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0.01509 | Context:the following table sets forth the components of foreign currency translation adjustments for fiscal 2012 , 2011 and 2010 ( in thousands ) : .
||2012|2011|2010|
|beginning balance|$ 10580|$ 7632|$ 10640|
|foreign currency translation adjustments|-2225 ( 2225 )|5156|-4144 ( 4144 )|
|income tax effect relating to translation adjustments forundistributed foreign earnings|1314|-2208 ( 2208 )|1136|
|ending balance|$ 9669|$ 10580|$ 7632|
stock repurchase program to facilitate our stock repurchase program , designed to return value to our stockholders and minimize dilution from stock issuances , we repurchase shares in the open market and also enter into structured repurchase agreements with third-parties . authorization to repurchase shares to cover on-going dilution was not subject to expiration . however , this repurchase program was limited to covering net dilution from stock issuances and was subject to business conditions and cash flow requirements as determined by our board of directors from time to time . during the third quarter of fiscal 2010 , our board of directors approved an amendment to our stock repurchase program authorized in april 2007 from a non-expiring share-based authority to a time-constrained dollar-based authority . as part of this amendment , the board of directors granted authority to repurchase up to $ 1.6 billion in common stock through the end of fiscal 2012 . during the second quarter of fiscal 2012 , we exhausted our $ 1.6 billion authority granted by our board of directors in fiscal in april 2012 , the board of directors approved a new stock repurchase program granting authority to repurchase up to $ 2.0 billion in common stock through the end of fiscal 2015 . the new stock repurchase program approved by our board of directors is similar to our previous $ 1.6 billion stock repurchase program . during fiscal 2012 , 2011 and 2010 , we entered into several structured repurchase agreements with large financial institutions , whereupon we provided the financial institutions with prepayments totaling $ 405.0 million , $ 695.0 million and $ 850 million , respectively . of the $ 405.0 million of prepayments during fiscal 2012 , $ 100.0 million was under the new $ 2.0 billion stock repurchase program and the remaining $ 305.0 million was under our previous $ 1.6 billion authority . of the $ 850.0 million of prepayments during fiscal 2010 , $ 250.0 million was under the stock repurchase program prior to the program amendment in the third quarter of fiscal 2010 and the remaining $ 600.0 million was under the amended $ 1.6 billion time-constrained dollar-based authority . we enter into these agreements in order to take advantage of repurchasing shares at a guaranteed discount to the volume weighted average price ( 201cvwap 201d ) of our common stock over a specified period of time . we only enter into such transactions when the discount that we receive is higher than the foregone return on our cash prepayments to the financial institutions . there were no explicit commissions or fees on these structured repurchases . under the terms of the agreements , there is no requirement for the financial institutions to return any portion of the prepayment to us . the financial institutions agree to deliver shares to us at monthly intervals during the contract term . the parameters used to calculate the number of shares deliverable are : the total notional amount of the contract , the number of trading days in the contract , the number of trading days in the interval and the average vwap of our stock during the interval less the agreed upon discount . during fiscal 2012 , we repurchased approximately 11.5 million shares at an average price of $ 32.29 through structured repurchase agreements entered into during fiscal 2012 . during fiscal 2011 , we repurchased approximately 21.8 million shares at an average price of $ 31.81 through structured repurchase agreements entered into during fiscal 2011 . during fiscal 2010 , we repurchased approximately 31.2 million shares at an average price per share of $ 29.19 through structured repurchase agreements entered into during fiscal 2009 and fiscal 2010 . for fiscal 2012 , 2011 and 2010 , the prepayments were classified as treasury stock on our consolidated balance sheets at the payment date , though only shares physically delivered to us by november 30 , 2012 , december 2 , 2011 and december 3 , 2010 were excluded from the computation of earnings per share . as of november 30 , 2012 , $ 33.0 million of prepayments remained under these agreements . as of december 2 , 2011 and december 3 , 2010 , no prepayments remained under these agreements . table of contents adobe systems incorporated notes to consolidated financial statements ( continued ) .
Question: what is the growth rate in the average price of repurchased shares from 2011 to 2012? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.40351 | Context:news corporation notes to the consolidated financial statements consideration over the fair value of the net tangible and intangible assets acquired was recorded as goodwill . the allocation is as follows ( in millions ) : assets acquired: .
|intangible assets|$ 220|
|goodwill|115|
|net liabilities|-50 ( 50 )|
|total net assets acquired|$ 285|
the acquired intangible assets primarily relate to broadcast licenses , which have a fair value of approximately $ 185 million , tradenames , which have a fair value of approximately $ 27 million , and customer relationships with a fair value of approximately $ 8 million . the broadcast licenses and tradenames have indefinite lives and the customer relationships are being amortized over a weighted-average useful life of approximately 6 years . wireless group 2019s results are included within the news and information services segment , and it is considered a separate reporting unit for purposes of the company 2019s annual goodwill impairment review . rea group european business in december 2016 , rea group , in which the company holds a 61.6% ( 61.6 % ) interest , sold its european business for approximately $ 140 million ( approximately 20ac133 million ) in cash , which resulted in a pre-tax gain of $ 107 million for the fiscal year ended june 30 , 2017 . the sale allows rea group to focus on its core businesses in australia and asia . in addition to the acquisitions noted above and the investments referenced in note 6 2014investments , the company used $ 62 million of cash for additional acquisitions during fiscal 2017 , primarily consisting of australian regional media ( 201carm 201d ) . arm 2019s results are included within the news and information services segment . note 5 . restructuring programs the company recorded restructuring charges of $ 92 million , $ 71 million and $ 142 million for the fiscal years ended june 30 , 2019 , 2018 and 2017 , respectively , of which $ 77 million , $ 58 million and $ 133 million related to the news and information services segment , respectively . the restructuring charges recorded in fiscal 2019 , 2018 and 2017 were primarily for employee termination benefits. .
Question: what percent of total net assets acquired was goodwill? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
no | Context:credit rating fall below investment grade , the value of the outstanding undivided interest held by investors would be reduced , and , in certain cases , the investors would have the right to discontinue the facility . the railroad collected approximately $ 20.1 billion and $ 18.8 billion of receivables during the years ended december 31 , 2012 and 2011 , respectively . upri used certain of these proceeds to purchase new receivables under the facility . the costs of the receivables securitization facility include interest , which will vary based on prevailing commercial paper rates , program fees paid to banks , commercial paper issuing costs , and fees for unused commitment availability . the costs of the receivables securitization facility are included in interest expense and were $ 3 million , $ 4 million and $ 6 million for 2012 , 2011 and 2010 , respectively . the investors have no recourse to the railroad 2019s other assets , except for customary warranty and indemnity claims . creditors of the railroad do not have recourse to the assets of upri . in july 2012 , the receivables securitization facility was renewed for an additional 364-day period at comparable terms and conditions . subsequent event 2013 on january 2 , 2013 , we transferred an additional $ 300 million in undivided interest to investors under the receivables securitization facility , increasing the value of the outstanding undivided interest held by investors from $ 100 million to $ 400 million . contractual obligations and commercial commitments as described in the notes to the consolidated financial statements and as referenced in the tables below , we have contractual obligations and commercial commitments that may affect our financial condition . based on our assessment of the underlying provisions and circumstances of our contractual obligations and commercial commitments , including material sources of off-balance sheet and structured finance arrangements , other than the risks that we and other similarly situated companies face with respect to the condition of the capital markets ( as described in item 1a of part ii of this report ) , there is no known trend , demand , commitment , event , or uncertainty that is reasonably likely to occur that would have a material adverse effect on our consolidated results of operations , financial condition , or liquidity . in addition , our commercial obligations , financings , and commitments are customary transactions that are similar to those of other comparable corporations , particularly within the transportation industry . the following tables identify material obligations and commitments as of december 31 , 2012 : payments due by december 31 , contractual obligations after millions total 2013 2014 2015 2016 2017 2017 other .
|contractual obligationsmillions|total|payments due by december 31 2013|payments due by december 31 2014|payments due by december 31 2015|payments due by december 31 2016|payments due by december 31 2017|payments due by december 31 after2017|payments due by december 31 other|
|debt [a]|$ 12637|$ 507|$ 904|$ 632|$ 769|$ 900|$ 8925|$ -|
|operating leases [b]|4241|525|466|410|375|339|2126|-|
|capital lease obligations [c]|2441|282|265|253|232|243|1166|-|
|purchase obligations [d]|5877|3004|1238|372|334|213|684|32|
|other post retirement benefits [e]|452|43|44|45|45|46|229|-|
|income tax contingencies [f]|115|-|-|-|-|-|-|115|
|total contractualobligations|$ 25763|$ 4361|$ 2917|$ 1712|$ 1755|$ 1741|$ 13130|$ 147|
[a] excludes capital lease obligations of $ 1848 million and unamortized discount of $ ( 365 ) million . includes an interest component of $ 5123 million . [b] includes leases for locomotives , freight cars , other equipment , and real estate . [c] represents total obligations , including interest component of $ 593 million . [d] purchase obligations include locomotive maintenance contracts ; purchase commitments for fuel purchases , locomotives , ties , ballast , and rail ; and agreements to purchase other goods and services . for amounts where we cannot reasonably estimate the year of settlement , they are reflected in the other column . [e] includes estimated other post retirement , medical , and life insurance payments , payments made under the unfunded pension plan for the next ten years . [f] future cash flows for income tax contingencies reflect the recorded liabilities and assets for unrecognized tax benefits , including interest and penalties , as of december 31 , 2012 . for amounts where the year of settlement is uncertain , they are reflected in the other column. .
Question: was the 2012 ending balance under the receivables securitization facility sufficient to fund the 2013 payments due for operating leases? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.77594 | Context:entergy louisiana , llc and subsidiaries management 2019s financial discussion and analysis results of operations net income 2017 compared to 2016 net income decreased $ 305.7 million primarily due to the effect of the enactment of the tax cuts and jobs act , in december 2017 , which resulted in a decrease of $ 182.6 million in net income in 2017 , and the effect of a settlement with the irs related to the 2010-2011 irs audit , which resulted in a $ 136.1 million reduction of income tax expense in 2016 . also contributing to the decrease in net income were higher other operation and maintenance expenses . the decrease was partially offset by higher net revenue and higher other income . see note 3 to the financial statements for discussion of the effects of the tax cuts and jobs act and the irs audit . 2016 compared to 2015 net income increased $ 175.4 million primarily due to the effect of a settlement with the irs related to the 2010-2011 irs audit , which resulted in a $ 136.1 million reduction of income tax expense in 2016 . also contributing to the increase were lower other operation and maintenance expenses , higher net revenue , and higher other income . the increase was partially offset by higher depreciation and amortization expenses , higher interest expense , and higher nuclear refueling outage expenses . see note 3 to the financial statements for discussion of the irs audit . net revenue 2017 compared to 2016 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges ( credits ) . following is an analysis of the change in net revenue comparing 2017 to 2016 . amount ( in millions ) .
||amount ( in millions )|
|2016 net revenue|$ 2438.4|
|regulatory credit resulting from reduction of thefederal corporate income tax rate|55.5|
|retail electric price|42.8|
|louisiana act 55 financing savings obligation|17.2|
|volume/weather|-12.4 ( 12.4 )|
|other|19.0|
|2017 net revenue|$ 2560.5|
the regulatory credit resulting from reduction of the federal corporate income tax rate variance is due to the reduction of the vidalia purchased power agreement regulatory liability by $ 30.5 million and the reduction of the louisiana act 55 financing savings obligation regulatory liabilities by $ 25 million as a result of the enactment of the tax cuts and jobs act , in december 2017 , which lowered the federal corporate income tax rate from 35% ( 35 % ) to 21% ( 21 % ) . the effects of the tax cuts and jobs act are discussed further in note 3 to the financial statements. .
Question: in 2016 , what percent of the increase in net income is from the decrease of tax? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
yes | Context:notes to the consolidated financial statements 40 2016 ppg annual report and form 10-k 1 . summary of significant accounting policies principles of consolidation the accompanying consolidated financial statements include the accounts of ppg industries , inc . ( 201cppg 201d or the 201ccompany 201d ) and all subsidiaries , both u.s . and non-u.s. , that it controls . ppg owns more than 50% ( 50 % ) of the voting stock of most of the subsidiaries that it controls . for those consolidated subsidiaries in which the company 2019s ownership is less than 100% ( 100 % ) , the outside shareholders 2019 interests are shown as noncontrolling interests . investments in companies in which ppg owns 20% ( 20 % ) to 50% ( 50 % ) of the voting stock and has the ability to exercise significant influence over operating and financial policies of the investee are accounted for using the equity method of accounting . as a result , ppg 2019s share of the earnings or losses of such equity affiliates is included in the accompanying consolidated statement of income and ppg 2019s share of these companies 2019 shareholders 2019 equity is included in 201cinvestments 201d in the accompanying consolidated balance sheet . transactions between ppg and its subsidiaries are eliminated in consolidation . use of estimates in the preparation of financial statements the preparation of financial statements in conformity with u.s . generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements , as well as the reported amounts of income and expenses during the reporting period . such estimates also include the fair value of assets acquired and liabilities assumed resulting from the allocation of the purchase price related to business combinations consummated . actual outcomes could differ from those estimates . revenue recognition the company recognizes revenue when the earnings process is complete . revenue is recognized by all operating segments when goods are shipped and title to inventory and risk of loss passes to the customer or when services have been rendered . shipping and handling costs amounts billed to customers for shipping and handling are reported in 201cnet sales 201d in the accompanying consolidated statement of income . shipping and handling costs incurred by the company for the delivery of goods to customers are included in 201ccost of sales , exclusive of depreciation and amortization 201d in the accompanying consolidated statement of income . selling , general and administrative costs amounts presented as 201cselling , general and administrative 201d in the accompanying consolidated statement of income are comprised of selling , customer service , distribution and advertising costs , as well as the costs of providing corporate- wide functional support in such areas as finance , law , human resources and planning . distribution costs pertain to the movement and storage of finished goods inventory at company- owned and leased warehouses and other distribution facilities . advertising costs advertising costs are expensed as incurred and totaled $ 322 million , $ 324 million and $ 297 million in 2016 , 2015 and 2014 , respectively . research and development research and development costs , which consist primarily of employee related costs , are charged to expense as incurred. .
|( $ in millions )|2016|2015|2014|
|research and development 2013 total|$ 487|$ 494|$ 499|
|less depreciation on research facilities|21|18|16|
|research and development net|$ 466|$ 476|$ 483|
legal costs legal costs , primarily include costs associated with acquisition and divestiture transactions , general litigation , environmental regulation compliance , patent and trademark protection and other general corporate purposes , are charged to expense as incurred . foreign currency translation the functional currency of most significant non-u.s . operations is their local currency . assets and liabilities of those operations are translated into u.s . dollars using year-end exchange rates ; income and expenses are translated using the average exchange rates for the reporting period . unrealized foreign currency translation adjustments are deferred in accumulated other comprehensive loss , a separate component of shareholders 2019 equity . cash equivalents cash equivalents are highly liquid investments ( valued at cost , which approximates fair value ) acquired with an original maturity of three months or less . short-term investments short-term investments are highly liquid , high credit quality investments ( valued at cost plus accrued interest ) that have stated maturities of greater than three months to one year . the purchases and sales of these investments are classified as investing activities in the consolidated statement of cash flows . marketable equity securities the company 2019s investment in marketable equity securities is recorded at fair market value and reported in 201cother current assets 201d and 201cinvestments 201d in the accompanying consolidated balance sheet with changes in fair market value recorded in income for those securities designated as trading securities and in other comprehensive income , net of tax , for those designated as available for sale securities. .
Question: are r&d expenses greater than advertising costs in 2015? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.08452 | Context:measurement point december 31 booking holdings nasdaq composite index s&p 500 rdg internet composite .
|measurement pointdecember 31|booking holdings inc .|nasdaqcomposite index|s&p 500index|rdg internetcomposite|
|2013|100.00|100.00|100.00|100.00|
|2014|98.09|114.62|113.69|96.39|
|2015|109.68|122.81|115.26|133.20|
|2016|126.12|133.19|129.05|140.23|
|2017|149.50|172.11|157.22|202.15|
|2018|148.18|165.84|150.33|201.16|
.
Question: what was the percent of growth of the nasdaq composite index 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: |
6880800.0 | Context:american tower corporation and subsidiaries notes to consolidated financial statements six-month offering period . the weighted average fair value per share of espp share purchase options during the year ended december 31 , 2014 , 2013 and 2012 was $ 14.83 , $ 13.42 and $ 13.64 , respectively . at december 31 , 2014 , 3.4 million shares remain reserved for future issuance under the plan . key assumptions used to apply the black-scholes pricing model for shares purchased through the espp for the years ended december 31 , are as follows: .
||2014|2013|2012|
|range of risk-free interest rate|0.06% ( 0.06 % ) 2013 0.11% ( 0.11 % )|0.07% ( 0.07 % ) 2013 0.13% ( 0.13 % )|0.05% ( 0.05 % ) 2013 0.12% ( 0.12 % )|
|weighted average risk-free interest rate|0.09% ( 0.09 % )|0.10% ( 0.10 % )|0.08% ( 0.08 % )|
|expected life of shares|6 months|6 months|6 months|
|range of expected volatility of underlying stock price over the option period|11.29% ( 11.29 % ) 2013 16.59% ( 16.59 % )|12.21% ( 12.21 % ) 2013 13.57% ( 13.57 % )|33.16% ( 33.16 % ) 2013 33.86% ( 33.86 % )|
|weighted average expected volatility of underlying stock price|14.14% ( 14.14 % )|12.88% ( 12.88 % )|33.54% ( 33.54 % )|
|expected annual dividend yield|1.50% ( 1.50 % )|1.50% ( 1.50 % )|1.50% ( 1.50 % )|
16 . equity mandatory convertible preferred stock offering 2014on may 12 , 2014 , the company completed a registered public offering of 6000000 shares of its 5.25% ( 5.25 % ) mandatory convertible preferred stock , series a , par value $ 0.01 per share ( the 201cmandatory convertible preferred stock 201d ) . the net proceeds of the offering were $ 582.9 million after deducting commissions and estimated expenses . the company used the net proceeds from this offering to fund acquisitions , including the acquisition from richland , initially funded by indebtedness incurred under the 2013 credit facility . unless converted earlier , each share of the mandatory convertible preferred stock will automatically convert on may 15 , 2017 , into between 0.9174 and 1.1468 shares of common stock , depending on the applicable market value of the common stock and subject to anti-dilution adjustments . subject to certain restrictions , at any time prior to may 15 , 2017 , holders of the mandatory convertible preferred stock may elect to convert all or a portion of their shares into common stock at the minimum conversion rate then in effect . dividends on shares of mandatory convertible preferred stock are payable on a cumulative basis when , as and if declared by the company 2019s board of directors ( or an authorized committee thereof ) at an annual rate of 5.25% ( 5.25 % ) on the liquidation preference of $ 100.00 per share , on february 15 , may 15 , august 15 and november 15 of each year , commencing on august 15 , 2014 to , and including , may 15 , 2017 . the company may pay dividends in cash or , subject to certain limitations , in shares of common stock or any combination of cash and shares of common stock . the terms of the mandatory convertible preferred stock provide that , unless full cumulative dividends have been paid or set aside for payment on all outstanding mandatory convertible preferred stock for all prior dividend periods , no dividends may be declared or paid on common stock . stock repurchase program 2014in march 2011 , the board of directors approved a stock repurchase program , pursuant to which the company is authorized to purchase up to $ 1.5 billion of common stock ( 201c2011 buyback 201d ) . in september 2013 , the company temporarily suspended repurchases in connection with its acquisition of mipt . under the 2011 buyback , the company is authorized to purchase shares from time to time through open market purchases or privately negotiated transactions at prevailing prices in accordance with securities laws and other legal requirements , and subject to market conditions and other factors . to facilitate repurchases , the company .
Question: assuming conversion at the maximum share conversion rate , how many common shares would result from a conversion of the mandatory convertible preferred stock , series a? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.49582 | Context:cost amount could have a material adverse effect on our business . these changes may include , for example , an increase or reduction in the number of persons enrolled or eligible to enroll due to the federal government 2019s decision to increase or decrease u.s . military presence around the world . in the event government reimbursements were to decline from projected amounts , our failure to reduce the health care costs associated with these programs could have a material adverse effect on our business . during 2004 , we completed a contractual transition of our tricare business . on july 1 , 2004 , our regions 2 and 5 contract servicing approximately 1.1 million tricare members became part of the new north region , which was awarded to another contractor . on august 1 , 2004 , our regions 3 and 4 contract became part of our new south region contract . on november 1 , 2004 , the region 6 contract with approximately 1 million members became part of the south region contract . the members added with the region 6 contract essentially offset the members lost four months earlier with the expiration of our regions 2 and 5 contract . for the year ended december 31 , 2005 , tricare premium revenues were approximately $ 2.4 billion , or 16.9% ( 16.9 % ) of our total premiums and aso fees . part of the tricare transition during 2004 included the carve out of the tricare senior pharmacy and tricare for life program which we previously administered on as aso basis . on june 1 , 2004 and august 1 , 2004 , administrative services under these programs were transferred to another contractor . for the year ended december 31 , 2005 , tricare administrative services fees totaled $ 50.1 million , or 0.4% ( 0.4 % ) of our total premiums and aso fees . our products marketed to commercial segment employers and members consumer-choice products over the last several years , we have developed and offered various commercial products designed to provide options and choices to employers that are annually facing substantial premium increases driven by double-digit medical cost inflation . these consumer-choice products , which can be offered on either a fully insured or aso basis , provided coverage to approximately 371100 members at december 31 , 2005 , representing approximately 11.7% ( 11.7 % ) of our total commercial medical membership as detailed below . consumer-choice membership other commercial membership commercial medical membership .
||consumer-choice membership|other commercial membership|commercial medical membership|
|fully insured|184000|1815800|1999800|
|administrative services only|187100|983900|1171000|
|total commercial medical|371100|2799700|3170800|
these products are often offered to employer groups as 201cbundles 201d , where the subscribers are offered various hmo and ppo options , with various employer contribution strategies as determined by the employer . paramount to our consumer-choice product strategy , we have developed a group of innovative consumer products , styled as 201csmart 201d products , that we believe will be a long-term solution for employers . we believe this new generation of products provides more ( 1 ) choices for the individual consumer , ( 2 ) transparency of provider costs , and ( 3 ) benefit designs that engage consumers in the costs and effectiveness of health care choices . innovative tools and technology are available to assist consumers with these decisions , including the trade-offs between higher premiums and point-of-service costs at the time consumers choose their plans , and to suggest ways in which the consumers can maximize their individual benefits at the point they use their plans . we believe that when consumers can make informed choices about the cost and effectiveness of their health care , a sustainable long term solution for employers can be realized . smart products , which accounted for approximately 65.1% ( 65.1 % ) of enrollment in all of our consumer-choice plans as of december 31 , 2005 , only are sold to employers who use humana as their sole health insurance carrier. .
Question: what was the percent of the fully insured of the consumer-choice membership total | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
20.0 | Context:jpmorgan chase & co./2017 annual report 115 impact of wrong-way risk , which is broadly defined as the potential for increased correlation between the firm 2019s exposure to a counterparty ( avg ) and the counterparty 2019s credit quality . many factors may influence the nature and magnitude of these correlations over time . to the extent that these correlations are identified , the firm may adjust the cva associated with that counterparty 2019s avg . the firm risk manages exposure to changes in cva by entering into credit derivative transactions , as well as interest rate , foreign exchange , equity and commodity derivative transactions . the accompanying graph shows exposure profiles to the firm 2019s current derivatives portfolio over the next 10 years as calculated by the peak , dre and avg metrics . the three measures generally show that exposure will decline after the first year , if no new trades are added to the portfolio . exposure profile of derivatives measures december 31 , 2017 ( in billions ) the following table summarizes the ratings profile by derivative counterparty of the firm 2019s derivative receivables , including credit derivatives , net of all collateral , at the dates indicated . the ratings scale is based on the firm 2019s internal ratings , which generally correspond to the ratings as assigned by s&p and moody 2019s . ratings profile of derivative receivables .
|rating equivalent december 31 ( in millions except ratios )|rating equivalent exposure net of all collateral|rating equivalent % ( % ) of exposure netof all collateral|exposure net of all collateral|% ( % ) of exposure netof all collateral|
|aaa/aaa to aa-/aa3|$ 11529|29% ( 29 % )|$ 11449|28% ( 28 % )|
|a+/a1 to a-/a3|6919|17|8505|20|
|bbb+/baa1 to bbb-/baa3|13925|34|13127|32|
|bb+/ba1 to b-/b3|7397|18|7308|18|
|ccc+/caa1 and below|645|2|984|2|
|total|$ 40415|100% ( 100 % )|$ 41373|100% ( 100 % )|
as previously noted , the firm uses collateral agreements to mitigate counterparty credit risk . the percentage of the firm 2019s over-the-counter derivatives transactions subject to collateral agreements 2014 excluding foreign exchange spot trades , which are not typically covered by collateral agreements due to their short maturity and centrally cleared trades that are settled daily 2014 was approximately 90% ( 90 % ) as of december 31 , 2017 , largely unchanged compared with december 31 , 2016 . credit derivatives the firm uses credit derivatives for two primary purposes : first , in its capacity as a market-maker , and second , as an end-user to manage the firm 2019s own credit risk associated with various exposures . for a detailed description of credit derivatives , see credit derivatives in note 5 . credit portfolio management activities included in the firm 2019s end-user activities are credit derivatives used to mitigate the credit risk associated with traditional lending activities ( loans and unfunded commitments ) and derivatives counterparty exposure in the firm 2019s wholesale businesses ( collectively , 201ccredit portfolio management 201d activities ) . information on credit portfolio management activities is provided in the table below . for further information on derivatives used in credit portfolio management activities , see credit derivatives in note 5 . the firm also uses credit derivatives as an end-user to manage other exposures , including credit risk arising from certain securities held in the firm 2019s market-making businesses . these credit derivatives are not included in credit portfolio management activities ; for further information on these credit derivatives as well as credit derivatives used in the firm 2019s capacity as a market-maker in credit derivatives , see credit derivatives in note 5 . 10 years5 years2 years1 year .
Question: for 2016 , what percentage of derivative receivables are rated junk? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
1.13908 | Context:american tower corporation and subsidiaries notes to consolidated financial statements loss on retirement of long-term obligations 2014loss on retirement of long-term obligations primarily includes cash paid to retire debt in excess of its carrying value , cash paid to holders of convertible notes in connection with note conversions and non-cash charges related to the write-off of deferred financing fees . loss on retirement of long-term obligations also includes gains from repurchasing or refinancing certain of the company 2019s debt obligations . earnings per common share 2014basic and diluted 2014basic income from continuing operations per common share for the years ended december 31 , 2012 , 2011 and 2010 represents income from continuing operations attributable to american tower corporation divided by the weighted average number of common shares outstanding during the period . diluted income from continuing operations per common share for the years ended december 31 , 2012 , 2011 and 2010 represents income from continuing operations attributable to american tower corporation divided by the weighted average number of common shares outstanding during the period and any dilutive common share equivalents , including unvested restricted stock , shares issuable upon exercise of stock options and warrants as determined under the treasury stock method and upon conversion of the company 2019s convertible notes , as determined under the if-converted method . retirement plan 2014the company has a 401 ( k ) plan covering substantially all employees who meet certain age and employment requirements . the company 2019s matching contribution for the years ended december 31 , 2012 , 2011 and 2010 is 50% ( 50 % ) up to a maximum 6% ( 6 % ) of a participant 2019s contributions . for the years ended december 31 , 2012 , 2011 and 2010 , the company contributed approximately $ 4.4 million , $ 2.9 million and $ 1.9 million to the plan , respectively . 2 . prepaid and other current assets prepaid and other current assets consist of the following as of december 31 , ( in thousands ) : .
||2012|2011 ( 1 )|
|prepaid income tax|$ 57665|$ 31384|
|prepaid operating ground leases|56916|49585|
|value added tax and other consumption tax receivables|22443|81276|
|prepaid assets|19037|28031|
|other miscellaneous current assets|66790|59997|
|balance as of december 31,|$ 222851|$ 250273|
( 1 ) december 31 , 2011 balances have been revised to reflect purchase accounting measurement period adjustments. .
Question: what was the average company contribution to the retirement plan from 2010 to 2012 | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
1.02345 | 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: what was the ratio of the fair assets acquired to the fair value | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.02848 | Context:obligations of non-consolidated affiliates , mainly cpw . in addition , off-balance sheet arrangements are generally limited to the future payments under non-cancelable operating leases , which totaled $ 559 million as of may 27 , as of may 27 , 2018 , we had invested in five variable interest entities ( vies ) . none of our vies are material to our results of operations , financial condition , or liquidity as of and for the fiscal year ended may 27 , 2018 . our defined benefit plans in the united states are subject to the requirements of the pension protection act ( ppa ) . in the future , the ppa may require us to make additional contributions to our domestic plans . we do not expect to be required to make any contributions in fiscal 2019 . the following table summarizes our future estimated cash payments under existing contractual obligations , including payments due by period: .
|in millions|payments due by fiscal year total|payments due by fiscal year 2019|payments due by fiscal year 2020 -21|payments due by fiscal year 2022 -23|payments due by fiscal year 2024 and thereafter|
|long-term debt ( a )|$ 14354.0|$ 1599.8|$ 3122.6|$ 2315.5|$ 7316.1|
|accrued interest|107.7|107.7|-|-|-|
|operating leases ( b )|559.3|137.4|208.0|122.7|91.2|
|capital leases|0.5|0.3|0.2|-|-|
|purchase obligations ( c )|3417.0|2646.9|728.8|39.8|1.5|
|total contractual obligations|18438.5|4492.1|4059.6|2478.0|7408.8|
|other long-term obligations ( d )|1199.0|-|-|-|-|
|total long-term obligations|$ 19637.5|$ 4492.1|$ 4059.6|$ 2478.0|$ 7408.8|
( a ) amounts represent the expected cash payments of our long-term debt and do not include $ 0.5 million for capital leases or $ 85.7 million for net unamortized debt issuance costs , premiums and discounts , and fair value adjustments . ( b ) operating leases represents the minimum rental commitments under non-cancelable operating leases . ( c ) the majority of the purchase obligations represent commitments for raw material and packaging to be utilized in the normal course of business and for consumer marketing spending commitments that support our brands . for purposes of this table , arrangements are considered purchase obligations if a contract specifies all significant terms , including fixed or minimum quantities to be purchased , a pricing structure , and approximate timing of the transaction . most arrangements are cancelable without a significant penalty and with short notice ( usually 30 days ) . any amounts reflected on the consolidated balance sheets as accounts payable and accrued liabilities are excluded from the table above . ( d ) the fair value of our foreign exchange , equity , commodity , and grain derivative contracts with a payable position to the counterparty was $ 16 million as of may 27 , 2018 , based on fair market values as of that date . future changes in market values will impact the amount of cash ultimately paid or received to settle those instruments in the future . other long-term obligations mainly consist of liabilities for accrued compensation and benefits , including the underfunded status of certain of our defined benefit pension , other postretirement benefit , and postemployment benefit plans , and miscellaneous liabilities . we expect to pay $ 20 million of benefits from our unfunded postemployment benefit plans and $ 18 million of deferred compensation in fiscal 2019 . we are unable to reliably estimate the amount of these payments beyond fiscal 2019 . as of may 27 , 2018 , our total liability for uncertain tax positions and accrued interest and penalties was $ 223.6 million . significant accounting estimates for a complete description of our significant accounting policies , please see note 2 to the consolidated financial statements in item 8 of this report . our significant accounting estimates are those that have a meaningful impact .
Question: what percent of total long-term obligations is incurred by operating leases? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.09368 | Context:adobe systems incorporated notes to consolidated financial statements ( continued ) accounting for uncertainty in income taxes during fiscal 2014 and 2013 , our aggregate changes in our total gross amount of unrecognized tax benefits are summarized as follows ( in thousands ) : .
||2014|2013|
|beginning balance|$ 136098|$ 160468|
|gross increases in unrecognized tax benefits 2013 prior year tax positions|144|20244|
|gross increases in unrecognized tax benefits 2013 current year tax positions|18877|16777|
|settlements with taxing authorities|-995 ( 995 )|-55851 ( 55851 )|
|lapse of statute of limitations|-1630 ( 1630 )|-4066 ( 4066 )|
|foreign exchange gains and losses|-3646 ( 3646 )|-1474 ( 1474 )|
|ending balance|$ 148848|$ 136098|
as of november 28 , 2014 , the combined amount of accrued interest and penalties related to tax positions taken on our tax returns and included in non-current income taxes payable was approximately $ 14.6 million . we file income tax returns in the u.s . on a federal basis and in many u.s . state and foreign jurisdictions . we are subject to the continual examination of our income tax returns by the irs and other domestic and foreign tax authorities . our major tax jurisdictions are ireland , california and the u.s . for ireland , california and the u.s. , the earliest fiscal years open for examination are 2008 , 2008 and 2010 , respectively . we regularly assess the likelihood of outcomes resulting from these examinations to determine the adequacy of our provision for income taxes and have reserved for potential adjustments that may result from the current examinations . we believe such estimates to be reasonable ; however , there can be no assurance that the final determination of any of these examinations will not have an adverse effect on our operating results and financial position . in july 2013 , a u.s . income tax examination covering fiscal 2008 and 2009 was completed . our accrued tax and interest related to these years was $ 48.4 million and was previously reported in long-term income taxes payable . we settled the tax obligation resulting from this examination with cash and income tax assets totaling $ 41.2 million , and the resulting $ 7.2 million income tax benefit was recorded in the third quarter of fiscal 2013 . the timing of the resolution of income tax examinations is highly uncertain as are the amounts and timing of tax payments that are part of any audit settlement process . these events could cause large fluctuations in the balance sheet classification of current and non-current assets and liabilities . we believe that within the next 12 months , it is reasonably possible that either certain audits will conclude or statutes of limitations on certain income tax examination periods will expire , or both . given the uncertainties described above , we can only determine a range of estimated potential decreases in underlying unrecognized tax benefits ranging from $ 0 to approximately $ 5 million . note 10 . restructuring fiscal 2014 restructuring plan in the fourth quarter of fiscal 2014 , in order to better align our global resources for digital media and digital marketing , we initiated a restructuring plan to vacate our research and development facility in china and our sales and marketing facility in russia . this plan consisted of reductions of approximately 350 full-time positions and we recorded restructuring charges of approximately $ 18.8 million related to ongoing termination benefits for the positions eliminated . during fiscal 2015 , we intend to vacate both of these facilities . the amount accrued for the fair value of future contractual obligations under these operating leases was insignificant . other restructuring plans during the past several years , we have implemented other restructuring plans consisting of reductions in workforce and the consolidation of facilities to better align our resources around our business strategies . as of november 28 , 2014 , we considered our other restructuring plans to be substantially complete . we continue to make cash outlays to settle obligations under these plans , however the current impact to our consolidated financial statements is not significant. .
Question: what is the percentage change in the total gross amount of unrecognized tax benefits from 2013 to 2014? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.14733 | Context:included in selling , general and administrative expense was rent expense of $ 83.0 million , $ 59.0 million and $ 41.8 million for the years ended december 31 , 2015 , 2014 and 2013 , respectively , under non-cancelable operating lease agreements . included in these amounts was contingent rent expense of $ 11.0 million , $ 11.0 million and $ 7.8 million for the years ended december 31 , 2015 , 2014 and 2013 , respectively . sports marketing and other commitments within the normal course of business , the company enters into contractual commitments in order to promote the company 2019s brand and products . these commitments include sponsorship agreements with teams and athletes on the collegiate and professional levels , official supplier agreements , athletic event sponsorships and other marketing commitments . the following is a schedule of the company 2019s future minimum payments under its sponsorship and other marketing agreements as of december 31 , 2015 , as well as significant sponsorship and other marketing agreements entered into during the period after december 31 , 2015 through the date of this report : ( in thousands ) .
|2016|$ 126488|
|2017|138607|
|2018|137591|
|2019|98486|
|2020|67997|
|2021 and thereafter|289374|
|total future minimum sponsorship and other payments|$ 858543|
the amounts listed above are the minimum compensation obligations and guaranteed royalty fees required to be paid under the company 2019s sponsorship and other marketing agreements . the amounts listed above do not include additional performance incentives and product supply obligations provided under certain agreements . it is not possible to determine how much the company will spend on product supply obligations on an annual basis as contracts generally do not stipulate specific cash amounts to be spent on products . the amount of product provided to the sponsorships depends on many factors including general playing conditions , the number of sporting events in which they participate and the company 2019s decisions regarding product and marketing initiatives . in addition , the costs to design , develop , source and purchase the products furnished to the endorsers are incurred over a period of time and are not necessarily tracked separately from similar costs incurred for products sold to customers . in connection with various contracts and agreements , the company has agreed to indemnify counterparties against certain third party claims relating to the infringement of intellectual property rights and other items . generally , such indemnification obligations do not apply in situations in which the counterparties are grossly negligent , engage in willful misconduct , or act in bad faith . based on the company 2019s historical experience and the estimated probability of future loss , the company has determined that the fair value of such indemnifications is not material to its consolidated financial position or results of operations . from time to time , the company is involved in litigation and other proceedings , including matters related to commercial and intellectual property disputes , as well as trade , regulatory and other claims related to its business . the company believes that all current proceedings are routine in nature and incidental to the conduct of its business , and that the ultimate resolution of any such proceedings will not have a material adverse effect on its consolidated financial position , results of operations or cash flows . following the company 2019s announcement of the creation of a new class of common stock , referred to as the class c common stock , par value $ 0.0003 1/3 per share , four purported class action lawsuits were brought .
Question: based on the schedule of the company 2019s future minimum payments as of december 312015 what was the percent of the amount due in 2016 to the total | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.21619 | Context:the following details the impairment charge resulting from our review ( in thousands ) : .
||year ended may 31 2009|
|goodwill|$ 136800|
|trademark|10000|
|other long-lived assets|864|
|total|$ 147664|
net income attributable to noncontrolling interests , net of tax noncontrolling interest , net of tax increased $ 28.9 million from $ 8.1 million fiscal 2008 . the increase was primarily related to our acquisition of a 51% ( 51 % ) majority interest in hsbc merchant services , llp on june 30 , net income attributable to global payments and diluted earnings per share during fiscal 2009 we reported net income of $ 37.2 million ( $ 0.46 diluted earnings per share ) . liquidity and capital resources a significant portion of our liquidity comes from operating cash flows , which are generally sufficient to fund operations , planned capital expenditures , debt service and various strategic investments in our business . cash flow from operations is used to make planned capital investments in our business , to pursue acquisitions that meet our corporate objectives , to pay dividends , and to pay off debt and repurchase our shares at the discretion of our board of directors . accumulated cash balances are invested in high-quality and marketable short term instruments . our capital plan objectives are to support the company 2019s operational needs and strategic plan for long term growth while maintaining a low cost of capital . lines of credit are used in certain of our markets to fund settlement and as a source of working capital and , along with other bank financing , to fund acquisitions . we regularly evaluate our liquidity and capital position relative to cash requirements , and we may elect to raise additional funds in the future , either through the issuance of debt , equity or otherwise . at may 31 , 2010 , we had cash and cash equivalents totaling $ 769.9 million . of this amount , we consider $ 268.1 million to be available cash , which generally excludes settlement related and merchant reserve cash balances . settlement related cash balances represent surplus funds that we hold on behalf of our member sponsors when the incoming amount from the card networks precedes the member sponsors 2019 funding obligation to the merchant . merchant reserve cash balances represent funds collected from our merchants that serve as collateral ( 201cmerchant reserves 201d ) to minimize contingent liabilities associated with any losses that may occur under the merchant agreement . at may 31 , 2010 , our cash and cash equivalents included $ 199.4 million related to merchant reserves . while this cash is not restricted in its use , we believe that designating this cash to collateralize merchant reserves strengthens our fiduciary standing with our member sponsors and is in accordance with the guidelines set by the card networks . see cash and cash equivalents and settlement processing assets and obligations under note 1 in the notes to the consolidated financial statements for additional details . net cash provided by operating activities increased $ 82.8 million to $ 465.8 million for fiscal 2010 from the prior year . income from continuing operations increased $ 16.0 million and we had cash provided by changes in working capital of $ 60.2 million . the working capital change was primarily due to the change in net settlement processing assets and obligations of $ 80.3 million and the change in accounts receivable of $ 13.4 million , partially offset by the change .
Question: what is the percentage growth in net cash provided by operating activities from 2009 to 2010? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.79747 | Context:table of contents the following table discloses purchases of shares of our common stock made by us or on our behalf during the fourth quarter of 2015 . period total number of shares purchased average price paid per share total number of shares not purchased as part of publicly announced plans or programs ( a ) total number of shares purchased as part of publicly announced plans or programs approximate dollar value of shares that may yet be purchased under the plans or programs ( b ) .
|period|total numberof sharespurchased|averageprice paidper share|total number ofshares notpurchased as part ofpublicly announcedplans or programs ( a )|total number ofshares purchased aspart of publiclyannounced plans orprograms|approximate dollarvalue of shares thatmay yet be purchasedunder the plans orprograms ( b )|
|october 2015|1658771|$ 62.12|842059|816712|$ 2.0 billion|
|november 2015|2412467|$ 71.08|212878|2199589|$ 1.8 billion|
|december 2015|7008414|$ 70.31|980|7007434|$ 1.3 billion|
|total|11079652|$ 69.25|1055917|10023735|$ 1.3 billion|
( a ) the shares reported in this column represent purchases settled in the fourth quarter of 2015 relating to ( i ) our purchases of shares in open-market transactions to meet our obligations under stock-based compensation plans , and ( ii ) our purchases of shares from our employees and non-employee directors in connection with the exercise of stock options , the vesting of restricted stock , and other stock compensation transactions in accordance with the terms of our stock-based compensation plans . ( b ) on july 13 , 2015 , we announced that our board of directors approved our purchase of $ 2.5 billion of our outstanding common stock ( with no expiration date ) , which was in addition to the remaining amount available under our $ 3 billion program previously authorized . during the third quarter of 2015 , we completed our purchases under the $ 3 billion program . as of december 31 , 2015 , we had $ 1.3 billion remaining available for purchase under the $ 2.5 billion program. .
Question: for the fourth quarter ended december 312015 what was the percent of the total number of shares not purchased as part of publicly announced plans or programs in october | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
1.77633 | Context:financial assurance we must provide financial assurance to governmental agencies and a variety of other entities under applicable environmental regulations relating to our landfill operations for capping , closure and post-closure costs , and related to our performance under certain collection , landfill and transfer station contracts . we satisfy these financial assurance requirements by providing surety bonds , letters of credit , or insurance policies ( financial assurance instruments ) , or trust deposits , which are included in restricted cash and marketable securities and other assets in our consolidated balance sheets . the amount of the financial assurance requirements for capping , closure and post-closure costs is determined by applicable state environmental regulations . the financial assurance requirements for capping , closure and post-closure costs may be associated with a portion of the landfill or the entire landfill . generally , states require a third-party engineering specialist to determine the estimated capping , closure and post-closure costs that are used to determine the required amount of financial assurance for a landfill . the amount of financial assurance required can , and generally will , differ from the obligation determined and recorded under u.s . gaap . the amount of the financial assurance requirements related to contract performance varies by contract . additionally , we must provide financial assurance for our insurance program and collateral for certain performance obligations . we do not expect a material increase in financial assurance requirements during 2016 , although the mix of financial assurance instruments may change . these financial assurance instruments are issued in the normal course of business and are not considered indebtedness . because we currently have no liability for the financial assurance instruments , they are not reflected in our consolidated balance sheets ; however , we record capping , closure and post-closure liabilities and insurance liabilities as they are incurred . off-balance sheet arrangements we have no off-balance sheet debt or similar obligations , other than operating leases and financial assurances , which are not classified as debt . we have no transactions or obligations with related parties that are not disclosed , consolidated into or reflected in our reported financial position or results of operations . we have not guaranteed any third-party debt . free cash flow we define free cash flow , which is not a measure determined in accordance with u.s . gaap , as cash provided by operating activities less purchases of property and equipment , plus proceeds from sales of property and equipment , as presented in our consolidated statements of cash flows . the following table calculates our free cash flow for the years ended december 31 , 2015 , 2014 and 2013 ( in millions of dollars ) : .
||2015|2014|2013|
|cash provided by operating activities|$ 1679.7|$ 1529.8|$ 1548.2|
|purchases of property and equipment|-945.6 ( 945.6 )|-862.5 ( 862.5 )|-880.8 ( 880.8 )|
|proceeds from sales of property and equipment|21.2|35.7|23.9|
|free cash flow|$ 755.3|$ 703.0|$ 691.3|
for a discussion of the changes in the components of free cash flow , see our discussion regarding cash flows provided by operating activities and cash flows used in investing activities contained elsewhere in this management 2019s discussion and analysis of financial condition and results of operations. .
Question: in 2015 what was the ratio of the cash provided by operating activities to the purchases of property 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: |
0.55319 | Context:the aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2011 , 2010 , and 2009 20 . impairment expense asset impairment asset impairment expense for the year ended december 31 , 2011 consisted of : ( in millions ) .
||2011 ( in millions )|
|wind turbines & deposits|$ 116|
|tisza ii|52|
|kelanitissa|42|
|other|15|
|total|$ 225|
wind turbines & deposits 2014during the third quarter of 2011 , the company evaluated the future use of certain wind turbines held in storage pending their installation . due to reduced wind turbine market pricing and advances in turbine technology , the company determined it was more likely than not that the turbines would be sold significantly before the end of their previously estimated useful lives . in addition , the company has concluded that more likely than not non-refundable deposits it had made in prior years to a turbine manufacturer for the purchase of wind turbines are not recoverable . the company determined it was more likely than not that it would not proceed with the purchase of turbines due to the availability of more advanced and lower cost turbines in the market . these developments were more likely than not as of september 30 , 2011 and as a result were considered impairment indicators and the company determined that an impairment had occurred as of september 30 , 2011 as the aggregate carrying amount of $ 161 million of these assets was not recoverable and was reduced to their estimated fair value of $ 45 million determined under the market approach . this resulted in asset impairment expense of $ 116 million . wind generation is reported in the corporate and other segment . in january 2012 , the company forfeited the deposits for which a full impairment charge was recognized in the third quarter of 2011 , and there is no obligation for further payments under the related turbine supply agreement . additionally , the company sold some of the turbines held in storage during the fourth quarter of 2011 and is continuing to evaluate the future use of the turbines held in storage . the company determined it is more likely than not that they will be sold , however they are not being actively marketed for sale at this time as the company is reconsidering the potential use of the turbines in light of recent development activity at one of its advance stage development projects . it is reasonably possible that the turbines could incur further loss in value due to changing market conditions and advances in technology . tisza ii 2014during the fourth quarter of 2011 , tisza ii , a 900 mw gas and oil-fired generation plant in hungary entered into annual negotiations with its offtaker . as a result of these negotiations , as well as the further deterioration of the economic environment in hungary , the company determined that an indicator of impairment existed at december 31 , 2011 . thus , the company performed an asset impairment test and determined that based on the undiscounted cash flow analysis , the carrying amount of tisza ii asset group was not recoverable . the fair value of the asset group was then determined using a discounted cash flow analysis . the carrying value of the tisza ii asset group of $ 94 million exceeded the fair value of $ 42 million resulting in the recognition of asset impairment expense of $ 52 million during the three months ended december 31 , 2011 . tisza ii is reported in the europe generation reportable segment . kelanitissa 2014in 2011 , the company recognized asset impairment expense of $ 42 million for the long-lived assets of kelanitissa , our diesel-fired generation plant in sri lanka . we have continued to evaluate the recoverability of our long-lived assets at kelanitissa as a result of both the existing government regulation which .
Question: during 2011 , what percent of the tisza ii asset group was written off? | 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:credit commitments and lines of credit the table below summarizes citigroup 2019s credit commitments as of december 31 , 2010 and december 31 , 2009: .
|in millions of dollars|december 31 2010 u.s .|december 31 2010 outside of u.s .|december 31 2010 total|december 31 2009|
|commercial and similar letters of credit|$ 1544|$ 7430|$ 8974|$ 7211|
|one- to four-family residential mortgages|2582|398|2980|1070|
|revolving open-end loans secured by one- to four-family residential properties|17986|2948|20934|23916|
|commercial real estate construction and land development|1813|594|2407|1704|
|credit card lines|573945|124728|698673|785495|
|commercial and other consumer loan commitments|124142|86262|210404|257342|
|total|$ 722012|$ 222360|$ 944372|$ 1076738|
the majority of unused commitments are contingent upon customers maintaining specific credit standards . commercial commitments generally have floating interest rates and fixed expiration dates and may require payment of fees . such fees ( net of certain direct costs ) are deferred and , upon exercise of the commitment , amortized over the life of the loan or , if exercise is deemed remote , amortized over the commitment period . commercial and similar letters of credit a commercial letter of credit is an instrument by which citigroup substitutes its credit for that of a customer to enable the customer to finance the purchase of goods or to incur other commitments . citigroup issues a letter on behalf of its client to a supplier and agrees to pay the supplier upon presentation of documentary evidence that the supplier has performed in accordance with the terms of the letter of credit . when a letter of credit is drawn , the customer is then required to reimburse citigroup . one- to four-family residential mortgages a one- to four-family residential mortgage commitment is a written confirmation from citigroup to a seller of a property that the bank will advance the specified sums enabling the buyer to complete the purchase . revolving open-end loans secured by one- to four-family residential properties revolving open-end loans secured by one- to four-family residential properties are essentially home equity lines of credit . a home equity line of credit is a loan secured by a primary residence or second home to the extent of the excess of fair market value over the debt outstanding for the first mortgage . commercial real estate , construction and land development commercial real estate , construction and land development include unused portions of commitments to extend credit for the purpose of financing commercial and multifamily residential properties as well as land development projects . both secured-by-real-estate and unsecured commitments are included in this line , as well as undistributed loan proceeds , where there is an obligation to advance for construction progress payments . however , this line only includes those extensions of credit that , once funded , will be classified as loans on the consolidated balance sheet . credit card lines citigroup provides credit to customers by issuing credit cards . the credit card lines are unconditionally cancelable by the issuer . commercial and other consumer loan commitments commercial and other consumer loan commitments include overdraft and liquidity facilities , as well as commercial commitments to make or purchase loans , to purchase third-party receivables , to provide note issuance or revolving underwriting facilities and to invest in the form of equity . amounts include $ 79 billion and $ 126 billion with an original maturity of less than one year at december 31 , 2010 and december 31 , 2009 , respectively . in addition , included in this line item are highly leveraged financing commitments , which are agreements that provide funding to a borrower with higher levels of debt ( measured by the ratio of debt capital to equity capital of the borrower ) than is generally considered normal for other companies . this type of financing is commonly employed in corporate acquisitions , management buy-outs and similar transactions. .
Question: what was the percentage of the change in the credit commitments and lines of credit for citigroup 2019s 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: |
43.0 | Context:celanese corporation and subsidiaries notes to consolidated financial statements ( continued ) 2022 amend certain material agreements governing bcp crystal 2019s indebtedness ; 2022 change the business conducted by celanese holdings and its subsidiaries ; and 2022 enter into hedging agreements that restrict dividends from subsidiaries . in addition , the senior credit facilities require bcp crystal to maintain the following financial covenants : a maximum total leverage ratio , a maximum bank debt leverage ratio , a minimum interest coverage ratio and maximum capital expenditures limitation . the maximum consolidated net bank debt to adjusted ebitda ratio , as defined , previously required under the senior credit facilities , was eliminated when the company amended the facilities in january 2005 . as of december 31 , 2005 , the company was in compliance with all of the financial covenants related to its debt agreements . the maturation of the company 2019s debt , including short term borrowings , is as follows : ( in $ millions ) .
||total ( in$ millions )|
|2006|155|
|2007|29|
|2008|22|
|2009|40|
|2010|28|
|thereafter ( 1 )|3163|
|total|3437|
( 1 ) includes $ 2 million purchase accounting adjustment to assumed debt . 17 . benefit obligations pension obligations . pension obligations are established for benefits payable in the form of retirement , disability and surviving dependent pensions . the benefits offered vary according to the legal , fiscal and economic conditions of each country . the commitments result from participation in defined contribution and defined benefit plans , primarily in the u.s . benefits are dependent on years of service and the employee 2019s compensation . supplemental retirement benefits provided to certain employees are non-qualified for u.s . tax purposes . separate trusts have been established for some non-qualified plans . defined benefit pension plans exist at certain locations in north america and europe . as of december 31 , 2005 , the company 2019s u.s . qualified pension plan represented greater than 85% ( 85 % ) and 75% ( 75 % ) of celanese 2019s pension plan assets and liabilities , respectively . independent trusts or insurance companies administer the majority of these plans . actuarial valuations for these plans are prepared annually . the company sponsors various defined contribution plans in europe and north america covering certain employees . employees may contribute to these plans and the company will match these contributions in varying amounts . contributions to the defined contribution plans are based on specified percentages of employee contributions and they aggregated $ 12 million for the year ended decem- ber 31 , 2005 , $ 8 million for the nine months ended december 31 , 2004 , $ 3 million for the three months ended march 31 , 2004 and $ 11 million for the year ended december 31 , 2003 . in connection with the acquisition of cag , the purchaser agreed to pre-fund $ 463 million of certain pension obligations . during the nine months ended december 31 , 2004 , $ 409 million was pre-funded to the company 2019s pension plans . the company contributed an additional $ 54 million to the non-qualified pension plan 2019s rabbi trusts in february 2005 . in connection with the company 2019s acquisition of vinamul and acetex , the company assumed certain assets and obligations related to the acquired pension plans . the company recorded liabilities of $ 128 million for these pension plans . total pension assets acquired amounted to $ 85 million. .
Question: what is the net liability for pension plan resulting from acquisition of vinamul and acetex? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
1773.8 | Context:item 1a . risk factors in addition to the other information provided in this report , the following risk factors should be considered when evaluating an investment in our securities . if the circumstances contemplated by the individual risk factors materialize , our business , financial condition and results of operations could be materially and adversely affected and the trading price of our common shares could decline significantly . risks relating to our business fluctuations in the financial markets could result in investment losses . prolonged and severe disruptions in the overall public debt and equity markets , such as occurred during 2008 , could result in significant realized and unrealized losses in our investment portfolio . although financial markets have significantly improved since 2008 , they could deteriorate in the future . there could also be disruption in individual market sectors , such as occurred in the energy sector in recent years . such declines in the financial markets could result in significant realized and unrealized losses on investments and could have a material adverse impact on our results of operations , equity , business and insurer financial strength and debt ratings . our results could be adversely affected by catastrophic events . we are exposed to unpredictable catastrophic events , including weather-related and other natural catastrophes , as well as acts of terrorism . any material reduction in our operating results caused by the occurrence of one or more catastrophes could inhibit our ability to pay dividends or to meet our interest and principal payment obligations . by way of illustration , during the past five calendar years , pre-tax catastrophe losses , net of reinsurance , were as follows: .
|calendar year:|pre-tax catastrophe losses|
|( dollars in millions )||
|2017|$ 1472.6|
|2016|301.2|
|2015|53.8|
|2014|56.3|
|2013|194.0|
our losses from future catastrophic events could exceed our projections . we use projections of possible losses from future catastrophic events of varying types and magnitudes as a strategic underwriting tool . we use these loss projections to estimate our potential catastrophe losses in certain geographic areas and decide on the placement of retrocessional coverage or other actions to limit the extent of potential losses in a given geographic area . these loss projections are approximations , reliant on a mix of quantitative and qualitative processes , and actual losses may exceed the projections by a material amount , resulting in a material adverse effect on our financial condition and results of operations. .
Question: what are the total pre-tax catastrophe losses for the company in the last two years?\\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: |
233.0 | Context:cash and cash equivalents cash equivalents include highly-liquid investments with a maturity of three months or less when purchased . accounts receivable and allowance for doubtful accounts accounts receivable are carried at the invoiced amounts , less an allowance for doubtful accounts , and generally do not bear interest . the company estimates the balance of allowance for doubtful accounts by analyzing accounts receivable balances by age and applying historical write-off and collection trend rates . the company 2019s estimates include separately providing for customer receivables based on specific circumstances and credit conditions , and when it is deemed probable that the balance is uncollectible . account balances are charged off against the allowance when it is determined the receivable will not be recovered . the company 2019s allowance for doubtful accounts balance also includes an allowance for the expected return of products shipped and credits related to pricing or quantities shipped of $ 14 million , $ 15 million and $ 14 million as of december 31 , 2016 , 2015 , and 2014 , respectively . returns and credit activity is recorded directly to sales as a reduction . the following table summarizes the activity in the allowance for doubtful accounts: .
|( millions )|2016|2015|2014|
|beginning balance|$ 75|$ 77|$ 81|
|bad debt expense|20|26|23|
|write-offs|-25 ( 25 )|-22 ( 22 )|-20 ( 20 )|
|other ( a )|-2 ( 2 )|-6 ( 6 )|-7 ( 7 )|
|ending balance|$ 68|$ 75|$ 77|
( a ) other amounts are primarily the effects of changes in currency translations and the impact of allowance for returns and credits . inventory valuations inventories are valued at the lower of cost or market . certain u.s . inventory costs are determined on a last-in , first-out ( 201clifo 201d ) basis . lifo inventories represented 40% ( 40 % ) and 39% ( 39 % ) of consolidated inventories as of december 31 , 2016 and 2015 , respectively . lifo inventories include certain legacy nalco u.s . inventory acquired at fair value as part of the nalco merger . all other inventory costs are determined using either the average cost or first-in , first-out ( 201cfifo 201d ) methods . inventory values at fifo , as shown in note 5 , approximate replacement cost . during 2015 , the company improved and standardized estimates related to its inventory reserves and product costing , resulting in a net pre-tax charge of approximately $ 6 million . separately , the actions resulted in a charge of $ 20.6 million related to inventory reserve calculations , partially offset by a gain of $ 14.5 million related to the capitalization of certain cost components into inventory . during 2016 , the company took additional actions to improve and standardize estimates related to the capitalization of certain cost components into inventory , which resulted in a gain of $ 6.2 million . these items are reflected within special ( gains ) and charges , as discussed in note 3 . property , plant and equipment property , plant and equipment assets are stated at cost . merchandising and customer equipment consists principally of various dispensing systems for the company 2019s cleaning and sanitizing products , dishwashing machines and process control and monitoring equipment . certain dispensing systems capitalized by the company are accounted for on a mass asset basis , whereby equipment is capitalized and depreciated as a group and written off when fully depreciated . the company capitalizes both internal and external costs of development or purchase of computer software for internal use . costs incurred for data conversion , training and maintenance associated with capitalized software are expensed as incurred . expenditures for major renewals and improvements , which significantly extend the useful lives of existing plant and equipment , are capitalized and depreciated . expenditures for repairs and maintenance are charged to expense as incurred . upon retirement or disposition of plant and equipment , the cost and related accumulated depreciation are removed from the accounts and any resulting gain or loss is recognized in income . depreciation is charged to operations using the straight-line method over the assets 2019 estimated useful lives ranging from 5 to 40 years for buildings and leasehold improvements , 3 to 20 years for machinery and equipment , 3 to 15 years for merchandising and customer equipment and 3 to 7 years for capitalized software . the straight-line method of depreciation reflects an appropriate allocation of the cost of the assets to earnings in proportion to the amount of economic benefits obtained by the company in each reporting period . depreciation expense was $ 561 million , $ 560 million and $ 558 million for 2016 , 2015 and 2014 , respectively. .
Question: in millions for 2016 , 2015 , and 2014 , what was the total beginning balance in allowance for doubtful accounts? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.07713 | Context:backlog applied manufactures systems to meet demand represented by order backlog and customer commitments . backlog consists of : ( 1 ) orders for which written authorizations have been accepted and assigned shipment dates are within the next 12 months , or shipment has occurred but revenue has not been recognized ; and ( 2 ) contractual service revenue and maintenance fees to be earned within the next 12 months . backlog by reportable segment as of october 25 , 2015 and october 26 , 2014 was as follows : 2015 2014 ( in millions , except percentages ) .
||2015|2014||( in millions except percentages )|
|silicon systems|$ 1720|55% ( 55 % )|$ 1400|48% ( 48 % )|
|applied global services|812|26% ( 26 % )|775|27% ( 27 % )|
|display|525|16% ( 16 % )|593|20% ( 20 % )|
|energy and environmental solutions|85|3% ( 3 % )|149|5% ( 5 % )|
|total|$ 3142|100% ( 100 % )|$ 2917|100% ( 100 % )|
applied 2019s backlog on any particular date is not necessarily indicative of actual sales for any future periods , due to the potential for customer changes in delivery schedules or order cancellations . customers may delay delivery of products or cancel orders prior to shipment , subject to possible cancellation penalties . delays in delivery schedules or a reduction of backlog during any particular period could have a material adverse effect on applied 2019s business and results of operations . manufacturing , raw materials and supplies applied 2019s manufacturing activities consist primarily of assembly , test and integration of various proprietary and commercial parts , components and subassemblies that are used to manufacture systems . applied has implemented a distributed manufacturing model under which manufacturing and supply chain activities are conducted in various countries , including germany , israel , italy , singapore , taiwan , the united states and other countries in asia . applied uses numerous vendors , including contract manufacturers , to supply parts and assembly services for the manufacture and support of its products , including some systems being completed at customer sites . although applied makes reasonable efforts to assure that parts are available from multiple qualified suppliers , this is not always possible . accordingly , some key parts may be obtained from only a single supplier or a limited group of suppliers . applied seeks to reduce costs and to lower the risks of manufacturing and service interruptions by selecting and qualifying alternate suppliers for key parts ; monitoring the financial condition of key suppliers ; maintaining appropriate inventories of key parts ; qualifying new parts on a timely basis ; and ensuring quality and performance of parts. .
Question: how much percentage has backlog increased from 2014 to 2015 | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
1.4987 | Context:the segment had operating earnings of $ 709 million in 2007 , compared to operating earnings of $ 787 million in 2006 . the decrease in operating earnings was primarily due to a decrease in gross margin , driven by : ( i ) lower net sales of iden infrastructure equipment , and ( ii ) continued competitive pricing pressure in the market for gsm infrastructure equipment , partially offset by : ( i ) increased net sales of digital entertainment devices , and ( ii ) the reversal of reorganization of business accruals recorded in 2006 relating to employee severance which were no longer needed . sg&a expenses increased primarily due to the expenses from recently acquired businesses , partially offset by savings from cost-reduction initiatives . r&d expenditures decreased primarily due to savings from cost- reduction initiatives , partially offset by expenditures by recently acquired businesses and continued investment in digital entertainment devices and wimax . as a percentage of net sales in 2007 as compared to 2006 , gross margin , sg&a expenses , r&d expenditures and operating margin all decreased . in 2007 , sales to the segment 2019s top five customers represented approximately 43% ( 43 % ) of the segment 2019s net sales . the segment 2019s backlog was $ 2.6 billion at december 31 , 2007 , compared to $ 3.2 billion at december 31 , 2006 . in the home business , demand for the segment 2019s products depends primarily on the level of capital spending by broadband operators for constructing , rebuilding or upgrading their communications systems , and for offering advanced services . during the second quarter of 2007 , the segment began shipping digital set-tops that support the federal communications commission ( 201cfcc 201d ) 2014 mandated separable security requirement . fcc regulations mandating the separation of security functionality from set-tops went into effect on july 1 , 2007 . as a result of these regulations , many cable service providers accelerated their purchases of set-tops in the first half of 2007 . additionally , in 2007 , our digital video customers significantly increased their purchases of the segment 2019s products and services , primarily due to increased demand for digital entertainment devices , particularly hd/dvr devices . during 2007 , the segment completed the acquisitions of : ( i ) netopia , inc. , a broadband equipment provider for dsl customers , which allows for phone , tv and fast internet connections , ( ii ) tut systems , inc. , a leading developer of edge routing and video encoders , ( iii ) modulus video , inc. , a provider of mpeg-4 advanced coding compression systems designed for delivery of high-value video content in ip set-top devices for the digital video , broadcast and satellite marketplaces , ( iv ) terayon communication systems , inc. , a provider of real-time digital video networking applications to cable , satellite and telecommunication service providers worldwide , and ( v ) leapstone systems , inc. , a provider of intelligent multimedia service delivery and content management applications to networks operators . these acquisitions enhance our ability to provide complete end-to-end systems for the delivery of advanced video , voice and data services . in december 2007 , motorola completed the sale of ecc to emerson for $ 346 million in cash . enterprise mobility solutions segment the enterprise mobility solutions segment designs , manufactures , sells , installs and services analog and digital two-way radio , voice and data communications products and systems for private networks , wireless broadband systems and end-to-end enterprise mobility solutions to a wide range of enterprise markets , including government and public safety agencies ( which , together with all sales to distributors of two-way communication products , are referred to as the 201cgovernment and public safety market 201d ) , as well as retail , energy and utilities , transportation , manufacturing , healthcare and other commercial customers ( which , collectively , are referred to as the 201ccommercial enterprise market 201d ) . in 2008 , the segment 2019s net sales represented 27% ( 27 % ) of the company 2019s consolidated net sales , compared to 21% ( 21 % ) in 2007 and 13% ( 13 % ) in 2006 . ( dollars in millions ) 2008 2007 2006 2008 20142007 2007 20142006 years ended december 31 percent change .
|( dollars in millions )|years ended december 31 2008|years ended december 31 2007|years ended december 31 2006|years ended december 31 2008 20142007|2007 20142006|
|segment net sales|$ 8093|$ 7729|$ 5400|5% ( 5 % )|43% ( 43 % )|
|operating earnings|1496|1213|958|23% ( 23 % )|27% ( 27 % )|
segment results 20142008 compared to 2007 in 2008 , the segment 2019s net sales increased 5% ( 5 % ) to $ 8.1 billion , compared to $ 7.7 billion in 2007 . the 5% ( 5 % ) increase in net sales reflects an 8% ( 8 % ) increase in net sales to the government and public safety market , partially offset by a 2% ( 2 % ) decrease in net sales to the commercial enterprise market . the increase in net sales to the government and public safety market was primarily driven by : ( i ) increased net sales outside of north america , and ( ii ) the net sales generated by vertex standard co. , ltd. , a business the company acquired a controlling interest of in january 2008 , partially offset by lower net sales in north america . on a geographic basis , the segment 2019s net sales were higher in emea , asia and latin america and lower in north america . 65management 2019s discussion and analysis of financial condition and results of operations %%transmsg*** transmitting job : c49054 pcn : 068000000 ***%%pcmsg|65 |00024|yes|no|02/24/2009 12:31|0|0|page is valid , no graphics -- color : n| .
Question: what was the ratio of the segment net sales in 2008 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: |
18.26923 | Context:notes to consolidated financial statements 2013 ( continued ) ( amounts in millions , except per share amounts ) guarantees we have guaranteed certain obligations of our subsidiaries relating principally to operating leases and credit facilities of certain subsidiaries . the amount of parent company guarantees on lease obligations was $ 410.3 and $ 385.1 as of december 31 , 2012 and 2011 , respectively , and the amount of parent company guarantees primarily relating to credit facilities was $ 283.4 and $ 327.5 as of december 31 , 2012 and 2011 , respectively . in the event of non-payment by the applicable subsidiary of the obligations covered by a guarantee , we would be obligated to pay the amounts covered by that guarantee . as of december 31 , 2012 , there were no material assets pledged as security for such parent company guarantees . contingent acquisition obligations the following table details the estimated future contingent acquisition obligations payable in cash as of december 31 .
||2013|2014|2015|2016|2017|thereafter|total|
|deferred acquisition payments|$ 26.0|$ 12.4|$ 9.7|$ 46.4|$ 18.9|$ 2.0|$ 115.4|
|redeemable noncontrolling interests and call options with affiliates1|20.5|43.8|32.9|5.7|2.2|10.6|115.7|
|total contingent acquisition payments|46.5|56.2|42.6|52.1|21.1|12.6|231.1|
|less : cash compensation expense included above|-0.7 ( 0.7 )|-0.6 ( 0.6 )|-0.8 ( 0.8 )|-0.2 ( 0.2 )|0.0|0.0|-2.3 ( 2.3 )|
|total|$ 45.8|$ 55.6|$ 41.8|$ 51.9|$ 21.1|$ 12.6|$ 228.8|
1 we have entered into certain acquisitions that contain both redeemable noncontrolling interests and call options with similar terms and conditions . we have certain redeemable noncontrolling interests that are exercisable at the discretion of the noncontrolling equity owners as of december 31 , 2012 . these estimated payments of $ 16.4 are included within the total payments expected to be made in 2013 , and will continue to be carried forward into 2014 or beyond until exercised or expired . redeemable noncontrolling interests are included in the table at current exercise price payable in cash , not at applicable redemption value in accordance with the authoritative guidance for classification and measurement of redeemable securities . the estimated amounts listed would be paid in the event of exercise at the earliest exercise date . see note 6 for further information relating to the payment structure of our acquisitions . all payments are contingent upon achieving projected operating performance targets and satisfying other conditions specified in the related agreements and are subject to revisions as the earn-out periods progress . legal matters we are involved in various legal proceedings , and subject to investigations , inspections , audits , inquiries and similar actions by governmental authorities , arising in the normal course of business . we evaluate all cases each reporting period and record liabilities for losses from legal proceedings when we determine that it is probable that the outcome in a legal proceeding will be unfavorable and the amount , or potential range , of loss can be reasonably estimated . in certain cases , we cannot reasonably estimate the potential loss because , for example , the litigation is in its early stages . while any outcome related to litigation or such governmental proceedings in which we are involved cannot be predicted with certainty , management believes that the outcome of these matters , individually and in the aggregate , will not have a material adverse effect on our financial condition , results of operations or cash flows . note 15 : recent accounting standards impairment of indefinite-lived intangible assets in july 2012 , the financial accounting standards board ( 201cfasb 201d ) issued amended guidance to simplify impairment testing of indefinite-lived intangible assets other than goodwill . the amended guidance permits an entity to first assess qualitative factors to determine whether it is 201cmore likely than not 201d that the indefinite-lived intangible asset is impaired . if , after assessing qualitative factors , an entity concludes that it is not 201cmore likely than not 201d that the indefinite-lived intangible .
Question: what percentage of total estimated future contingent acquisition obligations payable in cash occurred 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: |
7.8 | Context:item 7a . quantitative and qualitative disclosures about market risk ( amounts in millions ) in the normal course of business , we are exposed to market risks related to interest rates , foreign currency rates and certain balance sheet items . from time to time , we use derivative instruments , pursuant to established guidelines and policies , to manage some portion of these risks . derivative instruments utilized in our hedging activities are viewed as risk management tools and are not used for trading or speculative purposes . interest rates our exposure to market risk for changes in interest rates relates primarily to the fair market value and cash flows of our debt obligations . the majority of our debt ( approximately 93% ( 93 % ) and 89% ( 89 % ) as of december 31 , 2016 and 2015 , respectively ) bears interest at fixed rates . we do have debt with variable interest rates , but a 10% ( 10 % ) increase or decrease in interest rates would not be material to our interest expense or cash flows . the fair market value of our debt is sensitive to changes in interest rates , and the impact of a 10% ( 10 % ) change in interest rates is summarized below . increase/ ( decrease ) in fair market value as of december 31 , 10% ( 10 % ) increase in interest rates 10% ( 10 % ) decrease in interest rates .
|as of december 31,|increase/ ( decrease ) in fair market value 10% ( 10 % ) increasein interest rates|increase/ ( decrease ) in fair market value 10% ( 10 % ) decreasein interest rates|
|2016|$ -26.3 ( 26.3 )|$ 26.9|
|2015|-33.7 ( 33.7 )|34.7|
we have used interest rate swaps for risk management purposes to manage our exposure to changes in interest rates . we do not have any interest rate swaps outstanding as of december 31 , 2016 . we had $ 1100.6 of cash , cash equivalents and marketable securities as of december 31 , 2016 that we generally invest in conservative , short-term bank deposits or securities . the interest income generated from these investments is subject to both domestic and foreign interest rate movements . during 2016 and 2015 , we had interest income of $ 20.1 and $ 22.8 , respectively . based on our 2016 results , a 100 basis-point increase or decrease in interest rates would affect our interest income by approximately $ 11.0 , assuming that all cash , cash equivalents and marketable securities are impacted in the same manner and balances remain constant from year-end 2016 levels . foreign currency rates we are subject to translation and transaction risks related to changes in foreign currency exchange rates . since we report revenues and expenses in u.s . dollars , changes in exchange rates may either positively or negatively affect our consolidated revenues and expenses ( as expressed in u.s . dollars ) from foreign operations . the foreign currencies that most impacted our results during 2016 included the british pound sterling and , to a lesser extent , the argentine peso , brazilian real and japanese yen . based on 2016 exchange rates and operating results , if the u.s . dollar were to strengthen or weaken by 10% ( 10 % ) , we currently estimate operating income would decrease or increase approximately 4% ( 4 % ) , assuming that all currencies are impacted in the same manner and our international revenue and expenses remain constant at 2016 levels . the functional currency of our foreign operations is generally their respective local currency . assets and liabilities are translated at the exchange rates in effect at the balance sheet date , and revenues and expenses are translated at the average exchange rates during the period presented . the resulting translation adjustments are recorded as a component of accumulated other comprehensive loss , net of tax , in the stockholders 2019 equity section of our consolidated balance sheets . our foreign subsidiaries generally collect revenues and pay expenses in their functional currency , mitigating transaction risk . however , certain subsidiaries may enter into transactions in currencies other than their functional currency . assets and liabilities denominated in currencies other than the functional currency are susceptible to movements in foreign currency until final settlement . currency transaction gains or losses primarily arising from transactions in currencies other than the functional currency are included in office and general expenses . we regularly review our foreign exchange exposures that may have a material impact on our business and from time to time use foreign currency forward exchange contracts or other derivative financial instruments to hedge the effects of potential adverse fluctuations in foreign currency exchange rates arising from these exposures . we do not enter into foreign exchange contracts or other derivatives for speculative purposes. .
Question: what is the difference in the debt fair market value between 2015 and 2016 if the market interest rate decreases by 10%? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
809.74632 | Context:management 2019s discussion and analysis of financial condition and results of operations 82 fifth third bancorp to 100 million shares of its outstanding common stock in the open market or in privately negotiated transactions , and to utilize any derivative or similar instrument to affect share repurchase transactions . this share repurchase authorization replaced the board 2019s previous authorization . on may 21 , 2013 , the bancorp entered into an accelerated share repurchase transaction with a counterparty pursuant to which the bancorp purchased 25035519 shares , or approximately $ 539 million , of its outstanding common stock on may 24 , 2013 . the bancorp repurchased the shares of its common stock as part of its 100 million share repurchase program previously announced on march 19 , 2013 . at settlement of the forward contract on october 1 , 2013 , the bancorp received an additional 4270250 shares which were recorded as an adjustment to the basis in the treasury shares purchased on the acquisition date . on november 13 , 2013 , the bancorp entered into an accelerated share repurchase transaction with a counterparty pursuant to which the bancorp purchased 8538423 shares , or approximately $ 200 million , of its outstanding common stock on november 18 , 2013 . the bancorp repurchased the shares of its common stock as part of its board approved 100 million share repurchase program previously announced on march 19 , 2013 . the bancorp expects the settlement of the transaction to occur on or before february 28 , 2014 . on december 10 , 2013 , the bancorp entered into an accelerated share repurchase transaction with a counterparty pursuant to which the bancorp purchased 19084195 shares , or approximately $ 456 million , of its outstanding common stock on december 13 , 2013 . the bancorp repurchased the shares of its common stock as part of its board approved 100 million share repurchase program previously announced on march 19 , 2013 . the bancorp expects the settlement of the transaction to occur on or before march 26 , 2014 . on january 28 , 2014 , the bancorp entered into an accelerated share repurchase transaction with a counterparty pursuant to which the bancorp purchased 3950705 shares , or approximately $ 99 million , of its outstanding common stock on january 31 , 2014 . the bancorp repurchased the shares of its common stock as part of its board approved 100 million share repurchase program previously announced on march 19 , 2013 . the bancorp expects the settlement of the transaction to occur on or before march 26 , 2014 . table 61 : share repurchases .
|for the years ended december 31|2013|2012|2011|
|shares authorized for repurchase at january 1|63046682|19201518|19201518|
|additional authorizations ( a )|45541057|86269178|-|
|share repurchases ( b )|-65516126 ( 65516126 )|-42424014 ( 42424014 )|-|
|shares authorized for repurchase at december 31|43071613|63046682|19201518|
|average price paid per share|$ 18.80|$ 14.82|n/a|
( a ) in march 2013 , the bancorp announced that its board of directors had authorized management to purchase 100 million shares of the bancorp 2019s common stock through the open market or in any private transaction . the authorization does not include specific price targets or an expiration date . this share repurchase authorization replaces the board 2019s previous authorization pursuant to which approximately 54 million shares remained available for repurchase by the bancorp . ( b ) excludes 1863097 , 2059003 and 1164254 shares repurchased during 2013 , 2012 , and 2011 , respectively , in connection with various employee compensation plans . these repurchases are not included in the calculation for average price paid and do not count against the maximum number of shares that may yet be repurchased under the board of directors 2019 authorization . stress tests and ccar the frb issued guidelines known as ccar , which provide a common , conservative approach to ensure bhcs , including the bancorp , hold adequate capital to maintain ready access to funding , continue operations and meet their obligations to creditors and counterparties , and continue to serve as credit intermediaries , even in adverse conditions . the ccar process requires the submission of a comprehensive capital plan that assumes a minimum planning horizon of nine quarters under various economic scenarios . the mandatory elements of the capital plan are an assessment of the expected use and sources of capital over the planning horizon , a description of all planned capital actions over the planning horizon , a discussion of any expected changes to the bancorp 2019s business plan that are likely to have a material impact on its capital adequacy or liquidity , a detailed description of the bancorp 2019s process for assessing capital adequacy and the bancorp 2019s capital policy . the capital plan must reflect the revised capital framework that the frb adopted in connection with the implementation of the basel iii accord , including the framework 2019s minimum regulatory capital ratios and transition arrangements . the frb 2019s review of the capital plan will assess the comprehensiveness of the capital plan , the reasonableness of the assumptions and the analysis underlying the capital plan . additionally , the frb reviews the robustness of the capital adequacy process , the capital policy and the bancorp 2019s ability to maintain capital above the minimum regulatory capital ratios as they transition to basel iii and above a basel i tier 1 common ratio of 5 percent under baseline and stressful conditions throughout a nine- quarter planning horizon . the frb issued stress testing rules that implement section 165 ( i ) ( 1 ) and ( i ) ( 2 ) of the dfa . large bhcs , including the bancorp , are subject to the final stress testing rules . the rules require both supervisory and company-run stress tests , which provide forward- looking information to supervisors to help assess whether institutions have sufficient capital to absorb losses and support operations during adverse economic conditions . in march of 2013 , the frb announced it had completed the 2013 ccar . for bhcs that proposed capital distributions in their plan , the frb either objected to the plan or provided a non- objection whereby the frb concurred with the proposed 2013 capital distributions . the frb indicated to the bancorp that it did not object to the following proposed capital actions for the period beginning april 1 , 2013 and ending march 31 , 2014 : f0b7 increase in the quarterly common stock dividend to $ 0.12 per share ; f0b7 repurchase of up to $ 750 million in trups subject to the determination of a regulatory capital event and replacement with the issuance of a similar amount of tier ii-qualifying subordinated debt ; f0b7 conversion of the $ 398 million in outstanding series g 8.5% ( 8.5 % ) convertible preferred stock into approximately 35.5 million common shares issued to the holders . if this conversion were to occur , the bancorp would intend to repurchase common shares equivalent to those issued in the conversion up to $ 550 million in market value , and issue $ 550 million in preferred stock; .
Question: what is the total cash outflow spent for shares repurchased during 2013 , 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: |
3524000.0 | Context:vornado realty trust notes to consolidated financial statements ( continued ) 13 . leases as lessor : we lease space to tenants under operating leases . most of the leases provide for the payment of fixed base rentals payable monthly in advance . office building leases generally require the tenants to reimburse us for operating costs and real estate taxes above their base year costs . shopping center leases provide for the pass-through to tenants the tenants 2019 share of real estate taxes , insurance and maintenance . shopping center leases also provide for the payment by the lessee of additional rent based on a percentage of the tenants 2019 sales . as of december 31 , 2008 , future base rental revenue under non-cancelable operating leases , excluding rents for leases with an original term of less than one year and rents resulting from the exercise of renewal options , is as follows : ( amounts in thousands ) year ending december 31: .
|2009|$ 1792000|
|2010|1732000|
|2011|1576000|
|2012|1417000|
|2013|1300000|
|thereafter|7216000|
these amounts do not include rentals based on tenants 2019 sales . these percentage rents approximated $ 7322000 , $ 9379000 , and $ 7593000 , for the years ended december 31 , 2008 , 2007 , and 2006 , respectively . none of our tenants accounted for more than 10% ( 10 % ) of total revenues for the years ended december 31 , 2008 , 2007 and former bradlees locations pursuant to the master agreement and guaranty , dated may 1 , 1992 , we are due $ 5000000 per annum of additional rent from stop & shop which was allocated to certain of bradlees former locations . on december 31 , 2002 , prior to the expiration of the leases to which the additional rent was allocated , we reallocated this rent to other former bradlees leases also guaranteed by stop & shop . stop & shop is contesting our right to reallocate and claims that we are no longer entitled to the additional rent . at december 31 , 2008 , we are due an aggregate of $ 30400000 . we believe the additional rent provision of the guaranty expires at the earliest in 2012 and we are vigorously contesting stop & shop 2019s position. .
Question: as of december 31 , 2008 , future base rental revenue under non-cancelable operating leases , excluding rents for leases with an original term of less than one year and rents resulting from the exercise of renewal options , totaled what ( in thousands ) for the years ending december 31 2009 and 2010? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
9682979.93 | Context:equity compensation plan information the following table summarizes the equity compensation plan information as of december 31 , 2011 . information is included for equity compensation plans approved by the stockholders and equity compensation plans not approved by the stockholders . number of securities to be issued upon exercise of outstanding options weighted average exercise number of securities remaining available for future issuance ( excluding securities reflected in column ( a ) ) equity compensation plans approved by security holders ( 1 ) 9683058 $ 78.07 7269562 equity compensation plans not approved by security holders ( 2 ) 776360 $ 42.82 .
|plan|number of securities tobe issued upon exerciseof outstanding options ( a )|weightedaverageexerciseprice ( b )|number of securitiesremaining available forfuture issuance ( excludingsecurities reflected incolumn ( a ) ) ( c )|
|equity compensation plansapproved by security holders ( 1 )|9683058|$ 78.07|7269562|
|equity compensation plans notapproved by security holders ( 2 )|776360|$ 42.82|-|
|total|10459418|$ 75.46|7269562|
( 1 ) includes the equity ownership plan , which was approved by the shareholders on may 15 , 1998 , the 2007 equity ownership plan and the 2011 equity ownership plan . the 2007 equity ownership plan was approved by entergy corporation shareholders on may 12 , 2006 , and 7000000 shares of entergy corporation common stock can be issued , with no more than 2000000 shares available for non-option grants . the 2011 equity ownership plan was approved by entergy corporation shareholders on may 6 , 2011 , and 5500000 shares of entergy corporation common stock can be issued from the 2011 equity ownership plan , with no more than 2000000 shares available for incentive stock option grants . the equity ownership plan , the 2007 equity ownership plan and the 2011 equity ownership plan ( the 201cplans 201d ) are administered by the personnel committee of the board of directors ( other than with respect to awards granted to non-employee directors , which awards are administered by the entire board of directors ) . eligibility under the plans is limited to the non-employee directors and to the officers and employees of an entergy system employer and any corporation 80% ( 80 % ) or more of whose stock ( based on voting power ) or value is owned , directly or indirectly , by entergy corporation . the plans provide for the issuance of stock options , restricted shares , equity awards ( units whose value is related to the value of shares of the common stock but do not represent actual shares of common stock ) , performance awards ( performance shares or units valued by reference to shares of common stock or performance units valued by reference to financial measures or property other than common stock ) and other stock-based awards . ( 2 ) entergy has a board-approved stock-based compensation plan . however , effective may 9 , 2003 , the board has directed that no further awards be issued under that plan . item 13 . certain relationships and related transactions and director independence for information regarding certain relationships , related transactions and director independence of entergy corporation , see the proxy statement under the headings 201ccorporate governance - director independence 201d and 201ctransactions with related persons , 201d which information is incorporated herein by reference . since december 31 , 2010 , none of the subsidiaries or any of their affiliates has participated in any transaction involving an amount in excess of $ 120000 in which any director or executive officer of any of the subsidiaries , any nominee for director , or any immediate family member of the foregoing had a material interest as contemplated by item 404 ( a ) of regulation s-k ( 201crelated party transactions 201d ) . entergy corporation 2019s board of directors has adopted written policies and procedures for the review , approval or ratification of related party transactions . under these policies and procedures , the corporate governance committee , or a subcommittee of the board of directors of entergy corporation composed of .
Question: what is thee total value of outstanding security options? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
9.52381 | Context:table of contents ( 4 ) the decline in cash flows was driven by the timing of inventory purchases at the end of 2014 versus 2013 . in order to manage our working capital and operating cash needs , we monitor our cash conversion cycle , defined as days of sales outstanding in accounts receivable plus days of supply in inventory minus days of purchases outstanding in accounts payable , based on a rolling three-month average . components of our cash conversion cycle are as follows: .
|( in days )|december 31 , 2015|december 31 , 2014|december 31 , 2013|
|days of sales outstanding ( dso ) ( 1 )|48|42|44|
|days of supply in inventory ( dio ) ( 2 )|13|13|14|
|days of purchases outstanding ( dpo ) ( 3 )|-40 ( 40 )|-34 ( 34 )|-35 ( 35 )|
|cash conversion cycle|21|21|23|
( 1 ) represents the rolling three-month average of the balance of trade accounts receivable , net at the end of the period divided by average daily net sales for the same three-month period . also incorporates components of other miscellaneous receivables . ( 2 ) represents the rolling three-month average of the balance of merchandise inventory at the end of the period divided by average daily cost of goods sold for the same three-month period . ( 3 ) represents the rolling three-month average of the combined balance of accounts payable-trade , excluding cash overdrafts , and accounts payable-inventory financing at the end of the period divided by average daily cost of goods sold for the same three-month period . the cash conversion cycle remained at 21 days at december 31 , 2015 and december 31 , 2014 . the increase in dso was primarily driven by a higher accounts receivable balance at december 31 , 2015 driven by higher public segment sales where customers generally take longer to pay than customers in our corporate segment , slower government payments in certain states due to budget issues and an increase in net sales and related accounts receivable for third-party services such as software assurance and warranties . these services have an unfavorable impact on dso as the receivable is recognized on the balance sheet on a gross basis while the corresponding sales amount in the statement of operations is recorded on a net basis . these services have a favorable impact on dpo as the payable is recognized on the balance sheet without a corresponding cost of sale in the statement of operations because the cost paid to the vendor or third-party service provider is recorded as a reduction to net sales . in addition to the impact of these services on dpo , dpo also increased due to the mix of payables with certain vendors that have longer payment terms . the cash conversion cycle decreased to 21 days at december 31 , 2014 compared to 23 days at december 31 , 2013 , primarily driven by improvement in dso . the decline in dso was primarily driven by improved collections and early payments from certain customers . additionally , the timing of inventory receipts at the end of 2014 had a favorable impact on dio and an unfavorable impact on dpo . investing activities net cash used in investing activities increased $ 189.6 million in 2015 compared to 2014 . the increase was primarily due to the completion of the acquisition of kelway by purchasing the remaining 65% ( 65 % ) of its outstanding common stock on august 1 , 2015 . additionally , capital expenditures increased $ 35.1 million to $ 90.1 million from $ 55.0 million for 2015 and 2014 , respectively , primarily for our new office location and an increase in spending related to improvements to our information technology systems . net cash used in investing activities increased $ 117.7 million in 2014 compared to 2013 . we paid $ 86.8 million in the fourth quarter of 2014 to acquire a 35% ( 35 % ) non-controlling interest in kelway . additionally , capital expenditures increased $ 7.9 million to $ 55.0 million from $ 47.1 million in 2014 and 2013 , respectively , primarily for improvements to our information technology systems during both years . financing activities net cash used in financing activities increased $ 114.5 million in 2015 compared to 2014 . the increase was primarily driven by share repurchases during the year ended december 31 , 2015 which resulted in an increase in cash used for financing activities of $ 241.3 million . for more information on our share repurchase program , see item 5 , 201cmarket for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities . 201d the increase was partially offset by the changes in accounts payable-inventory financing , which resulted in an increase in cash provided for financing activities of $ 20.4 million , and the net impact of our debt transactions which resulted in cash outflows of $ 7.1 million and $ 145.9 million during the years .
Question: from dec 31 , 2013 to dec 31 , 2014 , what was the percentage decrease in the length of the cash conversion cycle? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
7.4497 | Context:the following table shows reporting units with goodwill balances as of december 31 , 2010 , and the excess of fair value as a percentage over allocated book value as of the annual impairment test . in millions of dollars reporting unit ( 1 ) fair value as a % ( % ) of allocated book value goodwill .
|reporting unit ( 1 )|fair value as a % ( % ) of allocated book value|goodwill|
|north america regional consumer banking|170% ( 170 % )|$ 2518|
|emea regional consumer banking|168|338|
|asia regional consumer banking|344|6045|
|latin america regional consumer banking|230|1800|
|securities and banking|223|9259|
|transaction services|1716|1567|
|brokerage and asset management|151|65|
|local consumer lending 2014cards|121|4560|
( 1 ) local consumer lending 2014other is excluded from the table as there is no goodwill allocated to it . while no impairment was noted in step one of citigroup 2019s local consumer lending 2014cards reporting unit impairment test at july 1 , 2010 , goodwill present in the reporting unit may be sensitive to further deterioration as the valuation of the reporting unit is particularly dependent upon economic conditions that affect consumer credit risk and behavior . citigroup engaged the services of an independent valuation specialist to assist in the valuation of the reporting unit at july 1 , 2010 , using a combination of the market approach and income approach consistent with the valuation model used in past practice , which considered the impact of the penalty fee provisions associated with the credit card accountability responsibility and disclosure act of 2009 ( card act ) that were implemented during 2010 . under the market approach for valuing this reporting unit , the key assumption is the selected price multiple . the selection of the multiple considers the operating performance and financial condition of the local consumer lending 2014cards operations as compared with those of a group of selected publicly traded guideline companies and a group of selected acquired companies . among other factors , the level and expected growth in return on tangible equity relative to those of the guideline companies and guideline transactions is considered . since the guideline company prices used are on a minority interest basis , the selection of the multiple considers the guideline acquisition prices , which reflect control rights and privileges , in arriving at a multiple that reflects an appropriate control premium . for the local consumer lending 2014cards valuation under the income approach , the assumptions used as the basis for the model include cash flows for the forecasted period , the assumptions embedded in arriving at an estimation of the terminal value and the discount rate . the cash flows for the forecasted period are estimated based on management 2019s most recent projections available as of the testing date , giving consideration to targeted equity capital requirements based on selected public guideline companies for the reporting unit . in arriving at the terminal value for local consumer lending 2014cards , using 2013 as the terminal year , the assumptions used include a long-term growth rate and a price-to-tangible book multiple based on selected public guideline companies for the reporting unit . the discount rate is based on the reporting unit 2019s estimated cost of equity capital computed under the capital asset pricing model . embedded in the key assumptions underlying the valuation model , described above , is the inherent uncertainty regarding the possibility that economic conditions may deteriorate or other events will occur that will impact the business model for local consumer lending 2014cards . while there is inherent uncertainty embedded in the assumptions used in developing management 2019s forecasts , the company utilized a discount rate at july 1 , 2010 that it believes reflects the risk characteristics and uncertainty specific to management 2019s forecasts and assumptions for the local consumer lending 2014cards reporting unit . two primary categories of events exist 2014economic conditions in the u.s . and regulatory actions 2014which , if they were to occur , could negatively affect key assumptions used in the valuation of local consumer lending 2014cards . small deterioration in the assumptions used in the valuations , in particular the discount-rate and growth-rate assumptions used in the net income projections , could significantly affect citigroup 2019s impairment evaluation and , hence , results . if the future were to differ adversely from management 2019s best estimate of key economic assumptions , and associated cash flows were to decrease by a small margin , citi could potentially experience future material impairment charges with respect to $ 4560 million of goodwill remaining in the local consumer lending 2014 cards reporting unit . any such charges , by themselves , would not negatively affect citi 2019s tier 1 and total capital regulatory ratios , tier 1 common ratio , its tangible common equity or citi 2019s liquidity position. .
Question: what is the ratio of the goodwill for north america regional consumer banking to emea regional consumer banking | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-0.11842 | Context:item 7a . quantitative and qualitative disclosures about market risk ( amounts in millions ) in the normal course of business , we are exposed to market risks related to interest rates , foreign currency rates and certain balance sheet items . from time to time , we use derivative instruments , pursuant to established guidelines and policies , to manage some portion of these risks . derivative instruments utilized in our hedging activities are viewed as risk management tools and are not used for trading or speculative purposes . interest rates our exposure to market risk for changes in interest rates relates primarily to the fair market value and cash flows of our debt obligations . the majority of our debt ( approximately 93% ( 93 % ) and 89% ( 89 % ) as of december 31 , 2016 and 2015 , respectively ) bears interest at fixed rates . we do have debt with variable interest rates , but a 10% ( 10 % ) increase or decrease in interest rates would not be material to our interest expense or cash flows . the fair market value of our debt is sensitive to changes in interest rates , and the impact of a 10% ( 10 % ) change in interest rates is summarized below . increase/ ( decrease ) in fair market value as of december 31 , 10% ( 10 % ) increase in interest rates 10% ( 10 % ) decrease in interest rates .
|as of december 31,|increase/ ( decrease ) in fair market value 10% ( 10 % ) increasein interest rates|increase/ ( decrease ) in fair market value 10% ( 10 % ) decreasein interest rates|
|2016|$ -26.3 ( 26.3 )|$ 26.9|
|2015|-33.7 ( 33.7 )|34.7|
we have used interest rate swaps for risk management purposes to manage our exposure to changes in interest rates . we do not have any interest rate swaps outstanding as of december 31 , 2016 . we had $ 1100.6 of cash , cash equivalents and marketable securities as of december 31 , 2016 that we generally invest in conservative , short-term bank deposits or securities . the interest income generated from these investments is subject to both domestic and foreign interest rate movements . during 2016 and 2015 , we had interest income of $ 20.1 and $ 22.8 , respectively . based on our 2016 results , a 100 basis-point increase or decrease in interest rates would affect our interest income by approximately $ 11.0 , assuming that all cash , cash equivalents and marketable securities are impacted in the same manner and balances remain constant from year-end 2016 levels . foreign currency rates we are subject to translation and transaction risks related to changes in foreign currency exchange rates . since we report revenues and expenses in u.s . dollars , changes in exchange rates may either positively or negatively affect our consolidated revenues and expenses ( as expressed in u.s . dollars ) from foreign operations . the foreign currencies that most impacted our results during 2016 included the british pound sterling and , to a lesser extent , the argentine peso , brazilian real and japanese yen . based on 2016 exchange rates and operating results , if the u.s . dollar were to strengthen or weaken by 10% ( 10 % ) , we currently estimate operating income would decrease or increase approximately 4% ( 4 % ) , assuming that all currencies are impacted in the same manner and our international revenue and expenses remain constant at 2016 levels . the functional currency of our foreign operations is generally their respective local currency . assets and liabilities are translated at the exchange rates in effect at the balance sheet date , and revenues and expenses are translated at the average exchange rates during the period presented . the resulting translation adjustments are recorded as a component of accumulated other comprehensive loss , net of tax , in the stockholders 2019 equity section of our consolidated balance sheets . our foreign subsidiaries generally collect revenues and pay expenses in their functional currency , mitigating transaction risk . however , certain subsidiaries may enter into transactions in currencies other than their functional currency . assets and liabilities denominated in currencies other than the functional currency are susceptible to movements in foreign currency until final settlement . currency transaction gains or losses primarily arising from transactions in currencies other than the functional currency are included in office and general expenses . we regularly review our foreign exchange exposures that may have a material impact on our business and from time to time use foreign currency forward exchange contracts or other derivative financial instruments to hedge the effects of potential adverse fluctuations in foreign currency exchange rates arising from these exposures . we do not enter into foreign exchange contracts or other derivatives for speculative purposes. .
Question: what is the percentage change in interest income 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: |
0.10548 | Context:the aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2011 , 2010 , and 2009 ( 1 ) weighted average interest rate at december 31 , 2011 . ( 2 ) the company has interest rate swaps and interest rate option agreements in an aggregate notional principal amount of approximately $ 3.6 billion on non-recourse debt outstanding at december 31 , 2011 . the swap agreements economically change the variable interest rates on the portion of the debt covered by the notional amounts to fixed rates ranging from approximately 1.44% ( 1.44 % ) to 6.98% ( 6.98 % ) . the option agreements fix interest rates within a range from 1.00% ( 1.00 % ) to 7.00% ( 7.00 % ) . the agreements expire at various dates from 2016 through 2028 . ( 3 ) multilateral loans include loans funded and guaranteed by bilaterals , multilaterals , development banks and other similar institutions . ( 4 ) non-recourse debt of $ 704 million and $ 945 million as of december 31 , 2011 and 2010 , respectively , was excluded from non-recourse debt and included in current and long-term liabilities of held for sale and discontinued businesses in the accompanying consolidated balance sheets . non-recourse debt as of december 31 , 2011 is scheduled to reach maturity as set forth in the table below : december 31 , annual maturities ( in millions ) .
|december 31,|annual maturities ( in millions )|
|2012|$ 2152|
|2013|1389|
|2014|1697|
|2015|851|
|2016|2301|
|thereafter|7698|
|total non-recourse debt|$ 16088|
as of december 31 , 2011 , aes subsidiaries with facilities under construction had a total of approximately $ 1.4 billion of committed but unused credit facilities available to fund construction and other related costs . excluding these facilities under construction , aes subsidiaries had approximately $ 1.2 billion in a number of available but unused committed revolving credit lines to support their working capital , debt service reserves and other business needs . these credit lines can be used in one or more of the following ways : solely for borrowings ; solely for letters of credit ; or a combination of these uses . the weighted average interest rate on borrowings from these facilities was 14.75% ( 14.75 % ) at december 31 , 2011 . on october 3 , 2011 , dolphin subsidiary ii , inc . ( 201cdolphin ii 201d ) , a newly formed , wholly-owned special purpose indirect subsidiary of aes , entered into an indenture ( the 201cindenture 201d ) with wells fargo bank , n.a . ( the 201ctrustee 201d ) as part of its issuance of $ 450 million aggregate principal amount of 6.50% ( 6.50 % ) senior notes due 2016 ( the 201c2016 notes 201d ) and $ 800 million aggregate principal amount of 7.25% ( 7.25 % ) senior notes due 2021 ( the 201c7.25% ( 201c7.25 % ) 2021 notes 201d , together with the 2016 notes , the 201cnotes 201d ) to finance the acquisition ( the 201cacquisition 201d ) of dpl . upon closing of the acquisition on november 28 , 2011 , dolphin ii was merged into dpl with dpl being the surviving entity and obligor . the 2016 notes and the 7.25% ( 7.25 % ) 2021 notes are included under 201cnotes and bonds 201d in the non-recourse detail table above . see note 23 2014acquisitions and dispositions for further information . interest on the 2016 notes and the 7.25% ( 7.25 % ) 2021 notes accrues at a rate of 6.50% ( 6.50 % ) and 7.25% ( 7.25 % ) per year , respectively , and is payable on april 15 and october 15 of each year , beginning april 15 , 2012 . prior to september 15 , 2016 with respect to the 2016 notes and july 15 , 2021 with respect to the 7.25% ( 7.25 % ) 2021 notes , dpl may redeem some or all of the 2016 notes or 7.25% ( 7.25 % ) 2021 notes at par , plus a 201cmake-whole 201d amount set forth in .
Question: what percentage of total non-recourse debt as of december 31 , 2011 is 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: |
4.0 | Context:notes to consolidated financial statements note 20 . regulation and capital adequacy the federal reserve board is the primary regulator of group inc. , a bank holding company under the bank holding company act of 1956 ( bhc act ) and a financial holding company under amendments to the bhc act effected by the u.s . gramm-leach-bliley act of 1999 . as a bank holding company , the firm is subject to consolidated regulatory capital requirements that are computed in accordance with the federal reserve board 2019s risk-based capital requirements ( which are based on the 2018basel 1 2019 capital accord of the basel committee ) . these capital requirements are expressed as capital ratios that compare measures of capital to risk-weighted assets ( rwas ) . the firm 2019s u.s . bank depository institution subsidiaries , including gs bank usa , are subject to similar capital requirements . under the federal reserve board 2019s capital adequacy requirements and the regulatory framework for prompt corrective action that is applicable to gs bank usa , the firm and its u.s . bank depository institution subsidiaries must meet specific capital requirements that involve quantitative measures of assets , liabilities and certain off- balance-sheet items as calculated under regulatory reporting practices . the firm and its u.s . bank depository institution subsidiaries 2019 capital amounts , as well as gs bank usa 2019s prompt corrective action classification , are also subject to qualitative judgments by the regulators about components , risk weightings and other factors . many of the firm 2019s subsidiaries , including gs&co . and the firm 2019s other broker-dealer subsidiaries , are subject to separate regulation and capital requirements as described below . group inc . federal reserve board regulations require bank holding companies to maintain a minimum tier 1 capital ratio of 4% ( 4 % ) and a minimum total capital ratio of 8% ( 8 % ) . the required minimum tier 1 capital ratio and total capital ratio in order to be considered a 201cwell-capitalized 201d bank holding company under the federal reserve board guidelines are 6% ( 6 % ) and 10% ( 10 % ) , respectively . bank holding companies may be expected to maintain ratios well above the minimum levels , depending on their particular condition , risk profile and growth plans . the minimum tier 1 leverage ratio is 3% ( 3 % ) for bank holding companies that have received the highest supervisory rating under federal reserve board guidelines or that have implemented the federal reserve board 2019s risk-based capital measure for market risk . other bank holding companies must have a minimum tier 1 leverage ratio of 4% ( 4 % ) . the table below presents information regarding group inc . 2019s regulatory capital ratios. .
|$ in millions|as of december 2012|as of december 2011|
|tier 1 capital|$ 66977|$ 63262|
|tier 2 capital|$ 13429|$ 13881|
|total capital|$ 80406|$ 77143|
|risk-weighted assets|$ 399928|$ 457027|
|tier 1 capital ratio|16.7% ( 16.7 % )|13.8% ( 13.8 % )|
|total capital ratio|20.1% ( 20.1 % )|16.9% ( 16.9 % )|
|tier 1 leverage ratio|7.3% ( 7.3 % )|7.0% ( 7.0 % )|
rwas under the federal reserve board 2019s risk-based capital requirements are calculated based on the amount of market risk and credit risk . rwas for market risk are determined by reference to the firm 2019s value-at-risk ( var ) model , supplemented by other measures to capture risks not reflected in the firm 2019s var model . credit risk for on- balance sheet assets is based on the balance sheet value . for off-balance sheet exposures , including otc derivatives and commitments , a credit equivalent amount is calculated based on the notional amount of each trade . all such assets and exposures are then assigned a risk weight depending on , among other things , whether the counterparty is a sovereign , bank or a qualifying securities firm or other entity ( or if collateral is held , depending on the nature of the collateral ) . tier 1 leverage ratio is defined as tier 1 capital under basel 1 divided by average adjusted total assets ( which includes adjustments for disallowed goodwill and intangible assets , and the carrying value of equity investments in non-financial companies that are subject to deductions from tier 1 capital ) . 184 goldman sachs 2012 annual report .
Question: for federal reserve board regulations requiring bank holding companies to maintain a minimum tier 1 capital ratio , what is the range of the minimum total capital ratio in percentage points ? . | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.02 | Context:consolidated income statement review our consolidated income statement is presented in item 8 of this report . net income for 2012 was $ 3.0 billion compared with $ 3.1 billion for 2011 . revenue growth of 8 percent and a decline in the provision for credit losses were more than offset by a 16 percent increase in noninterest expense in 2012 compared to 2011 . further detail is included in the net interest income , noninterest income , provision for credit losses and noninterest expense portions of this consolidated income statement review . net interest income table 2 : net interest income and net interest margin year ended december 31 dollars in millions 2012 2011 .
|year ended december 31dollars in millions|2012|2011|
|net interest income|$ 9640|$ 8700|
|net interest margin|3.94% ( 3.94 % )|3.92% ( 3.92 % )|
changes in net interest income and margin result from the interaction of the volume and composition of interest-earning assets and related yields , interest-bearing liabilities and related rates paid , and noninterest-bearing sources of funding . see the statistical information ( unaudited ) 2013 average consolidated balance sheet and net interest analysis and analysis of year-to-year changes in net interest income in item 8 of this report and the discussion of purchase accounting accretion of purchased impaired loans in the consolidated balance sheet review in this item 7 for additional information . the increase in net interest income in 2012 compared with 2011 was primarily due to the impact of the rbc bank ( usa ) acquisition , organic loan growth and lower funding costs . purchase accounting accretion remained stable at $ 1.1 billion in both periods . the net interest margin was 3.94% ( 3.94 % ) for 2012 and 3.92% ( 3.92 % ) for 2011 . the increase in the comparison was primarily due to a decrease in the weighted-average rate accrued on total interest- bearing liabilities of 29 basis points , largely offset by a 21 basis point decrease on the yield on total interest-earning assets . the decrease in the rate on interest-bearing liabilities was primarily due to the runoff of maturing retail certificates of deposit and the redemption of additional trust preferred and hybrid capital securities during 2012 , in addition to an increase in fhlb borrowings and commercial paper as lower-cost funding sources . the decrease in the yield on interest-earning assets was primarily due to lower rates on new loan volume and lower yields on new securities in the current low rate environment . with respect to the first quarter of 2013 , we expect net interest income to decline by two to three percent compared to fourth quarter 2012 net interest income of $ 2.4 billion , due to a decrease in purchase accounting accretion of up to $ 50 to $ 60 million , including lower expected cash recoveries . for the full year 2013 , we expect net interest income to decrease compared with 2012 , assuming an expected decline in purchase accounting accretion of approximately $ 400 million , while core net interest income is expected to increase in the year-over-year comparison . we believe our net interest margin will come under pressure in 2013 , due to the expected decline in purchase accounting accretion and assuming that the current low rate environment continues . noninterest income noninterest income totaled $ 5.9 billion for 2012 and $ 5.6 billion for 2011 . the overall increase in the comparison was primarily due to an increase in residential mortgage loan sales revenue driven by higher loan origination volume , gains on sales of visa class b common shares and higher corporate service fees , largely offset by higher provision for residential mortgage repurchase obligations . asset management revenue , including blackrock , totaled $ 1.2 billion in 2012 compared with $ 1.1 billion in 2011 . this increase was primarily due to higher earnings from our blackrock investment . discretionary assets under management increased to $ 112 billion at december 31 , 2012 compared with $ 107 billion at december 31 , 2011 driven by stronger average equity markets , positive net flows and strong sales performance . for 2012 , consumer services fees were $ 1.1 billion compared with $ 1.2 billion in 2011 . the decline reflected the regulatory impact of lower interchange fees on debit card transactions partially offset by customer growth . as further discussed in the retail banking portion of the business segments review section of this item 7 , the dodd-frank limits on interchange rates were effective october 1 , 2011 and had a negative impact on revenue of approximately $ 314 million in 2012 and $ 75 million in 2011 . this impact was partially offset by higher volumes of merchant , customer credit card and debit card transactions and the impact of the rbc bank ( usa ) acquisition . corporate services revenue increased by $ .3 billion , or 30 percent , to $ 1.2 billion in 2012 compared with $ .9 billion in 2011 due to higher commercial mortgage servicing revenue and higher merger and acquisition advisory fees in 2012 . the major components of corporate services revenue are treasury management revenue , corporate finance fees , including revenue from capital markets-related products and services , and commercial mortgage servicing revenue , including commercial mortgage banking activities . see the product revenue portion of this consolidated income statement review for further detail . the pnc financial services group , inc . 2013 form 10-k 39 .
Question: what was the change in net interest margin between 2012 and 2011.? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
9459.0 | Context:kimco realty corporation and subsidiaries notes to consolidated financial statements , continued the company 2019s investments in latin america are made through individual entities which are subject to local taxes . the company assesses each entity to determine if deferred tax assets are more likely than not realizable . this assessment primarily includes an analysis of cumulative earnings and the determination of future earnings to the extent necessary to fully realize the individual deferred tax asset . based on this analysis the company has determined that a full valuation allowance is required for entities which have a three-year cumulative book loss and for which future earnings are not readily determinable . in addition , the company has determined that no valuation allowance is needed for entities that have three-years of cumulative book income and future earnings are anticipated to be sufficient to more likely than not realize their deferred tax assets . at december 31 , 2014 , the company had total deferred tax assets of $ 9.5 million relating to its latin american investments with an aggregate valuation allowance of $ 9.3 million . the company 2019s deferred tax assets in canada result principally from depreciation deducted under gaap that exceed capital cost allowances claimed under canadian tax rules . the deferred tax asset will naturally reverse upon disposition as tax basis will be greater than the basis of the assets under generally accepted accounting principles . as of december 31 , 2014 , the company determined that no valuation allowance was needed against a $ 65.5 million net deferred tax asset within krs . the company based its determination on an analysis of both positive evidence and negative evidence using its judgment as to the relative weight of each . the company believes , when evaluating krs 2019s deferred tax assets , special consideration should be given to the unique relationship between the company as a reit and krs as a taxable reit subsidiary . this relationship exists primarily to protect the reit 2019s qualification under the code by permitting , within certain limits , the reit to engage in certain business activities in which the reit cannot directly participate . as such , the reit controls which and when investments are held in , or distributed or sold from , krs . this relationship distinguishes a reit and taxable reit subsidiary from an enterprise that operates as a single , consolidated corporate taxpayer . the company will continue through this structure to operate certain business activities in krs . the company 2019s analysis of krs 2019s ability to utilize its deferred tax assets includes an estimate of future projected income . to determine future projected income , the company scheduled krs 2019s pre-tax book income and taxable income over a twenty year period taking into account its continuing operations ( 201ccore earnings 201d ) . core earnings consist of estimated net operating income for properties currently in service and generating rental income . major lease turnover is not expected in these properties as these properties were generally constructed and leased within the past seven years . the company can employ strategies to realize krs 2019s deferred tax assets including transferring its property management business or selling certain built-in gain assets . the company 2019s projection of krs 2019s future taxable income over twenty years , utilizing the assumptions above with respect to core earnings , net of related expenses , generates sufficient taxable income to absorb a reversal of the company 2019s deductible temporary differences , including net operating loss carryovers . based on this analysis , the company concluded it is more likely than not that krs 2019s net deferred tax asset of $ 65.5 million ( excluding net deferred tax assets of fnc discussed above ) will be realized and therefore , no valuation allowance is needed at december 31 , 2014 . if future income projections do not occur as forecasted or the company incurs additional impairment losses in excess of the amount core earnings can absorb , the company will reconsider the need for a valuation allowance . provision/ ( benefit ) differ from the amounts computed by applying the statutory federal income tax rate to taxable income before income taxes as follows ( in thousands ) : .
||2014|2013|2012|
|federal provision/ ( benefit ) at statutory tax rate ( 35% ( 35 % ) )|$ 7762|$ -1697 ( 1697 )|$ 2936|
|state and local provision/ ( benefit ) net of federal benefit|1304|-205 ( 205 )|230|
|acquisition of fnc|-|-9126 ( 9126 )|-|
|other|-|229|-25 ( 25 )|
|total tax provision/ ( benefit ) 2013 u.s .|$ 9066|$ -10799 ( 10799 )|$ 3141|
.
Question: what was the change in the federal provision/ ( benefit ) from 2013 to 2014 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: |
80.0 | Context:contributions and expected benefit payments the funding of our qualified defined benefit pension plans is determined in accordance with erisa , as amended by the ppa , and in a manner consistent with cas and internal revenue code rules . in 2015 , we made $ 5 million in contributions to our new sikorsky bargained qualified defined benefit pension plan and we plan to make approximately $ 25 million in contributions to this plan in 2016 . the following table presents estimated future benefit payments , which reflect expected future employee service , as of december 31 , 2015 ( in millions ) : .
||2016|2017|2018|2019|2020|2021 - 2025|
|qualified defined benefit pension plans|$ 2160|$ 2240|$ 2320|$ 2410|$ 2500|$ 13670|
|retiree medical and life insurance plans|190|190|200|200|200|940|
defined contribution plans we maintain a number of defined contribution plans , most with 401 ( k ) features , that cover substantially all of our employees . under the provisions of our 401 ( k ) plans , we match most employees 2019 eligible contributions at rates specified in the plan documents . our contributions were $ 393 million in 2015 , $ 385 million in 2014 and $ 383 million in 2013 , the majority of which were funded in our common stock . our defined contribution plans held approximately 40.0 million and 41.7 million shares of our common stock as of december 31 , 2015 and 2014 . note 12 2013 stockholders 2019 equity at december 31 , 2015 and 2014 , our authorized capital was composed of 1.5 billion shares of common stock and 50 million shares of series preferred stock . of the 305 million shares of common stock issued and outstanding as of december 31 , 2015 , 303 million shares were considered outstanding for balance sheet presentation purposes ; the remaining shares were held in a separate trust . of the 316 million shares of common stock issued and outstanding as of december 31 , 2014 , 314 million shares were considered outstanding for balance sheet presentation purposes ; the remaining shares were held in a separate trust . no shares of preferred stock were issued and outstanding at december 31 , 2015 or 2014 . repurchases of common stock during 2015 , we repurchased 15.2 million shares of our common stock for $ 3.1 billion . during 2014 and 2013 , we paid $ 1.9 billion and $ 1.8 billion to repurchase 11.5 million and 16.2 million shares of our common stock . on september 24 , 2015 , our board of directors approved a $ 3.0 billion increase to our share repurchase program . inclusive of this increase , the total remaining authorization for future common share repurchases under our program was $ 3.6 billion as of december 31 , 2015 . as we repurchase our common shares , we reduce common stock for the $ 1 of par value of the shares repurchased , with the excess purchase price over par value recorded as a reduction of additional paid-in capital . due to the volume of repurchases made under our share repurchase program , additional paid-in capital was reduced to zero , with the remainder of the excess purchase price over par value of $ 2.4 billion and $ 1.1 billion recorded as a reduction of retained earnings in 2015 and 2014 . we paid dividends totaling $ 1.9 billion ( $ 6.15 per share ) in 2015 , $ 1.8 billion ( $ 5.49 per share ) in 2014 and $ 1.5 billion ( $ 4.78 per share ) in 2013 . we have increased our quarterly dividend rate in each of the last three years , including a 10% ( 10 % ) increase in the quarterly dividend rate in the fourth quarter of 2015 . we declared quarterly dividends of $ 1.50 per share during each of the first three quarters of 2015 and $ 1.65 per share during the fourth quarter of 2015 ; $ 1.33 per share during each of the first three quarters of 2014 and $ 1.50 per share during the fourth quarter of 2014 ; and $ 1.15 per share during each of the first three quarters of 2013 and $ 1.33 per share during the fourth quarter of 2013. .
Question: what is the change in millions of qualified defined benefit pension plans expected to be paid out between 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: |
0.04046 | Context:contractual obligations fis 2019 long-term contractual obligations generally include its long-term debt , interest on long-term debt , lease payments on certain of its property and equipment and payments for data processing and maintenance . for more descriptive information regarding the company's long-term debt , see note 13 in the notes to consolidated financial statements . the following table summarizes fis 2019 significant contractual obligations and commitments as of december 31 , 2012 ( in millions ) : less than 1-3 3-5 more than total 1 year years years 5 years .
||total|less than 1 year|1-3 years|3-5 years|more than 5 years|
|long-term debt|$ 4385.5|$ 153.9|$ 757.1|$ 2274.5|$ 1200.0|
|interest ( 1 )|1137.6|200.4|372.9|288.8|275.5|
|operating leases|226.6|55.0|96.2|46.4|29.0|
|data processing and maintenance|246.7|131.7|78.9|28.4|7.7|
|other contractual obligations ( 2 )|100.7|18.8|52.0|10.6|19.3|
|total|$ 6097.1|$ 559.8|$ 1357.1|$ 2648.7|$ 1531.5|
( 1 ) these calculations assume that : ( a ) applicable margins remain constant ; ( b ) all variable rate debt is priced at the one-month libor rate in effect as of december 31 , 2012 ; ( c ) no new hedging transactions are effected ; ( d ) only mandatory debt repayments are made ; and ( e ) no refinancing occurs at debt maturity . ( 2 ) amount includes the payment for labor claims related to fis' former item processing and remittance operations in brazil ( see note 3 to the consolidated financial statements ) and amounts due to the brazilian venture partner . fis believes that its existing cash balances , cash flows from operations and borrowing programs will provide adequate sources of liquidity and capital resources to meet fis 2019 expected short-term liquidity needs and its long-term needs for the operations of its business , expected capital spending for the next 12 months and the foreseeable future and the satisfaction of these obligations and commitments . off-balance sheet arrangements fis does not have any off-balance sheet arrangements . item 7a . quantitative and qualitative disclosure about market risks market risk we are exposed to market risks primarily from changes in interest rates and foreign currency exchange rates . we use certain derivative financial instruments , including interest rate swaps and foreign currency forward exchange contracts , to manage interest rate and foreign currency risk . we do not use derivatives for trading purposes , to generate income or to engage in speculative activity . interest rate risk in addition to existing cash balances and cash provided by operating activities , we use fixed rate and variable rate debt to finance our operations . we are exposed to interest rate risk on these debt obligations and related interest rate swaps . the notes ( as defined in note 13 to the consolidated financial statements ) represent substantially all of our fixed-rate long-term debt obligations . the carrying value of the notes was $ 1950.0 million as of december 31 , 2012 . the fair value of the notes was approximately $ 2138.2 million as of december 31 , 2012 . the potential reduction in fair value of the notes from a hypothetical 10 percent increase in market interest rates would not be material to the overall fair value of the debt . our floating rate long-term debt obligations principally relate to borrowings under the fis credit agreement ( as also defined in note 13 to the consolidated financial statements ) . an increase of 100 basis points in the libor rate would increase our annual debt service under the fis credit agreement , after we include the impact of our interest rate swaps , by $ 9.3 million ( based on principal amounts outstanding as of december 31 , 2012 ) . we performed the foregoing sensitivity analysis based on the principal amount of our floating rate debt as of december 31 , 2012 , less the principal amount of such debt that was then subject to an interest rate swap converting such debt into fixed rate debt . this sensitivity analysis is based solely on .
Question: what percent of total contractual obligations and commitments as of december 31 , 2012 are data processing and maintenance? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.07692 | Context:the company is currently under audit by the internal revenue service and other major taxing jurisdictions around the world . it is thus reasonably possible that significant changes in the gross balance of unrecognized tax benefits may occur within the next 12 months , but the company does not expect such audits to result in amounts that would cause a significant change to its effective tax rate , other than the following items . the company is currently at irs appeals for the years 1999 20132002 . one of the issues relates to the timing of the inclusion of interchange fees received by the company relating to credit card purchases by its cardholders . it is reasonably possible that within the next 12 months the company can either reach agreement on this issue at appeals or decide to litigate the issue . this issue is presently being litigated by another company in a united states tax court case . the gross uncertain tax position for this item at december 31 , 2008 is $ 542 million . since this is a temporary difference , the only effect to the company 2019s effective tax rate would be due to net interest and state tax rate differentials . if the reserve were to be released , the tax benefit could be as much as $ 168 million . in addition , the company expects to conclude the irs audit of its u.s . federal consolidated income tax returns for the years 2003 20132005 within the next 12 months . the gross uncertain tax position at december 31 , 2008 for the items expected to be resolved is approximately $ 350 million plus gross interest of $ 70 million . the potential net tax benefit to continuing operations could be approximately $ 325 million . the following are the major tax jurisdictions in which the company and its affiliates operate and the earliest tax year subject to examination: .
|jurisdiction|tax year|
|united states|2003|
|mexico|2006|
|new york state and city|2005|
|united kingdom|2007|
|germany|2000|
|korea|2005|
|japan|2006|
|brazil|2004|
foreign pretax earnings approximated $ 10.3 billion in 2008 , $ 9.1 billion in 2007 , and $ 13.6 billion in 2006 ( $ 5.1 billion , $ 0.7 billion and $ 0.9 billion of which , respectively , are in discontinued operations ) . as a u.s . corporation , citigroup and its u.s . subsidiaries are subject to u.s . taxation currently on all foreign pretax earnings earned by a foreign branch . pretax earnings of a foreign subsidiary or affiliate are subject to u.s . taxation when effectively repatriated . the company provides income taxes on the undistributed earnings of non-u.s . subsidiaries except to the extent that such earnings are indefinitely invested outside the united states . at december 31 , 2008 , $ 22.8 billion of accumulated undistributed earnings of non-u.s . subsidiaries were indefinitely invested . at the existing u.s . federal income tax rate , additional taxes ( net of u.s . foreign tax credits ) of $ 6.1 billion would have to be provided if such earnings were remitted currently . the current year 2019s effect on the income tax expense from continuing operations is included in the foreign income tax rate differential line in the reconciliation of the federal statutory rate to the company 2019s effective income tax rate on the previous page . income taxes are not provided for on the company 2019s savings bank base year bad debt reserves that arose before 1988 because under current u.s . tax rules such taxes will become payable only to the extent such amounts are distributed in excess of limits prescribed by federal law . at december 31 , 2008 , the amount of the base year reserves totaled approximately $ 358 million ( subject to a tax of $ 125 million ) . the company has no valuation allowance on deferred tax assets at december 31 , 2008 and december 31 , 2007 . at december 31 , 2008 , the company had a u.s . foreign tax-credit carryforward of $ 10.5 billion , $ 0.4 billion whose expiry date is 2016 , $ 5.3 billion whose expiry date is 2017 and $ 4.8 billion whose expiry date is 2018 . the company has a u.s federal consolidated net operating loss ( nol ) carryforward of approximately $ 13 billion whose expiration date is 2028 . the company also has a general business credit carryforward of $ 0.6 billion whose expiration dates are 2027-2028 . the company has state and local net operating loss carryforwards of $ 16.2 billion and $ 4.9 billion in new york state and new york city , respectively . this consists of $ 2.4 billion and $ 1.2 billion , whose expiration date is 2027 and $ 13.8 billion and $ 3.7 billion whose expiration date is 2028 and for which the company has recorded a deferred-tax asset of $ 1.2 billion , along with less significant net operating losses in various other states for which the company has recorded a deferred-tax asset of $ 399 million and which expire between 2012 and 2028 . in addition , the company has recorded deferred-tax assets in apb 23 subsidiaries for foreign net operating loss carryforwards of $ 130 million ( which expires in 2018 ) and $ 101 million ( with no expiration ) . although realization is not assured , the company believes that the realization of the recognized net deferred tax asset of $ 44.5 billion is more likely than not based on expectations as to future taxable income in the jurisdictions in which it operates and available tax planning strategies , as defined in sfas 109 , that could be implemented if necessary to prevent a carryforward from expiring . the company 2019s net deferred tax asset ( dta ) of $ 44.5 billion consists of approximately $ 36.5 billion of net u.s . federal dtas , $ 4 billion of net state dtas and $ 4 billion of net foreign dtas . included in the net federal dta of $ 36.5 billion are deferred tax liabilities of $ 4 billion that will reverse in the relevant carryforward period and may be used to support the dta . the major components of the u.s . federal dta are $ 10.5 billion in foreign tax-credit carryforwards , $ 4.6 billion in a net-operating-loss carryforward , $ 0.6 billion in a general-business-credit carryforward , $ 19.9 billion in net deductions that have not yet been taken on a tax return , and $ 0.9 billion in compensation deductions , which reduced additional paid-in capital in january 2009 and for which sfas 123 ( r ) did not permit any adjustment to such dta at december 31 , 2008 because the related stock compensation was not yet deductible to the company . in general , citigroup would need to generate approximately $ 85 billion of taxable income during the respective carryforward periods to fully realize its federal , state and local dtas. .
Question: what percent of foreign pretax earnings in 2007 were from 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: |
0.012 | Context:10-k altria ar release tuesday , february 27 , 2018 10:00pm andra design llc the relative percentages of operating companies income ( loss ) attributable to each reportable segment and the all other category were as follows: .
||2017|2016|2015|
|smokeable products|85.8% ( 85.8 % )|86.2% ( 86.2 % )|87.4% ( 87.4 % )|
|smokeless products|13.2|13.1|12.8|
|wine|1.5|1.8|1.8|
|all other|-0.5 ( 0.5 )|-1.1 ( 1.1 )|-2.0 ( 2.0 )|
|total|100.0% ( 100.0 % )|100.0% ( 100.0 % )|100.0% ( 100.0 % )|
for items affecting the comparability of the relative percentages of operating companies income ( loss ) attributable to each reportable segment , see note 15 . narrative description of business portions of the information called for by this item are included in operating results by business segment in item 7 . management 2019s discussion and analysis of financial condition and results of operations of this annual report on form 10-k ( 201citem 7 201d ) . tobacco space altria group , inc . 2019s tobacco operating companies include pm usa , usstc and other subsidiaries of ust , middleton , nu mark and nat sherman . altria group distribution company provides sales and distribution services to altria group , inc . 2019s tobacco operating companies . the products of altria group , inc . 2019s tobacco subsidiaries include smokeable tobacco products , consisting of cigarettes manufactured and sold by pm usa and nat sherman , machine- made large cigars and pipe tobacco manufactured and sold by middleton and premium cigars sold by nat sherman ; smokeless tobacco products manufactured and sold by usstc ; and innovative tobacco products , including e-vapor products manufactured and sold by nu mark . cigarettes : pm usa is the largest cigarette company in the united states . marlboro , the principal cigarette brand of pm usa , has been the largest-selling cigarette brand in the united states for over 40 years . nat sherman sells substantially all of its super premium cigarettes in the united states . total smokeable products segment 2019s cigarettes shipment volume in the united states was 116.6 billion units in 2017 , a decrease of 5.1% ( 5.1 % ) from cigars : middleton is engaged in the manufacture and sale of machine-made large cigars and pipe tobacco . middleton contracts with a third-party importer to supply a majority of its cigars and sells substantially all of its cigars to customers in the united states . black & mild is the principal cigar brand of middleton . nat sherman sources all of its cigars from third-party suppliers and sells substantially all of its cigars to customers in the united states . total smokeable products segment 2019s cigars shipment volume was approximately 1.5 billion units in 2017 , an increase of 9.9% ( 9.9 % ) from 2016 . smokeless tobacco products : usstc is the leading producer and marketer of moist smokeless tobacco ( 201cmst 201d ) products . the smokeless products segment includes the premium brands , copenhagen and skoal , and value brands , red seal and husky . substantially all of the smokeless tobacco products are manufactured and sold to customers in the united states . total smokeless products segment 2019s shipment volume was 841.3 million units in 2017 , a decrease of 1.4% ( 1.4 % ) from 2016 . innovative tobacco products : nu mark participates in the e-vapor category and has developed and commercialized other innovative tobacco products . in addition , nu mark sources the production of its e-vapor products through overseas contract manufacturing arrangements . in 2013 , nu mark introduced markten e-vapor products . in april 2014 , nu mark acquired the e-vapor business of green smoke , inc . and its affiliates ( 201cgreen smoke 201d ) , which began selling e-vapor products in 2009 . in 2017 , altria group , inc . 2019s subsidiaries purchased certain intellectual property related to innovative tobacco products . in december 2013 , altria group , inc . 2019s subsidiaries entered into a series of agreements with philip morris international inc . ( 201cpmi 201d ) pursuant to which altria group , inc . 2019s subsidiaries provide an exclusive license to pmi to sell nu mark 2019s e-vapor products outside the united states , and pmi 2019s subsidiaries provide an exclusive license to altria group , inc . 2019s subsidiaries to sell two of pmi 2019s heated tobacco product platforms in the united states . further , in july 2015 , altria group , inc . announced the expansion of its strategic framework with pmi to include a joint research , development and technology-sharing agreement . under this agreement , altria group , inc . 2019s subsidiaries and pmi will collaborate to develop e-vapor products for commercialization in the united states by altria group , inc . 2019s subsidiaries and in markets outside the united states by pmi . this agreement also provides for exclusive technology cross licenses , technical information sharing and cooperation on scientific assessment , regulatory engagement and approval related to e-vapor products . in the fourth quarter of 2016 , pmi submitted a modified risk tobacco product ( 201cmrtp 201d ) application for an electronically heated tobacco product with the united states food and drug administration 2019s ( 201cfda 201d ) center for tobacco products and filed its corresponding pre-market tobacco product application in the first quarter of 2017 . upon regulatory authorization by the fda , altria group , inc . 2019s subsidiaries will have an exclusive license to sell this heated tobacco product in the united states . distribution , competition and raw materials : altria group , inc . 2019s tobacco subsidiaries sell their tobacco products principally to wholesalers ( including distributors ) , large retail organizations , including chain stores , and the armed services . the market for tobacco products is highly competitive , characterized by brand recognition and loyalty , with product quality , taste , price , product innovation , marketing , packaging and distribution constituting the significant methods of competition . promotional activities include , in certain instances and where permitted by law , allowances , the distribution of incentive items , price promotions , product promotions , coupons and other discounts. .
Question: what is the percent change in relative percentages of operating companies income ( loss ) attributable to smokeable products 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: |
0.061 | Context:vornado realty trust notes to consolidated financial statements ( continued ) 10 . redeemable noncontrolling interests - continued redeemable noncontrolling interests on our consolidated balance sheets are recorded at the greater of their carrying amount or redemption value at the end of each reporting period . changes in the value from period to period are charged to 201cadditional capital 201d in our consolidated statements of changes in equity . below is a table summarizing the activity of redeemable noncontrolling interests . ( amounts in thousands ) .
|balance at december 31 2009|$ 1251628|
|net income|55228|
|distributions|-53515 ( 53515 )|
|conversion of class a units into common shares at redemption value|-126764 ( 126764 )|
|adjustment to carry redeemable class a units at redemption value|191826|
|redemption of series d-12 redeemable units|-13000 ( 13000 )|
|other net|22571|
|balance at december 31 2010|1327974|
|net income|55912|
|distributions|-50865 ( 50865 )|
|conversion of class a units into common shares at redemption value|-64830 ( 64830 )|
|adjustment to carry redeemable class a units at redemption value|-98092 ( 98092 )|
|redemption of series d-11 redeemable units|-28000 ( 28000 )|
|other net|18578|
|balance at december 31 2011|$ 1160677|
redeemable noncontrolling interests exclude our series g convertible preferred units and series d-13 cumulative redeemable preferred units , as they are accounted for as liabilities in accordance with asc 480 , distinguishing liabilities and equity , because of their possible settlement by issuing a variable number of vornado common shares . accordingly , the fair value of these units is included as a component of 201cother liabilities 201d on our consolidated balance sheets and aggregated $ 54865000 and $ 55097000 as of december 31 , 2011 and 2010 , respectively. .
Question: what was the percentage change in the redeemable noncontrolling interests from 2009 to 2010 | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.71928 | Context:contractual obligations fis 2019 long-term contractual obligations generally include its long-term debt , interest on long-term debt , lease payments on certain of its property and equipment and payments for data processing and maintenance . for more descriptive information regarding the company's long-term debt , see note 13 in the notes to consolidated financial statements . the following table summarizes fis 2019 significant contractual obligations and commitments as of december 31 , 2012 ( in millions ) : less than 1-3 3-5 more than total 1 year years years 5 years .
||total|less than 1 year|1-3 years|3-5 years|more than 5 years|
|long-term debt|$ 4385.5|$ 153.9|$ 757.1|$ 2274.5|$ 1200.0|
|interest ( 1 )|1137.6|200.4|372.9|288.8|275.5|
|operating leases|226.6|55.0|96.2|46.4|29.0|
|data processing and maintenance|246.7|131.7|78.9|28.4|7.7|
|other contractual obligations ( 2 )|100.7|18.8|52.0|10.6|19.3|
|total|$ 6097.1|$ 559.8|$ 1357.1|$ 2648.7|$ 1531.5|
( 1 ) these calculations assume that : ( a ) applicable margins remain constant ; ( b ) all variable rate debt is priced at the one-month libor rate in effect as of december 31 , 2012 ; ( c ) no new hedging transactions are effected ; ( d ) only mandatory debt repayments are made ; and ( e ) no refinancing occurs at debt maturity . ( 2 ) amount includes the payment for labor claims related to fis' former item processing and remittance operations in brazil ( see note 3 to the consolidated financial statements ) and amounts due to the brazilian venture partner . fis believes that its existing cash balances , cash flows from operations and borrowing programs will provide adequate sources of liquidity and capital resources to meet fis 2019 expected short-term liquidity needs and its long-term needs for the operations of its business , expected capital spending for the next 12 months and the foreseeable future and the satisfaction of these obligations and commitments . off-balance sheet arrangements fis does not have any off-balance sheet arrangements . item 7a . quantitative and qualitative disclosure about market risks market risk we are exposed to market risks primarily from changes in interest rates and foreign currency exchange rates . we use certain derivative financial instruments , including interest rate swaps and foreign currency forward exchange contracts , to manage interest rate and foreign currency risk . we do not use derivatives for trading purposes , to generate income or to engage in speculative activity . interest rate risk in addition to existing cash balances and cash provided by operating activities , we use fixed rate and variable rate debt to finance our operations . we are exposed to interest rate risk on these debt obligations and related interest rate swaps . the notes ( as defined in note 13 to the consolidated financial statements ) represent substantially all of our fixed-rate long-term debt obligations . the carrying value of the notes was $ 1950.0 million as of december 31 , 2012 . the fair value of the notes was approximately $ 2138.2 million as of december 31 , 2012 . the potential reduction in fair value of the notes from a hypothetical 10 percent increase in market interest rates would not be material to the overall fair value of the debt . our floating rate long-term debt obligations principally relate to borrowings under the fis credit agreement ( as also defined in note 13 to the consolidated financial statements ) . an increase of 100 basis points in the libor rate would increase our annual debt service under the fis credit agreement , after we include the impact of our interest rate swaps , by $ 9.3 million ( based on principal amounts outstanding as of december 31 , 2012 ) . we performed the foregoing sensitivity analysis based on the principal amount of our floating rate debt as of december 31 , 2012 , less the principal amount of such debt that was then subject to an interest rate swap converting such debt into fixed rate debt . this sensitivity analysis is based solely on .
Question: what percent of total contractual obligations and commitments as of december 31 , 2012 are 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: |
yes | Context:the discount rate used to measure pension obligations is determined by comparing the expected future benefits that will be paid under the plan with yields available on high quality corporate bonds of similar duration . the impact on pension expense of a .5% ( .5 % ) decrease in discount rate in the current environment is an increase of $ 18 million per year . this sensitivity depends on the economic environment and amount of unrecognized actuarial gains or losses on the measurement date . the expected long-term return on assets assumption also has a significant effect on pension expense . the expected return on plan assets is a long-term assumption established by considering historical and anticipated returns of the asset classes invested in by the pension plan and the asset allocation policy currently in place . for purposes of setting and reviewing this assumption , 201clong term 201d refers to the period over which the plan 2019s projected benefit obligations will be disbursed . we review this assumption at each measurement date and adjust it if warranted . our selection process references certain historical data and the current environment , but primarily utilizes qualitative judgment regarding future return expectations . to evaluate the continued reasonableness of our assumption , we examine a variety of viewpoints and data . various studies have shown that portfolios comprised primarily of u.s . equity securities have historically returned approximately 9% ( 9 % ) annually over long periods of time , while u.s . debt securities have returned approximately 6% ( 6 % ) annually over long periods . application of these historical returns to the plan 2019s allocation ranges for equities and bonds produces a result between 6.50% ( 6.50 % ) and 7.25% ( 7.25 % ) and is one point of reference , among many other factors , that is taken into consideration . we also examine the plan 2019s actual historical returns over various periods and consider the current economic environment . recent experience is considered in our evaluation with appropriate consideration that , especially for short time periods , recent returns are not reliable indicators of future returns . while annual returns can vary significantly ( actual returns for 2014 , 2013 and 2012 were +6.50% ( +6.50 % ) , +15.48% ( +15.48 % ) , and +15.29% ( +15.29 % ) , respectively ) , the selected assumption represents our estimated long-term average prospective returns . acknowledging the potentially wide range for this assumption , we also annually examine the assumption used by other companies with similar pension investment strategies , so that we can ascertain whether our determinations markedly differ from others . in all cases , however , this data simply informs our process , which places the greatest emphasis on our qualitative judgment of future investment returns , given the conditions existing at each annual measurement date . taking into consideration all of these factors , the expected long-term return on plan assets for determining net periodic pension cost for 2014 was 7.00% ( 7.00 % ) , down from 7.50% ( 7.50 % ) for 2013 . after considering the views of both internal and external capital market advisors , particularly with regard to the effects of the recent economic environment on long-term prospective fixed income returns , we are reducing our expected long-term return on assets to 6.75% ( 6.75 % ) for determining pension cost for under current accounting rules , the difference between expected long-term returns and actual returns is accumulated and amortized to pension expense over future periods . each one percentage point difference in actual return compared with our expected return can cause expense in subsequent years to increase or decrease by up to $ 9 million as the impact is amortized into results of operations . we currently estimate pretax pension expense of $ 9 million in 2015 compared with pretax income of $ 7 million in 2014 . this year-over-year expected increase in expense reflects the effects of the lower expected return on asset assumption , improved mortality , and the lower discount rate required to be used in 2015 . these factors will be partially offset by the favorable impact of the increase in plan assets at december 31 , 2014 and the assumed return on a $ 200 million voluntary contribution to the plan made in february 2015 . the table below reflects the estimated effects on pension expense of certain changes in annual assumptions , using 2015 estimated expense as a baseline . table 26 : pension expense 2013 sensitivity analysis change in assumption ( a ) estimated increase/ ( decrease ) to 2015 pension expense ( in millions ) .
|change in assumption ( a )|estimatedincrease/ ( decrease ) to 2015pensionexpense ( in millions )|
|.5% ( .5 % ) decrease in discount rate|$ 18|
|.5% ( .5 % ) decrease in expected long-term return on assets|$ 22|
|.5% ( .5 % ) increase in compensation rate|$ 2|
( a ) the impact is the effect of changing the specified assumption while holding all other assumptions constant . our pension plan contribution requirements are not particularly sensitive to actuarial assumptions . investment performance has the most impact on contribution requirements and will drive the amount of required contributions in future years . also , current law , including the provisions of the pension protection act of 2006 , sets limits as to both minimum and maximum contributions to the plan . notwithstanding the voluntary contribution made in february 2015 noted above , we do not expect to be required to make any contributions to the plan during 2015 . we maintain other defined benefit plans that have a less significant effect on financial results , including various nonqualified supplemental retirement plans for certain employees , which are described more fully in note 13 employee benefit plans in the notes to consolidated financial statements in item 8 of this report . 66 the pnc financial services group , inc . 2013 form 10-k .
Question: for pension expense , does a .5% ( .5 % ) decrease in expected long-term return on assets have a greater impact than a .5% ( .5 % ) increase in compensation rate? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
153.80241 | Context:stock options 2005 stock and incentive plan in june 2005 , the stockholders of the company approved the 2005 stock and incentive plan ( the 2005 stock plan ) . upon adoption of the 2005 stock plan , issuance of options under the company 2019s existing 2000 stock plan ceased . additionally , in connection with the acquisition of solexa , the company assumed stock options granted under the 2005 solexa equity incentive plan ( the 2005 solexa equity plan ) . as of december 30 , 2007 , an aggregate of up to 13485619 shares of the company 2019s common stock were reserved for issuance under the 2005 stock plan and the 2005 solexa equity plan . the 2005 stock plan provides for an automatic annual increase in the shares reserved for issuance by the lesser of 5% ( 5 % ) of outstanding shares of the company 2019s common stock on the last day of the immediately preceding fiscal year , 1200000 shares or such lesser amount as determined by the company 2019s board of directors . as of december 30 , 2007 , options to purchase 1834384 shares remained available for future grant under the 2005 stock plan and 2005 solexa equity plan . the company 2019s stock option activity under all stock option plans from january 2 , 2005 through december 30 , 2007 is as follows : options weighted- average exercise price .
||options|weighted- average exercise price|
|outstanding at january 2 2005|6205020|$ 6.99|
|granted|2992300|$ 10.02|
|exercised|-869925 ( 869925 )|$ 4.66|
|cancelled|-1001964 ( 1001964 )|$ 11.00|
|outstanding at january 1 2006|7325431|$ 7.96|
|granted|2621050|$ 27.24|
|exercised|-1273119 ( 1273119 )|$ 7.28|
|cancelled|-314242 ( 314242 )|$ 12.44|
|outstanding at december 31 2006|8359120|$ 13.94|
|options assumed through business combination|1424332|$ 21.37|
|granted|3784508|$ 40.64|
|exercised|-2179286 ( 2179286 )|$ 12.06|
|cancelled|-964740 ( 964740 )|$ 22.38|
|outstanding at december 30 2007|10423934|$ 24.26|
illumina , inc . notes to consolidated financial statements 2014 ( continued ) .
Question: what is the total value of granted options in 2007 , in millions? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
4.16667 | Context:the following is a reconciliation of the total amounts of unrecognized tax benefits for the year : ( in thousands ) .
|unrecognized tax benefit 2014january 1 2008|$ 7928|
|ansoft unrecognized tax benefit 2014acquired july 31 2008|3525|
|gross increases 2014tax positions in prior period|2454|
|gross decreases 2014tax positions in prior period|-1572 ( 1572 )|
|gross increases 2014tax positions in current period|2255|
|reductions due to a lapse of the applicable statute of limitations|-1598 ( 1598 )|
|changes due to currency fluctuation|-259 ( 259 )|
|settlements|-317 ( 317 )|
|unrecognized tax benefit 2014december 31 2008|$ 12416|
included in the balance of unrecognized tax benefits at december 31 , 2008 are $ 5.6 million of tax benefits that , if recognized , would affect the effective tax rate . also included in the balance of unrecognized tax benefits at december 31 , 2008 are $ 5.0 million of tax benefits that , if recognized , would result in a decrease to goodwill recorded in purchase business combinations , and $ 1.9 million of tax benefits that , if recognized , would result in adjustments to other tax accounts , primarily deferred taxes . the company believes it is reasonably possible that uncertain tax positions of approximately $ 2.6 million as of december 31 , 2008 will be resolved within the next twelve months . the company recognizes interest and penalties related to unrecognized tax benefits as income tax expense . related to the uncertain tax benefits noted above , the company recorded interest of $ 171000 during 2008 . penalties recorded during 2008 were insignificant . in total , as of december 31 , 2008 , the company has recognized a liability for penalties of $ 498000 and interest of $ 1.8 million . the company is subject to taxation in the u.s . and various states and foreign jurisdictions . the company 2019s 2005 through 2008 tax years are open to examination by the internal revenue service . the 2005 and 2006 federal returns are currently under examination . the company also has various foreign subsidiaries with tax filings under examination , as well as numerous foreign and state tax filings subject to examination for various years . 10 . pension and profit-sharing plans the company has 401 ( k ) /profit-sharing plans for all qualifying full-time domestic employees that permit participants to make contributions by salary reduction pursuant to section 401 ( k ) of the internal revenue code . the company makes matching contributions on behalf of each eligible participant in an amount equal to 100% ( 100 % ) of the first 3% ( 3 % ) and an additional 25% ( 25 % ) of the next 5% ( 5 % ) , for a maximum total of 4.25% ( 4.25 % ) of the employee 2019s compensation . the company may make a discretionary profit sharing contribution in the amount of 0% ( 0 % ) to 5% ( 5 % ) based on the participant 2019s eligible compensation , provided the employee is employed at the end of the year and has worked at least 1000 hours . the qualifying domestic employees of the company 2019s ansoft subsidiary , acquired on july 31 , 2008 , also participate in a 401 ( k ) plan . there is no matching employer contribution associated with this plan . the company also maintains various defined contribution pension arrangements for its international employees . expenses related to the company 2019s retirement programs were $ 3.7 million in 2008 , $ 4.7 million in 2007 and $ 4.1 million in 2006 . 11 . non-compete and employment agreements employees of the company have signed agreements under which they have agreed not to disclose trade secrets or confidential information and , where legally permitted , that restrict engagement in or connection with any business that is competitive with the company anywhere in the world while employed by the company ( and .
Question: what was the average expenses related to the company 2019s retirement programs from 2006 to 2008 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: |
0.10329 | Context:results of operations year ended december 31 , 2006 compared to year ended december 31 , 2005 the historical results of operations of pca for the years ended december 31 , 2006 and 2005 are set forth below : for the year ended december 31 , ( in millions ) 2006 2005 change .
|( in millions )|for the year ended december 31 , 2006|for the year ended december 31 , 2005|change|
|net sales|$ 2187.1|$ 1993.7|$ 193.4|
|income from operations|$ 225.9|$ 116.1|$ 109.8|
|interest expense net|-31.2 ( 31.2 )|-28.1 ( 28.1 )|-3.1 ( 3.1 )|
|income before taxes|194.7|88.0|106.7|
|provision for income taxes|-69.7 ( 69.7 )|-35.4 ( 35.4 )|-34.3 ( 34.3 )|
|net income|$ 125.0|$ 52.6|$ 72.4|
net sales net sales increased by $ 193.4 million , or 9.7% ( 9.7 % ) , for the year ended december 31 , 2006 from the year ended december 31 , 2005 . net sales increased primarily due to increased sales prices and volumes of corrugated products and containerboard compared to 2005 . total corrugated products volume sold increased 0.4% ( 0.4 % ) to 31.3 billion square feet in 2006 compared to 31.2 billion square feet in 2005 . on a comparable shipment-per-workday basis , corrugated products sales volume increased 0.8% ( 0.8 % ) in 2006 from 2005 . shipments-per-workday is calculated by dividing our total corrugated products volume during the year by the number of workdays within the year . the larger percentage increase on a shipment-per-workday basis was due to the fact that 2006 had one less workday ( 249 days ) , those days not falling on a weekend or holiday , than 2005 ( 250 days ) . containerboard sales volume to external domestic and export customers increased 15.6% ( 15.6 % ) to 482000 tons for the year ended december 31 , 2006 from 417000 tons in 2005 . income from operations income from operations increased by $ 109.8 million , or 94.6% ( 94.6 % ) , for the year ended december 31 , 2006 compared to 2005 . included in income from operations for the year ended december 31 , 2005 is income of $ 14.0 million , net of expenses , consisting of two dividends paid to pca by southern timber venture , llc ( stv ) , the timberlands joint venture in which pca owns a 311 20443% ( 20443 % ) ownership interest . excluding the dividends from stv , income from operations increased $ 123.8 million in 2006 compared to 2005 . the $ 123.8 million increase in income from operations was primarily attributable to higher sales prices and volume as well as improved mix of business ( $ 195.6 million ) , partially offset by increased costs related to transportation ( $ 18.9 million ) , energy , primarily purchased fuels and electricity ( $ 18.3 million ) , wage increases for hourly and salaried personnel ( $ 16.9 million ) , medical , pension and other benefit costs ( $ 9.9 million ) , and incentive compensation ( $ 6.5 million ) . gross profit increased $ 137.1 million , or 44.7% ( 44.7 % ) , for the year ended december 31 , 2006 from the year ended december 31 , 2005 . gross profit as a percentage of net sales increased from 15.4% ( 15.4 % ) of net sales in 2005 to 20.3% ( 20.3 % ) of net sales in the current year primarily due to the increased sales prices described previously . selling and administrative expenses increased $ 12.3 million , or 8.4% ( 8.4 % ) , for the year ended december 31 , 2006 from the comparable period in 2005 . the increase was primarily the result of increased salary and .
Question: what was the operating income margin for 2006? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.02047 | Context:n o t e s t o c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s ( c o n t i n u e d ) the realization of this investment gain ( $ 5624 net of the award ) . this award , which will be paid out over a three-year period , is presented as deferred compensation award on the balance sheet . as of december 31 , 2002 , $ 1504 had been paid against this compensation award . 401 ( k ) plan during august 1997 , the company implemented a 401 ( k ) savings/retirement plan ( the 201c401 ( k ) plan 201d ) to cover eligible employees of the company and any designated affiliate . the 401 ( k ) plan permits eligible employees of the company to defer up to 15% ( 15 % ) of their annual compensation , subject to cer- tain limitations imposed by the code . the employees 2019 elec- tive deferrals are immediately vested and non-forfeitable upon contribution to the 401 ( k ) plan . during 2000 , the company amended its 401 ( k ) plan to include a matching contribution , subject to erisa limitations , equal to 50% ( 50 % ) of the first 4% ( 4 % ) of annual compensation deferred by an employee . for the years ended december 31 , 2002 , 2001 and 2000 , the company made matching contributions of $ 140 , $ 116 and $ 54 , respectively . 18 . commitments and contingencies the company and the operating partnership are not presently involved in any material litigation nor , to their knowledge , is any material litigation threatened against them or their properties , other than routine litigation arising in the ordinary course of business . management believes the costs , if any , incurred by the company and the operating partnership related to this litigation will not materially affect the financial position , operating results or liquidity of the company and the operating partnership . on october 24 , 2001 , an accident occurred at 215 park avenue south , a property which the company manages , but does not own . personal injury claims have been filed against the company and others by 11 persons . the company believes that there is sufficient insurance coverage to cover the cost of such claims , as well as any other personal injury or property claims which may arise . the company has entered into employment agreements with certain executives . six executives have employment agreements which expire between november 2003 and december 2007 . the cash based compensation associated with these employment agreements totals approximately $ 2125 for 2003 . during march 1998 , the company acquired an operating sub-leasehold position at 420 lexington avenue . the oper- ating sub-leasehold position requires annual ground lease payments totaling $ 6000 and sub-leasehold position pay- ments totaling $ 1100 ( excluding an operating sub-lease position purchased january 1999 ) . the ground lease and sub-leasehold positions expire 2008 . the company may extend the positions through 2029 at market rents . the property located at 1140 avenue of the americas operates under a net ground lease ( $ 348 annually ) with a term expiration date of 2016 and with an option to renew for an additional 50 years . the property located at 711 third avenue operates under an operating sub-lease which expires in 2083 . under the sub- lease , the company is responsible for ground rent payments of $ 1600 annually which increased to $ 3100 in july 2001 and will continue for the next ten years . the ground rent is reset after year ten based on the estimated fair market value of the property . in april 1988 , the sl green predecessor entered into a lease agreement for property at 673 first avenue in new york city , which has been capitalized for financial statement purposes . land was estimated to be approximately 70% ( 70 % ) of the fair market value of the property . the portion of the lease attributed to land is classified as an operating lease and the remainder as a capital lease . the initial lease term is 49 years with an option for an additional 26 years . beginning in lease years 11 and 25 , the lessor is entitled to additional rent as defined by the lease agreement . the company continues to lease the 673 first avenue prop- erty which has been classified as a capital lease with a cost basis of $ 12208 and cumulative amortization of $ 3579 and $ 3306 at december 31 , 2002 and 2001 , respectively . the fol- lowing is a schedule of future minimum lease payments under capital leases and noncancellable operating leases with initial terms in excess of one year as of december 31 , 2002 . non-cancellable operating december 31 , capital leases leases .
|december 31,|capital leases|non-cancellable operating leases|
|2003|$ 1290|$ 11982|
|2004|1290|11982|
|2005|1290|11982|
|2006|1322|11982|
|2007|1416|11982|
|thereafter|56406|296277|
|total minimum lease payments|63014|356187|
|less amount representing interest|47152|2014|
|present value of net minimum lease payments|$ 15862|$ 356187|
19 . financial instruments : derivatives and hedging financial accounting standards board 2019s statement no . 133 , 201caccounting for derivative instruments and hedging activities , 201d ( 201csfas 133 201d ) which became effective january 1 , 2001 requires the company to recognize all derivatives on the balance sheet at fair value . derivatives that are not hedges must be adjusted to fair value through income . if a derivative is a hedge , depending on the nature of the hedge , f i f t y - t w o s l g r e e n r e a l t y c o r p . .
Question: what percent of the capital lease payments are due in 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: |
19.0 | Context:entergy mississippi , inc . management 2019s financial discussion and analysis entergy mississippi 2019s receivables from or ( payables to ) the money pool were as follows as of december 31 for each of the following years. .
|2016|2015|2014|2013|
|( in thousands )|( in thousands )|( in thousands )|( in thousands )|
|$ 10595|$ 25930|$ 644|( $ 3536 )|
see note 4 to the financial statements for a description of the money pool . entergy mississippi has four separate credit facilities in the aggregate amount of $ 102.5 million scheduled to expire may 2017 . no borrowings were outstanding under the credit facilities as of december 31 , 2016 . in addition , entergy mississippi is a party to an uncommitted letter of credit facility as a means to post collateral to support its obligations under miso . as of december 31 , 2016 , a $ 7.1 million letter of credit was outstanding under entergy mississippi 2019s uncommitted letter of credit facility . see note 4 to the financial statements for additional discussion of the credit facilities . entergy mississippi obtained authorizations from the ferc through october 2017 for short-term borrowings not to exceed an aggregate amount of $ 175 million at any time outstanding and long-term borrowings and security issuances . see note 4 to the financial statements for further discussion of entergy mississippi 2019s short-term borrowing limits . state and local rate regulation and fuel-cost recovery 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 june 2014 , entergy mississippi filed its first general rate case before the mpsc in almost 12 years . the rate filing laid out entergy mississippi 2019s plans for improving reliability , modernizing the grid , maintaining its workforce , stabilizing rates , utilizing new technologies , and attracting new industry to its service territory . entergy mississippi requested a net increase in revenue of $ 49 million for bills rendered during calendar year 2015 , including $ 30 million resulting from new depreciation rates to update the estimated service life of assets . in addition , the filing proposed , among other things : 1 ) realigning cost recovery of the attala and hinds power plant acquisitions from the power management rider to base rates ; 2 ) including certain miso-related revenues and expenses in the power management rider ; 3 ) power management rider changes that reflect the changes in costs and revenues that will accompany entergy mississippi 2019s withdrawal from participation in the system agreement ; and 4 ) a formula rate plan forward test year to allow for known changes in expenses and revenues for the rate effective period . entergy mississippi proposed maintaining the current authorized return on common equity of 10.59% ( 10.59 % ) . in october 2014 , entergy mississippi and the mississippi public utilities staff entered into and filed joint stipulations that addressed the majority of issues in the proceeding . the stipulations provided for : 2022 an approximate $ 16 million net increase in revenues , which reflected an agreed upon 10.07% ( 10.07 % ) return on common equity ; 2022 revision of entergy mississippi 2019s formula rate plan by providing entergy mississippi with the ability to reflect known and measurable changes to historical rate base and certain expense amounts ; resolving uncertainty around and obviating the need for an additional rate filing in connection with entergy mississippi 2019s withdrawal from participation in the system agreement ; updating depreciation rates ; and moving costs associated with the attala and hinds generating plants from the power management rider to base rates; .
Question: the company requested a net increase in revenue for bills rendered during calendar year 2015 . what would the increase have been , in millions , without the amount reflating to the new depreciation rates? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
9500.0 | Context:related employer payroll tax costs ) . the contributions of these amounts are due by march 15 of the calendar year following the year in which the company realizes the benefits of the deductions . this arrangement has been accounted for as contingent consideration . pre-2009 business combinations were accounted for under a former accounting standard which , among other aspects , precluded the recognition of certain contingent consideration as of the business combination date . instead , under the former accounting standard , contingent consideration is accounted for as additional purchase price ( goodwill ) at the time the contingency is resolved . as of december 31 , 2013 , the company accrued $ 20.9 million related to this arrangement within other current liabilities , as the company realized the tax benefit of the compensation deductions during the 2013 tax year . the company made the related cash contribution during the first quarter of 2014 . 11 . earnings per share the numerator for both basic and diluted earnings per share is net income . the denominator for basic earnings per share is the weighted-average number of common shares outstanding during the period . the 2013 denominator was impacted by the common shares issued during both the ipo and the underwriters' exercise in full of the overallotment option granted to them in connection with the ipo . because such common shares were issued on july 2 , 2013 and july 31 , 2013 , respectively , they are only partially reflected in the 2013 denominator . such shares are fully reflected in the 2014 denominator . see note 9 for additional discussion of the ipo . the dilutive effect of outstanding restricted stock , restricted stock units , stock options , coworker stock purchase plan units and mpk plan units is reflected in the denominator for diluted earnings per share using the treasury stock method . the following is a reconciliation of basic shares to diluted shares: .
|( in millions )|years ended december 31 , 2014|years ended december 31 , 2013|years ended december 31 , 2012|
|weighted-average shares - basic|170.6|156.6|145.1|
|effect of dilutive securities|2.2|2.1|0.7|
|weighted-average shares - diluted|172.8|158.7|145.8|
there was an insignificant amount of potential common shares excluded from diluted earnings per share for the years ended december 31 , 2014 , 2013 and 2012 , as their inclusion would have had an anti-dilutive effect . 12 . deferred compensation plan on march 10 , 2010 , in connection with the company 2019s purchase of $ 28.5 million principal amount of its outstanding senior subordinated debt , the company established the restricted debt unit plan ( the 201crdu plan 201d ) , an unfunded nonqualified deferred compensation plan . the total number of rdus that could be granted under the rdu plan was 28500 . as of december 31 , 2014 , 28500 rdus were outstanding . rdus vested daily on a pro rata basis over the three-year period from january 1 , 2012 ( or , if later , the date of hire or the date of a subsequent rdu grant ) through december 31 , 2014 . all outstanding rdus were vested as of december 31 , 2014 . participants have no rights to the underlying debt . the total amount of compensation available to be paid under the rdu plan was initially to be based on two components , a principal component and an interest component . the principal component credits the rdu plan with a notional amount equal to the $ 28.5 million face value of the senior subordinated notes ( the "debt pool" ) , together with certain redemption premium equivalents as noted below . the interest component credited the rdu plan with amounts equal to the interest that would have been earned on the debt pool from march 10 , 2010 through maturity on october 12 , 2017 , except as discussed below . interest amounts for 2010 and 2011 were deferred until 2012 , and thereafter , interest amounts were paid to participants semi-annually on the interest payment due dates . the company used a portion of the ipo proceeds together with incremental borrowings to redeem $ 324.0 million of the total senior subordinated notes outstanding on august 1 , 2013 . in connection with the ipo and the partial redemption of the senior subordinated notes , the company amended the rdu plan to increase the retentive value of the plan . in accordance with the original terms of the rdu plan , the principal component of the rdus converted to a cash-denominated pool upon the redemption of the senior subordinated notes . in addition , the company added $ 0.1 table of contents cdw corporation and subsidiaries notes to consolidated financial statements .
Question: for rdus vested daily on a pro rata basis over the three-year period from january 1 , 2012 , what was the average rdus vesting each year through december 31 , 2014?\\n\\n[13] : as of december 31 , 2014 , 28500 rdus were outstanding . | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-20.6 | Context:entergy gulf states , inc . management's financial discussion and analysis .
||( in millions )|
|2002 net revenue|$ 1130.7|
|volume/weather|17.8|
|fuel write-offs in 2002|15.3|
|net wholesale revenue|10.2|
|base rate decreases|-23.3 ( 23.3 )|
|nisco gain recognized in 2002|-15.2 ( 15.2 )|
|rate refund provisions|-11.3 ( 11.3 )|
|other|-14.1 ( 14.1 )|
|2003 net revenue|$ 1110.1|
the volume/weather variance was due to higher electric sales volume in the service territory . billed usage increased a total of 517 gwh in the residential and commercial sectors . the increase was partially offset by a decrease in industrial usage of 470 gwh due to the loss of two large industrial customers to cogeneration . the customers accounted for approximately 1% ( 1 % ) of entergy gulf states' net revenue in 2002 . in 2002 , deferred fuel costs of $ 8.9 million related to a texas fuel reconciliation case were written off and $ 6.5 million in expense resulted from an adjustment in the deregulated asset plan percentage as the result of a power uprate at river bend . the increase in net wholesale revenue was primarily due to an increase in sales volume to municipal and co- op customers and also to affiliated systems related to entergy's generation resource planning . the base rate decreases were effective june 2002 and january 2003 , both in the louisiana jurisdiction . the january 2003 base rate decrease of $ 22.1 million had a minimal impact on net income due to a corresponding reduction in nuclear depreciation and decommissioning expenses associated with the change in accounting to reflect an assumed extension of river bend's useful life . in 2002 , a gain of $ 15.2 million was recognized for the louisiana portion of the 1988 nelson units 1 and 2 sale . entergy gulf states received approval from the lpsc to discontinue applying amortization of the gain against recoverable fuel , resulting in the recognition of the deferred gain in income . rate refund provisions caused a decrease in net revenue due to additional provisions recorded in 2003 compared to 2002 for potential rate actions and refunds . gross operating revenues and fuel and purchased power expenses gross operating revenues increased primarily due to an increase of $ 440.2 million in fuel cost recovery revenues as a result of higher fuel rates in both the louisiana and texas jurisdictions . fuel and purchased power expenses increased $ 471.1 million due to an increase in the market prices of natural gas and purchased power . other income statement variances 2004 compared to 2003 other operation and maintenance expenses decreased primarily due to : 2022 voluntary severance program accruals of $ 22.5 million in 2003 ; and 2022 a decrease of $ 4.3 million in nuclear material and labor costs due to reduced staff in 2004. .
Question: what is the net change in net revenue during 2003 for entergy gulf states , inc.? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
719.6 | Context:page 74 notes to five year summary ( a ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments ( see the section , 201cresults of operations 201d in management 2019s discussion and analysis of financial condition and results of operations ( md&a ) ) which , on a combined basis , increased earnings from continuing operations before income taxes by $ 173 million , $ 113 million after tax ( $ 0.25 per share ) . ( b ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments ( see the section , 201cresults of operations 201d in md&a ) which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 215 million , $ 154 million after tax ( $ 0.34 per share ) . also includes a reduction in income tax expense resulting from the closure of an internal revenue service examination of $ 144 million ( $ 0.32 per share ) . these items reduced earnings by $ 10 million after tax ( $ 0.02 per share ) . ( c ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments ( see the section , 201cresults of operations 201d in md&a ) which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 153 million , $ 102 million after tax ( $ 0.22 per share ) . ( d ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 1112 million , $ 632 million after tax ( $ 1.40 per share ) . in 2002 , the corporation adopted fas 142 which prohibits the amortization of goodwill . ( e ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 973 million , $ 651 million after tax ( $ 1.50 per share ) . also includes a gain from the disposal of a business and charges for the corporation 2019s exit from its global telecommunications services business which is included in discontinued operations and which , on a combined basis , increased the net loss by $ 1 billion ( $ 2.38 per share ) . ( f ) the corporation defines return on invested capital ( roic ) as net income plus after-tax interest expense divided by average invested capital ( stockholders 2019 equity plus debt ) , after adjusting stockholders 2019 equity by adding back the minimum pension liability . the adjustment to add back the minimum pension liability is a revision to our calculation in 2005 , which the corporation believes more closely links roic to management performance . further , the corporation believes that reporting roic provides investors with greater visibility into how effectively lockheed martin uses the capital invested in its operations . the corporation uses roic to evaluate multi-year investment decisions and as a long-term performance measure , and also uses roic as a factor in evaluating management performance under certain incentive compensation plans . roic is not a measure of financial performance under gaap , and may not be defined and calculated by other companies in the same manner . roic should not be considered in isola- tion or as an alternative to net earnings as an indicator of performance . the following calculations of roic reflect the revision to the calculation discussed above for all periods presented . ( in millions ) 2005 2004 2003 2002 2001 .
|( in millions )|2005|2004|2003|2002|2001|
|net earnings|$ 1825|$ 1266|$ 1053|$ 500|$ -1046 ( 1046 )|
|interest expense ( multiplied by 65% ( 65 % ) ) 1|241|276|317|378|455|
|return|$ 2066|$ 1542|$ 1370|$ 878|$ -591 ( 591 )|
|average debt2 5|$ 5077|$ 5932|$ 6612|$ 7491|$ 8782|
|average equity3 5|7590|7015|6170|6853|7221|
|average minimum pension liability3 4 5|1545|1296|1504|341|6|
|average invested capital|$ 14212|$ 14243|$ 14286|$ 14685|$ 16009|
|return on invested capital|14.5% ( 14.5 % )|10.8% ( 10.8 % )|9.6% ( 9.6 % )|6.0% ( 6.0 % )|( 3.7 ) % ( % )|
1 represents after-tax interest expense utilizing the federal statutory rate of 35% ( 35 % ) . 2 debt consists of long-term debt , including current maturities , and short-term borrowings ( if any ) . 3 equity includes non-cash adjustments for other comprehensive losses , primarily for the additional minimum pension liability . 4 minimum pension liability values reflect the cumulative value of entries identified in our statement of stockholders equity under the caption 201cminimum pension liability . 201d the annual minimum pension liability adjustments to equity were : 2001 = ( $ 33 million ) ; 2002 = ( $ 1537 million ) ; 2003 = $ 331 million ; 2004 = ( $ 285 million ) ; 2005 = ( $ 105 million ) . as these entries are recorded in the fourth quarter , the value added back to our average equity in a given year is the cumulative impact of all prior year entries plus 20% ( 20 % ) of the cur- rent year entry value . 5 yearly averages are calculated using balances at the start of the year and at the end of each quarter . lockheed martin corporation .
Question: what was the average net earnings in millions from 2001 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: |
0.50271 | Context:in 2016 , arconic also recognized discrete income tax benefits related to the release of valuation allowances on certain net deferred tax assets in russia and canada of $ 19 and $ 20 respectively . after weighing all available evidence , management determined that it was more likely than not that the net income tax benefits associated with the underlying deferred tax assets would be realizable based on historic cumulative income and projected taxable income . arconic also recorded additional valuation allowances in australia of $ 93 related to the separation transaction , in spain of $ 163 related to a tax law change and in luxembourg of $ 280 related to the separation transaction as well as a tax law change . these valuation allowances fully offset current year changes in deferred tax asset balances of each respective jurisdiction , resulting in no net impact to tax expense . the need for a valuation allowance will be reassessed on a continuous basis in future periods by each jurisdiction and , as a result , the allowances may increase or decrease based on changes in facts and circumstances . in 2015 , arconic recognized an additional $ 141 discrete income tax charge for valuation allowances on certain deferred tax assets in iceland and suriname . of this amount , an $ 85 valuation allowance was established on the full value of the deferred tax assets in suriname , which were related mostly to employee benefits and tax loss carryforwards . these deferred tax assets have an expiration period ranging from 2016 to 2022 ( as of december 31 , 2015 ) . the remaining $ 56 charge relates to a valuation allowance established on a portion of the deferred tax assets recorded in iceland . these deferred tax assets have an expiration period ranging from 2017 to 2023 . after weighing all available positive and negative evidence , as described above , management determined that it was no longer more likely than not that arconic will realize the tax benefit of either of these deferred tax assets . this was mainly driven by a decline in the outlook of the primary metals business , combined with prior year cumulative losses and a short expiration period . in december 2011 , one of arconic 2019s former subsidiaries in brazil applied for a tax holiday related to its expanded mining and refining operations . during 2013 , the application was amended and re-filed and , separately , a similar application was filed for another one of arconic 2019s former subsidiaries in brazil . the deadline for the brazilian government to deny the application was july 11 , 2014 . since arconic did not receive notice that its applications were denied , the tax holiday took effect automatically on july 12 , 2014 . as a result , the tax rate applicable to qualified holiday income for these subsidiaries decreased significantly ( from 34% ( 34 % ) to 15.25% ( 15.25 % ) ) , resulting in future cash tax savings over the 10-year holiday period ( retroactively effective as of january 1 , 2013 ) . additionally , a portion of one of the subsidiaries net deferred tax assets that reverses within the holiday period was remeasured at the new tax rate ( the net deferred tax asset of the other subsidiary was not remeasured since it could still be utilized against the subsidiary 2019s future earnings not subject to the tax holiday ) . this remeasurement resulted in a decrease to that subsidiary 2019s net deferred tax assets and a noncash charge to earnings of $ 52 ( $ 31 after noncontrolling interests ) . the following table details the changes in the valuation allowance: .
|december 31,|2016|2015|2014|
|balance at beginning of year|$ 1291|$ 1151|$ 1252|
|increase to allowance|772|180|102|
|release of allowance|-209 ( 209 )|-42 ( 42 )|-70 ( 70 )|
|acquisitions and divestitures ( f )|-1 ( 1 )|29|-36 ( 36 )|
|tax apportionment tax rate and tax law changes|106|-15 ( 15 )|-67 ( 67 )|
|foreign currency translation|-19 ( 19 )|-12 ( 12 )|-30 ( 30 )|
|balance at end of year|$ 1940|$ 1291|$ 1151|
the cumulative amount of arconic 2019s foreign undistributed net earnings for which no deferred taxes have been provided was approximately $ 450 at december 31 , 2016 . arconic has a number of commitments and obligations related to the company 2019s growth strategy in foreign jurisdictions . as such , management has no plans to distribute such earnings in the foreseeable future , and , therefore , has determined it is not practicable to determine the related deferred tax liability. .
Question: what was the increase in the balance at end of the year 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: |
0.20116 | Context:the goldman sachs group , inc . and subsidiaries item 9 . changes in and disagreements with accountants on accounting and financial disclosure there were no changes in or disagreements with accountants on accounting and financial disclosure during the last two years . item 9a . controls and procedures as of the end of the period covered by this report , an evaluation was carried out by goldman sachs 2019 management , with the participation of our chief executive officer and chief financial officer , of the effectiveness of our disclosure controls and procedures ( as defined in rule 13a-15 ( e ) under the exchange act ) . based upon that evaluation , our chief executive officer and chief financial officer concluded that these disclosure controls and procedures were effective as of the end of the period covered by this report . in addition , no change in our internal control over financial reporting ( as defined in rule 13a-15 ( f ) under the exchange act ) occurred during the fourth quarter of our year ended december 31 , 2018 that has materially affected , or is reasonably likely to materially affect , our internal control over financial reporting . management 2019s report on internal control over financial reporting and the report of independent registered public accounting firm are set forth in part ii , item 8 of this form 10-k . item 9b . other information not applicable . part iii item 10 . directors , executive officers and corporate governance information relating to our executive officers is included on page 20 of this form 10-k . information relating to our directors , including our audit committee and audit committee financial experts and the procedures by which shareholders can recommend director nominees , and our executive officers will be in our definitive proxy statement for our 2019 annual meeting of shareholders , which will be filed within 120 days of the end of 2018 ( 2019 proxy statement ) and is incorporated in this form 10-k by reference . information relating to our code of business conduct and ethics , which applies to our senior financial officers , is included in 201cbusiness 2014 available information 201d in part i , item 1 of this form 10-k . item 11 . executive compensation information relating to our executive officer and director compensation and the compensation committee of the board will be in the 2019 proxy statement and is incorporated in this form 10-k by reference . item 12 . security ownership of certain beneficial owners and management and related stockholder matters information relating to security ownership of certain beneficial owners of our common stock and information relating to the security ownership of our management will be in the 2019 proxy statement and is incorporated in this form 10-k by reference . the table below presents information as of december 31 , 2018 regarding securities to be issued pursuant to outstanding restricted stock units ( rsus ) and securities remaining available for issuance under our equity compensation plans that were in effect during 2018 . plan category securities to be issued exercise of outstanding options and rights ( a ) weighted average exercise price of outstanding options ( b ) securities available for future issuance under equity compensation plans ( c ) equity compensation plans approved by security holders 17176475 n/a 68211649 equity compensation plans not approved by security holders 2013 2013 2013 .
|plan category|securities to be issued upon exercise of outstanding options and rights ( a )|weighted average exercise price of outstanding options ( b )|securities available for future issuance under equity compensation plans ( c )|
|equity compensation plans approved by security holders|17176475|n/a|68211649|
|equity compensation plans not approved by securityholders|2013|2013|2013|
|total|17176475||68211649|
in the table above : 2030 securities to be issued upon exercise of outstanding options and rights includes 17176475 shares that may be issued pursuant to outstanding rsus . these awards are subject to vesting and other conditions to the extent set forth in the respective award agreements , and the underlying shares will be delivered net of any required tax withholding . as of december 31 , 2018 , there were no outstanding options . 2030 shares underlying rsus are deliverable without the payment of any consideration , and therefore these awards have not been taken into account in calculating the weighted average exercise price . 196 goldman sachs 2018 form 10-k .
Question: what portion of the securities approved by security holders is to be issued upon exercise of outstanding options and rights? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.14926 | Context:american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) 19 . subsequent events 12.25% ( 12.25 % ) senior subordinated discount notes and warrants offering 2014in january 2003 , the company issued 808000 units , each consisting of ( 1 ) $ 1000 principal amount at maturity of the 12.25% ( 12.25 % ) senior subordinated discount notes due 2008 of a wholly owned subsidiary of the company ( ati notes ) and ( 2 ) a warrant to purchase 14.0953 shares of class a common stock of the company , for gross proceeds of $ 420.0 million . the gross offering proceeds were allocated between the ati notes ( $ 367.4 million ) and the fair value of the warrants ( $ 52.6 million ) . net proceeds from the offering aggregated approximately $ 397.0 million and were or will be used for the purposes described below under amended and restated loan agreement . the ati notes accrue no cash interest . instead , the accreted value of each ati note will increase between the date of original issuance and maturity ( august 1 , 2008 ) at a rate of 12.25% ( 12.25 % ) per annum . the 808000 warrants that were issued together with the ati notes each represent the right to purchase 14.0953 shares of class a common stock at $ 0.01 per share . the warrants are exercisable at any time on or after january 29 , 2006 and will expire on august 1 , 2008 . as of the issuance date , the warrants represented approximately 5.5% ( 5.5 % ) of the company 2019s outstanding common stock ( assuming exercise of all warrants ) . the indenture governing the ati notes contains covenants that , among other things , limit the ability of the issuer subsidiary and its guarantors to incur or guarantee additional indebtedness , create liens , pay dividends or make other equity distributions , enter into agreements restricting the restricted subsidiaries 2019 ability to pay dividends , purchase or redeem capital stock , make investments and sell assets or consolidate or merge with or into other companies . the ati notes rank junior in right of payment to all existing and future senior indebtedness , including all indebtedness outstanding under the credit facilities , and are structurally senior in right of payment to all existing and future indebtedness of the company . amended and restated loan agreement 2014on february 21 , 2003 , the company completed an amendment to its credit facilities . the amendment provides for the following : 2022 prepayment of a portion of outstanding term loans . the company agreed to prepay an aggregate of $ 200.0 million of the term loans outstanding under the credit facilities from a portion of the net proceeds of the ati notes offering completed in january 2003 . this prepayment consisted of a $ 125.0 million prepayment of the term loan a and a $ 75.0 million prepayment of the term loan b , each to be applied to reduce future scheduled principal payments . giving effect to the prepayment of $ 200.0 million of term loans under the credit facility and the issuance of the ati notes as discussed above as well as the paydown of debt from net proceeds of the sale of mtn ( $ 24.5 million in february 2003 ) , the company 2019s aggregate principal payments of long- term debt , including capital leases , for the next five years and thereafter are as follows ( in thousands ) : year ending december 31 .
|2003|$ 268496|
|2004|131262|
|2005|195082|
|2006|538479|
|2007|1065437|
|thereafter|1408783|
|total|$ 3607539|
.
Question: what was the percent of the company aggregate principal payments due in 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: |
15.0 | Context:investment tax credits have been deferred by the regulated utility subsidiaries and are being amortized to income over the average estimated service lives of the related assets . the company recognizes accrued interest and penalties related to tax positions as a component of income tax expense and accounts for sales tax collected from customers and remitted to taxing authorities on a net basis . see note 14 2014income taxes for additional information . allowance for funds used during construction afudc is a non-cash credit to income with a corresponding charge to utility plant that represents the cost of borrowed funds or a return on equity funds devoted to plant under construction . the regulated utility subsidiaries record afudc to the extent permitted by the pucs . the portion of afudc attributable to borrowed funds is shown as a reduction of interest , net on the consolidated statements of operations . any portion of afudc attributable to equity funds would be included in other , net on the consolidated statements of operations . afudc is provided in the following table for the years ended december 31: .
||2018|2017|2016|
|allowance for other funds used during construction|$ 24|$ 19|$ 15|
|allowance for borrowed funds used during construction|13|8|6|
environmental costs the company 2019s water and wastewater operations and the operations of its market-based businesses are subject to u.s . federal , state , local and foreign requirements relating to environmental protection , and as such , the company periodically becomes subject to environmental claims in the normal course of business . environmental expenditures that relate to current operations or provide a future benefit are expensed or capitalized as appropriate . remediation costs that relate to an existing condition caused by past operations are accrued , on an undiscounted basis , when it is probable that these costs will be incurred and can be reasonably estimated . a conservation agreement entered into by a subsidiary of the company with the national oceanic and atmospheric administration in 2010 and amended in 2017 required the subsidiary to , among other provisions , implement certain measures to protect the steelhead trout and its habitat in the carmel river watershed in the state of california . the subsidiary agreed to pay $ 1 million annually commencing in 2010 with the final payment being made in 2021 . remediation costs accrued amounted to $ 4 million and $ 6 million as of december 31 , 2018 and 2017 , respectively . derivative financial instruments the company uses derivative financial instruments for purposes of hedging exposures to fluctuations in interest rates . these derivative contracts are entered into for periods consistent with the related underlying exposures and do not constitute positions independent of those exposures . the company does not enter into derivative contracts for speculative purposes and does not use leveraged instruments . all derivatives are recognized on the balance sheet at fair value . on the date the derivative contract is entered into , the company may designate the derivative as a hedge of the fair value of a recognized asset or liability ( fair-value hedge ) or a hedge of a forecasted transaction or of the variability of cash flows to be received or paid related to a recognized asset or liability ( cash-flow hedge ) . changes in the fair value of a fair-value hedge , along with the gain or loss on the underlying hedged item , are recorded in current-period earnings . the gains and losses on the effective portion of cash-flow hedges are recorded in other comprehensive income , until earnings are affected by the variability of cash flows . any ineffective portion of designated cash-flow hedges is recognized in current-period earnings. .
Question: what was the minimum allowance for other funds used during construction in the table? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
42.7 | Context:liquidity monitoring and measurement stress testing liquidity stress testing is performed for each of citi 2019s major entities , operating subsidiaries and/or countries . stress testing and scenario analyses are intended to quantify the potential impact of an adverse liquidity event on the balance sheet and liquidity position , and to identify viable funding alternatives that can be utilized . these scenarios include assumptions about significant changes in key funding sources , market triggers ( such as credit ratings ) , potential uses of funding and geopolitical and macroeconomic conditions . these conditions include expected and stressed market conditions as well as company-specific events . liquidity stress tests are conducted to ascertain potential mismatches between liquidity sources and uses over a variety of time horizons and over different stressed conditions . liquidity limits are set accordingly . to monitor the liquidity of an entity , these stress tests and potential mismatches are calculated with varying frequencies , with several tests performed daily . given the range of potential stresses , citi maintains contingency funding plans on a consolidated basis and for individual entities . these plans specify a wide range of readily available actions for a variety of adverse market conditions or idiosyncratic stresses . short-term liquidity measurement : liquidity coverage ratio ( lcr ) in addition to internal liquidity stress metrics that citi has developed for a 30-day stress scenario , citi also monitors its liquidity by reference to the lcr , as calculated pursuant to the u.s . lcr rules . generally , the lcr is designed to ensure that banks maintain an adequate level of hqla to meet liquidity needs under an acute 30-day stress scenario . the lcr is calculated by dividing hqla by estimated net outflows over a stressed 30-day period , with the net outflows determined by applying prescribed outflow factors to various categories of liabilities , such as deposits , unsecured and secured wholesale borrowings , unused lending commitments and derivatives- related exposures , partially offset by inflows from assets maturing within 30 days . banks are required to calculate an add-on to address potential maturity mismatches between contractual cash outflows and inflows within the 30-day period in determining the total amount of net outflows . the minimum lcr requirement is 100% ( 100 % ) , effective january 2017 . pursuant to the federal reserve board 2019s final rule regarding lcr disclosures , effective april 1 , 2017 , citi began to disclose lcr in the prescribed format . the table below sets forth the components of citi 2019s lcr calculation and hqla in excess of net outflows for the periods indicated : in billions of dollars dec . 31 , sept . 30 , dec . 31 .
|in billions of dollars|dec . 31 2017|sept . 30 2017|dec . 31 2016|
|hqla|$ 446.4|$ 448.6|$ 403.7|
|net outflows|364.3|365.1|332.5|
|lcr|123% ( 123 % )|123% ( 123 % )|121% ( 121 % )|
|hqla in excess of net outflows|$ 82.1|$ 83.5|$ 71.3|
note : amounts set forth in the table above are presented on an average basis . as set forth in the table above , citi 2019s lcr increased year- over-year , as the increase in the hqla ( as discussed above ) more than offset an increase in modeled net outflows . the increase in modeled net outflows was primarily driven by changes in assumptions , including changes in methodology to better align citi 2019s outflow assumptions with those embedded in its resolution planning . sequentially , citi 2019s lcr remained unchanged . long-term liquidity measurement : net stable funding ratio ( nsfr ) in 2016 , the federal reserve board , the fdic and the occ issued a proposed rule to implement the basel iii nsfr requirement . the u.s.-proposed nsfr is largely consistent with the basel committee 2019s final nsfr rules . in general , the nsfr assesses the availability of a bank 2019s stable funding against a required level . a bank 2019s available stable funding would include portions of equity , deposits and long-term debt , while its required stable funding would be based on the liquidity characteristics of its assets , derivatives and commitments . prescribed factors would be required to be applied to the various categories of asset and liabilities classes . the ratio of available stable funding to required stable funding would be required to be greater than 100% ( 100 % ) . while citi believes that it is compliant with the proposed u.s . nsfr rules as of december 31 , 2017 , it will need to evaluate a final version of the rules , which are expected to be released during 2018 . citi expects that the nsfr final rules implementation period will be communicated along with the final version of the rules. .
Question: what was the change in billions of hqla from dec . 31 , 2016 to dec . 31 , 2017? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-0.16095 | Context:costs . our 2012 results were lower than 2011 when we realized $ 53.1 million in premium-services margins and our storage and marketing margins consisted of $ 96.0 million from realized seasonal price differentials and marketing optimization activities , and $ 87.7 million of storage demand costs . in addition , we recognized a loss on the change in fair value of our nonqualifiying economic storage hedges of $ 1.0 million in 2012 compared with a gain of $ 8.5 million in 2011 . our premium services were impacted negatively by lower natural gas prices and decreased natural gas price volatility . the impact of our hedge strategies and the inability to hedge seasonal price differentials at levels that were available to us in the prior year significantly reduced our storage margins . we also experienced reduced opportunities to optimize our storage assets , which negatively impacted our marketing margins . we realized a loss in our transportation margins of $ 42.4 million in 2012 compared with a loss of $ 18.8 million in 2011 , due primarily to a $ 29.5 million decrease in transportation hedges . our transportation business continues to be impacted by narrow price location differentials and the inability to hedge at levels that were available to us in prior years . as a result of significant increases in the supply of natural gas , primarily from shale gas production across north america and new pipeline infrastructure projects , location and seasonal price differentials narrowed significantly beginning in 2010 and continuing through 2012 . this market change resulted in our transportation contracts being unprofitable impacting our ability to recover our fixed costs . operating costs decreased due primarily to lower employee-related expenses , which includes the impact of fewer employees . we also recognized an expense of $ 10.3 million related to the impairment of our goodwill in the first quarter 2012 . given the significant decline in natural gas prices and its effect on location and seasonal price differentials , we performed an interim impairment assessment in the first quarter 2012 that reduced our goodwill balance to zero . 2011 vs . 2010 - the factors discussed in energy services 2019 201cnarrative description of the business 201d included in item i , business , of this annual report have led to a significant decrease in net margin , including : 2022 a decrease of $ 65.3 million in transportation margins , net of hedging , due primarily to narrower location price differentials and lower hedge settlements in 2011 ; 2022 a decrease of $ 34.3 million in storage and marketing margins , net of hedging activities , due primarily to the following : 2013 lower realized seasonal storage price differentials ; offset partially by 2013 favorable marketing activity and unrealized fair value changes on nonqualifying economic storage hedges ; 2022 a decrease of $ 7.3 million in premium-services margins , associated primarily with the reduction in the value of the fees collected for these services as a result of low commodity prices and reduced natural gas price volatility in the first quarter 2011 compared with the first quarter 2010 ; and 2022 a decrease of $ 4.3 million in financial trading margins , as low natural gas prices and reduced natural gas price volatility limited our financial trading opportunities . additionally , our 2011 net margin includes $ 91.1 million in adjustments to natural gas inventory reflecting the lower of cost or market value . because of the adjustments to our inventory value , we reclassified $ 91.1 million of deferred gains on associated cash flow hedges into earnings . operating costs decreased due primarily to a decrease in ad valorem taxes . selected operating information - the following table sets forth certain selected operating information for our energy services segment for the periods indicated: .
|operating information|years ended december 31 , 2012|years ended december 31 , 2011|years ended december 31 , 2010|
|natural gas marketed ( bcf )|709|845|919|
|natural gas gross margin ( $ /mcf )|$ -0.07 ( 0.07 )|$ 0.06|$ 0.18|
|physically settled volumes ( bcf )|1433|1724|1874|
natural gas volumes marketed and physically settled volumes decreased in 2012 compared with 2011 due primarily to decreased marketing activities , lower transported volumes and reduced transportation capacity . the decrease in 2011 compared with 2010 was due primarily to lower volumes transported and reduced transportation capacity . transportation capacity in certain markets was not utilized due to the economics of the location price differentials as a result of increased supply of natural gas , primarily from shale production , and increased pipeline capacity as a result of new pipeline construction. .
Question: what was the percentage difference in natural gas marketed ( bcf ) between 2011 and 2012? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
497.9854 | Context:item 12 . security ownership of certain beneficial owners and management and related stockholder matters . the information required by item 12 is included under the heading 201csecurity ownership of management and certain beneficial owners 201d in the 2017 proxy statement , and that information is incorporated by reference in this form 10-k . equity compensation plan information the following table provides information about our equity compensation plans that authorize the issuance of shares of lockheed martin common stock to employees and directors . the information is provided as of december 31 , 2016 . plan category number of securities to be issued 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 ( excluding securities reflected in column ( a ) ) equity compensation plans approved by security holders ( 1 ) 5802673 $ 85.82 6216471 equity compensation plans not approved by security holders ( 2 ) 1082347 2014 2481032 .
|plan category|number of securities to beissued upon exercise of outstanding options warrants and rights ( a )|weighted-average exercise price of outstanding options warrants and rights ( b )|number of securities remaining availablefor future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) ( c )|
|equity compensation plans approved by securityholders ( 1 )|5802673|$ 85.82|6216471|
|equity compensation plans not approved bysecurity holders ( 2 )|1082347|2014|2481032|
|total|6885020|$ 85.82|8697503|
( 1 ) column ( a ) includes , as of december 31 , 2016 : 1747151 shares that have been granted as restricted stock units ( rsus ) , 936308 shares that could be earned pursuant to grants of performance stock units ( psus ) ( assuming the maximum number of psus are earned and payable at the end of the three-year performance period ) and 2967046 shares granted as options under the lockheed martin corporation 2011 incentive performance award plan ( 2011 ipa plan ) or predecessor plans prior to january 1 , 2013 and 23346 shares granted as options and 128822 stock units payable in stock or cash under the lockheed martin corporation 2009 directors equity plan ( directors equity plan ) or predecessor plans for members ( or former members ) of the board of directors . column ( c ) includes , as of december 31 , 2016 , 5751655 shares available for future issuance under the 2011 ipa plan as options , stock appreciation rights ( sars ) , restricted stock awards ( rsas ) , rsus or psus and 464816 shares available for future issuance under the directors equity plan as stock options and stock units . of the 5751655 shares available for grant under the 2011 ipa plan on december 31 , 2016 , 516653 and 236654 shares are issuable pursuant to grants made on january 26 , 2017 , of rsus and psus ( assuming the maximum number of psus are earned and payable at the end of the three-year performance period ) , respectively . the weighted average price does not take into account shares issued pursuant to rsus or psus . ( 2 ) the shares represent annual incentive bonuses and long-term incentive performance ( ltip ) payments earned and voluntarily deferred by employees . the deferred amounts are payable under the deferred management incentive compensation plan ( dmicp ) . deferred amounts are credited as phantom stock units at the closing price of our stock on the date the deferral is effective . amounts equal to our dividend are credited as stock units at the time we pay a dividend . following termination of employment , a number of shares of stock equal to the number of stock units credited to the employee 2019s dmicp account are distributed to the employee . there is no discount or value transfer on the stock distributed . distributions may be made from newly issued shares or shares purchased on the open market . historically , all distributions have come from shares held in a separate trust and , therefore , do not further dilute our common shares outstanding . as a result , these shares also were not considered in calculating the total weighted average exercise price in the table . because the dmicp shares are outstanding , they should be included in the denominator ( and not the numerator ) of a dilution calculation . item 13 . certain relationships and related transactions and director independence . the information required by this item 13 is included under the captions 201ccorporate governance 2013 related person transaction policy , 201d 201ccorporate governance 2013 certain relationships and related person transactions of directors , executive officers , and 5 percent stockholders , 201d and 201ccorporate governance 2013 director independence 201d in the 2017 proxy statement , and that information is incorporated by reference in this form 10-k . item 14 . principal accountant fees and services . the information required by this item 14 is included under the caption 201cproposal 2 2013 ratification of appointment of independent auditors 201d in the 2017 proxy statement , and that information is incorporated by reference in this form 10-k. .
Question: what is the total value of the issued 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: |
0.87349 | Context:areas exceeding 14.1 million acres ( 5.7 million hectares ) . products and brand designations appearing in italics are trademarks of international paper or a related company . industry segment results industrial packaging demand for industrial packaging products is closely correlated with non-durable industrial goods production , as well as with demand for processed foods , poultry , meat and agricultural products . in addition to prices and volumes , major factors affecting the profitability of industrial packaging are raw material and energy costs , freight costs , manufacturing efficiency and product mix . industrial packaging net sales and operating profits include the results of the temple-inland packaging operations from the date of acquisition in february 2012 and the results of the brazil packaging business from the date of acquisition in january 2013 . in addition , due to the acquisition of a majority share of olmuksa international paper sabanci ambalaj sanayi ve ticaret a.s. , ( now called olmuksan international paper or olmuksan ) net sales for our corrugated packaging business in turkey are included in the business segment totals beginning in the first quarter of 2013 and the operating profits reflect a higher ownership percentage than in previous years . net sales for 2013 increased 12% ( 12 % ) to $ 14.8 billion compared with $ 13.3 billion in 2012 , and 42% ( 42 % ) compared with $ 10.4 billion in 2011 . operating profits were 69% ( 69 % ) higher in 2013 than in 2012 and 57% ( 57 % ) higher than in 2011 . excluding costs associated with the acquisition and integration of temple-inland , the divestiture of three containerboard mills and other special items , operating profits in 2013 were 36% ( 36 % ) higher than in 2012 and 59% ( 59 % ) higher than in 2011 . benefits from the net impact of higher average sales price realizations and an unfavorable mix ( $ 749 million ) were offset by lower sales volumes ( $ 73 million ) , higher operating costs ( $ 64 million ) , higher maintenance outage costs ( $ 16 million ) and higher input costs ( $ 102 million ) . additionally , operating profits in 2013 include costs of $ 62 million associated with the integration of temple-inland , a gain of $ 13 million related to a bargain purchase adjustment on the acquisition of a majority share of our operations in turkey , and a net gain of $ 1 million for other items , while operating profits in 2012 included costs of $ 184 million associated with the acquisition and integration of temple-inland , mill divestiture costs of $ 91 million , costs associated with the restructuring of our european packaging business of $ 17 million and a $ 3 million gain for other items . industrial packaging .
|in millions|2013|2012|2011|
|sales|$ 14810|$ 13280|$ 10430|
|operating profit|1801|1066|1147|
north american industrial packaging net sales were $ 12.5 billion in 2013 compared with $ 11.6 billion in 2012 and $ 8.6 billion in 2011 . operating profits in 2013 were $ 1.8 billion ( both including and excluding costs associated with the integration of temple-inland and other special items ) compared with $ 1.0 billion ( $ 1.3 billion excluding costs associated with the acquisition and integration of temple-inland and mill divestiture costs ) in 2012 and $ 1.1 billion ( both including and excluding costs associated with signing an agreement to acquire temple-inland ) in 2011 . sales volumes decreased in 2013 compared with 2012 reflecting flat demand for boxes and the impact of commercial decisions . average sales price realizations were significantly higher mainly due to the realization of price increases for domestic containerboard and boxes . input costs were higher for wood , energy and recycled fiber . freight costs also increased . planned maintenance downtime costs were higher than in 2012 . manufacturing operating costs decreased , but were offset by inflation and higher overhead and distribution costs . the business took about 850000 tons of total downtime in 2013 of which about 450000 were market- related and 400000 were maintenance downtime . in 2012 , the business took about 945000 tons of total downtime of which about 580000 were market-related and about 365000 were maintenance downtime . operating profits in 2013 included $ 62 million of costs associated with the integration of temple-inland . operating profits in 2012 included $ 184 million of costs associated with the acquisition and integration of temple-inland and $ 91 million of costs associated with the divestiture of three containerboard mills . looking ahead to 2014 , compared with the fourth quarter of 2013 , sales volumes in the first quarter are expected to increase for boxes due to a higher number of shipping days offset by the impact from the severe winter weather events impacting much of the u.s . input costs are expected to be higher for energy , recycled fiber , wood and starch . planned maintenance downtime spending is expected to be about $ 51 million higher with outages scheduled at six mills compared with four mills in the 2013 fourth quarter . manufacturing operating costs are expected to be lower . however , operating profits will be negatively impacted by the adverse winter weather in the first quarter of 2014 . emea industrial packaging net sales in 2013 include the sales of our packaging operations in turkey which are now fully consolidated . net sales were $ 1.3 billion in 2013 compared with $ 1.0 billion in 2012 and $ 1.1 billion in 2011 . operating profits in 2013 were $ 43 million ( $ 32 .
Question: what percentage of industrial packaging sales where represented by north american industrial packaging net sales in 2012? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.37618 | Context:entergy louisiana , llc management's financial discussion and analysis net revenue 2008 compared to 2007 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges . following is an analysis of the change in net revenue comparing 2008 to 2007 . amount ( in millions ) .
||amount ( in millions )|
|2007 net revenue|$ 991.1|
|retail electric price|-17.1 ( 17.1 )|
|purchased power capacity|-12.0 ( 12.0 )|
|net wholesale revenue|-7.4 ( 7.4 )|
|other|4.6|
|2008 net revenue|$ 959.2|
the retail electric price variance is primarily due to the cessation of the interim storm recovery through the formula rate plan upon the act 55 financing of storm costs and a credit passed on to customers as a result of the act 55 storm cost financing , partially offset by increases in the formula rate plan effective october 2007 . refer to "hurricane rita and hurricane katrina" and "state and local rate regulation" below for a discussion of the interim recovery of storm costs , the act 55 storm cost financing , and the formula rate plan filing . the purchased power capacity variance is due to the amortization of deferred capacity costs effective september 2007 as a result of the formula rate plan filing in may 2007 . purchased power capacity costs are offset in base revenues due to a base rate increase implemented to recover incremental deferred and ongoing purchased power capacity charges . see "state and local rate regulation" below for a discussion of the formula rate plan filing . the net wholesale revenue variance is primarily due to provisions recorded for potential rate refunds related to the treatment of interruptible load in pricing entergy system affiliate sales . gross operating revenue and , fuel and purchased power expenses gross operating revenues increased primarily due to an increase of $ 364.7 million in fuel cost recovery revenues due to higher fuel rates offset by decreased usage . the increase was partially offset by a decrease of $ 56.8 million in gross wholesale revenue due to a decrease in system agreement rough production cost equalization credits . fuel and purchased power expenses increased primarily due to increases in the average market prices of natural gas and purchased power , partially offset by a decrease in the recovery from customers of deferred fuel costs. .
Question: what percent of the change in net revenue between 2007 and 2008 was due to purchased power capacity? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
385.4 | Context: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 . ireland . holdings ireland and ireland re conduct business in ireland and are subject to taxation in ireland . available information . the company 2019s annual reports on form 10-k , quarterly reports on form 10-q , current reports on form 8- k , proxy statements and amendments to those reports are available free of charge through the company 2019s internet website at http://www.everestre.com as soon as reasonably practicable after such reports are electronically filed with the securities and exchange commission ( the 201csec 201d ) . item 1a . risk factors in addition to the other information provided in this report , the following risk factors should be considered when evaluating an investment in our securities . if the circumstances contemplated by the individual risk factors materialize , our business , financial condition and results of operations could be materially and adversely affected and the trading price of our common shares could decline significantly . risks relating to our business fluctuations in the financial markets could result in investment losses . prolonged and severe disruptions in the public debt and equity markets , such as occurred during 2008 , could result in significant realized and unrealized losses in our investment portfolio . for the year ended december 31 , 2008 , we incurred $ 695.8 million of realized investment gains and $ 310.4 million of unrealized investment losses . although financial markets significantly improved during 2009 and 2010 , they could deteriorate in the future and again result in substantial realized and unrealized losses , which could have a material adverse impact on our results of operations , equity , business and insurer financial strength and debt ratings . our results could be adversely affected by catastrophic events . we are exposed to unpredictable catastrophic events , including weather-related and other natural catastrophes , as well as acts of terrorism . any material reduction in our operating results caused by the occurrence of one or more catastrophes could inhibit our ability to pay dividends or to meet our interest and principal payment obligations . subsequent to april 1 , 2010 , we define a catastrophe as an event that causes a loss on property exposures before reinsurance of at least $ 10.0 million , before corporate level reinsurance and taxes . prior to april 1 , 2010 , we used a threshold of $ 5.0 million . by way of illustration , during the past five calendar years , pre-tax catastrophe losses , net of contract specific reinsurance but before cessions under corporate reinsurance programs , were as follows: .
|calendar year:|pre-tax catastrophe losses|
|( dollars in millions )||
|2010|$ 571.1|
|2009|67.4|
|2008|364.3|
|2007|160.0|
|2006|287.9|
.
Question: what would be the net value , in millions of dollars , of investment gains in 2008 if all unrealized losses were realized? | 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: |
0.38095 | Context:taxing authorities could challenge our historical and future tax positions . our future effective tax rates could be affected by changes in the mix of earnings in countries with differing statutory rates and changes in tax laws or their interpretation including changes related to tax holidays or tax incentives . our taxes could increase if certain tax holidays or incentives are not renewed upon expiration , or if tax rates or regimes applicable to us in such jurisdictions are otherwise increased . the amount of tax we pay is subject to our interpretation of applicable tax laws in the jurisdictions in which we file . we have taken and will continue to take tax positions based on our interpretation of such tax laws . in particular , we will seek to organize and operate ourselves in such a way that we are and remain tax resident in the united kingdom . additionally , in determining the adequacy of our provision for income taxes , we regularly assess the likelihood of adverse outcomes resulting from tax examinations . while it is often difficult to predict the final outcome or the timing of the resolution of a tax examination , our reserves for uncertain tax benefits reflect the outcome of tax positions that are more likely than not to occur . while we believe that we have complied with all applicable tax laws , there can be no assurance that a taxing authority will not have a different interpretation of the law and assess us with additional taxes . should additional taxes be assessed , this may result in a material adverse effect on our results of operations and financial condition . item 1b . unresolved staff comments we have no unresolved sec staff comments to report . item 2 . properties as of december 31 , 2016 , we owned or leased 126 major manufacturing sites and 15 major technical centers . a manufacturing site may include multiple plants and may be wholly or partially owned or leased . we also have many smaller manufacturing sites , sales offices , warehouses , engineering centers , joint ventures and other investments strategically located throughout the world . we have a presence in 46 countries . the following table shows the regional distribution of our major manufacturing sites by the operating segment that uses such facilities : north america europe , middle east & africa asia pacific south america total .
||north america|europemiddle east& africa|asia pacific|south america|total|
|electrical/electronic architecture|32|34|25|5|96|
|powertrain systems|4|8|5|1|18|
|electronics and safety|3|6|3|2014|12|
|total|39|48|33|6|126|
in addition to these manufacturing sites , we had 15 major technical centers : five in north america ; five in europe , middle east and africa ; four in asia pacific ; and one in south america . of our 126 major manufacturing sites and 15 major technical centers , which include facilities owned or leased by our consolidated subsidiaries , 75 are primarily owned and 66 are primarily leased . we frequently review our real estate portfolio and develop footprint strategies to support our customers 2019 global plans , while at the same time supporting our technical needs and controlling operating expenses . we believe our evolving portfolio will meet current and anticipated future needs . item 3 . legal proceedings we are from time to time subject to various actions , claims , suits , government investigations , and other proceedings incidental to our business , including those arising out of alleged defects , breach of contracts , competition and antitrust matters , product warranties , intellectual property matters , personal injury claims and employment-related matters . it is our opinion that the outcome of such matters will not have a material adverse impact on our consolidated financial position , results of operations , or cash flows . with respect to warranty matters , although we cannot ensure that the future costs of warranty claims by customers will not be material , we believe our established reserves are adequate to cover potential warranty settlements . however , the final amounts required to resolve these matters could differ materially from our recorded estimates. .
Question: what percentage of major manufacturing sites are in europe middle east& africa? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-4.3 | Context:- the increase in level 3 short-term borrowings and long-term debt of $ 2.8 billion and $ 7.3 billion , respectively , resulted from transfers in of level 2 positions as prices and other valuation inputs became unobservable , plus the additions of new issuances for fair value accounting was elected . items measured at fair value on a nonrecurring basis certain assets and liabilities are measured at fair value on a nonrecurring basis and therefore are not included in the tables above . these include assets measured at cost that have been written down to fair value during the periods as a result of an impairment . in addition , assets such as loans held for sale that are measured at the lower of cost or market ( locom ) that were recognized at fair value below cost at the end of the period . the company recorded goodwill impairment charges of $ 9.6 billion as of december 31 , 2008 , as determined based on level 3 inputs . the primary cause of goodwill impairment was the overall weak industry outlook and continuing operating losses . these factors contributed to the overall decline in the stock price and the related market capitalization of citigroup . see note 19 , 201cgoodwill and intangible assets 201d on page 166 , for additional information on goodwill impairment . the company performed an impairment analysis of intangible assets related to the old lane multi-strategy hedge fund during the first quarter of 2008 . as a result , a pre-tax write-down of $ 202 million , representing the remaining unamortized balance of the intangible assets , was recorded during the first quarter of 2008 . the measurement of fair value was determined using level 3 input factors along with a discounted cash flow approach . during the fourth quarter of 2008 , the company performed an impairment analysis of japan's nikko asset management fund contracts which represent the rights to manage and collect fees on investor assets and are accounted for as indefinite-lived intangible assets . as a result , an impairment loss of $ 937 million pre-tax was recorded . the related fair value was determined using an income approach which relies on key drivers and future expectations of the business that are considered level 3 input factors . the fair value of loans measured on a locom basis is determined where possible using quoted secondary-market prices . such loans are generally classified in level 2 of the fair-value hierarchy given the level of activity in the market and the frequency of available quotes . if no such quoted price exists , the fair value of a loan is determined using quoted prices for a similar asset or assets , adjusted for the specific attributes of that loan . the following table presents all loans held-for-sale that are carried at locom as of december 31 , 2008 and december 31 , 2007 ( in billions ) : .
||aggregate cost|fair value|level 2|level 3|
|december 31 2008|$ 3.1|$ 2.1|$ 0.8|$ 1.3|
|december 31 2007|33.6|31.9|5.1|26.8|
loans held-for-sale that are carried at locom as of december 31 , 2008 significantly declined compared to december 31 , 2007 because most of these loans were either sold or reclassified to held-for-investment category. .
Question: what was the change in billions of loans held-for-sale that are carried at locom in the level 2 category 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: |
539.0 | Context:marathon oil corporation notes to consolidated financial statements equivalent to the exchangeable shares at the acquisition date as discussed below . additional shares of voting preferred stock will be issued as necessary to adjust the number of votes to account for changes in the exchange ratio . preferred shares 2013 in connection with the acquisition of western discussed in note 6 , the board of directors authorized a class of voting preferred stock consisting of 6 million shares . upon completion of the acquisition , we issued 5 million shares of this voting preferred stock to a trustee , who holds the shares for the benefit of the holders of the exchangeable shares discussed above . each share of voting preferred stock is entitled to one vote on all matters submitted to the holders of marathon common stock . each holder of exchangeable shares may direct the trustee to vote the number of shares of voting preferred stock equal to the number of shares of marathon common stock issuable upon the exchange of the exchangeable shares held by that holder . in no event will the aggregate number of votes entitled to be cast by the trustee with respect to the outstanding shares of voting preferred stock exceed the number of votes entitled to be cast with respect to the outstanding exchangeable shares . except as otherwise provided in our restated certificate of incorporation or by applicable law , the common stock and the voting preferred stock will vote together as a single class in the election of directors of marathon and on all other matters submitted to a vote of stockholders of marathon generally . the voting preferred stock will have no other voting rights except as required by law . other than dividends payable solely in shares of voting preferred stock , no dividend or other distribution , will be paid or payable to the holder of the voting preferred stock . in the event of any liquidation , dissolution or winding up of marathon , the holder of shares of the voting preferred stock will not be entitled to receive any assets of marathon available for distribution to its stockholders . the voting preferred stock is not convertible into any other class or series of the capital stock of marathon or into cash , property or other rights , and may not be redeemed . 25 . leases we lease a wide variety of facilities and equipment under operating leases , including land and building space , office equipment , production facilities and transportation equipment . most long-term leases include renewal options and , in certain leases , purchase options . future minimum commitments for capital lease obligations ( including sale-leasebacks accounted for as financings ) and for operating lease obligations having initial or remaining noncancelable lease terms in excess of one year are as follows : ( in millions ) capital lease obligations ( a ) operating obligations .
|( in millions )|capital lease obligations ( a )|operating lease obligations|
|2010|$ 46|$ 165|
|2011|45|140|
|2012|58|121|
|2013|44|102|
|2014|44|84|
|later years|466|313|
|sublease rentals|-|-16 ( 16 )|
|total minimum lease payments|$ 703|$ 909|
|less imputed interest costs|-257 ( 257 )||
|present value of net minimum lease payments|$ 446||
( a ) capital lease obligations include $ 164 million related to assets under construction as of december 31 , 2009 . these leases are currently reported in long-term debt based on percentage of construction completed at $ 36 million . in connection with past sales of various plants and operations , we assigned and the purchasers assumed certain leases of major equipment used in the divested plants and operations of united states steel . in the event of a default by any of the purchasers , united states steel has assumed these obligations ; however , we remain primarily obligated for payments under these leases . minimum lease payments under these operating lease obligations of $ 16 million have been included above and an equal amount has been reported as sublease rentals. .
Question: how much of total minimum lease payments ( in millions ) are not due to assets under construction? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
2897.0 | Context:the performance units granted to certain executives in fiscal 2014 were based on a one-year performance period . after the compensation committee certified the performance results , 25% ( 25 % ) of the performance units converted to unrestricted shares . the remaining 75% ( 75 % ) converted to restricted shares that vest in equal installments on each of the first three anniversaries of the conversion date . the performance units granted to certain executives during fiscal 2015 were based on a three-year performance period . after the compensation committee certifies the performance results for the three-year period , performance units earned will convert into unrestricted common stock . the compensation committee may set a range of possible performance-based outcomes for performance units . depending on the achievement of the performance measures , the grantee may earn up to 200% ( 200 % ) of the target number of shares . for awards with only performance conditions , we recognize compensation expense over the performance period using the grant date fair value of the award , which is based on the number of shares expected to be earned according to the level of achievement of performance goals . if the number of shares expected to be earned were to change at any time during the performance period , we would make a cumulative adjustment to share-based compensation expense based on the revised number of shares expected to be earned . during fiscal 2015 , certain executives were granted performance units that we refer to as leveraged performance units , or lpus . lpus contain a market condition based on our relative stock price growth over a three-year performance period . the lpus contain a minimum threshold performance which , if not met , would result in no payout . the lpus also contain a maximum award opportunity set as a fixed dollar and fixed number of shares . after the three-year performance period , one-third of any earned units converts to unrestricted common stock . the remaining two-thirds convert to restricted stock that will vest in equal installments on each of the first two anniversaries of the conversion date . we recognize share-based compensation expense based on the grant date fair value of the lpus , as determined by use of a monte carlo model , on a straight-line basis over the requisite service period for each separately vesting portion of the lpu award . total shareholder return units before fiscal 2015 , certain of our executives were granted total shareholder return ( 201ctsr 201d ) units , which are performance-based restricted stock units that are earned based on our total shareholder return over a three-year performance period compared to companies in the s&p 500 . once the performance results are certified , tsr units convert into unrestricted common stock . depending on our performance , the grantee may earn up to 200% ( 200 % ) of the target number of shares . the target number of tsr units for each executive is set by the compensation committee . we recognize share-based compensation expense based on the grant date fair value of the tsr units , as determined by use of a monte carlo model , on a straight-line basis over the vesting period . the following table summarizes the changes in unvested share-based awards for the years ended may 31 , 2015 and 2014 ( shares in thousands ) : shares weighted-average grant-date fair value .
||shares|weighted-averagegrant-datefair value|
|unvested at may 31 2013|1096|$ 44|
|granted|544|47|
|vested|-643 ( 643 )|45|
|forfeited|-120 ( 120 )|45|
|unvested at may 31 2014|877|45|
|granted|477|72|
|vested|-324 ( 324 )|46|
|forfeited|-106 ( 106 )|53|
|unvested at may 31 2015|924|$ 58|
global payments inc . | 2015 form 10-k annual report 2013 81 .
Question: what is the total amount of unvested shares gifted by the company during the three year period? | 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:the city council 2019s advisors and entergy new orleans . in february 2018 the city council approved the settlement , which deferred cost recovery to the 2018 entergy new orleans rate case , but also stated that an adjustment for 2018-2019 ami costs can be filed in the rate case and that , for all subsequent ami costs , the mechanism to be approved in the 2018 rate case will allow for the timely recovery of such costs . sources of capital entergy new orleans 2019s sources to meet its capital requirements include : 2022 internally generated funds ; 2022 cash on hand ; 2022 debt and preferred membership interest issuances ; and 2022 bank financing under new or existing facilities . entergy new orleans may refinance , redeem , or otherwise retire debt prior to maturity , to the extent market conditions and interest rates are favorable . entergy new orleans 2019s receivables from the money pool were as follows as of december 31 for each of the following years. .
|2017|2016|2015|2014|
|( in thousands )|( in thousands )|( in thousands )|( in thousands )|
|$ 12723|$ 14215|$ 15794|$ 442|
see note 4 to the financial statements for a description of the money pool . entergy new orleans has a credit facility in the amount of $ 25 million scheduled to expire in november 2018 . the credit facility allows entergy new orleans to issue letters of credit against $ 10 million of the borrowing capacity of the facility . as of december 31 , 2017 , there were no cash borrowings and a $ 0.8 million letter of credit was outstanding under the facility . in addition , entergy new orleans is a party to an uncommitted letter of credit facility as a means to post collateral to support its obligations to miso . a0 as of december 31 , 2017 , a $ 1.4 million letter of credit was outstanding under entergy new orleans 2019s letter of credit a0facility . see note 4 to the financial statements for additional discussion of the credit facilities . entergy new orleans obtained authorization from the ferc through october 2019 for short-term borrowings not to exceed an aggregate amount of $ 150 million at any time outstanding and long-term borrowings and securities issuances . see note 4 to the financial statements for further discussion of entergy new orleans 2019s short-term borrowing limits . the long-term securities issuances of entergy new orleans are limited to amounts authorized not only by the ferc , but also by the city council , and the current city council authorization extends through june 2018 . entergy new orleans , llc and subsidiaries management 2019s financial discussion and analysis state and local rate regulation the rates that entergy new orleans charges for electricity and natural gas significantly influence its financial position , results of operations , and liquidity . entergy new orleans is regulated and the rates charged to its customers are determined in regulatory proceedings . a governmental agency , the city council , is primarily responsible for approval of the rates charged to customers . retail rates see 201calgiers asset transfer 201d below for discussion of the algiers asset transfer . as a provision of the settlement agreement approved by the city council in may 2015 providing for the algiers asset transfer , it was agreed that , with limited exceptions , no action may be taken with respect to entergy new orleans 2019s base rates until rates are implemented .
Question: as of december 31 , 2017 what was the percent of the entergy new orleans credit facility allowance for the for the issue letters of credit that was outstanding | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
1215.0 | Context:management 2019s priorities management has re-evaluated its priorities following the appointment of its new ceo in september 2011 . management is focused on the following priorities : 2022 execution of our geographic concentration strategy to maximize shareholder value through disciplined capital allocation including : 2022 platform expansion in brazil , chile , colombia , and the united states , 2022 platform development in turkey , poland , and the united kingdom , 2022 corporate debt reduction , and 2022 a return of capital to shareholders , including our intent to initiate a dividend in 2012 ; 2022 closing the sales of businesses for which we have signed agreements with counterparties and prudently exiting select non-strategic markets ; 2022 optimizing profitability of operations in the existing portfolio ; 2022 integration of dpl into our portfolio ; 2022 implementing a management realignment of our businesses under two business lines : utilities and generation , and achieving cost savings through the alignment of overhead costs with business requirements , systems automation and optimal allocation of business development spending ; and 2022 completion of an approximately 2400 mw construction program and the integration of new projects into existing businesses . during the year ended december 31 , 2011 , the following projects commenced commercial operations : project location fuel aes equity interest ( percent , rounded ) aes solar ( 1 ) . . . . . . . . . . . . . . . . . . . . . . . various solar 62 50% ( 50 % ) .
|project|location|fuel|gross mw|aes equity interest ( percent rounded )|
|aes solar ( 1 )|various|solar|62|50% ( 50 % )|
|angamos|chile|coal|545|71% ( 71 % )|
|changuinola|panama|hydro|223|100% ( 100 % )|
|kumkoy ( 2 )|turkey|hydro|18|51% ( 51 % )|
|laurel mountain|us-wv|wind|98|100% ( 100 % )|
|maritza|bulgaria|coal|670|100% ( 100 % )|
|sao joaquim|brazil|hydro|3|24% ( 24 % )|
|trinidad ( 3 )|trinidad|gas|394|10% ( 10 % )|
trinidad ( 3 ) . . . . . . . . . . . . . . . . . . . . . . . . trinidad gas 394 10% ( 10 % ) ( 1 ) aes solar energy ltd . is a joint venture with riverstone holdings and is accounted for as an equity method investment . plants that came online during the year include : kalipetrovo , ugento , soemina , francavilla fontana , latina , cocomeri , francofonte , scopeto , sabaudia , aprilla-1 , siracusa 1-3 complex , manduria apollo and rinaldone . ( 2 ) joint venture with i.c . energy . ( 3 ) an equity method investment held by aes . key trends and uncertainties our operations continue to face many risks as discussed in item 1a . 2014risk factors of this form 10-k . some of these challenges are also described below in 201ckey drivers of results in 2011 201d . we continue to monitor our operations and address challenges as they arise . operations in august 2010 , the esti power plant , a 120 mw run-of-river hydroelectric power plant in panama , was taken offline due to damage to its tunnel infrastructure . aes panama is partially covered for business .
Question: in gross mw , what is the company's total coal capacity? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-4.0 | Context:the aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2017 , 2016 , and 2015 the total amount of unrecognized tax benefits anticipated to result in a net decrease to unrecognized tax benefits within 12 months of december 31 , 2017 is estimated to be between $ 5 million and $ 15 million , primarily relating to statute of limitation lapses and tax exam settlements . the following is a reconciliation of the beginning and ending amounts of unrecognized tax benefits for the periods indicated ( in millions ) : .
|december 31,|2017|2016|2015|
|balance at january 1|$ 352|$ 364|$ 384|
|additions for current year tax positions|2014|2|2|
|additions for tax positions of prior years|2|1|12|
|reductions for tax positions of prior years|-5 ( 5 )|-1 ( 1 )|-7 ( 7 )|
|effects of foreign currency translation|2014|2014|-3 ( 3 )|
|settlements|2014|-13 ( 13 )|-17 ( 17 )|
|lapse of statute of limitations|-1 ( 1 )|-1 ( 1 )|-7 ( 7 )|
|balance at december 31|$ 348|$ 352|$ 364|
the company and certain of its subsidiaries are currently under examination by the relevant taxing authorities for various tax years . the company regularly assesses the potential outcome of these examinations in each of the taxing jurisdictions when determining the adequacy of the amount of unrecognized tax benefit recorded . while it is often difficult to predict the final outcome or the timing of resolution of any particular uncertain tax position , we believe we have appropriately accrued for our uncertain tax benefits . however , audit outcomes and the timing of audit settlements and future events that would impact our previously recorded unrecognized tax benefits and the range of anticipated increases or decreases in unrecognized tax benefits are subject to significant uncertainty . it is possible that the ultimate outcome of current or future examinations may exceed our provision for current unrecognized tax benefits in amounts that could be material , but cannot be estimated as of december 31 , 2017 . our effective tax rate and net income in any given future period could therefore be materially impacted . 21 . discontinued operations due to a portfolio evaluation in the first half of 2016 , management decided to pursue a strategic shift of its distribution companies in brazil , sul and eletropaulo , to reduce the company's exposure to the brazilian distribution market . eletropaulo 2014 in november 2017 , eletropaulo converted its preferred shares into ordinary shares and transitioned the listing of those shares into the novo mercado , which is a listing segment of the brazilian stock exchange with the highest standards of corporate governance . upon conversion of the preferred shares into ordinary shares , aes no longer controlled eletropaulo , but maintained significant influence over the business . as a result , the company deconsolidated eletropaulo . after deconsolidation , the company's 17% ( 17 % ) ownership interest is reflected as an equity method investment . the company recorded an after-tax loss on deconsolidation of $ 611 million , which primarily consisted of $ 455 million related to cumulative translation losses and $ 243 million related to pension losses reclassified from aocl . in december 2017 , all the remaining criteria were met for eletropaulo to qualify as a discontinued operation . therefore , its results of operations and financial position were reported as such in the consolidated financial statements for all periods presented . eletropaulo's pre-tax loss attributable to aes , including the loss on deconsolidation , for the years ended december 31 , 2017 and 2016 was $ 633 million and $ 192 million , respectively . eletropaulo's pre-tax income attributable to aes for the year ended december 31 , 2015 was $ 73 million . prior to its classification as discontinued operations , eletropaulo was reported in the brazil sbu reportable segment . sul 2014 the company executed an agreement for the sale of sul , a wholly-owned subsidiary , in june 2016 . the results of operations and financial position of sul are reported as discontinued operations in the consolidated financial statements for all periods presented . upon meeting the held-for-sale criteria , the company recognized an after-tax loss of $ 382 million comprised of a pre-tax impairment charge of $ 783 million , offset by a tax benefit of $ 266 million related to the impairment of the sul long lived assets and a tax benefit of $ 135 million for deferred taxes related to the investment in sul . prior to the impairment charge , the carrying value of the sul asset group of $ 1.6 billion was greater than its approximate fair value less costs to sell . however , the impairment charge was limited to the carrying value of the long lived assets of the sul disposal group . on october 31 , 2016 , the company completed the sale of sul and received final proceeds less costs to sell of $ 484 million , excluding contingent consideration . upon disposal of sul , the company incurred an additional after-tax .
Question: what was the net change in millions in unrecognized tax benefits from 2016 to 2017? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
6250.0 | Context:48 2022 2010 annual report as part of the acquisition of gfsi , we acquired gross net operating loss ( 201cnol 201d ) carry forwards of $ 64431 ; of which , only $ 34592 are expected to be utilized due to the application of irc section 382 . separately , as of june 30 , 2010 , we had state nol carry forwards of $ 838 . these losses have varying expiration dates , ranging from 2012 to 2029 . based on state tax rules which restrict our usage of these losses , we believe it is more likely than not that $ 306 of these losses will expire unutilized . accordingly , a valuation allowance of $ 306 has been recorded against these assets as of june 30 , 2010 . the company paid income taxes of $ 42116 , $ 62965 , and $ 51709 in 2010 , 2009 , and 2008 , respectively . at june 30 , 2009 , the company had $ 5518 of unrecognized tax benefits . at june 30 , 2010 , the company had $ 7187 of unrecognized tax benefits , of which , $ 4989 , if recognized , would affect our effective tax rate . we had accrued interest and penalties of $ 890 and $ 732 related to uncertain tax positions at june 30 , 2010 and 2009 , respectively . a reconciliation of the unrecognized tax benefits for the years ended june 30 , 2010 and 2009 follows : unrecognized tax benefits .
||unrecognized tax benefits|
|balance at july 1 2008|$ 4055|
|additions for current year tax positions|1044|
|additions for prior year tax positions|2052|
|reductions for prior year tax positions|-110 ( 110 )|
|settlements|-936 ( 936 )|
|reductions related to expirations of statute of limitations|-587 ( 587 )|
|balance at june 30 2009|5518|
|additions for current year tax positions|691|
|reductions for current year tax positions|-39 ( 39 )|
|additions for prior year tax positions|2049|
|reductions for prior year tax positions|-298 ( 298 )|
|settlements|-|
|reductions related to expirations of statute of limitations|-734 ( 734 )|
|balance at june 30 2010|$ 7187|
during the fiscal year ended june 30 , 2010 , the internal revenue service commenced an examination of the company 2019s u.s . federal income tax returns for fiscal years ended june 2008 through 2009 . the u.s . federal and state income tax returns for june 30 , 2007 and all subsequent years still remain subject to examination as of june 30 , 2010 under statute of limitations rules . we anticipate potential changes resulting from the expiration of statutes of limitations of up to $ 965 could reduce the unrecognized tax benefits balance within twelve months of june 30 , note 8 : industry and supplier concentrations the company sells its products to banks , credit unions , and financial institutions throughout the united states and generally does not require collateral . all billings to customers are due 30 days from date of billing . reserves ( which are insignificant at june 30 , 2010 , 2009 and 2008 ) are maintained for potential credit losses . in addition , the company purchases most of its computer hardware and related maintenance for resale in relation to installation of jha software systems from two suppliers . there are a limited number of hardware suppliers for these required items . if these relationships were terminated , it could have a significant negative impact on the future operations of the company . note 9 : stock based compensation plans the company previously issued options to employees under the 1996 stock option plan ( 201c1996 sop 201d ) and currently issues options to outside directors under the 2005 non-qualified stock option plan ( 201c2005 nsop 201d ) . 1996 sop the 1996 sop was adopted by the company on october 29 , 1996 , for its employees . terms and vesting periods .
Question: if the companies accounting policy were to include accrued interest and penalties in utp , what would the balance be as of at june 30 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: |
11886.0 | Context:the discount rate assumption was determined for the pension and postretirement benefit plans independently . at year-end 2011 , the company began using an approach that approximates the process of settlement of obligations tailored to the plans 2019 expected cash flows by matching the plans 2019 cash flows to the coupons and expected maturity values of individually selected bonds . the yield curve was developed for a universe containing the majority of u.s.-issued aa-graded corporate bonds , all of which were non callable ( or callable with make-whole provisions ) . historically , for each plan , the discount rate was developed as the level equivalent rate that would produce the same present value as that using spot rates aligned with the projected benefit payments . the expected long-term rate of return on plan assets is based on historical and projected rates of return , prior to administrative and investment management fees , for current and planned asset classes in the plans 2019 investment portfolios . assumed projected rates of return for each of the plans 2019 projected asset classes were selected after analyzing historical experience and future expectations of the returns and volatility of the various asset classes . based on the target asset allocation for each asset class , the overall expected rate of return for the portfolio was developed , adjusted for historical and expected experience of active portfolio management results compared to the benchmark returns and for the effect of expenses paid from plan assets . the company 2019s pension expense increases as the expected return on assets decreases . in the determination of year end 2014 projected benefit plan obligations , the company adopted a new table based on the society of actuaries rp 2014 mortality table including a generational bb-2d projection scale . the adoption resulted in a significant increase to pension and other postretirement benefit plans 2019 projected benefit obligations . assumed health care cost trend rates have a significant effect on the amounts reported for the other postretirement benefit plans . the health care cost trend rate is based on historical rates and expected market conditions . a one-percentage-point change in assumed health care cost trend rates would have the following effects : one-percentage-point increase one-percentage-point decrease effect on total of service and interest cost components . . . . . . . . . . . . . . . $ 5943 $ ( 4887 ) effect on other postretirement benefit obligation . . . . . . . . . . . . . . . . . . . . $ 105967 $ ( 86179 ) .
||one-percentage-point increase|one-percentage-point decrease|
|effect on total of service and interest cost components|$ 5943|$ -4887 ( 4887 )|
|effect on other postretirement benefit obligation|$ 105967|$ -86179 ( 86179 )|
the discount rate assumption was determined for the pension and postretirement benefit plans independently . at year-end 2011 , the company began using an approach that approximates the process of settlement of obligations tailored to the plans 2019 expected cash flows by matching the plans 2019 cash flows to the coupons and expected maturity values of individually selected bonds . the yield curve was developed for a universe containing the majority of u.s.-issued aa-graded corporate bonds , all of which were non callable ( or callable with make-whole provisions ) . historically , for each plan , the discount rate was developed as the level equivalent rate that would produce the same present value as that using spot rates aligned with the projected benefit payments . the expected long-term rate of return on plan assets is based on historical and projected rates of return , prior to administrative and investment management fees , for current and planned asset classes in the plans 2019 investment portfolios . assumed projected rates of return for each of the plans 2019 projected asset classes were selected after analyzing historical experience and future expectations of the returns and volatility of the various asset classes . based on the target asset allocation for each asset class , the overall expected rate of return for the portfolio was developed , adjusted for historical and expected experience of active portfolio management results compared to the benchmark returns and for the effect of expenses paid from plan assets . the company 2019s pension expense increases as the expected return on assets decreases . in the determination of year end 2014 projected benefit plan obligations , the company adopted a new table based on the society of actuaries rp 2014 mortality table including a generational bb-2d projection scale . the adoption resulted in a significant increase to pension and other postretirement benefit plans 2019 projected benefit obligations . assumed health care cost trend rates have a significant effect on the amounts reported for the other postretirement benefit plans . the health care cost trend rate is based on historical rates and expected market conditions . a one-percentage-point change in assumed health care cost trend rates would have the following effects : one-percentage-point increase one-percentage-point decrease effect on total of service and interest cost components . . . . . . . . . . . . . . . $ 5943 $ ( 4887 ) effect on other postretirement benefit obligation . . . . . . . . . . . . . . . . . . . . $ 105967 $ ( 86179 ) .
Question: what would the effect on total of service and interest cost components as a result of a 2 percent point increase? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.98571 | Context:the following tables present a reconciliation of the beginning and ending balances of the fair value measurements using significant unobservable inputs ( level 3 ) for 2017 and 2016 , respectively: .
||level 3|
|balance as of january 1 2017|$ 140|
|actual return on assets|2|
|purchases issuances and settlements net|136|
|balance as of december 31 2017|$ 278|
purchases , issuances and settlements , net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ( 4 ) balance as of december 31 , 2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 140 the company 2019s postretirement benefit plans have different levels of funded status and the assets are held under various trusts . the investments and risk mitigation strategies for the plans are tailored specifically for each trust . in setting new strategic asset mixes , consideration is given to the likelihood that the selected asset allocation will effectively fund the projected plan liabilities and meet the risk tolerance criteria of the company . the company periodically updates the long-term , strategic asset allocations for these plans through asset liability studies and uses various analytics to determine the optimal asset allocation . considerations include plan liability characteristics , liquidity needs , funding requirements , expected rates of return and the distribution of returns . strategies to address the goal of ensuring sufficient assets to pay benefits include target allocations to a broad array of asset classes and , within asset classes , strategies are employed to provide adequate returns , diversification and liquidity . in 2012 , the company implemented a de-risking strategy for the american water pension plan after conducting an asset-liability study to reduce the volatility of the funded status of the plan . as part of the de-risking strategy , the company revised the asset allocations to increase the matching characteristics of fixed-income assets relative to liabilities . the fixed income portion of the portfolio was designed to match the bond-like and long-dated nature of the postretirement liabilities . in 2017 , the company further increased its exposure to liability-driven investing and increased its fixed-income allocation to 50% ( 50 % ) , up from 40% ( 40 % ) , in an effort to further decrease the funded status volatility of the plan and hedge the portfolio from movements in interest rates . in 2012 , the company also implemented a de-risking strategy for the medical bargaining trust within the plan to minimize volatility . in 2017 , the company conducted a new asset-liability study that indicated medical trend inflation that outpaced the consumer price index by more than 2% ( 2 % ) for the last 20 years . given continuously rising medical costs , the company decided to increase the equity exposure of the portfolio to 30% ( 30 % ) , up from 20% ( 20 % ) , while reducing the fixed-income portion of the portfolio from 80% ( 80 % ) to 70% ( 70 % ) . the company also conducted an asset-liability study for the post-retirement non-bargaining medical plan . its allocation was adjusted to make it more conservative , reducing the equity allocation from 70% ( 70 % ) to 60% ( 60 % ) and increasing the fixed- income allocation from 30% ( 30 % ) to 40% ( 40 % ) . the post-retirement medical non-bargaining plan 2019s equity allocation was reduced due to the cap on benefits for some non-union participants and resultant reduction in the plan 2019s liabilities . these changes will take place in 2018 . the company engages third party investment managers for all invested assets . managers are not permitted to invest outside of the asset class ( e.g . fixed income , equity , alternatives ) or strategy for which they have been appointed . investment management agreements and recurring performance and attribution analysis are used as tools to ensure investment managers invest solely within the investment strategy they have been provided . futures and options may be used to adjust portfolio duration to align with a plan 2019s targeted investment policy. .
Question: what was the growth in the account balance in 2017 | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
64890.42895 | Context:agreements containing cross-default provisions . under these circumstances , we might not have sufficient funds or other resources to satisfy all of our obligations . the mandatory convertible preferred stock underlying the depositary shares issued in connection with the financing of the bard transaction may adversely affect the market price of bd common stock . the market price of bd common stock is likely to be influenced by the mandatory convertible preferred stock underlying the depositary shares issued in connection with the financing for the bard transaction . the market price of bd common stock could become more volatile and could be depressed by : 2022 investors 2019 anticipation of the potential resale in the market of a substantial number of additional shares of bd common stock received upon conversion of the mandatory convertible preferred stock ; 2022 possible sales of bd common stock by investors who view the mandatory convertible preferred stock as a more attractive means of equity participation in bd than owning shares of bd common stock ; and 2022 hedging or arbitrage trading activity that may develop involving the mandatory convertible preferred stock and bd common stock . item 1b . unresolved staff comments . item 2 . properties . bd 2019s executive offices are located in franklin lakes , new jersey . as of october 31 , 2018 , bd owned or leased 380 facilities throughout the world , comprising approximately 24658363 square feet of manufacturing , warehousing , administrative and research facilities . the u.s . facilities , including those in puerto rico , comprise approximately 8619099 square feet of owned and 4407539 square feet of leased space . the international facilities comprise approximately 8484223 square feet of owned and 3147502 square feet of leased space . sales offices and distribution centers included in the total square footage are also located throughout the world . operations in each of bd 2019s business segments are conducted at both u.s . and international locations . particularly in the international marketplace , facilities often serve more than one business segment and are used for multiple purposes , such as administrative/sales , manufacturing and/or warehousing/distribution . bd generally seeks to own its manufacturing facilities , although some are leased . the following table summarizes property information by business segment. .
|sites|corporate|bd life sciences|bd medical|bd interventional|mixed ( a )|total|
|leased|20|21|81|86|83|291|
|owned|6|23|31|23|6|89|
|total|26|44|112|109|89|380|
|square feet|2281986|3958668|10946766|4651903|2819040|24658363|
( a ) facilities used by more than one business segment . bd believes that its facilities are of good construction and in good physical condition , are suitable and adequate for the operations conducted at those facilities , and are , with minor exceptions , fully utilized and operating at normal capacity . the u.s . facilities are located in alabama , arizona , california , connecticut , florida , georgia , illinois , indiana , maryland , massachusetts , michigan , minnesota , missouri , montana , nebraska , new jersey , new york , north carolina , ohio , oklahoma , oregon , pennsylvania , rhode island , south carolina , tennessee , texas , utah , virginia , washington , d.c. , washington , wisconsin and puerto rico. .
Question: as of october 31 , 2018 , what was the average square footage per location bd owned or leased in 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: |
0.64722 | Context:assets ( including trade receivables ) that are in the scope of the update . asu 2016-13 also made amendments to the current impairment model for held-to-maturity and available-for-sale debt securities and certain guarantees . the guidance will become effective for us on january 1 , 2020 . early adoption is permitted for periods beginning on or after january 1 , 2019 . we are evaluating the effect of asu 2016-13 on our consolidated financial statements . note 2 2014 acquisitions the transactions described below were accounted for as business combinations , which requires that we record the assets acquired and liabilities assumed at fair value as of the acquisition date . on october 17 , 2018 , we acquired sicom systems , inc . ( 201csicom 201d ) for total purchase consideration of $ 409.2 million , which we funded with cash on hand and by drawing on our revolving credit facility ( described in 201cnote 8 2014 long-term debt and lines of credit 201d ) . sicom is a provider of end-to-end enterprise , cloud-based software solutions and other technologies to quick service restaurants and food service management companies . sicom 2019s technologies are complementary to our existing xenial solutions , and we believe this acquisition will expand our software-driven payments strategy by enabling us to increase our capabilities and expand on our existing presence in the restaurant vertical market . prior to the acquisition , sicom was indirectly owned by a private equity investment firm where one of our board members is a partner and investor . his direct interest in the transaction was approximately $ 1.1 million , the amount distributed to him based on his investment interest in the fund of the private equity firm that sold sicom to us . based on consideration of all relevant information , the audit committee of our board of directors recommended that the board approve the acquisition of sicom , which it did . the provisional estimated acquisition-date fair values of major classes of assets acquired and liabilities assumed as of december 31 , 2018 , including a reconciliation to the total purchase consideration , were as follows ( in thousands ) : .
|cash and cash equivalents|$ 7540|
|property and equipment|5943|
|identified intangible assets|188294|
|other assets|22278|
|deferred income taxes|-48448 ( 48448 )|
|other liabilities|-31250 ( 31250 )|
|total identifiable net assets|144357|
|goodwill|264844|
|total purchase consideration|$ 409201|
as of december 31 , 2018 , we considered these balances to be provisional because we were still in the process of determining the final purchase consideration , which is subject to adjustment pursuant to the purchase agreement , and gathering and reviewing information to support the valuations of the assets acquired and liabilities assumed . goodwill arising from the acquisition of $ 264.8 million , included in the north america segment , was attributable to expected growth opportunities , an assembled workforce and potential synergies from combining our existing businesses . we expect that approximately $ 50 million of the goodwill from this acquisition will be deductible for income tax purposes . 74 2013 global payments inc . | 2018 form 10-k annual report .
Question: what percentage of total purchase consideration is composed of goodwill? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.12241 | Context:table of contents extinguishment costs incurred as a result of the repayment of certain aircraft secured indebtedness , including cash interest charges and non-cash write offs of unamortized debt issuance costs . as a result of the 2013 refinancing activities and the early extinguishment of american 2019s 7.50% ( 7.50 % ) senior secured notes in 2014 , we recognized $ 100 million less interest expense in 2014 as compared to the 2013 period . other nonoperating expense , net in 2014 consisted principally of net foreign currency losses of $ 114 million and early debt extinguishment charges of $ 56 million . other nonoperating expense , net in 2013 consisted principally of net foreign currency losses of $ 56 million and early debt extinguishment charges of $ 29 million . other nonoperating expense , net increased $ 64 million , or 73.1% ( 73.1 % ) , during 2014 primarily due to special charges recognized as a result of early debt extinguishment and an increase in foreign currency losses driven by the strengthening of the u.s . dollar in foreign currency transactions , principally in latin american markets . we recorded a $ 43 million special charge for venezuelan foreign currency losses in 2014 . see part ii , item 7a . quantitative and qualitative disclosures about market risk for further discussion of our cash held in venezuelan bolivars . in addition , our 2014 nonoperating special items included $ 56 million primarily related to the early extinguishment of american 2019s 7.50% ( 7.50 % ) senior secured notes and other indebtedness . reorganization items , net reorganization items refer to revenues , expenses ( including professional fees ) , realized gains and losses and provisions for losses that are realized or incurred as a direct result of the chapter 11 cases . the following table summarizes the components included in reorganization items , net on aag 2019s consolidated statement of operations for the year ended december 31 , 2013 ( in millions ) : .
||2013|
|labor-related deemed claim ( 1 )|$ 1733|
|aircraft and facility financing renegotiations and rejections ( 2 ) ( 3 )|325|
|fair value of conversion discount ( 4 )|218|
|professional fees|199|
|other|180|
|total reorganization items net|$ 2655|
( 1 ) in exchange for employees 2019 contributions to the successful reorganization , including agreeing to reductions in pay and benefits , we agreed in the plan to provide each employee group a deemed claim , which was used to provide a distribution of a portion of the equity of the reorganized entity to those employees . each employee group received a deemed claim amount based upon a portion of the value of cost savings provided by that group through reductions to pay and benefits as well as through certain work rule changes . the total value of this deemed claim was approximately $ 1.7 billion . ( 2 ) amounts include allowed claims ( claims approved by the bankruptcy court ) and estimated allowed claims relating to ( i ) the rejection or modification of financings related to aircraft and ( ii ) entry of orders treated as unsecured claims with respect to facility agreements supporting certain issuances of special facility revenue bonds . the debtors recorded an estimated claim associated with the rejection or modification of a financing or facility agreement when the applicable motion was filed with the bankruptcy court to reject or modify such financing or facility agreement and the debtors believed that it was probable the motion would be approved , and there was sufficient information to estimate the claim . see note 2 to aag 2019s consolidated financial statements in part ii , item 8a for further information . ( 3 ) pursuant to the plan , the debtors agreed to allow certain post-petition unsecured claims on obligations . as a result , during the year ended december 31 , 2013 , we recorded reorganization charges to adjust estimated allowed claim amounts previously recorded on rejected special facility revenue bonds of $ 180 million , allowed general unsecured claims related to the 1990 and 1994 series of special facility revenue bonds that financed certain improvements at jfk , and rejected bonds that financed certain improvements at ord , which are included in the table above. .
Question: what percentage of total reorganization items net were aircraft and facility financing renegotiations and rejections 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: |
2.86 | Context:portion of their plan account invested in shares of pnc common stock into other investments available within the plan . prior to this amendment , only participants age 50 or older were permitted to exercise this diversification option . employee benefits expense related to this plan was $ 52 million in 2007 , $ 52 million in 2006 and $ 47 million in 2005 . we measured employee benefits expense as the fair value of the shares and cash contributed to the plan by pnc . hilliard lyons sponsors a contributory , qualified defined contribution plan that covers substantially all of its employees who are not covered by the plan described above . contributions to this plan are made in cash and include a base contribution for those participants employed at december 31 , a matching of employee contributions , and a discretionary profit sharing contribution as determined by hilliard lyons 2019 executive compensation committee . employee benefits expense for this plan was $ 6 million in 2007 , $ 5 million in 2006 and $ 6 million in 2005 . see note 2 acquisitions and divestitures regarding our pending sale of hilliard lyons . we have a separate qualified defined contribution plan that covers substantially all us-based pfpc employees not covered by our plan . the plan is a 401 ( k ) plan and includes an esop feature . under this plan , employee contributions of up to 6% ( 6 % ) of eligible compensation as defined by the plan may be matched annually based on pfpc performance levels . participants must be employed as of december 31 of each year to receive this annual contribution . the performance- based employer matching contribution will be made primarily in shares of pnc common stock held in treasury , except in the case of those participants who have exercised their diversification election rights to have their matching portion in other investments available within the plan . mandatory employer contributions to this plan are made in cash and include employer basic and transitional contributions . employee-directed contributions are invested in a number of investment options available under the plan , including a pnc common stock fund and several blackrock mutual funds , at the direction of the employee . effective november 22 , 2005 , we amended the plan to provide all participants the ability to diversify the matching portion of their plan account invested in shares of pnc common stock into other investments available within the plan . prior to this amendment , only participants age 50 or older were permitted to exercise this diversification option . employee benefits expense for this plan was $ 10 million in 2007 , $ 9 million in 2006 and $ 12 million in 2005 . we measured employee benefits expense as the fair value of the shares and cash contributed to the plan . we also maintain a nonqualified supplemental savings plan for certain employees . note 18 stock-based compensation we have long-term incentive award plans ( 201cincentive plans 201d ) that provide for the granting of incentive stock options , nonqualified stock options , stock appreciation rights , incentive shares/performance units , restricted stock , restricted share units , other share-based awards and dollar-denominated awards to executives and , other than incentive stock options , to non-employee directors . certain incentive plan awards may be paid in stock , cash or a combination of stock and cash . we grant a substantial portion of our stock-based compensation awards during the first quarter of the year . as of december 31 , 2007 , no incentive stock options or stock appreciation rights were outstanding . nonqualified stock options options are granted at exercise prices not less than the market value of common stock on the grant date . generally , options granted since 1999 become exercisable in installments after the grant date . options granted prior to 1999 are mainly exercisable 12 months after the grant date . no option may be exercisable after 10 years from its grant date . payment of the option exercise price may be in cash or shares of common stock at market value on the exercise date . the exercise price may be paid in previously owned shares . generally , options granted under the incentive plans vest ratably over a three-year period as long as the grantee remains an employee or , in certain cases , retires from pnc . for all options granted prior to the adoption of sfas 123r , we recognized compensation expense over the three-year vesting period . if an employee retired prior to the end of the three- year vesting period , we accelerated the expensing of all unrecognized compensation costs at the retirement date . as required under sfas 123r , we recognize compensation expense for options granted to retirement-eligible employees after january 1 , 2006 in the period granted , in accordance with the service period provisions of the options . a summary of stock option activity follows: .
|options outstanding atdecember 31shares in thousands|per option exercise price|per option weighted- average exercise price|shares|
|december 31 2006|$ 37.43 2013 $ 76.00|$ 59.29|14950|
|granted|68.06 2013 76.23|72.95|2170|
|exercised|37.43 2013 74.59|54.34|-2625 ( 2625 )|
|cancelled|38.17 2013 75.85|69.15|-169 ( 169 )|
|december 31 2007|$ 37.43 2013 $ 76.23|$ 62.15|14326|
.
Question: what was the net change in weighted average exercise price for 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: |
1325.0 | Context:the aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2010 , 2009 , and 2008 ( 3 ) multilateral loans include loans funded and guaranteed by bilaterals , multilaterals , development banks and other similar institutions . ( 4 ) non-recourse debt of $ 708 million as of december 31 , 2009 was excluded from non-recourse debt and included in current and long-term liabilities of held for sale and discontinued businesses in the accompanying consolidated balance sheets . non-recourse debt as of december 31 , 2010 is scheduled to reach maturity as set forth in the table below : december 31 , annual maturities ( in millions ) .
|december 31,|annual maturities ( in millions )|
|2011|$ 2577|
|2012|657|
|2013|953|
|2014|1839|
|2015|1138|
|thereafter|7957|
|total non-recourse debt|$ 15121|
as of december 31 , 2010 , aes subsidiaries with facilities under construction had a total of approximately $ 432 million of committed but unused credit facilities available to fund construction and other related costs . excluding these facilities under construction , aes subsidiaries had approximately $ 893 million in a number of available but unused committed revolving credit lines to support their working capital , debt service reserves and other business needs . these credit lines can be used in one or more of the following ways : solely for borrowings ; solely for letters of credit ; or a combination of these uses . the weighted average interest rate on borrowings from these facilities was 3.24% ( 3.24 % ) at december 31 , 2010 . non-recourse debt covenants , restrictions and defaults the terms of the company 2019s non-recourse debt include certain financial and non-financial covenants . these covenants are limited to subsidiary activity and vary among the subsidiaries . these covenants may include but are not limited to maintenance of certain reserves , minimum levels of working capital and limitations on incurring additional indebtedness . compliance with certain covenants may not be objectively determinable . as of december 31 , 2010 and 2009 , approximately $ 803 million and $ 653 million , respectively , of restricted cash was maintained in accordance with certain covenants of the non-recourse debt agreements , and these amounts were included within 201crestricted cash 201d and 201cdebt service reserves and other deposits 201d in the accompanying consolidated balance sheets . various lender and governmental provisions restrict the ability of certain of the company 2019s subsidiaries to transfer their net assets to the parent company . such restricted net assets of subsidiaries amounted to approximately $ 5.4 billion at december 31 , 2010. .
Question: as of december 31 , 2010 , what was the total committed but unused credit facilities 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: |
4.47205 | Context:jpmorgan chase & co . / 2007 annual report 117 nonrecurring fair value changes the following table presents the total change in value of financial instruments for which a fair value adjustment has been included in the consolidated statement of income for the year ended december 31 , 2007 , related to financial instruments held at december 31 , 2007 . year ended december 31 , 2007 ( in millions ) 2007 .
|year ended december 31 2007 ( in millions )|2007|
|loans|$ -720 ( 720 )|
|other assets|-161 ( 161 )|
|accounts payable accrued expense and other liabilities|2|
|total nonrecurring fair value gains ( losses )|$ -879 ( 879 )|
in the above table , loans principally include changes in fair value for loans carried on the balance sheet at the lower of cost or fair value ; and accounts payable , accrued expense and other liabilities principally includes the change in fair value for unfunded lending-related commitments within the leveraged lending portfolio . level 3 assets analysis level 3 assets ( including assets measured at the lower of cost or fair value ) were 5% ( 5 % ) of total firm assets at december 31 , 2007 . these assets increased during 2007 principally during the second half of the year , when liquidity in mortgages and other credit products fell dra- matically . the increase was primarily due to an increase in leveraged loan balances within level 3 as the ability of the firm to syndicate this risk to third parties became limited by the credit environment . in addi- tion , there were transfers from level 2 to level 3 during 2007 . these transfers were principally for instruments within the mortgage market where inputs which are significant to their valuation became unob- servable during the year . subprime and alt-a whole loans , subprime home equity securities , commercial mortgage-backed mezzanine loans and credit default swaps referenced to asset-backed securities consti- tuted the majority of the affected instruments , reflecting a significant decline in liquidity in these instruments in the third and fourth quarters of 2007 , as new issue activity was nonexistent and independent pric- ing information was no longer available for these assets . transition in connection with the initial adoption of sfas 157 , the firm recorded the following on january 1 , 2007 : 2022 a cumulative effect increase to retained earnings of $ 287 million , primarily related to the release of profit previously deferred in accordance with eitf 02-3 ; 2022 an increase to pretax income of $ 166 million ( $ 103 million after-tax ) related to the incorporation of the firm 2019s creditworthiness in the valuation of liabilities recorded at fair value ; and 2022 an increase to pretax income of $ 464 million ( $ 288 million after-tax ) related to valuations of nonpublic private equity investments . prior to the adoption of sfas 157 , the firm applied the provisions of eitf 02-3 to its derivative portfolio . eitf 02-3 precluded the recogni- tion of initial trading profit in the absence of : ( a ) quoted market prices , ( b ) observable prices of other current market transactions or ( c ) other observable data supporting a valuation technique . in accor- dance with eitf 02-3 , the firm recognized the deferred profit in principal transactions revenue on a systematic basis ( typically straight- line amortization over the life of the instruments ) and when observ- able market data became available . prior to the adoption of sfas 157 the firm did not incorporate an adjustment into the valuation of liabilities carried at fair value on the consolidated balance sheet . commencing january 1 , 2007 , in accor- dance with the requirements of sfas 157 , an adjustment was made to the valuation of liabilities measured at fair value to reflect the credit quality of the firm . prior to the adoption of sfas 157 , privately held investments were initially valued based upon cost . the carrying values of privately held investments were adjusted from cost to reflect both positive and neg- ative changes evidenced by financing events with third-party capital providers . the investments were also subject to ongoing impairment reviews by private equity senior investment professionals . the increase in pretax income related to nonpublic private equity investments in connection with the adoption of sfas 157 was due to there being sufficient market evidence to support an increase in fair values using the sfas 157 methodology , although there had not been an actual third-party market transaction related to such investments . financial disclosures required by sfas 107 sfas 107 requires disclosure of the estimated fair value of certain financial instruments and the methods and significant assumptions used to estimate their fair values . many but not all of the financial instruments held by the firm are recorded at fair value on the consolidated balance sheets . financial instruments within the scope of sfas 107 that are not carried at fair value on the consolidated balance sheets are discussed below . additionally , certain financial instruments and all nonfinancial instruments are excluded from the scope of sfas 107 . accordingly , the fair value disclosures required by sfas 107 provide only a partial estimate of the fair value of jpmorgan chase . for example , the firm has developed long-term relationships with its customers through its deposit base and credit card accounts , commonly referred to as core deposit intangibles and credit card relationships . in the opinion of management , these items , in the aggregate , add significant value to jpmorgan chase , but their fair value is not disclosed in this note . financial instruments for which fair value approximates carrying value certain financial instruments that are not carried at fair value on the consolidated balance sheets are carried at amounts that approxi- mate fair value due to their short-term nature and generally negligi- ble credit risk . these instruments include cash and due from banks , deposits with banks , federal funds sold , securities purchased under resale agreements with short-dated maturities , securities borrowed , short-term receivables and accrued interest receivable , commercial paper , federal funds purchased , securities sold under repurchase agreements with short-dated maturities , other borrowed funds , accounts payable and accrued liabilities . in addition , sfas 107 requires that the fair value for deposit liabilities with no stated matu- rity ( i.e. , demand , savings and certain money market deposits ) be equal to their carrying value . sfas 107 does not allow for the recog- nition of the inherent funding value of these instruments. .
Question: in 2007 what was the ratio of the changes in loans to other assets | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
86.0 | Context:management 2019s discussion and analysis 2011 versus 2010 . net revenues in investing & lending were $ 2.14 billion and $ 7.54 billion for 2011 and 2010 , respectively . during 2011 , investing & lending results reflected an operating environment characterized by a significant decline in equity markets in europe and asia , and unfavorable credit markets that were negatively impacted by increased concerns regarding the weakened state of global economies , including heightened european sovereign debt risk . results for 2011 included a loss of $ 517 million from our investment in the ordinary shares of icbc and net gains of $ 1.12 billion from other investments in equities , primarily in private equities , partially offset by losses from public equities . in addition , investing & lending included net revenues of $ 96 million from debt securities and loans . this amount includes approximately $ 1 billion of unrealized losses related to relationship lending activities , including the effect of hedges , offset by net interest income and net gains from other debt securities and loans . results for 2011 also included other net revenues of $ 1.44 billion , principally related to our consolidated investment entities . results for 2010 included a gain of $ 747 million from our investment in the ordinary shares of icbc , a net gain of $ 2.69 billion from other investments in equities , a net gain of $ 2.60 billion from debt securities and loans and other net revenues of $ 1.51 billion , principally related to our consolidated investment entities . the net gain from other investments in equities was primarily driven by an increase in global equity markets , which resulted in appreciation of both our public and private equity positions and provided favorable conditions for initial public offerings . the net gains and net interest from debt securities and loans primarily reflected the impact of tighter credit spreads and favorable credit markets during the year , which provided favorable conditions for borrowers to refinance . operating expenses were $ 2.67 billion for 2011 , 20% ( 20 % ) lower than 2010 , due to decreased compensation and benefits expenses , primarily resulting from lower net revenues . this decrease was partially offset by the impact of impairment charges related to consolidated investments during 2011 . pre-tax loss was $ 531 million in 2011 , compared with pre-tax earnings of $ 4.18 billion in 2010 . investment management investment management provides investment management services and offers investment products ( primarily through separately managed accounts and commingled vehicles , such as mutual funds and private investment funds ) across all major asset classes to a diverse set of institutional and individual clients . investment management also offers wealth advisory services , including portfolio management and financial counseling , and brokerage and other transaction services to high-net-worth individuals and families . assets under supervision include assets under management and other client assets . assets under management include client assets where we earn a fee for managing assets on a discretionary basis . this includes net assets in our mutual funds , hedge funds , credit funds and private equity funds ( including real estate funds ) , and separately managed accounts for institutional and individual investors . other client assets include client assets invested with third-party managers , private bank deposits and assets related to advisory relationships where we earn a fee for advisory and other services , but do not have discretion over the assets . assets under supervision do not include the self-directed brokerage accounts of our clients . assets under management and other client assets typically generate fees as a percentage of net asset value , which vary by asset class and are affected by investment performance as well as asset inflows and redemptions . in certain circumstances , we are also entitled to receive incentive fees based on a percentage of a fund 2019s return or when the return exceeds a specified benchmark or other performance targets . incentive fees are recognized only when all material contingencies are resolved . the table below presents the operating results of our investment management segment. .
|in millions|year ended december 2012|year ended december 2011|year ended december 2010|
|management and other fees|$ 4105|$ 4188|$ 3956|
|incentive fees|701|323|527|
|transaction revenues|416|523|531|
|total net revenues|5222|5034|5014|
|operating expenses|4294|4020|4082|
|pre-tax earnings|$ 928|$ 1014|$ 932|
56 goldman sachs 2012 annual report .
Question: for the investment management segment , what was the change in pre-tax earnings between 2012 and 2011 , in millions? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.0523 | Context:notes to consolidated financial statements of annual compensation was made . for the years ended december 31 , 2009 , 2008 and , 2007 , we made matching contributions of approxi- mately $ 450000 , $ 503000 and $ 457000 , respectively . note 17 / commitments and contingencies we and our operating partnership are not presently involved in any mate- rial litigation nor , to our knowledge , is any material litigation threatened against us or our properties , other than routine litigation arising in the ordinary course of business . management believes the costs , if any , incurred by us and our operating partnership related to this litigation will not materially affect our financial position , operating results or liquidity . we have entered into employment agreements with certain executives , which expire between june 2010 and january 2013 . the minimum cash-based compensation , including base salary and guaran- teed bonus payments , associated with these employment agreements totals approximately $ 7.8 million for 2010 . in march 1998 , we acquired an operating sub-leasehold posi- tion at 420 lexington avenue . the operating sub-leasehold position required annual ground lease payments totaling $ 6.0 million and sub- leasehold position payments totaling $ 1.1 million ( excluding an operating sub-lease position purchased january 1999 ) . in june 2007 , we renewed and extended the maturity date of the ground lease at 420 lexington avenue through december 31 , 2029 , with an option for further exten- sion through 2080 . ground lease rent payments through 2029 will total approximately $ 10.9 million per year . thereafter , the ground lease will be subject to a revaluation by the parties thereto . in june 2009 , we acquired an operating sub-leasehold posi- tion at 420 lexington avenue for approximately $ 7.7 million . these sub-leasehold positions were scheduled to mature in december 2029 . in october 2009 , we acquired the remaining sub-leasehold position for $ 7.6 million . the property located at 711 third avenue operates under an operating sub-lease , which expires in 2083 . under the sub-lease , we are responsible for ground rent payments of $ 1.55 million annually through july 2011 on the 50% ( 50 % ) portion of the fee we do not own . the ground rent is reset after july 2011 based on the estimated fair market value of the property . we have an option to buy out the sub-lease at a fixed future date . the property located at 461 fifth avenue operates under a ground lease ( approximately $ 2.1 million annually ) with a term expiration date of 2027 and with two options to renew for an additional 21 years each , followed by a third option for 15 years . we also have an option to purchase the ground lease for a fixed price on a specific date . the property located at 625 madison avenue operates under a ground lease ( approximately $ 4.6 million annually ) with a term expiration date of 2022 and with two options to renew for an additional 23 years . the property located at 1185 avenue of the americas oper- ates under a ground lease ( approximately $ 8.5 million in 2010 and $ 6.9 million annually thereafter ) with a term expiration of 2020 and with an option to renew for an additional 23 years . in april 1988 , the sl green predecessor entered into a lease agreement for the property at 673 first avenue , which has been capitalized for financial statement purposes . land was estimated to be approximately 70% ( 70 % ) of the fair market value of the property . the portion of the lease attributed to land is classified as an operating lease and the remainder as a capital lease . the initial lease term is 49 years with an option for an additional 26 years . beginning in lease years 11 and 25 , the lessor is entitled to additional rent as defined by the lease agreement . we continue to lease the 673 first avenue property , which has been classified as a capital lease with a cost basis of $ 12.2 million and cumulative amortization of $ 5.5 million and $ 5.2 million at december 31 , 2009 and 2008 , respectively . the following is a schedule of future minimum lease payments under capital leases and noncancellable operating leases with initial terms in excess of one year as of december 31 , 2009 ( in thousands ) : non-cancellable december 31 , capital lease operating leases .
|december 31,|capital lease|non-cancellable operating leases|
|2010|$ 1451|$ 31347|
|2011|1555|28929|
|2012|1555|28179|
|2013|1555|28179|
|2014|1555|28179|
|thereafter|45649|580600|
|total minimum lease payments|53320|$ 725413|
|less amount representing interest|-36437 ( 36437 )||
|present value of net minimum lease payments|$ 16883||
note 18 / financial instruments : derivatives and hedging we recognize all derivatives on the balance sheet at fair value . derivatives that are not hedges must be adjusted to fair value through income . if a derivative is a hedge , depending on the nature of the hedge , changes in the fair value of the derivative will either be offset against the change in fair value of the hedged asset , liability , or firm commitment through earn- ings , or recognized in other comprehensive income until the hedged item is recognized in earnings . the ineffective portion of a derivative 2019s change in fair value will be immediately recognized in earnings . reported net income and stockholders 2019 equity may increase or decrease prospectively , depending on future levels of interest rates and other variables affecting the fair values of derivative instruments and hedged items , but will have no effect on cash flows. .
Question: in 2009 what was the percent of the capital leases of the total future minimum lease payments that were due in 2012 | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
1.0 | Context:extrusions ( afe ) , which are all included in the engineered products and solutions segment , global rolled products , and building and construction systems , which is included in the transportation and construction solutions segment . the estimated fair value for five of the six reporting units exceeded its respective carrying value , resulting in no impairment . however , the estimated fair value of afe was lower than its carrying value . as such , in the fourth quarter of 2017 , arconic recorded an impairment for the full amount of goodwill in the afe reporting unit of $ 719 . the decrease in the afe fair value was primarily due to unfavorable performance that is impacting operating margins and a higher discount rate due to an increase in the risk-free rate of return , while the carrying value increased compared to prior year . goodwill impairment tests in 2016 and 2015 indicated that goodwill was not impaired for any of the company 2019s reporting units , except for the soft alloy extrusion business in brazil which is included in the transportation and construction solutions segment . in the fourth quarter of 2015 , for the soft alloy extrusion business in brazil , the estimated fair value as determined by the dcf model was lower than the associated carrying value of its reporting unit 2019s goodwill . as a result , management determined that the implied fair value of the reporting unit 2019s goodwill was zero . arconic recorded a goodwill impairment of $ 25 in 2015 . the impairment of goodwill resulted from headwinds from the downturn in the brazilian economy and the continued erosion of gross margin despite the execution of cost reduction strategies . as a result of the goodwill impairment , there is no goodwill remaining for the reporting unit . other intangible assets . intangible assets with indefinite useful lives are not amortized while intangible assets with finite useful lives are amortized generally on a straight-line basis over the periods benefited . the following table details the weighted- average useful lives of software and other intangible assets by reporting segment ( numbers in years ) : .
|segment|software|other intangible assets|
|engineered products and solutions|6|34|
|global rolled products|6|9|
|transportation and construction solutions|5|16|
revenue recognition . arconic recognizes revenues when title , ownership , and risk of loss pass to the customer , all of which occurs upon shipment or delivery of the product and is based on the applicable shipping terms . the shipping terms vary across all businesses and depend on the product , the country of origin , and the type of transportation ( truck , train , or vessel ) . in certain circumstances , arconic receives advanced payments from its customers for product to be delivered in future periods . these advanced payments are recorded as deferred revenue until the product is delivered and title and risk of loss have passed to the customer in accordance with the terms of the contract . deferred revenue is included in other current liabilities and other noncurrent liabilities and deferred credits on the accompanying consolidated balance sheet . environmental matters . expenditures for current operations are expensed or capitalized , as appropriate . expenditures relating to existing conditions caused by past operations , which will not contribute to future revenues , are expensed . liabilities are recorded when remediation costs are probable and can be reasonably estimated . the liability may include costs such as site investigations , consultant fees , feasibility studies , outside contractors , and monitoring expenses . estimates are generally not discounted or reduced by potential claims for recovery . claims for recovery are recognized when probable and as agreements are reached with third parties . the estimates also include costs related to other potentially responsible parties to the extent that arconic has reason to believe such parties will not fully pay their proportionate share . the liability is continuously reviewed and adjusted to reflect current remediation progress , prospective estimates of required activity , and other factors that may be relevant , including changes in technology or regulations . litigation matters . for asserted claims and assessments , liabilities are recorded when an unfavorable outcome of a matter is deemed to be probable and the loss is reasonably estimable . management determines the likelihood of an unfavorable outcome based on many factors such as the nature of the matter , available defenses and case strategy , progress of the matter , views and opinions of legal counsel and other advisors , applicability and success of appeals processes , and the outcome of similar historical matters , among others . once an unfavorable outcome is deemed probable , management weighs the probability of estimated losses , and the most reasonable loss estimate is recorded . if an unfavorable outcome of a matter is deemed to be reasonably possible , then the matter is disclosed and no liability is recorded . with respect to unasserted claims or assessments , management must first determine that the probability that an assertion will be made is likely , then , a determination as to the likelihood of an unfavorable outcome and the ability to reasonably estimate the potential loss is made . legal matters are reviewed on a continuous basis to determine if there has been a change in management 2019s judgment regarding the likelihood of an unfavorable outcome or the estimate of a potential loss . income taxes . the provision for income taxes is determined using the asset and liability approach of accounting for income taxes . under this approach , the provision for income taxes represents income taxes paid or payable ( or received or receivable ) .
Question: what is the difference between the weighted- average useful lives of software for the global rolled products segment and the transportation and construction solutions one? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
1.82366 | Context:during 2005 , we amended our $ 1.0 billion unsecured revolving credit facility to extend its maturity date from march 27 , 2008 to march 27 , 2010 , and reduce the effective interest rate to libor plus 1.0% ( 1.0 % ) and the commitment fee to 0.2% ( 0.2 % ) of the undrawn portion of the facility at december 31 , 2005 . in addition , in 2005 , we entered into two $ 100.0 million unsecured term loans , due 2010 , at an effective interest rate of libor plus 0.8% ( 0.8 % ) at december 31 , 2005 . during 2004 , we entered into an eight-year , $ 225.0 million unse- cured term loan , at libor plus 1.75% ( 1.75 % ) , which was amended in 2005 to reduce the effective interest rate to libor plus 1.0% ( 1.0 % ) at december 31 , 2005 . the liquid yield option 2122 notes and the zero coupon convertible notes are unsecured zero coupon bonds with yields to maturity of 4.875% ( 4.875 % ) and 4.75% ( 4.75 % ) , respectively , due 2021 . each liquid yield option 2122 note and zero coupon convertible note was issued at a price of $ 381.63 and $ 391.06 , respectively , and will have a principal amount at maturity of $ 1000 . each liquid yield option 2122 note and zero coupon convertible note is convertible at the option of the holder into 11.7152 and 15.6675 shares of common stock , respec- tively , if the market price of our common stock reaches certain lev- els . these conditions were met at december 31 , 2005 and 2004 for the zero coupon convertible notes and at december 31 , 2004 for the liquid yield option 2122 notes . since february 2 , 2005 , we have the right to redeem the liquid yield option 2122 notes and commencing on may 18 , 2006 , we will have the right to redeem the zero coupon con- vertible notes at their accreted values for cash as a whole at any time , or from time to time in part . holders may require us to pur- chase any outstanding liquid yield option 2122 notes at their accreted value on february 2 , 2011 and any outstanding zero coupon con- vertible notes at their accreted value on may 18 , 2009 and may 18 , 2014 . we may choose to pay the purchase price in cash or common stock or a combination thereof . during 2005 , holders of our liquid yield option 2122 notes and zero coupon convertible notes converted approximately $ 10.4 million and $ 285.0 million , respectively , of the accreted value of these notes into approximately 0.3 million and 9.4 million shares , respec- tively , of our common stock and cash for fractional shares . in addi- tion , we called for redemption $ 182.3 million of the accreted bal- ance of outstanding liquid yield option 2122 notes . most holders of the liquid yield option 2122 notes elected to convert into shares of our common stock , rather than redeem for cash , resulting in the issuance of approximately 4.5 million shares . during 2005 , we prepaid a total of $ 297.0 million on a term loan secured by a certain celebrity ship and on a variable rate unsecured term loan . in 1996 , we entered into a $ 264.0 million capital lease to finance splendour of the seas and in 1995 we entered into a $ 260.0 million capital lease to finance legend of the seas . during 2005 , we paid $ 335.8 million in connection with the exercise of purchase options on these capital lease obligations . under certain of our agreements , the contractual interest rate and commitment fee vary with our debt rating . the unsecured senior notes and senior debentures are not redeemable prior to maturity . our debt agreements contain covenants that require us , among other things , to maintain minimum net worth and fixed charge cov- erage ratio and limit our debt to capital ratio . we are in compliance with all covenants as of december 31 , 2005 . following is a schedule of annual maturities on long-term debt as of december 31 , 2005 for each of the next five years ( in thousands ) : .
|2006|$ 600883|
|2007|329493|
|2008|245257|
|2009 ( 1 )|361449|
|2010|687376|
1 the $ 137.9 million accreted value of the zero coupon convertible notes at december 31 , 2005 is included in year 2009 . the holders of our zero coupon convertible notes may require us to purchase any notes outstanding at an accreted value of $ 161.7 mil- lion on may 18 , 2009 . this accreted value was calculated based on the number of notes outstanding at december 31 , 2005 . we may choose to pay any amounts in cash or common stock or a combination thereof . note 6 . shareholders 2019 equity on september 25 , 2005 , we announced that we and an investment bank had finalized a forward sale agreement relating to an asr transaction . as part of the asr transaction , we purchased 5.5 million shares of our common stock from the investment bank at an initial price of $ 45.40 per share . total consideration paid to repurchase such shares , including commissions and other fees , was approxi- mately $ 249.1 million and was recorded in shareholders 2019 equity as a component of treasury stock . the forward sale contract matured in february 2006 . during the term of the forward sale contract , the investment bank purchased shares of our common stock in the open market to settle its obliga- tion related to the shares borrowed from third parties and sold to us . upon settlement of the contract , we received 218089 additional shares of our common stock . these incremental shares will be recorded in shareholders 2019 equity as a component of treasury stock in the first quarter of 2006 . our employee stock purchase plan ( 201cespp 201d ) , which has been in effect since january 1 , 1994 , facilitates the purchase by employees of up to 800000 shares of common stock . offerings to employees are made on a quarterly basis . subject to certain limitations , the pur- chase price for each share of common stock is equal to 90% ( 90 % ) of the average of the market prices of the common stock as reported on the new york stock exchange on the first business day of the pur- chase period and the last business day of each month of the pur- chase period . shares of common stock of 14476 , 13281 and 21280 38 royal caribbean cruises ltd . notes to the consolidated financial statements ( continued ) .
Question: as of december 31 , 2005 what was the ratio of the annual maturities on long-term debt in 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: |
810000.0 | Context:stock performance graph the following graph provides a comparison of five year cumulative total stockholder returns of teleflex common stock , the standard & poor 2019s ( s&p ) 500 stock index and the s&p 500 healthcare equipment & supply index . the annual changes for the five-year period shown on the graph are based on the assumption that $ 100 had been invested in teleflex common stock and each index on december 31 , 2010 and that all dividends were reinvested . market performance .
|company / index|2010|2011|2012|2013|2014|2015|
|teleflex incorporated|100|117|138|185|229|266|
|s&p 500 index|100|102|118|157|178|181|
|s&p 500 healthcare equipment & supply index|100|99|116|148|187|199|
s&p 500 healthcare equipment & supply index 100 99 116 148 187 199 .
Question: what is the total return of an investment of $ 1000000 in s&p 500 index in 2010 and sold 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: |
344510.86957 | Context:the goldman sachs group , inc . and subsidiaries management 2019s discussion and analysis 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 additional information about expenses that may arise from litigation and regulatory proceedings . the table below presents our operating expenses and total staff ( which includes employees , consultants and temporary staff ) . .
|$ in millions|year ended december 2015|year ended december 2014|year ended december 2013|
|compensation and benefits|$ 12678|$ 12691|$ 12613|
|brokerage clearing exchange anddistribution fees|2576|2501|2341|
|market development|557|549|541|
|communications and technology|806|779|776|
|depreciation and amortization|991|1337|1322|
|occupancy|772|827|839|
|professional fees|963|902|930|
|insurance reserves1|2014|2014|176|
|other expenses2|5699|2585|2931|
|total non-compensation expenses|12364|9480|9856|
|total operating expenses|$ 25042|$ 22171|$ 22469|
|total staff at period-end|36800|34000|32900|
1 . consists of changes in reserves related to our americas reinsurance business , including interest credited to policyholder account balances , and expenses related to property catastrophe reinsurance claims . in april 2013 , we completed the sale of a majority stake in our americas reinsurance business and no longer consolidate this business . 2 . includes provisions of $ 3.37 billion recorded during 2015 for the agreement in principle with the rmbs working group . see note 27 to the consolidated financial statements for further information about this agreement in principle . 2015 versus 2014 . operating expenses on the consolidated statements of earnings were $ 25.04 billion for 2015 , 13% ( 13 % ) higher than 2014 . compensation and benefits expenses on the consolidated statements of earnings were $ 12.68 billion for 2015 , essentially unchanged compared with 2014 . the ratio of compensation and benefits to net revenues for 2015 was 37.5% ( 37.5 % ) compared with 36.8% ( 36.8 % ) for 2014 . total staff increased 8% ( 8 % ) during 2015 , primarily due to activity levels in certain businesses and continued investment in regulatory compliance . non-compensation expenses on the consolidated statements of earnings were $ 12.36 billion for 2015 , 30% ( 30 % ) higher than 2014 , due to significantly higher net provisions for mortgage-related litigation and regulatory matters , which are included in other expenses . this increase was partially offset by lower depreciation and amortization expenses , primarily reflecting lower impairment charges related to consolidated investments , and a reduction in expenses related to the sale of metro in the fourth quarter of 2014 . net provisions for litigation and regulatory proceedings for 2015 were $ 4.01 billion compared with $ 754 million for 2014 ( both primarily comprised of net provisions for mortgage-related matters ) . 2015 included a $ 148 million charitable contribution to goldman sachs gives , our donor-advised fund . compensation was reduced to fund this charitable contribution to goldman sachs gives . the firm asks its participating managing directors to make recommendations regarding potential charitable recipients for this contribution . 2014 versus 2013 . operating expenses on the consolidated statements of earnings were $ 22.17 billion for 2014 , essentially unchanged compared with 2013 . compensation and benefits expenses on the consolidated statements of earnings were $ 12.69 billion for 2014 , essentially unchanged compared with 2013 . the ratio of compensation and benefits to net revenues for 2014 was 36.8% ( 36.8 % ) compared with 36.9% ( 36.9 % ) for 2013 . total staff increased 3% ( 3 % ) during 2014 . non-compensation expenses on the consolidated statements of earnings were $ 9.48 billion for 2014 , 4% ( 4 % ) lower than 2013 . the decrease compared with 2013 included a decrease in other expenses , due to lower net provisions for litigation and regulatory proceedings and lower operating expenses related to consolidated investments , as well as a decline in insurance reserves , reflecting the sale of our americas reinsurance business in 2013 . these decreases were partially offset by an increase in brokerage , clearing , exchange and distribution fees . net provisions for litigation and regulatory proceedings for 2014 were $ 754 million compared with $ 962 million for 2013 ( both primarily comprised of net provisions for mortgage-related matters ) . 2014 included a charitable contribution of $ 137 million to goldman sachs gives , our donor-advised fund . compensation was reduced to fund this charitable contribution to goldman sachs gives . the firm asks its participating managing directors to make recommendations regarding potential charitable recipients for this contribution . 58 goldman sachs 2015 form 10-k .
Question: what the average compensation and benefits per head count 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: |
2.22108 | Context:additional information regarding these and other accounting pronouncements is included in note 1 to the consolidated financial statements . financial condition and liquidity the company generates significant ongoing cash flow . net debt decreased significantly in 2004 , but increased in 2005 , primarily related to the $ 1.36 billion cuno acquisition . at december 31 .
|( millions )|2005|2004|2003|
|total debt|$ 2381|$ 2821|$ 2937|
|less : cash & cash equiv .|1072|2757|1836|
|net debt|$ 1309|$ 64|$ 1101|
3m believes its ongoing cash flows provide ample cash to fund expected investments and capital expenditures . the company has an aa credit rating from standard & poor 2019s and an aa1 credit rating from moody 2019s investors service . the company has sufficient access to capital markets to meet currently anticipated growth and acquisition investment funding needs . the company does not utilize derivative instruments linked to the company 2019s stock . however , the company does have contingently convertible debt that , if conditions for conversion are met , is convertible into shares of 3m common stock ( refer to note 8 in this document ) . the company 2019s financial condition and liquidity at december 31 , 2005 , remained strong . various assets and liabilities , including cash and short-term debt , can fluctuate significantly from month-to-month depending on short-term liquidity needs . working capital ( defined as current assets minus current liabilities ) totaled $ 1.877 billion at december 31 , 2005 , compared with $ 2.649 billion at december 31 , 2004 . this decrease was primarily related to a decrease in cash and cash equivalents ( $ 1.685 billion ) partially offset by a decrease in debt classified as short-term borrowings and current portion of long-term debt ( $ 1.022 billion ) . the cash and cash equivalents balance was impacted by the acquisition of cuno and repayment of debt . the company uses various working capital measures that place emphasis and focus on certain working capital assets and liabilities . these measures are not defined under u.s . generally accepted accounting principles and may not be computed the same as similarly titled measures used by other companies . one of the primary working capital measures 3m uses is a combined index , which includes accounts receivables , inventory and accounts payable . this combined index ( defined as quarterly net sales 2013 fourth quarter at year-end 2013 multiplied by four , divided by ending net accounts receivable plus inventory less accounts payable ) was 5.7 at december 31 , 2005 , down from 5.8 at december 31 , 2004 . excluding cuno , net working capital turns at december 31 , 2005 , were 5.8 , the same as at december 31 , 2004 . receivables increased $ 46 million , or 1.6% ( 1.6 % ) , compared with december 31 , 2004 . at december 31 , 2005 , the cuno acquisition increased accounts receivable by $ 88 million . currency translation ( due to the stronger u.s dollar ) reduced accounts receivable by $ 231 million year-on-year . inventories increased $ 265 million , or 14.0% ( 14.0 % ) , compared with december 31 , 2004 . at december 31 , 2005 , the cuno acquisition increased inventories by $ 56 million . currency translation reduced inventories by $ 89 million year-on-year . accounts payable increased $ 88 million compared with december 31 , 2004 , with cuno accounting for $ 18 million of this increase . cash flows from operating , investing and financing activities are provided in the tables that follow . individual amounts in the consolidated statement of cash flows exclude the effects of acquisitions , divestitures and exchange rate impacts , which are presented separately in the cash flows . thus , the amounts presented in the following operating , investing and financing activities tables reflect changes in balances from period to period adjusted for these effects. .
Question: in 2005 what was the ratio of the debt to the cash | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.03697 | Context:jpmorgan chase & co./2017 annual report 53 net interest income excluding cib 2019s markets businesses in addition to reviewing net interest income on a managed basis , management also reviews net interest income excluding net interest income arising from cib 2019s markets businesses to assess the performance of the firm 2019s lending , investing ( including asset-liability management ) and deposit-raising activities . this net interest income is referred to as non-markets related net interest income . cib 2019s markets businesses are fixed income markets and equity markets . management believes that disclosure of non-markets related net interest income provides investors and analysts with another measure by which to analyze the non-markets-related business trends of the firm and provides a comparable measure to other financial institutions that are primarily focused on lending , investing and deposit-raising activities . the data presented below are non-gaap financial measures due to the exclusion of markets related net interest income arising from cib . year ended december 31 , ( in millions , except rates ) 2017 2016 2015 net interest income 2013 managed basis ( a ) ( b ) $ 51410 $ 47292 $ 44620 less : cib markets net interest income ( c ) 4630 6334 5298 net interest income excluding cib markets ( a ) $ 46780 $ 40958 $ 39322 average interest-earning assets $ 2180592 $ 2101604 $ 2088242 less : average cib markets interest-earning assets ( c ) 540835 520307 510292 average interest-earning assets excluding cib markets $ 1639757 $ 1581297 $ 1577950 net interest yield on average interest-earning assets 2013 managed basis 2.36% ( 2.36 % ) 2.25% ( 2.25 % ) 2.14% ( 2.14 % ) net interest yield on average cib markets interest-earning assets ( c ) 0.86 1.22 1.04 net interest yield on average interest-earning assets excluding cib markets 2.85% ( 2.85 % ) 2.59% ( 2.59 % ) 2.49% ( 2.49 % ) ( a ) interest includes the effect of related hedges . taxable-equivalent amounts are used where applicable . ( b ) for a reconciliation of net interest income on a reported and managed basis , see reconciliation from the firm 2019s reported u.s . gaap results to managed basis on page 52 . ( c ) the amounts in this table differ from the prior-period presentation to align with cib 2019s markets businesses . for further information on cib 2019s markets businesses , see page 65 . calculation of certain u.s . gaap and non-gaap financial measures certain u.s . gaap and non-gaap financial measures are calculated as follows : book value per share ( 201cbvps 201d ) common stockholders 2019 equity at period-end / common shares at period-end overhead ratio total noninterest expense / total net revenue return on assets ( 201croa 201d ) reported net income / total average assets return on common equity ( 201croe 201d ) net income* / average common stockholders 2019 equity return on tangible common equity ( 201crotce 201d ) net income* / average tangible common equity tangible book value per share ( 201ctbvps 201d ) tangible common equity at period-end / common shares at period-end * represents net income applicable to common equity .
|year ended december 31 ( in millions except rates )|2017|2016|2015|
|net interest income 2013 managed basis ( a ) ( b )|$ 51410|$ 47292|$ 44620|
|less : cib markets net interest income ( c )|4630|6334|5298|
|net interest income excluding cib markets ( a )|$ 46780|$ 40958|$ 39322|
|average interest-earning assets|$ 2180592|$ 2101604|$ 2088242|
|less : average cib markets interest-earning assets ( c )|540835|520307|510292|
|average interest-earning assets excluding cib markets|$ 1639757|$ 1581297|$ 1577950|
|net interest yield on average interest-earning assets 2013 managed basis|2.36% ( 2.36 % )|2.25% ( 2.25 % )|2.14% ( 2.14 % )|
|net interest yield on average cib markets interest-earning assets ( c )|0.86|1.22|1.04|
|net interest yield on average interest-earning assets excluding cib markets|2.85% ( 2.85 % )|2.59% ( 2.59 % )|2.49% ( 2.49 % )|
jpmorgan chase & co./2017 annual report 53 net interest income excluding cib 2019s markets businesses in addition to reviewing net interest income on a managed basis , management also reviews net interest income excluding net interest income arising from cib 2019s markets businesses to assess the performance of the firm 2019s lending , investing ( including asset-liability management ) and deposit-raising activities . this net interest income is referred to as non-markets related net interest income . cib 2019s markets businesses are fixed income markets and equity markets . management believes that disclosure of non-markets related net interest income provides investors and analysts with another measure by which to analyze the non-markets-related business trends of the firm and provides a comparable measure to other financial institutions that are primarily focused on lending , investing and deposit-raising activities . the data presented below are non-gaap financial measures due to the exclusion of markets related net interest income arising from cib . year ended december 31 , ( in millions , except rates ) 2017 2016 2015 net interest income 2013 managed basis ( a ) ( b ) $ 51410 $ 47292 $ 44620 less : cib markets net interest income ( c ) 4630 6334 5298 net interest income excluding cib markets ( a ) $ 46780 $ 40958 $ 39322 average interest-earning assets $ 2180592 $ 2101604 $ 2088242 less : average cib markets interest-earning assets ( c ) 540835 520307 510292 average interest-earning assets excluding cib markets $ 1639757 $ 1581297 $ 1577950 net interest yield on average interest-earning assets 2013 managed basis 2.36% ( 2.36 % ) 2.25% ( 2.25 % ) 2.14% ( 2.14 % ) net interest yield on average cib markets interest-earning assets ( c ) 0.86 1.22 1.04 net interest yield on average interest-earning assets excluding cib markets 2.85% ( 2.85 % ) 2.59% ( 2.59 % ) 2.49% ( 2.49 % ) ( a ) interest includes the effect of related hedges . taxable-equivalent amounts are used where applicable . ( b ) for a reconciliation of net interest income on a reported and managed basis , see reconciliation from the firm 2019s reported u.s . gaap results to managed basis on page 52 . ( c ) the amounts in this table differ from the prior-period presentation to align with cib 2019s markets businesses . for further information on cib 2019s markets businesses , see page 65 . calculation of certain u.s . gaap and non-gaap financial measures certain u.s . gaap and non-gaap financial measures are calculated as follows : book value per share ( 201cbvps 201d ) common stockholders 2019 equity at period-end / common shares at period-end overhead ratio total noninterest expense / total net revenue return on assets ( 201croa 201d ) reported net income / total average assets return on common equity ( 201croe 201d ) net income* / average common stockholders 2019 equity return on tangible common equity ( 201crotce 201d ) net income* / average tangible common equity tangible book value per share ( 201ctbvps 201d ) tangible common equity at period-end / common shares at period-end * represents net income applicable to common equity .
Question: what was the percentage change in the average interest-earning assets excluding cib markets in 2017 | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.245 | Context:table of contents adobe inc . notes to consolidated financial statements ( continued ) stock options the 2003 plan allows us to grant options to all employees , including executive officers , outside consultants and non- employee directors . this plan will continue until the earlier of ( i ) termination by the board or ( ii ) the date on which all of the shares available for issuance under the plan have been issued and restrictions on issued shares have lapsed . option vesting periods used in the past were generally four years and expire seven years from the effective date of grant . we eliminated the use of stock option grants for all employees and non-employee directors but may choose to issue stock options in the future . performance share programs our 2018 , 2017 and 2016 performance share programs aim to help focus key employees on building stockholder value , provide significant award potential for achieving outstanding company performance and enhance the ability of the company to attract and retain highly talented and competent individuals . the executive compensation committee of our board of directors approves the terms of each of our performance share programs , including the award calculation methodology , under the terms of our 2003 plan . shares may be earned based on the achievement of an objective relative total stockholder return measured over a three-year performance period . performance share awards will be awarded and fully vest upon the later of the executive compensation committee's certification of the level of achievement or the three-year anniversary of each grant . program participants generally have the ability to receive up to 200% ( 200 % ) of the target number of shares originally granted . on january 24 , 2018 , the executive compensation committee approved the 2018 performance share program , the terms of which are similar to prior year performance share programs as discussed above . as of november 30 , 2018 , the shares awarded under our 2018 , 2017 and 2016 performance share programs are yet to be achieved . issuance of shares upon exercise of stock options , vesting of restricted stock units and performance shares , and purchases of shares under the espp , we will issue treasury stock . if treasury stock is not available , common stock will be issued . in order to minimize the impact of on-going dilution from exercises of stock options and vesting of restricted stock units and performance shares , we instituted a stock repurchase program . see note 12 for information regarding our stock repurchase programs . valuation of stock-based compensation stock-based compensation cost is measured at the grant date based on the fair value of the award . our performance share awards are valued using a monte carlo simulation model . the fair value of the awards are fixed at grant date and amortized over the longer of the remaining performance or service period . we use the black-scholes option pricing model to determine the fair value of espp shares . the determination of the fair value of stock-based payment awards on the date of grant using an option pricing model is affected by our stock price as well as assumptions regarding a number of complex and subjective variables . these variables include our expected stock price volatility over the expected term of the awards , actual and projected employee stock option exercise behaviors , a risk-free interest rate and any expected dividends . the expected term of espp shares is the average of the remaining purchase periods under each offering period . the assumptions used to value employee stock purchase rights were as follows: .
||2018|2017|2016|
|expected life ( in years )|0.5 - 2.0|0.5 - 2.0|0.5 - 2.0|
|volatility|26% ( 26 % ) - 29% ( 29 % )|22% ( 22 % ) - 27% ( 27 % )|26 - 29% ( 29 % )|
|risk free interest rate|1.54% ( 1.54 % ) - 2.52% ( 2.52 % )|0.62% ( 0.62 % ) - 1.41% ( 1.41 % )|0.37 - 1.06% ( 1.06 % )|
.
Question: what is the average volatility used to value employee stock purchase rights in 2017? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
147.06667 | Context:unconditional purchase obligations approximately $ 390 of our long-term unconditional purchase obligations relate to feedstock supply for numerous hyco ( hydrogen , carbon monoxide , and syngas ) facilities . the price of feedstock supply is principally related to the price of natural gas . however , long-term take-or-pay sales contracts to hyco customers are generally matched to the term of the feedstock supply obligations and provide recovery of price increases in the feedstock supply . due to the matching of most long-term feedstock supply obligations to customer sales contracts , we do not believe these purchase obligations would have a material effect on our financial condition or results of operations . refer to note 17 , commitments and contingencies , to the consolidated financial statements for additional information on our unconditional purchase obligations . the unconditional purchase obligations also include other product supply and purchase commitments and electric power and natural gas supply purchase obligations , which are primarily pass-through contracts with our customers . in addition , purchase commitments to spend approximately $ 540 for additional plant and equipment are included in the unconditional purchase obligations in 2016 . we also purchase materials , energy , capital equipment , supplies , and services as part of the ordinary course of business under arrangements that are not unconditional purchase obligations . the majority of such purchases are for raw materials and energy , which are obtained under requirements-type contracts at market prices . obligation for future contribution to an equity affiliate on 19 april 2015 , a joint venture between air products and acwa holding entered into a 20-year oxygen and nitrogen supply agreement to supply saudi aramco 2019s oil refinery and power plant being built in jazan , saudi arabia . air products owns 25% ( 25 % ) of the joint venture and guarantees the repayment of its share of an equity bridge loan . in total , we expect to invest approximately $ 100 in this joint venture . as of 30 september 2015 , we recorded a noncurrent liability of $ 67.5 for our obligation to make future equity contributions based on advances received by the joint venture under the loan . income tax liabilities noncurrent deferred income tax liabilities as of 30 september 2015 were $ 903.3 . tax liabilities related to unrecognized tax benefits as of 30 september 2015 were $ 97.5 . these tax liabilities were excluded from the contractual obligations table , as it is impractical to determine a cash impact by year given that payments will vary according to changes in tax laws , tax rates , and our operating results . in addition , there are uncertainties in timing of the effective settlement of our uncertain tax positions with respective taxing authorities . refer to note 23 , income taxes , to the consolidated financial statements for additional information . pension benefits the company sponsors defined benefit pension plans and defined contribution plans that cover a substantial portion of its worldwide employees . the principal defined benefit pension plans 2014the u.s . salaried pension plan and the u.k . pension plan 2014were closed to new participants in 2005 and were replaced with defined contribution plans . over the long run , the shift to defined contribution plans is expected to reduce volatility of both plan expense and contributions . the fair market value of plan assets for our defined benefit pension plans as of the 30 september 2015 measurement date decreased to $ 3916.4 from $ 4114.6 at the end of fiscal year 2014 . the projected benefit obligation for these plans was $ 4787.8 and $ 4738.6 at the end of the fiscal years 2015 and 2014 , respectively . refer to note 16 , retirement benefits , to the consolidated financial statements for comprehensive and detailed disclosures on our postretirement benefits . pension expense .
||2015|2014|2013|
|pension expense|$ 135.6|$ 135.9|$ 169.7|
|special terminations settlements and curtailments ( included above )|35.2|5.8|19.8|
|weighted average discount rate|4.0% ( 4.0 % )|4.6% ( 4.6 % )|4.0% ( 4.0 % )|
|weighted average expected rate of return on plan assets|7.4% ( 7.4 % )|7.7% ( 7.7 % )|7.7% ( 7.7 % )|
|weighted average expected rate of compensation increase|3.5% ( 3.5 % )|3.9% ( 3.9 % )|3.8% ( 3.8 % )|
.
Question: what are the average pension expenses for those three years? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.01707 | Context:impairment of long-lived assets , goodwill and intangible assets - we assess our long-lived assets for impairment based on statement 144 , 201caccounting for the impairment or disposal of long-lived assets . 201d a long-lived asset is tested for impairment whenever events or changes in circumstances indicate that its carrying amount may exceed its fair value . fair values are based on the sum of the undiscounted future cash flows expected to result from the use and eventual disposition of the assets . we assess our goodwill and intangible assets for impairment at least annually based on statement 142 , 201cgoodwill and other intangible assets . 201d there were no impairment charges resulting from the july 1 , 2007 , impairment tests and no events indicating an impairment have occurred subsequent to that date . an initial assessment is made by comparing the fair value of the operations with goodwill , as determined in accordance with statement 142 , to the book value of each reporting unit . if the fair value is less than the book value , an impairment is indicated , and we must perform a second test to measure the amount of the impairment . in the second test , we calculate the implied fair value of the goodwill by deducting the fair value of all tangible and intangible net assets of the operations with goodwill from the fair value determined in step one of the assessment . if the carrying value of the goodwill exceeds this calculated implied fair value of the goodwill , we will record an impairment charge . at december 31 , 2007 , we had $ 600.7 million of goodwill recorded on our consolidated balance sheet as shown below. .
||( thousands of dollars )|
|oneok partners|$ 431418|
|distribution|157953|
|energy services|10255|
|other|1099|
|total goodwill|$ 600725|
( thousands of dollars ) intangible assets with a finite useful life are amortized over their estimated useful life , while intangible assets with an indefinite useful life are not amortized . all intangible assets are subject to impairment testing . our oneok partners segment had $ 443.0 million of intangible assets recorded on our consolidated balance sheet as of december 31 , 2007 , of which $ 287.5 million is being amortized over an aggregate weighted-average period of 40 years , while the remaining balance has an indefinite life . during 2006 , we recorded a goodwill and asset impairment related to oneok partners 2019 black mesa pipeline of $ 8.4 million and $ 3.6 million , respectively , which were recorded as depreciation and amortization . the reduction to our net income , net of minority interests and income taxes , was $ 3.0 million . in the third quarter of 2005 , we made the decision to sell our spring creek power plant , located in oklahoma , and exit the power generation business . in october 2005 , we concluded that our spring creek power plant had been impaired and recorded an impairment expense of $ 52.2 million . this conclusion was based on our statement 144 impairment analysis of the results of operations for this plant through september 30 , 2005 , and also the net sales proceeds from the anticipated sale of the plant . the sale was completed on october 31 , 2006 . this component of our business is accounted for as discontinued operations in accordance with statement 144 . see 201cdiscontinued operations 201d on page 46 for additional information . our total unamortized excess cost over underlying fair value of net assets accounted for under the equity method was $ 185.6 million as of december 31 , 2007 and 2006 . based on statement 142 , this amount , referred to as equity method goodwill , should continue to be recognized in accordance with apb opinion no . 18 , 201cthe equity method of accounting for investments in common stock . 201d accordingly , we included this amount in investment in unconsolidated affiliates on our accompanying consolidated balance sheets . pension and postretirement employee benefits - we have defined benefit retirement plans covering certain full-time employees . we sponsor welfare plans that provide postretirement medical and life insurance benefits to certain employees who retire with at least five years of service . our actuarial consultant calculates the expense and liability related to these plans and uses statistical and other factors that attempt to anticipate future events . these factors include assumptions about the discount rate , expected return on plan assets , rate of future compensation increases , age and employment periods . in determining the projected benefit obligations and costs , assumptions can change from period to period and result in material changes in the costs and liabilities we recognize . see note j of the notes to consolidated financial statements in this annual report on form 10-k for additional information. .
Question: what percentage of total goodwill does energy services represent at december 31 , 2007? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.08561 | Context:american tower corporation and subsidiaries notes to consolidated financial statements the allocation of the purchase price was finalized during the year ended december 31 , 2012 . the following table summarizes the 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 ) : purchase price allocation .
||final purchase price allocation|
|non-current assets|$ 2|
|property and equipment|3590|
|intangible assets ( 1 )|1062|
|other non-current liabilities|-91 ( 91 )|
|fair value of net assets acquired|$ 4563|
|goodwill ( 2 )|89|
( 1 ) consists of customer-related intangibles of approximately $ 0.4 million and network location intangibles of approximately $ 0.7 million . the customer-related intangibles and network location intangibles are being amortized on a straight-line basis over periods of up to 20 years . ( 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 . colombia 2014colombia movil acquisition 2014on july 17 , 2011 , the company entered into a definitive agreement with colombia movil s.a . e.s.p . ( 201ccolombia movil 201d ) , whereby atc sitios infraco , s.a.s. , a colombian subsidiary of the company ( 201catc infraco 201d ) , would purchase up to 2126 communications sites from colombia movil for an aggregate purchase price of approximately $ 182.0 million . from december 21 , 2011 through the year ended december 31 , 2012 , atc infraco completed the purchase of 1526 communications sites for an aggregate purchase price of $ 136.2 million ( including contingent consideration of $ 17.3 million ) , subject to post-closing adjustments . through a subsidiary , millicom international cellular s.a . ( 201cmillicom 201d ) exercised its option to acquire an indirect , substantial non-controlling interest in atc infraco . under the terms of the agreement , the company is required to make additional payments upon the conversion of certain barter agreements with other wireless carriers to cash paying lease agreements . based on the company 2019s current estimates , the value of potential contingent consideration payments required to be made under the amended agreement is expected to be between zero and $ 32.8 million and is estimated to be $ 17.3 million using a probability weighted average of the expected outcomes at december 31 , 2012 . during the year ended december 31 , 2012 , the company recorded a reduction in fair value of $ 1.2 million , which is included in other operating expenses in the consolidated statements of operations. .
Question: what was the approximate purchase price for the unit communication sites from colombia movil | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.63064 | Context:the goldman sachs group , inc . and subsidiaries management 2019s discussion and analysis investing & lending investing & lending includes our investing activities and the origination of loans , including our relationship lending activities , to provide financing to clients . these investments and loans are typically longer-term in nature . we make investments , some of which are consolidated , including through our merchant banking business and our special situations group , in debt securities and loans , public and private equity securities , infrastructure and real estate entities . some of these investments are made indirectly through funds that we manage . we also make unsecured and secured loans to retail clients through our digital platforms , marcus and goldman sachs private bank select ( gs select ) , respectively . the table below presents the operating results of our investing & lending segment. .
|$ in millions|year ended december 2017|year ended december 2016|year ended december 2015|
|equity securities|$ 4578|$ 2573|$ 3781|
|debt securities and loans|2003|1507|1655|
|total net revenues|6581|4080|5436|
|operating expenses|2796|2386|2402|
|pre-taxearnings|$ 3785|$ 1694|$ 3034|
operating environment . during 2017 , generally higher global equity prices and tighter credit spreads contributed to a favorable environment for our equity and debt investments . results also reflected net gains from company- specific events , including sales , and corporate performance . this environment contrasts with 2016 , where , in the first quarter of 2016 , market conditions were difficult and corporate performance , particularly in the energy sector , was impacted by a challenging macroeconomic environment . however , market conditions improved during the rest of 2016 as macroeconomic concerns moderated . if macroeconomic concerns negatively affect company-specific events or corporate performance , or if global equity markets decline or credit spreads widen , net revenues in investing & lending would likely be negatively impacted . 2017 versus 2016 . net revenues in investing & lending were $ 6.58 billion for 2017 , 61% ( 61 % ) higher than 2016 . net revenues in equity securities were $ 4.58 billion , including $ 3.82 billion of net gains from private equities and $ 762 million in net gains from public equities . net revenues in equity securities were 78% ( 78 % ) higher than 2016 , primarily reflecting a significant increase in net gains from private equities , which were positively impacted by company- specific events and corporate performance . in addition , net gains from public equities were significantly higher , as global equity prices increased during the year . of the $ 4.58 billion of net revenues in equity securities , approximately 60% ( 60 % ) was driven by net gains from company-specific events , such as sales , and public equities . net revenues in debt securities and loans were $ 2.00 billion , 33% ( 33 % ) higher than 2016 , reflecting significantly higher net interest income ( 2017 included approximately $ 1.80 billion of net interest income ) . net revenues in debt securities and loans for 2017 also included an impairment of approximately $ 130 million on a secured operating expenses were $ 2.80 billion for 2017 , 17% ( 17 % ) higher than 2016 , due to increased compensation and benefits expenses , reflecting higher net revenues , increased expenses related to consolidated investments , and increased expenses related to marcus . pre-tax earnings were $ 3.79 billion in 2017 compared with $ 1.69 billion in 2016 . 2016 versus 2015 . net revenues in investing & lending were $ 4.08 billion for 2016 , 25% ( 25 % ) lower than 2015 . net revenues in equity securities were $ 2.57 billion , including $ 2.17 billion of net gains from private equities and $ 402 million in net gains from public equities . net revenues in equity securities were 32% ( 32 % ) lower than 2015 , primarily reflecting a significant decrease in net gains from private equities , driven by company-specific events and corporate performance . net revenues in debt securities and loans were $ 1.51 billion , 9% ( 9 % ) lower than 2015 , reflecting significantly lower net revenues related to relationship lending activities , due to the impact of changes in credit spreads on economic hedges . losses related to these hedges were $ 596 million in 2016 , compared with gains of $ 329 million in 2015 . this decrease was partially offset by higher net gains from investments in debt instruments and higher net interest income . see note 9 to the consolidated financial statements for further information about economic hedges related to our relationship lending activities . operating expenses were $ 2.39 billion for 2016 , essentially unchanged compared with 2015 . pre-tax earnings were $ 1.69 billion in 2016 , 44% ( 44 % ) lower than 2015 . goldman sachs 2017 form 10-k 61 .
Question: what percentage of total net revenue in the investing & lending segment during 2016 was comprised of equity securities? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.08824 | Context:the following tables present a reconciliation of the beginning and ending balances of the fair value measurements using significant unobservable inputs ( level 3 ) for 2015 and 2014 , respectively: .
||level 3|
|balance as of january 1 2015|$ 127|
|actual return on assets|12|
|purchases issuances and settlements net|-3 ( 3 )|
|balance as of december 31 2015|$ 136|
purchases , issuances and settlements , net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 76 balance as of december 31 , 2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 127 the company 2019s other postretirement benefit plans are partially funded and the assets are held under various trusts . the investments and risk mitigation strategies for the plans are tailored specifically for each trust . in setting new strategic asset mixes , consideration is given to the likelihood that the selected asset allocation will effectively fund the projected plan liabilities and the risk tolerance of the company . the company periodically updates the long-term , strategic asset allocations and uses various analytics to determine the optimal asset allocation . considerations include plan liability characteristics , liquidity characteristics , funding requirements , expected rates of return and the distribution of returns . in june 2012 , the company implemented a de-risking strategy for the medical bargaining trust within the plan to minimize volatility . as part of the de-risking strategy , the company revised the asset allocations to increase the matching characteristics of assets relative to liabilities . the initial de-risking asset allocation for the plan was 60% ( 60 % ) return-generating assets and 40% ( 40 % ) liability-driven assets . the investment strategies and policies for the plan reflect a balance of liability driven and return-generating considerations . the objective of minimizing the volatility of assets relative to liabilities is addressed primarily through asset 2014liability matching , asset diversification and hedging . the fixed income target asset allocation matches the bond-like and long-dated nature of the postretirement liabilities . assets are broadly diversified within asset classes to achieve risk-adjusted returns that in total lower asset volatility relative to the liabilities . the company assesses the investment strategy regularly to ensure actual allocations are in line with target allocations as appropriate . strategies to address the goal of ensuring sufficient assets to pay benefits include target allocations to a broad array of asset classes and , within asset classes strategies are employed to provide adequate returns , diversification and liquidity . the assets of the company 2019s other trusts , within the other postretirement benefit plans , have been primarily invested in equities and fixed income funds . the assets under the various other postretirement benefit trusts are invested differently based on the assets and liabilities of each trust . the obligations of the other postretirement benefit plans are dominated by obligations for the medical bargaining trust . thirty-nine percent and four percent of the total postretirement plan benefit obligations are related to the medical non-bargaining and life insurance trusts , respectively . because expected benefit payments related to the benefit obligations are so far into the future , and the size of the medical non-bargaining and life insurance trusts 2019 obligations are large compared to each trusts 2019 assets , the investment strategy is to allocate a significant portion of the assets 2019 investment to equities , which the company believes will provide the highest long-term return and improve the funding ratio . the company engages third party investment managers for all invested assets . managers are not permitted to invest outside of the asset class ( e.g . fixed income , equity , alternatives ) or strategy for which they have been appointed . investment management agreements and recurring performance and attribution analysis are used as tools to ensure investment managers invest solely within the investment strategy they have been provided . futures and options may be used to adjust portfolio duration to align with a plan 2019s targeted investment policy. .
Question: what was the percent of the return on assets as a percent of the account balance at december 31 , 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: |
1077793.0 | Context:the committee's assessment of other elements of compensation provided to the named executive officer . the corporate and business unit goals and objectives vary by individual officers and include , among other things , corporate and business unit financial performance , capital expenditures , cost containment , safety , reliability , customer service , business development and regulatory matters . the use of "internal pay equity" in setting merit increases is limited to determining whether a change in an executive officer's role and responsibilities relative to other executive officers requires an adjustment in the officer's salary . the committee has not established any predetermined formula against which the base salary of one named executive officer is measured against another officer or employee . in 2008 , on the basis of the market data and other factors described above , merit-based salary increases for the named executive officers were approved in amounts ranging from 3.2 to 5.2 percent . in general these merit-based increases were consistent with the merit increase percentages approved with respect to named executive officers in the last two years ( excluding adjustments in salaries related to market factors , promotions or other changes in job responsibilities ) . the following table sets forth the 2007 base salaries for the named executive officers , the 2008 percentage increase and the resulting 2008 base salary . except as described below , changes in base salaries were effective in april of each of the years shown . named executive officer 2007 base salary percentage increase 2008 base salary .
|named executive officer|2007 base salary|percentage increase|2008 base salary|
|j . wayne leonard|$ 1230000|5.0% ( 5.0 % )|$ 1291500|
|leo p . denault|$ 600000|5.0% ( 5.0 % )|$ 630000|
|richard j . smith|$ 622400|3.5% ( 3.5 % )|$ 645000|
|e . renae conley|$ 392000|4.0% ( 4.0 % )|$ 407680|
|hugh t . mcdonald|$ 311992|3.2% ( 3.2 % )|$ 322132|
|joseph f . domino|$ 307009|3.5% ( 3.5 % )|$ 317754|
|roderick k . west|$ 276000|13.75% ( 13.75 % )|$ 315000|
|theodore h . bunting jr .|$ 325000|5.2% ( 5.2 % )|$ 341900|
|haley fisackerly|$ 205004|32.9% ( 32.9 % )|$ 275000|
|carolyn shanks|$ 307009|3.3% ( 3.3 % )|$ 317140|
|jay a . lewis|$ 207000|3.24% ( 3.24 % )|$ 213707|
in addition to the market-based and other factors described above , the following factors were considered by the committee with respect to the officers identified below : mr . leonard's salary was increased due to the personnel committee's assessment of , among other things , his strong performance as chief executive officer of entergy corporation , entergy corporation's financial and operational performance in 2007 and comparative market data on base salaries for chief executive officers . in may , 2008 , carolyn shanks resigned as ceo - entergy mississippi and accepted a conditional offer of employment at enexus energy corporation . upon her resignation , mr . fisackerly was promoted to president and ceo of entergy mississippi , and mr . fisackerly's salary was increased to reflect the increased responsibilities of his new position and comparative market and internal data for officers holding similar positions and performing similar responsibilities . in the third quarter of 2008 , mr . bunting took on the role of principal financial officer for the subsidiaries replacing mr . lewis in that position . in the third quarter of 2008 , mr . lewis assumed a position with enexus energy corporation . mr . west's salary was increased to reflect his performance as ceo - entergy new orleans , the strategic challenges facing entergy new orleans and the importance of retaining mr . west to manage these challenges and to retain internal competitiveness of mr . west's salary with officers in the company holding similar positions. .
Question: what is the difference between the highest and the lowest base salary 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: |
0.62821 | Context:management 2019s discussion and analysis of financial conditionand results of operations d u k e r e a l t y c o r p o r a t i o n 1 1 2 0 0 2 a n n u a l r e p o r t 2022 interest expense on the company 2019s secured debt decreased from $ 30.8 million in 2001 to $ 22.9 million in 2002 as the company paid off $ 13.5 million of secured debt throughout 2002 and experienced lower borrowings on its secured line of credit during 2002 compared to 2001 . additionally , the company paid off approximately $ 128.5 million of secured debt throughout 2001 . 2022 interest expense on the company 2019s $ 500 million unsecured line of credit decreased by approximately $ 1.1 million in 2002 compared to 2001 as the company maintained lower balances on the line throughout most of 2002 . as a result of the above-mentioned items , earnings from rental operations decreased $ 35.0 million from $ 254.1 million for the year ended december 31 , 2001 , to $ 219.1 million for the year ended december 31 , 2002 . service operations service operations primarily consist of leasing , management , construction and development services for joint venture properties and properties owned by third parties . service operations revenues decreased from $ 80.5 million for the year ended december 31 , 2001 , to $ 68.6 million for the year ended december 31 , 2002 . the prolonged effect of the slow economy has been the primary factor in the overall decrease in revenues . the company experienced a decrease of $ 12.7 million in net general contractor revenues because of a decrease in the volume of construction in 2002 , compared to 2001 , as well as slightly lower profit margins . property management , maintenance and leasing fee revenues decreased from $ 22.8 million in 2001 to $ 14.3 million in 2002 primarily because of a decrease in landscaping maintenance revenue resulting from the sale of the landscaping operations in the third quarter of 2001 . construction management and development activity income represents construction and development fees earned on projects where the company acts as the construction manager along with profits from the company 2019s held for sale program whereby the company develops a property for sale upon completion . the increase in revenues of $ 10.3 million in 2002 is primarily due to an increase in volume of the sale of properties from the held for sale program . service operations expenses decreased from $ 45.3 million in 2001 to $ 38.3 million in 2002 . the decrease is attributable to the decrease in construction and development activity and the reduced overhead costs as a result of the sale of the landscape business in 2001 . as a result of the above , earnings from service operations decreased from $ 35.1 million for the year ended december 31 , 2001 , to $ 30.3 million for the year ended december 31 , 2002 . general and administrative expense general and administrative expense increased from $ 15.6 million in 2001 to $ 25.4 million for the year ended december 31 , 2002 . the company has been successful reducing total operating and administration costs ; however , reduced construction and development activities have resulted in a greater amount of overhead being charged to general and administrative expense instead of being capitalized into development projects or charged to service operations . other income and expenses gain on sale of land and depreciable property dispositions , net of impairment adjustment , is comprised of the following amounts in 2002 and 2001 : gain on sales of depreciable properties represent sales of previously held for investment rental properties . beginning in 2000 and continuing into 2001 , the company pursued favorable opportunities to dispose of real estate assets that no longer met long-term investment objectives . in 2002 , the company significantly reduced this property sales program until the business climate improves and provides better investment opportunities for the sale proceeds . gain on land sales represents sales of undeveloped land owned by the company . the company pursues opportunities to dispose of land in markets with a high concentration of undeveloped land and those markets where the land no longer meets strategic development plans of the company . the company recorded a $ 9.4 million adjustment in 2002 associated with six properties determined to have an impairment of book value . the company has analyzed each of its in-service properties and has determined that there are no additional valuation adjustments that need to be made as of december 31 , 2002 . the company recorded an adjustment of $ 4.8 million in 2001 for one property that the company had contracted to sell for a price less than its book value . other revenue for the year ended december 31 , 2002 , includes $ 1.4 million of gain related to an interest rate swap that did not qualify for hedge accounting. .
||2002|2001|
|gain on sales of depreciable properties|$ 4491|$ 45428|
|gain on land sales|4478|5080|
|impairment adjustment|-9379 ( 9379 )|-4800 ( 4800 )|
|total|$ -410 ( 410 )|$ 45708|
.
Question: what was the percentage change in the general and administrative expenses from 2001 to , 2002 . | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-0.12963 | Context:recourse and repurchase obligations as discussed in note 3 loans sale and servicing activities and variable interest entities , pnc has sold commercial mortgage and residential mortgage loans directly or indirectly in securitizations and whole-loan sale transactions with continuing involvement . one form of continuing involvement includes certain recourse and loan repurchase obligations associated with the transferred assets in these transactions . commercial mortgage loan recourse obligations we originate , close and service certain multi-family commercial mortgage loans which are sold to fnma under fnma 2019s dus program . we participated in a similar program with the fhlmc . under these programs , we generally assume up to a one-third pari passu risk of loss on unpaid principal balances through a loss share arrangement . at december 31 , 2011 and december 31 , 2010 , the unpaid principal balance outstanding of loans sold as a participant in these programs was $ 13.0 billion and $ 13.2 billion , respectively . the potential maximum exposure under the loss share arrangements was $ 4.0 billion at both december 31 , 2011 and december 31 , 2010 . we maintain a reserve for estimated losses based upon our exposure . the reserve for losses under these programs totaled $ 47 million and $ 54 million as of december 31 , 2011 and december 31 , 2010 , respectively , and is included in other liabilities on our consolidated balance sheet . if payment is required under these programs , we would not have a contractual interest in the collateral underlying the mortgage loans on which losses occurred , although the value of the collateral is taken into account in determining our share of such losses . our exposure and activity associated with these recourse obligations are reported in the corporate & institutional banking segment . analysis of commercial mortgage recourse obligations .
|in millions|2011|2010|
|january 1|$ 54|$ 71|
|reserve adjustments net|1|9|
|losses 2013 loan repurchases and settlements|-8 ( 8 )|-2 ( 2 )|
|loan sales||-24 ( 24 )|
|december 31|$ 47|$ 54|
residential mortgage loan and home equity repurchase obligations while residential mortgage loans are sold on a non-recourse basis , we assume certain loan repurchase obligations associated with mortgage loans we have sold to investors . these loan repurchase obligations primarily relate to situations where pnc is alleged to have breached certain origination covenants and representations and warranties made to purchasers of the loans in the respective purchase and sale agreements . residential mortgage loans covered by these loan repurchase obligations include first and second-lien mortgage loans we have sold through agency securitizations , non-agency securitizations , and whole-loan sale transactions . as discussed in note 3 in this report , agency securitizations consist of mortgage loans sale transactions with fnma , fhlmc , and gnma , while non-agency securitizations and whole-loan sale transactions consist of mortgage loans sale transactions with private investors . our historical exposure and activity associated with agency securitization repurchase obligations has primarily been related to transactions with fnma and fhlmc , as indemnification and repurchase losses associated with fha and va-insured and uninsured loans pooled in gnma securitizations historically have been minimal . repurchase obligation activity associated with residential mortgages is reported in the residential mortgage banking segment . pnc 2019s repurchase obligations also include certain brokered home equity loans/lines that were sold to a limited number of private investors in the financial services industry by national city prior to our acquisition . pnc is no longer engaged in the brokered home equity lending business , and our exposure under these loan repurchase obligations is limited to repurchases of whole-loans sold in these transactions . repurchase activity associated with brokered home equity loans/lines is reported in the non-strategic assets portfolio segment . loan covenants and representations and warranties are established through loan sale agreements with various investors to provide assurance that pnc has sold loans to investors of sufficient investment quality . key aspects of such covenants and representations and warranties include the loan 2019s compliance with any applicable loan criteria established by the investor , including underwriting standards , delivery of all required loan documents to the investor or its designated party , sufficient collateral valuation , and the validity of the lien securing the loan . as a result of alleged breaches of these contractual obligations , investors may request pnc to indemnify them against losses on certain loans or to repurchase loans . these investor indemnification or repurchase claims are typically settled on an individual loan basis through make- whole payments or loan repurchases ; however , on occasion we may negotiate pooled settlements with investors . indemnifications for loss or loan repurchases typically occur when , after review of the claim , we agree insufficient evidence exists to dispute the investor 2019s claim that a breach of a loan covenant and representation and warranty has occurred , such breach has not been cured , and the effect of such breach is deemed to have had a material and adverse effect on the value of the transferred loan . depending on the sale agreement and upon proper notice from the investor , we typically respond to such indemnification and repurchase requests within 60 days , although final resolution of the claim may take a longer period of time . with the exception of the sales the pnc financial services group , inc . 2013 form 10-k 199 .
Question: in 2011 what was the percentage change in the commercial mortgage recourse obligations . | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.33928 | Context:notes to consolidated financial statements 2014 ( continued ) note 12 2014related party transactions in the course of settling money transfer transactions , we purchase foreign currency from consultoria internacional casa de cambio ( 201ccisa 201d ) , a mexican company partially owned by certain of our employees . as of march 31 , 2008 , mr . ra fal lim f3n cortes , a 10% ( 10 % ) shareholder of cisa , was no longer an employee , and we no longer considered cisa a related party . we purchased 6.1 billion mexican pesos for $ 560.3 million during the ten months ended march 31 , 2008 and 8.1 billion mexican pesos for $ 736.0 million during fiscal 2007 from cisa . we believe these currency transactions were executed at prevailing market exchange rates . also from time to time , money transfer transactions are settled at destination facilities owned by cisa . we incurred related settlement expenses , included in cost of service in the accompanying consolidated statements of income of $ 0.5 million in the ten months ended march 31 , 2008 . in fiscal 2007 and 2006 , we incurred related settlement expenses , included in cost of service in the accompanying consolidated statements of income of $ 0.7 and $ 0.6 million , respectively . in the normal course of business , we periodically utilize the services of contractors to provide software development services . one of our employees , hired in april 2005 , is also an employee , officer , and part owner of a firm that provides such services . the services provided by this firm primarily relate to software development in connection with our planned next generation front-end processing system in the united states . during fiscal 2008 , we capitalized fees paid to this firm of $ 0.3 million . as of may 31 , 2008 and 2007 , capitalized amounts paid to this firm of $ 4.9 million and $ 4.6 million , respectively , were included in property and equipment in the accompanying consolidated balance sheets . in addition , we expensed amounts paid to this firm of $ 0.3 million , $ 0.1 million and $ 0.5 million in the years ended may 31 , 2008 , 2007 and 2006 , respectively . note 13 2014commitments and contingencies leases we conduct a major part of our operations using leased facilities and equipment . many of these leases have renewal and purchase options and provide that we pay the cost of property taxes , insurance and maintenance . rent expense on all operating leases for fiscal 2008 , 2007 and 2006 was $ 30.4 million , $ 27.1 million , and $ 24.4 million , respectively . future minimum lease payments for all noncancelable leases at may 31 , 2008 were as follows : operating leases .
||operating leases|
|2009|$ 22883|
|2010|16359|
|2011|11746|
|2012|5277|
|2013|3365|
|thereafter|7816|
|total future minimum lease payments|$ 67446|
we are party to a number of other claims and lawsuits incidental to our business . in the opinion of management , the reasonably possible outcome of such matters , individually or in the aggregate , will not have a material adverse impact on our financial position , liquidity or results of operations. .
Question: what percentage of the future lease payments is has to be paid 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: |
1890.0 | Context:the goldman sachs group , inc . and subsidiaries management 2019s discussion and analysis during periods in which we have significantly more positive net revenue days than net revenue loss days , we expect to have fewer var exceptions because , under normal conditions , our business model generally produces positive net revenues . in periods in which our franchise revenues are adversely affected , we generally have more loss days , resulting in more var exceptions . the daily net revenues for positions included in var used to determine var exceptions reflect the impact of any intraday activity , including bid/offer net revenues , which are more likely than not to be positive by their nature . sensitivity measures certain portfolios and individual positions are not included in var because var is not the most appropriate risk measure . other sensitivity measures we use to analyze market risk are described below . 10% ( 10 % ) sensitivity measures . the table below presents market risk by asset category for positions accounted for at fair value , that are not included in var. .
|$ in millions|as of december 2018|as of december 2017|
|equity|$ 1923|$ 2096|
|debt|1890|1606|
|total|$ 3813|$ 3702|
in the table above : 2030 the market risk of these positions is determined by estimating the potential reduction in net revenues of a 10% ( 10 % ) decline in the value of these positions . 2030 equity positions relate to private and restricted public equity securities , including interests in funds that invest in corporate equities and real estate and interests in hedge funds . 2030 debt positions include interests in funds that invest in corporate mezzanine and senior debt instruments , loans backed by commercial and residential real estate , corporate bank loans and other corporate debt , including acquired portfolios of distressed loans . 2030 funded equity and debt positions are included in our consolidated statements of financial condition in financial instruments owned . see note 6 to the consolidated financial statements for further information about cash instruments . 2030 these measures do not reflect the diversification effect across asset categories or across other market risk measures . credit spread sensitivity on derivatives and financial liabilities . var excludes the impact of changes in counterparty and our own credit spreads on derivatives , as well as changes in our own credit spreads ( debt valuation adjustment ) on financial liabilities for which the fair value option was elected . the estimated sensitivity to a one basis point increase in credit spreads ( counterparty and our own ) on derivatives was a gain of $ 3 million ( including hedges ) as of both december 2018 and december 2017 . in addition , the estimated sensitivity to a one basis point increase in our own credit spreads on financial liabilities for which the fair value option was elected was a gain of $ 41 million as of december 2018 and $ 35 million as of december 2017 . however , the actual net impact of a change in our own credit spreads is also affected by the liquidity , duration and convexity ( as the sensitivity is not linear to changes in yields ) of those financial liabilities for which the fair value option was elected , as well as the relative performance of any hedges undertaken . interest rate sensitivity . loans receivable were $ 80.59 billion as of december 2018 and $ 65.93 billion as of december 2017 , substantially all of which had floating interest rates . the estimated sensitivity to a 100 basis point increase in interest rates on such loans was $ 607 million as of december 2018 and $ 527 million as of december 2017 , of additional interest income over a twelve-month period , which does not take into account the potential impact of an increase in costs to fund such loans . see note 9 to the consolidated financial statements for further information about loans receivable . other market risk considerations as of both december 2018 and december 2017 , we had commitments and held loans for which we have obtained credit loss protection from sumitomo mitsui financial group , inc . see note 18 to the consolidated financial statements for further information about such lending commitments . in addition , we make investments in securities that are accounted for as available-for-sale and included in financial instruments owned in the consolidated statements of financial condition . see note 6 to the consolidated financial statements for further information . we also make investments accounted for under the equity method and we also make direct investments in real estate , both of which are included in other assets . direct investments in real estate are accounted for at cost less accumulated depreciation . see note 13 to the consolidated financial statements for further information about other assets . 92 goldman sachs 2018 form 10-k .
Question: for asset category for positions accounted for at fair value , that are not included in var , in millions for 2018 and 2017 , what was the maximum debt value? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.1411 | Context:in addition to generating sales of our products , our worldwide full-price stores set , reinforce and capitalize on the image of our brands . our stores range in size from approximately 800 to over 37500 square feet . these full- price stores are situated in major upscale street locations and upscale regional malls , generally in large urban markets . we generally lease our stores for initial periods ranging from 5 to 10 years with renewal options . we extend our reach to additional consumer groups through our 163 polo ralph lauren factory stores worldwide . during fiscal 2009 , we added 5 new polo ralph lauren factory stores , net . our factory stores are generally located in outlet malls . we operated the following factory retail stores as of march 28 , 2009 : factory retail stores location ralph lauren .
|location|polo ralph lauren|
|united states|136|
|europe|23|
|japan|4|
|total|163|
2022 polo ralph lauren domestic factory stores offer selections of our menswear , womenswear , children 2019s apparel , accessories , home furnishings and fragrances . ranging in size from approximately 2700 to 20000 square feet , with an average of approximately 9200 square feet , these stores are principally located in major outlet centers in 36 states and puerto rico . 2022 european factory stores offer selections of our menswear , womenswear , children 2019s apparel , accessories , home furnishings and fragrances . ranging in size from approximately 2300 to 10500 square feet , with an average of approximately 6500 square feet , these stores are located in 9 countries , principally in major outlet centers . 2022 japanese factory stores offer selections of our menswear , womenswear , children 2019s apparel , accessories , home furnishings and fragrances . ranging in size from approximately 1500 to 12000 square feet , with an average of approximately 7400 square feet , these stores are located in 3 provinces , principally in major outlet centers . factory stores obtain products from our suppliers , our product licensing partners and our retail stores . ralphlauren.com and rugby.com in addition to our stores , our retail segment sells products online through our e-commerce websites , ralphlauren.com ( http://www.ralphlauren.com ) and rugby.com ( http://www.rugby.com ) . ralphlauren.com offers our customers access to the full breadth of ralph lauren apparel , accessories and home products , allows us to reach retail customers on a multi-channel basis and reinforces the luxury image of our brands . ralphlauren.com averaged 2.9 million unique visitors a month and acquired approximately 350000 new customers , resulting in 1.7 million total customers in fiscal 2009 . in august 2008 , the company launched rugby.com , its second e-commerce website . rugby.com offers clothing and accessories for purchase 2014 previously only available at rugby stores 2014 along with style tips , unique videos and blog-based content . rugby.com offers an extensive array of rugby products for young men and women within a full lifestyle destination . our licensing segment through licensing alliances , we combine our consumer insight , design , and marketing skills with the specific product or geographic competencies of our licensing partners to create and build new businesses . we generally seek out licensing partners who : 2022 are leaders in their respective markets ; 2022 contribute the majority of the product development costs; .
Question: what percentage of factory retail stores as of march 28 , 2009 were located in the europe? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.91885 | Context:57 annual report 2010 duke realty corporation | | level 2 inputs are inputs other than quoted prices included in level 1 that are observable for the asset or liability , either directly or indirectly . level 2 inputs may include quoted prices for similar assets and liabilities in active markets , as well as inputs that are observable for the asset or liability ( other than quoted prices ) , such as interest rates and yield curves that are observable at commonly quoted intervals . level 3 inputs are unobservable inputs for the asset or liability , which are typically based on an entity 2019s own assumptions , as there is little , if any , related market activity . in instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy , the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety . our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability . use of estimates the preparation of the financial statements requires management to make a number of estimates and assumptions that affect the reported amount of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period . the most significant estimates , as discussed within our summary of significant accounting policies , pertain to the critical assumptions utilized in testing real estate assets for impairment as well as in estimating the fair value of real estate assets when an impairment event has taken place . actual results could differ from those estimates . ( 3 ) significant acquisitions and dispositions 2010 acquisition of remaining interest in dugan realty , l.l.c . on july 1 , 2010 , we acquired our joint venture partner 2019s 50% ( 50 % ) interest in dugan realty , l.l.c . ( 201cdugan 201d ) , a real estate joint venture that we had previously accounted for using the equity method , for a payment of $ 166.7 million . dugan held $ 28.1 million of cash at the time of acquisition , which resulted in a net cash outlay of $ 138.6 million . as the result of this transaction we obtained 100% ( 100 % ) of dugan 2019s membership interests . at the date of acquisition , dugan owned 106 industrial buildings totaling 20.8 million square feet and 63 net acres of undeveloped land located in midwest and southeast markets . dugan had a secured loan with a face value of $ 195.4 million due in october 2010 , which was repaid at its scheduled maturity date , and a secured loan with a face value of $ 87.6 million due in october 2012 ( see note 8 ) . the acquisition was completed in order to pursue our strategy to increase our overall allocation to industrial real estate assets . the following table summarizes our allocation of the fair value of amounts recognized for each major class of assets and liabilities ( in thousands ) : .
|real estate assets|$ 502418|
|lease related intangible assets|107155|
|other assets|28658|
|total acquired assets|$ 638231|
|secured debt|$ 285376|
|other liabilities|20243|
|total assumed liabilities|$ 305619|
|fair value of acquired net assets ( represents 100% ( 100 % ) interest )|$ 332612|
fair value of acquired net assets ( represents 100% ( 100 % ) interest ) $ 332612 we previously managed and performed other ancillary services for dugan 2019s properties and , as a result , dugan had no employees of its own and no .
Question: what was the debt to equity ratio in the assets acquired | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.72 | Context:table of contents concentrations in the available sources of supply of materials and product although most components essential to the company 2019s business are generally available from multiple sources , a number of components are currently obtained from single or limited sources . in addition , the company competes for various components with other participants in the markets for mobile communication and media devices and personal computers . therefore , many components used by the company , including those that are available from multiple sources , are at times subject to industry-wide shortage and significant pricing fluctuations that could materially adversely affect the company 2019s financial condition and operating results . 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 . 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 27 , 2014 , the company 2019s total future minimum lease payments under noncancelable operating leases were $ 5.0 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 $ 717 million , $ 645 million and $ 488 million in 2014 , 2013 and 2012 , respectively . future minimum lease payments under noncancelable operating leases having remaining terms in excess of one year as of september 27 , 2014 , are as follows ( in millions ) : apple inc . | 2014 form 10-k | 75 .
|2015|$ 662|
|2016|676|
|2017|645|
|2018|593|
|2019|534|
|thereafter|1877|
|total|$ 4987|
.
Question: as of september 27 , 2014 , what percentage of the company 2019s total future minimum lease payments under noncancelable operating leases related to leases for retail space? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
Subsets and Splits