query
stringlengths 26
367
| context
stringlengths 340
16.5k
| output
stringlengths 2
16
| id
stringlengths 20
25
| pre_text
stringlengths 5
8.03k
| post_text
stringlengths 5
8.95k
| table
stringlengths 37
2.9k
| program
stringlengths 9
122
| exe_ans
stringlengths 2
16
|
|---|---|---|---|---|---|---|---|---|
with a similar improvement as in 2010 , what would expected operating ratio be in 2011? | Pre-text: ['2011 , effectively handling the 3% ( 3 % ) increase in carloads .', 'maintenance activities and weather disruptions , combined with higher volume levels , led to a 4% ( 4 % ) decrease in average train speed in 2010 compared to a record set in 2009 .', 'average terminal dwell time 2013 average terminal dwell time is the average time that a rail car spends at our terminals .', 'lower average terminal dwell time improves asset utilization and service .', 'average terminal dwell time increased 3% ( 3 % ) in 2011 compared to 2010 .', 'additional volume , weather challenges , track replacement programs , and a shift of traffic mix to more manifest shipments , which require additional terminal processing , all contributed to the increase .', 'average terminal dwell time increased 2% ( 2 % ) in 2010 compared to 2009 , driven in part by our network plan to increase the length of numerous trains to improve overall efficiency , which resulted in higher terminal dwell time for some cars .', 'average rail car inventory 2013 average rail car inventory is the daily average number of rail cars on our lines , including rail cars in storage .', 'lower average rail car inventory reduces congestion in our yards and sidings , which increases train speed , reduces average terminal dwell time , and improves rail car utilization .', 'average rail car inventory decreased slightly in 2011 compared to 2010 , as we continued to adjust the size of our freight car fleet .', 'average rail car inventory decreased 3% ( 3 % ) in 2010 compared to 2009 , while we handled a 13% ( 13 % ) increase in carloads during the period compared to 2009 .', 'we maintained more freight cars off-line and retired a number of old freight cars , which drove the decrease .', 'gross and revenue ton-miles 2013 gross ton-miles are calculated by multiplying the weight of loaded and empty freight cars by the number of miles hauled .', 'revenue ton-miles are calculated by multiplying the weight of freight by the number of tariff miles .', 'gross and revenue-ton-miles increased 5% ( 5 % ) in 2011 compared to 2010 , driven by a 3% ( 3 % ) increase in carloads and mix changes to heavier commodity groups , notably a 5% ( 5 % ) increase in energy shipments .', 'gross and revenue-ton-miles increased 10% ( 10 % ) and 9% ( 9 % ) , respectively , in 2010 compared to 2009 due to a 13% ( 13 % ) increase in carloads .', 'commodity mix changes ( notably automotive shipments ) drove the variance in year-over-year growth between gross ton-miles , revenue ton-miles and carloads .', 'operating ratio 2013 operating ratio is our operating expenses reflected as a percentage of operating revenue .', 'our operating ratio increased 0.1 points to 70.7% ( 70.7 % ) in 2011 versus 2010 .', 'higher fuel prices , inflation and weather related costs , partially offset by core pricing gains and productivity initiatives , drove the increase .', 'our operating ratio improved 5.5 points to 70.6% ( 70.6 % ) in 2010 and 1.3 points to 76.1% ( 76.1 % ) in 2009 .', 'efficiently leveraging volume increases , core pricing gains , and productivity initiatives drove the improvement in 2010 and more than offset the impact of higher fuel prices during the year .', 'employees 2013 employee levels were up 5% ( 5 % ) in 2011 versus 2010 , driven by a 3% ( 3 % ) increase in volume levels , a higher number of trainmen , engineers , and yard employees receiving training during the year , and increased work on capital projects .', 'employee levels were down 1% ( 1 % ) in 2010 compared to 2009 despite a 13% ( 13 % ) increase in volume levels .', 'we leveraged the additional volumes through network efficiencies and other productivity initiatives .', 'in addition , we successfully managed the growth of our full- time-equivalent train and engine force levels at a rate less than half of our carload growth in 2010 .', 'all other operating functions and support organizations reduced their full-time-equivalent force levels , benefiting from continued productivity initiatives .', 'customer satisfaction index 2013 our customer satisfaction survey asks customers to rate how satisfied they are with our performance over the last 12 months on a variety of attributes .', 'a higher score indicates higher customer satisfaction .', 'we believe that improvement in survey results in 2011 generally reflects customer recognition of our service quality supported by our capital investment program .', 'return on average common shareholders 2019 equity millions , except percentages 2011 2010 2009 .']
Data Table:
========================================
millions except percentages 2011 2010 2009
net income $ 3292 $ 2780 $ 1890
average equity $ 18171 $ 17282 $ 16058
return on average commonshareholders 2019 equity 18.1% ( 18.1 % ) 16.1% ( 16.1 % ) 11.8% ( 11.8 % )
========================================
Additional Information: ['.'] | 0.761 | UNP/2011/page_33.pdf-1 | ['2011 , effectively handling the 3% ( 3 % ) increase in carloads .', 'maintenance activities and weather disruptions , combined with higher volume levels , led to a 4% ( 4 % ) decrease in average train speed in 2010 compared to a record set in 2009 .', 'average terminal dwell time 2013 average terminal dwell time is the average time that a rail car spends at our terminals .', 'lower average terminal dwell time improves asset utilization and service .', 'average terminal dwell time increased 3% ( 3 % ) in 2011 compared to 2010 .', 'additional volume , weather challenges , track replacement programs , and a shift of traffic mix to more manifest shipments , which require additional terminal processing , all contributed to the increase .', 'average terminal dwell time increased 2% ( 2 % ) in 2010 compared to 2009 , driven in part by our network plan to increase the length of numerous trains to improve overall efficiency , which resulted in higher terminal dwell time for some cars .', 'average rail car inventory 2013 average rail car inventory is the daily average number of rail cars on our lines , including rail cars in storage .', 'lower average rail car inventory reduces congestion in our yards and sidings , which increases train speed , reduces average terminal dwell time , and improves rail car utilization .', 'average rail car inventory decreased slightly in 2011 compared to 2010 , as we continued to adjust the size of our freight car fleet .', 'average rail car inventory decreased 3% ( 3 % ) in 2010 compared to 2009 , while we handled a 13% ( 13 % ) increase in carloads during the period compared to 2009 .', 'we maintained more freight cars off-line and retired a number of old freight cars , which drove the decrease .', 'gross and revenue ton-miles 2013 gross ton-miles are calculated by multiplying the weight of loaded and empty freight cars by the number of miles hauled .', 'revenue ton-miles are calculated by multiplying the weight of freight by the number of tariff miles .', 'gross and revenue-ton-miles increased 5% ( 5 % ) in 2011 compared to 2010 , driven by a 3% ( 3 % ) increase in carloads and mix changes to heavier commodity groups , notably a 5% ( 5 % ) increase in energy shipments .', 'gross and revenue-ton-miles increased 10% ( 10 % ) and 9% ( 9 % ) , respectively , in 2010 compared to 2009 due to a 13% ( 13 % ) increase in carloads .', 'commodity mix changes ( notably automotive shipments ) drove the variance in year-over-year growth between gross ton-miles , revenue ton-miles and carloads .', 'operating ratio 2013 operating ratio is our operating expenses reflected as a percentage of operating revenue .', 'our operating ratio increased 0.1 points to 70.7% ( 70.7 % ) in 2011 versus 2010 .', 'higher fuel prices , inflation and weather related costs , partially offset by core pricing gains and productivity initiatives , drove the increase .', 'our operating ratio improved 5.5 points to 70.6% ( 70.6 % ) in 2010 and 1.3 points to 76.1% ( 76.1 % ) in 2009 .', 'efficiently leveraging volume increases , core pricing gains , and productivity initiatives drove the improvement in 2010 and more than offset the impact of higher fuel prices during the year .', 'employees 2013 employee levels were up 5% ( 5 % ) in 2011 versus 2010 , driven by a 3% ( 3 % ) increase in volume levels , a higher number of trainmen , engineers , and yard employees receiving training during the year , and increased work on capital projects .', 'employee levels were down 1% ( 1 % ) in 2010 compared to 2009 despite a 13% ( 13 % ) increase in volume levels .', 'we leveraged the additional volumes through network efficiencies and other productivity initiatives .', 'in addition , we successfully managed the growth of our full- time-equivalent train and engine force levels at a rate less than half of our carload growth in 2010 .', 'all other operating functions and support organizations reduced their full-time-equivalent force levels , benefiting from continued productivity initiatives .', 'customer satisfaction index 2013 our customer satisfaction survey asks customers to rate how satisfied they are with our performance over the last 12 months on a variety of attributes .', 'a higher score indicates higher customer satisfaction .', 'we believe that improvement in survey results in 2011 generally reflects customer recognition of our service quality supported by our capital investment program .', 'return on average common shareholders 2019 equity millions , except percentages 2011 2010 2009 .'] | ['.'] | ========================================
millions except percentages 2011 2010 2009
net income $ 3292 $ 2780 $ 1890
average equity $ 18171 $ 17282 $ 16058
return on average commonshareholders 2019 equity 18.1% ( 18.1 % ) 16.1% ( 16.1 % ) 11.8% ( 11.8 % )
======================================== | divide(5.5, const_100), add(#0, 70.6%) | 0.761 |
what is the square footage of properties in massachusetts?\\n\\n | Context: ['item 2 .', 'properties our principal offices are located in boston , southborough and woburn , massachusetts ; atlanta , georgia ; cary , north carolina ; mexico city , mexico ; and sao paulo , brazil .', 'details of each of these offices are provided below: .']
##########
Data Table:
========================================
location | function | size ( square feet ) | property interest
boston ma | corporate headquarters us tower division headquarters and american tower international headquarters | 19600 | leased
southborough ma | information technology data center | 13900 | leased
woburn ma | us tower division lease administration site leasing management and broadcast division headquarters | 57800 | owned ( 1 )
atlanta ga | us tower division accounting services headquarters | 21400 | leased
cary north carolina | us tower division new site development site operations and structural engineering services headquarters | 17500 | leased
mexico city mexico | mexico headquarters | 11000 | leased
sao paulo brazil | brazil headquarters | 5200 | leased
========================================
##########
Follow-up: ['( 1 ) the facility in woburn contains a total of 163000 square feet of space .', 'approximately 57100 square feet of space is occupied by our lease administration office and our broadcast division , and we lease the remaining space to unaffiliated tenants .', 'in addition to the principal offices set forth above , we maintain 15 regional area offices in the united states through which we operate our tower leasing and services businesses .', 'we believe that our owned and leased facilities are suitable and adequate to meet our anticipated needs .', 'we have also established an office in delhi , india to pursue business opportunities in india and southeast asia , and we have an international business development group based in london , england .', 'our interests in our communications sites are comprised of a variety of ownership interests , including leases created by long-term ground lease agreements , easements , licenses or rights-of-way granted by government entities .', 'pursuant to the loan agreement for the securitization , the tower sites subject to the securitization are subject to mortgages , deeds of trust and deeds to secure the loan .', 'a typical tower site consists of a compound enclosing the tower site , a tower structure , and one or more equipment shelters that house a variety of transmitting , receiving and switching equipment .', 'there are three principal types of towers : guyed , self- supporting lattice , and monopole .', '2022 a guyed tower includes a series of cables attaching separate levels of the tower to anchor foundations in the ground .', 'a guyed tower can reach heights of up to 2000 feet .', 'a guyed tower site for a typical broadcast tower can consist of a tract of land of up to 20 acres .', '2022 a lattice tower typically tapers from the bottom up and usually has three or four legs .', 'a lattice tower can reach heights of up to 1000 feet .', 'depending on the height of the tower , a lattice tower site for a wireless communications tower can consist of a tract of land of 10000 square feet for a rural site or less than 2500 square feet for a metropolitan site .', '2022 a monopole is a tubular structure that is used primarily to address space constraints or aesthetic concerns .', 'monopoles typically have heights ranging from 50 to 200 feet .', 'a monopole tower site of the kind typically used in metropolitan areas for a wireless communications tower can consist of a tract of land of less than 2500 square feet. .'] | 91300.0 | AMT/2007/page_29.pdf-1 | ['item 2 .', 'properties our principal offices are located in boston , southborough and woburn , massachusetts ; atlanta , georgia ; cary , north carolina ; mexico city , mexico ; and sao paulo , brazil .', 'details of each of these offices are provided below: .'] | ['( 1 ) the facility in woburn contains a total of 163000 square feet of space .', 'approximately 57100 square feet of space is occupied by our lease administration office and our broadcast division , and we lease the remaining space to unaffiliated tenants .', 'in addition to the principal offices set forth above , we maintain 15 regional area offices in the united states through which we operate our tower leasing and services businesses .', 'we believe that our owned and leased facilities are suitable and adequate to meet our anticipated needs .', 'we have also established an office in delhi , india to pursue business opportunities in india and southeast asia , and we have an international business development group based in london , england .', 'our interests in our communications sites are comprised of a variety of ownership interests , including leases created by long-term ground lease agreements , easements , licenses or rights-of-way granted by government entities .', 'pursuant to the loan agreement for the securitization , the tower sites subject to the securitization are subject to mortgages , deeds of trust and deeds to secure the loan .', 'a typical tower site consists of a compound enclosing the tower site , a tower structure , and one or more equipment shelters that house a variety of transmitting , receiving and switching equipment .', 'there are three principal types of towers : guyed , self- supporting lattice , and monopole .', '2022 a guyed tower includes a series of cables attaching separate levels of the tower to anchor foundations in the ground .', 'a guyed tower can reach heights of up to 2000 feet .', 'a guyed tower site for a typical broadcast tower can consist of a tract of land of up to 20 acres .', '2022 a lattice tower typically tapers from the bottom up and usually has three or four legs .', 'a lattice tower can reach heights of up to 1000 feet .', 'depending on the height of the tower , a lattice tower site for a wireless communications tower can consist of a tract of land of 10000 square feet for a rural site or less than 2500 square feet for a metropolitan site .', '2022 a monopole is a tubular structure that is used primarily to address space constraints or aesthetic concerns .', 'monopoles typically have heights ranging from 50 to 200 feet .', 'a monopole tower site of the kind typically used in metropolitan areas for a wireless communications tower can consist of a tract of land of less than 2500 square feet. .'] | ========================================
location | function | size ( square feet ) | property interest
boston ma | corporate headquarters us tower division headquarters and american tower international headquarters | 19600 | leased
southborough ma | information technology data center | 13900 | leased
woburn ma | us tower division lease administration site leasing management and broadcast division headquarters | 57800 | owned ( 1 )
atlanta ga | us tower division accounting services headquarters | 21400 | leased
cary north carolina | us tower division new site development site operations and structural engineering services headquarters | 17500 | leased
mexico city mexico | mexico headquarters | 11000 | leased
sao paulo brazil | brazil headquarters | 5200 | leased
======================================== | add(19600, 13900), add(#0, 57800) | 91300.0 |
what are the level 2 significant other observable inputs for the fair value of plan assets as a percentage of quoted prices significant in active other markets for observable identical assets inputs as of december 31 , 2010? | Context: ['1 2 4 n o t e s effective january 1 , 2011 , all u.s .', 'employees , including u.s .', 'legacy bgi employees , will participate in the brsp .', 'all plan assets in the two legacy bgi plans , including the 401k plan and retirement plan ( see below ) , were merged into the brsp on january 1 , 2011 .', 'under the combined brsp , employee contributions of up to 8% ( 8 % ) of eligible compensation , as defined by the plan and subject to irc limitations , will be matched by the company at 50% ( 50 % ) .', 'in addition , the company will continue to make an annual retirement contribution to eligible participants equal to 3-5% ( 3-5 % ) of eligible compensation .', 'blackrock institutional trust company 401 ( k ) savings plan ( formerly the bgi 401 ( k ) savings plan ) the company assumed a 401 ( k ) plan ( the 201cbgi plan 201d ) covering employees of former bgi as a result of the bgi transaction .', 'as part of the bgi plan , employee contributions for participants with at least one year of service were matched at 200% ( 200 % ) of participants 2019 pre-tax contributions up to 2% ( 2 % ) of base salary and overtime , and matched 100% ( 100 % ) of the next 2% ( 2 % ) of base salary and overtime , as defined by the plan and subject to irc limitations .', 'the maximum matching contribution a participant would have received is an amount equal to 6% ( 6 % ) of base salary up to the irc limitations .', 'the bgi plan expense was $ 12 million for the year ended december 31 , 2010 and immaterial to the company 2019s consolidated financial statements for the year ended december 31 , 2009 .', 'effective january 1 , 2011 , the net assets of this plan merged into the brsp .', 'blackrock institutional trust company retirement plan ( formerly the bgi retirement plan ) the company assumed a defined contribution money purchase pension plan ( 201cbgi retirement plan 201d ) as a result of the bgi transaction .', 'all salaried employees of former bgi and its participating affiliates who were u.s .', 'residents on the u.s .', 'payroll were eligible to participate .', 'for participants earning less than $ 100000 in base salary , the company contributed 6% ( 6 % ) of a participant 2019s total compensation ( base salary , overtime and performance bonus ) up to $ 100000 .', 'for participants earning $ 100000 or more in base salary , the company contributed 6% ( 6 % ) of a participant 2019s base salary and overtime up to the irc limita- tion of $ 245000 in 2010 .', 'these contributions were 25% ( 25 % ) vested once the participant has completed two years of service and then vested at a rate of 25% ( 25 % ) for each additional year of service completed .', 'employees with five or more years of service under the retirement plan were 100% ( 100 % ) vested in their entire balance .', 'the retirement plan expense was $ 13 million for the year ended december 31 , 2010 and immaterial to the company 2019s consolidated financial statements for the year ended december 31 , 2009 .', 'effective january 1 , 2011 , the net assets of this plan merged into the brsp .', 'blackrock group personal pension plan blackrock investment management ( uk ) limited ( 201cbim 201d ) , a wholly-owned subsidiary of the company , contributes to the blackrock group personal pension plan , a defined contribution plan for all employees of bim .', 'bim contributes between 6% ( 6 % ) and 15% ( 15 % ) of each employee 2019s eligible compensation .', 'the expense for this plan was $ 22 million , $ 13 million and $ 16 million for the years ended december 31 , 2010 , 2009 and 2008 , respectively .', 'defined benefit plans in 2009 , prior to the bgi transaction , the company had several defined benefit pension plans in japan , germany , luxembourg and jersey .', 'all accrued benefits under these defined benefit plans are currently frozen and the plans are closed to new participants .', 'in 2008 , the defined benefit pension values in luxembourg were transferred into a new defined contribution plan for such employees , removing future liabilities .', 'participant benefits under the plans will not change with salary increases or additional years of service .', 'through the bgi transaction , the company assumed defined benefit pension plans in japan and germany which are closed to new participants .', 'during 2010 , these plans merged into the legacy blackrock plans in japan ( the 201cjapan plan 201d ) and germany .', 'at december 31 , 2010 and 2009 , the plan assets for these plans were approximately $ 19 million and $ 10 million , respectively , and the unfunded obligations were less than $ 6 million and $ 3 million , respectively , which were recorded in accrued compensation and benefits on the consolidated statements of financial condition .', 'benefit payments for the next five years and in aggregate for the five years thereafter are not expected to be material .', 'defined benefit plan assets for the japan plan of approximately $ 16 million are invested using a total return investment approach whereby a mix of equity securities , debt securities and other investments are used to preserve asset values , diversify risk and achieve the target investment return benchmark .', 'investment strategies and asset allocations are based on consideration of plan liabilities and the funded status of the plan .', 'investment performance and asset allocation are measured and monitored on an ongoing basis .', 'the current target allocations for the plan assets are 45-50% ( 45-50 % ) for u.s .', 'and international equity securities , 50-55% ( 50-55 % ) for u.s .', 'and international fixed income securities and 0-5% ( 0-5 % ) for cash and cash equivalents .', 'the table below provides the fair value of the defined benefit japan plan assets at december 31 , 2010 by asset category .', 'the table also identifies the level of inputs used to determine the fair value of assets in each category .', 'quoted prices significant in active other markets for observable identical assets inputs december 31 , ( dollar amounts in millions ) ( level 1 ) ( level 2 ) 2010 .']
----
Tabular Data:
========================================
• ( dollar amounts in millions ), quoted prices inactive marketsfor identical assets ( level 1 ), significant other observable inputs ( level 2 ), december 31 2010
• cash and cash equivalents, $ 9, $ 2014, $ 9
• equity securities, 4, 2014, 4
• fixed income securities, 2014, 3, 3
• fair value of plan assets, $ 13, $ 3, $ 16
========================================
----
Follow-up: ['the assets and unfunded obligation for the defined benefit pension plan in germany and jersey were immaterial to the company 2019s consolidated financial statements at december 31 , 2010 .', 'post-retirement benefit plans prior to the bgi transaction , the company had requirements to deliver post-retirement medical benefits to a closed population based in the united kingdom and through the bgi transaction , the company assumed a post-retirement benefit plan to a closed population of former bgi employees in the united kingdom .', 'for the years ended december 31 , 2010 , 2009 and 2008 , expenses and unfunded obligations for these benefits were immaterial to the company 2019s consolidated financial statements .', 'in addition , through the bgi transaction , the company assumed a requirement to deliver post-retirement medical benefits to a .'] | 0.1875 | BLK/2010/page_126.pdf-1 | ['1 2 4 n o t e s effective january 1 , 2011 , all u.s .', 'employees , including u.s .', 'legacy bgi employees , will participate in the brsp .', 'all plan assets in the two legacy bgi plans , including the 401k plan and retirement plan ( see below ) , were merged into the brsp on january 1 , 2011 .', 'under the combined brsp , employee contributions of up to 8% ( 8 % ) of eligible compensation , as defined by the plan and subject to irc limitations , will be matched by the company at 50% ( 50 % ) .', 'in addition , the company will continue to make an annual retirement contribution to eligible participants equal to 3-5% ( 3-5 % ) of eligible compensation .', 'blackrock institutional trust company 401 ( k ) savings plan ( formerly the bgi 401 ( k ) savings plan ) the company assumed a 401 ( k ) plan ( the 201cbgi plan 201d ) covering employees of former bgi as a result of the bgi transaction .', 'as part of the bgi plan , employee contributions for participants with at least one year of service were matched at 200% ( 200 % ) of participants 2019 pre-tax contributions up to 2% ( 2 % ) of base salary and overtime , and matched 100% ( 100 % ) of the next 2% ( 2 % ) of base salary and overtime , as defined by the plan and subject to irc limitations .', 'the maximum matching contribution a participant would have received is an amount equal to 6% ( 6 % ) of base salary up to the irc limitations .', 'the bgi plan expense was $ 12 million for the year ended december 31 , 2010 and immaterial to the company 2019s consolidated financial statements for the year ended december 31 , 2009 .', 'effective january 1 , 2011 , the net assets of this plan merged into the brsp .', 'blackrock institutional trust company retirement plan ( formerly the bgi retirement plan ) the company assumed a defined contribution money purchase pension plan ( 201cbgi retirement plan 201d ) as a result of the bgi transaction .', 'all salaried employees of former bgi and its participating affiliates who were u.s .', 'residents on the u.s .', 'payroll were eligible to participate .', 'for participants earning less than $ 100000 in base salary , the company contributed 6% ( 6 % ) of a participant 2019s total compensation ( base salary , overtime and performance bonus ) up to $ 100000 .', 'for participants earning $ 100000 or more in base salary , the company contributed 6% ( 6 % ) of a participant 2019s base salary and overtime up to the irc limita- tion of $ 245000 in 2010 .', 'these contributions were 25% ( 25 % ) vested once the participant has completed two years of service and then vested at a rate of 25% ( 25 % ) for each additional year of service completed .', 'employees with five or more years of service under the retirement plan were 100% ( 100 % ) vested in their entire balance .', 'the retirement plan expense was $ 13 million for the year ended december 31 , 2010 and immaterial to the company 2019s consolidated financial statements for the year ended december 31 , 2009 .', 'effective january 1 , 2011 , the net assets of this plan merged into the brsp .', 'blackrock group personal pension plan blackrock investment management ( uk ) limited ( 201cbim 201d ) , a wholly-owned subsidiary of the company , contributes to the blackrock group personal pension plan , a defined contribution plan for all employees of bim .', 'bim contributes between 6% ( 6 % ) and 15% ( 15 % ) of each employee 2019s eligible compensation .', 'the expense for this plan was $ 22 million , $ 13 million and $ 16 million for the years ended december 31 , 2010 , 2009 and 2008 , respectively .', 'defined benefit plans in 2009 , prior to the bgi transaction , the company had several defined benefit pension plans in japan , germany , luxembourg and jersey .', 'all accrued benefits under these defined benefit plans are currently frozen and the plans are closed to new participants .', 'in 2008 , the defined benefit pension values in luxembourg were transferred into a new defined contribution plan for such employees , removing future liabilities .', 'participant benefits under the plans will not change with salary increases or additional years of service .', 'through the bgi transaction , the company assumed defined benefit pension plans in japan and germany which are closed to new participants .', 'during 2010 , these plans merged into the legacy blackrock plans in japan ( the 201cjapan plan 201d ) and germany .', 'at december 31 , 2010 and 2009 , the plan assets for these plans were approximately $ 19 million and $ 10 million , respectively , and the unfunded obligations were less than $ 6 million and $ 3 million , respectively , which were recorded in accrued compensation and benefits on the consolidated statements of financial condition .', 'benefit payments for the next five years and in aggregate for the five years thereafter are not expected to be material .', 'defined benefit plan assets for the japan plan of approximately $ 16 million are invested using a total return investment approach whereby a mix of equity securities , debt securities and other investments are used to preserve asset values , diversify risk and achieve the target investment return benchmark .', 'investment strategies and asset allocations are based on consideration of plan liabilities and the funded status of the plan .', 'investment performance and asset allocation are measured and monitored on an ongoing basis .', 'the current target allocations for the plan assets are 45-50% ( 45-50 % ) for u.s .', 'and international equity securities , 50-55% ( 50-55 % ) for u.s .', 'and international fixed income securities and 0-5% ( 0-5 % ) for cash and cash equivalents .', 'the table below provides the fair value of the defined benefit japan plan assets at december 31 , 2010 by asset category .', 'the table also identifies the level of inputs used to determine the fair value of assets in each category .', 'quoted prices significant in active other markets for observable identical assets inputs december 31 , ( dollar amounts in millions ) ( level 1 ) ( level 2 ) 2010 .'] | ['the assets and unfunded obligation for the defined benefit pension plan in germany and jersey were immaterial to the company 2019s consolidated financial statements at december 31 , 2010 .', 'post-retirement benefit plans prior to the bgi transaction , the company had requirements to deliver post-retirement medical benefits to a closed population based in the united kingdom and through the bgi transaction , the company assumed a post-retirement benefit plan to a closed population of former bgi employees in the united kingdom .', 'for the years ended december 31 , 2010 , 2009 and 2008 , expenses and unfunded obligations for these benefits were immaterial to the company 2019s consolidated financial statements .', 'in addition , through the bgi transaction , the company assumed a requirement to deliver post-retirement medical benefits to a .'] | ========================================
• ( dollar amounts in millions ), quoted prices inactive marketsfor identical assets ( level 1 ), significant other observable inputs ( level 2 ), december 31 2010
• cash and cash equivalents, $ 9, $ 2014, $ 9
• equity securities, 4, 2014, 4
• fixed income securities, 2014, 3, 3
• fair value of plan assets, $ 13, $ 3, $ 16
======================================== | divide(3, 16) | 0.1875 |
considering the foreign exchange contracts , what is the difference between its average during 2008 and 2009? | Background: ['in asset positions , which totaled $ 41.2 million at june 30 , 2009 .', 'to manage this risk , we have established strict counterparty credit guidelines that are continually monitored and reported to management .', 'accordingly , management believes risk of loss under these hedging contracts is remote .', 'certain of our derivative fi nancial instruments contain credit-risk-related contingent features .', 'as of june 30 , 2009 , we were in compliance with such features and there were no derivative financial instruments with credit-risk-related contingent features that were in a net liability position .', 'the est{e lauder companies inc .', '111 market risk we use a value-at-risk model to assess the market risk of our derivative fi nancial instruments .', 'value-at-risk rep resents the potential losses for an instrument or portfolio from adverse changes in market factors for a specifi ed time period and confi dence level .', 'we estimate value- at-risk across all of our derivative fi nancial instruments using a model with historical volatilities and correlations calculated over the past 250-day period .', 'the high , low and average measured value-at-risk for the twelve months ended june 30 , 2009 and 2008 related to our foreign exchange and interest rate contracts are as follows: .']
------
Table:
****************************************
( in millions ) june 30 2009 high june 30 2009 low june 30 2009 average june 30 2009 high june 30 2009 low average
foreign exchange contracts $ 28.4 $ 14.2 $ 21.6 $ 18.8 $ 5.3 $ 11.3
interest rate contracts 34.3 23.0 29.5 28.8 12.6 20.0
****************************************
------
Follow-up: ['the change in the value-at-risk measures from the prior year related to our foreign exchange contracts refl ected an increase in foreign exchange volatilities and a different portfolio mix .', 'the change in the value-at-risk measures from the prior year related to our interest rate contracts refl ected higher interest rate volatilities .', 'the model esti- mates were made assuming normal market conditions and a 95 percent confi dence level .', 'we used a statistical simulation model that valued our derivative fi nancial instruments against one thousand randomly generated market price paths .', 'our calculated value-at-risk exposure represents an esti mate of reasonably possible net losses that would be recognized on our portfolio of derivative fi nancial instru- ments 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 fl uctuations in market rates , operating exposures , and the timing thereof , and changes in our portfolio of derivative fi nancial 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 fi nancial instrument was intended .', 'off-balance sheet arrangements we do not maintain any off-balance sheet arrangements , transactions , obligations or other relationships with unconsolidated entities that would be expected to have a material current or future effect upon our fi nancial condi- tion or results of operations .', 'recently adopted accounting standards in may 2009 , the financial accounting standards board ( 201cfasb 201d ) issued statement of financial accounting standards ( 201csfas 201d ) no .', '165 , 201csubsequent events 201d ( 201csfas no .', '165 201d ) .', 'sfas no .', '165 requires the disclosure of the date through which an entity has evaluated subsequent events for potential recognition or disclosure in the fi nan- cial statements and whether that date represents the date the fi nancial statements were issued or were available to be issued .', 'this standard also provides clarifi cation about circumstances under which an entity should recognize events or transactions occurring after the balance sheet date in its fi nancial statements and the disclosures that an entity should make about events or transactions that occurred after the balance sheet date .', 'this standard is effective for interim and annual periods beginning with our fi scal year ended june 30 , 2009 .', 'the adoption of this standard did not have a material impact on our consoli- dated fi nancial statements .', 'in march 2008 , the fasb issued sfas no .', '161 , 201cdisclosures about derivative instruments and hedging activities 2014 an amendment of fasb statement no .', '133 201d ( 201csfas no .', '161 201d ) .', 'sfas no .', '161 requires companies to provide qualitative disclosures about their objectives and strategies for using derivative instruments , quantitative disclosures of the fair values of , and gains and losses on , these derivative instruments in a tabular format , as well as more information about liquidity by requiring disclosure of a derivative contract 2019s credit-risk-related contingent .'] | 10.3 | EL/2009/page_112.pdf-1 | ['in asset positions , which totaled $ 41.2 million at june 30 , 2009 .', 'to manage this risk , we have established strict counterparty credit guidelines that are continually monitored and reported to management .', 'accordingly , management believes risk of loss under these hedging contracts is remote .', 'certain of our derivative fi nancial instruments contain credit-risk-related contingent features .', 'as of june 30 , 2009 , we were in compliance with such features and there were no derivative financial instruments with credit-risk-related contingent features that were in a net liability position .', 'the est{e lauder companies inc .', '111 market risk we use a value-at-risk model to assess the market risk of our derivative fi nancial instruments .', 'value-at-risk rep resents the potential losses for an instrument or portfolio from adverse changes in market factors for a specifi ed time period and confi dence level .', 'we estimate value- at-risk across all of our derivative fi nancial instruments using a model with historical volatilities and correlations calculated over the past 250-day period .', 'the high , low and average measured value-at-risk for the twelve months ended june 30 , 2009 and 2008 related to our foreign exchange and interest rate contracts are as follows: .'] | ['the change in the value-at-risk measures from the prior year related to our foreign exchange contracts refl ected an increase in foreign exchange volatilities and a different portfolio mix .', 'the change in the value-at-risk measures from the prior year related to our interest rate contracts refl ected higher interest rate volatilities .', 'the model esti- mates were made assuming normal market conditions and a 95 percent confi dence level .', 'we used a statistical simulation model that valued our derivative fi nancial instruments against one thousand randomly generated market price paths .', 'our calculated value-at-risk exposure represents an esti mate of reasonably possible net losses that would be recognized on our portfolio of derivative fi nancial instru- ments 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 fl uctuations in market rates , operating exposures , and the timing thereof , and changes in our portfolio of derivative fi nancial 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 fi nancial instrument was intended .', 'off-balance sheet arrangements we do not maintain any off-balance sheet arrangements , transactions , obligations or other relationships with unconsolidated entities that would be expected to have a material current or future effect upon our fi nancial condi- tion or results of operations .', 'recently adopted accounting standards in may 2009 , the financial accounting standards board ( 201cfasb 201d ) issued statement of financial accounting standards ( 201csfas 201d ) no .', '165 , 201csubsequent events 201d ( 201csfas no .', '165 201d ) .', 'sfas no .', '165 requires the disclosure of the date through which an entity has evaluated subsequent events for potential recognition or disclosure in the fi nan- cial statements and whether that date represents the date the fi nancial statements were issued or were available to be issued .', 'this standard also provides clarifi cation about circumstances under which an entity should recognize events or transactions occurring after the balance sheet date in its fi nancial statements and the disclosures that an entity should make about events or transactions that occurred after the balance sheet date .', 'this standard is effective for interim and annual periods beginning with our fi scal year ended june 30 , 2009 .', 'the adoption of this standard did not have a material impact on our consoli- dated fi nancial statements .', 'in march 2008 , the fasb issued sfas no .', '161 , 201cdisclosures about derivative instruments and hedging activities 2014 an amendment of fasb statement no .', '133 201d ( 201csfas no .', '161 201d ) .', 'sfas no .', '161 requires companies to provide qualitative disclosures about their objectives and strategies for using derivative instruments , quantitative disclosures of the fair values of , and gains and losses on , these derivative instruments in a tabular format , as well as more information about liquidity by requiring disclosure of a derivative contract 2019s credit-risk-related contingent .'] | ****************************************
( in millions ) june 30 2009 high june 30 2009 low june 30 2009 average june 30 2009 high june 30 2009 low average
foreign exchange contracts $ 28.4 $ 14.2 $ 21.6 $ 18.8 $ 5.3 $ 11.3
interest rate contracts 34.3 23.0 29.5 28.8 12.6 20.0
**************************************** | subtract(21.6, 11.3) | 10.3 |
what is the total interest expense for the year ending on may 27 , 2012 , ( in millions ) | Context: ['62 general mills amounts recorded in accumulated other comprehensive loss unrealized losses from interest rate cash flow hedges recorded in aoci as of may 27 , 2012 , totaled $ 73.6 million after tax .', 'these deferred losses are primarily related to interest rate swaps that we entered into in contemplation of future borrowings and other financ- ing requirements and that are being reclassified into net interest over the lives of the hedged forecasted transac- tions .', 'unrealized losses from foreign currency cash flow hedges recorded in aoci as of may 27 , 2012 , were $ 1.7 million after-tax .', 'the net amount of pre-tax gains and losses in aoci as of may 27 , 2012 , that we expect to be reclassified into net earnings within the next 12 months is $ 14.0 million of expense .', 'credit-risk-related contingent features certain of our derivative instruments contain provisions that require us to maintain an investment grade credit rating on our debt from each of the major credit rat- ing agencies .', 'if our debt were to fall below investment grade , the counterparties to the derivative instruments could request full collateralization on derivative instru- ments in net liability positions .', 'the aggregate fair value of all derivative instruments with credit-risk-related contingent features that were in a liability position on may 27 , 2012 , was $ 19.9 million .', 'we have posted col- lateral of $ 4.3 million in the normal course of business associated with these contracts .', 'if the credit-risk-related contingent features underlying these agreements had been triggered on may 27 , 2012 , we would have been required to post an additional $ 15.6 million of collateral to counterparties .', 'concentrations of credit and counterparty credit risk during fiscal 2012 , wal-mart stores , inc .', 'and its affili- ates ( wal-mart ) accounted for 22 percent of our con- solidated net sales and 30 percent of our net sales in the u.s .', 'retail segment .', 'no other customer accounted for 10 percent or more of our consolidated net sales .', 'wal- mart also represented 6 percent of our net sales in the international segment and 7 percent of our net sales in the bakeries and foodservice segment .', 'as of may 27 , 2012 , wal-mart accounted for 26 percent of our u.s .', 'retail receivables , 5 percent of our international receiv- ables , and 9 percent of our bakeries and foodservice receivables .', 'the five largest customers in our u.s .', 'retail segment accounted for 54 percent of its fiscal 2012 net sales , the five largest customers in our international segment accounted for 26 percent of its fiscal 2012 net sales , and the five largest customers in our bakeries and foodservice segment accounted for 46 percent of its fis- cal 2012 net sales .', 'we enter into interest rate , foreign exchange , and cer- tain commodity and equity derivatives , primarily with a diversified group of highly rated counterparties .', 'we continually monitor our positions and the credit rat- ings of the counterparties involved and , by policy , limit the amount of credit exposure to any one party .', 'these transactions may expose us to potential losses due to the risk of nonperformance by these counterparties ; however , we have not incurred a material loss .', 'we also enter into commodity futures transactions through vari- ous regulated exchanges .', 'the amount of loss due to the credit risk of the coun- terparties , should the counterparties fail to perform according to the terms of the contracts , is $ 19.5 million against which we do not hold collateral .', 'under the terms of master swap agreements , some of our transactions require collateral or other security to support financial instruments subject to threshold levels of exposure and counterparty credit risk .', 'collateral assets are either cash or u.s .', 'treasury instruments and are held in a trust account that we may access if the counterparty defaults .', 'note 8 .', 'debt notes payable the components of notes payable and their respective weighted-average interest rates at the end of the periods were as follows: .']
########
Tabular Data:
----------------------------------------
Row 1: in millions, may 27 2012 notes payable, may 27 2012 weighted- average interest rate, may 27 2012 notespayable, weighted-averageinterest rate
Row 2: u.s . commercial paper, $ 412.0, 0.2% ( 0.2 % ), $ 192.5, 0.2% ( 0.2 % )
Row 3: financial institutions, 114.5, 10.0, 118.8, 11.5
Row 4: total, $ 526.5, 2.4% ( 2.4 % ), $ 311.3, 4.5% ( 4.5 % )
----------------------------------------
########
Post-table: ['to ensure availability of funds , we maintain bank credit lines sufficient to cover our outstanding short- term borrowings .', 'commercial paper is a continuing source of short-term financing .', 'we have commercial paper programs available to us in the united states and europe .', 'in april 2012 , we entered into fee-paid commit- ted credit lines , consisting of a $ 1.0 billion facility sched- uled to expire in april 2015 and a $ 1.7 billion facility .'] | 12.636 | GIS/2012/page_64.pdf-1 | ['62 general mills amounts recorded in accumulated other comprehensive loss unrealized losses from interest rate cash flow hedges recorded in aoci as of may 27 , 2012 , totaled $ 73.6 million after tax .', 'these deferred losses are primarily related to interest rate swaps that we entered into in contemplation of future borrowings and other financ- ing requirements and that are being reclassified into net interest over the lives of the hedged forecasted transac- tions .', 'unrealized losses from foreign currency cash flow hedges recorded in aoci as of may 27 , 2012 , were $ 1.7 million after-tax .', 'the net amount of pre-tax gains and losses in aoci as of may 27 , 2012 , that we expect to be reclassified into net earnings within the next 12 months is $ 14.0 million of expense .', 'credit-risk-related contingent features certain of our derivative instruments contain provisions that require us to maintain an investment grade credit rating on our debt from each of the major credit rat- ing agencies .', 'if our debt were to fall below investment grade , the counterparties to the derivative instruments could request full collateralization on derivative instru- ments in net liability positions .', 'the aggregate fair value of all derivative instruments with credit-risk-related contingent features that were in a liability position on may 27 , 2012 , was $ 19.9 million .', 'we have posted col- lateral of $ 4.3 million in the normal course of business associated with these contracts .', 'if the credit-risk-related contingent features underlying these agreements had been triggered on may 27 , 2012 , we would have been required to post an additional $ 15.6 million of collateral to counterparties .', 'concentrations of credit and counterparty credit risk during fiscal 2012 , wal-mart stores , inc .', 'and its affili- ates ( wal-mart ) accounted for 22 percent of our con- solidated net sales and 30 percent of our net sales in the u.s .', 'retail segment .', 'no other customer accounted for 10 percent or more of our consolidated net sales .', 'wal- mart also represented 6 percent of our net sales in the international segment and 7 percent of our net sales in the bakeries and foodservice segment .', 'as of may 27 , 2012 , wal-mart accounted for 26 percent of our u.s .', 'retail receivables , 5 percent of our international receiv- ables , and 9 percent of our bakeries and foodservice receivables .', 'the five largest customers in our u.s .', 'retail segment accounted for 54 percent of its fiscal 2012 net sales , the five largest customers in our international segment accounted for 26 percent of its fiscal 2012 net sales , and the five largest customers in our bakeries and foodservice segment accounted for 46 percent of its fis- cal 2012 net sales .', 'we enter into interest rate , foreign exchange , and cer- tain commodity and equity derivatives , primarily with a diversified group of highly rated counterparties .', 'we continually monitor our positions and the credit rat- ings of the counterparties involved and , by policy , limit the amount of credit exposure to any one party .', 'these transactions may expose us to potential losses due to the risk of nonperformance by these counterparties ; however , we have not incurred a material loss .', 'we also enter into commodity futures transactions through vari- ous regulated exchanges .', 'the amount of loss due to the credit risk of the coun- terparties , should the counterparties fail to perform according to the terms of the contracts , is $ 19.5 million against which we do not hold collateral .', 'under the terms of master swap agreements , some of our transactions require collateral or other security to support financial instruments subject to threshold levels of exposure and counterparty credit risk .', 'collateral assets are either cash or u.s .', 'treasury instruments and are held in a trust account that we may access if the counterparty defaults .', 'note 8 .', 'debt notes payable the components of notes payable and their respective weighted-average interest rates at the end of the periods were as follows: .'] | ['to ensure availability of funds , we maintain bank credit lines sufficient to cover our outstanding short- term borrowings .', 'commercial paper is a continuing source of short-term financing .', 'we have commercial paper programs available to us in the united states and europe .', 'in april 2012 , we entered into fee-paid commit- ted credit lines , consisting of a $ 1.0 billion facility sched- uled to expire in april 2015 and a $ 1.7 billion facility .'] | ----------------------------------------
Row 1: in millions, may 27 2012 notes payable, may 27 2012 weighted- average interest rate, may 27 2012 notespayable, weighted-averageinterest rate
Row 2: u.s . commercial paper, $ 412.0, 0.2% ( 0.2 % ), $ 192.5, 0.2% ( 0.2 % )
Row 3: financial institutions, 114.5, 10.0, 118.8, 11.5
Row 4: total, $ 526.5, 2.4% ( 2.4 % ), $ 311.3, 4.5% ( 4.5 % )
---------------------------------------- | multiply(526.5, 2.4%) | 12.636 |
how much did cash cash equivalents and marketable securities increase from 2008 to 2010? | Pre-text: ['table of contents 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 .', 'the lower effective tax rate in 2010 as compared to 2009 is due primarily to an increase in foreign earnings on which u.s .', 'income taxes have not been provided as such earnings are intended to be indefinitely reinvested outside the u.s .', 'as of september 25 , 2010 , the company had deferred tax assets arising from deductible temporary differences , tax losses , and tax credits of $ 2.4 billion , and deferred tax liabilities of $ 5.0 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 .', 'during the third quarter of 2010 , the company reached a tax settlement with the irs for the years 2002 through 2003 .', 'in addition , the company is subject to audits by state , local , and foreign tax authorities .', 'management believes that adequate provision has 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 three years ended september 25 , 2010 ( in millions ) : as of september 25 , 2010 , the company had $ 51 billion in cash , cash equivalents and marketable securities , an increase of $ 17 billion from september 26 , 2009 .', 'the principal component of this net increase was the cash generated by operating activities of $ 18.6 billion , which was partially offset by payments for acquisition of property , plant and equipment of $ 2 billion and payments made in connection with business acquisitions , net of cash acquired , of $ 638 million .', 'the company 2019s marketable securities investment portfolio is invested primarily in highly rated securities , generally with a minimum rating of single-a or equivalent .', 'as of september 25 , 2010 and september 26 , 2009 , $ 30.8 billion and $ 17.4 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 .', '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 and other liquidity requirements associated with its existing operations over the next 12 months. .']
##########
Data Table:
Row 1: , 2010, 2009, 2008
Row 2: cash cash equivalents and marketable securities, $ 51011, $ 33992, $ 24490
Row 3: accounts receivable net, $ 5510, $ 3361, $ 2422
Row 4: inventories, $ 1051, $ 455, $ 509
Row 5: working capital, $ 20956, $ 20049, $ 18645
Row 6: annual operating cash flow, $ 18595, $ 10159, $ 9596
##########
Post-table: ['.'] | 1.08293 | AAPL/2010/page_43.pdf-3 | ['table of contents 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 .', 'the lower effective tax rate in 2010 as compared to 2009 is due primarily to an increase in foreign earnings on which u.s .', 'income taxes have not been provided as such earnings are intended to be indefinitely reinvested outside the u.s .', 'as of september 25 , 2010 , the company had deferred tax assets arising from deductible temporary differences , tax losses , and tax credits of $ 2.4 billion , and deferred tax liabilities of $ 5.0 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 .', 'during the third quarter of 2010 , the company reached a tax settlement with the irs for the years 2002 through 2003 .', 'in addition , the company is subject to audits by state , local , and foreign tax authorities .', 'management believes that adequate provision has 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 three years ended september 25 , 2010 ( in millions ) : as of september 25 , 2010 , the company had $ 51 billion in cash , cash equivalents and marketable securities , an increase of $ 17 billion from september 26 , 2009 .', 'the principal component of this net increase was the cash generated by operating activities of $ 18.6 billion , which was partially offset by payments for acquisition of property , plant and equipment of $ 2 billion and payments made in connection with business acquisitions , net of cash acquired , of $ 638 million .', 'the company 2019s marketable securities investment portfolio is invested primarily in highly rated securities , generally with a minimum rating of single-a or equivalent .', 'as of september 25 , 2010 and september 26 , 2009 , $ 30.8 billion and $ 17.4 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 .', '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 and other liquidity requirements associated with its existing operations over the next 12 months. .'] | ['.'] | Row 1: , 2010, 2009, 2008
Row 2: cash cash equivalents and marketable securities, $ 51011, $ 33992, $ 24490
Row 3: accounts receivable net, $ 5510, $ 3361, $ 2422
Row 4: inventories, $ 1051, $ 455, $ 509
Row 5: working capital, $ 20956, $ 20049, $ 18645
Row 6: annual operating cash flow, $ 18595, $ 10159, $ 9596 | subtract(51011, 24490), divide(#0, 24490) | 1.08293 |
what percent of total contractual obligations in 2010 are made up of long-term debt obligations? | Background: ['contractual obligations the following table includes aggregated information about citigroup 2019s contractual obligations that impact its short- and long-term liquidity and capital needs .', 'the table includes information about payments due under specified contractual obligations , aggregated by type of contractual obligation .', 'it includes the maturity profile of citigroup 2019s consolidated long-term debt , leases and other long-term liabilities .', 'citigroup 2019s contractual obligations include purchase obligations that are enforceable and legally binding for citi .', 'for the purposes of the table below , purchase obligations are included through the termination date of the respective agreements , even if the contract is renewable .', 'many of the purchase agreements for goods or services include clauses that would allow citigroup to cancel the agreement with specified notice ; however , that impact is not included in the table ( unless citigroup has already notified the counterparty of its intention to terminate the agreement ) .', 'other liabilities reflected on citigroup 2019s consolidated balance sheet include obligations for goods and services that have already been received , uncertain tax positions , as well as other long-term liabilities that have been incurred and will ultimately be paid in cash .', 'excluded from the following table are obligations that are generally short-term in nature , including deposit liabilities and securities sold under agreements to repurchase .', 'the table also excludes certain insurance and investment contracts subject to mortality and morbidity risks or without defined maturities , such that the timing of payments and withdrawals is uncertain .', 'the liabilities related to these insurance and investment contracts are included on the consolidated balance sheet as insurance policy and claims reserves , contractholder funds , and separate and variable accounts .', 'citigroup 2019s funding policy for pension plans is generally to fund to the minimum amounts required by the applicable laws and regulations .', 'at december 31 , 2009 , there were no minimum required contributions , and no contributions are currently planned for the u.s .', 'pension plans .', 'accordingly , no amounts have been included in the table below for future contributions to the u.s .', 'pension plans .', 'for the non-u.s .', 'pension plans , discretionary contributions in 2010 are anticipated to be approximately $ 160 million .', 'the anticipated cash contributions in 2010 related to the non-u.s .', 'postretirement benefit plans are $ 72 million .', 'these amounts are included in the purchase obligations in the table below .', 'the estimated pension and postretirement plan contributions are subject to change , since contribution decisions are affected by various factors , such as market performance , regulatory and legal requirements , and management 2019s ability to change funding policy .', 'for additional information regarding citi 2019s retirement benefit obligations , see note 9 to the consolidated financial statements. .']
######
Tabular Data:
****************************************
in millions of dollars at year end | contractual obligations by year 2010 | contractual obligations by year 2011 | contractual obligations by year 2012 | contractual obligations by year 2013 | contractual obligations by year 2014 | contractual obligations by year thereafter
long-term debt obligations ( 1 ) | $ 47162 | $ 59656 | $ 69344 | $ 28132 | $ 34895 | $ 124830
lease obligations | 1247 | 1110 | 1007 | 900 | 851 | 2770
purchase obligations | 1032 | 446 | 331 | 267 | 258 | 783
other long-term liabilities reflected on citi 2019s consolidated balance sheet ( 2 ) | 34218 | 156 | 36 | 35 | 36 | 3009
total | $ 83659 | $ 61368 | $ 70718 | $ 29334 | $ 36040 | $ 131392
****************************************
######
Follow-up: ['( 1 ) for additional information about long-term debt and trust preferred securities , see note 20 to the consolidated financial statements .', '( 2 ) relates primarily to accounts payable and accrued expenses included in other liabilities in citi 2019s consolidated balance sheet. .'] | 0.56374 | C/2009/page_63.pdf-2 | ['contractual obligations the following table includes aggregated information about citigroup 2019s contractual obligations that impact its short- and long-term liquidity and capital needs .', 'the table includes information about payments due under specified contractual obligations , aggregated by type of contractual obligation .', 'it includes the maturity profile of citigroup 2019s consolidated long-term debt , leases and other long-term liabilities .', 'citigroup 2019s contractual obligations include purchase obligations that are enforceable and legally binding for citi .', 'for the purposes of the table below , purchase obligations are included through the termination date of the respective agreements , even if the contract is renewable .', 'many of the purchase agreements for goods or services include clauses that would allow citigroup to cancel the agreement with specified notice ; however , that impact is not included in the table ( unless citigroup has already notified the counterparty of its intention to terminate the agreement ) .', 'other liabilities reflected on citigroup 2019s consolidated balance sheet include obligations for goods and services that have already been received , uncertain tax positions , as well as other long-term liabilities that have been incurred and will ultimately be paid in cash .', 'excluded from the following table are obligations that are generally short-term in nature , including deposit liabilities and securities sold under agreements to repurchase .', 'the table also excludes certain insurance and investment contracts subject to mortality and morbidity risks or without defined maturities , such that the timing of payments and withdrawals is uncertain .', 'the liabilities related to these insurance and investment contracts are included on the consolidated balance sheet as insurance policy and claims reserves , contractholder funds , and separate and variable accounts .', 'citigroup 2019s funding policy for pension plans is generally to fund to the minimum amounts required by the applicable laws and regulations .', 'at december 31 , 2009 , there were no minimum required contributions , and no contributions are currently planned for the u.s .', 'pension plans .', 'accordingly , no amounts have been included in the table below for future contributions to the u.s .', 'pension plans .', 'for the non-u.s .', 'pension plans , discretionary contributions in 2010 are anticipated to be approximately $ 160 million .', 'the anticipated cash contributions in 2010 related to the non-u.s .', 'postretirement benefit plans are $ 72 million .', 'these amounts are included in the purchase obligations in the table below .', 'the estimated pension and postretirement plan contributions are subject to change , since contribution decisions are affected by various factors , such as market performance , regulatory and legal requirements , and management 2019s ability to change funding policy .', 'for additional information regarding citi 2019s retirement benefit obligations , see note 9 to the consolidated financial statements. .'] | ['( 1 ) for additional information about long-term debt and trust preferred securities , see note 20 to the consolidated financial statements .', '( 2 ) relates primarily to accounts payable and accrued expenses included in other liabilities in citi 2019s consolidated balance sheet. .'] | ****************************************
in millions of dollars at year end | contractual obligations by year 2010 | contractual obligations by year 2011 | contractual obligations by year 2012 | contractual obligations by year 2013 | contractual obligations by year 2014 | contractual obligations by year thereafter
long-term debt obligations ( 1 ) | $ 47162 | $ 59656 | $ 69344 | $ 28132 | $ 34895 | $ 124830
lease obligations | 1247 | 1110 | 1007 | 900 | 851 | 2770
purchase obligations | 1032 | 446 | 331 | 267 | 258 | 783
other long-term liabilities reflected on citi 2019s consolidated balance sheet ( 2 ) | 34218 | 156 | 36 | 35 | 36 | 3009
total | $ 83659 | $ 61368 | $ 70718 | $ 29334 | $ 36040 | $ 131392
**************************************** | divide(47162, 83659) | 0.56374 |
what is the net change in cash during 2017? | Pre-text: ['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: .']
--
Tabular Data:
========================================
( in millions ) | 2018 | 2017 | 2016
----------|----------|----------|----------
operating activities | $ 1762 | $ -799 ( 799 ) | $ 262
investing activities | -578 ( 578 ) | -4123 ( 4123 ) | -472 ( 472 )
financing activities | -4363 ( 4363 ) | 10919 | -102 ( 102 )
========================================
--
Follow-up: ['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 .'] | 5997.0 | BKR/2018/page_59.pdf-3 | ['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: .'] | ['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 .'] | ========================================
( in millions ) | 2018 | 2017 | 2016
----------|----------|----------|----------
operating activities | $ 1762 | $ -799 ( 799 ) | $ 262
investing activities | -578 ( 578 ) | -4123 ( 4123 ) | -472 ( 472 )
financing activities | -4363 ( 4363 ) | 10919 | -102 ( 102 )
======================================== | add(-799, -4123), add(#0, 10919) | 5997.0 |
in the fourth quarter of 2018 what was the percent of the shares bought in december | Context: ['the pnc financial services group , inc .', '2013 form 10-k 29 part ii item 5 2013 market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities ( a ) ( 1 ) our common stock is listed on the new york stock exchange and is traded under the symbol 201cpnc . 201d at the close of business on february 15 , 2019 , there were 53986 common shareholders of record .', 'holders of pnc common stock are entitled to receive dividends when declared by our board of directors out of funds legally available for this purpose .', 'our board of directors may not pay or set apart dividends on the common stock until dividends for all past dividend periods on any series of outstanding preferred stock and certain outstanding capital securities issued by the parent company have been paid or declared and set apart for payment .', 'the board of directors presently intends to continue the policy of paying quarterly cash dividends .', 'the amount of any future dividends will depend on economic and market conditions , our financial condition and operating results , and other factors , including contractual restrictions and applicable government regulations and policies ( such as those relating to the ability of bank and non-bank subsidiaries to pay dividends to the parent company and regulatory capital limitations ) .', 'the amount of our dividend is also currently subject to the results of the supervisory assessment of capital adequacy and capital planning processes undertaken by the federal reserve and our primary bank regulators as part of the comprehensive capital analysis and review ( ccar ) process as described in the supervision and regulation section in item 1 of this report .', 'the federal reserve has the power to prohibit us from paying dividends without its approval .', 'for further information concerning dividend restrictions and other factors that could limit our ability to pay dividends , as well as restrictions on loans , dividends or advances from bank subsidiaries to the parent company , see the supervision and regulation section in item 1 , item 1a risk factors , the liquidity and capital management portion of the risk management section in item 7 , and note 10 borrowed funds , note 15 equity and note 18 regulatory matters in the notes to consolidated financial statements in item 8 of this report , which we include here by reference .', 'we include here by reference the information regarding our compensation plans under which pnc equity securities are authorized for issuance as of december 31 , 2018 in the table ( with introductory paragraph and notes ) in item 12 of this report .', 'our stock transfer agent and registrar is : computershare trust company , n.a .', '250 royall street canton , ma 02021 800-982-7652 www.computershare.com/pnc registered shareholders may contact computershare regarding dividends and other shareholder services .', 'we include here by reference the information that appears under the common stock performance graph caption at the end of this item 5 .', '( a ) ( 2 ) none .', '( b ) not applicable .', '( c ) details of our repurchases of pnc common stock during the fourth quarter of 2018 are included in the following table : in thousands , except per share data 2018 period total shares purchased ( a ) average price paid per share total shares purchased as part of publicly announced programs ( b ) maximum number of shares that may yet be purchased under the programs ( b ) .']
Data Table:
----------------------------------------
2018 period | total shares purchased ( a ) | average price paid per share | total shares purchased as part of publicly announced programs ( b ) | maximum number of shares that may yet be purchased under the programs ( b )
----------|----------|----------|----------|----------
october 1 2013 31 | 1204 | $ 128.43 | 1189 | 25663
november 1 2013 30 | 1491 | $ 133.79 | 1491 | 24172
december 1 2013 31 | 3458 | $ 119.43 | 3458 | 20714
total | 6153 | $ 124.67 | |
----------------------------------------
Additional Information: ['( a ) includes pnc common stock purchased in connection with our various employee benefit plans generally related to forfeitures of unvested restricted stock awards and shares used to cover employee payroll tax withholding requirements .', 'note 11 employee benefit plans and note 12 stock based compensation plans in the notes to consolidated financial statements in item 8 of this report include additional information regarding our employee benefit and equity compensation plans that use pnc common stock .', '( b ) on march 11 , 2015 , we announced that our board of directors approved a stock repurchase program authorization in the amount of 100 million shares of pnc common stock , effective april 1 , 2015 .', 'repurchases are made in open market or privately negotiated transactions and the timing and exact amount of common stock repurchases will depend on a number of factors including , among others , market and general economic conditions , regulatory capital considerations , alternative uses of capital , the potential impact on our credit ratings , and contractual and regulatory limitations , including the results of the supervisory assessment of capital adequacy and capital planning processes undertaken by the federal reserve as part of the ccar process .', "in june 2018 , we announced share repurchase programs of up to $ 2.0 billion for the four quarter period beginning with the third quarter of 2018 , including repurchases of up to $ 300 million related to stock issuances under employee benefit plans , in accordance with pnc's 2018 capital plan .", 'in november 2018 , we announced an increase to these previously announced programs in the amount of up to $ 900 million in additional common share repurchases .', 'the aggregate repurchase price of shares repurchased during the fourth quarter of 2018 was $ .8 billion .', 'see the liquidity and capital management portion of the risk management section in item 7 of this report for more information on the authorized share repurchase programs for the period july 1 , 2018 through june 30 , 2019 .', 'http://www.computershare.com/pnc .'] | 0.562 | PNC/2018/page_45.pdf-3 | ['the pnc financial services group , inc .', '2013 form 10-k 29 part ii item 5 2013 market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities ( a ) ( 1 ) our common stock is listed on the new york stock exchange and is traded under the symbol 201cpnc . 201d at the close of business on february 15 , 2019 , there were 53986 common shareholders of record .', 'holders of pnc common stock are entitled to receive dividends when declared by our board of directors out of funds legally available for this purpose .', 'our board of directors may not pay or set apart dividends on the common stock until dividends for all past dividend periods on any series of outstanding preferred stock and certain outstanding capital securities issued by the parent company have been paid or declared and set apart for payment .', 'the board of directors presently intends to continue the policy of paying quarterly cash dividends .', 'the amount of any future dividends will depend on economic and market conditions , our financial condition and operating results , and other factors , including contractual restrictions and applicable government regulations and policies ( such as those relating to the ability of bank and non-bank subsidiaries to pay dividends to the parent company and regulatory capital limitations ) .', 'the amount of our dividend is also currently subject to the results of the supervisory assessment of capital adequacy and capital planning processes undertaken by the federal reserve and our primary bank regulators as part of the comprehensive capital analysis and review ( ccar ) process as described in the supervision and regulation section in item 1 of this report .', 'the federal reserve has the power to prohibit us from paying dividends without its approval .', 'for further information concerning dividend restrictions and other factors that could limit our ability to pay dividends , as well as restrictions on loans , dividends or advances from bank subsidiaries to the parent company , see the supervision and regulation section in item 1 , item 1a risk factors , the liquidity and capital management portion of the risk management section in item 7 , and note 10 borrowed funds , note 15 equity and note 18 regulatory matters in the notes to consolidated financial statements in item 8 of this report , which we include here by reference .', 'we include here by reference the information regarding our compensation plans under which pnc equity securities are authorized for issuance as of december 31 , 2018 in the table ( with introductory paragraph and notes ) in item 12 of this report .', 'our stock transfer agent and registrar is : computershare trust company , n.a .', '250 royall street canton , ma 02021 800-982-7652 www.computershare.com/pnc registered shareholders may contact computershare regarding dividends and other shareholder services .', 'we include here by reference the information that appears under the common stock performance graph caption at the end of this item 5 .', '( a ) ( 2 ) none .', '( b ) not applicable .', '( c ) details of our repurchases of pnc common stock during the fourth quarter of 2018 are included in the following table : in thousands , except per share data 2018 period total shares purchased ( a ) average price paid per share total shares purchased as part of publicly announced programs ( b ) maximum number of shares that may yet be purchased under the programs ( b ) .'] | ['( a ) includes pnc common stock purchased in connection with our various employee benefit plans generally related to forfeitures of unvested restricted stock awards and shares used to cover employee payroll tax withholding requirements .', 'note 11 employee benefit plans and note 12 stock based compensation plans in the notes to consolidated financial statements in item 8 of this report include additional information regarding our employee benefit and equity compensation plans that use pnc common stock .', '( b ) on march 11 , 2015 , we announced that our board of directors approved a stock repurchase program authorization in the amount of 100 million shares of pnc common stock , effective april 1 , 2015 .', 'repurchases are made in open market or privately negotiated transactions and the timing and exact amount of common stock repurchases will depend on a number of factors including , among others , market and general economic conditions , regulatory capital considerations , alternative uses of capital , the potential impact on our credit ratings , and contractual and regulatory limitations , including the results of the supervisory assessment of capital adequacy and capital planning processes undertaken by the federal reserve as part of the ccar process .', "in june 2018 , we announced share repurchase programs of up to $ 2.0 billion for the four quarter period beginning with the third quarter of 2018 , including repurchases of up to $ 300 million related to stock issuances under employee benefit plans , in accordance with pnc's 2018 capital plan .", 'in november 2018 , we announced an increase to these previously announced programs in the amount of up to $ 900 million in additional common share repurchases .', 'the aggregate repurchase price of shares repurchased during the fourth quarter of 2018 was $ .8 billion .', 'see the liquidity and capital management portion of the risk management section in item 7 of this report for more information on the authorized share repurchase programs for the period july 1 , 2018 through june 30 , 2019 .', 'http://www.computershare.com/pnc .'] | ----------------------------------------
2018 period | total shares purchased ( a ) | average price paid per share | total shares purchased as part of publicly announced programs ( b ) | maximum number of shares that may yet be purchased under the programs ( b )
----------|----------|----------|----------|----------
october 1 2013 31 | 1204 | $ 128.43 | 1189 | 25663
november 1 2013 30 | 1491 | $ 133.79 | 1491 | 24172
december 1 2013 31 | 3458 | $ 119.43 | 3458 | 20714
total | 6153 | $ 124.67 | |
---------------------------------------- | divide(3458, 6153) | 0.562 |
what are the npm adjustment items as a percentage of the operating companies income increase? | Context: ['administering and litigating product liability claims .', 'litigation defense costs are influenced by a number of factors , including the number and types of cases filed , the number of cases tried annually , the results of trials and appeals , the development of the law controlling relevant legal issues , and litigation strategy and tactics .', 'for further discussion on these matters , see note 18 and item 3 .', 'for the years ended december 31 , 2014 , 2013 and 2012 , product liability defense costs for pm usa were $ 230 million , $ 247 million and $ 228 million , respectively .', 'the factors that have influenced past product liability defense costs are expected to continue to influence future costs .', 'pm usa does not expect future product liability defense costs to be significantly different from product liability defense costs incurred in the last few years .', 'for 2014 , total smokeable products reported shipment volume decreased 2.9% ( 2.9 % ) versus 2013 .', 'pm usa 2019s 2014 reported domestic cigarettes shipment volume decreased 3.0% ( 3.0 % ) , due primarily to the industry 2019s decline , partially offset by retail share gains .', 'when adjusted for trade inventory changes and other factors , pm usa estimates that its 2014 domestic cigarettes shipment volume decreased approximately 3% ( 3 % ) , and that total industry cigarette volumes declined approximately 3.5% ( 3.5 % ) .', 'pm usa 2019s shipments of premium cigarettes accounted for 91.8% ( 91.8 % ) of its reported domestic cigarettes shipment volume for 2014 , versus 92.1% ( 92.1 % ) for 2013 .', 'middleton 2019s reported cigars shipment volume for 2014 increased 6.1% ( 6.1 % ) , driven by black & mild 2019s performance in the tipped cigars segment , including black & mild jazz .', 'marlboro 2019s retail share for 2014 increased 0.1 share point versus 2013 .', 'pm usa grew its total retail share for 2014 by 0.2 share points versus 2013 , driven by marlboro , and l&m in discount , partially offset by share losses on other portfolio brands .', 'in the fourth quarter of 2014 , pm usa expanded distribution of marlboro menthol rich blue to 28 states , primarily in the eastern u.s. , to enhance marlboro 2019s position in the menthol segment .', 'in the machine-made large cigars category , black & mild 2019s retail share for 2014 declined 0.3 share points .', 'in december 2014 , middleton announced the national expansion of black & mild casino , a dark tobacco blend , in the tipped segment .', 'the following discussion compares operating results for the smokeable products segment for the year ended december 31 , 2013 with the year ended december 31 , 2012 .', 'net revenues , which include excise taxes billed to customers , decreased $ 348 million ( 1.6% ( 1.6 % ) ) , due primarily to lower shipment volume ( $ 1046 million ) , partially offset by higher pricing .', 'operating companies income increased $ 824 million ( 13.2% ( 13.2 % ) ) , due primarily to higher pricing ( $ 765 million ) , npm adjustment items ( $ 664 million ) and lower marketing , administration and research costs , partially offset by lower shipment volume ( $ 512 million ) , and higher per unit settlement charges .', 'for 2013 , total smokeable products reported shipment volume decreased 4.1% ( 4.1 % ) versus 2012 .', 'pm usa 2019s 2013 reported domestic cigarettes shipment volume decreased 4.1% ( 4.1 % ) , due primarily to the industry 2019s rate of decline , changes in trade inventories and other factors , partially offset by retail share gains .', 'when adjusted for trade inventories and other factors , pm usa estimated that its 2013 domestic cigarettes shipment volume was down approximately 4% ( 4 % ) , which was consistent with the estimated category decline .', 'pm usa 2019s shipments of premium cigarettes accounted for 92.1% ( 92.1 % ) of its reported domestic cigarettes shipment volume for 2013 , versus 92.7% ( 92.7 % ) for 2012 .', 'middleton 2019s reported cigars shipment volume for 2013 decreased 3.2% ( 3.2 % ) due primarily to changes in wholesale inventories and retail share losses .', 'marlboro 2019s retail share for 2013 increased 0.1 share point versus 2012 behind investments in the marlboro architecture .', 'pm usa expanded marlboro edge distribution nationally in the fourth quarter of 2013 .', 'pm usa 2019s 2013 retail share increased 0.3 share points versus 2012 , due to retail share gains by marlboro , as well as l&m in discount , partially offset by share losses on other portfolio brands .', 'in 2013 , l&m continued to gain retail share as the total discount segment was flat to declining versus 2012 .', 'in the machine-made large cigars category , black & mild 2019s retail share for 2013 decreased 1.0 share point , driven by heightened competitive activity from low-priced cigar brands .', 'smokeless products segment during 2014 , the smokeless products segment grew operating companies income and expanded operating companies income margins .', 'usstc also increased copenhagen and skoal 2019s combined retail share versus 2013 .', 'the following table summarizes smokeless products segment shipment volume performance : shipment volume for the years ended december 31 .']
########
Tabular Data:
( cans and packs in millions ), shipment volumefor the years ended december 31 , 2014, shipment volumefor the years ended december 31 , 2013, shipment volumefor the years ended december 31 , 2012
copenhagen, 448.6, 426.1, 392.5
skoal, 269.6, 283.8, 288.4
copenhagenandskoal, 718.2, 709.9, 680.9
other, 75.1, 77.6, 82.4
total smokeless products, 793.3, 787.5, 763.3
########
Post-table: ['smokeless products shipment volume includes cans and packs sold , as well as promotional units , but excludes international volume , which is not material to the smokeless products segment .', 'other includes certain usstc and pm usa smokeless products .', 'new types of smokeless products , as well as new packaging configurations of existing smokeless products , may or may not be equivalent to existing mst products on a can-for-can basis .', 'to calculate volumes of cans and packs shipped , one pack of snus , irrespective of the number of pouches in the pack , is assumed to be equivalent to one can of mst .', 'altria_mdc_2014form10k_nolinks_crops.pdf 31 2/25/15 5:56 pm .'] | 0.80583 | MO/2014/page_39.pdf-2 | ['administering and litigating product liability claims .', 'litigation defense costs are influenced by a number of factors , including the number and types of cases filed , the number of cases tried annually , the results of trials and appeals , the development of the law controlling relevant legal issues , and litigation strategy and tactics .', 'for further discussion on these matters , see note 18 and item 3 .', 'for the years ended december 31 , 2014 , 2013 and 2012 , product liability defense costs for pm usa were $ 230 million , $ 247 million and $ 228 million , respectively .', 'the factors that have influenced past product liability defense costs are expected to continue to influence future costs .', 'pm usa does not expect future product liability defense costs to be significantly different from product liability defense costs incurred in the last few years .', 'for 2014 , total smokeable products reported shipment volume decreased 2.9% ( 2.9 % ) versus 2013 .', 'pm usa 2019s 2014 reported domestic cigarettes shipment volume decreased 3.0% ( 3.0 % ) , due primarily to the industry 2019s decline , partially offset by retail share gains .', 'when adjusted for trade inventory changes and other factors , pm usa estimates that its 2014 domestic cigarettes shipment volume decreased approximately 3% ( 3 % ) , and that total industry cigarette volumes declined approximately 3.5% ( 3.5 % ) .', 'pm usa 2019s shipments of premium cigarettes accounted for 91.8% ( 91.8 % ) of its reported domestic cigarettes shipment volume for 2014 , versus 92.1% ( 92.1 % ) for 2013 .', 'middleton 2019s reported cigars shipment volume for 2014 increased 6.1% ( 6.1 % ) , driven by black & mild 2019s performance in the tipped cigars segment , including black & mild jazz .', 'marlboro 2019s retail share for 2014 increased 0.1 share point versus 2013 .', 'pm usa grew its total retail share for 2014 by 0.2 share points versus 2013 , driven by marlboro , and l&m in discount , partially offset by share losses on other portfolio brands .', 'in the fourth quarter of 2014 , pm usa expanded distribution of marlboro menthol rich blue to 28 states , primarily in the eastern u.s. , to enhance marlboro 2019s position in the menthol segment .', 'in the machine-made large cigars category , black & mild 2019s retail share for 2014 declined 0.3 share points .', 'in december 2014 , middleton announced the national expansion of black & mild casino , a dark tobacco blend , in the tipped segment .', 'the following discussion compares operating results for the smokeable products segment for the year ended december 31 , 2013 with the year ended december 31 , 2012 .', 'net revenues , which include excise taxes billed to customers , decreased $ 348 million ( 1.6% ( 1.6 % ) ) , due primarily to lower shipment volume ( $ 1046 million ) , partially offset by higher pricing .', 'operating companies income increased $ 824 million ( 13.2% ( 13.2 % ) ) , due primarily to higher pricing ( $ 765 million ) , npm adjustment items ( $ 664 million ) and lower marketing , administration and research costs , partially offset by lower shipment volume ( $ 512 million ) , and higher per unit settlement charges .', 'for 2013 , total smokeable products reported shipment volume decreased 4.1% ( 4.1 % ) versus 2012 .', 'pm usa 2019s 2013 reported domestic cigarettes shipment volume decreased 4.1% ( 4.1 % ) , due primarily to the industry 2019s rate of decline , changes in trade inventories and other factors , partially offset by retail share gains .', 'when adjusted for trade inventories and other factors , pm usa estimated that its 2013 domestic cigarettes shipment volume was down approximately 4% ( 4 % ) , which was consistent with the estimated category decline .', 'pm usa 2019s shipments of premium cigarettes accounted for 92.1% ( 92.1 % ) of its reported domestic cigarettes shipment volume for 2013 , versus 92.7% ( 92.7 % ) for 2012 .', 'middleton 2019s reported cigars shipment volume for 2013 decreased 3.2% ( 3.2 % ) due primarily to changes in wholesale inventories and retail share losses .', 'marlboro 2019s retail share for 2013 increased 0.1 share point versus 2012 behind investments in the marlboro architecture .', 'pm usa expanded marlboro edge distribution nationally in the fourth quarter of 2013 .', 'pm usa 2019s 2013 retail share increased 0.3 share points versus 2012 , due to retail share gains by marlboro , as well as l&m in discount , partially offset by share losses on other portfolio brands .', 'in 2013 , l&m continued to gain retail share as the total discount segment was flat to declining versus 2012 .', 'in the machine-made large cigars category , black & mild 2019s retail share for 2013 decreased 1.0 share point , driven by heightened competitive activity from low-priced cigar brands .', 'smokeless products segment during 2014 , the smokeless products segment grew operating companies income and expanded operating companies income margins .', 'usstc also increased copenhagen and skoal 2019s combined retail share versus 2013 .', 'the following table summarizes smokeless products segment shipment volume performance : shipment volume for the years ended december 31 .'] | ['smokeless products shipment volume includes cans and packs sold , as well as promotional units , but excludes international volume , which is not material to the smokeless products segment .', 'other includes certain usstc and pm usa smokeless products .', 'new types of smokeless products , as well as new packaging configurations of existing smokeless products , may or may not be equivalent to existing mst products on a can-for-can basis .', 'to calculate volumes of cans and packs shipped , one pack of snus , irrespective of the number of pouches in the pack , is assumed to be equivalent to one can of mst .', 'altria_mdc_2014form10k_nolinks_crops.pdf 31 2/25/15 5:56 pm .'] | ( cans and packs in millions ), shipment volumefor the years ended december 31 , 2014, shipment volumefor the years ended december 31 , 2013, shipment volumefor the years ended december 31 , 2012
copenhagen, 448.6, 426.1, 392.5
skoal, 269.6, 283.8, 288.4
copenhagenandskoal, 718.2, 709.9, 680.9
other, 75.1, 77.6, 82.4
total smokeless products, 793.3, 787.5, 763.3 | divide(664, 824) | 0.80583 |
what are total estimated future benefit payments in millions for 2019? | Context: ['investment strategy the company 2019s global pension and postretirement funds 2019 investment strategy is to invest in a prudent manner for the exclusive purpose of providing benefits to participants .', 'the investment strategies are targeted to produce a total return that , when combined with the company 2019s contributions to the funds , will maintain the funds 2019 ability to meet all required benefit obligations .', 'risk is controlled through diversification of asset types and investments in domestic and international equities , fixed income securities and cash and short-term investments .', 'the target asset allocation in most locations outside the u.s .', 'is primarily in equity and debt securities .', 'these allocations may vary by geographic region and country depending on the nature of applicable obligations and various other regional considerations .', 'the wide variation in the actual range of plan asset allocations for the funded non-u.s .', 'plans is a result of differing local statutory requirements and economic conditions .', 'for example , in certain countries local law requires that all pension plan assets must be invested in fixed income investments , government funds or local-country securities .', 'significant concentrations of risk in plan assets the assets of the company 2019s pension plans are diversified to limit the impact of any individual investment .', 'the u.s .', 'qualified pension plan is diversified across multiple asset classes , with publicly traded fixed income , hedge funds , publicly traded equity and real estate representing the most significant asset allocations .', 'investments in these four asset classes are further diversified across funds , managers , strategies , vintages , sectors and geographies , depending on the specific characteristics of each asset class .', 'the pension assets for the company 2019s non-u.s .', 'significant plans are primarily invested in publicly traded fixed income and publicly traded equity securities .', 'oversight and risk management practices the framework for the company 2019s pension oversight process includes monitoring of retirement plans by plan fiduciaries and/or management at the global , regional or country level , as appropriate .', 'independent risk management contributes to the risk oversight and monitoring for the company 2019s u.s .', 'qualified pension plan and non-u.s .', 'significant pension plans .', 'although the specific components of the oversight process are tailored to the requirements of each region , country and plan , the following elements are common to the company 2019s monitoring and risk management process : 2022 periodic asset/liability management studies and strategic asset allocation reviews ; 2022 periodic monitoring of funding levels and funding ratios ; 2022 periodic monitoring of compliance with asset allocation guidelines ; 2022 periodic monitoring of asset class and/or investment manager performance against benchmarks ; and 2022 periodic risk capital analysis and stress testing .', 'estimated future benefit payments the company expects to pay the following estimated benefit payments in future years: .']
Data Table:
****************************************
in millions of dollars, pension plans u.s . plans, pension plans non-u.s . plans, pension plans u.s . plans, non-u.s . plans
2019, $ 797, $ 435, $ 62, $ 70
2020, 828, 417, 62, 75
2021, 847, 426, 61, 80
2022, 857, 448, 59, 86
2023, 873, 471, 57, 92
2024 20132028, 4365, 2557, 252, 547
****************************************
Post-table: ['.'] | 1364.0 | C/2018/page_190.pdf-1 | ['investment strategy the company 2019s global pension and postretirement funds 2019 investment strategy is to invest in a prudent manner for the exclusive purpose of providing benefits to participants .', 'the investment strategies are targeted to produce a total return that , when combined with the company 2019s contributions to the funds , will maintain the funds 2019 ability to meet all required benefit obligations .', 'risk is controlled through diversification of asset types and investments in domestic and international equities , fixed income securities and cash and short-term investments .', 'the target asset allocation in most locations outside the u.s .', 'is primarily in equity and debt securities .', 'these allocations may vary by geographic region and country depending on the nature of applicable obligations and various other regional considerations .', 'the wide variation in the actual range of plan asset allocations for the funded non-u.s .', 'plans is a result of differing local statutory requirements and economic conditions .', 'for example , in certain countries local law requires that all pension plan assets must be invested in fixed income investments , government funds or local-country securities .', 'significant concentrations of risk in plan assets the assets of the company 2019s pension plans are diversified to limit the impact of any individual investment .', 'the u.s .', 'qualified pension plan is diversified across multiple asset classes , with publicly traded fixed income , hedge funds , publicly traded equity and real estate representing the most significant asset allocations .', 'investments in these four asset classes are further diversified across funds , managers , strategies , vintages , sectors and geographies , depending on the specific characteristics of each asset class .', 'the pension assets for the company 2019s non-u.s .', 'significant plans are primarily invested in publicly traded fixed income and publicly traded equity securities .', 'oversight and risk management practices the framework for the company 2019s pension oversight process includes monitoring of retirement plans by plan fiduciaries and/or management at the global , regional or country level , as appropriate .', 'independent risk management contributes to the risk oversight and monitoring for the company 2019s u.s .', 'qualified pension plan and non-u.s .', 'significant pension plans .', 'although the specific components of the oversight process are tailored to the requirements of each region , country and plan , the following elements are common to the company 2019s monitoring and risk management process : 2022 periodic asset/liability management studies and strategic asset allocation reviews ; 2022 periodic monitoring of funding levels and funding ratios ; 2022 periodic monitoring of compliance with asset allocation guidelines ; 2022 periodic monitoring of asset class and/or investment manager performance against benchmarks ; and 2022 periodic risk capital analysis and stress testing .', 'estimated future benefit payments the company expects to pay the following estimated benefit payments in future years: .'] | ['.'] | ****************************************
in millions of dollars, pension plans u.s . plans, pension plans non-u.s . plans, pension plans u.s . plans, non-u.s . plans
2019, $ 797, $ 435, $ 62, $ 70
2020, 828, 417, 62, 75
2021, 847, 426, 61, 80
2022, 857, 448, 59, 86
2023, 873, 471, 57, 92
2024 20132028, 4365, 2557, 252, 547
**************************************** | table_sum(2019, none) | 1364.0 |
what were average operating profit for mfc in millions between 2014 and 2016? | Context: ['delivered in 2015 compared to seven delivered in 2014 ) .', 'the increases were partially offset by lower net sales of approximately $ 350 million for the c-130 program due to fewer aircraft deliveries ( 21 aircraft delivered in 2015 , compared to 24 delivered in 2014 ) , lower sustainment activities and aircraft contract mix ; approximately $ 200 million due to decreased volume and lower risk retirements on various programs ; approximately $ 195 million for the f-16 program due to fewer deliveries ( 11 aircraft delivered in 2015 , compared to 17 delivered in 2014 ) ; and approximately $ 190 million for the f-22 program as a result of decreased sustainment activities .', 'aeronautics 2019 operating profit in 2015 increased $ 32 million , or 2% ( 2 % ) , compared to 2014 .', 'operating profit increased by approximately $ 240 million for f-35 production contracts due to increased volume and risk retirements ; and approximately $ 40 million for the c-5 program due to increased risk retirements .', 'these increases were offset by lower operating profit of approximately $ 90 million for the f-22 program due to lower risk retirements ; approximately $ 70 million for the c-130 program as a result of the reasons stated above for lower net sales ; and approximately $ 80 million due to decreased volume and risk retirements on various programs .', 'adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 100 million higher in 2015 compared to 2014 .', 'backlog backlog increased in 2016 compared to 2015 primarily due to higher orders on f-35 production and sustainment programs .', 'backlog increased in 2015 compared to 2014 primarily due to higher orders on f-35 and c-130 programs .', 'trends we expect aeronautics 2019 2017 net sales to increase in the low-double digit percentage range as compared to 2016 due to increased volume on the f-35 program .', 'operating profit is expected to increase at a slightly lower percentage range , driven by the increased volume on the f-35 program , partially offset by contract mix that results in a slight decrease in operating margins between years .', 'missiles and fire control our mfc business segment provides air and missile defense systems ; tactical missiles and air-to-ground precision strike weapon systems ; logistics ; fire control systems ; mission operations support , readiness , engineering support and integration services ; manned and unmanned ground vehicles ; and energy management solutions .', 'mfc 2019s major programs include pac-3 , thaad , multiple launch rocket system , hellfire , jassm , javelin , apache , sniper ae , low altitude navigation and targeting infrared for night ( lantirn ae ) and special operations forces contractor logistics support services ( sof clss ) .', 'in 2016 we submitted a bid for the special operations forces global logistics support services ( sof glss ) contract , which is a competitive follow-on contract to sof clss .', 'we anticipate an award decision on the follow-on contract in mid-2017 .', 'mfc 2019s operating results included the following ( in millions ) : .']
######
Tabular Data:
----------------------------------------
| 2016 | 2015 | 2014
----------|----------|----------|----------
net sales | $ 6608 | $ 6770 | $ 7092
operating profit | 1018 | 1282 | 1344
operating margin | 15.4% ( 15.4 % ) | 18.9% ( 18.9 % ) | 19.0% ( 19.0 % )
backlog atyear-end | $ 14700 | $ 15500 | $ 13300
----------------------------------------
######
Post-table: ['2016 compared to 2015 mfc 2019s net sales in 2016 decreased $ 162 million , or 2% ( 2 % ) , compared to 2015 .', 'the decrease was attributable to lower net sales of approximately $ 205 million for air and missile defense programs due to decreased volume ( primarily thaad ) ; and lower net sales of approximately $ 95 million due to lower volume on various programs .', 'these decreases were partially offset by a $ 75 million increase for tactical missiles programs due to increased deliveries ( primarily hellfire ) ; and approximately $ 70 million for fire control programs due to increased volume ( sof clss ) .', 'mfc 2019s operating profit in 2016 decreased $ 264 million , or 21% ( 21 % ) , compared to 2015 .', 'operating profit decreased approximately $ 145 million for air and missile defense programs due to lower risk retirements ( pac-3 and thaad ) and a reserve for a contractual matter ; approximately $ 45 million for tactical missiles programs due to lower risk retirements ( javelin ) ; and approximately $ 45 million for fire control programs due to lower risk retirements ( apache ) and program mix .', 'adjustments not related to volume , including net profit booking rate adjustments and reserves , were about $ 225 million lower in 2016 compared to 2015. .'] | 1214.66667 | LMT/2016/page_49.pdf-4 | ['delivered in 2015 compared to seven delivered in 2014 ) .', 'the increases were partially offset by lower net sales of approximately $ 350 million for the c-130 program due to fewer aircraft deliveries ( 21 aircraft delivered in 2015 , compared to 24 delivered in 2014 ) , lower sustainment activities and aircraft contract mix ; approximately $ 200 million due to decreased volume and lower risk retirements on various programs ; approximately $ 195 million for the f-16 program due to fewer deliveries ( 11 aircraft delivered in 2015 , compared to 17 delivered in 2014 ) ; and approximately $ 190 million for the f-22 program as a result of decreased sustainment activities .', 'aeronautics 2019 operating profit in 2015 increased $ 32 million , or 2% ( 2 % ) , compared to 2014 .', 'operating profit increased by approximately $ 240 million for f-35 production contracts due to increased volume and risk retirements ; and approximately $ 40 million for the c-5 program due to increased risk retirements .', 'these increases were offset by lower operating profit of approximately $ 90 million for the f-22 program due to lower risk retirements ; approximately $ 70 million for the c-130 program as a result of the reasons stated above for lower net sales ; and approximately $ 80 million due to decreased volume and risk retirements on various programs .', 'adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 100 million higher in 2015 compared to 2014 .', 'backlog backlog increased in 2016 compared to 2015 primarily due to higher orders on f-35 production and sustainment programs .', 'backlog increased in 2015 compared to 2014 primarily due to higher orders on f-35 and c-130 programs .', 'trends we expect aeronautics 2019 2017 net sales to increase in the low-double digit percentage range as compared to 2016 due to increased volume on the f-35 program .', 'operating profit is expected to increase at a slightly lower percentage range , driven by the increased volume on the f-35 program , partially offset by contract mix that results in a slight decrease in operating margins between years .', 'missiles and fire control our mfc business segment provides air and missile defense systems ; tactical missiles and air-to-ground precision strike weapon systems ; logistics ; fire control systems ; mission operations support , readiness , engineering support and integration services ; manned and unmanned ground vehicles ; and energy management solutions .', 'mfc 2019s major programs include pac-3 , thaad , multiple launch rocket system , hellfire , jassm , javelin , apache , sniper ae , low altitude navigation and targeting infrared for night ( lantirn ae ) and special operations forces contractor logistics support services ( sof clss ) .', 'in 2016 we submitted a bid for the special operations forces global logistics support services ( sof glss ) contract , which is a competitive follow-on contract to sof clss .', 'we anticipate an award decision on the follow-on contract in mid-2017 .', 'mfc 2019s operating results included the following ( in millions ) : .'] | ['2016 compared to 2015 mfc 2019s net sales in 2016 decreased $ 162 million , or 2% ( 2 % ) , compared to 2015 .', 'the decrease was attributable to lower net sales of approximately $ 205 million for air and missile defense programs due to decreased volume ( primarily thaad ) ; and lower net sales of approximately $ 95 million due to lower volume on various programs .', 'these decreases were partially offset by a $ 75 million increase for tactical missiles programs due to increased deliveries ( primarily hellfire ) ; and approximately $ 70 million for fire control programs due to increased volume ( sof clss ) .', 'mfc 2019s operating profit in 2016 decreased $ 264 million , or 21% ( 21 % ) , compared to 2015 .', 'operating profit decreased approximately $ 145 million for air and missile defense programs due to lower risk retirements ( pac-3 and thaad ) and a reserve for a contractual matter ; approximately $ 45 million for tactical missiles programs due to lower risk retirements ( javelin ) ; and approximately $ 45 million for fire control programs due to lower risk retirements ( apache ) and program mix .', 'adjustments not related to volume , including net profit booking rate adjustments and reserves , were about $ 225 million lower in 2016 compared to 2015. .'] | ----------------------------------------
| 2016 | 2015 | 2014
----------|----------|----------|----------
net sales | $ 6608 | $ 6770 | $ 7092
operating profit | 1018 | 1282 | 1344
operating margin | 15.4% ( 15.4 % ) | 18.9% ( 18.9 % ) | 19.0% ( 19.0 % )
backlog atyear-end | $ 14700 | $ 15500 | $ 13300
---------------------------------------- | table_average(operating profit, none) | 1214.66667 |
what is the reduction of income tax expense as a percentage of net revenue in 2016? | Context: ['results of operations for 2016 include : 1 ) $ 2836 million ( $ 1829 million net-of-tax ) of impairment and related charges primarily to write down the carrying values of the entergy wholesale commodities 2019 palisades , indian point 2 , and indian point 3 plants and related assets to their fair values ; 2 ) a reduction of income tax expense , net of unrecognized tax benefits , of $ 238 million as a result of a change in the tax classification of a legal entity that owned one of the entergy wholesale commodities nuclear power plants ; income tax benefits as a result of the settlement of the 2010-2011 irs audit , including a $ 75 million tax benefit recognized by entergy louisiana related to the treatment of the vidalia purchased power agreement and a $ 54 million net benefit recognized by entergy louisiana related to the treatment of proceeds received in 2010 for the financing of hurricane gustav and hurricane ike storm costs pursuant to louisiana act 55 ; and 3 ) a reduction in expenses of $ 100 million ( $ 64 million net-of-tax ) due to the effects of recording in 2016 the final court decisions in several lawsuits against the doe related to spent nuclear fuel storage costs .', 'see note 14 to the financial statements for further discussion of the impairment and related charges , see note 3 to the financial statements for additional discussion of the income tax items , and see note 8 to the financial statements for discussion of the spent nuclear fuel litigation .', 'net revenue utility following is an analysis of the change in net revenue comparing 2017 to 2016 .', 'amount ( in millions ) .']
--
Table:
| amount ( in millions )
2016 net revenue | $ 6179
retail electric price | 91
regulatory credit resulting from reduction of thefederal corporate income tax rate | 56
grand gulf recovery | 27
louisiana act 55 financing savings obligation | 17
volume/weather | -61 ( 61 )
other | 9
2017 net revenue | $ 6318
--
Post-table: ['the retail electric price variance is primarily due to : 2022 the implementation of formula rate plan rates effective with the first billing cycle of january 2017 at entergy arkansas and an increase in base rates effective february 24 , 2016 , each as approved by the apsc .', 'a significant portion of the base rate increase was related to the purchase of power block 2 of the union power station in march 2016 ; 2022 a provision recorded in 2016 related to the settlement of the waterford 3 replacement steam generator prudence review proceeding ; 2022 the implementation of the transmission cost recovery factor rider at entergy texas , effective september 2016 , and an increase in the transmission cost recovery factor rider rate , effective march 2017 , as approved by the puct ; and 2022 an increase in rates at entergy mississippi , as approved by the mpsc , effective with the first billing cycle of july 2016 .', 'see note 2 to the financial statements for further discussion of the rate proceedings and the waterford 3 replacement steam generator prudence review proceeding .', 'see note 14 to the financial statements for discussion of the union power station purchase .', 'entergy corporation and subsidiaries management 2019s financial discussion and analysis .'] | 0.03852 | ETR/2017/page_19.pdf-2 | ['results of operations for 2016 include : 1 ) $ 2836 million ( $ 1829 million net-of-tax ) of impairment and related charges primarily to write down the carrying values of the entergy wholesale commodities 2019 palisades , indian point 2 , and indian point 3 plants and related assets to their fair values ; 2 ) a reduction of income tax expense , net of unrecognized tax benefits , of $ 238 million as a result of a change in the tax classification of a legal entity that owned one of the entergy wholesale commodities nuclear power plants ; income tax benefits as a result of the settlement of the 2010-2011 irs audit , including a $ 75 million tax benefit recognized by entergy louisiana related to the treatment of the vidalia purchased power agreement and a $ 54 million net benefit recognized by entergy louisiana related to the treatment of proceeds received in 2010 for the financing of hurricane gustav and hurricane ike storm costs pursuant to louisiana act 55 ; and 3 ) a reduction in expenses of $ 100 million ( $ 64 million net-of-tax ) due to the effects of recording in 2016 the final court decisions in several lawsuits against the doe related to spent nuclear fuel storage costs .', 'see note 14 to the financial statements for further discussion of the impairment and related charges , see note 3 to the financial statements for additional discussion of the income tax items , and see note 8 to the financial statements for discussion of the spent nuclear fuel litigation .', 'net revenue utility following is an analysis of the change in net revenue comparing 2017 to 2016 .', 'amount ( in millions ) .'] | ['the retail electric price variance is primarily due to : 2022 the implementation of formula rate plan rates effective with the first billing cycle of january 2017 at entergy arkansas and an increase in base rates effective february 24 , 2016 , each as approved by the apsc .', 'a significant portion of the base rate increase was related to the purchase of power block 2 of the union power station in march 2016 ; 2022 a provision recorded in 2016 related to the settlement of the waterford 3 replacement steam generator prudence review proceeding ; 2022 the implementation of the transmission cost recovery factor rider at entergy texas , effective september 2016 , and an increase in the transmission cost recovery factor rider rate , effective march 2017 , as approved by the puct ; and 2022 an increase in rates at entergy mississippi , as approved by the mpsc , effective with the first billing cycle of july 2016 .', 'see note 2 to the financial statements for further discussion of the rate proceedings and the waterford 3 replacement steam generator prudence review proceeding .', 'see note 14 to the financial statements for discussion of the union power station purchase .', 'entergy corporation and subsidiaries management 2019s financial discussion and analysis .'] | | amount ( in millions )
2016 net revenue | $ 6179
retail electric price | 91
regulatory credit resulting from reduction of thefederal corporate income tax rate | 56
grand gulf recovery | 27
louisiana act 55 financing savings obligation | 17
volume/weather | -61 ( 61 )
other | 9
2017 net revenue | $ 6318 | divide(238, 6179) | 0.03852 |
what was the percent of the net gains and losses from cva and hedges of cva ( a ) | Background: ['management 2019s discussion and analysis 128 jpmorgan chase & co./2010 annual report year ended december 31 .']
####
Table:
========================================
( in millions ) | 2010 | 2009 | 2008
----------|----------|----------|----------
hedges of lending-related commitments ( a ) | $ -279 ( 279 ) | $ -3258 ( 3258 ) | $ 2216
cva and hedges of cva ( a ) | -403 ( 403 ) | 1920 | -2359 ( 2359 )
net gains/ ( losses ) | $ -682 ( 682 ) | $ -1338 ( 1338 ) | $ -143 ( 143 )
========================================
####
Follow-up: ['( a ) these hedges do not qualify for hedge accounting under u.s .', 'gaap .', 'lending-related commitments jpmorgan chase uses lending-related financial instruments , such as commitments and guarantees , to meet the financing needs of its customers .', 'the contractual amount of these financial instruments represents the maximum possible credit risk should the counterpar- ties draw down on these commitments or the firm fulfills its obliga- tion under these guarantees , and should the counterparties subsequently fail to perform according to the terms of these con- tracts .', 'wholesale lending-related commitments were $ 346.1 billion at december 31 , 2010 , compared with $ 347.2 billion at december 31 , 2009 .', 'the decrease reflected the january 1 , 2010 , adoption of accounting guidance related to vies .', 'excluding the effect of the accounting guidance , lending-related commitments would have increased by $ 16.6 billion .', 'in the firm 2019s view , the total contractual amount of these wholesale lending-related commitments is not representative of the firm 2019s actual credit risk exposure or funding requirements .', 'in determining the amount of credit risk exposure the firm has to wholesale lend- ing-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 contin- gent exposure that is expected , based on average portfolio histori- cal experience , to become drawn upon in an event of a default by an obligor .', 'the loan-equivalent amounts of the firm 2019s lending- related commitments were $ 189.9 billion and $ 179.8 billion as of december 31 , 2010 and 2009 , respectively .', 'country exposure the firm 2019s wholesale portfolio includes country risk exposures to both developed and emerging markets .', 'the firm seeks to diversify its country exposures , including its credit-related lending , trading and investment activities , whether cross-border or locally funded .', 'country exposure under the firm 2019s internal risk management ap- proach is reported based on the country where the assets of the obligor , counterparty or guarantor are located .', 'exposure amounts , including resale agreements , are adjusted for collateral and for credit enhancements ( e.g. , guarantees and letters of credit ) pro- vided by third parties ; outstandings supported by a guarantor located outside the country or backed by collateral held outside the country are assigned to the country of the enhancement provider .', 'in addition , the effect of credit derivative hedges and other short credit or equity trading positions are taken into consideration .', 'total exposure measures include activity with both government and private-sector entities in a country .', 'the firm also reports country exposure for regulatory purposes following ffiec guidelines , which are different from the firm 2019s internal risk management approach for measuring country expo- sure .', 'for additional information on the ffiec exposures , see cross- border outstandings on page 314 of this annual report .', 'several european countries , including greece , portugal , spain , italy and ireland , have been subject to credit deterioration due to weak- nesses in their economic and fiscal situations .', 'the firm is closely monitoring its exposures to these five countries .', 'aggregate net exposures to these five countries as measured under the firm 2019s internal approach was less than $ 15.0 billion at december 31 , 2010 , with no country representing a majority of the exposure .', 'sovereign exposure in all five countries represented less than half the aggregate net exposure .', 'the firm currently believes its exposure to these five countries is modest relative to the firm 2019s overall risk expo- sures and is manageable given the size and types of exposures to each of the countries and the diversification of the aggregate expo- sure .', 'the firm continues to conduct business and support client activity in these countries and , therefore , the firm 2019s aggregate net exposures may vary over time .', 'in addition , the net exposures may be impacted by changes in market conditions , and the effects of interest rates and credit spreads on market valuations .', 'as part of its ongoing country risk management process , the firm monitors exposure to emerging market countries , and utilizes country stress tests to measure and manage the risk of extreme loss associated with a sovereign crisis .', 'there is no common definition of emerging markets , but the firm generally includes in its definition those countries whose sovereign debt ratings are equivalent to 201ca+ 201d or lower .', 'the table below presents the firm 2019s exposure to its top 10 emerging markets countries based on its internal measure- ment approach .', 'the selection of countries is based solely on the firm 2019s largest total exposures by country and does not represent its view of any actual or potentially adverse credit conditions. .'] | 0.59091 | JPM/2010/page_128.pdf-2 | ['management 2019s discussion and analysis 128 jpmorgan chase & co./2010 annual report year ended december 31 .'] | ['( a ) these hedges do not qualify for hedge accounting under u.s .', 'gaap .', 'lending-related commitments jpmorgan chase uses lending-related financial instruments , such as commitments and guarantees , to meet the financing needs of its customers .', 'the contractual amount of these financial instruments represents the maximum possible credit risk should the counterpar- ties draw down on these commitments or the firm fulfills its obliga- tion under these guarantees , and should the counterparties subsequently fail to perform according to the terms of these con- tracts .', 'wholesale lending-related commitments were $ 346.1 billion at december 31 , 2010 , compared with $ 347.2 billion at december 31 , 2009 .', 'the decrease reflected the january 1 , 2010 , adoption of accounting guidance related to vies .', 'excluding the effect of the accounting guidance , lending-related commitments would have increased by $ 16.6 billion .', 'in the firm 2019s view , the total contractual amount of these wholesale lending-related commitments is not representative of the firm 2019s actual credit risk exposure or funding requirements .', 'in determining the amount of credit risk exposure the firm has to wholesale lend- ing-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 contin- gent exposure that is expected , based on average portfolio histori- cal experience , to become drawn upon in an event of a default by an obligor .', 'the loan-equivalent amounts of the firm 2019s lending- related commitments were $ 189.9 billion and $ 179.8 billion as of december 31 , 2010 and 2009 , respectively .', 'country exposure the firm 2019s wholesale portfolio includes country risk exposures to both developed and emerging markets .', 'the firm seeks to diversify its country exposures , including its credit-related lending , trading and investment activities , whether cross-border or locally funded .', 'country exposure under the firm 2019s internal risk management ap- proach is reported based on the country where the assets of the obligor , counterparty or guarantor are located .', 'exposure amounts , including resale agreements , are adjusted for collateral and for credit enhancements ( e.g. , guarantees and letters of credit ) pro- vided by third parties ; outstandings supported by a guarantor located outside the country or backed by collateral held outside the country are assigned to the country of the enhancement provider .', 'in addition , the effect of credit derivative hedges and other short credit or equity trading positions are taken into consideration .', 'total exposure measures include activity with both government and private-sector entities in a country .', 'the firm also reports country exposure for regulatory purposes following ffiec guidelines , which are different from the firm 2019s internal risk management approach for measuring country expo- sure .', 'for additional information on the ffiec exposures , see cross- border outstandings on page 314 of this annual report .', 'several european countries , including greece , portugal , spain , italy and ireland , have been subject to credit deterioration due to weak- nesses in their economic and fiscal situations .', 'the firm is closely monitoring its exposures to these five countries .', 'aggregate net exposures to these five countries as measured under the firm 2019s internal approach was less than $ 15.0 billion at december 31 , 2010 , with no country representing a majority of the exposure .', 'sovereign exposure in all five countries represented less than half the aggregate net exposure .', 'the firm currently believes its exposure to these five countries is modest relative to the firm 2019s overall risk expo- sures and is manageable given the size and types of exposures to each of the countries and the diversification of the aggregate expo- sure .', 'the firm continues to conduct business and support client activity in these countries and , therefore , the firm 2019s aggregate net exposures may vary over time .', 'in addition , the net exposures may be impacted by changes in market conditions , and the effects of interest rates and credit spreads on market valuations .', 'as part of its ongoing country risk management process , the firm monitors exposure to emerging market countries , and utilizes country stress tests to measure and manage the risk of extreme loss associated with a sovereign crisis .', 'there is no common definition of emerging markets , but the firm generally includes in its definition those countries whose sovereign debt ratings are equivalent to 201ca+ 201d or lower .', 'the table below presents the firm 2019s exposure to its top 10 emerging markets countries based on its internal measure- ment approach .', 'the selection of countries is based solely on the firm 2019s largest total exposures by country and does not represent its view of any actual or potentially adverse credit conditions. .'] | ========================================
( in millions ) | 2010 | 2009 | 2008
----------|----------|----------|----------
hedges of lending-related commitments ( a ) | $ -279 ( 279 ) | $ -3258 ( 3258 ) | $ 2216
cva and hedges of cva ( a ) | -403 ( 403 ) | 1920 | -2359 ( 2359 )
net gains/ ( losses ) | $ -682 ( 682 ) | $ -1338 ( 1338 ) | $ -143 ( 143 )
======================================== | divide(403, 682) | 0.59091 |
based on the table , how much percent did the healthcare sector outperform the overall market in this 5 year period? | Background: ['stock performance graph the following graph provides a comparison of five year cumulative total stockholder returns of teleflex common stock , the standard & poor 2019s ( s&p ) 500 stock index and the s&p 500 healthcare equipment & supply index .', 'the annual changes for the five-year period shown on the graph are based on the assumption that $ 100 had been invested in teleflex common stock and each index on december 31 , 2010 and that all dividends were reinvested .', 'market performance .']
Data Table:
========================================
company / index, 2010, 2011, 2012, 2013, 2014, 2015
teleflex incorporated, 100, 117, 138, 185, 229, 266
s&p 500 index, 100, 102, 118, 157, 178, 181
s&p 500 healthcare equipment & supply index, 100, 99, 116, 148, 187, 199
========================================
Additional Information: ['s&p 500 healthcare equipment & supply index 100 99 116 148 187 199 .'] | 18.0 | TFX/2015/page_42.pdf-3 | ['stock performance graph the following graph provides a comparison of five year cumulative total stockholder returns of teleflex common stock , the standard & poor 2019s ( s&p ) 500 stock index and the s&p 500 healthcare equipment & supply index .', 'the annual changes for the five-year period shown on the graph are based on the assumption that $ 100 had been invested in teleflex common stock and each index on december 31 , 2010 and that all dividends were reinvested .', 'market performance .'] | ['s&p 500 healthcare equipment & supply index 100 99 116 148 187 199 .'] | ========================================
company / index, 2010, 2011, 2012, 2013, 2014, 2015
teleflex incorporated, 100, 117, 138, 185, 229, 266
s&p 500 index, 100, 102, 118, 157, 178, 181
s&p 500 healthcare equipment & supply index, 100, 99, 116, 148, 187, 199
======================================== | subtract(199, 100), subtract(181, 100), subtract(#0, #1) | 18.0 |
what was the change in research and development net in millions from 2016 to 2017? | Context: ['52 2018 ppg annual report and 10-k 1 .', 'summary of significant accounting policies principles of consolidation the accompanying consolidated financial statements include the accounts of ppg industries , inc .', '( 201cppg 201d or the 201ccompany 201d ) and all subsidiaries , both u.s .', 'and non-u.s. , that it controls .', 'ppg owns more than 50% ( 50 % ) of the voting stock of most of the subsidiaries that it controls .', 'for those consolidated subsidiaries in which the company 2019s ownership is less than 100% ( 100 % ) , the outside shareholders 2019 interests are shown as noncontrolling interests .', 'investments in companies in which ppg owns 20% ( 20 % ) to 50% ( 50 % ) of the voting stock and has the ability to exercise significant influence over operating and financial policies of the investee are accounted for using the equity method of accounting .', 'as a result , ppg 2019s share of income or losses from such equity affiliates is included in the consolidated statement of income and ppg 2019s share of these companies 2019 shareholders 2019 equity is included in investments on the consolidated balance sheet .', 'transactions between ppg and its subsidiaries are eliminated in consolidation .', 'use of estimates in the preparation of financial statements the preparation of financial statements in conformity with u.s .', 'generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements , as well as the reported amounts of income and expenses during the reporting period .', 'such estimates also include the fair value of assets acquired and liabilities assumed resulting from the allocation of the purchase price related to business combinations consummated .', 'actual outcomes could differ from those estimates .', 'revenue recognition revenue is recognized as performance obligations with the customer are satisfied , at an amount that is determined to be collectible .', 'for the sale of products , this generally occurs at the point in time when control of the company 2019s products transfers to the customer based on the agreed upon shipping terms .', 'shipping and handling costs amounts billed to customers for shipping and handling are reported in net sales in the consolidated statement of income .', 'shipping and handling costs incurred by the company for the delivery of goods to customers are included in cost of sales , exclusive of depreciation and amortization in the consolidated statement of income .', 'selling , general and administrative costs amounts presented in selling , general and administrative in the consolidated statement of income are comprised of selling , customer service , distribution and advertising costs , as well as the costs of providing corporate-wide functional support in such areas as finance , law , human resources and planning .', 'distribution costs pertain to the movement and storage of finished goods inventory at company-owned and leased warehouses and other distribution facilities .', 'advertising costs advertising costs are expensed as incurred and totaled $ 280 million , $ 313 million and $ 322 million in 2018 , 2017 and 2016 , respectively .', 'research and development research and development costs , which consist primarily of employee related costs , are charged to expense as incurred. .']
----
Tabular Data:
****************************************
( $ in millions ) | 2018 | 2017 | 2016
research and development 2013 total | $ 464 | $ 472 | $ 473
less depreciation on research facilities | 23 | 21 | 20
research and development net | $ 441 | $ 451 | $ 453
****************************************
----
Additional Information: ['legal costs legal costs , primarily include costs associated with acquisition and divestiture transactions , general litigation , environmental regulation compliance , patent and trademark protection and other general corporate purposes , are charged to expense as incurred .', 'income taxes income taxes are accounted for under the asset and liability method .', 'deferred tax assets and liabilities are recognized for the future tax consequences attributable to operating losses and tax credit carryforwards as well as differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases .', 'the effect on deferred notes to the consolidated financial statements .'] | -2.0 | PPG/2018/page_54.pdf-4 | ['52 2018 ppg annual report and 10-k 1 .', 'summary of significant accounting policies principles of consolidation the accompanying consolidated financial statements include the accounts of ppg industries , inc .', '( 201cppg 201d or the 201ccompany 201d ) and all subsidiaries , both u.s .', 'and non-u.s. , that it controls .', 'ppg owns more than 50% ( 50 % ) of the voting stock of most of the subsidiaries that it controls .', 'for those consolidated subsidiaries in which the company 2019s ownership is less than 100% ( 100 % ) , the outside shareholders 2019 interests are shown as noncontrolling interests .', 'investments in companies in which ppg owns 20% ( 20 % ) to 50% ( 50 % ) of the voting stock and has the ability to exercise significant influence over operating and financial policies of the investee are accounted for using the equity method of accounting .', 'as a result , ppg 2019s share of income or losses from such equity affiliates is included in the consolidated statement of income and ppg 2019s share of these companies 2019 shareholders 2019 equity is included in investments on the consolidated balance sheet .', 'transactions between ppg and its subsidiaries are eliminated in consolidation .', 'use of estimates in the preparation of financial statements the preparation of financial statements in conformity with u.s .', 'generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements , as well as the reported amounts of income and expenses during the reporting period .', 'such estimates also include the fair value of assets acquired and liabilities assumed resulting from the allocation of the purchase price related to business combinations consummated .', 'actual outcomes could differ from those estimates .', 'revenue recognition revenue is recognized as performance obligations with the customer are satisfied , at an amount that is determined to be collectible .', 'for the sale of products , this generally occurs at the point in time when control of the company 2019s products transfers to the customer based on the agreed upon shipping terms .', 'shipping and handling costs amounts billed to customers for shipping and handling are reported in net sales in the consolidated statement of income .', 'shipping and handling costs incurred by the company for the delivery of goods to customers are included in cost of sales , exclusive of depreciation and amortization in the consolidated statement of income .', 'selling , general and administrative costs amounts presented in selling , general and administrative in the consolidated statement of income are comprised of selling , customer service , distribution and advertising costs , as well as the costs of providing corporate-wide functional support in such areas as finance , law , human resources and planning .', 'distribution costs pertain to the movement and storage of finished goods inventory at company-owned and leased warehouses and other distribution facilities .', 'advertising costs advertising costs are expensed as incurred and totaled $ 280 million , $ 313 million and $ 322 million in 2018 , 2017 and 2016 , respectively .', 'research and development research and development costs , which consist primarily of employee related costs , are charged to expense as incurred. .'] | ['legal costs legal costs , primarily include costs associated with acquisition and divestiture transactions , general litigation , environmental regulation compliance , patent and trademark protection and other general corporate purposes , are charged to expense as incurred .', 'income taxes income taxes are accounted for under the asset and liability method .', 'deferred tax assets and liabilities are recognized for the future tax consequences attributable to operating losses and tax credit carryforwards as well as differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases .', 'the effect on deferred notes to the consolidated financial statements .'] | ****************************************
( $ in millions ) | 2018 | 2017 | 2016
research and development 2013 total | $ 464 | $ 472 | $ 473
less depreciation on research facilities | 23 | 21 | 20
research and development net | $ 441 | $ 451 | $ 453
**************************************** | subtract(451, 453) | -2.0 |
what percent of total commitments are greater than 5 years? | Context: ['amount of commitment expiration per period other commercial commitments after millions total 2015 2016 2017 2018 2019 2019 .']
--
Table:
========================================
Row 1: other commercial commitmentsmillions, total, amount of commitment expiration per period 2015, amount of commitment expiration per period 2016, amount of commitment expiration per period 2017, amount of commitment expiration per period 2018, amount of commitment expiration per period 2019, amount of commitment expiration per period after2019
Row 2: credit facilities [a], $ 1700, $ -, $ -, $ -, $ -, $ 1700, $ -
Row 3: receivables securitization facility [b], 650, -, -, 650, -, -, -
Row 4: guarantees [c], 82, 12, 26, 10, 11, 8, 15
Row 5: standby letters of credit [d], 40, 34, 6, -, -, -, -
Row 6: total commercialcommitments, $ 2472, $ 46, $ 32, $ 660, $ 11, $ 1708, $ 15
========================================
--
Post-table: ['[a] none of the credit facility was used as of december 31 , 2014 .', '[b] $ 400 million of the receivables securitization facility was utilized as of december 31 , 2014 , which is accounted for as debt .', 'the full program matures in july 2017 .', '[c] includes guaranteed obligations related to our equipment financings and affiliated operations .', '[d] none of the letters of credit were drawn upon as of december 31 , 2014 .', 'off-balance sheet arrangements guarantees 2013 at december 31 , 2014 , and 2013 , we were contingently liable for $ 82 million and $ 299 million in guarantees .', 'we have recorded liabilities of $ 0.3 million and $ 1 million for the fair value of these obligations as of december 31 , 2014 , and 2013 , respectively .', 'we entered into these contingent guarantees in the normal course of business , and they include guaranteed obligations related to our equipment financings and affiliated operations .', 'the final guarantee expires in 2022 .', 'we are not aware of any existing event of default that would require us to satisfy these guarantees .', 'we do not expect that these guarantees will have a material adverse effect on our consolidated financial condition , results of operations , or liquidity .', 'other matters labor agreements 2013 approximately 85% ( 85 % ) of our 47201 full-time-equivalent employees are represented by 14 major rail unions .', 'on january 1 , 2015 , current labor agreements became subject to modification and we began the current round of negotiations with the unions .', 'existing agreements remain in effect until new agreements are reached or the railway labor act 2019s procedures ( which include mediation , cooling-off periods , and the possibility of presidential emergency boards and congressional intervention ) are exhausted .', 'contract negotiations historically continue for an extended period of time and we rarely experience work stoppages while negotiations are pending .', 'inflation 2013 long periods of inflation significantly increase asset replacement costs for capital-intensive companies .', 'as a result , assuming that we replace all operating assets at current price levels , depreciation charges ( on an inflation-adjusted basis ) would be substantially greater than historically reported amounts .', 'derivative financial instruments 2013 we may use derivative financial instruments in limited instances to assist in managing our overall exposure to fluctuations in interest rates and fuel prices .', 'we are not a party to leveraged derivatives and , by policy , do not use derivative financial instruments for speculative purposes .', 'derivative financial instruments qualifying for hedge accounting must maintain a specified level of effectiveness between the hedging instrument and the item being hedged , both at inception and throughout the hedged period .', 'we formally document the nature and relationships between the hedging instruments and hedged items at inception , as well as our risk-management objectives , strategies for undertaking the various hedge transactions , and method of assessing hedge effectiveness .', 'changes in the fair market value of derivative financial instruments that do not qualify for hedge accounting are charged to earnings .', 'we may use swaps , collars , futures , and/or forward contracts to mitigate the risk of adverse movements in interest rates and fuel prices ; however , the use of these derivative financial instruments may limit future benefits from favorable price movements .', 'market and credit risk 2013 we address market risk related to derivative financial instruments by selecting instruments with value fluctuations that highly correlate with the underlying hedged item .', 'we manage credit risk related to derivative financial instruments , which is minimal , by requiring high credit standards for counterparties and periodic settlements .', 'at december 31 , 2014 and 2013 , we were not required to provide collateral , nor had we received collateral , relating to our hedging activities. .'] | 0.00607 | UNP/2014/page_41.pdf-2 | ['amount of commitment expiration per period other commercial commitments after millions total 2015 2016 2017 2018 2019 2019 .'] | ['[a] none of the credit facility was used as of december 31 , 2014 .', '[b] $ 400 million of the receivables securitization facility was utilized as of december 31 , 2014 , which is accounted for as debt .', 'the full program matures in july 2017 .', '[c] includes guaranteed obligations related to our equipment financings and affiliated operations .', '[d] none of the letters of credit were drawn upon as of december 31 , 2014 .', 'off-balance sheet arrangements guarantees 2013 at december 31 , 2014 , and 2013 , we were contingently liable for $ 82 million and $ 299 million in guarantees .', 'we have recorded liabilities of $ 0.3 million and $ 1 million for the fair value of these obligations as of december 31 , 2014 , and 2013 , respectively .', 'we entered into these contingent guarantees in the normal course of business , and they include guaranteed obligations related to our equipment financings and affiliated operations .', 'the final guarantee expires in 2022 .', 'we are not aware of any existing event of default that would require us to satisfy these guarantees .', 'we do not expect that these guarantees will have a material adverse effect on our consolidated financial condition , results of operations , or liquidity .', 'other matters labor agreements 2013 approximately 85% ( 85 % ) of our 47201 full-time-equivalent employees are represented by 14 major rail unions .', 'on january 1 , 2015 , current labor agreements became subject to modification and we began the current round of negotiations with the unions .', 'existing agreements remain in effect until new agreements are reached or the railway labor act 2019s procedures ( which include mediation , cooling-off periods , and the possibility of presidential emergency boards and congressional intervention ) are exhausted .', 'contract negotiations historically continue for an extended period of time and we rarely experience work stoppages while negotiations are pending .', 'inflation 2013 long periods of inflation significantly increase asset replacement costs for capital-intensive companies .', 'as a result , assuming that we replace all operating assets at current price levels , depreciation charges ( on an inflation-adjusted basis ) would be substantially greater than historically reported amounts .', 'derivative financial instruments 2013 we may use derivative financial instruments in limited instances to assist in managing our overall exposure to fluctuations in interest rates and fuel prices .', 'we are not a party to leveraged derivatives and , by policy , do not use derivative financial instruments for speculative purposes .', 'derivative financial instruments qualifying for hedge accounting must maintain a specified level of effectiveness between the hedging instrument and the item being hedged , both at inception and throughout the hedged period .', 'we formally document the nature and relationships between the hedging instruments and hedged items at inception , as well as our risk-management objectives , strategies for undertaking the various hedge transactions , and method of assessing hedge effectiveness .', 'changes in the fair market value of derivative financial instruments that do not qualify for hedge accounting are charged to earnings .', 'we may use swaps , collars , futures , and/or forward contracts to mitigate the risk of adverse movements in interest rates and fuel prices ; however , the use of these derivative financial instruments may limit future benefits from favorable price movements .', 'market and credit risk 2013 we address market risk related to derivative financial instruments by selecting instruments with value fluctuations that highly correlate with the underlying hedged item .', 'we manage credit risk related to derivative financial instruments , which is minimal , by requiring high credit standards for counterparties and periodic settlements .', 'at december 31 , 2014 and 2013 , we were not required to provide collateral , nor had we received collateral , relating to our hedging activities. .'] | ========================================
Row 1: other commercial commitmentsmillions, total, amount of commitment expiration per period 2015, amount of commitment expiration per period 2016, amount of commitment expiration per period 2017, amount of commitment expiration per period 2018, amount of commitment expiration per period 2019, amount of commitment expiration per period after2019
Row 2: credit facilities [a], $ 1700, $ -, $ -, $ -, $ -, $ 1700, $ -
Row 3: receivables securitization facility [b], 650, -, -, 650, -, -, -
Row 4: guarantees [c], 82, 12, 26, 10, 11, 8, 15
Row 5: standby letters of credit [d], 40, 34, 6, -, -, -, -
Row 6: total commercialcommitments, $ 2472, $ 46, $ 32, $ 660, $ 11, $ 1708, $ 15
======================================== | divide(15, 2472) | 0.00607 |
in 2007 what was the change in the unrecognized tax benefits in millions | Pre-text: ['notes to consolidated financial statements ( continued ) | 72 snap-on incorporated following is a reconciliation of the beginning and ending amount of unrecognized tax benefits : ( amounts in millions ) amount .']
Table:
========================================
• ( amounts in millions ), amount
• unrecognized tax benefits as of december 31 2006, $ 21.3
• gross increases 2013 tax positions in prior periods, 0.5
• gross decreases 2013 tax positions in prior periods, -0.4 ( 0.4 )
• gross increases 2013 tax positions in the current period, 0.5
• settlements with taxing authorities, -3.0 ( 3.0 )
• lapsing of statutes of limitations, -0.2 ( 0.2 )
• unrecognized tax benefits as of december 29 2007, $ 18.7
========================================
Follow-up: ['of the $ 18.7 million of unrecognized tax benefits at the end of 2007 , approximately $ 16.2 million would impact the effective income tax rate if recognized .', 'interest and penalties related to unrecognized tax benefits are recorded in income tax expense .', 'during the years ended december 29 , 2007 , december 30 , 2006 , and december 31 , 2005 , the company recognized approximately $ 1.2 million , $ 0.5 million and ( $ 0.5 ) million in net interest expense ( benefit ) , respectively .', 'the company has provided for approximately $ 3.4 million , $ 2.2 million , and $ 1.7 million of accrued interest related to unrecognized tax benefits at the end of fiscal year 2007 , 2006 and 2005 , respectively .', 'during the next 12 months , the company does not anticipate any significant changes to the total amount of unrecognized tax benefits , other than the accrual of additional interest expense in an amount similar to the prior year 2019s expense .', 'with few exceptions , snap-on is no longer subject to u.s .', 'federal and state/local income tax examinations by tax authorities for years prior to 2003 , and snap-on is no longer subject to non-u.s .', 'income tax examinations by tax authorities for years prior to 2001 .', 'the undistributed earnings of all non-u.s .', 'subsidiaries totaled $ 338.5 million , $ 247.4 million and $ 173.6 million at the end of fiscal 2007 , 2006 and 2005 , respectively .', 'snap-on has not provided any deferred taxes on these undistributed earnings as it considers the undistributed earnings to be permanently invested .', 'determination of the amount of unrecognized deferred income tax liability related to these earnings is not practicable .', 'the american jobs creation act of 2004 ( the 201cajca 201d ) created a one-time tax incentive for u.s .', 'corporations to repatriate accumulated foreign earnings by providing a tax deduction of 85% ( 85 % ) of qualifying dividends received from foreign affiliates .', 'under the provisions of the ajca , snap-on repatriated approximately $ 93 million of qualifying dividends in 2005 that resulted in additional income tax expense of $ 3.3 million for the year .', 'note 9 : short-term and long-term debt notes payable and long-term debt as of december 29 , 2007 , was $ 517.9 million ; no commercial paper was outstanding at december 29 , 2007 .', 'as of december 30 , 2006 , notes payable and long-term debt was $ 549.2 million , including $ 314.9 million of commercial paper .', 'snap-on presented $ 300 million of the december 30 , 2006 , outstanding commercial paper as 201clong-term debt 201d on the accompanying december 30 , 2006 , consolidated balance sheet .', 'on january 12 , 2007 , snap-on sold $ 300 million of unsecured notes consisting of $ 150 million of floating rate notes that mature on january 12 , 2010 , and $ 150 million of fixed rate notes that mature on january 15 , 2017 .', 'interest on the floating rate notes accrues at a rate equal to the three-month london interbank offer rate plus 0.13% ( 0.13 % ) per year and is payable quarterly .', 'interest on the fixed rate notes accrues at a rate of 5.50% ( 5.50 % ) per year and is payable semi-annually .', 'snap-on used the proceeds from the sale of the notes , net of $ 1.5 million of transaction costs , to repay commercial paper obligations issued to finance the acquisition of business solutions .', 'on january 12 , 2007 , the company also terminated a $ 250 million bridge credit agreement that snap-on established prior to its acquisition of business solutions. .'] | -0.12207 | SNA/2007/page_80.pdf-1 | ['notes to consolidated financial statements ( continued ) | 72 snap-on incorporated following is a reconciliation of the beginning and ending amount of unrecognized tax benefits : ( amounts in millions ) amount .'] | ['of the $ 18.7 million of unrecognized tax benefits at the end of 2007 , approximately $ 16.2 million would impact the effective income tax rate if recognized .', 'interest and penalties related to unrecognized tax benefits are recorded in income tax expense .', 'during the years ended december 29 , 2007 , december 30 , 2006 , and december 31 , 2005 , the company recognized approximately $ 1.2 million , $ 0.5 million and ( $ 0.5 ) million in net interest expense ( benefit ) , respectively .', 'the company has provided for approximately $ 3.4 million , $ 2.2 million , and $ 1.7 million of accrued interest related to unrecognized tax benefits at the end of fiscal year 2007 , 2006 and 2005 , respectively .', 'during the next 12 months , the company does not anticipate any significant changes to the total amount of unrecognized tax benefits , other than the accrual of additional interest expense in an amount similar to the prior year 2019s expense .', 'with few exceptions , snap-on is no longer subject to u.s .', 'federal and state/local income tax examinations by tax authorities for years prior to 2003 , and snap-on is no longer subject to non-u.s .', 'income tax examinations by tax authorities for years prior to 2001 .', 'the undistributed earnings of all non-u.s .', 'subsidiaries totaled $ 338.5 million , $ 247.4 million and $ 173.6 million at the end of fiscal 2007 , 2006 and 2005 , respectively .', 'snap-on has not provided any deferred taxes on these undistributed earnings as it considers the undistributed earnings to be permanently invested .', 'determination of the amount of unrecognized deferred income tax liability related to these earnings is not practicable .', 'the american jobs creation act of 2004 ( the 201cajca 201d ) created a one-time tax incentive for u.s .', 'corporations to repatriate accumulated foreign earnings by providing a tax deduction of 85% ( 85 % ) of qualifying dividends received from foreign affiliates .', 'under the provisions of the ajca , snap-on repatriated approximately $ 93 million of qualifying dividends in 2005 that resulted in additional income tax expense of $ 3.3 million for the year .', 'note 9 : short-term and long-term debt notes payable and long-term debt as of december 29 , 2007 , was $ 517.9 million ; no commercial paper was outstanding at december 29 , 2007 .', 'as of december 30 , 2006 , notes payable and long-term debt was $ 549.2 million , including $ 314.9 million of commercial paper .', 'snap-on presented $ 300 million of the december 30 , 2006 , outstanding commercial paper as 201clong-term debt 201d on the accompanying december 30 , 2006 , consolidated balance sheet .', 'on january 12 , 2007 , snap-on sold $ 300 million of unsecured notes consisting of $ 150 million of floating rate notes that mature on january 12 , 2010 , and $ 150 million of fixed rate notes that mature on january 15 , 2017 .', 'interest on the floating rate notes accrues at a rate equal to the three-month london interbank offer rate plus 0.13% ( 0.13 % ) per year and is payable quarterly .', 'interest on the fixed rate notes accrues at a rate of 5.50% ( 5.50 % ) per year and is payable semi-annually .', 'snap-on used the proceeds from the sale of the notes , net of $ 1.5 million of transaction costs , to repay commercial paper obligations issued to finance the acquisition of business solutions .', 'on january 12 , 2007 , the company also terminated a $ 250 million bridge credit agreement that snap-on established prior to its acquisition of business solutions. .'] | ========================================
• ( amounts in millions ), amount
• unrecognized tax benefits as of december 31 2006, $ 21.3
• gross increases 2013 tax positions in prior periods, 0.5
• gross decreases 2013 tax positions in prior periods, -0.4 ( 0.4 )
• gross increases 2013 tax positions in the current period, 0.5
• settlements with taxing authorities, -3.0 ( 3.0 )
• lapsing of statutes of limitations, -0.2 ( 0.2 )
• unrecognized tax benefits as of december 29 2007, $ 18.7
======================================== | subtract(18.7, 21.3), divide(#0, 21.3) | -0.12207 |
what was the rate of growth or decrease from 2013 to 2014 on the amex airline index | Pre-text: ['table of contents capital deployment program will be subject to market and economic conditions , applicable legal requirements and other relevant factors .', 'our capital deployment program does not obligate us to continue a dividend for any fixed period , and payment of dividends may be suspended at any time at our discretion .', 'stock performance graph the following stock performance graph and related information shall not be deemed 201csoliciting material 201d or 201cfiled 201d with the securities and exchange commission , nor shall such information be incorporated by reference into any future filings under the securities act of 1933 or the exchange act , each as amended , except to the extent that we specifically incorporate it by reference into such filing .', 'the following stock performance graph compares our cumulative total stockholder return on an annual basis on our common stock with the cumulative total return on the standard and poor 2019s 500 stock index and the amex airline index from december 9 , 2013 ( the first trading day of aag common stock ) through december 31 , 2015 .', 'the comparison assumes $ 100 was invested on december 9 , 2013 in aag common stock and in each of the foregoing indices and assumes reinvestment of dividends .', 'the stock performance shown on the graph below represents historical stock performance and is not necessarily indicative of future stock price performance. .']
######
Tabular Data:
****************************************
• , 12/9/2013, 12/31/2013, 12/31/2014, 12/31/2015
• american airlines group inc ., $ 100, $ 103, $ 219, $ 175
• amex airline index, 100, 102, 152, 127
• s&p 500, 100, 102, 114, 113
****************************************
######
Additional Information: ['purchases of equity securities by the issuer and affiliated purchasers since july 2014 , our board of directors has approved several share repurchase programs aggregating $ 7.0 billion of authority of which , as of december 31 , 2015 , $ 2.4 billion remained unused under repurchase programs .'] | 0.4902 | AAL/2015/page_51.pdf-2 | ['table of contents capital deployment program will be subject to market and economic conditions , applicable legal requirements and other relevant factors .', 'our capital deployment program does not obligate us to continue a dividend for any fixed period , and payment of dividends may be suspended at any time at our discretion .', 'stock performance graph the following stock performance graph and related information shall not be deemed 201csoliciting material 201d or 201cfiled 201d with the securities and exchange commission , nor shall such information be incorporated by reference into any future filings under the securities act of 1933 or the exchange act , each as amended , except to the extent that we specifically incorporate it by reference into such filing .', 'the following stock performance graph compares our cumulative total stockholder return on an annual basis on our common stock with the cumulative total return on the standard and poor 2019s 500 stock index and the amex airline index from december 9 , 2013 ( the first trading day of aag common stock ) through december 31 , 2015 .', 'the comparison assumes $ 100 was invested on december 9 , 2013 in aag common stock and in each of the foregoing indices and assumes reinvestment of dividends .', 'the stock performance shown on the graph below represents historical stock performance and is not necessarily indicative of future stock price performance. .'] | ['purchases of equity securities by the issuer and affiliated purchasers since july 2014 , our board of directors has approved several share repurchase programs aggregating $ 7.0 billion of authority of which , as of december 31 , 2015 , $ 2.4 billion remained unused under repurchase programs .'] | ****************************************
• , 12/9/2013, 12/31/2013, 12/31/2014, 12/31/2015
• american airlines group inc ., $ 100, $ 103, $ 219, $ 175
• amex airline index, 100, 102, 152, 127
• s&p 500, 100, 102, 114, 113
**************************************** | subtract(152, 102), divide(#0, 102) | 0.4902 |
what is the net change in warranty liability during 2017? | Background: ['2017 form 10-k | 115 and $ 1088 million , respectively , were primarily comprised of loans to dealers , and the spc 2019s liabilities of $ 1106 million and $ 1087 million , respectively , were primarily comprised of commercial paper .', 'the assets of the spc are not available to pay cat financial 2019s creditors .', 'cat financial may be obligated to perform under the guarantee if the spc experiences losses .', 'no loss has been experienced or is anticipated under this loan purchase agreement .', 'cat financial is party to agreements in the normal course of business with selected customers and caterpillar dealers in which they commit to provide a set dollar amount of financing on a pre- approved basis .', 'they also provide lines of credit to certain customers and caterpillar dealers , of which a portion remains unused as of the end of the period .', 'commitments and lines of credit generally have fixed expiration dates or other termination clauses .', 'it has been cat financial 2019s experience that not all commitments and lines of credit will be used .', 'management applies the same credit policies when making commitments and granting lines of credit as it does for any other financing .', 'cat financial does not require collateral for these commitments/ lines , but if credit is extended , collateral may be required upon funding .', 'the amount of the unused commitments and lines of credit for dealers as of december 31 , 2017 and 2016 was $ 10993 million and $ 12775 million , respectively .', 'the amount of the unused commitments and lines of credit for customers as of december 31 , 2017 and 2016 was $ 3092 million and $ 3340 million , respectively .', 'our product warranty liability is determined by applying historical claim rate experience to the current field population and dealer inventory .', 'generally , historical claim rates are based on actual warranty experience for each product by machine model/engine size by customer or dealer location ( inside or outside north america ) .', 'specific rates are developed for each product shipment month and are updated monthly based on actual warranty claim experience. .']
Data Table:
• ( millions of dollars ), 2017, 2016
• warranty liability january 1, $ 1258, $ 1354
• reduction in liability ( payments ), -860 ( 860 ), -909 ( 909 )
• increase in liability ( new warranties ), 1021, 813
• warranty liability december 31, $ 1419, $ 1258
Additional Information: ['22 .', 'environmental and legal matters the company is regulated by federal , state and international environmental laws governing our use , transport and disposal of substances and control of emissions .', 'in addition to governing our manufacturing and other operations , these laws often impact the development of our products , including , but not limited to , required compliance with air emissions standards applicable to internal combustion engines .', 'we have made , and will continue to make , significant research and development and capital expenditures to comply with these emissions standards .', 'we are engaged in remedial activities at a number of locations , often with other companies , pursuant to federal and state laws .', 'when it is probable we will pay remedial costs at a site , and those costs can be reasonably estimated , the investigation , remediation , and operating and maintenance costs are accrued against our earnings .', 'costs are accrued based on consideration of currently available data and information with respect to each individual site , including available technologies , current applicable laws and regulations , and prior remediation experience .', 'where no amount within a range of estimates is more likely , we accrue the minimum .', 'where multiple potentially responsible parties are involved , we consider our proportionate share of the probable costs .', 'in formulating the estimate of probable costs , we do not consider amounts expected to be recovered from insurance companies or others .', 'we reassess these accrued amounts on a quarterly basis .', 'the amount recorded for environmental remediation is not material and is included in accrued expenses .', 'we believe there is no more than a remote chance that a material amount for remedial activities at any individual site , or at all the sites in the aggregate , will be required .', 'on january 7 , 2015 , the company received a grand jury subpoena from the u.s .', 'district court for the central district of illinois .', 'the subpoena requests documents and information from the company relating to , among other things , financial information concerning u.s .', 'and non-u.s .', 'caterpillar subsidiaries ( including undistributed profits of non-u.s .', 'subsidiaries and the movement of cash among u.s .', 'and non-u.s .', 'subsidiaries ) .', 'the company has received additional subpoenas relating to this investigation requesting additional documents and information relating to , among other things , the purchase and resale of replacement parts by caterpillar inc .', 'and non-u.s .', 'caterpillar subsidiaries , dividend distributions of certain non-u.s .', 'caterpillar subsidiaries , and caterpillar sarl and related structures .', 'on march 2-3 , 2017 , agents with the department of commerce , the federal deposit insurance corporation and the internal revenue service executed search and seizure warrants at three facilities of the company in the peoria , illinois area , including its former corporate headquarters .', 'the warrants identify , and agents seized , documents and information related to , among other things , the export of products from the united states , the movement of products between the united states and switzerland , the relationship between caterpillar inc .', 'and caterpillar sarl , and sales outside the united states .', 'it is the company 2019s understanding that the warrants , which concern both tax and export activities , are related to the ongoing grand jury investigation .', 'the company is continuing to cooperate with this investigation .', 'the company is unable to predict the outcome or reasonably estimate any potential loss ; however , we currently believe that this matter will not have a material adverse effect on the company 2019s consolidated results of operations , financial position or liquidity .', 'on march 20 , 2014 , brazil 2019s administrative council for economic defense ( cade ) published a technical opinion which named 18 companies and over 100 individuals as defendants , including two subsidiaries of caterpillar inc. , mge - equipamentos e servi e7os ferrovi e1rios ltda .', '( mge ) and caterpillar brasil ltda .', 'the publication of the technical opinion opened cade 2019s official administrative investigation into allegations that the defendants participated in anticompetitive bid activity for the construction and maintenance of metro and train networks in brazil .', 'while companies cannot be .'] | 161.0 | CAT/2017/page_136.pdf-3 | ['2017 form 10-k | 115 and $ 1088 million , respectively , were primarily comprised of loans to dealers , and the spc 2019s liabilities of $ 1106 million and $ 1087 million , respectively , were primarily comprised of commercial paper .', 'the assets of the spc are not available to pay cat financial 2019s creditors .', 'cat financial may be obligated to perform under the guarantee if the spc experiences losses .', 'no loss has been experienced or is anticipated under this loan purchase agreement .', 'cat financial is party to agreements in the normal course of business with selected customers and caterpillar dealers in which they commit to provide a set dollar amount of financing on a pre- approved basis .', 'they also provide lines of credit to certain customers and caterpillar dealers , of which a portion remains unused as of the end of the period .', 'commitments and lines of credit generally have fixed expiration dates or other termination clauses .', 'it has been cat financial 2019s experience that not all commitments and lines of credit will be used .', 'management applies the same credit policies when making commitments and granting lines of credit as it does for any other financing .', 'cat financial does not require collateral for these commitments/ lines , but if credit is extended , collateral may be required upon funding .', 'the amount of the unused commitments and lines of credit for dealers as of december 31 , 2017 and 2016 was $ 10993 million and $ 12775 million , respectively .', 'the amount of the unused commitments and lines of credit for customers as of december 31 , 2017 and 2016 was $ 3092 million and $ 3340 million , respectively .', 'our product warranty liability is determined by applying historical claim rate experience to the current field population and dealer inventory .', 'generally , historical claim rates are based on actual warranty experience for each product by machine model/engine size by customer or dealer location ( inside or outside north america ) .', 'specific rates are developed for each product shipment month and are updated monthly based on actual warranty claim experience. .'] | ['22 .', 'environmental and legal matters the company is regulated by federal , state and international environmental laws governing our use , transport and disposal of substances and control of emissions .', 'in addition to governing our manufacturing and other operations , these laws often impact the development of our products , including , but not limited to , required compliance with air emissions standards applicable to internal combustion engines .', 'we have made , and will continue to make , significant research and development and capital expenditures to comply with these emissions standards .', 'we are engaged in remedial activities at a number of locations , often with other companies , pursuant to federal and state laws .', 'when it is probable we will pay remedial costs at a site , and those costs can be reasonably estimated , the investigation , remediation , and operating and maintenance costs are accrued against our earnings .', 'costs are accrued based on consideration of currently available data and information with respect to each individual site , including available technologies , current applicable laws and regulations , and prior remediation experience .', 'where no amount within a range of estimates is more likely , we accrue the minimum .', 'where multiple potentially responsible parties are involved , we consider our proportionate share of the probable costs .', 'in formulating the estimate of probable costs , we do not consider amounts expected to be recovered from insurance companies or others .', 'we reassess these accrued amounts on a quarterly basis .', 'the amount recorded for environmental remediation is not material and is included in accrued expenses .', 'we believe there is no more than a remote chance that a material amount for remedial activities at any individual site , or at all the sites in the aggregate , will be required .', 'on january 7 , 2015 , the company received a grand jury subpoena from the u.s .', 'district court for the central district of illinois .', 'the subpoena requests documents and information from the company relating to , among other things , financial information concerning u.s .', 'and non-u.s .', 'caterpillar subsidiaries ( including undistributed profits of non-u.s .', 'subsidiaries and the movement of cash among u.s .', 'and non-u.s .', 'subsidiaries ) .', 'the company has received additional subpoenas relating to this investigation requesting additional documents and information relating to , among other things , the purchase and resale of replacement parts by caterpillar inc .', 'and non-u.s .', 'caterpillar subsidiaries , dividend distributions of certain non-u.s .', 'caterpillar subsidiaries , and caterpillar sarl and related structures .', 'on march 2-3 , 2017 , agents with the department of commerce , the federal deposit insurance corporation and the internal revenue service executed search and seizure warrants at three facilities of the company in the peoria , illinois area , including its former corporate headquarters .', 'the warrants identify , and agents seized , documents and information related to , among other things , the export of products from the united states , the movement of products between the united states and switzerland , the relationship between caterpillar inc .', 'and caterpillar sarl , and sales outside the united states .', 'it is the company 2019s understanding that the warrants , which concern both tax and export activities , are related to the ongoing grand jury investigation .', 'the company is continuing to cooperate with this investigation .', 'the company is unable to predict the outcome or reasonably estimate any potential loss ; however , we currently believe that this matter will not have a material adverse effect on the company 2019s consolidated results of operations , financial position or liquidity .', 'on march 20 , 2014 , brazil 2019s administrative council for economic defense ( cade ) published a technical opinion which named 18 companies and over 100 individuals as defendants , including two subsidiaries of caterpillar inc. , mge - equipamentos e servi e7os ferrovi e1rios ltda .', '( mge ) and caterpillar brasil ltda .', 'the publication of the technical opinion opened cade 2019s official administrative investigation into allegations that the defendants participated in anticompetitive bid activity for the construction and maintenance of metro and train networks in brazil .', 'while companies cannot be .'] | • ( millions of dollars ), 2017, 2016
• warranty liability january 1, $ 1258, $ 1354
• reduction in liability ( payments ), -860 ( 860 ), -909 ( 909 )
• increase in liability ( new warranties ), 1021, 813
• warranty liability december 31, $ 1419, $ 1258 | subtract(1419, 1258) | 161.0 |
what is the growth rate in the price of shares purchased by employees from 2005 to 2006? | Pre-text: ['american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) atc mexico stock option plan 2014as of december 31 , 2006 , the company maintained a stock option plan for its atc mexico subsidiary ( atc mexico plan ) which was terminated in february 2007 .', 'the atc mexico plan provided for the issuance of options to officers , employees , directors and consultants of atc mexico , however there was no option activity and no outstanding options as of and for the years ended december 31 , 2006 and 2005 .', 'atc south america stock option plan 2014as of december 31 , 2006 , the company maintained a stock option plan for its atc south america subsidiary ( atc south america plan ) which was terminated in february 2007 .', 'the atc south america plan provided for the issuance of options to officers , employees , directors and consultants of atc south america .', 'during the year ended december 31 , 2004 , atc south america granted options to purchase 6024 shares of atc south america common stock to officers and employees , including messrs .', 'gearon and hess , who received options to purchase an approximate 6.7% ( 6.7 % ) and 1.6% ( 1.6 % ) interest , respectively .', 'such options were issued at one time with an exercise price of $ 1349 per share .', 'the exercise price per share was at fair market value on the date of issuance as determined by the board of directors with the assistance of an independent financial advisor performed at the company 2019s request .', 'the fair value of atc south america plan options granted during 2004 were $ 79 per share as determined by using the black-scholes option pricing model .', 'options granted vested upon the earlier to occur of ( a ) the exercise by or on behalf of mr .', 'gearon of his right to sell his interest in atc south america to the company , ( b ) the exercise by the company of its right to acquire mr .', 'gearon 2019s interest in atc south america , or ( c ) july 1 , 2006 .', 'these options expired ten years from the date of grant .', 'in october 2005 , in connection with the exercise by mr .', 'gearon 2019s of his right to require the company to purchase his interest in atc south america , all options granted pursuant to the atc south america stock option plan vested in full and were exercised .', 'upon exercise of these options , the holders received 4428 shares of atc south america ( representing a 7.8% ( 7.8 % ) interest ) , net of 1596 shares retained by the company to satisfy employee tax withholding obligations .', '( see note 11. ) employee stock purchase plan 2014the company also maintains an employee stock purchase plan ( espp ) for all eligible employees .', 'under the espp , shares of the company 2019s class a common stock may be purchased during bi-annual offering periods at 85% ( 85 % ) of the lower of the fair market value on the first or the last day of each offering period .', 'employees may purchase shares having a value not exceeding 15% ( 15 % ) of their gross compensation during an offering period and may not purchase more than $ 25000 worth of stock in a calendar year ( based on market values at the beginning of each offering period ) .', 'the offering periods run from june 1 through november 30 and from december 1 through may 31 of each year .', 'during the 2007 , 2006 and 2005 , offering periods , employees purchased 48886 , 53210 and 50119 shares , respectively , at weighted average prices per share of $ 33.93 , $ 24.98 and $ 15.32 , respectively .', 'the fair value of the espp offerings is estimated on the offering period commencement date using a black-scholes pricing model with the expense recognized over the expected life , which is the six month offering period over which employees accumulate payroll deductions to purchase the company 2019s class a common stock .', 'the weighted average fair value for the espp shares purchased during 2007 , 2006 and 2005 were $ 9.09 , $ 6.79 and $ 5.15 , respectively .', 'at december 31 , 2007 , 3895402 shares remain reserved for future issuance under the plan .', 'key assumptions used to apply this pricing model for the years ended december 31 , are as follows: .']
Table:
****************************************
| 2007 | 2006 | 2005
range of risk free interest rates | 4.98% ( 4.98 % ) 20145.05% ( 20145.05 % ) | 5.01% ( 5.01 % ) 20145.17% ( 20145.17 % ) | 3.17% ( 3.17 % ) 20144.30% ( 20144.30 % )
weighted average risk-free interest rate | 5.02% ( 5.02 % ) | 5.08% ( 5.08 % ) | 3.72% ( 3.72 % )
expected life of the shares | 6 months | 6 months | 6 months
range of expected volatility of underlying stock price | 27.5% ( 27.5 % ) 201428.7% ( 201428.7 % ) | 29.6% ( 29.6 % ) | 29.6% ( 29.6 % ) 201477.8% ( 201477.8 % )
weighted average expected volatility of underlying stock price | 28.2% ( 28.2 % ) | 29.6% ( 29.6 % ) | 54.30% ( 54.30 % )
expected annual dividends | n/a | n/a | n/a
****************************************
Additional Information: ['.'] | 0.63055 | AMT/2007/page_127.pdf-3 | ['american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) atc mexico stock option plan 2014as of december 31 , 2006 , the company maintained a stock option plan for its atc mexico subsidiary ( atc mexico plan ) which was terminated in february 2007 .', 'the atc mexico plan provided for the issuance of options to officers , employees , directors and consultants of atc mexico , however there was no option activity and no outstanding options as of and for the years ended december 31 , 2006 and 2005 .', 'atc south america stock option plan 2014as of december 31 , 2006 , the company maintained a stock option plan for its atc south america subsidiary ( atc south america plan ) which was terminated in february 2007 .', 'the atc south america plan provided for the issuance of options to officers , employees , directors and consultants of atc south america .', 'during the year ended december 31 , 2004 , atc south america granted options to purchase 6024 shares of atc south america common stock to officers and employees , including messrs .', 'gearon and hess , who received options to purchase an approximate 6.7% ( 6.7 % ) and 1.6% ( 1.6 % ) interest , respectively .', 'such options were issued at one time with an exercise price of $ 1349 per share .', 'the exercise price per share was at fair market value on the date of issuance as determined by the board of directors with the assistance of an independent financial advisor performed at the company 2019s request .', 'the fair value of atc south america plan options granted during 2004 were $ 79 per share as determined by using the black-scholes option pricing model .', 'options granted vested upon the earlier to occur of ( a ) the exercise by or on behalf of mr .', 'gearon of his right to sell his interest in atc south america to the company , ( b ) the exercise by the company of its right to acquire mr .', 'gearon 2019s interest in atc south america , or ( c ) july 1 , 2006 .', 'these options expired ten years from the date of grant .', 'in october 2005 , in connection with the exercise by mr .', 'gearon 2019s of his right to require the company to purchase his interest in atc south america , all options granted pursuant to the atc south america stock option plan vested in full and were exercised .', 'upon exercise of these options , the holders received 4428 shares of atc south america ( representing a 7.8% ( 7.8 % ) interest ) , net of 1596 shares retained by the company to satisfy employee tax withholding obligations .', '( see note 11. ) employee stock purchase plan 2014the company also maintains an employee stock purchase plan ( espp ) for all eligible employees .', 'under the espp , shares of the company 2019s class a common stock may be purchased during bi-annual offering periods at 85% ( 85 % ) of the lower of the fair market value on the first or the last day of each offering period .', 'employees may purchase shares having a value not exceeding 15% ( 15 % ) of their gross compensation during an offering period and may not purchase more than $ 25000 worth of stock in a calendar year ( based on market values at the beginning of each offering period ) .', 'the offering periods run from june 1 through november 30 and from december 1 through may 31 of each year .', 'during the 2007 , 2006 and 2005 , offering periods , employees purchased 48886 , 53210 and 50119 shares , respectively , at weighted average prices per share of $ 33.93 , $ 24.98 and $ 15.32 , respectively .', 'the fair value of the espp offerings is estimated on the offering period commencement date using a black-scholes pricing model with the expense recognized over the expected life , which is the six month offering period over which employees accumulate payroll deductions to purchase the company 2019s class a common stock .', 'the weighted average fair value for the espp shares purchased during 2007 , 2006 and 2005 were $ 9.09 , $ 6.79 and $ 5.15 , respectively .', 'at december 31 , 2007 , 3895402 shares remain reserved for future issuance under the plan .', 'key assumptions used to apply this pricing model for the years ended december 31 , are as follows: .'] | ['.'] | ****************************************
| 2007 | 2006 | 2005
range of risk free interest rates | 4.98% ( 4.98 % ) 20145.05% ( 20145.05 % ) | 5.01% ( 5.01 % ) 20145.17% ( 20145.17 % ) | 3.17% ( 3.17 % ) 20144.30% ( 20144.30 % )
weighted average risk-free interest rate | 5.02% ( 5.02 % ) | 5.08% ( 5.08 % ) | 3.72% ( 3.72 % )
expected life of the shares | 6 months | 6 months | 6 months
range of expected volatility of underlying stock price | 27.5% ( 27.5 % ) 201428.7% ( 201428.7 % ) | 29.6% ( 29.6 % ) | 29.6% ( 29.6 % ) 201477.8% ( 201477.8 % )
weighted average expected volatility of underlying stock price | 28.2% ( 28.2 % ) | 29.6% ( 29.6 % ) | 54.30% ( 54.30 % )
expected annual dividends | n/a | n/a | n/a
**************************************** | subtract(24.98, 15.32), divide(#0, 15.32) | 0.63055 |
what is the operating margin for connected fitness in 2014? | Context: ['2022 net revenues in our connected fitness operating segment increased $ 34.2 million to $ 53.4 million in 2015 from $ 19.2 million in 2014 primarily due to revenues generated from our two connected fitness acquisitions in 2015 and growth in our existing connected fitness business .', 'operating income ( loss ) by segment is summarized below: .']
Data Table:
****************************************
( in thousands ) year ended december 31 , 2015 year ended december 31 , 2014 year ended december 31 , $ change year ended december 31 , % ( % ) change
north america $ 460961 $ 372347 $ 88614 23.8% ( 23.8 % )
emea 3122 -11763 ( 11763 ) 14885 126.5
asia-pacific 36358 21858 14500 66.3
latin america -30593 ( 30593 ) -15423 ( 15423 ) -15170 ( 15170 ) -98.4 ( 98.4 )
connected fitness -61301 ( 61301 ) -13064 ( 13064 ) -48237 ( 48237 ) -369.2 ( 369.2 )
total operating income $ 408547 $ 353955 $ 54592 15.4% ( 15.4 % )
****************************************
Post-table: ['the increase in total operating income was driven by the following : 2022 operating income in our north america operating segment increased $ 88.6 million to $ 461.0 million in 2015 from $ 372.4 million in 2014 primarily due to the items discussed above in the consolidated results of operations .', '2022 operating income in our emea operating segment increased $ 14.9 million to $ 3.1 million in 2015 from a loss of $ 11.8 million in 2014 primarily due to sales growth discussed above in the consolidated results of operations .', '2022 operating income in our asia-pacific operating segment increased $ 14.5 million to $ 36.4 million in 2015 from $ 21.9 million in 2014 primarily due to sales growth discussed above in the consolidated results of operations .', '2022 operating loss in our latin america operating segment increased $ 15.2 million to $ 30.6 million in 2015 from $ 15.4 million in 2014 primarily due to increased investments to support growth in the region and the economic challenges in brazil during the period .', 'this increase in operating loss was offset by sales growth discussed above .', '2022 operating loss in our connected fitness segment increased $ 48.2 million to $ 61.3 million in 2015 from $ 13.1 million in 2014 primarily due to investments to support growth in our connected fitness business , including the impact of our two connected fitness acquisitions in 2015 .', 'these acquisitions contributed $ 23.6 million to the operating loss for the connected fitness segment in 2015 .', 'seasonality historically , we have recognized a majority of our net revenues and a significant portion of our income from operations in the last two quarters of the year , driven primarily by increased sales volume of our products during the fall selling season , including our higher priced cold weather products , along with a larger proportion of higher margin direct to consumer sales .', 'seasonality could have an impact on the timing of accruals if the sales in the last two quarters of the year do not materialize .', 'the level of our working capital generally reflects the seasonality and growth in our business .', 'we generally expect inventory , accounts payable and certain accrued expenses to be higher in the second and third quarters in preparation for the fall selling season. .'] | -0.68042 | UAA/2016/page_52.pdf-2 | ['2022 net revenues in our connected fitness operating segment increased $ 34.2 million to $ 53.4 million in 2015 from $ 19.2 million in 2014 primarily due to revenues generated from our two connected fitness acquisitions in 2015 and growth in our existing connected fitness business .', 'operating income ( loss ) by segment is summarized below: .'] | ['the increase in total operating income was driven by the following : 2022 operating income in our north america operating segment increased $ 88.6 million to $ 461.0 million in 2015 from $ 372.4 million in 2014 primarily due to the items discussed above in the consolidated results of operations .', '2022 operating income in our emea operating segment increased $ 14.9 million to $ 3.1 million in 2015 from a loss of $ 11.8 million in 2014 primarily due to sales growth discussed above in the consolidated results of operations .', '2022 operating income in our asia-pacific operating segment increased $ 14.5 million to $ 36.4 million in 2015 from $ 21.9 million in 2014 primarily due to sales growth discussed above in the consolidated results of operations .', '2022 operating loss in our latin america operating segment increased $ 15.2 million to $ 30.6 million in 2015 from $ 15.4 million in 2014 primarily due to increased investments to support growth in the region and the economic challenges in brazil during the period .', 'this increase in operating loss was offset by sales growth discussed above .', '2022 operating loss in our connected fitness segment increased $ 48.2 million to $ 61.3 million in 2015 from $ 13.1 million in 2014 primarily due to investments to support growth in our connected fitness business , including the impact of our two connected fitness acquisitions in 2015 .', 'these acquisitions contributed $ 23.6 million to the operating loss for the connected fitness segment in 2015 .', 'seasonality historically , we have recognized a majority of our net revenues and a significant portion of our income from operations in the last two quarters of the year , driven primarily by increased sales volume of our products during the fall selling season , including our higher priced cold weather products , along with a larger proportion of higher margin direct to consumer sales .', 'seasonality could have an impact on the timing of accruals if the sales in the last two quarters of the year do not materialize .', 'the level of our working capital generally reflects the seasonality and growth in our business .', 'we generally expect inventory , accounts payable and certain accrued expenses to be higher in the second and third quarters in preparation for the fall selling season. .'] | ****************************************
( in thousands ) year ended december 31 , 2015 year ended december 31 , 2014 year ended december 31 , $ change year ended december 31 , % ( % ) change
north america $ 460961 $ 372347 $ 88614 23.8% ( 23.8 % )
emea 3122 -11763 ( 11763 ) 14885 126.5
asia-pacific 36358 21858 14500 66.3
latin america -30593 ( 30593 ) -15423 ( 15423 ) -15170 ( 15170 ) -98.4 ( 98.4 )
connected fitness -61301 ( 61301 ) -13064 ( 13064 ) -48237 ( 48237 ) -369.2 ( 369.2 )
total operating income $ 408547 $ 353955 $ 54592 15.4% ( 15.4 % )
**************************************** | divide(-13064, const_1000), divide(#0, 19.2) | -0.68042 |
in 2017 what was the ratio of the the cme group inc . stock perfomamce to the s&p | Pre-text: ['performance graph the following graph and table compares the cumulative five-year total return provided to shareholders on our class a common stock relative to the cumulative total returns of the s&p 500 index and our customized peer group .', 'the peer group includes cboe holdings , inc. , intercontinentalexchange group , inc .', 'and nasdaq , inc .', 'an investment of $ 100 ( with reinvestment of all dividends ) is assumed to have been made in our class a common stock , in the peer group and the s&p 500 index on december 31 , 2012 , and its relative performance is tracked through december 31 , 2017 .', 'comparison of 5 year cumulative total return* among cme group inc. , the s&p 500 index , and a peer group 12/12 12/13 12/14 12/15 12/16 cme group inc .', 's&p 500 peer group * $ 100 invested on 12/31/12 in stock or index , including reinvestment of dividends .', 'fiscal year ending december 31 .', 'copyright a9 2018 standard & poor 2019s , a division of s&p global .', 'all rights reserved .', 'the stock price performance included in this graph is not necessarily indicative of future stock price performance. .']
----
Table:
----------------------------------------
• , 2013, 2014, 2015, 2016, 2017
• cme group inc ., $ 164.01, $ 194.06, $ 208.95, $ 279.85, $ 370.32
• s&p 500, 132.39, 150.51, 152.59, 170.84, 208.14
• peer group, 176.61, 187.48, 219.99, 249.31, 323.23
----------------------------------------
----
Additional Information: ['unregistered sales of equity securities during the past three years there have not been any unregistered sales by the company of equity securities. .'] | 1.77919 | CME/2017/page_40.pdf-3 | ['performance graph the following graph and table compares the cumulative five-year total return provided to shareholders on our class a common stock relative to the cumulative total returns of the s&p 500 index and our customized peer group .', 'the peer group includes cboe holdings , inc. , intercontinentalexchange group , inc .', 'and nasdaq , inc .', 'an investment of $ 100 ( with reinvestment of all dividends ) is assumed to have been made in our class a common stock , in the peer group and the s&p 500 index on december 31 , 2012 , and its relative performance is tracked through december 31 , 2017 .', 'comparison of 5 year cumulative total return* among cme group inc. , the s&p 500 index , and a peer group 12/12 12/13 12/14 12/15 12/16 cme group inc .', 's&p 500 peer group * $ 100 invested on 12/31/12 in stock or index , including reinvestment of dividends .', 'fiscal year ending december 31 .', 'copyright a9 2018 standard & poor 2019s , a division of s&p global .', 'all rights reserved .', 'the stock price performance included in this graph is not necessarily indicative of future stock price performance. .'] | ['unregistered sales of equity securities during the past three years there have not been any unregistered sales by the company of equity securities. .'] | ----------------------------------------
• , 2013, 2014, 2015, 2016, 2017
• cme group inc ., $ 164.01, $ 194.06, $ 208.95, $ 279.85, $ 370.32
• s&p 500, 132.39, 150.51, 152.59, 170.84, 208.14
• peer group, 176.61, 187.48, 219.99, 249.31, 323.23
---------------------------------------- | divide(370.32, 208.14) | 1.77919 |
what is the percentage change in the balance of retained earnings during 2018 after adjustments? | Background: ['entity transfers of inventory , the income tax effects will continue to be deferred until the inventory has been sold to a third party .', 'cadence adopted the new standard on the first day of fiscal 2018 using the modified retrospective transition approach and recorded a cumulative-effect adjustment to decrease retained earnings in the amount of $ 8.3 million .', 'the cumulative-effect adjustment includes the write-off of income tax consequences deferred from prior intra-entity transfers involving assets other than inventory and new deferred tax assets for amounts not recognized under u.s .', 'gaap .', 'we anticipate the potential for increased volatility in future effective tax rates from the adoption of this guidance .', 'stock-based compensation in may 2017 , the fasb issued asu 2017-09 , 201ccompensation 2014stock compensation ( topic 718 ) : scope of modification accounting , 201d that provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting .', 'cadence adopted the standard on the first day of fiscal 2018 .', 'the adoption of this standard did not impact cadence 2019s consolidated financial statements or the related disclosures .', 'cumulative effect adjustments to retained earnings the following table presents the cumulative effect adjustments , net of income tax effects , to beginning retained earnings for new accounting standards adopted by cadence on the first day of fiscal 2018 : retained earnings ( in thousands ) .']
----
Tabular Data:
----------------------------------------
retained earnings ( in thousands )
balance december 30 2017 as previously reported $ 341003
cumulative effect adjustment from the adoption of new accounting standards:
revenue from contracts with customers ( topic 606 ) * 91640
financial instruments 2014overall ( subtopic 825-10 ) : recognition and measurement of financial assets and financial liabilities 2638
income taxes ( topic 740 ) : intra-entity transfers of assets other than inventory -8349 ( 8349 )
balance december 30 2017 as adjusted 426932
net income 345777
balance december 29 2018 $ 772709
----------------------------------------
----
Post-table: ['* the cumulative effect adjustment from the adoption of revenue from contracts with customers ( topic 606 ) is presented net of the related income tax effect of $ 17.5 million .', 'new accounting standards not yet adopted leases in february 2016 , the fasb issued asu 2016-02 , 201cleases ( topic 842 ) , 201d requiring , among other things , the recognition of lease liabilities and corresponding right-of-use assets on the balance sheet by lessees for all leases with a term longer than 12 months .', 'the new standard is effective for cadence in the first quarter of fiscal 2019 .', 'a modified retrospective approach is required , applying the new standard to leases existing as of the date of initial application .', 'an entity may choose to apply the standard as of either its effective date or the beginning of the earliest comparative period presented in the financial statements .', 'cadence adopted the new standard on december 30 , 2018 , the first day of fiscal 2019 , and used the effective date as the date of initial application .', 'consequently , financial information will not be updated and the disclosures required under the new standard will not be provided for dates and periods prior to the first quarter of fiscal 2019 .', 'cadence elected certain practical expedients permitted under the transition guidance within the new standard , which among other things , allowed cadence to carry forward its prior conclusions about lease identification and classification. .'] | 0.80991 | CDNS/2018/page_66.pdf-1 | ['entity transfers of inventory , the income tax effects will continue to be deferred until the inventory has been sold to a third party .', 'cadence adopted the new standard on the first day of fiscal 2018 using the modified retrospective transition approach and recorded a cumulative-effect adjustment to decrease retained earnings in the amount of $ 8.3 million .', 'the cumulative-effect adjustment includes the write-off of income tax consequences deferred from prior intra-entity transfers involving assets other than inventory and new deferred tax assets for amounts not recognized under u.s .', 'gaap .', 'we anticipate the potential for increased volatility in future effective tax rates from the adoption of this guidance .', 'stock-based compensation in may 2017 , the fasb issued asu 2017-09 , 201ccompensation 2014stock compensation ( topic 718 ) : scope of modification accounting , 201d that provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting .', 'cadence adopted the standard on the first day of fiscal 2018 .', 'the adoption of this standard did not impact cadence 2019s consolidated financial statements or the related disclosures .', 'cumulative effect adjustments to retained earnings the following table presents the cumulative effect adjustments , net of income tax effects , to beginning retained earnings for new accounting standards adopted by cadence on the first day of fiscal 2018 : retained earnings ( in thousands ) .'] | ['* the cumulative effect adjustment from the adoption of revenue from contracts with customers ( topic 606 ) is presented net of the related income tax effect of $ 17.5 million .', 'new accounting standards not yet adopted leases in february 2016 , the fasb issued asu 2016-02 , 201cleases ( topic 842 ) , 201d requiring , among other things , the recognition of lease liabilities and corresponding right-of-use assets on the balance sheet by lessees for all leases with a term longer than 12 months .', 'the new standard is effective for cadence in the first quarter of fiscal 2019 .', 'a modified retrospective approach is required , applying the new standard to leases existing as of the date of initial application .', 'an entity may choose to apply the standard as of either its effective date or the beginning of the earliest comparative period presented in the financial statements .', 'cadence adopted the new standard on december 30 , 2018 , the first day of fiscal 2019 , and used the effective date as the date of initial application .', 'consequently , financial information will not be updated and the disclosures required under the new standard will not be provided for dates and periods prior to the first quarter of fiscal 2019 .', 'cadence elected certain practical expedients permitted under the transition guidance within the new standard , which among other things , allowed cadence to carry forward its prior conclusions about lease identification and classification. .'] | ----------------------------------------
retained earnings ( in thousands )
balance december 30 2017 as previously reported $ 341003
cumulative effect adjustment from the adoption of new accounting standards:
revenue from contracts with customers ( topic 606 ) * 91640
financial instruments 2014overall ( subtopic 825-10 ) : recognition and measurement of financial assets and financial liabilities 2638
income taxes ( topic 740 ) : intra-entity transfers of assets other than inventory -8349 ( 8349 )
balance december 30 2017 as adjusted 426932
net income 345777
balance december 29 2018 $ 772709
---------------------------------------- | subtract(772709, 426932), divide(#0, 426932) | 0.80991 |
was the tax benefit from the the stipulated settlement in the business combination granting customer credits greater than the change in revenue between years? | Context: ['entergy corporation and subsidiaries management 2019s financial discussion and analysis the volume/weather variance is primarily due to an increase of 1402 gwh , or 1% ( 1 % ) , in billed electricity usage , including an increase in industrial usage and the effect of more favorable weather .', 'the increase in industrial sales was primarily due to expansion in the chemicals industry and the addition of new customers , partially offset by decreased demand primarily due to extended maintenance outages for existing chemicals customers .', 'the waterford 3 replacement steam generator provision is due to a regulatory charge of approximately $ 32 million recorded in 2015 related to the uncertainty associated with the resolution of the waterford 3 replacement steam generator project .', 'see note 2 to the financial statements for a discussion of the waterford 3 replacement steam generator prudence review proceeding .', 'the miso deferral variance is primarily due to the deferral in 2014 of non-fuel miso-related charges , as approved by the lpsc and the mpsc .', 'the deferral of non-fuel miso-related charges is partially offset in other operation and maintenance expenses .', 'see note 2 to the financial statements for further discussion of the recovery of non-fuel miso-related charges .', 'the louisiana business combination customer credits variance is due to a regulatory liability of $ 107 million recorded by entergy in october 2015 as a result of the entergy gulf states louisiana and entergy louisiana business combination .', 'consistent with the terms of the stipulated settlement in the business combination proceeding , electric customers of entergy louisiana will realize customer credits associated with the business combination ; accordingly , in october 2015 , entergy recorded a regulatory liability of $ 107 million ( $ 66 million net-of-tax ) .', 'see note 2 to the financial statements for further discussion of the business combination and customer credits .', 'entergy wholesale commodities following is an analysis of the change in net revenue comparing 2015 to 2014 .', 'amount ( in millions ) .']
Table:
----------------------------------------
• , amount ( in millions )
• 2014 net revenue, $ 2224
• nuclear realized price changes, -310 ( 310 )
• vermont yankee shutdown in december 2014, -305 ( 305 )
• nuclear volume excluding vermont yankee effect, 20
• other, 37
• 2015 net revenue, $ 1666
----------------------------------------
Follow-up: ['as shown in the table above , net revenue for entergy wholesale commodities decreased by approximately $ 558 million in 2016 primarily due to : 2022 lower realized wholesale energy prices , primarily due to significantly higher northeast market power prices in 2014 , and lower capacity prices in 2015 ; and 2022 a decrease in net revenue as a result of vermont yankee ceasing power production in december 2014 .', 'the decrease was partially offset by higher volume in the entergy wholesale commodities nuclear fleet , excluding vermont yankee , resulting from fewer refueling outage days in 2015 as compared to 2014 , partially offset by more unplanned outage days in 2015 as compared to 2014. .'] | no | ETR/2016/page_24.pdf-1 | ['entergy corporation and subsidiaries management 2019s financial discussion and analysis the volume/weather variance is primarily due to an increase of 1402 gwh , or 1% ( 1 % ) , in billed electricity usage , including an increase in industrial usage and the effect of more favorable weather .', 'the increase in industrial sales was primarily due to expansion in the chemicals industry and the addition of new customers , partially offset by decreased demand primarily due to extended maintenance outages for existing chemicals customers .', 'the waterford 3 replacement steam generator provision is due to a regulatory charge of approximately $ 32 million recorded in 2015 related to the uncertainty associated with the resolution of the waterford 3 replacement steam generator project .', 'see note 2 to the financial statements for a discussion of the waterford 3 replacement steam generator prudence review proceeding .', 'the miso deferral variance is primarily due to the deferral in 2014 of non-fuel miso-related charges , as approved by the lpsc and the mpsc .', 'the deferral of non-fuel miso-related charges is partially offset in other operation and maintenance expenses .', 'see note 2 to the financial statements for further discussion of the recovery of non-fuel miso-related charges .', 'the louisiana business combination customer credits variance is due to a regulatory liability of $ 107 million recorded by entergy in october 2015 as a result of the entergy gulf states louisiana and entergy louisiana business combination .', 'consistent with the terms of the stipulated settlement in the business combination proceeding , electric customers of entergy louisiana will realize customer credits associated with the business combination ; accordingly , in october 2015 , entergy recorded a regulatory liability of $ 107 million ( $ 66 million net-of-tax ) .', 'see note 2 to the financial statements for further discussion of the business combination and customer credits .', 'entergy wholesale commodities following is an analysis of the change in net revenue comparing 2015 to 2014 .', 'amount ( in millions ) .'] | ['as shown in the table above , net revenue for entergy wholesale commodities decreased by approximately $ 558 million in 2016 primarily due to : 2022 lower realized wholesale energy prices , primarily due to significantly higher northeast market power prices in 2014 , and lower capacity prices in 2015 ; and 2022 a decrease in net revenue as a result of vermont yankee ceasing power production in december 2014 .', 'the decrease was partially offset by higher volume in the entergy wholesale commodities nuclear fleet , excluding vermont yankee , resulting from fewer refueling outage days in 2015 as compared to 2014 , partially offset by more unplanned outage days in 2015 as compared to 2014. .'] | ----------------------------------------
• , amount ( in millions )
• 2014 net revenue, $ 2224
• nuclear realized price changes, -310 ( 310 )
• vermont yankee shutdown in december 2014, -305 ( 305 )
• nuclear volume excluding vermont yankee effect, 20
• other, 37
• 2015 net revenue, $ 1666
---------------------------------------- | subtract(107, 66), subtract(2224, 1666), greater(#0, #1) | no |
what is the percent change between net revenue in 2006 and 2007? | Context: ['entergy mississippi , inc .', "management's financial discussion and analysis the net wholesale revenue variance is primarily due to lower profit on joint account sales and reduced capacity revenue from the municipal energy agency of mississippi .", 'gross operating revenues , fuel and purchased power expenses , and other regulatory charges gross operating revenues increased primarily due to an increase of $ 152.5 million in fuel cost recovery revenues due to higher fuel rates , partially offset by a decrease of $ 43 million in gross wholesale revenues due to a decrease in net generation and purchases in excess of decreased net area demand resulting in less energy available for resale sales coupled with a decrease in system agreement remedy receipts .', 'fuel and purchased power expenses increased primarily due to increases in the average market prices of natural gas and purchased power , partially offset by decreased demand and decreased recovery from customers of deferred fuel costs .', 'other regulatory charges increased primarily due to increased recovery through the grand gulf rider of grand gulf capacity costs due to higher rates and increased recovery of costs associated with the power management recovery rider .', 'there is no material effect on net income due to quarterly adjustments to the power management recovery rider .', '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 ) .']
--
Data Table:
, amount ( in millions )
2006 net revenue, $ 466.1
base revenue, 7.9
volume/weather, 4.5
transmission revenue, 4.1
transmission equalization, 4.0
reserve equalization, 3.8
attala costs, -10.2 ( 10.2 )
other, 6.7
2007 net revenue, $ 486.9
--
Follow-up: ['the base revenue variance is primarily due to a formula rate plan increase effective july 2007 .', 'the formula rate plan filing is discussed further in "state and local rate regulation" below .', 'the volume/weather variance is primarily due to increased electricity usage primarily in the residential and commercial sectors , including the effect of more favorable weather on billed electric sales in 2007 compared to 2006 .', 'billed electricity usage increased 214 gwh .', 'the increase in usage was partially offset by decreased usage in the industrial sector .', 'the transmission revenue variance is due to higher rates and the addition of new transmission customers in late 2006 .', 'the transmission equalization variance is primarily due to a revision made in 2006 of transmission equalization receipts among entergy companies .', 'the reserve equalization variance is primarily due to a revision in 2006 of reserve equalization payments among entergy companies due to a ferc ruling regarding the inclusion of interruptible loads in reserve .'] | 0.04463 | ETR/2008/page_337.pdf-4 | ['entergy mississippi , inc .', "management's financial discussion and analysis the net wholesale revenue variance is primarily due to lower profit on joint account sales and reduced capacity revenue from the municipal energy agency of mississippi .", 'gross operating revenues , fuel and purchased power expenses , and other regulatory charges gross operating revenues increased primarily due to an increase of $ 152.5 million in fuel cost recovery revenues due to higher fuel rates , partially offset by a decrease of $ 43 million in gross wholesale revenues due to a decrease in net generation and purchases in excess of decreased net area demand resulting in less energy available for resale sales coupled with a decrease in system agreement remedy receipts .', 'fuel and purchased power expenses increased primarily due to increases in the average market prices of natural gas and purchased power , partially offset by decreased demand and decreased recovery from customers of deferred fuel costs .', 'other regulatory charges increased primarily due to increased recovery through the grand gulf rider of grand gulf capacity costs due to higher rates and increased recovery of costs associated with the power management recovery rider .', 'there is no material effect on net income due to quarterly adjustments to the power management recovery rider .', '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 ) .'] | ['the base revenue variance is primarily due to a formula rate plan increase effective july 2007 .', 'the formula rate plan filing is discussed further in "state and local rate regulation" below .', 'the volume/weather variance is primarily due to increased electricity usage primarily in the residential and commercial sectors , including the effect of more favorable weather on billed electric sales in 2007 compared to 2006 .', 'billed electricity usage increased 214 gwh .', 'the increase in usage was partially offset by decreased usage in the industrial sector .', 'the transmission revenue variance is due to higher rates and the addition of new transmission customers in late 2006 .', 'the transmission equalization variance is primarily due to a revision made in 2006 of transmission equalization receipts among entergy companies .', 'the reserve equalization variance is primarily due to a revision in 2006 of reserve equalization payments among entergy companies due to a ferc ruling regarding the inclusion of interruptible loads in reserve .'] | , amount ( in millions )
2006 net revenue, $ 466.1
base revenue, 7.9
volume/weather, 4.5
transmission revenue, 4.1
transmission equalization, 4.0
reserve equalization, 3.8
attala costs, -10.2 ( 10.2 )
other, 6.7
2007 net revenue, $ 486.9 | subtract(486.9, 466.1), divide(#0, 466.1) | 0.04463 |
by what percent did total balance increase between 2018 and 2019? | Pre-text: ['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 ) : .']
######
Tabular Data:
----------------------------------------
• , 2019, 2018, 2017
• balance at beginning of fiscal year, $ 127.1, $ 148.9, $ 166.8
• additions related to purchase accounting ( 1 ), 1.0, 3.4, 7.7
• additions for tax positions taken in current year ( 2 ), 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 ( 3 ), ( 4.0 ), ( 29.4 ), ( 14.1 )
• ( reductions ) additions for currency translation adjustments, -1.7 ( 1.7 ), -9.6 ( 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
----------------------------------------
######
Additional Information: ['( 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. .'] | 0.76475 | WRK/2019/page_103.pdf-1 | ['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 ) : .'] | ['( 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. .'] | ----------------------------------------
• , 2019, 2018, 2017
• balance at beginning of fiscal year, $ 127.1, $ 148.9, $ 166.8
• additions related to purchase accounting ( 1 ), 1.0, 3.4, 7.7
• additions for tax positions taken in current year ( 2 ), 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 ( 3 ), ( 4.0 ), ( 29.4 ), ( 14.1 )
• ( reductions ) additions for currency translation adjustments, -1.7 ( 1.7 ), -9.6 ( 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
---------------------------------------- | subtract(224.3, 127.1), divide(#0, 127.1) | 0.76475 |
what percentage of total contractual obligations and commitments as of september 27 , 2003 : payments due is composed of operating leases? | Pre-text: ['under this line are primarily used by our european subsidiaries to settle intercompany sales and are denominated in the respective local currencies of its european subsidiaries .', 'the line of credit may be canceled by the bank with 30 days notice .', 'at september 27 , 2003 , there were no outstanding borrowings under this line .', 'in september 2001 we obtained a secured loan from wells fargo foothill , inc .', 'the loan agreement with wells fargo foothill , inc .', 'provides for a term loan of approximately $ 2.4 million , which we borrowed at signing , and a revolving line of credit facility .', 'the maximum amount we can borrow under the loan agreement and amendments is $ 20.0 million .', 'the loan agreement and amendments contain financial and other covenants and the actual amount which we can borrow under the line of credit at any time is based upon a formula tied to the amount of our qualifying accounts receivable .', 'in july 2003 we amended this loan agreement primarily to simplify financial covenants and to reduce the fees related to this facility .', 'the term loan accrues interest at prime plus 1.0% ( 1.0 % ) for five years .', 'the line of credit advances accrue interest at prime plus 0.25% ( 0.25 % ) .', 'the line of credit expires in september 2005 .', 'we were in compliance with all covenants as of september 27 , 2003 .', 'in april 2002 , we began an implementation project for an integrated enterprise wide software application .', 'we began operational use of this software application at the bedford , ma and newark , de facilities on november 24 , 2002 , at the danbury , ct facility on february 24 , 2003 and at the brussels , belgium location on october 2 , 2003 .', 'through september 27 , 2003 we have made payments totaling $ 3.4 million for hardware , software and consulting services representing substantially all of our capital commitments related to this implementation project .', 'most of the cost has been capitalized and we began to amortize these costs over their expected useful lives in december 2002 .', 'in september 2002 , we completed a sale/leaseback transaction for our headquarters and manufacturing facility located in bedford , massachusetts and our lorad manufacturing facility in danbury , connecticut .', 'the transaction resulted in net proceeds to us of $ 31.4 million .', 'the new lease for these facilities , including the associated land , has a term of 20 years , with four five-year year renewal terms , which we may exercise at our option .', 'the basic rent for the facilities is $ 3.2 million per year , which is subject to adjustment for increases in the consumer price index .', 'the aggregate total minimum lease payments during the initial 20-year term are $ 62.9 million .', 'in addition , we are required to maintain the facilities during the term of the lease and to pay all taxes , insurance , utilities and other costs associated with those facilities .', 'under the lease , we make customary representations and warranties and agree to certain financial covenants and indemnities .', 'in the event we default on the lease , the landlord may terminate the lease , accelerate payments and collect liquidated damages .', 'the following table summarizes our contractual obligations and commitments as of september 27 , 2003 : payments due by period ( in thousands ) contractual obligations total less than 1 year years thereafter .']
Tabular Data:
****************************************
contractual obligations | payments due by period ( in thousands ) total | payments due by period ( in thousands ) less than 1 year | payments due by period ( in thousands ) 2-3 years | payments due by period ( in thousands ) 4-5 years | payments due by period ( in thousands ) thereafter
long term debt | $ 2030 | $ 480 | $ 1550 | $ 2014 | $ 2014
operating leases | $ 62934 | $ 4371 | $ 8160 | $ 6482 | $ 43921
total contractual cash obligations | $ 64964 | $ 4851 | $ 9710 | $ 6482 | $ 43921
****************************************
Follow-up: ['except as set forth above , we do not have any other significant capital commitments .', 'we are working on several projects , with an emphasis on direct radiography plates .', 'we believe that we have sufficient funds in order to fund our expected operations over the next twelve months .', 'recent accounting pronouncements in december 2002 , sfas no .', '148 , accounting for stock-based compensation 2013 transition and disclosure was issued .', 'sfas no .', '148 amends sfas no .', '123 to provide alternative methods of transition to the fair value method of accounting for stock-based employee compensation .', 'in addition , sfas no .', '148 amends the disclosure provisions of sfas no .', '123 to require disclosure in the summary of significant accounting policies of the effects .'] | 0.96875 | HOLX/2003/page_41.pdf-2 | ['under this line are primarily used by our european subsidiaries to settle intercompany sales and are denominated in the respective local currencies of its european subsidiaries .', 'the line of credit may be canceled by the bank with 30 days notice .', 'at september 27 , 2003 , there were no outstanding borrowings under this line .', 'in september 2001 we obtained a secured loan from wells fargo foothill , inc .', 'the loan agreement with wells fargo foothill , inc .', 'provides for a term loan of approximately $ 2.4 million , which we borrowed at signing , and a revolving line of credit facility .', 'the maximum amount we can borrow under the loan agreement and amendments is $ 20.0 million .', 'the loan agreement and amendments contain financial and other covenants and the actual amount which we can borrow under the line of credit at any time is based upon a formula tied to the amount of our qualifying accounts receivable .', 'in july 2003 we amended this loan agreement primarily to simplify financial covenants and to reduce the fees related to this facility .', 'the term loan accrues interest at prime plus 1.0% ( 1.0 % ) for five years .', 'the line of credit advances accrue interest at prime plus 0.25% ( 0.25 % ) .', 'the line of credit expires in september 2005 .', 'we were in compliance with all covenants as of september 27 , 2003 .', 'in april 2002 , we began an implementation project for an integrated enterprise wide software application .', 'we began operational use of this software application at the bedford , ma and newark , de facilities on november 24 , 2002 , at the danbury , ct facility on february 24 , 2003 and at the brussels , belgium location on october 2 , 2003 .', 'through september 27 , 2003 we have made payments totaling $ 3.4 million for hardware , software and consulting services representing substantially all of our capital commitments related to this implementation project .', 'most of the cost has been capitalized and we began to amortize these costs over their expected useful lives in december 2002 .', 'in september 2002 , we completed a sale/leaseback transaction for our headquarters and manufacturing facility located in bedford , massachusetts and our lorad manufacturing facility in danbury , connecticut .', 'the transaction resulted in net proceeds to us of $ 31.4 million .', 'the new lease for these facilities , including the associated land , has a term of 20 years , with four five-year year renewal terms , which we may exercise at our option .', 'the basic rent for the facilities is $ 3.2 million per year , which is subject to adjustment for increases in the consumer price index .', 'the aggregate total minimum lease payments during the initial 20-year term are $ 62.9 million .', 'in addition , we are required to maintain the facilities during the term of the lease and to pay all taxes , insurance , utilities and other costs associated with those facilities .', 'under the lease , we make customary representations and warranties and agree to certain financial covenants and indemnities .', 'in the event we default on the lease , the landlord may terminate the lease , accelerate payments and collect liquidated damages .', 'the following table summarizes our contractual obligations and commitments as of september 27 , 2003 : payments due by period ( in thousands ) contractual obligations total less than 1 year years thereafter .'] | ['except as set forth above , we do not have any other significant capital commitments .', 'we are working on several projects , with an emphasis on direct radiography plates .', 'we believe that we have sufficient funds in order to fund our expected operations over the next twelve months .', 'recent accounting pronouncements in december 2002 , sfas no .', '148 , accounting for stock-based compensation 2013 transition and disclosure was issued .', 'sfas no .', '148 amends sfas no .', '123 to provide alternative methods of transition to the fair value method of accounting for stock-based employee compensation .', 'in addition , sfas no .', '148 amends the disclosure provisions of sfas no .', '123 to require disclosure in the summary of significant accounting policies of the effects .'] | ****************************************
contractual obligations | payments due by period ( in thousands ) total | payments due by period ( in thousands ) less than 1 year | payments due by period ( in thousands ) 2-3 years | payments due by period ( in thousands ) 4-5 years | payments due by period ( in thousands ) thereafter
long term debt | $ 2030 | $ 480 | $ 1550 | $ 2014 | $ 2014
operating leases | $ 62934 | $ 4371 | $ 8160 | $ 6482 | $ 43921
total contractual cash obligations | $ 64964 | $ 4851 | $ 9710 | $ 6482 | $ 43921
**************************************** | divide(62934, 64964) | 0.96875 |
without the 2008 voluntary pension contributions , how much cash would have been provided by operating activities , in millions? | Pre-text: ['have access to liquidity by issuing bonds to public or private investors based on our assessment of the current condition of the credit markets .', 'at december 31 , 2009 , we had a working capital surplus of approximately $ 1.0 billion , which reflects our decision to maintain additional cash reserves to enhance liquidity in response to difficult economic conditions .', 'at december 31 , 2008 , we had a working capital deficit of approximately $ 100 million .', 'historically , we have had a working capital deficit , which is common in our industry and does not indicate a lack of liquidity .', 'we maintain adequate resources and , when necessary , have access to capital to meet any daily and short-term cash requirements , and we have sufficient financial capacity to satisfy our current liabilities .', 'cash flows millions of dollars 2009 2008 2007 .']
##
Table:
========================================
Row 1: millions of dollars, 2009, 2008, 2007
Row 2: cash provided by operating activities, $ 3234, $ 4070, $ 3277
Row 3: cash used in investing activities, -2175 ( 2175 ), -2764 ( 2764 ), -2426 ( 2426 )
Row 4: cash used in financing activities, -458 ( 458 ), -935 ( 935 ), -800 ( 800 )
Row 5: net change in cash and cash equivalents, $ 601, $ 371, $ 51
========================================
##
Post-table: ['operating activities lower net income in 2009 , a reduction of $ 184 million in the outstanding balance of our accounts receivable securitization program , higher pension contributions of $ 72 million , and changes to working capital combined to decrease cash provided by operating activities compared to 2008 .', 'higher net income and changes in working capital combined to increase cash provided by operating activities in 2008 compared to 2007 .', 'in addition , accelerated tax deductions enacted in 2008 on certain new operating assets resulted in lower income tax payments in 2008 versus 2007 .', 'voluntary pension contributions in 2008 totaling $ 200 million and other pension contributions of $ 8 million partially offset the year-over-year increase versus 2007 .', 'investing activities lower capital investments and higher proceeds from asset sales drove the decrease in cash used in investing activities in 2009 versus 2008 .', 'increased capital investments and lower proceeds from asset sales drove the increase in cash used in investing activities in 2008 compared to 2007. .'] | 4270.0 | UNP/2009/page_38.pdf-1 | ['have access to liquidity by issuing bonds to public or private investors based on our assessment of the current condition of the credit markets .', 'at december 31 , 2009 , we had a working capital surplus of approximately $ 1.0 billion , which reflects our decision to maintain additional cash reserves to enhance liquidity in response to difficult economic conditions .', 'at december 31 , 2008 , we had a working capital deficit of approximately $ 100 million .', 'historically , we have had a working capital deficit , which is common in our industry and does not indicate a lack of liquidity .', 'we maintain adequate resources and , when necessary , have access to capital to meet any daily and short-term cash requirements , and we have sufficient financial capacity to satisfy our current liabilities .', 'cash flows millions of dollars 2009 2008 2007 .'] | ['operating activities lower net income in 2009 , a reduction of $ 184 million in the outstanding balance of our accounts receivable securitization program , higher pension contributions of $ 72 million , and changes to working capital combined to decrease cash provided by operating activities compared to 2008 .', 'higher net income and changes in working capital combined to increase cash provided by operating activities in 2008 compared to 2007 .', 'in addition , accelerated tax deductions enacted in 2008 on certain new operating assets resulted in lower income tax payments in 2008 versus 2007 .', 'voluntary pension contributions in 2008 totaling $ 200 million and other pension contributions of $ 8 million partially offset the year-over-year increase versus 2007 .', 'investing activities lower capital investments and higher proceeds from asset sales drove the decrease in cash used in investing activities in 2009 versus 2008 .', 'increased capital investments and lower proceeds from asset sales drove the increase in cash used in investing activities in 2008 compared to 2007. .'] | ========================================
Row 1: millions of dollars, 2009, 2008, 2007
Row 2: cash provided by operating activities, $ 3234, $ 4070, $ 3277
Row 3: cash used in investing activities, -2175 ( 2175 ), -2764 ( 2764 ), -2426 ( 2426 )
Row 4: cash used in financing activities, -458 ( 458 ), -935 ( 935 ), -800 ( 800 )
Row 5: net change in cash and cash equivalents, $ 601, $ 371, $ 51
======================================== | add(4070, 200) | 4270.0 |
assuming all options are exercised on 625 madison avenue , what year will the current agreement expire? | Pre-text: ['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 .']
##########
Tabular Data:
• december 31,, capital lease, non-cancellable operating leases
• 2010, $ 1451, $ 31347
• 2011, 1555, 28929
• 2012, 1555, 28179
• 2013, 1555, 28179
• 2014, 1555, 28179
• thereafter, 45649, 580600
• total minimum lease payments, 53320, $ 725413
• less amount representing interest, -36437 ( 36437 ),
• present value of net minimum lease payments, $ 16883,
##########
Post-table: ['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. .'] | 2068.0 | SLG/2009/page_99.pdf-3 | ['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 .'] | ['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. .'] | • december 31,, capital lease, non-cancellable operating leases
• 2010, $ 1451, $ 31347
• 2011, 1555, 28929
• 2012, 1555, 28179
• 2013, 1555, 28179
• 2014, 1555, 28179
• thereafter, 45649, 580600
• total minimum lease payments, 53320, $ 725413
• less amount representing interest, -36437 ( 36437 ),
• present value of net minimum lease payments, $ 16883, | add(2022, 23), add(#0, 23) | 2068.0 |
what was the percent of the total number of share repurchase in the fourth quarter of 2013 that was attested to upc by employees to pay stock option exercise prices | Pre-text: ['five-year performance comparison 2013 the following graph provides an indicator of cumulative total shareholder returns for the corporation as compared to the peer group index ( described above ) , the dj trans , and the s&p 500 .', 'the graph assumes that $ 100 was invested in the common stock of union pacific corporation and each index on december 31 , 2008 and that all dividends were reinvested .', 'the information below is historical in nature and is not necessarily indicative of future performance .', 'purchases of equity securities 2013 during 2013 , we repurchased 14996957 shares of our common stock at an average price of $ 152.14 .', 'the following table presents common stock repurchases during each month for the fourth quarter of 2013 : period total number of shares purchased [a] average price paid per share total number of shares purchased as part of a publicly announced plan or program [b] maximum number of shares that may yet be purchased under the plan or program [b] .']
######
Tabular Data:
========================================
Row 1: period, total number ofsharespurchased [a], averageprice paidper share, total number of sharespurchased as part ofapublicly announced planor program [b], maximum number ofshares that may yetbe purchased under the planor program [b]
Row 2: oct . 1 through oct . 31, 1405535, 153.18, 1405535, 4020650
Row 3: nov . 1 through nov . 30, 1027840, 158.66, 1025000, 2995650
Row 4: dec . 1 through dec . 31, 2500944, 163.14, 2498520, 497130
Row 5: total, 4934319, $ 159.37, 4929055, n/a
========================================
######
Post-table: ['[a] total number of shares purchased during the quarter includes approximately 5264 shares delivered or attested to upc by employees to pay stock option exercise prices , satisfy excess tax withholding obligations for stock option exercises or vesting of retention units , and pay withholding obligations for vesting of retention shares .', '[b] on april 1 , 2011 , our board of directors authorized the repurchase of up to 40 million shares of our common stock by march 31 , 2014 .', 'these repurchases may be made on the open market or through other transactions .', 'our management has sole discretion with respect to determining the timing and amount of these transactions .', 'on november 21 , 2013 , the board of directors approved the early renewal of the share repurchase program , authorizing the repurchase of 60 million common shares by december 31 , 2017 .', 'the new authorization is effective january 1 , 2014 , and replaces the previous authorization , which expired on december 31 , 2013 , three months earlier than its original expiration date. .'] | 0.00107 | UNP/2013/page_21.pdf-1 | ['five-year performance comparison 2013 the following graph provides an indicator of cumulative total shareholder returns for the corporation as compared to the peer group index ( described above ) , the dj trans , and the s&p 500 .', 'the graph assumes that $ 100 was invested in the common stock of union pacific corporation and each index on december 31 , 2008 and that all dividends were reinvested .', 'the information below is historical in nature and is not necessarily indicative of future performance .', 'purchases of equity securities 2013 during 2013 , we repurchased 14996957 shares of our common stock at an average price of $ 152.14 .', 'the following table presents common stock repurchases during each month for the fourth quarter of 2013 : period total number of shares purchased [a] average price paid per share total number of shares purchased as part of a publicly announced plan or program [b] maximum number of shares that may yet be purchased under the plan or program [b] .'] | ['[a] total number of shares purchased during the quarter includes approximately 5264 shares delivered or attested to upc by employees to pay stock option exercise prices , satisfy excess tax withholding obligations for stock option exercises or vesting of retention units , and pay withholding obligations for vesting of retention shares .', '[b] on april 1 , 2011 , our board of directors authorized the repurchase of up to 40 million shares of our common stock by march 31 , 2014 .', 'these repurchases may be made on the open market or through other transactions .', 'our management has sole discretion with respect to determining the timing and amount of these transactions .', 'on november 21 , 2013 , the board of directors approved the early renewal of the share repurchase program , authorizing the repurchase of 60 million common shares by december 31 , 2017 .', 'the new authorization is effective january 1 , 2014 , and replaces the previous authorization , which expired on december 31 , 2013 , three months earlier than its original expiration date. .'] | ========================================
Row 1: period, total number ofsharespurchased [a], averageprice paidper share, total number of sharespurchased as part ofapublicly announced planor program [b], maximum number ofshares that may yetbe purchased under the planor program [b]
Row 2: oct . 1 through oct . 31, 1405535, 153.18, 1405535, 4020650
Row 3: nov . 1 through nov . 30, 1027840, 158.66, 1025000, 2995650
Row 4: dec . 1 through dec . 31, 2500944, 163.14, 2498520, 497130
Row 5: total, 4934319, $ 159.37, 4929055, n/a
======================================== | divide(5264, 4934319) | 0.00107 |
what is the percent of the company 2019s operating leases that would be due after 2022 as part of the net commitments | Background: ['on november 18 , 2014 , the company entered into a collateralized reinsurance agreement with kilimanjaro to provide the company with catastrophe reinsurance coverage .', 'this agreement is a multi-year reinsurance contract which covers specified earthquake events .', 'the agreement provides up to $ 500000 thousand of reinsurance coverage from earthquakes in the united states , puerto rico and canada .', 'on december 1 , 2015 the company entered into two collateralized reinsurance agreements with kilimanjaro re to provide the company with catastrophe reinsurance coverage .', 'these agreements are multi-year reinsurance contracts which cover named storm and earthquake events .', 'the first agreement provides up to $ 300000 thousand of reinsurance coverage from named storms and earthquakes in the united states , puerto rico and canada .', 'the second agreement provides up to $ 325000 thousand of reinsurance coverage from named storms and earthquakes in the united states , puerto rico and canada .', 'on april 13 , 2017 the company entered into six collateralized reinsurance agreements with kilimanjaro to provide the company with annual aggregate catastrophe reinsurance coverage .', 'the initial three agreements are four year reinsurance contracts which cover named storm and earthquake events .', 'these agreements provide up to $ 225000 thousand , $ 400000 thousand and $ 325000 thousand , respectively , of annual aggregate reinsurance coverage from named storms and earthquakes in the united states , puerto rico and canada .', 'the subsequent three agreements are five year reinsurance contracts which cover named storm and earthquake events .', 'these agreements provide up to $ 50000 thousand , $ 75000 thousand and $ 175000 thousand , respectively , of annual aggregate reinsurance coverage from named storms and earthquakes in the united states , puerto rico and canada .', 'recoveries under these collateralized reinsurance agreements with kilimanjaro are primarily dependent on estimated industry level insured losses from covered events , as well as , the geographic location of the events .', 'the estimated industry level of insured losses is obtained from published estimates by an independent recognized authority on insured property losses .', 'as of december 31 , 2017 , none of the published insured loss estimates for the 2017 catastrophe events have exceeded the single event retentions under the terms of the agreements that would result in a recovery .', 'in addition , the aggregation of the to-date published insured loss estimates for the 2017 covered events have not exceeded the aggregated retentions for recovery .', 'however , if the published estimates for insured losses for the covered 2017 events increase , the aggregate losses may exceed the aggregate event retentions under the agreements , resulting in a recovery .', 'kilimanjaro has financed the various property catastrophe reinsurance coverages by issuing catastrophe bonds to unrelated , external investors .', 'on april 24 , 2014 , kilimanjaro issued $ 450000 thousand of notes ( 201cseries 2014-1 notes 201d ) .', 'on november 18 , 2014 , kilimanjaro issued $ 500000 thousand of notes ( 201cseries 2014-2 notes 201d ) .', 'on december 1 , 2015 , kilimanjaro issued $ 625000 thousand of notes ( 201cseries 2015-1 notes ) .', 'on april 13 , 2017 , kilimanjaro issued $ 950000 thousand of notes ( 201cseries 2017-1 notes ) and $ 300000 thousand of notes ( 201cseries 2017-2 notes ) .', 'the proceeds from the issuance of the notes listed above are held in reinsurance trust throughout the duration of the applicable reinsurance agreements and invested solely in us government money market funds with a rating of at least 201caaam 201d by standard & poor 2019s .', '9 .', 'operating lease agreements the future minimum rental commitments , exclusive of cost escalation clauses , at december 31 , 2017 , for all of the company 2019s operating leases with remaining non-cancelable terms in excess of one year are as follows : ( dollars in thousands ) .']
Data Table:
****************************************
2018 | $ 16990
----------|----------
2019 | 17964
2020 | 17115
2021 | 8035
2022 | 7669
thereafter | 24668
net commitments | $ 92440
( some amounts may not reconcile due to rounding. ) |
****************************************
Post-table: ['.'] | 0.26685 | RE/2017/page_145.pdf-2 | ['on november 18 , 2014 , the company entered into a collateralized reinsurance agreement with kilimanjaro to provide the company with catastrophe reinsurance coverage .', 'this agreement is a multi-year reinsurance contract which covers specified earthquake events .', 'the agreement provides up to $ 500000 thousand of reinsurance coverage from earthquakes in the united states , puerto rico and canada .', 'on december 1 , 2015 the company entered into two collateralized reinsurance agreements with kilimanjaro re to provide the company with catastrophe reinsurance coverage .', 'these agreements are multi-year reinsurance contracts which cover named storm and earthquake events .', 'the first agreement provides up to $ 300000 thousand of reinsurance coverage from named storms and earthquakes in the united states , puerto rico and canada .', 'the second agreement provides up to $ 325000 thousand of reinsurance coverage from named storms and earthquakes in the united states , puerto rico and canada .', 'on april 13 , 2017 the company entered into six collateralized reinsurance agreements with kilimanjaro to provide the company with annual aggregate catastrophe reinsurance coverage .', 'the initial three agreements are four year reinsurance contracts which cover named storm and earthquake events .', 'these agreements provide up to $ 225000 thousand , $ 400000 thousand and $ 325000 thousand , respectively , of annual aggregate reinsurance coverage from named storms and earthquakes in the united states , puerto rico and canada .', 'the subsequent three agreements are five year reinsurance contracts which cover named storm and earthquake events .', 'these agreements provide up to $ 50000 thousand , $ 75000 thousand and $ 175000 thousand , respectively , of annual aggregate reinsurance coverage from named storms and earthquakes in the united states , puerto rico and canada .', 'recoveries under these collateralized reinsurance agreements with kilimanjaro are primarily dependent on estimated industry level insured losses from covered events , as well as , the geographic location of the events .', 'the estimated industry level of insured losses is obtained from published estimates by an independent recognized authority on insured property losses .', 'as of december 31 , 2017 , none of the published insured loss estimates for the 2017 catastrophe events have exceeded the single event retentions under the terms of the agreements that would result in a recovery .', 'in addition , the aggregation of the to-date published insured loss estimates for the 2017 covered events have not exceeded the aggregated retentions for recovery .', 'however , if the published estimates for insured losses for the covered 2017 events increase , the aggregate losses may exceed the aggregate event retentions under the agreements , resulting in a recovery .', 'kilimanjaro has financed the various property catastrophe reinsurance coverages by issuing catastrophe bonds to unrelated , external investors .', 'on april 24 , 2014 , kilimanjaro issued $ 450000 thousand of notes ( 201cseries 2014-1 notes 201d ) .', 'on november 18 , 2014 , kilimanjaro issued $ 500000 thousand of notes ( 201cseries 2014-2 notes 201d ) .', 'on december 1 , 2015 , kilimanjaro issued $ 625000 thousand of notes ( 201cseries 2015-1 notes ) .', 'on april 13 , 2017 , kilimanjaro issued $ 950000 thousand of notes ( 201cseries 2017-1 notes ) and $ 300000 thousand of notes ( 201cseries 2017-2 notes ) .', 'the proceeds from the issuance of the notes listed above are held in reinsurance trust throughout the duration of the applicable reinsurance agreements and invested solely in us government money market funds with a rating of at least 201caaam 201d by standard & poor 2019s .', '9 .', 'operating lease agreements the future minimum rental commitments , exclusive of cost escalation clauses , at december 31 , 2017 , for all of the company 2019s operating leases with remaining non-cancelable terms in excess of one year are as follows : ( dollars in thousands ) .'] | ['.'] | ****************************************
2018 | $ 16990
----------|----------
2019 | 17964
2020 | 17115
2021 | 8035
2022 | 7669
thereafter | 24668
net commitments | $ 92440
( some amounts may not reconcile due to rounding. ) |
**************************************** | divide(24668, 92440) | 0.26685 |
for 2003 , treasury services was how much of the total total treasury & securities services operating revenue? | Context: ['j.p .', 'morgan chase & co .', '/ 2003 annual report 33 corporate credit allocation in 2003 , tss was assigned a corporate credit allocation of pre- tax earnings and the associated capital related to certain credit exposures managed within ib 2019s credit portfolio on behalf of clients shared with tss .', 'prior periods have been revised to reflect this allocation .', 'for 2003 , the impact to tss of this change increased pre-tax operating results by $ 36 million and average allocated capital by $ 712 million , and it decreased sva by $ 65 million .', 'pre-tax operating results were $ 46 million lower than in 2002 , reflecting lower loan volumes and higher related expenses , slightly offset by a decrease in credit costs .', 'business outlook tss revenue in 2004 is expected to benefit from improved global equity markets and from two recent acquisitions : the november 2003 acquisition of the bank one corporate trust portfolio , and the january 2004 acquisition of citigroup 2019s electronic funds services business .', 'tss also expects higher costs as it integrates these acquisitions and continues strategic investments to sup- port business expansion .', 'by client segment tss dimensions of 2003 revenue diversification by business revenue by geographic region investor services 36% ( 36 % ) other 1% ( 1 % ) institutional trust services 23% ( 23 % ) treasury services 40% ( 40 % ) large corporations 21% ( 21 % ) middle market 18% ( 18 % ) banks 11% ( 11 % ) nonbank financial institutions 44% ( 44 % ) public sector/governments 6% ( 6 % ) europe , middle east & africa 27% ( 27 % ) asia/pacific 9% ( 9 % ) the americas 64% ( 64 % ) ( a ) includes the elimination of revenue related to shared activities with chase middle market in the amount of $ 347 million .', 'year ended december 31 , operating revenue .']
------
Tabular Data:
========================================
year ended december 31 , ( in millions ) | year ended december 31 , 2003 | year ended december 31 , 2002 | change
----------|----------|----------|----------
treasury services | $ 1927 | $ 1818 | 6% ( 6 % )
investor services | 1449 | 1513 | -4 ( 4 )
institutional trust services ( a ) | 928 | 864 | 7
other ( a ) ( b ) | -312 ( 312 ) | -303 ( 303 ) | -3 ( 3 )
total treasury & securities services | $ 3992 | $ 3892 | 3% ( 3 % )
========================================
------
Additional Information: ['( a ) includes a portion of the $ 41 million gain on sale of a nonstrategic business in 2003 : $ 1 million in institutional trust services and $ 40 million in other .', '( b ) includes the elimination of revenues related to shared activities with chase middle market , and a $ 50 million gain on sale of a non-u.s .', 'securities clearing firm in 2002. .'] | 0.48272 | JPM/2003/page_35.pdf-4 | ['j.p .', 'morgan chase & co .', '/ 2003 annual report 33 corporate credit allocation in 2003 , tss was assigned a corporate credit allocation of pre- tax earnings and the associated capital related to certain credit exposures managed within ib 2019s credit portfolio on behalf of clients shared with tss .', 'prior periods have been revised to reflect this allocation .', 'for 2003 , the impact to tss of this change increased pre-tax operating results by $ 36 million and average allocated capital by $ 712 million , and it decreased sva by $ 65 million .', 'pre-tax operating results were $ 46 million lower than in 2002 , reflecting lower loan volumes and higher related expenses , slightly offset by a decrease in credit costs .', 'business outlook tss revenue in 2004 is expected to benefit from improved global equity markets and from two recent acquisitions : the november 2003 acquisition of the bank one corporate trust portfolio , and the january 2004 acquisition of citigroup 2019s electronic funds services business .', 'tss also expects higher costs as it integrates these acquisitions and continues strategic investments to sup- port business expansion .', 'by client segment tss dimensions of 2003 revenue diversification by business revenue by geographic region investor services 36% ( 36 % ) other 1% ( 1 % ) institutional trust services 23% ( 23 % ) treasury services 40% ( 40 % ) large corporations 21% ( 21 % ) middle market 18% ( 18 % ) banks 11% ( 11 % ) nonbank financial institutions 44% ( 44 % ) public sector/governments 6% ( 6 % ) europe , middle east & africa 27% ( 27 % ) asia/pacific 9% ( 9 % ) the americas 64% ( 64 % ) ( a ) includes the elimination of revenue related to shared activities with chase middle market in the amount of $ 347 million .', 'year ended december 31 , operating revenue .'] | ['( a ) includes a portion of the $ 41 million gain on sale of a nonstrategic business in 2003 : $ 1 million in institutional trust services and $ 40 million in other .', '( b ) includes the elimination of revenues related to shared activities with chase middle market , and a $ 50 million gain on sale of a non-u.s .', 'securities clearing firm in 2002. .'] | ========================================
year ended december 31 , ( in millions ) | year ended december 31 , 2003 | year ended december 31 , 2002 | change
----------|----------|----------|----------
treasury services | $ 1927 | $ 1818 | 6% ( 6 % )
investor services | 1449 | 1513 | -4 ( 4 )
institutional trust services ( a ) | 928 | 864 | 7
other ( a ) ( b ) | -312 ( 312 ) | -303 ( 303 ) | -3 ( 3 )
total treasury & securities services | $ 3992 | $ 3892 | 3% ( 3 % )
======================================== | divide(1927, 3992) | 0.48272 |
what was the percentage change in the total accounts payable and other current liabilities | Context: ['the analysis of our depreciation studies .', 'changes in the estimated service lives of our assets and their related depreciation rates are implemented prospectively .', 'under group depreciation , the historical cost ( net of salvage ) of depreciable property that is retired or replaced in the ordinary course of business is charged to accumulated depreciation and no gain or loss is recognized .', 'the historical cost of certain track assets is estimated using ( i ) inflation indices published by the bureau of labor statistics and ( ii ) the estimated useful lives of the assets as determined by our depreciation studies .', 'the indices were selected because they closely correlate with the major costs of the properties comprising the applicable track asset classes .', 'because of the number of estimates inherent in the depreciation and retirement processes and because it is impossible to precisely estimate each of these variables until a group of property is completely retired , we continually monitor the estimated service lives of our assets and the accumulated depreciation associated with each asset class to ensure our depreciation rates are appropriate .', 'in addition , we determine if the recorded amount of accumulated depreciation is deficient ( or in excess ) of the amount indicated by our depreciation studies .', 'any deficiency ( or excess ) is amortized as a component of depreciation expense over the remaining service lives of the applicable classes of assets .', 'for retirements of depreciable railroad properties that do not occur in the normal course of business , a gain or loss may be recognized if the retirement meets each of the following three conditions : ( i ) is unusual , ( ii ) is material in amount , and ( iii ) varies significantly from the retirement profile identified through our depreciation studies .', 'a gain or loss is recognized in other income when we sell land or dispose of assets that are not part of our railroad operations .', 'when we purchase an asset , we capitalize all costs necessary to make the asset ready for its intended use .', 'however , many of our assets are self-constructed .', 'a large portion of our capital expenditures is for replacement of existing track assets and other road properties , which is typically performed by our employees , and for track line expansion and other capacity projects .', 'costs that are directly attributable to capital projects ( including overhead costs ) are capitalized .', 'direct costs that are capitalized as part of self- constructed assets include material , labor , and work equipment .', 'indirect costs are capitalized if they clearly relate to the construction of the asset .', 'general and administrative expenditures are expensed as incurred .', 'normal repairs and maintenance are also expensed as incurred , while costs incurred that extend the useful life of an asset , improve the safety of our operations or improve operating efficiency are capitalized .', 'these costs are allocated using appropriate statistical bases .', 'total expense for repairs and maintenance incurred was $ 2.3 billion for 2013 , $ 2.1 billion for 2012 , and $ 2.2 billion for 2011 .', 'assets held under capital leases are recorded at the lower of the net present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease .', 'amortization expense is computed using the straight-line method over the shorter of the estimated useful lives of the assets or the period of the related lease .', '12 .', 'accounts payable and other current liabilities dec .', '31 , dec .', '31 , millions 2013 2012 .']
Table:
----------------------------------------
Row 1: millions, dec . 31 2013, dec . 312012
Row 2: accounts payable, $ 803, $ 825
Row 3: income and other taxes payable, 491, 368
Row 4: accrued wages and vacation, 385, 376
Row 5: dividends payable, 356, 318
Row 6: accrued casualty costs, 207, 213
Row 7: interest payable, 169, 172
Row 8: equipment rents payable, 96, 95
Row 9: other, 579, 556
Row 10: total accounts payable and othercurrent liabilities, $ 3086, $ 2923
----------------------------------------
Additional Information: ['.'] | 0.05576 | UNP/2013/page_73.pdf-2 | ['the analysis of our depreciation studies .', 'changes in the estimated service lives of our assets and their related depreciation rates are implemented prospectively .', 'under group depreciation , the historical cost ( net of salvage ) of depreciable property that is retired or replaced in the ordinary course of business is charged to accumulated depreciation and no gain or loss is recognized .', 'the historical cost of certain track assets is estimated using ( i ) inflation indices published by the bureau of labor statistics and ( ii ) the estimated useful lives of the assets as determined by our depreciation studies .', 'the indices were selected because they closely correlate with the major costs of the properties comprising the applicable track asset classes .', 'because of the number of estimates inherent in the depreciation and retirement processes and because it is impossible to precisely estimate each of these variables until a group of property is completely retired , we continually monitor the estimated service lives of our assets and the accumulated depreciation associated with each asset class to ensure our depreciation rates are appropriate .', 'in addition , we determine if the recorded amount of accumulated depreciation is deficient ( or in excess ) of the amount indicated by our depreciation studies .', 'any deficiency ( or excess ) is amortized as a component of depreciation expense over the remaining service lives of the applicable classes of assets .', 'for retirements of depreciable railroad properties that do not occur in the normal course of business , a gain or loss may be recognized if the retirement meets each of the following three conditions : ( i ) is unusual , ( ii ) is material in amount , and ( iii ) varies significantly from the retirement profile identified through our depreciation studies .', 'a gain or loss is recognized in other income when we sell land or dispose of assets that are not part of our railroad operations .', 'when we purchase an asset , we capitalize all costs necessary to make the asset ready for its intended use .', 'however , many of our assets are self-constructed .', 'a large portion of our capital expenditures is for replacement of existing track assets and other road properties , which is typically performed by our employees , and for track line expansion and other capacity projects .', 'costs that are directly attributable to capital projects ( including overhead costs ) are capitalized .', 'direct costs that are capitalized as part of self- constructed assets include material , labor , and work equipment .', 'indirect costs are capitalized if they clearly relate to the construction of the asset .', 'general and administrative expenditures are expensed as incurred .', 'normal repairs and maintenance are also expensed as incurred , while costs incurred that extend the useful life of an asset , improve the safety of our operations or improve operating efficiency are capitalized .', 'these costs are allocated using appropriate statistical bases .', 'total expense for repairs and maintenance incurred was $ 2.3 billion for 2013 , $ 2.1 billion for 2012 , and $ 2.2 billion for 2011 .', 'assets held under capital leases are recorded at the lower of the net present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease .', 'amortization expense is computed using the straight-line method over the shorter of the estimated useful lives of the assets or the period of the related lease .', '12 .', 'accounts payable and other current liabilities dec .', '31 , dec .', '31 , millions 2013 2012 .'] | ['.'] | ----------------------------------------
Row 1: millions, dec . 31 2013, dec . 312012
Row 2: accounts payable, $ 803, $ 825
Row 3: income and other taxes payable, 491, 368
Row 4: accrued wages and vacation, 385, 376
Row 5: dividends payable, 356, 318
Row 6: accrued casualty costs, 207, 213
Row 7: interest payable, 169, 172
Row 8: equipment rents payable, 96, 95
Row 9: other, 579, 556
Row 10: total accounts payable and othercurrent liabilities, $ 3086, $ 2923
---------------------------------------- | subtract(3086, 2923), divide(#0, 2923) | 0.05576 |
what is the range of the 2014 grant-date fair value? | Context: ['devon energy corporation and subsidiaries notes to consolidated financial statements 2013 ( continued ) restricted stock awards and units restricted stock awards and units are subject to the terms , conditions , restrictions and limitations , if any , that the compensation committee deems appropriate , including restrictions on continued employment .', 'generally , the service requirement for vesting ranges from zero to four years .', 'during the vesting period , recipients of restricted stock awards receive dividends that are not subject to restrictions or other limitations .', 'devon estimates the fair values of restricted stock awards and units as the closing price of devon 2019s common stock on the grant date of the award or unit , which is expensed over the applicable vesting period .', 'performance-based restricted stock awards performance-based restricted stock awards are granted to certain members of devon 2019s senior management .', 'vesting of the awards is dependent on devon meeting certain internal performance targets and the recipient meeting certain service requirements .', 'generally , the service requirement for vesting ranges from zero to four years .', 'in order for awards to vest , the performance target must be met in the first year , and if met , recipients are entitled to dividends on the awards over the remaining service vesting period .', 'if the performance target and service period requirements are not met , the award does not vest .', 'devon estimates the fair values of the awards as the closing price of devon 2019s common stock on the grant date of the award , which is expensed over the applicable vesting period .', 'performance share units performance share units are granted to certain members of devon 2019s senior management .', 'each unit that vests entitles the recipient to one share of devon common stock .', 'the vesting of these units is based on comparing devon 2019s tsr to the tsr of a predetermined group of fourteen peer companies over the specified two- or three- year performance period .', 'the vesting of units may be between zero and 200% ( 200 % ) of the units granted depending on devon 2019s tsr as compared to the peer group on the vesting date .', 'at the end of the vesting period , recipients receive dividend equivalents with respect to the number of units vested .', 'the fair value of each performance share unit is estimated as of the date of grant using a monte carlo simulation with the following assumptions used for all grants made under the plan : ( i ) a risk-free interest rate based on u.s .', 'treasury rates as of the grant date ; ( ii ) a volatility assumption based on the historical realized price volatility of devon and the designated peer group ; and ( iii ) an estimated ranking of devon among the designated peer group .', 'the fair value of the unit on the date of grant is expensed over the applicable vesting period .', 'the following table presents the assumptions related to performance share units granted. .']
Data Table:
----------------------------------------
, 2015, 2014, 2013
grant-date fair value, $ 81.99 2013 $ 85.05, $ 70.18 2013 $ 81.05, $ 61.27 2013 $ 63.48
risk-free interest rate, 1.06% ( 1.06 % ), 0.54% ( 0.54 % ), 0.26% ( 0.26 % ) 2013 0.36% ( 0.36 % )
volatility factor, 26.2% ( 26.2 % ), 28.8% ( 28.8 % ), 30.3% ( 30.3 % )
contractual term ( years ), 2.89, 2.89, 3.0
----------------------------------------
Post-table: ['stock options in accordance with devon 2019s incentive plans , the exercise price of stock options granted may not be less than the market value of the stock at the date of grant .', 'in addition , options granted are exercisable during a period established for each grant , which may not exceed eight years from the date of grant .', 'the recipient must pay the exercise price in cash or in common stock , or a combination thereof , at the time that the option is exercised .', 'generally , the service requirement for vesting ranges from zero to four years .', 'the fair value of stock options on .'] | 3.06 | DVN/2015/page_79.pdf-1 | ['devon energy corporation and subsidiaries notes to consolidated financial statements 2013 ( continued ) restricted stock awards and units restricted stock awards and units are subject to the terms , conditions , restrictions and limitations , if any , that the compensation committee deems appropriate , including restrictions on continued employment .', 'generally , the service requirement for vesting ranges from zero to four years .', 'during the vesting period , recipients of restricted stock awards receive dividends that are not subject to restrictions or other limitations .', 'devon estimates the fair values of restricted stock awards and units as the closing price of devon 2019s common stock on the grant date of the award or unit , which is expensed over the applicable vesting period .', 'performance-based restricted stock awards performance-based restricted stock awards are granted to certain members of devon 2019s senior management .', 'vesting of the awards is dependent on devon meeting certain internal performance targets and the recipient meeting certain service requirements .', 'generally , the service requirement for vesting ranges from zero to four years .', 'in order for awards to vest , the performance target must be met in the first year , and if met , recipients are entitled to dividends on the awards over the remaining service vesting period .', 'if the performance target and service period requirements are not met , the award does not vest .', 'devon estimates the fair values of the awards as the closing price of devon 2019s common stock on the grant date of the award , which is expensed over the applicable vesting period .', 'performance share units performance share units are granted to certain members of devon 2019s senior management .', 'each unit that vests entitles the recipient to one share of devon common stock .', 'the vesting of these units is based on comparing devon 2019s tsr to the tsr of a predetermined group of fourteen peer companies over the specified two- or three- year performance period .', 'the vesting of units may be between zero and 200% ( 200 % ) of the units granted depending on devon 2019s tsr as compared to the peer group on the vesting date .', 'at the end of the vesting period , recipients receive dividend equivalents with respect to the number of units vested .', 'the fair value of each performance share unit is estimated as of the date of grant using a monte carlo simulation with the following assumptions used for all grants made under the plan : ( i ) a risk-free interest rate based on u.s .', 'treasury rates as of the grant date ; ( ii ) a volatility assumption based on the historical realized price volatility of devon and the designated peer group ; and ( iii ) an estimated ranking of devon among the designated peer group .', 'the fair value of the unit on the date of grant is expensed over the applicable vesting period .', 'the following table presents the assumptions related to performance share units granted. .'] | ['stock options in accordance with devon 2019s incentive plans , the exercise price of stock options granted may not be less than the market value of the stock at the date of grant .', 'in addition , options granted are exercisable during a period established for each grant , which may not exceed eight years from the date of grant .', 'the recipient must pay the exercise price in cash or in common stock , or a combination thereof , at the time that the option is exercised .', 'generally , the service requirement for vesting ranges from zero to four years .', 'the fair value of stock options on .'] | ----------------------------------------
, 2015, 2014, 2013
grant-date fair value, $ 81.99 2013 $ 85.05, $ 70.18 2013 $ 81.05, $ 61.27 2013 $ 63.48
risk-free interest rate, 1.06% ( 1.06 % ), 0.54% ( 0.54 % ), 0.26% ( 0.26 % ) 2013 0.36% ( 0.36 % )
volatility factor, 26.2% ( 26.2 % ), 28.8% ( 28.8 % ), 30.3% ( 30.3 % )
contractual term ( years ), 2.89, 2.89, 3.0
---------------------------------------- | subtract(85.05, 81.99) | 3.06 |
in millions for 2017 , was the average daily var by risk category for impact of interest rates greater than equity prices? | Context: ['the goldman sachs group , inc .', 'and subsidiaries management 2019s discussion and analysis the risk committee of the board and the risk governance committee ( through delegated authority from the firmwide risk committee ) approve market risk limits and sub-limits at firmwide , business and product levels , consistent with our risk appetite statement .', 'in addition , market risk management ( through delegated authority from the risk governance committee ) sets market risk limits and sub-limits at certain product and desk levels .', 'the purpose of the firmwide limits is to assist senior management in controlling our overall risk profile .', 'sub-limits are set below the approved level of risk limits .', 'sub-limits set the desired maximum amount of exposure that may be managed by any particular business on a day-to-day basis without additional levels of senior management approval , effectively leaving day-to-day decisions to individual desk managers and traders .', 'accordingly , sub-limits are a management tool designed to ensure appropriate escalation rather than to establish maximum risk tolerance .', 'sub-limits also distribute risk among various businesses in a manner that is consistent with their level of activity and client demand , taking into account the relative performance of each area .', 'our market risk limits are monitored daily by market risk management , which is responsible for identifying and escalating , on a timely basis , instances where limits have been exceeded .', 'when a risk limit has been exceeded ( e.g. , due to positional changes or changes in market conditions , such as increased volatilities or changes in correlations ) , it is escalated to senior managers in market risk management and/or the appropriate risk committee .', 'such instances are remediated by an inventory reduction and/or a temporary or permanent increase to the risk limit .', 'model review and validation our var and stress testing models are regularly reviewed by market risk management and enhanced in order to incorporate changes in the composition of positions included in our market risk measures , as well as variations in market conditions .', 'prior to implementing significant changes to our assumptions and/or models , model risk management performs model validations .', 'significant changes to our var and stress testing models are reviewed with our chief risk officer and chief financial officer , and approved by the firmwide risk committee .', 'see 201cmodel risk management 201d for further information about the review and validation of these models .', 'systems we have made a significant investment in technology to monitor market risk including : 2030 an independent calculation of var and stress measures ; 2030 risk measures calculated at individual position levels ; 2030 attribution of risk measures to individual risk factors of each position ; 2030 the ability to report many different views of the risk measures ( e.g. , by desk , business , product type or entity ) ; 2030 the ability to produce ad hoc analyses in a timely manner .', 'metrics we analyze var at the firmwide level and a variety of more detailed levels , including by risk category , business , and region .', 'the tables below present average daily var and period-end var , as well as the high and low var for the period .', 'diversification effect in the tables below represents the difference between total var and the sum of the vars for the four risk categories .', 'this effect arises because the four market risk categories are not perfectly correlated .', 'the table below presents average daily var by risk category. .']
----
Tabular Data:
----------------------------------------
$ in millions year ended december 2017 year ended december 2016 year ended december 2015
interest rates $ 40 $ 45 $ 47
equity prices 24 25 26
currency rates 12 21 30
commodity prices 13 17 20
diversification effect -35 ( 35 ) -45 ( 45 ) -47 ( 47 )
total $ 54 $ 63 $ 76
----------------------------------------
----
Follow-up: ['our average daily var decreased to $ 54 million in 2017 from $ 63 million in 2016 , due to reductions across all risk categories , partially offset by a decrease in the diversification effect .', 'the overall decrease was primarily due to lower levels of volatility .', 'our average daily var decreased to $ 63 million in 2016 from $ 76 million in 2015 , due to reductions across all risk categories , partially offset by a decrease in the diversification effect .', 'the overall decrease was primarily due to reduced exposures .', 'goldman sachs 2017 form 10-k 91 .'] | yes | GS/2017/page_104.pdf-3 | ['the goldman sachs group , inc .', 'and subsidiaries management 2019s discussion and analysis the risk committee of the board and the risk governance committee ( through delegated authority from the firmwide risk committee ) approve market risk limits and sub-limits at firmwide , business and product levels , consistent with our risk appetite statement .', 'in addition , market risk management ( through delegated authority from the risk governance committee ) sets market risk limits and sub-limits at certain product and desk levels .', 'the purpose of the firmwide limits is to assist senior management in controlling our overall risk profile .', 'sub-limits are set below the approved level of risk limits .', 'sub-limits set the desired maximum amount of exposure that may be managed by any particular business on a day-to-day basis without additional levels of senior management approval , effectively leaving day-to-day decisions to individual desk managers and traders .', 'accordingly , sub-limits are a management tool designed to ensure appropriate escalation rather than to establish maximum risk tolerance .', 'sub-limits also distribute risk among various businesses in a manner that is consistent with their level of activity and client demand , taking into account the relative performance of each area .', 'our market risk limits are monitored daily by market risk management , which is responsible for identifying and escalating , on a timely basis , instances where limits have been exceeded .', 'when a risk limit has been exceeded ( e.g. , due to positional changes or changes in market conditions , such as increased volatilities or changes in correlations ) , it is escalated to senior managers in market risk management and/or the appropriate risk committee .', 'such instances are remediated by an inventory reduction and/or a temporary or permanent increase to the risk limit .', 'model review and validation our var and stress testing models are regularly reviewed by market risk management and enhanced in order to incorporate changes in the composition of positions included in our market risk measures , as well as variations in market conditions .', 'prior to implementing significant changes to our assumptions and/or models , model risk management performs model validations .', 'significant changes to our var and stress testing models are reviewed with our chief risk officer and chief financial officer , and approved by the firmwide risk committee .', 'see 201cmodel risk management 201d for further information about the review and validation of these models .', 'systems we have made a significant investment in technology to monitor market risk including : 2030 an independent calculation of var and stress measures ; 2030 risk measures calculated at individual position levels ; 2030 attribution of risk measures to individual risk factors of each position ; 2030 the ability to report many different views of the risk measures ( e.g. , by desk , business , product type or entity ) ; 2030 the ability to produce ad hoc analyses in a timely manner .', 'metrics we analyze var at the firmwide level and a variety of more detailed levels , including by risk category , business , and region .', 'the tables below present average daily var and period-end var , as well as the high and low var for the period .', 'diversification effect in the tables below represents the difference between total var and the sum of the vars for the four risk categories .', 'this effect arises because the four market risk categories are not perfectly correlated .', 'the table below presents average daily var by risk category. .'] | ['our average daily var decreased to $ 54 million in 2017 from $ 63 million in 2016 , due to reductions across all risk categories , partially offset by a decrease in the diversification effect .', 'the overall decrease was primarily due to lower levels of volatility .', 'our average daily var decreased to $ 63 million in 2016 from $ 76 million in 2015 , due to reductions across all risk categories , partially offset by a decrease in the diversification effect .', 'the overall decrease was primarily due to reduced exposures .', 'goldman sachs 2017 form 10-k 91 .'] | ----------------------------------------
$ in millions year ended december 2017 year ended december 2016 year ended december 2015
interest rates $ 40 $ 45 $ 47
equity prices 24 25 26
currency rates 12 21 30
commodity prices 13 17 20
diversification effect -35 ( 35 ) -45 ( 45 ) -47 ( 47 )
total $ 54 $ 63 $ 76
---------------------------------------- | greater(40, 24) | yes |
what was the ratio of the customer-related intangibles to the network location intangibles included in the financial statements of american tower corporation and subsidiaries | Pre-text: ['american tower corporation and subsidiaries notes to consolidated financial statements ( 3 ) consists of customer-related intangibles of approximately $ 75.0 million and network location intangibles of approximately $ 72.7 million .', 'the customer-related intangibles and network location intangibles are being amortized on a straight-line basis over periods of up to 20 years .', '( 4 ) the company expects that the goodwill recorded will be deductible for tax purposes .', 'the goodwill was allocated to the company 2019s international rental and management segment .', 'on september 12 , 2012 , the company entered into a definitive agreement to purchase up to approximately 348 additional communications sites from telef f3nica mexico .', 'on september 27 , 2012 and december 14 , 2012 , the company completed the purchase of 279 and 2 communications sites , for an aggregate purchase price of $ 63.5 million ( including value added tax of $ 8.8 million ) .', 'the following table summarizes the preliminary allocation of the aggregate purchase consideration paid and the amounts of assets acquired and liabilities assumed based upon their estimated fair value at the date of acquisition ( in thousands ) : preliminary purchase price allocation .']
Tabular Data:
----------------------------------------
Row 1: , preliminary purchase price allocation
Row 2: current assets, $ 8763
Row 3: non-current assets, 2332
Row 4: property and equipment, 26711
Row 5: intangible assets ( 1 ), 21079
Row 6: other non-current liabilities, -1349 ( 1349 )
Row 7: fair value of net assets acquired, $ 57536
Row 8: goodwill ( 2 ), 5998
----------------------------------------
Post-table: ['( 1 ) consists of customer-related intangibles of approximately $ 10.7 million and network location intangibles of approximately $ 10.4 million .', 'the customer-related intangibles and network location intangibles are being amortized on a straight-line basis over periods of up to 20 years .', '( 2 ) the company expects that the goodwill recorded will be deductible for tax purposes .', 'the goodwill was allocated to the company 2019s international rental and management segment .', 'on november 16 , 2012 , the company entered into an agreement to purchase up to 198 additional communications sites from telef f3nica mexico .', 'on december 14 , 2012 , the company completed the purchase of 188 communications sites , for an aggregate purchase price of $ 64.2 million ( including value added tax of $ 8.9 million ) . .'] | 1.03164 | AMT/2012/page_121.pdf-3 | ['american tower corporation and subsidiaries notes to consolidated financial statements ( 3 ) consists of customer-related intangibles of approximately $ 75.0 million and network location intangibles of approximately $ 72.7 million .', 'the customer-related intangibles and network location intangibles are being amortized on a straight-line basis over periods of up to 20 years .', '( 4 ) the company expects that the goodwill recorded will be deductible for tax purposes .', 'the goodwill was allocated to the company 2019s international rental and management segment .', 'on september 12 , 2012 , the company entered into a definitive agreement to purchase up to approximately 348 additional communications sites from telef f3nica mexico .', 'on september 27 , 2012 and december 14 , 2012 , the company completed the purchase of 279 and 2 communications sites , for an aggregate purchase price of $ 63.5 million ( including value added tax of $ 8.8 million ) .', 'the following table summarizes the preliminary allocation of the aggregate purchase consideration paid and the amounts of assets acquired and liabilities assumed based upon their estimated fair value at the date of acquisition ( in thousands ) : preliminary purchase price allocation .'] | ['( 1 ) consists of customer-related intangibles of approximately $ 10.7 million and network location intangibles of approximately $ 10.4 million .', 'the customer-related intangibles and network location intangibles are being amortized on a straight-line basis over periods of up to 20 years .', '( 2 ) the company expects that the goodwill recorded will be deductible for tax purposes .', 'the goodwill was allocated to the company 2019s international rental and management segment .', 'on november 16 , 2012 , the company entered into an agreement to purchase up to 198 additional communications sites from telef f3nica mexico .', 'on december 14 , 2012 , the company completed the purchase of 188 communications sites , for an aggregate purchase price of $ 64.2 million ( including value added tax of $ 8.9 million ) . .'] | ----------------------------------------
Row 1: , preliminary purchase price allocation
Row 2: current assets, $ 8763
Row 3: non-current assets, 2332
Row 4: property and equipment, 26711
Row 5: intangible assets ( 1 ), 21079
Row 6: other non-current liabilities, -1349 ( 1349 )
Row 7: fair value of net assets acquired, $ 57536
Row 8: goodwill ( 2 ), 5998
---------------------------------------- | divide(75.0, 72.7) | 1.03164 |
what was the 4 year return of american airlines group inc . common stock? | Pre-text: ['table of contents capital deployment program will be subject to market and economic conditions , applicable legal requirements and other relevant factors .', 'our capital deployment program does not obligate us to continue a dividend for any fixed period , and payment of dividends may be suspended at any time at our discretion .', 'stock performance graph the following stock performance graph and related information shall not be deemed 201csoliciting material 201d or 201cfiled 201d with the securities and exchange commission , nor shall such information be incorporated by reference into any future filings under the securities act of 1933 or the exchange act , each as amended , except to the extent that we specifically incorporate it by reference into such filing .', 'the following stock performance graph compares our cumulative total stockholder return on an annual basis on our common stock with the cumulative total return on the standard and poor 2019s 500 stock index and the amex airline index from december 9 , 2013 ( the first trading day of aag common stock ) through december 31 , 2015 .', 'the comparison assumes $ 100 was invested on december 9 , 2013 in aag common stock and in each of the foregoing indices and assumes reinvestment of dividends .', 'the stock performance shown on the graph below represents historical stock performance and is not necessarily indicative of future stock price performance. .']
Tabular Data:
12/9/2013 12/31/2013 12/31/2014 12/31/2015
american airlines group inc . $ 100 $ 103 $ 219 $ 175
amex airline index 100 102 152 127
s&p 500 100 102 114 113
Post-table: ['purchases of equity securities by the issuer and affiliated purchasers since july 2014 , our board of directors has approved several share repurchase programs aggregating $ 7.0 billion of authority of which , as of december 31 , 2015 , $ 2.4 billion remained unused under repurchase programs .'] | 0.75 | AAL/2015/page_51.pdf-4 | ['table of contents capital deployment program will be subject to market and economic conditions , applicable legal requirements and other relevant factors .', 'our capital deployment program does not obligate us to continue a dividend for any fixed period , and payment of dividends may be suspended at any time at our discretion .', 'stock performance graph the following stock performance graph and related information shall not be deemed 201csoliciting material 201d or 201cfiled 201d with the securities and exchange commission , nor shall such information be incorporated by reference into any future filings under the securities act of 1933 or the exchange act , each as amended , except to the extent that we specifically incorporate it by reference into such filing .', 'the following stock performance graph compares our cumulative total stockholder return on an annual basis on our common stock with the cumulative total return on the standard and poor 2019s 500 stock index and the amex airline index from december 9 , 2013 ( the first trading day of aag common stock ) through december 31 , 2015 .', 'the comparison assumes $ 100 was invested on december 9 , 2013 in aag common stock and in each of the foregoing indices and assumes reinvestment of dividends .', 'the stock performance shown on the graph below represents historical stock performance and is not necessarily indicative of future stock price performance. .'] | ['purchases of equity securities by the issuer and affiliated purchasers since july 2014 , our board of directors has approved several share repurchase programs aggregating $ 7.0 billion of authority of which , as of december 31 , 2015 , $ 2.4 billion remained unused under repurchase programs .'] | 12/9/2013 12/31/2013 12/31/2014 12/31/2015
american airlines group inc . $ 100 $ 103 $ 219 $ 175
amex airline index 100 102 152 127
s&p 500 100 102 114 113 | subtract(175, 100), divide(#0, 100) | 0.75 |
in 2011 what as the percent of the number of securities to be issued upon exercise of outstanding options authorized by the shareholders | Background: ['equity compensation plan information the following table summarizes the equity compensation plan information as of december 31 , 2011 .', 'information is included for equity compensation plans approved by the stockholders and equity compensation plans not approved by the stockholders .', 'number of securities to be issued upon exercise of outstanding options weighted average exercise number of securities remaining available for future issuance ( excluding securities reflected in column ( a ) ) equity compensation plans approved by security holders ( 1 ) 9683058 $ 78.07 7269562 equity compensation plans not approved by security holders ( 2 ) 776360 $ 42.82 .']
Tabular Data:
plan | number of securities tobe issued upon exerciseof outstanding options ( a ) | weightedaverageexerciseprice ( b ) | number of securitiesremaining available forfuture issuance ( excludingsecurities reflected incolumn ( a ) ) ( c )
----------|----------|----------|----------
equity compensation plansapproved by security holders ( 1 ) | 9683058 | $ 78.07 | 7269562
equity compensation plans notapproved by security holders ( 2 ) | 776360 | $ 42.82 | -
total | 10459418 | $ 75.46 | 7269562
Follow-up: ['( 1 ) includes the equity ownership plan , which was approved by the shareholders on may 15 , 1998 , the 2007 equity ownership plan and the 2011 equity ownership plan .', 'the 2007 equity ownership plan was approved by entergy corporation shareholders on may 12 , 2006 , and 7000000 shares of entergy corporation common stock can be issued , with no more than 2000000 shares available for non-option grants .', 'the 2011 equity ownership plan was approved by entergy corporation shareholders on may 6 , 2011 , and 5500000 shares of entergy corporation common stock can be issued from the 2011 equity ownership plan , with no more than 2000000 shares available for incentive stock option grants .', 'the equity ownership plan , the 2007 equity ownership plan and the 2011 equity ownership plan ( the 201cplans 201d ) are administered by the personnel committee of the board of directors ( other than with respect to awards granted to non-employee directors , which awards are administered by the entire board of directors ) .', 'eligibility under the plans is limited to the non-employee directors and to the officers and employees of an entergy system employer and any corporation 80% ( 80 % ) or more of whose stock ( based on voting power ) or value is owned , directly or indirectly , by entergy corporation .', 'the plans provide for the issuance of stock options , restricted shares , equity awards ( units whose value is related to the value of shares of the common stock but do not represent actual shares of common stock ) , performance awards ( performance shares or units valued by reference to shares of common stock or performance units valued by reference to financial measures or property other than common stock ) and other stock-based awards .', '( 2 ) entergy has a board-approved stock-based compensation plan .', 'however , effective may 9 , 2003 , the board has directed that no further awards be issued under that plan .', 'item 13 .', 'certain relationships and related transactions and director independence for information regarding certain relationships , related transactions and director independence of entergy corporation , see the proxy statement under the headings 201ccorporate governance - director independence 201d and 201ctransactions with related persons , 201d which information is incorporated herein by reference .', 'since december 31 , 2010 , none of the subsidiaries or any of their affiliates has participated in any transaction involving an amount in excess of $ 120000 in which any director or executive officer of any of the subsidiaries , any nominee for director , or any immediate family member of the foregoing had a material interest as contemplated by item 404 ( a ) of regulation s-k ( 201crelated party transactions 201d ) .', 'entergy corporation 2019s board of directors has adopted written policies and procedures for the review , approval or ratification of related party transactions .', 'under these policies and procedures , the corporate governance committee , or a subcommittee of the board of directors of entergy corporation composed of .'] | 0.92577 | ETR/2011/page_492.pdf-4 | ['equity compensation plan information the following table summarizes the equity compensation plan information as of december 31 , 2011 .', 'information is included for equity compensation plans approved by the stockholders and equity compensation plans not approved by the stockholders .', 'number of securities to be issued upon exercise of outstanding options weighted average exercise number of securities remaining available for future issuance ( excluding securities reflected in column ( a ) ) equity compensation plans approved by security holders ( 1 ) 9683058 $ 78.07 7269562 equity compensation plans not approved by security holders ( 2 ) 776360 $ 42.82 .'] | ['( 1 ) includes the equity ownership plan , which was approved by the shareholders on may 15 , 1998 , the 2007 equity ownership plan and the 2011 equity ownership plan .', 'the 2007 equity ownership plan was approved by entergy corporation shareholders on may 12 , 2006 , and 7000000 shares of entergy corporation common stock can be issued , with no more than 2000000 shares available for non-option grants .', 'the 2011 equity ownership plan was approved by entergy corporation shareholders on may 6 , 2011 , and 5500000 shares of entergy corporation common stock can be issued from the 2011 equity ownership plan , with no more than 2000000 shares available for incentive stock option grants .', 'the equity ownership plan , the 2007 equity ownership plan and the 2011 equity ownership plan ( the 201cplans 201d ) are administered by the personnel committee of the board of directors ( other than with respect to awards granted to non-employee directors , which awards are administered by the entire board of directors ) .', 'eligibility under the plans is limited to the non-employee directors and to the officers and employees of an entergy system employer and any corporation 80% ( 80 % ) or more of whose stock ( based on voting power ) or value is owned , directly or indirectly , by entergy corporation .', 'the plans provide for the issuance of stock options , restricted shares , equity awards ( units whose value is related to the value of shares of the common stock but do not represent actual shares of common stock ) , performance awards ( performance shares or units valued by reference to shares of common stock or performance units valued by reference to financial measures or property other than common stock ) and other stock-based awards .', '( 2 ) entergy has a board-approved stock-based compensation plan .', 'however , effective may 9 , 2003 , the board has directed that no further awards be issued under that plan .', 'item 13 .', 'certain relationships and related transactions and director independence for information regarding certain relationships , related transactions and director independence of entergy corporation , see the proxy statement under the headings 201ccorporate governance - director independence 201d and 201ctransactions with related persons , 201d which information is incorporated herein by reference .', 'since december 31 , 2010 , none of the subsidiaries or any of their affiliates has participated in any transaction involving an amount in excess of $ 120000 in which any director or executive officer of any of the subsidiaries , any nominee for director , or any immediate family member of the foregoing had a material interest as contemplated by item 404 ( a ) of regulation s-k ( 201crelated party transactions 201d ) .', 'entergy corporation 2019s board of directors has adopted written policies and procedures for the review , approval or ratification of related party transactions .', 'under these policies and procedures , the corporate governance committee , or a subcommittee of the board of directors of entergy corporation composed of .'] | plan | number of securities tobe issued upon exerciseof outstanding options ( a ) | weightedaverageexerciseprice ( b ) | number of securitiesremaining available forfuture issuance ( excludingsecurities reflected incolumn ( a ) ) ( c )
----------|----------|----------|----------
equity compensation plansapproved by security holders ( 1 ) | 9683058 | $ 78.07 | 7269562
equity compensation plans notapproved by security holders ( 2 ) | 776360 | $ 42.82 | -
total | 10459418 | $ 75.46 | 7269562 | divide(9683058, 10459418) | 0.92577 |
what is the percent increase in net cash provided by operating activities from 2014 to 2015? | Background: ['special purpose entity ( 201cspe 201d ) .', 'the spe obtained a term loan and revolving loan commitment from a third party lender , secured by liens on the assets of the spe , to finance the purchase of the accounts receivable , which included a $ 275 million term loan and a $ 25 million revolving loan commitment .', 'the revolving loan commitment may be increased by an additional $ 35 million as amounts are repaid under the term loan .', 'quintilesims has guaranteed the performance of the obligations of existing and future subsidiaries that sell and service the accounts receivable under the receivables financing facility .', 'the assets of the spe are not available to satisfy any of our obligations or any obligations of our subsidiaries .', 'as of december 31 , 2016 , the full $ 25 million of revolving loan commitment was available under the receivables financing facility .', 'we used the proceeds from the term loan under the receivables financing facility to repay in full the amount outstanding on the then outstanding revolving credit facility under its then outstanding senior secured credit agreement ( $ 150 million ) , to repay $ 25 million of the then outstanding term loan b-3 , to pay related fees and expenses and the remainder was used for general working capital purposes .', 'restrictive covenants our debt agreements provide for certain covenants and events of default customary for similar instruments , including a covenant not to exceed a specified ratio of consolidated senior secured net indebtedness to consolidated ebitda , as defined in the senior secured credit facility and a covenant to maintain a specified minimum interest coverage ratio .', 'if an event of default occurs under any of the company 2019s or the company 2019s subsidiaries 2019 financing arrangements , the creditors under such financing arrangements will be entitled to take various actions , including the acceleration of amounts due under such arrangements , and in the case of the lenders under the revolving credit facility and new term loans , other actions permitted to be taken by a secured creditor .', 'our long-term debt arrangements contain usual and customary restrictive covenants that , among other things , place limitations on our ability to declare dividends .', 'for additional information regarding these restrictive covenants , see part ii , item 5 201cmarket for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities 2014dividend policy 201d and note 11 to our audited consolidated financial statements included elsewhere in this annual report on form 10-k .', 'at december 31 , 2016 , the company was in compliance with the financial covenants under the company 2019s financing arrangements .', 'years ended december 31 , 2016 , 2015 and 2014 cash flow from operating activities .']
------
Data Table:
( in millions ) year ended december 31 , 2016 year ended december 31 , 2015 year ended december 31 , 2014
net cash provided by operating activities $ 860 $ 476 $ 433
------
Additional Information: ['2016 compared to 2015 cash provided by operating activities increased $ 384 million in 2016 as compared to 2015 .', 'the increase in cash provided by operating activities reflects the increase in net income as adjusted for non-cash items necessary to reconcile net income to cash provided by operating activities .', 'also contributing to the increase were lower payments for income taxes ( $ 15 million ) , and lower cash used in days sales outstanding ( 201cdso 201d ) and accounts payable and accrued expenses .', 'the lower cash used in dso reflects a two-day increase in dso in 2016 compared to a seven-day increase in dso in 2015 .', 'dso can shift significantly at each reporting period depending on the timing of cash receipts under contractual payment terms relative to the recognition of revenue over a project lifecycle. .'] | 0.09931 | IQV/2016/page_79.pdf-2 | ['special purpose entity ( 201cspe 201d ) .', 'the spe obtained a term loan and revolving loan commitment from a third party lender , secured by liens on the assets of the spe , to finance the purchase of the accounts receivable , which included a $ 275 million term loan and a $ 25 million revolving loan commitment .', 'the revolving loan commitment may be increased by an additional $ 35 million as amounts are repaid under the term loan .', 'quintilesims has guaranteed the performance of the obligations of existing and future subsidiaries that sell and service the accounts receivable under the receivables financing facility .', 'the assets of the spe are not available to satisfy any of our obligations or any obligations of our subsidiaries .', 'as of december 31 , 2016 , the full $ 25 million of revolving loan commitment was available under the receivables financing facility .', 'we used the proceeds from the term loan under the receivables financing facility to repay in full the amount outstanding on the then outstanding revolving credit facility under its then outstanding senior secured credit agreement ( $ 150 million ) , to repay $ 25 million of the then outstanding term loan b-3 , to pay related fees and expenses and the remainder was used for general working capital purposes .', 'restrictive covenants our debt agreements provide for certain covenants and events of default customary for similar instruments , including a covenant not to exceed a specified ratio of consolidated senior secured net indebtedness to consolidated ebitda , as defined in the senior secured credit facility and a covenant to maintain a specified minimum interest coverage ratio .', 'if an event of default occurs under any of the company 2019s or the company 2019s subsidiaries 2019 financing arrangements , the creditors under such financing arrangements will be entitled to take various actions , including the acceleration of amounts due under such arrangements , and in the case of the lenders under the revolving credit facility and new term loans , other actions permitted to be taken by a secured creditor .', 'our long-term debt arrangements contain usual and customary restrictive covenants that , among other things , place limitations on our ability to declare dividends .', 'for additional information regarding these restrictive covenants , see part ii , item 5 201cmarket for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities 2014dividend policy 201d and note 11 to our audited consolidated financial statements included elsewhere in this annual report on form 10-k .', 'at december 31 , 2016 , the company was in compliance with the financial covenants under the company 2019s financing arrangements .', 'years ended december 31 , 2016 , 2015 and 2014 cash flow from operating activities .'] | ['2016 compared to 2015 cash provided by operating activities increased $ 384 million in 2016 as compared to 2015 .', 'the increase in cash provided by operating activities reflects the increase in net income as adjusted for non-cash items necessary to reconcile net income to cash provided by operating activities .', 'also contributing to the increase were lower payments for income taxes ( $ 15 million ) , and lower cash used in days sales outstanding ( 201cdso 201d ) and accounts payable and accrued expenses .', 'the lower cash used in dso reflects a two-day increase in dso in 2016 compared to a seven-day increase in dso in 2015 .', 'dso can shift significantly at each reporting period depending on the timing of cash receipts under contractual payment terms relative to the recognition of revenue over a project lifecycle. .'] | ( in millions ) year ended december 31 , 2016 year ended december 31 , 2015 year ended december 31 , 2014
net cash provided by operating activities $ 860 $ 476 $ 433 | subtract(476, 433), divide(#0, 433) | 0.09931 |
what percentage of total maturities of long-term debt and capital lease obligations are payable after 2020? | Pre-text: ['table of contents notes to consolidated financial statements of american airlines group inc .', 'secured financings are collateralized by assets , primarily aircraft , engines , simulators , rotable aircraft parts , airport leasehold rights , route authorities and airport slots .', 'at december 31 , 2015 , the company was operating 35 aircraft under capital leases .', 'leases can generally be renewed at rates based on fair market value at the end of the lease term for a number of additional years .', 'at december 31 , 2015 , the maturities of long-term debt and capital lease obligations are as follows ( in millions ) : .']
Table:
Row 1: 2016, $ 2266
Row 2: 2017, 1598
Row 3: 2018, 2134
Row 4: 2019, 3378
Row 5: 2020, 3587
Row 6: 2021 and thereafter, 7844
Row 7: total, $ 20807
Post-table: ['( a ) 2013 credit facilities on june 27 , 2013 , american and aag entered into a credit and guaranty agreement ( as amended , restated , amended and restated or otherwise modified , the 2013 credit agreement ) with deutsche bank ag new york branch , as administrative agent , and certain lenders that originally provided for a $ 1.9 billion term loan facility scheduled to mature on june 27 , 2019 ( the 2013 term loan facility ) and a $ 1.0 billion revolving credit facility scheduled to mature on june 27 , 2018 ( the 2013 revolving facility ) .', 'the maturity of the term loan facility was subsequently extended to june 2020 and the revolving credit facility commitments were subsequently increased to $ 1.4 billion with an extended maturity date of october 10 , 2020 , all of which is further described below .', 'on may 21 , 2015 , american amended and restated the 2013 credit agreement pursuant to which it refinanced the 2013 term loan facility ( the $ 1.9 billion 2015 term loan facility and , together with the 2013 revolving facility , the 2013 credit facilities ) to extend the maturity date to june 2020 and reduce the libor margin from 3.00% ( 3.00 % ) to 2.75% ( 2.75 % ) .', 'in addition , american entered into certain amendments to reflect the ability for american to make future modifications to the collateral pledged , subject to certain restrictions .', 'the $ 1.9 billion 2015 term loan facility is repayable in annual installments , with the first installment in an amount equal to 1.25% ( 1.25 % ) of the principal amount commencing on june 27 , 2016 and installments thereafter , in an amount equal to 1.0% ( 1.0 % ) of the principal amount , with any unpaid balance due on the maturity date .', 'as of december 31 , 2015 , $ 1.9 billion of principal was outstanding under the $ 1.9 billion 2015 term loan facility .', 'voluntary prepayments may be made by american at any time .', 'on october 10 , 2014 , american and aag amended the 2013 credit agreement to extend the maturity date of the 2013 revolving facility to october 10 , 2019 and increased the commitments thereunder to an aggregate principal amount of $ 1.4 billion while reducing the letter of credit commitments thereunder to $ 300 million .', 'on october 26 , 2015 , american , aag , us airways group and us airways amended the 2013 credit agreement to extend the maturity date of the 2013 revolving facility to october 10 , 2020 .', 'the 2013 revolving facility provides that american may from time to time borrow , repay and reborrow loans thereunder and have letters of credit issued thereunder .', 'as of december 31 , 2015 , there were no borrowings or letters of credit outstanding under the 2013 revolving facility .', 'the 2013 credit facilities bear interest at an index rate plus an applicable index margin or , at american 2019s option , libor ( subject to a floor of 0.75% ( 0.75 % ) , with respect to the $ 1.9 billion 2015 term loan facility ) plus a libor margin of 3.00% ( 3.00 % ) with respect to the 2013 revolving facility and 2.75% ( 2.75 % ) with respect to the $ 1.9 billion 2015 term loan facility ; provided that american 2019s corporate credit rating is ba3 or higher from moody 2019s and bb- or higher from s&p , the applicable libor margin would be 2.50% ( 2.50 % ) for the $ 1.9 billion 2015 term loan .'] | 0.37699 | AAL/2015/page_131.pdf-4 | ['table of contents notes to consolidated financial statements of american airlines group inc .', 'secured financings are collateralized by assets , primarily aircraft , engines , simulators , rotable aircraft parts , airport leasehold rights , route authorities and airport slots .', 'at december 31 , 2015 , the company was operating 35 aircraft under capital leases .', 'leases can generally be renewed at rates based on fair market value at the end of the lease term for a number of additional years .', 'at december 31 , 2015 , the maturities of long-term debt and capital lease obligations are as follows ( in millions ) : .'] | ['( a ) 2013 credit facilities on june 27 , 2013 , american and aag entered into a credit and guaranty agreement ( as amended , restated , amended and restated or otherwise modified , the 2013 credit agreement ) with deutsche bank ag new york branch , as administrative agent , and certain lenders that originally provided for a $ 1.9 billion term loan facility scheduled to mature on june 27 , 2019 ( the 2013 term loan facility ) and a $ 1.0 billion revolving credit facility scheduled to mature on june 27 , 2018 ( the 2013 revolving facility ) .', 'the maturity of the term loan facility was subsequently extended to june 2020 and the revolving credit facility commitments were subsequently increased to $ 1.4 billion with an extended maturity date of october 10 , 2020 , all of which is further described below .', 'on may 21 , 2015 , american amended and restated the 2013 credit agreement pursuant to which it refinanced the 2013 term loan facility ( the $ 1.9 billion 2015 term loan facility and , together with the 2013 revolving facility , the 2013 credit facilities ) to extend the maturity date to june 2020 and reduce the libor margin from 3.00% ( 3.00 % ) to 2.75% ( 2.75 % ) .', 'in addition , american entered into certain amendments to reflect the ability for american to make future modifications to the collateral pledged , subject to certain restrictions .', 'the $ 1.9 billion 2015 term loan facility is repayable in annual installments , with the first installment in an amount equal to 1.25% ( 1.25 % ) of the principal amount commencing on june 27 , 2016 and installments thereafter , in an amount equal to 1.0% ( 1.0 % ) of the principal amount , with any unpaid balance due on the maturity date .', 'as of december 31 , 2015 , $ 1.9 billion of principal was outstanding under the $ 1.9 billion 2015 term loan facility .', 'voluntary prepayments may be made by american at any time .', 'on october 10 , 2014 , american and aag amended the 2013 credit agreement to extend the maturity date of the 2013 revolving facility to october 10 , 2019 and increased the commitments thereunder to an aggregate principal amount of $ 1.4 billion while reducing the letter of credit commitments thereunder to $ 300 million .', 'on october 26 , 2015 , american , aag , us airways group and us airways amended the 2013 credit agreement to extend the maturity date of the 2013 revolving facility to october 10 , 2020 .', 'the 2013 revolving facility provides that american may from time to time borrow , repay and reborrow loans thereunder and have letters of credit issued thereunder .', 'as of december 31 , 2015 , there were no borrowings or letters of credit outstanding under the 2013 revolving facility .', 'the 2013 credit facilities bear interest at an index rate plus an applicable index margin or , at american 2019s option , libor ( subject to a floor of 0.75% ( 0.75 % ) , with respect to the $ 1.9 billion 2015 term loan facility ) plus a libor margin of 3.00% ( 3.00 % ) with respect to the 2013 revolving facility and 2.75% ( 2.75 % ) with respect to the $ 1.9 billion 2015 term loan facility ; provided that american 2019s corporate credit rating is ba3 or higher from moody 2019s and bb- or higher from s&p , the applicable libor margin would be 2.50% ( 2.50 % ) for the $ 1.9 billion 2015 term loan .'] | Row 1: 2016, $ 2266
Row 2: 2017, 1598
Row 3: 2018, 2134
Row 4: 2019, 3378
Row 5: 2020, 3587
Row 6: 2021 and thereafter, 7844
Row 7: total, $ 20807 | divide(7844, 20807) | 0.37699 |
what was the change in cumulative foreign currency translation during 2013? | Pre-text: ['table of contents as of september 28 , 2013 .', 'the company 2019s share repurchase program does not obligate it to acquire any specific number of shares .', 'under the program , shares may be repurchased in privately negotiated and/or open market transactions , including under plans complying with rule 10b5-1 of the securities exchange act of 1934 , as amended ( the 201cexchange act 201d ) .', 'in august 2012 , the company entered into an accelerated share repurchase arrangement ( 201casr 201d ) with a financial institution to purchase up to $ 1.95 billion of the company 2019s common stock in 2013 .', 'in the first quarter of 2013 , 2.6 million shares were initially delivered to the company .', 'in april 2013 , the purchase period for the asr ended and an additional 1.5 million shares were delivered to the company .', 'in total , 4.1 million shares were delivered under the asr at an average repurchase price of $ 478.20 per share .', 'the shares were retired in the quarters they were delivered , and the up-front payment of $ 1.95 billion was accounted for as a reduction to shareholders 2019 equity in the company 2019s consolidated balance sheet in the first quarter of 2013 .', 'in april 2013 , the company entered into a new asr program with two financial institutions to purchase up to $ 12 billion of the company 2019s common stock .', 'in exchange for up-front payments totaling $ 12 billion , the financial institutions committed to deliver shares during the asr 2019s purchase periods , which will end during 2014 .', 'the total number of shares ultimately delivered , and therefore the average price paid per share , will be determined at the end of the applicable purchase period based on the volume weighted average price of the company 2019s stock during that period .', 'during the third quarter of 2013 , 23.5 million shares were initially delivered to the company and retired .', 'this does not represent the final number of shares to be delivered under the asr .', 'the up-front payments of $ 12 billion were accounted for as a reduction to shareholders 2019 equity in the company 2019s consolidated balance sheet .', 'the company reflected the asrs as a repurchase of common stock for purposes of calculating earnings per share and as forward contracts indexed to its own common stock .', 'the forward contracts met all of the applicable criteria for equity classification , and , therefore , were not accounted for as derivative instruments .', 'during 2013 , the company repurchased 19.4 million shares of its common stock in the open market at an average price of $ 464.11 per share for a total of $ 9.0 billion .', 'these shares were retired upon repurchase .', 'note 8 2013 comprehensive income comprehensive income consists of two components , net income and other comprehensive income .', 'other comprehensive income refers to revenue , expenses , and gains and losses that under gaap are recorded as an element of shareholders 2019 equity but are excluded from net income .', 'the company 2019s other comprehensive income consists of foreign currency translation adjustments from those subsidiaries not using the u.s .', 'dollar as their functional currency , net deferred gains and losses on certain derivative instruments accounted for as cash flow hedges , and unrealized gains and losses on marketable securities classified as available-for-sale .', 'the following table shows the components of aoci , net of taxes , as of september 28 , 2013 and september 29 , 2012 ( in millions ) : .']
##
Table:
----------------------------------------
2013 2012
cumulative foreign currency translation $ -105 ( 105 ) $ 8
net unrecognized gains/losses on derivative instruments -175 ( 175 ) -240 ( 240 )
net unrealized gains/losses on marketable securities -191 ( 191 ) 731
accumulated other comprehensive income/ ( loss ) $ -471 ( 471 ) $ 499
----------------------------------------
##
Post-table: ['.'] | -113.0 | AAPL/2013/page_72.pdf-1 | ['table of contents as of september 28 , 2013 .', 'the company 2019s share repurchase program does not obligate it to acquire any specific number of shares .', 'under the program , shares may be repurchased in privately negotiated and/or open market transactions , including under plans complying with rule 10b5-1 of the securities exchange act of 1934 , as amended ( the 201cexchange act 201d ) .', 'in august 2012 , the company entered into an accelerated share repurchase arrangement ( 201casr 201d ) with a financial institution to purchase up to $ 1.95 billion of the company 2019s common stock in 2013 .', 'in the first quarter of 2013 , 2.6 million shares were initially delivered to the company .', 'in april 2013 , the purchase period for the asr ended and an additional 1.5 million shares were delivered to the company .', 'in total , 4.1 million shares were delivered under the asr at an average repurchase price of $ 478.20 per share .', 'the shares were retired in the quarters they were delivered , and the up-front payment of $ 1.95 billion was accounted for as a reduction to shareholders 2019 equity in the company 2019s consolidated balance sheet in the first quarter of 2013 .', 'in april 2013 , the company entered into a new asr program with two financial institutions to purchase up to $ 12 billion of the company 2019s common stock .', 'in exchange for up-front payments totaling $ 12 billion , the financial institutions committed to deliver shares during the asr 2019s purchase periods , which will end during 2014 .', 'the total number of shares ultimately delivered , and therefore the average price paid per share , will be determined at the end of the applicable purchase period based on the volume weighted average price of the company 2019s stock during that period .', 'during the third quarter of 2013 , 23.5 million shares were initially delivered to the company and retired .', 'this does not represent the final number of shares to be delivered under the asr .', 'the up-front payments of $ 12 billion were accounted for as a reduction to shareholders 2019 equity in the company 2019s consolidated balance sheet .', 'the company reflected the asrs as a repurchase of common stock for purposes of calculating earnings per share and as forward contracts indexed to its own common stock .', 'the forward contracts met all of the applicable criteria for equity classification , and , therefore , were not accounted for as derivative instruments .', 'during 2013 , the company repurchased 19.4 million shares of its common stock in the open market at an average price of $ 464.11 per share for a total of $ 9.0 billion .', 'these shares were retired upon repurchase .', 'note 8 2013 comprehensive income comprehensive income consists of two components , net income and other comprehensive income .', 'other comprehensive income refers to revenue , expenses , and gains and losses that under gaap are recorded as an element of shareholders 2019 equity but are excluded from net income .', 'the company 2019s other comprehensive income consists of foreign currency translation adjustments from those subsidiaries not using the u.s .', 'dollar as their functional currency , net deferred gains and losses on certain derivative instruments accounted for as cash flow hedges , and unrealized gains and losses on marketable securities classified as available-for-sale .', 'the following table shows the components of aoci , net of taxes , as of september 28 , 2013 and september 29 , 2012 ( in millions ) : .'] | ['.'] | ----------------------------------------
2013 2012
cumulative foreign currency translation $ -105 ( 105 ) $ 8
net unrecognized gains/losses on derivative instruments -175 ( 175 ) -240 ( 240 )
net unrealized gains/losses on marketable securities -191 ( 191 ) 731
accumulated other comprehensive income/ ( loss ) $ -471 ( 471 ) $ 499
---------------------------------------- | multiply(105, const_m1), subtract(#0, const_8) | -113.0 |
what portion of the securities approved by the security holders remains available for future issunce? | Pre-text: ['part a0iii item a010 .', 'directors , executive officers and corporate governance for the information required by this item a010 with respect to our executive officers , see part a0i , item 1 .', 'of this report .', 'for the other information required by this item a010 , see 201celection of directors , 201d 201cnominees for election to the board of directors , 201d 201ccorporate governance 201d and 201csection a016 ( a ) beneficial ownership reporting compliance , 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference .', 'the proxy statement for our 2019 annual meeting will be filed within 120 a0days after the end of the fiscal year covered by this annual report on form 10-k .', 'item a011 .', 'executive compensation for the information required by this item a011 , see 201ccompensation discussion and analysis , 201d 201ccompensation committee report , 201d and 201cexecutive compensation 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference .', 'item a012 .', 'security ownership of certain beneficial owners and management and related stockholder matters for the information required by this item a012 with respect to beneficial ownership of our common stock , see 201csecurity ownership of certain beneficial owners and management 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference .', 'the following table sets forth certain information as of december a031 , 2018 regarding our equity plans : plan category number of securities to be issued upon exercise of outstanding options , warrants and rights ( 1 ) weighted-average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ( b ) ( c ) equity compensation plans approved by security holders 1471449 $ 136.62 3578241 ( 1 ) the number of securities in column ( a ) include 22290 shares of common stock underlying performance stock units if maximum performance levels are achieved ; the actual number of shares , if any , to be issued with respect to the performance stock units will be based on performance with respect to specified financial and relative stock price measures .', 'item a013 .', 'certain relationships and related transactions , and director independence for the information required by this item a013 , see 201ccertain transactions 201d and 201ccorporate governance 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference .', 'item a014 .', 'principal accounting fees and services for the information required by this item a014 , see 201caudit and non-audit fees 201d and 201caudit committee pre-approval procedures 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference. .']
Table:
plan category | number of securitiesto be issued uponexercise ofoutstanding options warrants and rights ( 1 ) ( a ) ( b ) | weighted-averageexercise price ofoutstanding options warrants and rights | number of securitiesremaining available forfuture issuance underequity compensationplans ( excludingsecurities reflected in column ( a ) ) ( c )
equity compensation plans approved by security holders | 1471449 | $ 136.62 | 3578241
Post-table: ['part a0iii item a010 .', 'directors , executive officers and corporate governance for the information required by this item a010 with respect to our executive officers , see part a0i , item 1 .', 'of this report .', 'for the other information required by this item a010 , see 201celection of directors , 201d 201cnominees for election to the board of directors , 201d 201ccorporate governance 201d and 201csection a016 ( a ) beneficial ownership reporting compliance , 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference .', 'the proxy statement for our 2019 annual meeting will be filed within 120 a0days after the end of the fiscal year covered by this annual report on form 10-k .', 'item a011 .', 'executive compensation for the information required by this item a011 , see 201ccompensation discussion and analysis , 201d 201ccompensation committee report , 201d and 201cexecutive compensation 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference .', 'item a012 .', 'security ownership of certain beneficial owners and management and related stockholder matters for the information required by this item a012 with respect to beneficial ownership of our common stock , see 201csecurity ownership of certain beneficial owners and management 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference .', 'the following table sets forth certain information as of december a031 , 2018 regarding our equity plans : plan category number of securities to be issued upon exercise of outstanding options , warrants and rights ( 1 ) weighted-average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ( b ) ( c ) equity compensation plans approved by security holders 1471449 $ 136.62 3578241 ( 1 ) the number of securities in column ( a ) include 22290 shares of common stock underlying performance stock units if maximum performance levels are achieved ; the actual number of shares , if any , to be issued with respect to the performance stock units will be based on performance with respect to specified financial and relative stock price measures .', 'item a013 .', 'certain relationships and related transactions , and director independence for the information required by this item a013 , see 201ccertain transactions 201d and 201ccorporate governance 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference .', 'item a014 .', 'principal accounting fees and services for the information required by this item a014 , see 201caudit and non-audit fees 201d and 201caudit committee pre-approval procedures 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference. .'] | 0.70861 | TFX/2018/page_74.pdf-2 | ['part a0iii item a010 .', 'directors , executive officers and corporate governance for the information required by this item a010 with respect to our executive officers , see part a0i , item 1 .', 'of this report .', 'for the other information required by this item a010 , see 201celection of directors , 201d 201cnominees for election to the board of directors , 201d 201ccorporate governance 201d and 201csection a016 ( a ) beneficial ownership reporting compliance , 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference .', 'the proxy statement for our 2019 annual meeting will be filed within 120 a0days after the end of the fiscal year covered by this annual report on form 10-k .', 'item a011 .', 'executive compensation for the information required by this item a011 , see 201ccompensation discussion and analysis , 201d 201ccompensation committee report , 201d and 201cexecutive compensation 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference .', 'item a012 .', 'security ownership of certain beneficial owners and management and related stockholder matters for the information required by this item a012 with respect to beneficial ownership of our common stock , see 201csecurity ownership of certain beneficial owners and management 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference .', 'the following table sets forth certain information as of december a031 , 2018 regarding our equity plans : plan category number of securities to be issued upon exercise of outstanding options , warrants and rights ( 1 ) weighted-average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ( b ) ( c ) equity compensation plans approved by security holders 1471449 $ 136.62 3578241 ( 1 ) the number of securities in column ( a ) include 22290 shares of common stock underlying performance stock units if maximum performance levels are achieved ; the actual number of shares , if any , to be issued with respect to the performance stock units will be based on performance with respect to specified financial and relative stock price measures .', 'item a013 .', 'certain relationships and related transactions , and director independence for the information required by this item a013 , see 201ccertain transactions 201d and 201ccorporate governance 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference .', 'item a014 .', 'principal accounting fees and services for the information required by this item a014 , see 201caudit and non-audit fees 201d and 201caudit committee pre-approval procedures 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference. .'] | ['part a0iii item a010 .', 'directors , executive officers and corporate governance for the information required by this item a010 with respect to our executive officers , see part a0i , item 1 .', 'of this report .', 'for the other information required by this item a010 , see 201celection of directors , 201d 201cnominees for election to the board of directors , 201d 201ccorporate governance 201d and 201csection a016 ( a ) beneficial ownership reporting compliance , 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference .', 'the proxy statement for our 2019 annual meeting will be filed within 120 a0days after the end of the fiscal year covered by this annual report on form 10-k .', 'item a011 .', 'executive compensation for the information required by this item a011 , see 201ccompensation discussion and analysis , 201d 201ccompensation committee report , 201d and 201cexecutive compensation 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference .', 'item a012 .', 'security ownership of certain beneficial owners and management and related stockholder matters for the information required by this item a012 with respect to beneficial ownership of our common stock , see 201csecurity ownership of certain beneficial owners and management 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference .', 'the following table sets forth certain information as of december a031 , 2018 regarding our equity plans : plan category number of securities to be issued upon exercise of outstanding options , warrants and rights ( 1 ) weighted-average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ( b ) ( c ) equity compensation plans approved by security holders 1471449 $ 136.62 3578241 ( 1 ) the number of securities in column ( a ) include 22290 shares of common stock underlying performance stock units if maximum performance levels are achieved ; the actual number of shares , if any , to be issued with respect to the performance stock units will be based on performance with respect to specified financial and relative stock price measures .', 'item a013 .', 'certain relationships and related transactions , and director independence for the information required by this item a013 , see 201ccertain transactions 201d and 201ccorporate governance 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference .', 'item a014 .', 'principal accounting fees and services for the information required by this item a014 , see 201caudit and non-audit fees 201d and 201caudit committee pre-approval procedures 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference. .'] | plan category | number of securitiesto be issued uponexercise ofoutstanding options warrants and rights ( 1 ) ( a ) ( b ) | weighted-averageexercise price ofoutstanding options warrants and rights | number of securitiesremaining available forfuture issuance underequity compensationplans ( excludingsecurities reflected in column ( a ) ) ( c )
equity compensation plans approved by security holders | 1471449 | $ 136.62 | 3578241 | add(1471449, 3578241), divide(3578241, #0) | 0.70861 |
what was the percentage change in the goodwill in 2010 as a result of the hewitt acquisition . | Background: ['holding other assumptions constant , the following table reflects what a one hundred basis point increase and decrease in our estimated long-term rate of return on plan assets would have on our estimated 2011 pension expense ( in millions ) : change in long-term rate of return on plan assets .']
--------
Table:
Row 1: increase ( decrease ) in expense, change in long-term rateof return on plan assets increase, change in long-term rateof return on plan assets decrease
Row 2: u.s . plans, $ -14 ( 14 ), $ 14
Row 3: u.k . plans, -35 ( 35 ), 35
Row 4: the netherlands plan, -5 ( 5 ), 5
Row 5: canada plans, -2 ( 2 ), 2
--------
Additional Information: ['estimated future contributions we estimate contributions of approximately $ 403 million in 2011 as compared with $ 288 million in goodwill and other intangible assets goodwill represents the excess of cost over the fair market value of the net assets acquired .', 'we classify our intangible assets acquired as either trademarks , customer relationships , technology , non-compete agreements , or other purchased intangibles .', 'our goodwill and other intangible balances at december 31 , 2010 increased to $ 8.6 billion and $ 3.6 billion , respectively , compared to $ 6.1 billion and $ 791 million , respectively , at december 31 , 2009 , primarily as a result of the hewitt acquisition .', 'although goodwill is not amortized , we test it for impairment at least annually in the fourth quarter .', 'in the fourth quarter , we also test acquired trademarks ( which also are not amortized ) for impairment .', 'we test more frequently if there are indicators of impairment or whenever business circumstances suggest that the carrying value of goodwill or trademarks may not be recoverable .', 'these indicators may include a sustained significant decline in our share price and market capitalization , a decline in our expected future cash flows , or a significant adverse change in legal factors or in the business climate , among others .', 'no events occurred during 2010 or 2009 that indicate the existence of an impairment with respect to our reported goodwill or trademarks .', 'we perform impairment reviews at the reporting unit level .', 'a reporting unit is an operating segment or one level below an operating segment ( referred to as a 2018 2018component 2019 2019 ) .', 'a component of an operating segment is a reporting unit if the component constitutes a business for which discrete financial information is available and segment management regularly reviews the operating results of that component .', 'an operating segment shall be deemed to be a reporting unit if all of its components are similar , if none of its components is a reporting unit , or if the segment comprises only a single component .', 'the goodwill impairment test is a two step analysis .', 'step one requires the fair value of each reporting unit to be compared to its book value .', 'management must apply judgment in determining the estimated fair value of the reporting units .', 'if the fair value of a reporting unit is determined to be greater than the carrying value of the reporting unit , goodwill and trademarks are deemed not to be impaired and no further testing is necessary .', 'if the fair value of a reporting unit is less than the carrying value , we perform step two .', 'step two uses the calculated fair value of the reporting unit to perform a hypothetical purchase price allocation to the fair value of the assets and liabilities of the reporting unit .', 'the difference between the fair value of the reporting unit calculated in step one and the fair value of the underlying assets and liabilities of the reporting unit is the implied fair value of the reporting unit 2019s goodwill .', 'a charge is recorded in the financial statements if the carrying value of the reporting unit 2019s goodwill is greater than its implied fair value. .'] | 0.40984 | AON/2010/page_61.pdf-1 | ['holding other assumptions constant , the following table reflects what a one hundred basis point increase and decrease in our estimated long-term rate of return on plan assets would have on our estimated 2011 pension expense ( in millions ) : change in long-term rate of return on plan assets .'] | ['estimated future contributions we estimate contributions of approximately $ 403 million in 2011 as compared with $ 288 million in goodwill and other intangible assets goodwill represents the excess of cost over the fair market value of the net assets acquired .', 'we classify our intangible assets acquired as either trademarks , customer relationships , technology , non-compete agreements , or other purchased intangibles .', 'our goodwill and other intangible balances at december 31 , 2010 increased to $ 8.6 billion and $ 3.6 billion , respectively , compared to $ 6.1 billion and $ 791 million , respectively , at december 31 , 2009 , primarily as a result of the hewitt acquisition .', 'although goodwill is not amortized , we test it for impairment at least annually in the fourth quarter .', 'in the fourth quarter , we also test acquired trademarks ( which also are not amortized ) for impairment .', 'we test more frequently if there are indicators of impairment or whenever business circumstances suggest that the carrying value of goodwill or trademarks may not be recoverable .', 'these indicators may include a sustained significant decline in our share price and market capitalization , a decline in our expected future cash flows , or a significant adverse change in legal factors or in the business climate , among others .', 'no events occurred during 2010 or 2009 that indicate the existence of an impairment with respect to our reported goodwill or trademarks .', 'we perform impairment reviews at the reporting unit level .', 'a reporting unit is an operating segment or one level below an operating segment ( referred to as a 2018 2018component 2019 2019 ) .', 'a component of an operating segment is a reporting unit if the component constitutes a business for which discrete financial information is available and segment management regularly reviews the operating results of that component .', 'an operating segment shall be deemed to be a reporting unit if all of its components are similar , if none of its components is a reporting unit , or if the segment comprises only a single component .', 'the goodwill impairment test is a two step analysis .', 'step one requires the fair value of each reporting unit to be compared to its book value .', 'management must apply judgment in determining the estimated fair value of the reporting units .', 'if the fair value of a reporting unit is determined to be greater than the carrying value of the reporting unit , goodwill and trademarks are deemed not to be impaired and no further testing is necessary .', 'if the fair value of a reporting unit is less than the carrying value , we perform step two .', 'step two uses the calculated fair value of the reporting unit to perform a hypothetical purchase price allocation to the fair value of the assets and liabilities of the reporting unit .', 'the difference between the fair value of the reporting unit calculated in step one and the fair value of the underlying assets and liabilities of the reporting unit is the implied fair value of the reporting unit 2019s goodwill .', 'a charge is recorded in the financial statements if the carrying value of the reporting unit 2019s goodwill is greater than its implied fair value. .'] | Row 1: increase ( decrease ) in expense, change in long-term rateof return on plan assets increase, change in long-term rateof return on plan assets decrease
Row 2: u.s . plans, $ -14 ( 14 ), $ 14
Row 3: u.k . plans, -35 ( 35 ), 35
Row 4: the netherlands plan, -5 ( 5 ), 5
Row 5: canada plans, -2 ( 2 ), 2 | subtract(8.6, 6.1), divide(#0, 6.1) | 0.40984 |
for 2013 , in millions , what was the total of other intangibles and all other adjustments? | Background: ['table 20 : pro forma transitional basel iii tier 1 common capital ratio dollars in millions december 31 .']
Data Table:
----------------------------------------
dollars in millions december 31 2013
basel i tier 1 common capital $ 28484
less phased-in regulatory capital adjustments:
basel iii quantitative limits -228 ( 228 )
accumulated other comprehensive income ( a ) 39
other intangibles 381
all other adjustments 210
estimated basel iii transitional tier 1 common capital ( with 2014 phase-ins ) $ 28886
basel i risk-weighted assets calculated as applicable for 2014 272321
pro forma basel iii transitional tier 1 common capital ratio ( with 2014phase-ins ) 10.6% ( 10.6 % )
----------------------------------------
Additional Information: ['estimated basel iii transitional tier 1 common capital ( with 2014 phase-ins ) $ 28886 basel i risk-weighted assets calculated as applicable for 2014 272321 pro forma basel iii transitional tier 1 common capital ratio ( with 2014 phase-ins ) 10.6% ( 10.6 % ) ( a ) represents net adjustments related to accumulated other comprehensive income for available for sale securities and pension and other postretirement benefit plans .', 'pnc utilizes these fully implemented and transitional basel iii capital ratios to assess its capital position , including comparison to similar estimates made by other financial institutions .', 'these basel iii capital estimates are likely to be impacted by any additional regulatory guidance , continued analysis by pnc as to the application of the rules to pnc , and in the case of ratios calculated using the advanced approaches , the ongoing evolution , validation and regulatory approval of pnc 2019s models integral to the calculation of advanced approaches risk-weighted assets .', 'the access to and cost of funding for new business initiatives , the ability to undertake new business initiatives including acquisitions , the ability to engage in expanded business activities , the ability to pay dividends or repurchase shares or other capital instruments , the level of deposit insurance costs , and the level and nature of regulatory oversight depend , in large part , on a financial institution 2019s capital strength .', 'we provide additional information regarding enhanced capital requirements and some of their potential impacts on pnc in item 1 business 2013 supervision and regulation , item 1a risk factors and note 22 regulatory matters in the notes to consolidated financial statements in item 8 of this report .', 'off-balance sheet arrangements and variable interest entities we engage in a variety of activities that involve unconsolidated entities or that are otherwise not reflected in our consolidated balance sheet that are generally referred to as 201coff-balance sheet arrangements . 201d additional information on these types of activities is included in the following sections of this report : 2022 commitments , including contractual obligations and other commitments , included within the risk management section of this item 7 , 2022 note 3 loan sale and servicing activities and variable interest entities in the notes to consolidated financial statements included in item 8 of this report , 2022 note 14 capital securities of subsidiary trusts and perpetual trust securities in the notes to consolidated financial statements included in item 8 of this report , and 2022 note 24 commitments and guarantees in the notes to consolidated financial statements included in item 8 of this report .', 'pnc consolidates variable interest entities ( vies ) when we are deemed to be the primary beneficiary .', 'the primary beneficiary of a vie is determined to be the party that meets both of the following criteria : ( i ) has the power to make decisions that most significantly affect the economic performance of the vie ; and ( ii ) has the obligation to absorb losses or the right to receive benefits that in either case could potentially be significant to the vie .', 'a summary of vies , including those that we have consolidated and those in which we hold variable interests but have not consolidated into our financial statements , as of december 31 , 2013 and december 31 , 2012 is included in note 3 in the notes to consolidated financial statements included in item 8 of this report .', 'trust preferred securities and reit preferred securities we are subject to certain restrictions , including restrictions on dividend payments , in connection with $ 206 million in principal amount of an outstanding junior subordinated debenture associated with $ 200 million of trust preferred securities ( both amounts as of december 31 , 2013 ) that were issued by pnc capital trust c , a subsidiary statutory trust .', 'generally , if there is ( i ) an event of default under the debenture , ( ii ) pnc elects to defer interest on the debenture , ( iii ) pnc exercises its right to defer payments on the related trust preferred security issued by the statutory trust , or ( iv ) there is a default under pnc 2019s guarantee of such payment obligations , as specified in the applicable governing documents , then pnc would be subject during the period of such default or deferral to restrictions on dividends and other provisions protecting the status of the debenture holders similar to or in some ways more restrictive than those potentially imposed under the exchange agreement with pnc preferred funding trust ii .', 'see note 14 capital securities of subsidiary trusts and perpetual trust securities in the notes to consolidated financial statements in item 8 of this report for additional information on contractual limitations on dividend payments resulting from securities issued by pnc preferred funding trust i and pnc preferred funding trust ii .', 'see the liquidity risk management portion of the risk management section of this item 7 for additional information regarding our first quarter 2013 redemption of the reit preferred securities issued by pnc preferred funding trust iii and additional discussion of redemptions of trust preferred securities .', '48 the pnc financial services group , inc .', '2013 form 10-k .'] | 591.0 | PNC/2013/page_66.pdf-1 | ['table 20 : pro forma transitional basel iii tier 1 common capital ratio dollars in millions december 31 .'] | ['estimated basel iii transitional tier 1 common capital ( with 2014 phase-ins ) $ 28886 basel i risk-weighted assets calculated as applicable for 2014 272321 pro forma basel iii transitional tier 1 common capital ratio ( with 2014 phase-ins ) 10.6% ( 10.6 % ) ( a ) represents net adjustments related to accumulated other comprehensive income for available for sale securities and pension and other postretirement benefit plans .', 'pnc utilizes these fully implemented and transitional basel iii capital ratios to assess its capital position , including comparison to similar estimates made by other financial institutions .', 'these basel iii capital estimates are likely to be impacted by any additional regulatory guidance , continued analysis by pnc as to the application of the rules to pnc , and in the case of ratios calculated using the advanced approaches , the ongoing evolution , validation and regulatory approval of pnc 2019s models integral to the calculation of advanced approaches risk-weighted assets .', 'the access to and cost of funding for new business initiatives , the ability to undertake new business initiatives including acquisitions , the ability to engage in expanded business activities , the ability to pay dividends or repurchase shares or other capital instruments , the level of deposit insurance costs , and the level and nature of regulatory oversight depend , in large part , on a financial institution 2019s capital strength .', 'we provide additional information regarding enhanced capital requirements and some of their potential impacts on pnc in item 1 business 2013 supervision and regulation , item 1a risk factors and note 22 regulatory matters in the notes to consolidated financial statements in item 8 of this report .', 'off-balance sheet arrangements and variable interest entities we engage in a variety of activities that involve unconsolidated entities or that are otherwise not reflected in our consolidated balance sheet that are generally referred to as 201coff-balance sheet arrangements . 201d additional information on these types of activities is included in the following sections of this report : 2022 commitments , including contractual obligations and other commitments , included within the risk management section of this item 7 , 2022 note 3 loan sale and servicing activities and variable interest entities in the notes to consolidated financial statements included in item 8 of this report , 2022 note 14 capital securities of subsidiary trusts and perpetual trust securities in the notes to consolidated financial statements included in item 8 of this report , and 2022 note 24 commitments and guarantees in the notes to consolidated financial statements included in item 8 of this report .', 'pnc consolidates variable interest entities ( vies ) when we are deemed to be the primary beneficiary .', 'the primary beneficiary of a vie is determined to be the party that meets both of the following criteria : ( i ) has the power to make decisions that most significantly affect the economic performance of the vie ; and ( ii ) has the obligation to absorb losses or the right to receive benefits that in either case could potentially be significant to the vie .', 'a summary of vies , including those that we have consolidated and those in which we hold variable interests but have not consolidated into our financial statements , as of december 31 , 2013 and december 31 , 2012 is included in note 3 in the notes to consolidated financial statements included in item 8 of this report .', 'trust preferred securities and reit preferred securities we are subject to certain restrictions , including restrictions on dividend payments , in connection with $ 206 million in principal amount of an outstanding junior subordinated debenture associated with $ 200 million of trust preferred securities ( both amounts as of december 31 , 2013 ) that were issued by pnc capital trust c , a subsidiary statutory trust .', 'generally , if there is ( i ) an event of default under the debenture , ( ii ) pnc elects to defer interest on the debenture , ( iii ) pnc exercises its right to defer payments on the related trust preferred security issued by the statutory trust , or ( iv ) there is a default under pnc 2019s guarantee of such payment obligations , as specified in the applicable governing documents , then pnc would be subject during the period of such default or deferral to restrictions on dividends and other provisions protecting the status of the debenture holders similar to or in some ways more restrictive than those potentially imposed under the exchange agreement with pnc preferred funding trust ii .', 'see note 14 capital securities of subsidiary trusts and perpetual trust securities in the notes to consolidated financial statements in item 8 of this report for additional information on contractual limitations on dividend payments resulting from securities issued by pnc preferred funding trust i and pnc preferred funding trust ii .', 'see the liquidity risk management portion of the risk management section of this item 7 for additional information regarding our first quarter 2013 redemption of the reit preferred securities issued by pnc preferred funding trust iii and additional discussion of redemptions of trust preferred securities .', '48 the pnc financial services group , inc .', '2013 form 10-k .'] | ----------------------------------------
dollars in millions december 31 2013
basel i tier 1 common capital $ 28484
less phased-in regulatory capital adjustments:
basel iii quantitative limits -228 ( 228 )
accumulated other comprehensive income ( a ) 39
other intangibles 381
all other adjustments 210
estimated basel iii transitional tier 1 common capital ( with 2014 phase-ins ) $ 28886
basel i risk-weighted assets calculated as applicable for 2014 272321
pro forma basel iii transitional tier 1 common capital ratio ( with 2014phase-ins ) 10.6% ( 10.6 % )
---------------------------------------- | add(381, 210) | 591.0 |
what is the roi of an investment in nasdaq composite index from march 2007 to march 2010? | Background: ['performance graph the following graph compares the yearly change in the cumulative total stockholder return for our last five full fiscal years , based upon the market price of our common stock , with the cumulative total return on a nasdaq composite index ( u.s .', 'companies ) and a peer group , the nasdaq medical equipment-sic code 3840-3849 index , which is comprised of medical equipment companies , for that period .', 'the performance graph assumes the investment of $ 100 on march 31 , 2007 in our common stock , the nasdaq composite index ( u.s .', 'companies ) and the peer group index , and the reinvestment of any and all dividends. .']
Table:
Row 1: , 3/31/2007, 3/31/2008, 3/31/2009, 3/31/2010, 3/31/2011, 3/31/2012
Row 2: abiomed inc, 100, 96.19, 35.87, 75.55, 106.37, 162.45
Row 3: nasdaq composite index, 100, 94.11, 63.12, 99.02, 114.84, 127.66
Row 4: nasdaq medical equipment sic code 3840-3849, 100, 82.91, 41.56, 77.93, 94.54, 74.40
Post-table: ['this graph is not 201csoliciting material 201d under regulation 14a or 14c of the rules promulgated under the securities exchange act of 1934 , is not deemed filed with the securities and exchange commission and is not to be incorporated by reference in any of our filings under the securities act of 1933 , as amended , or the exchange act whether made before or after the date hereof and irrespective of any general incorporation language in any such filing .', 'transfer agent american stock transfer & trust company , 59 maiden lane , new york , ny 10038 , is our stock transfer agent. .'] | -0.0098 | ABMD/2012/page_41.pdf-4 | ['performance graph the following graph compares the yearly change in the cumulative total stockholder return for our last five full fiscal years , based upon the market price of our common stock , with the cumulative total return on a nasdaq composite index ( u.s .', 'companies ) and a peer group , the nasdaq medical equipment-sic code 3840-3849 index , which is comprised of medical equipment companies , for that period .', 'the performance graph assumes the investment of $ 100 on march 31 , 2007 in our common stock , the nasdaq composite index ( u.s .', 'companies ) and the peer group index , and the reinvestment of any and all dividends. .'] | ['this graph is not 201csoliciting material 201d under regulation 14a or 14c of the rules promulgated under the securities exchange act of 1934 , is not deemed filed with the securities and exchange commission and is not to be incorporated by reference in any of our filings under the securities act of 1933 , as amended , or the exchange act whether made before or after the date hereof and irrespective of any general incorporation language in any such filing .', 'transfer agent american stock transfer & trust company , 59 maiden lane , new york , ny 10038 , is our stock transfer agent. .'] | Row 1: , 3/31/2007, 3/31/2008, 3/31/2009, 3/31/2010, 3/31/2011, 3/31/2012
Row 2: abiomed inc, 100, 96.19, 35.87, 75.55, 106.37, 162.45
Row 3: nasdaq composite index, 100, 94.11, 63.12, 99.02, 114.84, 127.66
Row 4: nasdaq medical equipment sic code 3840-3849, 100, 82.91, 41.56, 77.93, 94.54, 74.40 | subtract(99.02, 100), divide(#0, 100) | -0.0098 |
what is the percentage change in of total assets from 2016 to 2017? | Pre-text: ['management 2019s discussion and analysis of financial condition and results of operations state street corporation | 90 table 30 : total deposits average balance december 31 years ended december 31 .']
----------
Tabular Data:
****************************************
( in millions ) | december 31 2017 | december 31 2016 | december 31 2017 | 2016
client deposits | $ 180149 | $ 176693 | $ 158996 | $ 156029
wholesale cds | 4747 | 10470 | 4812 | 14456
total deposits | $ 184896 | $ 187163 | $ 163808 | $ 170485
****************************************
----------
Post-table: ['short-term funding our on-balance sheet liquid assets are also an integral component of our liquidity management strategy .', 'these assets provide liquidity through maturities of the assets , but more importantly , they provide us with the ability to raise funds by pledging the securities as collateral for borrowings or through outright sales .', 'in addition , our access to the global capital markets gives us the ability to source incremental funding at reasonable rates of interest from wholesale investors .', "as discussed earlier under 201casset liquidity , 201d state street bank's membership in the fhlb allows for advances of liquidity with varying terms against high-quality collateral .", 'short-term secured funding also comes in the form of securities lent or sold under agreements to repurchase .', 'these transactions are short-term in nature , generally overnight , and are collateralized by high-quality investment securities .', 'these balances were $ 2.84 billion and $ 4.40 billion as of december 31 , 2017 and december 31 , 2016 , respectively .', 'state street bank currently maintains a line of credit with a financial institution of cad 1.40 billion , or approximately $ 1.11 billion as of december 31 , 2017 , to support its canadian securities processing operations .', 'the line of credit has no stated termination date and is cancelable by either party with prior notice .', 'as of december 31 , 2017 , there was no balance outstanding on this line of credit .', 'long-term funding we have the ability to issue debt and equity securities under our current universal shelf registration to meet current commitments and business needs , including accommodating the transaction and cash management needs of our clients .', 'in addition , state street bank , a wholly owned subsidiary of the parent company , also has authorization to issue up to $ 5 billion in unsecured senior debt and an additional $ 500 million of subordinated debt .', 'agency credit ratings our ability to maintain consistent access to liquidity is fostered by the maintenance of high investment-grade ratings as measured by the major independent credit rating agencies .', 'factors essential to maintaining high credit ratings include : 2022 diverse and stable core earnings ; 2022 relative market position ; 2022 strong risk management ; 2022 strong capital ratios ; 2022 diverse liquidity sources , including the global capital markets and client deposits ; 2022 strong liquidity monitoring procedures ; and 2022 preparedness for current or future regulatory developments .', 'high ratings limit borrowing costs and enhance our liquidity by : 2022 providing assurance for unsecured funding and depositors ; 2022 increasing the potential market for our debt and improving our ability to offer products ; 2022 serving markets ; and 2022 engaging in transactions in which clients value high credit ratings .', 'a downgrade or reduction of our credit ratings could have a material adverse effect on our liquidity by restricting our ability to access the capital markets , which could increase the related cost of funds .', 'in turn , this could cause the sudden and large-scale withdrawal of unsecured deposits by our clients , which could lead to draw-downs of unfunded commitments to extend credit or trigger requirements under securities purchase commitments ; or require additional collateral or force terminations of certain trading derivative contracts .', 'a majority of our derivative contracts have been entered into under bilateral agreements with counterparties who may require us to post collateral or terminate the transactions based on changes in our credit ratings .', 'we assess the impact of these arrangements by determining the collateral that would be required assuming a downgrade by all rating agencies .', 'the additional collateral or termination payments related to our net derivative liabilities under these arrangements that could have been called by counterparties in the event of a downgrade in our credit ratings below levels specified in the agreements is disclosed in note 10 to the consolidated financial statements included under item 8 , financial statements and supplementary data , of this form 10-k .', 'other funding sources , such as secured financing transactions and other margin requirements , for which there are no explicit triggers , could also be adversely affected. .'] | -0.01211 | STT/2017/page_101.pdf-3 | ['management 2019s discussion and analysis of financial condition and results of operations state street corporation | 90 table 30 : total deposits average balance december 31 years ended december 31 .'] | ['short-term funding our on-balance sheet liquid assets are also an integral component of our liquidity management strategy .', 'these assets provide liquidity through maturities of the assets , but more importantly , they provide us with the ability to raise funds by pledging the securities as collateral for borrowings or through outright sales .', 'in addition , our access to the global capital markets gives us the ability to source incremental funding at reasonable rates of interest from wholesale investors .', "as discussed earlier under 201casset liquidity , 201d state street bank's membership in the fhlb allows for advances of liquidity with varying terms against high-quality collateral .", 'short-term secured funding also comes in the form of securities lent or sold under agreements to repurchase .', 'these transactions are short-term in nature , generally overnight , and are collateralized by high-quality investment securities .', 'these balances were $ 2.84 billion and $ 4.40 billion as of december 31 , 2017 and december 31 , 2016 , respectively .', 'state street bank currently maintains a line of credit with a financial institution of cad 1.40 billion , or approximately $ 1.11 billion as of december 31 , 2017 , to support its canadian securities processing operations .', 'the line of credit has no stated termination date and is cancelable by either party with prior notice .', 'as of december 31 , 2017 , there was no balance outstanding on this line of credit .', 'long-term funding we have the ability to issue debt and equity securities under our current universal shelf registration to meet current commitments and business needs , including accommodating the transaction and cash management needs of our clients .', 'in addition , state street bank , a wholly owned subsidiary of the parent company , also has authorization to issue up to $ 5 billion in unsecured senior debt and an additional $ 500 million of subordinated debt .', 'agency credit ratings our ability to maintain consistent access to liquidity is fostered by the maintenance of high investment-grade ratings as measured by the major independent credit rating agencies .', 'factors essential to maintaining high credit ratings include : 2022 diverse and stable core earnings ; 2022 relative market position ; 2022 strong risk management ; 2022 strong capital ratios ; 2022 diverse liquidity sources , including the global capital markets and client deposits ; 2022 strong liquidity monitoring procedures ; and 2022 preparedness for current or future regulatory developments .', 'high ratings limit borrowing costs and enhance our liquidity by : 2022 providing assurance for unsecured funding and depositors ; 2022 increasing the potential market for our debt and improving our ability to offer products ; 2022 serving markets ; and 2022 engaging in transactions in which clients value high credit ratings .', 'a downgrade or reduction of our credit ratings could have a material adverse effect on our liquidity by restricting our ability to access the capital markets , which could increase the related cost of funds .', 'in turn , this could cause the sudden and large-scale withdrawal of unsecured deposits by our clients , which could lead to draw-downs of unfunded commitments to extend credit or trigger requirements under securities purchase commitments ; or require additional collateral or force terminations of certain trading derivative contracts .', 'a majority of our derivative contracts have been entered into under bilateral agreements with counterparties who may require us to post collateral or terminate the transactions based on changes in our credit ratings .', 'we assess the impact of these arrangements by determining the collateral that would be required assuming a downgrade by all rating agencies .', 'the additional collateral or termination payments related to our net derivative liabilities under these arrangements that could have been called by counterparties in the event of a downgrade in our credit ratings below levels specified in the agreements is disclosed in note 10 to the consolidated financial statements included under item 8 , financial statements and supplementary data , of this form 10-k .', 'other funding sources , such as secured financing transactions and other margin requirements , for which there are no explicit triggers , could also be adversely affected. .'] | ****************************************
( in millions ) | december 31 2017 | december 31 2016 | december 31 2017 | 2016
client deposits | $ 180149 | $ 176693 | $ 158996 | $ 156029
wholesale cds | 4747 | 10470 | 4812 | 14456
total deposits | $ 184896 | $ 187163 | $ 163808 | $ 170485
**************************************** | subtract(184896, 187163), divide(#0, 187163) | -0.01211 |
what was the change in millions in the total fair value of restricted stock and performance awards vested from 2016 to 2017? | Pre-text: ['leveraged performance units during the year ended may 31 , 2015 , certain executives were granted performance units that we refer to as 201cleveraged performance units , 201d or 201clpus . 201d lpus contain a market condition based on our relative stock price growth over a three-year performance period .', 'the lpus contain a minimum threshold performance which , if not met , would result in no payout .', 'the lpus also contain a maximum award opportunity set as a fixed dollar and fixed number of shares .', 'after the three-year performance period , which concluded in october 2017 , one-third of the earned units converted to unrestricted common stock .', 'the remaining two-thirds converted to restricted stock that will vest in equal installments on each of the first two anniversaries of the conversion date .', 'we recognize share-based compensation expense based on the grant date fair value of the lpus , as determined by use of a monte carlo model , on a straight-line basis over the requisite service period for each separately vesting portion of the lpu award .', 'the following table summarizes the changes in unvested restricted stock and performance awards for the year ended december 31 , 2017 , the 2016 fiscal transition period and for the years ended may 31 , 2016 and 2015 : shares weighted-average grant-date fair value ( in thousands ) .']
Tabular Data:
========================================
| shares ( in thousands ) | weighted-averagegrant-datefair value
unvested at may 31 2014 | 1754 | $ 22.72
granted | 954 | 36.21
vested | -648 ( 648 ) | 23.17
forfeited | -212 ( 212 ) | 27.03
unvested at may 31 2015 | 1848 | 28.97
granted | 461 | 57.04
vested | -633 ( 633 ) | 27.55
forfeited | -70 ( 70 ) | 34.69
unvested at may 31 2016 | 1606 | 37.25
granted | 348 | 74.26
vested | -639 ( 639 ) | 31.38
forfeited | -52 ( 52 ) | 45.27
unvested at december 31 2016 | 1263 | 49.55
granted | 899 | 79.79
vested | -858 ( 858 ) | 39.26
forfeited | -78 ( 78 ) | 59.56
unvested at december 31 2017 | 1226 | $ 78.29
========================================
Additional Information: ['the total fair value of restricted stock and performance awards vested was $ 33.7 million for the year ended december 31 , 2017 , $ 20.0 million for the 2016 fiscal transition period and $ 17.4 million and $ 15.0 million , respectively , for the years ended may 31 , 2016 and 2015 .', 'for restricted stock and performance awards , we recognized compensation expense of $ 35.2 million for the year ended december 31 , 2017 , $ 17.2 million for the 2016 fiscal transition period and $ 28.8 million and $ 19.8 million , respectively , for the years ended may 31 , 2016 and 2015 .', 'as of december 31 , 2017 , there was $ 46.1 million of unrecognized compensation expense related to unvested restricted stock and performance awards that we expect to recognize over a weighted-average period of 1.8 years .', 'our restricted stock and performance award plans provide for accelerated vesting under certain conditions .', 'stock options stock options are granted with an exercise price equal to 100% ( 100 % ) of fair market value of our common stock on the date of grant and have a term of ten years .', 'stock options granted before the year ended may 31 , 2015 vest in equal installments on each of the first four anniversaries of the grant date .', 'stock options granted during the year ended may 31 , 2015 and thereafter vest in equal installments on each of the first three anniversaries of the grant date .', 'our stock option plans provide for accelerated vesting under certain conditions .', 'global payments inc .', '| 2017 form 10-k annual report 2013 91 .'] | 13.7 | GPN/2017/page_91.pdf-1 | ['leveraged performance units during the year ended may 31 , 2015 , certain executives were granted performance units that we refer to as 201cleveraged performance units , 201d or 201clpus . 201d lpus contain a market condition based on our relative stock price growth over a three-year performance period .', 'the lpus contain a minimum threshold performance which , if not met , would result in no payout .', 'the lpus also contain a maximum award opportunity set as a fixed dollar and fixed number of shares .', 'after the three-year performance period , which concluded in october 2017 , one-third of the earned units converted to unrestricted common stock .', 'the remaining two-thirds converted to restricted stock that will vest in equal installments on each of the first two anniversaries of the conversion date .', 'we recognize share-based compensation expense based on the grant date fair value of the lpus , as determined by use of a monte carlo model , on a straight-line basis over the requisite service period for each separately vesting portion of the lpu award .', 'the following table summarizes the changes in unvested restricted stock and performance awards for the year ended december 31 , 2017 , the 2016 fiscal transition period and for the years ended may 31 , 2016 and 2015 : shares weighted-average grant-date fair value ( in thousands ) .'] | ['the total fair value of restricted stock and performance awards vested was $ 33.7 million for the year ended december 31 , 2017 , $ 20.0 million for the 2016 fiscal transition period and $ 17.4 million and $ 15.0 million , respectively , for the years ended may 31 , 2016 and 2015 .', 'for restricted stock and performance awards , we recognized compensation expense of $ 35.2 million for the year ended december 31 , 2017 , $ 17.2 million for the 2016 fiscal transition period and $ 28.8 million and $ 19.8 million , respectively , for the years ended may 31 , 2016 and 2015 .', 'as of december 31 , 2017 , there was $ 46.1 million of unrecognized compensation expense related to unvested restricted stock and performance awards that we expect to recognize over a weighted-average period of 1.8 years .', 'our restricted stock and performance award plans provide for accelerated vesting under certain conditions .', 'stock options stock options are granted with an exercise price equal to 100% ( 100 % ) of fair market value of our common stock on the date of grant and have a term of ten years .', 'stock options granted before the year ended may 31 , 2015 vest in equal installments on each of the first four anniversaries of the grant date .', 'stock options granted during the year ended may 31 , 2015 and thereafter vest in equal installments on each of the first three anniversaries of the grant date .', 'our stock option plans provide for accelerated vesting under certain conditions .', 'global payments inc .', '| 2017 form 10-k annual report 2013 91 .'] | ========================================
| shares ( in thousands ) | weighted-averagegrant-datefair value
unvested at may 31 2014 | 1754 | $ 22.72
granted | 954 | 36.21
vested | -648 ( 648 ) | 23.17
forfeited | -212 ( 212 ) | 27.03
unvested at may 31 2015 | 1848 | 28.97
granted | 461 | 57.04
vested | -633 ( 633 ) | 27.55
forfeited | -70 ( 70 ) | 34.69
unvested at may 31 2016 | 1606 | 37.25
granted | 348 | 74.26
vested | -639 ( 639 ) | 31.38
forfeited | -52 ( 52 ) | 45.27
unvested at december 31 2016 | 1263 | 49.55
granted | 899 | 79.79
vested | -858 ( 858 ) | 39.26
forfeited | -78 ( 78 ) | 59.56
unvested at december 31 2017 | 1226 | $ 78.29
======================================== | subtract(33.7, 20.0) | 13.7 |
what was the net fair value of derivatives , in millions? | Background: ['jpmorgan chase & co./2009 annual report 181 the following table shows the current credit risk of derivative receivables after netting adjustments , and the current liquidity risk of derivative payables after netting adjustments , as of december 31 , 2009. .']
####
Table:
december 31 2009 ( in millions ) | derivative receivables | derivative payables
----------|----------|----------
gross derivative fair value | $ 1565518 | $ 1519183
nettingadjustment 2013 offsetting receivables/payables | -1419840 ( 1419840 ) | -1419840 ( 1419840 )
nettingadjustment 2013 cash collateral received/paid | -65468 ( 65468 ) | -39218 ( 39218 )
carrying value on consolidated balance sheets | $ 80210 | $ 60125
####
Post-table: ['in addition to the collateral amounts reflected in the table above , at december 31 , 2009 , the firm had received and posted liquid secu- rities collateral in the amount of $ 15.5 billion and $ 11.7 billion , respectively .', 'the firm also receives and delivers collateral at the initiation of derivative transactions , which is available as security against potential exposure that could arise should the fair value of the transactions move in the firm 2019s or client 2019s favor , respectively .', 'furthermore , the firm and its counterparties hold collateral related to contracts that have a non-daily call frequency for collateral to be posted , and collateral that the firm or a counterparty has agreed to return but has not yet settled as of the reporting date .', 'at december 31 , 2009 , the firm had received $ 16.9 billion and delivered $ 5.8 billion of such additional collateral .', 'these amounts were not netted against the derivative receivables and payables in the table above , because , at an individual counterparty level , the collateral exceeded the fair value exposure at december 31 , 2009 .', 'credit derivatives credit derivatives are financial instruments whose value is derived from the credit risk associated with the debt of a third-party issuer ( the reference entity ) and which allow one party ( the protection purchaser ) to transfer that risk to another party ( the protection seller ) .', 'credit derivatives expose the protection purchaser to the creditworthiness of the protection seller , as the protection seller is required to make payments under the contract when the reference entity experiences a credit event , such as a bankruptcy , a failure to pay its obligation or a restructuring .', 'the seller of credit protection receives a premium for providing protection but has the risk that the underlying instrument referenced in the contract will be subject to a credit event .', 'the firm is both a purchaser and seller of protection in the credit derivatives market and uses these derivatives for two primary purposes .', 'first , in its capacity as a market-maker in the dealer/client business , the firm actively risk manages a portfolio of credit derivatives by purchasing and selling credit protection , pre- dominantly on corporate debt obligations , to meet the needs of customers .', 'as a seller of protection , the firm 2019s exposure to a given reference entity may be offset partially , or entirely , with a contract to purchase protection from another counterparty on the same or similar reference entity .', 'second , the firm uses credit derivatives to mitigate credit risk associated with its overall derivative receivables and traditional commercial credit lending exposures ( loans and unfunded commitments ) as well as to manage its exposure to residential and commercial mortgages .', 'see note 3 on pages 156--- 173 of this annual report for further information on the firm 2019s mortgage-related exposures .', 'in accomplishing the above , the firm uses different types of credit derivatives .', 'following is a summary of various types of credit derivatives .', 'credit default swaps credit derivatives may reference the credit of either a single refer- ence entity ( 201csingle-name 201d ) or a broad-based index , as described further below .', 'the firm purchases and sells protection on both single- name and index-reference obligations .', 'single-name cds and index cds contracts are both otc derivative contracts .', 'single- name cds are used to manage the default risk of a single reference entity , while cds index are used to manage credit risk associated with the broader credit markets or credit market segments .', 'like the s&p 500 and other market indices , a cds index is comprised of a portfolio of cds across many reference entities .', 'new series of cds indices are established approximately every six months with a new underlying portfolio of reference entities to reflect changes in the credit markets .', 'if one of the reference entities in the index experi- ences a credit event , then the reference entity that defaulted is removed from the index .', 'cds can also be referenced against spe- cific portfolios of reference names or against customized exposure levels based on specific client demands : for example , to provide protection against the first $ 1 million of realized credit losses in a $ 10 million portfolio of exposure .', 'such structures are commonly known as tranche cds .', 'for both single-name cds contracts and index cds , upon the occurrence of a credit event , under the terms of a cds contract neither party to the cds contract has recourse to the reference entity .', 'the protection purchaser has recourse to the protection seller for the difference between the face value of the cds contract and the fair value of the reference obligation at the time of settling the credit derivative contract , also known as the recovery value .', 'the protection purchaser does not need to hold the debt instrument of the underlying reference entity in order to receive amounts due under the cds contract when a credit event occurs .', 'credit-linked notes a credit linked note ( 201ccln 201d ) is a funded credit derivative where the issuer of the cln purchases credit protection on a referenced entity from the note investor .', 'under the contract , the investor pays the issuer par value of the note at the inception of the transaction , and in return , the issuer pays periodic payments to the investor , based on the credit risk of the referenced entity .', 'the issuer also repays the investor the par value of the note at maturity unless the reference entity experiences a specified credit event .', 'in that event , the issuer is not obligated to repay the par value of the note , but rather , the issuer pays the investor the difference between the par value of the note .'] | 46335.0 | JPM/2009/page_183.pdf-5 | ['jpmorgan chase & co./2009 annual report 181 the following table shows the current credit risk of derivative receivables after netting adjustments , and the current liquidity risk of derivative payables after netting adjustments , as of december 31 , 2009. .'] | ['in addition to the collateral amounts reflected in the table above , at december 31 , 2009 , the firm had received and posted liquid secu- rities collateral in the amount of $ 15.5 billion and $ 11.7 billion , respectively .', 'the firm also receives and delivers collateral at the initiation of derivative transactions , which is available as security against potential exposure that could arise should the fair value of the transactions move in the firm 2019s or client 2019s favor , respectively .', 'furthermore , the firm and its counterparties hold collateral related to contracts that have a non-daily call frequency for collateral to be posted , and collateral that the firm or a counterparty has agreed to return but has not yet settled as of the reporting date .', 'at december 31 , 2009 , the firm had received $ 16.9 billion and delivered $ 5.8 billion of such additional collateral .', 'these amounts were not netted against the derivative receivables and payables in the table above , because , at an individual counterparty level , the collateral exceeded the fair value exposure at december 31 , 2009 .', 'credit derivatives credit derivatives are financial instruments whose value is derived from the credit risk associated with the debt of a third-party issuer ( the reference entity ) and which allow one party ( the protection purchaser ) to transfer that risk to another party ( the protection seller ) .', 'credit derivatives expose the protection purchaser to the creditworthiness of the protection seller , as the protection seller is required to make payments under the contract when the reference entity experiences a credit event , such as a bankruptcy , a failure to pay its obligation or a restructuring .', 'the seller of credit protection receives a premium for providing protection but has the risk that the underlying instrument referenced in the contract will be subject to a credit event .', 'the firm is both a purchaser and seller of protection in the credit derivatives market and uses these derivatives for two primary purposes .', 'first , in its capacity as a market-maker in the dealer/client business , the firm actively risk manages a portfolio of credit derivatives by purchasing and selling credit protection , pre- dominantly on corporate debt obligations , to meet the needs of customers .', 'as a seller of protection , the firm 2019s exposure to a given reference entity may be offset partially , or entirely , with a contract to purchase protection from another counterparty on the same or similar reference entity .', 'second , the firm uses credit derivatives to mitigate credit risk associated with its overall derivative receivables and traditional commercial credit lending exposures ( loans and unfunded commitments ) as well as to manage its exposure to residential and commercial mortgages .', 'see note 3 on pages 156--- 173 of this annual report for further information on the firm 2019s mortgage-related exposures .', 'in accomplishing the above , the firm uses different types of credit derivatives .', 'following is a summary of various types of credit derivatives .', 'credit default swaps credit derivatives may reference the credit of either a single refer- ence entity ( 201csingle-name 201d ) or a broad-based index , as described further below .', 'the firm purchases and sells protection on both single- name and index-reference obligations .', 'single-name cds and index cds contracts are both otc derivative contracts .', 'single- name cds are used to manage the default risk of a single reference entity , while cds index are used to manage credit risk associated with the broader credit markets or credit market segments .', 'like the s&p 500 and other market indices , a cds index is comprised of a portfolio of cds across many reference entities .', 'new series of cds indices are established approximately every six months with a new underlying portfolio of reference entities to reflect changes in the credit markets .', 'if one of the reference entities in the index experi- ences a credit event , then the reference entity that defaulted is removed from the index .', 'cds can also be referenced against spe- cific portfolios of reference names or against customized exposure levels based on specific client demands : for example , to provide protection against the first $ 1 million of realized credit losses in a $ 10 million portfolio of exposure .', 'such structures are commonly known as tranche cds .', 'for both single-name cds contracts and index cds , upon the occurrence of a credit event , under the terms of a cds contract neither party to the cds contract has recourse to the reference entity .', 'the protection purchaser has recourse to the protection seller for the difference between the face value of the cds contract and the fair value of the reference obligation at the time of settling the credit derivative contract , also known as the recovery value .', 'the protection purchaser does not need to hold the debt instrument of the underlying reference entity in order to receive amounts due under the cds contract when a credit event occurs .', 'credit-linked notes a credit linked note ( 201ccln 201d ) is a funded credit derivative where the issuer of the cln purchases credit protection on a referenced entity from the note investor .', 'under the contract , the investor pays the issuer par value of the note at the inception of the transaction , and in return , the issuer pays periodic payments to the investor , based on the credit risk of the referenced entity .', 'the issuer also repays the investor the par value of the note at maturity unless the reference entity experiences a specified credit event .', 'in that event , the issuer is not obligated to repay the par value of the note , but rather , the issuer pays the investor the difference between the par value of the note .'] | december 31 2009 ( in millions ) | derivative receivables | derivative payables
----------|----------|----------
gross derivative fair value | $ 1565518 | $ 1519183
nettingadjustment 2013 offsetting receivables/payables | -1419840 ( 1419840 ) | -1419840 ( 1419840 )
nettingadjustment 2013 cash collateral received/paid | -65468 ( 65468 ) | -39218 ( 39218 )
carrying value on consolidated balance sheets | $ 80210 | $ 60125 | subtract(1565518, 1519183) | 46335.0 |
in millions , what was the average loss from foreign currency translation from 2015-2017? | Context: ['table of contents cdw corporation and subsidiaries method or straight-line method , as applicable .', 'the company classifies deferred financing costs as a direct deduction from the carrying value of the long-term debt liability on the consolidated balance sheets , except for deferred financing costs associated with revolving credit facilities which are presented as an asset , within other assets on the consolidated balance sheets .', 'derivative instruments the company has interest rate cap agreements for the purpose of hedging its exposure to fluctuations in interest rates .', 'the interest rate cap agreements are designated as cash flow hedges of interest rate risk and recorded at fair value in other assets on the consolidated balance sheets .', 'the gain or loss on the derivative instruments is reported as a component of accumulated other comprehensive loss until reclassified to interest expense in the same period the hedge transaction affects earnings .', 'fair value measurements fair value is defined under gaap as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date .', 'a fair value hierarchy has been established for valuation inputs to prioritize the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market .', 'each fair value measurement is reported in one of the three levels which is determined by the lowest level input that is significant to the fair value measurement in its entirety .', 'these levels are : level 1 2013 observable inputs such as quoted prices for identical instruments traded in active markets .', 'level 2 2013 inputs are based on quoted prices for similar instruments in active markets , quoted prices for identical or similar instruments in markets that are not active and model-based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities .', 'level 3 2013 inputs are generally unobservable and typically reflect management 2019s estimates of assumptions that market participants would use in pricing the asset or liability .', 'the fair values are therefore determined using model-based techniques that include option pricing models , discounted cash flow models and similar techniques .', 'accumulated other comprehensive loss the components of accumulated other comprehensive loss included in stockholders 2019 equity are as follows: .']
Table:
****************************************
( in millions ) years ended december 31 , 2017 years ended december 31 , 2016 years ended december 31 , 2015
foreign currency translation $ -96.1 ( 96.1 ) $ -139.6 ( 139.6 ) $ -61.1 ( 61.1 )
unrealized gain from hedge accounting 0.2 2014 2014
accumulated other comprehensive loss $ -95.9 ( 95.9 ) $ -139.6 ( 139.6 ) $ -61.1 ( 61.1 )
****************************************
Additional Information: ['revenue recognition the company is a primary distribution channel for a large group of vendors and suppliers , including original equipment manufacturers ( 201coems 201d ) , software publishers , wholesale distributors and cloud providers .', 'the company records revenue from sales transactions when title and risk of loss are passed to the customer , there is persuasive evidence of an arrangement for sale , delivery has occurred and/or services have been rendered , the sales price is fixed or determinable , and collectability is reasonably assured .', 'the company 2019s shipping terms typically specify f.o.b .', 'destination , at which time title and risk of loss have passed to the customer .', 'revenues from the sales of hardware products and software licenses are generally recognized on a gross basis with the selling price to the customer recorded as sales and the acquisition cost of the product recorded as cost of sales .', 'these items can be delivered to customers in a variety of ways , including ( i ) as physical product shipped from the company 2019s warehouse , ( ii ) via drop-shipment by the vendor or supplier , or ( iii ) via electronic delivery for software licenses .', 'at the time of sale , the company records an estimate for sales returns and allowances based on historical experience .', 'the company 2019s vendor partners warrant most of the products the company sells .', 'the company leverages drop-shipment arrangements with many of its vendors and suppliers to deliver products to its customers without having to physically hold the inventory at its warehouses , thereby increasing efficiency and reducing .'] | 98.93333 | CDW/2017/page_73.pdf-2 | ['table of contents cdw corporation and subsidiaries method or straight-line method , as applicable .', 'the company classifies deferred financing costs as a direct deduction from the carrying value of the long-term debt liability on the consolidated balance sheets , except for deferred financing costs associated with revolving credit facilities which are presented as an asset , within other assets on the consolidated balance sheets .', 'derivative instruments the company has interest rate cap agreements for the purpose of hedging its exposure to fluctuations in interest rates .', 'the interest rate cap agreements are designated as cash flow hedges of interest rate risk and recorded at fair value in other assets on the consolidated balance sheets .', 'the gain or loss on the derivative instruments is reported as a component of accumulated other comprehensive loss until reclassified to interest expense in the same period the hedge transaction affects earnings .', 'fair value measurements fair value is defined under gaap as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date .', 'a fair value hierarchy has been established for valuation inputs to prioritize the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market .', 'each fair value measurement is reported in one of the three levels which is determined by the lowest level input that is significant to the fair value measurement in its entirety .', 'these levels are : level 1 2013 observable inputs such as quoted prices for identical instruments traded in active markets .', 'level 2 2013 inputs are based on quoted prices for similar instruments in active markets , quoted prices for identical or similar instruments in markets that are not active and model-based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities .', 'level 3 2013 inputs are generally unobservable and typically reflect management 2019s estimates of assumptions that market participants would use in pricing the asset or liability .', 'the fair values are therefore determined using model-based techniques that include option pricing models , discounted cash flow models and similar techniques .', 'accumulated other comprehensive loss the components of accumulated other comprehensive loss included in stockholders 2019 equity are as follows: .'] | ['revenue recognition the company is a primary distribution channel for a large group of vendors and suppliers , including original equipment manufacturers ( 201coems 201d ) , software publishers , wholesale distributors and cloud providers .', 'the company records revenue from sales transactions when title and risk of loss are passed to the customer , there is persuasive evidence of an arrangement for sale , delivery has occurred and/or services have been rendered , the sales price is fixed or determinable , and collectability is reasonably assured .', 'the company 2019s shipping terms typically specify f.o.b .', 'destination , at which time title and risk of loss have passed to the customer .', 'revenues from the sales of hardware products and software licenses are generally recognized on a gross basis with the selling price to the customer recorded as sales and the acquisition cost of the product recorded as cost of sales .', 'these items can be delivered to customers in a variety of ways , including ( i ) as physical product shipped from the company 2019s warehouse , ( ii ) via drop-shipment by the vendor or supplier , or ( iii ) via electronic delivery for software licenses .', 'at the time of sale , the company records an estimate for sales returns and allowances based on historical experience .', 'the company 2019s vendor partners warrant most of the products the company sells .', 'the company leverages drop-shipment arrangements with many of its vendors and suppliers to deliver products to its customers without having to physically hold the inventory at its warehouses , thereby increasing efficiency and reducing .'] | ****************************************
( in millions ) years ended december 31 , 2017 years ended december 31 , 2016 years ended december 31 , 2015
foreign currency translation $ -96.1 ( 96.1 ) $ -139.6 ( 139.6 ) $ -61.1 ( 61.1 )
unrealized gain from hedge accounting 0.2 2014 2014
accumulated other comprehensive loss $ -95.9 ( 95.9 ) $ -139.6 ( 139.6 ) $ -61.1 ( 61.1 )
**************************************** | add(96.1, 139.6), add(#0, 61.1), divide(#1, const_3) | 98.93333 |
what is the percentage change in total liabilities for litigation settlements from 2006 to 2007? | Pre-text: ['mastercard incorporated notes to consolidated financial statements 2014 ( continued ) ( in thousands , except percent and per share data ) on june 24 , 2008 , mastercard entered into a settlement agreement ( the 201camerican express settlement 201d ) with american express company ( 201camerican express 201d ) relating to the u.s .', 'federal antitrust litigation between mastercard and american express .', 'the american express settlement ended all existing litigation between mastercard and american express .', 'under the terms of the american express settlement , mastercard is obligated to make 12 quarterly payments of up to $ 150000 per quarter beginning in the third quarter of 2008 .', 'mastercard 2019s maximum nominal payments will total $ 1800000 .', 'the amount of each quarterly payment is contingent on the performance of american express 2019s u.s .', 'global network services business .', 'the quarterly payments will be in an amount equal to 15% ( 15 % ) of american express 2019s u.s .', 'global network services billings during the quarter , up to a maximum of $ 150000 per quarter .', 'if , however , the payment for any quarter is less than $ 150000 , the maximum payment for subsequent quarters will be increased by the difference between $ 150000 and the lesser amount that was paid in any quarter in which there was a shortfall .', 'mastercard assumes american express will achieve these financial hurdles .', 'mastercard recorded the present value of $ 1800000 , at a 5.75% ( 5.75 % ) discount rate , or $ 1649345 for the year ended december 31 , 2008 .', 'in 2003 , mastercard entered into a settlement agreement ( the 201cu.s .', 'merchant lawsuit settlement 201d ) related to the u.s .', 'merchant lawsuit described under the caption 201cu.s .', 'merchant and consumer litigations 201d in note 20 ( legal and regulatory proceedings ) and contract disputes with certain customers .', 'under the terms of the u.s .', 'merchant lawsuit settlement , the company was required to pay $ 125000 in 2003 and $ 100000 annually each december from 2004 through 2012 .', 'in addition , in 2003 , several other lawsuits were initiated by merchants who opted not to participate in the plaintiff class in the u.s .', 'merchant lawsuit .', 'the 201copt-out 201d merchant lawsuits were not covered by the terms of the u.s .', 'merchant lawsuit settlement and all have been individually settled .', 'we recorded liabilities for certain litigation settlements in prior periods .', 'total liabilities for litigation settlements changed from december 31 , 2006 , as follows: .']
------
Data Table:
balance as of december 31 2006, $ 476915
provision for litigation settlements ( note 20 ), 3400
interest accretion on u.s . merchant lawsuit, 38046
payments, -113925 ( 113925 )
balance as of december 31 2007, 404436
provision for discover settlement, 862500
provision for american express settlement, 1649345
provision for other litigation settlements, 6000
interest accretion on u.s . merchant lawsuit settlement, 32879
interest accretion on american express settlement, 44300
payments on american express settlement, -300000 ( 300000 )
payments on discover settlement, -862500 ( 862500 )
payment on u.s . merchant lawsuit settlement, -100000 ( 100000 )
other payments and accretion, -662 ( 662 )
balance as of december 31 2008, $ 1736298
------
Follow-up: ['see note 20 ( legal and regulatory proceedings ) for additional discussion regarding the company 2019s legal proceedings. .'] | -0.15197 | MA/2008/page_126.pdf-1 | ['mastercard incorporated notes to consolidated financial statements 2014 ( continued ) ( in thousands , except percent and per share data ) on june 24 , 2008 , mastercard entered into a settlement agreement ( the 201camerican express settlement 201d ) with american express company ( 201camerican express 201d ) relating to the u.s .', 'federal antitrust litigation between mastercard and american express .', 'the american express settlement ended all existing litigation between mastercard and american express .', 'under the terms of the american express settlement , mastercard is obligated to make 12 quarterly payments of up to $ 150000 per quarter beginning in the third quarter of 2008 .', 'mastercard 2019s maximum nominal payments will total $ 1800000 .', 'the amount of each quarterly payment is contingent on the performance of american express 2019s u.s .', 'global network services business .', 'the quarterly payments will be in an amount equal to 15% ( 15 % ) of american express 2019s u.s .', 'global network services billings during the quarter , up to a maximum of $ 150000 per quarter .', 'if , however , the payment for any quarter is less than $ 150000 , the maximum payment for subsequent quarters will be increased by the difference between $ 150000 and the lesser amount that was paid in any quarter in which there was a shortfall .', 'mastercard assumes american express will achieve these financial hurdles .', 'mastercard recorded the present value of $ 1800000 , at a 5.75% ( 5.75 % ) discount rate , or $ 1649345 for the year ended december 31 , 2008 .', 'in 2003 , mastercard entered into a settlement agreement ( the 201cu.s .', 'merchant lawsuit settlement 201d ) related to the u.s .', 'merchant lawsuit described under the caption 201cu.s .', 'merchant and consumer litigations 201d in note 20 ( legal and regulatory proceedings ) and contract disputes with certain customers .', 'under the terms of the u.s .', 'merchant lawsuit settlement , the company was required to pay $ 125000 in 2003 and $ 100000 annually each december from 2004 through 2012 .', 'in addition , in 2003 , several other lawsuits were initiated by merchants who opted not to participate in the plaintiff class in the u.s .', 'merchant lawsuit .', 'the 201copt-out 201d merchant lawsuits were not covered by the terms of the u.s .', 'merchant lawsuit settlement and all have been individually settled .', 'we recorded liabilities for certain litigation settlements in prior periods .', 'total liabilities for litigation settlements changed from december 31 , 2006 , as follows: .'] | ['see note 20 ( legal and regulatory proceedings ) for additional discussion regarding the company 2019s legal proceedings. .'] | balance as of december 31 2006, $ 476915
provision for litigation settlements ( note 20 ), 3400
interest accretion on u.s . merchant lawsuit, 38046
payments, -113925 ( 113925 )
balance as of december 31 2007, 404436
provision for discover settlement, 862500
provision for american express settlement, 1649345
provision for other litigation settlements, 6000
interest accretion on u.s . merchant lawsuit settlement, 32879
interest accretion on american express settlement, 44300
payments on american express settlement, -300000 ( 300000 )
payments on discover settlement, -862500 ( 862500 )
payment on u.s . merchant lawsuit settlement, -100000 ( 100000 )
other payments and accretion, -662 ( 662 )
balance as of december 31 2008, $ 1736298 | subtract(404436, 476915), divide(#0, 476915) | -0.15197 |
what is the monthly average of withheld shares from october to december 2017? | Background: ['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 .']
######
Tabular Data:
, total number ofshares ( or units ) purchased1, average price paidper share ( or unit ) 2, total number ofshares ( or units ) purchased as part ofpublicly announcedplans or programs3, maximum number ( orapproximate dollar value ) of shares ( or units ) that may yet be purchasedunder the plans orprograms3
october 1 - 31, 1231868, $ 20.74, 1230394, $ 214001430
november 1 - 30, 1723139, $ 18.89, 1722246, $ 181474975
december 1 - 31, 1295639, $ 20.25, 1285000, $ 155459545
total, 4250646, $ 19.84, 4237640,
######
Additional Information: ['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. .'] | 4335.33333 | IPG/2017/page_26.pdf-4 | ['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 .'] | ['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. .'] | , total number ofshares ( or units ) purchased1, average price paidper share ( or unit ) 2, total number ofshares ( or units ) purchased as part ofpublicly announcedplans or programs3, maximum number ( orapproximate dollar value ) of shares ( or units ) that may yet be purchasedunder the plans orprograms3
october 1 - 31, 1231868, $ 20.74, 1230394, $ 214001430
november 1 - 30, 1723139, $ 18.89, 1722246, $ 181474975
december 1 - 31, 1295639, $ 20.25, 1285000, $ 155459545
total, 4250646, $ 19.84, 4237640, | add(1474, 893), add(#0, 10639), divide(#1, const_3) | 4335.33333 |
in 2012 what was the percentage increase in the number of shares outstanding | Background: ['the weighted average grant date fair value of options granted during 2012 , 2011 , and 2010 was $ 13 , $ 19 and $ 20 per share , respectively .', 'the total intrinsic value of options exercised during the years ended december 31 , 2012 , 2011 and 2010 , was $ 19.0 million , $ 4.2 million and $ 15.6 million , respectively .', 'in 2012 , the company granted 931340 shares of restricted class a common stock and 4048 shares of restricted stock units .', 'restricted common stock and restricted stock units generally have a vesting period of 2 to 4 years .', 'the fair value related to these grants was $ 54.5 million , which is recognized as compensation expense on an accelerated basis over the vesting period .', 'beginning with restricted stock grants in september 2010 , dividends are accrued on restricted class a common stock and restricted stock units and are paid once the restricted stock vests .', 'in 2012 , the company also granted 138410 performance shares .', 'the fair value related to these grants was $ 7.7 million , which is recognized as compensation expense on an accelerated and straight-lined basis over the vesting period .', 'the vesting of these shares is contingent on meeting stated performance or market conditions .', 'the following table summarizes restricted stock , restricted stock units , and performance shares activity for 2012 : number of shares weighted average grant date fair value outstanding at december 31 , 2011 .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '1432610 $ 57 .']
##########
Data Table:
----------------------------------------
| number of shares | weightedaveragegrant datefair value
----------|----------|----------
outstanding at december 31 2011 | 1432610 | $ 57
granted | 1073798 | 54
vested | -366388 ( 366388 ) | 55
cancelled | -226493 ( 226493 ) | 63
outstanding at december 31 2012 | 1913527 | 54
----------------------------------------
##########
Additional Information: ['outstanding at december 31 , 2012 .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '1913527 54 the total fair value of restricted stock , restricted stock units , and performance shares that vested during the years ended december 31 , 2012 , 2011 and 2010 , was $ 20.9 million , $ 11.6 million and $ 10.3 million , respectively .', 'eligible employees may acquire shares of class a common stock using after-tax payroll deductions made during consecutive offering periods of approximately six months in duration .', 'shares are purchased at the end of each offering period at a price of 90% ( 90 % ) of the closing price of the class a common stock as reported on the nasdaq global select market .', 'compensation expense is recognized on the dates of purchase for the discount from the closing price .', 'in 2012 , 2011 and 2010 , a total of 27768 , 32085 and 21855 shares , respectively , of class a common stock were issued to participating employees .', 'these shares are subject to a six-month holding period .', 'annual expense of $ 0.1 million , $ 0.2 million and $ 0.1 million for the purchase discount was recognized in 2012 , 2011 and 2010 , respectively .', 'non-executive directors receive an annual award of class a common stock with a value equal to $ 75000 .', 'non-executive directors may also elect to receive some or all of the cash portion of their annual stipend , up to $ 25000 , in shares of stock based on the closing price at the date of distribution .', 'as a result , 40260 , 40585 and 37350 shares of class a common stock were issued to non-executive directors during 2012 , 2011 and 2010 , respectively .', 'these shares are not subject to any vesting restrictions .', 'expense of $ 2.2 million , $ 2.1 million and $ 2.4 million related to these stock-based payments was recognized for the years ended december 31 , 2012 , 2011 and 2010 , respectively .', '19 .', 'fair value measurements in general , the company uses quoted prices in active markets for identical assets to determine the fair value of marketable securities and equity investments .', 'level 1 assets generally include u.s .', 'treasury securities , equity securities listed in active markets , and investments in publicly traded mutual funds with quoted market prices .', 'if quoted prices are not available to determine fair value , the company uses other inputs that are directly observable .', 'assets included in level 2 generally consist of asset- backed securities , municipal bonds , u.s .', 'government agency securities and interest rate swap contracts .', 'asset-backed securities , municipal bonds and u.s .', 'government agency securities were measured at fair value based on matrix pricing using prices of similar securities with similar inputs such as maturity dates , interest rates and credit ratings .', 'the company determined the fair value of its interest rate swap contracts using standard valuation models with market-based observable inputs including forward and spot exchange rates and interest rate curves. .'] | 0.0 | CME/2012/page_107.pdf-1 | ['the weighted average grant date fair value of options granted during 2012 , 2011 , and 2010 was $ 13 , $ 19 and $ 20 per share , respectively .', 'the total intrinsic value of options exercised during the years ended december 31 , 2012 , 2011 and 2010 , was $ 19.0 million , $ 4.2 million and $ 15.6 million , respectively .', 'in 2012 , the company granted 931340 shares of restricted class a common stock and 4048 shares of restricted stock units .', 'restricted common stock and restricted stock units generally have a vesting period of 2 to 4 years .', 'the fair value related to these grants was $ 54.5 million , which is recognized as compensation expense on an accelerated basis over the vesting period .', 'beginning with restricted stock grants in september 2010 , dividends are accrued on restricted class a common stock and restricted stock units and are paid once the restricted stock vests .', 'in 2012 , the company also granted 138410 performance shares .', 'the fair value related to these grants was $ 7.7 million , which is recognized as compensation expense on an accelerated and straight-lined basis over the vesting period .', 'the vesting of these shares is contingent on meeting stated performance or market conditions .', 'the following table summarizes restricted stock , restricted stock units , and performance shares activity for 2012 : number of shares weighted average grant date fair value outstanding at december 31 , 2011 .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '1432610 $ 57 .'] | ['outstanding at december 31 , 2012 .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '1913527 54 the total fair value of restricted stock , restricted stock units , and performance shares that vested during the years ended december 31 , 2012 , 2011 and 2010 , was $ 20.9 million , $ 11.6 million and $ 10.3 million , respectively .', 'eligible employees may acquire shares of class a common stock using after-tax payroll deductions made during consecutive offering periods of approximately six months in duration .', 'shares are purchased at the end of each offering period at a price of 90% ( 90 % ) of the closing price of the class a common stock as reported on the nasdaq global select market .', 'compensation expense is recognized on the dates of purchase for the discount from the closing price .', 'in 2012 , 2011 and 2010 , a total of 27768 , 32085 and 21855 shares , respectively , of class a common stock were issued to participating employees .', 'these shares are subject to a six-month holding period .', 'annual expense of $ 0.1 million , $ 0.2 million and $ 0.1 million for the purchase discount was recognized in 2012 , 2011 and 2010 , respectively .', 'non-executive directors receive an annual award of class a common stock with a value equal to $ 75000 .', 'non-executive directors may also elect to receive some or all of the cash portion of their annual stipend , up to $ 25000 , in shares of stock based on the closing price at the date of distribution .', 'as a result , 40260 , 40585 and 37350 shares of class a common stock were issued to non-executive directors during 2012 , 2011 and 2010 , respectively .', 'these shares are not subject to any vesting restrictions .', 'expense of $ 2.2 million , $ 2.1 million and $ 2.4 million related to these stock-based payments was recognized for the years ended december 31 , 2012 , 2011 and 2010 , respectively .', '19 .', 'fair value measurements in general , the company uses quoted prices in active markets for identical assets to determine the fair value of marketable securities and equity investments .', 'level 1 assets generally include u.s .', 'treasury securities , equity securities listed in active markets , and investments in publicly traded mutual funds with quoted market prices .', 'if quoted prices are not available to determine fair value , the company uses other inputs that are directly observable .', 'assets included in level 2 generally consist of asset- backed securities , municipal bonds , u.s .', 'government agency securities and interest rate swap contracts .', 'asset-backed securities , municipal bonds and u.s .', 'government agency securities were measured at fair value based on matrix pricing using prices of similar securities with similar inputs such as maturity dates , interest rates and credit ratings .', 'the company determined the fair value of its interest rate swap contracts using standard valuation models with market-based observable inputs including forward and spot exchange rates and interest rate curves. .'] | ----------------------------------------
| number of shares | weightedaveragegrant datefair value
----------|----------|----------
outstanding at december 31 2011 | 1432610 | $ 57
granted | 1073798 | 54
vested | -366388 ( 366388 ) | 55
cancelled | -226493 ( 226493 ) | 63
outstanding at december 31 2012 | 1913527 | 54
---------------------------------------- | divide(1913527, 1432610), divide(#0, 1432610) | 0.0 |
what was the total vesting date fair value of restricted stock awards which vested during 2007 , 2006 and 2005 in $ million? | Context: ['the following is a summary of stock-based performance award and restricted stock award activity .', 'stock-based performance awards weighted average grant date fair value restricted awards weighted average grant date fair value .']
Table:
========================================
unvested at december 31 2005, stock-based performance awards 897200, weightedaverage grantdate fair value $ 14.97, restricted stock awards 1971112, weightedaverage grantdate fair value $ 23.97
granted, 135696 ( a ), 38.41, 437960, 40.45
vested, -546896 ( 546896 ), 19.15, -777194 ( 777194 ), 20.59
forfeited, -12000 ( 12000 ), 16.81, -79580 ( 79580 ), 26.55
unvested at december 31 2006, 474000, 16.81, 1552298, 30.21
granted, 393420 ( a ), 44.13, 572897, 54.97
vested, -867420 ( 867420 ), 29.20, -557096 ( 557096 ), 28.86
forfeited, 2013, 2013, -40268 ( 40268 ), 34.55
unvested at december 31 2007, 2013, 2013, 1527831, 39.87
========================================
Additional Information: ['( a ) additional shares were issued in 2006 and 2007 because the performance targets were exceeded for the 36-month performance periods related to the 2003 and 2004 grants .', 'during 2007 , 2006 and 2005 the weighted average grant date fair value of restricted stock awards was $ 54.97 , $ 40.45 and $ 27.21 .', 'the vesting date fair value of stock-based performance awards which vested during 2007 , 2006 and 2005 was $ 38 million , $ 21 million and $ 5 million .', 'the vesting date fair value of restricted stock awards which vested during 2007 , 2006 and 2005 was $ 29 million , $ 32 million and $ 13 million .', 'as of december 31 , 2007 , there was $ 37 million of unrecognized compensation cost related to restricted stock awards which is expected to be recognized over a weighted average period of 1.4 year .', '25 .', 'stockholders 2019 equity common stock 2013 on april 25 , 2007 , marathon 2019s stockholders approved an increase in the number of authorized shares of common stock from 550 million to 1.1 billion shares , and the company 2019s board of directors subsequently declared a two-for-one split of the company 2019s common stock .', 'the stock split was effected in the form of a stock dividend distributed on june 18 , 2007 , to stockholders of record at the close of business on may 23 , 2007 .', 'stockholders received one additional share of marathon oil corporation common stock for each share of common stock held as of the close of business on the record date .', 'in addition , shares of common stock issued or issuable for stock-based awards under marathon 2019s incentive compensation plans were proportionately increased in accordance with the terms of the plans .', 'common stock and per share ( except par value ) information for all periods presented has been restated in the consolidated financial statements and notes to reflect the stock split .', 'during 2007 , 2006 and 2005 , marathon had the following common stock issuances in addition to shares issued for employee stock-based awards : 2022 on october 18 , 2007 , in connection with the acquisition of western discussed in note 6 , marathon distributed 29 million shares of its common stock valued at $ 55.70 per share to western 2019s shareholders .', '2022 on june 30 , 2005 , in connection with the acquisition of ashland 2019s minority interest in mpc discussed in note 6 , marathon distributed 35 million shares of its common stock valued at $ 27.23 per share to ashland 2019s shareholders .', 'marathon 2019s board of directors has authorized the repurchase of up to $ 5 billion of common stock .', 'purchases under the program may be in either open market transactions , including block purchases , or in privately negotiated transactions .', 'the company will use cash on hand , cash generated from operations , proceeds from potential asset sales or cash from available borrowings to acquire shares .', 'this program may be changed based upon the company 2019s financial condition or changes in market conditions and is subject to termination prior to completion .', 'the repurchase program does not include specific price targets or timetables .', 'as of december 31 , 2007 , the company had acquired 58 million common shares at a cost of $ 2.520 billion under the program , including 16 million common shares acquired during 2007 at a cost of $ 822 million and 42 million common shares acquired during 2006 at a cost of $ 1.698 billion. .'] | 74.0 | MRO/2007/page_136.pdf-1 | ['the following is a summary of stock-based performance award and restricted stock award activity .', 'stock-based performance awards weighted average grant date fair value restricted awards weighted average grant date fair value .'] | ['( a ) additional shares were issued in 2006 and 2007 because the performance targets were exceeded for the 36-month performance periods related to the 2003 and 2004 grants .', 'during 2007 , 2006 and 2005 the weighted average grant date fair value of restricted stock awards was $ 54.97 , $ 40.45 and $ 27.21 .', 'the vesting date fair value of stock-based performance awards which vested during 2007 , 2006 and 2005 was $ 38 million , $ 21 million and $ 5 million .', 'the vesting date fair value of restricted stock awards which vested during 2007 , 2006 and 2005 was $ 29 million , $ 32 million and $ 13 million .', 'as of december 31 , 2007 , there was $ 37 million of unrecognized compensation cost related to restricted stock awards which is expected to be recognized over a weighted average period of 1.4 year .', '25 .', 'stockholders 2019 equity common stock 2013 on april 25 , 2007 , marathon 2019s stockholders approved an increase in the number of authorized shares of common stock from 550 million to 1.1 billion shares , and the company 2019s board of directors subsequently declared a two-for-one split of the company 2019s common stock .', 'the stock split was effected in the form of a stock dividend distributed on june 18 , 2007 , to stockholders of record at the close of business on may 23 , 2007 .', 'stockholders received one additional share of marathon oil corporation common stock for each share of common stock held as of the close of business on the record date .', 'in addition , shares of common stock issued or issuable for stock-based awards under marathon 2019s incentive compensation plans were proportionately increased in accordance with the terms of the plans .', 'common stock and per share ( except par value ) information for all periods presented has been restated in the consolidated financial statements and notes to reflect the stock split .', 'during 2007 , 2006 and 2005 , marathon had the following common stock issuances in addition to shares issued for employee stock-based awards : 2022 on october 18 , 2007 , in connection with the acquisition of western discussed in note 6 , marathon distributed 29 million shares of its common stock valued at $ 55.70 per share to western 2019s shareholders .', '2022 on june 30 , 2005 , in connection with the acquisition of ashland 2019s minority interest in mpc discussed in note 6 , marathon distributed 35 million shares of its common stock valued at $ 27.23 per share to ashland 2019s shareholders .', 'marathon 2019s board of directors has authorized the repurchase of up to $ 5 billion of common stock .', 'purchases under the program may be in either open market transactions , including block purchases , or in privately negotiated transactions .', 'the company will use cash on hand , cash generated from operations , proceeds from potential asset sales or cash from available borrowings to acquire shares .', 'this program may be changed based upon the company 2019s financial condition or changes in market conditions and is subject to termination prior to completion .', 'the repurchase program does not include specific price targets or timetables .', 'as of december 31 , 2007 , the company had acquired 58 million common shares at a cost of $ 2.520 billion under the program , including 16 million common shares acquired during 2007 at a cost of $ 822 million and 42 million common shares acquired during 2006 at a cost of $ 1.698 billion. .'] | ========================================
unvested at december 31 2005, stock-based performance awards 897200, weightedaverage grantdate fair value $ 14.97, restricted stock awards 1971112, weightedaverage grantdate fair value $ 23.97
granted, 135696 ( a ), 38.41, 437960, 40.45
vested, -546896 ( 546896 ), 19.15, -777194 ( 777194 ), 20.59
forfeited, -12000 ( 12000 ), 16.81, -79580 ( 79580 ), 26.55
unvested at december 31 2006, 474000, 16.81, 1552298, 30.21
granted, 393420 ( a ), 44.13, 572897, 54.97
vested, -867420 ( 867420 ), 29.20, -557096 ( 557096 ), 28.86
forfeited, 2013, 2013, -40268 ( 40268 ), 34.55
unvested at december 31 2007, 2013, 2013, 1527831, 39.87
======================================== | add(29, 32), add(#0, 13) | 74.0 |
in 2009 what was the ratio of the interest rate caps to swaps | Context: ['kimco realty corporation and subsidiaries notes to consolidated financial statements , continued as of december 31 , 2009 , the company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk : interest rate derivates number of instruments notional .']
----------
Table:
========================================
interest rate derivates | number of instruments | notional
----------|----------|----------
interest rate caps | 2 | $ 83.1 million
interest rate swaps | 2 | $ 23.6 million
========================================
----------
Follow-up: ['the fair value of these derivative financial instruments classified as asset derivatives was $ 0.4 million and $ 0 for december 31 , 2009 and 2008 , respectively .', 'the fair value of these derivative financial instruments classified as liability derivatives was $ ( 0.5 ) million and $ ( 0.8 ) million for december 31 , 2009 and 2008 , respectively .', 'credit-risk-related contingent features the company has agreements with one of its derivative counterparties that contain a provision where if the company defaults on any of its indebtedness , including default where repayment of the indebtedness has not been accelerated by the lender , then the company could also be declared in default on its derivative obligations .', 'the company has an agreement with a derivative counterparty that incorporates the loan covenant provisions of the company 2019s indebtedness with a lender affiliate of the derivative counterparty .', 'failure to comply with the loan covenant provisions would result in the company being in default on any derivative instrument obligations covered by the agreement .', '18 .', 'preferred stock , common stock and convertible unit transactions : during december 2009 , the company completed a primary public stock offering of 28750000 shares of the company 2019s common stock .', 'the net proceeds from this sale of common stock , totaling approximately $ 345.1 million ( after related transaction costs of $ 0.75 million ) were used to partially repay the outstanding balance under the company 2019s u.s .', 'revolving credit facility .', 'during april 2009 , the company completed a primary public stock offering of 105225000 shares of the company 2019s common stock .', 'the net proceeds from this sale of common stock , totaling approximately $ 717.3 million ( after related transaction costs of $ 0.7 million ) were used to partially repay the outstanding balance under the company 2019s u.s .', 'revolving credit facility and for general corporate purposes .', 'during september 2008 , the company completed a primary public stock offering of 11500000 shares of the company 2019s common stock .', 'the net proceeds from this sale of common stock , totaling approximately $ 409.4 million ( after related transaction costs of $ 0.6 million ) were used to partially repay the outstanding balance under the company 2019s u.s .', 'revolving credit facility .', 'during october 2007 , the company issued 18400000 depositary shares ( the 201cclass g depositary shares 201d ) , after the exercise of an over-allotment option , each representing a one-hundredth fractional interest in a share of the company 2019s 7.75% ( 7.75 % ) class g cumulative redeemable preferred stock , par value $ 1.00 per share ( the 201cclass g preferred stock 201d ) .', 'dividends on the class g depositary shares are cumulative and payable quarterly in arrears at the rate of 7.75% ( 7.75 % ) per annum based on the $ 25.00 per share initial offering price , or $ 1.9375 per annum .', 'the class g depositary shares are redeemable , in whole or part , for cash on or after october 10 , 2012 , at the option of the company , at a redemption price of $ 25.00 per depositary share , plus any accrued and unpaid dividends thereon .', 'the class g depositary shares are not convertible or exchangeable for any other property or securities of the company .', 'the class g preferred stock ( represented by the class g depositary shares outstanding ) ranks pari passu with the company 2019s class f preferred stock as to voting rights , priority for receiving dividends and liquidation preference as set forth below .', 'during june 2003 , the company issued 7000000 depositary shares ( the 201cclass f depositary shares 201d ) , each such class f depositary share representing a one-tenth fractional interest of a share of the company 2019s 6.65% ( 6.65 % ) class f cumulative redeemable preferred stock , par value $ 1.00 per share ( the 201cclass f preferred stock 201d ) .', 'dividends on the class f depositary shares are cumulative and payable quarterly in arrears at the rate of 6.65% ( 6.65 % ) per annum based on the .'] | 3.52119 | KIM/2009/page_145.pdf-1 | ['kimco realty corporation and subsidiaries notes to consolidated financial statements , continued as of december 31 , 2009 , the company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk : interest rate derivates number of instruments notional .'] | ['the fair value of these derivative financial instruments classified as asset derivatives was $ 0.4 million and $ 0 for december 31 , 2009 and 2008 , respectively .', 'the fair value of these derivative financial instruments classified as liability derivatives was $ ( 0.5 ) million and $ ( 0.8 ) million for december 31 , 2009 and 2008 , respectively .', 'credit-risk-related contingent features the company has agreements with one of its derivative counterparties that contain a provision where if the company defaults on any of its indebtedness , including default where repayment of the indebtedness has not been accelerated by the lender , then the company could also be declared in default on its derivative obligations .', 'the company has an agreement with a derivative counterparty that incorporates the loan covenant provisions of the company 2019s indebtedness with a lender affiliate of the derivative counterparty .', 'failure to comply with the loan covenant provisions would result in the company being in default on any derivative instrument obligations covered by the agreement .', '18 .', 'preferred stock , common stock and convertible unit transactions : during december 2009 , the company completed a primary public stock offering of 28750000 shares of the company 2019s common stock .', 'the net proceeds from this sale of common stock , totaling approximately $ 345.1 million ( after related transaction costs of $ 0.75 million ) were used to partially repay the outstanding balance under the company 2019s u.s .', 'revolving credit facility .', 'during april 2009 , the company completed a primary public stock offering of 105225000 shares of the company 2019s common stock .', 'the net proceeds from this sale of common stock , totaling approximately $ 717.3 million ( after related transaction costs of $ 0.7 million ) were used to partially repay the outstanding balance under the company 2019s u.s .', 'revolving credit facility and for general corporate purposes .', 'during september 2008 , the company completed a primary public stock offering of 11500000 shares of the company 2019s common stock .', 'the net proceeds from this sale of common stock , totaling approximately $ 409.4 million ( after related transaction costs of $ 0.6 million ) were used to partially repay the outstanding balance under the company 2019s u.s .', 'revolving credit facility .', 'during october 2007 , the company issued 18400000 depositary shares ( the 201cclass g depositary shares 201d ) , after the exercise of an over-allotment option , each representing a one-hundredth fractional interest in a share of the company 2019s 7.75% ( 7.75 % ) class g cumulative redeemable preferred stock , par value $ 1.00 per share ( the 201cclass g preferred stock 201d ) .', 'dividends on the class g depositary shares are cumulative and payable quarterly in arrears at the rate of 7.75% ( 7.75 % ) per annum based on the $ 25.00 per share initial offering price , or $ 1.9375 per annum .', 'the class g depositary shares are redeemable , in whole or part , for cash on or after october 10 , 2012 , at the option of the company , at a redemption price of $ 25.00 per depositary share , plus any accrued and unpaid dividends thereon .', 'the class g depositary shares are not convertible or exchangeable for any other property or securities of the company .', 'the class g preferred stock ( represented by the class g depositary shares outstanding ) ranks pari passu with the company 2019s class f preferred stock as to voting rights , priority for receiving dividends and liquidation preference as set forth below .', 'during june 2003 , the company issued 7000000 depositary shares ( the 201cclass f depositary shares 201d ) , each such class f depositary share representing a one-tenth fractional interest of a share of the company 2019s 6.65% ( 6.65 % ) class f cumulative redeemable preferred stock , par value $ 1.00 per share ( the 201cclass f preferred stock 201d ) .', 'dividends on the class f depositary shares are cumulative and payable quarterly in arrears at the rate of 6.65% ( 6.65 % ) per annum based on the .'] | ========================================
interest rate derivates | number of instruments | notional
----------|----------|----------
interest rate caps | 2 | $ 83.1 million
interest rate swaps | 2 | $ 23.6 million
======================================== | divide(83.1, 23.6) | 3.52119 |
what is portion of the total consideration transferred is dedicated to trademarks? | Context: ['the company financed the acquisition with the proceeds from a $ 1.0 billion three-year term loan credit facility , $ 1.5 billion in unsecured notes , and the issuance of 61 million shares of aon common stock .', 'in addition , as part of the consideration , certain outstanding hewitt stock options were converted into options to purchase 4.5 million shares of aon common stock .', 'these items are detailed further in note 9 2018 2018debt 2019 2019 and note 12 2018 2018stockholders 2019 equity 2019 2019 .', 'the transaction has been accounted for using the acquisition method of accounting which requires , among other things , that most assets acquired and liabilities assumed be recognized at their fair values as of the acquisition date .', 'the following table summarizes the preliminary amounts recognized for assets acquired and liabilities assumed as of the acquisition date .', 'certain estimated values are not yet finalized ( see below ) and are subject to change , which could be significant .', 'the company will finalize the amounts recognized as information necessary to complete the analyses is obtained .', 'the company expects to finalize these amounts as soon as possible but no later than one year from the acquisition the following table summarizes the preliminary values of assets acquired and liabilities assumed as of the acquisition date ( in millions ) : amounts recorded as of the acquisition .']
####
Table:
----------------------------------------
, amountsrecorded as ofthe acquisitiondate
working capital ( 1 ), $ 391
property equipment and capitalized software, 319
identifiable intangible assets:,
customer relationships, 1800
trademarks, 890
technology, 215
other noncurrent assets ( 2 ), 344
long-term debt, 346
other noncurrent liabilities ( 3 ), 361
net deferred tax liability ( 4 ), 1035
net assets acquired, 2217
goodwill, 2715
total consideration transferred, $ 4932
----------------------------------------
####
Additional Information: ['( 1 ) includes cash and cash equivalents , short-term investments , client receivables , other current assets , accounts payable and other current liabilities .', '( 2 ) includes primarily deferred contract costs and long-term investments .', '( 3 ) includes primarily unfavorable lease obligations and deferred contract revenues .', '( 4 ) included in other current assets ( $ 31 million ) , deferred tax assets ( $ 62 million ) , other current liabilities ( $ 32 million ) and deferred tax liabilities ( $ 1.1 billion ) in the company 2019s consolidated statements of financial position .', 'the acquired customer relationships are being amortized over a weighted average life of 12 years .', 'the technology asset is being amortized over 7 years and trademarks have been determined to have indefinite useful lives .', 'goodwill is calculated as the excess of the consideration transferred over the net assets acquired and represents the synergies and other benefits that are expected to arise from combining the operations of hewitt with the operations of aon , and the future economic benefits arising from other .'] | 0.18045 | AON/2010/page_86.pdf-2 | ['the company financed the acquisition with the proceeds from a $ 1.0 billion three-year term loan credit facility , $ 1.5 billion in unsecured notes , and the issuance of 61 million shares of aon common stock .', 'in addition , as part of the consideration , certain outstanding hewitt stock options were converted into options to purchase 4.5 million shares of aon common stock .', 'these items are detailed further in note 9 2018 2018debt 2019 2019 and note 12 2018 2018stockholders 2019 equity 2019 2019 .', 'the transaction has been accounted for using the acquisition method of accounting which requires , among other things , that most assets acquired and liabilities assumed be recognized at their fair values as of the acquisition date .', 'the following table summarizes the preliminary amounts recognized for assets acquired and liabilities assumed as of the acquisition date .', 'certain estimated values are not yet finalized ( see below ) and are subject to change , which could be significant .', 'the company will finalize the amounts recognized as information necessary to complete the analyses is obtained .', 'the company expects to finalize these amounts as soon as possible but no later than one year from the acquisition the following table summarizes the preliminary values of assets acquired and liabilities assumed as of the acquisition date ( in millions ) : amounts recorded as of the acquisition .'] | ['( 1 ) includes cash and cash equivalents , short-term investments , client receivables , other current assets , accounts payable and other current liabilities .', '( 2 ) includes primarily deferred contract costs and long-term investments .', '( 3 ) includes primarily unfavorable lease obligations and deferred contract revenues .', '( 4 ) included in other current assets ( $ 31 million ) , deferred tax assets ( $ 62 million ) , other current liabilities ( $ 32 million ) and deferred tax liabilities ( $ 1.1 billion ) in the company 2019s consolidated statements of financial position .', 'the acquired customer relationships are being amortized over a weighted average life of 12 years .', 'the technology asset is being amortized over 7 years and trademarks have been determined to have indefinite useful lives .', 'goodwill is calculated as the excess of the consideration transferred over the net assets acquired and represents the synergies and other benefits that are expected to arise from combining the operations of hewitt with the operations of aon , and the future economic benefits arising from other .'] | ----------------------------------------
, amountsrecorded as ofthe acquisitiondate
working capital ( 1 ), $ 391
property equipment and capitalized software, 319
identifiable intangible assets:,
customer relationships, 1800
trademarks, 890
technology, 215
other noncurrent assets ( 2 ), 344
long-term debt, 346
other noncurrent liabilities ( 3 ), 361
net deferred tax liability ( 4 ), 1035
net assets acquired, 2217
goodwill, 2715
total consideration transferred, $ 4932
---------------------------------------- | divide(890, 4932) | 0.18045 |
what percentage of total revenue in 2008 came from the asia-pacific region? | Context: ['executive deferred compensation plan for the company 2019s executives and members of the board of directors , the company adopted the illumina , inc .', 'deferred compensation plan ( the plan ) that became effective january 1 , 2008 .', 'eligible participants can contribute up to 80% ( 80 % ) of their base salary and 100% ( 100 % ) of all other forms of compensation into the plan , including bonus , commission and director fees .', 'the company has agreed to credit the participants 2019 contributions with earnings that reflect the performance of certain independent investment funds .', 'on a discretionary basis , the company may also make employer contributions to participant accounts in any amount determined by the company .', 'the vesting schedules of employer contributions are at the sole discretion of the compensation committee .', 'however , all employer contributions shall become 100% ( 100 % ) vested upon the occurrence of the participant 2019s disability , death or retirement or a change in control of the company .', 'the benefits under this plan are unsecured .', 'participants are generally eligible to receive payment of their vested benefit at the end of their elected deferral period or after termination of their employment with the company for any reason or at a later date to comply with the restrictions of section 409a .', 'as of december 28 , 2008 , no employer contributions were made to the plan .', 'in january 2008 , the company also established a rabbi trust for the benefit of its directors and executives under the plan .', 'in accordance with fasb interpretation ( fin ) no .', '46 , consolidation of variable interest entities , an interpretation of arb no .', '51 , and eitf 97-14 , accounting for deferred compensation arrangements where amounts earned are held in a rabbi trust and invested , the company has included the assets of the rabbi trust in its consolidated balance sheet since the trust 2019s inception .', 'as of december 28 , 2008 , the assets of the trust and liabilities of the company were $ 1.3 million .', 'the assets and liabilities are classified as other assets and accrued liabilities , respectively , on the company 2019s balance sheet as of december 28 , 2008 .', 'changes in the values of the assets held by the rabbi trust accrue to the company .', '14 .', 'segment information , geographic data and significant customers during the first quarter of 2008 , the company reorganized its operating structure into a newly created life sciences business unit , which includes all products and services related to the research market , namely the beadarray , beadxpress and sequencing product lines .', 'the company also created a diagnostics business unit to focus on the emerging opportunity in molecular diagnostics .', 'for the year ended december 28 , 2008 , the company had limited activity related to the diagnostics business unit , and operating results were reported on an aggregate basis to the chief operating decision maker of the company , the chief executive officer .', 'in accordance with sfas no .', '131 , disclosures about segments of an enterprise and related information , the company operated in one reportable segment for the year ended december 28 , 2008 .', 'the company had revenue in the following regions for the years ended december 28 , 2008 , december 30 , 2007 and december 31 , 2006 ( in thousands ) : year ended december 28 , year ended december 30 , year ended december 31 .']
--
Data Table:
========================================
year ended december 28 2008 year ended december 30 2007 year ended december 31 2006
united states $ 280064 $ 207692 $ 103043
united kingdom 67973 34196 22840
other european countries 127397 75360 32600
asia-pacific 72740 35155 15070
other markets 25051 14396 11033
total $ 573225 $ 366799 $ 184586
========================================
--
Follow-up: ['net revenues are attributable to geographic areas based on the region of destination .', 'illumina , inc .', 'notes to consolidated financial statements 2014 ( continued ) .'] | 0.1269 | ILMN/2008/page_87.pdf-1 | ['executive deferred compensation plan for the company 2019s executives and members of the board of directors , the company adopted the illumina , inc .', 'deferred compensation plan ( the plan ) that became effective january 1 , 2008 .', 'eligible participants can contribute up to 80% ( 80 % ) of their base salary and 100% ( 100 % ) of all other forms of compensation into the plan , including bonus , commission and director fees .', 'the company has agreed to credit the participants 2019 contributions with earnings that reflect the performance of certain independent investment funds .', 'on a discretionary basis , the company may also make employer contributions to participant accounts in any amount determined by the company .', 'the vesting schedules of employer contributions are at the sole discretion of the compensation committee .', 'however , all employer contributions shall become 100% ( 100 % ) vested upon the occurrence of the participant 2019s disability , death or retirement or a change in control of the company .', 'the benefits under this plan are unsecured .', 'participants are generally eligible to receive payment of their vested benefit at the end of their elected deferral period or after termination of their employment with the company for any reason or at a later date to comply with the restrictions of section 409a .', 'as of december 28 , 2008 , no employer contributions were made to the plan .', 'in january 2008 , the company also established a rabbi trust for the benefit of its directors and executives under the plan .', 'in accordance with fasb interpretation ( fin ) no .', '46 , consolidation of variable interest entities , an interpretation of arb no .', '51 , and eitf 97-14 , accounting for deferred compensation arrangements where amounts earned are held in a rabbi trust and invested , the company has included the assets of the rabbi trust in its consolidated balance sheet since the trust 2019s inception .', 'as of december 28 , 2008 , the assets of the trust and liabilities of the company were $ 1.3 million .', 'the assets and liabilities are classified as other assets and accrued liabilities , respectively , on the company 2019s balance sheet as of december 28 , 2008 .', 'changes in the values of the assets held by the rabbi trust accrue to the company .', '14 .', 'segment information , geographic data and significant customers during the first quarter of 2008 , the company reorganized its operating structure into a newly created life sciences business unit , which includes all products and services related to the research market , namely the beadarray , beadxpress and sequencing product lines .', 'the company also created a diagnostics business unit to focus on the emerging opportunity in molecular diagnostics .', 'for the year ended december 28 , 2008 , the company had limited activity related to the diagnostics business unit , and operating results were reported on an aggregate basis to the chief operating decision maker of the company , the chief executive officer .', 'in accordance with sfas no .', '131 , disclosures about segments of an enterprise and related information , the company operated in one reportable segment for the year ended december 28 , 2008 .', 'the company had revenue in the following regions for the years ended december 28 , 2008 , december 30 , 2007 and december 31 , 2006 ( in thousands ) : year ended december 28 , year ended december 30 , year ended december 31 .'] | ['net revenues are attributable to geographic areas based on the region of destination .', 'illumina , inc .', 'notes to consolidated financial statements 2014 ( continued ) .'] | ========================================
year ended december 28 2008 year ended december 30 2007 year ended december 31 2006
united states $ 280064 $ 207692 $ 103043
united kingdom 67973 34196 22840
other european countries 127397 75360 32600
asia-pacific 72740 35155 15070
other markets 25051 14396 11033
total $ 573225 $ 366799 $ 184586
======================================== | divide(72740, 573225) | 0.1269 |
what is the growth rate in rental expense under operating leases in 2007? | Context: ['stock option gains previously deferred by those participants pursuant to the terms of the deferred compensation plan and earnings on those deferred amounts .', 'as a result of certain provisions of the american jobs creation act , participants had the opportunity until december 31 , 2005 to elect to withdraw amounts previously deferred .', '11 .', 'lease commitments the company leases certain of its facilities , equipment and software under various operating leases that expire at various dates through 2022 .', 'the lease agreements frequently include renewal and escalation clauses and require the company to pay taxes , insurance and maintenance costs .', 'total rental expense under operating leases was approximately $ 43 million in fiscal 2007 , $ 45 million in fiscal 2006 and $ 44 million in fiscal 2005 .', 'the following is a schedule of future minimum rental payments required under long-term operating leases at november 3 , 2007 : fiscal years operating leases .']
Table:
----------------------------------------
fiscal years, operating leases
2008, $ 30774
2009, $ 25906
2010, $ 13267
2011, $ 5430
2012, $ 3842
later years, $ 12259
total, $ 91478
----------------------------------------
Post-table: ['12 .', 'commitments and contingencies tentative settlement of the sec 2019s previously announced stock option investigation in the company 2019s 2004 form 10-k filing , the company disclosed that the securities and exchange com- mission ( sec ) had initiated an inquiry into its stock option granting practices , focusing on options that were granted shortly before the issuance of favorable financial results .', 'on november 15 , 2005 , the company announced that it had reached a tentative settlement with the sec .', 'at all times since receiving notice of this inquiry , the company has cooperated with the sec .', 'in november 2005 , the company and its president and ceo , mr .', 'jerald g .', 'fishman , made an offer of settlement to the staff of the sec .', 'the settlement has been submitted to the commission for approval .', 'there can be no assurance a final settlement will be so approved .', 'the sec 2019s inquiry focused on two separate issues .', 'the first issue concerned the company 2019s disclosure regarding grants of options to employees and directors prior to the release of favorable financial results .', 'specifically , the issue related to options granted to employees ( including officers ) of the company on november 30 , 1999 and to employees ( including officers ) and directors of the company on november 10 , 2000 .', 'the second issue concerned the grant dates for options granted to employees ( including officers ) in 1998 and 1999 , and the grant date for options granted to employees ( including officers ) and directors in 2001 .', 'specifically , the settlement would conclude that the appropriate grant date for the september 4 , 1998 options should have been september 8th ( which is one trading day later than the date that was used to price the options ) ; the appropriate grant date for the november 30 , 1999 options should have been november 29th ( which is one trading day earlier than the date that was used ) ; and the appropriate grant date for the july 18 , 2001 options should have been july 26th ( which is five trading days after the original date ) .', 'analog devices , inc .', 'notes to consolidated financial statements 2014 ( continued ) .'] | -0.04444 | ADI/2007/page_82.pdf-1 | ['stock option gains previously deferred by those participants pursuant to the terms of the deferred compensation plan and earnings on those deferred amounts .', 'as a result of certain provisions of the american jobs creation act , participants had the opportunity until december 31 , 2005 to elect to withdraw amounts previously deferred .', '11 .', 'lease commitments the company leases certain of its facilities , equipment and software under various operating leases that expire at various dates through 2022 .', 'the lease agreements frequently include renewal and escalation clauses and require the company to pay taxes , insurance and maintenance costs .', 'total rental expense under operating leases was approximately $ 43 million in fiscal 2007 , $ 45 million in fiscal 2006 and $ 44 million in fiscal 2005 .', 'the following is a schedule of future minimum rental payments required under long-term operating leases at november 3 , 2007 : fiscal years operating leases .'] | ['12 .', 'commitments and contingencies tentative settlement of the sec 2019s previously announced stock option investigation in the company 2019s 2004 form 10-k filing , the company disclosed that the securities and exchange com- mission ( sec ) had initiated an inquiry into its stock option granting practices , focusing on options that were granted shortly before the issuance of favorable financial results .', 'on november 15 , 2005 , the company announced that it had reached a tentative settlement with the sec .', 'at all times since receiving notice of this inquiry , the company has cooperated with the sec .', 'in november 2005 , the company and its president and ceo , mr .', 'jerald g .', 'fishman , made an offer of settlement to the staff of the sec .', 'the settlement has been submitted to the commission for approval .', 'there can be no assurance a final settlement will be so approved .', 'the sec 2019s inquiry focused on two separate issues .', 'the first issue concerned the company 2019s disclosure regarding grants of options to employees and directors prior to the release of favorable financial results .', 'specifically , the issue related to options granted to employees ( including officers ) of the company on november 30 , 1999 and to employees ( including officers ) and directors of the company on november 10 , 2000 .', 'the second issue concerned the grant dates for options granted to employees ( including officers ) in 1998 and 1999 , and the grant date for options granted to employees ( including officers ) and directors in 2001 .', 'specifically , the settlement would conclude that the appropriate grant date for the september 4 , 1998 options should have been september 8th ( which is one trading day later than the date that was used to price the options ) ; the appropriate grant date for the november 30 , 1999 options should have been november 29th ( which is one trading day earlier than the date that was used ) ; and the appropriate grant date for the july 18 , 2001 options should have been july 26th ( which is five trading days after the original date ) .', 'analog devices , inc .', 'notes to consolidated financial statements 2014 ( continued ) .'] | ----------------------------------------
fiscal years, operating leases
2008, $ 30774
2009, $ 25906
2010, $ 13267
2011, $ 5430
2012, $ 3842
later years, $ 12259
total, $ 91478
---------------------------------------- | subtract(43, 45), divide(#0, 45) | -0.04444 |
what was the percentage change in income before interest and taxes between 2003 and 2004? | Background: ['instruments at fair value and to recognize the effective and ineffective portions of the cash flow hedges .', '( 2 ) for the year ended december 31 , 2000 , earnings available to common stockholders includes reductions of $ 2371 of preferred stock dividends and $ 16266 for the redemption of pca 2019s 123 20448% ( 20448 % ) preferred stock .', '( 3 ) on october 13 , 2003 , pca announced its intention to begin paying a quarterly cash dividend of $ 0.15 per share , or $ 0.60 per share annually , on its common stock .', 'the first quarterly dividend of $ 0.15 per share was paid on january 15 , 2004 to shareholders of record as of december 15 , 2003 .', 'pca did not declare any dividends on its common stock in 2000 - 2002 .', '( 4 ) total long-term obligations include long-term debt , short-term debt and the current maturities of long-term debt .', 'item 7 .', 'management 2019s discussion and analysis of financial condition and results of operations the following discussion of historical results of operations and financial condition should be read in conjunction with the audited financial statements and the notes thereto which appear elsewhere in this report .', 'overview on april 12 , 1999 , pca acquired the containerboard and corrugated products business of pactiv corporation ( the 201cgroup 201d ) , formerly known as tenneco packaging inc. , a wholly owned subsidiary of tenneco , inc .', 'the group operated prior to april 12 , 1999 as a division of pactiv , and not as a separate , stand-alone entity .', 'from its formation in january 1999 and through the closing of the acquisition on april 12 , 1999 , pca did not have any significant operations .', 'the april 12 , 1999 acquisition was accounted for using historical values for the contributed assets .', 'purchase accounting was not applied because , under the applicable accounting guidance , a change of control was deemed not to have occurred as a result of the participating veto rights held by pactiv after the closing of the transactions under the terms of the stockholders agreement entered into in connection with the transactions .', 'results of operations year ended december 31 , 2004 compared to year ended december 31 , 2003 the historical results of operations of pca for the years ended december , 31 2004 and 2003 are set forth the below : for the year ended december 31 , ( in millions ) 2004 2003 change .']
--------
Data Table:
========================================
Row 1: ( in millions ), 2004, 2003, change
Row 2: net sales, $ 1890.1, $ 1735.5, $ 154.6
Row 3: income before interest and taxes, $ 140.5, $ 96.9, $ 43.6
Row 4: interest expense net, -29.6 ( 29.6 ), -121.8 ( 121.8 ), 92.2
Row 5: income ( loss ) before taxes, 110.9, -24.9 ( 24.9 ), 135.8
Row 6: ( provision ) benefit for income taxes, -42.2 ( 42.2 ), 10.5, -52.7 ( 52.7 )
Row 7: net income ( loss ), $ 68.7, $ -14.4 ( 14.4 ), $ 83.1
========================================
--------
Additional Information: ['.'] | 0.44995 | PKG/2004/page_21.pdf-2 | ['instruments at fair value and to recognize the effective and ineffective portions of the cash flow hedges .', '( 2 ) for the year ended december 31 , 2000 , earnings available to common stockholders includes reductions of $ 2371 of preferred stock dividends and $ 16266 for the redemption of pca 2019s 123 20448% ( 20448 % ) preferred stock .', '( 3 ) on october 13 , 2003 , pca announced its intention to begin paying a quarterly cash dividend of $ 0.15 per share , or $ 0.60 per share annually , on its common stock .', 'the first quarterly dividend of $ 0.15 per share was paid on january 15 , 2004 to shareholders of record as of december 15 , 2003 .', 'pca did not declare any dividends on its common stock in 2000 - 2002 .', '( 4 ) total long-term obligations include long-term debt , short-term debt and the current maturities of long-term debt .', 'item 7 .', 'management 2019s discussion and analysis of financial condition and results of operations the following discussion of historical results of operations and financial condition should be read in conjunction with the audited financial statements and the notes thereto which appear elsewhere in this report .', 'overview on april 12 , 1999 , pca acquired the containerboard and corrugated products business of pactiv corporation ( the 201cgroup 201d ) , formerly known as tenneco packaging inc. , a wholly owned subsidiary of tenneco , inc .', 'the group operated prior to april 12 , 1999 as a division of pactiv , and not as a separate , stand-alone entity .', 'from its formation in january 1999 and through the closing of the acquisition on april 12 , 1999 , pca did not have any significant operations .', 'the april 12 , 1999 acquisition was accounted for using historical values for the contributed assets .', 'purchase accounting was not applied because , under the applicable accounting guidance , a change of control was deemed not to have occurred as a result of the participating veto rights held by pactiv after the closing of the transactions under the terms of the stockholders agreement entered into in connection with the transactions .', 'results of operations year ended december 31 , 2004 compared to year ended december 31 , 2003 the historical results of operations of pca for the years ended december , 31 2004 and 2003 are set forth the below : for the year ended december 31 , ( in millions ) 2004 2003 change .'] | ['.'] | ========================================
Row 1: ( in millions ), 2004, 2003, change
Row 2: net sales, $ 1890.1, $ 1735.5, $ 154.6
Row 3: income before interest and taxes, $ 140.5, $ 96.9, $ 43.6
Row 4: interest expense net, -29.6 ( 29.6 ), -121.8 ( 121.8 ), 92.2
Row 5: income ( loss ) before taxes, 110.9, -24.9 ( 24.9 ), 135.8
Row 6: ( provision ) benefit for income taxes, -42.2 ( 42.2 ), 10.5, -52.7 ( 52.7 )
Row 7: net income ( loss ), $ 68.7, $ -14.4 ( 14.4 ), $ 83.1
======================================== | divide(43.6, 96.9) | 0.44995 |
what are the total net assets in 2008 , ( in millions ) ? | Background: ['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. .']
------
Table:
========================================
( in millions of u.s . dollars ), 2008, 2007
fair value of net assets denominated in foreign currencies, $ 1127, $ 1651
percentage of fair value of total net assets, 7.8% ( 7.8 % ), 9.9% ( 9.9 % )
pre-tax impact on equity of hypothetical 10 percent strengthening of the u.s . dollar, $ 84, $ 150
========================================
------
Additional Information: ['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. .'] | 14448.71795 | CB/2008/page_144.pdf-3 | ['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. .'] | ['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. .'] | ========================================
( in millions of u.s . dollars ), 2008, 2007
fair value of net assets denominated in foreign currencies, $ 1127, $ 1651
percentage of fair value of total net assets, 7.8% ( 7.8 % ), 9.9% ( 9.9 % )
pre-tax impact on equity of hypothetical 10 percent strengthening of the u.s . dollar, $ 84, $ 150
======================================== | divide(1127, 7.8%) | 14448.71795 |
what was the percentage of the change in the backlog at year-end \\n | Pre-text: ['backlog backlog increased in 2015 compared to 2014 primarily due to higher orders on f-35 and c-130 programs .', 'backlog decreased slightly in 2014 compared to 2013 primarily due to lower orders on f-16 and f-22 programs .', 'trends we expect aeronautics 2019 2016 net sales to increase in the mid-single digit percentage range as compared to 2015 due to increased volume on the f-35 and c-130 programs , partially offset by decreased volume on the f-16 program .', 'operating profit is also expected to increase in the low single-digit percentage range , driven by increased volume on the f-35 program offset by contract mix that results in a slight decrease in operating margins between years .', '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 2019 technical services business provides a comprehensive portfolio of technical and sustainment services .', '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 certain federal agencies 2019 information technology budgets and increased re-competition on existing contracts coupled with the fragmentation of large contracts into multiple smaller contracts that are awarded primarily on the basis of price .', 'is&gs 2019 operating results included the following ( in millions ) : .']
Table:
****************************************
, 2015, 2014, 2013
net sales, $ 5596, $ 5654, $ 6115
operating profit, 508, 472, 498
operating margins, 9.1% ( 9.1 % ), 8.3% ( 8.3 % ), 8.1% ( 8.1 % )
backlog at year-end, $ 4800, $ 6000, $ 6300
****************************************
Follow-up: ['2015 compared to 2014 is&gs 2019 net sales decreased $ 58 million , or 1% ( 1 % ) , in 2015 as compared to 2014 .', 'the decrease was attributable to lower net sales of approximately $ 395 million as a result of key program completions , lower customer funding levels and increased competition , coupled with the fragmentation of existing large contracts into multiple smaller contracts that are awarded primarily on the basis of price when re-competed ( including cms-citic ) .', 'these decreases were partially offset by higher net sales of approximately $ 230 million for businesses acquired in 2014 ; and approximately $ 110 million due to the start-up of new programs and growth in recently awarded programs .', 'is&gs 2019 operating profit increased $ 36 million , or 8% ( 8 % ) , in 2015 as compared to 2014 .', 'the increase was attributable to improved program performance and risk retirements , offset by decreased operating profit resulting from the activities mentioned above for net sales .', 'adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 70 million higher in 2015 compared to 2014 .', '2014 compared to 2013 is&gs 2019 net sales decreased $ 461 million , or 8% ( 8 % ) , in 2014 as compared to 2013 .', 'the decrease was primarily attributable to lower net sales of about $ 475 million due to the wind-down or completion of certain programs , driven by reductions in direct warfighter support ( including jieddo ) ; and approximately $ 320 million due to decreased volume in technical services programs reflecting market pressures .', 'the decreases were offset by higher net sales of about $ 330 million due to the start-up of new programs , growth in recently awarded programs and integration of recently acquired companies .', 'is&gs 2019 operating profit decreased $ 26 million , or 5% ( 5 % ) , in 2014 as compared to 2013 .', 'the decrease was primarily attributable to the activities mentioned above for sales , partially offset by severance recoveries related to the restructuring announced in november 2013 of approximately $ 20 million in 2014 .', 'adjustments not related to volume , including net profit booking rate adjustments , were comparable in 2014 and 2013. .'] | -0.04762 | LMT/2015/page_53.pdf-1 | ['backlog backlog increased in 2015 compared to 2014 primarily due to higher orders on f-35 and c-130 programs .', 'backlog decreased slightly in 2014 compared to 2013 primarily due to lower orders on f-16 and f-22 programs .', 'trends we expect aeronautics 2019 2016 net sales to increase in the mid-single digit percentage range as compared to 2015 due to increased volume on the f-35 and c-130 programs , partially offset by decreased volume on the f-16 program .', 'operating profit is also expected to increase in the low single-digit percentage range , driven by increased volume on the f-35 program offset by contract mix that results in a slight decrease in operating margins between years .', '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 2019 technical services business provides a comprehensive portfolio of technical and sustainment services .', '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 certain federal agencies 2019 information technology budgets and increased re-competition on existing contracts coupled with the fragmentation of large contracts into multiple smaller contracts that are awarded primarily on the basis of price .', 'is&gs 2019 operating results included the following ( in millions ) : .'] | ['2015 compared to 2014 is&gs 2019 net sales decreased $ 58 million , or 1% ( 1 % ) , in 2015 as compared to 2014 .', 'the decrease was attributable to lower net sales of approximately $ 395 million as a result of key program completions , lower customer funding levels and increased competition , coupled with the fragmentation of existing large contracts into multiple smaller contracts that are awarded primarily on the basis of price when re-competed ( including cms-citic ) .', 'these decreases were partially offset by higher net sales of approximately $ 230 million for businesses acquired in 2014 ; and approximately $ 110 million due to the start-up of new programs and growth in recently awarded programs .', 'is&gs 2019 operating profit increased $ 36 million , or 8% ( 8 % ) , in 2015 as compared to 2014 .', 'the increase was attributable to improved program performance and risk retirements , offset by decreased operating profit resulting from the activities mentioned above for net sales .', 'adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 70 million higher in 2015 compared to 2014 .', '2014 compared to 2013 is&gs 2019 net sales decreased $ 461 million , or 8% ( 8 % ) , in 2014 as compared to 2013 .', 'the decrease was primarily attributable to lower net sales of about $ 475 million due to the wind-down or completion of certain programs , driven by reductions in direct warfighter support ( including jieddo ) ; and approximately $ 320 million due to decreased volume in technical services programs reflecting market pressures .', 'the decreases were offset by higher net sales of about $ 330 million due to the start-up of new programs , growth in recently awarded programs and integration of recently acquired companies .', 'is&gs 2019 operating profit decreased $ 26 million , or 5% ( 5 % ) , in 2014 as compared to 2013 .', 'the decrease was primarily attributable to the activities mentioned above for sales , partially offset by severance recoveries related to the restructuring announced in november 2013 of approximately $ 20 million in 2014 .', 'adjustments not related to volume , including net profit booking rate adjustments , were comparable in 2014 and 2013. .'] | ****************************************
, 2015, 2014, 2013
net sales, $ 5596, $ 5654, $ 6115
operating profit, 508, 472, 498
operating margins, 9.1% ( 9.1 % ), 8.3% ( 8.3 % ), 8.1% ( 8.1 % )
backlog at year-end, $ 4800, $ 6000, $ 6300
**************************************** | subtract(6000, 6300), divide(#0, 6300) | -0.04762 |
what is the net change in net revenue during 2003 for entergy louisiana , inc.? | Context: ['entergy louisiana , inc .', "management's financial discussion and analysis gross operating revenues , fuel and purchased power expenses , and other regulatory credits gross operating revenues increased primarily due to : 2022 an increase of $ 98.0 million in fuel cost recovery revenues due to higher fuel rates ; and 2022 an increase due to volume/weather , as discussed above .", 'the increase was partially offset by the following : 2022 a decrease of $ 31.9 million in the price applied to unbilled sales , as discussed above ; 2022 a decrease of $ 12.2 million in rate refund provisions , as discussed above ; and 2022 a decrease of $ 5.2 million in gross wholesale revenue due to decreased sales to affiliated systems .', 'fuel and purchased power expenses increased primarily due to : 2022 an increase in the recovery from customers of deferred fuel costs ; and 2022 an increase in the market price of natural gas .', "other regulatory credits increased primarily due to : 2022 the deferral in 2004 of $ 14.3 million of capacity charges related to generation resource planning as allowed by the lpsc ; 2022 the amortization in 2003 of $ 11.8 million of deferred capacity charges , as discussed above ; and 2022 the deferral in 2004 of $ 11.4 million related to entergy's voluntary severance program , in accordance with a proposed stipulation with the lpsc staff .", "2003 compared to 2002 net revenue , which is entergy louisiana's measure of gross margin , consists of operating revenues net of : 1 ) fuel , fuel-related , and purchased power expenses and 2 ) other regulatory charges ( credits ) .", 'following is an analysis of the change in net revenue comparing 2003 to 2002. .']
Table:
****************************************
( in millions )
2002 net revenue $ 922.9
deferred fuel cost revisions 59.1
asset retirement obligation 8.2
volume -16.2 ( 16.2 )
vidalia settlement -9.2 ( 9.2 )
other 8.9
2003 net revenue $ 973.7
****************************************
Follow-up: ['the deferred fuel cost revisions variance resulted from a revised unbilled sales pricing estimate made in december 2002 and a further revision made in the first quarter of 2003 to more closely align the fuel component of that pricing with expected recoverable fuel costs .', 'the asset retirement obligation variance was due to the implementation of sfas 143 , "accounting for asset retirement obligations" adopted in january 2003 .', 'see "critical accounting estimates" for more details on sfas 143 .', 'the increase was offset by decommissioning expense and had no effect on net income .', 'the volume variance was due to a decrease in electricity usage in the service territory .', 'billed usage decreased 1868 gwh in the industrial sector including the loss of a large industrial customer to cogeneration. .'] | 50.8 | ETR/2004/page_213.pdf-3 | ['entergy louisiana , inc .', "management's financial discussion and analysis gross operating revenues , fuel and purchased power expenses , and other regulatory credits gross operating revenues increased primarily due to : 2022 an increase of $ 98.0 million in fuel cost recovery revenues due to higher fuel rates ; and 2022 an increase due to volume/weather , as discussed above .", 'the increase was partially offset by the following : 2022 a decrease of $ 31.9 million in the price applied to unbilled sales , as discussed above ; 2022 a decrease of $ 12.2 million in rate refund provisions , as discussed above ; and 2022 a decrease of $ 5.2 million in gross wholesale revenue due to decreased sales to affiliated systems .', 'fuel and purchased power expenses increased primarily due to : 2022 an increase in the recovery from customers of deferred fuel costs ; and 2022 an increase in the market price of natural gas .', "other regulatory credits increased primarily due to : 2022 the deferral in 2004 of $ 14.3 million of capacity charges related to generation resource planning as allowed by the lpsc ; 2022 the amortization in 2003 of $ 11.8 million of deferred capacity charges , as discussed above ; and 2022 the deferral in 2004 of $ 11.4 million related to entergy's voluntary severance program , in accordance with a proposed stipulation with the lpsc staff .", "2003 compared to 2002 net revenue , which is entergy louisiana's measure of gross margin , consists of operating revenues net of : 1 ) fuel , fuel-related , and purchased power expenses and 2 ) other regulatory charges ( credits ) .", 'following is an analysis of the change in net revenue comparing 2003 to 2002. .'] | ['the deferred fuel cost revisions variance resulted from a revised unbilled sales pricing estimate made in december 2002 and a further revision made in the first quarter of 2003 to more closely align the fuel component of that pricing with expected recoverable fuel costs .', 'the asset retirement obligation variance was due to the implementation of sfas 143 , "accounting for asset retirement obligations" adopted in january 2003 .', 'see "critical accounting estimates" for more details on sfas 143 .', 'the increase was offset by decommissioning expense and had no effect on net income .', 'the volume variance was due to a decrease in electricity usage in the service territory .', 'billed usage decreased 1868 gwh in the industrial sector including the loss of a large industrial customer to cogeneration. .'] | ****************************************
( in millions )
2002 net revenue $ 922.9
deferred fuel cost revisions 59.1
asset retirement obligation 8.2
volume -16.2 ( 16.2 )
vidalia settlement -9.2 ( 9.2 )
other 8.9
2003 net revenue $ 973.7
**************************************** | subtract(973.7, 922.9) | 50.8 |
what is the net change in net revenue during 2007 for entergy arkansas , inc.? | Background: ['entergy arkansas , inc .', "management's financial discussion and analysis gross operating revenues and fuel and purchased power expenses gross operating revenues increased primarily due to : an increase of $ 114 million in gross wholesale revenue due to an increase in the average price of energy available for resale sales and an increase in sales to affiliated customers ; an increase of $ 106.1 million in production cost allocation rider revenues which became effective in july 2007 as a result of the system agreement proceedings .", 'as a result of the system agreement proceedings , entergy arkansas also has a corresponding increase in deferred fuel expense for payments to other entergy system companies such that there is no effect on net income .', 'entergy arkansas makes payments over a seven-month period but collections from customers occur over a twelve-month period .', 'the production cost allocation rider is discussed in note 2 to the financial statements and the system agreement proceedings are referenced below under "federal regulation" ; and an increase of $ 58.9 million in fuel cost recovery revenues due to changes in the energy cost recovery rider effective april 2008 and september 2008 , partially offset by decreased usage .', 'the energy cost recovery rider filings are discussed in note 2 to the financial statements .', 'the increase was partially offset by a decrease of $ 14.6 million related to volume/weather , as discussed above .', 'fuel and purchased power expenses increased primarily due to an increase of $ 106.1 million in deferred system agreement payments , as discussed above and an increase in the average market price of purchased power .', '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 credits .', 'following is an analysis of the change in net revenue comparing 2007 to 2006 .', 'amount ( in millions ) .']
########
Tabular Data:
========================================
, amount ( in millions )
2006 net revenue, $ 1074.5
net wholesale revenue, 13.2
transmission revenue, 11.8
deferred fuel costs revisions, 8.6
other, 2.5
2007 net revenue, $ 1110.6
========================================
########
Additional Information: ['the net wholesale revenue variance is primarily due to lower wholesale revenues in the third quarter 2006 due to an october 2006 ferc order requiring entergy arkansas to make a refund to a coal plant co-owner resulting from a contract dispute , in addition to re-pricing revisions , retroactive to 2003 , of $ 5.9 million of purchased power agreements among entergy system companies as directed by the ferc .', 'the transmission revenue variance is primarily due to higher rates and the addition of new transmission customers in late 2006 .', 'the deferred fuel cost revisions variance is primarily due to the 2006 energy cost recovery true-up , made in the first quarter 2007 , which increased net revenue by $ 6.6 million .', 'gross operating revenue and fuel and purchased power expenses gross operating revenues decreased primarily due to a decrease of $ 173.1 million in fuel cost recovery revenues due to a decrease in the energy cost recovery rider effective april 2007 .', 'the energy cost recovery rider is discussed in note 2 to the financial statements .', 'the decrease was partially offset by production cost allocation rider revenues of $ 124.1 million that became effective in july 2007 as a result of the system agreement proceedings .', 'as .'] | 36.1 | ETR/2008/page_267.pdf-4 | ['entergy arkansas , inc .', "management's financial discussion and analysis gross operating revenues and fuel and purchased power expenses gross operating revenues increased primarily due to : an increase of $ 114 million in gross wholesale revenue due to an increase in the average price of energy available for resale sales and an increase in sales to affiliated customers ; an increase of $ 106.1 million in production cost allocation rider revenues which became effective in july 2007 as a result of the system agreement proceedings .", 'as a result of the system agreement proceedings , entergy arkansas also has a corresponding increase in deferred fuel expense for payments to other entergy system companies such that there is no effect on net income .', 'entergy arkansas makes payments over a seven-month period but collections from customers occur over a twelve-month period .', 'the production cost allocation rider is discussed in note 2 to the financial statements and the system agreement proceedings are referenced below under "federal regulation" ; and an increase of $ 58.9 million in fuel cost recovery revenues due to changes in the energy cost recovery rider effective april 2008 and september 2008 , partially offset by decreased usage .', 'the energy cost recovery rider filings are discussed in note 2 to the financial statements .', 'the increase was partially offset by a decrease of $ 14.6 million related to volume/weather , as discussed above .', 'fuel and purchased power expenses increased primarily due to an increase of $ 106.1 million in deferred system agreement payments , as discussed above and an increase in the average market price of purchased power .', '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 credits .', 'following is an analysis of the change in net revenue comparing 2007 to 2006 .', 'amount ( in millions ) .'] | ['the net wholesale revenue variance is primarily due to lower wholesale revenues in the third quarter 2006 due to an october 2006 ferc order requiring entergy arkansas to make a refund to a coal plant co-owner resulting from a contract dispute , in addition to re-pricing revisions , retroactive to 2003 , of $ 5.9 million of purchased power agreements among entergy system companies as directed by the ferc .', 'the transmission revenue variance is primarily due to higher rates and the addition of new transmission customers in late 2006 .', 'the deferred fuel cost revisions variance is primarily due to the 2006 energy cost recovery true-up , made in the first quarter 2007 , which increased net revenue by $ 6.6 million .', 'gross operating revenue and fuel and purchased power expenses gross operating revenues decreased primarily due to a decrease of $ 173.1 million in fuel cost recovery revenues due to a decrease in the energy cost recovery rider effective april 2007 .', 'the energy cost recovery rider is discussed in note 2 to the financial statements .', 'the decrease was partially offset by production cost allocation rider revenues of $ 124.1 million that became effective in july 2007 as a result of the system agreement proceedings .', 'as .'] | ========================================
, amount ( in millions )
2006 net revenue, $ 1074.5
net wholesale revenue, 13.2
transmission revenue, 11.8
deferred fuel costs revisions, 8.6
other, 2.5
2007 net revenue, $ 1110.6
======================================== | subtract(1110.6, 1074.5) | 36.1 |
did abiomed outperform the nasdaq composite index over the five year period? | Background: ['performance graph the following graph compares the yearly change in the cumulative total stockholder return for our last five full fiscal years , based upon the market price of our common stock , with the cumulative total return on a nasdaq composite index ( u.s .', 'companies ) and a peer group , the nasdaq medical equipment-sic code 3840-3849 index , which is comprised of medical equipment companies , for that period .', 'the performance graph assumes the investment of $ 100 on march 31 , 2010 in our common stock , the nasdaq composite index ( u.s .', 'companies ) and the peer group index , and the reinvestment of any and all dividends. .']
Tabular Data:
========================================
• , 3/31/2010, 3/31/2011, 3/31/2012, 3/31/2013, 3/31/2014, 3/31/2015
• abiomed inc, 100, 140.79, 215.02, 180.91, 252.33, 693.60
• nasdaq composite index, 100, 115.98, 128.93, 136.26, 175.11, 204.38
• nasdaq medical equipment sic code 3840-3849, 100, 108.31, 115.05, 105.56, 123.18, 118.95
========================================
Additional Information: ['this graph is not 201csoliciting material 201d under regulation 14a or 14c of the rules promulgated under the securities exchange act of 1934 , is not deemed filed with the securities and exchange commission and is not to be incorporated by reference in any of our filings under the securities act of 1933 , as amended , or the exchange act whether made before or after the date hereof and irrespective of any general incorporation language in any such filing .', 'transfer agent american stock transfer & trust company , 59 maiden lane , new york , ny 10038 , is our stock transfer agent. .'] | yes | ABMD/2015/page_53.pdf-1 | ['performance graph the following graph compares the yearly change in the cumulative total stockholder return for our last five full fiscal years , based upon the market price of our common stock , with the cumulative total return on a nasdaq composite index ( u.s .', 'companies ) and a peer group , the nasdaq medical equipment-sic code 3840-3849 index , which is comprised of medical equipment companies , for that period .', 'the performance graph assumes the investment of $ 100 on march 31 , 2010 in our common stock , the nasdaq composite index ( u.s .', 'companies ) and the peer group index , and the reinvestment of any and all dividends. .'] | ['this graph is not 201csoliciting material 201d under regulation 14a or 14c of the rules promulgated under the securities exchange act of 1934 , is not deemed filed with the securities and exchange commission and is not to be incorporated by reference in any of our filings under the securities act of 1933 , as amended , or the exchange act whether made before or after the date hereof and irrespective of any general incorporation language in any such filing .', 'transfer agent american stock transfer & trust company , 59 maiden lane , new york , ny 10038 , is our stock transfer agent. .'] | ========================================
• , 3/31/2010, 3/31/2011, 3/31/2012, 3/31/2013, 3/31/2014, 3/31/2015
• abiomed inc, 100, 140.79, 215.02, 180.91, 252.33, 693.60
• nasdaq composite index, 100, 115.98, 128.93, 136.26, 175.11, 204.38
• nasdaq medical equipment sic code 3840-3849, 100, 108.31, 115.05, 105.56, 123.18, 118.95
======================================== | greater(693.60, 204.38) | yes |
what was the average net sales for north american consumer packaging from 2012 | Background: ['russia and europe .', 'average sales price realizations for uncoated freesheet paper decreased in both europe and russia , reflecting weak economic conditions and soft market demand .', 'in russia , sales prices in rubles increased , but this improvement is masked by the impact of the currency depreciation against the u.s .', 'dollar .', 'input costs were significantly higher for wood in both europe and russia , partially offset by lower chemical costs .', 'planned maintenance downtime costs were $ 11 million lower in 2014 than in 2013 .', 'manufacturing and other operating costs were favorable .', 'entering 2015 , sales volumes in the first quarter are expected to be seasonally weaker in russia , and about flat in europe .', 'average sales price realizations for uncoated freesheet paper are expected to remain steady in europe , but increase in russia .', 'input costs should be lower for oil and wood , partially offset by higher chemicals costs .', 'indian papers net sales were $ 178 million in 2014 , $ 185 million ( $ 174 million excluding excise duties which were included in net sales in 2013 and prior periods ) in 2013 and $ 185 million ( $ 178 million excluding excise duties ) in 2012 .', 'operating profits were $ 8 million ( a loss of $ 12 million excluding a gain related to the resolution of a legal contingency ) in 2014 , a loss of $ 145 million ( a loss of $ 22 million excluding goodwill and trade name impairment charges ) in 2013 and a loss of $ 16 million in 2012 .', 'average sales price realizations improved in 2014 compared with 2013 due to the impact of price increases implemented in 2013 .', 'sales volumes were flat , reflecting weak economic conditions .', 'input costs were higher , primarily for wood .', 'operating costs and planned maintenance downtime costs were lower in 2014 .', 'looking ahead to the first quarter of 2015 , sales volumes are expected to be seasonally higher .', 'average sales price realizations are expected to decrease due to competitive pressures .', 'asian printing papers net sales were $ 59 million in 2014 , $ 90 million in 2013 and $ 85 million in 2012 .', 'operating profits were $ 0 million in 2014 and $ 1 million in both 2013 and 2012 .', 'u.s .', 'pulp net sales were $ 895 million in 2014 compared with $ 815 million in 2013 and $ 725 million in 2012 .', 'operating profits were $ 57 million in 2014 compared with $ 2 million in 2013 and a loss of $ 59 million in 2012 .', 'sales volumes in 2014 increased from 2013 for both fluff pulp and market pulp reflecting improved market demand .', 'average sales price realizations increased significantly for fluff pulp , while prices for market pulp were also higher .', 'input costs for wood and energy were higher .', 'operating costs were lower , but planned maintenance downtime costs were $ 1 million higher .', 'compared with the fourth quarter of 2014 , sales volumes in the first quarter of 2015 , are expected to decrease for market pulp , but be slightly higher for fluff pulp .', 'average sales price realizations are expected to to be stable for fluff pulp and softwood market pulp , while hardwood market pulp prices are expected to improve .', 'input costs should be flat .', 'planned maintenance downtime costs should be about $ 13 million higher than in the fourth quarter of 2014 .', 'consumer packaging demand and pricing for consumer packaging products correlate closely with consumer spending and general economic activity .', 'in addition to prices and volumes , major factors affecting the profitability of consumer packaging are raw material and energy costs , freight costs , manufacturing efficiency and product mix .', 'consumer packaging net sales in 2014 decreased 1% ( 1 % ) from 2013 , but increased 7% ( 7 % ) from 2012 .', 'operating profits increased 11% ( 11 % ) from 2013 , but decreased 34% ( 34 % ) from 2012 .', 'excluding sheet plant closure costs , costs associated with the permanent shutdown of a paper machine at our augusta , georgia mill and costs related to the sale of the shorewood business , 2014 operating profits were 11% ( 11 % ) lower than in 2013 , and 30% ( 30 % ) lower than in 2012 .', 'benefits from higher average sales price realizations and a favorable mix ( $ 60 million ) were offset by lower sales volumes ( $ 11 million ) , higher operating costs ( $ 9 million ) , higher planned maintenance downtime costs ( $ 12 million ) , higher input costs ( $ 43 million ) and higher other costs ( $ 7 million ) .', 'in addition , operating profits in 2014 include $ 8 million of costs associated with sheet plant closures , while operating profits in 2013 include costs of $ 45 million related to the permanent shutdown of a paper machine at our augusta , georgia mill and $ 2 million of costs associated with the sale of the shorewood business .', 'consumer packaging .']
Tabular Data:
========================================
in millions 2014 2013 2012
sales $ 3403 $ 3435 $ 3170
operating profit 178 161 268
========================================
Follow-up: ['north american consumer packaging net sales were $ 2.0 billion in 2014 compared with $ 2.0 billion in 2013 and $ 2.0 billion in 2012 .', 'operating profits were $ 92 million ( $ 100 million excluding sheet plant closure costs ) in 2014 compared with $ 63 million ( $ 110 million excluding paper machine shutdown costs and costs related to the sale of the shorewood business ) in 2013 and $ 165 million ( $ 162 million excluding a gain associated with the sale of the shorewood business in 2012 ) .', 'coated paperboard sales volumes in 2014 were lower than in 2013 reflecting weaker market demand .', 'the business took about 41000 tons of market-related downtime in 2014 compared with about 24000 tons in 2013 .', 'average sales price realizations increased year- .'] | 4.5 | IP/2014/page_66.pdf-4 | ['russia and europe .', 'average sales price realizations for uncoated freesheet paper decreased in both europe and russia , reflecting weak economic conditions and soft market demand .', 'in russia , sales prices in rubles increased , but this improvement is masked by the impact of the currency depreciation against the u.s .', 'dollar .', 'input costs were significantly higher for wood in both europe and russia , partially offset by lower chemical costs .', 'planned maintenance downtime costs were $ 11 million lower in 2014 than in 2013 .', 'manufacturing and other operating costs were favorable .', 'entering 2015 , sales volumes in the first quarter are expected to be seasonally weaker in russia , and about flat in europe .', 'average sales price realizations for uncoated freesheet paper are expected to remain steady in europe , but increase in russia .', 'input costs should be lower for oil and wood , partially offset by higher chemicals costs .', 'indian papers net sales were $ 178 million in 2014 , $ 185 million ( $ 174 million excluding excise duties which were included in net sales in 2013 and prior periods ) in 2013 and $ 185 million ( $ 178 million excluding excise duties ) in 2012 .', 'operating profits were $ 8 million ( a loss of $ 12 million excluding a gain related to the resolution of a legal contingency ) in 2014 , a loss of $ 145 million ( a loss of $ 22 million excluding goodwill and trade name impairment charges ) in 2013 and a loss of $ 16 million in 2012 .', 'average sales price realizations improved in 2014 compared with 2013 due to the impact of price increases implemented in 2013 .', 'sales volumes were flat , reflecting weak economic conditions .', 'input costs were higher , primarily for wood .', 'operating costs and planned maintenance downtime costs were lower in 2014 .', 'looking ahead to the first quarter of 2015 , sales volumes are expected to be seasonally higher .', 'average sales price realizations are expected to decrease due to competitive pressures .', 'asian printing papers net sales were $ 59 million in 2014 , $ 90 million in 2013 and $ 85 million in 2012 .', 'operating profits were $ 0 million in 2014 and $ 1 million in both 2013 and 2012 .', 'u.s .', 'pulp net sales were $ 895 million in 2014 compared with $ 815 million in 2013 and $ 725 million in 2012 .', 'operating profits were $ 57 million in 2014 compared with $ 2 million in 2013 and a loss of $ 59 million in 2012 .', 'sales volumes in 2014 increased from 2013 for both fluff pulp and market pulp reflecting improved market demand .', 'average sales price realizations increased significantly for fluff pulp , while prices for market pulp were also higher .', 'input costs for wood and energy were higher .', 'operating costs were lower , but planned maintenance downtime costs were $ 1 million higher .', 'compared with the fourth quarter of 2014 , sales volumes in the first quarter of 2015 , are expected to decrease for market pulp , but be slightly higher for fluff pulp .', 'average sales price realizations are expected to to be stable for fluff pulp and softwood market pulp , while hardwood market pulp prices are expected to improve .', 'input costs should be flat .', 'planned maintenance downtime costs should be about $ 13 million higher than in the fourth quarter of 2014 .', 'consumer packaging demand and pricing for consumer packaging products correlate closely with consumer spending and general economic activity .', 'in addition to prices and volumes , major factors affecting the profitability of consumer packaging are raw material and energy costs , freight costs , manufacturing efficiency and product mix .', 'consumer packaging net sales in 2014 decreased 1% ( 1 % ) from 2013 , but increased 7% ( 7 % ) from 2012 .', 'operating profits increased 11% ( 11 % ) from 2013 , but decreased 34% ( 34 % ) from 2012 .', 'excluding sheet plant closure costs , costs associated with the permanent shutdown of a paper machine at our augusta , georgia mill and costs related to the sale of the shorewood business , 2014 operating profits were 11% ( 11 % ) lower than in 2013 , and 30% ( 30 % ) lower than in 2012 .', 'benefits from higher average sales price realizations and a favorable mix ( $ 60 million ) were offset by lower sales volumes ( $ 11 million ) , higher operating costs ( $ 9 million ) , higher planned maintenance downtime costs ( $ 12 million ) , higher input costs ( $ 43 million ) and higher other costs ( $ 7 million ) .', 'in addition , operating profits in 2014 include $ 8 million of costs associated with sheet plant closures , while operating profits in 2013 include costs of $ 45 million related to the permanent shutdown of a paper machine at our augusta , georgia mill and $ 2 million of costs associated with the sale of the shorewood business .', 'consumer packaging .'] | ['north american consumer packaging net sales were $ 2.0 billion in 2014 compared with $ 2.0 billion in 2013 and $ 2.0 billion in 2012 .', 'operating profits were $ 92 million ( $ 100 million excluding sheet plant closure costs ) in 2014 compared with $ 63 million ( $ 110 million excluding paper machine shutdown costs and costs related to the sale of the shorewood business ) in 2013 and $ 165 million ( $ 162 million excluding a gain associated with the sale of the shorewood business in 2012 ) .', 'coated paperboard sales volumes in 2014 were lower than in 2013 reflecting weaker market demand .', 'the business took about 41000 tons of market-related downtime in 2014 compared with about 24000 tons in 2013 .', 'average sales price realizations increased year- .'] | ========================================
in millions 2014 2013 2012
sales $ 3403 $ 3435 $ 3170
operating profit 178 161 268
======================================== | add(2.0, 2.0), add(#0, 2.0), add(#1, const_3), divide(#2, const_2) | 4.5 |
what was the percent change in capital gain distributions between 2008 and 2009? | Context: ['investment advisory revenues earned on the other investment portfolios that we manage decreased $ 44 million , or 8.5% ( 8.5 % ) , to $ 477.8 million in 2009 .', 'average assets in these portfolios were $ 129.5 billion during 2009 , down $ 12.6 billion or 9% ( 9 % ) from 2008 .', 'other investment portfolio assets under management increased $ 46.7 billion during 2009 , including $ 36.5 billion in market gains and income and $ 10.2 billion of net inflows , primarily from institutional investors .', 'net inflows include $ 1.3 billion transferred from the stock and blended asset mutual funds during 2009 .', 'administrative fees decreased $ 35 million , or 10% ( 10 % ) , to $ 319 million in 2009 .', 'this change includes a $ 4 million decrease in 12b-1 distribution and service fees recognized on lower average assets under management in the advisor and r classes of our sponsored mutual funds and a $ 31 million reduction in our mutual fund servicing revenue , which is primarily attributable to our cost reduction efforts in the mutual fund and retirement plan servicing functions .', 'changes in administrative fees are generally offset by similar changes in related operating expenses that are incurred to provide services to the funds and their investors .', 'our largest expense , compensation and related costs , decreased $ 42 million , or 5% ( 5 % ) , from 2008 to $ 773 million in 2009 .', 'the largest part of this decrease is attributable to a $ 19 million reduction in our annual bonus program .', 'reductions in the use of outside contractors lowered 2009 costs $ 14 million with the remainder of the cost savings primarily attributable to the workforce reduction and lower employee benefits and other employment expenses .', 'average headcount in 2009 was down 5.4% ( 5.4 % ) from 2008 due to attrition , retirements and our workforce reduction in april 2009 .', 'advertising and promotion expenditures were down $ 31 million , or 30% ( 30 % ) , versus 2008 due to our decision to reduce spending in response to lower investor activity in the 2009 market environment .', 'depreciation expense and other occupancy and facility costs together increased $ 4 million , or 2.5% ( 2.5 % ) compared to 2008 , as we moderated or delayed our capital spending and facility growth plans .', 'other operating expenses decreased $ 33 million , or 18% ( 18 % ) from 2008 , including a decline of $ 4 million in distribution and service expenses recognized on lower average assets under management in our advisor and r classes of mutual fund shares that are sourced from financial intermediaries .', 'our cost control efforts resulted in the remaining expense reductions , including lower professional fees and travel and related costs .', 'our non-operating investment activity resulted in net losses of $ 12.7 million in 2009 and $ 52.3 million in 2008 .', 'the improvement of nearly $ 40 million is primarily attributable to a reduction in the other than temporary impairments recognized on our investments in sponsored mutual funds in 2009 versus 2008 .', 'the following table details our related mutual fund investment gains and losses ( in millions ) during the two years ended december 31 , 2009. .']
Table:
****************************************
• , 2008, 2009, change
• other than temporary impairments recognized, $ -91.3 ( 91.3 ), $ -36.1 ( 36.1 ), $ 55.2
• capital gain distributions received, 5.6, 2.0, -3.6 ( 3.6 )
• net gain ( loss ) realized on fund dispositions, -4.5 ( 4.5 ), 7.4, 11.9
• net loss recognized on fund holdings, $ -90.2 ( 90.2 ), $ -26.7 ( 26.7 ), $ 63.5
****************************************
Follow-up: ['lower income of $ 16 million from our money market holdings due to the significantly lower interest rate environment offset the improvement experienced with our fund investments .', 'the 2009 provision for income taxes as a percentage of pretax income is 37.1% ( 37.1 % ) , down from 38.4% ( 38.4 % ) in 2008 .', 'our 2009 provision includes reductions of prior years 2019 tax provisions and discrete nonrecurring benefits that lowered our 2009 effective tax rate by 1.0% ( 1.0 % ) .', 'c a p i t a l r e s o u r c e s a n d l i q u i d i t y .', 'during 2010 , stockholders 2019 equity increased from $ 2.9 billion to $ 3.3 billion .', 'we repurchased nearly 5.0 million common shares for $ 240.0 million in 2010 .', 'tangible book value is $ 2.6 billion at december 31 , 2010 , and our cash and cash equivalents and our mutual fund investment holdings total more than $ 1.5 billion .', 'given the availability of these financial resources , we do not maintain an available external source of liquidity .', 't .', 'rowe price group annual report 2010 .'] | -0.48214 | TROW/2010/page_22.pdf-1 | ['investment advisory revenues earned on the other investment portfolios that we manage decreased $ 44 million , or 8.5% ( 8.5 % ) , to $ 477.8 million in 2009 .', 'average assets in these portfolios were $ 129.5 billion during 2009 , down $ 12.6 billion or 9% ( 9 % ) from 2008 .', 'other investment portfolio assets under management increased $ 46.7 billion during 2009 , including $ 36.5 billion in market gains and income and $ 10.2 billion of net inflows , primarily from institutional investors .', 'net inflows include $ 1.3 billion transferred from the stock and blended asset mutual funds during 2009 .', 'administrative fees decreased $ 35 million , or 10% ( 10 % ) , to $ 319 million in 2009 .', 'this change includes a $ 4 million decrease in 12b-1 distribution and service fees recognized on lower average assets under management in the advisor and r classes of our sponsored mutual funds and a $ 31 million reduction in our mutual fund servicing revenue , which is primarily attributable to our cost reduction efforts in the mutual fund and retirement plan servicing functions .', 'changes in administrative fees are generally offset by similar changes in related operating expenses that are incurred to provide services to the funds and their investors .', 'our largest expense , compensation and related costs , decreased $ 42 million , or 5% ( 5 % ) , from 2008 to $ 773 million in 2009 .', 'the largest part of this decrease is attributable to a $ 19 million reduction in our annual bonus program .', 'reductions in the use of outside contractors lowered 2009 costs $ 14 million with the remainder of the cost savings primarily attributable to the workforce reduction and lower employee benefits and other employment expenses .', 'average headcount in 2009 was down 5.4% ( 5.4 % ) from 2008 due to attrition , retirements and our workforce reduction in april 2009 .', 'advertising and promotion expenditures were down $ 31 million , or 30% ( 30 % ) , versus 2008 due to our decision to reduce spending in response to lower investor activity in the 2009 market environment .', 'depreciation expense and other occupancy and facility costs together increased $ 4 million , or 2.5% ( 2.5 % ) compared to 2008 , as we moderated or delayed our capital spending and facility growth plans .', 'other operating expenses decreased $ 33 million , or 18% ( 18 % ) from 2008 , including a decline of $ 4 million in distribution and service expenses recognized on lower average assets under management in our advisor and r classes of mutual fund shares that are sourced from financial intermediaries .', 'our cost control efforts resulted in the remaining expense reductions , including lower professional fees and travel and related costs .', 'our non-operating investment activity resulted in net losses of $ 12.7 million in 2009 and $ 52.3 million in 2008 .', 'the improvement of nearly $ 40 million is primarily attributable to a reduction in the other than temporary impairments recognized on our investments in sponsored mutual funds in 2009 versus 2008 .', 'the following table details our related mutual fund investment gains and losses ( in millions ) during the two years ended december 31 , 2009. .'] | ['lower income of $ 16 million from our money market holdings due to the significantly lower interest rate environment offset the improvement experienced with our fund investments .', 'the 2009 provision for income taxes as a percentage of pretax income is 37.1% ( 37.1 % ) , down from 38.4% ( 38.4 % ) in 2008 .', 'our 2009 provision includes reductions of prior years 2019 tax provisions and discrete nonrecurring benefits that lowered our 2009 effective tax rate by 1.0% ( 1.0 % ) .', 'c a p i t a l r e s o u r c e s a n d l i q u i d i t y .', 'during 2010 , stockholders 2019 equity increased from $ 2.9 billion to $ 3.3 billion .', 'we repurchased nearly 5.0 million common shares for $ 240.0 million in 2010 .', 'tangible book value is $ 2.6 billion at december 31 , 2010 , and our cash and cash equivalents and our mutual fund investment holdings total more than $ 1.5 billion .', 'given the availability of these financial resources , we do not maintain an available external source of liquidity .', 't .', 'rowe price group annual report 2010 .'] | ****************************************
• , 2008, 2009, change
• other than temporary impairments recognized, $ -91.3 ( 91.3 ), $ -36.1 ( 36.1 ), $ 55.2
• capital gain distributions received, 5.6, 2.0, -3.6 ( 3.6 )
• net gain ( loss ) realized on fund dispositions, -4.5 ( 4.5 ), 7.4, 11.9
• net loss recognized on fund holdings, $ -90.2 ( 90.2 ), $ -26.7 ( 26.7 ), $ 63.5
**************************************** | subtract(2.9, 5.6), divide(#0, 5.6) | -0.48214 |
what was the change in the reinsurance receivables and premium receivables from 2014 to 2013 in thousands | Background: ['b .', 'investments .', 'fixed maturity and equity security investments available for sale , at market value , reflect unrealized appreciation and depreciation , as a result of temporary changes in market value during the period , in shareholders 2019 equity , net of income taxes in 201caccumulated other comprehensive income ( loss ) 201d in the consolidated balance sheets .', 'fixed maturity and equity securities carried at fair value reflect fair value re- measurements as net realized capital gains and losses in the consolidated statements of operations and comprehensive income ( loss ) .', 'the company records changes in fair value for its fixed maturities available for sale , at market value through shareholders 2019 equity , net of taxes in accumulated other comprehensive income ( loss ) since cash flows from these investments will be primarily used to settle its reserve for losses and loss adjustment expense liabilities .', 'the company anticipates holding these investments for an extended period as the cash flow from interest and maturities will fund the projected payout of these liabilities .', 'fixed maturities carried at fair value represent a portfolio of convertible bond securities , which have characteristics similar to equity securities and at times , designated foreign denominated fixed maturity securities , which will be used to settle loss and loss adjustment reserves in the same currency .', 'the company carries all of its equity securities at fair value except for mutual fund investments whose underlying investments are comprised of fixed maturity securities .', 'for equity securities , available for sale , at fair value , the company reflects changes in value as net realized capital gains and losses since these securities may be sold in the near term depending on financial market conditions .', 'interest income on all fixed maturities and dividend income on all equity securities are included as part of net investment income in the consolidated statements of operations and comprehensive income ( loss ) .', 'unrealized losses on fixed maturities , which are deemed other-than-temporary and related to the credit quality of a security , are charged to net income ( loss ) as net realized capital losses .', 'short-term investments are stated at cost , which approximates market value .', 'realized gains or losses on sales of investments are determined on the basis of identified cost .', 'for non- publicly traded securities , market prices are determined through the use of pricing models that evaluate securities relative to the u.s .', 'treasury yield curve , taking into account the issue type , credit quality , and cash flow characteristics of each security .', 'for publicly traded securities , market value is based on quoted market prices or valuation models that use observable market inputs .', 'when a sector of the financial markets is inactive or illiquid , the company may use its own assumptions about future cash flows and risk-adjusted discount rates to determine fair value .', 'retrospective adjustments are employed to recalculate the values of asset-backed securities .', 'each acquisition lot is reviewed to recalculate the effective yield .', 'the recalculated effective yield is used to derive a book value as if the new yield were applied at the time of acquisition .', 'outstanding principal factors from the time of acquisition to the adjustment date are used to calculate the prepayment history for all applicable securities .', 'conditional prepayment rates , computed with life to date factor histories and weighted average maturities , are used to effect the calculation of projected and prepayments for pass-through security types .', 'other invested assets include limited partnerships and rabbi trusts .', 'limited partnerships are accounted for under the equity method of accounting , which can be recorded on a monthly or quarterly lag .', 'c .', 'uncollectible receivable balances .', 'the company provides reserves for uncollectible reinsurance recoverable and premium receivable balances based on management 2019s assessment of the collectability of the outstanding balances .', 'such reserves are presented in the table below for the periods indicated. .']
Tabular Data:
Row 1: ( dollars in thousands ), years ended december 31 , 2014, years ended december 31 , 2013
Row 2: reinsurance receivables and premium receivables, $ 29497, $ 29905
Follow-up: ['.'] | -408.0 | RE/2014/page_106.pdf-1 | ['b .', 'investments .', 'fixed maturity and equity security investments available for sale , at market value , reflect unrealized appreciation and depreciation , as a result of temporary changes in market value during the period , in shareholders 2019 equity , net of income taxes in 201caccumulated other comprehensive income ( loss ) 201d in the consolidated balance sheets .', 'fixed maturity and equity securities carried at fair value reflect fair value re- measurements as net realized capital gains and losses in the consolidated statements of operations and comprehensive income ( loss ) .', 'the company records changes in fair value for its fixed maturities available for sale , at market value through shareholders 2019 equity , net of taxes in accumulated other comprehensive income ( loss ) since cash flows from these investments will be primarily used to settle its reserve for losses and loss adjustment expense liabilities .', 'the company anticipates holding these investments for an extended period as the cash flow from interest and maturities will fund the projected payout of these liabilities .', 'fixed maturities carried at fair value represent a portfolio of convertible bond securities , which have characteristics similar to equity securities and at times , designated foreign denominated fixed maturity securities , which will be used to settle loss and loss adjustment reserves in the same currency .', 'the company carries all of its equity securities at fair value except for mutual fund investments whose underlying investments are comprised of fixed maturity securities .', 'for equity securities , available for sale , at fair value , the company reflects changes in value as net realized capital gains and losses since these securities may be sold in the near term depending on financial market conditions .', 'interest income on all fixed maturities and dividend income on all equity securities are included as part of net investment income in the consolidated statements of operations and comprehensive income ( loss ) .', 'unrealized losses on fixed maturities , which are deemed other-than-temporary and related to the credit quality of a security , are charged to net income ( loss ) as net realized capital losses .', 'short-term investments are stated at cost , which approximates market value .', 'realized gains or losses on sales of investments are determined on the basis of identified cost .', 'for non- publicly traded securities , market prices are determined through the use of pricing models that evaluate securities relative to the u.s .', 'treasury yield curve , taking into account the issue type , credit quality , and cash flow characteristics of each security .', 'for publicly traded securities , market value is based on quoted market prices or valuation models that use observable market inputs .', 'when a sector of the financial markets is inactive or illiquid , the company may use its own assumptions about future cash flows and risk-adjusted discount rates to determine fair value .', 'retrospective adjustments are employed to recalculate the values of asset-backed securities .', 'each acquisition lot is reviewed to recalculate the effective yield .', 'the recalculated effective yield is used to derive a book value as if the new yield were applied at the time of acquisition .', 'outstanding principal factors from the time of acquisition to the adjustment date are used to calculate the prepayment history for all applicable securities .', 'conditional prepayment rates , computed with life to date factor histories and weighted average maturities , are used to effect the calculation of projected and prepayments for pass-through security types .', 'other invested assets include limited partnerships and rabbi trusts .', 'limited partnerships are accounted for under the equity method of accounting , which can be recorded on a monthly or quarterly lag .', 'c .', 'uncollectible receivable balances .', 'the company provides reserves for uncollectible reinsurance recoverable and premium receivable balances based on management 2019s assessment of the collectability of the outstanding balances .', 'such reserves are presented in the table below for the periods indicated. .'] | ['.'] | Row 1: ( dollars in thousands ), years ended december 31 , 2014, years ended december 31 , 2013
Row 2: reinsurance receivables and premium receivables, $ 29497, $ 29905 | subtract(29497, 29905) | -408.0 |
what would 2014 capital expenditures have been without the early buyout of the operating lease of the headquarters , in millions? | Context: ['we have adequate access to capital markets to meet any foreseeable cash requirements , and we have sufficient financial capacity to satisfy our current liabilities .', 'cash flows millions 2014 2013 2012 .']
----
Tabular Data:
----------------------------------------
cash flowsmillions | 2014 | 2013 | 2012
----------|----------|----------|----------
cash provided by operating activities | $ 7385 | $ 6823 | $ 6161
cash used in investing activities | -4249 ( 4249 ) | -3405 ( 3405 ) | -3633 ( 3633 )
cash used in financing activities | -2982 ( 2982 ) | -3049 ( 3049 ) | -2682 ( 2682 )
net change in cash and cashequivalents | $ 154 | $ 369 | $ -154 ( 154 )
----------------------------------------
----
Post-table: ['operating activities higher net income in 2014 increased cash provided by operating activities compared to 2013 , despite higher income tax payments .', '2014 income tax payments were higher than 2013 primarily due to higher income , but also because we paid taxes previously deferred by bonus depreciation ( discussed below ) .', 'higher net income in 2013 increased cash provided by operating activities compared to 2012 .', 'in addition , we made payments in 2012 for past wages as a result of national labor negotiations , which reduced cash provided by operating activities in 2012 .', 'lower tax benefits from bonus depreciation ( as discussed below ) partially offset the increases .', 'federal tax law provided for 100% ( 100 % ) bonus depreciation for qualified investments made during 2011 and 50% ( 50 % ) bonus depreciation for qualified investments made during 2012-2013 .', 'as a result , the company deferred a substantial portion of its 2011-2013 income tax expense , contributing to the positive operating cash flow in those years .', 'congress extended 50% ( 50 % ) bonus depreciation for 2014 , but this extension occurred in december and did not have a significant benefit on our income tax payments during 2014 .', 'investing activities higher capital investments , including the early buyout of the long-term operating lease of our headquarters building for approximately $ 261 million , drove the increase in cash used in investing activities compared to 2013 .', 'significant investments also were made for new locomotives , freight cars and containers , and capacity and commercial facility projects .', 'capital investments in 2014 also included $ 99 million for the early buyout of locomotives and freight cars under long-term operating leases , which we exercised due to favorable economic terms and market conditions .', 'lower capital investments in locomotives and freight cars in 2013 drove the decrease in cash used in investing activities compared to 2012 .', 'included in capital investments in 2012 was $ 75 million for the early buyout of 165 locomotives under long-term operating and capital leases during the first quarter of 2012 , which we exercised due to favorable economic terms and market conditions. .'] | 4510.0 | UNP/2014/page_35.pdf-1 | ['we have adequate access to capital markets to meet any foreseeable cash requirements , and we have sufficient financial capacity to satisfy our current liabilities .', 'cash flows millions 2014 2013 2012 .'] | ['operating activities higher net income in 2014 increased cash provided by operating activities compared to 2013 , despite higher income tax payments .', '2014 income tax payments were higher than 2013 primarily due to higher income , but also because we paid taxes previously deferred by bonus depreciation ( discussed below ) .', 'higher net income in 2013 increased cash provided by operating activities compared to 2012 .', 'in addition , we made payments in 2012 for past wages as a result of national labor negotiations , which reduced cash provided by operating activities in 2012 .', 'lower tax benefits from bonus depreciation ( as discussed below ) partially offset the increases .', 'federal tax law provided for 100% ( 100 % ) bonus depreciation for qualified investments made during 2011 and 50% ( 50 % ) bonus depreciation for qualified investments made during 2012-2013 .', 'as a result , the company deferred a substantial portion of its 2011-2013 income tax expense , contributing to the positive operating cash flow in those years .', 'congress extended 50% ( 50 % ) bonus depreciation for 2014 , but this extension occurred in december and did not have a significant benefit on our income tax payments during 2014 .', 'investing activities higher capital investments , including the early buyout of the long-term operating lease of our headquarters building for approximately $ 261 million , drove the increase in cash used in investing activities compared to 2013 .', 'significant investments also were made for new locomotives , freight cars and containers , and capacity and commercial facility projects .', 'capital investments in 2014 also included $ 99 million for the early buyout of locomotives and freight cars under long-term operating leases , which we exercised due to favorable economic terms and market conditions .', 'lower capital investments in locomotives and freight cars in 2013 drove the decrease in cash used in investing activities compared to 2012 .', 'included in capital investments in 2012 was $ 75 million for the early buyout of 165 locomotives under long-term operating and capital leases during the first quarter of 2012 , which we exercised due to favorable economic terms and market conditions. .'] | ----------------------------------------
cash flowsmillions | 2014 | 2013 | 2012
----------|----------|----------|----------
cash provided by operating activities | $ 7385 | $ 6823 | $ 6161
cash used in investing activities | -4249 ( 4249 ) | -3405 ( 3405 ) | -3633 ( 3633 )
cash used in financing activities | -2982 ( 2982 ) | -3049 ( 3049 ) | -2682 ( 2682 )
net change in cash and cashequivalents | $ 154 | $ 369 | $ -154 ( 154 )
---------------------------------------- | add(4249, 261) | 4510.0 |
what is the roi of an investment in ups from 2010 to 2012? | Context: ['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. .']
Tabular Data:
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 2019s 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
Additional Information: ['.'] | 0.07867 | UPS/2014/page_35.pdf-1 | ['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 2019s 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 | subtract(140.54, 130.29), divide(#0, 130.29) | 0.07867 |
as of december 31 , 2008 what was the percent of the number of securities to be issued upon exercise of outstanding options warrants and rights that did not have an exercise price | Pre-text: ['item 12 .', 'security ownership of certain beneficial owners and management and related stockholder matters information as to the number of shares of our equity securities beneficially owned by each of our directors and nominees for director , our named executive officers , our directors and executive officers as a group , and certain beneficial owners is set forth in the security ownership of certain beneficial owners and management segment of the proxy statement and is incorporated herein by reference .', 'the following table summarizes the equity compensation plans under which union pacific corporation common stock may be issued as of december 31 , 2008 .', 'number of securities to be issued upon exercise of outstanding options , warrants and rights weighted-average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) plan category ( a ) ( b ) ( c ) equity compensation plans approved by security holders 13477830 [1] $ 40.81 [2] 36961123 .']
Table:
****************************************
Row 1: plan category, number of securitiesto be issued uponexercise ofoutstanding optionswarrantsand rights ( a ), weighted-averageexercise price ofoutstanding optionswarrants and rights ( b ), number ofsecuritiesremaining available forfuture issuance underequity compensationplans ( excludingsecurities reflected incolumn ( a ) ) ( c )
Row 2: equity compensation plans approved by security holders, 13477830 [1], $ 40.81 [2], 36961123
Row 3: total, 13477830, $ 40.81, 36961123
****************************************
Additional Information: ['[1] includes 1494925 retention units that do not have an exercise price .', 'does not include 1419554 retention shares that are actually issued and outstanding .', '[2] does not include the retention units or retention shares described above in footnote [1] .', 'item 13 .', 'certain relationships and related transactions and director independence information on related transactions is set forth in the certain relationships and related transactions and compensation committee interlocks and insider participation segments of the proxy statement and is incorporated herein by reference .', 'we do not have any relationship with any outside third party that would enable such a party to negotiate terms of a material transaction that may not be available to , or available from , other parties on an arm 2019s-length basis .', 'information regarding the independence of our directors is set forth in the director independence segment of the proxy statement and is incorporated herein by reference .', 'item 14 .', 'principal accountant fees and services information concerning the fees billed by our independent registered public accounting firm and the nature of services comprising the fees for each of the two most recent fiscal years in each of the following categories : ( i ) audit fees , ( ii ) audit-related fees , ( iii ) tax fees , and ( iv ) all other fees , is set forth in the independent registered public accounting firm 2019s fees and services segment of the proxy statement and is incorporated herein by reference .', 'information concerning our audit committee 2019s policies and procedures pertaining to pre-approval of audit and non-audit services rendered by our independent registered public accounting firm is set forth in the audit committee segment of the proxy statement and is incorporated herein by reference. .'] | 0.11092 | UNP/2008/page_92.pdf-1 | ['item 12 .', 'security ownership of certain beneficial owners and management and related stockholder matters information as to the number of shares of our equity securities beneficially owned by each of our directors and nominees for director , our named executive officers , our directors and executive officers as a group , and certain beneficial owners is set forth in the security ownership of certain beneficial owners and management segment of the proxy statement and is incorporated herein by reference .', 'the following table summarizes the equity compensation plans under which union pacific corporation common stock may be issued as of december 31 , 2008 .', 'number of securities to be issued upon exercise of outstanding options , warrants and rights weighted-average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) plan category ( a ) ( b ) ( c ) equity compensation plans approved by security holders 13477830 [1] $ 40.81 [2] 36961123 .'] | ['[1] includes 1494925 retention units that do not have an exercise price .', 'does not include 1419554 retention shares that are actually issued and outstanding .', '[2] does not include the retention units or retention shares described above in footnote [1] .', 'item 13 .', 'certain relationships and related transactions and director independence information on related transactions is set forth in the certain relationships and related transactions and compensation committee interlocks and insider participation segments of the proxy statement and is incorporated herein by reference .', 'we do not have any relationship with any outside third party that would enable such a party to negotiate terms of a material transaction that may not be available to , or available from , other parties on an arm 2019s-length basis .', 'information regarding the independence of our directors is set forth in the director independence segment of the proxy statement and is incorporated herein by reference .', 'item 14 .', 'principal accountant fees and services information concerning the fees billed by our independent registered public accounting firm and the nature of services comprising the fees for each of the two most recent fiscal years in each of the following categories : ( i ) audit fees , ( ii ) audit-related fees , ( iii ) tax fees , and ( iv ) all other fees , is set forth in the independent registered public accounting firm 2019s fees and services segment of the proxy statement and is incorporated herein by reference .', 'information concerning our audit committee 2019s policies and procedures pertaining to pre-approval of audit and non-audit services rendered by our independent registered public accounting firm is set forth in the audit committee segment of the proxy statement and is incorporated herein by reference. .'] | ****************************************
Row 1: plan category, number of securitiesto be issued uponexercise ofoutstanding optionswarrantsand rights ( a ), weighted-averageexercise price ofoutstanding optionswarrants and rights ( b ), number ofsecuritiesremaining available forfuture issuance underequity compensationplans ( excludingsecurities reflected incolumn ( a ) ) ( c )
Row 2: equity compensation plans approved by security holders, 13477830 [1], $ 40.81 [2], 36961123
Row 3: total, 13477830, $ 40.81, 36961123
**************************************** | divide(1494925, 13477830) | 0.11092 |
what is the total value of issued guarantees and comfort letters for consolidated subsidiaries and non-consolidated affiliates , ( in millions ) ? | Pre-text: ['some operating leases require payment of property taxes , insurance , and maintenance costs in addition to the rent payments .', 'contingent and escalation rent in excess of minimum rent payments and sublease income netted in rent expense were insignificant .', 'noncancelable future lease commitments are : in millions operating leases capital leases .']
----
Data Table:
----------------------------------------
in millions | operating leases | capital leases
----------|----------|----------
fiscal 2019 | $ 137.4 | $ 0.3
fiscal 2020 | 115.7 | 0.2
fiscal 2021 | 92.3 | -
fiscal 2022 | 70.9 | -
fiscal 2023 | 51.8 | -
after fiscal 2023 | 91.2 | -
total noncancelable future lease commitments | $ 559.3 | $ 0.5
less : interest | | -0.2 ( 0.2 )
present value of obligations under capitalleases | | $ 0.3
----------------------------------------
----
Follow-up: ['depreciation on capital leases is recorded as depreciation expense in our results of operations .', 'as of may 27 , 2018 , we have issued guarantees and comfort letters of $ 540.8 million for the debt and other obligations of consolidated subsidiaries , and guarantees and comfort letters of $ 167.3 million for the debt and other obligations of non-consolidated affiliates , mainly cpw .', 'in addition , off-balance sheet arrangements are generally limited to the future payments under non-cancelable operating leases , which totaled $ 559.3 million as of may 27 , 2018 .', 'note 16 .', 'business segment and geographic information we operate in the packaged foods industry .', 'on april 24 , 2018 , we acquired blue buffalo , which became our pet operating segment .', 'in the third quarter of fiscal 2017 , we announced a new global organization structure to streamline our leadership , enhance global scale , and drive improved operational agility to maximize our growth capabilities .', 'this global reorganization required us to reevaluate our operating segments .', 'under our new organization structure , our chief operating decision maker assesses performance and makes decisions about resources to be allocated to our operating segments as follows : north america retail ; convenience stores & foodservice ; europe & australia ; asia & latin america ; and pet .', 'our north america retail operating segment reflects business with a wide variety of grocery stores , mass merchandisers , membership stores , natural food chains , drug , dollar and discount chains , and e-commerce grocery providers .', 'our product categories in this business segment are ready-to-eat cereals , refrigerated yogurt , soup , meal kits , refrigerated and frozen dough products , dessert and baking mixes , frozen pizza and pizza snacks , grain , fruit and savory snacks , and a wide variety of organic products including refrigerated yogurt , nutrition bars , meal kits , salty snacks , ready-to-eat cereal , and grain snacks .', 'our major product categories in our convenience stores & foodservice operating segment are ready-to-eat cereals , snacks , refrigerated yogurt , frozen meals , unbaked and fully baked frozen dough products , and baking mixes .', 'many products we sell are branded to the consumer and nearly all are branded to our customers .', 'we sell to distributors and operators in many customer channels including foodservice , convenience stores , vending , and supermarket bakeries in the united states .', 'our europe & australia operating segment reflects retail and foodservice businesses in the greater europe and australia regions .', 'our product categories include refrigerated yogurt , meal kits , super-premium ice cream , refrigerated and frozen dough products , shelf stable vegetables , grain snacks , and dessert and baking mixes .', 'we .'] | 708.1 | GIS/2018/page_110.pdf-1 | ['some operating leases require payment of property taxes , insurance , and maintenance costs in addition to the rent payments .', 'contingent and escalation rent in excess of minimum rent payments and sublease income netted in rent expense were insignificant .', 'noncancelable future lease commitments are : in millions operating leases capital leases .'] | ['depreciation on capital leases is recorded as depreciation expense in our results of operations .', 'as of may 27 , 2018 , we have issued guarantees and comfort letters of $ 540.8 million for the debt and other obligations of consolidated subsidiaries , and guarantees and comfort letters of $ 167.3 million for the debt and other obligations of non-consolidated affiliates , mainly cpw .', 'in addition , off-balance sheet arrangements are generally limited to the future payments under non-cancelable operating leases , which totaled $ 559.3 million as of may 27 , 2018 .', 'note 16 .', 'business segment and geographic information we operate in the packaged foods industry .', 'on april 24 , 2018 , we acquired blue buffalo , which became our pet operating segment .', 'in the third quarter of fiscal 2017 , we announced a new global organization structure to streamline our leadership , enhance global scale , and drive improved operational agility to maximize our growth capabilities .', 'this global reorganization required us to reevaluate our operating segments .', 'under our new organization structure , our chief operating decision maker assesses performance and makes decisions about resources to be allocated to our operating segments as follows : north america retail ; convenience stores & foodservice ; europe & australia ; asia & latin america ; and pet .', 'our north america retail operating segment reflects business with a wide variety of grocery stores , mass merchandisers , membership stores , natural food chains , drug , dollar and discount chains , and e-commerce grocery providers .', 'our product categories in this business segment are ready-to-eat cereals , refrigerated yogurt , soup , meal kits , refrigerated and frozen dough products , dessert and baking mixes , frozen pizza and pizza snacks , grain , fruit and savory snacks , and a wide variety of organic products including refrigerated yogurt , nutrition bars , meal kits , salty snacks , ready-to-eat cereal , and grain snacks .', 'our major product categories in our convenience stores & foodservice operating segment are ready-to-eat cereals , snacks , refrigerated yogurt , frozen meals , unbaked and fully baked frozen dough products , and baking mixes .', 'many products we sell are branded to the consumer and nearly all are branded to our customers .', 'we sell to distributors and operators in many customer channels including foodservice , convenience stores , vending , and supermarket bakeries in the united states .', 'our europe & australia operating segment reflects retail and foodservice businesses in the greater europe and australia regions .', 'our product categories include refrigerated yogurt , meal kits , super-premium ice cream , refrigerated and frozen dough products , shelf stable vegetables , grain snacks , and dessert and baking mixes .', 'we .'] | ----------------------------------------
in millions | operating leases | capital leases
----------|----------|----------
fiscal 2019 | $ 137.4 | $ 0.3
fiscal 2020 | 115.7 | 0.2
fiscal 2021 | 92.3 | -
fiscal 2022 | 70.9 | -
fiscal 2023 | 51.8 | -
after fiscal 2023 | 91.2 | -
total noncancelable future lease commitments | $ 559.3 | $ 0.5
less : interest | | -0.2 ( 0.2 )
present value of obligations under capitalleases | | $ 0.3
---------------------------------------- | add(540.8, 167.3) | 708.1 |
what is the total value of net operating loss carryforwards? | Pre-text: ['american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) at december 31 , 2005 , the company had net federal and state operating loss carryforwards available to reduce future taxable income of approximately $ 2.2 billion and $ 2.4 billion , respectively .', 'if not utilized , the company 2019s net operating loss carryforwards expire as follows ( in thousands ) : .']
------
Data Table:
years ended december 31, | federal | state
----------|----------|----------
2006 to 2010 | $ 5248 | $ 469747
2011 to 2015 | 10012 | 272662
2016 to 2020 | 397691 | 777707
2021 to 2025 | 1744552 | 897896
total | $ 2157503 | $ 2418012
------
Follow-up: ['sfas no .', '109 , 201caccounting for income taxes , 201d requires that companies record a valuation allowance when it is 201cmore likely than not that some portion or all of the deferred tax assets will not be realized . 201d at december 31 , 2005 , the company has provided a valuation allowance of approximately $ 422.4 million , including approximately $ 249.5 million attributable to spectrasite , primarily related to net operating loss and capital loss carryforwards .', 'approximately $ 237.8 million of the spectrasite valuation allowance was assumed as of the acquisition date .', 'the balance of the valuation allowance primarily relates to net state deferred tax assets .', 'the company has not provided a valuation allowance for the remaining deferred tax assets , primarily its federal net operating loss carryforwards , as management believes the company will have sufficient time to realize these federal net operating loss carryforwards during the twenty-year tax carryforward period .', 'the company intends to recover a portion of its deferred tax asset through its federal income tax refund claims related to the carry back of certain federal net operating losses .', 'in june 2003 and october 2003 , the company filed federal income tax refund claims with the irs relating to the carry back of $ 380.0 million of net operating losses generated prior to 2003 , of which the company initially anticipated receiving approximately $ 90.0 million .', 'based on preliminary discussions with tax authorities , the company has revised its estimate of the net realizable value of the federal income tax refund claims and anticipates receiving a refund of approximately $ 65.0 million as a result of these claims by the end of 2006 .', 'there can be no assurances , however , with respect to the specific amount and timing of any refund .', 'the recoverability of the company 2019s remaining net deferred tax asset has been assessed utilizing stable state ( no growth ) projections based on its current operations .', 'the projections show a significant decrease in depreciation and interest expense in the later years of the carryforward period as a result of a significant portion of its assets being fully depreciated during the first fifteen years of the carryforward period and debt repayments reducing interest expense .', 'accordingly , the recoverability of the net deferred tax asset is not dependent on material improvements to operations , material asset sales or other non-routine transactions .', 'based on its current outlook of future taxable income during the carryforward period , management believes that the net deferred tax asset will be realized .', 'the realization of the company 2019s deferred tax assets as of december 31 , 2005 will be dependent upon its ability to generate approximately $ 1.3 billion in taxable income from january 1 , 2006 to december 31 , 2025 .', 'if the company is unable to generate sufficient taxable income in the future , or carry back losses , as described above , it will be required to reduce its net deferred tax asset through a charge to income tax expense , which would result in a corresponding decrease in stockholders 2019 equity .', 'from time to time the company is subject to examination by various tax authorities in jurisdictions in which the company has significant business operations .', 'the company regularly assesses the likelihood of additional assessments in each of the tax jurisdictions resulting from these examinations .', 'during the year ended .'] | 4575515.0 | AMT/2005/page_105.pdf-2 | ['american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) at december 31 , 2005 , the company had net federal and state operating loss carryforwards available to reduce future taxable income of approximately $ 2.2 billion and $ 2.4 billion , respectively .', 'if not utilized , the company 2019s net operating loss carryforwards expire as follows ( in thousands ) : .'] | ['sfas no .', '109 , 201caccounting for income taxes , 201d requires that companies record a valuation allowance when it is 201cmore likely than not that some portion or all of the deferred tax assets will not be realized . 201d at december 31 , 2005 , the company has provided a valuation allowance of approximately $ 422.4 million , including approximately $ 249.5 million attributable to spectrasite , primarily related to net operating loss and capital loss carryforwards .', 'approximately $ 237.8 million of the spectrasite valuation allowance was assumed as of the acquisition date .', 'the balance of the valuation allowance primarily relates to net state deferred tax assets .', 'the company has not provided a valuation allowance for the remaining deferred tax assets , primarily its federal net operating loss carryforwards , as management believes the company will have sufficient time to realize these federal net operating loss carryforwards during the twenty-year tax carryforward period .', 'the company intends to recover a portion of its deferred tax asset through its federal income tax refund claims related to the carry back of certain federal net operating losses .', 'in june 2003 and october 2003 , the company filed federal income tax refund claims with the irs relating to the carry back of $ 380.0 million of net operating losses generated prior to 2003 , of which the company initially anticipated receiving approximately $ 90.0 million .', 'based on preliminary discussions with tax authorities , the company has revised its estimate of the net realizable value of the federal income tax refund claims and anticipates receiving a refund of approximately $ 65.0 million as a result of these claims by the end of 2006 .', 'there can be no assurances , however , with respect to the specific amount and timing of any refund .', 'the recoverability of the company 2019s remaining net deferred tax asset has been assessed utilizing stable state ( no growth ) projections based on its current operations .', 'the projections show a significant decrease in depreciation and interest expense in the later years of the carryforward period as a result of a significant portion of its assets being fully depreciated during the first fifteen years of the carryforward period and debt repayments reducing interest expense .', 'accordingly , the recoverability of the net deferred tax asset is not dependent on material improvements to operations , material asset sales or other non-routine transactions .', 'based on its current outlook of future taxable income during the carryforward period , management believes that the net deferred tax asset will be realized .', 'the realization of the company 2019s deferred tax assets as of december 31 , 2005 will be dependent upon its ability to generate approximately $ 1.3 billion in taxable income from january 1 , 2006 to december 31 , 2025 .', 'if the company is unable to generate sufficient taxable income in the future , or carry back losses , as described above , it will be required to reduce its net deferred tax asset through a charge to income tax expense , which would result in a corresponding decrease in stockholders 2019 equity .', 'from time to time the company is subject to examination by various tax authorities in jurisdictions in which the company has significant business operations .', 'the company regularly assesses the likelihood of additional assessments in each of the tax jurisdictions resulting from these examinations .', 'during the year ended .'] | years ended december 31, | federal | state
----------|----------|----------
2006 to 2010 | $ 5248 | $ 469747
2011 to 2015 | 10012 | 272662
2016 to 2020 | 397691 | 777707
2021 to 2025 | 1744552 | 897896
total | $ 2157503 | $ 2418012 | add(2157503, 2418012) | 4575515.0 |
at december 312008 what was the debt to the equity ratio | Background: ['on-balance sheet securitizations the company engages in on-balance sheet securitizations .', 'these are securitizations that do not qualify for sales treatment ; thus , the assets remain on the company 2019s balance sheet .', 'the following table presents the carrying amounts and classification of consolidated assets and liabilities transferred in transactions from the consumer credit card , student loan , mortgage and auto businesses , accounted for as secured borrowings : in billions of dollars december 31 , december 31 .']
Data Table:
----------------------------------------
• in billions of dollars, december 31 2008, december 31 2007
• cash, $ 0.3, $ 0.1
• available-for-sale securities, 0.1, 0.2
• loans, 7.5, 7.4
• allowance for loan losses, -0.1 ( 0.1 ), -0.1 ( 0.1 )
• total assets, $ 7.8, $ 7.6
• long-term debt, $ 6.3, $ 5.8
• other liabilities, 0.3, 0.4
• total liabilities, $ 6.6, $ 6.2
----------------------------------------
Follow-up: ['all assets are restricted from being sold or pledged as collateral .', 'the cash flows from these assets are the only source used to pay down the associated liabilities , which are non-recourse to the company 2019s general assets .', 'citi-administered asset-backed commercial paper conduits the company is active in the asset-backed commercial paper conduit business as administrator of several multi-seller commercial paper conduits , and also as a service provider to single-seller and other commercial paper conduits sponsored by third parties .', 'the multi-seller commercial paper conduits are designed to provide the company 2019s customers access to low-cost funding in the commercial paper markets .', 'the conduits purchase assets from or provide financing facilities to customers and are funded by issuing commercial paper to third-party investors .', 'the conduits generally do not purchase assets originated by the company .', 'the funding of the conduit is facilitated by the liquidity support and credit enhancements provided by the company and by certain third parties .', 'as administrator to the conduits , the company is responsible for selecting and structuring of assets purchased or financed by the conduits , making decisions regarding the funding of the conduits , including determining the tenor and other features of the commercial paper issued , monitoring the quality and performance of the conduits 2019 assets , and facilitating the operations and cash flows of the conduits .', 'in return , the company earns structuring fees from clients for individual transactions and earns an administration fee from the conduit , which is equal to the income from client program and liquidity fees of the conduit after payment of interest costs and other fees .', 'this administration fee is fairly stable , since most risks and rewards of the underlying assets are passed back to the customers and , once the asset pricing is negotiated , most ongoing income , costs and fees are relatively stable as a percentage of the conduit 2019s size .', 'the conduits administered by the company do not generally invest in liquid securities that are formally rated by third parties .', 'the assets are privately negotiated and structured transactions that are designed to be held by the conduit , rather than actively traded and sold .', 'the yield earned by the conduit on each asset is generally tied to the rate on the commercial paper issued by the conduit , thus passing interest rate risk to the client .', 'each asset purchased by the conduit is structured with transaction-specific credit enhancement features provided by the third-party seller , including over- collateralization , cash and excess spread collateral accounts , direct recourse or third-party guarantees .', 'these credit enhancements are sized with the objective of approximating a credit rating of a or above , based on the company 2019s internal risk ratings .', 'substantially all of the funding of the conduits is in the form of short- term commercial paper .', 'as of december 31 , 2008 , the weighted average life of the commercial paper issued was approximately 37 days .', 'in addition , the conduits have issued subordinate loss notes and equity with a notional amount of approximately $ 80 million and varying remaining tenors ranging from six months to seven years .', 'the primary credit enhancement provided to the conduit investors is in the form of transaction-specific credit enhancement described above .', 'in addition , there are two additional forms of credit enhancement that protect the commercial paper investors from defaulting assets .', 'first , the subordinate loss notes issued by each conduit absorb any credit losses up to their full notional amount .', 'it is expected that the subordinate loss notes issued by each conduit are sufficient to absorb a majority of the expected losses from each conduit , thereby making the single investor in the subordinate loss note the primary beneficiary under fin 46 ( r ) .', 'second , each conduit has obtained a letter of credit from the company , which is generally 8-10% ( 8-10 % ) of the conduit 2019s assets .', 'the letters of credit provided by the company total approximately $ 5.8 billion and are included in the company 2019s maximum exposure to loss .', 'the net result across all multi-seller conduits administered by the company is that , in the event of defaulted assets in excess of the transaction-specific credit enhancement described above , any losses in each conduit are allocated in the following order : 2022 subordinate loss note holders 2022 the company 2022 the commercial paper investors the company , along with third parties , also provides the conduits with two forms of liquidity agreements that are used to provide funding to the conduits in the event of a market disruption , among other events .', 'each asset of the conduit is supported by a transaction-specific liquidity facility in the form of an asset purchase agreement ( apa ) .', 'under the apa , the company has agreed to purchase non-defaulted eligible receivables from the conduit at par .', 'any assets purchased under the apa are subject to increased pricing .', 'the apa is not designed to provide credit support to the conduit , as it generally does not permit the purchase of defaulted or impaired assets and generally reprices the assets purchased to consider potential increased credit risk .', 'the apa covers all assets in the conduits and is considered in the company 2019s maximum exposure to loss .', 'in addition , the company provides the conduits with program-wide liquidity in the form of short-term lending commitments .', 'under these commitments , the company has agreed to lend to the conduits in the event of a short-term disruption in the commercial paper market , subject to specified conditions .', 'the total notional exposure under the program-wide liquidity agreement is $ 11.3 billion and is considered in the company 2019s maximum exposure to loss .', 'the company receives fees for providing both types of liquidity agreement and considers these fees to be on fair market terms. .'] | 1.18182 | C/2008/page_189.pdf-4 | ['on-balance sheet securitizations the company engages in on-balance sheet securitizations .', 'these are securitizations that do not qualify for sales treatment ; thus , the assets remain on the company 2019s balance sheet .', 'the following table presents the carrying amounts and classification of consolidated assets and liabilities transferred in transactions from the consumer credit card , student loan , mortgage and auto businesses , accounted for as secured borrowings : in billions of dollars december 31 , december 31 .'] | ['all assets are restricted from being sold or pledged as collateral .', 'the cash flows from these assets are the only source used to pay down the associated liabilities , which are non-recourse to the company 2019s general assets .', 'citi-administered asset-backed commercial paper conduits the company is active in the asset-backed commercial paper conduit business as administrator of several multi-seller commercial paper conduits , and also as a service provider to single-seller and other commercial paper conduits sponsored by third parties .', 'the multi-seller commercial paper conduits are designed to provide the company 2019s customers access to low-cost funding in the commercial paper markets .', 'the conduits purchase assets from or provide financing facilities to customers and are funded by issuing commercial paper to third-party investors .', 'the conduits generally do not purchase assets originated by the company .', 'the funding of the conduit is facilitated by the liquidity support and credit enhancements provided by the company and by certain third parties .', 'as administrator to the conduits , the company is responsible for selecting and structuring of assets purchased or financed by the conduits , making decisions regarding the funding of the conduits , including determining the tenor and other features of the commercial paper issued , monitoring the quality and performance of the conduits 2019 assets , and facilitating the operations and cash flows of the conduits .', 'in return , the company earns structuring fees from clients for individual transactions and earns an administration fee from the conduit , which is equal to the income from client program and liquidity fees of the conduit after payment of interest costs and other fees .', 'this administration fee is fairly stable , since most risks and rewards of the underlying assets are passed back to the customers and , once the asset pricing is negotiated , most ongoing income , costs and fees are relatively stable as a percentage of the conduit 2019s size .', 'the conduits administered by the company do not generally invest in liquid securities that are formally rated by third parties .', 'the assets are privately negotiated and structured transactions that are designed to be held by the conduit , rather than actively traded and sold .', 'the yield earned by the conduit on each asset is generally tied to the rate on the commercial paper issued by the conduit , thus passing interest rate risk to the client .', 'each asset purchased by the conduit is structured with transaction-specific credit enhancement features provided by the third-party seller , including over- collateralization , cash and excess spread collateral accounts , direct recourse or third-party guarantees .', 'these credit enhancements are sized with the objective of approximating a credit rating of a or above , based on the company 2019s internal risk ratings .', 'substantially all of the funding of the conduits is in the form of short- term commercial paper .', 'as of december 31 , 2008 , the weighted average life of the commercial paper issued was approximately 37 days .', 'in addition , the conduits have issued subordinate loss notes and equity with a notional amount of approximately $ 80 million and varying remaining tenors ranging from six months to seven years .', 'the primary credit enhancement provided to the conduit investors is in the form of transaction-specific credit enhancement described above .', 'in addition , there are two additional forms of credit enhancement that protect the commercial paper investors from defaulting assets .', 'first , the subordinate loss notes issued by each conduit absorb any credit losses up to their full notional amount .', 'it is expected that the subordinate loss notes issued by each conduit are sufficient to absorb a majority of the expected losses from each conduit , thereby making the single investor in the subordinate loss note the primary beneficiary under fin 46 ( r ) .', 'second , each conduit has obtained a letter of credit from the company , which is generally 8-10% ( 8-10 % ) of the conduit 2019s assets .', 'the letters of credit provided by the company total approximately $ 5.8 billion and are included in the company 2019s maximum exposure to loss .', 'the net result across all multi-seller conduits administered by the company is that , in the event of defaulted assets in excess of the transaction-specific credit enhancement described above , any losses in each conduit are allocated in the following order : 2022 subordinate loss note holders 2022 the company 2022 the commercial paper investors the company , along with third parties , also provides the conduits with two forms of liquidity agreements that are used to provide funding to the conduits in the event of a market disruption , among other events .', 'each asset of the conduit is supported by a transaction-specific liquidity facility in the form of an asset purchase agreement ( apa ) .', 'under the apa , the company has agreed to purchase non-defaulted eligible receivables from the conduit at par .', 'any assets purchased under the apa are subject to increased pricing .', 'the apa is not designed to provide credit support to the conduit , as it generally does not permit the purchase of defaulted or impaired assets and generally reprices the assets purchased to consider potential increased credit risk .', 'the apa covers all assets in the conduits and is considered in the company 2019s maximum exposure to loss .', 'in addition , the company provides the conduits with program-wide liquidity in the form of short-term lending commitments .', 'under these commitments , the company has agreed to lend to the conduits in the event of a short-term disruption in the commercial paper market , subject to specified conditions .', 'the total notional exposure under the program-wide liquidity agreement is $ 11.3 billion and is considered in the company 2019s maximum exposure to loss .', 'the company receives fees for providing both types of liquidity agreement and considers these fees to be on fair market terms. .'] | ----------------------------------------
• in billions of dollars, december 31 2008, december 31 2007
• cash, $ 0.3, $ 0.1
• available-for-sale securities, 0.1, 0.2
• loans, 7.5, 7.4
• allowance for loan losses, -0.1 ( 0.1 ), -0.1 ( 0.1 )
• total assets, $ 7.8, $ 7.6
• long-term debt, $ 6.3, $ 5.8
• other liabilities, 0.3, 0.4
• total liabilities, $ 6.6, $ 6.2
---------------------------------------- | divide(7.8, 6.6) | 1.18182 |
purchase commitments ( in thousands ) totaled what for 2010 and 2011? | Context: ['purchase commitments the company has entered into various purchase agreements for minimum amounts of pulpwood processing and energy over periods ranging from one to twenty years at fixed prices .', 'total purchase commitments are as follows: .']
######
Table:
----------------------------------------
, ( in thousands )
2010, $ 6951
2011, 5942
2012, 3659
2013, 1486
2014, 1486
thereafter, 25048
total, $ 44572
----------------------------------------
######
Additional Information: ['these purchase agreements are not marked to market .', 'the company purchased $ 37.3 million , $ 29.4 million , and $ 14.5 million during the years ended december 31 , 2009 , 2008 and 2007 , respectively , under these purchase agreements .', 'litigation pca is a party to various legal actions arising in the ordinary course of business .', 'these legal actions cover a broad variety of claims spanning our entire business .', 'as of the date of this filing , the company believes it is not reasonably possible that the resolution of these legal actions will , individually or in the aggregate , have a material adverse effect on its financial position , results of operations , or cash flows .', 'environmental liabilities the potential costs for various environmental matters are uncertain due to such factors as the unknown magnitude of possible cleanup costs , the complexity and evolving nature of governmental laws and regulations and their interpretations , and the timing , varying costs and effectiveness of alternative cleanup technologies .', 'from 1994 through 2009 , remediation costs at the company 2019s mills and corrugated plants totaled approximately $ 3.2 million .', 'as of december 31 , 2009 , the company maintained an environmental reserve of $ 9.1 million relating to on-site landfills ( see note 13 ) and surface impoundments as well as ongoing and anticipated remedial projects .', 'liabilities recorded for environmental contingencies are estimates of the probable costs based upon available information and assumptions .', 'because of these uncertainties , pca 2019s estimates may change .', 'as of the date of this filing , the company believes that it is not reasonably possible that future environmental expenditures and asset retirement obligations above the $ 9.1 million accrued as of december 31 , 2009 , will have a material impact on its financial condition , results of operations , or cash flows .', 'in connection with the sale to pca of its containerboard and corrugated products business , pactiv agreed to retain all liability for all former facilities and all sites associated with pre-closing off-site waste disposal and all environmental liabilities related to a closed landfill located near the company 2019s filer city mill .', '13 .', 'asset retirement obligations asset retirement obligations consist primarily of landfill capping and closure and post-closure costs .', 'pca is legally required to perform capping and closure and post-closure care on the landfills at each of the company 2019s mills .', 'in accordance with asc 410 , 201c asset retirement and environmental obligations , 201d pca recognizes the fair value of these liabilities as an asset retirement obligation for each landfill and capitalizes packaging corporation of america notes to consolidated financial statements ( continued ) december 31 , 2009 .'] | 12893.0 | PKG/2009/page_65.pdf-1 | ['purchase commitments the company has entered into various purchase agreements for minimum amounts of pulpwood processing and energy over periods ranging from one to twenty years at fixed prices .', 'total purchase commitments are as follows: .'] | ['these purchase agreements are not marked to market .', 'the company purchased $ 37.3 million , $ 29.4 million , and $ 14.5 million during the years ended december 31 , 2009 , 2008 and 2007 , respectively , under these purchase agreements .', 'litigation pca is a party to various legal actions arising in the ordinary course of business .', 'these legal actions cover a broad variety of claims spanning our entire business .', 'as of the date of this filing , the company believes it is not reasonably possible that the resolution of these legal actions will , individually or in the aggregate , have a material adverse effect on its financial position , results of operations , or cash flows .', 'environmental liabilities the potential costs for various environmental matters are uncertain due to such factors as the unknown magnitude of possible cleanup costs , the complexity and evolving nature of governmental laws and regulations and their interpretations , and the timing , varying costs and effectiveness of alternative cleanup technologies .', 'from 1994 through 2009 , remediation costs at the company 2019s mills and corrugated plants totaled approximately $ 3.2 million .', 'as of december 31 , 2009 , the company maintained an environmental reserve of $ 9.1 million relating to on-site landfills ( see note 13 ) and surface impoundments as well as ongoing and anticipated remedial projects .', 'liabilities recorded for environmental contingencies are estimates of the probable costs based upon available information and assumptions .', 'because of these uncertainties , pca 2019s estimates may change .', 'as of the date of this filing , the company believes that it is not reasonably possible that future environmental expenditures and asset retirement obligations above the $ 9.1 million accrued as of december 31 , 2009 , will have a material impact on its financial condition , results of operations , or cash flows .', 'in connection with the sale to pca of its containerboard and corrugated products business , pactiv agreed to retain all liability for all former facilities and all sites associated with pre-closing off-site waste disposal and all environmental liabilities related to a closed landfill located near the company 2019s filer city mill .', '13 .', 'asset retirement obligations asset retirement obligations consist primarily of landfill capping and closure and post-closure costs .', 'pca is legally required to perform capping and closure and post-closure care on the landfills at each of the company 2019s mills .', 'in accordance with asc 410 , 201c asset retirement and environmental obligations , 201d pca recognizes the fair value of these liabilities as an asset retirement obligation for each landfill and capitalizes packaging corporation of america notes to consolidated financial statements ( continued ) december 31 , 2009 .'] | ----------------------------------------
, ( in thousands )
2010, $ 6951
2011, 5942
2012, 3659
2013, 1486
2014, 1486
thereafter, 25048
total, $ 44572
---------------------------------------- | add(6951, 5942) | 12893.0 |
what percentage of stock option awards are vested as of december 26 , 2015? | Context: ['intel corporation notes to consolidated financial statements ( continued ) the aggregate fair value of awards that vested in 2015 was $ 1.5 billion ( $ 1.1 billion in 2014 and $ 1.0 billion in 2013 ) , which represents the market value of our common stock on the date that the rsus vested .', 'the grant-date fair value of awards that vested in 2015 was $ 1.1 billion ( $ 949 million in 2014 and $ 899 million in 2013 ) .', 'the number of rsus vested includes shares of common stock that we withheld on behalf of employees to satisfy the minimum statutory tax withholding requirements .', 'rsus that are expected to vest are net of estimated future forfeitures .', 'as of december 26 , 2015 , there was $ 1.8 billion in unrecognized compensation costs related to rsus granted under our equity incentive plans .', 'we expect to recognize those costs over a weighted average period of 1.2 years .', 'stock option awards as of december 26 , 2015 , options outstanding that have vested and are expected to vest were as follows : number of options ( in millions ) weighted average exercise weighted average remaining contractual ( in years ) aggregate intrinsic ( in millions ) .']
Tabular Data:
| number ofoptions ( in millions ) | weightedaverageexerciseprice | weightedaverageremainingcontractualterm ( in years ) | aggregateintrinsicvalue ( in millions )
----------|----------|----------|----------|----------
vested | 43.8 | $ 21.07 | 1.8 | $ 609
expected to vest | 9.6 | $ 24.07 | 4.1 | $ 104
total | 53.4 | $ 21.61 | 2.2 | $ 713
Follow-up: ['aggregate intrinsic value represents the difference between the exercise price and $ 34.98 , the closing price of our common stock on december 24 , 2015 , as reported on the nasdaq global select market , for all in-the-money options outstanding .', 'options outstanding that are expected to vest are net of estimated future option forfeitures .', 'options with a fair value of $ 42 million completed vesting in 2015 ( $ 68 million in 2014 and $ 186 million in 2013 ) .', 'as of december 26 , 2015 , there was $ 13 million in unrecognized compensation costs related to stock options granted under our equity incentive plans .', 'we expect to recognize those costs over a weighted average period of approximately eight months. .'] | 0.82022 | INTC/2015/page_122.pdf-3 | ['intel corporation notes to consolidated financial statements ( continued ) the aggregate fair value of awards that vested in 2015 was $ 1.5 billion ( $ 1.1 billion in 2014 and $ 1.0 billion in 2013 ) , which represents the market value of our common stock on the date that the rsus vested .', 'the grant-date fair value of awards that vested in 2015 was $ 1.1 billion ( $ 949 million in 2014 and $ 899 million in 2013 ) .', 'the number of rsus vested includes shares of common stock that we withheld on behalf of employees to satisfy the minimum statutory tax withholding requirements .', 'rsus that are expected to vest are net of estimated future forfeitures .', 'as of december 26 , 2015 , there was $ 1.8 billion in unrecognized compensation costs related to rsus granted under our equity incentive plans .', 'we expect to recognize those costs over a weighted average period of 1.2 years .', 'stock option awards as of december 26 , 2015 , options outstanding that have vested and are expected to vest were as follows : number of options ( in millions ) weighted average exercise weighted average remaining contractual ( in years ) aggregate intrinsic ( in millions ) .'] | ['aggregate intrinsic value represents the difference between the exercise price and $ 34.98 , the closing price of our common stock on december 24 , 2015 , as reported on the nasdaq global select market , for all in-the-money options outstanding .', 'options outstanding that are expected to vest are net of estimated future option forfeitures .', 'options with a fair value of $ 42 million completed vesting in 2015 ( $ 68 million in 2014 and $ 186 million in 2013 ) .', 'as of december 26 , 2015 , there was $ 13 million in unrecognized compensation costs related to stock options granted under our equity incentive plans .', 'we expect to recognize those costs over a weighted average period of approximately eight months. .'] | | number ofoptions ( in millions ) | weightedaverageexerciseprice | weightedaverageremainingcontractualterm ( in years ) | aggregateintrinsicvalue ( in millions )
----------|----------|----------|----------|----------
vested | 43.8 | $ 21.07 | 1.8 | $ 609
expected to vest | 9.6 | $ 24.07 | 4.1 | $ 104
total | 53.4 | $ 21.61 | 2.2 | $ 713 | divide(43.8, 53.4) | 0.82022 |
the firm redeemed approximately $ 1.06 billion of these interests in hedge funds during the year ended december 2012 . what percentage was this of the remaining funds at 12/31/21? | Context: ['notes to consolidated financial statements investments in funds that calculate net asset value per share cash instruments at fair value include investments in funds that are valued based on the net asset value per share ( nav ) of the investment fund .', 'the firm uses nav as its measure of fair value for fund investments when ( i ) the fund investment does not have a readily determinable fair value and ( ii ) the nav of the investment fund is calculated in a manner consistent with the measurement principles of investment company accounting , including measurement of the underlying investments at fair value .', 'the firm 2019s investments in funds that calculate nav primarily consist of investments in firm-sponsored funds where the firm co-invests with third-party investors .', 'the private equity , credit and real estate funds are primarily closed-end funds in which the firm 2019s investments are not eligible for redemption .', 'distributions will be received from these funds as the underlying assets are liquidated and it is estimated that substantially all of the underlying assets of existing funds will be liquidated over the next seven years .', 'the firm continues to manage its existing funds taking into account the transition periods under the volcker rule of the u.s .', 'dodd-frank wall street reform and consumer protection act ( dodd-frank act ) , although the rules have not yet been finalized .', 'the firm 2019s investments in hedge funds are generally redeemable on a quarterly basis with 91 days 2019 notice , subject to a maximum redemption level of 25% ( 25 % ) of the firm 2019s initial investments at any quarter-end .', 'the firm currently plans to comply with the volcker rule by redeeming certain of its interests in hedge funds .', 'the firm redeemed approximately $ 1.06 billion of these interests in hedge funds during the year ended december 2012 .', 'the table below presents the fair value of the firm 2019s investments in , and unfunded commitments to , funds that calculate nav. .']
######
Tabular Data:
• in millions, as of december 2012 fair value of investments, as of december 2012 unfunded commitments, as of december 2012 fair value of investments, unfunded commitments
• private equity funds1, $ 7680, $ 2778, $ 8074, $ 3514
• credit funds2, 3927, 2843, 3596, 3568
• hedge funds3, 2167, 2014, 3165, 2014
• real estatefunds4, 2006, 870, 1531, 1613
• total, $ 15780, $ 6491, $ 16366, $ 8695
######
Post-table: ['1 .', 'these funds primarily invest in a broad range of industries worldwide in a variety of situations , including leveraged buyouts , recapitalizations and growth investments .', '2 .', 'these funds generally invest in loans and other fixed income instruments and are focused on providing private high-yield capital for mid- to large-sized leveraged and management buyout transactions , recapitalizations , financings , refinancings , acquisitions and restructurings for private equity firms , private family companies and corporate issuers .', '3 .', 'these funds are primarily multi-disciplinary hedge funds that employ a fundamental bottom-up investment approach across various asset classes and strategies including long/short equity , credit , convertibles , risk arbitrage , special situations and capital structure arbitrage .', '4 .', 'these funds invest globally , primarily in real estate companies , loan portfolios , debt recapitalizations and direct property .', 'goldman sachs 2012 annual report 127 .'] | 0.48916 | GS/2012/page_129.pdf-4 | ['notes to consolidated financial statements investments in funds that calculate net asset value per share cash instruments at fair value include investments in funds that are valued based on the net asset value per share ( nav ) of the investment fund .', 'the firm uses nav as its measure of fair value for fund investments when ( i ) the fund investment does not have a readily determinable fair value and ( ii ) the nav of the investment fund is calculated in a manner consistent with the measurement principles of investment company accounting , including measurement of the underlying investments at fair value .', 'the firm 2019s investments in funds that calculate nav primarily consist of investments in firm-sponsored funds where the firm co-invests with third-party investors .', 'the private equity , credit and real estate funds are primarily closed-end funds in which the firm 2019s investments are not eligible for redemption .', 'distributions will be received from these funds as the underlying assets are liquidated and it is estimated that substantially all of the underlying assets of existing funds will be liquidated over the next seven years .', 'the firm continues to manage its existing funds taking into account the transition periods under the volcker rule of the u.s .', 'dodd-frank wall street reform and consumer protection act ( dodd-frank act ) , although the rules have not yet been finalized .', 'the firm 2019s investments in hedge funds are generally redeemable on a quarterly basis with 91 days 2019 notice , subject to a maximum redemption level of 25% ( 25 % ) of the firm 2019s initial investments at any quarter-end .', 'the firm currently plans to comply with the volcker rule by redeeming certain of its interests in hedge funds .', 'the firm redeemed approximately $ 1.06 billion of these interests in hedge funds during the year ended december 2012 .', 'the table below presents the fair value of the firm 2019s investments in , and unfunded commitments to , funds that calculate nav. .'] | ['1 .', 'these funds primarily invest in a broad range of industries worldwide in a variety of situations , including leveraged buyouts , recapitalizations and growth investments .', '2 .', 'these funds generally invest in loans and other fixed income instruments and are focused on providing private high-yield capital for mid- to large-sized leveraged and management buyout transactions , recapitalizations , financings , refinancings , acquisitions and restructurings for private equity firms , private family companies and corporate issuers .', '3 .', 'these funds are primarily multi-disciplinary hedge funds that employ a fundamental bottom-up investment approach across various asset classes and strategies including long/short equity , credit , convertibles , risk arbitrage , special situations and capital structure arbitrage .', '4 .', 'these funds invest globally , primarily in real estate companies , loan portfolios , debt recapitalizations and direct property .', 'goldman sachs 2012 annual report 127 .'] | • in millions, as of december 2012 fair value of investments, as of december 2012 unfunded commitments, as of december 2012 fair value of investments, unfunded commitments
• private equity funds1, $ 7680, $ 2778, $ 8074, $ 3514
• credit funds2, 3927, 2843, 3596, 3568
• hedge funds3, 2167, 2014, 3165, 2014
• real estatefunds4, 2006, 870, 1531, 1613
• total, $ 15780, $ 6491, $ 16366, $ 8695 | divide(2167, const_1000), divide(1.06, #0) | 0.48916 |
for the the quarter ended december 31 , 2006 what was the percent of the total number of shares purchased bought in october | Background: ['issuer purchases of equity securities the following table provides information about our repurchases of common stock during the three-month period ended december 31 , 2006 .', 'period total number of shares purchased average price paid per total number of shares purchased as part of publicly announced program ( 1 ) maximum number of shares that may yet be purchased under the program ( 2 ) .']
--
Data Table:
========================================
period, total number ofshares purchased, average pricepaid pershare, total number of sharespurchased as part ofpublicly announcedprogram ( 1 ), maximum number ofshares that may yet bepurchased under theprogram ( 2 )
october, 447700, $ 86.92, 447700, 36108688
november, 849200, 86.79, 849200, 35259488
december, 929400, 90.74, 929400, 34330088
========================================
--
Additional Information: ['( 1 ) we repurchased a total of 2226300 shares of our common stock during the quarter ended december 31 , 2006 .', '( 2 ) in october 2002 , our board of directors approved a share repurchase program for the repurchase of up to 23 million shares of our common stock .', 'since the program 2019s inception , an additional 85 million shares have been authorized for repurchase under the program .', 'management has discretion to determine the number and price of the shares to be repurchased , and the timing of any repurchases in compliance with applicable law and regulation , under the program .', 'as of december 31 , 2006 , we had repurchased a total of 73669912 shares under the program .', 'in 2006 , we did not make any unregistered sales of equity securities. .'] | 0.48171 | LMT/2006/page_37.pdf-1 | ['issuer purchases of equity securities the following table provides information about our repurchases of common stock during the three-month period ended december 31 , 2006 .', 'period total number of shares purchased average price paid per total number of shares purchased as part of publicly announced program ( 1 ) maximum number of shares that may yet be purchased under the program ( 2 ) .'] | ['( 1 ) we repurchased a total of 2226300 shares of our common stock during the quarter ended december 31 , 2006 .', '( 2 ) in october 2002 , our board of directors approved a share repurchase program for the repurchase of up to 23 million shares of our common stock .', 'since the program 2019s inception , an additional 85 million shares have been authorized for repurchase under the program .', 'management has discretion to determine the number and price of the shares to be repurchased , and the timing of any repurchases in compliance with applicable law and regulation , under the program .', 'as of december 31 , 2006 , we had repurchased a total of 73669912 shares under the program .', 'in 2006 , we did not make any unregistered sales of equity securities. .'] | ========================================
period, total number ofshares purchased, average pricepaid pershare, total number of sharespurchased as part ofpublicly announcedprogram ( 1 ), maximum number ofshares that may yet bepurchased under theprogram ( 2 )
october, 447700, $ 86.92, 447700, 36108688
november, 849200, 86.79, 849200, 35259488
december, 929400, 90.74, 929400, 34330088
======================================== | divide(447700, 929400) | 0.48171 |
what portion of the total minimum payment is related to interest? | Pre-text: ['table of contents hologic , inc .', 'notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) location during fiscal 2009 .', 'the company was responsible for a significant portion of the construction costs and therefore was deemed , for accounting purposes , to be the owner of the building during the construction period , in accordance with asc 840 , leases , subsection 40-15-5 .', 'during the year ended september 27 , 2008 , the company recorded an additional $ 4400 in fair market value of the building , which was completed in fiscal 2008 .', 'this is in addition to the $ 3000 fair market value of the land and the $ 7700 fair market value related to the building constructed that cytyc had recorded as of october 22 , 2007 .', 'the company has recorded such fair market value within property and equipment on its consolidated balance sheets .', 'at september 26 , 2009 , the company has recorded $ 1508 in accrued expenses and $ 16329 in other long-term liabilities related to this obligation in the consolidated balance sheet .', 'the term of the lease is for a period of approximately ten years with the option to extend for two consecutive five-year terms .', 'the lease term commenced in may 2008 , at which time the company began transferring the company 2019s costa rican operations to this facility .', 'it is expected that this process will be complete by february 2009 .', 'at the completion of the construction period , the company reviewed the lease for potential sale-leaseback treatment in accordance with asc 840 , subsection 40 , sale-leaseback transactions ( formerly sfas no .', '98 ( 201csfas 98 201d ) , accounting for leases : sale-leaseback transactions involving real estate , sales-type leases of real estate , definition of the lease term , and initial direct costs of direct financing leases 2014an amendment of financial accounting standards board ( 201cfasb 201d ) statements no .', '13 , 66 , and 91 and a rescission of fasb statement no .', '26 and technical bulletin no .', '79-11 ) .', 'based on its analysis , the company determined that the lease did not qualify for sale-leaseback treatment .', 'therefore , the building , leasehold improvements and associated liabilities will remain on the company 2019s financial statements throughout the lease term , and the building and leasehold improvements will be depreciated on a straight line basis over their estimated useful lives of 35 years .', 'future minimum lease payments , including principal and interest , under this lease were as follows at september 26 , 2009: .']
########
Table:
========================================
• , amount
• fiscal 2010, $ 1508
• fiscal 2011, 1561
• fiscal 2012, 1616
• fiscal 2013, 1672
• fiscal 2014, 1731
• thereafter, 7288
• total minimum payments, 15376
• less-amount representing interest, -6094 ( 6094 )
• total, $ 9282
========================================
########
Post-table: ['in addition , as a result of the merger with cytyc , the company assumed the obligation to a non-cancelable lease agreement for a building with approximately 146000 square feet located in marlborough , massachusetts , to be principally used as an additional manufacturing facility .', 'in 2011 , the company will have an option to lease an additional 30000 square feet .', 'as part of the lease agreement , the lessor agreed to allow the company to make significant renovations to the facility to prepare the facility for the company 2019s manufacturing needs .', 'the company was responsible for a significant amount of the construction costs and therefore was deemed , for accounting purposes , to be the owner of the building during the construction period in accordance with asc 840-40-15-5 .', 'the $ 13200 fair market value of the facility is included within property and equipment , net on the consolidated balance sheet .', 'at september 26 , 2009 , the company has recorded $ 982 in accrued expenses and source : hologic inc , 10-k , november 24 , 2009 powered by morningstar ae document research 2120 the information contained herein may not be copied , adapted or distributed and is not warranted to be accurate , complete or timely .', 'the user assumes all risks for any damages or losses arising from any use of this information , except to the extent such damages or losses cannot be limited or excluded by applicable law .', 'past financial performance is no guarantee of future results. .'] | 0.39633 | HOLX/2009/page_153.pdf-2 | ['table of contents hologic , inc .', 'notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) location during fiscal 2009 .', 'the company was responsible for a significant portion of the construction costs and therefore was deemed , for accounting purposes , to be the owner of the building during the construction period , in accordance with asc 840 , leases , subsection 40-15-5 .', 'during the year ended september 27 , 2008 , the company recorded an additional $ 4400 in fair market value of the building , which was completed in fiscal 2008 .', 'this is in addition to the $ 3000 fair market value of the land and the $ 7700 fair market value related to the building constructed that cytyc had recorded as of october 22 , 2007 .', 'the company has recorded such fair market value within property and equipment on its consolidated balance sheets .', 'at september 26 , 2009 , the company has recorded $ 1508 in accrued expenses and $ 16329 in other long-term liabilities related to this obligation in the consolidated balance sheet .', 'the term of the lease is for a period of approximately ten years with the option to extend for two consecutive five-year terms .', 'the lease term commenced in may 2008 , at which time the company began transferring the company 2019s costa rican operations to this facility .', 'it is expected that this process will be complete by february 2009 .', 'at the completion of the construction period , the company reviewed the lease for potential sale-leaseback treatment in accordance with asc 840 , subsection 40 , sale-leaseback transactions ( formerly sfas no .', '98 ( 201csfas 98 201d ) , accounting for leases : sale-leaseback transactions involving real estate , sales-type leases of real estate , definition of the lease term , and initial direct costs of direct financing leases 2014an amendment of financial accounting standards board ( 201cfasb 201d ) statements no .', '13 , 66 , and 91 and a rescission of fasb statement no .', '26 and technical bulletin no .', '79-11 ) .', 'based on its analysis , the company determined that the lease did not qualify for sale-leaseback treatment .', 'therefore , the building , leasehold improvements and associated liabilities will remain on the company 2019s financial statements throughout the lease term , and the building and leasehold improvements will be depreciated on a straight line basis over their estimated useful lives of 35 years .', 'future minimum lease payments , including principal and interest , under this lease were as follows at september 26 , 2009: .'] | ['in addition , as a result of the merger with cytyc , the company assumed the obligation to a non-cancelable lease agreement for a building with approximately 146000 square feet located in marlborough , massachusetts , to be principally used as an additional manufacturing facility .', 'in 2011 , the company will have an option to lease an additional 30000 square feet .', 'as part of the lease agreement , the lessor agreed to allow the company to make significant renovations to the facility to prepare the facility for the company 2019s manufacturing needs .', 'the company was responsible for a significant amount of the construction costs and therefore was deemed , for accounting purposes , to be the owner of the building during the construction period in accordance with asc 840-40-15-5 .', 'the $ 13200 fair market value of the facility is included within property and equipment , net on the consolidated balance sheet .', 'at september 26 , 2009 , the company has recorded $ 982 in accrued expenses and source : hologic inc , 10-k , november 24 , 2009 powered by morningstar ae document research 2120 the information contained herein may not be copied , adapted or distributed and is not warranted to be accurate , complete or timely .', 'the user assumes all risks for any damages or losses arising from any use of this information , except to the extent such damages or losses cannot be limited or excluded by applicable law .', 'past financial performance is no guarantee of future results. .'] | ========================================
• , amount
• fiscal 2010, $ 1508
• fiscal 2011, 1561
• fiscal 2012, 1616
• fiscal 2013, 1672
• fiscal 2014, 1731
• thereafter, 7288
• total minimum payments, 15376
• less-amount representing interest, -6094 ( 6094 )
• total, $ 9282
======================================== | divide(6094, 15376) | 0.39633 |
what was the total percentage increase in total deposits from dec 31 , 2017 to dec 31 , 2018? | Context: ['the pnc financial services group , inc .', '2013 form 10-k 65 liquidity and capital management liquidity risk has two fundamental components .', 'the first is potential loss assuming we were unable to meet our funding requirements at a reasonable cost .', 'the second is the potential inability to operate our businesses because adequate contingent liquidity is not available .', 'we manage liquidity risk at the consolidated company level ( bank , parent company and nonbank subsidiaries combined ) to help ensure that we can obtain cost-effective funding to meet current and future obligations under both normal 201cbusiness as usual 201d and stressful circumstances , and to help ensure that we maintain an appropriate level of contingent liquidity .', 'management monitors liquidity through a series of early warning indicators that may indicate a potential market , or pnc-specific , liquidity stress event .', 'in addition , management performs a set of liquidity stress tests over multiple time horizons with varying levels of severity and maintains a contingency funding plan to address a potential liquidity stress event .', 'in the most severe liquidity stress simulation , we assume that our liquidity position is under pressure , while the market in general is under systemic pressure .', 'the simulation considers , among other things , the impact of restricted access to both secured and unsecured external sources of funding , accelerated run-off of customer deposits , valuation pressure on assets and heavy demand to fund committed obligations .', 'parent company liquidity guidelines are designed to help ensure that sufficient liquidity is available to meet our parent company obligations over the succeeding 24-month period .', 'liquidity-related risk limits are established within our enterprise liquidity management policy and supporting policies .', 'management committees , including the asset and liability committee , and the board of directors and its risk committee regularly review compliance with key established limits .', 'in addition to these liquidity monitoring measures and tools described above , we also monitor our liquidity by reference to the liquidity coverage ratio ( lcr ) which is further described in the supervision and regulation section in item 1 of this report .', 'pnc and pnc bank calculate the lcr on a daily basis and as of december 31 , 2018 , the lcr for pnc and pnc bank exceeded the fully phased-in requirement of 100% ( 100 % ) .', 'we provide additional information regarding regulatory liquidity requirements and their potential impact on us in the supervision and regulation section of item 1 business and item 1a risk factors of this report .', 'sources of liquidity our largest source of liquidity on a consolidated basis is the customer deposit base generated by our banking businesses .', 'these deposits provide relatively stable and low-cost funding .', 'total deposits increased to $ 267.8 billion at december 31 , 2018 from $ 265.1 billion at december 31 , 2017 driven by growth in interest-bearing deposits partially offset by a decrease in noninterest-bearing deposits .', 'see the funding sources section of the consolidated balance sheet review in this report for additional information related to our deposits .', 'additionally , certain assets determined by us to be liquid as well as unused borrowing capacity from a number of sources are also available to manage our liquidity position .', 'at december 31 , 2018 , our liquid assets consisted of short-term investments ( federal funds sold , resale agreements , trading securities and interest-earning deposits with banks ) totaling $ 22.1 billion and securities available for sale totaling $ 63.4 billion .', 'the level of liquid assets fluctuates over time based on many factors , including market conditions , loan and deposit growth and balance sheet management activities .', 'our liquid assets included $ 2.7 billion of securities available for sale and trading securities pledged as collateral to secure public and trust deposits , repurchase agreements and for other purposes .', 'in addition , $ 4.9 billion of securities held to maturity were also pledged as collateral for these purposes .', 'we also obtain liquidity through various forms of funding , including long-term debt ( senior notes , subordinated debt and fhlb borrowings ) and short-term borrowings ( securities sold under repurchase agreements , commercial paper and other short-term borrowings ) .', 'see note 10 borrowed funds and the funding sources section of the consolidated balance sheet review in this report for additional information related to our borrowings .', 'total senior and subordinated debt , on a consolidated basis , decreased due to the following activity : table 24 : senior and subordinated debt .']
####
Data Table:
----------------------------------------
Row 1: in billions, 2018
Row 2: january 1, $ 33.3
Row 3: issuances, 4.5
Row 4: calls and maturities, -6.8 ( 6.8 )
Row 5: other, -.1 ( .1 )
Row 6: december 31, $ 30.9
----------------------------------------
####
Follow-up: ['.'] | 0.01018 | PNC/2018/page_81.pdf-5 | ['the pnc financial services group , inc .', '2013 form 10-k 65 liquidity and capital management liquidity risk has two fundamental components .', 'the first is potential loss assuming we were unable to meet our funding requirements at a reasonable cost .', 'the second is the potential inability to operate our businesses because adequate contingent liquidity is not available .', 'we manage liquidity risk at the consolidated company level ( bank , parent company and nonbank subsidiaries combined ) to help ensure that we can obtain cost-effective funding to meet current and future obligations under both normal 201cbusiness as usual 201d and stressful circumstances , and to help ensure that we maintain an appropriate level of contingent liquidity .', 'management monitors liquidity through a series of early warning indicators that may indicate a potential market , or pnc-specific , liquidity stress event .', 'in addition , management performs a set of liquidity stress tests over multiple time horizons with varying levels of severity and maintains a contingency funding plan to address a potential liquidity stress event .', 'in the most severe liquidity stress simulation , we assume that our liquidity position is under pressure , while the market in general is under systemic pressure .', 'the simulation considers , among other things , the impact of restricted access to both secured and unsecured external sources of funding , accelerated run-off of customer deposits , valuation pressure on assets and heavy demand to fund committed obligations .', 'parent company liquidity guidelines are designed to help ensure that sufficient liquidity is available to meet our parent company obligations over the succeeding 24-month period .', 'liquidity-related risk limits are established within our enterprise liquidity management policy and supporting policies .', 'management committees , including the asset and liability committee , and the board of directors and its risk committee regularly review compliance with key established limits .', 'in addition to these liquidity monitoring measures and tools described above , we also monitor our liquidity by reference to the liquidity coverage ratio ( lcr ) which is further described in the supervision and regulation section in item 1 of this report .', 'pnc and pnc bank calculate the lcr on a daily basis and as of december 31 , 2018 , the lcr for pnc and pnc bank exceeded the fully phased-in requirement of 100% ( 100 % ) .', 'we provide additional information regarding regulatory liquidity requirements and their potential impact on us in the supervision and regulation section of item 1 business and item 1a risk factors of this report .', 'sources of liquidity our largest source of liquidity on a consolidated basis is the customer deposit base generated by our banking businesses .', 'these deposits provide relatively stable and low-cost funding .', 'total deposits increased to $ 267.8 billion at december 31 , 2018 from $ 265.1 billion at december 31 , 2017 driven by growth in interest-bearing deposits partially offset by a decrease in noninterest-bearing deposits .', 'see the funding sources section of the consolidated balance sheet review in this report for additional information related to our deposits .', 'additionally , certain assets determined by us to be liquid as well as unused borrowing capacity from a number of sources are also available to manage our liquidity position .', 'at december 31 , 2018 , our liquid assets consisted of short-term investments ( federal funds sold , resale agreements , trading securities and interest-earning deposits with banks ) totaling $ 22.1 billion and securities available for sale totaling $ 63.4 billion .', 'the level of liquid assets fluctuates over time based on many factors , including market conditions , loan and deposit growth and balance sheet management activities .', 'our liquid assets included $ 2.7 billion of securities available for sale and trading securities pledged as collateral to secure public and trust deposits , repurchase agreements and for other purposes .', 'in addition , $ 4.9 billion of securities held to maturity were also pledged as collateral for these purposes .', 'we also obtain liquidity through various forms of funding , including long-term debt ( senior notes , subordinated debt and fhlb borrowings ) and short-term borrowings ( securities sold under repurchase agreements , commercial paper and other short-term borrowings ) .', 'see note 10 borrowed funds and the funding sources section of the consolidated balance sheet review in this report for additional information related to our borrowings .', 'total senior and subordinated debt , on a consolidated basis , decreased due to the following activity : table 24 : senior and subordinated debt .'] | ['.'] | ----------------------------------------
Row 1: in billions, 2018
Row 2: january 1, $ 33.3
Row 3: issuances, 4.5
Row 4: calls and maturities, -6.8 ( 6.8 )
Row 5: other, -.1 ( .1 )
Row 6: december 31, $ 30.9
---------------------------------------- | subtract(267.8, 265.1), divide(#0, 265.1) | 0.01018 |
in 2007 what was the percent of the income from continuing operations that was from the us | Background: ['jpmorgan chase & co .', '/ 2008 annual report 211 jpmorgan chase is subject to ongoing tax examinations by the tax authorities of the various jurisdictions in which it operates , including u.s .', 'federal and state and non-u.s .', 'jurisdictions .', 'the firm 2019s consoli- dated federal income tax returns are presently under examination by the internal revenue service ( 201cirs 201d ) for the years 2003 , 2004 and 2005 .', 'the consolidated federal income tax returns of bank one corporation , which merged with and into jpmorgan chase on july 1 , 2004 , are under examination for the years 2000 through 2003 , and for the period january 1 , 2004 , through july 1 , 2004 .', 'the consolidat- ed federal income tax returns of bear stearns for the years ended november 30 , 2003 , 2004 and 2005 , are also under examination .', 'all three examinations are expected to conclude in 2009 .', 'the irs audits of the consolidated federal income tax returns of jpmorgan chase for the years 2006 and 2007 , and for bear stearns for the years ended november 30 , 2006 and 2007 , are expected to commence in 2009 .', 'administrative appeals are pending with the irs relating to prior examination periods .', 'for 2002 and prior years , refund claims relating to income and credit adjustments , and to tax attribute carry- backs , for jpmorgan chase and its predecessor entities , including bank one , have been filed .', 'amended returns to reflect refund claims primarily attributable to net operating losses and tax credit carry- backs will be filed for the final bear stearns federal consolidated tax return for the period december 1 , 2007 , through may 30 , 2008 , and for prior years .', 'the following table presents the u.s .', 'and non-u.s .', 'components of income from continuing operations before income tax expense ( benefit ) . .']
--
Tabular Data:
========================================
year ended december 31 ( in millions ) 2008 2007 2006
u.s . $ -2094 ( 2094 ) $ 13720 $ 12934
non-u.s. ( a ) 4867 9085 6952
income from continuing operationsbefore income taxexpense ( benefit ) $ 2773 $ 22805 $ 19886
========================================
--
Post-table: ['non-u.s. ( a ) 4867 9085 6952 income from continuing operations before income tax expense ( benefit ) $ 2773 $ 22805 $ 19886 ( a ) for purposes of this table , non-u.s .', 'income is defined as income generated from operations located outside the u.s .', 'note 29 2013 restrictions on cash and intercom- pany funds transfers the business of jpmorgan chase bank , national association ( 201cjpmorgan chase bank , n.a . 201d ) is subject to examination and regula- tion by the office of the comptroller of the currency ( 201cocc 201d ) .', 'the bank is a member of the u.s .', 'federal reserve system , and its deposits are insured by the fdic as discussed in note 20 on page 202 of this annual report .', 'the board of governors of the federal reserve system ( the 201cfederal reserve 201d ) requires depository institutions to maintain cash reserves with a federal reserve bank .', 'the average amount of reserve bal- ances deposited by the firm 2019s bank subsidiaries with various federal reserve banks was approximately $ 1.6 billion in 2008 and 2007 .', 'restrictions imposed by u.s .', 'federal law prohibit jpmorgan chase and certain of its affiliates from borrowing from banking subsidiaries 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 com- pany 2013only basis ) are dividends and interest from jpmorgan chase bank , n.a. , and the other banking and nonbanking subsidiaries 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 pro- hibit 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 opin- ion , payment of a dividend would constitute an unsafe or unsound practice in light of the financial condition of the banking organization .', 'at january 1 , 2009 and 2008 , jpmorgan chase 2019s banking sub- sidiaries could pay , in the aggregate , $ 17.0 billion and $ 16.2 billion , respectively , in dividends to their respective bank holding companies without the prior approval of their relevant banking regulators .', 'the capacity to pay dividends in 2009 will be supplemented by the bank- ing 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 , 2008 and 2007 , cash in the amount of $ 20.8 billion and $ 16.0 billion , respectively , and securities with a fair value of $ 12.1 billion and $ 3.4 billion , respectively , were segregated in special bank accounts for the benefit of securities and futures brokerage customers. .'] | 0.60162 | JPM/2008/page_213.pdf-4 | ['jpmorgan chase & co .', '/ 2008 annual report 211 jpmorgan chase is subject to ongoing tax examinations by the tax authorities of the various jurisdictions in which it operates , including u.s .', 'federal and state and non-u.s .', 'jurisdictions .', 'the firm 2019s consoli- dated federal income tax returns are presently under examination by the internal revenue service ( 201cirs 201d ) for the years 2003 , 2004 and 2005 .', 'the consolidated federal income tax returns of bank one corporation , which merged with and into jpmorgan chase on july 1 , 2004 , are under examination for the years 2000 through 2003 , and for the period january 1 , 2004 , through july 1 , 2004 .', 'the consolidat- ed federal income tax returns of bear stearns for the years ended november 30 , 2003 , 2004 and 2005 , are also under examination .', 'all three examinations are expected to conclude in 2009 .', 'the irs audits of the consolidated federal income tax returns of jpmorgan chase for the years 2006 and 2007 , and for bear stearns for the years ended november 30 , 2006 and 2007 , are expected to commence in 2009 .', 'administrative appeals are pending with the irs relating to prior examination periods .', 'for 2002 and prior years , refund claims relating to income and credit adjustments , and to tax attribute carry- backs , for jpmorgan chase and its predecessor entities , including bank one , have been filed .', 'amended returns to reflect refund claims primarily attributable to net operating losses and tax credit carry- backs will be filed for the final bear stearns federal consolidated tax return for the period december 1 , 2007 , through may 30 , 2008 , and for prior years .', 'the following table presents the u.s .', 'and non-u.s .', 'components of income from continuing operations before income tax expense ( benefit ) . .'] | ['non-u.s. ( a ) 4867 9085 6952 income from continuing operations before income tax expense ( benefit ) $ 2773 $ 22805 $ 19886 ( a ) for purposes of this table , non-u.s .', 'income is defined as income generated from operations located outside the u.s .', 'note 29 2013 restrictions on cash and intercom- pany funds transfers the business of jpmorgan chase bank , national association ( 201cjpmorgan chase bank , n.a . 201d ) is subject to examination and regula- tion by the office of the comptroller of the currency ( 201cocc 201d ) .', 'the bank is a member of the u.s .', 'federal reserve system , and its deposits are insured by the fdic as discussed in note 20 on page 202 of this annual report .', 'the board of governors of the federal reserve system ( the 201cfederal reserve 201d ) requires depository institutions to maintain cash reserves with a federal reserve bank .', 'the average amount of reserve bal- ances deposited by the firm 2019s bank subsidiaries with various federal reserve banks was approximately $ 1.6 billion in 2008 and 2007 .', 'restrictions imposed by u.s .', 'federal law prohibit jpmorgan chase and certain of its affiliates from borrowing from banking subsidiaries 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 com- pany 2013only basis ) are dividends and interest from jpmorgan chase bank , n.a. , and the other banking and nonbanking subsidiaries 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 pro- hibit 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 opin- ion , payment of a dividend would constitute an unsafe or unsound practice in light of the financial condition of the banking organization .', 'at january 1 , 2009 and 2008 , jpmorgan chase 2019s banking sub- sidiaries could pay , in the aggregate , $ 17.0 billion and $ 16.2 billion , respectively , in dividends to their respective bank holding companies without the prior approval of their relevant banking regulators .', 'the capacity to pay dividends in 2009 will be supplemented by the bank- ing 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 , 2008 and 2007 , cash in the amount of $ 20.8 billion and $ 16.0 billion , respectively , and securities with a fair value of $ 12.1 billion and $ 3.4 billion , respectively , were segregated in special bank accounts for the benefit of securities and futures brokerage customers. .'] | ========================================
year ended december 31 ( in millions ) 2008 2007 2006
u.s . $ -2094 ( 2094 ) $ 13720 $ 12934
non-u.s. ( a ) 4867 9085 6952
income from continuing operationsbefore income taxexpense ( benefit ) $ 2773 $ 22805 $ 19886
======================================== | divide(13720, 22805) | 0.60162 |
what percent of total contractual obligations is categorized as long term debt? | Background: ['repurchase programs .', 'we utilized cash generated from operating activities , $ 57.0 million in cash proceeds received from employee stock compensation plans and borrowings under credit facilities to fund the repurchases .', 'during 2008 , we borrowed $ 330.0 million from our existing credit facilities to fund stock repurchases and partially fund the acquisition of abbott spine .', 'we may use excess cash or further borrow from our credit facilities to repurchase additional common stock under the $ 1.25 billion program which expires december 31 , 2009 .', 'we have a five year $ 1350 million revolving , multi- currency , senior unsecured credit facility maturing november 30 , 2012 ( the 201csenior credit facility 201d ) .', 'we had $ 460.1 million outstanding under the senior credit facility at december 31 , 2008 , and an availability of $ 889.9 million .', 'the senior credit facility contains provisions by which we can increase the line to $ 1750 million and request that the maturity date be extended for two additional one-year periods .', 'we and certain of our wholly owned foreign subsidiaries are the borrowers under the senior credit facility .', 'borrowings under the senior credit facility are used for general corporate purposes and bear interest at a libor- based rate plus an applicable margin determined by reference to our senior unsecured long-term credit rating and the amounts drawn under the senior credit facility , at an alternate base rate , or at a fixed rate determined through a competitive bid process .', 'the senior credit facility contains customary affirmative and negative covenants and events of default for an unsecured financing arrangement , including , among other things , limitations on consolidations , mergers and sales of assets .', 'financial covenants include a maximum leverage ratio of 3.0 to 1.0 and a minimum interest coverage ratio of 3.5 to 1.0 .', 'if we fall below an investment grade credit rating , additional restrictions would result , including restrictions on investments , payment of dividends and stock repurchases .', 'we were in compliance with all covenants under the senior credit facility as of december 31 , 2008 .', 'commitments under the senior credit facility are subject to certain fees , including a facility and a utilization fee .', 'the senior credit facility is rated a- by standard & poor 2019s ratings services and is not rated by moody 2019s investors 2019 service , inc .', 'notwithstanding recent interruptions in global credit markets , as of the date of this report , we believe our access to our senior credit facility has not been impaired .', 'in october 2008 , we funded a portion of the acquisition of abbott spine with approximately $ 110 million of new borrowings under the senior credit facility .', 'each of the lenders under the senior credit facility funded its portion of the new borrowings in accordance with its commitment percentage .', 'we also have available uncommitted credit facilities totaling $ 71.4 million .', 'management believes that cash flows from operations , together with available borrowings under the senior credit facility , are sufficient to meet our expected working capital , capital expenditure and debt service needs .', 'should investment opportunities arise , we believe that our earnings , balance sheet and cash flows will allow us to obtain additional capital , if necessary .', 'contractual obligations we have entered into contracts with various third parties in the normal course of business which will require future payments .', 'the following table illustrates our contractual obligations ( in millions ) : contractual obligations total 2009 thereafter .']
----------
Tabular Data:
contractual obligations, total, 2009, 2010 and 2011, 2012 and 2013, 2014 and thereafter
long-term debt, $ 460.1, $ 2013, $ 2013, $ 460.1, $ 2013
operating leases, 149.3, 38.2, 51.0, 30.2, 29.9
purchase obligations, 56.8, 47.7, 7.6, 1.5, 2013
long-term income taxes payable, 116.9, 2013, 69.6, 24.9, 22.4
other long-term liabilities, 237.0, 2013, 30.7, 15.1, 191.2
total contractual obligations, $ 1020.1, $ 85.9, $ 158.9, $ 531.8, $ 243.5
----------
Additional Information: ['long-term income taxes payable 116.9 2013 69.6 24.9 22.4 other long-term liabilities 237.0 2013 30.7 15.1 191.2 total contractual obligations $ 1020.1 $ 85.9 $ 158.9 $ 531.8 $ 243.5 critical accounting estimates our financial results are affected by the selection and application of accounting policies and methods .', 'significant accounting policies which require management 2019s judgment are discussed below .', 'excess inventory and instruments 2013 we must determine as of each balance sheet date how much , if any , of our inventory may ultimately prove to be unsaleable or unsaleable at our carrying cost .', 'similarly , we must also determine if instruments on hand will be put to productive use or remain undeployed as a result of excess supply .', 'reserves are established to effectively adjust inventory and instruments to net realizable value .', 'to determine the appropriate level of reserves , we evaluate current stock levels in relation to historical and expected patterns of demand for all of our products and instrument systems and components .', 'the basis for the determination is generally the same for all inventory and instrument items and categories except for work-in-progress inventory , which is recorded at cost .', 'obsolete or discontinued items are generally destroyed and completely written off .', 'management evaluates the need for changes to valuation reserves based on market conditions , competitive offerings and other factors on a regular basis .', 'income taxes 2013 we estimate income tax expense and income tax liabilities and assets by taxable jurisdiction .', 'realization of deferred tax assets in each taxable jurisdiction is dependent on our ability to generate future taxable income sufficient to realize the benefits .', 'we evaluate deferred tax assets on an ongoing basis and provide valuation allowances if it is determined to be 201cmore likely than not 201d that the deferred tax benefit will not be realized .', 'federal income taxes are provided on the portion of the income of foreign subsidiaries that is expected to be remitted to the u.s .', 'we operate within numerous taxing jurisdictions .', 'we are subject to regulatory z i m m e r h o l d i n g s , i n c .', '2 0 0 8 f o r m 1 0 - k a n n u a l r e p o r t %%transmsg*** transmitting job : c48761 pcn : 031000000 ***%%pcmsg|31 |00013|yes|no|02/24/2009 06:10|0|0|page is valid , no graphics -- color : d| .'] | 0.45103 | ZBH/2008/page_57.pdf-2 | ['repurchase programs .', 'we utilized cash generated from operating activities , $ 57.0 million in cash proceeds received from employee stock compensation plans and borrowings under credit facilities to fund the repurchases .', 'during 2008 , we borrowed $ 330.0 million from our existing credit facilities to fund stock repurchases and partially fund the acquisition of abbott spine .', 'we may use excess cash or further borrow from our credit facilities to repurchase additional common stock under the $ 1.25 billion program which expires december 31 , 2009 .', 'we have a five year $ 1350 million revolving , multi- currency , senior unsecured credit facility maturing november 30 , 2012 ( the 201csenior credit facility 201d ) .', 'we had $ 460.1 million outstanding under the senior credit facility at december 31 , 2008 , and an availability of $ 889.9 million .', 'the senior credit facility contains provisions by which we can increase the line to $ 1750 million and request that the maturity date be extended for two additional one-year periods .', 'we and certain of our wholly owned foreign subsidiaries are the borrowers under the senior credit facility .', 'borrowings under the senior credit facility are used for general corporate purposes and bear interest at a libor- based rate plus an applicable margin determined by reference to our senior unsecured long-term credit rating and the amounts drawn under the senior credit facility , at an alternate base rate , or at a fixed rate determined through a competitive bid process .', 'the senior credit facility contains customary affirmative and negative covenants and events of default for an unsecured financing arrangement , including , among other things , limitations on consolidations , mergers and sales of assets .', 'financial covenants include a maximum leverage ratio of 3.0 to 1.0 and a minimum interest coverage ratio of 3.5 to 1.0 .', 'if we fall below an investment grade credit rating , additional restrictions would result , including restrictions on investments , payment of dividends and stock repurchases .', 'we were in compliance with all covenants under the senior credit facility as of december 31 , 2008 .', 'commitments under the senior credit facility are subject to certain fees , including a facility and a utilization fee .', 'the senior credit facility is rated a- by standard & poor 2019s ratings services and is not rated by moody 2019s investors 2019 service , inc .', 'notwithstanding recent interruptions in global credit markets , as of the date of this report , we believe our access to our senior credit facility has not been impaired .', 'in october 2008 , we funded a portion of the acquisition of abbott spine with approximately $ 110 million of new borrowings under the senior credit facility .', 'each of the lenders under the senior credit facility funded its portion of the new borrowings in accordance with its commitment percentage .', 'we also have available uncommitted credit facilities totaling $ 71.4 million .', 'management believes that cash flows from operations , together with available borrowings under the senior credit facility , are sufficient to meet our expected working capital , capital expenditure and debt service needs .', 'should investment opportunities arise , we believe that our earnings , balance sheet and cash flows will allow us to obtain additional capital , if necessary .', 'contractual obligations we have entered into contracts with various third parties in the normal course of business which will require future payments .', 'the following table illustrates our contractual obligations ( in millions ) : contractual obligations total 2009 thereafter .'] | ['long-term income taxes payable 116.9 2013 69.6 24.9 22.4 other long-term liabilities 237.0 2013 30.7 15.1 191.2 total contractual obligations $ 1020.1 $ 85.9 $ 158.9 $ 531.8 $ 243.5 critical accounting estimates our financial results are affected by the selection and application of accounting policies and methods .', 'significant accounting policies which require management 2019s judgment are discussed below .', 'excess inventory and instruments 2013 we must determine as of each balance sheet date how much , if any , of our inventory may ultimately prove to be unsaleable or unsaleable at our carrying cost .', 'similarly , we must also determine if instruments on hand will be put to productive use or remain undeployed as a result of excess supply .', 'reserves are established to effectively adjust inventory and instruments to net realizable value .', 'to determine the appropriate level of reserves , we evaluate current stock levels in relation to historical and expected patterns of demand for all of our products and instrument systems and components .', 'the basis for the determination is generally the same for all inventory and instrument items and categories except for work-in-progress inventory , which is recorded at cost .', 'obsolete or discontinued items are generally destroyed and completely written off .', 'management evaluates the need for changes to valuation reserves based on market conditions , competitive offerings and other factors on a regular basis .', 'income taxes 2013 we estimate income tax expense and income tax liabilities and assets by taxable jurisdiction .', 'realization of deferred tax assets in each taxable jurisdiction is dependent on our ability to generate future taxable income sufficient to realize the benefits .', 'we evaluate deferred tax assets on an ongoing basis and provide valuation allowances if it is determined to be 201cmore likely than not 201d that the deferred tax benefit will not be realized .', 'federal income taxes are provided on the portion of the income of foreign subsidiaries that is expected to be remitted to the u.s .', 'we operate within numerous taxing jurisdictions .', 'we are subject to regulatory z i m m e r h o l d i n g s , i n c .', '2 0 0 8 f o r m 1 0 - k a n n u a l r e p o r t %%transmsg*** transmitting job : c48761 pcn : 031000000 ***%%pcmsg|31 |00013|yes|no|02/24/2009 06:10|0|0|page is valid , no graphics -- color : d| .'] | contractual obligations, total, 2009, 2010 and 2011, 2012 and 2013, 2014 and thereafter
long-term debt, $ 460.1, $ 2013, $ 2013, $ 460.1, $ 2013
operating leases, 149.3, 38.2, 51.0, 30.2, 29.9
purchase obligations, 56.8, 47.7, 7.6, 1.5, 2013
long-term income taxes payable, 116.9, 2013, 69.6, 24.9, 22.4
other long-term liabilities, 237.0, 2013, 30.7, 15.1, 191.2
total contractual obligations, $ 1020.1, $ 85.9, $ 158.9, $ 531.8, $ 243.5 | divide(460.1, 1020.1) | 0.45103 |
what was the percentage change in net cash from operating activities from 2010 to 2011? | Background: ['united parcel service , inc .', "and subsidiaries management's discussion and analysis of financial condition and results of operations liquidity and capital resources operating activities the following is a summary of the significant sources ( uses ) of cash from operating activities ( amounts in millions ) : ."]
----------
Tabular Data:
****************************************
2012 2011 2010
net income $ 807 $ 3804 $ 3338
non-cash operating activities ( a ) 7301 4505 4398
pension and postretirement plan contributions ( ups-sponsored plans ) -917 ( 917 ) -1436 ( 1436 ) -3240 ( 3240 )
income tax receivables and payables 280 236 -319 ( 319 )
changes in working capital and other noncurrent assets and liabilities -148 ( 148 ) -12 ( 12 ) -340 ( 340 )
other operating activities -107 ( 107 ) -24 ( 24 ) -2 ( 2 )
net cash from operating activities $ 7216 $ 7073 $ 3835
****************************************
----------
Follow-up: ['( a ) represents depreciation and amortization , gains and losses on derivative and foreign exchange transactions , deferred income taxes , provisions for uncollectible accounts , pension and postretirement benefit expense , stock compensation expense , impairment charges and other non-cash items .', 'cash from operating activities remained strong throughout the 2010 to 2012 time period .', 'operating cash flow was favorably impacted in 2012 , compared with 2011 , by lower contributions into our defined benefit pension and postretirement benefit plans ; however , this was partially offset by changes in our working capital position , which was impacted by overall growth in the business .', 'the change in the cash flows for income tax receivables and payables in 2011 and 2010 was primarily related to the timing of discretionary pension contributions during 2010 , as discussed further in the following paragraph .', 'except for discretionary or accelerated fundings of our plans , contributions to our company-sponsored pension plans have largely varied based on whether any minimum funding requirements are present for individual pension plans .', '2022 in 2012 , we made a $ 355 million required contribution to the ups ibt pension plan .', '2022 in 2011 , we made a $ 1.2 billion contribution to the ups ibt pension plan , which satisfied our 2011 contribution requirements and also approximately $ 440 million in contributions that would not have been required until after 2011 .', '2022 in 2010 , we made $ 2.0 billion in discretionary contributions to our ups retirement and ups pension plans , and $ 980 million in required contributions to our ups ibt pension plan .', '2022 the remaining contributions in the 2010 through 2012 period were largely due to contributions to our international pension plans and u.s .', 'postretirement medical benefit plans .', 'as discussed further in the 201ccontractual commitments 201d section , we have minimum funding requirements in the next several years , primarily related to the ups ibt pension , ups retirement and ups pension plans .', 'as of december 31 , 2012 , the total of our worldwide holdings of cash and cash equivalents was $ 7.327 billion .', 'approximately $ 4.211 billion of this amount was held in european subsidiaries with the intended purpose of completing the acquisition of tnt express n.v .', '( see note 16 to the consolidated financial statements ) .', 'excluding this portion of cash held outside the u.s .', 'for acquisition-related purposes , approximately 50%-60% ( 50%-60 % ) of the remaining cash and cash equivalents are held by foreign subsidiaries throughout the year .', 'the amount of cash held by our u.s .', 'and foreign subsidiaries fluctuates throughout the year due to a variety of factors , including the timing of cash receipts and disbursements in the normal course of business .', 'cash provided by operating activities in the united states continues to be our primary source of funds to finance domestic operating needs , capital expenditures , share repurchases and dividend payments to shareowners .', 'to the extent that such amounts represent previously untaxed earnings , the cash held by foreign subsidiaries would be subject to tax if such amounts were repatriated in the form of dividends ; however , not all international cash balances would have to be repatriated in the form of a dividend if returned to the u.s .', 'when amounts earned by foreign subsidiaries are expected to be indefinitely reinvested , no accrual for taxes is provided. .'] | 0.84433 | UPS/2012/page_51.pdf-4 | ['united parcel service , inc .', "and subsidiaries management's discussion and analysis of financial condition and results of operations liquidity and capital resources operating activities the following is a summary of the significant sources ( uses ) of cash from operating activities ( amounts in millions ) : ."] | ['( a ) represents depreciation and amortization , gains and losses on derivative and foreign exchange transactions , deferred income taxes , provisions for uncollectible accounts , pension and postretirement benefit expense , stock compensation expense , impairment charges and other non-cash items .', 'cash from operating activities remained strong throughout the 2010 to 2012 time period .', 'operating cash flow was favorably impacted in 2012 , compared with 2011 , by lower contributions into our defined benefit pension and postretirement benefit plans ; however , this was partially offset by changes in our working capital position , which was impacted by overall growth in the business .', 'the change in the cash flows for income tax receivables and payables in 2011 and 2010 was primarily related to the timing of discretionary pension contributions during 2010 , as discussed further in the following paragraph .', 'except for discretionary or accelerated fundings of our plans , contributions to our company-sponsored pension plans have largely varied based on whether any minimum funding requirements are present for individual pension plans .', '2022 in 2012 , we made a $ 355 million required contribution to the ups ibt pension plan .', '2022 in 2011 , we made a $ 1.2 billion contribution to the ups ibt pension plan , which satisfied our 2011 contribution requirements and also approximately $ 440 million in contributions that would not have been required until after 2011 .', '2022 in 2010 , we made $ 2.0 billion in discretionary contributions to our ups retirement and ups pension plans , and $ 980 million in required contributions to our ups ibt pension plan .', '2022 the remaining contributions in the 2010 through 2012 period were largely due to contributions to our international pension plans and u.s .', 'postretirement medical benefit plans .', 'as discussed further in the 201ccontractual commitments 201d section , we have minimum funding requirements in the next several years , primarily related to the ups ibt pension , ups retirement and ups pension plans .', 'as of december 31 , 2012 , the total of our worldwide holdings of cash and cash equivalents was $ 7.327 billion .', 'approximately $ 4.211 billion of this amount was held in european subsidiaries with the intended purpose of completing the acquisition of tnt express n.v .', '( see note 16 to the consolidated financial statements ) .', 'excluding this portion of cash held outside the u.s .', 'for acquisition-related purposes , approximately 50%-60% ( 50%-60 % ) of the remaining cash and cash equivalents are held by foreign subsidiaries throughout the year .', 'the amount of cash held by our u.s .', 'and foreign subsidiaries fluctuates throughout the year due to a variety of factors , including the timing of cash receipts and disbursements in the normal course of business .', 'cash provided by operating activities in the united states continues to be our primary source of funds to finance domestic operating needs , capital expenditures , share repurchases and dividend payments to shareowners .', 'to the extent that such amounts represent previously untaxed earnings , the cash held by foreign subsidiaries would be subject to tax if such amounts were repatriated in the form of dividends ; however , not all international cash balances would have to be repatriated in the form of a dividend if returned to the u.s .', 'when amounts earned by foreign subsidiaries are expected to be indefinitely reinvested , no accrual for taxes is provided. .'] | ****************************************
2012 2011 2010
net income $ 807 $ 3804 $ 3338
non-cash operating activities ( a ) 7301 4505 4398
pension and postretirement plan contributions ( ups-sponsored plans ) -917 ( 917 ) -1436 ( 1436 ) -3240 ( 3240 )
income tax receivables and payables 280 236 -319 ( 319 )
changes in working capital and other noncurrent assets and liabilities -148 ( 148 ) -12 ( 12 ) -340 ( 340 )
other operating activities -107 ( 107 ) -24 ( 24 ) -2 ( 2 )
net cash from operating activities $ 7216 $ 7073 $ 3835
**************************************** | subtract(7073, 3835), divide(#0, 3835) | 0.84433 |
what was the percent of the interest expense of the benefit obligation in 2015 | Background: ['nbcuniversal media , llc our consolidated balance sheet also includes the assets and liabilities of certain legacy pension plans , as well as the assets and liabilities for pension plans of certain foreign subsidiaries .', 'as of december 31 , 2015 and 2014 , the benefit obligations associated with these plans exceeded the fair value of the plan assets by $ 67 million and $ 51 million , respectively .', 'other employee benefits deferred compensation plans we maintain unfunded , nonqualified deferred compensation plans for certain members of management ( each , a 201cparticipant 201d ) .', 'the amount of compensation deferred by each participant is based on participant elections .', 'participants in the plan designate one or more valuation funds , independently established funds or indices that are used to determine the amount of investment gain or loss in the participant 2019s account .', 'additionally , certain of our employees participate in comcast 2019s unfunded , nonqualified deferred compensa- tion plan .', 'the amount of compensation deferred by each participant is based on participant elections .', 'participant accounts are credited with income primarily based on a fixed annual rate .', 'in the case of both deferred compensation plans , participants are eligible to receive distributions from their account based on elected deferral periods that are consistent with the plans and applicable tax law .', 'the table below presents the benefit obligation and interest expense for our deferred compensation plans. .']
##########
Data Table:
****************************************
Row 1: year ended december 31 ( in millions ), 2015, 2014, 2013
Row 2: benefit obligation, $ 417, $ 349, $ 250
Row 3: interest expense, $ 28, $ 24, $ 18
****************************************
##########
Additional Information: ['retirement investment plans we sponsor several 401 ( k ) defined contribution retirement plans that allow eligible employees to contribute a portion of their compensation through payroll deductions in accordance with specified plan guidelines .', 'we make contributions to the plans that include matching a percentage of the employees 2019 contributions up to certain limits .', 'in 2015 , 2014 and 2013 , expenses related to these plans totaled $ 174 million , $ 165 million and $ 152 million , respectively .', 'multiemployer benefit plans we participate in various multiemployer benefit plans , including pension and postretirement benefit plans , that cover some of our employees and temporary employees who are represented by labor unions .', 'we also partic- ipate in other multiemployer benefit plans that provide health and welfare and retirement savings benefits to active and retired participants .', 'we make periodic contributions to these plans in accordance with the terms of applicable collective bargaining agreements and laws but do not sponsor or administer these plans .', 'we do not participate in any multiemployer benefit plans for which we consider our contributions to be individually significant , and the largest plans in which we participate are funded at a level of 80% ( 80 % ) or greater .', 'in 2015 , 2014 and 2013 , the total contributions we made to multiemployer pension plans were $ 77 million , $ 58 million and $ 59 million , respectively .', 'in 2015 , 2014 and 2013 , the total contributions we made to multi- employer postretirement and other benefit plans were $ 119 million , $ 125 million and $ 98 million , respectively .', 'if we cease to be obligated to make contributions or were to otherwise withdraw from participation in any of these plans , applicable law would require us to fund our allocable share of the unfunded vested benefits , which is known as a withdrawal liability .', 'in addition , actions taken by other participating employers may lead to adverse changes in the financial condition of one of these plans , which could result in an increase in our withdrawal liability .', 'comcast 2015 annual report on form 10-k 166 .'] | 0.06715 | CMCSA/2015/page_169.pdf-2 | ['nbcuniversal media , llc our consolidated balance sheet also includes the assets and liabilities of certain legacy pension plans , as well as the assets and liabilities for pension plans of certain foreign subsidiaries .', 'as of december 31 , 2015 and 2014 , the benefit obligations associated with these plans exceeded the fair value of the plan assets by $ 67 million and $ 51 million , respectively .', 'other employee benefits deferred compensation plans we maintain unfunded , nonqualified deferred compensation plans for certain members of management ( each , a 201cparticipant 201d ) .', 'the amount of compensation deferred by each participant is based on participant elections .', 'participants in the plan designate one or more valuation funds , independently established funds or indices that are used to determine the amount of investment gain or loss in the participant 2019s account .', 'additionally , certain of our employees participate in comcast 2019s unfunded , nonqualified deferred compensa- tion plan .', 'the amount of compensation deferred by each participant is based on participant elections .', 'participant accounts are credited with income primarily based on a fixed annual rate .', 'in the case of both deferred compensation plans , participants are eligible to receive distributions from their account based on elected deferral periods that are consistent with the plans and applicable tax law .', 'the table below presents the benefit obligation and interest expense for our deferred compensation plans. .'] | ['retirement investment plans we sponsor several 401 ( k ) defined contribution retirement plans that allow eligible employees to contribute a portion of their compensation through payroll deductions in accordance with specified plan guidelines .', 'we make contributions to the plans that include matching a percentage of the employees 2019 contributions up to certain limits .', 'in 2015 , 2014 and 2013 , expenses related to these plans totaled $ 174 million , $ 165 million and $ 152 million , respectively .', 'multiemployer benefit plans we participate in various multiemployer benefit plans , including pension and postretirement benefit plans , that cover some of our employees and temporary employees who are represented by labor unions .', 'we also partic- ipate in other multiemployer benefit plans that provide health and welfare and retirement savings benefits to active and retired participants .', 'we make periodic contributions to these plans in accordance with the terms of applicable collective bargaining agreements and laws but do not sponsor or administer these plans .', 'we do not participate in any multiemployer benefit plans for which we consider our contributions to be individually significant , and the largest plans in which we participate are funded at a level of 80% ( 80 % ) or greater .', 'in 2015 , 2014 and 2013 , the total contributions we made to multiemployer pension plans were $ 77 million , $ 58 million and $ 59 million , respectively .', 'in 2015 , 2014 and 2013 , the total contributions we made to multi- employer postretirement and other benefit plans were $ 119 million , $ 125 million and $ 98 million , respectively .', 'if we cease to be obligated to make contributions or were to otherwise withdraw from participation in any of these plans , applicable law would require us to fund our allocable share of the unfunded vested benefits , which is known as a withdrawal liability .', 'in addition , actions taken by other participating employers may lead to adverse changes in the financial condition of one of these plans , which could result in an increase in our withdrawal liability .', 'comcast 2015 annual report on form 10-k 166 .'] | ****************************************
Row 1: year ended december 31 ( in millions ), 2015, 2014, 2013
Row 2: benefit obligation, $ 417, $ 349, $ 250
Row 3: interest expense, $ 28, $ 24, $ 18
**************************************** | divide(28, 417) | 0.06715 |
what is the difference in percentage cumulative total shareowners return for united parcel service inc . versus the dow jones transportation average for the five years ended 12/31/2017? | Context: ['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 , 2012 in the standard & poor 2019s 500 index , the dow jones transportation average and our class b common stock. .']
----------
Tabular Data:
****************************************
| 12/31/2012 | 12/31/2013 | 12/31/2014 | 12/31/2015 | 12/31/2016 | 12/31/2017
----------|----------|----------|----------|----------|----------|----------
united parcel service inc . | $ 100.00 | $ 146.54 | $ 159.23 | $ 148.89 | $ 182.70 | $ 195.75
standard & poor 2019s 500 index | $ 100.00 | $ 132.38 | $ 150.49 | $ 152.55 | $ 170.79 | $ 208.06
dow jones transportation average | $ 100.00 | $ 141.38 | $ 176.83 | $ 147.19 | $ 179.37 | $ 213.49
****************************************
----------
Additional Information: ['.'] | -0.1774 | UPS/2017/page_31.pdf-3 | ['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 , 2012 in the standard & poor 2019s 500 index , the dow jones transportation average and our class b common stock. .'] | ['.'] | ****************************************
| 12/31/2012 | 12/31/2013 | 12/31/2014 | 12/31/2015 | 12/31/2016 | 12/31/2017
----------|----------|----------|----------|----------|----------|----------
united parcel service inc . | $ 100.00 | $ 146.54 | $ 159.23 | $ 148.89 | $ 182.70 | $ 195.75
standard & poor 2019s 500 index | $ 100.00 | $ 132.38 | $ 150.49 | $ 152.55 | $ 170.79 | $ 208.06
dow jones transportation average | $ 100.00 | $ 141.38 | $ 176.83 | $ 147.19 | $ 179.37 | $ 213.49
**************************************** | subtract(195.75, const_100), divide(#0, const_100), subtract(213.49, const_100), divide(#2, const_100), subtract(#1, #3) | -0.1774 |
what percentage of the revised allocation of net assets acquired is property , plant and equipment? | Pre-text: ['sacramento container acquisition in october 2017 , pca acquired substantially all of the assets of sacramento container corporation , and 100% ( 100 % ) of the membership interests of northern sheets , llc and central california sheets , llc ( collectively referred to as 201csacramento container 201d ) for a purchase price of $ 274 million , including working capital adjustments .', 'funding for the acquisition came from available cash on hand .', 'assets acquired include full-line corrugated products and sheet feeder operations in both mcclellan , california and kingsburg , california .', 'sacramento container provides packaging solutions to customers serving portions of california 2019s strong agricultural market .', 'sacramento container 2019s financial results are included in the packaging segment from the date of acquisition .', 'the company accounted for the sacramento container acquisition using the acquisition method of accounting in accordance with asc 805 , business combinations .', 'the total purchase price has been allocated to tangible and intangible assets acquired and liabilities assumed based on respective fair values , as follows ( dollars in millions ) : .']
####
Table:
****************************************
12/31/17 allocation adjustments revised allocation
goodwill $ 151.1 $ 5.5 $ 156.6
other intangible assets 72.6 -5.5 ( 5.5 ) 67.1
property plant and equipment 26.7 2014 26.7
other net assets 23.4 2014 23.4
net assets acquired $ 273.8 $ 2014 $ 273.8
****************************************
####
Additional Information: ['during the second quarter ended june 30 , 2018 , we made a $ 5.5 million net adjustment based on the final valuation of the intangible assets .', 'we recorded the adjustment as a decrease to other intangible assets with an offset to goodwill .', 'goodwill is calculated as the excess of the purchase price over the fair value of the net assets acquired .', 'among the factors that contributed to the recognition of goodwill were sacramento container 2019s commitment to continuous improvement and regional synergies , as well as the expected increases in pca 2019s containerboard integration levels .', 'goodwill is deductible for tax purposes .', 'other intangible assets , primarily customer relationships , were assigned an estimated weighted average useful life of 9.6 years .', 'property , plant and equipment were assigned estimated useful lives ranging from one to 13 years. .'] | 0.09752 | PKG/2018/page_66.pdf-2 | ['sacramento container acquisition in october 2017 , pca acquired substantially all of the assets of sacramento container corporation , and 100% ( 100 % ) of the membership interests of northern sheets , llc and central california sheets , llc ( collectively referred to as 201csacramento container 201d ) for a purchase price of $ 274 million , including working capital adjustments .', 'funding for the acquisition came from available cash on hand .', 'assets acquired include full-line corrugated products and sheet feeder operations in both mcclellan , california and kingsburg , california .', 'sacramento container provides packaging solutions to customers serving portions of california 2019s strong agricultural market .', 'sacramento container 2019s financial results are included in the packaging segment from the date of acquisition .', 'the company accounted for the sacramento container acquisition using the acquisition method of accounting in accordance with asc 805 , business combinations .', 'the total purchase price has been allocated to tangible and intangible assets acquired and liabilities assumed based on respective fair values , as follows ( dollars in millions ) : .'] | ['during the second quarter ended june 30 , 2018 , we made a $ 5.5 million net adjustment based on the final valuation of the intangible assets .', 'we recorded the adjustment as a decrease to other intangible assets with an offset to goodwill .', 'goodwill is calculated as the excess of the purchase price over the fair value of the net assets acquired .', 'among the factors that contributed to the recognition of goodwill were sacramento container 2019s commitment to continuous improvement and regional synergies , as well as the expected increases in pca 2019s containerboard integration levels .', 'goodwill is deductible for tax purposes .', 'other intangible assets , primarily customer relationships , were assigned an estimated weighted average useful life of 9.6 years .', 'property , plant and equipment were assigned estimated useful lives ranging from one to 13 years. .'] | ****************************************
12/31/17 allocation adjustments revised allocation
goodwill $ 151.1 $ 5.5 $ 156.6
other intangible assets 72.6 -5.5 ( 5.5 ) 67.1
property plant and equipment 26.7 2014 26.7
other net assets 23.4 2014 23.4
net assets acquired $ 273.8 $ 2014 $ 273.8
**************************************** | divide(26.7, 273.8) | 0.09752 |
in 2015 what was the net profit margin | Context: ['value using an appropriate discount rate .', 'projected cash flow is discounted at a required rate of return that reflects the relative risk of achieving the cash flow and the time value of money .', 'the market approach is a valuation technique that uses prices and other relevant information generated by market transactions involving identical or comparable assets , liabilities , or a group of assets and liabilities .', 'valuation techniques consistent with the market approach often use market multiples derived from a set of comparables .', 'the cost approach , which estimates value by determining the current cost of replacing an asset with another of equivalent economic utility , was used , as appropriate , for property , plant and equipment .', 'the cost to replace a given asset reflects the estimated reproduction or replacement cost for the property , less an allowance for loss in value due to depreciation .', 'the preliminary purchase price allocation resulted in the recognition of $ 2.8 billion of goodwill , all of which is expected to be amortizable for tax purposes .', 'all of the goodwill was assigned to our mst business segment .', 'the goodwill recognized is attributable to expected revenue synergies generated by the integration of our products and technologies with those of sikorsky , costs synergies resulting from the consolidation or elimination of certain functions , and intangible assets that do not qualify for separate recognition , such as the assembled workforce of sikorsky .', 'determining the fair value of assets acquired and liabilities assumed requires the exercise of significant judgments , including the amount and timing of expected future cash flows , long-term growth rates and discount rates .', 'the cash flows employed in the dcf analyses are based on our best estimate of future sales , earnings and cash flows after considering factors such as general market conditions , customer budgets , existing firm orders , expected future orders , contracts with suppliers , labor agreements , changes in working capital , long term business plans and recent operating performance .', 'use of different estimates and judgments could yield different results .', 'impact to 2015 financial results sikorsky 2019s financial results have been included in our consolidated financial results only for the period from the november 6 , 2015 acquisition date through december 31 , 2015 .', 'as a result , our consolidated financial results for the year ended december 31 , 2015 do not reflect a full year of sikorsky 2019s results .', 'from the november 6 , 2015 acquisition date through december 31 , 2015 , sikorsky generated net sales of approximately $ 400 million and operating loss of approximately $ 45 million , inclusive of intangible amortization and adjustments required to account for the acquisition .', 'we incurred approximately $ 38 million of non-recoverable transaction costs associated with the sikorsky acquisition in 2015 that were expensed as incurred .', 'these costs are included in 201cother income , net 201d on our consolidated statements of earnings .', 'we also incurred approximately $ 48 million in costs associated with issuing the $ 7.0 billion november 2015 notes used to repay all outstanding borrowings under the 364-day facility used to finance the acquisition .', 'the financing costs were recorded as a reduction of debt and will be amortized to interest expense over the term of the related debt .', 'supplemental pro forma financial information ( unaudited ) the following table presents summarized unaudited pro forma financial information as if sikorsky had been included in our financial results for the entire years in 2015 and 2014 ( in millions ) : .']
##
Data Table:
****************************************
| 2015 | 2014
----------|----------|----------
net sales | $ 50962 | $ 53023
net earnings from continuing operations | 3538 | 3480
basic earnings per common share from continuing operations | 11.40 | 10.99
diluted earnings per common share from continuing operations | 11.24 | 10.79
****************************************
##
Additional Information: ['the unaudited supplemental pro forma financial data above has been calculated after applying our accounting policies and adjusting the historical results of sikorsky with pro forma adjustments , net of tax , that assume the acquisition occurred on january 1 , 2014 .', 'significant pro forma adjustments include the recognition of additional amortization expense related to acquired intangible assets and additional interest expense related to the short-term debt used to finance the acquisition .', 'these adjustments assume the application of fair value adjustments to intangibles and the debt issuance occurred on january 1 , 2014 and are as follows : amortization expense of $ 125 million and $ 148 million in 2015 and 2014 , respectively ; and interest expense $ 42 million and $ 48 million in 2015 and 2014 , respectively .', 'in addition , significant nonrecurring adjustments include the elimination of a $ 72 million pension curtailment loss , net of tax , recognized in 2015 and the elimination of a $ 58 million income tax charge related to historic earnings of foreign subsidiaries recognized by sikorsky in 2015. .'] | 0.06942 | LMT/2015/page_89.pdf-1 | ['value using an appropriate discount rate .', 'projected cash flow is discounted at a required rate of return that reflects the relative risk of achieving the cash flow and the time value of money .', 'the market approach is a valuation technique that uses prices and other relevant information generated by market transactions involving identical or comparable assets , liabilities , or a group of assets and liabilities .', 'valuation techniques consistent with the market approach often use market multiples derived from a set of comparables .', 'the cost approach , which estimates value by determining the current cost of replacing an asset with another of equivalent economic utility , was used , as appropriate , for property , plant and equipment .', 'the cost to replace a given asset reflects the estimated reproduction or replacement cost for the property , less an allowance for loss in value due to depreciation .', 'the preliminary purchase price allocation resulted in the recognition of $ 2.8 billion of goodwill , all of which is expected to be amortizable for tax purposes .', 'all of the goodwill was assigned to our mst business segment .', 'the goodwill recognized is attributable to expected revenue synergies generated by the integration of our products and technologies with those of sikorsky , costs synergies resulting from the consolidation or elimination of certain functions , and intangible assets that do not qualify for separate recognition , such as the assembled workforce of sikorsky .', 'determining the fair value of assets acquired and liabilities assumed requires the exercise of significant judgments , including the amount and timing of expected future cash flows , long-term growth rates and discount rates .', 'the cash flows employed in the dcf analyses are based on our best estimate of future sales , earnings and cash flows after considering factors such as general market conditions , customer budgets , existing firm orders , expected future orders , contracts with suppliers , labor agreements , changes in working capital , long term business plans and recent operating performance .', 'use of different estimates and judgments could yield different results .', 'impact to 2015 financial results sikorsky 2019s financial results have been included in our consolidated financial results only for the period from the november 6 , 2015 acquisition date through december 31 , 2015 .', 'as a result , our consolidated financial results for the year ended december 31 , 2015 do not reflect a full year of sikorsky 2019s results .', 'from the november 6 , 2015 acquisition date through december 31 , 2015 , sikorsky generated net sales of approximately $ 400 million and operating loss of approximately $ 45 million , inclusive of intangible amortization and adjustments required to account for the acquisition .', 'we incurred approximately $ 38 million of non-recoverable transaction costs associated with the sikorsky acquisition in 2015 that were expensed as incurred .', 'these costs are included in 201cother income , net 201d on our consolidated statements of earnings .', 'we also incurred approximately $ 48 million in costs associated with issuing the $ 7.0 billion november 2015 notes used to repay all outstanding borrowings under the 364-day facility used to finance the acquisition .', 'the financing costs were recorded as a reduction of debt and will be amortized to interest expense over the term of the related debt .', 'supplemental pro forma financial information ( unaudited ) the following table presents summarized unaudited pro forma financial information as if sikorsky had been included in our financial results for the entire years in 2015 and 2014 ( in millions ) : .'] | ['the unaudited supplemental pro forma financial data above has been calculated after applying our accounting policies and adjusting the historical results of sikorsky with pro forma adjustments , net of tax , that assume the acquisition occurred on january 1 , 2014 .', 'significant pro forma adjustments include the recognition of additional amortization expense related to acquired intangible assets and additional interest expense related to the short-term debt used to finance the acquisition .', 'these adjustments assume the application of fair value adjustments to intangibles and the debt issuance occurred on january 1 , 2014 and are as follows : amortization expense of $ 125 million and $ 148 million in 2015 and 2014 , respectively ; and interest expense $ 42 million and $ 48 million in 2015 and 2014 , respectively .', 'in addition , significant nonrecurring adjustments include the elimination of a $ 72 million pension curtailment loss , net of tax , recognized in 2015 and the elimination of a $ 58 million income tax charge related to historic earnings of foreign subsidiaries recognized by sikorsky in 2015. .'] | ****************************************
| 2015 | 2014
----------|----------|----------
net sales | $ 50962 | $ 53023
net earnings from continuing operations | 3538 | 3480
basic earnings per common share from continuing operations | 11.40 | 10.99
diluted earnings per common share from continuing operations | 11.24 | 10.79
**************************************** | divide(3538, 50962) | 0.06942 |
what percentage of fiscal 2009 total net sales was due to commercial foods? | Context: ['credits and deductions identified in fiscal 2010 that related to prior periods .', 'these benefits were offset , in part , by unfavorable tax consequences of the patient protection and affordable care act and the health care and education reconciliation act of 2010 .', 'the company expects its effective tax rate in fiscal 2011 , exclusive of any unusual transactions or tax events , to be approximately 34% ( 34 % ) .', 'equity method investment earnings we include our share of the earnings of certain affiliates based on our economic ownership interest in the affiliates .', 'significant affiliates produce and market potato products for retail and foodservice customers .', 'our share of earnings from our equity method investments was $ 22 million ( $ 2 million in the consumer foods segment and $ 20 million in the commercial foods segment ) and $ 24 million ( $ 3 million in the consumer foods segment and $ 21 million in the commercial foods segment ) in fiscal 2010 and 2009 , respectively .', 'equity method investment earnings in the commercial foods segment reflects continued difficult market conditions for our foreign and domestic potato ventures .', 'results of discontinued operations our discontinued operations generated an after-tax loss of $ 22 million in fiscal 2010 and earnings of $ 361 million in fiscal 2009 .', 'in fiscal 2010 , we decided to divest our dehydrated vegetable operations .', 'as a result of this decision , we recognized an after-tax impairment charge of $ 40 million in fiscal 2010 , representing a write- down of the carrying value of the related long-lived assets to fair value , based on the anticipated sales proceeds .', 'in fiscal 2009 , we completed the sale of the trading and merchandising operations and recognized an after-tax gain on the disposition of approximately $ 301 million .', 'in the fourth quarter of fiscal 2009 , we decided to sell certain small foodservice brands .', 'the sale of these brands was completed in june 2009 .', 'we recognized after-tax impairment charges of $ 6 million in fiscal 2009 , in anticipation of this divestiture .', 'earnings per share our diluted earnings per share in fiscal 2010 were $ 1.62 ( including earnings of $ 1.67 per diluted share from continuing operations and a loss of $ 0.05 per diluted share from discontinued operations ) .', 'our diluted earnings per share in fiscal 2009 were $ 2.15 ( including earnings of $ 1.36 per diluted share from continuing operations and $ 0.79 per diluted share from discontinued operations ) see 201citems impacting comparability 201d above as several other significant items affected the comparability of year-over-year results of operations .', '2009 vs .', '2008 net sales ( $ in millions ) reporting segment fiscal 2009 net sales fiscal 2008 net sales % ( % ) increase .']
--
Data Table:
****************************************
reporting segment fiscal 2009 net sales fiscal 2008 net sales % ( % ) increase
consumer foods $ 7979 $ 7400 8% ( 8 % )
commercial foods 4447 3848 16% ( 16 % )
total $ 12426 $ 11248 11% ( 11 % )
****************************************
--
Additional Information: ['overall , our net sales increased $ 1.18 billion to $ 12.43 billion in fiscal 2009 , reflecting improved pricing and mix in the consumer foods segment and increased pricing in the milling and specialty potato operations of the commercial foods segment , as well as an additional week in fiscal 2009 .', 'consumer foods net sales for fiscal 2009 were $ 7.98 billion , an increase of 8% ( 8 % ) compared to fiscal 2008 .', 'results reflected an increase of 7% ( 7 % ) from improved net pricing and product mix and flat volume .', 'volume reflected a benefit of approximately 2% ( 2 % ) in fiscal 2009 due to the inclusion of an additional week of results .', 'the strengthening of the u.s .', 'dollar relative to foreign currencies resulted in a reduction of net sales of approximately 1% ( 1 % ) as compared to fiscal 2008. .'] | 0.35788 | CAG/2010/page_42.pdf-2 | ['credits and deductions identified in fiscal 2010 that related to prior periods .', 'these benefits were offset , in part , by unfavorable tax consequences of the patient protection and affordable care act and the health care and education reconciliation act of 2010 .', 'the company expects its effective tax rate in fiscal 2011 , exclusive of any unusual transactions or tax events , to be approximately 34% ( 34 % ) .', 'equity method investment earnings we include our share of the earnings of certain affiliates based on our economic ownership interest in the affiliates .', 'significant affiliates produce and market potato products for retail and foodservice customers .', 'our share of earnings from our equity method investments was $ 22 million ( $ 2 million in the consumer foods segment and $ 20 million in the commercial foods segment ) and $ 24 million ( $ 3 million in the consumer foods segment and $ 21 million in the commercial foods segment ) in fiscal 2010 and 2009 , respectively .', 'equity method investment earnings in the commercial foods segment reflects continued difficult market conditions for our foreign and domestic potato ventures .', 'results of discontinued operations our discontinued operations generated an after-tax loss of $ 22 million in fiscal 2010 and earnings of $ 361 million in fiscal 2009 .', 'in fiscal 2010 , we decided to divest our dehydrated vegetable operations .', 'as a result of this decision , we recognized an after-tax impairment charge of $ 40 million in fiscal 2010 , representing a write- down of the carrying value of the related long-lived assets to fair value , based on the anticipated sales proceeds .', 'in fiscal 2009 , we completed the sale of the trading and merchandising operations and recognized an after-tax gain on the disposition of approximately $ 301 million .', 'in the fourth quarter of fiscal 2009 , we decided to sell certain small foodservice brands .', 'the sale of these brands was completed in june 2009 .', 'we recognized after-tax impairment charges of $ 6 million in fiscal 2009 , in anticipation of this divestiture .', 'earnings per share our diluted earnings per share in fiscal 2010 were $ 1.62 ( including earnings of $ 1.67 per diluted share from continuing operations and a loss of $ 0.05 per diluted share from discontinued operations ) .', 'our diluted earnings per share in fiscal 2009 were $ 2.15 ( including earnings of $ 1.36 per diluted share from continuing operations and $ 0.79 per diluted share from discontinued operations ) see 201citems impacting comparability 201d above as several other significant items affected the comparability of year-over-year results of operations .', '2009 vs .', '2008 net sales ( $ in millions ) reporting segment fiscal 2009 net sales fiscal 2008 net sales % ( % ) increase .'] | ['overall , our net sales increased $ 1.18 billion to $ 12.43 billion in fiscal 2009 , reflecting improved pricing and mix in the consumer foods segment and increased pricing in the milling and specialty potato operations of the commercial foods segment , as well as an additional week in fiscal 2009 .', 'consumer foods net sales for fiscal 2009 were $ 7.98 billion , an increase of 8% ( 8 % ) compared to fiscal 2008 .', 'results reflected an increase of 7% ( 7 % ) from improved net pricing and product mix and flat volume .', 'volume reflected a benefit of approximately 2% ( 2 % ) in fiscal 2009 due to the inclusion of an additional week of results .', 'the strengthening of the u.s .', 'dollar relative to foreign currencies resulted in a reduction of net sales of approximately 1% ( 1 % ) as compared to fiscal 2008. .'] | ****************************************
reporting segment fiscal 2009 net sales fiscal 2008 net sales % ( % ) increase
consumer foods $ 7979 $ 7400 8% ( 8 % )
commercial foods 4447 3848 16% ( 16 % )
total $ 12426 $ 11248 11% ( 11 % )
**************************************** | divide(4447, 12426) | 0.35788 |
what was the total lifo provisions recorded by the successor from 2007 to 2008 in millions | Background: ['the contractual maturities of held-to-maturity securities as of january 30 , 2009 were in excess of three years and were $ 31.4 million at cost and $ 28.9 million at fair value , respectively .', 'for the successor year ended january 30 , 2009 and period ended february 1 , 2008 , and the predecessor period ended july 6 , 2007 and year ended february 2 , 2007 , gross realized gains and losses on the sales of available-for-sale securities were not material .', 'the cost of securities sold is based upon the specific identification method .', 'merchandise inventories inventories are stated at the lower of cost or market with cost determined using the retail last-in , first-out ( 201clifo 201d ) method .', 'under the company 2019s retail inventory method ( 201crim 201d ) , the calculation of gross profit and the resulting valuation of inventories at cost are computed by applying a calculated cost-to-retail inventory ratio to the retail value of sales at a department level .', 'costs directly associated with warehousing and distribution are capitalized into inventory .', 'the excess of current cost over lifo cost was approximately $ 50.0 million at january 30 , 2009 and $ 6.1 million at february 1 , 2008 .', 'current cost is determined using the retail first-in , first-out method .', 'the company 2019s lifo reserves were adjusted to zero at july 6 , 2007 as a result of the merger .', 'the successor recorded lifo provisions of $ 43.9 million and $ 6.1 million during 2008 and 2007 , respectively .', 'the predecessor recorded a lifo credit of $ 1.5 million in 2006 .', 'in 2008 , the increased commodity cost pressures mainly related to food and pet products which have been driven by fruit and vegetable prices and rising freight costs .', 'increases in petroleum , resin , metals , pulp and other raw material commodity driven costs also resulted in multiple product cost increases .', 'the company intends to address these commodity cost increases through negotiations with its vendors and by increasing retail prices as necessary .', 'on a quarterly basis , the company estimates the annual impact of commodity cost fluctuations based upon the best available information at that point in time .', 'store pre-opening costs pre-opening costs related to new store openings and the construction periods are expensed as incurred .', 'property and equipment property and equipment are recorded at cost .', 'the company provides for depreciation and amortization on a straight-line basis over the following estimated useful lives: .']
Data Table:
****************************************
land improvements, 20
buildings, 39-40
furniture fixtures and equipment, 3-10
****************************************
Post-table: ['improvements of leased properties are amortized over the shorter of the life of the applicable lease term or the estimated useful life of the asset. .'] | 50.0 | DG/2008/page_73.pdf-1 | ['the contractual maturities of held-to-maturity securities as of january 30 , 2009 were in excess of three years and were $ 31.4 million at cost and $ 28.9 million at fair value , respectively .', 'for the successor year ended january 30 , 2009 and period ended february 1 , 2008 , and the predecessor period ended july 6 , 2007 and year ended february 2 , 2007 , gross realized gains and losses on the sales of available-for-sale securities were not material .', 'the cost of securities sold is based upon the specific identification method .', 'merchandise inventories inventories are stated at the lower of cost or market with cost determined using the retail last-in , first-out ( 201clifo 201d ) method .', 'under the company 2019s retail inventory method ( 201crim 201d ) , the calculation of gross profit and the resulting valuation of inventories at cost are computed by applying a calculated cost-to-retail inventory ratio to the retail value of sales at a department level .', 'costs directly associated with warehousing and distribution are capitalized into inventory .', 'the excess of current cost over lifo cost was approximately $ 50.0 million at january 30 , 2009 and $ 6.1 million at february 1 , 2008 .', 'current cost is determined using the retail first-in , first-out method .', 'the company 2019s lifo reserves were adjusted to zero at july 6 , 2007 as a result of the merger .', 'the successor recorded lifo provisions of $ 43.9 million and $ 6.1 million during 2008 and 2007 , respectively .', 'the predecessor recorded a lifo credit of $ 1.5 million in 2006 .', 'in 2008 , the increased commodity cost pressures mainly related to food and pet products which have been driven by fruit and vegetable prices and rising freight costs .', 'increases in petroleum , resin , metals , pulp and other raw material commodity driven costs also resulted in multiple product cost increases .', 'the company intends to address these commodity cost increases through negotiations with its vendors and by increasing retail prices as necessary .', 'on a quarterly basis , the company estimates the annual impact of commodity cost fluctuations based upon the best available information at that point in time .', 'store pre-opening costs pre-opening costs related to new store openings and the construction periods are expensed as incurred .', 'property and equipment property and equipment are recorded at cost .', 'the company provides for depreciation and amortization on a straight-line basis over the following estimated useful lives: .'] | ['improvements of leased properties are amortized over the shorter of the life of the applicable lease term or the estimated useful life of the asset. .'] | ****************************************
land improvements, 20
buildings, 39-40
furniture fixtures and equipment, 3-10
**************************************** | add(43.9, 6.1) | 50.0 |
what percent of net sales in fiscal 2014 where due to private brands? | Pre-text: ['equity method investment earnings we include our share of the earnings of certain affiliates based on our economic ownership interest in the affiliates .', 'significant affiliates include the ardent mills joint venture and affiliates that produce and market potato products for retail and foodservice customers .', 'our share of earnings from our equity method investments was $ 122.1 million ( $ 119.1 million in the commercial foods segment and $ 3.0 million in the consumer foods segment ) and $ 32.5 million ( $ 29.7 million in the commercial foods segment and $ 2.8 million in the consumer foods segment ) in fiscal 2015 and 2014 , respectively .', 'the increase in fiscal 2015 compared to fiscal 2014 reflects the earnings from the ardent mills joint venture as well as higher profits for an international potato joint venture .', 'the earnings from the ardent mills joint venture reflect results for 11 months of operations , as we recognize earnings on a one-month lag , due to differences in fiscal year periods .', 'in fiscal 2014 , earnings also reflected a $ 3.4 million charge reflecting the year-end write-off of actuarial losses in excess of 10% ( 10 % ) of the pension liability for an international potato venture .', 'results of discontinued operations our discontinued operations generated after-tax income of $ 366.6 million and $ 141.4 million in fiscal 2015 and 2014 , respectively .', 'the results of discontinued operations for fiscal 2015 include a pre-tax gain of $ 625.6 million ( $ 379.6 million after-tax ) recognized on the formation of the ardent mills joint venture .', 'the results for fiscal 2014 reflect a pre-tax gain of $ 90.0 million ( $ 55.7 million after-tax ) related to the disposition of three flour milling facilities as part of the ardent mills formation .', 'in fiscal 2014 , we also completed the sale of a small snack business , medallion foods , for $ 32.0 million in cash .', 'we recognized an after-tax loss of $ 3.5 million on the sale of this business in fiscal 2014 .', 'in fiscal 2014 , we recognized an impairment charge related to allocated amounts of goodwill and intangible assets , totaling $ 15.2 million after-tax , in anticipation of this divestiture .', 'we also completed the sale of the assets of the lightlife ae business for $ 54.7 million in cash .', 'we recognized an after-tax gain of $ 19.8 million on the sale of this business in fiscal 2014 .', 'earnings ( loss ) per share diluted loss per share in fiscal 2015 was $ 0.60 , including a loss of $ 1.46 per diluted share from continuing operations and earnings of $ 0.86 per diluted share from discontinued operations .', 'diluted earnings per share in fiscal 2014 were $ 0.70 , including $ 0.37 per diluted share from continuing operations and $ 0.33 per diluted share from discontinued operations .', 'see 201citems impacting comparability 201d above as several significant items affected the comparability of year-over-year results of operations .', 'fiscal 2014 compared to fiscal 2013 net sales ( $ in millions ) reporting segment fiscal 2014 net sales fiscal 2013 net sales .']
Table:
----------------------------------------
• ( $ in millions ) reporting segment, fiscal 2014 net sales, fiscal 2013 net sales, % ( % ) inc ( dec )
• consumer foods, 7315.7, 7551.4, ( 3 ) % ( % )
• commercial foods, 4332.2, 4109.7, 5% ( 5 % )
• private brands, 4195.7, 1808.2, 132% ( 132 % )
• total, $ 15843.6, $ 13469.3, 18% ( 18 % )
----------------------------------------
Post-table: ['overall , our net sales increased $ 2.37 billion to $ 15.84 billion in fiscal 2014 compared to fiscal 2013 , primarily related to the acquisition of ralcorp .', 'consumer foods net sales for fiscal 2014 were $ 7.32 billion , a decrease of $ 235.7 million , or 3% ( 3 % ) , compared to fiscal 2013 .', 'results reflected a 3% ( 3 % ) decrease in volume performance and a 1% ( 1 % ) decrease due to the impact of foreign exchange rates , partially offset by a 1% ( 1 % ) increase in price/mix .', 'volume performance from our base businesses for fiscal 2014 was impacted negatively by competitor promotional activity .', 'significant slotting and promotion investments related to new product launches , particularly in the first quarter , also weighed heavily on net sales in fiscal 2014 .', 'in addition , certain shipments planned for the fourth quarter of fiscal 2014 were shifted to the first quarter of fiscal 2015 as a result of change in timing of retailer promotions and this negatively impacted volume performance. .'] | 0.26482 | CAG/2015/page_28.pdf-2 | ['equity method investment earnings we include our share of the earnings of certain affiliates based on our economic ownership interest in the affiliates .', 'significant affiliates include the ardent mills joint venture and affiliates that produce and market potato products for retail and foodservice customers .', 'our share of earnings from our equity method investments was $ 122.1 million ( $ 119.1 million in the commercial foods segment and $ 3.0 million in the consumer foods segment ) and $ 32.5 million ( $ 29.7 million in the commercial foods segment and $ 2.8 million in the consumer foods segment ) in fiscal 2015 and 2014 , respectively .', 'the increase in fiscal 2015 compared to fiscal 2014 reflects the earnings from the ardent mills joint venture as well as higher profits for an international potato joint venture .', 'the earnings from the ardent mills joint venture reflect results for 11 months of operations , as we recognize earnings on a one-month lag , due to differences in fiscal year periods .', 'in fiscal 2014 , earnings also reflected a $ 3.4 million charge reflecting the year-end write-off of actuarial losses in excess of 10% ( 10 % ) of the pension liability for an international potato venture .', 'results of discontinued operations our discontinued operations generated after-tax income of $ 366.6 million and $ 141.4 million in fiscal 2015 and 2014 , respectively .', 'the results of discontinued operations for fiscal 2015 include a pre-tax gain of $ 625.6 million ( $ 379.6 million after-tax ) recognized on the formation of the ardent mills joint venture .', 'the results for fiscal 2014 reflect a pre-tax gain of $ 90.0 million ( $ 55.7 million after-tax ) related to the disposition of three flour milling facilities as part of the ardent mills formation .', 'in fiscal 2014 , we also completed the sale of a small snack business , medallion foods , for $ 32.0 million in cash .', 'we recognized an after-tax loss of $ 3.5 million on the sale of this business in fiscal 2014 .', 'in fiscal 2014 , we recognized an impairment charge related to allocated amounts of goodwill and intangible assets , totaling $ 15.2 million after-tax , in anticipation of this divestiture .', 'we also completed the sale of the assets of the lightlife ae business for $ 54.7 million in cash .', 'we recognized an after-tax gain of $ 19.8 million on the sale of this business in fiscal 2014 .', 'earnings ( loss ) per share diluted loss per share in fiscal 2015 was $ 0.60 , including a loss of $ 1.46 per diluted share from continuing operations and earnings of $ 0.86 per diluted share from discontinued operations .', 'diluted earnings per share in fiscal 2014 were $ 0.70 , including $ 0.37 per diluted share from continuing operations and $ 0.33 per diluted share from discontinued operations .', 'see 201citems impacting comparability 201d above as several significant items affected the comparability of year-over-year results of operations .', 'fiscal 2014 compared to fiscal 2013 net sales ( $ in millions ) reporting segment fiscal 2014 net sales fiscal 2013 net sales .'] | ['overall , our net sales increased $ 2.37 billion to $ 15.84 billion in fiscal 2014 compared to fiscal 2013 , primarily related to the acquisition of ralcorp .', 'consumer foods net sales for fiscal 2014 were $ 7.32 billion , a decrease of $ 235.7 million , or 3% ( 3 % ) , compared to fiscal 2013 .', 'results reflected a 3% ( 3 % ) decrease in volume performance and a 1% ( 1 % ) decrease due to the impact of foreign exchange rates , partially offset by a 1% ( 1 % ) increase in price/mix .', 'volume performance from our base businesses for fiscal 2014 was impacted negatively by competitor promotional activity .', 'significant slotting and promotion investments related to new product launches , particularly in the first quarter , also weighed heavily on net sales in fiscal 2014 .', 'in addition , certain shipments planned for the fourth quarter of fiscal 2014 were shifted to the first quarter of fiscal 2015 as a result of change in timing of retailer promotions and this negatively impacted volume performance. .'] | ----------------------------------------
• ( $ in millions ) reporting segment, fiscal 2014 net sales, fiscal 2013 net sales, % ( % ) inc ( dec )
• consumer foods, 7315.7, 7551.4, ( 3 ) % ( % )
• commercial foods, 4332.2, 4109.7, 5% ( 5 % )
• private brands, 4195.7, 1808.2, 132% ( 132 % )
• total, $ 15843.6, $ 13469.3, 18% ( 18 % )
---------------------------------------- | divide(4195.7, 15843.6) | 0.26482 |
in 2011 what was the percent change in the general and administrative expenses | Pre-text: ['32| | duke realty corporation annual report 2012 2022 in 2010 , we sold approximately 60 acres of land , in two separate transactions , which resulted in impairment charges of $ 9.8 million .', 'these sales were opportunistic in nature and we had not identified or actively marketed this land for disposition , as it was previously intended to be held for development .', 'general and administrative expenses general and administrative expenses increased from $ 41.3 million in 2010 to $ 43.1 million in 2011 .', 'the following table sets forth the factors that led to the increase in general and administrative expenses from 2010 to 2011 ( in millions ) : .']
##########
Data Table:
----------------------------------------
general and administrative expenses - 2010 | $ 41.3
increase to overall pool of overhead costs ( 1 ) | 5.7
increased absorption of costs by wholly-owned development and leasing activities ( 2 ) | -3.7 ( 3.7 )
increased allocation of costs to service operations and rental operations | -0.2 ( 0.2 )
general and administrative expenses - 2011 | $ 43.1
----------------------------------------
##########
Additional Information: ['interest expense interest expense from continuing operations increased from $ 186.4 million in 2010 to $ 220.5 million in 2011 .', 'the increase was primarily a result of increased average outstanding debt during 2011 compared to 2010 , which was driven by our acquisition activities as well as other uses of capital .', 'a $ 7.2 million decrease in the capitalization of interest costs , the result of developed properties no longer meeting the criteria for interest capitalization , also contributed to the increase in interest expense .', 'gain ( loss ) on debt transactions there were no gains or losses on debt transactions during 2011 .', 'during 2010 , through a cash tender offer and open market transactions , we repurchased certain of our outstanding series of unsecured notes scheduled to mature in 2011 and 2013 .', 'in total , we paid $ 292.2 million for unsecured notes that had a face value of $ 279.9 million .', 'we recognized a net loss on extinguishment of $ 16.3 million after considering the write-off of unamortized deferred financing costs , discounts and other accounting adjustments .', 'acquisition-related activity during 2011 , we recognized approximately $ 2.3 million in acquisition costs , compared to $ 1.9 million of such costs in 2010 .', 'during 2011 , we also recognized a $ 1.1 million gain related to the acquisition of a building from one of our 50%-owned unconsolidated joint ventures , compared to a $ 57.7 million gain in 2010 on the acquisition of our joint venture partner 2019s 50% ( 50 % ) interest in dugan .', 'critical accounting policies the preparation of our consolidated financial statements in conformity with gaap requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reported period .', 'our estimates , judgments and assumptions are inherently subjective and based on the existing business and market conditions , and are therefore continually evaluated based upon available information and experience .', 'note 2 to the consolidated financial statements includes further discussion of our significant accounting policies .', 'our management has assessed the accounting policies used in the preparation of our financial statements and discussed them with our audit committee and independent auditors .', 'the following accounting policies are considered critical based upon materiality to the financial statements , degree of judgment involved in estimating reported amounts and sensitivity to changes in industry and economic conditions : ( 1 ) the increase to our overall pool of overhead costs from 2010 is largely due to increased severance pay related to overhead reductions that took place near the end of 2011 .', '( 2 ) our total leasing activity increased and we also increased wholly owned development activities from 2010 .', 'we capitalized $ 25.3 million and $ 10.4 million of our total overhead costs to leasing and development , respectively , for consolidated properties during 2011 , compared to capitalizing $ 23.5 million and $ 8.5 million of such costs , respectively , for 2010 .', 'combined overhead costs capitalized to leasing and development totaled 20.6% ( 20.6 % ) and 19.1% ( 19.1 % ) of our overall pool of overhead costs for 2011 and 2010 , respectively. .'] | 1.8 | DRE/2012/page_34.pdf-2 | ['32| | duke realty corporation annual report 2012 2022 in 2010 , we sold approximately 60 acres of land , in two separate transactions , which resulted in impairment charges of $ 9.8 million .', 'these sales were opportunistic in nature and we had not identified or actively marketed this land for disposition , as it was previously intended to be held for development .', 'general and administrative expenses general and administrative expenses increased from $ 41.3 million in 2010 to $ 43.1 million in 2011 .', 'the following table sets forth the factors that led to the increase in general and administrative expenses from 2010 to 2011 ( in millions ) : .'] | ['interest expense interest expense from continuing operations increased from $ 186.4 million in 2010 to $ 220.5 million in 2011 .', 'the increase was primarily a result of increased average outstanding debt during 2011 compared to 2010 , which was driven by our acquisition activities as well as other uses of capital .', 'a $ 7.2 million decrease in the capitalization of interest costs , the result of developed properties no longer meeting the criteria for interest capitalization , also contributed to the increase in interest expense .', 'gain ( loss ) on debt transactions there were no gains or losses on debt transactions during 2011 .', 'during 2010 , through a cash tender offer and open market transactions , we repurchased certain of our outstanding series of unsecured notes scheduled to mature in 2011 and 2013 .', 'in total , we paid $ 292.2 million for unsecured notes that had a face value of $ 279.9 million .', 'we recognized a net loss on extinguishment of $ 16.3 million after considering the write-off of unamortized deferred financing costs , discounts and other accounting adjustments .', 'acquisition-related activity during 2011 , we recognized approximately $ 2.3 million in acquisition costs , compared to $ 1.9 million of such costs in 2010 .', 'during 2011 , we also recognized a $ 1.1 million gain related to the acquisition of a building from one of our 50%-owned unconsolidated joint ventures , compared to a $ 57.7 million gain in 2010 on the acquisition of our joint venture partner 2019s 50% ( 50 % ) interest in dugan .', 'critical accounting policies the preparation of our consolidated financial statements in conformity with gaap requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reported period .', 'our estimates , judgments and assumptions are inherently subjective and based on the existing business and market conditions , and are therefore continually evaluated based upon available information and experience .', 'note 2 to the consolidated financial statements includes further discussion of our significant accounting policies .', 'our management has assessed the accounting policies used in the preparation of our financial statements and discussed them with our audit committee and independent auditors .', 'the following accounting policies are considered critical based upon materiality to the financial statements , degree of judgment involved in estimating reported amounts and sensitivity to changes in industry and economic conditions : ( 1 ) the increase to our overall pool of overhead costs from 2010 is largely due to increased severance pay related to overhead reductions that took place near the end of 2011 .', '( 2 ) our total leasing activity increased and we also increased wholly owned development activities from 2010 .', 'we capitalized $ 25.3 million and $ 10.4 million of our total overhead costs to leasing and development , respectively , for consolidated properties during 2011 , compared to capitalizing $ 23.5 million and $ 8.5 million of such costs , respectively , for 2010 .', 'combined overhead costs capitalized to leasing and development totaled 20.6% ( 20.6 % ) and 19.1% ( 19.1 % ) of our overall pool of overhead costs for 2011 and 2010 , respectively. .'] | ----------------------------------------
general and administrative expenses - 2010 | $ 41.3
increase to overall pool of overhead costs ( 1 ) | 5.7
increased absorption of costs by wholly-owned development and leasing activities ( 2 ) | -3.7 ( 3.7 )
increased allocation of costs to service operations and rental operations | -0.2 ( 0.2 )
general and administrative expenses - 2011 | $ 43.1
---------------------------------------- | subtract(43.1, 41.3) | 1.8 |
in 2006 , what percent of unrealized loss did foreign currency translation offset? | Background: ['defined by fin 46 ( r ) , as a result of the issuance of subordinated notes by the conduits to third-party investors , and we do not record these conduits in our consolidated financial statements .', 'at december 31 , 2006 and 2005 , total assets in unconsolidated conduits were $ 25.25 billion and $ 17.90 billion , respectively .', 'our off-balance sheet commitments to these conduits are disclosed in note 10 .', 'collateralized debt obligations : we manage a series of collateralized debt obligations , or 201ccdos . 201d a cdo is a managed investment vehicle which purchases a portfolio of diversified highly-rated assets .', 'a cdo funds purchases through the issuance of several tranches of debt and equity , the repayment and return of which are linked to the performance of the assets in the cdo .', 'typically , our involvement is as collateral manager .', 'we may also invest in a small percentage of the debt issued .', 'these entities typically meet the definition of a variable interest entity as defined by fin 46 ( r ) .', 'we are not the primary beneficiary of these cdos , as defined by fin 46 ( r ) , and do not record these cdos in our consolidated financial statements .', 'at december 31 , 2006 and 2005 , total assets in these cdos were $ 3.48 billion and $ 2.73 billion , respectively .', 'during 2005 , we acquired and transferred $ 60 million of investment securities from our available-for- sale portfolio into a cdo .', 'this transfer , which was executed at fair market value in exchange for cash , was treated as a sale .', 'we did not acquire or transfer any investment securities to a cdo during 2006 .', 'note 12 .', 'shareholders 2019 equity treasury stock : during the first quarter of 2006 , we purchased 3 million shares of our common stock under a program authorized by our board of directors , or 201cboard , 201d in 2005 .', 'on march 16 , 2006 , the board authorized a new program for the purchase of up to 15 million shares of our common stock for general corporate purposes , including mitigating the dilutive impact of shares issued under employee benefit programs , and terminated the 2005 program .', 'under this new program , we purchased 2.8 million shares of our common stock during 2006 , and as of december 31 , 2006 , 12.2 million shares were available for purchase .', 'we utilize third-party broker-dealers to acquire common shares on the open market in the execution of our stock purchase program .', 'in addition , shares may be acquired for other deferred compensation plans , held by an external trustee , that are not part of the common stock purchase program .', 'as of december 31 , 2006 , on a cumulative basis , approximately 395000 shares have been purchased and are held in trust .', 'these shares are recorded as treasury stock in our consolidated statement of condition .', 'during 2006 , 2005 and 2004 , we purchased and recorded as treasury stock a total of 5.8 million shares , 13.1 million shares and 4.1 million shares , respectively , at an average historical cost per share of $ 63 , $ 51 and $ 43 , respectively .', 'accumulated other comprehensive ( loss ) income: .']
----
Table:
****************************************
( in millions ) 2006 2005 2004
foreign currency translation $ 197 $ 73 $ 213
unrealized gain ( loss ) on hedges of net investments in non-u.s . subsidiaries -7 ( 7 ) 11 -26 ( 26 )
unrealized loss on available-for-sale securities -227 ( 227 ) -285 ( 285 ) -56 ( 56 )
minimum pension liability -186 ( 186 ) -26 ( 26 ) -26 ( 26 )
unrealized loss on cash flow hedges -1 ( 1 ) -4 ( 4 ) -13 ( 13 )
total $ -224 ( 224 ) $ -231 ( 231 ) $ 92
****************************************
----
Follow-up: ['for the year ended december 31 , 2006 , we realized net gains of $ 15 million on sales of available-for- sale securities .', 'unrealized losses of $ 7 million were included in other comprehensive income at december 31 , 2005 , net of deferred taxes of $ 4 million , related to these sales .', 'seq 86 copyarea : 38 .', 'x 54 .', 'trimsize : 8.25 x 10.75 typeset state street corporation serverprocess c:\\\\fc\\\\delivery_1024177\\\\2771-1-dm_p.pdf chksum : 0 cycle 1merrill corporation 07-2771-1 thu mar 01 17:10:46 2007 ( v 2.247w--stp1pae18 ) .'] | 0.86784 | STT/2006/page_95.pdf-2 | ['defined by fin 46 ( r ) , as a result of the issuance of subordinated notes by the conduits to third-party investors , and we do not record these conduits in our consolidated financial statements .', 'at december 31 , 2006 and 2005 , total assets in unconsolidated conduits were $ 25.25 billion and $ 17.90 billion , respectively .', 'our off-balance sheet commitments to these conduits are disclosed in note 10 .', 'collateralized debt obligations : we manage a series of collateralized debt obligations , or 201ccdos . 201d a cdo is a managed investment vehicle which purchases a portfolio of diversified highly-rated assets .', 'a cdo funds purchases through the issuance of several tranches of debt and equity , the repayment and return of which are linked to the performance of the assets in the cdo .', 'typically , our involvement is as collateral manager .', 'we may also invest in a small percentage of the debt issued .', 'these entities typically meet the definition of a variable interest entity as defined by fin 46 ( r ) .', 'we are not the primary beneficiary of these cdos , as defined by fin 46 ( r ) , and do not record these cdos in our consolidated financial statements .', 'at december 31 , 2006 and 2005 , total assets in these cdos were $ 3.48 billion and $ 2.73 billion , respectively .', 'during 2005 , we acquired and transferred $ 60 million of investment securities from our available-for- sale portfolio into a cdo .', 'this transfer , which was executed at fair market value in exchange for cash , was treated as a sale .', 'we did not acquire or transfer any investment securities to a cdo during 2006 .', 'note 12 .', 'shareholders 2019 equity treasury stock : during the first quarter of 2006 , we purchased 3 million shares of our common stock under a program authorized by our board of directors , or 201cboard , 201d in 2005 .', 'on march 16 , 2006 , the board authorized a new program for the purchase of up to 15 million shares of our common stock for general corporate purposes , including mitigating the dilutive impact of shares issued under employee benefit programs , and terminated the 2005 program .', 'under this new program , we purchased 2.8 million shares of our common stock during 2006 , and as of december 31 , 2006 , 12.2 million shares were available for purchase .', 'we utilize third-party broker-dealers to acquire common shares on the open market in the execution of our stock purchase program .', 'in addition , shares may be acquired for other deferred compensation plans , held by an external trustee , that are not part of the common stock purchase program .', 'as of december 31 , 2006 , on a cumulative basis , approximately 395000 shares have been purchased and are held in trust .', 'these shares are recorded as treasury stock in our consolidated statement of condition .', 'during 2006 , 2005 and 2004 , we purchased and recorded as treasury stock a total of 5.8 million shares , 13.1 million shares and 4.1 million shares , respectively , at an average historical cost per share of $ 63 , $ 51 and $ 43 , respectively .', 'accumulated other comprehensive ( loss ) income: .'] | ['for the year ended december 31 , 2006 , we realized net gains of $ 15 million on sales of available-for- sale securities .', 'unrealized losses of $ 7 million were included in other comprehensive income at december 31 , 2005 , net of deferred taxes of $ 4 million , related to these sales .', 'seq 86 copyarea : 38 .', 'x 54 .', 'trimsize : 8.25 x 10.75 typeset state street corporation serverprocess c:\\\\fc\\\\delivery_1024177\\\\2771-1-dm_p.pdf chksum : 0 cycle 1merrill corporation 07-2771-1 thu mar 01 17:10:46 2007 ( v 2.247w--stp1pae18 ) .'] | ****************************************
( in millions ) 2006 2005 2004
foreign currency translation $ 197 $ 73 $ 213
unrealized gain ( loss ) on hedges of net investments in non-u.s . subsidiaries -7 ( 7 ) 11 -26 ( 26 )
unrealized loss on available-for-sale securities -227 ( 227 ) -285 ( 285 ) -56 ( 56 )
minimum pension liability -186 ( 186 ) -26 ( 26 ) -26 ( 26 )
unrealized loss on cash flow hedges -1 ( 1 ) -4 ( 4 ) -13 ( 13 )
total $ -224 ( 224 ) $ -231 ( 231 ) $ 92
**************************************** | divide(197, 227) | 0.86784 |
what is the maximum variance during the quarter ended in september 31 , 2005? | Background: ['item 4 .', 'submission of matters to a vote of security holders no matters were submitted to a vote of security holders during the fourth quarter of 2005 .', 'part ii item 5 .', 'market for the registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities market information our series a common stock has traded on the new york stock exchange under the symbol 2018 2018ce 2019 2019 since january 21 , 2005 .', 'the closing sale price of our series a common stock , as reported by the new york stock exchange , on march 6 , 2006 was $ 20.98 .', 'the following table sets forth the high and low intraday sales prices per share of our common stock , as reported by the new york stock exchange , for the periods indicated. .']
Data Table:
========================================
2005 | pricerange high | pricerange low
quarterended march 312005 | $ 18.65 | $ 15.10
quarter endedjune 302005 | $ 18.16 | $ 13.54
quarter endedseptember 30 2005 | $ 20.06 | $ 15.88
quarter endeddecember 312005 | $ 19.76 | $ 15.58
========================================
Post-table: ['holders no shares of celanese 2019s series b common stock are issued and outstanding .', 'as of march 6 , 2006 , there were 51 holders of record of our series a common stock , and one holder of record of our perpetual preferred stock .', 'by including persons holding shares in broker accounts under street names , however , we estimate our shareholder base to be approximately 6800 as of march 6 , 2006 .', 'dividend policy in july 2005 , our board of directors adopted a policy of declaring , subject to legally available funds , a quarterly cash dividend on each share of our common stock at an annual rate initially equal to approximately 1% ( 1 % ) of the $ 16 price per share in the initial public offering of our series a common stock ( or $ 0.16 per share ) unless our board of directors , in its sole discretion , determines otherwise , commencing the second quarter of 2005 .', 'pursuant to this policy , the company paid the quarterly dividends of $ 0.04 per share on august 11 , 2005 , november 1 , 2005 and february 1 , 2006 .', 'based on the number of outstanding shares of our series a common stock , the anticipated annual cash dividend is approximately $ 25 million .', 'however , there is no assurance that sufficient cash will be available in the future to pay such dividend .', 'further , such dividends payable to holders of our series a common stock cannot be declared or paid nor can any funds be set aside for the payment thereof , unless we have paid or set aside funds for the payment of all accumulated and unpaid dividends with respect to the shares of our preferred stock , as described below .', 'our board of directors may , at any time , modify or revoke our dividend policy on our series a common stock .', 'we are required under the terms of the preferred stock to pay scheduled quarterly dividends , subject to legally available funds .', 'for so long as the preferred stock remains outstanding , ( 1 ) we will not declare , pay or set apart funds for the payment of any dividend or other distribution with respect to any junior stock or parity stock and ( 2 ) neither we , nor any of our subsidiaries , will , subject to certain exceptions , redeem , purchase or otherwise acquire for consideration junior stock or parity stock through a sinking fund or otherwise , in each case unless we have paid or set apart funds for the payment of all accumulated and unpaid dividends with respect to the shares of preferred stock and any parity stock for all preceding dividend periods .', 'pursuant to this policy , the company paid the quarterly dividends of $ 0.265625 on its 4.25% ( 4.25 % ) convertible perpetual preferred stock on august 1 , 2005 , november 1 , 2005 and february 1 , 2006 .', 'the anticipated annual cash dividend is approximately $ 10 million. .'] | 4.18 | CE/2005/page_56.pdf-2 | ['item 4 .', 'submission of matters to a vote of security holders no matters were submitted to a vote of security holders during the fourth quarter of 2005 .', 'part ii item 5 .', 'market for the registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities market information our series a common stock has traded on the new york stock exchange under the symbol 2018 2018ce 2019 2019 since january 21 , 2005 .', 'the closing sale price of our series a common stock , as reported by the new york stock exchange , on march 6 , 2006 was $ 20.98 .', 'the following table sets forth the high and low intraday sales prices per share of our common stock , as reported by the new york stock exchange , for the periods indicated. .'] | ['holders no shares of celanese 2019s series b common stock are issued and outstanding .', 'as of march 6 , 2006 , there were 51 holders of record of our series a common stock , and one holder of record of our perpetual preferred stock .', 'by including persons holding shares in broker accounts under street names , however , we estimate our shareholder base to be approximately 6800 as of march 6 , 2006 .', 'dividend policy in july 2005 , our board of directors adopted a policy of declaring , subject to legally available funds , a quarterly cash dividend on each share of our common stock at an annual rate initially equal to approximately 1% ( 1 % ) of the $ 16 price per share in the initial public offering of our series a common stock ( or $ 0.16 per share ) unless our board of directors , in its sole discretion , determines otherwise , commencing the second quarter of 2005 .', 'pursuant to this policy , the company paid the quarterly dividends of $ 0.04 per share on august 11 , 2005 , november 1 , 2005 and february 1 , 2006 .', 'based on the number of outstanding shares of our series a common stock , the anticipated annual cash dividend is approximately $ 25 million .', 'however , there is no assurance that sufficient cash will be available in the future to pay such dividend .', 'further , such dividends payable to holders of our series a common stock cannot be declared or paid nor can any funds be set aside for the payment thereof , unless we have paid or set aside funds for the payment of all accumulated and unpaid dividends with respect to the shares of our preferred stock , as described below .', 'our board of directors may , at any time , modify or revoke our dividend policy on our series a common stock .', 'we are required under the terms of the preferred stock to pay scheduled quarterly dividends , subject to legally available funds .', 'for so long as the preferred stock remains outstanding , ( 1 ) we will not declare , pay or set apart funds for the payment of any dividend or other distribution with respect to any junior stock or parity stock and ( 2 ) neither we , nor any of our subsidiaries , will , subject to certain exceptions , redeem , purchase or otherwise acquire for consideration junior stock or parity stock through a sinking fund or otherwise , in each case unless we have paid or set apart funds for the payment of all accumulated and unpaid dividends with respect to the shares of preferred stock and any parity stock for all preceding dividend periods .', 'pursuant to this policy , the company paid the quarterly dividends of $ 0.265625 on its 4.25% ( 4.25 % ) convertible perpetual preferred stock on august 1 , 2005 , november 1 , 2005 and february 1 , 2006 .', 'the anticipated annual cash dividend is approximately $ 10 million. .'] | ========================================
2005 | pricerange high | pricerange low
quarterended march 312005 | $ 18.65 | $ 15.10
quarter endedjune 302005 | $ 18.16 | $ 13.54
quarter endedseptember 30 2005 | $ 20.06 | $ 15.88
quarter endeddecember 312005 | $ 19.76 | $ 15.58
======================================== | subtract(20.06, 15.88) | 4.18 |
in 2014 for the period october 1 - 31 2014 what was the ratio of the shares purchased as part of publicly announced program to the total number of shares purchased | Context: ['celanese purchases of its equity securities information regarding repurchases of our common stock during the three months ended december 31 , 2014 is as follows : period number of shares purchased ( 1 ) average price paid per share total number of shares purchased as part of publicly announced program approximate dollar value of shares remaining that may be purchased under the program ( 2 ) .']
##########
Table:
• period, totalnumberof sharespurchased ( 1 ), averageprice paidper share, total numberof sharespurchased aspart of publiclyannounced program, approximatedollarvalue of sharesremaining thatmay bepurchased underthe program ( 2 )
• october 1 - 31 2014, 192580, $ 58.02, 164800, $ 490000000
• november 1 - 30 2014, 468128, $ 59.25, 468128, $ 463000000
• december 1 - 31 2014, 199796, $ 60.78, 190259, $ 451000000
• total, 860504, , 823187,
##########
Post-table: ['___________________________ ( 1 ) includes 27780 and 9537 for october and december 2014 , respectively , related to shares withheld from employees to cover their statutory minimum withholding requirements for personal income taxes related to the vesting of restricted stock units .', '( 2 ) our board of directors has authorized the aggregate repurchase of $ 1.4 billion of our common stock since february 2008 .', "see note 17 - stockholders' equity in the accompanying consolidated financial statements for further information .", 'performance graph the following performance graph and related information shall not be deemed "soliciting material" or to be "filed" with the securities and exchange commission , nor shall such information be incorporated by reference into any future filing under the securities act of 1933 or securities exchange act of 1934 , each as amended , except to the extent that we specifically incorporate it by reference into such filing .', 'comparison of cumulative total return .'] | 0.85575 | CE/2014/page_32.pdf-1 | ['celanese purchases of its equity securities information regarding repurchases of our common stock during the three months ended december 31 , 2014 is as follows : period number of shares purchased ( 1 ) average price paid per share total number of shares purchased as part of publicly announced program approximate dollar value of shares remaining that may be purchased under the program ( 2 ) .'] | ['___________________________ ( 1 ) includes 27780 and 9537 for october and december 2014 , respectively , related to shares withheld from employees to cover their statutory minimum withholding requirements for personal income taxes related to the vesting of restricted stock units .', '( 2 ) our board of directors has authorized the aggregate repurchase of $ 1.4 billion of our common stock since february 2008 .', "see note 17 - stockholders' equity in the accompanying consolidated financial statements for further information .", 'performance graph the following performance graph and related information shall not be deemed "soliciting material" or to be "filed" with the securities and exchange commission , nor shall such information be incorporated by reference into any future filing under the securities act of 1933 or securities exchange act of 1934 , each as amended , except to the extent that we specifically incorporate it by reference into such filing .', 'comparison of cumulative total return .'] | • period, totalnumberof sharespurchased ( 1 ), averageprice paidper share, total numberof sharespurchased aspart of publiclyannounced program, approximatedollarvalue of sharesremaining thatmay bepurchased underthe program ( 2 )
• october 1 - 31 2014, 192580, $ 58.02, 164800, $ 490000000
• november 1 - 30 2014, 468128, $ 59.25, 468128, $ 463000000
• december 1 - 31 2014, 199796, $ 60.78, 190259, $ 451000000
• total, 860504, , 823187, | divide(164800, 192580) | 0.85575 |
what was the amount of shares paid out in 2016 in millions | Background: ['humana inc .', 'notes to consolidated financial statements 2014 ( continued ) 15 .', 'stockholders 2019 equity dividends the following table provides details of dividend payments , excluding dividend equivalent rights , in 2016 , 2017 , and 2018 under our board approved quarterly cash dividend policy : payment amount per share amount ( in millions ) .']
----
Tabular Data:
Row 1: paymentdate, amountper share, totalamount ( in millions )
Row 2: 2016, $ 1.16, $ 172
Row 3: 2017, $ 1.49, $ 216
Row 4: 2018, $ 1.90, $ 262
----
Follow-up: ['on november 2 , 2018 , the board declared a cash dividend of $ 0.50 per share that was paid on january 25 , 2019 to stockholders of record on december 31 , 2018 , for an aggregate amount of $ 68 million .', 'declaration and payment of future quarterly dividends is at the discretion of our board and may be adjusted as business needs or market conditions change .', 'in february 2019 , the board declared a cash dividend of $ 0.55 per share payable on april 26 , 2019 to stockholders of record on march 29 , 2019 .', 'stock repurchases our board of directors may authorize the purchase of our common shares .', 'under our share repurchase authorization , shares may have been purchased from time to time at prevailing prices in the open market , by block purchases , through plans designed to comply with rule 10b5-1 under the securities exchange act of 1934 , as amended , or in privately-negotiated transactions ( including pursuant to accelerated share repurchase agreements with investment banks ) , subject to certain regulatory restrictions on volume , pricing , and timing .', 'on february 14 , 2017 , our board of directors authorized the repurchase of up to $ 2.25 billion of our common shares expiring on december 31 , 2017 , exclusive of shares repurchased in connection with employee stock plans .', 'on february 16 , 2017 , we entered into an accelerated share repurchase agreement , the february 2017 asr , with goldman , sachs & co .', 'llc , or goldman sachs , to repurchase $ 1.5 billion of our common stock as part of the $ 2.25 billion share repurchase authorized on february 14 , 2017 .', 'on february 22 , 2017 , we made a payment of $ 1.5 billion to goldman sachs from available cash on hand and received an initial delivery of 5.83 million shares of our common stock from goldman sachs based on the then current market price of humana common stock .', 'the payment to goldman sachs was recorded as a reduction to stockholders 2019 equity , consisting of a $ 1.2 billion increase in treasury stock , which reflected the value of the initial 5.83 million shares received upon initial settlement , and a $ 300 million decrease in capital in excess of par value , which reflected the value of stock held back by goldman sachs pending final settlement of the february 2017 asr .', 'upon settlement of the february 2017 asr on august 28 , 2017 , we received an additional 0.84 million shares as determined by the average daily volume weighted-average share price of our common stock during the term of the agreement of $ 224.81 , less a discount and subject to adjustments pursuant to the terms and conditions of the february 2017 asr , bringing the total shares received under this program to 6.67 million .', 'in addition , upon settlement we reclassified the $ 300 million value of stock initially held back by goldman sachs from capital in excess of par value to treasury stock .', 'subsequent to settlement of the february 2017 asr , we repurchased an additional 3.04 million shares in the open market , utilizing the remaining $ 750 million of the $ 2.25 billion authorization prior to expiration .', 'on december 14 , 2017 , our board of directors authorized the repurchase of up to $ 3.0 billion of our common shares expiring on december 31 , 2020 , exclusive of shares repurchased in connection with employee stock plans. .'] | 148.27586 | HUM/2018/page_129.pdf-1 | ['humana inc .', 'notes to consolidated financial statements 2014 ( continued ) 15 .', 'stockholders 2019 equity dividends the following table provides details of dividend payments , excluding dividend equivalent rights , in 2016 , 2017 , and 2018 under our board approved quarterly cash dividend policy : payment amount per share amount ( in millions ) .'] | ['on november 2 , 2018 , the board declared a cash dividend of $ 0.50 per share that was paid on january 25 , 2019 to stockholders of record on december 31 , 2018 , for an aggregate amount of $ 68 million .', 'declaration and payment of future quarterly dividends is at the discretion of our board and may be adjusted as business needs or market conditions change .', 'in february 2019 , the board declared a cash dividend of $ 0.55 per share payable on april 26 , 2019 to stockholders of record on march 29 , 2019 .', 'stock repurchases our board of directors may authorize the purchase of our common shares .', 'under our share repurchase authorization , shares may have been purchased from time to time at prevailing prices in the open market , by block purchases , through plans designed to comply with rule 10b5-1 under the securities exchange act of 1934 , as amended , or in privately-negotiated transactions ( including pursuant to accelerated share repurchase agreements with investment banks ) , subject to certain regulatory restrictions on volume , pricing , and timing .', 'on february 14 , 2017 , our board of directors authorized the repurchase of up to $ 2.25 billion of our common shares expiring on december 31 , 2017 , exclusive of shares repurchased in connection with employee stock plans .', 'on february 16 , 2017 , we entered into an accelerated share repurchase agreement , the february 2017 asr , with goldman , sachs & co .', 'llc , or goldman sachs , to repurchase $ 1.5 billion of our common stock as part of the $ 2.25 billion share repurchase authorized on february 14 , 2017 .', 'on february 22 , 2017 , we made a payment of $ 1.5 billion to goldman sachs from available cash on hand and received an initial delivery of 5.83 million shares of our common stock from goldman sachs based on the then current market price of humana common stock .', 'the payment to goldman sachs was recorded as a reduction to stockholders 2019 equity , consisting of a $ 1.2 billion increase in treasury stock , which reflected the value of the initial 5.83 million shares received upon initial settlement , and a $ 300 million decrease in capital in excess of par value , which reflected the value of stock held back by goldman sachs pending final settlement of the february 2017 asr .', 'upon settlement of the february 2017 asr on august 28 , 2017 , we received an additional 0.84 million shares as determined by the average daily volume weighted-average share price of our common stock during the term of the agreement of $ 224.81 , less a discount and subject to adjustments pursuant to the terms and conditions of the february 2017 asr , bringing the total shares received under this program to 6.67 million .', 'in addition , upon settlement we reclassified the $ 300 million value of stock initially held back by goldman sachs from capital in excess of par value to treasury stock .', 'subsequent to settlement of the february 2017 asr , we repurchased an additional 3.04 million shares in the open market , utilizing the remaining $ 750 million of the $ 2.25 billion authorization prior to expiration .', 'on december 14 , 2017 , our board of directors authorized the repurchase of up to $ 3.0 billion of our common shares expiring on december 31 , 2020 , exclusive of shares repurchased in connection with employee stock plans. .'] | Row 1: paymentdate, amountper share, totalamount ( in millions )
Row 2: 2016, $ 1.16, $ 172
Row 3: 2017, $ 1.49, $ 216
Row 4: 2018, $ 1.90, $ 262 | divide(172, 1.16) | 148.27586 |
what was the change in tier 1 capital in millions between 2011 and 2012? | Background: ['notes to consolidated financial statements note 20 .', 'regulation and capital adequacy the federal reserve board is the primary regulator of group inc. , a bank holding company under the bank holding company act of 1956 ( bhc act ) and a financial holding company under amendments to the bhc act effected by the u.s .', 'gramm-leach-bliley act of 1999 .', 'as a bank holding company , the firm is subject to consolidated regulatory capital requirements that are computed in accordance with the federal reserve board 2019s risk-based capital requirements ( which are based on the 2018basel 1 2019 capital accord of the basel committee ) .', 'these capital requirements are expressed as capital ratios that compare measures of capital to risk-weighted assets ( rwas ) .', 'the firm 2019s u.s .', 'bank depository institution subsidiaries , including gs bank usa , are subject to similar capital requirements .', 'under the federal reserve board 2019s capital adequacy requirements and the regulatory framework for prompt corrective action that is applicable to gs bank usa , the firm and its u.s .', 'bank depository institution subsidiaries must meet specific capital requirements that involve quantitative measures of assets , liabilities and certain off- balance-sheet items as calculated under regulatory reporting practices .', 'the firm and its u.s .', 'bank depository institution subsidiaries 2019 capital amounts , as well as gs bank usa 2019s prompt corrective action classification , are also subject to qualitative judgments by the regulators about components , risk weightings and other factors .', 'many of the firm 2019s subsidiaries , including gs&co .', 'and the firm 2019s other broker-dealer subsidiaries , are subject to separate regulation and capital requirements as described below .', 'group inc .', 'federal reserve board regulations require bank holding companies to maintain a minimum tier 1 capital ratio of 4% ( 4 % ) and a minimum total capital ratio of 8% ( 8 % ) .', 'the required minimum tier 1 capital ratio and total capital ratio in order to be considered a 201cwell-capitalized 201d bank holding company under the federal reserve board guidelines are 6% ( 6 % ) and 10% ( 10 % ) , respectively .', 'bank holding companies may be expected to maintain ratios well above the minimum levels , depending on their particular condition , risk profile and growth plans .', 'the minimum tier 1 leverage ratio is 3% ( 3 % ) for bank holding companies that have received the highest supervisory rating under federal reserve board guidelines or that have implemented the federal reserve board 2019s risk-based capital measure for market risk .', 'other bank holding companies must have a minimum tier 1 leverage ratio of 4% ( 4 % ) .', 'the table below presents information regarding group inc . 2019s regulatory capital ratios. .']
######
Table:
$ in millions as of december 2012 as of december 2011
tier 1 capital $ 66977 $ 63262
tier 2 capital $ 13429 $ 13881
total capital $ 80406 $ 77143
risk-weighted assets $ 399928 $ 457027
tier 1 capital ratio 16.7% ( 16.7 % ) 13.8% ( 13.8 % )
total capital ratio 20.1% ( 20.1 % ) 16.9% ( 16.9 % )
tier 1 leverage ratio 7.3% ( 7.3 % ) 7.0% ( 7.0 % )
######
Additional Information: ['rwas under the federal reserve board 2019s risk-based capital requirements are calculated based on the amount of market risk and credit risk .', 'rwas for market risk are determined by reference to the firm 2019s value-at-risk ( var ) model , supplemented by other measures to capture risks not reflected in the firm 2019s var model .', 'credit risk for on- balance sheet assets is based on the balance sheet value .', 'for off-balance sheet exposures , including otc derivatives and commitments , a credit equivalent amount is calculated based on the notional amount of each trade .', 'all such assets and exposures are then assigned a risk weight depending on , among other things , whether the counterparty is a sovereign , bank or a qualifying securities firm or other entity ( or if collateral is held , depending on the nature of the collateral ) .', 'tier 1 leverage ratio is defined as tier 1 capital under basel 1 divided by average adjusted total assets ( which includes adjustments for disallowed goodwill and intangible assets , and the carrying value of equity investments in non-financial companies that are subject to deductions from tier 1 capital ) .', '184 goldman sachs 2012 annual report .'] | 3715.0 | GS/2012/page_186.pdf-3 | ['notes to consolidated financial statements note 20 .', 'regulation and capital adequacy the federal reserve board is the primary regulator of group inc. , a bank holding company under the bank holding company act of 1956 ( bhc act ) and a financial holding company under amendments to the bhc act effected by the u.s .', 'gramm-leach-bliley act of 1999 .', 'as a bank holding company , the firm is subject to consolidated regulatory capital requirements that are computed in accordance with the federal reserve board 2019s risk-based capital requirements ( which are based on the 2018basel 1 2019 capital accord of the basel committee ) .', 'these capital requirements are expressed as capital ratios that compare measures of capital to risk-weighted assets ( rwas ) .', 'the firm 2019s u.s .', 'bank depository institution subsidiaries , including gs bank usa , are subject to similar capital requirements .', 'under the federal reserve board 2019s capital adequacy requirements and the regulatory framework for prompt corrective action that is applicable to gs bank usa , the firm and its u.s .', 'bank depository institution subsidiaries must meet specific capital requirements that involve quantitative measures of assets , liabilities and certain off- balance-sheet items as calculated under regulatory reporting practices .', 'the firm and its u.s .', 'bank depository institution subsidiaries 2019 capital amounts , as well as gs bank usa 2019s prompt corrective action classification , are also subject to qualitative judgments by the regulators about components , risk weightings and other factors .', 'many of the firm 2019s subsidiaries , including gs&co .', 'and the firm 2019s other broker-dealer subsidiaries , are subject to separate regulation and capital requirements as described below .', 'group inc .', 'federal reserve board regulations require bank holding companies to maintain a minimum tier 1 capital ratio of 4% ( 4 % ) and a minimum total capital ratio of 8% ( 8 % ) .', 'the required minimum tier 1 capital ratio and total capital ratio in order to be considered a 201cwell-capitalized 201d bank holding company under the federal reserve board guidelines are 6% ( 6 % ) and 10% ( 10 % ) , respectively .', 'bank holding companies may be expected to maintain ratios well above the minimum levels , depending on their particular condition , risk profile and growth plans .', 'the minimum tier 1 leverage ratio is 3% ( 3 % ) for bank holding companies that have received the highest supervisory rating under federal reserve board guidelines or that have implemented the federal reserve board 2019s risk-based capital measure for market risk .', 'other bank holding companies must have a minimum tier 1 leverage ratio of 4% ( 4 % ) .', 'the table below presents information regarding group inc . 2019s regulatory capital ratios. .'] | ['rwas under the federal reserve board 2019s risk-based capital requirements are calculated based on the amount of market risk and credit risk .', 'rwas for market risk are determined by reference to the firm 2019s value-at-risk ( var ) model , supplemented by other measures to capture risks not reflected in the firm 2019s var model .', 'credit risk for on- balance sheet assets is based on the balance sheet value .', 'for off-balance sheet exposures , including otc derivatives and commitments , a credit equivalent amount is calculated based on the notional amount of each trade .', 'all such assets and exposures are then assigned a risk weight depending on , among other things , whether the counterparty is a sovereign , bank or a qualifying securities firm or other entity ( or if collateral is held , depending on the nature of the collateral ) .', 'tier 1 leverage ratio is defined as tier 1 capital under basel 1 divided by average adjusted total assets ( which includes adjustments for disallowed goodwill and intangible assets , and the carrying value of equity investments in non-financial companies that are subject to deductions from tier 1 capital ) .', '184 goldman sachs 2012 annual report .'] | $ in millions as of december 2012 as of december 2011
tier 1 capital $ 66977 $ 63262
tier 2 capital $ 13429 $ 13881
total capital $ 80406 $ 77143
risk-weighted assets $ 399928 $ 457027
tier 1 capital ratio 16.7% ( 16.7 % ) 13.8% ( 13.8 % )
total capital ratio 20.1% ( 20.1 % ) 16.9% ( 16.9 % )
tier 1 leverage ratio 7.3% ( 7.3 % ) 7.0% ( 7.0 % ) | subtract(66977, 63262) | 3715.0 |
was interest income greater than stock-based compensation cost in 2010? | Background: ['notes to the consolidated financial statements related to the change in the unrealized gain ( loss ) on derivatives for the years ended december 31 , 2010 , 2009 and 2008 was $ 1 million , $ ( 16 ) million and $ 30 million , respectively .', '19 .', 'employee savings plan ppg 2019s employee savings plan ( 201csavings plan 201d ) covers substantially all u.s .', 'employees .', 'the company makes matching contributions to the savings plan based upon participants 2019 savings , subject to certain limitations .', 'for most participants not covered by a collective bargaining agreement , company-matching contributions are established each year at the discretion of the company and are applied to a maximum of 6% ( 6 % ) of eligible participant compensation .', 'for those participants whose employment is covered by a collective bargaining agreement , the level of company- matching contribution , if any , is determined by the collective bargaining agreement .', 'the company-matching contribution was 100% ( 100 % ) for 2008 and for the first two months of 2009 .', 'the company- matching contribution was suspended from march 2009 through june 2010 as a cost savings measure in recognition of the adverse impact of the global recession .', 'effective july 1 , 2010 , the company match was reinstated at 50% ( 50 % ) on the first 6% ( 6 % ) contributed for most employees eligible for the company-matching contribution feature .', 'this would have included the bargained employees in accordance with their collective bargaining agreements .', 'on january 1 , 2011 , the company match was increased to 75% ( 75 % ) on the first 6% ( 6 % ) contributed by these eligible employees .', 'compensation expense and cash contributions related to the company match of participant contributions to the savings plan for 2010 , 2009 and 2008 totaled $ 9 million , $ 7 million and $ 42 million , respectively .', 'a portion of the savings plan qualifies under the internal revenue code as an employee stock ownership plan .', 'as a result , the tax deductible dividends on ppg shares held by the savings plan were $ 24 million , $ 28 million and $ 29 million for 2010 , 2009 and 2008 , respectively .', '20 .', 'other earnings ( millions ) 2010 2009 2008 .']
Tabular Data:
( millions ), 2010, 2009, 2008
interest income, $ 34, $ 28, $ 26
royalty income, 58, 45, 52
share of net earnings ( loss ) of equity affiliates ( see note 6 ), 45, -5 ( 5 ), 3
gain on sale of assets, 8, 36, 23
other, 69, 74, 61
total, $ 214, $ 178, $ 165
Additional Information: ['total $ 214 $ 178 $ 165 21 .', 'stock-based compensation the company 2019s stock-based compensation includes stock options , restricted stock units ( 201crsus 201d ) and grants of contingent shares that are earned based on achieving targeted levels of total shareholder return .', 'all current grants of stock options , rsus and contingent shares are made under the ppg industries , inc .', 'omnibus incentive plan ( 201cppg omnibus plan 201d ) .', 'shares available for future grants under the ppg omnibus plan were 4.1 million as of december 31 , 2010 .', 'total stock-based compensation cost was $ 52 million , $ 34 million and $ 33 million in 2010 , 2009 and 2008 , respectively .', 'the total income tax benefit recognized in the accompanying consolidated statement of income related to the stock-based compensation was $ 18 million , $ 12 million and $ 12 million in 2010 , 2009 and 2008 , respectively .', 'stock options ppg has outstanding stock option awards that have been granted under two stock option plans : the ppg industries , inc .', 'stock plan ( 201cppg stock plan 201d ) and the ppg omnibus plan .', 'under the ppg omnibus plan and the ppg stock plan , certain employees of the company have been granted options to purchase shares of common stock at prices equal to the fair market value of the shares on the date the options were granted .', 'the options are generally exercisable beginning from six to 48 months after being granted and have a maximum term of 10 years .', 'upon exercise of a stock option , shares of company stock are issued from treasury stock .', 'the ppg stock plan includes a restored option provision for options originally granted prior to january 1 , 2003 that allows an optionee to exercise options and satisfy the option price by certifying ownership of mature shares of ppg common stock with equivalent market value .', 'the fair value of stock options issued to employees is measured on the date of grant and is recognized as expense over the requisite service period .', 'ppg estimates the fair value of stock options using the black-scholes option pricing model .', 'the risk-free interest rate is determined by using the u.s .', 'treasury yield curve at the date of the grant and using a maturity equal to the expected life of the option .', 'the expected life of options is calculated using the average of the vesting term and the maximum term , as prescribed by accounting guidance on the use of the simplified method for determining the expected term of an employee share option .', 'this method is used as the vesting term of stock options was changed to three years in 2004 and , as a result , the historical exercise data does not provide a reasonable basis upon which to estimate the expected life of options .', 'the expected dividend yield and volatility are based on historical stock prices and dividend amounts over past time periods equal in length to the expected life of the options .', '66 2010 ppg annual report and form 10-k .'] | no | PPG/2010/page_68.pdf-2 | ['notes to the consolidated financial statements related to the change in the unrealized gain ( loss ) on derivatives for the years ended december 31 , 2010 , 2009 and 2008 was $ 1 million , $ ( 16 ) million and $ 30 million , respectively .', '19 .', 'employee savings plan ppg 2019s employee savings plan ( 201csavings plan 201d ) covers substantially all u.s .', 'employees .', 'the company makes matching contributions to the savings plan based upon participants 2019 savings , subject to certain limitations .', 'for most participants not covered by a collective bargaining agreement , company-matching contributions are established each year at the discretion of the company and are applied to a maximum of 6% ( 6 % ) of eligible participant compensation .', 'for those participants whose employment is covered by a collective bargaining agreement , the level of company- matching contribution , if any , is determined by the collective bargaining agreement .', 'the company-matching contribution was 100% ( 100 % ) for 2008 and for the first two months of 2009 .', 'the company- matching contribution was suspended from march 2009 through june 2010 as a cost savings measure in recognition of the adverse impact of the global recession .', 'effective july 1 , 2010 , the company match was reinstated at 50% ( 50 % ) on the first 6% ( 6 % ) contributed for most employees eligible for the company-matching contribution feature .', 'this would have included the bargained employees in accordance with their collective bargaining agreements .', 'on january 1 , 2011 , the company match was increased to 75% ( 75 % ) on the first 6% ( 6 % ) contributed by these eligible employees .', 'compensation expense and cash contributions related to the company match of participant contributions to the savings plan for 2010 , 2009 and 2008 totaled $ 9 million , $ 7 million and $ 42 million , respectively .', 'a portion of the savings plan qualifies under the internal revenue code as an employee stock ownership plan .', 'as a result , the tax deductible dividends on ppg shares held by the savings plan were $ 24 million , $ 28 million and $ 29 million for 2010 , 2009 and 2008 , respectively .', '20 .', 'other earnings ( millions ) 2010 2009 2008 .'] | ['total $ 214 $ 178 $ 165 21 .', 'stock-based compensation the company 2019s stock-based compensation includes stock options , restricted stock units ( 201crsus 201d ) and grants of contingent shares that are earned based on achieving targeted levels of total shareholder return .', 'all current grants of stock options , rsus and contingent shares are made under the ppg industries , inc .', 'omnibus incentive plan ( 201cppg omnibus plan 201d ) .', 'shares available for future grants under the ppg omnibus plan were 4.1 million as of december 31 , 2010 .', 'total stock-based compensation cost was $ 52 million , $ 34 million and $ 33 million in 2010 , 2009 and 2008 , respectively .', 'the total income tax benefit recognized in the accompanying consolidated statement of income related to the stock-based compensation was $ 18 million , $ 12 million and $ 12 million in 2010 , 2009 and 2008 , respectively .', 'stock options ppg has outstanding stock option awards that have been granted under two stock option plans : the ppg industries , inc .', 'stock plan ( 201cppg stock plan 201d ) and the ppg omnibus plan .', 'under the ppg omnibus plan and the ppg stock plan , certain employees of the company have been granted options to purchase shares of common stock at prices equal to the fair market value of the shares on the date the options were granted .', 'the options are generally exercisable beginning from six to 48 months after being granted and have a maximum term of 10 years .', 'upon exercise of a stock option , shares of company stock are issued from treasury stock .', 'the ppg stock plan includes a restored option provision for options originally granted prior to january 1 , 2003 that allows an optionee to exercise options and satisfy the option price by certifying ownership of mature shares of ppg common stock with equivalent market value .', 'the fair value of stock options issued to employees is measured on the date of grant and is recognized as expense over the requisite service period .', 'ppg estimates the fair value of stock options using the black-scholes option pricing model .', 'the risk-free interest rate is determined by using the u.s .', 'treasury yield curve at the date of the grant and using a maturity equal to the expected life of the option .', 'the expected life of options is calculated using the average of the vesting term and the maximum term , as prescribed by accounting guidance on the use of the simplified method for determining the expected term of an employee share option .', 'this method is used as the vesting term of stock options was changed to three years in 2004 and , as a result , the historical exercise data does not provide a reasonable basis upon which to estimate the expected life of options .', 'the expected dividend yield and volatility are based on historical stock prices and dividend amounts over past time periods equal in length to the expected life of the options .', '66 2010 ppg annual report and form 10-k .'] | ( millions ), 2010, 2009, 2008
interest income, $ 34, $ 28, $ 26
royalty income, 58, 45, 52
share of net earnings ( loss ) of equity affiliates ( see note 6 ), 45, -5 ( 5 ), 3
gain on sale of assets, 8, 36, 23
other, 69, 74, 61
total, $ 214, $ 178, $ 165 | greater(34, 52) | no |
what is the carrying value of notes due by 2017 ? in millions $ . | Background: ['long-term borrowings the carrying value and fair value of long-term borrowings estimated using market prices at december 31 , 2013 included the following : ( in millions ) maturity amount unamortized discount carrying value fair value .']
Data Table:
( in millions ) maturity amount unamortized discount carrying value fair value
3.50% ( 3.50 % ) notes due 2014 $ 1000 $ 2014 $ 1000 $ 1029
1.375% ( 1.375 % ) notes due 2015 750 2014 750 759
6.25% ( 6.25 % ) notes due 2017 700 -2 ( 2 ) 698 812
5.00% ( 5.00 % ) notes due 2019 1000 -2 ( 2 ) 998 1140
4.25% ( 4.25 % ) notes due 2021 750 -3 ( 3 ) 747 799
3.375% ( 3.375 % ) notes due 2022 750 -4 ( 4 ) 746 745
total long-term borrowings $ 4950 $ -11 ( 11 ) $ 4939 $ 5284
Follow-up: ['long-term borrowings at december 31 , 2012 had a carrying value of $ 5.687 billion and a fair value of $ 6.275 billion determined using market prices at the end of december 2012 .', '2015 and 2022 notes .', 'in may 2012 , the company issued $ 1.5 billion in aggregate principal amount of unsecured unsubordinated obligations .', 'these notes were issued as two separate series of senior debt securities including $ 750 million of 1.375% ( 1.375 % ) notes maturing in june 2015 ( the 201c2015 notes 201d ) and $ 750 million of 3.375% ( 3.375 % ) notes maturing in june 2022 ( the 201c2022 notes 201d ) .', 'net proceeds were used to fund the repurchase of blackrock 2019s common stock and series b preferred from barclays and affiliates and for general corporate purposes .', 'interest on the 2015 notes and the 2022 notes of approximately $ 10 million and $ 25 million per year , respectively , is payable semi-annually on june 1 and december 1 of each year , which commenced december 1 , 2012 .', 'the 2015 notes and 2022 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .', 'the 201cmake-whole 201d redemption price represents a price , subject to the specific terms of the 2015 and 2022 notes and related indenture , that is the greater of ( a ) par value and ( b ) the present value of future payments that will not be paid because of an early redemption , which is discounted at a fixed spread over a comparable treasury security .', 'the 2015 notes and 2022 notes were issued at a discount of $ 5 million that is being amortized over the term of the notes .', 'the company incurred approximately $ 7 million of debt issuance costs , which are being amortized over the respective terms of the 2015 notes and 2022 notes .', 'at december 31 , 2013 , $ 5 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition .', '2013 and 2021 notes .', 'in may 2011 , the company issued $ 1.5 billion in aggregate principal amount of unsecured unsubordinated obligations .', 'these notes were issued as two separate series of senior debt securities including $ 750 million of 4.25% ( 4.25 % ) notes maturing in may 2021 and $ 750 million of floating rate notes ( 201c2013 floating rate notes 201d ) , which were repaid in may 2013 at maturity .', 'net proceeds of this offering were used to fund the repurchase of blackrock 2019s series b preferred from affiliates of merrill lynch & co. , inc .', '( 201cmerrill lynch 201d ) .', 'interest on the 4.25% ( 4.25 % ) notes due in 2021 ( 201c2021 notes 201d ) is payable semi-annually on may 24 and november 24 of each year , which commenced november 24 , 2011 , and is approximately $ 32 million per year .', 'the 2021 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .', 'the 2021 notes were issued at a discount of $ 4 million that is being amortized over the term of the notes .', 'the company incurred approximately $ 7 million of debt issuance costs for the $ 1.5 billion note issuances , which are being amortized over the respective terms of the notes .', 'at december 31 , 2013 , $ 3 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition .', 'in may 2011 , in conjunction with the issuance of the 2013 floating rate notes , the company entered into a $ 750 million notional interest rate swap maturing in 2013 to hedge the future cash flows of its obligation at a fixed rate of 1.03% ( 1.03 % ) .', 'during the second quarter of 2013 , the interest rate swap matured and the 2013 floating rate notes were fully repaid .', '2012 , 2014 and 2019 notes .', 'in december 2009 , the company issued $ 2.5 billion in aggregate principal amount of unsecured and unsubordinated obligations .', 'these notes were issued as three separate series of senior debt securities including $ 0.5 billion of 2.25% ( 2.25 % ) notes , which were repaid in december 2012 , $ 1.0 billion of 3.50% ( 3.50 % ) notes and $ 1.0 billion of 5.0% ( 5.0 % ) notes maturing in december 2014 and 2019 , respectively .', 'net proceeds of this offering were used to repay borrowings under the cp program , which was used to finance a portion of the acquisition of barclays global investors ( 201cbgi 201d ) from barclays on december 1 , 2009 ( the 201cbgi transaction 201d ) , and for general corporate purposes .', 'interest on the 2014 notes and 2019 notes of approximately $ 35 million and $ 50 million per year , respectively , is payable semi-annually in arrears on june 10 and december 10 of each year .', 'these notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .', 'these notes were issued collectively at a discount of $ 5 million , which is being amortized over the respective terms of the notes .', 'the company incurred approximately $ 13 million of debt issuance costs , which are being amortized over the respective terms of these notes .', 'at december 31 , 2013 , $ 4 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition .', '2017 notes .', 'in september 2007 , the company issued $ 700 million in aggregate principal amount of 6.25% ( 6.25 % ) senior unsecured and unsubordinated notes maturing on september 15 , 2017 ( the 201c2017 notes 201d ) .', 'a portion of the net proceeds of the 2017 notes was used to fund the initial cash payment for the acquisition of the fund of funds business of quellos and the remainder was used for general corporate purposes .', 'interest is payable semi-annually in arrears on march 15 and september 15 of each year , or approximately $ 44 million per year .', 'the 2017 notes may be redeemed prior .'] | 2448.0 | BLK/2013/page_124.pdf-2 | ['long-term borrowings the carrying value and fair value of long-term borrowings estimated using market prices at december 31 , 2013 included the following : ( in millions ) maturity amount unamortized discount carrying value fair value .'] | ['long-term borrowings at december 31 , 2012 had a carrying value of $ 5.687 billion and a fair value of $ 6.275 billion determined using market prices at the end of december 2012 .', '2015 and 2022 notes .', 'in may 2012 , the company issued $ 1.5 billion in aggregate principal amount of unsecured unsubordinated obligations .', 'these notes were issued as two separate series of senior debt securities including $ 750 million of 1.375% ( 1.375 % ) notes maturing in june 2015 ( the 201c2015 notes 201d ) and $ 750 million of 3.375% ( 3.375 % ) notes maturing in june 2022 ( the 201c2022 notes 201d ) .', 'net proceeds were used to fund the repurchase of blackrock 2019s common stock and series b preferred from barclays and affiliates and for general corporate purposes .', 'interest on the 2015 notes and the 2022 notes of approximately $ 10 million and $ 25 million per year , respectively , is payable semi-annually on june 1 and december 1 of each year , which commenced december 1 , 2012 .', 'the 2015 notes and 2022 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .', 'the 201cmake-whole 201d redemption price represents a price , subject to the specific terms of the 2015 and 2022 notes and related indenture , that is the greater of ( a ) par value and ( b ) the present value of future payments that will not be paid because of an early redemption , which is discounted at a fixed spread over a comparable treasury security .', 'the 2015 notes and 2022 notes were issued at a discount of $ 5 million that is being amortized over the term of the notes .', 'the company incurred approximately $ 7 million of debt issuance costs , which are being amortized over the respective terms of the 2015 notes and 2022 notes .', 'at december 31 , 2013 , $ 5 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition .', '2013 and 2021 notes .', 'in may 2011 , the company issued $ 1.5 billion in aggregate principal amount of unsecured unsubordinated obligations .', 'these notes were issued as two separate series of senior debt securities including $ 750 million of 4.25% ( 4.25 % ) notes maturing in may 2021 and $ 750 million of floating rate notes ( 201c2013 floating rate notes 201d ) , which were repaid in may 2013 at maturity .', 'net proceeds of this offering were used to fund the repurchase of blackrock 2019s series b preferred from affiliates of merrill lynch & co. , inc .', '( 201cmerrill lynch 201d ) .', 'interest on the 4.25% ( 4.25 % ) notes due in 2021 ( 201c2021 notes 201d ) is payable semi-annually on may 24 and november 24 of each year , which commenced november 24 , 2011 , and is approximately $ 32 million per year .', 'the 2021 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .', 'the 2021 notes were issued at a discount of $ 4 million that is being amortized over the term of the notes .', 'the company incurred approximately $ 7 million of debt issuance costs for the $ 1.5 billion note issuances , which are being amortized over the respective terms of the notes .', 'at december 31 , 2013 , $ 3 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition .', 'in may 2011 , in conjunction with the issuance of the 2013 floating rate notes , the company entered into a $ 750 million notional interest rate swap maturing in 2013 to hedge the future cash flows of its obligation at a fixed rate of 1.03% ( 1.03 % ) .', 'during the second quarter of 2013 , the interest rate swap matured and the 2013 floating rate notes were fully repaid .', '2012 , 2014 and 2019 notes .', 'in december 2009 , the company issued $ 2.5 billion in aggregate principal amount of unsecured and unsubordinated obligations .', 'these notes were issued as three separate series of senior debt securities including $ 0.5 billion of 2.25% ( 2.25 % ) notes , which were repaid in december 2012 , $ 1.0 billion of 3.50% ( 3.50 % ) notes and $ 1.0 billion of 5.0% ( 5.0 % ) notes maturing in december 2014 and 2019 , respectively .', 'net proceeds of this offering were used to repay borrowings under the cp program , which was used to finance a portion of the acquisition of barclays global investors ( 201cbgi 201d ) from barclays on december 1 , 2009 ( the 201cbgi transaction 201d ) , and for general corporate purposes .', 'interest on the 2014 notes and 2019 notes of approximately $ 35 million and $ 50 million per year , respectively , is payable semi-annually in arrears on june 10 and december 10 of each year .', 'these notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .', 'these notes were issued collectively at a discount of $ 5 million , which is being amortized over the respective terms of the notes .', 'the company incurred approximately $ 13 million of debt issuance costs , which are being amortized over the respective terms of these notes .', 'at december 31 , 2013 , $ 4 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition .', '2017 notes .', 'in september 2007 , the company issued $ 700 million in aggregate principal amount of 6.25% ( 6.25 % ) senior unsecured and unsubordinated notes maturing on september 15 , 2017 ( the 201c2017 notes 201d ) .', 'a portion of the net proceeds of the 2017 notes was used to fund the initial cash payment for the acquisition of the fund of funds business of quellos and the remainder was used for general corporate purposes .', 'interest is payable semi-annually in arrears on march 15 and september 15 of each year , or approximately $ 44 million per year .', 'the 2017 notes may be redeemed prior .'] | ( in millions ) maturity amount unamortized discount carrying value fair value
3.50% ( 3.50 % ) notes due 2014 $ 1000 $ 2014 $ 1000 $ 1029
1.375% ( 1.375 % ) notes due 2015 750 2014 750 759
6.25% ( 6.25 % ) notes due 2017 700 -2 ( 2 ) 698 812
5.00% ( 5.00 % ) notes due 2019 1000 -2 ( 2 ) 998 1140
4.25% ( 4.25 % ) notes due 2021 750 -3 ( 3 ) 747 799
3.375% ( 3.375 % ) notes due 2022 750 -4 ( 4 ) 746 745
total long-term borrowings $ 4950 $ -11 ( 11 ) $ 4939 $ 5284 | add(1000, 750), add(#0, 698) | 2448.0 |
what percentage of total non-recourse debt as of december 31 , 2011 is due in 2014? | Context: ['the aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2011 , 2010 , and 2009 ( 1 ) weighted average interest rate at december 31 , 2011 .', '( 2 ) the company has interest rate swaps and interest rate option agreements in an aggregate notional principal amount of approximately $ 3.6 billion on non-recourse debt outstanding at december 31 , 2011 .', 'the swap agreements economically change the variable interest rates on the portion of the debt covered by the notional amounts to fixed rates ranging from approximately 1.44% ( 1.44 % ) to 6.98% ( 6.98 % ) .', 'the option agreements fix interest rates within a range from 1.00% ( 1.00 % ) to 7.00% ( 7.00 % ) .', 'the agreements expire at various dates from 2016 through 2028 .', '( 3 ) multilateral loans include loans funded and guaranteed by bilaterals , multilaterals , development banks and other similar institutions .', '( 4 ) non-recourse debt of $ 704 million and $ 945 million as of december 31 , 2011 and 2010 , respectively , was excluded from non-recourse debt and included in current and long-term liabilities of held for sale and discontinued businesses in the accompanying consolidated balance sheets .', 'non-recourse debt as of december 31 , 2011 is scheduled to reach maturity as set forth in the table below : december 31 , annual maturities ( in millions ) .']
----------
Data Table:
• december 31,, annual maturities ( in millions )
• 2012, $ 2152
• 2013, 1389
• 2014, 1697
• 2015, 851
• 2016, 2301
• thereafter, 7698
• total non-recourse debt, $ 16088
----------
Follow-up: ['as of december 31 , 2011 , aes subsidiaries with facilities under construction had a total of approximately $ 1.4 billion of committed but unused credit facilities available to fund construction and other related costs .', 'excluding these facilities under construction , aes subsidiaries had approximately $ 1.2 billion in a number of available but unused committed revolving credit lines to support their working capital , debt service reserves and other business needs .', 'these credit lines can be used in one or more of the following ways : solely for borrowings ; solely for letters of credit ; or a combination of these uses .', 'the weighted average interest rate on borrowings from these facilities was 14.75% ( 14.75 % ) at december 31 , 2011 .', 'on october 3 , 2011 , dolphin subsidiary ii , inc .', '( 201cdolphin ii 201d ) , a newly formed , wholly-owned special purpose indirect subsidiary of aes , entered into an indenture ( the 201cindenture 201d ) with wells fargo bank , n.a .', '( the 201ctrustee 201d ) as part of its issuance of $ 450 million aggregate principal amount of 6.50% ( 6.50 % ) senior notes due 2016 ( the 201c2016 notes 201d ) and $ 800 million aggregate principal amount of 7.25% ( 7.25 % ) senior notes due 2021 ( the 201c7.25% ( 201c7.25 % ) 2021 notes 201d , together with the 2016 notes , the 201cnotes 201d ) to finance the acquisition ( the 201cacquisition 201d ) of dpl .', 'upon closing of the acquisition on november 28 , 2011 , dolphin ii was merged into dpl with dpl being the surviving entity and obligor .', 'the 2016 notes and the 7.25% ( 7.25 % ) 2021 notes are included under 201cnotes and bonds 201d in the non-recourse detail table above .', 'see note 23 2014acquisitions and dispositions for further information .', 'interest on the 2016 notes and the 7.25% ( 7.25 % ) 2021 notes accrues at a rate of 6.50% ( 6.50 % ) and 7.25% ( 7.25 % ) per year , respectively , and is payable on april 15 and october 15 of each year , beginning april 15 , 2012 .', 'prior to september 15 , 2016 with respect to the 2016 notes and july 15 , 2021 with respect to the 7.25% ( 7.25 % ) 2021 notes , dpl may redeem some or all of the 2016 notes or 7.25% ( 7.25 % ) 2021 notes at par , plus a 201cmake-whole 201d amount set forth in .'] | 0.10548 | AES/2011/page_230.pdf-2 | ['the aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2011 , 2010 , and 2009 ( 1 ) weighted average interest rate at december 31 , 2011 .', '( 2 ) the company has interest rate swaps and interest rate option agreements in an aggregate notional principal amount of approximately $ 3.6 billion on non-recourse debt outstanding at december 31 , 2011 .', 'the swap agreements economically change the variable interest rates on the portion of the debt covered by the notional amounts to fixed rates ranging from approximately 1.44% ( 1.44 % ) to 6.98% ( 6.98 % ) .', 'the option agreements fix interest rates within a range from 1.00% ( 1.00 % ) to 7.00% ( 7.00 % ) .', 'the agreements expire at various dates from 2016 through 2028 .', '( 3 ) multilateral loans include loans funded and guaranteed by bilaterals , multilaterals , development banks and other similar institutions .', '( 4 ) non-recourse debt of $ 704 million and $ 945 million as of december 31 , 2011 and 2010 , respectively , was excluded from non-recourse debt and included in current and long-term liabilities of held for sale and discontinued businesses in the accompanying consolidated balance sheets .', 'non-recourse debt as of december 31 , 2011 is scheduled to reach maturity as set forth in the table below : december 31 , annual maturities ( in millions ) .'] | ['as of december 31 , 2011 , aes subsidiaries with facilities under construction had a total of approximately $ 1.4 billion of committed but unused credit facilities available to fund construction and other related costs .', 'excluding these facilities under construction , aes subsidiaries had approximately $ 1.2 billion in a number of available but unused committed revolving credit lines to support their working capital , debt service reserves and other business needs .', 'these credit lines can be used in one or more of the following ways : solely for borrowings ; solely for letters of credit ; or a combination of these uses .', 'the weighted average interest rate on borrowings from these facilities was 14.75% ( 14.75 % ) at december 31 , 2011 .', 'on october 3 , 2011 , dolphin subsidiary ii , inc .', '( 201cdolphin ii 201d ) , a newly formed , wholly-owned special purpose indirect subsidiary of aes , entered into an indenture ( the 201cindenture 201d ) with wells fargo bank , n.a .', '( the 201ctrustee 201d ) as part of its issuance of $ 450 million aggregate principal amount of 6.50% ( 6.50 % ) senior notes due 2016 ( the 201c2016 notes 201d ) and $ 800 million aggregate principal amount of 7.25% ( 7.25 % ) senior notes due 2021 ( the 201c7.25% ( 201c7.25 % ) 2021 notes 201d , together with the 2016 notes , the 201cnotes 201d ) to finance the acquisition ( the 201cacquisition 201d ) of dpl .', 'upon closing of the acquisition on november 28 , 2011 , dolphin ii was merged into dpl with dpl being the surviving entity and obligor .', 'the 2016 notes and the 7.25% ( 7.25 % ) 2021 notes are included under 201cnotes and bonds 201d in the non-recourse detail table above .', 'see note 23 2014acquisitions and dispositions for further information .', 'interest on the 2016 notes and the 7.25% ( 7.25 % ) 2021 notes accrues at a rate of 6.50% ( 6.50 % ) and 7.25% ( 7.25 % ) per year , respectively , and is payable on april 15 and october 15 of each year , beginning april 15 , 2012 .', 'prior to september 15 , 2016 with respect to the 2016 notes and july 15 , 2021 with respect to the 7.25% ( 7.25 % ) 2021 notes , dpl may redeem some or all of the 2016 notes or 7.25% ( 7.25 % ) 2021 notes at par , plus a 201cmake-whole 201d amount set forth in .'] | • december 31,, annual maturities ( in millions )
• 2012, $ 2152
• 2013, 1389
• 2014, 1697
• 2015, 851
• 2016, 2301
• thereafter, 7698
• total non-recourse debt, $ 16088 | divide(1697, 16088) | 0.10548 |
for 2005 and 2004 , what were net gains and losses from all hedges ( us$ m? ) | Context: ['jpmorgan chase & co .', '/ 2005 annual report 123 litigation reserve the firm maintains litigation reserves for certain of its litigations , including its material legal proceedings .', 'while the outcome of litigation is inherently uncertain , management believes , in light of all information known to it at december 31 , 2005 , that the firm 2019s litigation reserves were adequate at such date .', 'management reviews litigation reserves periodically , and the reserves may be increased or decreased in the future to reflect further litigation devel- opments .', 'the firm believes it has meritorious defenses to claims asserted against it in its currently outstanding litigation and , with respect to such liti- gation , intends to continue to defend itself vigorously , litigating or settling cases according to management 2019s judgment as to what is in the best interest of stockholders .', 'note 26 2013 accounting for derivative instruments and hedging activities derivative instruments enable end users to increase , reduce or alter exposure to credit or market risks .', 'the value of a derivative is derived from its reference to an underlying variable or combination of variables such as equity , foreign exchange , credit , commodity or interest rate prices or indices .', 'jpmorgan chase makes markets in derivatives for customers and also is an end-user of derivatives in order to manage the firm 2019s exposure to credit and market risks .', 'sfas 133 , as amended by sfas 138 and sfas 149 , establishes accounting and reporting standards for derivative instruments , including those used for trading and hedging activities , and derivative instruments embedded in other contracts .', 'all free-standing derivatives , whether designated for hedging rela- tionships or not , are required to be recorded on the balance sheet at fair value .', 'the accounting for changes in value of a derivative depends on whether the contract is for trading purposes or has been designated and qualifies for hedge accounting .', 'the majority of the firm 2019s derivatives are entered into for trading purposes .', 'the firm also uses derivatives as an end user to hedge market exposures , modify the interest rate characteristics of related balance sheet instruments or meet longer-term investment objectives .', 'both trading and end-user derivatives are recorded at fair value in trading assets and trading liabilities as set forth in note 3 on page 94 of this annual report .', 'in order to qualify for hedge accounting , a derivative must be considered highly effective at reducing the risk associated with the exposure being hedged .', 'each derivative must be designated as a hedge , with documentation of the risk management objective and strategy , including identification of the hedging instrument , the hedged item and the risk exposure , and how effectiveness is to be assessed prospectively and retrospectively .', 'the extent to which a hedging instrument is effective at achieving offsetting changes in fair value or cash flows must be assessed at least quarterly .', 'any ineffectiveness must be reported in current-period earnings .', 'for qualifying fair value hedges , all changes in the fair value of the derivative and in the fair value of the item for the risk being hedged are recognized in earnings .', 'if the hedge relationship is terminated , then the fair value adjust- ment to the hedged item continues to be reported as part of the basis of the item and is amortized to earnings as a yield adjustment .', 'for qualifying cash flow hedges , the effective portion of the change in the fair value of the derivative is recorded in other comprehensive income and recognized in the income statement when the hedged cash flows affect earnings .', 'the ineffective portions of cash flow hedges are immediately recognized in earnings .', 'if the hedge relationship is terminated , then the change in fair value of the derivative recorded in other comprehensive income is recognized when the cash flows that were hedged occur , consistent with the original hedge strategy .', 'for hedge relationships discontinued because the forecasted transaction is not expected to occur according to the original strategy , any related derivative amounts recorded in other comprehensive income are immediately recognized in earnings .', 'for qualifying net investment hedges , changes in the fair value of the derivative or the revaluation of the foreign currency 2013denominated debt instrument are recorded in the translation adjustments account within other comprehensive income .', 'any ineffective portions of net investment hedges are immediately recognized in earnings .', 'jpmorgan chase 2019s fair value hedges primarily include hedges of fixed-rate long-term debt , loans , afs securities and msrs .', 'interest rate swaps are the most common type of derivative contract used to modify exposure to interest rate risk , converting fixed-rate assets and liabilities to a floating rate .', 'interest rate options , swaptions and forwards are also used in combination with interest rate swaps to hedge the fair value of the firm 2019s msrs .', 'for a further discussion of msr risk management activities , see note 15 on pages 114 2013116 of this annual report .', 'all amounts have been included in earnings consistent with the classification of the hedged item , primarily net interest income , mortgage fees and related income , and other income .', 'the firm did not recognize any gains or losses during 2005 on firm commitments that no longer qualify as fair value hedges .', 'jpmorgan chase also enters into derivative contracts to hedge exposure to variability in cash flows from floating-rate financial instruments and forecasted transactions , primarily the rollover of short-term assets and liabilities , and foreign currency-denominated revenues and expenses .', 'interest rate swaps , futures and forward contracts are the most common instruments used to reduce the impact of interest rate and foreign exchange rate changes on future earnings .', 'all amounts affecting earnings have been recognized consistent with the classification of the hedged item , primarily net interest income .', 'the firm uses forward foreign exchange contracts and foreign currency- denominated debt instruments to protect the value of net investments in foreign currencies in non-u.s .', 'subsidiaries .', 'the portion of the hedging instru- ments excluded from the assessment of hedge effectiveness ( forward points ) is recorded in net interest income .', 'the following table presents derivative instrument hedging-related activities for the periods indicated : year ended december 31 , ( in millions ) ( a ) 2005 2004 fair value hedge ineffective net gains/ ( losses ) ( b ) $ ( 58 ) $ 199 cash flow hedge ineffective net gains/ ( losses ) ( b ) ( 2 ) 2014 cash flow hedging gains on forecasted transactions that failed to occur 2014 1 ( a ) 2004 results include six months of the combined firm 2019s results and six months of heritage jpmorgan chase results .', '( b ) includes ineffectiveness and the components of hedging instruments that have been excluded from the assessment of hedge effectiveness .', 'over the next 12 months , it is expected that $ 44 million ( after-tax ) of net gains recorded in other comprehensive income at december 31 , 2005 , will be recognized in earnings .', 'the maximum length of time over which forecasted transactions are hedged is 10 years , and such transactions primarily relate to core lending and borrowing activities .', 'jpmorgan chase does not seek to apply hedge accounting to all of the firm 2019s economic hedges .', 'for example , the firm does not apply hedge accounting to standard credit derivatives used to manage the credit risk of loans and commitments because of the difficulties in qualifying such contracts as hedges under sfas 133 .', 'similarly , the firm does not apply hedge accounting to certain interest rate derivatives used as economic hedges. .']
--------
Data Table:
----------------------------------------
Row 1: year ended december 31 ( in millions ) ( a ), 2005, 2004
Row 2: fair value hedge ineffective net gains/ ( losses ) ( b ), $ -58 ( 58 ), $ 199
Row 3: cash flow hedge ineffective net gains/ ( losses ) ( b ), -2 ( 2 ), 2014
Row 4: cash flow hedging gains on forecastedtransactions that failed to occur, 2014, 1
----------------------------------------
--------
Follow-up: ['jpmorgan chase & co .', '/ 2005 annual report 123 litigation reserve the firm maintains litigation reserves for certain of its litigations , including its material legal proceedings .', 'while the outcome of litigation is inherently uncertain , management believes , in light of all information known to it at december 31 , 2005 , that the firm 2019s litigation reserves were adequate at such date .', 'management reviews litigation reserves periodically , and the reserves may be increased or decreased in the future to reflect further litigation devel- opments .', 'the firm believes it has meritorious defenses to claims asserted against it in its currently outstanding litigation and , with respect to such liti- gation , intends to continue to defend itself vigorously , litigating or settling cases according to management 2019s judgment as to what is in the best interest of stockholders .', 'note 26 2013 accounting for derivative instruments and hedging activities derivative instruments enable end users to increase , reduce or alter exposure to credit or market risks .', 'the value of a derivative is derived from its reference to an underlying variable or combination of variables such as equity , foreign exchange , credit , commodity or interest rate prices or indices .', 'jpmorgan chase makes markets in derivatives for customers and also is an end-user of derivatives in order to manage the firm 2019s exposure to credit and market risks .', 'sfas 133 , as amended by sfas 138 and sfas 149 , establishes accounting and reporting standards for derivative instruments , including those used for trading and hedging activities , and derivative instruments embedded in other contracts .', 'all free-standing derivatives , whether designated for hedging rela- tionships or not , are required to be recorded on the balance sheet at fair value .', 'the accounting for changes in value of a derivative depends on whether the contract is for trading purposes or has been designated and qualifies for hedge accounting .', 'the majority of the firm 2019s derivatives are entered into for trading purposes .', 'the firm also uses derivatives as an end user to hedge market exposures , modify the interest rate characteristics of related balance sheet instruments or meet longer-term investment objectives .', 'both trading and end-user derivatives are recorded at fair value in trading assets and trading liabilities as set forth in note 3 on page 94 of this annual report .', 'in order to qualify for hedge accounting , a derivative must be considered highly effective at reducing the risk associated with the exposure being hedged .', 'each derivative must be designated as a hedge , with documentation of the risk management objective and strategy , including identification of the hedging instrument , the hedged item and the risk exposure , and how effectiveness is to be assessed prospectively and retrospectively .', 'the extent to which a hedging instrument is effective at achieving offsetting changes in fair value or cash flows must be assessed at least quarterly .', 'any ineffectiveness must be reported in current-period earnings .', 'for qualifying fair value hedges , all changes in the fair value of the derivative and in the fair value of the item for the risk being hedged are recognized in earnings .', 'if the hedge relationship is terminated , then the fair value adjust- ment to the hedged item continues to be reported as part of the basis of the item and is amortized to earnings as a yield adjustment .', 'for qualifying cash flow hedges , the effective portion of the change in the fair value of the derivative is recorded in other comprehensive income and recognized in the income statement when the hedged cash flows affect earnings .', 'the ineffective portions of cash flow hedges are immediately recognized in earnings .', 'if the hedge relationship is terminated , then the change in fair value of the derivative recorded in other comprehensive income is recognized when the cash flows that were hedged occur , consistent with the original hedge strategy .', 'for hedge relationships discontinued because the forecasted transaction is not expected to occur according to the original strategy , any related derivative amounts recorded in other comprehensive income are immediately recognized in earnings .', 'for qualifying net investment hedges , changes in the fair value of the derivative or the revaluation of the foreign currency 2013denominated debt instrument are recorded in the translation adjustments account within other comprehensive income .', 'any ineffective portions of net investment hedges are immediately recognized in earnings .', 'jpmorgan chase 2019s fair value hedges primarily include hedges of fixed-rate long-term debt , loans , afs securities and msrs .', 'interest rate swaps are the most common type of derivative contract used to modify exposure to interest rate risk , converting fixed-rate assets and liabilities to a floating rate .', 'interest rate options , swaptions and forwards are also used in combination with interest rate swaps to hedge the fair value of the firm 2019s msrs .', 'for a further discussion of msr risk management activities , see note 15 on pages 114 2013116 of this annual report .', 'all amounts have been included in earnings consistent with the classification of the hedged item , primarily net interest income , mortgage fees and related income , and other income .', 'the firm did not recognize any gains or losses during 2005 on firm commitments that no longer qualify as fair value hedges .', 'jpmorgan chase also enters into derivative contracts to hedge exposure to variability in cash flows from floating-rate financial instruments and forecasted transactions , primarily the rollover of short-term assets and liabilities , and foreign currency-denominated revenues and expenses .', 'interest rate swaps , futures and forward contracts are the most common instruments used to reduce the impact of interest rate and foreign exchange rate changes on future earnings .', 'all amounts affecting earnings have been recognized consistent with the classification of the hedged item , primarily net interest income .', 'the firm uses forward foreign exchange contracts and foreign currency- denominated debt instruments to protect the value of net investments in foreign currencies in non-u.s .', 'subsidiaries .', 'the portion of the hedging instru- ments excluded from the assessment of hedge effectiveness ( forward points ) is recorded in net interest income .', 'the following table presents derivative instrument hedging-related activities for the periods indicated : year ended december 31 , ( in millions ) ( a ) 2005 2004 fair value hedge ineffective net gains/ ( losses ) ( b ) $ ( 58 ) $ 199 cash flow hedge ineffective net gains/ ( losses ) ( b ) ( 2 ) 2014 cash flow hedging gains on forecasted transactions that failed to occur 2014 1 ( a ) 2004 results include six months of the combined firm 2019s results and six months of heritage jpmorgan chase results .', '( b ) includes ineffectiveness and the components of hedging instruments that have been excluded from the assessment of hedge effectiveness .', 'over the next 12 months , it is expected that $ 44 million ( after-tax ) of net gains recorded in other comprehensive income at december 31 , 2005 , will be recognized in earnings .', 'the maximum length of time over which forecasted transactions are hedged is 10 years , and such transactions primarily relate to core lending and borrowing activities .', 'jpmorgan chase does not seek to apply hedge accounting to all of the firm 2019s economic hedges .', 'for example , the firm does not apply hedge accounting to standard credit derivatives used to manage the credit risk of loans and commitments because of the difficulties in qualifying such contracts as hedges under sfas 133 .', 'similarly , the firm does not apply hedge accounting to certain interest rate derivatives used as economic hedges. .'] | 140.0 | JPM/2005/page_125.pdf-1 | ['jpmorgan chase & co .', '/ 2005 annual report 123 litigation reserve the firm maintains litigation reserves for certain of its litigations , including its material legal proceedings .', 'while the outcome of litigation is inherently uncertain , management believes , in light of all information known to it at december 31 , 2005 , that the firm 2019s litigation reserves were adequate at such date .', 'management reviews litigation reserves periodically , and the reserves may be increased or decreased in the future to reflect further litigation devel- opments .', 'the firm believes it has meritorious defenses to claims asserted against it in its currently outstanding litigation and , with respect to such liti- gation , intends to continue to defend itself vigorously , litigating or settling cases according to management 2019s judgment as to what is in the best interest of stockholders .', 'note 26 2013 accounting for derivative instruments and hedging activities derivative instruments enable end users to increase , reduce or alter exposure to credit or market risks .', 'the value of a derivative is derived from its reference to an underlying variable or combination of variables such as equity , foreign exchange , credit , commodity or interest rate prices or indices .', 'jpmorgan chase makes markets in derivatives for customers and also is an end-user of derivatives in order to manage the firm 2019s exposure to credit and market risks .', 'sfas 133 , as amended by sfas 138 and sfas 149 , establishes accounting and reporting standards for derivative instruments , including those used for trading and hedging activities , and derivative instruments embedded in other contracts .', 'all free-standing derivatives , whether designated for hedging rela- tionships or not , are required to be recorded on the balance sheet at fair value .', 'the accounting for changes in value of a derivative depends on whether the contract is for trading purposes or has been designated and qualifies for hedge accounting .', 'the majority of the firm 2019s derivatives are entered into for trading purposes .', 'the firm also uses derivatives as an end user to hedge market exposures , modify the interest rate characteristics of related balance sheet instruments or meet longer-term investment objectives .', 'both trading and end-user derivatives are recorded at fair value in trading assets and trading liabilities as set forth in note 3 on page 94 of this annual report .', 'in order to qualify for hedge accounting , a derivative must be considered highly effective at reducing the risk associated with the exposure being hedged .', 'each derivative must be designated as a hedge , with documentation of the risk management objective and strategy , including identification of the hedging instrument , the hedged item and the risk exposure , and how effectiveness is to be assessed prospectively and retrospectively .', 'the extent to which a hedging instrument is effective at achieving offsetting changes in fair value or cash flows must be assessed at least quarterly .', 'any ineffectiveness must be reported in current-period earnings .', 'for qualifying fair value hedges , all changes in the fair value of the derivative and in the fair value of the item for the risk being hedged are recognized in earnings .', 'if the hedge relationship is terminated , then the fair value adjust- ment to the hedged item continues to be reported as part of the basis of the item and is amortized to earnings as a yield adjustment .', 'for qualifying cash flow hedges , the effective portion of the change in the fair value of the derivative is recorded in other comprehensive income and recognized in the income statement when the hedged cash flows affect earnings .', 'the ineffective portions of cash flow hedges are immediately recognized in earnings .', 'if the hedge relationship is terminated , then the change in fair value of the derivative recorded in other comprehensive income is recognized when the cash flows that were hedged occur , consistent with the original hedge strategy .', 'for hedge relationships discontinued because the forecasted transaction is not expected to occur according to the original strategy , any related derivative amounts recorded in other comprehensive income are immediately recognized in earnings .', 'for qualifying net investment hedges , changes in the fair value of the derivative or the revaluation of the foreign currency 2013denominated debt instrument are recorded in the translation adjustments account within other comprehensive income .', 'any ineffective portions of net investment hedges are immediately recognized in earnings .', 'jpmorgan chase 2019s fair value hedges primarily include hedges of fixed-rate long-term debt , loans , afs securities and msrs .', 'interest rate swaps are the most common type of derivative contract used to modify exposure to interest rate risk , converting fixed-rate assets and liabilities to a floating rate .', 'interest rate options , swaptions and forwards are also used in combination with interest rate swaps to hedge the fair value of the firm 2019s msrs .', 'for a further discussion of msr risk management activities , see note 15 on pages 114 2013116 of this annual report .', 'all amounts have been included in earnings consistent with the classification of the hedged item , primarily net interest income , mortgage fees and related income , and other income .', 'the firm did not recognize any gains or losses during 2005 on firm commitments that no longer qualify as fair value hedges .', 'jpmorgan chase also enters into derivative contracts to hedge exposure to variability in cash flows from floating-rate financial instruments and forecasted transactions , primarily the rollover of short-term assets and liabilities , and foreign currency-denominated revenues and expenses .', 'interest rate swaps , futures and forward contracts are the most common instruments used to reduce the impact of interest rate and foreign exchange rate changes on future earnings .', 'all amounts affecting earnings have been recognized consistent with the classification of the hedged item , primarily net interest income .', 'the firm uses forward foreign exchange contracts and foreign currency- denominated debt instruments to protect the value of net investments in foreign currencies in non-u.s .', 'subsidiaries .', 'the portion of the hedging instru- ments excluded from the assessment of hedge effectiveness ( forward points ) is recorded in net interest income .', 'the following table presents derivative instrument hedging-related activities for the periods indicated : year ended december 31 , ( in millions ) ( a ) 2005 2004 fair value hedge ineffective net gains/ ( losses ) ( b ) $ ( 58 ) $ 199 cash flow hedge ineffective net gains/ ( losses ) ( b ) ( 2 ) 2014 cash flow hedging gains on forecasted transactions that failed to occur 2014 1 ( a ) 2004 results include six months of the combined firm 2019s results and six months of heritage jpmorgan chase results .', '( b ) includes ineffectiveness and the components of hedging instruments that have been excluded from the assessment of hedge effectiveness .', 'over the next 12 months , it is expected that $ 44 million ( after-tax ) of net gains recorded in other comprehensive income at december 31 , 2005 , will be recognized in earnings .', 'the maximum length of time over which forecasted transactions are hedged is 10 years , and such transactions primarily relate to core lending and borrowing activities .', 'jpmorgan chase does not seek to apply hedge accounting to all of the firm 2019s economic hedges .', 'for example , the firm does not apply hedge accounting to standard credit derivatives used to manage the credit risk of loans and commitments because of the difficulties in qualifying such contracts as hedges under sfas 133 .', 'similarly , the firm does not apply hedge accounting to certain interest rate derivatives used as economic hedges. .'] | ['jpmorgan chase & co .', '/ 2005 annual report 123 litigation reserve the firm maintains litigation reserves for certain of its litigations , including its material legal proceedings .', 'while the outcome of litigation is inherently uncertain , management believes , in light of all information known to it at december 31 , 2005 , that the firm 2019s litigation reserves were adequate at such date .', 'management reviews litigation reserves periodically , and the reserves may be increased or decreased in the future to reflect further litigation devel- opments .', 'the firm believes it has meritorious defenses to claims asserted against it in its currently outstanding litigation and , with respect to such liti- gation , intends to continue to defend itself vigorously , litigating or settling cases according to management 2019s judgment as to what is in the best interest of stockholders .', 'note 26 2013 accounting for derivative instruments and hedging activities derivative instruments enable end users to increase , reduce or alter exposure to credit or market risks .', 'the value of a derivative is derived from its reference to an underlying variable or combination of variables such as equity , foreign exchange , credit , commodity or interest rate prices or indices .', 'jpmorgan chase makes markets in derivatives for customers and also is an end-user of derivatives in order to manage the firm 2019s exposure to credit and market risks .', 'sfas 133 , as amended by sfas 138 and sfas 149 , establishes accounting and reporting standards for derivative instruments , including those used for trading and hedging activities , and derivative instruments embedded in other contracts .', 'all free-standing derivatives , whether designated for hedging rela- tionships or not , are required to be recorded on the balance sheet at fair value .', 'the accounting for changes in value of a derivative depends on whether the contract is for trading purposes or has been designated and qualifies for hedge accounting .', 'the majority of the firm 2019s derivatives are entered into for trading purposes .', 'the firm also uses derivatives as an end user to hedge market exposures , modify the interest rate characteristics of related balance sheet instruments or meet longer-term investment objectives .', 'both trading and end-user derivatives are recorded at fair value in trading assets and trading liabilities as set forth in note 3 on page 94 of this annual report .', 'in order to qualify for hedge accounting , a derivative must be considered highly effective at reducing the risk associated with the exposure being hedged .', 'each derivative must be designated as a hedge , with documentation of the risk management objective and strategy , including identification of the hedging instrument , the hedged item and the risk exposure , and how effectiveness is to be assessed prospectively and retrospectively .', 'the extent to which a hedging instrument is effective at achieving offsetting changes in fair value or cash flows must be assessed at least quarterly .', 'any ineffectiveness must be reported in current-period earnings .', 'for qualifying fair value hedges , all changes in the fair value of the derivative and in the fair value of the item for the risk being hedged are recognized in earnings .', 'if the hedge relationship is terminated , then the fair value adjust- ment to the hedged item continues to be reported as part of the basis of the item and is amortized to earnings as a yield adjustment .', 'for qualifying cash flow hedges , the effective portion of the change in the fair value of the derivative is recorded in other comprehensive income and recognized in the income statement when the hedged cash flows affect earnings .', 'the ineffective portions of cash flow hedges are immediately recognized in earnings .', 'if the hedge relationship is terminated , then the change in fair value of the derivative recorded in other comprehensive income is recognized when the cash flows that were hedged occur , consistent with the original hedge strategy .', 'for hedge relationships discontinued because the forecasted transaction is not expected to occur according to the original strategy , any related derivative amounts recorded in other comprehensive income are immediately recognized in earnings .', 'for qualifying net investment hedges , changes in the fair value of the derivative or the revaluation of the foreign currency 2013denominated debt instrument are recorded in the translation adjustments account within other comprehensive income .', 'any ineffective portions of net investment hedges are immediately recognized in earnings .', 'jpmorgan chase 2019s fair value hedges primarily include hedges of fixed-rate long-term debt , loans , afs securities and msrs .', 'interest rate swaps are the most common type of derivative contract used to modify exposure to interest rate risk , converting fixed-rate assets and liabilities to a floating rate .', 'interest rate options , swaptions and forwards are also used in combination with interest rate swaps to hedge the fair value of the firm 2019s msrs .', 'for a further discussion of msr risk management activities , see note 15 on pages 114 2013116 of this annual report .', 'all amounts have been included in earnings consistent with the classification of the hedged item , primarily net interest income , mortgage fees and related income , and other income .', 'the firm did not recognize any gains or losses during 2005 on firm commitments that no longer qualify as fair value hedges .', 'jpmorgan chase also enters into derivative contracts to hedge exposure to variability in cash flows from floating-rate financial instruments and forecasted transactions , primarily the rollover of short-term assets and liabilities , and foreign currency-denominated revenues and expenses .', 'interest rate swaps , futures and forward contracts are the most common instruments used to reduce the impact of interest rate and foreign exchange rate changes on future earnings .', 'all amounts affecting earnings have been recognized consistent with the classification of the hedged item , primarily net interest income .', 'the firm uses forward foreign exchange contracts and foreign currency- denominated debt instruments to protect the value of net investments in foreign currencies in non-u.s .', 'subsidiaries .', 'the portion of the hedging instru- ments excluded from the assessment of hedge effectiveness ( forward points ) is recorded in net interest income .', 'the following table presents derivative instrument hedging-related activities for the periods indicated : year ended december 31 , ( in millions ) ( a ) 2005 2004 fair value hedge ineffective net gains/ ( losses ) ( b ) $ ( 58 ) $ 199 cash flow hedge ineffective net gains/ ( losses ) ( b ) ( 2 ) 2014 cash flow hedging gains on forecasted transactions that failed to occur 2014 1 ( a ) 2004 results include six months of the combined firm 2019s results and six months of heritage jpmorgan chase results .', '( b ) includes ineffectiveness and the components of hedging instruments that have been excluded from the assessment of hedge effectiveness .', 'over the next 12 months , it is expected that $ 44 million ( after-tax ) of net gains recorded in other comprehensive income at december 31 , 2005 , will be recognized in earnings .', 'the maximum length of time over which forecasted transactions are hedged is 10 years , and such transactions primarily relate to core lending and borrowing activities .', 'jpmorgan chase does not seek to apply hedge accounting to all of the firm 2019s economic hedges .', 'for example , the firm does not apply hedge accounting to standard credit derivatives used to manage the credit risk of loans and commitments because of the difficulties in qualifying such contracts as hedges under sfas 133 .', 'similarly , the firm does not apply hedge accounting to certain interest rate derivatives used as economic hedges. .'] | ----------------------------------------
Row 1: year ended december 31 ( in millions ) ( a ), 2005, 2004
Row 2: fair value hedge ineffective net gains/ ( losses ) ( b ), $ -58 ( 58 ), $ 199
Row 3: cash flow hedge ineffective net gains/ ( losses ) ( b ), -2 ( 2 ), 2014
Row 4: cash flow hedging gains on forecastedtransactions that failed to occur, 2014, 1
---------------------------------------- | add(-58, 199), add(#0, -2), add(#1, 1) | 140.0 |
what was the percentage change in accrued warranties and related costs from 2005 to 2006? | Context: ['notes to consolidated financial statements ( continued ) note 8 2014commitments and contingencies ( continued ) the following table reconciles changes in the company 2019s accrued warranties and related costs ( in millions ) : .']
####
Data Table:
| 2007 | 2006 | 2005
beginning accrued warranty and related costs | $ 284 | $ 188 | $ 105
cost of warranty claims | -281 ( 281 ) | -267 ( 267 ) | -188 ( 188 )
accruals for product warranties | 227 | 363 | 271
ending accrued warranty and related costs | $ 230 | $ 284 | $ 188
####
Follow-up: ['the company generally does not indemnify end-users of its operating system and application software against legal claims that the software infringes third-party intellectual property rights .', 'other agreements entered into by the company sometimes include indemnification provisions under which the company could be subject to costs and/or damages in the event of an infringement claim against the company or an indemnified third-party .', 'however , the company has not been required to make any significant payments resulting from such an infringement claim asserted against itself or an indemnified third-party and , in the opinion of management , does not have a potential liability related to unresolved infringement claims subject to indemnification that would have a material adverse effect on its financial condition or operating results .', 'therefore , the company did not record a liability for infringement costs as of either september 29 , 2007 or september 30 , 2006 .', 'concentrations in the available sources of supply of materials and product certain key components including , but not limited to , microprocessors , enclosures , certain lcds , certain optical drives , and application-specific integrated circuits ( 2018 2018asics 2019 2019 ) are currently obtained by the company from single or limited sources which subjects the company to supply and pricing risks .', 'many of these and other key components that are available from multiple sources including , but not limited to , nand flash memory , dram memory , and certain lcds , are at times subject to industry-wide shortages and significant commodity pricing fluctuations .', 'in addition , the company has entered into certain agreements for the supply of critical components at favorable pricing , and there is no guarantee that the company will be able to extend or renew these agreements when they expire .', 'therefore , the company remains subject to significant risks of supply shortages and/or price increases that can adversely affect gross margins and operating margins .', 'in addition , the company uses some components that are not common to the rest of the global personal computer , consumer electronics and mobile communication industries , and new products introduced by the company often utilize custom components obtained from only one source until the company has evaluated whether there is a need for and subsequently qualifies additional suppliers .', 'if the supply of a key single-sourced component to the company were to be delayed or curtailed , or in the event a key manufacturing vendor delays shipments of completed products to the company , the company 2019s ability to ship related products in desired quantities and in a timely manner could be adversely affected .', 'the company 2019s business and financial performance could also be adversely affected depending on the time required to obtain sufficient quantities from the original source , or to identify and obtain sufficient quantities from an alternative source .', 'continued availability of these components may be affected if producers were to decide to concentrate on the production of common components instead of components customized to meet the company 2019s requirements .', 'finally , significant portions of the company 2019s cpus , ipods , iphones , logic boards , and other assembled products are now manufactured by outsourcing partners , primarily in various parts of asia .', 'a significant concentration of this outsourced manufacturing is currently performed by only a few of the company 2019s outsourcing partners , often in single locations .', 'certain of these outsourcing partners are the sole-sourced supplier of components and manufacturing outsourcing for many of the company 2019s key products , including but not limited to , assembly .'] | 0.51064 | AAPL/2007/page_84.pdf-1 | ['notes to consolidated financial statements ( continued ) note 8 2014commitments and contingencies ( continued ) the following table reconciles changes in the company 2019s accrued warranties and related costs ( in millions ) : .'] | ['the company generally does not indemnify end-users of its operating system and application software against legal claims that the software infringes third-party intellectual property rights .', 'other agreements entered into by the company sometimes include indemnification provisions under which the company could be subject to costs and/or damages in the event of an infringement claim against the company or an indemnified third-party .', 'however , the company has not been required to make any significant payments resulting from such an infringement claim asserted against itself or an indemnified third-party and , in the opinion of management , does not have a potential liability related to unresolved infringement claims subject to indemnification that would have a material adverse effect on its financial condition or operating results .', 'therefore , the company did not record a liability for infringement costs as of either september 29 , 2007 or september 30 , 2006 .', 'concentrations in the available sources of supply of materials and product certain key components including , but not limited to , microprocessors , enclosures , certain lcds , certain optical drives , and application-specific integrated circuits ( 2018 2018asics 2019 2019 ) are currently obtained by the company from single or limited sources which subjects the company to supply and pricing risks .', 'many of these and other key components that are available from multiple sources including , but not limited to , nand flash memory , dram memory , and certain lcds , are at times subject to industry-wide shortages and significant commodity pricing fluctuations .', 'in addition , the company has entered into certain agreements for the supply of critical components at favorable pricing , and there is no guarantee that the company will be able to extend or renew these agreements when they expire .', 'therefore , the company remains subject to significant risks of supply shortages and/or price increases that can adversely affect gross margins and operating margins .', 'in addition , the company uses some components that are not common to the rest of the global personal computer , consumer electronics and mobile communication industries , and new products introduced by the company often utilize custom components obtained from only one source until the company has evaluated whether there is a need for and subsequently qualifies additional suppliers .', 'if the supply of a key single-sourced component to the company were to be delayed or curtailed , or in the event a key manufacturing vendor delays shipments of completed products to the company , the company 2019s ability to ship related products in desired quantities and in a timely manner could be adversely affected .', 'the company 2019s business and financial performance could also be adversely affected depending on the time required to obtain sufficient quantities from the original source , or to identify and obtain sufficient quantities from an alternative source .', 'continued availability of these components may be affected if producers were to decide to concentrate on the production of common components instead of components customized to meet the company 2019s requirements .', 'finally , significant portions of the company 2019s cpus , ipods , iphones , logic boards , and other assembled products are now manufactured by outsourcing partners , primarily in various parts of asia .', 'a significant concentration of this outsourced manufacturing is currently performed by only a few of the company 2019s outsourcing partners , often in single locations .', 'certain of these outsourcing partners are the sole-sourced supplier of components and manufacturing outsourcing for many of the company 2019s key products , including but not limited to , assembly .'] | | 2007 | 2006 | 2005
beginning accrued warranty and related costs | $ 284 | $ 188 | $ 105
cost of warranty claims | -281 ( 281 ) | -267 ( 267 ) | -188 ( 188 )
accruals for product warranties | 227 | 363 | 271
ending accrued warranty and related costs | $ 230 | $ 284 | $ 188 | subtract(284, 188), divide(#0, 188) | 0.51064 |
Subsets and Splits
No saved queries yet
Save your SQL queries to embed, download, and access them later. Queries will appear here once saved.