased demand for transportation services purchased by our logistics subsidiaries for their customers and additional costs for repair and maintenance of locomotives and freight cars . expenses for contract services increased $ 106 million in 2011 versus 2010 , driven by volume-related external transportation services incurred by our subsidiaries , and various other types of contractual services , including flood-related repairs , mitigation and improvements . volume-related crew transportation and lodging costs , as well as expenses associated with jointly owned operating facilities , also increased costs compared to 2010 . in addition , an increase in locomotive maintenance materials used to prepare a portion of our locomotive fleet for return to active service due to increased volume and additional capacity for weather related issues and warranty expirations increased expenses in 2011 . depreciation 2013 the majority of depreciation relates to road property , including rail , ties , ballast , and other track material . a higher depreciable asset base , reflecting ongoing capital spending , increased depreciation expense in 2012 compared to 2011 . a higher depreciable asset base , reflecting ongoing capital spending , increased depreciation expense in 2011 compared to 2010 . higher depreciation rates for rail and other track material also contributed to the increase . the higher rates , which became effective january 1 , 2011 , resulted primarily from increased track usage ( based on higher gross ton-miles in 2010 ) . equipment and other rents 2013 equipment and other rents expense primarily includes rental expense that the railroad pays for freight cars owned by other railroads or private companies ; freight car , intermodal , and locomotive leases ; and office and other rent expenses . increased automotive and intermodal shipments , partially offset by improved car-cycle times , drove an increase in our short-term freight car rental expense in 2012 . conversely , lower locomotive lease expense partially offset the higher freight car rental expense . costs increased in 2011 versus 2010 as higher short-term freight car rental expense and container lease expense offset lower freight car and locomotive lease expense . other 2013 other expenses include personal injury , freight and property damage , destruction of equipment , insurance , environmental , bad debt , state and local taxes , utilities , telephone and cellular , employee travel , computer software , and other general expenses . other costs in 2012 were slightly higher than 2011 primarily due to higher property taxes . despite continual improvement in our safety experience and lower estimated annual costs , personal injury expense increased in 2012 compared to 2011 , as the liability reduction resulting from historical claim experience was less than the reduction in 2011 . higher property taxes , casualty costs associated with destroyed equipment , damaged freight and property and environmental costs increased other costs in 2011 compared to 2010 . a one-time payment of $ 45 million in the first quarter of 2010 related to a transaction with csxi and continued improvement in our safety performance and lower estimated liability for personal injury , which reduced our personal injury expense year-over-year , partially offset increases in other costs . non-operating items millions 2012 2011 2010 % ( % ) change 2012 v 2011 % ( % ) change 2011 v 2010 .
|millions|2012|2011|2010|% ( % ) change 2012 v 2011|% ( % ) change 2011 v 2010|
|other income|$ 108|$ 112|$ 54|( 4 ) % ( % )|107% ( 107 % )|
|interest expense|-535 ( 535 )|-572 ( 572 )|-602 ( 602 )|-6 ( 6 )|-5 ( 5 )|
|income taxes|-2375 ( 2375 )|-1972 ( 1972 )|-1653 ( 1653 )|20% ( 20 % )|19% ( 19 % )|
other income 2013 other income decreased in 2012 versus 2011 due to lower gains from real estate sales and higher environmental costs associated with non-operating properties , partially offset by an interest payment from a tax refund. .
Question: was 2010 interest expense greater than the nonrecurring expenses of the one-time payment to csx in the first quarter of 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: |
0.09752 | Context:sacramento container acquisition in october 2017 , pca acquired substantially all of the assets of sacramento container corporation , and 100% ( 100 % ) of the membership interests of northern sheets , llc and central california sheets , llc ( collectively referred to as 201csacramento container 201d ) for a purchase price of $ 274 million , including working capital adjustments . funding for the acquisition came from available cash on hand . assets acquired include full-line corrugated products and sheet feeder operations in both mcclellan , california and kingsburg , california . sacramento container provides packaging solutions to customers serving portions of california 2019s strong agricultural market . sacramento container 2019s financial results are included in the packaging segment from the date of acquisition . the company accounted for the sacramento container acquisition using the acquisition method of accounting in accordance with asc 805 , business combinations . the total purchase price has been allocated to tangible and intangible assets acquired and liabilities assumed based on respective fair values , as follows ( dollars in millions ) : .
||12/31/17 allocation|adjustments|revised allocation|
|goodwill|$ 151.1|$ 5.5|$ 156.6|
|other intangible assets|72.6|-5.5 ( 5.5 )|67.1|
|property plant and equipment|26.7|2014|26.7|
|other net assets|23.4|2014|23.4|
|net assets acquired|$ 273.8|$ 2014|$ 273.8|
during the second quarter ended june 30 , 2018 , we made a $ 5.5 million net adjustment based on the final valuation of the intangible assets . we recorded the adjustment as a decrease to other intangible assets with an offset to goodwill . goodwill is calculated as the excess of the purchase price over the fair value of the net assets acquired . among the factors that contributed to the recognition of goodwill were sacramento container 2019s commitment to continuous improvement and regional synergies , as well as the expected increases in pca 2019s containerboard integration levels . goodwill is deductible for tax purposes . other intangible assets , primarily customer relationships , were assigned an estimated weighted average useful life of 9.6 years . property , plant and equipment were assigned estimated useful lives ranging from one to 13 years. .
Question: what percentage of the revised allocation of net assets acquired is property , plant and equipment? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.01285 | Context:kimco realty corporation and subsidiaries notes to consolidated financial statements , continued uncertain tax positions : the company is subject to income tax in certain jurisdictions outside the u.s. , principally canada and mexico . the statute of limitations on assessment of tax varies from three to seven years depending on the jurisdiction and tax issue . tax returns filed in each jurisdiction are subject to examination by local tax authorities . the company is currently under audit by the canadian revenue agency , mexican tax authority and the u.s . internal revenue service ( 201cirs 201d ) . in october 2011 , the irs issued a notice of proposed adjustment , which proposes pursuant to section 482 of the code , to disallow a capital loss claimed by krs on the disposition of common shares of valad property ltd. , an australian publicly listed company . because the adjustment is being made pursuant to section 482 of the code , the irs believes it can assert a 100 percent 201cpenalty 201d tax pursuant to section 857 ( b ) ( 7 ) of the code and disallow the capital loss deduction . the notice of proposed adjustment indicates the irs 2019 intention to impose the 100 percent 201cpenalty 201d tax on the company in the amount of $ 40.9 million and disallowing the capital loss claimed by krs . the company and its outside counsel have considered the irs 2019 assessment and believe that there is sufficient documentation establishing a valid business purpose for the transfer , including recent case history showing support for similar positions . accordingly , the company strongly disagrees with the irs 2019 position on the application of section 482 of the code to the disposition of the shares , the imposition of the 100 percent penalty tax and the simultaneous assertion of the penalty tax and disallowance of the capital loss deduction . the company received a notice of proposed assessment and filed a written protest and requested an irs appeals office conference . an appeals hearing was attended by management and its attorneys , the irs compliance group and an irs appeals officer in november , 2014 , at which time irs compliance presented arguments in support of their position , as noted herein . management and its attorneys presented rebuttal arguments in support of its position . the matter is currently under consideration by the appeals officer . the company intends to vigorously defend its position in this matter and believes it will prevail . resolutions of these audits are not expected to have a material effect on the company 2019s financial statements . during 2013 , the company early adopted asu 2013-11 prospectively and reclassified a portion of its reserve for uncertain tax positions . the reserve for uncertain tax positions included amounts related to the company 2019s canadian operations . the company has unrecognized tax benefits reported as deferred tax assets and are available to settle adjustments made with respect to the company 2019s uncertain tax positions in canada . the company reduced its reserve for uncertain tax positions by $ 12.3 million associated with its canadian operations and reduced its deferred tax assets in accordance with asu 2013-11 . the company does not believe that the total amount of unrecognized tax benefits as of december 31 , 2014 , will significantly increase or decrease within the next 12 months . as of december 31 , 2014 , the company 2019s canadian uncertain tax positions , which reduce its deferred tax assets , aggregated $ 10.4 million . the liability for uncertain tax benefits principally consists of estimated foreign , federal and state income tax liabilities in years for which the statute of limitations is open . open years range from 2008 through 2014 and vary by jurisdiction and issue . the aggregate changes in the balance of unrecognized tax benefits for the years ended december 31 , 2014 and 2013 were as follows ( in thousands ) : .
||201 4|2013|
|balance beginning of year|$ 4590|$ 16890|
|increases for tax positions related to current year|59|15|
|reduction due to adoption of asu 2013-11 ( a )|-|-12315 ( 12315 )|
|balance end of year|$ 4649|$ 4590|
( a ) this amount was reclassified against the related deferred tax asset relating to the company 2019s early adoption of asu 2013-11 as discussed above. .
Question: what is the percentage change in the balance unrecognized tax benefits 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: |
0.89889 | Context:commitments . for a further description of the loan loss reserve and related accounts , see 201cmanaging global risk 201d and notes 1 and 18 to the consolidated financial statements on pages 51 , 122 and 165 , respectively . securitizations the company securitizes a number of different asset classes as a means of strengthening its balance sheet and accessing competitive financing rates in the market . under these securitization programs , assets are sold into a trust and used as collateral by the trust to obtain financing . the cash flows from assets in the trust service the corresponding trust securities . if the structure of the trust meets certain accounting guidelines , trust assets are treated as sold and are no longer reflected as assets of the company . if these guidelines are not met , the assets continue to be recorded as the company 2019s assets , with the financing activity recorded as liabilities on citigroup 2019s balance sheet . citigroup also assists its clients in securitizing their financial assets and packages and securitizes financial assets purchased in the financial markets . the company may also provide administrative , asset management , underwriting , liquidity facilities and/or other services to the resulting securitization entities and may continue to service some of these financial assets . elimination of qspes and changes in the fin 46 ( r ) consolidation model the fasb has issued an exposure draft of a proposed standard that would eliminate qualifying special purpose entities ( qspes ) from the guidance in fasb statement no . 140 , accounting for transfers and servicing of financial assets and extinguishments of liabilities ( sfas 140 ) . while the proposed standard has not been finalized , if it is issued in its current form it will have a significant impact on citigroup 2019s consolidated financial statements as the company will lose sales treatment for certain assets previously sold to a qspe , as well as for certain future sales , and for certain transfers of portions of assets that do not meet the proposed definition of 201cparticipating interests . 201d this proposed revision could become effective on january 1 , 2010 . in connection with the proposed changes to sfas 140 , the fasb has also issued a separate exposure draft of a proposed standard that proposes three key changes to the consolidation model in fasb interpretation no . 46 ( revised december 2003 ) , 201cconsolidation of variable interest entities 201d ( fin 46 ( r ) ) . first , the revised standard would include former qspes in the scope of fin 46 ( r ) . in addition , fin 46 ( r ) would be amended to change the method of analyzing which party to a variable interest entity ( vie ) should consolidate the vie ( such consolidating entity is referred to as the 201cprimary beneficiary 201d ) to a qualitative determination of power combined with benefits or losses instead of the current risks and rewards model . finally , the proposed standard would require that the analysis of primary beneficiaries be re-evaluated whenever circumstances change . the existing standard requires reconsideration only when specified reconsideration events occur . the fasb is currently deliberating these proposed standards , and they are , accordingly , still subject to change . since qspes will likely be eliminated from sfas 140 and thus become subject to fin 46 ( r ) consolidation guidance and because the fin 46 ( r ) method of determining which party must consolidate a vie will likely change should this proposed standard become effective , the company expects to consolidate certain of the currently unconsolidated vies and qspes with which citigroup was involved as of december 31 , 2008 . the company 2019s estimate of the incremental impact of adopting these changes on citigroup 2019s consolidated balance sheets and risk-weighted assets , based on december 31 , 2008 balances , our understanding of the proposed changes to the standards and a proposed january 1 , 2010 effective date , is presented below . the actual impact of adopting the amended standards as of january 1 , 2010 could materially differ . the pro forma impact of the proposed changes on gaap assets and risk- weighted assets , assuming application of existing risk-based capital rules , at january 1 , 2010 ( based on the balances at december 31 , 2008 ) would result in the consolidation of incremental assets as follows: .
|in billions of dollars|incremental gaap assets|incremental risk- weighted assets|
|credit cards|$ 91.9|$ 88.9|
|commercial paper conduits|59.6|2014|
|private label consumer mortgages|4.4|2.1|
|student loans|14.4|3.5|
|muni bonds|6.2|1.9|
|mutual fund deferred sales commission securitization|0.8|0.8|
|investment funds|1.7|1.7|
|total|$ 179.0|$ 98.9|
the table reflects ( i ) the estimated portion of the assets of qspes to which citigroup , acting as principal , has transferred assets and received sales treatment as of december 31 , 2008 ( totaling approximately $ 822.1 billion ) , and ( ii ) the estimated assets of significant unconsolidated vies as of december 31 , 2008 with which citigroup is involved ( totaling approximately $ 288.0 billion ) that would be consolidated under the proposal . due to the variety of transaction structures and level of the company 2019s involvement in individual qspes and vies , only a subset of the qspes and vies with which the company is involved are expected to be consolidated under the proposed change . a complete description of the company 2019s accounting for securitized assets can be found in note 1 to the consolidated financial statements on page 122. .
Question: what percentage of incremental risk-weighted assets are credit cards at january 1 , 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: |
0.19473 | Context:management 2019s discussion and analysis of financial condition and results of operations ( continued ) detail with respect to our investment portfolio as of december 31 , 2014 and 2013 is provided in note 3 to the consolidated financial statements included under item 8 of this form 10-k . loans and leases averaged $ 15.91 billion for the year ended 2014 , up from $ 13.78 billion in 2013 . the increase was mainly related to mutual fund lending and our continued investment in senior secured bank loans . mutual fund lending and senior secured bank loans averaged approximately $ 9.12 billion and $ 1.40 billion , respectively , for the year ended december 31 , 2014 compared to $ 8.16 billion and $ 170 million for the year ended december 31 , 2013 , respectively . average loans and leases also include short- duration advances . table 13 : u.s . and non-u.s . short-duration advances years ended december 31 .
|( in millions )|2014|2013|2012|
|average u.s . short-duration advances|$ 2355|$ 2356|$ 1972|
|average non-u.s . short-duration advances|1512|1393|1393|
|average total short-duration advances|$ 3867|$ 3749|$ 3365|
|average short-durance advances to average loans and leases|24% ( 24 % )|27% ( 27 % )|29% ( 29 % )|
average u.s . short-duration advances $ 2355 $ 2356 $ 1972 average non-u.s . short-duration advances 1512 1393 1393 average total short-duration advances $ 3867 $ 3749 $ 3365 average short-durance advances to average loans and leases 24% ( 24 % ) 27% ( 27 % ) 29% ( 29 % ) the decline in proportion of the average daily short-duration advances to average loans and leases is primarily due to growth in the other segments of the loan and lease portfolio . short-duration advances provide liquidity to clients in support of their investment activities . although average short-duration advances for the year ended december 31 , 2014 increased compared to the year ended december 31 , 2013 , such average advances remained low relative to historical levels , mainly the result of clients continuing to hold higher levels of liquidity . average other interest-earning assets increased to $ 15.94 billion for the year ended december 31 , 2014 from $ 11.16 billion for the year ended december 31 , 2013 . the increased levels were primarily the result of higher levels of cash collateral provided in connection with our enhanced custody business . aggregate average interest-bearing deposits increased to $ 130.30 billion for the year ended december 31 , 2014 from $ 109.25 billion for year ended 2013 . the higher levels were primarily the result of increases in both u.s . and non-u.s . transaction accounts and time deposits . future transaction account levels will be influenced by the underlying asset servicing business , as well as market conditions , including the general levels of u.s . and non-u.s . interest rates . average other short-term borrowings increased to $ 4.18 billion for the year ended december 31 , 2014 from $ 3.79 billion for the year ended 2013 . the increase was the result of a higher level of client demand for our commercial paper . the decline in rates paid from 1.6% ( 1.6 % ) in 2013 to 0.1% ( 0.1 % ) in 2014 resulted from a reclassification of certain derivative contracts that hedge our interest-rate risk on certain assets and liabilities , which reduced interest revenue and interest expense . average long-term debt increased to $ 9.31 billion for the year ended december 31 , 2014 from $ 8.42 billion for the year ended december 31 , 2013 . the increase primarily reflected the issuance of $ 1.5 billion of senior and subordinated debt in may 2013 , $ 1.0 billion of senior debt issued in november 2013 , and $ 1.0 billion of senior debt issued in december 2014 . this is partially offset by the maturities of $ 500 million of senior debt in may 2014 and $ 250 million of senior debt in march 2014 . average other interest-bearing liabilities increased to $ 7.35 billion for the year ended december 31 , 2014 from $ 6.46 billion for the year ended december 31 , 2013 , primarily the result of higher levels of cash collateral received from clients in connection with our enhanced custody business . several factors could affect future levels of our net interest revenue and margin , including the mix of client liabilities ; actions of various central banks ; changes in u.s . and non-u.s . interest rates ; changes in the various yield curves around the world ; revised or proposed regulatory capital or liquidity standards , or interpretations of those standards ; the amount of discount accretion generated by the former conduit securities that remain in our investment securities portfolio ; and the yields earned on securities purchased compared to the yields earned on securities sold or matured . based on market conditions and other factors , we continue to reinvest the majority of the proceeds from pay-downs and maturities of investment securities in highly-rated securities , such as u.s . treasury and agency securities , municipal securities , federal agency mortgage-backed securities and u.s . and non-u.s . mortgage- and asset-backed securities . the pace at which we continue to reinvest and the types of investment securities purchased will depend on the impact of market conditions and other factors over time . we expect these factors and the levels of global interest rates to influence what effect our reinvestment program will have on future levels of our net interest revenue and net interest margin. .
Question: what is the percent change in average u.s . short-duration advances between 2012 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: |
0.43168 | Context:consume significant amounts of energy , and we may in the future incur additional or increased capital , operating and other expenditures from changes due to new or increased climate-related and other environmental regulations . we could also incur substantial liabilities , including fines or sanctions , enforcement actions , natural resource damages claims , cleanup and closure costs , and third-party claims for property damage and personal injury under environmental and common laws . the foreign corrupt practices act of 1977 and local anti-bribery laws , including those in brazil , china , mexico , india and the united kingdom ( where we maintain operations directly or through a joint venture ) , prohibit companies and their intermediaries from making improper payments to government officials for the purpose of influencing official decisions . our internal control policies and procedures , or those of our vendors , may not adequately protect us from reckless or criminal acts committed or alleged to have been committed by our employees , agents or vendors . any such violations could lead to civil or criminal monetary and non-monetary penalties and/or could damage our reputation . we are subject to a number of labor and employment laws and regulations that could significantly increase our operating costs and reduce our operational flexibility . additionally , changing privacy laws in the united states ( including the california consumer privacy act , which will become effective in january 2020 ) , europe ( where the general data protection regulation became effective in 2018 ) and elsewhere have created new individual privacy rights , imposed increased obligations on companies handling personal data and increased potential exposure to fines and penalties . item 1b . unresolved staff comments there are no unresolved sec staff comments . item 2 . properties we operate locations in north america , including the majority of u.s . states , south america , europe , asia and australia . we lease our principal offices in atlanta , ga . we believe that our existing production capacity is adequate to serve existing demand for our products and consider our plants and equipment to be in good condition . our corporate and operating facilities as of september 30 , 2019 are summarized below: .
|segment|number of facilities owned|number of facilities leased|number of facilities total|
|corrugated packaging|112|61|173|
|consumer packaging|84|55|139|
|corporate and significant regional offices|2014|10|10|
|total|196|126|322|
the tables that follow show our annual production capacity by mill at september 30 , 2019 in thousands of tons , except for the north charleston , sc mill which reflects our capacity after the previously announced machine closure expected to occur in fiscal 2020 . our mill system production levels and operating rates may vary from year to year due to changes in market and other factors , including the impact of hurricanes and other weather-related events . our simple average mill system operating rates for the last three years averaged 94% ( 94 % ) . we own all of our mills. .
Question: what percent of facilities are for consumer packaging? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-0.33401 | Context:gain on previously held equity interest on 30 december 2014 , we acquired our partner 2019s equity ownership interest in a liquefied atmospheric industrial gases production joint venture in north america for $ 22.6 , which increased our ownership from 50% ( 50 % ) to 100% ( 100 % ) . the transaction was accounted for as a business combination , and subsequent to the acquisition , the results were consolidated within our industrial gases 2013 americas segment . we recorded a gain of $ 17.9 ( $ 11.2 after-tax , or $ .05 per share ) as a result of revaluing our previously held equity interest to fair value as of the acquisition date . refer to note 6 , business combination , to the consolidated financial statements for additional details . other income ( expense ) , net items recorded to other income ( expense ) , net arise from transactions and events not directly related to our principal income earning activities . the detail of other income ( expense ) , net is presented in note 23 , supplemental information , to the consolidated financial statements . 2017 vs . 2016 other income ( expense ) , net of $ 121.0 increased $ 71.6 , primarily due to income from transition services agreements with versum and evonik , income from the sale of assets and investments , including a gain of $ 12.2 ( $ 7.6 after-tax , or $ .03 per share ) resulting from the sale of a parcel of land , and a favorable foreign exchange impact . 2016 vs . 2015 other income ( expense ) , net of $ 49.4 increased $ 3.9 , primarily due to lower foreign exchange losses , favorable contract settlements , and receipt of a government subsidy . fiscal year 2015 included a gain of $ 33.6 ( $ 28.3 after tax , or $ .13 per share ) resulting from the sale of two parcels of land . no other individual items were significant in comparison to fiscal year 2015 . interest expense .
||2017|2016|2015|
|interest incurred|$ 139.6|$ 147.9|$ 151.9|
|less : capitalized interest|19.0|32.7|49.1|
|interest expense|$ 120.6|$ 115.2|$ 102.8|
2017 vs . 2016 interest incurred decreased $ 8.3 as the impact from a lower average debt balance of $ 26 was partially offset by the impact from a higher average interest rate on the debt portfolio of $ 19 . the change in capitalized interest was driven by a decrease in the carrying value of projects under construction , primarily as a result of our decision to exit from the energy-from-waste business . 2016 vs . 2015 interest incurred decreased $ 4.0 . the decrease primarily resulted from a stronger u.s . dollar on the translation of foreign currency interest of $ 6 , partially offset by a higher average debt balance of $ 2 . the change in capitalized interest was driven by a decrease in the carrying value of projects under construction , primarily as a result of our exit from the energy-from-waste business . other non-operating income ( expense ) , net other non-operating income ( expense ) , net of $ 29.0 in fiscal year 2017 primarily resulted from interest income on cash and time deposits , which are comprised primarily of proceeds from the sale of pmd . interest income was included in "other income ( expense ) , net" in 2016 and 2015 . interest income in previous periods was not material . loss on extinguishment of debt on 30 september 2016 , in anticipation of the spin-off of emd , versum issued $ 425.0 of notes to air products , who then exchanged these notes with certain financial institutions for $ 418.3 of air products 2019 outstanding commercial paper . this noncash exchange , which was excluded from the consolidated statements of cash flows , resulted in a loss of $ 6.9 ( $ 4.3 after-tax , or $ .02 per share ) . in september 2015 , we made a payment of $ 146.6 to redeem 3000000 unidades de fomento ( 201cuf 201d ) series e 6.30% ( 6.30 % ) bonds due 22 january 2030 that had a carrying value of $ 130.0 and resulted in a net loss of $ 16.6 ( $ 14.2 after-tax , or $ .07 per share ) . .
Question: what is the decrease observed in the capitalized interest during 2015 and 2016? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
7.3 | Context:capital resources and liquidity capital resources overview capital has historically been generated by earnings from citi 2019s operating businesses . citi may also augment its capital through issuances of common stock , convertible preferred stock , preferred stock , equity issued through awards under employee benefit plans , and , in the case of regulatory capital , through the issuance of subordinated debt underlying trust preferred securities . in addition , the impact of future events on citi 2019s business results , such as corporate and asset dispositions , as well as changes in accounting standards , also affect citi 2019s capital levels . generally , capital is used primarily to support assets in citi 2019s businesses and to absorb market , credit , or operational losses . while capital may be used for other purposes , such as to pay dividends or repurchase common stock , citi 2019s ability to utilize its capital for these purposes is currently restricted due to its agreements with the u.s . government , generally for so long as the u.s . government continues to hold citi 2019s common stock or trust preferred securities . see also 201csupervision and regulation 201d below . citigroup 2019s capital management framework is designed to ensure that citigroup and its principal subsidiaries maintain sufficient capital consistent with citi 2019s risk profile and all applicable regulatory standards and guidelines , as well as external rating agency considerations . the capital management process is centrally overseen by senior management and is reviewed at the consolidated , legal entity , and country level . senior management is responsible for the capital management process mainly through citigroup 2019s finance and asset and liability committee ( finalco ) , with oversight from the risk management and finance committee of citigroup 2019s board of directors . the finalco is composed of the senior-most management of citigroup for the purpose of engaging management in decision-making and related discussions on capital and liquidity matters . among other things , finalco 2019s responsibilities include : determining the financial structure of citigroup and its principal subsidiaries ; ensuring that citigroup and its regulated entities are adequately capitalized in consultation with its regulators ; determining appropriate asset levels and return hurdles for citigroup and individual businesses ; reviewing the funding and capital markets plan for citigroup ; and monitoring interest rate risk , corporate and bank liquidity , and the impact of currency translation on non-u.s . earnings and capital . capital ratios citigroup is subject to the risk-based capital guidelines issued by the federal reserve board . historically , capital adequacy has been measured , in part , based on two risk-based capital ratios , the tier 1 capital and total capital ( tier 1 capital + tier 2 capital ) ratios . tier 1 capital consists of the sum of 201ccore capital elements , 201d such as qualifying common stockholders 2019 equity , as adjusted , qualifying noncontrolling interests , and qualifying mandatorily redeemable securities of subsidiary trusts , principally reduced by goodwill , other disallowed intangible assets , and disallowed deferred tax assets . total capital also includes 201csupplementary 201d tier 2 capital elements , such as qualifying subordinated debt and a limited portion of the allowance for credit losses . both measures of capital adequacy are stated as a percentage of risk-weighted assets . further , in conjunction with the conduct of the 2009 supervisory capital assessment program ( scap ) , u.s . banking regulators developed a new measure of capital termed 201ctier 1 common , 201d which has been defined as tier 1 capital less non-common elements , including qualifying perpetual preferred stock , qualifying noncontrolling interests , and qualifying mandatorily redeemable securities of subsidiary trusts . citigroup 2019s risk-weighted assets are principally derived from application of the risk-based capital guidelines related to the measurement of credit risk . pursuant to these guidelines , on-balance-sheet assets and the credit equivalent amount of certain off-balance-sheet exposures ( such as financial guarantees , unfunded lending commitments , letters of credit , and derivatives ) are assigned to one of several prescribed risk-weight categories based upon the perceived credit risk associated with the obligor , or if relevant , the guarantor , the nature of the collateral , or external credit ratings . risk-weighted assets also incorporate a measure for market risk on covered trading account positions and all foreign exchange and commodity positions whether or not carried in the trading account . excluded from risk-weighted assets are any assets , such as goodwill and deferred tax assets , to the extent required to be deducted from regulatory capital . see 201ccomponents of capital under regulatory guidelines 201d below . citigroup is also subject to a leverage ratio requirement , a non-risk-based measure of capital adequacy , which is defined as tier 1 capital as a percentage of quarterly adjusted average total assets . to be 201cwell capitalized 201d under federal bank regulatory agency definitions , a bank holding company must have a tier 1 capital ratio of at least 6% ( 6 % ) , a total capital ratio of at least 10% ( 10 % ) , and a leverage ratio of at least 3% ( 3 % ) , and not be subject to a federal reserve board directive to maintain higher capital levels . the following table sets forth citigroup 2019s regulatory capital ratios as of december 31 , 2009 and december 31 , 2008 . citigroup regulatory capital ratios .
|at year end|2009|2008|
|tier 1 common|9.60% ( 9.60 % )|2.30% ( 2.30 % )|
|tier 1 capital|11.67|11.92|
|total capital ( tier 1 capital and tier 2 capital )|15.25|15.70|
|leverage|6.89|6.08|
as noted in the table above , citigroup was 201cwell capitalized 201d under the federal bank regulatory agency definitions at year end for both 2009 and 2008. .
Question: what was the change in tier 1 common ratio between 2008 and 2009? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
59.50667 | Context:to determine stock-based compensation expense , the grant- date fair value is applied to the options granted with a reduction for estimated forfeitures . we recognize compensation expense for stock options on a straight-line basis over the pro rata vesting period . at december 31 , 2011 and 2010 , options for 12337000 and 13397000 shares of common stock were exercisable at a weighted-average price of $ 106.08 and $ 118.21 , respectively . the total intrinsic value of options exercised during 2012 , 2011 and 2010 was $ 37 million , $ 4 million and $ 5 million . cash received from option exercises under all incentive plans for 2012 , 2011 and 2010 was approximately $ 118 million , $ 41 million and $ 15 million , respectively . the actual tax benefit realized for tax deduction purposes from option exercises under all incentive plans for 2012 , 2011 and 2010 was approximately $ 41 million , $ 14 million and $ 5 million , respectively . there were no options granted in excess of market value in 2012 , 2011 or 2010 . shares of common stock available during the next year for the granting of options and other awards under the incentive plans were 29192854 at december 31 , 2012 . total shares of pnc common stock authorized for future issuance under equity compensation plans totaled 30537674 shares at december 31 , 2012 , which includes shares available for issuance under the incentive plans and the employee stock purchase plan ( espp ) as described below . during 2012 , we issued approximately 1.7 million shares from treasury stock in connection with stock option exercise activity . as with past exercise activity , we currently intend to utilize primarily treasury stock for any future stock option exercises . awards granted to non-employee directors in 2012 , 2011 and 2010 include 25620 , 27090 and 29040 deferred stock units , respectively , awarded under the outside directors deferred stock unit plan . a deferred stock unit is a phantom share of our common stock , which requires liability accounting treatment until such awards are paid to the participants as cash . as there are no vesting or service requirements on these awards , total compensation expense is recognized in full on awarded deferred stock units on the date of grant . incentive/performance unit share awards and restricted stock/unit awards the fair value of nonvested incentive/performance unit share awards and restricted stock/unit awards is initially determined based on prices not less than the market value of our common stock price on the date of grant . the value of certain incentive/ performance unit share awards is subsequently remeasured based on the achievement of one or more financial and other performance goals generally over a three-year period . the personnel and compensation committee of the board of directors approves the final award payout with respect to incentive/performance unit share awards . restricted stock/unit awards have various vesting periods generally ranging from 36 months to 60 months . beginning in 2012 , we incorporated several risk-related performance changes to certain incentive compensation programs . in addition to achieving certain financial performance metrics relative to our peers , the final payout amount will be subject to a negative adjustment if pnc fails to meet certain risk-related performance metrics as specified in the award agreement . however , the p&cc has the discretion to reduce any or all of this negative adjustment under certain circumstances . these awards have a three-year performance period and are payable in either stock or a combination of stock and cash . additionally , performance-based restricted share units were granted in 2012 to certain of our executives in lieu of stock options , with generally the same terms and conditions as the 2011 awards of the same . the weighted-average grant-date fair value of incentive/ performance unit share awards and restricted stock/unit awards granted in 2012 , 2011 and 2010 was $ 60.68 , $ 63.25 and $ 54.59 per share , respectively . we recognize compensation expense for such awards ratably over the corresponding vesting and/or performance periods for each type of program . table 130 : nonvested incentive/performance unit share awards and restricted stock/unit awards 2013 rollforward shares in thousands nonvested incentive/ performance unit shares weighted- average date fair nonvested restricted stock/ shares weighted- average date fair .
|shares in thousands december 31 2011|nonvested incentive/ performance unit shares 830|weighted-averagegrantdate fairvalue $ 61.68|nonvested restricted stock/ unit shares 2512|weighted-averagegrantdate fairvalue $ 54.87|
|granted|465|60.70|1534|60.67|
|vested|-100 ( 100 )|64.21|-831 ( 831 )|45.47|
|forfeited|-76 ( 76 )|60.27|-154 ( 154 )|60.51|
|december 31 2012|1119|$ 61.14|3061|$ 60.04|
in the chart above , the unit shares and related weighted- average grant-date fair value of the incentive/performance awards exclude the effect of dividends on the underlying shares , as those dividends will be paid in cash . at december 31 , 2012 , there was $ 86 million of unrecognized deferred compensation expense related to nonvested share- based compensation arrangements granted under the incentive plans . this cost is expected to be recognized as expense over a period of no longer than five years . the total fair value of incentive/performance unit share and restricted stock/unit awards vested during 2012 , 2011 and 2010 was approximately $ 55 million , $ 52 million and $ 39 million , respectively . the pnc financial services group , inc . 2013 form 10-k 203 .
Question: what was the average cost per unit for the weighted-average grant-date fair value of incentive/ performance unit share awards and restricted stock/unit awards granted in 2012 , 2011 and 2010? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-0.77187 | Context:between the actual return on plan assets compared to the expected return on plan assets ( u.s . pension plans had an actual rate of return of 7.8 percent compared to an expected rate of return of 6.9 percent ) . 2022 2015 net mark-to-market loss of $ 179 million - primarily due to the difference between the actual return on plan assets compared to the expected return on plan assets ( u.s . pension plans had an actual rate of return of ( 2.0 ) percent compared to an expected rate of return of 7.4 percent ) which was partially offset by higher discount rates at the end of 2015 compared to 2014 . the net mark-to-market losses were in the following results of operations line items: .
|( millions of dollars )|years ended december 31 , 2017|years ended december 31 , 2016|years ended december 31 , 2015|
|cost of goods sold|$ -29 ( 29 )|$ 476|$ 122|
|selling general and administrative expenses|244|382|18|
|research and development expenses|86|127|39|
|total|$ 301|$ 985|$ 179|
effective january 1 , 2018 , we adopted new accounting guidance issued by the fasb related to the presentation of net periodic pension and opeb costs . this guidance requires that an employer disaggregate the service cost component from the other components of net benefit cost . service cost is required to be reported in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period . the other components of net benefit cost are required to be reported outside the subtotal for income from operations . as a result , components of pension and opeb costs , other than service costs , will be reclassified from operating costs to other income/expense . this change will be applied retrospectively to prior years . in the fourth quarter of 2017 , the company reviewed and made changes to the mortality assumptions primarily for our u.s . pension plans which resulted in an overall increase in the life expectancy of plan participants . as of december 31 , 2017 these changes resulted in an increase in our liability for postemployment benefits of approximately $ 290 million . in the fourth quarter of 2016 , the company adopted new mortality improvement scales released by the soa for our u.s . pension and opeb plans . as of december 31 , 2016 , this resulted in an increase in our liability for postemployment benefits of approximately $ 200 million . in the first quarter of 2017 , we announced the closure of our gosselies , belgium facility . this announcement impacted certain employees that participated in a defined benefit pension plan and resulted in a curtailment and the recognition of termination benefits . in march 2017 , we recognized a net loss of $ 20 million for the curtailment and termination benefits . in addition , we announced the decision to phase out production at our aurora , illinois , facility , which resulted in termination benefits of $ 9 million for certain hourly employees that participate in our u.s . hourly defined benefit pension plan . beginning in 2016 , we elected to utilize a full yield curve approach in the estimation of service and interest costs by applying the specific spot rates along the yield curve used in the determination of the benefit obligation to the relevant projected cash flows . service and interest costs in 2017 and 2016 were lower by $ 140 million and $ 180 million , respectively , under the new method than they would have been under the previous method . this change had no impact on our year-end defined benefit pension and opeb obligations or our annual net periodic benefit cost as the lower service and interest costs were entirely offset in the actuarial loss ( gain ) reported for the respective year . we expect our total defined benefit pension and opeb expense ( excluding the impact of mark-to-market gains and losses ) to decrease approximately $ 80 million in 2018 . this decrease is primarily due to a higher expected return on plan assets as a result of a higher asset base in 2018 . in general , our strategy for both the u.s . and the non-u.s . pensions includes ongoing alignment of our investments to our liabilities , while reducing risk in our portfolio . for our u.s . pension plans , our year-end 2017 asset allocation was 34 a0percent equities , 62 a0percent fixed income and 4 percent other . our current u.s . pension target asset allocation is 30 percent equities and 70 percent fixed income . the target allocation is revisited periodically to ensure it reflects our overall objectives . the u.s . plans are rebalanced to plus or minus 5 percentage points of the target asset allocation ranges on a monthly basis . the year-end 2017 asset allocation for our non-u.s . pension plans was 40 a0percent equities , 53 a0percent fixed income , 4 a0percent real estate and 3 percent other . the 2017 weighted-average target allocations for our non-u.s . pension plans was 38 a0percent equities , 54 a0percent fixed income , 5 a0percent real estate and 3 a0percent other . the target allocations for each plan vary based upon local statutory requirements , demographics of the plan participants and funded status . the frequency of rebalancing for the non-u.s . plans varies depending on the plan . contributions to our pension and opeb plans were $ 1.6 billion and $ 329 million in 2017 and 2016 , respectively . the 2017 contributions include a $ 1.0 billion discretionary contribution made to our u.s . pension plans in december 2017 . we expect to make approximately $ 365 million of contributions to our pension and opeb plans in 2018 . we believe we have adequate resources to fund both pension and opeb plans . 48 | 2017 form 10-k .
Question: what is the expected growth rate in pension and opb contributions 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: |
931.0 | Context:results of operations 20142018 compared to 2017 net sales .
|( in millions )|years ended december 31 2018|years ended december 31 2017|years ended december 31 % ( % ) change|
|net sales from products and systems integration|$ 5100|$ 4513|13% ( 13 % )|
|net sales from services and software|2243|1867|20% ( 20 % )|
|net sales|$ 7343|$ 6380|15% ( 15 % )|
the products and systems integration segment 2019s net sales represented 69% ( 69 % ) of our consolidated net sales in 2018 , compared to 71% ( 71 % ) in 2017 . the services and software segment 2019s net sales represented 31% ( 31 % ) of our consolidated net sales in 2018 , compared to 29% ( 29 % ) in 2017 . net sales were up $ 963 million , or 15% ( 15 % ) , compared to 2017 . the increase in net sales was driven by the americas and emea with a 13% ( 13 % ) increase in the products and systems integration segment and a 20% ( 20 % ) increase in the services and software segment . this growth includes : 2022 $ 507 million of incremental revenue from the acquisitions of avigilon and plant in 2018 and kodiak networks and interexport which were acquired during 2017 ; 2022 $ 83 million from the adoption of accounting standards codification ( "asc" ) 606 ( see note 1 of our consolidated financial statements ) ; and 2022 $ 32 million from favorable currency rates . regional results include : 2022 the americas grew 17% ( 17 % ) across all products within both the products and systems integration and the services and software segments , inclusive of incremental revenue from acquisitions ; 2022 emea grew 18% ( 18 % ) on broad-based growth within all offerings within our products and systems integration and services and software segments , inclusive of incremental revenue from acquisitions ; and 2022 ap was relatively flat with growth in the services and software segment offset by lower products and systems integration revenue . products and systems integration the 13% ( 13 % ) growth in the products and systems integration segment was driven by the following : 2022 $ 318 million of incremental revenue from the acquisitions of avigilon in 2018 and interexport during 2017 ; 2022 $ 78 million from the adoption of asc 606 ; 2022 devices revenues were up significantly due to the acquisition of avigilon along with strong demand in the americas and emea ; and 2022 systems and systems integration revenues increased 10% ( 10 % ) in 2018 , as compared to 2017 driven by incremental revenue from avigilon , as well as system deployments in emea and ap . services and software the 20% ( 20 % ) growth in the services and software segment was driven by the following : 2022 $ 189 million of incremental revenue primarily from the acquisitions of plant and avigilon in 2018 and kodiak networks and interexport during 2017 ; 2022 $ 5 million from the adoption of asc 606 ; 2022 services were up $ 174 million , or 9% ( 9 % ) , driven by growth in both maintenance and managed service revenues , and incremental revenue from the acquisitions of interexport and plant ; and 2022 software was up $ 202 million , or 89% ( 89 % ) , driven primarily by incremental revenue from the acquisitions of plant , avigilon , and kodiak networks , and growth in our command center software suite. .
Question: without contributing favorable currency rates , what might the percentage increase of net sales be 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: |
0.08185 | Context:constitutes an event of default under our other debt instruments , including our senior notes , and , therefore , our senior notes would also be subject to acceleration of maturity . if such acceleration were to occur , we would not have sufficient liquidity available to repay the indebtedness . we would likely have to seek an amendment under our credit facilities for relief from the financial covenants or repay the debt with proceeds from the issuance of new debt or equity , or asset sales , if necessary . we may be unable to amend our credit facilities or raise sufficient capital to repay such obligations in the event the maturities are accelerated . 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 ( the 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 2014 , although the mix of financial assurance instruments may change . these financial 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 self-insurance liabilities as they are incurred . the underlying obligations of the financial assurance instruments , in excess of those already reflected in our consolidated balance sheets , would be recorded if it is probable that we would be unable to fulfill our related obligations . we do not expect this to occur . off-balance sheet arrangements we have no off-balance sheet debt or similar obligations , other than financial assurance instruments and operating leases , that are not classified as debt . we do not guarantee 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 . our free cash flow for the years ended december 31 , 2013 , 2012 and 2011 is calculated as follows ( in millions of dollars ) : .
||2013|2012|2011|
|cash provided by operating activities|$ 1548.2|$ 1513.8|$ 1766.7|
|purchases of property and equipment|-880.8 ( 880.8 )|-903.5 ( 903.5 )|-936.5 ( 936.5 )|
|proceeds from sales of property and equipment|23.9|28.7|34.6|
|free cash flow|$ 691.3|$ 639.0|$ 864.8|
.
Question: what was the percent of the growth in the free cash flow 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: |
0.01546 | Context:proved reserves can be added as expansions are permitted , funding is approved and certain stipulations of the joint venture agreement are satisfied . the following table sets forth changes in estimated quantities of net proved bitumen reserves for the year 2008 . estimated quantities of proved bitumen reserves ( millions of barrels ) 2008 .
|( millions of barrels )|2008|
|beginning of year|421|
|revisions ( a )|-30 ( 30 )|
|extensions discoveries and additions|6|
|production|-9 ( 9 )|
|end of year|388|
( a ) revisions were driven primarily by price and the impact of the new royalty regime discussed below . the above estimated quantity of net proved bitumen reserves is a forward-looking statement and is based on a number of assumptions , including ( among others ) commodity prices , volumes in-place , presently known physical data , recoverability of bitumen , industry economic conditions , levels of cash flow from operations , and other operating considerations . to the extent these assumptions prove inaccurate , actual recoveries could be different than current estimates . for a discussion of the proved bitumen reserves estimation process , see item 7 . management 2019s discussion and analysis of financial condition and results of operations 2013 critical accounting estimates 2013 estimated net recoverable reserve quantities 2013 proved bitumen reserves . operations at the aosp are not within the scope of statement of financial accounting standards ( 201csfas 201d ) no . 25 , 201csuspension of certain accounting requirements for oil and gas producing companies ( an amendment of financial accounting standards board ( 201cfasb 201d ) statement no . 19 ) , 201d sfas no . 69 , 201cdisclosures about oil and gas producing activities ( an amendment of fasb statements 19 , 25 , 33 and 39 ) , 201d and securities and exchange commission ( 201csec 201d ) rule 4-10 of regulation s-x ; therefore , bitumen production and reserves are not included in our supplementary information on oil and gas producing activities . the sec has recently issued a release amending these disclosure requirements effective for annual reports on form 10-k for fiscal years ending on or after december 31 , 2009 , see item 7 . management 2019s discussion and analysis of financial condition and results of operations 2013 accounting standards not yet adopted for additional information . prior to our acquisition of western , the first fully-integrated expansion of the existing aosp facilities was approved in 2006 . expansion 1 , which includes construction of mining and extraction facilities at the jackpine mine , expansion of treatment facilities at the existing muskeg river mine , expansion of the scotford upgrader and development of related infrastructure , is anticipated to begin operations in late 2010 or 2011 . when expansion 1 is complete , we will have more than 50000 bpd of net production and upgrading capacity in the canadian oil sands . the timing and scope of future expansions and debottlenecking opportunities on existing operations remain under review . during 2008 , the alberta government accepted the project 2019s application to have a portion of the expansion 1 capital costs form part of the muskeg river mine 2019s allowable cost recovery pool . due to commodity price declines in the year , royalties for 2008 were one percent of the gross mine revenue . commencing january 1 , 2009 , the alberta royalty regime has been amended such that royalty rates will be based on the canadian dollar ( 201ccad 201d ) equivalent monthly average west texas intermediate ( 201cwti 201d ) price . royalty rates will rise from a minimum of one percent to a maximum of nine percent under the gross revenue method and from a minimum of 25 percent to a maximum of 40 percent under the net revenue method . under both methods , the minimum royalty is based on a wti price of $ 55.00 cad per barrel and below while the maximum royalty is reached at a wti price of $ 120.00 cad per barrel and above , with a linear increase in royalty between the aforementioned prices . the above discussion of the oil sands mining segment includes forward-looking statements concerning the anticipated completion of aosp expansion 1 . factors which could affect the expansion project include transportation logistics , availability of materials and labor , unforeseen hazards such as weather conditions , delays in obtaining or conditions imposed by necessary government and third-party approvals and other risks customarily associated with construction projects . refining , marketing and transportation refining we own and operate seven refineries in the gulf coast , midwest and upper great plains regions of the united states with an aggregate refining capacity of 1.016 million barrels per day ( 201cmmbpd 201d ) of crude oil . during 2008 .
Question: what percent of ending reserves were due to extensions discoveries and additions? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.09637 | Context:do so , cme invests such contributions in assets that mirror the assumed investment choices . the balances in these plans are subject to the claims of general creditors of the exchange and totaled $ 38.7 million and $ 31.8 million at december 31 , 2012 and 2011 respectively . although the value of the plans is recorded as an asset in marketable securities in the consolidated balance sheets , there is an equal and offsetting liability . the investment results of these plans have no impact on net income as the investment results are recorded in equal amounts to both investment income and compensation and benefits expense . supplemental savings plan . cme maintains a supplemental plan to provide benefits for employees who have been impacted by statutory limits under the provisions of the qualified pension and savings plan . employees in this plan are subject to the vesting requirements of the underlying qualified plans . deferred compensation plan . a deferred compensation plan is maintained by cme , under which eligible officers and members of the board of directors may contribute a percentage of their compensation and defer income taxes thereon until the time of distribution . comex members 2019 retirement plan and benefits . comex maintains a retirement and benefit plan under the comex members 2019 recognition and retention plan ( mrrp ) . this plan provides benefits to certain members of the comex division based on long-term membership , and participation is limited to individuals who were comex division members prior to nymex 2019s acquisition of comex in 1994 . no new participants were permitted into the plan after the date of this acquisition . under the terms of the mrrp , the company is required to fund the plan with a minimum annual contribution of $ 0.8 million until it is fully funded . all benefits to be paid under the mrrp are based on reasonable actuarial assumptions which are based upon the amounts that are available and are expected to be available to pay benefits . total contributions to the plan were $ 0.8 million for each of 2010 through 2012 . at december 31 , 2012 and 2011 , the obligation for the mrrp totaled $ 22.7 million and $ 21.6 million , respectively . assets with a fair value of $ 18.4 million and $ 17.7 million have been allocated to this plan at december 31 , 2012 and 2011 , respectively , and are included in marketable securities and cash and cash equivalents in the consolidated balance sheets . the balances in these plans are subject to the claims of general creditors of comex . 13 . commitments operating leases . cme group has entered into various non-cancellable operating lease agreements , with the most significant being as follows : 2022 in april 2012 , the company sold two buildings in chicago at 141 w . jackson and leased back a portion of the property . the operating lease , which has an initial lease term ending on april 30 , 2027 , contains four consecutive renewal options for five years . 2022 in january 2011 , the company entered into an operating lease for office space in london . the initial lease term , which became effective on january 20 , 2011 , terminates on march 24 , 2026 , with an option to terminate without penalty in january 2021 . 2022 in july 2008 , the company renegotiated the operating lease for its headquarters at 20 south wacker drive in chicago . the lease , which has an initial term ending on november 30 , 2022 , contains two consecutive renewal options for seven and ten years and a contraction option which allows the company to reduce its occupied space after november 30 , 2018 . in addition , the company may exercise a lease expansion option in december 2017 . 2022 in august 2006 , the company entered into an operating lease for additional office space in chicago . the initial lease term , which became effective on august 10 , 2006 , terminates on november 30 , 2023 . the lease contains two 5-year renewal options beginning in 2023 . at december 31 , 2012 , future minimum payments under non-cancellable operating leases were payable as follows ( in millions ) : .
|2013|$ 28.7|
|2014|29.1|
|2015|28.9|
|2016|28.9|
|2017|29.3|
|thereafter|152.9|
|total|$ 297.8|
.
Question: what portion of the future minimum payments are due in 2013? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.17845 | 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 catlettsburg kentucky? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
3.0 | 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 was the fair value of the interest agreements at december 31 , 2007 to 2006 | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
99834.0 | Context:during the years ended december 31 , 2013 , 2012 , and 2011 , we recognized approximately $ 6.5 million , $ 5.1 million and $ 4.7 million of compensation expense , respectively , for these options . as of december 31 , 2013 , there was approximately $ 20.3 million of total unrecognized compensation cost related to unvested stock options , which is expected to be recognized over a weighted average period of three years . stock-based compensation effective january 1 , 1999 , we implemented a deferred compensation plan , or the deferred plan , covering certain of our employees , including our executives . the shares issued under the deferred plan were granted to certain employees , including our executives and vesting will occur annually upon the completion of a service period or our meeting established financial performance criteria . annual vesting occurs at rates ranging from 15% ( 15 % ) to 35% ( 35 % ) once performance criteria are reached . a summary of our restricted stock as of december 31 , 2013 , 2012 and 2011 and charges during the years then ended are presented below: .
||2013|2012|2011|
|balance at beginning of year|2804901|2912456|2728290|
|granted|192563|92729|185333|
|cancelled|-3267 ( 3267 )|-200284 ( 200284 )|-1167 ( 1167 )|
|balance at end of year|2994197|2804901|2912456|
|vested during the year|21074|408800|66299|
|compensation expense recorded|$ 6713155|$ 6930381|$ 17365401|
|weighted average fair value of restricted stock granted during the year|$ 17386949|$ 7023942|$ 21768084|
weighted average fair value of restricted stock granted during the year $ 17386949 $ 7023942 $ 21768084 the fair value of restricted stock that vested during the years ended december 31 , 2013 , 2012 and 2011 was $ 1.6 million , $ 22.4 million and $ 4.3 million , respectively . as of december 31 , 2013 , there was $ 17.8 million of total unrecognized compensation cost related to unvested restricted stock , which is expected to be recognized over a weighted average period of approximately 2.7 years . for the years ended december 31 , 2013 , 2012 and 2011 , approximately $ 4.5 million , $ 4.1 million and $ 3.4 million , respectively , was capitalized to assets associated with compensation expense related to our long-term compensation plans , restricted stock and stock options . we granted ltip units , which include bonus , time-based and performance based awards , with a fair value of $ 27.1 million , zero and $ 8.5 million as of 2013 , 2012 and 2011 , respectively . the grant date fair value of the ltip unit awards was calculated in accordance with asc 718 . a third party consultant determined the fair value of the ltip units to have a discount from sl green's common stock price . the discount was calculated by considering the inherent uncertainty that the ltip units will reach parity with other common partnership units and the illiquidity due to transfer restrictions . as of december 31 , 2013 , there was $ 5.0 million of total unrecognized compensation expense related to the time-based and performance based awards , which is expected to be recognized over a weighted average period of approximately 1.5 years . during the years ended december 31 , 2013 , 2012 and 2011 , we recorded compensation expense related to bonus , time-based and performance based awards of approximately $ 27.3 million , $ 12.6 million and $ 8.5 million , respectively . 2010 notional unit long-term compensation plan in december 2009 , the compensation committee of the company's board of directors approved the general terms of the sl green realty corp . 2010 notional unit long-term compensation program , or the 2010 long-term compensation plan . the 2010 long-term compensation plan is a long-term incentive compensation plan pursuant to which award recipients could earn , in the aggregate , from approximately $ 15.0 million up to approximately $ 75.0 million of ltip units in the operating partnership based on our stock price appreciation over three years beginning on december 1 , 2009 ; provided that , if maximum performance had been achieved , approximately $ 25.0 million of awards could be earned at any time after the beginning of the second year and an additional approximately $ 25.0 million of awards could be earned at any time after the beginning of the third year . in order to achieve maximum performance under the 2010 long-term compensation plan , our aggregate stock price appreciation during the performance period had to equal or exceed 50% ( 50 % ) . the compensation committee determined that maximum performance had been achieved at or shortly after the beginning of each of the second and third years of the performance period and for the full performance period and , accordingly , 366815 ltip units , 385583 ltip units and 327416 ltip units were earned under the 2010 long-term compensation plan in december 2010 , 2011 and 2012 , respectively . substantially in accordance with the original terms of the program , 50% ( 50 % ) of these ltip units vested on december 17 , 2012 ( accelerated from the original january 1 , 2013 vesting date ) , 25% ( 25 % ) of these ltip units vested on december 11 , 2013 ( accelerated from the original january 1 , 2014 vesting date ) and the remainder is scheduled to vest on january 1 , 2015 based on .
Question: what was the increase in the shares granted 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: |
-0.97027 | Context:stock performance graph the following graph compares the most recent five-year performance of alcoa 2019s common stock with ( 1 ) the standard & poor 2019s 500 ae index and ( 2 ) the standard & poor 2019s 500 ae materials index , a group of 27 companies categorized by standard & poor 2019s as active in the 201cmaterials 201d market sector . such information shall not be deemed to be 201cfiled . 201d five-year cumulative total return based upon an initial investment of $ 100 on december 31 , 2010 with dividends reinvested alcoa inc . s&p 500 ae index s&p 500 ae materials index dec-'10 dec-'11 dec-'12 dec-'14 dec-'15dec-'13 .
|as of december 31,|2010|2011|2012|2013|2014|2015|
|alcoainc .|$ 100|$ 57|$ 58|$ 72|$ 107|$ 68|
|s&p 500 aeindex|100|102|118|157|178|181|
|s&p 500 aematerials index|100|90|104|130|139|128|
s&p 500 ae index 100 102 118 157 178 181 s&p 500 ae materials index 100 90 104 130 139 128 copyright a9 2016 standard & poor 2019s , a division of the mcgraw-hill companies inc . all rights reserved . source : research data group , inc . ( www.researchdatagroup.com/s&p.htm ) .
Question: what is the estimated annualized return for the initial $ 100 investment in the s&p 500 aeindex? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
53.54879 | Context:discussion and analysis of financial condition and results of operations 2014liquidity and capital resources 2014 factors affecting sources of liquidity . 201d recent sales of unregistered securities during the year ended december 31 , 2005 , we issued an aggregate of 4670335 shares of our class a common stock upon conversion of $ 57.1 million principal amount of our 3.25% ( 3.25 % ) notes . pursuant to the terms of the indenture , the holders of the 3.25% ( 3.25 % ) notes received 81.808 shares of class a common stock for every $ 1000 principal amount of notes converted . the shares were issued to the noteholders in reliance on the exemption from registration set forth in section 3 ( a ) ( 9 ) of the securities act of 1933 , as amended . no underwriters were engaged in connection with such issuances . in connection with the conversion , we paid such holders an aggregate of $ 4.9 million , calculated based on the accrued and unpaid interest on the notes and the discounted value of the future interest payments on the notes . subsequent to december 31 , 2005 , we issued shares of class a common stock upon conversions of additional 3.25% ( 3.25 % ) notes , as set forth in item 9b of this annual report under the caption 201cother information . 201d during the year ended december 31 , 2005 , we issued an aggregate of 398412 shares of our class a common stock upon exercises of 55729 warrants assumed in our merger with spectrasite , inc . in august 2005 , in connection with our merger with spectrasite , inc. , we assumed approximately 1.0 million warrants to purchase shares of spectrasite , inc . common stock . upon completion of the merger , each warrant to purchase shares of spectrasite , inc . common stock automatically converted into a warrant to purchase 7.15 shares of class a common stock at an exercise price of $ 32 per warrant . net proceeds from these warrant exercises were approximately $ 1.8 million . the shares of class a common stock issued to the warrantholders upon exercise of the warrants were issued in reliance on the exemption from registration set forth in section 3 ( a ) ( 9 ) of the securities act of 1933 , as amended . no underwriters were engaged in connection with such issuances . subsequent to december 31 , 2005 , we issued shares of class a common stock upon exercises of additional warrants , as set forth in item 9b of this annual report under the caption 201cother information . 201d issuer purchases of equity securities in november 2005 , we announced that our board of directors had approved a stock repurchase program pursuant to which we intend to repurchase up to $ 750.0 million of our class a common stock through december 2006 . during the fourth quarter of 2005 , we repurchased 2836519 shares of our class a common stock for an aggregate of $ 76.6 million pursuant to our stock repurchase program , 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 ( 1 ) 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 ( 1 )|approximate dollar value of shares that may yet be purchased under the plans or programs ( in millions )|
|11/17/05 2013 11/30/05|874306|$ 26.25|874306|$ 727.0|
|12/1/05 2013 12/31/05|1962213|$ 27.29|1962213|$ 673.4|
|total fourth quarter|2836519|$ 26.97|2836519|$ 673.4|
( 1 ) all issuer repurchases were made pursuant to the stock repurchase program publicly announced in november 2005 . pursuant to the program , we intend to repurchase up to $ 750.0 million of our class a common stock during the period november 2005 through december 2006 . under the program , our management is authorized to purchase shares from time to time in 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 entered into a trading plan under rule 10b5-1 of the securities exchange act of 1934 , which allows 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 . the program may be discontinued at any time . since december 31 , 2005 , we have continued to repurchase shares of our class a common stock pursuant to our stock repurchase program . between january 1 , 2006 and march 9 , 2006 , we repurchased 3.9 million shares of class a common stock for an aggregate of $ 117.4 million pursuant to the stock repurchase program. .
Question: what is the total amount of cash used for stock repurchase during december 2005 , 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: |
470.66667 | Context:goodwill is reviewed annually during the fourth quarter for impairment . in addition , the company performs an impairment analysis of other intangible assets based on the occurrence of other factors . such factors include , but are not limited to , signifi- cant changes in membership , state funding , medical contracts and provider networks and contracts . an impairment loss is rec- ognized if the carrying value of intangible assets exceeds the implied fair value . the company did not recognize any impair- ment losses for the periods presented . medical claims liabilities medical services costs include claims paid , claims reported but not yet paid ( inventory ) , estimates for claims incurred but not yet received ( ibnr ) and estimates for the costs necessary to process unpaid claims . the estimates of medical claims liabilities are developed using standard actuarial methods based upon historical data for payment patterns , cost trends , product mix , seasonality , utiliza- tion of healthcare services and other relevant factors including product changes . these estimates are continually reviewed and adjustments , if necessary , are reflected in the period known . management did not change actuarial methods during the years presented . management believes the amount of medical claims payable is reasonable and adequate to cover the company 2019s liabil- ity for unpaid claims as of december 31 , 2005 ; however , actual claim payments may differ from established estimates . revenue recognition the majority of the company 2019s medicaid managed care premi- um revenue is received monthly based on fixed rates per member as determined by state contracts . some contracts allow for addi- tional premium related to certain supplemental services provided such as maternity deliveries . revenue is recognized as earned over the covered period of services . revenues are recorded based on membership and eligibility data provided by the states , which may be adjusted by the states for updates to this membership and eligibility data . these adjustments are immaterial in relation to total revenue recorded and are reflected in the period known . premiums collected in advance are recorded as unearned revenue . the specialty services segment generates revenue under con- tracts with state and local government entities , our health plans and third-party customers . revenues for services are recognized when the services are provided or as ratably earned over the cov- ered period of services . for performance-based contracts , the company does not recognize revenue subject to refund until data is sufficient to measure performance . such amounts are recorded as unearned revenue . revenues due to the company are recorded as premium and related receivables and recorded net of an allowance for uncol- lectible accounts based on historical trends and management 2019s judgment on the collectibility of these accounts . activity in the allowance for uncollectible accounts for the years ended december 31 is summarized below: .
||2005|2004|2003|
|allowances beginning of year|$ 462|$ 607|$ 219|
|amounts charged to expense|80|407|472|
|write-offs of uncollectible receivables|-199 ( 199 )|-552 ( 552 )|-84 ( 84 )|
|allowances end of year|$ 343|$ 462|$ 607|
significant customers centene receives the majority of its revenues under contracts or subcontracts with state medicaid managed care programs . the contracts , which expire on various dates between june 30 , 2006 and august 31 , 2008 , are expected to be renewed . contracts with the states of indiana , kansas , texas and wisconsin each accounted for 18% ( 18 % ) , 12% ( 12 % ) , 22% ( 22 % ) and 23% ( 23 % ) , respectively , of the company 2019s revenues for the year ended december 31 , 2005 . reinsurance centene has purchased reinsurance from third parties to cover eligible healthcare services . the current reinsurance program covers 90% ( 90 % ) of inpatient healthcare expenses in excess of annual deductibles of $ 300 per member , up to a lifetime maximum of $ 2000 . centene 2019s medicaid managed care subsidiaries are respon- sible for inpatient charges in excess of an average daily per diem . reinsurance recoveries were $ 4014 , $ 3730 , and $ 5345 , in 2005 , 2004 , and 2003 , respectively . reinsurance expenses were approximately $ 4105 , $ 6724 , and $ 6185 in 2005 , 2004 , and 2003 , respectively . reinsurance recoveries , net of expenses , are included in medical costs . other income ( expense ) other income ( expense ) consists principally of investment income and interest expense . investment income is derived from the company 2019s cash , cash equivalents , restricted deposits and investments . interest expense relates to borrowings under our credit facility , mortgage interest , interest on capital leases and credit facility fees . income taxes deferred tax assets and liabilities are recorded for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases . deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled . the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date of the tax rate change . valuation allowances are provided when it is considered more likely than not that deferred tax assets will not be realized . in determining if a deductible temporary difference or net operating loss can be realized , the company considers future reversals of .
Question: what was the average 3 year balance in allowance for doubtful accounts , 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: |
-0.01 | Context:customers and products the foodservice industry consists of two major customer types 2014 2018 2018traditional 2019 2019 and 2018 2018chain restaurant . 2019 2019 traditional foodservice customers include restaurants , hospitals , schools , hotels and industrial caterers . sysco 2019s chain restaurant customers include regional and national hamburger , sandwich , pizza , chicken , steak and other chain operations . services to the company 2019s traditional foodservice and chain restaurant customers are supported by similar physical facilities , vehicles , material handling equipment and techniques , and administrative and operating staffs . products distributed by the company include a full line of frozen foods , such as meats , fully prepared entrees , fruits , vegetables and desserts ; a full line of canned and dry foods ; fresh meats ; imported specialties ; and fresh produce . the company also supplies a wide variety of non-food items , including : paper products such as disposable napkins , plates and cups ; tableware such as china and silverware ; cookware such as pots , pans and utensils ; restaurant and kitchen equipment and supplies ; and cleaning supplies . sysco 2019s operating companies distribute nationally-branded merchandise , as well as products packaged under sysco 2019s private brands . the company believes that prompt and accurate delivery of orders , close contact with customers and the ability to provide a full array of products and services to assist customers in their foodservice operations are of primary importance in the marketing and distribution of products to traditional customers . sysco 2019s operating companies offer daily delivery to certain customer locations and have the capability of delivering special orders on short notice . through the more than 13900 sales and marketing representatives and support staff of sysco and its operating companies , sysco stays informed of the needs of its customers and acquaints them with new products and services . sysco 2019s operating companies also provide ancillary services relating to foodservice distribution , such as providing customers with product usage reports and other data , menu-planning advice , food safety training and assistance in inventory control , as well as access to various third party services designed to add value to our customers 2019 businesses . no single customer accounted for 10% ( 10 % ) or more of sysco 2019s total sales for its fiscal year ended july 1 , 2006 . sysco 2019s sales to chain restaurant customers consist of a variety of food products . the company believes that consistent product quality and timely and accurate service are important factors in the selection of a chain restaurant supplier . one chain restaurant customer ( wendy 2019s international , inc. ) accounted for 5% ( 5 % ) of sysco 2019s sales for its fiscal year ended july 1 , 2006 . although this customer represents approximately 37% ( 37 % ) of the sygma segment sales , the company does not believe that the loss of this customer would have a material adverse effect on sysco as a whole . based upon available information , the company estimates that sales by type of customer during the past three fiscal years were as follows: .
|type of customer|2006|2005|2004|
|restaurants|63% ( 63 % )|64% ( 64 % )|64% ( 64 % )|
|hospitals and nursing homes|10|10|10|
|schools and colleges|5|5|5|
|hotels and motels|6|6|6|
|other|16|15|15|
|totals|100% ( 100 % )|100% ( 100 % )|100% ( 100 % )|
restaurants **************************************************************** 63% ( 63 % ) 64% ( 64 % ) 64% ( 64 % ) hospitals and nursing homes *************************************************** 10 10 10 schools and colleges ********************************************************* 5 5 5 hotels and motels *********************************************************** 6 6 6 other********************************************************************* 16 15 15 totals ****************************************************************** 100% ( 100 % ) 100% ( 100 % ) 100% ( 100 % ) sources of supply sysco purchases from thousands of suppliers , none of which individually accounts for more than 10% ( 10 % ) of the company 2019s purchases . these suppliers consist generally of large corporations selling brand name and private label merchandise and independent regional brand and private label processors and packers . generally , purchasing is carried out through centrally developed purchasing programs and direct purchasing programs established by the company 2019s various operating companies . the company continually develops relationships with suppliers but has no material long-term purchase commitments with any supplier . in the second quarter of fiscal 2002 , sysco began a project to restructure its supply chain ( national supply chain project ) . this project is intended to increase profitability by lowering aggregate inventory levels , operating costs , and future facility expansion needs at sysco 2019s broadline operating companies while providing greater value to our suppliers and customers . %%transmsg*** transmitting job : h39408 pcn : 004000000 *** %%pcmsg|2 |00010|yes|no|09/06/2006 17:07|0|1|page is valid , no graphics -- color : n| .
Question: what was the change in percentage sales to restaurants from 2005 to 2006? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.14534 | Context:as of december 31 , 2016 , we had total outstanding indebtedness of $ 18.7 billion , with a current portion of $ 238.8 million . during the year ended december 31 , 2016 , we generated sufficient cash flow from operations to fund our capital expenditures and debt service obligations , as well as our required distributions . we believe the cash generated by operating activities during the year ending december 31 , 2017 will be sufficient to fund our required distributions , capital expenditures , debt service obligations ( interest and principal repayments ) and signed acquisitions . as of december 31 , 2016 , we had $ 423.0 million of cash and cash equivalents held by our foreign subsidiaries , of which $ 183.9 million was held by our joint ventures . while certain subsidiaries may pay us interest or principal on intercompany debt , it has not been our practice to repatriate earnings from our foreign subsidiaries primarily due to our ongoing expansion efforts and related capital needs . however , in the event that we do repatriate any funds , we may be required to accrue and pay taxes . cash flows from operating activities for the year ended december 31 , 2016 , cash provided by operating activities increased $ 520.6 million as compared to the year ended december 31 , 2015 . the primary factors that impacted cash provided by operating activities as compared to the year ended december 31 , 2015 , include : 2022 an increase in our operating profit of $ 490.8 million ; 2022 an increase of approximately $ 67.1 million in cash paid for interest ; and 2022 a decrease of approximately $ 60.8 million in cash paid for taxes . for the year ended december 31 , 2015 , cash provided by operating activities increased $ 48.5 million as compared to the year ended december 31 , 2014 . the primary factors that impacted cash provided by operating activities as compared to the year ended december 31 , 2014 , include : 2022 an increase in our operating profit of $ 433.3 million ; 2022 an increase of approximately $ 87.8 million in cash paid for taxes , driven primarily by the mipt one-time cash tax charge of $ 93.0 million ; 2022 a decrease in capital contributions , tenant settlements and other prepayments of approximately $ 99.0 million ; 2022 an increase of approximately $ 29.9 million in cash paid for interest ; 2022 a decrease of approximately $ 34.9 million in termination and decommissioning fees ; 2022 a decrease of approximately $ 49.0 million in tenant receipts due to timing ; and 2022 a decrease due to the non-recurrence of a 2014 value added tax refund of approximately $ 60.3 million . cash flows from investing activities our significant investing activities during the year ended december 31 , 2016 are highlighted below : 2022 we spent approximately $ 1.1 billion for the viom acquisition . 2022 we spent $ 701.4 million for capital expenditures , as follows ( in millions ) : .
|discretionary capital projects ( 1 )|$ 149.7|
|ground lease purchases|153.3|
|capital improvements and corporate expenditures ( 2 )|126.7|
|redevelopment|147.4|
|start-up capital projects|124.3|
|total capital expenditures|$ 701.4|
_______________ ( 1 ) includes the construction of 1869 communications sites globally . ( 2 ) includes $ 18.9 million of capital lease payments included in repayments of notes payable , credit facilities , term loan , senior notes and capital leases in the cash flow from financing activities in our consolidated statement of cash flows . our significant investing transactions in 2015 included the following : 2022 we spent $ 5.059 billion for the verizon transaction . 2022 we spent $ 796.9 million for the acquisition of 5483 communications sites from tim in brazil . 2022 we spent $ 1.1 billion for the acquisition of 4716 communications sites from certain of airtel 2019s subsidiaries in nigeria. .
Question: as part of the acquisition of 5483 communications sites from tim in brazil what was the average price per site 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: |
26.0 | Context:to determine stock-based compensation expense , the grant date fair value is applied to the options granted with a reduction for estimated forfeitures . we recognize compensation expense for stock options on a straight-line basis over the specified vesting period . at december 31 , 2013 and 2012 , options for 10204000 and 12759000 shares of common stock were exercisable at a weighted-average price of $ 89.46 and $ 90.86 , respectively . the total intrinsic value of options exercised during 2014 , 2013 and 2012 was $ 90 million , $ 86 million and $ 37 million , respectively . cash received from option exercises under all incentive plans for 2014 , 2013 and 2012 was approximately $ 215 million , $ 208 million and $ 118 million , respectively . the tax benefit realized from option exercises under all incentive plans for 2014 , 2013 and 2012 was approximately $ 33 million , $ 31 million and $ 14 million , respectively . shares of common stock available during the next year for the granting of options and other awards under the incentive plans were 17997353 at december 31 , 2014 . total shares of pnc common stock authorized for future issuance under equity compensation plans totaled 19017057 shares at december 31 , 2014 , which includes shares available for issuance under the incentive plans and the employee stock purchase plan ( espp ) as described below . during 2014 , we issued approximately 2.4 million shares from treasury stock in connection with stock option exercise activity . as with past exercise activity , we currently intend to utilize primarily treasury stock for any future stock option exercises . awards granted to non-employee directors in 2014 , 2013 and 2012 include 21490 , 27076 and 25620 deferred stock units , respectively , awarded under the outside directors deferred stock unit plan . a deferred stock unit is a phantom share of our common stock , which is accounted for as a liability until such awards are paid to the participants in cash . as there are no vesting or service requirements on these awards , total compensation expense is recognized in full for these awards on the date of grant . incentive/performance unit share awards and restricted stock/share unit awards the fair value of nonvested incentive/performance unit share awards and restricted stock/share unit awards is initially determined based on prices not less than the market value of our common stock on the date of grant . the value of certain incentive/performance unit share awards is subsequently remeasured based on the achievement of one or more financial and other performance goals . the personnel and compensation committee ( 201cp&cc 201d ) of the board of directors approves the final award payout with respect to certain incentive/performance unit share awards . these awards have either a three-year or a four-year performance period and are payable in either stock or a combination of stock and cash . restricted stock/share unit awards have various vesting periods generally ranging from 3 years to 5 years . beginning in 2013 , we incorporated several enhanced risk- related performance changes to certain long-term incentive compensation programs . in addition to achieving certain financial performance metrics on both an absolute basis and relative to our peers , final payout amounts will be subject to reduction if pnc fails to meet certain risk-related performance metrics as specified in the award agreements . however , the p&cc has the discretion to waive any or all of this reduction under certain circumstances . the weighted-average grant date fair value of incentive/ performance unit share awards and restricted stock/unit awards granted in 2014 , 2013 and 2012 was $ 80.79 , $ 64.77 and $ 60.68 per share , respectively . the total fair value of incentive/performance unit share and restricted stock/unit awards vested during 2014 , 2013 and 2012 was approximately $ 119 million , $ 63 million and $ 55 million , respectively . we recognize compensation expense for such awards ratably over the corresponding vesting and/or performance periods for each type of program . table 121 : nonvested incentive/performance unit share awards and restricted stock/share unit awards 2013 rollforward shares in thousands nonvested incentive/ performance unit shares weighted- average grant date fair value nonvested restricted stock/ weighted- average grant date fair value .
|shares in thousands december 31 2013|nonvested incentive/ performance unit shares 1647|weighted-averagegrant datefair value $ 63.49|nonvested restricted stock/ share units 3483|weighted-averagegrant datefair value $ 62.70|
|granted|723|79.90|1276|81.29|
|vested/released|-513 ( 513 )|63.64|-962 ( 962 )|62.32|
|forfeited|-20 ( 20 )|69.18|-145 ( 145 )|69.44|
|december 31 2014|1837|$ 69.84|3652|$ 69.03|
the pnc financial services group , inc . 2013 form 10-k 185 .
Question: what was the approximate average , in millions , for the tax benefit realized from option exercises under all incentive plans for 2014 , 2013 and 2012? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.08333 | Context:mission systems and training our mst business segment provides ship and submarine mission and combat systems ; mission systems and sensors for rotary and fixed-wing aircraft ; sea and land-based missile defense systems ; radar systems ; littoral combat ships ; simulation and training services ; and unmanned systems and technologies . mst 2019s major programs include aegis combat system ( aegis ) , littoral combat ship ( lcs ) , mh-60 , tpq-53 radar system and mk-41 vertical launching system . mst 2019s operating results included the following ( in millions ) : .
||2014|2013|2012|
|net sales|$ 7147|$ 7153|$ 7579|
|operating profit|843|905|737|
|operating margins|11.8% ( 11.8 % )|12.7% ( 12.7 % )|9.7% ( 9.7 % )|
|backlog at year-end|$ 11700|$ 10800|$ 10700|
2014 compared to 2013 mst 2019s net sales for 2014 were comparable to 2013 . net sales decreased by approximately $ 85 million for undersea systems programs due to decreased volume and deliveries ; and about $ 55 million related to the settlements of contract cost matters on certain programs ( including a portion of the terminated presidential helicopter program ) in 2013 that were not repeated in 2014 . the decreases were offset by higher net sales of approximately $ 80 million for integrated warfare systems and sensors programs due to increased volume ( primarily space fence ) ; and approximately $ 40 million for training and logistics solutions programs due to increased deliveries ( primarily close combat tactical trainer ) . mst 2019s operating profit for 2014 decreased $ 62 million , or 7% ( 7 % ) , compared to 2013 . the decrease was primarily attributable to lower operating profit of approximately $ 120 million related to the settlements of contract cost matters on certain programs ( including a portion of the terminated presidential helicopter program ) in 2013 that were not repeated in 2014 ; and approximately $ 45 million due to higher reserves recorded on certain training and logistics solutions programs . the decreases were partially offset by higher operating profit of approximately $ 45 million for performance matters and reserves recorded in 2013 that were not repeated in 2014 ; and about $ 60 million for various programs due to increased risk retirements ( including mh-60 and radar surveillance programs ) . adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 50 million lower for 2014 compared to 2013 . 2013 compared to 2012 mst 2019s net sales for 2013 decreased $ 426 million , or 6% ( 6 % ) , compared to 2012 . the decrease was primarily attributable to lower net sales of approximately $ 275 million for various ship and aviation systems programs due to lower volume ( primarily ptds as final surveillance system deliveries occurred during the second quarter of 2012 ) ; about $ 195 million for various integrated warfare systems and sensors programs ( primarily naval systems ) due to lower volume ; approximately $ 65 million for various training and logistics programs due to lower volume ; and about $ 55 million for the aegis program due to lower volume . the decreases were partially offset by higher net sales of about $ 155 million for the lcs program due to increased volume . mst 2019s operating profit for 2013 increased $ 168 million , or 23% ( 23 % ) , compared to 2012 . the increase was primarily attributable to higher operating profit of approximately $ 120 million related to the settlement of contract cost matters on certain programs ( including a portion of the terminated presidential helicopter program ) ; about $ 55 million for integrated warfare systems and sensors programs ( primarily radar and halifax class modernization programs ) due to increased risk retirements ; and approximately $ 30 million for undersea systems programs due to increased risk retirements . the increases were partially offset by lower operating profit of about $ 55 million for training and logistics programs , primarily due to the recording of approximately $ 30 million of charges mostly related to lower-of-cost-or-market considerations ; and about $ 25 million for ship and aviation systems programs ( primarily ptds ) due to lower risk retirements and volume . operating profit related to the lcs program was comparable . adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 170 million higher for 2013 compared to 2012 . backlog backlog increased in 2014 compared to 2013 primarily due to higher orders on new program starts ( such as space fence ) . backlog increased slightly in 2013 compared to 2012 mainly due to higher orders and lower sales on integrated warfare system and sensors programs ( primarily aegis ) and lower sales on various service programs , partially offset by lower orders on ship and aviation systems ( primarily mh-60 ) . .
Question: what was the percentage change in the backlog 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: |
2731.0 | Context:item 2 : properties information concerning applied's properties at october 25 , 2015 is set forth below: .
|( square feet in thousands )|united states|other countries|total|
|owned|3748|1624|5372|
|leased|556|1107|1663|
|total|4304|2731|7035|
because of the interrelation of applied's operations , properties within a country may be shared by the segments operating within that country . the company's headquarters offices are in santa clara , california . products in silicon systems are manufactured in austin , texas ; gloucester , massachusetts ; rehovot , israel ; and singapore . remanufactured equipment products in the applied global services segment are produced primarily in austin , texas . products in the display segment are manufactured in tainan , taiwan and santa clara , california . products in the energy and environmental solutions segment are primarily manufactured in alzenau , germany and 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 139 acres of buildable land in texas , california , israel and italy that could accommodate additional building space . applied considers the properties that it owns or leases as adequate to meet its current and future requirements . applied regularly assesses the size , capability and location of its global infrastructure and periodically makes adjustments based on these assessments. .
Question: based on the table , how much more square feet is owned outside the united states? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-0.04178 | Context:2011 compared to 2010 mfc 2019s net sales for 2011 increased $ 533 million , or 8% ( 8 % ) , compared to 2010 . the increase was attributable to higher volume of about $ 420 million on air and missile defense programs ( primarily pac-3 and thaad ) ; and about $ 245 million from fire control systems programs primarily related to the sof clss program , which began late in the third quarter of 2010 . partially offsetting these increases were lower net sales due to decreased volume of approximately $ 75 million primarily from various services programs and approximately $ 20 million from tactical missile programs ( primarily mlrs and jassm ) . mfc 2019s operating profit for 2011 increased $ 96 million , or 10% ( 10 % ) , compared to 2010 . the increase was attributable to higher operating profit of about $ 60 million for air and missile defense programs ( primarily pac-3 and thaad ) as a result of increased volume and retirement of risks ; and approximately $ 25 million for various services programs . adjustments not related to volume , including net profit rate adjustments described above , were approximately $ 35 million higher in 2011 compared to 2010 . backlog backlog increased in 2012 compared to 2011 mainly due to increased orders and lower sales on fire control systems programs ( primarily lantirn ae and sniper ae ) and on various services programs , partially offset by lower orders and higher sales volume on tactical missiles programs . backlog increased in 2011 compared to 2010 primarily due to increased orders on air and missile defense programs ( primarily thaad ) . trends we expect mfc 2019s net sales for 2013 will be comparable with 2012 . we expect low double digit percentage growth in air and missile defense programs , offset by an expected decline in volume on logistics services programs . operating profit and margin are expected to be comparable with 2012 results . mission systems and training our mst business segment provides surface ship and submarine combat systems ; sea and land-based missile defense systems ; radar systems ; mission systems and sensors for rotary and fixed-wing aircraft ; littoral combat ships ; simulation and training services ; unmanned technologies and platforms ; ship systems integration ; and military and commercial training systems . mst 2019s major programs include aegis , mk-41 vertical launching system ( vls ) , tpq-53 radar system , mh-60 , lcs , and ptds . mst 2019s operating results included the following ( in millions ) : .
||2012|2011|2010|
|net sales|$ 7579|$ 7132|$ 7443|
|operating profit|737|645|713|
|operating margins|9.7% ( 9.7 % )|9.0% ( 9.0 % )|9.6% ( 9.6 % )|
|backlog at year-end|10700|10500|10600|
2012 compared to 2011 mst 2019s net sales for 2012 increased $ 447 million , or 6% ( 6 % ) , compared to 2011 . the increase in net sales for 2012 was attributable to higher volume and risk retirements of approximately $ 395 million from ship and aviation system programs ( primarily ptds ; lcs ; vls ; and mh-60 ) ; about $ 115 million for training and logistics solutions programs primarily due to net sales from sim industries , which was acquired in the fourth quarter of 2011 ; and approximately $ 30 million as a result of increased volume on integrated warfare systems and sensors programs ( primarily aegis ) . partially offsetting the increases were lower net sales of approximately $ 70 million from undersea systems programs due to lower volume on an international combat system program and towed array systems ; and about $ 25 million due to lower volume on various other programs . mst 2019s operating profit for 2012 increased $ 92 million , or 14% ( 14 % ) , compared to 2011 . the increase was attributable to higher operating profit of approximately $ 175 million from ship and aviation system programs , which reflects higher volume and risk retirements on certain programs ( primarily vls ; ptds ; mh-60 ; and lcs ) and reserves of about $ 55 million for contract cost matters on ship and aviation system programs recorded in the fourth quarter of 2011 ( including the terminated presidential helicopter program ) . partially offsetting the increase was lower operating profit of approximately $ 40 million from undersea systems programs due to reduced profit booking rates on certain programs and lower volume on an international combat system program and towed array systems ; and about $ 40 million due to lower volume on various other programs . adjustments not related to volume , including net profit booking rate adjustments and other matters described above , were approximately $ 150 million higher for 2012 compared to 2011. .
Question: what was the percent of the decline in the mst net sales 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: |
1.44138 | Context:intangibles 2014 goodwill and other : testing goodwill for impairment in september 2011 , an accounting standard update was issued that allows entities an option to first assess qualitative factors to determine whether it is necessary to perform the two-step quantitative goodwill impairment test . this standard is effective for annual and interim goodwill impairment testing beginning january 1 , 2012 . this standard will not have an impact on our financial condition , results of operations and cash flows . note 2 : merger and acquisitions holly - frontier merger on february 21 , 2011 , we entered into a merger agreement providing for a 201cmerger of equals 201d business combination between us and frontier for purposes of creating a more diversified company having a broader geographic sales footprint , stronger financial position and to create a more efficient corporate overhead structure , while also realizing synergies and promoting accretion to earnings per share . the legacy frontier business operations consist of crude oil refining and the wholesale marketing of refined petroleum products produced at the el dorado and cheyenne refineries and serve markets in the rocky mountain and plains states regions of the united states . on july 1 , 2011 , north acquisition , inc. , a direct wholly-owned subsidiary of holly , merged with and into frontier , with frontier surviving as a wholly-owned subsidiary of holly . concurrent with the merger , we changed our name to hollyfrontier corporation and changed the ticker symbol for our common stock traded on the new york stock exchange to 201chfc . 201d subsequent to the merger and following approval by the post-closing board of directors of hollyfrontier , frontier merged with and into hollyfrontier , with hollyfrontier continuing as the surviving corporation . in accordance with the merger agreement , we issued 102.8 million shares of hollyfrontier common stock in exchange for outstanding shares of frontier common stock to former frontier stockholders . each outstanding share of frontier common stock was converted into 0.4811 shares of hollyfrontier common stock with any fractional shares paid in cash . the aggregate consideration paid in stock in connection with the merger was $ 3.7 billion . this is based on our july 1 , 2011 market closing price of $ 35.93 and includes a portion of the fair value of the outstanding equity-based awards assumed from frontier that relates to pre-merger services . the number of shares issued in connection with our merger with frontier and the closing market price of our common stock at july 1 , 2011 have been adjusted to reflect the two-for-one stock split on august 31 , 2011 . the merger has been accounted for using the acquisition method of accounting with holly being considered the acquirer of frontier for accounting purposes . therefore , the purchase price was allocated to the fair value of the acquired assets and assumed liabilities at the acquisition date , with the excess purchase price being recorded as goodwill . the goodwill resulting from the merger is primarily due to the favorable location of the acquired refining facilities and the expected synergies to be gained from our combined business operations . goodwill related to this merger is not deductible for income tax purposes . the following table summarizes our fair value estimates of the frontier assets and liabilities recognized upon our merger on july 1 , 2011: .
||( in millions )|
|cash and cash equivalents|$ 872.7|
|accounts receivable|737.9|
|inventories|657.4|
|properties plants and equipment|1054.3|
|goodwill|2254.0|
|income taxes receivable|37.8|
|other assets|32.8|
|accounts payable|-1076.7 ( 1076.7 )|
|accrued liabilities|-40.7 ( 40.7 )|
|long-term debt|-370.6 ( 370.6 )|
|other long-term liabilities|-96.1 ( 96.1 )|
|deferred income taxes|-357.6 ( 357.6 )|
|net tangible and intangible assets acquired and liabilities assumed|$ 3705.2|
.
Question: what was the quick ratio in july 2011 based on frontier assets and liabilities | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.28532 | Context:local consumer lending local consumer lending ( lcl ) , which constituted approximately 65% ( 65 % ) of citi holdings by assets as of december 31 , 2009 , includes a portion of citigroup 2019s north american mortgage business , retail partner cards , western european cards and retail banking , citifinancial north america , primerica , student loan corporation and other local consumer finance businesses globally . at december 31 , 2009 , lcl had $ 358 billion of assets ( $ 317 billion in north america ) . about one-half of the assets in lcl as of december 31 , 2009 consisted of u.s . mortgages in the company 2019s citimortgage and citifinancial operations . the north american assets consist of residential mortgage loans , retail partner card loans , student loans , personal loans , auto loans , commercial real estate , and other consumer loans and assets . in millions of dollars 2009 2008 2007 % ( % ) change 2009 vs . 2008 % ( % ) change 2008 vs . 2007 .
|in millions of dollars|2009|2008|2007|% ( % ) change 2009 vs . 2008|% ( % ) change 2008 vs . 2007|
|net interest revenue|$ 13709|$ 17903|$ 18166|( 23 ) % ( % )|( 1 ) % ( % )|
|non-interest revenue|5473|6550|8584|-16 ( 16 )|-24 ( 24 )|
|total revenues net of interest expense|$ 19182|$ 24453|$ 26750|( 22 ) % ( % )|( 9 ) % ( % )|
|total operating expenses|$ 10431|$ 14973|$ 11457|( 30 ) % ( % )|31% ( 31 % )|
|net credit losses|$ 19237|$ 13151|$ 6794|46% ( 46 % )|94% ( 94 % )|
|credit reserve build/ ( release )|5904|8592|5454|-31 ( 31 )|58|
|provision for benefits and claims|1055|1191|765|-11 ( 11 )|56|
|provision for unfunded lending commitments|3|2014|2014|2014|2014|
|provisions for loan losses and for benefits and claims|$ 26199|$ 22934|$ 13013|14% ( 14 % )|76% ( 76 % )|
|income ( loss ) from continuing operations before taxes|$ -17448 ( 17448 )|$ -13454 ( 13454 )|$ 2280|( 30 ) % ( % )|nm|
|income taxes ( benefits )|-7405 ( 7405 )|-5200 ( 5200 )|568|-42 ( 42 )|nm|
|income ( loss ) from continuing operations|$ -10043 ( 10043 )|$ -8254 ( 8254 )|$ 1712|( 22 ) % ( % )|nm|
|net income attributable to noncontrolling interests|32|12|34|nm|( 65 ) % ( % )|
|net income ( loss )|$ -10075 ( 10075 )|$ -8266 ( 8266 )|$ 1678|( 22 ) % ( % )|nm|
|average assets ( in billions of dollars )|$ 390|$ 461|$ 496|-15 ( 15 )|( 7 ) % ( % )|
|net credit losses as a percentage of average loans|5.91% ( 5.91 % )|3.56% ( 3.56 % )|1.90% ( 1.90 % )|||
nm not meaningful 2009 vs . 2008 revenues , net of interest expense decreased 22% ( 22 % ) versus the prior year , mostly due to lower net interest revenue . net interest revenue was 23% ( 23 % ) lower than the prior year , primarily due to lower balances , de-risking of the portfolio , and spread compression . net interest revenue as a percentage of average loans decreased 63 basis points from the prior year , primarily due to the impact of higher delinquencies , interest write-offs , loan modification programs , higher fdic charges and card act implementation ( in the latter part of 2009 ) , partially offset by retail partner cards pricing actions . lcl results will continue to be impacted by the card act . citi currently estimates that the net impact on lcl revenues for 2010 could be a reduction of approximately $ 50 to $ 150 million . see also 201cnorth america regional consumer banking 201d and 201cmanaging global risk 2014credit risk 201d for additional information on the impact of the card act to citi 2019s credit card businesses . average loans decreased 12% ( 12 % ) , with north america down 11% ( 11 % ) and international down 19% ( 19 % ) . non-interest revenue decreased $ 1.1 billion mostly driven by the impact of higher credit losses flowing through the securitization trusts . operating expenses declined 30% ( 30 % ) from the prior year , due to lower volumes and reductions from expense re-engineering actions , and the impact of goodwill write-offs of $ 3.0 billion in the fourth quarter of 2008 , partially offset by higher other real estate owned and collection costs . provisions for loan losses and for benefits and claims increased 14% ( 14 % ) versus the prior year reflecting an increase in net credit losses of $ 6.1 billion , partially offset by lower reserve builds of $ 2.7 billion . higher net credit losses were primarily driven by higher losses of $ 3.6 billion in residential real estate lending , $ 1.0 billion in retail partner cards , and $ 0.7 billion in international . assets decreased $ 58 billion versus the prior year , primarily driven by lower originations , wind-down of specific businesses , asset sales , divestitures , write-offs and higher loan loss reserve balances . key divestitures in 2009 included the fi credit card business , italy consumer finance , diners europe , portugal cards , norway consumer , and diners club north america . 2008 vs . 2007 revenues , net of interest expense decreased 9% ( 9 % ) versus the prior year , mostly due to lower non-interest revenue . net interest revenue declined 1% ( 1 % ) versus the prior year . average loans increased 3% ( 3 % ) ; however , revenues declined , driven by lower balances , de-risking of the portfolio , and spread compression . non-interest revenue decreased $ 2 billion , primarily due to the impact of securitization in retail partners cards and the mark-to-market on the mortgage servicing rights asset and related hedge in real estate lending . operating expenses increased 31% ( 31 % ) , driven by the impact of goodwill write-offs of $ 3.0 billion in the fourth quarter of 2008 and restructuring costs . excluding one-time expenses , expenses were slightly higher due to increased volumes. .
Question: what percent of total revenues net of interest expense was non-interest revenue 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: |
802.0 | Context:the goldman sachs group , inc . and subsidiaries notes to consolidated financial statements commercial lending . the firm 2019s commercial lending commitments are extended to investment-grade and non- investment-grade corporate borrowers . commitments to investment-grade corporate borrowers are principally used for operating liquidity and general corporate purposes . the firm also extends lending commitments in connection with contingent acquisition financing and other types of corporate lending as well as commercial real estate financing . commitments that are extended for contingent acquisition financing are often intended to be short-term in nature , as borrowers often seek to replace them with other funding sources . sumitomo mitsui financial group , inc . ( smfg ) provides the firm with credit loss protection on certain approved loan commitments ( primarily investment-grade commercial lending commitments ) . the notional amount of such loan commitments was $ 26.88 billion and $ 27.03 billion as of december 2016 and december 2015 , respectively . the credit loss protection on loan commitments provided by smfg is generally limited to 95% ( 95 % ) of the first loss the firm realizes on such commitments , up to a maximum of approximately $ 950 million . in addition , subject to the satisfaction of certain conditions , upon the firm 2019s request , smfg will provide protection for 70% ( 70 % ) of additional losses on such commitments , up to a maximum of $ 1.13 billion , of which $ 768 million of protection had been provided as of both december 2016 and december 2015 . the firm also uses other financial instruments to mitigate credit risks related to certain commitments not covered by smfg . these instruments primarily include credit default swaps that reference the same or similar underlying instrument or entity , or credit default swaps that reference a market index . warehouse financing . the firm provides financing to clients who warehouse financial assets . these arrangements are secured by the warehoused assets , primarily consisting of consumer and corporate loans . contingent and forward starting resale and securities borrowing agreements/forward starting repurchase and secured lending agreements the firm enters into resale and securities borrowing agreements and repurchase and secured lending agreements that settle at a future date , generally within three business days . the firm also enters into commitments to provide contingent financing to its clients and counterparties through resale agreements . the firm 2019s funding of these commitments depends on the satisfaction of all contractual conditions to the resale agreement and these commitments can expire unused . letters of credit the firm has commitments under letters of credit issued by various banks which the firm provides to counterparties in lieu of securities or cash to satisfy various collateral and margin deposit requirements . investment commitments the firm 2019s investment commitments include commitments to invest in private equity , real estate and other assets directly and through funds that the firm raises and manages . investment commitments include $ 2.10 billion and $ 2.86 billion as of december 2016 and december 2015 , respectively , related to commitments to invest in funds managed by the firm . if these commitments are called , they would be funded at market value on the date of investment . leases the firm has contractual obligations under long-term noncancelable lease agreements for office space expiring on various dates through 2069 . certain agreements are subject to periodic escalation provisions for increases in real estate taxes and other charges . the table below presents future minimum rental payments , net of minimum sublease rentals . $ in millions december 2016 .
|$ in millions|as of december 2016|
|2017|$ 290|
|2018|282|
|2019|238|
|2020|206|
|2021|159|
|2022 - thereafter|766|
|total|$ 1941|
rent charged to operating expense was $ 244 million for 2016 , $ 249 million for 2015 and $ 309 million for 2014 . operating leases include office space held in excess of current requirements . rent expense relating to space held for growth is included in 201coccupancy . 201d the firm records a liability , based on the fair value of the remaining lease rentals reduced by any potential or existing sublease rentals , for leases where the firm has ceased using the space and management has concluded that the firm will not derive any future economic benefits . costs to terminate a lease before the end of its term are recognized and measured at fair value on termination . during 2016 , the firm incurred exit costs of approximately $ 68 million related to excess office space . goldman sachs 2016 form 10-k 169 .
Question: what was total rent charged to operating expense in millions for 2016 , 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: |
0.10941 | Context:management 2019s discussion and analysis action antitrust legal settlement . net income for 2005 and 2004 included an aftertax charge of $ 13 million , or 8 cents a share , and $ 19 million , or 11 cents a share , respectively , to reflect the net increase in the current value of the company 2019s obligation under the ppg settlement arrangement relating to asbestos claims . results of business segments net sales operating income ( millions ) 2005 2004 2005 2004 .
|( millions )|net sales 2005|net sales 2004|net sales 2005|2004|
|coatings|$ 5566|$ 5275|$ 609|$ 777|
|glass|2237|2204|56|169|
|chemicals|2398|2034|451|291|
coatings sales increased $ 291 million or 5% ( 5 % ) in 2005 . sales increased 3% ( 3 % ) due to higher selling prices across all businesses except automotive ; 1% ( 1 % ) due to improved volumes as increases in our aerospace , architectural and original equipment automotive businesses offset volume declines in automotive refinish and industrial coatings ; and 1% ( 1 % ) due to the positive effects of foreign currency translation . operating income decreased $ 168 million in 2005 . the adverse impact of inflation totaled $ 315 million , of which $ 245 million was attributable to higher raw material costs . higher year-over-year selling prices increased operating earnings by $ 169 million . coatings operating earnings were reduced by the $ 132 million charge for the cost of the marvin legal settlement net of insurance recoveries . other factors increasing coatings operating income in 2005 were the increased sales volumes described above , manufacturing efficiencies , formula cost reductions and higher other income . glass sales increased $ 33 million or 1% ( 1 % ) in 2005 . sales increased 1% ( 1 % ) due to improved volumes as increases in our automotive replacement glass , insurance and services and performance glazings ( flat glass ) businesses offset volume declines in our fiber glass and automotive original equipment glass businesses . the positive effects of foreign currency translation were largely offset by lower selling prices primarily in our automotive replacement glass and automotive original equipment businesses . operating income decreased $ 113 million in 2005 . the federal glass class action antitrust legal settlement of $ 61 million , the $ 49 million impact of rising natural gas costs and the absence of the $ 19 million gain in 2004 from the sale/ leaseback of precious metal combined to account for a reduction in operating earnings of $ 129 million . the remaining year-over-year increase in glass operating earnings of $ 16 million resulted primarily from improved manufacturing efficiencies and lower overhead costs exceeding the adverse impact of other inflation . our continuing efforts in 2005 to position the fiber glass business for future growth in profitability were adversely impacted by the rise in fourth quarter natural gas prices , slightly lower year-over-year sales , lower equity earnings due to weaker pricing in the asian electronics market , and the absence of the $ 19 million gain which occurred in 2004 stemming from the sale/ leaseback of precious metals . despite high energy costs , we expect fiber glass earnings to improve in 2006 because of price strengthening in the asian electronics market , which began to occur in the fourth quarter of 2005 , increased cost reduction initiatives and the positive impact resulting from the start up of our new joint venture in china . this joint venture will produce high labor content fiber glass reinforcement products and take advantage of lower labor costs , allowing us to refocus our u.s . production capacity on higher margin direct process products . the 2005 operating earnings of our north american automotive oem glass business declined by $ 30 million compared with 2004 . significant structural changes continue to occur in the north american automotive industry , including the loss of u.s . market share by general motors and ford . this has created a very challenging and competitive environment for all suppliers to the domestic oems , including our business . about half of the decline in earnings resulted from the impact of rising natural gas costs , particularly in the fourth quarter , combined with the traditional adverse impact of year-over-year sales price reductions producing a decline in earnings that exceeded our successful efforts to reduce manufacturing costs . the other half of the 2005 decline was due to lower sales volumes and mix and higher new program launch costs . the challenging competitive environment and high energy prices will continue in 2006 . our business is working in 2006 to improve its performance through increased manufacturing efficiencies , structural cost reduction initiatives , focusing on profitable growth opportunities and improving our sales mix . chemicals sales increased $ 364 million or 18% ( 18 % ) in 2005 . sales increased 21% ( 21 % ) due to higher selling prices , primarily for chlor-alkali products , and 1% ( 1 % ) due to the combination of an acquisition in our optical products business and the positive effects of foreign currency translation . total volumes declined 4% ( 4 % ) as volume increases in optical products were more than offset by volume declines in chlor-alkali and fine chemicals . volume in chlor-alkali products and silicas were adversely impacted in the third and fourth quarters by the hurricanes . operating income increased $ 160 million in 2005 . the primary factor increasing operating income was the record high selling prices in chlor-alkali . factors decreasing operating income were higher inflation , including $ 136 million due to increased energy and ethylene costs ; $ 34 million of direct costs related to the impact of the hurricanes ; $ 27 million due to the asset impairment charge related to our fine chemicals business ; lower sales volumes ; higher manufacturing costs and increased environmental expenses . the increase in chemicals operating earnings occurred primarily through the first eight months of 2005 . the hurricanes hit in september impacting volumes and costs in september through november and contributing to the rise in natural gas prices which lowered fourth quarter chemicals earnings by $ 58 million , almost 57% ( 57 % ) of the full year impact of higher natural gas prices . the damage caused by hurricane rita resulted in the shutdown of our lake charles , la chemical plant for a total of eight days in september and an additional five 18 2005 ppg annual report and form 10-k .
Question: what is the operating income percentage for the coatings segment in 2005? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
60.125 | Context:jpmorgan chase & co./2017 annual report 89 the table below reflects the firm 2019s assessed level of capital allocated to each line of business as of the dates indicated . line of business equity ( allocated capital ) .
|( in billions )|january 12018|december 31 , 2017|december 31 , 2016|
|consumer & community banking|$ 51.0|$ 51.0|$ 51.0|
|corporate & investment bank|70.0|70.0|64.0|
|commercial banking|20.0|20.0|16.0|
|asset & wealth management|9.0|9.0|9.0|
|corporate|79.6|79.6|88.1|
|total common stockholders 2019 equity|$ 229.6|$ 229.6|$ 228.1|
planning and stress testing comprehensive capital analysis and review the federal reserve requires large bank holding companies , including the firm , to submit a capital plan on an annual basis . the federal reserve uses the ccar and dodd-frank act stress test processes to ensure that large bhcs have sufficient capital during periods of economic and financial stress , and have robust , forward-looking capital assessment and planning processes in place that address each bhc 2019s unique risks to enable it to absorb losses under certain stress scenarios . through the ccar , the federal reserve evaluates each bhc 2019s capital adequacy and internal capital adequacy assessment processes ( 201cicaap 201d ) , as well as its plans to make capital distributions , such as dividend payments or stock repurchases . on june 28 , 2017 , the federal reserve informed the firm that it did not object , on either a quantitative or qualitative basis , to the firm 2019s 2017 capital plan . for information on actions taken by the firm 2019s board of directors following the 2017 ccar results , see capital actions on pages 89-90 . the firm 2019s ccar process is integrated into and employs the same methodologies utilized in the firm 2019s icaap process , as discussed below . internal capital adequacy assessment process semiannually , the firm completes the icaap , which provides management with a view of the impact of severe and unexpected events on earnings , balance sheet positions , reserves and capital . the firm 2019s icaap integrates stress testing protocols with capital planning . the process assesses the potential impact of alternative economic and business scenarios on the firm 2019s earnings and capital . economic scenarios , and the parameters underlying those scenarios , are defined centrally and applied uniformly across the businesses . these scenarios are articulated in terms of macroeconomic factors , which are key drivers of business results ; global market shocks , which generate short-term but severe trading losses ; and idiosyncratic operational risk events . the scenarios are intended to capture and stress key vulnerabilities and idiosyncratic risks facing the firm . however , when defining a broad range of scenarios , actual events can always be worse . accordingly , management considers additional stresses outside these scenarios , as necessary . icaap results are reviewed by management and the audit committee . capital actions preferred stock preferred stock dividends declared were $ 1.7 billion for the year ended december 31 , 2017 . on october 20 , 2017 , the firm issued $ 1.3 billion of fixed- to-floating rate non-cumulative preferred stock , series cc , with an initial dividend rate of 4.625% ( 4.625 % ) . on december 1 , 2017 , the firm redeemed all $ 1.3 billion of its outstanding 5.50% ( 5.50 % ) non-cumulative preferred stock , series o . for additional information on the firm 2019s preferred stock , see note 20 . trust preferred securities on december 18 , 2017 , the delaware trusts that issued seven series of outstanding trust preferred securities were liquidated , $ 1.6 billion of trust preferred and $ 56 million of common securities originally issued by those trusts were cancelled , and the junior subordinated debentures previously held by each trust issuer were distributed pro rata to the holders of the corresponding series of trust preferred and common securities . the firm redeemed $ 1.6 billion of trust preferred securities in the year ended december 31 , 2016 . common stock dividends the firm 2019s common stock dividend policy reflects jpmorgan chase 2019s earnings outlook , desired dividend payout ratio , capital objectives , and alternative investment opportunities . on september 19 , 2017 , the firm announced that its board of directors increased the quarterly common stock dividend to $ 0.56 per share , effective with the dividend paid on october 31 , 2017 . the firm 2019s dividends are subject to the board of directors 2019 approval on a quarterly basis . for information regarding dividend restrictions , see note 20 and note 25. .
Question: what is the annual cash flow cost of the cc series preferred stock , in m? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.44853 | Context:recognized total losses and expenses of $ 28.6 million , including a net loss on write-down to fair value of the assets and certain other transaction fees of $ 27.1 million within other expenses and $ 1.5 million of legal and other fees . 2022 professional fees and outside services expense decreased in 2017 compared to 2016 , largely due to higher legal and regulatory fees in 2016 related to our business activities and product offerings as well as higher professional fees related to a greater reliance on consultants for security and systems enhancement work . the overall decrease in operating expenses in 2017 when compared with 2016 was partially offset by the following increases : 2022 licensing and other fee sharing agreements expense increased due to higher expense resulting from incentive payments made to facilitate the transition of the russell contract open interest , as well as increased costs of revenue sharing agreements for certain licensed products . the overall increase in 2017 was partially offset by lower expense related to revenue sharing agreements for certain equity and energy contracts due to lower volume for these products compared to 2016 . 2022 compensation and benefits expense increased as a result of higher average headcount primarily in our international locations as well as normal cost of living adjustments . 2016 compared with 2015 operating expenses increased by $ 54.4 million in 2016 when compared with 2015 . the following table shows the estimated impact of key factors resulting in the net decrease in operating expenses . ( dollars in millions ) over-year change change as a percentage of 2015 expenses .
|( dollars in millions )|year-over-yearchange|change as apercentage of2015 expenses|
|loss on datacenter and related legal fees|$ 28.6|2% ( 2 % )|
|professional fees and outside services|24.4|2|
|foreign currency exchange rate fluctuation|13.2|1|
|licensing and other fee agreements|12.0|1|
|reorganization severance and retirement costs|-8.1 ( 8.1 )|-1 ( 1 )|
|real estate taxes and fees|-10.0 ( 10.0 )|-1 ( 1 )|
|other expenses net|-5.7 ( 5.7 )|2014|
|total|$ 54.4|4% ( 4 % )|
overall operating expenses increased in 2016 when compared with 2015 due to the following reasons : 2022 in 2016 , we recognized total losses and expenses of $ 28.6 million , including a net loss on write-down to fair value of the assets and certain other transaction fees of $ 27.1 million within other expenses and $ 1.5 million of legal and other fees as a result of our sale and leaseback of our datacenter . 2022 professional fees and outside services expense increased in 2016 largely due to an increase in legal and regulatory efforts related to our business activities and product offerings as well as an increase in professional fees related to a greater reliance on consultants for security and systems enhancement work . 2022 in 2016 , we recognized a net loss of $ 24.5 million due to an unfavorable change in exchange rates on foreign cash balances , compared with a net loss of $ 11.3 million in 2015 . 2022 licensing and other fee sharing agreements expense increased due to higher expense related to revenue sharing agreements for certain equity and energy contracts due to both higher volume and an increase in license rates for certain equity and energy products. .
Question: what was the percent of the professional fees and outside services as part of the total overall changes 24.4 | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.32873 | Context:issuer purchases of equity securities the following table provides information regarding purchases of our common stock that were made by us during the fourth quarter of 2011 . period total number of shares purchased ( 2 ) average price paid per share total number of shares purchased as part of publicly announced plans or programs ( 1 ) maximum dollar value of shares that may yet be purchased under the plans or programs ( 1 ) ( in millions ) .
|period|total number of shares purchased ( 2 )|average price paid per share|total number of shares purchased as part ofpublicly announced plans or programs ( 1 )|maximum dollar value of shares that may yetbe purchased under the plans or programs ( 1 ) ( in millions )|
|october 1 2013 october 31|3228557|$ 58.52|3227800|$ 108|
|november 1 2013 november 30|1813994|$ 66.38|1618110|$ 2014|
|december 1 2013 december 31|475685|$ 64.68|2014|$ 2014|
|total|5518236|$ 61.64|4845910||
( 1 ) in may 2010 , our board of directors approved a $ 3.5 billion share repurchase program . we completed this program in the fourth quarter of 2011 . in total , we repurchased 49.2 million common shares for $ 3.5 billion , or $ 71.18 per share , under this program . ( 2 ) during the fourth quarter of 2011 , we repurchased 672326 shares from company employees for the payment of personal income tax withholdings resulting from restricted stock vesting and stock option exercises . such repurchases are in addition to the $ 3.5 billion repurchase program . under the devon energy corporation incentive savings plan ( the 201cplan 201d ) , eligible employees may purchase shares of our common stock through an investment in the devon stock fund ( the 201cstock fund 201d ) , which is administered by an independent trustee , fidelity management trust company . eligible employees purchased approximately 45000 shares of our common stock in 2011 , at then-prevailing stock prices , that they held through their ownership in the stock fund . we acquired the shares of our common stock sold under the plan through open-market purchases . we filed a registration statement on form s-8 on january 26 , 2012 registering any offers and sales of interests in the plan or the stock fund and of the underlying shares of our common stock purchased by plan participants after that date . similarly , under the devon canada corporation savings plan ( the 201ccanadian plan 201d ) , eligible canadian employees may purchase shares of our common stock through an investment in the canadian plan , which is administered by an independent trustee , sun life assurance company of canada . eligible canadian employees purchased approximately 9000 shares of our common stock in 2011 , at then-prevailing stock prices , that they held through their ownership in the canadian plan . we acquired the shares sold under the canadian plan through open-market purchases . these shares and any interest in the canadian plan were offered and sold in reliance on the exemptions for offers and sales of securities made outside of the u.s. , including under regulation s for offers and sales of securities to employees pursuant to an employee benefit plan established and administered in accordance with the law of a country other than the u.s. .
Question: what percentage of total shares repurchased were purchased in november? | 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: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: did cash flows from operating activities increase in 2006 compared to 2005? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.36904 | Context:entergy corporation and subsidiaries notes to financial statements in november 2000 , entergy's non-utility nuclear business purchased the fitzpatrick and indian point 3 power plants in a seller-financed transaction . entergy issued notes to nypa with seven annual installments of approximately $ 108 million commencing one year from the date of the closing , and eight annual installments of $ 20 million commencing eight years from the date of the closing . these notes do not have a stated interest rate , but have an implicit interest rate of 4.8% ( 4.8 % ) . in accordance with the purchase agreement with nypa , the purchase of indian point 2 in 2001 resulted in entergy's non-utility nuclear business becoming liable to nypa for an additional $ 10 million per year for 10 years , beginning in september 2003 . this liability was recorded upon the purchase of indian point 2 in september 2001 , and is included in the note payable to nypa balance above . in july 2003 , a payment of $ 102 million was made prior to maturity on the note payable to nypa . under a provision in a letter of credit supporting these notes , if certain of the utility operating companies or system energy were to default on other indebtedness , entergy could be required to post collateral to support the letter of credit . covenants in the entergy corporation notes require it to maintain a consolidated debt ratio of 65% ( 65 % ) or less of its total capitalization . if entergy's debt ratio exceeds this limit , or if entergy corporation or certain of the utility operating companies default on other indebtedness or are in bankruptcy or insolvency proceedings , an acceleration of the notes' maturity dates may occur . entergy gulf states louisiana , entergy louisiana , entergy mississippi , entergy texas , and system energy have received ferc long-term financing orders authorizing long-term securities issuances . entergy arkansas has received an apsc long-term financing order authorizing long-term securities issuances . the long-term securities issuances of entergy new orleans are limited to amounts authorized by the city council , and the current authorization extends through august 2010 . capital funds agreement pursuant to an agreement with certain creditors , entergy corporation has agreed to supply system energy with sufficient capital to : maintain system energy's equity capital at a minimum of 35% ( 35 % ) of its total capitalization ( excluding short- term debt ) ; permit the continued commercial operation of grand gulf ; pay in full all system energy indebtedness for borrowed money when due ; and enable system energy to make payments on specific system energy debt , under supplements to the agreement assigning system energy's rights in the agreement as security for the specific debt . entergy texas securitization bonds - hurricane rita in april 2007 , the puct issued a financing order authorizing the issuance of securitization bonds to recover $ 353 million of entergy texas' hurricane rita reconstruction costs and up to $ 6 million of transaction costs , offset by $ 32 million of related deferred income tax benefits . in june 2007 , entergy gulf states reconstruction funding i , llc , a company wholly-owned and consolidated by entergy texas , issued $ 329.5 million of senior secured transition bonds ( securitization bonds ) , as follows : amount ( in thousands ) .
||amount ( in thousands )|
|senior secured transition bonds series a:||
|tranche a-1 ( 5.51% ( 5.51 % ) ) due october 2013|$ 93500|
|tranche a-2 ( 5.79% ( 5.79 % ) ) due october 2018|121600|
|tranche a-3 ( 5.93% ( 5.93 % ) ) due june 2022|114400|
|total senior secured transition bonds|$ 329500|
.
Question: in 2007 what was percent of the total senior secured transition bonds that was tranche a-2 due in october 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: |
1095.7 | Context:taxes . if group or its bermuda subsidiaries were to become subject to u.s . income tax ; there could be a material adverse effect on the company 2019s financial condition , results of operations and cash flows . united kingdom . bermuda re 2019s uk branch conducts business in the uk and is subject to taxation in the uk . bermuda re believes that it has operated and will continue to operate its bermuda operation in a manner which will not cause them to be subject to uk taxation . if bermuda re 2019s bermuda operations were to become subject to uk income tax there could be a material adverse impact on the company 2019s financial condition , results of operations and cash flow . available information the company 2019s annual reports on form 10-k , quarterly reports on form 10-q , current reports on form 8-k , proxy state- ments and amendments to those reports are available free of charge through the company 2019s internet website at http://www.everestre.com as soon as reasonably practicable after such reports are electronically filed with the securities and exchange commission ( the 201csec 201d ) . i t e m 1 a . r i s k f a c t o r s in addition to the other information provided in this report , the following risk factors should be considered when evaluating an investment in our securities . if the circumstances contemplated by the individual risk factors materialize , our business , finan- cial condition and results of operations could be materially and adversely affected and the trading price of our common shares could decline significantly . r i s k s r e l a t i n g t o o u r b u s i n e s s our results could be adversely affected by catastrophic events . we are exposed to unpredictable catastrophic events , including weather-related and other natural catastrophes , as well as acts of terrorism . any material reduction in our operating results caused by the occurrence of one or more catastrophes could inhibit our ability to pay dividends or to meet our interest and principal payment obligations . we define a catastrophe as an event that causes a pre-tax loss on property exposures before reinsurance of at least $ 5.0 million , before corporate level rein- surance and taxes . effective for the third quarter 2005 , industrial risk losses have been excluded from catastrophe losses , with prior periods adjusted for comparison purposes . by way of illustration , during the past five calendar years , pre-tax catastrophe losses , net of contract specific reinsurance but before cessions under corporate reinsurance programs , were as follows: .
|calendar year|calendar year||
|2006|$ 287.9|million|
|2005|$ 1485.7|million|
|2004|$ 390.0|million|
|2003|$ 35.0|million|
|2002|$ 30.0|million|
our losses from future catastrophic events could exceed our projections . we use projections of possible losses from future catastrophic events of varying types and magnitudes as a strategic under- writing tool . we use these loss projections to estimate our potential catastrophe losses in certain geographic areas and decide on the purchase of retrocessional coverage or other actions to limit the extent of potential losses in a given geographic area . these loss projections are approximations reliant on a mix of quantitative and qualitative processes and actual losses may exceed the projections by a material amount . we focus on potential losses that can be generated by any single event as part of our evaluation and monitoring of our aggre- gate exposure to catastrophic events . accordingly , we employ various techniques to estimate the amount of loss we could sustain from any single catastrophic event in various geographical areas . these techniques range from non-modeled deterministic approaches 2014such as tracking aggregate limits exposed in catastrophe-prone zones and applying historic dam- age factors 2014to modeled approaches that scientifically measure catastrophe risks using sophisticated monte carlo simulation techniques that provide insights into the frequency and severity of expected losses on a probabilistic basis . if our loss reserves are inadequate to meet our actual losses , net income would be reduced or we could incur a loss . we are required to maintain reserves to cover our estimated ultimate liability of losses and loss adjustment expenses for both reported and unreported claims incurred . these reserves are only estimates of what we believe the settlement and adminis- tration of claims will cost based on facts and circumstances known to us . in setting reserves for our reinsurance liabilities , we rely on claim data supplied by our ceding companies and brokers and we employ actuarial and statistical projections . the information received from our ceding companies is not always timely or accurate , which can contribute to inaccuracies in our 81790fin_a 4/13/07 11:08 am page 23 http://www.everestre.com .
Question: what was the change in the amount of the , pre-tax catastrophe losses from 2004 to 2005 in thousands | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.11864 | Context:table of contents the company uses some custom components that are not commonly used by its competitors , and new products introduced by the company often utilize custom components available from only one source . when a component or product uses new technologies , initial capacity constraints may exist until the suppliers 2019 yields have matured or manufacturing capacity has increased . if the company 2019s supply of components for a new or existing product were delayed or constrained , or if an outsourcing partner delayed shipments of completed products to the company , the company 2019s financial condition and operating results could be materially adversely affected . the company 2019s business and financial performance could also be materially adversely affected depending on the time required to obtain sufficient quantities from the original source , or to identify and obtain sufficient quantities from an alternative source . continued availability of these components at acceptable prices , or at all , may be affected if those suppliers concentrated on the production of common components instead of components customized to meet the company 2019s requirements . the company has entered into agreements for the supply of many components ; however , there can be no guarantee that the company will be able to extend or renew these agreements on similar terms , or at all . therefore , the company remains subject to significant risks of supply shortages and price increases that could materially adversely affect its financial condition and operating results . substantially all of the company 2019s hardware products are manufactured by outsourcing partners that are located primarily in asia . a significant concentration of this manufacturing is currently performed by a small number of outsourcing partners , often in single locations . certain of these outsourcing partners are the sole- sourced suppliers of components and manufacturers for many of the company 2019s products . although the company works closely with its outsourcing partners on manufacturing schedules , the company 2019s operating results could be adversely affected if its outsourcing partners were unable to meet their production commitments . the company 2019s purchase commitments typically cover its requirements for periods up to 150 days . other off-balance sheet commitments operating leases the company leases various equipment and facilities , including retail space , under noncancelable operating lease arrangements . the company does not currently utilize any other off-balance sheet financing arrangements . the major facility leases are typically for terms not exceeding 10 years and generally contain multi-year renewal options . as of september 26 , 2015 , the company had a total of 463 retail stores . leases for retail space are for terms ranging from five to 20 years , the majority of which are for 10 years , and often contain multi-year renewal options . as of september 26 , 2015 , the company 2019s total future minimum lease payments under noncancelable operating leases were $ 6.3 billion , of which $ 3.6 billion related to leases for retail space . rent expense under all operating leases , including both cancelable and noncancelable leases , was $ 794 million , $ 717 million and $ 645 million in 2015 , 2014 and 2013 , respectively . future minimum lease payments under noncancelable operating leases having remaining terms in excess of one year as of september 26 , 2015 , are as follows ( in millions ) : .
|2016|$ 772|
|2017|774|
|2018|744|
|2019|715|
|2020|674|
|thereafter|2592|
|total|$ 6271|
other commitments the company utilizes several outsourcing partners to manufacture sub-assemblies for the company 2019s products and to perform final assembly and testing of finished products . these outsourcing partners acquire components and build product based on demand information supplied by the company , which typically covers periods up to 150 days . the company also obtains individual components for its products from a wide variety of individual suppliers . consistent with industry practice , the company acquires components through a combination of purchase orders , supplier contracts and open orders based on projected demand information . where appropriate , the purchases are applied to inventory component prepayments that are outstanding with the respective supplier . as of september 26 , 2015 , the company had outstanding off-balance sheet third-party manufacturing commitments and component purchase commitments of $ 29.5 billion . apple inc . | 2015 form 10-k | 65 .
Question: what percentage of future minimum lease payments under noncancelable operating leases are 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: |
0.27702 | Context:in the ordinary course of business , based on our evaluations of certain geologic trends and prospective economics , we have allowed certain lease acreage to expire and may allow additional acreage to expire in the future . if production is not established or we take no other action to extend the terms of the leases , licenses , or concessions , undeveloped acreage listed in the table below will expire over the next three years . we plan to continue the terms of many of these licenses and concession areas or retain leases through operational or administrative actions . net undeveloped acres expiring year ended december 31 .
|( in thousands )|net undeveloped acres expiring year ended december 31 , 2015|net undeveloped acres expiring year ended december 31 , 2016|net undeveloped acres expiring year ended december 31 , 2017|
|u.s .|211|150|94|
|e.g .|36|2014|2014|
|other africa|1950|1502|1089|
|total africa|1986|1502|1089|
|other international|88|2014|2014|
|total|2285|1652|1183|
oil sands mining segment we hold a 20 percent non-operated interest in the aosp , an oil sands mining and upgrading joint venture located in alberta , canada . the joint venture produces bitumen from oil sands deposits in the athabasca region utilizing mining techniques and upgrades the bitumen to synthetic crude oils and vacuum gas oil . the aosp 2019s mining and extraction assets are located near fort mcmurray , alberta , and include the muskeg river and the jackpine mines . gross design capacity of the combined mines is 255000 ( 51000 net to our interest ) barrels of bitumen per day . the aosp operations use established processes to mine oil sands deposits from an open-pit mine , extract the bitumen and upgrade it into synthetic crude oils . ore is mined using traditional truck and shovel mining techniques . the mined ore passes through primary crushers to reduce the ore chunks in size and is then sent to rotary breakers where the ore chunks are further reduced to smaller particles . the particles are combined with hot water to create slurry . the slurry moves through the extraction process where it separates into sand , clay and bitumen-rich froth . a solvent is added to the bitumen froth to separate out the remaining solids , water and heavy asphaltenes . the solvent washes the sand and produces clean bitumen that is required for the upgrader to run efficiently . the process yields a mixture of solvent and bitumen which is then transported from the mine to the scotford upgrader via the approximately 300-mile corridor pipeline . the aosp's scotford upgrader is located at fort saskatchewan , northeast of edmonton , alberta . the bitumen is upgraded at scotford using both hydrotreating and hydroconversion processes to remove sulfur and break the heavy bitumen molecules into lighter products . blendstocks acquired from outside sources are utilized in the production of our saleable products . the upgrader produces synthetic crude oils and vacuum gas oil . the vacuum gas oil is sold to an affiliate of the operator under a long-term contract at market-related prices , and the other products are sold in the marketplace . as of december 31 , 2014 , we own or have rights to participate in developed and undeveloped leases totaling approximately 163000 gross ( 33000 net ) acres . the underlying developed leases are held for the duration of the project , with royalties payable to the province of alberta . synthetic crude oil sales volumes for 2014 averaged 50 mbbld and net-of-royalty production was 41 mbbld . in december 2013 , a jackpine mine expansion project received conditional approval from the canadian government . the project includes additional mining areas , associated processing facilities and infrastructure . the government conditions relate to wildlife , the environment and aboriginal health issues . we will evaluate the potential expansion project and government conditions after infrastructure reliability initiatives are completed . the governments of alberta and canada have agreed to partially fund quest ccs for $ 865 million canadian . in the third quarter of 2012 , the energy and resources conservation board ( "ercb" ) , alberta's primary energy regulator at that time , conditionally approved the project and the aosp partners approved proceeding to construct and operate quest ccs . government funding commenced in 2012 and continued as milestones were achieved during the development , construction and operating phases . failure of the aosp to meet certain timing , performance and operating objectives may result in repaying some of the government funding . construction and commissioning of quest ccs is expected to be completed by late 2015. .
Question: by how much did net undeveloped acres decrease 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: |
0.01911 | Context:blackrock n 96 n notes in april 2009 , the company acquired $ 2 million of finite- lived management contracts with a five-year estimated useful life associated with the acquisition of the r3 capital partners funds . in december 2009 , in conjunction with the bgi trans- action , the company acquired $ 163 million of finite- lived management contracts with a weighted-average estimated useful life of approximately 10 years . estimated amortization expense for finite-lived intangible assets for each of the five succeeding years is as follows : ( dollar amounts in millions ) .
|2010|$ 160|
|2011|157|
|2012|156|
|2013|155|
|2014|149|
indefinite-lived acquired management contracts on september 29 , 2006 , in conjunction with the mlim transaction , the company acquired indefinite-lived man- agement contracts valued at $ 4477 million consisting of $ 4271 million for all retail mutual funds and $ 206 million for alternative investment products . on october 1 , 2007 , in conjunction with the quellos transaction , the company acquired $ 631 million in indefinite-lived management contracts associated with alternative investment products . on october 1 , 2007 , the company purchased the remain- ing 20% ( 20 % ) of an investment manager of a fund of hedge funds . in conjunction with this transaction , the company recorded $ 8 million in additional indefinite-lived management contracts associated with alternative investment products . on december 1 , 2009 , in conjunction with the bgi transaction , the company acquired $ 9785 million in indefinite-lived management contracts valued consisting primarily for exchange traded funds and common and collective trusts . indefinite-lived acquired trade names/trademarks on december 1 , 2009 , in conjunction with the bgi transaction , the company acquired trade names/ trademarks primarily related to ishares valued at $ 1402.5 million . the fair value was determined using a royalty rate based primarily on normalized marketing and promotion expenditures to develop and support the brands globally . 13 . borrowings short-term borrowings 2007 facility in august 2007 , the company entered into a five-year $ 2.5 billion unsecured revolving credit facility ( the 201c2007 facility 201d ) , which permits the company to request an additional $ 500 million of borrowing capacity , subject to lender credit approval , up to a maximum of $ 3.0 billion . the 2007 facility requires the company not to exceed a maximum leverage ratio ( ratio of net debt to earnings before interest , taxes , depreciation and amortiza- tion , where net debt equals total debt less domestic unrestricted cash ) of 3 to 1 , which was satisfied with a ratio of less than 1 to 1 at december 31 , 2009 . the 2007 facility provides back-up liquidity , funds ongoing working capital for general corporate purposes and funds various investment opportunities . at december 31 , 2009 , the company had $ 200 million outstanding under the 2007 facility with an interest rate of 0.44% ( 0.44 % ) and a maturity date during february 2010 . during february 2010 , the company rolled over $ 100 million in borrowings with an interest rate of 0.43% ( 0.43 % ) and a maturity date in may 2010 . lehman commercial paper inc . has a $ 140 million participation under the 2007 facility ; however blackrock does not expect that lehman commercial paper inc . will honor its commitment to fund additional amounts . bank of america , a related party , has a $ 140 million participation under the 2007 facility . in december 2007 , in order to support two enhanced cash funds that blackrock manages , blackrock elected to procure two letters of credit under the existing 2007 facility in an aggregate amount of $ 100 million . in decem- ber 2008 , the letters of credit were terminated . commercial paper program on october 14 , 2009 , blackrock established a com- mercial paper program ( the 201ccp program 201d ) under which the company may issue unsecured commercial paper notes ( the 201ccp notes 201d ) on a private placement basis up to a maximum aggregate amount outstanding at any time of $ 3 billion . the proceeds of the commercial paper issuances were used for the financing of a portion of the bgi transaction . subsidiaries of bank of america and barclays , as well as other third parties , act as dealers under the cp program . the cp program is supported by the 2007 facility . the company began issuance of cp notes under the cp program on november 4 , 2009 . as of december 31 , 2009 , blackrock had approximately $ 2 billion of out- standing cp notes with a weighted average interest rate of 0.20% ( 0.20 % ) and a weighted average maturity of 23 days . since december 31 , 2009 , the company repaid approxi- mately $ 1.4 billion of cp notes with proceeds from the long-term notes issued in december 2009 . as of march 5 , 2010 , blackrock had $ 596 million of outstanding cp notes with a weighted average interest rate of 0.18% ( 0.18 % ) and a weighted average maturity of 38 days . japan commitment-line in june 2008 , blackrock japan co. , ltd. , a wholly owned subsidiary of the company , entered into a five billion japanese yen commitment-line agreement with a bank- ing institution ( the 201cjapan commitment-line 201d ) . the term of the japan commitment-line was one year and interest accrued at the applicable japanese short-term prime rate . in june 2009 , blackrock japan co. , ltd . renewed the japan commitment-line for a term of one year . the japan commitment-line is intended to provide liquid- ity and flexibility for operating requirements in japan . at december 31 , 2009 , the company had no borrowings outstanding on the japan commitment-line . convertible debentures in february 2005 , the company issued $ 250 million aggregate principal amount of convertible debentures ( the 201cdebentures 201d ) , due in 2035 and bearing interest at a rate of 2.625% ( 2.625 % ) per annum . interest is payable semi- annually in arrears on february 15 and august 15 of each year , and commenced august 15 , 2005 . prior to february 15 , 2009 , the debentures could have been convertible at the option of the holder at a decem- ber 31 , 2008 conversion rate of 9.9639 shares of common stock per one dollar principal amount of debentures under certain circumstances . the debentures would have been convertible into cash and , in some situations as described below , additional shares of the company 2019s common stock , if during the five business day period after any five consecutive trading day period the trading price per debenture for each day of such period is less than 103% ( 103 % ) of the product of the last reported sales price of blackrock 2019s common stock and the conversion rate of the debentures on each such day or upon the occurrence of certain other corporate events , such as a distribution to the holders of blackrock common stock of certain rights , assets or debt securities , if the company becomes party to a merger , consolidation or transfer of all or substantially all of its assets or a change of control of the company . on february 15 , 2009 , the debentures became convertible into cash at any time prior to maturity at the option of the holder and , in some situations as described below , additional shares of the company 2019s common stock at the current conversion rate . at the time the debentures are tendered for conver- sion , for each one dollar principal amount of debentures converted , a holder shall be entitled to receive cash and shares of blackrock common stock , if any , the aggregate value of which ( the 201cconversion value 201d ) will be deter- mined by multiplying the applicable conversion rate by the average of the daily volume weighted average price of blackrock common stock for each of the ten consecutive trading days beginning on the second trading day imme- diately following the day the debentures are tendered for conversion ( the 201cten-day weighted average price 201d ) . the company will deliver the conversion value to holders as follows : ( 1 ) an amount in cash ( the 201cprincipal return 201d ) equal to the lesser of ( a ) the aggregate conversion value of the debentures to be converted and ( b ) the aggregate principal amount of the debentures to be converted , and ( 2 ) if the aggregate conversion value of the debentures to be converted is greater than the principal return , an amount in shares ( the 201cnet shares 201d ) , determined as set forth below , equal to such aggregate conversion value less the principal return ( the 201cnet share amount 201d ) . the number of net shares to be paid will be determined by dividing the net share amount by the ten-day weighted average price . in lieu of delivering fractional shares , the company will deliver cash based on the ten-day weighted average price . the conversion rate for the debentures is subject to adjustments upon the occurrence of certain corporate events , such as a change of control of the company , 193253ti_txt.indd 96 4/2/10 1:18 pm .
Question: what is the percent change in estimated amortization expense for finite-lived intangible assets 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: |
44.27273 | Context:marathon oil corporation notes to consolidated financial statements restricted stock awards the following is a summary of restricted stock award activity . awards weighted-average grant date fair value .
||awards|weighted-averagegrant datefair value|
|unvested at december 31 2008|2049255|$ 47.72|
|granted|251335|24.74|
|vested|-762466 ( 762466 )|46.03|
|forfeited|-96625 ( 96625 )|43.56|
|unvested at december 31 2009|1441499|44.89|
the vesting date fair value of restricted stock awards which vested during 2009 , 2008 and 2007 was $ 24 million , $ 38 million and $ 29 million . the weighted average grant date fair value of restricted stock awards was $ 44.89 , $ 47.72 , and $ 39.87 for awards unvested at december 31 , 2009 , 2008 and 2007 . as of december 31 , 2009 , there was $ 43 million of unrecognized compensation cost related to restricted stock awards which is expected to be recognized over a weighted average period of 1.6 years . stock-based performance awards all stock-based performance awards have either vested or been forfeited . the vesting date fair value of stock- based performance awards which vested during 2007 was $ 38 . 24 . stockholders 2019 equity in each year , 2009 and 2008 , we issued 2 million in common stock upon the redemption of the exchangeable shares described below in addition to treasury shares issued for employee stock-based awards . the board of directors has authorized the repurchase of up to $ 5 billion of marathon common stock . purchases under the program may be in either open market transactions , including block purchases , or in privately negotiated transactions . we will use cash on hand , cash generated from operations , proceeds from potential asset sales or cash from available borrowings to acquire shares . this program may be changed based upon our financial condition or changes in market conditions and is subject to termination prior to completion . the repurchase program does not include specific price targets or timetables . as of december 31 , 2009 , we have acquired 66 million common shares at a cost of $ 2922 million under the program . no shares have been acquired since august 2008 . securities exchangeable into marathon common stock 2013 as discussed in note 6 , we acquired all of the outstanding shares of western on october 18 , 2007 . the western shareholders who were canadian residents received , at their election , cash , marathon common stock , securities exchangeable into marathon common stock ( the 201cexchangeable shares 201d ) or a combination thereof . the western shareholders elected to receive 5 million exchangeable shares as part of the acquisition consideration . the exchangeable shares are shares of an indirect canadian subsidiary of marathon and , at the acquisition date , were exchangeable on a one-for-one basis into marathon common stock . subsequent to the acquisition , the exchange ratio is adjusted to reflect cash dividends , if any , paid on marathon common stock and cash dividends , if any , paid on the exchangeable shares . the exchange ratio at december 31 , 2009 , was 1.06109 common shares for each exchangeable share . the exchangeable shares are exchangeable at the option of the holder at any time and are automatically redeemable on october 18 , 2011 . holders of exchangeable shares are entitled to instruct a trustee to vote ( or obtain a proxy from the trustee to vote directly ) on all matters submitted to the holders of marathon common stock . the number of votes to which each holder is entitled is equal to the whole number of shares of marathon common stock into which such holder 2019s exchangeable shares would be exchangeable based on the exchange ratio in effect on the record date for the vote . the voting right is attached to voting preferred shares of marathon that were issued to a trustee in an amount .
Question: as of december 31 , 2009 , what was the average cost per share of the acquired 66 million common shares under the program? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.42129 | Context:management 2019s discussion and analysis 132 jpmorgan chase & co./2010 annual report unpaid principal balance due to negative amortization of option arms was $ 24 million and $ 78 million at december 31 , 2010 and 2009 , respectively . the firm estimates the following balances of option arm loans will experience a recast that results in a payment increase : $ 72 million in 2011 , $ 241 million in 2012 and $ 784 million in 2013 . the firm did not originate option arms and new originations of option arms were discontinued by washington mutual prior to the date of jpmorgan chase 2019s acquisition of its banking operations . subprime mortgages at december 31 , 2010 were $ 11.3 billion , compared with $ 12.5 billion at december 31 , 2009 . the decrease was due to paydowns and charge-offs on delinquent loans , partially offset by the addition of loans as a result of the adoption of the accounting guidance related to vies . late-stage delinquencies remained elevated but continued to improve , albeit at a slower rate during the second half of the year , while early-stage delinquencies stabilized at an elevated level during this period . nonaccrual loans improved largely as a result of the improvement in late-stage delinquencies . charge-offs reflected modest improvement . auto : auto loans at december 31 , 2010 , were $ 48.4 billion , compared with $ 46.0 billion at december 31 , 2009 . delinquent and nonaccrual loans have decreased . in addition , net charge-offs have declined 52% ( 52 % ) from the prior year . provision expense de- creased due to favorable loss severity as a result of a strong used- car market nationwide and reduced loss frequency due to the tightening of underwriting criteria in earlier periods . the auto loan portfolio reflected a high concentration of prime quality credits . business banking : business banking loans at december 31 , 2010 , were $ 16.8 billion , compared with $ 17.0 billion at december 31 , 2009 . the decrease was primarily a result of run-off of the washington mutual portfolio and charge-offs on delinquent loans . these loans primarily include loans which are highly collateralized , often with personal loan guarantees . nonaccrual loans continued to remain elevated . after having increased during the first half of 2010 , nonaccrual loans as of december 31 , 2010 , declined to year-end 2009 levels . student and other : student and other loans at december 31 , 2010 , including loans held-for-sale , were $ 15.3 billion , compared with $ 16.4 billion at december 31 , 2009 . other loans primarily include other secured and unsecured consumer loans . delinquencies reflected some stabilization in the second half of 2010 , but remained elevated . charge-offs during 2010 remained relatively flat with 2009 levels reflecting the impact of elevated unemployment levels . purchased credit-impaired loans : pci loans at december 31 , 2010 , were $ 72.8 billion compared with $ 81.2 billion at december 31 , 2009 . this portfolio represents loans acquired in the washing- ton mutual transaction that were recorded at fair value at the time of acquisition . that fair value included an estimate of credit losses expected to be realized over the remaining lives of the loans , and therefore no allowance for loan losses was recorded for these loans as of the acquisition date . the firm regularly updates the amount of principal and interest cash flows expected to be collected for these loans . probable decreases in expected loan principal cash flows would trigger the recognition of impairment through the provision for loan losses . probable and significant increases in expected cash flows ( e.g. , decreased principal credit losses , the net benefit of modifications ) would first reverse any previously recorded allowance for loan losses , with any remaining increase in the expected cash flows recognized prospectively in interest income over the remaining estimated lives of the underlying loans . during 2010 , management concluded as part of the firm 2019s regular assessment of the pci pools that it was probable that higher expected principal credit losses would result in a decrease in expected cash flows . accordingly , the firm recognized an aggregate $ 3.4 billion impairment related to the home equity , prime mortgage , option arm and subprime mortgage pci portfolios . as a result of this impairment , the firm 2019s allowance for loan losses for the home equity , prime mortgage , option arm and subprime mortgage pci portfolios was $ 1.6 billion , $ 1.8 billion , $ 1.5 billion and $ 98 million , respectively , at december 31 , 2010 , compared with an allowance for loan losses of $ 1.1 billion and $ 491 million for the prime mortgage and option arm pci portfolios , respectively , at december 31 , 2009 . approximately 39% ( 39 % ) of the option arm borrowers were delinquent , 5% ( 5 % ) were making interest-only or negatively amortizing payments , and 56% ( 56 % ) were making amortizing payments . approximately 50% ( 50 % ) of current borrowers are subject to risk of payment shock due to future payment recast ; substantially all of the remaining loans have been modified to a fixed rate fully amortizing loan . the cumulative amount of unpaid interest added to the unpaid principal balance of the option arm pci pool was $ 1.4 billion and $ 1.9 billion at de- cember 31 , 2010 and 2009 , respectively . the firm estimates the following balances of option arm pci loans will experience a recast that results in a payment increase : $ 1.2 billion in 2011 , $ 2.7 billion in 2012 and $ 508 million in 2013 . the following table provides a summary of lifetime loss estimates included in both the nonaccretable difference and the allowance for loan losses . principal charge-offs will not be recorded on these pools until the nonaccretable difference has been fully depleted . lifetime loss estimates ( a ) ltd liquidation losses ( b ) .
|december 31 ( in millions )|lifetime loss estimates ( a ) 2010|lifetime loss estimates ( a ) 2009|lifetime loss estimates ( a ) 2010|2009|
|option arms|$ 11588|$ 10650|$ 4860|$ 1744|
|home equity|14698|13138|8810|6060|
|prime mortgage|4870|4240|1495|794|
|subprime mortgage|3732|3842|1250|796|
|total|$ 34888|$ 31870|$ 16415|$ 9394|
( a ) includes the original nonaccretable difference established in purchase accounting of $ 30.5 billion for principal losses only . the remaining nonaccretable difference for principal losses only was $ 14.1 billion and $ 21.1 billion at december 31 , 2010 and 2009 , respectively . all probable increases in principal losses and foregone interest subsequent to the purchase date are reflected in the allowance for loan losses . ( b ) life-to-date ( 201cltd 201d ) liquidation losses represent realization of loss upon loan resolution. .
Question: in 2010 what was the percent of the lifetime loss estimates from home equity | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.09243 | Context:part i item 1 entergy corporation , utility operating companies , and system energy asbestos litigation ( entergy arkansas , entergy gulf states louisiana , entergy louisiana , entergy mississippi , entergy new orleans , and entergy texas ) numerous lawsuits have been filed in federal and state courts primarily in texas and louisiana , primarily by contractor employees who worked in the 1940-1980s timeframe , against entergy gulf states louisiana and entergy texas , and to a lesser extent the other utility operating companies , as premises owners of power plants , for damages caused by alleged exposure to asbestos . many other defendants are named in these lawsuits as well . currently , there are approximately 500 lawsuits involving approximately 5000 claimants . management believes that adequate provisions have been established to cover any exposure . additionally , negotiations continue with insurers to recover reimbursements . management believes that loss exposure has been and will continue to be handled so that the ultimate resolution of these matters will not be material , in the aggregate , to the financial position or results of operation of the utility operating companies . employment and labor-related proceedings ( entergy corporation , entergy arkansas , entergy gulf states louisiana , entergy louisiana , entergy mississippi , entergy new orleans , entergy texas , and system energy ) the registrant subsidiaries and other entergy subsidiaries are responding to various lawsuits in both state and federal courts and to other labor-related proceedings filed by current and former employees . generally , the amount of damages being sought is not specified in these proceedings . these actions include , but are not limited to , allegations of wrongful employment actions ; wage disputes and other claims under the fair labor standards act or its state counterparts ; claims of race , gender and disability discrimination ; disputes arising under collective bargaining agreements ; unfair labor practice proceedings and other administrative proceedings before the national labor relations board ; claims of retaliation ; and claims for or regarding benefits under various entergy corporation sponsored plans . entergy and the registrant subsidiaries are responding to these suits and proceedings and deny liability to the claimants . employees employees are an integral part of entergy 2019s commitment to serving customers . as of december 31 , 2011 , entergy subsidiaries employed 14682 people . utility: .
|entergy arkansas|1357|
|entergy gulf states louisiana|805|
|entergy louisiana|937|
|entergy mississippi|736|
|entergy new orleans|342|
|entergy texas|674|
|system energy|-|
|entergy operations|2867|
|entergy services|3138|
|entergy nuclear operations|3709|
|other subsidiaries|117|
|total entergy|14682|
approximately 5300 employees are represented by the international brotherhood of electrical workers , the utility workers union of america , the international brotherhood of teamsters , the united government security officers of america , and the international union , security , police , fire professionals of america. .
Question: what percentage of total entergy's employees are part of entergy arkansas? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
87041.0 | Context:entergy mississippi , inc . management's financial discussion and analysis sources of capital entergy mississippi's sources to meet its capital requirements include : internally generated funds ; cash on hand ; debt or preferred stock issuances ; and bank financing under new or existing facilities . entergy mississippi may refinance or redeem debt and preferred stock prior to maturity , to the extent market conditions and interest and dividend rates are favorable . all debt and common and preferred stock issuances by entergy mississippi require prior regulatory approval . preferred stock and debt issuances are also subject to issuance tests set forth in its corporate charter , bond indenture , and other agreements . entergy mississippi has sufficient capacity under these tests to meet its foreseeable capital needs . entergy mississippi has two separate credit facilities in the aggregate amount of $ 50 million and renewed both facilities through may 2009 . borrowings under the credit facilities may be secured by a security interest in entergy mississippi's accounts receivable . no borrowings were outstanding under either credit facility as of december 31 , 2008 . entergy mississippi has obtained short-term borrowing authorization from the ferc under which it may borrow through march 31 , 2010 , up to the aggregate amount , at any one time outstanding , of $ 175 million . see note 4 to the financial statements for further discussion of entergy mississippi's short-term borrowing limits . entergy mississippi has also obtained an order from the ferc authorizing long-term securities issuances . the current long-term authorization extends through june 30 , 2009 . entergy mississippi's receivables from or ( payables to ) the money pool were as follows as of december 31 for each of the following years: .
|2008|2007|2006|2005|
|( in thousands )|( in thousands )|( in thousands )|( in thousands )|
|( $ 66044 )|$ 20997|$ 39573|( $ 84066 )|
in may 2007 , $ 6.6 million of entergy mississippi's receivable from the money pool was replaced by a note receivable from entergy new orleans . see note 4 to the financial statements for a description of the money pool . state and local rate regulation the rates that entergy mississippi charges for electricity significantly influence its financial position , results of operations , and liquidity . entergy mississippi is regulated and the rates charged to its customers are determined in regulatory proceedings . a governmental agency , the mpsc , is primarily responsible for approval of the rates charged to customers . formula rate plan in march 2008 , entergy mississippi made its annual scheduled formula rate plan filing for the 2007 test year with the mpsc . the filing showed that a $ 10.1 million increase in annual electric revenues is warranted . in june 2008 , entergy mississippi reached a settlement with the mississippi public utilities staff that would result in a $ 3.8 million rate increase . in january 2009 the mpsc rejected the settlement and left the current rates in effect . entergy mississippi appealed the mpsc's decision to the mississippi supreme court. .
Question: how is the cash flow of entergy mississippi affected by the balance in money pool 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: |
0.02075 | Context:entergy arkansas , inc . management's financial discussion and analysis results of operations net income 2004 compared to 2003 net income increased $ 16.2 million due to lower other operation and maintenance expenses , a lower effective income tax rate for 2004 compared to 2003 , and lower interest charges . the increase was partially offset by lower net revenue . 2003 compared to 2002 net income decreased $ 9.6 million due to lower net revenue , higher depreciation and amortization expenses , and a higher effective income tax rate for 2003 compared to 2002 . the decrease was substantially offset by lower other operation and maintenance expenses , higher other income , and lower interest charges . net revenue 2004 compared to 2003 net revenue , which is entergy arkansas' measure of gross margin , consists of operating revenues net of : 1 ) fuel , fuel-related , and purchased power expenses and 2 ) other regulatory credits . following is an analysis of the change in net revenue comparing 2004 to 2003. .
||( in millions )|
|2003 net revenue|$ 998.7|
|deferred fuel cost revisions|-16.9 ( 16.9 )|
|other|-3.4 ( 3.4 )|
|2004 net revenue|$ 978.4|
deferred fuel cost revisions includes the difference between the estimated deferred fuel expense and the actual calculation of recoverable fuel expense , which occurs on an annual basis . deferred fuel cost revisions decreased net revenue due to a revised estimate of fuel costs filed for recovery at entergy arkansas in the march 2004 energy cost recovery rider , which reduced net revenue by $ 11.5 million . the remainder of the variance is due to the 2002 energy cost recovery true-up , made in the first quarter of 2003 , which increased net revenue in 2003 . gross operating revenues , fuel and purchased power expenses , and other regulatory credits gross operating revenues increased primarily due to : 2022 an increase of $ 20.7 million in fuel cost recovery revenues due to an increase in the energy cost recovery rider effective april 2004 ( fuel cost recovery revenues are discussed in note 2 to the domestic utility companies and system energy financial statements ) ; 2022 an increase of $ 15.5 million in grand gulf revenues due to an increase in the grand gulf rider effective january 2004 ; 2022 an increase of $ 13.9 million in gross wholesale revenue primarily due to increased sales to affiliated systems ; 2022 an increase of $ 9.5 million due to volume/weather primarily resulting from increased usage during the unbilled sales period , partially offset by the effect of milder weather on billed sales in 2004. .
Question: what is the percent change in net revenue 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: |
11200.0 | Context:majority of the increased tax position is attributable to temporary differences . the increase in 2014 current period tax positions related primarily to the company 2019s change in tax accounting method filed in 2008 for repair and maintenance costs on its utility plant . the company does not anticipate material changes to its unrecognized tax benefits within the next year . if the company sustains all of its positions at december 31 , 2014 and 2013 , an unrecognized tax benefit of $ 9444 and $ 7439 , respectively , excluding interest and penalties , would impact the company 2019s effective tax rate . the following table summarizes the changes in the company 2019s valuation allowance: .
|balance at january 1 2012|$ 21579|
|increases in current period tax positions|2014|
|decreases in current period tax positions|-2059 ( 2059 )|
|balance at december 31 2012|$ 19520|
|increases in current period tax positions|2014|
|decreases in current period tax positions|-5965 ( 5965 )|
|balance at december 31 2013|$ 13555|
|increases in current period tax positions|2014|
|decreases in current period tax positions|-3176 ( 3176 )|
|balance at december 31 2014|$ 10379|
included in 2013 is a discrete tax benefit totaling $ 2979 associated with an entity re-organization within the company 2019s market-based operations segment that allowed for the utilization of state net operating loss carryforwards and the release of an associated valuation allowance . note 13 : 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 commingled funds including equity and bond funds , fixed income securities , guaranteed interest contracts with insurance companies , real estate funds 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. .
Question: between 2012 and december 312014 what was the cumulative decrease in tax positions | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.1907 | Context:74 2012 ppg annual report and form 10-k 25 . separation and merger transaction on january , 28 , 2013 , the company completed the previously announced separation of its commodity chemicals business and merger of its wholly-owned subsidiary , eagle spinco inc. , with a subsidiary of georgia gulf corporation in a tax efficient reverse morris trust transaction ( the 201ctransaction 201d ) . pursuant to the merger , eagle spinco , the entity holding ppg's former commodity chemicals business , is now a wholly-owned subsidiary of georgia gulf . the closing of the merger followed the expiration of the related exchange offer and the satisfaction of certain other conditions . the combined company formed by uniting georgia gulf with ppg's former commodity chemicals business is named axiall corporation ( 201caxiall 201d ) . ppg holds no ownership interest in axiall . ppg received the necessary ruling from the internal revenue service and as a result this transaction was generally tax free to ppg and its shareholders . under the terms of the exchange offer , 35249104 shares of eagle spinco common stock were available for distribution in exchange for shares of ppg common stock accepted in the offer . following the merger , each share of eagle spinco common stock automatically converted into the right to receive one share of axiall corporation common stock . accordingly , ppg shareholders who tendered their shares of ppg common stock as part of this offer received 3.2562 shares of axiall common stock for each share of ppg common stock accepted for exchange . ppg was able to accept the maximum of 10825227 shares of ppg common stock for exchange in the offer , and thereby , reduced its outstanding shares by approximately 7% ( 7 % ) . under the terms of the transaction , ppg received $ 900 million of cash and 35.2 million shares of axiall common stock ( market value of $ 1.8 billion on january 25 , 2013 ) which was distributed to ppg shareholders by the exchange offer as described above . the cash consideration is subject to customary post-closing adjustment , including a working capital adjustment . in the transaction , ppg transferred environmental remediation liabilities , defined benefit pension plan assets and liabilities and other post-employment benefit liabilities related to the commodity chemicals business to axiall . ppg will report a gain on the transaction reflecting the excess of the sum of the cash proceeds received and the cost ( closing stock price on january 25 , 2013 ) of the ppg shares tendered and accepted in the exchange for the 35.2 million shares of axiall common stock over the net book value of the net assets of ppg's former commodity chemicals business . the transaction will also result in a net partial settlement loss associated with the spin out and termination of defined benefit pension liabilities and the transfer of other post-retirement benefit liabilities under the terms of the transaction . during 2012 , the company incurred $ 21 million of pretax expense , primarily for professional services , related to the transaction . additional transaction-related expenses will be incurred in 2013 . ppg will report the results of its commodity chemicals business for january 2013 and a net gain on the transaction as results from discontinued operations when it reports its results for the quarter ending march 31 , 2013 . in the ppg results for prior periods , presented for comparative purposes beginning with the first quarter 2013 , the results of its former commodity chemicals business will be reclassified from continuing operations and presented as the results from discontinued operations . the net sales and income before income taxes of the commodity chemicals business that will be reclassified and reported as discontinued operations are presented in the table below for the years ended december 31 , 2012 , 2011 and 2010: .
|millions|year-ended 2012|year-ended 2011|year-ended 2010|
|net sales|$ 1700|$ 1741|$ 1441|
|income before income taxes|$ 368|$ 376|$ 187|
income before income taxes for the year ended december 31 , 2012 , 2011 and 2010 is $ 4 million lower , $ 6 million higher and $ 2 million lower , respectively , than segment earnings for the ppg commodity chemicals segment reported for these periods . these differences are due to the inclusion of certain gains , losses and expenses associated with the chlor-alkali and derivatives business that were not reported in the ppg commodity chemicals segment earnings in accordance with the accounting guidance on segment reporting . table of contents notes to the consolidated financial statements .
Question: what is the cumulative three year return on net sales for discontinued operations? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
10.27 | Context:american tower corporation and subsidiaries notes to consolidated financial statements u.s . acquisitions 2014during the year ended december 31 , 2010 , the company acquired 548 towers through multiple acquisitions in the united states for an aggregate purchase price of $ 329.3 million and contingent consideration of approximately $ 4.6 million . the acquisition of these towers is consistent with the company 2019s strategy to expand in selected geographic areas and have been accounted for as business combinations . the following table summarizes the preliminary allocation of the aggregate purchase consideration paid and the amounts of assets acquired and liabilities assumed based on the estimated fair value of the acquired assets and assumed liabilities at the date of acquisition ( in thousands ) : purchase price allocation .
||purchase price allocation|
|non-current assets|$ 442|
|property and equipment|64564|
|intangible assets ( 1 )|260898|
|current liabilities|-360 ( 360 )|
|long-term liabilities|-7802 ( 7802 )|
|fair value of net assets acquired|$ 317742|
|goodwill ( 2 )|16131|
( 1 ) consists of customer relationships of approximately $ 205.4 million and network location intangibles of approximately $ 55.5 million . the customer relationships and network location intangibles are being amortized on a straight-line basis over a period of 20 years . ( 2 ) goodwill is expected to be deductible for income tax purposes . the goodwill was allocated to the domestic rental and management segment . the allocation of the purchase price will be finalized upon completion of analyses of the fair value of the assets acquired and liabilities assumed . south africa acquisition 2014on november 4 , 2010 , the company entered into a definitive agreement with cell c ( pty ) limited to purchase up to approximately 1400 existing towers , and up to 1800 additional towers that either are under construction or will be constructed , for an aggregate purchase price of up to approximately $ 430 million . the company anticipates closing the purchase of up to 1400 existing towers during 2011 , subject to customary closing conditions . other transactions coltel transaction 2014on september 3 , 2010 , the company entered into a definitive agreement to purchase the exclusive use rights for towers in colombia from colombia telecomunicaciones s.a . e.s.p . ( 201ccoltel 201d ) until 2023 , when ownership of the towers will transfer to the company at no additional cost . pursuant to that agreement , the company completed the purchase of exclusive use rights for 508 towers for an aggregate purchase price of $ 86.8 million during the year ended december 31 , 2010 . the company expects to complete the purchase of the exclusive use rights for an additional 180 towers by the end of 2011 , subject to customary closing conditions . the transaction has been accounted for as a capital lease , with the aggregated purchase price being allocated to property and equipment and non-current assets . joint venture with mtn group 2014on december 6 , 2010 , the company entered into a definitive agreement with mtn group limited ( 201cmtn group 201d ) to establish a joint venture in ghana ( 201ctowerco ghana 201d ) . towerco ghana , which will be managed by the company , will be owned by a holding company of which a wholly owned american tower subsidiary will hold a 51% ( 51 % ) share and a wholly owned mtn group subsidiary ( 201cmtn ghana 201d ) will hold a 49% ( 49 % ) share . the transaction involves the sale of up to 1876 of mtn ghana 2019s existing sites to .
Question: what is the annual amortization expense related to customer relationships , 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: |
0.30488 | Context:jpmorgan chase & co./2017 annual report 89 the table below reflects the firm 2019s assessed level of capital allocated to each line of business as of the dates indicated . line of business equity ( allocated capital ) .
|( in billions )|january 12018|december 31 , 2017|december 31 , 2016|
|consumer & community banking|$ 51.0|$ 51.0|$ 51.0|
|corporate & investment bank|70.0|70.0|64.0|
|commercial banking|20.0|20.0|16.0|
|asset & wealth management|9.0|9.0|9.0|
|corporate|79.6|79.6|88.1|
|total common stockholders 2019 equity|$ 229.6|$ 229.6|$ 228.1|
planning and stress testing comprehensive capital analysis and review the federal reserve requires large bank holding companies , including the firm , to submit a capital plan on an annual basis . the federal reserve uses the ccar and dodd-frank act stress test processes to ensure that large bhcs have sufficient capital during periods of economic and financial stress , and have robust , forward-looking capital assessment and planning processes in place that address each bhc 2019s unique risks to enable it to absorb losses under certain stress scenarios . through the ccar , the federal reserve evaluates each bhc 2019s capital adequacy and internal capital adequacy assessment processes ( 201cicaap 201d ) , as well as its plans to make capital distributions , such as dividend payments or stock repurchases . on june 28 , 2017 , the federal reserve informed the firm that it did not object , on either a quantitative or qualitative basis , to the firm 2019s 2017 capital plan . for information on actions taken by the firm 2019s board of directors following the 2017 ccar results , see capital actions on pages 89-90 . the firm 2019s ccar process is integrated into and employs the same methodologies utilized in the firm 2019s icaap process , as discussed below . internal capital adequacy assessment process semiannually , the firm completes the icaap , which provides management with a view of the impact of severe and unexpected events on earnings , balance sheet positions , reserves and capital . the firm 2019s icaap integrates stress testing protocols with capital planning . the process assesses the potential impact of alternative economic and business scenarios on the firm 2019s earnings and capital . economic scenarios , and the parameters underlying those scenarios , are defined centrally and applied uniformly across the businesses . these scenarios are articulated in terms of macroeconomic factors , which are key drivers of business results ; global market shocks , which generate short-term but severe trading losses ; and idiosyncratic operational risk events . the scenarios are intended to capture and stress key vulnerabilities and idiosyncratic risks facing the firm . however , when defining a broad range of scenarios , actual events can always be worse . accordingly , management considers additional stresses outside these scenarios , as necessary . icaap results are reviewed by management and the audit committee . capital actions preferred stock preferred stock dividends declared were $ 1.7 billion for the year ended december 31 , 2017 . on october 20 , 2017 , the firm issued $ 1.3 billion of fixed- to-floating rate non-cumulative preferred stock , series cc , with an initial dividend rate of 4.625% ( 4.625 % ) . on december 1 , 2017 , the firm redeemed all $ 1.3 billion of its outstanding 5.50% ( 5.50 % ) non-cumulative preferred stock , series o . for additional information on the firm 2019s preferred stock , see note 20 . trust preferred securities on december 18 , 2017 , the delaware trusts that issued seven series of outstanding trust preferred securities were liquidated , $ 1.6 billion of trust preferred and $ 56 million of common securities originally issued by those trusts were cancelled , and the junior subordinated debentures previously held by each trust issuer were distributed pro rata to the holders of the corresponding series of trust preferred and common securities . the firm redeemed $ 1.6 billion of trust preferred securities in the year ended december 31 , 2016 . common stock dividends the firm 2019s common stock dividend policy reflects jpmorgan chase 2019s earnings outlook , desired dividend payout ratio , capital objectives , and alternative investment opportunities . on september 19 , 2017 , the firm announced that its board of directors increased the quarterly common stock dividend to $ 0.56 per share , effective with the dividend paid on october 31 , 2017 . the firm 2019s dividends are subject to the board of directors 2019 approval on a quarterly basis . for information regarding dividend restrictions , see note 20 and note 25. .
Question: in 2017 what was the percent of the corporate & investment bank as part of the total common stockholders 2019 equity allocated to each line of business | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.84338 | Context:management 2019s discussion and analysis of financial condition and results of operations ( continued ) the npr is generally consistent with the basel committee 2019s lcr . however , it includes certain more stringent requirements , including an accelerated implementation time line and modifications to the definition of high-quality liquid assets and expected outflow assumptions . we continue to analyze the proposed rules and analyze their impact as well as develop strategies for compliance . the principles of the lcr are consistent with our liquidity management framework ; however , the specific calibrations of various elements within the final lcr rule , such as the eligibility of assets as hqla , operational deposit requirements and net outflow requirements could have a material effect on our liquidity , funding and business activities , including the management and composition of our investment securities portfolio and our ability to extend committed contingent credit facilities to our clients . in january 2014 , the basel committee released a revised proposal with respect to the net stable funding ratio , or nsfr , which will establish a one-year liquidity standard representing the proportion of long-term assets funded by long-term stable funding , scheduled for global implementation in 2018 . the revised nsfr has made some favorable changes regarding the treatment of operationally linked deposits and a reduction in the funding required for certain securities . however , we continue to review the specifics of the basel committee's release and will be evaluating the u.s . implementation of this standard to analyze the impact and develop strategies for compliance . u.s . banking regulators have not yet issued a proposal to implement the nsfr . contractual cash obligations and other commitments the following table presents our long-term contractual cash obligations , in total and by period due as of december 31 , 2013 . these obligations were recorded in our consolidated statement of condition as of that date , except for operating leases and the interest portions of long-term debt and capital leases . contractual cash obligations .
|as of december 31 2013 ( in millions )|payments due by period total|payments due by period less than 1year|payments due by period 1-3years|payments due by period 4-5years|payments due by period over 5years|
|long-term debt ( 1 )|$ 10630|$ 1015|$ 2979|$ 2260|$ 4376|
|operating leases|923|208|286|209|220|
|capital lease obligations|1051|99|185|169|598|
|total contractual cash obligations|$ 12604|$ 1322|$ 3450|$ 2638|$ 5194|
( 1 ) long-term debt excludes capital lease obligations ( presented as a separate line item ) and the effect of interest-rate swaps . interest payments were calculated at the stated rate with the exception of floating-rate debt , for which payments were calculated using the indexed rate in effect as of december 31 , 2013 . the table above does not include obligations which will be settled in cash , primarily in less than one year , such as client deposits , federal funds purchased , securities sold under repurchase agreements and other short-term borrowings . additional information about deposits , federal funds purchased , securities sold under repurchase agreements and other short-term borrowings is provided in notes 8 and 9 to the consolidated financial statements included under item 8 of this form 10-k . the table does not include obligations related to derivative instruments because the derivative-related amounts recorded in our consolidated statement of condition as of december 31 , 2013 did not represent the amounts that may ultimately be paid under the contracts upon settlement . additional information about our derivative instruments is provided in note 16 to the consolidated financial statements included under item 8 of this form 10-k . we have obligations under pension and other post-retirement benefit plans , more fully described in note 19 to the consolidated financial statements included under item 8 of this form 10-k , which are not included in the above table . additional information about contractual cash obligations related to long-term debt and operating and capital leases is provided in notes 10 and 20 to the consolidated financial statements included under item 8 of this form 10-k . our consolidated statement of cash flows , also included under item 8 of this form 10-k , provides additional liquidity information . the following table presents our commitments , other than the contractual cash obligations presented above , in total and by duration as of december 31 , 2013 . these commitments were not recorded in our consolidated statement of condition as of that date. .
Question: what percent of total contractual obligations is long term debt? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.02164 | Context:the 2006 impact on the consolidated balance sheet of the purchase price allocations related to the 2006 acquisitions and adjustments relative to other acquisitions within the allocation period were provided in the preceding table . year 2005 acquisitions : the company acquired cuno on august 2 , 2005 . the operating results of cuno are included in the industrial and transportation business segment . cuno is engaged in the design , manufacture and marketing of a comprehensive line of filtration products for the separation , clarification and purification of fluids and gases . 3m and cuno have complementary sets of filtration technologies , creating an opportunity to bring an even wider range of filtration solutions to customers around the world . 3m acquired cuno for approximately $ 1.36 billion , comprised of $ 1.27 billion of cash paid ( net of cash acquired ) and the acquisition of $ 80 million of debt , most of which has been repaid . purchased identifiable intangible assets of $ 268 million for the cuno acquisition will be amortized on a straight-line basis over lives ranging from 5 to 20 years ( weighted-average life of 15 years ) . in-process research and development charges from the cuno acquisition were not material . pro forma information related to this acquisition is not included because its impact on the company 2019s consolidated results of operations is not considered to be material . the allocation of the purchase price is presented in the table that follows . 2005 cuno acquisition asset ( liability ) ( millions ) .
|accounts receivable|$ 96|
|inventory|61|
|property plant and equipment 2014 net|121|
|purchased intangible assets|268|
|purchased goodwill|992|
|other assets|30|
|deferred tax liability|-102 ( 102 )|
|accounts payable and other current liabilities|-104 ( 104 )|
|interest bearing debt|-80 ( 80 )|
|other long-term liabilities|-16 ( 16 )|
|net assets acquired|$ 1266|
|supplemental information:||
|cash paid|$ 1294|
|less : cash acquired|28|
|cash paid net of cash acquired|$ 1266|
during the year ended december 31 , 2005 , 3m entered into two immaterial additional business combinations for a total purchase price of $ 27 million , net of cash acquired . 1 ) 3m ( electro and communications business ) purchased certain assets of siemens ultrasound division 2019s flexible circuit manufacturing line , a u.s . operation . the acquired operation produces flexible interconnect circuits that provide electrical connections between components in electronics systems used primarily in the transducers of ultrasound machines . 2 ) 3m ( display and graphics business ) purchased certain assets of mercury online solutions inc. , a u.s . operation . the acquired operation provides hardware and software technologies and network management services for digital signage and interactive kiosk networks . note 3 . goodwill and intangible assets as discussed in note 16 to the consolidated financial statements , effective in the first quarter of 2007 , 3m made certain product moves between its business segments , which resulted in changes in the goodwill balances by business segment as presented below . for those changes that resulted in reporting unit changes , the company applied the relative fair value method to determine the impact to reporting units . sfas no . 142 , 201cgoodwill and other intangible assets , 201d requires that goodwill be tested for impairment at least annually and when reporting units are changed . purchased goodwill from acquisitions totaled $ 326 million in 2007 , $ 55 million of which is deductible for tax purposes . purchased goodwill from acquisitions totaled $ 536 million in 2006 , $ 41 million of which is deductible for tax purposes. .
Question: what was the percentage of the cash bought to total cash paid | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.77898 | Context:in 2017 , cash flows provided by operations increased $ 160 million , primarily due to an increase in net income after non-cash adjustments , including the impact of the enactment of the tcja , and an increase in cash flows from working capital . the main factors contributing to the net income increase are described in the 201cconsolidated results of operations 201d section and include higher operating revenues , partially offset by higher income taxes due to a $ 125 million re-measurement charge resulting from the impact of the change in the federal tax rate on the company 2019s deferred income taxes from the enactment of the tcja . the increase in non-cash activities was mainly attributable to the increase in deferred income taxes , as mentioned above , and an increase in depreciation and amortization due to additional utility plant placed in service . the change in working capital was principally due to ( i ) the timing of accounts payable and accrued liabilities , including the accrual recorded during 2016 for the binding global agreement in principle to settle claims associated with the freedom industries chemical spill in west virginia , ( ii ) a decrease in unbilled revenues as a result of our military services group achieving significant capital project milestones during 2016 , and ( iii ) a change in other current assets and liabilities , including the decrease in other current assets associated with the termination of our four forward starting swap agreements and timing of payments clearing our cash accounts . the company expects to make pension contributions to the plan trusts of up to $ 31 million in 2019 . in addition , we estimate that contributions will amount to $ 32 million , $ 29 million , $ 29 million and $ 29 million in 2020 , 2021 , 2022 and 2023 , respectively . actual amounts contributed could change materially from these estimates as a result of changes in assumptions and actual investment returns , among other factors . cash flows used in investing activities the following table provides a summary of the major items affecting our cash flows used in investing activities: .
|( in millions )|for the years ended december 31 , 2018|for the years ended december 31 , 2017|for the years ended december 31 , 2016|
|net capital expenditures|$ -1586 ( 1586 )|$ -1434 ( 1434 )|$ -1311 ( 1311 )|
|acquisitions|-398 ( 398 )|-177 ( 177 )|-204 ( 204 )|
|other investing activities net ( a )|-52 ( 52 )|-61 ( 61 )|-75 ( 75 )|
|net cash flows used in investing activities|$ -2036 ( 2036 )|$ -1672 ( 1672 )|$ -1590 ( 1590 )|
( a ) includes removal costs from property , plant and equipment retirements and proceeds from sale of assets . in 2018 and 2017 , cash flows used in investing activities increased primarily due to an increase in our regulated capital expenditures , principally from incremental investments associated with the replacement and renewal of our transmission and distribution infrastructure in our regulated businesses , as well as acquisitions in both our regulated businesses and market-based businesses , as discussed below . our infrastructure investment plan consists of both infrastructure renewal programs , where we replace infrastructure , as needed , and major capital investment projects , where we construct new water and wastewater treatment and delivery facilities to meet new customer growth and water quality regulations . our projected capital expenditures and other investments are subject to periodic review and revision to reflect changes in economic conditions and other factors. .
Question: in 2018 , what percentage of cash flows used in investing activities composed of net capital expenditures? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.06211 | Context:american tower corporation and subsidiaries notes to consolidated financial statements mexico litigation 2014one of the company 2019s subsidiaries , spectrasite communications , inc . ( 201csci 201d ) , is involved in a lawsuit brought in mexico against a former mexican subsidiary of sci ( the subsidiary of sci was sold in 2002 , prior to the company 2019s merger with sci 2019s parent in 2005 ) . the lawsuit concerns a terminated tower construction contract and related agreements with a wireless carrier in mexico . the primary issue for the company is whether sci itself can be found liable to the mexican carrier . the trial and lower appellate courts initially found that sci had no such liability in part because mexican courts do not have the necessary jurisdiction over sci . following several decisions by mexican appellate courts , including the supreme court of mexico , and related appeals by both parties , an intermediate appellate court issued a new decision that would , if enforceable , reimpose liability on sci in september 2010 . in its decision , the intermediate appellate court identified potential damages of approximately $ 6.7 million , and on october 14 , 2010 , the company filed a new constitutional appeal to again dispute the decision . as a result , at this stage of the proceeding , the company is unable to determine whether the liability imposed on sci by the september 2010 decision will survive or to estimate its share , if any , of that potential liability if the decision survives the pending appeal . xcel litigation 2014on june 3 , 2010 , horse-shoe capital ( 201chorse-shoe 201d ) , a company formed under the laws of the republic of mauritius , filed a complaint in the supreme court of the state of new york , new york county , with respect to horse-shoe 2019s sale of xcel to american tower mauritius ( 201catmauritius 201d ) , the company 2019s wholly-owned subsidiary formed under the laws of the republic of mauritius . the complaint names atmauritius , ati and the company as defendants , and the dispute concerns the timing and amount of distributions to be made by atmauritius to horse-shoe from a $ 7.5 million holdback escrow account and a $ 15.7 million tax escrow account , each established by the transaction agreements at closing . the complaint seeks release of the entire holdback escrow account , plus an additional $ 2.8 million , as well as the release of approximately $ 12.0 million of the tax escrow account . the complaint also seeks punitive damages in excess of $ 69.0 million . the company filed an answer to the complaint in august 2010 , disputing both the amounts alleged to be owed under the escrow agreements as well as the timing of the escrow distributions . the company also asserted in its answer that the demand for punitive damages is meritless . the parties have filed cross-motions for summary judgment concerning the release of the tax escrow account and in january 2011 the court granted the company 2019s motion for summary judgment , finding no obligation for the company to release the disputed portion of the tax escrow until 2013 . other claims are pending . the company is vigorously defending the lawsuit . 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 recognized on a straight-line basis over the non-cancellable term of the lease . future minimum rental payments under non-cancellable 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 , 2010 are as follows ( in thousands ) : year ending december 31 .
|2011|$ 257971|
|2012|254575|
|2013|251268|
|2014|246392|
|2015|238035|
|thereafter|2584332|
|total|$ 3832573|
.
Question: what was the percent of the total future minimum rental payments under non-cancellable that was due 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: |
19101082000.0 | Context:visa inc . notes to consolidated financial statements 2014 ( continued ) september 30 , 2008 ( in millions , except as noted ) were converted on a one-to-one basis from class eu ( series i , ii , iii ) common stock to class c ( series iii , ii , and iv ) common stock concurrent with the true-up . the results of the true-up are reflected in the table below . fractional shares resulting from the conversion of the shares of each individual stockholder have been rounded down . these fractional shares were paid in cash to stockholders as part of the initial redemption of class b common stock and class c common stock shortly following the ipo . outstanding regional classes and series of common stock issued in the reorganization converted classes and series of common stock issued in the true-up number of regional classes and series of common stock issued in the reorganization true-up conversion number of converted classes and series of common stock after the true-up class usa ( 1 ) class b ( 2 ) 426390481 0.93870 400251872 .
|outstanding regional classes and seriesof common stock issued inthe reorganization|converted classes and series of common stock issued in the true-up|number of regional classes and series of common stock issued in the reorganization|true-up conversion ratio|number of converted classes and series of common stock after the true-up|
|class usa ( 1 )|class b ( 2 )|426390481|0.93870|400251872|
|class eu ( series i )|class c ( series iii )|62213201|1.00000|62213201|
|class eu ( series ii )|class c ( series ii )|27904464|1.00000|27904464|
|class eu ( series iii )|class c ( series iv )|549587|1.00000|549587|
|class canada|class c ( series i )|22034685|0.98007|21595528|
|class ap|class c ( series i )|119100481|1.19043|141780635|
|class lac|class c ( series i )|80137915|1.07110|85835549|
|class cemea|class c ( series i )|36749698|0.95101|34949123|
( 1 ) the amount of the class usa common stock outstanding prior to the true-up is net of 131592008 shares held by wholly-owned subsidiaries of the company . ( 2 ) the amount of the class b common stock outstanding subsequent to the true-up is net of 123525418 shares held by wholly-owned subsidiaries of the company . also , the company issued 51844393 additional shares of class c ( series ii ) common stock at a price of $ 44 per share in exchange for a subscription receivable from visa europe . this issuance and subscription receivable were recorded as offsetting entries in temporary equity on the company 2019s consolidated balance sheet at september 30 , 2008 . initial public offering in march 2008 , the company completed its ipo with the issuance of 446600000 shares of class a common stock at a net offering price of $ 42.77 ( the ipo price of $ 44.00 per share of class a common stock , less underwriting discounts and commissions of $ 1.23 per share ) . the company received net proceeds of $ 19.1 billion as a result of the ipo. .
Question: what amount of net capital was raised by the company at the ipo with the issuance of class a common stock? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
1714285.71429 | Context:abiomed , inc . and subsidiaries notes to consolidated financial statements 2014 ( continued ) note 8 . stock award plans and stock-based compensation ( continued ) restricted stock and restricted stock units the following table summarizes restricted stock and restricted stock unit activity for the fiscal year ended march 31 , 2012 : number of shares ( in thousands ) weighted average grant date fair value ( per share ) .
||number of shares ( in thousands )|weighted average grant date fair value ( per share )|
|restricted stock and restricted stock units at beginning of year|407|$ 9.84|
|granted|607|18.13|
|vested|-134 ( 134 )|10.88|
|forfeited|-9 ( 9 )|13.72|
|restricted stock and restricted stock units at end of year|871|$ 15.76|
the remaining unrecognized compensation expense for outstanding restricted stock and restricted stock units , including performance-based awards , as of march 31 , 2012 was $ 7.1 million and the weighted-average period over which this cost will be recognized is 2.2 years . the weighted average grant-date fair value for restricted stock and restricted stock units granted during the years ended march 31 , 2012 , 2011 , and 2010 was $ 18.13 , $ 10.00 and $ 7.67 per share , respectively . the total fair value of restricted stock and restricted stock units vested in fiscal years 2012 , 2011 , and 2010 was $ 1.5 million , $ 1.0 million and $ 0.4 million , respectively . performance-based awards included in the restricted stock and restricted stock units activity discussed above are certain awards granted in fiscal years 2012 , 2011 and 2010 that vest subject to certain performance-based criteria . in june 2010 , 311000 shares of restricted stock and a performance-based award for the potential issuance of 45000 shares of common stock were issued to certain executive officers and members of senior management of the company , all of which would vest upon achievement of prescribed service milestones by the award recipients and performance milestones by the company . during the year ended march 31 , 2011 , the company determined that it met the prescribed performance targets and a portion of these shares and stock options vested . the remaining shares will vest upon satisfaction of prescribed service conditions by the award recipients . during the three months ended june 30 , 2011 , the company determined that it should have been using the graded vesting method instead of the straight-line method to expense stock-based compensation for the performance-based awards issued in june 2010 . this resulted in additional stock based compensation expense of approximately $ 0.6 million being recorded during the three months ended june 30 , 2011 that should have been recorded during the year ended march 31 , 2011 . the company believes that the amount is not material to its march 31 , 2011 consolidated financial statements and therefore recorded the adjustment in the quarter ended june 30 , 2011 . during the three months ended june 30 , 2011 , performance-based awards of restricted stock units for the potential issuance of 284000 shares of common stock were issued to certain executive officers and members of the senior management , all of which would vest upon achievement of prescribed service milestones by the award recipients and revenue performance milestones by the company . as of march 31 , 2012 , the company determined that it met the prescribed targets for 184000 shares underlying these awards and it believes it is probable that the prescribed performance targets will be met for the remaining 100000 shares , and the compensation expense is being recognized accordingly . during the year ended march 31 , 2012 , the company has recorded $ 3.3 million in stock-based compensation expense for equity awards in which the prescribed performance milestones have been achieved or are probable of being achieved . the remaining unrecognized compensation expense related to these equity awards at march 31 , 2012 is $ 3.6 million based on the company 2019s current assessment of probability of achieving the performance milestones . the weighted-average period over which this cost will be recognized is 2.1 years. .
Question: for equity awards where the performance criteria has been met in 2012 , what is the average compensation expense per year over which the cost will be expensed? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
1.625 | Context:the company recognizes the effect of income tax positions only if sustaining those positions is more likely than not . changes in recognition or measurement are reflected in the period in which a change in judgment occurs . the company records penalties and interest related to unrecognized tax benefits in income taxes in the company 2019s consolidated statements of income . changes in accounting principles business combinations and noncontrolling interests on january 1 , 2009 , the company adopted revised principles related to business combinations and noncontrolling interests . the revised principle on business combinations applies to all transactions or other events in which an entity obtains control over one or more businesses . it requires an acquirer to recognize the assets acquired , the liabilities assumed , and any noncontrolling interest in the acquiree at the acquisition date , measured at their fair values as of that date . business combinations achieved in stages require recognition of the identifiable assets and liabilities , as well as the noncontrolling interest in the acquiree , at the full amounts of their fair values when control is obtained . this revision also changes the requirements for recognizing assets acquired and liabilities assumed arising from contingencies , and requires direct acquisition costs to be expensed . in addition , it provides certain changes to income tax accounting for business combinations which apply to both new and previously existing business combinations . in april 2009 , additional guidance was issued which revised certain business combination guidance related to accounting for contingent liabilities assumed in a business combination . the company has adopted this guidance in conjunction with the adoption of the revised principles related to business combinations . the adoption of the revised principles related to business combinations has not had a material impact on the consolidated financial statements . the revised principle related to noncontrolling interests establishes accounting and reporting standards for the noncontrolling interests in a subsidiary and for the deconsolidation of a subsidiary . the revised principle clarifies that a noncontrolling interest in a subsidiary is an ownership interest in the consolidated entity that should be reported as a separate component of equity in the consolidated statements of financial position . the revised principle requires retrospective adjustments , for all periods presented , of stockholders 2019 equity and net income for noncontrolling interests . in addition to these financial reporting changes , the revised principle provides for significant changes in accounting related to changes in ownership of noncontrolling interests . changes in aon 2019s controlling financial interests in consolidated subsidiaries that do not result in a loss of control are accounted for as equity transactions similar to treasury stock transactions . if a change in ownership of a consolidated subsidiary results in a loss of control and deconsolidation , any retained ownership interests are remeasured at fair value with the gain or loss reported in net income . in previous periods , noncontrolling interests for operating subsidiaries were reported in other general expenses in the consolidated statements of income . prior period amounts have been restated to conform to the current year 2019s presentation . the principal effect on the prior years 2019 balance sheets related to the adoption of the new guidance related to noncontrolling interests is summarized as follows ( in millions ) : .
|as of december 31|2008|2007|
|equity as previously reported|$ 5310|$ 6221|
|increase for reclassification of non-controlling interests|105|40|
|equity as adjusted|$ 5415|$ 6261|
the revised principle also requires that net income be adjusted to include the net income attributable to the noncontrolling interests and a new separate caption for net income attributable to aon stockholders be presented in the consolidated statements of income . the adoption of this new guidance increased net income by $ 16 million and $ 13 million for 2008 and 2007 , respectively . net .
Question: what was the percentage change in the reclassification of non-controlling interests 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: |
0.3 | Context:the table below presents the estimated maximum potential var arising from a one-day loss in fair value for our interest rate , foreign currency , commodity , and equity market-risk-sensitive instruments outstanding as of may 26 , 2019 and may 27 , 2018 , and the average fair value impact during the year ended may 26 , 2019. .
|in millions|fair value impact may 26 2019|fair value impact averageduringfiscal 2019|fair value impact may 27 2018|
|interest rate instruments|$ 74.4|$ 46.1|$ 33.2|
|foreign currency instruments|16.8|19.0|21.3|
|commodity instruments|4.1|2.5|1.9|
|equity instruments|2.3|2.2|2.0|
.
Question: what is the change in fair value of equity instruments from 2018 to 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: |
209500000.0 | Context:acquisition added approximately 1700 water customers and nearly 2000 wastewater customers . the tex as assets served approximately 4200 water and 1100 wastewater customers in the greater houston metropolitan as noted above , as a result of these sales , these regulated subsidiaries are presented as discontinued operations for all periods presented . therefore , the amounts , statistics and tables presented in this section refer only to on-going operations , unless otherwise noted . the following table sets forth our regulated businesses operating revenue for 2013 and number of customers from continuing operations as well as an estimate of population served as of december 31 , 2013 : operating revenues ( in millions ) % ( % ) of total number of customers % ( % ) of total estimated population served ( in millions ) % ( % ) of total .
|new jersey|operatingrevenues ( in millions ) $ 638.0|% ( % ) of total 24.6% ( 24.6 % )|number ofcustomers 647168|% ( % ) of total 20.1% ( 20.1 % )|estimatedpopulationserved ( in millions ) 2.5|% ( % ) of total 21.7% ( 21.7 % )|
|pennsylvania|571.2|22.0% ( 22.0 % )|666947|20.7% ( 20.7 % )|2.1|18.3% ( 18.3 % )|
|missouri|264.8|10.2% ( 10.2 % )|464232|14.4% ( 14.4 % )|1.5|13.1% ( 13.1 % )|
|illinois ( a )|261.7|10.1% ( 10.1 % )|311464|9.7% ( 9.7 % )|1.2|10.4% ( 10.4 % )|
|california|209.5|8.1% ( 8.1 % )|173986|5.4% ( 5.4 % )|0.6|5.2% ( 5.2 % )|
|indiana|199.2|7.7% ( 7.7 % )|293345|9.1% ( 9.1 % )|1.2|10.4% ( 10.4 % )|
|west virginia ( b )|124.2|4.8% ( 4.8 % )|173208|5.4% ( 5.4 % )|0.6|5.2% ( 5.2 % )|
|subtotal ( top seven states )|2268.6|87.5% ( 87.5 % )|2730350|84.8% ( 84.8 % )|9.7|84.3% ( 84.3 % )|
|other ( c )|325.3|12.5% ( 12.5 % )|489149|15.2% ( 15.2 % )|1.8|15.7% ( 15.7 % )|
|total regulated businesses|$ 2593.9|100.0% ( 100.0 % )|3219499|100.0% ( 100.0 % )|11.5|100.0% ( 100.0 % )|
( a ) includes illinois-american water company , which we refer to as ilawc and american lake water company , also a regulated subsidiary in illinois . ( b ) west virginia-american water company , which we refer to as wvawc , and its subsidiary bluefield valley water works company . ( c ) includes data from our operating subsidiaries in the following states : georgia , hawaii , iowa , kentucky , maryland , michigan , new york , tennessee , and virginia . approximately 87.5 % ( % ) of operating revenue from our regulated businesses in 2013 was generated from approximately 2.7 million customers in our seven largest states , as measured by operating revenues . in fiscal year 2013 , no single customer accounted for more than 10% ( 10 % ) of our annual operating revenue . overview of networks , facilities and water supply our regulated businesses operate in approximately 1500 communities in 16 states in the united states . our primary operating assets include 87 dams along with approximately 80 surface water treatment plants , 500 groundwater treatment plants , 1000 groundwater wells , 100 wastewater treatment facilities , 1200 treated water storage facilities , 1300 pumping stations , and 47000 miles of mains and collection pipes . our regulated utilities own substantially all of the assets used by our regulated businesses . we generally own the land and physical assets used to store , extract and treat source water . typically , we do not own the water itself , which is held in public trust and is allocated to us through contracts and allocation rights granted by federal and state agencies or through the ownership of water rights pursuant to local law . maintaining the reliability of our networks is a key activity of our regulated businesses . we have ongoing infrastructure renewal programs in all states in which our regulated businesses operate . these programs consist of both rehabilitation of existing mains and replacement of mains that have reached the end of their useful service lives . our ability to meet the existing and future water demands of our customers depends on an adequate supply of water . drought , governmental restrictions , overuse of sources of water , the protection of threatened species or .
Question: what is the average annual revenue per customer in california? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.53147 | Context:when the likelihood of clawback is considered mathematically improbable . the company records a deferred carried interest liability to the extent it receives cash or capital allocations related to carried interest prior to meeting the revenue recognition criteria . at december 31 , 2017 and 2016 , the company had $ 219 million and $ 152 million , respectively , of deferred carried interest recorded in other liabilities/other liabilities of consolidated vies on the consolidated statements of financial condition . a portion of the deferred carried interest liability will be paid to certain employees . the ultimate timing of the recognition of performance fee revenue , if any , for these products is unknown . the following table presents changes in the deferred carried interest liability ( including the portion related to consolidated vies ) for 2017 and 2016: .
|( in millions )|2017|2016|
|beginning balance|$ 152|$ 143|
|net increase ( decrease ) in unrealized allocations|75|37|
|performance fee revenue recognized|-21 ( 21 )|-28 ( 28 )|
|acquisition|13|2014|
|ending balance|$ 219|$ 152|
for 2017 , 2016 and 2015 , performance fee revenue ( which included recognized carried interest ) totaled $ 594 million , $ 295 million and $ 621 million , respectively . fees earned for technology and risk management revenue are recorded as services are performed and are generally determined using the value of positions on the aladdin platform or on a fixed-rate basis . for 2017 , 2016 and 2016 , technology and risk management revenue totaled $ 677 million , $ 595 million and $ 528 million , respectively . adjustments to revenue arising from initial estimates recorded historically have been immaterial since the majority of blackrock 2019s investment advisory and administration revenue is calculated based on aum and since the company does not record performance fee revenue until performance thresholds have been exceeded and the likelihood of clawback is mathematically improbable . accounting developments recent accounting pronouncements not yet adopted . revenue from contracts with customers . in may 2014 , the financial accounting standards board ( 201cfasb 201d ) issued accounting standards update ( 201casu 201d ) 2014-09 , revenue from contracts with customers ( 201casu 2014-09 201d ) . asu 2014-09 outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance , including industry-specific guidance . the guidance also changes the accounting for certain contract costs and revises the criteria for determining if an entity is acting as a principal or agent in certain arrangements . the key changes in the standard that impact the company 2019s revenue recognition relate to the presentation of certain revenue contracts and associated contract costs . the most significant of these changes relates to the presentation of certain distribution costs , which are currently presented net against revenues ( contra-revenue ) and will be presented as an expense on a gross basis . the company adopted asu 2014-09 effective january 1 , 2018 on a full retrospective basis , which will require 2016 and 2017 to be restated in future filings . the cumulative effect adjustment to the 2016 opening retained earnings was not material . the company currently expects the net gross up to revenue to be approximately $ 1 billion with a corresponding gross up to expense for both 2016 and 2017 . consequently , the company expects its gaap operating margin to decline upon adoption due to the gross up of revenue . however , no material impact is expected on the company 2019s as adjusted operating margin . for accounting pronouncements that the company adopted during the year ended december 31 , 2017 and for additional recent accounting pronouncements not yet adopted , see note 2 , significant accounting policies , in the consolidated financial statements contained in part ii , item 8 of this filing . item 7a . quantitative and qualitative disclosures about market risk aum market price risk . blackrock 2019s investment advisory and administration fees are primarily comprised of fees based on a percentage of the value of aum and , in some cases , performance fees expressed as a percentage of the returns realized on aum . at december 31 , 2017 , the majority of the company 2019s investment advisory and administration fees were based on average or period end aum of the applicable investment funds or separate accounts . movements in equity market prices , interest rates/credit spreads , foreign exchange rates or all three could cause the value of aum to decline , which would result in lower investment advisory and administration fees . corporate investments portfolio risks . as a leading investment management firm , blackrock devotes significant resources across all of its operations to identifying , measuring , monitoring , managing and analyzing market and operating risks , including the management and oversight of its own investment portfolio . the board of directors of the company has adopted guidelines for the review of investments to be made by the company , requiring , among other things , that investments be reviewed by certain senior officers of the company , and that certain investments may be referred to the audit committee or the board of directors , depending on the circumstances , for approval . in the normal course of its business , blackrock is exposed to equity market price risk , interest rate/credit spread risk and foreign exchange rate risk associated with its corporate investments . blackrock has investments primarily in sponsored investment products that invest in a variety of asset classes , including real assets , private equity and hedge funds . investments generally are made for co-investment purposes , to establish a performance track record , to hedge exposure to certain deferred compensation plans or for regulatory purposes . currently , the company has a seed capital hedging program in which it enters into swaps to hedge market and interest rate exposure to certain investments . at december 31 , 2017 , the company had outstanding total return swaps with an aggregate notional value of approximately $ 587 million . at december 31 , 2017 , there were no outstanding interest rate swaps. .
Question: what percent did the balance increase from the beginning of 2016 to the end of 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: |
0.0252 | Context:the goldman sachs group , inc . and subsidiaries management 2019s discussion and analysis scenario analyses . we conduct various scenario analyses including as part of the comprehensive capital analysis and review ( ccar ) and dodd-frank act stress tests ( dfast ) , as well as our resolution and recovery planning . see 201cequity capital management and regulatory capital 2014 equity capital management 201d below for further information about these scenario analyses . these scenarios cover short-term and long-term time horizons using various macroeconomic and firm-specific assumptions , based on a range of economic scenarios . we use these analyses to assist us in developing our longer-term balance sheet management strategy , including the level and composition of assets , funding and equity capital . additionally , these analyses help us develop approaches for maintaining appropriate funding , liquidity and capital across a variety of situations , including a severely stressed environment . balance sheet allocation in addition to preparing our consolidated statements of financial condition in accordance with u.s . gaap , we prepare a balance sheet that generally allocates assets to our businesses , which is a non-gaap presentation and may not be comparable to similar non-gaap presentations used by other companies . we believe that presenting our assets on this basis is meaningful because it is consistent with the way management views and manages risks associated with our assets and better enables investors to assess the liquidity of our assets . the table below presents our balance sheet allocation. .
|$ in millions|as of december 2016|as of december 2015|
|global core liquid assets ( gcla )|$ 226066|$ 199120|
|other cash|9088|9180|
|gcla and cash|235154|208300|
|secured client financing|199387|221325|
|inventory|206988|208836|
|secured financing agreements|65606|63495|
|receivables|29592|39976|
|institutional client services|302186|312307|
|public equity|3224|3991|
|private equity|18224|16985|
|debt|21675|23216|
|loans receivable|49672|45407|
|other|5162|4646|
|investing & lending|97957|94245|
|total inventory and relatedassets|400143|406552|
|other assets|25481|25218|
|total assets|$ 860165|$ 861395|
the following is a description of the captions in the table above : 2030 global core liquid assets and cash . we maintain liquidity to meet a broad range of potential cash outflows and collateral needs in a stressed environment . see 201cliquidity risk management 201d below for details on the composition and sizing of our 201cglobal core liquid assets 201d ( gcla ) . in addition to our gcla , we maintain other unrestricted operating cash balances , primarily for use in specific currencies , entities , or jurisdictions where we do not have immediate access to parent company liquidity . 2030 secured client financing . we provide collateralized financing for client positions , including margin loans secured by client collateral , securities borrowed , and resale agreements primarily collateralized by government obligations . we segregate cash and securities for regulatory and other purposes related to client activity . securities are segregated from our own inventory as well as from collateral obtained through securities borrowed or resale agreements . our secured client financing arrangements , which are generally short-term , are accounted for at fair value or at amounts that approximate fair value , and include daily margin requirements to mitigate counterparty credit risk . 2030 institutional client services . in institutional client services , we maintain inventory positions to facilitate market making in fixed income , equity , currency and commodity products . additionally , as part of market- making activities , we enter into resale or securities borrowing arrangements to obtain securities or use our own inventory to cover transactions in which we or our clients have sold securities that have not yet been purchased . the receivables in institutional client services primarily relate to securities transactions . 2030 investing & lending . in investing & lending , we make investments and originate loans to provide financing to clients . these investments and loans are typically longer- term in nature . we make investments , directly and indirectly through funds that we manage , in debt securities , loans , public and private equity securities , infrastructure , real estate entities and other investments . we also make unsecured loans to individuals through our online platform . debt includes $ 14.23 billion and $ 17.29 billion as of december 2016 and december 2015 , respectively , of direct loans primarily extended to corporate and private wealth management clients that are accounted for at fair value . loans receivable is comprised of loans held for investment that are accounted for at amortized cost net of allowance for loan losses . see note 9 to the consolidated financial statements for further information about loans receivable . goldman sachs 2016 form 10-k 67 .
Question: what is the debt-to-total asset ratio in 2016? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
1.21766 | Context:as described above , the borrowings are extended on a non-recourse basis . as such , there is no credit or market risk exposure to us on the assets , and as a result the terms of the amlf permit exclusion of the assets from regulatory leverage and risk-based capital calculations . the interest rate on the borrowings is set by the federal reserve bank , and we earn net interest revenue by earning a spread on the difference between the yield we earn on the assets and the rate we pay on the borrowings . for 2008 , we earned net interest revenue associated with this facility of approximately $ 68 million . separately , we currently maintain a commercial paper program under which we can issue up to $ 3 billion with original maturities of up to 270 days from the date of issue . at december 31 , 2008 and 2007 , $ 2.59 billion and $ 2.36 billion , respectively , of commercial paper were outstanding . in addition , state street bank currently has board authority to issue bank notes up to an aggregate of $ 5 billion , including up to $ 2.48 billion of senior notes under the fdic 2019s temporary liquidity guarantee program , instituted by the fdic in october 2008 for qualified senior debt issued through june 30 , 2009 , and up to $ 1 billion of subordinated bank notes ( see note 10 ) . at december 31 , 2008 and 2007 , no notes payable were outstanding , and at december 31 , 2008 , all $ 5 billion was available for issuance . state street bank currently maintains a line of credit of cad $ 800 million , or approximately $ 657 million , to support its canadian securities processing operations . the line of credit has no stated termination date and is cancelable by either party with prior notice . at december 31 , 2008 , no balance was due on this line of credit . note 9 . restructuring charges in december 2008 , we implemented a plan to reduce our expenses from operations and support our long- term growth . in connection with this plan , we recorded aggregate restructuring charges of $ 306 million in our consolidated statement of income . the primary component of the plan was an involuntary reduction of approximately 7% ( 7 % ) of our global workforce , which reduction we expect to be substantially completed by the end of the first quarter of 2009 . other components of the plan included costs related to lease and software license terminations , restructuring of agreements with technology providers and other costs . of the aggregate restructuring charges of $ 306 million , $ 243 million related to severance , a portion of which will be paid in a lump sum or over a defined period , and a portion of which will provide related benefits and outplacement services for approximately 2100 employees identified for involuntary termination in connection with the plan ; $ 49 million related to future lease obligations and write-offs of capitalized assets , including $ 23 million for impairment of other intangible assets ; $ 10 million of costs associated with information technology and $ 4 million of other restructuring costs . the severance component included $ 47 million related to accelerated vesting of equity-based compensation . in december 2008 , approximately 620 employees were involuntarily terminated and left state street . the following table presents the activity in the related balance sheet reserve for 2008 . ( in millions ) severance lease and write-offs information technology other total .
|( in millions )|severance|lease and asset write-offs|information technology|other|total|
|initial accrual|$ 250|$ 42|$ 10|$ 4|$ 306|
|payments and adjustments|-20 ( 20 )|-25 ( 25 )|-10 ( 10 )|-1 ( 1 )|-56 ( 56 )|
|balance at december 31 2008|$ 230|$ 17|2014|$ 3|$ 250|
.
Question: what value of cad is equal to $ 1 usd? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
116.84 | Context:management 2019s discussion and analysis value of the company 2019s obligation relating to asbestos claims under the ppg settlement arrangement . the legal settlements net of insurance included aftertax charges of $ 80 million for the marvin legal settlement , net of insurance recoveries of $ 11 million , and $ 37 million for the impact of the federal glass class action antitrust legal settlement . results of reportable business segments net sales segment income ( millions ) 2006 2005 2006 2005 .
|( millions )|net sales 2006|net sales 2005|net sales 2006|2005|
|industrial coatings|$ 3236|$ 2921|$ 349|$ 284|
|performance and applied coatings|3088|2668|514|464|
|optical and specialty materials|1001|867|223|158|
|commodity chemicals|1483|1531|285|313|
|glass|2229|2214|148|123|
industrial coatings sales increased $ 315 million or 11% ( 11 % ) in 2006 . sales increased 4% ( 4 % ) due to acquisitions , 4% ( 4 % ) due to increased volumes in the automotive , industrial and packaging coatings operating segments , 2% ( 2 % ) due to higher selling prices , particularly in the industrial and packaging coatings businesses and 1% ( 1 % ) due to the positive effects of foreign currency translation . segment income increased $ 65 million in 2006 . the increase in segment income was primarily due to the impact of increased sales volume , lower overhead and manufacturing costs , and the impact of acquisitions . segment income was reduced by the adverse impact of inflation , which was substantially offset by higher selling prices . performance and applied coatings sales increased $ 420 million or 16% ( 16 % ) in 2006 . sales increased 8% ( 8 % ) due to acquisitions , 4% ( 4 % ) due to higher selling prices in the refinish , aerospace and architectural coatings operating segments , 3% ( 3 % ) due to increased volumes in our aerospace and architectural coatings businesses and 1% ( 1 % ) due to the positive effects of foreign currency translation . segment income increased $ 50 million in 2006 . the increase in segment income was primarily due to the impact of increased sales volume and higher selling prices , which more than offset the impact of inflation . segment income was reduced by increased overhead costs to support growth in our architectural coatings business . optical and specialty materials sales increased $ 134 million or 15% ( 15 % ) in 2006 . sales increased 10% ( 10 % ) due to higher volumes , particularly in optical products and fine chemicals and 5% ( 5 % ) due to acquisitions in our optical products business . segment income increased $ 65 million in 2006 . the absence of the 2005 charge for an asset impairment in our fine chemicals business increased segment income by $ 27 million . the remaining $ 38 million increase in segment income was primarily due to increased volumes , lower manufacturing costs , and the absence of the 2005 hurricane costs of $ 3 million , net of 2006 insurance recoveries , which were only partially offset by increased overhead costs in our optical products business to support growth and the negative impact of inflation . commodity chemicals sales decreased $ 48 million or 3% ( 3 % ) in 2006 . sales decreased 4% ( 4 % ) due to lower chlor-alkali volumes and increased 1% ( 1 % ) due to higher selling prices . segment income decreased $ 28 million in 2006 . the year- over-year decline in segment income was due primarily to lower sales volumes and higher manufacturing costs associated with reduced production levels . the absence of the 2005 charges for direct costs related to hurricanes increased segment income by $ 29 million . the impact of higher selling prices ; lower inflation , primarily natural gas costs , and an insurance recovery of $ 10 million related to the 2005 hurricane losses also increased segment income in 2006 . our fourth-quarter chlor-alkali sales volumes and earnings were negatively impacted by production outages at several customers over the last two months of 2006 . it is uncertain when some of these customers will return to a normal level of production which may impact the sales and earnings of our chlor-alkali business in early 2007 . glass sales increased $ 15 million or 1% ( 1 % ) in 2006 . sales increased 1% ( 1 % ) due to improved volumes resulting from a combination of organic growth and an acquisition . a slight positive impact on sales due to foreign currency translation offset a slight decline in pricing . volumes increased in the performance glazings , automotive replacement glass and services and fiber glass businesses . automotive oem glass volume declined during 2006 . pricing was also up in performance glazings , but declined in the other glass businesses . segment income increased $ 25 million in 2006 . this increase in segment income was primarily the result of higher equity earnings from our asian fiber glass joint ventures , higher royalty income and lower manufacturing and natural gas costs , which more than offset the negative impacts of higher inflation , lower margin mix of sales and reduced selling prices . our fiber glass operating segment made progress during 2006 in achieving our multi-year plan to improve profitability and cash flow . a transformation of our supply chain , which includes production of a more focused product mix at each manufacturing plant , manufacturing cost reduction initiatives and improved equity earnings from our asian joint ventures are the primary focus and represent the critical success factors in this plan . during 2006 , our new joint venture in china started producing high labor content fiber glass reinforcement products , which will allow us to refocus our u.s . production capacity on higher margin , direct process products . the 2006 earnings improvement by our fiber glass operating segment accounted for the bulk of the 2006 improvement in the glass reportable business segment income . 20 2006 ppg annual report and form 10-k 4282_txt .
Question: what was the volume impact on sales in the industrial coatings segment ( 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: |
341489.3617 | Context:american tower corporation and subsidiaries notes to consolidated financial statements ( 3 ) consists of customer-related intangibles of approximately $ 75.0 million and network location intangibles of approximately $ 72.7 million . the customer-related intangibles and network location intangibles are being amortized on a straight-line basis over periods of up to 20 years . ( 4 ) the company expects that the goodwill recorded will be deductible for tax purposes . the goodwill was allocated to the company 2019s international rental and management segment . on september 12 , 2012 , the company entered into a definitive agreement to purchase up to approximately 348 additional communications sites from telef f3nica mexico . on september 27 , 2012 and december 14 , 2012 , the company completed the purchase of 279 and 2 communications sites , for an aggregate purchase price of $ 63.5 million ( including value added tax of $ 8.8 million ) . the following table summarizes the preliminary allocation of the aggregate purchase consideration paid and the amounts of assets acquired and liabilities assumed based upon their estimated fair value at the date of acquisition ( in thousands ) : preliminary purchase price allocation .
||preliminary purchase price allocation|
|current assets|$ 8763|
|non-current assets|2332|
|property and equipment|26711|
|intangible assets ( 1 )|21079|
|other non-current liabilities|-1349 ( 1349 )|
|fair value of net assets acquired|$ 57536|
|goodwill ( 2 )|5998|
( 1 ) consists of customer-related intangibles of approximately $ 10.7 million and network location intangibles of approximately $ 10.4 million . the customer-related intangibles and network location intangibles are being amortized on a straight-line basis over periods of up to 20 years . ( 2 ) the company expects that the goodwill recorded will be deductible for tax purposes . the goodwill was allocated to the company 2019s international rental and management segment . on november 16 , 2012 , the company entered into an agreement to purchase up to 198 additional communications sites from telef f3nica mexico . on december 14 , 2012 , the company completed the purchase of 188 communications sites , for an aggregate purchase price of $ 64.2 million ( including value added tax of $ 8.9 million ) . .
Question: for the december 14 , 2012 purchase , what was the average cost of the communications sites acquired? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.67655 | Context:) increased net cash flows from receivables from improved days sales outstanding offsetting increased sales levels ; partially offset by reduced cash flows from increases in inventories to build new product lines and support increased sales levels . cash provided by operating activities in 2003 decreased $ 8.4 million from 2002 due primarily to : ) reduced cash inflows from accounts receivable securitization ; and ) reduced cash inflows from increases in inventories partially offset by : ) higher earnings in 2003 before non-cash charges and credits ; ) decreased net cash outflows from accounts and other receivables ; and ) decreased net cash outflows from accounts payable and accrued expenses . net cash used in investing activities in 2004 consisted primarily of the acquisition of pvt and the purchase of ev3 2019s technology of $ 137.7 million , and capital expenditures of $ 42.5 million . net cash used in investing activities in 2003 consisted primarily of the acquisition of jomed , whitland and embol-x , inc . of $ 33.2 million , and capital expenditures of $ 37.9 million . net cash used in financing activities in 2004 consisted primarily of purchases of treasury stock of $ 59.1 million , partially offset by proceeds from stock plans of $ 30.5 million and net proceeds from issuance of long-term debt of $ 7.1 million . cash used in financing activities in 2003 consisted primarily of purchases of treasury stock of $ 49.4 million and net payments on debt of $ 4.0 million , partially offset by proceeds from stock plans of $ 36.6 million . a summary of all of the company 2019s contractual obligations and commercial commitments as of december 31 , 2004 were as follows ( in millions ) : .
|contractual obligations|payments due by period total|payments due by period less than 1 year|payments due by period 1-3 years|payments due by period 4-5 years|payments due by period after 5 years|
|long-term debt|$ 267.1|$ 2014|$ 2014|$ 2014|$ 267.1|
|interest on long-term debt|30.9|11.2|15.4|4.3|2014|
|operating leases|49.8|13.1|20.4|15.2|1.1|
|unconditional purchase obligations ( a )|15.1|7.5|7.6|2014|2014|
|contractual development obligations ( b )|31.9|4.3|3.6|4.0|20.0|
|total contractual cash obligations|$ 394.8|$ 36.1|$ 47.0|$ 23.5|$ 288.2|
less than after contractual obligations total 1 year 1-3 years 4-5 years 5 years long-term debt *************************** $ 267.1 $ 2014 $ 2014 $ 2014 $ 267.1 interest on long-term debt ****************** 30.9 11.2 15.4 4.3 2014 operating leases*************************** 49.8 13.1 20.4 15.2 1.1 unconditional purchase obligations ( a ) ********* 15.1 7.5 7.6 2014 2014 contractual development obligations ( b ) ******** 31.9 4.3 3.6 4.0 20.0 total contractual cash obligations************* $ 394.8 $ 36.1 $ 47.0 $ 23.5 $ 288.2 ( a ) unconditional purchase obligations consist primarily of minimum purchase commitments of inventory . ( b ) contractual development obligations consist primarily of cash that edwards lifesciences is obligated to pay to unconsolidated affiliates upon their achievement of product development milestones . critical accounting policies and estimates the company 2019s results of operations and financial position are determined based upon the application of the company 2019s accounting policies , as discussed in the notes to the consolidated financial statements . certain of the company 2019s accounting policies represent a selection among acceptable alternatives under generally accepted .
Question: what percent of total contractual cash obligations is due to long-term debt? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.12034 | Context:the goldman sachs group , inc . and subsidiaries management 2019s discussion and analysis 2018 versus 2017 . provision for credit losses in the consolidated statements of earnings was $ 674 million for 2018 , compared with $ 657 million for 2017 , as the higher provision for credit losses primarily related to consumer loan growth in 2018 was partially offset by an impairment of approximately $ 130 million on a secured loan in 2017 . 2017 versus 2016 . provision for credit losses in the consolidated statements of earnings was $ 657 million for 2017 , compared with $ 182 million for 2016 , reflecting an increase in impairments , which included an impairment of approximately $ 130 million on a secured loan in 2017 , and higher provision for credit losses primarily related to consumer loan growth . operating expenses our operating expenses are primarily influenced by compensation , headcount and levels of business activity . compensation and benefits includes salaries , discretionary compensation , amortization of equity awards and other items such as benefits . discretionary compensation is significantly impacted by , among other factors , the level of net revenues , overall financial performance , prevailing labor markets , business mix , the structure of our share-based compensation programs and the external environment . in addition , see 201cuse of estimates 201d for further information about expenses that may arise from litigation and regulatory proceedings . the table below presents operating expenses by line item and headcount. .
|$ in millions|year ended december 2018|year ended december 2017|year ended december 2016|
|compensation and benefits|$ 12328|$ 11653|$ 11448|
|brokerage clearing exchange and distribution fees|3200|2876|2823|
|market development|740|588|457|
|communications and technology|1023|897|809|
|depreciation and amortization|1328|1152|998|
|occupancy|809|733|788|
|professional fees|1214|1165|1081|
|other expenses|2819|1877|1900|
|total operating expenses|$ 23461|$ 20941|$ 20304|
|headcount atperiod-end|36600|33600|32400|
in the table above , the following reclassifications have been made to previously reported amounts to conform to the current presentation : 2030 regulatory-related fees that are paid to exchanges are now reported in brokerage , clearing , exchange and distribution fees . previously such amounts were reported in other expenses . 2030 headcount consists of our employees , and excludes consultants and temporary staff previously reported as part of total staff . as a result , expenses related to these consultants and temporary staff are now reported in professional fees . previously such amounts were reported in compensation and benefits expenses . 2018 versus 2017 . operating expenses in the consolidated statements of earnings were $ 23.46 billion for 2018 , 12% ( 12 % ) higher than 2017 . our efficiency ratio ( total operating expenses divided by total net revenues ) for 2018 was 64.1% ( 64.1 % ) , compared with 64.0% ( 64.0 % ) for 2017 . the increase in operating expenses compared with 2017 was primarily due to higher compensation and benefits expenses , reflecting improved operating performance , and significantly higher net provisions for litigation and regulatory proceedings . brokerage , clearing , exchange and distribution fees were also higher , reflecting an increase in activity levels , and technology expenses increased , reflecting higher expenses related to computing services . in addition , expenses related to consolidated investments and our digital lending and deposit platform increased , with the increases primarily in depreciation and amortization expenses , market development expenses and other expenses . the increase compared with 2017 also included $ 297 million related to the recently adopted revenue recognition standard . see note 3 to the consolidated financial statements for further information about asu no . 2014-09 , 201crevenue from contracts with customers ( topic 606 ) . 201d net provisions for litigation and regulatory proceedings for 2018 were $ 844 million compared with $ 188 million for 2017 . 2018 included a $ 132 million charitable contribution to goldman sachs gives , our donor-advised fund . compensation was reduced to fund this charitable contribution to goldman sachs gives . we ask our participating managing directors to make recommendations regarding potential charitable recipients for this contribution . as of december 2018 , headcount increased 9% ( 9 % ) compared with december 2017 , reflecting an increase in technology professionals and investments in new business initiatives . 2017 versus 2016 . operating expenses in the consolidated statements of earnings were $ 20.94 billion for 2017 , 3% ( 3 % ) higher than 2016 . our efficiency ratio for 2017 was 64.0% ( 64.0 % ) compared with 65.9% ( 65.9 % ) for 2016 . the increase in operating expenses compared with 2016 was primarily driven by slightly higher compensation and benefits expenses and our investments to fund growth . higher expenses related to consolidated investments and our digital lending and deposit platform were primarily included in depreciation and amortization expenses , market development expenses and other expenses . in addition , technology expenses increased , reflecting higher expenses related to cloud-based services and software depreciation , and professional fees increased , primarily related to consulting costs . these increases were partially offset by lower net provisions for litigation and regulatory proceedings , and lower occupancy expenses ( primarily related to exit costs in 2016 ) . 54 goldman sachs 2018 form 10-k .
Question: what is the growth rate in operating expenses in 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: |
28824.07407 | Context:table of contents certain 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 dispatchers 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 2016 forecasted mainline and regional fuel consumption , we estimate that , as of december 31 , 2015 , a one cent per gallon increase in aviation fuel price would increase our 2016 annual fuel expense by $ 44 million . the following table shows annual aircraft fuel consumption and costs , including taxes , for our mainline operations for 2015 and 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 pergallon|aircraft fuel expense|percent of total mainline operating expenses|
|2015|3611|$ 1.72|$ 6226|21.6% ( 21.6 % )|
|2014|3644|2.91|10592|33.2% ( 33.2 % )|
total fuel expenses for our wholly-owned and third-party regional carriers operating under capacity purchase agreements of american were $ 1.2 billion and $ 2.0 billion for the years ended december 31 , 2015 and 2014 , respectively . as of december 31 , 2015 , we did not have any fuel hedging contracts outstanding to hedge our fuel consumption . as such , and assuming we do not enter into any future transactions to hedge our fuel consumption , we will continue to be fully exposed to fluctuations in fuel prices . our current policy is not to enter into transactions to hedge our fuel consumption , although we review that policy from time to time based on market conditions and other factors . fuel prices have fluctuated substantially over the past several years . we cannot predict the future availability , price volatility or cost of aircraft fuel . natural disasters , political disruptions or wars involving oil-producing countries , changes in fuel-related governmental policy , the strength of the u.s . dollar against foreign currencies , changes in access to petroleum product pipelines and terminals , speculation in the energy futures markets , changes in aircraft fuel production capacity , environmental concerns and other unpredictable events may result in fuel supply shortages , additional fuel price volatility and cost increases in the future . see part i , item 1a . risk factors 2013 201cour business is dependent on the price and availability of aircraft fuel . continued periods of high volatility in fuel costs , increased fuel prices and significant disruptions in the supply of aircraft fuel could have a significant negative impact on our operating results and liquidity . 201d insurance we maintain insurance of the types that we believe are customary in the airline industry , including insurance for public liability , passenger liability , property damage , and all-risk coverage for damage to our aircraft . principal coverage includes liability for injury to members of the public , including passengers , damage to .
Question: what was total mainline operating expenses for 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: |
-0.09537 | Context:2011 compared to 2010 mfc 2019s net sales for 2011 increased $ 533 million , or 8% ( 8 % ) , compared to 2010 . the increase was attributable to higher volume of about $ 420 million on air and missile defense programs ( primarily pac-3 and thaad ) ; and about $ 245 million from fire control systems programs primarily related to the sof clss program , which began late in the third quarter of 2010 . partially offsetting these increases were lower net sales due to decreased volume of approximately $ 75 million primarily from various services programs and approximately $ 20 million from tactical missile programs ( primarily mlrs and jassm ) . mfc 2019s operating profit for 2011 increased $ 96 million , or 10% ( 10 % ) , compared to 2010 . the increase was attributable to higher operating profit of about $ 60 million for air and missile defense programs ( primarily pac-3 and thaad ) as a result of increased volume and retirement of risks ; and approximately $ 25 million for various services programs . adjustments not related to volume , including net profit rate adjustments described above , were approximately $ 35 million higher in 2011 compared to 2010 . backlog backlog increased in 2012 compared to 2011 mainly due to increased orders and lower sales on fire control systems programs ( primarily lantirn ae and sniper ae ) and on various services programs , partially offset by lower orders and higher sales volume on tactical missiles programs . backlog increased in 2011 compared to 2010 primarily due to increased orders on air and missile defense programs ( primarily thaad ) . trends we expect mfc 2019s net sales for 2013 will be comparable with 2012 . we expect low double digit percentage growth in air and missile defense programs , offset by an expected decline in volume on logistics services programs . operating profit and margin are expected to be comparable with 2012 results . mission systems and training our mst business segment provides surface ship and submarine combat systems ; sea and land-based missile defense systems ; radar systems ; mission systems and sensors for rotary and fixed-wing aircraft ; littoral combat ships ; simulation and training services ; unmanned technologies and platforms ; ship systems integration ; and military and commercial training systems . mst 2019s major programs include aegis , mk-41 vertical launching system ( vls ) , tpq-53 radar system , mh-60 , lcs , and ptds . mst 2019s operating results included the following ( in millions ) : .
||2012|2011|2010|
|net sales|$ 7579|$ 7132|$ 7443|
|operating profit|737|645|713|
|operating margins|9.7% ( 9.7 % )|9.0% ( 9.0 % )|9.6% ( 9.6 % )|
|backlog at year-end|10700|10500|10600|
2012 compared to 2011 mst 2019s net sales for 2012 increased $ 447 million , or 6% ( 6 % ) , compared to 2011 . the increase in net sales for 2012 was attributable to higher volume and risk retirements of approximately $ 395 million from ship and aviation system programs ( primarily ptds ; lcs ; vls ; and mh-60 ) ; about $ 115 million for training and logistics solutions programs primarily due to net sales from sim industries , which was acquired in the fourth quarter of 2011 ; and approximately $ 30 million as a result of increased volume on integrated warfare systems and sensors programs ( primarily aegis ) . partially offsetting the increases were lower net sales of approximately $ 70 million from undersea systems programs due to lower volume on an international combat system program and towed array systems ; and about $ 25 million due to lower volume on various other programs . mst 2019s operating profit for 2012 increased $ 92 million , or 14% ( 14 % ) , compared to 2011 . the increase was attributable to higher operating profit of approximately $ 175 million from ship and aviation system programs , which reflects higher volume and risk retirements on certain programs ( primarily vls ; ptds ; mh-60 ; and lcs ) and reserves of about $ 55 million for contract cost matters on ship and aviation system programs recorded in the fourth quarter of 2011 ( including the terminated presidential helicopter program ) . partially offsetting the increase was lower operating profit of approximately $ 40 million from undersea systems programs due to reduced profit booking rates on certain programs and lower volume on an international combat system program and towed array systems ; and about $ 40 million due to lower volume on various other programs . adjustments not related to volume , including net profit booking rate adjustments and other matters described above , were approximately $ 150 million higher for 2012 compared to 2011. .
Question: what is the growth rate in operating profit for mst in 2011? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
18576.0 | Context:entergy mississippi , inc . management's financial discussion and analysis sources of capital entergy mississippi's sources to meet its capital requirements include : internally generated funds ; cash on hand ; debt or preferred stock issuances ; and bank financing under new or existing facilities . entergy mississippi may refinance or redeem debt and preferred stock prior to maturity , to the extent market conditions and interest and dividend rates are favorable . all debt and common and preferred stock issuances by entergy mississippi require prior regulatory approval . preferred stock and debt issuances are also subject to issuance tests set forth in its corporate charter , bond indenture , and other agreements . entergy mississippi has sufficient capacity under these tests to meet its foreseeable capital needs . entergy mississippi has two separate credit facilities in the aggregate amount of $ 50 million and renewed both facilities through may 2009 . borrowings under the credit facilities may be secured by a security interest in entergy mississippi's accounts receivable . no borrowings were outstanding under either credit facility as of december 31 , 2008 . entergy mississippi has obtained short-term borrowing authorization from the ferc under which it may borrow through march 31 , 2010 , up to the aggregate amount , at any one time outstanding , of $ 175 million . see note 4 to the financial statements for further discussion of entergy mississippi's short-term borrowing limits . entergy mississippi has also obtained an order from the ferc authorizing long-term securities issuances . the current long-term authorization extends through june 30 , 2009 . entergy mississippi's receivables from or ( payables to ) the money pool were as follows as of december 31 for each of the following years: .
|2008|2007|2006|2005|
|( in thousands )|( in thousands )|( in thousands )|( in thousands )|
|( $ 66044 )|$ 20997|$ 39573|( $ 84066 )|
in may 2007 , $ 6.6 million of entergy mississippi's receivable from the money pool was replaced by a note receivable from entergy new orleans . see note 4 to the financial statements for a description of the money pool . state and local rate regulation the rates that entergy mississippi charges for electricity significantly influence its financial position , results of operations , and liquidity . entergy mississippi is regulated and the rates charged to its customers are determined in regulatory proceedings . a governmental agency , the mpsc , is primarily responsible for approval of the rates charged to customers . formula rate plan in march 2008 , entergy mississippi made its annual scheduled formula rate plan filing for the 2007 test year with the mpsc . the filing showed that a $ 10.1 million increase in annual electric revenues is warranted . in june 2008 , entergy mississippi reached a settlement with the mississippi public utilities staff that would result in a $ 3.8 million rate increase . in january 2009 the mpsc rejected the settlement and left the current rates in effect . entergy mississippi appealed the mpsc's decision to the mississippi supreme court. .
Question: how is the cash flow of entergy mississippi affected by the balance in money pool from 2006 to 2007? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-296.6 | Context:table of contents cdw corporation and subsidiaries method or straight-line method , as applicable . the company classifies deferred financing costs as a direct deduction from the carrying value of the long-term debt liability on the consolidated balance sheets , except for deferred financing costs associated with revolving credit facilities which are presented as an asset , within other assets on the consolidated balance sheets . derivative instruments the company has interest rate cap agreements for the purpose of hedging its exposure to fluctuations in interest rates . the interest rate cap agreements are designated as cash flow hedges of interest rate risk and recorded at fair value in other assets on the consolidated balance sheets . the gain or loss on the derivative instruments is reported as a component of accumulated other comprehensive loss until reclassified to interest expense in the same period the hedge transaction affects earnings . fair value measurements fair value is defined under gaap as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date . a fair value hierarchy has been established for valuation inputs to prioritize the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market . each fair value measurement is reported in one of the three levels which is determined by the lowest level input that is significant to the fair value measurement in its entirety . these levels are : level 1 2013 observable inputs such as quoted prices for identical instruments traded in active markets . level 2 2013 inputs are based on quoted prices for similar instruments in active markets , quoted prices for identical or similar instruments in markets that are not active and model-based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities . level 3 2013 inputs are generally unobservable and typically reflect management 2019s estimates of assumptions that market participants would use in pricing the asset or liability . the fair values are therefore determined using model-based techniques that include option pricing models , discounted cash flow models and similar techniques . accumulated other comprehensive loss the components of accumulated other comprehensive loss included in stockholders 2019 equity are as follows: .
|( in millions )|years ended december 31 , 2017|years ended december 31 , 2016|years ended december 31 , 2015|
|foreign currency translation|$ -96.1 ( 96.1 )|$ -139.6 ( 139.6 )|$ -61.1 ( 61.1 )|
|unrealized gain from hedge accounting|0.2|2014|2014|
|accumulated other comprehensive loss|$ -95.9 ( 95.9 )|$ -139.6 ( 139.6 )|$ -61.1 ( 61.1 )|
revenue recognition the company is a primary distribution channel for a large group of vendors and suppliers , including original equipment manufacturers ( 201coems 201d ) , software publishers , wholesale distributors and cloud providers . the company records revenue from sales transactions when title and risk of loss are passed to the customer , there is persuasive evidence of an arrangement for sale , delivery has occurred and/or services have been rendered , the sales price is fixed or determinable , and collectability is reasonably assured . the company 2019s shipping terms typically specify f.o.b . destination , at which time title and risk of loss have passed to the customer . revenues from the sales of hardware products and software licenses are generally recognized on a gross basis with the selling price to the customer recorded as sales and the acquisition cost of the product recorded as cost of sales . these items can be delivered to customers in a variety of ways , including ( i ) as physical product shipped from the company 2019s warehouse , ( ii ) via drop-shipment by the vendor or supplier , or ( iii ) via electronic delivery for software licenses . at the time of sale , the company records an estimate for sales returns and allowances based on historical experience . the company 2019s vendor partners warrant most of the products the company sells . the company leverages drop-shipment arrangements with many of its vendors and suppliers to deliver products to its customers without having to physically hold the inventory at its warehouses , thereby increasing efficiency and reducing .
Question: what was the three year total accumulated other comprehensive loss 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: |
14.28571 | Context:adobe systems incorporated notes to consolidated financial statements ( continued ) foreign currency translation we translate assets and liabilities of foreign subsidiaries , whose functional currency is their local currency , at exchange rates in effect at the balance sheet date . we translate revenue and expenses at the monthly average exchange rates . we include accumulated net translation adjustments in stockholders 2019 equity as a component of accumulated other comprehensive income . property and equipment we record property and equipment at cost less accumulated depreciation and amortization . property and equipment are depreciated using the straight-line method over their estimated useful lives ranging from 1 to 5 years for computers and equipment , 1 to 6 years for furniture and fixtures and up to 35 years for buildings . leasehold improvements are amortized using the straight-line method over the lesser of the remaining respective lease term or useful lives . goodwill , purchased intangibles and other long-lived assets we review our goodwill for impairment annually , or more frequently , if facts and circumstances warrant a review . we completed our annual impairment test in the second quarter of fiscal 2009 and determined that there was no impairment . goodwill is assigned to one or more reporting segments on the date of acquisition . we evaluate goodwill for impairment by comparing the fair value of each of our reporting segments to its carrying value , including the associated goodwill . to determine the fair values , we use the market approach based on comparable publicly traded companies in similar lines of businesses and the income approach based on estimated discounted future cash flows . our cash flow assumptions consider historical and forecasted revenue , operating costs and other relevant factors . we amortize intangible assets with finite lives over their estimated useful lives and review them for impairment whenever an impairment indicator exists . we continually monitor events and changes in circumstances that could indicate carrying amounts of our long-lived assets , including our intangible assets may not be recoverable . when such events or changes in circumstances occur , we assess recoverability by determining whether the carrying value of such assets will be recovered through the undiscounted expected future cash flows . if the future undiscounted cash flows are less than the carrying amount of these assets , we recognize an impairment loss based on the excess of the carrying amount over the fair value of the assets . we did not recognize any intangible asset impairment charges in fiscal 2009 , 2008 or 2007 . our intangible assets are amortized over their estimated useful lives of 1 to 13 years as shown in the table below . amortization is based on the pattern in which the economic benefits of the intangible asset will be consumed . weighted average useful life ( years ) .
||weighted average useful life ( years )|
|purchased technology|7|
|localization|1|
|trademarks|7|
|customer contracts and relationships|10|
|other intangibles|2|
software development costs capitalization of software development costs for software to be sold , leased , or otherwise marketed begins upon the establishment of technological feasibility , which is generally the completion of a working prototype that has been certified as having no critical bugs and is a release candidate . amortization begins once the software is ready for its intended use , generally based on the pattern in which the economic benefits will be consumed . to date , software development costs incurred between completion of a working prototype and general availability of the related product have not been material . revenue recognition our revenue is derived from the licensing of software products , consulting , hosting services and maintenance and support . primarily , we recognize revenue when persuasive evidence of an arrangement exists , we have delivered the product or performed the service , the fee is fixed or determinable and collection is probable. .
Question: what is the yearly amortization rate related to trademarks? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.13425 | Context:equity method investment earnings we include our share of the earnings of certain affiliates based on our economic ownership interest in the affiliates . significant affiliates include the ardent mills joint venture and affiliates that produce and market potato products for retail and foodservice customers . our share of earnings from our equity method investments was $ 122.1 million ( $ 119.1 million in the commercial foods segment and $ 3.0 million in the consumer foods segment ) and $ 32.5 million ( $ 29.7 million in the commercial foods segment and $ 2.8 million in the consumer foods segment ) in fiscal 2015 and 2014 , respectively . the increase in fiscal 2015 compared to fiscal 2014 reflects the earnings from the ardent mills joint venture as well as higher profits for an international potato joint venture . the earnings from the ardent mills joint venture reflect results for 11 months of operations , as we recognize earnings on a one-month lag , due to differences in fiscal year periods . in fiscal 2014 , earnings also reflected a $ 3.4 million charge reflecting the year-end write-off of actuarial losses in excess of 10% ( 10 % ) of the pension liability for an international potato venture . results of discontinued operations our discontinued operations generated after-tax income of $ 366.6 million and $ 141.4 million in fiscal 2015 and 2014 , respectively . the results of discontinued operations for fiscal 2015 include a pre-tax gain of $ 625.6 million ( $ 379.6 million after-tax ) recognized on the formation of the ardent mills joint venture . the results for fiscal 2014 reflect a pre-tax gain of $ 90.0 million ( $ 55.7 million after-tax ) related to the disposition of three flour milling facilities as part of the ardent mills formation . in fiscal 2014 , we also completed the sale of a small snack business , medallion foods , for $ 32.0 million in cash . we recognized an after-tax loss of $ 3.5 million on the sale of this business in fiscal 2014 . in fiscal 2014 , we recognized an impairment charge related to allocated amounts of goodwill and intangible assets , totaling $ 15.2 million after-tax , in anticipation of this divestiture . we also completed the sale of the assets of the lightlife ae business for $ 54.7 million in cash . we recognized an after-tax gain of $ 19.8 million on the sale of this business in fiscal 2014 . earnings ( loss ) per share diluted loss per share in fiscal 2015 was $ 0.60 , including a loss of $ 1.46 per diluted share from continuing operations and earnings of $ 0.86 per diluted share from discontinued operations . diluted earnings per share in fiscal 2014 were $ 0.70 , including $ 0.37 per diluted share from continuing operations and $ 0.33 per diluted share from discontinued operations . see 201citems impacting comparability 201d above as several significant items affected the comparability of year-over-year results of operations . fiscal 2014 compared to fiscal 2013 net sales ( $ in millions ) reporting segment fiscal 2014 net sales fiscal 2013 net sales .
|( $ in millions ) reporting segment|fiscal 2014 net sales|fiscal 2013 net sales|% ( % ) inc ( dec )|
|consumer foods|7315.7|7551.4|( 3 ) % ( % )|
|commercial foods|4332.2|4109.7|5% ( 5 % )|
|private brands|4195.7|1808.2|132% ( 132 % )|
|total|$ 15843.6|$ 13469.3|18% ( 18 % )|
overall , our net sales increased $ 2.37 billion to $ 15.84 billion in fiscal 2014 compared to fiscal 2013 , primarily related to the acquisition of ralcorp . consumer foods net sales for fiscal 2014 were $ 7.32 billion , a decrease of $ 235.7 million , or 3% ( 3 % ) , compared to fiscal 2013 . results reflected a 3% ( 3 % ) decrease in volume performance and a 1% ( 1 % ) decrease due to the impact of foreign exchange rates , partially offset by a 1% ( 1 % ) increase in price/mix . volume performance from our base businesses for fiscal 2014 was impacted negatively by competitor promotional activity . significant slotting and promotion investments related to new product launches , particularly in the first quarter , also weighed heavily on net sales in fiscal 2014 . in addition , certain shipments planned for the fourth quarter of fiscal 2014 were shifted to the first quarter of fiscal 2015 as a result of change in timing of retailer promotions and this negatively impacted volume performance. .
Question: what percent of net sales in fiscal 2013 where due to private brands? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
5.42122 | Context:.
|contractual obligations|2015|2016|2017|2018|2019|thereafter|total|
|long-term obligations excluding capital leases|888810|753045|700608|1787451|3159286|7188751|14477951|
|cash interest expense|550000|517000|485000|399000|315000|654000|2920000|
|capital lease payments ( including interest )|15589|14049|12905|12456|10760|173313|239072|
|total debt service obligations|1454399|1284094|1198513|2198907|3485046|8016064|17637023|
|operating lease payments ( 11 )|574438|553864|538405|519034|502847|4214600|6903188|
|other non-current liabilities ( 12 ) ( 13 )|11082|20480|5705|13911|4186|1860071|1915435|
|total|$ 2039919|$ 1858438|$ 1742623|$ 2731852|$ 3992079|$ 14090735|$ 26455646|
( 1 ) represents anticipated repayment date ; final legal maturity date is march 15 , 2043 . ( 2 ) represents anticipated repayment date ; final legal maturity date is march 15 , 2048 . ( 3 ) in connection with our acquisition of mipt on october 1 , 2013 , we assumed approximately $ 1.49 billion aggregate principal amount of secured notes , $ 250.0 million of which we repaid in august 2014 . the gtp notes have anticipated repayment dates beginning june 15 , 2016 . ( 4 ) assumed in connection with our acquisition of br towers and denominated in brl . the br towers debenture amortizes through october 2023 . the br towers credit facility amortizes through january 15 , ( 5 ) assumed by us in connection with the unison acquisition , and have anticipated repayment dates of april 15 , 2017 , april 15 , 2020 and april 15 , 2020 , respectively , and a final maturity date of april 15 , 2040 . ( 6 ) denominated in mxn . ( 7 ) denominated in zar and amortizes through march 31 , 2020 . ( 8 ) denominated in cop and amortizes through april 24 , 2021 . ( 9 ) reflects balances owed to our joint venture partners in ghana and uganda . the ghana loan is denominated in ghs and the uganda loan is denominated in usd . ( 10 ) on february 11 , 2015 , we redeemed all of the outstanding 4.625% ( 4.625 % ) notes in accordance with the terms thereof . ( 11 ) includes payments under non-cancellable initial terms , as well as payments for certain renewal periods at our option , which we expect to renew because failure to renew could result in a loss of the applicable communications sites and related revenues from tenant leases . ( 12 ) primarily represents our asset retirement obligations and excludes certain other non-current liabilities included in our consolidated balance sheet , primarily our straight-line rent liability for which cash payments are included in operating lease payments and unearned revenue that is not payable in cash . ( 13 ) excludes $ 26.6 million of liabilities for unrecognized tax positions and $ 24.9 million of accrued income tax related interest and penalties included in our consolidated balance sheet as we are uncertain as to when and if the amounts may be settled . settlement of such amounts could require the use of cash flows generated from operations . we expect the unrecognized tax benefits to change over the next 12 months if certain tax matters ultimately settle with the applicable taxing jurisdiction during this timeframe . however , based on the status of these items and the amount of uncertainty associated with the outcome and timing of audit settlements , we are currently unable to estimate the impact of the amount of such changes , if any , to previously recorded uncertain tax positions . off-balance sheet arrangements . we have no material off-balance sheet arrangements as defined in item 303 ( a ) ( 4 ) ( ii ) of sec regulation s-k . interest rate swap agreements . we have entered into interest rate swap agreements to manage our exposure to variability in interest rates on debt in colombia and south africa . all of our interest rate swap agreements have been designated as cash flow hedges and have an aggregate notional amount of $ 79.9 million , interest rates ranging from 5.74% ( 5.74 % ) to 7.83% ( 7.83 % ) and expiration dates through april 2021 . in february 2014 , we repaid the costa rica loan and subsequently terminated the associated interest rate swap agreements . additionally , in connection with entering into the colombian credit facility in october 2014 , we terminated our pre-existing interest rate .
Question: assuming a midpoint interest rate in the range , what would be the annual interest expense on interest rate swap agreements based on the notional amounts , 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: |
1914482.2 | Context:the following table summarized the status of the company 2019s non-vested performance share unit awards and changes for the period indicated : weighted- average grant date performance share unit awards shares fair value .
|performance share unit awards|year ended december 31 2015 shares|year ended december 31 2015 weighted- average grant date fair value|
|outstanding at january 1,|-|$ -|
|granted|10705|178.84|
|vested|-|-|
|forfeited|-|-|
|outstanding at december 31,|10705|178.84|
19 . segment reporting the u.s . reinsurance operation writes property and casualty reinsurance and specialty lines of business , including marine , aviation , surety and accident and health ( 201ca&h 201d ) business , on both a treaty and facultative basis , through reinsurance brokers , as well as directly with ceding companies primarily within the u.s . the international operation writes non-u.s . property and casualty reinsurance through everest re 2019s branches in canada and singapore and through offices in brazil , miami and new jersey . the bermuda operation provides reinsurance and insurance to worldwide property and casualty markets through brokers and directly with ceding companies from its bermuda office and reinsurance to the united kingdom and european markets through its uk branch and ireland re . the insurance operation writes property and casualty insurance directly and through general agents , brokers and surplus lines brokers within the u.s . and canada . the mt . logan re segment represents business written for the segregated accounts of mt . logan re , which were formed on july 1 , 2013 . the mt . logan re business represents a diversified set of catastrophe exposures , diversified by risk/peril and across different geographical regions globally . these segments , with the exception of mt . logan re , are managed independently , but conform with corporate guidelines with respect to pricing , risk management , control of aggregate catastrophe exposures , capital , investments and support operations . management generally monitors and evaluates the financial performance of these operating segments based upon their underwriting results . the mt . logan re segment is managed independently and seeks to write a diverse portfolio of catastrophe risks for each segregated account to achieve desired risk and return criteria . underwriting results include earned premium less losses and loss adjustment expenses ( 201clae 201d ) incurred , commission and brokerage expenses and other underwriting expenses . we measure our underwriting results using ratios , in particular loss , commission and brokerage and other underwriting expense ratios , which , respectively , divide incurred losses , commissions and brokerage and other underwriting expenses by premiums earned . mt . logan re 2019s business is sourced through operating subsidiaries of the company ; however , the activity is only reflected in the mt . logan re segment . for other inter-affiliate reinsurance , business is generally reported within the segment in which the business was first produced , consistent with how the business is managed . except for mt . logan re , the company does not maintain separate balance sheet data for its operating segments . accordingly , the company does not review and evaluate the financial results of its operating segments based upon balance sheet data. .
Question: as of year ended december 31 2015 what is the value of the shares granted | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.3426 | Context:value , which may be maturity , the company does not consider these investments to be other-than-temporarily impaired as of december 31 , 2005 and 2004 . gross realized gains and losses for 2005 were $ 15000 and $ 75000 , respectively . gross realized gains and losses for 2004 were $ 628000 and $ 205000 , respectively . gross realized gains for 2003 were $ 1249000 . there were no gross realized losses for 2003 . maturities stated are effective maturities . f . restricted cash at december 31 , 2005 and 2004 , the company held $ 41482000 and $ 49847000 , respectively , in restricted cash . at december 31 , 2005 and 2004 the balance was held in deposit with certain banks predominantly to collateralize conditional stand-by letters of credit in the names of the company's landlords pursuant to certain operating lease agreements . g . property and equipment property and equipment consist of the following at december 31 ( in thousands ) : depreciation expense for the years ended december 31 , 2005 , 2004 and 2003 was $ 26307000 , $ 28353000 and $ 27988000 respectively . in 2005 and 2004 , the company wrote off certain assets that were fully depreciated and no longer utilized . there was no effect on the company's net property and equipment . additionally , the company wrote off or sold certain assets that were not fully depreciated . the net loss on disposal of those assets was $ 344000 for 2005 and $ 43000 for 2004 . h . investments in accordance with the company's policy , as outlined in note b , "accounting policies" the company assessed its investment in altus pharmaceuticals , inc . ( "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 which would indicate a decrease in its fair value below the carrying value that would require the company to write down the investment basis of the asset , as of december 31 , 2005 and december 31 , 2004 . the company's cost basis carrying value in its outstanding equity and warrants of altus was $ 18863000 at december 31 , 2005 and 2004. .
||2005|2004|
|furniture and equipment|$ 98387|$ 90893|
|leasehold improvements|66318|65294|
|computers|18971|18421|
|software|18683|16411|
|total property and equipment gross|202359|191019|
|less accumulated depreciation and amortization|147826|126794|
|total property and equipment net|$ 54533|$ 64225|
.
Question: what percent of the 2005 gross total property and equipment value is related to software? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.36182 | Context:mortgage banking activities the company enters into commitments to originate loans whereby the interest rate on the loan is determined prior to funding . these commitments are referred to as interest rate lock commitments ( 201cirlcs 201d ) . irlcs on loans that the company intends to sell are considered to be derivatives and are , therefore , recorded at fair value with changes in fair value recorded in earnings . for purposes of determining fair value , the company estimates the fair value of an irlc based on the estimated fair value of the underlying mortgage loan and the probability that the mortgage loan will fund within the terms of the irlc . the fair value excludes the market value associated with the anticipated sale of servicing rights related to each loan commitment . the fair value of these irlcs was a $ 0.06 million and a $ 0.02 million liability at december 31 , 2007 and 2006 , respectively . the company also designates fair value relationships of closed loans held-for-sale against a combination of mortgage forwards and short treasury positions . short treasury relationships are economic hedges , rather than fair value or cash flow hedges . short treasury positions are marked-to-market , but do not receive hedge accounting treatment under sfas no . 133 , as amended . the mark-to-market of the mortgage forwards is included in the net change of the irlcs and the related hedging instruments . the fair value of the mark-to-market on closed loans was a $ 1.2 thousand and $ 1.7 million asset at december 31 , 2007 and 2006 , respectively . irlcs , as well as closed loans held-for-sale , expose the company to interest rate risk . the company manages this risk by selling mortgages or mortgage-backed securities on a forward basis referred to as forward sale agreements . changes in the fair value of these derivatives are included as gain ( loss ) on loans and securities , net in the consolidated statement of income ( loss ) . the net change in irlcs , closed loans , mortgage forwards and the short treasury positions generated a net loss of $ 2.4 million in 2007 , a net gain of $ 1.6 million in 2006 and a net loss of $ 0.4 million in 2005 . credit risk credit risk is managed by limiting activity to approved counterparties and setting aggregate exposure limits for each approved counterparty . the credit risk , or maximum exposure , which results from interest rate swaps and purchased interest rate options is represented by the fair value of contracts that have unrealized gains at the reporting date . conversely , we have $ 197.5 million of derivative contracts with unrealized losses at december 31 , 2007 . the company pledged approximately $ 87.4 million of its mortgage-backed securities as collateral of derivative contracts . while the company does not expect that any counterparty will fail to perform , the following table shows the maximum exposure associated with each counterparty to interest rate swaps and purchased interest rate options at december 31 , 2007 ( dollars in thousands ) : counterparty credit .
|counterparty|credit risk|
|bank of america|$ 48161|
|lehman brothers|29136|
|jp morgan|18878|
|union bank of switzerland|15562|
|credit suisse first boston|11047|
|royal bank of scotland|6164|
|morgan stanley|2215|
|salomon brothers|1943|
|total exposure|$ 133106|
.
Question: what was the percent of the counterparty credit risk for bank of america to the total credit risk exposure | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
19237800.0 | Context:item 2 : properties information concerning applied 2019s properties at october 30 , 2016 is set forth below: .
|( square feet in thousands )|united states|other countries|total|
|owned|3745|1629|5374|
|leased|564|1103|1667|
|total|4309|2732|7041|
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 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 ; tainan , taiwan ; and santa clara , california . 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 280 acres of buildable land in montana , texas , california , massachusetts , israel and italy that could accommodate additional building space . applied considers the properties that it owns or leases as adequate to meet its current and future requirements . applied regularly assesses the size , capability and location of its global infrastructure and periodically makes adjustments based on these assessments. .
Question: what was the total amount of land owned by the company ? ( 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: |
0.81873 | Context:17 . leases we lease certain locomotives , freight cars , and other property . the consolidated statements of financial position as of december 31 , 2017 , and 2016 included $ 1635 million , net of $ 953 million of accumulated depreciation , and $ 1997 million , net of $ 1121 million of accumulated depreciation , respectively , for properties held under capital leases . a charge to income resulting from the depreciation for assets held under capital leases is included within depreciation expense in our consolidated statements of income . future minimum lease payments for operating and capital leases with initial or remaining non-cancelable lease terms in excess of one year as of december 31 , 2017 , were as follows : millions operating leases capital leases .
|millions|operatingleases|capitalleases|
|2018|$ 398|$ 173|
|2019|359|156|
|2020|297|164|
|2021|259|168|
|2022|221|147|
|later years|1115|271|
|total minimum lease payments|$ 2649|$ 1079|
|amount representing interest|n/a|-187 ( 187 )|
|present value of minimum lease payments|n/a|$ 892|
approximately 97% ( 97 % ) of capital lease payments relate to locomotives . rent expense for operating leases with terms exceeding one month was $ 480 million in 2017 , $ 535 million in 2016 , and $ 590 million in 2015 . when cash rental payments are not made on a straight-line basis , we recognize variable rental expense on a straight-line basis over the lease term . contingent rentals and sub-rentals are not significant . 18 . commitments and contingencies asserted and unasserted claims 2013 various claims and lawsuits are pending against us and certain of our subsidiaries . we cannot fully determine the effect of all asserted and unasserted claims on our consolidated results of operations , financial condition , or liquidity . to the extent possible , we have recorded a liability where asserted and unasserted claims are considered probable and where such claims can be reasonably estimated . we do not expect that any known lawsuits , claims , environmental costs , commitments , contingent liabilities , or guarantees will have a material adverse effect on our consolidated results of operations , financial condition , or liquidity after taking into account liabilities and insurance recoveries previously recorded for these matters . personal injury 2013 the cost of personal injuries to employees and others related to our activities is charged to expense based on estimates of the ultimate cost and number of incidents each year . we use an actuarial analysis to measure the expense and liability , including unasserted claims . the federal employers 2019 liability act ( fela ) governs compensation for work-related accidents . under fela , damages are assessed based on a finding of fault through litigation or out-of-court settlements . we offer a comprehensive variety of services and rehabilitation programs for employees who are injured at work . our personal injury liability is not discounted to present value due to the uncertainty surrounding the timing of future payments . approximately 95% ( 95 % ) of the recorded liability is related to asserted claims and approximately 5% ( 5 % ) is related to unasserted claims at december 31 , 2017 . because of the uncertainty surrounding the ultimate outcome of personal injury claims , it is reasonably possible that future costs to settle these claims may range from approximately $ 285 million to $ 310 million . we record an accrual at the low end of the range as no amount of loss within the range is more probable than any other . estimates can vary over time due to evolving trends in litigation. .
Question: what was the ratio of the net properties held under capital leases in 2017 to 2016\\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: |
-2.9 | Context:( 2 ) the company has a master netting arrangement by counterparty with respect to derivative contracts . as of october 29 , 2011 and october 30 , 2010 , contracts in a liability position of $ 0.8 million in each year , were netted against contracts in an asset position in the consolidated balance sheets . ( 3 ) equal to the accreted notional value of the debt plus the fair value of the interest rate component of the long- term debt . the fair value of the long-term debt as of october 29 , 2011 and october 30 , 2010 was $ 413.4 million and $ 416.3 million , respectively . the following methods and assumptions were used by the company in estimating its fair value disclosures for financial instruments : cash equivalents and short-term investments 2014 these investments are adjusted to fair value based on quoted market prices or are determined using a yield curve model based on current market rates . deferred compensation plan investments and other investments 2014 the fair value of these mutual fund , money market fund and equity investments are based on quoted market prices . long-term debt 2014 the fair value of long-term debt is based on quotes received from third-party banks . interest rate swap agreements 2014 the fair value of interest rate swap agreements is based on quotes received from third-party banks . these values represent the estimated amount the company would receive or pay to terminate the agreements taking into consideration current interest rates as well as the creditworthiness of the counterparty . forward foreign currency exchange contracts 2014 the estimated fair value of forward foreign currency exchange contracts , which includes derivatives that are accounted for as cash flow hedges and those that are not designated as cash flow hedges , is based on the estimated amount the company would receive if it sold these agreements at the reporting date taking into consideration current interest rates as well as the creditworthiness of the counterparty for assets and the company 2019s creditworthiness for liabilities . contingent consideration 2014 the fair value of contingent consideration was estimated utilizing the income approach and is based upon significant inputs not observable in the market . changes in the fair value of the contingent consideration subsequent to the acquisition date that are primarily driven by assumptions pertaining to the achievement of the defined milestones will be recognized in operating income in the period of the estimated fair value change . the following table summarizes the change in the fair value of the contingent consideration measured using significant unobservable inputs ( level 3 ) for fiscal 2011 : contingent consideration .
||contingent consideration|
|balance as of october 30 2010|$ 2014|
|contingent consideration liability recorded|13790|
|fair value adjustment|183|
|balance as of october 29 2011|$ 13973|
financial instruments not recorded at fair value on a recurring basis on april 4 , 2011 , the company issued $ 375 million aggregate principal amount of 3.0% ( 3.0 % ) senior unsecured notes due april 15 , 2016 ( the 3.0% ( 3.0 % ) notes ) with semi-annual fixed interest payments due on april 15 and october 15 of each year , commencing october 15 , 2011 . the fair value of the 3.0% ( 3.0 % ) notes as of october 29 , 2011 was $ 392.8 million , based on quotes received from third-party banks . analog devices , inc . notes to consolidated financial statements 2014 ( continued ) .
Question: what is the net change the fair value of the long-term debt in 2011? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
13.045 | Context:american tower corporation and subsidiaries notes to consolidated financial statements u.s . acquisitions 2014during the year ended december 31 , 2010 , the company acquired 548 towers through multiple acquisitions in the united states for an aggregate purchase price of $ 329.3 million and contingent consideration of approximately $ 4.6 million . the acquisition of these towers is consistent with the company 2019s strategy to expand in selected geographic areas and have been accounted for as business combinations . the following table summarizes the preliminary allocation of the aggregate purchase consideration paid and the amounts of assets acquired and liabilities assumed based on the estimated fair value of the acquired assets and assumed liabilities at the date of acquisition ( in thousands ) : purchase price allocation .
||purchase price allocation|
|non-current assets|$ 442|
|property and equipment|64564|
|intangible assets ( 1 )|260898|
|current liabilities|-360 ( 360 )|
|long-term liabilities|-7802 ( 7802 )|
|fair value of net assets acquired|$ 317742|
|goodwill ( 2 )|16131|
( 1 ) consists of customer relationships of approximately $ 205.4 million and network location intangibles of approximately $ 55.5 million . the customer relationships and network location intangibles are being amortized on a straight-line basis over a period of 20 years . ( 2 ) goodwill is expected to be deductible for income tax purposes . the goodwill was allocated to the domestic rental and management segment . the allocation of the purchase price will be finalized upon completion of analyses of the fair value of the assets acquired and liabilities assumed . south africa acquisition 2014on november 4 , 2010 , the company entered into a definitive agreement with cell c ( pty ) limited to purchase up to approximately 1400 existing towers , and up to 1800 additional towers that either are under construction or will be constructed , for an aggregate purchase price of up to approximately $ 430 million . the company anticipates closing the purchase of up to 1400 existing towers during 2011 , subject to customary closing conditions . other transactions coltel transaction 2014on september 3 , 2010 , the company entered into a definitive agreement to purchase the exclusive use rights for towers in colombia from colombia telecomunicaciones s.a . e.s.p . ( 201ccoltel 201d ) until 2023 , when ownership of the towers will transfer to the company at no additional cost . pursuant to that agreement , the company completed the purchase of exclusive use rights for 508 towers for an aggregate purchase price of $ 86.8 million during the year ended december 31 , 2010 . the company expects to complete the purchase of the exclusive use rights for an additional 180 towers by the end of 2011 , subject to customary closing conditions . the transaction has been accounted for as a capital lease , with the aggregated purchase price being allocated to property and equipment and non-current assets . joint venture with mtn group 2014on december 6 , 2010 , the company entered into a definitive agreement with mtn group limited ( 201cmtn group 201d ) to establish a joint venture in ghana ( 201ctowerco ghana 201d ) . towerco ghana , which will be managed by the company , will be owned by a holding company of which a wholly owned american tower subsidiary will hold a 51% ( 51 % ) share and a wholly owned mtn group subsidiary ( 201cmtn ghana 201d ) will hold a 49% ( 49 % ) share . the transaction involves the sale of up to 1876 of mtn ghana 2019s existing sites to .
Question: what is the annual amortization expense related to customer relationships and network location intangibles , 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: |
-0.3309 | Context:shareholder return performance the line graph below compares the annual percentage change in ball corporation fffds cumulative total shareholder return on its common stock with the cumulative total return of the dow jones containers & packaging index and the s&p composite 500 stock index for the five-year period ended december 31 , 2011 . it assumes $ 100 was invested on december 31 , 2006 , and that all dividends were reinvested . the dow jones containers & packaging index total return has been weighted by market capitalization . total return to stockholders ( assumes $ 100 investment on 12/31/06 ) total return analysis .
||12/31/2006|12/31/2007|12/31/2008|12/31/2009|12/31/2010|12/31/2011|
|ball corporation|$ 100.00|$ 104.05|$ 97.04|$ 121.73|$ 161.39|$ 170.70|
|dj us containers & packaging|$ 100.00|$ 106.73|$ 66.91|$ 93.98|$ 110.23|$ 110.39|
|s&p 500|$ 100.00|$ 105.49|$ 66.46|$ 84.05|$ 96.71|$ 98.75|
copyright a9 2012 standard & poor fffds , a division of the mcgraw-hill companies inc . all rights reserved . ( www.researchdatagroup.com/s&p.htm ) copyright a9 2012 dow jones & company . all rights reserved. .
Question: what is the roi of an investment in dj us containers & packaging from 2006 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: |
0.12293 | 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: what was the 2015 rate of increase in adjusted 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: |
29.1 | Context:sources of liquidity primary sources of liquidity for citigroup and its principal subsidiaries include : 2022 deposits ; 2022 collateralized financing transactions ; 2022 senior and subordinated debt ; 2022 commercial paper ; 2022 trust preferred and preferred securities ; and 2022 purchased/wholesale funds . citigroup 2019s funding sources are diversified across funding types and geography , a benefit of its global franchise . funding for citigroup and its major operating subsidiaries includes a geographically diverse retail and corporate deposit base of $ 774.2 billion . these deposits are diversified across products and regions , with approximately two-thirds of them outside of the u.s . this diversification provides the company with an important , stable and low-cost source of funding . a significant portion of these deposits has been , and is expected to be , long-term and stable , and are considered to be core . there are qualitative as well as quantitative assessments that determine the company 2019s calculation of core deposits . the first step in this process is a qualitative assessment of the deposits . for example , as a result of the company 2019s qualitative analysis certain deposits with wholesale funding characteristics are excluded from consideration as core . deposits that qualify under the company 2019s qualitative assessments are then subjected to quantitative analysis . excluding the impact of changes in foreign exchange rates and the sale of our retail banking operations in germany during the year ending december 31 , 2008 , the company 2019s deposit base remained stable . on a volume basis , deposit increases were noted in transaction services , u.s . retail banking and smith barney . this was partially offset by the company 2019s decision to reduce deposits considered wholesale funding , consistent with the company 2019s de-leveraging efforts , and declines in international consumer banking and the private bank . citigroup and its subsidiaries have historically had a significant presence in the global capital markets . the company 2019s capital markets funding activities have been primarily undertaken by two legal entities : ( i ) citigroup inc. , which issues long-term debt , medium-term notes , trust preferred securities , and preferred and common stock ; and ( ii ) citigroup funding inc . ( cfi ) , a first-tier subsidiary of citigroup , which issues commercial paper , medium-term notes and structured equity-linked and credit-linked notes , all of which are guaranteed by citigroup . other significant elements of long- term debt on the consolidated balance sheet include collateralized advances from the federal home loan bank system , long-term debt related to the consolidation of icg 2019s structured investment vehicles , asset-backed outstandings , and certain borrowings of foreign subsidiaries . each of citigroup 2019s major operating subsidiaries finances its operations on a basis consistent with its capitalization , regulatory structure and the environment in which it operates . particular attention is paid to those businesses that for tax , sovereign risk , or regulatory reasons cannot be freely and readily funded in the international markets . citigroup 2019s borrowings have historically been diversified by geography , investor , instrument and currency . decisions regarding the ultimate currency and interest rate profile of liquidity generated through these borrowings can be separated from the actual issuance through the use of derivative instruments . citigroup is a provider of liquidity facilities to the commercial paper programs of the two primary credit card securitization trusts with which it transacts . citigroup may also provide other types of support to the trusts . as a result of the recent economic downturn , its impact on the cashflows of the trusts , and in response to credit rating agency reviews of the trusts , the company increased the credit enhancement in the omni trust , and plans to provide additional enhancement to the master trust ( see note 23 to consolidated financial statements on page 175 for a further discussion ) . this support preserves investor sponsorship of our card securitization franchise , an important source of liquidity . banking subsidiaries there are various legal limitations on the ability of citigroup 2019s subsidiary depository institutions to extend credit , pay dividends or otherwise supply funds to citigroup and its non-bank subsidiaries . the approval of the office of the comptroller of the currency , in the case of national banks , or the office of thrift supervision , in the case of federal savings banks , is required if total dividends declared in any calendar year exceed amounts specified by the applicable agency 2019s regulations . state-chartered depository institutions are subject to dividend limitations imposed by applicable state law . in determining the declaration of dividends , each depository institution must also consider its effect on applicable risk-based capital and leverage ratio requirements , as well as policy statements of the federal regulatory agencies that indicate that banking organizations should generally pay dividends out of current operating earnings . non-banking subsidiaries citigroup also receives dividends from its non-bank subsidiaries . these non-bank subsidiaries are generally not subject to regulatory restrictions on dividends . however , as discussed in 201ccapital resources and liquidity 201d on page 94 , the ability of cgmhi to declare dividends can be restricted by capital considerations of its broker-dealer subsidiaries . cgmhi 2019s consolidated balance sheet is liquid , with the vast majority of its assets consisting of marketable securities and collateralized short-term financing agreements arising from securities transactions . cgmhi monitors and evaluates the adequacy of its capital and borrowing base on a daily basis to maintain liquidity and to ensure that its capital base supports the regulatory capital requirements of its subsidiaries . some of citigroup 2019s non-bank subsidiaries , including cgmhi , have credit facilities with citigroup 2019s subsidiary depository institutions , including citibank , n.a . borrowings under these facilities must be secured in accordance with section 23a of the federal reserve act . there are various legal restrictions on the extent to which a bank holding company and certain of its non-bank subsidiaries can borrow or obtain credit from citigroup 2019s subsidiary depository institutions or engage in certain other transactions with them . in general , these restrictions require that transactions be on arm 2019s length terms and be secured by designated amounts of specified collateral . see note 20 to the consolidated financial statements on page 169 . at december 31 , 2008 , long-term debt and commercial paper outstanding for citigroup , cgmhi , cfi and citigroup 2019s subsidiaries were as follows : in billions of dollars citigroup parent company cgmhi ( 2 ) citigroup funding inc . ( 2 ) citigroup subsidiaries long-term debt $ 192.3 $ 20.6 $ 37.4 $ 109.3 ( 1 ) .
|in billions of dollars|citigroup parent company|cgmhi ( 2 )|citigroup funding inc. ( 2 )|other citigroup subsidiaries||
|long-term debt|$ 192.3|$ 20.6|$ 37.4|$ 109.3|-1 ( 1 )|
|commercial paper|$ 2014|$ 2014|$ 28.6|$ 0.5||
( 1 ) at december 31 , 2008 , approximately $ 67.4 billion relates to collateralized advances from the federal home loan bank . ( 2 ) citigroup inc . guarantees all of cfi 2019s debt and cgmhi 2019s publicly issued securities. .
Question: what is the total commercial paper in billions of dollars for citigroup , cgmhi , cfi and citigroup 2019s subsidiaries at december 31 , 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: |
0.5 | Context:natural gas prices on average were lower in 2009 than in 2008 and in 2007 , with prices in 2008 hitting uniquely high levels . a significant portion of our natural gas production in the lower 48 states of the u.s . is sold at bid-week prices or first-of-month indices relative to our specific producing areas . a large portion of natural gas sales in alaska are subject to term contracts . our other major natural gas-producing regions are europe and equatorial guinea , where large portions of our natural gas sales are also subject to term contracts , making realized prices in these areas less volatile . as we sell larger quantities of natural gas from these regions , to the extent that these fixed prices are lower than prevailing prices , our reported average natural gas prices realizations may be less than benchmark natural gas prices . oil sands mining oil sands mining segment revenues correlate with prevailing market prices for the various qualities of synthetic crude oil and vacuum gas oil we produce . roughly two-thirds of the normal output mix will track movements in wti and one-third will track movements in the canadian heavy sour crude oil marker , primarily western canadian select . output mix can be impacted by operational problems or planned unit outages at the mine or the upgrader . the operating cost structure of the oil sands mining operations is predominantly fixed and therefore many of the costs incurred in times of full operation continue during production downtime . per-unit costs are sensitive to production rates . key variable costs are natural gas and diesel fuel , which track commodity markets such as the canadian aeco natural gas sales index and crude prices respectively . the table below shows average benchmark prices that impact both our revenues and variable costs. .
|benchmark|2009|2008|2007|
|wti crude oil ( dollars per barrel )|$ 62.09|$ 99.75|$ 72.41|
|western canadian select ( dollars per barrel ) ( a )|$ 52.13|$ 79.59|$ 49.60|
|aeco natural gas sales index ( dollars per mmbtu ) ( b )|$ 3.49|$ 7.74|$ 6.06|
western canadian select ( dollars per barrel ) ( a ) $ 52.13 $ 79.59 $ 49.60 aeco natural gas sales index ( dollars per mmbtu ) ( b ) $ 3.49 $ 7.74 $ 6.06 ( a ) monthly pricing based upon average wti adjusted for differentials unique to western canada . ( b ) alberta energy company day ahead index . integrated gas our integrated gas strategy is to link stranded natural gas resources with areas where a supply gap is emerging due to declining production and growing demand . our integrated gas operations include marketing and transportation of products manufactured from natural gas , such as lng and methanol , primarily in west africa , the u.s . and europe . our most significant lng investment is our 60 percent ownership in a production facility in equatorial guinea , which sells lng under a long-term contract at prices tied to henry hub natural gas prices . in 2009 , the gross sales from the plant were 3.9 million metric tonnes , while in 2008 , its first full year of operations , the plant sold 3.4 million metric tonnes . industry estimates of 2009 lng trade are approximately 185 million metric tonnes . more lng production facilities and tankers were under construction in 2009 . as a result of the sharp worldwide economic downturn in 2008 , continued weak economies are expected to lower natural gas consumption in various countries ; therefore , affecting near-term demand for lng . long-term lng supply continues to be in demand as markets seek the benefits of clean burning natural gas . market prices for lng are not reported or posted . in general , lng delivered to the u.s . is tied to henry hub prices and will track with changes in u.s . natural gas prices , while lng sold in europe and asia is indexed to crude oil prices and will track the movement of those prices . we own a 45 percent interest in a methanol plant located in equatorial guinea through our investment in ampco . gross sales of methanol from the plant totaled 960374 metric tonnes in 2009 and 792794 metric tonnes in 2008 . methanol demand has a direct impact on ampco 2019s earnings . because global demand for methanol is rather limited , changes in the supply-demand balance can have a significant impact on sales prices . the 2010 chemical markets associates , inc . estimates world demand for methanol in 2009 was 41 million metric tonnes . our plant capacity is 1.1 million , or about 3 percent of total demand . refining , marketing and transportation rm&t segment income depends largely on our refining and wholesale marketing gross margin , refinery throughputs and retail marketing gross margins for gasoline , distillates and merchandise. .
Question: in 2009 , the gross sales from the plant were 3.9 million metric tonnes . what was the increase from 2008 , its first full year of operations , in million metric tonnes?\\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: |
44.8 | Context:notes to consolidated financial statements 2014 ( continued ) owns the remaining 44% ( 44 % ) . we purchased our share of gpap philippines for $ 10.9 million . the purpose of this acquisition was to expand our presence in the asia-pacific market . this business acquisition was not significant to our consolidated financial statements and accordingly , we have not provided pro forma information relating to this acquisition . the following table summarizes the preliminary purchase price allocation ( in thousands ) : .
|goodwill|$ 6286|
|customer-related intangible assets|3248|
|contract-based intangible assets|952|
|trademark|224|
|property and equipment|300|
|total assets acquired|11010|
|minority interest in equity of subsidiary ( at historical cost )|-132 ( 132 )|
|net assets acquired|$ 10878|
all of the goodwill associated with the acquisition is non-deductible for tax purposes . the customer-related intangible assets have amortization periods of 11 years . the contract-based intangible assets have amortization periods of 7 years . the trademark has an amortization period of 5 years . money transfer branch locations during 2009 , we completed the second and final series of money transfer branch location acquisitions in the united states as part of an assignment and asset purchase agreement with a privately held company . the purpose of this acquisition was to increase the market presence of our dolex-branded money transfer offering . the purchase price of these acquisitions was $ 787 thousand with $ 739 thousand allocated to goodwill and $ 48 thousand allocated to intangibles . pursuant to our annual impairment test in fiscal 2009 , goodwill and other intangibles related to our money transfer business were deemed impaired . please see note 3 2014impairment charges for further information . this business acquisition was not significant to our consolidated financial statements and accordingly , we have not provided pro forma information relating to this acquisition . fiscal 2008 discover during the year ended may 31 , 2008 , we acquired a portfolio of merchants that process discover transactions and the rights to process discover transactions for our existing and new merchants for $ 6.0 million . the purchase of the portfolio was structured to occur in tranches . during fiscal 2009 , additional tranches were purchased for $ 1.4 million . as a result of this acquisition , we now process discover transactions similarly to how we currently process visa and mastercard transactions . the purpose of this acquisition was to offer merchants a single point of contact for discover , visa and mastercard card processing . the operating results of the acquired portfolio have been included in our consolidated financial statements from the dates of acquisition . the customer-related intangible assets have amortization periods of 10 years . these business acquisitions were not significant to our consolidated financial statements and accordingly , we have not provided pro forma information relating to these acquisitions. .
Question: what is the yearly amortization expense related to trademark , ( in thousands ) ? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
62049.0 | Context:a reconciliation of the beginning and ending amount of unrecognized tax benefits , for the periods indicated , is as follows: .
|( dollars in thousands )|2010|2009|2008|
|balance at january 1|$ 29010|$ 34366|$ 29132|
|additions based on tax positions related to the current year|7119|6997|5234|
|additions for tax positions of prior years|-|-|-|
|reductions for tax positions of prior years|-|-|-|
|settlements with taxing authorities|-12356 ( 12356 )|-12353 ( 12353 )|-|
|lapses of applicable statutes of limitations|-|-|-|
|balance at december 31|$ 23773|$ 29010|$ 34366|
the entire amount of the unrecognized tax benefits would affect the effective tax rate if recognized . in 2010 , the company favorably settled a 2003 and 2004 irs audit . the company recorded a net overall tax benefit including accrued interest of $ 25920 thousand . in addition , the company was also able to take down a $ 12356 thousand fin 48 reserve that had been established regarding the 2003 and 2004 irs audit . the company is no longer subject to u.s . federal , state and local or foreign income tax examinations by tax authorities for years before 2007 . the company recognizes accrued interest related to net unrecognized tax benefits and penalties in income taxes . during the years ended december 31 , 2010 , 2009 and 2008 , the company accrued and recognized a net expense ( benefit ) of approximately $ ( 9938 ) thousand , $ 1563 thousand and $ 2446 thousand , respectively , in interest and penalties . included within the 2010 net expense ( benefit ) of $ ( 9938 ) thousand is $ ( 10591 ) thousand of accrued interest related to the 2003 and 2004 irs audit . the company is not aware of any positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly increase or decrease within twelve months of the reporting date . for u.s . income tax purposes the company has foreign tax credit carryforwards of $ 55026 thousand that begin to expire in 2014 . in addition , for u.s . income tax purposes the company has $ 41693 thousand of alternative minimum tax credits that do not expire . management believes that it is more likely than not that the company will realize the benefits of its net deferred tax assets and , accordingly , no valuation allowance has been recorded for the periods presented . tax benefits of $ 629 thousand and $ 1714 thousand related to share-based compensation deductions for stock options exercised in 2010 and 2009 , respectively , are included within additional paid-in capital of the shareholders 2019 equity section of the consolidated balance sheets. .
Question: in the 2010 , the company settled an audit agreement favorable . as a result of this favorable agreement , what might the balance be on december 1st? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
1.01584 | Context:hologic , inc . notes to consolidated financial statements 2014 ( continued ) ( in thousands , except per share data ) future minimum lease payments under all the company 2019s operating leases are approximately as follows: .
|fiscal years ending|amount|
|september 24 2005|$ 4848|
|september 30 2006|4672|
|september 29 2007|3680|
|september 27 2008|3237|
|september 26 2009|3158|
|thereafter|40764|
|total ( not reduced by minimum sublease rentals of $ 165 )|$ 60359|
the company subleases a portion of its bedford facility and has received rental income of $ 277 , $ 410 and $ 682 for fiscal years 2004 , 2003 and 2002 , respectively , which has been recorded as an offset to rent expense in the accompanying statements of income . rental expense , net of sublease income , was approximately $ 4660 , $ 4963 , and $ 2462 for fiscal 2004 , 2003 and 2002 , respectively . 9 . business segments and geographic information the company reports segment information in accordance with sfas no . 131 , disclosures about segments of an enterprise and related information . operating segments are identified as components of an enterprise about which separate , discrete financial information is available for evaluation by the chief operating decision maker , or decision-making group , in making decisions how to allocate resources and assess performance . the company 2019s chief decision-maker , as defined under sfas no . 131 , is the chief executive officer . to date , the company has viewed its operations and manages its business as four principal operating segments : the manufacture and sale of mammography products , osteoporosis assessment products , digital detectors and other products . as a result of the company 2019s implementation of a company wide integrated software application in fiscal 2003 , identifiable assets for the four principal operating segments only consist of inventories , intangible assets , and property and equipment . the company has presented all other assets as corporate assets . prior periods have been restated to conform to this presentation . intersegment sales and transfers are not significant. .
Question: what was the percentage change in rental expense between 2002 and 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: |
0.03125 | Context:under this line are primarily used by our european subsidiaries to settle intercompany sales and are denominated in the respective local currencies of its european subsidiaries . the line of credit may be canceled by the bank with 30 days notice . at september 27 , 2003 , there were no outstanding borrowings under this line . in september 2001 we obtained a secured loan from wells fargo foothill , inc . the loan agreement with wells fargo foothill , inc . provides for a term loan of approximately $ 2.4 million , which we borrowed at signing , and a revolving line of credit facility . the maximum amount we can borrow under the loan agreement and amendments is $ 20.0 million . the loan agreement and amendments contain financial and other covenants and the actual amount which we can borrow under the line of credit at any time is based upon a formula tied to the amount of our qualifying accounts receivable . in july 2003 we amended this loan agreement primarily to simplify financial covenants and to reduce the fees related to this facility . the term loan accrues interest at prime plus 1.0% ( 1.0 % ) for five years . the line of credit advances accrue interest at prime plus 0.25% ( 0.25 % ) . the line of credit expires in september 2005 . we were in compliance with all covenants as of september 27 , 2003 . in april 2002 , we began an implementation project for an integrated enterprise wide software application . we began operational use of this software application at the bedford , ma and newark , de facilities on november 24 , 2002 , at the danbury , ct facility on february 24 , 2003 and at the brussels , belgium location on october 2 , 2003 . through september 27 , 2003 we have made payments totaling $ 3.4 million for hardware , software and consulting services representing substantially all of our capital commitments related to this implementation project . most of the cost has been capitalized and we began to amortize these costs over their expected useful lives in december 2002 . in september 2002 , we completed a sale/leaseback transaction for our headquarters and manufacturing facility located in bedford , massachusetts and our lorad manufacturing facility in danbury , connecticut . the transaction resulted in net proceeds to us of $ 31.4 million . the new lease for these facilities , including the associated land , has a term of 20 years , with four five-year year renewal terms , which we may exercise at our option . the basic rent for the facilities is $ 3.2 million per year , which is subject to adjustment for increases in the consumer price index . the aggregate total minimum lease payments during the initial 20-year term are $ 62.9 million . in addition , we are required to maintain the facilities during the term of the lease and to pay all taxes , insurance , utilities and other costs associated with those facilities . under the lease , we make customary representations and warranties and agree to certain financial covenants and indemnities . in the event we default on the lease , the landlord may terminate the lease , accelerate payments and collect liquidated damages . the following table summarizes our contractual obligations and commitments as of september 27 , 2003 : payments due by period ( in thousands ) contractual obligations total less than 1 year years thereafter .
|contractual obligations|payments due by period ( in thousands ) total|payments due by period ( in thousands ) less than 1 year|payments due by period ( in thousands ) 2-3 years|payments due by period ( in thousands ) 4-5 years|payments due by period ( in thousands ) thereafter|
|long term debt|$ 2030|$ 480|$ 1550|$ 2014|$ 2014|
|operating leases|$ 62934|$ 4371|$ 8160|$ 6482|$ 43921|
|total contractual cash obligations|$ 64964|$ 4851|$ 9710|$ 6482|$ 43921|
except as set forth above , we do not have any other significant capital commitments . we are working on several projects , with an emphasis on direct radiography plates . we believe that we have sufficient funds in order to fund our expected operations over the next twelve months . recent accounting pronouncements in december 2002 , sfas no . 148 , accounting for stock-based compensation 2013 transition and disclosure was issued . sfas no . 148 amends sfas no . 123 to provide alternative methods of transition to the fair value method of accounting for stock-based employee compensation . in addition , sfas no . 148 amends the disclosure provisions of sfas no . 123 to require disclosure in the summary of significant accounting policies of the effects .
Question: what percentage of total contractual obligations and commitments as of september 27 , 2003 : payments due is composed of long term debt? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.085 | Context:backlog backlog increased in 2015 compared to 2014 primarily due to higher orders on f-35 and c-130 programs . backlog decreased slightly in 2014 compared to 2013 primarily due to lower orders on f-16 and f-22 programs . trends we expect aeronautics 2019 2016 net sales to increase in the mid-single digit percentage range as compared to 2015 due to increased volume on the f-35 and c-130 programs , partially offset by decreased volume on the f-16 program . operating profit is also expected to increase in the low single-digit percentage range , driven by increased volume on the f-35 program offset by contract mix that results in a slight decrease in operating margins between years . information systems & global solutions our is&gs business segment provides advanced technology systems and expertise , integrated information technology solutions and management services across a broad spectrum of applications for civil , defense , intelligence and other government customers . is&gs 2019 technical services business provides a comprehensive portfolio of technical and sustainment services . is&gs has a portfolio of many smaller contracts as compared to our other business segments . is&gs has been impacted by the continued downturn in certain federal agencies 2019 information technology budgets and increased re-competition on existing contracts coupled with the fragmentation of large contracts into multiple smaller contracts that are awarded primarily on the basis of price . is&gs 2019 operating results included the following ( in millions ) : .
||2015|2014|2013|
|net sales|$ 5596|$ 5654|$ 6115|
|operating profit|508|472|498|
|operating margins|9.1% ( 9.1 % )|8.3% ( 8.3 % )|8.1% ( 8.1 % )|
|backlog at year-end|$ 4800|$ 6000|$ 6300|
2015 compared to 2014 is&gs 2019 net sales decreased $ 58 million , or 1% ( 1 % ) , in 2015 as compared to 2014 . the decrease was attributable to lower net sales of approximately $ 395 million as a result of key program completions , lower customer funding levels and increased competition , coupled with the fragmentation of existing large contracts into multiple smaller contracts that are awarded primarily on the basis of price when re-competed ( including cms-citic ) . these decreases were partially offset by higher net sales of approximately $ 230 million for businesses acquired in 2014 ; and approximately $ 110 million due to the start-up of new programs and growth in recently awarded programs . is&gs 2019 operating profit increased $ 36 million , or 8% ( 8 % ) , in 2015 as compared to 2014 . the increase was attributable to improved program performance and risk retirements , offset by decreased operating profit resulting from the activities mentioned above for net sales . adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 70 million higher in 2015 compared to 2014 . 2014 compared to 2013 is&gs 2019 net sales decreased $ 461 million , or 8% ( 8 % ) , in 2014 as compared to 2013 . the decrease was primarily attributable to lower net sales of about $ 475 million due to the wind-down or completion of certain programs , driven by reductions in direct warfighter support ( including jieddo ) ; and approximately $ 320 million due to decreased volume in technical services programs reflecting market pressures . the decreases were offset by higher net sales of about $ 330 million due to the start-up of new programs , growth in recently awarded programs and integration of recently acquired companies . is&gs 2019 operating profit decreased $ 26 million , or 5% ( 5 % ) , in 2014 as compared to 2013 . the decrease was primarily attributable to the activities mentioned above for sales , partially offset by severance recoveries related to the restructuring announced in november 2013 of approximately $ 20 million in 2014 . adjustments not related to volume , including net profit booking rate adjustments , were comparable in 2014 and 2013. .
Question: what was the average operating margins for is&gs from 2013 to 2015? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
61.65161 | Context:item 11 2014executive compensation we incorporate by reference in this item 11 the information relating to executive and director compensation contained under the headings 201cother information about the board and its committees , 201d 201ccompensation and other benefits 201d and 201creport of the compensation committee 201d from our proxy statement to be delivered in connection with our 2013 annual meeting of shareholders to be held on november 20 , 2013 . item 12 2014security ownership of certain beneficial owners and management and related stockholder matters we incorporate by reference in this item 12 the information relating to ownership of our common stock by certain persons contained under the headings 201ccommon stock ownership of management 201d and 201ccommon stock ownership by certain other persons 201d from our proxy statement to be delivered in connection with our 2013 annual meeting of shareholders to be held on november 20 , 2013 . the following table provides certain information as of may 31 , 2013 concerning the shares of the company 2019s common stock that may be issued under existing equity compensation plans . for more information on these plans , see note 11 to notes to consolidated financial statements . plan category number of securities to be issued upon exercise of outstanding options , warrants and rights weighted- average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) equity compensation plans approved by security holders : 1765510 $ 34.92 7927210 ( 1 ) equity compensation plans not approved by security holders : 2014 2014 2014 .
|plan category|number of securities to be issued upon exercise of outstanding options warrants and rights ( a )|weighted-average exerciseprice of outstanding options warrants and rights ( b )|number of securitiesremaining available forfuture issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) ( c )||
|equity compensation plans approved by security holders:|1765510|$ 34.92|7927210|-1 ( 1 )|
|equity compensation plans not approved by security holders:|2014|2014|2014||
|total|1765510|$ 34.92|7927210|-1 ( 1 )|
( 1 ) also includes shares of common stock available for issuance other than upon the exercise of an option , warrant or right under the global payments inc . 2000 long-term incentive plan , as amended and restated , the global payments inc . amended and restated 2005 incentive plan , amended and restated 2000 non- employee director stock option plan , global payments employee stock purchase plan and the global payments inc . 2011 incentive plan . item 13 2014certain relationships and related transactions , and director independence we incorporate by reference in this item 13 the information regarding certain relationships and related transactions between us and some of our affiliates and the independence of our board of directors contained under the headings 201ccertain relationships and related transactions 201d and 201cother information about the board and its committees 201d from our proxy statement to be delivered in connection with our 2013 annual meeting of shareholders to be held on november 20 , 2013 . item 14 2014principal accounting fees and services we incorporate by reference in this item 14 the information regarding principal accounting fees and services contained under the section ratification of the reappointment of auditors from our proxy statement to be delivered in connection with our 2013 annual meeting of shareholders to be held on november 20 , 2013. .
Question: what is the total value of securities approved by security holders , ( 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: |
0.20103 | Context:part iii item 10 . directors , executive officers and corporate governance for the information required by this item 10 , other than information with respect to our executive officers contained at the end of item 1 of this report , see 201celection of directors , 201d 201cnominees for election to the board of directors , 201d 201ccorporate governance 201d and 201csection 16 ( a ) beneficial ownership reporting compliance , 201d in the proxy statement for our 2015 annual meeting , which information is incorporated herein by reference . the proxy statement for our 2015 annual meeting will be filed within 120 days of the close of our fiscal year . for the information required by this item 10 with respect to our executive officers , see part i of this report on pages 11 - 12 . item 11 . executive compensation for the information required by this item 11 , see 201cexecutive compensation , 201d 201ccompensation committee report on executive compensation 201d and 201ccompensation committee interlocks and insider participation 201d in the proxy statement for our 2015 annual meeting , which information is incorporated herein by reference . item 12 . security ownership of certain beneficial owners and management and related stockholder matters for the information required by this item 12 with respect to beneficial ownership of our common stock , see 201csecurity ownership of certain beneficial owners and management 201d in the proxy statement for our 2015 annual meeting , which information is incorporated herein by reference . the following table sets forth certain information as of december 31 , 2014 regarding our equity plans : plan category number of securities to be issued upon exercise of outstanding options , warrants and rights weighted-average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ( b ) ( c ) equity compensation plans approved by security holders 1233672 $ 75.93 4903018 item 13 . certain relationships and related transactions , and director independence for the information required by this item 13 , see 201ccertain transactions 201d and 201ccorporate governance 201d in the proxy statement for our 2015 annual meeting , which information is incorporated herein by reference . item 14 . principal accounting fees and services for the information required by this item 14 , see 201caudit and non-audit fees 201d and 201cpolicy on audit committee pre- approval of audit and non-audit services of independent registered public accounting firm 201d in the proxy statement for our 2015 annual meeting , which information is incorporated herein by reference. .
|plan category|number of securitiesto be issued uponexercise ofoutstanding options warrants and rights ( a ) ( b )|weighted-averageexercise price ofoutstanding options warrants and rights|number of securitiesremaining available forfuture issuance underequity compensationplans ( excludingsecurities reflected in column ( a ) ) ( c )|
|equity compensation plans approved by security holders|1233672|$ 75.93|4903018|
part iii item 10 . directors , executive officers and corporate governance for the information required by this item 10 , other than information with respect to our executive officers contained at the end of item 1 of this report , see 201celection of directors , 201d 201cnominees for election to the board of directors , 201d 201ccorporate governance 201d and 201csection 16 ( a ) beneficial ownership reporting compliance , 201d in the proxy statement for our 2015 annual meeting , which information is incorporated herein by reference . the proxy statement for our 2015 annual meeting will be filed within 120 days of the close of our fiscal year . for the information required by this item 10 with respect to our executive officers , see part i of this report on pages 11 - 12 . item 11 . executive compensation for the information required by this item 11 , see 201cexecutive compensation , 201d 201ccompensation committee report on executive compensation 201d and 201ccompensation committee interlocks and insider participation 201d in the proxy statement for our 2015 annual meeting , which information is incorporated herein by reference . item 12 . security ownership of certain beneficial owners and management and related stockholder matters for the information required by this item 12 with respect to beneficial ownership of our common stock , see 201csecurity ownership of certain beneficial owners and management 201d in the proxy statement for our 2015 annual meeting , which information is incorporated herein by reference . the following table sets forth certain information as of december 31 , 2014 regarding our equity plans : plan category number of securities to be issued upon exercise of outstanding options , warrants and rights weighted-average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ( b ) ( c ) equity compensation plans approved by security holders 1233672 $ 75.93 4903018 item 13 . certain relationships and related transactions , and director independence for the information required by this item 13 , see 201ccertain transactions 201d and 201ccorporate governance 201d in the proxy statement for our 2015 annual meeting , which information is incorporated herein by reference . item 14 . principal accounting fees and services for the information required by this item 14 , see 201caudit and non-audit fees 201d and 201cpolicy on audit committee pre- approval of audit and non-audit services of independent registered public accounting firm 201d in the proxy statement for our 2015 annual meeting , which information is incorporated herein by reference. .
Question: what portion of the total number of securities approved by the security holders 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: |
16959131390.1 | Context:part ii item 5 . market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities the following table presents reported quarterly high and low per share sale prices of our class a common stock on the new york stock exchange ( nyse ) for the years 2006 and 2005. .
|2006|high|low|
|quarter ended march 31|$ 32.68|$ 26.66|
|quarter ended june 30|35.75|27.35|
|quarter ended september 30|36.92|29.98|
|quarter ended december 31|38.74|35.21|
|2005|high|low|
|quarter ended march 31|$ 19.28|$ 17.30|
|quarter ended june 30|21.16|16.28|
|quarter ended september 30|25.20|20.70|
|quarter ended december 31|28.33|22.73|
on february 22 , 2007 , the closing price of our class a common stock was $ 40.38 per share as reported on the nyse . as of february 22 , 2007 , we had 419988395 outstanding shares of class a common stock and 623 registered holders . in february 2004 , all outstanding shares of our class b common stock were converted into shares of our class a common stock on a one-for-one basis pursuant to the occurrence of the 201cdodge conversion event 201d as defined in our charter . also in february 2004 , all outstanding shares of class c common stock were converted into shares of class a common stock on a one-for-one basis . in august 2005 , we amended and restated our charter to , among other things , eliminate our class b common stock and class c common stock . dividends we have never paid a dividend on any class of our common stock . we anticipate that we may retain future earnings , if any , to fund the development and growth of our business . the indentures governing our 7.50% ( 7.50 % ) senior notes due 2012 ( 7.50% ( 7.50 % ) notes ) and our 7.125% ( 7.125 % ) senior notes due 2012 ( 7.125% ( 7.125 % ) notes ) may prohibit us from paying dividends to our stockholders unless we satisfy certain financial covenants . our credit facilities and the indentures governing the terms of our debt securities contain covenants that may restrict the ability of our subsidiaries from making to us any direct or indirect distribution , dividend or other payment on account of their limited liability company interests , partnership interests , capital stock or other equity interests . under our credit facilities , the borrower subsidiaries may pay cash dividends or make other distributions to us in accordance with the applicable credit facility only if no default exists or would be created thereby . the indenture governing the terms of the ati 7.25% ( 7.25 % ) notes prohibit ati and certain of our other subsidiaries that have guaranteed those notes ( sister guarantors ) from paying dividends and making other payments or distributions to us unless certain financial covenants are satisfied . the indentures governing the terms of our 7.50% ( 7.50 % ) notes and 7.125% ( 7.125 % ) notes also contain certain restrictive covenants , which prohibit the restricted subsidiaries under these indentures from paying dividends and making other payments or distributions to us unless certain financial covenants are satisfied . for more information about the restrictions under our credit facilities and our notes indentures , see item 7 of this annual report under the caption 201cmanagement 2019s discussion and analysis of financial condition and results of operations 2014liquidity and capital resources 2014factors affecting sources of liquidity 201d and note 7 to our consolidated financial statements included in this annual report. .
Question: what was the market capitalization on february 222007 | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.18914 | Context:long-term product offerings include active and index strategies . our active strategies seek to earn attractive returns in excess of a market benchmark or performance hurdle while maintaining an appropriate risk profile . we offer two types of active strategies : those that rely primarily on fundamental research and those that utilize primarily quantitative models to drive portfolio construction . in contrast , index strategies seek to closely track the returns of a corresponding index , generally by investing in substantially the same underlying securities within the index or in a subset of those securities selected to approximate a similar risk and return profile of the index . index strategies include both our non-etf index products and ishares etfs . although many clients use both active and index strategies , the application of these strategies may differ . for example , clients may use index products to gain exposure to a market or asset class , or may use a combination of index strategies to target active returns . in addition , institutional non-etf index assignments tend to be very large ( multi-billion dollars ) and typically reflect low fee rates . this has the potential to exaggerate the significance of net flows in institutional index products on blackrock 2019s revenues and earnings . equity year-end 2016 equity aum totaled $ 2.657 trillion , reflecting net inflows of $ 51.4 billion . net inflows included $ 74.9 billion into ishares , driven by net inflows into the core ranges and broad developed and emerging market equities . ishares net inflows were partially offset by active and non-etf index net outflows of $ 20.2 billion and $ 3.3 billion , respectively . blackrock 2019s effective fee rates fluctuate due to changes in aum mix . approximately half of blackrock 2019s equity aum is tied to international markets , including emerging markets , which tend to have higher fee rates than u.s . equity strategies . accordingly , fluctuations in international equity markets , which may not consistently move in tandem with u.s . markets , have a greater impact on blackrock 2019s effective equity fee rates and revenues . fixed income fixed income aum ended 2016 at $ 1.572 trillion , reflecting net inflows of $ 120.0 billion . in 2016 , active net inflows of $ 16.6 billion were diversified across fixed income offerings , and included strong inflows from insurance clients . fixed income ishares net inflows of $ 59.9 billion were led by flows into the core ranges , emerging market , high yield and corporate bond funds . non-etf index net inflows of $ 43.4 billion were driven by demand for liability-driven investment solutions . multi-asset blackrock 2019s multi-asset team manages a variety of balanced funds and bespoke mandates for a diversified client base that leverages our broad investment expertise in global equities , bonds , currencies and commodities , and our extensive risk management capabilities . investment solutions might include a combination of long-only portfolios and alternative investments as well as tactical asset allocation overlays . component changes in multi-asset aum for 2016 are presented below . ( in millions ) december 31 , net inflows ( outflows ) market change impact december 31 .
|( in millions )|december 312015|net inflows ( outflows )|marketchange|fx impact|december 312016|
|asset allocation and balanced|$ 185836|$ -10332 ( 10332 )|$ 6705|$ -5534 ( 5534 )|$ 176675|
|target date/risk|125664|13500|10189|79|149432|
|fiduciary|64433|998|5585|-2621 ( 2621 )|68395|
|futureadvisor ( 1 )|403|61|41|2014|505|
|total|$ 376336|$ 4227|$ 22520|$ -8076 ( 8076 )|$ 395007|
( 1 ) the futureadvisor amount does not include aum that was held in ishares holdings . multi-asset net inflows reflected ongoing institutional demand for our solutions-based advice with $ 13.2 billion of net inflows coming from institutional clients . defined contribution plans of institutional clients remained a significant driver of flows , and contributed $ 11.3 billion to institutional multi-asset net inflows in 2016 , primarily into target date and target risk product offerings . retail net outflows of $ 9.4 billion were primarily due to outflows from world allocation strategies . the company 2019s multi-asset strategies include the following : 2022 asset allocation and balanced products represented 45% ( 45 % ) of multi-asset aum at year-end . these strategies combine equity , fixed income and alternative components for investors seeking a tailored solution relative to a specific benchmark and within a risk budget . in certain cases , these strategies seek to minimize downside risk through diversification , derivatives strategies and tactical asset allocation decisions . flagship products in this category include our global allocation and multi-asset income fund families . 2022 target date and target risk products grew 11% ( 11 % ) organically in 2016 , with net inflows of $ 13.5 billion . institutional investors represented 94% ( 94 % ) of target date and target risk aum , with defined contribution plans accounting for 88% ( 88 % ) of aum . flows were driven by defined contribution investments in our lifepath and lifepath retirement income ae offerings . lifepath products utilize a proprietary asset allocation model that seeks to balance risk and return over an investment horizon based on the investor 2019s expected retirement timing . 2022 fiduciary management services are complex mandates in which pension plan sponsors or endowments and foundations retain blackrock to assume responsibility for some or all aspects of plan management . these customized services require strong partnership with the clients 2019 investment staff and trustees in order to tailor investment strategies to meet client-specific risk budgets and return objectives. .
Question: what is the percent change in target date/risk from december 31 , 2015 to december 31 , 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: |
0.25325 | Context:part i item 1 entergy corporation , utility operating companies , and system energy entergy new orleans provides electric and gas service in the city of new orleans pursuant to indeterminate permits set forth in city ordinances ( except electric service in algiers , which is provided by entergy louisiana ) . these ordinances contain a continuing option for the city of new orleans to purchase entergy new orleans 2019s electric and gas utility properties . entergy texas holds a certificate of convenience and necessity from the puct to provide electric service to areas within approximately 27 counties in eastern texas , and holds non-exclusive franchises to provide electric service in approximately 68 incorporated municipalities . entergy texas was typically granted 50-year franchises , but recently has been receiving 25-year franchises . entergy texas 2019s electric franchises expire during 2013-2058 . the business of system energy is limited to wholesale power sales . it has no distribution franchises . property and other generation resources generating stations the total capability of the generating stations owned and leased by the utility operating companies and system energy as of december 31 , 2011 , is indicated below: .
|company|owned and leased capability mw ( 1 ) total|owned and leased capability mw ( 1 ) gas/oil|owned and leased capability mw ( 1 ) nuclear|owned and leased capability mw ( 1 ) coal|owned and leased capability mw ( 1 ) hydro|
|entergy arkansas|4774|1668|1823|1209|74|
|entergy gulf states louisiana|3317|1980|974|363|-|
|entergy louisiana|5424|4265|1159|-|-|
|entergy mississippi|3229|2809|-|420|-|
|entergy new orleans|764|764|-|-|-|
|entergy texas|2538|2269|-|269|-|
|system energy|1071|-|1071|-|-|
|total|21117|13755|5027|2261|74|
( 1 ) 201cowned and leased capability 201d is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel ( assuming no curtailments ) that each station was designed to utilize . the entergy system's load and capacity projections are reviewed periodically to assess the need and timing for additional generating capacity and interconnections . these reviews consider existing and projected demand , the availability and price of power , the location of new load , and the economy . summer peak load in the entergy system service territory has averaged 21246 mw from 2002-2011 . in the 2002 time period , the entergy system's long-term capacity resources , allowing for an adequate reserve margin , were approximately 3000 mw less than the total capacity required for peak period demands . in this time period the entergy system met its capacity shortages almost entirely through short-term power purchases in the wholesale spot market . in the fall of 2002 , the entergy system began a program to add new resources to its existing generation portfolio and began a process of issuing requests for proposals ( rfp ) to procure supply-side resources from sources other than the spot market to meet the unique regional needs of the utility operating companies . the entergy system has adopted a long-term resource strategy that calls for the bulk of capacity needs to be met through long-term resources , whether owned or contracted . entergy refers to this strategy as the "portfolio transformation strategy" . over the past nine years , portfolio transformation has resulted in the addition of about 4500 mw of new long-term resources . these figures do not include transactions currently pending as a result of the summer 2009 rfp . when the summer 2009 rfp transactions are included in the entergy system portfolio of long-term resources and adjusting for unit deactivations of older generation , the entergy system is approximately 500 mw short of its projected 2012 peak load plus reserve margin . this remaining need is expected to be met through a nuclear uprate at grand gulf and limited-term resources . the entergy system will continue to access the spot power market to economically .
Question: in 2011 what was the percent of the entergy arkansas property and other generation resources generating capacity that was from coal | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-0.13278 | Context:the following table illustrates the effect that a 10% ( 10 % ) unfavorable or favorable movement in foreign currency exchange rates , relative to the u.s . dollar , would have on the fair value of our forward exchange contracts as of october 30 , 2010 and october 31 , 2009: .
||october 30 2010|october 31 2009|
|fair value of forward exchange contracts asset|$ 7256|$ 8367|
|fair value of forward exchange contracts after a 10% ( 10 % ) unfavorable movement in foreign currency exchange rates asset|$ 22062|$ 20132|
|fair value of forward exchange contracts after a 10% ( 10 % ) favorable movement in foreign currency exchange rates liability|$ -7396 ( 7396 )|$ -6781 ( 6781 )|
fair value of forward exchange contracts after a 10% ( 10 % ) unfavorable movement in foreign currency exchange rates asset . . . . . . . . . . . . . . . . . $ 22062 $ 20132 fair value of forward exchange contracts after a 10% ( 10 % ) favorable movement in foreign currency exchange rates liability . . . . . . . . . . . . . . . . . . . . . . . $ ( 7396 ) $ ( 6781 ) the calculation assumes that each exchange rate would change in the same direction relative to the u.s . dollar . in addition to the direct effects of changes in exchange rates , such changes typically affect the volume of sales or the foreign currency sales price as competitors 2019 products become more or less attractive . our sensitivity analysis of the effects of changes in foreign currency exchange rates does not factor in a potential change in sales levels or local currency selling prices. .
Question: what is the growth rate in the fair value of forward exchange contracts asset 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: |
1.96482 | Context:management 2019s discussion and analysis jpmorgan chase & co . / 2008 annual report 39 five-year stock performance the following table and graph compare the five-year cumulative total return for jpmorgan chase & co . ( 201cjpmorgan chase 201d or the 201cfirm 201d ) common stock with the cumulative return of the s&p 500 stock index and the s&p financial index . the s&p 500 index is a commonly referenced u.s . equity benchmark consisting of leading companies from different economic sectors . the s&p financial index is an index of 81 financial companies , all of which are within the s&p 500 . the firm is a component of both industry indices . the following table and graph assumes simultaneous investments of $ 100 on december 31 , 2003 , in jpmorgan chase common stock and in each of the above s&p indices . the comparison assumes that all dividends are reinvested . this section of the jpmorgan chase 2019s annual report for the year ended december 31 , 2008 ( 201cannual report 201d ) provides manage- ment 2019s discussion and analysis of the financial condition and results of operations ( 201cmd&a 201d ) of jpmorgan chase . see the glossary of terms on pages 230 2013233 for definitions of terms used throughout this annual report . the md&a included in this annual report con- tains statements that are forward-looking within the meaning of the private securities litigation reform act of 1995 . such statements are based upon the current beliefs and expectations of jpmorgan december 31 .
|( in dollars )|2003|2004|2005|2006|2007|2008|
|jpmorgan chase|$ 100.00|$ 109.92|$ 116.02|$ 145.36|$ 134.91|$ 100.54|
|s&p financial index|100.00|110.89|118.07|140.73|114.51|51.17|
|s&p500|100.00|110.88|116.33|134.70|142.10|89.53|
december 31 , ( in dollars ) 2003 2004 2005 2006 2007 2008 s&p financial s&p 500jpmorgan chase chase 2019s management and are subject to significant risks and uncer- tainties . these risks and uncertainties could cause jpmorgan chase 2019s results to differ materially from those set forth in such forward-look- ing statements . certain of such risks and uncertainties are described herein ( see forward-looking statements on page 127 of this annual report ) and in the jpmorgan chase annual report on form 10-k for the year ended december 31 , 2008 ( 201c2008 form 10-k 201d ) , in part i , item 1a : risk factors , to which reference is hereby made . introduction jpmorgan chase & co. , a financial holding company incorporated under delaware law in 1968 , is a leading global financial services firm and one of the largest banking institutions in the united states of america ( 201cu.s . 201d ) , with $ 2.2 trillion in assets , $ 166.9 billion in stockholders 2019 equity and operations in more than 60 countries as of december 31 , 2008 . the firm is a leader in investment banking , financial services for consumers and businesses , financial transaction processing and asset management . under the j.p . morgan and chase brands , the firm serves millions of customers in the u.s . and many of the world 2019s most prominent corporate , institutional and government clients . jpmorgan chase 2019s principal bank subsidiaries are jpmorgan chase bank , national association ( 201cjpmorgan chase bank , n.a . 201d ) , a nation- al banking association with branches in 23 states in the u.s. ; and chase bank usa , national association ( 201cchase bank usa , n.a . 201d ) , a national bank that is the firm 2019s credit card issuing bank . jpmorgan chase 2019s principal nonbank subsidiary is j.p . morgan securities inc. , the firm 2019s u.s . investment banking firm . jpmorgan chase 2019s activities are organized , for management reporting purposes , into six business segments , as well as corporate/private equity . the firm 2019s wholesale businesses comprise the investment bank , commercial banking , treasury & securities services and asset management segments . the firm 2019s consumer businesses comprise the retail financial services and card services segments . a description of the firm 2019s business segments , and the products and services they pro- vide to their respective client bases , follows . investment bank j.p . morgan is one of the world 2019s leading investment banks , with deep client relationships and broad product capabilities . the investment bank 2019s clients are corporations , financial institutions , governments and institutional investors . the firm offers a full range of investment banking products and services in all major capital markets , including advising on corporate strategy and structure , cap- ital raising in equity and debt markets , sophisticated risk manage- ment , market-making in cash securities and derivative instruments , prime brokerage and research . the investment bank ( 201cib 201d ) also selectively commits the firm 2019s own capital to principal investing and trading activities . retail financial services retail financial services ( 201crfs 201d ) , which includes the retail banking and consumer lending reporting segments , serves consumers and businesses through personal service at bank branches and through atms , online banking and telephone banking as well as through auto dealerships and school financial aid offices . customers can use more than 5400 bank branches ( third-largest nationally ) and 14500 atms ( second-largest nationally ) as well as online and mobile bank- ing around the clock . more than 21400 branch salespeople assist .
Question: based on the belief and expectations of the jpmorgan chase expectations what was the ratio of the jpmorgan chase to the s&p financial index performance at december 312008 | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
1.2959 | Context:6feb201418202649 performance graph the table below compares the cumulative total shareholder return on our common stock with the cumulative total return of ( i ) the standard & poor 2019s 500 composite stock index ( 2018 2018s&p 500 index 2019 2019 ) , ( ii ) the standard & poor 2019s industrials index ( 2018 2018s&p industrials index 2019 2019 ) and ( iii ) the standard & poor 2019s consumer durables & apparel index ( 2018 2018s&p consumer durables & apparel index 2019 2019 ) , from december 31 , 2008 through december 31 , 2013 , when the closing price of our common stock was $ 22.77 . the graph assumes investments of $ 100 on december 31 , 2008 in our common stock and in each of the three indices and the reinvestment of dividends . $ 350.00 $ 300.00 $ 250.00 $ 200.00 $ 150.00 $ 100.00 $ 50.00 performance graph .
||2009|2010|2011|2012|2013|
|masco|$ 128.21|$ 120.32|$ 102.45|$ 165.80|$ 229.59|
|s&p 500 index|$ 125.92|$ 144.58|$ 147.60|$ 171.04|$ 225.85|
|s&p industrials index|$ 120.19|$ 151.89|$ 150.97|$ 173.87|$ 243.73|
|s&p consumer durables & apparel index|$ 136.29|$ 177.91|$ 191.64|$ 232.84|$ 316.28|
in july 2007 , our board of directors authorized the purchase of up to 50 million shares of our common stock in open-market transactions or otherwise . at december 31 , 2013 , we had remaining authorization to repurchase up to 22.6 million shares . during the first quarter of 2013 , we repurchased and retired 1.7 million shares of our common stock , for cash aggregating $ 35 million to offset the dilutive impact of the 2013 grant of 1.7 million shares of long-term stock awards . we have not purchased any shares since march 2013. .
Question: what was the percentage cumulative total shareholder return on masco common stock for the five year period ended 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: |
1.65818 | Context:the debentures are unsecured , subordinated and junior in right of payment and upon liquidation to all of the company 2019s existing and future senior indebtedness . in addition , the debentures are effectively subordinated to all of the company 2019s subsidiaries 2019 existing and future indebtedness and other liabilities , including obligations to policyholders . the debentures do not limit the company 2019s or the company 2019s subsidiaries 2019 ability to incur additional debt , including debt that ranks senior in right of payment and upon liquidation to the debentures . the debentures rank equally in right of payment and upon liquidation with ( i ) any indebtedness the terms of which provide that such indebtedness ranks equally with the debentures , including guarantees of such indebtedness , ( ii ) the company 2019s existing 8.125% ( 8.125 % ) fixed- to-floating rate junior subordinated debentures due 2068 ( the 201c8.125% ( 201c8.125 % ) debentures 201d ) , ( iii ) the company 2019s income capital obligation notes due 2067 , issuable pursuant to the junior subordinated indenture , dated as of february 12 , 2007 , between the company and wilmington trust company ( the 201cicon securities 201d ) , ( iv ) our trade accounts payable , and ( v ) any of our indebtedness owed to a person who is our subsidiary or employee . long-term debt maturities long-term debt maturities ( at par values ) , as of december 31 , 2013 are summarized as follows: .
|2014|$ 200|
|2015|456|
|2016|275|
|2017|711|
|2018|320|
|thereafter|4438|
shelf registrations on august 9 , 2013 , the company filed with the securities and exchange commission ( the 201csec 201d ) an automatic shelf registration statement ( registration no . 333-190506 ) for the potential offering and sale of debt and equity securities . the registration statement allows for the following types of securities to be offered : debt securities , junior subordinated debt securities , preferred stock , common stock , depositary shares , warrants , stock purchase contracts , and stock purchase units . in that the hartford is a well-known seasoned issuer , as defined in rule 405 under the securities act of 1933 , the registration statement went effective immediately upon filing and the hartford may offer and sell an unlimited amount of securities under the registration statement during the three-year life of the registration statement . contingent capital facility the company is party to a put option agreement that provides the hartford with the right to require the glen meadow abc trust , a delaware statutory trust , at any time and from time to time , to purchase the hartford 2019s junior subordinated notes in a maximum aggregate principal amount not to exceed $ 500 . under the put option agreement , the hartford will pay the glen meadow abc trust premiums on a periodic basis , calculated with respect to the aggregate principal amount of notes that the hartford had the right to put to the glen meadow abc trust for such period . the hartford has agreed to reimburse the glen meadow abc trust for certain fees and ordinary expenses . the company holds a variable interest in the glen meadow abc trust where the company is not the primary beneficiary . as a result , the company did not consolidate the glen meadow abc trust . as of december 31 , 2013 , the hartford has not exercised its right to require glen meadow abc trust to purchase the notes . as a result , the notes remain a source of capital for the hfsg holding company . revolving credit facilities the company has a senior unsecured revolving credit facility ( the "credit facility" ) that provides for borrowing capacity up to $ 1.75 billion ( which is available in u.s . dollars , and in euro , sterling , canadian dollars and japanese yen ) through january 6 , 2016 . as of december 31 , 2013 , there were no borrowings outstanding under the credit facility . of the total availability under the credit facility , up to $ 250 is available to support letters of credit issued on behalf of the company or subsidiaries of the company . under the credit facility , the company must maintain a minimum level of consolidated net worth of $ 14.9 billion . the definition of consolidated net worth under the terms of the credit facility , excludes aoci and includes the company's outstanding junior subordinated debentures and , if any , perpetual preferred securities , net of discount . in addition , the company 2019s maximum ratio of consolidated total debt to consolidated total capitalization is limited to 35% ( 35 % ) , and the ratio of consolidated total debt of subsidiaries to consolidated total capitalization is limited to 10% ( 10 % ) . as of december 31 , 2013 , the company was in compliance with all financial covenants under the credit facility . table of contents the hartford financial services group , inc . notes to consolidated financial statements ( continued ) 13 . debt ( continued ) .
Question: as of december 31 , 2013 what was the ratio of the long-term debt maturities due in 2015 compared 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: |
386.0 | Context:interest-earning assets including unearned income in the accretion of fair value adjustments on discounts recognized on acquired or purchased loans is recognized based on the constant effective yield of the financial instrument . the timing and amount of revenue that we recognize in any period is dependent on estimates , judgments , assumptions , and interpretation of contractual terms . changes in these factors can have a significant impact on revenue recognized in any period due to changes in products , market conditions or industry norms . residential and commercial mortgage servicing rights we elect to measure our residential mortgage servicing rights ( msrs ) at fair value . this election was made to be consistent with our risk management strategy to hedge changes in the fair value of these assets as described below . the fair value of residential msrs is estimated by using a cash flow valuation model which calculates the present value of estimated future net servicing cash flows , taking into consideration actual and expected mortgage loan prepayment rates , discount rates , servicing costs , and other economic factors which are determined based on current market conditions . assumptions incorporated into the residential msrs valuation model reflect management 2019s best estimate of factors that a market participant would use in valuing the residential msrs . although sales of residential msrs do occur , residential msrs do not trade in an active market with readily observable prices so the precise terms and conditions of sales are not available . as a benchmark for the reasonableness of its residential msrs fair value , pnc obtains opinions of value from independent parties ( 201cbrokers 201d ) . these brokers provided a range ( +/- 10 bps ) based upon their own discounted cash flow calculations of our portfolio that reflected conditions in the secondary market , and any recently executed servicing transactions . pnc compares its internally-developed residential msrs value to the ranges of values received from the brokers . if our residential msrs fair value falls outside of the brokers 2019 ranges , management will assess whether a valuation adjustment is warranted . for 2011 and 2010 , pnc 2019s residential msrs value has not fallen outside of the brokers 2019 ranges . we consider our residential msrs value to represent a reasonable estimate of fair value . commercial msrs are purchased or originated when loans are sold with servicing retained . commercial msrs do not trade in an active market with readily observable prices so the precise terms and conditions of sales are not available . commercial msrs are initially recorded at fair value and are subsequently accounted for at the lower of amortized cost or fair value . commercial msrs are periodically evaluated for impairment . for purposes of impairment , the commercial mortgage servicing rights are stratified based on asset type , which characterizes the predominant risk of the underlying financial asset . the fair value of commercial msrs is estimated by using an internal valuation model . the model calculates the present value of estimated future net servicing cash flows considering estimates of servicing revenue and costs , discount rates and prepayment speeds . pnc employs risk management strategies designed to protect the value of msrs from changes in interest rates and related market factors . residential msrs values are economically hedged with securities and derivatives , including interest-rate swaps , options , and forward mortgage-backed and futures contracts . as interest rates change , these financial instruments are expected to have changes in fair value negatively correlated to the change in fair value of the hedged residential msrs portfolio . the hedge relationships are actively managed in response to changing market conditions over the life of the residential msrs assets . commercial msrs are economically hedged at a macro level or with specific derivatives to protect against a significant decline in interest rates . selecting appropriate financial instruments to economically hedge residential or commercial msrs requires significant management judgment to assess how mortgage rates and prepayment speeds could affect the future values of msrs . hedging results can frequently be less predictable in the short term , but over longer periods of time are expected to protect the economic value of the msrs . the fair value of residential and commercial msrs and significant inputs to the valuation model as of december 31 , 2011 are shown in the tables below . the expected and actual rates of mortgage loan prepayments are significant factors driving the fair value . management uses a third-party model to estimate future residential loan prepayments and internal proprietary models to estimate future commercial loan prepayments . these models have been refined based on current market conditions . future interest rates are another important factor in the valuation of msrs . management utilizes market implied forward interest rates to estimate the future direction of mortgage and discount rates . the forward rates utilized are derived from the current yield curve for u.s . dollar interest rate swaps and are consistent with pricing of capital markets instruments . changes in the shape and slope of the forward curve in future periods may result in volatility in the fair value estimate . residential mortgage servicing rights dollars in millions december 31 december 31 .
|dollars in millions|december 31 2011|december 312010|
|fair value|$ 647|$ 1033|
|weighted-average life ( in years ) ( a )|3.6|5.8|
|weighted-average constant prepayment rate ( a )|22.10% ( 22.10 % )|12.61% ( 12.61 % )|
|weighted-average option adjusted spread|11.77% ( 11.77 % )|12.18% ( 12.18 % )|
weighted-average constant prepayment rate ( a ) 22.10% ( 22.10 % ) 12.61% ( 12.61 % ) weighted-average option adjusted spread 11.77% ( 11.77 % ) 12.18% ( 12.18 % ) ( a ) changes in weighted-average life and weighted-average constant prepayment rate reflect the cumulative impact of changes in rates , prepayment expectations and model changes . the pnc financial services group , inc . 2013 form 10-k 65 .
Question: what was the change in fair value residential mortgage servicing rights dollars in millions between 2020 and 2011? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.08 | Context:as described above , the borrowings are extended on a non-recourse basis . as such , there is no credit or market risk exposure to us on the assets , and as a result the terms of the amlf permit exclusion of the assets from regulatory leverage and risk-based capital calculations . the interest rate on the borrowings is set by the federal reserve bank , and we earn net interest revenue by earning a spread on the difference between the yield we earn on the assets and the rate we pay on the borrowings . for 2008 , we earned net interest revenue associated with this facility of approximately $ 68 million . separately , we currently maintain a commercial paper program under which we can issue up to $ 3 billion with original maturities of up to 270 days from the date of issue . at december 31 , 2008 and 2007 , $ 2.59 billion and $ 2.36 billion , respectively , of commercial paper were outstanding . in addition , state street bank currently has board authority to issue bank notes up to an aggregate of $ 5 billion , including up to $ 2.48 billion of senior notes under the fdic 2019s temporary liquidity guarantee program , instituted by the fdic in october 2008 for qualified senior debt issued through june 30 , 2009 , and up to $ 1 billion of subordinated bank notes ( see note 10 ) . at december 31 , 2008 and 2007 , no notes payable were outstanding , and at december 31 , 2008 , all $ 5 billion was available for issuance . state street bank currently maintains a line of credit of cad $ 800 million , or approximately $ 657 million , to support its canadian securities processing operations . the line of credit has no stated termination date and is cancelable by either party with prior notice . at december 31 , 2008 , no balance was due on this line of credit . note 9 . restructuring charges in december 2008 , we implemented a plan to reduce our expenses from operations and support our long- term growth . in connection with this plan , we recorded aggregate restructuring charges of $ 306 million in our consolidated statement of income . the primary component of the plan was an involuntary reduction of approximately 7% ( 7 % ) of our global workforce , which reduction we expect to be substantially completed by the end of the first quarter of 2009 . other components of the plan included costs related to lease and software license terminations , restructuring of agreements with technology providers and other costs . of the aggregate restructuring charges of $ 306 million , $ 243 million related to severance , a portion of which will be paid in a lump sum or over a defined period , and a portion of which will provide related benefits and outplacement services for approximately 2100 employees identified for involuntary termination in connection with the plan ; $ 49 million related to future lease obligations and write-offs of capitalized assets , including $ 23 million for impairment of other intangible assets ; $ 10 million of costs associated with information technology and $ 4 million of other restructuring costs . the severance component included $ 47 million related to accelerated vesting of equity-based compensation . in december 2008 , approximately 620 employees were involuntarily terminated and left state street . the following table presents the activity in the related balance sheet reserve for 2008 . ( in millions ) severance lease and write-offs information technology other total .
|( in millions )|severance|lease and asset write-offs|information technology|other|total|
|initial accrual|$ 250|$ 42|$ 10|$ 4|$ 306|
|payments and adjustments|-20 ( 20 )|-25 ( 25 )|-10 ( 10 )|-1 ( 1 )|-56 ( 56 )|
|balance at december 31 2008|$ 230|$ 17|2014|$ 3|$ 250|
.
Question: what percent of severence was paid off in 2008? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.15721 | Context:entergy corporation and subsidiaries notes to financial statements sale and leaseback transactions waterford 3 lease obligations in 1989 , in three separate but substantially identical transactions , entergy louisiana sold and leased back undivided interests in waterford 3 for the aggregate sum of $ 353.6 million . the interests represent approximately 9.3% ( 9.3 % ) of waterford 3 . the leases expire in 2017 . under certain circumstances , entergy louisiana may repurchase the leased interests prior to the end of the term of the leases . at the end of the lease terms , entergy louisiana has the option to repurchase the leased interests in waterford 3 at fair market value or to renew the leases for either fair market value or , under certain conditions , a fixed rate . entergy louisiana issued $ 208.2 million of non-interest bearing first mortgage bonds as collateral for the equity portion of certain amounts payable under the leases . upon the occurrence of certain events , entergy louisiana may be obligated to assume the outstanding bonds used to finance the purchase of the interests in the unit and to pay an amount sufficient to withdraw from the lease transaction . such events include lease events of default , events of loss , deemed loss events , or certain adverse 201cfinancial events . 201d 201cfinancial events 201d include , among other things , failure by entergy louisiana , following the expiration of any applicable grace or cure period , to maintain ( i ) total equity capital ( including preferred membership interests ) at least equal to 30% ( 30 % ) of adjusted capitalization , or ( ii ) a fixed charge coverage ratio of at least 1.50 computed on a rolling 12 month basis . as of december 31 , 2011 , entergy louisiana was in compliance with these provisions . as of december 31 , 2011 , entergy louisiana had future minimum lease payments ( reflecting an overall implicit rate of 7.45% ( 7.45 % ) ) in connection with the waterford 3 sale and leaseback transactions , which are recorded as long-term debt , as follows : amount ( in thousands ) .
||amount ( in thousands )|
|2012|$ 39067|
|2013|26301|
|2014|31036|
|2015|28827|
|2016|16938|
|years thereafter|106335|
|total|248504|
|less : amount representing interest|60249|
|present value of net minimum lease payments|$ 188255|
grand gulf lease obligations in 1988 , in two separate but substantially identical transactions , system energy sold and leased back undivided ownership interests in grand gulf for the aggregate sum of $ 500 million . the interests represent approximately 11.5% ( 11.5 % ) of grand gulf . the leases expire in 2015 . under certain circumstances , system entergy may repurchase the leased interests prior to the end of the term of the leases . at the end of the lease terms , system energy has the option to repurchase the leased interests in grand gulf at fair market value or to renew the leases for either fair market value or , under certain conditions , a fixed rate . system energy is required to report the sale-leaseback as a financing transaction in its financial statements . for financial reporting purposes , system energy expenses the interest portion of the lease obligation and the plant depreciation . however , operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes . consistent with a recommendation contained in a .
Question: what portion of the total future minimum lease payments is due within 12 months? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.10689 | Context:2010 . on november 1 , 2010 , we redeemed all $ 400 million of our outstanding 6.65% ( 6.65 % ) notes due january 15 , 2011 . the redemption resulted in a $ 5 million early extinguishment charge . receivables securitization facility 2013 at december 31 , 2010 , we have recorded $ 100 million as secured debt under our receivables securitization facility . ( see further discussion of our receivables securitization facility in note 10. ) 15 . variable interest entities we have entered into various lease transactions in which the structure of the leases contain variable interest entities ( vies ) . these vies were created solely for the purpose of doing lease transactions ( principally involving railroad equipment and facilities ) and have no other activities , assets or liabilities outside of the lease transactions . within these lease arrangements , we have the right to purchase some or all of the assets at fixed prices . depending on market conditions , fixed-price purchase options available in the leases could potentially provide benefits to us ; however , these benefits are not expected to be significant . we maintain and operate the assets based on contractual obligations within the lease arrangements , which set specific guidelines consistent within the railroad industry . as such , we have no control over activities that could materially impact the fair value of the leased assets . we do not hold the power to direct the activities of the vies and , therefore , do not control the ongoing activities that have a significant impact on the economic performance of the vies . additionally , we do not have the obligation to absorb losses of the vies or the right to receive benefits of the vies that could potentially be significant to the we are not considered to be the primary beneficiary and do not consolidate these vies because our actions and decisions do not have the most significant effect on the vie 2019s performance and our fixed-price purchase price options are not considered to be potentially significant to the vie 2019s . the future minimum lease payments associated with the vie leases totaled $ 4.2 billion as of december 31 , 2010 . 16 . leases we lease certain locomotives , freight cars , and other property . the consolidated statement of financial position as of december 31 , 2010 and 2009 included $ 2520 million , net of $ 901 million of accumulated depreciation , and $ 2754 million , net of $ 927 million of accumulated depreciation , respectively , for properties held under capital leases . a charge to income resulting from the depreciation for assets held under capital leases is included within depreciation expense in our consolidated statements of income . future minimum lease payments for operating and capital leases with initial or remaining non-cancelable lease terms in excess of one year as of december 31 , 2010 , were as follows : millions operating leases capital leases .
|millions|operatingleases|capitalleases|
|2011|$ 613|$ 311|
|2012|526|251|
|2013|461|253|
|2014|382|261|
|2015|340|262|
|later years|2599|1355|
|total minimum lease payments|$ 4921|$ 2693|
|amount representing interest|n/a|-784 ( 784 )|
|present value of minimum lease payments|n/a|$ 1909|
the majority of capital lease payments relate to locomotives . rent expense for operating leases with terms exceeding one month was $ 624 million in 2010 , $ 686 million in 2009 , and $ 747 million in 2008 . when cash rental payments are not made on a straight-line basis , we recognize variable rental expense on a straight-line basis over the lease term . contingent rentals and sub-rentals are not significant. .
Question: in 2010 what was the percent of the total minimum lease payments due 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: |
Subsets and Splits