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0.27737 | 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: what percentage of refined product sales consisted of distillates in 2008? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.30516 | 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 percentage change in the carrying amount reported on the consolidate balance sheet from 2017 to 2018? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.01925 | Context:2022 triggering our obligation to make payments under any financial guarantee , letter of credit or other credit support we have provided to or on behalf of such subsidiary ; 2022 causing us to record a loss in the event the lender forecloses on the assets ; and 2022 triggering defaults in our outstanding debt at the parent company . for example , our senior secured credit facility and outstanding debt securities at the parent company include events of default for certain bankruptcy related events involving material subsidiaries . in addition , our revolving credit agreement at the parent company includes events of default related to payment defaults and accelerations of outstanding debt of material subsidiaries . some of our subsidiaries are currently in default with respect to all or a portion of their outstanding indebtedness . the total non-recourse debt classified as current in the accompanying consolidated balance sheets amounts to $ 2.2 billion . the portion of current debt related to such defaults was $ 1 billion at december 31 , 2017 , all of which was non-recourse debt related to three subsidiaries 2014 alto maipo , aes puerto rico , and aes ilumina . see note 10 2014debt in item 8 . 2014financial statements and supplementary data of this form 10-k for additional detail . none of the subsidiaries that are currently in default are subsidiaries that met the applicable definition of materiality under aes' corporate debt agreements as of december 31 , 2017 in order for such defaults to trigger an event of default or permit acceleration under aes' indebtedness . however , as a result of additional dispositions of assets , other significant reductions in asset carrying values or other matters in the future that may impact our financial position and results of operations or the financial position of the individual subsidiary , it is possible that one or more of these subsidiaries could fall within the definition of a "material subsidiary" and thereby upon an acceleration trigger an event of default and possible acceleration of the indebtedness under the parent company's outstanding debt securities . a material subsidiary is defined in the company's senior secured revolving credit facility as any business that contributed 20% ( 20 % ) or more of the parent company's total cash distributions from businesses for the four most recently completed fiscal quarters . as of december 31 , 2017 , none of the defaults listed above individually or in the aggregate results in or is at risk of triggering a cross-default under the recourse debt of the company . contractual obligations and parent company contingent contractual obligations a summary of our contractual obligations , commitments and other liabilities as of december 31 , 2017 is presented below and excludes any businesses classified as discontinued operations or held-for-sale ( in millions ) : contractual obligations total less than 1 year more than 5 years other footnote reference ( 4 ) debt obligations ( 1 ) $ 20404 $ 2250 $ 2431 $ 5003 $ 10720 $ 2014 10 interest payments on long-term debt ( 2 ) 9103 1172 2166 1719 4046 2014 n/a .
|contractual obligations|total|less than 1 year|1-3 years|3-5 years|more than 5 years|other|footnote reference ( 4 )|
|debt obligations ( 1 )|$ 20404|$ 2250|$ 2431|$ 5003|$ 10720|$ 2014|10|
|interest payments on long-term debt ( 2 )|9103|1172|2166|1719|4046|2014|n/a|
|capital lease obligations|18|2|2|2|12|2014|11|
|operating lease obligations|935|58|116|117|644|2014|11|
|electricity obligations|4501|581|948|907|2065|2014|11|
|fuel obligations|5859|1759|1642|992|1466|2014|11|
|other purchase obligations|4984|1488|1401|781|1314|2014|11|
|other long-term liabilities reflected on aes' consolidated balance sheet under gaap ( 3 )|701|2014|284|118|277|22|n/a|
|total|$ 46505|$ 7310|$ 8990|$ 9639|$ 20544|$ 22||
_____________________________ ( 1 ) includes recourse and non-recourse debt presented on the consolidated balance sheet . these amounts exclude capital lease obligations which are included in the capital lease category . ( 2 ) interest payments are estimated based on final maturity dates of debt securities outstanding at december 31 , 2017 and do not reflect anticipated future refinancing , early redemptions or new debt issuances . variable rate interest obligations are estimated based on rates as of december 31 , 2017 . ( 3 ) these amounts do not include current liabilities on the consolidated balance sheet except for the current portion of uncertain tax obligations . noncurrent uncertain tax obligations are reflected in the "other" column of the table above as the company is not able to reasonably estimate the timing of the future payments . in addition , these amounts do not include : ( 1 ) regulatory liabilities ( see note 9 2014regulatory assets and liabilities ) , ( 2 ) contingencies ( see note 12 2014contingencies ) , ( 3 ) pension and other postretirement employee benefit liabilities ( see note 13 2014benefit plans ) , ( 4 ) derivatives and incentive compensation ( see note 5 2014derivative instruments and hedging activities ) or ( 5 ) any taxes ( see note 20 2014income taxes ) except for uncertain tax obligations , as the company is not able to reasonably estimate the timing of future payments . see the indicated notes to the consolidated financial statements included in item 8 of this form 10-k for additional information on the items excluded . ( 4 ) for further information see the note referenced below in item 8 . 2014financial statements and supplementary data of this form 10-k. .
Question: total capital lease obligations are what percent of operating lease 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: |
0.4744 | Context:edwards lifesciences corporation notes to consolidated financial statements 2014 ( continued ) as of december 31 , 2004 , the company has approximately $ 64.6 million of non-united states tax net operating losses and $ 1.0 million of non-united states , non-expiring tax credits that are available for carryforward . net operating loss carryforwards , and the related carryforward periods , at december 31 , 2004 are summarized as follows ( in millions ) : gross net tax benefit carryforward operating loss amount period ends non-united states net operating loss****************** $ 35.3 $ 9.2 2005 20132014 non-united states net operating loss****************** 29.3 13.9 indefinite total ******************************************** $ 64.6 $ 23.1 a valuation allowance of $ 6.8 million has been provided for certain of the above carryforwards . this valuation allowance reduces the deferred tax asset of $ 23.1 million to an amount that is more likely than not to be realized . the company 2019s income tax returns in several locations are being examined by the local taxation authorities . management believes that adequate amounts of tax and related interest , if any , have been provided for any adjustments that may result from these examinations . 17 . legal proceedings on june 29 , 2000 , edwards lifesciences filed a lawsuit against st . jude medical , inc . alleging infringement of several edwards lifesciences united states patents . this lawsuit was filed in the united states district court for the central district of california , seeking monetary damages and injunctive relief . pursuant to the terms of a january 7 , 2005 settlement agreement , edwards lifesciences was paid $ 5.5 million by st . jude , edwards lifesciences granted st . jude a paid-up license for certain of its heart valve therapy products and the lawsuit was dismissed . the settlement will not have a material financial impact on the company . on august 18 , 2003 , edwards lifesciences filed a lawsuit against medtronic , inc. , medtronic ave , cook , inc . and w.l . gore & associates alleging infringement of a patent exclusively licensed to the company . the lawsuit was filed in the united states district court for the northern district of california , seeking monetary damages and injunctive relief . on september 2 , 2003 , a second patent exclusively licensed to the company was added to the lawsuit . each of the defendants has answered and asserted various affirmative defenses and counterclaims . discovery is proceeding . in addition , edwards lifesciences is or may be a party to , or may be otherwise responsible for , pending or threatened lawsuits related primarily to products and services currently or formerly manufactured or performed , as applicable , by edwards lifesciences . such cases and claims raise difficult and complex factual and legal issues and are subject to many uncertainties and complexities , including , but not limited to , the facts and circumstances of each particular case or claim , the jurisdiction in which each suit is brought , and differences in applicable law . upon resolution of any pending legal matters , edwards lifesciences may incur charges in excess of presently established reserves . while any such charge could have a material adverse impact on edwards lifesciences 2019 net income or cash flows in the period in which it is recorded or paid , management does not believe that any such charge would have a material adverse effect on edwards lifesciences 2019 financial position , results of operations or liquidity . edwards lifesciences is also subject to various environmental laws and regulations both within and outside of the united states . the operations of edwards lifesciences , like those of other medical device companies , involve the use of substances regulated under environmental laws , primarily in manufacturing and sterilization processes . while it is difficult to quantify the potential impact of compliance with environmental protection laws .
||gross net operating loss|tax benefit amount|carryforward period ends|
|non-united states net operating loss|$ 35.3|$ 9.2|2005 20132014|
|non-united states net operating loss|29.3|13.9|indefinite|
|total|$ 64.6|$ 23.1||
edwards lifesciences corporation notes to consolidated financial statements 2014 ( continued ) as of december 31 , 2004 , the company has approximately $ 64.6 million of non-united states tax net operating losses and $ 1.0 million of non-united states , non-expiring tax credits that are available for carryforward . net operating loss carryforwards , and the related carryforward periods , at december 31 , 2004 are summarized as follows ( in millions ) : gross net tax benefit carryforward operating loss amount period ends non-united states net operating loss****************** $ 35.3 $ 9.2 2005 20132014 non-united states net operating loss****************** 29.3 13.9 indefinite total ******************************************** $ 64.6 $ 23.1 a valuation allowance of $ 6.8 million has been provided for certain of the above carryforwards . this valuation allowance reduces the deferred tax asset of $ 23.1 million to an amount that is more likely than not to be realized . the company 2019s income tax returns in several locations are being examined by the local taxation authorities . management believes that adequate amounts of tax and related interest , if any , have been provided for any adjustments that may result from these examinations . 17 . legal proceedings on june 29 , 2000 , edwards lifesciences filed a lawsuit against st . jude medical , inc . alleging infringement of several edwards lifesciences united states patents . this lawsuit was filed in the united states district court for the central district of california , seeking monetary damages and injunctive relief . pursuant to the terms of a january 7 , 2005 settlement agreement , edwards lifesciences was paid $ 5.5 million by st . jude , edwards lifesciences granted st . jude a paid-up license for certain of its heart valve therapy products and the lawsuit was dismissed . the settlement will not have a material financial impact on the company . on august 18 , 2003 , edwards lifesciences filed a lawsuit against medtronic , inc. , medtronic ave , cook , inc . and w.l . gore & associates alleging infringement of a patent exclusively licensed to the company . the lawsuit was filed in the united states district court for the northern district of california , seeking monetary damages and injunctive relief . on september 2 , 2003 , a second patent exclusively licensed to the company was added to the lawsuit . each of the defendants has answered and asserted various affirmative defenses and counterclaims . discovery is proceeding . in addition , edwards lifesciences is or may be a party to , or may be otherwise responsible for , pending or threatened lawsuits related primarily to products and services currently or formerly manufactured or performed , as applicable , by edwards lifesciences . such cases and claims raise difficult and complex factual and legal issues and are subject to many uncertainties and complexities , including , but not limited to , the facts and circumstances of each particular case or claim , the jurisdiction in which each suit is brought , and differences in applicable law . upon resolution of any pending legal matters , edwards lifesciences may incur charges in excess of presently established reserves . while any such charge could have a material adverse impact on edwards lifesciences 2019 net income or cash flows in the period in which it is recorded or paid , management does not believe that any such charge would have a material adverse effect on edwards lifesciences 2019 financial position , results of operations or liquidity . edwards lifesciences is also subject to various environmental laws and regulations both within and outside of the united states . the operations of edwards lifesciences , like those of other medical device companies , involve the use of substances regulated under environmental laws , primarily in manufacturing and sterilization processes . while it is difficult to quantify the potential impact of compliance with environmental protection laws .
Question: what is the percentage of the tax benefit compared to the gross net operating loss for the non-united states net operating loss of indefinite period? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.66667 | Context:amount of commitment expiration per period other commercial commitments after millions of dollars total 2010 2011 2012 2013 2014 2014 .
|other commercial commitmentsmillions of dollars|total|amount of commitment expiration per period 2010|amount of commitment expiration per period 2011|amount of commitment expiration per period 2012|amount of commitment expiration per period 2013|amount of commitment expiration per period 2014|amount of commitment expiration per period after 2014|
|credit facilities [a]|$ 1900|$ -|$ -|$ 1900|$ -|$ -|$ -|
|sale of receivables [b]|600|600|-|-|-|-|-|
|guarantees [c]|416|29|76|24|8|214|65|
|standby letters of credit [d]|22|22|-|-|-|-|-|
|total commercial commitments|$ 2938|$ 651|$ 76|$ 1924|$ 8|$ 214|$ 65|
[a] none of the credit facility was used as of december 31 , 2009 . [b] $ 400 million of the sale of receivables program was utilized at december 31 , 2009 . [c] includes guaranteed obligations related to our headquarters building , equipment financings , and affiliated operations . [d] none of the letters of credit were drawn upon as of december 31 , 2009 . off-balance sheet arrangements sale of receivables 2013 the railroad transfers most of its accounts receivable to union pacific receivables , inc . ( upri ) , a bankruptcy-remote subsidiary , as part of a sale of receivables facility . upri sells , without recourse on a 364-day revolving basis , an undivided interest in such accounts receivable to investors . the total capacity to sell undivided interests to investors under the facility was $ 600 million and $ 700 million at december 31 , 2009 and 2008 , respectively . the value of the outstanding undivided interest held by investors under the facility was $ 400 million and $ 584 million at december 31 , 2009 and 2008 , respectively . during 2009 , upri reduced the outstanding undivided interest held by investors due to a decrease in available receivables . the value of the undivided interest held by investors is not included in our consolidated financial statements . the value of the undivided interest held by investors was supported by $ 817 million and $ 1015 million of accounts receivable held by upri at december 31 , 2009 and 2008 , respectively . at december 31 , 2009 and 2008 , the value of the interest retained by upri was $ 417 million and $ 431 million , respectively . this retained interest is included in accounts receivable in our consolidated financial statements . the interest sold to investors is sold at carrying value , which approximates fair value , and there is no gain or loss recognized from the transaction . the value of the outstanding undivided interest held by investors could fluctuate based upon the availability of eligible receivables and is directly affected by changing business volumes and credit risks , including default and dilution . if default or dilution ratios increase one percent , the value of the outstanding undivided interest held by investors would not change as of december 31 , 2009 . should our credit rating fall below investment grade , the value of the outstanding undivided interest held by investors would be reduced , and , in certain cases , the investors would have the right to discontinue the facility . the railroad services the sold receivables ; however , the railroad does not recognize any servicing asset or liability , as the servicing fees adequately compensate us for these responsibilities . the railroad collected approximately $ 13.8 billion and $ 17.8 billion during the years ended december 31 , 2009 and 2008 , respectively . upri used certain of these proceeds to purchase new receivables under the facility . the costs of the sale of receivables program are included in other income and were $ 9 million , $ 23 million , and $ 35 million for 2009 , 2008 , and 2007 , respectively . the costs include interest , which will vary based on prevailing commercial paper rates , program fees paid to banks , commercial paper issuing costs , and fees for unused commitment availability . the decrease in the 2009 costs was primarily attributable to lower commercial paper rates and a decrease in the outstanding interest held by investors. .
Question: how much of the receivables facility was utilized at december 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: |
0.27437 | Context:contractual obligations by less than more than period as of june 30 , 2011 1 year 1-3 years 3-5 years 5 years total .
|contractual obligations byperiod as of june 30 2011|less than1 year|1-3 years|3-5 years|more than5 years|total|
|operating lease obligations|$ 7185|$ 10511|$ 7004|$ 1487|$ 26187|
|capital lease obligations|3016|-|-|-|3016|
|notes payable includingaccrued interest|23087|45431|82508|-|151026|
|purchase obligations|10700|-|-|-|10700|
|total|$ 43988|$ 55942|$ 89512|$ 1487|$ 190929|
recent accounting pronouncements in october 2009 , the fasb issued accounting standards update ( 201casu 201d ) no . 2009-13 , multiple-deliverable revenue arrangements , which is effective for arrangements beginning or changed during fiscal years starting after june 15 , 2010 . this new standard eliminates the use of the residual method of revenue recognition and requires the allocation of consideration to each deliverable using the relative selling price method . this new guidance did not have a material impact on revenue recognition because nearly all of the company 2019s revenue arrangements are subject to accounting standards codification ( 201casc 201d ) topic 985 . such arrangements are considered out of scope for this asu . in october 2009 , the fasb also issued asu no . 2009-14 , software : certain revenue arrangements that include software elements , which is also effective for arrangements beginning or changed during fiscal years starting after june 15 , 2010 . this revision to software ( topic 985 ) drops from its scope all tangible products containing both software and non-software components that operate together to deliver the product 2019s functions . the majority of the company 2019s software arrangements are not tangible products with software components ; therefore , this update did not materially impact the company . the fasb issued asu no . 2011-04 , fair value measurement in may 2011 , which is effective for the company beginning july 1 , 2012 and is to be applied prospectively . the updated explanatory guidance on measuring fair value will be adopted by the company at that time and is not expected to have a significant impact on our fair value calculations . no additional fair value measurements are required as a result of the update . the fasb also issued asu no . 2011-05 , comprehensive income in june 2011 , which is effective for the company beginning january 1 , 2012 and will be applied retrospectively . the updated guidance requires non-owner changes in stockholders 2019 equity to be reported either in a single continuous statement of comprehensive income or in two separate but consecutive statements , rather than as part of the statement of changes in stockholders 2019 equity . no changes in disclosure will be required as a result of the update . critical accounting policies we prepare our consolidated financial statements in accordance with accounting principles generally accepted in the united states ( 201cu.s . gaap 201d ) . the significant accounting policies are discussed in note 1 to the consolidated financial statements . the preparation of consolidated financial statements in accordance with u.s . gaap requires us to make estimates and judgments that affect the reported amounts of assets , liabilities , revenue and expenses , as well as disclosure of contingent assets and liabilities . we base our estimates and judgments upon historical experience and other factors believed to be reasonable under the circumstances . changes in estimates or assumptions could result in a material adjustment to the consolidated financial statements . we have identified several critical accounting estimates . an accounting estimate is considered critical if both : ( a ) the nature of the estimates or assumptions is material due to the levels of subjectivity and judgment involved , and ( b ) the impact of changes in the estimates and assumptions would have a material effect on the consolidated financial statements. .
Question: what percent of operating lease obligations are due in less than one 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: |
1.0 | Context:j a c k h e n r y . c o m 1 5 market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities the company 2019s common stock is quoted on the nasdaq global select market ( 201cnasdaq 201d ) under the symbol 201cjkhy 201d . the company established a practice of paying quarterly dividends at the end of fiscal 1990 and has paid dividends with respect to every quarter since that time . the declaration and payment of any future dividends will continue to be at the discretion of our board of directors and will depend upon , among other factors , our earnings , capital requirements , contractual restrictions , and operating and financial condition . the company does not currently foresee any changes in its dividend practices . on august 15 , 2019 , there were approximately 145300 holders of the company 2019s common stock , including individual participants in security position listings . on that same date the last sale price of the common shares as reported on nasdaq was $ 141.94 per share . issuer purchases of equity securities the following shares of the company were repurchased during the quarter ended june 30 , 2019 : total number of shares purchased ( 1 ) average price of total number of shares purchased as part of publicly announced plans ( 1 ) maximum number of shares that may yet be purchased under the plans ( 2 ) .
||total number of shares purchased ( 1 )|average price of share|total number of shares purchased as part of publicly announced plans ( 1 )|maximum number of shares that may yet be purchased under the plans ( 2 )|
|april 1- april 30 2019|2014|$ 2014|2014|3732713|
|may 1- may 31 2019|250000|$ 134.35|250000|3482713|
|june 1- june 30 2019|2014|$ 2014|2014|3482713|
|total|250000|$ 134.35|250000|3482713|
( 1 ) 250000 shares were purchased through a publicly announced repurchase plan . there were no shares surrendered to the company to satisfy tax withholding obligations in connection with employee restricted stock awards . ( 2 ) total stock repurchase authorizations approved by the company 2019s board of directors as of february 17 , 2015 were for 30.0 million shares . these authorizations have no specific dollar or share price targets and no expiration dates. .
Question: what percent of the total years repurchases were done in the period from may 1- may 31 2019? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.08118 | Context:in february 2008 , we issued $ 300.0 million of 8.375% ( 8.375 % ) series o cumulative redeemable preferred shares . the indentures ( and related supplemental indentures ) governing our outstanding series of notes also require us to comply with financial ratios and other covenants regarding our operations . we were in compliance with all such covenants as of december 31 , 2007 . sale of real estate assets we utilize sales of real estate assets as an additional source of liquidity . we pursue opportunities to sell real estate assets at favorable prices to capture value created by us as well as to improve the overall quality of our portfolio by recycling sale proceeds into new properties with greater value creation opportunities . uses of liquidity our principal uses of liquidity include the following : 2022 property investments ; 2022 recurring leasing/capital costs ; 2022 dividends and distributions to shareholders and unitholders ; 2022 long-term debt maturities ; and 2022 other contractual obligations property investments we evaluate development and acquisition opportunities based upon market outlook , supply and long-term growth potential . recurring expenditures one of our principal uses of our liquidity is to fund the recurring leasing/capital expenditures of our real estate investments . the following is a summary of our recurring capital expenditures for the years ended december 31 , 2007 , 2006 and 2005 , respectively ( in thousands ) : .
||2007|2006|2005|
|recurring tenant improvements|$ 45296|$ 41895|$ 60633|
|recurring leasing costs|32238|32983|33175|
|building improvements|8402|8122|15232|
|totals|$ 85936|$ 83000|$ 109040|
dividends and distributions in order to qualify as a reit for federal income tax purposes , we must currently distribute at least 90% ( 90 % ) of our taxable income to shareholders . we paid dividends per share of $ 1.91 , $ 1.89 and $ 1.87 for the years ended december 31 , 2007 , 2006 and 2005 , respectively . we also paid a one-time special dividend of $ 1.05 per share in 2005 as a result of the significant gain realized from an industrial portfolio sale . we expect to continue to distribute taxable earnings to meet the requirements to maintain our reit status . however , distributions are declared at the discretion of our board of directors and are subject to actual cash available for distribution , our financial condition , capital requirements and such other factors as our board of directors deems relevant . debt maturities debt outstanding at december 31 , 2007 totaled $ 4.3 billion with a weighted average interest rate of 5.74% ( 5.74 % ) maturing at various dates through 2028 . we had $ 3.2 billion of unsecured notes , $ 546.1 million outstanding on our unsecured lines of credit and $ 524.4 million of secured debt outstanding at december 31 , 2007 . scheduled principal amortization and maturities of such debt totaled $ 249.8 million for the year ended december 31 , 2007 and $ 146.4 million of secured debt was transferred to unconsolidated subsidiaries in connection with the contribution of properties in 2007. .
Question: what was the percent of the growth in the recurring tenant improvements 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: |
0.28 | Context:in a new business model such as the retail segment is inherently risky , particularly in light of the significant investment involved , the current economic climate , and the fixed nature of a substantial portion of the retail segment's operating expenses . results for this segment are dependent upon a number of risks and uncertainties , some of which are discussed below under the heading "factors that may affect future results and financial condition." backlog in the company's experience , the actual amount of product backlog at any particular time is not a meaningful indication of its future business prospects . in particular , backlog often increases in anticipation of or immediately following new product introductions because of over- ordering by dealers anticipating shortages . backlog often is reduced once dealers and customers believe they can obtain sufficient supply . because of the foregoing , backlog cannot be considered a reliable indicator of the company's ability to achieve any particular level of revenue or financial performance . further information regarding the company's backlog may be found below under the heading "factors that may affect future results and financial condition." gross margin gross margin for the three fiscal years ended september 28 , 2002 are as follows ( in millions , except gross margin percentages ) : gross margin increased to 28% ( 28 % ) of net sales in 2002 from 23% ( 23 % ) in 2001 . as discussed below , gross margin in 2001 was unusually low resulting from negative gross margin of 2% ( 2 % ) experienced in the first quarter of 2001 . as a percentage of net sales , the company's quarterly gross margins declined during fiscal 2002 from 31% ( 31 % ) in the first quarter down to 26% ( 26 % ) in the fourth quarter . this decline resulted from several factors including a rise in component costs as the year progressed and aggressive pricing by the company across its products lines instituted as a result of continued pricing pressures in the personal computer industry . the company anticipates that its gross margin and the gross margin of the overall personal computer industry will remain under pressure throughout fiscal 2003 in light of weak economic conditions , flat demand for personal computers in general , and the resulting pressure on prices . the foregoing statements regarding anticipated gross margin in 2003 and the general demand for personal computers during 2003 are forward- looking . gross margin could differ from anticipated levels because of several factors , including certain of those set forth below in the subsection entitled "factors that may affect future results and financial condition." there can be no assurance that current gross margins will be maintained , targeted gross margin levels will be achieved , or current margins on existing individual products will be maintained . in general , gross margins and margins on individual products will remain under significant downward pressure due to a variety of factors , including continued industry wide global pricing pressures , increased competition , compressed product life cycles , potential increases in the cost and availability of raw material and outside manufacturing services , and potential changes to the company's product mix , including higher unit sales of consumer products with lower average selling prices and lower gross margins . in response to these downward pressures , the company expects it will continue to take pricing actions with respect to its products . gross margins could also be affected by the company's ability to effectively manage quality problems and warranty costs and to stimulate demand for certain of its products . the company's operating strategy and pricing take into account anticipated changes in foreign currency exchange rates over time ; however , the company's results of operations can be significantly affected in the short-term by fluctuations in exchange rates . the company orders components for its products and builds inventory in advance of product shipments . because the company's markets are volatile and subject to rapid technology and price changes , there is a risk the company will forecast incorrectly and produce or order from third parties excess or insufficient inventories of particular products or components . the company's operating results and financial condition have been in the past and may in the future be materially adversely affected by the company's ability to manage its inventory levels and outstanding purchase commitments and to respond to short-term shifts in customer demand patterns . gross margin declined to 23% ( 23 % ) of net sales in 2001 from 27% ( 27 % ) in 2000 . this decline resulted primarily from gross margin of negative 2% ( 2 % ) experienced during the first quarter of 2001 compared to 26% ( 26 % ) gross margin for the same quarter in 2000 . in addition to lower than normal net .
||2002|2001|2000|
|net sales|$ 5742|$ 5363|$ 7983|
|cost of sales|4139|4128|5817|
|gross margin|$ 1603|$ 1235|$ 2166|
|gross margin percentage|28% ( 28 % )|23% ( 23 % )|27% ( 27 % )|
.
Question: what was the highest gross margin percentage? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.18147 | Context:factors , including the market price of our common stock , general economic and market conditions and applicable legal requirements . the repurchase program may be commenced , suspended or discontinued at any time . in fiscal 2019 , we repurchased approximately 2.1 million shares of our common stock for an aggregate cost of $ 88.6 million . in fiscal 2018 , we repurchased approximately 3.4 million shares of our common stock for an aggregate cost of $ 195.1 million . as of september 30 , 2019 , we had approximately 19.1 million shares of common stock available for repurchase under the program . we anticipate that we will be able to fund our capital expenditures , interest payments , dividends and stock repurchases , pension payments , working capital needs , note repurchases , restructuring activities , repayments of current portion of long-term debt and other corporate actions for the foreseeable future from cash generated from operations , borrowings under our credit facilities , proceeds from our a/r sales agreement , proceeds from the issuance of debt or equity securities or other additional long-term debt financing , including new or amended facilities . in addition , we continually review our capital structure and conditions in the private and public debt markets in order to optimize our mix of indebtedness . in connection with these reviews , we may seek to refinance existing indebtedness to extend maturities , reduce borrowing costs or otherwise improve the terms and composition of our indebtedness . contractual obligations we summarize our enforceable and legally binding contractual obligations at september 30 , 2019 , and the effect these obligations are expected to have on our liquidity and cash flow in future periods in the following table . certain amounts in this table are based on management 2019s estimates and assumptions about these obligations , including their duration , the possibility of renewal , anticipated actions by third parties and other factors , including estimated minimum pension plan contributions and estimated benefit payments related to postretirement obligations , supplemental retirement plans and deferred compensation plans . because these estimates and assumptions are subjective , the enforceable and legally binding obligations we actually pay in future periods may vary from those presented in the table. .
|( in millions )|payments due by period total|payments due by period fiscal 2020|payments due by period fiscal 2021and 2022|payments due by period fiscal 2023and 2024|payments due by period thereafter|
|long-term debt including current portionexcluding capital lease obligations ( 1 )|$ 9714.1|$ 550.8|$ 939.8|$ 2494.3|$ 5729.2|
|operating lease obligations ( 2 )|930.4|214.3|316.4|193.6|206.1|
|capital lease obligations ( 3 )|168.9|6.4|8.7|2.9|150.9|
|purchase obligations and other ( 4 ) ( 5 ) ( 6 )|2293.5|1607.0|292.5|206.7|187.3|
|total|$ 13106.9|$ 2378.5|$ 1557.4|$ 2897.5|$ 6273.5|
( 1 ) includes only principal payments owed on our debt assuming that all of our long-term debt will be held to maturity , excluding scheduled payments . we have excluded $ 163.5 million of fair value of debt step-up , deferred financing costs and unamortized bond discounts from the table to arrive at actual debt obligations . see 201cnote 13 . debt 201d of the notes to consolidated financial statements for information on the interest rates that apply to our various debt instruments . ( 2 ) see 201cnote 15 . operating leases 201d of the notes to consolidated financial statements for additional information . ( 3 ) the fair value step-up of $ 16.9 million is excluded . see 201cnote 13 . debt 2014 capital lease and other indebtedness 201d of the notes to consolidated financial statements for additional information . ( 4 ) purchase obligations include agreements to purchase goods or services that are enforceable and legally binding and that specify all significant terms , including : fixed or minimum quantities to be purchased ; fixed , minimum or variable price provision ; and the approximate timing of the transaction . purchase obligations exclude agreements that are cancelable without penalty . ( 5 ) we have included in the table future estimated minimum pension plan contributions and estimated benefit payments related to postretirement obligations , supplemental retirement plans and deferred compensation plans . our estimates are based on factors , such as discount rates and expected returns on plan assets . future contributions are subject to changes in our underfunded status based on factors such as investment performance , discount rates , returns on plan assets and changes in legislation . it is possible that our assumptions may change , actual market performance may vary or we may decide to contribute different amounts . we have excluded $ 237.2 million of multiemployer pension plan withdrawal liabilities recorded as of september 30 , 2019 , including our estimate of the accumulated funding deficiency , due to lack of .
Question: what percent of total payments are due within the next year ( 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: |
1364.0 | Context:investment strategy the company 2019s global pension and postretirement funds 2019 investment strategy is to invest in a prudent manner for the exclusive purpose of providing benefits to participants . the investment strategies are targeted to produce a total return that , when combined with the company 2019s contributions to the funds , will maintain the funds 2019 ability to meet all required benefit obligations . risk is controlled through diversification of asset types and investments in domestic and international equities , fixed income securities and cash and short-term investments . the target asset allocation in most locations outside the u.s . is primarily in equity and debt securities . these allocations may vary by geographic region and country depending on the nature of applicable obligations and various other regional considerations . the wide variation in the actual range of plan asset allocations for the funded non-u.s . plans is a result of differing local statutory requirements and economic conditions . for example , in certain countries local law requires that all pension plan assets must be invested in fixed income investments , government funds or local-country securities . significant concentrations of risk in plan assets the assets of the company 2019s pension plans are diversified to limit the impact of any individual investment . the u.s . qualified pension plan is diversified across multiple asset classes , with publicly traded fixed income , hedge funds , publicly traded equity and real estate representing the most significant asset allocations . investments in these four asset classes are further diversified across funds , managers , strategies , vintages , sectors and geographies , depending on the specific characteristics of each asset class . the pension assets for the company 2019s non-u.s . significant plans are primarily invested in publicly traded fixed income and publicly traded equity securities . oversight and risk management practices the framework for the company 2019s pension oversight process includes monitoring of retirement plans by plan fiduciaries and/or management at the global , regional or country level , as appropriate . independent risk management contributes to the risk oversight and monitoring for the company 2019s u.s . qualified pension plan and non-u.s . significant pension plans . although the specific components of the oversight process are tailored to the requirements of each region , country and plan , the following elements are common to the company 2019s monitoring and risk management process : 2022 periodic asset/liability management studies and strategic asset allocation reviews ; 2022 periodic monitoring of funding levels and funding ratios ; 2022 periodic monitoring of compliance with asset allocation guidelines ; 2022 periodic monitoring of asset class and/or investment manager performance against benchmarks ; and 2022 periodic risk capital analysis and stress testing . estimated future benefit payments the company expects to pay the following estimated benefit payments in future years: .
|in millions of dollars|pension plans u.s . plans|pension plans non-u.s . plans|pension plans u.s . plans|non-u.s . plans|
|2019|$ 797|$ 435|$ 62|$ 70|
|2020|828|417|62|75|
|2021|847|426|61|80|
|2022|857|448|59|86|
|2023|873|471|57|92|
|2024 20132028|4365|2557|252|547|
.
Question: what are total estimated future benefit payments in millions for 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: |
12.5 | Context:american tower corporation and subsidiaries notes to consolidated financial statements related contingent consideration , and any subsequent changes in fair value using a discounted probability- weighted approach . this approach takes into consideration level 3 unobservable inputs including probability assessments of expected future cash flows over the period in which the obligation is expected to be settled and applies a discount factor that captures the uncertainties associated with the obligation . changes in these unobservable inputs could significantly impact the fair value of the liabilities recorded in the accompanying consolidated balance sheets and operating expenses in the consolidated statements of operations . as of december 31 , 2012 , the company estimates the value of all potential acquisition-related contingent consideration required payments to be between zero and $ 43.6 million . during the years ended december 31 , 2012 and 2011 , the fair value of the contingent consideration changed as follows ( in thousands ) : .
||2012|2011|
|balance as of january 1|$ 25617|$ 5809|
|additions|6653|19853|
|payments|-15716 ( 15716 )|-5742 ( 5742 )|
|change in fair value|6329|5634|
|foreign currency translation adjustment|828|63|
|balance as of december 31|$ 23711|$ 25617|
items measured at fair value on a nonrecurring basis 2014during the year ended december 31 , 2012 , certain long-lived assets held and used with a carrying value of $ 5379.2 million were written down to their net realizable value of $ 5357.7 million as a result of an asset impairment charge of $ 21.5 million , which was recorded in other operating expenses in the accompanying consolidated statements of operations . during the year ended december 31 , 2011 , long-lived assets held and used with a carrying value of $ 4280.8 million were written down to their net realizable value of $ 4271.8 million , resulting in an asset impairment charge of $ 9.0 million . these adjustments were determined by comparing the estimated proceeds from sale of assets or the projected future discounted cash flows to be provided from the long-lived assets ( calculated using level 3 inputs ) to the asset 2019s carrying value . there were no other items measured at fair value on a nonrecurring basis during the year ended december 31 , 2012 . fair value of financial instruments 2014the carrying value of the company 2019s financial instruments , with the exception of long-term obligations , including the current portion , reasonably approximate the related fair value as of december 31 , 2012 and 2011 . the company 2019s estimates of fair value of its long-term obligations , including the current portion , are based primarily upon reported market values . for long-term debt not actively traded , fair value was estimated using a discounted cash flow analysis using rates for debt with similar terms and maturities . as of december 31 , 2012 , the carrying value and fair value of long-term obligations , including the current portion , were $ 8.8 billion and $ 9.4 billion , respectively , of which $ 4.9 billion was measured using level 1 inputs and $ 4.5 billion was measured using level 2 inputs . as of december 31 , 2011 , the carrying value and fair value of long-term obligations , including the current portion , were $ 7.2 billion and $ 7.5 billion , respectively , of which $ 3.8 billion was measured using level 1 inputs and $ 3.7 billion was measured using level 2 inputs . 13 . income taxes the company has filed , for prior taxable years through its taxable year ended december 31 , 2011 , a consolidated u.s . federal tax return , which includes all of its wholly owned domestic subsidiaries . for its taxable year commencing january 1 , 2012 , the company intends to file as a reit , and its domestic trss intend to file as c corporations . the company also files tax returns in various states and countries . the company 2019s state tax returns reflect different combinations of the company 2019s subsidiaries and are dependent on the connection each subsidiary has with a particular state . the following information pertains to the company 2019s income taxes on a consolidated basis. .
Question: what was the improvement in non-recurring items relating to impairments from 2011 to 2012 , 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: |
-6.3 | Context:item 7a . quantitative and qualitative disclosures about market risk ( amounts in millions ) in the normal course of business , we are exposed to market risks related to interest rates , foreign currency rates and certain balance sheet items . from time to time , we use derivative instruments , pursuant to established guidelines and policies , to manage some portion of these risks . derivative instruments utilized in our hedging activities are viewed as risk management tools and are not used for trading or speculative purposes . interest rates our exposure to market risk for changes in interest rates relates primarily to the fair market value and cash flows of our debt obligations . the majority of our debt ( approximately 94% ( 94 % ) and 93% ( 93 % ) as of december 31 , 2017 and 2016 , respectively ) bears interest at fixed rates . we do have debt with variable interest rates , but a 10% ( 10 % ) increase or decrease in interest rates would not be material to our interest expense or cash flows . the fair market value of our debt is sensitive to changes in interest rates , and the impact of a 10% ( 10 % ) change in interest rates is summarized below . increase/ ( decrease ) in fair market value as of december 31 , 10% ( 10 % ) increase in interest rates 10% ( 10 % ) decrease in interest rates .
|as of december 31,|increase/ ( decrease ) in fair market value 10% ( 10 % ) increasein interest rates|increase/ ( decrease ) in fair market value 10% ( 10 % ) decreasein interest rates|
|2017|$ -20.2 ( 20.2 )|$ 20.6|
|2016|-26.3 ( 26.3 )|26.9|
we have used interest rate swaps for risk management purposes to manage our exposure to changes in interest rates . we did not have any interest rate swaps outstanding as of december 31 , 2017 . we had $ 791.0 of cash , cash equivalents and marketable securities as of december 31 , 2017 that we generally invest in conservative , short-term bank deposits or securities . the interest income generated from these investments is subject to both domestic and foreign interest rate movements . during 2017 and 2016 , we had interest income of $ 19.4 and $ 20.1 , respectively . based on our 2017 results , a 100 basis-point increase or decrease in interest rates would affect our interest income by approximately $ 7.9 , assuming that all cash , cash equivalents and marketable securities are impacted in the same manner and balances remain constant from year-end 2017 levels . foreign currency rates we are subject to translation and transaction risks related to changes in foreign currency exchange rates . since we report revenues and expenses in u.s . dollars , changes in exchange rates may either positively or negatively affect our consolidated revenues and expenses ( as expressed in u.s . dollars ) from foreign operations . the foreign currencies that most impacted our results during 2017 included the british pound sterling and , to a lesser extent , brazilian real and south african rand . based on 2017 exchange rates and operating results , if the u.s . dollar were to strengthen or weaken by 10% ( 10 % ) , we currently estimate operating income would decrease or increase approximately 4% ( 4 % ) , assuming that all currencies are impacted in the same manner and our international revenue and expenses remain constant at 2017 levels . the functional currency of our foreign operations is generally their respective local currency . assets and liabilities are translated at the exchange rates in effect at the balance sheet date , and revenues and expenses are translated at the average exchange rates during the period presented . the resulting translation adjustments are recorded as a component of accumulated other comprehensive loss , net of tax , in the stockholders 2019 equity section of our consolidated balance sheets . our foreign subsidiaries generally collect revenues and pay expenses in their functional currency , mitigating transaction risk . however , certain subsidiaries may enter into transactions in currencies other than their functional currency . assets and liabilities denominated in currencies other than the functional currency are susceptible to movements in foreign currency until final settlement . currency transaction gains or losses primarily arising from transactions in currencies other than the functional currency are included in office and general expenses . we regularly review our foreign exchange exposures that may have a material impact on our business and from time to time use foreign currency forward exchange contracts or other derivative financial instruments to hedge the effects of potential adverse fluctuations in foreign currency exchange rates arising from these exposures . we do not enter into foreign exchange contracts or other derivatives for speculative purposes. .
Question: what is the difference of the debt market value between 2016 and 2017 if interest rates decrease 10%? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.87571 | 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 , 2014 to december 31 , 2014 . 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 mayyet be purchased under theplans or programs3|
|october 1 - 31|5854930|$ 18.93|5849517|$ 159819370|
|november 1 - 30|4266|$ 20.29|2014|$ 159819370|
|december 1 - 31|826744|$ 19.67|826639|$ 143559758|
|total|6685940|$ 19.02|6676156||
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 5413 withheld shares in october 2014 , 4266 withheld shares in november 2014 and 105 withheld shares in december 2014 . 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 2014 , the board authorized a new share repurchase program to repurchase from time to time up to $ 300.0 million , excluding fees , of our common stock ( the 201c2014 share repurchase program 201d ) . on february 13 , 2015 , 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 available for repurchase under the 2014 share repurchase program . there is no expiration date associated with the share repurchase programs. .
Question: what was the percent of the total number of shares purchased in october | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
12236.0 | Context:notes to consolidated financial statements 2014 ( continued ) a reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows ( in thousands ) : .
|balance at october 1 2010|$ 19900|
|increases based on positions related to prior years|935|
|increases based on positions related to current year|11334|
|decreases relating to settlements with taxing authorities|2014|
|decreases relating to lapses of applicable statutes of limitations|-33 ( 33 )|
|balance at september 30 2011|$ 32136|
the company 2019s major tax jurisdictions as of september 30 , 2011 are the united states , california , iowa , singapore and canada . for the united states , the company has open tax years dating back to fiscal year 1998 due to the carry forward of tax attributes . for california and iowa , the company has open tax years dating back to fiscal year 2002 due to the carry forward of tax attributes . for singapore , the company has open tax years dating back to fiscal year 2011 . for canada , the company has open tax years dating back to fiscal year 2004 . during the year ended september 30 , 2011 , the company did not recognize any significant amount of previously unrecognized tax benefits related to the expiration of the statute of limitations . the company 2019s policy is to recognize accrued interest and penalties , if incurred , on any unrecognized tax benefits as a component of income tax expense . the company recognized $ 0.5 million of accrued interest or penalties related to unrecognized tax benefits during fiscal year 2011 . 11 . stockholders 2019 equity common stock at september 30 , 2011 , the company is authorized to issue 525000000 shares of common stock , par value $ 0.25 per share of which 195407396 shares are issued and 186386197 shares outstanding . holders of the company 2019s common stock are entitled to such dividends as may be declared by the company 2019s board of directors out of funds legally available for such purpose . dividends may not be paid on common stock unless all accrued dividends on preferred stock , if any , have been paid or declared and set aside . in the event of the company 2019s liquidation , dissolution or winding up , the holders of common stock will be entitled to share pro rata in the assets remaining after payment to creditors and after payment of the liquidation preference plus any unpaid dividends to holders of any outstanding preferred stock . each holder of the company 2019s common stock is entitled to one vote for each such share outstanding in the holder 2019s name . no holder of common stock is entitled to cumulate votes in voting for directors . the company 2019s second amended and restated certificate of incorporation provides that , unless otherwise determined by the company 2019s board of directors , no holder of common stock has any preemptive right to purchase or subscribe for any stock of any class which the company may issue or sell . on august 3 , 2010 , the board of directors approved a stock repurchase program , pursuant to which the company is authorized to repurchase up to $ 200.0 million of the company 2019s common stock from time to time on the open market or in privately negotiated transactions as permitted by securities laws and other legal requirements . during the fiscal year ended september 30 , 2011 , the company paid approximately $ 70.0 million ( including commissions ) in connection with the repurchase of 2768045 shares of its common stock ( paying an average price of $ 25.30 per share ) . as of september 30 , 2011 , $ 130.0 million remained available under the existing share repurchase program . page 110 skyworks / annual report 2011 .
Question: what is the net change amount of unrecognized tax benefits for the given 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: |
88437723.0 | 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 , 2013 to december 31 , 2013 . 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 mayyet be purchased under theplans or programs3|
|october 1 - 31|3351759|$ 16.63|3350692|$ 263702132|
|november 1 - 30|5202219|$ 17.00|5202219|$ 175284073|
|december 1 - 31|3323728|$ 17.07|3323728|$ 118560581|
|total|11877706|$ 16.91|11876639||
1 includes 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 1067 withheld shares in october 2013 . no withheld shares were purchased in november or december of 2013 . 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 6 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 2013 , the board authorized a new share repurchase program to repurchase from time to time up to $ 300.0 million , excluding fees , of our common stock ( the 201c2013 share repurchase program 201d ) . in march 2013 , the board authorized an increase in the amount available under our 2013 share repurchase program up to $ 500.0 million , excluding fees , of our common stock . on february 14 , 2014 , 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 available for repurchase under the 2013 share repurchase program . there is no expiration date associated with the share repurchase programs. .
Question: what is the total amount of cash used for the repurchase of shares during november? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.12711 | Context:other-than-temporary impairments on investment securities . in april 2009 , the fasb revised the authoritative guidance for the recognition and presentation of other-than-temporary impairments . this new guidance amends the recognition guidance for other-than-temporary impairments of debt securities and expands the financial statement disclosures for other-than-temporary impairments on debt and equity securities . for available for sale debt securities that the company has no intent to sell and more likely than not will not be required to sell prior to recovery , only the credit loss component of the impairment would be recognized in earnings , while the rest of the fair value loss would be recognized in accumulated other comprehensive income ( loss ) . the company adopted this guidance effective april 1 , 2009 . upon adoption the company recognized a cumulative-effect adjustment increase in retained earnings ( deficit ) and decrease in accumulated other comprehensive income ( loss ) as follows : ( dollars in thousands ) .
|cumulative-effect adjustment gross|$ 65658|
|tax|-8346 ( 8346 )|
|cumulative-effect adjustment net|$ 57312|
measurement of fair value in inactive markets . in april 2009 , the fasb revised the authoritative guidance for fair value measurements and disclosures , which reaffirms that fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date under current market conditions . it also reaffirms the need to use judgment in determining if a formerly active market has become inactive and in determining fair values when the market has become inactive . there was no impact to the company 2019s financial statements upon adoption . fair value disclosures about pension plan assets . in december 2008 , the fasb revised the authoritative guidance for employers 2019 disclosures about pension plan assets . this new guidance requires additional disclosures about the components of plan assets , investment strategies for plan assets and significant concentrations of risk within plan assets . the company , in conjunction with fair value measurement of plan assets , separated plan assets into the three fair value hierarchy levels and provided a roll forward of the changes in fair value of plan assets classified as level 3 in the 2009 annual consolidated financial statements . these disclosures had no effect on the company 2019s accounting for plan benefits and obligations . revisions to earnings per share calculation . in june 2008 , the fasb revised the authoritative guidance for earnings per share for determining whether instruments granted in share-based payment transactions are participating securities . this new guidance requires unvested share-based payment awards that contain non- forfeitable rights to dividends be considered as a separate class of common stock and included in the earnings per share calculation using the two-class method . the company 2019s restricted share awards meet this definition and are therefore included in the basic earnings per share calculation . additional disclosures for derivative instruments . in march 2008 , the fasb issued authoritative guidance for derivative instruments and hedging activities , which requires enhanced disclosures on derivative instruments and hedged items . on january 1 , 2009 , the company adopted the additional disclosure for the equity index put options . no comparative information for periods prior to the effective date was required . this guidance had no impact on how the company records its derivatives. .
Question: what percent of their cumulative-effect adjustment gross was tax? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.85333 | Context:all debt and common and preferred stock issuances by entergy texas require prior regulatory approval . debt issuances are also subject to issuance tests set forth in its bond indenture and other agreements . entergy texas has sufficient capacity under these tests to meet its foreseeable capital needs . entergy texas 2019s receivables from or ( payables to ) the money pool were as follows as of december 31 for each of the following years. .
|2017|2016|2015|2014|
|( in thousands )|( in thousands )|( in thousands )|( in thousands )|
|$ 44903|$ 681|( $ 22068 )|$ 306|
see note 4 to the financial statements for a description of the money pool . entergy texas has a credit facility in the amount of $ 150 million scheduled to expire in august 2022 . the credit facility allows entergy texas to issue letters of credit against $ 30 million of the borrowing capacity of the facility . as of december 31 , 2017 , there were no cash borrowings and $ 25.6 million of letters of credit outstanding under the credit facility . in addition , entergy texas is a party to an uncommitted letter of credit facility as a means to post collateral to support its obligations to miso . as of december 31 , 2017 , a $ 22.8 million letter of credit was outstanding under entergy texas 2019s letter of credit facility . see note 4 to the financial statements for additional discussion of the credit facilities . entergy texas obtained authorizations from the ferc through october 2019 for short-term borrowings , not to exceed an aggregate amount of $ 200 million at any time outstanding , and long-term borrowings and security issuances . see note 4 to the financial statements for further discussion of entergy texas 2019s short-term borrowing limits . entergy texas , inc . and subsidiaries management 2019s financial discussion and analysis state and local rate regulation and fuel-cost recovery the rates that entergy texas charges for its services significantly influence its financial position , results of operations , and liquidity . entergy texas is regulated and the rates charged to its customers are determined in regulatory proceedings . the puct , a governmental agency , is primarily responsible for approval of the rates charged to customers . filings with the puct 2011 rate case in november 2011 , entergy texas filed a rate case requesting a $ 112 million base rate increase reflecting a 10.6% ( 10.6 % ) return on common equity based on an adjusted june 2011 test year . a0 a0the rate case also proposed a purchased power recovery rider . a0 a0on january 12 , 2012 , the puct voted not to address the purchased power recovery rider in the rate case , but the puct voted to set a baseline in the rate case proceeding that would be applicable if a purchased power capacity rider is approved in a separate proceeding . a0 a0in april 2012 the puct staff filed direct testimony recommending a base rate increase of $ 66 million and a 9.6% ( 9.6 % ) return on common equity . a0 a0the puct staff , however , subsequently filed a statement of position in the proceeding indicating that it was still evaluating the position it would ultimately take in the case regarding entergy texas 2019s recovery of purchased power capacity costs and entergy texas 2019s proposal to defer its miso transition expenses . a0 a0in april 2012 , entergy texas filed rebuttal testimony indicating a revised request for a $ 105 million base rate increase . a0 a0a hearing was held in late-april through early-may 2012 . in september 2012 the puct issued an order approving a $ 28 million rate increase , effective july 2012 . a0 a0the order included a finding that 201ca return on common equity ( roe ) of 9.80 percent will allow [entergy texas] a reasonable opportunity to earn a reasonable return on invested capital . 201d a0 a0the order also provided for increases in depreciation rates and the annual storm reserve accrual . a0 a0the order also reduced entergy texas 2019s proposed purchased power capacity costs , stating that they are not known and measurable ; reduced entergy texas 2019s regulatory assets associated with hurricane rita ; excluded from rate recovery capitalized financially-based incentive compensation ; included $ 1.6 million of miso transition expense in base rates ; and reduced entergy 2019s texas 2019s fuel reconciliation recovery by $ 4 .
Question: what portion of the credit allowance was outstanding on 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: |
-5.35714 | Context:entergy texas , inc . management's financial discussion and analysis net revenue 2008 compared to 2007 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges . following is an analysis of the change in net revenue comparing 2008 to 2007 . amount ( in millions ) .
||amount ( in millions )|
|2007 net revenue|$ 442.3|
|volume/weather|-4.6 ( 4.6 )|
|reserve equalization|-3.3 ( 3.3 )|
|securitization transition charge|9.1|
|fuel recovery|7.5|
|other|-10.1 ( 10.1 )|
|2008 net revenue|$ 440.9|
the volume/weather variance is primarily due to decreased usage during the unbilled sales period . see "critical accounting estimates" below and note 1 to the financial statements for further discussion of the accounting for unbilled revenues . the reserve equalization variance is primarily due to lower reserve equalization revenue related to changes in the entergy system generation mix compared to the same period in 2007 . the securitization transition charge variance is primarily due to the issuance of securitization bonds . in june 2007 , entergy gulf states reconstruction funding i , a company wholly-owned and consolidated by entergy texas , issued securitization bonds and with the proceeds purchased from entergy texas the transition property , which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds . see note 5 to the financial statements for additional information regarding the securitization bonds . the fuel recovery variance is primarily due to a reserve for potential rate refunds made in the first quarter 2007 as a result of a puct ruling related to the application of past puct rulings addressing transition to competition in texas . the other variance is primarily caused by various operational effects of the jurisdictional separation on revenues and fuel and purchased power expenses . gross operating revenues , fuel and purchased power expenses , and other regulatory charges gross operating revenues increased $ 229.3 million primarily due to the following reasons : an increase of $ 157 million in fuel cost recovery revenues due to higher fuel rates and increased usage , partially offset by interim fuel refunds to customers for fuel cost recovery over-collections through november 2007 . the refund was distributed over a two-month period beginning february 2008 . the interim refund and the puct approval is discussed in note 2 to the financial statements ; an increase of $ 37.1 million in affiliated wholesale revenue primarily due to increases in the cost of energy ; an increase in transition charge amounts collected from customers to service the securitization bonds as discussed above . see note 5 to the financial statements for additional information regarding the securitization bonds ; and implementation of an interim surcharge to collect $ 10.3 million in under-recovered incremental purchased capacity costs incurred through july 2007 . the surcharge was collected over a two-month period beginning february 2008 . the incremental capacity recovery rider and puct approval is discussed in note 2 to the financial statements. .
Question: what percent of the net change in revenue between 2007 and 2008 was due to fuel recovery? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-97.2 | Context:entergy arkansas , inc . management's financial discussion and analysis fuel and purchased power expenses increased primarily due to increased recovery of deferred fuel and purchased power costs primarily due to an increase in april 2004 in the energy cost recovery rider and the true-ups to the 2003 and 2002 energy cost recovery rider filings . other regulatory credits decreased primarily due to the over-recovery of grand gulf costs due to an increase in the grand gulf rider effective january 2004 . 2003 compared to 2002 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 2003 to 2002. .
||( in millions )|
|2002 net revenue|$ 1095.9|
|march 2002 settlement agreement|-154.0 ( 154.0 )|
|volume/weather|-7.7 ( 7.7 )|
|asset retirement obligation|30.1|
|net wholesale revenue|16.6|
|deferred fuel cost revisions|10.2|
|other|7.6|
|2003 net revenue|$ 998.7|
the march 2002 settlement agreement resolved a request for recovery of ice storm costs incurred in december 2000 with an offset of those costs for funds contributed to pay for future stranded costs . a 1997 settlement provided for the collection of earnings in excess of an 11% ( 11 % ) return on equity in a transition cost account ( tca ) to offset stranded costs if retail open access were implemented . in mid- and late december 2000 , two separate ice storms left 226000 and 212500 entergy arkansas customers , respectively , without electric power in its service area . entergy arkansas filed a proposal to recover costs plus carrying charges associated with power restoration caused by the ice storms . entergy arkansas' final storm damage cost determination reflected costs of approximately $ 195 million . the apsc approved a settlement agreement submitted in march 2002 by entergy arkansas , the apsc staff , and the arkansas attorney general . in the march 2002 settlement , the parties agreed that $ 153 million of the ice storm costs would be classified as incremental ice storm expenses that can be offset against the tca on a rate class basis , and any excess of ice storm costs over the amount available in the tca would be deferred and amortized over 30 years , although such excess costs were not allowed to be included as a separate component of rate base . the allocated ice storm expenses exceeded the available tca funds by $ 15.8 million which was recorded as a regulatory asset in june 2002 . in accordance with the settlement agreement and following the apsc's approval of the 2001 earnings review related to the tca , entergy arkansas filed to return $ 18.1 million of the tca to certain large general service class customers that paid more into the tca than their allocation of storm costs . the apsc approved the return of funds to the large general service customer class in the form of refund checks in august 2002 . as part of the implementation of the march 2002 settlement agreement provisions , the tca procedure ceased with the 2001 earnings evaluation . of the remaining ice storm costs , $ 32.2 million was addressed through established ratemaking procedures , including $ 22.2 million classified as capital additions , while $ 3.8 million of the ice storm costs was not recovered through rates . the effect on net income of the march 2002 settlement agreement and 2001 earnings review was a $ 2.2 million increase in 2003 , because the decrease in net revenue was offset by the decrease in operation and maintenance expenses discussed below. .
Question: what is the net change in net revenue during 2003 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: |
5495.71429 | Context:properties , plants , and equipment . properties , plants , and equipment are recorded at cost . depreciation is recorded principally on the straight-line method at rates based on the estimated useful lives of the assets . the following table details the weighted-average useful lives of structures and machinery and equipment by reporting segment ( numbers in years ) : .
|segment|structures|machinery and equipment|
|global rolled products|31|21|
|engineered products and solutions|29|17|
|transportation and construction solutions|27|19|
gains or losses from the sale of assets are generally recorded in other income , net ( see policy below for assets classified as held for sale and discontinued operations ) . repairs and maintenance are charged to expense as incurred . interest related to the construction of qualifying assets is capitalized as part of the construction costs . properties , plants , and equipment are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets ( asset group ) may not be recoverable . recoverability of assets is determined by comparing the estimated undiscounted net cash flows of the operations related to the assets ( asset group ) to their carrying amount . an impairment loss would be recognized when the carrying amount of the assets ( asset group ) exceeds the estimated undiscounted net cash flows . the amount of the impairment loss to be recorded is calculated as the excess of the carrying value of the assets ( asset group ) over their fair value , with fair value determined using the best information available , which generally is a discounted cash flow ( dcf ) model . the determination of what constitutes an asset group , the associated estimated undiscounted net cash flows , and the estimated useful lives of assets also require significant judgments . goodwill and other intangible assets . goodwill is not amortized ; instead , it is reviewed for impairment annually ( in the fourth quarter ) or more frequently if indicators of impairment exist or if a decision is made to sell or exit a business . a significant amount of judgment is involved in determining if an indicator of impairment has occurred . such indicators may include deterioration in general economic conditions , negative developments in equity and credit markets , adverse changes in the markets in which an entity operates , increases in input costs that have a negative effect on earnings and cash flows , or a trend of negative or declining cash flows over multiple periods , among others . the fair value that could be realized in an actual transaction may differ from that used to evaluate the impairment of goodwill . goodwill is allocated among and evaluated for impairment at the reporting unit level , which is defined as an operating segment or one level below an operating segment . arconic has eight reporting units , of which four are included in the engineered products and solutions segment , three are included in the transportation and construction solutions segment , and the remaining reporting unit is the global rolled products segment . more than 70% ( 70 % ) of arconic 2019s total goodwill is allocated to two reporting units as follows : arconic fastening systems and rings ( afsr ) ( $ 2200 ) and arconic power and propulsion ( app ) ( $ 1647 ) businesses , both of which are included in the engineered products and solutions segment . these amounts include an allocation of corporate 2019s goodwill . in november 2014 , arconic acquired firth rixson ( see note f ) , and , as a result recognized $ 1801 in goodwill . this amount was allocated between the afsr and arconic forgings and extrusions ( afe ) reporting units , which is part of the engineered products and solutions segment . in march and july 2015 , arconic acquired tital and rti , respectively , ( see note f ) and recognized $ 117 and $ 298 , respectively , in goodwill . the goodwill amount related to tital was allocated to the app reporting unit and the amount related to rti was allocated to arconic titanium and engineered products ( atep ) , a new arconic reporting unit that consists solely of the acquired rti business and is part of the engineered products and solutions segment . in reviewing goodwill for impairment , an entity has the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not ( greater than 50% ( 50 % ) ) that the estimated fair value of a reporting unit is less than its carrying amount . if an entity elects to perform a qualitative assessment and determines that an impairment is more likely than not , the entity is then required to perform the .
Question: what is the total goodwill of arconic , in dollars? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
yes | Context:item 1 . business cna financial corporation 2013 ( continued ) unpredictability in the law , insurance underwriting is expected to continue to be difficult in commercial lines , professional liability and other specialty coverages . the dodd-frank wall street reform and consumer protection act expands the federal presence in insurance oversight and may increase the regulatory requirements to which cna may be subject . the act 2019s requirements include streamlining the state-based regulation of reinsurance and nonadmitted insurance ( property or casualty insurance placed from insurers that are eligible to accept insurance , but are not licensed to write insurance in a particular state ) . the act also establishes a new federal insurance office within the u.s . department of the treasury with powers over all lines of insurance except health insurance , certain long term care insurance and crop insurance , to , among other things , monitor aspects of the insurance industry , identify issues in the regulation of insurers that could contribute to a systemic crisis in the insurance industry or the overall financial system , coordinate federal policy on international insurance matters and preempt state insurance measures under certain circumstances . the act calls for numerous studies and contemplates further regulation . the patient protection and affordable care act and the related amendments in the health care and education reconciliation act may increase cna 2019s operating costs and underwriting losses . this landmark legislation may lead to numerous changes in the health care industry that could create additional operating costs for cna , particularly with respect to workers 2019 compensation and long term care products . these costs might arise through the increased use of health care services by claimants or the increased complexities in health care bills that could require additional levels of review . in addition , due to the expected number of new participants in the health care system and the potential for additional malpractice claims , cna may experience increased underwriting risk in the lines of business that provide management and professional liability insurance to individuals and businesses engaged in the health care industry . the lines of business that provide professional liability insurance to attorneys , accountants and other professionals who advise clients regarding the health care reform legislation may also experience increased underwriting risk due to the complexity of the legislation . properties : the chicago location owned by ccc , a wholly owned subsidiary of cna , houses cna 2019s principal executive offices . cna owns or leases office space in various cities throughout the united states and in other countries . the following table sets forth certain information with respect to cna 2019s principal office locations : location ( square feet ) principal usage 333 s . wabash avenue 763322 principal executive offices of cna chicago , illinois 401 penn street 190677 property and casualty insurance offices reading , pennsylvania 2405 lucien way 116948 property and casualty insurance offices maitland , florida 40 wall street 114096 property and casualty insurance offices new york , new york 1100 ward avenue 104478 property and casualty insurance offices honolulu , hawaii 101 s . phillips avenue 83616 property and casualty insurance offices sioux falls , south dakota 600 n . pearl street 65752 property and casualty insurance offices dallas , texas 1249 s . river road 50366 property and casualty insurance offices cranbury , new jersey 4267 meridian parkway 46903 data center aurora , illinois 675 placentia avenue 46571 property and casualty insurance offices brea , california cna leases its office space described above except for the chicago , illinois building , the reading , pennsylvania building , and the aurora , illinois building , which are owned. .
|location|size ( square feet )|principal usage|
|333 s . wabash avenuechicago illinois|763322|principal executive offices of cna|
|401 penn streetreading pennsylvania|190677|property and casualty insurance offices|
|2405 lucien waymaitland florida|116948|property and casualty insurance offices|
|40 wall streetnew york new york|114096|property and casualty insurance offices|
|1100 ward avenuehonolulu hawaii|104478|property and casualty insurance offices|
|101 s . phillips avenuesioux falls south dakota|83616|property and casualty insurance offices|
|600 n . pearl streetdallas texas|65752|property and casualty insurance offices|
|1249 s . river roadcranbury new jersey|50366|property and casualty insurance offices|
|4267 meridian parkwayaurora illinois|46903|data center|
|675 placentia avenuebrea california|46571|property and casualty insurance offices|
item 1 . business cna financial corporation 2013 ( continued ) unpredictability in the law , insurance underwriting is expected to continue to be difficult in commercial lines , professional liability and other specialty coverages . the dodd-frank wall street reform and consumer protection act expands the federal presence in insurance oversight and may increase the regulatory requirements to which cna may be subject . the act 2019s requirements include streamlining the state-based regulation of reinsurance and nonadmitted insurance ( property or casualty insurance placed from insurers that are eligible to accept insurance , but are not licensed to write insurance in a particular state ) . the act also establishes a new federal insurance office within the u.s . department of the treasury with powers over all lines of insurance except health insurance , certain long term care insurance and crop insurance , to , among other things , monitor aspects of the insurance industry , identify issues in the regulation of insurers that could contribute to a systemic crisis in the insurance industry or the overall financial system , coordinate federal policy on international insurance matters and preempt state insurance measures under certain circumstances . the act calls for numerous studies and contemplates further regulation . the patient protection and affordable care act and the related amendments in the health care and education reconciliation act may increase cna 2019s operating costs and underwriting losses . this landmark legislation may lead to numerous changes in the health care industry that could create additional operating costs for cna , particularly with respect to workers 2019 compensation and long term care products . these costs might arise through the increased use of health care services by claimants or the increased complexities in health care bills that could require additional levels of review . in addition , due to the expected number of new participants in the health care system and the potential for additional malpractice claims , cna may experience increased underwriting risk in the lines of business that provide management and professional liability insurance to individuals and businesses engaged in the health care industry . the lines of business that provide professional liability insurance to attorneys , accountants and other professionals who advise clients regarding the health care reform legislation may also experience increased underwriting risk due to the complexity of the legislation . properties : the chicago location owned by ccc , a wholly owned subsidiary of cna , houses cna 2019s principal executive offices . cna owns or leases office space in various cities throughout the united states and in other countries . the following table sets forth certain information with respect to cna 2019s principal office locations : location ( square feet ) principal usage 333 s . wabash avenue 763322 principal executive offices of cna chicago , illinois 401 penn street 190677 property and casualty insurance offices reading , pennsylvania 2405 lucien way 116948 property and casualty insurance offices maitland , florida 40 wall street 114096 property and casualty insurance offices new york , new york 1100 ward avenue 104478 property and casualty insurance offices honolulu , hawaii 101 s . phillips avenue 83616 property and casualty insurance offices sioux falls , south dakota 600 n . pearl street 65752 property and casualty insurance offices dallas , texas 1249 s . river road 50366 property and casualty insurance offices cranbury , new jersey 4267 meridian parkway 46903 data center aurora , illinois 675 placentia avenue 46571 property and casualty insurance offices brea , california cna leases its office space described above except for the chicago , illinois building , the reading , pennsylvania building , and the aurora , illinois building , which are owned. .
Question: does cna have a large physical presence in south dakota than in texas? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.03458 | Context:continued investments in ecommerce and technology . the increase in operating expenses as a percentage of net sales for fiscal 2017 was partially offset by the impact of store closures in the fourth quarter of fiscal 2016 . membership and other income was relatively flat for fiscal 2018 and increased $ 1.0 billion a0for fiscal 2017 , when compared to the same period in the previous fiscal year . while fiscal 2018 included a $ 387 million gain from the sale of suburbia , a $ 47 million gain from a land sale , higher recycling income from our sustainability efforts and higher membership income from increased plus member penetration at sam's club , these gains were less than gains recognized in fiscal 2017 . fiscal 2017 included a $ 535 million gain from the sale of our yihaodian business and a $ 194 million gain from the sale of shopping malls in chile . for fiscal 2018 , loss on extinguishment of debt was a0$ 3.1 billion , due to the early extinguishment of long-term debt which allowed us to retire higher rate debt to reduce interest expense in future periods . our effective income tax rate was 30.4% ( 30.4 % ) for fiscal 2018 and 30.3% ( 30.3 % ) for both fiscal 2017 and 2016 . although relatively consistent year-over-year , our effective income tax rate may fluctuate from period to period as a result of factors including changes in our assessment of certain tax contingencies , valuation allowances , changes in tax laws , outcomes of administrative audits , the impact of discrete items and the mix of earnings among our u.s . operations and international operations . the reconciliation from the u.s . statutory rate to the effective income tax rates for fiscal 2018 , 2017 and 2016 is presented in note 9 in the "notes to consolidated financial statements" and describes the impact of the enactment of the tax cuts and jobs act of 2017 ( the "tax act" ) to the fiscal 2018 effective income tax rate . as a result of the factors discussed above , we reported $ 10.5 billion and $ 14.3 billion of consolidated net income for fiscal 2018 and 2017 , respectively , which represents a decrease of $ 3.8 billion and $ 0.8 billion for fiscal 2018 and 2017 , respectively , when compared to the previous fiscal year . diluted net income per common share attributable to walmart ( "eps" ) was $ 3.28 and $ 4.38 for fiscal 2018 and 2017 , respectively . walmart u.s . segment .
|( amounts in millions except unit counts )|fiscal years ended january 31 , 2018|fiscal years ended january 31 , 2017|fiscal years ended january 31 , 2016|
|net sales|$ 318477|$ 307833|$ 298378|
|percentage change from comparable period|3.5% ( 3.5 % )|3.2% ( 3.2 % )|3.6% ( 3.6 % )|
|calendar comparable sales increase|2.1% ( 2.1 % )|1.6% ( 1.6 % )|1.0% ( 1.0 % )|
|operating income|$ 17869|$ 17745|$ 19087|
|operating income as a percentage of net sales|5.6% ( 5.6 % )|5.8% ( 5.8 % )|6.4% ( 6.4 % )|
|unit counts at period end|4761|4672|4574|
|retail square feet at period end|705|699|690|
net sales for the walmart u.s . segment increased $ 10.6 billion or 3.5% ( 3.5 % ) and $ 9.5 billion or 3.2% ( 3.2 % ) for fiscal 2018 and 2017 , respectively , when compared to the previous fiscal year . the increases in net sales were primarily due to increases in comparable store sales of 2.1% ( 2.1 % ) and 1.6% ( 1.6 % ) for fiscal 2018 and 2017 , respectively , and year-over-year growth in retail square feet of 0.7% ( 0.7 % ) and 1.4% ( 1.4 % ) for fiscal 2018 and 2017 , respectively . additionally , for fiscal 2018 , sales generated from ecommerce acquisitions further contributed to the year-over-year increase . gross profit rate decreased 24 basis points for fiscal 2018 and increased 24 basis points for fiscal 2017 , when compared to the previous fiscal year . for fiscal 2018 , the decrease was primarily due to strategic price investments and the mix impact from ecommerce . partially offsetting the negative factors for fiscal 2018 was the positive impact of savings from procuring merchandise . for fiscal 2017 , the increase in gross profit rate was primarily due to improved margin in food and consumables , including the impact of savings in procuring merchandise and lower transportation expense from lower fuel costs . operating expenses as a percentage of segment net sales was relatively flat for fiscal 2018 and increased 101 basis points for fiscal 2017 , when compared to the previous fiscal year . fiscal 2018 and fiscal 2017 included charges related to discontinued real estate projects of $ 244 million and $ 249 million , respectively . for fiscal 2017 , the increase was primarily driven by an increase in wage expense due to the investment in the associate wage structure ; the charge related to discontinued real estate projects ; and investments in digital retail and technology . the increase in operating expenses as a percentage of segment net sales for fiscal 2017 was partially offset by the impact of store closures in fiscal 2016 . as a result of the factors discussed above , segment operating income increased $ 124 million for fiscal 2018 and decreased $ 1.3 billion for fiscal 2017 , respectively. .
Question: what is the growth rate in net sales for walmart u.s . segment 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: |
5.10176 | Context:table of contents as of september 25 , 2010 , the carrying amount of the original notes and related equity component ( recorded in capital in excess of par value , net of deferred taxes ) consisted of the following: .
|convertible notes principal amount|$ 1725000|
|unamortized discount|-277947 ( 277947 )|
|net carrying amount|$ 1447053|
|equity component net of taxes|$ 283638|
as noted above , on november 18 , 2010 , the company executed separate , privately-negotiated exchange agreements , and the company retired $ 450.0 million in aggregate principal of its original notes for $ 450.0 million in aggregate principal of exchange notes . the company accounted for this retirement under the derecognition provisions of subtopic asc 470-20-40 , which requires the allocation of the fair value of the consideration transferred ( i.e. , the exchange notes ) between the liability and equity components of the original instrument to determine the gain or loss on the transaction . in connection with this transaction , the company recorded a loss on extinguishment of debt of $ 29.9 million , which is comprised of the loss on the debt itself of $ 26.0 million and the write-off of the pro-rata amount of debt issuance costs of $ 3.9 million allocated to the notes retired . the loss on the debt itself is calculated as the difference between the fair value of the liability component of the original notes 2019 amount retired immediately before the exchange and its related carrying value immediately before the exchange . the fair value of the liability component was calculated similar to the description above for initially recording the original notes under fsp apb 14-1 , and the company used an effective interest rate of 5.46% ( 5.46 % ) , representing the estimated nonconvertible debt borrowing rate with a three year maturity at the measurement date . in addition , under this accounting standard , a portion of the fair value of the consideration transferred is allocated to the reacquisition of the equity component , which is the difference between the fair value of the consideration transferred and the fair value of the liability component immediately before the exchange . as a result , $ 39.9 million was allocated to the reacquisition of the equity component of the original instrument , which is recorded net of deferred taxes within capital in excess of par value . since the exchange notes have the same characteristics as the original notes and can be settled in cash or a combination of cash and shares of common stock ( i.e. , partial settlement ) , the company is required to account for the liability and equity components of its exchange notes separately to reflect its nonconvertible debt borrowing rate . the company estimated the fair value of the exchange notes liability component to be $ 349.0 million using a discounted cash flow technique . key inputs used to estimate the fair value of the liability component included the company 2019s estimated nonconvertible debt borrowing rate as of november 18 , 2010 ( the date the convertible notes were issued ) , the amount and timing of cash flows , and the expected life of the exchange notes . the company used an estimated effective interest rate of 6.52% ( 6.52 % ) . the excess of the fair value transferred over the estimated fair value of the liability component totaling $ 97.3 million was allocated to the conversion feature as an increase to capital in excess of par value with a corresponding offset recognized as a discount to reduce the net carrying value of the exchange notes . as a result of the fair value of the exchange notes being lower than the exchange notes principal value , there is an additional discount on the exchange notes of $ 3.7 million at the measurement date . the total discount is being amortized to interest expense over a six-year period ending december 15 , 2016 ( the expected life of the liability component ) using the effective interest method . in addition , third-party transaction costs have been allocated to the liability and equity components based on the relative values of these components . source : hologic inc , 10-k , november 23 , 2011 powered by morningstar ae document research 2120 the information contained herein may not be copied , adapted or distributed and is not warranted to be accurate , complete or timely . the user assumes all risks for any damages or losses arising from any use of this information , except to the extent such damages or losses cannot be limited or excluded by applicable law . past financial performance is no guarantee of future results. .
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0.5689 | Context:performance graph the performance graph below shows the five-year cumulative total stockholder return on applied common stock during the period from october 28 , 2012 through october 29 , 2017 . this is compared with the cumulative total return of the standard & poor 2019s 500 stock index and the rdg semiconductor composite index over the same period . the comparison assumes $ 100 was invested on october 28 , 2012 in applied common stock and in each of the foregoing indices and assumes reinvestment of dividends , if any . dollar amounts in the graph are rounded to the nearest whole dollar . the performance shown in the graph represents past performance and should not be considered an indication of future performance . comparison of 5 year cumulative total return* among applied materials , inc. , the s&p 500 index and the rdg semiconductor composite index *assumes $ 100 invested on 10/28/12 in stock or 10/31/12 in index , including reinvestment of dividends . indexes calculated on month-end basis . copyright a9 2017 standard & poor 2019s , a division of s&p global . all rights reserved. .
||10/28/2012|10/27/2013|10/26/2014|10/25/2015|10/30/2016|10/29/2017|
|applied materials|100.00|171.03|207.01|165.34|293.64|586.91|
|s&p 500 index|100.00|127.18|149.14|156.89|163.97|202.72|
|rdg semiconductor composite index|100.00|131.94|167.25|160.80|193.36|288.96|
dividends during each of fiscal 2017 , 2016 and 2015 , applied 2019s board of directors declared four quarterly cash dividends in the amount of $ 0.10 per share . applied currently anticipates that cash dividends will continue to be paid on a quarterly basis , although the declaration of any future cash dividend is at the discretion of the board of directors and will depend on applied 2019s financial condition , results of operations , capital requirements , business conditions and other factors , as well as a determination by the board of directors that cash dividends are in the best interests of applied 2019s stockholders . 10/28/12 10/27/13 10/26/14 10/25/15 10/30/16 10/29/17 applied materials , inc . s&p 500 rdg semiconductor composite .
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17.214 | Context:management 2019s discussion and analysis the table below presents the operating results of our institutional client services segment. .
|in millions|year ended december 2012|year ended december 2011|year ended december 2010|
|fixed income currency and commodities client execution|$ 9914|$ 9018|$ 13707|
|equities client execution1|3171|3031|3231|
|commissions and fees|3053|3633|3426|
|securities services|1986|1598|1432|
|total equities|8210|8262|8089|
|total net revenues|18124|17280|21796|
|operating expenses|12480|12837|14994|
|pre-tax earnings|$ 5644|$ 4443|$ 6802|
1 . includes net revenues related to reinsurance of $ 1.08 billion , $ 880 million and $ 827 million for the years ended december 2012 , december 2011 and december 2010 , respectively . 2012 versus 2011 . net revenues in institutional client services were $ 18.12 billion for 2012 , 5% ( 5 % ) higher than 2011 . net revenues in fixed income , currency and commodities client execution were $ 9.91 billion for 2012 , 10% ( 10 % ) higher than 2011 . these results reflected strong net revenues in mortgages , which were significantly higher compared with 2011 . in addition , net revenues in credit products and interest rate products were solid and higher compared with 2011 . these increases were partially offset by significantly lower net revenues in commodities and slightly lower net revenues in currencies . although broad market concerns persisted during 2012 , fixed income , currency and commodities client execution operated in a generally improved environment characterized by tighter credit spreads and less challenging market-making conditions compared with 2011 . net revenues in equities were $ 8.21 billion for 2012 , essentially unchanged compared with 2011 . net revenues in securities services were significantly higher compared with 2011 , reflecting a gain of approximately $ 500 million on the sale of our hedge fund administration business . in addition , equities client execution net revenues were higher than 2011 , primarily reflecting significantly higher results in cash products , principally due to increased levels of client activity . these increases were offset by lower commissions and fees , reflecting lower market volumes . during 2012 , equities operated in an environment generally characterized by an increase in global equity prices and lower volatility levels . the net loss attributable to the impact of changes in our own credit spreads on borrowings for which the fair value option was elected was $ 714 million ( $ 433 million and $ 281 million related to fixed income , currency and commodities client execution and equities client execution , respectively ) for 2012 , compared with a net gain of $ 596 million ( $ 399 million and $ 197 million related to fixed income , currency and commodities client execution and equities client execution , respectively ) for 2011 . during 2012 , institutional client services operated in an environment generally characterized by continued broad market concerns and uncertainties , although positive developments helped to improve market conditions . these developments included certain central bank actions to ease monetary policy and address funding risks for european financial institutions . in addition , the u.s . economy posted stable to improving economic data , including favorable developments in unemployment and housing . these improvements resulted in tighter credit spreads , higher global equity prices and lower levels of volatility . however , concerns about the outlook for the global economy and continued political uncertainty , particularly the political debate in the united states surrounding the fiscal cliff , generally resulted in client risk aversion and lower activity levels . also , uncertainty over financial regulatory reform persisted . if these concerns and uncertainties continue over the long term , net revenues in fixed income , currency and commodities client execution and equities would likely be negatively impacted . operating expenses were $ 12.48 billion for 2012 , 3% ( 3 % ) lower than 2011 , primarily due to lower brokerage , clearing , exchange and distribution fees , and lower impairment charges , partially offset by higher net provisions for litigation and regulatory proceedings . pre-tax earnings were $ 5.64 billion in 2012 , 27% ( 27 % ) higher than 2011 . 2011 versus 2010 . net revenues in institutional client services were $ 17.28 billion for 2011 , 21% ( 21 % ) lower than 2010 . net revenues in fixed income , currency and commodities client execution were $ 9.02 billion for 2011 , 34% ( 34 % ) lower than 2010 . although activity levels during 2011 were generally consistent with 2010 levels , and results were solid during the first quarter of 2011 , the environment during the remainder of 2011 was characterized by broad market concerns and uncertainty , resulting in volatile markets and significantly wider credit spreads , which contributed to difficult market-making conditions and led to reductions in risk by us and our clients . as a result of these conditions , net revenues across the franchise were lower , including significant declines in mortgages and credit products , compared with 2010 . 54 goldman sachs 2012 annual report .
Question: net revenues in institutional client services were what in billions for 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: |
0.73426 | Context:higher average borrowings . additionally , the recapitalization that occurred late in the first quarter of 2005 resulted in a full year of interest in 2006 as compared to approximately ten months in 2005 . the increase in interest expense in 2005 as compared to 2004 also resulted from the recapitalization in 2005 . income tax expense income tax expense totaled $ 150.2 million , $ 116.1 million and $ 118.3 million for 2006 , 2005 and 2004 , respectively . this resulted in an effective tax rate of 37.2% ( 37.2 % ) , 37.2% ( 37.2 % ) and 37.6% ( 37.6 % ) for 2006 , 2005 and 2004 , respectively . net earnings net earnings totaled $ 259.1 million , $ 196.6 and $ 189.4 million for 2006 , 2005 and 2004 , respectively , or $ 1.37 , $ 1.53 and $ 1.48 per diluted share , respectively . segment results of operations transaction processing services ( in thousands ) .
||2006|2005|2004|
|processing and services revenues|$ 2458777|$ 1208430|$ 892033|
|cost of revenues|1914148|904124|667078|
|gross profit|544629|304306|224955|
|selling general and administrative expenses|171106|94889|99581|
|research and development costs|70879|85702|54038|
|operating income|$ 302644|$ 123715|$ 71336|
revenues for the transaction processing services segment are derived from three main revenue channels ; enterprise solutions , integrated financial solutions and international . revenues from transaction processing services totaled $ 2458.8 million , $ 1208.4 and $ 892.0 million for 2006 , 2005 and 2004 , respectively . the overall segment increase of $ 1250.4 million during 2006 , as compared to 2005 was primarily attributable to the certegy merger which contributed $ 1067.2 million to the overall increase . the majority of the remaining 2006 growth is attributable to organic growth within the historically owned integrated financial solutions and international revenue channels , with international including $ 31.9 million related to the newly formed business process outsourcing operation in brazil . the overall segment increase of $ 316.4 in 2005 as compared to 2004 results from the inclusion of a full year of results for the 2004 acquisitions of aurum , sanchez , kordoba , and intercept , which contributed $ 301.1 million of the increase . cost of revenues for the transaction processing services segment totaled $ 1914.1 million , $ 904.1 million and $ 667.1 million for 2006 , 2005 and 2004 , respectively . the overall segment increase of $ 1010.0 million during 2006 as compared to 2005 was primarily attributable to the certegy merger which contributed $ 848.2 million to the increase . gross profit as a percentage of revenues ( 201cgross margin 201d ) was 22.2% ( 22.2 % ) , 25.2% ( 25.2 % ) and 25.2% ( 25.2 % ) for 2006 , 2005 and 2004 , respectively . the decrease in gross profit in 2006 as compared to 2005 is primarily due to the february 1 , 2006 certegy merger , which businesses typically have lower margins than those of the historically owned fis businesses . incremental intangible asset amortization relating to the certegy merger also contributed to the decrease in gross margin . included in cost of revenues was depreciation and amortization of $ 272.4 million , $ 139.8 million , and $ 94.6 million for 2006 , 2005 and 2004 , respectively . selling , general and administrative expenses totaled $ 171.1 million , $ 94.9 million and $ 99.6 million for 2006 , 2005 and 2004 , respectively . the increase in 2006 compared to 2005 is primarily attributable to the certegy merger which contributed $ 73.7 million to the overall increase of $ 76.2 million . the decrease of $ 4.7 million in 2005 as compared to 2004 is primarily attributable to the effect of acquisition related costs in 2004 . included in selling , general and administrative expenses was depreciation and amortization of $ 11.0 million , $ 9.1 million and $ 2.3 million for 2006 , 2005 and 2004 , respectively. .
Question: what was the percentage change in operating income from 2004 to 2005? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-214.6 | Context:31mar201122064257 positions which were required to be capitalized . there are no positions which we anticipate could change materially within the next twelve months . liquidity and capital resources .
|( dollars in thousands )|fiscal years ended october 1 2010|fiscal years ended october 2 2009|fiscal years ended october 3 2008|
|cash and cash equivalents at beginning of period|$ 364221|$ 225104|$ 241577|
|net cash provided by operating activities|222962|218805|182673|
|net cash used in investing activities|-95329 ( 95329 )|-49528 ( 49528 )|-94959 ( 94959 )|
|net cash used in financing activities|-38597 ( 38597 )|-30160 ( 30160 )|-104187 ( 104187 )|
|cash and cash equivalents at end of period ( 1 )|$ 453257|$ 364221|$ 225104|
( 1 ) does not include restricted cash balances cash flow from operating activities : cash provided from operating activities is net income adjusted for certain non-cash items and changes in certain assets and liabilities . for fiscal year 2010 we generated $ 223.0 million in cash flow from operations , an increase of $ 4.2 million when compared to the $ 218.8 million generated in fiscal year 2009 . during fiscal year 2010 , net income increased by $ 42.3 million to $ 137.3 million when compared to fiscal year 2009 . despite the increase in net income , net cash provided by operating activities remained relatively consistent . this was primarily due to : 2022 fiscal year 2010 net income included a deferred tax expense of $ 38.5 million compared to a $ 24.9 million deferred tax benefit included in 2009 net income due to the release of the tax valuation allowance in fiscal year 2009 . 2022 during fiscal year 2010 , the company invested in working capital as result of higher business activity . compared to fiscal year 2009 , accounts receivable , inventory and accounts payable increased by $ 60.9 million , $ 38.8 million and $ 42.9 million , respectively . cash flow from investing activities : cash flow from investing activities consists primarily of capital expenditures and acquisitions . we had net cash outflows of $ 95.3 million in fiscal year 2010 , compared to $ 49.5 million in fiscal year 2009 . the increase is primarily due to an increase of $ 49.8 million in capital expenditures . we anticipate our capital spending to be consistent in fiscal year 2011 to maintain our projected growth rate . cash flow from financing activities : cash flows from financing activities consist primarily of cash transactions related to debt and equity . during fiscal year 2010 , we had net cash outflows of $ 38.6 million , compared to $ 30.2 million in fiscal year 2009 . during the year we had the following significant transactions : 2022 we retired $ 53.0 million in aggregate principal amount ( carrying value of $ 51.1 million ) of 2007 convertible notes for $ 80.7 million , which included a $ 29.6 million premium paid for the equity component of the instrument . 2022 we received net proceeds from employee stock option exercises of $ 40.5 million in fiscal year 2010 , compared to $ 38.7 million in fiscal year 2009 . skyworks / 2010 annual report 103 .
Question: what is the percentage change in cash flow from operations from fiscal year 2009 to fiscal year 2010 , ( in millions ) ? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.45455 | Context:2022 designate subsidiaries as unrestricted subsidiaries ; and 2022 sell certain assets or merge with or into other companies . subject to certain exceptions , the indentures governing the senior subordinated notes and the senior discount notes permit the issuers of the notes and their restricted subsidiaries to incur additional indebtedness , including secured indebtedness . in addition , the senior credit facilities require bcp crystal to maintain the following financial covenants : a maximum total leverage ratio , a maximum bank debt leverage ratio , a minimum interest coverage ratio and maximum capital expenditures limitation . the maximum consolidated net bank debt to adjusted ebitda ratio , as defined , previously required under the senior credit facilities , was eliminated when the company amended the facilities in january 2005 . as of december 31 , 2006 , the company was in compliance with all of the financial covenants related to its debt agreements . principal payments scheduled to be made on the company 2019s debt , including short term borrowings , is as follows : ( in $ millions ) .
||total ( in $ millions )|
|2007|309|
|2008|25|
|2009|50|
|2010|39|
|2011|1485|
|thereafter ( 1 )|1590|
|total|3498|
( 1 ) includes $ 2 million purchase accounting adjustment to assumed debt . 17 . benefit obligations pension obligations . pension obligations are established for benefits payable in the form of retirement , disability and surviving dependent pensions . the benefits offered vary according to the legal , fiscal and economic conditions of each country . the commitments result from participation in defined contribution and defined benefit plans , primarily in the u.s . benefits are dependent on years of service and the employee 2019s compensation . supplemental retirement benefits provided to certain employees are non-qualified for u.s . tax purposes . separate trusts have been established for some non-qualified plans . the company sponsors defined benefit pension plans in north america , europe and asia . as of december 31 , 2006 , the company 2019s u.s . qualified pension plan represented greater than 84% ( 84 % ) and 76% ( 76 % ) of celanese 2019s pension plan assets and liabilities , respectively . independent trusts or insurance companies administer the majority of these plans . pension costs under the company 2019s retirement plans are actuarially determined . the company sponsors various defined contribution plans in north america , europe , and asia covering certain employees . employees may contribute to these plans and the company will match these contributions in varying amounts . the company 2019s matching contribution to the defined contribution plans are based on specified percentages of employee contributions and aggregated $ 11 million , $ 12 million , $ 8 million and $ 3 million for the years ended december 31 , 2006 and 2005 , the nine months ended december 31 , 2004 and the three months ended march 31 , 2004 , respectively . celanese corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) .
Question: what is the percent of the principal payments scheduled after 2011 to the total amount | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
819000.0 | Context:properties 33vornado realty trust supermarkets , home improvement stores , discount apparel stores and membership warehouse clubs . tenants typically offer basic consumer necessities such as food , health and beauty aids , moderately priced clothing , building materials and home improvement supplies , and compete primarily on the basis of price and location . regional malls : the green acres mall in long island , new york contains 1.6 million square feet , and is anchored by four major department stores : sears , j.c . penney , federated department stores , doing business as macy 2019s and macy 2019s men 2019s furniture gallery . the complex also includes the plaza at green acres , a 175000 square foot strip shopping center which is anchored by wal-mart and national wholesale liquidators . the company plans to renovate the interior and exterior of the mall and construct 100000 square feet of free-standing retail space and parking decks in the complex , subject to governmental approvals . in addition , the company has entered into a ground lease with b.j . 2019s wholesale club who will construct its own free-standing store in the mall complex . the expansion and renovation are expected to be completed in 2007 . the monmouth mall in eatontown , new jersey , owned 50% ( 50 % ) by the company , contains 1.4 million square feet and is anchored by four department stores ; macy 2019s , lord & taylor , j.c . penney and boscovs , three of which own their stores aggregating 719000 square feet . the joint venture plans to construct 80000 square feet of free-standing retail space in the mall complex , subject to governmental approvals . the expansion is expected to be completed in 2007 . the broadway mall in hicksville , long island , new york , contains 1.2 million square feet and is anchored by macy 2019s , ikea , multiplex cinema and target , which owns its store containing 141000 square feet . the bergen mall in paramus , new jersey , as currently exists , contains 900000 square feet . the company plans to demolish approximately 300000 square feet and construct approximately 580000 square feet of retail space , which will bring the total square footage of the mall to approximately 1360000 , including 180000 square feet to be built by target on land leased from the company . as of december 31 , 2005 , the company has taken 480000 square feet out of service for redevelopment and leased 236000 square feet to century 21 and whole foods . all of the foregoing is subject to governmental approvals . the expansion and renovations , as planned , are expected to be completed in 2008 . the montehiedra mall in san juan , puerto rico , contains 563000 square feet and is anchored by home depot , kmart , and marshalls . the south hills mall in poughkeepsie , new york , contains 668000 square feet and is anchored by kmart and burlington coat factory . the company plans to redevelop and retenant the mall , subject to governmental approvals . the las catalinas mall in san juan , puerto rico , contains 495000 square feet and is anchored by kmart and sears , which owns its 140000 square foot store . occupancy and average annual base rent per square foot : at december 31 , 2005 , the aggregate occupancy rate for the 16169000 square feet of retail properties was 95.6% ( 95.6 % ) . strip shopping centers : average annual rentable base rent as of december 31 , square feet occupancy rate per square foot .
|as of december 31,|rentable square feet|occupancy rate|average annual base rent per square foot|
|2005|10750000|95.5% ( 95.5 % )|$ 12.07|
|2004|9931000|94.5% ( 94.5 % )|12.00|
|2003|8798000|92.3% ( 92.3 % )|11.91|
|2002|9295000|85.7% ( 85.7 % )|11.11|
|2001|9008000|89.0% ( 89.0 % )|10.60|
.
Question: in rentable square , what was the change between 2005 and 2004? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.83436 | Context:in addition to generating sales of our products , our worldwide full-price stores set , reinforce and capitalize on the image of our brands . our stores range in size from approximately 800 to over 37500 square feet . these full- price stores are situated in major upscale street locations and upscale regional malls , generally in large urban markets . we generally lease our stores for initial periods ranging from 5 to 10 years with renewal options . we extend our reach to additional consumer groups through our 163 polo ralph lauren factory stores worldwide . during fiscal 2009 , we added 5 new polo ralph lauren factory stores , net . our factory stores are generally located in outlet malls . we operated the following factory retail stores as of march 28 , 2009 : factory retail stores location ralph lauren .
|location|polo ralph lauren|
|united states|136|
|europe|23|
|japan|4|
|total|163|
2022 polo ralph lauren domestic factory stores offer selections of our menswear , womenswear , children 2019s apparel , accessories , home furnishings and fragrances . ranging in size from approximately 2700 to 20000 square feet , with an average of approximately 9200 square feet , these stores are principally located in major outlet centers in 36 states and puerto rico . 2022 european factory stores offer selections of our menswear , womenswear , children 2019s apparel , accessories , home furnishings and fragrances . ranging in size from approximately 2300 to 10500 square feet , with an average of approximately 6500 square feet , these stores are located in 9 countries , principally in major outlet centers . 2022 japanese factory stores offer selections of our menswear , womenswear , children 2019s apparel , accessories , home furnishings and fragrances . ranging in size from approximately 1500 to 12000 square feet , with an average of approximately 7400 square feet , these stores are located in 3 provinces , principally in major outlet centers . factory stores obtain products from our suppliers , our product licensing partners and our retail stores . ralphlauren.com and rugby.com in addition to our stores , our retail segment sells products online through our e-commerce websites , ralphlauren.com ( http://www.ralphlauren.com ) and rugby.com ( http://www.rugby.com ) . ralphlauren.com offers our customers access to the full breadth of ralph lauren apparel , accessories and home products , allows us to reach retail customers on a multi-channel basis and reinforces the luxury image of our brands . ralphlauren.com averaged 2.9 million unique visitors a month and acquired approximately 350000 new customers , resulting in 1.7 million total customers in fiscal 2009 . in august 2008 , the company launched rugby.com , its second e-commerce website . rugby.com offers clothing and accessories for purchase 2014 previously only available at rugby stores 2014 along with style tips , unique videos and blog-based content . rugby.com offers an extensive array of rugby products for young men and women within a full lifestyle destination . our licensing segment through licensing alliances , we combine our consumer insight , design , and marketing skills with the specific product or geographic competencies of our licensing partners to create and build new businesses . we generally seek out licensing partners who : 2022 are leaders in their respective markets ; 2022 contribute the majority of the product development costs; .
Question: what percentage of factory retail stores as of march 28 , 2009 were located in the united states? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
198.9 | Context:item 7 . management 2019s discussion and analysis of financial condition and results of operations the following discussion of historical results of operations and financial condition should be read in conjunction with the audited financial statements and the notes thereto which appear elsewhere in this report . overview on april 12 , 1999 , pca acquired the containerboard and corrugated products business of pactiv corporation ( the 201cgroup 201d ) , formerly known as tenneco packaging inc. , a wholly owned subsidiary of tenneco , inc . the group operated prior to april 12 , 1999 as a division of pactiv , and not as a separate , stand-alone entity . from its formation in january 1999 and through the closing of the acquisition on april 12 , 1999 , pca did not have any significant operations . the april 12 , 1999 acquisition was accounted for using historical values for the contributed assets . purchase accounting was not applied because , under the applicable accounting guidance , a change of control was deemed not to have occurred as a result of the participating veto rights held by pactiv after the closing of the transactions under the terms of the stockholders agreement entered into in connection with the transactions . results of operations year ended december 31 , 2005 compared to year ended december 31 , 2004 the historical results of operations of pca for the years ended december , 31 2005 and 2004 are set forth the below : for the year ended december 31 , ( in millions ) 2005 2004 change .
|( in millions )|for the year ended december 31 , 2005|for the year ended december 31 , 2004|change|
|net sales|$ 1993.7|$ 1890.1|$ 103.6|
|income before interest and taxes|$ 116.1|$ 140.5|$ -24.4 ( 24.4 )|
|interest expense net|-28.1 ( 28.1 )|-29.6 ( 29.6 )|1.5|
|income before taxes|88.0|110.9|-22.9 ( 22.9 )|
|provision for income taxes|-35.4 ( 35.4 )|-42.2 ( 42.2 )|6.8|
|net income|$ 52.6|$ 68.7|$ -16.1 ( 16.1 )|
net sales net sales increased by $ 103.6 million , or 5.5% ( 5.5 % ) , for the year ended december 31 , 2005 from the year ended december 31 , 2004 . net sales increased primarily due to increased sales prices and volumes of corrugated products compared to 2004 . total corrugated products volume sold increased 4.2% ( 4.2 % ) to 31.2 billion square feet in 2005 compared to 29.9 billion square feet in 2004 . on a comparable shipment-per-workday basis , corrugated products sales volume increased 4.6% ( 4.6 % ) in 2005 from 2004 . excluding pca 2019s acquisition of midland container in april 2005 , corrugated products volume was 3.0% ( 3.0 % ) higher in 2005 than 2004 and up 3.4% ( 3.4 % ) compared to 2004 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 2005 had one less workday ( 250 days ) , those days not falling on a weekend or holiday , than 2004 ( 251 days ) . containerboard sales volume to external domestic and export customers decreased 12.2% ( 12.2 % ) to 417000 tons for the year ended december 31 , 2005 from 475000 tons in 2004. .
Question: in millions , what was the total income before taxes in 2005 and 2004? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.90147 | Context:mastercard incorporated notes to consolidated financial statements 2014 ( continued ) ( in thousands , except percent and per share data ) the company does not make any contributions to its postretirement plan other than funding benefits payments . the following table summarizes expected net benefit payments from the company 2019s general assets through 2019 : benefit payments expected subsidy receipts benefit payments .
||benefit payments|expected subsidy receipts|net benefit payments|
|2010|$ 2714|$ 71|$ 2643|
|2011|3028|91|2937|
|2012|3369|111|3258|
|2013|3660|134|3526|
|2014|4019|151|3868|
|2015 2013 2019|22686|1071|21615|
the company provides limited postemployment benefits to eligible former u.s . employees , primarily severance under a formal severance plan ( the 201cseverance plan 201d ) . the company accounts for severance expense by accruing the expected cost of the severance benefits expected to be provided to former employees after employment over their relevant service periods . the company updates the assumptions in determining the severance accrual by evaluating the actual severance activity and long-term trends underlying the assumptions . as a result of updating the assumptions , the company recorded incremental severance expense ( benefit ) related to the severance plan of $ 3471 , $ 2643 and $ ( 3418 ) , respectively , during the years 2009 , 2008 and 2007 . these amounts were part of total severance expenses of $ 135113 , $ 32997 and $ 21284 in 2009 , 2008 and 2007 , respectively , included in general and administrative expenses in the accompanying consolidated statements of operations . note 14 . debt on april 28 , 2008 , the company extended its committed unsecured revolving credit facility , dated as of april 28 , 2006 ( the 201ccredit facility 201d ) , for an additional year . the new expiration date of the credit facility is april 26 , 2011 . the available funding under the credit facility will remain at $ 2500000 through april 27 , 2010 and then decrease to $ 2000000 during the final year of the credit facility agreement . other terms and conditions in the credit facility remain unchanged . the company 2019s option to request that each lender under the credit facility extend its commitment was provided pursuant to the original terms of the credit facility agreement . borrowings under the facility are available to provide liquidity in the event of one or more settlement failures by mastercard international customers and , subject to a limit of $ 500000 , for general corporate purposes . the facility fee and borrowing cost are contingent upon the company 2019s credit rating . at december 31 , 2009 , the facility fee was 7 basis points on the total commitment , or approximately $ 1774 annually . interest on borrowings under the credit facility would be charged at the london interbank offered rate ( libor ) plus an applicable margin of 28 basis points or an alternative base rate , and a utilization fee of 10 basis points would be charged if outstanding borrowings under the facility exceed 50% ( 50 % ) of commitments . at the inception of the credit facility , the company also agreed to pay upfront fees of $ 1250 and administrative fees of $ 325 , which are being amortized over five years . facility and other fees associated with the credit facility totaled $ 2222 , $ 2353 and $ 2477 for each of the years ended december 31 , 2009 , 2008 and 2007 , respectively . mastercard was in compliance with the covenants of the credit facility and had no borrowings under the credit facility at december 31 , 2009 or december 31 , 2008 . the majority of credit facility lenders are members or affiliates of members of mastercard international . in june 1998 , mastercard international issued ten-year unsecured , subordinated notes ( the 201cnotes 201d ) paying a fixed interest rate of 6.67% ( 6.67 % ) per annum . mastercard repaid the entire principal amount of $ 80000 on june 30 , 2008 pursuant to the terms of the notes . the interest expense on the notes was $ 2668 and $ 5336 for each of the years ended december 31 , 2008 and 2007 , respectively. .
Question: what was the ratio of the expected net benefit payments of 2011 to 2012 | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.11667 | Context:a valuation allowance totaling $ 45.4 million , $ 43.9 million and $ 40.4 million as of 2013 , 2012 and 2011 year end , respectively , has been established for deferred income tax assets primarily related to certain subsidiary loss carryforwards that may not be realized . realization of the net deferred income tax assets is dependent on generating sufficient taxable income prior to their expiration . although realization is not assured , management believes it is more- likely-than-not that the net deferred income tax assets will be realized . the amount of the net deferred income tax assets considered realizable , however , could change in the near term if estimates of future taxable income during the carryforward period fluctuate . the following is a reconciliation of the beginning and ending amounts of unrecognized tax benefits for 2013 , 2012 and ( amounts in millions ) 2013 2012 2011 .
|( amounts in millions )|2013|2012|2011|
|unrecognized tax benefits at beginning of year|$ 6.8|$ 11.0|$ 11.1|
|gross increases 2013 tax positions in prior periods|1.5|0.7|0.5|
|gross decreases 2013 tax positions in prior periods|-1.6 ( 1.6 )|-4.9 ( 4.9 )|-0.4 ( 0.4 )|
|gross increases 2013 tax positions in the current period|0.5|1.2|2.8|
|settlements with taxing authorities|-2.1 ( 2.1 )|2013|-1.2 ( 1.2 )|
|lapsing of statutes of limitations|-0.5 ( 0.5 )|-1.2 ( 1.2 )|-1.8 ( 1.8 )|
|unrecognized tax benefits at end of year|$ 4.6|$ 6.8|$ 11.0|
of the $ 4.6 million , $ 6.8 million and $ 11.0 million of unrecognized tax benefits as of 2013 , 2012 and 2011 year end , respectively , approximately $ 4.6 million , $ 4.1 million and $ 9.1 million , respectively , would impact the effective income tax rate if recognized . interest and penalties related to unrecognized tax benefits are recorded in income tax expense . during 2013 and 2012 , the company reversed a net $ 0.6 million and $ 0.5 million , respectively , of interest and penalties to income associated with unrecognized tax benefits . as of 2013 , 2012 and 2011 year end , the company has provided for $ 0.9 million , $ 1.6 million and $ 1.6 million , respectively , of accrued interest and penalties related to unrecognized tax benefits . the unrecognized tax benefits and related accrued interest and penalties are included in 201cother long-term liabilities 201d on the accompanying consolidated balance sheets . snap-on and its subsidiaries file income tax returns in the united states and in various state , local and foreign jurisdictions . it is reasonably possible that certain unrecognized tax benefits may either be settled with taxing authorities or the statutes of limitations for such items may lapse within the next 12 months , causing snap-on 2019s gross unrecognized tax benefits to decrease by a range of zero to $ 1.1 million . over the next 12 months , snap-on anticipates taking certain tax positions on various tax returns for which the related tax benefit does not meet the recognition threshold . accordingly , snap-on 2019s gross unrecognized tax benefits may increase by a range of zero to $ 0.8 million over the next 12 months for uncertain tax positions expected to be taken in future tax filings . with few exceptions , snap-on is no longer subject to u.s . federal and state/local income tax examinations by tax authorities for years prior to 2008 , and snap-on is no longer subject to non-u.s . income tax examinations by tax authorities for years prior to 2006 . the undistributed earnings of all non-u.s . subsidiaries totaled $ 556.0 million , $ 492.2 million and $ 416.4 million as of 2013 , 2012 and 2011 year end , respectively . snap-on has not provided any deferred taxes on these undistributed earnings as it considers the undistributed earnings to be permanently invested . determination of the amount of unrecognized deferred income tax liability related to these earnings is not practicable . 2013 annual report 83 .
Question: from 2011 to 2013 what was the average gross increases 2013 tax positions in prior periods | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
148.27586 | Context:humana inc . notes to consolidated financial statements 2014 ( continued ) 15 . stockholders 2019 equity dividends the following table provides details of dividend payments , excluding dividend equivalent rights , in 2016 , 2017 , and 2018 under our board approved quarterly cash dividend policy : payment amount per share amount ( in millions ) .
|paymentdate|amountper share|totalamount ( in millions )|
|2016|$ 1.16|$ 172|
|2017|$ 1.49|$ 216|
|2018|$ 1.90|$ 262|
on november 2 , 2018 , the board declared a cash dividend of $ 0.50 per share that was paid on january 25 , 2019 to stockholders of record on december 31 , 2018 , for an aggregate amount of $ 68 million . declaration and payment of future quarterly dividends is at the discretion of our board and may be adjusted as business needs or market conditions change . in february 2019 , the board declared a cash dividend of $ 0.55 per share payable on april 26 , 2019 to stockholders of record on march 29 , 2019 . stock repurchases our board of directors may authorize the purchase of our common shares . under our share repurchase authorization , shares may have been purchased from time to time at prevailing prices in the open market , by block purchases , through plans designed to comply with rule 10b5-1 under the securities exchange act of 1934 , as amended , or in privately-negotiated transactions ( including pursuant to accelerated share repurchase agreements with investment banks ) , subject to certain regulatory restrictions on volume , pricing , and timing . on february 14 , 2017 , our board of directors authorized the repurchase of up to $ 2.25 billion of our common shares expiring on december 31 , 2017 , exclusive of shares repurchased in connection with employee stock plans . on february 16 , 2017 , we entered into an accelerated share repurchase agreement , the february 2017 asr , with goldman , sachs & co . llc , or goldman sachs , to repurchase $ 1.5 billion of our common stock as part of the $ 2.25 billion share repurchase authorized on february 14 , 2017 . on february 22 , 2017 , we made a payment of $ 1.5 billion to goldman sachs from available cash on hand and received an initial delivery of 5.83 million shares of our common stock from goldman sachs based on the then current market price of humana common stock . the payment to goldman sachs was recorded as a reduction to stockholders 2019 equity , consisting of a $ 1.2 billion increase in treasury stock , which reflected the value of the initial 5.83 million shares received upon initial settlement , and a $ 300 million decrease in capital in excess of par value , which reflected the value of stock held back by goldman sachs pending final settlement of the february 2017 asr . upon settlement of the february 2017 asr on august 28 , 2017 , we received an additional 0.84 million shares as determined by the average daily volume weighted-average share price of our common stock during the term of the agreement of $ 224.81 , less a discount and subject to adjustments pursuant to the terms and conditions of the february 2017 asr , bringing the total shares received under this program to 6.67 million . in addition , upon settlement we reclassified the $ 300 million value of stock initially held back by goldman sachs from capital in excess of par value to treasury stock . subsequent to settlement of the february 2017 asr , we repurchased an additional 3.04 million shares in the open market , utilizing the remaining $ 750 million of the $ 2.25 billion authorization prior to expiration . on december 14 , 2017 , our board of directors authorized the repurchase of up to $ 3.0 billion of our common shares expiring on december 31 , 2020 , exclusive of shares repurchased in connection with employee stock plans. .
Question: what was the amount of shares paid out in 2016 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: |
yes | Context:technical and research personnel and lab facilities , and significantly expanded the portfolio of patents available to us via license and through a cooperative development program . in addition , we have acquired a 20 percent interest in grt , inc . the gtftm technology is protected by an intellectual property protection program . the u.s . has granted 17 patents for the technology , with another 22 pending . worldwide , there are over 300 patents issued or pending , covering over 100 countries including regional and direct foreign filings . another innovative technology that we are developing focuses on reducing the processing and transportation costs of natural gas by artificially creating natural gas hydrates , which are more easily transportable than natural gas in its gaseous form . much like lng , gas hydrates would then be regasified upon delivery to the receiving market . we have an active pilot program in place to test and further develop a proprietary natural gas hydrates manufacturing system . the above discussion of the integrated gas segment contains forward-looking statements with respect to the possible expansion of the lng production facility . factors that could potentially affect the possible expansion of the lng production facility include partner and government approvals , access to sufficient natural gas volumes through exploration or commercial negotiations with other resource owners and access to sufficient regasification capacity . the foregoing factors ( among others ) could cause actual results to differ materially from those set forth in the forward-looking statements . refining , marketing and transportation we have refining , marketing and transportation operations concentrated primarily in the midwest , upper great plains , gulf coast and southeast regions of the u.s . we rank as the fifth largest crude oil refiner in the u.s . and the largest in the midwest . our operations include a seven-plant refining network and an integrated terminal and transportation system which supplies wholesale and marathon-brand customers as well as our own retail operations . our wholly-owned retail marketing subsidiary speedway superamerica llc ( 201cssa 201d ) is the third largest chain of company-owned and -operated retail gasoline and convenience stores in the u.s . and the largest in the midwest . refining we own and operate seven refineries with an aggregate refining capacity of 1.188 million barrels per day ( 201cmmbpd 201d ) of crude oil as of december 31 , 2009 . during 2009 , our refineries processed 957 mbpd of crude oil and 196 mbpd of other charge and blend stocks . the table below sets forth the location and daily crude oil refining capacity of each of our refineries as of december 31 , 2009 . crude oil refining capacity ( thousands of barrels per day ) 2009 .
|( thousands of barrels per day )|2009|
|garyville louisiana|436|
|catlettsburg kentucky|212|
|robinson illinois|206|
|detroit michigan|106|
|canton ohio|78|
|texas city texas|76|
|st . paul park minnesota|74|
|total|1188|
our refineries include crude oil atmospheric and vacuum distillation , fluid catalytic cracking , catalytic reforming , desulfurization and sulfur recovery units . the refineries process a wide variety of crude oils and produce numerous refined products , ranging from transportation fuels , such as reformulated gasolines , blend- grade gasolines intended for blending with fuel ethanol and ultra-low sulfur diesel fuel , to heavy fuel oil and asphalt . additionally , we manufacture aromatics , cumene , propane , propylene , sulfur and maleic anhydride . our garyville , louisiana , refinery is located along the mississippi river in southeastern louisiana between new orleans and baton rouge . the garyville refinery predominantly processes heavy sour crude oil into products .
Question: did the refineries in detroit michigan process more crude than those in canton ohio? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
1.67857 | Context:the fair value of the interest agreements at december 31 , 2007 and december 31 , 2006 was $ 3 million and $ 1 million , respectively . the company is exposed to credit loss in the event of nonperformance by the counterparties to its swap contracts . the company minimizes its credit risk on these transactions by only dealing with leading , creditworthy financial institutions and does not anticipate nonperformance . in addition , the contracts are distributed among several financial institutions , all of whom presently have investment grade credit ratings , thus minimizing credit risk concentration . stockholders 2019 equity derivative instruments activity , net of tax , included in non-owner changes to equity within the consolidated statements of stockholders 2019 equity for the years ended december 31 , 2007 and 2006 is as follows: .
||2007|2006|2005|
|balance at january 1|$ 16|$ 2|$ -272 ( 272 )|
|increase ( decrease ) in fair value|-6 ( 6 )|75|28|
|reclassifications to earnings|-10 ( 10 )|-61 ( 61 )|246|
|balance at december 31|$ 2014|$ 16|$ 2|
net investment in foreign operations hedge at december 31 , 2007 and 2006 , the company did not have any hedges of foreign currency exposure of net investments in foreign operations . investments hedge during the first quarter of 2006 , the company entered into a zero-cost collar derivative ( the 201csprint nextel derivative 201d ) to protect itself economically against price fluctuations in its 37.6 million shares of sprint nextel corporation ( 201csprint nextel 201d ) non-voting common stock . during the second quarter of 2006 , as a result of sprint nextel 2019s spin-off of embarq corporation through a dividend to sprint nextel shareholders , the company received approximately 1.9 million shares of embarq corporation . the floor and ceiling prices of the sprint nextel derivative were adjusted accordingly . the sprint nextel derivative was not designated as a hedge under the provisions of sfas no . 133 , 201caccounting for derivative instruments and hedging activities . 201d accordingly , to reflect the change in fair value of the sprint nextel derivative , the company recorded a net gain of $ 99 million for the year ended december 31 , 2006 , included in other income ( expense ) in the company 2019s consolidated statements of operations . in december 2006 , the sprint nextel derivative was terminated and settled in cash and the 37.6 million shares of sprint nextel were converted to common shares and sold . the company received aggregate cash proceeds of approximately $ 820 million from the settlement of the sprint nextel derivative and the subsequent sale of the 37.6 million sprint nextel shares . the company recognized a loss of $ 126 million in connection with the sale of the remaining shares of sprint nextel common stock . as described above , the company recorded a net gain of $ 99 million in connection with the sprint nextel derivative . prior to the merger of sprint corporation ( 201csprint 201d ) and nextel communications , inc . ( 201cnextel 201d ) , the company had entered into variable share forward purchase agreements ( the 201cvariable forwards 201d ) to hedge its nextel common stock . the company did not designate the variable forwards as a hedge of the sprint nextel shares received as a result of the merger . accordingly , the company recorded $ 51 million of gains for the year ended december 31 , 2005 reflecting the change in value of the variable forwards . the variable forwards were settled during the fourth quarter of 2005 . fair value of financial instruments the company 2019s financial instruments include cash equivalents , sigma fund investments , short-term investments , accounts receivable , long-term finance receivables , accounts payable , accrued liabilities , derivatives and other financing commitments . the company 2019s sigma fund and investment portfolios and derivatives are recorded in the company 2019s consolidated balance sheets at fair value . all other financial instruments , with the exception of long-term debt , are carried at cost , which is not materially different than the instruments 2019 fair values. .
Question: what is the percent change in increase of fair value between 2005 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: |
yes | Context:the goldman sachs group , inc . and subsidiaries management 2019s discussion and analysis the risk committee of the board and the risk governance committee ( through delegated authority from the firmwide risk committee ) approve market risk limits and sub-limits at firmwide , business and product levels , consistent with our risk appetite statement . in addition , market risk management ( through delegated authority from the risk governance committee ) sets market risk limits and sub-limits at certain product and desk levels . the purpose of the firmwide limits is to assist senior management in controlling our overall risk profile . sub-limits are set below the approved level of risk limits . sub-limits set the desired maximum amount of exposure that may be managed by any particular business on a day-to-day basis without additional levels of senior management approval , effectively leaving day-to-day decisions to individual desk managers and traders . accordingly , sub-limits are a management tool designed to ensure appropriate escalation rather than to establish maximum risk tolerance . sub-limits also distribute risk among various businesses in a manner that is consistent with their level of activity and client demand , taking into account the relative performance of each area . our market risk limits are monitored daily by market risk management , which is responsible for identifying and escalating , on a timely basis , instances where limits have been exceeded . when a risk limit has been exceeded ( e.g. , due to positional changes or changes in market conditions , such as increased volatilities or changes in correlations ) , it is escalated to senior managers in market risk management and/or the appropriate risk committee . such instances are remediated by an inventory reduction and/or a temporary or permanent increase to the risk limit . model review and validation our var and stress testing models are regularly reviewed by market risk management and enhanced in order to incorporate changes in the composition of positions included in our market risk measures , as well as variations in market conditions . prior to implementing significant changes to our assumptions and/or models , model risk management performs model validations . significant changes to our var and stress testing models are reviewed with our chief risk officer and chief financial officer , and approved by the firmwide risk committee . see 201cmodel risk management 201d for further information about the review and validation of these models . systems we have made a significant investment in technology to monitor market risk including : 2030 an independent calculation of var and stress measures ; 2030 risk measures calculated at individual position levels ; 2030 attribution of risk measures to individual risk factors of each position ; 2030 the ability to report many different views of the risk measures ( e.g. , by desk , business , product type or entity ) ; 2030 the ability to produce ad hoc analyses in a timely manner . metrics we analyze var at the firmwide level and a variety of more detailed levels , including by risk category , business , and region . the tables below present average daily var and period-end var , as well as the high and low var for the period . diversification effect in the tables below represents the difference between total var and the sum of the vars for the four risk categories . this effect arises because the four market risk categories are not perfectly correlated . the table below presents average daily var by risk category. .
|$ in millions|year ended december 2017|year ended december 2016|year ended december 2015|
|interest rates|$ 40|$ 45|$ 47|
|equity prices|24|25|26|
|currency rates|12|21|30|
|commodity prices|13|17|20|
|diversification effect|-35 ( 35 )|-45 ( 45 )|-47 ( 47 )|
|total|$ 54|$ 63|$ 76|
our average daily var decreased to $ 54 million in 2017 from $ 63 million in 2016 , due to reductions across all risk categories , partially offset by a decrease in the diversification effect . the overall decrease was primarily due to lower levels of volatility . our average daily var decreased to $ 63 million in 2016 from $ 76 million in 2015 , due to reductions across all risk categories , partially offset by a decrease in the diversification effect . the overall decrease was primarily due to reduced exposures . goldman sachs 2017 form 10-k 91 .
Question: in millions for 2017 , was the average daily var by risk category for impact of interest rates greater than equity prices? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-558.0 | Context:entergy corporation and subsidiaries management 2019s financial discussion and analysis the miso deferral variance is primarily due to the deferral in 2014 of non-fuel miso-related charges , as approved by the lpsc and the mpsc . the deferral of non-fuel miso-related charges is partially offset in other operation and maintenance expenses . see note 2 to the financial statements for further discussion of the recovery of non-fuel miso-related charges . the waterford 3 replacement steam generator provision is due to a regulatory charge of approximately $ 32 million recorded in 2015 related to the uncertainty associated with the resolution of the waterford 3 replacement steam generator project . see note 2 to the financial statements for a discussion of the waterford 3 replacement steam generator prudence review proceeding . entergy wholesale commodities following is an analysis of the change in net revenue comparing 2015 to 2014 . amount ( in millions ) .
||amount ( in millions )|
|2014 net revenue|$ 2224|
|nuclear realized price changes|-310 ( 310 )|
|vermont yankee shutdown in december 2014|-305 ( 305 )|
|nuclear volume excluding vermont yankee effect|20|
|other|37|
|2015 net revenue|$ 1666|
as shown in the table above , net revenue for entergy wholesale commodities decreased by approximately $ 558 million in 2015 primarily due to : 2022 lower realized wholesale energy prices , primarily due to significantly higher northeast market power prices in 2014 , and lower capacity prices in 2015 ; and 2022 a decrease in net revenue as a result of vermont yankee ceasing power production in december 2014 . the decrease was partially offset by higher volume in the entergy wholesale commodities nuclear fleet , excluding vermont yankee , resulting from fewer refueling outage days in 2015 as compared to 2014 , partially offset by more unplanned outage days in 2015 as compared to 2014. .
Question: what was the percent of the decline in the net revenue in 2015 | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.13027 | Context:management 2019s discussion and analysis jpmorgan chase & co./2009 annual report 130 the following histogram illustrates the daily market risk 2013related gains and losses for ib and consumer/cio positions for 2009 . the chart shows that the firm posted market risk 2013related gains on 227 out of 261 days in this period , with 69 days exceeding $ 160 million . the inset graph looks at those days on which the firm experienced losses and depicts the amount by which the 95% ( 95 % ) confidence level var exceeded the actual loss on each of those days . losses were sustained on 34 days during 2009 and exceeded the var measure on one day due to high market volatility in the first quarter of 2009 . under the 95% ( 95 % ) confidence interval , the firm would expect to incur daily losses greater than that pre- dicted by var estimates about twelve times a year . the following table provides information about the gross sensitivity of dva to a one-basis-point increase in jpmorgan chase 2019s credit spreads . this sensitivity represents the impact from a one-basis-point parallel shift in jpmorgan chase 2019s entire credit curve . as credit curves do not typically move in a parallel fashion , the sensitivity multiplied by the change in spreads at a single maturity point may not be representative of the actual revenue recognized . debit valuation adjustment sensitivity 1 basis point increase in ( in millions ) jpmorgan chase credit spread .
|( in millions )|1 basis point increase in jpmorgan chase credit spread|
|december 31 2009|$ 39|
|december 31 2008|$ 37|
loss advisories and drawdowns loss advisories and drawdowns are tools used to highlight to senior management trading losses above certain levels and initiate discus- sion of remedies . economic value stress testing while var reflects the risk of loss due to adverse changes in normal markets , stress testing captures the firm 2019s exposure to unlikely but plausible events in abnormal markets . the firm conducts economic- value stress tests using multiple scenarios that assume credit spreads widen significantly , equity prices decline and significant changes in interest rates across the major currencies . other scenar- ios focus on the risks predominant in individual business segments and include scenarios that focus on the potential for adverse movements in complex portfolios . scenarios were updated more frequently in 2009 and , in some cases , redefined to reflect the signifi- cant market volatility which began in late 2008 . along with var , stress testing is important in measuring and controlling risk . stress testing enhances the understanding of the firm 2019s risk profile and loss potential , and stress losses are monitored against limits . stress testing is also utilized in one-off approvals and cross-business risk measurement , as well as an input to economic capital allocation . stress-test results , trends and explanations based on current market risk positions are reported to the firm 2019s senior management and to the lines of business to help them better measure and manage risks and to understand event risk 2013sensitive positions. .
Question: on what percent of trading days did the firm have market risk 2013related losses? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
2.82051 | Context:levels during 2008 , an indication that efforts to improve network operations translated into better customer service . 2022 fuel prices 2013 crude oil prices increased at a steady rate through the first seven months of 2008 , closing at a record high of $ 145.29 a barrel in early july . as the economy worsened during the third and fourth quarters , fuel prices dropped dramatically , hitting $ 33.87 per barrel in december , a near five-year low . despite these price declines toward the end of the year , our 2008 average fuel price increased by 39% ( 39 % ) and added $ 1.1 billion of operating expenses compared to 2007 . our fuel surcharge programs helped offset the impact of higher fuel prices . in addition , we reduced our consumption rate by 4% ( 4 % ) , saving approximately 58 million gallons of fuel during the year . the use of newer , more fuel efficient locomotives ; our fuel conservation programs ; improved network operations ; and a shift in commodity mix , primarily due to growth in bulk shipments , contributed to the improvement . 2022 free cash flow 2013 cash generated by operating activities totaled a record $ 4.1 billion , yielding free cash flow of $ 825 million in 2008 . free cash flow is defined as cash provided by operating activities , less cash used in investing activities and dividends paid . free cash flow is not considered a financial measure under accounting principles generally accepted in the united states ( gaap ) by sec regulation g and item 10 of sec regulation s-k . we believe free cash flow is important in evaluating our financial performance and measures our ability to generate cash without additional external financings . free cash flow should be considered in addition to , rather than as a substitute for , cash provided by operating activities . the following table reconciles cash provided by operating activities ( gaap measure ) to free cash flow ( non-gaap measure ) : millions of dollars 2008 2007 2006 .
|millions of dollars|2008|2007|2006|
|cash provided by operating activities|$ 4070|$ 3277|$ 2880|
|cash used in investing activities|-2764 ( 2764 )|-2426 ( 2426 )|-2042 ( 2042 )|
|dividends paid|-481 ( 481 )|-364 ( 364 )|-322 ( 322 )|
|free cash flow|$ 825|$ 487|$ 516|
2009 outlook 2022 safety 2013 operating a safe railroad benefits our employees , our customers , our shareholders , and the public . we will continue using a multi-faceted approach to safety , utilizing technology , risk assessment , quality control , and training and engaging our employees . we plan to continue implementation of total safety culture ( tsc ) throughout our operations . tsc , an employee-focused initiative that has helped improve safety , is a process designed to establish , maintain , and promote safety among co-workers . with respect to public safety , we will continue our efforts to maintain , upgrade , and close crossings , install video cameras on locomotives , and educate the public about crossing safety through various railroad and industry programs , along with other activities . 2022 transportation plan 2013 in 2009 , we will continue to evaluate traffic flows and network logistic patterns to identify additional opportunities to simplify operations and improve network efficiency and asset utilization . we plan to maintain adequate manpower and locomotives , and improve productivity using industrial engineering techniques . 2022 fuel prices 2013 on average , we expect fuel prices to decrease substantially from the average price we paid in 2008 . however , due to economic uncertainty , other global pressures , and weather incidents , fuel prices again could be volatile during the year . to reduce the impact of fuel price on earnings , we .
Question: what was the operating expenses in 2007 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: |
-0.04756 | Context:the aeronautics segment generally includes fewer programs that have much larger sales and operating results than programs included in the other segments . due to the large number of comparatively smaller programs in the remaining segments , the discussion of the results of operations of those business segments focuses on lines of business within the segment rather than on specific programs . the following tables of financial information and related discussion of the results of operations of our business segments are consistent with the presentation of segment information in note 5 to the financial statements . we have a number of programs that are classified by the u.s . government and cannot be specifically described . the operating results of these classified programs are included in our consolidated and business segment results , and are subjected to the same oversight and internal controls as our other programs . aeronautics our aeronautics business segment is engaged in the research , design , development , manufacture , integration , sustainment , support , and upgrade of advanced military aircraft , including combat and air mobility aircraft , unmanned air vehicles , and related technologies . key combat aircraft programs include the f-35 lightning ii , f-16 fighting falcon , and f-22 raptor fighter aircraft . key air mobility programs include the c-130j super hercules and the c-5m super galaxy . aeronautics provides logistics support , sustainment , and upgrade modification services for its aircraft . aeronautics 2019 operating results included the following : ( in millions ) 2010 2009 2008 .
|( in millions )|2010|2009|2008|
|net sales|$ 13235|$ 12201|$ 11473|
|operating profit|1502|1577|1433|
|operating margin|11.3% ( 11.3 % )|12.9% ( 12.9 % )|12.5% ( 12.5 % )|
|backlog at year-end|27500|26700|27200|
net sales for aeronautics increased by 8% ( 8 % ) in 2010 compared to 2009 . sales increased in all three lines of business during the year . the $ 800 million increase in air mobility primarily was attributable to higher volume on c-130 programs , including deliveries and support activities , as well as higher volume on the c-5 reliability enhancement and re-engining program ( rerp ) . there were 25 c-130j deliveries in 2010 compared to 16 in 2009 . the $ 179 million increase in combat aircraft principally was due to higher volume on f-35 production contracts , which partially was offset by lower volume on the f-35 sdd contract and a decline in volume on f-16 , f-22 and other combat aircraft programs . there were 20 f-16 deliveries in 2010 compared to 31 in 2009 . the $ 55 million increase in other aeronautics programs mainly was due to higher volume on p-3 and advanced development programs , which partially were offset by a decline in volume on sustainment activities . net sales for aeronautics increased by 6% ( 6 % ) in 2009 compared to 2008 . during the year , sales increased in all three lines of business . the increase of $ 296 million in air mobility 2019s sales primarily was attributable to higher volume on the c-130 programs , including deliveries and support activities . there were 16 c-130j deliveries in 2009 and 12 in 2008 . combat aircraft sales increased $ 316 million principally due to higher volume on the f-35 program and increases in f-16 deliveries , which partially were offset by lower volume on f-22 and other combat aircraft programs . there were 31 f-16 deliveries in 2009 compared to 28 in 2008 . the $ 116 million increase in other aeronautics programs mainly was due to higher volume on p-3 programs and advanced development programs , which partially were offset by declines in sustainment activities . operating profit for the segment decreased by 5% ( 5 % ) in 2010 compared to 2009 . a decline in operating profit in combat aircraft partially was offset by increases in other aeronautics programs and air mobility . the $ 149 million decrease in combat aircraft 2019s operating profit primarily was due to lower volume and a decrease in the level of favorable performance adjustments on the f-22 program , the f-35 sdd contract and f-16 and other combat aircraft programs in 2010 . these decreases more than offset increased operating profit resulting from higher volume and improved performance on f-35 production contracts in 2010 . the $ 35 million increase in other aeronautics programs mainly was attributable to higher volume and improved performance on p-3 and advanced development programs as well as an increase in the level of favorable performance adjustments on sustainment activities in 2010 . the $ 19 million increase in air mobility operating profit primarily was due to higher volume and improved performance in 2010 on c-130j support activities , which more than offset a decrease in operating profit due to a lower level of favorable performance adjustments on c-130j deliveries in 2010 . the remaining change in operating profit is attributable to an increase in other income , net between the comparable periods . aeronautics 2019 2010 operating margins have decreased when compared to 2009 . the operating margin decrease reflects the life cycles of our significant programs . specifically , aeronautics is performing more development and initial production work on the f-35 program and is performing less work on more mature programs such as the f-22 and f-16 . development and initial production contracts yield lower profits than mature full rate programs . accordingly , while net sales increased in 2010 relative to 2009 , operating profit decreased and consequently operating margins have declined. .
Question: what is the percentage change in operating income 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: |
310.0 | Context:notes to consolidated financial statements 2014 ( continued ) ucs . as of may 31 , 2009 , $ 55.0 million of the purchase price was held in escrow ( the 201cescrow account 201d ) . prior to our acquisition of ucs , the former parent company of ucs pledged the company 2019s stock as collateral for a third party loan ( 201cthe loan 201d ) that matures on september 24 , 2009 . upon repayment of this loan , the stock will be released to us and $ 35.0 million of the purchase price will be released to the seller . the remaining $ 20.0 million will remain in escrow until january 1 , 2013 , to satisfy any liabilities discovered post-closing that existed at the purchase date . the purpose of this acquisition was to establish an acquiring presence in the russian market and a foundation for other direct acquiring opportunities in central and eastern europe . the purchase price was determined by analyzing the historical and prospective financial statements and applying relevant purchase price multiples . this business acquisition was not significant to our consolidated financial statements and accordingly , we have not provided pro forma information relating to this acquisition . upon acquisition of ucs global payments assumed an indirect guarantee of the loan . in the event of a default by the third-party debtor , we would be required to transfer all of the shares of ucs to the trustee or pay the amount outstanding under the loan . at may 31 , 2009 the maximum potential amount of future payments under the guarantee was $ 44.1 million which represents the total outstanding under the loan , consisting of $ 21.8 million due and paid on june 24 , 2009 and $ 22.3 million due on september 24 , 2009 . should the third-party debtor default on the final payment , global payments would pay the total amount outstanding and seek to be reimbursed for any payments made from the $ 55 million held in the escrow account . we did not record an obligation for this guarantee because we determined that the fair value of the guarantee is de minimis . the following table summarizes the preliminary purchase price allocation ( in thousands ) : .
|total current assets|$ 10657|
|goodwill|35431|
|customer-related intangible assets|16500|
|trademark|3100|
|property and equipment|19132|
|other long-term assets|13101|
|total assets acquired|97921|
|current liabilities|-7245 ( 7245 )|
|notes payable|-8227 ( 8227 )|
|deferred income taxes and other long-term liabilities|-7449 ( 7449 )|
|total liabilities assumed|-22921 ( 22921 )|
|net assets acquired|$ 75000|
all of the goodwill associated with the acquisition is non-deductible for tax purposes . the customer-related intangible assets have amortization periods of 9 to 15 years . the trademark has an amortization period of 10 years . global payments asia-pacific philippines incorporated on september 4 , 2008 , global payments asia-pacific , limited ( 201cgpap 201d ) , the entity through which we conduct our merchant acquiring business in the asia-pacific region , indirectly acquired global payments asia- pacific philippines incorporated ( 201cgpap philippines 201d ) , a newly formed company into which hsbc asia pacific contributed its merchant acquiring business in the philippines . we own 56% ( 56 % ) of gpap and hsbc asia pacific .
Question: what will be the amortization cost in thousands each year for the trademark? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.58423 | Context:part ii were issued in an initial aggregate principal amount of $ 500 million at a 2.25% ( 2.25 % ) fixed , annual interest rate and will mature on may 1 , 2023 . the 2043 senior notes were issued in an initial aggregate principal amount of $ 500 million at a 3.625% ( 3.625 % ) fixed , annual interest rate and will mature on may 1 , 2043 . interest on the senior notes is payable semi-annually on may 1 and november 1 of each year . the issuance resulted in gross proceeds before expenses of $ 998 million . on november 1 , 2011 , we entered into a committed credit facility agreement with a syndicate of banks which provides for up to $ 1 billion of borrowings with the option to increase borrowings to $ 1.5 billion with lender approval . the facility matures november 1 , 2017 . as of and for the periods ended may 31 , 2015 and 2014 , we had no amounts outstanding under our committed credit facility . we currently have long-term debt ratings of aa- and a1 from standard and poor 2019s corporation and moody 2019s investor services , respectively . if our long- term debt ratings were to decline , the facility fee and interest rate under our committed credit facility would increase . conversely , if our long-term debt rating were to improve , the facility fee and interest rate would decrease . changes in our long-term debt rating would not trigger acceleration of maturity of any then-outstanding borrowings or any future borrowings under the committed credit facility . under this committed revolving credit facility , we have agreed to various covenants . these covenants include limits on our disposal of fixed assets , the amount of debt secured by liens we may incur , as well as a minimum capitalization ratio . in the event we were to have any borrowings outstanding under this facility and failed to meet any covenant , and were unable to obtain a waiver from a majority of the banks in the syndicate , any borrowings would become immediately due and payable . as of may 31 , 2015 , we were in full compliance with each of these covenants and believe it is unlikely we will fail to meet any of these covenants in the foreseeable future . liquidity is also provided by our $ 1 billion commercial paper program . during the year ended may 31 , 2015 , we did not issue commercial paper , and as of may 31 , 2015 , there were no outstanding borrowings under this program . we may issue commercial paper or other debt securities during fiscal 2016 depending on general corporate needs . we currently have short-term debt ratings of a1+ and p1 from standard and poor 2019s corporation and moody 2019s investor services , respectively . as of may 31 , 2015 , we had cash , cash equivalents and short-term investments totaling $ 5.9 billion , of which $ 4.2 billion was held by our foreign subsidiaries . included in cash and equivalents as of may 31 , 2015 was $ 968 million of cash collateral received from counterparties as a result of hedging activity . cash equivalents and short-term investments consist primarily of deposits held at major banks , money market funds , commercial paper , corporate notes , u.s . treasury obligations , u.s . government sponsored enterprise obligations and other investment grade fixed income securities . our fixed income investments are exposed to both credit and interest rate risk . all of our investments are investment grade to minimize our credit risk . while individual securities have varying durations , as of may 31 , 2015 the weighted average remaining duration of our short-term investments and cash equivalents portfolio was 79 days . to date we have not experienced difficulty accessing the credit markets or incurred higher interest costs . future volatility in the capital markets , however , may increase costs associated with issuing commercial paper or other debt instruments or affect our ability to access those markets . we believe that existing cash , cash equivalents , short-term investments and cash generated by operations , together with access to external sources of funds as described above , will be sufficient to meet our domestic and foreign capital needs in the foreseeable future . we utilize a variety of tax planning and financing strategies to manage our worldwide cash and deploy funds to locations where they are needed . we routinely repatriate a portion of our foreign earnings for which u.s . taxes have previously been provided . we also indefinitely reinvest a significant portion of our foreign earnings , and our current plans do not demonstrate a need to repatriate these earnings . should we require additional capital in the united states , we may elect to repatriate indefinitely reinvested foreign funds or raise capital in the united states through debt . if we were to repatriate indefinitely reinvested foreign funds , we would be required to accrue and pay additional u.s . taxes less applicable foreign tax credits . if we elect to raise capital in the united states through debt , we would incur additional interest expense . off-balance sheet arrangements in connection with various contracts and agreements , we routinely provide indemnification relating to the enforceability of intellectual property rights , coverage for legal issues that arise and other items where we are acting as the guarantor . currently , we have several such agreements in place . however , based on our historical experience and the estimated probability of future loss , we have determined that the fair value of such indemnification is not material to our financial position or results of operations . contractual obligations our significant long-term contractual obligations as of may 31 , 2015 and significant endorsement contracts , including related marketing commitments , entered into through the date of this report are as follows: .
|description of commitment ( in millions )|description of commitment 2016|description of commitment 2017|description of commitment 2018|description of commitment 2019|description of commitment 2020|description of commitment thereafter|total|
|operating leases|$ 447|$ 423|$ 371|$ 311|$ 268|$ 1154|$ 2974|
|capital leases|2|2|1|2014|2014|2014|5|
|long-term debt ( 1 )|142|77|55|36|36|1451|1797|
|endorsement contracts ( 2 )|1009|919|882|706|533|2143|6192|
|product purchase obligations ( 3 )|3735|2014|2014|2014|2014|2014|3735|
|other ( 4 )|343|152|75|72|36|92|770|
|total|$ 5678|$ 1573|$ 1384|$ 1125|$ 873|$ 4840|$ 15473|
( 1 ) the cash payments due for long-term debt include estimated interest payments . estimates of interest payments are based on outstanding principal amounts , applicable fixed interest rates or currently effective interest rates as of may 31 , 2015 ( if variable ) , timing of scheduled payments and the term of the debt obligations . ( 2 ) the amounts listed for endorsement contracts represent approximate amounts of base compensation and minimum guaranteed royalty fees we are obligated to pay athlete , sport team and league endorsers of our products . actual payments under some contracts may be higher than the amounts listed as these contracts provide for bonuses to be paid to the endorsers based upon athletic achievements and/or royalties on product sales in future periods . actual payments under some contracts may also be lower as these contracts include provisions for reduced payments if athletic performance declines in future periods . in addition to the cash payments , we are obligated to furnish our endorsers with nike product for their use . it is not possible to determine how much we will spend on this product on an annual basis as the contracts generally do not stipulate a specific amount of cash to be spent on the product . the amount of product provided to the endorsers will depend on many factors , including general playing conditions , the number of sporting events in which they participate and our own decisions regarding product and marketing initiatives . in addition , the costs to design , develop , source and purchase the products furnished to the endorsers are incurred over a period of time and are not necessarily tracked separately from similar costs incurred for products sold to customers. .
Question: what percent of the total for 2017 was due to endorsement contracts? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
48285668.4 | Context:equity compensation plan information the following table presents the equity securities available for issuance under our equity compensation plans as of december 31 , 2015 . equity compensation plan information plan category number of securities to be issued upon exercise of outstanding options , warrants and rights ( 1 ) weighted-average exercise price of outstanding options , warrants and rights ( 2 ) number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) ( a ) ( b ) ( c ) equity compensation plans approved by security holders 1424356 $ 33.90 4281952 equity compensation plans not approved by security holders ( 3 ) 2014 2014 2014 .
|plan category|number of securities to be issued upon exercise of outstanding options warrants and rights ( 1 ) ( a ) ( b )|weighted-average exercise price of outstanding optionswarrants and rights ( 2 )|number of securities remaining available for future issuance under equity compensation plans ( excluding securitiesreflected in column ( a ) ) ( c )|
|equity compensation plans approved by security holders|1424356|$ 33.90|4281952|
|equity compensation plans not approved by security holders ( 3 )|2014|2014|2014|
|total|1424356|$ 33.90|4281952|
( 1 ) includes grants made under the huntington ingalls industries , inc . 2012 long-term incentive stock plan ( the "2012 plan" ) , which was approved by our stockholders on may 2 , 2012 , and the huntington ingalls industries , inc . 2011 long-term incentive stock plan ( the "2011 plan" ) , which was approved by the sole stockholder of hii prior to its spin-off from northrop grumman corporation . of these shares , 533397 were subject to stock options and 54191 were stock rights granted under the 2011 plan . in addition , this number includes 35553 stock rights , 10279 restricted stock rights , and 790936 restricted performance stock rights granted under the 2012 plan , assuming target performance achievement . ( 2 ) this is the weighted average exercise price of the 533397 outstanding stock options only . ( 3 ) there are no awards made under plans not approved by security holders . item 13 . certain relationships and related transactions , and director independence information as to certain relationships and related transactions and director independence will be incorporated herein by reference to the proxy statement for our 2016 annual meeting of stockholders , to be filed within 120 days after the end of the company 2019s fiscal year . item 14 . principal accountant fees and services information as to principal accountant fees and services will be incorporated herein by reference to the proxy statement for our 2016 annual meeting of stockholders , to be filed within 120 days after the end of the company 2019s fiscal year. .
Question: what is the value of the number of securities to be issued on december 312015 | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
150.0 | Context:other off-balance sheet commitments lease commitments the company leases various equipment and facilities , including retail space , under noncancelable operating lease arrangements . the company does not currently utilize any other off-balance sheet financing arrangements . the major facility leases are typically for terms not exceeding 10 years and generally provide renewal options for terms not exceeding five additional years . leases for retail space are for terms ranging from five to 20 years , the majority of which are for 10 years , and often contain multi-year renewal options . as of september 29 , 2012 , the company 2019s total future minimum lease payments under noncancelable operating leases were $ 4.4 billion , of which $ 3.1 billion related to leases for retail space . rent expense under all operating leases , including both cancelable and noncancelable leases , was $ 488 million , $ 338 million and $ 271 million in 2012 , 2011 and 2010 , respectively . future minimum lease payments under noncancelable operating leases having remaining terms in excess of one year as of september 29 , 2012 , are as follows ( in millions ) : .
|2013|$ 516|
|2014|556|
|2015|542|
|2016|513|
|2017|486|
|thereafter|1801|
|total minimum lease payments|$ 4414|
other commitments as of september 29 , 2012 , the company had outstanding off-balance sheet third-party manufacturing commitments and component purchase commitments of $ 21.1 billion . in addition to the off-balance sheet commitments mentioned above , the company had outstanding obligations of $ 988 million as of september 29 , 2012 , which were comprised mainly of commitments to acquire capital assets , including product tooling and manufacturing process equipment , and commitments related to advertising , research and development , internet and telecommunications services and other obligations . contingencies the company is subject to various legal proceedings and claims that have arisen in the ordinary course of business and have not been fully adjudicated , certain of which are discussed in part i , item 3 of this form 10-k under the heading 201clegal proceedings 201d and in part i , item 1a of this form 10-k under the heading 201crisk factors . 201d in the opinion of management , there was not at least a reasonable possibility the company may have incurred a material loss , or a material loss in excess of a recorded accrual , with respect to loss contingencies . however , the outcome of litigation is inherently uncertain . therefore , although management considers the likelihood of such an outcome to be remote , if one or more of these legal matters were resolved against the company in a reporting period for amounts in excess of management 2019s expectations , the company 2019s consolidated financial statements for that reporting period could be materially adversely affected . apple inc . vs samsung electronics co. , ltd , et al . on august 24 , 2012 , a jury returned a verdict awarding the company $ 1.05 billion in its lawsuit against samsung electronics and affiliated parties in the united states district court , northern district of california , san jose division . because the award is subject to entry of final judgment and may be subject to appeal , the company has not recognized the award in its consolidated financial statements for the year ended september 29 , 2012. .
Question: what was the increase in rent expense under all operating leases , including both cancelable and noncancelable leases between 2012 and 2011 , in millions? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-0.2695 | Context:december 18 , 2007 , we issued an additional 23182197 shares of common stock to citadel . the issuances were exempt from registration pursuant to section 4 ( 2 ) of the securities act of 1933 , and each purchaser has represented to us that it is an 201caccredited investor 201d as defined in regulation d promulgated under the securities act of 1933 , and that the common stock was being acquired for investment . we did not engage in a general solicitation or advertising with regard to the issuances of the common stock and have not offered securities to the public in connection with the issuances . see item 1 . business 2014citadel investment . performance graph the following performance graph shows the cumulative total return to a holder of the company 2019s common stock , assuming dividend reinvestment , compared with the cumulative total return , assuming dividend reinvestment , of the standard & poor 2019s ( 201cs&p 201d ) 500 and the s&p super cap diversified financials during the period from december 31 , 2002 through december 31 , 2007. .
||12/02|12/03|12/04|12/05|12/06|12/07|
|e*trade financial corporation|100.00|260.29|307.61|429.22|461.32|73.05|
|s&p 500|100.00|128.68|142.69|149.70|173.34|182.87|
|s&p super cap diversified financials|100.00|139.29|156.28|170.89|211.13|176.62|
2022 $ 100 invested on 12/31/02 in stock or index-including reinvestment of dividends . fiscal year ending december 31 . 2022 copyright a9 2008 , standard & poor 2019s , a division of the mcgraw-hill companies , inc . all rights reserved . www.researchdatagroup.com/s&p.htm .
Question: what was the percentage cumulative total return for e*trade financial corporation for the five years ended 12/07? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.14912 | Context:holders of grupo gondi manage the joint venture and we provide technical and commercial resources . we believe the joint venture is helping us to grow our presence in the attractive mexican market . we have included the financial results of the joint venture in our corrugated packaging segment since the date of formation . we are accounting for the investment on the equity method . on january 19 , 2016 , we completed the packaging acquisition . the entities acquired provide value-added folding carton and litho-laminated display packaging solutions . we believe the transaction has provided us with attractive and complementary customers , markets and facilities . we have included the financial results of the acquired entities in our consumer packaging segment since the date of the acquisition . on october 1 , 2015 , we completed the sp fiber acquisition . the transaction included the acquisition of mills located in dublin , ga and newberg , or , which produce lightweight recycled containerboard and kraft and bag paper . the newberg mill also produced newsprint . as part of the transaction , we also acquired sp fiber's 48% ( 48 % ) interest in green power solutions of georgia , llc ( fffdgps fffd ) , which we consolidate . gps is a joint venture providing steam to the dublin mill and electricity to georgia power . subsequent to the transaction , we announced the permanent closure of the newberg mill due to the decline in market conditions of the newsprint business and our need to balance supply and demand in our containerboard system . we have included the financial results of the acquired entities in our corrugated packaging segment since the date of the acquisition . see fffdnote 2 . mergers , acquisitions and investment fffdtt of the notes to consolidated financial statements for additional information . see also item 1a . fffdrisk factors fffd fffdwe may be unsuccessful in making and integrating mergers , acquisitions and investments and completing divestitures fffd . business .
|( in millions )|year ended september 30 , 2018|year ended september 30 , 2017|year ended september 30 , 2016|
|net sales|$ 16285.1|$ 14859.7|$ 14171.8|
|segment income|$ 1685.0|$ 1193.5|$ 1226.2|
in fiscal 2018 , 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 2018 in a rapidly changing cost and price environment . net sales of $ 16285.1 million for fiscal 2018 increased $ 1425.4 million , or 9.6% ( 9.6 % ) , compared to fiscal 2017 . the increase was primarily a result of an increase in corrugated packaging segment sales , driven by higher selling price/mix and the contributions from acquisitions , and increased consumer packaging segment sales , primarily due to the contribution from acquisitions ( primarily the mps acquisition ) . these increases were partially offset by the absence of net sales from hh&b in fiscal 2018 due to the sale of hh&b in april 2017 and lower land and development segment sales compared to the prior year period due to the timing of real estate sales as we monetize the portfolio and lower merchandising display sales in the consumer packaging segment . segment income increased $ 491.5 million in fiscal 2018 compared to fiscal 2017 , primarily due to increased corrugated packaging segment income . with respect to segment income , we experienced higher levels of cost inflation during fiscal 2018 as compared to fiscal 2017 , which was partially offset by recycled fiber deflation . the primary inflationary items were freight costs , chemical costs , virgin fiber costs and wage and other costs . productivity improvements in fiscal 2018 more than offset the net impact of cost inflation . while it is difficult to predict specific inflationary items , we expect higher cost inflation to continue through fiscal 2019 . our corrugated packaging segment increased its net sales by $ 695.1 million in fiscal 2018 to $ 9103.4 million from $ 8408.3 million in fiscal 2017 . the increase in net sales was primarily due to higher corrugated selling price/mix and higher corrugated volumes ( including acquisitions ) , which were partially offset by lower net sales from recycling operations due to lower recycled fiber costs , lower sales related to the deconsolidation of a foreign joint venture in fiscal 2017 and the impact of foreign currency . north american box shipments increased 4.1% ( 4.1 % ) on a per day basis in fiscal 2018 compared to fiscal 2017 . segment income attributable to the corrugated packaging segment in fiscal 2018 increased $ 454.0 million to $ 1207.9 million compared to $ 753.9 million in fiscal 2017 . the increase was primarily due to higher selling price/mix , lower recycled fiber costs and productivity improvements which were partially offset by higher levels of cost inflation and other items , including increased depreciation and amortization . our consumer packaging segment increased its net sales by $ 838.9 million in fiscal 2018 to $ 7291.4 million from $ 6452.5 million in fiscal 2017 . the increase in net sales was primarily due to an increase in net sales from acquisitions ( primarily the mps acquisition ) and higher selling price/mix partially offset by the absence of net sales from hh&b in fiscal 2018 due to the hh&b sale in april 2017 and lower volumes . segment income attributable to .
Question: how much did net sales grow in a percentage from 2016 to 2018? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.21977 | Context:majority of the increased tax position is attributable to temporary differences . the increase in 2014 current period tax positions related primarily to the company 2019s change in tax accounting method filed in 2008 for repair and maintenance costs on its utility plant . the company does not anticipate material changes to its unrecognized tax benefits within the next year . if the company sustains all of its positions at december 31 , 2014 and 2013 , an unrecognized tax benefit of $ 9444 and $ 7439 , respectively , excluding interest and penalties , would impact the company 2019s effective tax rate . the following table summarizes the changes in the company 2019s valuation allowance: .
|balance at january 1 2012|$ 21579|
|increases in current period tax positions|2014|
|decreases in current period tax positions|-2059 ( 2059 )|
|balance at december 31 2012|$ 19520|
|increases in current period tax positions|2014|
|decreases in current period tax positions|-5965 ( 5965 )|
|balance at december 31 2013|$ 13555|
|increases in current period tax positions|2014|
|decreases in current period tax positions|-3176 ( 3176 )|
|balance at december 31 2014|$ 10379|
included in 2013 is a discrete tax benefit totaling $ 2979 associated with an entity re-organization within the company 2019s market-based operations segment that allowed for the utilization of state net operating loss carryforwards and the release of an associated valuation allowance . note 13 : employee benefits pension and other postretirement benefits the company maintains noncontributory defined benefit pension plans covering eligible employees of its regulated utility and shared services operations . benefits under the plans are based on the employee 2019s years of service and compensation . the pension plans have been closed for all employees . the pension plans were closed for most employees hired on or after january 1 , 2006 . union employees hired on or after january 1 , 2001 had their accrued benefit frozen and will be able to receive this benefit as a lump sum upon termination or retirement . union employees hired on or after january 1 , 2001 and non-union employees hired on or after january 1 , 2006 are provided with a 5.25% ( 5.25 % ) of base pay defined contribution plan . the company does not participate in a multiemployer plan . the company 2019s pension funding practice is to contribute at least the greater of the minimum amount required by the employee retirement income security act of 1974 or the normal cost . further , the company will consider additional contributions if needed to avoid 201cat risk 201d status and benefit restrictions under the pension protection act of 2006 . the company may also consider increased contributions , based on other financial requirements and the plans 2019 funded position . pension plan assets are invested in a number of actively managed and commingled funds including equity and bond funds , fixed income securities , guaranteed interest contracts with insurance companies , real estate funds and real estate investment trusts ( 201creits 201d ) . pension expense in excess of the amount contributed to the pension plans is deferred by certain regulated subsidiaries pending future recovery in rates charged for utility services as contributions are made to the plans . ( see note 6 ) the company also has unfunded noncontributory supplemental non-qualified pension plans that provide additional retirement benefits to certain employees. .
Question: what percentage of the company 2019s valuation allowance consisted of a discrete tax benefit in 2013? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
1.21243 | Context:jpmorgan chase & co./2018 form 10-k 41 five-year stock performance the following table and graph compare the five-year cumulative total return for jpmorgan chase & co . ( 201cjpmorgan chase 201d or the 201cfirm 201d ) common stock with the cumulative return of the s&p 500 index , the kbw bank index and the s&p financial index . the s&p 500 index is a commonly referenced equity benchmark in the united states of america ( 201cu.s . 201d ) , consisting of leading companies from different economic sectors . the kbw bank index seeks to reflect the performance of banks and thrifts that are publicly traded in the u.s . and is composed of leading national money center and regional banks and thrifts . the s&p financial index is an index of financial companies , all of which are components of the s&p 500 . the firm is a component of all three industry indices . the following table and graph assume simultaneous investments of $ 100 on december 31 , 2013 , in jpmorgan chase common stock and in each of the above indices . the comparison assumes that all dividends are reinvested . december 31 , ( in dollars ) 2013 2014 2015 2016 2017 2018 .
|december 31 ( in dollars )|2013|2014|2015|2016|2017|2018|
|jpmorgan chase|$ 100.00|$ 109.88|$ 119.07|$ 160.23|$ 203.07|$ 189.57|
|kbw bank index|100.00|109.36|109.90|141.23|167.49|137.82|
|s&p financial index|100.00|115.18|113.38|139.17|169.98|147.82|
|s&p 500 index|100.00|113.68|115.24|129.02|157.17|150.27|
december 31 , ( in dollars ) .
Question: based on the review of the stock perfomance what was the ratio of the jpmorgan chase in 2017 to 3 kbw bank 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: |
-0.18072 | Context:the pension plan investments are held in a master trust , with the northern trust company . investments in the master trust are valued at fair value , which has been determined based on fair value of the underlying investments of the master trust . investments in securities traded on public security exchanges are valued at their closing market prices on the valuation date ; where no sale was made on the valuation date , the security is generally valued at its most recent bid price . certain short-term investments are carried at cost , which approximates fair value . investments in registered investment companies and common trust funds , which primarily invest in stocks , bonds , and commodity futures , are valued using publicly available market prices for the underlying investments held by these entities . the majority of pension plan assets are invested in equity securities , because equity portfolios have historically provided higher returns than debt and other asset classes over extended time horizons , and are expected to do so in the future . correspondingly , equity investments also entail greater risks than other investments . equity risks are balanced by investing a significant portion of the plan 2019s assets in high quality debt securities . the average quality rating of the debt portfolio exceeded aa as of december 31 , 2008 and 2007 . the debt portfolio is also broadly diversified and invested primarily in u.s . treasury , mortgage , and corporate securities with an intermediate average maturity . the weighted-average maturity of the debt portfolio was 5 years at both december 31 , 2008 and 2007 , respectively . the investment of pension plan assets in securities issued by union pacific is specifically prohibited for both the equity and debt portfolios , other than through index fund holdings . other retirement programs thrift plan 2013 we provide a defined contribution plan ( thrift plan ) to eligible non-union employees and make matching contributions to the thrift plan . we match 50 cents for each dollar contributed by employees up to the first six percent of compensation contributed . our thrift plan contributions were $ 14 million in 2008 , $ 14 million in 2007 , and $ 13 million in 2006 . railroad retirement system 2013 all railroad employees are covered by the railroad retirement system ( the system ) . contributions made to the system are expensed as incurred and amounted to approximately $ 620 million in 2008 , $ 616 million in 2007 , and $ 615 million in 2006 . collective bargaining agreements 2013 under collective bargaining agreements , we provide certain postretirement healthcare and life insurance benefits for eligible union employees . premiums under the plans are expensed as incurred and amounted to $ 49 million in 2008 and $ 40 million in both 2007 and 5 . other income other income included the following for the years ended december 31 : millions of dollars 2008 2007 2006 .
|millions of dollars|2008|2007|2006|
|rental income|$ 87|$ 68|$ 83|
|net gain on non-operating asset dispositions|41|52|72|
|interest income|21|50|29|
|sale of receivables fees|-23 ( 23 )|-35 ( 35 )|-33 ( 33 )|
|non-operating environmental costs and other|-34 ( 34 )|-19 ( 19 )|-33 ( 33 )|
|total|$ 92|$ 116|$ 118|
.
Question: what was the percentage change in rental income 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: |
0.57058 | Context:notes to the audited consolidated financial statements 6 . equity investments eastman has a 50 percent interest in and serves as the operating partner in primester , a joint venture which manufactures cellulose acetate at eastman's kingsport , tennessee plant . this investment is accounted for under the equity method . eastman's net investment in the joint venture at december 31 , 2007 and 2006 was approximately $ 43 million and $ 47 million , respectively , which was comprised of the recognized portion of the venture's accumulated deficits , long-term amounts owed to primester , and a line of credit from eastman to primester . such amounts are included in other noncurrent assets . eastman owns a 50 percent interest in nanjing yangzi eastman chemical ltd . ( 201cnanjing 201d ) , a company which manufactures eastotactm hydrocarbon tackifying resins for the adhesives market . this joint venture is accounted for under the equity method and is included in other noncurrent assets . at december 31 , 2007 and 2006 , the company 2019s investment in nanjing was approximately $ 7 million and $ 5 million , respectively . in october 2007 , the company entered into an agreement with green rock energy , l.l.c . ( "green rock" ) , a company formed by the d . e . shaw group and goldman , sachs & co. , to jointly develop the industrial gasification facility in beaumont , texas through tx energy , llc ( "tx energy" ) . eastman owns a 50 percent interest in tx energy , which is expected to be operational in 2011 and will produce intermediate chemicals , such as hydrogen , methanol , and ammonia from petroleum coke . this joint venture in the development stage is accounted for under the equity method , and is included in other noncurrent assets . at december 31 , 2007 , the company 2019s investment in tx energy was approximately $ 26 million . eastman also plans to participate in a project sponsored by faustina hydrogen products , l.l.c . which will use petroleum coke as the primary feedstock to make anhydrous ammonia and methanol . faustina hydrogen products is primarily owned by green rock . the company intends to take a 25 percent or greater equity position in the project , provide operations , maintenance , and other site management services , and purchase methanol under a long-term contract . capital costs for the facility are estimated to be approximately $ 1.6 billion . project financing is expected to be obtained by the end of 2008 . the facility will be built in st . james parish , louisiana and is expected to be complete by 2011 . on april 21 , 2005 , the company completed the sale of its equity investment in genencor international , inc . ( "genencor" ) for cash proceeds of approximately $ 417 million , net of $ 2 million in fees . the book value of the investment prior to sale was $ 246 million , and the company recorded a pre-tax gain on the sale of $ 171 million . 7 . payables and other current liabilities december 31 , ( dollars in millions ) 2007 2006 .
|( dollars in millions )|december 31 2007|2006|
|trade creditors|$ 578|$ 581|
|accrued payrolls vacation and variable-incentive compensation|138|126|
|accrued taxes|36|59|
|post-employment obligations|60|63|
|interest payable|31|31|
|bank overdrafts|6|11|
|other|164|185|
|total payables and other current liabilities|$ 1013|$ 1056|
the current portion of post-employment obligations is an estimate of current year payments in excess of plan assets. .
Question: what was the percent of the trade to the creditors to the total 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: |
6.5625 | Context:blackrock n 96 n notes in april 2009 , the company acquired $ 2 million of finite- lived management contracts with a five-year estimated useful life associated with the acquisition of the r3 capital partners funds . in december 2009 , in conjunction with the bgi trans- action , the company acquired $ 163 million of finite- lived management contracts with a weighted-average estimated useful life of approximately 10 years . estimated amortization expense for finite-lived intangible assets for each of the five succeeding years is as follows : ( dollar amounts in millions ) .
|2010|$ 160|
|2011|157|
|2012|156|
|2013|155|
|2014|149|
indefinite-lived acquired management contracts on september 29 , 2006 , in conjunction with the mlim transaction , the company acquired indefinite-lived man- agement contracts valued at $ 4477 million consisting of $ 4271 million for all retail mutual funds and $ 206 million for alternative investment products . on october 1 , 2007 , in conjunction with the quellos transaction , the company acquired $ 631 million in indefinite-lived management contracts associated with alternative investment products . on october 1 , 2007 , the company purchased the remain- ing 20% ( 20 % ) of an investment manager of a fund of hedge funds . in conjunction with this transaction , the company recorded $ 8 million in additional indefinite-lived management contracts associated with alternative investment products . on december 1 , 2009 , in conjunction with the bgi transaction , the company acquired $ 9785 million in indefinite-lived management contracts valued consisting primarily for exchange traded funds and common and collective trusts . indefinite-lived acquired trade names/trademarks on december 1 , 2009 , in conjunction with the bgi transaction , the company acquired trade names/ trademarks primarily related to ishares valued at $ 1402.5 million . the fair value was determined using a royalty rate based primarily on normalized marketing and promotion expenditures to develop and support the brands globally . 13 . borrowings short-term borrowings 2007 facility in august 2007 , the company entered into a five-year $ 2.5 billion unsecured revolving credit facility ( the 201c2007 facility 201d ) , which permits the company to request an additional $ 500 million of borrowing capacity , subject to lender credit approval , up to a maximum of $ 3.0 billion . the 2007 facility requires the company not to exceed a maximum leverage ratio ( ratio of net debt to earnings before interest , taxes , depreciation and amortiza- tion , where net debt equals total debt less domestic unrestricted cash ) of 3 to 1 , which was satisfied with a ratio of less than 1 to 1 at december 31 , 2009 . the 2007 facility provides back-up liquidity , funds ongoing working capital for general corporate purposes and funds various investment opportunities . at december 31 , 2009 , the company had $ 200 million outstanding under the 2007 facility with an interest rate of 0.44% ( 0.44 % ) and a maturity date during february 2010 . during february 2010 , the company rolled over $ 100 million in borrowings with an interest rate of 0.43% ( 0.43 % ) and a maturity date in may 2010 . lehman commercial paper inc . has a $ 140 million participation under the 2007 facility ; however blackrock does not expect that lehman commercial paper inc . will honor its commitment to fund additional amounts . bank of america , a related party , has a $ 140 million participation under the 2007 facility . in december 2007 , in order to support two enhanced cash funds that blackrock manages , blackrock elected to procure two letters of credit under the existing 2007 facility in an aggregate amount of $ 100 million . in decem- ber 2008 , the letters of credit were terminated . commercial paper program on october 14 , 2009 , blackrock established a com- mercial paper program ( the 201ccp program 201d ) under which the company may issue unsecured commercial paper notes ( the 201ccp notes 201d ) on a private placement basis up to a maximum aggregate amount outstanding at any time of $ 3 billion . the proceeds of the commercial paper issuances were used for the financing of a portion of the bgi transaction . subsidiaries of bank of america and barclays , as well as other third parties , act as dealers under the cp program . the cp program is supported by the 2007 facility . the company began issuance of cp notes under the cp program on november 4 , 2009 . as of december 31 , 2009 , blackrock had approximately $ 2 billion of out- standing cp notes with a weighted average interest rate of 0.20% ( 0.20 % ) and a weighted average maturity of 23 days . since december 31 , 2009 , the company repaid approxi- mately $ 1.4 billion of cp notes with proceeds from the long-term notes issued in december 2009 . as of march 5 , 2010 , blackrock had $ 596 million of outstanding cp notes with a weighted average interest rate of 0.18% ( 0.18 % ) and a weighted average maturity of 38 days . japan commitment-line in june 2008 , blackrock japan co. , ltd. , a wholly owned subsidiary of the company , entered into a five billion japanese yen commitment-line agreement with a bank- ing institution ( the 201cjapan commitment-line 201d ) . the term of the japan commitment-line was one year and interest accrued at the applicable japanese short-term prime rate . in june 2009 , blackrock japan co. , ltd . renewed the japan commitment-line for a term of one year . the japan commitment-line is intended to provide liquid- ity and flexibility for operating requirements in japan . at december 31 , 2009 , the company had no borrowings outstanding on the japan commitment-line . convertible debentures in february 2005 , the company issued $ 250 million aggregate principal amount of convertible debentures ( the 201cdebentures 201d ) , due in 2035 and bearing interest at a rate of 2.625% ( 2.625 % ) per annum . interest is payable semi- annually in arrears on february 15 and august 15 of each year , and commenced august 15 , 2005 . prior to february 15 , 2009 , the debentures could have been convertible at the option of the holder at a decem- ber 31 , 2008 conversion rate of 9.9639 shares of common stock per one dollar principal amount of debentures under certain circumstances . the debentures would have been convertible into cash and , in some situations as described below , additional shares of the company 2019s common stock , if during the five business day period after any five consecutive trading day period the trading price per debenture for each day of such period is less than 103% ( 103 % ) of the product of the last reported sales price of blackrock 2019s common stock and the conversion rate of the debentures on each such day or upon the occurrence of certain other corporate events , such as a distribution to the holders of blackrock common stock of certain rights , assets or debt securities , if the company becomes party to a merger , consolidation or transfer of all or substantially all of its assets or a change of control of the company . on february 15 , 2009 , the debentures became convertible into cash at any time prior to maturity at the option of the holder and , in some situations as described below , additional shares of the company 2019s common stock at the current conversion rate . at the time the debentures are tendered for conver- sion , for each one dollar principal amount of debentures converted , a holder shall be entitled to receive cash and shares of blackrock common stock , if any , the aggregate value of which ( the 201cconversion value 201d ) will be deter- mined by multiplying the applicable conversion rate by the average of the daily volume weighted average price of blackrock common stock for each of the ten consecutive trading days beginning on the second trading day imme- diately following the day the debentures are tendered for conversion ( the 201cten-day weighted average price 201d ) . the company will deliver the conversion value to holders as follows : ( 1 ) an amount in cash ( the 201cprincipal return 201d ) equal to the lesser of ( a ) the aggregate conversion value of the debentures to be converted and ( b ) the aggregate principal amount of the debentures to be converted , and ( 2 ) if the aggregate conversion value of the debentures to be converted is greater than the principal return , an amount in shares ( the 201cnet shares 201d ) , determined as set forth below , equal to such aggregate conversion value less the principal return ( the 201cnet share amount 201d ) . the number of net shares to be paid will be determined by dividing the net share amount by the ten-day weighted average price . in lieu of delivering fractional shares , the company will deliver cash based on the ten-day weighted average price . the conversion rate for the debentures is subject to adjustments upon the occurrence of certain corporate events , such as a change of control of the company , 193253ti_txt.indd 96 4/2/10 1:18 pm .
Question: what is the annual interest expense related to debentures issued in 2005 that are due in 2035 , 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: |
431.0 | 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 the net sales 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: |
-0.04752 | Context:abiomed , inc . and subsidiaries notes to consolidated financial statements 2014 ( continued ) note 12 . stock award plans and stock based compensation ( continued ) compensation expense recognized related to the company 2019s espp was approximately $ 0.1 million for each of the years ended march 31 , 2009 , 2008 and 2007 respectively . the fair value of shares issued under the employee stock purchase plan was estimated on the commencement date of each offering period using the black-scholes option-pricing model with the following assumptions: .
||2009|2008|2007|
|risk-free interest rate|1.01% ( 1.01 % )|4.61% ( 4.61 % )|4.84% ( 4.84 % )|
|expected life ( years )|0.5|0.5|0.5|
|expected volatility|67.2% ( 67.2 % )|45.2% ( 45.2 % )|39.8% ( 39.8 % )|
note 13 . capital stock in august 2008 , the company issued 2419932 shares of its common stock at a price of $ 17.3788 in a public offering , which resulted in net proceeds to the company of approximately $ 42.0 million , after deducting offering expenses . in march 2007 , the company issued 5000000 shares of common stock in a public offering , and in april 2007 , an additional 80068 shares of common stock were issued in connection with the offering upon the partial exercise of the underwriters 2019 over-allotment option . the company has authorized 1000000 shares of class b preferred stock , $ 0.01 par value , of which the board of directors can set the designation , rights and privileges . no shares of class b preferred stock have been issued or are outstanding . note 14 . income taxes deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to tax benefit carryforwards and to differences between the financial statement amounts of assets and liabilities and their respective tax basis . deferred tax assets and liabilities are measured using enacted tax rates . a valuation reserve is established if it is more likely than not that all or a portion of the deferred tax asset will not be realized . the tax benefit associated with the stock option compensation deductions will be credited to equity when realized . at march 31 , 2009 , the company had federal and state net operating loss carryforwards , or nols , of approximately $ 145.1 million and $ 97.1 million , respectively , which begin to expire in fiscal 2010 . additionally , at march 31 , 2009 , the company had federal and state research and development credit carryforwards of approximately $ 8.1 million and $ 4.2 million , respectively , which begin to expire in fiscal 2010 . the company acquired impella , a german-based company , in may 2005 . impella had pre-acquisition net operating losses of approximately $ 18.2 million at the time of acquisition ( which is denominated in euros and is subject to foreign exchange remeasurement at each balance sheet date presented ) , and has since incurred net operating losses in each fiscal year since the acquisition . during fiscal 2008 , the company determined that approximately $ 1.2 million of pre-acquisition operating losses could not be utilized . the utilization of pre-acquisition net operating losses of impella in future periods is subject to certain statutory approvals and business requirements . due to uncertainties surrounding the company 2019s ability to generate future taxable income to realize these assets , a full valuation allowance has been established to offset the company 2019s net deferred tax assets and liabilities . additionally , the future utilization of the company 2019s nol and research and development credit carry forwards to offset future taxable income may be subject to a substantial annual limitation under section 382 of the internal revenue code due to ownership changes that have occurred previously or that could occur in the future . ownership changes , as defined in section 382 of the internal revenue code , can limit the amount of net operating loss carry forwards and research and development credit carry forwards that a company can use each year to offset future taxable income and taxes payable . the company believes that all of its federal and state nol 2019s will be available for carryforward to future tax periods , subject to the statutory maximum carryforward limitation of any annual nol . any future potential limitation to all or a portion of the nol or research and development credit carry forwards , before they can be utilized , would reduce the company 2019s gross deferred tax assets . the company will monitor subsequent ownership changes , which could impose limitations in the future. .
Question: what is the growth rate in risk-free interest rate 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: |
0.15361 | Context:income tax expense .
|( in millions )|gaap 2017|gaap 2016|gaap 2015|gaap 2017|gaap 2016|2015|
|operating income ( 1 )|$ 5272|$ 4570|$ 4664|$ 5287|$ 4674|$ 4695|
|total nonoperating income ( expense ) ( 1 ) ( 2 )|-32 ( 32 )|-108 ( 108 )|-69 ( 69 )|-32 ( 32 )|-108 ( 108 )|-70 ( 70 )|
|income before income taxes ( 2 )|$ 5240|$ 4462|$ 4595|$ 5255|$ 4566|$ 4625|
|income tax expense ( 3 )|$ 270|$ 1290|$ 1250|$ 1539|$ 1352|$ 1312|
|effective tax rate ( 3 )|5.2% ( 5.2 % )|28.9% ( 28.9 % )|27.2% ( 27.2 % )|29.3% ( 29.3 % )|29.6% ( 29.6 % )|28.4% ( 28.4 % )|
operating income ( 1 ) $ 5272 $ 4570 $ 4664 $ 5287 $ 4674 $ 4695 total nonoperating income ( expense ) ( 1 ) ( 2 ) ( 32 ) ( 108 ) ( 69 ) ( 32 ) ( 108 ) ( 70 ) income before income taxes ( 2 ) $ 5240 $ 4462 $ 4595 $ 5255 $ 4566 $ 4625 income tax expense ( 3 ) $ 270 $ 1290 $ 1250 $ 1539 $ 1352 $ 1312 effective tax rate ( 3 ) 5.2% ( 5.2 % ) 28.9% ( 28.9 % ) 27.2% ( 27.2 % ) 29.3% ( 29.3 % ) 29.6% ( 29.6 % ) 28.4% ( 28.4 % ) ( 1 ) see non-gaap financial measures for further information on and reconciliation of as adjusted items . ( 2 ) net of net income ( loss ) attributable to nci . ( 3 ) gaap income tax expense and effective tax rate for 2017 reflects $ 1.2 billion of a net tax benefit related to the 2017 tax act . the company 2019s tax rate is affected by tax rates in foreign jurisdictions and the relative amount of income earned in those jurisdictions , which the company expects to be fairly consistent in the near term . the significant foreign jurisdictions that have lower statutory tax rates than the u.s . federal statutory rate of 35% ( 35 % ) include the united kingdom , channel islands , ireland and netherlands . 2017 . income tax expense ( gaap ) reflected : 2022 the following amounts related to the 2017 tax act : 2022 $ 106 million tax expense related to the revaluation of certain deferred income tax assets ; 2022 $ 1758 million noncash tax benefit related to the revaluation of certain deferred income tax liabilities ; 2022 $ 477 million tax expense related to the mandatory deemed repatriation of undistributed foreign earnings and profits . 2022 a noncash expense of $ 16 million , primarily associated with the revaluation of certain deferred income tax liabilities as a result of domestic state and local tax changes ; and 2022 $ 173 million discrete tax benefits , primarily related to stock-based compensation awards , including $ 151 million related to the adoption of new accounting guidance related to stock-based compensation awards . see note 2 , significant accounting policies , for further information . the as adjusted effective tax rate of 29.3% ( 29.3 % ) for 2017 excluded the noncash deferred tax revaluation benefit of $ 1758 million and noncash expense of $ 16 million mentioned above as it will not have a cash flow impact and to ensure comparability among periods presented . in addition , the deemed repatriation tax expense of $ 477 million has been excluded from the as adjusted results due to the one-time nature and to ensure comparability among periods presented . 2016 . income tax expense ( gaap ) reflected : 2022 a net noncash benefit of $ 30 million , primarily associated with the revaluation of certain deferred income tax liabilities ; and 2022 a benefit from $ 65 million of nonrecurring items , including the resolution of certain outstanding tax matters . the as adjusted effective tax rate of 29.6% ( 29.6 % ) for 2016 excluded the net noncash benefit of $ 30 million mentioned above as it will not have a cash flow impact and to ensure comparability among periods presented . 2015 . income tax expense ( gaap ) reflected : 2022 a net noncash benefit of $ 54 million , primarily associated with the revaluation of certain deferred income tax liabilities ; and 2022 a benefit from $ 75 million of nonrecurring items , primarily due to the realization of losses from changes in the company 2019s organizational tax structure and the resolution of certain outstanding tax matters . the as adjusted effective tax rate of 28.4% ( 28.4 % ) for 2015 excluded the net noncash benefit of $ 54 million mentioned above , as it will not have a cash flow impact and to ensure comparability among periods presented . balance sheet overview as adjusted balance sheet the following table presents a reconciliation of the consolidated statement of financial condition presented on a gaap basis to the consolidated statement of financial condition , excluding the impact of separate account assets and separate account collateral held under securities lending agreements ( directly related to lending separate account securities ) and separate account liabilities and separate account collateral liabilities under securities lending agreements and consolidated sponsored investment funds , including consolidated vies . the company presents the as adjusted balance sheet as additional information to enable investors to exclude certain assets that have equal and offsetting liabilities or noncontrolling interests that ultimately do not have an impact on stockholders 2019 equity or cash flows . management views the as adjusted balance sheet , which contains non-gaap financial measures , as an economic presentation of the company 2019s total assets and liabilities ; however , it does not advocate that investors consider such non-gaap financial measures in isolation from , or as a substitute for , financial information prepared in accordance with gaap . separate account assets and liabilities and separate account collateral held under securities lending agreements separate account assets are maintained by blackrock life limited , a wholly owned subsidiary of the company that is a registered life insurance company in the united kingdom , and represent segregated assets held for purposes of funding individual and group pension contracts . the .
Question: what is the growth rate in operating income from 2016 to 2017? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.2083 | 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 , 2008 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 2013 , we repurchased 14996957 shares of our common stock at an average price of $ 152.14 . the following table presents common stock repurchases during each month for the fourth quarter of 2013 : 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 ofapublicly announced planor program [b]|maximum number ofshares that may yetbe purchased under the planor program [b]|
|oct . 1 through oct . 31|1405535|153.18|1405535|4020650|
|nov . 1 through nov . 30|1027840|158.66|1025000|2995650|
|dec . 1 through dec . 31|2500944|163.14|2498520|497130|
|total|4934319|$ 159.37|4929055|n/a|
[a] total number of shares purchased during the quarter includes approximately 5264 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 . on november 21 , 2013 , the board of directors approved the early renewal of the share repurchase program , authorizing the repurchase of 60 million common shares by december 31 , 2017 . the new authorization is effective january 1 , 2014 , and replaces the previous authorization , which expired on december 31 , 2013 , three months earlier than its original expiration date. .
Question: what percentage of total shares purchased where purchased in november? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
100.0 | Context:10-k altria ar release tuesday , february 27 , 2018 10:00pm andra design llc verdicts have been appealed , there remains a risk that such relief may not be obtainable in all cases . this risk has been substantially reduced given that 47 states and puerto rico limit the dollar amount of bonds or require no bond at all . as discussed below , however , tobacco litigation plaintiffs have challenged the constitutionality of florida 2019s bond cap statute in several cases and plaintiffs may challenge state bond cap statutes in other jurisdictions as well . such challenges may include the applicability of state bond caps in federal court . states , including florida , may also seek to repeal or alter bond cap statutes through legislation . although altria group , inc . cannot predict the outcome of such challenges , it is possible that the consolidated results of operations , cash flows or financial position of altria group , inc. , or one or more of its subsidiaries , could be materially affected in a particular fiscal quarter or fiscal year by an unfavorable outcome of one or more such challenges . altria group , inc . and its subsidiaries record provisions in the consolidated financial statements for pending litigation when they determine that an unfavorable outcome is probable and the amount of the loss can be reasonably estimated . at the present time , while it is reasonably possible that an unfavorable outcome in a case may occur , except to the extent discussed elsewhere in this note 18 . contingencies : ( i ) management has concluded that it is not probable that a loss has been incurred in any of the pending tobacco-related cases ; ( ii ) management is unable to estimate the possible loss or range of loss that could result from an unfavorable outcome in any of the pending tobacco-related cases ; and ( iii ) accordingly , management has not provided any amounts in the consolidated financial statements for unfavorable outcomes , if any . litigation defense costs are expensed as incurred . altria group , inc . and its subsidiaries have achieved substantial success in managing litigation . nevertheless , litigation is subject to uncertainty and significant challenges remain . it is possible that the consolidated results of operations , cash flows or financial position of altria group , inc. , or one or more of its subsidiaries , could be materially affected in a particular fiscal quarter or fiscal year by an unfavorable outcome or settlement of certain pending litigation . altria group , inc . and each of its subsidiaries named as a defendant believe , and each has been so advised by counsel handling the respective cases , that it has valid defenses to the litigation pending against it , as well as valid bases for appeal of adverse verdicts . each of the companies has defended , and will continue to defend , vigorously against litigation challenges . however , altria group , inc . and its subsidiaries may enter into settlement discussions in particular cases if they believe it is in the best interests of altria group , inc . to do so . overview of altria group , inc . and/or pm usa tobacco- related litigation types and number of cases : claims related to tobacco products generally fall within the following categories : ( i ) smoking and health cases alleging personal injury brought on behalf of individual plaintiffs ; ( ii ) smoking and health cases primarily alleging personal injury or seeking court-supervised programs for ongoing medical monitoring and purporting to be brought on behalf of a class of individual plaintiffs , including cases in which the aggregated claims of a number of individual plaintiffs are to be tried in a single proceeding ; ( iii ) health care cost recovery cases brought by governmental ( both domestic and foreign ) plaintiffs seeking reimbursement for health care expenditures allegedly caused by cigarette smoking and/or disgorgement of profits ; ( iv ) class action suits alleging that the uses of the terms 201clights 201d and 201cultra lights 201d constitute deceptive and unfair trade practices , common law or statutory fraud , unjust enrichment , breach of warranty or violations of the racketeer influenced and corrupt organizations act ( 201crico 201d ) ; and ( v ) other tobacco-related litigation described below . plaintiffs 2019 theories of recovery and the defenses raised in pending smoking and health , health care cost recovery and 201clights/ultra lights 201d cases are discussed below . the table below lists the number of certain tobacco-related cases pending in the united states against pm usa and , in some instances , altria group , inc . as of december 31 , 2017 , 2016 and .
||2017|2016|2015|
|individual smoking and health cases ( 1 )|92|70|65|
|smoking and health class actions and aggregated claims litigation ( 2 )|4|5|5|
|health care cost recovery actions ( 3 )|1|1|1|
|201clights/ultra lights 201d class actions|3|8|11|
( 1 ) does not include 2414 cases brought by flight attendants seeking compensatory damages for personal injuries allegedly caused by exposure to environmental tobacco smoke ( 201cets 201d ) . the flight attendants allege that they are members of an ets smoking and health class action in florida , which was settled in 1997 ( broin ) . the terms of the court-approved settlement in that case allowed class members to file individual lawsuits seeking compensatory damages , but prohibited them from seeking punitive damages . also , does not include individual smoking and health cases brought by or on behalf of plaintiffs in florida state and federal courts following the decertification of the engle case ( discussed below in smoking and health litigation - engle class action ) . ( 2 ) includes as one case the 30 civil actions that were to be tried in six consolidated trials in west virginia ( in re : tobacco litigation ) . pm usa is a defendant in nine of the 30 cases . the parties have agreed to resolve the cases for an immaterial amount and have so notified the court . ( 3 ) see health care cost recovery litigation - federal government 2019s lawsuit below . international tobacco-related cases : as of january 29 , 2018 , pm usa is a named defendant in 10 health care cost recovery actions in canada , eight of which also name altria group , inc . as a defendant . pm usa and altria group , inc . are also named defendants in seven smoking and health class actions filed in various canadian provinces . see guarantees and other similar matters below for a discussion of the distribution agreement between altria group , inc . and pmi that provides for indemnities for certain liabilities concerning tobacco products. .
Question: what are the total number of pending tobacco-related cases in united states 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: |
1687.0 | Context:meet customer needs and put us in a position to handle demand changes . we will also continue utilizing industrial engineering techniques to improve productivity . 2022 fuel prices 2013 uncertainty about the economy makes fuel price projections difficult , and we could see volatile fuel prices during the year , as they are sensitive to global and u.s . domestic demand , refining capacity , geopolitical issues and events , weather conditions and other factors . to reduce the impact of fuel price on earnings , we will continue to seek recovery from our customers through our fuel surcharge programs and to expand our fuel conservation efforts . 2022 capital plan 2013 in 2010 , we plan to make total capital investments of approximately $ 2.5 billion , including expenditures for ptc , which may be revised if business conditions or new laws or regulations affect our ability to generate sufficient returns on these investments . see further discussion in this item 7 under liquidity and capital resources 2013 capital plan . 2022 positive train control ( ptc ) 2013 in response to a legislative mandate to implement ptc by the end of 2015 , we expect to spend approximately $ 200 million during 2010 on the development of ptc . we currently estimate that ptc will cost us approximately $ 1.4 billion to implement by the end of 2015 , in accordance with rules issued by the fra . this includes costs for installing the new system along our tracks , upgrading locomotives to work with the new system , and adding digital data communication equipment so all the parts of the system can communicate with each other . 2022 financial expectations 2013 we remain cautious about economic conditions but expect volume to increase from 2009 levels . in addition , we anticipate continued pricing opportunities and further productivity improvements . results of operations operating revenues millions of dollars 2009 2008 2007 % ( % ) change 2009 v 2008 % ( % ) change 2008 v 2007 .
|millions of dollars|2009|2008|2007|% ( % ) change 2009 v 2008|% ( % ) change 2008 v 2007|
|freight revenues|$ 13373|$ 17118|$ 15486|( 22 ) % ( % )|11% ( 11 % )|
|other revenues|770|852|797|-10 ( 10 )|7|
|total|$ 14143|$ 17970|$ 16283|( 21 ) % ( % )|10% ( 10 % )|
freight revenues are revenues generated by transporting freight or other materials from our six commodity groups . freight revenues vary with volume ( carloads ) and average revenue per car ( arc ) . changes in price , traffic mix and fuel surcharges drive arc . we provide some of our customers with contractual incentives for meeting or exceeding specified cumulative volumes or shipping to and from specific locations , which we record as a reduction to freight revenues based on the actual or projected future shipments . we recognize freight revenues on a percentage-of-completion basis as freight moves from origin to destination . we allocate freight revenues between reporting periods based on the relative transit time in each reporting period and recognize expenses as we incur them . other revenues include revenues earned by our subsidiaries , revenues from our commuter rail operations , and accessorial revenues , which we earn when customers retain equipment owned or controlled by us or when we perform additional services such as switching or storage . we recognize other revenues as we perform services or meet contractual obligations . freight revenues and volume levels for all six commodity groups decreased during 2009 , reflecting continued economic weakness . we experienced the largest volume declines in automotive and industrial .
Question: what was the change in total revenue in millions 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: |
0.91204 | Context:( c ) the cash payments are interest payments on the associated debt obligations discussed above . after formation of the 2015 financing entities , the payments represent interest paid on nonrecourse financial liabilities of special purpose entities . in connection with the acquisition of temple-inland in february 2012 , two special purpose entities became wholly-owned subsidiaries of international paper . the use of the two wholly-owned special purpose entities discussed below preserved the tax deferral that resulted from the 2007 temple-inland timberlands sales . the company recognized an $ 840 million deferred tax liability in connection with the 2007 sales , which will be settled with the maturity of the notes in in october 2007 , temple-inland sold 1.55 million acres of timberland for $ 2.38 billion . the total consideration consisted almost entirely of notes due in 2027 issued by the buyer of the timberland , which temple-inland contributed to two wholly-owned , bankruptcy-remote special purpose entities . the notes are shown in financial assets of special purpose entities in the accompanying consolidated balance sheet and are supported by $ 2.38 billion of irrevocable letters of credit issued by three banks , which are required to maintain minimum credit ratings on their long-term debt . in the third quarter of 2012 , international paper completed its preliminary analysis of the acquisition date fair value of the notes and determined it to be $ 2.09 billion . as of december 31 , 2015 and 2014 , the fair value of the notes was $ 2.10 billion and $ 2.27 billion , respectively . these notes are classified as level 2 within the fair value hierarchy , which is further defined in note 14 . in december 2007 , temple-inland's two wholly-owned special purpose entities borrowed $ 2.14 billion shown in nonrecourse financial liabilities of special purpose entities . the loans are repayable in 2027 and are secured only by the $ 2.38 billion of notes and the irrevocable letters of credit securing the notes and are nonrecourse to us . the loan agreements provide that if a credit rating of any of the banks issuing the letters of credit is downgraded below the specified threshold , the letters of credit issued by that bank must be replaced within 30 days with letters of credit from another qualifying financial institution . in the third quarter of 2012 , international paper completed its preliminary analysis of the acquisition date fair value of the borrowings and determined it to be $ 2.03 billion . as of december 31 , 2015 and 2014 , the fair value of this debt was $ 1.97 billion and $ 2.16 billion , respectively . this debt is classified as level 2 within the fair value hierarchy , which is further defined in note 14 . activity between the company and the 2007 financing entities was as follows: .
|in millions|2015|2014|2013|
|revenue ( a )|$ 27|$ 26|$ 27|
|expense ( b )|27|25|29|
|cash receipts ( c )|7|7|8|
|cash payments ( d )|18|18|21|
( a ) the revenue is included in interest expense , net in the accompanying consolidated statement of operations and includes approximately $ 19 million , $ 19 million and $ 19 million for the years ended december 31 , 2015 , 2014 and 2013 , respectively , of accretion income for the amortization of the purchase accounting adjustment on the financial assets of special purpose entities . ( b ) the expense is included in interest expense , net in the accompanying consolidated statement of operations and includes approximately $ 7 million , $ 7 million and $ 7 million for the years ended december 31 , 2015 , 2014 and 2013 , respectively , of accretion expense for the amortization of the purchase accounting adjustment on the nonrecourse financial liabilities of special purpose entities . ( c ) the cash receipts are interest received on the financial assets of special purpose entities . ( d ) the cash payments are interest paid on nonrecourse financial liabilities of special purpose entities . note 13 debt and lines of credit in 2015 , international paper issued $ 700 million of 3.80% ( 3.80 % ) senior unsecured notes with a maturity date in 2026 , $ 600 million of 5.00% ( 5.00 % ) senior unsecured notes with a maturity date in 2035 , and $ 700 million of 5.15% ( 5.15 % ) senior unsecured notes with a maturity date in 2046 . the proceeds from this borrowing were used to repay approximately $ 1.0 billion of notes with interest rates ranging from 4.75% ( 4.75 % ) to 9.38% ( 9.38 % ) and original maturities from 2018 to 2022 , along with $ 211 million of cash premiums associated with the debt repayments . additionally , the proceeds from this borrowing were used to make a $ 750 million voluntary cash contribution to the company's pension plan . pre-tax early debt retirement costs of $ 207 million related to the debt repayments , including the $ 211 million of cash premiums , are included in restructuring and other charges in the accompanying consolidated statement of operations for the twelve months ended december 31 , 2015 . during the second quarter of 2014 , international paper issued $ 800 million of 3.65% ( 3.65 % ) senior unsecured notes with a maturity date in 2024 and $ 800 million of 4.80% ( 4.80 % ) senior unsecured notes with a maturity date in 2044 . the proceeds from this borrowing were used to repay approximately $ 960 million of notes with interest rates ranging from 7.95% ( 7.95 % ) to 9.38% ( 9.38 % ) and original maturities from 2018 to 2019 . pre-tax early debt retirement costs of $ 262 million related to these debt repayments , including $ 258 million of cash premiums , are included in restructuring and other charges in the accompanying consolidated statement of operations for the twelve months ended december 31 , 2014. .
Question: what was the ratio of the fair value of international paper completed preliminary analysis of the acquisition date fair value of the borrowings in 2015 compared 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: |
0.5656 | Context:baker hughes , a ge company notes to consolidated and combined financial statements bhge 2017 form 10-k | 85 the total intrinsic value of rsus ( defined as the value of the shares awarded at the current market price ) vested and outstanding in 2017 was $ 17 million and $ 38 million , respectively . the total fair value of rsus vested in 2017 was $ 19 million . as of december 31 , 2017 , there was $ 98 million of total unrecognized compensation cost related to unvested rsus , which is expected to be recognized over a weighted average period of 2.5 years . note 12 . equity common stock we are authorized to issue 2 billion shares of class a common stock , 1.25 billion shares of class b common stock and 50 million shares of preferred stock each of which have a par value of $ 0.0001 per share . on july 3 , 2017 , each share of baker hughes common stock was converted into one share of class a common stock in the company . the number of class a common stock and class b common stock shares outstanding at december 31 , 2017 is 422 million and 707 million , respectively . we have not issued any preferred stock . ge owns all the issued and outstanding class b common stock . each share of class a and class b common stock and the associated membership interest in bhge llc form a paired interest . while each share of class b common stock has equal voting rights to a share of class a common stock , it has no economic rights , meaning holders of class b common stock have no right to dividends and any assets in the event of liquidation of the company . former baker hughes stockholders immediately after the completion of the transactions received a special one-time cash dividend of $ 17.50 per share paid by the company to holders of record of the company's class a common stock . in addition , during 2017 the company declared and paid regular dividends of $ 0.17 per share and $ 0.18 per share to holders of record of the company's class a common stock during the quarters ended september 30 , 2017 and december 31 , 2017 , respectively . the following table presents the changes in number of shares outstanding ( in thousands ) : class a common class b common .
||class a common stock|class b common stock|
|balance at december 31 2016|2014|2014|
|issue of shares on business combination at july 3 2017|427709|717111|
|issue of shares upon vesting of restricted stock units ( 1 )|290|2014|
|issue of shares on exercises of stock options ( 1 )|256|2014|
|stock repurchase program ( 2 ) ( 3 )|-6047 ( 6047 )|-10126 ( 10126 )|
|balance at december 31 2017|422208|706985|
( 1 ) share amounts reflected above are net of shares withheld to satisfy the employee's tax withholding obligation . ( 2 ) on november 2 , 2017 , our board of directors authorized bhge llc to repurchase up to $ 3 billion of its common units from the company and ge . the proceeds of this repurchase are to be used by bhge to repurchase class a common stock of the company on the open market , which if fully implemented would result in the repurchase of approximately $ 1.1 billion of class a common stock . the class b common stock of the company , that is paired with repurchased common units , was repurchased by the company at par value . the $ 3 billion repurchase authorization is the aggregate authorization for repurchases of class a and class b common stock together with its paired unit . bhge llc had authorization remaining to repurchase up to approximately $ 2.5 billion of its common units from bhge and ge at december 31 , 2017 . ( 3 ) during 2017 , we repurchased and canceled 6046735 shares of class a common stock for a total of $ 187 million . we also repurchased and canceled 10126467 shares of class b common stock from ge which is paired together with common units of bhge llc for $ 314 million. .
Question: what portion of the authorized shares of class b common stock is outstanding 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: |
170.0 | Context:nonoperating income ( expense ) . blackrock also uses operating margin , as adjusted , to monitor corporate performance and efficiency and as a benchmark to compare its performance with other companies . management uses both gaap and non-gaap financial measures in evaluating blackrock 2019s financial performance . the non-gaap measure by itself may pose limitations because it does not include all of blackrock 2019s revenues and expenses . operating income used for measuring operating margin , as adjusted , is equal to operating income , as adjusted , excluding the impact of closed-end fund launch costs and related commissions . management believes the exclusion of such costs and related commissions is useful because these costs can fluctuate considerably and revenues associated with the expenditure of these costs will not fully impact blackrock 2019s results until future periods . revenue used for operating margin , as adjusted , excludes distribution and servicing costs paid to related parties and other third parties . management believes the exclusion of such costs is useful because it creates consistency in the treatment for certain contracts for similar services , which due to the terms of the contracts , are accounted for under gaap on a net basis within investment advisory , administration fees and securities lending revenue . amortization of deferred sales commissions is excluded from revenue used for operating margin measurement , as adjusted , because such costs , over time , substantially offset distribution fee revenue the company earns . for each of these items , blackrock excludes from revenue used for operating margin , as adjusted , the costs related to each of these items as a proxy for such offsetting revenues . ( b ) nonoperating income ( expense ) , less net income ( loss ) attributable to noncontrolling interests , as adjusted , is presented below . the compensation expense offset is recorded in operating income . this compensation expense has been included in nonoperating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted , to offset returns on investments set aside for these plans , which are reported in nonoperating income ( expense ) , gaap basis . management believes nonoperating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted , provides comparability of information among reporting periods and is an effective measure for reviewing blackrock 2019s nonoperating contribution to results . as compensation expense associated with ( appreciation ) depreciation on investments related to certain deferred compensation plans , which is included in operating income , substantially offsets the gain ( loss ) on the investments set aside for these plans , management believes nonoperating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted , provides a useful measure , for both management and investors , of blackrock 2019s nonoperating results that impact book value . during 2013 , the noncash , nonoperating pre-tax gain of $ 80 million related to the contributed pennymac investment has been excluded from nonoperating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted due to its nonrecurring nature and because the more than offsetting associated charitable contribution expense of $ 124 million is reported in operating income . ( in millions ) 2013 2012 2011 nonoperating income ( expense ) , gaap basis $ 116 $ ( 54 ) $ ( 114 ) less : net income ( loss ) attributable to nci 19 ( 18 ) 2 .
|( in millions )|2013|2012|2011|
|nonoperating income ( expense ) gaap basis|$ 116|$ -54 ( 54 )|$ -114 ( 114 )|
|less : net income ( loss ) attributable to nci|19|-18 ( 18 )|2|
|nonoperating income ( expense )|97|-36 ( 36 )|-116 ( 116 )|
|gain related to charitable contribution|-80 ( 80 )|2014|2014|
|compensation expense related to ( appreciation ) depreciation on deferred compensation plans|-10 ( 10 )|-6 ( 6 )|3|
|nonoperating income ( expense ) less net income ( loss ) attributable to nci as adjusted|$ 7|$ -42 ( 42 )|$ -113 ( 113 )|
gain related to charitable contribution ( 80 ) 2014 2014 compensation expense related to ( appreciation ) depreciation on deferred compensation plans ( 10 ) ( 6 ) 3 nonoperating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted $ 7 $ ( 42 ) $ ( 113 ) ( c ) net income attributable to blackrock , as adjusted : management believes net income attributable to blackrock , inc. , as adjusted , and diluted earnings per common share , as adjusted , are useful measures of blackrock 2019s profitability and financial performance . net income attributable to blackrock , inc. , as adjusted , equals net income attributable to blackrock , inc. , gaap basis , adjusted for significant nonrecurring items , charges that ultimately will not impact blackrock 2019s book value or certain tax items that do not impact cash flow . see note ( a ) operating income , as adjusted , and operating margin , as adjusted , for information on the pnc ltip funding obligation , merrill lynch compensation contribution , charitable contribution , u.k . lease exit costs , contribution to stifs and restructuring charges . the 2013 results included a tax benefit of approximately $ 48 million recognized in connection with the charitable contribution . the tax benefit has been excluded from net income attributable to blackrock , inc. , as adjusted due to the nonrecurring nature of the charitable contribution . during 2013 , income tax changes included adjustments related to the revaluation of certain deferred income tax liabilities , including the effect of legislation enacted in the united kingdom and domestic state and local income tax changes . during 2012 , income tax changes included adjustments related to the revaluation of certain deferred income tax liabilities , including the effect of legislation enacted in the united kingdom and the state and local income tax effect resulting from changes in the company 2019s organizational structure . during 2011 , income tax changes included adjustments related to the revaluation of certain deferred income tax liabilities due to a state tax election and enacted u.k. , japan , u.s . state and local tax legislation . the resulting decrease in income taxes has been excluded from net income attributable to blackrock , inc. , as adjusted , as these items will not have a cash flow impact and to ensure comparability among periods presented. .
Question: by what amount is the non-operating income gaap basis higher in 2013 compare to 2012? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
110.0 | Context:freesheet paper were higher in russia , but lower in europe reflecting weak economic conditions and market demand . average sales price realizations for pulp decreased . lower input costs for wood and purchased fiber were partially offset by higher costs for energy , chemicals and packaging . freight costs were also higher . planned maintenance downtime costs were higher due to executing a significant once-every-ten-years maintenance outage plus the regularly scheduled 18-month outage at the saillat mill while outage costs in russia and poland were lower . manufacturing operating costs were favor- entering 2013 , sales volumes in the first quarter are expected to be seasonally weaker in russia , but about flat in europe . average sales price realizations for uncoated freesheet paper are expected to decrease in europe , but increase in russia . input costs should be higher in russia , especially for wood and energy , but be slightly lower in europe . no maintenance outages are scheduled for the first quarter . ind ian papers includes the results of andhra pradesh paper mills ( appm ) of which a 75% ( 75 % ) interest was acquired on october 14 , 2011 . net sales were $ 185 million in 2012 and $ 35 million in 2011 . operat- ing profits were a loss of $ 16 million in 2012 and a loss of $ 3 million in 2011 . asian pr int ing papers net sales were $ 85 mil- lion in 2012 , $ 75 million in 2011 and $ 80 million in 2010 . operating profits were improved from break- even in past years to $ 1 million in 2012 . u.s . pulp net sales were $ 725 million in 2012 compared with $ 725 million in 2011 and $ 715 million in 2010 . operating profits were a loss of $ 59 million in 2012 compared with gains of $ 87 million in 2011 and $ 107 million in 2010 . sales volumes in 2012 increased from 2011 primarily due to the start-up of pulp production at the franklin mill in the third quarter of 2012 . average sales price realizations were significantly lower for both fluff pulp and market pulp . input costs were lower , primarily for wood and energy . freight costs were slightly lower . mill operating costs were unfavorable primarily due to costs associated with the start-up of the franklin mill . planned maintenance downtime costs were lower . in the first quarter of 2013 , sales volumes are expected to be flat with the fourth quarter of 2012 . average sales price realizations are expected to improve reflecting the realization of sales price increases for paper and tissue pulp that were announced in the fourth quarter of 2012 . input costs should be flat . planned maintenance downtime costs should be about $ 9 million higher than in the fourth quarter of 2012 . manufacturing costs related to the franklin mill should be lower as we continue to improve operations . consumer packaging demand and pricing for consumer packaging prod- ucts correlate closely with consumer spending and general economic activity . in addition to prices and volumes , major factors affecting the profitability of consumer packaging are raw material and energy costs , freight costs , manufacturing efficiency and product mix . consumer packaging net sales in 2012 decreased 15% ( 15 % ) from 2011 and 7% ( 7 % ) from 2010 . operating profits increased 64% ( 64 % ) from 2011 and 29% ( 29 % ) from 2010 . net sales and operating profits include the shorewood business in 2011 and 2010 . exclud- ing asset impairment and other charges associated with the sale of the shorewood business , and facility closure costs , 2012 operating profits were 27% ( 27 % ) lower than in 2011 , but 23% ( 23 % ) higher than in 2010 . benefits from lower raw material costs ( $ 22 million ) , lower maintenance outage costs ( $ 5 million ) and other items ( $ 2 million ) were more than offset by lower sales price realizations and an unfavorable product mix ( $ 66 million ) , lower sales volumes and increased market-related downtime ( $ 22 million ) , and higher operating costs ( $ 40 million ) . in addition , operating profits in 2012 included a gain of $ 3 million related to the sale of the shorewood business while operating profits in 2011 included a $ 129 million fixed asset impairment charge for the north ameri- can shorewood business and $ 72 million for other charges associated with the sale of the shorewood business . consumer packaging .
|in millions|2012|2011|2010|
|sales|$ 3170|$ 3710|$ 3400|
|operating profit|268|163|207|
north american consumer packaging net sales were $ 2.0 billion in 2012 compared with $ 2.5 billion in 2011 and $ 2.4 billion in 2010 . operating profits were $ 165 million ( $ 162 million excluding a gain related to the sale of the shorewood business ) in 2012 compared with $ 35 million ( $ 236 million excluding asset impairment and other charges asso- ciated with the sale of the shorewood business ) in 2011 and $ 97 million ( $ 105 million excluding facility closure costs ) in 2010 . coated paperboard sales volumes in 2012 were lower than in 2011 reflecting weaker market demand . average sales price realizations were lower , primar- ily for folding carton board . input costs for wood increased , but were partially offset by lower costs for chemicals and energy . planned maintenance down- time costs were slightly lower . market-related down- time was about 113000 tons in 2012 compared with about 38000 tons in 2011. .
Question: what was the average net sales in 2011 and 2012 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: |
0.73016 | Context:table of contents item 1b . unresolved staff comments we have no unresolved sec staff comments to report . item 2 . properties as of december 31 , 2015 , we owned or leased 126 major manufacturing sites and 14 major technical centers . a manufacturing site may include multiple plants and may be wholly or partially owned or leased . we also have many smaller manufacturing sites , sales offices , warehouses , engineering centers , joint ventures and other investments strategically located throughout the world . we have a presence in 44 countries . the following table shows the regional distribution of our major manufacturing sites by the operating segment that uses such facilities : north america europe , middle east & africa asia pacific south america total .
||north america|europemiddle east& africa|asia pacific|south america|total|
|electrical/electronic architecture|30|32|25|5|92|
|powertrain systems|4|10|5|2|21|
|electronics and safety|3|7|3|2014|13|
|total|37|49|33|7|126|
in addition to these manufacturing sites , we had 14 major technical centers : four in north america ; five in europe , middle east and africa ; four in asia pacific ; and one in south america . of our 126 major manufacturing sites and 14 major technical centers , which include facilities owned or leased by our consolidated subsidiaries , 77 are primarily owned and 63 are primarily leased . we frequently review our real estate portfolio and develop footprint strategies to support our customers 2019 global plans , while at the same time supporting our technical needs and controlling operating expenses . we believe our evolving portfolio will meet current and anticipated future needs . item 3 . legal proceedings we are from time to time subject to various actions , claims , suits , government investigations , and other proceedings incidental to our business , including those arising out of alleged defects , breach of contracts , competition and antitrust matters , product warranties , intellectual property matters , personal injury claims and employment-related matters . it is our opinion that the outcome of such matters will not have a material adverse impact on our consolidated financial position , results of operations , or cash flows . with respect to warranty matters , although we cannot ensure that the future costs of warranty claims by customers will not be material , we believe our established reserves are adequate to cover potential warranty settlements . however , the final amounts required to resolve these matters could differ materially from our recorded estimates . gm ignition switch recall in the first quarter of 2014 , gm , delphi 2019s largest customer , initiated a product recall related to ignition switches . delphi received requests for information from , and cooperated with , various government agencies related to this ignition switch recall . in addition , delphi was initially named as a co-defendant along with gm ( and in certain cases other parties ) in class action and product liability lawsuits related to this matter . as of december 31 , 2015 , delphi was not named as a defendant in any class action complaints . although no assurances can be made as to the ultimate outcome of these or any other future claims , delphi does not believe a loss is probable and , accordingly , no reserve has been made as of december 31 , 2015 . unsecured creditors litigation the fourth amended and restated limited liability partnership agreement of delphi automotive llp ( the 201cfourth llp agreement 201d ) was entered into on july 12 , 2011 by the members of delphi automotive llp in order to position the company for its initial public offering . under the terms of the fourth llp agreement , if cumulative distributions to the members of delphi automotive llp under certain provisions of the fourth llp agreement exceed $ 7.2 billion , delphi , as disbursing agent on behalf of dphh , is required to pay to the holders of allowed general unsecured claims against dphh $ 32.50 for every $ 67.50 in excess of $ 7.2 billion distributed to the members , up to a maximum amount of $ 300 million . in december 2014 , a complaint was filed in the bankruptcy court alleging that the redemption by delphi automotive llp of the membership interests of gm and the pbgc , and the repurchase of shares and payment of dividends by delphi automotive plc , constituted distributions under the terms of the fourth llp agreement approximating $ 7.2 billion . delphi considers cumulative .
Question: what is the percentage of electrical/electronic architecture sites among all sites? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-0.04401 | Context:appropriate statistical bases . total expense for repairs and maintenance incurred was $ 2.5 billion for 2015 , $ 2.4 billion for 2014 , and $ 2.3 billion for 2013 . 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 . 13 . accounts payable and other current liabilities dec . 31 , dec . 31 , millions 2015 2014 .
|millions|dec . 31 2015|dec . 31 2014|
|accounts payable|$ 743|$ 877|
|income and other taxes payable|434|412|
|accrued wages and vacation|391|409|
|interest payable|208|178|
|accrued casualty costs|181|249|
|equipment rents payable|105|100|
|dividends payable [a]|-|438|
|other|550|640|
|total accounts payable and other current liabilities|$ 2612|$ 3303|
[a] beginning in 2015 , the timing of the dividend declaration and payable dates was aligned to occur within the same quarter . the 2015 dividends paid amount includes the fourth quarter 2014 dividend of $ 438 million , which was paid on january 2 , 2015 , the first quarter 2015 dividend of $ 484 million , which was paid on march 30 , 2015 , the second quarter 2015 dividend of $ 479 million , which was paid on june 30 , 2015 , the third quarter 2015 dividend of $ 476 million , which was paid on september 30 , 2015 , as well as the fourth quarter 2015 dividend of $ 467 million , which was paid on december 30 , 2015 . 14 . financial instruments strategy and risk 2013 we may use derivative financial instruments in limited instances for other than trading purposes to assist in managing our overall exposure to fluctuations in interest rates and fuel prices . we are not a party to leveraged derivatives and , by policy , do not use derivative financial instruments for speculative purposes . derivative financial instruments qualifying for hedge accounting must maintain a specified level of effectiveness between the hedging instrument and the item being hedged , both at inception and throughout the hedged period . we formally document the nature and relationships between the hedging instruments and hedged items at inception , as well as our risk- management objectives , strategies for undertaking the various hedge transactions , and method of assessing hedge effectiveness . changes in the fair market value of derivative financial instruments that do not qualify for hedge accounting are charged to earnings . we may use swaps , collars , futures , and/or forward contracts to mitigate the risk of adverse movements in interest rates and fuel prices ; however , the use of these derivative financial instruments may limit future benefits from favorable interest rate and fuel price movements . market and credit risk 2013 we address market risk related to derivative financial instruments by selecting instruments with value fluctuations that highly correlate with the underlying hedged item . we manage credit risk related to derivative financial instruments , which is minimal , by requiring high credit standards for counterparties and periodic settlements . at december 31 , 2015 , and 2014 , we were not required to provide collateral , nor had we received collateral , relating to our hedging activities . interest rate fair value hedges 2013 we manage our overall exposure to fluctuations in interest rates by adjusting the proportion of fixed and floating rate debt instruments within our debt portfolio over a given period . we generally manage the mix of fixed and floating rate debt through the issuance of targeted amounts of each as debt matures or as we require incremental borrowings . we employ derivatives , primarily swaps , as one of the tools to obtain the targeted mix . in addition , we also obtain flexibility in managing interest costs and the interest rate mix within our debt portfolio by evaluating the issuance of and managing outstanding callable fixed-rate debt securities . swaps allow us to convert debt from fixed rates to variable rates and thereby hedge the risk of changes in the debt 2019s fair value attributable to the changes in interest rates . we account for swaps as fair value hedges using the short-cut method ; therefore , we do not record any ineffectiveness within our .
Question: what was the percentage change in accrued wages and vacation 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: |
86501.5 | Context:lkq corporation and subsidiaries notes to consolidated financial statements ( continued ) note 8 . restructuring and integration costs ( continued ) levels and the closure of excess facilities . to the extent these restructuring activities are associated with keystone operations , they are being accounted for in accordance with eitf issue no . 95-3 , 2018 2018recognition of liabilities in connection with a purchase business combination . 2019 2019 restructuring activities associated with our existing operations are being accounted for in accordance with sfas no . 146 , 2018 2018accounting for costs associated with exit or disposal activities . 2019 2019 in connection with the keystone restructuring activities , as part of the cost of the acquisition , we established reserves as detailed below . in accordance with eitf issue no . 95-3 , we intend to finalize our restructuring plans no later than one year from the date of our acquisition of keystone . upon finalization of restructuring plans or settlement of obligations for less than the expected amount , any excess reserves will be reversed with a corresponding decrease in goodwill . accrued acquisition expenses are included in other accrued expenses in the accompanying consolidated balance sheets . the changes in accrued acquisition expenses directly related to the keystone acquisition during 2007 are as follows ( in thousands ) : severance excess related costs facility costs other total .
||severance related costs|excess facility costs|other|total|
|reserves established|$ 11233|$ 2823|$ 488|$ 14544|
|payments|-1727 ( 1727 )|-85 ( 85 )|-488 ( 488 )|-2300 ( 2300 )|
|balance at december 31 2007|$ 9506|$ 2738|$ 2014|$ 12244|
restructuring and integration costs associated with our existing operations are included in restructuring expenses on the accompanying consolidated statements of income . note 9 . related party transactions we sublease a portion of our corporate office space to an entity owned by the son of one of our principal stockholders for a pro rata percentage of the rent that we are charged . the total amounts received from this entity were approximately $ 54000 , $ 70000 and $ 49000 during the years ended december 31 , 2007 , 2006 and 2005 , respectively . we also paid this entity approximately $ 0.4 million during 2007 for consulting fees incurred in connection with our new secured debt facility . a corporation owned by our chairman of the board , who is also one of our principal stockholders , owns private aircraft that we use from time to time for business trips . we reimburse this corporation for out-of-pocket and other related flight expenses , as well as for other direct expenses incurred . the total amounts paid to this corporation were approximately $ 102000 , $ 6400 and $ 122000 during each of the years ended december 31 , 2007 , 2006 and 2005 , respectively . in connection with the acquisitions of several businesses , we entered into agreements with several sellers of those businesses , who became stockholders as a result of those acquisitions , for the lease of certain properties used in our operations . typical lease terms include an initial term of five years , with three five-year renewal options and purchase options at various times throughout the lease periods . we also maintain the right of first refusal concerning the sale of the leased property . lease payments to a principal stockholder who became an officer of the company after the acquisition of his business were approximately $ 0.8 million during each of the years ended december 31 , 2007 , 2006 and 2005 , respectively. .
Question: what was the average we sublease rental income from 2005 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: |
0.6855 | Context:table of contents the following performance graph is not 201csoliciting material , 201d is not deemed filed with the sec , and is not to be incorporated by reference into any of valero 2019s filings under the securities act of 1933 or the securities exchange act of 1934 , as amended , respectively . this performance graph and the related textual information are based on historical data and are not indicative of future performance . the following line graph compares the cumulative total return 1 on an investment in our common stock against the cumulative total return of the s&p 500 composite index and an index of peer companies ( that we selected ) for the five-year period commencing december 31 , 2007 and ending december 31 , 2012 . our peer group consists of the following ten companies : alon usa energy , inc. ; bp plc ( bp ) ; cvr energy , inc. ; hess corporation ; hollyfrontier corporation ; marathon petroleum corporation ; phillips 66 ( psx ) ; royal dutch shell plc ( rds ) ; tesoro corporation ; and western refining , inc . our peer group previously included chevron corporation ( cvx ) and exxon mobil corporation ( xom ) but they were replaced with bp , psx , and rds . in 2012 , psx became an independent downstream energy company and was added to our peer group . cvx and xom were replaced with bp and rds as they were viewed as having operations that more closely aligned with our core businesses . comparison of 5 year cumulative total return1 among valero energy corporation , the s&p 500 index , old peer group , and new peer group .
||12/2007|12/2008|12/2009|12/2010|12/2011|12/2012|
|valero common stock|$ 100.00|$ 31.45|$ 25.09|$ 35.01|$ 32.26|$ 53.61|
|s&p 500|100.00|63.00|79.67|91.67|93.61|108.59|
|old peer group|100.00|80.98|76.54|88.41|104.33|111.11|
|new peer group|100.00|66.27|86.87|72.84|74.70|76.89|
____________ 1 assumes that an investment in valero common stock and each index was $ 100 on december 31 , 2007 . 201ccumulative total return 201d is based on share price appreciation plus reinvestment of dividends from december 31 , 2007 through december 31 , 2012. .
Question: what was the biggest decline , in percentage , from 2007-2008 , among the four groups? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.36612 | Context:analog devices , inc . notes to consolidated financial statements 2014 ( continued ) the following is a schedule of future minimum rental payments required under long-term operating leases at october 31 , operating fiscal years leases .
|fiscal years|operating leases|
|2016|$ 21780|
|2017|16305|
|2018|8670|
|2019|4172|
|2020|3298|
|later years|5263|
|total|$ 59488|
12 . commitments and contingencies from time to time , in the ordinary course of the company 2019s business , various claims , charges and litigation are asserted or commenced against the company arising from , or related to , contractual matters , patents , trademarks , personal injury , environmental matters , product liability , insurance coverage and personnel and employment disputes . as to such claims and litigation , the company can give no assurance that it will prevail . the company does not believe that any current legal matters will have a material adverse effect on the company 2019s financial position , results of operations or cash flows . 13 . retirement plans the company and its subsidiaries have various savings and retirement plans covering substantially all employees . the company maintains a defined contribution plan for the benefit of its eligible u.s . employees . this plan provides for company contributions of up to 5% ( 5 % ) of each participant 2019s total eligible compensation . in addition , the company contributes an amount equal to each participant 2019s pre-tax contribution , if any , up to a maximum of 3% ( 3 % ) of each participant 2019s total eligible compensation . the total expense related to the defined contribution plan for u.s . employees was $ 26.3 million in fiscal 2015 , $ 24.1 million in fiscal 2014 and $ 23.1 million in fiscal 2013 . the company also has various defined benefit pension and other retirement plans for certain non-u.s . employees that are consistent with local statutory requirements and practices . the total expense related to the various defined benefit pension and other retirement plans for certain non-u.s . employees , excluding settlement charges related to the company's irish defined benefit plan , was $ 33.3 million in fiscal 2015 , $ 29.8 million in fiscal 2014 and $ 26.5 million in fiscal 2013 . non-u.s . plan disclosures during fiscal 2015 , the company converted the benefits provided to participants in the company 2019s irish defined benefits pension plan ( the db plan ) to benefits provided under the company 2019s irish defined contribution plan . as a result , in fiscal 2015 the company recorded expenses of $ 223.7 million , including settlement charges , legal , accounting and other professional fees to settle the pension obligation . the assets related to the db plan were liquidated and used to purchase annuities for retirees and distributed to active and deferred members' accounts in the company's irish defined contribution plan in connection with the plan conversion . accordingly , plan assets for the db plan were zero as of the end of fiscal 2015 . the company 2019s funding policy for its foreign defined benefit pension plans is consistent with the local requirements of each country . the plans 2019 assets consist primarily of u.s . and non-u.s . equity securities , bonds , property and cash . the benefit obligations and related assets under these plans have been measured at october 31 , 2015 and november 1 , 2014 . components of net periodic benefit cost net annual periodic pension cost of non-u.s . plans is presented in the following table: .
Question: what percent of the leases was paid off 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: |
-0.34435 | Context:a wholly-owned subsidiary of the company is a registered life insurance company that maintains separate account assets , representing segregated funds held for purposes of funding individual and group pension contracts , and equal and offsetting separate account liabilities . at decem - ber 31 , 2008 and 2007 , the level 3 separate account assets were approximately $ 4 and $ 12 , respectively . the changes in level 3 assets primarily relate to purchases , sales and gains/ ( losses ) . the net investment income and net gains and losses attributable to separate account assets accrue directly to the contract owner and are not reported as non-operating income ( expense ) on the consolidated statements of income . level 3 assets , which includes equity method investments or consolidated investments of real estate funds , private equity funds and funds of private equity funds are valued based upon valuations received from internal as well as third party fund managers . fair valuations at the underlying funds are based on a combination of methods which may include third-party independent appraisals and discounted cash flow techniques . direct investments in private equity companies held by funds of private equity funds are valued based on an assessment of each under - lying investment , incorporating evaluation of additional significant third party financing , changes in valuations of comparable peer companies and the business environment of the companies , among other factors . see note 2 for further detail on the fair value policies by the underlying funds . changes in level 3 assets measured at fair value on a recurring basis for the year ended december 31 , 2008 .
||investments|other assets|
|december 31 2007|$ 1240|$ 2014|
|realized and unrealized gains / ( losses ) net|-409 ( 409 )|-16 ( 16 )|
|purchases sales other settlements and issuances net|11|2|
|net transfers in and/or out of level 3|-29 ( 29 )|78|
|december 31 2008|$ 813|$ 64|
|total net ( losses ) for the period included in earnings attributable to the change in unrealized gains or ( losses ) relating to assets stillheld at the reporting date|$ -366 ( 366 )|$ -17 ( 17 )|
total net ( losses ) for the period included in earnings attributable to the change in unrealized gains or ( losses ) relating to assets still held at the reporting date $ ( 366 ) $ ( 17 ) realized and unrealized gains and losses recorded for level 3 assets are reported in non-operating income ( expense ) on the consolidated statements of income . non-controlling interest expense is recorded for consoli- dated investments to reflect the portion of gains and losses not attributable to the company . the company transfers assets in and/or out of level 3 as significant inputs , including performance attributes , used for the fair value measurement become observable . 6 . variable interest entities in the normal course of business , the company is the manager of various types of sponsored investment vehicles , including collateralized debt obligations and sponsored investment funds , that may be considered vies . the company receives management fees or other incen- tive related fees for its services and may from time to time own equity or debt securities or enter into derivatives with the vehicles , each of which are considered variable inter- ests . the company engages in these variable interests principally to address client needs through the launch of such investment vehicles . the vies are primarily financed via capital contributed by equity and debt holders . the company 2019s involvement in financing the operations of the vies is limited to its equity interests , unfunded capital commitments for certain sponsored investment funds and its capital support agreements for two enhanced cash funds . the primary beneficiary of a vie is the party that absorbs a majority of the entity 2019s expected losses , receives a major - ity of the entity 2019s expected residual returns or both as a result of holding variable interests . in order to determine whether the company is the primary beneficiary of a vie , management must make significant estimates and assumptions of probable future cash flows and assign probabilities to different cash flow scenarios . assumptions made in such analyses include , but are not limited to , market prices of securities , market interest rates , poten- tial credit defaults on individual securities or default rates on a portfolio of securities , gain realization , liquidity or marketability of certain securities , discount rates and the probability of certain other outcomes . vies in which blackrock is the primary beneficiary at december 31 , 2008 , the company was the primary beneficiary of three vies , which resulted in consolidation of three sponsored investment funds ( including two cash management funds and one private equity fund of funds ) . creditors of the vies do not have recourse to the credit of the company . during 2008 , the company determined it became the primary beneficiary of two enhanced cash management funds as a result of concluding that under various cash 177528_txt_59_96:layout 1 3/26/09 10:32 pm page 73 .
Question: what is the percentage change in the balance of level 3 investments assets 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: |
0.19558 | Context:the second largest closed-end fund manager and a top- ten manager by aum and 2013 net flows of long-term open-end mutual funds1 . in 2013 , we were also the leading manager by net flows for long-dated fixed income mutual funds1 . 2022 we have fully integrated our legacy retail and ishares retail distribution teams to create a unified client-facing presence . as retail clients increasingly use blackrock 2019s capabilities in combination 2014 active , alternative and passive 2014 it is a strategic priority for blackrock to coherently deliver these capabilities through one integrated team . 2022 international retail long-term net inflows of $ 17.5 billion , representing 15% ( 15 % ) organic growth , were positive across major regions and diversified across asset classes . equity net inflows of $ 6.4 billion were driven by strong demand for our top-performing european equities franchise as investor risk appetite for the sector improved . multi-asset class and fixed income products each generated net inflows of $ 4.8 billion , as investors looked to manage duration and volatility in their portfolios . in 2013 , we were ranked as the third largest cross border fund provider2 . in the united kingdom , we ranked among the five largest fund managers2 . ishares .
|( in millions )|component changes in aum 2014 ishares 12/31/2012|component changes in aum 2014 ishares net new business|component changes in aum 2014 ishares acquisition ( 1 )|component changes in aum 2014 ishares market / fx|component changes in aum 2014 ishares 12/31/2013|
|equity|$ 534648|$ 74119|$ 13021|$ 96347|$ 718135|
|fixed income|192852|-7450 ( 7450 )|1294|-7861 ( 7861 )|178835|
|multi-asset class|869|355|2014|86|1310|
|alternatives ( 2 )|24337|-3053 ( 3053 )|1645|-6837 ( 6837 )|16092|
|total ishares|$ 752706|$ 63971|$ 15960|$ 81735|$ 914372|
alternatives ( 2 ) 24337 ( 3053 ) 1645 ( 6837 ) 16092 total ishares $ 752706 $ 63971 $ 15960 $ 81735 $ 914372 ( 1 ) amounts represent $ 16.0 billion of aum acquired in the credit suisse etf acquisition in july 2013 . ( 2 ) amounts include commodity ishares . ishares is the leading etf provider in the world , with $ 914.4 billion of aum at december 31 , 2013 , and was the top asset gatherer globally in 20133 with $ 64.0 billion of net inflows for an organic growth rate of 8% ( 8 % ) . equity net inflows of $ 74.1 billion were driven by flows into funds with broad developed market exposures , partially offset by outflows from emerging markets products . ishares fixed income experienced net outflows of $ 7.5 billion , as the continued low interest rate environment led many liquidity-oriented investors to sell long-duration assets , which made up the majority of the ishares fixed income suite . in 2013 , we launched several funds to meet demand from clients seeking protection in a rising interest rate environment by offering an expanded product set that includes four new u.s . funds , including short-duration versions of our flagship high yield and investment grade credit products , and short maturity and liquidity income funds . ishares alternatives had $ 3.1 billion of net outflows predominantly out of commodities . ishares represented 23% ( 23 % ) of long-term aum at december 31 , 2013 and 35% ( 35 % ) of long-term base fees for ishares offers the most diverse product set in the industry with 703 etfs at year-end 2013 , and serves the broadest client base , covering more than 25 countries on five continents . during 2013 , ishares continued its dual commitment to innovation and responsible product structuring by introducing 42 new etfs , acquiring credit suisse 2019s 58 etfs in europe and entering into a critical new strategic alliance with fidelity investments to deliver fidelity 2019s more than 10 million clients increased access to ishares products , tools and support . our alliance with fidelity investments and a successful full first year for the core series have deeply expanded our presence and offerings among buy-and-hold investors . our broad product range offers investors a precise , transparent and low-cost way to tap market returns and gain access to a full range of asset classes and global markets that have been difficult or expensive for many investors to access until now , as well as the liquidity required to make adjustments to their exposures quickly and cost-efficiently . 2022 u.s . ishares aum ended at $ 655.6 billion with $ 41.4 billion of net inflows driven by strong demand for developed markets equities and short-duration fixed income . during the fourth quarter of 2012 , we debuted the core series in the united states , designed to provide the essential building blocks for buy-and-hold investors to use in constructing the core of their portfolio . the core series demonstrated solid results in its first full year , raising $ 20.0 billion in net inflows , primarily in u.s . equities . in the united states , ishares maintained its position as the largest etf provider , with 39% ( 39 % ) share of aum3 . 2022 international ishares aum ended at $ 258.8 billion with robust net new business of $ 22.6 billion led by demand for european and japanese equities , as well as a diverse range of fixed income products . at year-end 2013 , ishares was the largest european etf provider with 48% ( 48 % ) of aum3 . 1 simfund 2 lipper feri 3 blackrock ; bloomberg .
Question: what portion of the total ishares managed by blackrock is composed of fixed income assets as of december 31 , 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: |
7483.0 | Context:table of contents 17 . unconditional purchase obligations the company has entered into various unconditional purchase obligations which primarily include software licenses and long- term purchase contracts for network , communication and office maintenance services . the company expended $ 7.2 million , $ 5.3 million and $ 2.9 million related to unconditional purchase obligations that existed as of the beginning of each year for the years ended december 31 , 2016 , 2015 and 2014 , respectively . future expenditures under unconditional purchase obligations in effect as of december 31 , 2016 are as follows : ( in thousands ) .
|2017|$ 14134|
|2018|10288|
|2019|9724|
|2020|2617|
|2021|652|
|total|$ 37415|
18 . restructuring during the fourth quarter of 2016 , the company initiated workforce realignment activities . the company incurred $ 3.4 million in restructuring charges , or $ 2.4 million net of tax , during the year ended december 31 , 2016 . the company expects to incur additional charges of $ 10 million - $ 15 million , or $ 7 million - $ 10 million net of tax , primarily during the first quarter of 2017 . 19 . employment-related settlement on february 15 , 2017 , the company entered into an employment-related settlement agreement . in connection with the settlement agreement , the company will make a lump-sum payment of $ 4.7 million . the charges related to this agreement are included in selling , general and administrative expense in the 2016 consolidated statement of income . as part of the settlement agreement , all the claims initiated against the company will be withdrawn and a general release of all claims in favor of the company and all of its related entities was executed . 20 . contingencies and commitments the company is subject to various investigations , claims and legal proceedings that arise in the ordinary course of business , including commercial disputes , labor and employment matters , tax audits , alleged infringement of intellectual property rights and other matters . in the opinion of the company , the resolution of pending matters is not expected to have a material adverse effect on the company's consolidated results of operations , cash flows or financial position . however , each of these matters is subject to various uncertainties and it is possible that an unfavorable resolution of one or more of these proceedings could materially affect the company's results of operations , cash flows or financial position . an indian subsidiary of the company has several service tax audits pending that have resulted in formal inquiries being received on transactions through mid-2012 . the company could incur tax charges and related liabilities , including those related to the service tax audit case , of approximately $ 7 million . the service tax issues raised in the company 2019s notices and inquiries are very similar to the case , m/s microsoft corporation ( i ) ( p ) ltd . vs commissioner of service tax , new delhi , wherein the delhi customs , excise and service tax appellate tribunal ( cestat ) has passed a favorable ruling to microsoft . the company can provide no assurances on whether the microsoft case 2019s favorable ruling will be challenged in higher courts or on the impact that the present microsoft case 2019s decision will have on the company 2019s cases . the company is uncertain as to when these service tax matters will be concluded . a french subsidiary of the company received notice that the french taxing authority rejected the company's 2012 research and development credit . the company has contested the decision . however , if the company does not receive a favorable outcome , it could incur charges of approximately $ 0.8 million . in addition , an unfavorable outcome could result in the authorities reviewing or rejecting $ 3.8 million of similar research and development credits for 2013 through the current year that are currently reflected as an asset . the company can provide no assurances on the timing or outcome of this matter. .
Question: what is the average of future expenditures , in thousands , from 2017-2021? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.76882 | Context:institutions . international paper continually monitors its positions with and the credit quality of these financial institutions and does not expect non- performance by the counterparties . note 14 capital stock the authorized capital stock at both december 31 , 2006 and 2005 , consisted of 990850000 shares of common stock , $ 1 par value ; 400000 shares of cumulative $ 4 preferred stock , without par value ( stated value $ 100 per share ) ; and 8750000 shares of serial preferred stock , $ 1 par value . the serial preferred stock is issuable in one or more series by the board of directors without further shareholder action . in july 2006 , in connection with the planned use of projected proceeds from the company 2019s trans- formation plan , international paper 2019s board of direc- tors authorized a share repurchase program to acquire up to $ 3.0 billion of the company 2019s stock . in a modified 201cdutch auction 201d tender offer completed in september 2006 , international paper purchased 38465260 shares of its common stock at a price of $ 36.00 per share , plus costs to acquire the shares , for a total cost of approximately $ 1.4 billion . in addition , in december 2006 , the company purchased an addi- tional 1220558 shares of its common stock in the open market at an average price of $ 33.84 per share , plus costs to acquire the shares , for a total cost of approximately $ 41 million . following the completion of these share repurchases , international paper had approximately 454 million shares of common stock issued and outstanding . note 15 retirement plans u.s . defined benefit plans international paper maintains pension plans that provide retirement benefits to substantially all domestic employees hired prior to july 1 , 2004 . these employees generally are eligible to participate in the plans upon completion of one year of service and attainment of age 21 . employees hired after june 30 , 2004 , who are not eligible for these pension plans receive an additional company contribution to their savings plan ( see 201cother plans 201d on page 83 ) . the plans provide defined benefits based on years of credited service and either final average earnings ( salaried employees ) , hourly job rates or specified benefit rates ( hourly and union employees ) . for its qualified defined benefit pension plan , interna- tional paper makes contributions that are sufficient to fully fund its actuarially determined costs , gen- erally equal to the minimum amounts required by the employee retirement income security act ( erisa ) . in addition , international paper made volun- tary contributions of $ 1.0 billion to the qualified defined benefit plan in 2006 , and does not expect to make any contributions in 2007 . the company also has two unfunded nonqualified defined benefit pension plans : a pension restoration plan available to employees hired prior to july 1 , 2004 that provides retirement benefits based on eligible compensation in excess of limits set by the internal revenue service , and a supplemental retirement plan for senior managers ( serp ) , which is an alternative retirement plan for senior vice presi- dents and above who are designated by the chief executive officer as participants . these nonqualified plans are only funded to the extent of benefits paid , which are expected to be $ 41 million in 2007 . net periodic pension expense service cost is the actuarial present value of benefits attributed by the plans 2019 benefit formula to services rendered by employees during the year . interest cost represents the increase in the projected benefit obli- gation , which is a discounted amount , due to the passage of time . the expected return on plan assets reflects the computed amount of current year earn- ings from the investment of plan assets using an estimated long-term rate of return . net periodic pension expense for qualified and nonqualified u.s . defined benefit plans comprised the following : in millions 2006 2005 2004 .
|in millions|2006|2005|2004|
|service cost|$ 141|$ 129|$ 115|
|interest cost|506|474|467|
|expected return on plan assets|-540 ( 540 )|-556 ( 556 )|-592 ( 592 )|
|actuarial loss|243|167|94|
|amortization of prior service cost|27|29|27|
|net periodic pension expense ( a )|$ 377|$ 243|$ 111|
( a ) excludes $ 9.1 million , $ 6.5 million and $ 3.4 million in 2006 , 2005 and 2004 , respectively , in curtailment losses , and $ 8.7 million , $ 3.6 million and $ 1.4 million in 2006 , 2005 and 2004 , respectively , of termination benefits , in connection with cost reduction programs and facility rationalizations that were recorded in restructuring and other charges in the con- solidated statement of operations . also excludes $ 77.2 million and $ 14.3 million in 2006 and 2005 , respectively , in curtailment losses , and $ 18.6 million and $ 7.6 million of termination bene- fits in 2006 and 2005 , respectively , related to certain divest- itures recorded in net losses on sales and impairments of businesses held for sale in the consolidated statement of oper- ations. .
Question: in 2006 what was the ratio of the curtailment losses to the termination benefits | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.04367 | Context:compared with $ 6.2 billion in 2013 . operating profits in 2015 were significantly higher than in both 2014 and 2013 . excluding facility closure costs , impairment costs and other special items , operating profits in 2015 were 3% ( 3 % ) lower than in 2014 and 4% ( 4 % ) higher than in 2013 . benefits from lower input costs ( $ 18 million ) , lower costs associated with the closure of our courtland , alabama mill ( $ 44 million ) and favorable foreign exchange ( $ 33 million ) were offset by lower average sales price realizations and mix ( $ 52 million ) , lower sales volumes ( $ 16 million ) , higher operating costs ( $ 18 million ) and higher planned maintenance downtime costs ( $ 26 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|2015|2014|2013|
|sales|$ 5031|$ 5720|$ 6205|
|operating profit ( loss )|533|-16 ( 16 )|271|
north american printing papers net sales were $ 1.9 billion in 2015 , $ 2.1 billion in 2014 and $ 2.6 billion in 2013 . operating profits in 2015 were $ 179 million compared with a loss of $ 398 million ( a gain of $ 156 million excluding costs associated with the shutdown of our courtland , alabama mill ) in 2014 and a gain of $ 36 million ( $ 154 million excluding costs associated with the courtland mill shutdown ) in 2013 . sales volumes in 2015 decreased compared with 2014 primarily due to the closure of our courtland mill in 2014 . shipments to the domestic market increased , but export shipments declined . average sales price realizations decreased , primarily in the domestic market . input costs were lower , mainly for energy . planned maintenance downtime costs were $ 12 million higher in 2015 . operating profits in 2014 were negatively impacted by costs associated with the shutdown of our courtland , alabama mill . entering the first quarter of 2016 , sales volumes are expected to be up slightly compared with the fourth quarter of 2015 . average sales margins should be about flat reflecting lower average sales price realizations offset by a more favorable product mix . input costs are expected to be stable . planned maintenance downtime costs are expected to be about $ 14 million lower with an outage scheduled in the 2016 first quarter at our georgetown mill compared with outages at our eastover and riverdale mills in the 2015 fourth quarter . in january 2015 , the united steelworkers , domtar corporation , packaging corporation of america , finch paper llc and p . h . glatfelter company ( the petitioners ) filed an anti-dumping petition before the united states international trade commission ( itc ) and the united states department of commerce ( doc ) alleging that paper producers in china , indonesia , australia , brazil , and portugal are selling uncoated free sheet paper in sheet form ( the products ) in violation of international trade rules . the petitioners also filed a countervailing-duties petition with these agencies regarding imports of the products from china and indonesia . in january 2016 , the doc announced its final countervailing duty rates on imports of the products to the united states from certain producers from china and indonesia . also , in january 2016 , the doc announced its final anti-dumping duty rates on imports of the products to the united states from certain producers from australia , brazil , china , indonesia and portugal . in february 2016 , the itc concluded its anti- dumping and countervailing duties investigations and made a final determination that the u.s . market had been injured by imports of the products . accordingly , the doc 2019s previously announced countervailing duty rates and anti-dumping duty rates will be in effect for a minimum of five years . we do not believe the impact of these rates will have a material , adverse effect on our consolidated financial statements . brazilian papers net sales for 2015 were $ 878 million compared with $ 1.1 billion in 2014 and $ 1.1 billion in 2013 . operating profits for 2015 were $ 186 million compared with $ 177 million ( $ 209 million excluding costs associated with a tax amnesty program ) in 2014 and $ 210 million in 2013 . sales volumes in 2015 were lower compared with 2014 reflecting weak economic conditions and the absence of 2014 one-time events . average sales price realizations improved for domestic uncoated freesheet paper due to the realization of price increases implemented in the second half of 2015 . margins were unfavorably affected by an increased proportion of sales to the lower-margin export markets . raw material costs increased for energy and wood . operating costs were higher than in 2014 , while planned maintenance downtime costs were $ 4 million lower. .
Question: what was the profit margin from printing papers in 2013 | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.25442 | Context:operating expenses millions 2013 2012 2011 % ( % ) change 2013 v 2012 % ( % ) change 2012 v 2011 .
|millions|2013|2012|2011|% ( % ) change 2013 v 2012|% ( % ) change 2012 v 2011|
|compensation and benefits|$ 4807|$ 4685|$ 4681|3 % ( % )|-% ( - % )|
|fuel|3534|3608|3581|-2 ( 2 )|1|
|purchased services and materials|2315|2143|2005|8|7|
|depreciation|1777|1760|1617|1|9|
|equipment and other rents|1235|1197|1167|3|3|
|other|849|788|782|8|1|
|total|$ 14517|$ 14181|$ 13833|2 % ( % )|3% ( 3 % )|
operating expenses increased $ 336 million in 2013 versus 2012 . wage and benefit inflation , new logistics management fees and container costs for our automotive business , locomotive overhauls , property taxes and repairs on jointly owned property contributed to higher expenses during the year . lower fuel prices partially offset the cost increases . operating expenses increased $ 348 million in 2012 versus 2011 . depreciation , wage and benefit inflation , higher fuel prices and volume- related trucking services purchased by our logistics subsidiaries , contributed to higher expenses during the year . efficiency gains , volume related fuel savings ( 2% ( 2 % ) fewer gallons of fuel consumed ) and $ 38 million of weather related expenses in 2011 , which favorably affects the comparison , partially offset the cost increase . compensation and benefits 2013 compensation and benefits include wages , payroll taxes , health and welfare costs , pension costs , other postretirement benefits , and incentive costs . general wages and benefits inflation , higher work force levels and increased pension and other postretirement benefits drove the increases in 2013 versus 2012 . the impact of ongoing productivity initiatives partially offset these increases . expenses in 2012 were essentially flat versus 2011 as operational improvements and cost reductions offset general wage and benefit inflation and higher pension and other postretirement benefits . in addition , weather related costs increased these expenses in 2011 . fuel 2013 fuel includes locomotive fuel and gasoline for highway and non-highway vehicles and heavy equipment . lower locomotive diesel fuel prices , which averaged $ 3.15 per gallon ( including taxes and transportation costs ) in 2013 , compared to $ 3.22 in 2012 , decreased expenses by $ 75 million . volume , as measured by gross ton-miles , decreased 1% ( 1 % ) while the fuel consumption rate , computed as gallons of fuel consumed divided by gross ton-miles , increased 2% ( 2 % ) compared to 2012 . declines in heavier , more fuel-efficient coal shipments drove the variances in gross-ton-miles and the fuel consumption rate . higher locomotive diesel fuel prices , which averaged $ 3.22 per gallon ( including taxes and transportation costs ) in 2012 , compared to $ 3.12 in 2011 , increased expenses by $ 105 million . volume , as measured by gross ton-miles , decreased 2% ( 2 % ) in 2012 versus 2011 , driving expense down . the fuel consumption rate was flat year-over-year . purchased services and materials 2013 expense for purchased services and materials includes the costs of services purchased from outside contractors and other service providers ( including equipment maintenance and contract expenses incurred by our subsidiaries for external transportation services ) ; materials used to maintain the railroad 2019s lines , structures , and equipment ; costs of operating facilities jointly used by uprr and other railroads ; transportation and lodging for train crew employees ; trucking and contracting costs for intermodal containers ; leased automobile maintenance expenses ; and tools and 2013 operating expenses .
Question: what percentage of total operating expenses was fuel 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: |
0.20819 | Context:74 2012 ppg annual report and form 10-k 25 . separation and merger transaction on january , 28 , 2013 , the company completed the previously announced separation of its commodity chemicals business and merger of its wholly-owned subsidiary , eagle spinco inc. , with a subsidiary of georgia gulf corporation in a tax efficient reverse morris trust transaction ( the 201ctransaction 201d ) . pursuant to the merger , eagle spinco , the entity holding ppg's former commodity chemicals business , is now a wholly-owned subsidiary of georgia gulf . the closing of the merger followed the expiration of the related exchange offer and the satisfaction of certain other conditions . the combined company formed by uniting georgia gulf with ppg's former commodity chemicals business is named axiall corporation ( 201caxiall 201d ) . ppg holds no ownership interest in axiall . ppg received the necessary ruling from the internal revenue service and as a result this transaction was generally tax free to ppg and its shareholders . under the terms of the exchange offer , 35249104 shares of eagle spinco common stock were available for distribution in exchange for shares of ppg common stock accepted in the offer . following the merger , each share of eagle spinco common stock automatically converted into the right to receive one share of axiall corporation common stock . accordingly , ppg shareholders who tendered their shares of ppg common stock as part of this offer received 3.2562 shares of axiall common stock for each share of ppg common stock accepted for exchange . ppg was able to accept the maximum of 10825227 shares of ppg common stock for exchange in the offer , and thereby , reduced its outstanding shares by approximately 7% ( 7 % ) . under the terms of the transaction , ppg received $ 900 million of cash and 35.2 million shares of axiall common stock ( market value of $ 1.8 billion on january 25 , 2013 ) which was distributed to ppg shareholders by the exchange offer as described above . the cash consideration is subject to customary post-closing adjustment , including a working capital adjustment . in the transaction , ppg transferred environmental remediation liabilities , defined benefit pension plan assets and liabilities and other post-employment benefit liabilities related to the commodity chemicals business to axiall . ppg will report a gain on the transaction reflecting the excess of the sum of the cash proceeds received and the cost ( closing stock price on january 25 , 2013 ) of the ppg shares tendered and accepted in the exchange for the 35.2 million shares of axiall common stock over the net book value of the net assets of ppg's former commodity chemicals business . the transaction will also result in a net partial settlement loss associated with the spin out and termination of defined benefit pension liabilities and the transfer of other post-retirement benefit liabilities under the terms of the transaction . during 2012 , the company incurred $ 21 million of pretax expense , primarily for professional services , related to the transaction . additional transaction-related expenses will be incurred in 2013 . ppg will report the results of its commodity chemicals business for january 2013 and a net gain on the transaction as results from discontinued operations when it reports its results for the quarter ending march 31 , 2013 . in the ppg results for prior periods , presented for comparative purposes beginning with the first quarter 2013 , the results of its former commodity chemicals business will be reclassified from continuing operations and presented as the results from discontinued operations . the net sales and income before income taxes of the commodity chemicals business that will be reclassified and reported as discontinued operations are presented in the table below for the years ended december 31 , 2012 , 2011 and 2010: .
|millions|year-ended 2012|year-ended 2011|year-ended 2010|
|net sales|$ 1700|$ 1741|$ 1441|
|income before income taxes|$ 368|$ 376|$ 187|
income before income taxes for the year ended december 31 , 2012 , 2011 and 2010 is $ 4 million lower , $ 6 million higher and $ 2 million lower , respectively , than segment earnings for the ppg commodity chemicals segment reported for these periods . these differences are due to the inclusion of certain gains , losses and expenses associated with the chlor-alkali and derivatives business that were not reported in the ppg commodity chemicals segment earnings in accordance with the accounting guidance on segment reporting . table of contents notes to the consolidated financial statements .
Question: what was the percentage change in net sales of the commodity chemicals business that will be reclassified and reported as discontinued operations 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: |
85.0 | Context:cases ; ( ii ) management is unable to estimate the possible loss or range of loss that could result from an unfavorable outcome in any of the pending tobacco-related cases ; and ( iii ) accordingly , management has not provided any amounts in the consolidated financial statements for unfavorable outcomes , if any . legal defense costs are expensed as incurred . altria group , inc . and its subsidiaries have achieved substantial success in managing litigation . nevertheless , litigation is subject to uncertainty and significant challenges remain . it is possible that the consolidated results of operations , cash flows or financial position of altria group , inc. , or one or more of its subsidiaries , could be materially affected in a particular fiscal quarter or fiscal year by an unfavorable outcome or settlement of certain pending litigation . altria group , inc . and each of its subsidiaries named as a defendant believe , and each has been so advised by counsel handling the respective cases , that it has valid defenses to the litigation pending against it , as well as valid bases for appeal of adverse verdicts . each of the companies has defended , and will continue to defend , vigorously against litigation challenges . however , altria group , inc . and its subsidiaries may enter into settlement discussions in particular cases if they believe it is in the best interests of altria group , inc . to do so . overview of altria group , inc . and/or pm usa tobacco-related litigation types and number of cases : claims related to tobacco products generally fall within the following categories : ( i ) smoking and health cases alleging personal injury brought on behalf of individual plaintiffs ; ( ii ) smoking and health cases primarily alleging personal injury or seeking court- supervised programs for ongoing medical monitoring and purporting to be brought on behalf of a class of individual plaintiffs , including cases in which the aggregated claims of a number of individual plaintiffs are to be tried in a single proceeding ; ( iii ) health care cost recovery cases brought by governmental ( both domestic and foreign ) plaintiffs seeking reimbursement for health care expenditures allegedly caused by cigarette smoking and/or disgorgement of profits ; ( iv ) class action suits alleging that the uses of the terms 201clights 201d and 201cultra lights 201d constitute deceptive and unfair trade practices , common law or statutory fraud , unjust enrichment , breach of warranty or violations of the racketeer influenced and corrupt organizations act ( 201crico 201d ) ; and ( v ) other tobacco- related litigation described below . plaintiffs 2019 theories of recovery and the defenses raised in pending smoking and health , health care cost recovery and 201clights/ultra lights 201d cases are discussed below . the table below lists the number of certain tobacco-related cases pending in the united states against pm usa and , in some instances , altria group , inc . as of december 31 , 2014 , december 31 , 2013 and december 31 , 2012 . type of case number of cases pending as of december 31 , 2014 number of cases pending as of december 31 , 2013 number of cases pending as of december 31 , 2012 individual smoking and health cases ( 1 ) 67 67 77 smoking and health class actions and aggregated claims litigation ( 2 ) 5 6 7 health care cost recovery actions ( 3 ) 1 1 1 .
|type of case|number of casespending as ofdecember 31 2014|number of casespending as ofdecember 31 2013|number of casespending as ofdecember 31 2012|
|individual smoking and health cases ( 1 )|67|67|77|
|smoking and health class actions and aggregated claims litigation ( 2 )|5|6|7|
|health care cost recovery actions ( 3 )|1|1|1|
|201clights/ultra lights 201d class actions|12|15|14|
( 1 ) does not include 2558 cases brought by flight attendants seeking compensatory damages for personal injuries allegedly caused by exposure to environmental tobacco smoke ( 201cets 201d ) . the flight attendants allege that they are members of an ets smoking and health class action in florida , which was settled in 1997 ( broin ) . the terms of the court-approved settlement in that case allow class members to file individual lawsuits seeking compensatory damages , but prohibit them from seeking punitive damages . also , does not include individual smoking and health cases brought by or on behalf of plaintiffs in florida state and federal courts following the decertification of the engle case ( discussed below in smoking and health litigation - engle class action ) . ( 2 ) includes as one case the 600 civil actions ( of which 346 were actions against pm usa ) that were to be tried in a single proceeding in west virginia ( in re : tobacco litigation ) . the west virginia supreme court of appeals has ruled that the united states constitution did not preclude a trial in two phases in this case . issues related to defendants 2019 conduct and whether punitive damages are permissible were tried in the first phase . trial in the first phase of this case began in april 2013 . in may 2013 , the jury returned a verdict in favor of defendants on the claims for design defect , negligence , failure to warn , breach of warranty , and concealment and declined to find that the defendants 2019 conduct warranted punitive damages . plaintiffs prevailed on their claim that ventilated filter cigarettes should have included use instructions for the period 1964 - 1969 . the second phase , if any , will consist of individual trials to determine liability and compensatory damages on that claim only . in august 2013 , the trial court denied all post-trial motions . the trial court entered final judgment in october 2013 and , in november 2013 , plaintiffs filed their notice of appeal to the west virginia supreme court of appeals . on november 3 , 2014 , the west virginia supreme court of appeals affirmed the final judgment . plaintiffs filed a petition for rehearing with the west virginia supreme court of appeals , which the court denied on january 8 , 2015 . ( 3 ) see health care cost recovery litigation - federal government 2019s lawsuit below . altria group , inc . and subsidiaries notes to consolidated financial statements _________________________ altria_mdc_2014form10k_nolinks_crops.pdf 68 2/25/15 5:56 pm .
Question: what is the total tobacco-related cases pending in the united states as of december 31 , 2014? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
4.1 | Context:table of contents valero energy corporation notes to consolidated financial statements ( continued ) 11 . equity share activity activity in the number of shares of common stock and treasury stock was as follows ( in millions ) : common treasury .
||commonstock|treasurystock|
|balance as of december 31 2015|673|-200 ( 200 )|
|transactions in connection withstock-based compensation plans|2014|1|
|stock purchases under purchase program|2014|-23 ( 23 )|
|balance as of december 31 2016|673|-222 ( 222 )|
|transactions in connection withstock-based compensation plans|2014|1|
|stock purchases under purchase programs|2014|-19 ( 19 )|
|balance as of december 31 2017|673|-240 ( 240 )|
|stock purchases under purchase programs|2014|-16 ( 16 )|
|balance as of december 31 2018|673|-256 ( 256 )|
preferred stock we have 20 million shares of preferred stock authorized with a par value of $ 0.01 per share . no shares of preferred stock were outstanding as of december 31 , 2018 or 2017 . treasury stock we purchase shares of our common stock as authorized under our common stock purchase program ( described below ) and to meet our obligations under employee stock-based compensation plans . on july 13 , 2015 , our board of directors authorized us to purchase $ 2.5 billion of our outstanding common stock with no expiration date , and we completed that program during 2017 . on september 21 , 2016 , our board of directors authorized our purchase of up to an additional $ 2.5 billion with no expiration date , and we completed that program during 2018 . on january 23 , 2018 , our board of directors authorized our purchase of up to an additional $ 2.5 billion ( the 2018 program ) with no expiration date . during the years ended december 31 , 2018 , 2017 , and 2016 , we purchased $ 1.5 billion , $ 1.3 billion , and $ 1.3 billion , respectively , of our common stock under our programs . as of december 31 , 2018 , we have approval under the 2018 program to purchase approximately $ 2.2 billion of our common stock . common stock dividends on january 24 , 2019 , our board of directors declared a quarterly cash dividend of $ 0.90 per common share payable on march 5 , 2019 to holders of record at the close of business on february 13 , 2019 . valero energy partners lp units on september 16 , 2016 , vlp entered into an equity distribution agreement pursuant to which vlp offered and sold from time to time their common units having an aggregate offering price of up to $ 350 million based on amounts , at prices , and on terms determined by market conditions and other factors at the time of .
Question: how much , in billions , was spent purchasing common stock under the programs from 2016-2018? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-26.0 | Context:investments prior to our acquisition of keystone on october 12 , 2007 , we held common shares of keystone , which were classified as an available-for-sale investment security . accordingly , the investment was included in other assets at its fair value , with the unrealized gain excluded from earnings and included in accumulated other comprehensive income , net of applicable taxes . upon our acquisition of keystone on october 12 , 2007 , the unrealized gain was removed from accumulated other comprehensive income , net of applicable taxes , and the original cost of the common shares was considered a component of the purchase price . fair value of financial instruments our debt is reflected on the balance sheet at cost . based on current market conditions , our interest rate margins are below the rate available in the market , which causes the fair value of our debt to fall below the carrying value . the fair value of our term loans ( see note 6 , 201clong-term obligations 201d ) is approximately $ 570 million at december 31 , 2009 , as compared to the carrying value of $ 596 million . we estimated the fair value of our term loans by calculating the upfront cash payment a market participant would require to assume our obligations . the upfront cash payment , excluding any issuance costs , is the amount that a market participant would be able to lend at december 31 , 2009 to an entity with a credit rating similar to ours and achieve sufficient cash inflows to cover the scheduled cash outflows under our term loans . the carrying amounts of our cash and equivalents , net trade receivables and accounts payable approximate fair value . we apply the market approach to value our financial assets and liabilities , which include the cash surrender value of life insurance , deferred compensation liabilities and interest rate swaps . the market approach utilizes available market information to estimate fair value . required fair value disclosures are included in note 8 , 201cfair value measurements . 201d accrued expenses we self-insure a portion of employee medical benefits under the terms of our employee health insurance program . we purchase certain stop-loss insurance to limit our liability exposure . we also self-insure a portion of our property and casualty risk , which includes automobile liability , general liability , workers 2019 compensation and property under deductible insurance programs . the insurance premium costs are expensed over the contract periods . a reserve for liabilities associated with these losses is established for claims filed and claims incurred but not yet reported based upon our estimate of ultimate cost , which is calculated using analyses of historical data . we monitor new claims and claim development as well as trends related to the claims incurred but not reported in order to assess the adequacy of our insurance reserves . self-insurance reserves on the consolidated balance sheets are net of claims deposits of $ 0.7 million and $ 0.8 million , at december 31 , 2009 and 2008 , respectively . while we do not expect the amounts ultimately paid to differ significantly from our estimates , our insurance reserves and corresponding expenses could be affected if future claim experience differs significantly from historical trends and assumptions . product warranties some of our mechanical products are sold with a standard six-month warranty against defects . we record the estimated warranty costs at the time of sale using historical warranty claim information to project future warranty claims activity and related expenses . the changes in the warranty reserve are as follows ( in thousands ) : .
|balance as of january 1 2008|$ 580|
|warranty expense|3681|
|warranty claims|-3721 ( 3721 )|
|balance as of december 31 2008|540|
|warranty expense|5033|
|warranty claims|-4969 ( 4969 )|
|balance as of december 31 2009|$ 604|
.
Question: at december 2009 what was the range between the carrying and the fair value of our term loans | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.2725 | Context:purchases of equity securities 2013 during 2018 , we repurchased 57669746 shares of our common stock at an average price of $ 143.70 . the following table presents common stock repurchases during each month for the fourth quarter of 2018 : 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 remaining under the plan or program [b] .
|period|total number of shares purchased [a]|average price paid per share|total number of shares purchased as part of a publicly announcedplan or program [b]|maximum number of shares remaining under the plan or program [b]|
|oct . 1 through oct . 31|6091605|$ 158.20|6087727|32831024|
|nov . 1 through nov . 30|3408467|147.91|3402190|29428834|
|dec . 1 through dec . 31|3007951|148.40|3000715|26428119|
|total|12508023|$ 153.04|12490632|n/a|
[a] total number of shares purchased during the quarter includes approximately 17391 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 , 2017 , our board of directors authorized the repurchase of up to 120 million shares of our common stock by december 31 , 2020 . 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 percentage of the total number of shares purchased where purchased in november? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.09619 | Context:advance auto parts , inc . and subsidiaries notes to the consolidated financial statements december 31 , 2011 , january 1 , 2011 and january 2 , 2010 ( in thousands , except per share data ) 2011-12 superseded certain pending paragraphs in asu 2011-05 201ccomprehensive income 2013 presentation of comprehensive income 201d to effectively defer only those changes in asu 2011-05 that related to the presentation of reclassification adjustments out of accumulated other comprehensive income . the adoption of asu 2011-05 is not expected to have a material impact on the company 2019s consolidated financial condition , results of operations or cash flows . in january 2010 , the fasb issued asu no . 2010-06 201cfair value measurements and disclosures 2013 improving disclosures about fair value measurements . 201d asu 2010-06 requires new disclosures for significant transfers in and out of level 1 and 2 of the fair value hierarchy and the activity within level 3 of the fair value hierarchy . the updated guidance also clarifies existing disclosures regarding the level of disaggregation of assets or liabilities and the valuation techniques and inputs used to measure fair value . the updated guidance is effective for interim and annual reporting periods beginning after december 15 , 2009 , with the exception of the new level 3 activity disclosures , which are effective for interim and annual reporting periods beginning after december 15 , 2010 . the adoption of asu 2010-06 had no impact on the company 2019s consolidated financial condition , results of operations or cash flows . 3 . inventories , net : merchandise inventory the company used the lifo method of accounting for approximately 95% ( 95 % ) of inventories at december 31 , 2011 and january 1 , 2011 . under lifo , the company 2019s cost of sales reflects the costs of the most recently purchased inventories , while the inventory carrying balance represents the costs for inventories purchased in fiscal 2011 and prior years . as a result of utilizing lifo , the company recorded an increase to cost of sales of $ 24708 for fiscal 2011 due to an increase in supply chain costs and inflationary pressures affecting certain product categories . the company recorded a reduction to cost of sales of $ 29554 and $ 16040 for fiscal 2010 and 2009 , respectively . prior to fiscal 2011 , the company 2019s overall costs to acquire inventory for the same or similar products generally decreased historically as the company has been able to leverage its continued growth , execution of merchandise strategies and realization of supply chain efficiencies . product cores the remaining inventories are comprised of product cores , the non-consumable portion of certain parts and batteries , which are valued under the first-in , first-out ( "fifo" ) method . product cores are included as part of the company's merchandise costs and are either passed on to the customer or returned to the vendor . because product cores are not subject to frequent cost changes like the company's other merchandise inventory , there is no material difference when applying either the lifo or fifo valuation method . inventory overhead costs purchasing and warehousing costs included in inventory , at fifo , at december 31 , 2011 and january 1 , 2011 , were $ 126840 and $ 103989 , respectively . inventory balance and inventory reserves inventory balances at year-end for fiscal 2011 and 2010 were as follows : inventories at fifo , net adjustments to state inventories at lifo inventories at lifo , net december 31 , $ 1941055 102103 $ 2043158 january 1 , $ 1737059 126811 $ 1863870 .
||december 312011|january 12011|
|inventories at fifo net|$ 1941055|$ 1737059|
|adjustments to state inventories at lifo|102103|126811|
|inventories at lifo net|$ 2043158|$ 1863870|
advance auto parts , inc . and subsidiaries notes to the consolidated financial statements december 31 , 2011 , january 1 , 2011 and january 2 , 2010 ( in thousands , except per share data ) 2011-12 superseded certain pending paragraphs in asu 2011-05 201ccomprehensive income 2013 presentation of comprehensive income 201d to effectively defer only those changes in asu 2011-05 that related to the presentation of reclassification adjustments out of accumulated other comprehensive income . the adoption of asu 2011-05 is not expected to have a material impact on the company 2019s consolidated financial condition , results of operations or cash flows . in january 2010 , the fasb issued asu no . 2010-06 201cfair value measurements and disclosures 2013 improving disclosures about fair value measurements . 201d asu 2010-06 requires new disclosures for significant transfers in and out of level 1 and 2 of the fair value hierarchy and the activity within level 3 of the fair value hierarchy . the updated guidance also clarifies existing disclosures regarding the level of disaggregation of assets or liabilities and the valuation techniques and inputs used to measure fair value . the updated guidance is effective for interim and annual reporting periods beginning after december 15 , 2009 , with the exception of the new level 3 activity disclosures , which are effective for interim and annual reporting periods beginning after december 15 , 2010 . the adoption of asu 2010-06 had no impact on the company 2019s consolidated financial condition , results of operations or cash flows . 3 . inventories , net : merchandise inventory the company used the lifo method of accounting for approximately 95% ( 95 % ) of inventories at december 31 , 2011 and january 1 , 2011 . under lifo , the company 2019s cost of sales reflects the costs of the most recently purchased inventories , while the inventory carrying balance represents the costs for inventories purchased in fiscal 2011 and prior years . as a result of utilizing lifo , the company recorded an increase to cost of sales of $ 24708 for fiscal 2011 due to an increase in supply chain costs and inflationary pressures affecting certain product categories . the company recorded a reduction to cost of sales of $ 29554 and $ 16040 for fiscal 2010 and 2009 , respectively . prior to fiscal 2011 , the company 2019s overall costs to acquire inventory for the same or similar products generally decreased historically as the company has been able to leverage its continued growth , execution of merchandise strategies and realization of supply chain efficiencies . product cores the remaining inventories are comprised of product cores , the non-consumable portion of certain parts and batteries , which are valued under the first-in , first-out ( "fifo" ) method . product cores are included as part of the company's merchandise costs and are either passed on to the customer or returned to the vendor . because product cores are not subject to frequent cost changes like the company's other merchandise inventory , there is no material difference when applying either the lifo or fifo valuation method . inventory overhead costs purchasing and warehousing costs included in inventory , at fifo , at december 31 , 2011 and january 1 , 2011 , were $ 126840 and $ 103989 , respectively . inventory balance and inventory reserves inventory balances at year-end for fiscal 2011 and 2010 were as follows : inventories at fifo , net adjustments to state inventories at lifo inventories at lifo , net december 31 , $ 1941055 102103 $ 2043158 january 1 , $ 1737059 126811 $ 1863870 .
Question: what percentage did ne inventories at lifo increase over the 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: |
0.34884 | Context:( $ 125 million ) and higher maintenance outage costs ( $ 18 million ) . additionally , operating profits in 2012 include costs of $ 184 million associated with the acquisition and integration of temple-inland , mill divestiture costs of $ 91 million , costs associated with the restructuring of our european packaging busi- ness of $ 17 million and a $ 3 million gain for other items , while operating costs in 2011 included costs associated with signing an agreement to acquire temple-inland of $ 20 million and a gain of $ 7 million for other items . industrial packaging .
|in millions|2012|2011|2010|
|sales|$ 13280|$ 10430|$ 9840|
|operating profit|1066|1147|826|
north american industr ia l packaging net sales were $ 11.6 billion in 2012 compared with $ 8.6 billion in 2011 and $ 8.4 billion in 2010 . operating profits in 2012 were $ 1.0 billion ( $ 1.3 billion exclud- ing costs associated with the acquisition and integration of temple-inland and mill divestiture costs ) compared with $ 1.1 billion ( both including and excluding costs associated with signing an agree- ment to acquire temple-inland ) in 2011 and $ 763 million ( $ 776 million excluding facility closure costs ) in 2010 . sales volumes for the legacy business were about flat in 2012 compared with 2011 . average sales price was lower mainly due to export containerboard sales prices which bottomed out in the first quarter but climbed steadily the rest of the year . input costs were lower for recycled fiber , wood and natural gas , but higher for starch . freight costs also increased . plan- ned maintenance downtime costs were higher than in 2011 . operating costs were higher largely due to routine inventory valuation adjustments operating profits in 2012 benefited from $ 235 million of temple-inland synergies . market-related downtime in 2012 was about 570000 tons compared with about 380000 tons in 2011 . operating profits in 2012 included $ 184 million of costs associated with the acquisition and integration of temple-inland and $ 91 million of costs associated with the divestiture of three containerboard mills . operating profits in 2011 included charges of $ 20 million for costs associated with the signing of the agreement to acquire temple- inland . looking ahead to 2013 , sales volumes in the first quarter compared with the fourth quarter of 2012 are expected to increase slightly for boxes due to a higher number of shipping days . average sales price realizations are expected to reflect the pass-through to box customers of a containerboard price increase implemented in 2012 . input costs are expected to be higher for recycled fiber , wood and starch . planned maintenance downtime costs are expected to be about $ 26 million higher with outages scheduled at eight mills compared with six mills in the 2012 fourth quarter . manufacturing operating costs are expected to be lower . european industr ia l packaging net sales were $ 1.0 billion in 2012 compared with $ 1.1 billion in 2011 and $ 990 million in 2010 . operating profits in 2012 were $ 53 million ( $ 72 million excluding restructuring costs ) compared with $ 66 million ( $ 61 million excluding a gain for a bargain purchase price adjustment on an acquisition by our joint venture in turkey and costs associated with the closure of our etienne mill in france in 2009 ) in 2011 and $ 70 mil- lion ( $ 73 million before closure costs for our etienne mill ) in 2010 . sales volumes in 2012 were lower than in 2011 reflecting decreased demand for packaging in the industrial market due to a weaker overall economic environment in southern europe . demand for pack- aging in the agricultural markets was about flat year- over-year . average sales margins increased due to sales price increases implemented during 2011 and 2012 and lower board costs . other input costs were higher , primarily for energy and distribution . operat- ing profits in 2012 included a net gain of $ 10 million for an insurance settlement , partially offset by addi- tional operating costs , related to the earthquakes in northern italy in may which affected our san felice box plant . entering the first quarter of 2013 , sales volumes are expected to be stable reflecting a seasonal decrease in market demand in agricultural markets offset by an increase in industrial markets . average sales margins are expected to improve due to lower input costs for containerboard . other input costs should be about flat . operating costs are expected to be higher reflecting the absence of the earthquake insurance settlement that was received in the 2012 fourth quar- asian industr ia l packaging net sales and operating profits include the results of sca pack- aging since the acquisition on june 30 , 2010 , includ- ing the impact of incremental integration costs . net sales for the packaging operations were $ 400 million in 2012 compared with $ 410 million in 2011 and $ 255 million in 2010 . operating profits for the packaging operations were $ 2 million in 2012 compared with $ 2 million in 2011 and a loss of $ 7 million ( a loss of $ 4 million excluding facility closure costs ) in 2010 . operating profits were favorably impacted by higher average sales margins in 2012 compared with 2011 , but this benefit was offset by lower sales volumes and higher raw material costs and operating costs . looking ahead to the first quarter of 2013 , sales volumes and average sales margins are expected to decrease due to seasonality . net sales for the distribution operations were $ 260 million in 2012 compared with $ 285 million in 2011 and $ 240 million in 2010 . operating profits were $ 3 million in 2012 compared with $ 3 million in 2011 and about breakeven in 2010. .
Question: what was the percentage change in the north american industrial packaging net sales in 2012 | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.19086 | Context:accounts receivable , net october 31 , 2006 october 31 , 2005 dollar change change .
|october 31 2006|october 31 2005|dollar change|% ( % ) change|
|( dollars in millions )|( dollars in millions )|||
|$ 122.6|$ 100.2|$ 22.4|22% ( 22 % )|
the increase in accounts receivable was primarily due to the increased billings during the fiscal year ended october 31 , 2006 . days sales outstanding ( dso ) was 39 days at october 31 , 2006 and 36 days at october 31 , 2005 . our accounts receivable and dso are primarily driven by our billing and collections activities . net working capital working capital is comprised of current assets less current liabilities , as shown on our balance sheet . as of october 31 , 2006 , our working capital was $ 23.4 million , compared to $ 130.6 million as of october 31 , 2005 . the decrease in net working capital of $ 107.2 million was primarily due to ( 1 ) a decrease of $ 73.7 million in cash and cash equivalents ; ( 2 ) a decrease of current deferred tax assets of $ 83.2 million , primarily due to a tax accounting method change ; ( 3 ) a decrease in income taxes receivable of $ 5.8 million ; ( 4 ) an increase in income taxes payable of $ 21.5 million ; ( 5 ) an increase in deferred revenue of $ 29.9 million ; and ( 6 ) a net increase of $ 2.8 million in accounts payable and other liabilities which included a reclassification of debt of $ 7.5 million from long term to short term debt . this decrease was partially offset by ( 1 ) an increase in short-term investments of $ 59.9 million ; ( 2 ) an increase in prepaid and other assets of $ 27.4 million , which includes land of $ 23.4 million reclassified from property plant and equipment to asset held for sale within prepaid expense and other assets on our consolidated balance sheet ; and ( 3 ) an increase in accounts receivable of $ 22.4 million . other commitments 2014revolving credit facility on october 20 , 2006 , we entered into a five-year , $ 300.0 million senior unsecured revolving credit facility providing for loans to synopsys and certain of its foreign subsidiaries . the facility replaces our previous $ 250.0 million senior unsecured credit facility , which was terminated effective october 20 , 2006 . the amount of the facility may be increased by up to an additional $ 150.0 million through the fourth year of the facility . the facility contains financial covenants requiring us to maintain a minimum leverage ratio and specified levels of cash , as well as other non-financial covenants . the facility terminates on october 20 , 2011 . borrowings under the facility bear interest at the greater of the administrative agent 2019s prime rate or the federal funds rate plus 0.50% ( 0.50 % ) ; however , we have the option to pay interest based on the outstanding amount at eurodollar rates plus a spread between 0.50% ( 0.50 % ) and 0.70% ( 0.70 % ) based on a pricing grid tied to a financial covenant . in addition , commitment fees are payable on the facility at rates between 0.125% ( 0.125 % ) and 0.175% ( 0.175 % ) per year based on a pricing grid tied to a financial covenant . as of october 31 , 2006 we had no outstanding borrowings under this credit facility and were in compliance with all the covenants . we believe that our current cash , cash equivalents , short-term investments , cash generated from operations , and available credit under our credit facility will satisfy our business requirements for at least the next twelve months. .
Question: considering the year 2006 , what is the percentage of working capital among the total accounts receivable? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.68156 | Context:between the actual return on plan assets compared to the expected return on plan assets ( u.s . pension plans had an actual rate of return of 7.8 percent compared to an expected rate of return of 6.9 percent ) . 2022 2015 net mark-to-market loss of $ 179 million - primarily due to the difference between the actual return on plan assets compared to the expected return on plan assets ( u.s . pension plans had an actual rate of return of ( 2.0 ) percent compared to an expected rate of return of 7.4 percent ) which was partially offset by higher discount rates at the end of 2015 compared to 2014 . the net mark-to-market losses were in the following results of operations line items: .
|( millions of dollars )|years ended december 31 , 2017|years ended december 31 , 2016|years ended december 31 , 2015|
|cost of goods sold|$ -29 ( 29 )|$ 476|$ 122|
|selling general and administrative expenses|244|382|18|
|research and development expenses|86|127|39|
|total|$ 301|$ 985|$ 179|
effective january 1 , 2018 , we adopted new accounting guidance issued by the fasb related to the presentation of net periodic pension and opeb costs . this guidance requires that an employer disaggregate the service cost component from the other components of net benefit cost . service cost is required to be reported in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period . the other components of net benefit cost are required to be reported outside the subtotal for income from operations . as a result , components of pension and opeb costs , other than service costs , will be reclassified from operating costs to other income/expense . this change will be applied retrospectively to prior years . in the fourth quarter of 2017 , the company reviewed and made changes to the mortality assumptions primarily for our u.s . pension plans which resulted in an overall increase in the life expectancy of plan participants . as of december 31 , 2017 these changes resulted in an increase in our liability for postemployment benefits of approximately $ 290 million . in the fourth quarter of 2016 , the company adopted new mortality improvement scales released by the soa for our u.s . pension and opeb plans . as of december 31 , 2016 , this resulted in an increase in our liability for postemployment benefits of approximately $ 200 million . in the first quarter of 2017 , we announced the closure of our gosselies , belgium facility . this announcement impacted certain employees that participated in a defined benefit pension plan and resulted in a curtailment and the recognition of termination benefits . in march 2017 , we recognized a net loss of $ 20 million for the curtailment and termination benefits . in addition , we announced the decision to phase out production at our aurora , illinois , facility , which resulted in termination benefits of $ 9 million for certain hourly employees that participate in our u.s . hourly defined benefit pension plan . beginning in 2016 , we elected to utilize a full yield curve approach in the estimation of service and interest costs by applying the specific spot rates along the yield curve used in the determination of the benefit obligation to the relevant projected cash flows . service and interest costs in 2017 and 2016 were lower by $ 140 million and $ 180 million , respectively , under the new method than they would have been under the previous method . this change had no impact on our year-end defined benefit pension and opeb obligations or our annual net periodic benefit cost as the lower service and interest costs were entirely offset in the actuarial loss ( gain ) reported for the respective year . we expect our total defined benefit pension and opeb expense ( excluding the impact of mark-to-market gains and losses ) to decrease approximately $ 80 million in 2018 . this decrease is primarily due to a higher expected return on plan assets as a result of a higher asset base in 2018 . in general , our strategy for both the u.s . and the non-u.s . pensions includes ongoing alignment of our investments to our liabilities , while reducing risk in our portfolio . for our u.s . pension plans , our year-end 2017 asset allocation was 34 a0percent equities , 62 a0percent fixed income and 4 percent other . our current u.s . pension target asset allocation is 30 percent equities and 70 percent fixed income . the target allocation is revisited periodically to ensure it reflects our overall objectives . the u.s . plans are rebalanced to plus or minus 5 percentage points of the target asset allocation ranges on a monthly basis . the year-end 2017 asset allocation for our non-u.s . pension plans was 40 a0percent equities , 53 a0percent fixed income , 4 a0percent real estate and 3 percent other . the 2017 weighted-average target allocations for our non-u.s . pension plans was 38 a0percent equities , 54 a0percent fixed income , 5 a0percent real estate and 3 a0percent other . the target allocations for each plan vary based upon local statutory requirements , demographics of the plan participants and funded status . the frequency of rebalancing for the non-u.s . plans varies depending on the plan . contributions to our pension and opeb plans were $ 1.6 billion and $ 329 million in 2017 and 2016 , respectively . the 2017 contributions include a $ 1.0 billion discretionary contribution made to our u.s . pension plans in december 2017 . we expect to make approximately $ 365 million of contributions to our pension and opeb plans in 2018 . we believe we have adequate resources to fund both pension and opeb plans . 48 | 2017 form 10-k .
Question: what portion of the net mark-to-market loss were driven by cost of good sold in 2015? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
2.71786 | Context:table of contents the following table discloses purchases of shares of our common stock made by us or on our behalf during the fourth quarter of 2016 . period total number of shares purchased average price paid per share total number of shares not purchased as part of publicly announced plans or programs ( a ) total number of shares purchased as part of publicly announced plans or programs approximate dollar value of shares that may yet be purchased under the plans or programs ( b ) .
|period|total numberof sharespurchased|averageprice paidper share|total number ofshares notpurchased as part ofpublicly announcedplans or programs ( a )|total number ofshares purchased aspart of publiclyannounced plans orprograms|approximate dollarvalue of shares thatmay yet be purchasedunder the plans orprograms ( b )|
|october 2016|433272|$ 52.69|50337|382935|$ 2.7 billion|
|november 2016|667644|$ 62.25|248349|419295|$ 2.6 billion|
|december 2016|1559569|$ 66.09|688|1558881|$ 2.5 billion|
|total|2660485|$ 62.95|299374|2361111|$ 2.5 billion|
( a ) the shares reported in this column represent purchases settled in the fourth quarter of 2016 relating to ( i ) our purchases of shares in open-market transactions to meet our obligations under stock-based compensation plans , and ( ii ) our purchases of shares from our employees and non-employee directors in connection with the exercise of stock options , the vesting of restricted stock , and other stock compensation transactions in accordance with the terms of our stock-based compensation plans . ( b ) on july 13 , 2015 , we announced that our board of directors authorized our purchase of up to $ 2.5 billion of our outstanding common stock . this authorization has no expiration date . as of december 31 , 2016 , the approximate dollar value of shares that may yet be purchased under the 2015 authorization is $ 40 million . on september 21 , 2016 , we announced that our board of directors authorized our purchase of up to an additional $ 2.5 billion of our outstanding common stock with no expiration date . as of december 31 , 2016 , no purchases have been made under the 2016 authorization. .
Question: what is the percentage increase of shares purchased as part of publicly announced plans from nov 2016 to dec 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: |
0.24344 | Context:operating expenses millions 2013 2012 2011 % ( % ) change 2013 v 2012 % ( % ) change 2012 v 2011 .
|millions|2013|2012|2011|% ( % ) change 2013 v 2012|% ( % ) change 2012 v 2011|
|compensation and benefits|$ 4807|$ 4685|$ 4681|3 % ( % )|-% ( - % )|
|fuel|3534|3608|3581|-2 ( 2 )|1|
|purchased services and materials|2315|2143|2005|8|7|
|depreciation|1777|1760|1617|1|9|
|equipment and other rents|1235|1197|1167|3|3|
|other|849|788|782|8|1|
|total|$ 14517|$ 14181|$ 13833|2 % ( % )|3% ( 3 % )|
operating expenses increased $ 336 million in 2013 versus 2012 . wage and benefit inflation , new logistics management fees and container costs for our automotive business , locomotive overhauls , property taxes and repairs on jointly owned property contributed to higher expenses during the year . lower fuel prices partially offset the cost increases . operating expenses increased $ 348 million in 2012 versus 2011 . depreciation , wage and benefit inflation , higher fuel prices and volume- related trucking services purchased by our logistics subsidiaries , contributed to higher expenses during the year . efficiency gains , volume related fuel savings ( 2% ( 2 % ) fewer gallons of fuel consumed ) and $ 38 million of weather related expenses in 2011 , which favorably affects the comparison , partially offset the cost increase . compensation and benefits 2013 compensation and benefits include wages , payroll taxes , health and welfare costs , pension costs , other postretirement benefits , and incentive costs . general wages and benefits inflation , higher work force levels and increased pension and other postretirement benefits drove the increases in 2013 versus 2012 . the impact of ongoing productivity initiatives partially offset these increases . expenses in 2012 were essentially flat versus 2011 as operational improvements and cost reductions offset general wage and benefit inflation and higher pension and other postretirement benefits . in addition , weather related costs increased these expenses in 2011 . fuel 2013 fuel includes locomotive fuel and gasoline for highway and non-highway vehicles and heavy equipment . lower locomotive diesel fuel prices , which averaged $ 3.15 per gallon ( including taxes and transportation costs ) in 2013 , compared to $ 3.22 in 2012 , decreased expenses by $ 75 million . volume , as measured by gross ton-miles , decreased 1% ( 1 % ) while the fuel consumption rate , computed as gallons of fuel consumed divided by gross ton-miles , increased 2% ( 2 % ) compared to 2012 . declines in heavier , more fuel-efficient coal shipments drove the variances in gross-ton-miles and the fuel consumption rate . higher locomotive diesel fuel prices , which averaged $ 3.22 per gallon ( including taxes and transportation costs ) in 2012 , compared to $ 3.12 in 2011 , increased expenses by $ 105 million . volume , as measured by gross ton-miles , decreased 2% ( 2 % ) in 2012 versus 2011 , driving expense down . the fuel consumption rate was flat year-over-year . purchased services and materials 2013 expense for purchased services and materials includes the costs of services purchased from outside contractors and other service providers ( including equipment maintenance and contract expenses incurred by our subsidiaries for external transportation services ) ; materials used to maintain the railroad 2019s lines , structures , and equipment ; costs of operating facilities jointly used by uprr and other railroads ; transportation and lodging for train crew employees ; trucking and contracting costs for intermodal containers ; leased automobile maintenance expenses ; and tools and 2013 operating expenses .
Question: what percentage of total operating expenses was fuel in 2013? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
2239101.0 | Context:the following table discloses purchases of shares of valero 2019s common stock made by us or on our behalf during the fourth quarter of period total number of shares purchased average price paid per share total number of shares not purchased as part of publicly announced plans or programs ( a ) total number of shares purchased as part of publicly announced plans or programs approximate dollar value of shares that may yet be purchased under the plans or programs ( b ) .
|period|total numberof sharespurchased|averageprice paidper share|total number ofshares notpurchased as part ofpublicly announcedplans or programs ( a )|total number ofshares purchased aspart of publiclyannounced plans orprograms|approximate dollarvalue of shares thatmay yet be purchasedunder the plans orprograms ( b )|
|october 2014|3180678|$ 46.27|302005|2878673|$ 1.8 billion|
|november 2014|2001273|$ 50.32|119047|1882226|$ 1.7 billion|
|december 2014|5120398|$ 48.56|2624|5117774|$ 1.5 billion|
|total|10302349|$ 48.20|423676|9878673|$ 1.5 billion|
( a ) the shares reported in this column represent purchases settled in the fourth quarter of 2014 relating to ( i ) our purchases of shares in open-market transactions to meet our obligations under stock-based compensation plans , and ( ii ) our purchases of shares from our employees and non-employee directors in connection with the exercise of stock options , the vesting of restricted stock , and other stock compensation transactions in accordance with the terms of our stock-based compensation plans . ( b ) on february 28 , 2008 , we announced that our board of directors approved a $ 3 billion common stock purchase program . this $ 3 billion program has no expiration date. .
Question: how many more shares were purchased as part of publicly announced plans in december 2014 than october 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: |
0.76023 | Context:exchanged installment notes totaling approximately $ 4.8 billion and approximately $ 400 million of inter- national paper promissory notes for interests in enti- ties formed to monetize the notes . international paper determined that it was not the primary benefi- ciary of these entities , and therefore should not consolidate its investments in these entities . during 2006 , these entities acquired an additional $ 4.8 bil- lion of international paper debt securities for cash , resulting in a total of approximately $ 5.2 billion of international paper debt obligations held by these entities at december 31 , 2006 . since international paper has , and intends to affect , a legal right to offset its obligations under these debt instruments with its investments in the entities , international paper has offset $ 5.0 billion of interest in the entities against $ 5.0 billion of international paper debt obligations held by the entities as of december 31 , 2007 . international paper also holds variable interests in two financing entities that were used to monetize long-term notes received from sales of forestlands in 2002 and 2001 . see note 8 of the notes to consolidated financial statements in item 8 . financial statements and supplementary data for a further discussion of these transactions . capital resources outlook for 2008 international paper expects to be able to meet pro- jected capital expenditures , service existing debt and meet working capital and dividend requirements during 2008 through current cash balances and cash from operations , supplemented as required by its various existing credit facilities . international paper has approximately $ 2.5 billion of committed bank credit agreements , which management believes is adequate to cover expected operating cash flow variability during our industry 2019s economic cycles . the agreements generally provide for interest rates at a floating rate index plus a pre-determined margin dependent upon international paper 2019s credit rating . the agreements include a $ 1.5 billion fully commit- ted revolving bank credit agreement that expires in march 2011 and has a facility fee of 0.10% ( 0.10 % ) payable quarterly . these agreements also include up to $ 1.0 billion of available commercial paper-based financ- ings under a receivables securitization program that expires in october 2009 with a facility fee of 0.10% ( 0.10 % ) . at december 31 , 2007 , there were no borrowings under either the bank credit agreements or receiv- ables securitization program . the company will continue to rely upon debt and capital markets for the majority of any necessary long-term funding not provided by operating cash flows . funding decisions will be guided by our capi- tal structure planning objectives . the primary goals of the company 2019s capital structure planning are to maximize financial flexibility and preserve liquidity while reducing interest expense . the majority of international paper 2019s debt is accessed through global public capital markets where we have a wide base of investors . the company was in compliance with all its debt covenants at december 31 , 2007 . principal financial covenants include maintenance of a minimum net worth , defined as the sum of common stock , paid-in capital and retained earnings , less treasury stock , plus any goodwill impairment charges , of $ 9 billion ; and a maximum total debt to capital ratio , defined as total debt divided by total debt plus net worth , of 60% ( 60 % ) . maintaining an investment grade credit rating is an important element of international paper 2019s financing strategy . at december 31 , 2007 , the company held long-term credit ratings of bbb ( stable outlook ) and baa3 ( stable outlook ) by standard & poor 2019s ( s&p ) and moody 2019s investor services ( moody 2019s ) , respectively . the company currently has short-term credit ratings by s&p and moody 2019s of a-2 and p-3 , respectively . contractual obligations for future payments under existing debt and lease commitments and purchase obligations at december 31 , 2007 , were as follows : in millions 2008 2009 2010 2011 2012 thereafter maturities of long-term debt ( a ) $ 267 $ 1300 $ 1069 $ 396 $ 532 $ 3056 debt obligations with right of offset ( b ) 2013 2013 2013 2013 2013 5000 .
|in millions|2008|2009|2010|2011|2012|thereafter|
|maturities of long-term debt ( a )|$ 267|$ 1300|$ 1069|$ 396|$ 532|$ 3056|
|debt obligations with right of offset ( b )|2013|2013|2013|2013|2013|5000|
|lease obligations|136|116|101|84|67|92|
|purchase obligations ( c )|1953|294|261|235|212|1480|
|total ( d )|$ 2356|$ 1710|$ 1431|$ 715|$ 811|$ 9628|
( a ) total debt includes scheduled principal payments only . ( b ) represents debt obligations borrowed from non-consolidated variable interest entities for which international paper has , and intends to affect , a legal right to offset these obligations with investments held in the entities . accordingly , in its con- solidated balance sheet at december 31 , 2007 , international paper has offset approximately $ 5.0 billion of interests in the entities against this $ 5.0 billion of debt obligations held by the entities ( see note 8 in the accompanying consolidated financial statements ) . ( c ) includes $ 2.1 billion relating to fiber supply agreements entered into at the time of the transformation plan forestland sales . ( d ) not included in the above table are unrecognized tax benefits of approximately $ 280 million. .
Question: in 2009 what was the percent of the maturities of long-term debt of the total contractual obligations for future payments | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.54557 | Context:97% ( 97 % ) of its carrying value . the columbia fund is being liquidated with distributions to us occurring and expected to be fully liquidated during calendar 2008 . since december 2007 , we have received disbursements of approximately $ 20.7 million from the columbia fund . our operating activities during the year ended march 31 , 2008 used cash of $ 28.9 million as compared to $ 19.8 million during the same period in the prior year . our fiscal 2008 net loss of $ 40.9 million was the primary cause of our cash use from operations , attributed to increased investments in our global distribution as we continue to drive initiatives to increase recovery awareness as well as our investments in research and development to broaden our circulatory care product portfolio . in addition , our inventories used cash of $ 11.1 million during fiscal 2008 , reflecting our inventory build-up to support anticipated increases in global demand for our products and our accounts receivable also increased as a result of higher sales volume resulting in a use of cash of $ 2.8 million in fiscal 2008 . these decreases in cash were partially offset by an increase in accounts payable and accrued expenses of $ 5.6 million , non-cash adjustments of $ 5.4 million related to stock-based compensation expense , $ 6.1 million of depreciation and amortization and $ 5.0 million for the change in fair value of worldheart note receivable and warrant . our investing activities during the year ended march 31 , 2008 used cash of $ 40.9 million as compared to cash provided by investing activities of $ 15.1 million during the year ended march 31 , 2007 . cash used by investment activities for fiscal 2008 consisted primarily of $ 49.3 million for the recharacterization of the columbia fund to short-term marketable securities , $ 17.1 million for the purchase of short-term marketable securities , $ 3.8 million related to expenditures for property and equipment and $ 5.0 million for note receivable advanced to worldheart . these amounts were offset by $ 34.5 million of proceeds from short-term marketable securities . in june 2008 , we received 510 ( k ) clearance of our impella 2.5 , triggering an obligation to pay $ 5.6 million of contingent payments in accordance with the may 2005 acquisition of impella . these contingent payments may be made , at our option , with cash , or stock or by a combination of cash or stock under circumstances described in the purchase agreement . it is our intent to satisfy this contingent payment through the issuance of shares of our common stock . our financing activities during the year ended march 31 , 2008 provided cash of $ 2.1 million as compared to cash provided by financing activities of $ 66.6 million during the same period in the prior year . cash provided by financing activities for fiscal 2008 is comprised primarily of $ 2.8 million attributable to the exercise of stock options , $ 0.9 million related to the proceeds from the issuance of common stock , $ 0.3 million related to proceeds from the employee stock purchase plan , partially offset by $ 1.9 million related to the repurchase of warrants . the $ 64.5 million decrease compared to the prior year is primarily due to $ 63.6 million raised from the public offering in fiscal 2007 . we disbursed approximately $ 2.2 million of cash for the warrant repurchase and settlement of certain litigation . capital expenditures for fiscal 2009 are estimated to be approximately $ 3.0 to $ 6.0 million . contractual obligations and commercial commitments the following table summarizes our contractual obligations at march 31 , 2008 and the effects such obligations are expected to have on our liquidity and cash flows in future periods . payments due by fiscal year ( in $ 000 2019s ) contractual obligations total than 1 than 5 .
|contractual obligations|payments due by fiscal year ( in $ 000 2019s ) total|payments due by fiscal year ( in $ 000 2019s ) less than 1 year|payments due by fiscal year ( in $ 000 2019s ) 1-3 years|payments due by fiscal year ( in $ 000 2019s ) 3-5 years|payments due by fiscal year ( in $ 000 2019s ) more than 5 years|
|operating lease commitments|$ 7754|$ 2544|$ 3507|$ 1703|$ 2014|
|contractual obligations|9309|7473|1836|2014|2014|
|total obligations|$ 17063|$ 10017|$ 5343|$ 1703|$ 2014|
we have no long-term debt , capital leases or other material commitments , for open purchase orders and clinical trial agreements at march 31 , 2008 other than those shown in the table above . in may 2005 , we acquired all the shares of outstanding capital stock of impella cardiosystems ag , a company headquartered in aachen , germany . the aggregate purchase price excluding a contingent payment in the amount of $ 5.6 million made on january 30 , 2007 in the form of common stock , was approximately $ 45.1 million , which consisted of $ 42.2 million of our common stock , $ 1.6 million of cash paid to certain former shareholders of impella and $ 1.3 million of transaction costs , consisting primarily of fees paid for financial advisory and legal services . we may make additional contingent payments to impella 2019s former shareholders based on additional milestone payments related to fda approvals in the amount of up to $ 11.2 million . in june 2008 we received 510 ( k ) clearance of our impella 2.5 , triggering an obligation to pay $ 5.6 million of contingent payments . these contingent payments may be made , at our option , with cash , or stock or by a combination of cash or stock under circumstances described in the purchase agreement , except that approximately $ 1.8 million of these contingent payments must be made in cash . the payment of any contingent payments will result in an increase to the carrying value of goodwill . we apply the disclosure provisions of fin no . 45 , guarantor 2019s accounting and disclosure requirements for guarantees , including guarantees of indebtedness of others , and interpretation of fasb statements no . 5 , 57 and 107 and rescission of fasb interpretation .
Question: what portion of total obligations is related to contractual obligations as of march 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: |
0.0791 | Context:notes to the consolidated financial statements union pacific corporation and subsidiary companies for purposes of this report , unless the context otherwise requires , all references herein to the 201ccorporation 201d , 201cupc 201d , 201cwe 201d , 201cus 201d , and 201cour 201d mean union pacific corporation and its subsidiaries , including union pacific railroad company , which will be separately referred to herein as 201cuprr 201d or the 201crailroad 201d . 1 . nature of operations operations and segmentation 2013 we are a class i railroad that operates in the u.s . our network includes 31898 route miles , linking pacific coast and gulf coast ports with the midwest and eastern u.s . gateways and providing several corridors to key mexican gateways . we own 26027 miles and operate on the remainder pursuant to trackage rights or leases . we serve the western two-thirds of the country and maintain coordinated schedules with other rail carriers for the handling of freight to and from the atlantic coast , the pacific coast , the southeast , the southwest , canada , and mexico . export and import traffic is moved through gulf coast and pacific coast ports and across the mexican and canadian borders . the railroad , along with its subsidiaries and rail affiliates , is our one reportable operating segment . although revenue is analyzed by commodity group , we analyze the net financial results of the railroad as one segment due to the integrated nature of our rail network . the following table provides freight revenue by commodity group : millions 2011 2010 2009 .
|millions|2011|2010|2009|
|agricultural|$ 3324|$ 3018|$ 2666|
|automotive|1510|1271|854|
|chemicals|2815|2425|2102|
|energy|4084|3489|3118|
|industrial products|3166|2639|2147|
|intermodal|3609|3227|2486|
|total freight revenues|$ 18508|$ 16069|$ 13373|
|other revenues|1049|896|770|
|total operatingrevenues|$ 19557|$ 16965|$ 14143|
although our revenues are principally derived from customers domiciled in the u.s. , the ultimate points of origination or destination for some products transported by us are outside the u.s . basis of presentation 2013 the consolidated financial statements are presented in accordance with accounting principles generally accepted in the u.s . ( gaap ) as codified in the financial accounting standards board ( fasb ) accounting standards codification ( asc ) . certain prior year amounts have been disaggregated to provide more detail and conform to the current period financial statement presentation . 2 . significant accounting policies principles of consolidation 2013 the consolidated financial statements include the accounts of union pacific corporation and all of its subsidiaries . investments in affiliated companies ( 20% ( 20 % ) to 50% ( 50 % ) owned ) are accounted for using the equity method of accounting . all intercompany transactions are eliminated . we currently have no less than majority-owned investments that require consolidation under variable interest entity requirements . cash and cash equivalents 2013 cash equivalents consist of investments with original maturities of three months or less . accounts receivable 2013 accounts receivable includes receivables reduced by an allowance for doubtful accounts . the allowance is based upon historical losses , credit worthiness of customers , and current economic conditions . receivables not expected to be collected in one year and the associated allowances are classified as other assets in our consolidated statements of financial position. .
Question: what percent of total freight revenues was automotive 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: |
-0.16071 | Context:bhge 2018 form 10-k | 85 it is expected that the amount of unrecognized tax benefits will change in the next twelve months due to expiring statutes , audit activity , tax payments , and competent authority proceedings related to transfer pricing or final decisions in matters that are the subject of litigation in various taxing jurisdictions in which we operate . at december 31 , 2018 , we had approximately $ 96 million of tax liabilities , net of $ 1 million of tax assets , related to uncertain tax positions , each of which are individually insignificant , and each of which are reasonably possible of being settled within the next twelve months . we conduct business in more than 120 countries and are subject to income taxes in most taxing jurisdictions in which we operate . all internal revenue service examinations have been completed and closed through year end 2015 for the most significant u.s . returns . we believe there are no other jurisdictions in which the outcome of unresolved issues or claims is likely to be material to our results of operations , financial position or cash flows . we further believe that we have made adequate provision for all income tax uncertainties . note 13 . stock-based compensation in july 2017 , we adopted the bhge 2017 long-term incentive plan ( lti plan ) under which we may grant stock options and other equity-based awards to employees and non-employee directors providing services to the company and our subsidiaries . a total of up to 57.4 million shares of class a common stock are authorized for issuance pursuant to awards granted under the lti plan over its term which expires on the date of the annual meeting of the company in 2027 . a total of 46.2 million shares of class a common stock are available for issuance as of december 31 , 2018 . stock-based compensation cost was $ 121 million and $ 37 million in 2018 and 2017 , respectively . stock-based compensation cost is measured at the date of grant based on the calculated fair value of the award and is generally recognized on a straight-line basis over the vesting period of the equity grant . the compensation cost is determined based on awards ultimately expected to vest ; therefore , we have reduced the cost for estimated forfeitures based on historical forfeiture rates . forfeitures are estimated at the time of grant and revised , if necessary , in subsequent periods to reflect actual forfeitures . there were no stock-based compensation costs capitalized as the amounts were not material . stock options we may grant stock options to our officers , directors and key employees . stock options generally vest in equal amounts over a three-year vesting period provided that the employee has remained continuously employed by the company through such vesting date . the fair value of each stock option granted is estimated using the black- scholes option pricing model . the following table presents the weighted average assumptions used in the option pricing model for options granted under the lti plan . the expected life of the options represents the period of time the options are expected to be outstanding . the expected life is based on a simple average of the vesting term and original contractual term of the awards . the expected volatility is based on the historical volatility of our five main competitors over a six year period . the risk-free interest rate is based on the observed u.s . treasury yield curve in effect at the time the options were granted . the dividend yield is based on a five year history of dividend payouts in baker hughes. .
||2018|2017|
|expected life ( years )|6|6|
|risk-free interest rate|2.5% ( 2.5 % )|2.1% ( 2.1 % )|
|volatility|33.7% ( 33.7 % )|36.4% ( 36.4 % )|
|dividend yield|2% ( 2 % )|1.2% ( 1.2 % )|
|weighted average fair value per share at grant date|$ 10.34|$ 12.32|
baker hughes , a ge company notes to consolidated and combined financial statements .
Question: what is the growth rate in weighted average fair value per share from 2017 to 2018? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.3783 | Context:long-term product offerings include active and index strategies . our active strategies seek to earn attractive returns in excess of a market benchmark or performance hurdle while maintaining an appropriate risk profile . we offer two types of active strategies : those that rely primarily on fundamental research and those that utilize primarily quantitative models to drive portfolio construction . in contrast , index strategies seek to closely track the returns of a corresponding index , generally by investing in substantially the same underlying securities within the index or in a subset of those securities selected to approximate a similar risk and return profile of the index . index strategies include both our non-etf index products and ishares etfs . although many clients use both active and index strategies , the application of these strategies may differ . for example , clients may use index products to gain exposure to a market or asset class , or may use a combination of index strategies to target active returns . in addition , institutional non-etf index assignments tend to be very large ( multi-billion dollars ) and typically reflect low fee rates . this has the potential to exaggerate the significance of net flows in institutional index products on blackrock 2019s revenues and earnings . equity year-end 2016 equity aum totaled $ 2.657 trillion , reflecting net inflows of $ 51.4 billion . net inflows included $ 74.9 billion into ishares , driven by net inflows into the core ranges and broad developed and emerging market equities . ishares net inflows were partially offset by active and non-etf index net outflows of $ 20.2 billion and $ 3.3 billion , respectively . blackrock 2019s effective fee rates fluctuate due to changes in aum mix . approximately half of blackrock 2019s equity aum is tied to international markets , including emerging markets , which tend to have higher fee rates than u.s . equity strategies . accordingly , fluctuations in international equity markets , which may not consistently move in tandem with u.s . markets , have a greater impact on blackrock 2019s effective equity fee rates and revenues . fixed income fixed income aum ended 2016 at $ 1.572 trillion , reflecting net inflows of $ 120.0 billion . in 2016 , active net inflows of $ 16.6 billion were diversified across fixed income offerings , and included strong inflows from insurance clients . fixed income ishares net inflows of $ 59.9 billion were led by flows into the core ranges , emerging market , high yield and corporate bond funds . non-etf index net inflows of $ 43.4 billion were driven by demand for liability-driven investment solutions . multi-asset blackrock 2019s multi-asset team manages a variety of balanced funds and bespoke mandates for a diversified client base that leverages our broad investment expertise in global equities , bonds , currencies and commodities , and our extensive risk management capabilities . investment solutions might include a combination of long-only portfolios and alternative investments as well as tactical asset allocation overlays . component changes in multi-asset aum for 2016 are presented below . ( in millions ) december 31 , net inflows ( outflows ) market change impact december 31 .
|( in millions )|december 312015|net inflows ( outflows )|marketchange|fx impact|december 312016|
|asset allocation and balanced|$ 185836|$ -10332 ( 10332 )|$ 6705|$ -5534 ( 5534 )|$ 176675|
|target date/risk|125664|13500|10189|79|149432|
|fiduciary|64433|998|5585|-2621 ( 2621 )|68395|
|futureadvisor ( 1 )|403|61|41|2014|505|
|total|$ 376336|$ 4227|$ 22520|$ -8076 ( 8076 )|$ 395007|
( 1 ) the futureadvisor amount does not include aum that was held in ishares holdings . multi-asset net inflows reflected ongoing institutional demand for our solutions-based advice with $ 13.2 billion of net inflows coming from institutional clients . defined contribution plans of institutional clients remained a significant driver of flows , and contributed $ 11.3 billion to institutional multi-asset net inflows in 2016 , primarily into target date and target risk product offerings . retail net outflows of $ 9.4 billion were primarily due to outflows from world allocation strategies . the company 2019s multi-asset strategies include the following : 2022 asset allocation and balanced products represented 45% ( 45 % ) of multi-asset aum at year-end . these strategies combine equity , fixed income and alternative components for investors seeking a tailored solution relative to a specific benchmark and within a risk budget . in certain cases , these strategies seek to minimize downside risk through diversification , derivatives strategies and tactical asset allocation decisions . flagship products in this category include our global allocation and multi-asset income fund families . 2022 target date and target risk products grew 11% ( 11 % ) organically in 2016 , with net inflows of $ 13.5 billion . institutional investors represented 94% ( 94 % ) of target date and target risk aum , with defined contribution plans accounting for 88% ( 88 % ) of aum . flows were driven by defined contribution investments in our lifepath and lifepath retirement income ae offerings . lifepath products utilize a proprietary asset allocation model that seeks to balance risk and return over an investment horizon based on the investor 2019s expected retirement timing . 2022 fiduciary management services are complex mandates in which pension plan sponsors or endowments and foundations retain blackrock to assume responsibility for some or all aspects of plan management . these customized services require strong partnership with the clients 2019 investment staff and trustees in order to tailor investment strategies to meet client-specific risk budgets and return objectives. .
Question: what portion of total net multi-asset aum inflows is related to target date/risk as of december 31 , 2016? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.31818 | Context:bhge 2018 form 10-k | 31 business environment the following discussion and analysis summarizes the significant factors affecting our results of operations , financial condition and liquidity position as of and for the year ended december 31 , 2018 , 2017 and 2016 , and should be read in conjunction with the consolidated and combined financial statements and related notes of the company . we operate in more than 120 countries helping customers find , evaluate , drill , produce , transport and process hydrocarbon resources . our revenue is predominately generated from the sale of products and services to major , national , and independent oil and natural gas companies worldwide , and is dependent on spending by our customers for oil and natural gas exploration , field development and production . this spending is driven by a number of factors , including our customers' forecasts of future energy demand and supply , their access to resources to develop and produce oil and natural gas , their ability to fund their capital programs , the impact of new government regulations and most importantly , their expectations for oil and natural gas prices as a key driver of their cash flows . oil and natural gas prices oil and natural gas prices are summarized in the table below as averages of the daily closing prices during each of the periods indicated. .
||2018|2017|2016|
|brent oil prices ( $ /bbl ) ( 1 )|$ 71.34|$ 54.12|$ 43.64|
|wti oil prices ( $ /bbl ) ( 2 )|65.23|50.80|43.29|
|natural gas prices ( $ /mmbtu ) ( 3 )|3.15|2.99|2.52|
brent oil prices ( $ /bbl ) ( 1 ) $ 71.34 $ 54.12 $ 43.64 wti oil prices ( $ /bbl ) ( 2 ) 65.23 50.80 43.29 natural gas prices ( $ /mmbtu ) ( 3 ) 3.15 2.99 2.52 ( 1 ) energy information administration ( eia ) europe brent spot price per barrel ( 2 ) eia cushing , ok wti ( west texas intermediate ) spot price ( 3 ) eia henry hub natural gas spot price per million british thermal unit 2018 demonstrated the volatility of the oil and gas market . through the first three quarters of 2018 , we experienced stability in the north american and international markets . however , in the fourth quarter of 2018 commodity prices dropped nearly 40% ( 40 % ) resulting in increased customer uncertainty . from an offshore standpoint , through most of 2018 , we saw multiple large offshore projects reach positive final investment decisions , and the lng market and outlook improved throughout 2018 , driven by increased demand globally . in 2018 , the first large north american lng positive final investment decision was reached . outside of north america , customer spending is highly driven by brent oil prices , which increased on average throughout the year . average brent oil prices increased to $ 71.34/bbl in 2018 from $ 54.12/bbl in 2017 , and ranged from a low of $ 50.57/bbl in december 2018 , to a high of $ 86.07/bbl in october 2018 . for the first three quarters of 2018 , brent oil prices increased sequentially . however , in the fourth quarter , brent oil prices declined 39% ( 39 % ) versus the end of the third quarter , as a result of increased supply from the u.s. , worries of a global economic slowdown , and lower than expected production cuts . in north america , customer spending is highly driven by wti oil prices , which similar to brent oil prices , on average increased throughout the year . average wti oil prices increased to $ 65.23/bbl in 2018 from $ 50.80/bbl in 2017 , and ranged from a low of $ 44.48/bbl in december 2018 , to a high of $ 77.41/bbl in june 2018 . in north america , natural gas prices , as measured by the henry hub natural gas spot price , averaged $ 3.15/ mmbtu in 2018 , representing a 6% ( 6 % ) increase over the prior year . throughout the year , henry hub natural gas spot prices ranged from a high of $ 6.24/mmbtu in january 2018 to a low of $ 2.49/mmbtu in february 2018 . according to the u.s . department of energy ( doe ) , working natural gas in storage at the end of 2018 was 2705 billion cubic feet ( bcf ) , which was 15.6% ( 15.6 % ) , or 421 bcf , below the corresponding week in 2017. .
Question: what is the growth rate in brent oil prices 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: |
9.0 | Context:( a ) the net change in the total valuation allowance for the years ended december 31 , 2018 and 2017 was an increase of $ 12 million and an increase of $ 26 million , respectively . deferred income tax assets and liabilities are recorded in the accompanying consolidated balance sheet under the captions deferred charges and other assets and deferred income taxes . there was a decrease in deferred income tax assets principally relating to the utilization of u.s . federal alternative minimum tax credits as permitted under tax reform . deferred tax liabilities increased primarily due to the tax deferral of the book gain recognized on the transfer of the north american consumer packaging business to a subsidiary of graphic packaging holding company . of the $ 1.5 billion of deferred tax liabilities for forestlands , related installment sales , and investment in subsidiary , $ 884 million is attributable to an investment in subsidiary and relates to a 2006 international paper installment sale of forestlands and $ 538 million is attributable to a 2007 temple-inland installment sale of forestlands ( see note 14 ) . a reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended december 31 , 2018 , 2017 and 2016 is as follows: .
|in millions|2018|2017|2016|
|balance at january 1|$ -188 ( 188 )|$ -98 ( 98 )|$ -150 ( 150 )|
|( additions ) reductions based on tax positions related to current year|-7 ( 7 )|-54 ( 54 )|-4 ( 4 )|
|( additions ) for tax positions of prior years|-37 ( 37 )|-40 ( 40 )|-3 ( 3 )|
|reductions for tax positions of prior years|5|4|33|
|settlements|2|6|19|
|expiration of statutes oflimitations|2|1|5|
|currency translation adjustment|3|-7 ( 7 )|2|
|balance at december 31|$ -220 ( 220 )|$ -188 ( 188 )|$ -98 ( 98 )|
if the company were to prevail on the unrecognized tax benefits recorded , substantially all of the balances at december 31 , 2018 , 2017 and 2016 would benefit the effective tax rate . the company accrues interest on unrecognized tax benefits as a component of interest expense . penalties , if incurred , are recognized as a component of income tax expense . the company had approximately $ 21 million and $ 17 million accrued for the payment of estimated interest and penalties associated with unrecognized tax benefits at december 31 , 2018 and 2017 , respectively . the major jurisdictions where the company files income tax returns are the united states , brazil , france , poland and russia . generally , tax years 2006 through 2017 remain open and subject to examination by the relevant tax authorities . the company frequently faces challenges regarding the amount of taxes due . these challenges include positions taken by the company related to the timing , nature , and amount of deductions and the allocation of income among various tax jurisdictions . pending audit settlements and the expiration of statute of limitations could reduce the uncertain tax positions by $ 30 million during the next twelve months . the brazilian federal revenue service has challenged the deductibility of goodwill amortization generated in a 2007 acquisition by international paper do brasil ltda. , a wholly-owned subsidiary of the company . the company received assessments for the tax years 2007-2015 totaling approximately $ 150 million in tax , and $ 380 million in interest and penalties as of december 31 , 2018 ( adjusted for variation in currency exchange rates ) . after a previous favorable ruling challenging the basis for these assessments , we received an unfavorable decision in october 2018 from the brazilian administrative council of tax appeals . the company intends to further appeal the matter in the brazilian federal courts in 2019 ; however , this tax litigation matter may take many years to resolve . the company believes that it has appropriately evaluated the transaction underlying these assessments , and has concluded based on brazilian tax law , that its tax position would be sustained . the company intends to vigorously defend its position against the current assessments and any similar assessments that may be issued for tax years subsequent to 2015 . international paper uses the flow-through method to account for investment tax credits earned on eligible open-loop biomass facilities and combined heat and power system expenditures . under this method , the investment tax credits are recognized as a reduction to income tax expense in the year they are earned rather than a reduction in the asset basis . the company recorded a tax benefit of $ 6 million during 2018 and recorded a tax benefit of $ 68 million during 2017 related to investment tax credits earned in tax years 2013-2017. .
Question: considering the years 2016-2018 , what is the average value for settlements , 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: |
0.19512 | Context:bhge 2018 form 10-k | 85 it is expected that the amount of unrecognized tax benefits will change in the next twelve months due to expiring statutes , audit activity , tax payments , and competent authority proceedings related to transfer pricing or final decisions in matters that are the subject of litigation in various taxing jurisdictions in which we operate . at december 31 , 2018 , we had approximately $ 96 million of tax liabilities , net of $ 1 million of tax assets , related to uncertain tax positions , each of which are individually insignificant , and each of which are reasonably possible of being settled within the next twelve months . we conduct business in more than 120 countries and are subject to income taxes in most taxing jurisdictions in which we operate . all internal revenue service examinations have been completed and closed through year end 2015 for the most significant u.s . returns . we believe there are no other jurisdictions in which the outcome of unresolved issues or claims is likely to be material to our results of operations , financial position or cash flows . we further believe that we have made adequate provision for all income tax uncertainties . note 13 . stock-based compensation in july 2017 , we adopted the bhge 2017 long-term incentive plan ( lti plan ) under which we may grant stock options and other equity-based awards to employees and non-employee directors providing services to the company and our subsidiaries . a total of up to 57.4 million shares of class a common stock are authorized for issuance pursuant to awards granted under the lti plan over its term which expires on the date of the annual meeting of the company in 2027 . a total of 46.2 million shares of class a common stock are available for issuance as of december 31 , 2018 . stock-based compensation cost was $ 121 million and $ 37 million in 2018 and 2017 , respectively . stock-based compensation cost is measured at the date of grant based on the calculated fair value of the award and is generally recognized on a straight-line basis over the vesting period of the equity grant . the compensation cost is determined based on awards ultimately expected to vest ; therefore , we have reduced the cost for estimated forfeitures based on historical forfeiture rates . forfeitures are estimated at the time of grant and revised , if necessary , in subsequent periods to reflect actual forfeitures . there were no stock-based compensation costs capitalized as the amounts were not material . stock options we may grant stock options to our officers , directors and key employees . stock options generally vest in equal amounts over a three-year vesting period provided that the employee has remained continuously employed by the company through such vesting date . the fair value of each stock option granted is estimated using the black- scholes option pricing model . the following table presents the weighted average assumptions used in the option pricing model for options granted under the lti plan . the expected life of the options represents the period of time the options are expected to be outstanding . the expected life is based on a simple average of the vesting term and original contractual term of the awards . the expected volatility is based on the historical volatility of our five main competitors over a six year period . the risk-free interest rate is based on the observed u.s . treasury yield curve in effect at the time the options were granted . the dividend yield is based on a five year history of dividend payouts in baker hughes. .
||2018|2017|
|expected life ( years )|6|6|
|risk-free interest rate|2.5% ( 2.5 % )|2.1% ( 2.1 % )|
|volatility|33.7% ( 33.7 % )|36.4% ( 36.4 % )|
|dividend yield|2% ( 2 % )|1.2% ( 1.2 % )|
|weighted average fair value per share at grant date|$ 10.34|$ 12.32|
baker hughes , a ge company notes to consolidated and combined financial statements .
Question: what portion of the authorized shares under the lti plan is issued as of december 31 , 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: |
46.49 | Context:part ii item 5 . market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities our ordinary shares have been publicly traded since november 17 , 2011 when our ordinary shares were listed and began trading on the new york stock exchange ( 201cnyse 201d ) under the symbol 201cdlph . 201d on december 4 , 2017 , following the spin-off of delphi technologies , the company changed its name to aptiv plc and its nyse symbol to 201captv . 201d as of january 25 , 2019 , there were 2 shareholders of record of our ordinary shares . the following graph reflects the comparative changes in the value from december 31 , 2013 through december 31 , 2018 , assuming an initial investment of $ 100 and the reinvestment of dividends , if any in ( 1 ) our ordinary shares , ( 2 ) the s&p 500 index and ( 3 ) the automotive peer group . historical share prices of our ordinary shares have been adjusted to reflect the separation . historical performance may not be indicative of future shareholder returns . stock performance graph * $ 100 invested on december 31 , 2013 in our stock or in the relevant index , including reinvestment of dividends . fiscal year ended december 31 , 2018 . ( 1 ) aptiv plc , adjusted for the distribution of delphi technologies on december 4 , 2017 ( 2 ) s&p 500 2013 standard & poor 2019s 500 total return index ( 3 ) automotive peer group 2013 adient plc , american axle & manufacturing holdings inc , aptiv plc , borgwarner inc , cooper tire & rubber co , cooper- standard holdings inc , dana inc , dorman products inc , ford motor co , garrett motion inc. , general motors co , gentex corp , gentherm inc , genuine parts co , goodyear tire & rubber co , lear corp , lkq corp , meritor inc , motorcar parts of america inc , standard motor products inc , stoneridge inc , superior industries international inc , tenneco inc , tesla inc , tower international inc , visteon corp , wabco holdings inc company index december 31 , december 31 , december 31 , december 31 , december 31 , december 31 .
|company index|december 31 2013|december 31 2014|december 31 2015|december 31 2016|december 31 2017|december 31 2018|
|aptiv plc ( 1 )|$ 100.00|$ 122.75|$ 146.49|$ 117.11|$ 178.46|$ 130.80|
|s&p 500 ( 2 )|100.00|113.69|115.26|129.05|157.22|150.33|
|automotive peer group ( 3 )|100.00|107.96|108.05|107.72|134.04|106.89|
.
Question: what is the highest return for the second year of the investment? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.05 | Context:appropriate statistical bases . total expense for repairs and maintenance incurred was $ 2.5 billion for 2015 , $ 2.4 billion for 2014 , and $ 2.3 billion for 2013 . 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 . 13 . accounts payable and other current liabilities dec . 31 , dec . 31 , millions 2015 2014 .
|millions|dec . 31 2015|dec . 31 2014|
|accounts payable|$ 743|$ 877|
|income and other taxes payable|434|412|
|accrued wages and vacation|391|409|
|interest payable|208|178|
|accrued casualty costs|181|249|
|equipment rents payable|105|100|
|dividends payable [a]|-|438|
|other|550|640|
|total accounts payable and other current liabilities|$ 2612|$ 3303|
[a] beginning in 2015 , the timing of the dividend declaration and payable dates was aligned to occur within the same quarter . the 2015 dividends paid amount includes the fourth quarter 2014 dividend of $ 438 million , which was paid on january 2 , 2015 , the first quarter 2015 dividend of $ 484 million , which was paid on march 30 , 2015 , the second quarter 2015 dividend of $ 479 million , which was paid on june 30 , 2015 , the third quarter 2015 dividend of $ 476 million , which was paid on september 30 , 2015 , as well as the fourth quarter 2015 dividend of $ 467 million , which was paid on december 30 , 2015 . 14 . financial instruments strategy and risk 2013 we may use derivative financial instruments in limited instances for other than trading purposes to assist in managing our overall exposure to fluctuations in interest rates and fuel prices . we are not a party to leveraged derivatives and , by policy , do not use derivative financial instruments for speculative purposes . derivative financial instruments qualifying for hedge accounting must maintain a specified level of effectiveness between the hedging instrument and the item being hedged , both at inception and throughout the hedged period . we formally document the nature and relationships between the hedging instruments and hedged items at inception , as well as our risk- management objectives , strategies for undertaking the various hedge transactions , and method of assessing hedge effectiveness . changes in the fair market value of derivative financial instruments that do not qualify for hedge accounting are charged to earnings . we may use swaps , collars , futures , and/or forward contracts to mitigate the risk of adverse movements in interest rates and fuel prices ; however , the use of these derivative financial instruments may limit future benefits from favorable interest rate and fuel price movements . market and credit risk 2013 we address market risk related to derivative financial instruments by selecting instruments with value fluctuations that highly correlate with the underlying hedged item . we manage credit risk related to derivative financial instruments , which is minimal , by requiring high credit standards for counterparties and periodic settlements . at december 31 , 2015 , and 2014 , we were not required to provide collateral , nor had we received collateral , relating to our hedging activities . interest rate fair value hedges 2013 we manage our overall exposure to fluctuations in interest rates by adjusting the proportion of fixed and floating rate debt instruments within our debt portfolio over a given period . we generally manage the mix of fixed and floating rate debt through the issuance of targeted amounts of each as debt matures or as we require incremental borrowings . we employ derivatives , primarily swaps , as one of the tools to obtain the targeted mix . in addition , we also obtain flexibility in managing interest costs and the interest rate mix within our debt portfolio by evaluating the issuance of and managing outstanding callable fixed-rate debt securities . swaps allow us to convert debt from fixed rates to variable rates and thereby hedge the risk of changes in the debt 2019s fair value attributable to the changes in interest rates . we account for swaps as fair value hedges using the short-cut method ; therefore , we do not record any ineffectiveness within our .
Question: what was the percentage change in equipment rents payable 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: |
62.63 | Context:stock price performance the following graph shows a comparison of the cumulative total return on our common stock , the standard & poor 2019s 500 index and the standard & poor 2019s retail index . the graph assumes that the value of an investment in our common stock and in each such index was $ 100 on january 3 , 2009 , and that any dividends have been reinvested . the comparison in the graph below is based solely on historical data and is not intended to forecast the possible future performance of our common stock . comparison of cumulative total return among advance auto parts , inc. , s&p 500 index and s&p retail index company/index january 3 , january 2 , january 1 , december 31 , december 29 , december 28 .
|company/index|january 3 2009|january 2 2010|january 1 2011|december 31 2011|december 29 2012|december 28 2013|
|advance auto parts|$ 100.00|$ 119.28|$ 195.80|$ 206.86|$ 213.14|$ 327.63|
|s&p 500 index|100.00|119.67|134.97|134.96|150.51|197.62|
|s&p retail index|100.00|141.28|174.70|179.79|219.77|321.02|
.
Question: from 2009 to 2012 , what percentage return did advance auto parts beat the overall market? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
16.0 | Context:2012 ppg annual report and form 10-k 45 costs related to these notes , which totaled $ 17 million , will be amortized to interest expense over the respective terms of the notes . in august 2010 , ppg entered into a three-year credit agreement with several banks and financial institutions ( the "2010 credit agreement" ) which was subsequently terminated in july 2012 . the 2010 credit agreement provided for a $ 1.2 billion unsecured revolving credit facility . in connection with entering into the 2010 credit agreement , the company terminated its 20ac650 million and its $ 1 billion revolving credit facilities that were each set to expire in 2011 . there were no outstanding amounts due under either revolving facility at the times of their termination . the 2010 credit agreement was set to terminate on august 5 , 2013 . ppg 2019s non-u.s . operations have uncommitted lines of credit totaling $ 705 million of which $ 34 million was used as of december 31 , 2012 . these uncommitted lines of credit are subject to cancellation at any time and are generally not subject to any commitment fees . short-term debt outstanding as of december 31 , 2012 and 2011 , was as follows: .
|( millions )|2012|2011|
|other weighted average 2.27% ( 2.27 % ) as of dec . 31 2012 and 3.72% ( 3.72 % ) as of december 31 2011|$ 39|$ 33|
|total|$ 39|$ 33|
ppg is in compliance with the restrictive covenants under its various credit agreements , loan agreements and indentures . the company 2019s revolving credit agreements include a financial ratio covenant . the covenant requires that the amount of total indebtedness not exceed 60% ( 60 % ) of the company 2019s total capitalization excluding the portion of accumulated other comprehensive income ( loss ) related to pensions and other postretirement benefit adjustments . as of december 31 , 2012 , total indebtedness was 42% ( 42 % ) of the company 2019s total capitalization excluding the portion of accumulated other comprehensive income ( loss ) related to pensions and other postretirement benefit adjustments . additionally , substantially all of the company 2019s debt agreements contain customary cross- default provisions . those provisions generally provide that a default on a debt service payment of $ 10 million or more for longer than the grace period provided ( usually 10 days ) under one agreement may result in an event of default under other agreements . none of the company 2019s primary debt obligations are secured or guaranteed by the company 2019s affiliates . interest payments in 2012 , 2011 and 2010 totaled $ 219 million , $ 212 million and $ 189 million , respectively . in october 2009 , the company entered into an agreement with a counterparty to repurchase up to 1.2 million shares of the company 2019s stock of which 1.1 million shares were purchased in the open market ( 465006 of these shares were purchased as of december 31 , 2009 at a weighted average price of $ 56.66 per share ) . the counterparty held the shares until september of 2010 when the company paid $ 65 million and took possession of these shares . rental expense for operating leases was $ 233 million , $ 249 million and $ 233 million in 2012 , 2011 and 2010 , respectively . the primary leased assets include paint stores , transportation equipment , warehouses and other distribution facilities , and office space , including the company 2019s corporate headquarters located in pittsburgh , pa . minimum lease commitments for operating leases that have initial or remaining lease terms in excess of one year as of december 31 , 2012 , are ( in millions ) $ 171 in 2013 , $ 135 in 2014 , $ 107 in 2015 , $ 83 in 2016 , $ 64 in 2017 and $ 135 thereafter . the company had outstanding letters of credit and surety bonds of $ 119 million as of december 31 , 2012 . the letters of credit secure the company 2019s performance to third parties under certain self-insurance programs and other commitments made in the ordinary course of business . as of december 31 , 2012 and 2011 , guarantees outstanding were $ 96 million and $ 90 million , respectively . the guarantees relate primarily to debt of certain entities in which ppg has an ownership interest and selected customers of certain of the company 2019s businesses . a portion of such debt is secured by the assets of the related entities . the carrying values of these guarantees were $ 11 million and $ 13 million as of december 31 , 2012 and 2011 , respectively , and the fair values were $ 11 million and $ 21 million , as of december 31 , 2012 and 2011 , respectively . the fair value of each guarantee was estimated by comparing the net present value of two hypothetical cash flow streams , one based on ppg 2019s incremental borrowing rate and the other based on the borrower 2019s incremental borrowing rate , as of the effective date of the guarantee . both streams were discounted at a risk free rate of return . the company does not believe any loss related to these letters of credit , surety bonds or guarantees is likely . 9 . fair value measurement the accounting guidance on fair value measurements establishes a hierarchy with three levels of inputs used to determine fair value . level 1 inputs are quoted prices ( unadjusted ) in active markets for identical assets and liabilities , are considered to be the most reliable evidence of fair value , and should be used whenever available . level 2 inputs are observable prices that are not quoted on active exchanges . level 3 inputs are unobservable inputs employed for measuring the fair value of assets or liabilities . table of contents notes to the consolidated financial statements .
Question: what was the change in millions of rental expense for operating leases 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: |
34.228 | Context:the total intrinsic value of options exercised ( i.e . the difference between the market price at exercise and the price paid by the employee to exercise the options ) during fiscal 2011 , 2010 and 2009 was $ 96.5 million , $ 29.6 million and $ 4.7 million , respectively . the total amount of proceeds received by the company from exercise of these options during fiscal 2011 , 2010 and 2009 was $ 217.4 million , $ 240.4 million and $ 15.1 million , respectively . proceeds from stock option exercises pursuant to employee stock plans in the company 2019s statement of cash flows of $ 217.2 million , $ 216.1 million and $ 12.4 million for fiscal 2011 , 2010 and 2009 , respectively , are net of the value of shares surrendered by employees in certain limited circumstances to satisfy the exercise price of options , and to satisfy employee tax obligations upon vesting of restricted stock or restricted stock units and in connection with the exercise of stock options granted to the company 2019s employees under the company 2019s equity compensation plans . the withholding amount is based on the company 2019s minimum statutory withholding requirement . a summary of the company 2019s restricted stock unit award activity as of october 29 , 2011 and changes during the year then ended is presented below : restricted outstanding weighted- average grant- date fair value per share .
||restricted stock units outstanding|weighted- average grant- date fair value per share|
|restricted stock units outstanding at october 30 2010|1265|$ 28.21|
|units granted|898|$ 34.93|
|restrictions lapsed|-33 ( 33 )|$ 24.28|
|units forfeited|-42 ( 42 )|$ 31.39|
|restricted stock units outstanding at october 29 2011|2088|$ 31.10|
as of october 29 , 2011 , there was $ 88.6 million of total unrecognized compensation cost related to unvested share-based awards comprised of stock options and restricted stock units . that cost is expected to be recognized over a weighted-average period of 1.3 years . the total grant-date fair value of shares that vested during fiscal 2011 , 2010 and 2009 was approximately $ 49.6 million , $ 67.7 million and $ 74.4 million , respectively . common stock repurchase program the company 2019s common stock repurchase program has been in place since august 2004 . in the aggregate , the board of directors has authorized the company to repurchase $ 5 billion of the company 2019s common stock under the program . under the program , the company may repurchase outstanding shares of its common stock from time to time in the open market and through privately negotiated transactions . unless terminated earlier by resolution of the company 2019s board of directors , the repurchase program will expire when the company has repurchased all shares authorized under the program . as of october 29 , 2011 , the company had repurchased a total of approximately 125.0 million shares of its common stock for approximately $ 4278.5 million under this program . an additional $ 721.5 million remains available for repurchase of shares under the current authorized program . the repurchased shares are held as authorized but unissued shares of common stock . any future common stock repurchases will be dependent upon several factors , including the amount of cash available to the company in the united states and the company 2019s financial performance , outlook and liquidity . the company also from time to time repurchases shares in settlement of employee tax withholding obligations due upon the vesting of restricted stock units , or in certain limited circumstances to satisfy the exercise price of options granted to the company 2019s employees under the company 2019s equity compensation plans . analog devices , inc . notes to consolidated financial statements 2014 ( continued ) .
Question: what was the average share price that the shares were repurchased in 2011? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.25541 | Context:other taxes decreased in 2001 because its utility operations in virginia became subject to state income taxes in lieu of gross receipts taxes effective january 2001 . in addition , dominion recognized higher effective rates for foreign earnings and higher pretax income in relation to non-conventional fuel tax credits realized . dominion energy 2002 2001 2000 ( millions , except per share amounts ) .
|( millions except pershare amounts )|2002|2001|2000|
|operating revenue|$ 5940|$ 6144|$ 4894|
|operating expenses|4520|4749|3939|
|net income contribution|770|723|489|
|earnings per share contribution|$ 2.72|$ 2.86|$ 2.07|
|electricity supplied* ( million mwhrs )|101|95|83|
|gas transmission throughput ( bcf )|597|553|567|
* amounts presented are for electricity supplied by utility and merchant generation operations . operating results 2014 2002 dominion energy contributed $ 2.72 per diluted share on net income of $ 770 million for 2002 , a net income increase of $ 47 million and an earnings per share decrease of $ 0.14 over 2001 . net income for 2002 reflected lower operating revenue ( $ 204 million ) , operating expenses ( $ 229 million ) and other income ( $ 27 million ) . interest expense and income taxes , which are discussed on a consolidated basis , decreased $ 50 million over 2001 . the earnings per share decrease reflected share dilution . regulated electric sales revenue increased $ 179 million . favorable weather conditions , reflecting increased cooling and heating degree-days , as well as customer growth , are estimated to have contributed $ 133 million and $ 41 million , respectively . fuel rate recoveries increased approximately $ 65 million for 2002 . these recoveries are generally offset by increases in elec- tric fuel expense and do not materially affect income . partially offsetting these increases was a net decrease of $ 60 million due to other factors not separately measurable , such as the impact of economic conditions on customer usage , as well as variations in seasonal rate premiums and discounts . nonregulated electric sales revenue increased $ 9 million . sales revenue from dominion 2019s merchant generation fleet decreased $ 21 million , reflecting a $ 201 million decline due to lower prices partially offset by sales from assets acquired and constructed in 2002 and the inclusion of millstone operations for all of 2002 . revenue from the wholesale marketing of utility generation decreased $ 74 million . due to the higher demand of utility service territory customers during 2002 , less production from utility plant generation was available for profitable sale in the wholesale market . revenue from retail energy sales increased $ 71 million , reflecting primarily customer growth over the prior year . net revenue from dominion 2019s electric trading activities increased $ 33 million , reflecting the effect of favorable price changes on unsettled contracts and higher trading margins . nonregulated gas sales revenue decreased $ 351 million . the decrease included a $ 239 million decrease in sales by dominion 2019s field services and retail energy marketing opera- tions , reflecting to a large extent declining prices . revenue associated with gas trading operations , net of related cost of sales , decreased $ 112 million . the decrease included $ 70 mil- lion of realized and unrealized losses on the economic hedges of natural gas production by the dominion exploration & pro- duction segment . as described below under selected information 2014 energy trading activities , sales of natural gas by the dominion exploration & production segment at market prices offset these financial losses , resulting in a range of prices contemplated by dominion 2019s overall risk management strategy . the remaining $ 42 million decrease was due to unfavorable price changes on unsettled contracts and lower overall trading margins . those losses were partially offset by contributions from higher trading volumes in gas and oil markets . gas transportation and storage revenue decreased $ 44 million , primarily reflecting lower rates . electric fuel and energy purchases expense increased $ 94 million which included an increase of $ 66 million associated with dominion 2019s energy marketing operations that are not sub- ject to cost-based rate regulation and an increase of $ 28 million associated with utility operations . substantially all of the increase associated with non-regulated energy marketing opera- tions related to higher volumes purchased during the year . for utility operations , energy costs increased $ 66 million for pur- chases subject to rate recovery , partially offset by a $ 38 million decrease in fuel expenses associated with lower wholesale mar- keting of utility plant generation . purchased gas expense decreased $ 245 million associated with dominion 2019s field services and retail energy marketing oper- ations . this decrease reflected approximately $ 162 million asso- ciated with declining prices and $ 83 million associated with lower purchased volumes . liquids , pipeline capacity and other purchases decreased $ 64 million , primarily reflecting comparably lower levels of rate recoveries of certain costs of transmission operations in the cur- rent year period . the difference between actual expenses and amounts recovered in the period are deferred pending future rate adjustments . other operations and maintenance expense decreased $ 14 million , primarily reflecting an $ 18 million decrease in outage costs due to fewer generation unit outages in the current year . depreciation expense decreased $ 11 million , reflecting decreases in depreciation associated with changes in the esti- mated useful lives of certain electric generation property , par- tially offset by increased depreciation associated with state line and millstone operations . other income decreased $ 27 million , including a $ 14 mil- lion decrease in net realized investment gains in the millstone 37d o m i n i o n 2019 0 2 a n n u a l r e p o r t .
Question: what is the growth rate in operating revenue from 2000 to 2001? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
Subsets and Splits