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as of december 2006 what was the percent of the total future minimum lease payments for operating and capital leases that was due in 2009 | 9 | 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_future_minimum_lease_payments = 5457 + 1916
operating_lease_payments = 498 + 168
percent_operating_lease_payments = operating_lease_payments / total_future_minimum_lease_payments
answer = percent_operating_lease_payments * 100 |
what is the percentage decrease in average price per share from october to november? | 8.9200000763 | CodeFinQA | sales of unregistered securities not applicable . repurchases of equity securities the following table provides information regarding our purchases of our equity securities during the period from october 1 , 2017 to december 31 , 2017 . total number of shares ( or units ) purchased 1 average price paid per share ( or unit ) 2 total number of shares ( or units ) purchased as part of publicly announced plans or programs 3 maximum number ( or approximate dollar value ) of shares ( or units ) that may yet be purchased under the plans or programs 3 .
| | Total Number ofShares (or Units)Purchased<sup>1</sup> | Average Price Paidper Share (or Unit)<sup>2</sup> | Total Number ofShares (or Units)Purchased as Part ofPublicly AnnouncedPlans or Programs<sup>3</sup> | Maximum Number (orApproximate Dollar Value)of Shares (or Units)that May Yet Be PurchasedUnder the Plans orPrograms<sup>3</sup> |
| :--- | :--- | :--- | :--- | :--- |
| October 1 - 31 | 1,231,868 | $20.74 | 1,230,394 | $214,001,430 |
| November 1 - 30 | 1,723,139 | $18.89 | 1,722,246 | $181,474,975 |
| December 1 - 31 | 1,295,639 | $20.25 | 1,285,000 | $155,459,545 |
| Total | 4,250,646 | $19.84 | 4,237,640 | |
1 included shares of our common stock , par value $ 0.10 per share , withheld under the terms of grants under employee stock-based compensation plans to offset tax withholding obligations that occurred upon vesting and release of restricted shares ( the 201cwithheld shares 201d ) . we repurchased 1474 withheld shares in october 2017 , 893 withheld shares in november 2017 and 10639 withheld shares in december 2017 , for a total of 13006 withheld shares during the three-month period . 2 the average price per share for each of the months in the fiscal quarter and for the three-month period was calculated by dividing the sum of the applicable period of the aggregate value of the tax withholding obligations and the aggregate amount we paid for shares acquired under our share repurchase program , described in note 5 to the consolidated financial statements , by the sum of the number of withheld shares and the number of shares acquired in our share repurchase program . 3 in february 2017 , the board authorized a share repurchase program to repurchase from time to time up to $ 300.0 million , excluding fees , of our common stock ( the 201c2017 share repurchase program 201d ) . on february 14 , 2018 , we announced that our board had approved a new share repurchase program to repurchase from time to time up to $ 300.0 million , excluding fees , of our common stock . the new authorization is in addition to any amounts remaining for repurchase under the 2017 share repurchase program . there is no expiration date associated with the share repurchase programs. .
| string | null | price_decrease = 20.74 - 18.89
average_price = 20.74
percent_change = price_decrease / average_price
answer = percent_change * 100 |
what is the total number of outstanding shares as of december 31 , 2004 according to pro-forma income , in millions? | 224.3000030518 | CodeFinQA | american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) sfas no . 148 . in accordance with apb no . 25 , the company recognizes compensation expense based on the excess , if any , of the quoted stock price at the grant date of the award or other measurement date over the amount an employee must pay to acquire the stock . the company 2019s stock option plans are more fully described in note 14 . in december 2004 , the fasb issued sfas no . 123 ( revised 2004 ) , 201cshare-based payment 201d ( sfas 123r ) , as further described below . during the year ended december 31 , 2005 , the company reevaluated the assumptions used to estimate the fair value of stock options issued to employees . as a result , the company lowered its expected volatility assumption for options granted after july 1 , 2005 to approximately 30% ( 30 % ) and increased the expected life of option grants to 6.25 years using the simplified method permitted by sec sab no . 107 , 201dshare-based payment 201d ( sab no . 107 ) . the company made this change based on a number of factors , including the company 2019s execution of its strategic plans to sell non-core businesses , reduce leverage and refinance its debt , and its recent merger with spectrasite , inc . ( see note 2. ) management had previously based its volatility assumptions on historical volatility since inception , which included periods when the company 2019s capital structure was more highly leveraged than current levels and expected levels for the foreseeable future . management 2019s estimate of future volatility is based on its consideration of all available information , including historical volatility , implied volatility of publicly traded options , the company 2019s current capital structure and its publicly announced future business plans . for comparative purposes , a 10% ( 10 % ) change in the volatility assumption would change pro forma stock option expense and pro forma net loss by approximately $ 0.1 million for the year ended december 31 , 2005 . ( see note 14. ) the following table illustrates the effect on net loss and net loss per common share if the company had applied the fair value recognition provisions of sfas no . 123 ( as amended ) to stock-based compensation . the estimated fair value of each option is calculated using the black-scholes option-pricing model ( in thousands , except per share amounts ) : .
| | 2005 | 2004 | 2003 |
| :--- | :--- | :--- | :--- |
| Net loss as reported | $(171,590) | $(247,587) | $(325,321) |
| Add: Stock-based employee compensation expense, net of related tax effect, included in net loss as reported | 7,104 | 2,297 | 2,077 |
| Less: Total stock-based employee compensation expense determined under fair value based method for all awards, net of related taxeffect | (22,238) | (23,906) | (31,156) |
| Pro-forma net loss | $(186,724) | $(269,196) | $(354,400) |
| Basic and diluted net loss per share as reported | $(0.57) | $(1.10) | $(1.56) |
| Basic and diluted net loss per share pro-forma | $(0.62) | $(1.20) | $(1.70) |
the company has modified certain option awards to revise vesting and exercise terms for certain terminated employees and recognized charges of $ 7.0 million , $ 3.0 million and $ 2.3 million for the years ended december 31 , 2005 , 2004 and 2003 , respectively . in addition , the stock-based employee compensation amounts above for the year ended december 31 , 2005 , include approximately $ 2.4 million of unearned compensation amortization related to unvested stock options assumed in the merger with spectrasite , inc . such charges are reflected in impairments , net loss on sale of long-lived assets , restructuring and merger related expense with corresponding adjustments to additional paid-in capital and unearned compensation in the accompanying consolidated financial statements . recent accounting pronouncements 2014in december 2004 , the fasb issued sfas 123r , which supersedes apb no . 25 , and amends sfas no . 95 , 201cstatement of cash flows . 201d this statement addressed the accounting for share-based payments to employees , including grants of employee stock options . under the new standard .
| string | null | total_number_of_outstanding_shares_2004 = 269196 * 1000 / 1.20 / 1000000
answer = total_number_of_outstanding_shares_2004 |
what was the percent of the long-term debt junior subordinated debt and at december 31 , 2009 compared to december 31 , 2008 | 80.4000015259 | CodeFinQA | cgmhi also has substantial borrowing arrangements consisting of facilities that cgmhi has been advised are available , but where no contractual lending obligation exists . these arrangements are reviewed on an ongoing basis to ensure flexibility in meeting cgmhi 2019s short-term requirements . the company issues both fixed and variable rate debt in a range of currencies . it uses derivative contracts , primarily interest rate swaps , to effectively convert a portion of its fixed rate debt to variable rate debt and variable rate debt to fixed rate debt . the maturity structure of the derivatives generally corresponds to the maturity structure of the debt being hedged . in addition , the company uses other derivative contracts to manage the foreign exchange impact of certain debt issuances . at december 31 , 2009 , the company 2019s overall weighted average interest rate for long-term debt was 3.51% ( 3.51 % ) on a contractual basis and 3.91% ( 3.91 % ) including the effects of derivative contracts . aggregate annual maturities of long-term debt obligations ( based on final maturity dates ) including trust preferred securities are as follows: .
| In millions of dollars | 2010 | 2011 | 2012 | 2013 | 2014 | Thereafter |
| :--- | :--- | :--- | :--- | :--- | :--- | :--- |
| Citigroup parent company | $18,030 | $20,435 | $29,706 | $17,775 | $18,916 | $92,942 |
| Other Citigroup subsidiaries | 18,710 | 29,316 | 17,214 | 5,177 | 12,202 | 14,675 |
| Citigroup Global Markets Holdings Inc. | 1,315 | 1,030 | 1,686 | 388 | 522 | 8,481 |
| Citigroup Funding Inc. | 9,107 | 8,875 | 20,738 | 4,792 | 3,255 | 8,732 |
| Total | $47,162 | $59,656 | $69,344 | $28,132 | $34,895 | $124,830 |
long-term debt at december 31 , 2009 and december 31 , 2008 includes $ 19345 million and $ 24060 million , respectively , of junior subordinated debt . the company formed statutory business trusts under the laws of the state of delaware . the trusts exist for the exclusive purposes of ( i ) issuing trust securities representing undivided beneficial interests in the assets of the trust ; ( ii ) investing the gross proceeds of the trust securities in junior subordinated deferrable interest debentures ( subordinated debentures ) of its parent ; and ( iii ) engaging in only those activities necessary or incidental thereto . upon approval from the federal reserve , citigroup has the right to redeem these securities . citigroup has contractually agreed not to redeem or purchase ( i ) the 6.50% ( 6.50 % ) enhanced trust preferred securities of citigroup capital xv before september 15 , 2056 , ( ii ) the 6.45% ( 6.45 % ) enhanced trust preferred securities of citigroup capital xvi before december 31 , 2046 , ( iii ) the 6.35% ( 6.35 % ) enhanced trust preferred securities of citigroup capital xvii before march 15 , 2057 , ( iv ) the 6.829% ( 6.829 % ) fixed rate/floating rate enhanced trust preferred securities of citigroup capital xviii before june 28 , 2047 , ( v ) the 7.250% ( 7.250 % ) enhanced trust preferred securities of citigroup capital xix before august 15 , 2047 , ( vi ) the 7.875% ( 7.875 % ) enhanced trust preferred securities of citigroup capital xx before december 15 , 2067 , and ( vii ) the 8.300% ( 8.300 % ) fixed rate/floating rate enhanced trust preferred securities of citigroup capital xxi before december 21 , 2067 , unless certain conditions , described in exhibit 4.03 to citigroup 2019s current report on form 8-k filed on september 18 , 2006 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on november 28 , 2006 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on march 8 , 2007 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on july 2 , 2007 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on august 17 , 2007 , in exhibit 4.2 to citigroup 2019s current report on form 8-k filed on november 27 , 2007 , and in exhibit 4.2 to citigroup 2019s current report on form 8-k filed on december 21 , 2007 , respectively , are met . these agreements are for the benefit of the holders of citigroup 2019s 6.00% ( 6.00 % ) junior subordinated deferrable interest debentures due 2034 . citigroup owns all of the voting securities of these subsidiary trusts . these subsidiary trusts have no assets , operations , revenues or cash flows other than those related to the issuance , administration , and repayment of the subsidiary trusts and the subsidiary trusts 2019 common securities . these subsidiary trusts 2019 obligations are fully and unconditionally guaranteed by citigroup. .
| string | null | junior_subordinated_debt_2009 = 19345
junior_subordinated_debt_2008 = 24060
ratio = junior_subordinated_debt_2009 / junior_subordinated_debt_2008
answer = ratio * 100 |
what percent of total revenues net of interest expense was non-interest revenue in 2008? | 27 | CodeFinQA | local consumer lending local consumer lending ( lcl ) , which constituted approximately 65% ( 65 % ) of citi holdings by assets as of december 31 , 2009 , includes a portion of citigroup 2019s north american mortgage business , retail partner cards , western european cards and retail banking , citifinancial north america , primerica , student loan corporation and other local consumer finance businesses globally . at december 31 , 2009 , lcl had $ 358 billion of assets ( $ 317 billion in north america ) . about one-half of the assets in lcl as of december 31 , 2009 consisted of u.s . mortgages in the company 2019s citimortgage and citifinancial operations . the north american assets consist of residential mortgage loans , retail partner card loans , student loans , personal loans , auto loans , commercial real estate , and other consumer loans and assets . in millions of dollars 2009 2008 2007 % ( % ) change 2009 vs . 2008 % ( % ) change 2008 vs . 2007 .
| In millions of dollars | 2009 | 2008 | 2007 | % Change 2009 vs. 2008 | % Change 2008 vs. 2007 |
| :--- | :--- | :--- | :--- | :--- | :--- |
| Net interest revenue | $13,709 | $17,903 | $18,166 | (23)% | (1)% |
| Non-interest revenue | 5,473 | 6,550 | 8,584 | (16) | (24) |
| Total revenues, net of interest expense | $19,182 | $24,453 | $26,750 | (22)% | (9)% |
| Total operating expenses | $10,431 | $14,973 | $11,457 | (30)% | 31% |
| Net credit losses | $19,237 | $13,151 | $6,794 | 46% | 94% |
| Credit reserve build/(release) | 5,904 | 8,592 | 5,454 | (31) | 58 |
| Provision for benefits and claims | 1,055 | 1,191 | 765 | (11) | 56 |
| Provision for unfunded lending commitments | 3 | — | — | — | — |
| Provisions for loan losses and for benefits and claims | $26,199 | $22,934 | $13,013 | 14% | 76% |
| Income (loss) from continuing operations before taxes | $(17,448) | $(13,454) | $2,280 | (30)% | NM |
| Income taxes (benefits) | (7,405) | (5,200) | 568 | (42) | NM |
| Income (loss) from continuing operations | $(10,043) | $(8,254) | $1,712 | (22)% | NM |
| Net income attributable to noncontrolling interests | 32 | 12 | 34 | NM | (65)% |
| Net income (loss) | $(10,075) | $(8,266) | $1,678 | (22)% | NM |
| Average assets(in billions of dollars) | $390 | $461 | $496 | (15) | (7)% |
| Net credit losses as a percentage of average loans | 5.91% | 3.56% | 1.90% | | |
nm not meaningful 2009 vs . 2008 revenues , net of interest expense decreased 22% ( 22 % ) versus the prior year , mostly due to lower net interest revenue . net interest revenue was 23% ( 23 % ) lower than the prior year , primarily due to lower balances , de-risking of the portfolio , and spread compression . net interest revenue as a percentage of average loans decreased 63 basis points from the prior year , primarily due to the impact of higher delinquencies , interest write-offs , loan modification programs , higher fdic charges and card act implementation ( in the latter part of 2009 ) , partially offset by retail partner cards pricing actions . lcl results will continue to be impacted by the card act . citi currently estimates that the net impact on lcl revenues for 2010 could be a reduction of approximately $ 50 to $ 150 million . see also 201cnorth america regional consumer banking 201d and 201cmanaging global risk 2014credit risk 201d for additional information on the impact of the card act to citi 2019s credit card businesses . average loans decreased 12% ( 12 % ) , with north america down 11% ( 11 % ) and international down 19% ( 19 % ) . non-interest revenue decreased $ 1.1 billion mostly driven by the impact of higher credit losses flowing through the securitization trusts . operating expenses declined 30% ( 30 % ) from the prior year , due to lower volumes and reductions from expense re-engineering actions , and the impact of goodwill write-offs of $ 3.0 billion in the fourth quarter of 2008 , partially offset by higher other real estate owned and collection costs . provisions for loan losses and for benefits and claims increased 14% ( 14 % ) versus the prior year reflecting an increase in net credit losses of $ 6.1 billion , partially offset by lower reserve builds of $ 2.7 billion . higher net credit losses were primarily driven by higher losses of $ 3.6 billion in residential real estate lending , $ 1.0 billion in retail partner cards , and $ 0.7 billion in international . assets decreased $ 58 billion versus the prior year , primarily driven by lower originations , wind-down of specific businesses , asset sales , divestitures , write-offs and higher loan loss reserve balances . key divestitures in 2009 included the fi credit card business , italy consumer finance , diners europe , portugal cards , norway consumer , and diners club north america . 2008 vs . 2007 revenues , net of interest expense decreased 9% ( 9 % ) versus the prior year , mostly due to lower non-interest revenue . net interest revenue declined 1% ( 1 % ) versus the prior year . average loans increased 3% ( 3 % ) ; however , revenues declined , driven by lower balances , de-risking of the portfolio , and spread compression . non-interest revenue decreased $ 2 billion , primarily due to the impact of securitization in retail partners cards and the mark-to-market on the mortgage servicing rights asset and related hedge in real estate lending . operating expenses increased 31% ( 31 % ) , driven by the impact of goodwill write-offs of $ 3.0 billion in the fourth quarter of 2008 and restructuring costs . excluding one-time expenses , expenses were slightly higher due to increased volumes. .
| string | null | non_interest_revenue_2008 = 6550
non_interest_revenue_2007 = 8584
total_revenue_2008 = 24453
total_revenue_2007 = 26750
percent_non_interest_revenue_2008 = non_interest_revenue_2008 / total_revenue_2008
percent_non_interest_revenue_2007 = non_interest_revenue_2007 / total_revenue_2007
answer = percent_non_interest_revenue_2008 * 100 |
what portion of the net change in net revenue during 2004 is due to the change in volume/weather for entergy gulf states , inc? | 67.3000030518 | CodeFinQA | entergy gulf states , inc . management's financial discussion and analysis .
| | (In Millions) |
| :--- | :--- |
| 2003 net revenue | $1,110.1 |
| Volume/weather | 26.7 |
| Net wholesale revenue | 13.0 |
| Summer capacity charges | 5.5 |
| Price applied to unbilled sales | 4.8 |
| Fuel recovery revenues | (14.2) |
| Other | 3.9 |
| 2004 net revenue | $1,149.8 |
the volume/weather variance resulted primarily from an increase of 1179 gwh in electricity usage in the industrial sector . billed usage also increased a total of 291 gwh in the residential , commercial , and governmental sectors . the increase in net wholesale revenue is primarily due to an increase in sales volume to municipal and co-op customers . summer capacity charges variance is due to the amortization in 2003 of deferred capacity charges for the summer of 2001 compared to the absence of the amortization in 2004 . the amortization of these capacity charges began in june 2002 and ended in may 2003 . the price applied to unbilled sales variance resulted primarily from an increase in the fuel price applied to unbilled sales . fuel recovery revenues represent an under-recovery of fuel charges that are recovered in base rates . entergy gulf states recorded $ 22.6 million of provisions in 2004 for potential rate refunds . these provisions are not included in the net revenue table above because they are more than offset by provisions recorded in 2003 . gross operating revenues , fuel and purchased power expenses , and other regulatory credits gross operating revenues increased primarily due to an increase of $ 187.8 million in fuel cost recovery revenues as a result of higher fuel rates in both the louisiana and texas jurisdictions . the increases in volume/weather and wholesale revenue , discussed above , also contributed to the increase . fuel and purchased power expenses increased primarily due to : 2022 increased recovery of deferred fuel costs due to higher fuel rates ; 2022 increases in the market prices of natural gas , coal , and purchased power ; and 2022 an increase in electricity usage , discussed above . other regulatory credits increased primarily due to the amortization in 2003 of deferred capacity charges for the summer of 2001 compared to the absence of amortization in 2004 . the amortization of these charges began in june 2002 and ended in may 2003 . 2003 compared to 2002 net revenue , which is entergy gulf states' measure of gross margin , consists of operating revenues net of : 1 ) fuel , fuel-related , and purchased power expenses and 2 ) other regulatory credits . following is an analysis of the change in net revenue comparing 2003 to 2002. .
| string | null | net_revenue_2003 = 1149.8
net_revenue_2002 = 1110.1
change = net_revenue_2003 - net_revenue_2002
volume_weather_percent = 26.7 / change
answer = volume_weather_percent * 100 |
in 2016 what was the percent of the total operating leases that was due including terms greater than 12 months | 15 | CodeFinQA | 17 . leases we lease certain locomotives , freight cars , and other property . the consolidated statements of financial position as of december 31 , 2016 , and 2015 included $ 1997 million , net of $ 1121 million of accumulated depreciation , and $ 2273 million , net of $ 1189 million of accumulated depreciation , respectively , for properties held under capital leases . a charge to income resulting from the depreciation for assets held under capital leases is included within depreciation expense in our consolidated statements of income . future minimum lease payments for operating and capital leases with initial or remaining non-cancelable lease terms in excess of one year as of december 31 , 2016 , were as follows : millions operating leases capital leases .
| Millions | OperatingLeases | CapitalLeases |
| :--- | :--- | :--- |
| 2017 | $461 | $221 |
| 2018 | 390 | 193 |
| 2019 | 348 | 179 |
| 2020 | 285 | 187 |
| 2021 | 245 | 158 |
| Later years | 1,314 | 417 |
| Total minimum lease payments | $3,043 | $1,355 |
| Amount representing interest | N/A | (250) |
| Present value of minimum lease payments | N/A | $1,105 |
approximately 96% ( 96 % ) of capital lease payments relate to locomotives . rent expense for operating leases with terms exceeding one month was $ 535 million in 2016 , $ 590 million in 2015 , and $ 593 million in 2014 . when cash rental payments are not made on a straight-line basis , we recognize variable rental expense on a straight-line basis over the lease term . contingent rentals and sub-rentals are not significant . 18 . commitments and contingencies asserted and unasserted claims 2013 various claims and lawsuits are pending against us and certain of our subsidiaries . we cannot fully determine the effect of all asserted and unasserted claims on our consolidated results of operations , financial condition , or liquidity . to the extent possible , we have recorded a liability where asserted and unasserted claims are considered probable and where such claims can be reasonably estimated . we do not expect that any known lawsuits , claims , environmental costs , commitments , contingent liabilities , or guarantees will have a material adverse effect on our consolidated results of operations , financial condition , or liquidity after taking into account liabilities and insurance recoveries previously recorded for these matters . personal injury 2013 the cost of personal injuries to employees and others related to our activities is charged to expense based on estimates of the ultimate cost and number of incidents each year . we use an actuarial analysis to measure the expense and liability , including unasserted claims . the federal employers 2019 liability act ( fela ) governs compensation for work-related accidents . under fela , damages are assessed based on a finding of fault through litigation or out-of-court settlements . we offer a comprehensive variety of services and rehabilitation programs for employees who are injured at work . our personal injury liability is not discounted to present value due to the uncertainty surrounding the timing of future payments . approximately 94% ( 94 % ) of the recorded liability is related to asserted claims and approximately 6% ( 6 % ) is related to unasserted claims at december 31 , 2016 . because of the uncertainty surrounding the ultimate outcome of personal injury claims , it is reasonably possible that future costs to settle these claims may range from approximately $ 290 million to $ 317 million . we record an accrual at the low end of the range as no amount of loss within the range is more probable than any other . estimates can vary over time due to evolving trends in litigation. .
| string | null | operating_leases_2016 = 535
total_obligations = 535 + 3043
percent_obligations = operating_leases_2016 / total_obligations
answer = percent_obligations * 100 |
considering the years 2006-2009 , what is the value of the average additions? | 100491 | CodeFinQA | federal realty investment trust schedule iii summary of real estate and accumulated depreciation 2014continued three years ended december 31 , 2009 reconciliation of accumulated depreciation and amortization ( in thousands ) .
| Balance, December 31, 2006 | $740,507 |
| :--- | :--- |
| Additions during period—depreciation and amortization expense | 96,454 |
| Deductions during period—disposition and retirements of property | (80,258) |
| Balance, December 31, 2007 | 756,703 |
| Additions during period—depreciation and amortization expense | 101,321 |
| Deductions during period—disposition and retirements of property | (11,766) |
| Balance, December 31, 2008 | 846,258 |
| Additions during period—depreciation and amortization expense | 103.698 |
| Deductions during period—disposition and retirements of property | (11,869) |
| Balance, December 31, 2009 | $938,087 |
.
| string | null | a = 96454 + 101321
b = 1000 * 103.698
c = a + b
d = c / 3
answer = d |
what is the unrealized gain pre-tex for bolsa mexicana de valores? | 12 | CodeFinQA | subject to fluctuation and , consequently , the amount realized in the subsequent sale of an investment may differ significantly from its current reported value . fluctuations in the market price of a security may result from perceived changes in the underlying economic characteristics of the issuer , the relative price of alternative investments and general market conditions . the table below summarizes equity investments that are subject to equity price fluctuations at december 31 , 2012 . equity investments are included in other assets in our consolidated balance sheets . ( in millions ) carrying unrealized net of tax .
| (in millions) | CostBasis | FairValue | CarryingValue | UnrealizedGain,Net of Tax |
| :--- | :--- | :--- | :--- | :--- |
| BM&FBOVESPA S.A. | $262.9 | $690.6 | $690.6 | $271.4 |
| Bolsa Mexicana de Valores, S.A.B. de C.V. | 17.3 | 29.3 | 29.3 | 7.6 |
| IMAREX ASA | — | 1.8 | 1.8 | 1.1 |
we do not currently hedge against equity price risk . equity investments are assessed for other-than- temporary impairment on a quarterly basis. .
| string | null | bmv_bolsa_gain = 29.3
bmv_cost_basis = 17.3
bmv_unrealized_gain = bmv_bolsa_gain - bmv_cost_basis
answer = bmv_unrealized_gain |
what is the ratio of the warehouse space to the switching centers in square feet | 2.5999999046 | CodeFinQA | in particular , we have received commitments for $ 30.0 billion in debt financing to fund the transactions which is comprised of ( i ) a $ 4.0 billion secured revolving credit facility , ( ii ) a $ 7.0 billion term loan credit facility and ( iii ) a $ 19.0 billion secured bridge loan facility . our reliance on the financing from the $ 19.0 billion secured bridge loan facility commitment is intended to be reduced through one or more secured note offerings or other long-term financings prior to the merger closing . however , there can be no assurance that we will be able to issue any such secured notes or other long-term financings on terms we find acceptable or at all , especially in light of the recent debt market volatility , in which case we may have to exercise some or all of the commitments under the secured bridge facility to fund the transactions . accordingly , the costs of financing for the transactions may be higher than expected . credit rating downgrades could adversely affect the businesses , cash flows , financial condition and operating results of t-mobile and , following the transactions , the combined company . credit ratings impact the cost and availability of future borrowings , and , as a result , cost of capital . our current ratings reflect each rating agency 2019s opinion of our financial strength , operating performance and ability to meet our debt obligations or , following the completion of the transactions , obligations to the combined company 2019s obligors . each rating agency reviews these ratings periodically and there can be no assurance that such ratings will be maintained in the future . a downgrade in the rating of us and/or sprint could adversely affect the businesses , cash flows , financial condition and operating results of t- mobile and , following the transactions , the combined company . we have incurred , and will incur , direct and indirect costs as a result of the transactions . we have incurred , and will incur , substantial expenses in connection with and as a result of completing the transactions , and over a period of time following the completion of the transactions , the combined company also expects to incur substantial expenses in connection with integrating and coordinating our and sprint 2019s businesses , operations , policies and procedures . a portion of the transaction costs related to the transactions will be incurred regardless of whether the transactions are completed . while we have assumed that a certain level of transaction expenses will be incurred , factors beyond our control could affect the total amount or the timing of these expenses . many of the expenses that will be incurred , by their nature , are difficult to estimate accurately . these expenses will exceed the costs historically borne by us . these costs could adversely affect our financial condition and results of operations prior to the transactions and the financial condition and results of operations of the combined company following the transactions . item 1b . unresolved staff comments item 2 . properties as of december 31 , 2018 , our significant properties that we primarily lease and use in connection with switching centers , data centers , call centers and warehouses were as follows: .
| | Approximate Number | Approximate Size in Square Feet |
| :--- | :--- | :--- |
| Switching centers | 61 | 1,300,000 |
| Data centers | 6 | 500,000 |
| Call center | 17 | 1,300,000 |
| Warehouses | 21 | 500,000 |
as of december 31 , 2018 , we primarily leased : 2022 approximately 64000 macro towers and 21000 distributed antenna system and small cell sites . 2022 approximately 2200 t-mobile and metro by t-mobile retail locations , including stores and kiosks ranging in size from approximately 100 square feet to 17000 square feet . 2022 office space totaling approximately 1000000 square feet for our corporate headquarters in bellevue , washington . in january 2019 , we executed leases totaling approximately 170000 additional square feet for our corporate headquarters . we use these offices for engineering and administrative purposes . 2022 office space throughout the u.s. , totaling approximately 1700000 square feet , for use by our regional offices primarily for administrative , engineering and sales purposes. .
| string | null | warehouse_space = 1300000
switching_centers = 500000
ratio = warehouse_space / switching_centers
answer = ratio |
what is the amount of the decrease observed in the total net of cash collateral during 2017 and 2018 , in millions of dollars? | 2310 | CodeFinQA | jpmorgan chase & co./2018 form 10-k 117 lending-related commitments the firm uses lending-related financial instruments , such as commitments ( including revolving credit facilities ) and guarantees , to address the financing needs of its clients . the contractual amounts of these financial instruments represent the maximum possible credit risk should the clients draw down on these commitments or the firm fulfill its obligations under these guarantees , and the clients subsequently fail to perform according to the terms of these contracts . most of these commitments and guarantees are refinanced , extended , cancelled , or expire without being drawn upon or a default occurring . in the firm 2019s view , the total contractual amount of these wholesale lending-related commitments is not representative of the firm 2019s expected future credit exposure or funding requirements . for further information on wholesale lending-related commitments , refer to note 27 . clearing services the firm provides clearing services for clients entering into certain securities and derivative contracts . through the provision of these services the firm is exposed to the risk of non-performance by its clients and may be required to share in losses incurred by ccps . where possible , the firm seeks to mitigate its credit risk to its clients through the collection of adequate margin at inception and throughout the life of the transactions and can also cease provision of clearing services if clients do not adhere to their obligations under the clearing agreement . for further discussion of clearing services , refer to note 27 . derivative contracts derivatives enable clients and counterparties to manage risks including credit risk and risks arising from fluctuations in interest rates , foreign exchange , equities , and commodities . the firm makes markets in derivatives in order to meet these needs and uses derivatives to manage certain risks associated with net open risk positions from its market-making activities , including the counterparty credit risk arising from derivative receivables . the firm also uses derivative instruments to manage its own credit and other market risk exposure . the nature of the counterparty and the settlement mechanism of the derivative affect the credit risk to which the firm is exposed . for otc derivatives the firm is exposed to the credit risk of the derivative counterparty . for exchange-traded derivatives ( 201cetd 201d ) , such as futures and options , and 201ccleared 201d over-the-counter ( 201cotc-cleared 201d ) derivatives , the firm is generally exposed to the credit risk of the relevant ccp . where possible , the firm seeks to mitigate its credit risk exposures arising from derivative contracts through the use of legally enforceable master netting arrangements and collateral agreements . for a further discussion of derivative contracts , counterparties and settlement types , refer to note 5 . the following table summarizes the net derivative receivables for the periods presented . derivative receivables .
| December 31, (in millions) | 2018 | 2017 |
| :--- | :--- | :--- |
| Total, net of cash collateral | $54,213 | $56,523 |
| Liquid securities and other cash collateral held against derivative receivables<sup>(a)</sup> | (15,322) | (16,108) |
| Total, net of all collateral | $38,891 | $40,415 |
( a ) includes collateral related to derivative instruments where appropriate legal opinions have not been either sought or obtained with respect to master netting agreements . the fair value of derivative receivables reported on the consolidated balance sheets were $ 54.2 billion and $ 56.5 billion at december 31 , 2018 and 2017 , respectively . derivative receivables represent the fair value of the derivative contracts after giving effect to legally enforceable master netting agreements and cash collateral held by the firm . however , in management 2019s view , the appropriate measure of current credit risk should also take into consideration additional liquid securities ( primarily u.s . government and agency securities and other group of seven nations ( 201cg7 201d ) government securities ) and other cash collateral held by the firm aggregating $ 15.3 billion and $ 16.1 billion at december 31 , 2018 and 2017 , respectively , that may be used as security when the fair value of the client 2019s exposure is in the firm 2019s favor . in addition to the collateral described in the preceding paragraph , the firm also holds additional collateral ( primarily cash , g7 government securities , other liquid government-agency and guaranteed securities , and corporate debt and equity securities ) delivered by clients at the initiation of transactions , as well as collateral related to contracts that have a non-daily call frequency and collateral that the firm has agreed to return but has not yet settled as of the reporting date . although this collateral does not reduce the balances and is not included in the table above , it is available as security against potential exposure that could arise should the fair value of the client 2019s derivative contracts move in the firm 2019s favor . the derivative receivables fair value , net of all collateral , also does not include other credit enhancements , such as letters of credit . for additional information on the firm 2019s use of collateral agreements , refer to note 5 . while useful as a current view of credit exposure , the net fair value of the derivative receivables does not capture the potential future variability of that credit exposure . to capture the potential future variability of credit exposure , the firm calculates , on a client-by-client basis , three measures of potential derivatives-related credit loss : peak , derivative risk equivalent ( 201cdre 201d ) , and average exposure ( 201cavg 201d ) . these measures all incorporate netting and collateral benefits , where applicable . peak represents a conservative measure of potential exposure to a counterparty calculated in a manner that is broadly equivalent to a 97.5% ( 97.5 % ) confidence level over the life of the transaction . peak is the primary measure used by the firm for setting of credit limits for derivative contracts , senior management reporting and derivatives exposure management . dre exposure is a measure that expresses the risk of derivative exposure on a basis intended to be .
| string | null | decrease_in_collateral = 56523 - 54213
answer = decrease_in_collateral |
what percentage of north america gas comes from us onshore? | 78.7200012207 | CodeFinQA | likely than not that some portion or all of the deferred tax assets will not be realized . the accruals for deferred tax assets and liabilities are subject to a significant amount of judgment by management and are reviewed and adjusted routinely based on changes in facts and circumstances . material changes in these accruals may occur in the future , based on the progress of ongoing tax audits , changes in legislation and resolution of pending tax matters . forward-looking estimates we are providing our 2011 forward-looking estimates in this section . these estimates were based on our examination of historical operating trends , the information used to prepare our december 31 , 2010 , reserve reports and other data in our possession or available from third parties . the forward-looking estimates in this report were prepared assuming demand , curtailment , producibility and general market conditions for our oil , gas and ngls during 2011 will be similar to 2010 , unless otherwise noted . we make reference to the 201cdisclosure regarding forward-looking statements 201d at the beginning of this report . amounts related to our canadian operations have been converted to u.s . dollars using an estimated average 2011 exchange rate of $ 0.95 dollar to $ 1.00 canadian dollar . during 2011 , our operations are substantially comprised of our ongoing north america onshore operations . we also have international operations in brazil and angola that we are divesting . we have entered into agreements to sell our assets in brazil for $ 3.2 billion and our assets in angola for $ 70 million , plus contingent consideration . as a result of these divestitures , all revenues , expenses and capital related to our international operations are reported as discontinued operations in our financial statements . additionally , all forward-looking estimates in this document exclude amounts related to our international operations , unless otherwise noted . north america onshore operating items the following 2011 estimates relate only to our north america onshore assets . oil , gas and ngl production set forth below are our estimates of oil , gas and ngl production for 2011 . we estimate that our combined oil , gas and ngl production will total approximately 236 to 240 mmboe . ( mmbbls ) ( mmbbls ) ( mmboe ) .
| | Oil (MMBbls) | Gas (Bcf) | NGLs (MMBbls) | Total (MMBoe) |
| :--- | :--- | :--- | :--- | :--- |
| U.S. Onshore | 17 | 736 | 34 | 174 |
| Canada | 28 | 199 | 3 | 64 |
| North America Onshore | 45 | 935 | 37 | 238 |
oil and gas prices we expect our 2011 average prices for the oil and gas production from each of our operating areas to differ from the nymex price as set forth in the following table . the expected ranges for prices are exclusive of the anticipated effects of the financial contracts presented in the 201ccommodity price risk management 201d section below . the nymex price for oil is determined using the monthly average of settled prices on each trading day for benchmark west texas intermediate crude oil delivered at cushing , oklahoma . the nymex price for gas is determined using the first-of-month south louisiana henry hub price index as published monthly in inside .
| string | null | gas_na = 736
oil_na = 935
percent_gas_na = gas_na / oil_na * 100
answer = percent_gas_na |
what was the percentage change in revenues for investments in 50% ( 50 % ) or less owned investments accounted for using the equity method between 2001 and 2002? | 54 | CodeFinQA | affiliated company . the loss recorded on the sale was approximately $ 14 million and is recorded as a loss on sale of assets and asset impairment expenses in the accompanying consolidated statements of operations . in the second quarter of 2002 , the company recorded an impairment charge of approximately $ 40 million , after income taxes , on an equity method investment in a telecommunications company in latin america held by edc . the impairment charge resulted from sustained poor operating performance coupled with recent funding problems at the invested company . during 2001 , the company lost operational control of central electricity supply corporation ( 2018 2018cesco 2019 2019 ) , a distribution company located in the state of orissa , india . cesco is accounted for as a cost method investment . in may 2000 , the company completed the acquisition of 100% ( 100 % ) of tractebel power ltd ( 2018 2018tpl 2019 2019 ) for approximately $ 67 million and assumed liabilities of approximately $ 200 million . tpl owned 46% ( 46 % ) of nigen . the company also acquired an additional 6% ( 6 % ) interest in nigen from minority stockholders during the year ended december 31 , 2000 through the issuance of approximately 99000 common shares of aes stock valued at approximately $ 4.9 million . with the completion of these transactions , the company owns approximately 98% ( 98 % ) of nigen 2019s common stock and began consolidating its financial results beginning may 12 , 2000 . approximately $ 100 million of the purchase price was allocated to excess of costs over net assets acquired and was amortized through january 1 , 2002 at which time the company adopted sfas no . 142 and ceased amortization of goodwill . in august 2000 , a subsidiary of the company acquired a 49% ( 49 % ) interest in songas limited ( 2018 2018songas 2019 2019 ) for approximately $ 40 million . the company acquired an additional 16.79% ( 16.79 % ) of songas for approximately $ 12.5 million , and the company began consolidating this entity in 2002 . songas owns the songo songo gas-to-electricity project in tanzania . in december 2002 , the company signed a sales purchase agreement to sell songas . the sale is expected to close in early 2003 . see note 4 for further discussion of the transaction . the following table presents summarized comparative financial information ( in millions ) for the company 2019s investments in 50% ( 50 % ) or less owned investments accounted for using the equity method. .
| AS OF AND FOR THE YEARS ENDED DECEMBER 31, | 2002 | 2001 | 2000 |
| :--- | :--- | :--- | :--- |
| Revenues | $2,832 | $6,147 | $6,241 |
| Operating Income | 695 | 1,717 | 1,989 |
| Net Income | 229 | 650 | 859 |
| Current Assets | 1,097 | 3,700 | 2,423 |
| Noncurrent Assets | 6,751 | 14,942 | 13,080 |
| Current Liabilities | 1,418 | 3,510 | 3,370 |
| Noncurrent Liabilities | 3,349 | 8,297 | 5,927 |
| Stockholder's Equity | 3,081 | 6,835 | 6,206 |
in 2002 , 2001 and 2000 , the results of operations and the financial position of cemig were negatively impacted by the devaluation of the brazilian real and the impairment charge recorded in 2002 . the brazilian real devalued 32% ( 32 % ) , 19% ( 19 % ) and 8% ( 8 % ) for the years ended december 31 , 2002 , 2001 and 2000 , respectively . the company recorded $ 83 million , $ 210 million , and $ 64 million of pre-tax non-cash foreign currency transaction losses on its investments in brazilian equity method affiliates during 2002 , 2001 and 2000 , respectively. .
| string | null | revenue_2002 = 2832
revenue_2001 = 6147
change = revenue_2002 - revenue_2001
percent_change = change / revenue_2001
answer = percent_change * 100 |
how the cash flow from operations affected by the increase in inventories at lifo net in 2016? | 151100 | 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 | inventory_change = 4174768 - 4325868
answer = inventory_change |
what will be the rate of return for global payments from 2002 to 2003? | 5.8000001907 | CodeFinQA | stock performance graph the following line-graph presentation compares our cumulative shareholder returns with the standard & poor 2019s information technology index and the standard & poor 2019s 500 stock index for the past five years . the line graph assumes the investment of $ 100 in our common stock , the standard & poor 2019s information technology index , and the standard & poor 2019s 500 stock index on may 31 , 2002 and assumes reinvestment of all dividends . comparison of 5 year cumulative total return* among global payments inc. , the s&p 500 index and the s&p information technology index 5/02 5/03 5/04 5/05 5/06 5/07 global payments inc . s&p 500 s&p information technology * $ 100 invested on 5/31/02 in stock or index-including reinvestment of dividends . fiscal year ending may 31 . global payments s&p 500 information technology .
| | Global Payments | S&P 500 | S&P Information Technology |
| :--- | :--- | :--- | :--- |
| May 31, 2002 | $100.00 | $100.00 | $100.00 |
| May 31, 2003 | 94.20 | 91.94 | 94.48 |
| May 31, 2004 | 129.77 | 108.79 | 115.24 |
| May 31, 2005 | 193.30 | 117.75 | 116.29 |
| May 31, 2006 | 260.35 | 127.92 | 117.14 |
| May 31, 2007 | 224.24 | 157.08 | 144.11 |
issuer purchases of equity securities on april 5 , 2007 , our board of directors authorized repurchases of our common stock in an amount up to $ 100 million . the board has authorized us to purchase shares from time to time as market conditions permit . there is no expiration date with respect to this authorization . no amounts have been repurchased during the fiscal year ended may 31 , 2007. .
| string | null | global_payments_2003 = 94.20
global_payments_2002 = 100
rate_of_return = (global_payments_2003 - global_payments_2002) / global_payments_2002
answer = rate_of_return * 100 |
what are the total net assets in 2008 , ( in millions ) ? | 14448.7001953125 | CodeFinQA | foreign currency exchange rate risk many of our non-u.s . companies maintain both assets and liabilities in local currencies . therefore , foreign exchange rate risk is generally limited to net assets denominated in those foreign currencies . foreign exchange rate risk is reviewed as part of our risk management process . locally required capital levels are invested in home currencies in order to satisfy regulatory require- ments and to support local insurance operations regardless of currency fluctuations . the principal currencies creating foreign exchange risk for us are the british pound sterling , the euro , and the canadian dollar . the following table provides more information on our exposure to foreign exchange rate risk at december 31 , 2008 and 2007. .
| (in millions of U.S. dollars) | 2008 | 2007 |
| :--- | :--- | :--- |
| Fair value of net assets denominated in foreign currencies | $1,127 | $1,651 |
| Percentage of fair value of total net assets | 7.8% | 9.9% |
| Pre-tax impact on equity of hypothetical 10 percent strengthening of the U.S. dollar | $84 | $150 |
reinsurance of gmdb and gmib guarantees our net income is directly impacted by changes in the reserves calculated in connection with the reinsurance of variable annuity guarantees , primarily gmdb and gmib . these reserves are calculated in accordance with sop 03-1 ( sop reserves ) and changes in these reserves are reflected as life and annuity benefit expense , which is included in life underwriting income . in addition , our net income is directly impacted by the change in the fair value of the gmib liability ( fvl ) , which is classified as a derivative according to fas 133 . the fair value liability established for a gmib reinsurance contract represents the differ- ence between the fair value of the contract and the sop 03-1 reserves . changes in the fair value of the gmib liability , net of associated changes in the calculated sop 03-1 reserve , are reflected as realized gains or losses . ace views our variable annuity reinsurance business as having a similar risk profile to that of catastrophe reinsurance , with the probability of long-term economic loss relatively small at the time of pricing . adverse changes in market factors and policyholder behavior will have an impact on both life underwriting income and net income . when evaluating these risks , we expect to be compensated for taking both the risk of a cumulative long-term economic net loss , as well as the short-term accounting variations caused by these market movements . therefore , we evaluate this business in terms of its long-term eco- nomic risk and reward . the ultimate risk to the variable annuity guaranty reinsurance business is a long-term underperformance of investment returns , which can be exacerbated by a long-term reduction in interest rates . following a market downturn , continued market underperformance over a period of five to seven years would eventually result in a higher level of paid claims as policyholders accessed their guarantees through death or annuitization . however , if market conditions improved following a downturn , sop 03-1 reserves and fair value liability would fall reflecting a decreased likelihood of future claims , which would result in an increase in both life underwriting income and net income . as of december 31 , 2008 , management established the sop 03-1 reserve based on the benefit ratio calculated using actual market values at december 31 , 2008 . management exercises judgment in determining the extent to which short-term market movements impact the sop 03-1 reserve . the sop 03-1 reserve is based on the calculation of a long-term benefit ratio ( or loss ratio ) for the variable annuity guarantee reinsurance . despite the long-term nature of the risk the benefit ratio calculation is impacted by short-term market movements that may be judged by management to be temporary or transient . management will , in keeping with the language in sop 03-1 , regularly examine both quantitative and qualitative analysis and management will determine if , in its judgment , the change in the calculated benefit ratio is of sufficient magnitude and has persisted for a sufficient duration to warrant a change in the benefit ratio used to establish the sop 03-1 reserve . this has no impact on either premium received or claims paid nor does it impact the long-term profit or loss of the variable annuity guaran- tee reinsurance . the sop 03-1 reserve and fair value liability calculations are directly affected by market factors , including equity levels , interest rate levels , credit risk and implied volatilities , as well as policyholder behaviors , such as annuitization and lapse rates . the table below shows the sensitivity , as of december 31 , 2008 , of the sop 03-1 reserves and fair value liability associated with the variable annuity guarantee reinsurance portfolio . in addition , the tables below show the sensitivity of the fair value of specific derivative instruments held ( hedge value ) , which includes instruments purchased in january 2009 , to partially offset the risk in the variable annuity guarantee reinsurance portfolio . although these derivatives do not receive hedge accounting treatment , some portion of the change in value may be used to offset changes in the sop 03-1 reserve. .
| string | null | total_net_assets_2008 = 1127
percentage_of_fair_value_of_total_net_assets = 0.078
answer = total_net_assets_2008 / percentage_of_fair_value_of_total_net_assets |
what was the change in the balance in millions of nonperforming loans from 2012 to 2013? | 78 | CodeFinQA | troubled debt restructurings ( tdrs ) a tdr is a loan whose terms have been restructured in a manner that grants a concession to a borrower experiencing financial difficulties . tdrs result from our loss mitigation activities , and include rate reductions , principal forgiveness , postponement/reduction of scheduled amortization , and extensions , which are intended to minimize economic loss and to avoid foreclosure or repossession of collateral . additionally , tdrs also result from borrowers that have been discharged from personal liability through chapter 7 bankruptcy and have not formally reaffirmed their loan obligations to pnc . in those situations where principal is forgiven , the amount of such principal forgiveness is immediately charged off . some tdrs may not ultimately result in the full collection of principal and interest , as restructured , and result in potential incremental losses . these potential incremental losses have been factored into our overall alll estimate . the level of any subsequent defaults will likely be affected by future economic conditions . once a loan becomes a tdr , it will continue to be reported as a tdr until it is ultimately repaid in full , the collateral is foreclosed upon , or it is fully charged off . we held specific reserves in the alll of $ .5 billion and $ .6 billion at december 31 , 2013 and december 31 , 2012 , respectively , for the total tdr portfolio . table 70 : summary of troubled debt restructurings in millions dec . 31 dec . 31 .
| In millions | Dec. 312013 | Dec. 312012 |
| :--- | :--- | :--- |
| Total consumer lending | $2,161 | $2,318 |
| Total commercial lending | 578 | 541 |
| Total TDRs | $2,739 | $2,859 |
| Nonperforming | $1,511 | $1,589 |
| Accruing (a) | 1,062 | 1,037 |
| Credit card | 166 | 233 |
| Total TDRs | $2,739 | $2,859 |
( a ) accruing loans have demonstrated a period of at least six months of performance under the restructured terms and are excluded from nonperforming loans . loans where borrowers have been discharged from personal liability through chapter 7 bankruptcy and have not formally reaffirmed their loan obligations to pnc are not returned to accrual status . table 71 quantifies the number of loans that were classified as tdrs as well as the change in the recorded investments as a result of the tdr classification during 2013 , 2012 and 2011 . additionally , the table provides information about the types of tdr concessions . the principal forgiveness tdr category includes principal forgiveness and accrued interest forgiveness . these types of tdrs result in a write down of the recorded investment and a charge-off if such action has not already taken place . the rate reduction tdr category includes reduced interest rate and interest deferral . the tdrs within this category would result in reductions to future interest income . the other tdr category primarily includes consumer borrowers that have been discharged from personal liability through chapter 7 bankruptcy and have not formally reaffirmed their loan obligations to pnc , as well as postponement/reduction of scheduled amortization and contractual extensions for both consumer and commercial borrowers . in some cases , there have been multiple concessions granted on one loan . this is most common within the commercial loan portfolio . when there have been multiple concessions granted in the commercial loan portfolio , the principal forgiveness tdr was prioritized for purposes of determining the inclusion in the table below . for example , if there is principal forgiveness in conjunction with lower interest rate and postponement of amortization , the type of concession will be reported as principal forgiveness . second in priority would be rate reduction . for example , if there is an interest rate reduction in conjunction with postponement of amortization , the type of concession will be reported as a rate reduction . in the event that multiple concessions are granted on a consumer loan , concessions resulting from discharge from personal liability through chapter 7 bankruptcy without formal affirmation of the loan obligations to pnc would be prioritized and included in the other type of concession in the table below . after that , consumer loan concessions would follow the previously discussed priority of concessions for the commercial loan portfolio . 140 the pnc financial services group , inc . 2013 form 10-k .
| string | null | nonperforming_loans_2012 = 1589
nonperforming_loans_2011 = 1511
change_in_balance = nonperforming_loans_2012 - nonperforming_loans_2011
answer = change_in_balance |
what was the difference in percentage cumulative total shareowners 2019 returns for united parcel service inc . compared to the standard & poor's 500 index for the five years ended 12/31/2014? | 18.7399997711 | CodeFinQA | shareowner return performance graph the following performance graph and related information shall not be deemed 201csoliciting material 201d or to be 201cfiled 201d with the sec , nor shall such information be incorporated by reference into any future filing under the securities act of 1933 or securities exchange act of 1934 , each as amended , except to the extent that the company specifically incorporates such information by reference into such filing . the following graph shows a five year comparison of cumulative total shareowners 2019 returns for our class b common stock , the standard & poor 2019s 500 index , and the dow jones transportation average . the comparison of the total cumulative return on investment , which is the change in the quarterly stock price plus reinvested dividends for each of the quarterly periods , assumes that $ 100 was invested on december 31 , 2009 in the standard & poor 2019s 500 index , the dow jones transportation average , and our class b common stock. .
| | 12/31/2009 | 12/31/2010 | 12/31/2011 | 12/31/2012 | 12/31/2013 | 12/31/2014 |
| :--- | :--- | :--- | :--- | :--- | :--- | :--- |
| United Parcel Service, Inc. | $100.00 | $130.29 | $135.35 | $140.54 | $205.95 | $223.79 |
| Standard & Poor’s 500 Index | $100.00 | $115.06 | $117.48 | $136.26 | $180.38 | $205.05 |
| Dow Jones Transportation Average | $100.00 | $126.74 | $126.75 | $136.24 | $192.61 | $240.91 |
.
| string | null | a = 223.79 - 100
b = a / 100
c = 205.05 - 100
d = c / 100
e = b - d
answer = e * 100 |
for 2012 quarterly residential mortgage repurchase claims , what was the change in millions between originations from first and second quarter of 2007? | 10 | CodeFinQA | indemnification and repurchase claims are typically settled on an individual loan basis through make-whole payments or loan repurchases ; however , on occasion we may negotiate pooled settlements with investors . in connection with pooled settlements , we typically do not repurchase loans and the consummation of such transactions generally results in us no longer having indemnification and repurchase exposure with the investor in the transaction . for the first and second-lien mortgage balances of unresolved and settled claims contained in the tables below , a significant amount of these claims were associated with sold loans originated through correspondent lender and broker origination channels . in certain instances when indemnification or repurchase claims are settled for these types of sold loans , we have recourse back to the correspondent lenders , brokers and other third-parties ( e.g. , contract underwriting companies , closing agents , appraisers , etc. ) . depending on the underlying reason for the investor claim , we determine our ability to pursue recourse with these parties and file claims with them accordingly . our historical recourse recovery rate has been insignificant as our efforts have been impacted by the inability of such parties to reimburse us for their recourse obligations ( e.g. , their capital availability or whether they remain in business ) or factors that limit our ability to pursue recourse from these parties ( e.g. , contractual loss caps , statutes of limitations ) . origination and sale of residential mortgages is an ongoing business activity , and , accordingly , management continually assesses the need to recognize indemnification and repurchase liabilities pursuant to the associated investor sale agreements . we establish indemnification and repurchase liabilities for estimated losses on sold first and second-lien mortgages for which indemnification is expected to be provided or for loans that are expected to be repurchased . for the first and second- lien mortgage sold portfolio , we have established an indemnification and repurchase liability pursuant to investor sale agreements based on claims made , demand patterns observed to date and/or expected in the future , and our estimate of future claims on a loan by loan basis . to estimate the mortgage repurchase liability arising from breaches of representations and warranties , we consider the following factors : ( i ) borrower performance in our historically sold portfolio ( both actual and estimated future defaults ) , ( ii ) the level of outstanding unresolved repurchase claims , ( iii ) estimated probable future repurchase claims , considering information about file requests , delinquent and liquidated loans , resolved and unresolved mortgage insurance rescission notices and our historical experience with claim rescissions , ( iv ) the potential ability to cure the defects identified in the repurchase claims ( 201crescission rate 201d ) , and ( v ) the estimated severity of loss upon repurchase of the loan or collateral , make-whole settlement , or indemnification . see note 24 commitments and guarantees in the notes to consolidated financial statements in item 8 of this report for additional information . the following tables present the unpaid principal balance of repurchase claims by vintage and total unresolved repurchase claims for the past five quarters . table 28 : analysis of quarterly residential mortgage repurchase claims by vintage dollars in millions december 31 september 30 june 30 march 31 december 31 .
| Dollars in millions | December 31 2012 | September 30 2012 | June 30 2012 | March 31 2012 | December 312011 |
| :--- | :--- | :--- | :--- | :--- | :--- |
| 2004 & Prior | $11 | $15 | $31 | $10 | $11 |
| 2005 | 8 | 10 | 19 | 12 | 13 |
| 2006 | 23 | 30 | 56 | 41 | 28 |
| 2007 | 45 | 137 | 182 | 100 | 90 |
| 2008 | 7 | 23 | 49 | 17 | 18 |
| 2008 & Prior | 94 | 215 | 337 | 180 | 160 |
| 2009 – 2012 | 38 | 52 | 42 | 33 | 29 |
| Total | $132 | $267 | $379 | $213 | $189 |
| FNMA, FHLMC, and GNMA % | 94% | 87% | 86% | 88% | 91% |
the pnc financial services group , inc . 2013 form 10-k 79 .
| string | null | repurchase_claims_change = 100 - 90
answer = repurchase_claims_change |
what was the increase in total operating revenues in 2013? | 105 | 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_increase = 21963 / 20926
answer = revenue_increase * 100 |
what is change in percentage points in net income margin in 2011? | 27.3999996185 | CodeFinQA | entergy louisiana , llc and subsidiaries management 2019s financial discussion and analysis plan to spin off the utility 2019s transmission business see the 201cplan to spin off the utility 2019s transmission business 201d section of entergy corporation and subsidiaries management 2019s financial discussion and analysis for a discussion of this matter , including the planned retirement of debt and preferred securities . results of operations net income 2011 compared to 2010 net income increased $ 242.5 million primarily due to a settlement with the irs related to the mark-to-market income tax treatment of power purchase contracts , which resulted in a $ 422 million income tax benefit . the net income effect was partially offset by a $ 199 million regulatory charge , which reduced net revenue , because a portion of the benefit will be shared with customers . see note 3 to the financial statements for additional discussion of the settlement and benefit sharing . 2010 compared to 2009 net income decreased slightly by $ 1.4 million primarily due to higher other operation and maintenance expenses , a higher effective income tax rate , and higher interest expense , almost entirely offset by higher net revenue . net revenue 2011 compared to 2010 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 2011 to 2010 . amount ( in millions ) .
| | Amount (In Millions) |
| :--- | :--- |
| 2010 net revenue | $1,043.7 |
| Mark-to-market tax settlement sharing | (195.9) |
| Retail electric price | 32.5 |
| Volume/weather | 11.6 |
| Other | (5.7) |
| 2011 net revenue | $886.2 |
the mark-to-market tax settlement sharing variance results from a regulatory charge because a portion of the benefits of a settlement with the irs related to the mark-to-market income tax treatment of power purchase contracts will be shared with customers , slightly offset by the amortization of a portion of that charge beginning in october 2011 . see notes 3 and 8 to the financial statements for additional discussion of the settlement and benefit sharing . the retail electric price variance is primarily due to a formula rate plan increase effective may 2011 . see note 2 to the financial statements for discussion of the formula rate plan increase. .
| string | null | net_income_2011 = 242.5
revenue_2011 = 886.2
answer = net_income_2011 / revenue_2011 * 100 |
what was the average purchase price of company repurchased shares in 2013? | 73.0800018311 | CodeFinQA | edwards lifesciences corporation notes to consolidated financial statements ( continued ) 12 . employee benefit plans ( continued ) equity and debt securities are valued at fair value based on quoted market prices reported on the active markets on which the individual securities are traded . the insurance contracts are valued at the cash surrender value of the contracts , which is deemed to approximate its fair value . the following benefit payments , which reflect expected future service , as appropriate , at december 31 , 2014 , are expected to be paid ( in millions ) : .
| 2015 | $3.7 |
| :--- | :--- |
| 2016 | 5.5 |
| 2017 | 4.2 |
| 2018 | 4.2 |
| 2019 | 4.1 |
| 2020-2024 | 32.3 |
as of december 31 , 2014 , expected employer contributions for 2015 are $ 5.8 million . defined contribution plans the company 2019s employees in the united states and puerto rico are eligible to participate in a qualified 401 ( k ) and 1165 ( e ) plan , respectively . in the united states , participants may contribute up to 25% ( 25 % ) of their eligible compensation ( subject to tax code limitation ) to the plan . edwards lifesciences matches the first 3% ( 3 % ) of the participant 2019s annual eligible compensation contributed to the plan on a dollar-for-dollar basis . edwards lifesciences matches the next 2% ( 2 % ) of the participant 2019s annual eligible compensation to the plan on a 50% ( 50 % ) basis . in puerto rico , participants may contribute up to 25% ( 25 % ) of their annual compensation ( subject to tax code limitation ) to the plan . edwards lifesciences matches the first 4% ( 4 % ) of participant 2019s annual eligible compensation contributed to the plan on a 50% ( 50 % ) basis . the company also provides a 2% ( 2 % ) profit sharing contribution calculated on eligible earnings for each employee . matching contributions relating to edwards lifesciences employees were $ 12.8 million , $ 12.0 million , and $ 10.8 million in 2014 , 2013 , and 2012 , respectively . the company also has nonqualified deferred compensation plans for a select group of employees . the plans provide eligible participants the opportunity to defer eligible compensation to future dates specified by the participant with a return based on investment alternatives selected by the participant . the amount accrued under these nonqualified plans was $ 28.7 million and $ 25.9 million at december 31 , 2014 and 2013 , respectively . 13 . common stock treasury stock in may 2013 , the board of directors approved a stock repurchase program authorizing the company to purchase up to $ 750.0 million of the company 2019s common stock from time to time until december 31 , 2016 . in july 2014 , the board of directors approved a new stock repurchase program providing for an additional $ 750.0 million of repurchases without a specified end date . stock repurchased under these programs will be used to offset obligations under the company 2019s employee stock option programs and reduce the total shares outstanding . during 2014 , 2013 , and 2012 , the company repurchased 4.4 million , 6.8 million , and 4.0 million shares , respectively , at an aggregate cost of $ 300.9 million , $ 497.0 million , and $ 353.2 million , respectively , including shares purchased under the accelerated share repurchase ( 2018 2018asr 2019 2019 ) agreements described below and shares .
| string | null | price = 497.0
shares_repurchased = 6.8
average_price = price / shares_repurchased
answer = average_price |
what is the unfavorable foreign currency impact in operating expenses in 2016? | 90 | CodeFinQA | changes in the benchmark index component of the 10-year treasury yield . the company def signated these derivatives as cash flow hedges . on october 13 , 2015 , in conjunction with the pricing of the $ 4.5 billion senior notes , the companyr terminated these treasury lock contracts for a cash settlement payment of $ 16 million , which was recorded as a component of other comprehensive earnings and will be reclassified as an adjustment to interest expense over the ten years during which the related interest payments that were hedged will be recognized in income . foreign currency risk we are exposed to foreign currency risks that arise from normal business operations . these risks include the translation of local currency balances of foreign subsidiaries , transaction gains and losses associated with intercompany loans with foreign subsidiaries and transactions denominated in currencies other than a location's functional currency . we manage the exposure to these risks through a combination of normal operating activities and the use of foreign currency forward contracts . contracts are denominated in currtt encies of major industrial countries . our exposure to foreign currency exchange risks generally arises from our non-u.s . operations , to the extent they are conducted ind local currency . changes in foreign currency exchange rates affect translations of revenues denominated in currencies other than the u.s . dollar . during the years ended december 31 , 2016 , 2015 and 2014 , we generated approximately $ 1909 million , $ 1336 million and $ 1229 million , respectively , in revenues denominated in currencies other than the u.s . dollar . the major currencies to which our revenues are exposed are the brazilian real , the euro , the british pound sterling and the indian rupee . a 10% ( 10 % ) move in average exchange rates for these currencies ( assuming a simultaneous and immediate 10% ( 10 % ) change in all of such rates for the relevant period ) would have resulted in the following increase or ( decrease ) in our reported revenues for the years ended december 31 , 2016 , 2015 and 2014 ( in millions ) : .
| Currency | 2016 | 2015 | 2014 |
| :--- | :--- | :--- | :--- |
| Pound Sterling | $47 | $34 | $31 |
| Euro | 38 | 33 | 30 |
| Real | 32 | 29 | 38 |
| Indian Rupee | 12 | 10 | 8 |
| Total impact | $129 | $106 | $107 |
while our results of operations have been impacted by the effects of currency fluctuations , our international operations' revenues and expenses are generally denominated in local currency , which reduces our economic exposure to foreign exchange risk in those jurisdictions . revenues included $ 100 million and $ 243 million and net earnings included $ 10 million , anrr d $ 31 million , respectively , of unfavorable foreign currency impact during 2016 and 2015 resulting from a stronger u.s . dollar during these years compared to thet preceding year . in 2017 , we expect continued unfavorable foreign currency impact on our operating income resulting from the continued strengthening of the u.s . dollar vs . other currencies . our foreign exchange risk management policy permits the use of derivative instruments , such as forward contracts and options , to reduce volatility in our results of operations and/or cash flows resulting from foreign exchange rate fluctuations . we do not enter into foreign currency derivative instruments for trading purposes or to engage in speculative activitr y . we do periodically enter inttt o foreign currency forward exchange contracts to hedge foreign currency exposure to intercompany loans . as of december 31 , 2016 , the notional amount of these derivatives was approximately $ 143 million and the fair value was nominal . these derivatives are intended to hedge the foreign exchange risks related to intercompany loans but have not been designated as hedges for accounting purposes . we also use currency forward contracts to manage our exposure to fluctuations in costs caused by variations in indian rupee ( "inr" ) exchange rates . as of december 31 , 2016 , the notional amount of these derivatives was approximately $ 7 million and the fair value was ll less than $ 1 million . these inr forward contracts are designated as cash flow hedges . the fair value of these currency forward contracts is determined using currency exchange market rates , obtained from reliable , independent , third m party banks , at the balance sheet date . the fair value of forward contracts is subject to changes in currency exchange rates . the company has no ineffectiveness related to its use of currency forward contracts in connection with inr cash flow hedges . in conjunction with entering into the definitive agreement to acquire clear2pay in september 2014 , we initiated a foreign currency forward contract to purchase euros and sell u.s . dollars to manage the risk arising from fluctuations in exchange rates until the closing because the purchase price was stated in euros . as this derivative did not qualify for hedge accounting , we recorded a charge of $ 16 million in other income ( expense ) , net during the third quarter of 2014 . this forward contract was settled on october 1 , 2014. .
| string | null | unfavorable_foreign_currency_impact = 100
favorable_foreign_currency_impact = 10
answer = unfavorable_foreign_currency_impact - favorable_foreign_currency_impact |
what was the increase in gross margin percentage between 2011 and 2012? | 1.1000000238 | CodeFinQA | $ 43.3 million in 2011 compared to $ 34.1 million in 2010 . the retail segment represented 13% ( 13 % ) and 15% ( 15 % ) of the company 2019s total net sales in 2011 and 2010 , respectively . the retail segment 2019s operating income was $ 4.7 billion , $ 3.2 billion , and $ 2.3 billion during 2012 , 2011 , and 2010 respectively . these year-over-year increases in retail operating income were primarily attributable to higher overall net sales that resulted in significantly higher average revenue per store during the respective years . gross margin gross margin for 2012 , 2011 and 2010 are as follows ( in millions , except gross margin percentages ) : .
| | 2012 | 2011 | 2010 |
| :--- | :--- | :--- | :--- |
| Net sales | $156,508 | $108,249 | $65,225 |
| Cost of sales | 87,846 | 64,431 | 39,541 |
| Gross margin | $68,662 | $43,818 | $25,684 |
| Gross margin percentage | 43.9% | 40.5% | 39.4% |
the gross margin percentage in 2012 was 43.9% ( 43.9 % ) , compared to 40.5% ( 40.5 % ) in 2011 . this year-over-year increase in gross margin was largely driven by lower commodity and other product costs , a higher mix of iphone sales , and improved leverage on fixed costs from higher net sales . the increase in gross margin was partially offset by the impact of a stronger u.s . dollar . the gross margin percentage during the first half of 2012 was 45.9% ( 45.9 % ) compared to 41.4% ( 41.4 % ) during the second half of 2012 . the primary drivers of higher gross margin in the first half of 2012 compared to the second half are a higher mix of iphone sales and improved leverage on fixed costs from higher net sales . additionally , gross margin in the second half of 2012 was also affected by the introduction of new products with flat pricing that have higher cost structures and deliver greater value to customers , price reductions on certain existing products , higher transition costs associated with product launches , and continued strengthening of the u.s . dollar ; partially offset by lower commodity costs . the gross margin percentage in 2011 was 40.5% ( 40.5 % ) , compared to 39.4% ( 39.4 % ) in 2010 . this year-over-year increase in gross margin was largely driven by lower commodity and other product costs . the company expects to experience decreases in its gross margin percentage in future periods , as compared to levels achieved during 2012 , and the company anticipates gross margin of about 36% ( 36 % ) during the first quarter of 2013 . expected future declines in gross margin are largely due to a higher mix of new and innovative products with flat or reduced pricing that have higher cost structures and deliver greater value to customers and anticipated component cost and other cost increases . future strengthening of the u.s . dollar could further negatively impact gross margin . the foregoing statements regarding the company 2019s expected gross margin percentage in future periods , including the first quarter of 2013 , are forward-looking and could differ from actual results because of several factors including , but not limited to those set forth above in part i , item 1a of this form 10-k under the heading 201crisk factors 201d and those described in this paragraph . in general , gross margins and margins on individual products will remain under downward pressure due to a variety of factors , including continued industry wide global product pricing pressures , increased competition , compressed product life cycles , product transitions and potential increases in the cost of components , as well as potential increases in the costs of outside manufacturing services and a potential shift in the company 2019s sales mix towards products with lower gross margins . in response to competitive pressures , the company expects it will continue to take product pricing actions , which would adversely affect gross margins . gross margins could also be affected by the company 2019s ability to manage product quality and warranty costs effectively and to stimulate demand for certain of its products . due to the company 2019s significant international operations , financial results can be significantly affected in the short-term by fluctuations in exchange rates. .
| string | null | gross_margin_2011 = 40.5
gross_margin_2010 = 39.4
increase = gross_margin_2011 - gross_margin_2010
answer = increase |
what percentage of total mmboe have come from canada? | 26.8899993896 | CodeFinQA | likely than not that some portion or all of the deferred tax assets will not be realized . the accruals for deferred tax assets and liabilities are subject to a significant amount of judgment by management and are reviewed and adjusted routinely based on changes in facts and circumstances . material changes in these accruals may occur in the future , based on the progress of ongoing tax audits , changes in legislation and resolution of pending tax matters . forward-looking estimates we are providing our 2011 forward-looking estimates in this section . these estimates were based on our examination of historical operating trends , the information used to prepare our december 31 , 2010 , reserve reports and other data in our possession or available from third parties . the forward-looking estimates in this report were prepared assuming demand , curtailment , producibility and general market conditions for our oil , gas and ngls during 2011 will be similar to 2010 , unless otherwise noted . we make reference to the 201cdisclosure regarding forward-looking statements 201d at the beginning of this report . amounts related to our canadian operations have been converted to u.s . dollars using an estimated average 2011 exchange rate of $ 0.95 dollar to $ 1.00 canadian dollar . during 2011 , our operations are substantially comprised of our ongoing north america onshore operations . we also have international operations in brazil and angola that we are divesting . we have entered into agreements to sell our assets in brazil for $ 3.2 billion and our assets in angola for $ 70 million , plus contingent consideration . as a result of these divestitures , all revenues , expenses and capital related to our international operations are reported as discontinued operations in our financial statements . additionally , all forward-looking estimates in this document exclude amounts related to our international operations , unless otherwise noted . north america onshore operating items the following 2011 estimates relate only to our north america onshore assets . oil , gas and ngl production set forth below are our estimates of oil , gas and ngl production for 2011 . we estimate that our combined oil , gas and ngl production will total approximately 236 to 240 mmboe . ( mmbbls ) ( mmbbls ) ( mmboe ) .
| | Oil (MMBbls) | Gas (Bcf) | NGLs (MMBbls) | Total (MMBoe) |
| :--- | :--- | :--- | :--- | :--- |
| U.S. Onshore | 17 | 736 | 34 | 174 |
| Canada | 28 | 199 | 3 | 64 |
| North America Onshore | 45 | 935 | 37 | 238 |
oil and gas prices we expect our 2011 average prices for the oil and gas production from each of our operating areas to differ from the nymex price as set forth in the following table . the expected ranges for prices are exclusive of the anticipated effects of the financial contracts presented in the 201ccommodity price risk management 201d section below . the nymex price for oil is determined using the monthly average of settled prices on each trading day for benchmark west texas intermediate crude oil delivered at cushing , oklahoma . the nymex price for gas is determined using the first-of-month south louisiana henry hub price index as published monthly in inside .
| string | null | canada_oil_gas_ngls = 64
canada_total = 238
percent_canada_oil_gas_ngls = canada_oil_gas_ngls / canada_total
answer = percent_canada_oil_gas_ngls * 100 |
total transmission and distribution expenses in millions for the three year period equaled what? | 1691 | CodeFinQA | the following table provides a summary of our historical capital expenditures related to the upgrading of our infrastructure and systems: .
| | For the Years Ended December 31, |
| :--- | :--- |
| (In millions) | 2018 | 2017 | 2016 |
| Transmission and distribution | $572 | $551 | $568 |
| Treatment and pumping | 231 | 171 | 151 |
| Services, meter and fire hydrants | 303 | 281 | 297 |
| General structure and equipment | 371 | 281 | 202 |
| Sources of supply | 26 | 54 | 59 |
| Wastewater | 83 | 96 | 34 |
| Total capital expenditures | $1,586 | $1,434 | $1,311 |
in 2018 , our capital expenditures increased $ 152 million , or 10.6% ( 10.6 % ) , primarily due to investment across the majority of our infrastructure categories . in 2017 , our capital expenditures increased $ 123 million , or 9.4% ( 9.4 % ) , primarily due to investment in our general structure and equipment and wastewater categories . we also grow our business primarily through acquisitions of water and wastewater systems , as well as other water-related services . these acquisitions are complementary to our existing business and support continued geographical diversification and growth of our operations . generally , acquisitions are funded initially with short- term debt , and later refinanced with the proceeds from long-term debt . the following is a summary of the acquisitions and dispositions affecting our cash flows from investing activities : 2022 the majority of cash paid for acquisitions pertained to the $ 365 million purchase of pivotal within our homeowner services group . 2022 paid $ 33 million for 15 water and wastewater systems , representing approximately 14000 customers . 2022 received $ 35 million for the sale of assets , including $ 27 million for the sale of the majority of the o&m contracts in our contract services group during the third quarter of 2018 . 2022 the majority of cash paid for acquisitions pertained to the $ 159 million purchase of the wastewater collection and treatment system assets of the municipal authority of the city of mckeesport , pennsylvania ( the 201cmckeesport system 201d ) , excluding a $ 5 million non-escrowed deposit made in 2016 . 2022 paid $ 18 million for 16 water and wastewater systems , excluding the mckeesport system and shorelands ( a stock-for-stock transaction ) , representing approximately 7000 customers . 2022 received $ 15 million for the sale of assets . 2022 paid $ 199 million for 15 water and wastewater systems , representing approximately 42000 customers . 2022 made a non-escrowed deposit of $ 5 million related to the mckeesport system acquisition . 2022 received $ 9 million for the sale of assets . as previously noted , we expect to invest between $ 8.0 billion to $ 8.6 billion from 2019 to 2023 , with $ 7.3 billion of this range for infrastructure improvements in our regulated businesses . in 2019 , we expect to .
| string | null | table_row = [572, 551, 568] # row labeled transmission and distribution
a = sum(table_row) |
as of december 31 , 2010 , what was the percent of the maturities of the aggregate carrying value of long-term debt due in 2012 | 11.1999998093 | CodeFinQA | american tower corporation and subsidiaries notes to consolidated financial statements as of december 31 , 2010 and 2009 , the company had $ 295.4 million and $ 295.0 million net , respectively ( $ 300.0 million aggregate principal amount ) outstanding under the 7.25% ( 7.25 % ) notes . as of december 31 , 2010 and 2009 , the carrying value includes a discount of $ 4.6 million and $ 5.0 million , respectively . 5.0% ( 5.0 % ) convertible notes 2014the 5.0% ( 5.0 % ) convertible notes due 2010 ( 201c5.0% ( 201c5.0 % ) notes 201d ) matured on february 15 , 2010 , and interest was payable semiannually on february 15 and august 15 of each year . the 5.0% ( 5.0 % ) notes were convertible at any time into shares of the company 2019s class a common stock ( 201ccommon stock 201d ) at a conversion price of $ 51.50 per share , subject to adjustment in certain cases . as of december 31 , 2010 and 2009 , the company had none and $ 59.7 million outstanding , respectively , under the 5.0% ( 5.0 % ) notes . ati 7.25% ( 7.25 % ) senior subordinated notes 2014the ati 7.25% ( 7.25 % ) notes were issued with a maturity of december 1 , 2011 and interest was payable semi-annually in arrears on june 1 and december 1 of each year . the ati 7.25% ( 7.25 % ) notes were jointly and severally guaranteed on a senior subordinated basis by the company and substantially all of the wholly owned domestic restricted subsidiaries of ati and the company , other than spectrasite and its subsidiaries . the notes ranked junior in right of payment to all existing and future senior indebtedness of ati , the sister guarantors ( as defined in the indenture relating to the notes ) and their domestic restricted subsidiaries . the ati 7.25% ( 7.25 % ) notes were structurally senior in right of payment to all other existing and future indebtedness of the company , including the company 2019s senior notes , convertible notes and the revolving credit facility and term loan . during the year ended december 31 , 2010 , ati issued a notice for the redemption of the principal amount of its outstanding ati 7.25% ( 7.25 % ) notes . in accordance with the redemption provisions and the indenture for the ati 7.25% ( 7.25 % ) notes , the notes were redeemed at a price equal to 100.00% ( 100.00 % ) of the principal amount , plus accrued and unpaid interest up to , but excluding , september 23 , 2010 , for an aggregate purchase price of $ 0.3 million . as of december 31 , 2010 and 2009 , the company had none and $ 0.3 million , respectively , outstanding under the ati 7.25% ( 7.25 % ) notes . capital lease obligations and notes payable 2014the company 2019s capital lease obligations and notes payable approximated $ 46.3 million and $ 59.0 million as of december 31 , 2010 and 2009 , respectively . these obligations bear interest at rates ranging from 2.5% ( 2.5 % ) to 9.3% ( 9.3 % ) and mature in periods ranging from less than one year to approximately seventy years . maturities 2014as of december 31 , 2010 , aggregate carrying value of long-term debt , including capital leases , for the next five years and thereafter are estimated to be ( in thousands ) : year ending december 31 .
| 2011 | $74,896 |
| :--- | :--- |
| 2012 | 625,884 |
| 2013 | 618 |
| 2014 | 1,750,479 |
| 2015 | 600,489 |
| Thereafter | 2,541,858 |
| Total cash obligations | 5,594,224 |
| Unamortized discounts and premiums, net | (6,836) |
| Balance as of December 31, 2010 | $5,587,388 |
.
| string | null | aggregate_carrying_value_2012 = 625884
total_cash_obligations = 5587388
percent_aggregate_carrying_value_2012 = aggregate_carrying_value_2012 / total_cash_obligations
answer = percent_aggregate_carrying_value_2012 * 100 |
using a three year averageintermodal was what percent of total revenue? | 19.3999996185 | 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 , 201cupc 201d , 201cwe 201d , 201cus 201d , and 201cour 201d mean union pacific corporation and its subsidiaries , including union pacific railroad company , which will be separately referred to herein as 201cuprr 201d or the 201crailroad 201d . 1 . nature of operations operations and segmentation 2013 we are a class i railroad that operates in the u.s . our network includes 31898 route miles , linking pacific coast and gulf coast ports with the midwest and eastern u.s . gateways and providing several corridors to key mexican gateways . we own 26027 miles and operate on the remainder pursuant to trackage rights or leases . we serve the western two-thirds of the country and maintain coordinated schedules with other rail carriers for the handling of freight to and from the atlantic coast , the pacific coast , the southeast , the southwest , canada , and mexico . export and import traffic is moved through gulf coast and pacific coast ports and across the mexican and canadian borders . the railroad , along with its subsidiaries and rail affiliates , is our one reportable operating segment . although revenue is analyzed by commodity group , we analyze the net financial results of the railroad as one segment due to the integrated nature of our rail network . the following table provides freight revenue by commodity group : millions 2011 2010 2009 .
| <i>Millions</i> | <i>2011</i> | <i>2010</i> | <i>2009</i> |
| :--- | :--- | :--- | :--- |
| Agricultural | $3,324 | $3,018 | $2,666 |
| Automotive | 1,510 | 1,271 | 854 |
| Chemicals | 2,815 | 2,425 | 2,102 |
| Energy | 4,084 | 3,489 | 3,118 |
| Industrial Products | 3,166 | 2,639 | 2,147 |
| Intermodal | 3,609 | 3,227 | 2,486 |
| Total freight revenues | $18,508 | $16,069 | $13,373 |
| Other revenues | 1,049 | 896 | 770 |
| Total operatingrevenues | $19,557 | $16,965 | $14,143 |
although our revenues are principally derived from customers domiciled in the u.s. , the ultimate points of origination or destination for some products transported by us are outside the u.s . basis of presentation 2013 the consolidated financial statements are presented in accordance with accounting principles generally accepted in the u.s . ( gaap ) as codified in the financial accounting standards board ( fasb ) accounting standards codification ( asc ) . certain prior year amounts have been disaggregated to provide more detail and conform to the current period financial statement presentation . 2 . significant accounting policies principles of consolidation 2013 the consolidated financial statements include the accounts of union pacific corporation and all of its subsidiaries . investments in affiliated companies ( 20% ( 20 % ) to 50% ( 50 % ) owned ) are accounted for using the equity method of accounting . all intercompany transactions are eliminated . we currently have no less than majority-owned investments that require consolidation under variable interest entity requirements . cash and cash equivalents 2013 cash equivalents consist of investments with original maturities of three months or less . accounts receivable 2013 accounts receivable includes receivables reduced by an allowance for doubtful accounts . the allowance is based upon historical losses , credit worthiness of customers , and current economic conditions . receivables not expected to be collected in one year and the associated allowances are classified as other assets in our consolidated statements of financial position. .
| string | null | table_row = [3609, 3227, 2486] # row labeled intermodal
a = sum(table_row)
table_row = [18508, 16069, 13373] # row labeled total freight revenues
b = sum(table_row)
c = a / b * 100 |
as part of the is&gs results of operation what as the average operating profit from 2011 to 2013 | 813.5999755859 | CodeFinQA | aeronautics 2019 operating profit for 2012 increased $ 69 million , or 4% ( 4 % ) , compared to 2011 . the increase was attributable to higher operating profit of approximately $ 105 million from c-130 programs due to an increase in risk retirements ; about $ 50 million from f-16 programs due to higher aircraft deliveries partially offset by a decline in risk retirements ; approximately $ 50 million from f-35 production contracts due to increased production volume and risk retirements ; and about $ 50 million from the completion of purchased intangible asset amortization on certain f-16 contracts . partially offsetting the increases was lower operating profit of about $ 90 million from the f-35 development contract primarily due to the inception-to-date effect of reducing the profit booking rate in the second quarter of 2012 ; approximately $ 50 million from decreased production volume and risk retirements on the f-22 program partially offset by a resolution of a contractual matter in the second quarter of 2012 ; and approximately $ 45 million primarily due to a decrease in risk retirements on other sustainment activities partially offset by various other aeronautics programs due to increased risk retirements and volume . operating profit for c-5 programs was comparable to 2011 . adjustments not related to volume , including net profit booking rate adjustments and other matters described above , were approximately $ 30 million lower for 2012 compared to 2011 . backlog backlog decreased in 2013 compared to 2012 mainly due to lower orders on f-16 , c-5 , and c-130 programs , partially offset by higher orders on the f-35 program . backlog decreased in 2012 compared to 2011 mainly due to lower orders on f-35 and c-130 programs , partially offset by higher orders on f-16 programs . trends we expect aeronautics 2019 net sales to increase in 2014 in the mid-single digit percentage range as compared to 2013 primarily due to an increase in net sales from f-35 production contracts . operating profit is expected to increase slightly from 2013 , resulting in a slight decrease in operating margins between the years due to program mix . information systems & global solutions our is&gs business segment provides advanced technology systems and expertise , integrated information technology solutions , and management services across a broad spectrum of applications for civil , defense , intelligence , and other government customers . is&gs has a portfolio of many smaller contracts as compared to our other business segments . is&gs has been impacted by the continued downturn in federal information technology budgets . is&gs 2019 operating results included the following ( in millions ) : .
| | 2013 | 2012 | 2011 |
| :--- | :--- | :--- | :--- |
| Net sales | $8,367 | $8,846 | $9,381 |
| Operating profit | 759 | 808 | 874 |
| Operating margins | 9.1% | 9.1% | 9.3% |
| Backlog at year-end | 8,300 | 8,700 | 9,300 |
2013 compared to 2012 is&gs 2019 net sales decreased $ 479 million , or 5% ( 5 % ) , for 2013 compared to 2012 . the decrease was attributable to lower net sales of about $ 495 million due to decreased volume on various programs ( command and control programs for classified customers , ngi , and eram programs ) ; and approximately $ 320 million due to the completion of certain programs ( such as total information processing support services , the transportation worker identification credential ( twic ) , and odin ) . the decrease was partially offset by higher net sales of about $ 340 million due to the start-up of certain programs ( such as the disa gsm-o and the national science foundation antarctic support ) . is&gs 2019 operating profit decreased $ 49 million , or 6% ( 6 % ) , for 2013 compared to 2012 . the decrease was primarily attributable to lower operating profit of about $ 55 million due to certain programs nearing the end of their lifecycles , partially offset by higher operating profit of approximately $ 15 million due to the start-up of certain programs . adjustments not related to volume , including net profit booking rate adjustments and other matters , were comparable for 2013 compared to 2012 compared to 2011 is&gs 2019 net sales for 2012 decreased $ 535 million , or 6% ( 6 % ) , compared to 2011 . the decrease was attributable to lower net sales of approximately $ 485 million due to the substantial completion of various programs during 2011 ( primarily jtrs ; odin ; and u.k . census ) ; and about $ 255 million due to lower volume on numerous other programs ( primarily hanford; .
| string | null | average_operating_profit = (759 + 808) + 874
answer = average_operating_profit / 3 |
in millions for 2014 2013 and 2012 , what was the greatest amount of common share repurchases? | 42 | CodeFinQA | notes to consolidated financial statements guarantees of subsidiaries . group inc . fully and unconditionally guarantees the securities issued by gs finance corp. , a wholly-owned finance subsidiary of the group inc . has guaranteed the payment obligations of goldman , sachs & co . ( gs&co. ) , gs bank usa and goldman sachs execution & clearing , l.p . ( gsec ) , subject to certain exceptions . in november 2008 , the firm contributed subsidiaries into gs bank usa , and group inc . agreed to guarantee the reimbursement of certain losses , including credit-related losses , relating to assets held by the contributed entities . in connection with this guarantee , group inc . also agreed to pledge to gs bank usa certain collateral , including interests in subsidiaries and other illiquid assets . in addition , group inc . guarantees many of the obligations of its other consolidated subsidiaries on a transaction-by- transaction basis , as negotiated with counterparties . group inc . is unable to develop an estimate of the maximum payout under its subsidiary guarantees ; however , because these guaranteed obligations are also obligations of consolidated subsidiaries , group inc . 2019s liabilities as guarantor are not separately disclosed . note 19 . shareholders 2019 equity common equity dividends declared per common share were $ 2.25 in 2014 , $ 2.05 in 2013 and $ 1.77 in 2012 . on january 15 , 2015 , group inc . declared a dividend of $ 0.60 per common share to be paid on march 30 , 2015 to common shareholders of record on march 2 , 2015 . the firm 2019s share repurchase program is intended to help maintain the appropriate level of common equity . the share repurchase program is effected primarily through regular open-market purchases ( which may include repurchase plans designed to comply with rule 10b5-1 ) , the amounts and timing of which are determined primarily by the firm 2019s current and projected capital position , but which may also be influenced by general market conditions and the prevailing price and trading volumes of the firm 2019s common stock . prior to repurchasing common stock , the firm must receive confirmation that the federal reserve board does not object to such capital actions . the table below presents the amount of common stock repurchased by the firm under the share repurchase program during 2014 , 2013 and 2012. .
| | Year Ended December |
| :--- | :--- |
| <i>in millions, except per share amounts</i> | 2014 | 2013 | 2012 |
| Common share repurchases | 31.8 | 39.3 | 42.0 |
| Average cost per share | $171.79 | $157.11 | $110.31 |
| Total cost of common share repurchases | $ 5,469 | $ 6,175 | $ 4,637 |
total cost of common share repurchases $ 5469 $ 6175 $ 4637 pursuant to the terms of certain share-based compensation plans , employees may remit shares to the firm or the firm may cancel restricted stock units ( rsus ) or stock options to satisfy minimum statutory employee tax withholding requirements and the exercise price of stock options . under these plans , during 2014 , 2013 and 2012 , employees remitted 174489 shares , 161211 shares and 33477 shares with a total value of $ 31 million , $ 25 million and $ 3 million , and the firm cancelled 5.8 million , 4.0 million and 12.7 million of rsus with a total value of $ 974 million , $ 599 million and $ 1.44 billion . under these plans , the firm also cancelled 15.6 million stock options with a total value of $ 2.65 billion during 2014 . 170 goldman sachs 2014 annual report .
| string | null | table_row = [31.8, 39.3, 42.0] # row labeled common share repurchases
a = max(table_row) |
what is the total operating income for the fiscal year of 2013? | 512 | CodeFinQA | "three factor formula" ) . the consolidated financial statements include northrop grumman management and support services allocations totaling $ 32 million for the year ended december 31 , 2011 . shared services and infrastructure costs - this category includes costs for functions such as information technology support , systems maintenance , telecommunications , procurement and other shared services while hii was a subsidiary of northrop grumman . these costs were generally allocated to the company using the three factor formula or based on usage . the consolidated financial statements reflect shared services and infrastructure costs allocations totaling $ 80 million for the year ended december 31 , 2011 . northrop grumman-provided benefits - this category includes costs for group medical , dental and vision insurance , 401 ( k ) savings plan , pension and postretirement benefits , incentive compensation and other benefits . these costs were generally allocated to the company based on specific identification of the benefits provided to company employees participating in these benefit plans . the consolidated financial statements include northrop grumman- provided benefits allocations totaling $ 169 million for the year ended december 31 , 2011 . management believes that the methods of allocating these costs are reasonable , consistent with past practices , and in conformity with cost allocation requirements of cas or the far . related party sales and cost of sales prior to the spin-off , hii purchased and sold certain products and services from and to other northrop grumman entities . purchases of products and services from these affiliated entities , which were recorded at cost , were $ 44 million for the year ended december 31 , 2011 . sales of products and services to these entities were $ 1 million for the year ended december 31 , 2011 . former parent's equity in unit transactions between hii and northrop grumman prior to the spin-off have been included in the consolidated financial statements and were effectively settled for cash at the time the transaction was recorded . the net effect of the settlement of these transactions is reflected as former parent's equity in unit in the consolidated statement of changes in equity . 21 . unaudited selected quarterly data unaudited quarterly financial results for the years ended december 31 , 2013 and 2012 , are set forth in the following tables: .
| | Year Ended December 31, 2013 |
| :--- | :--- |
| ($ in millions, except per share amounts) | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr |
| Sales and service revenues | $1,562 | $1,683 | $1,637 | $1,938 |
| Operating income (loss) | 95 | 116 | 127 | 174 |
| Earnings (loss) before income taxes | 65 | 87 | 99 | 143 |
| Net earnings (loss) | 44 | 57 | 69 | 91 |
| Dividends declared per share | $0.10 | $0.10 | $0.10 | $0.20 |
| Basic earnings (loss) per share | $0.88 | $1.14 | $1.38 | $1.86 |
| Diluted earnings (loss) per share | $0.87 | $1.12 | $1.36 | $1.82 |
.
| string | null | total_operating_income = 95 + 116 + 127 + 174
answer = total_operating_income |
what are the total pre-tax catastrophe losses in the last 3 years?\\n | 667.200012207 | CodeFinQA | available information . the company 2019s annual reports on form 10-k , quarterly reports on form 10-q , current reports on form 8- k , proxy statements and amendments to those reports are available free of charge through the company 2019s internet website at http://www.everestregroup.com as soon as reasonably practicable after such reports are electronically filed with the securities and exchange commission ( the 201csec 201d ) . item 1a . risk factors in addition to the other information provided in this report , the following risk factors should be considered when evaluating an investment in our securities . if the circumstances contemplated by the individual risk factors materialize , our business , financial condition and results of operations could be materially and adversely affected and the trading price of our common shares could decline significantly . risks relating to our business fluctuations in the financial markets could result in investment losses . prolonged and severe disruptions in the overall public debt and equity markets , such as occurred during 2008 , could result in significant realized and unrealized losses in our investment portfolio . although financial markets have significantly improved since 2008 , they could deteriorate in the future . there could also be disruption in individual market sectors , such as occurred in the energy sector during the fourth quarter of 2014 . such declines in the financial markets could result in significant realized and unrealized losses on investments and could have a material adverse impact on our results of operations , equity , business and insurer financial strength and debt ratings . our results could be adversely affected by catastrophic events . we are exposed to unpredictable catastrophic events , including weather-related and other natural catastrophes , as well as acts of terrorism . any material reduction in our operating results caused by the occurrence of one or more catastrophes could inhibit our ability to pay dividends or to meet our interest and principal payment obligations . subsequent to april 1 , 2010 , we define a catastrophe as an event that causes a loss on property exposures before reinsurance of at least $ 10.0 million , before corporate level reinsurance and taxes . prior to april 1 , 2010 , we used a threshold of $ 5.0 million . by way of illustration , during the past five calendar years , pre-tax catastrophe losses , net of contract specific reinsurance but before cessions under corporate reinsurance programs , were as follows: .
| Calendar year: | Pre-tax catastrophe losses |
| :--- | :--- |
| (Dollars in millions) | |
| 2014 | $62.2 |
| 2013 | 195.0 |
| 2012 | 410.0 |
| 2011 | 1,300.4 |
| 2010 | 571.1 |
our losses from future catastrophic events could exceed our projections . we use projections of possible losses from future catastrophic events of varying types and magnitudes as a strategic underwriting tool . we use these loss projections to estimate our potential catastrophe losses in certain geographic areas and decide on the placement of retrocessional coverage or other actions to limit the extent of potential losses in a given geographic area . these loss projections are approximations , reliant on a mix of quantitative and qualitative processes , and actual losses may exceed the projections by a material amount , resulting in a material adverse effect on our financial condition and results of operations. .
| string | null | pre_tax_catastrophe_losses_last_3_years = 62.2 + 195.0 + 410.0
answer = pre_tax_catastrophe_losses_last_3_years |
at march 31 , 2006 , how much loss could be recognized if they sold the held-to-maturity investment portfolio? | 99000 | CodeFinQA | abiomed , inc . and subsidiaries notes to consolidated financial statements 2014 ( continued ) the calculation of diluted weighted-average shares outstanding for the fiscal years ended march 31 , 2004 , 2005 and 2006 excludes potential stock from unexercised stock options that have an exercise price below the average market price as shown below . year ended march 31 , potential dilutive shares from exercise of common stock options .
| Year Ended March 31, | Potential Dilutive Shares from Exercise of Common Stock Options |
| :--- | :--- |
| 2004 | 222,593 |
| 2005 | 980,147 |
| 2006 | 577,845 |
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 . for the fiscal years ending march 31 , 2004 , 2005 and 2006 , the weighted average number of these potential shares totaled 1908347 , 825014 and 1417130 shares , respectively . the calculation of diluted weighted average shares outstanding for these fiscal years also excludes warrants to purchase 400000 share of common stock issued in connection with the acquisition of intellectual property ( see note 5 ) . ( 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 . at march 31 , 2005 and march 31 , 2006 , the company had restricted cash of approximately $ 97000 and $ 261000 , respectively , which are included in other assets at march 31 , 2005 and prepaid expenses and other current assets at march 31 , 2006 , respectively . this cash represents security deposits held in the company 2019s european banks for certain facility and auto leases . ( l ) marketable securities and long-term investments 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 based upon the ability and intent of the company . in accordance with 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 . at march 31 , 2006 the held-to-maturity investment portfolio consisted primarily of government securities and corporate bonds with maturities of one year or less . the amortized cost , including interest receivable , and market value of held 2013to-maturity short-term marketable securities were approximately $ 29669000 and $ 29570000 at march 31 , 2005 , and $ 16901000 and $ 16866000 at march 31 , 2006 , respectively . the company has classified its portion of the investment portfolio consisting of corporate asset-backed securities as available-for 2013sale securities . the cost of these securities approximates market value and was $ 4218000 at march 31 , 2005 and $ 6102000 at march 31 , 2006 . principal payments of these available-for-sale securities are typically made on an expected pre-determined basis rather than on the longer contractual maturity date. .
| string | null | held_to_maturity_investment_portfolio = 29669000
market_value_of_securities = 29570000
answer = held_to_maturity_investment_portfolio - market_value_of_securities |
what was the difference in percentage return for lilly compared to the peer group for the five years ended dec-18? | 123.3199996948 | CodeFinQA | performance graph this graph compares the return on lilly stock with that of the standard & poor 2019s 500 stock index and our peer group for the years 2014 through 2018 . the graph assumes that , on december 31 , 2013 , a person invested $ 100 each in lilly stock , the s&p 500 stock index , and the peer groups' common stock . the graph measures total shareholder return , which takes into account both stock price and dividends . it assumes that dividends paid by a company are reinvested in that company 2019s stock . value of $ 100 invested on last business day of 2013 comparison of five-year cumulative total return among lilly , s&p 500 stock index , peer group ( 1 ) .
| | Lilly | Peer Group | S&P 500 |
| :--- | :--- | :--- | :--- |
| Dec-13 | $100.00 | $100.00 | $100.00 |
| Dec-14 | $139.75 | $114.39 | $113.69 |
| Dec-15 | $175.21 | $116.56 | $115.26 |
| Dec-16 | $157.03 | $112.80 | $129.05 |
| Dec-17 | $185.04 | $128.90 | $157.22 |
| Dec-18 | $259.88 | $136.56 | $150.33 |
( 1 ) we constructed the peer group as the industry index for this graph . it comprises the companies in the pharmaceutical and biotech industries that we used to benchmark the compensation of our executive officers for 2018 : abbvie inc. ; amgen inc. ; astrazeneca plc ; baxter international inc. ; biogen idec inc. ; bristol-myers squibb company ; celgene corporation ; gilead sciences inc. ; glaxosmithkline plc ; johnson & johnson ; medtronic plc ; merck & co. , inc. ; novartis ag. ; pfizer inc. ; roche holdings ag ; sanofi ; and shire plc. .
| string | null | lilly_return = 259.88
peer_group_return = 136.56
s_and_p_500_return = 150.33
initial_investment = 100
percent_change_lilly = (lilly_return - initial_investment) / initial_investment
percent_change_peer_group = (peer_group_return - initial_investment) / initial_investment
percent_change_s_and_p_500 = (s_and_p_500_return - initial_investment) / initial_investment
percent_change_difference = percent_change_lilly - percent_change_peer_group
answer = percent_change_difference * 100 |
for 2012 and 2011 , percentage rentals based on tenants 2019 sales totaled what in thousands? | 16461000 | CodeFinQA | vornado realty trust notes to consolidated financial statements ( continued ) 20 . leases as lessor : we lease space to tenants under operating leases . most of the leases provide for the payment of fixed base rentals payable monthly in advance . office building leases generally require the tenants to reimburse us for operating costs and real estate taxes above their base year costs . shopping center leases provide for pass-through to tenants the tenant 2019s share of real estate taxes , insurance and maintenance . shopping center leases also provide for the payment by the lessee of additional rent based on a percentage of the tenants 2019 sales . as of december 31 , 2012 , future base rental revenue under non-cancelable operating leases , excluding rents for leases with an original term of less than one year and rents resulting from the exercise of renewal options , are as follows : ( amounts in thousands ) year ending december 31: .
| 2013 | $1,842,355 |
| :--- | :--- |
| 2014 | 1,738,439 |
| 2015 | 1,578,559 |
| 2016 | 1,400,020 |
| 2017 | 1,249,904 |
| Thereafter | 6,134,903 |
these amounts do not include percentage rentals based on tenants 2019 sales . these percentage rents approximated $ 8466000 , $ 7995000 and $ 7339000 , for the years ended december 31 , 2012 , 2011 and 2010 , respectively . none of our tenants accounted for more than 10% ( 10 % ) of total revenues in any of the years ended december 31 , 2012 , 2011 and 2010 . former bradlees locations pursuant to a master agreement and guaranty , dated may 1 , 1992 , we were due $ 5000000 of annual rent from stop & shop which was allocated to certain bradlees former locations . on december 31 , 2002 , prior to the expiration of the leases to which the additional rent was allocated , we reallocated this rent to other former bradlees leases also guaranteed by stop & shop . stop & shop contested our right to reallocate the rent . on november 7 , 2011 , the court determined that we had a continuing right to allocate the annual rent to unexpired leases covered by the master agreement and guaranty and directed entry of a judgment in our favor ordering stop & shop to pay us the unpaid annual rent . at december 31 , 2012 , we had a $ 47900000 receivable from stop and shop , which is included as a component of 201ctenant and other receivables 201d on our consolidated balance sheet . on february 6 , 2013 , we received $ 124000000 pursuant to a settlement agreement with stop & shop ( see note 22 2013 commitments and contingencies 2013 litigation ) . .
| string | null | rent_2012 = 8466000
rent_2011 = 7995000
total_rent = rent_2012 + rent_2011
answer = total_rent |
as a result of the addition of income taxes recovered through rates , how much did total regulatory liabilities increase from 2016 to 2017? | 313 | CodeFinQA | regulatory balancing accounts accumulate differences between revenues recognized and authorized revenue requirements until they are collected from customers or are refunded . regulatory balancing accounts include low income programs and purchased power and water accounts . debt expense is amortized over the lives of the respective issues . call premiums on the redemption of long- term debt , as well as unamortized debt expense , are deferred and amortized to the extent they will be recovered through future service rates . as a result of american water capital corp . 2019s prepayment of the 5.62% ( 5.62 % ) series c senior notes due december 21 , 2018 ( 201cseries c senior notes 201d ) and 5.77% ( 5.77 % ) series d senior notes due december 21 , 2021 ( 201cseries d senior notes 201d ) and payment of a make-whole premium amount to the holders thereof of $ 34 million , the company recorded a $ 6 million charge resulting from the early extinguishment of debt at the parent company . substantially all of the early debt extinguishment costs allocable to the company 2019s utility subsidiaries were recorded as regulatory assets that the company believes are probable of recovery in future rates . approximately $ 1 million of the early debt extinguishment costs allocable to the company 2019s utility subsidiaries was amortized in 2017 . purchase premium recoverable through rates is primarily the recovery of the acquisition premiums related to an asset acquisition by the company 2019s california utility subsidiary during 2002 , and acquisitions in 2007 by the company 2019s new jersey utility subsidiary . as authorized for recovery by the california and new jersey pucs , these costs are being amortized to depreciation and amortization in the consolidated statements of operations through november 2048 . tank painting costs are generally deferred and amortized to operations and maintenance expense in the consolidated statements of operations on a straight-line basis over periods ranging from two to fifteen years , as authorized by the regulatory authorities in their determination of rates charged for service . other regulatory assets include certain construction costs for treatment facilities , property tax stabilization , employee-related costs , deferred other postretirement benefit expense , business services project expenses , coastal water project costs , rate case expenditures and environmental remediation costs among others . these costs are deferred because the amounts are being recovered in rates or are probable of recovery through rates in future periods . regulatory liabilities regulatory liabilities generally represent amounts that are probable of being credited or refunded to customers through the rate-making process . also , if costs expected to be incurred in the future are currently being recovered through rates , the company records those expected future costs as regulatory liabilities . the following table summarizes the composition of regulatory liabilities as of december 31: .
| | 2017 | 2016 |
| :--- | :--- | :--- |
| Income taxes recovered through rates | $1,242 | $— |
| Removal costs recovered through rates | 315 | 316 |
| Pension and other postretirement benefit balancing accounts | 48 | 55 |
| Other | 59 | 32 |
| Total Regulatory Liabilities | $1,664 | $403 |
income taxes recovered through rates relate to deferred taxes that will likely be refunded to the company 2019s customers . on december 22 , 2017 , the tcja was signed into law , which , among other things , enacted significant and complex changes to the internal revenue code of 1986 , including a reduction in the maximum u.s . federal corporate income tax rate from 35% ( 35 % ) to 21% ( 21 % ) as of january 1 , 2018 . the tcja created significant .
| string | null | regulatory_liabilities_2017 = 1664
regulatory_liabilities_2016 = 403
difference = regulatory_liabilities_2017 - regulatory_liabilities_2016
percent_change = difference / regulatory_liabilities_2016
answer = percent_change * 100 |
for net cash provided by operating activities in 2013 , how much was lost due to the decrease in net income? | 47.9000015259 | CodeFinQA | management 2019s discussion and analysis of financial condition and results of operations 2013 ( continued ) ( amounts in millions , except per share amounts ) corporate and other expenses decreased slightly during 2012 by $ 4.7 to $ 137.3 compared to 2011 , primarily due to lower office and general expenses , partially offset by an increase in temporary help to support our information-technology system-upgrade initiatives . liquidity and capital resources cash flow overview the following tables summarize key financial data relating to our liquidity , capital resources and uses of capital. .
| | Years ended December 31, |
| :--- | :--- |
| Cash Flow Data | 2013 | 2012 | 2011 |
| Net income, adjusted to reconcile net income to net cashprovided by operating activities<sup>1</sup> | $598.4 | $697.2 | $735.7 |
| Net cash used in working capital ² | (9.6) | (293.2) | (359.4) |
| Changes in other non-current assets and liabilities using cash | 4.1 | (46.8) | (102.8) |
| Net cash provided by operating activities | $592.9 | $357.2 | $273.5 |
| Net cash used in investing activities | (224.5) | (210.2) | (58.8) |
| Net cash (used in) provided by financing activities | (1,212.3) | 131.3 | (541.0) |
1 reflects net income adjusted primarily for depreciation and amortization of fixed assets and intangible assets , amortization of restricted stock and other non-cash compensation , non-cash loss related to early extinguishment of debt , and deferred income taxes . 2 reflects changes in accounts receivable , expenditures billable to clients , other current assets , accounts payable and accrued liabilities . operating activities net cash provided by operating activities during 2013 was $ 592.9 , which was an increase of $ 235.7 as compared to 2012 , primarily as a result of an improvement in working capital usage of $ 283.6 , offset by a decrease in net income . due to the seasonality of our business , we typically generate cash from working capital in the second half of a year and use cash from working capital in the first half of a year , with the largest impacts in the first and fourth quarters . the improvement in working capital in 2013 was impacted by our media businesses and an ongoing focus on working capital management at our agencies . net cash provided by operating activities during 2012 was $ 357.2 , which was an increase of $ 83.7 as compared to 2011 , primarily as a result of a decrease in working capital usage of $ 66.2 . the net working capital usage in 2012 was primarily impacted by our media businesses . the timing of media buying on behalf of our clients affects our working capital and operating cash flow . in most of our businesses , our agencies enter into commitments to pay production and media costs on behalf of clients . to the extent possible we pay production and media charges after we have received funds from our clients . the amounts involved substantially exceed our revenues , and primarily affect the level of accounts receivable , expenditures billable to clients , accounts payable and accrued liabilities . our assets include both cash received and accounts receivable from clients for these pass-through arrangements , while our liabilities include amounts owed on behalf of clients to media and production suppliers . our accrued liabilities are also affected by the timing of certain other payments . for example , while annual cash incentive awards are accrued throughout the year , they are generally paid during the first quarter of the subsequent year . investing activities net cash used in investing activities during 2013 primarily relates to payments for capital expenditures and acquisitions . capital expenditures of $ 173.0 relate primarily to computer hardware and software and leasehold improvements . we made payments of $ 61.5 related to acquisitions completed during 2013. .
| string | null | working_capital_2013 = 283.6
working_capital_2012 = 235.7
change = working_capital_2013 - working_capital_2012
answer = change |
what was the percentage change in the expected volatility 2014nasdaq composite index from 2015 to 2016 16% ( 16 % ) 14% ( 14 % ) | 14.3000001907 | CodeFinQA | table of contents .
| | Year Ended December 31, |
| :--- | :--- |
| Assumptions used in Monte Carlo lattice pricing model | 2016 | 2015 | 2014 |
| Risk-free interest rate | 1.0% | 1.1% | 0.7% |
| Expected dividend yield | —% | —% | —% |
| Expected volatility—ANSYS stock price | 21% | 23% | 25% |
| Expected volatility—NASDAQ Composite Index | 16% | 14% | 15% |
| Expected term | 2.8 years | 2.8 years | 2.8 years |
| Correlation factor | 0.65 | 0.60 | 0.70 |
the company issued 35000 , 115485 and 39900 performance-based restricted stock awards during 2016 , 2015 and 2014 , respectively . of the cumulative performance-based restricted stock awards issued , defined operating metrics were assigned to 63462 , 51795 and 20667 awards with grant-date fair values of $ 84.61 , $ 86.38 and $ 81.52 during 2016 , 2015 and 2014 , respectively . the grant-date fair value of the awards is being recorded from the grant date through the conclusion of the measurement period associated with each operating metric based on management's estimates concerning the probability of vesting . as of december 31 , 2016 , 7625 units of the total 2014 awards granted were earned and will be issued in 2017 . total compensation expense associated with the awards recorded for the years ended december 31 , 2016 , 2015 and 2014 was $ 0.4 million , $ 0.4 million and $ 0.1 million , respectively . in addition , in 2016 , 2015 and 2014 , the company granted restricted stock units of 488622 , 344500 and 364150 , respectively , that will vest over a three- or four-year period with weighted-average grant-date fair values of $ 88.51 , $ 86.34 and $ 82.13 , respectively . during 2016 and 2015 , 162019 and 85713 shares vested and were released , respectively . as of december 31 , 2016 , 2015 and 2014 , 838327 , 571462 and 344750 units were outstanding , respectively . total compensation expense is being recorded over the service period and was $ 19.1 million , $ 12.5 million and $ 5.8 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively . in conjunction with a 2015 acquisition , ansys issued 68451 shares of replacement restricted stock with a weighted-average grant-date fair value of $ 90.48 . of the $ 6.2 million grant-date fair value , $ 3.5 million , related to partially vested awards , was recorded as non-cash purchase price consideration . the remaining fair value will be recognized as stock compensation expense through the conclusion of the service period . during the years ended december 31 , 2016 and 2015 , the company recorded $ 1.2 million and $ 0.6 million , respectively , of stock compensation expense related to these awards . in conjunction with a 2011 acquisition , the company granted performance-based restricted stock awards . vesting was determined based on the achievements of certain revenue and operating income targets of the entity post-acquisition . total compensation expense associated with the awards recorded for the year ended december 31 , 2014 was $ 4.7 million . the company has granted deferred stock awards to non-affiliate independent directors , which are rights to receive shares of common stock upon termination of service as a director . in 2015 and prior , the deferred stock awards were granted quarterly in arrears and vested immediately upon grant . associated with these awards , the company established a non-qualified 409 ( a ) deferred compensation plan with assets held under a rabbi trust to provide directors an opportunity to diversify their vested awards . during open trading windows and at their elective option , the directors may convert their company shares into a variety of non-company-stock investment options in order to diversify their holdings . as of december 31 , 2016 , 5000 shares have been diversified and 184099 undiversified deferred stock awards have vested with the underlying shares remaining unissued until the service termination of the respective director owners . in may 2016 , the company granted 38400 deferred stock awards which will vest in full on the one-year anniversary of the grant . total compensation expense associated with the awards recorded for the years ended december 31 , 2016 , 2015 and 2014 was $ 1.9 million , $ 4.0 million and $ 3.5 million , respectively. .
| string | null | volatility_change = 16 - 14
percent_change = volatility_change / 14
answer = percent_change * 100 |
what was the average return on invested capital from 2002 to 2006? | 12.0200004578 | CodeFinQA | notes to five year summary ( a ) includes the effects of items not considered in the assessment of the operating performance of our business segments ( see the section , 201cresults of operations 2013 unallocated corporate ( expense ) income , net 201d in management 2019s discussion and analysis of financial condition and results of operations ( md&a ) ) which , on a combined basis , increased earnings from continuing operations before income taxes by $ 214 million , $ 139 million after tax ( $ 0.31 per share ) . also includes a reduction in income tax expense of $ 62 million ( $ 0.14 per share ) resulting from a tax benefit related to claims we filed for additional extraterritorial income exclusion ( eti ) tax benefits . these items increased earnings by $ 201 million after tax ( $ 0.45 per share ) . ( b ) includes the effects of items not considered in the assessment of the operating performance of our business segments ( see the section , 201cresults of operations 2013 unallocated corporate ( expense ) income , net 201d in md&a ) which , on a combined basis , increased earnings from continuing operations before income taxes by $ 173 million , $ 113 million after tax ( $ 0.25 per share ) . ( c ) includes the effects of items not considered in the assessment of the operating performance of our business segments ( see the section , 201cresults of operations 2013 unallocated corporate ( expense ) income , net 201d in md&a ) which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 215 million , $ 154 million after tax ( $ 0.34 per share ) . also includes a reduction in income tax expense resulting from the closure of an internal revenue service examination of $ 144 million ( $ 0.32 per share ) . these items reduced earnings by $ 10 million after tax ( $ 0.02 per share ) . ( d ) includes the effects of items not considered in the assessment of the operating performance of our business segments which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 153 million , $ 102 million after tax ( $ 0.22 per share ) . ( e ) includes the effects of items not considered in the assessment of the operating performance of our business segments which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 1112 million , $ 632 million after tax ( $ 1.40 per share ) . ( f ) we define return on invested capital ( roic ) as net earnings plus after-tax interest expense divided by average invested capital ( stockholders 2019 equity plus debt ) , after adjusting stockholders 2019 equity by adding back adjustments related to postretirement benefit plans . we believe that reporting roic provides investors with greater visibility into how effectively we use the capital invested in our operations . we use roic to evaluate multi-year investment decisions and as a long-term performance measure , and also use it as a factor in evaluating management performance under certain of our incentive compensation plans . roic is not a measure of financial performance under gaap , and may not be defined and calculated by other companies in the same manner . roic should not be considered in isolation or as an alternative to net earnings as an indicator of performance . we calculate roic as follows : ( in millions ) 2006 2005 2004 2003 2002 .
| <i>(In millions)</i> | 2006 | 2005 | 2004 | 2003 | 2002 |
| :--- | :--- | :--- | :--- | :--- | :--- |
| Net earnings | $2,529 | $1,825 | $1,266 | $1,053 | $500 |
| Interest expense (multiplied by 65%)<sup>1</sup> | 235 | 241 | 276 | 317 | 378 |
| Return | $2,764 | $2,066 | $1,542 | $1,370 | $878 |
| Average debt<sup>2, 5</sup> | $4,727 | $5,077 | $5,932 | $6,612 | $7,491 |
| Average equity<sup>3, 5</sup> | 7,686 | 7,590 | 7,015 | 6,170 | 6,853 |
| Average benefit plan adjustments<sup>3, 4,5</sup> | 2,006 | 1,545 | 1,296 | 1,504 | 341 |
| Average invested capital | $14,419 | $14,212 | $14,243 | $14,286 | $14,685 |
| Return on invested capital | 19.2% | 14.5% | 10.8% | 9.6% | 6.0% |
1 represents after-tax interest expense utilizing the federal statutory rate of 35% ( 35 % ) . 2 debt consists of long-term debt , including current maturities , and short-term borrowings ( if any ) . 3 equity includes non-cash adjustments , primarily for the additional minimum pension liability in all years and the adoption of fas 158 in 2006 . 4 average benefit plan adjustments reflect the cumulative value of entries identified in our statement of stockholders equity under the captions 201cadjustment for adoption of fas 158 201d and 201cminimum pension liability . 201d the annual benefit plan adjustments to equity were : 2006 = ( $ 1883 ) million ; 2005 = ( $ 105 ) million ; 2004 = ( $ 285 ) million ; 2003 = $ 331 million ; and 2002 = ( $ 1537 ) million . as these entries are recorded in the fourth quarter , the value added back to our average equity in a given year is the cumulative impact of all prior year entries plus 20% ( 20 % ) of the current year entry value . 5 yearly averages are calculated using balances at the start of the year and at the end of each quarter. .
| string | null | table_row = [19.2, 14.5, 10.8, 9.6, 6.0] # row labeled return on invested capital
a = sum(table_row)/len(table_row) |
for metokote , what percentage of purchase price was hard assets? | 24 | 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 | hard_assets = 73
total_assets = 306
percent_hard_assets = hard_assets / total_assets
answer = percent_hard_assets * 100 |
what was the allowance for borrowed funds used during construction as a percentage of allowance for other funds used during construction during 2014? | 66.6999969482 | CodeFinQA | the company recognizes accrued interest and penalties related to tax positions as a component of income tax expense and accounts for sales tax collected from customers and remitted to taxing authorities on a net basis . allowance for funds used during construction afudc is a non-cash credit to income with a corresponding charge to utility plant that represents the cost of borrowed funds or a return on equity funds devoted to plant under construction . the regulated utility subsidiaries record afudc to the extent permitted by the pucs . the portion of afudc attributable to borrowed funds is shown as a reduction of interest , net in the accompanying consolidated statements of operations . any portion of afudc attributable to equity funds would be included in other income ( expenses ) in the accompanying consolidated statements of operations . afudc is summarized in the following table for the years ended december 31: .
| | 2015 | 2014 | 2013 |
| :--- | :--- | :--- | :--- |
| Allowance for other funds used during construction | $13 | $9 | $13 |
| Allowance for borrowed funds used during construction | 8 | 6 | 6 |
environmental costs the company 2019s water and wastewater operations are subject to u.s . federal , state , local and foreign requirements relating to environmental protection , and as such , the company periodically becomes subject to environmental claims in the normal course of business . environmental expenditures that relate to current operations or provide a future benefit are expensed or capitalized as appropriate . remediation costs that relate to an existing condition caused by past operations are accrued , on an undiscounted basis , when it is probable that these costs will be incurred and can be reasonably estimated . remediation costs accrued amounted to $ 1 and $ 2 as of december 31 , 2015 and 2014 , respectively . the accrual relates entirely to a conservation agreement entered into by a subsidiary of the company with the national oceanic and atmospheric administration ( 201cnoaa 201d ) requiring the company to , among other provisions , implement certain measures to protect the steelhead trout and its habitat in the carmel river watershed in the state of california . the company has agreed to pay $ 1 annually from 2010 to 2016 . the company 2019s inception-to-date costs related to the noaa agreement were recorded in regulatory assets in the accompanying consolidated balance sheets as of december 31 , 2015 and 2014 and are expected to be fully recovered from customers in future rates . derivative financial instruments the company uses derivative financial instruments for purposes of hedging exposures to fluctuations in interest rates . these derivative contracts are entered into for periods consistent with the related underlying exposures and do not constitute positions independent of those exposures . the company does not enter into derivative contracts for speculative purposes and does not use leveraged instruments . all derivatives are recognized on the balance sheet at fair value . on the date the derivative contract is entered into , the company may designate the derivative as a hedge of the fair value of a recognized asset or liability ( fair-value hedge ) or a hedge of a forecasted transaction or of the variability of cash flows to be received or paid related to a recognized asset or liability ( cash-flow hedge ) . changes in the fair value of a fair-value hedge , along with the gain or loss on the underlying hedged item , are recorded in current-period earnings . the effective portion of gains and losses on cash-flow hedges are recorded in other comprehensive income , until earnings are affected by the variability of cash flows . any ineffective portion of designated hedges is recognized in current-period earnings . cash flows from derivative contracts are included in net cash provided by operating activities in the accompanying consolidated statements of cash flows. .
| string | null | borrowed_2014 = 6
other_2014 = 9
percent_borrowed = borrowed_2014 / other_2014
answer = percent_borrowed * 100 |
what is the working capital of metropolitan? | 95 | CodeFinQA | humana inc . notes to consolidated financial statements 2014 ( continued ) not be estimated based on observable market prices , and as such , unobservable inputs were used . for auction rate securities , valuation methodologies include consideration of the quality of the sector and issuer , underlying collateral , underlying final maturity dates , and liquidity . recently issued accounting pronouncements there are no recently issued accounting standards that apply to us or that will have a material impact on our results of operations , financial condition , or cash flows . 3 . acquisitions on december 21 , 2012 , we acquired metropolitan health networks , inc. , or metropolitan , a medical services organization , or mso , that coordinates medical care for medicare advantage beneficiaries and medicaid recipients , primarily in florida . we paid $ 11.25 per share in cash to acquire all of the outstanding shares of metropolitan and repaid all outstanding debt of metropolitan for a transaction value of $ 851 million , plus transaction expenses . the preliminary fair values of metropolitan 2019s assets acquired and liabilities assumed at the date of the acquisition are summarized as follows : metropolitan ( in millions ) .
| | Metropolitan (in millions) |
| :--- | :--- |
| Cash and cash equivalents | $49 |
| Receivables, net | 28 |
| Other current assets | 40 |
| Property and equipment | 22 |
| Goodwill | 569 |
| Other intangible assets | 263 |
| Other long-term assets | 1 |
| Total assets acquired | 972 |
| Current liabilities | (22) |
| Other long-term liabilities | (99) |
| Total liabilities assumed | (121) |
| Net assets acquired | $851 |
the goodwill was assigned to the health and well-being services segment and is not deductible for tax purposes . the other intangible assets , which primarily consist of customer contracts and trade names , have a weighted average useful life of 8.4 years . on october 29 , 2012 , we acquired a noncontrolling equity interest in mcci holdings , llc , or mcci , a privately held mso headquartered in miami , florida that coordinates medical care for medicare advantage and medicaid beneficiaries primarily in florida and texas . the metropolitan and mcci transactions are expected to provide us with components of a successful integrated care delivery model that has demonstrated scalability to new markets . a substantial portion of the revenues for both metropolitan and mcci are derived from services provided to humana medicare advantage members under capitation contracts with our health plans . in addition , metropolitan and mcci provide services to medicare advantage and medicaid members under capitation contracts with third party health plans . under these capitation agreements with humana and third party health plans , metropolitan and mcci assume financial risk associated with these medicare advantage and medicaid members. .
| string | null | working_capital = 49 + 28 + 40 - 22
answer = working_capital |
for december 31 , 2009 , what was the total value of segregated collateral for the benefit of brokerage customers in millions? | 34.2000007629 | CodeFinQA | notes to consolidated financial statements jpmorgan chase & co./2009 annual report 236 the following table presents the u.s . and non-u.s . components of income before income tax expense/ ( benefit ) and extraordinary gain for the years ended december 31 , 2009 , 2008 and 2007 . year ended december 31 , ( in millions ) 2009 2008 2007 .
| Year ended December 31, (in millions) | 2009 | 2008 | 2007 |
| :--- | :--- | :--- | :--- |
| U.S. | $6,263 | $(2,094) | $13,720 |
| Non-U.S.<sup>(a)</sup> | 9,804 | 4,867 | 9,085 |
| Income before income taxexpense/(benefit) andextraordinary gain | $16,067 | $2,773 | $22,805 |
non-u.s. ( a ) 9804 4867 9085 income before income tax expense/ ( benefit ) and extraordinary gain $ 16067 $ 2773 $ 22805 ( a ) for purposes of this table , non-u.s . income is defined as income generated from operations located outside the u.s . note 28 2013 restrictions on cash and inter- company funds transfers the business of jpmorgan chase bank , national association ( 201cjpmorgan chase bank , n.a . 201d ) is subject to examination and regulation by the office of the comptroller of the currency ( 201cocc 201d ) . the bank is a member of the u.s . federal reserve sys- tem , and its deposits are insured by the fdic . the board of governors of the federal reserve system ( the 201cfed- eral reserve 201d ) requires depository institutions to maintain cash reserves with a federal reserve bank . the average amount of reserve balances deposited by the firm 2019s bank subsidiaries with various federal reserve banks was approximately $ 821 million and $ 1.6 billion in 2009 and 2008 , respectively . restrictions imposed by u.s . federal law prohibit jpmorgan chase and certain of its affiliates from borrowing from banking subsidiar- ies unless the loans are secured in specified amounts . such secured loans to the firm or to other affiliates are generally limited to 10% ( 10 % ) of the banking subsidiary 2019s total capital , as determined by the risk- based capital guidelines ; the aggregate amount of all such loans is limited to 20% ( 20 % ) of the banking subsidiary 2019s total capital . the principal sources of jpmorgan chase 2019s income ( on a parent company 2013only basis ) are dividends and interest from jpmorgan chase bank , n.a. , and the other banking and nonbanking subsidi- aries of jpmorgan chase . in addition to dividend restrictions set forth in statutes and regulations , the federal reserve , the occ and the fdic have authority under the financial institutions supervisory act to prohibit or to limit the payment of dividends by the banking organizations they supervise , including jpmorgan chase and its subsidiaries that are banks or bank holding companies , if , in the banking regulator 2019s opinion , payment of a dividend would consti- tute an unsafe or unsound practice in light of the financial condi- tion of the banking organization . at january 1 , 2010 and 2009 , jpmorgan chase 2019s banking subsidi- aries could pay , in the aggregate , $ 3.6 billion and $ 17.0 billion , respectively , in dividends to their respective bank holding compa- nies without the prior approval of their relevant banking regulators . the capacity to pay dividends in 2010 will be supplemented by the banking subsidiaries 2019 earnings during the year . in compliance with rules and regulations established by u.s . and non-u.s . regulators , as of december 31 , 2009 and 2008 , cash in the amount of $ 24.0 billion and $ 34.8 billion , respectively , and securities with a fair value of $ 10.2 billion and $ 23.4 billion , re- spectively , were segregated in special bank accounts for the benefit of securities and futures brokerage customers . note 29 2013 capital the federal reserve establishes capital requirements , including well-capitalized standards for the consolidated financial holding company . the occ establishes similar capital requirements and standards for the firm 2019s national banks , including jpmorgan chase bank , n.a. , and chase bank usa , n.a . there are two categories of risk-based capital : tier 1 capital and tier 2 capital . tier 1 capital includes common stockholders 2019 equity , qualifying preferred stock and minority interest less goodwill and other adjustments . tier 2 capital consists of preferred stock not qualifying as tier 1 , subordinated long-term debt and other instru- ments qualifying as tier 2 , and the aggregate allowance for credit losses up to a certain percentage of risk-weighted assets . total regulatory capital is subject to deductions for investments in certain subsidiaries . under the risk-based capital guidelines of the federal reserve , jpmorgan chase is required to maintain minimum ratios of tier 1 and total ( tier 1 plus tier 2 ) capital to risk-weighted assets , as well as minimum leverage ratios ( which are defined as tier 1 capital to average adjusted on 2013balance sheet assets ) . failure to meet these minimum requirements could cause the federal reserve to take action . banking subsidiaries also are subject to these capital requirements by their respective primary regulators . as of december 31 , 2009 and 2008 , jpmorgan chase and all of its banking sub- sidiaries were well-capitalized and met all capital requirements to which each was subject. .
| string | null | segregated_collateral = 24.0 + 10.2
answer = segregated_collateral |
what was the average operating profit from 2005 to 2007 | 1250.5999755859 | CodeFinQA | air mobility sales declined by $ 535 million primarily due to c-130j deliveries ( 12 in 2006 compared to 15 in 2005 ) and lower volume on the c-5 program . combat aircraft sales increased by $ 292 million mainly due to higher f-35 and f-22 volume , partially offset by reduced volume on f-16 programs . other aeronautics programs sales increased by $ 83 million primarily due to higher volume in sustainment services activities . operating profit for the segment increased 21% ( 21 % ) in 2007 compared to 2006 . operating profit increases in combat aircraft more than offset decreases in other aeronautics programs and air mobility . combat aircraft operating profit increased $ 326 million mainly due to improved performance on f-22 and f-16 programs . air mobility and other aeronautics programs declined $ 77 million due to lower operating profit in support and sustainment activities . operating profit for the segment increased 20% ( 20 % ) in 2006 compared to 2005 . operating profit increased in both combat aircraft and air mobility . combat aircraft increased $ 114 million , mainly due to higher volume on the f-35 and f-22 programs , and improved performance on f-16 programs . the improvement for the year was also attributable in part to the fact that in 2005 , operating profit included a reduction in earnings on the f-35 program . air mobility operating profit increased $ 84 million , mainly due to improved performance on c-130j sustainment activities in 2006 . backlog decreased in 2007 as compared to 2006 primarily as a result of sales volume on the f-35 program . this decrease was offset partially by increased orders on the f-22 and c-130j programs . electronic systems electronic systems 2019 operating results included the following : ( in millions ) 2007 2006 2005 .
| <i>(In millions)</i> | <i>2007</i> | <i>2006</i> | <i>2005</i> |
| :--- | :--- | :--- | :--- |
| Net sales | $11,143 | $10,519 | $9,811 |
| Operating profit | 1,410 | 1,264 | 1,078 |
| Backlog at year-end | 21,200 | 19,700 | 18,600 |
net sales for electronic systems increased by 6% ( 6 % ) in 2007 compared to 2006 . sales increased in missiles & fire control ( m&fc ) , maritime systems & sensors ( ms2 ) , and platform , training & energy ( pt&e ) . m&fc sales increased $ 258 million mainly due to higher volume in fire control systems and air defense programs , which more than offset declines in tactical missile programs . ms2 sales grew $ 254 million due to volume increases in undersea and radar systems activities that were offset partially by decreases in surface systems activities . pt&e sales increased $ 113 million , primarily due to higher volume in platform integration activities , which more than offset declines in distribution technology activities . net sales for electronic systems increased by 7% ( 7 % ) in 2006 compared to 2005 . higher volume in platform integration activities led to increased sales of $ 329 million at pt&e . ms2 sales increased $ 267 million primarily due to surface systems activities . air defense programs contributed to increased sales of $ 118 million at m&fc . operating profit for the segment increased by 12% ( 12 % ) in 2007 compared to 2006 , representing an increase in all three lines of business during the year . operating profit increased $ 70 million at pt&e primarily due to higher volume and improved performance on platform integration activities . ms2 operating profit increased $ 32 million due to higher volume on undersea and tactical systems activities that more than offset lower volume on surface systems activities . at m&fc , operating profit increased $ 32 million due to higher volume in fire control systems and improved performance in tactical missile programs , which partially were offset by performance on certain international air defense programs in 2006 . operating profit for the segment increased by 17% ( 17 % ) in 2006 compared to 2005 . operating profit increased by $ 74 million at ms2 mainly due to higher volume on surface systems and undersea programs . pt&e operating profit increased $ 61 million mainly due to improved performance on distribution technology activities . higher volume on air defense programs contributed to a $ 52 million increase in operating profit at m&fc . the increase in backlog during 2007 over 2006 resulted primarily from increased orders for certain tactical missile programs and fire control systems at m&fc and platform integration programs at pt&e. .
| string | null | net_profit_2007 = 1410
net_profit_2006 = 1264
net_profit_2005 = 1078
average_operating_profit = (net_profit_2007 + net_profit_2006 + net_profit_2005) / 3
answer = average_operating_profit |
what percent did the company's goodwill balance increase between the between the beginning of 2016 and the end of 2017? | 808.5 | CodeFinQA | note 4 - goodwill and other intangible assets : goodwill the company had approximately $ 93.2 million and $ 94.4 million of goodwill at december 30 , 2017 and december 31 , 2016 , respectively . the changes in the carrying amount of goodwill for the years ended december 30 , 2017 and december 31 , 2016 are as follows ( in thousands ) : .
| | 2017 | 2016 |
| :--- | :--- | :--- |
| Balance, beginning of year | $94,417 | $10,258 |
| Goodwill acquired as part of acquisition | — | 84,159 |
| Working capital settlement | (1,225) | — |
| Impairment loss | — | — |
| Balance, end of year | $93,192 | $94,417 |
goodwill is allocated to each identified reporting unit , which is defined as an operating segment or one level below the operating segment . goodwill is not amortized , but is evaluated for impairment annually and whenever events or changes in circumstances indicate the carrying value of goodwill may not be recoverable . the company completes its impairment evaluation by performing valuation analyses and considering other publicly available market information , as appropriate . the test used to identify the potential for goodwill impairment compares the fair value of a reporting unit with its carrying value . an impairment charge would be recorded to the company 2019s operations for the amount , if any , in which the carrying value exceeds the fair value . in the fourth quarter of fiscal 2017 , the company completed its annual impairment testing of goodwill and no impairment was identified . the company determined that the fair value of each reporting unit ( including goodwill ) was in excess of the carrying value of the respective reporting unit . in reaching this conclusion , the fair value of each reporting unit was determined based on either a market or an income approach . under the market approach , the fair value is based on observed market data . other intangible assets the company had approximately $ 31.3 million of intangible assets other than goodwill at december 30 , 2017 and december 31 , 2016 . the intangible asset balance represents the estimated fair value of the petsense tradename , which is not subject to amortization as it has an indefinite useful life on the basis that it is expected to contribute cash flows beyond the foreseeable horizon . with respect to intangible assets , we evaluate for impairment annually and whenever events or changes in circumstances indicate that the carrying value may not be recoverable . we recognize an impairment loss only if the carrying amount is not recoverable through its discounted cash flows and measure the impairment loss based on the difference between the carrying value and fair value . in the fourth quarter of fiscal 2017 , the company completed its annual impairment testing of intangible assets and no impairment was identified. .
| string | null | goodwill_2017 = 93192
goodwill_2016 = 10258
increase = goodwill_2017 - goodwill_2016
percent_increase = increase / goodwill_2016
answer = percent_increase * 100 |
what were total generated aggregate proceeds to the company prior to deducting underwriting discounts , expenses and transaction costs , in millions? | 454.5 | CodeFinQA | .
| | June 27, 2013 | December 31, 2013 |
| :--- | :--- | :--- |
| CDW Corp | $100 | $138 |
| S&P MidCap 400 index | 100 | 118 |
| CDW Peers | 100 | 113 |
use of proceeds from registered securities on july 2 , 2013 , the company completed an ipo of its common stock in which it issued and sold 23250000 shares of common stock . on july 31 , 2013 , the company completed the sale of an additional 3487500 shares of common stock to the underwriters of the ipo pursuant to the underwriters 2019 july 26 , 2013 exercise in full of the overallotment option granted to them in connection with the ipo . such shares were registered under the securities act of 1933 , as amended , pursuant to the company 2019s registration statement on form s-1 ( file 333-187472 ) , which was declared effective by the sec on june 26 , 2013 . the shares of common stock are listed on the nasdaq global select market under the symbol 201ccdw . 201d the company 2019s shares of common stock were sold to the underwriters at a price of $ 17.00 per share in the ipo and upon the exercise of the overallotment option , which together , generated aggregate net proceeds of $ 424.7 million to the company after deducting $ 29.8 million in underwriting discounts , expenses and transaction costs . using a portion of the net proceeds from the ipo ( exclusive of proceeds from the exercise of the overallotment option ) , the company paid a $ 24.4 million termination fee to affiliates of madison dearborn partners , llc and providence equity partners , l.l.c . in connection with the termination of the management services agreement with such entities that was effective upon completion of the ipo , redeemed $ 175.0 million aggregate principal amount of senior secured notes due 2018 , and redeemed $ 146.0 million aggregate principal amount of senior subordinated notes due 2017 . the redemption price of the senior secured notes due 2018 was 108.0% ( 108.0 % ) of the principal amount redeemed , plus accrued and unpaid interest to the date of redemption . the company used cash on hand to pay such accrued and unpaid interest . the redemption price of the senior subordinated notes due 2017 was 106.268% ( 106.268 % ) of the principal amount redeemed , plus accrued and unpaid interest to the date of redemption . the company used cash on hand to pay such accrued and unpaid interest . on october 18 , 2013 , proceeds from the overallotment option exercise of $ 56.0 million and cash on hand were used to redeem $ 155.0 million aggregate principal amount of senior subordinated notes due 2017 . the redemption price of the senior subordinated notes due 2017 was 104.178% ( 104.178 % ) of the principal amount redeemed , plus accrued and unpaid interest to the date of redemption . the company used cash on hand to pay such redemption premium and accrued and unpaid interest . j.p . morgan securities llc , barclays capital inc . and goldman , sachs & co . acted as joint book-running managers of the ipo and as representatives of the underwriters . deutsche bank securities inc . and morgan stanley & co . llc acted as additional book-running managers in the ipo . robert w . baird & co . incorporated , raymond james & associates , inc. , william blair & company , l.l.c. , needham & company , llc , stifel , nicolaus & company , incorporated , loop capital markets llc and the williams capital group , l.p . acted as managing underwriters in the ipo. .
| string | null | aggregate_proceeds = 424.7 + 29.8
answer = aggregate_proceeds |
how is cash flow of entergy arkansas affected by the change in balance of money pool from 2014 to 2015? | 54960 | CodeFinQA | entergy arkansas , inc . and subsidiaries management 2019s financial discussion and analysis stock restrict the amount of retained earnings available for the payment of cash dividends or other distributions on its common and preferred stock . sources of capital entergy arkansas 2019s sources to meet its capital requirements include : 2022 internally generated funds ; 2022 cash on hand ; 2022 debt or preferred stock issuances ; and 2022 bank financing under new or existing facilities . entergy arkansas may refinance , redeem , or otherwise retire debt and preferred stock prior to maturity , to the extent market conditions and interest and dividend rates are favorable . all debt and common and preferred stock issuances by entergy arkansas require prior regulatory approval . preferred stock and debt issuances are also subject to issuance tests set forth in entergy arkansas 2019s corporate charters , bond indentures , and other agreements . entergy arkansas has sufficient capacity under these tests to meet its foreseeable capital needs . entergy arkansas 2019s receivables from or ( payables to ) the money pool were as follows as of december 31 for each of the following years. .
| 2016 | 2015 | 2014 | 2013 |
| :--- | :--- | :--- | :--- |
| (In Thousands) |
| ($51,232) | ($52,742) | $2,218 | $17,531 |
see note 4 to the financial statements for a description of the money pool . entergy arkansas has a credit facility in the amount of $ 150 million scheduled to expire in august 2021 . entergy arkansas also has a $ 20 million credit facility scheduled to expire in april 2017 . the $ 150 million credit facility allows entergy arkansas to issue letters of credit against 50% ( 50 % ) of the borrowing capacity of the facility . as of december 31 , 2016 , there were no cash borrowings and no letters of credit outstanding under the credit facilities . in addition , entergy arkansas is a party to an uncommitted letter of credit facility as a means to post collateral to support its obligations under miso . as of december 31 , 2016 , a $ 1 million letter of credit was outstanding under entergy arkansas 2019s uncommitted letter of credit facility . see note 4 to the financial statements for additional discussion of the credit facilities . the entergy arkansas nuclear fuel company variable interest entity has a credit facility in the amount of $ 80 million scheduled to expire in may 2019 . as of december 31 , 2016 , no letters of credit were outstanding under the credit facility to support commercial paper issued by the entergy arkansas nuclear fuel company variable interest entity . see note 4 to the financial statements for additional discussion of the nuclear fuel company variable interest entity credit facility . entergy arkansas obtained authorizations from the ferc through october 2017 for short-term borrowings not to exceed an aggregate amount of $ 250 million at any time outstanding and long-term borrowings by its nuclear fuel company variable interest entity . see note 4 to the financial statements for further discussion of entergy arkansas 2019s short-term borrowing limits . the long-term securities issuances of entergy arkansas are limited to amounts authorized by the apsc and the tennessee regulatory authority ; the current authorizations extend through december 2018. .
| string | null | entergy_arkansas_receivables = 52742 + 2218
entergy_arkansas_payables = 0
entergy_arkansas_net_cash_flow = entergy_arkansas_receivables - entergy_arkansas_payables
answer = entergy_arkansas_net_cash_flow |
what percent of total minimum lease payments are due after 5 years? | 85.5999984741 | CodeFinQA | notes to consolidated financial statements of annual compensation was made . for the years ended december 31 , 2009 , 2008 and , 2007 , we made matching contributions of approxi- mately $ 450000 , $ 503000 and $ 457000 , respectively . note 17 / commitments and contingencies we and our operating partnership are not presently involved in any mate- rial litigation nor , to our knowledge , is any material litigation threatened against us or our properties , other than routine litigation arising in the ordinary course of business . management believes the costs , if any , incurred by us and our operating partnership related to this litigation will not materially affect our financial position , operating results or liquidity . we have entered into employment agreements with certain executives , which expire between june 2010 and january 2013 . the minimum cash-based compensation , including base salary and guaran- teed bonus payments , associated with these employment agreements totals approximately $ 7.8 million for 2010 . in march 1998 , we acquired an operating sub-leasehold posi- tion at 420 lexington avenue . the operating sub-leasehold position required annual ground lease payments totaling $ 6.0 million and sub- leasehold position payments totaling $ 1.1 million ( excluding an operating sub-lease position purchased january 1999 ) . in june 2007 , we renewed and extended the maturity date of the ground lease at 420 lexington avenue through december 31 , 2029 , with an option for further exten- sion through 2080 . ground lease rent payments through 2029 will total approximately $ 10.9 million per year . thereafter , the ground lease will be subject to a revaluation by the parties thereto . in june 2009 , we acquired an operating sub-leasehold posi- tion at 420 lexington avenue for approximately $ 7.7 million . these sub-leasehold positions were scheduled to mature in december 2029 . in october 2009 , we acquired the remaining sub-leasehold position for $ 7.6 million . the property located at 711 third avenue operates under an operating sub-lease , which expires in 2083 . under the sub-lease , we are responsible for ground rent payments of $ 1.55 million annually through july 2011 on the 50% ( 50 % ) portion of the fee we do not own . the ground rent is reset after july 2011 based on the estimated fair market value of the property . we have an option to buy out the sub-lease at a fixed future date . the property located at 461 fifth avenue operates under a ground lease ( approximately $ 2.1 million annually ) with a term expiration date of 2027 and with two options to renew for an additional 21 years each , followed by a third option for 15 years . we also have an option to purchase the ground lease for a fixed price on a specific date . the property located at 625 madison avenue operates under a ground lease ( approximately $ 4.6 million annually ) with a term expiration date of 2022 and with two options to renew for an additional 23 years . the property located at 1185 avenue of the americas oper- ates under a ground lease ( approximately $ 8.5 million in 2010 and $ 6.9 million annually thereafter ) with a term expiration of 2020 and with an option to renew for an additional 23 years . in april 1988 , the sl green predecessor entered into a lease agreement for the property at 673 first avenue , which has been capitalized for financial statement purposes . land was estimated to be approximately 70% ( 70 % ) of the fair market value of the property . the portion of the lease attributed to land is classified as an operating lease and the remainder as a capital lease . the initial lease term is 49 years with an option for an additional 26 years . beginning in lease years 11 and 25 , the lessor is entitled to additional rent as defined by the lease agreement . we continue to lease the 673 first avenue property , which has been classified as a capital lease with a cost basis of $ 12.2 million and cumulative amortization of $ 5.5 million and $ 5.2 million at december 31 , 2009 and 2008 , respectively . the following is a schedule of future minimum lease payments under capital leases and noncancellable operating leases with initial terms in excess of one year as of december 31 , 2009 ( in thousands ) : non-cancellable december 31 , capital lease operating leases .
| December 31, | Capital lease | Non-cancellable operating leases |
| :--- | :--- | :--- |
| 2010 | $1,451 | $31,347 |
| 2011 | 1,555 | 28,929 |
| 2012 | 1,555 | 28,179 |
| 2013 | 1,555 | 28,179 |
| 2014 | 1,555 | 28,179 |
| Thereafter | 45,649 | 580,600 |
| Total minimum lease payments | 53,320 | $725,413 |
| Less amount representing interest | (36,437) | |
| Present value of net minimum lease payments | $16,883 | |
note 18 / financial instruments : derivatives and hedging we recognize all derivatives on the balance sheet at fair value . derivatives that are not hedges must be adjusted to fair value through income . if a derivative is a hedge , depending on the nature of the hedge , changes in the fair value of the derivative will either be offset against the change in fair value of the hedged asset , liability , or firm commitment through earn- ings , or recognized in other comprehensive income until the hedged item is recognized in earnings . the ineffective portion of a derivative 2019s change in fair value will be immediately recognized in earnings . reported net income and stockholders 2019 equity may increase or decrease prospectively , depending on future levels of interest rates and other variables affecting the fair values of derivative instruments and hedged items , but will have no effect on cash flows. .
| string | null | future_minimum_lease_payments = 45649
total_future_minimum_lease_payments = 53320
percent_future_minimum_lease_payments = future_minimum_lease_payments / total_future_minimum_lease_payments
answer = percent_future_minimum_lease_payments * 100 |
what was total amounts written off for the three years? | 93 | CodeFinQA | note 6 : allowance for uncollectible accounts the following table provides the changes in the allowances for uncollectible accounts for the years ended december 31: .
| | 2018 | 2017 | 2016 |
| :--- | :--- | :--- | :--- |
| Balance as of January 1 | $(42) | $(40) | $(39) |
| Amounts charged to expense | (33) | (29) | (27) |
| Amounts written off | 34 | 30 | 29 |
| Recoveries of amounts written off | (4) | (3) | (3) |
| Balance as of December 31 | $(45) | $(42) | $(40) |
note 7 : regulatory assets and liabilities regulatory assets regulatory assets represent costs that are probable of recovery from customers in future rates . the majority of the regulatory assets earn a return . the following table provides the composition of regulatory assets as of december 31 : 2018 2017 deferred pension expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 362 $ 285 removal costs recoverable through rates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 292 269 regulatory balancing accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 110 113 san clemente dam project costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 85 89 debt expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70 67 purchase premium recoverable through rates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56 57 deferred tank painting costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42 42 make-whole premium on early extinguishment of debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 27 other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 106 112 total regulatory assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1156 $ 1061 the company 2019s deferred pension expense includes a portion of the underfunded status that is probable of recovery through rates in future periods of $ 352 million and $ 270 million as of december 31 , 2018 and 2017 , respectively . the remaining portion is the pension expense in excess of the amount contributed to the pension plans which is deferred by certain subsidiaries and will be recovered in future service rates as contributions are made to the pension plan . removal costs recoverable through rates represent costs incurred for removal of property , plant and equipment or other retirement costs . regulatory balancing accounts accumulate differences between revenues recognized and authorized revenue requirements until they are collected from customers or are refunded . regulatory balancing accounts include low income programs and purchased power and water accounts . san clemente dam project costs represent costs incurred and deferred by the company 2019s utility subsidiary in california pursuant to its efforts to investigate alternatives and remove the dam due to potential earthquake and flood safety concerns . in june 2012 , the california public utilities commission ( 201ccpuc 201d ) issued a decision authorizing implementation of a project to reroute the carmel river and remove the san clemente dam . the project includes the company 2019s utility subsidiary in california , the california state conservancy and the national marine fisheries services . under the order 2019s terms , the cpuc has authorized recovery for .
| string | null | table_row = [34, 30, 29] # row labeled amounts written off
a = sum(table_row)
answer = a |
in 2009 what was the percent of the total second generation capital expenditures associated with leasing costs | 51.0999984741 | CodeFinQA | 34| | duke realty corporation annual report 2010 value of $ 173.9 million for which our 80% ( 80 % ) share of net proceeds totaled $ 138.3 million . we expect , and are under contract , to sell additional buildings to duke/ princeton , llc by the end of the second quarter 2011 , subject to financing and other customary closing conditions . the total 2011 sale is expected to consist of 13 office buildings , totaling over 2.0 million square feet , with an agreed upon value of $ 342.8 million , and is expected to generate proceeds of $ 274.2 million for the 80% ( 80 % ) portion that we sell . uses of liquidity our principal uses of liquidity include the following : 2022 accretive property investment ; 2022 leasing/capital costs ; 2022 dividends and distributions to shareholders and unitholders ; 2022 long-term debt maturities ; 2022 repurchases of outstanding debt and preferred stock ; and 2022 other contractual obligations . property investment we evaluate development and acquisition opportunities based upon market outlook , supply and long-term growth potential . our ability to make future property investments is dependent upon our continued access to our longer-term sources of liquidity including the issuances of debt or equity securities as well as generating cash flow by disposing of selected properties . in light of current economic conditions , management continues to evaluate our investment priorities and is focused on accretive growth . we have continued to operate at a substantially reduced level of new development activity , as compared to recent years , and are focused on the core operations of our existing base of properties . leasing/capital costs tenant improvements and leasing costs to re-let rental space that had been previously under lease to tenants are referred to as second generation expenditures . building improvements that are not specific to any tenant but serve to improve integral components of our real estate properties are also second generation expenditures . one of our principal uses of our liquidity is to fund the second generation leasing/capital expenditures of our real estate investments . the following is a summary of our second generation capital expenditures for the years ended december 31 , 2010 , 2009 and 2008 , respectively ( in thousands ) : .
| | 2010 | 2009 | 2008 |
| :--- | :--- | :--- | :--- |
| Second generation tenant improvements | $36,676 | $29,321 | $36,885 |
| Second generation leasing costs | 39,090 | 40,412 | 28,205 |
| Building improvements | 12,957 | 9,321 | 9,724 |
| Totals | $88,723 | $79,054 | $74,814 |
.
| string | null | second_gen_leasing_costs_2009 = 40412
second_gen_total_expenditures = 79054
percent_second_gen_leasing_costs = second_gen_leasing_costs_2009 / second_gen_total_expenditures
answer = percent_second_gen_leasing_costs * 100 |
included in the derivative loss for 2004 noted in the above table for the 2018 2018protect crack spread values 2019 2019 strategy was a gain due to changes in the fair value of crack-spread derivatives that will expire throughout 2005 . what was the loss without benefit of this gain? | 68 | CodeFinQA | rm&t segment we do not attempt to qualify commodity derivative instruments used in our rm&t operations for hedge accounting . as a result , we recognize all changes in the fair value of derivatives used in our rm&t operations in income , although most of these derivatives have an underlying physical commodity transaction . generally , derivative losses occur when market prices increase , which are offset by gains on the underlying physical commodity transactions . conversely , derivative gains occur when market prices decrease , which are offset by losses on the underlying physical commodity transactions . derivative gains or losses included in rm&t segment income for each of the last three years are summarized in the following table : strategy ( in millions ) 2004 2003 2002 .
| <i>Strategy (In Millions)</i> | 2004 | 2003 | 2002 |
| :--- | :--- | :--- | :--- |
| Mitigate price risk | $(106) | $(112) | $(95) |
| Protect carrying values of excess inventories | (98) | (57) | (41) |
| Protect margin on fixed price sales | 8 | 5 | 11 |
| Protect crack spread values | (76) | 6 | 1 |
| Trading activities | 8 | (4) | – |
| Total net derivative losses | $(264) | $(162) | $(124) |
during 2004 , using derivative instruments map sold crack spreads forward through the fourth quarter 2005 at values higher than the company thought sustainable in the actual months these contracts expire . included in the $ 76 million derivative loss for 2004 noted in the above table for the 2018 2018protect crack spread values 2019 2019 strategy was approximately an $ 8 million gain due to changes in the fair value of crack-spread derivatives that will expire throughout 2005 . in addition , natural gas options are in place to manage the price risk associated with approximately 41 percent of the first quarter 2005 anticipated natural gas purchases for refinery use . ig segment we have used derivative instruments to convert the fixed price of a long-term gas sales contract to market prices . the underlying physical contract is for a specified annual quantity of gas and matures in 2008 . similarly , we will use derivative instruments to convert shorter term ( typically less than a year ) fixed price contracts to market prices in our ongoing purchase for resale activity ; and to hedge purchased gas injected into storage for subsequent resale . derivative gains included in ig segment income were $ 17 million in 2004 , compared to gains of $ 19 million in 2003 and losses of $ 8 million in 2002 . trading activity in the ig segment resulted in losses of $ 2 million in 2004 , compared to losses of $ 7 million in 2003 and gains of $ 4 million in 2002 and have been included in the aforementioned amounts . other commodity risk we are impacted by basis risk , caused by factors that affect the relationship between commodity futures prices reflected in derivative commodity instruments and the cash market price of the underlying commodity . natural gas transaction prices are frequently based on industry reference prices that may vary from prices experienced in local markets . for example , new york mercantile exchange ( 2018 2018nymex 2019 2019 ) contracts for natural gas are priced at louisiana 2019s henry hub , while the underlying quantities of natural gas may be produced and sold in the western united states at prices that do not move in strict correlation with nymex prices . if commodity price changes in one region are not reflected in other regions , derivative commodity instruments may no longer provide the expected hedge , resulting in increased exposure to basis risk . these regional price differences could yield favorable or unfavorable results . otc transactions are being used to manage exposure to a portion of basis risk . we are impacted by liquidity risk , caused by timing delays in liquidating contract positions due to a potential inability to identify a counterparty willing to accept an offsetting position . due to the large number of active participants , liquidity risk exposure is relatively low for exchange-traded transactions. .
| string | null | derivative_loss = 76
gain_due_to_fair_value_changes = 8
loss_without_benefit_of_gain = derivative_loss - gain_due_to_fair_value_changes
answer = loss_without_benefit_of_gain |
what is the percentage change in the balance of allowance for doubtful accounts from 2016 to 2017? | 5.8000001907 | CodeFinQA | cash and cash equivalents cash equivalents include highly-liquid investments with a maturity of three months or less when purchased . accounts receivable and allowance for doubtful accounts accounts receivable are carried at the invoiced amounts , less an allowance for doubtful accounts , and generally do not bear interest . the company estimates the balance of allowance for doubtful accounts by analyzing accounts receivable balances by age and applying historical write-off and collection trend rates . the company 2019s estimates include separately providing for customer receivables based on specific circumstances and credit conditions , and when it is deemed probable that the balance is uncollectible . account balances are written off against the allowance when it is determined the receivable will not be recovered . the company 2019s allowance for doubtful accounts balance also includes an allowance for the expected return of products shipped and credits related to pricing or quantities shipped of $ 15 million , $ 14 million and $ 15 million as of december 31 , 2017 , 2016 , and 2015 , respectively . returns and credit activity is recorded directly to sales as a reduction . the following table summarizes the activity in the allowance for doubtful accounts: .
| (millions) | 2017 | 2016 | 2015 |
| :--- | :--- | :--- | :--- |
| Beginning balance | $67.6 | $75.3 | $77.5 |
| Bad debt expense | 17.1 | 20.1 | 25.8 |
| Write-offs | (15.7) | (24.6) | (21.9) |
| Other (a) | 2.5 | (3.2) | (6.1) |
| Ending balance | $71.5 | $67.6 | $75.3 |
( a ) other amounts are primarily the effects of changes in currency translations and the impact of allowance for returns and credits . inventory valuations inventories are valued at the lower of cost or net realizable value . certain u.s . inventory costs are determined on a last-in , first-out ( 201clifo 201d ) basis . lifo inventories represented 39% ( 39 % ) and 40% ( 40 % ) of consolidated inventories as of december 31 , 2017 and 2016 , respectively . all other inventory costs are determined using either the average cost or first-in , first-out ( 201cfifo 201d ) methods . inventory values at fifo , as shown in note 5 , approximate replacement cost . property , plant and equipment property , plant and equipment assets are stated at cost . merchandising and customer equipment consists principally of various dispensing systems for the company 2019s cleaning and sanitizing products , dishwashing machines and process control and monitoring equipment . certain dispensing systems capitalized by the company are accounted for on a mass asset basis , whereby equipment is capitalized and depreciated as a group and written off when fully depreciated . the company capitalizes both internal and external costs of development or purchase of computer software for internal use . costs incurred for data conversion , training and maintenance associated with capitalized software are expensed as incurred . expenditures for major renewals and improvements , which significantly extend the useful lives of existing plant and equipment , are capitalized and depreciated . expenditures for repairs and maintenance are charged to expense as incurred . upon retirement or disposition of plant and equipment , the cost and related accumulated depreciation are removed from the accounts and any resulting gain or loss is recognized in income . depreciation is charged to operations using the straight-line method over the assets 2019 estimated useful lives ranging from 5 to 40 years for buildings and leasehold improvements , 3 to 20 years for machinery and equipment , 3 to 15 years for merchandising and customer equipment and 3 to 7 years for capitalized software . the straight-line method of depreciation reflects an appropriate allocation of the cost of the assets to earnings in proportion to the amount of economic benefits obtained by the company in each reporting period . depreciation expense was $ 586 million , $ 561 million and $ 560 million for 2017 , 2016 and 2015 , respectively. .
| string | null | allowance_2017 = 71.5
allowance_2016 = 67.6
allowance_2015 = 75.3
change = allowance_2017 - allowance_2016
percent_change = change / allowance_2016
answer = percent_change * 100 |
by what percent did total balance increase between 2018 and 2019? | 76.4800033569 | CodeFinQA | westrock company notes to consolidated financial statements 2014 ( continued ) consistent with prior years , we consider a portion of our earnings from certain foreign subsidiaries as subject to repatriation and we provide for taxes accordingly . however , we consider the unremitted earnings and all other outside basis differences from all other foreign subsidiaries to be indefinitely reinvested . accordingly , we have not provided for any taxes that would be due . as of september 30 , 2019 , we estimate our outside basis difference in foreign subsidiaries that are considered indefinitely reinvested to be approximately $ 1.6 billion . the components of the outside basis difference are comprised of purchase accounting adjustments , undistributed earnings , and equity components . except for the portion of our earnings from certain foreign subsidiaries where we provided for taxes , we have not provided for any taxes that would be due upon the reversal of the outside basis differences . however , in the event of a distribution in the form of dividends or dispositions of the subsidiaries , we may be subject to incremental u.s . income taxes , subject to an adjustment for foreign tax credits , and withholding taxes or income taxes payable to the foreign jurisdictions . as of september 30 , 2019 , the determination of the amount of unrecognized deferred tax liability related to any remaining undistributed foreign earnings not subject to the transition tax and additional outside basis differences is not practicable . a reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows ( in millions ) : .
| | 2019 | 2018 | 2017 |
| :--- | :--- | :--- | :--- |
| Balance at beginning of fiscal year | $127.1 | $148.9 | $166.8 |
| Additions related to purchase accounting<sup>(1)</sup> | 1.0 | 3.4 | 7.7 |
| Additions for tax positions taken in current year<sup>(2)</sup> | 103.8 | 3.1 | 5.0 |
| Additions for tax positions taken in prior fiscal years | 1.8 | 18.0 | 15.2 |
| Reductions for tax positions taken in prior fiscal years | ( 0.5) | ( 5.3) | ( 25.6) |
| Reductions due to settlement<sup>(3)</sup> | ( 4.0) | ( 29.4) | ( 14.1) |
| (Reductions) additions for currency translation adjustments | (1.7) | (9.6) | 2.0 |
| Reductions as a result of a lapse of the applicable statute oflimitations | ( 3.2) | ( 2.0) | ( 8.1) |
| Balance at end of fiscal year | $224.3 | $127.1 | $148.9 |
( 1 ) amounts in fiscal 2019 relate to the kapstone acquisition . amounts in fiscal 2018 and 2017 relate to the mps acquisition . ( 2 ) additions for tax positions taken in current fiscal year includes primarily positions taken related to foreign subsidiaries . ( 3 ) amounts in fiscal 2019 relate to the settlements of state and foreign audit examinations . amounts in fiscal 2018 relate to the settlement of state audit examinations and federal and state amended returns filed related to affirmative adjustments for which there was a reserve . amounts in fiscal 2017 relate to the settlement of federal and state audit examinations with taxing authorities . as of september 30 , 2019 and 2018 , the total amount of unrecognized tax benefits was approximately $ 224.3 million and $ 127.1 million , respectively , exclusive of interest and penalties . of these balances , as of september 30 , 2019 and 2018 , if we were to prevail on all unrecognized tax benefits recorded , approximately $ 207.5 million and $ 108.7 million , respectively , would benefit the effective tax rate . we regularly evaluate , assess and adjust the related liabilities in light of changing facts and circumstances , which could cause the effective tax rate to fluctuate from period to period . resolution of the uncertain tax positions could have a material adverse effect on our cash flows or materially benefit our results of operations in future periods depending upon their ultimate resolution . see 201cnote 18 . commitments and contingencies 2014 brazil tax liability 201d we recognize estimated interest and penalties related to unrecognized tax benefits in income tax expense in the consolidated statements of income . as of september 30 , 2019 , we had liabilities of $ 80.0 million related to estimated interest and penalties for unrecognized tax benefits . as of september 30 , 2018 , we had liabilities of $ 70.4 million , related to estimated interest and penalties for unrecognized tax benefits . our results of operations for the fiscal year ended september 30 , 2019 , 2018 and 2017 include expense of $ 9.7 million , $ 5.8 million and $ 7.4 million , respectively , net of indirect benefits , related to estimated interest and penalties with respect to the liability for unrecognized tax benefits . as of september 30 , 2019 , it is reasonably possible that our unrecognized tax benefits will decrease by up to $ 8.7 million in the next twelve months due to expiration of various statues of limitations and settlement of issues. .
| string | null | tax_liability_2019 = 224.3
tax_liability_2018 = 127.1
decrease = tax_liability_2019 - tax_liability_2018
percent_decrease = decrease / tax_liability_2018
answer = percent_decrease * 100 |
what is the total amount of securities that can be issued by entergy texas , in millions of dollars , if the application is accepted? | 1800 | CodeFinQA | entergy texas , inc . management's financial discussion and analysis dividends or other distributions on its common stock . currently , all of entergy texas' retained earnings are available for distribution . sources of capital entergy texas' sources to meet its capital requirements include : internally generated funds ; cash on hand ; debt or preferred stock issuances ; and bank financing under new or existing facilities . entergy texas may refinance or redeem debt prior to maturity , to the extent market conditions and interest and dividend rates are favorable . all debt and common and preferred stock issuances by entergy texas require prior regulatory approval . preferred stock and debt issuances are also subject to issuance tests set forth in its corporate charter , bond indentures , and other agreements . entergy texas has sufficient capacity under these tests to meet its foreseeable capital needs . entergy gulf states , inc . filed with the ferc an application , on behalf of entergy texas , for authority to issue up to $ 200 million of short-term debt , up to $ 300 million of tax-exempt bonds , and up to $ 1.3 billion of other long- term securities , including common and preferred or preference stock and long-term debt . on november 8 , 2007 , the ferc issued orders granting the requested authority for a two-year period ending november 8 , 2009 . entergy texas' receivables from or ( payables to ) the money pool were as follows as of december 31 for each of the following years: .
| 2008 | 2007 | 2006 | 2005 |
| :--- | :--- | :--- | :--- |
| (In Thousands) |
| ($50,794) | $154,176 | $97,277 | $136,545 |
see note 4 to the financial statements for a description of the money pool . entergy texas has a credit facility in the amount of $ 100 million scheduled to expire in august 2012 . as of december 31 , 2008 , $ 100 million was outstanding on the credit facility . in february 2009 , entergy texas repaid its credit facility with the proceeds from the bond issuance discussed below . on june 2 , 2008 and december 8 , 2008 , under the terms of the debt assumption agreement between entergy texas and entergy gulf states louisiana that is discussed in note 5 to the financial statements , entergy texas paid at maturity $ 148.8 million and $ 160.3 million , respectively , of entergy gulf states louisiana first mortgage bonds , which results in a corresponding decrease in entergy texas' debt assumption liability . in december 2008 , entergy texas borrowed $ 160 million from its parent company , entergy corporation , under a $ 300 million revolving credit facility pursuant to an inter-company credit agreement between entergy corporation and entergy texas . this borrowing would have matured on december 3 , 2013 . entergy texas used these borrowings , together with other available corporate funds , to pay at maturity the portion of the $ 350 million floating rate series of first mortgage bonds due december 2008 that had been assumed by entergy texas , and that bond series is no longer outstanding . in january 2009 , entergy texas repaid its $ 160 million note payable to entergy corporation with the proceeds from the bond issuance discussed below . in january 2009 , entergy texas issued $ 500 million of 7.125% ( 7.125 % ) series mortgage bonds due february 2019 . entergy texas used a portion of the proceeds to repay its $ 160 million note payable to entergy corporation , to repay the $ 100 million outstanding on its credit facility , and to repay short-term borrowings under the entergy system money pool . entergy texas intends to use the remaining proceeds to repay on or prior to maturity approximately $ 70 million of obligations that had been assumed by entergy texas under the debt assumption agreement with entergy gulf states louisiana and for other general corporate purposes. .
| string | null | a = 1.3 * 1000
b = 200 + 300
c = a + b |
the change in retail electric price accounts for what percent of revenue increase? | 66.4899978638 | CodeFinQA | 2016 compared to 2015 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges ( credits ) . following is an analysis of the change in net revenue comparing 2016 to 2015 . amount ( in millions ) .
| | Amount (In Millions) |
| :--- | :--- |
| 2015 net revenue | $696.3 |
| Retail electric price | 12.9 |
| Volume/weather | 4.7 |
| Net wholesale revenue | (2.4) |
| Reserve equalization | (2.8) |
| Other | (3.3) |
| 2016 net revenue | $705.4 |
the retail electric price variance is primarily due to a $ 19.4 million net annual increase in revenues , as approved by the mpsc , effective with the first billing cycle of july 2016 , and an increase in revenues collected through the storm damage rider . a0 see note 2 to the financial statements for more discussion of the formula rate plan and the storm damage rider . the volume/weather variance is primarily due to an increase of 153 gwh , or 1% ( 1 % ) , in billed electricity usage , including an increase in industrial usage , partially offset by the effect of less favorable weather on residential and commercial sales . the increase in industrial usage is primarily due to expansion projects in the pulp and paper industry , increased demand for existing customers , primarily in the metals industry , and new customers in the wood products industry . the net wholesale revenue variance is primarily due to entergy mississippi 2019s exit from the system agreement in november 2015 . the reserve equalization revenue variance is primarily due to the absence of reserve equalization revenue as compared to the same period in 2015 resulting from entergy mississippi 2019s exit from the system agreement in november other income statement variances 2017 compared to 2016 other operation and maintenance expenses decreased primarily due to : 2022 a decrease of $ 12 million in fossil-fueled generation expenses primarily due to lower long-term service agreement costs and a lower scope of work done during plant outages in 2017 as compared to the same period in 2016 ; and 2022 a decrease of $ 3.6 million in storm damage provisions . see note 2 to the financial statements for a discussion on storm cost recovery . the decrease was partially offset by an increase of $ 4.8 million in energy efficiency costs and an increase of $ 2.7 million in compensation and benefits costs primarily due to higher incentive-based compensation accruals in 2017 as compared to the prior year . entergy mississippi , inc . management 2019s financial discussion and analysis .
| string | null | retail_electric_price_2016 = 12.9
retail_electric_price_2015 = 19.4
percent_change = retail_electric_price_2016 / retail_electric_price_2015
answer = percent_change * 100 |
what is the rate of return of an investment in nasdaq composite from the end of the year in 2015 to the end of the year in 2016? | 6.1999998093 | CodeFinQA | stockholder return performance graph the following graph compares the cumulative 5-year total stockholder return on our common stock relative to the cumulative total return of the nasdaq composite index and the s&p 400 information technology index . the graph assumes that the value of the investment in our common stock and in each index on december 31 , 2011 ( including reinvestment of dividends ) was $ 100 and tracks it each year thereafter on the last day of our fiscal year through december 31 , 2016 and , for each index , on the last day of the calendar year . comparison of 5 year cumulative total return* among cadence design systems , inc. , the nasdaq composite index , and s&p 400 information technology cadence design systems , inc . nasdaq composite s&p 400 information technology 12/31/1612/28/13 1/2/1612/31/11 1/3/1512/29/12 *$ 100 invested on 12/31/11 in stock or index , including reinvestment of dividends . indexes calculated on month-end basis . copyright a9 2017 standard & poor 2019s , a division of s&p global . all rights reserved. .
| | 12/31/2011 | 12/29/2012 | 12/28/2013 | 1/3/2015 | 1/2/2016 | 12/31/2016 |
| :--- | :--- | :--- | :--- | :--- | :--- | :--- |
| Cadence Design Systems, Inc. | 100.00 | 129.23 | 133.94 | 181.06 | 200.10 | 242.50 |
| NASDAQ Composite | 100.00 | 116.41 | 165.47 | 188.69 | 200.32 | 216.54 |
| S&P 400 Information Technology | 100.00 | 118.41 | 165.38 | 170.50 | 178.74 | 219.65 |
the stock price performance included in this graph is not necessarily indicative of future stock price performance. .
| string | null | nasdaq_composite_2016 = 200.32
nasdaq_composite_2015 = 188.69
percent_change = ( nasdaq_composite_2016 - nasdaq_composite_2015 ) / nasdaq_composite_2015
answer = percent_change * 100 |
what was the percentage decrease from october to november on total number of share purchased? | 54.2400016785 | CodeFinQA | part ii item 5 . market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities market information our common stock is listed and traded on the new york stock exchange under the symbol 201cipg 201d . as of february 13 , 2019 , there were approximately 10000 registered holders of our outstanding common stock . on february 13 , 2019 , we announced that our board of directors ( the 201cboard 201d ) had declared a common stock cash dividend of $ 0.235 per share , payable on march 15 , 2019 to holders of record as of the close of business on march 1 , 2019 . although it is the board 2019s current intention to declare and pay future dividends , there can be no assurance that such additional dividends will in fact be declared and paid . any and the amount of any such declaration is at the discretion of the board and will depend upon factors such as our earnings , financial position and cash requirements . equity compensation plans see item 12 for information about our equity compensation plans . transfer agent and registrar for common stock the transfer agent and registrar for our common stock is : computershare shareowner services llc 480 washington boulevard 29th floor jersey city , new jersey 07310 telephone : ( 877 ) 363-6398 sales of unregistered securities not applicable . repurchases of equity securities the following table provides information regarding our purchases of our equity securities during the period from october 1 , 2018 to december 31 , 2018 . total number of shares ( or units ) purchased 1 average price paid per share ( or unit ) 2 total number of shares ( or units ) purchased as part of publicly announced plans or programs 3 maximum number ( or approximate dollar value ) of shares ( or units ) that may yet be purchased under the plans or programs 3 .
| | Total Number ofShares (or Units)Purchased<sup>1</sup> | Average Price Paidper Share (or Unit)<sup>2</sup> | Total Number ofShares (or Units)Purchased as Part ofPublicly AnnouncedPlans or Programs<sup>3</sup> | Maximum Number (orApproximate Dollar Value)of Shares (or Units)that May Yet Be PurchasedUnder the Plans orPrograms<sup>3</sup> |
| :--- | :--- | :--- | :--- | :--- |
| October 1 - 31 | 3,824 | $23.30 | — | $338,421,933 |
| November 1 - 30 | 1,750 | $23.77 | — | $338,421,933 |
| December 1 - 31 | — | — | — | $338,421,933 |
| Total | 5,574 | $23.45 | — | |
1 the total number of shares of our common stock , par value $ 0.10 per share , repurchased were withheld under the terms of grants under employee stock- based compensation plans to offset tax withholding obligations that occurred upon vesting and release of restricted shares ( the 201cwithheld shares 201d ) . 2 the average price per share for each of the months in the fiscal quarter and for the three-month period was calculated by dividing the sum in the applicable period of the aggregate value of the tax withholding obligations by the sum of the number of withheld shares . 3 in february 2017 , the board authorized a share repurchase program to repurchase from time to time up to $ 300.0 million , excluding fees , of our common stock ( the 201c2017 share repurchase program 201d ) . in february 2018 , the board authorized a share repurchase program to repurchase from time to time up to $ 300.0 million , excluding fees , of our common stock , which was in addition to any amounts remaining under the 2017 share repurchase program . on july 2 , 2018 , in connection with the announcement of the acxiom acquisition , we announced that share repurchases will be suspended for a period of time in order to reduce the increased debt levels incurred in conjunction with the acquisition , and no shares were repurchased pursuant to the share repurchase programs in the periods reflected . there are no expiration dates associated with the share repurchase programs. .
| string | null | decrease = 3824 - 1750
percent_decrease = decrease / 3824
percent_total = percent_decrease * 100
answer = percent_total |
based solely on cash for towers acquisitions , what was the average cost per tower acquired in 2005-2007? | 200000 | CodeFinQA | american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) maturities 2014as of december 31 , 2007 , aggregate carrying value of long-term debt , including capital leases , for the next five years and thereafter are estimated to be ( in thousands ) : year ending december 31 .
| 2008 | $1,817 |
| :--- | :--- |
| 2009 | 1,241 |
| 2010 | 78,828 |
| 2011 | 13,714 |
| 2012 | 1,894,998 |
| Thereafter | 2,292,895 |
| Total cash obligations | $4,283,493 |
| Accreted value of the discount and premium of 3.00% Notes and 7.125% Notes | 1,791 |
| Balance as of December 31, 2007 | $4,285,284 |
4 . acquisitions during the years ended december 31 , 2007 , 2006 and 2005 , the company used cash to acquire a total of ( i ) 293 towers and the assets of a structural analysis firm for approximately $ 44.0 million in cash ( ii ) 84 towers and 6 in-building distributed antenna systems for approximately $ 14.3 million and ( iii ) 30 towers for approximately $ 6.0 million in cash , respectively . the tower asset acquisitions were primarily in mexico and brazil under ongoing agreements . during the year ended december 31 , 2005 , the company also completed its merger with spectrasite , inc . pursuant to which the company acquired approximately 7800 towers and 100 in-building distributed antenna systems . under the terms of the merger agreement , in august 2005 , spectrasite , inc . merged with a wholly- owned subsidiary of the company , and each share of spectrasite , inc . common stock converted into the right to receive 3.575 shares of the company 2019s class a common stock . the company issued approximately 169.5 million shares of its class a common stock and reserved for issuance approximately 9.9 million and 6.8 million of class a common stock pursuant to spectrasite , inc . options and warrants , respectively , assumed in the merger . the final allocation of the $ 3.1 billion purchase price is summarized in the company 2019s annual report on form 10-k for the year ended december 31 , 2006 . the acquisitions consummated by the company during 2007 , 2006 and 2005 , have been accounted for under the purchase method of accounting in accordance with sfas no . 141 201cbusiness combinations 201d ( sfas no . 141 ) . the purchase prices have been allocated to the net assets acquired and the liabilities assumed based on their estimated fair values at the date of acquisition . the company primarily acquired its tower assets from third parties in one of two types of transactions : the purchase of a business or the purchase of assets . the structure of each transaction affects the way the company allocates purchase price within the consolidated financial statements . in the case of tower assets acquired through the purchase of a business , such as the company 2019s merger with spectrasite , inc. , the company allocates the purchase price to the assets acquired and liabilities assumed at their estimated fair values as of the date of acquisition . the excess of the purchase price paid by the company over the estimated fair value of net assets acquired has been recorded as goodwill . in the case of an asset purchase , the company first allocates the purchase price to property and equipment for the appraised value of the towers and to identifiable intangible assets ( primarily acquired customer base ) . the company then records any remaining purchase price within intangible assets as a 201cnetwork location intangible . 201d .
| string | null | tower_acquisition_cost = 6.0 * 1000000
average_tower_cost = tower_acquisition_cost / 30
answer = average_tower_cost |
what portion of the maximum exposure to loss for entergy if no cash is repaid to domestic utility companies is incurred from entergy louisiana? | 35.2000007629 | CodeFinQA | domestic utility companies and system energy notes to respective financial statements protested the disallowance of these deductions to the office of irs appeals . entergy expects to receive a notice of deficiency in 2005 for this item , and plans to vigorously contest this matter . entergy believes that the contingency provision established in its financial statements sufficiently covers the risk associated with this item . mark to market of certain power contracts in 2001 , entergy louisiana changed its method of accounting for tax purposes related to its wholesale electric power contracts . the most significant of these is the contract to purchase power from the vidalia hydroelectric project . the new tax accounting method has provided a cumulative cash flow benefit of approximately $ 790 million as of december 31 , 2004 . the related irs interest exposure is $ 93 million at december 31 , 2004 . this benefit is expected to reverse in the years 2005 through 2031 . the election did not reduce book income tax expense . the timing of the reversal of this benefit depends on several variables , including the price of power . due to the temporary nature of the tax benefit , the potential interest charge represents entergy's net earnings exposure . entergy louisiana's 2001 tax return is currently under examination by the irs , though no adjustments have yet been proposed with respect to the mark to market election . entergy believes that the contingency provision established in its financial statements will sufficiently cover the risk associated with this issue . cashpoint bankruptcy ( entergy arkansas , entergy gulf states , entergy louisiana , entergy mississippi , and entergy new orleans ) in 2003 the domestic utility companies entered an agreement with cashpoint network services ( cashpoint ) under which cashpoint was to manage a network of payment agents through which entergy's utility customers could pay their bills . the payment agent system allows customers to pay their bills at various commercial or governmental locations , rather than sending payments by mail . approximately one-third of entergy's utility customers use payment agents . on april 19 , 2004 , cashpoint failed to pay funds due to the domestic utility companies that had been collected through payment agents . the domestic utility companies then obtained a temporary restraining order from the civil district court for the parish of orleans , state of louisiana , enjoining cashpoint from distributing funds belonging to entergy , except by paying those funds to entergy . on april 22 , 2004 , a petition for involuntary chapter 7 bankruptcy was filed against cashpoint by other creditors in the united states bankruptcy court for the southern district of new york . in response to these events , the domestic utility companies expanded an existing contract with another company to manage all of their payment agents . the domestic utility companies filed proofs of claim in the cashpoint bankruptcy proceeding in september 2004 . although entergy cannot precisely determine at this time the amount that cashpoint owes to the domestic utility companies that may not be repaid , it has accrued an estimate of loss based on current information . if no cash is repaid to the domestic utility companies , an event entergy does not believe is likely , the current estimates of maximum exposure to loss are approximately as follows : amount ( in millions ) .
| | Amount (In Millions) |
| :--- | :--- |
| Entergy Arkansas | $1.8 |
| Entergy Gulf States | $7.7 |
| Entergy Louisiana | $8.8 |
| Entergy Mississippi | $4.3 |
| Entergy New Orleans | $2.4 |
environmental issues ( entergy gulf states ) entergy gulf states has been designated as a prp for the cleanup of certain hazardous waste disposal sites . as of december 31 , 2004 , entergy gulf states does not expect the remaining clean-up costs to exceed its recorded liability of $ 1.5 million for the remaining sites at which the epa has designated entergy gulf states as a prp. .
| string | null | entergy_arkansas_exposure = 1.8
entergy_gulf_states_exposure = 7.7
entergy_louisiana_exposure = 8.8
entergy_mississippi_exposure = 4.3
entergy_new_orleans_exposure = 2.4
total_exposure = entergy_arkansas_exposure + entergy_gulf_states_exposure + entergy_louisiana_exposure + entergy_mississippi_exposure + entergy_new_orleans_exposure
entergy_louisiana_exposure_percent = entergy_louisiana_exposure / total_exposure
answer = entergy_louisiana_exposure_percent * 100 |
considering the years 2016 and 2017 , what is the average current portion? | 18887.5 | CodeFinQA | 14 . accounting for certain long-lived assets eog reviews its proved oil and gas properties for impairment purposes by comparing the expected undiscounted future cash flows at a depreciation , depletion and amortization group level to the unamortized capitalized cost of the asset . the carrying rr values for assets determined to be impaired were adjusted to estimated fair value using the income approach described in the fair value measurement topic of the asc . in certain instances , eog utilizes accepted offers from third-party purchasers as the basis for determining fair value . during 2017 , proved oil and gas properties with a carrying amount of $ 370 million were written down to their fair value of $ 146 million , resulting in pretax impairment charges of $ 224 million . during 2016 , proved oil and gas properties with a carrying rr amount of $ 643 million were written down to their fair value of $ 527 million , resulting in pretax impairment charges of $ 116 million . impairments in 2017 , 2016 and 2015 included domestic legacy natural gas assets . amortization and impairments of unproved oil and gas property costs , including amortization of capitalized interest , were $ 211 million , $ 291 million and $ 288 million during 2017 , 2016 and 2015 , respectively . 15 . asset retirement obligations the following table presents the reconciliation of the beginning and ending aggregate carrying amounts of short-term and long-term legal obligations associated with the retirement of property , plant and equipment for the years ended december 31 , 2017 and 2016 ( in thousands ) : .
| | 2017 | 2016 |
| :--- | :--- | :--- |
| Carrying Amount at Beginning of Period | $912,926 | $811,554 |
| Liabilities Incurred<sup>(1)</sup> | 54,764 | 212,739 |
| Liabilities Settled<sup>(2)</sup> | (61,871) | (94,800) |
| Accretion | 34,708 | 32,306 |
| Revisions | (9,818) | (38,286) |
| Foreign Currency Translations | 16,139 | (10,587) |
| Carrying Amount at End of Period | $946,848 | $912,926 |
| Current Portion | $19,259 | $18,516 |
| Noncurrent Portion | $927,589 | $894,410 |
( 1 ) includes $ 164 million in 2016 related to yates transaction ( see note 17 ) . ( 2 ) includes settlements related to asset sales . the current and noncurrent portions of eog's asset retirement obligations are included in current liabilities - other and other liabilities , respectively , on the consolidated balance sheets. .
| string | null | table_row = [19259, 18516] # row labeled current portion
a = sum(table_row) / len(table_row) |
what is the difference in percentage performance for aptiv plc versus the automotive peer group for the five year period ending december 31 2018? | 23.9099998474 | CodeFinQA | part ii item 5 . market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities our ordinary shares have been publicly traded since november 17 , 2011 when our ordinary shares were listed and began trading on the new york stock exchange ( 201cnyse 201d ) under the symbol 201cdlph . 201d on december 4 , 2017 , following the spin-off of delphi technologies , the company changed its name to aptiv plc and its nyse symbol to 201captv . 201d as of january 25 , 2019 , there were 2 shareholders of record of our ordinary shares . the following graph reflects the comparative changes in the value from december 31 , 2013 through december 31 , 2018 , assuming an initial investment of $ 100 and the reinvestment of dividends , if any in ( 1 ) our ordinary shares , ( 2 ) the s&p 500 index and ( 3 ) the automotive peer group . historical share prices of our ordinary shares have been adjusted to reflect the separation . historical performance may not be indicative of future shareholder returns . stock performance graph * $ 100 invested on december 31 , 2013 in our stock or in the relevant index , including reinvestment of dividends . fiscal year ended december 31 , 2018 . ( 1 ) aptiv plc , adjusted for the distribution of delphi technologies on december 4 , 2017 ( 2 ) s&p 500 2013 standard & poor 2019s 500 total return index ( 3 ) automotive peer group 2013 adient plc , american axle & manufacturing holdings inc , aptiv plc , borgwarner inc , cooper tire & rubber co , cooper- standard holdings inc , dana inc , dorman products inc , ford motor co , garrett motion inc. , general motors co , gentex corp , gentherm inc , genuine parts co , goodyear tire & rubber co , lear corp , lkq corp , meritor inc , motorcar parts of america inc , standard motor products inc , stoneridge inc , superior industries international inc , tenneco inc , tesla inc , tower international inc , visteon corp , wabco holdings inc company index december 31 , december 31 , december 31 , december 31 , december 31 , december 31 .
| Company Index | December 31, 2013 | December 31, 2014 | December 31, 2015 | December 31, 2016 | December 31, 2017 | December 31, 2018 |
| :--- | :--- | :--- | :--- | :--- | :--- | :--- |
| Aptiv PLC (1) | $100.00 | $122.75 | $146.49 | $117.11 | $178.46 | $130.80 |
| S&P 500 (2) | 100.00 | 113.69 | 115.26 | 129.05 | 157.22 | 150.33 |
| Automotive Peer Group (3) | 100.00 | 107.96 | 108.05 | 107.72 | 134.04 | 106.89 |
.
| string | null | aptiv_plc_return = 130.80
snp_return = 100
automotive_peer_group_return = 106.89
percent_change_aptiv_plc = (aptiv_plc_return - snp_return) / snp_return
percent_change_snp = (snp_return - snp_return) / snp_return
percent_change_automotive_peer_group = (automotive_peer_group_return - snp_return) / snp_return
percent_change_difference = percent_change_aptiv_plc - percent_change_automotive_peer_group
answer = percent_change_difference * 100 |
what percent increase does dilutive stock have on the value of weighted shares outstanding for earnings per share in 2013? | 1.2970000505 | CodeFinQA | zimmer holdings , inc . 2013 form 10-k annual report notes to consolidated financial statements ( continued ) state income tax returns are generally subject to examination for a period of 3 to 5 years after filing of the respective return . the state impact of any federal changes generally remains subject to examination by various states for a period of up to one year after formal notification to the states . we have various state income tax returns in the process of examination , administrative appeals or litigation . our tax returns are currently under examination in various foreign jurisdictions . foreign jurisdictions have statutes of limitations generally ranging from 3 to 5 years . years still open to examination by foreign tax authorities in major jurisdictions include : australia ( 2009 onward ) , canada ( 2007 onward ) , france ( 2011 onward ) , germany ( 2009 onward ) , ireland ( 2009 onward ) , italy ( 2010 onward ) , japan ( 2010 onward ) , korea ( 2008 onward ) , puerto rico ( 2008 onward ) , switzerland ( 2012 onward ) , and the united kingdom ( 2012 onward ) . 16 . capital stock and earnings per share we are authorized to issue 250 million shares of preferred stock , none of which were issued or outstanding as of december 31 , 2013 . the numerator for both basic and diluted earnings per share is net earnings available to common stockholders . the denominator for basic earnings per share is the weighted average number of common shares outstanding during the period . the denominator for diluted earnings per share is weighted average shares outstanding adjusted for the effect of dilutive stock options and other equity awards . the following is a reconciliation of weighted average shares for the basic and diluted share computations ( in millions ) : .
| For the Years Ended December 31, | 2013 | 2012 | 2011 |
| :--- | :--- | :--- | :--- |
| Weighted average shares outstanding for basic net earnings per share | 169.6 | 174.9 | 187.6 |
| Effect of dilutive stock options and other equity awards | 2.2 | 1.1 | 1.1 |
| Weighted average shares outstanding for diluted net earnings per share | 171.8 | 176.0 | 188.7 |
weighted average shares outstanding for basic net earnings per share 169.6 174.9 187.6 effect of dilutive stock options and other equity awards 2.2 1.1 1.1 weighted average shares outstanding for diluted net earnings per share 171.8 176.0 188.7 for the year ended december 31 , 2013 , an average of 3.1 million options to purchase shares of common stock were not included in the computation of diluted earnings per share as the exercise prices of these options were greater than the average market price of the common stock . for the years ended december 31 , 2012 and 2011 , an average of 11.9 million and 13.2 million options , respectively , were not included . during 2013 , we repurchased 9.1 million shares of our common stock at an average price of $ 78.88 per share for a total cash outlay of $ 719.0 million , including commissions . effective january 1 , 2014 , we have a new share repurchase program that authorizes purchases of up to $ 1.0 billion with no expiration date . no further purchases will be made under the previous share repurchase program . 17 . segment data we design , develop , manufacture and market orthopaedic reconstructive implants , biologics , dental implants , spinal implants , trauma products and related surgical products which include surgical supplies and instruments designed to aid in surgical procedures and post-operation rehabilitation . we also provide other healthcare-related services . we manage operations through three major geographic segments 2013 the americas , which is comprised principally of the u.s . and includes other north , central and south american markets ; europe , which is comprised principally of europe and includes the middle east and african markets ; and asia pacific , which is comprised primarily of japan and includes other asian and pacific markets . this structure is the basis for our reportable segment information discussed below . management evaluates reportable segment performance based upon segment operating profit exclusive of operating expenses pertaining to share-based payment expense , inventory step-up and certain other inventory and manufacturing related charges , 201ccertain claims , 201d goodwill impairment , 201cspecial items , 201d and global operations and corporate functions . global operations and corporate functions include research , development engineering , medical education , brand management , corporate legal , finance , and human resource functions , u.s. , puerto rico and ireland-based manufacturing operations and logistics and intangible asset amortization resulting from business combination accounting . intercompany transactions have been eliminated from segment operating profit . management reviews accounts receivable , inventory , property , plant and equipment , goodwill and intangible assets by reportable segment exclusive of u.s. , puerto rico and ireland-based manufacturing operations and logistics and corporate assets. .
| string | null | dilutive_effect = 171.8 / 169.6
percent_increase = dilutive_effect - 1
answer = percent_increase * 100 |
what was the percentage change in unrealized gains ( losses ) on afs securities from december 31 , 2006 to december 31 , 2007? | 1210 | CodeFinQA | notes to consolidated financial statements jpmorgan chase & co . 162 jpmorgan chase & co . / 2007 annual report note 25 2013 accumulated other comprehensive income ( loss ) accumulated other comprehensive income ( loss ) includes the after-tax change in sfas 115 unrealized gains and losses on afs securities , sfas 52 foreign currency translation adjustments ( including the impact of related derivatives ) , sfas 133 cash flow hedging activities and sfas 158 net loss and prior service cost ( credit ) related to the firm 2019s defined benefit pension and opeb plans . net loss and accumulated translation prior service ( credit ) of other unrealized gains ( losses ) adjustments , cash defined benefit pension comprehensive ( in millions ) on afs securities ( a ) net of hedges flow hedges and opeb plans ( e ) income ( loss ) balance at december 31 , 2004 $ ( 61 ) $ ( 8 ) $ ( 139 ) $ 2014 $ ( 208 ) net change ( 163 ) ( b ) 2014 ( 255 ) 2014 ( 418 ) balance at december 31 , 2005 ( 224 ) ( 8 ) ( 394 ) 2014 ( 626 ) net change 253 ( c ) 13 ( 95 ) 2014 171 adjustment to initially apply sfas 158 , net of taxes 2014 2014 2014 ( 1102 ) ( 1102 ) .
| (in millions) | Unrealized gains (losses) on AFS securities<sup></sup><sup>(a)</sup><sup></sup> | Translation adjustments, net of hedges | Cash flow hedges | Net loss andprior service (credit) of defined benefit pension and OPEB plans<sup></sup><sup>(e)</sup><sup></sup> | Accumulated other comprehensive income (loss) |
| :--- | :--- | :--- | :--- | :--- | :--- |
| Balance at December 31, 2004 | $ (61) | $ (8) | $ (139) | $ — | $ (208) |
| Net change | (163)<sup></sup><sup>(b)</sup><sup></sup> | — | (255) | — | (418) |
| Balance at December 31, 2005 | (224) | (8) | (394) | — | (626) |
| Net change | 253<sup></sup><sup>(c)</sup><sup></sup> | 13 | (95) | — | 171 |
| Adjustment to initially apply SFAS 158, net of taxes | — | — | — | (1,102) | (1,102) |
| Balance at December 31, 2006 | 29 | 5 | (489) | (1,102) | (1,557) |
| Cumulative effect of changes in accounting principles (SFAS 159) | (1) | — | — | — | (1) |
| Balance at January 1, 2007, adjusted | 28 | 5 | (489) | (1,102) | (1,558) |
| Net change | 352<sup>(d)</sup> | 3 | (313) | 599 | 641 |
| Balance at December 31, 2007 | $ 380 | $ 8 | $ (802) | $ (503) | $ (917) |
net change 352 ( d ) 3 ( 313 ) 599 641 balance at december 31 , 2007 $ 380 $ 8 $ ( 802 ) $ ( 503 ) $ ( 917 ) ( a ) represents the after-tax difference between the fair value and amortized cost of the afs securities portfolio and retained interests in securitizations recorded in other assets . ( b ) the net change during 2005 was due primarily to higher interest rates , partially offset by the reversal of unrealized losses from securities sales . ( c ) the net change during 2006 was due primarily to the reversal of unrealized losses from securities sales . ( d ) the net change during 2007 was due primarily to a decline in interest rates . ( e ) for further discussion of sfas 158 , see note 9 on pages 124 2013130 of this annual report. .
| string | null | unrealized_gains_2007 = 380
unrealized_gains_2006 = 29
change = unrealized_gains_2007 - unrealized_gains_2006
percent_change = change / unrealized_gains_2006
answer = percent_change * 100 |
in millions , what was the average ending balance in allowance for doubtful accounts? | 73.3000030518 | CodeFinQA | cash and cash equivalents cash equivalents include highly-liquid investments with a maturity of three months or less when purchased . accounts receivable and allowance for doubtful accounts accounts receivable are carried at the invoiced amounts , less an allowance for doubtful accounts , and generally do not bear interest . the company estimates the balance of allowance for doubtful accounts by analyzing accounts receivable balances by age and applying historical write-off and collection trend rates . the company 2019s estimates include separately providing for customer receivables based on specific circumstances and credit conditions , and when it is deemed probable that the balance is uncollectible . account balances are charged off against the allowance when it is determined the receivable will not be recovered . the company 2019s allowance for doubtful accounts balance also includes an allowance for the expected return of products shipped and credits related to pricing or quantities shipped of $ 14 million , $ 15 million and $ 14 million as of december 31 , 2016 , 2015 , and 2014 , respectively . returns and credit activity is recorded directly to sales as a reduction . the following table summarizes the activity in the allowance for doubtful accounts: .
| (millions) | 2016 | 2015 | 2014 |
| :--- | :--- | :--- | :--- |
| Beginning balance | $75 | $77 | $81 |
| Bad debt expense | 20 | 26 | 23 |
| Write-offs | (25) | (22) | (20) |
| Other (a) | (2) | (6) | (7) |
| Ending balance | $68 | $75 | $77 |
( a ) other amounts are primarily the effects of changes in currency translations and the impact of allowance for returns and credits . inventory valuations inventories are valued at the lower of cost or market . certain u.s . inventory costs are determined on a last-in , first-out ( 201clifo 201d ) basis . lifo inventories represented 40% ( 40 % ) and 39% ( 39 % ) of consolidated inventories as of december 31 , 2016 and 2015 , respectively . lifo inventories include certain legacy nalco u.s . inventory acquired at fair value as part of the nalco merger . all other inventory costs are determined using either the average cost or first-in , first-out ( 201cfifo 201d ) methods . inventory values at fifo , as shown in note 5 , approximate replacement cost . during 2015 , the company improved and standardized estimates related to its inventory reserves and product costing , resulting in a net pre-tax charge of approximately $ 6 million . separately , the actions resulted in a charge of $ 20.6 million related to inventory reserve calculations , partially offset by a gain of $ 14.5 million related to the capitalization of certain cost components into inventory . during 2016 , the company took additional actions to improve and standardize estimates related to the capitalization of certain cost components into inventory , which resulted in a gain of $ 6.2 million . these items are reflected within special ( gains ) and charges , as discussed in note 3 . property , plant and equipment property , plant and equipment assets are stated at cost . merchandising and customer equipment consists principally of various dispensing systems for the company 2019s cleaning and sanitizing products , dishwashing machines and process control and monitoring equipment . certain dispensing systems capitalized by the company are accounted for on a mass asset basis , whereby equipment is capitalized and depreciated as a group and written off when fully depreciated . the company capitalizes both internal and external costs of development or purchase of computer software for internal use . costs incurred for data conversion , training and maintenance associated with capitalized software are expensed as incurred . expenditures for major renewals and improvements , which significantly extend the useful lives of existing plant and equipment , are capitalized and depreciated . expenditures for repairs and maintenance are charged to expense as incurred . upon retirement or disposition of plant and equipment , the cost and related accumulated depreciation are removed from the accounts and any resulting gain or loss is recognized in income . depreciation is charged to operations using the straight-line method over the assets 2019 estimated useful lives ranging from 5 to 40 years for buildings and leasehold improvements , 3 to 20 years for machinery and equipment , 3 to 15 years for merchandising and customer equipment and 3 to 7 years for capitalized software . the straight-line method of depreciation reflects an appropriate allocation of the cost of the assets to earnings in proportion to the amount of economic benefits obtained by the company in each reporting period . depreciation expense was $ 561 million , $ 560 million and $ 558 million for 2016 , 2015 and 2014 , respectively. .
| string | null | table_row = [68, 75, 77] # row labeled ending balance
a = sum(table_row) / len(table_row) |
what is the fluctuation between the lowest and average operating margin? | 0.5299999714 | CodeFinQA | equity equity at december 31 , 2014 was $ 6.6 billion , a decrease of $ 1.6 billion from december 31 , 2013 . the decrease resulted primarily due to share repurchases of $ 2.3 billion , $ 273 million of dividends to shareholders , and an increase in accumulated other comprehensive loss of $ 760 million , partially offset by net income of $ 1.4 billion . the $ 760 million increase in accumulated other comprehensive loss from december 31 , 2013 , primarily reflects the following : 2022 negative net foreign currency translation adjustments of $ 504 million , which are attributable to the strengthening of the u.s . dollar against certain foreign currencies , 2022 an increase of $ 260 million in net post-retirement benefit obligations , 2022 net derivative gains of $ 5 million , and 2022 net investment losses of $ 1 million . review by segment general we serve clients through the following segments : 2022 risk solutions acts as an advisor and insurance and reinsurance broker , helping clients manage their risks , via consultation , as well as negotiation and placement of insurance risk with insurance carriers through our global distribution network . 2022 hr solutions partners with organizations to solve their most complex benefits , talent and related financial challenges , and improve business performance by designing , implementing , communicating and administering a wide range of human capital , retirement , investment management , health care , compensation and talent management strategies . risk solutions .
| Years ended December 31(millions, except percentage data) | 2014 | 2013 | 2012 |
| :--- | :--- | :--- | :--- |
| Revenue | $7,834 | $7,789 | $7,632 |
| Operating income | 1,648 | 1,540 | 1,493 |
| Operating margin | 21.0% | 19.8% | 19.6% |
the demand for property and casualty insurance generally rises as the overall level of economic activity increases and generally falls as such activity decreases , affecting both the commissions and fees generated by our brokerage business . the economic activity that impacts property and casualty insurance is described as exposure units , and is most closely correlated with employment levels , corporate revenue and asset values . during 2014 , pricing was flat on average globally , and we would still consider this to be a "soft market." in a soft market , premium rates flatten or decrease , along with commission revenues , due to increased competition for market share among insurance carriers or increased underwriting capacity . changes in premiums have a direct and potentially material impact on the insurance brokerage industry , as commission revenues are generally based on a percentage of the premiums paid by insureds . additionally , continuing through 2014 , we faced difficult conditions as a result of continued weakness in the global economy , the repricing of credit risk and the deterioration of the financial markets . weak economic conditions in many markets around the globe have reduced our customers' demand for our retail brokerage and reinsurance brokerage products , which have had a negative impact on our operational results . risk solutions generated approximately 65% ( 65 % ) of our consolidated total revenues in 2014 . revenues are generated primarily through fees paid by clients , commissions and fees paid by insurance and reinsurance companies , and investment income on funds held on behalf of clients . our revenues vary from quarter to quarter throughout the year as a result of the timing of our clients' policy renewals , the net effect of new and lost business , the timing of services provided to our clients , and the income we earn on investments , which is heavily influenced by short-term interest rates . we operate in a highly competitive industry and compete with many retail insurance brokerage and agency firms , as well as with individual brokers , agents , and direct writers of insurance coverage . specifically , we address the highly specialized .
| string | null | table_row = [21.0, 19.8, 19.6] # row labeled operating margin
a = sum(table_row) / len(table_row)
table_row = [21.0, 19.8, 19.6] # row labeled operating margin
b = min(table_row)
c = a - b |
in 2013 what was the percent of the future minimum payments on leases , and marketing and sponsorship for operating leases that was due in | 9.8000001907 | CodeFinQA | visa inc . notes to consolidated financial statements 2014 ( continued ) september 30 , 2013 market condition is based on the company 2019s total shareholder return ranked against that of other companies that are included in the standard & poor 2019s 500 index . the fair value of the performance- based shares , incorporating the market condition , is estimated on the grant date using a monte carlo simulation model . the grant-date fair value of performance-based shares in fiscal 2013 , 2012 and 2011 was $ 164.14 , $ 97.84 and $ 85.05 per share , respectively . earned performance shares granted in fiscal 2013 and 2012 vest approximately three years from the initial grant date . earned performance shares granted in fiscal 2011 vest in two equal installments approximately two and three years from their respective grant dates . all performance awards are subject to earlier vesting in full under certain conditions . compensation cost for performance-based shares is initially estimated based on target performance . it is recorded net of estimated forfeitures and adjusted as appropriate throughout the performance period . at september 30 , 2013 , there was $ 15 million of total unrecognized compensation cost related to unvested performance-based shares , which is expected to be recognized over a weighted-average period of approximately 1.0 years . note 17 2014commitments and contingencies commitments . the company leases certain premises and equipment throughout the world with varying expiration dates . the company incurred total rent expense of $ 94 million , $ 89 million and $ 76 million in fiscal 2013 , 2012 and 2011 , respectively . future minimum payments on leases , and marketing and sponsorship agreements per fiscal year , at september 30 , 2013 , are as follows: .
| (in millions) | 2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total |
| :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- |
| Operating leases | $100 | $77 | $43 | $35 | $20 | $82 | $357 |
| Marketing and sponsorships | 116 | 117 | 61 | 54 | 54 | 178 | 580 |
| Total | $216 | $194 | $104 | $89 | $74 | $260 | $937 |
select sponsorship agreements require the company to spend certain minimum amounts for advertising and marketing promotion over the life of the contract . for commitments where the individual years of spend are not specified in the contract , the company has estimated the timing of when these amounts will be spent . in addition to the fixed payments stated above , select sponsorship agreements require the company to undertake marketing , promotional or other activities up to stated monetary values to support events which the company is sponsoring . the stated monetary value of these activities typically represents the value in the marketplace , which may be significantly in excess of the actual costs incurred by the company . client incentives . the company has agreements with financial institution clients and other business partners for various programs designed to build payments volume , increase visa-branded card and product acceptance and win merchant routing transactions . these agreements , with original terms ranging from one to thirteen years , can provide card issuance and/or conversion support , volume/growth targets and marketing and program support based on specific performance requirements . these agreements are designed to encourage client business and to increase overall visa-branded payment and transaction volume , thereby reducing per-unit transaction processing costs and increasing brand awareness for all visa clients . payments made that qualify for capitalization , and obligations incurred under these programs are reflected on the consolidated balance sheet . client incentives are recognized primarily as a reduction .
| string | null | future_minimum_payments_2014 = 35
total_future_minimum_payments = 357
percent_future_minimum_payments = future_minimum_payments_2014 / total_future_minimum_payments
answer = percent_future_minimum_payments * 100 |
for 2017 , the estimated impact of tax legislation was what percent of the total as reported income tax provisions? | 64.3000030518 | CodeFinQA | the goldman sachs group , inc . and subsidiaries management 2019s discussion and analysis as of december 2017 , total staff increased 6% ( 6 % ) compared with december 2016 , reflecting investments in technology and marcus , and support of our regulatory efforts . 2016 versus 2015 . operating expenses in the consolidated statements of earnings were $ 20.30 billion for 2016 , 19% ( 19 % ) lower than 2015 . compensation and benefits expenses in the consolidated statements of earnings were $ 11.65 billion for 2016 , 8% ( 8 % ) lower than 2015 , reflecting a decrease in net revenues and the impact of expense savings initiatives . the ratio of compensation and benefits to net revenues for 2016 was 38.1% ( 38.1 % ) compared with 37.5% ( 37.5 % ) for 2015 . non-compensation expenses in the consolidated statements of earnings were $ 8.66 billion for 2016 , 30% ( 30 % ) lower than 2015 , primarily due to significantly lower net provisions for mortgage-related litigation and regulatory matters , which are included in other expenses . in addition , market development expenses and professional fees were lower compared with 2015 , reflecting expense savings initiatives . net provisions for litigation and regulatory proceedings for 2016 were $ 396 million compared with $ 4.01 billion for 2015 ( 2015 primarily related to net provisions for mortgage-related matters ) . 2016 included a $ 114 million charitable contribution to goldman sachs gives . compensation was reduced to fund this charitable contribution to goldman sachs gives . we ask our participating managing directors to make recommendations regarding potential charitable recipients for this contribution . as of december 2016 , total staff decreased 7% ( 7 % ) compared with december 2015 , due to expense savings initiatives . provision for taxes the effective income tax rate for 2017 was 61.5% ( 61.5 % ) , up from 28.2% ( 28.2 % ) for 2016 . the increase compared with 2016 reflected the estimated impact of tax legislation , which was enacted on december 22 , 2017 and , among other things , lowers u.s . corporate income tax rates as of january 1 , 2018 , implements a territorial tax system and imposes a repatriation tax on deemed repatriated earnings of foreign subsidiaries . the estimated impact of tax legislation was an increase in income tax expense of $ 4.40 billion , of which $ 3.32 billion was due to the repatriation tax and $ 1.08 billion was due to the effects of the implementation of the territorial tax system and the remeasurement of u.s . deferred tax assets at lower enacted corporate tax rates . the impact of tax legislation may differ from this estimate , possibly materially , due to , among other things , ( i ) refinement of our calculations based on updated information , ( ii ) changes in interpretations and assumptions , ( iii ) guidance that may be issued and ( iv ) actions we may take as a result of tax legislation . excluding the estimated impact of tax legislation , the effective income tax rate for 2017 was 22.0% ( 22.0 % ) , down from 28.2% ( 28.2 % ) for 2016 . this decrease was primarily due to tax benefits on the settlement of employee share-based awards in accordance with asu no . 2016-09 . the impact of these settlements in 2017 was a reduction to our provision for taxes of $ 719 million and a reduction in our effective income tax rate of 6.4 percentage points . see note 3 to the consolidated financial statements for further information about this asu . the effective income tax rate , excluding the estimated impact of tax legislation , is a non-gaap measure and may not be comparable to similar non-gaap measures used by other companies . we believe that presenting our effective income tax rate , excluding the estimated impact of tax legislation is meaningful , as excluding this item increases the comparability of period-to-period results . the table below presents the calculation of the effective income tax rate , excluding the estimated impact of tax legislation. .
| | Year Ended December 2017 |
| :--- | :--- |
| <i>$ in millions</i> | Pre-tax earnings | Provision for taxes | Effective income tax rate |
| As reported | $11,132 | $6,846 | 61.5% |
| Estimated impact of Tax Legislation | – | 4,400 | – |
| Excluding the estimated impact of TaxLegislation | $11,132 | $2,446 | 22.0% |
excluding the estimated impact of tax legislation $ 11132 $ 2446 22.0% ( 22.0 % ) the effective income tax rate for 2016 was 28.2% ( 28.2 % ) , down from 30.7% ( 30.7 % ) for 2015 . the decline compared with 2015 was primarily due to the impact of non-deductible provisions for mortgage-related litigation and regulatory matters in 2015 , partially offset by the impact of changes in tax law on deferred tax assets , the mix of earnings and an increase related to higher enacted tax rates impacting certain of our u.k . subsidiaries in 2016 . effective january 1 , 2018 , tax legislation reduced the u.s . corporate tax rate to 21 percent , eliminated tax deductions for certain expenses and enacted two new taxes , base erosion and anti-abuse tax ( beat ) and global intangible low taxed income ( gilti ) . beat is an alternative minimum tax that applies to banks that pay more than 2 percent of total deductible expenses to certain foreign subsidiaries . gilti is a 10.5 percent tax , before allowable credits for foreign taxes paid , on the annual earnings and profits of certain foreign subsidiaries . based on our current understanding of these rules , the impact of beat and gilti is not expected to be material to our effective income tax rate . goldman sachs 2017 form 10-k 55 .
| string | null | estimated_impact_of_tax_legislation = 4400 / 6846
answer = estimated_impact_of_tax_legislation * 100 |
what was the average recorded compensation expense related to bonus , time-based and performance based awards from 2011 to 2013 | 16.1000003815 | CodeFinQA | during the years ended december 31 , 2013 , 2012 , and 2011 , we recognized approximately $ 6.5 million , $ 5.1 million and $ 4.7 million of compensation expense , respectively , for these options . as of december 31 , 2013 , there was approximately $ 20.3 million of total unrecognized compensation cost related to unvested stock options , which is expected to be recognized over a weighted average period of three years . stock-based compensation effective january 1 , 1999 , we implemented a deferred compensation plan , or the deferred plan , covering certain of our employees , including our executives . the shares issued under the deferred plan were granted to certain employees , including our executives and vesting will occur annually upon the completion of a service period or our meeting established financial performance criteria . annual vesting occurs at rates ranging from 15% ( 15 % ) to 35% ( 35 % ) once performance criteria are reached . a summary of our restricted stock as of december 31 , 2013 , 2012 and 2011 and charges during the years then ended are presented below: .
| | 2013 | 2012 | 2011 |
| :--- | :--- | :--- | :--- |
| Balance at beginning of year | 2,804,901 | 2,912,456 | 2,728,290 |
| Granted | 192,563 | 92,729 | 185,333 |
| Cancelled | (3,267) | (200,284) | (1,167) |
| Balance at end of year | 2,994,197 | 2,804,901 | 2,912,456 |
| Vested during the year | 21,074 | 408,800 | 66,299 |
| Compensation expense recorded | $6,713,155 | $6,930,381 | $17,365,401 |
| Weighted average fair value of restricted stock granted during the year | $17,386,949 | $7,023,942 | $21,768,084 |
weighted average fair value of restricted stock granted during the year $ 17386949 $ 7023942 $ 21768084 the fair value of restricted stock that vested during the years ended december 31 , 2013 , 2012 and 2011 was $ 1.6 million , $ 22.4 million and $ 4.3 million , respectively . as of december 31 , 2013 , there was $ 17.8 million of total unrecognized compensation cost related to unvested restricted stock , which is expected to be recognized over a weighted average period of approximately 2.7 years . for the years ended december 31 , 2013 , 2012 and 2011 , approximately $ 4.5 million , $ 4.1 million and $ 3.4 million , respectively , was capitalized to assets associated with compensation expense related to our long-term compensation plans , restricted stock and stock options . we granted ltip units , which include bonus , time-based and performance based awards , with a fair value of $ 27.1 million , zero and $ 8.5 million as of 2013 , 2012 and 2011 , respectively . the grant date fair value of the ltip unit awards was calculated in accordance with asc 718 . a third party consultant determined the fair value of the ltip units to have a discount from sl green's common stock price . the discount was calculated by considering the inherent uncertainty that the ltip units will reach parity with other common partnership units and the illiquidity due to transfer restrictions . as of december 31 , 2013 , there was $ 5.0 million of total unrecognized compensation expense related to the time-based and performance based awards , which is expected to be recognized over a weighted average period of approximately 1.5 years . during the years ended december 31 , 2013 , 2012 and 2011 , we recorded compensation expense related to bonus , time-based and performance based awards of approximately $ 27.3 million , $ 12.6 million and $ 8.5 million , respectively . 2010 notional unit long-term compensation plan in december 2009 , the compensation committee of the company's board of directors approved the general terms of the sl green realty corp . 2010 notional unit long-term compensation program , or the 2010 long-term compensation plan . the 2010 long-term compensation plan is a long-term incentive compensation plan pursuant to which award recipients could earn , in the aggregate , from approximately $ 15.0 million up to approximately $ 75.0 million of ltip units in the operating partnership based on our stock price appreciation over three years beginning on december 1 , 2009 ; provided that , if maximum performance had been achieved , approximately $ 25.0 million of awards could be earned at any time after the beginning of the second year and an additional approximately $ 25.0 million of awards could be earned at any time after the beginning of the third year . in order to achieve maximum performance under the 2010 long-term compensation plan , our aggregate stock price appreciation during the performance period had to equal or exceed 50% ( 50 % ) . the compensation committee determined that maximum performance had been achieved at or shortly after the beginning of each of the second and third years of the performance period and for the full performance period and , accordingly , 366815 ltip units , 385583 ltip units and 327416 ltip units were earned under the 2010 long-term compensation plan in december 2010 , 2011 and 2012 , respectively . substantially in accordance with the original terms of the program , 50% ( 50 % ) of these ltip units vested on december 17 , 2012 ( accelerated from the original january 1 , 2013 vesting date ) , 25% ( 25 % ) of these ltip units vested on december 11 , 2013 ( accelerated from the original january 1 , 2014 vesting date ) and the remainder is scheduled to vest on january 1 , 2015 based on .
| string | null | bonus_time_performance_2013 = 27.3
bonus_time_performance_2012 = 12.6
bonus_time_performance_2011 = 8.5
total_bonus_time_performance = bonus_time_performance_2013 + bonus_time_performance_2012 + bonus_time_performance_2011
answer = total_bonus_time_performance / 3 |
what portion of the long-term debt is reported as current liabilities as of december 312007? | 6.4000000954 | CodeFinQA | our existing cash flow hedges are highly effective and there is no current impact on earnings due to hedge ineffectiveness . it is our policy to execute such instruments with credit-worthy banks and not to enter into derivative financial instruments for speculative purposes . contractual obligations fis 2019s long-term contractual obligations generally include its long-term debt and operating lease payments on certain of its property and equipment . the following table summarizes fis 2019s significant contractual obligations and commitments as of december 31 , 2007 ( in thousands ) : .
| | 2008 | 2009 | 2010 | 2011 | 2012 | Thereafter | Total |
| :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- |
| Long-term debt | $272,014 | $142,850 | $226,000 | $173,500 | $1,945,033 | $1,516,000 | $4,275,397 |
| Interest | 254,716 | 238,554 | 227,320 | 218,416 | 109,226 | 101,987 | 1,150,219 |
| Operating leases | 83,382 | 63,060 | 35,269 | 21,598 | 14,860 | 30,869 | 249,038 |
| Investment commitments | 47,514 | — | — | — | — | — | 47,514 |
| Purchase commitments | 33,264 | — | — | — | — | — | 33,264 |
| Data processing and maintenance commitments | 198,290 | 171,411 | 107,105 | 63,010 | 61,035 | 287,479 | 888,330 |
| Total | $889,180 | $615,875 | $595,694 | $476,524 | $2,130,154 | $1,936,335 | $6,643,762 |
off-balance sheet arrangements fis does not have any material off-balance sheet arrangements other than operating leases . escrow arrangements in conducting our title agency , closing and 1031 exchange services operations , we routinely hold customers 2019 assets in escrow , pending completion of real estate transactions . certain of these amounts are maintained in segregated bank accounts and have not been included in the accompanying consolidated balance sheets . we have a contingent liability relating to proper disposition of these balances , which amounted to $ 1926.8 million at december 31 , 2007 . as a result of holding these customers 2019 assets in escrow , we have ongoing programs for realizing economic benefits during the year through favorable borrowing and vendor arrangements with various banks . there were no loans outstanding as of december 31 , 2007 and these balances were invested in short term , high grade investments that minimize the risk to principal . recent accounting pronouncements in december 2007 , the fasb issued sfas no . 141 ( revised 2007 ) , business combinations ( 201csfas 141 ( r ) 201d ) , requiring an acquirer in a business combination to recognize the assets acquired , the liabilities assumed , and any noncontrolling interest in the acquiree at their fair values at the acquisition date , with limited exceptions . the costs of the acquisition and any related restructuring costs will be recognized separately . assets and liabilities arising from contingencies in a business combination are to be recognized at their fair value at the acquisition date and adjusted prospectively as new information becomes available . when the fair value of assets acquired exceeds the fair value of consideration transferred plus any noncontrolling interest in the acquiree , the excess will be recognized as a gain . under sfas 141 ( r ) , all business combinations will be accounted for by applying the acquisition method , including combinations among mutual entities and combinations by contract alone . sfas 141 ( r ) applies prospectively to business combinations for which the acquisition date is on or after the first annual reporting period beginning on or after december 15 , 2008 , is effective for periods beginning on or after december 15 , 2008 , and will apply to business combinations occurring after the effective date . management is currently evaluating the impact of this statement on our statements of financial position and operations . in december 2007 , the fasb issued sfas no . 160 , noncontrolling interests in consolidated financial statements 2014 an amendment of arb no . 51 ( 201csfas 160 201d ) , requiring noncontrolling interests ( sometimes called minority interests ) to be presented as a component of equity on the balance sheet . sfas 160 also requires that the amount of net income attributable to the parent and to the noncontrolling interests be clearly identified and presented on the face of the consolidated statement of income . this statement eliminates the need to apply purchase .
| string | null | current_liabilities_percent = 272014 / 4275397
answer = current_liabilities_percent * 100 |
what is the percentage change in rent expense for operating leases from 2001 to 2002? | 14.3000001907 | CodeFinQA | echostar communications corporation notes to consolidated financial statements - continued closing price of the class a common stock on the last business day of each calendar quarter in which such shares of class a common stock are deemed sold to an employee under the espp . the espp shall terminate upon the first to occur of ( i ) october 1 , 2007 or ( ii ) the date on which the espp is terminated by the board of directors . during 2000 , 2001 and 2002 employees purchased approximately 58000 ; 80000 and 108000 shares of class a common stock through the espp , respectively . 401 ( k ) employee savings plan echostar sponsors a 401 ( k ) employee savings plan ( the 201c401 ( k ) plan 201d ) for eligible employees . voluntary employee contributions to the 401 ( k ) plan may be matched 50% ( 50 % ) by echostar , subject to a maximum annual contribution by echostar of $ 1000 per employee . matching 401 ( k ) contributions totaled approximately $ 1.6 million , $ 2.1 million and $ 2.4 million during the years ended december 31 , 2000 , 2001 and 2002 , respectively . echostar also may make an annual discretionary contribution to the plan with approval by echostar 2019s board of directors , subject to the maximum deductible limit provided by the internal revenue code of 1986 , as amended . these contributions may be made in cash or in echostar stock . forfeitures of unvested participant balances which are retained by the 401 ( k ) plan may be used to fund matching and discretionary contributions . expense recognized relating to discretionary contributions was approximately $ 7 million , $ 225 thousand and $ 17 million during the years ended december 31 , 2000 , 2001 and 2002 , respectively . 9 . commitments and contingencies leases future minimum lease payments under noncancelable operating leases as of december 31 , 2002 , are as follows ( in thousands ) : year ending december 31 .
| 2003 | $17,274 |
| :--- | :--- |
| 2004 | 14,424 |
| 2005 | 11,285 |
| 2006 | 7,698 |
| 2007 | 3,668 |
| Thereafter | 1,650 |
| Total minimum lease payments | 55,999 |
total rent expense for operating leases approximated $ 9 million , $ 14 million and $ 16 million in 2000 , 2001 and 2002 , respectively . purchase commitments as of december 31 , 2002 , echostar 2019s purchase commitments totaled approximately $ 359 million . the majority of these commitments relate to echostar receiver systems and related components . all of the purchases related to these commitments are expected to be made during 2003 . echostar expects to finance these purchases from existing unrestricted cash balances and future cash flows generated from operations . patents and intellectual property many entities , including some of echostar 2019s competitors , now have and may in the future obtain patents and other intellectual property rights that cover or affect products or services directly or indirectly related to those that echostar offers . echostar may not be aware of all patents and other intellectual property rights that its products may potentially infringe . damages in patent infringement cases can include a tripling of actual damages in certain cases . further , echostar cannot estimate the extent to which it may be required in the future to obtain licenses with respect to .
| string | null | rent_2002 = 16
rent_2001 = 14
percent_change = (rent_2002 - rent_2001) / rent_2001
answer = percent_change * 100 |
what is the annual interest expense related to the 7.50% ( 7.50 % ) senior notes due 2012 , in millions? | 16.8999996185 | CodeFinQA | proceeds from the sale of equity securities . from time to time , we raise funds through public offerings of our equity securities . in addition , we receive proceeds from sales of our equity securities pursuant to our stock option and stock purchase plans . for the year ended december 31 , 2004 , we received approximately $ 40.6 million in proceeds from sales of shares of our class a common stock and the common stock of atc mexico pursuant to our stock option and stock purchase plans . financing activities during the year ended december 31 , 2004 , we took several actions to increase our financial flexibility and reduce our interest costs . new credit facility . in may 2004 , we refinanced our previous credit facility with a new $ 1.1 billion senior secured credit facility . at closing , we received $ 685.5 million of net proceeds from the borrowings under the new facility , after deducting related expenses and fees , approximately $ 670.0 million of which we used to repay principal and interest under the previous credit facility . we used the remaining net proceeds of $ 15.5 million for general corporate purposes , including the repurchase of other outstanding debt securities . the new credit facility consists of the following : 2022 $ 400.0 million in undrawn revolving loan commitments , against which approximately $ 19.3 million of undrawn letters of credit were outstanding at december 31 , 2004 , maturing on february 28 , 2011 ; 2022 a $ 300.0 million term loan a , which is fully drawn , maturing on february 28 , 2011 ; and 2022 a $ 398.0 million term loan b , which is fully drawn , maturing on august 31 , 2011 . the new credit facility extends the previous credit facility maturity dates from 2007 to 2011 for a majority of the borrowings outstanding , subject to earlier maturity upon the occurrence of certain events described below , and allows us to use credit facility borrowings and internally generated funds to repurchase other indebtedness without additional lender approval . the new credit facility is guaranteed by us and is secured by a pledge of substantially all of our assets . the maturity date for term loan a and any outstanding revolving loans will be accelerated to august 15 , 2008 , and the maturity date for term loan b will be accelerated to october 31 , 2008 , if ( 1 ) on or prior to august 1 , 2008 , our 93 20448% ( 20448 % ) senior notes have not been ( a ) refinanced with parent company indebtedness having a maturity date of february 28 , 2012 or later or with loans under the new credit facility , or ( b ) repaid , prepaid , redeemed , repurchased or otherwise retired , and ( 2 ) our consolidated leverage ratio ( total parent company debt to annualized operating cash flow ) at june 30 , 2008 is greater than 4.50 to 1.00 . if this were to occur , the payments due in 2008 for term loan a and term loan b would be $ 225.0 million and $ 386.0 million , respectively . note offerings . during 2004 , we raised approximately $ 1.1 billion in net proceeds from the sale of debt securities through institutional private placements as follows ( in millions ) : debt security date of offering principal amount approximate net proceeds .
| Debt Security | Date of Offering | Principal Amount | Approximate Net Proceeds |
| :--- | :--- | :--- | :--- |
| 7.50% Senior Notes due 2012 | February 2004 | $225.0 | $221.7 |
| 3.00% Convertible Notes due August 15, 2012 | August 2004 | 345.0 | 335.9 |
| 7.125% Senior Notes due 2012 | October 2004 | 300.0 | 292.8 |
| 7.125% Senior Notes due 2012 | December 2004 | 200.0 | 199.8 |
| Total | | $1,070.0 | $1,050.2 |
2022 7.50% ( 7.50 % ) senior notes offering . in february 2004 , we sold $ 225.0 million principal amount of our 7.50% ( 7.50 % ) senior notes due 2012 through an institutional private placement . the 7.50% ( 7.50 % ) senior notes mature on may 1 , 2012 , and interest is payable semiannually in arrears on may 1 and november 1 of each year. .
| string | null | interest_expense = 225.0 * 0.075
answer = interest_expense |
what percent of net derivative receivables were collateralized by other than cash in 2014?\\n | 24.7999992371 | CodeFinQA | jpmorgan chase & co./2014 annual report 125 lending-related commitments the firm uses lending-related financial instruments , such as commitments ( including revolving credit facilities ) and guarantees , to meet the financing needs of its customers . the contractual amounts of these financial instruments represent the maximum possible credit risk should the counterparties draw down on these commitments or the firm fulfills its obligations under these guarantees , and the counterparties subsequently fail to perform according to the terms of these contracts . in the firm 2019s view , the total contractual amount of these wholesale lending-related commitments is not representative of the firm 2019s actual future credit exposure or funding requirements . in determining the amount of credit risk exposure the firm has to wholesale lending-related commitments , which is used as the basis for allocating credit risk capital to these commitments , the firm has established a 201cloan-equivalent 201d amount for each commitment ; this amount represents the portion of the unused commitment or other contingent exposure that is expected , based on average portfolio historical experience , to become drawn upon in an event of a default by an obligor . the loan-equivalent amount of the firm 2019s lending- related commitments was $ 229.6 billion and $ 218.9 billion as of december 31 , 2014 and 2013 , respectively . clearing services the firm provides clearing services for clients entering into securities and derivative transactions . through the provision of these services the firm is exposed to the risk of non-performance by its clients and may be required to share in losses incurred by central counterparties ( 201cccps 201d ) . where possible , the firm seeks to mitigate its credit risk to its clients through the collection of adequate margin at inception and throughout the life of the transactions and can also cease provision of clearing services if clients do not adhere to their obligations under the clearing agreement . for further discussion of clearing services , see note 29 . derivative contracts in the normal course of business , the firm uses derivative instruments predominantly for market-making activities . derivatives enable customers to manage exposures to fluctuations in interest rates , currencies and other markets . the firm also uses derivative instruments to manage its own credit exposure . the nature of the counterparty and the settlement mechanism of the derivative affect the credit risk to which the firm is exposed . for otc derivatives the firm is exposed to the credit risk of the derivative counterparty . for exchange-traded derivatives ( 201cetd 201d ) such as futures and options , and 201ccleared 201d over-the-counter ( 201cotc-cleared 201d ) derivatives , the firm is generally exposed to the credit risk of the relevant ccp . where possible , the firm seeks to mitigate its credit risk exposures arising from derivative transactions through the use of legally enforceable master netting arrangements and collateral agreements . for further discussion of derivative contracts , counterparties and settlement types , see note 6 . the following table summarizes the net derivative receivables for the periods presented . derivative receivables .
| December 31, (in millions) | 2014 | 2013 |
| :--- | :--- | :--- |
| Interest rate | $33,725 | $25,782 |
| Credit derivatives | 1,838 | 1,516 |
| Foreign exchange | 21,253 | 16,790 |
| Equity | 8,177 | 12,227 |
| Commodity | 13,982 | 9,444 |
| Total, net of cash collateral | 78,975 | 65,759 |
| Liquid securities and other cash collateral held against derivative receivables | (19,604) | (14,435) |
| Total, net of all collateral | $59,371 | $51,324 |
derivative receivables reported on the consolidated balance sheets were $ 79.0 billion and $ 65.8 billion at december 31 , 2014 and 2013 , respectively . these amounts represent the fair value of the derivative contracts , after giving effect to legally enforceable master netting agreements and cash collateral held by the firm . however , in management 2019s view , the appropriate measure of current credit risk should also take into consideration additional liquid securities ( primarily u.s . government and agency securities and other g7 government bonds ) and other cash collateral held by the firm aggregating $ 19.6 billion and $ 14.4 billion at december 31 , 2014 and 2013 , respectively , that may be used as security when the fair value of the client 2019s exposure is in the firm 2019s favor . in addition to the collateral described in the preceding paragraph , the firm also holds additional collateral ( primarily : cash ; g7 government securities ; other liquid government-agency and guaranteed securities ; and corporate debt and equity securities ) delivered by clients at the initiation of transactions , as well as collateral related to contracts that have a non-daily call frequency and collateral that the firm has agreed to return but has not yet settled as of the reporting date . although this collateral does not reduce the balances and is not included in the table above , it is available as security against potential exposure that could arise should the fair value of the client 2019s derivative transactions move in the firm 2019s favor . as of december 31 , 2014 and 2013 , the firm held $ 48.6 billion and $ 50.8 billion , respectively , of this additional collateral . the prior period amount has been revised to conform with the current period presentation . the derivative receivables fair value , net of all collateral , also does not include other credit enhancements , such as letters of credit . for additional information on the firm 2019s use of collateral agreements , see note 6. .
| string | null | collateral_other_than_cash = 19604
collateral_total = 78975
percent_other_than_cash = collateral_other_than_cash / collateral_total
answer = percent_other_than_cash * 100 |
what was the change in millions of weighted average common shares outstanding for diluted computations from 2015 to 2016? | 11.6000003815 | CodeFinQA | benefits as an increase to earnings of $ 152 million ( $ 0.50 per share ) during the year ended december 31 , 2016 . additionally , we recognized additional income tax benefits as an increase to operating cash flows of $ 152 million during the year ended december 31 , 2016 . the new accounting standard did not impact any periods prior to january 1 , 2016 , as we applied the changes in the asu on a prospective basis . in september 2015 , the fasb issued asu no . 2015-16 , business combinations ( topic 805 ) , which simplifies the accounting for adjustments made to preliminary amounts recognized in a business combination by eliminating the requirement to retrospectively account for those adjustments . instead , adjustments will be recognized in the period in which the adjustments are determined , including the effect on earnings of any amounts that would have been recorded in previous periods if the accounting had been completed at the acquisition date . we adopted the asu on january 1 , 2016 and are prospectively applying the asu to business combination adjustments identified after the date of adoption . in november 2015 , the fasb issued asu no . 2015-17 , income taxes ( topic 740 ) , which simplifies the presentation of deferred income taxes and requires that deferred tax assets and liabilities , as well as any related valuation allowance , be classified as noncurrent in our consolidated balance sheets . we applied the provisions of the asu retrospectively and reclassified approximately $ 1.6 billion from current to noncurrent assets and approximately $ 140 million from current to noncurrent liabilities in our consolidated balance sheet as of december 31 , 2015 . note 2 2013 earnings per share the weighted average number of shares outstanding used to compute earnings per common share were as follows ( in millions ) : .
| | 2016 | 2015 | 2014 |
| :--- | :--- | :--- | :--- |
| Weighted average common shares outstanding for basic computations | 299.3 | 310.3 | 316.8 |
| Weighted average dilutive effect of equity awards | 3.8 | 4.4 | 5.6 |
| Weighted average common shares outstanding for dilutedcomputations | 303.1 | 314.7 | 322.4 |
we compute basic and diluted earnings per common share by dividing net earnings by the respective weighted average number of common shares outstanding for the periods presented . our calculation of diluted earnings per common share also includes the dilutive effects for the assumed vesting of outstanding restricted stock units and exercise of outstanding stock options based on the treasury stock method . there were no anti-dilutive equity awards for the years ended december 31 , 2016 , 2015 and 2014 . note 3 2013 acquisitions and divestitures acquisitions acquisition of sikorsky aircraft corporation on november 6 , 2015 , we completed the acquisition of sikorsky aircraft corporation and certain affiliated companies ( collectively 201csikorsky 201d ) from united technologies corporation ( utc ) and certain of utc 2019s subsidiaries . the purchase price of the acquisition was $ 9.0 billion , net of cash acquired . as a result of the acquisition , sikorsky became a wholly- owned subsidiary of ours . sikorsky is a global company primarily engaged in the research , design , development , manufacture and support of military and commercial helicopters . sikorsky 2019s products include military helicopters such as the black hawk , seahawk , ch-53k , h-92 ; and commercial helicopters such as the s-76 and s-92 . the acquisition enables us to extend our core business into the military and commercial rotary wing markets , allowing us to strengthen our position in the aerospace and defense industry . further , this acquisition will expand our presence in commercial and international markets . sikorsky has been aligned under our rms business segment . to fund the $ 9.0 billion acquisition price , we utilized $ 6.0 billion of proceeds borrowed under a temporary 364-day revolving credit facility ( the 364-day facility ) , $ 2.0 billion of cash on hand and $ 1.0 billion from the issuance of commercial paper . in the fourth quarter of 2015 , we repaid all outstanding borrowings under the 364-day facility with the proceeds from the issuance of $ 7.0 billion of fixed interest-rate long-term notes in a public offering ( the november 2015 notes ) . in the fourth quarter of 2015 , we also repaid the $ 1.0 billion in commercial paper borrowings ( see 201cnote 10 2013 debt 201d ) . .
| string | null | shares_2016 = 303.1
shares_2015 = 314.7
increase = shares_2016 - shares_2015
answer = increase |
what were total segment revenues for 2012 and 2011 in millions? | 30346 | CodeFinQA | key operating and financial activities significant operating and financial activities during 2012 include : 2022 net proved reserve additions for the e&p and osm segments combined of 389 mmboe , for a 226 percent reserve replacement 2022 increased proved liquid hydrocarbon and synthetic crude oil reserves by 316 mmbbls , for a reserve replacement of 268 percent for these commodities 2022 recorded more than 95 percent average operational availability for operated e&p assets 2022 increased e&p net sales volumes , excluding libya , by 8 percent 2022 eagle ford shale average net sales volumes of 65 mboed for december 2012 , a fourfold increase over december 2011 2022 bakken shale average net sales volumes of 29 mboed , a 71 percent increase over last year 2022 resumed sales from libya and reached pre-conflict production levels 2022 international liquid hydrocarbon sales volumes , for which average realizations have exceeded wti , were 62 percent of net e&p liquid hydrocarbon sales 2022 closed $ 1 billion of acquisitions in the core of the eagle ford shale 2022 assumed operatorship of the vilje field located offshore norway 2022 signed agreements for new exploration positions in e.g. , gabon , kenya and ethiopia 2022 issued $ 1 billion of 3-year senior notes at 0.9 percent interest and $ 1 billion of 10-year senior notes at 2.8 percent interest some significant 2013 activities through february 22 , 2013 include : 2022 closed sale of our alaska assets in january 2013 2022 closed sale of our interest in the neptune gas plant in february 2013 consolidated results of operations : 2012 compared to 2011 consolidated income before income taxes was 38 percent higher in 2012 than consolidated income from continuing operations before income taxes were in 2011 , largely due to higher liquid hydrocarbon sales volumes in our e&p segment , partially offset by lower earnings from our osm and ig segments . the 7 percent decrease in income from continuing operations included lower earnings in the u.k . and e.g. , partially offset by higher earnings in libya . also , in 2011 we were not in an excess foreign tax credit position for the entire year as we were in 2012 . the effective income tax rate for continuing operations was 74 percent in 2012 compared to 61 percent in 2011 . revenues are summarized in the following table: .
| (In millions) | 2012 | 2011 |
| :--- | :--- | :--- |
| E&P | $14,084 | $13,029 |
| OSM | 1,552 | 1,588 |
| IG | — | 93 |
| Segment revenues | 15,636 | 14,710 |
| Elimination of intersegment revenues | — | (47) |
| Unrealized gain on crude oil derivative instruments | 52 | — |
| Total revenues | $15,688 | $14,663 |
e&p segment revenues increased $ 1055 million from 2011 to 2012 , primarily due to higher average liquid hydrocarbon sales volumes . e&p segment revenues included a net realized gain on crude oil derivative instruments of $ 15 million in 2012 while the impact of derivatives was not significant in 2011 . see item 8 . financial statements and supplementary data 2013 note 16 to the consolidated financial statement for more information about our crude oil derivative instruments . included in our e&p segment are supply optimization activities which include the purchase of commodities from third parties for resale . see the cost of revenues discussion as revenues from supply optimization approximate the related costs . supply optimization serves to aggregate volumes in order to satisfy transportation commitments and to achieve flexibility within product .
| string | null | total_revenues = 15636 + 14710
answer = total_revenues |
what is the mathematical range in 2017 for 10% ( 10 % ) increase and 10% ( 10 % ) decrease in interest rate? | 40.7999992371 | CodeFinQA | item 7a . quantitative and qualitative disclosures about market risk ( amounts in millions ) in the normal course of business , we are exposed to market risks related to interest rates , foreign currency rates and certain balance sheet items . from time to time , we use derivative instruments , pursuant to established guidelines and policies , to manage some portion of these risks . derivative instruments utilized in our hedging activities are viewed as risk management tools and are not used for trading or speculative purposes . interest rates our exposure to market risk for changes in interest rates relates primarily to the fair market value and cash flows of our debt obligations . the majority of our debt ( approximately 94% ( 94 % ) and 93% ( 93 % ) as of december 31 , 2017 and 2016 , respectively ) bears interest at fixed rates . we do have debt with variable interest rates , but a 10% ( 10 % ) increase or decrease in interest rates would not be material to our interest expense or cash flows . the fair market value of our debt is sensitive to changes in interest rates , and the impact of a 10% ( 10 % ) change in interest rates is summarized below . increase/ ( decrease ) in fair market value as of december 31 , 10% ( 10 % ) increase in interest rates 10% ( 10 % ) decrease in interest rates .
| | Increase/(Decrease)in Fair Market Value |
| :--- | :--- |
| As of December 31, | 10% Increasein Interest Rates | 10% Decreasein Interest Rates |
| 2017 | $(20.2) | $20.6 |
| 2016 | (26.3) | 26.9 |
we have used interest rate swaps for risk management purposes to manage our exposure to changes in interest rates . we did not have any interest rate swaps outstanding as of december 31 , 2017 . we had $ 791.0 of cash , cash equivalents and marketable securities as of december 31 , 2017 that we generally invest in conservative , short-term bank deposits or securities . the interest income generated from these investments is subject to both domestic and foreign interest rate movements . during 2017 and 2016 , we had interest income of $ 19.4 and $ 20.1 , respectively . based on our 2017 results , a 100 basis-point increase or decrease in interest rates would affect our interest income by approximately $ 7.9 , assuming that all cash , cash equivalents and marketable securities are impacted in the same manner and balances remain constant from year-end 2017 levels . foreign currency rates we are subject to translation and transaction risks related to changes in foreign currency exchange rates . since we report revenues and expenses in u.s . dollars , changes in exchange rates may either positively or negatively affect our consolidated revenues and expenses ( as expressed in u.s . dollars ) from foreign operations . the foreign currencies that most impacted our results during 2017 included the british pound sterling and , to a lesser extent , brazilian real and south african rand . based on 2017 exchange rates and operating results , if the u.s . dollar were to strengthen or weaken by 10% ( 10 % ) , we currently estimate operating income would decrease or increase approximately 4% ( 4 % ) , assuming that all currencies are impacted in the same manner and our international revenue and expenses remain constant at 2017 levels . the functional currency of our foreign operations is generally their respective local currency . assets and liabilities are translated at the exchange rates in effect at the balance sheet date , and revenues and expenses are translated at the average exchange rates during the period presented . the resulting translation adjustments are recorded as a component of accumulated other comprehensive loss , net of tax , in the stockholders 2019 equity section of our consolidated balance sheets . our foreign subsidiaries generally collect revenues and pay expenses in their functional currency , mitigating transaction risk . however , certain subsidiaries may enter into transactions in currencies other than their functional currency . assets and liabilities denominated in currencies other than the functional currency are susceptible to movements in foreign currency until final settlement . currency transaction gains or losses primarily arising from transactions in currencies other than the functional currency are included in office and general expenses . we regularly review our foreign exchange exposures that may have a material impact on our business and from time to time use foreign currency forward exchange contracts or other derivative financial instruments to hedge the effects of potential adverse fluctuations in foreign currency exchange rates arising from these exposures . we do not enter into foreign exchange contracts or other derivatives for speculative purposes. .
| string | null | interest_rate_2017 = 20.2 + 20.6
answer = interest_rate_2017 |
by how much did the long-term debt and redeemable preferred stock at redemption value portion of the capital structure increase since 2016? | 6 | CodeFinQA | allows us to repurchase shares at times when we may otherwise be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods . subject to applicable regulations , we may elect to amend or cancel this repurchase program or the share repurchase parameters at our discretion . as of december 31 , 2018 , we have repurchased an aggregate of 4510000 shares of common stock under this program . credit facilities and short-term debt we have an unsecured revolving credit facility of $ 2.25 billion that expires in june 2023 . in march 2018 , awcc and its lenders amended and restated the credit agreement with respect to awcc 2019s revolving credit facility to increase the maximum commitments under the facility from $ 1.75 billion to $ 2.25 billion , and to extend the expiration date of the facility from june 2020 to march 2023 . all other terms , conditions and covenants with respect to the existing facility remained unchanged . subject to satisfying certain conditions , the credit agreement also permits awcc to increase the maximum commitment under the facility by up to an aggregate of $ 500 million , and to request extensions of its expiration date for up to two , one-year periods . interest rates on advances under the facility are based on a credit spread to the libor rate or base rate in accordance with moody investors service 2019s and standard & poor 2019s financial services 2019 then applicable credit rating on awcc 2019s senior unsecured , non-credit enhanced debt . the facility is used principally to support awcc 2019s commercial paper program and to provide up to $ 150 million in letters of credit . indebtedness under the facility is considered 201cdebt 201d for purposes of a support agreement between the company and awcc , which serves as a functional equivalent of a guarantee by the company of awcc 2019s payment obligations under the credit facility . awcc also has an outstanding commercial paper program that is backed by the revolving credit facility , the maximum aggregate outstanding amount of which was increased in march 2018 , from $ 1.60 billion to $ 2.10 billion . the following table provides the aggregate credit facility commitments , letter of credit sub-limit under the revolving credit facility and commercial paper limit , as well as the available capacity for each as of december 31 , 2018 and 2017 : credit facility commitment available credit facility capacity letter of credit sublimit available letter of credit capacity commercial paper limit available commercial capacity ( in millions ) december 31 , 2018 . . . . . . . . $ 2262 $ 2177 $ 150 $ 69 $ 2100 $ 1146 december 31 , 2017 . . . . . . . . 1762 1673 150 66 1600 695 the weighted average interest rate on awcc short-term borrowings for the years ended december 31 , 2018 and 2017 was approximately 2.28% ( 2.28 % ) and 1.24% ( 1.24 % ) , respectively . capital structure the following table provides the percentage of our capitalization represented by the components of our capital structure as of december 31: .
| | 2018 | 2017 | 2016 |
| :--- | :--- | :--- | :--- |
| Total common shareholders' equity | 40.4% | 41.0% | 42.1% |
| Long-term debt and redeemable preferred stock at redemption value | 52.4% | 49.6% | 46.4% |
| Short-term debt and current portion of long-term debt | 7.2% | 9.4% | 11.5% |
| Total | 100% | 100% | 100% |
.
| string | null | increase = 0.524 - 0.46399999999999997
answer = increase * 100 |
what is the total amount paid in cash related to restructuring initiatives for the last three years? | 284 | CodeFinQA | reduced administrative expense . in connection with this project , we eliminated 749 positions . we incurred $ 54.7 million of net expenses , most of which was cash . we recorded $ 0.4 million of restructuring charges relating to this action in fiscal 2018 , restructuring charges were reduced by $ 0.4 million in fiscal 2017 , and we incurred $ 54.7 million of restructuring charges in fiscal 2016 . this action was completed in fiscal 2018 . in fiscal 2015 , we announced project century ( century ) which initially involved a review of our north american manufacturing and distribution network to streamline operations and identify potential capacity reductions . in fiscal 2016 , we broadened the scope of century to identify opportunities to streamline our supply chain outside of north america . as part of century , in the second quarter of fiscal 2016 , we approved a restructuring plan to close manufacturing facilities in our europe & australia segment supply chain located in berwick , united kingdom and east tamaki , new zealand . these actions affected 287 positions and we incurred $ 31.8 million of net expenses related to these actions , of which $ 12 million was cash . we recorded $ 1.8 million of restructuring charges relating to these actions in fiscal 2017 and $ 30.0 million in fiscal 2016 . these actions were completed in fiscal 2017 . as part of century , in the first quarter of fiscal 2016 , we approved a restructuring plan to close our west chicago , illinois cereal and dry dinner manufacturing plant in our north america retail segment supply chain . this action affected 484 positions , and we incurred $ 109.3 million of net expenses relating to this action , of which $ 21 million was cash . we recorded $ 6.9 million of restructuring charges relating to this action in fiscal 2018 , $ 23.2 million in fiscal 2017 and $ 79.2 million in fiscal 2016 . this action was completed in fiscal 2018 . as part of century , in the first quarter of fiscal 2016 , we approved a restructuring plan to close our joplin , missouri snacks plant in our north america retail segment supply chain . this action affected 125 positions , and we incurred $ 8.0 million of net expenses relating to this action , of which less than $ 1 million was cash . we recorded $ 1.4 million of restructuring charges relating to this action in fiscal 2018 , $ 0.3 million in fiscal 2017 , and $ 6.3 million in fiscal 2016 . this action was completed in fiscal 2018 . we paid cash related to restructuring initiatives of $ 53.6 million in fiscal 2018 , $ 107.8 million in fiscal 2017 , and $ 122.6 million in fiscal 2016 . in addition to restructuring charges , we expect to incur approximately $ 130 million of project-related costs , which will be recorded in cost of sales , all of which will be cash . we recorded project-related costs in cost of sales of $ 11.3 million in fiscal 2018 , $ 43.9 million in fiscal 2017 , and $ 57.5 million in fiscal 2016 . we paid cash for project-related costs of $ 10.9 million in fiscal 2018 , $ 46.9 million in fiscal 2017 , and $ 54.5 million in fiscal 2016 . we expect these activities to be completed in fiscal 2019 . restructuring charges and project-related costs are classified in our consolidated statements of earnings as follows: .
| | Fiscal |
| :--- | :--- |
| In Millions | 2018 | 2017 | 2016 |
| Cost of sales | $14.0 | $41.5 | $78.4 |
| Restructuring, impairment, and other exit costs | 68.7 | 182.6 | 151.4 |
| Total restructuring charges | 82.7 | 224.1 | 229.8 |
| Project-related costs classified in cost ofsales | $11.3 | $43.9 | $57.5 |
.
| string | null | restructuring_charges_2016 = 122.6
restructuring_charges_2017 = 107.8
restructuring_charges_2018 = 53.6
total_restructuring_charges = restructuring_charges_2016 + restructuring_charges_2017 + restructuring_charges_2018
answer = total_restructuring_charges |
what is the decrease in the alumina production during 2014 and 2015 , in kmt? | 886 | CodeFinQA | additionally , the latin american soft alloy extrusions business previously included in corporate was moved into the new transportation and construction solutions segment . the remaining engineered products and solutions segment consists of the alcoa fastening systems and rings ( renamed to include portions of the firth rixson business acquired in november 2014 ) , alcoa power and propulsion ( includes the tital business acquired in march 2015 ) , alcoa forgings and extrusions ( includes the other portions of firth rixson ) , and alcoa titanium and engineered products ( a new business unit that consists solely of the rti international metals business acquired in july 2015 ) business units . segment information for all prior periods presented was updated to reflect the new segment structure . atoi for all reportable segments totaled $ 1906 in 2015 , $ 1968 in 2014 , and $ 1267 in 2013 . the following information provides shipments , sales , and atoi data for each reportable segment , as well as certain production , realized price , and average cost data , for each of the three years in the period ended december 31 , 2015 . see note q to the consolidated financial statements in part ii item 8 of this form 10-k for additional information . alumina .
| | 2015 | 2014 | 2013 |
| :--- | :--- | :--- | :--- |
| Alumina production (kmt) | 15,720 | 16,606 | 16,618 |
| Third-party alumina shipments (kmt) | 10,755 | 10,652 | 9,966 |
| Alcoa’s average realized price per metric ton of alumina | $317 | $324 | $328 |
| Alcoa’s average cost per metric ton of alumina* | $237 | $282 | $295 |
| Third-party sales | $3,455 | $3,509 | $3,326 |
| Intersegment sales | 1,687 | 1,941 | 2,235 |
| Total sales | $5,142 | $5,450 | $5,561 |
| ATOI | $746 | $370 | $259 |
* includes all production-related costs , including raw materials consumed ; conversion costs , such as labor , materials , and utilities ; depreciation , depletion , and amortization ; and plant administrative expenses . this segment represents a portion of alcoa 2019s upstream operations and consists of the company 2019s worldwide refining system . alumina mines bauxite , from which alumina is produced and then sold directly to external smelter customers , as well as to the primary metals segment ( see primary metals below ) , or to customers who process it into industrial chemical products . more than half of alumina 2019s production is sold under supply contracts to third parties worldwide , while the remainder is used internally by the primary metals segment . alumina produced by this segment and used internally is transferred to the primary metals segment at prevailing market prices . a portion of this segment 2019s third- party sales are completed through the use of agents , alumina traders , and distributors . generally , the sales of this segment are transacted in u.s . dollars while costs and expenses of this segment are transacted in the local currency of the respective operations , which are the australian dollar , the brazilian real , the u.s . dollar , and the euro . awac is an unincorporated global joint venture between alcoa and alumina limited and consists of a number of affiliated operating entities , which own , or have an interest in , or operate the bauxite mines and alumina refineries within the alumina segment ( except for the poc 0327os de caldas refinery in brazil and a portion of the sa 0303o lul 0301s refinery in brazil ) . alcoa owns 60% ( 60 % ) and alumina limited owns 40% ( 40 % ) of these individual entities , which are consolidated by the company for financial reporting purposes . as such , the results and analysis presented for the alumina segment are inclusive of alumina limited 2019s 40% ( 40 % ) interest . in december 2014 , awac completed the sale of its ownership stake in jamalco , a bauxite mine and alumina refinery joint venture in jamaica , to noble group ltd . jamalco was 55% ( 55 % ) owned by a subsidiary of awac , and , while owned by awac , 55% ( 55 % ) of both the operating results and assets and liabilities of this joint venture were included in the alumina segment . as it relates to awac 2019s previous 55% ( 55 % ) ownership stake , the refinery ( awac 2019s share of the capacity was 779 kmt-per-year ) generated sales ( third-party and intersegment ) of approximately $ 200 in 2013 , and the refinery and mine combined , at the time of divestiture , had approximately 500 employees . see restructuring and other charges in results of operations above. .
| string | null | alumina_production_decrease = 16606 - 15720
answer = alumina_production_decrease |
what is the highest return for the second year of the investment? | 114 | CodeFinQA | stock total return performance the following graph compares our total return to stockholders with the returns of the standard & poor 2019s composite 500 index ( 201cs&p 500 201d ) and the dow jones us select health care providers index ( 201cpeer group 201d ) for the five years ended december 31 , 2017 . the graph assumes an investment of $ 100 in each of our common stock , the s&p 500 , and the peer group on december 31 , 2012 , and that dividends were reinvested when paid. .
| | 12/31/2012 | 12/31/2013 | 12/31/2014 | 12/31/2015 | 12/31/2016 | 12/31/2017 |
| :--- | :--- | :--- | :--- | :--- | :--- | :--- |
| HUM | $100 | $152 | $214 | $267 | $307 | $377 |
| S&P 500 | $100 | $132 | $150 | $153 | $171 | $208 |
| Peer Group | $100 | $137 | $175 | $186 | $188 | $238 |
the stock price performance included in this graph is not necessarily indicative of future stock price performance. .
| string | null | dividends = 214
initial_investment = 100
answer = dividends - initial_investment |
what portion of the total obligations are due by fiscal year 2007? | 59.5800018311 | CodeFinQA | guarantees to third parties . we have , however , issued guar- antees and comfort letters of $ 171 million for the debt and other obligations of unconsolidated affiliates , primarily for cpw . in addition , off-balance sheet arrangements are gener- ally limited to the future payments under noncancelable operating leases , which totaled $ 408 million at may 28 , at may 28 , 2006 , we had invested in four variable interest entities ( vies ) . we are the primary beneficiary ( pb ) of general mills capital , inc . ( gm capital ) , a subsidiary that we consolidate as set forth in note eight to the consoli- dated financial statements appearing on pages 43 and 44 in item eight of this report . we also have an interest in a contract manufacturer at our former facility in geneva , illi- nois . even though we are the pb , we have not consolidated this entity because it is not material to our results of oper- ations , financial condition , or liquidity at may 28 , 2006 . this entity had property and equipment of $ 50 million and long-term debt of $ 50 million at may 28 , 2006 . we are not the pb of the remaining two vies . our maximum exposure to loss from these vies is limited to the $ 150 million minority interest in gm capital , the contract manufactur- er 2019s debt and our $ 6 million of equity investments in the two remaining vies . the following table summarizes our future estimated cash payments under existing contractual obligations , including payments due by period . the majority of the purchase obligations represent commitments for raw mate- rial and packaging to be utilized in the normal course of business and for consumer-directed marketing commit- ments that support our brands . the net fair value of our interest rate and equity swaps was $ 159 million at may 28 , 2006 , based on market values as of that date . future changes in market values will impact the amount of cash ultimately paid or received to settle those instruments in the future . other long-term obligations primarily consist of income taxes , accrued compensation and benefits , and miscella- neous liabilities . we are unable to estimate the timing of the payments for these items . we do not have significant statutory or contractual funding requirements for our defined-benefit retirement and other postretirement benefit plans . further information on these plans , including our expected contributions for fiscal 2007 , is set forth in note thirteen to the consolidated financial statements appearing on pages 47 through 50 in item eight of this report . in millions , payments due by fiscal year total 2007 2008-09 2010-11 2012 and thereafter .
| In Millions,Payments Dueby Fiscal Year | Total | 2007 | 2008-09 | 2010-11 | 2012 andThereafter |
| :--- | :--- | :--- | :--- | :--- | :--- |
| Long-term debt | $4,546 | $2,131 | $971 | $55 | $1,389 |
| Accrued interest | 152 | 152 | – | – | – |
| Operating leases | 408 | 92 | 142 | 89 | 85 |
| Purchaseobligations | 2,351 | 2,068 | 144 | 75 | 64 |
| Total | $7,457 | $4,443 | $1,257 | $219 | $1,538 |
significant accounting estimates for a complete description of our significant accounting policies , please see note one to the consolidated financial statements appearing on pages 35 through 37 in item eight of this report . our significant accounting estimates are those that have meaningful impact on the reporting of our financial condition and results of operations . these poli- cies include our accounting for trade and consumer promotion activities ; goodwill and other intangible asset impairments ; income taxes ; and pension and other postretirement benefits . trade and consumer promotion activities we report sales net of certain coupon and trade promotion costs . the consumer coupon costs recorded as a reduction of sales are based on the estimated redemption value of those coupons , as determined by historical patterns of coupon redemption and consideration of current market conditions such as competitive activity in those product categories . the trade promotion costs include payments to customers to perform merchandising activities on our behalf , such as advertising or in-store displays , discounts to our list prices to lower retail shelf prices , and payments to gain distribution of new products . the cost of these activi- ties is recognized as the related revenue is recorded , which generally precedes the actual cash expenditure . the recog- nition of these costs requires estimation of customer participation and performance levels . these estimates are made based on the quantity of customer sales , the timing and forecasted costs of promotional activities , and other factors . differences between estimated expenses and actual costs are normally insignificant and are recognized as a change in management estimate in a subsequent period . our accrued trade and consumer promotion liability was $ 339 million as of may 28 , 2006 , and $ 283 million as of may 29 , 2005 . our unit volume in the last week of each quarter is consis- tently higher than the average for the preceding weeks of the quarter . in comparison to the average daily shipments in the first 12 weeks of a quarter , the final week of each quarter has approximately two to four days 2019 worth of incre- mental shipments ( based on a five-day week ) , reflecting increased promotional activity at the end of the quarter . this increased activity includes promotions to assure that our customers have sufficient inventory on hand to support major marketing events or increased seasonal demand early in the next quarter , as well as promotions intended to help achieve interim unit volume targets . if , due to quarter-end promotions or other reasons , our customers purchase more product in any reporting period than end-consumer demand will require in future periods , our sales level in future reporting periods could be adversely affected. .
| string | null | year_2007 = 4443
total = 7457
percent_year_2007 = year_2007 / total
answer = percent_year_2007 * 100 |
what is the variation observed in the high and average foreign exchange contracts , in millions of dollars? | 8.5 | CodeFinQA | version 5 2022 9/11/14 2022 last revised by : saul bernstein 68 the est{e lauder companies inc . correlations calculated over the past 250-day period . the high , low and average measured value-at-risk during fiscal 2014 related to our foreign exchange contracts is as follows: .
| | Year Ended June 30, 2014 |
| :--- | :--- |
| (In millions) | High | Low | Average |
| Foreign exchange contracts | $27.4 | $7.4 | $18.9 |
foreign exchange contracts $ 27.4 $ 7.4 $ 18.9 the model estimates were made assuming normal market conditions and a 95 percent confidence level . we used a statistical simulation model that valued our derivative financial instruments against one thousand randomly gen- erated market price paths . our calculated value-at-risk exposure represents an estimate of reasonably possible net losses that would be recognized on our portfolio of derivative financial instruments assuming hypothetical movements in future market rates and is not necessarily indicative of actual results , which may or may not occur . it does not represent the maximum possible loss or any expected loss that may occur , since actual future gains and losses will differ from those estimated , based upon actual fluctuations in market rates , operating exposures , and the timing thereof , and changes in our portfolio of derivative financial instruments during the year . we believe , however , that any such loss incurred would be offset by the effects of market rate movements on the respective underlying transactions for which the deriva- tive financial instrument was intended . off-balance sheet arrangements we do not maintain any off-balance sheet arrangements , transactions , obligations or other relationships with unconsolidated entities , other than operating leases , that would be expected to have a material current or future effect upon our financial condition or results of operations . recently issued accounting standards refer to 201cnote 2 2014 summary of significant accounting policies 201d of notes to consolidated financial statements for discussion regarding the impact of accounting stan- dards that were recently issued but not yet effective , on our consolidated financial statements . forward-looking information we and our representatives from time to time make written or oral forward-looking statements , including statements contained in this and other filings with the securities and exchange commission , in our press releases and in our reports to stockholders . the words and phrases 201cwill likely result , 201d 201cexpect , 201d 201cbelieve , 201d 201cplanned , 201d 201cmay , 201d 201cshould , 201d 201ccould , 201d 201canticipate , 201d 201cestimate , 201d 201cproject , 201d 201cintend , 201d 201cforecast 201d or similar expressions are intended to identify 201cforward-looking statements 201d within the meaning of the private securities litigation reform act of 1995 . these statements include , without limitation , our expectations regarding sales , earn- ings or other future financial performance and liquidity , product introductions , entry into new geographic regions , information systems initiatives , new methods of sale , our long-term strategy , restructuring and other charges and resulting cost savings , and future operations or operating results . although we believe that our expectations are based on reasonable assumptions within the bounds of our knowledge of our business and operations , actual results may differ materially from our expectations . factors that could cause actual results to differ from expectations include , without limitation : ( 1 ) increased competitive activity from companies in the skin care , makeup , fragrance and hair care businesses , some of which have greater resources than we do ; ( 2 ) our ability to develop , produce and market new prod- ucts on which future operating results may depend and to successfully address challenges in our business ; ( 3 ) consolidations , restructurings , bankruptcies and reorganizations in the retail industry causing a decrease in the number of stores that sell our products , an increase in the ownership concentration within the retail industry , ownership of retailers by our competitors or ownership of competitors by our customers that are retailers and our inability to collect receivables ; ( 4 ) destocking and tighter working capital management by retailers ; ( 5 ) the success , or changes in timing or scope , of new product launches and the success , or changes in the tim- ing or the scope , of advertising , sampling and merchan- dising programs ; ( 6 ) shifts in the preferences of consumers as to where and how they shop for the types of products and services we sell ; ( 7 ) social , political and economic risks to our foreign or domestic manufacturing , distribution and retail opera- tions , including changes in foreign investment and trade policies and regulations of the host countries and of the united states ; 77840es_fin.indd 68 9/12/14 5:11 pm .
| string | null | variation = 27.4 - 18.9
answer = variation |
what was the percent of the fees and cost for the processing of the 7.50% ( 7.50 % ) senior notes due 2012 issued february 2004 | 1.5 | CodeFinQA | proceeds from the sale of equity securities . from time to time , we raise funds through public offerings of our equity securities . in addition , we receive proceeds from sales of our equity securities pursuant to our stock option and stock purchase plans . for the year ended december 31 , 2004 , we received approximately $ 40.6 million in proceeds from sales of shares of our class a common stock and the common stock of atc mexico pursuant to our stock option and stock purchase plans . financing activities during the year ended december 31 , 2004 , we took several actions to increase our financial flexibility and reduce our interest costs . new credit facility . in may 2004 , we refinanced our previous credit facility with a new $ 1.1 billion senior secured credit facility . at closing , we received $ 685.5 million of net proceeds from the borrowings under the new facility , after deducting related expenses and fees , approximately $ 670.0 million of which we used to repay principal and interest under the previous credit facility . we used the remaining net proceeds of $ 15.5 million for general corporate purposes , including the repurchase of other outstanding debt securities . the new credit facility consists of the following : 2022 $ 400.0 million in undrawn revolving loan commitments , against which approximately $ 19.3 million of undrawn letters of credit were outstanding at december 31 , 2004 , maturing on february 28 , 2011 ; 2022 a $ 300.0 million term loan a , which is fully drawn , maturing on february 28 , 2011 ; and 2022 a $ 398.0 million term loan b , which is fully drawn , maturing on august 31 , 2011 . the new credit facility extends the previous credit facility maturity dates from 2007 to 2011 for a majority of the borrowings outstanding , subject to earlier maturity upon the occurrence of certain events described below , and allows us to use credit facility borrowings and internally generated funds to repurchase other indebtedness without additional lender approval . the new credit facility is guaranteed by us and is secured by a pledge of substantially all of our assets . the maturity date for term loan a and any outstanding revolving loans will be accelerated to august 15 , 2008 , and the maturity date for term loan b will be accelerated to october 31 , 2008 , if ( 1 ) on or prior to august 1 , 2008 , our 93 20448% ( 20448 % ) senior notes have not been ( a ) refinanced with parent company indebtedness having a maturity date of february 28 , 2012 or later or with loans under the new credit facility , or ( b ) repaid , prepaid , redeemed , repurchased or otherwise retired , and ( 2 ) our consolidated leverage ratio ( total parent company debt to annualized operating cash flow ) at june 30 , 2008 is greater than 4.50 to 1.00 . if this were to occur , the payments due in 2008 for term loan a and term loan b would be $ 225.0 million and $ 386.0 million , respectively . note offerings . during 2004 , we raised approximately $ 1.1 billion in net proceeds from the sale of debt securities through institutional private placements as follows ( in millions ) : debt security date of offering principal amount approximate net proceeds .
| Debt Security | Date of Offering | Principal Amount | Approximate Net Proceeds |
| :--- | :--- | :--- | :--- |
| 7.50% Senior Notes due 2012 | February 2004 | $225.0 | $221.7 |
| 3.00% Convertible Notes due August 15, 2012 | August 2004 | 345.0 | 335.9 |
| 7.125% Senior Notes due 2012 | October 2004 | 300.0 | 292.8 |
| 7.125% Senior Notes due 2012 | December 2004 | 200.0 | 199.8 |
| Total | | $1,070.0 | $1,050.2 |
2022 7.50% ( 7.50 % ) senior notes offering . in february 2004 , we sold $ 225.0 million principal amount of our 7.50% ( 7.50 % ) senior notes due 2012 through an institutional private placement . the 7.50% ( 7.50 % ) senior notes mature on may 1 , 2012 , and interest is payable semiannually in arrears on may 1 and november 1 of each year. .
| string | null | fees_and_cost_2004 = 225.0
proceeds_from_sales_2004 = 221.7
percent_fees_and_cost = (fees_and_cost_2004 - proceeds_from_sales_2004) / proceeds_from_sales_2004
answer = percent_fees_and_cost * 100 |
what is the net change in cash for 2017? | 319.299987793 | CodeFinQA | management 2019s discussion and analysis of financial condition and results of operations 2013 ( continued ) ( amounts in millions , except per share amounts ) operating income increased during 2017 when compared to 2016 , comprised of a decrease in revenue of $ 42.1 , as discussed above , a decrease in salaries and related expenses of $ 28.0 and a decrease in office and general expenses of $ 16.9 . the decrease in salaries and related expenses was primarily due to lower discretionary bonuses and incentive expense as well as a decrease in base salaries , benefits and tax . the decrease in office and general expenses was primarily due to decreases in adjustments to contingent acquisition obligations , as compared to the prior year . operating income increased during 2016 when compared to 2015 due to an increase in revenue of $ 58.8 , as discussed above , and a decrease in office and general expenses of $ 3.7 , partially offset by an increase in salaries and related expenses of $ 38.8 . the increase in salaries and related expenses was attributable to an increase in base salaries , benefits and tax primarily due to increases in our workforce to support business growth over the last twelve months . the decrease in office and general expenses was primarily due to lower production expenses related to pass-through costs , which are also reflected in revenue , for certain projects in which we acted as principal that decreased in size or did not recur during the current year . corporate and other certain corporate and other charges are reported as a separate line item within total segment operating income and include corporate office expenses , as well as shared service center and certain other centrally managed expenses that are not fully allocated to operating divisions . salaries and related expenses include salaries , long-term incentives , annual bonuses and other miscellaneous benefits for corporate office employees . office and general expenses primarily include professional fees related to internal control compliance , financial statement audits and legal , information technology and other consulting services that are engaged and managed through the corporate office . office and general expenses also include rental expense and depreciation of leasehold improvements for properties occupied by corporate office employees . a portion of centrally managed expenses are allocated to operating divisions based on a formula that uses the planned revenues of each of the operating units . amounts allocated also include specific charges for information technology-related projects , which are allocated based on utilization . corporate and other expenses decreased during 2017 by $ 20.6 to $ 126.6 compared to 2016 , primarily due to lower annual incentive expense . corporate and other expenses increased during 2016 by $ 5.4 to $ 147.2 compared to 2015 . liquidity and capital resources cash flow overview the following tables summarize key financial data relating to our liquidity , capital resources and uses of capital. .
| | Years ended December 31, |
| :--- | :--- |
| Cash Flow Data | 2017 | 2016 | 2015 |
| Net income, adjusted to reconcile to net cash provided by operating activities<sup>1</sup> | $887.3 | $1,023.2 | $848.8 |
| Net cash used in working capital<sup>2</sup> | (29.9) | (414.9) | (99.9) |
| Changes in other non-current assets and liabilities | 24.4 | (95.5) | (60.4) |
| Net cash provided by operating activities | $881.8 | $512.8 | $688.5 |
| Net cash used in investing activities | (196.2) | (263.9) | (199.7) |
| Net cash used in financing activities | (1,004.9) | (666.4) | (490.9) |
1 reflects net income adjusted primarily for depreciation and amortization of fixed assets and intangible assets , amortization of restricted stock and other non-cash compensation , net losses on sales of businesses and deferred income taxes . 2 reflects changes in accounts receivable , expenditures billable to clients , other current assets , accounts payable and accrued liabilities . operating activities due to the seasonality of our business , we typically use cash from working capital in the first nine months of a year , with the largest impact in the first quarter , and generate cash from working capital in the fourth quarter , driven by the seasonally strong media spending by our clients . quarterly and annual working capital results are impacted by the fluctuating annual media spending budgets of our clients as well as their changing media spending patterns throughout each year across various countries. .
| string | null | net_cash_change_2017 = 881.8 + -196.2 + -1004.9
answer = net_cash_change_2017 |
what was the percentage change in the annual operating cash flow between 2010 and 2011? | 102 | CodeFinQA | 35% ( 35 % ) due primarily to certain undistributed foreign earnings for which no u.s . taxes are provided because such earnings are intended to be indefinitely reinvested outside the u.s . as of september 29 , 2012 , the company had deferred tax assets arising from deductible temporary differences , tax losses , and tax credits of $ 4.0 billion , and deferred tax liabilities of $ 14.9 billion . management believes it is more likely than not that forecasted income , including income that may be generated as a result of certain tax planning strategies , together with future reversals of existing taxable temporary differences , will be sufficient to fully recover the deferred tax assets . the company will continue to evaluate the realizability of deferred tax assets quarterly by assessing the need for and amount of a valuation allowance . the internal revenue service ( the 201cirs 201d ) has completed its field audit of the company 2019s federal income tax returns for the years 2004 through 2006 and proposed certain adjustments . the company has contested certain of these adjustments through the irs appeals office . the irs is currently examining the years 2007 through 2009 . all irs audit issues for years prior to 2004 have been resolved . in addition , the company is subject to audits by state , local , and foreign tax authorities . management believes that adequate provisions have been made for any adjustments that may result from tax examinations . however , the outcome of tax audits cannot be predicted with certainty . if any issues addressed in the company 2019s tax audits are resolved in a manner not consistent with management 2019s expectations , the company could be required to adjust its provision for income taxes in the period such resolution occurs . liquidity and capital resources the following table presents selected financial information and statistics as of and for the years ended september 29 , 2012 , september 24 , 2011 , and september 25 , 2010 ( in millions ) : .
| | 2012 | 2011 | 2010 |
| :--- | :--- | :--- | :--- |
| Cash, cash equivalents and marketable securities | $121,251 | $81,570 | $51,011 |
| Accounts receivable, net | $10,930 | $5,369 | $5,510 |
| Inventories | $791 | $776 | $1,051 |
| Working capital | $19,111 | $17,018 | $20,956 |
| Annual operating cash flow | $50,856 | $37,529 | $18,595 |
as of september 29 , 2012 , the company had $ 121.3 billion in cash , cash equivalents and marketable securities , an increase of $ 39.7 billion or 49% ( 49 % ) from september 24 , 2011 . the principal components of this net increase was the cash generated by operating activities of $ 50.9 billion , which was partially offset by payments for acquisition of property , plant and equipment of $ 8.3 billion , payments for acquisition of intangible assets of $ 1.1 billion and payments of dividends and dividend equivalent rights of $ 2.5 billion . the company 2019s marketable securities investment portfolio is invested primarily in highly-rated securities and its investment policy generally limits the amount of credit exposure to any one issuer . the policy requires investments generally to be investment grade with the objective of minimizing the potential risk of principal loss . as of september 29 , 2012 and september 24 , 2011 , $ 82.6 billion and $ 54.3 billion , respectively , of the company 2019s cash , cash equivalents and marketable securities were held by foreign subsidiaries and are generally based in u.s . dollar-denominated holdings . amounts held by foreign subsidiaries are generally subject to u.s . income taxation on repatriation to the u.s . the company believes its existing balances of cash , cash equivalents and marketable securities will be sufficient to satisfy its working capital needs , capital asset purchases , outstanding commitments , common stock repurchases , dividends on its common stock , and other liquidity requirements associated with its existing operations over the next 12 months . capital assets the company 2019s capital expenditures were $ 10.3 billion during 2012 , consisting of $ 865 million for retail store facilities and $ 9.5 billion for other capital expenditures , including product tooling and manufacturing process .
| string | null | operating_cash_flow_change = 37529 - 18595
percent_change = operating_cash_flow_change / 18595
answer = percent_change * 100 |
what is the roi of global payments from 2003 to 2004? | 37.7999992371 | CodeFinQA | stock performance graph the following line-graph presentation compares our cumulative shareholder returns with the standard & poor 2019s information technology index and the standard & poor 2019s 500 stock index for the past five years . the line graph assumes the investment of $ 100 in our common stock , the standard & poor 2019s information technology index , and the standard & poor 2019s 500 stock index on may 31 , 2003 and assumes reinvestment of all dividends . comparison of 5 year cumulative total return* among global payments inc. , the s&p 500 index and the s&p information technology index 5/03 5/04 5/05 5/06 5/07 5/08 global payments inc . s&p 500 s&p information technology * $ 100 invested on 5/31/03 in stock or index-including reinvestment of dividends . fiscal year ending may 31 . global payments s&p 500 information technology .
| | Global Payments | S&P 500 | S&P Information Technology |
| :--- | :--- | :--- | :--- |
| May 31, 2003 | $100.00 | $100.00 | $100.00 |
| May 31, 2004 | 137.75 | 118.33 | 121.98 |
| May 31, 2005 | 205.20 | 128.07 | 123.08 |
| May 31, 2006 | 276.37 | 139.14 | 123.99 |
| May 31, 2007 | 238.04 | 170.85 | 152.54 |
| May 31, 2008 | 281.27 | 159.41 | 156.43 |
issuer purchases of equity securities in fiscal 2007 , our board of directors approved a share repurchase program that authorized the purchase of up to $ 100 million of global payments 2019 stock in the open market or as otherwise may be determined by us , subject to market conditions , business opportunities , and other factors . under this authorization , we have repurchased 2.3 million shares of our common stock . this authorization has no expiration date and may be suspended or terminated at any time . repurchased shares will be retired but will be available for future issuance. .
| string | null | global_payments_2004 = 137.75
global_payments_2003 = 100
roi = (global_payments_2004 - global_payments_2003) / global_payments_2003
answer = roi * 100 |
what are the cash flows from the sale of property , plant and equipment in 2018 as a percentage of cash from operating activities in 2018? | 26 | CodeFinQA | bhge 2018 form 10-k | 39 outstanding under the commercial paper program . the maximum combined borrowing at any time under both the 2017 credit agreement and the commercial paper program is $ 3 billion . if market conditions were to change and our revenue was reduced significantly or operating costs were to increase , our cash flows and liquidity could be reduced . additionally , it could cause the rating agencies to lower our credit rating . there are no ratings triggers that would accelerate the maturity of any borrowings under our committed credit facility . however , a downgrade in our credit ratings could increase the cost of borrowings under the credit facility and could also limit or preclude our ability to issue commercial paper . should this occur , we could seek alternative sources of funding , including borrowing under the credit facility . during the year ended december 31 , 2018 , we used cash to fund a variety of activities including certain working capital needs and restructuring costs , capital expenditures , the repayment of debt , payment of dividends , distributions to ge and share repurchases . we believe that cash on hand , cash flows generated from operations and the available credit facility will provide sufficient liquidity to manage our global cash needs . cash flows cash flows provided by ( used in ) each type of activity were as follows for the years ended december 31: .
| (In millions) | 2018 | 2017 | 2016 |
| :--- | :--- | :--- | :--- |
| Operating activities | $1,762 | $(799) | $262 |
| Investing activities | (578) | (4,123) | (472) |
| Financing activities | (4,363) | 10,919 | (102) |
operating activities our largest source of operating cash is payments from customers , of which the largest component is collecting cash related to product or services sales including advance payments or progress collections for work to be performed . the primary use of operating cash is to pay our suppliers , employees , tax authorities and others for a wide range of material and services . cash flows from operating activities generated cash of $ 1762 million and used cash of $ 799 million for the years ended december 31 , 2018 and 2017 , respectively . cash flows from operating activities increased $ 2561 million in 2018 primarily driven by better operating performance . these cash inflows were supported by strong working capital cash flows , especially in the fourth quarter of 2018 , including approximately $ 300 million for a progress collection payment from a customer . included in our cash flows from operating activities for 2018 and 2017 are payments of $ 473 million and $ 612 million , respectively , made primarily for employee severance as a result of our restructuring activities and merger and related costs . cash flows from operating activities used $ 799 million and generated $ 262 million for the years ended december 31 , 2017 and 2016 , respectively . cash flows from operating activities decreased $ 1061 million in 2017 primarily driven by a $ 1201 million negative impact from ending our receivables monetization program in the fourth quarter , and restructuring related payments throughout the year . these cash outflows were partially offset by strong working capital cash flows , especially in the fourth quarter of 2017 . included in our cash flows from operating activities for 2017 and 2016 are payments of $ 612 million and $ 177 million , respectively , made for employee severance as a result of our restructuring activities and merger and related costs . investing activities cash flows from investing activities used cash of $ 578 million , $ 4123 million and $ 472 million for the years ended december 31 , 2018 , 2017 and 2016 , respectively . our principal recurring investing activity is the funding of capital expenditures to ensure that we have the appropriate levels and types of machinery and equipment in place to generate revenue from operations . expenditures for capital assets totaled $ 995 million , $ 665 million and $ 424 million for 2018 , 2017 and 2016 , respectively , partially offset by cash flows from the sale of property , plant and equipment of $ 458 million , $ 172 million and $ 20 million in 2018 , 2017 and 2016 , respectively . proceeds from the disposal of assets related primarily .
| string | null | cash_from_sales_2018 = 458
cash_from_sales_total = 1762
percent_cash_from_sales = cash_from_sales_2018 / cash_from_sales_total
answer = percent_cash_from_sales * 100 |
in 2018 what was the net change in the cash in millions | 366.8999938965 | CodeFinQA | compared to earlier levels . the pre-tax non-cash impairments of certain mineral rights and real estate discussed above under the caption fffdland and development impairments fffd are not included in segment income . liquidity and capital resources on january 29 , 2018 , we announced that a definitive agreement had been signed for us to acquire all of the outstanding shares of kapstone for $ 35.00 per share and the assumption of approximately $ 1.36 billion in net debt , for a total enterprise value of approximately $ 4.9 billion . in contemplation of the transaction , on march 6 , 2018 , we issued $ 600.0 million aggregate principal amount of 3.75% ( 3.75 % ) senior notes due 2025 and $ 600.0 million aggregate principal amount of 4.0% ( 4.0 % ) senior notes due 2028 in an unregistered offering pursuant to rule 144a and regulation s under the securities act of 1933 , as amended ( the fffdsecurities act fffd ) . in addition , on march 7 , 2018 , we entered into the delayed draw credit facilities ( as hereinafter defined ) that provide for $ 3.8 billion of senior unsecured term loans . on november 2 , 2018 , in connection with the closing of the kapstone acquisition , we drew upon the facility in full . the proceeds of the delayed draw credit facilities ( as hereinafter defined ) and other sources of cash were used to pay the consideration for the kapstone acquisition , to repay certain existing indebtedness of kapstone and to pay fees and expenses incurred in connection with the kapstone acquisition . we fund our working capital requirements , capital expenditures , mergers , acquisitions and investments , restructuring activities , dividends and stock repurchases from net cash provided by operating activities , borrowings under our credit facilities , proceeds from our new a/r sales agreement ( as hereinafter defined ) , proceeds from the sale of property , plant and equipment removed from service and proceeds received in connection with the issuance of debt and equity securities . see fffdnote 13 . debt fffdtt of the notes to consolidated financial statements for additional information . funding for our domestic operations in the foreseeable future is expected to come from sources of liquidity within our domestic operations , including cash and cash equivalents , and available borrowings under our credit facilities . as such , our foreign cash and cash equivalents are not expected to be a key source of liquidity to our domestic operations . at september 30 , 2018 , excluding the delayed draw credit facilities , we had approximately $ 3.2 billion of availability under our committed credit facilities , primarily under our revolving credit facility , the majority of which matures on july 1 , 2022 . this liquidity may be used to provide for ongoing working capital needs and for other general corporate purposes , including acquisitions , dividends and stock repurchases . certain restrictive covenants govern our maximum availability under the credit facilities . we test and report our compliance with these covenants as required and we were in compliance with all of these covenants at september 30 , 2018 . at september 30 , 2018 , we had $ 104.9 million of outstanding letters of credit not drawn cash and cash equivalents were $ 636.8 million at september 30 , 2018 and $ 298.1 million at september 30 , 2017 . we used a significant portion of the cash and cash equivalents on hand at september 30 , 2018 in connection with the closing of the kapstone acquisition . approximately 20% ( 20 % ) of the cash and cash equivalents at september 30 , 2018 were held outside of the u.s . at september 30 , 2018 , total debt was $ 6415.2 million , $ 740.7 million of which was current . at september 30 , 2017 , total debt was $ 6554.8 million , $ 608.7 million of which was current . cash flow activityy .
| | Year Ended September 30, |
| :--- | :--- |
| (In millions) | 2018 | 2017 | 2016 |
| Net cash provided by operating activities | $2,420.9 | $1,900.5 | $1,688.4 |
| Net cash used for investing activities | $(1,298.9) | $(1,285.8) | $(1,351.4) |
| Net cash used for financing activities | $(755.1) | $(655.4) | $(231.0) |
net cash provided by operating activities during fiscal 2018 increased $ 520.4 million from fiscal 2017 primarily due to higher cash earnings and lower cash taxes due to the impact of the tax act . net cash provided by operating activities during fiscal 2017 increased $ 212.1 million from fiscal 2016 primarily due to a $ 111.6 million net increase in cash flow from working capital changes plus higher after-tax cash proceeds from our land and development segment fffds accelerated monetization . the changes in working capital in fiscal 2018 , 2017 and 2016 included a .
| string | null | net_cash_change = 2420.9 + -1298.9 + -755.1
answer = net_cash_change |
in 2012 what was the ratio of the securities borrowed to the securities loaned | 5.0500001907 | CodeFinQA | jpmorgan chase & co./2012 annual report 249 note 13 2013 securities financing activities jpmorgan chase enters into resale agreements , repurchase agreements , securities borrowed transactions and securities loaned transactions ( collectively , 201csecurities financing agreements 201d ) primarily to finance the firm 2019s inventory positions , acquire securities to cover short positions , accommodate customers 2019 financing needs , and settle other securities obligations . securities financing agreements are treated as collateralized financings on the firm 2019s consolidated balance sheets . resale and repurchase agreements are generally carried at the amounts at which the securities will be subsequently sold or repurchased , plus accrued interest . securities borrowed and securities loaned transactions are generally carried at the amount of cash collateral advanced or received . where appropriate under applicable accounting guidance , resale and repurchase agreements with the same counterparty are reported on a net basis . fees received and paid in connection with securities financing agreements are recorded in interest income and interest expense , respectively . the firm has elected the fair value option for certain securities financing agreements . for further information regarding the fair value option , see note 4 on pages 214 2013 216 of this annual report . the securities financing agreements for which the fair value option has been elected are reported within securities purchased under resale agreements ; securities loaned or sold under repurchase agreements ; and securities borrowed on the consolidated balance sheets . generally , for agreements carried at fair value , current-period interest accruals are recorded within interest income and interest expense , with changes in fair value reported in principal transactions revenue . however , for financial instruments containing embedded derivatives that would be separately accounted for in accordance with accounting guidance for hybrid instruments , all changes in fair value , including any interest elements , are reported in principal transactions revenue . the following table details the firm 2019s securities financing agreements , all of which are accounted for as collateralized financings during the periods presented . december 31 , ( in millions ) 2012 2011 securities purchased under resale agreements ( a ) $ 295413 $ 235000 securities borrowed ( b ) 119017 142462 securities sold under repurchase agreements ( c ) $ 215560 $ 197789 securities loaned ( d ) 23582 14214 ( a ) at december 31 , 2012 and 2011 , included resale agreements of $ 24.3 billion and $ 22.2 billion , respectively , accounted for at fair value . ( b ) at december 31 , 2012 and 2011 , included securities borrowed of $ 10.2 billion and $ 15.3 billion , respectively , accounted for at fair value . ( c ) at december 31 , 2012 and 2011 , included repurchase agreements of $ 3.9 billion and $ 6.8 billion , respectively , accounted for at fair value . ( d ) at december 31 , 2012 , included securities loaned of $ 457 million accounted for at fair value . there were no securities loaned accounted for at fair value at december 31 , 2011 . the amounts reported in the table above were reduced by $ 96.9 billion and $ 115.7 billion at december 31 , 2012 and 2011 , respectively , as a result of agreements in effect that meet the specified conditions for net presentation under applicable accounting guidance . jpmorgan chase 2019s policy is to take possession , where possible , of securities purchased under resale agreements and of securities borrowed . the firm monitors the value of the underlying securities ( primarily g7 government securities , u.s . agency securities and agency mbs , and equities ) that it has received from its counterparties and either requests additional collateral or returns a portion of the collateral when appropriate in light of the market value of the underlying securities . margin levels are established initially based upon the counterparty and type of collateral and monitored on an ongoing basis to protect against declines in collateral value in the event of default . jpmorgan chase typically enters into master netting agreements and other collateral arrangements with its resale agreement and securities borrowed counterparties , which provide for the right to liquidate the purchased or borrowed securities in the event of a customer default . as a result of the firm 2019s credit risk mitigation practices with respect to resale and securities borrowed agreements as described above , the firm did not hold any reserves for credit impairment with respect to these agreements as of december 31 , 2012 and for further information regarding assets pledged and collateral received in securities financing agreements , see note 30 on pages 315 2013316 of this annual report. .
| December 31,(in millions) | 2012 | 2011 |
| :--- | :--- | :--- |
| Securities purchased under resale agreements<sup>(a)</sup> | $295,413 | $235,000 |
| Securities borrowed<sup>(b)</sup> | 119,017 | 142,462 |
| Securities sold under repurchase agreements<sup>(c)</sup> | $215,560 | $197,789 |
| Securities loaned<sup>(d)</sup> | 23,582 | 14,214 |
jpmorgan chase & co./2012 annual report 249 note 13 2013 securities financing activities jpmorgan chase enters into resale agreements , repurchase agreements , securities borrowed transactions and securities loaned transactions ( collectively , 201csecurities financing agreements 201d ) primarily to finance the firm 2019s inventory positions , acquire securities to cover short positions , accommodate customers 2019 financing needs , and settle other securities obligations . securities financing agreements are treated as collateralized financings on the firm 2019s consolidated balance sheets . resale and repurchase agreements are generally carried at the amounts at which the securities will be subsequently sold or repurchased , plus accrued interest . securities borrowed and securities loaned transactions are generally carried at the amount of cash collateral advanced or received . where appropriate under applicable accounting guidance , resale and repurchase agreements with the same counterparty are reported on a net basis . fees received and paid in connection with securities financing agreements are recorded in interest income and interest expense , respectively . the firm has elected the fair value option for certain securities financing agreements . for further information regarding the fair value option , see note 4 on pages 214 2013 216 of this annual report . the securities financing agreements for which the fair value option has been elected are reported within securities purchased under resale agreements ; securities loaned or sold under repurchase agreements ; and securities borrowed on the consolidated balance sheets . generally , for agreements carried at fair value , current-period interest accruals are recorded within interest income and interest expense , with changes in fair value reported in principal transactions revenue . however , for financial instruments containing embedded derivatives that would be separately accounted for in accordance with accounting guidance for hybrid instruments , all changes in fair value , including any interest elements , are reported in principal transactions revenue . the following table details the firm 2019s securities financing agreements , all of which are accounted for as collateralized financings during the periods presented . december 31 , ( in millions ) 2012 2011 securities purchased under resale agreements ( a ) $ 295413 $ 235000 securities borrowed ( b ) 119017 142462 securities sold under repurchase agreements ( c ) $ 215560 $ 197789 securities loaned ( d ) 23582 14214 ( a ) at december 31 , 2012 and 2011 , included resale agreements of $ 24.3 billion and $ 22.2 billion , respectively , accounted for at fair value . ( b ) at december 31 , 2012 and 2011 , included securities borrowed of $ 10.2 billion and $ 15.3 billion , respectively , accounted for at fair value . ( c ) at december 31 , 2012 and 2011 , included repurchase agreements of $ 3.9 billion and $ 6.8 billion , respectively , accounted for at fair value . ( d ) at december 31 , 2012 , included securities loaned of $ 457 million accounted for at fair value . there were no securities loaned accounted for at fair value at december 31 , 2011 . the amounts reported in the table above were reduced by $ 96.9 billion and $ 115.7 billion at december 31 , 2012 and 2011 , respectively , as a result of agreements in effect that meet the specified conditions for net presentation under applicable accounting guidance . jpmorgan chase 2019s policy is to take possession , where possible , of securities purchased under resale agreements and of securities borrowed . the firm monitors the value of the underlying securities ( primarily g7 government securities , u.s . agency securities and agency mbs , and equities ) that it has received from its counterparties and either requests additional collateral or returns a portion of the collateral when appropriate in light of the market value of the underlying securities . margin levels are established initially based upon the counterparty and type of collateral and monitored on an ongoing basis to protect against declines in collateral value in the event of default . jpmorgan chase typically enters into master netting agreements and other collateral arrangements with its resale agreement and securities borrowed counterparties , which provide for the right to liquidate the purchased or borrowed securities in the event of a customer default . as a result of the firm 2019s credit risk mitigation practices with respect to resale and securities borrowed agreements as described above , the firm did not hold any reserves for credit impairment with respect to these agreements as of december 31 , 2012 and for further information regarding assets pledged and collateral received in securities financing agreements , see note 30 on pages 315 2013316 of this annual report. .
| string | null | securities_borrowed = 119017
securities_loaned = 23582
ratio = securities_borrowed / securities_loaned
answer = ratio |
what was the percentage change in the gross unrecognized tax benefits from 2017 to 2018 $ 127.1 | 14.6000003815 | CodeFinQA | westrock company notes to consolidated financial statements 2014 ( continued ) consistent with prior years , we consider a portion of our earnings from certain foreign subsidiaries as subject to repatriation and we provide for taxes accordingly . however , we consider the unremitted earnings and all other outside basis differences from all other foreign subsidiaries to be indefinitely reinvested . accordingly , we have not provided for any taxes that would be due . as of september 30 , 2019 , we estimate our outside basis difference in foreign subsidiaries that are considered indefinitely reinvested to be approximately $ 1.6 billion . the components of the outside basis difference are comprised of purchase accounting adjustments , undistributed earnings , and equity components . except for the portion of our earnings from certain foreign subsidiaries where we provided for taxes , we have not provided for any taxes that would be due upon the reversal of the outside basis differences . however , in the event of a distribution in the form of dividends or dispositions of the subsidiaries , we may be subject to incremental u.s . income taxes , subject to an adjustment for foreign tax credits , and withholding taxes or income taxes payable to the foreign jurisdictions . as of september 30 , 2019 , the determination of the amount of unrecognized deferred tax liability related to any remaining undistributed foreign earnings not subject to the transition tax and additional outside basis differences is not practicable . a reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows ( in millions ) : .
| | 2019 | 2018 | 2017 |
| :--- | :--- | :--- | :--- |
| Balance at beginning of fiscal year | $127.1 | $148.9 | $166.8 |
| Additions related to purchase accounting<sup>(1)</sup> | 1.0 | 3.4 | 7.7 |
| Additions for tax positions taken in current year<sup>(2)</sup> | 103.8 | 3.1 | 5.0 |
| Additions for tax positions taken in prior fiscal years | 1.8 | 18.0 | 15.2 |
| Reductions for tax positions taken in prior fiscal years | ( 0.5) | ( 5.3) | ( 25.6) |
| Reductions due to settlement<sup>(3)</sup> | ( 4.0) | ( 29.4) | ( 14.1) |
| (Reductions) additions for currency translation adjustments | (1.7) | (9.6) | 2.0 |
| Reductions as a result of a lapse of the applicable statute oflimitations | ( 3.2) | ( 2.0) | ( 8.1) |
| Balance at end of fiscal year | $224.3 | $127.1 | $148.9 |
( 1 ) amounts in fiscal 2019 relate to the kapstone acquisition . amounts in fiscal 2018 and 2017 relate to the mps acquisition . ( 2 ) additions for tax positions taken in current fiscal year includes primarily positions taken related to foreign subsidiaries . ( 3 ) amounts in fiscal 2019 relate to the settlements of state and foreign audit examinations . amounts in fiscal 2018 relate to the settlement of state audit examinations and federal and state amended returns filed related to affirmative adjustments for which there was a reserve . amounts in fiscal 2017 relate to the settlement of federal and state audit examinations with taxing authorities . as of september 30 , 2019 and 2018 , the total amount of unrecognized tax benefits was approximately $ 224.3 million and $ 127.1 million , respectively , exclusive of interest and penalties . of these balances , as of september 30 , 2019 and 2018 , if we were to prevail on all unrecognized tax benefits recorded , approximately $ 207.5 million and $ 108.7 million , respectively , would benefit the effective tax rate . we regularly evaluate , assess and adjust the related liabilities in light of changing facts and circumstances , which could cause the effective tax rate to fluctuate from period to period . resolution of the uncertain tax positions could have a material adverse effect on our cash flows or materially benefit our results of operations in future periods depending upon their ultimate resolution . see 201cnote 18 . commitments and contingencies 2014 brazil tax liability 201d we recognize estimated interest and penalties related to unrecognized tax benefits in income tax expense in the consolidated statements of income . as of september 30 , 2019 , we had liabilities of $ 80.0 million related to estimated interest and penalties for unrecognized tax benefits . as of september 30 , 2018 , we had liabilities of $ 70.4 million , related to estimated interest and penalties for unrecognized tax benefits . our results of operations for the fiscal year ended september 30 , 2019 , 2018 and 2017 include expense of $ 9.7 million , $ 5.8 million and $ 7.4 million , respectively , net of indirect benefits , related to estimated interest and penalties with respect to the liability for unrecognized tax benefits . as of september 30 , 2019 , it is reasonably possible that our unrecognized tax benefits will decrease by up to $ 8.7 million in the next twelve months due to expiration of various statues of limitations and settlement of issues. .
| string | null | gross_unrecognized_tax_benefits = 127.1
tax_benefit_2017 = 148.9
decrease = gross_unrecognized_tax_benefits - tax_benefit_2017
percent_decrease = decrease / tax_benefit_2017
answer = percent_decrease * 100 |
what was the percentage change on pro forma basis of the diluted earnings per share from continuing operations between 2016 and 2017? | 15 | CodeFinQA | pro forma financial information the following pro forma consolidated condensed financial results of operations are presented as if the acquisition of the valves & controls business occurred on october 1 , 2015 . the pro forma information is presented for informational purposes only and is not indicative of the results of operations that would have been achieved had the acquisition occurred as of that time. .
| | 2016 | 2017 |
| :--- | :--- | :--- |
| Net sales | $16,201 | 16,112 |
| Net earnings from continuing operations common stockholders | $1,482 | 1,692 |
| Diluted earnings per share from continuing operations | $2.28 | 2.62 |
the pro forma results for 2016 were adjusted to include first year acquisition accounting charges related to inventory and backlog of $ 122 in 2017 . the pro forma 2016 results also include acquisition costs of $ 52 , while the 2017 pro forma results were adjusted to exclude these charges . on october 2 , 2017 , the company sold its residential storage business for $ 200 in cash , subject to post-closing adjustments , and expects to recognize a loss of approximately $ 40 in 2018 due to income taxes resulting from nondeductible goodwill . the company expects to realize approximately $ 140 in after-tax cash proceeds from the sale . this business , with sales of $ 298 and pretax earnings of $ 15 in 2017 , is a leader in home organization and storage systems , and was reported within the tools & home products segment . assets and liabilities were classified as held-for-sale as of september 30 , 2017 . the company acquired six businesses in 2016 , four in automation solutions and two in climate technologies . total cash paid for these businesses was $ 132 , net of cash acquired . annualized sales for these businesses were approximately $ 51 in 2016 . the company recognized goodwill of $ 83 ( $ 27 of which is expected to be tax deductible ) and other identifiable intangible assets of $ 50 , primarily customer relationships and intellectual property with a weighted-average life of approximately nine years . the company completed eight acquisitions in 2015 , seven in automation solutions and one in tools & home products , which had combined annualized sales of approximately $ 115 . total cash paid for all businesses was $ 324 , net of cash acquired . the company recognized goodwill of $ 178 ( $ 42 of which is expected to be tax deductible ) and other intangible assets of $ 128 , primarily customer relationships and intellectual property with a weighted-average life of approximately ten years . in january 2015 , the company completed the sale of its mechanical power transmission solutions business for $ 1.4 billion , and recognized a pretax gain from the transaction of $ 939 ( $ 532 after-tax , $ 0.78 per share ) . assets and liabilities sold were as follows : current assets , $ 182 ( accounts receivable , inventories , other current assets ) ; other assets , $ 374 ( property , plant and equipment , goodwill , other noncurrent assets ) ; accrued expenses , $ 56 ( accounts payable , other current liabilities ) ; and other liabilities , $ 41 . proceeds from the divestiture were used for share repurchase . this business was previously reported in the former industrial automation segment , and had partial year sales in 2015 of $ 189 and related pretax earnings of $ 21 . power transmission solutions designs and manufactures market-leading couplings , bearings , conveying components and gearing and drive components , and provides supporting services and solutions . on september 30 , 2015 , the company sold its intermetro commercial storage business for $ 411 in cash and recognized a pretax gain from the transaction of $ 100 ( $ 79 after-tax , $ 0.12 per share ) . this business had annual sales of $ 288 and pretax earnings of $ 42 in 2015 and was reported in the former commercial & residential solutions segment . assets and liabilities sold were as follows : current assets , $ 62 ( accounts receivable , inventories , other current assets ) ; other assets , $ 292 ( property , plant and equipment , goodwill , other noncurrent assets ) ; current liabilities , $ 34 ( accounts payable , other current liabilities ) ; and other liabilities , $ 9 . intermetro is a leading manufacturer and supplier of storage and transport products in the food service , commercial products and health care industries . the results of operations of the acquired businesses discussed above have been included in the company 2019s consolidated results of operations since the respective dates of acquisition . ( 4 ) discontinued operations in 2017 , the company completed the previously announced strategic actions to streamline its portfolio and drive growth in its core businesses . on november 30 , 2016 , the company completed the sale of its network power systems business for $ 4.0 billion in cash and retained a subordinated interest in distributions , contingent upon the equity holders first receiving a threshold return on their initial investment . this business comprised the former network power segment . additionally , on january 31 , 2017 , the company completed the sale of its power generation , motors and drives business for approximately $ 1.2 billion , subject to post-closing .
| string | null | earnings_2016 = 2.62
earnings_2017 = 2.28
percent_change = (earnings_2016 - earnings_2017) / earnings_2017
answer = percent_change * 100 |
considering the twelve months ended december 31 , 2017 , what was the percentual increase observed in total puds? | 957 | CodeFinQA | eog resources , inc . supplemental information to consolidated financial statements ( continued ) net proved undeveloped reserves . the following table presents the changes in eog's total proved undeveloped reserves during 2017 , 2016 and 2015 ( in mboe ) : .
| | 2017 | 2016 | 2015 |
| :--- | :--- | :--- | :--- |
| Balance at January 1 | 1,053,027 | 1,045,640 | 1,149,309 |
| Extensions and Discoveries | 237,378 | 138,101 | 205,152 |
| Revisions | 33,127 | 64,413 | (241,973) |
| Acquisition of Reserves | — | — | 54,458 |
| Sale of Reserves | (8,253) | (45,917) | — |
| Conversion to Proved Developed Reserves | (152,644) | (149,210) | (121,306) |
| Balance at December 31 | 1,162,635 | 1,053,027 | 1,045,640 |
for the twelve-month period ended december 31 , 2017 , total puds increased by 110 mmboe to 1163 mmboe . eog added approximately 38 mmboe of puds through drilling activities where the wells were drilled but significant expenditures remained for completion . based on the technology employed by eog to identify and record puds ( see discussion of technology employed on pages f-38 and f-39 of this annual report on form 10-k ) , eog added 199 mmboe . the pud additions were primarily in the permian basin and , to a lesser extent , the eagle ford and the rocky mountain area , and 74% ( 74 % ) of the additions were crude oil and condensate and ngls . during 2017 , eog drilled and transferred 153 mmboe of puds to proved developed reserves at a total capital cost of $ 1440 million . revisions of puds totaled positive 33 mmboe , primarily due to updated type curves resulting from improved performance of offsetting wells in the permian basin , the impact of increases in the average crude oil and natural gas prices used in the december 31 , 2017 , reserves estimation as compared to the prices used in the prior year estimate , and lower costs . during 2017 , eog sold or exchanged 8 mmboe of puds primarily in the permian basin . all puds , including drilled but uncompleted wells ( ducs ) , are scheduled for completion within five years of the original reserve booking . for the twelve-month period ended december 31 , 2016 , total puds increased by 7 mmboe to 1053 mmboe . eog added approximately 21 mmboe of puds through drilling activities where the wells were drilled but significant expenditures remained for completion . based on the technology employed by eog to identify and record puds , eog added 117 mmboe . the pud additions were primarily in the permian basin and , to a lesser extent , the rocky mountain area , and 82% ( 82 % ) of the additions were crude oil and condensate and ngls . during 2016 , eog drilled and transferred 149 mmboe of puds to proved developed reserves at a total capital cost of $ 1230 million . revisions of puds totaled positive 64 mmboe , primarily due to improved well performance , primarily in the delaware basin , and lower production costs , partially offset by the impact of decreases in the average crude oil and natural gas prices used in the december 31 , 2016 , reserves estimation as compared to the prices used in the prior year estimate . during 2016 , eog sold 46 mmboe of puds primarily in the haynesville play . all puds for drilled but uncompleted wells ( ducs ) are scheduled for completion within five years of the original reserve booking . for the twelve-month period ended december 31 , 2015 , total puds decreased by 104 mmboe to 1046 mmboe . eog added approximately 52 mmboe of puds through drilling activities where the wells were drilled but significant expenditures remained for completion . based on the technology employed by eog to identify and record puds , eog added 153 mmboe . the pud additions were primarily in the permian basin and , to a lesser extent , the eagle ford and the rocky mountain area , and 80% ( 80 % ) of the additions were crude oil and condensate and ngls . during 2015 , eog drilled and transferred 121 mmboe of puds to proved developed reserves at a total capital cost of $ 2349 million . revisions of puds totaled negative 242 mmboe , primarily due to decreases in the average crude oil and natural gas prices used in the december 31 , 2015 , reserves estimation as compared to the prices used in the prior year estimate . during 2015 , eog did not sell any puds and acquired 54 mmboe of puds. .
| string | null | end_of_period_puds = 1163
start_of_period_puds = 110
percent_change = (end_of_period_puds - start_of_period_puds) / start_of_period_puds
answer = percent_change * 100 |
what amount of long-term debt is due in the next 36 months for entergy corporation as of december 31 , 2016 , in millions? | 1860.4000244141 | CodeFinQA | entergy corporation and subsidiaries notes to financial statements ( a ) consists of pollution control revenue bonds and environmental revenue bonds , some of which are secured by collateral first mortgage bonds . ( b ) these notes do not have a stated interest rate , but have an implicit interest rate of 4.8% ( 4.8 % ) . ( c ) pursuant to the nuclear waste policy act of 1982 , entergy 2019s nuclear owner/licensee subsidiaries have contracts with the doe for spent nuclear fuel disposal service . the contracts include a one-time fee for generation prior to april 7 , 1983 . entergy arkansas is the only entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee , plus accrued interest , in long-term debt . ( d ) see note 10 to the financial statements for further discussion of the waterford 3 lease obligation and entergy louisiana 2019s acquisition of the equity participant 2019s beneficial interest in the waterford 3 leased assets and for further discussion of the grand gulf lease obligation . ( e ) this note does not have a stated interest rate , but has an implicit interest rate of 7.458% ( 7.458 % ) . ( f ) the fair value excludes lease obligations of $ 57 million at entergy louisiana and $ 34 million at system energy , and long-term doe obligations of $ 182 million at entergy arkansas , and includes debt due within one year . fair values are classified as level 2 in the fair value hierarchy discussed in note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades . the annual long-term debt maturities ( excluding lease obligations and long-term doe obligations ) for debt outstanding as of december 31 , 2016 , for the next five years are as follows : amount ( in thousands ) .
| | Amount (In Thousands) |
| :--- | :--- |
| 2017 | $307,403 |
| 2018 | $828,084 |
| 2019 | $724,899 |
| 2020 | $795,000 |
| 2021 | $1,674,548 |
in november 2000 , entergy 2019s non-utility nuclear business purchased the fitzpatrick and indian point 3 power plants in a seller-financed transaction . as part of the purchase agreement with nypa , entergy recorded a liability representing the net present value of the payments entergy would be liable to nypa for each year that the fitzpatrick and indian point 3 power plants would run beyond their respective original nrc license expiration date . in october 2015 , entergy announced a planned shutdown of fitzpatrick at the end of its fuel cycle . as a result of the announcement , entergy reduced this liability by $ 26.4 million pursuant to the terms of the purchase agreement . in august 2016 , entergy entered into a trust transfer agreement with nypa to transfer the decommissioning trust funds and decommissioning liabilities for the indian point 3 and fitzpatrick plants to entergy . as part of the trust transfer agreement , the original decommissioning agreements were amended , and the entergy subsidiaries 2019 obligation to make additional license extension payments to nypa was eliminated . in the third quarter 2016 , entergy removed the note payable of $ 35.1 million from the consolidated balance sheet . entergy louisiana , entergy mississippi , entergy texas , and system energy have obtained long-term financing authorizations from the ferc that extend through october 2017 . entergy arkansas has obtained long-term financing authorization from the apsc that extends through december 2018 . entergy new orleans has obtained long-term financing authorization from the city council that extends through june 2018 . capital funds agreement pursuant to an agreement with certain creditors , entergy corporation has agreed to supply system energy with sufficient capital to : 2022 maintain system energy 2019s equity capital at a minimum of 35% ( 35 % ) of its total capitalization ( excluding short- term debt ) ; .
| string | null | long_term_debt_2017 = 307403 + 828084
long_term_debt_total = long_term_debt_2017 + 724899
answer = long_term_debt_total / 1000 |
what is the roi of an investment in s&p 500 in 2010 and liquidated in 2011? | 2.0999999046 | CodeFinQA | performance graph the graph below compares the cumulative total shareholder return on pmi's common stock with the cumulative total return for the same period of pmi's compensation survey group and the s&p 500 index . the graph assumes the investment of $ 100 as of december 31 , 2010 , in pmi common stock ( at prices quoted on the new york stock exchange ) and each of the indices as of the market close and reinvestment of dividends on a quarterly basis . date pmi pmi compensation survey group ( 12 ) s&p 500 index .
| Date | PMI | PMI Compensation Survey Group<sup>(1,2)</sup> | S&P 500 Index |
| :--- | :--- | :--- | :--- |
| December 31, 2010 | $100.00 | $100.00 | $100.00 |
| December 31, 2011 | $139.80 | $114.10 | $102.10 |
| December 31, 2012 | $154.60 | $128.00 | $118.50 |
| December 31, 2013 | $167.70 | $163.60 | $156.80 |
| December 31, 2014 | $164.20 | $170.10 | $178.30 |
| December 31, 2015 | $186.20 | $179.20 | $180.80 |
( 1 ) the pmi compensation survey group consists of the following companies with substantial global sales that are direct competitors ; or have similar market capitalization ; or are primarily focused on consumer products ( excluding high technology and financial services ) ; and are companies for which comparative executive compensation data are readily available : bayer ag , british american tobacco p.l.c. , the coca-cola company , diageo plc , glaxosmithkline , heineken n.v. , imperial brands plc ( formerly , imperial tobacco group plc ) , johnson & johnson , mcdonald's corp. , international , inc. , nestl e9 s.a. , novartis ag , pepsico , inc. , pfizer inc. , roche holding ag , unilever nv and plc and vodafone group plc . ( 2 ) on october 1 , 2012 , international , inc . ( nasdaq : mdlz ) , formerly kraft foods inc. , announced that it had completed the spin-off of its north american grocery business , kraft foods group , inc . ( nasdaq : krft ) . international , inc . was retained in the pmi compensation survey group index because of its global footprint . the pmi compensation survey group index total cumulative return calculation weights international , inc.'s total shareholder return at 65% ( 65 % ) of historical kraft foods inc.'s market capitalization on december 31 , 2010 , based on international , inc.'s initial market capitalization relative to the combined market capitalization of international , inc . and kraft foods group , inc . on october 2 , 2012 . note : figures are rounded to the nearest $ 0.10. .
| string | null | start_value = 100
end_value = 102.10
answer = (end_value - start_value) / start_value * 100 |
what was the ratio of the total unpaid principal balance of loans sold with recourse for 2014 to 2013 | 0.7900000215 | CodeFinQA | jpmorgan chase & co./2014 annual report 291 therefore , are not recorded on the consolidated balance sheets until settlement date . the unsettled reverse repurchase agreements and securities borrowing agreements predominantly consist of agreements with regular-way settlement periods . loan sales- and securitization-related indemnifications mortgage repurchase liability in connection with the firm 2019s mortgage loan sale and securitization activities with the gses , as described in note 16 , the firm has made representations and warranties that the loans sold meet certain requirements . the firm has been , and may be , required to repurchase loans and/or indemnify the gses ( e.g. , with 201cmake-whole 201d payments to reimburse the gses for their realized losses on liquidated loans ) . to the extent that repurchase demands that are received relate to loans that the firm purchased from third parties that remain viable , the firm typically will have the right to seek a recovery of related repurchase losses from the third party . generally , the maximum amount of future payments the firm would be required to make for breaches of these representations and warranties would be equal to the unpaid principal balance of such loans that are deemed to have defects that were sold to purchasers ( including securitization-related spes ) plus , in certain circumstances , accrued interest on such loans and certain expense . the following table summarizes the change in the mortgage repurchase liability for each of the periods presented . summary of changes in mortgage repurchase liability ( a ) year ended december 31 , ( in millions ) 2014 2013 2012 repurchase liability at beginning of period $ 681 $ 2811 $ 3557 net realized gains/ ( losses ) ( b ) 53 ( 1561 ) ( 1158 ) .
| Year ended December 31,(in millions) | 2014 | 2013 | 2012 |
| :--- | :--- | :--- | :--- |
| Repurchase liability at beginning of period | $681 | $2,811 | $3,557 |
| Net realized gains/(losses)<sup>(b)</sup> | 53 | (1,561) | (1,158) |
| Reclassification to litigation reserve | — | (179) | — |
| (Benefit)/provision for repurchase<sup>(c)</sup> | (459) | (390) | 412 |
| Repurchase liability at end of period | $275 | $681 | $2,811 |
( benefit ) /provision for repurchase ( c ) ( 459 ) ( 390 ) 412 repurchase liability at end of period $ 275 $ 681 $ 2811 ( a ) on october 25 , 2013 , the firm announced that it had reached a $ 1.1 billion agreement with the fhfa to resolve , other than certain limited types of exposures , outstanding and future mortgage repurchase demands associated with loans sold to the gses from 2000 to 2008 . ( b ) presented net of third-party recoveries and included principal losses and accrued interest on repurchased loans , 201cmake-whole 201d settlements , settlements with claimants , and certain related expense . make-whole settlements were $ 11 million , $ 414 million and $ 524 million , for the years ended december 31 , 2014 , 2013 and 2012 , respectively . ( c ) included a provision related to new loan sales of $ 4 million , $ 20 million and $ 112 million , for the years ended december 31 , 2014 , 2013 and 2012 , respectively . private label securitizations the liability related to repurchase demands associated with private label securitizations is separately evaluated by the firm in establishing its litigation reserves . on november 15 , 2013 , the firm announced that it had reached a $ 4.5 billion agreement with 21 major institutional investors to make a binding offer to the trustees of 330 residential mortgage-backed securities trusts issued by j.p.morgan , chase , and bear stearns ( 201crmbs trust settlement 201d ) to resolve all representation and warranty claims , as well as all servicing claims , on all trusts issued by j.p . morgan , chase , and bear stearns between 2005 and 2008 . the seven trustees ( or separate and successor trustees ) for this group of 330 trusts have accepted the rmbs trust settlement for 319 trusts in whole or in part and excluded from the settlement 16 trusts in whole or in part . the trustees 2019 acceptance is subject to a judicial approval proceeding initiated by the trustees , which is pending in new york state court . in addition , from 2005 to 2008 , washington mutual made certain loan level representations and warranties in connection with approximately $ 165 billion of residential mortgage loans that were originally sold or deposited into private-label securitizations by washington mutual . of the $ 165 billion , approximately $ 78 billion has been repaid . in addition , approximately $ 49 billion of the principal amount of such loans has liquidated with an average loss severity of 59% ( 59 % ) . accordingly , the remaining outstanding principal balance of these loans as of december 31 , 2014 , was approximately $ 38 billion , of which $ 8 billion was 60 days or more past due . the firm believes that any repurchase obligations related to these loans remain with the fdic receivership . for additional information regarding litigation , see note 31 . loans sold with recourse the firm provides servicing for mortgages and certain commercial lending products on both a recourse and nonrecourse basis . in nonrecourse servicing , the principal credit risk to the firm is the cost of temporary servicing advances of funds ( i.e. , normal servicing advances ) . in recourse servicing , the servicer agrees to share credit risk with the owner of the mortgage loans , such as fannie mae or freddie mac or a private investor , insurer or guarantor . losses on recourse servicing predominantly occur when foreclosure sales proceeds of the property underlying a defaulted loan are less than the sum of the outstanding principal balance , plus accrued interest on the loan and the cost of holding and disposing of the underlying property . the firm 2019s securitizations are predominantly nonrecourse , thereby effectively transferring the risk of future credit losses to the purchaser of the mortgage-backed securities issued by the trust . at december 31 , 2014 and 2013 , the unpaid principal balance of loans sold with recourse totaled $ 6.1 billion and $ 7.7 billion , respectively . the carrying value of the related liability that the firm has recorded , which is representative of the firm 2019s view of the likelihood it .
| string | null | recourse_sold_2014 = 6.1
recourse_sold_2013 = 7.7
ratio = recourse_sold_2014 / recourse_sold_2013
answer = ratio |
what is the debt-to-equity ratio in 2017? | 0.7699999809 | CodeFinQA | the goldman sachs group , inc . and subsidiaries management 2019s discussion and analysis during periods in which we have significantly more positive net revenue days than net revenue loss days , we expect to have fewer var exceptions because , under normal conditions , our business model generally produces positive net revenues . in periods in which our franchise revenues are adversely affected , we generally have more loss days , resulting in more var exceptions . the daily net revenues for positions included in var used to determine var exceptions reflect the impact of any intraday activity , including bid/offer net revenues , which are more likely than not to be positive by their nature . sensitivity measures certain portfolios and individual positions are not included in var because var is not the most appropriate risk measure . other sensitivity measures we use to analyze market risk are described below . 10% ( 10 % ) sensitivity measures . the table below presents market risk by asset category for positions accounted for at fair value , that are not included in var. .
| | As of December |
| :--- | :--- |
| <i>$ in millions</i> | 2018 | 2017 |
| Equity | $1,923 | $2,096 |
| Debt | 1,890 | 1,606 |
| Total | $3,813 | $3,702 |
in the table above : 2030 the market risk of these positions is determined by estimating the potential reduction in net revenues of a 10% ( 10 % ) decline in the value of these positions . 2030 equity positions relate to private and restricted public equity securities , including interests in funds that invest in corporate equities and real estate and interests in hedge funds . 2030 debt positions include interests in funds that invest in corporate mezzanine and senior debt instruments , loans backed by commercial and residential real estate , corporate bank loans and other corporate debt , including acquired portfolios of distressed loans . 2030 funded equity and debt positions are included in our consolidated statements of financial condition in financial instruments owned . see note 6 to the consolidated financial statements for further information about cash instruments . 2030 these measures do not reflect the diversification effect across asset categories or across other market risk measures . credit spread sensitivity on derivatives and financial liabilities . var excludes the impact of changes in counterparty and our own credit spreads on derivatives , as well as changes in our own credit spreads ( debt valuation adjustment ) on financial liabilities for which the fair value option was elected . the estimated sensitivity to a one basis point increase in credit spreads ( counterparty and our own ) on derivatives was a gain of $ 3 million ( including hedges ) as of both december 2018 and december 2017 . in addition , the estimated sensitivity to a one basis point increase in our own credit spreads on financial liabilities for which the fair value option was elected was a gain of $ 41 million as of december 2018 and $ 35 million as of december 2017 . however , the actual net impact of a change in our own credit spreads is also affected by the liquidity , duration and convexity ( as the sensitivity is not linear to changes in yields ) of those financial liabilities for which the fair value option was elected , as well as the relative performance of any hedges undertaken . interest rate sensitivity . loans receivable were $ 80.59 billion as of december 2018 and $ 65.93 billion as of december 2017 , substantially all of which had floating interest rates . the estimated sensitivity to a 100 basis point increase in interest rates on such loans was $ 607 million as of december 2018 and $ 527 million as of december 2017 , of additional interest income over a twelve-month period , which does not take into account the potential impact of an increase in costs to fund such loans . see note 9 to the consolidated financial statements for further information about loans receivable . other market risk considerations as of both december 2018 and december 2017 , we had commitments and held loans for which we have obtained credit loss protection from sumitomo mitsui financial group , inc . see note 18 to the consolidated financial statements for further information about such lending commitments . in addition , we make investments in securities that are accounted for as available-for-sale and included in financial instruments owned in the consolidated statements of financial condition . see note 6 to the consolidated financial statements for further information . we also make investments accounted for under the equity method and we also make direct investments in real estate , both of which are included in other assets . direct investments in real estate are accounted for at cost less accumulated depreciation . see note 13 to the consolidated financial statements for further information about other assets . 92 goldman sachs 2018 form 10-k .
| string | null | debt_to_equity_ratio = 1606 / 2096
answer = debt_to_equity_ratio |
how much greater was the five year return for the s&p 500 retail index compared to the s&p 500? | 89 | CodeFinQA | stock performance graph : the graph below shows the cumulative total shareholder return assuming the investment of $ 100 , on december 31 , 2010 , and the reinvestment of dividends thereafter , if any , in the company's common stock versus the standard and poor's s&p 500 retail index ( "s&p 500 retail index" ) and the standard and poor's s&p 500 index ( "s&p 500" ) . .
| | December 31, |
| :--- | :--- |
| Company/Index | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
| O'Reilly Automotive, Inc. | $100 | $132 | $148 | $213 | $319 | $419 |
| S&P 500 Retail Index | 100 | 103 | 128 | 185 | 203 | 252 |
| S&P 500 | $100 | $100 | $113 | $147 | $164 | $163 |
.
| string | null | s_p_500_retail_index_return = 252
s_p_500_return = 163
answer = s_p_500_retail_index_return - s_p_500_return |
what was the percent of the change in the net earnings from 2004 to 2005 | 44.2000007629 | CodeFinQA | page 74 notes to five year summary ( a ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments ( see the section , 201cresults of operations 201d in management 2019s discussion and analysis of financial condition and results of operations ( md&a ) ) which , on a combined basis , increased earnings from continuing operations before income taxes by $ 173 million , $ 113 million after tax ( $ 0.25 per share ) . ( b ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments ( see the section , 201cresults of operations 201d in md&a ) which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 215 million , $ 154 million after tax ( $ 0.34 per share ) . also includes a reduction in income tax expense resulting from the closure of an internal revenue service examination of $ 144 million ( $ 0.32 per share ) . these items reduced earnings by $ 10 million after tax ( $ 0.02 per share ) . ( c ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments ( see the section , 201cresults of operations 201d in md&a ) which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 153 million , $ 102 million after tax ( $ 0.22 per share ) . ( d ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 1112 million , $ 632 million after tax ( $ 1.40 per share ) . in 2002 , the corporation adopted fas 142 which prohibits the amortization of goodwill . ( e ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 973 million , $ 651 million after tax ( $ 1.50 per share ) . also includes a gain from the disposal of a business and charges for the corporation 2019s exit from its global telecommunications services business which is included in discontinued operations and which , on a combined basis , increased the net loss by $ 1 billion ( $ 2.38 per share ) . ( f ) the corporation defines return on invested capital ( roic ) as net income plus after-tax interest expense divided by average invested capital ( stockholders 2019 equity plus debt ) , after adjusting stockholders 2019 equity by adding back the minimum pension liability . the adjustment to add back the minimum pension liability is a revision to our calculation in 2005 , which the corporation believes more closely links roic to management performance . further , the corporation believes that reporting roic provides investors with greater visibility into how effectively lockheed martin uses the capital invested in its operations . the corporation uses roic to evaluate multi-year investment decisions and as a long-term performance measure , and also uses roic as a factor in evaluating management performance under certain incentive compensation plans . roic is not a measure of financial performance under gaap , and may not be defined and calculated by other companies in the same manner . roic should not be considered in isola- tion or as an alternative to net earnings as an indicator of performance . the following calculations of roic reflect the revision to the calculation discussed above for all periods presented . ( in millions ) 2005 2004 2003 2002 2001 .
| <i>(In millions)</i> | 2005 | 2004 | 2003 | 2002 | 2001 |
| :--- | :--- | :--- | :--- | :--- | :--- |
| Net earnings | $1,825 | $1,266 | $1,053 | $500 | $(1,046) |
| Interest expense (multiplied by 65%)<sup>1</sup> | 241 | 276 | 317 | 378 | 455 |
| Return | $2,066 | $1,542 | $1,370 | $878 | $(591) |
| Average debt<sup>2, 5</sup> | $5,077 | $5,932 | $6,612 | $7,491 | $8,782 |
| Average equity<sup>3, 5</sup> | 7,590 | 7,015 | 6,170 | 6,853 | 7,221 |
| Average minimum pension liability<sup>3, 4, 5</sup> | 1,545 | 1,296 | 1,504 | 341 | 6 |
| Average invested capital | $14,212 | $14,243 | $14,286 | $14,685 | $16,009 |
| Return on invested capital | 14.5% | 10.8% | 9.6% | 6.0% | (3.7)% |
1 represents after-tax interest expense utilizing the federal statutory rate of 35% ( 35 % ) . 2 debt consists of long-term debt , including current maturities , and short-term borrowings ( if any ) . 3 equity includes non-cash adjustments for other comprehensive losses , primarily for the additional minimum pension liability . 4 minimum pension liability values reflect the cumulative value of entries identified in our statement of stockholders equity under the caption 201cminimum pension liability . 201d the annual minimum pension liability adjustments to equity were : 2001 = ( $ 33 million ) ; 2002 = ( $ 1537 million ) ; 2003 = $ 331 million ; 2004 = ( $ 285 million ) ; 2005 = ( $ 105 million ) . as these entries are recorded in the fourth quarter , the value added back to our average equity in a given year is the cumulative impact of all prior year entries plus 20% ( 20 % ) of the cur- rent year entry value . 5 yearly averages are calculated using balances at the start of the year and at the end of each quarter . lockheed martin corporation .
| string | null | net_earnings_2005 = 1825
net_earnings_2004 = 1266
change = net_earnings_2005 - net_earnings_2004
percent_change = change / net_earnings_2004
answer = percent_change * 100 |
what percent of the net change in revenue between 2007 and 2008 was due to volume/weather? | 76.5 | CodeFinQA | entergy louisiana , llc management's financial discussion and analysis 2007 compared to 2006 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 2007 to 2006 . amount ( in millions ) .
| | Amount (In Millions) |
| :--- | :--- |
| 2006 net revenue | $942.1 |
| Base revenues | 78.4 |
| Volume/weather | 37.5 |
| Transmission revenue | 9.2 |
| Purchased power capacity | (80.0) |
| Other | 3.9 |
| 2007 net revenue | $991.1 |
the base revenues variance is primarily due to increases effective september 2006 for the 2005 formula rate plan filing to recover lpsc-approved incremental deferred and ongoing capacity costs . see "state and local rate regulation" below and note 2 to the financial statements for a discussion of the formula rate plan filing . the volume/weather variance is due to increased electricity usage , including electricity sales during the unbilled service period . billed retail electricity usage increased a total of 666 gwh in all sectors compared to 2006 . see "critical accounting estimates" below and note 1 to the financial statements for further discussion of the accounting for unbilled revenues . the transmission revenue variance is primarily due to higher rates . the purchased power capacity variance is primarily due to higher purchased power capacity charges and the amortization of capacity charges effective september 2006 as a result of the formula rate plan filing in may 2006 . a portion of the purchased power capacity costs is offset in base revenues due to a base rate increase implemented to recover incremental deferred and ongoing purchased power capacity charges , as mentioned above . see "state and local rate regulation" below and note 2 to the financial statements for a discussion of the formula rate plan filing . gross operating revenues , fuel , purchased power expenses , and other regulatory charges ( credits ) gross operating revenues increased primarily due to : an increase of $ 143.1 million in fuel cost recovery revenues due to higher fuel rates and usage ; an increase of $ 78.4 million in base revenues , as discussed above ; and an increase of $ 37.5 million related to volume/weather , as discussed above . fuel and purchased power expenses increased primarily due to an increase in net area demand and an increase in deferred fuel expense as a result of higher fuel rates , as discussed above . other regulatory credits decreased primarily due to the deferral of capacity charges in 2006 in addition to the amortization of these capacity charges in 2007 as a result of the may 2006 formula rate plan filing ( for the 2005 test year ) with the lpsc to recover such costs through base rates effective september 2006 . see note 2 to the financial statements for a discussion of the formula rate plan and storm cost recovery filings with the lpsc. .
| string | null | volume_weather_percent = 37.5 / (991.1 - 942.1)
answer = volume_weather_percent * 100 |
what was the percentage of the cash paid for the total premium associated with the exchange for new notes in 2012 | 57.2999992371 | CodeFinQA | as of december 31 , 2013 and 2012 , our liabilities associated with unrecognized tax benefits are not material . we and our subsidiaries file income tax returns in the u.s . federal jurisdiction and various foreign jurisdictions . with few exceptions , the statute of limitations is no longer open for u.s . federal or non-u.s . income tax examinations for the years before 2010 , other than with respect to refunds . u.s . income taxes and foreign withholding taxes have not been provided on earnings of $ 222 million , $ 211 million , and $ 193 million that have not been distributed by our non-u.s . companies as of december 31 , 2013 , 2012 , and 2011 . our intention is to permanently reinvest these earnings , thereby indefinitely postponing their remittance to the u.s . if these earnings were remitted , we estimate that the additional income taxes after foreign tax credits would have been approximately $ 50 million in 2013 , $ 45 million in 2012 , and $ 41 million in 2011 . our federal and foreign income tax payments , net of refunds received , were $ 787 million in 2013 , $ 890 million in 2012 , and $ 722 million in 2011 . our 2013 net payments reflect a $ 550 million refund from the irs primarily attributable to our tax-deductible discretionary pension contributions during the fourth quarter of 2012 ; our 2012 net payments reflect a $ 153 million refund from the irs related to a 2011 capital loss carryback claim ; and our 2011 net payments reflect a $ 250 million refund from the irs related to estimated taxes paid for 2010 . as of december 31 , 2013 and 2012 , we had federal and foreign taxes receivable of $ 313 million and $ 662 million recorded within other current assets on our balance sheet , primarily attributable to our tax-deductible discretionary pension contributions in the fourth quarter of 2013 and 2012 and our debt exchange transaction in the fourth quarter of 2012 . note 9 2013 debt our long-term debt consisted of the following ( in millions ) : .
| | 2013 | 2012 |
| :--- | :--- | :--- |
| Notes with rates from 2.13% to 6.15%, due 2016 to 2042 | $5,642 | $5,642 |
| Notes with rates from 7.00% to 7.75%, due 2016 to 2036 | 916 | 930 |
| Notes with a rate of 7.38%, due 2013 | — | 150 |
| Other debt | 476 | 478 |
| Total long-term debt | 7,034 | 7,200 |
| Less: unamortized discounts | (882) | (892) |
| Total long-term debt, net of unamortized discounts | 6,152 | 6,308 |
| Less: current maturities of long-term debt | — | (150) |
| Total long-term debt, net | $6,152 | $6,158 |
in december 2012 , we issued notes totaling $ 1.3 billion with a fixed interest rate of 4.07% ( 4.07 % ) maturing in december 2042 ( the new notes ) in exchange for outstanding notes totaling $ 1.2 billion with interest rates ranging from 5.50% ( 5.50 % ) to 8.50% ( 8.50 % ) maturing in 2023 to 2040 ( the old notes ) . in connection with the exchange , we paid a premium of $ 393 million , of which $ 225 million was paid in cash and $ 168 million was in the form of new notes . this premium , in addition to $ 194 million in remaining unamortized discounts related to the old notes , will be amortized as additional interest expense over the term of the new notes using the effective interest method . we may , at our option , redeem some or all of the new notes at any time by paying the principal amount of notes being redeemed plus a make-whole premium and accrued and unpaid interest . interest on the new notes is payable on june 15 and december 15 of each year , beginning on june 15 , 2013 . the new notes are unsecured senior obligations and rank equally in right of payment with all of our existing and future unsecured and unsubordinated indebtedness . in september 2011 , we issued $ 2.0 billion of long-term notes in a registered public offering and in october 2011 , we used a portion of the proceeds to redeem all of our $ 500 million long-term notes maturing in 2013 . in 2011 , we repurchased $ 84 million of our long-term notes through open-market purchases . we paid premiums of $ 48 million in connection with the early extinguishments of debt , which were recognized in other non-operating income ( expense ) , net . at december 31 , 2013 and 2012 , we had in place with a group of banks a $ 1.5 billion revolving credit facility that expires in august 2016 . we may request and the banks may grant , at their discretion , an increase to the credit facility by an additional amount up to $ 500 million . there were no borrowings outstanding under the credit facility through december 31 , 2013 . borrowings under the credit facility would be unsecured and bear interest at rates based , at our option , on a eurodollar rate or a base rate , as defined in the credit facility . each bank 2019s obligation to make loans under the credit facility is subject .
| string | null | premium_associated_with_exchange = 225
total_premium = 393
percent_premium = premium_associated_with_exchange / total_premium
answer = percent_premium * 100 |
what percentage of future minimum lease payments under the capital lease obligations is due after 2019? | 24 | CodeFinQA | dish network corporation notes to consolidated financial statements - continued capital lease obligations anik f3 . anik f3 , an fss satellite , was launched and commenced commercial operation during april 2007 . this satellite is accounted for as a capital lease and depreciated over the term of the satellite service agreement . we have leased 100% ( 100 % ) of the ku-band capacity on anik f3 for a period of 15 years . ciel ii . ciel ii , a canadian dbs satellite , was launched in december 2008 and commenced commercial operation during february 2009 . this satellite is accounted for as a capital lease and depreciated over the term of the satellite service agreement . we have leased 100% ( 100 % ) of the capacity on ciel ii for an initial 10 year term . as of december 31 , 2014 and 2013 , we had $ 500 million capitalized for the estimated fair value of satellites acquired under capital leases included in 201cproperty and equipment , net , 201d with related accumulated depreciation of $ 279 million and $ 236 million , respectively . in our consolidated statements of operations and comprehensive income ( loss ) , we recognized $ 43 million , $ 43 million and $ 43 million in depreciation expense on satellites acquired under capital lease agreements during the years ended december 31 , 2014 , 2013 and 2012 , respectively . future minimum lease payments under the capital lease obligations , together with the present value of the net minimum lease payments as of december 31 , 2014 are as follows ( in thousands ) : for the years ended december 31 .
| 2015 | $77,089 |
| :--- | :--- |
| 2016 | 76,809 |
| 2017 | 76,007 |
| 2018 | 75,982 |
| 2019 | 50,331 |
| Thereafter | 112,000 |
| Total minimum lease payments | 468,218 |
| Less: Amount representing lease of the orbital location and estimated executory costs (primarily insurance and maintenance) including profit thereon, included in total minimum lease payments | (220,883) |
| Net minimum lease payments | 247,335 |
| Less: Amount representing interest | (52,421) |
| Present value of net minimum lease payments | 194,914 |
| Less: Current portion | (28,378) |
| Long-term portion of capital lease obligations | $166,536 |
the summary of future maturities of our outstanding long-term debt as of december 31 , 2014 is included in the commitments table in note 16 . 12 . income taxes and accounting for uncertainty in income taxes income taxes our income tax policy is to record the estimated future tax effects of temporary differences between the tax bases of assets and liabilities and amounts reported on our consolidated balance sheets , as well as probable operating loss , tax credit and other carryforwards . deferred tax assets are offset by valuation allowances when we believe it is more likely than not that net deferred tax assets will not be realized . we periodically evaluate our need for a valuation allowance . determining necessary valuation allowances requires us to make assessments about historical financial information as well as the timing of future events , including the probability of expected future taxable income and available tax planning opportunities . we file consolidated tax returns in the u.s . the income taxes of domestic and foreign subsidiaries not included in the u.s . tax group are presented in our consolidated financial statements based on a separate return basis for each tax paying entity. .
| string | null | future_minimum_lease_payments = 112000
total_future_minimum_lease_payments = 468218
percent_future_minimum_lease_payments = future_minimum_lease_payments / total_future_minimum_lease_payments
answer = percent_future_minimum_lease_payments * 100 |
Subsets and Splits