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0.79246 | Context:fair value of the tangible assets and identifiable intangible assets acquired , was $ 17.7 million . goodwill resulted primarily from the company 2019s expectation of synergies from the integration of sigma-c 2019s technology with the company 2019s technology and operations . virtio corporation , inc . ( virtio ) the company acquired virtio on may 15 , 2006 in an all-cash transaction . reasons for the acquisition . the company believes that its acquisition of virtio will expand its presence in electronic system level design . the company expects the combination of the company 2019s system studio solution with virtio 2019s virtual prototyping technology will help accelerate systems to market by giving software developers the ability to begin code development earlier than with prevailing methods . purchase price . the company paid $ 9.1 million in cash for the outstanding shares of virtio , of which $ 0.9 million was deposited with an escrow agent and which will be paid to the former stockholders of virtio pursuant to the terms of an escrow agreement . in addition , the company had a prior investment in virtio of approximately $ 1.7 million . the total purchase consideration consisted of: .
||( in thousands )|
|cash paid|$ 9076|
|prior investment in virtio|1664|
|acquisition-related costs|713|
|total purchase price|$ 11453|
acquisition-related costs of $ 0.7 million consist primarily of legal , tax and accounting fees , estimated facilities closure costs and employee termination costs . as of october 31 , 2006 , the company had paid $ 0.3 million of the acquisition-related costs . the $ 0.4 million balance remaining at october 31 , 2006 primarily consists of professional and tax-related service fees and facilities closure costs . under the agreement with virtio , the company has also agreed to pay up to $ 4.3 million over three years to the former stockholders based upon achievement of certain sales milestones . this contingent consideration is considered to be additional purchase price and will be an adjustment to goodwill when and if payment is made . additionally , the company has also agreed to pay $ 0.9 million in employee retention bonuses which will be recognized as compensation expense over the service period of the applicable employees . assets acquired . the company has performed a preliminary valuation and allocated the total purchase consideration to the assets and liabilities acquired , including identifiable intangible assets based on their respective fair values on the acquisition date . the company acquired $ 2.5 million of intangible assets consisting of $ 1.9 million in existing technology , $ 0.4 million in customer relationships and $ 0.2 million in non-compete agreements to be amortized over five to seven years . additionally , the company acquired tangible assets of $ 5.5 million and assumed liabilities of $ 3.2 million . goodwill , representing the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in the merger , was $ 6.7 million . goodwill resulted primarily from the company 2019s expectation of synergies from the integration of virtio 2019s technology with the company 2019s technology and operations . hpl technologies , inc . ( hpl ) the company acquired hpl on december 7 , 2005 in an all-cash transaction . reasons for the acquisition . the company believes that the acquisition of hpl will help solidify the company 2019s position as a leading electronic design automation vendor in design for manufacturing ( dfm ) .
Question: what is the percentage of cash paid among the total purchase price? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.68368 | Context:we maintain and operate the assets based on contractual obligations within the lease arrangements , which set specific guidelines consistent within the railroad industry . as such , we have no control over activities that could materially impact the fair value of the leased assets . we do not hold the power to direct the activities of the vies and , therefore , do not control the ongoing activities that have a significant impact on the economic performance of the vies . additionally , we do not have the obligation to absorb losses of the vies or the right to receive benefits of the vies that could potentially be significant to the we are not considered to be the primary beneficiary and do not consolidate these vies because our actions and decisions do not have the most significant effect on the vie 2019s performance and our fixed-price purchase options are not considered to be potentially significant to the vies . the future minimum lease payments associated with the vie leases totaled $ 2.6 billion as of december 31 , 2015 . 17 . leases we lease certain locomotives , freight cars , and other property . the consolidated statements of financial position as of december 31 , 2015 and 2014 included $ 2273 million , net of $ 1189 million of accumulated depreciation , and $ 2454 million , net of $ 1210 million of accumulated depreciation , respectively , for properties held under capital leases . a charge to income resulting from the depreciation for assets held under capital leases is included within depreciation expense in our consolidated statements of income . future minimum lease payments for operating and capital leases with initial or remaining non-cancelable lease terms in excess of one year as of december 31 , 2015 , were as follows : millions operating leases capital leases .
|millions|operatingleases|capitalleases|
|2016|$ 491|$ 217|
|2017|446|220|
|2018|371|198|
|2019|339|184|
|2020|282|193|
|later years|1501|575|
|total minimum lease payments|$ 3430|$ 1587|
|amount representing interest|n/a|-319 ( 319 )|
|present value of minimum lease payments|n/a|$ 1268|
approximately 95% ( 95 % ) of capital lease payments relate to locomotives . rent expense for operating leases with terms exceeding one month was $ 590 million in 2015 , $ 593 million in 2014 , and $ 618 million in 2013 . when cash rental payments are not made on a straight-line basis , we recognize variable rental expense on a straight-line basis over the lease term . contingent rentals and sub-rentals are not significant . 18 . commitments and contingencies asserted and unasserted claims 2013 various claims and lawsuits are pending against us and certain of our subsidiaries . we cannot fully determine the effect of all asserted and unasserted claims on our consolidated results of operations , financial condition , or liquidity . to the extent possible , we have recorded a liability where asserted and unasserted claims are considered probable and where such claims can be reasonably estimated . we do not expect that any known lawsuits , claims , environmental costs , commitments , contingent liabilities , or guarantees will have a material adverse effect on our consolidated results of operations , financial condition , or liquidity after taking into account liabilities and insurance recoveries previously recorded for these matters . personal injury 2013 the cost of personal injuries to employees and others related to our activities is charged to expense based on estimates of the ultimate cost and number of incidents each year . we use an actuarial analysis to measure the expense and liability , including unasserted claims . the federal employers 2019 liability act ( fela ) governs compensation for work-related accidents . under fela , damages are assessed based on a finding of fault through litigation or out-of-court settlements . we offer a comprehensive variety of services and rehabilitation programs for employees who are injured at work . our personal injury liability is not discounted to present value due to the uncertainty surrounding the timing of future payments . approximately 94% ( 94 % ) of the recorded liability is related to asserted claims and .
Question: what percentage of total minimum lease payments are operating leases leases? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-0.01863 | Context:92 | 2017 form 10-k finite-lived intangible assets are amortized over their estimated useful lives and tested for impairment if events or changes in circumstances indicate that the asset may be impaired . in 2016 , gross customer relationship intangibles of $ 96 million and related accumulated amortization of $ 27 million as well as gross intellectual property intangibles of $ 111 million and related accumulated amortization of $ 48 million from the resource industries segment were impaired . the fair value of these intangibles was determined to be insignificant based on an income approach using expected cash flows . the fair value determination is categorized as level 3 in the fair value hierarchy due to its use of internal projections and unobservable measurement inputs . the total impairment of $ 132 million was a result of restructuring activities and is included in other operating ( income ) expense in statement 1 . see note 25 for information on restructuring costs . amortization expense related to intangible assets was $ 323 million , $ 326 million and $ 337 million for 2017 , 2016 and 2015 , respectively . as of december 31 , 2017 , amortization expense related to intangible assets is expected to be : ( millions of dollars ) .
|2018|2019|2020|2021|2022|thereafter|
|$ 322|$ 316|$ 305|$ 287|$ 268|$ 613|
b . goodwill there were no goodwill impairments during 2017 or 2015 . our annual impairment tests completed in the fourth quarter of 2016 indicated the fair value of each reporting unit was substantially above its respective carrying value , including goodwill , with the exception of our surface mining & technology reporting unit . the surface mining & technology reporting unit , which primarily serves the mining industry , is a part of our resource industries segment . the goodwill assigned to this reporting unit is largely from our acquisition of bucyrus international , inc . in 2011 . its product portfolio includes large mining trucks , electric rope shovels , draglines , hydraulic shovels and related parts . in addition to equipment , surface mining & technology also develops and sells technology products and services to provide customer fleet management , equipment management analytics and autonomous machine capabilities . the annual impairment test completed in the fourth quarter of 2016 indicated that the fair value of surface mining & technology was below its carrying value requiring the second step of the goodwill impairment test process . the fair value of surface mining & technology was determined primarily using an income approach based on a discounted ten year cash flow . we assigned the fair value to surface mining & technology 2019s assets and liabilities using various valuation techniques that required assumptions about royalty rates , dealer attrition , technological obsolescence and discount rates . the resulting implied fair value of goodwill was below the carrying value . accordingly , we recognized a goodwill impairment charge of $ 595 million , which resulted in goodwill of $ 629 million remaining for surface mining & technology as of october 1 , 2016 . the fair value determination is categorized as level 3 in the fair value hierarchy due to its use of internal projections and unobservable measurement inputs . there was a $ 17 million tax benefit associated with this impairment charge. .
Question: what is the expected growth rate in amortization expense in 2019? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
1768.0 | Context:liquidity and capital resources as of december 31 , 2011 , our principal sources of liquidity included cash , cash equivalents , our receivables securitization facility , and our revolving credit facility , as well as the availability of commercial paper and other sources of financing through the capital markets . we had $ 1.8 billion of committed credit available under our credit facility , with no borrowings outstanding as of december 31 , 2011 . we did not make any borrowings under this facility during 2011 . the value of the outstanding undivided interest held by investors under the receivables securitization facility was $ 100 million as of december 31 , 2011 , and is included in our consolidated statements of financial position as debt due after one year . the receivables securitization facility obligates us to maintain an investment grade bond rating . if our bond rating were to deteriorate , it could have an adverse impact on our liquidity . access to commercial paper as well as other capital market financings is dependent on market conditions . deterioration of our operating results or financial condition due to internal or external factors could negatively impact our ability to access capital markets as a source of liquidity . access to liquidity through the capital markets is also dependent on our financial stability . we expect that we will continue to have access to liquidity by issuing bonds to public or private investors based on our assessment of the current condition of the credit markets . at december 31 , 2011 and 2010 , we had a working capital surplus . this reflects a strong cash position , which provides enhanced liquidity in an uncertain economic environment . in addition , we believe we have adequate access to capital markets to meet cash requirements , and we have sufficient financial capacity to satisfy our current liabilities . cash flows millions 2011 2010 2009 .
|cash flowsmillions|2011|2010|2009|
|cash provided by operating activities|$ 5873|$ 4105|$ 3204|
|cash used in investing activities|-3119 ( 3119 )|-2488 ( 2488 )|-2145 ( 2145 )|
|cash used in financing activities|-2623 ( 2623 )|-2381 ( 2381 )|-458 ( 458 )|
|net change in cash and cashequivalents|$ 131|$ -764 ( 764 )|$ 601|
operating activities higher net income and lower cash income tax payments in 2011 increased cash provided by operating activities compared to 2010 . the tax relief , unemployment insurance reauthorization , and job creation act of 2010 , enacted in december 2010 , provided for 100% ( 100 % ) bonus depreciation for qualified investments made during 2011 , and 50% ( 50 % ) bonus depreciation for qualified investments made during 2012 . as a result of the act , the company deferred a substantial portion of its 2011 income tax expense . this deferral decreased 2011 income tax payments , thereby contributing to the positive operating cash flow . in future years , however , additional cash will be used to pay income taxes that were previously deferred . in addition , the adoption of a new accounting standard in january of 2010 changed the accounting treatment for our receivables securitization facility from a sale of undivided interests ( recorded as an operating activity ) to a secured borrowing ( recorded as a financing activity ) , which decreased cash provided by operating activities by $ 400 million in 2010 . higher net income in 2010 increased cash provided by operating activities compared to 2009 . investing activities higher capital investments partially offset by higher proceeds from asset sales in 2011 drove the increase in cash used in investing activities compared to 2010 . higher capital investments and lower proceeds from asset sales in 2010 drove the increase in cash used in investing activities compared to 2009. .
Question: what was the change in cash provided by operating activities from 2010 to 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: |
0.30828 | Context:five-year performance comparison 2013 the following graph provides an indicator of cumulative total shareholder returns for the corporation as compared to the peer group index ( described above ) , the dj trans , and the s&p 500 . the graph assumes that $ 100 was invested in the common stock of union pacific corporation and each index on december 31 , 2007 and that all dividends were reinvested . purchases of equity securities 2013 during 2012 , we repurchased 13804709 shares of our common stock at an average price of $ 115.33 . the following table presents common stock repurchases during each month for the fourth quarter of 2012 : period total number of shares purchased [a] average price paid per share total number of shares purchased as part of a publicly announced plan or program [b] maximum number of shares that may yet be purchased under the plan or program [b] .
|period|total number ofsharespurchased [a]|averageprice paidper share|total number of sharespurchased as part of apublicly announced planor program [b]|maximum number ofshares that may yetbe purchased under the planor program [b]|
|oct . 1 through oct . 31|1068414|121.70|1028300|16041399|
|nov . 1 through nov . 30|659631|120.84|655000|15386399|
|dec . 1 through dec . 31|411683|124.58|350450|15035949|
|total|2139728|$ 121.99|2033750|n/a|
[a] total number of shares purchased during the quarter includes approximately 105978 shares delivered or attested to upc by employees to pay stock option exercise prices , satisfy excess tax withholding obligations for stock option exercises or vesting of retention units , and pay withholding obligations for vesting of retention shares . [b] on april 1 , 2011 , our board of directors authorized the repurchase of up to 40 million shares of our common stock by march 31 , 2014 . these repurchases may be made on the open market or through other transactions . our management has sole discretion with respect to determining the timing and amount of these transactions. .
Question: what percentage of the total number of shares purchased were purchased in november? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
464.0 | Context:abiomed , inc . and subsidiaries notes to consolidated financial statements 2014 ( continued ) note 8 . stock award plans and stock-based compensation ( continued ) restricted stock and restricted stock units the following table summarizes restricted stock and restricted stock unit activity for the fiscal year ended march 31 , 2012 : number of shares ( in thousands ) weighted average grant date fair value ( per share ) .
||number of shares ( in thousands )|weighted average grant date fair value ( per share )|
|restricted stock and restricted stock units at beginning of year|407|$ 9.84|
|granted|607|18.13|
|vested|-134 ( 134 )|10.88|
|forfeited|-9 ( 9 )|13.72|
|restricted stock and restricted stock units at end of year|871|$ 15.76|
the remaining unrecognized compensation expense for outstanding restricted stock and restricted stock units , including performance-based awards , as of march 31 , 2012 was $ 7.1 million and the weighted-average period over which this cost will be recognized is 2.2 years . the weighted average grant-date fair value for restricted stock and restricted stock units granted during the years ended march 31 , 2012 , 2011 , and 2010 was $ 18.13 , $ 10.00 and $ 7.67 per share , respectively . the total fair value of restricted stock and restricted stock units vested in fiscal years 2012 , 2011 , and 2010 was $ 1.5 million , $ 1.0 million and $ 0.4 million , respectively . performance-based awards included in the restricted stock and restricted stock units activity discussed above are certain awards granted in fiscal years 2012 , 2011 and 2010 that vest subject to certain performance-based criteria . in june 2010 , 311000 shares of restricted stock and a performance-based award for the potential issuance of 45000 shares of common stock were issued to certain executive officers and members of senior management of the company , all of which would vest upon achievement of prescribed service milestones by the award recipients and performance milestones by the company . during the year ended march 31 , 2011 , the company determined that it met the prescribed performance targets and a portion of these shares and stock options vested . the remaining shares will vest upon satisfaction of prescribed service conditions by the award recipients . during the three months ended june 30 , 2011 , the company determined that it should have been using the graded vesting method instead of the straight-line method to expense stock-based compensation for the performance-based awards issued in june 2010 . this resulted in additional stock based compensation expense of approximately $ 0.6 million being recorded during the three months ended june 30 , 2011 that should have been recorded during the year ended march 31 , 2011 . the company believes that the amount is not material to its march 31 , 2011 consolidated financial statements and therefore recorded the adjustment in the quarter ended june 30 , 2011 . during the three months ended june 30 , 2011 , performance-based awards of restricted stock units for the potential issuance of 284000 shares of common stock were issued to certain executive officers and members of the senior management , all of which would vest upon achievement of prescribed service milestones by the award recipients and revenue performance milestones by the company . as of march 31 , 2012 , the company determined that it met the prescribed targets for 184000 shares underlying these awards and it believes it is probable that the prescribed performance targets will be met for the remaining 100000 shares , and the compensation expense is being recognized accordingly . during the year ended march 31 , 2012 , the company has recorded $ 3.3 million in stock-based compensation expense for equity awards in which the prescribed performance milestones have been achieved or are probable of being achieved . the remaining unrecognized compensation expense related to these equity awards at march 31 , 2012 is $ 3.6 million based on the company 2019s current assessment of probability of achieving the performance milestones . the weighted-average period over which this cost will be recognized is 2.1 years. .
Question: what is the net change in the number of shares for restricted stock and restricted stock units during fiscal year ended march 31 , 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: |
16.3 | 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 amortization expense related to bgi transaction of 2009 under a straight-line amortization method , 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: |
0.11765 | Context:82 | 2017 form 10-k a reconciliation of the beginning and ending amount of gross unrecognized tax benefits for uncertain tax positions , including positions impacting only the timing of tax benefits , follows . reconciliation of unrecognized tax benefits:1 years a0ended a0december a031 .
|( millions of dollars )|years ended december 31 , 2017|years ended december 31 , 2016|
|balance at january 1,|$ 1032|$ 968|
|additions for tax positions related to current year|270|73|
|additions for tax positions related to prior years|20|55|
|reductions for tax positions related to prior years|-27 ( 27 )|-36 ( 36 )|
|reductions for settlements2|-9 ( 9 )|-24 ( 24 )|
|reductions for expiration of statute of limitations|2014|-4 ( 4 )|
|balance at december 31,|$ 1286|$ 1032|
|amount that if recognized would impact the effective tax rate|$ 1209|$ 963|
1 foreign currency impacts are included within each line as applicable . 2 includes cash payment or other reduction of assets to settle liability . we classify interest and penalties on income taxes as a component of the provision for income taxes . we recognized a net provision for interest and penalties of $ 38 million , $ 34 million and $ 20 million during the years ended december 31 , 2017 , 2016 and 2015 , respectively . the total amount of interest and penalties accrued was $ 157 million and $ 120 million as of december a031 , 2017 and 2016 , respectively . on january 31 , 2018 , we received a revenue agent 2019s report from the irs indicating the end of the field examination of our u.s . income tax returns for 2010 to 2012 . in the audits of 2007 to 2012 including the impact of a loss carryback to 2005 , the irs has proposed to tax in the united states profits earned from certain parts transactions by csarl , based on the irs examination team 2019s application of the 201csubstance-over-form 201d or 201cassignment-of-income 201d judicial doctrines . we are vigorously contesting the proposed increases to tax and penalties for these years of approximately $ 2.3 billion . we believe that the relevant transactions complied with applicable tax laws and did not violate judicial doctrines . we have filed u.s . income tax returns on this same basis for years after 2012 . based on the information currently available , we do not anticipate a significant increase or decrease to our unrecognized tax benefits for this matter within the next 12 months . we currently believe the ultimate disposition of this matter will not have a material adverse effect on our consolidated financial position , liquidity or results of operations . with the exception of a loss carryback to 2005 , tax years prior to 2007 are generally no longer subject to u.s . tax assessment . in our major non-u.s . jurisdictions including australia , brazil , china , germany , japan , mexico , switzerland , singapore and the u.k. , tax years are typically subject to examination for three to ten years . due to the uncertainty related to the timing and potential outcome of audits , we cannot estimate the range of reasonably possible change in unrecognized tax benefits in the next 12 months. .
Question: what is the percentage change net provision for interest and penalties 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: |
0.13782 | Context:when the likelihood of clawback is considered mathematically improbable . the company records a deferred carried interest liability to the extent it receives cash or capital allocations related to carried interest prior to meeting the revenue recognition criteria . at december 31 , 2017 and 2016 , the company had $ 219 million and $ 152 million , respectively , of deferred carried interest recorded in other liabilities/other liabilities of consolidated vies on the consolidated statements of financial condition . a portion of the deferred carried interest liability will be paid to certain employees . the ultimate timing of the recognition of performance fee revenue , if any , for these products is unknown . the following table presents changes in the deferred carried interest liability ( including the portion related to consolidated vies ) for 2017 and 2016: .
|( in millions )|2017|2016|
|beginning balance|$ 152|$ 143|
|net increase ( decrease ) in unrealized allocations|75|37|
|performance fee revenue recognized|-21 ( 21 )|-28 ( 28 )|
|acquisition|13|2014|
|ending balance|$ 219|$ 152|
for 2017 , 2016 and 2015 , performance fee revenue ( which included recognized carried interest ) totaled $ 594 million , $ 295 million and $ 621 million , respectively . fees earned for technology and risk management revenue are recorded as services are performed and are generally determined using the value of positions on the aladdin platform or on a fixed-rate basis . for 2017 , 2016 and 2016 , technology and risk management revenue totaled $ 677 million , $ 595 million and $ 528 million , respectively . adjustments to revenue arising from initial estimates recorded historically have been immaterial since the majority of blackrock 2019s investment advisory and administration revenue is calculated based on aum and since the company does not record performance fee revenue until performance thresholds have been exceeded and the likelihood of clawback is mathematically improbable . accounting developments recent accounting pronouncements not yet adopted . revenue from contracts with customers . in may 2014 , the financial accounting standards board ( 201cfasb 201d ) issued accounting standards update ( 201casu 201d ) 2014-09 , revenue from contracts with customers ( 201casu 2014-09 201d ) . asu 2014-09 outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance , including industry-specific guidance . the guidance also changes the accounting for certain contract costs and revises the criteria for determining if an entity is acting as a principal or agent in certain arrangements . the key changes in the standard that impact the company 2019s revenue recognition relate to the presentation of certain revenue contracts and associated contract costs . the most significant of these changes relates to the presentation of certain distribution costs , which are currently presented net against revenues ( contra-revenue ) and will be presented as an expense on a gross basis . the company adopted asu 2014-09 effective january 1 , 2018 on a full retrospective basis , which will require 2016 and 2017 to be restated in future filings . the cumulative effect adjustment to the 2016 opening retained earnings was not material . the company currently expects the net gross up to revenue to be approximately $ 1 billion with a corresponding gross up to expense for both 2016 and 2017 . consequently , the company expects its gaap operating margin to decline upon adoption due to the gross up of revenue . however , no material impact is expected on the company 2019s as adjusted operating margin . for accounting pronouncements that the company adopted during the year ended december 31 , 2017 and for additional recent accounting pronouncements not yet adopted , see note 2 , significant accounting policies , in the consolidated financial statements contained in part ii , item 8 of this filing . item 7a . quantitative and qualitative disclosures about market risk aum market price risk . blackrock 2019s investment advisory and administration fees are primarily comprised of fees based on a percentage of the value of aum and , in some cases , performance fees expressed as a percentage of the returns realized on aum . at december 31 , 2017 , the majority of the company 2019s investment advisory and administration fees were based on average or period end aum of the applicable investment funds or separate accounts . movements in equity market prices , interest rates/credit spreads , foreign exchange rates or all three could cause the value of aum to decline , which would result in lower investment advisory and administration fees . corporate investments portfolio risks . as a leading investment management firm , blackrock devotes significant resources across all of its operations to identifying , measuring , monitoring , managing and analyzing market and operating risks , including the management and oversight of its own investment portfolio . the board of directors of the company has adopted guidelines for the review of investments to be made by the company , requiring , among other things , that investments be reviewed by certain senior officers of the company , and that certain investments may be referred to the audit committee or the board of directors , depending on the circumstances , for approval . in the normal course of its business , blackrock is exposed to equity market price risk , interest rate/credit spread risk and foreign exchange rate risk associated with its corporate investments . blackrock has investments primarily in sponsored investment products that invest in a variety of asset classes , including real assets , private equity and hedge funds . investments generally are made for co-investment purposes , to establish a performance track record , to hedge exposure to certain deferred compensation plans or for regulatory purposes . currently , the company has a seed capital hedging program in which it enters into swaps to hedge market and interest rate exposure to certain investments . at december 31 , 2017 , the company had outstanding total return swaps with an aggregate notional value of approximately $ 587 million . at december 31 , 2017 , there were no outstanding interest rate swaps. .
Question: what is the growth rate in revenue related technology and risk management 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: |
113.0 | Context:addition , fuel costs were lower as gross-ton miles decreased 9% ( 9 % ) . the fuel consumption rate ( c-rate ) , computed as gallons of fuel consumed divided by gross ton-miles in thousands , increased 1% ( 1 % ) compared to 2014 . decreases in heavier , more fuel-efficient shipments , decreased gross-ton miles and increased the c-rate . volume growth of 7% ( 7 % ) , as measured by gross ton-miles , drove the increase in fuel expense in 2014 compared to 2013 . this was essentially offset by lower locomotive diesel fuel prices , which averaged $ 2.97 per gallon ( including taxes and transportation costs ) in 2014 , compared to $ 3.15 in 2013 , along with a slight improvement in c-rate , computed as gallons of fuel consumed divided by gross ton-miles . depreciation 2013 the majority of depreciation relates to road property , including rail , ties , ballast , and other track material . a higher depreciable asset base , reflecting higher capital spending in recent years , increased depreciation expense in 2015 compared to 2014 . this increase was partially offset by our recent depreciation studies that resulted in lower depreciation rates for some asset classes . depreciation was up 7% ( 7 % ) in 2014 compared to 2013 . a higher depreciable asset base , reflecting higher ongoing capital spending drove the increase . equipment and other rents 2013 equipment and other rents expense primarily includes rental expense that the railroad pays for freight cars owned by other railroads or private companies ; freight car , intermodal , and locomotive leases ; and office and other rent expenses . equipment and other rents expense decreased $ 4 million compared to 2014 primarily from a decrease in manifest and intermodal shipments , partially offset by growth in finished vehicle shipments . higher intermodal volumes and longer cycle times increased short-term freight car rental expense in 2014 compared to 2013 . lower equipment leases essentially offset the higher freight car rental expense , as we exercised purchase options on some of our leased equipment . other 2013 other expenses include state and local taxes , freight , equipment and property damage , utilities , insurance , personal injury , environmental , employee travel , telephone and cellular , computer software , bad debt , and other general expenses . other expenses were flat in 2015 compared to 2014 as higher property taxes were offset by lower costs in other areas . higher property taxes , personal injury expense and utilities costs partially offset by lower environmental expense and costs associated with damaged freight resulted in an increase in other costs in 2014 compared to 2013 . non-operating items % ( % ) change % ( % ) change millions 2015 2014 2013 2015 v 2014 2014 v 2013 .
|millions|2015|2014|2013|% ( % ) change 2015 v 2014|% ( % ) change 2014 v 2013|
|other income|$ 226|$ 151|$ 128|50% ( 50 % )|18% ( 18 % )|
|interest expense|-622 ( 622 )|-561 ( 561 )|-526 ( 526 )|11|7|
|income taxes|-2884 ( 2884 )|-3163 ( 3163 )|-2660 ( 2660 )|( 9 ) % ( % )|19% ( 19 % )|
other income 2013 other income increased in 2015 compared to 2014 primarily due to a $ 113 million gain from a real estate sale in the second quarter of 2015 , partially offset by a gain from the sale of a permanent easement in 2014 . other income increased in 2014 versus 2013 due to higher gains from real estate sales and a sale of a permanent easement . these gains were partially offset by higher environmental costs on non-operating property in 2014 and lower lease income due to the $ 17 million settlement of a land lease contract in interest expense 2013 interest expense increased in 2015 compared to 2014 due to an increased weighted- average debt level of $ 13.0 billion in 2015 from $ 10.7 billion in 2014 , partially offset by the impact of a lower effective interest rate of 4.8% ( 4.8 % ) in 2015 compared to 5.3% ( 5.3 % ) in 2014 . interest expense increased in 2014 versus 2013 due to an increased weighted-average debt level of $ 10.7 billion in 2014 from $ 9.6 billion in 2013 , which more than offset the impact of the lower effective interest rate of 5.3% ( 5.3 % ) in 2014 versus 5.7% ( 5.7 % ) in 2013. .
Question: without the gain of $ 113 million from a real estate sale in the second quarter of 2015 what would other income have been in millions? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.16517 | Context:average cost of debt from 7.1% ( 7.1 % ) to an effective rate of 6.9% ( 6.9 % ) . the inclusion of the offsetting interest income from short-term investments reduced this effective rate to 6.26% ( 6.26 % ) . other financing activities during 2011 included the issuance of approximately 0.3 million shares of treasury stock for various incentive plans and the acquisition of 1.0 million shares of treasury stock primarily related to restricted stock withholding taxes . payments of restricted stock withholding taxes totaled $ 30 million . off-balance sheet variable interest entities information concerning off-balance sheet variable interest entities is set forth in note 12 variable interest entities and preferred securities of subsidiaries on pages 72 through 75 of item 8 . financial statements and supplementary data for discussion . liquidity and capital resources outlook for 2014 capital expenditures and long-term debt international paper expects to be able to meet projected capital expenditures , service existing debt and meet working capital and dividend requirements during 2014 through current cash balances and cash from operations . additionally , the company has existing credit facilities totaling $ 2.0 billion . the company was in compliance with all its debt covenants at december 31 , 2013 . the company 2019s financial covenants require the maintenance of a minimum net worth of $ 9 billion and a total debt-to- capital ratio of less than 60% ( 60 % ) . net worth is defined as the sum of common stock , paid-in capital and retained earnings , less treasury stock plus any cumulative goodwill impairment charges . the calculation also excludes accumulated other comprehensive income/ loss and nonrecourse financial liabilities of special purpose entities . the total debt-to-capital ratio is defined as total debt divided by the sum of total debt plus net worth . at december 31 , 2013 , international paper 2019s net worth was $ 15.1 billion , and the total-debt- to-capital ratio was 39% ( 39 % ) . the company will continue to rely upon debt and capital markets for the majority of any necessary long-term funding not provided by operating cash flows . funding decisions will be guided by our capital structure planning objectives . the primary goals of the company 2019s capital structure planning are to maximize financial flexibility and preserve liquidity while reducing interest expense . the majority of international paper 2019s debt is accessed through global public capital markets where we have a wide base of investors . maintaining an investment grade credit rating is an important element of international paper 2019s financing strategy . at december 31 , 2013 , the company held long-term credit ratings of bbb ( stable outlook ) and baa3 ( stable outlook ) by s&p and moody 2019s , respectively . contractual obligations for future payments under existing debt and lease commitments and purchase obligations at december 31 , 2013 , were as follows: .
|in millions|2014|2015|2016|2017|2018|thereafter|
|maturities of long-term debt ( a )|$ 661|$ 498|$ 571|$ 285|$ 1837|$ 5636|
|debt obligations with right of offset ( b )|2014|2014|5185|2014|2014|2014|
|lease obligations|171|133|97|74|59|162|
|purchase obligations ( c )|3170|770|642|529|453|2404|
|total ( d )|$ 4002|$ 1401|$ 6495|$ 888|$ 2349|$ 8202|
( a ) total debt includes scheduled principal payments only . ( b ) represents debt obligations borrowed from non-consolidated variable interest entities for which international paper has , and intends to effect , a legal right to offset these obligations with investments held in the entities . accordingly , in its consolidated balance sheet at december 31 , 2013 , international paper has offset approximately $ 5.2 billion of interests in the entities against this $ 5.2 billion of debt obligations held by the entities ( see note 12 variable interest entities and preferred securities of subsidiaries on pages 72 through 75 in item 8 . financial statements and supplementary data ) . ( c ) includes $ 3.3 billion relating to fiber supply agreements entered into at the time of the 2006 transformation plan forestland sales and in conjunction with the 2008 acquisition of weyerhaeuser company 2019s containerboard , packaging and recycling business . ( d ) not included in the above table due to the uncertainty as to the amount and timing of the payment are unrecognized tax benefits of approximately $ 146 million . we consider the undistributed earnings of our foreign subsidiaries as of december 31 , 2013 , to be indefinitely reinvested and , accordingly , no u.s . income taxes have been provided thereon . as of december 31 , 2013 , the amount of cash associated with indefinitely reinvested foreign earnings was approximately $ 900 million . we do not anticipate the need to repatriate funds to the united states to satisfy domestic liquidity needs arising in the ordinary course of business , including liquidity needs associated with our domestic debt service requirements . pension obligations and funding at december 31 , 2013 , the projected benefit obligation for the company 2019s u.s . defined benefit plans determined under u.s . gaap was approximately $ 2.2 billion higher than the fair value of plan assets . approximately $ 1.8 billion of this amount relates to plans that are subject to minimum funding requirements . under current irs funding rules , the calculation of minimum funding requirements differs from the calculation of the present value of plan benefits ( the projected benefit obligation ) for accounting purposes . in december 2008 , the worker , retiree and employer recovery act of 2008 ( wera ) was passed by the u.s . congress which provided for pension funding relief and technical corrections . funding .
Question: in 2013 what was the percentage of the contractual obligations for future payments for long term debt due in 2014 | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.78518 | Context:table of contents hologic , inc . notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) location during fiscal 2009 . the company was responsible for a significant portion of the construction costs and therefore was deemed , for accounting purposes , to be the owner of the building during the construction period , in accordance with asc 840 , leases , subsection 40-15-5 . during the year ended september 27 , 2008 , the company recorded an additional $ 4400 in fair market value of the building , which was completed in fiscal 2008 . this is in addition to the $ 3000 fair market value of the land and the $ 7700 fair market value related to the building constructed that cytyc had recorded as of october 22 , 2007 . the company has recorded such fair market value within property and equipment on its consolidated balance sheets . at september 26 , 2009 , the company has recorded $ 1508 in accrued expenses and $ 16329 in other long-term liabilities related to this obligation in the consolidated balance sheet . the term of the lease is for a period of approximately ten years with the option to extend for two consecutive five-year terms . the lease term commenced in may 2008 , at which time the company began transferring the company 2019s costa rican operations to this facility . it is expected that this process will be complete by february 2009 . at the completion of the construction period , the company reviewed the lease for potential sale-leaseback treatment in accordance with asc 840 , subsection 40 , sale-leaseback transactions ( formerly sfas no . 98 ( 201csfas 98 201d ) , accounting for leases : sale-leaseback transactions involving real estate , sales-type leases of real estate , definition of the lease term , and initial direct costs of direct financing leases 2014an amendment of financial accounting standards board ( 201cfasb 201d ) statements no . 13 , 66 , and 91 and a rescission of fasb statement no . 26 and technical bulletin no . 79-11 ) . based on its analysis , the company determined that the lease did not qualify for sale-leaseback treatment . therefore , the building , leasehold improvements and associated liabilities will remain on the company 2019s financial statements throughout the lease term , and the building and leasehold improvements will be depreciated on a straight line basis over their estimated useful lives of 35 years . future minimum lease payments , including principal and interest , under this lease were as follows at september 26 , 2009: .
||amount|
|fiscal 2010|$ 1508|
|fiscal 2011|1561|
|fiscal 2012|1616|
|fiscal 2013|1672|
|fiscal 2014|1731|
|thereafter|7288|
|total minimum payments|15376|
|less-amount representing interest|-6094 ( 6094 )|
|total|$ 9282|
in addition , as a result of the merger with cytyc , the company assumed the obligation to a non-cancelable lease agreement for a building with approximately 146000 square feet located in marlborough , massachusetts , to be principally used as an additional manufacturing facility . in 2011 , the company will have an option to lease an additional 30000 square feet . as part of the lease agreement , the lessor agreed to allow the company to make significant renovations to the facility to prepare the facility for the company 2019s manufacturing needs . the company was responsible for a significant amount of the construction costs and therefore was deemed , for accounting purposes , to be the owner of the building during the construction period in accordance with asc 840-40-15-5 . the $ 13200 fair market value of the facility is included within property and equipment , net on the consolidated balance sheet . at september 26 , 2009 , the company has recorded $ 982 in accrued expenses and source : hologic inc , 10-k , november 24 , 2009 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. .
Question: what percentage of lease payments will be paid after 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: |
-0.0332 | 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 2001 to 2002? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.04196 | Context:potentially responsible parties , and existing technology , laws , and regulations . the ultimate liability for remediation is difficult to determine because of the number of potentially responsible parties involved , site- specific cost sharing arrangements with other potentially responsible parties , the degree of contamination by various wastes , the scarcity and quality of volumetric data related to many of the sites , and the speculative nature of remediation costs . current obligations are not expected to have a material adverse effect on our consolidated results of operations , financial condition , or liquidity . personal injury 2013 the cost of personal injuries to employees and others related to our activities is charged to expense based on estimates of the ultimate cost and number of incidents each year . we use third-party actuaries to assist us with measuring the expense and liability , including unasserted claims . the federal employers 2019 liability act ( fela ) governs compensation for work-related accidents . under fela , damages are assessed based on a finding of fault through litigation or out-of-court settlements . we offer a comprehensive variety of services and rehabilitation programs for employees who are injured at work . annual expenses for personal injury-related events were $ 240 million in 2006 , $ 247 million in 2005 , and $ 288 million in 2004 . as of december 31 , 2006 and 2005 , we had accrued liabilities of $ 631 million and $ 619 million for future personal injury costs , respectively , of which $ 233 million and $ 274 million was recorded in current liabilities as accrued casualty costs , respectively . our personal injury liability is discounted to present value using applicable u.s . treasury rates . approximately 87% ( 87 % ) of the recorded liability related to asserted claims , and approximately 13% ( 13 % ) related to unasserted claims . estimates can vary over time due to evolving trends in litigation . our personal injury claims activity was as follows : claims activity 2006 2005 2004 .
|claims activity|2006|2005|2004|
|open claims beginning balance|4197|4028|4085|
|new claims|4190|4584|4366|
|settled or dismissed claims|-4261 ( 4261 )|-4415 ( 4415 )|-4423 ( 4423 )|
|open claims ending balance at december 31|4126|4197|4028|
depreciation 2013 the railroad industry is capital intensive . properties are carried at cost . provisions for depreciation are computed principally on the straight-line method based on estimated service lives of depreciable property . the lives are calculated using a separate composite annual percentage rate for each depreciable property group , based on the results of internal depreciation studies . we are required to submit a report on depreciation studies and proposed depreciation rates to the stb for review and approval every three years for equipment property and every six years for road property . the cost ( net of salvage ) of depreciable railroad property retired or replaced in the ordinary course of business is charged to accumulated depreciation , and no gain or loss is recognized . a gain or loss is recognized in other income for all other property upon disposition because the gain or loss is not part of rail operations . the cost of internally developed software is capitalized and amortized over a five-year period . significant capital spending in recent years increased the total value of our depreciable assets . cash capital spending totaled $ 2.2 billion for the year ended december 31 , 2006 . for the year ended december 31 , 2006 , depreciation expense was $ 1.2 billion . we use various methods to estimate useful lives for each group of depreciable property . due to the capital intensive nature of the business and the large base of depreciable assets , variances to those estimates could have a material effect on our consolidated financial statements . if the estimated useful lives of all depreciable assets were increased by one year , annual depreciation expense would decrease by approximately $ 43 million . if the estimated useful lives of all assets to be depreciated were decreased by one year , annual depreciation expense would increase by approximately $ 45 million . income taxes 2013 as required under fasb statement no . 109 , accounting for income taxes , we account for income taxes by recording taxes payable or refundable for the current year and deferred tax assets and liabilities for the future tax consequences of events that have been recognized in our financial statements or tax returns . these .
Question: what was the percentage change in open claims ending balance at december 31 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: |
0.49266 | Context:2010 . on november 1 , 2010 , we redeemed all $ 400 million of our outstanding 6.65% ( 6.65 % ) notes due january 15 , 2011 . the redemption resulted in a $ 5 million early extinguishment charge . receivables securitization facility 2013 at december 31 , 2010 , we have recorded $ 100 million as secured debt under our receivables securitization facility . ( see further discussion of our receivables securitization facility in note 10. ) 15 . variable interest entities we have entered into various lease transactions in which the structure of the leases contain variable interest entities ( vies ) . these vies were created solely for the purpose of doing lease transactions ( principally involving railroad equipment and facilities ) and have no other activities , assets or liabilities outside of the lease transactions . within these lease arrangements , we have the right to purchase some or all of the assets at fixed prices . depending on market conditions , fixed-price purchase options available in the leases could potentially provide benefits to us ; however , these benefits are not expected to be significant . we maintain and operate the assets based on contractual obligations within the lease arrangements , which set specific guidelines consistent within the railroad industry . as such , we have no control over activities that could materially impact the fair value of the leased assets . we do not hold the power to direct the activities of the vies and , therefore , do not control the ongoing activities that have a significant impact on the economic performance of the vies . additionally , we do not have the obligation to absorb losses of the vies or the right to receive benefits of the vies that could potentially be significant to the we are not considered to be the primary beneficiary and do not consolidate these vies because our actions and decisions do not have the most significant effect on the vie 2019s performance and our fixed-price purchase price options are not considered to be potentially significant to the vie 2019s . the future minimum lease payments associated with the vie leases totaled $ 4.2 billion as of december 31 , 2010 . 16 . leases we lease certain locomotives , freight cars , and other property . the consolidated statement of financial position as of december 31 , 2010 and 2009 included $ 2520 million , net of $ 901 million of accumulated depreciation , and $ 2754 million , net of $ 927 million of accumulated depreciation , respectively , for properties held under capital leases . a charge to income resulting from the depreciation for assets held under capital leases is included within depreciation expense in our consolidated statements of income . future minimum lease payments for operating and capital leases with initial or remaining non-cancelable lease terms in excess of one year as of december 31 , 2010 , were as follows : millions operating leases capital leases .
|millions|operatingleases|capitalleases|
|2011|$ 613|$ 311|
|2012|526|251|
|2013|461|253|
|2014|382|261|
|2015|340|262|
|later years|2599|1355|
|total minimum lease payments|$ 4921|$ 2693|
|amount representing interest|n/a|-784 ( 784 )|
|present value of minimum lease payments|n/a|$ 1909|
the majority of capital lease payments relate to locomotives . rent expense for operating leases with terms exceeding one month was $ 624 million in 2010 , $ 686 million in 2009 , and $ 747 million in 2008 . when cash rental payments are not made on a straight-line basis , we recognize variable rental expense on a straight-line basis over the lease term . contingent rentals and sub-rentals are not significant. .
Question: how much less , in percentage , were the capital leases in 2011 than the operating leases? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
71.91 | Context:table of contents stock performance graph * $ 100 invested on 11/17/11 in our stock or 10/31/11 in the relevant index , including reinvestment of dividends . fiscal year ending december 31 , 2015 . ( 1 ) delphi automotive plc ( 2 ) s&p 500 2013 standard & poor 2019s 500 total return index ( 3 ) automotive supplier peer group 2013 russell 3000 auto parts index , including american axle & manufacturing , borgwarner inc. , cooper tire & rubber company , dana holding corp. , delphi automotive plc , dorman products inc. , federal-mogul corp. , ford motor co. , fuel systems solutions inc. , general motors co. , gentex corp. , gentherm inc. , genuine parts co. , johnson controls inc. , lear corp. , lkq corp. , meritor inc. , standard motor products inc. , stoneridge inc. , superior industries international , tenneco inc. , tesla motors inc. , the goodyear tire & rubber co. , tower international inc. , visteon corp. , and wabco holdings inc . company index november 17 , december 31 , december 31 , december 31 , december 31 , december 31 .
|company index|november 17 2011|december 31 2011|december 31 2012|december 31 2013|december 31 2014|december 31 2015|
|delphi automotive plc ( 1 )|$ 100.00|$ 100.98|$ 179.33|$ 285.81|$ 350.82|$ 418.67|
|s&p 500 ( 2 )|100.00|100.80|116.93|154.80|175.99|178.43|
|automotive supplier peer group ( 3 )|100.00|89.62|109.96|166.26|176.25|171.91|
dividends the company has declared and paid cash dividends of $ 0.25 per ordinary share in each quarter of 2014 and 2015 . in addition , in january 2016 , the board of directors increased the annual dividend rate to $ 1.16 per ordinary share , and declared a regular quarterly cash dividend of $ 0.29 per ordinary share , payable on february 29 , 2016 to shareholders of record at the close of business on february 17 , 2016. .
Question: what is the lowest return for the last 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: |
5997.0 | Context:bhge 2018 form 10-k | 39 outstanding under the commercial paper program . the maximum combined borrowing at any time under both the 2017 credit agreement and the commercial paper program is $ 3 billion . if market conditions were to change and our revenue was reduced significantly or operating costs were to increase , our cash flows and liquidity could be reduced . additionally , it could cause the rating agencies to lower our credit rating . there are no ratings triggers that would accelerate the maturity of any borrowings under our committed credit facility . however , a downgrade in our credit ratings could increase the cost of borrowings under the credit facility and could also limit or preclude our ability to issue commercial paper . should this occur , we could seek alternative sources of funding , including borrowing under the credit facility . during the year ended december 31 , 2018 , we used cash to fund a variety of activities including certain working capital needs and restructuring costs , capital expenditures , the repayment of debt , payment of dividends , distributions to ge and share repurchases . we believe that cash on hand , cash flows generated from operations and the available credit facility will provide sufficient liquidity to manage our global cash needs . cash flows cash flows provided by ( used in ) each type of activity were as follows for the years ended december 31: .
|( in millions )|2018|2017|2016|
|operating activities|$ 1762|$ -799 ( 799 )|$ 262|
|investing activities|-578 ( 578 )|-4123 ( 4123 )|-472 ( 472 )|
|financing activities|-4363 ( 4363 )|10919|-102 ( 102 )|
operating activities our largest source of operating cash is payments from customers , of which the largest component is collecting cash related to product or services sales including advance payments or progress collections for work to be performed . the primary use of operating cash is to pay our suppliers , employees , tax authorities and others for a wide range of material and services . cash flows from operating activities generated cash of $ 1762 million and used cash of $ 799 million for the years ended december 31 , 2018 and 2017 , respectively . cash flows from operating activities increased $ 2561 million in 2018 primarily driven by better operating performance . these cash inflows were supported by strong working capital cash flows , especially in the fourth quarter of 2018 , including approximately $ 300 million for a progress collection payment from a customer . included in our cash flows from operating activities for 2018 and 2017 are payments of $ 473 million and $ 612 million , respectively , made primarily for employee severance as a result of our restructuring activities and merger and related costs . cash flows from operating activities used $ 799 million and generated $ 262 million for the years ended december 31 , 2017 and 2016 , respectively . cash flows from operating activities decreased $ 1061 million in 2017 primarily driven by a $ 1201 million negative impact from ending our receivables monetization program in the fourth quarter , and restructuring related payments throughout the year . these cash outflows were partially offset by strong working capital cash flows , especially in the fourth quarter of 2017 . included in our cash flows from operating activities for 2017 and 2016 are payments of $ 612 million and $ 177 million , respectively , made for employee severance as a result of our restructuring activities and merger and related costs . investing activities cash flows from investing activities used cash of $ 578 million , $ 4123 million and $ 472 million for the years ended december 31 , 2018 , 2017 and 2016 , respectively . our principal recurring investing activity is the funding of capital expenditures to ensure that we have the appropriate levels and types of machinery and equipment in place to generate revenue from operations . expenditures for capital assets totaled $ 995 million , $ 665 million and $ 424 million for 2018 , 2017 and 2016 , respectively , partially offset by cash flows from the sale of property , plant and equipment of $ 458 million , $ 172 million and $ 20 million in 2018 , 2017 and 2016 , respectively . proceeds from the disposal of assets related primarily .
Question: what is the net change in cash during 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: |
0.16667 | Context:the impairment tests performed for intangible assets as of july 31 , 2013 , 2012 and 2011 indicated no impairment charges were required . estimated amortization expense for finite-lived intangible assets for each of the five succeeding years is as follows : ( in millions ) .
|year|amount|
|2014|$ 156|
|2015|126|
|2016|91|
|2017|74|
|2018|24|
indefinite-lived acquired management contracts in july 2013 , in connection with the credit suisse etf transaction , the company acquired $ 231 million of indefinite-lived management contracts . in march 2012 , in connection with the claymore transaction , the company acquired $ 163 million of indefinite-lived etp management contracts . finite-lived acquired management contracts in october 2013 , in connection with the mgpa transaction , the company acquired $ 29 million of finite-lived management contracts with a weighted-average estimated useful life of approximately eight years . in september 2012 , in connection with the srpep transaction , the company acquired $ 40 million of finite- lived management contracts with a weighted-average estimated useful life of approximately 10 years . 11 . other assets at march 31 , 2013 , blackrock held an approximately one- third economic equity interest in private national mortgage acceptance company , llc ( 201cpnmac 201d ) , which is accounted for as an equity method investment and is included in other assets on the consolidated statements of financial condition . on may 8 , 2013 , pennymac became the sole managing member of pnmac in connection with an initial public offering of pennymac ( the 201cpennymac ipo 201d ) . as a result of the pennymac ipo , blackrock recorded a noncash , nonoperating pre-tax gain of $ 39 million related to the carrying value of its equity method investment . subsequent to the pennymac ipo , the company contributed 6.1 million units of its investment to a new donor advised fund ( the 201ccharitable contribution 201d ) . the fair value of the charitable contribution was $ 124 million and is included in general and administration expenses on the consolidated statements of income . in connection with the charitable contribution , the company also recorded a noncash , nonoperating pre-tax gain of $ 80 million related to the contributed investment and a tax benefit of approximately $ 48 million . the carrying value and fair value of the company 2019s remaining interest ( approximately 20% ( 20 % ) or 16 million shares and units ) was approximately $ 127 million and $ 273 million , respectively , at december 31 , 2013 . the fair value of the company 2019s interest reflected the pennymac stock price at december 31 , 2013 ( level 1 input ) . 12 . borrowings short-term borrowings the carrying value of short-term borrowings at december 31 , 2012 included $ 100 million under the 2012 revolving credit facility . 2013 revolving credit facility . in march 2011 , the company entered into a five-year $ 3.5 billion unsecured revolving credit facility ( the 201c2011 credit facility 201d ) . in march 2012 , the 2011 credit facility was amended to extend the maturity date by one year to march 2017 and in april 2012 the amount of the aggregate commitment was increased to $ 3.785 billion ( the 201c2012 credit facility 201d ) . in march 2013 , the company 2019s credit facility was amended to extend the maturity date by one year to march 2018 and the amount of the aggregate commitment was increased to $ 3.990 billion ( the 201c2013 credit facility 201d ) . the 2013 credit facility permits the company to request up to an additional $ 1.0 billion of borrowing capacity , subject to lender credit approval , increasing the overall size of the 2013 credit facility to an aggregate principal amount not to exceed $ 4.990 billion . interest on borrowings outstanding accrues at a rate based on the applicable london interbank offered rate plus a spread . the 2013 credit facility requires the company not to exceed a maximum leverage ratio ( ratio of net debt to earnings before interest , taxes , depreciation and amortization , where net debt equals total debt less unrestricted cash ) of 3 to 1 , which was satisfied with a ratio of less than 1 to 1 at december 31 , 2013 . the 2013 credit facility provides back- up liquidity , funds ongoing working capital for general corporate purposes and funds various investment opportunities . at december 31 , 2013 , the company had no amount outstanding under the 2013 credit facility . commercial paper program . on october 14 , 2009 , blackrock established a commercial paper program ( the 201ccp program 201d ) under which the company could issue unsecured commercial paper notes ( the 201ccp notes 201d ) on a private placement basis up to a maximum aggregate amount outstanding at any time of $ 3.0 billion . on may 13 , 2011 , blackrock increased the maximum aggregate amount that may be borrowed under the cp program to $ 3.5 billion . on may 17 , 2012 , blackrock increased the maximum aggregate amount to $ 3.785 billion . in april 2013 , blackrock increased the maximum aggregate amount for which the company could issue unsecured cp notes on a private-placement basis up to a maximum aggregate amount outstanding at any time of $ 3.990 billion . the commercial paper program is currently supported by the 2013 credit facility . at december 31 , 2013 and 2012 , blackrock had no cp notes outstanding. .
Question: what is the percentage increase in the maximum aggregate amount that may be borrowed under the cp program from 2009 to 2011? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
7.0 | Context:notes to the audited consolidated financial statements director stock compensation subplan eastman's 2018 director stock compensation subplan ( "directors' subplan" ) , a component of the 2017 omnibus plan , remains in effect until terminated by the board of directors or the earlier termination of the 2017 omnibus plan . the directors' subplan provides for structured awards of restricted shares to non-employee members of the board of directors . restricted shares awarded under the directors' subplan are subject to the same terms and conditions of the 2017 omnibus plan . the directors' subplan does not constitute a separate source of shares for grant of equity awards and all shares awarded are part of the 10 million shares authorized under the 2017 omnibus plan . shares of restricted stock are granted on the first day of a non- employee director's initial term of service and shares of restricted stock are granted each year to each non-employee director on the date of the annual meeting of stockholders . it has been the company's practice to issue new shares rather than treasury shares for equity awards for compensation plans , including the 2017 omnibus plan and the directors' subplan , that require settlement by the issuance of common stock and to withhold or accept back shares awarded to cover the related income tax obligations of employee participants . shares of unrestricted common stock owned by non-employee directors are not eligible to be withheld or acquired to satisfy the withholding obligation related to their income taxes . shares of unrestricted common stock owned by specified senior management level employees are accepted by the company to pay the exercise price of stock options in accordance with the terms and conditions of their awards . compensation expense for 2018 , 2017 , and 2016 , total share-based compensation expense ( before tax ) of approximately $ 64 million , $ 52 million , and $ 36 million , respectively , was recognized in "selling , general and administrative expense" in the consolidated statements of earnings , comprehensive income and retained earnings for all share-based awards of which approximately $ 9 million , $ 8 million , and $ 7 million , respectively , related to stock options . the compensation expense is recognized over the substantive vesting period , which may be a shorter time period than the stated vesting period for qualifying termination eligible employees as defined in the forms of award notice . approximately $ 3 million for 2018 , and $ 2 million for both 2017 and 2016 , of stock option compensation expense was recognized each year due to qualifying termination eligibility preceding the requisite vesting period . stock option awards options have been granted on an annual basis to non-employee directors under the directors' subplan and predecessor plans and by the compensation and management development committee of the board of directors under the 2017 omnibus plan and predecessor plans to employees . option awards have an exercise price equal to the closing price of the company's stock on the date of grant . the term of options is 10 years with vesting periods that vary up to three years . vesting usually occurs ratably over the vesting period or at the end of the vesting period . the company utilizes the black scholes merton option valuation model which relies on certain assumptions to estimate an option's fair value . the weighted average assumptions used in the determination of fair value for stock options awarded in 2018 , 2017 , and 2016 are provided in the table below: .
|assumptions|2018|2017|2016|
|expected volatility rate|19.03% ( 19.03 % )|20.45% ( 20.45 % )|23.71% ( 23.71 % )|
|expected dividend yield|2.48% ( 2.48 % )|2.64% ( 2.64 % )|2.31% ( 2.31 % )|
|average risk-free interest rate|2.61% ( 2.61 % )|1.91% ( 1.91 % )|1.23% ( 1.23 % )|
|expected term years|5.1|5.0|5.0|
the volatility rate of grants is derived from historical company common stock price volatility over the same time period as the expected term of each stock option award . the volatility rate is derived by mathematical formula utilizing the weekly high closing stock price data over the expected term . the expected dividend yield is calculated using the company's average of the last four quarterly dividend yields . the average risk-free interest rate is derived from united states department of treasury published interest rates of daily yield curves for the same time period as the expected term. .
Question: what was the sum of the approximate compensation expense recognized 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: |
0.00689 | Context:note 11 . commitments and contingencies commitments leases the company fffds corporate headquarters is located in danvers , massachusetts . this facility encompasses most of the company fffds u.s . operations , including research and development , manufacturing , sales and marketing and general and administrative departments . in october 2017 , the acquired its corporate headquarters for approximately $ 16.5 million and terminated its existing lease arrangement ( see note 6 ) . future minimum lease payments under non-cancelable leases as of march 31 , 2018 are approximately as follows : fiscal years ending march 31 , operating leases ( in $ 000s ) .
|fiscal years ending march 31,|operating leases ( in $ 000s )|
|2019|$ 2078|
|2020|1888|
|2021|1901|
|2022|1408|
|2023|891|
|thereafter|1923|
|total minimum lease payments|$ 10089|
in february 2017 , the company entered into a lease agreement for an additional 21603 square feet of office space in danvers , massachusetts which expires on july 31 , 2022 . in december 2017 , the company entered into an amendment to this lease to extend the term through august 31 , 2025 and to add an additional 6607 square feet of space in which rent would begin around june 1 , 2018 . the amendment also allows the company a right of first offer to purchase the property from january 1 , 2018 through august 31 , 2035 , if the lessor decides to sell the building or receives an offer to purchase the building from a third-party buyer . in march 2018 , the company entered into an amendment to the lease to add an additional 11269 square feet of space for which rent will begin on or around june 1 , 2018 through august 31 , 2025 . the annual rent expense for this lease agreement is estimated to be $ 0.4 million . in september 2016 , the company entered into a lease agreement in berlin , germany which commenced in may 2017 and expires in may 2024 . the annual rent expense for the lease is estimated to be $ 0.3 million . in october 2016 , the company entered into a lease agreement for an office in tokyokk japan and expires in september 2021 . the office houses administrative , regulatory , and training personnel in connection with the company fffds commercial launch in japan . the annual rent expense for the lease is estimated to be $ 0.9 million . license agreements in april 2014 , the company entered into an exclusive license agreement for the rights to certain optical sensor technologies in the field of cardio-circulatory assist devices . pursuant to the terms of the license agreement , the company agreed to make potential payments of $ 6.0 million . through march 31 , 2018 , the company has made $ 3.5 million in milestones payments which included a $ 1.5 million upfront payment upon the execution of the agreement . any potential future milestone payment amounts have not been included in the contractual obligations table above due to the uncertainty related to the successful achievement of these milestones . contingencies from time to time , the company is involved in legal and administrative proceedings and claims of various types . in some actions , the claimants seek damages , as well as other relief , which , if granted , would require significant expenditures . the company records a liability in its consolidated financial statements for these matters when a loss is known or considered probable and the amount can be reasonably estimated . the company reviews these estimates each accounting period as additional information is known and adjusts the loss provision when appropriate . if a matter is both probable to result in liability and the amount of loss can be reasonably estimated , the company estimates and discloses the possible loss or range of loss . if the loss is not probable or cannot be reasonably estimated , a liability is not recorded in its consolidated financial statements. .
Question: what is the expected growth rate in operating leases from 2020 to 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: |
8129.0 | Context:distribution xpedx , our north american merchant distribution business , distributes products and services to a number of customer markets including : commercial printers with printing papers and graphic pre-press , printing presses and post-press equipment ; building services and away-from-home markets with facility supplies ; manufacturers with packaging supplies and equipment ; and to a growing number of customers , we exclusively provide distribution capabilities including warehousing and delivery services . xpedx is the leading wholesale distribution marketer in these customer and product segments in north america , operating 122 warehouse locations and 130 retail stores in the united states , mexico and cana- forest products international paper owns and manages approx- imately 200000 acres of forestlands and develop- ment properties in the united states , mostly in the south . our remaining forestlands are managed as a portfolio to optimize the economic value to our shareholders . most of our portfolio represents prop- erties that are likely to be sold to investors and other buyers for various purposes . specialty businesses and other chemicals : this business was sold in the first quarter of 2007 . ilim holding s.a . in october 2007 , international paper and ilim holding s.a . ( ilim ) completed a 50:50 joint venture to operate a pulp and paper business located in russia . ilim 2019s facilities include three paper mills located in bratsk , ust-ilimsk , and koryazhma , russia , with combined total pulp and paper capacity of over 2.5 million tons . ilim has exclusive harvesting rights on timberland and forest areas exceeding 12.8 million acres ( 5.2 million hectares ) . products and brand designations appearing in italics are trademarks of international paper or a related company . industry segment results industrial packaging demand for industrial packaging products is closely correlated with non-durable industrial goods pro- duction , as well as with demand for processed foods , poultry , meat and agricultural products . in addition to prices and volumes , major factors affecting the profitability of industrial packaging are raw material and energy costs , freight costs , manufacturing effi- ciency and product mix . industrial packaging results for 2009 and 2008 include the cbpr business acquired in the 2008 third quarter . net sales for 2009 increased 16% ( 16 % ) to $ 8.9 billion compared with $ 7.7 billion in 2008 , and 69% ( 69 % ) compared with $ 5.2 billion in 2007 . operating profits were 95% ( 95 % ) higher in 2009 than in 2008 and more than double 2007 levels . benefits from higher total year-over-year shipments , including the impact of the cbpr business , ( $ 11 million ) , favorable operating costs ( $ 294 million ) , and lower raw material and freight costs ( $ 295 million ) were parti- ally offset by the effects of lower price realizations ( $ 243 million ) , higher corporate overhead allocations ( $ 85 million ) , incremental integration costs asso- ciated with the acquisition of the cbpr business ( $ 3 million ) and higher other costs ( $ 7 million ) . additionally , operating profits in 2009 included a gain of $ 849 million relating to alternative fuel mix- ture credits , u.s . plant closure costs of $ 653 million , and costs associated with the shutdown of the eti- enne mill in france of $ 87 million . industrial packaging in millions 2009 2008 2007 .
|in millions|2009|2008|2007|
|sales|$ 8890|$ 7690|$ 5245|
|operating profit|761|390|374|
north american industrial packaging results include the net sales and operating profits of the cbpr business from the august 4 , 2008 acquis- ition date . net sales were $ 7.6 billion in 2009 com- pared with $ 6.2 billion in 2008 and $ 3.9 billion in 2007 . operating profits in 2009 were $ 791 million ( $ 682 million excluding alternative fuel mixture cred- its , mill closure costs and costs associated with the cbpr integration ) compared with $ 322 million ( $ 414 million excluding charges related to the write-up of cbpr inventory to fair value , cbpr integration costs and other facility closure costs ) in 2008 and $ 305 million in 2007 . excluding the effect of the cbpr acquisition , con- tainerboard and box shipments were lower in 2009 compared with 2008 reflecting weaker customer demand . average sales price realizations were sig- nificantly lower for both containerboard and boxes due to weaker world-wide economic conditions . however , average sales margins for boxes .
Question: what is the value of operating expenses and other costs concerning the activities , in 2009? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.27941 | 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 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: |
3.33333 | Context:remaining service period of active members expected to receive benefits under the plan or , in the case of closed plans , the expected future lifetime of the employees participating in the plan . for the years ended december 31 , 2018 and 2017 , the service cost component of net periodic benefit cost was classified in selling , general and administrative expenses , while the other components of net periodic benefit cost were classified in other income , net in our consolidated statements of income . for the year ended december 31 , 2016 , all components of net periodic benefit expense were included in selling , general , and administrative expenses in our consolidated statements of income . for the year ending december 31 , 2019 , we expect net periodic benefit costs to increase by approximately $ 2 million due to the fact that we will incur a full year of pension expense related to our stahlgruber business , compared to a partial year in 2018 . the table below summarizes the weighted-average assumptions used to calculate the net periodic benefit cost in the table above: .
||2018|2017|2016|
|discount rate used to determine service cost|1.3% ( 1.3 % )|1.5% ( 1.5 % )|1.6% ( 1.6 % )|
|discount rate used to determine interest cost|2.5% ( 2.5 % )|3.0% ( 3.0 % )|3.0% ( 3.0 % )|
|rate of future compensation increase|1.9% ( 1.9 % )|1.3% ( 1.3 % )|2.0% ( 2.0 % )|
|expected long-term return on plan assets ( 1 )|4.8% ( 4.8 % )|5.0% ( 5.0 % )|5.1% ( 5.1 % )|
expected long-term return on plan assets ( 1 ) 4.8% ( 4.8 % ) 5.0% ( 5.0 % ) 5.1% ( 5.1 % ) ( 1 ) our expected long-term return on plan assets is determined based on our asset allocation and estimate of future long- term returns by asset class . assumed mortality is also a key assumption in determining benefit obligations and net periodic benefit cost . in some of our european plans , a price inflation index is also an assumption in determining benefit obligations and net periodic benefit as of december 31 , 2018 , the pre-tax amounts recognized in accumulated other comprehensive income consisted of $ 10 million of net actuarial losses for our defined benefit plans that have not yet been recognized in net periodic benefit cost . of this amount , we expect $ 0.2 million to be recognized as a component of net periodic benefit cost during the year ending december 31 , 2019 . fair value of plan assets fair value is defined as the amount that would be received for selling an asset or paid to transfer a liability in an orderly transaction between market participants . the tiers in the fair value hierarchy include : level 1 , defined as observable inputs such as quoted market prices in active markets ; level 2 , defined as inputs other than quoted prices in active markets that are either directly or indirectly observable ; and level 3 , defined as significant unobservable inputs in which little or no market data exists , therefore requiring an entity to develop its own assumptions . investments that are valued using net asset value ( "nav" ) ( or its equivalent ) as a practical expedient are excluded from the fair value hierarchy disclosure . the following is a description of the valuation methodologies used for assets reported at fair value . the methodologies used at december 31 , 2018 and december 31 , 2017 are the same . level 1 investments : cash and cash equivalents are valued based on cost , which approximates fair value . mutual funds are valued based on reported market prices on the last trading day of the fiscal year . level 3 investments : investments in insurance contracts represent the cash surrender value of the insurance policy . these are actuarially determined amounts based on projections of future benefit payments , discount rates , and expected long- term rate of return on assets. .
Question: based on the review of the weighted-average assumptions used to calculate the net periodic benefit cost what was the ratio of the expected long-term return on plan assets ( 1 ) to the discount rate used to determine service cost in 2017 | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.10983 | Context:liquidity and capital resources as of december 31 , 2006 , our principal sources of liquidity included cash , cash equivalents , the sale of receivables , and our revolving credit facilities , as well as the availability of commercial paper and other sources of financing through the capital markets . we had $ 2 billion of committed credit facilities available , of which there were no borrowings outstanding as of december 31 , 2006 , and we did not make any short-term borrowings under these facilities during the year . the value of the outstanding undivided interest held by investors under the sale of receivables program was $ 600 million as of december 31 , 2006 . the sale of receivables program is subject to certain requirements , including the maintenance of an investment grade bond rating . if our bond rating were to deteriorate , it could have an adverse impact on our liquidity . access to commercial paper is dependent on market conditions . deterioration of our operating results or financial condition due to internal or external factors could negatively impact our ability to utilize commercial paper as a source of liquidity . liquidity through the capital markets is also dependent on our financial stability . at both december 31 , 2006 and 2005 , we had a working capital deficit of approximately $ 1.1 billion . a working capital deficit is common in our industry and does not indicate a lack of liquidity . we maintain adequate resources to meet our daily cash requirements , and we have sufficient financial capacity to satisfy our current liabilities . financial condition cash flows millions of dollars 2006 2005 2004 .
|cash flowsmillions of dollars|2006|2005|2004|
|cash provided by operating activities|$ 2880|$ 2595|$ 2257|
|cash used in investing activities|-2042 ( 2042 )|-2047 ( 2047 )|-1732 ( 1732 )|
|cash used in financing activities|-784 ( 784 )|-752 ( 752 )|-75 ( 75 )|
|net change in cash and cash equivalents|$ 54|$ -204 ( 204 )|$ 450|
cash provided by operating activities 2013 higher income in 2006 generated the increased cash provided by operating activities , which was partially offset by higher income tax payments , $ 150 million in voluntary pension contributions , higher material and supply inventories , and higher management incentive payments in 2006 . higher income , lower management incentive payments in 2005 ( executive bonuses , which would have been paid to individuals in 2005 , were not awarded based on company performance in 2004 and bonuses for the professional workforce that were paid out in 2005 were significantly reduced ) , and working capital performance generated higher cash from operating activities in 2005 . a voluntary pension contribution of $ 100 million in 2004 also augmented the positive year-over-year variance in 2005 as no pension contribution was made in 2005 . this improvement was partially offset by cash received in 2004 for income tax refunds . cash used in investing activities 2013 an insurance settlement for the 2005 january west coast storm and lower balances for work in process decreased the amount of cash used in investing activities in 2006 . higher capital investments and lower proceeds from asset sales partially offset this decrease . increased capital spending , partially offset by higher proceeds from asset sales , increased the amount of cash used in investing activities in 2005 compared to 2004 . cash used in financing activities 2013 the increase in cash used in financing activities primarily resulted from lower net proceeds from equity compensation plans ( $ 189 million in 2006 compared to $ 262 million in 2005 ) . the increase in 2005 results from debt issuances in 2004 and higher debt repayments in 2005 . we did not issue debt in 2005 versus $ 745 million of debt issuances in 2004 , and we repaid $ 699 million of debt in 2005 compared to $ 588 million in 2004 . the higher outflows in 2005 were partially offset by higher net proceeds from equity compensation plans ( $ 262 million in 2005 compared to $ 80 million in 2004 ) . .
Question: what was the percentage change in cash provided by operating activities 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: |
0.07229 | Context:operating/performance statistics railroad performance measures reported to the aar , as well as other performance measures , are included in the table below : 2010 2009 2008 % ( % ) change 2010 v 2009 % ( % ) change 2009 v 2008 .
||2010|2009|2008|% ( % ) change 2010 v 2009|% ( % ) change2009 v 2008|
|average train speed ( miles per hour )|26.2|27.3|23.5|( 4 ) % ( % )|16% ( 16 % )|
|average terminal dwell time ( hours )|25.4|24.8|24.9|2% ( 2 % )|-|
|average rail car inventory ( thousands )|274.4|283.1|300.7|( 3 ) % ( % )|( 6 ) % ( % )|
|gross ton-miles ( billions )|932.4|846.5|1020.4|10% ( 10 % )|( 17 ) % ( % )|
|revenue ton-miles ( billions )|520.4|479.2|562.6|9% ( 9 % )|( 15 ) % ( % )|
|operating ratio|70.6|76.1|77.4|( 5.5 ) pt|( 1.3 ) pt|
|employees ( average )|42884|43531|48242|( 1 ) % ( % )|( 10 ) % ( % )|
|customer satisfaction index|89|88|83|1 pt|5 pt|
average train speed 2013 average train speed is calculated by dividing train miles by hours operated on our main lines between terminals . maintenance activities and weather disruptions , combined with higher volume levels , led to a 4% ( 4 % ) decrease in average train speed in 2010 compared to a record set in 2009 . overall , we continued operating a fluid and efficient network during the year . lower volume levels , ongoing network management initiatives , and productivity improvements contributed to a 16% ( 16 % ) improvement in average train speed in 2009 compared to 2008 . average terminal dwell time 2013 average terminal dwell time is the average time that a rail car spends at our terminals . lower average terminal dwell time improves asset utilization and service . average terminal dwell time increased 2% ( 2 % ) in 2010 compared to 2009 , driven in part by our network plan to increase the length of numerous trains to improve overall efficiency , which resulted in higher terminal dwell time for some cars . average terminal dwell time improved slightly in 2009 compared to 2008 due to lower volume levels combined with initiatives to expedite delivering rail cars to our interchange partners and customers . average rail car inventory 2013 average rail car inventory is the daily average number of rail cars on our lines , including rail cars in storage . lower average rail car inventory reduces congestion in our yards and sidings , which increases train speed , reduces average terminal dwell time , and improves rail car utilization . average rail car inventory decreased 3% ( 3 % ) in 2010 compared to 2009 , while we handled 13% ( 13 % ) increases in carloads during the period compared to 2009 . we maintained more freight cars off-line and retired a number of old freight cars , which drove the decreases . average rail car inventory decreased 6% ( 6 % ) in 2009 compared to 2008 driven by a 16% ( 16 % ) decrease in volume . in addition , as carloads decreased , we stored more freight cars off-line . gross and revenue ton-miles 2013 gross ton-miles are calculated by multiplying the weight of loaded and empty freight cars by the number of miles hauled . revenue ton-miles are calculated by multiplying the weight of freight by the number of tariff miles . gross and revenue-ton-miles increased 10% ( 10 % ) and 9% ( 9 % ) in 2010 compared to 2009 due to a 13% ( 13 % ) increase in carloads . commodity mix changes ( notably automotive shipments ) drove the variance in year-over-year growth between gross ton-miles , revenue ton-miles and carloads . gross and revenue ton-miles decreased 17% ( 17 % ) and 15% ( 15 % ) in 2009 compared to 2008 due to a 16% ( 16 % ) decrease in carloads . commodity mix changes ( notably automotive shipments , which were 30% ( 30 % ) lower in 2009 versus 2008 ) drove the difference in declines between gross ton-miles and revenue ton- miles . operating ratio 2013 operating ratio is defined as our operating expenses as a percentage of operating revenue . our operating ratio improved 5.5 points to 70.6% ( 70.6 % ) in 2010 and 1.3 points to 76.1% ( 76.1 % ) in 2009 . efficiently leveraging volume increases , core pricing gains , and productivity initiatives drove the improvement in 2010 and more than offset the impact of higher fuel prices during the year . core pricing gains , lower fuel prices , network management initiatives , and improved productivity drove the improvement in 2009 and more than offset the 16% ( 16 % ) volume decline . employees 2013 employee levels were down 1% ( 1 % ) in 2010 compared to 2009 despite a 13% ( 13 % ) increase in volume levels . we leveraged the additional volumes through network efficiencies and other productivity initiatives . in addition , we successfully managed the growth of our full-time-equivalent train and engine force levels at a rate less than half of our carload growth in 2010 . all other operating functions and .
Question: what is the percentage increase from 2008 customer satisfaction index to the 2010 customer satisfaction 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: |
0.23856 | Context:58 2018 ppg annual report and 10-k the crown group on october 2 , 2017 , ppg acquired the crown group ( 201ccrown 201d ) , a u.s.-based coatings application services business , which is reported as part of ppg's industrial coatings reportable segment . crown is one of the leading component and product finishers in north america . crown applies coatings to customers 2019 manufactured parts and assembled products at 11 u.s . sites . most of crown 2019s facilities , which also provide assembly , warehousing and sequencing services , are located at customer facilities or positioned near customer manufacturing sites . the company serves manufacturers in the automotive , agriculture , construction , heavy truck and alternative energy industries . the pro-forma impact on ppg's sales and results of operations , including the pro forma effect of events that are directly attributable to the acquisition , was not significant . the results of this business since the date of acquisition have been reported within the industrial coatings business within the industrial coatings reportable segment . taiwan chlorine industries taiwan chlorine industries ( 201ctci 201d ) was established in 1986 as a joint venture between ppg and china petrochemical development corporation ( 201ccpdc 201d ) to produce chlorine-based products in taiwan , at which time ppg owned 60 percent of the venture . in conjunction with the 2013 separation of its commodity chemicals business , ppg conveyed to axiall corporation ( "axiall" ) its 60% ( 60 % ) ownership interest in tci . under ppg 2019s agreement with cpdc , if certain post-closing conditions were not met following the three year anniversary of the separation , cpdc had the option to sell its 40% ( 40 % ) ownership interest in tci to axiall for $ 100 million . in turn , axiall had a right to designate ppg as its designee to purchase the 40% ( 40 % ) ownership interest of cpdc . in april 2016 , axiall announced that cpdc had decided to sell its ownership interest in tci to axiall . in june 2016 , axiall formally designated ppg to purchase the 40% ( 40 % ) ownership interest in tci . in august 2016 , westlake chemical corporation acquired axiall , which became a wholly-owned subsidiary of westlake . in april 2017 , ppg finalized its purchase of cpdc 2019s 40% ( 40 % ) ownership interest in tci . the difference between the acquisition date fair value and the purchase price of ppg 2019s 40% ( 40 % ) ownership interest in tci has been recorded as a loss in discontinued operations during the year-ended december 31 , 2017 . ppg 2019s ownership in tci is accounted for as an equity method investment and the related equity earnings are reported within other income in the consolidated statement of income and in legacy in note 20 , 201creportable business segment information . 201d metokote corporation in july 2016 , ppg completed the acquisition of metokote corporation ( "metokote" ) , a u.s.-based coatings application services business . metokote applies coatings to customers' manufactured parts and assembled products . it operates on- site coatings services within several customer manufacturing locations , as well as at regional service centers , located throughout the u.s. , canada , mexico , the united kingdom , germany , hungary and the czech republic . customers ship parts to metokote ae service centers where they are treated to enhance paint adhesion and painted with electrocoat , powder or liquid coatings technologies . coated parts are then shipped to the customer 2019s next stage of assembly . metokote coats an average of more than 1.5 million parts per day . the following table summarizes the estimated fair value of assets acquired and liabilities assumed as reflected in the final purchase price allocation for metokote . ( $ in millions ) .
|current assets|$ 38|
|property plant and equipment|73|
|identifiable intangible assets with finite lives|86|
|goodwill|166|
|deferred income taxes ( a )|-12 ( 12 )|
|total assets|$ 351|
|current liabilities|-23 ( 23 )|
|other long-term liabilities|-22 ( 22 )|
|total liabilities|( $ 45 )|
|total purchase price net of cash acquired|$ 306|
( a ) the net deferred income tax liability is included in assets due to the company's tax jurisdictional netting . the pro-forma impact on ppg's sales and results of operations , including the pro forma effect of events that are directly attributable to the acquisition , was not significant . while calculating this impact , no cost savings or operating synergies that may result from the acquisition were included . the results of this business since the date of acquisition have been reported within the industrial coatings business within the industrial coatings reportable segment . notes to the consolidated financial statements .
Question: what percent of the total purchase price net of cash acquired was property plant and equipment? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.29114 | Context:item 2 . properties as of december 31 , 2014 , we owned or leased 129 major manufacturing sites and 15 major technical centers in 33 countries . a manufacturing site may include multiple plants and may be wholly or partially owned or leased . we also have many smaller manufacturing sites , sales offices , warehouses , engineering centers , joint ventures and other investments strategically located throughout the world . the following table shows the regional distribution of our major manufacturing sites by the operating segment that uses such facilities : north america europe , middle east & africa asia pacific south america total .
||north america|europemiddle east& africa|asia pacific|south america|total|
|electrical/electronic architecture|29|23|20|7|79|
|powertrain systems|4|10|6|2|22|
|electronics and safety|3|9|3|1|16|
|thermal systems|3|3|5|1|12|
|total|39|45|34|11|129|
in addition to these manufacturing sites , we had 15 major technical centers : five in north america ; five in europe , middle east and africa ; four in asia pacific ; and one in south america . of our 129 major manufacturing sites and 15 major technical centers , which include facilities owned or leased by our consolidated subsidiaries , 83 are primarily owned and 61 are primarily leased . we frequently review our real estate portfolio and develop footprint strategies to support our customers 2019 global plans , while at the same time supporting our technical needs and controlling operating expenses . we believe our evolving portfolio will meet current and anticipated future needs . item 3 . legal proceedings we are from time to time subject to various actions , claims , suits , government investigations , and other proceedings incidental to our business , including those arising out of alleged defects , breach of contracts , competition and antitrust matters , product warranties , intellectual property matters , personal injury claims and employment-related matters . it is our opinion that the outcome of such matters will not have a material adverse impact on our consolidated financial position , results of operations , or cash flows . with respect to warranty matters , although we cannot ensure that the future costs of warranty claims by customers will not be material , we believe our established reserves are adequate to cover potential warranty settlements . however , the final amounts required to resolve these matters could differ materially from our recorded estimates . gm ignition switch recall in the first quarter of 2014 , gm , delphi 2019s largest customer , initiated a product recall related to ignition switches . delphi has received requests for information from , and is cooperating with , various government agencies related to this ignition switch recall . in addition , delphi has been named as a co-defendant along with gm ( and in certain cases other parties ) in product liability and class action lawsuits related to this matter . during the second quarter of 2014 , all of the class action cases were transferred to the united states district court for the southern district of new york ( the 201cdistrict court 201d ) for coordinated pretrial proceedings . two consolidated amended class action complaints were filed in the district court on october 14 , 2014 . delphi was not named as a defendant in either complaint . delphi believes the allegations contained in the product liability cases are without merit , and intends to vigorously defend against them . although no assurances can be made as to the ultimate outcome of these or any other future claims , delphi does not believe a loss is probable and , accordingly , no reserve has been made as of december 31 , 2014 . unsecured creditors litigation under the terms of the fourth amended and restated limited liability partnership agreement of delphi automotive llp ( the 201cfourth llp agreement 201d ) , if cumulative distributions to the members of delphi automotive llp under certain provisions of the fourth llp agreement exceed $ 7.2 billion , delphi , as disbursing agent on behalf of dphh , is required to pay to the holders of allowed general unsecured claims against old delphi , $ 32.50 for every $ 67.50 in excess of $ 7.2 billion distributed to the members , up to a maximum amount of $ 300 million . in december 2014 , a complaint was filed in the bankruptcy court alleging that the redemption by delphi automotive llp of the membership interests of gm and the pbgc , and the repurchase of shares and payment of dividends by delphi automotive plc , constituted distributions under the terms of the fourth llp agreement approximating $ 7.2 billion . delphi considers cumulative distributions through december 31 , 2014 to be substantially below the $ 7.2 billion threshold , and intends to vigorously contest the allegations set forth in the complaint . accordingly , no accrual for this matter has been recorded as of december 31 , 2014. .
Question: what is the percentage of europemiddle east& africa's sites concerning all electrical/electronic architecture 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: |
0.00513 | Context:input costs for board and resin are expected to be flat and operating costs are expected to decrease . european consumer packaging net sales in 2013 were $ 380 million compared with $ 380 million in 2012 and $ 375 million in 2011 . operating profits in 2013 were $ 100 million compared with $ 99 million in 2012 and $ 93 million in 2011 . sales volumes in 2013 decreased from 2012 in both the european and russian markets . average sales price realizations were significantly higher in the russian market , but were lower in europe . input costs were flat year-over-year . planned maintenance downtime costs were higher in 2013 than in 2012 . looking forward to the first quarter of 2014 , sales volumes compared with the fourth quarter of 2013 are expected to be about flat . average sales price realizations are expected to be higher in both russia and europe . input costs are expected to increase for wood and energy , but decrease for purchased pulp . there are no maintenance outages scheduled for the first quarter , however the kwidzyn mill will have additional costs associated with the rebuild of a coated board machine . asian consumer packaging net sales were $ 1.1 billion in 2013 compared with $ 830 million in 2012 and $ 855 million in 2011 . operating profits in 2013 were a loss of $ 2 million compared with gains of $ 4 million in 2012 and $ 35 million in 2011 . sales volumes increased in 2013 compared with 2012 , reflecting the ramp-up of a new coated paperboard machine installed in 2012 . however , average sales price realizations were significantly lower , reflecting competitive pressure on sales prices which squeezed margins and created an unfavorable product mix . lower input costs were offset by higher freight costs . in 2012 , start-up costs for the new coated paperboard machine adversely impacted operating profits . in the first quarter of 2014 , sales volumes are expected to increase slightly . average sales price realizations are expected to be flat reflecting continuing competitive pressures . input costs are expected be higher for pulp , energy and chemicals . the business will drive margin improvement through operational excellence and better distribution xpedx , our distribution business , is one of north america 2019s leading business-to-business distributors to manufacturers , facility managers and printers , providing customized solutions that are designed to improve efficiency , reduce costs and deliver results . customer demand is generally sensitive to changes in economic conditions and consumer behavior , along with segment specific activity including corporate advertising and promotional spending , government spending and domestic manufacturing activity . distribution 2019s margins are relatively stable across an economic cycle . providing customers with the best choice for value in both products and supply chain services is a key competitive factor . additionally , efficient customer service , cost-effective logistics and focused working capital management are key factors in this segment 2019s profitability . distribution .
|in millions|2013|2012|2011|
|sales|$ 5650|$ 6040|$ 6630|
|operating profit|-389 ( 389 )|22|34|
distribution 2019s 2013 annual sales decreased 6% ( 6 % ) from 2012 , and decreased 15% ( 15 % ) from 2011 . operating profits in 2013 were a loss of $ 389 million ( a gain of $ 43 million excluding goodwill impairment charges and reorganization costs ) compared with $ 22 million ( $ 71 million excluding reorganization costs ) in 2012 and $ 34 million ( $ 86 million excluding reorganization costs ) in annual sales of printing papers and graphic arts supplies and equipment totaled $ 3.2 billion in 2013 compared with $ 3.5 billion in 2012 and $ 4.0 billion in 2011 reflecting declining demand and the discontinuation of a distribution agreement with a large manufacturer of graphic supplies . trade margins as a percent of sales for printing papers were down from both 2012 and 2011 . revenue from packaging products was flat at $ 1.6 billion in 2013 , 2012 and 2011 despite the significant decline of a large high-tech customer's business . packaging margins remained flat to the 2012 level , and up from 2011 . facility supplies annual revenue was $ 845 million in 2013 , down from $ 944 million in 2012 and $ 981 million in 2011 . operating profits in 2013 included a goodwill impairment charge of $ 400 million and reorganization costs for severance , professional services and asset write-downs of $ 32 million . operating profits in 2012 and 2011 included reorganization costs of $ 49 million and $ 52 million , respectively . looking ahead to the 2014 first quarter , operating profits will be seasonally lower , but will continue to reflect the benefits of strategic and other cost reduction initiatives. .
Question: what was the distribution profit margin 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: |
43247933.22 | Context:table of contents .
|assumptions used in monte carlo lattice pricing model|year ended december 31 , 2016|year ended december 31 , 2015|year ended december 31 , 2014|
|risk-free interest rate|1.0% ( 1.0 % )|1.1% ( 1.1 % )|0.7% ( 0.7 % )|
|expected dividend yield|2014% ( 2014 % )|2014% ( 2014 % )|2014% ( 2014 % )|
|expected volatility 2014ansys stock price|21% ( 21 % )|23% ( 23 % )|25% ( 25 % )|
|expected volatility 2014nasdaq composite index|16% ( 16 % )|14% ( 14 % )|15% ( 15 % )|
|expected term|2.8 years|2.8 years|2.8 years|
|correlation factor|0.65|0.60|0.70|
the company issued 35000 , 115485 and 39900 performance-based restricted stock awards during 2016 , 2015 and 2014 , respectively . of the cumulative performance-based restricted stock awards issued , defined operating metrics were assigned to 63462 , 51795 and 20667 awards with grant-date fair values of $ 84.61 , $ 86.38 and $ 81.52 during 2016 , 2015 and 2014 , respectively . the grant-date fair value of the awards is being recorded from the grant date through the conclusion of the measurement period associated with each operating metric based on management's estimates concerning the probability of vesting . as of december 31 , 2016 , 7625 units of the total 2014 awards granted were earned and will be issued in 2017 . total compensation expense associated with the awards recorded for the years ended december 31 , 2016 , 2015 and 2014 was $ 0.4 million , $ 0.4 million and $ 0.1 million , respectively . in addition , in 2016 , 2015 and 2014 , the company granted restricted stock units of 488622 , 344500 and 364150 , respectively , that will vest over a three- or four-year period with weighted-average grant-date fair values of $ 88.51 , $ 86.34 and $ 82.13 , respectively . during 2016 and 2015 , 162019 and 85713 shares vested and were released , respectively . as of december 31 , 2016 , 2015 and 2014 , 838327 , 571462 and 344750 units were outstanding , respectively . total compensation expense is being recorded over the service period and was $ 19.1 million , $ 12.5 million and $ 5.8 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively . in conjunction with a 2015 acquisition , ansys issued 68451 shares of replacement restricted stock with a weighted-average grant-date fair value of $ 90.48 . of the $ 6.2 million grant-date fair value , $ 3.5 million , related to partially vested awards , was recorded as non-cash purchase price consideration . the remaining fair value will be recognized as stock compensation expense through the conclusion of the service period . during the years ended december 31 , 2016 and 2015 , the company recorded $ 1.2 million and $ 0.6 million , respectively , of stock compensation expense related to these awards . in conjunction with a 2011 acquisition , the company granted performance-based restricted stock awards . vesting was determined based on the achievements of certain revenue and operating income targets of the entity post-acquisition . total compensation expense associated with the awards recorded for the year ended december 31 , 2014 was $ 4.7 million . the company has granted deferred stock awards to non-affiliate independent directors , which are rights to receive shares of common stock upon termination of service as a director . in 2015 and prior , the deferred stock awards were granted quarterly in arrears and vested immediately upon grant . associated with these awards , the company established a non-qualified 409 ( a ) deferred compensation plan with assets held under a rabbi trust to provide directors an opportunity to diversify their vested awards . during open trading windows and at their elective option , the directors may convert their company shares into a variety of non-company-stock investment options in order to diversify their holdings . as of december 31 , 2016 , 5000 shares have been diversified and 184099 undiversified deferred stock awards have vested with the underlying shares remaining unissued until the service termination of the respective director owners . in may 2016 , the company granted 38400 deferred stock awards which will vest in full on the one-year anniversary of the grant . total compensation expense associated with the awards recorded for the years ended december 31 , 2016 , 2015 and 2014 was $ 1.9 million , $ 4.0 million and $ 3.5 million , respectively. .
Question: what was the value of the restricted stock that the company granted 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: |
0.06524 | Context:expenses decreased to $ 23 million from $ 115 million in 2006 and $ 146 million in 2005 , reflecting the reduced level of operations . operating profits for the real estate division , which principally sells higher-and-better-use properties , were $ 32 million , $ 124 million and $ 198 million in 2007 , 2006 and 2005 , respectively . looking forward to 2008 , operating profits are expected to decline significantly , reflecting the reduced level of forestland holdings . operating earn- ings will primarily reflect the periodic sales of remaining acreage , and can be expected to vary from quarter to quarter depending on the timing of sale transactions . specialty businesses and other the specialty businesses and other segment princi- pally includes the operating results of the arizona chemical business as well as certain smaller busi- nesses . the arizona chemical business was sold in february 2007 . thus , operating results in 2007 reflect only two months of activity . specialty businesses and other in millions 2007 2006 2005 .
|in millions|2007|2006|2005|
|sales|$ 135|$ 935|$ 915|
|operating profit|$ 6|$ 61|$ 4|
liquidity and capital resources overview a major factor in international paper 2019s liquidity and capital resource planning is its generation of operat- ing cash flow , which is highly sensitive to changes in the pricing and demand for our major products . while changes in key cash operating costs , such as energy , raw material and transportation costs , do have an effect on operating cash generation , we believe that our strong focus on cost controls has improved our cash flow generation over an operat- ing cycle . as part of our continuing focus on improving our return on investment , we have focused our capital spending on improving our key paper and packaging businesses both globally and in north america . financing activities in 2007 continued the focus on the transformation plan objectives of returning value to shareholders through additional repurchases of common stock and strengthening the balance sheet through further reductions of management believes it is important for interna- tional paper to maintain an investment-grade credit rating to facilitate access to capital markets on favorable terms . at december 31 , 2007 , the com- pany 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 . cash provided by operations cash provided by continuing operations totaled $ 1.9 billion , compared with $ 1.0 billion for 2006 and $ 1.2 billion for 2005 . the 2006 amount is net of a $ 1.0 bil- lion voluntary cash pension plan contribution made in the fourth quarter of 2006 . the major components of cash provided by continuing operations are earn- ings from continuing operations adjusted for non-cash income and expense items and changes in working capital . earnings from continuing oper- ations , adjusted for non-cash items and excluding the pension contribution in 2006 , increased by $ 123 million in 2007 versus 2006 . this compared with an increase of $ 584 million for 2006 over 2005 . international paper 2019s investments in accounts receiv- able and inventory less accounts payable and accrued liabilities , totaled $ 1.7 billion at december 31 , 2007 . cash used for these working capital components increased by $ 539 million in 2007 , compared with a $ 354 million increase in 2006 and a $ 558 million increase in 2005 . investment activities investment activities in 2007 included the receipt of $ 1.7 billion of additional cash proceeds from divest- itures , and the use of $ 239 million for acquisitions and $ 578 million for an investment in a 50% ( 50 % ) equity interest in ilim holding s.a . in russia . capital spending from continuing operations was $ 1.3 billion in 2007 , or 119% ( 119 % ) of depreciation and amortization , comparable to $ 1.0 billion , or 87% ( 87 % ) of depreciation and amortization in 2006 , and $ 992 mil- lion , or 78% ( 78 % ) of depreciation and amortization in 2005 . the increase in 2007 reflects spending for the con- version of the pensacola paper machine to the pro- duction of linerboard , a fluff pulp project at our riegelwood mill , and a specialty pulp production project at our svetogorsk mill in russia , all of which were part of the company 2019s transformation plan. .
Question: what was the specialty business profit margin in 2006 | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.20422 | 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: what percentage of total commercial commitments are sale of receivables? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.76381 | Context:the agreements that govern the indebtedness incurred or assumed in connection with the acquisition contain various covenants that impose restrictions on us and certain of our subsidiaries that may affect our ability to operate our businesses . the agreements that govern the indebtedness incurred or assumed in connection with the carefusion transaction contain various affirmative and negative covenants that may , subject to certain significant exceptions , restrict our ability and the ability of certain of our subsidiaries ( including carefusion ) to , among other things , have liens on their property , transact business with affiliates and/or merge or consolidate with any other person or sell or convey certain of our assets to any one person . in addition , some of the agreements that govern our indebtedness contain financial covenants that will require us to maintain certain financial ratios . our ability and the ability of our subsidiaries to comply with these provisions may be affected by events beyond our control . failure to comply with these covenants could result in an event of default , which , if not cured or waived , could accelerate our repayment obligations . item 1b . unresolved staff comments . item 2 . properties . bd 2019s executive offices are located in franklin lakes , new jersey . as of october 31 , 2016 , bd owned or leased 255 facilities throughout the world , comprising approximately 19796011 square feet of manufacturing , warehousing , administrative and research facilities . the u.s . facilities , including those in puerto rico , comprise approximately 7459856 square feet of owned and 2923257 square feet of leased space . the international facilities comprise approximately 7189652 square feet of owned and 2223245 square feet of leased space . sales offices and distribution centers included in the total square footage are also located throughout the world . operations in each of bd 2019s business segments are conducted at both u.s . and international locations . particularly in the international marketplace , facilities often serve more than one business segment and are used for multiple purposes , such as administrative/sales , manufacturing and/or warehousing/distribution . bd generally seeks to own its manufacturing facilities , although some are leased . the following table summarizes property information by business segment. .
|sites|corporate|bd life sciences|bd medical|mixed ( a )|total|
|leased|11|19|75|92|195|
|owned|3|15|31|121|60|
|total|14|34|106|103|255|
|square feet|1425720|4337963|9891908|4140420|19796011|
( a ) facilities used by more than one business segment . bd believes that its facilities are of good construction and in good physical condition , are suitable and adequate for the operations conducted at those facilities , and are , with minor exceptions , fully utilized and operating at normal capacity . the u.s . facilities are located in alabama , arizona , california , connecticut , florida , georgia , illinois , indiana , maryland , massachusetts , michigan , nebraska , new jersey , north carolina , ohio , oklahoma , south carolina , texas , utah , virginia , washington , d.c. , washington , wisconsin and puerto rico . the international facilities are as follows : - europe , middle east , africa , which includes facilities in austria , belgium , bosnia and herzegovina , the czech republic , denmark , england , finland , france , germany , ghana , hungary , ireland , italy , kenya , luxembourg , netherlands , norway , poland , portugal , russia , saudi arabia , south africa , spain , sweden , switzerland , turkey , the united arab emirates and zambia. .
Question: what percentage of international facilities' square footage is from owned facilities?\\n | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
1.71685 | Context:10-k altria ar release tuesday , february 27 , 2018 10:00pm andra design llc performance stock units : in january 2017 , altria group , inc . granted an aggregate of 187886 performance stock units to eligible employees . the payout of the performance stock units requires the achievement of certain performance measures , which were predetermined at the time of grant , over a three-year performance cycle . these performance measures consist of altria group , inc . 2019s adjusted diluted earnings per share ( 201ceps 201d ) compounded annual growth rate and altria group , inc . 2019s total shareholder return relative to a predetermined peer group . the performance stock units are also subject to forfeiture if certain employment conditions are not met . at december 31 , 2017 , altria group , inc . had 170755 performance stock units remaining , with a weighted-average grant date fair value of $ 70.39 per performance stock unit . the fair value of the performance stock units at the date of grant , net of estimated forfeitures , is amortized to expense over the performance period . altria group , inc . recorded pre-tax compensation expense related to performance stock units for the year ended december 31 , 2017 of $ 6 million . the unamortized compensation expense related to altria group , inc . 2019s performance stock units was $ 7 million at december 31 , 2017 . altria group , inc . did not grant any performance stock units during 2016 and 2015 . note 12 . earnings per share basic and diluted eps were calculated using the following: .
|( in millions )|for the years ended december 31 , 2017|for the years ended december 31 , 2016|for the years ended december 31 , 2015|
|net earnings attributable to altria group inc .|$ 10222|$ 14239|$ 5241|
|less : distributed and undistributed earnings attributable to share-based awards|-14 ( 14 )|-24 ( 24 )|-10 ( 10 )|
|earnings for basic and diluted eps|$ 10208|$ 14215|$ 5231|
|weighted-average shares for basic and diluted eps|1921|1952|1961|
net earnings attributable to altria group , inc . $ 10222 $ 14239 $ 5241 less : distributed and undistributed earnings attributable to share-based awards ( 14 ) ( 24 ) ( 10 ) earnings for basic and diluted eps $ 10208 $ 14215 $ 5231 weighted-average shares for basic and diluted eps 1921 1952 1961 .
Question: what is the growth rate in net earnings attributable to altria group inc . 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: |
-4951.0 | Context:advance auto parts , inc . and subsidiaries notes to the consolidated financial statements december 28 , 2013 , december 29 , 2012 and december 31 , 2011 ( in thousands , except per share data ) in july 2012 , the fasb issued asu no . 2012-02 201cintangible-goodwill and other 2013 testing indefinite-lived intangible assets for impairment . 201d asu 2012-02 modifies the requirement to test intangible assets that are not subject to amortization based on events or changes in circumstances that might indicate that the asset is impaired now requiring the test only if it is more likely than not that the asset is impaired . furthermore , asu 2012-02 provides entities the option of performing a qualitative assessment to determine if it is more likely than not that the fair value of an intangible asset is less than the carrying amount as a basis for determining whether it is necessary to perform a quantitative impairment test . asu 2012-02 is effective for fiscal years beginning after september 15 , 2012 and early adoption is permitted . the adoption of asu 2012-02 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 both december 28 , 2013 and december 29 , 2012 . 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 2013 and prior years . the company recorded a reduction to cost of sales of $ 5572 and $ 24087 in fiscal 2013 and fiscal 2012 , respectively . the company 2019s overall costs to acquire inventory for the same or similar products have generally decreased historically as the company has been able to leverage its continued growth , execution of merchandise strategies and realization of supply chain efficiencies . in fiscal 2011 , the company recorded an increase to cost of sales of $ 24708 due to an increase in supply chain costs and inflationary pressures affecting certain product categories . 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 ( 201cfifo 201d ) method . product cores are included as part of the company 2019s 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 2019s 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 as of december 28 , 2013 and december 29 , 2012 , were $ 161519 and $ 134258 , respectively . inventory balance and inventory reserves inventory balances at the end of fiscal 2013 and 2012 were as follows : december 28 , december 29 .
||december 282013|december 292012|
|inventories at fifo net|$ 2424795|$ 2182419|
|adjustments to state inventories at lifo|131762|126190|
|inventories at lifo net|$ 2556557|$ 2308609|
inventory quantities are tracked through a perpetual inventory system . the company completes physical inventories and other targeted inventory counts in its store locations to ensure the accuracy of the perpetual inventory quantities of both merchandise and core inventory in these locations . in its distribution centers and pdq aes , the company uses a cycle counting program to ensure the accuracy of the perpetual inventory quantities of both merchandise and product core inventory . reserves for estimated shrink are established based on the results of physical inventories conducted by the company with the assistance of an independent third party in substantially all of the company 2019s stores over the course of the year , other targeted inventory counts in its stores , results from recent cycle counts in its distribution facilities and historical and current loss trends. .
Question: what was the total reduction to cost of sales from 2011 to 2013? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.28458 | Context:bhge 2018 form 10-k | 41 estimate would equal up to 5% ( 5 % ) of annual revenue . the expenditures are expected to be used primarily for normal , recurring items necessary to support our business . we also anticipate making income tax payments in the range of $ 425 million to $ 475 million in 2019 . contractual obligations in the table below , we set forth our contractual obligations as of december 31 , 2018 . certain amounts included in this table are based on our estimates and assumptions about these obligations , including their duration , anticipated actions by third parties and other factors . the contractual obligations we will actually pay in future periods may vary from those reflected in the table because the estimates and assumptions are subjective. .
|( in millions )|payments due by period total|payments due by period less than1 year|payments due by period 1 - 3years|payments due by period 4 - 5years|payments due by period more than5 years|
|total debt and capital lease obligations ( 1 )|$ 6989|$ 942|$ 562|$ 1272|$ 4213|
|estimated interest payments ( 2 )|3716|239|473|404|2600|
|operating leases ( 3 )|846|186|262|132|266|
|purchase obligations ( 4 )|1507|1388|86|25|8|
|total|$ 13058|$ 2755|$ 1383|$ 1833|$ 7087|
( 1 ) amounts represent the expected cash payments for the principal amounts related to our debt , including capital lease obligations . amounts for debt do not include any deferred issuance costs or unamortized discounts or premiums including step up in the value of the debt on the acquisition of baker hughes . expected cash payments for interest are excluded from these amounts . total debt and capital lease obligations includes $ 896 million payable to ge and its affiliates . as there is no fixed payment schedule on the amount payable to ge and its affiliates we have classified it as payable in less than one year . ( 2 ) amounts represent the expected cash payments for interest on our long-term debt and capital lease obligations . ( 3 ) amounts represent the future minimum payments under noncancelable operating leases with initial or remaining terms of one year or more . we enter into operating leases , some of which include renewal options , however , we have excluded renewal options from the table above unless it is anticipated that we will exercise such renewals . ( 4 ) purchase obligations include expenditures for capital assets for 2019 as well as 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 provisions ; and the approximate timing of the transaction . due to the uncertainty with respect to the timing of potential future cash outflows associated with our uncertain tax positions , we are unable to make reasonable estimates of the period of cash settlement , if any , to the respective taxing authorities . therefore , $ 597 million in uncertain tax positions , including interest and penalties , have been excluded from the contractual obligations table above . see "note 12 . income taxes" of the notes to consolidated and combined financial statements in item 8 herein for further information . we have certain defined benefit pension and other post-retirement benefit plans covering certain of our u.s . and international employees . during 2018 , we made contributions and paid direct benefits of approximately $ 72 million in connection with those plans , and we anticipate funding approximately $ 41 million during 2019 . amounts for pension funding obligations are based on assumptions that are subject to change , therefore , we are currently not able to reasonably estimate our contribution figures after 2019 . see "note 11 . employee benefit plans" of the notes to consolidated and combined financial statements in item 8 herein for further information . off-balance sheet arrangements in the normal course of business with customers , vendors and others , we have entered into off-balance sheet arrangements , such as surety bonds for performance , letters of credit and other bank issued guarantees , which totaled approximately $ 3.6 billion at december 31 , 2018 . it is not practicable to estimate the fair value of these financial instruments . none of the off-balance sheet arrangements either has , or is likely to have , a material effect on our consolidated and combined financial statements. .
Question: what portion of total contractual obligations is expected to be paid as interest 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: |
0.06217 | Context:debt maturities 2013 the following table presents aggregate debt maturities as of december 31 , 2008 , excluding market value adjustments . millions of dollars .
|2009|$ 720|
|2010|465|
|2011|555|
|2012|746|
|2013|713|
|thereafter|5728|
|total debt|$ 8927|
as of december 31 , 2008 , we have reclassified as long-term debt approximately $ 400 million of debt due within one year that we intend to refinance . this reclassification reflects our ability and intent to refinance any short-term borrowings and certain current maturities of long-term debt on a long-term basis . at december 31 , 2007 , we reclassified as long-term debt approximately $ 550 million of debt due within one year that we intended to refinance at that time . mortgaged properties 2013 equipment with a carrying value of approximately $ 2.7 billion and $ 2.8 billion at december 31 , 2008 and 2007 , respectively , serves as collateral for capital leases and other types of equipment obligations in accordance with the secured financing arrangements utilized to acquire such railroad equipment . as a result of the merger of missouri pacific railroad company ( mprr ) with and into uprr on january 1 , 1997 , and pursuant to the underlying indentures for the mprr mortgage bonds , uprr must maintain the same value of assets after the merger in order to comply with the security requirements of the mortgage bonds . as of the merger date , the value of the mprr assets that secured the mortgage bonds was approximately $ 6.0 billion . in accordance with the terms of the indentures , this collateral value must be maintained during the entire term of the mortgage bonds irrespective of the outstanding balance of such bonds . credit facilities 2013 on december 31 , 2008 , we had $ 1.9 billion of credit available under our revolving credit facility ( the facility ) . the facility is designated for general corporate purposes and supports the issuance of commercial paper . we did not draw on the facility during 2008 . commitment fees and interest rates payable under the facility are similar to fees and rates available to comparably rated , investment- grade borrowers . the facility allows borrowings at floating rates based on london interbank offered rates , plus a spread , depending upon our senior unsecured debt ratings . the facility requires union pacific corporation to maintain a debt-to-net-worth coverage ratio as a condition to making a borrowing . at december 31 , 2008 , and december 31 , 2007 ( and at all times during these periods ) , we were in compliance with this covenant . the definition of debt used for purposes of calculating the debt-to-net-worth coverage ratio includes , among other things , certain credit arrangements , capital leases , guarantees and unfunded and vested pension benefits under title iv of erisa . at december 31 , 2008 , the debt-to-net-worth coverage ratio allowed us to carry up to $ 30.9 billion of debt ( as defined in the facility ) , and we had $ 9.9 billion of debt ( as defined in the facility ) outstanding at that date . under our current capital plans , we expect to continue to satisfy the debt-to-net-worth coverage ratio ; however , many factors beyond our reasonable control ( including the risk factors in item 1a of this report ) could affect our ability to comply with this provision in the future . the facility does not include any other financial restrictions , credit rating triggers ( other than rating-dependent pricing ) , or any other provision that could require us to post collateral . the .
Question: what percentage of total aggregate debt maturities as of december 31 , 2008 are due in 20111? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.01532 | 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 . althoughmany 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 . 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 2015 equity aum totaled $ 2.424 trillion , reflecting net inflows of $ 52.8 billion . net inflows included $ 78.4 billion and $ 4.2 billion into ishares and active products , respectively . ishares net inflows were driven by the core series and flows into broad developed market equity exposures , and active net inflows reflected demand for international equities . ishares and active net inflows were partially offset by non-etf index net outflows of $ 29.8 billion . blackrock 2019s effective fee rates fluctuate due to changes in aummix . 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 do not consistently move in tandemwith u.s . markets , may have a greater impact on blackrock 2019s effective equity fee rates and revenues . fixed income fixed income aum ended 2015 at $ 1.422 trillion , increasing $ 28.7 billion , or 2% ( 2 % ) , from december 31 , 2014 . the increase in aum reflected $ 76.9 billion in net inflows , partially offset by $ 48.2 billion in net market depreciation and foreign exchange movements . in 2015 , active net inflows of $ 35.9 billion were diversified across fixed income offerings , with strong flows into our unconstrained , total return and high yield strategies . flagship funds in these product areas include our unconstrained strategic income opportunities and fixed income strategies funds , with net inflows of $ 7.0 billion and $ 3.7 billion , respectively ; our total return fund with net inflows of $ 2.7 billion ; and our high yield bond fund with net inflows of $ 3.5 billion . fixed income ishares net inflows of $ 50.3 billion were led by flows into core , corporate and high yield bond funds . active and ishares net inflows were partially offset by non-etf index net outflows of $ 9.3 billion . multi-asset class blackrock 2019s multi-asset class teammanages 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 class aum for 2015 are presented below . ( in millions ) december 31 , 2014 net inflows ( outflows ) acquisition ( 1 ) market change fx impact december 31 , 2015 asset allocation and balanced $ 183032 $ 12926 $ 2014 $ ( 6731 ) $ ( 3391 ) $ 185836 .
|( in millions )|december 312014|net inflows ( outflows )|acquisition ( 1 )|market change|fx impact|december 312015|
|asset allocation and balanced|$ 183032|$ 12926|$ 2014|$ -6731 ( 6731 )|$ -3391 ( 3391 )|$ 185836|
|target date/risk|128611|218|2014|-1308 ( 1308 )|-1857 ( 1857 )|125664|
|fiduciary|66194|3985|2014|627|-6373 ( 6373 )|64433|
|futureadvisor|2014|38|366|-1 ( 1 )|2014|403|
|multi-asset|$ 377837|$ 17167|$ 366|$ -7413 ( 7413 )|$ -11621 ( 11621 )|$ 376336|
( 1 ) amounts represent $ 366 million of aum acquired in the futureadvisor acquisition in october 2015 . the futureadvisor acquisition amount does not include aum that was held in ishares holdings . multi-asset class net inflows reflected ongoing institutional demand for our solutions-based advice with $ 17.4 billion of net inflows coming from institutional clients . defined contribution plans of institutional clients remained a significant driver of flows , and contributed $ 7.3 billion to institutional multi-asset class net new business in 2015 , primarily into target date and target risk product offerings . retail net outflows of $ 1.3 billion were primarily due to a large single-client transition out of mutual funds into a series of ishares across asset classes . notwithstanding this transition , retail flows reflected demand for our multi-asset income fund family , which raised $ 4.6 billion in 2015 . the company 2019s multi-asset class strategies include the following : 2022 asset allocation and balanced products represented 49% ( 49 % ) of multi-asset class aum at year-end , with growth in aum driven by net new business of $ 12.9 billion . 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 andmulti-asset income suites. .
Question: what is the growth rate in the balance of asset allocation from 2014 to 2015? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.73443 | Context:wood products sales in the united states in 2005 of $ 1.6 billion were up 3% ( 3 % ) from $ 1.5 billion in 2004 and 18% ( 18 % ) from $ 1.3 billion in 2003 . average price realiza- tions for lumber were up 6% ( 6 % ) and 21% ( 21 % ) in 2005 compared with 2004 and 2003 , respectively . lumber sales volumes in 2005 were up 5% ( 5 % ) versus 2004 and 10% ( 10 % ) versus 2003 . average sales prices for plywood were down 4% ( 4 % ) from 2004 , but were 15% ( 15 % ) higher than in 2003 . plywood sales volumes in 2005 were slightly higher than 2004 and 2003 . operating profits in 2005 were 18% ( 18 % ) lower than 2004 , but nearly three times higher than 2003 . lower average plywood prices and higher raw material costs more than offset the effects of higher average lumber prices , volume increases and a positive sales mix . in 2005 , log costs were up 9% ( 9 % ) versus 2004 , negatively im- pacting both plywood and lumber profits . lumber and plywood operating costs also reflected substantially higher glue and natural gas costs versus both 2004 and looking forward to the first quarter of 2006 , a con- tinued strong housing market , combined with low prod- uct inventory in the distribution chain , should translate into continued strong lumber and plywood demand . however , a possible softening of housing starts and higher interest rates later in the year could put down- ward pressure on pricing in the second half of 2006 . specialty businesses and other the specialty businesses and other segment in- cludes the operating results of arizona chemical , euro- pean distribution and , prior to its closure in 2003 , our natchez , mississippi chemical cellulose pulp mill . also included are certain divested businesses whose results are included in this segment for periods prior to their sale or closure . this segment 2019s 2005 net sales declined 18% ( 18 % ) and 26% ( 26 % ) from 2004 and 2003 , respectively . operating profits in 2005 were down substantially from both 2004 and 2003 . the decline in sales principally reflects declining contributions from businesses sold or closed . operating profits were also affected by higher energy and raw material costs in our chemical business . specialty businesses and other in millions 2005 2004 2003 .
|in millions|2005|2004|2003|
|sales|$ 915|$ 1120|$ 1235|
|operating profit|$ 4|$ 38|$ 23|
chemicals sales were $ 692 million in 2005 , com- pared with $ 672 million in 2004 and $ 625 million in 2003 . although demand was strong for most arizona chemical product lines , operating profits in 2005 were 84% ( 84 % ) and 83% ( 83 % ) lower than in 2004 and 2003 , re- spectively , due to higher energy costs in the u.s. , and higher prices and reduced availability for crude tall oil ( cto ) . in the united states , energy costs increased 41% ( 41 % ) compared to 2004 due to higher natural gas prices and supply interruption costs . cto prices increased 26% ( 26 % ) compared to 2004 , as certain energy users turned to cto as a substitute fuel for high-cost alternative energy sources such as natural gas and fuel oil . european cto receipts decreased 30% ( 30 % ) compared to 2004 due to lower yields following the finnish paper industry strike and a swedish storm that limited cto throughput and corre- sponding sales volumes . other businesses in this operating segment include operations that have been sold , closed , or are held for sale , principally the european distribution business , the oil and gas and mineral royalty business , decorative products , retail packaging , and the natchez chemical cellulose pulp mill . sales for these businesses were ap- proximately $ 223 million in 2005 ( mainly european distribution and decorative products ) compared with $ 448 million in 2004 ( mainly european distribution and decorative products ) , and $ 610 million in 2003 . liquidity and capital resources overview a major factor in international paper 2019s liquidity and capital resource planning is its generation of operat- ing cash flow , which is highly sensitive to changes in the pricing and demand for our major products . while changes in key cash operating costs , such as energy and raw material costs , do have an effect on operating cash generation , we believe that our strong focus on cost controls has improved our cash flow generation over an operating cycle . as a result , we believe that we are well positioned for improvements in operating cash flow should prices and worldwide economic conditions im- prove in the future . as part of our continuing focus on improving our return on investment , we have focused our capital spending on improving our key platform businesses in north america and in geographic areas with strong growth opportunities . spending levels have been kept below the level of depreciation and amortization charges for each of the last three years , and we anticipate con- tinuing this approach in 2006 . with the low interest rate environment in 2005 , financing activities have focused largely on the repay- ment or refinancing of higher coupon debt , resulting in a net reduction in debt of approximately $ 1.7 billion in 2005 . we plan to continue this program , with addi- tional reductions anticipated as our previously an- nounced transformation plan progresses in 2006 . our liquidity position continues to be strong , with approx- imately $ 3.2 billion of committed liquidity to cover fu- ture short-term cash flow requirements not met by operating cash flows. .
Question: what was the ratio total amount of proceeds from the sales of business entities for european distribution and decorative products in 2004 to 2003 | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.55987 | Context:although many clients use both active and passive strategies , the application of these strategies differs greatly . for example , clients may use index products to gain exposure to a market or asset class pending reallocation to an active manager . this has the effect of increasing turnover of index aum . in addition , institutional non-etp 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 2012 equity aum of $ 1.845 trillion increased by $ 285.4 billion , or 18% ( 18 % ) , from the end of 2011 , largely due to flows into regional , country-specific and global mandates and the effect of higher market valuations . equity aum growth included $ 54.0 billion in net new business and $ 3.6 billion in new assets related to the acquisition of claymore . net new business of $ 54.0 billion was driven by net inflows of $ 53.0 billion and $ 19.1 billion into ishares and non-etp index accounts , respectively . passive inflows were offset by active net outflows of $ 18.1 billion , with net outflows of $ 10.0 billion and $ 8.1 billion from fundamental and scientific active equity products , respectively . passive strategies represented 84% ( 84 % ) of equity aum with the remaining 16% ( 16 % ) in active mandates . institutional investors represented 62% ( 62 % ) of equity aum , while ishares , and retail and hnw represented 29% ( 29 % ) and 9% ( 9 % ) , respectively . at year-end 2012 , 63% ( 63 % ) of equity aum was managed for clients in the americas ( defined as the united states , caribbean , canada , latin america and iberia ) compared with 28% ( 28 % ) and 9% ( 9 % ) managed for clients in emea and asia-pacific , 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 similar u.s . equity strategies . accordingly , fluctuations in international equity markets , which do not consistently move in tandem with u.s . markets , may have a greater impact on blackrock 2019s effective equity fee rates and revenues . fixed income fixed income aum ended 2012 at $ 1.259 trillion , rising $ 11.6 billion , or 1% ( 1 % ) , relative to december 31 , 2011 . growth in aum reflected $ 43.3 billion in net new business , excluding the two large previously mentioned low-fee outflows , $ 75.4 billion in market and foreign exchange gains and $ 3.0 billion in new assets related to claymore . net new business was led by flows into domestic specialty and global bond mandates , with net inflows of $ 28.8 billion , $ 13.6 billion and $ 3.1 billion into ishares , non-etp index and model-based products , respectively , partially offset by net outflows of $ 2.2 billion from fundamental strategies . fixed income aum was split between passive and active strategies with 48% ( 48 % ) and 52% ( 52 % ) , respectively . institutional investors represented 74% ( 74 % ) of fixed income aum while ishares and retail and hnw represented 15% ( 15 % ) and 11% ( 11 % ) , respectively . at year-end 2012 , 59% ( 59 % ) of fixed income aum was managed for clients in the americas compared with 33% ( 33 % ) and 8% ( 8 % ) managed for clients in emea and asia- pacific , respectively . multi-asset class component changes in multi-asset class aum ( dollar amounts in millions ) 12/31/2011 net new business acquired market /fx app ( dep ) 12/31/2012 .
|( dollar amounts in millions )|12/31/2011|net new business|net acquired|market /fx app ( dep )|12/31/2012|
|asset allocation|$ 126067|$ 1575|$ 78|$ 12440|$ 140160|
|target date/risk|49063|14526|2014|6295|69884|
|fiduciary|50040|-284 ( 284 )|2014|7948|57704|
|multi-asset|$ 225170|$ 15817|$ 78|$ 26683|$ 267748|
multi-asset class aum totaled $ 267.7 billion at year-end 2012 , up 19% ( 19 % ) , or $ 42.6 billion , reflecting $ 15.8 billion in net new business and $ 26.7 billion in portfolio valuation gains . blackrock 2019s multi-asset class team manages a variety of bespoke mandates for a diversified client base that leverages our broad investment expertise in global equities , currencies , bonds 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 . at december 31 , 2012 , institutional investors represented 66% ( 66 % ) of multi-asset class aum , while retail and hnw accounted for the remaining aum . additionally , 58% ( 58 % ) of multi-asset class aum is managed for clients based in the americas with 37% ( 37 % ) and 5% ( 5 % ) managed for clients in emea and asia-pacific , respectively . flows reflected ongoing institutional demand for our advice in an increasingly .
Question: what portion of the total multi-assets is related to asset allocation as of december 31 , 2011? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.83648 | Context:included in other non-current liabilities , because the company believes that the ultimate payment or settlement of these liabilities will not occur within the next twelve months . prior to the adoption of these provisions , these amounts were included in current income tax payable . the company includes interest and penalties related to unrecognized tax benefits within the provision for taxes in the condensed consolidated statements of income , and as a result , no change in classification was made upon adopting these provisions . the condensed consolidated statements of income for fiscal year 2009 and fiscal year 2008 include $ 1.7 million and $ 1.3 million , respectively , of interest and penalties related to these uncertain tax positions . due to the complexity associated with its tax uncertainties , the company cannot make a reasonably reliable estimate as to the period in which it expects to settle the liabilities associated with these uncertain tax positions . the following table summarizes the changes in the total amounts of uncertain tax positions for fiscal 2008 and fiscal 2009. .
|balance november 3 2007|$ 9889|
|additions for tax positions of current year|3861|
|balance november 1 2008|13750|
|additions for tax positions of current year|4411|
|balance october 31 2009|$ 18161|
fiscal year 2004 and 2005 irs examination during the fourth quarter of fiscal 2007 , the irs completed its field examination of the company 2019s fiscal years 2004 and 2005 . on january 2 , 2008 , the irs issued its report for fiscal 2004 and 2005 , which included proposed adjustments related to these two fiscal years . the company has recorded taxes and penalties related to certain of these proposed adjustments . there are four items with an additional potential total tax liability of $ 46 million . the company has concluded , based on discussions with its tax advisors , that these four items are not likely to result in any additional tax liability . therefore , the company has not recorded any additional tax liability for these items and is appealing these proposed adjustments through the normal processes for the resolution of differences between the irs and taxpayers . the company 2019s initial meetings with the appellate division of the irs were held during fiscal year 2009 . two of the unresolved matters are one-time issues and pertain to section 965 of the internal revenue code related to the beneficial tax treatment of dividends from foreign owned companies under the american jobs creation act . the other matters pertain to the computation of research and development ( r&d ) tax credits and the profits earned from manufacturing activities carried on outside the united states . these latter two matters could impact taxes payable for fiscal 2004 and 2005 as well as for subsequent years . fiscal year 2006 and 2007 irs examination during the third quarter of fiscal 2009 , the irs completed its field examination of the company 2019s fiscal years 2006 and 2007 . the irs and the company have agreed on the treatment of a number of issues that have been included in an issue resolutions agreement related to the 2006 and 2007 tax returns . however , no agreement was reached on the tax treatment of a number of issues , including the same r&d credit and foreign manufacturing issues mentioned above related to fiscal 2004 and 2005 , the pricing of intercompany sales ( transfer pricing ) , and the deductibility of certain stock option compensation expenses . during the third quarter of fiscal 2009 , the irs issued its report for fiscal 2006 and fiscal 2007 , which included proposed adjustments related to these two fiscal years . the company has recorded taxes and penalties related to certain of these proposed adjustments . there are four items with an additional potential total tax liability of $ 195 million . the company concluded , based on discussions with its tax advisors , that these four items are not likely to result in any additional tax liability . therefore , the company has not recorded any additional tax liability for these items and is appealing these proposed adjustments through the normal processes for the resolution of differences between the irs and taxpayers . with the exception of the analog devices , inc . notes to consolidated financial statements 2014 ( continued ) .
Question: what percentage did the balance increase from 2007 to 2009? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.10941 | Context:management 2019s discussion and analysis action antitrust legal settlement . net income for 2005 and 2004 included an aftertax charge of $ 13 million , or 8 cents a share , and $ 19 million , or 11 cents a share , respectively , to reflect the net increase in the current value of the company 2019s obligation under the ppg settlement arrangement relating to asbestos claims . results of business segments net sales operating income ( millions ) 2005 2004 2005 2004 .
|( millions )|net sales 2005|net sales 2004|net sales 2005|2004|
|coatings|$ 5566|$ 5275|$ 609|$ 777|
|glass|2237|2204|56|169|
|chemicals|2398|2034|451|291|
coatings sales increased $ 291 million or 5% ( 5 % ) in 2005 . sales increased 3% ( 3 % ) due to higher selling prices across all businesses except automotive ; 1% ( 1 % ) due to improved volumes as increases in our aerospace , architectural and original equipment automotive businesses offset volume declines in automotive refinish and industrial coatings ; and 1% ( 1 % ) due to the positive effects of foreign currency translation . operating income decreased $ 168 million in 2005 . the adverse impact of inflation totaled $ 315 million , of which $ 245 million was attributable to higher raw material costs . higher year-over-year selling prices increased operating earnings by $ 169 million . coatings operating earnings were reduced by the $ 132 million charge for the cost of the marvin legal settlement net of insurance recoveries . other factors increasing coatings operating income in 2005 were the increased sales volumes described above , manufacturing efficiencies , formula cost reductions and higher other income . glass sales increased $ 33 million or 1% ( 1 % ) in 2005 . sales increased 1% ( 1 % ) due to improved volumes as increases in our automotive replacement glass , insurance and services and performance glazings ( flat glass ) businesses offset volume declines in our fiber glass and automotive original equipment glass businesses . the positive effects of foreign currency translation were largely offset by lower selling prices primarily in our automotive replacement glass and automotive original equipment businesses . operating income decreased $ 113 million in 2005 . the federal glass class action antitrust legal settlement of $ 61 million , the $ 49 million impact of rising natural gas costs and the absence of the $ 19 million gain in 2004 from the sale/ leaseback of precious metal combined to account for a reduction in operating earnings of $ 129 million . the remaining year-over-year increase in glass operating earnings of $ 16 million resulted primarily from improved manufacturing efficiencies and lower overhead costs exceeding the adverse impact of other inflation . our continuing efforts in 2005 to position the fiber glass business for future growth in profitability were adversely impacted by the rise in fourth quarter natural gas prices , slightly lower year-over-year sales , lower equity earnings due to weaker pricing in the asian electronics market , and the absence of the $ 19 million gain which occurred in 2004 stemming from the sale/ leaseback of precious metals . despite high energy costs , we expect fiber glass earnings to improve in 2006 because of price strengthening in the asian electronics market , which began to occur in the fourth quarter of 2005 , increased cost reduction initiatives and the positive impact resulting from the start up of our new joint venture in china . this joint venture will produce high labor content fiber glass reinforcement products and take advantage of lower labor costs , allowing us to refocus our u.s . production capacity on higher margin direct process products . the 2005 operating earnings of our north american automotive oem glass business declined by $ 30 million compared with 2004 . significant structural changes continue to occur in the north american automotive industry , including the loss of u.s . market share by general motors and ford . this has created a very challenging and competitive environment for all suppliers to the domestic oems , including our business . about half of the decline in earnings resulted from the impact of rising natural gas costs , particularly in the fourth quarter , combined with the traditional adverse impact of year-over-year sales price reductions producing a decline in earnings that exceeded our successful efforts to reduce manufacturing costs . the other half of the 2005 decline was due to lower sales volumes and mix and higher new program launch costs . the challenging competitive environment and high energy prices will continue in 2006 . our business is working in 2006 to improve its performance through increased manufacturing efficiencies , structural cost reduction initiatives , focusing on profitable growth opportunities and improving our sales mix . chemicals sales increased $ 364 million or 18% ( 18 % ) in 2005 . sales increased 21% ( 21 % ) due to higher selling prices , primarily for chlor-alkali products , and 1% ( 1 % ) due to the combination of an acquisition in our optical products business and the positive effects of foreign currency translation . total volumes declined 4% ( 4 % ) as volume increases in optical products were more than offset by volume declines in chlor-alkali and fine chemicals . volume in chlor-alkali products and silicas were adversely impacted in the third and fourth quarters by the hurricanes . operating income increased $ 160 million in 2005 . the primary factor increasing operating income was the record high selling prices in chlor-alkali . factors decreasing operating income were higher inflation , including $ 136 million due to increased energy and ethylene costs ; $ 34 million of direct costs related to the impact of the hurricanes ; $ 27 million due to the asset impairment charge related to our fine chemicals business ; lower sales volumes ; higher manufacturing costs and increased environmental expenses . the increase in chemicals operating earnings occurred primarily through the first eight months of 2005 . the hurricanes hit in september impacting volumes and costs in september through november and contributing to the rise in natural gas prices which lowered fourth quarter chemicals earnings by $ 58 million , almost 57% ( 57 % ) of the full year impact of higher natural gas prices . the damage caused by hurricane rita resulted in the shutdown of our lake charles , la chemical plant for a total of eight days in september and an additional five 18 2005 ppg annual report and form 10-k .
Question: what was the operating margin for the coatings segment in 2005? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-988.0 | Context:32 | bhge 2018 form 10-k baker hughes rig count the baker hughes rig counts are an important business barometer for the drilling industry and its suppliers . when drilling rigs are active they consume products and services produced by the oil service industry . rig count trends are driven by the exploration and development spending by oil and natural gas companies , which in turn is influenced by current and future price expectations for oil and natural gas . the counts may reflect the relative strength and stability of energy prices and overall market activity , however , these counts should not be solely relied on as other specific and pervasive conditions may exist that affect overall energy prices and market activity . we have been providing rig counts to the public since 1944 . we gather all relevant data through our field service personnel , who obtain the necessary data from routine visits to the various rigs , customers , contractors and other outside sources as necessary . we base the classification of a well as either oil or natural gas primarily upon filings made by operators in the relevant jurisdiction . this data is then compiled and distributed to various wire services and trade associations and is published on our website . we believe the counting process and resulting data is reliable , however , it is subject to our ability to obtain accurate and timely information . rig counts are compiled weekly for the u.s . and canada and monthly for all international rigs . published international rig counts do not include rigs drilling in certain locations , such as russia , the caspian region and onshore china because this information is not readily available . rigs in the u.s . and canada are counted as active if , on the day the count is taken , the well being drilled has been started but drilling has not been completed and the well is anticipated to be of sufficient depth to be a potential consumer of our drill bits . in international areas , rigs are counted on a weekly basis and deemed active if drilling activities occurred during the majority of the week . the weekly results are then averaged for the month and published accordingly . the rig count does not include rigs that are in transit from one location to another , rigging up , being used in non-drilling activities including production testing , completion and workover , and are not expected to be significant consumers of drill bits . the rig counts are summarized in the table below as averages for each of the periods indicated. .
||2018|2017|2016|
|north america|1223|1082|642|
|international|988|948|956|
|worldwide|2211|2030|1598|
2018 compared to 2017 overall the rig count was 2211 in 2018 , an increase of 9% ( 9 % ) as compared to 2017 due primarily to north american activity . the rig count in north america increased 13% ( 13 % ) in 2018 compared to 2017 . internationally , the rig count increased 4% ( 4 % ) in 2018 as compared to the same period last year . within north america , the increase was primarily driven by the u.s . rig count , which was up 18% ( 18 % ) on average versus 2017 , partially offset with a decrease in the canadian rig count , which was down 8% ( 8 % ) on average . internationally , the improvement in the rig count was driven primarily by increases in the africa region of 18% ( 18 % ) , the asia-pacific region and latin america region , were also up by 9% ( 9 % ) and 3% ( 3 % ) , respectively , partially offset by the europe region , which was down 8% ( 8 % ) . 2017 compared to 2016 overall the rig count was 2030 in 2017 , an increase of 27% ( 27 % ) as compared to 2016 due primarily to north american activity . the rig count in north america increased 69% ( 69 % ) in 2017 compared to 2016 . internationally , the rig count decreased 1% ( 1 % ) in 2017 as compared to the same period last year . within north america , the increase was primarily driven by the land rig count , which was up 72% ( 72 % ) , partially offset by a decrease in the offshore rig count of 16% ( 16 % ) . internationally , the rig count decrease was driven primarily by decreases in latin america of 7% ( 7 % ) , the europe region and africa region , which were down by 4% ( 4 % ) and 2% ( 2 % ) , respectively , partially offset by the asia-pacific region , which was up 8%. .
Question: what portion of total rig count is in north america in 2018? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.01515 | Context:part a0iii item a010 . directors , executive officers and corporate governance for the information required by this item a010 with respect to our executive officers , see part a0i , item 1 . of this report . for the other information required by this item a010 , see 201celection of directors , 201d 201cnominees for election to the board of directors , 201d 201ccorporate governance 201d and 201csection a016 ( a ) beneficial ownership reporting compliance , 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference . the proxy statement for our 2019 annual meeting will be filed within 120 a0days after the end of the fiscal year covered by this annual report on form 10-k . item a011 . executive compensation for the information required by this item a011 , see 201ccompensation discussion and analysis , 201d 201ccompensation committee report , 201d and 201cexecutive compensation 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference . item a012 . security ownership of certain beneficial owners and management and related stockholder matters for the information required by this item a012 with respect to beneficial ownership of our common stock , see 201csecurity ownership of certain beneficial owners and management 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference . the following table sets forth certain information as of december a031 , 2018 regarding our equity plans : 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 number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ( b ) ( c ) equity compensation plans approved by security holders 1471449 $ 136.62 3578241 ( 1 ) the number of securities in column ( a ) include 22290 shares of common stock underlying performance stock units if maximum performance levels are achieved ; the actual number of shares , if any , to be issued with respect to the performance stock units will be based on performance with respect to specified financial and relative stock price measures . item a013 . certain relationships and related transactions , and director independence for the information required by this item a013 , see 201ccertain transactions 201d and 201ccorporate governance 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference . item a014 . principal accounting fees and services for the information required by this item a014 , see 201caudit and non-audit fees 201d and 201caudit committee pre-approval procedures 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference. .
|plan category|number of securitiesto be issued uponexercise ofoutstanding options warrants and rights ( 1 ) ( a ) ( b )|weighted-averageexercise price ofoutstanding options warrants and rights|number of securitiesremaining available forfuture issuance underequity compensationplans ( excludingsecurities reflected in column ( a ) ) ( c )|
|equity compensation plans approved by security holders|1471449|$ 136.62|3578241|
part a0iii item a010 . directors , executive officers and corporate governance for the information required by this item a010 with respect to our executive officers , see part a0i , item 1 . of this report . for the other information required by this item a010 , see 201celection of directors , 201d 201cnominees for election to the board of directors , 201d 201ccorporate governance 201d and 201csection a016 ( a ) beneficial ownership reporting compliance , 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference . the proxy statement for our 2019 annual meeting will be filed within 120 a0days after the end of the fiscal year covered by this annual report on form 10-k . item a011 . executive compensation for the information required by this item a011 , see 201ccompensation discussion and analysis , 201d 201ccompensation committee report , 201d and 201cexecutive compensation 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference . item a012 . security ownership of certain beneficial owners and management and related stockholder matters for the information required by this item a012 with respect to beneficial ownership of our common stock , see 201csecurity ownership of certain beneficial owners and management 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference . the following table sets forth certain information as of december a031 , 2018 regarding our equity plans : 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 number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ( b ) ( c ) equity compensation plans approved by security holders 1471449 $ 136.62 3578241 ( 1 ) the number of securities in column ( a ) include 22290 shares of common stock underlying performance stock units if maximum performance levels are achieved ; the actual number of shares , if any , to be issued with respect to the performance stock units will be based on performance with respect to specified financial and relative stock price measures . item a013 . certain relationships and related transactions , and director independence for the information required by this item a013 , see 201ccertain transactions 201d and 201ccorporate governance 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference . item a014 . principal accounting fees and services for the information required by this item a014 , see 201caudit and non-audit fees 201d and 201caudit committee pre-approval procedures 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference. .
Question: what percentage of securities to be issued upon exercise are shares of common stock underlying performance stock units if maximum performance levels are achieved? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.31451 | 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 , 2012 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 2017 , we repurchased 37122405 shares of our common stock at an average price of $ 110.50 . the following table presents common stock repurchases during each month for the fourth quarter of 2017 : 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|3831636|$ 113.61|3800000|89078662|
|nov . 1 through nov . 30|3005225|117.07|2937410|86141252|
|dec . 1 through dec . 31|2718319|130.76|2494100|83647152|
|total|9555180|$ 119.58|9231510|n/a|
[a] total number of shares purchased during the quarter includes approximately 323670 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 percent of the total shares purchased during the fourth quarter of 2017 were purchased in november? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.625 | Context:determined that it was the primary beneficiary of the 2001 financing entities and thus consolidated the entities effective march 16 , 2011 . effective april 30 , 2011 , international paper liquidated its interest in the 2001 financing entities . activity between the company and the 2002 financ- ing entities was as follows: .
|in millions|2012|2011|2010|
|revenue ( loss ) ( a )|$ 2014|$ 2|$ 5|
|expense ( b )|2014|3|8|
|cash receipts ( c )|252|192|3|
|cash payments ( d )|159|244|8|
( a ) the revenue is included in equity earnings ( loss ) , net of tax in the accompanying consolidated statement of operations . ( b ) the expense is included in interest expense , net in the accom- panying consolidated statement of operations . ( c ) the cash receipts are equity distributions from the 2002 financ- ing entities to international paper and cash receipts from the maturity of the 2002 monetized notes . ( d ) the cash payments include both interest and principal on the associated debt obligations . on may 31 , 2011 , the third-party equity holder of the 2002 financing entities retired its class a interest in the entities for $ 51 million . as a result of the retire- ment , effective may 31 , 2011 , international paper owned 100% ( 100 % ) of the 2002 financing entities . based on an analysis performed by the company after the retirement , under guidance that considers the poten- tial magnitude of the variability in the structure and which party has controlling financial interest , international paper determined that it was the pri- mary beneficiary of the 2002 financing entities and thus consolidated the entities effective may 31 , 2011 . during the year ended december 31 , 2011 approx- imately $ 191 million of the 2002 monetized notes matured . outstanding debt related to these entities of $ 158 million is included in floating rate notes due 2011 2013 2017 in the summary of long-term debt in note 12 at december 31 , 2011 . as of may 31 , 2012 , this debt had been repaid . during the year ended december 31 , 2012 , $ 252 mil- lion of the 2002 monetized notes matured . as of result of these maturities , accounts and notes receivable decreased $ 252 million and notes payable and current maturities of long-term debt decreased $ 158 million . deferred tax liabilities associated with the 2002 forestland installment sales decreased $ 67 million . effective june 1 , 2012 , international paper liquidated its interest in the 2002 financing entities . the use of the above entities facilitated the mone- tization of the credit enhanced timber and mone- tized notes in a cost effective manner by increasing the borrowing capacity and lowering the interest rate while continuing to preserve the tax deferral that resulted from the forestlands installment sales and the offset accounting treatment described above . in connection with the acquisition of temple-inland in february 2012 , two special purpose entities became wholly-owned subsidiaries of international paper . in october 2007 , temple-inland sold 1.55 million acres of timberlands for $ 2.38 billion . the total con- sideration consisted almost entirely of notes due in 2027 issued by the buyer of the timberlands , which temple-inland contributed to two wholly-owned , bankruptcy-remote special purpose entities . the notes are shown in financial assets of special pur- pose 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 rat- ings on their long-term debt . in the third quarter of 2012 , international paper completed is preliminary analysis of the acquisition date fair value of the notes and determined it to be $ 2.09 billion . as a result of this analysis , financial assets of special purposed entities decreased by $ 292 million and goodwill increased by the same amount . as of december 31 , 2012 , the fair value of the notes was $ 2.21 billion . in december 2007 , temple-inland 2019s two wholly- owned special purpose entities borrowed $ 2.14 bil- lion shown in nonrecourse financial liabilities of special purpose entities in the accompanying con- solidated balance sheet . 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 the company . the loan agreements provide that if a credit rating of any of the banks issuing the letters of credit is down- graded 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 analy- sis of the acquisition date fair value of the borrow- ings and determined it to be $ 2.03 billion . as a result of this analysis , nonrecourse financial liabilities of special purpose entities decreased by $ 110 million and goodwill decreased by the same amount . as of december 31 , 2012 , the fair value of this debt was $ 2.12 billion . the buyer of the temple-inland timberland issued the $ 2.38 billion in notes from its wholly-owned , bankruptcy-remote special purpose entities . the buyer 2019s special purpose entities held the timberlands from the transaction date until november 2008 , at which time the timberlands were transferred out of the buyer 2019s special purpose entities . due to the transfer of the timberlands , temple-inland evaluated the buyer 2019s special purpose entities and determined that they were variable interest entities and that temple-inland was the primary beneficiary . as a result , in 2008 , temple-inland .
Question: based on the review of the activity between the company and the 2002 financ- ing entities what was the ratio of the revenue to the expense 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: |
103.7 | Context:new term loan a facility , with the remaining unpaid principal amount of loans under the new term loan a facility due and payable in full at maturity on june 6 , 2021 . principal amounts outstanding under the new revolving loan facility are due and payable in full at maturity on june 6 , 2021 , subject to earlier repayment pursuant to the springing maturity date described above . in addition to paying interest on outstanding principal under the borrowings , we are obligated to pay a quarterly commitment fee at a rate determined by reference to a total leverage ratio , with a maximum commitment fee of 40% ( 40 % ) of the applicable margin for eurocurrency loans . in july 2016 , breakaway four , ltd. , as borrower , and nclc , as guarantor , entered into a supplemental agreement , which amended the breakaway four loan to , among other things , increase the aggregate principal amount of commitments under the multi-draw term loan credit facility from 20ac590.5 million to 20ac729.9 million . in june 2016 , we took delivery of seven seas explorer . to finance the payment due upon delivery , we had export credit financing in place for 80% ( 80 % ) of the contract price . the associated $ 373.6 million term loan bears interest at 3.43% ( 3.43 % ) with a maturity date of june 30 , 2028 . principal and interest payments shall be paid semiannually . in december 2016 , nclc issued $ 700.0 million aggregate principal amount of 4.750% ( 4.750 % ) senior unsecured notes due december 2021 ( the 201cnotes 201d ) in a private offering ( the 201coffering 201d ) at par . nclc used the net proceeds from the offering , after deducting the initial purchasers 2019 discount and estimated fees and expenses , together with cash on hand , to purchase its outstanding 5.25% ( 5.25 % ) senior notes due 2019 having an aggregate outstanding principal amount of $ 680 million . the redemption of the 5.25% ( 5.25 % ) senior notes due 2019 was completed in january 2017 . nclc will pay interest on the notes at 4.750% ( 4.750 % ) per annum , semiannually on june 15 and december 15 of each year , commencing on june 15 , 2017 , to holders of record at the close of business on the immediately preceding june 1 and december 1 , respectively . nclc may redeem the notes , in whole or part , at any time prior to december 15 , 2018 , at a price equal to 100% ( 100 % ) of the principal amount of the notes redeemed plus accrued and unpaid interest to , but not including , the redemption date and a 201cmake-whole premium . 201d nclc may redeem the notes , in whole or in part , on or after december 15 , 2018 , at the redemption prices set forth in the indenture governing the notes . at any time ( which may be more than once ) on or prior to december 15 , 2018 , nclc may choose to redeem up to 40% ( 40 % ) of the aggregate principal amount of the notes at a redemption price equal to 104.750% ( 104.750 % ) of the face amount thereof with an amount equal to the net proceeds of one or more equity offerings , so long as at least 60% ( 60 % ) of the aggregate principal amount of the notes issued remains outstanding following such redemption . the indenture governing the notes contains covenants that limit nclc 2019s ability ( and its restricted subsidiaries 2019 ability ) to , among other things : ( i ) incur or guarantee additional indebtedness or issue certain preferred shares ; ( ii ) pay dividends and make certain other restricted payments ; ( iii ) create restrictions on the payment of dividends or other distributions to nclc from its restricted subsidiaries ; ( iv ) create liens on certain assets to secure debt ; ( v ) make certain investments ; ( vi ) engage in transactions with affiliates ; ( vii ) engage in sales of assets and subsidiary stock ; and ( viii ) transfer all or substantially all of its assets or enter into merger or consolidation transactions . the indenture governing the notes also provides for events of default , which , if any of them occurs , would permit or require the principal , premium ( if any ) , interest and other monetary obligations on all of the then-outstanding notes to become due and payable immediately . interest expense , net for the year ended december 31 , 2016 was $ 276.9 million which included $ 34.7 million of amortization of deferred financing fees and a $ 27.7 million loss on extinguishment of debt . interest expense , net for the year ended december 31 , 2015 was $ 221.9 million which included $ 36.7 million of amortization of deferred financing fees and a $ 12.7 million loss on extinguishment of debt . interest expense , net for the year ended december 31 , 2014 was $ 151.8 million which included $ 32.3 million of amortization of deferred financing fees and $ 15.4 million of expenses related to financing transactions in connection with the acquisition of prestige . certain of our debt agreements contain covenants that , among other things , require us to maintain a minimum level of liquidity , as well as limit our net funded debt-to-capital ratio , maintain certain other ratios and restrict our ability to pay dividends . substantially all of our ships and other property and equipment are pledged as collateral for certain of our debt . we believe we were in compliance with these covenants as of december 31 , 2016 . the following are scheduled principal repayments on long-term debt including capital lease obligations as of december 31 , 2016 for each of the next five years ( in thousands ) : .
|year|amount|
|2017|$ 560193|
|2018|554846|
|2019|561687|
|2020|1153733|
|2021|2193823|
|thereafter|1490322|
|total|$ 6514604|
we had an accrued interest liability of $ 32.5 million and $ 34.2 million as of december 31 , 2016 and 2015 , respectively. .
Question: from 2014 to 2016 , what was the total amount of money they can deduct from their future income tax due to amortization? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.38793 | Context:adequacy of our provision for income taxes , we regularly assess the likelihood of adverse outcomes resulting from tax examinations . while it is often difficult to predict the final outcome or the timing of the resolution of a tax examination , our reserves for uncertain tax benefits reflect the outcome of tax positions that are more likely than not to occur . while we believe that we have complied with all applicable tax laws , there can be no assurance that a taxing authority will not have a different interpretation of the law and assess us with additional taxes . should additional taxes be assessed , this may result in a material adverse effect on our results of operations and financial condition . item 1b . unresolved staff comments we have no unresolved sec staff comments to report . item 2 . properties as of december 31 , 2018 , we owned or leased 126 major manufacturing sites and 15 major technical centers . a manufacturing site may include multiple plants and may be wholly or partially owned or leased . we also have many smaller manufacturing sites , sales offices , warehouses , engineering centers , joint ventures and other investments strategically located throughout the world . we have a presence in 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|
|signal and power solutions|45|33|33|5|116|
|advanced safety and user experience|2|5|3|2014|10|
|total|47|38|36|5|126|
in addition to these manufacturing sites , we had 15 major technical centers : eight in north america ; two in europe , middle east and africa ; and five in asia pacific . of our 126 major manufacturing sites and 15 major technical centers , which include facilities owned or leased by our consolidated subsidiaries , 61 are primarily owned and 80 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 . brazil matters aptiv conducts business operations in brazil that are subject to the brazilian federal labor , social security , environmental , tax and customs laws , as well as a variety of state and local laws . while aptiv believes it complies with such laws , they are complex , subject to varying interpretations , and the company is often engaged in litigation with government agencies regarding the application of these laws to particular circumstances . as of december 31 , 2018 , the majority of claims asserted against aptiv in brazil relate to such litigation . the remaining claims in brazil relate to commercial and labor litigation with private parties . as of december 31 , 2018 , claims totaling approximately $ 145 million ( using december 31 , 2018 foreign currency rates ) have been asserted against aptiv in brazil . as of december 31 , 2018 , the company maintains accruals for these asserted claims of $ 30 million ( using december 31 , 2018 foreign currency rates ) . the amounts accrued represent claims that are deemed probable of loss and are reasonably estimable based on the company 2019s analyses and assessment of the asserted claims and prior experience with similar matters . while the company believes its accruals are adequate , the final amounts required to resolve these matters could differ materially from the company 2019s recorded estimates and aptiv 2019s results of .
Question: what is the percentage of north america's signal and power solutions sites among all signal and power solutions 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: |
-1.00692 | Context:item 7 . management 2019s discussion and analysis of financial condition and results of operations executive summary international paper 2019s operating results in 2007 bene- fited from significantly higher paper and packaging price realizations . sales volumes were slightly high- er , with growth in overseas markets partially offset by lower volumes in north america as we continued to balance our production with our customers 2019 demand . operationally , our pulp and paper and containerboard mills ran very well in 2007 . however , input costs for wood , energy and transportation costs were all well above 2006 levels . in our forest products business , earnings decreased 31% ( 31 % ) reflect- ing a sharp decline in harvest income and a smaller drop in forestland and real estate sales , both reflect- ing our forestland divestitures in 2006 . interest expense decreased over 40% ( 40 % ) , principally due to lower debt balances and interest rates from debt repayments and refinancings . looking forward to the first quarter of 2008 , we expect demand for north american printing papers and packaging to remain steady . however , if the economic downturn in 2008 is greater than expected , this could have a negative impact on sales volumes and earnings . some slight increases in paper and packaging price realizations are expected as we implement our announced price increases . however , first quarter earnings will reflect increased planned maintenance expenses and continued escalation of wood , energy and transportation costs . as a result , excluding the impact of projected reduced earnings from land sales and the addition of equity earnings contributions from our recent investment in ilim holding s.a . in russia , we expect 2008 first-quarter earnings to be lower than in the 2007 fourth quarter . results of operations industry segment operating profits are used by inter- national paper 2019s management to measure the earn- ings performance of its businesses . management believes that this measure allows a better under- standing of trends in costs , operating efficiencies , prices and volumes . industry segment operating profits are defined as earnings before taxes and minority interest , interest expense , corporate items and corporate special items . industry segment oper- ating profits are defined by the securities and exchange commission as a non-gaap financial measure , and are not gaap alternatives to net earn- ings or any other operating measure prescribed by accounting principles generally accepted in the united states . international paper operates in six segments : print- ing papers , industrial packaging , consumer pack- aging , distribution , forest products , and specialty businesses and other . the following table shows the components of net earnings for each of the last three years : in millions 2007 2006 2005 .
|in millions|2007|2006|2005|
|industry segment operating profits|$ 2423|$ 2074|$ 1622|
|corporate items net|-732 ( 732 )|-746 ( 746 )|-607 ( 607 )|
|corporate special items*|241|2373|-134 ( 134 )|
|interest expense net|-297 ( 297 )|-521 ( 521 )|-595 ( 595 )|
|minority interest|-5 ( 5 )|-9 ( 9 )|-9 ( 9 )|
|income tax benefit ( provision )|-415 ( 415 )|-1889 ( 1889 )|407|
|discontinued operations|-47 ( 47 )|-232 ( 232 )|416|
|net earnings|$ 1168|$ 1050|$ 1100|
* corporate special items include restructuring and other charg- es , net ( gains ) losses on sales and impairments of businesses , gains on transformation plan forestland sales , goodwill impairment charges , insurance recoveries and reversals of reserves no longer required . industry segment operating profits of $ 2.4 billion were $ 349 million higher in 2007 than in 2006 due principally to the benefits from higher average price realizations ( $ 461 million ) , the net impact of cost reduction initiatives , improved operating perform- ance and a more favorable mix of products sold ( $ 304 million ) , higher sales volumes ( $ 17 million ) , lower special item costs ( $ 115 million ) and other items ( $ 4 million ) . these benefits more than offset the impacts of higher energy , raw material and freight costs ( $ 205 million ) , higher costs for planned mill maintenance outages ( $ 48 million ) , lower earn- ings from land sales ( $ 101 million ) , costs at the pensacola mill associated with the conversion of a machine to the production of linerboard ( $ 52 million ) and reduced earnings due to net acquisitions and divestitures ( $ 146 million ) . segment operating profit ( in millions ) $ 2074 ( $ 205 ) ( $ 48 ) $ 17 ( $ 244 ) $ 2423$ 4 ( $ 52 ) ( $ 101 ) $ 461 $ 1000 $ 1500 $ 2000 $ 2500 $ 3000 .
Question: in 2007 what was the percentage change in the industry segment operating profits from 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: |
-130.0 | Context:2013 2012 2011 .
||2013|2012|2011|
|track miles of rail replaced|834|964|895|
|track miles of rail capacity expansion|97|139|69|
|new ties installed ( thousands )|3870|4436|3785|
|miles of track surfaced|11017|11049|11284|
capital plan 2013 in 2014 , we expect our total capital investments to be approximately $ 3.9 billion , which may be revised if business conditions or the regulatory environment affect our ability to generate sufficient returns on these investments . while the number of our assets replaced will fluctuate as part of our replacement strategy , for 2014 we expect to use over 60% ( 60 % ) of our capital investments to replace and improve existing capital assets . among our major investment categories are replacing and improving track infrastructure and upgrading our locomotive , freight car and container fleets , including the acquisition of 200 locomotives . additionally , we will continue increasing our network and terminal capacity , especially in the southern region , and balancing terminal capacity with more mainline capacity . construction of a major rail facility at santa teresa , new mexico , will be completed in 2014 and will include a run-through and fueling facility as well as an intermodal ramp . we also plan to make significant investments in technology improvements , including approximately $ 450 million for ptc . we expect to fund our 2014 cash capital investments by using some or all of the following : cash generated from operations , proceeds from the sale or lease of various operating and non-operating properties , proceeds from the issuance of long-term debt , and cash on hand . our annual capital plan is a critical component of our long-term strategic plan , which we expect will enhance the long-term value of the corporation for our shareholders by providing sufficient resources to ( i ) replace and improve our existing track infrastructure to provide safe and fluid operations , ( ii ) increase network efficiency by adding or improving facilities and track , and ( iii ) make investments that meet customer demand and take advantage of opportunities for long-term growth . financing activities cash used in financing activities increased in 2013 versus 2012 , driven by a $ 744 million increase for the repurchase of shares under our common stock repurchase program and higher dividend payments in 2013 of $ 1.3 billion compared to $ 1.1 billion in 2012 . we increased our debt levels in 2013 , which partially offset the increase in cash used in financing activities . cash used in financing activities increased in 2012 versus 2011 . dividend payments in 2012 increased by $ 309 million , reflecting our higher dividend rate , and common stock repurchases increased by $ 56 million . our debt levels did not materially change from 2011 after a decline in debt levels from 2010 . therefore , less cash was used in 2012 for debt activity than in 2011 . dividends 2013 on february 6 , 2014 , we increased the quarterly dividend to $ 0.91 per share , payable on april 1 , 2014 , to shareholders of record on february 28 , 2014 . we expect to fund the increase in the quarterly dividend through cash generated from operations and cash on hand at december 31 , 2013 . credit facilities 2013 on december 31 , 2013 , we had $ 1.8 billion of credit available under our revolving credit facility ( the facility ) , which is designated for general corporate purposes and supports the issuance of commercial paper . we did not draw on the facility during 2013 . commitment fees and interest rates payable under the facility are similar to fees and rates available to comparably rated , investment-grade borrowers . the facility allows for borrowings at floating rates based on london interbank offered rates , plus a spread , depending upon credit ratings for our senior unsecured debt . the facility matures in 2015 under a four year term and requires the corporation to maintain a debt-to-net-worth coverage ratio as a condition to making a borrowing . at december 31 , 2013 , and december 31 , 2012 ( and at all times during the year ) , we were in compliance with this covenant . the definition of debt used for purposes of calculating the debt-to-net-worth coverage ratio includes , among other things , certain credit arrangements , capital leases , guarantees and unfunded and vested pension benefits under title iv of erisa . at december 31 , 2013 , the debt-to-net-worth coverage ratio allowed us to carry up to $ 42.4 billion of debt ( as defined in the facility ) , and we had $ 9.9 billion of debt ( as defined in the facility ) outstanding at that date . under our current capital plans , we expect to continue to satisfy the debt-to-net-worth coverage ratio ; however , many factors beyond our reasonable control .
Question: what was the difference in track miles of rail replaced between 2012 and 2013? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
870.0 | Context:( a ) excludes discontinued operations . ( b ) earnings before interest expense and taxes as a percent of average total assets . ( c ) total debt as a percent of the sum of total debt , shareholders 2019 equity and non-current deferred income tax liabilities . the results above include the impact of the specified items detailed below . additional discussion regarding the specified items in fiscal years 2017 , 2016 and 2015 are provided in item 7 . management 2019s discussion and analysis of financial condition and results of operations. .
|millions of dollars except per share amounts|years ended september 30 2017|years ended september 30 2016|years ended september 30 2015|years ended september 30 2014|years ended september 30 2013|
|total specified items|$ 1466|$ 1261|$ 1186|$ 153|$ 442|
|after-tax impact of specified items|$ 971|$ 892|$ 786|$ 101|$ 279|
|impact of specified items on diluted earnings per share|$ -4.34 ( 4.34 )|$ -4.10 ( 4.10 )|$ -3.79 ( 3.79 )|$ -0.51 ( 0.51 )|$ -1.40 ( 1.40 )|
|impact of dilution from share issuances|$ -0.54 ( 0.54 )|$ 2014|$ -0.02 ( 0.02 )|$ 2014|$ 2014|
item 7 . management 2019s discussion and analysis of financial condition and results of operations the following commentary should be read in conjunction with the consolidated financial statements and accompanying notes . within the tables presented throughout this discussion , certain columns may not add due to the use of rounded numbers for disclosure purposes . percentages and earnings per share amounts presented are calculated from the underlying amounts . references to years throughout this discussion relate to our fiscal years , which end on september 30 . company overview description of the company and business segments becton , dickinson and company ( 201cbd 201d ) is a global medical technology company engaged in the development , manufacture and sale of a broad range of medical supplies , devices , laboratory equipment and diagnostic products used by healthcare institutions , life science researchers , clinical laboratories , the pharmaceutical industry and the general public . the company's organizational structure is based upon two principal business segments , bd medical ( 201cmedical 201d ) and bd life sciences ( 201clife sciences 201d ) . bd 2019s products are manufactured and sold worldwide . our products are marketed in the united states and internationally through independent distribution channels and directly to end-users by bd and independent sales representatives . we organize our operations outside the united states as follows : europe ; ema ( which includes the commonwealth of independent states , the middle east and africa ) ; greater asia ( which includes japan and asia pacific ) ; latin america ( which includes mexico , central america , the caribbean , and south america ) ; and canada . we continue to pursue growth opportunities in emerging markets , which include the following geographic regions : eastern europe , the middle east , africa , latin america and certain countries within asia pacific . we are primarily focused on certain countries whose healthcare systems are expanding , in particular , china and india . strategic objectives bd remains focused on delivering sustainable growth and shareholder value , while making appropriate investments for the future . bd management operates the business consistent with the following core strategies : 2022 to increase revenue growth by focusing on our core products , services and solutions that deliver greater benefits to patients , healthcare workers and researchers; .
Question: what is the range of after-tax impact of specified items from 2013-2017 , 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: |
-152.0 | Context:the portion of compensation expense associated with certain long-term incentive plans ( 201cltip 201d ) funded or to be funded through share distributions to participants of blackrock stock held by pnc and a merrill lynch & co. , inc . ( 201cmerrill lynch 201d ) cash compensation contribution , has been excluded because it ultimately does not impact blackrock 2019s book value . the expense related to the merrill lynch cash compensation contribution ceased at the end of third quarter 2011 . as of first quarter 2012 , all of the merrill lynch contributions had been received . compensation expense associated with appreciation ( depreciation ) on investments related to certain blackrock deferred compensation plans has been excluded as returns on investments set aside for these plans , which substantially offset this expense , are reported in non-operating income ( expense ) . management believes operating income exclusive of these items is a useful measure in evaluating blackrock 2019s operating performance and helps enhance the comparability of this information for the reporting periods presented . operating margin , as adjusted : 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 commissions . management believes the exclusion of such costs and commissions is useful because these costs can fluctuate considerably and revenues associated with the expenditure of these costs will not fully impact the company 2019s results until future periods . operating margin , as adjusted , allows the company to compare performance from period-to-period by adjusting for items that may not recur , recur infrequently or may have an economic offset in non-operating income ( expense ) . examples of such adjustments include bgi transaction and integration costs , u.k . lease exit costs , contribution to stifs , restructuring charges , closed-end fund launch costs , commissions paid to certain employees as compensation and fluctuations in compensation expense based on mark-to-market movements in investments held to fund certain compensation plans . the company 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 the gaap and non- gaap financial measures in evaluating the financial performance of blackrock . the non-gaap measure by itself may pose limitations because it does not include all of the company 2019s revenues and expenses . 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 earned by the company . 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 ) non-operating income ( expense ) , less net income ( loss ) attributable to non-controlling interests , as adjusted : non-operating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted , is presented below . the compensation expense offset is recorded in operating income . this compensation expense has been included in non-operating 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 non-operating income ( expense ) , gaap basis . ( dollar amounts in millions ) 2012 2011 2010 non-operating income ( expense ) , gaap basis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ ( 54 ) $ ( 114 ) $ 23 less : net income ( loss ) attributable to nci . . . . . . . . . . . . . . . . . . . . . . . . ( 18 ) 2 ( 13 ) non-operating income ( expense ) ( 1 ) . . . . . . ( 36 ) ( 116 ) 36 compensation expense related to ( appreciation ) depreciation on deferred compensation plans . . . . ( 6 ) 3 ( 11 ) non-operating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted . . . . . . . . . . . . . . . . . . . . . . . . . . $ ( 42 ) $ ( 113 ) $ 25 ( 1 ) net of net income ( loss ) attributable to nci . management believes non-operating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted , provides comparability of this information among reporting periods and is an effective measure for reviewing blackrock 2019s non-operating contribution to its 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 .
|( dollar amounts in millions )|2012|2011|2010|
|non-operating income ( expense ) gaap basis|$ -54 ( 54 )|$ -114 ( 114 )|$ 23|
|less : net income ( loss ) attributable to nci|-18 ( 18 )|2|-13 ( 13 )|
|non-operating income ( expense ) ( 1 )|-36 ( 36 )|-116 ( 116 )|36|
|compensation expense related to ( appreciation ) depreciation on deferred compensation plans|-6 ( 6 )|3|-11 ( 11 )|
|non-operating income ( expense ) less net income ( loss ) attributable to nci as adjusted|$ -42 ( 42 )|$ -113 ( 113 )|$ 25|
the portion of compensation expense associated with certain long-term incentive plans ( 201cltip 201d ) funded or to be funded through share distributions to participants of blackrock stock held by pnc and a merrill lynch & co. , inc . ( 201cmerrill lynch 201d ) cash compensation contribution , has been excluded because it ultimately does not impact blackrock 2019s book value . the expense related to the merrill lynch cash compensation contribution ceased at the end of third quarter 2011 . as of first quarter 2012 , all of the merrill lynch contributions had been received . compensation expense associated with appreciation ( depreciation ) on investments related to certain blackrock deferred compensation plans has been excluded as returns on investments set aside for these plans , which substantially offset this expense , are reported in non-operating income ( expense ) . management believes operating income exclusive of these items is a useful measure in evaluating blackrock 2019s operating performance and helps enhance the comparability of this information for the reporting periods presented . operating margin , as adjusted : 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 commissions . management believes the exclusion of such costs and commissions is useful because these costs can fluctuate considerably and revenues associated with the expenditure of these costs will not fully impact the company 2019s results until future periods . operating margin , as adjusted , allows the company to compare performance from period-to-period by adjusting for items that may not recur , recur infrequently or may have an economic offset in non-operating income ( expense ) . examples of such adjustments include bgi transaction and integration costs , u.k . lease exit costs , contribution to stifs , restructuring charges , closed-end fund launch costs , commissions paid to certain employees as compensation and fluctuations in compensation expense based on mark-to-market movements in investments held to fund certain compensation plans . the company 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 the gaap and non- gaap financial measures in evaluating the financial performance of blackrock . the non-gaap measure by itself may pose limitations because it does not include all of the company 2019s revenues and expenses . 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 earned by the company . 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 ) non-operating income ( expense ) , less net income ( loss ) attributable to non-controlling interests , as adjusted : non-operating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted , is presented below . the compensation expense offset is recorded in operating income . this compensation expense has been included in non-operating 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 non-operating income ( expense ) , gaap basis . ( dollar amounts in millions ) 2012 2011 2010 non-operating income ( expense ) , gaap basis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ ( 54 ) $ ( 114 ) $ 23 less : net income ( loss ) attributable to nci . . . . . . . . . . . . . . . . . . . . . . . . ( 18 ) 2 ( 13 ) non-operating income ( expense ) ( 1 ) . . . . . . ( 36 ) ( 116 ) 36 compensation expense related to ( appreciation ) depreciation on deferred compensation plans . . . . ( 6 ) 3 ( 11 ) non-operating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted . . . . . . . . . . . . . . . . . . . . . . . . . . $ ( 42 ) $ ( 113 ) $ 25 ( 1 ) net of net income ( loss ) attributable to nci . management believes non-operating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted , provides comparability of this information among reporting periods and is an effective measure for reviewing blackrock 2019s non-operating contribution to its 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 .
Question: what is the net change in non-operating income from 2010 to 2011? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.09493 | Context:customer demand . this compared with 555000 tons of total downtime in 2006 of which 150000 tons related to lack-of-orders . printing papers in millions 2007 2006 2005 .
|in millions|2007|2006|2005|
|sales|$ 6530|$ 6700|$ 6980|
|operating profit|$ 1101|$ 636|$ 434|
north american printing papers net sales in 2007 were $ 3.5 billion compared with $ 4.4 billion in 2006 ( $ 3.5 billion excluding the coated and super- calendered papers business ) and $ 4.8 billion in 2005 ( $ 3.2 billion excluding the coated and super- calendered papers business ) . sales volumes decreased in 2007 versus 2006 partially due to reduced production capacity resulting from the conversion of the paper machine at the pensacola mill to the production of lightweight linerboard for our industrial packaging segment . average sales price realizations increased significantly , reflecting benefits from price increases announced throughout 2007 . lack-of-order downtime declined to 27000 tons in 2007 from 40000 tons in 2006 . operating earnings of $ 537 million in 2007 increased from $ 482 million in 2006 ( $ 407 million excluding the coated and supercalendered papers business ) and $ 175 million in 2005 ( $ 74 million excluding the coated and supercalendered papers business ) . the benefits from improved average sales price realizations more than offset the effects of higher input costs for wood , energy , and freight . mill operations were favorable compared with the prior year due to current-year improvements in machine performance and energy conservation efforts . sales volumes for the first quarter of 2008 are expected to increase slightly , and the mix of prod- ucts sold to improve . demand for printing papers in north america was steady as the quarter began . price increases for cut-size paper and roll stock have been announced that are expected to be effective principally late in the first quarter . planned mill maintenance outage costs should be about the same as in the fourth quarter ; however , raw material costs are expected to continue to increase , primarily for wood and energy . brazil ian papers net sales for 2007 of $ 850 mil- lion were higher than the $ 495 million in 2006 and the $ 465 million in 2005 . compared with 2006 , aver- age sales price realizations improved reflecting price increases for uncoated freesheet paper realized dur- ing the second half of 2006 and the first half of 2007 . excluding the impact of the luiz antonio acquisition , sales volumes increased primarily for cut size and offset paper . operating profits for 2007 of $ 246 mil- lion were up from $ 122 million in 2006 and $ 134 mil- lion in 2005 as the benefits from higher sales prices and favorable manufacturing costs were only parti- ally offset by higher input costs . contributions from the luiz antonio acquisition increased net sales by approximately $ 350 million and earnings by approx- imately $ 80 million in 2007 . entering 2008 , sales volumes for uncoated freesheet paper and pulp should be seasonally lower . average price realizations should be essentially flat , but mar- gins are expected to reflect a less favorable product mix . energy costs , primarily for hydroelectric power , are expected to increase significantly reflecting a lack of rainfall in brazil in the latter part of 2007 . european papers net sales in 2007 were $ 1.5 bil- lion compared with $ 1.3 billion in 2006 and $ 1.2 bil- lion in 2005 . sales volumes in 2007 were higher than in 2006 at our eastern european mills reflecting stronger market demand and improved efficiencies , but lower in western europe reflecting the closure of the marasquel mill in 2006 . average sales price real- izations increased significantly in 2007 in both east- ern and western european markets . operating profits of $ 214 million in 2007 increased from a loss of $ 16 million in 2006 and earnings of $ 88 million in 2005 . the loss in 2006 reflects the impact of a $ 128 million impairment charge to reduce the carrying value of the fixed assets at the saillat , france mill . excluding this charge , the improvement in 2007 compared with 2006 reflects the contribution from higher net sales , partially offset by higher input costs for wood , energy and freight . looking ahead to the first quarter of 2008 , sales volumes are expected to be stable in western europe , but seasonally weaker in eastern europe and russia . average price realizations are expected to remain about flat . wood costs are expected to increase , especially in russia due to strong demand ahead of tariff increases , and energy costs are anticipated to be seasonally higher . asian printing papers net sales were approx- imately $ 20 million in 2007 , compared with $ 15 mil- lion in 2006 and $ 10 million in 2005 . operating earnings increased slightly in 2007 , but were close to breakeven in all periods . u.s . market pulp sales in 2007 totaled $ 655 mil- lion compared with $ 510 million and $ 525 million in 2006 and 2005 , respectively . sales volumes in 2007 were up from 2006 levels , primarily for paper and .
Question: what was the profit margin from printing paper in 2006 | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-12.0 | Context:notes to the consolidated financial statements the credit agreement provides that loans will bear interest at rates based , at the company 2019s option , on one of two specified base rates plus a margin based on certain formulas defined in the credit agreement . additionally , the credit agreement contains a commitment fee on the amount of unused commitment under the credit agreement ranging from 0.125% ( 0.125 % ) to 0.625% ( 0.625 % ) per annum . the applicable interest rate and the commitment fee will vary depending on the ratings established by standard & poor 2019s financial services llc and moody 2019s investor service inc . for the company 2019s non-credit enhanced , long- term , senior , unsecured debt . the credit agreement contains usual and customary restrictive covenants for facilities of its type , which include , with specified exceptions , limitations on the company 2019s ability to create liens or other encumbrances , to enter into sale and leaseback transactions and to enter into consolidations , mergers or transfers of all or substantially all of its assets . the credit agreement also requires the company to maintain a ratio of total indebtedness to total capitalization , as defined in the credit agreement , of sixty percent or less . the credit agreement contains customary events of default that would permit the lenders to accelerate the repayment of any loans , including the failure to make timely payments when due under the credit agreement or other material indebtedness , the failure to satisfy covenants contained in the credit agreement , a change in control of the company and specified events of bankruptcy and insolvency . there were no amounts outstanding under the credit agreement at december 31 , on november 12 , 2010 , ppg completed a public offering of $ 250 million in aggregate principal amount of its 1.900% ( 1.900 % ) notes due 2016 ( the 201c2016 notes 201d ) , $ 500 million in aggregate principal amount of its 3.600% ( 3.600 % ) notes due 2020 ( the 201c2020 notes 201d ) and $ 250 million in aggregate principal amount of its 5.500% ( 5.500 % ) notes due 2040 ( the 201c2040 notes 201d ) . these notes were issued pursuant to an indenture dated as of march 18 , 2008 ( the 201coriginal indenture 201d ) between the company and the bank of new york mellon trust company , n.a. , as trustee ( the 201ctrustee 201d ) , as supplemented by a first supplemental indenture dated as of march 18 , 2008 between the company and the trustee ( the 201cfirst supplemental indenture 201d ) and a second supplemental indenture dated as of november 12 , 2010 between the company and the trustee ( the 201csecond supplemental indenture 201d and , together with the original indenture and the first supplemental indenture , the 201cindenture 201d ) . the company may issue additional debt from time to time pursuant to the original indenture . the indenture governing these notes contains covenants that limit the company 2019s ability to , among other things , incur certain liens securing indebtedness , engage in certain sale-leaseback transactions , and enter into certain consolidations , mergers , conveyances , transfers or leases of all or substantially all the company 2019s assets . the terms of these notes also require the company to make an offer to repurchase notes upon a change of control triggering event ( as defined in the second supplemental indenture ) at a price equal to 101% ( 101 % ) of their principal amount plus accrued and unpaid interest . cash proceeds from this notes offering was $ 983 million ( net of discount and issuance costs ) . the discount and issuance costs related to these notes , which totaled $ 17 million , will be amortized to interest expense over the respective terms of the notes . ppg 2019s non-u.s . operations have uncommitted lines of credit totaling $ 791 million of which $ 31 million was used as of december 31 , 2010 . 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 , 2010 and 2009 , was as follows : ( millions ) 2010 2009 20ac650 million revolving credit facility , 0.8% ( 0.8 % ) as of dec . 31 , 2009 $ 2014 $ 110 other , weighted average 3.39% ( 3.39 % ) as of dec . 31 , 2010 and 2.2% ( 2.2 % ) as of december 31 , 2009 24 158 total $ 24 $ 268 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 , 2010 , total indebtedness was 45% ( 45 % ) 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 2010 , 2009 and 2008 totaled $ 189 million , $ 201 million and $ 228 million , respectively . 2010 ppg annual report and form 10-k 43 .
|( millions )|2010|2009|
|20ac650 million revolving credit facility 0.8% ( 0.8 % ) as of dec . 31 2009|$ 2014|$ 110|
|other weighted average 3.39% ( 3.39 % ) as of dec . 31 2010 and 2.2% ( 2.2 % ) as of december 31 2009|24|158|
|total|$ 24|$ 268|
notes to the consolidated financial statements the credit agreement provides that loans will bear interest at rates based , at the company 2019s option , on one of two specified base rates plus a margin based on certain formulas defined in the credit agreement . additionally , the credit agreement contains a commitment fee on the amount of unused commitment under the credit agreement ranging from 0.125% ( 0.125 % ) to 0.625% ( 0.625 % ) per annum . the applicable interest rate and the commitment fee will vary depending on the ratings established by standard & poor 2019s financial services llc and moody 2019s investor service inc . for the company 2019s non-credit enhanced , long- term , senior , unsecured debt . the credit agreement contains usual and customary restrictive covenants for facilities of its type , which include , with specified exceptions , limitations on the company 2019s ability to create liens or other encumbrances , to enter into sale and leaseback transactions and to enter into consolidations , mergers or transfers of all or substantially all of its assets . the credit agreement also requires the company to maintain a ratio of total indebtedness to total capitalization , as defined in the credit agreement , of sixty percent or less . the credit agreement contains customary events of default that would permit the lenders to accelerate the repayment of any loans , including the failure to make timely payments when due under the credit agreement or other material indebtedness , the failure to satisfy covenants contained in the credit agreement , a change in control of the company and specified events of bankruptcy and insolvency . there were no amounts outstanding under the credit agreement at december 31 , on november 12 , 2010 , ppg completed a public offering of $ 250 million in aggregate principal amount of its 1.900% ( 1.900 % ) notes due 2016 ( the 201c2016 notes 201d ) , $ 500 million in aggregate principal amount of its 3.600% ( 3.600 % ) notes due 2020 ( the 201c2020 notes 201d ) and $ 250 million in aggregate principal amount of its 5.500% ( 5.500 % ) notes due 2040 ( the 201c2040 notes 201d ) . these notes were issued pursuant to an indenture dated as of march 18 , 2008 ( the 201coriginal indenture 201d ) between the company and the bank of new york mellon trust company , n.a. , as trustee ( the 201ctrustee 201d ) , as supplemented by a first supplemental indenture dated as of march 18 , 2008 between the company and the trustee ( the 201cfirst supplemental indenture 201d ) and a second supplemental indenture dated as of november 12 , 2010 between the company and the trustee ( the 201csecond supplemental indenture 201d and , together with the original indenture and the first supplemental indenture , the 201cindenture 201d ) . the company may issue additional debt from time to time pursuant to the original indenture . the indenture governing these notes contains covenants that limit the company 2019s ability to , among other things , incur certain liens securing indebtedness , engage in certain sale-leaseback transactions , and enter into certain consolidations , mergers , conveyances , transfers or leases of all or substantially all the company 2019s assets . the terms of these notes also require the company to make an offer to repurchase notes upon a change of control triggering event ( as defined in the second supplemental indenture ) at a price equal to 101% ( 101 % ) of their principal amount plus accrued and unpaid interest . cash proceeds from this notes offering was $ 983 million ( net of discount and issuance costs ) . the discount and issuance costs related to these notes , which totaled $ 17 million , will be amortized to interest expense over the respective terms of the notes . ppg 2019s non-u.s . operations have uncommitted lines of credit totaling $ 791 million of which $ 31 million was used as of december 31 , 2010 . 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 , 2010 and 2009 , was as follows : ( millions ) 2010 2009 20ac650 million revolving credit facility , 0.8% ( 0.8 % ) as of dec . 31 , 2009 $ 2014 $ 110 other , weighted average 3.39% ( 3.39 % ) as of dec . 31 , 2010 and 2.2% ( 2.2 % ) as of december 31 , 2009 24 158 total $ 24 $ 268 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 , 2010 , total indebtedness was 45% ( 45 % ) 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 2010 , 2009 and 2008 totaled $ 189 million , $ 201 million and $ 228 million , respectively . 2010 ppg annual report and form 10-k 43 .
Question: what was the change in millions of interest payments 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: |
4595947.0 | Context:table of contents the following table discloses purchases of shares of our common stock made by us or on our behalf during the fourth quarter of 2015 . period total number of shares purchased average price paid per share total number of shares not purchased as part of publicly announced plans or programs ( a ) total number of shares purchased as part of publicly announced plans or programs approximate dollar value of shares that may yet be purchased under the plans or programs ( b ) .
|period|total numberof sharespurchased|averageprice paidper share|total number ofshares notpurchased as part ofpublicly announcedplans or programs ( a )|total number ofshares purchased aspart of publiclyannounced plans orprograms|approximate dollarvalue of shares thatmay yet be purchasedunder the plans orprograms ( b )|
|october 2015|1658771|$ 62.12|842059|816712|$ 2.0 billion|
|november 2015|2412467|$ 71.08|212878|2199589|$ 1.8 billion|
|december 2015|7008414|$ 70.31|980|7007434|$ 1.3 billion|
|total|11079652|$ 69.25|1055917|10023735|$ 1.3 billion|
( a ) the shares reported in this column represent purchases settled in the fourth quarter of 2015 relating to ( i ) our purchases of shares in open-market transactions to meet our obligations under stock-based compensation plans , and ( ii ) our purchases of shares from our employees and non-employee directors in connection with the exercise of stock options , the vesting of restricted stock , and other stock compensation transactions in accordance with the terms of our stock-based compensation plans . ( b ) on july 13 , 2015 , we announced that our board of directors approved our purchase of $ 2.5 billion of our outstanding common stock ( with no expiration date ) , which was in addition to the remaining amount available under our $ 3 billion program previously authorized . during the third quarter of 2015 , we completed our purchases under the $ 3 billion program . as of december 31 , 2015 , we had $ 1.3 billion remaining available for purchase under the $ 2.5 billion program. .
Question: what was the percentage increase of shares purchased in november to december? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-0.04545 | Context:the analysis of our depreciation studies . changes in the estimated service lives of our assets and their related depreciation rates are implemented prospectively . under group depreciation , the historical cost ( net of salvage ) of depreciable property that is retired or replaced in the ordinary course of business is charged to accumulated depreciation and no gain or loss is recognized . the historical cost of certain track assets is estimated using ( i ) inflation indices published by the bureau of labor statistics and ( ii ) the estimated useful lives of the assets as determined by our depreciation studies . the indices were selected because they closely correlate with the major costs of the properties comprising the applicable track asset classes . because of the number of estimates inherent in the depreciation and retirement processes and because it is impossible to precisely estimate each of these variables until a group of property is completely retired , we continually monitor the estimated service lives of our assets and the accumulated depreciation associated with each asset class to ensure our depreciation rates are appropriate . in addition , we determine if the recorded amount of accumulated depreciation is deficient ( or in excess ) of the amount indicated by our depreciation studies . any deficiency ( or excess ) is amortized as a component of depreciation expense over the remaining service lives of the applicable classes of assets . for retirements of depreciable railroad properties that do not occur in the normal course of business , a gain or loss may be recognized if the retirement meets each of the following three conditions : ( i ) is unusual , ( ii ) is material in amount , and ( iii ) varies significantly from the retirement profile identified through our depreciation studies . a gain or loss is recognized in other income when we sell land or dispose of assets that are not part of our railroad operations . when we purchase an asset , we capitalize all costs necessary to make the asset ready for its intended use . however , many of our assets are self-constructed . a large portion of our capital expenditures is for replacement of existing track assets and other road properties , which is typically performed by our employees , and for track line expansion and other capacity projects . costs that are directly attributable to capital projects ( including overhead costs ) are capitalized . direct costs that are capitalized as part of self- constructed assets include material , labor , and work equipment . indirect costs are capitalized if they clearly relate to the construction of the asset . general and administrative expenditures are expensed as incurred . normal repairs and maintenance are also expensed as incurred , while costs incurred that extend the useful life of an asset , improve the safety of our operations or improve operating efficiency are capitalized . these costs are allocated using appropriate statistical bases . total expense for repairs and maintenance incurred was $ 2.3 billion for 2013 , $ 2.1 billion for 2012 , and $ 2.2 billion for 2011 . assets held under capital leases are recorded at the lower of the net present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease . amortization expense is computed using the straight-line method over the shorter of the estimated useful lives of the assets or the period of the related lease . 12 . accounts payable and other current liabilities dec . 31 , dec . 31 , millions 2013 2012 .
|millions|dec . 31 2013|dec . 312012|
|accounts payable|$ 803|$ 825|
|income and other taxes payable|491|368|
|accrued wages and vacation|385|376|
|dividends payable|356|318|
|accrued casualty costs|207|213|
|interest payable|169|172|
|equipment rents payable|96|95|
|other|579|556|
|total accounts payable and othercurrent liabilities|$ 3086|$ 2923|
.
Question: what was the percentage change in total expense for repairs and maintenance from 2011 to 2012? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.00307 | Context:challenging investment environment with $ 15.0 billion , or 95% ( 95 % ) , of net inflows coming from institutional clients , with the remaining $ 0.8 billion , or 5% ( 5 % ) , generated by retail and hnw clients . defined contribution plans of institutional clients remained a significant driver of flows . this client group added $ 13.1 billion of net new business in 2012 . during the year , americas net inflows of $ 18.5 billion were partially offset by net outflows of $ 2.6 billion collectively from emea and asia-pacific clients . the company 2019s multi-asset strategies include the following : 2022 asset allocation and balanced products represented 52% ( 52 % ) , or $ 140.2 billion , of multi-asset class aum at year-end , up $ 14.1 billion , with growth in aum driven by net new business of $ 1.6 billion and $ 12.4 billion in market and foreign exchange gains . 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 . 2022 target date and target risk products ended the year at $ 69.9 billion , up $ 20.8 billion , or 42% ( 42 % ) , since december 31 , 2011 . growth in aum was driven by net new business of $ 14.5 billion , a year-over-year organic growth rate of 30% ( 30 % ) . institutional investors represented 90% ( 90 % ) of target date and target risk aum , with defined contribution plans accounting for over 80% ( 80 % ) of aum . the remaining 10% ( 10 % ) of target date and target risk aum consisted of retail client investments . flows were driven by defined contribution investments in our lifepath and lifepath retirement income ae offerings , which are qualified investment options under the pension protection act of 2006 . these 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 accounted for 22% ( 22 % ) , or $ 57.7 billion , of multi-asset aum at december 31 , 2012 and increased $ 7.7 billion during the year due to market and foreign exchange gains . these are complex mandates in which pension plan sponsors 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 . alternatives component changes in alternatives aum ( dollar amounts in millions ) 12/31/2011 net new business acquired market /fx app ( dep ) 12/31/2012 .
|( dollar amounts in millions )|12/31/2011|net new business|net acquired|market /fx app ( dep )|12/31/2012|
|core|$ 63647|$ -3922 ( 3922 )|$ 6166|$ 2476|$ 68367|
|currency and commodities|41301|-1547 ( 1547 )|860|814|41428|
|alternatives|$ 104948|$ -5469 ( 5469 )|$ 7026|$ 3290|$ 109795|
alternatives aum totaled $ 109.8 billion at year-end 2012 , up $ 4.8 billion , or 5% ( 5 % ) , reflecting $ 3.3 billion in portfolio valuation gains and $ 7.0 billion in new assets related to the acquisitions of srpep , which deepened our alternatives footprint in the european and asian markets , and claymore . core alternative outflows of $ 3.9 billion were driven almost exclusively by return of capital to clients . currency net outflows of $ 5.0 billion were partially offset by net inflows of $ 3.5 billion into ishares commodity funds . we continued to make significant investments in our alternatives platform as demonstrated by our acquisition of srpep , successful closes on the renewable power initiative and our build out of an alternatives retail platform , which now stands at nearly $ 10.0 billion in aum . we believe that as alternatives become more conventional and investors adapt their asset allocation strategies to best meet their investment objectives , they will further increase their use of alternative investments to complement core holdings . institutional investors represented 69% ( 69 % ) , or $ 75.8 billion , of alternatives aum with retail and hnw investors comprising an additional 9% ( 9 % ) , or $ 9.7 billion , at year-end 2012 . ishares commodity products accounted for the remaining $ 24.3 billion , or 22% ( 22 % ) , of aum at year-end . alternative clients are geographically diversified with 56% ( 56 % ) , 26% ( 26 % ) , and 18% ( 18 % ) of clients located in the americas , emea and asia-pacific , respectively . the blackrock alternative investors ( 201cbai 201d ) group coordinates our alternative investment efforts , including .
Question: what is the percentage change in the balance of currency and commodities from 2011 to 2012? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.07424 | Context:entering 2006 , industrial packaging earnings are expected to improve significantly in the first quarter compared with the fourth quarter 2005 . average price realizations should continue to benefit from price in- creases announced in late 2005 and early 2006 for linerboard and domestic boxes . containerboard sales volumes are expected to drop slightly in the 2006 first quarter due to fewer shipping days , but growth is antici- pated for u.s . converted products due to stronger de- mand . costs for wood , freight and energy are expected to remain stable during the 2006 first quarter , approach- ing fourth quarter 2005 levels . the continued im- plementation of the new supply chain model at our mills during 2006 will bring additional efficiency improve- ments and cost savings . on a global basis , the european container operating results are expected to improve as a result of targeted market growth and cost reduction ini- tiatives , and we will begin seeing further contributions from our recent moroccan box plant acquisition and from international paper distribution limited . consumer packaging demand and pricing for consumer packaging prod- ucts correlate closely with consumer spending and gen- eral economic activity . in addition to prices and volumes , major factors affecting the profitability of con- sumer packaging are raw material and energy costs , manufacturing efficiency and product mix . consumer packaging 2019s 2005 net sales of $ 2.6 bil- lion were flat compared with 2004 and 5% ( 5 % ) higher com- pared with 2003 . operating profits in 2005 declined 22% ( 22 % ) from 2004 and 31% ( 31 % ) from 2003 as improved price realizations ( $ 46 million ) and favorable operations in the mills and converting operations ( $ 60 million ) could not overcome the impact of cost increases in energy , wood , polyethylene and other raw materials ( $ 120 million ) , lack-of-order downtime ( $ 13 million ) and other costs ( $ 8 million ) . consumer packaging in millions 2005 2004 2003 .
|in millions|2005|2004|2003|
|sales|$ 2590|$ 2605|$ 2465|
|operating profit|$ 126|$ 161|$ 183|
bleached board net sales of $ 864 million in 2005 were up from $ 842 million in 2004 and $ 751 million in 2003 . the effects in 2005 of improved average price realizations and mill operating improvements were not enough to offset increased energy , wood , polyethylene and other raw material costs , a slight decrease in volume and increased lack-of-order downtime . bleached board mills took 100000 tons of downtime in 2005 , including 65000 tons of lack-of-order downtime , compared with 40000 tons of downtime in 2004 , none of which was market related . during 2005 , restructuring and manufacturing improvement plans were implemented to reduce costs and improve market alignment . foodservice net sales were $ 437 million in 2005 compared with $ 480 million in 2004 and $ 460 million in 2003 . average sales prices in 2005 were up 3% ( 3 % ) ; how- ever , domestic cup and lid sales volumes were 5% ( 5 % ) lower than in 2004 as a result of a rationalization of our cus- tomer base early in 2005 . operating profits in 2005 in- creased 147% ( 147 % ) compared with 2004 , largely due to the settlement of a lawsuit and a favorable adjustment on the sale of the jackson , tennessee bag plant . excluding unusual items , operating profits were flat as improved price realizations offset increased costs for bleached board and resin . shorewood net sales of $ 691 million in 2005 were essentially flat with net sales in 2004 of $ 687 million , but were up compared with $ 665 million in 2003 . operating profits in 2005 were 17% ( 17 % ) above 2004 levels and about equal to 2003 levels . improved margins resulting from a rationalization of the customer mix and the effects of improved manufacturing operations , including the successful start up of our south korean tobacco operations , more than offset cost increases for board and paper and the impact of unfavorable foreign exchange rates in canada . beverage packaging net sales were $ 597 million in 2005 , $ 595 million in 2004 and $ 589 million in 2003 . average sale price realizations increased 2% ( 2 % ) compared with 2004 , principally the result of the pass-through of higher raw material costs , although the implementation of price increases continues to be impacted by com- petitive pressures . operating profits were down 14% ( 14 % ) compared with 2004 and 19% ( 19 % ) compared with 2003 , due principally to increases in board and resin costs . in 2006 , the bleached board market is expected to remain strong , with sales volumes increasing in the first quarter compared with the fourth quarter of 2005 for both folding carton and cup products . improved price realizations are also expected for bleached board and in our foodservice and beverage packaging businesses , al- though continued high costs for energy , wood and resin will continue to negatively impact earnings . shorewood should continue to benefit from strong asian operations and from targeted sales volume growth in 2006 . capital improvements and operational excellence initiatives undertaken in 2005 should benefit operating results in 2006 for all businesses . distribution our distribution business , principally represented by our xpedx business , markets a diverse array of products and supply chain services to customers in many business segments . customer demand is generally sensitive to changes in general economic conditions , although the .
Question: what was the consumer packaging profit margin in 2003 | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
1.08781 | Context:( e ) total contractual obligations are made up of the following components . ( in millions ) .
|liabilities recorded on the balance sheet|$ 60578|
|commitments not recorded on the balance sheet|55688|
|total|$ 116266|
off-balance sheet arrangements as of december 31 , 2015 , we did not have any material off-balance sheet arrangements that are reasonably likely to have a current or future effect on our financial condition , results of operations , liquidity , capital expenditures or capital resources . recent accounting pronouncements see note 3 to each of comcast 2019s and nbcuniversal 2019s consolidated financial statements for additional information related to recent accounting pronouncements . critical accounting judgments and estimates the preparation of our consolidated financial statements requires us to make estimates that affect the reported amounts of assets , liabilities , revenue and expenses , and the related disclosure of contingent assets and contingent liabilities . we base our judgments on our historical experience and on various other assump- tions that we believe are reasonable under the circumstances , the results of which form the basis for making estimates about the carrying value of assets and liabilities that are not readily apparent from other sources . actual results may differ from these estimates under different assumptions or conditions . we believe our judgments and related estimates associated with the valuation and impairment testing of our cable franchise rights and the accounting for film and television costs are critical in the preparation of our consolidated financial statements . management has discussed the development and selection of these crit- ical accounting judgments and estimates with the audit committee of our board of directors , and the audit committee has reviewed our disclosures relating to them , which are presented below . see notes 9 and 6 to comcast 2019s consolidated financial statements for a discussion of our accounting policies with respect to these items . valuation and impairment testing of cable franchise rights our largest asset , our cable franchise rights , results from agreements we have with state and local govern- ments that allow us to construct and operate a cable business within a specified geographic area . the value of a franchise is derived from the economic benefits we receive from the right to solicit new customers and to market new services , such as advanced video services and high-speed internet and voice services , in a particular service area . the amounts we record for cable franchise rights are primarily a result of cable system acquisitions . typically when we acquire a cable system , the most significant asset we record is the value of the cable franchise rights . often these cable system acquisitions include multiple franchise areas . we cur- rently serve approximately 6400 franchise areas in the united states . we have concluded that our cable franchise rights have an indefinite useful life since there are no legal , regu- latory , contractual , competitive , economic or other factors which limit the period over which these rights will contribute to our cash flows . accordingly , we do not amortize our cable franchise rights but assess the carry- ing value of our cable franchise rights annually , or more frequently whenever events or changes in circumstances indicate that the carrying amount may exceed the fair value ( 201cimpairment testing 201d ) . 67 comcast 2015 annual report on form 10-k .
Question: what was the ratio of the total contractual obligations for the liabilities recorded on the balance sheet to the commitments not recorded on the balance sheet | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.03393 | Context:will no longer be significant contributors to business operating results , while expenses should also decline significantly reflecting the reduced level of operations . operating earnings will primarily consist of retail forestland and real estate sales of remaining acreage . specialty businesses and other the specialty businesses and other segment includes the results of the arizona chemical business and certain divested businesses whose results are included in this segment for periods prior to their sale or closure . this segment 2019s 2006 net sales increased 2% ( 2 % ) from 2005 , but declined 17% ( 17 % ) from 2004 . operating profits in 2006 were up substantially from both 2005 and 2004 . the decline in sales compared with 2004 principally reflects declining contributions from businesses sold or closed . specialty businesses and other in millions 2006 2005 2004 .
|in millions|2006|2005|2004|
|sales|$ 935|$ 915|$ 1120|
|operating profit|$ 61|$ 4|$ 38|
arizona chemical sales were $ 769 million in 2006 , compared with $ 692 million in 2005 and $ 672 million in 2004 . sales volumes declined in 2006 compared with 2005 , but average sales price realiza- tions in 2006 were higher in both the united states and europe . operating earnings in 2006 were sig- nificantly higher than in 2005 and more than 49% ( 49 % ) higher than in 2004 . the increase over 2005 reflects the impact of the higher average sales price realiza- tions and lower manufacturing costs , partially offset by higher prices for crude tall oil ( cto ) . earnings for 2005 also included a $ 13 million charge related to a plant shutdown in norway . other businesses in this operating segment include operations that have been sold , closed or held for sale , primarily the polyrey business in france and , in prior years , the european distribution business . sales for these businesses were approximately $ 166 million in 2006 , compared with $ 223 million in 2005 and $ 448 million in 2004 . in december 2006 , the company entered into a definitive agreement to sell the arizona chemical business , expected to close in the first quarter of liquidity and capital resources overview a major factor in international paper 2019s liquidity and capital resource planning is its generation of operat- ing cash flow , which is highly sensitive to changes in the pricing and demand for our major products . while changes in key cash operating costs , such as energy and raw material costs , do have an effect on operating cash generation , we believe that our strong focus on cost controls has improved our cash flow generation over an operating cycle . as part of the continuing focus on improving our return on investment , we have focused our capital spending on improving our key paper and packaging businesses both globally and in north america . spending levels have been kept below the level of depreciation and amortization charges for each of the last three years , and we anticipate spending will again be slightly below depreciation and amor- tization in 2007 . financing activities in 2006 have been focused on the transformation plan objective of strengthening the balance sheet through repayment of debt , resulting in a net reduction in 2006 of $ 5.2 billion following a $ 1.7 billion net reduction in 2005 . additionally , we made a $ 1.0 billion voluntary cash contribution to our u.s . qualified pension plan in december 2006 to begin satisfying projected long-term funding requirements and to lower future pension expense . our liquidity position continues to be strong , with approximately $ 3.0 billion of committed liquidity to cover future short-term cash flow requirements not met by operating cash flows . management believes it is important for interna- tional paper to maintain an investment-grade credit rating to facilitate access to capital markets on favorable terms . at december 31 , 2006 , the com- pany held long-term credit ratings of bbb ( stable outlook ) and baa3 ( stable outlook ) from standard & poor 2019s and moody 2019s investor services , respectively . cash provided by operations cash provided by continuing operations totaled $ 1.0 billion for 2006 , compared with $ 1.2 billion for 2005 and $ 1.7 billion in 2004 . the 2006 amount is net of a $ 1.0 billion voluntary cash pension plan contribution made in the fourth quarter of 2006 . the major components of cash provided by continuing oper- ations are earnings from continuing operations .
Question: what was the specialty businesses and other profit margin in 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: |
0.14103 | Context:the following table presents the net periodic pension and opeb cost/ ( benefit ) for the years ended december 31 : millions 2013 2012 2011 2010 .
|millions|est.2013|2012|2011|2010|
|net periodic pension cost|$ 111|$ 89|$ 78|$ 51|
|net periodic opeb cost/ ( benefit )|15|13|-6 ( 6 )|-14 ( 14 )|
our net periodic pension cost is expected to increase to approximately $ 111 million in 2013 from $ 89 million in 2012 . the increase is driven mainly by a decrease in the discount rate to 3.78% ( 3.78 % ) , our net periodic opeb expense is expected to increase to approximately $ 15 million in 2013 from $ 13 million in 2012 . the increase in our net periodic opeb cost is primarily driven by a decrease in the discount rate to 3.48% ( 3.48 % ) . cautionary information certain statements in this report , and statements in other reports or information filed or to be filed with the sec ( as well as information included in oral statements or other written statements made or to be made by us ) , are , or will be , forward-looking statements as defined by the securities act of 1933 and the securities exchange act of 1934 . these forward-looking statements and information include , without limitation , ( a ) statements in the ceo 2019s letter preceding part i ; statements regarding planned capital expenditures under the caption 201c2013 capital expenditures 201d in item 2 of part i ; statements regarding dividends in item 5 ; and statements and information set forth under the captions 201c2013 outlook 201d and 201cliquidity and capital resources 201d in this item 7 , and ( b ) any other statements or information in this report ( including information incorporated herein by reference ) regarding : expectations as to financial performance , revenue growth and cost savings ; the time by which goals , targets , or objectives will be achieved ; projections , predictions , expectations , estimates , or forecasts as to our business , financial and operational results , future economic performance , and general economic conditions ; expectations as to operational or service performance or improvements ; expectations as to the effectiveness of steps taken or to be taken to improve operations and/or service , including capital expenditures for infrastructure improvements and equipment acquisitions , any strategic business acquisitions , and modifications to our transportation plans ( including statements set forth in item 2 as to expectations related to our planned capital expenditures ) ; expectations as to existing or proposed new products and services ; expectations as to the impact of any new regulatory activities or legislation on our operations or financial results ; estimates of costs relating to environmental remediation and restoration ; estimates and expectations regarding tax matters ; expectations that claims , litigation , environmental costs , commitments , contingent liabilities , labor negotiations or agreements , or other matters will not have a material adverse effect on our consolidated results of operations , financial condition , or liquidity and any other similar expressions concerning matters that are not historical facts . forward-looking statements may be identified by their use of forward-looking terminology , such as 201cbelieves , 201d 201cexpects , 201d 201cmay , 201d 201cshould , 201d 201cwould , 201d 201cwill , 201d 201cintends , 201d 201cplans , 201d 201cestimates , 201d 201canticipates , 201d 201cprojects 201d and similar words , phrases or expressions . forward-looking statements should not be read as a guarantee of future performance or results , and will not necessarily be accurate indications of the times that , or by which , such performance or results will be achieved . forward-looking statements and information are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the statements and information . forward-looking statements and information reflect the good faith consideration by management of currently available information , and may be based on underlying assumptions believed to be reasonable under the circumstances . however , such information and assumptions ( and , therefore , such forward-looking statements and information ) are or may be subject to variables or unknown or unforeseeable events or circumstances over which management has little or no influence or control . the risk factors in item 1a of this report could affect our future results and could cause those results or other outcomes to differ materially from those expressed or implied in any forward-looking statements or information . to the extent circumstances require or we deem it otherwise necessary , we will update or amend these risk factors in a form 10-q , form 8-k or subsequent form 10-k . all forward-looking statements are qualified by , and should be read in conjunction with , these risk factors . forward-looking statements speak only as of the date the statement was made . we assume no obligation to update forward-looking information to reflect actual results , changes in assumptions or changes in other factors affecting forward-looking information . if we do update one or more forward-looking .
Question: what is the estimated growth rate in net periodic pension cost from 2011 to 2012? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.04394 | Context:sales volumes in 2013 increased from 2012 , primarily for fluff pulp , reflecting improved market demand and a change in our product mix with a full year of fluff pulp production at our franklin , virginia mill . average sales price realizations were lower for fluff pulp while prices for market pulp increased . input costs for wood , fuels and chemicals were higher . mill operating costs were significantly lower largely due to the absence of costs associated with the start-up of the franklin mill in 2012 . planned maintenance downtime costs were higher . in the first quarter of 2014 , sales volumes are expected to be slightly lower compared with the fourth quarter of 2013 . average sales price realizations are expected to improve , reflecting the further realization of previously announced sales price increases for softwood pulp and fluff pulp . input costs should be flat . planned maintenance downtime costs should be about $ 11 million higher than in the fourth quarter of 2013 . operating profits will also be negatively impacted by the severe winter weather in the first quarter of 2014 . consumer packaging demand and pricing for consumer packaging products 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 2013 increased 8% ( 8 % ) from 2012 , but decreased 7% ( 7 % ) from 2011 . operating profits decreased 40% ( 40 % ) from 2012 and 1% ( 1 % ) from 2011 . net sales and operating profits include the shorewood business in 2011 . excluding costs associated with the permanent shutdown of a paper machine at our augusta , georgia mill and costs associated with the sale of the shorewood business , 2013 operating profits were 22% ( 22 % ) lower than in 2012 , and 43% ( 43 % ) lower than in 2011 . benefits from higher sales volumes ( $ 45 million ) were offset by lower average sales price realizations and an unfavorable mix ( $ 50 million ) , higher operating costs including incremental costs resulting from the shutdown of a paper machine at our augusta , georgia mill ( $ 46 million ) and higher input costs ( $ 6 million ) . in addition , operating profits in 2013 included restructuring costs of $ 45 million related to the permanent shutdown of a paper machine at our augusta , georgia mill and $ 2 million of costs associated with the sale of the shorewood business . 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 american shorewood business and $ 72 million for other charges associated with the sale of the shorewood business . consumer packaging .
|in millions|2013|2012|2011|
|sales|$ 3435|$ 3170|$ 3710|
|operating profit|161|268|163|
north american consumer packaging net sales were $ 2.0 billion in 2013 compared with $ 2.0 billion in 2012 and $ 2.5 billion in 2011 . operating profits were $ 63 million ( $ 110 million excluding paper machine shutdown costs and costs related to the sale of the shorewood business ) in 2013 compared with $ 165 million ( $ 162 million excluding charges associated with the sale of the shorewood business ) in 2012 and $ 35 million ( $ 236 million excluding asset impairment charges and other costs associated with the sale of the shorewood business ) in 2011 . coated paperboard sales volumes in 2013 were higher than in 2012 reflecting stronger market demand . average sales price realizations were lower year-over- year despite the realization of price increases in the second half of 2013 . input costs for wood and energy increased , but were partially offset by lower costs for chemicals . planned maintenance downtime costs were slightly lower . market-related downtime was about 24000 tons in 2013 compared with about 113000 tons in 2012 . the permanent shutdown of a paper machine at our augusta , georgia mill in the first quarter of 2013 reduced capacity by 140000 tons in 2013 compared with 2012 . foodservice sales volumes increased slightly in 2013 compared with 2012 despite softer market demand . average sales margins were higher reflecting lower input costs for board and resins and a more favorable product mix . operating costs and distribution costs were both higher . the u.s.shorewood business was sold december 31 , 2011 and the non-u.s . business was sold in january looking ahead to the first quarter of 2014 , coated paperboard sales volumes are expected to be seasonally weaker than in the fourth quarter of 2013 . average sales price realizations are expected to be slightly higher , and margins should also benefit from a more favorable product mix . input costs are expected to be higher for energy , chemicals and wood . planned maintenance downtime costs should be $ 8 million lower with a planned maintenance outage scheduled at the augusta mill in the first quarter . the severe winter weather in the first quarter of 2014 will negatively impact operating profits . foodservice sales volumes are expected to be seasonally lower . average sales margins are expected to improve due to the realization of sales price increases effective with our january contract openers and a more favorable product mix. .
Question: what was the printing papers profit margin 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: |
0.65 | Context:note 3 . business combinations purchase combinations . during the fiscal years presented , the company made a number of purchase acquisitions . for each acquisition , the excess of the purchase price over the estimated value of the net tangible assets acquired was allocated to various intangible assets , consisting primarily of developed technology , customer and contract-related assets and goodwill . the values assigned to developed technologies related to each acquisition were based upon future discounted cash flows related to the existing products 2019 projected income streams . goodwill , representing the excess of the purchase consideration over the fair value of tangible and identifiable intangible assets acquired in the acquisitions , will not to be amortized . goodwill is not deductible for tax purposes . the amounts allocated to purchased in-process research and developments were determined through established valuation techniques in the high-technology industry and were expensed upon acquisition because technological feasibility had not been established and no future alternative uses existed . the consolidated financial statements include the operating results of each business from the date of acquisition . the company does not consider these acquisitions to be material to its results of operations and is therefore not presenting pro forma statements of operations for the fiscal years ended october 31 , 2006 , 2005 and 2004 . fiscal 2006 acquisitions sigma-c software ag ( sigma-c ) the company acquired sigma-c on august 16 , 2006 in an all-cash transaction . reasons for the acquisition . sigma-c provides simulation software that allows semiconductor manufacturers and their suppliers to develop and optimize process sequences for optical lithography , e-beam lithography and next-generation lithography technologies . the company believes the acquisition will enable a tighter integration between design and manufacturing tools , allowing the company 2019s customers to perform more accurate design layout analysis with 3d lithography simulation and better understand issues that affect ic wafer yields . purchase price . the company paid $ 20.5 million in cash for the outstanding shares and shareholder notes of which $ 2.05 million was deposited with an escrow agent and will be paid per the escrow agreement . the company believes that the escrow amount will be paid . the total purchase consideration consisted of: .
||( in thousands )|
|cash paid|$ 20500|
|acquisition-related costs|2053|
|total purchase price|$ 22553|
acquisition-related costs of $ 2.1 million consist primarily of legal , tax and accounting fees , estimated facilities closure costs and employee termination costs . as of october 31 , 2006 , the company had paid $ 0.9 million of the acquisition-related costs . the $ 1.2 million balance remaining at october 31 , 2006 primarily consists of legal , tax and accounting fees , estimated facilities closure costs and employee termination costs . assets acquired . the company performed a preliminary valuation and allocated the total purchase consideration to assets and liabilities . the company acquired $ 6.0 million of intangible assets consisting of $ 3.9 million in existing technology , $ 1.9 million in customer relationships and $ 0.2 million in trade names to be amortized over five years . the company also acquired assets of $ 3.9 million and assumed liabilities of $ 5.1 million as result of this transaction . goodwill , representing the excess of the purchase price over the .
Question: what is the percentage of existing technology among the total intangible assets? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.01399 | Context:the relative percentages of operating companies income ( loss ) attributable to each reportable segment and the all other category were as follows: .
||2016|2015|2014|
|smokeable products|86.2% ( 86.2 % )|87.4% ( 87.4 % )|87.2% ( 87.2 % )|
|smokeless products|13.1|12.8|13.4|
|wine|1.8|1.8|1.7|
|all other|-1.1 ( 1.1 )|-2.0 ( 2.0 )|-2.3 ( 2.3 )|
|total|100.0% ( 100.0 % )|100.0% ( 100.0 % )|100.0% ( 100.0 % )|
for items affecting the comparability of the relative percentages of operating companies income ( loss ) attributable to each reportable segment , see note 16 . narrative description of business portions of the information called for by this item are included in operating results by business segment in item 7 . management 2019s discussion and analysis of financial condition and results of operations of this annual report on form 10-k ( 201citem 7 201d ) . tobacco space altria group , inc . 2019s tobacco operating companies include pm usa , usstc and other subsidiaries of ust , middleton , nu mark and nat sherman . altria group distribution company provides sales , distribution and consumer engagement services to altria group , inc . 2019s tobacco operating companies . the products of altria group , inc . 2019s tobacco subsidiaries include smokeable tobacco products , consisting of cigarettes manufactured and sold by pm usa and nat sherman , machine- made large cigars and pipe tobacco manufactured and sold by middleton and premium cigars sold by nat sherman ; smokeless tobacco products manufactured and sold by usstc ; and innovative tobacco products , including e-vapor products manufactured and sold by nu mark . cigarettes : pm usa is the largest cigarette company in the united states , with total cigarette shipment volume in the united states of approximately 122.9 billion units in 2016 , a decrease of 2.5% ( 2.5 % ) from 2015 . marlboro , the principal cigarette brand of pm usa , has been the largest-selling cigarette brand in the united states for over 40 years . nat sherman sells substantially all of its super-premium cigarettes in the united states . cigars : middleton is engaged in the manufacture and sale of machine-made large cigars and pipe tobacco to customers , substantially all of which are located in the united states . middleton sources a portion of its cigars from an importer through a third-party contract manufacturing arrangement . total shipment volume for cigars was approximately 1.4 billion units in 2016 , an increase of 5.9% ( 5.9 % ) from 2015 . black & mild is the principal cigar brand of middleton . nat sherman sources its premium cigars from importers through third-party contract manufacturing arrangements and sells substantially all of its cigars in the united states . smokeless tobacco products : usstc is the leading producer and marketer of moist smokeless tobacco ( 201cmst 201d ) products . the smokeless products segment includes the premium brands , copenhagen and skoal , and value brands , red seal and husky . substantially all of the smokeless tobacco products are manufactured and sold to customers in the united states . total smokeless products shipment volume was 853.5 million units in 2016 , an increase of 4.9% ( 4.9 % ) from 2015 . innovative tobacco products : nu mark participates in the e-vapor category and has developed and commercialized other innovative tobacco products . in addition , nu mark sources the production of its e-vapor products through overseas contract manufacturing arrangements . in 2013 , nu mark introduced markten e-vapor products . in april 2014 , nu mark acquired the e-vapor business of green smoke , inc . and its affiliates ( 201cgreen smoke 201d ) , which began selling e-vapor products in 2009 . for a further discussion of the acquisition of green smoke , see note 3 . acquisition of green smoke to the consolidated financial statements in item 8 ( 201cnote 3 201d ) . in december 2013 , altria group , inc . 2019s subsidiaries entered into a series of agreements with philip morris international inc . ( 201cpmi 201d ) pursuant to which altria group , inc . 2019s subsidiaries provide an exclusive license to pmi to sell nu mark 2019s e-vapor products outside the united states , and pmi 2019s subsidiaries provide an exclusive license to altria group , inc . 2019s subsidiaries to sell two of pmi 2019s heated tobacco product platforms in the united states . further , in july 2015 , altria group , inc . announced the expansion of its strategic framework with pmi to include a joint research , development and technology-sharing agreement . under this agreement , altria group , inc . 2019s subsidiaries and pmi will collaborate to develop e-vapor products for commercialization in the united states by altria group , inc . 2019s subsidiaries and in markets outside the united states by pmi . this agreement also provides for exclusive technology cross licenses , technical information sharing and cooperation on scientific assessment , regulatory engagement and approval related to e-vapor products . in the fourth quarter of 2016 , pmi submitted a modified risk tobacco product ( 201cmrtp 201d ) application for an electronically heated tobacco product with the united states food and drug administration 2019s ( 201cfda 201d ) center for tobacco products and announced that it plans to file its corresponding pre-market tobacco product application during the first quarter of 2017 . the fda must determine whether to accept the applications for substantive review . upon regulatory authorization by the fda , altria group , inc . 2019s subsidiaries will have an exclusive license to sell this heated tobacco product in the united states . distribution , competition and raw materials : altria group , inc . 2019s tobacco subsidiaries sell their tobacco products principally to wholesalers ( including distributors ) , large retail organizations , including chain stores , and the armed services . the market for tobacco products is highly competitive , characterized by brand recognition and loyalty , with product quality , taste , price , product innovation , marketing , packaging and distribution constituting the significant methods of competition . promotional activities include , in certain instances and where .
Question: what is the total units of shipment volume for cigars in 2015 , 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: |
0.28449 | 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 , 2012 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 2017 , we repurchased 37122405 shares of our common stock at an average price of $ 110.50 . the following table presents common stock repurchases during each month for the fourth quarter of 2017 : 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|3831636|$ 113.61|3800000|89078662|
|nov . 1 through nov . 30|3005225|117.07|2937410|86141252|
|dec . 1 through dec . 31|2718319|130.76|2494100|83647152|
|total|9555180|$ 119.58|9231510|n/a|
[a] total number of shares purchased during the quarter includes approximately 323670 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 percent of the total shares purchased during the fourth quarter of 2017 were purchased in december? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-0.04039 | Context:adjusted net income of $ 4.6 billion translated into adjusted earnings of $ 5.79 per diluted share , a best- ever performance . f0b7 freight revenues 2013 our freight revenues increased 7% ( 7 % ) year-over-year to $ 19.8 billion driven by volume growth of 2% ( 2 % ) , higher fuel surcharge revenue , and core pricing gains . growth in frac sand , coal , and intermodal shipments more than offset declines in grain , crude oil , finished vehicles , and rock shipments . f0b7 fuel prices 2013 our average price of diesel fuel in 2017 was $ 1.81 per gallon , an increase of 22% ( 22 % ) from 2016 , as both crude oil and conversion spreads between crude oil and diesel increased in 2017 . the higher price resulted in increased operating expenses of $ 334 million ( excluding any impact from year- over-year volume growth ) . gross-ton miles increased 5% ( 5 % ) , which also drove higher fuel expense . our fuel consumption rate , computed as gallons of fuel consumed divided by gross ton-miles in thousands , improved 2% ( 2 % ) . f0b7 free cash flow 2013 cash generated by operating activities totaled $ 7.2 billion , yielding free cash flow of $ 2.2 billion after reductions of $ 3.1 billion for cash used in investing activities and $ 2 billion in dividends , which included a 10% ( 10 % ) increase in our quarterly dividend per share from $ 0.605 to $ 0.665 declared and paid in the fourth quarter of 2017 . 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 gaap by sec regulation g and item 10 of sec regulation s-k and may not be defined and calculated by other companies in the same manner . we believe free cash flow is important to management and investors 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|2017|2016|2015|
|cash provided by operating activities|$ 7230|$ 7525|$ 7344|
|cash used in investing activities|-3086 ( 3086 )|-3393 ( 3393 )|-4476 ( 4476 )|
|dividends paid|-1982 ( 1982 )|-1879 ( 1879 )|-2344 ( 2344 )|
|free cash flow|$ 2162|$ 2253|$ 524|
2018 outlook f0b7 safety 2013 operating a safe railroad benefits all our constituents : our employees , customers , shareholders and the communities we serve . we will continue using a multi-faceted approach to safety , utilizing technology , risk assessment , training and employee engagement , quality control , and targeted capital investments . we will continue using and expanding the deployment of total safety culture and courage to care throughout our operations , which allows us to identify and implement best practices for employee and operational safety . we will continue our efforts to increase detection of rail defects ; improve or close crossings ; and educate the public and law enforcement agencies about crossing safety through a combination of our own programs ( including risk assessment strategies ) , industry programs and local community activities across our network . f0b7 network operations 2013 in 2018 , we will continue to align resources with customer demand , maintain an efficient network , and ensure surge capability of our assets . f0b7 fuel prices 2013 fuel price projections for crude oil and natural gas continue to fluctuate in the current environment . we again could see volatile fuel prices during the year , as they are sensitive to global and u.s . domestic demand , refining capacity , geopolitical events , weather conditions and other factors . as prices fluctuate , there will be a timing impact on earnings , as our fuel surcharge programs trail increases or decreases in fuel price by approximately two months . lower fuel prices could have a positive impact on the economy by increasing consumer discretionary spending that potentially could increase demand for various consumer products that we transport . alternatively , lower fuel prices could likely have a negative impact on other commodities such as coal and domestic drilling-related shipments. .
Question: what was the percentage change in free cash flow 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: |
0.05028 | Context:the company has a restricted stock plan for non-employee directors which reserves for issuance of 300000 shares of the company 2019s common stock . no restricted shares were issued in 2009 . the company has a directors 2019 deferral plan , which provides a means to defer director compensation , from time to time , on a deferred stock or cash basis . as of september 30 , 2009 , 86643 shares were held in trust , of which 4356 shares represented directors 2019 compensation in 2009 , in accordance with the provisions of the plan . under this plan , which is unfunded , directors have an unsecured contractual commitment from the company . the company also has a deferred compensation plan that allows certain highly-compensated employees , including executive officers , to defer salary , annual incentive awards and certain equity-based compensation . as of september 30 , 2009 , 557235 shares were issuable under this plan . note 16 2014 earnings per share the weighted average common shares used in the computations of basic and diluted earnings per share ( shares in thousands ) for the years ended september 30 were as follows: .
||2009|2008|2007|
|average common shares outstanding|240479|244323|244929|
|dilutive share equivalents from share-based plans|6319|8358|9881|
|average common and common equivalent sharesoutstanding 2014 assuming dilution|246798|252681|254810|
average common and common equivalent shares outstanding 2014 assuming dilution . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 246798 252681 254810 note 17 2014 segment data the company 2019s organizational structure is based upon its three principal business segments : bd medical ( 201cmedical 201d ) , bd diagnostics ( 201cdiagnostics 201d ) and bd biosciences ( 201cbiosciences 201d ) . the principal product lines in the medical segment include needles , syringes and intravenous catheters for medication delivery ; safety-engineered and auto-disable devices ; prefilled iv flush syringes ; syringes and pen needles for the self-injection of insulin and other drugs used in the treatment of diabetes ; prefillable drug delivery devices provided to pharmaceutical companies and sold to end-users as drug/device combinations ; surgical blades/scalpels and regional anesthesia needles and trays ; critical care monitoring devices ; ophthalmic surgical instruments ; and sharps disposal containers . the principal products and services in the diagnostics segment include integrated systems for specimen collection ; an extensive line of safety-engineered specimen blood collection products and systems ; plated media ; automated blood culturing systems ; molecular testing systems for sexually transmitted diseases and healthcare-associated infections ; microorganism identification and drug susceptibility systems ; liquid-based cytology systems for cervical cancer screening ; and rapid diagnostic assays . the principal product lines in the biosciences segment include fluorescence activated cell sorters and analyzers ; cell imaging systems ; monoclonal antibodies and kits for performing cell analysis ; reagent systems for life sciences research ; tools to aid in drug discovery and growth of tissue and cells ; cell culture media supplements for biopharmaceutical manufacturing ; and diagnostic assays . the company evaluates performance of its business segments based upon operating income . segment operating income represents revenues reduced by product costs and operating expenses . the company hedges against certain forecasted sales of u.s.-produced products sold outside the united states . gains and losses associated with these foreign currency translation hedges are reported in segment revenues based upon their proportionate share of these international sales of u.s.-produced products . becton , dickinson and company notes to consolidated financial statements 2014 ( continued ) .
Question: as of september 30 , 2009 , what percentage of trust-held shares represented directors' compensation? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.00763 | Context:10-k altria ar release tuesday , february 27 , 2018 10:00pm andra design llc the relative percentages of operating companies income ( loss ) attributable to each reportable segment and the all other category were as follows: .
||2017|2016|2015|
|smokeable products|85.8% ( 85.8 % )|86.2% ( 86.2 % )|87.4% ( 87.4 % )|
|smokeless products|13.2|13.1|12.8|
|wine|1.5|1.8|1.8|
|all other|-0.5 ( 0.5 )|-1.1 ( 1.1 )|-2.0 ( 2.0 )|
|total|100.0% ( 100.0 % )|100.0% ( 100.0 % )|100.0% ( 100.0 % )|
for items affecting the comparability of the relative percentages of operating companies income ( loss ) attributable to each reportable segment , see note 15 . narrative description of business portions of the information called for by this item are included in operating results by business segment in item 7 . management 2019s discussion and analysis of financial condition and results of operations of this annual report on form 10-k ( 201citem 7 201d ) . tobacco space altria group , inc . 2019s tobacco operating companies include pm usa , usstc and other subsidiaries of ust , middleton , nu mark and nat sherman . altria group distribution company provides sales and distribution services to altria group , inc . 2019s tobacco operating companies . the products of altria group , inc . 2019s tobacco subsidiaries include smokeable tobacco products , consisting of cigarettes manufactured and sold by pm usa and nat sherman , machine- made large cigars and pipe tobacco manufactured and sold by middleton and premium cigars sold by nat sherman ; smokeless tobacco products manufactured and sold by usstc ; and innovative tobacco products , including e-vapor products manufactured and sold by nu mark . cigarettes : pm usa is the largest cigarette company in the united states . marlboro , the principal cigarette brand of pm usa , has been the largest-selling cigarette brand in the united states for over 40 years . nat sherman sells substantially all of its super premium cigarettes in the united states . total smokeable products segment 2019s cigarettes shipment volume in the united states was 116.6 billion units in 2017 , a decrease of 5.1% ( 5.1 % ) from cigars : middleton is engaged in the manufacture and sale of machine-made large cigars and pipe tobacco . middleton contracts with a third-party importer to supply a majority of its cigars and sells substantially all of its cigars to customers in the united states . black & mild is the principal cigar brand of middleton . nat sherman sources all of its cigars from third-party suppliers and sells substantially all of its cigars to customers in the united states . total smokeable products segment 2019s cigars shipment volume was approximately 1.5 billion units in 2017 , an increase of 9.9% ( 9.9 % ) from 2016 . smokeless tobacco products : usstc is the leading producer and marketer of moist smokeless tobacco ( 201cmst 201d ) products . the smokeless products segment includes the premium brands , copenhagen and skoal , and value brands , red seal and husky . substantially all of the smokeless tobacco products are manufactured and sold to customers in the united states . total smokeless products segment 2019s shipment volume was 841.3 million units in 2017 , a decrease of 1.4% ( 1.4 % ) from 2016 . innovative tobacco products : nu mark participates in the e-vapor category and has developed and commercialized other innovative tobacco products . in addition , nu mark sources the production of its e-vapor products through overseas contract manufacturing arrangements . in 2013 , nu mark introduced markten e-vapor products . in april 2014 , nu mark acquired the e-vapor business of green smoke , inc . and its affiliates ( 201cgreen smoke 201d ) , which began selling e-vapor products in 2009 . in 2017 , altria group , inc . 2019s subsidiaries purchased certain intellectual property related to innovative tobacco products . in december 2013 , altria group , inc . 2019s subsidiaries entered into a series of agreements with philip morris international inc . ( 201cpmi 201d ) pursuant to which altria group , inc . 2019s subsidiaries provide an exclusive license to pmi to sell nu mark 2019s e-vapor products outside the united states , and pmi 2019s subsidiaries provide an exclusive license to altria group , inc . 2019s subsidiaries to sell two of pmi 2019s heated tobacco product platforms in the united states . further , in july 2015 , altria group , inc . announced the expansion of its strategic framework with pmi to include a joint research , development and technology-sharing agreement . under this agreement , altria group , inc . 2019s subsidiaries and pmi will collaborate to develop e-vapor products for commercialization in the united states by altria group , inc . 2019s subsidiaries and in markets outside the united states by pmi . this agreement also provides for exclusive technology cross licenses , technical information sharing and cooperation on scientific assessment , regulatory engagement and approval related to e-vapor products . in the fourth quarter of 2016 , pmi submitted a modified risk tobacco product ( 201cmrtp 201d ) application for an electronically heated tobacco product with the united states food and drug administration 2019s ( 201cfda 201d ) center for tobacco products and filed its corresponding pre-market tobacco product application in the first quarter of 2017 . upon regulatory authorization by the fda , altria group , inc . 2019s subsidiaries will have an exclusive license to sell this heated tobacco product in the united states . distribution , competition and raw materials : altria group , inc . 2019s tobacco subsidiaries sell their tobacco products principally to wholesalers ( including distributors ) , large retail organizations , including chain stores , and the armed services . the market for tobacco products is highly competitive , characterized by brand recognition and loyalty , with product quality , taste , price , product innovation , marketing , packaging and distribution constituting the significant methods of competition . promotional activities include , in certain instances and where permitted by law , allowances , the distribution of incentive items , price promotions , product promotions , coupons and other discounts. .
Question: what is the percentage change in the weight of smokeless products 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: |
716.0 | Context:2009 levels , we returned a portion of these assets to active service . at the end of 2010 , we continued to maintain in storage approximately 17% ( 17 % ) of our multiple purpose locomotives and 14% ( 14 % ) of our freight car inventory , reflecting our ability to effectively leverage our assets as volumes return to our network . 2022 fuel prices 2013 fuel prices generally increased throughout 2010 as the economy improved . our average diesel fuel price per gallon increased nearly 20% ( 20 % ) from january to december of 2010 , driven by higher crude oil barrel prices and conversion spreads . compared to 2009 , our diesel fuel price per gallon consumed increased 31% ( 31 % ) , driving operating expenses up by $ 566 million ( excluding any impact from year-over-year volume increases ) . to partially offset the effect of higher fuel prices , we reduced our consumption rate by 3% ( 3 % ) during the year , saving approximately 27 million gallons of fuel . the use of newer , more fuel efficient locomotives ; increased use of distributed locomotive power ( the practice of distributing locomotives throughout a train rather than positioning them all in the lead resulting in safer and more efficient train operations ) ; fuel conservation programs ; and efficient network operations and asset utilization all contributed to this improvement . 2022 free cash flow 2013 cash generated by operating activities ( adjusted for the reclassification of our receivables securitization facility ) totaled $ 4.5 billion , yielding record free cash flow of $ 1.4 billion in 2010 . free cash flow is defined as cash provided by operating activities ( adjusted for the reclassification of our receivables securitization facility ) , 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 u.s . ( 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 2010 2009 2008 .
|millions|2010|2009|2008|
|cash provided by operating activities|$ 4105|$ 3204|$ 4044|
|receivables securitization facility [a]|400|184|16|
|cash provided by operating activitiesadjusted for the receivables securitizationfacility|4505|3388|4060|
|cash used in investing activities|-2488 ( 2488 )|-2145 ( 2145 )|-2738 ( 2738 )|
|dividends paid|-602 ( 602 )|-544 ( 544 )|-481 ( 481 )|
|free cash flow|$ 1415|$ 699|$ 841|
[a] effective january 1 , 2010 , a new accounting standard required us to account for receivables transferred under our receivables securitization facility as secured borrowings in our consolidated statements of financial position and as financing activities in our consolidated statements of cash flows . the receivables securitization facility is included in our free cash flow calculation to adjust cash provided by operating activities as though our receivables securitization facility had been accounted for under the new accounting standard for all periods presented . 2011 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 will continue implementing total safety culture ( tsc ) throughout our operations . tsc is designed to establish , maintain , reinforce , and promote safe practices among co-workers . this process allows us to identify and implement best practices for employee and operational safety . reducing grade crossing incidents is a critical aspect of our safety programs , and we will continue our efforts to maintain and close crossings ; install video cameras on locomotives ; and educate the public and law enforcement agencies about crossing safety through a combination of our own programs ( including risk assessment strategies ) , various industry programs , and engaging local communities . 2022 transportation plan 2013 to build upon our success in recent years , we will continue evaluating traffic flows and network logistic patterns , which can be quite dynamic , to identify additional opportunities to simplify operations , remove network variability , and improve network efficiency and asset utilization . we plan to adjust manpower and our locomotive and rail car fleets to meet customer needs and put .
Question: what is the mathematical range , in millions , for total free cash flow from 2008-2010? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.21962 | Context:amount of commitment expiration per period other commercial commitments after millions total 2013 2014 2015 2016 2017 2017 .
|other commercial commitmentsmillions|total|amount of commitment expiration per period 2013|amount of commitment expiration per period 2014|amount of commitment expiration per period 2015|amount of commitment expiration per period 2016|amount of commitment expiration per period 2017|amount of commitment expiration per period after 2017|
|credit facilities [a]|$ 1800|$ -|$ -|$ 1800|$ -|$ -|$ -|
|receivables securitization facility [b]|600|600|-|-|-|-|-|
|guarantees [c]|307|8|214|12|30|10|33|
|standby letters of credit [d]|25|24|1|-|-|-|-|
|total commercialcommitments|$ 2732|$ 632|$ 215|$ 1812|$ 30|$ 10|$ 33|
[a] none of the credit facility was used as of december 31 , 2012 . [b] $ 100 million of the receivables securitization facility was utilized at december 31 , 2012 , which is accounted for as debt . the full program matures in july 2013 . [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 , 2012 . off-balance sheet arrangements guarantees 2013 at december 31 , 2012 , we were contingently liable for $ 307 million in guarantees . we have recorded a liability of $ 2 million for the fair value of these obligations as of december 31 , 2012 and 2011 . we entered into these contingent guarantees in the normal course of business , and they include guaranteed obligations related to our headquarters building , equipment financings , and affiliated operations . the final guarantee expires in 2022 . we are not aware of any existing event of default that would require us to satisfy these guarantees . we do not expect that these guarantees will have a material adverse effect on our consolidated financial condition , results of operations , or liquidity . other matters labor agreements 2013 approximately 86% ( 86 % ) of our 45928 full-time-equivalent employees are represented by 14 major rail unions . during the year , we concluded the most recent round of negotiations , which began in 2010 , with the ratification of new agreements by several unions that continued negotiating into 2012 . all of the unions executed similar multi-year agreements that provide for higher employee cost sharing of employee health and welfare benefits and higher wages . the current agreements will remain in effect until renegotiated under provisions of the railway labor act . the next round of negotiations will begin in early 2015 . inflation 2013 long periods of inflation significantly increase asset replacement costs for capital-intensive companies . as a result , assuming that we replace all operating assets at current price levels , depreciation charges ( on an inflation-adjusted basis ) would be substantially greater than historically reported amounts . derivative financial instruments 2013 we may use derivative financial instruments in limited instances 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 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 , 2012 and 2011 , we were not required to provide collateral , nor had we received collateral , relating to our hedging activities. .
Question: what percentage of total commercial commitments are receivables securitization facility? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.09841 | Context:advance auto parts , inc . and subsidiaries notes to the consolidated financial statements december 31 , 2016 , january 2 , 2016 and january 3 , 2015 ( in thousands , except per share data ) 2 . inventories , net : merchandise inventory the company used the lifo method of accounting for approximately 89% ( 89 % ) of inventories at both december 31 , 2016 and january 2 , 2016 . 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 2016 and prior years . as a result of utilizing lifo , the company recorded a reduction to cost of sales of $ 40711 and $ 42295 in 2016 and 2015 , respectively , and an increase to cost of sales of $ 8930 in 2014 . historically , the company 2019s overall costs to acquire inventory for the same or similar products have generally decreased as the company has been able to leverage its continued growth and execution of merchandise strategies . the increase in cost of sales for 2014 was the result of an increase in supply chain costs . product cores the remaining inventories are comprised of product cores , the non-consumable portion of certain parts and batteries and the inventory of certain subsidiaries , which are valued under the first-in , first-out ( 201cfifo 201d ) method . product cores are included as part of the company 2019s 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 2019s 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 as of december 31 , 2016 and january 2 , 2016 , were $ 395240 and $ 359829 , respectively . inventory balance and inventory reserves inventory balances at the end of 2016 and 2015 were as follows : december 31 , january 2 .
||december 312016|january 22016|
|inventories at fifo net|$ 4120030|$ 4009641|
|adjustments to state inventories at lifo|205838|165127|
|inventories at lifo net|$ 4325868|$ 4174768|
inventory quantities are tracked through a perpetual inventory system . the company completes physical inventories and other targeted inventory counts in its store locations to ensure the accuracy of the perpetual inventory quantities of merchandise and core inventory . in its distribution centers and branches , the company uses a cycle counting program to ensure the accuracy of the perpetual inventory quantities of merchandise and product core inventory . reserves for estimated shrink are established based on the results of physical inventories conducted by the company and other targeted inventory counts in its stores , results from recent cycle counts in its distribution facilities and historical and current loss trends . the company also establishes reserves for potentially excess and obsolete inventories based on ( i ) current inventory levels , ( ii ) the historical analysis of product sales and ( iii ) current market conditions . the company has return rights with many of its vendors and the majority of excess inventory is returned to its vendors for full credit . in certain situations , the company establishes reserves when less than full credit is expected from a vendor or when liquidating product will result in retail prices below recorded costs. .
Question: how much did the inventory overhead costs purchasing and warehousing costs increase in the year of 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: |
0.28665 | Context:volume declines in cement , some agricultural products , and newsprint shipments partially offset the increases . operating expenses millions of dollars 2008 2007 2006 % ( % ) change 2008 v 2007 % ( % ) change 2007 v 2006 .
|millions of dollars|2008|2007|2006|% ( % ) change 2008 v 2007|% ( % ) change 2007 v 2006|
|compensation and benefits|$ 4457|$ 4526|$ 4535|( 2 ) % ( % )|-% ( - % )|
|fuel|3983|3104|2968|28|5|
|purchased services and materials|1902|1856|1756|2|6|
|depreciation|1387|1321|1237|5|7|
|equipment and other rents|1326|1368|1396|-3 ( 3 )|-2 ( 2 )|
|other|840|733|802|15|-9 ( 9 )|
|total|$ 13895|$ 12908|$ 12694|8 % ( % )|2% ( 2 % )|
operating expenses increased $ 987 million in 2008 . our fuel price per gallon rose 39% ( 39 % ) during the year , increasing operating expenses by $ 1.1 billion compared to 2007 . wage , benefit , and materials inflation , higher depreciation , and costs associated with the january cascade mudslide and hurricanes gustav and ike also increased expenses during the year . cost savings from productivity improvements , better resource utilization , and lower volume helped offset these increases . operating expenses increased $ 214 million in 2007 versus 2006 . higher fuel prices , which rose 9% ( 9 % ) during the period , increased operating expenses by $ 242 million . wage , benefit and materials inflation and higher depreciation expense also increased expenses during the year . productivity improvements , better resource utilization , and a lower fuel consumption rate helped offset these increases . compensation and benefits 2013 compensation and benefits include wages , payroll taxes , health and welfare costs , pension costs , other postretirement benefits , and incentive costs . productivity initiatives in all areas , combined with lower volume , led to a 4% ( 4 % ) decline in our workforce for 2008 , saving $ 227 million compared to 2007 . conversely , general wage and benefit inflation and higher pension and postretirement benefits increased expenses in 2008 , partially offsetting these reductions . operational improvements and lower volume levels in 2007 led to a 1% ( 1 % ) decline in our workforce , saving $ 79 million in 2007 compared to 2006 . a smaller workforce and less need for new train personnel reduced training costs during the year , which contributed to the improvement . general wage and benefit inflation mostly offset the reductions , reflecting higher salaries and wages and the impact of higher healthcare and other benefit costs . fuel 2013 fuel includes locomotive fuel and gasoline for highway and non-highway vehicles and heavy equipment . diesel fuel prices , which averaged $ 3.15 per gallon ( including taxes and transportation costs ) in 2008 compared to $ 2.27 per gallon in 2007 , increased expenses by $ 1.1 billion . a 4% ( 4 % ) improvement in our fuel consumption rate resulted in $ 136 million of cost savings due to the use of newer , more fuel 2008 operating expenses .
Question: what percent of total operating expenses was fuel 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: |
4.0 | Context:the impairment tests performed for intangible assets as of july 31 , 2013 , 2012 and 2011 indicated no impairment charges were required . estimated amortization expense for finite-lived intangible assets for each of the five succeeding years is as follows : ( in millions ) .
|year|amount|
|2014|$ 156|
|2015|126|
|2016|91|
|2017|74|
|2018|24|
indefinite-lived acquired management contracts in july 2013 , in connection with the credit suisse etf transaction , the company acquired $ 231 million of indefinite-lived management contracts . in march 2012 , in connection with the claymore transaction , the company acquired $ 163 million of indefinite-lived etp management contracts . finite-lived acquired management contracts in october 2013 , in connection with the mgpa transaction , the company acquired $ 29 million of finite-lived management contracts with a weighted-average estimated useful life of approximately eight years . in september 2012 , in connection with the srpep transaction , the company acquired $ 40 million of finite- lived management contracts with a weighted-average estimated useful life of approximately 10 years . 11 . other assets at march 31 , 2013 , blackrock held an approximately one- third economic equity interest in private national mortgage acceptance company , llc ( 201cpnmac 201d ) , which is accounted for as an equity method investment and is included in other assets on the consolidated statements of financial condition . on may 8 , 2013 , pennymac became the sole managing member of pnmac in connection with an initial public offering of pennymac ( the 201cpennymac ipo 201d ) . as a result of the pennymac ipo , blackrock recorded a noncash , nonoperating pre-tax gain of $ 39 million related to the carrying value of its equity method investment . subsequent to the pennymac ipo , the company contributed 6.1 million units of its investment to a new donor advised fund ( the 201ccharitable contribution 201d ) . the fair value of the charitable contribution was $ 124 million and is included in general and administration expenses on the consolidated statements of income . in connection with the charitable contribution , the company also recorded a noncash , nonoperating pre-tax gain of $ 80 million related to the contributed investment and a tax benefit of approximately $ 48 million . the carrying value and fair value of the company 2019s remaining interest ( approximately 20% ( 20 % ) or 16 million shares and units ) was approximately $ 127 million and $ 273 million , respectively , at december 31 , 2013 . the fair value of the company 2019s interest reflected the pennymac stock price at december 31 , 2013 ( level 1 input ) . 12 . borrowings short-term borrowings the carrying value of short-term borrowings at december 31 , 2012 included $ 100 million under the 2012 revolving credit facility . 2013 revolving credit facility . in march 2011 , the company entered into a five-year $ 3.5 billion unsecured revolving credit facility ( the 201c2011 credit facility 201d ) . in march 2012 , the 2011 credit facility was amended to extend the maturity date by one year to march 2017 and in april 2012 the amount of the aggregate commitment was increased to $ 3.785 billion ( the 201c2012 credit facility 201d ) . in march 2013 , the company 2019s credit facility was amended to extend the maturity date by one year to march 2018 and the amount of the aggregate commitment was increased to $ 3.990 billion ( the 201c2013 credit facility 201d ) . the 2013 credit facility permits the company to request up to an additional $ 1.0 billion of borrowing capacity , subject to lender credit approval , increasing the overall size of the 2013 credit facility to an aggregate principal amount not to exceed $ 4.990 billion . interest on borrowings outstanding accrues at a rate based on the applicable london interbank offered rate plus a spread . the 2013 credit facility requires the company not to exceed a maximum leverage ratio ( ratio of net debt to earnings before interest , taxes , depreciation and amortization , where net debt equals total debt less unrestricted cash ) of 3 to 1 , which was satisfied with a ratio of less than 1 to 1 at december 31 , 2013 . the 2013 credit facility provides back- up liquidity , funds ongoing working capital for general corporate purposes and funds various investment opportunities . at december 31 , 2013 , the company had no amount outstanding under the 2013 credit facility . commercial paper program . on october 14 , 2009 , blackrock established a commercial paper program ( the 201ccp program 201d ) under which the company could issue unsecured commercial paper notes ( the 201ccp notes 201d ) on a private placement basis up to a maximum aggregate amount outstanding at any time of $ 3.0 billion . on may 13 , 2011 , blackrock increased the maximum aggregate amount that may be borrowed under the cp program to $ 3.5 billion . on may 17 , 2012 , blackrock increased the maximum aggregate amount to $ 3.785 billion . in april 2013 , blackrock increased the maximum aggregate amount for which the company could issue unsecured cp notes on a private-placement basis up to a maximum aggregate amount outstanding at any time of $ 3.990 billion . the commercial paper program is currently supported by the 2013 credit facility . at december 31 , 2013 and 2012 , blackrock had no cp notes outstanding. .
Question: what is the annual amortization expense related to srpep transaction of 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: |
0.00697 | Context:( 2 ) the company has a master netting arrangement by counterparty with respect to derivative contracts . as of october 29 , 2011 and october 30 , 2010 , contracts in a liability position of $ 0.8 million in each year , were netted against contracts in an asset position in the consolidated balance sheets . ( 3 ) equal to the accreted notional value of the debt plus the fair value of the interest rate component of the long- term debt . the fair value of the long-term debt as of october 29 , 2011 and october 30 , 2010 was $ 413.4 million and $ 416.3 million , respectively . the following methods and assumptions were used by the company in estimating its fair value disclosures for financial instruments : cash equivalents and short-term investments 2014 these investments are adjusted to fair value based on quoted market prices or are determined using a yield curve model based on current market rates . deferred compensation plan investments and other investments 2014 the fair value of these mutual fund , money market fund and equity investments are based on quoted market prices . long-term debt 2014 the fair value of long-term debt is based on quotes received from third-party banks . interest rate swap agreements 2014 the fair value of interest rate swap agreements is based on quotes received from third-party banks . these values represent the estimated amount the company would receive or pay to terminate the agreements taking into consideration current interest rates as well as the creditworthiness of the counterparty . forward foreign currency exchange contracts 2014 the estimated fair value of forward foreign currency exchange contracts , which includes derivatives that are accounted for as cash flow hedges and those that are not designated as cash flow hedges , is based on the estimated amount the company would receive if it sold these agreements at the reporting date taking into consideration current interest rates as well as the creditworthiness of the counterparty for assets and the company 2019s creditworthiness for liabilities . contingent consideration 2014 the fair value of contingent consideration was estimated utilizing the income approach and is based upon significant inputs not observable in the market . changes in the fair value of the contingent consideration subsequent to the acquisition date that are primarily driven by assumptions pertaining to the achievement of the defined milestones will be recognized in operating income in the period of the estimated fair value change . the following table summarizes the change in the fair value of the contingent consideration measured using significant unobservable inputs ( level 3 ) for fiscal 2011 : contingent consideration .
||contingent consideration|
|balance as of october 30 2010|$ 2014|
|contingent consideration liability recorded|13790|
|fair value adjustment|183|
|balance as of october 29 2011|$ 13973|
financial instruments not recorded at fair value on a recurring basis on april 4 , 2011 , the company issued $ 375 million aggregate principal amount of 3.0% ( 3.0 % ) senior unsecured notes due april 15 , 2016 ( the 3.0% ( 3.0 % ) notes ) with semi-annual fixed interest payments due on april 15 and october 15 of each year , commencing october 15 , 2011 . the fair value of the 3.0% ( 3.0 % ) notes as of october 29 , 2011 was $ 392.8 million , based on quotes received from third-party banks . analog devices , inc . notes to consolidated financial statements 2014 ( continued ) .
Question: what percentage of long-term debt was paid off from 2010 to 2011? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.23229 | Context:operating expenses millions 2014 2013 2012 % ( % ) change 2014 v 2013 % ( % ) change 2013 v 2012 .
|millions|2014|2013|2012|% ( % ) change 2014 v 2013|% ( % ) change 2013 v 2012|
|compensation and benefits|$ 5076|$ 4807|$ 4685|6% ( 6 % )|3% ( 3 % )|
|fuel|3539|3534|3608|-|-2 ( 2 )|
|purchased services and materials|2558|2315|2143|10|8|
|depreciation|1904|1777|1760|7|1|
|equipment and other rents|1234|1235|1197|-|3|
|other|924|849|788|9|8|
|total|$ 15235|$ 14517|$ 14181|5% ( 5 % )|2% ( 2 % )|
operating expenses increased $ 718 million in 2014 versus 2013 . volume-related expenses , incremental costs associated with operating a slower network , depreciation , wage and benefit inflation , and locomotive and freight car materials contributed to the higher costs . lower fuel price partially offset these increases . in addition , there were approximately $ 35 million of weather related costs in the first quarter of 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 . compensation and benefits 2013 compensation and benefits include wages , payroll taxes , health and welfare costs , pension costs , other postretirement benefits , and incentive costs . volume-related expenses , including training , and a slower network increased our train and engine work force , which , along with general wage and benefit inflation , drove increased wages . weather-related costs in the first quarter of 2014 also increased costs . general wages and benefits inflation , including increased pension and other postretirement benefits , and higher work force levels drove the increases in 2013 versus 2012 . the impact of ongoing productivity initiatives partially offset these increases . fuel 2013 fuel includes locomotive fuel and gasoline for highway and non-highway vehicles and heavy equipment . volume growth of 7% ( 7 % ) , as measured by gross ton-miles , drove the increase in fuel expense . this was essentially offset by lower locomotive diesel fuel prices , which averaged $ 2.97 per gallon ( including taxes and transportation costs ) in 2014 , compared to $ 3.15 in 2013 , along with a slight improvement in fuel consumption rate , computed as gallons of fuel consumed divided by gross ton-miles . 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 . 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 supplies . expenses for purchased services increased 8% ( 8 % ) compared to 2013 primarily due to volume- 2014 operating expenses .
Question: what percentage of total operating expenses was fuel in 2014? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.23636 | Context:note 9 2014 benefit plans the company has defined benefit pension plans covering certain employees in the united states and certain international locations . postretirement healthcare and life insurance benefits provided to qualifying domestic retirees as well as other postretirement benefit plans in international countries are not material . the measurement date used for the company 2019s employee benefit plans is september 30 . effective january 1 , 2018 , the legacy u.s . pension plan was frozen to limit the participation of employees who are hired or re-hired by the company , or who transfer employment to the company , on or after january 1 , net pension cost for the years ended september 30 included the following components: .
|( millions of dollars )|pension plans 2019|pension plans 2018|pension plans 2017|
|service cost|$ 134|$ 136|$ 110|
|interest cost|107|90|61|
|expected return on plan assets|( 180 )|( 154 )|( 112 )|
|amortization of prior service credit|( 13 )|( 13 )|( 14 )|
|amortization of loss|78|78|92|
|settlements|10|2|2014|
|net pension cost|$ 135|$ 137|$ 138|
|net pension cost included in the preceding table that is attributable to international plans|$ 32|$ 34|$ 43|
net pension cost included in the preceding table that is attributable to international plans $ 32 $ 34 $ 43 the amounts provided above for amortization of prior service credit and amortization of loss represent the reclassifications of prior service credits and net actuarial losses that were recognized in accumulated other comprehensive income ( loss ) in prior periods . the settlement losses recorded in 2019 and 2018 primarily included lump sum benefit payments associated with the company 2019s u.s . supplemental pension plan . the company recognizes pension settlements when payments from the supplemental plan exceed the sum of service and interest cost components of net periodic pension cost associated with this plan for the fiscal year . as further discussed in note 2 , upon adopting an accounting standard update on october 1 , 2018 , all components of the company 2019s net periodic pension and postretirement benefit costs , aside from service cost , are recorded to other income ( expense ) , net on its consolidated statements of income , for all periods presented . notes to consolidated financial statements 2014 ( continued ) becton , dickinson and company .
Question: what is the percentage increase in service costs 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: |
0.09 | Context:determined that it was the primary beneficiary of the 2001 financing entities and thus consolidated the entities effective march 16 , 2011 . effective april 30 , 2011 , international paper liquidated its interest in the 2001 financing entities . activity between the company and the 2002 financ- ing entities was as follows: .
|in millions|2012|2011|2010|
|revenue ( loss ) ( a )|$ 2014|$ 2|$ 5|
|expense ( b )|2014|3|8|
|cash receipts ( c )|252|192|3|
|cash payments ( d )|159|244|8|
( a ) the revenue is included in equity earnings ( loss ) , net of tax in the accompanying consolidated statement of operations . ( b ) the expense is included in interest expense , net in the accom- panying consolidated statement of operations . ( c ) the cash receipts are equity distributions from the 2002 financ- ing entities to international paper and cash receipts from the maturity of the 2002 monetized notes . ( d ) the cash payments include both interest and principal on the associated debt obligations . on may 31 , 2011 , the third-party equity holder of the 2002 financing entities retired its class a interest in the entities for $ 51 million . as a result of the retire- ment , effective may 31 , 2011 , international paper owned 100% ( 100 % ) of the 2002 financing entities . based on an analysis performed by the company after the retirement , under guidance that considers the poten- tial magnitude of the variability in the structure and which party has controlling financial interest , international paper determined that it was the pri- mary beneficiary of the 2002 financing entities and thus consolidated the entities effective may 31 , 2011 . during the year ended december 31 , 2011 approx- imately $ 191 million of the 2002 monetized notes matured . outstanding debt related to these entities of $ 158 million is included in floating rate notes due 2011 2013 2017 in the summary of long-term debt in note 12 at december 31 , 2011 . as of may 31 , 2012 , this debt had been repaid . during the year ended december 31 , 2012 , $ 252 mil- lion of the 2002 monetized notes matured . as of result of these maturities , accounts and notes receivable decreased $ 252 million and notes payable and current maturities of long-term debt decreased $ 158 million . deferred tax liabilities associated with the 2002 forestland installment sales decreased $ 67 million . effective june 1 , 2012 , international paper liquidated its interest in the 2002 financing entities . the use of the above entities facilitated the mone- tization of the credit enhanced timber and mone- tized notes in a cost effective manner by increasing the borrowing capacity and lowering the interest rate while continuing to preserve the tax deferral that resulted from the forestlands installment sales and the offset accounting treatment described above . in connection with the acquisition of temple-inland in february 2012 , two special purpose entities became wholly-owned subsidiaries of international paper . in october 2007 , temple-inland sold 1.55 million acres of timberlands for $ 2.38 billion . the total con- sideration consisted almost entirely of notes due in 2027 issued by the buyer of the timberlands , which temple-inland contributed to two wholly-owned , bankruptcy-remote special purpose entities . the notes are shown in financial assets of special pur- pose 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 rat- ings on their long-term debt . in the third quarter of 2012 , international paper completed is preliminary analysis of the acquisition date fair value of the notes and determined it to be $ 2.09 billion . as a result of this analysis , financial assets of special purposed entities decreased by $ 292 million and goodwill increased by the same amount . as of december 31 , 2012 , the fair value of the notes was $ 2.21 billion . in december 2007 , temple-inland 2019s two wholly- owned special purpose entities borrowed $ 2.14 bil- lion shown in nonrecourse financial liabilities of special purpose entities in the accompanying con- solidated balance sheet . 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 the company . the loan agreements provide that if a credit rating of any of the banks issuing the letters of credit is down- graded 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 analy- sis of the acquisition date fair value of the borrow- ings and determined it to be $ 2.03 billion . as a result of this analysis , nonrecourse financial liabilities of special purpose entities decreased by $ 110 million and goodwill decreased by the same amount . as of december 31 , 2012 , the fair value of this debt was $ 2.12 billion . the buyer of the temple-inland timberland issued the $ 2.38 billion in notes from its wholly-owned , bankruptcy-remote special purpose entities . the buyer 2019s special purpose entities held the timberlands from the transaction date until november 2008 , at which time the timberlands were transferred out of the buyer 2019s special purpose entities . due to the transfer of the timberlands , temple-inland evaluated the buyer 2019s special purpose entities and determined that they were variable interest entities and that temple-inland was the primary beneficiary . as a result , in 2008 , temple-inland .
Question: what was the change in the fair value of the debt acquisition date fair value of the borrow- ings | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
4.83514 | Context:latin american investments during 2009 , the company acquired a land parcel located in rio clara , brazil through a newly formed consolidated joint venture in which the company has a 70% ( 70 % ) controlling ownership interest for a purchase price of 3.3 million brazilian reals ( approximately usd $ 1.5 million ) . this parcel will be developed into a 48000 square foot retail shopping center . additionally , during 2009 , the company acquired a land parcel located in san luis potosi , mexico , through an unconsolidated joint venture in which the company has a noncontrolling interest , for an aggregate purchase price of approximately $ 0.8 million . the company recognized equity in income from its unconsolidated mexican investments in real estate joint ventures of approximately $ 7.0 million , $ 17.1 million , and $ 5.2 million during 2009 , 2008 and 2007 , respectively . the company recognized equity in income from its unconsolidated chilean investments in real estate joint ventures of approximately $ 0.4 million , $ 0.2 and $ 0.1 million during 2009 , 2008 and 2007 , respectively . the company 2019s revenues from its consolidated mexican subsidiaries aggregated approximately $ 23.4 million , $ 20.3 million , $ 8.5 million during 2009 , 2008 and 2007 , respectively . the company 2019s revenues from its consolidated brazilian subsidiaries aggregated approximately $ 1.5 million and $ 0.4 million during 2009 and 2008 , respectively . the company 2019s revenues from its consolidated chilean subsidiaries aggregated less than $ 100000 during 2009 and 2008 , respectively . mortgages and other financing receivables during 2009 , the company provided financing to five borrowers for an aggregate amount of approximately $ 8.3 million . during 2009 , the company received an aggregate of approximately $ 40.4 million which fully paid down the outstanding balance on four mortgage receivables . as of december 31 , 2009 , the company had 37 loans with total commitments of up to $ 178.9 million , of which approximately $ 131.3 million has been funded . availability under the company 2019s revolving credit facilities are expected to be sufficient to fund these remaining commitments . ( see note 10 of the notes to consolidated financial statements included in this annual report on form 10-k. ) asset impairments on a continuous basis , management assesses whether there are any indicators , including property operating performance and general market conditions , that the value of the company 2019s assets ( including any related amortizable intangible assets or liabilities ) may be impaired . to the extent impairment has occurred , the carrying value of the asset would be adjusted to an amount to reflect the estimated fair value of the asset . during 2009 , economic conditions had continued to experience volatility resulting in further declines in the real estate and equity markets . year over year increases in capitalization rates , discount rates and vacancies as well as the deterioration of real estate market fundamentals , negatively impacted net operating income and leasing which further contributed to declines in real estate markets in general . as a result of the volatility and declining market conditions described above , as well as the company 2019s strategy in relation to certain of its non-retail assets , the company recognized non-cash impairment charges during 2009 , aggregating approximately $ 175.1 million , before income tax benefit of approximately $ 22.5 million and noncontrolling interests of approximately $ 1.2 million . details of these non-cash impairment charges are as follows ( in millions ) : .
|impairment of property carrying values|$ 50.0|
|real estate under development|2.1|
|investments in other real estate investments|49.2|
|marketable securities and other investments|30.1|
|investments in real estate joint ventures|43.7|
|total impairment charges|$ 175.1|
( see notes 2 , 6 , 8 , 9 , 10 and 11 of the notes to consolidated financial statements included in this annual report on form 10-k. ) .
Question: as of dec 31 , 2009 , what was the average loan commitment for the company for all of its total loan commitments , 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: |
1883.33333 | Context:item 7 . management 2019s discussion and analysis of financial condition and results of operations executive summary international paper company reported net sales of $ 23.4 billion in 2009 , compared with $ 24.8 billion in 2008 and $ 21.9 billion in 2007 . net earnings totaled $ 663 million in 2009 , including $ 1.4 billion of alter- native fuel mixture credits and $ 853 million of charges to restructure ongoing businesses , com- pared with a loss of $ 1.3 billion in 2008 , which included a $ 1.8 billion goodwill impairment charge . net earnings in 2007 totaled $ 1.2 billion . the company performed well in 2009 considering the magnitude of the challenges it faced , both domestically and around the world . despite weak global economic conditions , the company generated record cash flow from operations , enabling us to reduce long-term debt by $ 3.1 billion while increas- ing cash balances by approximately $ 800 million . also during 2009 , the company incurred 3.6 million tons of downtime , including 1.1 million tons asso- ciated with the shutdown of production capacity in our north american mill system to continue to match our production to our customers 2019 needs . these actions should result in higher operating rates , lower fixed costs and lower payroll costs in 2010 and beyond . furthermore , the realization of integration synergies in our u.s . industrial packaging business and overhead reduction initiatives across the com- pany position international paper to benefit from a lower cost profile in future years . as 2010 begins , we expect that first-quarter oper- ations will continue to be challenging . in addition to being a seasonally slow quarter for many of our businesses , poor harvesting weather conditions in the u.s . south and increasing competition for lim- ited supplies of recycled fiber are expected to lead to further increases in fiber costs for our u.s . mills . planned maintenance outage expenses will also be higher than in the 2009 fourth quarter . however , we have announced product price increases for our major global manufacturing businesses , and while these actions may not have a significant effect on first-quarter results , we believe that the benefits beginning in the second quarter will be significant . additionally , we expect to benefit from the capacity management , cost reduction and integration synergy actions taken during 2009 . as a result , the company remains positive about projected operating results in 2010 , with improved earnings versus 2009 expected in all major businesses . we will continue to focus on aggressive cost management and strong cash flow generation as 2010 progresses . results of operations industry segment operating profits are used by inter- national paper 2019s management to measure the earn- ings performance of its businesses . management believes that this measure allows a better under- standing of trends in costs , operating efficiencies , prices and volumes . industry segment operating profits are defined as earnings before taxes , equity earnings , noncontrolling interests , interest expense , corporate items and corporate special items . industry segment operating profits are defined by the securities and exchange commission as a non-gaap financial measure , and are not gaap alternatives to net income or any other operating measure prescribed by accounting principles gen- erally accepted in the united states . international paper operates in six segments : industrial packaging , printing papers , consumer packaging , distribution , forest products , and spe- cialty businesses and other . the following table shows the components of net earnings ( loss ) attributable to international paper company for each of the last three years : in millions 2009 2008 2007 .
|in millions|2009|2008|2007|
|industry segment operating profits|$ 2360|$ 1393|$ 1897|
|corporate items net|-181 ( 181 )|-103 ( 103 )|-206 ( 206 )|
|corporate special items*|-334 ( 334 )|-1949 ( 1949 )|241|
|interest expense net|-669 ( 669 )|-492 ( 492 )|-297 ( 297 )|
|noncontrolling interests|5|-5 ( 5 )|-5 ( 5 )|
|income tax provision|-469 ( 469 )|-162 ( 162 )|-415 ( 415 )|
|equity ( loss ) earnings|-49 ( 49 )|49|2013|
|discontinued operations|2013|-13 ( 13 )|-47 ( 47 )|
|net earnings ( loss ) attributable to international paper company|$ 663|$ -1282 ( 1282 )|$ 1168|
net earnings ( loss ) attributable to international paper company $ 663 $ ( 1282 ) $ 1168 * corporate special items include restructuring and other charg- es , goodwill impairment charges , gains on transformation plan forestland sales and net losses ( gains ) on sales and impairments of businesses . industry segment operating profits of $ 2.4 billion were $ 967 million higher in 2009 than in 2008 . oper- ating profits benefited from lower energy and raw material costs ( $ 447 million ) , lower distribution costs ( $ 142 million ) , favorable manufacturing operating costs ( $ 481 million ) , incremental earnings from the cbpr business acquired in the third quarter of 2008 ( $ 202 million ) , and other items ( $ 35 million ) , offset by lower average sales price realizations ( $ 444 million ) , lower sales volumes and increased lack-of-order downtime ( $ 684 million ) , unfavorable .
Question: what is the average industry segment operating profits , 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: |
-8.0 | Context:18 2018 ppg annual report and 10-k research and development .
|( $ in millions )|2018|2017|2016|
|research and development costs including depreciation of research facilities ( a )|$ 464|$ 472|$ 473|
|% ( % ) of annual net sales|3.0% ( 3.0 % )|3.2% ( 3.2 % )|3.3% ( 3.3 % )|
( a ) prior year amounts have been recast for the adoption of accounting standards update no . 2017-07 , "improving the presentation of net periodic pension cost and net periodic postretirement benefit cost . 201d see note 1 within item 8 of this form 10-k for additional information . technology innovation has been a hallmark of ppg 2019s success throughout its history . the company seeks to optimize its investment in research and development to create new products to drive profitable growth . we align our product development with the macro trends in the markets we serve and leverage core technology platforms to develop products for unmet market needs . our history of successful technology introductions is based on a commitment to an efficient and effective innovation process and disciplined portfolio management . we have obtained government funding for a small portion of the company 2019s research efforts , and we will continue to pursue government funding where appropriate . ppg owns and operates several facilities to conduct research and development for new and improved products and processes . in addition to the company 2019s centralized principal research and development centers ( see item 2 . 201cproperties 201d of this form 10-k ) , operating segments manage their development through centers of excellence . as part of our ongoing efforts to manage our formulations and raw material costs effectively , we operate a global competitive sourcing laboratory in china . because of the company 2019s broad array of products and customers , ppg is not materially dependent upon any single technology platform . raw materials and energy the effective management of raw materials and energy is important to ppg 2019s continued success . ppg uses a wide variety of complex raw materials that serve as the building blocks of our manufactured products that provide broad ranging , high performance solutions to our customers . the company 2019s most significant raw materials are epoxy and other resins , titanium dioxide and other pigments , and solvents in the coatings businesses and sand and soda ash for the specialty coatings and materials business . coatings raw materials include both organic , primarily petroleum-derived , materials and inorganic materials , including titanium dioxide . these raw materials represent ppg 2019s single largest production cost component . most of the raw materials and energy used in production are purchased from outside sources , and the company has made , and plans to continue to make , supply arrangements to meet our planned operating requirements for the future . supply of critical raw materials and energy is managed by establishing contracts with multiple sources , and identifying alternative materials or technology whenever possible . our products use both petroleum-derived and bio-based materials as part of a product renewal strategy . while prices for these raw materials typically fluctuate with energy prices and global supply and demand , such fluctuations are impacted by the fact that the manufacture of our raw materials is several steps downstream from crude oil and natural gas . the company is continuing its aggressive sourcing initiatives to broaden our supply of high quality raw materials . these initiatives include qualifying multiple and local sources of supply , including suppliers from asia and other lower cost regions of the world , adding on-site resin production at certain manufacturing locations and a reduction in the amount of titanium dioxide used in our product formulations . we are subject to existing and evolving standards relating to the registration of chemicals which could potentially impact the availability and viability of some of the raw materials we use in our production processes . our ongoing , global product stewardship efforts are directed at maintaining our compliance with these standards . ppg has joined a global initiative to eliminate child labor from the mica industry , and the company is continuing to take steps , including audits of our suppliers , to ensure compliance with ppg 2019s zero-tolerance policy against the use of child labor in their supply chains . changes to chemical registration regulations have been proposed or implemented in the eu and many other countries , including china , canada , the united states ( u.s. ) , brazil , mexico and korea . because implementation of many of these programs has not been finalized , the financial impact cannot be estimated at this time . we anticipate that the number of chemical registration regulations will continue to increase globally , and we have implemented programs to track and comply with these regulations . given the recent volatility in certain energy-based input costs and foreign currencies , the company is not able to predict with certainty the 2019 full year impact of related changes in raw material pricing versus 2018 ; however , ppg currently expects overall coatings raw material costs to increase a low-single-digit percentage in the first half of 2019 , with impacts varied by region and commodity . further , given the distribution nature of many of our businesses , logistics and distribution costs are sizable , as are wages and benefits but to a lesser degree . ppg typically experiences fluctuating prices for energy and raw materials driven by various factors , including changes in supplier feedstock costs and inventories , global industry activity levels , foreign currency exchange rates , government regulation , and global supply and demand factors . in aggregate , average .
Question: what was the change in millions of research and development costs including depreciation of research facilities from 2017 to 201? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.31632 | Context:we maintain and operate the assets based on contractual obligations within the lease arrangements , which set specific guidelines consistent within the railroad industry . as such , we have no control over activities that could materially impact the fair value of the leased assets . we do not hold the power to direct the activities of the vies and , therefore , do not control the ongoing activities that have a significant impact on the economic performance of the vies . additionally , we do not have the obligation to absorb losses of the vies or the right to receive benefits of the vies that could potentially be significant to the we are not considered to be the primary beneficiary and do not consolidate these vies because our actions and decisions do not have the most significant effect on the vie 2019s performance and our fixed-price purchase options are not considered to be potentially significant to the vies . the future minimum lease payments associated with the vie leases totaled $ 2.6 billion as of december 31 , 2015 . 17 . leases we lease certain locomotives , freight cars , and other property . the consolidated statements of financial position as of december 31 , 2015 and 2014 included $ 2273 million , net of $ 1189 million of accumulated depreciation , and $ 2454 million , net of $ 1210 million of accumulated depreciation , respectively , for properties held under capital leases . a charge to income resulting from the depreciation for assets held under capital leases is included within depreciation expense in our consolidated statements of income . future minimum lease payments for operating and capital leases with initial or remaining non-cancelable lease terms in excess of one year as of december 31 , 2015 , were as follows : millions operating leases capital leases .
|millions|operatingleases|capitalleases|
|2016|$ 491|$ 217|
|2017|446|220|
|2018|371|198|
|2019|339|184|
|2020|282|193|
|later years|1501|575|
|total minimum lease payments|$ 3430|$ 1587|
|amount representing interest|n/a|-319 ( 319 )|
|present value of minimum lease payments|n/a|$ 1268|
approximately 95% ( 95 % ) of capital lease payments relate to locomotives . rent expense for operating leases with terms exceeding one month was $ 590 million in 2015 , $ 593 million in 2014 , and $ 618 million in 2013 . when cash rental payments are not made on a straight-line basis , we recognize variable rental expense on a straight-line basis over the lease term . contingent rentals and sub-rentals are not significant . 18 . commitments and contingencies asserted and unasserted claims 2013 various claims and lawsuits are pending against us and certain of our subsidiaries . we cannot fully determine the effect of all asserted and unasserted claims on our consolidated results of operations , financial condition , or liquidity . to the extent possible , we have recorded a liability where asserted and unasserted claims are considered probable and where such claims can be reasonably estimated . we do not expect that any known lawsuits , claims , environmental costs , commitments , contingent liabilities , or guarantees will have a material adverse effect on our consolidated results of operations , financial condition , or liquidity after taking into account liabilities and insurance recoveries previously recorded for these matters . personal injury 2013 the cost of personal injuries to employees and others related to our activities is charged to expense based on estimates of the ultimate cost and number of incidents each year . we use an actuarial analysis to measure the expense and liability , including unasserted claims . the federal employers 2019 liability act ( fela ) governs compensation for work-related accidents . under fela , damages are assessed based on a finding of fault through litigation or out-of-court settlements . we offer a comprehensive variety of services and rehabilitation programs for employees who are injured at work . our personal injury liability is not discounted to present value due to the uncertainty surrounding the timing of future payments . approximately 94% ( 94 % ) of the recorded liability is related to asserted claims and .
Question: what percentage of total minimum lease payments are capital leases? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.64165 | Context:debt maturities 2013 the following table presents aggregate debt maturities as of december 31 , 2008 , excluding market value adjustments . millions of dollars .
|2009|$ 720|
|2010|465|
|2011|555|
|2012|746|
|2013|713|
|thereafter|5728|
|total debt|$ 8927|
as of december 31 , 2008 , we have reclassified as long-term debt approximately $ 400 million of debt due within one year that we intend to refinance . this reclassification reflects our ability and intent to refinance any short-term borrowings and certain current maturities of long-term debt on a long-term basis . at december 31 , 2007 , we reclassified as long-term debt approximately $ 550 million of debt due within one year that we intended to refinance at that time . mortgaged properties 2013 equipment with a carrying value of approximately $ 2.7 billion and $ 2.8 billion at december 31 , 2008 and 2007 , respectively , serves as collateral for capital leases and other types of equipment obligations in accordance with the secured financing arrangements utilized to acquire such railroad equipment . as a result of the merger of missouri pacific railroad company ( mprr ) with and into uprr on january 1 , 1997 , and pursuant to the underlying indentures for the mprr mortgage bonds , uprr must maintain the same value of assets after the merger in order to comply with the security requirements of the mortgage bonds . as of the merger date , the value of the mprr assets that secured the mortgage bonds was approximately $ 6.0 billion . in accordance with the terms of the indentures , this collateral value must be maintained during the entire term of the mortgage bonds irrespective of the outstanding balance of such bonds . credit facilities 2013 on december 31 , 2008 , we had $ 1.9 billion of credit available under our revolving credit facility ( the facility ) . the facility is designated for general corporate purposes and supports the issuance of commercial paper . we did not draw on the facility during 2008 . commitment fees and interest rates payable under the facility are similar to fees and rates available to comparably rated , investment- grade borrowers . the facility allows borrowings at floating rates based on london interbank offered rates , plus a spread , depending upon our senior unsecured debt ratings . the facility requires union pacific corporation to maintain a debt-to-net-worth coverage ratio as a condition to making a borrowing . at december 31 , 2008 , and december 31 , 2007 ( and at all times during these periods ) , we were in compliance with this covenant . the definition of debt used for purposes of calculating the debt-to-net-worth coverage ratio includes , among other things , certain credit arrangements , capital leases , guarantees and unfunded and vested pension benefits under title iv of erisa . at december 31 , 2008 , the debt-to-net-worth coverage ratio allowed us to carry up to $ 30.9 billion of debt ( as defined in the facility ) , and we had $ 9.9 billion of debt ( as defined in the facility ) outstanding at that date . under our current capital plans , we expect to continue to satisfy the debt-to-net-worth coverage ratio ; however , many factors beyond our reasonable control ( including the risk factors in item 1a of this report ) could affect our ability to comply with this provision in the future . the facility does not include any other financial restrictions , credit rating triggers ( other than rating-dependent pricing ) , or any other provision that could require us to post collateral . the .
Question: what percentage of total aggregate debt maturities as of december 31 , 2008 are due after 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: |
37.0 | Context:68 2012 ppg annual report and form 10-k december 31 , 2012 , 2011 and 2010 was $ ( 30 ) million , $ 98 million and $ 65 million , respectively . the cumulative tax benefit related to the adjustment for pension and other postretirement benefits at december 31 , 2012 and 2011 was approximately $ 960 million and $ 990 million , respectively . there was no tax ( cost ) benefit related to the change in the unrealized gain ( loss ) on marketable securities for the year ended december 31 , 2012 . the tax ( cost ) benefit related to the change in the unrealized gain ( loss ) on marketable securities for the years ended december 31 , 2011 and 2010 was $ ( 0.2 ) million and $ 0.6 million , respectively . the tax benefit related to the change in the unrealized gain ( loss ) on derivatives for the years ended december 31 , 2012 , 2011 and 2010 was $ 4 million , $ 19 million and $ 1 million , respectively . 18 . employee savings plan ppg 2019s employee savings plan ( 201csavings plan 201d ) covers substantially all u.s . employees . the company makes matching contributions to the savings plan , at management's discretion , based upon participants 2019 savings , subject to certain limitations . for most participants not covered by a collective bargaining agreement , company-matching contributions are established each year at the discretion of the company and are applied to participant savings up to a maximum of 6% ( 6 % ) of eligible participant compensation . for those participants whose employment is covered by a collective bargaining agreement , the level of company-matching contribution , if any , is determined by the relevant collective bargaining agreement . the company-matching contribution was suspended from march 2009 through june 2010 as a cost savings measure in recognition of the adverse impact of the global recession . effective july 1 , 2010 , the company match was reinstated at 50% ( 50 % ) on the first 6% ( 6 % ) of compensation contributed for most employees eligible for the company-matching contribution feature . this included the union represented employees in accordance with their collective bargaining agreements . on january 1 , 2011 , the company match was increased to 75% ( 75 % ) on the first 6% ( 6 % ) of compensation contributed by these eligible employees and this level was maintained throughout 2012 . compensation expense and cash contributions related to the company match of participant contributions to the savings plan for 2012 , 2011 and 2010 totaled $ 28 million , $ 26 million and $ 9 million , respectively . a portion of the savings plan qualifies under the internal revenue code as an employee stock ownership plan . as a result , the dividends on ppg shares held by that portion of the savings plan totaling $ 18 million , $ 20 million and $ 24 million for 2012 , 2011 and 2010 , respectively , were tax deductible to the company for u.s . federal tax purposes . 19 . other earnings .
|( millions )|2012|2011|2010|
|royalty income|$ 51|$ 55|$ 58|
|share of net earnings of equity affiliates ( see note 5 )|11|37|45|
|gain on sale of assets|4|12|8|
|other|83|73|69|
|total|$ 149|$ 177|$ 180|
20 . stock-based compensation the company 2019s stock-based compensation includes stock options , restricted stock units ( 201crsus 201d ) and grants of contingent shares that are earned based on achieving targeted levels of total shareholder return . all current grants of stock options , rsus and contingent shares are made under the ppg industries , inc . amended and restated omnibus incentive plan ( 201cppg amended omnibus plan 201d ) , which was amended and restated effective april 21 , 2011 . shares available for future grants under the ppg amended omnibus plan were 8.5 million as of december 31 , 2012 . total stock-based compensation cost was $ 73 million , $ 36 million and $ 52 million in 2012 , 2011 and 2010 , respectively . stock-based compensation expense increased year over year due to the increase in the expected payout percentage of the 2010 performance-based rsu grants and ppg's total shareholder return performance in 2012 in comparison with the standard & poors ( s&p ) 500 index , which has increased the expense related to outstanding grants of contingent shares . the total income tax benefit recognized in the accompanying consolidated statement of income related to the stock-based compensation was $ 25 million , $ 13 million and $ 18 million in 2012 , 2011 and 2010 , respectively . stock options ppg has outstanding stock option awards that have been granted under two stock option plans : the ppg industries , inc . stock plan ( 201cppg stock plan 201d ) and the ppg amended omnibus plan . under the ppg amended omnibus plan and the ppg stock plan , certain employees of the company have been granted options to purchase shares of common stock at prices equal to the fair market value of the shares on the date the options were granted . the options are generally exercisable beginning from six to 48 months after being granted and have a maximum term of 10 years . upon exercise of a stock option , shares of company stock are issued from treasury stock . the ppg stock plan includes a restored option provision for options originally granted prior to january 1 , 2003 that allows an optionee to exercise options and satisfy the option cost by certifying ownership of mature shares of ppg common stock with a market value equal to the option cost . the fair value of stock options issued to employees is measured on the date of grant and is recognized as expense over the requisite service period . ppg estimates the fair value of stock options using the black-scholes option pricing model . the risk- free interest rate is determined by using the u.s . treasury yield table of contents .
Question: what was the change in millions of total stock-based compensation cost from 2011 to 2012? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-0.024 | Context:part i item 1 . business . general development of business general : altria group , inc . is a holding company incorporated in the commonwealth of virginia in 1985 . at december 31 , 2014 , altria group , inc . 2019s wholly-owned subsidiaries included philip morris usa inc . ( 201cpm usa 201d ) , which is engaged predominantly in the manufacture and sale of cigarettes in the united states ; john middleton co . ( 201cmiddleton 201d ) , which is engaged in the manufacture and sale of machine-made large cigars and pipe tobacco , and is a wholly- owned subsidiary of pm usa ; and ust llc ( 201cust 201d ) , which through its wholly-owned subsidiaries , including u.s . smokeless tobacco company llc ( 201cusstc 201d ) and ste . michelle wine estates ltd . ( 201cste . michelle 201d ) , is engaged in the manufacture and sale of smokeless tobacco products and wine . altria group , inc . 2019s other operating companies included nu mark llc ( 201cnu mark 201d ) , a wholly-owned subsidiary that is engaged in the manufacture and sale of innovative tobacco products , and philip morris capital corporation ( 201cpmcc 201d ) , a wholly-owned subsidiary that maintains a portfolio of finance assets , substantially all of which are leveraged leases . other altria group , inc . wholly-owned subsidiaries included altria group distribution company , which provides sales , distribution and consumer engagement services to certain altria group , inc . operating subsidiaries , and altria client services inc. , which provides various support services , such as legal , regulatory , finance , human resources and external affairs , to altria group , inc . and its subsidiaries . at december 31 , 2014 , altria group , inc . also held approximately 27% ( 27 % ) of the economic and voting interest of sabmiller plc ( 201csabmiller 201d ) , which altria group , inc . accounts for under the equity method of accounting . source of funds : because altria group , inc . is a holding company , its access to the operating cash flows of its wholly- owned subsidiaries consists of cash received from the payment of dividends and distributions , and the payment of interest on intercompany loans by its subsidiaries . at december 31 , 2014 , altria group , inc . 2019s principal wholly-owned subsidiaries were not limited by long-term debt or other agreements in their ability to pay cash dividends or make other distributions with respect to their equity interests . in addition , altria group , inc . receives cash dividends on its interest in sabmiller if and when sabmiller pays such dividends . financial information about segments altria group , inc . 2019s reportable segments are smokeable products , smokeless products and wine . the financial services and the innovative tobacco products businesses are included in an all other category due to the continued reduction of the lease portfolio of pmcc and the relative financial contribution of altria group , inc . 2019s innovative tobacco products businesses to altria group , inc . 2019s consolidated results . altria group , inc . 2019s chief operating decision maker reviews operating companies income to evaluate the performance of , and allocate resources to , the segments . operating companies income for the segments is defined as operating income before amortization of intangibles and general corporate expenses . interest and other debt expense , net , and provision for income taxes are centrally managed at the corporate level and , accordingly , such items are not presented by segment since they are excluded from the measure of segment profitability reviewed by altria group , inc . 2019s chief operating decision maker . net revenues and operating companies income ( together with a reconciliation to earnings before income taxes ) attributable to each such segment for each of the last three years are set forth in note 15 . segment reporting to the consolidated financial statements in item 8 . financial statements and supplementary data of this annual report on form 10-k ( 201citem 8 201d ) . information about total assets by segment is not disclosed because such information is not reported to or used by altria group , inc . 2019s chief operating decision maker . segment goodwill and other intangible assets , net , are disclosed in note 4 . goodwill and other intangible assets , net to the consolidated financial statements in item 8 ( 201cnote 4 201d ) . the accounting policies of the segments are the same as those described in note 2 . summary of significant accounting policies to the consolidated financial statements in item 8 ( 201cnote 2 201d ) . the relative percentages of operating companies income ( loss ) attributable to each reportable segment and the all other category were as follows: .
||2014|2013|2012|
|smokeable products|87.2% ( 87.2 % )|84.5% ( 84.5 % )|83.7% ( 83.7 % )|
|smokeless products|13.4|12.2|12.5|
|wine|1.7|1.4|1.4|
|all other|-2.3 ( 2.3 )|1.9|2.4|
|total|100.0% ( 100.0 % )|100.0% ( 100.0 % )|100.0% ( 100.0 % )|
for items affecting the comparability of the relative percentages of operating companies income ( loss ) attributable to each reportable segment , see note 15 . segment reporting to the consolidated financial statements in item 8 ( 201cnote 15 201d ) . narrative description of business portions of the information called for by this item are included in item 7 . management 2019s discussion and analysis of financial condition and results of operations - operating results by business segment of this annual report on form 10-k . tobacco space altria group , inc . 2019s tobacco operating companies include pm usa , usstc and other subsidiaries of ust , middleton and nu mark . altria group distribution company provides sales , distribution and consumer engagement services to altria group , inc . 2019s tobacco operating companies . the products of altria group , inc . 2019s tobacco subsidiaries include smokeable tobacco products comprised of cigarettes manufactured and sold by pm usa and machine-made large altria_mdc_2014form10k_nolinks_crops.pdf 3 2/25/15 5:56 pm .
Question: how did the percentage of operating income related to smokeless product change from 2012 to 2013 relative the total operating income? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.5 | Context:notes to the audited consolidated financial statements for 2007 , 2006 , and 2005 , total share-based compensation expense ( before tax ) of approximately $ 26 million , $ 29 million , and $ 22 million , respectively , was recognized in selling , general and administrative expense in the consolidated statement of earnings for all share-based awards of which approximately $ 13 million , $ 17 million , and $ 5 million , respectively , related to stock options . sfas no . 123 ( r ) requires that compensation expense is recognized over the substantive vesting period , which may be a shorter time period than the stated vesting period for retirement-eligible employees . for 2007 and 2006 , approximately $ 3 million and $ 8 million , respectively , of stock option compensation expense were recognized due to retirement eligibility preceding the requisite vesting period . stock option awards option awards are granted on an annual basis to non-employee directors and to employees who meet certain eligibility requirements . option awards have an exercise price equal to the closing price of the company's stock on the date of grant . the term life of options is ten years with vesting periods that vary up to three years . vesting usually occurs ratably over the vesting period or at the end of the vesting period . the company utilizes the black scholes merton ( "bsm" ) option valuation model which relies on certain assumptions to estimate an option's fair value . the weighted average assumptions used in the determination of fair value for stock options awarded in 2007 , 2006 , and 2005 are provided in the table below: .
|assumptions|2007|2006|2005|
|expected volatility rate|20.80% ( 20.80 % )|21.40% ( 21.40 % )|22.90% ( 22.90 % )|
|expected dividend yield|2.92% ( 2.92 % )|3.24% ( 3.24 % )|3.29% ( 3.29 % )|
|average risk-free interest rate|4.24% ( 4.24 % )|4.62% ( 4.62 % )|4.48% ( 4.48 % )|
|expected forfeiture rate|0.75% ( 0.75 % )|0.75% ( 0.75 % )|actual|
|expected term years|4.40|4.40|5.00|
the volatility rate of grants is derived from historical company common stock price volatility over the same time period as the expected term of each stock option award . the volatility rate is derived by mathematical formula utilizing the weekly high closing stock price data over the expected term . the expected dividend yield is calculated using the expected company annual dividend amount over the expected term divided by the fair market value of the company's common stock . the average risk-free interest rate is derived from united states department of treasury published interest rates of daily yield curves for the same time period as the expected term . sfas no . 123 ( r ) specifies only share-based awards expected to vest be included in share-based compensation expense . estimated forfeiture rates are determined using historical forfeiture experience for each type of award and are excluded from the quantity of awards included in share-based compensation expense . the weighted average expected term reflects the analysis of historical share-based award transactions and includes option swap and reload grants which may have much shorter remaining expected terms than new option grants. .
Question: in 2007 what was the percent of the shared based compensation associated with stock options | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
685.66667 | Context:2010 . on november 1 , 2010 , we redeemed all $ 400 million of our outstanding 6.65% ( 6.65 % ) notes due january 15 , 2011 . the redemption resulted in a $ 5 million early extinguishment charge . receivables securitization facility 2013 at december 31 , 2010 , we have recorded $ 100 million as secured debt under our receivables securitization facility . ( see further discussion of our receivables securitization facility in note 10. ) 15 . variable interest entities we have entered into various lease transactions in which the structure of the leases contain variable interest entities ( vies ) . these vies were created solely for the purpose of doing lease transactions ( principally involving railroad equipment and facilities ) and have no other activities , assets or liabilities outside of the lease transactions . within these lease arrangements , we have the right to purchase some or all of the assets at fixed prices . depending on market conditions , fixed-price purchase options available in the leases could potentially provide benefits to us ; however , these benefits are not expected to be significant . we maintain and operate the assets based on contractual obligations within the lease arrangements , which set specific guidelines consistent within the railroad industry . as such , we have no control over activities that could materially impact the fair value of the leased assets . we do not hold the power to direct the activities of the vies and , therefore , do not control the ongoing activities that have a significant impact on the economic performance of the vies . additionally , we do not have the obligation to absorb losses of the vies or the right to receive benefits of the vies that could potentially be significant to the we are not considered to be the primary beneficiary and do not consolidate these vies because our actions and decisions do not have the most significant effect on the vie 2019s performance and our fixed-price purchase price options are not considered to be potentially significant to the vie 2019s . the future minimum lease payments associated with the vie leases totaled $ 4.2 billion as of december 31 , 2010 . 16 . leases we lease certain locomotives , freight cars , and other property . the consolidated statement of financial position as of december 31 , 2010 and 2009 included $ 2520 million , net of $ 901 million of accumulated depreciation , and $ 2754 million , net of $ 927 million of accumulated depreciation , respectively , for properties held under capital leases . a charge to income resulting from the depreciation for assets held under capital leases is included within depreciation expense in our consolidated statements of income . future minimum lease payments for operating and capital leases with initial or remaining non-cancelable lease terms in excess of one year as of december 31 , 2010 , were as follows : millions operating leases capital leases .
|millions|operatingleases|capitalleases|
|2011|$ 613|$ 311|
|2012|526|251|
|2013|461|253|
|2014|382|261|
|2015|340|262|
|later years|2599|1355|
|total minimum lease payments|$ 4921|$ 2693|
|amount representing interest|n/a|-784 ( 784 )|
|present value of minimum lease payments|n/a|$ 1909|
the majority of capital lease payments relate to locomotives . rent expense for operating leases with terms exceeding one month was $ 624 million in 2010 , $ 686 million in 2009 , and $ 747 million in 2008 . when cash rental payments are not made on a straight-line basis , we recognize variable rental expense on a straight-line basis over the lease term . contingent rentals and sub-rentals are not significant. .
Question: what is the average rent expense for operating leases with terms exceeding one month from 2008-2010 , in millions? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.01939 | Context:consolidated results of operations , financial condition , or liquidity ; however , to the extent possible , where unasserted claims are considered probable and where such claims can be reasonably estimated , we have recorded a liability . we do not expect that any known lawsuits , claims , environmental costs , commitments , contingent liabilities , or guarantees will have a material adverse effect on our consolidated results of operations , financial condition , or liquidity after taking into account liabilities previously recorded for these matters . personal injury 2013 the cost of personal injuries to employees and others related to our activities is charged to expense based on estimates of the ultimate cost and number of incidents each year . we use third-party actuaries to assist us in measuring the expense and liability , including unasserted claims . compensation for work-related accidents is governed by the federal employers 2019 liability act ( fela ) . under fela , damages are assessed based on a finding of fault through litigation or out-of-court settlements . our personal injury liability activity was as follows : millions of dollars 2006 2005 2004 .
|millions of dollars|2006|2005|2004|
|beginning balance|$ 619|$ 639|$ 619|
|accruals|240|247|288|
|payments|-228 ( 228 )|-267 ( 267 )|-268 ( 268 )|
|ending balance at december 31|$ 631|$ 619|$ 639|
|current portion ending balance at december 31|$ 233|$ 274|$ 274|
our personal injury liability is discounted to present value using applicable u.s . treasury rates . approximately 87% ( 87 % ) of the recorded liability related to asserted claims , and approximately 13% ( 13 % ) related to unasserted claims . personal injury accruals were higher in 2004 due to a 1998 crossing accident verdict upheld in 2004 and a 2004 derailment near san antonio . asbestos 2013 we are a defendant in a number of lawsuits in which current and former employees allege exposure to asbestos . additionally , we have received claims for asbestos exposure that have not been litigated . the claims and lawsuits ( collectively referred to as 201cclaims 201d ) allege occupational illness resulting from exposure to asbestos- containing products . in most cases , the claimants do not have credible medical evidence of physical impairment resulting from the alleged exposures . additionally , most claims filed against us do not specify an amount of alleged damages . during 2004 , we engaged a third party with extensive experience in estimating resolution costs for asbestos- related claims to assist us in assessing the number and value of these unasserted claims through 2034 , based on our average claims experience over a multi-year period . as a result , we increased our liability in 2004 for asbestos- related claims in the fourth quarter of 2004 . the liability for resolving both asserted and unasserted claims was based on the following assumptions : 2022 the number of future claims received would be consistent with historical averages . 2022 the number of claims filed against us will decline each year . 2022 the average settlement values for asserted and unasserted claims will be equivalent to historical averages . 2022 the percentage of claims dismissed in the future will be equivalent to historical averages. .
Question: what was the percentage change in personal injury liability from 2005 to 2006? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.22257 | 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 and significant accounting policies operations and segmentation 2013 we are a class i railroad that operates in the united states . we have 32012 route miles , linking pacific coast and gulf coast ports with the midwest and eastern united states gateways and providing several corridors to key mexican gateways . 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 revenues are 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 revenue by commodity group : millions of dollars 2008 2007 2006 .
|millions of dollars|2008|2007|2006|
|agricultural|$ 3174|$ 2605|$ 2385|
|automotive|1344|1458|1427|
|chemicals|2494|2287|2084|
|energy|3810|3134|2949|
|industrial products|3273|3077|3135|
|intermodal|3023|2925|2811|
|total freight revenues|$ 17118|$ 15486|$ 14791|
|other revenues|852|797|787|
|total operating revenues|$ 17970|$ 16283|$ 15578|
basis of presentation 2013 certain prior year amounts have been reclassified to conform to the current period financial statement presentation . the reclassifications include reporting freight revenues instead of commodity revenues . the amounts reclassified from freight revenues to other revenues totaled $ 30 million and $ 71 million for the years ended december 31 , 2007 , and december 31 , 2006 , respectively . in addition , we modified our operating expense categories to report fuel used in railroad operations as a stand-alone category , to combine purchased services and materials into one line , and to reclassify certain other expenses among operating expense categories . these reclassifications had no impact on previously reported operating revenues , total operating expenses , operating income or net income . 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 significant intercompany transactions are eliminated . the corporation evaluates its less than majority-owned investments for consolidation .
Question: what percentage of total freight revenues were energy 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: |
0.07927 | Context:debt maturities 2013 the following table presents aggregate debt maturities as of december 31 , 2011 , excluding market value adjustments : millions .
|2012|$ 309|
|2013|636|
|2014|706|
|2015|467|
|2016|517|
|thereafter|6271|
|total debt|$ 8906|
as of both december 31 , 2011 and december 31 , 2010 , we have reclassified as long-term debt approximately $ 100 million of debt due within one year that we intend to refinance . this reclassification reflects our ability and intent to refinance any short-term borrowings and certain current maturities of long- term debt on a long-term basis . mortgaged properties 2013 equipment with a carrying value of approximately $ 2.9 billion and $ 3.2 billion at december 31 , 2011 and 2010 , respectively , served as collateral for capital leases and other types of equipment obligations in accordance with the secured financing arrangements utilized to acquire such railroad equipment . as a result of the merger of missouri pacific railroad company ( mprr ) with and into uprr on january 1 , 1997 , and pursuant to the underlying indentures for the mprr mortgage bonds , uprr must maintain the same value of assets after the merger in order to comply with the security requirements of the mortgage bonds . as of the merger date , the value of the mprr assets that secured the mortgage bonds was approximately $ 6.0 billion . in accordance with the terms of the indentures , this collateral value must be maintained during the entire term of the mortgage bonds irrespective of the outstanding balance of such bonds . credit facilities 2013 during the second quarter of 2011 , we replaced our $ 1.9 billion revolving credit facility , which was scheduled to expire in april 2012 , with a new $ 1.8 billion facility that expires in may 2015 ( the facility ) . the facility is based on substantially similar terms as those in the previous credit facility . on december 31 , 2011 , we had $ 1.8 billion of credit available under the facility , which is designated for general corporate purposes and supports the issuance of commercial paper . we did not draw on either facility during 2011 . commitment fees and interest rates payable under the facility are similar to fees and rates available to comparably rated , investment-grade borrowers . the facility allows for borrowings at floating rates based on london interbank offered rates , plus a spread , depending upon our senior unsecured debt ratings . the facility requires the corporation to maintain a debt-to-net-worth coverage ratio as a condition to making a borrowing . at december 31 , 2011 , and december 31 , 2010 ( and at all times during the year ) , we were in compliance with this covenant . the definition of debt used for purposes of calculating the debt-to-net-worth coverage ratio includes , among other things , certain credit arrangements , capital leases , guarantees and unfunded and vested pension benefits under title iv of erisa . at december 31 , 2011 , the debt-to-net-worth coverage ratio allowed us to carry up to $ 37.2 billion of debt ( as defined in the facility ) , and we had $ 9.5 billion of debt ( as defined in the facility ) outstanding at that date . under our current capital plans , we expect to continue to satisfy the debt-to-net-worth coverage ratio ; however , many factors beyond our reasonable control ( including the risk factors in item 1a of this report ) could affect our ability to comply with this provision in the future . the facility does not include any other financial restrictions , credit rating triggers ( other than rating-dependent pricing ) , or any other provision that could require us to post collateral . the facility also includes a $ 75 million cross-default provision and a change-of-control provision . during 2011 , we did not issue or repay any commercial paper and , at december 31 , 2011 , we had no commercial paper outstanding . outstanding commercial paper balances are supported by our revolving credit facility but do not reduce the amount of borrowings available under the facility . dividend restrictions 2013 our revolving credit facility includes a debt-to-net worth covenant ( discussed in the credit facilities section above ) that , under certain circumstances , restricts the payment of cash .
Question: what percent of total aggregate debt maturities as of december 31 , 2011 are due in 2014? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
-3827.0 | 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 2008 to 200? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.14113 | Context:12 . borrowings short-term borrowings 2015 revolving credit facility . in march 2011 , the company entered into a five-year $ 3.5 billion unsecured revolving credit facility , which was amended in 2014 , 2013 and 2012 . in april 2015 , the company 2019s credit facility was further amended to extend the maturity date to march 2020 and to increase the amount of the aggregate commitment to $ 4.0 billion ( the 201c2015 credit facility 201d ) . the 2015 credit facility permits the company to request up to an additional $ 1.0 billion of borrowing capacity , subject to lender credit approval , increasing the overall size of the 2015 credit facility to an aggregate principal amount not to exceed $ 5.0 billion . interest on borrowings outstanding accrues at a rate based on the applicable london interbank offered rate plus a spread . the 2015 credit facility requires the company not to exceed a maximum leverage ratio ( ratio of net debt to earnings before interest , taxes , depreciation and amortization , where net debt equals total debt less unrestricted cash ) of 3 to 1 , which was satisfied with a ratio of less than 1 to 1 at december 31 , 2015 . the 2015 credit facility provides back-up liquidity to fund ongoing working capital for general corporate purposes and various investment opportunities . at december 31 , 2015 , the company had no amount outstanding under the 2015 credit facility . commercial paper program . on october 14 , 2009 , blackrock established a commercial paper program ( the 201ccp program 201d ) under which the company could issue unsecured commercial paper notes ( the 201ccp notes 201d ) on a private placement basis up to a maximum aggregate amount outstanding at any time of $ 4.0 billion as amended in april 2015 . the cp program is currently supported by the 2015 credit facility . at december 31 , 2015 , blackrock had no cp notes outstanding . long-term borrowings the carrying value and fair value of long-term borrowings estimated using market prices and foreign exchange rates at december 31 , 2015 included the following : ( in millions ) maturity amount unamortized discount and debt issuance costs carrying value fair value .
|( in millions )|maturityamount|unamortized discount and debt issuance costs|carrying value|fair value|
|6.25% ( 6.25 % ) notes due 2017|$ 700|$ -1 ( 1 )|$ 699|$ 757|
|5.00% ( 5.00 % ) notes due 2019|1000|-3 ( 3 )|997|1106|
|4.25% ( 4.25 % ) notes due 2021|750|-5 ( 5 )|745|828|
|3.375% ( 3.375 % ) notes due 2022|750|-6 ( 6 )|744|773|
|3.50% ( 3.50 % ) notes due 2024|1000|-8 ( 8 )|992|1030|
|1.25% ( 1.25 % ) notes due 2025|760|-7 ( 7 )|753|729|
|total long-term borrowings|$ 4960|$ -30 ( 30 )|$ 4930|$ 5223|
long-term borrowings at december 31 , 2014 had a carrying value of $ 4.922 billion and a fair value of $ 5.309 billion determined using market prices at the end of december 2025 notes . in may 2015 , the company issued 20ac700 million of 1.25% ( 1.25 % ) senior unsecured notes maturing on may 6 , 2025 ( the 201c2025 notes 201d ) . the notes are listed on the new york stock exchange . the net proceeds of the 2025 notes were used for general corporate purposes , including refinancing of outstanding indebtedness . interest of approximately $ 10 million per year based on current exchange rates is payable annually on may 6 of each year . the 2025 notes may be redeemed in whole or in part prior to maturity at any time at the option of the company at a 201cmake-whole 201d redemption price . the unamortized discount and debt issuance costs are being amortized over the remaining term of the 2025 notes . upon conversion to u.s . dollars the company designated the 20ac700 million debt offering as a net investment hedge to offset its currency exposure relating to its net investment in certain euro functional currency operations . a gain of $ 19 million , net of tax , was recognized in other comprehensive income for 2015 . no hedge ineffectiveness was recognized during 2015 . 2024 notes . in march 2014 , the company issued $ 1.0 billion in aggregate principal amount of 3.50% ( 3.50 % ) senior unsecured and unsubordinated notes maturing on march 18 , 2024 ( the 201c2024 notes 201d ) . the net proceeds of the 2024 notes were used to refinance certain indebtedness which matured in the fourth quarter of 2014 . interest is payable semi-annually in arrears on march 18 and september 18 of each year , or approximately $ 35 million per year . the 2024 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price . the unamortized discount and debt issuance costs are being amortized over the remaining term of the 2024 notes . 2022 notes . in may 2012 , the company issued $ 1.5 billion in aggregate principal amount of unsecured unsubordinated obligations . these notes were issued as two separate series of senior debt securities , including $ 750 million of 1.375% ( 1.375 % ) notes , which were repaid in june 2015 at maturity , and $ 750 million of 3.375% ( 3.375 % ) notes maturing in june 2022 ( the 201c2022 notes 201d ) . net proceeds were used to fund the repurchase of blackrock 2019s common stock and series b preferred from barclays and affiliates and for general corporate purposes . interest on the 2022 notes of approximately $ 25 million per year , respectively , is payable semi-annually on june 1 and december 1 of each year , which commenced december 1 , 2012 . the 2022 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price . the 201cmake-whole 201d redemption price represents a price , subject to the specific terms of the 2022 notes and related indenture , that is the greater of ( a ) par value and ( b ) the present value of future payments that will not be paid because of an early redemption , which is discounted at a fixed spread over a .
Question: what portion of total long-term borrowings is due in the next 24 months as of december 31 , 2015? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
30.6 | Context:lkq corporation and subsidiaries notes to consolidated financial statements ( continued ) note 5 . long-term obligations ( continued ) as part of the consideration for business acquisitions completed during 2007 , 2006 and 2005 , we issued promissory notes totaling approximately $ 1.7 million , $ 7.2 million and $ 6.4 million , respectively . the notes bear interest at annual rates of 3.0% ( 3.0 % ) to 6.0% ( 6.0 % ) , and interest is payable at maturity or in monthly installments . we also assumed certain liabilities in connection with a business acquisition during the second quarter of 2005 , including a promissory note with a remaining principle balance of approximately $ 0.2 million . the annual interest rate on the note , which was retired during 2006 , was note 6 . commitments and contingencies operating leases we are obligated under noncancelable operating leases for corporate office space , warehouse and distribution facilities , trucks and certain equipment . the future minimum lease commitments under these leases at december 31 , 2007 are as follows ( in thousands ) : years ending december 31: .
|2008|$ 42335|
|2009|33249|
|2010|25149|
|2011|17425|
|2012|11750|
|thereafter|28581|
|future minimum lease payments|$ 158489|
rental expense for operating leases was approximately $ 27.4 million , $ 18.6 million and $ 12.2 million during the years ended december 31 , 2007 , 2006 and 2005 , respectively . we guaranty the residual values of the majority of our truck and equipment operating leases . the residual values decline over the lease terms to a defined percentage of original cost . in the event the lessor does not realize the residual value when a piece of equipment is sold , we would be responsible for a portion of the shortfall . similarly , if the lessor realizes more than the residual value when a piece of equipment is sold , we would be paid the amount realized over the residual value . had we terminated all of our operating leases subject to these guaranties at december 31 , 2007 , the guarantied residual value would have totaled approximately $ 24.0 million . litigation and related contingencies on december 2 , 2005 , ford global technologies , llc ( 2018 2018ford 2019 2019 ) filed a complaint with the united states international trade commission ( 2018 2018usitc 2019 2019 ) against keystone and five other named respondents , including four taiwan-based manufacturers . on december 12 , 2005 , ford filed an amended complaint . both the complaint and the amended complaint contended that keystone and the other respondents infringed 14 design patents that ford alleges cover eight parts on the 2004-2005 .
Question: what was the average rental expense from 2005 to 2007 in millions | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
111.75 | Context:kimco realty corporation and subsidiaries notes to consolidated financial statements , continued the units consisted of ( i ) approximately 81.8 million preferred a units par value $ 1.00 per unit , which pay the holder a return of 7.0% ( 7.0 % ) per annum on the preferred a par value and are redeemable for cash by the holder at any time after one year or callable by the company any time after six months and contain a promote feature based upon an increase in net operating income of the properties capped at a 10.0% ( 10.0 % ) increase , ( ii ) 2000 class a preferred units , par value $ 10000 per unit , which pay the holder a return equal to libor plus 2.0% ( 2.0 % ) per annum on the class a preferred par value and are redeemable for cash by the holder at any time after november 30 , 2010 , ( iii ) 2627 class b-1 preferred units , par value $ 10000 per unit , which pay the holder a return equal to 7.0% ( 7.0 % ) per annum on the class b-1 preferred par value and are redeemable by the holder at any time after november 30 , 2010 , for cash or at the company 2019s option , shares of the company 2019s common stock , equal to the cash redemption amount , as defined , ( iv ) 5673 class b-2 preferred units , par value $ 10000 per unit , which pay the holder a return equal to 7.0% ( 7.0 % ) per annum on the class b-2 preferred par value and are redeemable for cash by the holder at any time after november 30 , 2010 , and ( v ) 640001 class c downreit units , valued at an issuance price of $ 30.52 per unit which pay the holder a return at a rate equal to the company 2019s common stock dividend and are redeemable by the holder at any time after november 30 , 2010 , for cash or at the company 2019s option , shares of the company 2019s common stock equal to the class c cash amount , as defined . the following units have been redeemed as of december 31 , 2010 : redeemed par value redeemed ( in millions ) redemption type .
|type|units redeemed|par value redeemed ( in millions )|redemption type|
|preferred a units|2200000|$ 2.2|cash|
|class a preferred units|2000|$ 20.0|cash|
|class b-1 preferred units|2438|$ 24.4|cash|
|class b-2 preferred units|5576|$ 55.8|cash/charitable contribution|
|class c downreit units|61804|$ 1.9|cash|
noncontrolling interest relating to the remaining units was $ 110.4 million and $ 113.1 million as of december 31 , 2010 and 2009 , respectively . during 2006 , the company acquired two shopping center properties located in bay shore and centereach , ny . included in noncontrolling interests was approximately $ 41.6 million , including a discount of $ 0.3 million and a fair market value adjustment of $ 3.8 million , in redeemable units ( the 201credeemable units 201d ) , issued by the company in connection with these transactions . the prop- erties were acquired through the issuance of $ 24.2 million of redeemable units , which are redeemable at the option of the holder ; approximately $ 14.0 million of fixed rate redeemable units and the assumption of approximately $ 23.4 million of non-recourse debt . the redeemable units consist of ( i ) 13963 class a units , par value $ 1000 per unit , which pay the holder a return of 5% ( 5 % ) per annum of the class a par value and are redeemable for cash by the holder at any time after april 3 , 2011 , or callable by the company any time after april 3 , 2016 , and ( ii ) 647758 class b units , valued at an issuance price of $ 37.24 per unit , which pay the holder a return at a rate equal to the company 2019s common stock dividend and are redeemable by the holder at any time after april 3 , 2007 , for cash or at the option of the company for common stock at a ratio of 1:1 , or callable by the company any time after april 3 , 2026 . the company is restricted from disposing of these assets , other than through a tax free transaction , until april 2016 and april 2026 for the centereach , ny , and bay shore , ny , assets , respectively . during 2007 , 30000 units , or $ 1.1 million par value , of theclass bunits were redeemed by the holder in cash at the option of the company . noncontrolling interest relating to the units was $ 40.4 million and $ 40.3 million as of december 31 , 2010 and 2009 , respectively . noncontrolling interests also includes 138015 convertible units issued during 2006 , by the company , which were valued at approxi- mately $ 5.3 million , including a fair market value adjustment of $ 0.3 million , related to an interest acquired in an office building located in albany , ny . these units are redeemable at the option of the holder after one year for cash or at the option of the company for the company 2019s common stock at a ratio of 1:1 . the holder is entitled to a distribution equal to the dividend rate of the company 2019s common stock . the company is restricted from disposing of these assets , other than through a tax free transaction , until january 2017. .
Question: what is the average , in millions , of noncontrolling interest relating to the remaining units in 2009-2010? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
13.52 | Context:the graph below compares expeditors international of washington , inc.'s cumulative 5-year total shareholder return on common stock with the cumulative total returns of the s&p 500 index , the nasdaq transportation index , and the nasdaq industrial transportation index ( nqusb2770t ) as a replacement for the nasdaq transportation index . the company is making the modification to reference a specific transportation index and to source that data directly from nasdaq . the graph assumes that the value of the investment in our common stock and in each of the indexes ( including reinvestment of dividends ) was $ 100 on 12/31/2012 and tracks it through 12/31/2017 . total return assumes reinvestment of dividends in each of the indices indicated . comparison of 5-year cumulative total return among expeditors international of washington , inc. , the s&p 500 index , the nasdaq industrial transportation index and the nasdaq transportation index. .
||12/12|12/13|12/14|12/15|12/16|12/17|
|expeditors international of washington inc .|$ 100.00|$ 113.52|$ 116.07|$ 119.12|$ 142.10|$ 176.08|
|standard and poor's 500 index|100.00|132.39|150.51|152.59|170.84|208.14|
|nasdaq transportation|100.00|133.76|187.65|162.30|193.79|248.92|
|nasdaq industrial transportation ( nqusb2770t )|100.00|141.60|171.91|132.47|171.17|218.34|
the stock price performance included in this graph is not necessarily indicative of future stock price performance . item 6 2014 selected financial data financial highlights in thousands , except per share data 2017 2016 2015 2014 2013 revenues ..................................................................... . $ 6920948 6098037 6616632 6564721 6080257 net revenues1 ............................................................... . $ 2319189 2164036 2187777 1981427 1882853 net earnings attributable to shareholders ..................... . $ 489345 430807 457223 376888 348526 diluted earnings attributable to shareholders per share $ 2.69 2.36 2.40 1.92 1.68 basic earnings attributable to shareholders per share.. . $ 2.73 2.38 2.42 1.92 1.69 dividends declared and paid per common share.......... . $ 0.84 0.80 0.72 0.64 0.60 cash used for dividends ............................................... . $ 150495 145123 135673 124634 123292 cash used for share repurchases ................................. . $ 478258 337658 629991 550781 261936 working capital ............................................................. . $ 1448333 1288648 1115136 1285188 1526673 total assets .................................................................. . $ 3117008 2790871 2565577 2870626 2996416 shareholders 2019 equity ..................................................... . $ 1991858 1844638 1691993 1868408 2084783 weighted average diluted shares outstanding .............. . 181666 182704 190223 196768 206895 weighted average basic shares outstanding ................ . 179247 181282 188941 196147 205995 _______________________ 1non-gaap measure calculated as revenues less directly related operating expenses attributable to our principal services . see management's discussion and analysis for a reconciliation of net revenues to revenues . safe harbor for forward-looking statements under private securities litigation reform act of 1995 ; certain cautionary statements this annual report on form 10-k for the fiscal year ended december 31 , 2017 contains 201cforward-looking statements , 201d as defined in section 27a of the securities act of 1933 , as amended , and section 21e of the securities exchange act of 1934 , as amended . from time to time , expeditors or its representatives have made or may make forward-looking statements , orally or in writing . such forward-looking statements may be included in , but not limited to , press releases , presentations , oral statements made with the approval of an authorized executive officer or in various filings made by expeditors with the securities and exchange commission . statements including those preceded by , followed by or that include the words or phrases 201cwill likely result 201d , 201care expected to 201d , "would expect" , "would not expect" , 201cwill continue 201d , 201cis anticipated 201d , 201cestimate 201d , 201cproject 201d , "provisional" , "plan" , "believe" , "probable" , "reasonably possible" , "may" , "could" , "should" , "intends" , "foreseeable future" or similar expressions are intended to identify 201cforward-looking statements 201d within the meaning of the private securities litigation reform act of 1995 . such statements are qualified in their entirety by reference to and are accompanied by the discussion in item 1a of certain important factors that could cause actual results to differ materially from such forward-looking statements . the risks included in item 1a are not exhaustive . furthermore , reference is also made to other sections of this report , which include additional factors that could adversely impact expeditors' business and financial performance . moreover , expeditors operates in a very competitive , complex and rapidly changing global environment . new risk factors emerge from time to time and it is not possible for management to predict all of such risk factors , nor can it assess the impact of all of such risk factors on expeditors' business or the extent to which any factor , or combination of factors , may cause actual results to differ materially from those contained in any forward-looking statements . accordingly , forward-looking statements cannot be relied upon as a guarantee of actual results . shareholders should be aware that while expeditors does , from time to time , communicate with securities analysts , it is against expeditors' policy to disclose to such analysts any material non-public information or other confidential commercial information . accordingly , shareholders should not assume that expeditors agrees with any statement or report issued by any analyst irrespective of the content of such statement or report . furthermore , expeditors has a policy against issuing financial forecasts or projections or confirming the accuracy of forecasts or projections issued by others . accordingly , to the extent that reports issued by securities analysts contain any projections , forecasts or opinions , such reports are not the responsibility of expeditors. .
Question: what is the lowest return rate for the initial 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: |
0.06331 | Context:entering 2006 , earnings in the first quarter are ex- pected to improve compared with the 2005 fourth quar- ter due principally to higher average price realizations , reflecting announced price increases . product demand for the first quarter should be seasonally slow , but is ex- pected to strengthen as the year progresses , supported by continued economic growth in north america , asia and eastern europe . average prices should also improve in 2006 as price increases announced in late 2005 and early 2006 for uncoated freesheet paper and pulp con- tinue to be realized . operating rates are expected to improve as a result of industry-wide capacity reductions in 2005 . although energy and raw material costs remain high , there has been some decline in both natural gas and delivered wood costs , with further moderation ex- pected later in 2006 . we will continue to focus on fur- ther improvements in our global manufacturing operations , implementation of supply chain enhance- ments and reductions in overhead costs during 2006 . industrial packaging demand for industrial packaging products is closely correlated with non-durable industrial goods production in the united states , as well as with demand for proc- essed foods , poultry , meat and agricultural products . in addition to prices and volumes , major factors affecting the profitability of industrial packaging are raw material and energy costs , manufacturing efficiency and product industrial packaging 2019s net sales for 2005 increased 2% ( 2 % ) compared with 2004 , and were 18% ( 18 % ) higher than in 2003 , reflecting the inclusion of international paper distribution limited ( formerly international paper pacific millennium limited ) beginning in august 2005 . operating profits in 2005 were 39% ( 39 % ) lower than in 2004 and 13% ( 13 % ) lower than in 2003 . sales volume increases ( $ 24 million ) , improved price realizations ( $ 66 million ) , and strong mill operating performance ( $ 27 million ) were not enough to offset the effects of increased raw material costs ( $ 103 million ) , higher market related downtime costs ( $ 50 million ) , higher converting operating costs ( $ 22 million ) , and unfavorable mix and other costs ( $ 67 million ) . additionally , the may 2005 sale of our industrial papers business resulted in a $ 25 million lower earnings contribution from this business in 2005 . the segment took 370000 tons of downtime in 2005 , including 230000 tons of lack-of-order downtime to balance internal supply with customer demand , com- pared to a total of 170000 tons in 2004 , which included 5000 tons of lack-of-order downtime . industrial packaging in millions 2005 2004 2003 .
|in millions|2005|2004|2003|
|sales|$ 4935|$ 4830|$ 4170|
|operating profit|$ 230|$ 380|$ 264|
containerboard 2019s net sales totaled $ 895 million in 2005 , $ 951 million in 2004 and $ 815 million in 2003 . soft market conditions and declining customer demand at the end of the first quarter led to lower average sales prices during the second and third quarters . beginning in the fourth quarter , prices recovered as a result of in- creased customer demand and a rationalization of sup- ply . full year sales volumes trailed 2004 levels early in the year , reflecting the weak market conditions in the first half of 2005 . however , volumes rebounded in the second half of the year , and finished the year ahead of 2004 levels . operating profits decreased 38% ( 38 % ) from 2004 , but were flat with 2003 . the favorable impacts of in- creased sales volumes , higher average sales prices and improved mill operating performance were not enough to offset the impact of higher wood , energy and other raw material costs and increased lack-of-order down- time . implementation of the new supply chain operating model in our containerboard mills during 2005 resulted in increased operating efficiency and cost savings . specialty papers in 2005 included the kraft paper business for the full year and the industrial papers busi- ness for five months prior to its sale in may 2005 . net sales totaled $ 468 million in 2005 , $ 723 million in 2004 and $ 690 million in 2003 . operating profits in 2005 were down 23% ( 23 % ) compared with 2004 and 54% ( 54 % ) com- pared with 2003 , reflecting the lower contribution from industrial papers . u.s . converting operations net sales for 2005 were $ 2.6 billion compared with $ 2.3 billion in 2004 and $ 1.9 billion in 2003 . sales volumes were up 10% ( 10 % ) in 2005 compared with 2004 , mainly due to the acquisition of box usa in july 2004 . average sales prices in 2005 began the year above 2004 levels , but softened in the second half of the year . operating profits in 2005 de- creased 46% ( 46 % ) and 4% ( 4 % ) from 2004 and 2003 levels , re- spectively , primarily due to increased linerboard , freight and energy costs . european container sales for 2005 were $ 883 mil- lion compared with $ 865 million in 2004 and $ 801 mil- lion in 2003 . operating profits declined 19% ( 19 % ) and 13% ( 13 % ) compared with 2004 and 2003 , respectively . the in- crease in sales in 2005 reflected a slight increase in de- mand over 2004 , but this was not sufficient to offset the negative earnings effect of increased operating costs , unfavorable foreign exchange rates and a reduction in average sales prices . the moroccan box plant acquis- ition , which was completed in october 2005 , favorably impacted fourth-quarter results . industrial packaging 2019s sales in 2005 included $ 104 million from international paper distribution limited , our asian box and containerboard business , subsequent to the acquisition of an additional 50% ( 50 % ) interest in au- gust 2005. .
Question: what was the industrial packaging profit margin in 2003 | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
85.0 | Context:altria group , inc . and subsidiaries notes to consolidated financial statements _________________________ 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 19 . 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 ( 1 ) and , in some instances , altria group , inc . as of december 31 , 2016 , 2015 and 2014: .
||2016|2015|2014|
|individual smoking and health cases ( 2 )|70|65|67|
|smoking and health class actions and aggregated claims litigation ( 3 )|5|5|5|
|health care cost recovery actions ( 4 )|1|1|1|
|201clights/ultra lights 201d class actions|8|11|12|
( 1 ) does not include 25 cases filed on the asbestos docket in the circuit court for baltimore city , maryland , which seek to join pm usa and other cigarette- manufacturing defendants in complaints previously filed against asbestos companies . ( 2 ) does not include 2485 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 ) . ( 3 ) includes as one case the 600 civil actions ( of which 344 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 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 will consist of trials to determine liability and compensatory damages . in november 2014 , the west virginia supreme court of appeals affirmed the final judgment . in july 2015 , the trial court entered an order that will result in the entry of final judgment in favor of defendants and against all but 30 plaintiffs who potentially have a claim against one or more defendants that may be pursued in a second phase of trial . the court intends to try the claims of these 30 plaintiffs in six consolidated trials , each with a group of five plaintiffs . the first trial is currently scheduled to begin may 1 , 2018 . dates for the five remaining consolidated trials have not been scheduled . ( 4 ) see health care cost recovery litigation - federal government 2019s lawsuit below. .
Question: what are the total number of pending tobacco-related cases in united states in 2014? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.43522 | Context:average age ( yrs. ) highway revenue equipment owned leased total .
|highway revenue equipment|owned|leased|total|averageage ( yrs. )|
|containers|26629|28306|54935|7.1|
|chassis|15182|25951|41133|8.9|
|total highway revenue equipment|41811|54257|96068|n/a|
capital expenditures our rail network requires significant annual capital investments for replacement , improvement , and expansion . these investments enhance safety , support the transportation needs of our customers , and improve our operational efficiency . additionally , we add new locomotives and freight cars to our fleet to replace older , less efficient equipment , to support growth and customer demand , and to reduce our impact on the environment through the acquisition of more fuel-efficient and low-emission locomotives . 2014 capital program 2013 during 2014 , our capital program totaled $ 4.1 billion . ( see the cash capital expenditures table in management 2019s discussion and analysis of financial condition and results of operations 2013 liquidity and capital resources 2013 financial condition , item 7. ) 2015 capital plan 2013 in 2015 , we expect our capital plan to be approximately $ 4.3 billion , which will include expenditures for ptc of approximately $ 450 million and may include non-cash investments . we may revise our 2015 capital plan if business conditions warrant or if new laws or regulations affect our ability to generate sufficient returns on these investments . ( see discussion of our 2015 capital plan in management 2019s discussion and analysis of financial condition and results of operations 2013 2015 outlook , item 7. ) equipment encumbrances 2013 equipment with a carrying value of approximately $ 2.8 billion and $ 2.9 billion at december 31 , 2014 , and 2013 , respectively served as collateral for capital leases and other types of equipment obligations in accordance with the secured financing arrangements utilized to acquire or refinance such railroad equipment . as a result of the merger of missouri pacific railroad company ( mprr ) with and into uprr on january 1 , 1997 , and pursuant to the underlying indentures for the mprr mortgage bonds , uprr must maintain the same value of assets after the merger in order to comply with the security requirements of the mortgage bonds . as of the merger date , the value of the mprr assets that secured the mortgage bonds was approximately $ 6.0 billion . in accordance with the terms of the indentures , this collateral value must be maintained during the entire term of the mortgage bonds irrespective of the outstanding balance of such bonds . environmental matters 2013 certain of our properties are subject to federal , state , and local laws and regulations governing the protection of the environment . ( see discussion of environmental issues in business 2013 governmental and environmental regulation , item 1 , and management 2019s discussion and analysis of financial condition and results of operations 2013 critical accounting policies 2013 environmental , item 7. ) item 3 . legal proceedings from time to time , we are involved in legal proceedings , claims , and litigation that occur in connection with our business . we routinely assess our liabilities and contingencies in connection with these matters based upon the latest available information and , when necessary , we seek input from our third-party advisors when making these assessments . consistent with sec rules and requirements , we describe below material pending legal proceedings ( other than ordinary routine litigation incidental to our business ) , material proceedings known to be contemplated by governmental authorities , other proceedings arising under federal , state , or local environmental laws and regulations ( including governmental proceedings involving potential fines , penalties , or other monetary sanctions in excess of $ 100000 ) , and such other pending matters that we may determine to be appropriate. .
Question: what percentage of total highway revenue equipment is owned? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.04687 | Context:augusta , georgia mill and $ 2 million of costs associated with the sale of the shorewood business . consumer packaging .
|in millions|2015|2014|2013|
|sales|$ 2940|$ 3403|$ 3435|
|operating profit ( loss )|-25 ( 25 )|178|161|
north american consumer packaging net sales were $ 1.9 billion in 2015 compared with $ 2.0 billion in 2014 and $ 2.0 billion in 2013 . operating profits were $ 81 million ( $ 91 million excluding the cost associated with the planned conversion of our riegelwood mill to 100% ( 100 % ) pulp production , net of proceeds from the sale of the carolina coated bristols brand , and sheet plant closure costs ) in 2015 compared with $ 92 million ( $ 100 million excluding sheet plant closure costs ) in 2014 and $ 63 million ( $ 110 million excluding paper machine shutdown costs and costs related to the sale of the shorewood business ) in 2013 . coated paperboard sales volumes in 2015 were lower than in 2014 reflecting weaker market demand . the business took about 77000 tons of market-related downtime in 2015 compared with about 41000 tons in 2014 . average sales price realizations increased modestly year over year as competitive pressures in the current year only partially offset the impact of sales price increases implemented in 2014 . input costs decreased for energy and chemicals , but wood costs increased . planned maintenance downtime costs were $ 10 million lower in 2015 . operating costs were higher , mainly due to inflation and overhead costs . foodservice sales volumes increased in 2015 compared with 2014 reflecting strong market demand . average sales margins increased due to lower resin costs and a more favorable mix . operating costs and distribution costs were both higher . looking ahead to the first quarter of 2016 , coated paperboard sales volumes are expected to be slightly lower than in the fourth quarter of 2015 due to our exit from the coated bristols market . average sales price realizations are expected to be flat , but margins should benefit from a more favorable product mix . input costs are expected to be higher for wood , chemicals and energy . planned maintenance downtime costs should be $ 4 million higher with a planned maintenance outage scheduled at our augusta mill in the first quarter . foodservice sales volumes are expected to be seasonally lower . average sales margins are expected to improve due to a more favorable mix . operating costs are expected to decrease . european consumer packaging net sales in 2015 were $ 319 million compared with $ 365 million in 2014 and $ 380 million in 2013 . operating profits in 2015 were $ 87 million compared with $ 91 million in 2014 and $ 100 million in 2013 . sales volumes in 2015 compared with 2014 increased in europe , but decreased in russia . average sales margins improved in russia due to slightly higher average sales price realizations and a more favorable mix . in europe average sales margins decreased reflecting lower average sales price realizations and an unfavorable mix . input costs were lower in europe , primarily for wood and energy , but were higher in russia , primarily for wood . looking forward to the first quarter of 2016 , compared with the fourth quarter of 2015 , sales volumes are expected to be stable . average sales price realizations are expected to be slightly higher in both russia and europe . input costs are expected to be flat , while operating costs are expected to increase . asian consumer packaging the company sold its 55% ( 55 % ) equity share in the ip-sun jv in october 2015 . net sales and operating profits presented below include results through september 30 , 2015 . net sales were $ 682 million in 2015 compared with $ 1.0 billion in 2014 and $ 1.1 billion in 2013 . operating profits in 2015 were a loss of $ 193 million ( a loss of $ 19 million excluding goodwill and other asset impairment costs ) compared with losses of $ 5 million in 2014 and $ 2 million in 2013 . sales volumes and average sales price realizations were lower in 2015 due to over-supplied market conditions and competitive pressures . average sales margins were also negatively impacted by a less favorable mix . input costs and freight costs were lower and operating costs also decreased . on october 13 , 2015 , the company finalized the sale of its 55% ( 55 % ) interest in ip asia coated paperboard ( ip- sun jv ) business , within the company's consumer packaging segment , to its chinese coated board joint venture partner , shandong sun holding group co. , ltd . for rmb 149 million ( approximately usd $ 23 million ) . during the third quarter of 2015 , a determination was made that the current book value of the asset group exceeded its estimated fair value of $ 23 million , which was the agreed upon selling price . the 2015 loss includes the net pre-tax impairment charge of $ 174 million ( $ 113 million after taxes ) . a pre-tax charge of $ 186 million was recorded during the third quarter in the company's consumer packaging segment to write down the long-lived assets of this business to their estimated fair value . in the fourth quarter of 2015 , upon the sale and corresponding deconsolidation of ip-sun jv from the company's consolidated balance sheet , final adjustments were made resulting in a reduction of the impairment of $ 12 million . the amount of pre-tax losses related to noncontrolling interest of the ip-sun jv included in the company's consolidated statement of operations for the years ended december 31 , 2015 , 2014 and 2013 were $ 19 million , $ 12 million and $ 8 million , respectively . the amount of pre-tax losses related to the ip-sun jv included in the company's .
Question: what was the consumer packaging profit margin 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: |
542.33333 | Context:2009 levels , we returned a portion of these assets to active service . at the end of 2010 , we continued to maintain in storage approximately 17% ( 17 % ) of our multiple purpose locomotives and 14% ( 14 % ) of our freight car inventory , reflecting our ability to effectively leverage our assets as volumes return to our network . 2022 fuel prices 2013 fuel prices generally increased throughout 2010 as the economy improved . our average diesel fuel price per gallon increased nearly 20% ( 20 % ) from january to december of 2010 , driven by higher crude oil barrel prices and conversion spreads . compared to 2009 , our diesel fuel price per gallon consumed increased 31% ( 31 % ) , driving operating expenses up by $ 566 million ( excluding any impact from year-over-year volume increases ) . to partially offset the effect of higher fuel prices , we reduced our consumption rate by 3% ( 3 % ) during the year , saving approximately 27 million gallons of fuel . the use of newer , more fuel efficient locomotives ; increased use of distributed locomotive power ( the practice of distributing locomotives throughout a train rather than positioning them all in the lead resulting in safer and more efficient train operations ) ; fuel conservation programs ; and efficient network operations and asset utilization all contributed to this improvement . 2022 free cash flow 2013 cash generated by operating activities ( adjusted for the reclassification of our receivables securitization facility ) totaled $ 4.5 billion , yielding record free cash flow of $ 1.4 billion in 2010 . free cash flow is defined as cash provided by operating activities ( adjusted for the reclassification of our receivables securitization facility ) , 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 u.s . ( 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 2010 2009 2008 .
|millions|2010|2009|2008|
|cash provided by operating activities|$ 4105|$ 3204|$ 4044|
|receivables securitization facility [a]|400|184|16|
|cash provided by operating activitiesadjusted for the receivables securitizationfacility|4505|3388|4060|
|cash used in investing activities|-2488 ( 2488 )|-2145 ( 2145 )|-2738 ( 2738 )|
|dividends paid|-602 ( 602 )|-544 ( 544 )|-481 ( 481 )|
|free cash flow|$ 1415|$ 699|$ 841|
[a] effective january 1 , 2010 , a new accounting standard required us to account for receivables transferred under our receivables securitization facility as secured borrowings in our consolidated statements of financial position and as financing activities in our consolidated statements of cash flows . the receivables securitization facility is included in our free cash flow calculation to adjust cash provided by operating activities as though our receivables securitization facility had been accounted for under the new accounting standard for all periods presented . 2011 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 will continue implementing total safety culture ( tsc ) throughout our operations . tsc is designed to establish , maintain , reinforce , and promote safe practices among co-workers . this process allows us to identify and implement best practices for employee and operational safety . reducing grade crossing incidents is a critical aspect of our safety programs , and we will continue our efforts to maintain and close crossings ; install video cameras on locomotives ; and educate the public and law enforcement agencies about crossing safety through a combination of our own programs ( including risk assessment strategies ) , various industry programs , and engaging local communities . 2022 transportation plan 2013 to build upon our success in recent years , we will continue evaluating traffic flows and network logistic patterns , which can be quite dynamic , to identify additional opportunities to simplify operations , remove network variability , and improve network efficiency and asset utilization . we plan to adjust manpower and our locomotive and rail car fleets to meet customer needs and put .
Question: what is the annual average dividend paid from 2008-2010 , in millions? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
6664.0 | Context:fiscal 2004 acquisitions in february 2004 , the company completed the acquisition of all the outstanding shares of accelerant networks , inc . ( accelerant ) for total consideration of $ 23.8 million , and the acquisition of the technology assets of analog design automation , inc . ( ada ) for total consideration of $ 12.2 million . the company acquired accelerant in order to enhance the company 2019s standards-based ip solutions . the company acquired the assets of ada in order to enhance the company 2019s analog and mixed signal offerings . in october 2004 , the company completed the acquisition of cascade semiconductor solutions , inc . ( cascade ) for total upfront consideration of $ 15.8 million and contingent consideration of up to $ 10.0 million to be paid upon the achievement of certain performance milestones over the three years following the acquisition . contingent consideration totaling $ 2.1 million was paid during the fourth quarter of fiscal 2005 and has been allocated to goodwill . the company acquired cascade , an ip provider , in order to augment synopsys 2019 offerings of pci express products . included in the total consideration for the accelerant and cascade acquisitions are aggregate acquisition costs of $ 4.3 million , consisting primarily of legal and accounting fees and other directly related charges . as of october 31 , 2006 the company has paid substantially all the costs related to these acquisitions . in fiscal 2004 , the company completed one additional acquisition and two additional asset acquisition transactions for aggregate consideration of $ 12.3 million in upfront payments and acquisition-related costs . in process research and development expenses associated with these acquisitions totaled $ 1.6 million for fiscal 2004 . these acquisitions are not considered material , individually or in the aggregate , to the company 2019s consolidated balance sheet and results of operations . as of october 31 , 2006 , the company has paid substantially all the costs related to these acquisitions . the company allocated the total aggregate purchase consideration for these transactions to the assets and liabilities acquired , including identifiable intangible assets , based on their respective fair values at the acquisition dates , resulting in aggregate goodwill of $ 24.5 million . aggregate identifiable intangible assets as a result of these acquisitions , consisting primarily of purchased technology and other intangibles , are $ 44.8 million , and are being amortized over three to five years . the company includes the amortization of purchased technology in cost of revenue in its statements of operations . note 4 . goodwill and intangible assets goodwill consists of the following: .
||( in thousands )|
|balance at october 31 2004|$ 593706|
|additions ( 1 )|169142|
|other adjustments ( 2 )|-33869 ( 33869 )|
|balance at october 31 2005|$ 728979|
|additions ( 3 )|27745|
|other adjustments ( 4 )|-21081 ( 21081 )|
|balance at october 31 2006|$ 735643|
( 1 ) during fiscal year 2005 , additions represent goodwill acquired in acquisitions of ise and nassda of $ 72.9 million and $ 92.4 million , respectively , and contingent consideration earned and paid of $ 1.7 million and $ 2.1 million related to an immaterial acquisition and the acquisition of cascade , respectively . ( 2 ) during fiscal year 2005 , synopsys reduced goodwill primarily related to tax reserves for avant! no longer probable due to expiration of the federal statute of limitations for claims. .
Question: what is the variation observed in the balance between 2005 and 2006 , in thousands? | Please answer the given financial question based on the context.At the end of your response provide the finale answer in this format Answer: |
0.40175 | Context:bhge 2017 form 10-k | 29 the rig counts are summarized in the table below as averages for each of the periods indicated. .
||2017|2016|2015|
|north america|1082|642|1178|
|international|948|956|1168|
|worldwide|2030|1598|2346|
2017 compared to 2016 overall the rig count was 2030 in 2017 , an increase of 27% ( 27 % ) as compared to 2016 due primarily to north american activity . the rig count in north america increased 69% ( 69 % ) in 2017 compared to 2016 . internationally , the rig count decreased 1% ( 1 % ) in 2017 as compared to the same period last year . within north america , the increase was primarily driven by the land rig count , which was up 72% ( 72 % ) , partially offset by a decrease in the offshore rig count of 16% ( 16 % ) . internationally , the rig count decrease was driven primarily by decreases in latin america of 7% ( 7 % ) , the europe region and africa region , which were down by 4% ( 4 % ) and 2% ( 2 % ) , respectively , partially offset by the asia-pacific region , which was up 8% ( 8 % ) . 2016 compared to 2015 overall the rig count was 1598 in 2016 , a decrease of 32% ( 32 % ) as compared to 2015 due primarily to north american activity . the rig count in north america decreased 46% ( 46 % ) in 2016 compared to 2015 . internationally , the rig count decreased 18% ( 18 % ) in 2016 compared to 2015 . within north america , the decrease was primarily driven by a 44% ( 44 % ) decline in oil-directed rigs . the natural gas- directed rig count in north america declined 50% ( 50 % ) in 2016 as natural gas well productivity improved . internationally , the rig count decrease was driven primarily by decreases in latin america , which was down 38% ( 38 % ) , the africa region , which was down 20% ( 20 % ) , and the europe region and asia-pacific region , which were down 18% ( 18 % ) and 15% ( 15 % ) , respectively . key performance indicators ( millions ) product services and backlog of product services our consolidated and combined statement of income ( loss ) displays sales and costs of sales in accordance with sec regulations under which "goods" is required to include all sales of tangible products and "services" must include all other sales , including other service activities . for the amounts shown below , we distinguish between "equipment" and "product services" , where product services refer to sales under product services agreements , including sales of both goods ( such as spare parts and equipment upgrades ) and related services ( such as monitoring , maintenance and repairs ) , which is an important part of its operations . we refer to "product services" simply as "services" within the business environment section of management's discussion and analysis . backlog is defined as unfilled customer orders for products and services believed to be firm . for product services , an amount is included for the expected life of the contract. .
Question: what portion of the rig counts is related to north america 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: |
Subsets and Splits