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what was the ratio of discretionary company contributions in 2015 compared to 2014 | 2.1199998856 | CodeFinQA | 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 , 2015 , the company held long-term credit ratings of bbb ( stable outlook ) and baa2 ( 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 , 2015 , were as follows: .
| In millions | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter |
| :--- | :--- | :--- | :--- | :--- | :--- | :--- |
| Maturities of long-term debt (a) | $426 | $43 | $811 | $427 | $183 | $7,436 |
| Lease obligations | 118 | 95 | 72 | 55 | 41 | 128 |
| Purchase obligations (b) | 3,001 | 541 | 447 | 371 | 358 | 1,579 |
| Total (c) | $3,545 | $679 | $1,330 | $853 | $582 | $9,143 |
( a ) total debt includes scheduled principal payments only . ( b ) includes $ 2.1 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 . ( c ) 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 $ 101 million . we consider the undistributed earnings of our foreign subsidiaries as of december 31 , 2015 , to be indefinitely reinvested and , accordingly , no u.s . income taxes have been provided thereon . as of december 31 , 2015 , the amount of cash associated with indefinitely reinvested foreign earnings was approximately $ 600 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 , 2015 , the projected benefit obligation for the company 2019s u.s . defined benefit plans determined under u.s . gaap was approximately $ 3.5 billion higher than the fair value of plan assets . approximately $ 3.2 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 contributions depend on the funding method selected by the company , and the timing of its implementation , as well as on actual demographic data and the targeted funding level . the company continually reassesses the amount and timing of any discretionary contributions and elected to make contributions totaling $ 750 million and $ 353 million for the years ended december 31 , 2015 and 2014 , respectively . at this time , we do not expect to have any required contributions to our plans in 2016 , although the company may elect to make future voluntary contributions . the timing and amount of future contributions , which could be material , will depend on a number of factors , including the actual earnings and changes in values of plan assets and changes in interest rates . international paper has announced a voluntary , limited-time opportunity for former employees who are participants in the retirement plan of international paper company ( the pension plan ) to request early payment of their entire pension plan benefit in the form of a single lump sum payment . eligible participants who wish to receive the lump sum payment must make an election between february 29 and april 29 , 2016 , and payment is scheduled to be made on or before june 30 , 2016 . all payments will be made from the pension plan trust assets . the target population has a total liability of $ 3.0 billion . the amount of the total payments will depend on the participation rate of eligible participants , but is expected to be approximately $ 1.5 billion . based on the expected level of payments , settlement accounting rules will apply in the period in which the payments are made . this will result in a plan remeasurement and the recognition in earnings of a pro-rata portion of unamortized net actuarial loss . ilim holding s.a . shareholder 2019s agreement in october 2007 , in connection with the formation of the ilim holding s.a . joint venture , international paper entered into a shareholder 2019s agreement that includes provisions relating to the reconciliation of disputes among the partners . this agreement was amended on may 7 , 2014 . pursuant to the amended agreement , beginning on january 1 , 2017 , either the company or its partners may commence certain procedures specified under the deadlock provisions . if these or any other deadlock provisions are commenced , the company may in certain situations , choose to purchase its partners 2019 50% ( 50 % ) interest in ilim . any such transaction would be subject to review and approval by russian and other relevant antitrust authorities . any such purchase by international paper would result in the consolidation of ilim 2019s financial position and results of operations in all subsequent periods. .
| string | null | discretionary_2015 = 750
discretionary_2014 = 353
ratio = discretionary_2015 / discretionary_2014
answer = ratio |
what percent of total other income was rental income in 2007? | 59 | CodeFinQA | be resolved , we cannot reasonably determine the probability of an adverse claim or reasonably estimate any adverse liability or the total maximum exposure under these indemnification arrangements . we do not have any reason to believe that we will be required to make any material payments under these indemnity provisions . income taxes 2013 as discussed in note 4 , the irs has completed its examinations and issued notices of deficiency for tax years 1995 through 2004 , and we are in different stages of the irs appeals process for these years . the irs is examining our tax returns for tax years 2005 and 2006 . in the third quarter of 2007 , we believe that we reached an agreement in principle with the irs to resolve all of the issues , except interest , related to tax years 1995 through 1998 , including the previously reported dispute over certain donations of property . we anticipate signing a closing agreement in 2008 . at december 31 , 2007 , we have recorded a current liability of $ 140 million for tax payments in 2008 related to federal and state income tax examinations . we do not expect that the ultimate resolution of these examinations will have a material adverse effect on our consolidated financial statements . 11 . other income other income included the following for the years ended december 31 : millions of dollars 2007 2006 2005 .
| <i>Millions of Dollars</i> | 2007 | 2006 | 2005 |
| :--- | :--- | :--- | :--- |
| Rental income | $ 68 | $ 83 | $ 59 |
| Net gain on non-operating asset dispositions | 52 | 72 | 135 |
| Interest income | 50 | 29 | 17 |
| Sale of receivables fees | (35) | (33) | (23) |
| Non-operating environmental costs and other | (19) | (33) | (43) |
| Total | $ 116 | $ 118 | $ 145 |
12 . share repurchase program on january 30 , 2007 , our board of directors authorized the repurchase of up to 20 million shares of union pacific corporation common stock through the end of 2009 . management 2019s assessments of market conditions and other pertinent facts guide the timing and volume of all repurchases . we expect to fund our common stock repurchases through cash generated from operations , the sale or lease of various operating and non- operating properties , debt issuances , and cash on hand at december 31 , 2007 . during 2007 , we repurchased approximately 13 million shares under this program at an aggregate purchase price of approximately $ 1.5 billion . these shares were recorded in treasury stock at cost , which includes any applicable commissions and fees. .
| string | null | rent_2007 = 68
rent_total = 116
percent_rent = rent_2007 / rent_total
answer = percent_rent * 100 |
what percentage of the total number of shares purchased where purchased in december? | 24 | CodeFinQA | purchases of equity securities 2013 during 2018 , we repurchased 57669746 shares of our common stock at an average price of $ 143.70 . the following table presents common stock repurchases during each month for the fourth quarter of 2018 : period total number of shares purchased [a] average price paid per share total number of shares purchased as part of a publicly announced plan or program [b] maximum number of shares remaining under the plan or program [b] .
| Period | Total Number of Shares Purchased [a] | Average Price Paid Per Share | Total Number of Shares Purchased as Part of a Publicly AnnouncedPlan or Program [b] | Maximum Number of Shares Remaining Under the Plan or Program [b] |
| :--- | :--- | :--- | :--- | :--- |
| Oct. 1 through Oct. 31 | 6,091,605 | $158.20 | 6,087,727 | 32,831,024 |
| Nov. 1 through Nov. 30 | 3,408,467 | 147.91 | 3,402,190 | 29,428,834 |
| Dec. 1 through Dec. 31 | 3,007,951 | 148.40 | 3,000,715 | 26,428,119 |
| Total | 12,508,023 | $153.04 | 12,490,632 | N/A |
[a] total number of shares purchased during the quarter includes approximately 17391 shares delivered or attested to upc by employees to pay stock option exercise prices , satisfy excess tax withholding obligations for stock option exercises or vesting of retention units , and pay withholding obligations for vesting of retention shares . [b] effective january 1 , 2017 , our board of directors authorized the repurchase of up to 120 million shares of our common stock by december 31 , 2020 . these repurchases may be made on the open market or through other transactions . our management has sole discretion with respect to determining the timing and amount of these transactions. .
| string | null | shares_purchased = 3007951
shares_total = 12508023
percent_december = shares_purchased / shares_total
answer = percent_december * 100 |
what was the percent of the total capital spending from continuing operations for industrial packaging in 2005 | 16.2000007629 | CodeFinQA | management believes it is important for interna- tional paper to maintain an investment-grade credit rat- ing to facilitate access to capital markets on favorable terms . at december 31 , 2005 , the company held long- term credit ratings of bbb ( negative 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 $ 1.5 billion for 2005 , compared with $ 2.1 billion in 2004 and $ 1.5 billion in 2003 . the major components of cash provided by continuing operations are earnings from continuing operations adjusted for non-cash in- come and expense items and changes in working capital . earnings from continuing operations adjusted for non-cash items declined by $ 83 million in 2005 versus 2004 . this compared with an increase of $ 612 million for 2004 over 2003 . working capital , representing international paper 2019s investments in accounts receivable and inventory less accounts payable and accrued liabilities , was $ 2.6 billion at december 31 , 2005 . cash used for working capital components increased by $ 591 million in 2005 , com- pared with a $ 86 million increase in 2004 and an $ 11 million increase in 2003 . the increase in 2005 was principally due to a decline in accrued liabilities at de- cember 31 , 2005 . investment activities capital spending from continuing operations was $ 1.2 billion in 2005 , or 84% ( 84 % ) of depreciation and amor- tization , comparable to the $ 1.2 billion , or 87% ( 87 % ) of depreciation and amortization in 2004 , and $ 1.0 billion , or 74% ( 74 % ) of depreciation and amortization in 2003 . the following table presents capital spending from continuing operations by each of our business segments for the years ended december 31 , 2005 , 2004 and 2003 . in millions 2005 2004 2003 .
| <i>In millions</i> | 2005 | 2004 | 2003 |
| :--- | :--- | :--- | :--- |
| Printing Papers | $658 | $590 | $482 |
| Industrial Packaging | 187 | 179 | 165 |
| Consumer Packaging | 131 | 205 | 128 |
| Distribution | 9 | 5 | 12 |
| Forest Products | 121 | 126 | 121 |
| Specialty Businesses and Other | 31 | 39 | 31 |
| Subtotal | 1,137 | 1,144 | 939 |
| Corporate and other | 18 | 32 | 54 |
| Total from continuing operations | $1,155 | $1,176 | $993 |
we expect capital expenditures in 2006 to be about $ 1.2 billion , or about 80% ( 80 % ) of depreciation and amor- tization . we will continue to focus our future capital spending on improving our key platform businesses in north america and on investments in geographic areas with strong growth opportunities . acquisitions in october 2005 , international paper acquired ap- proximately 65% ( 65 % ) of compagnie marocaine des cartons et des papiers ( cmcp ) , a leading moroccan corrugated packaging company , for approximately $ 80 million in cash plus assumed debt of approximately $ 40 million . in august 2005 , pursuant to an existing agreement , international paper purchased a 50% ( 50 % ) third-party interest in ippm ( subsequently renamed international paper distribution limited ) for $ 46 million to facilitate possi- ble further growth in asian markets . in 2001 , interna- tional paper had acquired a 25% ( 25 % ) interest in this business . the accompanying consolidated balance sheet as of december 31 , 2005 includes preliminary estimates of the fair values of the assets and liabilities acquired , including approximately $ 50 million of goodwill . in july 2004 , international paper acquired box usa holdings , inc . ( box usa ) for approximately $ 400 million , including the assumption of approximately $ 197 million of debt , of which approximately $ 193 mil- lion was repaid by july 31 , 2004 . each of the above acquisitions was accounted for using the purchase method . the operating results of these acquisitions have been included in the con- solidated statement of operations from the dates of ac- quisition . financing activities 2005 : financing activities during 2005 included debt issuances of $ 1.0 billion and retirements of $ 2.7 billion , for a net debt and preferred securities reduction of $ 1.7 billion . in november and december 2005 , international paper investments ( luxembourg ) s.ar.l. , a wholly- owned subsidiary of international paper , issued $ 700 million of long-term debt with an initial interest rate of libor plus 40 basis points that can vary depending upon the credit rating of the company , and a maturity date in november 2010 . additionally , the subsidiary borrowed $ 70 million under a bank credit agreement with an initial interest rate of libor plus 40 basis points that can vary depending upon the credit rating of the company , and a maturity date in november 2006 . in december 2005 , international paper used pro- ceeds from the above borrowings , and from the sale of chh in the third quarter of 2005 , to repay approx- imately $ 190 million of notes with coupon rates ranging from 3.8% ( 3.8 % ) to 10% ( 10 % ) and original maturities from 2008 to 2029 . the remaining proceeds from the borrowings and the chh sale will be used for further debt reductions in the first quarter of 2006. .
| string | null | industrial_packaging = 187
total_cash = 1155
percent_2005 = industrial_packaging / total_cash
answer = percent_2005 * 100 |
at december 31 , 2018 what was the percent of the total future minimum lease commitments under the leases that was due in 2020 | 14.1000003815 | CodeFinQA | business subsequent to the acquisition . the liabilities for these payments are classified as level 3 liabilities because the related fair value measurement , which is determined using an income approach , includes significant inputs not observable in the market . financial assets and liabilities not measured at fair value our debt is reflected on the consolidated balance sheets at cost . based on market conditions as of december 31 , 2018 and 2017 , the fair value of our credit agreement borrowings reasonably approximated the carrying values of $ 1.7 billion and $ 2.0 billion , respectively . in addition , based on market conditions , the fair values of the outstanding borrowings under the receivables facility reasonably approximated the carrying values of $ 110 million and $ 100 million at december 31 , 2018 and december 31 , 2017 , respectively . as of december 31 , 2018 and december 31 , 2017 , the fair values of the u.s . notes ( 2023 ) were approximately $ 574 million and $ 615 million , respectively , compared to a carrying value of $ 600 million at each date . as of december 31 , 2018 and december 31 , 2017 , the fair values of the euro notes ( 2024 ) were approximately $ 586 million and $ 658 million compared to carrying values of $ 573 million and $ 600 million , respectively . as of december 31 , 2018 , the fair value of the euro notes ( 2026/28 ) approximated the carrying value of $ 1.1 billion . the fair value measurements of the borrowings under our credit agreement and receivables facility are classified as level 2 within the fair value hierarchy since they are determined based upon significant inputs observable in the market , including interest rates on recent financing transactions with similar terms and maturities . we estimated the fair value by calculating the upfront cash payment a market participant would require at december 31 , 2018 to assume these obligations . the fair value of our u.s . notes ( 2023 ) is classified as level 1 within the fair value hierarchy since it is determined based upon observable market inputs including quoted market prices in an active market . the fair values of our euro notes ( 2024 ) and euro notes ( 2026/28 ) are determined based upon observable market inputs including quoted market prices in markets that are not active , and therefore are classified as level 2 within the fair value hierarchy . note 13 . 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 , 2018 are as follows ( in thousands ) : years ending december 31: .
| 2019 | $294,269 |
| :--- | :--- |
| 2020 | 256,172 |
| 2021 | 210,632 |
| 2022 | 158,763 |
| 2023 | 131,518 |
| Thereafter | 777,165 |
| Future Minimum Lease Payments | $1,828,519 |
rental expense for operating leases was approximately $ 300 million , $ 247 million , and $ 212 million during the years ended december 31 , 2018 , 2017 and 2016 , respectively . we guarantee 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 guarantees at december 31 , 2018 , our portion of the guaranteed residual value would have totaled approximately $ 76 million . we have not recorded a liability for the guaranteed residual value of equipment under operating leases as the recovery on disposition of the equipment under the leases is expected to approximate the guaranteed residual value . litigation and related contingencies we have certain contingencies resulting from litigation , claims and other commitments and are subject to a variety of environmental and pollution control laws and regulations incident to the ordinary course of business . we currently expect that the resolution of such contingencies will not materially affect our financial position , results of operations or cash flows. .
| string | null | commitments_2020 = 256172
commitments_total = 1828519
percent_2020 = commitments_2020 / commitments_total
answer = percent_2020 * 100 |
what was the change in millions of compensation and benefits from 2008 to 2009? | 394 | CodeFinQA | intermodal 2013 decreased volumes and fuel surcharges reduced freight revenue from intermodal shipments in 2009 versus 2008 . volume from international traffic decreased 24% ( 24 % ) in 2009 compared to 2008 , reflecting economic conditions , continued weak imports from asia , and diversions to non-uprr served ports . additionally , continued weakness in the domestic housing and automotive sectors translated into weak demand in large sectors of the international intermodal market , which also contributed to the volume decline . conversely , domestic traffic increased 8% ( 8 % ) in 2009 compared to 2008 . a new contract with hub group , inc. , which included additional shipments , was executed in the second quarter of 2009 and more than offset the impact of weak market conditions in the second half of 2009 . price increases and fuel surcharges generated higher revenue in 2008 , partially offset by lower volume levels . international traffic declined 11% ( 11 % ) in 2008 , reflecting continued softening of imports from china and the loss of a customer contract . notably , the peak intermodal shipping season , which usually starts in the third quarter , was particularly weak in 2008 . additionally , continued weakness in domestic housing and automotive sectors translated into weak demand in large sectors of the international intermodal market , which also contributed to lower volumes . domestic traffic declined 3% ( 3 % ) in 2008 due to the loss of a customer contract and lower volumes from less-than-truckload shippers . additionally , the flood-related embargo on traffic in the midwest during the second quarter hindered intermodal volume levels in 2008 . mexico business 2013 each of our commodity groups include revenue from shipments to and from mexico . revenue from mexico business decreased 26% ( 26 % ) in 2009 versus 2008 to $ 1.2 billion . volume declined in five of our six commodity groups , down 19% ( 19 % ) in 2009 , driven by 32% ( 32 % ) and 24% ( 24 % ) reductions in industrial products and automotive shipments , respectively . conversely , energy shipments increased 9% ( 9 % ) in 2009 versus 2008 , partially offsetting these declines . revenue from mexico business increased 13% ( 13 % ) to $ 1.6 billion in 2008 compared to 2007 . price improvements and fuel surcharges contributed to these increases , partially offset by a 4% ( 4 % ) decline in volume in 2008 compared to 2007 . operating expenses millions of dollars 2009 2008 2007 % ( % ) change 2009 v 2008 % ( % ) change 2008 v 2007 .
| <i>Millions of Dollars</i> | <i>2009</i> | <i>2008</i> | <i>2007</i> | <i>% Change 2009 v 2008</i> | % Change 2008 v 2007 |
| :--- | :--- | :--- | :--- | :--- | :--- |
| Compensation and benefits | $4,063 | $4,457 | $4,526 | (9)% | (2)% |
| Fuel | 1,763 | 3,983 | 3,104 | (56) | 28 |
| Purchased services and materials | 1,614 | 1,902 | 1,856 | (15) | 2 |
| Depreciation | 1,444 | 1,387 | 1,321 | 4 | 5 |
| Equipment and other rents | 1,180 | 1,326 | 1,368 | (11) | (3) |
| Other | 687 | 840 | 733 | (18) | 15 |
| Total | $10,751 | $13,895 | $12,908 | (23)% | 8% |
2009 intermodal revenue international domestic .
| string | null | compensation_and_benefits_change = 4063 - 4457
fuel_change = 1763 - 3983
purchased_services_and_materials_change = 1614 - 1902
depreciation_change = 1444 - 1387
equipment_and_other_rents_change = 1180 - 1326
other_change = 687 - 840
answer = compensation_and_benefits_change |
what percentage of mixed use units are owned? | 6.7399997711 | CodeFinQA | item 2 . properties . bd 2019s executive offices are located in franklin lakes , new jersey . as of october 31 , 2017 , bd owned or leased 289 facilities throughout the world , comprising approximately 20462405 square feet of manufacturing , warehousing , administrative and research facilities . the u.s . facilities , including those in puerto rico , comprise approximately 7472419 square feet of owned and 2976267 square feet of leased space . the international facilities comprise approximately 7478714 square feet of owned and 2535005 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 | 14 | 25 | 96 | 83 | 218 |
| Owned | 6 | 26 | 33 | 6 | 71 |
| Total | 20 | 51 | 129 | 89 | 289 |
| Square feet | 2,263,694 | 4,421,732 | 10,838,632 | 2,938,347 | 20,462,405 |
( 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 , missouri , 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 , israel , italy , kenya , luxembourg , netherlands , norway , poland , portugal , russia , saudi arabia , south africa , spain , sweden , switzerland , turkey , the united arab emirates and zambia . - greater asia , which includes facilities in australia , bangladesh , china , india , indonesia , japan , malaysia , new zealand , the philippines , singapore , south korea , taiwan , thailand and vietnam . - latin america , which includes facilities in argentina , brazil , chile , colombia , mexico , peru and the dominican republic . - canada . item 3 . legal proceedings . information with respect to certain legal proceedings is included in note 5 to the consolidated financial statements contained in item 8 . financial statements and supplementary data , and is incorporated herein by reference . item 4 . mine safety disclosures . not applicable. .
| string | null | mixed_use_units = 6
total_units = 89
percent_mixed = mixed_use_units / total_units
answer = percent_mixed * 100 |
what percentage of total freight revenues was the coal commodity group in 2013? | 18 | CodeFinQA | 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 , 201ccompany 201d , 201cupc 201d , 201cwe 201d , 201cus 201d , and 201cour 201d mean union pacific corporation and its subsidiaries , including union pacific railroad company , which will be separately referred to herein as 201cuprr 201d or the 201crailroad 201d . 1 . nature of operations operations and segmentation 2013 we are a class i railroad operating in the u.s . our network includes 31974 route miles , linking pacific coast and gulf coast ports with the midwest and eastern u.s . gateways and providing several corridors to key mexican gateways . we own 26012 miles and operate on the remainder pursuant to trackage rights or leases . we serve the western two-thirds of the country and maintain coordinated schedules with other rail carriers for the handling of freight to and from the atlantic coast , the pacific coast , the southeast , the southwest , canada , and mexico . export and import traffic is moved through gulf coast and pacific coast ports and across the mexican and canadian borders . the railroad , along with its subsidiaries and rail affiliates , is our one reportable operating segment . although we provide and review revenue by commodity group , we analyze the net financial results of the railroad as one segment due to the integrated nature of our rail network . the following table provides freight revenue by commodity group : millions 2014 2013 2012 .
| <i>Millions</i> | <i>2014</i> | <i>2013</i> | <i>2012</i> |
| :--- | :--- | :--- | :--- |
| Agricultural Products | $3,777 | $3,276 | $3,280 |
| Automotive | 2,103 | 2,077 | 1,807 |
| Chemicals | 3,664 | 3,501 | 3,238 |
| Coal | 4,127 | 3,978 | 3,912 |
| Industrial Products | 4,400 | 3,822 | 3,494 |
| Intermodal | 4,489 | 4,030 | 3,955 |
| Total freight revenues | $22,560 | $20,684 | $19,686 |
| Other revenues | 1,428 | 1,279 | 1,240 |
| Total operatingrevenues | $23,988 | $21,963 | $20,926 |
although our revenues are principally derived from customers domiciled in the u.s. , the ultimate points of origination or destination for some products transported by us are outside the u.s . each of our commodity groups includes revenue from shipments to and from mexico . included in the above table are revenues from our mexico business which amounted to $ 2.3 billion in 2014 , $ 2.1 billion in 2013 , and $ 1.9 billion in 2012 . basis of presentation 2013 the consolidated financial statements are presented in accordance with accounting principles generally accepted in the u.s . ( gaap ) as codified in the financial accounting standards board ( fasb ) accounting standards codification ( asc ) . 2 . significant accounting policies principles of consolidation 2013 the consolidated financial statements include the accounts of union pacific corporation and all of its subsidiaries . investments in affiliated companies ( 20% ( 20 % ) to 50% ( 50 % ) owned ) are accounted for using the equity method of accounting . all intercompany transactions are eliminated . we currently have no less than majority-owned investments that require consolidation under variable interest entity requirements . cash and cash equivalents 2013 cash equivalents consist of investments with original maturities of three months or less . accounts receivable 2013 accounts receivable includes receivables reduced by an allowance for doubtful accounts . the allowance is based upon historical losses , credit worthiness of customers , and current economic conditions . receivables not expected to be collected in one year and the associated allowances are classified as other assets in our consolidated statements of financial position. .
| string | null | revenue_coal = 3978
revenue_total = 21963
percent_coal = revenue_coal / revenue_total
answer = percent_coal * 100 |
what is the net change in sales and revenues from 2017 to 2018 , in billions? | 9.2600002289 | CodeFinQA | 2018 a0form 10-k18 item 7 . management 2019s discussion and analysis of financial condition and results of operations . this management 2019s discussion and analysis of financial condition and results of operations should be read in conjunction with our discussion of cautionary statements and significant risks to the company 2019s business under item 1a . risk factors of the 2018 form a010-k . overview our sales and revenues for 2018 were $ 54.722 billion , a 20 a0percent increase from 2017 sales and revenues of $ 45.462 a0billion . the increase was primarily due to higher sales volume , mostly due to improved demand across all regions and across the three primary segments . profit per share for 2018 was $ 10.26 , compared to profit per share of $ 1.26 in 2017 . profit was $ 6.147 billion in 2018 , compared with $ 754 million in 2017 . the increase was primarily due to lower tax expense , higher sales volume , decreased restructuring costs and improved price realization . the increase was partially offset by higher manufacturing costs and selling , general and administrative ( sg&a ) and research and development ( r&d ) expenses and lower profit from the financial products segment . fourth-quarter 2018 sales and revenues were $ 14.342 billion , up $ 1.446 billion , or 11 percent , from $ 12.896 billion in the fourth quarter of 2017 . fourth-quarter 2018 profit was $ 1.78 per share , compared with a loss of $ 2.18 per share in the fourth quarter of 2017 . fourth-quarter 2018 profit was $ 1.048 billion , compared with a loss of $ 1.299 billion in 2017 . highlights for 2018 include : zz sales and revenues in 2018 were $ 54.722 billion , up 20 a0percent from 2017 . sales improved in all regions and across the three primary segments . zz operating profit as a percent of sales and revenues was 15.2 a0percent in 2018 , compared with 9.8 percent in 2017 . adjusted operating profit margin was 15.9 percent in 2018 , compared with 12.5 percent in 2017 . zz profit was $ 10.26 per share for 2018 , and excluding the items in the table below , adjusted profit per share was $ 11.22 . for 2017 profit was $ 1.26 per share , and excluding the items in the table below , adjusted profit per share was $ 6.88 . zz in order for our results to be more meaningful to our readers , we have separately quantified the impact of several significant items: .
| | Full Year 2018 | Full Year 2017 |
| :--- | :--- | :--- |
| (Millions of dollars) | Profit Before Taxes | ProfitPer Share | Profit Before Taxes | ProfitPer Share |
| Profit | $7,822 | $10.26 | $4,082 | $1.26 |
| Restructuring costs | 386 | 0.50 | 1,256 | 1.68 |
| Mark-to-market losses | 495 | 0.64 | 301 | 0.26 |
| Deferred tax valuation allowance adjustments | — | (0.01) | — | (0.18) |
| U.S. tax reform impact | — | (0.17) | — | 3.95 |
| Gain on sale of equity investment | — | — | (85) | (0.09) |
| Adjusted profit | $8,703 | $11.22 | $5,554 | $6.88 |
zz machinery , energy & transportation ( me&t ) operating cash flow for 2018 was about $ 6.3 billion , more than sufficient to cover capital expenditures and dividends . me&t operating cash flow for 2017 was about $ 5.5 billion . restructuring costs in recent years , we have incurred substantial restructuring costs to achieve a flexible and competitive cost structure . during 2018 , we incurred $ 386 million of restructuring costs related to restructuring actions across the company . during 2017 , we incurred $ 1.256 billion of restructuring costs with about half related to the closure of the facility in gosselies , belgium , and the remainder related to other restructuring actions across the company . although we expect restructuring to continue as part of ongoing business activities , restructuring costs should be lower in 2019 than 2018 . notes : zz glossary of terms included on pages 33-34 ; first occurrence of terms shown in bold italics . zz information on non-gaap financial measures is included on pages 42-43. .
| string | null | sales_2018 = 54.722
sales_2017 = 45.462
change_in_sales = sales_2018 - sales_2017
answer = change_in_sales |
what is the total number of securities approved by stockholders? | 55.2999992371 | CodeFinQA | bhge 2017 form 10-k | 103 part iii item 10 . directors , executive officers and corporate governance information regarding our code of conduct , the spirit and the letter , and code of ethical conduct certificates for our principal executive officer , principal financial officer and principal accounting officer are described in item 1 . business of this annual report . information concerning our directors is set forth in the sections entitled "proposal no . 1 , election of directors - board nominees for directors" and "corporate governance - committees of the board" in our definitive proxy statement for the 2018 annual meeting of stockholders to be filed with the sec pursuant to the exchange act within 120 days of the end of our fiscal year on december 31 , 2017 ( "proxy statement" ) , which sections are incorporated herein by reference . for information regarding our executive officers , see "item 1 . business - executive officers of baker hughes" in this annual report on form 10-k . additional information regarding compliance by directors and executive officers with section 16 ( a ) of the exchange act is set forth under the section entitled "section 16 ( a ) beneficial ownership reporting compliance" in our proxy statement , which section is incorporated herein by reference . item 11 . executive compensation information for this item is set forth in the following sections of our proxy statement , which sections are incorporated herein by reference : "compensation discussion and analysis" "director compensation" "compensation committee interlocks and insider participation" and "compensation committee report." item 12 . security ownership of certain beneficial owners and management and related stockholder matters information concerning security ownership of certain beneficial owners and our management is set forth in the sections entitled "stock ownership of certain beneficial owners" and 201cstock ownership of section 16 ( a ) director and executive officers 201d ) in our proxy statement , which sections are incorporated herein by reference . we permit our employees , officers and directors to enter into written trading plans complying with rule 10b5-1 under the exchange act . rule 10b5-1 provides criteria under which such an individual may establish a prearranged plan to buy or sell a specified number of shares of a company's stock over a set period of time . any such plan must be entered into in good faith at a time when the individual is not in possession of material , nonpublic information . if an individual establishes a plan satisfying the requirements of rule 10b5-1 , such individual's subsequent receipt of material , nonpublic information will not prevent transactions under the plan from being executed . certain of our officers have advised us that they have and may enter into stock sales plans for the sale of shares of our class a common stock which are intended to comply with the requirements of rule 10b5-1 of the exchange act . in addition , the company has and may in the future enter into repurchases of our class a common stock under a plan that complies with rule 10b5-1 or rule 10b-18 of the exchange act . equity compensation plan information the information in the following table is presented as of december 31 , 2017 with respect to shares of our class a common stock that may be issued under our lti plan which has been approved by our stockholders ( in millions , except per share prices ) . equity compensation plan category number of securities to be issued upon exercise of outstanding options , warrants and rights weighted average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in the first column ) .
| Equity Compensation PlanCategory | Number ofSecurities to beIssued UponExercise ofOutstandingOptions, Warrantsand Rights | Weighted AverageExercise Price ofOutstandingOptions, Warrantsand Rights | Number of SecuritiesRemaining Availablefor Future IssuanceUnder EquityCompensation Plans(excluding securitiesreflected in the firstcolumn) |
| :--- | :--- | :--- | :--- |
| Stockholder-approved plans | 1.6 | $36.61 | 53.7 |
| Nonstockholder-approved plans | — | — | — |
| Total | 1.6 | $36.61 | 53.7 |
.
| string | null | securities_approved = 1.6 + 53.7
answer = securities_approved |
what percentage did the balance increase from 2007 to 2010? | 86.5 | CodeFinQA | of global business , there are many transactions and calculations where the ultimate tax outcome is uncertain . some of these uncertainties arise as a consequence of cost reimbursement arrangements among related entities . although the company believes its estimates are reasonable , no assurance can be given that the final tax outcome of these matters will not be different than that which is reflected in the historical income tax provisions and accruals . such differences could have a material impact on the company 2019s income tax provision and operating results in the period in which such determination is made . on november 4 , 2007 ( the first day of its 2008 fiscal year ) , the company adopted new accounting principles on accounting for uncertain tax positions . these principles require companies to determine whether it is 201cmore likely than not 201d that a tax position will be sustained upon examination by the appropriate taxing authorities before any benefit can be recorded in the financial statements . an uncertain income tax position will not be recognized if it has less than a 50% ( 50 % ) likelihood of being sustained . there were no changes to the company 2019s liabilities for uncertain tax positions as a result of the adoption of these provisions . as of october 30 , 2010 and october 31 , 2009 , the company had a liability of $ 18.4 million and $ 18.2 million , respectively , for gross unrealized tax benefits , all of which , if settled in the company 2019s favor , would lower the company 2019s effective tax rate in the period recorded . in addition , as of october 30 , 2010 and october 31 , 2009 , the company had a liability of approximately $ 9.8 million and $ 8.0 million , respectively , for interest and penalties . the total liability as of october 30 , 2010 and october 31 , 2009 of $ 28.3 million and $ 26.2 million , respectively , for uncertain tax positions is classified as non-current , and is 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 years 2010 , 2009 and 2008 include $ 1.8 million , $ 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 through fiscal 2010. .
| Balance, November 3, 2007 | $9,889 |
| :--- | :--- |
| Additions for tax positions of 2008 | 3,861 |
| Balance, November 1, 2008 | 13,750 |
| Additions for tax positions of 2009 | 4,411 |
| Balance, October 31, 2009 | 18,161 |
| Additions for tax positions of 2010 | 286 |
| Balance, October 30, 2010 | $18,447 |
fiscal years 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 analog devices , inc . notes to consolidated financial statements 2014 ( continued ) .
| string | null | balance_2010 = 18447
balance_2007 = 9889
increase = balance_2010 - balance_2007
percent_increase = increase / balance_2007
answer = percent_increase * 100 |
what percent increase was the adjustments to state inventories of the 2016 starting inventories? | 5 | CodeFinQA | 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 31,2016 | January 2,2016 |
| :--- | :--- | :--- |
| Inventories at FIFO, net | $4,120,030 | $4,009,641 |
| Adjustments to state inventories at LIFO | 205,838 | 165,127 |
| Inventories at LIFO, net | $4,325,868 | $4,174,768 |
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. .
| string | null | adjustments_2016 = 205838
inventory_2016 = 4120030
percent_adjustments = adjustments_2016 / inventory_2016
answer = percent_adjustments * 100 |
what was the percentage change in free cash flow from 2007 to 2008? | 69 | CodeFinQA | 2022 asset utilization 2013 in response to economic conditions and lower revenue in 2009 , we implemented productivity initiatives to improve efficiency and reduce costs , in addition to adjusting our resources to reflect lower demand . although varying throughout the year , our resource reductions included removing from service approximately 26% ( 26 % ) of our road locomotives and 18% ( 18 % ) of our freight car inventory by year end . we also reduced shift levels at most rail facilities and closed or significantly reduced operations in 30 of our 114 principal rail yards . these demand-driven resource adjustments and our productivity initiatives combined to reduce our workforce by 10% ( 10 % ) . 2022 fuel prices 2013 as the economy worsened during the third and fourth quarters of 2008 , fuel prices dropped dramatically , reaching $ 33.87 per barrel in december 2008 , a near five-year low . throughout 2009 , crude oil prices generally increased , ending the year around $ 80 per barrel . overall , our average fuel price decreased by 44% ( 44 % ) in 2009 , reducing operating expenses by $ 1.3 billion compared to 2008 . we also reduced our consumption rate by 4% ( 4 % ) during the year , saving approximately 40 million gallons of fuel . the use of newer , more fuel efficient locomotives ; increased use of distributed locomotive power ; fuel conservation programs ; and improved network operations and asset utilization all contributed to this improvement . 2022 free cash flow 2013 cash generated by operating activities totaled $ 3.2 billion , yielding free cash flow of $ 515 million in 2009 . free cash flow is defined as cash provided by operating activities , less cash used in investing activities and dividends paid . free cash flow is not considered a financial measure under accounting principles generally accepted in the united states ( gaap ) by sec regulation g and item 10 of sec regulation s-k . we believe free cash flow is important in evaluating our financial performance and measures our ability to generate cash without additional external financings . free cash flow should be considered in addition to , rather than as a substitute for , cash provided by operating activities . the following table reconciles cash provided by operating activities ( gaap measure ) to free cash flow ( non-gaap measure ) : millions of dollars 2009 2008 2007 .
| <i>Millions of Dollars</i> | <i>2009</i> | 2008 | 2007 |
| :--- | :--- | :--- | :--- |
| Cash provided by operating activities | $3,234 | $4,070 | $3,277 |
| Cash used in investing activities | (2,175) | (2,764) | (2,426) |
| Dividends paid | (544) | (481) | (364) |
| Free cash flow | $515 | $825 | $487 |
2010 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 by 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 , upgrade , and close crossings ; install video cameras on locomotives ; and educate the public about crossing safety through our own programs , various industry programs , and other activities . 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 from year-to-year , 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 .
| string | null | free_cash_flow_2008 = 825
free_cash_flow_2007 = 487
difference = free_cash_flow_2008 - free_cash_flow_2007
percent_change = difference / free_cash_flow_2007
answer = percent_change * 100 |
what percentage of the total commercial commitments is credit facilities? | 69 | CodeFinQA | amount of commitment expiration per period other commercial commitments after millions total 2015 2016 2017 2018 2019 2019 .
| | | <i>Amount of Commitment Expiration per Period</i> |
| :--- | :--- | :--- |
| <i>Other Commercial Commitments</i><i>Millions</i> | <i>Total</i> | <i>2015</i> | <i>2016</i> | <i>2017</i> | <i>2018</i> | <i>2019</i> | <i>After</i><i>2019</i> |
| Credit facilities [a] | $1,700 | $- | $- | $- | $- | $1,700 | $- |
| Receivables securitization facility [b] | 650 | - | - | 650 | - | - | - |
| Guarantees [c] | 82 | 12 | 26 | 10 | 11 | 8 | 15 |
| Standby letters of credit [d] | 40 | 34 | 6 | - | - | - | - |
| Total commercialcommitments | $2,472 | $46 | $32 | $660 | $11 | $1,708 | $15 |
[a] none of the credit facility was used as of december 31 , 2014 . [b] $ 400 million of the receivables securitization facility was utilized as of december 31 , 2014 , which is accounted for as debt . the full program matures in july 2017 . [c] includes guaranteed obligations related to our equipment financings and affiliated operations . [d] none of the letters of credit were drawn upon as of december 31 , 2014 . off-balance sheet arrangements guarantees 2013 at december 31 , 2014 , and 2013 , we were contingently liable for $ 82 million and $ 299 million in guarantees . we have recorded liabilities of $ 0.3 million and $ 1 million for the fair value of these obligations as of december 31 , 2014 , and 2013 , respectively . we entered into these contingent guarantees in the normal course of business , and they include guaranteed obligations related to our 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 85% ( 85 % ) of our 47201 full-time-equivalent employees are represented by 14 major rail unions . on january 1 , 2015 , current labor agreements became subject to modification and we began the current round of negotiations with the unions . existing agreements remain in effect until new agreements are reached or the railway labor act 2019s procedures ( which include mediation , cooling-off periods , and the possibility of presidential emergency boards and congressional intervention ) are exhausted . contract negotiations historically continue for an extended period of time and we rarely experience work stoppages while negotiations are pending . 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 , 2014 and 2013 , we were not required to provide collateral , nor had we received collateral , relating to our hedging activities. .
| string | null | credit_facilities = 1700
other_commitments = 2472
percent_credit_facilities = credit_facilities / other_commitments
answer = percent_credit_facilities * 100 |
what is the percentage change in the balance of target date/risk from 2016 to 2017? | 33.5 | CodeFinQA | long-term product offerings include alpha-seeking active and index strategies . our alpha-seeking active strategies seek to earn attractive returns in excess of a market benchmark or performance hurdle while maintaining an appropriate risk profile , and leverage fundamental research and quantitative models to drive portfolio construction . in contrast , index strategies seek to closely track the returns of a corresponding index , generally by investing in substantially the same underlying securities within the index or in a subset of those securities selected to approximate a similar risk and return profile of the index . index strategies include both our non-etf index products and ishares etfs . although many clients use both alpha-seeking active and index strategies , the application of these strategies may differ . for example , clients may use index products to gain exposure to a market or asset class , or may use a combination of index strategies to target active returns . in addition , institutional non-etf index assignments tend to be very large ( multi-billion dollars ) and typically reflect low fee rates . net flows in institutional index products generally have a small impact on blackrock 2019s revenues and earnings . equity year-end 2017 equity aum totaled $ 3.372 trillion , reflecting net inflows of $ 130.1 billion . net inflows included $ 174.4 billion into ishares etfs , driven by net inflows into core funds and broad developed and emerging market equities , partially offset by non-etf index and active net outflows of $ 25.7 billion and $ 18.5 billion , respectively . blackrock 2019s effective fee rates fluctuate due to changes in aum mix . approximately half of blackrock 2019s equity aum is tied to international markets , including emerging markets , which tend to have higher fee rates than u.s . equity strategies . accordingly , fluctuations in international equity markets , which may not consistently move in tandem with u.s . markets , have a greater impact on blackrock 2019s equity revenues and effective fee rate . fixed income fixed income aum ended 2017 at $ 1.855 trillion , reflecting net inflows of $ 178.8 billion . in 2017 , active net inflows of $ 21.5 billion were diversified across fixed income offerings , and included strong inflows into municipal , unconstrained and total return bond funds . ishares etfs net inflows of $ 67.5 billion were led by flows into core , corporate and treasury bond funds . non-etf index net inflows of $ 89.8 billion were driven by demand for liability-driven investment solutions . multi-asset blackrock 2019s multi-asset team manages a variety of balanced funds and bespoke mandates for a diversified client base that leverages our broad investment expertise in global equities , bonds , currencies and commodities , and our extensive risk management capabilities . investment solutions might include a combination of long-only portfolios and alternative investments as well as tactical asset allocation overlays . component changes in multi-asset aum for 2017 are presented below . ( in millions ) december 31 , net inflows ( outflows ) market change impact december 31 .
| (in millions) | December 31,2016 | Net inflows (outflows) | Marketchange | FXimpact | December 31,2017 |
| :--- | :--- | :--- | :--- | :--- | :--- |
| Asset allocation and balanced | $176,675 | $(2,502) | $17,387 | $4,985 | $196,545 |
| Target date/risk | 149,432 | 23,925 | 24,532 | 1,577 | 199,466 |
| Fiduciary | 68,395 | (1,047) | 7,522 | 8,819 | 83,689 |
| FutureAdvisor<sup>(1)</sup> | 505 | (46) | 119 | — | 578 |
| Total | $395,007 | $20,330 | $49,560 | $15,381 | $480,278 |
( 1 ) futureadvisor amounts do not include aum held in ishares etfs . multi-asset net inflows reflected ongoing institutional demand for our solutions-based advice with $ 18.9 billion of net inflows coming from institutional clients . defined contribution plans of institutional clients remained a significant driver of flows , and contributed $ 20.8 billion to institutional multi-asset net inflows in 2017 , primarily into target date and target risk product offerings . retail net inflows of $ 1.1 billion reflected demand for our multi-asset income fund family , which raised $ 5.8 billion in 2017 . the company 2019s multi-asset strategies include the following : 2022 asset allocation and balanced products represented 41% ( 41 % ) of multi-asset aum at year-end . these strategies combine equity , fixed income and alternative components for investors seeking a tailored solution relative to a specific benchmark and within a risk budget . in certain cases , these strategies seek to minimize downside risk through diversification , derivatives strategies and tactical asset allocation decisions . flagship products in this category include our global allocation and multi-asset income fund families . 2022 target date and target risk products grew 16% ( 16 % ) organically in 2017 , with net inflows of $ 23.9 billion . institutional investors represented 93% ( 93 % ) of target date and target risk aum , with defined contribution plans accounting for 87% ( 87 % ) of aum . flows were driven by defined contribution investments in our lifepath offerings . lifepath products utilize a proprietary active asset allocation overlay model that seeks to balance risk and return over an investment horizon based on the investor 2019s expected retirement timing . underlying investments are primarily index products . 2022 fiduciary management services are complex mandates in which pension plan sponsors or endowments and foundations retain blackrock to assume responsibility for some or all aspects of investment 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. .
| string | null | balance_2017 = 199466
balance_2016 = 149432
difference = balance_2017 - balance_2016
percent_difference = difference / balance_2016
answer = percent_difference * 100 |
in 2018 what was the percent of the long-term debt maturities as part of the total contractual obligations for future payments | 50.0999984741 | CodeFinQA | 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 , 2015 , the company held long-term credit ratings of bbb ( stable outlook ) and baa2 ( 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 , 2015 , were as follows: .
| In millions | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter |
| :--- | :--- | :--- | :--- | :--- | :--- | :--- |
| Maturities of long-term debt (a) | $426 | $43 | $811 | $427 | $183 | $7,436 |
| Lease obligations | 118 | 95 | 72 | 55 | 41 | 128 |
| Purchase obligations (b) | 3,001 | 541 | 447 | 371 | 358 | 1,579 |
| Total (c) | $3,545 | $679 | $1,330 | $853 | $582 | $9,143 |
( a ) total debt includes scheduled principal payments only . ( b ) includes $ 2.1 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 . ( c ) 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 $ 101 million . we consider the undistributed earnings of our foreign subsidiaries as of december 31 , 2015 , to be indefinitely reinvested and , accordingly , no u.s . income taxes have been provided thereon . as of december 31 , 2015 , the amount of cash associated with indefinitely reinvested foreign earnings was approximately $ 600 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 , 2015 , the projected benefit obligation for the company 2019s u.s . defined benefit plans determined under u.s . gaap was approximately $ 3.5 billion higher than the fair value of plan assets . approximately $ 3.2 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 contributions depend on the funding method selected by the company , and the timing of its implementation , as well as on actual demographic data and the targeted funding level . the company continually reassesses the amount and timing of any discretionary contributions and elected to make contributions totaling $ 750 million and $ 353 million for the years ended december 31 , 2015 and 2014 , respectively . at this time , we do not expect to have any required contributions to our plans in 2016 , although the company may elect to make future voluntary contributions . the timing and amount of future contributions , which could be material , will depend on a number of factors , including the actual earnings and changes in values of plan assets and changes in interest rates . international paper has announced a voluntary , limited-time opportunity for former employees who are participants in the retirement plan of international paper company ( the pension plan ) to request early payment of their entire pension plan benefit in the form of a single lump sum payment . eligible participants who wish to receive the lump sum payment must make an election between february 29 and april 29 , 2016 , and payment is scheduled to be made on or before june 30 , 2016 . all payments will be made from the pension plan trust assets . the target population has a total liability of $ 3.0 billion . the amount of the total payments will depend on the participation rate of eligible participants , but is expected to be approximately $ 1.5 billion . based on the expected level of payments , settlement accounting rules will apply in the period in which the payments are made . this will result in a plan remeasurement and the recognition in earnings of a pro-rata portion of unamortized net actuarial loss . ilim holding s.a . shareholder 2019s agreement in october 2007 , in connection with the formation of the ilim holding s.a . joint venture , international paper entered into a shareholder 2019s agreement that includes provisions relating to the reconciliation of disputes among the partners . this agreement was amended on may 7 , 2014 . pursuant to the amended agreement , beginning on january 1 , 2017 , either the company or its partners may commence certain procedures specified under the deadlock provisions . if these or any other deadlock provisions are commenced , the company may in certain situations , choose to purchase its partners 2019 50% ( 50 % ) interest in ilim . any such transaction would be subject to review and approval by russian and other relevant antitrust authorities . any such purchase by international paper would result in the consolidation of ilim 2019s financial position and results of operations in all subsequent periods. .
| string | null | long_term_debt_maturities_2018 = 427
long_term_debt_maturities_total = 853
percent_2018 = long_term_debt_maturities_2018 / long_term_debt_maturities_total
answer = percent_2018 * 100 |
what percentage has renting lease expenses increased from 2017 to 2019? | 57 | CodeFinQA | 9 . lease commitments the company leases certain land , facilities , equipment and software under various operating leases that expire at various dates through 2057 . the lease agreements frequently include renewal and escalation clauses and require the company to pay taxes , insurance and maintenance costs . total rental expense under operating leases was approximatelya $ 92.3 million in fiscal 2019 , $ 84.9 million in fiscal 2018 and $ 58.8 million in fiscal 2017 . the following is a schedule of futureff minimum rental payments required under long-term operating leases at november 2 , 2019 : operating fiscal years leases .
| Fiscal Years | Operating Leases |
| :--- | :--- |
| 2020 | $79,789 |
| 2021 | 67,993 |
| 2022 | 40,338 |
| 2023 | 37,673 |
| 2024 | 32,757 |
| Later Years | 190,171 |
| Total | $448,721 |
10 . commitments and contingencies from time to time , in the ordinary course of the company 2019s business , various claims , charges and litigation are asserted or commenced against the company arising from , or related to , among other things , contractual matters , patents , trademarks , personal injury , environmental matters , product liability , insurance coverage , employment or employment benefits . as to such claims and litigation , the company can give no assurance that it will prevail . the company does not believe that any current legal matters will have a material adverse effect on the company 2019s financial position , results of operations or cash flows . 11 . retirement plans the company and its subsidiaries have various savings and retirement plans covering substantially all employees . defined contribution plans the company maintains a defined contribution plan for the benefit of its eligible u.s . employees . this plan provides for company contributions of up to 5% ( 5 % ) of each participant 2019s total eligible compensation . in addition , the company contributes an amount equal to each participant 2019s pre-tax contribution , if any , up to a maximum of 3% ( 3 % ) of each participant 2019s total eligible compensation . the total expense related to the defined contribution plans for u.s . employees was $ 47.7 million in fiscal 2019 , $ 41.4 million in fiscal 2018 and $ 35.8 million in fiscal 2017 . non-qualified deferred compensation plan the deferred compensation plan ( dcp ) allows certain members of management and other highly-compensated employees and non-employee directors to defer receipt of all or any portion of their compensation . the dcp was established to provide participants with the opportunity to defer receiving all or a portion of their compensation , which includes salary , bonus , commissions and director fees . under the dcp , the company provides all participants ( other than non-employee directors ) with company contributions equal to 8% ( 8 % ) of eligible deferred contributions . the dcp is a non-qualified plan that is maintained in a rabbi trust . the fair value of the investments held in the rabbi trust are presented separately as deferred compensation plan investments , with the current portion of the investment included in prepaid expenses and other current assets in the consolidated balance sheets . see note 2j , fair value , for further information on these investments . the deferred compensation obligation represents dcp participant accumulated deferrals and earnings thereon since the inception of the dcp net of withdrawals . the deferred compensation obligation is presented separately as deferred compensation plan liability , with the current portion of the obligation in accrued liabilities in the consolidated balance sheets . the company 2019s liability under the dcp is an unsecured general obligation of the company . analog devices , inc . notes to consolidated financial statements 2014 ( continued ) .
| string | null | rent_2019 = 92.3
rent_2018 = 84.9
rent_2017 = 58.8
rent_increase = rent_2019 - rent_2017
rent_decrease = rent_increase / rent_2017
answer = rent_decrease * 100 |
what is the estimated growth rate in net periodic pension cost from 2012 to 2013? | 24.7000007629 | CodeFinQA | the following table presents the net periodic pension and opeb cost/ ( benefit ) for the years ended december 31 : millions 2013 2012 2011 2010 .
| <i>Millions</i> | <i>Est.2013</i> | <i>2012</i> | <i>2011</i> | <i>2010</i> |
| :--- | :--- | :--- | :--- | :--- |
| Net periodic pension cost | $111 | $89 | $78 | $51 |
| Net periodic OPEB cost/(benefit) | 15 | 13 | (6) | (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 .
| string | null | pension_2013 = 111
pension_2012 = 89
growth_rate = (pension_2013 - pension_2012) / pension_2012
answer = growth_rate * 100 |
what is the percentage change in expenses related to personal pension plan from 2008 to 2009? | 18.7999992371 | CodeFinQA | 1 2 4 n o t e s effective january 1 , 2011 , all u.s . employees , including u.s . legacy bgi employees , will participate in the brsp . all plan assets in the two legacy bgi plans , including the 401k plan and retirement plan ( see below ) , were merged into the brsp on january 1 , 2011 . under the combined brsp , employee contributions of up to 8% ( 8 % ) of eligible compensation , as defined by the plan and subject to irc limitations , will be matched by the company at 50% ( 50 % ) . in addition , the company will continue to make an annual retirement contribution to eligible participants equal to 3-5% ( 3-5 % ) of eligible compensation . blackrock institutional trust company 401 ( k ) savings plan ( formerly the bgi 401 ( k ) savings plan ) the company assumed a 401 ( k ) plan ( the 201cbgi plan 201d ) covering employees of former bgi as a result of the bgi transaction . as part of the bgi plan , employee contributions for participants with at least one year of service were matched at 200% ( 200 % ) of participants 2019 pre-tax contributions up to 2% ( 2 % ) of base salary and overtime , and matched 100% ( 100 % ) of the next 2% ( 2 % ) of base salary and overtime , as defined by the plan and subject to irc limitations . the maximum matching contribution a participant would have received is an amount equal to 6% ( 6 % ) of base salary up to the irc limitations . the bgi plan expense was $ 12 million for the year ended december 31 , 2010 and immaterial to the company 2019s consolidated financial statements for the year ended december 31 , 2009 . effective january 1 , 2011 , the net assets of this plan merged into the brsp . blackrock institutional trust company retirement plan ( formerly the bgi retirement plan ) the company assumed a defined contribution money purchase pension plan ( 201cbgi retirement plan 201d ) as a result of the bgi transaction . all salaried employees of former bgi and its participating affiliates who were u.s . residents on the u.s . payroll were eligible to participate . for participants earning less than $ 100000 in base salary , the company contributed 6% ( 6 % ) of a participant 2019s total compensation ( base salary , overtime and performance bonus ) up to $ 100000 . for participants earning $ 100000 or more in base salary , the company contributed 6% ( 6 % ) of a participant 2019s base salary and overtime up to the irc limita- tion of $ 245000 in 2010 . these contributions were 25% ( 25 % ) vested once the participant has completed two years of service and then vested at a rate of 25% ( 25 % ) for each additional year of service completed . employees with five or more years of service under the retirement plan were 100% ( 100 % ) vested in their entire balance . the retirement plan expense was $ 13 million for the year ended december 31 , 2010 and immaterial to the company 2019s consolidated financial statements for the year ended december 31 , 2009 . effective january 1 , 2011 , the net assets of this plan merged into the brsp . blackrock group personal pension plan blackrock investment management ( uk ) limited ( 201cbim 201d ) , a wholly-owned subsidiary of the company , contributes to the blackrock group personal pension plan , a defined contribution plan for all employees of bim . bim contributes between 6% ( 6 % ) and 15% ( 15 % ) of each employee 2019s eligible compensation . the expense for this plan was $ 22 million , $ 13 million and $ 16 million for the years ended december 31 , 2010 , 2009 and 2008 , respectively . defined benefit plans in 2009 , prior to the bgi transaction , the company had several defined benefit pension plans in japan , germany , luxembourg and jersey . all accrued benefits under these defined benefit plans are currently frozen and the plans are closed to new participants . in 2008 , the defined benefit pension values in luxembourg were transferred into a new defined contribution plan for such employees , removing future liabilities . participant benefits under the plans will not change with salary increases or additional years of service . through the bgi transaction , the company assumed defined benefit pension plans in japan and germany which are closed to new participants . during 2010 , these plans merged into the legacy blackrock plans in japan ( the 201cjapan plan 201d ) and germany . at december 31 , 2010 and 2009 , the plan assets for these plans were approximately $ 19 million and $ 10 million , respectively , and the unfunded obligations were less than $ 6 million and $ 3 million , respectively , which were recorded in accrued compensation and benefits on the consolidated statements of financial condition . benefit payments for the next five years and in aggregate for the five years thereafter are not expected to be material . defined benefit plan assets for the japan plan of approximately $ 16 million are invested using a total return investment approach whereby a mix of equity securities , debt securities and other investments are used to preserve asset values , diversify risk and achieve the target investment return benchmark . investment strategies and asset allocations are based on consideration of plan liabilities and the funded status of the plan . investment performance and asset allocation are measured and monitored on an ongoing basis . the current target allocations for the plan assets are 45-50% ( 45-50 % ) for u.s . and international equity securities , 50-55% ( 50-55 % ) for u.s . and international fixed income securities and 0-5% ( 0-5 % ) for cash and cash equivalents . the table below provides the fair value of the defined benefit japan plan assets at december 31 , 2010 by asset category . the table also identifies the level of inputs used to determine the fair value of assets in each category . quoted prices significant in active other markets for observable identical assets inputs december 31 , ( dollar amounts in millions ) ( level 1 ) ( level 2 ) 2010 .
| <i>(Dollar amounts in millions)</i> | Quoted Prices inActive Marketsfor Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | December 31, 2010 |
| :--- | :--- | :--- | :--- |
| Cash and cash equivalents | $9 | $— | $9 |
| Equity securities | 4 | — | 4 |
| Fixed income securities | — | 3 | 3 |
| Fair value of plan assets | $13 | $3 | $16 |
the assets and unfunded obligation for the defined benefit pension plan in germany and jersey were immaterial to the company 2019s consolidated financial statements at december 31 , 2010 . post-retirement benefit plans prior to the bgi transaction , the company had requirements to deliver post-retirement medical benefits to a closed population based in the united kingdom and through the bgi transaction , the company assumed a post-retirement benefit plan to a closed population of former bgi employees in the united kingdom . for the years ended december 31 , 2010 , 2009 and 2008 , expenses and unfunded obligations for these benefits were immaterial to the company 2019s consolidated financial statements . in addition , through the bgi transaction , the company assumed a requirement to deliver post-retirement medical benefits to a .
| string | null | personal_pension_plan_expense = 13
personal_pension_plan_expense_2008 = 16
change = personal_pension_plan_expense - personal_pension_plan_expense_2008
percent_change = change / personal_pension_plan_expense_2008
answer = percent_change * 100 |
what was the approximate sum of the addition to our intangibles in 2004 in millions | 551 | CodeFinQA | management 2019s discussion and analysis of financial condition and results of operations comcast corporation and subsidiaries28 comcast corporation and subsidiaries the exchangeable notes varies based upon the fair market value of the security to which it is indexed . the exchangeable notes are collateralized by our investments in cablevision , microsoft and vodafone , respectively . the comcast exchangeable notes are collateralized by our class a special common stock held in treasury . we have settled and intend in the future to settle all of the comcast exchangeable notes using cash . during 2004 and 2003 , we settled an aggregate of $ 847 million face amount and $ 638 million face amount , respectively , of our obligations relating to our notes exchangeable into comcast stock by delivering cash to the counterparty upon maturity of the instruments , and the equity collar agreements related to the underlying shares expired or were settled . during 2004 and 2003 , we settled $ 2.359 billion face amount and $ 1.213 billion face amount , respectively , of our obligations relating to our exchangeable notes by delivering the underlying shares of common stock to the counterparty upon maturity of the investments . as of december 31 , 2004 , our debt includes an aggregate of $ 1.699 billion of exchangeable notes , including $ 1.645 billion within current portion of long-term debt . as of december 31 , 2004 , the securities we hold collateralizing the exchangeable notes were sufficient to substantially satisfy the debt obligations associated with the outstanding exchangeable notes . stock repurchases . during 2004 , under our board-authorized , $ 2 billion share repurchase program , we repurchased 46.9 million shares of our class a special common stock for $ 1.328 billion . we expect such repurchases to continue from time to time in the open market or in private transactions , subject to market conditions . refer to notes 8 and 10 to our consolidated financial statements for a discussion of our financing activities . investing activities net cash used in investing activities from continuing operations was $ 4.512 billion for the year ended december 31 , 2004 , and consists primarily of capital expenditures of $ 3.660 billion , additions to intangible and other noncurrent assets of $ 628 million and the acquisition of techtv for approximately $ 300 million . capital expenditures . our most significant recurring investing activity has been and is expected to continue to be capital expendi- tures . the following table illustrates the capital expenditures we incurred in our cable segment during 2004 and expect to incur in 2005 ( dollars in millions ) : .
| | 2004 | 2005 |
| :--- | :--- | :--- |
| Deployment of cable modems, digital converters, and new service offerings | $2,106 | $2,300 |
| Upgrading of cable systems | 902 | 200 |
| Recurring capital projects | 614 | 500 |
| Total cable segment capital expenditures | $3,622 | $3,000 |
the amount of our capital expenditures for 2005 and for subsequent years will depend on numerous factors , some of which are beyond our control , including competition , changes in technology and the timing and rate of deployment of new services . additions to intangibles . additions to intangibles during 2004 primarily relate to our investment in a $ 250 million long-term strategic license agreement with gemstar , multiple dwelling unit contracts of approximately $ 133 million and other licenses and software intangibles of approximately $ 168 million . investments . proceeds from sales , settlements and restructurings of investments totaled $ 228 million during 2004 , related to the sales of our non-strategic investments , including our 20% ( 20 % ) interest in dhc ventures , llc ( discovery health channel ) for approximately $ 149 million . we consider investments that we determine to be non-strategic , highly-valued , or both to be a source of liquidity . we consider our investment in $ 1.5 billion in time warner common-equivalent preferred stock to be an anticipated source of liquidity . we do not have any significant contractual funding commitments with respect to any of our investments . refer to notes 6 and 7 to our consolidated financial statements for a discussion of our investments and our intangible assets , respectively . off-balance sheet arrangements we do not have any significant 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. .
| string | null | additions_to_intangibles = 250 + 133 + 168
total_additions_to_intangibles = additions_to_intangibles
answer = total_additions_to_intangibles |
what was the total expense related to contribution plans from 2008 to 2010 | 101.0999984741 | CodeFinQA | the following is a schedule of future minimum rental payments required under long-term operating leases at october 30 , 2010 : fiscal years operating leases .
| Fiscal Years | Operating Leases |
| :--- | :--- |
| 2011 | $21,871 |
| 2012 | 12,322 |
| 2013 | 9,078 |
| 2014 | 6,381 |
| 2015 | 5,422 |
| Later Years | 30,655 |
| Total | $85,729 |
12 . commitments and contingencies from time to time in the ordinary course of the company 2019s business , various claims , charges and litigation are asserted or commenced against the company arising from , or related to , contractual matters , patents , trademarks , personal injury , environmental matters , product liability , insurance coverage and personnel and employment disputes . as to such claims and litigation , the company can give no assurance that it will prevail . the company does not believe that any current legal matters will have a material adverse effect on the company 2019s financial position , results of operations or cash flows . 13 . retirement plans the company and its subsidiaries have various savings and retirement plans covering substantially all employees . the company maintains a defined contribution plan for the benefit of its eligible u.s . employees . this plan provides for company contributions of up to 5% ( 5 % ) of each participant 2019s total eligible compensation . in addition , the company contributes an amount equal to each participant 2019s pre-tax contribution , if any , up to a maximum of 3% ( 3 % ) of each participant 2019s total eligible compensation . the total expense related to the defined contribution plan for u.s . employees was $ 20.5 million in fiscal 2010 , $ 21.5 million in fiscal 2009 and $ 22.6 million in fiscal 2008 . the company also has various defined benefit pension and other retirement plans for certain non-u.s . employees that are consistent with local statutory requirements and practices . the total expense related to the various defined benefit pension and other retirement plans for certain non-u.s . employees was $ 11.7 million in fiscal 2010 , $ 10.9 million in fiscal 2009 and $ 13.9 million in fiscal 2008 . during fiscal 2009 , the measurement date of the plan 2019s funded status was changed from september 30 to the company 2019s fiscal year end . non-u.s . plan disclosures the company 2019s funding policy for its foreign defined benefit pension plans is consistent with the local requirements of each country . the plans 2019 assets consist primarily of u.s . and non-u.s . equity securities , bonds , property and cash . the benefit obligations and related assets under these plans have been measured at october 30 , 2010 and october 31 , 2009 . analog devices , inc . notes to consolidated financial statements 2014 ( continued ) .
| string | null | defined_contribution_plan = 20.5 + 11.7
defined_benefit_pension = 21.5 + 10.9
other_retirement_plans = 22.6 + 13.9
total_expense = defined_contribution_plan + defined_benefit_pension + other_retirement_plans
answer = total_expense |
what was the cumulative rent expense from 2011 to 2013 | 651 | CodeFinQA | at december 31 , 2013 , total future minimum commitments under existing non-cancelable operating leases and purchase obligations were as follows: .
| In millions | 2014 | 2015 | 2016 | 2017 | 2018 | Thereafter |
| :--- | :--- | :--- | :--- | :--- | :--- | :--- |
| Lease obligations | $171 | $133 | $97 | $74 | $59 | $162 |
| Purchase obligations (a) | 3,170 | 770 | 642 | 529 | 453 | 2,404 |
| Total | $3,341 | $903 | $739 | $603 | $512 | $2,566 |
( a ) includes $ 3.3 billion relating to fiber supply agreements entered into at the time of the company 2019s 2006 transformation plan forestland sales and in conjunction with the 2008 acquisition of weyerhaeuser company 2019s containerboard , packaging and recycling business . rent expense was $ 215 million , $ 231 million and $ 205 million for 2013 , 2012 and 2011 , respectively . guarantees in connection with sales of businesses , property , equipment , forestlands and other assets , international paper commonly makes representations and warranties relating to such businesses or assets , and may agree to indemnify buyers with respect to tax and environmental liabilities , breaches of representations and warranties , and other matters . where liabilities for such matters are determined to be probable and subject to reasonable estimation , accrued liabilities are recorded at the time of sale as a cost of the transaction . environmental proceedings international paper has been named as a potentially responsible party in environmental remediation actions under various federal and state laws , including the comprehensive environmental response , compensation and liability act ( cercla ) . many of these proceedings involve the cleanup of hazardous substances at large commercial landfills that received waste from many different sources . while joint and several liability is authorized under cercla and equivalent state laws , as a practical matter , liability for cercla cleanups is typically allocated among the many potential responsible parties . remedial costs are recorded in the consolidated financial statements when they become probable and reasonably estimable . international paper has estimated the probable liability associated with these matters to be approximately $ 94 million in the aggregate at december 31 , 2013 . cass lake : one of the matters referenced above is a closed wood treating facility located in cass lake , minnesota . during 2009 , in connection with an environmental site remediation action under cercla , international paper submitted to the epa a site remediation feasibility study . in june 2011 , the epa selected and published a proposed soil remedy at the site with an estimated cost of $ 46 million . the overall remediation reserve for the site is currently $ 51 million to address this selection of an alternative for the soil remediation component of the overall site remedy . in october 2011 , the epa released a public statement indicating that the final soil remedy decision would be delayed . in the unlikely event that the epa changes its proposed soil remedy and approves instead a more expensive clean-up alternative , the remediation costs could be material , and significantly higher than amounts currently recorded . in october 2012 , the natural resource trustees for this site provided notice to international paper and other potentially responsible parties of their intent to perform a natural resource damage assessment . it is premature to predict the outcome of the assessment or to estimate a loss or range of loss , if any , which may be incurred . other : in addition to the above matters , other remediation costs typically associated with the cleanup of hazardous substances at the company 2019s current , closed or formerly-owned facilities , and recorded as liabilities in the balance sheet , totaled approximately $ 42 million at december 31 , 2013 . other than as described above , completion of required remedial actions is not expected to have a material effect on our consolidated financial statements . kalamazoo river : the company is a potentially responsible party with respect to the allied paper , inc./ portage creek/kalamazoo river superfund site ( kalamazoo river superfund site ) in michigan . the epa asserts that the site is contaminated primarily by pcbs as a result of discharges from various paper mills located along the kalamazoo river , including a paper mill formerly owned by st . regis paper company ( st . regis ) . the company is a successor in interest to st . regis . the company has not received any orders from the epa with respect to the site and continues to collect information from the epa and other parties relative to the site to evaluate the extent of its liability , if any , with respect to the site . accordingly , it is premature to estimate a loss or range of loss with respect to this site . also in connection with the kalamazoo river superfund site , the company was named as a defendant by georgia-pacific consumer products lp , fort james corporation and georgia pacific llc in a contribution and cost recovery action for alleged pollution at the site . the suit seeks contribution under cercla for $ 79 million in costs purportedly expended by plaintiffs as of the filing of the complaint and for future remediation costs . the suit alleges that a mill , during the time it was allegedly owned and operated by st . regis , discharged pcb contaminated solids and paper residuals resulting from paper de-inking and recycling . also named as defendants in the suit are ncr corporation and weyerhaeuser company . in mid-2011 , the suit was transferred from the district court for the eastern district of wisconsin to the district court for the western .
| string | null | cumulative_rent_expense = 215 + 231
rent_expense_2011 = 205
cumulative_rent_expense += rent_expense_2011
answer = cumulative_rent_expense |
what was the increase in net sales in billions in 2013 | 1.7760000229 | CodeFinQA | areas exceeding 14.1 million acres ( 5.7 million hectares ) . products and brand designations appearing in italics are trademarks of international paper or a related company . industry segment results industrial packaging demand for industrial packaging products is closely correlated with non-durable industrial goods production , as well as with demand for processed foods , poultry , meat and agricultural products . in addition to prices and volumes , major factors affecting the profitability of industrial packaging are raw material and energy costs , freight costs , manufacturing efficiency and product mix . industrial packaging net sales and operating profits include the results of the temple-inland packaging operations from the date of acquisition in february 2012 and the results of the brazil packaging business from the date of acquisition in january 2013 . in addition , due to the acquisition of a majority share of olmuksa international paper sabanci ambalaj sanayi ve ticaret a.s. , ( now called olmuksan international paper or olmuksan ) net sales for our corrugated packaging business in turkey are included in the business segment totals beginning in the first quarter of 2013 and the operating profits reflect a higher ownership percentage than in previous years . net sales for 2013 increased 12% ( 12 % ) to $ 14.8 billion compared with $ 13.3 billion in 2012 , and 42% ( 42 % ) compared with $ 10.4 billion in 2011 . operating profits were 69% ( 69 % ) higher in 2013 than in 2012 and 57% ( 57 % ) higher than in 2011 . excluding costs associated with the acquisition and integration of temple-inland , the divestiture of three containerboard mills and other special items , operating profits in 2013 were 36% ( 36 % ) higher than in 2012 and 59% ( 59 % ) higher than in 2011 . benefits from the net impact of higher average sales price realizations and an unfavorable mix ( $ 749 million ) were offset by lower sales volumes ( $ 73 million ) , higher operating costs ( $ 64 million ) , higher maintenance outage costs ( $ 16 million ) and higher input costs ( $ 102 million ) . additionally , operating profits in 2013 include costs of $ 62 million associated with the integration of temple-inland , a gain of $ 13 million related to a bargain purchase adjustment on the acquisition of a majority share of our operations in turkey , and a net gain of $ 1 million for other items , while operating profits in 2012 included costs of $ 184 million associated with the acquisition and integration of temple-inland , mill divestiture costs of $ 91 million , costs associated with the restructuring of our european packaging business of $ 17 million and a $ 3 million gain for other items . industrial packaging .
| In millions | 2013 | 2012 | 2011 |
| :--- | :--- | :--- | :--- |
| Sales | $14,810 | $13,280 | $10,430 |
| Operating Profit | 1,801 | 1,066 | 1,147 |
north american industrial packaging net sales were $ 12.5 billion in 2013 compared with $ 11.6 billion in 2012 and $ 8.6 billion in 2011 . operating profits in 2013 were $ 1.8 billion ( both including and excluding costs associated with the integration of temple-inland and other special items ) compared with $ 1.0 billion ( $ 1.3 billion excluding costs associated with the acquisition and integration of temple-inland and mill divestiture costs ) in 2012 and $ 1.1 billion ( both including and excluding costs associated with signing an agreement to acquire temple-inland ) in 2011 . sales volumes decreased in 2013 compared with 2012 reflecting flat demand for boxes and the impact of commercial decisions . average sales price realizations were significantly higher mainly due to the realization of price increases for domestic containerboard and boxes . input costs were higher for wood , energy and recycled fiber . freight costs also increased . planned maintenance downtime costs were higher than in 2012 . manufacturing operating costs decreased , but were offset by inflation and higher overhead and distribution costs . the business took about 850000 tons of total downtime in 2013 of which about 450000 were market- related and 400000 were maintenance downtime . in 2012 , the business took about 945000 tons of total downtime of which about 580000 were market-related and about 365000 were maintenance downtime . operating profits in 2013 included $ 62 million of costs associated with the integration of temple-inland . operating profits in 2012 included $ 184 million of costs associated with the acquisition and integration of temple-inland and $ 91 million of costs associated with the divestiture of three containerboard mills . looking ahead to 2014 , compared with the fourth quarter of 2013 , sales volumes in the first quarter are expected to increase for boxes due to a higher number of shipping days offset by the impact from the severe winter weather events impacting much of the u.s . input costs are expected to be higher for energy , recycled fiber , wood and starch . planned maintenance downtime spending is expected to be about $ 51 million higher with outages scheduled at six mills compared with four mills in the 2013 fourth quarter . manufacturing operating costs are expected to be lower . however , operating profits will be negatively impacted by the adverse winter weather in the first quarter of 2014 . emea industrial packaging net sales in 2013 include the sales of our packaging operations in turkey which are now fully consolidated . net sales were $ 1.3 billion in 2013 compared with $ 1.0 billion in 2012 and $ 1.1 billion in 2011 . operating profits in 2013 were $ 43 million ( $ 32 .
| string | null | net_sales = 14.8
average_price = 0.12
increase = net_sales * average_price
answer = increase |
what is the growth rate in revenue related technology and risk management from 2015 to 2016? | 12.6999998093 | CodeFinQA | 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) | (28) |
| Acquisition | 13 | — |
| 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. .
| string | null | revenue_2016 = 595
revenue_2017 = 528
growth_rate = (revenue_2016 - revenue_2017) / revenue_2017
answer = growth_rate * 100 |
what is the percentage of customer relationships among the total intangible assets? | 16 | CodeFinQA | 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 | $9,076 |
| Prior investment in Virtio | 1,664 |
| Acquisition-related costs | 713 |
| Total purchase price | $11,453 |
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 ) .
| string | null | percent_customer_relationships = 0.4 / 2.5
answer = percent_customer_relationships * 100 |
what is the percentage increase in unrecognized tax benefits from jan 2008-dec 2008? | 56.6100006104 | CodeFinQA | the following is a reconciliation of the total amounts of unrecognized tax benefits for the year : ( in thousands ) .
| Unrecognized tax benefit—January 1, 2008 | $7,928 |
| :--- | :--- |
| Ansoft unrecognized tax benefit—acquired July 31, 2008 | 3,525 |
| Gross increases—tax positions in prior period | 2,454 |
| Gross decreases—tax positions in prior period | (1,572) |
| Gross increases—tax positions in current period | 2,255 |
| Reductions due to a lapse of the applicable statute of limitations | (1,598) |
| Changes due to currency fluctuation | (259) |
| Settlements | (317) |
| Unrecognized tax benefit—December 31, 2008 | $12,416 |
included in the balance of unrecognized tax benefits at december 31 , 2008 are $ 5.6 million of tax benefits that , if recognized , would affect the effective tax rate . also included in the balance of unrecognized tax benefits at december 31 , 2008 are $ 5.0 million of tax benefits that , if recognized , would result in a decrease to goodwill recorded in purchase business combinations , and $ 1.9 million of tax benefits that , if recognized , would result in adjustments to other tax accounts , primarily deferred taxes . the company believes it is reasonably possible that uncertain tax positions of approximately $ 2.6 million as of december 31 , 2008 will be resolved within the next twelve months . the company recognizes interest and penalties related to unrecognized tax benefits as income tax expense . related to the uncertain tax benefits noted above , the company recorded interest of $ 171000 during 2008 . penalties recorded during 2008 were insignificant . in total , as of december 31 , 2008 , the company has recognized a liability for penalties of $ 498000 and interest of $ 1.8 million . the company is subject to taxation in the u.s . and various states and foreign jurisdictions . the company 2019s 2005 through 2008 tax years are open to examination by the internal revenue service . the 2005 and 2006 federal returns are currently under examination . the company also has various foreign subsidiaries with tax filings under examination , as well as numerous foreign and state tax filings subject to examination for various years . 10 . pension and profit-sharing plans the company has 401 ( k ) /profit-sharing plans for all qualifying full-time domestic employees that permit participants to make contributions by salary reduction pursuant to section 401 ( k ) of the internal revenue code . the company makes matching contributions on behalf of each eligible participant in an amount equal to 100% ( 100 % ) of the first 3% ( 3 % ) and an additional 25% ( 25 % ) of the next 5% ( 5 % ) , for a maximum total of 4.25% ( 4.25 % ) of the employee 2019s compensation . the company may make a discretionary profit sharing contribution in the amount of 0% ( 0 % ) to 5% ( 5 % ) based on the participant 2019s eligible compensation , provided the employee is employed at the end of the year and has worked at least 1000 hours . the qualifying domestic employees of the company 2019s ansoft subsidiary , acquired on july 31 , 2008 , also participate in a 401 ( k ) plan . there is no matching employer contribution associated with this plan . the company also maintains various defined contribution pension arrangements for its international employees . expenses related to the company 2019s retirement programs were $ 3.7 million in 2008 , $ 4.7 million in 2007 and $ 4.1 million in 2006 . 11 . non-compete and employment agreements employees of the company have signed agreements under which they have agreed not to disclose trade secrets or confidential information and , where legally permitted , that restrict engagement in or connection with any business that is competitive with the company anywhere in the world while employed by the company ( and .
| string | null | unrecognized_tax_benefit = 12416 - 7928
unrecognized_tax_benefit_percent = unrecognized_tax_benefit / 7928
answer = unrecognized_tax_benefit_percent * 100 |
if physical contracts ( short ) and futures ( short ) combined equal futures ( long ) , then what percentage of futures long are future shorts? | 25.1000003815 | CodeFinQA | table of contents valero energy corporation and subsidiaries notes to consolidated financial statements ( continued ) cash flow hedges cash flow hedges are used to hedge price volatility in certain forecasted feedstock and refined product purchases , refined product sales , and natural gas purchases . the objective of our cash flow hedges is to lock in the price of forecasted feedstock , product or natural gas purchases , or refined product sales at existing market prices that we deem favorable . as of december 31 , 2012 , we had the following outstanding commodity derivative instruments that were entered into to hedge forecasted purchases or sales of crude oil and refined products . the information presents the notional volume of outstanding contracts by type of instrument and year of maturity ( volumes in thousands of barrels ) . notional contract volumes by year of maturity derivative instrument 2013 .
| Derivative Instrument | NotionalContractVolumes byYear ofMaturity 2013 |
| :--- | :--- |
| Crude oil and refined products: | |
| Swaps – long | 1,300 |
| Swaps – short | 1,300 |
| Futures – long | 11,894 |
| Futures – short | 2,981 |
| Physical contracts – short | 8,913 |
.
| string | null | futures_long = 11894
futures_short = 2981
percent_futures_long = futures_short / futures_long
answer = percent_futures_long * 100 |
what is the difference in market value of marketable securities between 2002 and 2003? | 15803000 | CodeFinQA | ( i ) intellectual property the company capitalizes as intellectual property costs incurred , excluding costs associated with company personnel , relating to patenting its technology . capitalized costs , the majority of which represent legal costs , reflect the cost of both awarded patents and patents pending . the company amortizes the cost of these patents on a straight-line basis over a period of seven years . if the company elects to stop pursuing a particular patent application or determines that a patent application is not likely to be awarded for a particular patent or elects to discontinue payment of required maintenance fees for a particular patent , the company at that time records as expense the net capitalized amount of such patent application or patent . the company does not capitalize maintenance fees for patents . ( j ) net loss per share basic net loss per share is computed by dividing net loss by the weighted-average number of common shares outstanding during the fiscal year . diluted net loss per share is computed by dividing net loss by the weighted-average number of dilutive common shares outstanding during the fiscal year . diluted weighted-average shares reflect the dilutive effect , if any , of potential common stock such as options and warrants based on the treasury stock method . no potential common stock is considered dilutive in periods in which a loss is reported , such as the fiscal years ended march 31 , 2001 , 2002 and 2003 , because all such common equivalent shares would be antidilutive . the calculation of diluted weighted-average shares outstanding for the years ended march 31 , 2001 , 2002 and 2003 excludes the options to purchase common stock as shown below . potential dilutive shares year ended march 31 , from exercise of common stock options .
| Year Ended March 31, | Potential Dilutive Shares from Exercise of Common Stock Options |
| :--- | :--- |
| 2001 | 1,808,322 |
| 2002 | 1,420,831 |
| 2003 | 58,343 |
the calculation of diluted weighted-average shares outstanding excludes unissued shares of common stock associated with outstanding stock options that have exercise prices greater than the average market price of abiomed common stock during the period . for the fiscal years ending march 31 , 2001 , 2002 and 2003 , the weighted-average number of these potential shares totaled 61661 , 341495 and 2463715 shares , respectively . the calculation of diluted weighted-average shares outstanding for the years ended march 31 , 2001 , 2002 and 2003 also excludes warrants to purchase 400000 shares of common stock issued in connection with the acquisition of intellectual property ( see note 4 ) . ( k ) cash and cash equivalents the company classifies any marketable security with a maturity date of 90 days or less at the time of purchase as a cash equivalent . ( l ) marketable securities the company classifies any security with a maturity date of greater than 90 days at the time of purchase as marketable securities and classifies marketable securities with a maturity date of greater than one year from the balance sheet date as long-term investments . under statement of financial accounting standards ( sfas ) no . 115 , accounting for certain investments in debt and equity securities , securities that the company has the positive intent and ability to hold to maturity are reported at amortized cost and classified as held-to-maturity securities . the amortized cost and market value of marketable securities were approximately $ 25654000 and $ 25661000 at march 31 , 2002 , and $ 9877000 and $ 9858000 at march 31 , 2003 , respectively . at march 31 , 2003 , these short-term investments consisted primarily of government securities . ( m ) disclosures about fair value of financial instruments as of march 31 , 2002 and 2003 , the company 2019s financial instruments were comprised of cash and cash equivalents , marketable securities , accounts receivable and accounts payable , the carrying amounts of which approximated fair market value . ( n ) comprehensive income sfas no . 130 , reporting comprehensive income , requires disclosure of all components of comprehensive income and loss on an annual and interim basis . comprehensive income and loss is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources . other than the reported net loss , there were no components of comprehensive income or loss which require disclosure for the years ended march 31 , 2001 , 2002 and 2003 . notes to consolidated financial statements ( continued ) march 31 , 2003 page 20 .
| string | null | market_value_2002 = 25661000
market_value_2003 = 9858000
answer = market_value_2003 - market_value_2002 |
what was the ratio of the fair value of the preliminary debt analysis of the acquisition date fair value of the borrowings for 2014 to 2013 | 0.8700000048 | CodeFinQA | the use of the two wholly-owned special purpose entities discussed below preserved the tax deferral that resulted from the 2007 temple-inland timberlands sales . the company recognized an $ 840 million deferred tax liability in connection with the 2007 sales , which will be settled with the maturity of the notes in in october 2007 , temple-inland sold 1.55 million acres of timberlands for $ 2.38 billion . the total consideration 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 purpose entities in the accompanying consolidated balance sheet and are supported by $ 2.38 billion of irrevocable letters of credit issued by three banks , which are required to maintain minimum credit ratings on their long-term debt . in the third quarter of 2012 , international paper completed its preliminary analysis of the acquisition date fair value of the notes and determined it to be $ 2.09 billion . as of december 31 , 2014 and 2013 , the fair value of the notes was $ 2.27 billion and $ 2.62 billion , respectively . these notes are classified as level 2 within the fair value hierarchy , which is further defined in note 14 . in december 2007 , temple-inland's two wholly-owned special purpose entities borrowed $ 2.14 billion shown in nonrecourse financial liabilities of special purpose entities in the accompanying consolidated 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 downgraded below the specified threshold , the letters of credit issued by that bank must be replaced within 30 days with letters of credit from another qualifying financial institution . in the third quarter of 2012 , international paper completed its preliminary analysis of the acquisition date fair value of the borrowings and determined it to be $ 2.03 billion . as of december 31 , 2014 and 2013 , the fair value of this debt was $ 2.16 billion and $ 2.49 billion , respectively . this debt is classified as level 2 within the fair value hierarchy , which is further defined in note 14 . during 2012 , the credit ratings for two letter of credit banks that support $ 1.0 billion of the 2007 monetized notes were downgraded below the specified threshold . these letters of credit were successfully replaced by other qualifying institutions . fees of $ 8 million were incurred in connection with these replacements . activity between the company and the 2007 financing entities was as follows: .
| In millions | 2014 | 2013 | 2012 |
| :--- | :--- | :--- | :--- |
| Revenue (loss) (a) | $26 | $27 | $28 |
| Expense (b) | 25 | 29 | 28 |
| Cash receipts (c) | 7 | 8 | 12 |
| Cash payments (d) | 18 | 21 | 22 |
( a ) the revenue is included in interest expense , net in the accompanying consolidated statement of operations and includes approximately $ 19 million , $ 19 million and $ 17 million for the years ended december 31 , 2014 , 2013 and 2012 , respectively , of accretion income for the amortization of the purchase accounting adjustment of the financial assets of special purpose entities . ( b ) the expense is included in interest expense , net in the accompanying consolidated statement of operations and includes $ 7 million , $ 7 million and $ 6 million for the years ended december 31 , 2014 , 2013 and 2012 , respectively , of accretion expense for the amortization of the purchase accounting adjustment on the nonrecourse financial liabilities of special purpose entities . ( c ) the cash receipts are interest received on the financial assets of special purpose entities . ( d ) the cash payments are interest paid on nonrecourse financial liabilities of special purpose entities . preferred securities of subsidiaries in march 2003 , southeast timber , inc . ( southeast timber ) , a consolidated subsidiary of international paper , issued $ 150 million of preferred securities to a private investor with future dividend payments based on libor . southeast timber , which through a subsidiary initially held approximately 1.50 million acres of forestlands in the southern united states , was international paper 2019s primary vehicle for sales of southern forestlands . as of december 31 , 2014 , substantially all of these forestlands have been sold . on march 27 , 2013 , southeast timber redeemed its class a common shares owned by the private investor for $ 150 million . distributions paid to the third-party investor were $ 1 million and $ 6 million in 2013 and 2012 , respectively . the expense related to these preferred securities is shown in net earnings ( loss ) attributable to noncontrolling interests in the accompanying consolidated statement of operations . note 13 debt and lines of credit during the second quarter of 2014 , international paper issued $ 800 million of 3.65% ( 3.65 % ) senior unsecured notes with a maturity date in 2024 and $ 800 million of 4.80% ( 4.80 % ) senior unsecured notes with a maturity date in 2044 . the proceeds from this borrowing were used to repay approximately $ 960 million of notes with interest rates ranging from 7.95% ( 7.95 % ) to 9.38% ( 9.38 % ) and original maturities from 2018 to 2019 . pre-tax early debt retirement costs of $ 262 million related to these debt repayments , including $ 258 million of cash premiums , are included in restructuring and other charges in the .
| string | null | fair_value_2014 = 2.16
fair_value_2013 = 2.49
ratio = fair_value_2014 / fair_value_2013
answer = ratio |
what was the change in net sales in 2015 in millions | 318 | CodeFinQA | augusta , georgia mill and $ 2 million of costs associated with the sale of the shorewood business . consumer packaging .
| In millions | 2015 | 2014 | 2013 |
| :--- | :--- | :--- | :--- |
| Sales | $2,940 | $3,403 | $3,435 |
| Operating Profit (Loss) | (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 .
| string | null | net_sales_2015 = 682
net_sales_2014 = 1000
net_sales_2013 = 1100
sales_change = net_sales_2015 - net_sales_2014
answer = sales_change |
what was the ratio of the investment prior to sale to the pre-tax gain on the sale | 1.4400000572 | CodeFinQA | notes to the audited consolidated financial statements 6 . equity investments eastman has a 50 percent interest in and serves as the operating partner in primester , a joint venture which manufactures cellulose acetate at eastman's kingsport , tennessee plant . this investment is accounted for under the equity method . eastman's net investment in the joint venture at december 31 , 2007 and 2006 was approximately $ 43 million and $ 47 million , respectively , which was comprised of the recognized portion of the venture's accumulated deficits , long-term amounts owed to primester , and a line of credit from eastman to primester . such amounts are included in other noncurrent assets . eastman owns a 50 percent interest in nanjing yangzi eastman chemical ltd . ( 201cnanjing 201d ) , a company which manufactures eastotactm hydrocarbon tackifying resins for the adhesives market . this joint venture is accounted for under the equity method and is included in other noncurrent assets . at december 31 , 2007 and 2006 , the company 2019s investment in nanjing was approximately $ 7 million and $ 5 million , respectively . in october 2007 , the company entered into an agreement with green rock energy , l.l.c . ( "green rock" ) , a company formed by the d . e . shaw group and goldman , sachs & co. , to jointly develop the industrial gasification facility in beaumont , texas through tx energy , llc ( "tx energy" ) . eastman owns a 50 percent interest in tx energy , which is expected to be operational in 2011 and will produce intermediate chemicals , such as hydrogen , methanol , and ammonia from petroleum coke . this joint venture in the development stage is accounted for under the equity method , and is included in other noncurrent assets . at december 31 , 2007 , the company 2019s investment in tx energy was approximately $ 26 million . eastman also plans to participate in a project sponsored by faustina hydrogen products , l.l.c . which will use petroleum coke as the primary feedstock to make anhydrous ammonia and methanol . faustina hydrogen products is primarily owned by green rock . the company intends to take a 25 percent or greater equity position in the project , provide operations , maintenance , and other site management services , and purchase methanol under a long-term contract . capital costs for the facility are estimated to be approximately $ 1.6 billion . project financing is expected to be obtained by the end of 2008 . the facility will be built in st . james parish , louisiana and is expected to be complete by 2011 . on april 21 , 2005 , the company completed the sale of its equity investment in genencor international , inc . ( "genencor" ) for cash proceeds of approximately $ 417 million , net of $ 2 million in fees . the book value of the investment prior to sale was $ 246 million , and the company recorded a pre-tax gain on the sale of $ 171 million . 7 . payables and other current liabilities december 31 , ( dollars in millions ) 2007 2006 .
| (Dollars in millions) | December 31, 2007 | 2006 |
| :--- | :--- | :--- |
| Trade creditors | $578 | $581 |
| Accrued payrolls, vacation, and variable-incentive compensation | 138 | 126 |
| Accrued taxes | 36 | 59 |
| Post-employment obligations | 60 | 63 |
| Interest payable | 31 | 31 |
| Bank overdrafts | 6 | 11 |
| Other | 164 | 185 |
| Total payables and other current liabilities | $1,013 | $1,056 |
the current portion of post-employment obligations is an estimate of current year payments in excess of plan assets. .
| string | null | investment_prior_to_sale = 246
sale_gain = 171
ratio = investment_prior_to_sale / sale_gain
answer = ratio |
what was the ratio of the excess of the benefits over their fair value in 2015 to 2014 as of december 31 , 2015 and 2014 , the benefit obligations associated with these plans exceeded the fair value of the plan assets by $ 67 million and $ 51 million , respectively . | 1.3099999428 | CodeFinQA | nbcuniversal media , llc our consolidated balance sheet also includes the assets and liabilities of certain legacy pension plans , as well as the assets and liabilities for pension plans of certain foreign subsidiaries . as of december 31 , 2015 and 2014 , the benefit obligations associated with these plans exceeded the fair value of the plan assets by $ 67 million and $ 51 million , respectively . other employee benefits deferred compensation plans we maintain unfunded , nonqualified deferred compensation plans for certain members of management ( each , a 201cparticipant 201d ) . the amount of compensation deferred by each participant is based on participant elections . participants in the plan designate one or more valuation funds , independently established funds or indices that are used to determine the amount of investment gain or loss in the participant 2019s account . additionally , certain of our employees participate in comcast 2019s unfunded , nonqualified deferred compensa- tion plan . the amount of compensation deferred by each participant is based on participant elections . participant accounts are credited with income primarily based on a fixed annual rate . in the case of both deferred compensation plans , participants are eligible to receive distributions from their account based on elected deferral periods that are consistent with the plans and applicable tax law . the table below presents the benefit obligation and interest expense for our deferred compensation plans. .
| Year ended December 31 (in millions) | 2015 | 2014 | 2013 |
| :--- | :--- | :--- | :--- |
| Benefit obligation | $417 | $349 | $250 |
| Interest expense | $28 | $24 | $18 |
retirement investment plans we sponsor several 401 ( k ) defined contribution retirement plans that allow eligible employees to contribute a portion of their compensation through payroll deductions in accordance with specified plan guidelines . we make contributions to the plans that include matching a percentage of the employees 2019 contributions up to certain limits . in 2015 , 2014 and 2013 , expenses related to these plans totaled $ 174 million , $ 165 million and $ 152 million , respectively . multiemployer benefit plans we participate in various multiemployer benefit plans , including pension and postretirement benefit plans , that cover some of our employees and temporary employees who are represented by labor unions . we also partic- ipate in other multiemployer benefit plans that provide health and welfare and retirement savings benefits to active and retired participants . we make periodic contributions to these plans in accordance with the terms of applicable collective bargaining agreements and laws but do not sponsor or administer these plans . we do not participate in any multiemployer benefit plans for which we consider our contributions to be individually significant , and the largest plans in which we participate are funded at a level of 80% ( 80 % ) or greater . in 2015 , 2014 and 2013 , the total contributions we made to multiemployer pension plans were $ 77 million , $ 58 million and $ 59 million , respectively . in 2015 , 2014 and 2013 , the total contributions we made to multi- employer postretirement and other benefit plans were $ 119 million , $ 125 million and $ 98 million , respectively . if we cease to be obligated to make contributions or were to otherwise withdraw from participation in any of these plans , applicable law would require us to fund our allocable share of the unfunded vested benefits , which is known as a withdrawal liability . in addition , actions taken by other participating employers may lead to adverse changes in the financial condition of one of these plans , which could result in an increase in our withdrawal liability . comcast 2015 annual report on form 10-k 166 .
| string | null | excess_over_fair_value = 67 / 51
answer = excess_over_fair_value |
what was the percentage change in cash provided by operating activities from 2007 to 2008? | 24 | CodeFinQA | 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 , 2009 , we had a working capital surplus of approximately $ 1.0 billion , which reflects our decision to maintain additional cash reserves to enhance liquidity in response to difficult economic conditions . at december 31 , 2008 , we had a working capital deficit of approximately $ 100 million . historically , we have had a working capital deficit , which is common in our industry and does not indicate a lack of liquidity . we maintain adequate resources and , when necessary , have access to capital to meet any daily and short-term cash requirements , and we have sufficient financial capacity to satisfy our current liabilities . cash flows millions of dollars 2009 2008 2007 .
| <i>Millions of Dollars</i> | <i>2009</i> | 2008 | 2007 |
| :--- | :--- | :--- | :--- |
| Cash provided by operating activities | $3,234 | $4,070 | $3,277 |
| Cash used in investing activities | (2,175) | (2,764) | (2,426) |
| Cash used in financing activities | (458) | (935) | (800) |
| Net change in cash and cash equivalents | $601 | $371 | $51 |
operating activities lower net income in 2009 , a reduction of $ 184 million in the outstanding balance of our accounts receivable securitization program , higher pension contributions of $ 72 million , and changes to working capital combined to decrease cash provided by operating activities compared to 2008 . higher net income and changes in working capital combined to increase cash provided by operating activities in 2008 compared to 2007 . in addition , accelerated tax deductions enacted in 2008 on certain new operating assets resulted in lower income tax payments in 2008 versus 2007 . voluntary pension contributions in 2008 totaling $ 200 million and other pension contributions of $ 8 million partially offset the year-over-year increase versus 2007 . investing activities lower capital investments and higher proceeds from asset sales drove the decrease in cash used in investing activities in 2009 versus 2008 . increased capital investments and lower proceeds from asset sales drove the increase in cash used in investing activities in 2008 compared to 2007. .
| string | null | cash_provided_2008 = 4070
cash_provided_2007 = 3277
change = cash_provided_2008 - cash_provided_2007
percent_change = change / cash_provided_2007
answer = percent_change * 100 |
what percentage of the total purchase price was contingent consideration? | 25.7999992371 | CodeFinQA | table of contents the company concluded that the acquisition of sentinelle medical did not represent a material business combination , and therefore , no pro forma financial information has been provided herein . subsequent to the acquisition date , the company 2019s results of operations include the results of sentinelle medical , which is included within the company 2019s breast health reporting segment . the company accounted for the sentinelle medical acquisition as a purchase of a business under asc 805 . the purchase price was comprised of an $ 84.8 million cash payment , which was net of certain adjustments , plus three contingent payments up to a maximum of an additional $ 250.0 million in cash . the contingent payments are based on a multiple of incremental revenue growth during the two-year period following the completion of the acquisition as follows : six months after acquisition , 12 months after acquisition , and 24 months after acquisition . pursuant to asc 805 , the company recorded its estimate of the fair value of the contingent consideration liability based on future revenue projections of the sentinelle medical business under various potential scenarios and weighted probability assumptions of these outcomes . as of the date of acquisition , these cash flow projections were discounted using a rate of 16.5% ( 16.5 % ) . the discount rate is based on the weighted-average cost of capital of the acquired business plus a credit risk premium for non-performance risk related to the liability pursuant to asc 820 . this analysis resulted in an initial contingent consideration liability of $ 29.5 million , which will be adjusted periodically as a component of operating expenses based on changes in the fair value of the liability driven by the accretion of the liability for the time value of money and changes in the assumptions pertaining to the achievement of the defined revenue growth milestones . this fair value measurement was based on significant inputs not observable in the market and thus represented a level 3 measurement as defined in asc during each quarter in fiscal 2011 , the company has re-evaluated its assumptions and updated the revenue and probability assumptions for future earn-out periods and lowered its projections . as a result of these adjustments , which were partially offset by the accretion of the liability , and using a current discount rate of approximately 17.0% ( 17.0 % ) , the company recorded a reversal of expense of $ 14.3 million in fiscal 2011 to record the contingent consideration liability at fair value . in addition , during the second quarter of fiscal 2011 , the first earn-out period ended , and the company adjusted the fair value of the contingent consideration liability for actual results during the earn-out period . this payment of $ 4.3 million was made in the third quarter of fiscal 2011 . at september 24 , 2011 , the fair value of the liability is $ 10.9 million . the company did not issue any equity awards in connection with this acquisition . the company incurred third-party transaction costs of $ 1.2 million , which were expensed within general and administrative expenses in fiscal 2010 . the purchase price was as follows: .
| Cash | $84,751 |
| :--- | :--- |
| Contingent consideration | 29,500 |
| Total purchase price | $114,251 |
source : hologic inc , 10-k , november 23 , 2011 powered by morningstar ae document research 2120 the information contained herein may not be copied , adapted or distributed and is not warranted to be accurate , complete or timely . the user assumes all risks for any damages or losses arising from any use of this information , except to the extent such damages or losses cannot be limited or excluded by applicable law . past financial performance is no guarantee of future results. .
| string | null | contingent_consideration = 29500
purchase_price = 114251
percent_contingent = contingent_consideration / purchase_price
answer = percent_contingent * 100 |
what was the percentage change in interest payments from 2007 to 2008? | 124 | CodeFinQA | notes to the consolidated financial statements on march 18 , 2008 , ppg completed a public offering of $ 600 million in aggregate principal amount of its 5.75% ( 5.75 % ) notes due 2013 ( the 201c2013 notes 201d ) , $ 700 million in aggregate principal amount of its 6.65% ( 6.65 % ) notes due 2018 ( the 201c2018 notes 201d ) and $ 250 million in aggregate principal amount of its 7.70% ( 7.70 % ) notes due 2038 ( the 201c2038 notes 201d and , together with the 2013 notes and the 2018 notes , the 201cnotes 201d ) . the notes were offered by the company pursuant to its existing shelf registration . the proceeds of this offering of $ 1538 million ( net of discount and issuance costs ) and additional borrowings of $ 195 million under the 20ac650 million revolving credit facility were used to repay existing debt , including certain short-term debt and the amounts outstanding under the 20ac1 billion bridge loan . no further amounts can be borrowed under the 20ac1 billion bridge loan . the discount and issuance costs related to the notes , which totaled $ 12 million , will be amortized to interest expense over the respective lives of the notes . short-term debt outstanding as of december 31 , 2008 and 2007 , was as follows : ( millions ) 2008 2007 .
| <i>(Millions)</i> | 2008 | 2007 |
| :--- | :--- | :--- |
| €1 billion bridge loan agreement, 5.2% | $— | $1,047 |
| U.S. commercial paper, 5.3% as of Dec. 31, 2008 | 222 | 617 |
| €650 million revolving credit facility, weighted average 2.9% as of Dec. 31, 2008<sup>(1)</sup> | 200 | — |
| Other, weighted average 4.0% as of Dec. 31, 2008 | 362 | 154 |
| <i></i> <i>Total</i> | $784 | $1,818 |
total $ 784 $ 1818 ( 1 ) borrowings under this facility have a term of 30 days and can be rolled over monthly until the facility expires in 2010 . 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 , 2008 , 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 2008 , 2007 and 2006 totaled $ 228 million , $ 102 million and $ 90 million , respectively . rental expense for operating leases was $ 267 million , $ 188 million and $ 161 million in 2008 , 2007 and 2006 , respectively . the primary leased assets include paint stores , transportation equipment , warehouses and other distribution facilities , and office space , including the company 2019s corporate headquarters located in pittsburgh , pa . minimum lease commitments for operating leases that have initial or remaining lease terms in excess of one year as of december 31 , 2008 , are ( in millions ) $ 126 in 2009 , $ 107 in 2010 , $ 82 in 2011 , $ 65 in 2012 , $ 51 in 2013 and $ 202 thereafter . the company had outstanding letters of credit of $ 82 million as of december 31 , 2008 . the letters of credit secure the company 2019s performance to third parties under certain self-insurance programs and other commitments made in the ordinary course of business . as of december 31 , 2008 and 2007 guarantees outstanding were $ 70 million . the guarantees relate primarily to debt of certain entities in which ppg has an ownership interest and selected customers of certain of the company 2019s businesses . a portion of such debt is secured by the assets of the related entities . the carrying values of these guarantees were $ 9 million and $ 3 million as of december 31 , 2008 and 2007 , respectively , and the fair values were $ 40 million and $ 17 million , as of december 31 , 2008 and 2007 , respectively . the company does not believe any loss related to these letters of credit or guarantees is likely . 10 . financial instruments , excluding derivative financial instruments included in ppg 2019s financial instrument portfolio are cash and cash equivalents , cash held in escrow , marketable equity securities , company-owned life insurance and short- and long-term debt instruments . the fair values of the financial instruments approximated their carrying values , in the aggregate , except for long-term long-term debt ( excluding capital lease obligations ) , had carrying and fair values totaling $ 3122 million and $ 3035 million , respectively , as of december 31 , 2008 . the corresponding amounts as of december 31 , 2007 , were $ 1201 million and $ 1226 million , respectively . the fair values of the debt instruments were based on discounted cash flows and interest rates currently available to the company for instruments of the same remaining maturities . 2008 ppg annual report and form 10-k 45 .
| string | null | interest_payments_2008 = 228
interest_payments_2007 = 102
change = interest_payments_2008 - interest_payments_2007
percent_change = change / interest_payments_2007
answer = percent_change * 100 |
what is the percentage change in total multi-asset aum during 2016? | 5 | CodeFinQA | long-term product offerings include active and index strategies . our active strategies seek to earn attractive returns in excess of a market benchmark or performance hurdle while maintaining an appropriate risk profile . we offer two types of active strategies : those that rely primarily on fundamental research and those that utilize primarily quantitative models to drive portfolio construction . in contrast , index strategies seek to closely track the returns of a corresponding index , generally by investing in substantially the same underlying securities within the index or in a subset of those securities selected to approximate a similar risk and return profile of the index . index strategies include both our non-etf index products and ishares etfs . although many clients use both active and index strategies , the application of these strategies may differ . for example , clients may use index products to gain exposure to a market or asset class , or may use a combination of index strategies to target active returns . in addition , institutional non-etf index assignments tend to be very large ( multi-billion dollars ) and typically reflect low fee rates . this has the potential to exaggerate the significance of net flows in institutional index products on blackrock 2019s revenues and earnings . equity year-end 2016 equity aum totaled $ 2.657 trillion , reflecting net inflows of $ 51.4 billion . net inflows included $ 74.9 billion into ishares , driven by net inflows into the core ranges and broad developed and emerging market equities . ishares net inflows were partially offset by active and non-etf index net outflows of $ 20.2 billion and $ 3.3 billion , respectively . blackrock 2019s effective fee rates fluctuate due to changes in aum mix . approximately half of blackrock 2019s equity aum is tied to international markets , including emerging markets , which tend to have higher fee rates than u.s . equity strategies . accordingly , fluctuations in international equity markets , which may not consistently move in tandem with u.s . markets , have a greater impact on blackrock 2019s effective equity fee rates and revenues . fixed income fixed income aum ended 2016 at $ 1.572 trillion , reflecting net inflows of $ 120.0 billion . in 2016 , active net inflows of $ 16.6 billion were diversified across fixed income offerings , and included strong inflows from insurance clients . fixed income ishares net inflows of $ 59.9 billion were led by flows into the core ranges , emerging market , high yield and corporate bond funds . non-etf index net inflows of $ 43.4 billion were driven by demand for liability-driven investment solutions . multi-asset blackrock 2019s multi-asset team manages a variety of balanced funds and bespoke mandates for a diversified client base that leverages our broad investment expertise in global equities , bonds , currencies and commodities , and our extensive risk management capabilities . investment solutions might include a combination of long-only portfolios and alternative investments as well as tactical asset allocation overlays . component changes in multi-asset aum for 2016 are presented below . ( in millions ) december 31 , net inflows ( outflows ) market change impact december 31 .
| (in millions) | December 31,2015 | Net inflows (outflows) | Marketchange | FX impact | December 31,2016 |
| :--- | :--- | :--- | :--- | :--- | :--- |
| Asset allocation and balanced | $185,836 | $(10,332) | $6,705 | $(5,534) | $176,675 |
| Target date/risk | 125,664 | 13,500 | 10,189 | 79 | 149,432 |
| Fiduciary | 64,433 | 998 | 5,585 | (2,621) | 68,395 |
| FutureAdvisor<sup>(1)</sup> | 403 | 61 | 41 | — | 505 |
| Total | $376,336 | $4,227 | $22,520 | $(8,076) | $395,007 |
( 1 ) the futureadvisor amount does not include aum that was held in ishares holdings . multi-asset net inflows reflected ongoing institutional demand for our solutions-based advice with $ 13.2 billion of net inflows coming from institutional clients . defined contribution plans of institutional clients remained a significant driver of flows , and contributed $ 11.3 billion to institutional multi-asset net inflows in 2016 , primarily into target date and target risk product offerings . retail net outflows of $ 9.4 billion were primarily due to outflows from world allocation strategies . the company 2019s multi-asset strategies include the following : 2022 asset allocation and balanced products represented 45% ( 45 % ) of multi-asset aum at year-end . these strategies combine equity , fixed income and alternative components for investors seeking a tailored solution relative to a specific benchmark and within a risk budget . in certain cases , these strategies seek to minimize downside risk through diversification , derivatives strategies and tactical asset allocation decisions . flagship products in this category include our global allocation and multi-asset income fund families . 2022 target date and target risk products grew 11% ( 11 % ) organically in 2016 , with net inflows of $ 13.5 billion . institutional investors represented 94% ( 94 % ) of target date and target risk aum , with defined contribution plans accounting for 88% ( 88 % ) of aum . flows were driven by defined contribution investments in our lifepath and lifepath retirement income ae offerings . lifepath products utilize a proprietary asset allocation model that seeks to balance risk and return over an investment horizon based on the investor 2019s expected retirement timing . 2022 fiduciary management services are complex mandates in which pension plan sponsors or endowments and foundations retain blackrock to assume responsibility for some or all aspects of plan management . these customized services require strong partnership with the clients 2019 investment staff and trustees in order to tailor investment strategies to meet client-specific risk budgets and return objectives. .
| string | null | aum_2016 = 395007
aum_2015 = 376336
difference = aum_2016 - aum_2015
percent_difference = difference / aum_2015
answer = percent_difference * 100 |
what is the growth rate in operating income from 2015 to 2016? | 2 | CodeFinQA | 2016 compared with 2015 net gains on investments of $ 57 million in 2016 decreased $ 52 million from 2015 due to lower net gains in 2016 . net gains on investments in 2015 included a $ 40 million gain related to the bkca acquisition and a $ 35 million unrealized gain on a private equity investment . interest and dividend income increased $ 14 million from 2015 primarily due to higher dividend income in 2016 . 2015 compared with 2014 net gains on investments of $ 109 million in 2015 decreased $ 45 million from 2014 due to lower net gains in 2015 . net gains on investments in 2015 included a $ 40 million gain related to the bkca acquisition and a $ 35 million unrealized gain on a private equity investment . net gains on investments in 2014 included the positive impact of the monetization of a nonstrategic , opportunistic private equity investment . interest expense decreased $ 28 million from 2014 primarily due to repayments of long-term borrowings in the fourth quarter of 2014 . income tax expense .
| | GAAP | As adjusted |
| :--- | :--- | :--- |
| (in millions) | 2016 | 2015 | 2014 | 2016 | 2015 | 2014 |
| Operating income<sup>(1)</sup> | $4,570 | $4,664 | $4,474 | $4,674 | $4,695 | $4,563 |
| Total nonoperating income (expense)<sup>(1),(2)</sup> | (108) | (69) | (49) | (108) | (70) | (56) |
| Income before income taxes<sup>(2)</sup> | $4,462 | $4,595 | $4,425 | $4,566 | $4,625 | $4,507 |
| Income tax expense | $1,290 | $1,250 | $1,131 | $1,352 | $1,312 | $1,197 |
| Effective tax rate | 28.9% | 27.2% | 25.6% | 29.6% | 28.4% | 26.6% |
( 1 ) see non-gaap financial measures for further information on and reconciliation of as adjusted items . ( 2 ) net of net income ( loss ) attributable to nci . the company 2019s tax rate is affected by tax rates in foreign jurisdictions and the relative amount of income earned in those jurisdictions , which the company expects to be fairly consistent in the near term . the significant foreign jurisdictions that have lower statutory tax rates than the u.s . federal statutory rate of 35% ( 35 % ) include the united kingdom , channel islands , ireland and canada . u.s . income taxes were not provided for certain undistributed foreign earnings intended to be indefinitely reinvested outside the united states . 2016 . income tax expense ( gaap ) reflected : 2022 a net noncash benefit of $ 30 million , primarily associated with the revaluation of certain deferred income tax liabilities ; and 2022 a benefit from $ 65 million of nonrecurring items , including the resolution of certain outstanding tax matters . the as adjusted effective tax rate of 29.6% ( 29.6 % ) for 2016 excluded the net noncash benefit of $ 30 million mentioned above , as it will not have a cash flow impact and to ensure comparability among periods presented . 2015 . income tax expense ( gaap ) reflected : 2022 a net noncash benefit of $ 54 million , primarily associated with the revaluation of certain deferred income tax liabilities ; and 2022 a benefit from $ 75 million of nonrecurring items , primarily due to the realization of losses from changes in the company 2019s organizational tax structure and the resolution of certain outstanding tax matters . the as adjusted effective tax rate of 28.4% ( 28.4 % ) for 2015 excluded the net noncash benefit of $ 54 million mentioned above , as it will not have a cash flow impact and to ensure comparability among periods presented . 2014 . income tax expense ( gaap ) reflected : 2022 a $ 94 million tax benefit , primarily due to the resolution of certain outstanding tax matters related to the acquisition of bgi , including the previously mentioned $ 50 million tax benefit ( see executive summary for more information ) ; 2022 a $ 73 million net tax benefit related to several favorable nonrecurring items ; and 2022 a net noncash benefit of $ 9 million associated with the revaluation of deferred income tax liabilities . the as adjusted effective tax rate of 26.6% ( 26.6 % ) for 2014 excluded the $ 9 million net noncash benefit as it will not have a cash flow impact and to ensure comparability among periods presented and the $ 50 million tax benefit mentioned above . the $ 50 million general and administrative expense and $ 50 million tax benefit have been excluded from as adjusted results as there is no impact on blackrock 2019s book value . balance sheet overview as adjusted balance sheet the following table presents a reconciliation of the consolidated statement of financial condition presented on a gaap basis to the consolidated statement of financial condition , excluding the impact of separate account assets and separate account collateral held under securities lending agreements ( directly related to lending separate account securities ) and separate account liabilities and separate account collateral liabilities under securities lending agreements and consolidated sponsored investment funds , including consolidated vies . the company presents the as adjusted balance sheet as additional information to enable investors to exclude certain .
| string | null | income_2016 = 4570
income_2015 = 4664
growth_rate = income_2016 - income_2015
percent_growth = growth_rate / income_2015
answer = percent_growth * 100 |
what was the percent of our investment in clearwire compared to other investors | 32.7999992371 | CodeFinQA | llc 201d ) , that will focus on the deployment of a nationwide 4g wire- less network . we , together with the other members of the investor group , have invested $ 3.2 billion in clearwire llc . our portion of the investment was $ 1.05 billion . as a result of our investment , we received ownership units ( 201cownership units 201d ) of clearwire llc and class b stock ( 201cvoting stock 201d ) of clearwire corporation , the pub- licly traded holding company that controls clearwire llc . the voting stock has voting rights equal to those of the publicly traded class a stock of clearwire corporation , but has only minimal economic rights . we hold our economic rights through the owner- ship units , which have limited voting rights . one ownership unit combined with one share of voting stock are exchangeable into one share of clearwire corporation 2019s publicly traded class a stock . at closing , we received 52.5 million ownership units and 52.5 million shares of voting stock , which represents an approx- imate 7% ( 7 % ) ownership interest on a fully diluted basis . during the first quarter of 2009 , the purchase price per share is expected to be adjusted based on the trading prices of clearwire corporation 2019s publicly traded class a stock . after the post-closing adjustment , we anticipate that we will have an approximate 8% ( 8 % ) ownership interest on a fully diluted basis . in connection with the clearwire transaction , we entered into an agreement with sprint that allows us to offer wireless services utilizing certain of sprint 2019s existing wireless networks and an agreement with clearwire llc that allows us to offer wireless serv- ices utilizing clearwire 2019s next generation wireless broadband network . we allocated a portion of our $ 1.05 billion investment to the related agreements . we will account for our investment under the equity method and record our share of net income or loss one quarter in arrears . clearwire llc is expected to incur losses in the early years of operation , which under the equity method of accounting , will be reflected in our future operating results and reduce the cost basis of our investment . we evaluated our investment at december 31 , 2008 to determine if an other than temporary decline in fair value below our cost basis had occurred . the primary input in estimating the fair value of our investment was the quoted market value of clearwire publicly traded class a shares at december 31 , 2008 , which declined significantly from the date of our initial agreement in may 2008 . as a result of the severe decline in the quoted market value , we recognized an impairment in other income ( expense ) of $ 600 million to adjust our cost basis in our investment to its esti- mated fair value . in the future , our evaluation of other than temporary declines in fair value of our investment will include a comparison of actual operating results and updated forecasts to the projected discounted cash flows that were used in making our initial investment decision , other impairment indicators , such as changes in competition or technology , as well as a comparison to the value that would be obtained by exchanging our investment into clearwire corporation 2019s publicly traded class a shares . cost method airtouch communications , inc . we hold two series of preferred stock of airtouch communica- tions , inc . ( 201cairtouch 201d ) , a subsidiary of vodafone , which are redeemable in april 2020 . as of december 31 , 2008 and 2007 , the airtouch preferred stock was recorded at $ 1.479 billion and $ 1.465 billion , respectively . as of december 31 , 2008 , the estimated fair value of the airtouch preferred stock was $ 1.357 billion , which is below our carrying amount . the recent decline in fair value is attributable to changes in interest rates . we have determined this decline to be temporary . the factors considered were the length of time and the extent to which the market value has been less than cost , the credit rating of airtouch , and our intent and ability to retain the investment for a period of time sufficient to allow for recovery . specifically , we expect to hold the two series of airtouch preferred stock until their redemption in 2020 . the dividend and redemption activity of the airtouch preferred stock determines the dividend and redemption payments asso- ciated with substantially all of the preferred shares issued by one of our consolidated subsidiaries , which is a vie . the subsidiary has three series of preferred stock outstanding with an aggregate redemption value of $ 1.750 billion . substantially all of the preferred shares are redeemable in april 2020 at a redemption value of $ 1.650 billion . as of december 31 , 2008 and 2007 , the two redeemable series of subsidiary preferred shares were recorded at $ 1.468 billion and $ 1.465 billion , respectively , and those amounts are included in other noncurrent liabilities . the one nonredeemable series of subsidiary preferred shares was recorded at $ 100 million as of both december 31 , 2008 and 2007 and those amounts are included in minority interest on our consolidated balance sheet . investment income ( loss ) , net .
| Year ended December 31 (in millions) | 2008 | 2007 | 2006 |
| :--- | :--- | :--- | :--- |
| Gains on sales and exchanges of investments, net | $8 | $151 | $733 |
| Investment impairment losses | (28) | (4) | (4) |
| Unrealized gains (losses) on trading securities and hedged items | (1,117) | 315 | 339 |
| Mark to market adjustments on derivatives related to trading securities and hedged items | 1,120 | (188) | (238) |
| Mark to market adjustments on derivatives | 57 | 160 | (18) |
| Interest and dividend income | 149 | 199 | 212 |
| Other | (100) | (32) | (34) |
| Investment income (loss), net | $89 | $601 | $990 |
55 comcast 2008 annual report on form 10-k .
| string | null | investment = 1.05
market_value = 3.2
percent_of_investment = investment / market_value
answer = percent_of_investment * 100 |
what percentage did the allowance for doubtful accounts receivables increase from the beginning of 2015 to the end of 2016? | 119.4000015259 | CodeFinQA | advance auto parts , inc . schedule ii - valuation and qualifying accounts ( in thousands ) allowance for doubtful accounts receivable : balance at beginning of period charges to expenses deductions balance at end of period january 3 , 2015 $ 13295 $ 17182 $ ( 14325 ) ( 1 ) $ 16152 january 2 , 2016 16152 22067 ( 12461 ) ( 1 ) 25758 december 31 , 2016 25758 24597 ( 21191 ) ( 1 ) 29164 ( 1 ) accounts written off during the period . these amounts did not impact the company 2019s statement of operations for any year presented . note : other valuation and qualifying accounts have not been reported in this schedule because they are either not applicable or because the information has been included elsewhere in this report. .
| Allowance for doubtful accounts receivable: | Balance atBeginningof Period | Charges toExpenses | Deductions | | Balance atEnd ofPeriod |
| :--- | :--- | :--- | :--- | :--- | :--- |
| January 3, 2015 | $13,295 | $17,182 | $(14,325) | <sup>(1)</sup> | $16,152 |
| January 2, 2016 | 16,152 | 22,067 | (12,461) | <sup>(1)</sup> | 25,758 |
| December 31, 2016 | 25,758 | 24,597 | (21,191) | <sup>(1)</sup> | 29,164 |
advance auto parts , inc . schedule ii - valuation and qualifying accounts ( in thousands ) allowance for doubtful accounts receivable : balance at beginning of period charges to expenses deductions balance at end of period january 3 , 2015 $ 13295 $ 17182 $ ( 14325 ) ( 1 ) $ 16152 january 2 , 2016 16152 22067 ( 12461 ) ( 1 ) 25758 december 31 , 2016 25758 24597 ( 21191 ) ( 1 ) 29164 ( 1 ) accounts written off during the period . these amounts did not impact the company 2019s statement of operations for any year presented . note : other valuation and qualifying accounts have not been reported in this schedule because they are either not applicable or because the information has been included elsewhere in this report. .
| string | null | allowance_2016 = 29164
allowance_2015 = 13295
decrease = allowance_2016 - allowance_2015
percent_change = decrease / allowance_2015
answer = percent_change * 100 |
what was the value of all the shares purchased in october? | 147169968 | CodeFinQA | the following table discloses purchases of shares of valero 2019s common stock made by us or on our behalf during the fourth quarter of period total number of shares purchased average price paid per share total number of shares not purchased as part of publicly announced plans or programs ( a ) total number of shares purchased as part of publicly announced plans or programs approximate dollar value of shares that may yet be purchased under the plans or programs ( b ) .
| Period | Total Numberof SharesPurchased | AveragePrice Paidper Share | Total Number ofShares NotPurchased as Part ofPublicly AnnouncedPlans or Programs (a) | Total Number ofShares Purchased asPart of PubliclyAnnounced Plans orPrograms | Approximate DollarValue of Shares thatMay Yet Be PurchasedUnder the Plans orPrograms (b) |
| :--- | :--- | :--- | :--- | :--- | :--- |
| October 2014 | 3,180,678 | $46.27 | 302,005 | 2,878,673 | $ 1.8 billion |
| November 2014 | 2,001,273 | $50.32 | 119,047 | 1,882,226 | $ 1.7 billion |
| December 2014 | 5,120,398 | $48.56 | 2,624 | 5,117,774 | $ 1.5 billion |
| Total | 10,302,349 | $48.20 | 423,676 | 9,878,673 | $ 1.5 billion |
( a ) the shares reported in this column represent purchases settled in the fourth quarter of 2014 relating to ( i ) our purchases of shares in open-market transactions to meet our obligations under stock-based compensation plans , and ( ii ) our purchases of shares from our employees and non-employee directors in connection with the exercise of stock options , the vesting of restricted stock , and other stock compensation transactions in accordance with the terms of our stock-based compensation plans . ( b ) on february 28 , 2008 , we announced that our board of directors approved a $ 3 billion common stock purchase program . this $ 3 billion program has no expiration date. .
| string | null | shares_purchased = 3180678
price = 46.27
value = shares_purchased * price
answer = value |
what was the ratio of the accounts payable and accrued liabilities in 2010 compared to 2009 | 0.7200000286 | CodeFinQA | revenue from other sources includes scrap sales , bulk sales to mechanical remanufacturers , and sales of aluminum ingots and sows . foreign currency translation for our foreign operations , the local currency is the functional currency . assets and liabilities are translated into u.s . dollars at the period-ending exchange rate . statements of income amounts are translated to u.s . dollars using average exchange rates during the period . translation gains and losses are reported as a component of accumulated other comprehensive income ( loss ) in stockholders 2019 equity . gains and losses from foreign currency transactions are included in current earnings . recent accounting pronouncements on january 1 , 2011 , we will adopt financial accounting standards board accounting standards update 2010-29 , 201cdisclosure of supplementary pro forma information for business combinations , 201d which clarifies the disclosure requirements for pro forma financial information related to a material business combination or a series of immaterial business combinations that are material in the aggregate . the guidance clarified that the pro forma disclosures are prepared assuming the business combination occurred at the start of the prior annual reporting period . additionally , a narrative description of the nature and amount of material , non-recurring pro forma adjustments would be required . as this newly issued accounting standard only requires enhanced disclosure , the adoption of this standard will not impact our financial position or results of operations . note 3 . discontinued operations on october 1 , 2009 , we sold to schnitzer steel industries , inc . ( 201cssi 201d ) four self service retail facilities in oregon and washington and certain business assets related to two self service facilities in northern california and a self service facility in portland , oregon for $ 17.5 million , net of cash sold . we recognized a gain on the sale of approximately $ 2.5 million , net of tax , in our fourth quarter 2009 results . goodwill totaling $ 9.9 million was included in the cost basis of net assets disposed when determining the gain on sale . in the fourth quarter of 2009 , we closed the two self service facilities in northern california and converted the self service operation in portland to a wholesale recycling business . on january 15 , 2010 , we also sold to ssi two self service retail facilities in dallas , texas for $ 12.0 million . we recognized a gain on the sale of approximately $ 1.7 million , net of tax , in our first quarter 2010 results . goodwill totaling $ 6.7 million was included in the cost basis of net assets disposed when determining the gain on the self service facilities that we sold or closed are reported as discontinued operations for all periods presented . we reported these facilities in discontinued operations because the cash flows derived from the facilities were eliminated as a result of the sales or closures , and we will not have continuing involvement in these facilities . a summary of the assets and liabilities applicable to discontinued operations included in the consolidated balance sheets as of december 31 , 2010 and 2009 is as follows ( in thousands ) : december 31 , december 31 .
| | December 31, 2010 | December 31, 2009 |
| :--- | :--- | :--- |
| Inventory | $— | $1,152 |
| Other current assets | — | 307 |
| Property and equipment, net | — | 1,553 |
| Goodwill | — | 6,708 |
| Total assets | $— | $9,720 |
| Accounts payable and accrued liabilities | $2,744 | $3,832 |
| Total liabilities | $2,744 | $3,832 |
.
| string | null | accounts_payable_liabilities_2010 = 2744
accounts_payable_liabilities_2009 = 3832
ratio = accounts_payable_liabilities_2010 / accounts_payable_liabilities_2009
answer = ratio |
what is the variation observed in the resulting change in provision for income taxes caused by errors during 2002 and 2001? | 1628 | CodeFinQA | for fiscal year 2005 , the effective tax rate includes the impact of $ 11.6 million tax expense associated with repatriation of approximately $ 185.0 million of foreign earnings under the provisions of the american jobs creation act of 2004 . for fiscal year 2004 , the effective tax rate reflects the tax benefit derived from higher earnings in low-tax jurisdictions . during fiscal year 2006 , primarily due to a tax accounting method change , there was a decrease of $ 83.2 million in the current deferred tax assets , and a corresponding increase in non-current deferred tax assets . in the third quarter of fiscal year 2006 , we changed our tax accounting method on our tax return for fiscal year 2005 with respect to the current portion of deferred revenue to follow the recognition of revenue under u.s . generally accepted accounting principles . this accounting method change , as well as other adjustments made to our taxable income upon the filing of the fiscal year 2005 tax return , resulted in an increase in our operating loss ( nol ) carryforwards . in may 2006 , the tax increase prevention and reconciliation act of 2005 was enacted , which provides a three-year exception to current u.s . taxation of certain foreign intercompany income . this provision will first apply to synopsys in fiscal year 2007 . management estimates that had such provisions been applied for fiscal 2006 , our income tax expense would have been reduced by approximately $ 3 million . in december 2006 , the tax relief and health care act of 2006 was enacted , which retroactively extended the research and development credit from january 1 , 2006 . as a result , we will record an expected increase in our fiscal 2006 research and development credit of between $ 1.5 million and $ 1.8 million in the first quarter of fiscal 2007 . revision of prior year financial statements . as part of our remediation of the material weakness in internal control over financial reporting identified in fiscal 2005 relating to accounting for income taxes we implemented additional internal control and review procedures . through such procedures , in the fourth quarter of fiscal 2006 , we identified four errors totaling $ 8.2 million which affected our income tax provision in fiscal years 2001 through 2005 . we concluded that these errors were not material to any prior year financial statements . although the errors are not material to prior periods , we elected to revise prior year financial statements to correct such errors . the fiscal periods in which the errors originated , and the resulting change in provision ( benefit ) for income taxes for each year , are reflected in the following table : year ended october 31 ( in thousands ) .
| 2001 | 2002 | 2003 | 2004 | 2005 |
| :--- | :--- | :--- | :--- | :--- |
| $205 | $1,833 | $5,303 | $(748) | $1,636 |
the errors were as follows : ( 1 ) synopsys inadvertently provided a $ 1.4 million tax benefit for the write- off of goodwill relating to an acquisition in fiscal 2002 ; ( 2 ) synopsys did not accrue interest and penalties for certain foreign tax contingency items in the amount of $ 3.2 million ; ( 3 ) synopsys made certain computational errors relating to foreign dividends of $ 2.3 million ; and ( 4 ) synopsys did not record a valuation allowance relating to certain state tax credits of $ 1.3 million . as result of this revision , non-current deferred tax assets decreased by $ 8.1 million and current taxes payable increased by $ 0.2 million . retained earnings decreased by $ 8.2 million and additional paid in capital decreased by $ 0.1 million . see item 9a . controls and procedures for a further discussion of our remediation of the material weakness . tax effects of stock awards . in november 2005 , fasb issued a staff position ( fsp ) on fas 123 ( r ) -3 , transition election related to accounting for the tax effects of share-based payment awards . effective upon issuance , this fsp describes an alternative transition method for calculating the tax effects of share-based compensation pursuant to sfas 123 ( r ) . the alternative transition method includes simplified methods to establish the beginning balance of the additional paid-in capital pool ( apic pool ) related to the tax effects of employee stock based compensation , and to determine the subsequent impact on the apic pool and the statement of cash flows of the tax effects of employee share-based compensation .
| string | null | tax_benefit_2002 = 1833
tax_expense_2002 = 205
tax_benefit_2001 = 5303
tax_expense_2001 = 748
tax_benefit_2000 = 1636
tax_expense_2000 = 205
answer = tax_benefit_2002 - tax_expense_2002 |
in 2018 what was the percent of the total unrecognized compensation expense due in 2020 | 27.8999996185 | CodeFinQA | we have not capitalized any stock-based compensation costs during the years ended december 31 , 2018 , 2017 , and as of december 31 , 2018 , unrecognized compensation expense related to unvested rsus is expected to be recognized as follows ( in thousands ) : .
| | RSUs |
| :--- | :--- |
| 2019 | $15,166 |
| 2020 | 9,715 |
| 2021 | 6,315 |
| 2022 | 3,458 |
| 2023 | 150 |
| Total unrecognized compensation expense | $34,804 |
stock-based compensation expense related to these awards will be different to the extent that forfeitures are realized. .
| string | null | unrecognized_2020 = 9715
unrecognized_total = 34804
percent_2020 = unrecognized_2020 / unrecognized_total
answer = percent_2020 * 100 |
what is the total value of vested shares during the fiscal year ended march 31 , 2012 , in millions? | 1.4600000381 | CodeFinQA | 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) | 10.88 |
| Forfeited | (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. .
| string | null | shares_vested = 134
grant_date_fair_value = 10.88
value = shares_vested * grant_date_fair_value
answer = value / 1000 |
what was the change in net sales for the discontinued operations related to the former glass segment from 2016 to 2017 in millions? | 691 | CodeFinQA | 2018 ppg annual report and form 10-k 59 other acquisitions in 2018 , 2017 , and 2016 , the company completed several smaller business acquisitions . the total consideration paid for these acquisitions , net of cash acquired , debt assumed and other post closing adjustments , was $ 108 million , $ 74 million and $ 43 million , respectively . in january 2018 , ppg acquired procoatings , a leading architectural paint and coatings wholesaler located in the netherlands . procoatings , established in 2001 , distributes a large portfolio of well-known professional paint brands through its network of 23 multi-brand stores . the company employs nearly 100 people . the results of this business since the date of acquisition have been reported within the architectural coatings americas and asia pacific business within the performance coatings reportable segment . in january 2017 , ppg acquired certain assets of automotive refinish coatings company futian xinshi ( 201cfutian 201d ) , based in the guangdong province of china . futian distributes its products in china through a network of more than 200 distributors . in january 2017 , ppg completed the acquisition of deutek s.a. , a leading romanian paint and architectural coatings manufacturer , from the emerging europe accession fund . deutek , established in 1993 , manufactures and markets a large portfolio of well-known professional and consumer paint brands , including oskar and danke! . the company 2019s products are sold in more than 120 do-it-yourself stores and 3500 independent retail outlets in romania . divestitures glass segment in 2017 , ppg completed a multi-year strategic shift in the company's business portfolio , resulting in the exit of all glass operations which consisted of the global fiber glass business , ppg's ownership interest in two asian fiber glass joint ventures and the flat glass business . accordingly , the results of operations , including the gains on the divestitures , and cash flows have been recast as discontinued operations for all periods presented . ppg now has two reportable business segments . the net sales and income from discontinued operations related to the former glass segment for the three years ended december 31 , 2018 , 2017 , and 2016 were as follows: .
| ($ in millions) | 2018 | 2017 | 2016 |
| :--- | :--- | :--- | :--- |
| Net sales | $— | $217 | $908 |
| Income from operations | $21 | $30 | $111 |
| Net gains on the divestitures of businesses | — | 343 | 421 |
| Income tax expense | 5 | 140 | 202 |
| Income from discontinued operations, net of tax | $16 | $233 | $330 |
during 2018 , ppg released $ 13 million of previously recorded accruals and contingencies established in conjunction with the divestitures of businesses within the former glass segment as a result of completed actions , new information and updated estimates . also during 2018 , ppg made a final payment of $ 20 million to vitro s.a.b . de c.v related to the transfer of certain pension obligations upon the sale of the former flat glass business . north american fiber glass business on september 1 , 2017 , ppg completed the sale of its north american fiber glass business to nippon electric glass co . ltd . ( 201cneg 201d ) . cash proceeds from the sale were $ 541 million , resulting in a pre-tax gain of $ 343 million , net of certain accruals and contingencies established in conjunction with the divestiture . ppg 2019s fiber glass operations included manufacturing facilities in chester , south carolina , and lexington and shelby , north carolina ; and administrative and research-and-development operations in shelby and in harmar , pennsylvania , near pittsburgh . the business , which employed more than 1000 people and had net sales of approximately $ 350 million in 2016 , supplies the transportation , energy , infrastructure and consumer markets . flat glass business in october 2016 , ppg completed the sale of its flat glass manufacturing and glass coatings operations to vitro s.a.b . de c.v . ppg received approximately $ 740 million in cash proceeds and recorded a pre-tax gain of $ 421 million on the sale . under the terms of the agreement , ppg divested its entire flat glass manufacturing and glass coatings operations , including production sites located in fresno , california ; salem , oregon ; carlisle , pennsylvania ; and wichita falls , texas ; four distribution/fabrication facilities located across canada ; and a research-and-development center located in harmar , pennsylvania . ppg 2019s flat glass business included approximately 1200 employees . the business manufactures glass that is fabricated into products used primarily in commercial and residential construction . notes to the consolidated financial statements .
| string | null | net_sales_2018 = 217
net_sales_2017 = 908
change = net_sales_2018 - net_sales_2017
answer = change |
what percent of the total purchase price net of cash acquired was goodwill? | 54 | CodeFinQA | 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<sup>(a)</sup> | (12) |
| Total assets | $351 |
| Current liabilities | (23) |
| Other long-term liabilities | (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 .
| string | null | goodwill = 166
purchase_price = 306
percent_goodwill = goodwill / purchase_price
answer = percent_goodwill * 100 |
what is the ratio of short physical contracts to long futures notional contracts? | 0.0410999991 | CodeFinQA | table of contents valero energy corporation and subsidiaries notes to consolidated financial statements ( continued ) cash flow hedges cash flow hedges are used to hedge price volatility in certain forecasted feedstock and refined product purchases , refined product sales , and natural gas purchases . the objective of our cash flow hedges is to lock in the price of forecasted feedstock , product or natural gas purchases or refined product sales at existing market prices that we deem favorable . as of december 31 , 2011 , we had the following outstanding commodity derivative instruments that were entered into to hedge forecasted purchases or sales of crude oil and refined products . the information presents the notional volume of outstanding contracts by type of instrument and year of maturity ( volumes in thousands of barrels ) . notional contract volumes by year of maturity derivative instrument 2012 .
| Derivative Instrument | Notional Contract Volumes by Year of Maturity 2012 |
| :--- | :--- |
| Crude oil and refined products: | |
| Swaps – long | 5,961 |
| Swaps – short | 5,961 |
| Futures – long | 38,201 |
| Futures – short | 36,637 |
| Physical contracts – short | 1,564 |
.
| string | null | short_physical_contracts = 1564
long_futures_notional_contracts = 38201
ratio_short_physical_contracts_to_long_futures_notional_contracts = short_physical_contracts / long_futures_notional_contracts
answer = ratio_short_physical_contracts_to_long_futures_notional_contracts |
what percentage of total number of shares purchased were purchased in november? | 24 | CodeFinQA | five-year performance comparison 2013 the following graph provides an indicator of cumulative total shareholder returns for the corporation as compared to the peer group index ( described above ) , the dj trans , and the s&p 500 . the graph assumes that $ 100 was invested in the common stock of union pacific corporation and each index on december 31 , 2009 and that all dividends were reinvested . the information below is historical in nature and is not necessarily indicative of future performance . purchases of equity securities 2013 during 2014 , we repurchased 33035204 shares of our common stock at an average price of $ 100.24 . the following table presents common stock repurchases during each month for the fourth quarter of 2014 : period total number of shares purchased [a] average price paid per share total number of shares purchased as part of a publicly announced plan or program [b] maximum number of shares that may yet be purchased under the plan or program [b] .
| <i>Period</i> | <i>Total Number of</i><i>Shares</i><i>Purchased[a]</i> | <i>Average</i><i>Price Paid</i><i>PerShare</i> | <i>Total Number of Shares</i><i>Purchased as Part of a</i><i>Publicly Announced</i><i>Plan or Program [b]</i> | <i>Maximum Number of</i><i>Shares That May Yet</i><i>Be Purchased Under the Plan</i><i>or Program [b]</i> |
| :--- | :--- | :--- | :--- | :--- |
| Oct. 1 through Oct. 31 | 3,087,549 | $107.59 | 3,075,000 | 92,618,000 |
| Nov. 1 through Nov. 30 | 1,877,330 | 119.84 | 1,875,000 | 90,743,000 |
| Dec. 1 through Dec. 31 | 2,787,108 | 116.54 | 2,786,400 | 87,956,600 |
| Total | 7,751,987 | $113.77 | 7,736,400 | N/A |
[a] total number of shares purchased during the quarter includes approximately 15587 shares delivered or attested to upc by employees to pay stock option exercise prices , satisfy excess tax withholding obligations for stock option exercises or vesting of retention units , and pay withholding obligations for vesting of retention shares . [b] effective january 1 , 2014 , our board of directors authorized the repurchase of up to 120 million shares of our common stock by december 31 , 2017 . these repurchases may be made on the open market or through other transactions . our management has sole discretion with respect to determining the timing and amount of these transactions. .
| string | null | shares_repurchased = 1877330
shares_total = 7751987
percent_november = shares_repurchased / shares_total
answer = percent_november * 100 |
what was the percentage increase for diesel fuel prices from 2009 to 2010? | 30.8999996185 | CodeFinQA | operating expenses millions 2010 2009 2008 % ( % ) change 2010 v 2009 % ( % ) change 2009 v 2008 .
| <i>Millions</i> | <i>2010</i> | <i>2009</i> | <i>2008</i> | <i>% Change</i> <i>2010 v 2009</i> | <i>% Change</i><i>2009 v 2008</i> |
| :--- | :--- | :--- | :--- | :--- | :--- |
| Compensation and benefits | $4,314 | $4,063 | $4,457 | 6% | (9)% |
| Fuel | 2,486 | 1,763 | 3,983 | 41 | (56) |
| Purchased services and materials | 1,836 | 1,644 | 1,928 | 12 | (15) |
| Depreciation | 1,487 | 1,427 | 1,366 | 4 | 4 |
| Equipment and other rents | 1,142 | 1,180 | 1,326 | (3) | (11) |
| Other | 719 | 687 | 840 | 5 | (18) |
| Total | $11,984 | $10,764 | $13,900 | 11% | (23)% |
operating expenses increased $ 1.2 billion in 2010 versus 2009 . our fuel price per gallon increased 31% ( 31 % ) during the year , accounting for $ 566 million of the increase . wage and benefit inflation , depreciation , volume-related costs , and property taxes also contributed to higher expenses during 2010 compared to 2009 . cost savings from productivity improvements and better resource utilization partially offset these increases . operating expenses decreased $ 3.1 billion in 2009 versus 2008 . our fuel price per gallon declined 44% ( 44 % ) during 2009 , decreasing operating expenses by $ 1.3 billion compared to 2008 . cost savings from lower volume , productivity improvements , and better resource utilization also decreased operating expenses in 2009 . in addition , lower casualty expense resulting primarily from improving trends in safety performance decreased operating expenses in 2009 . conversely , wage and benefit inflation partially offset these reductions . compensation and benefits 2013 compensation and benefits include wages , payroll taxes , health and welfare costs , pension costs , other postretirement benefits , and incentive costs . general wage and benefit inflation increased costs by approximately $ 190 million in 2010 compared to 2009 . volume- related expenses and higher equity and incentive compensation also drove costs up during the year . workforce levels declined 1% ( 1 % ) in 2010 compared to 2009 as network efficiencies and ongoing productivity initiatives enabled us to effectively handle the 13% ( 13 % ) increase in volume levels with fewer employees . lower volume and productivity initiatives led to a 10% ( 10 % ) decline in our workforce in 2009 compared to 2008 , saving $ 516 million during the year . conversely , general wage and benefit inflation increased expenses , partially offsetting these savings . fuel 2013 fuel includes locomotive fuel and gasoline for highway and non-highway vehicles and heavy equipment . higher diesel fuel prices , which averaged $ 2.29 per gallon ( including taxes and transportation costs ) in 2010 compared to $ 1.75 per gallon in 2009 , increased expenses by $ 566 million . volume , as measured by gross ton-miles , increased 10% ( 10 % ) in 2010 versus 2009 , driving fuel expense up by $ 166 million . conversely , the use of newer , more fuel efficient locomotives , our fuel conservation programs and efficient network operations drove a 3% ( 3 % ) improvement in our fuel consumption rate in 2010 , resulting in $ 40 million of cost savings versus 2009 at the 2009 average fuel price . lower diesel fuel prices , which averaged $ 1.75 per gallon ( including taxes and transportation costs ) in 2009 compared to $ 3.15 per gallon in 2008 , reduced expenses by $ 1.3 billion in 2009 . volume , as measured by gross ton-miles , decreased 17% ( 17 % ) in 2009 , lowering expenses by $ 664 million compared to 2008 . our fuel consumption rate improved 4% ( 4 % ) in 2009 , resulting in $ 147 million of cost savings versus 2008 at the 2008 average fuel price . the consumption rate savings versus 2008 using the lower 2009 fuel price was $ 68 million . newer , more fuel efficient locomotives , reflecting locomotive acquisitions in recent years and the impact of a smaller fleet due to storage of some of our older locomotives ; increased use of 2010 operating expenses .
| string | null | fuel_price_2010 = 2.29
fuel_price_2009 = 1.75
increase = fuel_price_2010 - fuel_price_2009
percent_increase = increase / fuel_price_2009
answer = percent_increase * 100 |
what percentage of owned total highway revenue equipment is containers? | 64 | CodeFinQA | average age ( yrs. ) highway revenue equipment owned leased total .
| <i>Highway revenue equipment</i> | <i>Owned</i> | <i>Leased</i> | <i>Total</i> | <i>Average</i><i>Age (yrs.)</i> |
| :--- | :--- | :--- | :--- | :--- |
| Containers | 26,629 | 28,306 | 54,935 | 7.1 |
| Chassis | 15,182 | 25,951 | 41,133 | 8.9 |
| Total highway revenue equipment | 41,811 | 54,257 | 96,068 | 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. .
| string | null | containers_owned = 26629
containers_total = 41811
percent_owned = containers_owned / containers_total
answer = percent_owned * 100 |
what is the percentage of the acquisition-related costs among the total purchase price? | 9.1000003815 | CodeFinQA | 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 | $20,500 |
| Acquisition-related costs | 2,053 |
| Total purchase price | $22,553 |
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 .
| string | null | acquisition_cost = 2053
purchase_price = 22553
percent_acquisition = acquisition_cost / purchase_price
answer = percent_acquisition * 100 |
what is the highest return rate for the first year of the investment? | 21.4099998474 | CodeFinQA | 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 and the nasdaq industrial transportation index ( nqusb2770t ) . 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 12/31/2013 and tracks it through 12/31/2018 . 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 and the nasdaq industrial transportation index. .
| | 12/13 | 12/14 | 12/15 | 12/16 | 12/17 | 12/18 |
| :--- | :--- | :--- | :--- | :--- | :--- | :--- |
| Expeditors International of Washington, Inc. | $100.00 | $100.81 | $101.92 | $119.68 | $146.19 | $153.88 |
| Standard and Poor's 500 Index | 100.00 | 111.39 | 110.58 | 121.13 | 144.65 | 135.63 |
| NASDAQ Industrial Transportation (NQUSB2770T) | 100.00 | 121.41 | 93.55 | 120.89 | 154.19 | 140.25 |
the stock price performance included in this graph is not necessarily indicative of future stock price performance. .
| string | null | highest_return = 121.41 - 100
answer = highest_return |
what is the percentage change in the balance of total 201ceconomic 201d investment exposure from 2011 to 2012? | 14 | CodeFinQA | the company further presents total net 201ceconomic 201d investment exposure , net of deferred compensation investments and hedged investments , to reflect another gauge for investors as the economic impact of investments held pursuant to deferred compensation arrangements is substantially offset by a change in compensation expense and the impact of hedged investments is substantially mitigated by total return swap hedges . carried interest capital allocations are excluded as there is no impact to blackrock 2019s stockholders 2019 equity until such amounts are realized as performance fees . finally , the company 2019s regulatory investment in federal reserve bank stock , which is not subject to market or interest rate risk , is excluded from the company 2019s net economic investment exposure . ( dollar amounts in millions ) december 31 , december 31 .
| <i>(Dollar amounts in millions)</i> | December 31, 2012 | December 31, 2011 |
| :--- | :--- | :--- |
| Total investments, GAAP | $1,750 | $1,631 |
| Investments held by consolidated sponsored investmentfunds<sup>(1)</sup> | (524) | (587) |
| Net exposure to consolidated investment funds | 430 | 475 |
| Total investments, as adjusted | 1,656 | 1,519 |
| Federal Reserve Bank stock<sup>(2)</sup> | (89) | (328) |
| Carried interest | (85) | (21) |
| Deferred compensation investments | (62) | (65) |
| Hedged investments | (209) | (43) |
| Total “economic” investment exposure | $1,211 | $1,062 |
total 201ceconomic 201d investment exposure . . . $ 1211 $ 1062 ( 1 ) at december 31 , 2012 and december 31 , 2011 , approximately $ 524 million and $ 587 million , respectively , of blackrock 2019s total gaap investments were maintained in sponsored investment funds that were deemed to be controlled by blackrock in accordance with gaap , and , therefore , are consolidated even though blackrock may not economically own a majority of such funds . ( 2 ) the decrease of $ 239 million related to a lower holding requirement of federal reserve bank stock held by blackrock institutional trust company , n.a . ( 201cbtc 201d ) . total investments , as adjusted , at december 31 , 2012 increased $ 137 million from december 31 , 2011 , resulting from $ 765 million of purchases/capital contributions , $ 185 million from positive market valuations and earnings from equity method investments , and $ 64 million from net additional carried interest capital allocations , partially offset by $ 742 million of sales/maturities and $ 135 million of distributions representing return of capital and return on investments. .
| string | null | investment_2012 = 1211
investment_2011 = 1062
difference = investment_2012 - investment_2011
percent_change = difference / investment_2011
answer = percent_change * 100 |
what was the sum of the cumulative translation adjustments from 2004 to 2006 | 34 | CodeFinQA | eastman notes to the audited consolidated financial statements accumulated other comprehensive income ( loss ) ( dollars in millions ) cumulative translation adjustment unfunded additional minimum pension liability unrecognized loss and prior service cost , net of unrealized gains ( losses ) on cash flow hedges unrealized losses on investments accumulated comprehensive income ( loss ) balance at december 31 , 2004 155 ( 248 ) -- ( 8 ) ( 2 ) ( 103 ) .
| (Dollars in millions) | Cumulative Translation Adjustment$ | UnfundedAdditionalMinimum Pension Liability$ | Unrecognized Loss and Prior Service Cost, net of taxes$ | Unrealized Gains (Losses) on Cash Flow Hedges$ | Unrealized Losses on Investments$ | Accumulated Other Comprehensive Income (Loss)$ |
| :--- | :--- | :--- | :--- | :--- | :--- | :--- |
| Balance at December 31, 2004 | 155 | (248) | -- | (8) | (2) | (103) |
| Period change | (94) | (7) | -- | 3 | 1 | (97) |
| Balance at December 31, 2005 | 61 | (255) | -- | (5) | (1) | (200) |
| Period change | 60 | 48 | -- | (1) | -- | 107 |
| Pre-SFAS No. 158 balance at December 31, 2006 | 121 | (207) | -- | (6) | (1) | (93) |
| Adjustments to apply SFAS No. 158 | -- | 207 | (288) | -- | -- | (81) |
| Balance at December 31, 2006 | 121 | -- | (288) | (6) | (1) | (174) |
pre-sfas no . 158 balance at december 31 , 2006 121 ( 207 ) -- ( 6 ) ( 1 ) ( 93 ) adjustments to apply sfas no . 158 -- 207 ( 288 ) -- -- ( 81 ) balance at december 31 , 2006 121 -- ( 288 ) ( 6 ) ( 1 ) ( 174 ) except for cumulative translation adjustment , amounts of other comprehensive income ( loss ) are presented net of applicable taxes . because cumulative translation adjustment is considered a component of permanently invested , unremitted earnings of subsidiaries outside the united states , no taxes are provided on such amounts . 15 . share-based compensation plans and awards 2002 omnibus long-term compensation plan eastman's 2002 omnibus long-term compensation plan provides for grants to employees of nonqualified stock options , incentive stock options , tandem and freestanding stock appreciation rights ( 201csar 2019s 201d ) , performance shares and various other stock and stock-based awards . the 2002 omnibus plan provides that options can be granted through may 2 , 2007 , for the purchase of eastman common stock at an option price not less than 100 percent of the per share fair market value on the date of the stock option's grant . there is a maximum of 7.5 million shares of common stock available for option grants and other awards during the term of the 2002 omnibus plan . director long-term compensation plan eastman's 2002 director long-term compensation plan provides for grants of nonqualified stock options and restricted shares to nonemployee members of the board of directors . shares of restricted stock are granted upon the first day of the directors' initial term of service and nonqualified stock options and shares of restricted stock are granted each year following the annual meeting of stockholders . the 2002 director plan provides that options can be granted through the later of may 1 , 2007 , or the date of the annual meeting of stockholders in 2007 for the purchase of eastman common stock at an option price not less than the stock's fair market value on the date of the grant. .
| string | null | cumulative_translation_adjustment = -94
total_adjustment = cumulative_translation_adjustment + 60
answer = total_adjustment |
what portion of total obligations is related to operating lease commitments as of march 31 , 2008? | 45.4000015259 | CodeFinQA | 97% ( 97 % ) of its carrying value . the columbia fund is being liquidated with distributions to us occurring and expected to be fully liquidated during calendar 2008 . since december 2007 , we have received disbursements of approximately $ 20.7 million from the columbia fund . our operating activities during the year ended march 31 , 2008 used cash of $ 28.9 million as compared to $ 19.8 million during the same period in the prior year . our fiscal 2008 net loss of $ 40.9 million was the primary cause of our cash use from operations , attributed to increased investments in our global distribution as we continue to drive initiatives to increase recovery awareness as well as our investments in research and development to broaden our circulatory care product portfolio . in addition , our inventories used cash of $ 11.1 million during fiscal 2008 , reflecting our inventory build-up to support anticipated increases in global demand for our products and our accounts receivable also increased as a result of higher sales volume resulting in a use of cash of $ 2.8 million in fiscal 2008 . these decreases in cash were partially offset by an increase in accounts payable and accrued expenses of $ 5.6 million , non-cash adjustments of $ 5.4 million related to stock-based compensation expense , $ 6.1 million of depreciation and amortization and $ 5.0 million for the change in fair value of worldheart note receivable and warrant . our investing activities during the year ended march 31 , 2008 used cash of $ 40.9 million as compared to cash provided by investing activities of $ 15.1 million during the year ended march 31 , 2007 . cash used by investment activities for fiscal 2008 consisted primarily of $ 49.3 million for the recharacterization of the columbia fund to short-term marketable securities , $ 17.1 million for the purchase of short-term marketable securities , $ 3.8 million related to expenditures for property and equipment and $ 5.0 million for note receivable advanced to worldheart . these amounts were offset by $ 34.5 million of proceeds from short-term marketable securities . in june 2008 , we received 510 ( k ) clearance of our impella 2.5 , triggering an obligation to pay $ 5.6 million of contingent payments in accordance with the may 2005 acquisition of impella . these contingent payments may be made , at our option , with cash , or stock or by a combination of cash or stock under circumstances described in the purchase agreement . it is our intent to satisfy this contingent payment through the issuance of shares of our common stock . our financing activities during the year ended march 31 , 2008 provided cash of $ 2.1 million as compared to cash provided by financing activities of $ 66.6 million during the same period in the prior year . cash provided by financing activities for fiscal 2008 is comprised primarily of $ 2.8 million attributable to the exercise of stock options , $ 0.9 million related to the proceeds from the issuance of common stock , $ 0.3 million related to proceeds from the employee stock purchase plan , partially offset by $ 1.9 million related to the repurchase of warrants . the $ 64.5 million decrease compared to the prior year is primarily due to $ 63.6 million raised from the public offering in fiscal 2007 . we disbursed approximately $ 2.2 million of cash for the warrant repurchase and settlement of certain litigation . capital expenditures for fiscal 2009 are estimated to be approximately $ 3.0 to $ 6.0 million . contractual obligations and commercial commitments the following table summarizes our contractual obligations at march 31 , 2008 and the effects such obligations are expected to have on our liquidity and cash flows in future periods . payments due by fiscal year ( in $ 000 2019s ) contractual obligations total than 1 than 5 .
| | Payments Due By Fiscal Year (in $000’s) |
| :--- | :--- |
| Contractual Obligations | Total | Less than 1 Year | 1-3 Years | 3-5 Years | More than 5 Years |
| Operating Lease Commitments | $7,754 | $2,544 | $3,507 | $1,703 | $— |
| Contractual Obligations | 9,309 | 7,473 | 1,836 | — | — |
| Total Obligations | $17,063 | $10,017 | $5,343 | $1,703 | $— |
we have no long-term debt , capital leases or other material commitments , for open purchase orders and clinical trial agreements at march 31 , 2008 other than those shown in the table above . in may 2005 , we acquired all the shares of outstanding capital stock of impella cardiosystems ag , a company headquartered in aachen , germany . the aggregate purchase price excluding a contingent payment in the amount of $ 5.6 million made on january 30 , 2007 in the form of common stock , was approximately $ 45.1 million , which consisted of $ 42.2 million of our common stock , $ 1.6 million of cash paid to certain former shareholders of impella and $ 1.3 million of transaction costs , consisting primarily of fees paid for financial advisory and legal services . we may make additional contingent payments to impella 2019s former shareholders based on additional milestone payments related to fda approvals in the amount of up to $ 11.2 million . in june 2008 we received 510 ( k ) clearance of our impella 2.5 , triggering an obligation to pay $ 5.6 million of contingent payments . these contingent payments may be made , at our option , with cash , or stock or by a combination of cash or stock under circumstances described in the purchase agreement , except that approximately $ 1.8 million of these contingent payments must be made in cash . the payment of any contingent payments will result in an increase to the carrying value of goodwill . we apply the disclosure provisions of fin no . 45 , guarantor 2019s accounting and disclosure requirements for guarantees , including guarantees of indebtedness of others , and interpretation of fasb statements no . 5 , 57 and 107 and rescission of fasb interpretation .
| string | null | commitments_2008 = 7754
obligations_total = 17063
percent_2008 = commitments_2008 / obligations_total
answer = percent_2008 * 100 |
what is the average net rentals for 2013-2014 , in millions? | 12.1000003815 | CodeFinQA | kimco realty corporation and subsidiaries notes to consolidated financial statements , continued during 2012 , the albertsons joint venture distributed $ 50.3 million of which the company received $ 6.9 million , which was recognized as income from cash received in excess of the company 2019s investment , before income tax , and is included in equity in income from other real estate investments , net on the company 2019s consolidated statements of income . in january 2015 , the company invested an additional $ 85.3 million of new equity in the company 2019s albertsons joint venture to facilitate the acquisition of safeway inc . by the cerberus lead consortium . as a result , kimco now holds a 9.8% ( 9.8 % ) ownership interest in the combined company which operates 2230 stores across 34 states . leveraged lease - during june 2002 , the company acquired a 90% ( 90 % ) equity participation interest in an existing leveraged lease of 30 properties . the properties are leased under a long-term bond-type net lease whose primary term expires in 2016 , with the lessee having certain renewal option rights . the company 2019s cash equity investment was $ 4.0 million . this equity investment is reported as a net investment in leveraged lease in accordance with the fasb 2019s lease guidance . as of december 31 , 2014 , 19 of these properties were sold , whereby the proceeds from the sales were used to pay down $ 32.3 million in mortgage debt and the remaining 11 properties remain encumbered by third-party non-recourse debt of $ 11.2 million that is scheduled to fully amortize during the primary term of the lease from a portion of the periodic net rents receivable under the net lease . as an equity participant in the leveraged lease , the company has no recourse obligation for principal or interest payments on the debt , which is collateralized by a first mortgage lien on the properties and collateral assignment of the lease . accordingly , this obligation has been offset against the related net rental receivable under the lease . at december 31 , 2014 and 2013 , the company 2019s net investment in the leveraged lease consisted of the following ( in millions ) : .
| | 2014 | 2013 |
| :--- | :--- | :--- |
| Remaining net rentals | $8.3 | $15.9 |
| Estimated unguaranteed residual value | 30.3 | 30.3 |
| Non-recourse mortgage debt | (10.1) | (16.1) |
| Unearned and deferred income | (12.9) | (19.9) |
| Net investment in leveraged lease | $15.6 | $10.2 |
9 . variable interest entities : consolidated ground-up development projects included within the company 2019s ground-up development projects at december 31 , 2014 , is an entity that is a vie , for which the company is the primary beneficiary . this entity was established to develop real estate property to hold as a long-term investment . the company 2019s involvement with this entity is through its majority ownership and management of the property . this entity was deemed a vie primarily based on the fact that the equity investment at risk is not sufficient to permit the entity to finance its activities without additional financial support . the initial equity contributed to this entity was not sufficient to fully finance the real estate construction as development costs are funded by the partners throughout the construction period . the company determined that it was the primary beneficiary of this vie as a result of its controlling financial interest . at december 31 , 2014 , total assets of this ground-up development vie were $ 77.7 million and total liabilities were $ 0.1 million . the classification of these assets is primarily within real estate under development in the company 2019s consolidated balance sheets and the classifications of liabilities are primarily within accounts payable and accrued expenses on the company 2019s consolidated balance sheets . substantially all of the projected development costs to be funded for this ground-up development vie , aggregating $ 32.8 million , will be funded with capital contributions from the company and by the outside partners , when contractually obligated . the company has not provided financial support to this vie that it was not previously contractually required to provide. .
| string | null | net_rentals_2014 = 8.3
net_rentals_2013 = 15.9
average_net_rentals = (net_rentals_2014 + net_rentals_2013) / 2
answer = average_net_rentals |
what is the expected percentage change in rent expense and certain office equipment expense from 2017 to 2018? | 4.9000000954 | CodeFinQA | future payments that will not be paid because of an early redemption , which is discounted at a fixed spread over a comparable treasury security . the unamortized discount and debt issuance costs are being amortized over the remaining term of the 2022 notes . 2021 notes . in may 2011 , 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 4.25% ( 4.25 % ) notes maturing in may 2021 and $ 750 million of floating rate notes , which were repaid in may 2013 at maturity . net proceeds of this offering were used to fund the repurchase of blackrock 2019s series b preferred from affiliates of merrill lynch & co. , inc . interest on the 4.25% ( 4.25 % ) notes due in 2021 ( 201c2021 notes 201d ) is payable semi-annually on may 24 and november 24 of each year , which commenced november 24 , 2011 , and is approximately $ 32 million per year . the 2021 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 2021 notes . 2019 notes . in december 2009 , the company issued $ 2.5 billion in aggregate principal amount of unsecured and unsubordinated obligations . these notes were issued as three separate series of senior debt securities including $ 0.5 billion of 2.25% ( 2.25 % ) notes , which were repaid in december 2012 , $ 1.0 billion of 3.50% ( 3.50 % ) notes , which were repaid in december 2014 at maturity , and $ 1.0 billion of 5.0% ( 5.0 % ) notes maturing in december 2019 ( the 201c2019 notes 201d ) . net proceeds of this offering were used to repay borrowings under the cp program , which was used to finance a portion of the acquisition of barclays global investors from barclays on december 1 , 2009 , and for general corporate purposes . interest on the 2019 notes of approximately $ 50 million per year is payable semi-annually in arrears on june 10 and december 10 of each year . these 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 2019 notes . 2017 notes . in september 2007 , the company issued $ 700 million in aggregate principal amount of 6.25% ( 6.25 % ) senior unsecured and unsubordinated notes maturing on september 15 , 2017 ( the 201c2017 notes 201d ) . a portion of the net proceeds of the 2017 notes was used to fund the initial cash payment for the acquisition of the fund-of-funds business of quellos and the remainder was used for general corporate purposes . interest is payable semi-annually in arrears on march 15 and september 15 of each year , or approximately $ 44 million per year . the 2017 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 2017 notes . 13 . commitments and contingencies operating lease commitments the company leases its primary office spaces under agreements that expire through 2035 . future minimum commitments under these operating leases are as follows : ( in millions ) .
| Year | Amount |
| :--- | :--- |
| 2017 | 142 |
| 2018 | 135 |
| 2019 | 125 |
| 2020 | 120 |
| 2021 | 112 |
| Thereafter | 404 |
| Total | $1,038 |
rent expense and certain office equipment expense under lease agreements amounted to $ 134 million , $ 136 million and $ 132 million in 2016 , 2015 and 2014 , respectively . investment commitments . at december 31 , 2016 , the company had $ 192 million of various capital commitments to fund sponsored investment funds , including consolidated vies . these funds include private equity funds , real assets funds , and opportunistic funds . this amount excludes additional commitments made by consolidated funds of funds to underlying third-party funds as third-party noncontrolling interest holders have the legal obligation to fund the respective commitments of such funds of funds . in addition to the capital commitments of $ 192 million , the company had approximately $ 12 million of contingent commitments for certain funds which have investment periods that have expired . generally , the timing of the funding of these commitments is unknown and the commitments are callable on demand at any time prior to the expiration of the commitment . these unfunded commitments are not recorded on the consolidated statements of financial condition . these commitments do not include potential future commitments approved by the company that are not yet legally binding . the company intends to make additional capital commitments from time to time to fund additional investment products for , and with , its clients . contingencies contingent payments related to business acquisitions . in connection with certain acquisitions , blackrock is required to make contingent payments , subject to achieving specified performance targets , which may include revenue related to acquired contracts or new capital commitments for certain products . the fair value of the remaining aggregate contingent payments at december 31 , 2016 totaled $ 115 million and is included in other liabilities on the consolidated statement of financial condition . other contingent payments . the company acts as the portfolio manager in a series of derivative transactions and has a maximum potential exposure of $ 17 million between the company and counterparty . see note 7 , derivatives and hedging , for further discussion . legal proceedings . from time to time , blackrock receives subpoenas or other requests for information from various u.s . federal , state governmental and domestic and international regulatory authorities in connection with .
| string | null | expected_rent_expense_change = 135
rent_expense_2016 = 142
decrease = expected_rent_expense_change - rent_expense_2016
percent_decrease = decrease / rent_expense_2016
answer = percent_decrease * 100 |
what was the percent of the total capital expenditures we incurred in our cable segment in 2004 for recurring capital projects | 17 | CodeFinQA | management 2019s discussion and analysis of financial condition and results of operations comcast corporation and subsidiaries28 comcast corporation and subsidiaries the exchangeable notes varies based upon the fair market value of the security to which it is indexed . the exchangeable notes are collateralized by our investments in cablevision , microsoft and vodafone , respectively . the comcast exchangeable notes are collateralized by our class a special common stock held in treasury . we have settled and intend in the future to settle all of the comcast exchangeable notes using cash . during 2004 and 2003 , we settled an aggregate of $ 847 million face amount and $ 638 million face amount , respectively , of our obligations relating to our notes exchangeable into comcast stock by delivering cash to the counterparty upon maturity of the instruments , and the equity collar agreements related to the underlying shares expired or were settled . during 2004 and 2003 , we settled $ 2.359 billion face amount and $ 1.213 billion face amount , respectively , of our obligations relating to our exchangeable notes by delivering the underlying shares of common stock to the counterparty upon maturity of the investments . as of december 31 , 2004 , our debt includes an aggregate of $ 1.699 billion of exchangeable notes , including $ 1.645 billion within current portion of long-term debt . as of december 31 , 2004 , the securities we hold collateralizing the exchangeable notes were sufficient to substantially satisfy the debt obligations associated with the outstanding exchangeable notes . stock repurchases . during 2004 , under our board-authorized , $ 2 billion share repurchase program , we repurchased 46.9 million shares of our class a special common stock for $ 1.328 billion . we expect such repurchases to continue from time to time in the open market or in private transactions , subject to market conditions . refer to notes 8 and 10 to our consolidated financial statements for a discussion of our financing activities . investing activities net cash used in investing activities from continuing operations was $ 4.512 billion for the year ended december 31 , 2004 , and consists primarily of capital expenditures of $ 3.660 billion , additions to intangible and other noncurrent assets of $ 628 million and the acquisition of techtv for approximately $ 300 million . capital expenditures . our most significant recurring investing activity has been and is expected to continue to be capital expendi- tures . the following table illustrates the capital expenditures we incurred in our cable segment during 2004 and expect to incur in 2005 ( dollars in millions ) : .
| | 2004 | 2005 |
| :--- | :--- | :--- |
| Deployment of cable modems, digital converters, and new service offerings | $2,106 | $2,300 |
| Upgrading of cable systems | 902 | 200 |
| Recurring capital projects | 614 | 500 |
| Total cable segment capital expenditures | $3,622 | $3,000 |
the amount of our capital expenditures for 2005 and for subsequent years will depend on numerous factors , some of which are beyond our control , including competition , changes in technology and the timing and rate of deployment of new services . additions to intangibles . additions to intangibles during 2004 primarily relate to our investment in a $ 250 million long-term strategic license agreement with gemstar , multiple dwelling unit contracts of approximately $ 133 million and other licenses and software intangibles of approximately $ 168 million . investments . proceeds from sales , settlements and restructurings of investments totaled $ 228 million during 2004 , related to the sales of our non-strategic investments , including our 20% ( 20 % ) interest in dhc ventures , llc ( discovery health channel ) for approximately $ 149 million . we consider investments that we determine to be non-strategic , highly-valued , or both to be a source of liquidity . we consider our investment in $ 1.5 billion in time warner common-equivalent preferred stock to be an anticipated source of liquidity . we do not have any significant contractual funding commitments with respect to any of our investments . refer to notes 6 and 7 to our consolidated financial statements for a discussion of our investments and our intangible assets , respectively . off-balance sheet arrangements we do not have any significant 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. .
| string | null | percent_2004 = 614 / 3622
answer = percent_2004 * 100 |
what percentage of non-cash impairment charges came from real estate under development? | 1.2000000477 | CodeFinQA | 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 | $175.1 |
( see notes 2 , 6 , 8 , 9 , 10 and 11 of the notes to consolidated financial statements included in this annual report on form 10-k. ) .
| string | null | impairment_2009 = 2.1
impairment_total = 175.1
percent_2009 = impairment_2009 / impairment_total
answer = percent_2009 * 100 |
what was the change in millions of research and development costs including depreciation of research facilities from 2016 to 2017? | 1 | CodeFinQA | 18 2018 ppg annual report and 10-k research and development .
| ($ in millions) | 2018 | 2017 | 2016 |
| :--- | :--- | :--- | :--- |
| Research and development costs, including depreciation of research facilities<sup>(a)</sup> | $464 | $472 | $473 |
| % of annual net sales | 3.0% | 3.2% | 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 .
| string | null | cost_2017 = 472
cost_2016 = 473
decrease = cost_2017 - cost_2016
answer = decrease |
how many more long future notional contracts mature by 2012 than short futures? | 1564 | CodeFinQA | table of contents valero energy corporation and subsidiaries notes to consolidated financial statements ( continued ) cash flow hedges cash flow hedges are used to hedge price volatility in certain forecasted feedstock and refined product purchases , refined product sales , and natural gas purchases . the objective of our cash flow hedges is to lock in the price of forecasted feedstock , product or natural gas purchases or refined product sales at existing market prices that we deem favorable . as of december 31 , 2011 , we had the following outstanding commodity derivative instruments that were entered into to hedge forecasted purchases or sales of crude oil and refined products . the information presents the notional volume of outstanding contracts by type of instrument and year of maturity ( volumes in thousands of barrels ) . notional contract volumes by year of maturity derivative instrument 2012 .
| Derivative Instrument | Notional Contract Volumes by Year of Maturity 2012 |
| :--- | :--- |
| Crude oil and refined products: | |
| Swaps – long | 5,961 |
| Swaps – short | 5,961 |
| Futures – long | 38,201 |
| Futures – short | 36,637 |
| Physical contracts – short | 1,564 |
.
| string | null | long_futures_2012 = 38201
short_futures_2012 = 36637
answer = long_futures_2012 - short_futures_2012 |
what percentage of total contractual obligations come from other operating leases? | 25.0400009155 | CodeFinQA | contractual obligations the company's significant contractual obligations as of december 31 , 2014 are summarized below: .
| | Payments Due by Period |
| :--- | :--- |
| (in thousands) | Total | Within 1 year | 2 – 3 years | 4 – 5 years | After 5 years |
| Global headquarters operating lease<sup>(1)</sup> | $49,415 | $4,278 | $8,556 | $8,556 | $28,025 |
| Other operating leases<sup>(2)</sup> | 29,838 | 10,397 | 12,100 | 4,603 | 2,738 |
| Unconditional purchase obligations<sup>(3)</sup> | 9,821 | 5,259 | 4,562 | — | — |
| Obligations related to uncertain tax positions, including interest and penalties<sup>(4)</sup> | 209 | 209 | — | — | — |
| Other long-term obligations<sup>(5)</sup> | 29,861 | 9,206 | 13,378 | 3,611 | 3,666 |
| Total contractual obligations | $119,144 | $29,349 | $38,596 | $16,770 | $34,429 |
( 1 ) on september 14 , 2012 , the company entered into a lease agreement for 186000 square feet of rentable space located in an office facility in canonsburg , pennsylvania , which serves as the company's new headquarters . the lease was effective as of september 14 , 2012 , but because the leased premises were under construction , the company was not obligated to pay rent until three months following the date that the leased premises were delivered to ansys , which occurred on october 1 , 2014 . the term of the lease is 183 months , beginning on october 1 , 2014 . the company shall have a one-time right to terminate the lease effective upon the last day of the tenth full year following the date of possession ( december 31 , 2024 ) , by providing the landlord with at least 18 months' prior written notice of such termination . the company's lease for its prior headquarters expired on december 31 , 2014 . ( 2 ) other operating leases primarily include noncancellable lease commitments for the company 2019s other domestic and international offices as well as certain operating equipment . ( 3 ) unconditional purchase obligations primarily include software licenses and long-term purchase contracts for network , communication and office maintenance services , which are unrecorded as of december 31 , 2014 . ( 4 ) the company has $ 17.3 million of unrecognized tax benefits , including estimated interest and penalties , that have been recorded as liabilities in accordance with income tax accounting guidance for which the company is uncertain as to if or when such amounts may be settled . as a result , such amounts are excluded from the table above . ( 5 ) other long-term obligations primarily include deferred compensation of $ 18.5 million ( including estimated imputed interest of $ 300000 within 1 year , $ 450000 within 2-3 years and $ 90000 within 4-5 years ) , pension obligations of $ 6.3 million for certain foreign locations of the company and contingent consideration of $ 2.8 million ( including estimated imputed interest of $ 270000 within 1 year and $ 390000 within 2-3 years ) . table of contents .
| string | null | other_leases = 29838
total_obligations = 119144
percent_other_leases = other_leases / total_obligations
answer = percent_other_leases * 100 |
what portion of total future minimum lease payments is due in the next 12 months? | 14.6000003815 | CodeFinQA | a lump sum buyout cost of approximately $ 1.1 million . total rent expense under these leases , included in the accompanying consolidated statements of operations , was approximately $ 893000 , $ 856000 and $ 823000 for the fiscal years ended march 31 , 2001 , 2002 and 2003 , respectively . during the fiscal year ended march 31 , 2000 , the company entered into 36-month operating leases totaling approximately $ 644000 for the lease of office furniture . these leases ended in fiscal year 2003 and at the company 2019s option the furniture was purchased at its fair market value . rental expense recorded for these leases during the fiscal years ended march 31 , 2001 , 2002 and 2003 was approximately $ 215000 , $ 215000 and $ 127000 respectively . during fiscal 2000 , the company entered into a 36-month capital lease for computer equipment and software for approximately $ 221000 . this lease ended in fiscal year 2003 and at the company 2019s option these assets were purchased at the stipulated buyout price . future minimum lease payments under all non-cancelable operating leases as of march 31 , 2003 are approximately as follows ( in thousands ) : .
| Year ending March 31, | Operating Leases |
| :--- | :--- |
| 2004 | $781 |
| 2005 | 776 |
| 2006 | 776 |
| 2007 | 769 |
| 2008 | 772 |
| Thereafter | 1,480 |
| Total future minimum lease payments | $5,354 |
from time to time , the company is involved in legal and administrative proceedings and claims of various types . while any litigation contains an element of uncertainty , management , in consultation with the company 2019s general counsel , presently believes that the outcome of each such other proceedings or claims which are pending or known to be threatened , or all of them combined , will not have a material adverse effect on the company . 7 . stock option and purchase plans all stock options granted by the company under the below-described plans were granted at the fair value of the underlying common stock at the date of grant . outstanding stock options , if not exercised , expire 10 years from the date of grant . the 1992 combination stock option plan ( the combination plan ) , as amended , was adopted in september 1992 as a combination and restatement of the company 2019s then outstanding incentive stock option plan and nonqualified plan . a total of 2670859 options were awarded from the combination plan during its ten-year restatement term that ended on may 1 , 2002 . as of march 31 , 2003 , 1286042 of these options remain outstanding and eligible for future exercise . these options are held by company employees and generally become exercisable ratably over five years . the 1998 equity incentive plan , ( the equity incentive plan ) , was adopted by the company in august 1998 . the equity incentive plan provides for grants of options to key employees , directors , advisors and consultants as either incentive stock options or nonqualified stock options as determined by the company 2019s board of directors . a maximum of 1000000 shares of common stock may be awarded under this plan . options granted under the equity incentive plan are exercisable at such times and subject to such terms as the board of directors may specify at the time of each stock option grant . options outstanding under the equity incentive plan have vesting periods of 3 to 5 years from the date of grant . the 2000 stock incentive plan , ( the 2000 plan ) , was adopted by the company in august 2000 . the 2000 plan provides for grants of options to key employees , directors , advisors and consultants to the company or its subsidiaries as either incentive or nonqualified stock options as determined by the company 2019s board of directors . up to 1400000 shares of common stock may be awarded under the 2000 plan and are exercisable at such times and subject to such terms as the board of directors may specify at the time of each stock option grant . options outstanding under the 2000 plan generally vested 4 years from the date of grant . the company has a nonqualified stock option plan for non-employee directors ( the directors 2019 plan ) . the directors 2019 plan , as amended , was adopted in july 1989 and provides for grants of options to purchase shares of the company 2019s common stock to non-employee directors of the company . up to 400000 shares of common stock may be awarded under the directors 2019 plan . options outstanding under the directors 2019 plan have vesting periods of 1 to 5 years from the date of grant . notes to consolidated financial statements ( continued ) march 31 , 2003 page 25 .
| string | null | percent_2004 = 781
percent_total = 5354
percent_2004_2008 = percent_2004 / percent_total
answer = percent_2004_2008 * 100 |
what percentage of total miles of track were switching and classification yard lines in 2013? | 18 | CodeFinQA | item 2 . properties we employ a variety of assets in the management and operation of our rail business . our rail network covers 23 states in the western two-thirds of the u.s . our rail network includes 31838 route miles . we own 26009 miles and operate on the remainder pursuant to trackage rights or leases . the following table describes track miles at december 31 , 2013 and 2012 . 2013 2012 .
| | <i>2013</i> | <i>2012</i> |
| :--- | :--- | :--- |
| Route | 31,838 | 31,868 |
| Other main line | 6,766 | 6,715 |
| Passing lines and turnouts | 3,167 | 3,124 |
| Switching and classification yard lines | 9,090 | 9,046 |
| Total miles | 50,861 | 50,753 |
headquarters building we maintain our headquarters in omaha , nebraska . the facility has 1.2 million square feet of space for approximately 4000 employees and is subject to a financing arrangement . harriman dispatching center the harriman dispatching center ( hdc ) , located in omaha , nebraska , is our primary dispatching facility . it is linked to regional dispatching and locomotive management facilities at various locations along our .
| string | null | track_miles_switched = 9090
total_miles = 50861
percent_switched = track_miles_switched / total_miles
answer = percent_switched * 100 |
what was the change in other income from 2010 to 2011 in millions? | 58 | CodeFinQA | maintenance and contract expenses incurred by our subsidiaries for external transportation services ) ; materials used to maintain the railroad 2019s lines , structures , and equipment ; costs of operating facilities jointly used by uprr and other railroads ; transportation and lodging for train crew employees ; trucking and contracting costs for intermodal containers ; leased automobile maintenance expenses ; and tools and supplies . expenses for contract services increased $ 103 million in 2012 versus 2011 , primarily due to increased demand for transportation services purchased by our logistics subsidiaries for their customers and additional costs for repair and maintenance of locomotives and freight cars . expenses for contract services increased $ 106 million in 2011 versus 2010 , driven by volume-related external transportation services incurred by our subsidiaries , and various other types of contractual services , including flood-related repairs , mitigation and improvements . volume-related crew transportation and lodging costs , as well as expenses associated with jointly owned operating facilities , also increased costs compared to 2010 . in addition , an increase in locomotive maintenance materials used to prepare a portion of our locomotive fleet for return to active service due to increased volume and additional capacity for weather related issues and warranty expirations increased expenses in 2011 . depreciation 2013 the majority of depreciation relates to road property , including rail , ties , ballast , and other track material . a higher depreciable asset base , reflecting ongoing capital spending , increased depreciation expense in 2012 compared to 2011 . a higher depreciable asset base , reflecting ongoing capital spending , increased depreciation expense in 2011 compared to 2010 . higher depreciation rates for rail and other track material also contributed to the increase . the higher rates , which became effective january 1 , 2011 , resulted primarily from increased track usage ( based on higher gross ton-miles in 2010 ) . equipment and other rents 2013 equipment and other rents expense primarily includes rental expense that the railroad pays for freight cars owned by other railroads or private companies ; freight car , intermodal , and locomotive leases ; and office and other rent expenses . increased automotive and intermodal shipments , partially offset by improved car-cycle times , drove an increase in our short-term freight car rental expense in 2012 . conversely , lower locomotive lease expense partially offset the higher freight car rental expense . costs increased in 2011 versus 2010 as higher short-term freight car rental expense and container lease expense offset lower freight car and locomotive lease expense . other 2013 other expenses include personal injury , freight and property damage , destruction of equipment , insurance , environmental , bad debt , state and local taxes , utilities , telephone and cellular , employee travel , computer software , and other general expenses . other costs in 2012 were slightly higher than 2011 primarily due to higher property taxes . despite continual improvement in our safety experience and lower estimated annual costs , personal injury expense increased in 2012 compared to 2011 , as the liability reduction resulting from historical claim experience was less than the reduction in 2011 . higher property taxes , casualty costs associated with destroyed equipment , damaged freight and property and environmental costs increased other costs in 2011 compared to 2010 . a one-time payment of $ 45 million in the first quarter of 2010 related to a transaction with csxi and continued improvement in our safety performance and lower estimated liability for personal injury , which reduced our personal injury expense year-over-year , partially offset increases in other costs . non-operating items millions 2012 2011 2010 % ( % ) change 2012 v 2011 % ( % ) change 2011 v 2010 .
| <i>Millions</i> | <i>2012</i> | <i>2011</i> | <i>2010</i> | <i>% Change 2012 v 2011</i> | <i>% Change 2011 v 2010</i> |
| :--- | :--- | :--- | :--- | :--- | :--- |
| Other income | $108 | $112 | $54 | (4)% | 107% |
| Interest expense | (535) | (572) | (602) | (6) | (5) |
| Income taxes | (2,375) | (1,972) | (1,653) | 20% | 19% |
other income 2013 other income decreased in 2012 versus 2011 due to lower gains from real estate sales and higher environmental costs associated with non-operating properties , partially offset by an interest payment from a tax refund. .
| string | null | other_income_change = 112 - 54
answer = other_income_change |
what is the roi of an investment in abiomed inc from march 2010 to march 2013? | 80.9000015259 | CodeFinQA | performance graph the following graph compares the yearly change in the cumulative total stockholder return for our last five full fiscal years , based upon the market price of our common stock , with the cumulative total return on a nasdaq composite index ( u.s . companies ) and a peer group , the nasdaq medical equipment-sic code 3840-3849 index , which is comprised of medical equipment companies , for that period . the performance graph assumes the investment of $ 100 on march 31 , 2010 in our common stock , the nasdaq composite index ( u.s . companies ) and the peer group index , and the reinvestment of any and all dividends. .
| | 3/31/2010 | 3/31/2011 | 3/31/2012 | 3/31/2013 | 3/31/2014 | 3/31/2015 |
| :--- | :--- | :--- | :--- | :--- | :--- | :--- |
| ABIOMED, Inc | 100 | 140.79 | 215.02 | 180.91 | 252.33 | 693.60 |
| Nasdaq Composite Index | 100 | 115.98 | 128.93 | 136.26 | 175.11 | 204.38 |
| Nasdaq Medical Equipment SIC Code 3840-3849 | 100 | 108.31 | 115.05 | 105.56 | 123.18 | 118.95 |
this graph is not 201csoliciting material 201d under regulation 14a or 14c of the rules promulgated under the securities exchange act of 1934 , is not deemed filed with the securities and exchange commission and is not to be incorporated by reference in any of our filings under the securities act of 1933 , as amended , or the exchange act whether made before or after the date hereof and irrespective of any general incorporation language in any such filing . transfer agent american stock transfer & trust company , 59 maiden lane , new york , ny 10038 , is our stock transfer agent. .
| string | null | initial_investment = 100
final_value = 180.91
answer = (final_value - initial_investment) / initial_investment * 100 |
in 2015 what was the profit margin before before depreciation and amortization | 44 | CodeFinQA | other operating and administrative expenses increased slightly in 2015 due to increased expenses asso- ciated with our larger film slate . other operating and administrative expenses increased in 2014 primarily due to the inclusion of fandango , which was previously presented in our cable networks segment . advertising , marketing and promotion expenses advertising , marketing and promotion expenses consist primarily of expenses associated with advertising for our theatrical releases and the marketing of our films on dvd and in digital formats . we incur significant marketing expenses before and throughout the release of a film in movie theaters . as a result , we typically incur losses on a film prior to and during the film 2019s exhibition in movie theaters and may not realize profits , if any , until the film generates home entertainment and content licensing revenue . the costs associated with producing and marketing films have generally increased in recent years and may continue to increase in the future . advertising , marketing and promotion expenses increased in 2015 primarily due to higher promotional costs associated with our larger 2015 film slate and increased advertising expenses for fandango . advertising , marketing and promotion expenses decreased in 2014 primarily due to fewer major film releases compared to theme parks segment results of operations year ended december 31 ( in millions ) 2015 2014 2013 % ( % ) change 2014 to 2015 % ( % ) change 2013 to 2014 .
| Year ended December 31 (in millions) | 2015 | 2014 | 2013 | % Change 2014 to 2015 | % Change 2013 to 2014 |
| :--- | :--- | :--- | :--- | :--- | :--- |
| Revenue | $3,339 | $2,623 | $2,235 | 27.3% | 17.3% |
| Operating costs and expenses | 1,875 | 1,527 | 1,292 | 22.8 | 18.1 |
| Operating income before depreciation and amortization | $1,464 | $1,096 | $943 | 33.5% | 16.3% |
operating income before depreciation and amortization $ 1464 $ 1096 $ 943 33.5% ( 33.5 % ) 16.3% ( 16.3 % ) theme parks segment 2013 revenue in 2015 , our theme parks segment revenue was generated primarily from ticket sales and guest spending at our universal theme parks in orlando , florida and hollywood , california , as well as from licensing and other fees . in november 2015 , nbcuniversal acquired a 51% ( 51 % ) interest in universal studios japan . guest spending includes in-park spending on food , beverages and merchandise . guest attendance at our theme parks and guest spending depend heavily on the general environment for travel and tourism , including consumer spend- ing on travel and other recreational activities . licensing and other fees relate primarily to our agreements with third parties that own and operate the universal studios singapore theme park , as well as from the universal studios japan theme park , to license the right to use the universal studios brand name and other intellectual property . theme parks segment revenue increased in 2015 and 2014 primarily due to increases in guest attendance and increases in guest spending at our orlando and hollywood theme parks . the increase in 2015 was pri- marily due to the continued success of our attractions , including the wizarding world of harry potter 2122 2014 diagon alley 2122 in orlando and the fast & furious 2122 2014 supercharged 2122 studio tour and the simpson 2019s springfield attraction in hollywood , both of which opened in 2015 . in addition , theme parks segment revenue in 2015 includes $ 169 million of revenue attributable to universal studios japan for the period from november 13 , 2015 to december 31 , 2015 . the increase in 2014 was primarily due to new attractions , such as the wizarding world of harry potter 2122 2014 diagon alley 2122 in orlando , which opened in july 2014 , and despicable me : minion mayhem in hollywood . 59 comcast 2015 annual report on form 10-k .
| string | null | revenue = 3339
operating_costs = 1875
operating_income = revenue - operating_costs
answer = operating_income / revenue * 100 |
what was the percentage increase in the carrying vale of the furniture and equipment from 2004 to 2005 | 8.3000001907 | CodeFinQA | value , which may be maturity , the company does not consider these investments to be other-than-temporarily impaired as of december 31 , 2005 and 2004 . gross realized gains and losses for 2005 were $ 15000 and $ 75000 , respectively . gross realized gains and losses for 2004 were $ 628000 and $ 205000 , respectively . gross realized gains for 2003 were $ 1249000 . there were no gross realized losses for 2003 . maturities stated are effective maturities . f . restricted cash at december 31 , 2005 and 2004 , the company held $ 41482000 and $ 49847000 , respectively , in restricted cash . at december 31 , 2005 and 2004 the balance was held in deposit with certain banks predominantly to collateralize conditional stand-by letters of credit in the names of the company's landlords pursuant to certain operating lease agreements . g . property and equipment property and equipment consist of the following at december 31 ( in thousands ) : depreciation expense for the years ended december 31 , 2005 , 2004 and 2003 was $ 26307000 , $ 28353000 and $ 27988000 respectively . in 2005 and 2004 , the company wrote off certain assets that were fully depreciated and no longer utilized . there was no effect on the company's net property and equipment . additionally , the company wrote off or sold certain assets that were not fully depreciated . the net loss on disposal of those assets was $ 344000 for 2005 and $ 43000 for 2004 . h . investments in accordance with the company's policy , as outlined in note b , "accounting policies" the company assessed its investment in altus pharmaceuticals , inc . ( "altus" ) , which it accounts for using the cost method , and determined that there had not been any adjustments to the fair values of that investment which would indicate a decrease in its fair value below the carrying value that would require the company to write down the investment basis of the asset , as of december 31 , 2005 and december 31 , 2004 . the company's cost basis carrying value in its outstanding equity and warrants of altus was $ 18863000 at december 31 , 2005 and 2004. .
| | 2005 | 2004 |
| :--- | :--- | :--- |
| Furniture and equipment | $98,387 | $90,893 |
| Leasehold improvements | 66,318 | 65,294 |
| Computers | 18,971 | 18,421 |
| Software | 18,683 | 16,411 |
| Total property and equipment, gross | 202,359 | 191,019 |
| Less accumulated depreciation and amortization | 147,826 | 126,794 |
| Total property and equipment, net | $54,533 | $64,225 |
.
| string | null | increase = 98387 - 90893
decrease = 66318 - 65294
percent_increase = increase / 90893
percent_decrease = decrease / 65294
answer = percent_increase * 100 |
what percentage of total highway revenue equipment leased is containers? | 49 | CodeFinQA | average highway revenue equipment owned leased total age ( yrs. ) .
| Highway revenue equipment | Owned | Leased | Total | Average Age (yrs.) |
| :--- | :--- | :--- | :--- | :--- |
| Containers | 33,633 | 25,998 | 59,631 | 8.0 |
| Chassis | 22,086 | 26,837 | 48,923 | 9.6 |
| Total highway revenue equipment | 55,719 | 52,835 | 108,554 | 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 . 2015 capital program 2013 during 2015 , our capital program totaled $ 4.3 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 , item 7. ) 2016 capital plan 2013 in 2016 , we expect our capital plan to be approximately $ 3.75 billion , which will include expenditures for ptc of approximately $ 375 million and may include non-cash investments . we may revise our 2016 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 2016 capital plan in management 2019s discussion and analysis of financial condition and results of operations 2013 2016 outlook , item 7. ) equipment encumbrances 2013 equipment with a carrying value of approximately $ 2.6 billion and $ 2.8 billion at december 31 , 2015 , and 2014 , 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. .
| string | null | leased_containers = 25998
total_leased = 52835
percent_containers = leased_containers / total_leased
answer = percent_containers * 100 |
what is the net change in the balance of level 3 investments assets during 2008? | 427 | CodeFinQA | a wholly-owned subsidiary of the company is a registered life insurance company that maintains separate account assets , representing segregated funds held for purposes of funding individual and group pension contracts , and equal and offsetting separate account liabilities . at decem - ber 31 , 2008 and 2007 , the level 3 separate account assets were approximately $ 4 and $ 12 , respectively . the changes in level 3 assets primarily relate to purchases , sales and gains/ ( losses ) . the net investment income and net gains and losses attributable to separate account assets accrue directly to the contract owner and are not reported as non-operating income ( expense ) on the consolidated statements of income . level 3 assets , which includes equity method investments or consolidated investments of real estate funds , private equity funds and funds of private equity funds are valued based upon valuations received from internal as well as third party fund managers . fair valuations at the underlying funds are based on a combination of methods which may include third-party independent appraisals and discounted cash flow techniques . direct investments in private equity companies held by funds of private equity funds are valued based on an assessment of each under - lying investment , incorporating evaluation of additional significant third party financing , changes in valuations of comparable peer companies and the business environment of the companies , among other factors . see note 2 for further detail on the fair value policies by the underlying funds . changes in level 3 assets measured at fair value on a recurring basis for the year ended december 31 , 2008 .
| | Investments | Other Assets |
| :--- | :--- | :--- |
| December 31, 2007 | $1,240 | $— |
| Realized and unrealized gains / (losses), net | (409) | (16) |
| Purchases, sales, other settlements and issuances, net | 11 | 2 |
| Net transfers in and/or out of Level 3 | (29) | 78 |
| December 31, 2008 | $813 | $64 |
| Total net (losses) for the period included in earnings attributable to the change in unrealized gains or (losses) relating to assets stillheld at the reporting date | $(366) | $(17) |
total net ( losses ) for the period included in earnings attributable to the change in unrealized gains or ( losses ) relating to assets still held at the reporting date $ ( 366 ) $ ( 17 ) realized and unrealized gains and losses recorded for level 3 assets are reported in non-operating income ( expense ) on the consolidated statements of income . non-controlling interest expense is recorded for consoli- dated investments to reflect the portion of gains and losses not attributable to the company . the company transfers assets in and/or out of level 3 as significant inputs , including performance attributes , used for the fair value measurement become observable . 6 . variable interest entities in the normal course of business , the company is the manager of various types of sponsored investment vehicles , including collateralized debt obligations and sponsored investment funds , that may be considered vies . the company receives management fees or other incen- tive related fees for its services and may from time to time own equity or debt securities or enter into derivatives with the vehicles , each of which are considered variable inter- ests . the company engages in these variable interests principally to address client needs through the launch of such investment vehicles . the vies are primarily financed via capital contributed by equity and debt holders . the company 2019s involvement in financing the operations of the vies is limited to its equity interests , unfunded capital commitments for certain sponsored investment funds and its capital support agreements for two enhanced cash funds . the primary beneficiary of a vie is the party that absorbs a majority of the entity 2019s expected losses , receives a major - ity of the entity 2019s expected residual returns or both as a result of holding variable interests . in order to determine whether the company is the primary beneficiary of a vie , management must make significant estimates and assumptions of probable future cash flows and assign probabilities to different cash flow scenarios . assumptions made in such analyses include , but are not limited to , market prices of securities , market interest rates , poten- tial credit defaults on individual securities or default rates on a portfolio of securities , gain realization , liquidity or marketability of certain securities , discount rates and the probability of certain other outcomes . vies in which blackrock is the primary beneficiary at december 31 , 2008 , the company was the primary beneficiary of three vies , which resulted in consolidation of three sponsored investment funds ( including two cash management funds and one private equity fund of funds ) . creditors of the vies do not have recourse to the credit of the company . during 2008 , the company determined it became the primary beneficiary of two enhanced cash management funds as a result of concluding that under various cash 177528_txt_59_96:layout 1 3/26/09 10:32 pm page 73 .
| string | null | level_3_assets_2008 = 813
level_3_assets_2007 = 1240
change = level_3_assets_2008 - level_3_assets_2007
answer = change |
what percentage of total minimum lease payments are operating leases as of december 31 , 2006? | 74 | CodeFinQA | depending upon our senior unsecured debt ratings . the facilities require the maintenance of a minimum net worth and a debt to net worth coverage ratio . at december 31 , 2006 , we were in compliance with these covenants . the facilities do not include any other financial restrictions , credit rating triggers ( other than rating-dependent pricing ) , or any other provision that could require the posting of collateral . in addition to our revolving credit facilities , we had $ 150 million in uncommitted lines of credit available , including $ 75 million that expires in march 2007 and $ 75 million expiring in may 2007 . neither of these lines of credit were used as of december 31 , 2006 . we must have equivalent credit available under our five-year facilities to draw on these $ 75 million lines . dividend restrictions 2013 we are subject to certain restrictions related to the payment of cash dividends to our shareholders due to minimum net worth requirements under the credit facilities referred to above . the amount of retained earnings available for dividends was $ 7.8 billion and $ 6.2 billion at december 31 , 2006 and 2005 , respectively . we do not expect that these restrictions will have a material adverse effect on our consolidated financial condition , results of operations , or liquidity . we declared dividends of $ 323 million in 2006 and $ 316 million in 2005 . shelf registration statement 2013 under a current shelf registration statement , we may issue any combination of debt securities , preferred stock , common stock , or warrants for debt securities or preferred stock in one or more offerings . at december 31 , 2006 , we had $ 500 million remaining for issuance under the current shelf registration statement . we have no immediate plans to issue any securities ; however , we routinely consider and evaluate opportunities to replace existing debt or access capital through issuances of debt securities under this shelf registration , and , therefore , we may issue debt securities at any time . 6 . leases we lease certain locomotives , freight cars , and other property . 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 , 2006 were as follows : millions of dollars operating leases capital leases .
| <i>Millions of Dollars</i> | <i>OperatingLeases</i> | Capital Leases |
| :--- | :--- | :--- |
| 2007 | $624 | $180 |
| 2008 | 546 | 173 |
| 2009 | 498 | 168 |
| 2010 | 456 | 148 |
| 2011 | 419 | 157 |
| Later Years | 2,914 | 1,090 |
| Total minimum lease payments | $5,457 | $1,916 |
| Amount representing interest | N/A | (680) |
| Present value of minimum lease payments | N/A | $1,236 |
rent expense for operating leases with terms exceeding one month was $ 798 million in 2006 , $ 728 million in 2005 , and $ 651 million in 2004 . 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. .
| string | null | total_leases = 5457 + 1916
operating_leases = 5457
capital_leases = 1916
percent_operating_leases = operating_leases / total_leases
answer = percent_operating_leases * 100 |
what percentage of total operating expenses was purchased services and materials in 2012? | 15 | CodeFinQA | operating expenses millions 2012 2011 2010 % ( % ) change 2012 v 2011 % ( % ) change 2011 v 2010 .
| <i>Millions</i> | <i>2012</i> | <i>2011</i> | <i>2010</i> | <i>% Change 2012 v 2011</i> | <i>% Change 2011 v 2010</i> |
| :--- | :--- | :--- | :--- | :--- | :--- |
| Compensation and benefits | $4,685 | $4,681 | $4,314 | -% | 9% |
| Fuel | 3,608 | 3,581 | 2,486 | 1 | 44 |
| Purchased services and materials | 2,143 | 2,005 | 1,836 | 7 | 9 |
| Depreciation | 1,760 | 1,617 | 1,487 | 9 | 9 |
| Equipment and other rents | 1,197 | 1,167 | 1,142 | 3 | 2 |
| Other | 788 | 782 | 719 | 1 | 9 |
| Total | $14,181 | $13,833 | $11,984 | 3% | 15% |
operating expenses increased $ 348 million in 2012 versus 2011 . depreciation , wage and benefit inflation , higher fuel prices and volume- related trucking services purchased by our logistics subsidiaries , contributed to higher expenses during the year . efficiency gains , volume related fuel savings ( 2% ( 2 % ) fewer gallons of fuel consumed ) and $ 38 million of weather related expenses in 2011 , which favorably affects the comparison , partially offset the cost increase . operating expenses increased $ 1.8 billion in 2011 versus 2010 . our fuel price per gallon rose 36% ( 36 % ) during 2011 , accounting for $ 922 million of the increase . wage and benefit inflation , volume-related costs , depreciation , and property taxes also contributed to higher expenses . expenses increased $ 20 million for costs related to the flooding in the midwest and $ 18 million due to the impact of severe heat and drought in the south , primarily texas . cost savings from productivity improvements and better resource utilization partially offset these increases . a $ 45 million one-time payment relating to a transaction with csx intermodal , inc ( csxi ) increased operating expenses during the first quarter of 2010 , which favorably affects the comparison of operating expenses in 2011 to those in 2010 . compensation and benefits 2013 compensation and benefits include wages , payroll taxes , health and welfare costs , pension costs , other postretirement benefits , and incentive costs . expenses in 2012 were essentially flat versus 2011 as operational improvements and cost reductions offset general wage and benefit inflation and higher pension and other postretirement benefits . in addition , weather related costs increased these expenses in 2011 . a combination of general wage and benefit inflation , volume-related expenses , higher training costs associated with new hires , additional crew costs due to speed restrictions caused by the midwest flooding and heat and drought in the south , and higher pension expense drove the increase during 2011 compared to 2010 . fuel 2013 fuel includes locomotive fuel and gasoline for highway and non-highway vehicles and heavy equipment . higher locomotive diesel fuel prices , which averaged $ 3.22 per gallon ( including taxes and transportation costs ) in 2012 , compared to $ 3.12 in 2011 , increased expenses by $ 105 million . volume , as measured by gross ton-miles , decreased 2% ( 2 % ) in 2012 versus 2011 , driving expense down . the fuel consumption rate was flat year-over-year . higher locomotive diesel fuel prices , which averaged $ 3.12 ( including taxes and transportation costs ) in 2011 , compared to $ 2.29 per gallon in 2010 , increased expenses by $ 922 million . in addition , higher gasoline prices for highway and non-highway vehicles also increased year-over-year . volume , as measured by gross ton-miles , increased 5% ( 5 % ) in 2011 versus 2010 , driving expense up by $ 122 million . 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 2012 operating expenses .
| string | null | percent_2012 = 2143 / 14181
answer = percent_2012 * 100 |
what is the roi of an investment in nasdaq composite index from march 2010 to march 2013? | 36.2999992371 | CodeFinQA | performance graph the following graph compares the yearly change in the cumulative total stockholder return for our last five full fiscal years , based upon the market price of our common stock , with the cumulative total return on a nasdaq composite index ( u.s . companies ) and a peer group , the nasdaq medical equipment-sic code 3840-3849 index , which is comprised of medical equipment companies , for that period . the performance graph assumes the investment of $ 100 on march 31 , 2010 in our common stock , the nasdaq composite index ( u.s . companies ) and the peer group index , and the reinvestment of any and all dividends. .
| | 3/31/2010 | 3/31/2011 | 3/31/2012 | 3/31/2013 | 3/31/2014 | 3/31/2015 |
| :--- | :--- | :--- | :--- | :--- | :--- | :--- |
| ABIOMED, Inc | 100 | 140.79 | 215.02 | 180.91 | 252.33 | 693.60 |
| Nasdaq Composite Index | 100 | 115.98 | 128.93 | 136.26 | 175.11 | 204.38 |
| Nasdaq Medical Equipment SIC Code 3840-3849 | 100 | 108.31 | 115.05 | 105.56 | 123.18 | 118.95 |
this graph is not 201csoliciting material 201d under regulation 14a or 14c of the rules promulgated under the securities exchange act of 1934 , is not deemed filed with the securities and exchange commission and is not to be incorporated by reference in any of our filings under the securities act of 1933 , as amended , or the exchange act whether made before or after the date hereof and irrespective of any general incorporation language in any such filing . transfer agent american stock transfer & trust company , 59 maiden lane , new york , ny 10038 , is our stock transfer agent. .
| string | null | index_value = 136.26
investment_amount = 100
answer = (index_value - investment_amount) / investment_amount * 100 |
how did the percentage of operating income related to smokeless product change from 2013 to 2014 relative the total operating income? | 9.8000001907 | CodeFinQA | 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% | 84.5% | 83.7% |
| Smokeless products | 13.4 | 12.2 | 12.5 |
| Wine | 1.7 | 1.4 | 1.4 |
| All other | (2.3) | 1.9 | 2.4 |
| Total | 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 .
| string | null | smokeless_2013 = 13.4
smokeless_2012 = 12.2
change = smokeless_2013 - smokeless_2012
percent_change = change / smokeless_2012
answer = percent_change * 100 |
what was the percentage decline in the operating earnings in 2007 of $ 37 million declined from $ 41 | 9.8000001907 | CodeFinQA | asian industrial packaging net sales for 2007 were $ 265 million compared with $ 180 million in 2006 . in 2005 , net sales were $ 105 million sub- sequent to international paper 2019s acquisition of a majority interest in this business in august 2005 . operating profits totaled $ 6 million in 2007 and $ 3 million in 2006 , compared with a loss of $ 4 million in consumer packaging demand and pricing for consumer packaging prod- ucts correlate closely with consumer spending and general economic activity . in addition to prices and volumes , major factors affecting the profitability of consumer packaging are raw material and energy costs , freight costs , manufacturing efficiency and product mix . consumer packaging net sales increased 12% ( 12 % ) compared with 2006 and 24% ( 24 % ) compared with 2005 . operating profits rose 15% ( 15 % ) from 2006 and 24% ( 24 % ) from 2005 levels . benefits from improved average sales price realizations ( $ 52 million ) , higher sales volumes for u.s . and european coated paperboard ( $ 9 million ) , favorable mill operations ( $ 14 million ) and contributions from international paper & sun cartonboard co. , ltd . acquired in 2006 ( $ 16 million ) , were partially offset by higher raw material and energy costs ( $ 53 million ) , an unfavorable mix of products sold ( $ 4 million ) , increased freight costs ( $ 5 million ) and other costs ( $ 3 million ) . consumer packaging in millions 2007 2006 2005 .
| <i>In millions</i> | 2007 | 2006 | 2005 |
| :--- | :--- | :--- | :--- |
| Sales | $3,015 | $2,685 | $2,435 |
| Operating Profit | $198 | $172 | $160 |
north american consumer packaging net sales were $ 2.4 billion in both 2007 and 2006 com- pared with $ 2.2 billion in 2005 . operating earnings of $ 143 million in 2007 improved from $ 129 million in 2006 and $ 121 million in 2005 . coated paperboard sales volumes increased in 2007 compared with 2006 , particularly for folding carton board , reflecting improved demand . average sales price realizations substantially improved in 2007 for both folding carton board and cup stock . the impact of the higher sales prices combined with improved manufacturing performance at our mills more than offset the negative effects of higher wood and energy costs . foodservice sales volumes were slightly higher in 2007 than in 2006 . average sales prices were also higher reflecting the realization of price increases implemented to recover raw material cost increases . in addition , a more favorable mix of hot cups and food containers led to higher average margins . raw material costs for bleached board and polystyrene were higher than in 2006 , but these increases were partially offset by improved manufacturing costs reflecting increased productivity and reduced waste . shorewood sales volumes in 2007 declined from 2006 levels due to weak demand in the home enter- tainment , tobacco and display markets , although demand was stronger in the consumer products segment . sales margins declined from 2006 reflect- ing a less favorable mix of products sold . raw material costs were higher for bleached board , but this impact was more than offset by improved manufacturing operations and lower operating costs . charges to restructure operations also impacted 2007 results . entering 2008 , coated paperboard sales volumes are expected to be about even with the fourth quarter of 2007 , while average sales price realizations are expected to slightly improve . earnings should bene- fit from fewer planned mill maintenance outages compared with the 2007 fourth quarter . however , costs for wood , polyethylene and energy are expected to be higher . foodservice results are expected to benefit from increased sales volumes and higher sales price realizations . shorewood sales volumes for the first quarter 2008 are expected to seasonally decline , but this negative impact should be partially offset by benefits from cost improve- ments associated with prior-year restructuring actions . european consumer packaging net sales in 2007 were $ 280 million compared with $ 230 million in 2006 and $ 190 million in 2005 . sales volumes in 2007 were higher than in 2006 reflecting stronger market demand and improved productivity at our kwidzyn mill . average sales price realizations also improved in 2007 . operating earnings in 2007 of $ 37 million declined from $ 41 million in 2006 and $ 39 million in 2005 . the additional contribution from higher net sales was more than offset by higher input costs for wood , energy and freight . entering 2008 , sales volumes and prices are expected to be comparable to the fourth quarter . machine performance and sales mix are expected to improve ; however , wood costs are expected to be higher , especially in russia due to strong demand ahead of tariff increases , and energy costs are anticipated to be seasonally higher. .
| string | null | operating_earnings_2007 = 37
operating_earnings_2006 = 41
change = operating_earnings_2007 - operating_earnings_2006
percent_change = change / operating_earnings_2006
answer = percent_change * 100 |
what was the ratio of the operating costs and expenses for cable communications compared to nbcuniversal in 2015 | 4.5999999046 | CodeFinQA | consolidated costs and expenses the following graph illustrates the contributions to the increases in consolidated operating costs and expenses by our cable communications and nbcuniversal segments , as well as our corporate and other activities . $ 43000 $ 44000 $ 45000 $ 46000 $ 47000 $ 48000 $ 50000 $ 49000 2013 2015cable communications segment nbcuniversal segments corporate and other 2014 cable communications segment nbcuniversal segments corporate and other $ 43223 $ 1397 $ 41 $ 49832 $ 310 $ 45852 $ 1731 $ 2208 our consolidated operating costs and expenses in 2015 included expenses associated with our broadcast of the 2015 super bowl and our larger film slate , both of which are included in our nbcuniversal segments . our consolidated operating costs and expenses in 2014 included expenses associated with our broadcast of the 2014 sochi olympics , which is reported in our nbcuniversal segments . our consolidated operating costs and expenses also included transaction-related costs associated with the time warner cable merger and the related divestiture transactions of $ 178 million and $ 237 million in 2015 and 2014 , respectively , which is included in corporate and other . on april 24 , 2015 , we and time warner cable inc . terminated our planned merger and we terminated our related agreement with charter communications , inc . to spin off , exchange and sell certain cable systems . operating costs and expenses for our segments is discussed separately below under the heading 201csegment operating results . 201d operating costs and expenses for our other businesses is discussed separately below under the heading 201ccorporate and other results of operations . 201d consolidated depreciation and amortization year ended december 31 ( in millions ) 2015 2014 2013 % ( % ) change 2014 to 2015 % ( % ) change 2013 to 2014 .
| Year ended December 31 (in millions) | 2015 | 2014 | 2013 | % Change 2014 to 2015 | % Change 2013 to 2014 |
| :--- | :--- | :--- | :--- | :--- | :--- |
| Cable Communications | $7,028 | $6,422 | $6,394 | 9.4% | 0.4% |
| NBCUniversal | 1,539 | 1,495 | 1,411 | 2.9 | 5.9 |
| Corporate and Other | 113 | 102 | 66 | 10.3 | 58.1 |
| Comcast Consolidated | $8,680 | $8,019 | $7,871 | 8.2% | 1.9% |
consolidated depreciation and amortization expenses increased in 2015 primarily due to increases in capital expenditures , as well as expenditures for software , in our cable communications segment in recent years . we continue to invest in customer premise equipment , primarily for our x1 platform , wireless gateways and cloud dvr technology , and in equipment to increase our network capacity . in addition , because these assets generally have shorter estimated useful lives , our depreciation expenses have increased , which we expect will 47 comcast 2015 annual report on form 10-k .
| string | null | cable_cost = 7028
nbc_cost = 1539
ratio = cable_cost / nbc_cost
answer = ratio |
what is the expected growth rate in operating leases in 2010 compare to 2009? | 12.6999998093 | CodeFinQA | abiomed , inc . and subsidiaries notes to consolidated financial statements 2014 ( continued ) note 15 . commitments and contingencies ( continued ) the company applies the disclosure provisions of fin no . 45 , guarantor 2019s accounting and disclosure requirements for guarantees , including guarantees of indebtedness of others , and interpretation of fasb statements no . 5 , 57 and 107 and rescission of fasb interpretation no . 34 ( fin no . 45 ) to its agreements that contain guarantee or indemnification clauses . these disclosure provisions expand those required by sfas no . 5 , accounting for contingencies , by requiring that guarantors disclose certain types of guarantees , even if the likelihood of requiring the guarantor 2019s performance is remote . in addition to product warranties , the following is a description of arrangements in which the company is a guarantor . indemnifications 2014in many sales transactions , the company indemnifies customers against possible claims of patent infringement caused by the company 2019s products . the indemnifications contained within sales contracts usually do not include limits on the claims . the company has never incurred any material costs to defend lawsuits or settle patent infringement claims related to sales transactions . under the provisions of fin no . 45 , intellectual property indemnifications require disclosure only . the company enters into agreements with other companies in the ordinary course of business , typically with underwriters , contractors , clinical sites and customers that include indemnification provisions . under these provisions the company generally indemnifies and holds harmless the indemnified party for losses suffered or incurred by the indemnified party as a result of its activities . these indemnification provisions generally survive termination of the underlying agreement . the maximum potential amount of future payments the company could be required to make under these indemnification provisions is unlimited . abiomed has never incurred any material costs to defend lawsuits or settle claims related to these indemnification agreements . as a result , the estimated fair value of these agreements is minimal . accordingly , the company has no liabilities recorded for these agreements as of march 31 , 2008 . clinical study agreements 2014in the company 2019s clinical study agreements , abiomed has agreed to indemnify the participating institutions against losses incurred by them for claims related to any personal injury of subjects taking part in the study to the extent they relate to uses of the company 2019s devices in accordance with the clinical study agreement , the protocol for the device and abiomed 2019s instructions . the indemnification provisions contained within the company 2019s clinical study agreements do not generally include limits on the claims . the company has never incurred any material costs related to the indemnification provisions contained in its clinical study agreements . facilities leases 2014as of march 31 , 2008 , the company had entered into leases for its facilities , including its primary operating facility in danvers , massachusetts with terms through fiscal 2010 . the danvers lease may be extended , at the company 2019s option , for two successive additional periods of five years each with monthly rent charges to be determined based on then current fair rental values . the company 2019s lease for its aachen location expires in december 2012 . total rent expense under these leases , included in the accompanying consolidated statements of operations approximated $ 2.2 million , $ 1.6 million , and $ 1.3 million for the fiscal years ended march 31 , 2008 , 2007 and 2006 , respectively . future minimum lease payments under all significant non-cancelable operating leases as of march 31 , 2008 are approximately as follows : fiscal year ending march 31 , operating leases ( in $ 000 2019s ) .
| Fiscal Year Ending March 31, | Operating Leases (in $000’s) |
| :--- | :--- |
| 2009 | 2,544 |
| 2010 | 2,220 |
| 2011 | 1,287 |
| 2012 | 973 |
| 2013 | 730 |
| Thereafter | — |
| Total future minimum lease payments | $7,754 |
litigation 2014from time-to-time , the company is involved in legal and administrative proceedings and claims of various types . while any litigation contains an element of uncertainty , management presently believes that the outcome of each such other proceedings or claims which are pending or known to be threatened , or all of them combined , is not expected to have a material adverse effect on the company 2019s financial position , cash flow and results. .
| string | null | operating_leases_2009 = 2544
operating_leases_2010 = 2220
growth_rate = (operating_leases_2010 - operating_leases_2009) / operating_leases_2009
answer = growth_rate * 100 |
what was the change in research and development net in millions from 2016 to 2017? | 2 | CodeFinQA | 52 2018 ppg annual report and 10-k 1 . summary of significant accounting policies principles of consolidation the accompanying consolidated financial statements include the accounts of ppg industries , inc . ( 201cppg 201d or the 201ccompany 201d ) and all subsidiaries , both u.s . and non-u.s. , that it controls . ppg owns more than 50% ( 50 % ) of the voting stock of most of the subsidiaries that it controls . for those consolidated subsidiaries in which the company 2019s ownership is less than 100% ( 100 % ) , the outside shareholders 2019 interests are shown as noncontrolling interests . investments in companies in which ppg owns 20% ( 20 % ) to 50% ( 50 % ) of the voting stock and has the ability to exercise significant influence over operating and financial policies of the investee are accounted for using the equity method of accounting . as a result , ppg 2019s share of income or losses from such equity affiliates is included in the consolidated statement of income and ppg 2019s share of these companies 2019 shareholders 2019 equity is included in investments on the consolidated balance sheet . transactions between ppg and its subsidiaries are eliminated in consolidation . use of estimates in the preparation of financial statements the preparation of financial statements in conformity with u.s . generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements , as well as the reported amounts of income and expenses during the reporting period . such estimates also include the fair value of assets acquired and liabilities assumed resulting from the allocation of the purchase price related to business combinations consummated . actual outcomes could differ from those estimates . revenue recognition revenue is recognized as performance obligations with the customer are satisfied , at an amount that is determined to be collectible . for the sale of products , this generally occurs at the point in time when control of the company 2019s products transfers to the customer based on the agreed upon shipping terms . shipping and handling costs amounts billed to customers for shipping and handling are reported in net sales in the consolidated statement of income . shipping and handling costs incurred by the company for the delivery of goods to customers are included in cost of sales , exclusive of depreciation and amortization in the consolidated statement of income . selling , general and administrative costs amounts presented in selling , general and administrative in the consolidated statement of income are comprised of selling , customer service , distribution and advertising costs , as well as the costs of providing corporate-wide functional support in such areas as finance , law , human resources and planning . distribution costs pertain to the movement and storage of finished goods inventory at company-owned and leased warehouses and other distribution facilities . advertising costs advertising costs are expensed as incurred and totaled $ 280 million , $ 313 million and $ 322 million in 2018 , 2017 and 2016 , respectively . research and development research and development costs , which consist primarily of employee related costs , are charged to expense as incurred. .
| ($ in millions) | 2018 | 2017 | 2016 |
| :--- | :--- | :--- | :--- |
| Research and development – total | $464 | $472 | $473 |
| Less depreciation on research facilities | 23 | 21 | 20 |
| Research and development, net | $441 | $451 | $453 |
legal costs legal costs , primarily include costs associated with acquisition and divestiture transactions , general litigation , environmental regulation compliance , patent and trademark protection and other general corporate purposes , are charged to expense as incurred . income taxes income taxes are accounted for under the asset and liability method . deferred tax assets and liabilities are recognized for the future tax consequences attributable to operating losses and tax credit carryforwards as well as differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases . the effect on deferred notes to the consolidated financial statements .
| string | null | change_in_rd_net = 451 - 453
answer = change_in_rd_net |
what was the average revenue in agriculture , in millions , from 2008-2010? | 3239.330078125 | CodeFinQA | average revenue per car 2010 2009 2008 % ( % ) change 2010 v 2009 % ( % ) change 2009 v 2008 .
| <i>Average Revenue per Car</i> | <i>2010</i> | <i>2009</i> | <i>2008</i> | <i>% Change</i> <i>2010 v 2009</i> | % Change 2009 v 2008 |
| :--- | :--- | :--- | :--- | :--- | :--- |
| Agricultural | $3,286 | $3,080 | $3,352 | 7% | (8)% |
| Automotive | 2,082 | 1,838 | 2,017 | 13 | (9) |
| Chemicals | 2,874 | 2,761 | 2,818 | 4 | (2) |
| Energy | 1,697 | 1,543 | 1,622 | 10 | (5) |
| Industrial Products | 2,461 | 2,388 | 2,620 | 3 | (9) |
| Intermodal | 974 | 896 | 955 | 9 | (6) |
| Average | $1,823 | $1,718 | $1,848 | 6% | (7)% |
agricultural products 2013 higher volume , fuel surcharges , and price improvements increased agricultural freight revenue in 2010 versus 2009 . increased shipments from the midwest to export ports in the pacific northwest combined with heightened demand in mexico drove higher corn and feed grain shipments in 2010 . increased corn and feed grain shipments into ethanol plants in california and idaho and continued growth in ethanol shipments also contributed to this increase . in 2009 , some ethanol plants temporarily ceased operations due to lower ethanol margins , which contributed to the favorable year-over-year comparison . in addition , strong export demand for u.s . wheat via the gulf ports increased shipments of wheat and food grains compared to 2009 . declines in domestic wheat and food shipments partially offset the growth in export shipments . new business in feed and animal protein shipments also increased agricultural shipments in 2010 compared to 2009 . lower volume and fuel surcharges decreased agricultural freight revenue in 2009 versus 2008 . price improvements partially offset these declines . lower demand in both export and domestic markets led to fewer shipments of corn and feed grains , down 11% ( 11 % ) in 2009 compared to 2008 . weaker worldwide demand also reduced export shipments of wheat and food grains in 2009 versus 2008 . automotive 2013 37% ( 37 % ) and 24% ( 24 % ) increases in shipments of finished vehicles and automotive parts in 2010 , respectively , combined with core pricing gains and fuel surcharges , improved automotive freight revenue from relatively weak 2009 levels . economic conditions in 2009 led to poor auto sales and reduced vehicle production , which in turn reduced shipments of finished vehicles and parts during the declines in shipments of finished vehicles and auto parts and lower fuel surcharges reduced freight revenue in 2009 compared to 2008 . vehicle shipments were down 35% ( 35 % ) and parts were down 24% ( 24 % ) . core pricing gains partially offset these declines . these volume declines resulted from economic conditions that reduced sales and vehicle production . in addition , two major domestic automotive manufacturers declared bankruptcy in the second quarter of 2009 , affecting production levels . although the federal car allowance rebate system ( the 201ccash for clunkers 201d program ) helped stimulate vehicle sales and shipments in the third quarter of 2009 , production cuts and soft demand throughout the year more than offset the program 2019s benefits . 2010 agricultural revenue 2010 automotive revenue .
| string | null | revenue_2010 = 3286
revenue_2009 = 3080
revenue_2008 = 3352
total_revenue = revenue_2010 + revenue_2009 + revenue_2008
average_revenue = total_revenue / 3
answer = average_revenue |
what was the ratio of the comcast corporation finite-lived intangible assets in 2016 to 2017 | 1.1000000238 | CodeFinQA | comcast corporation finite-lived intangible assets estimated amortization expense of finite-lived intangible assets ( in millions ) .
| 2016 | $1,785 |
| :--- | :--- |
| 2017 | $1,612 |
| 2018 | $1,365 |
| 2019 | $1,039 |
| 2020 | $902 |
finite-lived intangible assets are subject to amortization and consist primarily of customer relationships acquired in business combinations , software , cable franchise renewal costs , contractual operating rights and intellectual property rights . our finite-lived intangible assets are amortized primarily on a straight-line basis over their estimated useful life or the term of the associated agreement . we capitalize direct development costs associated with internal-use software , including external direct costs of material and services and payroll costs for employees devoting time to these software projects . we also capitalize costs associated with the purchase of software licenses . we include these costs in other intangible assets and generally amortize them on a straight-line basis over a period not to exceed five years . we expense maintenance and training costs , as well as costs incurred during the preliminary stage of a project , as they are incurred . we capitalize initial operating system software costs and amortize them over the life of the associated hardware . we evaluate the recoverability of our finite-lived intangible assets whenever events or substantive changes in circumstances indicate that the carrying amount may not be recoverable . the evaluation is based on the cash flows generated by the underlying asset groups , including estimated future operating results , trends or other determinants of fair value . if the total of the expected future undiscounted cash flows were less than the carry- ing amount of the asset group , we would recognize an impairment charge to the extent the carrying amount of the asset group exceeded its estimated fair value . unless presented separately , the impairment charge is included as a component of amortization expense . 97 comcast 2015 annual report on form 10-k .
| string | null | ratio = 1785 / 1612
answer = ratio |
what is the identifiable intangible assets as a percent of total goodwill? | 41.6500015259 | CodeFinQA | synopsys , inc . notes to consolidated financial statements 2014continued acquired identifiable intangible assets of $ 107.3 million , resulting in total goodwill of $ 257.6 million . identifiable intangible assets are being amortized over three to eight years . acquisition-related costs directly attributable to the business combination were $ 6.6 million for fiscal 2012 and were expensed as incurred in the consolidated statements of operations . these costs consisted primarily of employee separation costs and professional services . acquisition of magma design automation , inc . ( magma ) on february 22 , 2012 , the company acquired magma , a chip design software provider , at a per- share price of $ 7.35 . additionally , the company assumed unvested restricted stock units ( rsus ) and stock options , collectively called 201cequity awards . 201d the aggregate purchase price was approximately $ 550.2 million . this acquisition enables the company to more rapidly meet the needs of leading-edge semiconductor designers for more sophisticated design tools . the company allocated the total purchase consideration of $ 550.2 million ( including $ 6.8 million related to equity awards assumed ) to the assets acquired and liabilities assumed based on their respective fair values at the acquisition date , including acquired identifiable intangible assets of $ 184.3 million , resulting in total goodwill of $ 316.3 million . identifiable intangible assets are being amortized over three to ten years . acquisition-related costs directly attributable to the business combination totaling $ 33.5 million for fiscal 2012 were expensed as incurred in the consolidated statements of operations and consist primarily of employee separation costs , contract terminations , professional services , and facilities closure costs . other fiscal 2012 acquisitions during fiscal 2012 , the company acquired five other companies , including emulation & verification engineering , s.a . ( eve ) , for cash and allocated the total purchase consideration of $ 213.2 million to the assets acquired and liabilities assumed based on their respective fair values , resulting in total goodwill of $ 118.1 million . acquired identifiable intangible assets totaling $ 73.3 million were valued using appropriate valuation methods such as income or cost methods and are being amortized over their respective useful lives ranging from one to eight years . during fiscal 2012 , acquisition-related costs totaling $ 6.8 million were expensed as incurred in the consolidated statements of operations . fiscal 2011 acquisitions during fiscal 2011 , the company completed two acquisitions for cash and allocated the total purchase consideration of $ 37.4 million to the assets and liabilities acquired based on their respective fair values at the acquisition date resulting in goodwill of $ 30.6 million . acquired identifiable intangible assets of $ 9.3 million are being amortized over two to ten years . note 4 . goodwill and intangible assets goodwill: .
| | (in thousands) |
| :--- | :--- |
| Balance at October 31, 2011 | $1,289,286 |
| Additions | 687,195 |
| Other adjustments(1) | 506 |
| Balance at October 31, 2012 | $1,976,987 |
| Additions | — |
| Other adjustments(1) | (1,016) |
| Balance at October 31, 2013 | $1,975,971 |
.
| string | null | identifiable_intangible_assets = 107.3
total_goodwill = 257.6
answer = identifiable_intangible_assets / total_goodwill * 100 |
what was the initial debt obligations balance in 2006 prior to the additional sales of international paper debt obligations for cash in billions | 0.400000006 | CodeFinQA | also during 2006 , the entities acquired approximately $ 4.8 billion of international paper debt obligations for cash , resulting in a total of approximately $ 5.2 billion of international paper debt obligations held by the entities at december 31 , 2006 . the various agreements entered into in connection with these transactions provide that international paper has , and intends to effect , a legal right to offset its obligation under these debt instruments with its investments in the entities . accordingly , for financial reporting purposes , international paper has offset approximately $ 5.2 billion of class b interests in the entities against $ 5.3 billion of international paper debt obligations held by these entities at december 31 , 2014 and 2013 . despite the offset treatment , these remain debt obligations of international paper . remaining borrowings of $ 50 million and $ 67 million at december 31 , 2014 and 2013 , respectively , are included in floating rate notes due 2014 2013 2019 in the summary of long-term debt in note 13 . additional debt related to the above transaction of $ 107 million and $ 79 million is included in short-term notes in the summary of long-term debt in note 13 at december 31 , 2014 and 2013 . the use of the above entities facilitated the monetization of the credit enhanced timber notes in a cost effective manner by increasing the borrowing capacity and lowering the interest rate , while providing for the offset accounting treatment described above . additionally , the monetization structure preserved the tax deferral that resulted from the 2006 forestlands sales . the company recognized a $ 1.4 billion deferred tax liability in connection with the 2006 forestlands sale , which will be settled with the maturity of the timber notes in the third quarter of 2016 ( unless extended ) . during 2011 and 2012 , the credit ratings for two letter of credit banks that support $ 1.5 billion of timber notes were downgraded below the specified threshold . these letters of credit were successfully replaced by other qualifying institutions . fees of $ 10 million were incurred during 2012 in connection with these replacements . during 2012 , an additional letter of credit bank that supports $ 707 million of timber notes was downgraded below the specified threshold . in december 2012 , the company and the third-party managing member agreed to a continuing replacement waiver for these letters of credit , terminable upon 30 days notice . activity between the company and the entities was as follows: .
| In millions | 2014 | 2013 | 2012 |
| :--- | :--- | :--- | :--- |
| Revenue (loss) (a) | $38 | $45 | $49 |
| Expense (a) | 72 | 79 | 90 |
| Cash receipts (b) | 22 | 33 | 36 |
| Cash payments (c) | 73 | 84 | 87 |
( a ) the net expense related to the company 2019s interest in the entities is included in interest expense , net in the accompanying consolidated statement of operations , as international paper has and intends to effect its legal right to offset as discussed above . ( b ) the cash receipts are equity distributions from the entities to international paper . ( c ) the semi-annual payments are related to interest on the associated debt obligations discussed above . based on an analysis of the entities discussed above under guidance that considers the potential magnitude of the variability in the structures and which party has a controlling financial interest , international paper determined that it is not the primary beneficiary of the entities , and therefore , should not consolidate its investments in these entities . it was also determined that the source of variability in the structure is the value of the timber notes , the assets most significantly impacting the structure 2019s economic performance . the credit quality of the timber notes is supported by irrevocable letters of credit obtained by third-party buyers which are 100% ( 100 % ) cash collateralized . international paper analyzed which party has control over the economic performance of each entity , and concluded international paper does not have control over significant decisions surrounding the timber notes and letters of credit and therefore is not the primary beneficiary . the company 2019s maximum exposure to loss equals the value of the timber notes ; however , an analysis performed by the company concluded the likelihood of this exposure is remote . international paper also held variable interests in financing entities that were used to monetize long-term notes received from the sale of forestlands in 2002 . international paper transferred notes ( the monetized notes , with an original maturity of 10 years from inception ) and cash of approximately $ 500 million to these entities in exchange for preferred interests , and accounted for the transfers as a sale of the notes with no associated gain or loss . in the same period , the entities acquired approximately $ 500 million of international paper debt obligations for cash . international paper has no obligation to make any further capital contributions to these entities and did not provide any financial support that was not previously contractually required during the years ended december 31 , 2014 , 2013 or 2012 . during 2012 , $ 252 million of the 2002 monetized notes matured . cash receipts upon maturity were used to pay the associated debt obligations . effective june 1 , 2012 , international paper liquidated its interest in the 2002 financing entities . in connection with the acquisition of temple-inland in february 2012 , two special purpose entities became wholly-owned subsidiaries of international paper. .
| string | null | initial_debt_obligations_balance = 5.2
additional_sales_of_international_paper_debt_obligations_for_cash = 4.8
answer = initial_debt_obligations_balance - additional_sales_of_international_paper_debt_obligations_for_cash |
what percent of total operating revenues in 2018 were industrial? | 25 | CodeFinQA | 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 , 201ccompany 201d , 201cupc 201d , 201cwe 201d , 201cus 201d , and 201cour 201d mean union pacific corporation and its subsidiaries , including union pacific railroad company , which will be separately referred to herein as 201cuprr 201d or the 201crailroad 201d . 1 . nature of operations operations and segmentation 2013 we are a class i railroad operating in the u.s . our network includes 32236 route miles , linking pacific coast and gulf coast ports with the midwest and eastern u.s . gateways and providing several corridors to key mexican gateways . we own 26039 miles and operate on the remainder pursuant to trackage rights or leases . we serve the western two-thirds of the country and maintain coordinated schedules with other rail carriers for the handling of freight to and from the atlantic coast , the pacific coast , the southeast , the southwest , canada , and mexico . export and import traffic is moved through gulf coast and pacific coast ports and across the mexican and canadian borders . the railroad , along with its subsidiaries and rail affiliates , is our one reportable operating segment . although we provide and analyze revenue by commodity group , we treat the financial results of the railroad as one segment due to the integrated nature of our rail network . our operating revenues are primarily derived from contracts with customers for the transportation of freight from origin to destination . effective january 1 , 2018 , the company reclassified its six commodity groups into four : agricultural products , energy , industrial , and premium . the following table represents a disaggregation of our freight and other revenues: .
| Millions | 2018 | 2017 | 2016 |
| :--- | :--- | :--- | :--- |
| Agricultural Products | $4,469 | $4,303 | $4,209 |
| Energy | 4,608 | 4,498 | 3,715 |
| Industrial | 5,679 | 5,204 | 4,964 |
| Premium | 6,628 | 5,832 | 5,713 |
| Total freight revenues | $21,384 | $19,837 | $18,601 |
| Other subsidiary revenues | 881 | 885 | 814 |
| Accessorial revenues | 502 | 458 | 455 |
| Other | 65 | 60 | 71 |
| Total operating revenues | $22,832 | $21,240 | $19,941 |
although our revenues are principally derived from customers domiciled in the u.s. , the ultimate points of origination or destination for some products we transport are outside the u.s . each of our commodity groups includes revenue from shipments to and from mexico . included in the above table are freight revenues from our mexico business which amounted to $ 2.5 billion in 2018 , $ 2.3 billion in 2017 , and $ 2.2 billion in 2016 . basis of presentation 2013 the consolidated financial statements are presented in accordance with accounting principles generally accepted in the u.s . ( gaap ) as codified in the financial accounting standards board ( fasb ) accounting standards codification ( asc ) . 2 . significant accounting policies principles of consolidation 2013 the consolidated financial statements include the accounts of union pacific corporation and all of its subsidiaries . investments in affiliated companies ( 20% ( 20 % ) to 50% ( 50 % ) owned ) are accounted for using the equity method of accounting . all intercompany transactions are eliminated . we currently have no less than majority-owned investments that require consolidation under variable interest entity requirements . cash , cash equivalents and restricted cash 2013 cash equivalents consist of investments with original maturities of three months or less . amounts included in restricted cash represent those required to be set aside by contractual agreement. .
| string | null | revenue_2018 = 5679
revenue_total = 22832
percent_industrial = revenue_2018 / revenue_total
answer = percent_industrial * 100 |
what is the net change in warranty liability during 2017? | 161 | CodeFinQA | 2017 form 10-k | 115 and $ 1088 million , respectively , were primarily comprised of loans to dealers , and the spc 2019s liabilities of $ 1106 million and $ 1087 million , respectively , were primarily comprised of commercial paper . the assets of the spc are not available to pay cat financial 2019s creditors . cat financial may be obligated to perform under the guarantee if the spc experiences losses . no loss has been experienced or is anticipated under this loan purchase agreement . cat financial is party to agreements in the normal course of business with selected customers and caterpillar dealers in which they commit to provide a set dollar amount of financing on a pre- approved basis . they also provide lines of credit to certain customers and caterpillar dealers , of which a portion remains unused as of the end of the period . commitments and lines of credit generally have fixed expiration dates or other termination clauses . it has been cat financial 2019s experience that not all commitments and lines of credit will be used . management applies the same credit policies when making commitments and granting lines of credit as it does for any other financing . cat financial does not require collateral for these commitments/ lines , but if credit is extended , collateral may be required upon funding . the amount of the unused commitments and lines of credit for dealers as of december 31 , 2017 and 2016 was $ 10993 million and $ 12775 million , respectively . the amount of the unused commitments and lines of credit for customers as of december 31 , 2017 and 2016 was $ 3092 million and $ 3340 million , respectively . our product warranty liability is determined by applying historical claim rate experience to the current field population and dealer inventory . generally , historical claim rates are based on actual warranty experience for each product by machine model/engine size by customer or dealer location ( inside or outside north america ) . specific rates are developed for each product shipment month and are updated monthly based on actual warranty claim experience. .
| (Millions of dollars) | 2017 | 2016 |
| :--- | :--- | :--- |
| Warranty liability, January 1 | $1,258 | $1,354 |
| Reduction in liability (payments) | (860) | (909) |
| Increase in liability (new warranties) | 1,021 | 813 |
| Warranty liability, December 31 | $1,419 | $1,258 |
22 . environmental and legal matters the company is regulated by federal , state and international environmental laws governing our use , transport and disposal of substances and control of emissions . in addition to governing our manufacturing and other operations , these laws often impact the development of our products , including , but not limited to , required compliance with air emissions standards applicable to internal combustion engines . we have made , and will continue to make , significant research and development and capital expenditures to comply with these emissions standards . we are engaged in remedial activities at a number of locations , often with other companies , pursuant to federal and state laws . when it is probable we will pay remedial costs at a site , and those costs can be reasonably estimated , the investigation , remediation , and operating and maintenance costs are accrued against our earnings . costs are accrued based on consideration of currently available data and information with respect to each individual site , including available technologies , current applicable laws and regulations , and prior remediation experience . where no amount within a range of estimates is more likely , we accrue the minimum . where multiple potentially responsible parties are involved , we consider our proportionate share of the probable costs . in formulating the estimate of probable costs , we do not consider amounts expected to be recovered from insurance companies or others . we reassess these accrued amounts on a quarterly basis . the amount recorded for environmental remediation is not material and is included in accrued expenses . we believe there is no more than a remote chance that a material amount for remedial activities at any individual site , or at all the sites in the aggregate , will be required . on january 7 , 2015 , the company received a grand jury subpoena from the u.s . district court for the central district of illinois . the subpoena requests documents and information from the company relating to , among other things , financial information concerning u.s . and non-u.s . caterpillar subsidiaries ( including undistributed profits of non-u.s . subsidiaries and the movement of cash among u.s . and non-u.s . subsidiaries ) . the company has received additional subpoenas relating to this investigation requesting additional documents and information relating to , among other things , the purchase and resale of replacement parts by caterpillar inc . and non-u.s . caterpillar subsidiaries , dividend distributions of certain non-u.s . caterpillar subsidiaries , and caterpillar sarl and related structures . on march 2-3 , 2017 , agents with the department of commerce , the federal deposit insurance corporation and the internal revenue service executed search and seizure warrants at three facilities of the company in the peoria , illinois area , including its former corporate headquarters . the warrants identify , and agents seized , documents and information related to , among other things , the export of products from the united states , the movement of products between the united states and switzerland , the relationship between caterpillar inc . and caterpillar sarl , and sales outside the united states . it is the company 2019s understanding that the warrants , which concern both tax and export activities , are related to the ongoing grand jury investigation . the company is continuing to cooperate with this investigation . the company is unable to predict the outcome or reasonably estimate any potential loss ; however , we currently believe that this matter will not have a material adverse effect on the company 2019s consolidated results of operations , financial position or liquidity . on march 20 , 2014 , brazil 2019s administrative council for economic defense ( cade ) published a technical opinion which named 18 companies and over 100 individuals as defendants , including two subsidiaries of caterpillar inc. , mge - equipamentos e servi e7os ferrovi e1rios ltda . ( mge ) and caterpillar brasil ltda . the publication of the technical opinion opened cade 2019s official administrative investigation into allegations that the defendants participated in anticompetitive bid activity for the construction and maintenance of metro and train networks in brazil . while companies cannot be .
| string | null | net_warranty_liability = 1419
warranty_liability_2016 = 1258
increase = net_warranty_liability - warranty_liability_2016
answer = increase |
what portion of the approved securities is to be issued upon exercise of outstanding options warrants rights? | 2.9000000954 | CodeFinQA | bhge 2017 form 10-k | 103 part iii item 10 . directors , executive officers and corporate governance information regarding our code of conduct , the spirit and the letter , and code of ethical conduct certificates for our principal executive officer , principal financial officer and principal accounting officer are described in item 1 . business of this annual report . information concerning our directors is set forth in the sections entitled "proposal no . 1 , election of directors - board nominees for directors" and "corporate governance - committees of the board" in our definitive proxy statement for the 2018 annual meeting of stockholders to be filed with the sec pursuant to the exchange act within 120 days of the end of our fiscal year on december 31 , 2017 ( "proxy statement" ) , which sections are incorporated herein by reference . for information regarding our executive officers , see "item 1 . business - executive officers of baker hughes" in this annual report on form 10-k . additional information regarding compliance by directors and executive officers with section 16 ( a ) of the exchange act is set forth under the section entitled "section 16 ( a ) beneficial ownership reporting compliance" in our proxy statement , which section is incorporated herein by reference . item 11 . executive compensation information for this item is set forth in the following sections of our proxy statement , which sections are incorporated herein by reference : "compensation discussion and analysis" "director compensation" "compensation committee interlocks and insider participation" and "compensation committee report." item 12 . security ownership of certain beneficial owners and management and related stockholder matters information concerning security ownership of certain beneficial owners and our management is set forth in the sections entitled "stock ownership of certain beneficial owners" and 201cstock ownership of section 16 ( a ) director and executive officers 201d ) in our proxy statement , which sections are incorporated herein by reference . we permit our employees , officers and directors to enter into written trading plans complying with rule 10b5-1 under the exchange act . rule 10b5-1 provides criteria under which such an individual may establish a prearranged plan to buy or sell a specified number of shares of a company's stock over a set period of time . any such plan must be entered into in good faith at a time when the individual is not in possession of material , nonpublic information . if an individual establishes a plan satisfying the requirements of rule 10b5-1 , such individual's subsequent receipt of material , nonpublic information will not prevent transactions under the plan from being executed . certain of our officers have advised us that they have and may enter into stock sales plans for the sale of shares of our class a common stock which are intended to comply with the requirements of rule 10b5-1 of the exchange act . in addition , the company has and may in the future enter into repurchases of our class a common stock under a plan that complies with rule 10b5-1 or rule 10b-18 of the exchange act . equity compensation plan information the information in the following table is presented as of december 31 , 2017 with respect to shares of our class a common stock that may be issued under our lti plan which has been approved by our stockholders ( in millions , except per share prices ) . equity compensation plan category number of securities to be issued upon exercise of outstanding options , warrants and rights weighted average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in the first column ) .
| Equity Compensation PlanCategory | Number ofSecurities to beIssued UponExercise ofOutstandingOptions, Warrantsand Rights | Weighted AverageExercise Price ofOutstandingOptions, Warrantsand Rights | Number of SecuritiesRemaining Availablefor Future IssuanceUnder EquityCompensation Plans(excluding securitiesreflected in the firstcolumn) |
| :--- | :--- | :--- | :--- |
| Stockholder-approved plans | 1.6 | $36.61 | 53.7 |
| Nonstockholder-approved plans | — | — | — |
| Total | 1.6 | $36.61 | 53.7 |
.
| string | null | shares_issued = 1.6
shares_outstanding = 1.6 + 53.7
percent_issued = shares_issued / shares_outstanding
answer = percent_issued * 100 |
what was the percentage increase for teleflex incorporated's market performance from 2014-2015? | 15.3199996948 | CodeFinQA | part a0ii item a05 . market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities our common stock is listed on the new york stock exchange under the symbol 201ctfx . 201d as of february 19 , 2019 , we had 473 holders of record of our common stock . a substantially greater number of holders of our common stock are beneficial owners whose shares are held by brokers and other financial institutions for the accounts of beneficial owners . stock performance graph the following graph provides a comparison of five year cumulative total stockholder returns of teleflex common stock , the standard a0& poor 2019s ( s&p ) 500 stock index and the s&p 500 healthcare equipment & supply index . the annual changes for the five-year period shown on the graph are based on the assumption that $ 100 had been invested in teleflex common stock and each index on december a031 , 2013 and that all dividends were reinvested . market performance .
| Company / Index | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 |
| :--- | :--- | :--- | :--- | :--- | :--- | :--- |
| Teleflex Incorporated | 100 | 124 | 143 | 177 | 275 | 288 |
| S&P 500 Index | 100 | 114 | 115 | 129 | 157 | 150 |
| S&P 500 Healthcare Equipment & Supply Index | 100 | 126 | 134 | 142 | 186 | 213 |
s&p 500 healthcare equipment & supply index 100 126 134 142 186 213 .
| string | null | teleflex_2015 = 143
teleflex_2014 = 124
increase = teleflex_2015 - teleflex_2014
percent_change = increase / teleflex_2014
answer = percent_change * 100 |
what percentage of total material obligations and commitments as of december 31 , 2011 are operating leases? | 18 | CodeFinQA | the railroad collected approximately $ 18.8 billion and $ 16.3 billion of receivables during the years ended december 31 , 2011 and 2010 , respectively . upri used certain of these proceeds to purchase new receivables under the facility . the costs of the receivables securitization facility include interest , which will vary based on prevailing commercial paper rates , program fees paid to banks , commercial paper issuing costs , and fees for unused commitment availability . the costs of the receivables securitization facility are included in interest expense and were $ 4 million and $ 6 million for 2011 and 2010 , respectively . prior to adoption of the new accounting standard , the costs of the receivables securitization facility were included in other income and were $ 9 million for 2009 . the investors have no recourse to the railroad 2019s other assets , except for customary warranty and indemnity claims . creditors of the railroad do not have recourse to the assets of upri . in august 2011 , the receivables securitization facility was renewed for an additional 364-day period at comparable terms and conditions . contractual obligations and commercial commitments as described in the notes to the consolidated financial statements and as referenced in the tables below , we have contractual obligations and commercial commitments that may affect our financial condition . based on our assessment of the underlying provisions and circumstances of our contractual obligations and commercial commitments , including material sources of off-balance sheet and structured finance arrangements , other than the risks that we and other similarly situated companies face with respect to the condition of the capital markets ( as described in item 1a of part ii of this report ) , there is no known trend , demand , commitment , event , or uncertainty that is reasonably likely to occur that would have a material adverse effect on our consolidated results of operations , financial condition , or liquidity . in addition , our commercial obligations , financings , and commitments are customary transactions that are similar to those of other comparable corporations , particularly within the transportation industry . the following tables identify material obligations and commitments as of december 31 , 2011 : payments due by december 31 , contractual obligations after millions total 2012 2013 2014 2015 2016 2016 other .
| | | <i>Payments Due by December 31,</i> |
| :--- | :--- | :--- |
| <i>Contractual Obligations</i><i>Millions</i> | <i>Total</i> | <i>2012</i> | <i>2013</i> | <i>2014</i> | <i>2015</i> | <i>2016</i> | <i>After 2016</i> | <i>Other</i> |
| Debt [a] | $12,516 | $538 | $852 | $887 | $615 | $652 | $8,972 | $- |
| Operating leases [b] | 4,528 | 525 | 489 | 415 | 372 | 347 | 2,380 | - |
| Capital lease obligations [c] | 2,559 | 297 | 269 | 276 | 276 | 262 | 1,179 | - |
| Purchase obligations [d] | 5,137 | 2,598 | 568 | 560 | 276 | 245 | 858 | 32 |
| Other post retirement benefits [e] | 249 | 26 | 26 | 26 | 26 | 26 | 119 | - |
| Income tax contingencies [f] | 107 | 31 | - | - | - | - | - | 76 |
| Total contractualobligations | $25,096 | $4,015 | $2,204 | $2,164 | $1,565 | $1,532 | $13,508 | $108 |
[a] excludes capital lease obligations of $ 1874 million and unamortized discount of $ 364 million . includes an interest component of $ 5120 million . [b] includes leases for locomotives , freight cars , other equipment , and real estate . [c] represents total obligations , including interest component of $ 685 million . [d] purchase obligations include locomotive maintenance contracts ; purchase commitments for fuel purchases , locomotives , ties , ballast , and rail ; and agreements to purchase other goods and services . for amounts where we cannot reasonably estimate the year of settlement , they are reflected in the other column . [e] includes estimated other post retirement , medical , and life insurance payments and payments made under the unfunded pension plan for the next ten years . no amounts are included for funded pension obligations as no contributions are currently required . [f] future cash flows for income tax contingencies reflect the recorded liability for unrecognized tax benefits , including interest and penalties , as of december 31 , 2011 . where we can reasonably estimate the years in which these liabilities may be settled , this is shown in the table . for amounts where we cannot reasonably estimate the year of settlement , they are reflected in the other column. .
| string | null | leases_2011 = 4528
total_obligations = 25096
percent_leases = leases_2011 / total_obligations
answer = percent_leases * 100 |
what percentage of total miles of track were switching and classification yard lines in 2012? | 18 | CodeFinQA | item 2 . properties we employ a variety of assets in the management and operation of our rail business . our rail network covers 23 states in the western two-thirds of the u.s . our rail network includes 31838 route miles . we own 26009 miles and operate on the remainder pursuant to trackage rights or leases . the following table describes track miles at december 31 , 2013 and 2012 . 2013 2012 .
| | <i>2013</i> | <i>2012</i> |
| :--- | :--- | :--- |
| Route | 31,838 | 31,868 |
| Other main line | 6,766 | 6,715 |
| Passing lines and turnouts | 3,167 | 3,124 |
| Switching and classification yard lines | 9,090 | 9,046 |
| Total miles | 50,861 | 50,753 |
headquarters building we maintain our headquarters in omaha , nebraska . the facility has 1.2 million square feet of space for approximately 4000 employees and is subject to a financing arrangement . harriman dispatching center the harriman dispatching center ( hdc ) , located in omaha , nebraska , is our primary dispatching facility . it is linked to regional dispatching and locomotive management facilities at various locations along our .
| string | null | track_miles_switching_2012 = 9046
total_miles_2012 = 50753
percent_switching = track_miles_switching_2012 / total_miles_2012
answer = percent_switching * 100 |
during january 2006 , what percentage of the long term loan to a real estate developer for the acquisition of a 59 acre land parcel located in san antonio , tx did the company provide? | 45.2099990845 | CodeFinQA | kimco realty corporation and subsidiaries job title kimco realty ar revision 6 serial date / time tuesday , april 03 , 2007 /10:32 pm job number 142704 type current page no . 65 operator pm2 <12345678> at december 31 , 2006 and 2005 , the company 2019s net invest- ment in the leveraged lease consisted of the following ( in mil- lions ) : .
| | 2006 | 2005 |
| :--- | :--- | :--- |
| Remaining net rentals | $62.3 | $68.9 |
| Estimated unguaranteed residual value | 40.5 | 43.8 |
| Non-recourse mortgage debt | (48.4) | (52.8) |
| Unearned and deferred income | (50.7) | (55.9) |
| Net investment in leveraged lease | $3.7 | $4.0 |
9 . mortgages and other financing receivables : during january 2006 , the company provided approximately $ 16.0 million as its share of a $ 50.0 million junior participation in a $ 700.0 million first mortgage loan , in connection with a private investment firm 2019s acquisition of a retailer . this loan participation bore interest at libor plus 7.75% ( 7.75 % ) per annum and had a two-year term with a one-year extension option and was collateralized by certain real estate interests of the retailer . during june 2006 , the borrower elected to pre-pay the outstanding loan balance of approximately $ 16.0 million in full satisfaction of this loan . additionally , during january 2006 , the company provided approximately $ 5.2 million as its share of an $ 11.5 million term loan to a real estate developer for the acquisition of a 59 acre land parcel located in san antonio , tx . this loan is interest only at a fixed rate of 11.0% ( 11.0 % ) for a term of two years payable monthly and collateralized by a first mortgage on the subject property . as of december 31 , 2006 , the outstanding balance on this loan was approximately $ 5.2 million . during february 2006 , the company committed to provide a one year $ 17.2 million credit facility at a fixed rate of 8.0% ( 8.0 % ) for a term of nine months and 9.0% ( 9.0 % ) for the remaining term to a real estate investor for the recapitalization of a discount and entertain- ment mall that it currently owns . during 2006 , this facility was fully paid and was terminated . during april 2006 , the company provided two separate mortgages aggregating $ 14.5 million on a property owned by a real estate investor . proceeds were used to payoff the existing first mortgage , buyout the existing partner and for redevelopment of the property . the mortgages bear interest at 8.0% ( 8.0 % ) per annum and mature in 2008 and 2013 . these mortgages are collateralized by the subject property . as of december 31 , 2006 , the aggregate outstanding balance on these mortgages was approximately $ 15.0 million , including $ 0.5 million of accrued interest . during may 2006 , the company provided a cad $ 23.5 million collateralized credit facility at a fixed rate of 8.5% ( 8.5 % ) per annum for a term of two years to a real estate company for the execution of its property acquisitions program . the credit facility is guaranteed by the real estate company . the company was issued 9811 units , valued at approximately usd $ 0.1 million , and warrants to purchase up to 0.1 million shares of the real estate company as a loan origination fee . during august 2006 , the company increased the credit facility to cad $ 45.0 million and received an additional 9811 units , valued at approximately usd $ 0.1 million , and warrants to purchase up to 0.1 million shares of the real estate company . as of december 31 , 2006 , the outstand- ing balance on this credit facility was approximately cad $ 3.6 million ( approximately usd $ 3.1 million ) . during september 2005 , a newly formed joint venture , in which the company had an 80% ( 80 % ) interest , acquired a 90% ( 90 % ) interest in a $ 48.4 million mortgage receivable for a purchase price of approximately $ 34.2 million . this loan bore interest at a rate of three-month libor plus 2.75% ( 2.75 % ) per annum and was scheduled to mature on january 12 , 2010 . a 626-room hotel located in lake buena vista , fl collateralized the loan . the company had determined that this joint venture entity was a vie and had further determined that the company was the primary benefici- ary of this vie and had therefore consolidated it for financial reporting purposes . during march 2006 , the joint venture acquired the remaining 10% ( 10 % ) of this mortgage receivable for a purchase price of approximately $ 3.8 million . during june 2006 , the joint venture accepted a pre-payment of approximately $ 45.2 million from the borrower as full satisfaction of this loan . during august 2006 , the company provided $ 8.8 million as its share of a $ 13.2 million 12-month term loan to a retailer for general corporate purposes . this loan bears interest at a fixed rate of 12.50% ( 12.50 % ) with interest payable monthly and a balloon payment for the principal balance at maturity . the loan is collateralized by the underlying real estate of the retailer . additionally , the company funded $ 13.3 million as its share of a $ 20.0 million revolving debtor-in-possession facility to this retailer . the facility bears interest at libor plus 3.00% ( 3.00 % ) and has an unused line fee of 0.375% ( 0.375 % ) . this credit facility is collateralized by a first priority lien on all the retailer 2019s assets . as of december 31 , 2006 , the compa- ny 2019s share of the outstanding balance on this loan and credit facility was approximately $ 7.6 million and $ 4.9 million , respec- tively . during september 2006 , the company provided a mxp 57.3 million ( approximately usd $ 5.3 million ) loan to an owner of an operating property in mexico . the loan , which is collateralized by the property , bears interest at 12.0% ( 12.0 % ) per annum and matures in 2016 . the company is entitled to a participation feature of 25% ( 25 % ) of annual cash flows after debt service and 20% ( 20 % ) of the gain on sale of the property . as of december 31 , 2006 , the outstand- ing balance on this loan was approximately mxp 57.8 million ( approximately usd $ 5.3 million ) . during november 2006 , the company committed to provide a mxp 124.8 million ( approximately usd $ 11.5 million ) loan to an owner of a land parcel in acapulco , mexico . the loan , which is collateralized with an operating property owned by the bor- rower , bears interest at 10% ( 10 % ) per annum and matures in 2016 . the company is entitled to a participation feature of 20% ( 20 % ) of excess cash flows and gains on sale of the property . as of decem- ber 31 , 2006 , the outstanding balance on this loan was mxp 12.8 million ( approximately usd $ 1.2 million ) . .
| string | null | loan_2006 = 5.2
loan_total = 11.5
percent_2006 = loan_2006 / loan_total
answer = percent_2006 * 100 |
what is the percentage of electronics and safety sites among all sites? | 9.5200004578 | CodeFinQA | taxing authorities could challenge our historical and future tax positions . our future effective tax rates could be affected by changes in the mix of earnings in countries with differing statutory rates and changes in tax laws or their interpretation including changes related to tax holidays or tax incentives . our taxes could increase if certain tax holidays or incentives are not renewed upon expiration , or if tax rates or regimes applicable to us in such jurisdictions are otherwise increased . the amount of tax we pay is subject to our interpretation of applicable tax laws in the jurisdictions in which we file . we have taken and will continue to take tax positions based on our interpretation of such tax laws . in particular , we will seek to organize and operate ourselves in such a way that we are and remain tax resident in the united kingdom . additionally , in determining the adequacy of our provision for income taxes , we regularly assess the likelihood of adverse outcomes resulting from tax examinations . while it is often difficult to predict the final outcome or the timing of the resolution of a tax examination , our reserves for uncertain tax benefits reflect the outcome of tax positions that are more likely than not to occur . while we believe that we have complied with all applicable tax laws , there can be no assurance that a taxing authority will not have a different interpretation of the law and assess us with additional taxes . should additional taxes be assessed , this may result in a material adverse effect on our results of operations and financial condition . item 1b . unresolved staff comments we have no unresolved sec staff comments to report . item 2 . properties as of december 31 , 2016 , we owned or leased 126 major manufacturing sites and 15 major technical centers . a manufacturing site may include multiple plants and may be wholly or partially owned or leased . we also have many smaller manufacturing sites , sales offices , warehouses , engineering centers , joint ventures and other investments strategically located throughout the world . we have a presence in 46 countries . the following table shows the regional distribution of our major manufacturing sites by the operating segment that uses such facilities : north america europe , middle east & africa asia pacific south america total .
| | North America | Europe,Middle East& Africa | Asia Pacific | South America | Total |
| :--- | :--- | :--- | :--- | :--- | :--- |
| Electrical/Electronic Architecture | 32 | 34 | 25 | 5 | 96 |
| Powertrain Systems | 4 | 8 | 5 | 1 | 18 |
| Electronics and Safety | 3 | 6 | 3 | — | 12 |
| Total | 39 | 48 | 33 | 6 | 126 |
in addition to these manufacturing sites , we had 15 major technical centers : five in north america ; five in europe , middle east and africa ; four in asia pacific ; and one in south america . of our 126 major manufacturing sites and 15 major technical centers , which include facilities owned or leased by our consolidated subsidiaries , 75 are primarily owned and 66 are primarily leased . we frequently review our real estate portfolio and develop footprint strategies to support our customers 2019 global plans , while at the same time supporting our technical needs and controlling operating expenses . we believe our evolving portfolio will meet current and anticipated future needs . item 3 . legal proceedings we are from time to time subject to various actions , claims , suits , government investigations , and other proceedings incidental to our business , including those arising out of alleged defects , breach of contracts , competition and antitrust matters , product warranties , intellectual property matters , personal injury claims and employment-related matters . it is our opinion that the outcome of such matters will not have a material adverse impact on our consolidated financial position , results of operations , or cash flows . with respect to warranty matters , although we cannot ensure that the future costs of warranty claims by customers will not be material , we believe our established reserves are adequate to cover potential warranty settlements . however , the final amounts required to resolve these matters could differ materially from our recorded estimates. .
| string | null | electronics_safety_sites = 12
sites_total = 126
percent_electronics_safety_sites = electronics_safety_sites / sites_total
answer = percent_electronics_safety_sites * 100 |
what was the percentage change in the deffered tax asset balance in 2009 from 2008 | 380.5 | CodeFinQA | deferred tax assets and liabilities are recorded in the accompanying consolidated balance sheet under the captions deferred income tax assets , deferred charges and other assets , other accrued liabilities and deferred income taxes . the decrease in 2009 in deferred tax assets principally relates to the tax impact of changes in recorded qualified pension liabilities , minimum tax credit utilization and an increase in the valuation allowance . the decrease in deferred income tax liabilities principally relates to less tax depreciation taken on the company 2019s assets purchased in 2009 . the valuation allowance for deferred tax assets as of december 31 , 2008 was $ 72 million . the net change in the total valuation allowance for the year ended december 31 , 2009 , was an increase of $ 274 million . the increase of $ 274 million consists primarily of : ( 1 ) $ 211 million related to the company 2019s french operations , including a valuation allowance of $ 55 million against net deferred tax assets from current year operations and $ 156 million recorded in the second quarter of 2009 for the establishment of a valuation allowance against previously recorded deferred tax assets , ( 2 ) $ 10 million for net deferred tax assets arising from the company 2019s united king- dom current year operations , and ( 3 ) $ 47 million related to a reduction of previously recorded u.s . state deferred tax assets , including $ 15 million recorded in the fourth quarter of 2009 for louisiana recycling credits . the effect on the company 2019s effec- tive tax rate of the aforementioned $ 211 million and $ 10 million is included in the line item 201ctax rate and permanent differences on non-u.s . earnings . 201d international paper adopted the provisions of new guidance under asc 740 , 201cincome taxes , 201d on jan- uary 1 , 2007 related to uncertain tax positions . as a result of the implementation of this new guidance , the company recorded a charge to the beginning balance of retained earnings of $ 94 million , which was accounted for as a reduction to the january 1 , 2007 balance of retained earnings . a reconciliation of the beginning and ending amount of unrecognized tax benefits for the year ending december 31 , 2009 and 2008 is as follows : in millions 2009 2008 2007 .
| <i>In millions</i> | 2009 | 2008 | 2007 |
| :--- | :--- | :--- | :--- |
| Balance at January 1 | $(435) | $(794) | (919) |
| Additions based on tax positions related to current year | (28) | (14) | (12) |
| Additions for tax positions of prior years | (82) | (66) | (30) |
| Reductions for tax positions of prior years | 72 | 67 | 74 |
| Settlements | 174 | 352 | 112 |
| Expiration of statutes of limitations | 2 | 3 | 5 |
| Currency translation adjustment | (11) | 17 | (24) |
| Balance at December 31 | $(308) | $(435) | $(794) |
included in the balance at december 31 , 2009 and 2008 are $ 56 million and $ 9 million , respectively , for tax positions for which the ultimate benefits are highly certain , but for which there is uncertainty about the timing of such benefits . however , except for the possible effect of any penalties , any dis- allowance that would change the timing of these benefits would not affect the annual effective tax rate , but would accelerate the payment of cash to the taxing authority to an earlier period . the company accrues interest on unrecognized tax benefits as a component of interest expense . penal- ties , if incurred , are recognized as a component of income tax expense . the company had approx- imately $ 95 million and $ 74 million accrued for the payment of estimated interest and penalties asso- ciated with unrecognized tax benefits at december 31 , 2009 and 2008 , respectively . the major jurisdictions where the company files income tax returns are the united states , brazil , france , poland and russia . generally , tax years 2002 through 2009 remain open and subject to examina- tion by the relevant tax authorities . the company is typically engaged in various tax examinations at any given time , both in the united states and overseas . currently , the company is engaged in discussions with the u.s . internal revenue service regarding the examination of tax years 2006 and 2007 . as a result of these discussions , other pending tax audit settle- ments , and the expiration of statutes of limitation , the company currently estimates that the amount of unrecognized tax benefits could be reduced by up to $ 125 million during the next twelve months . during 2009 , unrecognized tax benefits decreased by $ 127 million . while the company believes that it is adequately accrued for possible audit adjustments , the final resolution of these examinations cannot be determined at this time and could result in final settlements that differ from current estimates . the company 2019s 2009 income tax provision of $ 469 million included $ 279 million related to special items and other charges , consisting of a $ 534 million tax benefit related to restructuring and other charges , a $ 650 million tax expense for the alternative fuel mixture credit , and $ 163 million of tax-related adjustments including a $ 156 million tax expense to establish a valuation allowance for net operating loss carryforwards in france , a $ 26 million tax benefit for the effective settlement of federal tax audits , a $ 15 million tax expense to establish a valuation allow- ance for louisiana recycling credits , and $ 18 million of other income tax adjustments . excluding the impact of special items , the tax provision was .
| string | null | valuation_allowance_increase = 274
valuation_allowance_total = 72
percent_change = valuation_allowance_increase / valuation_allowance_total
answer = percent_change * 100 |
what was the percentage change in reserves against inventory from 2005 to 2006? | 37.5 | CodeFinQA | advance auto parts , inc . and subsidiaries notes to consolidated financial statements 2013 ( continued ) december 30 , 2006 , december 31 , 2005 and january 1 , 2005 ( in thousands , except per share data ) 8 . inventories , net inventories are stated at the lower of cost or market , cost being determined using the last-in , first-out ( "lifo" ) method for approximately 93% ( 93 % ) of inventories at both december 30 , 2006 and december 31 , 2005 . under the lifo method , the company 2019s cost of sales reflects the costs of the most currently purchased inventories while the inventory carrying balance represents the costs relating to prices paid in prior years . the company 2019s costs to acquire inventory have been generally decreasing in recent years as a result of its significant growth . accordingly , the cost to replace inventory is less than the lifo balances carried for similar product . as a result of the lifo method and the ability to obtain lower product costs , the company recorded a reduction to cost of sales of $ 9978 for fiscal year ended 2006 , an increase in cost of sales of $ 526 for fiscal year ended 2005 and a reduction to cost of sales of $ 11212 for fiscal year ended 2004 . the remaining inventories are comprised of product cores , which consist of the non-consumable portion of certain parts and batteries and are valued under the first-in , first-out ( "fifo" ) method . core values are included as part of our merchandise costs and are either passed on to the customer or returned to the vendor . additionally , these products are not subject to the frequent cost changes like our other merchandise inventory , thus , there is no material difference from applying either the lifo or fifo valuation methods . the company capitalizes certain purchasing and warehousing costs into inventory . purchasing and warehousing costs included in inventory , at fifo , at december 30 , 2006 and december 31 , 2005 , were $ 95576 and $ 92833 , respectively . inventories consist of the following : december 30 , december 31 , 2006 2005 .
| | December 30, 2006 | December 31, 2005 |
| :--- | :--- | :--- |
| Inventories at FIFO, net | $1,380,573 | $1,294,310 |
| Adjustments to state inventories at LIFO | 82,767 | 72,789 |
| Inventories at LIFO, net | $1,463,340 | $1,367,099 |
replacement cost approximated fifo cost at december 30 , 2006 and december 31 , 2005 . inventory quantities are tracked through a perpetual inventory system . the company uses a cycle counting program in all distribution centers , parts delivered quickly warehouses , or pdqs , local area warehouses , or laws , and retail stores to ensure the accuracy of the perpetual inventory quantities of both merchandise and core inventory . the company establishes reserves for estimated shrink based on historical accuracy and effectiveness of the cycle counting program . the company also establishes reserves for potentially excess and obsolete inventories based on current inventory levels and the historical analysis of product sales and current market conditions . the nature of the company 2019s inventory is such that the risk of obsolescence is minimal and excess inventory has historically been returned to the company 2019s vendors for credit . the company provides reserves when less than full credit is expected from a vendor or when liquidating product will result in retail prices below recorded costs . the company 2019s reserves against inventory for these matters were $ 31376 and $ 22825 at december 30 , 2006 and december 31 , 2005 , respectively . 9 . property and equipment : property and equipment are stated at cost , less accumulated depreciation . expenditures for maintenance and repairs are charged directly to expense when incurred ; major improvements are capitalized . when items are sold or retired , the related cost and accumulated depreciation are removed from the accounts , with any gain or loss reflected in the consolidated statements of operations . depreciation of land improvements , buildings , furniture , fixtures and equipment , and vehicles is provided over the estimated useful lives , which range from 2 to 40 years , of the respective assets using the straight-line method. .
| string | null | reserves_2006 = 31376
reserves_2005 = 22825
change = reserves_2006 - reserves_2005
percent_change = change / reserves_2005
answer = percent_change * 100 |
what was the change in equipment rents payable in millions from 2008 to 2009? | 4 | CodeFinQA | 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 road infrastructure assets ( program projects ) , which is typically performed by our employees , and for track line expansion ( capacity projects ) . costs that are directly attributable or overhead costs that relate directly to capital projects 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 . these costs are allocated using appropriate statistical bases . 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 . 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 . 11 . accounts payable and other current liabilities dec . 31 , dec . 31 , millions of dollars 2009 2008 .
| <i>Millions of Dollars</i> | <i>Dec. 31, 2009</i> | <i>Dec. 31, 2008</i> |
| :--- | :--- | :--- |
| Accounts payable | $612 | $629 |
| Accrued wages and vacation | 339 | 367 |
| Accrued casualty costs | 379 | 390 |
| Income and other taxes | 224 | 207 |
| Dividends and interest | 347 | 328 |
| Equipment rents payable | 89 | 93 |
| Other | 480 | 546 |
| Total accounts payable and other current liabilities | $2,470 | $2,560 |
12 . financial instruments strategy and risk 2013 we may use derivative financial instruments in limited instances for other than trading purposes to assist in managing our overall exposure to fluctuations in interest rates and fuel prices . we are not a party to leveraged derivatives and , by policy , do not use derivative financial instruments for speculative purposes . derivative financial instruments qualifying for hedge accounting must maintain a specified level of effectiveness between the hedging instrument and the item being hedged , both at inception and throughout the hedged period . we formally document the nature and relationships between the hedging instruments and hedged items at inception , as well as our risk-management objectives , strategies for undertaking the various hedge transactions , and method of assessing hedge effectiveness . changes in the fair market value of derivative financial instruments that do not qualify for hedge accounting are charged to earnings . we may use swaps , collars , futures , and/or forward contracts to mitigate the risk of adverse movements in interest rates and fuel prices ; however , the use of these derivative financial instruments may limit future benefits from favorable interest rate and fuel price movements. .
| string | null | equipment_rents_payable = 89
equipment_rents_increase = equipment_rents_payable - 93
answer = equipment_rents_increase |
what portion of total consideration transferred for acquisition of ecp and ais is cash consideration? | 72.4000015259 | CodeFinQA | abiomed , inc . and subsidiaries notes to consolidated financial statements 2014 ( continued ) note 3 . acquisitions ( continued ) including the revenues of third-party licensees , or ( ii ) the company 2019s sale of ( a ) ecp , ( b ) all or substantially all of ecp 2019s assets , or ( c ) certain of ecp 2019s patent rights , the company will pay to syscore the lesser of ( x ) one-half of the profits earned from such sale described in the foregoing item ( ii ) , after accounting for the costs of acquiring and operating ecp , or ( y ) $ 15.0 million ( less any previous milestone payment ) . ecp 2019s acquisition of ais gmbh aachen innovative solutions in connection with the company 2019s acquisition of ecp , ecp acquired all of the share capital of ais gmbh aachen innovative solutions ( 201cais 201d ) , a limited liability company incorporated in germany , pursuant to a share purchase agreement dated as of june 30 , 2014 , by and among ecp and ais 2019s four individual shareholders . ais , based in aachen , germany , holds certain intellectual property useful to ecp 2019s business , and , prior to being acquired by ecp , had licensed such intellectual property to ecp . the purchase price for the acquisition of ais 2019s share capital was approximately $ 2.8 million in cash , which was provided by the company , and the acquisition closed immediately prior to abiomed europe 2019s acquisition of ecp . the share purchase agreement contains representations , warranties and closing conditions customary for transactions of its size and nature . purchase price allocation the acquisition of ecp and ais was accounted for as a business combination . the purchase price for the acquisition has been allocated to the assets acquired and liabilities assumed based on their estimated fair values . the acquisition-date fair value of the consideration transferred is as follows : acquisition date fair value ( in thousands ) .
| | Total Acquisition Date Fair Value (in thousands) |
| :--- | :--- |
| Cash consideration | $15,750 |
| Contingent consideration | 6,000 |
| Total consideration transferred | $21,750 |
.
| string | null | cash_consideration = 15750
contingent_consideration = 6000
total_consideration_transferred = cash_consideration + contingent_consideration
answer = cash_consideration / total_consideration_transferred * 100 |
what was the percentage change in free cash flow from 2015 to 2016? | 330 | CodeFinQA | 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 | $7,230 | $7,525 | $7,344 |
| Cash used in investing activities | (3,086) | (3,393) | (4,476) |
| Dividends paid | (1,982) | (1,879) | (2,344) |
| Free cash flow | $2,162 | $2,253 | $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. .
| string | null | free_cash_flow_2016 = 2253
free_cash_flow_2015 = 524
percent_change = (free_cash_flow_2016 - free_cash_flow_2015) / free_cash_flow_2015
answer = percent_change * 100 |
what was the operating margin from printing papers in 2012 | 9.6000003815 | CodeFinQA | printing papers demand for printing papers products is closely corre- lated with changes in commercial printing and advertising activity , direct mail volumes and , for uncoated cut-size products , with changes in white- collar employment levels that affect the usage of copy and laser printer paper . pulp is further affected by changes in currency rates that can enhance or disadvantage producers in different geographic regions . principal cost drivers include manufacturing efficiency , raw material and energy costs and freight costs . pr int ing papers net sales for 2012 were about flat with 2011 and increased 5% ( 5 % ) from 2010 . operat- ing profits in 2012 were 31% ( 31 % ) lower than in 2011 , but 25% ( 25 % ) higher than in 2010 . excluding facility closure costs and impairment costs , operating profits in 2012 were 30% ( 30 % ) lower than in 2011 and 25% ( 25 % ) lower than in 2010 . benefits from higher sales volumes ( $ 58 mil- lion ) were more than offset by lower sales price real- izations and an unfavorable product mix ( $ 233 million ) , higher operating costs ( $ 30 million ) , higher maintenance outage costs ( $ 17 million ) , higher input costs ( $ 32 million ) and other items ( $ 6 million ) . in addition , operating profits in 2011 included a $ 24 million gain related to the announced repurposing of our franklin , virginia mill to produce fluff pulp and an $ 11 million impairment charge related to our inverurie , scotland mill that was closed in 2009 . printing papers .
| In millions | 2012 | 2011 | 2010 |
| :--- | :--- | :--- | :--- |
| Sales | $6,230 | $6,215 | $5,940 |
| Operating Profit | 599 | 872 | 481 |
north american pr int ing papers net sales were $ 2.7 billion in 2012 , $ 2.8 billion in 2011 and $ 2.8 billion in 2010 . operating profits in 2012 were $ 331 million compared with $ 423 million ( $ 399 million excluding a $ 24 million gain associated with the repurposing of our franklin , virginia mill ) in 2011 and $ 18 million ( $ 333 million excluding facility clo- sure costs ) in 2010 . sales volumes in 2012 were flat with 2011 . average sales margins were lower primarily due to lower export sales prices and higher export sales volume . input costs were higher for wood and chemicals , but were partially offset by lower purchased pulp costs . freight costs increased due to higher oil prices . manufacturing operating costs were favorable reflecting strong mill performance . planned main- tenance downtime costs were slightly higher in 2012 . no market-related downtime was taken in either 2012 or 2011 . entering the first quarter of 2013 , sales volumes are expected to increase compared with the fourth quar- ter of 2012 reflecting seasonally stronger demand . average sales price realizations are expected to be relatively flat as sales price realizations for domestic and export uncoated freesheet roll and cutsize paper should be stable . input costs should increase for energy , chemicals and wood . planned maintenance downtime costs are expected to be about $ 19 million lower with an outage scheduled at our georgetown mill versus outages at our courtland and eastover mills in the fourth quarter of 2012 . braz i l ian papers net sales for 2012 were $ 1.1 bil- lion compared with $ 1.2 billion in 2011 and $ 1.1 bil- lion in 2010 . operating profits for 2012 were $ 163 million compared with $ 169 million in 2011 and $ 159 million in 2010 . sales volumes in 2012 were higher than in 2011 as international paper improved its segment position in the brazilian market despite weaker year-over-year conditions in most markets . average sales price realizations improved for domestic uncoated freesheet paper , but the benefit was more than offset by declining prices for exported paper . margins were favorably affected by an increased proportion of sales to the higher- margin domestic market . raw material costs increased for wood and chemicals , but costs for purchased pulp decreased . operating costs and planned maintenance downtime costs were lower than in 2011 . looking ahead to 2013 , sales volumes in the first quarter are expected to be lower than in the fourth quarter of 2012 due to seasonally weaker customer demand for uncoated freesheet paper . average sales price realizations are expected to increase in the brazilian domestic market due to the realization of an announced sales price increase for uncoated free- sheet paper , but the benefit should be partially offset by pricing pressures in export markets . average sales margins are expected to be negatively impacted by a less favorable geographic mix . input costs are expected to be about flat due to lower energy costs being offset by higher costs for wood , purchased pulp , chemicals and utilities . planned maintenance outage costs should be $ 4 million lower with no outages scheduled in the first quarter . operating costs should be favorably impacted by the savings generated by the start-up of a new biomass boiler at the mogi guacu mill . european papers net sales in 2012 were $ 1.4 bil- lion compared with $ 1.4 billion in 2011 and $ 1.3 bil- lion in 2010 . operating profits in 2012 were $ 179 million compared with $ 196 million ( $ 207 million excluding asset impairment charges related to our inverurie , scotland mill which was closed in 2009 ) in 2011 and $ 197 million ( $ 199 million excluding an asset impairment charge ) in 2010 . sales volumes in 2012 compared with 2011 were higher for uncoated freesheet paper in both europe and russia , while sales volumes for pulp were lower in both regions . average sales price realizations for uncoated .
| string | null | margin_2012 = 599
margin_total = 6230
margin_percent = margin_2012 / margin_total
answer = margin_percent * 100 |
what was the ratio of the debt reduction to the stock repurchase | 4.4299998283 | CodeFinQA | item 7 . management 2019s discussion and analysis of financial condition and results of operations executive summary international paper 2019s operating results in 2006 bene- fited from strong gains in pricing and sales volumes and lower operating costs . our average paper and packaging prices in 2006 increased faster than our costs for the first time in four years . the improve- ment in sales volumes reflects increased uncoated papers , corrugated box , coated paperboard and european papers shipments , as well as improved revenues from our xpedx distribution business . our manufacturing operations also made solid cost reduction improvements . lower interest expense , reflecting debt repayments in 2005 and 2006 , was also a positive factor . together , these improvements more than offset the effects of continued high raw material and distribution costs , lower real estate sales , higher net corporate expenses and lower con- tributions from businesses and forestlands divested during 2006 . looking forward to 2007 , we expect seasonally higher sales volumes in the first quarter . average paper price realizations should continue to improve as we implement previously announced price increases in europe and brazil . input costs for energy , fiber and chemicals are expected to be mixed , although slightly higher in the first quarter . operating results will benefit from the recently completed international paper/sun paperboard joint ventures in china and the addition of the luiz anto- nio paper mill to our operations in brazil . however , primarily as a result of lower real estate sales in the first quarter , we anticipate earnings from continuing operations will be somewhat lower than in the 2006 fourth quarter . significant steps were also taken in 2006 in the execution of the company 2019s transformation plan . we completed the sales of our u.s . and brazilian coated papers businesses and 5.6 million acres of u.s . forestlands , and announced definitive sale agreements for our kraft papers , beverage pack- aging and arizona chemical businesses and a majority of our wood products business , all expected to close during 2007 . through december 31 , 2006 , we have received approximately $ 9.7 billion of the estimated proceeds from divest- itures announced under this plan of approximately $ 11.3 billion , with the balance to be received as the remaining divestitures are completed in the first half of 2007 . we have strengthened our balance sheet by reducing debt by $ 6.2 billion , and returned value to our shareholders by repurchasing 39.7 million shares of our common stock for approximately $ 1.4 billion . we made a $ 1.0 billion voluntary contribution to our u.s . qualified pension fund . we have identified selective reinvestment opportunities totaling approx- imately $ 2.0 billion , including opportunities in china , brazil and russia . finally , we remain focused on our three-year $ 1.2 billion target for non-price profit- ability improvements , with $ 330 million realized during 2006 . while more remains to be done in 2007 , we have made substantial progress toward achiev- ing the objectives announced at the outset of the plan in july 2005 . 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 income 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 ( loss ) for each of the last three years : in millions 2006 2005 2004 .
| <i>In millions</i> | 2006 | 2005 | 2004 |
| :--- | :--- | :--- | :--- |
| Industry segment operating profits | $2,074 | $1,622 | $1,703 |
| Corporate items, net | (746) | (607) | (477) |
| Corporate special items* | 2,373 | (134) | (141) |
| Interest expense, net | (521) | (595) | (712) |
| Minority interest | (9) | (9) | (21) |
| Income tax (provision) benefit | (1,889) | 407 | (114) |
| Discontinued operations | (232) | 416 | (273) |
| Net earnings (loss) | $1,050 | $1,100 | $(35) |
* corporate special items include gains on transformation plan forestland sales , goodwill impairment charges , restructuring and other charges , net losses on sales and impairments of businesses , insurance recoveries and reversals of reserves no longer required. .
| string | null | debt_reduction = 6.2
stock_repurchase = 1.4
ratio = debt_reduction / stock_repurchase
answer = ratio |
what is the mathematical range of dilutive share equivalents from share-based plans for 2014-2016? | 562 | CodeFinQA | notes to consolidated financial statements 2014 ( continued ) becton , dickinson and company ( b ) these reclassifications were recorded to interest expense and cost of products sold . additional details regarding the company's cash flow hedges are provided in note 13 . on august 25 , 2016 , in anticipation of proceeds to be received from the divestiture of the respiratory solutions business in the first quarter of fiscal year 2017 , the company entered into an accelerated share repurchase ( "asr" ) agreement . subsequent to the end of the company's fiscal year 2016 and as per the terms of the asr agreement , the company received approximately 1.3 million shares of its common stock , which was recorded as a $ 220 million increase to common stock in treasury . note 4 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: .
| | 2016 | 2015 | 2014 |
| :--- | :--- | :--- | :--- |
| Average common shares outstanding | 212,702 | 202,537 | 193,299 |
| Dilutive share equivalents from share-based plans | 4,834 | 4,972 | 4,410 |
| Average common and common equivalent shares outstanding — assuming dilution | 217,536 | 207,509 | 197,709 |
average common and common equivalent shares outstanding 2014 assuming dilution 217536 207509 197709 upon closing the acquisition of carefusion corporation ( 201ccarefusion 201d ) on march 17 , 2015 , the company issued approximately 15.9 million of its common shares as part of the purchase consideration . additional disclosures regarding this acquisition are provided in note 9 . options to purchase shares of common stock are excluded from the calculation of diluted earnings per share when their inclusion would have an anti-dilutive effect on the calculation . for the years ended september 30 , 2016 , 2015 and 2014 there were no options to purchase shares of common stock which were excluded from the diluted earnings per share calculation. .
| string | null | dilutive_shares = 4972
non_dilutive_shares = 4410
decrease = dilutive_shares - non_dilutive_shares
answer = decrease |
what portion of the rent obligations will be paid-off through sublease rental income for 2008? | 12.6000003815 | CodeFinQA | future minimum lease commitments for office premises and equipment under non-cancelable leases , along with minimum sublease rental income to be received under non-cancelable subleases , are as follows : period rent obligations sublease rental income net rent .
| Period | Rent Obligations | Sublease Rental Income | Net Rent |
| :--- | :--- | :--- | :--- |
| 2008 | $323.9 | $(40.9) | $283.0 |
| 2009 | 300.9 | (37.5) | 263.4 |
| 2010 | 267.7 | (31.0) | 236.7 |
| 2011 | 233.7 | (25.7) | 208.0 |
| 2012 | 197.9 | (20.2) | 177.7 |
| 2013 and thereafter | 871.0 | (33.1) | 837.9 |
| Total | $2,195.1 | $(188.4) | $2,006.7 |
guarantees we have certain contingent obligations under guarantees of certain of our subsidiaries ( 201cparent company guarantees 201d ) relating principally to credit facilities , guarantees of certain media payables and operating leases . the amount of such parent company guarantees was $ 327.1 and $ 327.9 as of december 31 , 2007 and 2006 , respectively . in the event of non-payment by the applicable subsidiary of the obligations covered by a guarantee , we would be obligated to pay the amounts covered by that guarantee . as of december 31 , 2007 , there are no material assets pledged as security for such parent company guarantees . contingent acquisition obligations we have structured certain acquisitions with additional contingent purchase price obligations in order to reduce the potential risk associated with negative future performance of the acquired entity . in addition , we have entered into agreements that may require us to purchase additional equity interests in certain consolidated and unconsolidated subsidiaries . the amounts relating to these transactions are based on estimates of the future financial performance of the acquired entity , the timing of the exercise of these rights , changes in foreign currency exchange rates and other factors . we have not recorded a liability for these items since the definitive amounts payable are not determinable or distributable . when the contingent acquisition obligations have been met and consideration is determinable and distributable , we record the fair value of this consideration as an additional cost of the acquired entity . however , we recognize deferred payments and purchases of additional interests after the effective date of purchase that are contingent upon the future employment of owners as compensation expense . compensation expense is determined based on the terms and conditions of the respective acquisition agreements and employment terms of the former owners of the acquired businesses . this future expense will not be allocated to the assets and liabilities acquired and is amortized over the required employment terms of the former owners . the following table details the estimated liability with respect to our contingent acquisition obligations and the estimated amount that would be paid under the options , in the event of exercise at the earliest exercise date . all payments are contingent upon achieving projected operating performance targets and satisfying other notes to consolidated financial statements 2014 ( continued ) ( amounts in millions , except per share amounts ) .
| string | null | sublease_rent_2008 = 40.9
sublease_rent_total = 323.9
percent_sublease_rent = sublease_rent_2008 / sublease_rent_total
answer = percent_sublease_rent * 100 |
from the growth in revenue , what percentage is attributed to the change in net wholesale revenue? | 50.2999992371 | CodeFinQA | entergy texas , inc . and subsidiaries management 2019s financial discussion and analysis gross operating revenues , fuel and purchased power expenses , and other regulatory charges gross operating revenues increased primarily due to the base rate increases and the volume/weather effect , as discussed above . fuel and purchased power expenses increased primarily due to an increase in demand coupled with an increase in deferred fuel expense as a result of lower fuel refunds in 2011 versus 2010 , partially offset by a decrease in the average market price of natural gas . other regulatory charges decreased primarily due to the distribution in the first quarter 2011 of $ 17.4 million to customers of the 2007 rough production cost equalization remedy receipts . see note 2 to the financial statements for further discussion of the rough production cost equalization proceedings . 2010 compared to 2009 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges ( credits ) . following is an analysis of the change in net revenue comparing 2010 to 2009 . amount ( in millions ) .
| | Amount (In Millions) |
| :--- | :--- |
| 2009 net revenue | $485.1 |
| Net wholesale revenue | 27.7 |
| Volume/weather | 27.2 |
| Rough production cost equalization | 18.6 |
| Retail electric price | 16.3 |
| Securitization transition charge | 15.3 |
| Purchased power capacity | (44.3) |
| Other | (5.7) |
| 2010 net revenue | $540.2 |
the net wholesale revenue variance is primarily due to increased sales to municipal and co-op customers due to the addition of new contracts . the volume/weather variance is primarily due to increased electricity usage primarily in the residential and commercial sectors , resulting from a 1.5% ( 1.5 % ) increase in customers , coupled with the effect of more favorable weather on residential sales . billed electricity usage increased a total of 777 gwh , or 5% ( 5 % ) . the rough production cost equalization variance is due to an additional $ 18.6 million allocation recorded in the second quarter of 2009 for 2007 rough production cost equalization receipts ordered by the puct to texas retail customers over what was originally allocated to entergy texas prior to the jurisdictional separation of entergy gulf states , inc . into entergy gulf states louisiana and entergy texas , effective december 2007 , as discussed in note 2 to the financial statements . the retail electric price variance is primarily due to rate actions , including an annual base rate increase of $ 59 million beginning august 2010 as a result of the settlement of the december 2009 rate case . see note 2 to the financial statements for further discussion of the rate case settlement . the securitization transition charge variance is due to the issuance of securitization bonds . in november 2009 , entergy texas restoration funding , llc , a company wholly-owned and consolidated by entergy texas , issued securitization bonds and with the proceeds purchased from entergy texas the transition property , which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds . the securitization transition charge is offset with a corresponding increase in interest on long-term debt with no impact on net income . see note 5 to the financial statements for further discussion of the securitization bond issuance. .
| string | null | net_revenue_2010 = 540.2
net_revenue_2009 = 485.1
net_revenue_change = net_revenue_2010 - net_revenue_2009
wholesale_revenue = 27.7
volume_weather = 27.2
rough_production_cost_equalization = 18.6
retail_electric_price = 16.3
securitization_transition_charge = 15.3
other = 5.7
answer = wholesale_revenue / net_revenue_change * 100 |
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