answer
stringlengths 2
16
| text
stringlengths 520
16.2k
| instruction
stringclasses 1
value |
|---|---|---|
2.25 | Context:valuation techniques 2013 cash equivalents are mostly comprised of short-term money-market instruments and are valued at cost , which approximates fair value . u.s . equity securities and international equity securities categorized as level 1 are traded on active national and international exchanges and are valued at their closing prices on the last trading day of the year . for u.s . equity securities and international equity securities not traded on an active exchange , or if the closing price is not available , the trustee obtains indicative quotes from a pricing vendor , broker , or investment manager . these securities are categorized as level 2 if the custodian obtains corroborated quotes from a pricing vendor or categorized as level 3 if the custodian obtains uncorroborated quotes from a broker or investment manager . commingled equity funds are investment vehicles valued using the net asset value ( nav ) provided by the fund managers . the nav is the total value of the fund divided by the number of shares outstanding . commingled equity funds are categorized as level 1 if traded at their nav on a nationally recognized securities exchange or categorized as level 2 if the nav is corroborated by observable market data ( e.g. , purchases or sales activity ) and we are able to redeem our investment in the near-term . fixed income investments categorized as level 2 are valued by the trustee using pricing models that use verifiable observable market data ( e.g. , interest rates and yield curves observable at commonly quoted intervals and credit spreads ) , bids provided by brokers or dealers , or quoted prices of securities with similar characteristics . fixed income investments are categorized at level 3 when valuations using observable inputs are unavailable . the trustee obtains pricing based on indicative quotes or bid evaluations from vendors , brokers , or the investment manager . private equity funds , real estate funds , and hedge funds are valued using the nav based on valuation models of underlying securities which generally include significant unobservable inputs that cannot be corroborated using verifiable observable market data . valuations for private equity funds and real estate funds are determined by the general partners . depending on the nature of the assets , the general partners may use various valuation methodologies , including the income and market approaches in their models . the market approach consists of analyzing market transactions for comparable assets while the income approach uses earnings or the net present value of estimated future cash flows adjusted for liquidity and other risk factors . hedge funds are valued by independent administrators using various pricing sources and models based on the nature of the securities . private equity funds , real estate funds , and hedge funds are generally categorized as level 3 as we cannot fully redeem our investment in the near-term . commodities are traded on an active commodity exchange and are valued at their closing prices on the last trading day of the year . contributions and expected benefit payments we generally determine funding requirements for our defined benefit pension plans in a manner consistent with cas and internal revenue code rules . in 2013 , we made contributions of $ 2.25 billion related to our qualified defined benefit pension plans . we currently plan to make contributions of approximately $ 1.0 billion related to the qualified defined benefit pension plans in 2014 . in 2013 , we made contributions of $ 98 million to our retiree medical and life insurance plans . we do not expect to make contributions related to the retiree medical and life insurance plans in 2014 as a result of our 2013 contributions . the following table presents estimated future benefit payments , which reflect expected future employee service , as of december 31 , 2013 ( in millions ) : .
||2014|2015|2016|2017|2018|2019 - 2023|
|qualified defined benefit pension plans|$ 1960|$ 2030|$ 2110|$ 2200|$ 2300|$ 13240|
|retiree medical and life insurance plans|200|210|210|220|220|1070|
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 $ 383 million in 2013 , $ 380 million in 2012 , and $ 378 million in 2011 , the majority of which were funded in our common stock . our defined contribution plans held approximately 44.7 million and 48.6 million shares of our common stock as of december 31 , 2013 and 2012. .
Question: what was the ratio of the company contribution to the pension plan in 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: |
0.19231 | Context:regions . principal cost drivers include manufacturing efficiency , raw material and energy costs and freight costs . printing papers net sales for 2014 decreased 8% ( 8 % ) to $ 5.7 billion compared with $ 6.2 billion in 2013 and 8% ( 8 % ) compared with $ 6.2 billion in 2012 . operating profits in 2014 were 106% ( 106 % ) lower than in 2013 and 103% ( 103 % ) lower than in 2012 . excluding facility closure costs , impairment costs and other special items , operating profits in 2014 were 7% ( 7 % ) higher than in 2013 and 8% ( 8 % ) lower than in 2012 . benefits from higher average sales price realizations and a favorable mix ( $ 178 million ) , lower planned maintenance downtime costs ( $ 26 million ) , the absence of a provision for bad debt related to a large envelope customer that was booked in 2013 ( $ 28 million ) , and lower foreign exchange and other costs ( $ 25 million ) were offset by lower sales volumes ( $ 82 million ) , higher operating costs ( $ 49 million ) , higher input costs ( $ 47 million ) , and costs associated with the closure of our courtland , alabama mill ( $ 41 million ) . in addition , operating profits in 2014 include special items costs of $ 554 million associated with the closure of our courtland , alabama mill . during 2013 , the company accelerated depreciation for certain courtland assets , and evaluated certain other assets for possible alternative uses by one of our other businesses . the net book value of these assets at december 31 , 2013 was approximately $ 470 million . in the first quarter of 2014 , we completed our evaluation and concluded that there were no alternative uses for these assets . we recognized approximately $ 464 million of accelerated depreciation related to these assets in 2014 . operating profits in 2014 also include a charge of $ 32 million associated with a foreign tax amnesty program , and a gain of $ 20 million for the resolution of a legal contingency in india , while operating profits in 2013 included costs of $ 118 million associated with the announced closure of our courtland , alabama mill and a $ 123 million impairment charge associated with goodwill and a trade name intangible asset in our india papers business . printing papers .
|in millions|2014|2013|2012|
|sales|$ 5720|$ 6205|$ 6230|
|operating profit ( loss )|-16 ( 16 )|271|599|
north american printing papers net sales were $ 2.1 billion in 2014 , $ 2.6 billion in 2013 and $ 2.7 billion in 2012 . operating profits in 2014 were a loss of $ 398 million ( a gain of $ 156 million excluding costs associated with the shutdown of our courtland , alabama mill ) compared with gains of $ 36 million ( $ 154 million excluding costs associated with the courtland mill shutdown ) in 2013 and $ 331 million in 2012 . sales volumes in 2014 decreased compared with 2013 due to lower market demand for uncoated freesheet paper and the closure our courtland mill . average sales price realizations were higher , reflecting sales price increases in both domestic and export markets . higher input costs for wood were offset by lower costs for chemicals , however freight costs were higher . planned maintenance downtime costs were $ 14 million lower in 2014 . operating profits in 2014 were negatively impacted by costs associated with the shutdown of our courtland , alabama mill but benefited from the absence of a provision for bad debt related to a large envelope customer that was recorded in 2013 . entering the first quarter of 2015 , sales volumes are expected to be stable compared with the fourth quarter of 2014 . average sales margins should improve reflecting a more favorable mix although average sales price realizations are expected to be flat . input costs are expected to be stable . planned maintenance downtime costs are expected to be about $ 16 million lower with an outage scheduled in the 2015 first quarter at our georgetown mill compared with outages at our eastover and riverdale mills in the 2014 fourth quarter . brazilian papers net sales for 2014 were $ 1.1 billion compared with $ 1.1 billion in 2013 and $ 1.1 billion in 2012 . operating profits for 2014 were $ 177 million ( $ 209 million excluding costs associated with a tax amnesty program ) compared with $ 210 million in 2013 and $ 163 million in 2012 . sales volumes in 2014 were about flat compared with 2013 . average sales price realizations improved for domestic uncoated freesheet paper due to the realization of price increases implemented in the second half of 2013 and in 2014 . margins were favorably affected by an increased proportion of sales to the higher-margin domestic market . raw material costs increased for wood and chemicals . operating costs were higher than in 2013 and planned maintenance downtime costs were flat . looking ahead to 2015 , sales volumes in the first quarter are expected to decrease due to seasonally weaker customer demand for uncoated freesheet paper . average sales price improvements are expected to reflect the partial realization of announced sales price increases in the brazilian domestic market for uncoated freesheet paper . input costs are expected to be flat . planned maintenance outage costs should be $ 5 million lower with an outage scheduled at the luiz antonio mill in the first quarter . european papers net sales in 2014 were $ 1.5 billion compared with $ 1.5 billion in 2013 and $ 1.4 billion in 2012 . operating profits in 2014 were $ 140 million compared with $ 167 million in 2013 and $ 179 million in compared with 2013 , sales volumes for uncoated freesheet paper in 2014 were slightly higher in both .
Question: what percentage where brazilian papers net sales of printing papers sales in 2014? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.26581 | Context:n o t e s t o c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s ( continued ) ace limited and subsidiaries the following table shows changes in the company 2019s stock options for the years ended december 31 , 2008 , 2007 , and number of options weighted average exercise price .
||number of options|weightedaverageexercise price|
|options outstanding december 31 2005|12643761|$ 36.53|
|granted|1505215|$ 56.29|
|exercised|-1982560 ( 1982560 )|$ 33.69|
|forfeited|-413895 ( 413895 )|$ 39.71|
|options outstanding december 31 2006|11752521|$ 39.43|
|granted|1549091|$ 56.17|
|exercised|-1830004 ( 1830004 )|$ 35.73|
|forfeited|-200793 ( 200793 )|$ 51.66|
|options outstanding december 31 2007|11270815|$ 42.12|
|granted|1612507|$ 60.17|
|exercised|-2650733 ( 2650733 )|$ 36.25|
|forfeited|-309026 ( 309026 )|$ 54.31|
|options outstanding december 31 2008|9923563|$ 46.24|
the weighted-average remaining contractual term was 5.8 years for the stock options outstanding and 4.6 years for the stock options exercisable at december 31 , 2008 . the total intrinsic value was approximately $ 66 million for stock options out- standing and $ 81 million for stock options exercisable at december 31 , 2008 . the weighted-average fair value for the stock options granted for the year ended december 31 , 2008 was $ 17.60 . the total intrinsic value for stock options exercised dur- ing the years ended december 31 , 2008 , 2007 , and 2006 , was approximately $ 54 million , $ 44 million , and $ 43 million , respectively . the amount of cash received during the year ended december 31 , 2008 , from the exercise of stock options was $ 97 million . restricted stock the company 2019s 2004 ltip also provides for grants of restricted stock . the company generally grants restricted stock with a 4-year vesting period , based on a graded vesting schedule . the restricted stock is granted at market close price on the date of grant . included in the company 2019s share-based compensation expense in the year ended december 31 , 2008 , is a portion of the cost related to the unvested restricted stock granted in the years 2004 to 2008. .
Question: what is the growth rate of the weighted average exercise price of options from december 31 , 2005 to december 31 , 2008? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-0.02033 | Context:entergy arkansas , inc . management's financial discussion and analysis results of operations net income 2004 compared to 2003 net income increased $ 16.2 million due to lower other operation and maintenance expenses , a lower effective income tax rate for 2004 compared to 2003 , and lower interest charges . the increase was partially offset by lower net revenue . 2003 compared to 2002 net income decreased $ 9.6 million due to lower net revenue , higher depreciation and amortization expenses , and a higher effective income tax rate for 2003 compared to 2002 . the decrease was substantially offset by lower other operation and maintenance expenses , higher other income , and lower interest charges . net revenue 2004 compared to 2003 net revenue , which is entergy arkansas' measure of gross margin , consists of operating revenues net of : 1 ) fuel , fuel-related , and purchased power expenses and 2 ) other regulatory credits . following is an analysis of the change in net revenue comparing 2004 to 2003. .
||( in millions )|
|2003 net revenue|$ 998.7|
|deferred fuel cost revisions|-16.9 ( 16.9 )|
|other|-3.4 ( 3.4 )|
|2004 net revenue|$ 978.4|
deferred fuel cost revisions includes the difference between the estimated deferred fuel expense and the actual calculation of recoverable fuel expense , which occurs on an annual basis . deferred fuel cost revisions decreased net revenue due to a revised estimate of fuel costs filed for recovery at entergy arkansas in the march 2004 energy cost recovery rider , which reduced net revenue by $ 11.5 million . the remainder of the variance is due to the 2002 energy cost recovery true-up , made in the first quarter of 2003 , which increased net revenue in 2003 . gross operating revenues , fuel and purchased power expenses , and other regulatory credits gross operating revenues increased primarily due to : 2022 an increase of $ 20.7 million in fuel cost recovery revenues due to an increase in the energy cost recovery rider effective april 2004 ( fuel cost recovery revenues are discussed in note 2 to the domestic utility companies and system energy financial statements ) ; 2022 an increase of $ 15.5 million in grand gulf revenues due to an increase in the grand gulf rider effective january 2004 ; 2022 an increase of $ 13.9 million in gross wholesale revenue primarily due to increased sales to affiliated systems ; 2022 an increase of $ 9.5 million due to volume/weather primarily resulting from increased usage during the unbilled sales period , partially offset by the effect of milder weather on billed sales in 2004. .
Question: what is the growth rate in net revenue in 2004 for entergy arkansas 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: |
2953.0 | Context:see note 10 goodwill and other intangible assets for further discussion of the accounting for goodwill and other intangible assets . the estimated amount of rbc bank ( usa ) revenue and net income ( excluding integration costs ) included in pnc 2019s consolidated income statement for 2012 was $ 1.0 billion and $ 273 million , respectively . upon closing and conversion of the rbc bank ( usa ) transaction , subsequent to march 2 , 2012 , separate records for rbc bank ( usa ) as a stand-alone business have not been maintained as the operations of rbc bank ( usa ) have been fully integrated into pnc . rbc bank ( usa ) revenue and earnings disclosed above reflect management 2019s best estimate , based on information available at the reporting date . the following table presents certain unaudited pro forma information for illustrative purposes only , for 2012 and 2011 as if rbc bank ( usa ) had been acquired on january 1 , 2011 . the unaudited estimated pro forma information combines the historical results of rbc bank ( usa ) with the company 2019s consolidated historical results and includes certain adjustments reflecting the estimated impact of certain fair value adjustments for the respective periods . the pro forma information is not indicative of what would have occurred had the acquisition taken place on january 1 , 2011 . in particular , no adjustments have been made to eliminate the impact of other-than-temporary impairment losses and losses recognized on the sale of securities that may not have been necessary had the investment securities been recorded at fair value as of january 1 , 2011 . the unaudited pro forma information does not consider any changes to the provision for credit losses resulting from recording loan assets at fair value . additionally , the pro forma financial information does not include the impact of possible business model changes and does not reflect pro forma adjustments to conform accounting policies between rbc bank ( usa ) and pnc . additionally , pnc expects to achieve further operating cost savings and other business synergies , including revenue growth , as a result of the acquisition that are not reflected in the pro forma amounts that follow . as a result , actual results will differ from the unaudited pro forma information presented . table 57 : rbc bank ( usa ) and pnc unaudited pro forma results .
|in millions|for the year ended december 31 2012|for the year ended december 31 2011|
|total revenues|$ 15721|$ 15421|
|net income|2989|2911|
in connection with the rbc bank ( usa ) acquisition and other prior acquisitions , pnc recognized $ 267 million of integration charges in 2012 . pnc recognized $ 42 million of integration charges in 2011 in connection with prior acquisitions . the integration charges are included in the table above . sale of smartstreet effective october 26 , 2012 , pnc divested certain deposits and assets of the smartstreet business unit , which was acquired by pnc as part of the rbc bank ( usa ) acquisition , to union bank , n.a . smartstreet is a nationwide business focused on homeowner or community association managers and had approximately $ 1 billion of assets and deposits as of september 30 , 2012 . the gain on sale was immaterial and resulted in a reduction of goodwill and core deposit intangibles of $ 46 million and $ 13 million , respectively . results from operations of smartstreet from march 2 , 2012 through october 26 , 2012 are included in our consolidated income statement . flagstar branch acquisition effective december 9 , 2011 , pnc acquired 27 branches in the northern metropolitan atlanta , georgia area from flagstar bank , fsb , a subsidiary of flagstar bancorp , inc . the fair value of the assets acquired totaled approximately $ 211.8 million , including $ 169.3 million in cash , $ 24.3 million in fixed assets and $ 18.2 million of goodwill and intangible assets . we also assumed approximately $ 210.5 million of deposits associated with these branches . no deposit premium was paid and no loans were acquired in the transaction . our consolidated income statement includes the impact of the branch activity subsequent to our december 9 , 2011 acquisition . bankatlantic branch acquisition effective june 6 , 2011 , we acquired 19 branches in the greater tampa , florida area from bankatlantic , a subsidiary of bankatlantic bancorp , inc . the fair value of the assets acquired totaled $ 324.9 million , including $ 256.9 million in cash , $ 26.0 million in fixed assets and $ 42.0 million of goodwill and intangible assets . we also assumed approximately $ 324.5 million of deposits associated with these branches . a $ 39.0 million deposit premium was paid and no loans were acquired in the transaction . our consolidated income statement includes the impact of the branch activity subsequent to our june 6 , 2011 acquisition . sale of pnc global investment servicing on july 1 , 2010 , we sold pnc global investment servicing inc . ( gis ) , a leading provider of processing , technology and business intelligence services to asset managers , broker- dealers and financial advisors worldwide , for $ 2.3 billion in cash pursuant to a definitive agreement entered into on february 2 , 2010 . this transaction resulted in a pretax gain of $ 639 million , net of transaction costs , in the third quarter of 2010 . this gain and results of operations of gis through june 30 , 2010 are presented as income from discontinued operations , net of income taxes , on our consolidated income statement . as part of the sale agreement , pnc has agreed to provide certain transitional services on behalf of gis until completion of related systems conversion activities . 138 the pnc financial services group , inc . 2013 form 10-k .
Question: excluding recognized in 2011 in connection with prior acquisitions , what would net income be in millions? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.17647 | Context:we maintain an effective universal shelf registration that allows for the public offering and sale of debt securities , capital securities , common stock , depositary shares and preferred stock , and warrants to purchase such securities , including any shares into which the preferred stock and depositary shares may be convertible , or any combination thereof . we have , as discussed previously , issued in the past , and we may issue in the future , securities pursuant to the shelf registration . the issuance of debt or equity securities will depend on future market conditions , funding needs and other factors . additional information about debt and equity securities issued pursuant to this shelf registration is provided in notes 9 and 12 to the consolidated financial statements included under item 8 . we currently maintain a corporate commercial paper program , under which we can issue up to $ 3 billion with original maturities of up to 270 days from the date of issue . at december 31 , 2011 , we had $ 2.38 billion of commercial paper outstanding , compared to $ 2.80 billion at december 31 , 2010 . additional information about our corporate commercial paper program is provided in note 8 to the consolidated financial statements included under item 8 . state street bank had initial board authority to issue bank notes up to an aggregate of $ 5 billion , including up to $ 1 billion of subordinated bank notes . approximately $ 2.05 billion was available under this board authority as of december 31 , 2011 . in 2011 , $ 2.45 billion of senior notes , which were outstanding at december 31 , 2010 , matured . state street bank currently maintains a line of credit with a financial institution of cad $ 800 million , or approximately $ 787 million as of december 31 , 2011 , to support its canadian securities processing operations . the line of credit has no stated termination date and is cancelable by either party with prior notice . as of december 31 , 2011 , no balance was outstanding on this line of credit . contractual cash obligations .
|as of december 31 2011 ( in millions )|payments due by period total|payments due by period less than 1 year|payments due by period 1-3 years|payments due by period 4-5 years|payments due by period over 5 years|
|long-term debt ( 1 )|$ 9276|$ 1973|$ 1169|$ 1944|$ 4190|
|operating leases|1129|237|389|228|275|
|capital lease obligations|989|68|136|138|647|
|total contractual cash obligations|$ 11394|$ 2278|$ 1694|$ 2310|$ 5112|
( 1 ) long-term debt excludes capital lease obligations ( presented as a separate line item ) and the effect of interest-rate swaps . interest payments were calculated at the stated rate with the exception of floating-rate debt , for which payments were calculated using the indexed rate in effect as of december 31 , 2011 . the obligations presented in the table above are recorded in our consolidated statement of condition at december 31 , 2011 , except for interest on long-term debt and capital lease obligations . the table does not include obligations which will be settled in cash , primarily in less than one year , such as deposits , federal funds purchased , securities sold under repurchase agreements and other short-term borrowings . additional information about deposits , federal funds purchased , securities sold under repurchase agreements and other short-term borrowings is provided in notes 7 and 8 to the consolidated financial statements included under item 8 . the table does not include obligations related to derivative instruments , because the amounts included in our consolidated statement of condition at december 31 , 2011 related to derivatives do not represent the amounts that may ultimately be paid under the contracts upon settlement . additional information about derivative contracts is provided in note 16 to the consolidated financial statements included under item 8 . we have obligations under pension and other post-retirement benefit plans , more fully described in note 18 to the consolidated financial statements included under item 8 , which are not included in the above table . additional information about contractual cash obligations related to long-term debt and operating and capital leases is provided in notes 9 and 19 to the consolidated financial statements included under item 8 . the consolidated statement of cash flows , also included under item 8 , provides additional liquidity information. .
Question: what was the percent change in the value of commercial paper outstanding between 2010 and 2011? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
613009.2 | Context:we are required under the terms of our preferred stock to pay scheduled quarterly dividends , subject to legally available funds . for so long as the preferred stock remains outstanding , ( 1 ) we will not declare , pay or set apart funds for the payment of any dividend or other distribution with respect to any junior stock or parity stock and ( 2 ) neither we , nor any of our subsidiaries , will , subject to certain exceptions , redeem , purchase or otherwise acquire for consideration junior stock or parity stock through a sinking fund or otherwise , in each case unless we have paid or set apart funds for the payment of all accumulated and unpaid dividends with respect to the shares of preferred stock and any parity stock for all preceding dividend periods . pursuant to this policy , we paid quarterly dividends of $ 0.265625 per share on our preferred stock on february 1 , 2009 , may 1 , 2009 , august 3 , 2009 and november 2 , 2009 and similar quarterly dividends during each quarter of 2008 . the annual cash dividend declared and paid during the years ended december 31 , 2009 and 2008 were $ 10 million and $ 10 million , respectively . on january 5 , 2010 , we declared a cash dividend of $ 0.265625 per share on our preferred stock amounting to $ 3 million and a cash dividend of $ 0.04 per share on our series a common stock amounting to $ 6 million . both cash dividends are for the period from november 2 , 2009 to january 31 , 2010 and were paid on february 1 , 2010 to holders of record as of january 15 , 2010 . on february 1 , 2010 , we announced we would elect to redeem all of our outstanding preferred stock on february 22 , 2010 . holders of the preferred stock also have the right to convert their shares at any time prior to 5:00 p.m. , new york city time , on february 19 , 2010 , the business day immediately preceding the february 22 , 2010 redemption date . based on the number of outstanding shares as of december 31 , 2009 and considering the redemption of our preferred stock , cash dividends to be paid in 2010 are expected to result in annual dividend payments less than those paid in 2009 . the amount available to us to pay cash dividends is restricted by our senior credit agreement . any decision to declare and pay dividends in the future will be made at the discretion of our board of directors and will depend on , among other things , our results of operations , cash requirements , financial condition , contractual restrictions and other factors that our board of directors may deem relevant . celanese purchases of its equity securities the table below sets forth information regarding repurchases of our series a common stock during the three months ended december 31 , 2009 : period total number of shares purchased ( 1 ) average price paid per share total number of shares purchased as part of publicly announced program approximate dollar value of shares remaining that may be purchased under the program .
|period|total number of shares purchased ( 1 )|average price paid per share|total number of shares purchased as part of publicly announced program|approximate dollar value of shares remaining that may be purchased under the program|
|october 1-31 2009|24980|$ 24.54|-|$ 122300000.00|
|november 1-30 2009|-|$ -|-|$ 122300000.00|
|december 1-31 2009|334|$ 32.03|-|$ 122300000.00|
( 1 ) relates to shares employees have elected to have withheld to cover their statutory minimum withholding requirements for personal income taxes related to the vesting of restricted stock units . no shares were purchased during the three months ended december 31 , 2009 under our previously announced stock repurchase plan . %%transmsg*** transmitting job : d70731 pcn : 033000000 ***%%pcmsg|33 |00012|yes|no|02/10/2010 05:41|0|0|page is valid , no graphics -- color : n| .
Question: what is the total amount spent for the purchased shares during october 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: |
4574.28571 | Context:notes to consolidated financial statements note 11 . income taxes 2013 ( continued ) the federal income tax return for 2006 is subject to examination by the irs . in addition for 2007 and 2008 , the irs has invited the company to participate in the compliance assurance process ( 201ccap 201d ) , which is a voluntary program for a limited number of large corporations . under cap , the irs conducts a real-time audit and works contemporaneously with the company to resolve any issues prior to the filing of the tax return . the company has agreed to participate . the company believes this approach should reduce tax-related uncertainties , if any . the company and/or its subsidiaries also file income tax returns in various state , local and foreign jurisdictions . these returns , with few exceptions , are no longer subject to examination by the various taxing authorities before as discussed in note 1 , the company adopted the provisions of fin no . 48 , 201caccounting for uncertainty in income taxes , 201d on january 1 , 2007 . as a result of the implementation of fin no . 48 , the company recognized a decrease to beginning retained earnings on january 1 , 2007 of $ 37 million . the total amount of unrecognized tax benefits as of the date of adoption was approximately $ 70 million . included in the balance at january 1 , 2007 , were $ 51 million of tax positions that if recognized would affect the effective tax rate . a reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows : ( in millions ) .
|balance january 1 2007|$ 70|
|additions based on tax positions related to the current year|12|
|additions for tax positions of prior years|3|
|reductions for tax positions related to the current year|-23 ( 23 )|
|settlements|-6 ( 6 )|
|expiration of statute of limitations|-3 ( 3 )|
|balance december 31 2007|$ 53|
the company anticipates that it is reasonably possible that payments of approximately $ 2 million will be made primarily due to the conclusion of state income tax examinations within the next 12 months . additionally , certain state and foreign income tax returns will no longer be subject to examination and as a result , there is a reasonable possibility that the amount of unrecognized tax benefits will decrease by $ 7 million . at december 31 , 2007 , there were $ 42 million of tax benefits that if recognized would affect the effective rate . the company recognizes interest accrued related to : ( 1 ) unrecognized tax benefits in interest expense and ( 2 ) tax refund claims in other revenues on the consolidated statements of income . the company recognizes penalties in income tax expense ( benefit ) on the consolidated statements of income . during 2007 , the company recorded charges of approximately $ 4 million for interest expense and $ 2 million for penalties . provision has been made for the expected u.s . federal income tax liabilities applicable to undistributed earnings of subsidiaries , except for certain subsidiaries for which the company intends to invest the undistributed earnings indefinitely , or recover such undistributed earnings tax-free . at december 31 , 2007 , the company has not provided deferred taxes of $ 126 million , if sold through a taxable sale , on $ 361 million of undistributed earnings related to a domestic affiliate . the determination of the amount of the unrecognized deferred tax liability related to the undistributed earnings of foreign subsidiaries is not practicable . in connection with a non-recurring distribution of $ 850 million to diamond offshore from a foreign subsidiary , a portion of which consisted of earnings of the subsidiary that had not previously been subjected to u.s . federal income tax , diamond offshore recognized $ 59 million of u.s . federal income tax expense as a result of the distribution . it remains diamond offshore 2019s intention to indefinitely reinvest future earnings of the subsidiary to finance foreign activities . total income tax expense for the years ended december 31 , 2007 , 2006 and 2005 , was different than the amounts of $ 1601 million , $ 1557 million and $ 639 million , computed by applying the statutory u.s . federal income tax rate of 35% ( 35 % ) to income before income taxes and minority interest for each of the years. .
Question: what is the income before tax in 2007? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
17288.05 | Context:containerboard , kraft papers and saturating kraft . kapstone also owns victory packaging , a packaging solutions distribution company with facilities in the u.s. , canada and mexico . we have included the financial results of kapstone in our corrugated packaging segment since the date of the acquisition . on september 4 , 2018 , we completed the acquisition ( the 201cschl fcter acquisition 201d ) of schl fcter print pharma packaging ( 201cschl fcter 201d ) . schl fcter is a leading provider of differentiated paper and packaging solutions and a german-based supplier of a full range of leaflets and booklets . the schl fcter acquisition allowed us to further enhance our pharmaceutical and automotive platform and expand our geographical footprint in europe to better serve our customers . we have included the financial results of the acquired operations in our consumer packaging segment since the date of the acquisition . on january 5 , 2018 , we completed the acquisition ( the 201cplymouth packaging acquisition 201d ) of substantially all of the assets of plymouth packaging , inc . ( 201cplymouth 201d ) . the assets we acquired included plymouth 2019s 201cbox on demand 201d systems , which are manufactured by panotec , an italian manufacturer of packaging machines . the addition of the box on demand systems enhanced our platform , differentiation and innovation . these systems , which are located on customers 2019 sites under multi-year exclusive agreements , use fanfold corrugated to produce custom , on-demand corrugated packaging that is accurately sized for any product type according to the customer 2019s specifications . fanfold corrugated is continuous corrugated board , folded periodically to form an accordion-like stack of corrugated material . as part of the transaction , westrock acquired plymouth 2019s equity interest in panotec and plymouth 2019s exclusive right from panotec to distribute panotec 2019s equipment in the u.s . and canada . we have fully integrated the approximately 60000 tons of containerboard used by plymouth annually . we have included the financial results of plymouth in our corrugated packaging segment since the date of the acquisition . see 201cnote 3 . acquisitions and investment 201d of the notes to consolidated financial statements for additional information . see also item 1a . 201crisk factors 2014 we may be unsuccessful in making and integrating mergers , acquisitions and investments , and completing divestitures 201d . business .
|( in millions )|year ended september 30 , 2019|year ended september 30 , 2018|
|net sales|$ 18289.0|$ 16285.1|
|segment income|$ 1790.2|$ 1707.6|
in fiscal 2019 , we continued to pursue our strategy of offering differentiated paper and packaging solutions that help our customers win . we successfully executed this strategy in fiscal 2019 in a rapidly changing cost and price environment . net sales of $ 18289.0 million for fiscal 2019 increased $ 2003.9 million , or 12.3% ( 12.3 % ) , compared to fiscal 2018 . the increase was primarily due to the kapstone acquisition and higher selling price/mix in our corrugated packaging and consumer packaging segments . these increases were partially offset by the absence of recycling net sales in fiscal 2019 as a result of conducting the operations primarily as a procurement function beginning in the first quarter of fiscal 2019 , lower volumes , unfavorable foreign currency impacts across our segments compared to the prior year and decreased land and development net sales . segment income increased $ 82.6 million in fiscal 2019 compared to fiscal 2018 , primarily due to increased corrugated packaging segment income that was partially offset by lower consumer packaging and land and development segment income . the impact of the contribution from the acquired kapstone operations , higher selling price/mix across our segments and productivity improvements was largely offset by lower volumes across our segments , economic downtime , cost inflation , increased maintenance and scheduled strategic outage expense ( including projects at our mahrt , al and covington , va mills ) and lower land and development segment income due to the wind-down of sales . with respect to segment income , we experienced higher levels of cost inflation in both our corrugated packaging and consumer packaging segments during fiscal 2019 as compared to fiscal 2018 that were partially offset by recovered fiber deflation . the primary inflationary items were virgin fiber , freight , energy and wage and other costs . we generated $ 2310.2 million of net cash provided by operating activities in fiscal 2019 , compared to $ 1931.2 million in fiscal 2018 . we remained committed to our disciplined capital allocation strategy during fiscal .
Question: what was the average net sales between 2018 and 2019 | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
108.66667 | Context:compared to 2007 . we reduced personal injury expense by $ 80 million in 2007 as a result of fewer than expected claims and lower than expected average settlement costs . in 2008 , we reduced personal injury expense and asbestos-related costs $ 82 million based on the results of updated personal injury actuarial studies and a reassessment of our potential liability for resolution of current and future asbestos claims . in addition , environmental and toxic tort expenses were $ 7 million lower in 2008 compared to 2007 . other costs were lower in 2007 compared to 2006 driven primarily by a reduction in personal injury expense . actuarial studies completed during 2007 resulted in a reduction in personal injury expense of $ 80 million , which was partially offset by an adverse development with respect to one claim . settlement of insurance claims in 2007 related to hurricane rita , and higher equity income also drove expenses lower in 2007 versus 2006 . conversely , the year-over-year comparison was affected by the settlement of insurance claims totaling $ 23 million in 2006 related to the january 2005 west coast storm and a $ 9 million gain in 2006 from the sale of two company-owned airplanes . non-operating items millions of dollars 2008 2007 2006 % ( % ) change 2008 v 2007 % ( % ) change 2007 v 2006 .
|millions of dollars|2008|2007|2006|% ( % ) change 2008 v 2007|% ( % ) change 2007 v 2006|
|other income|$ 92|$ 116|$ 118|( 21 ) % ( % )|( 2 ) % ( % )|
|interest expense|-511 ( 511 )|-482 ( 482 )|-477 ( 477 )|6|1|
|income taxes|-1318 ( 1318 )|-1154 ( 1154 )|-919 ( 919 )|14 % ( % )|26 % ( % )|
other income 2013 other income decreased in 2008 compared to 2007 due to lower gains from real estate sales and decreased returns on cash investments reflecting lower interest rates . higher rental and licensing income and lower interest expense on our sale of receivables program partially offset the decreases . lower net gains from non-operating asset sales ( primarily real estate ) drove the reduction in other income in 2007 . recognition of rental income in 2006 from the settlement of a rent dispute also contributed to the year-over-year decrease in other income . cash investment returns increased $ 21 million due to larger cash balances and higher interest rates . interest expense 2013 interest expense increased in 2008 versus 2007 due to a higher weighted-average debt level of $ 8.3 billion , compared to $ 7.3 billion in 2007 . a lower effective interest rate of 6.1% ( 6.1 % ) in 2008 , compared to 6.6% ( 6.6 % ) in 2007 , partially offset the effects of the higher weighted-average debt level . an increase in the weighted-average debt levels to $ 7.3 billion from $ 7.1 billion in 2006 generated higher interest expense in 2007 . a lower effective interest rate of 6.6% ( 6.6 % ) in 2007 , compared to 6.7% ( 6.7 % ) in 2006 , partially offset the effects of the higher debt level . income taxes 2013 income taxes were higher in 2008 compared to 2007 , driven by higher pre-tax income . our effective tax rates were 36.1% ( 36.1 % ) and 38.4% ( 38.4 % ) in 2008 and 2007 , respectively . the lower effective tax rate in 2008 resulted from several reductions in tax expense related to federal audits and state tax law changes . in addition , the effective tax rate in 2007 was increased by illinois legislation that increased deferred tax expense in the third quarter of 2007 . income taxes were $ 235 million higher in 2007 compared to 2006 , due primarily to higher pre-tax income and the effect of new tax legislation in the state of illinois that changed how we determine the amount of our income subject to illinois tax . the illinois legislation increased our deferred tax expense by $ 27 million in 2007 . our effective tax rates were 38.4% ( 38.4 % ) and 36.4% ( 36.4 % ) in 2007 and 2006 , respectively. .
Question: what was the average other income | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
7.3 | Context:entergy arkansas , inc . management's financial discussion and analysis results of operations net income 2008 compared to 2007 net income decreased $ 92.0 million primarily due to higher other operation and maintenance expenses , higher depreciation and amortization expenses , and a higher effective income tax rate , partially offset by higher net revenue . the higher other operation and maintenance expenses resulted primarily from the write-off of approximately $ 70.8 million of costs as a result of the december 2008 arkansas court of appeals decision in entergy arkansas' base rate case . the base rate case is discussed in more detail in note 2 to the financial statements . 2007 compared to 2006 net income decreased $ 34.0 million primarily due to higher other operation and maintenance expenses , higher depreciation and amortization expenses , and a higher effective income tax rate . the decrease was partially offset by higher net revenue . net revenue 2008 compared to 2007 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory credits . following is an analysis of the change in net revenue comparing 2008 to 2007 . amount ( in millions ) .
||amount ( in millions )|
|2007 net revenue|$ 1110.6|
|rider revenue|13.6|
|purchased power capacity|4.8|
|volume/weather|-14.6 ( 14.6 )|
|other|3.5|
|2008 net revenue|$ 1117.9|
the rider revenue variance is primarily due to an energy efficiency rider which became effective in november 2007 . the establishment of the rider results in an increase in rider revenue and a corresponding increase in other operation and maintenance expense with no effect on net income . also contributing to the variance was an increase in franchise tax rider revenue as a result of higher retail revenues . the corresponding increase is in taxes other than income taxes , resulting in no effect on net income . the purchased power capacity variance is primarily due to lower reserve equalization expenses . the volume/weather variance is primarily due to the effect of less favorable weather on residential and commercial sales during the billed and unbilled sales periods compared to 2007 and a 2.9% ( 2.9 % ) volume decrease in industrial sales , primarily in the wood industry and the small customer class . billed electricity usage decreased 333 gwh in all sectors . see "critical accounting estimates" below and note 1 to the financial statements for further discussion of the accounting for unbilled revenues. .
Question: what is the net change in net revenue during 2008 for entergy arkansas? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
20.97 | Context:discount to brent was narrower in 2013 than in 2012 and 2011 . as a result of the significant increase in u.s . production of light sweet crude oil , the historical relationship between wti , brent and lls pricing may not be indicative of future periods . composition 2013 the proportion of our liquid hydrocarbon sales volumes that are ngls continues to increase due to our development of united states unconventional liquids-rich plays . ngls were 15 percent of our north america e&p liquid hydrocarbon sales volumes in 2013 compared to 10 percent in 2012 and 7 percent in 2011 . natural gas 2013 a significant portion of our natural gas production in the u.s . is sold at bid-week prices , or first-of-month indices relative to our specific producing areas . average henry hub settlement prices for natural gas were 31 percent higher for 2013 than for 2012 . international e&p liquid hydrocarbons 2013 our international e&p crude oil production is relatively sweet and has historically sold in relation to the brent crude benchmark , which on average was 3 percent lower for 2013 than 2012 . natural gas 2013 our major international e&p natural gas-producing regions are europe and e.g . natural gas prices in europe have been considerably higher than the u.s . in recent years . in the case of e.g. , our natural gas sales are subject to term contracts , making realized prices in these areas less volatile . the natural gas sales from e.g . are at fixed prices ; therefore , our reported average international e&p natural gas realized prices may not fully track market price movements . oil sands mining the oil sands mining segment produces and sells various qualities of synthetic crude oil . output mix can be impacted by operational problems or planned unit outages at the mines or upgrader . sales prices for roughly two-thirds of the normal output mix has historically tracked movements in wti and one-third has historically tracked movements in the canadian heavy crude oil marker , primarily wcs . the wcs discount to wti has been increasing on average in each year presented below . despite a wider wcs discount in 2013 , our average oil sands mining price realizations increased due to a greater proportion of higher value synthetic crude oil sales volumes compared to 2012 . the operating cost structure of the oil sands mining operations is predominantly fixed and therefore many of the costs incurred in times of full operation continue during production downtime . per-unit costs are sensitive to production rates . key variable costs are natural gas and diesel fuel , which track commodity markets such as the aeco natural gas sales index and crude oil prices , respectively . the table below shows average benchmark prices that impact both our revenues and variable costs: .
|benchmark|2013|2012|2011|
|wti crude oil ( dollars per bbl )|$ 98.05|$ 94.15|$ 95.11|
|wcs ( dollars per bbl ) ( a )|$ 72.77|$ 73.18|$ 77.97|
|aeco natural gas sales index ( dollars per mmbtu ) ( b )|$ 3.08|$ 2.39|$ 3.68|
wcs ( dollars per bbl ) ( a ) $ 72.77 $ 73.18 $ 77.97 aeco natural gas sales index ( dollars per mmbtu ) ( b ) $ 3.08 $ 2.39 $ 3.68 ( a ) monthly pricing based upon average wti adjusted for differentials unique to western canada . ( b ) monthly average day ahead index. .
Question: how much more was the average wti crude price than the wcs price 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: |
27135097.77 | Context:dividends and distributions we pay regular quarterly dividends to holders of our common stock . on february 16 , 2007 , our board of directors declared the first quarterly installment of our 2007 dividend in the amount of $ 0.475 per share , payable on march 30 , 2007 to stockholders of record on march 20 , 2007 . we expect to distribute 100% ( 100 % ) or more of our taxable net income to our stockholders for 2007 . our board of directors normally makes decisions regarding the frequency and amount of our dividends on a quarterly basis . because the board considers a number of factors when making these decisions , we cannot assure you that we will maintain the policy stated above . please see 201ccautionary statements 201d and the risk factors included in part i , item 1a of this annual report on form 10-k for a description of other factors that may affect our distribution policy . our stockholders may reinvest all or a portion of any cash distribution on their shares of our common stock by participating in our distribution reinvestment and stock purchase plan , subject to the terms of the plan . see 201cnote 15 2014capital stock 201d of the notes to consolidated financial statements included in item 8 of this annual report on form 10-k . director and employee stock sales certain of our directors , executive officers and other employees have adopted and may , from time to time in the future , adopt non-discretionary , written trading plans that comply with rule 10b5-1 under the exchange act , or otherwise monetize their equity-based compensation . securities authorized for issuance under equity compensation plans the following table summarizes information with respect to our equity compensation plans as of december 31 , 2006 : plan category number of securities to be issued upon exercise of outstanding options , warrants and rights weighted average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) equity compensation plans approved by stockholders ( 1 ) . . 1118051 $ 24.27 8373727 equity compensation plans not approved by stockholders ( 2 ) . . 18924 n/a 1145354 .
|plan category|( a ) number of securities to be issued upon exercise of outstanding options warrants andrights|( b ) weighted average exercise price of outstanding options warrants and rights|( c ) number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a )|
|equity compensation plans approved by stockholders ( 1 )|1118051|$ 24.27|8373727|
|equity compensation plans not approved by stockholders ( 2 )|18924|n/a|1145354|
|total|1136975|$ 24.27|9519081|
( 1 ) these plans consist of ( i ) the 1987 incentive compensation program ( employee plan ) ; ( ii ) the theratx , incorporated 1996 stock option/stock issuance plan ; ( iii ) the 2000 incentive compensation plan ( employee plan ) ( formerly known as the 1997 incentive compensation plan ) ; ( iv ) the 2004 stock plan for directors ( which amended and restated the 2000 stock option plan for directors ( formerly known as the 1997 stock option plan for non-employee directors ) ) ; ( v ) the employee and director stock purchase plan ; ( vi ) the 2006 incentive plan ; and ( vii ) the 2006 stock plan for directors . ( 2 ) these plans consist of ( i ) the common stock purchase plan for directors , under which our non-employee directors may receive common stock in lieu of directors 2019 fees , ( ii ) the nonemployee director deferred stock compensation plan , under which our non-employee directors may receive units convertible on a one-for-one basis into common stock in lieu of director fees , and ( iii ) the executive deferred stock compensation plan , under which our executive officers may receive units convertible on a one-for-one basis into common stock in lieu of compensation. .
Question: what is the total cost of equity compensation plans approved by stockholders? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
46.67488 | Context:devon energy corporation and subsidiaries notes to consolidated financial statements 2013 ( continued ) proved undeveloped reserves the following table presents the changes in devon 2019s total proved undeveloped reserves during 2012 ( in mmboe ) . .
||u.s .|canada|total|
|proved undeveloped reserves as of december 31 2011|403|379|782|
|extensions and discoveries|134|68|202|
|revisions due to prices|-47 ( 47 )|9|-38 ( 38 )|
|revisions other than price|-10 ( 10 )|-6 ( 6 )|-16 ( 16 )|
|conversion to proved developed reserves|-73 ( 73 )|-17 ( 17 )|-90 ( 90 )|
|proved undeveloped reserves as of december 31 2012|407|433|840|
at december 31 , 2012 , devon had 840 mmboe of proved undeveloped reserves . this represents a 7 percent increase as compared to 2011 and represents 28 percent of its total proved reserves . drilling and development activities increased devon 2019s proved undeveloped reserves 203 mmboe and resulted in the conversion of 90 mmboe , or 12 percent , of the 2011 proved undeveloped reserves to proved developed reserves . costs incurred related to the development and conversion of devon 2019s proved undeveloped reserves were $ 1.3 billion for 2012 . additionally , revisions other than price decreased devon 2019s proved undeveloped reserves 16 mmboe primarily due to its evaluation of certain u.s . onshore dry-gas areas , which it does not expect to develop in the next five years . the largest revisions relate to the dry-gas areas at carthage in east texas and the barnett shale in north texas . a significant amount of devon 2019s proved undeveloped reserves at the end of 2012 largely related to its jackfish operations . at december 31 , 2012 and 2011 , devon 2019s jackfish proved undeveloped reserves were 429 mmboe and 367 mmboe , respectively . development schedules for the jackfish reserves are primarily controlled by the need to keep the processing plants at their 35000 barrel daily facility capacity . processing plant capacity is controlled by factors such as total steam processing capacity , steam-oil ratios and air quality discharge permits . as a result , these reserves are classified as proved undeveloped for more than five years . currently , the development schedule for these reserves extends though the year 2031 . price revisions 2012 - reserves decreased 171 mmboe primarily due to lower gas prices . of this decrease , 100 mmboe related to the barnett shale and 25 mmboe related to the rocky mountain area . 2011 - reserves decreased 21 mmboe due to lower gas prices and higher oil prices . the higher oil prices increased devon 2019s canadian royalty burden , which reduced devon 2019s oil reserves . 2010 - reserves increased 72 mmboe due to higher gas prices , partially offset by the effect of higher oil prices . the higher oil prices increased devon 2019s canadian royalty burden , which reduced devon 2019s oil reserves . of the 72 mmboe price revisions , 43 mmboe related to the barnett shale and 22 mmboe related to the rocky mountain area . revisions other than price total revisions other than price for 2012 and 2011 primarily related to devon 2019s evaluation of certain dry gas regions noted in the proved undeveloped reserves discussion above . total revisions other than price for 2010 primarily related to devon 2019s drilling and development in the barnett shale. .
Question: what percentage of total proved undeveloped reserves from canada from 2011-2012 was its proved undeveloped reserves as of dec 31 , 2011? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
321.28514 | Context:the company granted 1020 performance shares . the vesting of these shares is contingent on meeting stated goals over a performance period . beginning with restricted stock grants in september 2010 , dividends are accrued on restricted class a common stock and restricted stock units and are paid once the restricted stock vests . the following table summarizes restricted stock and performance shares activity for 2010 : number of shares weighted average grant date fair value .
||number of shares|weighted average grant date fair value|
|outstanding at december 31 2009|116677|$ 280|
|granted|134245|275|
|vested|-34630 ( 34630 )|257|
|cancelled|-19830 ( 19830 )|260|
|outstanding at december 31 2010|196462|283|
the total fair value of restricted stock that vested during the years ended december 31 , 2010 , 2009 and 2008 , was $ 10.3 million , $ 6.2 million and $ 2.5 million , respectively . eligible employees may acquire shares of cme group 2019s class a common stock using after-tax payroll deductions made during consecutive offering periods of approximately six months in duration . shares are purchased at the end of each offering period at a price of 90% ( 90 % ) of the closing price of the class a common stock as reported on the nasdaq . compensation expense is recognized on the dates of purchase for the discount from the closing price . in 2010 , 2009 and 2008 , a total of 4371 , 4402 and 5600 shares , respectively , of class a common stock were issued to participating employees . these shares are subject to a six-month holding period . annual expense of $ 0.1 million for the purchase discount was recognized in 2010 , 2009 and 2008 , respectively . non-executive directors receive an annual award of class a common stock with a value equal to $ 75000 . non-executive directors may also elect to receive some or all of the cash portion of their annual stipend , up to $ 25000 , in shares of stock based on the closing price at the date of distribution . as a result , 7470 , 11674 and 5509 shares of class a common stock were issued to non-executive directors during 2010 , 2009 and 2008 , respectively . these shares are not subject to any vesting restrictions . expense of $ 2.4 million , $ 2.5 million and $ 2.4 million related to these stock-based payments was recognized for the years ended december 31 , 2010 , 2009 and 2008 , respectively. .
Question: for 2010 , given the class a common stock issued to non-executive directors and the recognized expense , what is the approximate deemed fair value per share at date of issuance? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.11503 | Context:the goldman sachs group , inc . and subsidiaries notes to consolidated financial statements long-term debt instruments the aggregate contractual principal amount of long-term other secured financings for which the fair value option was elected exceeded the related fair value by $ 361 million and $ 362 million as of december 2016 and december 2015 , respectively . the aggregate contractual principal amount of unsecured long-term borrowings for which the fair value option was elected exceeded the related fair value by $ 1.56 billion and $ 1.12 billion as of december 2016 and december 2015 , respectively . the amounts above include both principal- and non-principal-protected long-term borrowings . impact of credit spreads on loans and lending commitments the estimated net gain attributable to changes in instrument-specific credit spreads on loans and lending commitments for which the fair value option was elected was $ 281 million for 2016 , $ 751 million for 2015 and $ 1.83 billion for 2014 , respectively . the firm generally calculates the fair value of loans and lending commitments for which the fair value option is elected by discounting future cash flows at a rate which incorporates the instrument-specific credit spreads . for floating-rate loans and lending commitments , substantially all changes in fair value are attributable to changes in instrument-specific credit spreads , whereas for fixed-rate loans and lending commitments , changes in fair value are also attributable to changes in interest rates . debt valuation adjustment the firm calculates the fair value of financial liabilities for which the fair value option is elected by discounting future cash flows at a rate which incorporates the firm 2019s credit spreads . the net dva on such financial liabilities was a loss of $ 844 million ( $ 544 million , net of tax ) for 2016 and was included in 201cdebt valuation adjustment 201d in the consolidated statements of comprehensive income . the gains/ ( losses ) reclassified to earnings from accumulated other comprehensive loss upon extinguishment of such financial liabilities were not material for 2016 . note 9 . loans receivable loans receivable is comprised of loans held for investment that are accounted for at amortized cost net of allowance for loan losses . interest on loans receivable is recognized over the life of the loan and is recorded on an accrual basis . the table below presents details about loans receivable. .
|$ in millions|as of december 2016|as of december 2015|
|corporate loans|$ 24837|$ 20740|
|loans to private wealth management clients|13828|13961|
|loans backed by commercial real estate|4761|5271|
|loans backed by residential real estate|3865|2316|
|other loans|2890|3533|
|total loans receivable gross|50181|45821|
|allowance for loan losses|-509 ( 509 )|-414 ( 414 )|
|total loans receivable|$ 49672|$ 45407|
as of december 2016 and december 2015 , the fair value of loans receivable was $ 49.80 billion and $ 45.19 billion , respectively . as of december 2016 , had these loans been carried at fair value and included in the fair value hierarchy , $ 28.40 billion and $ 21.40 billion would have been classified in level 2 and level 3 , respectively . as of december 2015 , had these loans been carried at fair value and included in the fair value hierarchy , $ 23.91 billion and $ 21.28 billion would have been classified in level 2 and level 3 , respectively . the firm also extends lending commitments that are held for investment and accounted for on an accrual basis . as of december 2016 and december 2015 , such lending commitments were $ 98.05 billion and $ 93.92 billion , respectively . substantially all of these commitments were extended to corporate borrowers and were primarily related to the firm 2019s relationship lending activities . the carrying value and the estimated fair value of such lending commitments were liabilities of $ 327 million and $ 2.55 billion , respectively , as of december 2016 , and $ 291 million and $ 3.32 billion , respectively , as of december 2015 . as of december 2016 , had these lending commitments been carried at fair value and included in the fair value hierarchy , $ 1.10 billion and $ 1.45 billion would have been classified in level 2 and level 3 , respectively . as of december 2015 , had these lending commitments been carried at fair value and included in the fair value hierarchy , $ 1.35 billion and $ 1.97 billion would have been classified in level 2 and level 3 , respectively . goldman sachs 2016 form 10-k 147 .
Question: what percentage of total loans receivable gross in 2015 were loans backed by commercial real estate? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.00602 | Context:d u k e r e a l t y c o r p o r a t i o n 1 6 2 0 0 2 a n n u a l r e p o r t management 2019s discussion and analysis of financial conditionand results of operations the indenture governing the company 2019s unsecured notes also requires the company to comply with financial ratios and other covenants regarding the operations of the company . the company is currently in compliance with all such covenants and expects to remain in compliance in the foreseeable future . in january 2003 , the company completed an issuance of unsecured debt totaling $ 175 million bearing interest at 5.25% ( 5.25 % ) , due 2010 . sale of real estate assets the company utilizes sales of real estate assets as an additional source of liquidity . during 2000 and 2001 , the company engaged in a capital-recycling program that resulted in sales of over $ 1 billion of real estate assets during these two years . in 2002 , this program was substantially reduced as capital needs were met through other sources and the slower business climate provided few opportunities to profitably reinvest sales proceeds . the company continues to pursue opportunities to sell real estate assets when beneficial to the long-term strategy of the company . uses of liquidity the company 2019s principal uses of liquidity include the following : 2022 property investments and recurring leasing/capital costs ; 2022 dividends and distributions to shareholders and unitholders ; 2022 long-term debt maturities ; and 2022 the company 2019s common stock repurchase program . property investments and other capital expenditures one of the company 2019s principal uses of its liquidity is for the development , acquisition and recurring leasing/capital expendi- tures of its real estate investments . a summary of the company 2019s recurring capital expenditures is as follows ( in thousands ) : dividends and distributions in order to qualify as a reit for federal income tax purposes , the company must currently distribute at least 90% ( 90 % ) of its taxable income to its shareholders and duke realty limited partnership ( 201cdrlp 201d ) unitholders . the company paid dividends of $ 1.81 , $ 1.76 and $ 1.64 for the years ended december 31 , 2002 , 2001 and 2000 , respectively . the company expects to continue to distribute taxable earnings to meet the requirements to maintain its reit status . however , distributions are declared at the discretion of the company 2019s board of directors and are subject to actual cash available for distribution , the company 2019s financial condition , capital requirements and such other factors as the company 2019s board of directors deems relevant . debt maturities debt outstanding at december 31 , 2002 , totaled $ 2.1 billion with a weighted average interest rate of 6.25% ( 6.25 % ) maturing at various dates through 2028 . the company had $ 1.8 billion of unsecured debt and $ 299.1 million of secured debt outstanding at december 31 , 2002 . scheduled principal amortization of such debt totaled $ 10.9 million for the year ended december 31 , 2002 . following is a summary of the scheduled future amortization and maturities of the company 2019s indebtedness at december 31 , 2002 ( in thousands ) : .
||2002|2001|2000|
|tenant improvements|$ 28011|$ 18416|$ 31955|
|leasing costs|17975|13845|17530|
|building improvements|13373|10873|6804|
|totals|$ 59359|$ 43134|$ 56289|
.
Question: at december 31 , 2002 what was the ratio of the company unsecured debt to the secured debt 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: |
0.16979 | Context:humana inc . notes to consolidated financial statements 2014 ( continued ) the total intrinsic value of stock options exercised during 2007 was $ 133.9 million , compared with $ 133.7 million during 2006 and $ 57.8 million during 2005 . cash received from stock option exercises for the years ended december 31 , 2007 , 2006 , and 2005 totaled $ 62.7 million , $ 49.2 million , and $ 36.4 million , respectively . total compensation expense related to nonvested options not yet recognized was $ 23.6 million at december 31 , 2007 . we expect to recognize this compensation expense over a weighted average period of approximately 1.6 years . restricted stock awards restricted stock awards are granted with a fair value equal to the market price of our common stock on the date of grant . compensation expense is recorded straight-line over the vesting period , generally three years from the date of grant . the weighted average grant date fair value of our restricted stock awards was $ 63.59 , $ 54.36 , and $ 32.81 for the years ended december 31 , 2007 , 2006 , and 2005 , respectively . activity for our restricted stock awards was as follows for the year ended december 31 , 2007 : shares weighted average grant-date fair value .
||shares|weighted average grant-date fair value|
|nonvested restricted stock at december 31 2006|1107455|$ 45.86|
|granted|852353|63.59|
|vested|-51206 ( 51206 )|56.93|
|forfeited|-63624 ( 63624 )|49.65|
|nonvested restricted stock at december 31 2007|1844978|$ 53.61|
the fair value of shares vested during the years ended december 31 , 2007 , 2006 , and 2005 was $ 3.4 million , $ 2.3 million , and $ 0.6 million , respectively . total compensation expense related to nonvested restricted stock awards not yet recognized was $ 44.7 million at december 31 , 2007 . we expect to recognize this compensation expense over a weighted average period of approximately 1.4 years . there are no other contractual terms covering restricted stock awards once vested. .
Question: what was the percent of the change in the weighted average grant date fair value of our restricted stock awards from 2006 to 2007 | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.30516 | Context:changes in the fair value of funded and unfunded credit products are classified in principal transactions in citi 2019s consolidated statement of income . related interest revenue is measured based on the contractual interest rates and reported as interest revenue on trading account assets or loan interest depending on the balance sheet classifications of the credit products . the changes in fair value for the years ended december 31 , 2018 and 2017 due to instrument-specific credit risk totaled to a loss of $ 27 million and a gain of $ 10 million , respectively . certain investments in unallocated precious metals citigroup invests in unallocated precious metals accounts ( gold , silver , platinum and palladium ) as part of its commodity and foreign currency trading activities or to economically hedge certain exposures from issuing structured liabilities . under asc 815 , the investment is bifurcated into a debt host contract and a commodity forward derivative instrument . citigroup elects the fair value option for the debt host contract , and reports the debt host contract within trading account assets on the company 2019s consolidated balance sheet . the total carrying amount of debt host contracts across unallocated precious metals accounts was approximately $ 0.4 billion and $ 0.9 billion at december 31 , 2018 and 2017 , respectively . the amounts are expected to fluctuate based on trading activity in future periods . as part of its commodity and foreign currency trading activities , citi trades unallocated precious metals investments and executes forward purchase and forward sale derivative contracts with trading counterparties . when citi sells an unallocated precious metals investment , citi 2019s receivable from its depository bank is repaid and citi derecognizes its investment in the unallocated precious metal . the forward purchase or sale contract with the trading counterparty indexed to unallocated precious metals is accounted for as a derivative , at fair value through earnings . as of december 31 , 2018 , there were approximately $ 13.7 billion and $ 10.3 billion in notional amounts of such forward purchase and forward sale derivative contracts outstanding , respectively . certain investments in private equity and real estate ventures and certain equity method and other investments citigroup invests in private equity and real estate ventures for the purpose of earning investment returns and for capital appreciation . the company has elected the fair value option for certain of these ventures , because such investments are considered similar to many private equity or hedge fund activities in citi 2019s investment companies , which are reported at fair value . the fair value option brings consistency in the accounting and evaluation of these investments . all investments ( debt and equity ) in such private equity and real estate entities are accounted for at fair value . these investments are classified as investments on citigroup 2019s consolidated balance sheet . changes in the fair values of these investments are classified in other revenue in the company 2019s consolidated statement of income . citigroup also elected the fair value option for certain non-marketable equity securities whose risk is managed with derivative instruments that are accounted for at fair value through earnings . these securities are classified as trading account assets on citigroup 2019s consolidated balance sheet . changes in the fair value of these securities and the related derivative instruments are recorded in principal transactions . effective january 1 , 2018 under asu 2016-01 and asu 2018-03 , a fair value option election is no longer required to measure these non-marketable equity securities through earnings . see note 1 to the consolidated financial statements for additional details . certain mortgage loans held-for-sale citigroup has elected the fair value option for certain purchased and originated prime fixed-rate and conforming adjustable-rate first mortgage loans hfs . these loans are intended for sale or securitization and are hedged with derivative instruments . the company has elected the fair value option to mitigate accounting mismatches in cases where hedge accounting is complex and to achieve operational simplifications . the following table provides information about certain mortgage loans hfs carried at fair value: .
|in millions of dollars|december 312018|december 31 2017|
|carrying amount reported on the consolidated balance sheet|$ 556|$ 426|
|aggregate fair value in excess of ( less than ) unpaid principal balance|21|14|
|balance of non-accrual loans or loans more than 90 days past due|2014|2014|
|aggregate unpaid principal balance in excess of fair value for non-accrual loans or loans more than 90 days past due|2014|2014|
the changes in the fair values of these mortgage loans are reported in other revenue in the company 2019s consolidated statement of income . there was no net change in fair value during the years ended december 31 , 2018 and 2017 due to instrument-specific credit risk . related interest income continues to be measured based on the contractual interest rates and reported as interest revenue in the consolidated statement of income. .
Question: what was the percent of the carrying amount reported on the consolidated balance sheet of certain mortgage loans hfs from 2017 to 2018 | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
47286.09 | Context:jpmorgan chase & co./2016 annual report 49 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 . cib 2019s markets businesses represent both fixed income markets and equity markets . the data presented below are non-gaap financial measures due to the exclusion of net interest income from cib 2019s markets businesses ( 201ccib markets 201d ) . management believes this exclusion 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 . year ended december 31 , ( in millions , except rates ) 2016 2015 2014 net interest income 2013 managed basis ( a ) ( b ) $ 47292 $ 44620 $ 44619 less : cib markets net interest income ( c ) 6334 5298 6032 net interest income excluding cib markets ( a ) $ 40958 $ 39322 $ 38587 average interest-earning assets $ 2101604 $ 2088242 $ 2049093 less : average cib markets interest-earning assets ( c ) 520307 510292 522989 average interest-earning assets excluding cib markets $ 1581297 $ 1577950 $ 1526104 net interest yield on average interest-earning assets 2013 managed basis 2.25% ( 2.25 % ) 2.14% ( 2.14 % ) 2.18% ( 2.18 % ) net interest yield on average cib markets interest- earning assets ( c ) 1.22 1.04 1.15 net interest yield on average interest-earning assets excluding cib markets 2.59% ( 2.59 % ) 2.49% ( 2.49 % ) 2.53% ( 2.53 % ) ( 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 48 . ( c ) prior period amounts were revised to align with cib 2019s markets businesses . for further information on cib 2019s markets businesses , see page 61 . 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 )|2016|2015|2014|
|net interest income 2013 managed basis ( a ) ( b )|$ 47292|$ 44620|$ 44619|
|less : cib markets net interest income ( c )|6334|5298|6032|
|net interest income excluding cib markets ( a )|$ 40958|$ 39322|$ 38587|
|average interest-earning assets|$ 2101604|$ 2088242|$ 2049093|
|less : average cib markets interest-earning assets ( c )|520307|510292|522989|
|average interest-earning assets excluding cib markets|$ 1581297|$ 1577950|$ 1526104|
|net interest yield on average interest-earning assets 2013 managed basis|2.25% ( 2.25 % )|2.14% ( 2.14 % )|2.18% ( 2.18 % )|
|net interest yield on average cib markets interest-earning assets ( c )|1.22|1.04|1.15|
|net interest yield on average interest-earning assets excluding cib markets|2.59% ( 2.59 % )|2.49% ( 2.49 % )|2.53% ( 2.53 % )|
jpmorgan chase & co./2016 annual report 49 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 . cib 2019s markets businesses represent both fixed income markets and equity markets . the data presented below are non-gaap financial measures due to the exclusion of net interest income from cib 2019s markets businesses ( 201ccib markets 201d ) . management believes this exclusion 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 . year ended december 31 , ( in millions , except rates ) 2016 2015 2014 net interest income 2013 managed basis ( a ) ( b ) $ 47292 $ 44620 $ 44619 less : cib markets net interest income ( c ) 6334 5298 6032 net interest income excluding cib markets ( a ) $ 40958 $ 39322 $ 38587 average interest-earning assets $ 2101604 $ 2088242 $ 2049093 less : average cib markets interest-earning assets ( c ) 520307 510292 522989 average interest-earning assets excluding cib markets $ 1581297 $ 1577950 $ 1526104 net interest yield on average interest-earning assets 2013 managed basis 2.25% ( 2.25 % ) 2.14% ( 2.14 % ) 2.18% ( 2.18 % ) net interest yield on average cib markets interest- earning assets ( c ) 1.22 1.04 1.15 net interest yield on average interest-earning assets excluding cib markets 2.59% ( 2.59 % ) 2.49% ( 2.49 % ) 2.53% ( 2.53 % ) ( 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 48 . ( c ) prior period amounts were revised to align with cib 2019s markets businesses . for further information on cib 2019s markets businesses , see page 61 . 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 would a 225bp yield be on the 2016 average interest-earning assets , 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: |
565.0 | Context:liquidity and capital resources the following table presents selected financial information and statistics for each of the last three fiscal years ( dollars in millions ) : .
||2004|2003|2002|
|cash cash equivalents and short-term investments|$ 5464|$ 4566|$ 4337|
|accounts receivable net|$ 774|$ 766|$ 565|
|inventory|$ 101|$ 56|$ 45|
|working capital|$ 4375|$ 3530|$ 3730|
|days sales in accounts receivable ( dso ) ( a )|30|41|36|
|days of supply in inventory ( b )|5|4|4|
|days payables outstanding ( dpo ) ( c )|76|82|77|
|annual operating cash flow|$ 934|$ 289|$ 89|
( a ) dso is based on ending net trade receivables and most recent quarterly net sales for each period . ( b ) days supply of inventory is based on ending inventory and most recent quarterly cost of sales for each period . ( c ) dpo is based on ending accounts payable and most recent quarterly cost of sales adjusted for the change in inventory . as of september 25 , 2004 , the company had $ 5.464 billion in cash , cash equivalents , and short-term investments , an increase of $ 898 million over the same balances at the end of fiscal 2003 . the principal components of this increase were cash generated by operating activities of $ 934 million and proceeds of $ 427 million from the issuance of common stock under stock plans , partially offset by cash used to repay the company 2019s outstanding debt of $ 300 million and purchases of property , plant , and equipment of $ 176 million . the company 2019s short-term investment portfolio is primarily invested in high credit quality , liquid investments . approximately $ 3.2 billion of this cash , cash equivalents , and short-term investments are held by the company 2019s foreign subsidiaries and would be subject to u.s . income taxation on repatriation to the u.s . the company is currently assessing the impact of the one-time favorable foreign dividend provisions recently enacted as part of the american jobs creation act of 2004 , and may decide to repatriate earnings from some of its foreign subsidiaries . the company believes its existing balances of cash , cash equivalents , and short-term investments will be sufficient to satisfy its working capital needs , capital expenditures , stock repurchase activity , outstanding commitments , and other liquidity requirements associated with its existing operations over the next 12 months . in february 2004 , the company retired $ 300 million of debt outstanding in the form of 6.5% ( 6.5 % ) unsecured notes . the notes were originally issued in 1994 and were sold at 99.9925% ( 99.9925 % ) of par for an effective yield to maturity of 6.51% ( 6.51 % ) . the company currently has no long-term debt obligations . capital expenditures the company 2019s total capital expenditures were $ 176 million during fiscal 2004 , $ 104 million of which were for retail store facilities and equipment related to the company 2019s retail segment and $ 72 million of which were primarily for corporate infrastructure , including information systems enhancements and operating facilities enhancements and expansions . the company currently anticipates it will utilize approximately $ 240 million for capital expenditures during 2005 , approximately $ 125 million of which is expected to be utilized for further expansion of the company 2019s retail segment and the remainder utilized to support normal replacement of existing capital assets and enhancements to general information technology infrastructure. .
Question: what was the lowest amount of accounts receivable net , 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: |
-54.0 | Context:notes to consolidated financial statements ( continued ) note 8 2014commitments and contingencies ( continued ) the following table reconciles changes in the company 2019s accrued warranties and related costs ( in millions ) : .
||2007|2006|2005|
|beginning accrued warranty and related costs|$ 284|$ 188|$ 105|
|cost of warranty claims|-281 ( 281 )|-267 ( 267 )|-188 ( 188 )|
|accruals for product warranties|227|363|271|
|ending accrued warranty and related costs|$ 230|$ 284|$ 188|
the company generally does not indemnify end-users of its operating system and application software against legal claims that the software infringes third-party intellectual property rights . other agreements entered into by the company sometimes include indemnification provisions under which the company could be subject to costs and/or damages in the event of an infringement claim against the company or an indemnified third-party . however , the company has not been required to make any significant payments resulting from such an infringement claim asserted against itself or an indemnified third-party and , in the opinion of management , does not have a potential liability related to unresolved infringement claims subject to indemnification that would have a material adverse effect on its financial condition or operating results . therefore , the company did not record a liability for infringement costs as of either september 29 , 2007 or september 30 , 2006 . concentrations in the available sources of supply of materials and product certain key components including , but not limited to , microprocessors , enclosures , certain lcds , certain optical drives , and application-specific integrated circuits ( 2018 2018asics 2019 2019 ) are currently obtained by the company from single or limited sources which subjects the company to supply and pricing risks . many of these and other key components that are available from multiple sources including , but not limited to , nand flash memory , dram memory , and certain lcds , are at times subject to industry-wide shortages and significant commodity pricing fluctuations . in addition , the company has entered into certain agreements for the supply of critical components at favorable pricing , and there is no guarantee that the company will be able to extend or renew these agreements when they expire . therefore , the company remains subject to significant risks of supply shortages and/or price increases that can adversely affect gross margins and operating margins . in addition , the company uses some components that are not common to the rest of the global personal computer , consumer electronics and mobile communication industries , and new products introduced by the company often utilize custom components obtained from only one source until the company has evaluated whether there is a need for and subsequently qualifies additional suppliers . if the supply of a key single-sourced component to the company were to be delayed or curtailed , or in the event a key manufacturing vendor delays shipments of completed products to the company , the company 2019s ability to ship related products in desired quantities and in a timely manner could be adversely affected . the company 2019s business and financial performance could also be 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 may be affected if producers were to decide to concentrate on the production of common components instead of components customized to meet the company 2019s requirements . finally , significant portions of the company 2019s cpus , ipods , iphones , logic boards , and other assembled products are now manufactured by outsourcing partners , primarily in various parts of asia . a significant concentration of this outsourced manufacturing is currently performed by only a few of the company 2019s outsourcing partners , often in single locations . certain of these outsourcing partners are the sole-sourced supplier of components and manufacturing outsourcing for many of the company 2019s key products , including but not limited to , assembly .
Question: what was the change in ending accrued warranty and related cost between 2006 and 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: |
3.64 | Context:net cash used by investing activities in 2013 also included $ 38.2 million for the may 13 , 2013 acquisition of challenger . see note 2 to the consolidated financial statements for information on the challenger acquisition . capital expenditures in 2013 , 2012 and 2011 totaled $ 70.6 million , $ 79.4 million and $ 61.2 million , respectively . capital expenditures in 2013 included continued investments related to the company 2019s execution of its strategic value creation processes around safety , quality , customer connection , innovation and rci initiatives . capital expenditures in all three years included spending to support the company 2019s strategic growth initiatives . in 2013 , the company continued to invest in new product , efficiency , safety and cost reduction initiatives to expand and improve its manufacturing capabilities worldwide . in 2012 , the company completed the construction of a fourth factory in kunshan , china , following the 2011 construction of a new engineering and research and development facility in kunshan . capital expenditures in all three years also included investments , particularly in the united states , in new product , efficiency , safety and cost reduction initiatives , as well as investments in new production and machine tooling to enhance manufacturing operations , and ongoing replacements of manufacturing and distribution equipment . capital spending in all three years also included spending for the replacement and enhancement of the company 2019s global enterprise resource planning ( erp ) management information systems , as well as spending to enhance the company 2019s corporate headquarters and research and development facilities in kenosha , wisconsin . snap-on believes that its cash generated from operations , as well as its available cash on hand and funds available from its credit facilities will be sufficient to fund the company 2019s capital expenditure requirements in 2014 . financing activities net cash used by financing activities was $ 137.8 million in 2013 , $ 127.0 million in 2012 and $ 293.7 million in 2011 . net cash used by financing activities in 2011 reflects the august 2011 repayment of $ 200 million of unsecured 6.25% ( 6.25 % ) notes upon maturity with available cash . proceeds from stock purchase and option plan exercises totaled $ 29.2 million in 2013 , $ 46.8 million in 2012 and $ 25.7 million in 2011 . snap-on has undertaken stock repurchases from time to time to offset dilution created by shares issued for employee and franchisee stock purchase plans , stock options and other corporate purposes . in 2013 , snap-on repurchased 926000 shares of its common stock for $ 82.6 million under its previously announced share repurchase programs . as of 2013 year end , snap-on had remaining availability to repurchase up to an additional $ 191.7 million in common stock pursuant to its board of directors 2019 ( the 201cboard 201d ) authorizations . the purchase of snap-on common stock is at the company 2019s discretion , subject to prevailing financial and market conditions . snap-on repurchased 1180000 shares of its common stock for $ 78.1 million in 2012 ; snap-on repurchased 628000 shares of its common stock for $ 37.4 million in 2011 . snap-on believes that its cash generated from operations , available cash on hand , and funds available from its credit facilities , will be sufficient to fund the company 2019s share repurchases , if any , in 2014 . snap-on has paid consecutive quarterly cash dividends , without interruption or reduction , since 1939 . cash dividends paid in 2013 , 2012 and 2011 totaled $ 92.0 million , $ 81.5 million and $ 76.7 million , respectively . on november 8 , 2013 , the company announced that its board increased the quarterly cash dividend by 15.8% ( 15.8 % ) to $ 0.44 per share ( $ 1.76 per share per year ) . quarterly dividends declared in 2013 were $ 0.44 per share in the fourth quarter and $ 0.38 per share in the first three quarters ( $ 1.58 per share for the year ) . quarterly dividends declared in 2012 were $ 0.38 per share in the fourth quarter and $ 0.34 per share in the first three quarters ( $ 1.40 per share for the year ) . quarterly dividends in 2011 were $ 0.34 per share in the fourth quarter and $ 0.32 per share in the first three quarters ( $ 1.30 per share for the year ) . .
||2013|2012|2011|
|cash dividends paid per common share|$ 1.58|$ 1.40|$ 1.30|
|cash dividends paid as a percent of prior-year retained earnings|4.5% ( 4.5 % )|4.4% ( 4.4 % )|4.7% ( 4.7 % )|
cash dividends paid as a percent of prior-year retained earnings 4.5% ( 4.5 % ) 4.4% ( 4.4 % ) snap-on believes that its cash generated from operations , available cash on hand and funds available from its credit facilities will be sufficient to pay dividends in 2014 . off-balance-sheet arrangements except as included below in the section labeled 201ccontractual obligations and commitments 201d and note 15 to the consolidated financial statements , the company had no off-balance-sheet arrangements as of 2013 year end . 2013 annual report 49 .
Question: what was the average cash dividends paid per common share from 2011 to 2013 | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.25232 | Context:realignment and other 201d expenses . acquisition , integration , realignment and other expenses for the years ended december 31 , 2009 , 2008 and 2007 , included ( in millions ) : .
||2009|2008|2007|
|adjustment or impairment of acquired assets and obligations net|$ -1.5 ( 1.5 )|$ -10.4 ( 10.4 )|$ -1.2 ( 1.2 )|
|consulting and professional fees|11.7|13.2|1.0|
|employee severance and retention including share-based compensation acceleration|19.0|0.2|1.6|
|information technology integration|1.1|0.7|2.6|
|in-process research & development|2013|38.5|6.5|
|vacated facilities|1.4|2013|2013|
|facility and employee relocation|5.4|7.5|2013|
|distributor acquisitions|1.1|6.9|4.1|
|certain litigation matters|23.4|2013|2013|
|contract terminations|9.4|5.7|5.4|
|other|4.3|6.2|5.2|
|acquisition integration realignment and other|$ 75.3|$ 68.5|$ 25.2|
adjustment or impairment of acquired assets and obligations relates to impairment on assets that were acquired in business combinations or adjustments to certain liabilities of acquired companies due to changes in circumstances surrounding those liabilities subsequent to the related measurement period . consulting and professional fees relate to third-party integration consulting performed in a variety of areas such as tax , compliance , logistics and human resources and include third-party fees related to severance and termination benefits matters . these fees also include legal fees related to litigation matters involving acquired businesses that existed prior to our acquisition or resulted from our acquisition . during 2009 , we commenced a global realignment initiative to focus on business opportunities that best support our strategic priorities . as part of this realignment , we initiated changes in our work force , eliminating positions in some areas and increasing others . approximately 300 employees from across the globe were affected by these actions . as a result of these changes in our work force and headcount reductions from acquisitions , we recorded expense of $ 19.0 million related to severance and other employee termination-related costs . these termination benefits were provided in accordance with our existing or local government policies and are considered ongoing benefits . these costs were accrued when they became probable and estimable and were recorded as part of other current liabilities . the majority of these costs were paid during 2009 . information technology integration relates to the non- capitalizable costs associated with integrating the information systems of acquired businesses . in-process research and development charges for 2008 relate to the acquisition of abbott spine . in-process research and development charges for 2007 relate to the acquisitions of endius and orthosoft . in 2009 , we ceased using certain leased facilities and , accordingly , recorded expense for the remaining lease payments , less estimated sublease recoveries , and wrote-off any assets being used in those facilities . facility and employee relocation relates to costs associated with relocating certain facilities . most notably , we consolidated our legacy european distribution centers into a new distribution center in eschbach , germany . over the past three years we have acquired a number of u.s . and foreign-based distributors . we have incurred various costs related to the acquisition and integration of those businesses . certain litigation matters relate to costs recognized during the year for the estimated or actual settlement of various legal matters , including patent litigation matters , commercial litigation matters and matters arising from our acquisitions of certain competitive distributorships in prior years . we recognize expense for the potential settlement of a legal matter when we believe it is probable that a loss has been incurred and we can reasonably estimate the loss . in 2009 , we made a concerted effort to settle many of these matters to avoid further litigation costs . contract termination costs relate to terminated agreements in connection with the integration of acquired companies . the terminated contracts primarily relate to sales agents and distribution agreements . cash and cash equivalents 2013 we consider all highly liquid investments with an original maturity of three months or less to be cash equivalents . the carrying amounts reported in the balance sheet for cash and cash equivalents are valued at cost , which approximates their fair value . certificates of deposit 2013 we invest in cash deposits with original maturities greater than three months and classify these investments as certificates of deposit on our consolidated balance sheet . the carrying amounts reported in the balance sheet for certificates of deposit are valued at cost , which approximates their fair value . inventories 2013 inventories , net of allowances for obsolete and slow-moving goods , are stated at the lower of cost or market , with cost determined on a first-in first-out basis . property , plant and equipment 2013 property , plant and equipment is carried at cost less accumulated depreciation . depreciation is computed using the straight-line method based on estimated useful lives of ten to forty years for buildings and improvements and three to eight years for machinery and equipment . maintenance and repairs are expensed as incurred . we review property , plant and equipment for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable . an impairment loss would be recognized when estimated future undiscounted cash flows relating to the asset are less than its carrying amount . an impairment loss is measured as the amount by which the carrying amount of an asset exceeds its fair value . z i m m e r h o l d i n g s , i n c . 2 0 0 9 f o r m 1 0 - k a n n u a l r e p o r t notes to consolidated financial statements ( continued ) %%transmsg*** transmitting job : c55340 pcn : 043000000 ***%%pcmsg|43 |00008|yes|no|02/24/2010 01:32|0|0|page is valid , no graphics -- color : d| .
Question: what is the expense related to severance and other employee termination-related costs as a percentage of the acquisition integration realignment and other expenses in 2009? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-0.96554 | Context:performance graph the annual changes for the period shown december 1 , 2013 ( when our ordinary shares began trading ) to december 31 , 2017 in the graph on this page are based on the assumption that $ 100 had been invested in allegion plc ordinary shares , the standard & poor 2019s 500 stock index ( "s&p 500" ) and the standard & poor's 400 capital goods index ( "s&p 400 capital goods" ) on december 1 , 2013 , and that all quarterly dividends were reinvested . the total cumulative dollar returns shown on the graph represent the value that such investments would have had on december 31 , 2017 . december 1 , december 31 , december 31 , december 31 , december 31 , december 31 .
||december 1 2013|december 31 2013|december 31 2014|december 31 2015|december 31 2016|december 31 2017|
|allegion plc|100.00|102.20|129.03|154.37|150.97|189.19|
|s&p 500|100.00|102.53|116.57|118.18|132.31|161.20|
|s&p 400 capital goods|100.00|104.58|104.84|99.07|130.70|162.97|
.
Question: what is the annualized return for the investment in the allegion plc during 2013-2017? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.05576 | Context:the analysis of our depreciation studies . changes in the estimated service lives of our assets and their related depreciation rates are implemented prospectively . under group depreciation , the historical cost ( net of salvage ) of depreciable property that is retired or replaced in the ordinary course of business is charged to accumulated depreciation and no gain or loss is recognized . the historical cost of certain track assets is estimated using ( i ) inflation indices published by the bureau of labor statistics and ( ii ) the estimated useful lives of the assets as determined by our depreciation studies . the indices were selected because they closely correlate with the major costs of the properties comprising the applicable track asset classes . because of the number of estimates inherent in the depreciation and retirement processes and because it is impossible to precisely estimate each of these variables until a group of property is completely retired , we continually monitor the estimated service lives of our assets and the accumulated depreciation associated with each asset class to ensure our depreciation rates are appropriate . in addition , we determine if the recorded amount of accumulated depreciation is deficient ( or in excess ) of the amount indicated by our depreciation studies . any deficiency ( or excess ) is amortized as a component of depreciation expense over the remaining service lives of the applicable classes of assets . for retirements of depreciable railroad properties that do not occur in the normal course of business , a gain or loss may be recognized if the retirement meets each of the following three conditions : ( i ) is unusual , ( ii ) is material in amount , and ( iii ) varies significantly from the retirement profile identified through our depreciation studies . a gain or loss is recognized in other income when we sell land or dispose of assets that are not part of our railroad operations . when we purchase an asset , we capitalize all costs necessary to make the asset ready for its intended use . however , many of our assets are self-constructed . a large portion of our capital expenditures is for replacement of existing track assets and other road properties , which is typically performed by our employees , and for track line expansion and other capacity projects . costs that are directly attributable to capital projects ( including overhead costs ) are capitalized . direct costs that are capitalized as part of self- constructed assets include material , labor , and work equipment . indirect costs are capitalized if they clearly relate to the construction of the asset . general and administrative expenditures are expensed as incurred . normal repairs and maintenance are also expensed as incurred , while costs incurred that extend the useful life of an asset , improve the safety of our operations or improve operating efficiency are capitalized . these costs are allocated using appropriate statistical bases . total expense for repairs and maintenance incurred was $ 2.3 billion for 2013 , $ 2.1 billion for 2012 , and $ 2.2 billion for 2011 . assets held under capital leases are recorded at the lower of the net present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease . amortization expense is computed using the straight-line method over the shorter of the estimated useful lives of the assets or the period of the related lease . 12 . accounts payable and other current liabilities dec . 31 , dec . 31 , millions 2013 2012 .
|millions|dec . 31 2013|dec . 312012|
|accounts payable|$ 803|$ 825|
|income and other taxes payable|491|368|
|accrued wages and vacation|385|376|
|dividends payable|356|318|
|accrued casualty costs|207|213|
|interest payable|169|172|
|equipment rents payable|96|95|
|other|579|556|
|total accounts payable and othercurrent liabilities|$ 3086|$ 2923|
.
Question: what was the percentage change in the total accounts payable and other current liabilities | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
15.8 | Context:performance graph the following graph compares the cumulative five-year total return provided shareholders on our class a common stock relative to the cumulative total returns of the s&p 500 index and two customized peer groups . the old peer group includes intercontinentalexchange , inc. , nyse euronext and the nasdaq omx group inc . the new peer group is the same as the old peer group with the addition of cboe holdings , inc . which completed its initial public offering in june 2010 . an investment of $ 100 ( with reinvestment of all dividends ) is assumed to have been made in our class a common stock , in the peer groups and the s&p 500 index on december 31 , 2005 and its relative performance is tracked through december 31 , 2010 . comparison of 5 year cumulative total return* among cme group inc. , the s&p 500 index , an old peer group and a new peer group 12/05 12/06 12/07 12/08 12/09 12/10 cme group inc . s&p 500 old peer group *$ 100 invested on 12/31/05 in stock or index , including reinvestment of dividends . fiscal year ending december 31 . copyright a9 2011 s&p , a division of the mcgraw-hill companies inc . all rights reserved . new peer group the stock price performance included in this graph is not necessarily indicative of future stock price performance .
||2006|2007|2008|2009|2010|
|cme group inc .|$ 139.48|$ 188.81|$ 58.66|$ 96.37|$ 93.73|
|s&p 500|115.80|122.16|76.96|97.33|111.99|
|old peer group|155.58|190.78|72.25|76.11|87.61|
|new peer group|155.58|190.78|72.25|76.11|87.61|
.
Question: what was the percentual return for s&p 500 in the first year? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.69568 | Context:notes to consolidated financial statements derivatives with credit-related contingent features certain of the firm 2019s derivatives have been transacted under bilateral agreements with counterparties who may require the firm to post collateral or terminate the transactions based on changes in the firm 2019s credit ratings . the firm assesses the impact of these bilateral agreements by determining the collateral or termination payments that would occur assuming a downgrade by all rating agencies . a downgrade by any one rating agency , depending on the agency 2019s relative ratings of the firm at the time of the downgrade , may have an impact which is comparable to the impact of a downgrade by all rating agencies . the table below presents the aggregate fair value of net derivative liabilities under such agreements ( excluding application of collateral posted to reduce these liabilities ) , the related aggregate fair value of the assets posted as collateral , and the additional collateral or termination payments that could have been called at the reporting date by counterparties in the event of a one-notch and two-notch downgrade in the firm 2019s credit ratings. .
|$ in millions|as of december 2014|as of december 2013|
|net derivative liabilities under bilateral agreements|$ 35764|$ 22176|
|collateral posted|30824|18178|
|additional collateral or termination payments for a one-notch downgrade|1072|911|
|additional collateral or termination payments for a two-notch downgrade|2815|2989|
additional collateral or termination payments for a one-notch downgrade 1072 911 additional collateral or termination payments for a two-notch downgrade 2815 2989 credit derivatives the firm enters into a broad array of credit derivatives in locations around the world to facilitate client transactions and to manage the credit risk associated with market- making and investing and lending activities . credit derivatives are actively managed based on the firm 2019s net risk position . credit derivatives are individually negotiated contracts and can have various settlement and payment conventions . credit events include failure to pay , bankruptcy , acceleration of indebtedness , restructuring , repudiation and dissolution of the reference entity . credit default swaps . single-name credit default swaps protect the buyer against the loss of principal on one or more bonds , loans or mortgages ( reference obligations ) in the event the issuer ( reference entity ) of the reference obligations suffers a credit event . the buyer of protection pays an initial or periodic premium to the seller and receives protection for the period of the contract . if there is no credit event , as defined in the contract , the seller of protection makes no payments to the buyer of protection . however , if a credit event occurs , the seller of protection is required to make a payment to the buyer of protection , which is calculated in accordance with the terms of the contract . credit indices , baskets and tranches . credit derivatives may reference a basket of single-name credit default swaps or a broad-based index . if a credit event occurs in one of the underlying reference obligations , the protection seller pays the protection buyer . the payment is typically a pro-rata portion of the transaction 2019s total notional amount based on the underlying defaulted reference obligation . in certain transactions , the credit risk of a basket or index is separated into various portions ( tranches ) , each having different levels of subordination . the most junior tranches cover initial defaults and once losses exceed the notional amount of these junior tranches , any excess loss is covered by the next most senior tranche in the capital structure . total return swaps . a total return swap transfers the risks relating to economic performance of a reference obligation from the protection buyer to the protection seller . typically , the protection buyer receives from the protection seller a floating rate of interest and protection against any reduction in fair value of the reference obligation , and in return the protection seller receives the cash flows associated with the reference obligation , plus any increase in the fair value of the reference obligation . 132 goldman sachs 2014 annual report .
Question: what was the percentage change in collateral posted between 2013 and 2014? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
277.46 | Context:performance graph the following graph compares the total return , assuming reinvestment of dividends , on an investment in the company , based on performance of the company's common stock , with the total return of the standard & poor's 500 composite stock index and the dow jones united states travel and leisure index for a five year period by measuring the changes in common stock prices from december 31 , 2012 to december 31 , 2017. .
||12/12|12/13|12/14|12/15|12/16|12/17|
|royal caribbean cruises ltd .|100.00|142.11|251.44|313.65|260.04|385.47|
|s&p 500|100.00|132.39|150.51|152.59|170.84|208.14|
|dow jones us travel & leisure|100.00|145.48|169.28|179.27|192.85|238.77|
the stock performance graph assumes for comparison that the value of the company's common stock and of each index was $ 100 on december 31 , 2012 and that all dividends were reinvested . past performance is not necessarily an indicator of future results. .
Question: what is the mathematical mean for all three investments as of 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: |
-389.0 | Context:llc 201d ) , that will focus on the deployment of a nationwide 4g wire- less network . we , together with the other members of the investor group , have invested $ 3.2 billion in clearwire llc . our portion of the investment was $ 1.05 billion . as a result of our investment , we received ownership units ( 201cownership units 201d ) of clearwire llc and class b stock ( 201cvoting stock 201d ) of clearwire corporation , the pub- licly traded holding company that controls clearwire llc . the voting stock has voting rights equal to those of the publicly traded class a stock of clearwire corporation , but has only minimal economic rights . we hold our economic rights through the owner- ship units , which have limited voting rights . one ownership unit combined with one share of voting stock are exchangeable into one share of clearwire corporation 2019s publicly traded class a stock . at closing , we received 52.5 million ownership units and 52.5 million shares of voting stock , which represents an approx- imate 7% ( 7 % ) ownership interest on a fully diluted basis . during the first quarter of 2009 , the purchase price per share is expected to be adjusted based on the trading prices of clearwire corporation 2019s publicly traded class a stock . after the post-closing adjustment , we anticipate that we will have an approximate 8% ( 8 % ) ownership interest on a fully diluted basis . in connection with the clearwire transaction , we entered into an agreement with sprint that allows us to offer wireless services utilizing certain of sprint 2019s existing wireless networks and an agreement with clearwire llc that allows us to offer wireless serv- ices utilizing clearwire 2019s next generation wireless broadband network . we allocated a portion of our $ 1.05 billion investment to the related agreements . we will account for our investment under the equity method and record our share of net income or loss one quarter in arrears . clearwire llc is expected to incur losses in the early years of operation , which under the equity method of accounting , will be reflected in our future operating results and reduce the cost basis of our investment . we evaluated our investment at december 31 , 2008 to determine if an other than temporary decline in fair value below our cost basis had occurred . the primary input in estimating the fair value of our investment was the quoted market value of clearwire publicly traded class a shares at december 31 , 2008 , which declined significantly from the date of our initial agreement in may 2008 . as a result of the severe decline in the quoted market value , we recognized an impairment in other income ( expense ) of $ 600 million to adjust our cost basis in our investment to its esti- mated fair value . in the future , our evaluation of other than temporary declines in fair value of our investment will include a comparison of actual operating results and updated forecasts to the projected discounted cash flows that were used in making our initial investment decision , other impairment indicators , such as changes in competition or technology , as well as a comparison to the value that would be obtained by exchanging our investment into clearwire corporation 2019s publicly traded class a shares . cost method airtouch communications , inc . we hold two series of preferred stock of airtouch communica- tions , inc . ( 201cairtouch 201d ) , a subsidiary of vodafone , which are redeemable in april 2020 . as of december 31 , 2008 and 2007 , the airtouch preferred stock was recorded at $ 1.479 billion and $ 1.465 billion , respectively . as of december 31 , 2008 , the estimated fair value of the airtouch preferred stock was $ 1.357 billion , which is below our carrying amount . the recent decline in fair value is attributable to changes in interest rates . we have determined this decline to be temporary . the factors considered were the length of time and the extent to which the market value has been less than cost , the credit rating of airtouch , and our intent and ability to retain the investment for a period of time sufficient to allow for recovery . specifically , we expect to hold the two series of airtouch preferred stock until their redemption in 2020 . the dividend and redemption activity of the airtouch preferred stock determines the dividend and redemption payments asso- ciated with substantially all of the preferred shares issued by one of our consolidated subsidiaries , which is a vie . the subsidiary has three series of preferred stock outstanding with an aggregate redemption value of $ 1.750 billion . substantially all of the preferred shares are redeemable in april 2020 at a redemption value of $ 1.650 billion . as of december 31 , 2008 and 2007 , the two redeemable series of subsidiary preferred shares were recorded at $ 1.468 billion and $ 1.465 billion , respectively , and those amounts are included in other noncurrent liabilities . the one nonredeemable series of subsidiary preferred shares was recorded at $ 100 million as of both december 31 , 2008 and 2007 and those amounts are included in minority interest on our consolidated balance sheet . investment income ( loss ) , net .
|year ended december 31 ( in millions )|2008|2007|2006|
|gains on sales and exchanges of investments net|$ 8|$ 151|$ 733|
|investment impairment losses|-28 ( 28 )|-4 ( 4 )|-4 ( 4 )|
|unrealized gains ( losses ) on trading securities and hedged items|-1117 ( 1117 )|315|339|
|mark to market adjustments on derivatives related to trading securities and hedged items|1120|-188 ( 188 )|-238 ( 238 )|
|mark to market adjustments on derivatives|57|160|-18 ( 18 )|
|interest and dividend income|149|199|212|
|other|-100 ( 100 )|-32 ( 32 )|-34 ( 34 )|
|investment income ( loss ) net|$ 89|$ 601|$ 990|
55 comcast 2008 annual report on form 10-k .
Question: what was the percentage change in investment income ( loss ) net from 2006 to 2007? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
760.35 | Context:during 2014 , $ 91 million of provision recapture was recorded for purchased impaired loans compared to $ 11 million of provision expense for 2013 . the charge-offs ( which were specifically for commercial loans greater than a defined threshold ) during 2014 were $ 42 million compared to $ 104 million for 2013 . at december 31 , 2014 , the allowance for loan and lease losses was $ .9 billion on $ 4.4 billion of purchased impaired loans while the remaining $ .5 billion of purchased impaired loans required no allowance as the net present value of expected cash flows equaled or exceeded the recorded investment . as of december 31 , 2013 , the allowance for loan and lease losses related to purchased impaired loans was $ 1.0 billion . if any allowance for loan losses is recognized on a purchased impaired pool , which is accounted for as a single asset , the entire balance of that pool would be disclosed as requiring an allowance . subsequent increases in the net present value of cash flows will result in a provision recapture of any previously recorded allowance for loan and lease losses , to the extent applicable , and/or a reclassification from non-accretable difference to accretable yield , which will be recognized prospectively . individual loan transactions where final dispositions have occurred ( as noted above ) result in removal of the loans from their applicable pools for cash flow estimation purposes . the cash flow re-estimation process is completed quarterly to evaluate the appropriateness of the allowance associated with the purchased impaired loans . activity for the accretable yield during 2014 and 2013 follows : table 72 : purchased impaired loans 2013 accretable yield .
|in millions|2014|2013|
|january 1|$ 2055|$ 2166|
|accretion ( including excess cash recoveries )|-587 ( 587 )|-695 ( 695 )|
|net reclassifications to accretable from non-accretable ( a )|208|613|
|disposals|-118 ( 118 )|-29 ( 29 )|
|december 31|$ 1558|$ 2055|
( a ) approximately 93% ( 93 % ) of net reclassifications for the year ended december 31 , 2014 were within the commercial portfolio as compared to 37% ( 37 % ) for year ended december 31 , 2013 . note 5 allowances for loan and lease losses and unfunded loan commitments and letters of credit allowance for loan and lease losses we maintain the alll at levels that we believe to be appropriate to absorb estimated probable credit losses incurred in the portfolios as of the balance sheet date . we use the two main portfolio segments 2013 commercial lending and consumer lending 2013 and develop and document the alll under separate methodologies for each of these segments as discussed in note 1 accounting policies . a rollforward of the alll and associated loan data is presented below . the pnc financial services group , inc . 2013 form 10-k 143 .
Question: what was the dollar amount in millions for net reclassifications for the year ended december 31 , 2013 due to the commercial portfolio? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.57363 | Context:the goldman sachs group , inc . and subsidiaries management 2019s discussion and analysis other principal transactions revenues in the consolidated statements of earnings were $ 3.20 billion for 2016 , 36% ( 36 % ) lower than 2015 , primarily due to significantly lower revenues from investments in equities , primarily reflecting a significant decrease in net gains from private equities , driven by company-specific events and corporate performance . in addition , revenues in debt securities and loans were significantly lower compared with 2015 , reflecting significantly lower 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 . see note 9 to the consolidated financial statements for further information about economic hedges related to our relationship lending activities . net interest income . net interest income in the consolidated statements of earnings was $ 2.59 billion for 2016 , 16% ( 16 % ) lower than 2015 , reflecting an increase in interest expense primarily due to the impact of higher interest rates on other interest-bearing liabilities , interest- bearing deposits and collateralized financings , and increases in total average long-term borrowings and total average interest-bearing deposits . the increase in interest expense was partially offset by higher interest income related to collateralized agreements , reflecting the impact of higher interest rates , and loans receivable , reflecting an increase in total average balances and the impact of higher interest rates . see 201cstatistical disclosures 2014 distribution of assets , liabilities and shareholders 2019 equity 201d for further information about our sources of net interest income . operating expenses our operating expenses are primarily influenced by compensation , headcount and levels of business activity . compensation and benefits includes salaries , discretionary compensation , amortization of equity awards and other items such as benefits . discretionary compensation is significantly impacted by , among other factors , the level of net revenues , overall financial performance , prevailing labor markets , business mix , the structure of our share- based compensation programs and the external environment . in addition , see 201cuse of estimates 201d for further information about expenses that may arise from litigation and regulatory proceedings . in the context of the challenging environment , we completed an initiative during 2016 that identified areas where we can operate more efficiently , resulting in a reduction of approximately $ 900 million in annual run rate compensation . for 2016 , net savings from this initiative , after severance and other related costs , were approximately $ 500 million . the table below presents our operating expenses and total staff ( including employees , consultants and temporary staff ) . .
|$ in millions|year ended december 2017|year ended december 2016|year ended december 2015|
|compensation and benefits|$ 11853|$ 11647|$ 12678|
|brokerage clearing exchangeand distribution fees|2540|2555|2576|
|market development|588|457|557|
|communications and technology|897|809|806|
|depreciation and amortization|1152|998|991|
|occupancy|733|788|772|
|professional fees|965|882|963|
|other expenses|2213|2168|5699|
|totalnon-compensationexpenses|9088|8657|12364|
|total operating expenses|$ 20941|$ 20304|$ 25042|
|total staff atperiod-end|36600|34400|36800|
in the table above , other expenses for 2015 included $ 3.37 billion recorded for the settlement agreement with the rmbs working group . see note 27 to the consolidated financial statements in part ii , item 8 of our annual report on form 10-k for the year ended december 31 , 2015 for further information . 2017 versus 2016 . operating expenses in the consolidated statements of earnings were $ 20.94 billion for 2017 , 3% ( 3 % ) higher than 2016 . compensation and benefits expenses in the consolidated statements of earnings were $ 11.85 billion for 2017 , 2% ( 2 % ) higher than 2016 . the ratio of compensation and benefits to net revenues for 2017 was 37.0% ( 37.0 % ) compared with 38.1% ( 38.1 % ) for 2016 . non-compensation expenses in the consolidated statements of earnings were $ 9.09 billion for 2017 , 5% ( 5 % ) higher than 2016 , primarily driven by our investments to fund growth . the increase compared with 2016 reflected higher expenses related to consolidated investments and our digital lending and deposit platform , marcus : by goldman sachs ( marcus ) . these increases were primarily included in depreciation and amortization expenses , market development expenses and other expenses . in addition , technology expenses increased , reflecting higher expenses related to cloud-based services and software depreciation , and professional fees increased , primarily related to consulting costs . these increases were partially offset by lower net provisions for litigation and regulatory proceedings , and lower occupancy expenses ( primarily related to exit costs in 2016 ) . net provisions for litigation and regulatory proceedings for 2017 were $ 188 million compared with $ 396 million for 2016 . 2017 included a $ 127 million charitable contribution to goldman sachs gives , our donor-advised fund . compensation was reduced to fund this charitable contribution to goldman sachs gives . we ask our participating managing directors to make recommendations regarding potential charitable recipients for this contribution . 54 goldman sachs 2017 form 10-k .
Question: what portion of total operating expenses is related to compensation and benefits in 2016? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.10116 | Context:expected term 2014 the company uses historical employee exercise and option expiration data to estimate the expected term assumption for the black-scholes grant-date valuation . the company believes that this historical data is currently the best estimate of the expected term of a new option , and that generally its employees exhibit similar exercise behavior . risk-free interest rate 2014 the yield on zero-coupon u.s . treasury securities for a period that is commensurate with the expected term assumption is used as the risk-free interest rate . expected dividend yield 2014 expected dividend yield is calculated by annualizing the cash dividend declared by the company 2019s board of directors for the current quarter and dividing that result by the closing stock price on the date of grant . until such time as the company 2019s board of directors declares a cash dividend for an amount that is different from the current quarter 2019s cash dividend , the current dividend will be used in deriving this assumption . cash dividends are not paid on options , restricted stock or restricted stock units . in connection with the acquisition , the company granted restricted stock awards to replace outstanding restricted stock awards of linear employees . these restricted stock awards entitle recipients to voting and nonforfeitable dividend rights from the date of grant . stock-based compensation expensexp p the amount of stock-based compensation expense recognized during a period is based on the value of the awards that are ultimately expected to vest . forfeitures are estimated at the time of grant and revised , if necessary , in subsequent periods if actual forfeitures differ from those estimates . the term 201cforfeitures 201d is distinct from 201ccancellations 201d or 201cexpirations 201d and represents only the unvested portion of the surrendered stock-based award . based on an analysis of its historical forfeitures , the company has applied an annual forfeitureff rate of 5.0% ( 5.0 % ) to all unvested stock-based awards as of november 2 , 2019 . this analysis will be re-evaluated quarterly and the forfeiture rate will be adjusted as necessary . ultimately , the actual expense recognized over the vesting period will only be for those awards that vest . total stock-based compensation expense recognized is as follows: .
||2019|2018|2017|
|cost of sales|$ 20628|$ 18733|$ 12569|
|research and development|75305|81444|51258|
|selling marketing general and administrative|51829|50988|40361|
|special charges|2538|2014|2014|
|total stock-based compensation expense|$ 150300|$ 151165|$ 104188|
as of november 2 , 2019 and november 3 , 2018 , the company capitalized $ 6.8 million and $ 7.1 million , respectively , of stock-based compensation in inventory . additional paid-in-capital ( apic ) pp poolp p ( ) the company adopted asu 2016-09 during fiscal 2018 . asu 2016-09 eliminated the apic pool and requires that excess tax benefits and tax deficiencies be recorded in the income statement when awards are settled . as a result of this adoption the company recorded total excess tax benefits of $ 28.7 million and $ 26.2 million in fiscal 2019 and fiscal 2018 , respectively , from its stock-based compensation payments within income tax expense in its consolidated statements of income . for fiscal 2017 , the apic pool represented the excess tax benefits related to stock-based compensation that were available to absorb future tax deficiencies . if the amount of future tax deficiencies was greater than the available apic pool , the company recorded the excess as income tax expense in its consolidated statements of income . for fiscal 2017 , the company had a sufficient apic pool to cover any tax deficiencies recorded and as a result , these deficiencies did not affect its results of operations . analog devices , inc . notes to consolidated financial statements 2014 ( continued ) .
Question: what is the growth rate in the cost of sales in 2019? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
3625.6 | Context:year ended december 31 , 2004 compared to year ended december 31 , 2003 the historical results of operations of pca for the years ended december 31 , 2004 and 2003 are set forth below : for the year ended december 31 , ( in millions ) 2004 2003 change .
|( in millions )|for the year ended december 31 , 2004|for the year ended december 31 , 2003|change|
|net sales|$ 1890.1|$ 1735.5|$ 154.6|
|income before interest and taxes|$ 140.5|$ 96.9|$ 43.6|
|interest expense net|-29.6 ( 29.6 )|-121.8 ( 121.8 )|92.2|
|income ( loss ) before taxes|110.9|-24.9 ( 24.9 )|135.8|
|( provision ) benefit for income taxes|-42.2 ( 42.2 )|10.5|-52.7 ( 52.7 )|
|net income ( loss )|$ 68.7|$ -14.4 ( 14.4 )|$ 83.1|
net sales net sales increased by $ 154.6 million , or 8.9% ( 8.9 % ) , for the year ended december 31 , 2004 from the year ended december 31 , 2003 . net sales increased due to improved sales volumes and prices of corrugated products and containerboard compared to 2003 . total corrugated products volume sold increased 6.6% ( 6.6 % ) to 29.9 billion square feet in 2004 compared to 28.1 billion square feet in 2003 . on a comparable shipment-per-workday basis , corrugated products sales volume increased 7.0% ( 7.0 % ) in 2004 from 2003 . excluding pca 2019s acquisition of acorn in february 2004 , corrugated products volume was 5.3% ( 5.3 % ) higher in 2004 than 2003 and up 5.8% ( 5.8 % ) compared to 2003 on a shipment-per-workday basis . 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 was due to the fact that 2004 had one less workday ( 251 days ) , those days not falling on a weekend or holiday , than 2003 ( 252 days ) . containerboard sales volume to external domestic and export customers increased 6.8% ( 6.8 % ) to 475000 tons for the year ended december 31 , 2004 from 445000 tons in 2003 . income before interest and taxes income before interest and taxes increased by $ 43.6 million , or 45.1% ( 45.1 % ) , for the year ended december 31 , 2004 compared to 2003 . included in income before interest and taxes for the year ended december 31 , 2004 is income of $ 27.8 million , net of expenses , attributable to a dividend paid to pca by stv , the timberlands joint venture in which pca owns a 311 20443% ( 20443 % ) ownership interest . included in income before interest and taxes for the year ended december 31 , 2003 is a $ 3.3 million charge for fees and expenses related to the company 2019s debt refinancing which was completed in july 2003 , and a fourth quarter charge of $ 16.0 million to settle certain benefits related matters with pactiv corporation dating back to april 12 , 1999 when pca became a stand-alone company , as described below . during the fourth quarter of 2003 , pactiv notified pca that we owed pactiv additional amounts for hourly pension benefits and workers 2019 compensation liabilities dating back to april 12 , 1999 . a settlement of $ 16.0 million was negotiated between pactiv and pca in december 2003 . the full amount of the settlement was accrued in the fourth quarter of 2003 . excluding these special items , operating income decreased $ 3.4 million in 2004 compared to 2003 . the $ 3.4 million decrease in income before interest and taxes was primarily attributable to increased energy and transportation costs ( $ 19.2 million ) , higher recycled and wood fiber costs ( $ 16.7 million ) , increased salary expenses related to annual increases and new hires ( $ 5.7 million ) , and increased contractual hourly labor costs ( $ 5.6 million ) , which was partially offset by increased sales volume and sales prices ( $ 44.3 million ) . .
Question: ( in millions ) for 2004 and 2003 what were total net sales? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
43.9661 | Context:transfer agent and registrar for common stock the transfer agent and registrar for our common stock is : computershare shareowner services llc 480 washington boulevard 29th floor jersey city , new jersey 07310 telephone : ( 877 ) 363-6398 sales of unregistered securities not applicable . repurchase of equity securities the following table provides information regarding our purchases of our equity securities during the period from october 1 , 2015 to december 31 , 2015 . total number of shares ( or units ) purchased 1 average price paid per share ( or unit ) 2 total number of shares ( or units ) purchased as part of publicly announced plans or programs 3 maximum number ( or approximate dollar value ) of shares ( or units ) that may yet be purchased under the plans or programs 3 .
||total number ofshares ( or units ) purchased1|average price paidper share ( or unit ) 2|total number ofshares ( or units ) purchased as part ofpublicly announcedplans or programs3|maximum number ( or approximate dollar value ) of shares ( or units ) that may yet be purchased under the plans or programs3|
|october 1 - 31|2140511|$ 20.54|2139507|$ 227368014|
|november 1 - 30|1126378|$ 22.95|1124601|$ 201557625|
|december 1 - 31|1881992|$ 22.97|1872650|$ 158553178|
|total|5148881|$ 21.96|5136758||
1 included shares of our common stock , par value $ 0.10 per share , withheld under the terms of grants under employee stock-based compensation plans to offset tax withholding obligations that occurred upon vesting and release of restricted shares ( the 201cwithheld shares 201d ) . we repurchased 1004 withheld shares in october 2015 , 1777 withheld shares in november 2015 and 9342 withheld shares in december 2015 . 2 the average price per share for each of the months in the fiscal quarter and for the three-month period was calculated by dividing the sum of the applicable period of the aggregate value of the tax withholding obligations and the aggregate amount we paid for shares acquired under our stock repurchase program , described in note 5 to the consolidated financial statements , by the sum of the number of withheld shares and the number of shares acquired in our stock repurchase program . 3 in february 2015 , the board authorized a share repurchase program to repurchase from time to time up to $ 300.0 million , excluding fees , of our common stock ( the 201c2015 share repurchase program 201d ) . on february 12 , 2016 , we announced that our board had approved a new share repurchase program to repurchase from time to time up to $ 300.0 million , excluding fees , of our common stock . the new authorization is in addition to any amounts remaining for repurchase under the 2015 share repurchase program . there is no expiration date associated with the share repurchase programs. .
Question: what is the total cash used for the repurchase of shares during october , ( 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: |
0.2 | Context:the hartford financial services group , inc . notes to consolidated financial statements ( continued ) 5 . investments and derivative instruments ( continued ) collateral arrangements the company enters into various collateral arrangements in connection with its derivative instruments , which require both the pledging and accepting of collateral . as of december 31 , 2011 and 2010 , collateral pledged having a fair value of $ 1.1 billion and $ 790 , respectively , was included in fixed maturities , afs , in the consolidated balance sheets . from time to time , the company enters into secured borrowing arrangements as a means to increase net investment income . the company received cash collateral of $ 33 as of december 31 , 2011 and 2010 . the following table presents the classification and carrying amount of loaned securities and derivative instruments collateral pledged. .
||december 31 2011|december 31 2010|
|fixed maturities afs|$ 1086|$ 823|
|short-term investments|199|2014|
|total collateral pledged|$ 1285|$ 823|
as of december 31 , 2011 and 2010 , the company had accepted collateral with a fair value of $ 2.6 billion and $ 1.5 billion , respectively , of which $ 2.0 billion and $ 1.1 billion , respectively , was cash collateral which was invested and recorded in the consolidated balance sheets in fixed maturities and short-term investments with corresponding amounts recorded in other assets and other liabilities . the company is only permitted by contract to sell or repledge the noncash collateral in the event of a default by the counterparty . as of december 31 , 2011 and 2010 , noncash collateral accepted was held in separate custodial accounts and was not included in the company 2019s consolidated balance sheets . securities on deposit with states the company is required by law to deposit securities with government agencies in states where it conducts business . as of december 31 , 2011 and 2010 , the fair value of securities on deposit was approximately $ 1.6 billion and $ 1.4 billion , respectively. .
Question: what is the change in fair value of securities on deposits from 2010 to 2011 , ( in billions ) ? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-0.14359 | Context:future minimum operating lease payments for leases with remaining terms greater than one year for each of the years in the five years ending december 31 , 2015 , and thereafter in the aggregate , are as follows ( in millions ) : .
|2011|$ 65.1|
|2012|47.6|
|2013|35.7|
|2014|27.8|
|2015|24.3|
|thereafter|78.1|
|total|$ 278.6|
in addition , the company has operating lease commitments relating to office equipment and computer hardware with annual lease payments of approximately $ 16.3 million per year which renew on a short-term basis . rent expense incurred under all operating leases during the years ended december 31 , 2010 , 2009 and 2008 was $ 116.1 million , $ 100.2 million and $ 117.0 million , respectively . included in discontinued operations in the consolidated statements of earnings was rent expense of $ 2.0 million , $ 1.8 million and $ 17.0 million for the years ended december 31 , 2010 , 2009 and 2008 , respectively . data processing and maintenance services agreements . the company has agreements with various vendors , which expire between 2011 and 2017 , for portions of its computer data processing operations and related functions . the company 2019s estimated aggregate contractual obligation remaining under these agreements was approximately $ 554.3 million as of december 31 , 2010 . however , this amount could be more or less depending on various factors such as the inflation rate , foreign exchange rates , the introduction of significant new technologies , or changes in the company 2019s data processing needs . ( 16 ) employee benefit plans stock purchase plan fis employees participate in an employee stock purchase plan ( espp ) . eligible employees may voluntarily purchase , at current market prices , shares of fis 2019 common stock through payroll deductions . pursuant to the espp , employees may contribute an amount between 3% ( 3 % ) and 15% ( 15 % ) of their base salary and certain commissions . shares purchased are allocated to employees based upon their contributions . the company contributes varying matching amounts as specified in the espp . the company recorded an expense of $ 14.3 million , $ 12.4 million and $ 14.3 million , respectively , for the years ended december 31 , 2010 , 2009 and 2008 , relating to the participation of fis employees in the espp . included in discontinued operations in the consolidated statements of earnings was expense of $ 0.1 million and $ 3.0 million for the years ended december 31 , 2009 and 2008 , respectively . 401 ( k ) profit sharing plan the company 2019s employees are covered by a qualified 401 ( k ) plan . eligible employees may contribute up to 40% ( 40 % ) of their pretax annual compensation , up to the amount allowed pursuant to the internal revenue code . the company generally matches 50% ( 50 % ) of each dollar of employee contribution up to 6% ( 6 % ) of the employee 2019s total eligible compensation . the company recorded expense of $ 23.1 million , $ 16.6 million and $ 18.5 million , respectively , for the years ended december 31 , 2010 , 2009 and 2008 , relating to the participation of fis employees in the 401 ( k ) plan . included in discontinued operations in the consolidated statements of earnings was expense of $ 0.1 million and $ 3.9 million for the years ended december 31 , 2009 and 2008 , respectively . fidelity national information services , inc . and subsidiaries notes to consolidated financial statements 2014 ( continued ) %%transmsg*** transmitting job : g26369 pcn : 083000000 ***%%pcmsg|83 |00006|yes|no|03/28/2011 17:32|0|0|page is valid , no graphics -- color : n| .
Question: what is the increase in rent expense from 2008 to 2009? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-0.11467 | 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: what is the growth rate in the segment of display 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: |
943576.0 | Context:based on the foregoing evaluation of management performance , the personnel committee approved the following annual incentive plan payouts to each named executive officer for 2017 : named executive officer base salary target as percentage of base salary payout as percentage of target 2017 annual incentive award .
|named executive officer|base salary|target as percentage of base salary|payout as percentage of target|2017 annualincentive award|
|a . christopher bakken iii|$ 620125|70% ( 70 % )|129% ( 129 % )|$ 559973|
|marcus v . brown|$ 630000|70% ( 70 % )|129% ( 129 % )|$ 568890|
|leo p . denault|$ 1230000|135% ( 135 % )|129% ( 129 % )|$ 2142045|
|haley r . fisackerly|$ 355300|40% ( 40 % )|119% ( 119 % )|$ 169123|
|andrew s . marsh|$ 600000|70% ( 70 % )|129% ( 129 % )|$ 541800|
|phillip r . may jr .|$ 366150|60% ( 60 % )|137% ( 137 % )|$ 300000|
|sallie t . rainer|$ 328275|40% ( 40 % )|119% ( 119 % )|$ 156259|
|charles l . rice jr .|$ 286424|40% ( 40 % )|79% ( 79 % )|$ 91000|
|richard c . riley|$ 344200|40% ( 40 % )|204% ( 204 % )|$ 280661|
|roderick k . west|$ 675598|70% ( 70 % )|129% ( 129 % )|$ 610065|
nuclear retention plan mr . a0bakken participates in the nuclear retention plan , a retention plan for officers and other leaders with expertise in the nuclear industry . the personnel committee authorized this plan to attract and retain key management and employee talent in the nuclear power field , a field that requires unique technical and other expertise that is in great demand in the utility industry . the plan provides for bonuses to be paid annually over a three-year employment period with the bonus opportunity dependent on the participant 2019s management level and continued employment . each annual payment is equal to an amount ranging from 15% ( 15 % ) to 30% ( 30 % ) of the employee 2019s base salary as of their date of enrollment in the plan . mr . a0bakken 2019s participation in the plan commenced in may 2016 and in accordance with the terms and conditions of the plan , in may 2017 , 2018 , and 2019 , subject to his continued employment , mr . a0bakken will receive a cash bonus equal to 30% ( 30 % ) of his base salary as of may a01 , 2016 . this plan does not allow for accelerated or prorated payout upon termination of any kind . the three-year coverage period and percentage of base salary payable under the plan are consistent with the terms of participation of other senior nuclear officers who participate in this plan . in may 2017 , mr . bakken received a cash bonus of $ 181500 which equaled 30% ( 30 % ) of his may a01 , 2016 , base salary of $ 605000 . long-term incentive compensation entergy corporation 2019s goal for its long-term incentive compensation is to focus the executive officers on building shareholder value and to increase the executive officers 2019 ownership of entergy corporation 2019s common stock in order to more closely align their interest with those of entergy corporation 2019s shareholders . in its long-term incentive compensation programs , entergy corporation uses a mix of performance units , restricted stock , and stock options . performance units are used to deliver more than a majority of the total target long-term incentive awards . for periods through the end of 2017 , performance units reward the named executive officers on the basis of total shareholder return , which is a measure of stock price appreciation and dividend payments , in relation to the companies in the philadelphia utility index . beginning with the 2018-2020 performance period , a cumulative utility earnings metric has been added to the long-term performance unit program to supplement the relative total shareholder return measure that historically has been used in this program with each measure equally weighted . restricted stock ties the executive officers 2019 long-term financial interest to the long-term financial interests of entergy corporation 2019s shareholders . stock options provide a direct incentive to increase the value of entergy corporation 2019s common stock . in general , entergy corporation seeks to allocate the total value of long-term incentive compensation 60% ( 60 % ) to performance units and 40% ( 40 % ) to a combination of stock options and restricted stock , equally divided in value , based on the value the compensation model seeks to deliver . awards for individual named executive officers may vary from this target as a result of individual performance , promotions , and internal pay equity . the performance units for the 2015-2017 performance period were awarded under the 2011 equity ownership plan and long-term cash incentive plan ( the 201c2011 equity ownership plan 201d ) and the performance units for the .
Question: what is the difference between the highest and the lowest base salary? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
10.0 | Context:recourse and repurchase obligations as discussed in note 3 loan sale and servicing activities and variable interest entities , pnc has sold commercial mortgage , residential mortgage and home equity loans directly or indirectly through securitization and loan sale transactions in which we have continuing involvement . one form of continuing involvement includes certain recourse and loan repurchase obligations associated with the transferred assets . commercial mortgage loan recourse obligations we originate , close and service certain multi-family commercial mortgage loans which are sold to fnma under fnma 2019s delegated underwriting and servicing ( 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 , 2013 and december 31 , 2012 , the unpaid principal balance outstanding of loans sold as a participant in these programs was $ 11.7 billion and $ 12.8 billion , respectively . the potential maximum exposure under the loss share arrangements was $ 3.6 billion at december 31 , 2013 and $ 3.9 billion at december 31 , 2012 . we maintain a reserve for estimated losses based upon our exposure . the reserve for losses under these programs totaled $ 33 million and $ 43 million as of december 31 , 2013 and december 31 , 2012 , 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 . table 152 : analysis of commercial mortgage recourse obligations .
|in millions|2013|2012|
|january 1|$ 43|$ 47|
|reserve adjustments net|-9 ( 9 )|4|
|losses 2013 loan repurchases and settlements|-1 ( 1 )|-8 ( 8 )|
|december 31|$ 33|$ 43|
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 . for additional information on loan sales see note 3 loan sale and servicing activities and variable interest entities . 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 . in the fourth quarter of 2013 , pnc reached agreements with both fnma and fhlmc to resolve their repurchase claims with respect to loans sold between 2000 and 2008 . pnc paid a total of $ 191 million related to these settlements . pnc 2019s repurchase obligations also include certain brokered home equity loans/lines of credit that were sold to a limited number of private investors in the financial services industry by national city prior to our acquisition of national city . 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 loans sold in these transactions . repurchase activity associated with brokered home equity loans/lines of credit is reported in the non-strategic assets portfolio segment . indemnification and repurchase liabilities are initially recognized when loans are sold to investors and are subsequently evaluated by management . initial recognition and subsequent adjustments to the indemnification and repurchase liability for the sold residential mortgage portfolio are recognized in residential mortgage revenue on the consolidated income statement . since pnc is no longer engaged in the brokered home equity lending business , only subsequent adjustments are recognized to the home equity loans/lines indemnification and repurchase liability . these adjustments are recognized in other noninterest income on the consolidated income statement . 214 the pnc financial services group , inc . 2013 form 10-k .
Question: in millions for 2013 , what was the net change in 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: |
0.47582 | Context:cash provided by operating activities cash provided by operations is dependent primarily upon the payment terms of our license agreements . to be classified as upfront revenue , we require that 75% ( 75 % ) of a term or perpetual license fee be paid within the first year . conversely , payment terms for tsls are generally extended and the license fee is typically paid either quarterly or annually in even increments over the term of the license . accordingly , we generally receive cash from upfront license revenue much sooner than from time-based licenses revenue . fiscal 2008 to fiscal 2009 . cash from operating activities decreased primarily as a result of a decrease in deferred revenue due to the timing of billings and cash payments from certain customers , increased payments to vendors compared to fiscal 2008 and a tax prepayment for an irs settlement . see note 9 of notes to consolidated financial statements . fiscal 2007 to fiscal 2008 . cash from operating activities decreased primarily due to the timing of billings and cash payments from customers compared to fiscal 2007 , delivering lower cash inflows during fiscal 2008 and also as a result of a litigation settlement of $ 12.5 million received from magma during fiscal 2007 . cash used in investing activities fiscal 2008 to fiscal 2009 . the decrease in cash used primarily relates to a decrease in our purchases of marketable securities and cash paid for acquisitions as compared to fiscal 2008 , offset by the timing of maturities of marketable securities . fiscal 2007 to fiscal 2008 . the decrease in cash used primarily relates to the sale of marketable securities for our acquisition of synplicity , and as a result of lower capital expenditures during fiscal 2008 as compared to fiscal 2007 . cash provided by ( used in ) financing activities fiscal 2008 to fiscal 2009 . the increase in cash provided primarily relates to the absence of common stock repurchases in fiscal 2009 offset by a decrease in the number of options exercised by employees compared to fiscal 2008 . fiscal 2007 to fiscal 2008 . the increase in cash used primarily relates to more common stock repurchases under our stock repurchase program and options exercised by employees compared to fiscal 2007 . see note 7 of notes to consolidated financial statements for details of our stock repurchase program . we hold our cash , cash equivalents and short-term investments in the united states and in foreign accounts , primarily in ireland , bermuda , and japan . as of october 31 , 2009 , we held an aggregate of $ 612.4 million in cash , cash equivalents and short-term investments in the united states and an aggregate of $ 555.9 million in foreign accounts . funds in foreign accounts are generated from revenue outside north america . at present , such foreign funds are considered to be indefinitely reinvested in foreign countries to the extent of indefinitely reinvested foreign earnings as described in note 9 of notes to consolidated financial statements . we expect cash provided by operating activities to fluctuate in future periods as a result of a number of factors , including the timing of our billings and collections , our operating results , the timing and amount of tax and other liability payments and cash used in any future acquisitions . accounts receivable , net october 31 .
|2009|2008|$ change|% ( % ) change|
|( dollars in millions )|( dollars in millions )|||
|$ 127.0|$ 147.4|$ -20.4 ( 20.4 )|( 14 ) % ( % )|
.
Question: what percentage of cash , cash equivalents and short-term investments was held in foreign accounts as of october 31 , 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: |
27.73658 | Context:celanese purchases of its equity securities information regarding repurchases of our common stock during the three months ended december 31 , 2014 is as follows : period number of shares purchased ( 1 ) average price paid per share total number of shares purchased as part of publicly announced program approximate dollar value of shares remaining that may be purchased under the program ( 2 ) .
|period|totalnumberof sharespurchased ( 1 )|averageprice paidper share|total numberof sharespurchased aspart of publiclyannounced program|approximatedollarvalue of sharesremaining thatmay bepurchased underthe program ( 2 )|
|october 1 - 31 2014|192580|$ 58.02|164800|$ 490000000|
|november 1 - 30 2014|468128|$ 59.25|468128|$ 463000000|
|december 1 - 31 2014|199796|$ 60.78|190259|$ 451000000|
|total|860504||823187||
___________________________ ( 1 ) includes 27780 and 9537 for october and december 2014 , respectively , related to shares withheld from employees to cover their statutory minimum withholding requirements for personal income taxes related to the vesting of restricted stock units . ( 2 ) our board of directors has authorized the aggregate repurchase of $ 1.4 billion of our common stock since february 2008 . see note 17 - stockholders' equity in the accompanying consolidated financial statements for further information . performance graph the following performance graph and related information shall not be deemed "soliciting material" or to be "filed" with the securities and exchange commission , nor shall such information be incorporated by reference into any future filing under the securities act of 1933 or securities exchange act of 1934 , each as amended , except to the extent that we specifically incorporate it by reference into such filing . comparison of cumulative total return .
Question: what is the total value paid for purchased shares during november 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: |
0.12969 | Context:direct the activities of the vies and , therefore , do not control the ongoing activities that have a significant impact on the economic performance of the vies . additionally , we do not have the obligation to absorb losses of the vies or the right to receive benefits of the vies that could potentially be significant to the we are not considered to be the primary beneficiary and do not consolidate these vies because our actions and decisions do not have the most significant effect on the vie 2019s performance and our fixed-price purchase options are not considered to be potentially significant to the vies . the future minimum lease payments associated with the vie leases totaled $ 3.0 billion as of december 31 , 2014 . 17 . leases we lease certain locomotives , freight cars , and other property . the consolidated statements of financial position as of december 31 , 2014 and 2013 included $ 2454 million , net of $ 1210 million of accumulated depreciation , and $ 2486 million , net of $ 1092 million of accumulated depreciation , respectively , for properties held under capital leases . a charge to income resulting from the depreciation for assets held under capital leases is included within depreciation expense in our consolidated statements of income . future minimum lease payments for operating and capital leases with initial or remaining non-cancelable lease terms in excess of one year as of december 31 , 2014 , were as follows : millions operating leases capital leases .
|millions|operatingleases|capitalleases|
|2015|$ 508|$ 253|
|2016|484|249|
|2017|429|246|
|2018|356|224|
|2019|323|210|
|later years|1625|745|
|total minimum leasepayments|$ 3725|$ 1927|
|amount representing interest|n/a|-407 ( 407 )|
|present value of minimum leasepayments|n/a|$ 1520|
approximately 95% ( 95 % ) of capital lease payments relate to locomotives . rent expense for operating leases with terms exceeding one month was $ 593 million in 2014 , $ 618 million in 2013 , and $ 631 million in 2012 . when cash rental payments are not made on a straight-line basis , we recognize variable rental expense on a straight-line basis over the lease term . contingent rentals and sub-rentals are not significant . 18 . commitments and contingencies asserted and unasserted claims 2013 various claims and lawsuits are pending against us and certain of our subsidiaries . we cannot fully determine the effect of all asserted and unasserted claims on our consolidated results of operations , financial condition , or liquidity ; however , to the extent possible , where asserted and unasserted claims are considered probable and where such claims can be reasonably estimated , we have recorded a liability . we do not expect that any known lawsuits , claims , environmental costs , commitments , contingent liabilities , or guarantees will have a material adverse effect on our consolidated results of operations , financial condition , or liquidity after taking into account liabilities and insurance recoveries previously recorded for these matters . personal injury 2013 the cost of personal injuries to employees and others related to our activities is charged to expense based on estimates of the ultimate cost and number of incidents each year . we use an actuarial analysis to measure the expense and liability , including unasserted claims . the federal employers 2019 liability act ( fela ) governs compensation for work-related accidents . under fela , damages are assessed based on a finding of fault through litigation or out-of-court settlements . we offer a comprehensive variety of services and rehabilitation programs for employees who are injured at work . our personal injury liability is not discounted to present value due to the uncertainty surrounding the timing of future payments . approximately 93% ( 93 % ) of the recorded liability is related to asserted claims and approximately 7% ( 7 % ) is related to unasserted claims at december 31 , 2014 . because of the uncertainty .
Question: in december 2014 , what was the percentage of the total future minimum lease payments that was due in 2016 | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.34512 | Context:five-year performance comparison 2013 the following graph provides an indicator of cumulative total shareholder returns for the corporation as compared to the peer group index ( described above ) , the dj trans , and the s&p 500 . the graph assumes that $ 100 was invested in the common stock of union pacific corporation and each index on december 31 , 2007 and that all dividends were reinvested . purchases of equity securities 2013 during 2012 , we repurchased 13804709 shares of our common stock at an average price of $ 115.33 . the following table presents common stock repurchases during each month for the fourth quarter of 2012 : period total number of shares purchased [a] average price paid per share total number of shares purchased as part of a publicly announced plan or program [b] maximum number of shares that may yet be purchased under the plan or program [b] .
|period|total number ofsharespurchased [a]|averageprice paidper share|total number of sharespurchased as part of apublicly announced planor program [b]|maximum number ofshares that may yetbe purchased under the planor program [b]|
|oct . 1 through oct . 31|1068414|121.70|1028300|16041399|
|nov . 1 through nov . 30|659631|120.84|655000|15386399|
|dec . 1 through dec . 31|411683|124.58|350450|15035949|
|total|2139728|$ 121.99|2033750|n/a|
[a] total number of shares purchased during the quarter includes approximately 105978 shares delivered or attested to upc by employees to pay stock option exercise prices , satisfy excess tax withholding obligations for stock option exercises or vesting of retention units , and pay withholding obligations for vesting of retention shares . [b] on april 1 , 2011 , our board of directors authorized the repurchase of up to 40 million shares of our common stock by march 31 , 2014 . these repurchases may be made on the open market or through other transactions . our management has sole discretion with respect to determining the timing and amount of these transactions. .
Question: what portion of the 2011 plan repurchases were repurchased 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: |
3311448848.96 | Context:five-year performance comparison 2013 the following graph provides an indicator of cumulative total shareholder returns for the corporation as compared to the peer group index ( described above ) , the dj trans , and the s&p 500 . the graph assumes that $ 100 was invested in the common stock of union pacific corporation and each index on december 31 , 2009 and that all dividends were reinvested . the information below is historical in nature and is not necessarily indicative of future performance . purchases of equity securities 2013 during 2014 , we repurchased 33035204 shares of our common stock at an average price of $ 100.24 . the following table presents common stock repurchases during each month for the fourth quarter of 2014 : period total number of shares purchased [a] average price paid per share total number of shares purchased as part of a publicly announced plan or program [b] maximum number of shares that may yet be purchased under the plan or program [b] .
|period|total number ofsharespurchased[a]|averageprice paidpershare|total number of sharespurchased as part of apublicly announcedplan or program [b]|maximum number ofshares that may yetbe purchased under the planor program [b]|
|oct . 1 through oct . 31|3087549|$ 107.59|3075000|92618000|
|nov . 1 through nov . 30|1877330|119.84|1875000|90743000|
|dec . 1 through dec . 31|2787108|116.54|2786400|87956600|
|total|7751987|$ 113.77|7736400|n/a|
[a] total number of shares purchased during the quarter includes approximately 15587 shares delivered or attested to upc by employees to pay stock option exercise prices , satisfy excess tax withholding obligations for stock option exercises or vesting of retention units , and pay withholding obligations for vesting of retention shares . [b] effective january 1 , 2014 , our board of directors authorized the repurchase of up to 120 million shares of our common stock by december 31 , 2017 . these repurchases may be made on the open market or through other transactions . our management has sole discretion with respect to determining the timing and amount of these transactions. .
Question: what wa the total spent on share repurchases during 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: |
0.37699 | Context:table of contents notes to consolidated financial statements of american airlines group inc . secured financings are collateralized by assets , primarily aircraft , engines , simulators , rotable aircraft parts , airport leasehold rights , route authorities and airport slots . at december 31 , 2015 , the company was operating 35 aircraft under capital leases . leases can generally be renewed at rates based on fair market value at the end of the lease term for a number of additional years . at december 31 , 2015 , the maturities of long-term debt and capital lease obligations are as follows ( in millions ) : .
|2016|$ 2266|
|2017|1598|
|2018|2134|
|2019|3378|
|2020|3587|
|2021 and thereafter|7844|
|total|$ 20807|
( a ) 2013 credit facilities on june 27 , 2013 , american and aag entered into a credit and guaranty agreement ( as amended , restated , amended and restated or otherwise modified , the 2013 credit agreement ) with deutsche bank ag new york branch , as administrative agent , and certain lenders that originally provided for a $ 1.9 billion term loan facility scheduled to mature on june 27 , 2019 ( the 2013 term loan facility ) and a $ 1.0 billion revolving credit facility scheduled to mature on june 27 , 2018 ( the 2013 revolving facility ) . the maturity of the term loan facility was subsequently extended to june 2020 and the revolving credit facility commitments were subsequently increased to $ 1.4 billion with an extended maturity date of october 10 , 2020 , all of which is further described below . on may 21 , 2015 , american amended and restated the 2013 credit agreement pursuant to which it refinanced the 2013 term loan facility ( the $ 1.9 billion 2015 term loan facility and , together with the 2013 revolving facility , the 2013 credit facilities ) to extend the maturity date to june 2020 and reduce the libor margin from 3.00% ( 3.00 % ) to 2.75% ( 2.75 % ) . in addition , american entered into certain amendments to reflect the ability for american to make future modifications to the collateral pledged , subject to certain restrictions . the $ 1.9 billion 2015 term loan facility is repayable in annual installments , with the first installment in an amount equal to 1.25% ( 1.25 % ) of the principal amount commencing on june 27 , 2016 and installments thereafter , in an amount equal to 1.0% ( 1.0 % ) of the principal amount , with any unpaid balance due on the maturity date . as of december 31 , 2015 , $ 1.9 billion of principal was outstanding under the $ 1.9 billion 2015 term loan facility . voluntary prepayments may be made by american at any time . on october 10 , 2014 , american and aag amended the 2013 credit agreement to extend the maturity date of the 2013 revolving facility to october 10 , 2019 and increased the commitments thereunder to an aggregate principal amount of $ 1.4 billion while reducing the letter of credit commitments thereunder to $ 300 million . on october 26 , 2015 , american , aag , us airways group and us airways amended the 2013 credit agreement to extend the maturity date of the 2013 revolving facility to october 10 , 2020 . the 2013 revolving facility provides that american may from time to time borrow , repay and reborrow loans thereunder and have letters of credit issued thereunder . as of december 31 , 2015 , there were no borrowings or letters of credit outstanding under the 2013 revolving facility . the 2013 credit facilities bear interest at an index rate plus an applicable index margin or , at american 2019s option , libor ( subject to a floor of 0.75% ( 0.75 % ) , with respect to the $ 1.9 billion 2015 term loan facility ) plus a libor margin of 3.00% ( 3.00 % ) with respect to the 2013 revolving facility and 2.75% ( 2.75 % ) with respect to the $ 1.9 billion 2015 term loan facility ; provided that american 2019s corporate credit rating is ba3 or higher from moody 2019s and bb- or higher from s&p , the applicable libor margin would be 2.50% ( 2.50 % ) for the $ 1.9 billion 2015 term loan .
Question: what percentage of total maturities of long-term debt and capital lease obligations are payable after 2020? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.0076 | Context:the company granted 1020 performance shares . the vesting of these shares is contingent on meeting stated goals over a performance period . beginning with restricted stock grants in september 2010 , dividends are accrued on restricted class a common stock and restricted stock units and are paid once the restricted stock vests . the following table summarizes restricted stock and performance shares activity for 2010 : number of shares weighted average grant date fair value .
||number of shares|weighted average grant date fair value|
|outstanding at december 31 2009|116677|$ 280|
|granted|134245|275|
|vested|-34630 ( 34630 )|257|
|cancelled|-19830 ( 19830 )|260|
|outstanding at december 31 2010|196462|283|
the total fair value of restricted stock that vested during the years ended december 31 , 2010 , 2009 and 2008 , was $ 10.3 million , $ 6.2 million and $ 2.5 million , respectively . eligible employees may acquire shares of cme group 2019s class a common stock using after-tax payroll deductions made during consecutive offering periods of approximately six months in duration . shares are purchased at the end of each offering period at a price of 90% ( 90 % ) of the closing price of the class a common stock as reported on the nasdaq . compensation expense is recognized on the dates of purchase for the discount from the closing price . in 2010 , 2009 and 2008 , a total of 4371 , 4402 and 5600 shares , respectively , of class a common stock were issued to participating employees . these shares are subject to a six-month holding period . annual expense of $ 0.1 million for the purchase discount was recognized in 2010 , 2009 and 2008 , respectively . non-executive directors receive an annual award of class a common stock with a value equal to $ 75000 . non-executive directors may also elect to receive some or all of the cash portion of their annual stipend , up to $ 25000 , in shares of stock based on the closing price at the date of distribution . as a result , 7470 , 11674 and 5509 shares of class a common stock were issued to non-executive directors during 2010 , 2009 and 2008 , respectively . these shares are not subject to any vesting restrictions . expense of $ 2.4 million , $ 2.5 million and $ 2.4 million related to these stock-based payments was recognized for the years ended december 31 , 2010 , 2009 and 2008 , respectively. .
Question: what is the performance shares granted as a percent of the total number of granted shares in 2010? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.36931 | Context:sources of blackrock 2019s operating cash primarily include investment advisory , administration fees and securities lending revenue , performance fees , revenue from technology and risk management services , advisory and other revenue and distribution fees . blackrock uses its cash to pay all operating expense , interest and principal on borrowings , income taxes , dividends on blackrock 2019s capital stock , repurchases of the company 2019s stock , capital expenditures and purchases of co-investments and seed investments . for details of the company 2019s gaap cash flows from operating , investing and financing activities , see the consolidated statements of cash flows contained in part ii , item 8 of this filing . cash flows from operating activities , excluding the impact of consolidated sponsored investment funds , primarily include the receipt of investment advisory and administration fees , securities lending revenue and performance fees offset by the payment of operating expenses incurred in the normal course of business , including year-end incentive compensation accrued for in the prior year . cash outflows from investing activities , excluding the impact of consolidated sponsored investment funds , for 2017 were $ 517 million and primarily reflected $ 497 million of investment purchases , $ 155 million of purchases of property and equipment , $ 73 million related to the first reserve transaction and $ 29 million related to the cachematrix transaction , partially offset by $ 205 million of net proceeds from sales and maturities of certain investments . cash outflows from financing activities , excluding the impact of consolidated sponsored investment funds , for 2017 were $ 3094 million , primarily resulting from $ 1.4 billion of share repurchases , including $ 1.1 billion in open market- transactions and $ 321 million of employee tax withholdings related to employee stock transactions , $ 1.7 billion of cash dividend payments and $ 700 million of repayments of long- term borrowings , partially offset by $ 697 million of proceeds from issuance of long-term borrowings . the company manages its financial condition and funding to maintain appropriate liquidity for the business . liquidity resources at december 31 , 2017 and 2016 were as follows : ( in millions ) december 31 , december 31 , cash and cash equivalents ( 1 ) $ 6894 $ 6091 cash and cash equivalents held by consolidated vres ( 2 ) ( 63 ) ( 53 ) .
|( in millions )|december 31 2017|december 31 2016|
|cash and cash equivalents ( 1 )|$ 6894|$ 6091|
|cash and cash equivalents held by consolidated vres ( 2 )|-63 ( 63 )|-53 ( 53 )|
|subtotal|6831|6038|
|credit facility 2014 undrawn|4000|4000|
|total liquidity resources ( 3 )|$ 10831|$ 10038|
total liquidity resources ( 3 ) $ 10831 $ 10038 ( 1 ) the percentage of cash and cash equivalents held by the company 2019s u.s . subsidiaries was approximately 40% ( 40 % ) and 50% ( 50 % ) at december 31 , 2017 and 2016 , respectively . see net capital requirements herein for more information on net capital requirements in certain regulated subsidiaries . ( 2 ) the company cannot readily access such cash to use in its operating activities . ( 3 ) amounts do not reflect a reduction for year-end incentive compensation accruals of approximately $ 1.5 billion and $ 1.3 billion for 2017 and 2016 , respectively , which are paid in the first quarter of the following year . total liquidity resources increased $ 793 million during 2017 , primarily reflecting cash flows from operating activities , partially offset by cash payments of 2016 year-end incentive awards , share repurchases of $ 1.4 billion and cash dividend payments of $ 1.7 billion . a significant portion of the company 2019s $ 3154 million of total investments , as adjusted , is illiquid in nature and , as such , cannot be readily convertible to cash . share repurchases . the company repurchased 2.6 million common shares in open market transactions under the share repurchase program for approximately $ 1.1 billion during 2017 . at december 31 , 2017 , there were 6.4 million shares still authorized to be repurchased . net capital requirements . the company is required to maintain net capital in certain regulated subsidiaries within a number of jurisdictions , which is partially maintained by retaining cash and cash equivalent investments in those subsidiaries or jurisdictions . as a result , such subsidiaries of the company may be restricted in their ability to transfer cash between different jurisdictions and to their parents . additionally , transfers of cash between international jurisdictions may have adverse tax consequences that could discourage such transfers . blackrock institutional trust company , n.a . ( 201cbtc 201d ) is chartered as a national bank that does not accept client deposits and whose powers are limited to trust and other fiduciary activities . btc provides investment management services , including investment advisory and securities lending agency services , to institutional clients . btc is subject to regulatory capital and liquid asset requirements administered by the office of the comptroller of the currency . at december 31 , 2017 and 2016 , the company was required to maintain approximately $ 1.8 billion and $ 1.4 billion , respectively , in net capital in certain regulated subsidiaries , including btc , entities regulated by the financial conduct authority and prudential regulation authority in the united kingdom , and the company 2019s broker-dealers . the company was in compliance with all applicable regulatory net capital requirements . undistributed earnings of foreign subsidiaries . as a result of the 2017 tax act and the one-time mandatory deemed repatriation tax on untaxed accumulated foreign earnings , a provisional amount of u.s . income taxes was provided on the undistributed foreign earnings . the financial statement basis in excess of tax basis of its foreign subsidiaries remains indefinitely reinvested in foreign operations . the company will continue to evaluate its capital management plans throughout 2018 . short-term borrowings 2017 revolving credit facility . the company 2019s credit facility has an aggregate commitment amount of $ 4.0 billion and was amended in april 2017 to extend the maturity date to april 2022 ( the 201c2017 credit facility 201d ) . the 2017 credit facility permits the company to request up to an additional $ 1.0 billion of borrowing capacity , subject to lender credit approval , increasing the overall size of the 2017 credit facility to an aggregate principal amount not to exceed $ 5.0 billion . interest on borrowings outstanding accrues at a rate based on the applicable london interbank offered rate plus a spread . the 2017 credit facility requires the company .
Question: what percent of 2017 liquidity comes from credit? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.48327 | Context:the goldman sachs group , inc . and subsidiaries management 2019s discussion and analysis equities . includes client execution activities related to making markets in equity products and commissions and fees from executing and clearing institutional client transactions on major stock , options and futures exchanges worldwide , as well as otc transactions . equities also includes our securities services business , which provides financing , securities lending and other prime brokerage services to institutional clients , including hedge funds , mutual funds , pension funds and foundations , and generates revenues primarily in the form of interest rate spreads or fees . the table below presents the operating results of our institutional client services segment. .
|$ in millions|year ended december 2015|year ended december 2014|year ended december 2013|
|fixed income currency and commodities client execution|$ 7322|$ 8461|$ 8651|
|equities client execution1|3028|2079|2594|
|commissions and fees|3156|3153|3103|
|securities services|1645|1504|1373|
|total equities|7829|6736|7070|
|total net revenues|15151|15197|15721|
|operating expenses|13938|10880|11792|
|pre-tax earnings|$ 1213|$ 4317|$ 3929|
1 . net revenues related to the americas reinsurance business were $ 317 million for 2013 . in april 2013 , we completed the sale of a majority stake in our americas reinsurance business and no longer consolidate this business . 2015 versus 2014 . net revenues in institutional client services were $ 15.15 billion for 2015 , essentially unchanged compared with 2014 . net revenues in fixed income , currency and commodities client execution were $ 7.32 billion for 2015 , 13% ( 13 % ) lower than 2014 . excluding a gain of $ 168 million in 2014 related to the extinguishment of certain of our junior subordinated debt , net revenues in fixed income , currency and commodities client execution were 12% ( 12 % ) lower than 2014 , reflecting significantly lower net revenues in mortgages , credit products and commodities . the decreases in mortgages and credit products reflected challenging market-making conditions and generally low levels of activity during 2015 . the decline in commodities primarily reflected less favorable market-making conditions compared with 2014 , which included a strong first quarter of 2014 . these decreases were partially offset by significantly higher net revenues in interest rate products and currencies , reflecting higher volatility levels which contributed to higher client activity levels , particularly during the first quarter of 2015 . net revenues in equities were $ 7.83 billion for 2015 , 16% ( 16 % ) higher than 2014 . excluding a gain of $ 121 million ( $ 30 million and $ 91 million included in equities client execution and securities services , respectively ) in 2014 related to the extinguishment of certain of our junior subordinated debt , net revenues in equities were 18% ( 18 % ) higher than 2014 , primarily due to significantly higher net revenues in equities client execution across the major regions , reflecting significantly higher results in both derivatives and cash products , and higher net revenues in securities services , reflecting the impact of higher average customer balances and improved securities lending spreads . commissions and fees were essentially unchanged compared with 2014 . the firm elects the fair value option for certain unsecured borrowings . the fair value net gain attributable to the impact of changes in our credit spreads on these borrowings was $ 255 million ( $ 214 million and $ 41 million related to fixed income , currency and commodities client execution and equities client execution , respectively ) for 2015 , compared with a net gain of $ 144 million ( $ 108 million and $ 36 million related to fixed income , currency and commodities client execution and equities client execution , respectively ) for 2014 . during 2015 , the operating environment for institutional client services was positively impacted by diverging central bank monetary policies in the united states and the euro area in the first quarter , as increased volatility levels contributed to strong client activity levels in currencies , interest rate products and equity products , and market- making conditions improved . however , during the remainder of the year , concerns about global growth and uncertainty about the u.s . federal reserve 2019s interest rate policy , along with lower global equity prices , widening high-yield credit spreads and declining commodity prices , contributed to lower levels of client activity , particularly in mortgages and credit , and more difficult market-making conditions . if macroeconomic concerns continue over the long term and activity levels decline , net revenues in institutional client services would likely be negatively impacted . operating expenses were $ 13.94 billion for 2015 , 28% ( 28 % ) higher than 2014 , due to significantly higher net provisions for mortgage-related litigation and regulatory matters , partially offset by decreased compensation and benefits expenses . pre-tax earnings were $ 1.21 billion in 2015 , 72% ( 72 % ) lower than 2014 . 62 goldman sachs 2015 form 10-k .
Question: what percentage of total net revenues in the institutional client services segment was due to fixed income currency and commodities client execution 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: |
-0.20091 | Context:table of contents capital deployment program will be subject to market and economic conditions , applicable legal requirements and other relevant factors . our capital deployment program does not obligate us to continue a dividend for any fixed period , and payment of dividends may be suspended at any time at our discretion . stock performance graph the following stock performance graph and related information shall not be deemed 201csoliciting material 201d or 201cfiled 201d with the securities and exchange commission , nor shall such information be incorporated by reference into any future filings under the securities act of 1933 or the exchange act , each as amended , except to the extent that we specifically incorporate it by reference into such filing . the following stock performance graph compares our cumulative total stockholder return on an annual basis on our common stock with the cumulative total return on the standard and poor 2019s 500 stock index and the amex airline index from december 9 , 2013 ( the first trading day of aag common stock ) through december 31 , 2015 . the comparison assumes $ 100 was invested on december 9 , 2013 in aag common stock and in each of the foregoing indices and assumes reinvestment of dividends . the stock performance shown on the graph below represents historical stock performance and is not necessarily indicative of future stock price performance. .
||12/9/2013|12/31/2013|12/31/2014|12/31/2015|
|american airlines group inc .|$ 100|$ 103|$ 219|$ 175|
|amex airline index|100|102|152|127|
|s&p 500|100|102|114|113|
purchases of equity securities by the issuer and affiliated purchasers since july 2014 , our board of directors has approved several share repurchase programs aggregating $ 7.0 billion of authority of which , as of december 31 , 2015 , $ 2.4 billion remained unused under repurchase programs .
Question: what was the rate of growth or decrease from 2014 to 2015 on the american airlines group 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: |
-84.0 | Context:page 29 of 98 in connection with the internal revenue service 2019s ( irs ) examination of ball 2019s consolidated income tax returns for the tax years 2000 through 2004 , the irs has proposed to disallow ball 2019s deductions of interest expense incurred on loans under a company-owned life insurance plan that has been in place for more than 20 years . ball believes that its interest deductions will be sustained as filed and , therefore , no provision for loss has been recorded . the total potential liability for the audit years 1999 through 2004 , unaudited year 2005 and an estimate of the impact on 2006 is approximately $ 31 million , excluding related interest . the irs has withdrawn its proposed adjustments for any penalties . see note 13 accompanying the consolidated financial statements within item 8 of this annual report . results of equity affiliates equity in the earnings of affiliates in 2006 is primarily attributable to our 50 percent ownership in packaging investments in the u.s . and brazil . earnings in 2004 included the results of a minority-owned aerospace business , which was sold in october 2005 , and a $ 15.2 million loss representing ball 2019s share of a provision for doubtful accounts relating to its 35 percent interest in sanshui jfp ( discussed above in 201cmetal beverage packaging , europe/asia 201d ) . after consideration of the prc loss , earnings were $ 14.7 million in 2006 compared to $ 15.5 million in 2005 and $ 15.8 million in 2004 . critical and significant accounting policies and new accounting pronouncements for information regarding the company 2019s critical and significant accounting policies , as well as recent accounting pronouncements , see note 1 to the consolidated financial statements within item 8 of this report . financial condition , liquidity and capital resources cash flows and capital expenditures cash flows from operating activities were $ 401.4 million in 2006 compared to $ 558.8 million in 2005 and $ 535.9 million in 2004 . management internally uses a free cash flow measure : ( 1 ) to evaluate the company 2019s operating results , ( 2 ) for planning purposes , ( 3 ) to evaluate strategic investments and ( 4 ) to evaluate the company 2019s ability to incur and service debt . free cash flow is not a defined term under u.s . generally accepted accounting principles , and it should not be inferred that the entire free cash flow amount is available for discretionary expenditures . the company defines free cash flow as cash flow from operating activities less additions to property , plant and equipment ( capital spending ) . free cash flow is typically derived directly from the company 2019s cash flow statements ; however , it may be adjusted for items that affect comparability between periods . an example of such an item included in 2006 is the property insurance proceeds for the replacement of the fire-damaged assets in our hassloch , germany , plant , which is included in capital spending amounts . based on this , our consolidated free cash flow is summarized as follows: .
|( $ in millions )|2006|2005|2004|
|cash flows from operating activities|$ 401.4|$ 558.8|$ 535.9|
|capital spending|-279.6 ( 279.6 )|-291.7 ( 291.7 )|-196.0 ( 196.0 )|
|proceeds for replacement of fire-damaged assets|61.3|2013|2013|
|free cash flow|$ 183.1|$ 267.1|$ 339.9|
cash flows from operating activities in 2006 were negatively affected by higher cash pension funding and higher working capital levels compared to the prior year . the higher working capital was a combination of higher than planned raw material inventory levels , higher income tax payments and higher accounts receivable balances , the latter resulting primarily from the repayment of a portion of the accounts receivable securitization program and late payments from customers in europe . management expects the increase in working capital to be temporary and that working capital levels will return to normal levels by the end of the first half of 2007. .
Question: what was the difference in free cash flow between 2005 and 2006 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: |
0.36926 | Context:consolidated results of operations , financial condition , or liquidity ; however , to the extent possible , where unasserted claims are considered probable and where such claims can be reasonably estimated , we have recorded a liability . we do not expect that any known lawsuits , claims , environmental costs , commitments , contingent liabilities , or guarantees will have a material adverse effect on our consolidated results of operations , financial condition , or liquidity after taking into account liabilities previously recorded for these matters . personal injury 2013 the cost of personal injuries to employees and others related to our activities is charged to expense based on estimates of the ultimate cost and number of incidents each year . we use third-party actuaries to assist us in measuring the expense and liability , including unasserted claims . compensation for work-related accidents is governed by the federal employers 2019 liability act ( fela ) . under fela , damages are assessed based on a finding of fault through litigation or out-of-court settlements . our personal injury liability activity was as follows : millions of dollars 2006 2005 2004 .
|millions of dollars|2006|2005|2004|
|beginning balance|$ 619|$ 639|$ 619|
|accruals|240|247|288|
|payments|-228 ( 228 )|-267 ( 267 )|-268 ( 268 )|
|ending balance at december 31|$ 631|$ 619|$ 639|
|current portion ending balance at december 31|$ 233|$ 274|$ 274|
our personal injury liability is discounted to present value using applicable u.s . treasury rates . approximately 87% ( 87 % ) of the recorded liability related to asserted claims , and approximately 13% ( 13 % ) related to unasserted claims . personal injury accruals were higher in 2004 due to a 1998 crossing accident verdict upheld in 2004 and a 2004 derailment near san antonio . asbestos 2013 we are a defendant in a number of lawsuits in which current and former employees allege exposure to asbestos . additionally , we have received claims for asbestos exposure that have not been litigated . the claims and lawsuits ( collectively referred to as 201cclaims 201d ) allege occupational illness resulting from exposure to asbestos- containing products . in most cases , the claimants do not have credible medical evidence of physical impairment resulting from the alleged exposures . additionally , most claims filed against us do not specify an amount of alleged damages . during 2004 , we engaged a third party with extensive experience in estimating resolution costs for asbestos- related claims to assist us in assessing the number and value of these unasserted claims through 2034 , based on our average claims experience over a multi-year period . as a result , we increased our liability in 2004 for asbestos- related claims in the fourth quarter of 2004 . the liability for resolving both asserted and unasserted claims was based on the following assumptions : 2022 the number of future claims received would be consistent with historical averages . 2022 the number of claims filed against us will decline each year . 2022 the average settlement values for asserted and unasserted claims will be equivalent to historical averages . 2022 the percentage of claims dismissed in the future will be equivalent to historical averages. .
Question: in 2006 what was the percentage of the personal injury liability that was current as of december 31 | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-0.41681 | Context:insurance arrangement . as a result of the adoption of this new guidance , the company recorded a liability representing the actuarial present value of the future death benefits as of the employees 2019 expected retirement date of $ 45 million with the offset reflected as a cumulative-effect adjustment to january 1 , 2008 retained earnings and accumulated other comprehensive income ( loss ) in the amounts of $ 4 million and $ 41 million , respectively , in the company 2019s consolidated statement of stockholders 2019 equity . it is currently expected that minimal , if any , further cash payments will be required to fund these policies . the net periodic cost for these split-dollar life insurance arrangements was $ 6 million in both the years ended december 31 , 2009 and 2008 . the company has recorded a liability representing the actuarial present value of the future death benefits as of the employees 2019 expected retirement date of $ 48 million and $ 47 million as of december 31 , 2009 and december 31 , 2008 , respectively . defined contribution plan the company and certain subsidiaries have various defined contribution plans , in which all eligible employees participate . in the u.s. , the 401 ( k ) plan is a contributory plan . matching contributions are based upon the amount of the employees 2019 contributions . effective january 1 , 2005 , newly hired employees have a higher maximum matching contribution at 4% ( 4 % ) on the first 5% ( 5 % ) of employee contributions , compared to 3% ( 3 % ) on the first 6% ( 6 % ) of employee contributions for employees hired prior to january 2005 . effective january 1 , 2009 , the company temporarily suspended all matching contributions to the motorola 401 ( k ) plan . the company 2019s expenses , primarily relating to the employer match , for all defined contribution plans , for the years ended december 31 , 2009 , 2008 and 2007 were $ 8 million , $ 95 million and $ 116 million , respectively . 8 . share-based compensation plans and other incentive plans stock options , stock appreciation rights and employee stock purchase plan the company grants options to acquire shares of common stock to certain employees , and existing option holders in connection with the merging of option plans following an acquisition . each option granted and stock appreciation right has an exercise price of no less than 100% ( 100 % ) of the fair market value of the common stock on the date of the grant . the awards have a contractual life of five to ten years and vest over two to four years . stock options and stock appreciation rights assumed or replaced with comparable stock options or stock appreciation rights in conjunction with a change in control only become exercisable if the holder is also involuntarily terminated ( for a reason other than cause ) or quits for good reason within 24 months of a change in control . the employee stock purchase plan allows eligible participants to purchase shares of the company 2019s common stock through payroll deductions of up to 10% ( 10 % ) of eligible compensation on an after-tax basis . plan participants cannot purchase more than $ 25000 of stock in any calendar year . the price an employee pays per share is 85% ( 85 % ) of the lower of the fair market value of the company 2019s stock on the close of the first trading day or last trading day of the purchase period . the plan has two purchase periods , the first one from october 1 through march 31 and the second one from april 1 through september 30 . for the years ended december 31 , 2009 , 2008 and 2007 , employees purchased 29.4 million , 18.9 million and 10.2 million shares , respectively , at purchase prices of $ 3.60 and $ 3.68 , $ 7.91 and $ 6.07 , and $ 14.93 and $ 15.02 , respectively . the company calculates the value of each employee stock option , estimated on the date of grant , using the black-scholes option pricing model . the weighted-average estimated fair value of employee stock options granted during 2009 , 2008 and 2007 was $ 2.78 , $ 3.47 and $ 5.95 , respectively , using the following weighted-average assumptions : 2009 2008 2007 .
||2009|2008|2007|
|expected volatility|57.1% ( 57.1 % )|56.4% ( 56.4 % )|28.3% ( 28.3 % )|
|risk-free interest rate|1.9% ( 1.9 % )|2.4% ( 2.4 % )|4.5% ( 4.5 % )|
|dividend yield|0.0% ( 0.0 % )|2.7% ( 2.7 % )|1.1% ( 1.1 % )|
|expected life ( years )|3.9|5.5|6.5|
.
Question: what is the percent change in weighted-average estimated fair value of employee stock options between 2007 and 2008? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
792.33333 | Context:the following table sets forth our refined products sales by product group and our average sales price for each of the last three years . refined product sales ( thousands of barrels per day ) 2009 2008 2007 .
|( thousands of barrels per day )|2009|2008|2007|
|gasoline|830|756|791|
|distillates|357|375|377|
|propane|23|22|23|
|feedstocks and special products|75|100|103|
|heavy fuel oil|24|23|29|
|asphalt|69|76|87|
|total|1378|1352|1410|
|average sales price ( dollars per barrel )|$ 70.86|$ 109.49|$ 86.53|
we sell gasoline , gasoline blendstocks and no . 1 and no . 2 fuel oils ( including kerosene , jet fuel and diesel fuel ) to wholesale marketing customers in the midwest , upper great plains , gulf coast and southeastern regions of the united states . we sold 51 percent of our gasoline volumes and 87 percent of our distillates volumes on a wholesale or spot market basis in 2009 . the demand for gasoline is seasonal in many of our markets , with demand typically being at its highest levels during the summer months . we have blended ethanol into gasoline for over 20 years and began expanding our blending program in 2007 , in part due to federal regulations that require us to use specified volumes of renewable fuels . ethanol volumes sold in blended gasoline were 60 mbpd in 2009 , 54 mbpd in 2008 and 40 mbpd in 2007 . the future expansion or contraction of our ethanol blending program will be driven by the economics of the ethanol supply and by government regulations . we sell reformulated gasoline , which is also blended with ethanol , in parts of our marketing territory , including : chicago , illinois ; louisville , kentucky ; northern kentucky ; milwaukee , wisconsin , and hartford , illinois . we also sell biodiesel-blended diesel in minnesota , illinois and kentucky . we produce propane at all seven of our refineries . propane is primarily used for home heating and cooking , as a feedstock within the petrochemical industry , for grain drying and as a fuel for trucks and other vehicles . our propane sales are typically split evenly between the home heating market and industrial consumers . we are a producer and marketer of petrochemicals and specialty products . product availability varies by refinery and includes benzene , cumene , dilute naphthalene oil , molten maleic anhydride , molten sulfur , propylene , toluene and xylene . we market propylene , cumene and sulfur domestically to customers in the chemical industry . we sell maleic anhydride throughout the united states and canada . we also have the capacity to produce 1400 tons per day of anode grade coke at our robinson refinery , which is used to make carbon anodes for the aluminum smelting industry , and 5500 tons per day of fuel grade coke at the garyville refinery , which is used for power generation and in miscellaneous industrial applications . in early 2009 , we discontinued production and sales of petroleum pitch and aliphatic solvents at our catlettsburg refinery . we produce and market heavy residual fuel oil or related components at all seven of our refineries . another product of crude oil , heavy residual fuel oil , is primarily used in the utility and ship bunkering ( fuel ) industries , though there are other more specialized uses of the product . we have refinery based asphalt production capacity of up to 108 mbpd . we market asphalt through 33 owned or leased terminals throughout the midwest and southeast . we have a broad customer base , including approximately 675 asphalt-paving contractors , government entities ( states , counties , cities and townships ) and asphalt roofing shingle manufacturers . we sell asphalt in the wholesale and cargo markets via rail and barge . we also produce asphalt cements , polymer modified asphalt , emulsified asphalt and industrial asphalts . in 2007 , we acquired a 35 percent interest in an entity which owns and operates a 110-million-gallon-per-year ethanol production facility in clymers , indiana . we also own a 50 percent interest in an entity which owns a 110-million-gallon-per-year ethanol production facility in greenville , ohio . the greenville plant began production in february 2008 . both of these facilities are managed by a co-owner. .
Question: in thousands of bbl per day , what was average gasoline production 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: |
659916069.96 | Context:part ii item 5 . market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities our class a common stock has been listed on the new york stock exchange under the symbol 201cv 201d since march 19 , 2008 . at november 8 , 2019 , we had 348 stockholders of record of our class a common stock . the number of beneficial owners is substantially greater than the number of record holders , because a large portion of our class a common stock is held in 201cstreet name 201d by banks and brokers . there is currently no established public trading market for our class b or c common stock . there were 1397 and 509 holders of record of our class b and c common stock , respectively , as of november 8 , 2019 . on october 22 , 2019 , our board of directors declared a quarterly cash dividend of $ 0.30 per share of class a common stock ( determined in the case of class b and c common stock and series b and c preferred stock on an as-converted basis ) payable on december 3 , 2019 , to holders of record as of november 15 , 2019 of our common and preferred stock . subject to legally available funds , we expect to continue paying quarterly cash dividends on our outstanding common and preferred stock in the future . however , the declaration and payment of future dividends is at the sole discretion of our board of directors after taking into account various factors , including our financial condition , settlement indemnifications , operating results , available cash and current and anticipated cash needs . issuer purchases of equity securities the table below sets forth our purchases of common stock during the quarter ended september 30 , 2019 . period total number of shares purchased average price paid per share total number of shares purchased as part of publicly announced plans or programs ( 1 ) ( 2 ) approximate dollar value of shares that may yet be purchased under the plans or programs ( 1 ) ( 2 ) .
|period|total number ofshares purchased|average price paidper share|total number ofshares purchasedas part of publiclyannounced plans orprograms ( 1 ) ( 2 )|approximatedollar valueof shares thatmay yet bepurchased under the plans orprograms ( 1 ) ( 2 )|
|july 1-31 2019|3680103|$ 179.32|3680103|$ 5502430029|
|august 1-31 2019|4064795|$ 176.17|4064795|$ 4786268909|
|september 1-30 2019|4479497|$ 176.61|4479497|$ 3995051745|
|total|12224395|$ 177.28|12224395||
( 1 ) the figures in the table reflect transactions according to the trade dates . for purposes of our consolidated financial statements included in this form 10-k , the impact of these repurchases is recorded according to the settlement dates . ( 2 ) our board of directors from time to time authorizes the repurchase of shares of our common stock up to a certain monetary limit . in january 2019 , our board of directors authorized a share repurchase program for $ 8.5 billion . this authorization has no expiration date . all share repurchase programs authorized prior to january 2019 have been completed. .
Question: what is the total cash spent for the repurchase of shares during the month of july 2019? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-152.8 | Context:zimmer biomet holdings , inc . and subsidiaries 2018 form 10-k annual report notes to consolidated financial statements ( continued ) default for unsecured financing arrangements , including , among other things , limitations on consolidations , mergers and sales of assets . financial covenants under the 2018 , 2016 and 2014 credit agreements include a consolidated indebtedness to consolidated ebitda ratio of no greater than 5.0 to 1.0 through june 30 , 2017 , and no greater than 4.5 to 1.0 thereafter . if our credit rating falls below investment grade , additional restrictions would result , including restrictions on investments and payment of dividends . we were in compliance with all covenants under the 2018 , 2016 and 2014 credit agreements as of december 31 , 2018 . as of december 31 , 2018 , there were no borrowings outstanding under the multicurrency revolving facility . we may , at our option , redeem our senior notes , in whole or in part , at any time upon payment of the principal , any applicable make-whole premium , and accrued and unpaid interest to the date of redemption , except that the floating rate notes due 2021 may not be redeemed until on or after march 20 , 2019 and such notes do not have any applicable make-whole premium . in addition , we may redeem , at our option , the 2.700% ( 2.700 % ) senior notes due 2020 , the 3.375% ( 3.375 % ) senior notes due 2021 , the 3.150% ( 3.150 % ) senior notes due 2022 , the 3.700% ( 3.700 % ) senior notes due 2023 , the 3.550% ( 3.550 % ) senior notes due 2025 , the 4.250% ( 4.250 % ) senior notes due 2035 and the 4.450% ( 4.450 % ) senior notes due 2045 without any make-whole premium at specified dates ranging from one month to six months in advance of the scheduled maturity date . the estimated fair value of our senior notes as of december 31 , 2018 , based on quoted prices for the specific securities from transactions in over-the-counter markets ( level 2 ) , was $ 7798.9 million . the estimated fair value of japan term loan a and japan term loan b , in the aggregate , as of december 31 , 2018 , based upon publicly available market yield curves and the terms of the debt ( level 2 ) , was $ 294.7 million . the carrying values of u.s . term loan b and u.s . term loan c approximate fair value as they bear interest at short-term variable market rates . we entered into interest rate swap agreements which we designated as fair value hedges of underlying fixed-rate obligations on our senior notes due 2019 and 2021 . these fair value hedges were settled in 2016 . in 2016 , we entered into various variable-to-fixed interest rate swap agreements that were accounted for as cash flow hedges of u.s . term loan b . in 2018 , we entered into cross-currency interest rate swaps that we designated as net investment hedges . the excluded component of these net investment hedges is recorded in interest expense , net . see note 13 for additional information regarding our interest rate swap agreements . we also have available uncommitted credit facilities totaling $ 55.0 million . at december 31 , 2018 and 2017 , the weighted average interest rate for our borrowings was 3.1 percent and 2.9 percent , respectively . we paid $ 282.8 million , $ 317.5 million , and $ 363.1 million in interest during 2018 , 2017 , and 2016 , respectively . 12 . accumulated other comprehensive ( loss ) income aoci refers to certain gains and losses that under gaap are included in comprehensive income but are excluded from net earnings as these amounts are initially recorded as an adjustment to stockholders 2019 equity . amounts in aoci may be reclassified to net earnings upon the occurrence of certain events . our aoci is comprised of foreign currency translation adjustments , including unrealized gains and losses on net investment hedges , unrealized gains and losses on cash flow hedges , and amortization of prior service costs and unrecognized gains and losses in actuarial assumptions on our defined benefit plans . foreign currency translation adjustments are reclassified to net earnings upon sale or upon a complete or substantially complete liquidation of an investment in a foreign entity . unrealized gains and losses on cash flow hedges are reclassified to net earnings when the hedged item affects net earnings . amounts related to defined benefit plans that are in aoci are reclassified over the service periods of employees in the plan . see note 14 for more information on our defined benefit plans . the following table shows the changes in the components of aoci , net of tax ( in millions ) : foreign currency translation hedges defined benefit plan items .
||foreign currency translation|cash flow hedges|defined benefit plan items|total aoci|
|balance december 31 2017|$ 121.5|$ -66.5 ( 66.5 )|$ -138.2 ( 138.2 )|$ -83.2 ( 83.2 )|
|aoci before reclassifications|-135.4 ( 135.4 )|68.2|-29.7 ( 29.7 )|-96.9 ( 96.9 )|
|reclassifications to retained earnings ( note 2 )|-17.4 ( 17.4 )|-4.4 ( 4.4 )|-21.1 ( 21.1 )|-42.9 ( 42.9 )|
|reclassifications|-|23.6|12.0|35.6|
|balance december 31 2018|$ -31.3 ( 31.3 )|$ 20.9|$ -177.0 ( 177.0 )|$ -187.4 ( 187.4 )|
.
Question: what is the percent change in the balance of foreign currency translation between 2017 and 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: |
95.74825 | Context:notes to the consolidated financial statements non-financial assets and liabilities measured at fair value on a non-recurring basis during 2009 , we classified the atlantic star as held for sale and recognized a charge of $ 7.1 million to reduce the carrying value of the ship to its fair value less cost to sell based on a firm offer received during 2009 . this amount was recorded within other operating expenses in our consolidated statement of operations . we determined the fair market value of the atlantic star as of december 31 , 2010 based on comparable ship sales adjusted for the condition , age and size of the ship . we have categorized these inputs as level 3 because they are largely based on our own assump- tions . as of december 31 , 2010 , the carrying amount of the atlantic star which we still believe represents its fair value was $ 46.4 million . the following table presents a reconciliation of the company 2019s fuel call options 2019 beginning and ending balances as follows ( in thousands ) : fair value fair value measurements measurements using significant using significant unobservable unobservable year ended december 31 , 2010 inputs ( level 3 ) year ended december 31 , 2009 inputs ( level 3 ) fuel call options fuel call options balance at january 1 , 2010 $ 9998 balance at january 1 , 2009 $ 2007 2007 2007 2007 2014 total gains or losses ( realized/ unrealized ) total gains or losses ( realized/ unrealized ) .
|year ended december 31 2010 balance at january 1 2010|fairvalue measurements using significant unobservable inputs ( level 3 ) fuel call options $ 9998|year ended december 31 2009 balance at january 1 2009|fairvalue measurements using significant unobservable inputs ( level 3 ) fuel call options $ 2014|
|total gains or losses ( realized /unrealized )||total gains or losses ( realized /unrealized )||
|included in other income ( expense )|-2824 ( 2824 )|included in other income ( expense )|-2538 ( 2538 )|
|purchases issuances and settlements|24539|purchases issuances and settlements|12536|
|transfers in and/or ( out ) of level 3|-31713 ( 31713 )|transfers in and/or ( out ) of level 3|2014|
|balance at december 31 2010|$ 2014|balance at december 31 2009|$ 9998|
|the amount of total gains or losses for the period included in other income ( expense ) attributable to the change in unrealized gains or losses relating to assets still held at thereporting date|$ -2824 ( 2824 )|the amount of total gains or losses for the period included in other income ( expense ) attributable to the change in unrealized gains or losses relating to assets still held atthe reporting date|$ -2538 ( 2538 )|
the amount of total gains or losses for the period included in other income ( expense ) attributable to the change in unrealized gains or losses relating to assets still held at the reporting date $ ( 2824 ) the amount of total gains or losses for the period included in other income ( expense ) attributable to the change in unrealized gains or losses relating to assets still held at the reporting date $ ( 2538 ) during the fourth quarter of 2010 , we changed our valuation technique for fuel call options to a market approach method which employs inputs that are observable . the fair value for fuel call options is determined by using the prevailing market price for the instruments consisting of published price quotes for similar assets based on recent transactions in an active market . we believe that level 2 categorization is appropriate due to an increase in the observability and transparency of significant inputs . previously , we derived the fair value of our fuel call options using standard option pricing models with inputs based on the options 2019 contract terms and data either readily available or formulated from public market informa- tion . the fuel call options were categorized as level 3 because certain inputs , principally volatility , were unobservable . net transfers in and/or out of level 3 are reported as having occurred at the end of the quarter in which the transfer occurred ; therefore , gains or losses reflected in the table above for 2010 include fourth quarter fuel call option gains or losses . the reported fair values are based on a variety of factors and assumptions . accordingly , the fair values may not represent actual values of the financial instru- ments and long-lived assets that could have been realized as of december 31 , 2010 or december 31 , 2009 , or that will be realized in the future and do not include expenses that could be incurred in an actual sale or settlement . derivative instruments we are exposed to market risk attributable to changes in interest rates , foreign currency exchange rates and fuel prices . we manage these risks through a combi- nation of our normal operating and financing activities and through the use of derivative financial instruments pursuant to our hedging practices and policies . the financial impact of these hedging instruments is pri- marily offset by corresponding changes in the under- lying exposures being hedged . we achieve this by closely matching the amount , term and conditions of the derivative instrument with the underlying risk being hedged . we do not hold or issue derivative financial instruments for trading or other speculative purposes . we monitor our derivative positions using techniques including market valuations and sensitivity analyses. .
Question: what percent did purchase issuances and settlements increase from year ended 2009 to year ended 2010? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-0.055 | Context:gain or loss on ownership change in map results from contributions to map of certain environmental capital expenditures and leased property acquisitions funded by marathon and ashland . in accordance with map 2019s limited liability company agreement , in certain instances , environmental capital expenditures and acquisitions of leased properties are funded by the original contributor of the assets , but no change in ownership interest may result from these contributions . an excess of ashland funded improvements over marathon funded improvements results in a net gain and an excess of marathon funded improvements over ashland funded improvements results in a net loss . cost of revenues increased by $ 5.822 billion in 2004 from 2003 and by $ 6.040 billion in 2003 from 2002 . the increases are primarily in the rm&t segment and result from higher acquisition costs for crude oil , refined products , refinery charge and blend feedstocks and increased manufacturing expenses . selling , general and administrative expenses increased by $ 105 million in 2004 from 2003 and by $ 97 million in 2003 from 2002 . the increase in 2004 was primarily due to increased stock-based compensation and higher costs associated with business transformation and outsourcing . our 2004 results were also impacted by start-up costs associated with the lng project in equatorial guinea and the increased cost of complying with governmental regulations . the increase in 2003 was primarily due to increased employee benefit expenses ( caused by increased pension expense resulting from changes in actuarial assumptions and a decrease in realized returns on plan assets ) and other employee related costs . additionally , during 2003 , we recorded a charge of $ 24 million related to organizational and business process changes . inventory market valuation reserve ( 2018 2018imv 2019 2019 ) is established to reduce the cost basis of inventories to current market value . generally , we will establish an imv reserve when crude oil prices fall below $ 22 per barrel . the 2002 results of operations include credits to income from operations of $ 71 million , reversing the imv reserve at december 31 , 2001 . net interest and other financial costs decreased by $ 25 million in 2004 from 2003 and by $ 82 million in 2003 from 2002 . the decrease in 2004 is primarily due to an increase in interest income . the decrease in 2003 is primarily due to an increase in capitalized interest related to increased long-term construction projects , the favorable effect of interest rate swaps , the favorable effect of a reduction in interest on tax deficiencies and increased interest income on investments . additionally , included in net interest and other financing costs are foreign currency gains of $ 9 million , $ 13 million and $ 8 million for 2004 , 2003 and 2002 . loss from early extinguishment of debt in 2002 was attributable to the retirement of $ 337 million aggregate principal amount of debt , resulting in a loss of $ 53 million . minority interest in income of map , which represents ashland 2019s 38 percent ownership interest , increased by $ 230 million in 2004 from 2003 and by $ 129 million in 2003 from 2002 . map income was higher in 2004 compared to 2003 and in 2003 compared to 2002 as discussed below in the rm&t segment . minority interest in loss of equatorial guinea lng holdings limited , which represents gepetrol 2019s 25 percent ownership interest , was $ 7 million in 2004 , primarily resulting from gepetrol 2019s share of start-up costs associated with the lng project in equatorial guinea . provision for income taxes increased by $ 143 million in 2004 from 2003 and by $ 215 million in 2003 from 2002 , primarily due to $ 388 million and $ 720 million increases in income before income taxes . the effective tax rate for 2004 was 36.6 percent compared to 36.6 percent and 42.1 percent for 2003 and 2002 . the higher rate in 2002 was due to the united kingdom enactment of a supplementary 10 percent tax on profits from the north sea oil and gas production , retroactively effective to april 17 , 2002 . in 2002 , we recognized a one-time noncash deferred tax adjustment of $ 61 million as a result of the rate increase . the following is an analysis of the effective tax rate for the periods presented: .
||2004|2003|2002|
|statutory tax rate|35.0% ( 35.0 % )|35.0% ( 35.0 % )|35.0% ( 35.0 % )|
|effects of foreign operations ( a )|1.3|-0.4 ( 0.4 )|5.6|
|state and local income taxes after federal income tax effects|1.6|2.2|3.9|
|other federal tax effects|-1.3 ( 1.3 )|-0.2 ( 0.2 )|-2.4 ( 2.4 )|
|effective tax rate|36.6% ( 36.6 % )|36.6% ( 36.6 % )|42.1% ( 42.1 % )|
( a ) the deferred tax effect related to the enactment of a supplemental tax in the u.k . increased the effective tax rate 7.0 percent in .
Question: by how much did the effective tax rate decrease from 2002 to 2004? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-91.0 | Context:goodwill is reviewed annually during the fourth quarter for impairment . in addition , the company performs an impairment analysis of other intangible assets based on the occurrence of other factors . such factors include , but are not limited to , signifi- cant changes in membership , state funding , medical contracts and provider networks and contracts . an impairment loss is rec- ognized if the carrying value of intangible assets exceeds the implied fair value . the company did not recognize any impair- ment losses for the periods presented . medical claims liabilities medical services costs include claims paid , claims reported but not yet paid ( inventory ) , estimates for claims incurred but not yet received ( ibnr ) and estimates for the costs necessary to process unpaid claims . the estimates of medical claims liabilities are developed using standard actuarial methods based upon historical data for payment patterns , cost trends , product mix , seasonality , utiliza- tion of healthcare services and other relevant factors including product changes . these estimates are continually reviewed and adjustments , if necessary , are reflected in the period known . management did not change actuarial methods during the years presented . management believes the amount of medical claims payable is reasonable and adequate to cover the company 2019s liabil- ity for unpaid claims as of december 31 , 2005 ; however , actual claim payments may differ from established estimates . revenue recognition the majority of the company 2019s medicaid managed care premi- um revenue is received monthly based on fixed rates per member as determined by state contracts . some contracts allow for addi- tional premium related to certain supplemental services provided such as maternity deliveries . revenue is recognized as earned over the covered period of services . revenues are recorded based on membership and eligibility data provided by the states , which may be adjusted by the states for updates to this membership and eligibility data . these adjustments are immaterial in relation to total revenue recorded and are reflected in the period known . premiums collected in advance are recorded as unearned revenue . the specialty services segment generates revenue under con- tracts with state and local government entities , our health plans and third-party customers . revenues for services are recognized when the services are provided or as ratably earned over the cov- ered period of services . for performance-based contracts , the company does not recognize revenue subject to refund until data is sufficient to measure performance . such amounts are recorded as unearned revenue . revenues due to the company are recorded as premium and related receivables and recorded net of an allowance for uncol- lectible accounts based on historical trends and management 2019s judgment on the collectibility of these accounts . activity in the allowance for uncollectible accounts for the years ended december 31 is summarized below: .
||2005|2004|2003|
|allowances beginning of year|$ 462|$ 607|$ 219|
|amounts charged to expense|80|407|472|
|write-offs of uncollectible receivables|-199 ( 199 )|-552 ( 552 )|-84 ( 84 )|
|allowances end of year|$ 343|$ 462|$ 607|
significant customers centene receives the majority of its revenues under contracts or subcontracts with state medicaid managed care programs . the contracts , which expire on various dates between june 30 , 2006 and august 31 , 2008 , are expected to be renewed . contracts with the states of indiana , kansas , texas and wisconsin each accounted for 18% ( 18 % ) , 12% ( 12 % ) , 22% ( 22 % ) and 23% ( 23 % ) , respectively , of the company 2019s revenues for the year ended december 31 , 2005 . reinsurance centene has purchased reinsurance from third parties to cover eligible healthcare services . the current reinsurance program covers 90% ( 90 % ) of inpatient healthcare expenses in excess of annual deductibles of $ 300 per member , up to a lifetime maximum of $ 2000 . centene 2019s medicaid managed care subsidiaries are respon- sible for inpatient charges in excess of an average daily per diem . reinsurance recoveries were $ 4014 , $ 3730 , and $ 5345 , in 2005 , 2004 , and 2003 , respectively . reinsurance expenses were approximately $ 4105 , $ 6724 , and $ 6185 in 2005 , 2004 , and 2003 , respectively . reinsurance recoveries , net of expenses , are included in medical costs . other income ( expense ) other income ( expense ) consists principally of investment income and interest expense . investment income is derived from the company 2019s cash , cash equivalents , restricted deposits and investments . interest expense relates to borrowings under our credit facility , mortgage interest , interest on capital leases and credit facility fees . income taxes deferred tax assets and liabilities are recorded for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases . deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled . the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date of the tax rate change . valuation allowances are provided when it is considered more likely than not that deferred tax assets will not be realized . in determining if a deductible temporary difference or net operating loss can be realized , the company considers future reversals of .
Question: what were net reinsurance recoveries in 2005 ( 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: |
9.3 | Context:future impairments would be recorded in income from continuing operations . the statement provides specific guidance for testing goodwill for impairment . the company had $ 3.2 billion of goodwill at december 31 , 2001 . goodwill amortization was $ 62 million for the year ended december 31 , 2001 . the company is currently assessing the impact of sfas no . 142 on its financial position and results of operations . in june 2001 , the fasb issued sfas no . 143 , 2018 2018accounting for asset retirement obligations , 2019 2019 which addresses financial accounting and reporting for obligations associated with the retirement of tangible long-lived assets and the associated asset retirement costs . this statement is effective for financial statements issued for fiscal years beginning after june 15 , 2002 . the statement requires recognition of legal obligations associated with the retirement of a long-lived asset , except for certain obligations of lessees . the company is currently assessing the impact of sfas no . 143 on its financial position and results of operations . in december 2001 , the fasb revised its earlier conclusion , derivatives implementation group ( 2018 2018dig 2019 2019 ) issue c-15 , related to contracts involving the purchase or sale of electricity . contracts for the purchase or sale of electricity , both forward and option contracts , including capacity contracts , may qualify for the normal purchases and sales exemption and are not required to be accounted for as derivatives under sfas no . 133 . in order for contracts to qualify for this exemption , they must meet certain criteria , which include the requirement for physical delivery of the electricity to be purchased or sold under the contract only in the normal course of business . additionally , contracts that have a price based on an underlying that is not clearly and closely related to the electricity being sold or purchased or that are denominated in a currency that is foreign to the buyer or seller are not considered normal purchases and normal sales and are required to be accounted for as derivatives under sfas no . 133 . this revised conclusion is effective beginning april 1 , 2002 . the company is currently assessing the impact of revised dig issue c-15 on its financial condition and results of operations . 2001 compared to 2000 revenues revenues increased $ 1.8 billion , or 24% ( 24 % ) to $ 9.3 billion in 2001 from $ 7.5 billion in 2000 . the increase in revenues is due to the acquisition of new businesses , new operations from greenfield projects and positive improvements from existing operations . excluding businesses acquired or that commenced commercial operations in 2001 or 2000 , revenues increased 5% ( 5 % ) to $ 7.1 billion in 2001 . the following table shows the revenue of each segment: .
||2001|2000|% ( % ) change|
|contract generation|$ 2.5 billion|$ 1.7 billion|47% ( 47 % )|
|competitive supply|$ 2.7 billion|$ 2.4 billion|13% ( 13 % )|
|large utilities|$ 2.4 billion|$ 2.1 billion|14% ( 14 % )|
|growth distribution|$ 1.7 billion|$ 1.3 billion|31% ( 31 % )|
contract generation revenues increased $ 800 million , or 47% ( 47 % ) to $ 2.5 billion in 2001 from $ 1.7 billion in 2000 , principally resulting from the addition of revenues attributable to businesses acquired during 2001 or 2000 . excluding businesses acquired or that commenced commercial operations in 2001 or 2000 , contract generation revenues increased 2% ( 2 % ) to $ 1.7 billion in 2001 . the increase in contract generation segment revenues was due primarily to increases in south america , europe/africa and asia . in south america , contract generation segment revenues increased $ 472 million due mainly to the acquisition of gener and the full year of operations at uruguaiana offset by reduced revenues at tiete from the electricity rationing in brazil . in europe/africa , contract generation segment revenues increased $ 88 million , and the acquisition of a controlling interest in kilroot during 2000 was the largest contributor to the increase . in asia , contract generation segment revenues increased $ 96 million , and increased operations from our ecogen peaking plant was the most significant contributor to the .
Question: what were 2001 total segment revenues in billions? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.10345 | Context:banking ) . the results of the first step of the impairment test showed no indication of impairment in any of the reporting units at any of the periods except december 31 , 2008 and , accordingly , the company did not perform the second step of the impairment test , except for the test performed as of december 31 , 2008 . as of december 31 , 2008 , there was an indication of impairment in the north america consumer banking , latin america consumer banking and emea consumer banking reporting units and , accordingly , the second step of testing was performed on these reporting units . based on the results of the second step of testing , the company recorded a $ 9.6 billion pretax ( $ 8.7 billion after tax ) goodwill impairment charge in the fourth quarter of 2008 , representing the entire amount of goodwill allocated to these reporting units . the primary cause for the goodwill impairment in the above reporting units was the rapid deterioration in the financial markets , as well as in the global economic outlook particularly during the period beginning mid-november through year end 2008 . this deterioration further weakened the near-term prospects for the financial services industry . these and other factors , including the increased possibility of further government intervention , also resulted in the decline in the company 2019s market capitalization from approximately $ 90 billion at july 1 , 2008 and approximately $ 74 billion at october 31 , 2008 to approximately $ 36 billion at december 31 , 2008 . the more significant fair-value adjustments in the pro forma purchase price allocation in the second step of testing were to fair-value loans and debt and were made to identify and value identifiable intangibles . the adjustments to measure the assets , liabilities and intangibles were for the purpose of measuring the implied fair value of goodwill and such adjustments are not reflected in the consolidated balance sheet . the following table shows reporting units with goodwill balances and the excess of fair value of allocated book value as of december 31 , 2008 . reporting unit ( $ in millions ) fair value as a % ( % ) of allocated book value goodwill ( post-impairment ) .
|reporting unit ( $ inmillions )|fair value as a % ( % ) of allocated book value|goodwill ( post-impairment )|
|north america cards|139% ( 139 % )|6765|
|international cards|218% ( 218 % )|4066|
|asia consumer banking|293% ( 293 % )|3106|
|securities & banking|109% ( 109 % )|9774|
|global transaction services|994% ( 994 % )|1570|
|north america gwm|386% ( 386 % )|1259|
|international gwm|171% ( 171 % )|592|
while no impairment was noted in step one of our securities and banking reporting unit impairment test at october 31 , 2008 and december 31 , 2008 , goodwill present in that reporting unit may be particularly sensitive to further deterioration in economic conditions . under the market approach for valuing this reporting unit , the earnings multiples and transaction multiples were selected from multiples obtained using data from guideline companies and acquisitions . the selection of the actual multiple considers operating performance and financial condition such as return on equity and net income growth of securities and banking as compared to the guideline companies and acquisitions . for the valuation under the income approach , the company utilized a discount rate which it believes reflects the risk and uncertainty related to the projected cash flows , and selected 2013 as the terminal year . in 2013 , the value was derived assuming a return to historical levels of core-business profitability for the reporting unit , despite the significant losses experienced in 2008 . this assumption is based on management 2019s view that this recovery will occur based upon various macro- economic factors such as the recent u.s . government stimulus actions , restoring marketplace confidence and improved risk-management practices on an industry-wide basis . furthermore , company-specific actions such as its recently announced realignment of its businesses to optimize its global businesses for future profitable growth , will also be a factor in returning the company 2019s core securities and banking business to historical levels . 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 the company 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 , the company could potentially experience future material impairment charges with respect to the goodwill remaining in our securities and banking reporting unit . any such charges by themselves would not negatively affect the company 2019s tier 1 and total regulatory capital ratios , tangible capital or the company 2019s liquidity position. .
Question: in 2008 what was the tax rate associated with the goodwill impairment | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
187050.0 | Context:the amount available to us to pay cash dividends is restricted by our subsidiaries 2019 debt agreements . the indentures governing the senior subordinated notes and the senior discount notes also limit , but do not prohibit , the ability of bcp crystal , crystal llc and their respective subsidiaries to pay dividends . any decision to declare and pay dividends in the future will be made at the discretion of our board of directors and will depend on , among other things , our results of operations , cash requirements , financial condition , contractual restrictions and other factors that our board of directors may deem relevant . under the domination agreement , any minority shareholder of celanese ag who elects not to sell its shares to the purchaser will be entitled to remain a shareholder of celanese ag and to receive a gross guaranteed fixed annual payment on their shares of u3.27 per celanese share less certain corporate taxes to be paid by cag in lieu of any future dividend . see 2018 2018the transactions 2014 post-tender offer events 2014domination and profit and loss transfer agreement . 2019 2019 under delaware law , our board of directors may declare dividends only to the extent of our 2018 2018surplus 2019 2019 ( which is defined as total assets at fair market value minus total liabilities , minus statutory capital ) , or if there is no surplus , out of our net profits for the then current and/or immediately preceding fiscal years . the value of a corporation 2019s assets can be measured in a number of ways and may not necessarily equal their book value . the value of our capital may be adjusted from time to time by our board of directors but in no event will be less than the aggregate par value of our issued stock . our board of directors may base this determination on our financial statements , a fair valuation of our assets or another reasonable method . our board of directors will seek to assure itself that the statutory requirements will be met before actually declaring dividends . in future periods , our board of directors may seek opinions from outside valuation firms to the effect that our solvency or assets are sufficient to allow payment of dividends , and such opinions may not be forthcoming . if we sought and were not able to obtain such an opinion , we likely would not be able to pay dividends . in addition , pursuant to the terms of our preferred stock , we are prohibited from paying a dividend on our series a common stock unless all payments due and payable under the preferred stock have been made . celanese purchases of its equity securities period number of shares ( or units ) purchased ( 1 ) average price paid per share ( or unit ) total number of shares ( or units ) purchased as part of publicly announced plans or programs maximum number ( or approximate dollar value ) of shares ( or units ) that may yet be purchased under the plans or programs october 1 2013 october 31 , 2005 2014 2014 2014 2014 november 1 2013 november 30 , 2005 2014 2014 2014 2014 december 1 2013 december 31 , 2005 10000 $ 18.705 10000 2014 .
|period|totalnumber ofshares ( or units ) purchased ( 1 )|averageprice paidper share ( orunit )|total number ofshares ( or units ) purchased aspart ofpublicly announcedplans or programs|maximumnumber ( or approximate dollar value ) of shares ( or units ) thatmayyet be purchased under theplans orprograms|
|october 1 2013 october 312005|2014|2014|2014|2014|
|november1 2013 november 302005|2014|2014|2014|2014|
|december1 2013 december 31 2005|10000|$ 18.705|10000|2014|
|total|10000|$ 18.705|10000|2014|
( 1 ) 10000 shares of series a common stock were purchased on the open market in december 2005 at $ 18.705 per share , approved by the board of directors pursuant to the provisions of the 2004 stock incentive plan , approved by shareholders in december 2004 , to be granted to two employees in recognition of their contributions to the company . no other purchases are currently planned . equity compensation plans the information required to be included in this item 5 with respect to our equity compensation plans is incorporated by reference from the section captioned 2018 2018securities authorized for issuance under equity compensation plans 2019 2019 in the company 2019s definitive proxy statement for the 2006 annual meeting of stockholders . recent sales of unregistered securities .
Question: what was the cost of the shares of series a common stock were purchased on the open market in december 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: |
1165.0 | Context:table of contents the foreign provision for income taxes is based on foreign pre-tax earnings of $ 33.6 billion , $ 30.5 billion and $ 36.8 billion in 2014 , 2013 and 2012 , respectively . the company 2019s consolidated financial statements provide for any related tax liability on undistributed earnings that the company does not intend to be indefinitely reinvested outside the u.s . substantially all of the company 2019s undistributed international earnings intended to be indefinitely reinvested in operations outside the u.s . were generated by subsidiaries organized in ireland , which has a statutory tax rate of 12.5% ( 12.5 % ) . as of september 27 , 2014 , u.s . income taxes have not been provided on a cumulative total of $ 69.7 billion of such earnings . the amount of unrecognized deferred tax liability related to these temporary differences is estimated to be approximately $ 23.3 billion . as of september 27 , 2014 and september 28 , 2013 , $ 137.1 billion and $ 111.3 billion , respectively , of the company 2019s cash , cash equivalents and marketable securities were held by foreign subsidiaries and are generally based in u.s . dollar-denominated holdings . amounts held by foreign subsidiaries are generally subject to u.s . income taxation on repatriation to the u.s . a reconciliation of the provision for income taxes , with the amount computed by applying the statutory federal income tax rate ( 35% ( 35 % ) in 2014 , 2013 and 2012 ) to income before provision for income taxes for 2014 , 2013 and 2012 , is as follows ( dollars in millions ) : the company 2019s income taxes payable have been reduced by the tax benefits from employee stock plan awards . for stock options , the company receives an income tax benefit calculated as the tax effect of the difference between the fair market value of the stock issued at the time of the exercise and the exercise price . for rsus , the company receives an income tax benefit upon the award 2019s vesting equal to the tax effect of the underlying stock 2019s fair market value . the company had net excess tax benefits from equity awards of $ 706 million , $ 643 million and $ 1.4 billion in 2014 , 2013 and 2012 , respectively , which were reflected as increases to common stock . apple inc . | 2014 form 10-k | 64 .
||2014|2013|2012|
|computed expected tax|$ 18719|$ 17554|$ 19517|
|state taxes net of federal effect|469|508|677|
|indefinitely invested earnings of foreign subsidiaries|-4744 ( 4744 )|-4614 ( 4614 )|-5895 ( 5895 )|
|research and development credit net|-88 ( 88 )|-287 ( 287 )|-103 ( 103 )|
|domestic production activities deduction|-495 ( 495 )|-308 ( 308 )|-328 ( 328 )|
|other|112|265|162|
|provision for income taxes|$ 13973|$ 13118|$ 14030|
|effective tax rate|26.1% ( 26.1 % )|26.2% ( 26.2 % )|25.2% ( 25.2 % )|
.
Question: what was the change in millions in the computed expected tax 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: |
1.3835 | Context:measurement point december 31 the priceline group nasdaq composite index s&p 500 rdg internet composite .
|measurement pointdecember 31|the priceline group inc .|nasdaqcomposite index|s&p 500index|rdg internetcomposite|
|2010|100.00|100.00|100.00|100.00|
|2011|117.06|100.53|102.11|102.11|
|2012|155.27|116.92|118.45|122.23|
|2013|290.93|166.19|156.82|199.42|
|2014|285.37|188.78|178.29|195.42|
|2015|319.10|199.95|180.75|267.25|
.
Question: what was the difference in percentage change between the priceline group inc . and the s&p 500index for the five years ended 2015? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.16046 | Context:there were no changes in the company 2019s valuation techniques used to measure fair values on a recurring basis as a result of adopting asc 820 . pca had no assets or liabilities that were measured on a nonrecurring basis . 11 . stockholders 2019 equity on october 17 , 2007 , pca announced that its board of directors authorized a $ 150.0 million common stock repurchase program . there is no expiration date for the common stock repurchase program . through december 31 , 2008 , the company repurchased 3818729 shares of common stock , with 3142600 shares repurchased during 2008 and 676129 shares repurchased during 2007 . all repurchased shares were retired prior to december 31 , 2008 . there were no shares repurchased in 2009 . as of december 31 , 2009 , $ 65.0 million of the $ 150.0 million authorization remained available for repurchase of the company 2019s common stock . 12 . commitments and contingencies capital commitments the company had authorized capital commitments of approximately $ 41.7 million and $ 43.0 million as of december 31 , 2009 and 2008 , respectively , in connection with the expansion and replacement of existing facilities and equipment . in addition , commitments at december 31 , 2009 for the major energy optimization projects at its counce and valdosta mills totaled $ 156.3 million . lease obligations pca leases space for certain of its facilities and cutting rights to approximately 91000 acres of timberland under long-term leases . the company also leases equipment , primarily vehicles and rolling stock , and other assets under long-term leases with a duration of two to seven years . the minimum lease payments under non-cancelable operating leases with lease terms in excess of one year are as follows: .
||( in thousands )|
|2010|$ 28162|
|2011|25181|
|2012|17338|
|2013|11557|
|2014|7742|
|thereafter|18072|
|total|$ 108052|
total lease expense , including base rent on all leases and executory costs , such as insurance , taxes , and maintenance , for the years ended december 31 , 2009 , 2008 and 2007 was $ 41.3 million , $ 41.6 million and $ 39.8 million , respectively . these costs are included in cost of goods sold and selling and administrative expenses . pca was obligated under capital leases covering buildings and machinery and equipment in the amount of $ 23.1 million and $ 23.7 million at december 31 , 2009 and 2008 , respectively . during the fourth quarter of 2008 , the company entered into a capital lease relating to buildings and machinery , totaling $ 23.9 million , payable over 20 years . this capital lease amount is a non-cash transaction and , accordingly , has been excluded packaging corporation of america notes to consolidated financial statements ( continued ) december 31 , 2009 .
Question: what percentage of total minimum lease payments under non-cancelable operating leases with lease terms in excess of one year are 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: |
0.01269 | Context:substantially all of the goodwill and other intangible assets recorded related to the acquisition of allied are not deductible for tax purposes . pro forma information the consolidated financial statements presented for republic include the operating results of allied from the date of the acquisition . the following pro forma information is presented assuming the merger had been completed as of january 1 , 2007 . the unaudited pro forma information presented below has been prepared for illustrative purposes and is not intended to be indicative of the results of operations that would have actually occurred had the acquisition been consummated at the beginning of the periods presented or of future results of the combined operations ( in millions , except share and per share amounts ) . year ended december 31 , year ended december 31 , ( unaudited ) ( unaudited ) .
||year ended december 31 2008 ( unaudited )|year ended december 31 2007 ( unaudited )|
|revenue|$ 9362.2|$ 9244.9|
|income from continuing operations available to common stockholders|285.7|423.2|
|basic earnings per share|.76|1.10|
|diluted earnings per share|.75|1.09|
the above unaudited pro forma financial information includes adjustments for amortization of identifiable intangible assets , accretion of discounts to fair value associated with debt , environmental , self-insurance and other liabilities , accretion of capping , closure and post-closure obligations and amortization of the related assets , and provision for income taxes . assets held for sale as a condition of the merger with allied in december 2008 , we reached a settlement with the doj requiring us to divest of certain operations serving fifteen metropolitan areas including los angeles , ca ; san francisco , ca ; denver , co ; atlanta , ga ; northwestern indiana ; lexington , ky ; flint , mi ; cape girardeau , mo ; charlotte , nc ; cleveland , oh ; philadelphia , pa ; greenville-spartanburg , sc ; and fort worth , houston and lubbock , tx . the settlement requires us to divest 87 commercial waste collection routes , nine landfills and ten transfer stations , together with ancillary assets and , in three cases , access to landfill disposal capacity . we have classified the assets and liabilities we expect to divest ( including accounts receivable , property and equipment , goodwill , and accrued landfill and environmental costs ) as assets held for sale in our consolidated balance sheet at december 31 , 2008 . the assets held for sale related to operations that were republic 2019s prior to the merger with allied have been adjusted to the lower of their carrying amounts or estimated fair values less costs to sell , which resulted in us recognizing an asset impairment loss of $ 6.1 million in our consolidated statement of income for the year ended december 31 , 2008 . the assets held for sale related to operations that were allied 2019s prior to the merger are recorded at their estimated fair values in our consolidated balance sheet as of december 31 , 2008 in accordance with the purchase method of accounting . in february 2009 , we entered into an agreement to divest certain assets to waste connections , inc . the assets covered by the agreement include six municipal solid waste landfills , six collection operations and three transfer stations across the following seven markets : los angeles , ca ; denver , co ; houston , tx ; lubbock , tx ; greenville-spartanburg , sc ; charlotte , nc ; and flint , mi . the transaction with waste connections is subject to closing conditions regarding due diligence , regulatory approval and other customary matters . closing is expected to occur in the second quarter of 2009 . republic services , inc . and subsidiaries notes to consolidated financial statements %%transmsg*** transmitting job : p14076 pcn : 106000000 ***%%pcmsg|104 |00046|yes|no|02/28/2009 21:07|0|0|page is valid , no graphics -- color : d| .
Question: what was the percent of the growth in the revenues from 2007 to 2008 | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.30202 | Context:the company further presents total net 201ceconomic 201d investment exposure , net of deferred compensation investments and hedged investments , to reflect another gauge for investors as the economic impact of investments held pursuant to deferred compensation arrangements is substantially offset by a change in compensation expense and the impact of hedged investments is substantially mitigated by total return swap hedges . carried interest capital allocations are excluded as there is no impact to blackrock 2019s stockholders 2019 equity until such amounts are realized as performance fees . finally , the company 2019s regulatory investment in federal reserve bank stock , which is not subject to market or interest rate risk , is excluded from the company 2019s net economic investment exposure . ( dollar amounts in millions ) december 31 , december 31 .
|( dollar amounts in millions )|december 31 2012|december 31 2011|
|total investments gaap|$ 1750|$ 1631|
|investments held by consolidated sponsored investmentfunds ( 1 )|-524 ( 524 )|-587 ( 587 )|
|net exposure to consolidated investment funds|430|475|
|total investments as adjusted|1656|1519|
|federal reserve bank stock ( 2 )|-89 ( 89 )|-328 ( 328 )|
|carried interest|-85 ( 85 )|-21 ( 21 )|
|deferred compensation investments|-62 ( 62 )|-65 ( 65 )|
|hedged investments|-209 ( 209 )|-43 ( 43 )|
|total 201ceconomic 201d investment exposure|$ 1211|$ 1062|
total 201ceconomic 201d investment exposure . . . $ 1211 $ 1062 ( 1 ) at december 31 , 2012 and december 31 , 2011 , approximately $ 524 million and $ 587 million , respectively , of blackrock 2019s total gaap investments were maintained in sponsored investment funds that were deemed to be controlled by blackrock in accordance with gaap , and , therefore , are consolidated even though blackrock may not economically own a majority of such funds . ( 2 ) the decrease of $ 239 million related to a lower holding requirement of federal reserve bank stock held by blackrock institutional trust company , n.a . ( 201cbtc 201d ) . total investments , as adjusted , at december 31 , 2012 increased $ 137 million from december 31 , 2011 , resulting from $ 765 million of purchases/capital contributions , $ 185 million from positive market valuations and earnings from equity method investments , and $ 64 million from net additional carried interest capital allocations , partially offset by $ 742 million of sales/maturities and $ 135 million of distributions representing return of capital and return on investments. .
Question: in 2012 , investments held by consolidated sponsored investment funds reduced the company's investment exposure by what percent? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.05583 | Context:other expense , net , decreased $ 6.2 million , or 50.0% ( 50.0 % ) , for the year ended december 31 , 2004 compared to the year ended december 31 , 2003 . the decrease was primarily due to a reduction in charges on disposal and transfer costs of fixed assets and facility closure costs of $ 3.3 million , reduced legal charges of $ 1.5 million , and a reduction in expenses of $ 1.4 million consisting of individually insignificant items . interest expense and income taxes interest expense decreased in 2004 by $ 92.2 million , or 75.7% ( 75.7 % ) , from 2003 . this decrease included $ 73.3 million of expenses related to the company 2019s debt refinancing , which was completed in july 2003 . the $ 73.3 million of expenses consisted of $ 55.9 million paid in premiums for the tender of the 95 20448% ( 20448 % ) senior subordinated notes , and a $ 17.4 million non-cash charge for the write-off of deferred financing fees related to the 95 20448% ( 20448 % ) notes and pca 2019s original revolving credit facility . excluding the $ 73.3 million charge , interest expense was $ 18.9 million lower than in 2003 as a result of lower interest rates attributable to the company 2019s july 2003 refinancing and lower debt levels . pca 2019s effective tax rate was 38.0% ( 38.0 % ) for the year ended december 31 , 2004 and 42.3% ( 42.3 % ) for the year ended december 31 , 2003 . the higher tax rate in 2003 is due to stable permanent items over lower book income ( loss ) . for both years 2004 and 2003 tax rates are higher than the federal statutory rate of 35.0% ( 35.0 % ) due to state income taxes . year ended december 31 , 2003 compared to year ended december 31 , 2002 the historical results of operations of pca for the years ended december 31 , 2003 and 2002 are set forth below : for the year ended december 31 , ( in millions ) 2003 2002 change .
|( in millions )|2003|2002|change|
|net sales|$ 1735.5|$ 1735.9|$ -0.4 ( 0.4 )|
|income before interest and taxes|$ 96.9|$ 145.3|$ -48.4 ( 48.4 )|
|interest expense net|-121.8 ( 121.8 )|-67.7 ( 67.7 )|-54.1 ( 54.1 )|
|income ( loss ) before taxes|-24.9 ( 24.9 )|77.6|-102.5 ( 102.5 )|
|( provision ) benefit for income taxes|10.5|-29.4 ( 29.4 )|39.9|
|net income ( loss )|$ -14.4 ( 14.4 )|$ 48.2|$ -62.6 ( 62.6 )|
net sales net sales decreased by $ 0.4 million , or 0.0% ( 0.0 % ) , for the year ended december 31 , 2003 from the year ended december 31 , 2002 . net sales increased due to improved sales volumes compared to 2002 , however , this increase was entirely offset by lower sales prices . total corrugated products volume sold increased 2.1% ( 2.1 % ) to 28.1 billion square feet in 2003 compared to 27.5 billion square feet in 2002 . on a comparable shipment-per-workday basis , corrugated products sales volume increased 1.7% ( 1.7 % ) in 2003 from 2002 . shipments-per-workday is calculated by dividing our total corrugated products volume during the year by the number of workdays within the year . the lower percentage increase was due to the fact that 2003 had one more workday ( 252 days ) , those days not falling on a weekend or holiday , than 2002 ( 251 days ) . containerboard sales volume to external domestic and export customers decreased 6.7% ( 6.7 % ) to 445000 tons for the year ended december 31 , 2003 from 477000 tons in the comparable period of 2002 . income before interest and taxes income before interest and taxes decreased by $ 48.4 million , or 33.3% ( 33.3 % ) , for the year ended december 31 , 2003 compared to 2002 . included in income before interest and taxes for the twelve months .
Question: what was the operating margin for 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: |
-72.8 | Context:page 29 of 98 in connection with the internal revenue service 2019s ( irs ) examination of ball 2019s consolidated income tax returns for the tax years 2000 through 2004 , the irs has proposed to disallow ball 2019s deductions of interest expense incurred on loans under a company-owned life insurance plan that has been in place for more than 20 years . ball believes that its interest deductions will be sustained as filed and , therefore , no provision for loss has been recorded . the total potential liability for the audit years 1999 through 2004 , unaudited year 2005 and an estimate of the impact on 2006 is approximately $ 31 million , excluding related interest . the irs has withdrawn its proposed adjustments for any penalties . see note 13 accompanying the consolidated financial statements within item 8 of this annual report . results of equity affiliates equity in the earnings of affiliates in 2006 is primarily attributable to our 50 percent ownership in packaging investments in the u.s . and brazil . earnings in 2004 included the results of a minority-owned aerospace business , which was sold in october 2005 , and a $ 15.2 million loss representing ball 2019s share of a provision for doubtful accounts relating to its 35 percent interest in sanshui jfp ( discussed above in 201cmetal beverage packaging , europe/asia 201d ) . after consideration of the prc loss , earnings were $ 14.7 million in 2006 compared to $ 15.5 million in 2005 and $ 15.8 million in 2004 . critical and significant accounting policies and new accounting pronouncements for information regarding the company 2019s critical and significant accounting policies , as well as recent accounting pronouncements , see note 1 to the consolidated financial statements within item 8 of this report . financial condition , liquidity and capital resources cash flows and capital expenditures cash flows from operating activities were $ 401.4 million in 2006 compared to $ 558.8 million in 2005 and $ 535.9 million in 2004 . management internally uses a free cash flow measure : ( 1 ) to evaluate the company 2019s operating results , ( 2 ) for planning purposes , ( 3 ) to evaluate strategic investments and ( 4 ) to evaluate the company 2019s ability to incur and service debt . free cash flow is not a defined term under u.s . generally accepted accounting principles , and it should not be inferred that the entire free cash flow amount is available for discretionary expenditures . the company defines free cash flow as cash flow from operating activities less additions to property , plant and equipment ( capital spending ) . free cash flow is typically derived directly from the company 2019s cash flow statements ; however , it may be adjusted for items that affect comparability between periods . an example of such an item included in 2006 is the property insurance proceeds for the replacement of the fire-damaged assets in our hassloch , germany , plant , which is included in capital spending amounts . based on this , our consolidated free cash flow is summarized as follows: .
|( $ in millions )|2006|2005|2004|
|cash flows from operating activities|$ 401.4|$ 558.8|$ 535.9|
|capital spending|-279.6 ( 279.6 )|-291.7 ( 291.7 )|-196.0 ( 196.0 )|
|proceeds for replacement of fire-damaged assets|61.3|2013|2013|
|free cash flow|$ 183.1|$ 267.1|$ 339.9|
cash flows from operating activities in 2006 were negatively affected by higher cash pension funding and higher working capital levels compared to the prior year . the higher working capital was a combination of higher than planned raw material inventory levels , higher income tax payments and higher accounts receivable balances , the latter resulting primarily from the repayment of a portion of the accounts receivable securitization program and late payments from customers in europe . management expects the increase in working capital to be temporary and that working capital levels will return to normal levels by the end of the first half of 2007. .
Question: what was the difference in free cash flow between 2004 and 2005 in millions? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.033 | Context:marathon oil corporation notes to consolidated financial statements expected long-term return on plan assets 2013 the expected long-term return on plan assets assumption for our u.s . funded plan is determined based on an asset rate-of-return modeling tool developed by a third-party investment group which utilizes underlying assumptions based on actual returns by asset category and inflation and takes into account our u.s . pension plan 2019s asset allocation . to determine the expected long-term return on plan assets assumption for our international plans , we consider the current level of expected returns on risk-free investments ( primarily government bonds ) , the historical levels of the risk premiums associated with the other applicable asset categories and the expectations for future returns of each asset class . the expected return for each asset category is then weighted based on the actual asset allocation to develop the overall expected long-term return on plan assets assumption . assumed weighted average health care cost trend rates .
||2018|2017|2016|
|initial health care trend rate|n/a|8.00% ( 8.00 % )|8.25% ( 8.25 % )|
|ultimate trend rate|n/a|4.70% ( 4.70 % )|4.50% ( 4.50 % )|
|year ultimate trend rate is reached|n/a|2025|2025|
n/a all retiree medical subsidies are frozen as of january 1 , 2019 . employer provided subsidies for post-65 retiree health care coverage were frozen effective january 1 , 2017 at january 1 , 2016 established amount levels . company contributions are funded to a health reimbursement account on the retiree 2019s behalf to subsidize the retiree 2019s cost of obtaining health care benefits through a private exchange ( the 201cpost-65 retiree health benefits 201d ) . therefore , a 1% ( 1 % ) change in health care cost trend rates would not have a material impact on either the service and interest cost components and the postretirement benefit obligations . in the fourth quarter of 2018 , we terminated the post-65 retiree health benefits effective as of december 31 , 2020 . the post-65 retiree health benefits will no longer be provided after that date . in addition , the pre-65 retiree medical coverage subsidy has been frozen as of january 1 , 2019 , and the ability for retirees to opt in and out of this coverage , as well as pre-65 retiree dental and vision coverage , has also been eliminated . retirees must enroll in connection with retirement for such coverage , or they lose eligibility . these plan changes reduced our retiree medical benefit obligation by approximately $ 99 million . plan investment policies and strategies 2013 the investment policies for our u.s . and international pension plan assets reflect the funded status of the plans and expectations regarding our future ability to make further contributions . long-term investment goals are to : ( 1 ) manage the assets in accordance with applicable legal requirements ; ( 2 ) produce investment returns which meet or exceed the rates of return achievable in the capital markets while maintaining the risk parameters set by the plan's investment committees and protecting the assets from any erosion of purchasing power ; and ( 3 ) position the portfolios with a long-term risk/ return orientation . investment performance and risk is measured and monitored on an ongoing basis through quarterly investment meetings and periodic asset and liability studies . u.s . plan 2013 the plan 2019s current targeted asset allocation is comprised of 55% ( 55 % ) equity securities and 45% ( 45 % ) other fixed income securities . over time , as the plan 2019s funded ratio ( as defined by the investment policy ) improves , in order to reduce volatility in returns and to better match the plan 2019s liabilities , the allocation to equity securities will decrease while the amount allocated to fixed income securities will increase . the plan's assets are managed by a third-party investment manager . international plan 2013 our international plan's target asset allocation is comprised of 55% ( 55 % ) equity securities and 45% ( 45 % ) fixed income securities . the plan assets are invested in ten separate portfolios , mainly pooled fund vehicles , managed by several professional investment managers whose performance is measured independently by a third-party asset servicing consulting fair value measurements 2013 plan assets are measured at fair value . the following provides a description of the valuation techniques employed for each major plan asset class at december 31 , 2018 and 2017 . cash and cash equivalents 2013 cash and cash equivalents are valued using a market approach and are considered level 1 . equity securities 2013 investments in common stock are valued using a market approach at the closing price reported in an active market and are therefore considered level 1 . private equity investments include interests in limited partnerships which are valued based on the sum of the estimated fair values of the investments held by each partnership , determined using a combination of market , income and cost approaches , plus working capital , adjusted for liabilities , currency translation and estimated performance incentives . these private equity investments are considered level 3 . investments in pooled funds are valued using a market approach , these various funds consist of equity with underlying investments held in u.s . and non-u.s . securities . the pooled funds are benchmarked against a relative public index and are considered level 2. .
Question: what was the difference in the initial health care trend rate and the ultimate trend rate 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: |
0.10145 | Context:contracts and customer purchase orders are generally used to determine the existence of an arrangement . shipping documents are used to verify delivery . the company assesses whether the selling price is fixed or determinable based upon the payment terms associated with the transaction and whether the sales price is subject to refund or adjustment . the company assesses collectibility based primarily on the creditworthiness of the customer as determined by credit checks and analysis , as well as the customer 2019s payment history . accruals for customer returns for defective product are based on historical experience with similar types of sales . accruals for rebates and incentives are based on pricing agreements and are generally tied to sales volume . changes in such accruals may be required if future returns differ from historical experience or if actual sales volume differ from estimated sales volume . rebates and incentives are recognized as a reduction of sales . compensated absences . in the fourth quarter of 2001 , the company changed its vacation policy for certain employees so that vacation pay is earned ratably throughout the year and must be used by year-end . the accrual for compensated absences was reduced by $ 1.6 million in 2001 to eliminate vacation pay no longer required to be accrued under the current policy . advertising . advertising costs are charged to operations as incurred and amounted to $ 18.4 , $ 16.2 and $ 8.8 million during 2003 , 2002 and 2001 respectively . research and development . research and development costs are charged to operations as incurred and amounted to $ 34.6 , $ 30.4 and $ 27.6 million during 2003 , 2002 and 2001 , respectively . product warranty . the company 2019s products carry warranties that generally range from one to six years and are based on terms that are generally accepted in the market place . the company records a liability for the expected cost of warranty-related claims at the time of sale . the allocation of our warranty liability between current and long-term is based on expected warranty claims to be paid in the next year as determined by historical product failure rates . 1 . organization and significant accounting policies ( continued ) the following table presents the company 2019s product warranty liability activity in 2003 and 2002 : note to table : environmental costs . the company accrues for losses associated with environmental obligations when such losses are probable and reasonably estimable . costs of estimated future expenditures are not discounted to their present value . recoveries of environmental costs from other parties are recorded as assets when their receipt is considered probable . the accruals are adjusted as facts and circumstances change . stock based compensation . the company has one stock-based employee compensation plan ( see note 11 ) . sfas no . 123 , 201caccounting for stock-based compensation , 201d encourages , but does not require companies to record compensation cost for stock-based employee compensation plans at fair value . the company has chosen to continue applying accounting principles board opinion no . 25 , 201caccounting for stock issued to employees , 201d and related interpretations , in accounting for its stock option plans . accordingly , because the number of shares is fixed and the exercise price of the stock options equals the market price of the underlying stock on the date of grant , no compensation expense has been recognized . had compensation cost been determined based upon the fair value at the grant date for awards under the plans based on the provisions of sfas no . 123 , the company 2019s pro forma earnings and earnings per share would have been as follows: .
|years ended december 31 ( dollars in millions )|2003|2002|
|balance at beginning of year|$ 63.2|$ 69.6|
|expense|29.1|29.9|
|claims settled|-30.2 ( 30.2 )|-29.1 ( 29.1 )|
|customer warranty waiver ( 1 )|--|-7.2 ( 7.2 )|
|balance at end of year|$ 62.1|$ 63.2|
( 1 ) in exchange for other concessions , the customer has agreed to accept responsibility for units they have purchased from the company which become defective . the amount of the warranty reserve applicable to the estimated number of units previously sold to this customer that may become defective has been reclassified from the product warranty liability to a deferred revenue account. .
Question: what was the percentage change in research and development costs between 2001 and 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: |
1.81081 | Context:for the year ended december 31 , 2005 , we realized net losses of $ 1 million on sales of available-for- sale securities . unrealized gains of $ 1 million were included in other comprehensive income at december 31 , 2004 , net of deferred taxes of less than $ 1 million , related to these sales . for the year ended december 31 , 2004 , we realized net gains of $ 26 million on sales of available-for- sale securities . unrealized gains of $ 11 million were included in other comprehensive income at december 31 , 2003 , net of deferred taxes of $ 7 million , related to these sales . note 13 . equity-based compensation the 2006 equity incentive plan was approved by shareholders in april 2006 , and 20000000 shares of common stock were approved for issuance for stock and stock-based awards , including stock options , stock appreciation rights , restricted stock , deferred stock and performance awards . in addition , up to 8000000 shares from our 1997 equity incentive plan , that were available to issue or become available due to cancellations and forfeitures , may be awarded under the 2006 plan . the 1997 plan expired on december 18 , 2006 . as of december 31 , 2006 , 1305420 shares from the 1997 plan have been added to and may be awarded from the 2006 plan . as of december 31 , 2006 , 106045 awards have been made under the 2006 plan . we have stock options outstanding from previous plans , including the 1997 plan , under which no further grants can be made . the exercise price of non-qualified and incentive stock options and stock appreciation rights may not be less than the fair value of such shares at the date of grant . stock options and stock appreciation rights issued under the 2006 plan and the prior 1997 plan generally vest over four years and expire no later than ten years from the date of grant . for restricted stock awards issued under the 2006 plan and the prior 1997 plan , stock certificates are issued at the time of grant and recipients have dividend and voting rights . in general , these grants vest over three years . for deferred stock awards issued under the 2006 plan and the prior 1997 plan , no stock is issued at the time of grant . generally , these grants vest over two- , three- or four-year periods . performance awards granted under the 2006 equity incentive plan and the prior 1997 plan are earned over a performance period based on achievement of goals , generally over two- to three- year periods . payment for performance awards is made in shares of our common stock or in cash equal to the fair market value of our common stock , based on certain financial ratios after the conclusion of each performance period . we record compensation expense , equal to the estimated fair value of the options on the grant date , on a straight-line basis over the options 2019 vesting period . we use a black-scholes option-pricing model to estimate the fair value of the options granted . the weighted-average assumptions used in connection with the option-pricing model were as follows for the years indicated. .
||2006|2005|2004|
|dividend yield|1.41% ( 1.41 % )|1.85% ( 1.85 % )|1.35% ( 1.35 % )|
|expected volatility|26.50|28.70|27.10|
|risk-free interest rate|4.60|4.19|3.02|
|expected option lives ( in years )|7.8|7.8|5.0|
compensation expense related to stock options , stock appreciation rights , restricted stock awards , deferred stock awards and performance awards , which we record as a component of salaries and employee benefits expense in our consolidated statement of income , was $ 208 million , $ 110 million and $ 74 million for the years ended december 31 , 2006 , 2005 and 2004 , respectively . the related total income tax benefit recorded in our consolidated statement of income was $ 83 million , $ 44 million and $ 30 million for 2006 , 2005 and 2004 , respectively . seq 87 copyarea : 38 . x 54 . trimsize : 8.25 x 10.75 typeset state street corporation serverprocess c:\\fc\\delivery_1024177\\2771-1-do_p.pdf chksum : 0 cycle 1merrill corporation 07-2771-1 thu mar 01 17:11:13 2007 ( v 2.247w--stp1pae18 ) .
Question: what percent did the employee benefits expense increase between 2004 and 2006? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.30823 | Context:discussion and analysis of financial condition and results of operations 2014liquidity and capital resources 2014 factors affecting sources of liquidity . 201d recent sales of unregistered securities during the year ended december 31 , 2005 , we issued an aggregate of 4670335 shares of our class a common stock upon conversion of $ 57.1 million principal amount of our 3.25% ( 3.25 % ) notes . pursuant to the terms of the indenture , the holders of the 3.25% ( 3.25 % ) notes received 81.808 shares of class a common stock for every $ 1000 principal amount of notes converted . the shares were issued to the noteholders in reliance on the exemption from registration set forth in section 3 ( a ) ( 9 ) of the securities act of 1933 , as amended . no underwriters were engaged in connection with such issuances . in connection with the conversion , we paid such holders an aggregate of $ 4.9 million , calculated based on the accrued and unpaid interest on the notes and the discounted value of the future interest payments on the notes . subsequent to december 31 , 2005 , we issued shares of class a common stock upon conversions of additional 3.25% ( 3.25 % ) notes , as set forth in item 9b of this annual report under the caption 201cother information . 201d during the year ended december 31 , 2005 , we issued an aggregate of 398412 shares of our class a common stock upon exercises of 55729 warrants assumed in our merger with spectrasite , inc . in august 2005 , in connection with our merger with spectrasite , inc. , we assumed approximately 1.0 million warrants to purchase shares of spectrasite , inc . common stock . upon completion of the merger , each warrant to purchase shares of spectrasite , inc . common stock automatically converted into a warrant to purchase 7.15 shares of class a common stock at an exercise price of $ 32 per warrant . net proceeds from these warrant exercises were approximately $ 1.8 million . the shares of class a common stock issued to the warrantholders upon exercise of the warrants were issued in reliance on the exemption from registration set forth in section 3 ( a ) ( 9 ) of the securities act of 1933 , as amended . no underwriters were engaged in connection with such issuances . subsequent to december 31 , 2005 , we issued shares of class a common stock upon exercises of additional warrants , as set forth in item 9b of this annual report under the caption 201cother information . 201d issuer purchases of equity securities in november 2005 , we announced that our board of directors had approved a stock repurchase program pursuant to which we intend to repurchase up to $ 750.0 million of our class a common stock through december 2006 . during the fourth quarter of 2005 , we repurchased 2836519 shares of our class a common stock for an aggregate of $ 76.6 million pursuant to our stock repurchase program , as follows : period total number of shares purchased ( 1 ) average price paid per share total number of shares purchased as part of publicly announced plans or programs ( 1 ) approximate dollar value of shares that may yet be purchased under the plans or programs ( in millions ) .
|period|total number of shares purchased ( 1 )|average price paid per share|total number of shares purchased as part of publicly announced plans or programs ( 1 )|approximate dollar value of shares that may yet be purchased under the plans or programs ( in millions )|
|11/17/05 2013 11/30/05|874306|$ 26.25|874306|$ 727.0|
|12/1/05 2013 12/31/05|1962213|$ 27.29|1962213|$ 673.4|
|total fourth quarter|2836519|$ 26.97|2836519|$ 673.4|
( 1 ) all issuer repurchases were made pursuant to the stock repurchase program publicly announced in november 2005 . pursuant to the program , we intend to repurchase up to $ 750.0 million of our class a common stock during the period november 2005 through december 2006 . under the program , our management is authorized to purchase shares from time to time in open market purchases or privately negotiated transactions at prevailing prices as permitted by securities laws and other legal requirements , and subject to market conditions and other factors . to facilitate repurchases , we entered into a trading plan under rule 10b5-1 of the securities exchange act of 1934 , which allows us to repurchase shares during periods when we otherwise might be prevented from doing so under insider trading laws or because of self- imposed trading blackout periods . the program may be discontinued at any time . since december 31 , 2005 , we have continued to repurchase shares of our class a common stock pursuant to our stock repurchase program . between january 1 , 2006 and march 9 , 2006 , we repurchased 3.9 million shares of class a common stock for an aggregate of $ 117.4 million pursuant to the stock repurchase program. .
Question: during the period 11/17/05 2013 11/30/05 what was the percentage of the treasury stock purchased in the fourth quarter of 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: |
0.47357 | Context:the number of shares issued will be determined as the par value of the debentures divided by the average trading stock price over the preceding five-day period . at december 31 , 2008 , the unamortized adjustment to fair value for these debentures was $ 28.7 million , which is being amortized through april 15 , 2011 , the first date that the holders can require us to redeem the debentures . tax-exempt financings as of december 31 , 2008 and 2007 , we had $ 1.3 billion and $ .7 billion of fixed and variable rate tax-exempt financings outstanding , respectively , with maturities ranging from 2010 to 2037 . during 2008 , we issued $ 207.4 million of tax-exempt bonds . in addition , we acquired $ 527.0 million of tax-exempt bonds and other tax-exempt financings as part of our acquisition of allied in december 2008 . at december 31 , 2008 , the total of the unamortized adjustments to fair value for these financings was $ 52.9 million , which is being amortized to interest expense over the remaining terms of the debt . approximately two-thirds of our tax-exempt financings are remarketed weekly or daily , by a remarketing agent to effectively maintain a variable yield . these variable rate tax-exempt financings are credit enhanced with letters of credit having terms in excess of one year issued by banks with credit ratings of aa or better . the holders of the bonds can put them back to the remarketing agent at the end of each interest period . to date , the remarketing agents have been able to remarket our variable rate unsecured tax-exempt bonds . as of december 31 , 2008 , we had $ 281.9 million of restricted cash , of which $ 133.5 million was proceeds from the issuance of tax-exempt bonds and other tax-exempt financings and will be used to fund capital expenditures under the terms of the agreements . restricted cash also includes amounts held in trust as a financial guarantee of our performance . other debt other debt primarily includes capital lease liabilities of $ 139.5 million and $ 35.4 million as of december 31 , 2008 and 2007 , respectively , with maturities ranging from 2009 to 2042 . future maturities of debt aggregate maturities of notes payable , capital leases and other long-term debt as of december 31 , 2008 , excluding non-cash discounts , premiums , adjustments to fair market value of related to hedging transactions and adjustments to fair market value recorded in purchase accounting totaling $ 821.9 million , are as follows ( in millions ) : years ending december 31 , 2009 ( 1 ) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 507.4 .
|2009 ( 1 )|$ 507.4|
|2010|387.5|
|2011|1138.1|
|2012|38.4|
|2013|1139.2|
|thereafter|5313.8|
|total|$ 8524.4|
( 1 ) includes the receivables secured loan , which is a 364-day liquidity facility with a maturity date of may 29 , 2009 and has a balance of $ 400.0 million at december 31 , 2008 . although we intend to renew the liquidity facility prior to its maturity date , the outstanding balance is classified as a current liability because it has a contractual maturity of less than one year . republic services , inc . and subsidiaries notes to consolidated financial statements %%transmsg*** transmitting job : p14076 pcn : 119000000 ***%%pcmsg|117 |00024|yes|no|02/28/2009 17:21|0|0|page is valid , no graphics -- color : d| .
Question: \\nas of december 31 , 2008 , what was the percent of the proceeds form the issuance of the tax exempt and other tax exempt financing as part of the restricted cash\\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: |
359.6 | Context:sources of liquidity primary sources of liquidity for citigroup and its principal subsidiaries include : 2022 deposits ; 2022 collateralized financing transactions ; 2022 senior and subordinated debt ; 2022 commercial paper ; 2022 trust preferred and preferred securities ; and 2022 purchased/wholesale funds . citigroup 2019s funding sources are diversified across funding types and geography , a benefit of its global franchise . funding for citigroup and its major operating subsidiaries includes a geographically diverse retail and corporate deposit base of $ 774.2 billion . these deposits are diversified across products and regions , with approximately two-thirds of them outside of the u.s . this diversification provides the company with an important , stable and low-cost source of funding . a significant portion of these deposits has been , and is expected to be , long-term and stable , and are considered to be core . there are qualitative as well as quantitative assessments that determine the company 2019s calculation of core deposits . the first step in this process is a qualitative assessment of the deposits . for example , as a result of the company 2019s qualitative analysis certain deposits with wholesale funding characteristics are excluded from consideration as core . deposits that qualify under the company 2019s qualitative assessments are then subjected to quantitative analysis . excluding the impact of changes in foreign exchange rates and the sale of our retail banking operations in germany during the year ending december 31 , 2008 , the company 2019s deposit base remained stable . on a volume basis , deposit increases were noted in transaction services , u.s . retail banking and smith barney . this was partially offset by the company 2019s decision to reduce deposits considered wholesale funding , consistent with the company 2019s de-leveraging efforts , and declines in international consumer banking and the private bank . citigroup and its subsidiaries have historically had a significant presence in the global capital markets . the company 2019s capital markets funding activities have been primarily undertaken by two legal entities : ( i ) citigroup inc. , which issues long-term debt , medium-term notes , trust preferred securities , and preferred and common stock ; and ( ii ) citigroup funding inc . ( cfi ) , a first-tier subsidiary of citigroup , which issues commercial paper , medium-term notes and structured equity-linked and credit-linked notes , all of which are guaranteed by citigroup . other significant elements of long- term debt on the consolidated balance sheet include collateralized advances from the federal home loan bank system , long-term debt related to the consolidation of icg 2019s structured investment vehicles , asset-backed outstandings , and certain borrowings of foreign subsidiaries . each of citigroup 2019s major operating subsidiaries finances its operations on a basis consistent with its capitalization , regulatory structure and the environment in which it operates . particular attention is paid to those businesses that for tax , sovereign risk , or regulatory reasons cannot be freely and readily funded in the international markets . citigroup 2019s borrowings have historically been diversified by geography , investor , instrument and currency . decisions regarding the ultimate currency and interest rate profile of liquidity generated through these borrowings can be separated from the actual issuance through the use of derivative instruments . citigroup is a provider of liquidity facilities to the commercial paper programs of the two primary credit card securitization trusts with which it transacts . citigroup may also provide other types of support to the trusts . as a result of the recent economic downturn , its impact on the cashflows of the trusts , and in response to credit rating agency reviews of the trusts , the company increased the credit enhancement in the omni trust , and plans to provide additional enhancement to the master trust ( see note 23 to consolidated financial statements on page 175 for a further discussion ) . this support preserves investor sponsorship of our card securitization franchise , an important source of liquidity . banking subsidiaries there are various legal limitations on the ability of citigroup 2019s subsidiary depository institutions to extend credit , pay dividends or otherwise supply funds to citigroup and its non-bank subsidiaries . the approval of the office of the comptroller of the currency , in the case of national banks , or the office of thrift supervision , in the case of federal savings banks , is required if total dividends declared in any calendar year exceed amounts specified by the applicable agency 2019s regulations . state-chartered depository institutions are subject to dividend limitations imposed by applicable state law . in determining the declaration of dividends , each depository institution must also consider its effect on applicable risk-based capital and leverage ratio requirements , as well as policy statements of the federal regulatory agencies that indicate that banking organizations should generally pay dividends out of current operating earnings . non-banking subsidiaries citigroup also receives dividends from its non-bank subsidiaries . these non-bank subsidiaries are generally not subject to regulatory restrictions on dividends . however , as discussed in 201ccapital resources and liquidity 201d on page 94 , the ability of cgmhi to declare dividends can be restricted by capital considerations of its broker-dealer subsidiaries . cgmhi 2019s consolidated balance sheet is liquid , with the vast majority of its assets consisting of marketable securities and collateralized short-term financing agreements arising from securities transactions . cgmhi monitors and evaluates the adequacy of its capital and borrowing base on a daily basis to maintain liquidity and to ensure that its capital base supports the regulatory capital requirements of its subsidiaries . some of citigroup 2019s non-bank subsidiaries , including cgmhi , have credit facilities with citigroup 2019s subsidiary depository institutions , including citibank , n.a . borrowings under these facilities must be secured in accordance with section 23a of the federal reserve act . there are various legal restrictions on the extent to which a bank holding company and certain of its non-bank subsidiaries can borrow or obtain credit from citigroup 2019s subsidiary depository institutions or engage in certain other transactions with them . in general , these restrictions require that transactions be on arm 2019s length terms and be secured by designated amounts of specified collateral . see note 20 to the consolidated financial statements on page 169 . at december 31 , 2008 , long-term debt and commercial paper outstanding for citigroup , cgmhi , cfi and citigroup 2019s subsidiaries were as follows : in billions of dollars citigroup parent company cgmhi ( 2 ) citigroup funding inc . ( 2 ) citigroup subsidiaries long-term debt $ 192.3 $ 20.6 $ 37.4 $ 109.3 ( 1 ) .
|in billions of dollars|citigroup parent company|cgmhi ( 2 )|citigroup funding inc. ( 2 )|other citigroup subsidiaries||
|long-term debt|$ 192.3|$ 20.6|$ 37.4|$ 109.3|-1 ( 1 )|
|commercial paper|$ 2014|$ 2014|$ 28.6|$ 0.5||
( 1 ) at december 31 , 2008 , approximately $ 67.4 billion relates to collateralized advances from the federal home loan bank . ( 2 ) citigroup inc . guarantees all of cfi 2019s debt and cgmhi 2019s publicly issued securities. .
Question: what is the total long-term debt in billions of dollars for citigroup , cgmhi , cfi and citigroup 2019s subsidiaries at december 31 , 2008? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.57305 | Context:the fair value of our grants receivable is determined using a discounted cash flow model , which discounts future cash flows using an appropriate yield curve . as of december 28 , 2013 , and december 29 , 2012 , the carrying amount of our grants receivable was classified within other current assets and other long-term assets , as applicable . our long-term debt recognized at amortized cost is comprised of our senior notes and our convertible debentures . the fair value of our senior notes is determined using active market prices , and it is therefore classified as level 1 . the fair value of our convertible long-term debt is determined using discounted cash flow models with observable market inputs , and it takes into consideration variables such as interest rate changes , comparable securities , subordination discount , and credit-rating changes , and it is therefore classified as level 2 . the nvidia corporation ( nvidia ) cross-license agreement liability in the preceding table was incurred as a result of entering into a long-term patent cross-license agreement with nvidia in january 2011 . we agreed to make payments to nvidia over six years . as of december 28 , 2013 , and december 29 , 2012 , the carrying amount of the liability arising from the agreement was classified within other accrued liabilities and other long-term liabilities , as applicable . the fair value is determined using a discounted cash flow model , which discounts future cash flows using our incremental borrowing rates . note 5 : cash and investments cash and investments at the end of each period were as follows : ( in millions ) dec 28 , dec 29 .
|( in millions )|dec 282013|dec 292012|
|available-for-sale investments|$ 18086|$ 14001|
|cash|854|593|
|equity method investments|1038|992|
|loans receivable|1072|979|
|non-marketable cost method investments|1270|1202|
|reverse repurchase agreements|800|2850|
|trading assets|8441|5685|
|total cash and investments|$ 31561|$ 26302|
in the third quarter of 2013 , we sold our shares in clearwire corporation , which had been accounted for as available-for-sale marketable equity securities , and our interest in clearwire communications , llc ( clearwire llc ) , which had been accounted for as an equity method investment . in total , we received proceeds of $ 470 million on these transactions and recognized a gain of $ 439 million , which is included in gains ( losses ) on equity investments , net on the consolidated statements of income . proceeds received and gains recognized for each investment are included in the "available-for-sale investments" and "equity method investments" sections that follow . table of contents intel corporation notes to consolidated financial statements ( continued ) .
Question: what percentage of total cash and investments as of dec . 28 2013 was comprised of available-for-sale investments? | 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:part i item 1 entergy corporation , utility operating companies , and system energy including the continued effectiveness of the clean energy standards/zero emissions credit program ( ces/zec ) , the establishment of certain long-term agreements on acceptable terms with the energy research and development authority of the state of new york in connection with the ces/zec program , and nypsc approval of the transaction on acceptable terms , entergy refueled the fitzpatrick plant in january and february 2017 . in october 2015 , entergy determined that it would close the pilgrim plant . the decision came after management 2019s extensive analysis of the economics and operating life of the plant following the nrc 2019s decision in september 2015 to place the plant in its 201cmultiple/repetitive degraded cornerstone column 201d ( column 4 ) of its reactor oversight process action matrix . the pilgrim plant is expected to cease operations on may 31 , 2019 , after refueling in the spring of 2017 and operating through the end of that fuel cycle . in december 2015 , entergy wholesale commodities closed on the sale of its 583 mw rhode island state energy center ( risec ) , in johnston , rhode island . the base sales price , excluding adjustments , was approximately $ 490 million . entergy wholesale commodities purchased risec for $ 346 million in december 2011 . in december 2016 , entergy announced that it reached an agreement with consumers energy to terminate the ppa for the palisades plant on may 31 , 2018 . pursuant to the ppa termination agreement , consumers energy will pay entergy $ 172 million for the early termination of the ppa . the ppa termination agreement is subject to regulatory approvals . separately , and assuming regulatory approvals are obtained for the ppa termination agreement , entergy intends to shut down the palisades nuclear power plant permanently on october 1 , 2018 , after refueling in the spring of 2017 and operating through the end of that fuel cycle . entergy expects to enter into a new ppa with consumers energy under which the plant would continue to operate through october 1 , 2018 . in january 2017 , entergy announced that it reached a settlement with new york state to shut down indian point 2 by april 30 , 2020 and indian point 3 by april 30 , 2021 , and resolve all new york state-initiated legal challenges to indian point 2019s operating license renewal . as part of the settlement , new york state has agreed to issue indian point 2019s water quality certification and coastal zone management act consistency certification and to withdraw its objection to license renewal before the nrc . new york state also has agreed to issue a water discharge permit , which is required regardless of whether the plant is seeking a renewed nrc license . the shutdowns are conditioned , among other things , upon such actions being taken by new york state . even without opposition , the nrc license renewal process is expected to continue at least into 2018 . with the settlement concerning indian point , entergy now has announced plans for the disposition of all of the entergy wholesale commodities nuclear power plants , including the sales of vermont yankee and fitzpatrick , and the earlier than previously expected shutdowns of pilgrim , palisades , indian point 2 , and indian point 3 . see 201centergy wholesale commodities exit from the merchant power business 201d for further discussion . property nuclear generating stations entergy wholesale commodities includes the ownership of the following nuclear power plants : power plant market service year acquired location capacity - reactor type license expiration .
|power plant|market|in service year|acquired|location|capacity - reactor type|license expiration date|
|pilgrim ( a )|is0-ne|1972|july 1999|plymouth ma|688 mw - boiling water|2032 ( a )|
|fitzpatrick ( b )|nyiso|1975|nov . 2000|oswego ny|838 mw - boiling water|2034 ( b )|
|indian point 3 ( c )|nyiso|1976|nov . 2000|buchanan ny|1041 mw - pressurized water|2015 ( c )|
|indian point 2 ( c )|nyiso|1974|sept . 2001|buchanan ny|1028 mw - pressurized water|2013 ( c )|
|vermont yankee ( d )|is0-ne|1972|july 2002|vernon vt|605 mw - boiling water|2032 ( d )|
|palisades ( e )|miso|1971|apr . 2007|covert mi|811 mw - pressurized water|2031 ( e )|
.
Question: for how many years will entergy corporation run the indian point 2 power plant? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.41275 | Context:in september 2007 , we reached a settlement with the united states department of justice in an ongoing investigation into financial relationships between major orthopaedic manufacturers and consulting orthopaedic surgeons . under the terms of the settlement , we paid a civil settlement amount of $ 169.5 million and we recorded an expense in that amount . no tax benefit has been recorded related to the settlement expense due to the uncertainty as to the tax treatment . we intend to pursue resolution of this uncertainty with taxing authorities , but are unable to ascertain the outcome or timing for such resolution at this time . for more information regarding the settlement , see note 15 . in june 2006 , the financial accounting standards board ( fasb ) issued interpretation no . 48 , accounting for uncertainty in income taxes 2013 an interpretation of fasb statement no . 109 , accounting for income taxes ( fin 48 ) . fin 48 addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements . under fin 48 , we may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities , based on the technical merits of the position . the tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement . fin 48 also provides guidance on derecognition , classification , interest and penalties on income taxes , accounting in interim periods and requires increased disclosures . we adopted fin 48 on january 1 , 2007 . prior to the adoption of fin 48 we had a long term tax liability for expected settlement of various federal , state and foreign income tax liabilities that was reflected net of the corollary tax impact of these expected settlements of $ 102.1 million , as well as a separate accrued interest liability of $ 1.7 million . as a result of the adoption of fin 48 , we are required to present the different components of such liability on a gross basis versus the historical net presentation . the adoption resulted in the financial statement liability for unrecognized tax benefits decreasing by $ 6.4 million as of january 1 , 2007 . the adoption resulted in this decrease in the liability as well as a reduction to retained earnings of $ 4.8 million , a reduction in goodwill of $ 61.4 million , the establishment of a tax receivable of $ 58.2 million , which was recorded in other current and non-current assets on our consolidated balance sheet , and an increase in an interest/penalty payable of $ 7.9 million , all as of january 1 , 2007 . therefore , after the adoption of fin 48 , the amount of unrecognized tax benefits is $ 95.7 million as of january 1 , 2007 , of which $ 28.6 million would impact our effective tax rate , if recognized . the amount of unrecognized tax benefits is $ 135.2 million as of december 31 , 2007 . of this amount , $ 41.0 million would impact our effective tax rate , if recognized . a reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows ( in millions ) : .
|balance at january 1 2007|$ 95.7|
|increases related to prior periods|27.4|
|decreases related to prior periods|-5.5 ( 5.5 )|
|increases related to current period|21.9|
|decreases related to settlements with taxing authorities|-1.3 ( 1.3 )|
|decreases related to lapse of statue of limitations|-3.0 ( 3.0 )|
|balance at december 31 2007|$ 135.2|
we recognize accrued interest and penalties related to unrecognized tax benefits in income tax expense in the consolidated statements of earnings , which is consistent with the recognition of these items in prior reporting periods . as of january 1 , 2007 , we recorded a liability of $ 9.6 million for accrued interest and penalties , of which $ 7.5 million would impact our effective tax rate , if recognized . the amount of this liability is $ 19.6 million as of december 31 , 2007 . of this amount , $ 14.7 million would impact our effective tax rate , if recognized . we expect that the amount of tax liability for unrecognized tax benefits will change in the next twelve months ; however , we do not expect these changes will have a significant impact on our results of operations or financial position . the u.s . federal statute of limitations remains open for the year 2003 and onward with years 2003 and 2004 currently under examination by the irs . it is reasonably possible that a resolution with the irs for the years 2003 through 2004 will be reached within the next twelve months , but we do not anticipate this would result in any material impact on our financial position . in addition , for the 1999 tax year of centerpulse , which we acquired in october 2003 , one issue remains in dispute . the resolution of this issue would not impact our effective tax rate , as it would be recorded as an adjustment to goodwill . state income tax returns are generally subject to examination for a period of 3 to 5 years after filing of the respective return . the state impact of any federal changes remains subject to examination by various states for a period of up to one year after formal notification to the states . we have various state income tax returns in the process of examination , administrative appeals or litigation . it is reasonably possible that such matters will be resolved in the next twelve months , but we do not anticipate that the resolution of these matters would result in any material impact on our results of operations or financial position . foreign jurisdictions have statutes of limitations generally ranging from 3 to 5 years . years still open to examination by foreign tax authorities in major jurisdictions include australia ( 2003 onward ) , canada ( 1999 onward ) , france ( 2005 onward ) , germany ( 2005 onward ) , italy ( 2003 onward ) , japan ( 2001 onward ) , puerto rico ( 2005 onward ) , singapore ( 2003 onward ) , switzerland ( 2004 onward ) , and the united kingdom ( 2005 onward ) . z i m m e r h o l d i n g s , i n c . 2 0 0 7 f o r m 1 0 - k a n n u a l r e p o r t notes to consolidated financial statements ( continued ) .
Question: what was the percentage change in unrecognized tax benefits 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: |
0.06134 | Context:2022 net derivative losses of $ 13 million . review by segment general we serve clients through the following segments : 2022 risk solutions acts as an advisor and insurance and reinsurance broker , helping clients manage their risks , via consultation , as well as negotiation and placement of insurance risk with insurance carriers through our global distribution network . 2022 hr solutions partners with organizations to solve their most complex benefits , talent and related financial challenges , and improve business performance by designing , implementing , communicating and administering a wide range of human capital , retirement , investment management , health care , compensation and talent management strategies . risk solutions .
|years ended december 31,|2011|2010|2009|
|revenue|$ 6817|$ 6423|$ 6305|
|operating income|1314|1194|900|
|operating margin|19.3% ( 19.3 % )|18.6% ( 18.6 % )|14.3% ( 14.3 % )|
the demand for property and casualty insurance generally rises as the overall level of economic activity increases and generally falls as such activity decreases , affecting both the commissions and fees generated by our brokerage business . the economic activity that impacts property and casualty insurance is described as exposure units , and is closely correlated with employment levels , corporate revenue and asset values . during 2011 we began to see some improvement in pricing ; however , we would still consider this to be a 2018 2018soft market , 2019 2019 which began in 2007 . in a soft market , premium rates flatten or decrease , along with commission revenues , due to increased competition for market share among insurance carriers or increased underwriting capacity . changes in premiums have a direct and potentially material impact on the insurance brokerage industry , as commission revenues are generally based on a percentage of the premiums paid by insureds . in 2011 , pricing showed signs of stabilization and improvement in both our retail and reinsurance brokerage product lines and we expect this trend to slowly continue into 2012 . additionally , beginning in late 2008 and continuing through 2011 , we faced difficult conditions as a result of unprecedented disruptions in the global economy , the repricing of credit risk and the deterioration of the financial markets . weak global economic conditions have reduced our customers 2019 demand for our brokerage products , which have had a negative impact on our operational results . risk solutions generated approximately 60% ( 60 % ) of our consolidated total revenues in 2011 . revenues are generated primarily through fees paid by clients , commissions and fees paid by insurance and reinsurance companies , and investment income on funds held on behalf of clients . our revenues vary from quarter to quarter throughout the year as a result of the timing of our clients 2019 policy renewals , the net effect of new and lost business , the timing of services provided to our clients , and the income we earn on investments , which is heavily influenced by short-term interest rates . we operate in a highly competitive industry and compete with many retail insurance brokerage and agency firms , as well as with individual brokers , agents , and direct writers of insurance coverage . specifically , we address the highly specialized product development and risk management needs of commercial enterprises , professional groups , insurance companies , governments , health care providers , and non-profit groups , among others ; provide affinity products for professional liability , life , disability .
Question: what was the percent of the increase in the revenue from 2010 to 2011 | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.05556 | Context:the principal components of eog's rollforward of valuation allowances for deferred tax assets were as follows ( in thousands ) : .
||2016|2015|2014|
|beginning balance|$ 506127|$ 463018|$ 223599|
|increase ( 1 )|37221|146602|392729|
|decrease ( 2 )|-12667 ( 12667 )|-4315 ( 4315 )|-1424 ( 1424 )|
|other ( 3 )|-147460 ( 147460 )|-99178 ( 99178 )|-151886 ( 151886 )|
|ending balance|$ 383221|$ 506127|$ 463018|
( 1 ) increase in valuation allowance related to the generation of tax net operating losses and other deferred tax assets . ( 2 ) decrease in valuation allowance associated with adjustments to certain deferred tax assets and their related allowance . ( 3 ) represents dispositions/revisions/foreign exchange rate variances and the effect of statutory income tax rate changes . the balance of unrecognized tax benefits at december 31 , 2016 , was $ 36 million , of which $ 2 million may potentially have an earnings impact . eog records interest and penalties related to unrecognized tax benefits to its income tax provision . currently , $ 2 million of interest has been recognized in the consolidated statements of income and comprehensive income . eog does not anticipate that the amount of the unrecognized tax benefits will significantly change during the next twelve months . eog and its subsidiaries file income tax returns and are subject to tax audits in the united states and various state , local and foreign jurisdictions . eog's earliest open tax years in its principal jurisdictions are as follows : united states federal ( 2011 ) , canada ( 2012 ) , united kingdom ( 2015 ) , trinidad ( 2010 ) and china ( 2008 ) . eog's foreign subsidiaries' undistributed earnings of approximately $ 2 billion at december 31 , 2016 , are no longer considered to be permanently reinvested outside the united states and , accordingly , eog has cumulatively recorded $ 280 million of united states federal , foreign and state deferred income taxes . eog changed its permanent reinvestment assertion in 2014 . in 2016 , eog's alternative minimum tax ( amt ) credits were reduced by $ 21 million mostly as a result of carry-back claims and certain elections . remaining amt credits of $ 758 million , resulting from amt paid in prior years , will be carried forward indefinitely until they are used to offset regular income taxes in future periods . the ability of eog to utilize these amt credit carryforwards to reduce federal income taxes may become subject to various limitations under the internal revenue code . such limitations may arise if certain ownership changes ( as defined for income tax purposes ) were to occur . as of december 31 , 2016 , eog had state income tax net operating losses ( nols ) being carried forward of approximately $ 1.6 billion , which , if unused , expire between 2017 and 2035 . during 2016 , eog's united kingdom subsidiary incurred a tax nol of approximately $ 38 million which , along with prior years' nols of $ 740 million , will be carried forward indefinitely . as described above , these nols have been evaluated for the likelihood of future utilization , and valuation allowances have been established for the portion of these deferred tax assets that do not meet the "more likely than not" threshold . 7 . employee benefit plans stock-based compensation during 2016 , eog maintained various stock-based compensation plans as discussed below . eog recognizes compensation expense on grants of stock options , sars , restricted stock and restricted stock units , performance units and performance stock , and grants made under the eog resources , inc . employee stock purchase plan ( espp ) . stock-based compensation expense is calculated based upon the grant date estimated fair value of the awards , net of forfeitures , based upon eog's historical employee turnover rate . compensation expense is amortized over the shorter of the vesting period or the period from date of grant until the date the employee becomes eligible to retire without company approval. .
Question: considering the balance of unrecognized tax benefits in 2016 , what is the percentage of the potential of tax benefits that may have an earnings impact? | 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:stock performance graph : the graph below shows the cumulative total shareholder return assuming the investment of $ 100 , on december 31 , 2012 , and the reinvestment of dividends thereafter , if any , in the company 2019s common stock versus the standard and poor 2019s s&p 500 retail index ( 201cs&p 500 retail index 201d ) and the standard and poor 2019s s&p 500 index ( 201cs&p 500 201d ) . .
|company/index|december 31 , 2012|december 31 , 2013|december 31 , 2014|december 31 , 2015|december 31 , 2016|december 31 , 2017|
|o 2019reilly automotive inc .|$ 100|$ 144|$ 215|$ 283|$ 311|$ 269|
|s&p 500 retail index|100|144|158|197|206|265|
|s&p 500|$ 100|$ 130|$ 144|$ 143|$ 157|$ 187|
.
Question: was the o 2019reilly automotive inc five year return less than the s&p 500 retail index? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.01229 | Context:the retail electric price variance is primarily due to an increase in formula rate plan revenues , implemented with the first billing cycle of march 2016 , to collect the estimated first-year revenue requirement related to the purchase of power blocks 3 and 4 of the union power station in march 2016 and a provision recorded in 2016 related to the settlement of the waterford 3 replacement steam generator prudence review proceeding . see note 2 to the financial statements for further discussion of the formula rate plan revenues and the waterford 3 replacement steam generator prudence review proceeding . the louisiana act 55 financing savings obligation variance results from a regulatory charge recorded in 2016 for tax savings to be shared with customers per an agreement approved by the lpsc . the tax savings resulted from the 2010-2011 irs audit settlement on the treatment of the louisiana act 55 financing of storm costs for hurricane gustav and hurricane ike . see note 3 to the financial statements for additional discussion of the settlement and benefit sharing . the volume/weather variance is primarily due to the effect of less favorable weather on residential and commercial sales and decreased usage during the unbilled sales period . the decrease was partially offset by an increase of 1237 gwh , or 4% ( 4 % ) , in industrial usage primarily due to an increase in demand from existing customers and expansion projects in the chemicals industry . 2016 compared to 2015 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges . following is an analysis of the change in net revenue comparing 2016 to 2015 . amount ( in millions ) .
||amount ( in millions )|
|2015 net revenue|$ 2408.8|
|retail electric price|62.5|
|volume/weather|-6.7 ( 6.7 )|
|louisiana act 55 financing savings obligation|-17.2 ( 17.2 )|
|other|-9.0 ( 9.0 )|
|2016 net revenue|$ 2438.4|
the retail electric price variance is primarily due to an increase in formula rate plan revenues , implemented with the first billing cycle of march 2016 , to collect the estimated first-year revenue requirement related to the purchase of power blocks 3 and 4 of the union power station . see note 2 to the financial statements for further discussion . the volume/weather variance is primarily due to the effect of less favorable weather on residential sales , partially offset by an increase in industrial usage and an increase in volume during the unbilled period . the increase in industrial usage is primarily due to increased demand from new customers and expansion projects , primarily in the chemicals industry . the louisiana act 55 financing savings obligation variance results from a regulatory charge for tax savings to be shared with customers per an agreement approved by the lpsc . the tax savings resulted from the 2010-2011 irs audit settlement on the treatment of the louisiana act 55 financing of storm costs for hurricane gustav and hurricane ike . see note 3 to the financial statements for additional discussion of the settlement and benefit sharing . included in other is a provision of $ 23 million recorded in 2016 related to the settlement of the waterford 3 replacement steam generator prudence review proceeding , offset by a provision of $ 32 million recorded in 2015 related to the uncertainty at that time associated with the resolution of the waterford 3 replacement steam generator prudence entergy louisiana , llc and subsidiaries management 2019s financial discussion and analysis .
Question: what was the percentage increase in net revenue in 2016 | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.09192 | Context:the weighted average fair value of options granted during 2010 , 2009 and 2008 was estimated to be $ 7.84 , $ 7.18 and $ 3.84 , respectively , using the black-scholes option pricing model with the assumptions below: .
||2010|2009|2008|
|risk free interest rate|1.1% ( 1.1 % )|2.3% ( 2.3 % )|2.8% ( 2.8 % )|
|volatility|35.6% ( 35.6 % )|35.0% ( 35.0 % )|26.0% ( 26.0 % )|
|dividend yield|0.7% ( 0.7 % )|1.0% ( 1.0 % )|1.0% ( 1.0 % )|
|weighted average expected life ( years )|4.4|5.0|5.3|
at december 31 , 2010 and 2009 , the total unrecognized compensation cost related to non-vested stock awards is $ 129.3 million and $ 93.5 million , respectively , which is expected to be recognized in pre-tax income over a weighted average period of 1.7 years as of both year ends . the company granted a total of 1.5 million restricted stock awards at prices ranging from $ 25.76 to $ 28.15 on various dates in 2010 . these awards vest annually over three years . the company also granted 0.9 million performance restricted stock units during 2010 . these performance restricted stock units have been granted at the maximum achievable level and the number of shares that can vest is based on specific revenue and ebitda goals for periods from 2010 through 2012 . during 2009 , we granted 0.5 million shares of restricted stock at a price of $ 22.55 that vest annually over 3 years . on october 1 , 2009 , the company granted 0.4 million restricted stock units at a price of $ 24.85 per share that vested over six months . on march 20 , 2008 , we granted 0.4 million shares of restricted stock at a price of $ 38.75 that were to vest quarterly over 2 years . on july 2 , 2008 , 0.2 million of these shares were canceled and assumed by lps . the remaining unvested restricted shares were converted by the conversion factor of 1.7952 . these awards vested as of october 1 , 2009 , under the change in control provisions due to the metavante acquisition . on october 27 , 2008 , we granted 0.8 million shares of restricted stock at a price of $ 14.35 that vest annually over 3 years . as of december 31 , 2010 and 2009 , we have approximately 2.2 million and 1.4 million unvested restricted shares remaining . as of december 31 , 2010 we also have 0.6 million of restricted stock units that have not vested . share repurchase plans on october 25 , 2006 , our board of directors approved a plan authorizing repurchases of up to $ 200.0 million worth of our common stock ( the 201cold plan 201d ) . on april 17 , 2008 , our board of directors approved a plan authorizing repurchases of up to an additional $ 250.0 million worth of our common stock ( the 201cnew plan 201d ) . under the new plan we repurchased 5.8 million shares of our stock for $ 226.2 million , at an average price of $ 38.97 for the year ended december 31 , 2008 . during the year ended december 31 , 2008 , we also repurchased an additional 0.2 million shares of our stock for $ 10.0 million at an average price of $ 40.56 under the old plan . during 2007 , the company repurchased 1.6 million shares at an average price of $ 49.15 under the old plan . on february 4 , 2010 our board of directors approved a plan authorizing repurchases of up to 15.0 million shares of our common stock in the open market , at prevailing market prices or in privately negotiated transactions , through january 31 , 2013 . we repurchased 1.4 million shares of our common stock for $ 32.2 million , at an average price of $ 22.97 through march 31 , 2010 . no additional shares were repurchased under this plan during the year ended december 31 , 2010 . approximately 13.6 million shares of our common stock remain available to repurchase under this plan as of december 31 , 2010 . on may 25 , 2010 , our board of directors authorized a leveraged recapitalization plan to repurchase up to $ 2.5 billion of our common stock at a price range of $ 29.00 2014 $ 31.00 per share of common stock through a modified 201cdutch auction 201d tender offer ( the 201ctender offer 201d ) . the tender offer commenced on july 6 , 2010 and expired on august 3 , 2010 . the tender offer was oversubscribed at $ 29.00 , resulting in the purchase of 86.2 million shares , including 6.4 million shares underlying previously unexercised stock options . the repurchased shares were added to treasury stock . fidelity national information services , inc . and subsidiaries notes to consolidated financial statements 2014 ( continued ) %%transmsg*** transmitting job : g26369 pcn : 087000000 ***%%pcmsg|87 |00008|yes|no|03/28/2011 17:32|0|0|page is valid , no graphics -- color : n| .
Question: what is the percentage change in the fair value of the options 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: |
10000410.0 | Context:stock performance graph the following graph compares our cumulative shareholder returns with the standard & poor 2019s information technology index and the standard & poor 2019s 500 index for the five years ended may 31 , 2016 . the line graph assumes the investment of $ 100 in our common stock , the standard & poor 2019s information technology index and the standard & poor 2019s 500 index on may 31 , 2011 and assumes reinvestment of all dividends . comparison of 5 year cumulative total return* among global payments inc. , the s&p 500 index and the s&p information technology index 5/11 5/145/135/12 global payments inc . s&p 500 s&p information technology 5/15 5/16 * $ 100 invested on may 31 , 2011 in stock or index , including reinvestment of dividends . fiscal year ending may 31 . copyright a9 2016 s&p , a division of the mcgraw-hill companies inc . all rights reserved . global payments information technology .
||globalpayments|s&p500|s&pinformationtechnology|
|may 31 2011|$ 100.00|$ 100.00|$ 100.00|
|may 31 2012|81.90|99.59|107.57|
|may 31 2013|92.63|126.75|123.83|
|may 31 2014|132.59|152.67|153.42|
|may 31 2015|202.06|170.69|182.29|
|may 31 2016|300.97|173.62|187.97|
issuer purchases of equity securities as announced on july 28 , 2015 , our board of directors authorized the additional repurchase of up to $ 300.0 million of our common stock . under these and other existing authorizations , we repurchased and retired 2.2 million shares of our common stock at a cost of $ 135.9 million including commissions , or an average price of $ 63.17 per share , during the year ended may 31 , 2016 . global payments inc . | 2016 form 10-k annual report 2013 29 .
Question: if $ 100000 are invested in s&p500 in may 2011 , what will be the total value of the investment in may 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: |
205.07 | Context:stock performance graph the following graph compares our cumulative shareholder returns with the standard & poor 2019s information technology index and the standard & poor 2019s 500 index for the year ended december 31 , 2017 , the 2016 fiscal transition period , and the years ended may 31 , 2016 , 2015 , 2014 and 2013 . the line graph assumes the investment of $ 100 in our common stock , the standard & poor 2019s 500 index and the standard & poor 2019s information technology index on may 31 , 2012 and assumes reinvestment of all dividends . 5/12 5/165/155/145/13 global payments inc . s&p 500 s&p information technology 12/16 12/17 comparison of 5 year cumulative total return* among global payments inc. , the s&p 500 index and the s&p information technology index * $ 100 invested on may 31 , 2012 in stock or index , including reinvestment of dividends . copyright a9 2018 standard & poor 2019s , a division of s&p global . all rights reserved . global payments 500 index information technology .
||globalpayments|s&p500 index|s&pinformationtechnology index|
|may 31 2012|$ 100.00|$ 100.00|$ 100.00|
|may 31 2013|113.10|127.28|115.12|
|may 31 2014|161.90|153.30|142.63|
|may 31 2015|246.72|171.40|169.46|
|may 31 2016|367.50|174.34|174.75|
|december 31 2016|328.42|188.47|194.08|
|december 31 2017|474.52|229.61|269.45|
30 2013 global payments inc . | 2017 form 10-k annual report .
Question: what was the percentage gained by investing $ 100 into global payments in comparison to the technology index? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-5.66 | Context:the following unaudited pro forma information for the years ended december 31 , 2008 and 2007 pres- ents the results of operations of international paper as if the cbpr and central lewmar acquisitions , and the luiz antonio asset exchange , had occurred on january 1 , 2007 . this pro forma information does not purport to represent international paper 2019s actual results of operations if the transactions described above would have occurred on january 1 , 2007 , nor is it necessarily indicative of future results . in millions , except per share amounts 2008 2007 .
|in millions except per share amounts|2008|2007|
|net sales|$ 27920|$ 27489|
|earnings ( loss ) from continuingoperations|-1348 ( 1348 )|1083|
|net earnings ( loss ) ( 1 )|-1361 ( 1361 )|1052|
|earnings ( loss ) from continuingoperations per common share|-3.20 ( 3.20 )|2.50|
|net earnings ( loss ) per common share ( 1 )|-3.23 ( 3.23 )|2.43|
earnings ( loss ) from continuing operations per common share ( 3.20 ) 2.50 net earnings ( loss ) per common share ( 1 ) ( 3.23 ) 2.43 ( 1 ) attributable to international paper company common share- holders . joint ventures in october 2007 , international paper and ilim holding s.a . announced the completion of the formation of a 50:50 joint venture to operate in russia as ilim group . to form the joint venture , international paper purchased 50% ( 50 % ) of ilim holding s.a . ( ilim ) for approx- imately $ 620 million , including $ 545 million in cash and $ 75 million of notes payable , and contributed an additional $ 21 million in 2008 . the company 2019s investment in ilim totaled approximately $ 465 mil- lion at december 31 , 2009 , which is approximately $ 190 million higher than the company 2019s share of the underlying net assets of ilim . this basis difference primarily consists of the estimated fair value write-up of ilim plant , property and equipment of $ 150 million that is being amortized as a reduction of reported net income over the estimated remaining useful lives of the related assets , goodwill of $ 90 million and other basis differences of $ 50 million , including deferred taxes . a key element of the proposed joint venture strategy is a long-term investment program in which the joint venture will invest , through cash from operations and additional borrowings by the joint venture , approximately $ 1.5 billion in ilim 2019s three mills over approximately five years . this planned investment in the russian pulp and paper industry will be used to upgrade equipment , increase production capacity and allow for new high-value uncoated paper , pulp and corrugated packaging product development . this capital expansion strategy is expected to be ini- tiated in the second half of 2010 , subject to ilim obtaining financing sufficient to fund the project . note 7 businesses held for sale , divestitures and impairments discontinued operations 2008 : during the fourth quarter of 2008 , the com- pany recorded pre-tax gains of $ 9 million ( $ 5 million after taxes ) for adjustments to reserves associated with the sale of discontinued operations . during the first quarter of 2008 , the company recorded a pre-tax charge of $ 25 million ( $ 16 million after taxes ) related to the final settlement of a post- closing adjustment to the purchase price received by the company for the sale of its beverage packaging business , and a $ 3 million charge before taxes ( $ 2 million after taxes ) for 2008 operating losses related to certain wood products facilities . 2007 : during the fourth quarter of 2007 , the com- pany recorded a pre-tax charge of $ 9 million ( $ 6 mil- lion after taxes ) and a pre-tax credit of $ 4 million ( $ 3 million after taxes ) relating to adjustments to esti- mated losses on the sales of its beverage packaging and wood products businesses , respectively . addi- tionally , during the fourth quarter , a $ 4 million pre-tax charge ( $ 3 million after taxes ) was recorded for additional taxes associated with the sale of the company 2019s former weldwood of canada limited business . during the third quarter of 2007 , the company com- pleted the sale of the remainder of its non-u.s . beverage packaging business . during the second quarter of 2007 , the company recorded pre-tax charges of $ 6 million ( $ 4 million after taxes ) and $ 5 million ( $ 3 million after taxes ) relating to adjustments to estimated losses on the sales of its wood products and beverage packaging businesses , respectively . during the first quarter of 2007 , the company recorded pre-tax credits of $ 21 million ( $ 9 million after taxes ) and $ 6 million ( $ 4 million after taxes ) relating to the sales of its wood products and kraft papers businesses , respectively . in addition , a $ 15 million pre-tax charge ( $ 39 million after taxes ) was recorded for adjustments to the loss on the com- pletion of the sale of most of the beverage packaging business . finally , a pre-tax credit of approximately $ 10 million ( $ 6 million after taxes ) was recorded for refunds received from the canadian government of .
Question: what was the change in pro forma net earnings ( loss ) per common share between 2007 and 2008? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
35.0 | Context:provision for income taxes increased $ 1791 million in 2012 from 2011 primarily due to the increase in pretax income from continuing operations , including the impact of the resumption of sales in libya in the first quarter of 2012 . the following is an analysis of the effective income tax rates for 2012 and 2011: .
||2012|2011|
|statutory rate applied to income from continuing operations before income taxes|35% ( 35 % )|35% ( 35 % )|
|effects of foreign operations including foreign tax credits|18|6|
|change in permanent reinvestment assertion|2014|5|
|adjustments to valuation allowances|21|14|
|tax law changes|2014|1|
|effective income tax rate on continuing operations|74% ( 74 % )|61% ( 61 % )|
the effective income tax rate is influenced by a variety of factors including the geographic sources of income and the relative magnitude of these sources of income . the provision for income taxes is allocated on a discrete , stand-alone basis to pretax segment income and to individual items not allocated to segments . the difference between the total provision and the sum of the amounts allocated to segments appears in the "corporate and other unallocated items" shown in the reconciliation of segment income to net income below . effects of foreign operations 2013 the effects of foreign operations on our effective tax rate increased in 2012 as compared to 2011 , primarily due to the resumption of sales in libya in the first quarter of 2012 , where the statutory rate is in excess of 90 percent . change in permanent reinvestment assertion 2013 in the second quarter of 2011 , we recorded $ 716 million of deferred u.s . tax on undistributed earnings of $ 2046 million that we previously intended to permanently reinvest in foreign operations . offsetting this tax expense were associated foreign tax credits of $ 488 million . in addition , we reduced our valuation allowance related to foreign tax credits by $ 228 million due to recognizing deferred u.s . tax on previously undistributed earnings . adjustments to valuation allowances 2013 in 2012 and 2011 , we increased the valuation allowance against foreign tax credits because it is more likely than not that we will be unable to realize all u.s . benefits on foreign taxes accrued in those years . see item 8 . financial statements and supplementary data - note 10 to the consolidated financial statements for further information about income taxes . discontinued operations is presented net of tax , and reflects our downstream business that was spun off june 30 , 2011 and our angola business which we agreed to sell in 2013 . see item 8 . financial statements and supplementary data 2013 notes 3 and 6 to the consolidated financial statements for additional information. .
Question: what were total adjustments to valuation allowances 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: |
-0.05411 | Context:14 . capital stock and earnings per share we are authorized to issue 250 million shares of preferred stock , none of which were issued or outstanding as of december 31 , 2009 . the numerator for both basic and diluted earnings per share is net earnings available to common stockholders . the denominator for basic earnings per share is the weighted average number of common shares outstanding during the period . the denominator for diluted earnings per share is weighted average shares outstanding adjusted for the effect of dilutive stock options and other equity awards . the following is a reconciliation of weighted average shares for the basic and diluted share computations for the years ending december 31 ( in millions ) : .
||2009|2008|2007|
|weighted average shares outstanding for basic net earnings per share|215.0|227.3|235.5|
|effect of dilutive stock options and other equity awards|0.8|1.0|2.0|
|weighted average shares outstanding for diluted net earnings per share|215.8|228.3|237.5|
weighted average shares outstanding for basic net earnings per share 215.0 227.3 235.5 effect of dilutive stock options and other equity awards 0.8 1.0 2.0 weighted average shares outstanding for diluted net earnings per share 215.8 228.3 237.5 for the year ended december 31 , 2009 , an average of 14.3 million options to purchase shares of common stock were not included in the computation of diluted earnings per share as the exercise prices of these options were greater than the average market price of the common stock . for the years ended december 31 , 2008 and 2007 , an average of 11.2 million and 3.1 million options , respectively , were not included . during 2009 , we repurchased approximately 19.8 million shares of our common stock at an average price of $ 46.56 per share for a total cash outlay of $ 923.7 million , including commissions . in april 2008 , we announced that our board of directors authorized a $ 1.25 billion share repurchase program which was originally set to expire on december 31 , 2009 . in september 2009 , the board of directors extended this program to december 31 , 2010 . approximately $ 211.1 million remains authorized for future repurchases under this plan . 15 . segment data we design , develop , manufacture and market orthopaedic reconstructive implants , dental implants , spinal implants , trauma products and related surgical products which include surgical supplies and instruments designed to aid in surgical procedures and post-operation rehabilitation . we also provide other healthcare-related services . revenue related to these services currently represents less than 1 percent of our total net sales . we manage operations through three major geographic segments 2013 the americas , which is comprised principally of the united states and includes other north , central and south american markets ; europe , which is comprised principally of europe and includes the middle east and africa ; and asia pacific , which is comprised primarily of japan and includes other asian and pacific markets . this structure is the basis for our reportable segment information discussed below . management evaluates reportable segment performance based upon segment operating profit exclusive of operating expenses pertaining to global operations and corporate expenses , share-based compensation expense , settlement , certain claims , acquisition , integration , realignment and other expenses , net curtailment and settlement , inventory step-up , in-process research and development write-offs and intangible asset amortization expense . global operations include research , development engineering , medical education , brand management , corporate legal , finance , and human resource functions and u.s . and puerto rico-based manufacturing operations and logistics . intercompany transactions have been eliminated from segment operating profit . management reviews accounts receivable , inventory , property , plant and equipment , goodwill and intangible assets by reportable segment exclusive of u.s . and puerto rico-based manufacturing operations and logistics and corporate assets . z i m m e r h o l d i n g s , i n c . 2 0 0 9 f o r m 1 0 - k a n n u a l r e p o r t notes to consolidated financial statements ( continued ) %%transmsg*** transmitting job : c55340 pcn : 060000000 ***%%pcmsg|60 |00007|yes|no|02/24/2010 01:32|0|0|page is valid , no graphics -- color : d| .
Question: what is the percent change in weighted average shares outstanding for basic net earnings per share between 2008 and 2009? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.20473 | Context:consolidated results of operations year ended december 31 , 2018 compared to year ended december 31 , 2017 net revenues increased $ 203.9 million , or 4.1% ( 4.1 % ) , to $ 5193.2 million in 2018 from $ 4989.2 million in 2017 . net revenues by product category are summarized below: .
|( in thousands )|year ended december 31 , 2018|year ended december 31 , 2017|year ended december 31 , $ change|year ended december 31 , % ( % ) change|
|apparel|$ 3462372|$ 3287121|$ 175251|5.3% ( 5.3 % )|
|footwear|1063175|1037840|25335|2.4|
|accessories|422496|445838|-23342 ( 23342 )|-5.2 ( 5.2 )|
|total net sales|4948043|4770799|177244|3.7|
|license|124785|116575|8210|7.0|
|connected fitness|120357|101870|18487|18.1|
|total net revenues|$ 5193185|$ 4989244|$ 203941|4.1% ( 4.1 % )|
the increase in net sales was driven primarily by : 2022 apparel unit sales growth driven by the train category ; and 2022 footwear unit sales growth , led by the run category . the increase was partially offset by unit sales decline in accessories . license revenues increased $ 8.2 million , or 7.0% ( 7.0 % ) , to $ 124.8 million in 2018 from $ 116.6 million in 2017 . connected fitness revenue increased $ 18.5 million , or 18.1% ( 18.1 % ) , to $ 120.4 million in 2018 from $ 101.9 million in 2017 primarily driven by increased subscribers on our fitness applications . gross profit increased $ 89.1 million to $ 2340.5 million in 2018 from $ 2251.4 million in 2017 . gross profit as a percentage of net revenues , or gross margin , was unchanged at 45.1% ( 45.1 % ) in 2018 compared to 2017 . gross profit percentage was favorably impacted by lower promotional activity , improvements in product cost , lower air freight , higher proportion of international and connected fitness revenue and changes in foreign currency ; these favorable impacts were offset by channel mix including higher sales to our off-price channel and restructuring related charges . with the exception of improvements in product input costs and air freight improvements , we do not expect these trends to have a material impact on the full year 2019 . selling , general and administrative expenses increased $ 82.8 million to $ 2182.3 million in 2018 from $ 2099.5 million in 2017 . as a percentage of net revenues , selling , general and administrative expenses decreased slightly to 42.0% ( 42.0 % ) in 2018 from 42.1% ( 42.1 % ) in 2017 . selling , general and administrative expense was impacted by the following : 2022 marketing costs decreased $ 21.3 million to $ 543.8 million in 2018 from $ 565.1 million in 2017 . this decrease was primarily due to restructuring efforts , resulting in lower compensation and contractual sports marketing . this decrease was partially offset by higher costs in connection with brand marketing campaigns and increased marketing investments with the growth of our international business . as a percentage of net revenues , marketing costs decreased to 10.5% ( 10.5 % ) in 2018 from 11.3% ( 11.3 % ) in 2017 . 2022 other costs increased $ 104.1 million to $ 1638.5 million in 2018 from $ 1534.4 million in 2017 . this increase was primarily due to higher incentive compensation expense and higher costs incurred for the continued expansion of our direct to consumer distribution channel and international business . as a percentage of net revenues , other costs increased to 31.6% ( 31.6 % ) in 2018 from 30.8% ( 30.8 % ) in 2017 . restructuring and impairment charges increased $ 59.1 million to $ 183.1 million from $ 124.0 million in 2017 . refer to the restructuring plans section above for a summary of charges . income ( loss ) from operations decreased $ 52.8 million , or 189.9% ( 189.9 % ) , to a loss of $ 25.0 million in 2018 from income of $ 27.8 million in 2017 . as a percentage of net revenues , income from operations decreased to a loss of 0.4% ( 0.4 % ) in 2018 from income of 0.5% ( 0.5 % ) in 2017 . income from operations for the year ended december 31 , 2018 was negatively impacted by $ 203.9 million of restructuring , impairment and related charges in connection with the 2018 restructuring plan . income from operations for the year ended december 31 , 2017 was negatively impacted by $ 129.1 million of restructuring , impairment and related charges in connection with the 2017 restructuring plan . interest expense , net decreased $ 0.9 million to $ 33.6 million in 2018 from $ 34.5 million in 2017. .
Question: what portion of the net revenue is generated by footwear segment in 2018? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
3200.0 | Context:organizational structure a key enabler of the republic way operating model is our organizational structure that fosters a high performance culture by maintaining 360-degree accountability and full profit and loss responsibility with local management , supported by a functional structure to provide subject matter expertise . this structure allows us to take advantage of our scale by coordinating functionally across all of our markets , while empowering local management to respond to unique market dynamics . our senior management evaluates , oversees and manages the financial performance of our operations through two field groups , referred to as group 1 and group 2 . group 1 primarily consists of geographic areas located in the western united states , and group 2 primarily consists of geographic areas located in the southeastern and mid-western united states , and the eastern seaboard of the united states . each field group is organized into several areas and each area contains multiple business units or operating locations . each of our field groups and all of our areas provide collection , transfer , recycling and landfill services . see note 14 , segment reporting , to our consolidated financial statements in item 8 of this form 10-k for further discussion of our operating segments . through this operating model , we have rolled out several productivity and cost control initiatives designed to deliver the best service possible to our customers in an efficient and environmentally sound way . fleet automation approximately 75% ( 75 % ) of our residential routes have been converted to automated single-driver trucks . by converting our residential routes to automated service , we reduce labor costs , improve driver productivity , decrease emissions and create a safer work environment for our employees . additionally , communities using automated vehicles have higher participation rates in recycling programs , thereby complementing our initiative to expand our recycling capabilities . fleet conversion to compressed natural gas ( cng ) approximately 20% ( 20 % ) of our fleet operates on natural gas . we expect to continue our gradual fleet conversion to cng as part of our ordinary annual fleet replacement process . we believe a gradual fleet conversion is the most prudent approach to realizing the full value of our previous fleet investments . approximately 13% ( 13 % ) of our replacement vehicle purchases during 2018 were cng vehicles . we believe using cng vehicles provides us a competitive advantage in communities with strict clean emission initiatives that focus on protecting the environment . although upfront capital costs are higher , using cng reduces our overall fleet operating costs through lower fuel expenses . as of december 31 , 2018 , we operated 37 cng fueling stations . standardized maintenance based on an industry trade publication , we operate the seventh largest vocational fleet in the united states . as of december 31 , 2018 , our average fleet age in years , by line of business , was as follows : approximate number of vehicles approximate average age .
||approximate number of vehicles|approximate average age|
|residential|7000|7.5|
|small-container|4700|7.0|
|large-container|4300|8.8|
|total|16000|7.7|
onefleet , our standardized vehicle maintenance program , enables us to use best practices for fleet management , truck care and maintenance . through standardization of core functions , we believe we can minimize variability .
Question: as part of the total fleet what is the approximate number of vehicles converted to cng | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.58537 | Context:entergy corporation and subsidiaries management's financial discussion and analysis the retail electric price variance resulted from rate increases primarily at entergy louisiana effective september 2006 for the 2005 formula rate plan filing to recover lpsc-approved incremental deferred and ongoing purchased power capacity costs . the formula rate plan filing is discussed in note 2 to the financial statements . the volume/weather variance resulted primarily from increased electricity usage in the residential and commercial sectors , including increased usage during the unbilled sales period . billed retail electricity usage increased by a total of 1591 gwh , an increase of 1.6% ( 1.6 % ) . see "critical accounting estimates" herein and note 1 to the financial statements for a discussion of the accounting for unbilled revenues . the fuel recovery variance is primarily due to the inclusion of grand gulf costs in entergy new orleans' fuel recoveries effective july 1 , 2006 . in june 2006 , the city council approved the recovery of grand gulf costs through the fuel adjustment clause , without a corresponding change in base rates ( a significant portion of grand gulf costs was previously recovered through base rates ) . the increase is also due to purchased power costs deferred at entergy louisiana and entergy new orleans as a result of the re-pricing , retroactive to 2003 , of purchased power agreements among entergy system companies as directed by the ferc . the transmission revenue variance is due to higher rates and the addition of new transmission customers in late-2006 . the purchased power capacity variance is due to higher capacity charges and new purchased power contracts that began in mid-2006 . a portion of the variance is due to the amortization of deferred capacity costs and is offset in base revenues due to base rate increases implemented to recover incremental deferred and ongoing purchased power capacity charges at entergy louisiana , as discussed above . the net wholesale revenue variance is due primarily to 1 ) more energy available for resale at entergy new orleans in 2006 due to the decrease in retail usage caused by customer losses following hurricane katrina and 2 ) the inclusion in 2006 revenue of sales into the wholesale market of entergy new orleans' share of the output of grand gulf , pursuant to city council approval of measures proposed by entergy new orleans to address the reduction in entergy new orleans' retail customer usage caused by hurricane katrina and to provide revenue support for the costs of entergy new orleans' share of grand gulf . the net wholesale revenue variance is partially offset by the effect of lower wholesale revenues in the third quarter 2006 due to an october 2006 ferc order requiring entergy arkansas to make a refund to a coal plant co-owner resulting from a contract dispute . non-utility nuclear following is an analysis of the change in net revenue comparing 2007 to 2006 . amount ( in millions ) .
||amount ( in millions )|
|2006 net revenue|$ 1388|
|realized price changes|264|
|palisades acquisition|209|
|volume variance ( other than palisades )|-56 ( 56 )|
|other|34|
|2007 net revenue|$ 1839|
as shown in the table above , net revenue increased for non-utility nuclear by $ 451 million , or 33% ( 33 % ) , for 2007 compared to 2006 primarily due to higher pricing in its contracts to sell power and additional production available resulting from the acquisition of the palisades plant in april 2007 . included in the palisades net revenue is $ 50 million of amortization of the palisades purchased power agreement in 2007 , which is non-cash revenue and is discussed in note 15 to the financial statements . the increase was partially offset by the effect on revenues of four .
Question: based on the analysis of the change in net revenue what was the percent of the annual change in net revenue sourced from realized price changes | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
2.0 | Context:visa indemnification our payment services business issues and acquires credit and debit card transactions through visa u.s.a . inc . card association or its affiliates ( visa ) . in october 2007 , visa completed a restructuring and issued shares of visa inc . common stock to its financial institution members ( visa reorganization ) in contemplation of its initial public offering ( ipo ) . as part of the visa reorganization , we received our proportionate share of class b visa inc . common stock allocated to the u.s . members . prior to the ipo , the u.s . members , which included pnc , were obligated to indemnify visa for judgments and settlements related to certain specified litigation . as a result of the acquisition of national city , we became party to judgment and loss sharing agreements with visa and certain other banks . the judgment and loss sharing agreements were designed to apportion financial responsibilities arising from any potential adverse judgment or negotiated settlements related to the specified litigation . in september 2014 , visa funded $ 450 million into its litigation escrow account and reduced the conversion rate of visa b to a shares . we continue to have an obligation to indemnify visa for judgments and settlements for the remaining specified litigation . recourse and repurchase obligations as discussed in note 2 loan sale and servicing activities and variable interest entities , pnc has sold commercial mortgage , residential mortgage and home equity loans/ lines of credit directly or indirectly through securitization and loan sale transactions in which we have continuing involvement . one form of continuing involvement includes certain recourse and loan repurchase obligations associated with the transferred assets . commercial mortgage loan recourse obligations we originate and service certain multi-family commercial mortgage loans which are sold to fnma under fnma 2019s delegated underwriting and servicing ( 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 , 2014 and december 31 , 2013 , the unpaid principal balance outstanding of loans sold as a participant in these programs was $ 12.3 billion and $ 11.7 billion , respectively . the potential maximum exposure under the loss share arrangements was $ 3.7 billion at december 31 , 2014 and $ 3.6 billion at december 31 , 2013 . we maintain a reserve for estimated losses based upon our exposure . the reserve for losses under these programs totaled $ 35 million and $ 33 million as of december 31 , 2014 and december 31 , 2013 , 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 . table 150 : analysis of commercial mortgage recourse obligations .
|in millions|2014|2013|
|january 1|$ 33|$ 43|
|reserve adjustments net|2|-9 ( 9 )|
|losses 2013 loan repurchases and settlements||-1 ( 1 )|
|december 31|$ 35|$ 33|
residential mortgage loan and home equity loan/ line of credit 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 . repurchase obligation activity associated with residential mortgages is reported in the residential mortgage banking segment . in the fourth quarter of 2013 , pnc reached agreements with both fnma and fhlmc to resolve their repurchase claims with respect to loans sold between 2000 and 2008 . pnc paid a total of $ 191 million related to these settlements . pnc 2019s repurchase obligations also include certain brokered home equity loans/lines of credit that were sold to a limited number of private investors in the financial services industry by national city prior to our acquisition of national city . 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 loans sold in these transactions . repurchase activity associated with brokered home equity loans/lines of credit is reported in the non-strategic assets portfolio segment . 214 the pnc financial services group , inc . 2013 form 10-k .
Question: what was the change in millions for commercial mortgage recourse obligations between december 31 2014 and 2013? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.68689 | Context:royal caribbean cruises ltd . 79 notes to the consolidated financial statements in 2012 , we determined the implied fair value of good- will for the pullmantur reporting unit was $ 145.5 mil- lion and recognized an impairment charge of $ 319.2 million based on a probability-weighted discounted cash flow model further discussed below . this impair- ment charge was recognized in earnings during the fourth quarter of 2012 and is reported within impair- ment of pullmantur related assets within our consoli- dated statements of comprehensive income ( loss ) . during the fourth quarter of 2014 , we performed a qualitative assessment of whether it was more-likely- than-not that our royal caribbean international reporting unit 2019s fair value was less than its carrying amount before applying the two-step goodwill impair- ment test . the qualitative analysis included assessing the impact of certain factors such as general economic conditions , limitations on accessing capital , changes in forecasted operating results , changes in fuel prices and fluctuations in foreign exchange rates . based on our qualitative assessment , we concluded that it was more-likely-than-not that the estimated fair value of the royal caribbean international reporting unit exceeded its carrying value and thus , we did not pro- ceed to the two-step goodwill impairment test . no indicators of impairment exist primarily because the reporting unit 2019s fair value has consistently exceeded its carrying value by a significant margin , its financial performance has been solid in the face of mixed economic environments and forecasts of operating results generated by the reporting unit appear suffi- cient to support its carrying value . we also performed our annual impairment review of goodwill for pullmantur 2019s reporting unit during the fourth quarter of 2014 . we did not perform a quali- tative assessment but instead proceeded directly to the two-step goodwill impairment test . we estimated the fair value of the pullmantur reporting unit using a probability-weighted discounted cash flow model . the principal assumptions used in the discounted cash flow model are projected operating results , weighted- average cost of capital , and terminal value . signifi- cantly impacting these assumptions are the transfer of vessels from our other cruise brands to pullmantur . the discounted cash flow model used our 2015 pro- jected operating results as a base . to that base , we added future years 2019 cash flows assuming multiple rev- enue and expense scenarios that reflect the impact of different global economic environments beyond 2015 on pullmantur 2019s reporting unit . we assigned a probability to each revenue and expense scenario . we discounted the projected cash flows using rates specific to pullmantur 2019s reporting unit based on its weighted-average cost of capital . based on the probability-weighted discounted cash flows , we deter- mined the fair value of the pullmantur reporting unit exceeded its carrying value by approximately 52% ( 52 % ) resulting in no impairment to pullmantur 2019s goodwill . pullmantur is a brand targeted primarily at the spanish , portuguese and latin american markets , with an increasing focus on latin america . the persistent economic instability in these markets has created sig- nificant uncertainties in forecasting operating results and future cash flows used in our impairment analyses . we continue to monitor economic events in these markets for their potential impact on pullmantur 2019s business and valuation . further , the estimation of fair value utilizing discounted expected future cash flows includes numerous uncertainties which require our significant judgment when making assumptions of expected revenues , operating costs , marketing , sell- ing and administrative expenses , interest rates , ship additions and retirements as well as assumptions regarding the cruise vacation industry 2019s competitive environment and general economic and business conditions , among other factors . if there are changes to the projected future cash flows used in the impairment analyses , especially in net yields or if certain transfers of vessels from our other cruise brands to the pullmantur fleet do not take place , it is possible that an impairment charge of pullmantur 2019s reporting unit 2019s goodwill may be required . of these factors , the planned transfers of vessels to the pullmantur fleet is most significant to the projected future cash flows . if the transfers do not occur , we will likely fail step one of the impairment test . note 4 . intangible assets intangible assets are reported in other assets in our consolidated balance sheets and consist of the follow- ing ( in thousands ) : .
||2014|2013|
|indefinite-life intangible asset 2014pullmantur trademarks and trade names|$ 214112|$ 204866|
|foreign currency translation adjustment|-26074 ( 26074 )|9246|
|total|$ 188038|$ 214112|
during the fourth quarter of 2014 , 2013 and 2012 , we performed the annual impairment review of pullmantur 2019s trademarks and trade names using a discounted cash flow model and the relief-from-royalty method to compare the fair value of these indefinite-lived intan- gible assets to its carrying value . the royalty rate used is based on comparable royalty agreements in the tourism and hospitality industry . we used a dis- count rate comparable to the rate used in valuing the pullmantur reporting unit in our goodwill impairment test . based on the results of our testing , we did not .
Question: in 2012 what was the percentage recognized impairment charge of | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
64.0 | Context:jpmorgan chase & co./2014 annual report 291 therefore , are not recorded on the consolidated balance sheets until settlement date . the unsettled reverse repurchase agreements and securities borrowing agreements predominantly consist of agreements with regular-way settlement periods . loan sales- and securitization-related indemnifications mortgage repurchase liability in connection with the firm 2019s mortgage loan sale and securitization activities with the gses , as described in note 16 , the firm has made representations and warranties that the loans sold meet certain requirements . the firm has been , and may be , required to repurchase loans and/or indemnify the gses ( e.g. , with 201cmake-whole 201d payments to reimburse the gses for their realized losses on liquidated loans ) . to the extent that repurchase demands that are received relate to loans that the firm purchased from third parties that remain viable , the firm typically will have the right to seek a recovery of related repurchase losses from the third party . generally , the maximum amount of future payments the firm would be required to make for breaches of these representations and warranties would be equal to the unpaid principal balance of such loans that are deemed to have defects that were sold to purchasers ( including securitization-related spes ) plus , in certain circumstances , accrued interest on such loans and certain expense . the following table summarizes the change in the mortgage repurchase liability for each of the periods presented . summary of changes in mortgage repurchase liability ( a ) year ended december 31 , ( in millions ) 2014 2013 2012 repurchase liability at beginning of period $ 681 $ 2811 $ 3557 net realized gains/ ( losses ) ( b ) 53 ( 1561 ) ( 1158 ) .
|year ended december 31 ( in millions )|2014|2013|2012|
|repurchase liability at beginning of period|$ 681|$ 2811|$ 3557|
|net realized gains/ ( losses ) ( b )|53|-1561 ( 1561 )|-1158 ( 1158 )|
|reclassification to litigation reserve|2014|-179 ( 179 )|2014|
|( benefit ) /provision for repurchase ( c )|-459 ( 459 )|-390 ( 390 )|412|
|repurchase liability at end of period|$ 275|$ 681|$ 2811|
( benefit ) /provision for repurchase ( c ) ( 459 ) ( 390 ) 412 repurchase liability at end of period $ 275 $ 681 $ 2811 ( a ) on october 25 , 2013 , the firm announced that it had reached a $ 1.1 billion agreement with the fhfa to resolve , other than certain limited types of exposures , outstanding and future mortgage repurchase demands associated with loans sold to the gses from 2000 to 2008 . ( b ) presented net of third-party recoveries and included principal losses and accrued interest on repurchased loans , 201cmake-whole 201d settlements , settlements with claimants , and certain related expense . make-whole settlements were $ 11 million , $ 414 million and $ 524 million , for the years ended december 31 , 2014 , 2013 and 2012 , respectively . ( c ) included a provision related to new loan sales of $ 4 million , $ 20 million and $ 112 million , for the years ended december 31 , 2014 , 2013 and 2012 , respectively . private label securitizations the liability related to repurchase demands associated with private label securitizations is separately evaluated by the firm in establishing its litigation reserves . on november 15 , 2013 , the firm announced that it had reached a $ 4.5 billion agreement with 21 major institutional investors to make a binding offer to the trustees of 330 residential mortgage-backed securities trusts issued by j.p.morgan , chase , and bear stearns ( 201crmbs trust settlement 201d ) to resolve all representation and warranty claims , as well as all servicing claims , on all trusts issued by j.p . morgan , chase , and bear stearns between 2005 and 2008 . the seven trustees ( or separate and successor trustees ) for this group of 330 trusts have accepted the rmbs trust settlement for 319 trusts in whole or in part and excluded from the settlement 16 trusts in whole or in part . the trustees 2019 acceptance is subject to a judicial approval proceeding initiated by the trustees , which is pending in new york state court . in addition , from 2005 to 2008 , washington mutual made certain loan level representations and warranties in connection with approximately $ 165 billion of residential mortgage loans that were originally sold or deposited into private-label securitizations by washington mutual . of the $ 165 billion , approximately $ 78 billion has been repaid . in addition , approximately $ 49 billion of the principal amount of such loans has liquidated with an average loss severity of 59% ( 59 % ) . accordingly , the remaining outstanding principal balance of these loans as of december 31 , 2014 , was approximately $ 38 billion , of which $ 8 billion was 60 days or more past due . the firm believes that any repurchase obligations related to these loans remain with the fdic receivership . for additional information regarding litigation , see note 31 . loans sold with recourse the firm provides servicing for mortgages and certain commercial lending products on both a recourse and nonrecourse basis . in nonrecourse servicing , the principal credit risk to the firm is the cost of temporary servicing advances of funds ( i.e. , normal servicing advances ) . in recourse servicing , the servicer agrees to share credit risk with the owner of the mortgage loans , such as fannie mae or freddie mac or a private investor , insurer or guarantor . losses on recourse servicing predominantly occur when foreclosure sales proceeds of the property underlying a defaulted loan are less than the sum of the outstanding principal balance , plus accrued interest on the loan and the cost of holding and disposing of the underlying property . the firm 2019s securitizations are predominantly nonrecourse , thereby effectively transferring the risk of future credit losses to the purchaser of the mortgage-backed securities issued by the trust . at december 31 , 2014 and 2013 , the unpaid principal balance of loans sold with recourse totaled $ 6.1 billion and $ 7.7 billion , respectively . the carrying value of the related liability that the firm has recorded , which is representative of the firm 2019s view of the likelihood it .
Question: what were gross realized gains for 2014 without the make whole settlement netting? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
355.30057 | Context:$ 15 million for fire control programs due to increased deliveries ( primarily apache ) , partially offset by lower risk retirements ( primarily sniper ae ) . adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 95 million lower for 2014 compared to 2013 . backlog backlog increased in 2015 compared to 2014 primarily due to higher orders on pac-3 , lantirn/sniper and certain tactical missile programs , partially offset by lower orders on thaad . backlog decreased in 2014 compared to 2013 primarily due to lower orders on thaad and fire control systems programs , partially offset by higher orders on certain tactical missile programs and pac-3 . trends we expect mfc 2019s net sales to be flat or experience a slight decline in 2016 as compared to 2015 . operating profit is expected to decrease by approximately 20 percent , driven by contract mix and fewer risk retirements in 2016 compared to 2015 . accordingly , operating profit margin is expected to decline from 2015 levels . mission systems and training as previously described , on november 6 , 2015 , we acquired sikorsky and aligned the sikorsky business under our mst business segment . the results of the acquired sikorsky business have been included in our financial results from the november 6 , 2015 acquisition date through december 31 , 2015 . as a result , our consolidated operating results and mst business segment operating results for the year ended december 31 , 2015 do not reflect a full year of sikorsky operations . our mst business segment provides design , manufacture , service and support for a variety of military and civil helicopters , ship and submarine mission and combat systems ; mission systems and sensors for rotary and fixed-wing aircraft ; sea and land-based missile defense systems ; radar systems ; the littoral combat ship ( lcs ) ; simulation and training services ; and unmanned systems and technologies . in addition , mst supports the needs of customers in cybersecurity and delivers communication and command and control capabilities through complex mission solutions for defense applications . mst 2019s major programs include black hawk and seahawk helicopters , aegis combat system ( aegis ) , lcs , space fence , advanced hawkeye radar system , and tpq-53 radar system . mst 2019s operating results included the following ( in millions ) : .
||2015|2014|2013|
|net sales|$ 9091|$ 8732|$ 9037|
|operating profit|844|936|1065|
|operating margins|9.3% ( 9.3 % )|10.7% ( 10.7 % )|11.8% ( 11.8 % )|
|backlog at year-end|$ 30100|$ 13300|$ 12600|
2015 compared to 2014 mst 2019s net sales in 2015 increased $ 359 million , or 4% ( 4 % ) , compared to 2014 . the increase was attributable to net sales of approximately $ 400 million from sikorsky , net of adjustments required to account for the acquisition of this business in the fourth quarter of 2015 ; and approximately $ 220 million for integrated warfare systems and sensors programs , primarily due to the ramp-up of recently awarded programs ( space fence ) . these increases were partially offset by lower net sales of approximately $ 150 million for undersea systems programs due to decreased volume as a result of in-theater force reductions ( primarily persistent threat detection system ) ; and approximately $ 105 million for ship and aviation systems programs primarily due to decreased volume ( merlin capability sustainment program ) . mst 2019s operating profit in 2015 decreased $ 92 million , or 10% ( 10 % ) , compared to 2014 . operating profit decreased by approximately $ 75 million due to performance matters on an international program ; approximately $ 45 million for sikorsky due primarily to intangible amortization and adjustments required to account for the acquisition of this business in the fourth quarter of 2015 ; and approximately $ 15 million for integrated warfare systems and sensors programs , primarily due to investments made in connection with a recently awarded next generation radar technology program , partially offset by higher risk retirements ( including halifax class modernization ) . these decreases were partially offset by approximately $ 20 million in increased operating profit for training and logistics services programs , primarily due to reserves recorded on certain programs in 2014 that were not repeated in 2015 . adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 100 million lower in 2015 compared to 2014. .
Question: what was the average operating profit for mst from 2013 to 2015 | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.11621 | Context:entergy arkansas , inc . and subsidiaries management 2019s financial discussion and analysis results of operations net income 2016 compared to 2015 net income increased $ 92.9 million primarily due to higher net revenue and lower other operation and maintenance expenses , partially offset by a higher effective income tax rate and higher depreciation and amortization expenses . 2015 compared to 2014 net income decreased $ 47.1 million primarily due to higher other operation and maintenance expenses , partially offset by higher net revenue . net revenue 2016 compared to 2015 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges ( credits ) . following is an analysis of the change in net revenue comparing 2016 to 2015 . amount ( in millions ) .
||amount ( in millions )|
|2015 net revenue|$ 1362.2|
|retail electric price|161.5|
|other|-3.2 ( 3.2 )|
|2016 net revenue|$ 1520.5|
the retail electric price variance is primarily due to an increase in base rates , as approved by the apsc . the new base rates were effective february 24 , 2016 and began billing with the first billing cycle of april 2016 . the increase includes an interim base rate adjustment surcharge , effective with the first billing cycle of april 2016 , to recover the incremental revenue requirement for the period february 24 , 2016 through march 31 , 2016 . a significant portion of the increase is related to the purchase of power block 2 of the union power station . see note 2 to the financial statements for further discussion of the rate case . see note 14 to the financial statements for further discussion of the union power station purchase. .
Question: what is the growth rate in net revenue in 2016 for entergy arkansas , 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: |
7.77 | Context:( 5 ) we occupy approximately 350000 square feet of the one north end building . ( 6 ) this property is owned by board of trade investment company ( botic ) . kcbt maintains a 51% ( 51 % ) controlling interest in botic . we also lease other office space around the world and have also partnered with major global telecommunications carriers in connection with our telecommunications hubs whereby we place data cabinets within the carriers 2019 existing secured data centers . we believe our facilities are adequate for our current operations and that additional space can be obtained if needed . item 3 . legal proceedings see 201clegal and regulatory matters 201d in note 14 . contingencies to the consolidated financial statements beginning on page 91 for cme group 2019s legal proceedings disclosure which is incorporated herein by reference . item 4 . mine safety disclosures not applicable . part ii item 5 . market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities class a common stock our class a common stock is currently listed on nasdaq under the ticker symbol 201ccme . 201d as of february 13 , 2013 , there were approximately 3106 holders of record of our class a common stock . in may 2012 , the company 2019s board of directors declared a five-for-one split of its class a common stock effected by way of a stock dividend to its class a and class b shareholders . the stock split was effective july 20 , 2012 for all shareholders of record on july 10 , 2012 . as a result of the stock split , all amounts related to shares and per share amounts have been retroactively restated . the following table sets forth the high and low sales prices per share of our class a common stock on a quarterly basis , as reported on nasdaq. .
|2012 first quarter|high $ 59.73|low $ 45.20|2011 first quarter|high $ 63.40|low $ 56.06|
|second quarter|58.24|50.70|second quarter|62.15|52.45|
|third quarter|59.35|49.83|third quarter|59.80|47.43|
|fourth quarter|57.89|50.12|fourth quarter|59.73|45.20|
class b common stock our class b common stock is not listed on a national securities exchange or traded in an organized over- the-counter market . each class of our class b common stock is associated with a membership in a specific division of our cme exchange . cme 2019s rules provide exchange members with trading rights and the ability to use or lease these trading rights . each share of our class b common stock can be transferred only in connection with the transfer of the associated trading rights. .
Question: what is the maximum change in share price during the fourth quarter of 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: |
4.23288 | Context:table of contents item 2 . properties . the following table summarizes the facilities we lease as of december 31 , 2017 , including the location and size of each principal facility , and their designated use . we believe our facilities are adequate for our current and near-term needs , and will be able to locate additional facilities as needed . location approximate square feet operation expiration dates .
|location|approximate square feet|operation|leaseexpiration dates|
|san diego ca|1218000|r&d manufacturing warehouse distribution and administrative|2018 2013 2031|
|san francisco bay area ca|616000|r&d manufacturing warehouse and administrative|2018 2013 2025|
|singapore|395000|r&d manufacturing warehouse distribution and administrative|2018 2013 2025|
|cambridge united kingdom*|92000|r&d manufacturing and administrative|2020 2013 2024|
|eindhoven the netherlands|42000|distribution and administrative|2020|
|madison wi*|73000|r&d manufacturing warehouse distribution and administrative|2018 2013 2019|
|other*|78000|administrative|2018 2013 2022|
________________ *excludes approximately 309000 square feet for which the leases do not commence until 2018 and beyond . item 3 . legal proceedings . we are involved in various lawsuits and claims arising in the ordinary course of business , including actions with respect to intellectual property , employment , and contractual matters . in connection with these matters , we assess , on a regular basis , the probability and range of possible loss based on the developments in these matters . a liability is recorded in the financial statements if it is believed to be probable that a loss has been incurred and the amount of the loss can be reasonably estimated . because litigation is inherently unpredictable and unfavorable results could occur , assessing contingencies is highly subjective and requires judgments about future events . we regularly review outstanding legal matters to determine the adequacy of the liabilities accrued and related disclosures . the amount of ultimate loss may differ from these estimates . each matter presents its own unique circumstances , and prior litigation does not necessarily provide a reliable basis on which to predict the outcome , or range of outcomes , in any individual proceeding . because of the uncertainties related to the occurrence , amount , and range of loss on any pending litigation or claim , we are currently unable to predict their ultimate outcome , and , with respect to any pending litigation or claim where no liability has been accrued , to make a meaningful estimate of the reasonably possible loss or range of loss that could result from an unfavorable outcome . in the event opposing litigants in outstanding litigations or claims ultimately succeed at trial and any subsequent appeals on their claims , any potential loss or charges in excess of any established accruals , individually or in the aggregate , could have a material adverse effect on our business , financial condition , results of operations , and/or cash flows in the period in which the unfavorable outcome occurs or becomes probable , and potentially in future periods . item 4 . mine safety disclosures . not applicable. .
Question: in madison wi what was the ratio of the square feet excluded for which the leases do not commence until 2018 as of december 31 , 2017 | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.10941 | Context:item 15 . exhibits , financial statement schedules . ( continued ) kinder morgan , inc . form 10-k .
|kinder morgan liquids terminals llc-n.j . development revenue bonds due january 15 2018 kinder morgan columbus llc-5.50% ( llc-5.50 % ) ms development revenue note due september 1 2022|25.0 8.2|25.0 8.2|
|kinder morgan operating l.p . 201cb 201d-jackson-union cos . il revenue bonds due april 1 2024|23.7|23.7|
|international marine terminals-plaquemines la revenue bonds due march 15 2025|40.0|40.0|
|other miscellaneous subsidiary debt|1.3|1.3|
|unamortized debt discount on long-term debt|-20.3 ( 20.3 )|-21.2 ( 21.2 )|
|current maturities of long-term debt|-1263.3 ( 1263.3 )|-596.6 ( 596.6 )|
|total long-term debt 2013 kmp|$ 10282.8|$ 10007.5|
____________ ( a ) as a result of the implementation of asu 2009-17 , effective january 1 , 2010 , we ( i ) include the transactions and balances of our business trust , k n capital trust i and k n capital trust iii , in our consolidated financial statements and ( ii ) no longer include our junior subordinated deferrable interest debentures issued to the capital trusts ( see note 18 201crecent accounting pronouncements 201d ) . ( b ) kmp issued its $ 500 million in principal amount of 9.00% ( 9.00 % ) senior notes due february 1 , 2019 in december 2008 . each holder of the notes has the right to require kmp to repurchase all or a portion of the notes owned by such holder on february 1 , 2012 at a purchase price equal to 100% ( 100 % ) of the principal amount of the notes tendered by the holder plus accrued and unpaid interest to , but excluding , the repurchase date . on and after february 1 , 2012 , interest will cease to accrue on the notes tendered for repayment . a holder 2019s exercise of the repurchase option is irrevocable . kinder morgan kansas , inc . the 2028 and 2098 debentures and the 2012 and 2015 senior notes are redeemable in whole or in part , at kinder morgan kansas , inc . 2019s option at any time , at redemption prices defined in the associated prospectus supplements . the 2027 debentures are redeemable in whole or in part , at kinder morgan kansas , inc . 2019s option after november 1 , 2004 at redemption prices defined in the associated prospectus supplements . on september 2 , 2010 , kinder morgan kansas , inc . paid the remaining $ 1.1 million principal balance outstanding on kinder morgan kansas , inc . 2019s 6.50% ( 6.50 % ) series debentures , due 2013 . kinder morgan finance company , llc on december 20 , 2010 , kinder morgan finance company , llc , a wholly owned subsidiary of kinder morgan kansas , inc. , completed a public offering of senior notes . it issued a total of $ 750 million in principal amount of 6.00% ( 6.00 % ) senior notes due january 15 , 2018 . net proceeds received from the issuance of the notes , after underwriting discounts and commissions , were $ 744.2 million , which were used to retire the principal amount of the 5.35% ( 5.35 % ) senior notes that matured on january 5 , 2011 . the 2011 , 2016 , 2018 and 2036 senior notes issued by kinder morgan finance company , llc are redeemable in whole or in part , at kinder morgan kansas , inc . 2019s option at any time , at redemption prices defined in the associated prospectus supplements . each series of these notes is fully and unconditionally guaranteed by kinder morgan kansas , inc . on a senior unsecured basis as to principal , interest and any additional amounts required to be paid as a result of any withholding or deduction for canadian taxes . capital trust securities kinder morgan kansas , inc . 2019s business trusts , k n capital trust i and k n capital trust iii , are obligated for $ 12.7 million of 8.56% ( 8.56 % ) capital trust securities maturing on april 15 , 2027 and $ 14.4 million of 7.63% ( 7.63 % ) capital trust securities maturing on april 15 , 2028 , respectively , which it guarantees . the 2028 securities are redeemable in whole or in part , at kinder morgan kansas , inc . 2019s option at any time , at redemption prices as defined in the associated prospectus . the 2027 securities are redeemable in whole or in part at kinder morgan kansas , inc . 2019s option and at any time in certain limited circumstances upon the occurrence of certain events and at prices , all defined in the associated prospectus supplements . upon redemption by kinder morgan kansas , inc . or at maturity of the junior subordinated deferrable interest debentures , it must use the proceeds to make redemptions of the capital trust securities on a pro rata basis. .
Question: what percent of total long-term debt 2013 kmp after the implementation of asu 2009-17 is current maturities? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.30769 | Context:the impairment tests performed for intangible assets as of july 31 , 2013 , 2012 and 2011 indicated no impairment charges were required . estimated amortization expense for finite-lived intangible assets for each of the five succeeding years is as follows : ( in millions ) .
|year|amount|
|2014|$ 156|
|2015|126|
|2016|91|
|2017|74|
|2018|24|
indefinite-lived acquired management contracts in july 2013 , in connection with the credit suisse etf transaction , the company acquired $ 231 million of indefinite-lived management contracts . in march 2012 , in connection with the claymore transaction , the company acquired $ 163 million of indefinite-lived etp management contracts . finite-lived acquired management contracts in october 2013 , in connection with the mgpa transaction , the company acquired $ 29 million of finite-lived management contracts with a weighted-average estimated useful life of approximately eight years . in september 2012 , in connection with the srpep transaction , the company acquired $ 40 million of finite- lived management contracts with a weighted-average estimated useful life of approximately 10 years . 11 . other assets at march 31 , 2013 , blackrock held an approximately one- third economic equity interest in private national mortgage acceptance company , llc ( 201cpnmac 201d ) , which is accounted for as an equity method investment and is included in other assets on the consolidated statements of financial condition . on may 8 , 2013 , pennymac became the sole managing member of pnmac in connection with an initial public offering of pennymac ( the 201cpennymac ipo 201d ) . as a result of the pennymac ipo , blackrock recorded a noncash , nonoperating pre-tax gain of $ 39 million related to the carrying value of its equity method investment . subsequent to the pennymac ipo , the company contributed 6.1 million units of its investment to a new donor advised fund ( the 201ccharitable contribution 201d ) . the fair value of the charitable contribution was $ 124 million and is included in general and administration expenses on the consolidated statements of income . in connection with the charitable contribution , the company also recorded a noncash , nonoperating pre-tax gain of $ 80 million related to the contributed investment and a tax benefit of approximately $ 48 million . the carrying value and fair value of the company 2019s remaining interest ( approximately 20% ( 20 % ) or 16 million shares and units ) was approximately $ 127 million and $ 273 million , respectively , at december 31 , 2013 . the fair value of the company 2019s interest reflected the pennymac stock price at december 31 , 2013 ( level 1 input ) . 12 . borrowings short-term borrowings the carrying value of short-term borrowings at december 31 , 2012 included $ 100 million under the 2012 revolving credit facility . 2013 revolving credit facility . in march 2011 , the company entered into a five-year $ 3.5 billion unsecured revolving credit facility ( the 201c2011 credit facility 201d ) . in march 2012 , the 2011 credit facility was amended to extend the maturity date by one year to march 2017 and in april 2012 the amount of the aggregate commitment was increased to $ 3.785 billion ( the 201c2012 credit facility 201d ) . in march 2013 , the company 2019s credit facility was amended to extend the maturity date by one year to march 2018 and the amount of the aggregate commitment was increased to $ 3.990 billion ( the 201c2013 credit facility 201d ) . the 2013 credit facility permits the company to request up to an additional $ 1.0 billion of borrowing capacity , subject to lender credit approval , increasing the overall size of the 2013 credit facility to an aggregate principal amount not to exceed $ 4.990 billion . interest on borrowings outstanding accrues at a rate based on the applicable london interbank offered rate plus a spread . the 2013 credit facility requires the company not to exceed a maximum leverage ratio ( ratio of net debt to earnings before interest , taxes , depreciation and amortization , where net debt equals total debt less unrestricted cash ) of 3 to 1 , which was satisfied with a ratio of less than 1 to 1 at december 31 , 2013 . the 2013 credit facility provides back- up liquidity , funds ongoing working capital for general corporate purposes and funds various investment opportunities . at december 31 , 2013 , the company had no amount outstanding under the 2013 credit facility . commercial paper program . on october 14 , 2009 , blackrock established a commercial paper program ( the 201ccp program 201d ) under which the company could issue unsecured commercial paper notes ( the 201ccp notes 201d ) on a private placement basis up to a maximum aggregate amount outstanding at any time of $ 3.0 billion . on may 13 , 2011 , blackrock increased the maximum aggregate amount that may be borrowed under the cp program to $ 3.5 billion . on may 17 , 2012 , blackrock increased the maximum aggregate amount to $ 3.785 billion . in april 2013 , blackrock increased the maximum aggregate amount for which the company could issue unsecured cp notes on a private-placement basis up to a maximum aggregate amount outstanding at any time of $ 3.990 billion . the commercial paper program is currently supported by the 2013 credit facility . at december 31 , 2013 and 2012 , blackrock had no cp notes outstanding. .
Question: what is the tax benefit in connection with the charitable contribution as a percentage of the estimated amortization expense for finite-lived intangible assets in 2014? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
Subsets and Splits