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what is the roi of nasdaq composite from 2008 to 2012? | Background: ['stockholder return performance graphs the following graph compares the cumulative 5-year total stockholder return on our common stock relative to the cumulative total return of the nasdaq composite index and the s&p 400 information technology index .', 'the graph assumes that the value of the investment in our common stock and in each index ( including reinvestment of dividends ) was $ 100 on december 29 , 2007 and tracks it through december 29 , 2012 .', 'comparison of 5 year cumulative total return* among cadence design systems , inc. , the nasdaq composite index , and s&p 400 information technology cadence design systems , inc .', 'nasdaq composite s&p 400 information technology 12/29/1212/31/111/1/111/2/101/3/0912/29/07 *$ 100 invested on 12/29/07 in stock or 12/31/07 in index , including reinvestment of dividends .', 'indexes calculated on month-end basis .', 'copyright a9 2013 s&p , a division of the mcgraw-hill companies inc .', 'all rights reserved. .']
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Tabular Data:
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12/29/2007 1/3/2009 1/2/2010 1/1/2011 12/31/2011 12/29/2012
cadence design systems inc . 100.00 22.55 35.17 48.50 61.07 78.92
nasdaq composite 100.00 59.03 82.25 97.32 98.63 110.78
s&p 400 information technology 100.00 54.60 82.76 108.11 95.48 109.88
========================================
####
Follow-up: ['the stock price performance included in this graph is not necessarily indicative of future stock price performance .'] | 0.1078 | CDNS/2012/page_30.pdf-3 | ['stockholder return performance graphs the following graph compares the cumulative 5-year total stockholder return on our common stock relative to the cumulative total return of the nasdaq composite index and the s&p 400 information technology index .', 'the graph assumes that the value of the investment in our common stock and in each index ( including reinvestment of dividends ) was $ 100 on december 29 , 2007 and tracks it through december 29 , 2012 .', 'comparison of 5 year cumulative total return* among cadence design systems , inc. , the nasdaq composite index , and s&p 400 information technology cadence design systems , inc .', 'nasdaq composite s&p 400 information technology 12/29/1212/31/111/1/111/2/101/3/0912/29/07 *$ 100 invested on 12/29/07 in stock or 12/31/07 in index , including reinvestment of dividends .', 'indexes calculated on month-end basis .', 'copyright a9 2013 s&p , a division of the mcgraw-hill companies inc .', 'all rights reserved. .'] | ['the stock price performance included in this graph is not necessarily indicative of future stock price performance .'] | ========================================
12/29/2007 1/3/2009 1/2/2010 1/1/2011 12/31/2011 12/29/2012
cadence design systems inc . 100.00 22.55 35.17 48.50 61.07 78.92
nasdaq composite 100.00 59.03 82.25 97.32 98.63 110.78
s&p 400 information technology 100.00 54.60 82.76 108.11 95.48 109.88
======================================== | subtract(110.78, const_100), divide(#0, const_100) | 0.1078 |
what is the return on investment for s&p500 from 2007 to 2008? | Pre-text: ['item 5 .', 'market for the registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities the following graph compares annual total return of our common stock , the standard & poor 2019s 500 composite stock index ( 201cs&p 500 index 201d ) and our peer group ( 201cloews peer group 201d ) for the five years ended december 31 , 2009 .', 'the graph assumes that the value of the investment in our common stock , the s&p 500 index and the loews peer group was $ 100 on december 31 , 2004 and that all dividends were reinvested. .']
Data Table:
, 2004, 2005, 2006, 2007, 2008, 2009
loews common stock, 100.00, 135.92, 179.47, 219.01, 123.70, 160.62
s&p 500 index, 100.00, 104.91, 121.48, 128.16, 80.74, 102.11
loews peer group ( a ), 100.00, 133.59, 152.24, 174.46, 106.30, 136.35
Follow-up: ['( a ) the loews peer group consists of the following companies that are industry competitors of our principal operating subsidiaries : ace limited , w.r .', 'berkley corporation , cabot oil & gas corporation , the chubb corporation , energy transfer partners l.p. , ensco international incorporated , the hartford financial services group , inc. , kinder morgan energy partners , l.p. , noble corporation , range resources corporation , spectra energy corporation ( included from december 14 , 2006 when it began trading ) , transocean , ltd .', 'and the travelers companies , inc .', 'dividend information we have paid quarterly cash dividends on loews common stock in each year since 1967 .', 'regular dividends of $ 0.0625 per share of loews common stock were paid in each calendar quarter of 2009 and 2008 .', 'we paid quarterly cash dividends on the former carolina group stock until the separation .', 'regular dividends of $ 0.455 per share of the former carolina group stock were paid in the first and second quarters of 2008. .'] | -0.37001 | L/2009/page_84.pdf-2 | ['item 5 .', 'market for the registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities the following graph compares annual total return of our common stock , the standard & poor 2019s 500 composite stock index ( 201cs&p 500 index 201d ) and our peer group ( 201cloews peer group 201d ) for the five years ended december 31 , 2009 .', 'the graph assumes that the value of the investment in our common stock , the s&p 500 index and the loews peer group was $ 100 on december 31 , 2004 and that all dividends were reinvested. .'] | ['( a ) the loews peer group consists of the following companies that are industry competitors of our principal operating subsidiaries : ace limited , w.r .', 'berkley corporation , cabot oil & gas corporation , the chubb corporation , energy transfer partners l.p. , ensco international incorporated , the hartford financial services group , inc. , kinder morgan energy partners , l.p. , noble corporation , range resources corporation , spectra energy corporation ( included from december 14 , 2006 when it began trading ) , transocean , ltd .', 'and the travelers companies , inc .', 'dividend information we have paid quarterly cash dividends on loews common stock in each year since 1967 .', 'regular dividends of $ 0.0625 per share of loews common stock were paid in each calendar quarter of 2009 and 2008 .', 'we paid quarterly cash dividends on the former carolina group stock until the separation .', 'regular dividends of $ 0.455 per share of the former carolina group stock were paid in the first and second quarters of 2008. .'] | , 2004, 2005, 2006, 2007, 2008, 2009
loews common stock, 100.00, 135.92, 179.47, 219.01, 123.70, 160.62
s&p 500 index, 100.00, 104.91, 121.48, 128.16, 80.74, 102.11
loews peer group ( a ), 100.00, 133.59, 152.24, 174.46, 106.30, 136.35 | subtract(80.74, 128.16), divide(#0, 128.16) | -0.37001 |
what is the net change in the other retained interests not reflected in the table during 2018 , in millions? | Background: ['the goldman sachs group , inc .', 'and subsidiaries notes to consolidated financial statements 2030 purchased interests represent senior and subordinated interests , purchased in connection with secondary market-making activities , in securitization entities in which the firm also holds retained interests .', '2030 substantially all of the total outstanding principal amount and total retained interests relate to securitizations during 2014 and thereafter as of december 2018 , and relate to securitizations during 2012 and thereafter as of december 2017 .', '2030 the fair value of retained interests was $ 3.28 billion as of december 2018 and $ 2.13 billion as of december 2017 .', 'in addition to the interests in the table above , the firm had other continuing involvement in the form of derivative transactions and commitments with certain nonconsolidated vies .', 'the carrying value of these derivatives and commitments was a net asset of $ 75 million as of december 2018 and $ 86 million as of december 2017 , and the notional amount of these derivatives and commitments was $ 1.09 billion as of december 2018 and $ 1.26 billion as of december 2017 .', 'the notional amounts of these derivatives and commitments are included in maximum exposure to loss in the nonconsolidated vie table in note 12 .', 'the table below presents information about the weighted average key economic assumptions used in measuring the fair value of mortgage-backed retained interests. .']
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Tabular Data:
Row 1: $ in millions, as of december 2018, as of december 2017
Row 2: fair value of retained interests, $ 3151, $ 2071
Row 3: weighted average life ( years ), 7.2, 6.0
Row 4: constant prepayment rate, 11.9% ( 11.9 % ), 9.4% ( 9.4 % )
Row 5: impact of 10% ( 10 % ) adverse change, $ -27 ( 27 ), $ -19 ( 19 )
Row 6: impact of 20% ( 20 % ) adverse change, $ -53 ( 53 ), $ -35 ( 35 )
Row 7: discount rate, 4.7% ( 4.7 % ), 4.2% ( 4.2 % )
Row 8: impact of 10% ( 10 % ) adverse change, $ -75 ( 75 ), $ -35 ( 35 )
Row 9: impact of 20% ( 20 % ) adverse change, $ -147 ( 147 ), $ -70 ( 70 )
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Follow-up: ['in the table above : 2030 amounts do not reflect the benefit of other financial instruments that are held to mitigate risks inherent in these retained interests .', '2030 changes in fair value based on an adverse variation in assumptions generally cannot be extrapolated because the relationship of the change in assumptions to the change in fair value is not usually linear .', '2030 the impact of a change in a particular assumption is calculated independently of changes in any other assumption .', 'in practice , simultaneous changes in assumptions might magnify or counteract the sensitivities disclosed above .', '2030 the constant prepayment rate is included only for positions for which it is a key assumption in the determination of fair value .', '2030 the discount rate for retained interests that relate to u.s .', 'government agency-issued collateralized mortgage obligations does not include any credit loss .', 'expected credit loss assumptions are reflected in the discount rate for the remainder of retained interests .', 'the firm has other retained interests not reflected in the table above with a fair value of $ 133 million and a weighted average life of 4.2 years as of december 2018 , and a fair value of $ 56 million and a weighted average life of 4.5 years as of december 2017 .', 'due to the nature and fair value of certain of these retained interests , the weighted average assumptions for constant prepayment and discount rates and the related sensitivity to adverse changes are not meaningful as of both december 2018 and december 2017 .', 'the firm 2019s maximum exposure to adverse changes in the value of these interests is the carrying value of $ 133 million as of december 2018 and $ 56 million as of december 2017 .', 'note 12 .', 'variable interest entities a variable interest in a vie is an investment ( e.g. , debt or equity ) or other interest ( e.g. , derivatives or loans and lending commitments ) that will absorb portions of the vie 2019s expected losses and/or receive portions of the vie 2019s expected residual returns .', 'the firm 2019s variable interests in vies include senior and subordinated debt ; loans and lending commitments ; limited and general partnership interests ; preferred and common equity ; derivatives that may include foreign currency , equity and/or credit risk ; guarantees ; and certain of the fees the firm receives from investment funds .', 'certain interest rate , foreign currency and credit derivatives the firm enters into with vies are not variable interests because they create , rather than absorb , risk .', 'vies generally finance the purchase of assets by issuing debt and equity securities that are either collateralized by or indexed to the assets held by the vie .', 'the debt and equity securities issued by a vie may include tranches of varying levels of subordination .', 'the firm 2019s involvement with vies includes securitization of financial assets , as described in note 11 , and investments in and loans to other types of vies , as described below .', 'see note 11 for further information about securitization activities , including the definition of beneficial interests .', 'see note 3 for the firm 2019s consolidation policies , including the definition of a vie .', 'goldman sachs 2018 form 10-k 149 .'] | 77.0 | GS/2018/page_165.pdf-3 | ['the goldman sachs group , inc .', 'and subsidiaries notes to consolidated financial statements 2030 purchased interests represent senior and subordinated interests , purchased in connection with secondary market-making activities , in securitization entities in which the firm also holds retained interests .', '2030 substantially all of the total outstanding principal amount and total retained interests relate to securitizations during 2014 and thereafter as of december 2018 , and relate to securitizations during 2012 and thereafter as of december 2017 .', '2030 the fair value of retained interests was $ 3.28 billion as of december 2018 and $ 2.13 billion as of december 2017 .', 'in addition to the interests in the table above , the firm had other continuing involvement in the form of derivative transactions and commitments with certain nonconsolidated vies .', 'the carrying value of these derivatives and commitments was a net asset of $ 75 million as of december 2018 and $ 86 million as of december 2017 , and the notional amount of these derivatives and commitments was $ 1.09 billion as of december 2018 and $ 1.26 billion as of december 2017 .', 'the notional amounts of these derivatives and commitments are included in maximum exposure to loss in the nonconsolidated vie table in note 12 .', 'the table below presents information about the weighted average key economic assumptions used in measuring the fair value of mortgage-backed retained interests. .'] | ['in the table above : 2030 amounts do not reflect the benefit of other financial instruments that are held to mitigate risks inherent in these retained interests .', '2030 changes in fair value based on an adverse variation in assumptions generally cannot be extrapolated because the relationship of the change in assumptions to the change in fair value is not usually linear .', '2030 the impact of a change in a particular assumption is calculated independently of changes in any other assumption .', 'in practice , simultaneous changes in assumptions might magnify or counteract the sensitivities disclosed above .', '2030 the constant prepayment rate is included only for positions for which it is a key assumption in the determination of fair value .', '2030 the discount rate for retained interests that relate to u.s .', 'government agency-issued collateralized mortgage obligations does not include any credit loss .', 'expected credit loss assumptions are reflected in the discount rate for the remainder of retained interests .', 'the firm has other retained interests not reflected in the table above with a fair value of $ 133 million and a weighted average life of 4.2 years as of december 2018 , and a fair value of $ 56 million and a weighted average life of 4.5 years as of december 2017 .', 'due to the nature and fair value of certain of these retained interests , the weighted average assumptions for constant prepayment and discount rates and the related sensitivity to adverse changes are not meaningful as of both december 2018 and december 2017 .', 'the firm 2019s maximum exposure to adverse changes in the value of these interests is the carrying value of $ 133 million as of december 2018 and $ 56 million as of december 2017 .', 'note 12 .', 'variable interest entities a variable interest in a vie is an investment ( e.g. , debt or equity ) or other interest ( e.g. , derivatives or loans and lending commitments ) that will absorb portions of the vie 2019s expected losses and/or receive portions of the vie 2019s expected residual returns .', 'the firm 2019s variable interests in vies include senior and subordinated debt ; loans and lending commitments ; limited and general partnership interests ; preferred and common equity ; derivatives that may include foreign currency , equity and/or credit risk ; guarantees ; and certain of the fees the firm receives from investment funds .', 'certain interest rate , foreign currency and credit derivatives the firm enters into with vies are not variable interests because they create , rather than absorb , risk .', 'vies generally finance the purchase of assets by issuing debt and equity securities that are either collateralized by or indexed to the assets held by the vie .', 'the debt and equity securities issued by a vie may include tranches of varying levels of subordination .', 'the firm 2019s involvement with vies includes securitization of financial assets , as described in note 11 , and investments in and loans to other types of vies , as described below .', 'see note 11 for further information about securitization activities , including the definition of beneficial interests .', 'see note 3 for the firm 2019s consolidation policies , including the definition of a vie .', 'goldman sachs 2018 form 10-k 149 .'] | Row 1: $ in millions, as of december 2018, as of december 2017
Row 2: fair value of retained interests, $ 3151, $ 2071
Row 3: weighted average life ( years ), 7.2, 6.0
Row 4: constant prepayment rate, 11.9% ( 11.9 % ), 9.4% ( 9.4 % )
Row 5: impact of 10% ( 10 % ) adverse change, $ -27 ( 27 ), $ -19 ( 19 )
Row 6: impact of 20% ( 20 % ) adverse change, $ -53 ( 53 ), $ -35 ( 35 )
Row 7: discount rate, 4.7% ( 4.7 % ), 4.2% ( 4.2 % )
Row 8: impact of 10% ( 10 % ) adverse change, $ -75 ( 75 ), $ -35 ( 35 )
Row 9: impact of 20% ( 20 % ) adverse change, $ -147 ( 147 ), $ -70 ( 70 ) | subtract(133, 56) | 77.0 |
by how many basis points did net interest yield on average interest-earning assets 2013 managed basis improve form 2016 to 2017?\\n | Pre-text: ['management 2019s discussion and analysis 58 jpmorgan chase & co./2018 form 10-k net interest income and net yield excluding cib 2019s markets businesses in addition to reviewing net interest income and the net interest yield on a managed basis , management also reviews these metrics excluding cib 2019s markets businesses , as shown below ; these metrics , which exclude cib 2019s markets businesses , are non-gaap financial measures .', 'management reviews these metrics to assess the performance of the firm 2019s lending , investing ( including asset-liability management ) and deposit-raising activities .', 'the resulting metrics that exclude cib 2019s markets businesses are referred to as non-markets-related net interest income and net yield .', 'cib 2019s markets businesses are fixed income markets and equity markets .', 'management believes that disclosure of non-markets-related net interest income and net yield provides investors and analysts with other measures by which to analyze the non-markets-related business trends of the firm and provides a comparable measure to other financial institutions that are primarily focused on lending , investing and deposit-raising activities .', 'year ended december 31 , ( in millions , except rates ) 2018 2017 2016 net interest income 2013 managed basis ( a ) ( b ) $ 55687 $ 51410 $ 47292 less : cib markets net interest income ( c ) 3087 4630 6334 net interest income excluding cib markets ( a ) $ 52600 $ 46780 $ 40958 average interest-earning assets $ 2229188 $ 2180592 $ 2101604 less : average cib markets interest-earning assets ( c ) 609635 540835 520307 average interest-earning assets excluding cib markets $ 1619553 $ 1639757 $ 1581297 net interest yield on average interest-earning assets 2013 managed basis 2.50% ( 2.50 % ) 2.36% ( 2.36 % ) 2.25% ( 2.25 % ) net interest yield on average cib markets interest-earning assets ( c ) 0.51 0.86 1.22 net interest yield on average interest-earning assets excluding cib markets 3.25% ( 3.25 % ) 2.85% ( 2.85 % ) 2.59% ( 2.59 % ) ( a ) interest includes the effect of related hedges .', 'taxable-equivalent amounts are used where applicable .', '( b ) for a reconciliation of net interest income on a reported and managed basis , refer to reconciliation from the firm 2019s reported u.s .', 'gaap results to managed basis on page 57 .', '( c ) for further information on cib 2019s markets businesses , refer to page 69 .', 'calculation of certain u.s .', 'gaap and non-gaap financial measures certain u.s .', 'gaap and non-gaap financial measures are calculated as follows : book value per share ( 201cbvps 201d ) common stockholders 2019 equity at period-end / common shares at period-end overhead ratio total noninterest expense / total net revenue return on assets ( 201croa 201d ) reported net income / total average assets return on common equity ( 201croe 201d ) net income* / average common stockholders 2019 equity return on tangible common equity ( 201crotce 201d ) net income* / average tangible common equity tangible book value per share ( 201ctbvps 201d ) tangible common equity at period-end / common shares at period-end * represents net income applicable to common equity the firm also reviews adjusted expense , which is noninterest expense excluding firmwide legal expense and is therefore a non-gaap financial measure .', 'additionally , certain credit metrics and ratios disclosed by the firm exclude pci loans , and are therefore non-gaap measures .', 'management believes these measures help investors understand the effect of these items on reported results and provide an alternate presentation of the firm 2019s performance .', 'for additional information on credit metrics and ratios excluding pci loans , refer to credit and investment risk management on pages 102-123. .']
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Table:
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year ended december 31 ( in millions except rates ) | 2018 | 2017 | 2016
net interest income 2013 managed basis ( a ) ( b ) | $ 55687 | $ 51410 | $ 47292
less : cib markets net interest income ( c ) | 3087 | 4630 | 6334
net interest income excluding cib markets ( a ) | $ 52600 | $ 46780 | $ 40958
average interest-earning assets | $ 2229188 | $ 2180592 | $ 2101604
less : average cib markets interest-earning assets ( c ) | 609635 | 540835 | 520307
average interest-earning assets excluding cib markets | $ 1619553 | $ 1639757 | $ 1581297
net interest yield on average interest-earning assets 2013 managed basis | 2.50% ( 2.50 % ) | 2.36% ( 2.36 % ) | 2.25% ( 2.25 % )
net interest yield on average cib markets interest-earning assets ( c ) | 0.51 | 0.86 | 1.22
net interest yield on average interest-earning assets excluding cib markets | 3.25% ( 3.25 % ) | 2.85% ( 2.85 % ) | 2.59% ( 2.59 % )
========================================
##########
Follow-up: ['management 2019s discussion and analysis 58 jpmorgan chase & co./2018 form 10-k net interest income and net yield excluding cib 2019s markets businesses in addition to reviewing net interest income and the net interest yield on a managed basis , management also reviews these metrics excluding cib 2019s markets businesses , as shown below ; these metrics , which exclude cib 2019s markets businesses , are non-gaap financial measures .', 'management reviews these metrics to assess the performance of the firm 2019s lending , investing ( including asset-liability management ) and deposit-raising activities .', 'the resulting metrics that exclude cib 2019s markets businesses are referred to as non-markets-related net interest income and net yield .', 'cib 2019s markets businesses are fixed income markets and equity markets .', 'management believes that disclosure of non-markets-related net interest income and net yield provides investors and analysts with other measures by which to analyze the non-markets-related business trends of the firm and provides a comparable measure to other financial institutions that are primarily focused on lending , investing and deposit-raising activities .', 'year ended december 31 , ( in millions , except rates ) 2018 2017 2016 net interest income 2013 managed basis ( a ) ( b ) $ 55687 $ 51410 $ 47292 less : cib markets net interest income ( c ) 3087 4630 6334 net interest income excluding cib markets ( a ) $ 52600 $ 46780 $ 40958 average interest-earning assets $ 2229188 $ 2180592 $ 2101604 less : average cib markets interest-earning assets ( c ) 609635 540835 520307 average interest-earning assets excluding cib markets $ 1619553 $ 1639757 $ 1581297 net interest yield on average interest-earning assets 2013 managed basis 2.50% ( 2.50 % ) 2.36% ( 2.36 % ) 2.25% ( 2.25 % ) net interest yield on average cib markets interest-earning assets ( c ) 0.51 0.86 1.22 net interest yield on average interest-earning assets excluding cib markets 3.25% ( 3.25 % ) 2.85% ( 2.85 % ) 2.59% ( 2.59 % ) ( a ) interest includes the effect of related hedges .', 'taxable-equivalent amounts are used where applicable .', '( b ) for a reconciliation of net interest income on a reported and managed basis , refer to reconciliation from the firm 2019s reported u.s .', 'gaap results to managed basis on page 57 .', '( c ) for further information on cib 2019s markets businesses , refer to page 69 .', 'calculation of certain u.s .', 'gaap and non-gaap financial measures certain u.s .', 'gaap and non-gaap financial measures are calculated as follows : book value per share ( 201cbvps 201d ) common stockholders 2019 equity at period-end / common shares at period-end overhead ratio total noninterest expense / total net revenue return on assets ( 201croa 201d ) reported net income / total average assets return on common equity ( 201croe 201d ) net income* / average common stockholders 2019 equity return on tangible common equity ( 201crotce 201d ) net income* / average tangible common equity tangible book value per share ( 201ctbvps 201d ) tangible common equity at period-end / common shares at period-end * represents net income applicable to common equity the firm also reviews adjusted expense , which is noninterest expense excluding firmwide legal expense and is therefore a non-gaap financial measure .', 'additionally , certain credit metrics and ratios disclosed by the firm exclude pci loans , and are therefore non-gaap measures .', 'management believes these measures help investors understand the effect of these items on reported results and provide an alternate presentation of the firm 2019s performance .', 'for additional information on credit metrics and ratios excluding pci loans , refer to credit and investment risk management on pages 102-123. .'] | 11.0 | JPM/2018/page_90.pdf-5 | ['management 2019s discussion and analysis 58 jpmorgan chase & co./2018 form 10-k net interest income and net yield excluding cib 2019s markets businesses in addition to reviewing net interest income and the net interest yield on a managed basis , management also reviews these metrics excluding cib 2019s markets businesses , as shown below ; these metrics , which exclude cib 2019s markets businesses , are non-gaap financial measures .', 'management reviews these metrics to assess the performance of the firm 2019s lending , investing ( including asset-liability management ) and deposit-raising activities .', 'the resulting metrics that exclude cib 2019s markets businesses are referred to as non-markets-related net interest income and net yield .', 'cib 2019s markets businesses are fixed income markets and equity markets .', 'management believes that disclosure of non-markets-related net interest income and net yield provides investors and analysts with other measures by which to analyze the non-markets-related business trends of the firm and provides a comparable measure to other financial institutions that are primarily focused on lending , investing and deposit-raising activities .', 'year ended december 31 , ( in millions , except rates ) 2018 2017 2016 net interest income 2013 managed basis ( a ) ( b ) $ 55687 $ 51410 $ 47292 less : cib markets net interest income ( c ) 3087 4630 6334 net interest income excluding cib markets ( a ) $ 52600 $ 46780 $ 40958 average interest-earning assets $ 2229188 $ 2180592 $ 2101604 less : average cib markets interest-earning assets ( c ) 609635 540835 520307 average interest-earning assets excluding cib markets $ 1619553 $ 1639757 $ 1581297 net interest yield on average interest-earning assets 2013 managed basis 2.50% ( 2.50 % ) 2.36% ( 2.36 % ) 2.25% ( 2.25 % ) net interest yield on average cib markets interest-earning assets ( c ) 0.51 0.86 1.22 net interest yield on average interest-earning assets excluding cib markets 3.25% ( 3.25 % ) 2.85% ( 2.85 % ) 2.59% ( 2.59 % ) ( a ) interest includes the effect of related hedges .', 'taxable-equivalent amounts are used where applicable .', '( b ) for a reconciliation of net interest income on a reported and managed basis , refer to reconciliation from the firm 2019s reported u.s .', 'gaap results to managed basis on page 57 .', '( c ) for further information on cib 2019s markets businesses , refer to page 69 .', 'calculation of certain u.s .', 'gaap and non-gaap financial measures certain u.s .', 'gaap and non-gaap financial measures are calculated as follows : book value per share ( 201cbvps 201d ) common stockholders 2019 equity at period-end / common shares at period-end overhead ratio total noninterest expense / total net revenue return on assets ( 201croa 201d ) reported net income / total average assets return on common equity ( 201croe 201d ) net income* / average common stockholders 2019 equity return on tangible common equity ( 201crotce 201d ) net income* / average tangible common equity tangible book value per share ( 201ctbvps 201d ) tangible common equity at period-end / common shares at period-end * represents net income applicable to common equity the firm also reviews adjusted expense , which is noninterest expense excluding firmwide legal expense and is therefore a non-gaap financial measure .', 'additionally , certain credit metrics and ratios disclosed by the firm exclude pci loans , and are therefore non-gaap measures .', 'management believes these measures help investors understand the effect of these items on reported results and provide an alternate presentation of the firm 2019s performance .', 'for additional information on credit metrics and ratios excluding pci loans , refer to credit and investment risk management on pages 102-123. .'] | ['management 2019s discussion and analysis 58 jpmorgan chase & co./2018 form 10-k net interest income and net yield excluding cib 2019s markets businesses in addition to reviewing net interest income and the net interest yield on a managed basis , management also reviews these metrics excluding cib 2019s markets businesses , as shown below ; these metrics , which exclude cib 2019s markets businesses , are non-gaap financial measures .', 'management reviews these metrics to assess the performance of the firm 2019s lending , investing ( including asset-liability management ) and deposit-raising activities .', 'the resulting metrics that exclude cib 2019s markets businesses are referred to as non-markets-related net interest income and net yield .', 'cib 2019s markets businesses are fixed income markets and equity markets .', 'management believes that disclosure of non-markets-related net interest income and net yield provides investors and analysts with other measures by which to analyze the non-markets-related business trends of the firm and provides a comparable measure to other financial institutions that are primarily focused on lending , investing and deposit-raising activities .', 'year ended december 31 , ( in millions , except rates ) 2018 2017 2016 net interest income 2013 managed basis ( a ) ( b ) $ 55687 $ 51410 $ 47292 less : cib markets net interest income ( c ) 3087 4630 6334 net interest income excluding cib markets ( a ) $ 52600 $ 46780 $ 40958 average interest-earning assets $ 2229188 $ 2180592 $ 2101604 less : average cib markets interest-earning assets ( c ) 609635 540835 520307 average interest-earning assets excluding cib markets $ 1619553 $ 1639757 $ 1581297 net interest yield on average interest-earning assets 2013 managed basis 2.50% ( 2.50 % ) 2.36% ( 2.36 % ) 2.25% ( 2.25 % ) net interest yield on average cib markets interest-earning assets ( c ) 0.51 0.86 1.22 net interest yield on average interest-earning assets excluding cib markets 3.25% ( 3.25 % ) 2.85% ( 2.85 % ) 2.59% ( 2.59 % ) ( a ) interest includes the effect of related hedges .', 'taxable-equivalent amounts are used where applicable .', '( b ) for a reconciliation of net interest income on a reported and managed basis , refer to reconciliation from the firm 2019s reported u.s .', 'gaap results to managed basis on page 57 .', '( c ) for further information on cib 2019s markets businesses , refer to page 69 .', 'calculation of certain u.s .', 'gaap and non-gaap financial measures certain u.s .', 'gaap and non-gaap financial measures are calculated as follows : book value per share ( 201cbvps 201d ) common stockholders 2019 equity at period-end / common shares at period-end overhead ratio total noninterest expense / total net revenue return on assets ( 201croa 201d ) reported net income / total average assets return on common equity ( 201croe 201d ) net income* / average common stockholders 2019 equity return on tangible common equity ( 201crotce 201d ) net income* / average tangible common equity tangible book value per share ( 201ctbvps 201d ) tangible common equity at period-end / common shares at period-end * represents net income applicable to common equity the firm also reviews adjusted expense , which is noninterest expense excluding firmwide legal expense and is therefore a non-gaap financial measure .', 'additionally , certain credit metrics and ratios disclosed by the firm exclude pci loans , and are therefore non-gaap measures .', 'management believes these measures help investors understand the effect of these items on reported results and provide an alternate presentation of the firm 2019s performance .', 'for additional information on credit metrics and ratios excluding pci loans , refer to credit and investment risk management on pages 102-123. .'] | ========================================
year ended december 31 ( in millions except rates ) | 2018 | 2017 | 2016
net interest income 2013 managed basis ( a ) ( b ) | $ 55687 | $ 51410 | $ 47292
less : cib markets net interest income ( c ) | 3087 | 4630 | 6334
net interest income excluding cib markets ( a ) | $ 52600 | $ 46780 | $ 40958
average interest-earning assets | $ 2229188 | $ 2180592 | $ 2101604
less : average cib markets interest-earning assets ( c ) | 609635 | 540835 | 520307
average interest-earning assets excluding cib markets | $ 1619553 | $ 1639757 | $ 1581297
net interest yield on average interest-earning assets 2013 managed basis | 2.50% ( 2.50 % ) | 2.36% ( 2.36 % ) | 2.25% ( 2.25 % )
net interest yield on average cib markets interest-earning assets ( c ) | 0.51 | 0.86 | 1.22
net interest yield on average interest-earning assets excluding cib markets | 3.25% ( 3.25 % ) | 2.85% ( 2.85 % ) | 2.59% ( 2.59 % )
======================================== | subtract(2.36, 2.25), multiply(#0, const_100) | 11.0 |
what percentage of total unrecognized tax benefits as of december 31 , 2007 is comprised of deferred taxes and other liabilities? | Pre-text: ['page 62 of 94 notes to consolidated financial statements ball corporation and subsidiaries 14 .', 'taxes on income ( continued ) at december 31 , 2007 , ball corporation and its domestic subsidiaries had net operating loss carryforwards , expiring between 2020 and 2026 , of $ 64.6 million with a related tax benefit of $ 25.2 million .', 'also at december 31 , 2007 , ball packaging europe and its subsidiaries had net operating loss carryforwards , with no expiration date , of $ 54.4 million with a related tax benefit of $ 14.6 million .', 'ball packaging products canada corp .', 'had a net operating loss carryforward , with no expiration date , of $ 15.8 million with a related tax benefit of $ 5.4 million .', 'due to the uncertainty of ultimate realization , these european and canadian benefits have been offset by valuation allowances of $ 8.6 million and $ 5.4 million , respectively .', 'upon realization , $ 5.3 million of the european valuation allowance will be recognized as a reduction in goodwill .', 'at december 31 , 2007 , the company has foreign tax credit carryforwards of $ 5.8 million ; however , due to the uncertainty of realization of the entire credit , a valuation allowance of $ 3.8 million has been applied to reduce the carrying value to $ 2 million .', 'effective january 1 , 2007 , ball adopted fin no .', '48 , 201caccounting for uncertainty in income taxes . 201d as of the date of adoption , the accrual for uncertain tax position was $ 45.8 million , and the cumulative effect of the adoption was an increase in the reserve for uncertain tax positions of $ 2.1 million .', 'the accrual includes an $ 11.4 million reduction in opening retained earnings and a $ 9.3 million reduction in goodwill .', 'a reconciliation of the unrecognized tax benefits follows : ( $ in millions ) as adjusted for accounting change .']
######
Table:
----------------------------------------
( $ in millions ), as adjusted for accounting change
balance at january 1 2007, $ 45.8
additions based on tax positions related to the current year, 3.9
additions for tax positions of prior years, 7.6
reductions for settlements, -18.4 ( 18.4 )
effect of foreign currency exchange rates, 2.2
balance at december 31 2007, $ 41.1
balance sheet classification:,
income taxes payable, $ 4.2
deferred taxes and other liabilities, 36.9
total, $ 41.1
----------------------------------------
######
Follow-up: ['the amount of unrecognized tax benefits at december 31 , 2007 , that , if recognized , would reduce tax expense is $ 35.9 million .', 'at this time there are no positions where the unrecognized tax benefit is expected to increase or decrease significantly within the next 12 months .', 'u.s .', 'federal and state income tax returns filed for the years 2000- 2006 are open for audit , with an effective settlement of the federal returns through 2004 .', 'the income tax returns filed in europe for the years 2002 through 2006 are also open for audit .', 'the company 2019s significant filings in europe are in germany , france , the netherlands , poland , serbia and the united kingdom .', 'the company recognizes the accrual of interest and penalties related to unrecognized tax benefits in income tax expense .', 'during the year ended december 31 , 2007 , ball recognized approximately $ 2.7 million of interest expense .', 'the accrual for uncertain tax positions at december 31 , 2007 , includes approximately $ 5.1 million representing potential interest expense .', 'no penalties have been accrued .', 'the 2007 provision for income taxes included an $ 11.5 million accrual under fin no .', '48 .', 'the majority of this provision was related to the effective settlement during the third quarter of 2007 with the internal revenue service for interest deductions on incurred loans from a company-owned life insurance plan .', 'the total accrual at december 31 , 2007 , for the effective settlement of the applicable prior years 2000-2004 under examination , and unaudited years 2005 through 2007 , was $ 18.4 million , including estimated interest .', 'the settlement resulted in a majority of the interest deductions being sustained with prospective application that results in no significant impact to future earnings per share or cash flows. .'] | 0.89781 | BLL/2007/page_78.pdf-2 | ['page 62 of 94 notes to consolidated financial statements ball corporation and subsidiaries 14 .', 'taxes on income ( continued ) at december 31 , 2007 , ball corporation and its domestic subsidiaries had net operating loss carryforwards , expiring between 2020 and 2026 , of $ 64.6 million with a related tax benefit of $ 25.2 million .', 'also at december 31 , 2007 , ball packaging europe and its subsidiaries had net operating loss carryforwards , with no expiration date , of $ 54.4 million with a related tax benefit of $ 14.6 million .', 'ball packaging products canada corp .', 'had a net operating loss carryforward , with no expiration date , of $ 15.8 million with a related tax benefit of $ 5.4 million .', 'due to the uncertainty of ultimate realization , these european and canadian benefits have been offset by valuation allowances of $ 8.6 million and $ 5.4 million , respectively .', 'upon realization , $ 5.3 million of the european valuation allowance will be recognized as a reduction in goodwill .', 'at december 31 , 2007 , the company has foreign tax credit carryforwards of $ 5.8 million ; however , due to the uncertainty of realization of the entire credit , a valuation allowance of $ 3.8 million has been applied to reduce the carrying value to $ 2 million .', 'effective january 1 , 2007 , ball adopted fin no .', '48 , 201caccounting for uncertainty in income taxes . 201d as of the date of adoption , the accrual for uncertain tax position was $ 45.8 million , and the cumulative effect of the adoption was an increase in the reserve for uncertain tax positions of $ 2.1 million .', 'the accrual includes an $ 11.4 million reduction in opening retained earnings and a $ 9.3 million reduction in goodwill .', 'a reconciliation of the unrecognized tax benefits follows : ( $ in millions ) as adjusted for accounting change .'] | ['the amount of unrecognized tax benefits at december 31 , 2007 , that , if recognized , would reduce tax expense is $ 35.9 million .', 'at this time there are no positions where the unrecognized tax benefit is expected to increase or decrease significantly within the next 12 months .', 'u.s .', 'federal and state income tax returns filed for the years 2000- 2006 are open for audit , with an effective settlement of the federal returns through 2004 .', 'the income tax returns filed in europe for the years 2002 through 2006 are also open for audit .', 'the company 2019s significant filings in europe are in germany , france , the netherlands , poland , serbia and the united kingdom .', 'the company recognizes the accrual of interest and penalties related to unrecognized tax benefits in income tax expense .', 'during the year ended december 31 , 2007 , ball recognized approximately $ 2.7 million of interest expense .', 'the accrual for uncertain tax positions at december 31 , 2007 , includes approximately $ 5.1 million representing potential interest expense .', 'no penalties have been accrued .', 'the 2007 provision for income taxes included an $ 11.5 million accrual under fin no .', '48 .', 'the majority of this provision was related to the effective settlement during the third quarter of 2007 with the internal revenue service for interest deductions on incurred loans from a company-owned life insurance plan .', 'the total accrual at december 31 , 2007 , for the effective settlement of the applicable prior years 2000-2004 under examination , and unaudited years 2005 through 2007 , was $ 18.4 million , including estimated interest .', 'the settlement resulted in a majority of the interest deductions being sustained with prospective application that results in no significant impact to future earnings per share or cash flows. .'] | ----------------------------------------
( $ in millions ), as adjusted for accounting change
balance at january 1 2007, $ 45.8
additions based on tax positions related to the current year, 3.9
additions for tax positions of prior years, 7.6
reductions for settlements, -18.4 ( 18.4 )
effect of foreign currency exchange rates, 2.2
balance at december 31 2007, $ 41.1
balance sheet classification:,
income taxes payable, $ 4.2
deferred taxes and other liabilities, 36.9
total, $ 41.1
---------------------------------------- | divide(36.9, 41.1) | 0.89781 |
what was the change in principal payments due in 2006 versus 2007 in thousands? | Context: ['vornado realty trust72 ( 6 ) on june 21 , 2002 , one of the lenders purchased the other participant 2019s interest in the loan .', 'at the same time , the loan was extended for one year , with certain modifications , including ( i ) making the risk of a loss due to terrorism ( as defined ) not covered by insurance recourse to the company and ( ii ) the granting of two 1-year renewal options to the company .', '( 7 ) on november 25 , 2003 , the company completed an offering of $ 200000 , aggregate principal amount of 4.75% ( 4.75 % ) senior unsecured notes due december 1 , 2010 .', 'interest on the notes is payable semi-annually on june 1st and december 1st , commencing in 2004 .', 'the notes were priced at 99.869% ( 99.869 % ) of their face amount to yield 4.772% ( 4.772 % ) .', 'the notes contain the same financial covenants that are in the company 2019s notes issued in june 2002 , except the maximum ratio of secured debt to total assets is now 50% ( 50 % ) ( previously 55% ( 55 % ) ) .', 'the net proceeds of approximately $ 198500 were used primarily to repay existing mortgage debt .', '( 8 ) on july 3 , 2003 , the company entered into a new $ 600000 unsecured revolving credit facility which has replaced its $ 1 billion unsecured revolving credit facility which was to mature in july 2003 .', 'the new facility has a three-year term , a one-year extension option and bears interest at libor plus .65% ( .65 % ) .', 'the company also has the ability under the new facility to seek up to $ 800000 of commitments during the facility 2019s term .', 'the new facility contains financial covenants similar to the prior facility .', 'the net carrying amount of properties collateralizing the notes and mortgages amounted to $ 4557065000 at december 31 , 2003 .', 'as at december 31 , 2003 , the principal repayments required for the next five years and thereafter are as follows : ( amounts in thousands ) .']
##########
Table:
****************************************
• year ending december 31,, amount
• 2004, $ 296184
• 2005, 357171
• 2006, 551539
• 2007, 807784
• 2008, 378841
• thereafter, 1672866
****************************************
##########
Follow-up: ['8 .', 'shareholders 2019 equity common shares of beneficial interest on february 25 , 2002 , the company sold 1398743 common shares based on the closing price of $ 42.96 on the nyse .', 'the net proceeds to the company were approximately $ 56453000 .', 'series a preferred shares of beneficial interest holders of series a preferred shares of beneficial interest are entitled to receive dividends in an amount equivalent to $ 3.25 per annum per share .', 'these dividends are cumulative and payable quarterly in arrears .', 'the series a preferred shares are convertible at any time at the option of their respective holders at a conversion rate of 1.38504 common shares per series a preferred share , subject to adjustment in certain circumstances .', 'in addition , upon the satisfaction of certain conditions the company , at its option , may redeem the $ 3.25 series a preferred shares at a current conversion rate of 1.38504 common shares per series a preferred share , subject to adjustment in certain circumstances .', 'at no time will the series a preferred shares be redeemable for cash .', 'series b preferred shares of beneficial interest holders of series b preferred shares of beneficial interest are entitled to receive dividends at an annual rate of 8.5% ( 8.5 % ) of the liquidation preference , or $ 2.125 per series b preferred share per annum .', 'these dividends are cumulative and payable quarterly in arrears .', 'the series b preferred shares are not convertible into or exchangeable for any other property or any other securities of the company at the election of the holders .', 'however , subject to certain limitations relating to the source of funds used in connection with any such redemption , on or after march 17 , 2004 ( or sooner under limited circumstances ) , the company , at its option , may redeem series b preferred shares at a redemption price of $ 25.00 per share , plus any accrued and unpaid dividends through the date of redemption .', 'the series b preferred shares have no maturity date and will remain outstanding indefinitely unless redeemed by the company .', 'on february 17 , 2004 , the company has called for the redemption of all of the outstanding series b preferred shares .', 'the shares will be redeemed on march 17 , 2004 at the redemption price of $ 25.00 per share , aggregating $ 85000000 plus accrued dividends .', 'the redemption amount exceeds the carrying amount by $ 2100000 , representing original issuance costs .', 'notes to consolidated financial statements sr-176_fin_l02p53_82v1.qxd 4/8/04 2:17 pm page 72 .'] | -256245.0 | VNO/2003/page_97.pdf-2 | ['vornado realty trust72 ( 6 ) on june 21 , 2002 , one of the lenders purchased the other participant 2019s interest in the loan .', 'at the same time , the loan was extended for one year , with certain modifications , including ( i ) making the risk of a loss due to terrorism ( as defined ) not covered by insurance recourse to the company and ( ii ) the granting of two 1-year renewal options to the company .', '( 7 ) on november 25 , 2003 , the company completed an offering of $ 200000 , aggregate principal amount of 4.75% ( 4.75 % ) senior unsecured notes due december 1 , 2010 .', 'interest on the notes is payable semi-annually on june 1st and december 1st , commencing in 2004 .', 'the notes were priced at 99.869% ( 99.869 % ) of their face amount to yield 4.772% ( 4.772 % ) .', 'the notes contain the same financial covenants that are in the company 2019s notes issued in june 2002 , except the maximum ratio of secured debt to total assets is now 50% ( 50 % ) ( previously 55% ( 55 % ) ) .', 'the net proceeds of approximately $ 198500 were used primarily to repay existing mortgage debt .', '( 8 ) on july 3 , 2003 , the company entered into a new $ 600000 unsecured revolving credit facility which has replaced its $ 1 billion unsecured revolving credit facility which was to mature in july 2003 .', 'the new facility has a three-year term , a one-year extension option and bears interest at libor plus .65% ( .65 % ) .', 'the company also has the ability under the new facility to seek up to $ 800000 of commitments during the facility 2019s term .', 'the new facility contains financial covenants similar to the prior facility .', 'the net carrying amount of properties collateralizing the notes and mortgages amounted to $ 4557065000 at december 31 , 2003 .', 'as at december 31 , 2003 , the principal repayments required for the next five years and thereafter are as follows : ( amounts in thousands ) .'] | ['8 .', 'shareholders 2019 equity common shares of beneficial interest on february 25 , 2002 , the company sold 1398743 common shares based on the closing price of $ 42.96 on the nyse .', 'the net proceeds to the company were approximately $ 56453000 .', 'series a preferred shares of beneficial interest holders of series a preferred shares of beneficial interest are entitled to receive dividends in an amount equivalent to $ 3.25 per annum per share .', 'these dividends are cumulative and payable quarterly in arrears .', 'the series a preferred shares are convertible at any time at the option of their respective holders at a conversion rate of 1.38504 common shares per series a preferred share , subject to adjustment in certain circumstances .', 'in addition , upon the satisfaction of certain conditions the company , at its option , may redeem the $ 3.25 series a preferred shares at a current conversion rate of 1.38504 common shares per series a preferred share , subject to adjustment in certain circumstances .', 'at no time will the series a preferred shares be redeemable for cash .', 'series b preferred shares of beneficial interest holders of series b preferred shares of beneficial interest are entitled to receive dividends at an annual rate of 8.5% ( 8.5 % ) of the liquidation preference , or $ 2.125 per series b preferred share per annum .', 'these dividends are cumulative and payable quarterly in arrears .', 'the series b preferred shares are not convertible into or exchangeable for any other property or any other securities of the company at the election of the holders .', 'however , subject to certain limitations relating to the source of funds used in connection with any such redemption , on or after march 17 , 2004 ( or sooner under limited circumstances ) , the company , at its option , may redeem series b preferred shares at a redemption price of $ 25.00 per share , plus any accrued and unpaid dividends through the date of redemption .', 'the series b preferred shares have no maturity date and will remain outstanding indefinitely unless redeemed by the company .', 'on february 17 , 2004 , the company has called for the redemption of all of the outstanding series b preferred shares .', 'the shares will be redeemed on march 17 , 2004 at the redemption price of $ 25.00 per share , aggregating $ 85000000 plus accrued dividends .', 'the redemption amount exceeds the carrying amount by $ 2100000 , representing original issuance costs .', 'notes to consolidated financial statements sr-176_fin_l02p53_82v1.qxd 4/8/04 2:17 pm page 72 .'] | ****************************************
• year ending december 31,, amount
• 2004, $ 296184
• 2005, 357171
• 2006, 551539
• 2007, 807784
• 2008, 378841
• thereafter, 1672866
**************************************** | subtract(551539, 807784) | -256245.0 |
what is the annual average of berths per ship , from 2012-2016 , that are expected to be placed in service in the north american cruise market? | Context: ['part i berths at the end of 2011 .', 'there are approximately 10 ships with an estimated 34000 berths that are expected to be placed in service in the north american cruise market between 2012 and 2016 .', 'europe in europe , cruising represents a smaller but growing sector of the vacation industry .', 'it has experienced a compound annual growth rate in cruise guests of approximately 9.6% ( 9.6 % ) from 2007 to 2011 and we believe this market has significant continued growth poten- tial .', 'we estimate that europe was served by 104 ships with approximately 100000 berths at the beginning of 2007 and by 121 ships with approximately 155000 berths at the end of 2011 .', 'there are approximately 10 ships with an estimated 28000 berths that are expected to be placed in service in the european cruise market between 2012 and 2016 .', 'the following table details the growth in the global , north american and european cruise markets in terms of cruise guests and estimated weighted-average berths over the past five years : global cruise guests ( 1 ) weighted-average supply of berths marketed globally ( 1 ) north american cruise guests ( 2 ) weighted-average supply of berths marketed in north america ( 1 ) european cruise guests ( 3 ) weighted-average supply of berths marketed in europe ( 1 ) .']
##########
Table:
****************************************
year global cruiseguests ( 1 ) weighted-averagesupplyofberthsmarketedglobally ( 1 ) northamericancruiseguests ( 2 ) weighted-average supply ofberths marketedin northamerica ( 1 ) europeancruiseguests weighted-averagesupply ofberthsmarketed ineurope ( 1 )
2007 16586000 327000 10247000 212000 4080000 105000
2008 17184000 347000 10093000 219000 4500000 120000
2009 17340000 363000 10198000 222000 5000000 131000
2010 18800000 391000 10781000 232000 5540000 143000
2011 20227000 412000 11625000 245000 5894000 149000
****************************************
##########
Additional Information: ['( 1 ) source : our estimates of the number of global cruise guests , and the weighted-average supply of berths marketed globally , in north america and europe are based on a combination of data that we obtain from various publicly available cruise industry trade information sources including seatrade insider and cruise line international association .', 'in addition , our estimates incorporate our own statistical analysis utilizing the same publicly available cruise industry data as a base .', '( 2 ) source : cruise line international association based on cruise guests carried for at least two consecutive nights for years 2007 through 2010 .', 'year 2011 amounts represent our estimates ( see number 1 above ) .', '( 3 ) source : european cruise council for years 2007 through 2010 .', 'year 2011 amounts represent our estimates ( see number 1 above ) .', 'other markets in addition to expected industry growth in north america and europe as discussed above , we expect the asia/pacific region to demonstrate an even higher growth rate in the near term , although it will continue to represent a relatively small sector compared to north america and europe .', 'we compete with a number of cruise lines ; however , our principal competitors are carnival corporation & plc , which owns , among others , aida cruises , carnival cruise lines , costa cruises , cunard line , holland america line , iberocruceros , p&o cruises and princess cruises ; disney cruise line ; msc cruises ; norwegian cruise line and oceania cruises .', 'cruise lines compete with other vacation alternatives such as land-based resort hotels and sightseeing destinations for consum- ers 2019 leisure time .', 'demand for such activities is influ- enced by political and general economic conditions .', 'companies within the vacation market are dependent on consumer discretionary spending .', 'operating strategies our principal operating strategies are to : and employees and protect the environment in which our vessels and organization operate , to better serve our global guest base and grow our business , order to enhance our revenues while continuing to expand and diversify our guest mix through interna- tional guest sourcing , and ensure adequate cash and liquidity , with the overall goal of maximizing our return on invested capital and long-term shareholder value , our brands throughout the world , revitalization of existing ships and the transfer of key innovations across each brand , while expanding our fleet with the new state-of-the-art cruise ships recently delivered and on order , by deploying them into those markets and itineraries that provide opportunities to optimize returns , while continuing our focus on existing key markets , support ongoing operations and initiatives , and the principal industry distribution channel , while enhancing our consumer outreach programs. .'] | 850.0 | RCL/2011/page_16.pdf-3 | ['part i berths at the end of 2011 .', 'there are approximately 10 ships with an estimated 34000 berths that are expected to be placed in service in the north american cruise market between 2012 and 2016 .', 'europe in europe , cruising represents a smaller but growing sector of the vacation industry .', 'it has experienced a compound annual growth rate in cruise guests of approximately 9.6% ( 9.6 % ) from 2007 to 2011 and we believe this market has significant continued growth poten- tial .', 'we estimate that europe was served by 104 ships with approximately 100000 berths at the beginning of 2007 and by 121 ships with approximately 155000 berths at the end of 2011 .', 'there are approximately 10 ships with an estimated 28000 berths that are expected to be placed in service in the european cruise market between 2012 and 2016 .', 'the following table details the growth in the global , north american and european cruise markets in terms of cruise guests and estimated weighted-average berths over the past five years : global cruise guests ( 1 ) weighted-average supply of berths marketed globally ( 1 ) north american cruise guests ( 2 ) weighted-average supply of berths marketed in north america ( 1 ) european cruise guests ( 3 ) weighted-average supply of berths marketed in europe ( 1 ) .'] | ['( 1 ) source : our estimates of the number of global cruise guests , and the weighted-average supply of berths marketed globally , in north america and europe are based on a combination of data that we obtain from various publicly available cruise industry trade information sources including seatrade insider and cruise line international association .', 'in addition , our estimates incorporate our own statistical analysis utilizing the same publicly available cruise industry data as a base .', '( 2 ) source : cruise line international association based on cruise guests carried for at least two consecutive nights for years 2007 through 2010 .', 'year 2011 amounts represent our estimates ( see number 1 above ) .', '( 3 ) source : european cruise council for years 2007 through 2010 .', 'year 2011 amounts represent our estimates ( see number 1 above ) .', 'other markets in addition to expected industry growth in north america and europe as discussed above , we expect the asia/pacific region to demonstrate an even higher growth rate in the near term , although it will continue to represent a relatively small sector compared to north america and europe .', 'we compete with a number of cruise lines ; however , our principal competitors are carnival corporation & plc , which owns , among others , aida cruises , carnival cruise lines , costa cruises , cunard line , holland america line , iberocruceros , p&o cruises and princess cruises ; disney cruise line ; msc cruises ; norwegian cruise line and oceania cruises .', 'cruise lines compete with other vacation alternatives such as land-based resort hotels and sightseeing destinations for consum- ers 2019 leisure time .', 'demand for such activities is influ- enced by political and general economic conditions .', 'companies within the vacation market are dependent on consumer discretionary spending .', 'operating strategies our principal operating strategies are to : and employees and protect the environment in which our vessels and organization operate , to better serve our global guest base and grow our business , order to enhance our revenues while continuing to expand and diversify our guest mix through interna- tional guest sourcing , and ensure adequate cash and liquidity , with the overall goal of maximizing our return on invested capital and long-term shareholder value , our brands throughout the world , revitalization of existing ships and the transfer of key innovations across each brand , while expanding our fleet with the new state-of-the-art cruise ships recently delivered and on order , by deploying them into those markets and itineraries that provide opportunities to optimize returns , while continuing our focus on existing key markets , support ongoing operations and initiatives , and the principal industry distribution channel , while enhancing our consumer outreach programs. .'] | ****************************************
year global cruiseguests ( 1 ) weighted-averagesupplyofberthsmarketedglobally ( 1 ) northamericancruiseguests ( 2 ) weighted-average supply ofberths marketedin northamerica ( 1 ) europeancruiseguests weighted-averagesupply ofberthsmarketed ineurope ( 1 )
2007 16586000 327000 10247000 212000 4080000 105000
2008 17184000 347000 10093000 219000 4500000 120000
2009 17340000 363000 10198000 222000 5000000 131000
2010 18800000 391000 10781000 232000 5540000 143000
2011 20227000 412000 11625000 245000 5894000 149000
**************************************** | divide(34000, const_10), divide(#0, const_4) | 850.0 |
what is the percentage change in nonrecurring losses from 2012 to 2013? | Pre-text: ['notes to consolidated financial statements 161 fifth third bancorp as of december 31 , 2012 ( $ in millions ) significant unobservable ranges of financial instrument fair value valuation technique inputs inputs weighted-average commercial loans held for sale $ 9 appraised value appraised value nm nm cost to sell nm 10.0% ( 10.0 % ) commercial and industrial loans 83 appraised value default rates 100% ( 100 % ) nm collateral value nm nm commercial mortgage loans 46 appraised value default rates 100% ( 100 % ) nm collateral value nm nm commercial construction loans 4 appraised value default rates 100% ( 100 % ) nm collateral value nm nm msrs 697 discounted cash flow prepayment speed 0 - 100% ( 100 % ) ( fixed ) 16.1% ( 16.1 % ) ( adjustable ) 26.9% ( 26.9 % ) discount rates 9.4 - 18.0% ( 18.0 % ) ( fixed ) 10.5% ( 10.5 % ) ( adjustable ) 11.7% ( 11.7 % ) .']
Data Table:
========================================
Row 1: financial instrument, fair value, valuation technique, significant unobservableinputs, ranges ofinputs, weighted-average
Row 2: commercial loans held for sale, $ 9, appraised value, appraised valuecost to sell, nmnm, nm10.0% ( nm10.0 % )
Row 3: commercial and industrial loans, 83, appraised value, default ratescollateral value, 100%nm, nmnm
Row 4: commercial mortgage loans, 46, appraised value, default ratescollateral value, 100%nm, nmnm
Row 5: commercial construction loans, 4, appraised value, default ratescollateral value, 100%nm, nmnm
Row 6: msrs, 697, discounted cash flow, prepayment speeddiscount rates, 0 - 100%9.4 - 18.0% ( 18.0 % ), ( fixed ) 16.1% ( 16.1 % ) ( adjustable ) 26.9% ( 26.9 % ) ( fixed ) 10.5% ( 10.5 % ) ( adjustable ) 11.7% ( 11.7 % )
Row 7: oreo, 165, appraised value, appraised value, nm, nm
========================================
Additional Information: ['commercial loans held for sale during 2013 and 2012 , the bancorp transferred $ 5 million and $ 16 million , respectively , of commercial loans from the portfolio to loans held for sale that upon transfer were measured at fair value using significant unobservable inputs .', 'these loans had fair value adjustments in 2013 and 2012 totaling $ 4 million and $ 1 million , respectively , and were generally based on appraisals of the underlying collateral and were therefore , classified within level 3 of the valuation hierarchy .', 'additionally , during 2013 and 2012 there were fair value adjustments on existing commercial loans held for sale of $ 3 million and $ 12 million , respectively .', 'the fair value adjustments were also based on appraisals of the underlying collateral and were therefore classified within level 3 of the valuation hierarchy .', 'an adverse change in the fair value of the underlying collateral would result in a decrease in the fair value measurement .', 'the accounting department determines the procedures for valuation of commercial hfs loans which may include a comparison to recently executed transactions of similar type loans .', 'a monthly review of the portfolio is performed for reasonableness .', 'quarterly , appraisals approaching a year old are updated and the real estate valuation group , which reports to the chief risk and credit officer , in conjunction with the commercial line of business review the third party appraisals for reasonableness .', 'additionally , the commercial line of business finance department , which reports to the bancorp chief financial officer , in conjunction with accounting review all loan appraisal values , carrying values and vintages .', 'commercial loans held for investment during 2013 and 2012 , the bancorp recorded nonrecurring impairment adjustments to certain commercial and industrial , commercial mortgage and commercial construction loans held for investment .', 'larger commercial loans included within aggregate borrower relationship balances exceeding $ 1 million that exhibit probable or observed credit weaknesses are subject to individual review for impairment .', 'the bancorp considers the current value of collateral , credit quality of any guarantees , the guarantor 2019s liquidity and willingness to cooperate , the loan structure and other factors when evaluating whether an individual loan is impaired .', 'when the loan is collateral dependent , the fair value of the loan is generally based on the fair value of the underlying collateral supporting the loan and therefore these loans were classified within level 3 of the valuation hierarchy .', 'in cases where the carrying value exceeds the fair value , an impairment loss is recognized .', 'an adverse change in the fair value of the underlying collateral would result in a decrease in the fair value measurement .', 'the fair values and recognized impairment losses are reflected in the previous table .', 'commercial credit risk , which reports to the chief risk and credit officer , is responsible for preparing and reviewing the fair value estimates for commercial loans held for investment .', 'mortgage interest rates increased during the year ended december 31 , 2013 and the bancorp recognized a recovery of temporary impairment on servicing rights .', 'the bancorp recognized temporary impairments in certain classes of the msr portfolio during the year ended december 31 , 2012 and the carrying value was adjusted to the fair value .', 'msrs do not trade in an active , open market with readily observable prices .', 'while sales of msrs do occur , the precise terms and conditions typically are not readily available .', 'accordingly , the bancorp estimates the fair value of msrs using internal discounted cash flow models with certain unobservable inputs , primarily prepayment speed assumptions , discount rates and weighted average lives , resulting in a classification within level 3 of the valuation hierarchy .', 'refer to note 11 for further information on the assumptions used in the valuation of the bancorp 2019s msrs .', 'the secondary marketing department and treasury department are responsible for determining the valuation methodology for msrs .', 'representatives from secondary marketing , treasury , accounting and risk management are responsible for reviewing key assumptions used in the internal discounted cash flow model .', 'two external valuations of the msr portfolio are obtained from third parties that use valuation models in order to assess the reasonableness of the internal discounted cash flow model .', 'additionally , the bancorp participates in peer surveys that provide additional confirmation of the reasonableness of key assumptions utilized in the msr valuation process and the resulting msr prices .', 'during 2013 and 2012 , the bancorp recorded nonrecurring adjustments to certain commercial and residential real estate properties classified as oreo and measured at the lower of carrying amount or fair value .', 'these nonrecurring losses are primarily due to declines in real estate values of the properties recorded in oreo .', 'for the years ended december 31 , 2013 and 2012 , these losses include $ 19 million and $ 17 million , respectively , recorded as charge-offs , on new oreo properties transferred from loans during the respective periods and $ 26 million and $ 57 million , respectively , recorded as negative fair value adjustments on oreo in other noninterest income subsequent to their transfer from loans .', 'as discussed in the following paragraphs , the fair value amounts are generally based on appraisals of the property values , resulting in a .'] | 0.11765 | FITB/2013/page_163.pdf-3 | ['notes to consolidated financial statements 161 fifth third bancorp as of december 31 , 2012 ( $ in millions ) significant unobservable ranges of financial instrument fair value valuation technique inputs inputs weighted-average commercial loans held for sale $ 9 appraised value appraised value nm nm cost to sell nm 10.0% ( 10.0 % ) commercial and industrial loans 83 appraised value default rates 100% ( 100 % ) nm collateral value nm nm commercial mortgage loans 46 appraised value default rates 100% ( 100 % ) nm collateral value nm nm commercial construction loans 4 appraised value default rates 100% ( 100 % ) nm collateral value nm nm msrs 697 discounted cash flow prepayment speed 0 - 100% ( 100 % ) ( fixed ) 16.1% ( 16.1 % ) ( adjustable ) 26.9% ( 26.9 % ) discount rates 9.4 - 18.0% ( 18.0 % ) ( fixed ) 10.5% ( 10.5 % ) ( adjustable ) 11.7% ( 11.7 % ) .'] | ['commercial loans held for sale during 2013 and 2012 , the bancorp transferred $ 5 million and $ 16 million , respectively , of commercial loans from the portfolio to loans held for sale that upon transfer were measured at fair value using significant unobservable inputs .', 'these loans had fair value adjustments in 2013 and 2012 totaling $ 4 million and $ 1 million , respectively , and were generally based on appraisals of the underlying collateral and were therefore , classified within level 3 of the valuation hierarchy .', 'additionally , during 2013 and 2012 there were fair value adjustments on existing commercial loans held for sale of $ 3 million and $ 12 million , respectively .', 'the fair value adjustments were also based on appraisals of the underlying collateral and were therefore classified within level 3 of the valuation hierarchy .', 'an adverse change in the fair value of the underlying collateral would result in a decrease in the fair value measurement .', 'the accounting department determines the procedures for valuation of commercial hfs loans which may include a comparison to recently executed transactions of similar type loans .', 'a monthly review of the portfolio is performed for reasonableness .', 'quarterly , appraisals approaching a year old are updated and the real estate valuation group , which reports to the chief risk and credit officer , in conjunction with the commercial line of business review the third party appraisals for reasonableness .', 'additionally , the commercial line of business finance department , which reports to the bancorp chief financial officer , in conjunction with accounting review all loan appraisal values , carrying values and vintages .', 'commercial loans held for investment during 2013 and 2012 , the bancorp recorded nonrecurring impairment adjustments to certain commercial and industrial , commercial mortgage and commercial construction loans held for investment .', 'larger commercial loans included within aggregate borrower relationship balances exceeding $ 1 million that exhibit probable or observed credit weaknesses are subject to individual review for impairment .', 'the bancorp considers the current value of collateral , credit quality of any guarantees , the guarantor 2019s liquidity and willingness to cooperate , the loan structure and other factors when evaluating whether an individual loan is impaired .', 'when the loan is collateral dependent , the fair value of the loan is generally based on the fair value of the underlying collateral supporting the loan and therefore these loans were classified within level 3 of the valuation hierarchy .', 'in cases where the carrying value exceeds the fair value , an impairment loss is recognized .', 'an adverse change in the fair value of the underlying collateral would result in a decrease in the fair value measurement .', 'the fair values and recognized impairment losses are reflected in the previous table .', 'commercial credit risk , which reports to the chief risk and credit officer , is responsible for preparing and reviewing the fair value estimates for commercial loans held for investment .', 'mortgage interest rates increased during the year ended december 31 , 2013 and the bancorp recognized a recovery of temporary impairment on servicing rights .', 'the bancorp recognized temporary impairments in certain classes of the msr portfolio during the year ended december 31 , 2012 and the carrying value was adjusted to the fair value .', 'msrs do not trade in an active , open market with readily observable prices .', 'while sales of msrs do occur , the precise terms and conditions typically are not readily available .', 'accordingly , the bancorp estimates the fair value of msrs using internal discounted cash flow models with certain unobservable inputs , primarily prepayment speed assumptions , discount rates and weighted average lives , resulting in a classification within level 3 of the valuation hierarchy .', 'refer to note 11 for further information on the assumptions used in the valuation of the bancorp 2019s msrs .', 'the secondary marketing department and treasury department are responsible for determining the valuation methodology for msrs .', 'representatives from secondary marketing , treasury , accounting and risk management are responsible for reviewing key assumptions used in the internal discounted cash flow model .', 'two external valuations of the msr portfolio are obtained from third parties that use valuation models in order to assess the reasonableness of the internal discounted cash flow model .', 'additionally , the bancorp participates in peer surveys that provide additional confirmation of the reasonableness of key assumptions utilized in the msr valuation process and the resulting msr prices .', 'during 2013 and 2012 , the bancorp recorded nonrecurring adjustments to certain commercial and residential real estate properties classified as oreo and measured at the lower of carrying amount or fair value .', 'these nonrecurring losses are primarily due to declines in real estate values of the properties recorded in oreo .', 'for the years ended december 31 , 2013 and 2012 , these losses include $ 19 million and $ 17 million , respectively , recorded as charge-offs , on new oreo properties transferred from loans during the respective periods and $ 26 million and $ 57 million , respectively , recorded as negative fair value adjustments on oreo in other noninterest income subsequent to their transfer from loans .', 'as discussed in the following paragraphs , the fair value amounts are generally based on appraisals of the property values , resulting in a .'] | ========================================
Row 1: financial instrument, fair value, valuation technique, significant unobservableinputs, ranges ofinputs, weighted-average
Row 2: commercial loans held for sale, $ 9, appraised value, appraised valuecost to sell, nmnm, nm10.0% ( nm10.0 % )
Row 3: commercial and industrial loans, 83, appraised value, default ratescollateral value, 100%nm, nmnm
Row 4: commercial mortgage loans, 46, appraised value, default ratescollateral value, 100%nm, nmnm
Row 5: commercial construction loans, 4, appraised value, default ratescollateral value, 100%nm, nmnm
Row 6: msrs, 697, discounted cash flow, prepayment speeddiscount rates, 0 - 100%9.4 - 18.0% ( 18.0 % ), ( fixed ) 16.1% ( 16.1 % ) ( adjustable ) 26.9% ( 26.9 % ) ( fixed ) 10.5% ( 10.5 % ) ( adjustable ) 11.7% ( 11.7 % )
Row 7: oreo, 165, appraised value, appraised value, nm, nm
======================================== | subtract(19, 17), divide(#0, 17) | 0.11765 |
what percentage of total shares were purchased in october? | Pre-text: ['repurchase of equity securities the following table provides information regarding our purchases of our equity securities during the period from october 1 , 2012 to december 31 , 2012 .', '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 .']
Data Table:
----------------------------------------
| total number ofshares ( or units ) purchased1 | average price paidper share ( or unit ) 2 | total number ofshares ( or units ) purchased as part ofpublicly announcedplans or programs3 | maximum number ( or approximate dollar value ) of shares ( or units ) that mayyet be purchased under theplans or programs3
----------|----------|----------|----------|----------
october 1 - 31 | 13566 | $ 10.26 | 0 | $ 148858924
november 1 - 30 | 5345171 | $ 9.98 | 5343752 | $ 195551133
december 1 - 31 | 8797959 | $ 10.87 | 8790000 | $ 99989339
total | 14156696 | $ 10.53 | 14133752 |
----------------------------------------
Additional Information: ['1 includes shares of our common stock , par value $ 0.10 per share , withheld under the terms of grants under employee stock-based compensation plans to offset tax withholding obligations that occurred upon vesting and release of restricted shares ( the 201cwithheld shares 201d ) .', 'we repurchased 13566 withheld shares in october 2012 , 1419 withheld shares in november 2012 and 7959 withheld shares in december 2012 , for a total of 22944 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 stock repurchase program , described in note 5 to the consolidated financial statements , by the sum of the number of withheld shares and the number of shares acquired in our stock repurchase program .', '3 on february 24 , 2012 , we announced in a press release that our board had approved a share repurchase program to repurchase from time to time up to $ 300.0 million of our common stock ( the 201c2012 share repurchase program 201d ) , in addition to amounts available on existing authorizations .', 'on november 20 , 2012 , we announced in a press release that our board had authorized an increase in our 2012 share repurchase program to $ 400.0 million of our common stock .', 'on february 22 , 2013 , we announced that our board had approved a new share repurchase program to repurchase from time to time up to $ 300.0 million of our common stock .', 'the new authorization is in addition to any amounts remaining available for repurchase under the 2012 share repurchase program .', 'there is no expiration date associated with the share repurchase programs. .'] | 0.09583 | IPG/2012/page_21.pdf-1 | ['repurchase of equity securities the following table provides information regarding our purchases of our equity securities during the period from october 1 , 2012 to december 31 , 2012 .', '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 includes shares of our common stock , par value $ 0.10 per share , withheld under the terms of grants under employee stock-based compensation plans to offset tax withholding obligations that occurred upon vesting and release of restricted shares ( the 201cwithheld shares 201d ) .', 'we repurchased 13566 withheld shares in october 2012 , 1419 withheld shares in november 2012 and 7959 withheld shares in december 2012 , for a total of 22944 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 stock repurchase program , described in note 5 to the consolidated financial statements , by the sum of the number of withheld shares and the number of shares acquired in our stock repurchase program .', '3 on february 24 , 2012 , we announced in a press release that our board had approved a share repurchase program to repurchase from time to time up to $ 300.0 million of our common stock ( the 201c2012 share repurchase program 201d ) , in addition to amounts available on existing authorizations .', 'on november 20 , 2012 , we announced in a press release that our board had authorized an increase in our 2012 share repurchase program to $ 400.0 million of our common stock .', 'on february 22 , 2013 , we announced that our board had approved a new share repurchase program to repurchase from time to time up to $ 300.0 million of our common stock .', 'the new authorization is in addition to any amounts remaining available for repurchase under the 2012 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 ( or approximate dollar value ) of shares ( or units ) that mayyet be purchased under theplans or programs3
----------|----------|----------|----------|----------
october 1 - 31 | 13566 | $ 10.26 | 0 | $ 148858924
november 1 - 30 | 5345171 | $ 9.98 | 5343752 | $ 195551133
december 1 - 31 | 8797959 | $ 10.87 | 8790000 | $ 99989339
total | 14156696 | $ 10.53 | 14133752 |
---------------------------------------- | divide(13566, 14156696), multiply(#0, const_100) | 0.09583 |
what percentage of total freight revenues was the coal commodity group in 2013? | Pre-text: ['notes to the consolidated financial statements union pacific corporation and subsidiary companies for purposes of this report , unless the context otherwise requires , all references herein to the 201ccorporation 201d , 201ccompany 201d , 201cupc 201d , 201cwe 201d , 201cus 201d , and 201cour 201d mean union pacific corporation and its subsidiaries , including union pacific railroad company , which will be separately referred to herein as 201cuprr 201d or the 201crailroad 201d .', '1 .', 'nature of operations operations and segmentation 2013 we are a class i railroad operating in the u.s .', 'our network includes 31974 route miles , linking pacific coast and gulf coast ports with the midwest and eastern u.s .', 'gateways and providing several corridors to key mexican gateways .', 'we own 26012 miles and operate on the remainder pursuant to trackage rights or leases .', 'we serve the western two-thirds of the country and maintain coordinated schedules with other rail carriers for the handling of freight to and from the atlantic coast , the pacific coast , the southeast , the southwest , canada , and mexico .', 'export and import traffic is moved through gulf coast and pacific coast ports and across the mexican and canadian borders .', 'the railroad , along with its subsidiaries and rail affiliates , is our one reportable operating segment .', 'although we provide and review revenue by commodity group , we analyze the net financial results of the railroad as one segment due to the integrated nature of our rail network .', 'the following table provides freight revenue by commodity group : millions 2014 2013 2012 .']
--
Tabular Data:
millions | 2014 | 2013 | 2012
agricultural products | $ 3777 | $ 3276 | $ 3280
automotive | 2103 | 2077 | 1807
chemicals | 3664 | 3501 | 3238
coal | 4127 | 3978 | 3912
industrial products | 4400 | 3822 | 3494
intermodal | 4489 | 4030 | 3955
total freight revenues | $ 22560 | $ 20684 | $ 19686
other revenues | 1428 | 1279 | 1240
total operatingrevenues | $ 23988 | $ 21963 | $ 20926
--
Post-table: ['although our revenues are principally derived from customers domiciled in the u.s. , the ultimate points of origination or destination for some products transported by us are outside the u.s .', 'each of our commodity groups includes revenue from shipments to and from mexico .', 'included in the above table are revenues from our mexico business which amounted to $ 2.3 billion in 2014 , $ 2.1 billion in 2013 , and $ 1.9 billion in 2012 .', 'basis of presentation 2013 the consolidated financial statements are presented in accordance with accounting principles generally accepted in the u.s .', '( gaap ) as codified in the financial accounting standards board ( fasb ) accounting standards codification ( asc ) .', '2 .', 'significant accounting policies principles of consolidation 2013 the consolidated financial statements include the accounts of union pacific corporation and all of its subsidiaries .', 'investments in affiliated companies ( 20% ( 20 % ) to 50% ( 50 % ) owned ) are accounted for using the equity method of accounting .', 'all intercompany transactions are eliminated .', 'we currently have no less than majority-owned investments that require consolidation under variable interest entity requirements .', 'cash and cash equivalents 2013 cash equivalents consist of investments with original maturities of three months or less .', 'accounts receivable 2013 accounts receivable includes receivables reduced by an allowance for doubtful accounts .', 'the allowance is based upon historical losses , credit worthiness of customers , and current economic conditions .', 'receivables not expected to be collected in one year and the associated allowances are classified as other assets in our consolidated statements of financial position. .'] | 0.18112 | UNP/2014/page_56.pdf-4 | ['notes to the consolidated financial statements union pacific corporation and subsidiary companies for purposes of this report , unless the context otherwise requires , all references herein to the 201ccorporation 201d , 201ccompany 201d , 201cupc 201d , 201cwe 201d , 201cus 201d , and 201cour 201d mean union pacific corporation and its subsidiaries , including union pacific railroad company , which will be separately referred to herein as 201cuprr 201d or the 201crailroad 201d .', '1 .', 'nature of operations operations and segmentation 2013 we are a class i railroad operating in the u.s .', 'our network includes 31974 route miles , linking pacific coast and gulf coast ports with the midwest and eastern u.s .', 'gateways and providing several corridors to key mexican gateways .', 'we own 26012 miles and operate on the remainder pursuant to trackage rights or leases .', 'we serve the western two-thirds of the country and maintain coordinated schedules with other rail carriers for the handling of freight to and from the atlantic coast , the pacific coast , the southeast , the southwest , canada , and mexico .', 'export and import traffic is moved through gulf coast and pacific coast ports and across the mexican and canadian borders .', 'the railroad , along with its subsidiaries and rail affiliates , is our one reportable operating segment .', 'although we provide and review revenue by commodity group , we analyze the net financial results of the railroad as one segment due to the integrated nature of our rail network .', 'the following table provides freight revenue by commodity group : millions 2014 2013 2012 .'] | ['although our revenues are principally derived from customers domiciled in the u.s. , the ultimate points of origination or destination for some products transported by us are outside the u.s .', 'each of our commodity groups includes revenue from shipments to and from mexico .', 'included in the above table are revenues from our mexico business which amounted to $ 2.3 billion in 2014 , $ 2.1 billion in 2013 , and $ 1.9 billion in 2012 .', 'basis of presentation 2013 the consolidated financial statements are presented in accordance with accounting principles generally accepted in the u.s .', '( gaap ) as codified in the financial accounting standards board ( fasb ) accounting standards codification ( asc ) .', '2 .', 'significant accounting policies principles of consolidation 2013 the consolidated financial statements include the accounts of union pacific corporation and all of its subsidiaries .', 'investments in affiliated companies ( 20% ( 20 % ) to 50% ( 50 % ) owned ) are accounted for using the equity method of accounting .', 'all intercompany transactions are eliminated .', 'we currently have no less than majority-owned investments that require consolidation under variable interest entity requirements .', 'cash and cash equivalents 2013 cash equivalents consist of investments with original maturities of three months or less .', 'accounts receivable 2013 accounts receivable includes receivables reduced by an allowance for doubtful accounts .', 'the allowance is based upon historical losses , credit worthiness of customers , and current economic conditions .', 'receivables not expected to be collected in one year and the associated allowances are classified as other assets in our consolidated statements of financial position. .'] | millions | 2014 | 2013 | 2012
agricultural products | $ 3777 | $ 3276 | $ 3280
automotive | 2103 | 2077 | 1807
chemicals | 3664 | 3501 | 3238
coal | 4127 | 3978 | 3912
industrial products | 4400 | 3822 | 3494
intermodal | 4489 | 4030 | 3955
total freight revenues | $ 22560 | $ 20684 | $ 19686
other revenues | 1428 | 1279 | 1240
total operatingrevenues | $ 23988 | $ 21963 | $ 20926 | divide(3978, 21963) | 0.18112 |
was was the total amount spent on stock repurchases in the fourth quarter? | Background: ['issuer purchases of equity securities during the three months ended december 31 , 2012 , we repurchased 619314 shares of our common stock for an aggregate of approximately $ 46.0 million , including commissions and fees , pursuant to our publicly announced stock repurchase program , as follows : period total number of shares purchased ( 1 ) average price paid per share ( 2 ) total number of shares purchased as part of publicly announced plans or programs approximate dollar value of shares that may yet be purchased under the plans or programs ( in millions ) .']
--------
Table:
========================================
period | total number of shares purchased ( 1 ) | average price paid per share ( 2 ) | total number of shares purchased as part of publicly announced plans orprograms | approximate dollar value of shares that may yet be purchased under the plans orprograms ( in millions )
----------|----------|----------|----------|----------
october 2012 | 27524 | $ 72.62 | 27524 | $ 1300.1
november 2012 | 489390 | $ 74.22 | 489390 | $ 1263.7
december 2012 | 102400 | $ 74.83 | 102400 | $ 1256.1
total fourth quarter | 619314 | $ 74.25 | 619314 | $ 1256.1
========================================
--------
Post-table: ['( 1 ) repurchases made pursuant to the $ 1.5 billion stock repurchase program approved by our board of directors in march 2011 ( the 201c2011 buyback 201d ) .', 'under this program , our management is authorized to purchase shares from time to time through open market purchases or privately negotiated transactions at prevailing prices as permitted by securities laws and other legal requirements , and subject to market conditions and other factors .', 'to facilitate repurchases , we make purchases pursuant to trading plans under rule 10b5-1 of the exchange act , which allows us to repurchase shares during periods when we otherwise might be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods .', 'this program may be discontinued at any time .', '( 2 ) average price per share is calculated using the aggregate price , excluding commissions and fees .', 'we continued to repurchase shares of our common stock pursuant to our 2011 buyback subsequent to december 31 , 2012 .', 'between january 1 , 2013 and january 21 , 2013 , we repurchased an additional 15790 shares of our common stock for an aggregate of $ 1.2 million , including commissions and fees , pursuant to the 2011 buyback .', 'as a result , as of january 21 , 2013 , we had repurchased a total of approximately 4.3 million shares of our common stock under the 2011 buyback for an aggregate of $ 245.2 million , including commissions and fees .', 'we expect to continue to manage the pacing of the remaining $ 1.3 billion under the 2011 buyback in response to general market conditions and other relevant factors. .'] | 45984064.5 | AMT/2012/page_50.pdf-4 | ['issuer purchases of equity securities during the three months ended december 31 , 2012 , we repurchased 619314 shares of our common stock for an aggregate of approximately $ 46.0 million , including commissions and fees , pursuant to our publicly announced stock repurchase program , as follows : period total number of shares purchased ( 1 ) average price paid per share ( 2 ) total number of shares purchased as part of publicly announced plans or programs approximate dollar value of shares that may yet be purchased under the plans or programs ( in millions ) .'] | ['( 1 ) repurchases made pursuant to the $ 1.5 billion stock repurchase program approved by our board of directors in march 2011 ( the 201c2011 buyback 201d ) .', 'under this program , our management is authorized to purchase shares from time to time through open market purchases or privately negotiated transactions at prevailing prices as permitted by securities laws and other legal requirements , and subject to market conditions and other factors .', 'to facilitate repurchases , we make purchases pursuant to trading plans under rule 10b5-1 of the exchange act , which allows us to repurchase shares during periods when we otherwise might be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods .', 'this program may be discontinued at any time .', '( 2 ) average price per share is calculated using the aggregate price , excluding commissions and fees .', 'we continued to repurchase shares of our common stock pursuant to our 2011 buyback subsequent to december 31 , 2012 .', 'between january 1 , 2013 and january 21 , 2013 , we repurchased an additional 15790 shares of our common stock for an aggregate of $ 1.2 million , including commissions and fees , pursuant to the 2011 buyback .', 'as a result , as of january 21 , 2013 , we had repurchased a total of approximately 4.3 million shares of our common stock under the 2011 buyback for an aggregate of $ 245.2 million , including commissions and fees .', 'we expect to continue to manage the pacing of the remaining $ 1.3 billion under the 2011 buyback in response to general market conditions and other relevant factors. .'] | ========================================
period | total number of shares purchased ( 1 ) | average price paid per share ( 2 ) | total number of shares purchased as part of publicly announced plans orprograms | approximate dollar value of shares that may yet be purchased under the plans orprograms ( in millions )
----------|----------|----------|----------|----------
october 2012 | 27524 | $ 72.62 | 27524 | $ 1300.1
november 2012 | 489390 | $ 74.22 | 489390 | $ 1263.7
december 2012 | 102400 | $ 74.83 | 102400 | $ 1256.1
total fourth quarter | 619314 | $ 74.25 | 619314 | $ 1256.1
======================================== | multiply(619314, 74.25) | 45984064.5 |
what percentage of printing paper sales where north american printing papers sales in 2012? | Context: ['printing papers demand for printing papers products is closely corre- lated with changes in commercial printing and advertising activity , direct mail volumes and , for uncoated cut-size products , with changes in white- collar employment levels that affect the usage of copy and laser printer paper .', 'pulp is further affected by changes in currency rates that can enhance or disadvantage producers in different geographic regions .', 'principal cost drivers include manufacturing efficiency , raw material and energy costs and freight costs .', 'pr int ing papers net sales for 2012 were about flat with 2011 and increased 5% ( 5 % ) from 2010 .', 'operat- ing profits in 2012 were 31% ( 31 % ) lower than in 2011 , but 25% ( 25 % ) higher than in 2010 .', 'excluding facility closure costs and impairment costs , operating profits in 2012 were 30% ( 30 % ) lower than in 2011 and 25% ( 25 % ) lower than in 2010 .', 'benefits from higher sales volumes ( $ 58 mil- lion ) were more than offset by lower sales price real- izations and an unfavorable product mix ( $ 233 million ) , higher operating costs ( $ 30 million ) , higher maintenance outage costs ( $ 17 million ) , higher input costs ( $ 32 million ) and other items ( $ 6 million ) .', 'in addition , operating profits in 2011 included a $ 24 million gain related to the announced repurposing of our franklin , virginia mill to produce fluff pulp and an $ 11 million impairment charge related to our inverurie , scotland mill that was closed in 2009 .', 'printing papers .']
------
Table:
****************************************
Row 1: in millions, 2012, 2011, 2010
Row 2: sales, $ 6230, $ 6215, $ 5940
Row 3: operating profit, 599, 872, 481
****************************************
------
Additional Information: ['north american pr int ing papers net sales were $ 2.7 billion in 2012 , $ 2.8 billion in 2011 and $ 2.8 billion in 2010 .', 'operating profits in 2012 were $ 331 million compared with $ 423 million ( $ 399 million excluding a $ 24 million gain associated with the repurposing of our franklin , virginia mill ) in 2011 and $ 18 million ( $ 333 million excluding facility clo- sure costs ) in 2010 .', 'sales volumes in 2012 were flat with 2011 .', 'average sales margins were lower primarily due to lower export sales prices and higher export sales volume .', 'input costs were higher for wood and chemicals , but were partially offset by lower purchased pulp costs .', 'freight costs increased due to higher oil prices .', 'manufacturing operating costs were favorable reflecting strong mill performance .', 'planned main- tenance downtime costs were slightly higher in 2012 .', 'no market-related downtime was taken in either 2012 or 2011 .', 'entering the first quarter of 2013 , sales volumes are expected to increase compared with the fourth quar- ter of 2012 reflecting seasonally stronger demand .', 'average sales price realizations are expected to be relatively flat as sales price realizations for domestic and export uncoated freesheet roll and cutsize paper should be stable .', 'input costs should increase for energy , chemicals and wood .', 'planned maintenance downtime costs are expected to be about $ 19 million lower with an outage scheduled at our georgetown mill versus outages at our courtland and eastover mills in the fourth quarter of 2012 .', 'braz i l ian papers net sales for 2012 were $ 1.1 bil- lion compared with $ 1.2 billion in 2011 and $ 1.1 bil- lion in 2010 .', 'operating profits for 2012 were $ 163 million compared with $ 169 million in 2011 and $ 159 million in 2010 .', 'sales volumes in 2012 were higher than in 2011 as international paper improved its segment position in the brazilian market despite weaker year-over-year conditions in most markets .', 'average sales price realizations improved for domestic uncoated freesheet paper , but the benefit was more than offset by declining prices for exported paper .', 'margins were favorably affected by an increased proportion of sales to the higher- margin domestic market .', 'raw material costs increased for wood and chemicals , but costs for purchased pulp decreased .', 'operating costs and planned maintenance downtime costs were lower than in 2011 .', 'looking ahead to 2013 , sales volumes in the first quarter are expected to be lower than in the fourth quarter of 2012 due to seasonally weaker customer demand for uncoated freesheet paper .', 'average sales price realizations are expected to increase in the brazilian domestic market due to the realization of an announced sales price increase for uncoated free- sheet paper , but the benefit should be partially offset by pricing pressures in export markets .', 'average sales margins are expected to be negatively impacted by a less favorable geographic mix .', 'input costs are expected to be about flat due to lower energy costs being offset by higher costs for wood , purchased pulp , chemicals and utilities .', 'planned maintenance outage costs should be $ 4 million lower with no outages scheduled in the first quarter .', 'operating costs should be favorably impacted by the savings generated by the start-up of a new biomass boiler at the mogi guacu mill .', 'european papers net sales in 2012 were $ 1.4 bil- lion compared with $ 1.4 billion in 2011 and $ 1.3 bil- lion in 2010 .', 'operating profits in 2012 were $ 179 million compared with $ 196 million ( $ 207 million excluding asset impairment charges related to our inverurie , scotland mill which was closed in 2009 ) in 2011 and $ 197 million ( $ 199 million excluding an asset impairment charge ) in 2010 .', 'sales volumes in 2012 compared with 2011 were higher for uncoated freesheet paper in both europe and russia , while sales volumes for pulp were lower in both regions .', 'average sales price realizations for uncoated .'] | 0.43339 | IP/2012/page_56.pdf-1 | ['printing papers demand for printing papers products is closely corre- lated with changes in commercial printing and advertising activity , direct mail volumes and , for uncoated cut-size products , with changes in white- collar employment levels that affect the usage of copy and laser printer paper .', 'pulp is further affected by changes in currency rates that can enhance or disadvantage producers in different geographic regions .', 'principal cost drivers include manufacturing efficiency , raw material and energy costs and freight costs .', 'pr int ing papers net sales for 2012 were about flat with 2011 and increased 5% ( 5 % ) from 2010 .', 'operat- ing profits in 2012 were 31% ( 31 % ) lower than in 2011 , but 25% ( 25 % ) higher than in 2010 .', 'excluding facility closure costs and impairment costs , operating profits in 2012 were 30% ( 30 % ) lower than in 2011 and 25% ( 25 % ) lower than in 2010 .', 'benefits from higher sales volumes ( $ 58 mil- lion ) were more than offset by lower sales price real- izations and an unfavorable product mix ( $ 233 million ) , higher operating costs ( $ 30 million ) , higher maintenance outage costs ( $ 17 million ) , higher input costs ( $ 32 million ) and other items ( $ 6 million ) .', 'in addition , operating profits in 2011 included a $ 24 million gain related to the announced repurposing of our franklin , virginia mill to produce fluff pulp and an $ 11 million impairment charge related to our inverurie , scotland mill that was closed in 2009 .', 'printing papers .'] | ['north american pr int ing papers net sales were $ 2.7 billion in 2012 , $ 2.8 billion in 2011 and $ 2.8 billion in 2010 .', 'operating profits in 2012 were $ 331 million compared with $ 423 million ( $ 399 million excluding a $ 24 million gain associated with the repurposing of our franklin , virginia mill ) in 2011 and $ 18 million ( $ 333 million excluding facility clo- sure costs ) in 2010 .', 'sales volumes in 2012 were flat with 2011 .', 'average sales margins were lower primarily due to lower export sales prices and higher export sales volume .', 'input costs were higher for wood and chemicals , but were partially offset by lower purchased pulp costs .', 'freight costs increased due to higher oil prices .', 'manufacturing operating costs were favorable reflecting strong mill performance .', 'planned main- tenance downtime costs were slightly higher in 2012 .', 'no market-related downtime was taken in either 2012 or 2011 .', 'entering the first quarter of 2013 , sales volumes are expected to increase compared with the fourth quar- ter of 2012 reflecting seasonally stronger demand .', 'average sales price realizations are expected to be relatively flat as sales price realizations for domestic and export uncoated freesheet roll and cutsize paper should be stable .', 'input costs should increase for energy , chemicals and wood .', 'planned maintenance downtime costs are expected to be about $ 19 million lower with an outage scheduled at our georgetown mill versus outages at our courtland and eastover mills in the fourth quarter of 2012 .', 'braz i l ian papers net sales for 2012 were $ 1.1 bil- lion compared with $ 1.2 billion in 2011 and $ 1.1 bil- lion in 2010 .', 'operating profits for 2012 were $ 163 million compared with $ 169 million in 2011 and $ 159 million in 2010 .', 'sales volumes in 2012 were higher than in 2011 as international paper improved its segment position in the brazilian market despite weaker year-over-year conditions in most markets .', 'average sales price realizations improved for domestic uncoated freesheet paper , but the benefit was more than offset by declining prices for exported paper .', 'margins were favorably affected by an increased proportion of sales to the higher- margin domestic market .', 'raw material costs increased for wood and chemicals , but costs for purchased pulp decreased .', 'operating costs and planned maintenance downtime costs were lower than in 2011 .', 'looking ahead to 2013 , sales volumes in the first quarter are expected to be lower than in the fourth quarter of 2012 due to seasonally weaker customer demand for uncoated freesheet paper .', 'average sales price realizations are expected to increase in the brazilian domestic market due to the realization of an announced sales price increase for uncoated free- sheet paper , but the benefit should be partially offset by pricing pressures in export markets .', 'average sales margins are expected to be negatively impacted by a less favorable geographic mix .', 'input costs are expected to be about flat due to lower energy costs being offset by higher costs for wood , purchased pulp , chemicals and utilities .', 'planned maintenance outage costs should be $ 4 million lower with no outages scheduled in the first quarter .', 'operating costs should be favorably impacted by the savings generated by the start-up of a new biomass boiler at the mogi guacu mill .', 'european papers net sales in 2012 were $ 1.4 bil- lion compared with $ 1.4 billion in 2011 and $ 1.3 bil- lion in 2010 .', 'operating profits in 2012 were $ 179 million compared with $ 196 million ( $ 207 million excluding asset impairment charges related to our inverurie , scotland mill which was closed in 2009 ) in 2011 and $ 197 million ( $ 199 million excluding an asset impairment charge ) in 2010 .', 'sales volumes in 2012 compared with 2011 were higher for uncoated freesheet paper in both europe and russia , while sales volumes for pulp were lower in both regions .', 'average sales price realizations for uncoated .'] | ****************************************
Row 1: in millions, 2012, 2011, 2010
Row 2: sales, $ 6230, $ 6215, $ 5940
Row 3: operating profit, 599, 872, 481
**************************************** | multiply(2.7, const_1000), divide(#0, 6230) | 0.43339 |
what were average operating profit for space systems in millions between 2014 and 2016? | Background: ['segment includes awe and our share of earnings for our investment in ula , which provides expendable launch services to the u.s .', 'government .', 'space systems 2019 operating results included the following ( in millions ) : .']
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Data Table:
| 2016 | 2015 | 2014
----------|----------|----------|----------
net sales | $ 9409 | $ 9105 | $ 9202
operating profit | 1289 | 1171 | 1187
operating margin | 13.7% ( 13.7 % ) | 12.9% ( 12.9 % ) | 12.9% ( 12.9 % )
backlog atyear-end | $ 18900 | $ 17400 | $ 20300
------
Follow-up: ['2016 compared to 2015 space systems 2019 net sales in 2016 increased $ 304 million , or 3% ( 3 % ) , compared to 2015 .', 'the increase was attributable to net sales of approximately $ 410 million from awe following the consolidation of this business in the third quarter of 2016 ; and approximately $ 150 million for commercial space transportation programs due to increased launch-related activities ; and approximately $ 70 million of higher net sales for various programs ( primarily fleet ballistic missiles ) due to increased volume .', 'these increases were partially offset by a decrease in net sales of approximately $ 340 million for government satellite programs due to decreased volume ( primarily sbirs and muos ) and the wind-down or completion of mission solutions programs .', 'space systems 2019 operating profit in 2016 increased $ 118 million , or 10% ( 10 % ) , compared to 2015 .', 'the increase was primarily attributable to a non-cash , pre-tax gain of approximately $ 127 million related to the consolidation of awe ; and approximately $ 80 million of increased equity earnings from joint ventures ( primarily ula ) .', 'these increases were partially offset by a decrease of approximately $ 105 million for government satellite programs due to lower risk retirements ( primarily sbirs , muos and mission solutions programs ) and decreased volume .', 'adjustments not related to volume , including net profit booking rate adjustments , were approximately $ 185 million lower in 2016 compared to 2015 .', '2015 compared to 2014 space systems 2019 net sales in 2015 decreased $ 97 million , or 1% ( 1 % ) , compared to 2014 .', 'the decrease was attributable to approximately $ 335 million lower net sales for government satellite programs due to decreased volume ( primarily aehf ) and the wind-down or completion of mission solutions programs ; and approximately $ 55 million for strategic missile and defense systems due to lower volume .', 'these decreases were partially offset by higher net sales of approximately $ 235 million for businesses acquired in 2014 ; and approximately $ 75 million for the orion program due to increased volume .', 'space systems 2019 operating profit in 2015 decreased $ 16 million , or 1% ( 1 % ) , compared to 2014 .', 'operating profit increased approximately $ 85 million for government satellite programs due primarily to increased risk retirements .', 'this increase was offset by lower operating profit of approximately $ 65 million for commercial satellite programs due to performance matters on certain programs ; and approximately $ 35 million due to decreased equity earnings in joint ventures .', 'adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 105 million higher in 2015 compared to 2014 .', 'equity earnings total equity earnings recognized by space systems ( primarily ula ) represented approximately $ 325 million , $ 245 million and $ 280 million , or 25% ( 25 % ) , 21% ( 21 % ) and 24% ( 24 % ) of this business segment 2019s operating profit during 2016 , 2015 and backlog backlog increased in 2016 compared to 2015 primarily due to the addition of awe 2019s backlog .', 'backlog decreased in 2015 compared to 2014 primarily due to lower orders for government satellite programs and the orion program and higher sales on the orion program .', 'trends we expect space systems 2019 2017 net sales to decrease in the mid-single digit percentage range as compared to 2016 , driven by program lifecycles on government satellite programs , partially offset by the recognition of awe net sales for a full year in 2017 versus a partial year in 2016 following the consolidation of awe in the third quarter of 2016 .', 'operating profit .'] | 1215.66667 | LMT/2016/page_52.pdf-4 | ['segment includes awe and our share of earnings for our investment in ula , which provides expendable launch services to the u.s .', 'government .', 'space systems 2019 operating results included the following ( in millions ) : .'] | ['2016 compared to 2015 space systems 2019 net sales in 2016 increased $ 304 million , or 3% ( 3 % ) , compared to 2015 .', 'the increase was attributable to net sales of approximately $ 410 million from awe following the consolidation of this business in the third quarter of 2016 ; and approximately $ 150 million for commercial space transportation programs due to increased launch-related activities ; and approximately $ 70 million of higher net sales for various programs ( primarily fleet ballistic missiles ) due to increased volume .', 'these increases were partially offset by a decrease in net sales of approximately $ 340 million for government satellite programs due to decreased volume ( primarily sbirs and muos ) and the wind-down or completion of mission solutions programs .', 'space systems 2019 operating profit in 2016 increased $ 118 million , or 10% ( 10 % ) , compared to 2015 .', 'the increase was primarily attributable to a non-cash , pre-tax gain of approximately $ 127 million related to the consolidation of awe ; and approximately $ 80 million of increased equity earnings from joint ventures ( primarily ula ) .', 'these increases were partially offset by a decrease of approximately $ 105 million for government satellite programs due to lower risk retirements ( primarily sbirs , muos and mission solutions programs ) and decreased volume .', 'adjustments not related to volume , including net profit booking rate adjustments , were approximately $ 185 million lower in 2016 compared to 2015 .', '2015 compared to 2014 space systems 2019 net sales in 2015 decreased $ 97 million , or 1% ( 1 % ) , compared to 2014 .', 'the decrease was attributable to approximately $ 335 million lower net sales for government satellite programs due to decreased volume ( primarily aehf ) and the wind-down or completion of mission solutions programs ; and approximately $ 55 million for strategic missile and defense systems due to lower volume .', 'these decreases were partially offset by higher net sales of approximately $ 235 million for businesses acquired in 2014 ; and approximately $ 75 million for the orion program due to increased volume .', 'space systems 2019 operating profit in 2015 decreased $ 16 million , or 1% ( 1 % ) , compared to 2014 .', 'operating profit increased approximately $ 85 million for government satellite programs due primarily to increased risk retirements .', 'this increase was offset by lower operating profit of approximately $ 65 million for commercial satellite programs due to performance matters on certain programs ; and approximately $ 35 million due to decreased equity earnings in joint ventures .', 'adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 105 million higher in 2015 compared to 2014 .', 'equity earnings total equity earnings recognized by space systems ( primarily ula ) represented approximately $ 325 million , $ 245 million and $ 280 million , or 25% ( 25 % ) , 21% ( 21 % ) and 24% ( 24 % ) of this business segment 2019s operating profit during 2016 , 2015 and backlog backlog increased in 2016 compared to 2015 primarily due to the addition of awe 2019s backlog .', 'backlog decreased in 2015 compared to 2014 primarily due to lower orders for government satellite programs and the orion program and higher sales on the orion program .', 'trends we expect space systems 2019 2017 net sales to decrease in the mid-single digit percentage range as compared to 2016 , driven by program lifecycles on government satellite programs , partially offset by the recognition of awe net sales for a full year in 2017 versus a partial year in 2016 following the consolidation of awe in the third quarter of 2016 .', 'operating profit .'] | | 2016 | 2015 | 2014
----------|----------|----------|----------
net sales | $ 9409 | $ 9105 | $ 9202
operating profit | 1289 | 1171 | 1187
operating margin | 13.7% ( 13.7 % ) | 12.9% ( 12.9 % ) | 12.9% ( 12.9 % )
backlog atyear-end | $ 18900 | $ 17400 | $ 20300 | table_average(operating profit, none) | 1215.66667 |
what is the total equity in 2009 , in millions of dollars? | Background: ['jpmorgan chase & co./2009 annual report 173 trading assets and liabilities average balances average trading assets and liabilities were as follows for the periods indicated. .']
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Tabular Data:
year ended december 31 ( in millions ) | 2009 | 2008 | 2007
----------|----------|----------|----------
trading assets 2013 debt and equity instruments | $ 318063 | $ 384102 | $ 381415
trading assets 2013 derivative receivables | 110457 | 121417 | 65439
trading liabilities 2013 debt and equityinstruments ( a ) | $ 60224 | $ 78841 | $ 94737
trading liabilities 2013 derivative payables | 77901 | 93200 | 65198
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Additional Information: ['( a ) primarily represent securities sold , not yet purchased .', 'note 4 2013 fair value option the fair value option provides an option to elect fair value as an alternative measurement for selected financial assets , financial liabilities , unrecognized firm commitments , and written loan com- mitments not previously carried at fair value .', 'elections elections were made by the firm to : 2022 mitigate income statement volatility caused by the differences in the measurement basis of elected instruments ( for example , cer- tain instruments elected were previously accounted for on an accrual basis ) while the associated risk management arrange- ments are accounted for on a fair value basis ; 2022 eliminate the complexities of applying certain accounting models ( e.g. , hedge accounting or bifurcation accounting for hybrid in- struments ) ; and 2022 better reflect those instruments that are managed on a fair value basis .', 'elections include : 2022 securities financing arrangements with an embedded derivative and/or a maturity of greater than one year .', '2022 loans purchased or originated as part of securitization ware- housing activity , subject to bifurcation accounting , or managed on a fair value basis .', '2022 structured notes issued as part of ib 2019s client-driven activities .', '( structured notes are financial instruments that contain embed- ded derivatives. ) 2022 certain tax credits and other equity investments acquired as part of the washington mutual transaction .', 'the cumulative effect on retained earnings of the adoption of the fair value option on january 1 , 2007 , was $ 199 million. .'] | 290395.0 | JPM/2009/page_175.pdf-4 | ['jpmorgan chase & co./2009 annual report 173 trading assets and liabilities average balances average trading assets and liabilities were as follows for the periods indicated. .'] | ['( a ) primarily represent securities sold , not yet purchased .', 'note 4 2013 fair value option the fair value option provides an option to elect fair value as an alternative measurement for selected financial assets , financial liabilities , unrecognized firm commitments , and written loan com- mitments not previously carried at fair value .', 'elections elections were made by the firm to : 2022 mitigate income statement volatility caused by the differences in the measurement basis of elected instruments ( for example , cer- tain instruments elected were previously accounted for on an accrual basis ) while the associated risk management arrange- ments are accounted for on a fair value basis ; 2022 eliminate the complexities of applying certain accounting models ( e.g. , hedge accounting or bifurcation accounting for hybrid in- struments ) ; and 2022 better reflect those instruments that are managed on a fair value basis .', 'elections include : 2022 securities financing arrangements with an embedded derivative and/or a maturity of greater than one year .', '2022 loans purchased or originated as part of securitization ware- housing activity , subject to bifurcation accounting , or managed on a fair value basis .', '2022 structured notes issued as part of ib 2019s client-driven activities .', '( structured notes are financial instruments that contain embed- ded derivatives. ) 2022 certain tax credits and other equity investments acquired as part of the washington mutual transaction .', 'the cumulative effect on retained earnings of the adoption of the fair value option on january 1 , 2007 , was $ 199 million. .'] | year ended december 31 ( in millions ) | 2009 | 2008 | 2007
----------|----------|----------|----------
trading assets 2013 debt and equity instruments | $ 318063 | $ 384102 | $ 381415
trading assets 2013 derivative receivables | 110457 | 121417 | 65439
trading liabilities 2013 debt and equityinstruments ( a ) | $ 60224 | $ 78841 | $ 94737
trading liabilities 2013 derivative payables | 77901 | 93200 | 65198 | add(318063, 110457), add(60224, 77901), subtract(#0, #1) | 290395.0 |
what is the percentage change in the balance of the minority interests in consolidated subsidiaries from 2006 to 2007? | Context: ['2007 annual report 61 warranties : snap-on provides product warranties for specific product lines and accrues for estimated future warranty costs in the period in which the sale is recorded .', 'see note 15 for further information on warranties .', 'minority interests and equity earnings ( loss ) of unconsolidated affiliates : 201cminority interests and equity earnings ( loss ) , net of tax 201d on the accompanying consolidated statements of earnings is comprised of the following : ( amounts in millions ) 2007 2006 2005 .']
####
Data Table:
****************************************
( amounts in millions ) | 2007 | 2006 | 2005
minority interests | $ -4.9 ( 4.9 ) | $ -3.7 ( 3.7 ) | $ -3.5 ( 3.5 )
equity earnings ( loss ) net of tax | 2.4 | 2014 | 2.1
total | $ -2.5 ( 2.5 ) | $ -3.7 ( 3.7 ) | $ -1.4 ( 1.4 )
****************************************
####
Additional Information: ['minority interests in consolidated subsidiaries of $ 17.3 million as of december 29 , 2007 , and $ 16.8 million as of december 30 , 2006 , are included in 201cother long-term liabilities 201d on the accompanying consolidated balance sheets .', 'investments in unconsolidated affiliates of $ 30.7 million as of december 29 , 2007 , and $ 30.6 million as of december 30 , 2006 , are included in 201cother assets 201d on the accompanying consolidated balance sheets .', 'foreign currency translation : the financial statements of snap-on 2019s foreign subsidiaries are translated into u.s .', 'dollars in accordance with sfas no .', '52 , 201cforeign currency translation . 201d assets and liabilities of foreign subsidiaries are translated at current rates of exchange , and income and expense items are translated at the average exchange rate for the period .', 'the resulting translation adjustments are recorded directly into 201caccumulated other comprehensive income ( loss ) 201d on the accompanying consolidated balance sheets .', 'foreign exchange transactions resulted in pretax losses of $ 1.7 million in 2007 and $ 1.2 million in 2006 , and a pretax gain of $ 0.7 million in 2005 .', 'foreign exchange transaction gains and losses are reported in 201cother income ( expense ) - net 201d on the accompanying consolidated statements of earnings .', 'income taxes : in the ordinary course of business there is inherent uncertainty in quantifying income tax positions .', 'we assess income tax positions and record tax benefits for all years subject to examination based upon management 2019s evaluation of the facts , circumstances and information available at the reporting dates .', 'for those tax positions where it is more-likely-than-not that a tax benefit will be sustained , we record the largest amount of tax benefit with a greater than 50% ( 50 % ) likelihood of being realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information .', 'for those income tax positions where it is not more-likely-than-not that a tax benefit will be sustained , no tax benefit is recognized in the financial statements .', 'when applicable , associated interest and penalties are recognized as a component of income tax expense .', 'accrued interest and penalties are included within the related tax liability in the accompanying consolidated balance sheets .', 'deferred income taxes are provided for temporary differences arising from differences in bases of assets and liabilities for tax and financial reporting purposes .', 'deferred income taxes are recorded on temporary differences using enacted tax rates in effect for the year in which the temporary differences are expected to reverse .', 'the effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date .', 'see note 8 for further information on income taxes .', 'per share data : basic earnings per share calculations were computed by dividing net earnings by the corresponding weighted-average number of common shares outstanding for the period .', 'the dilutive effect of the potential exercise of outstanding options to purchase common shares is calculated using the treasury stock method .', 'snap-on had dilutive shares as of year-end 2007 , 2006 and 2005 , of 731442 shares , 911697 shares and 584222 shares , respectively .', 'options to purchase 493544 shares , 23000 shares and 612892 shares of snap-on common stock for the fiscal years ended 2007 , 2006 and 2005 , respectively , were not included in the computation of diluted earnings per share as the exercise prices of the options were greater than the average market price of the common stock for the respective year and , as a result , the effect on earnings per share would be anti-dilutive .', 'stock-based compensation : effective january 1 , 2006 , the company adopted sfas no .', '123 ( r ) , 201cshare-based payment , 201d using the modified prospective method .', 'sfas no .', '123 ( r ) requires entities to recognize the cost of employee services in exchange for awards of equity instruments based on the grant-date fair value of those awards ( with limited exceptions ) .', 'that cost , based on the estimated number of awards that are expected to vest , is recognized over the period during which the employee is required to provide the service in exchange for the award .', 'no compensation cost is recognized for awards for which employees do not render the requisite service .', 'upon adoption , the grant-date fair value of employee share options .'] | 0.02976 | SNA/2007/page_69.pdf-2 | ['2007 annual report 61 warranties : snap-on provides product warranties for specific product lines and accrues for estimated future warranty costs in the period in which the sale is recorded .', 'see note 15 for further information on warranties .', 'minority interests and equity earnings ( loss ) of unconsolidated affiliates : 201cminority interests and equity earnings ( loss ) , net of tax 201d on the accompanying consolidated statements of earnings is comprised of the following : ( amounts in millions ) 2007 2006 2005 .'] | ['minority interests in consolidated subsidiaries of $ 17.3 million as of december 29 , 2007 , and $ 16.8 million as of december 30 , 2006 , are included in 201cother long-term liabilities 201d on the accompanying consolidated balance sheets .', 'investments in unconsolidated affiliates of $ 30.7 million as of december 29 , 2007 , and $ 30.6 million as of december 30 , 2006 , are included in 201cother assets 201d on the accompanying consolidated balance sheets .', 'foreign currency translation : the financial statements of snap-on 2019s foreign subsidiaries are translated into u.s .', 'dollars in accordance with sfas no .', '52 , 201cforeign currency translation . 201d assets and liabilities of foreign subsidiaries are translated at current rates of exchange , and income and expense items are translated at the average exchange rate for the period .', 'the resulting translation adjustments are recorded directly into 201caccumulated other comprehensive income ( loss ) 201d on the accompanying consolidated balance sheets .', 'foreign exchange transactions resulted in pretax losses of $ 1.7 million in 2007 and $ 1.2 million in 2006 , and a pretax gain of $ 0.7 million in 2005 .', 'foreign exchange transaction gains and losses are reported in 201cother income ( expense ) - net 201d on the accompanying consolidated statements of earnings .', 'income taxes : in the ordinary course of business there is inherent uncertainty in quantifying income tax positions .', 'we assess income tax positions and record tax benefits for all years subject to examination based upon management 2019s evaluation of the facts , circumstances and information available at the reporting dates .', 'for those tax positions where it is more-likely-than-not that a tax benefit will be sustained , we record the largest amount of tax benefit with a greater than 50% ( 50 % ) likelihood of being realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information .', 'for those income tax positions where it is not more-likely-than-not that a tax benefit will be sustained , no tax benefit is recognized in the financial statements .', 'when applicable , associated interest and penalties are recognized as a component of income tax expense .', 'accrued interest and penalties are included within the related tax liability in the accompanying consolidated balance sheets .', 'deferred income taxes are provided for temporary differences arising from differences in bases of assets and liabilities for tax and financial reporting purposes .', 'deferred income taxes are recorded on temporary differences using enacted tax rates in effect for the year in which the temporary differences are expected to reverse .', 'the effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date .', 'see note 8 for further information on income taxes .', 'per share data : basic earnings per share calculations were computed by dividing net earnings by the corresponding weighted-average number of common shares outstanding for the period .', 'the dilutive effect of the potential exercise of outstanding options to purchase common shares is calculated using the treasury stock method .', 'snap-on had dilutive shares as of year-end 2007 , 2006 and 2005 , of 731442 shares , 911697 shares and 584222 shares , respectively .', 'options to purchase 493544 shares , 23000 shares and 612892 shares of snap-on common stock for the fiscal years ended 2007 , 2006 and 2005 , respectively , were not included in the computation of diluted earnings per share as the exercise prices of the options were greater than the average market price of the common stock for the respective year and , as a result , the effect on earnings per share would be anti-dilutive .', 'stock-based compensation : effective january 1 , 2006 , the company adopted sfas no .', '123 ( r ) , 201cshare-based payment , 201d using the modified prospective method .', 'sfas no .', '123 ( r ) requires entities to recognize the cost of employee services in exchange for awards of equity instruments based on the grant-date fair value of those awards ( with limited exceptions ) .', 'that cost , based on the estimated number of awards that are expected to vest , is recognized over the period during which the employee is required to provide the service in exchange for the award .', 'no compensation cost is recognized for awards for which employees do not render the requisite service .', 'upon adoption , the grant-date fair value of employee share options .'] | ****************************************
( amounts in millions ) | 2007 | 2006 | 2005
minority interests | $ -4.9 ( 4.9 ) | $ -3.7 ( 3.7 ) | $ -3.5 ( 3.5 )
equity earnings ( loss ) net of tax | 2.4 | 2014 | 2.1
total | $ -2.5 ( 2.5 ) | $ -3.7 ( 3.7 ) | $ -1.4 ( 1.4 )
**************************************** | subtract(17.3, 16.8), divide(#0, 16.8) | 0.02976 |
for home equity unresolved asserted indemnification and repurchase claims in millions , what was the change between december 31 2012 and december 31 2011?\\n\\n\\n\\n | Pre-text: ['home equity repurchase obligations pnc 2019s repurchase obligations include obligations with respect to certain brokered home equity loans/lines that were sold to a limited number of private investors in the financial services industry by national city prior to our acquisition of national city .', 'pnc is no longer engaged in the brokered home equity lending business , and our exposure under these loan repurchase obligations is limited to repurchases of the loans sold in these transactions .', 'repurchase activity associated with brokered home equity lines/loans is reported in the non- strategic assets portfolio segment .', 'loan covenants and representations and warranties were established through loan sale agreements with various investors to provide assurance that loans pnc sold to the investors are of sufficient investment quality .', 'key aspects of such covenants and representations and warranties include the loan 2019s compliance with any applicable loan criteria established for the transaction , including underwriting standards , delivery of all required loan documents to the investor or its designated party , sufficient collateral valuation , and the validity of the lien securing the loan .', 'as a result of alleged breaches of these contractual obligations , investors may request pnc to indemnify them against losses on certain loans or to repurchase loans .', 'we investigate every investor claim on a loan by loan basis to determine the existence of a legitimate claim , and that all other conditions for indemnification or repurchase have been met prior to settlement with that investor .', 'indemnifications for loss or loan repurchases typically occur when , after review of the claim , we agree insufficient evidence exists to dispute the investor 2019s claim that a breach of a loan covenant and representation and warranty has occurred , such breach has not been cured , and the effect of such breach is deemed to have had a material and adverse effect on the value of the transferred loan .', 'depending on the sale agreement and upon proper notice from the investor , we typically respond to home equity indemnification and repurchase requests within 60 days , although final resolution of the claim may take a longer period of time .', 'most home equity sale agreements do not provide for penalties or other remedies if we do not respond timely to investor indemnification or repurchase requests .', 'investor indemnification or repurchase claims are typically settled on an individual loan basis through make-whole payments or loan repurchases ; however , on occasion we may negotiate pooled settlements with investors .', 'in connection with pooled settlements , we typically do not repurchase loans and the consummation of such transactions generally results in us no longer having indemnification and repurchase exposure with the investor in the transaction .', 'the following table details the unpaid principal balance of our unresolved home equity indemnification and repurchase claims at december 31 , 2012 and december 31 , 2011 , respectively .', 'table 31 : analysis of home equity unresolved asserted indemnification and repurchase claims in millions december 31 december 31 .']
Data Table:
========================================
in millions december 31 2012 december 31 2011
home equity loans/lines:
private investors ( a ) $ 74 $ 110
========================================
Post-table: ['( a ) activity relates to brokered home equity loans/lines sold through loan sale transactions which occurred during 2005-2007 .', 'the pnc financial services group , inc .', '2013 form 10-k 81 .'] | -36.0 | PNC/2012/page_100.pdf-1 | ['home equity repurchase obligations pnc 2019s repurchase obligations include obligations with respect to certain brokered home equity loans/lines that were sold to a limited number of private investors in the financial services industry by national city prior to our acquisition of national city .', 'pnc is no longer engaged in the brokered home equity lending business , and our exposure under these loan repurchase obligations is limited to repurchases of the loans sold in these transactions .', 'repurchase activity associated with brokered home equity lines/loans is reported in the non- strategic assets portfolio segment .', 'loan covenants and representations and warranties were established through loan sale agreements with various investors to provide assurance that loans pnc sold to the investors are of sufficient investment quality .', 'key aspects of such covenants and representations and warranties include the loan 2019s compliance with any applicable loan criteria established for the transaction , including underwriting standards , delivery of all required loan documents to the investor or its designated party , sufficient collateral valuation , and the validity of the lien securing the loan .', 'as a result of alleged breaches of these contractual obligations , investors may request pnc to indemnify them against losses on certain loans or to repurchase loans .', 'we investigate every investor claim on a loan by loan basis to determine the existence of a legitimate claim , and that all other conditions for indemnification or repurchase have been met prior to settlement with that investor .', 'indemnifications for loss or loan repurchases typically occur when , after review of the claim , we agree insufficient evidence exists to dispute the investor 2019s claim that a breach of a loan covenant and representation and warranty has occurred , such breach has not been cured , and the effect of such breach is deemed to have had a material and adverse effect on the value of the transferred loan .', 'depending on the sale agreement and upon proper notice from the investor , we typically respond to home equity indemnification and repurchase requests within 60 days , although final resolution of the claim may take a longer period of time .', 'most home equity sale agreements do not provide for penalties or other remedies if we do not respond timely to investor indemnification or repurchase requests .', 'investor indemnification or repurchase claims are typically settled on an individual loan basis through make-whole payments or loan repurchases ; however , on occasion we may negotiate pooled settlements with investors .', 'in connection with pooled settlements , we typically do not repurchase loans and the consummation of such transactions generally results in us no longer having indemnification and repurchase exposure with the investor in the transaction .', 'the following table details the unpaid principal balance of our unresolved home equity indemnification and repurchase claims at december 31 , 2012 and december 31 , 2011 , respectively .', 'table 31 : analysis of home equity unresolved asserted indemnification and repurchase claims in millions december 31 december 31 .'] | ['( a ) activity relates to brokered home equity loans/lines sold through loan sale transactions which occurred during 2005-2007 .', 'the pnc financial services group , inc .', '2013 form 10-k 81 .'] | ========================================
in millions december 31 2012 december 31 2011
home equity loans/lines:
private investors ( a ) $ 74 $ 110
======================================== | subtract(74, 110) | -36.0 |
what were average incentive fees in millions for the three year period? | Background: ['management 2019s discussion and analysis 2011 versus 2010 .', 'net revenues in investing & lending were $ 2.14 billion and $ 7.54 billion for 2011 and 2010 , respectively .', 'during 2011 , investing & lending results reflected an operating environment characterized by a significant decline in equity markets in europe and asia , and unfavorable credit markets that were negatively impacted by increased concerns regarding the weakened state of global economies , including heightened european sovereign debt risk .', 'results for 2011 included a loss of $ 517 million from our investment in the ordinary shares of icbc and net gains of $ 1.12 billion from other investments in equities , primarily in private equities , partially offset by losses from public equities .', 'in addition , investing & lending included net revenues of $ 96 million from debt securities and loans .', 'this amount includes approximately $ 1 billion of unrealized losses related to relationship lending activities , including the effect of hedges , offset by net interest income and net gains from other debt securities and loans .', 'results for 2011 also included other net revenues of $ 1.44 billion , principally related to our consolidated investment entities .', 'results for 2010 included a gain of $ 747 million from our investment in the ordinary shares of icbc , a net gain of $ 2.69 billion from other investments in equities , a net gain of $ 2.60 billion from debt securities and loans and other net revenues of $ 1.51 billion , principally related to our consolidated investment entities .', 'the net gain from other investments in equities was primarily driven by an increase in global equity markets , which resulted in appreciation of both our public and private equity positions and provided favorable conditions for initial public offerings .', 'the net gains and net interest from debt securities and loans primarily reflected the impact of tighter credit spreads and favorable credit markets during the year , which provided favorable conditions for borrowers to refinance .', 'operating expenses were $ 2.67 billion for 2011 , 20% ( 20 % ) lower than 2010 , due to decreased compensation and benefits expenses , primarily resulting from lower net revenues .', 'this decrease was partially offset by the impact of impairment charges related to consolidated investments during 2011 .', 'pre-tax loss was $ 531 million in 2011 , compared with pre-tax earnings of $ 4.18 billion in 2010 .', 'investment management investment management provides investment management services and offers investment products ( primarily through separately managed accounts and commingled vehicles , such as mutual funds and private investment funds ) across all major asset classes to a diverse set of institutional and individual clients .', 'investment management also offers wealth advisory services , including portfolio management and financial counseling , and brokerage and other transaction services to high-net-worth individuals and families .', 'assets under supervision include assets under management and other client assets .', 'assets under management include client assets where we earn a fee for managing assets on a discretionary basis .', 'this includes net assets in our mutual funds , hedge funds , credit funds and private equity funds ( including real estate funds ) , and separately managed accounts for institutional and individual investors .', 'other client assets include client assets invested with third-party managers , private bank deposits and assets related to advisory relationships where we earn a fee for advisory and other services , but do not have discretion over the assets .', 'assets under supervision do not include the self-directed brokerage accounts of our clients .', 'assets under management and other client assets typically generate fees as a percentage of net asset value , which vary by asset class and are affected by investment performance as well as asset inflows and redemptions .', 'in certain circumstances , we are also entitled to receive incentive fees based on a percentage of a fund 2019s return or when the return exceeds a specified benchmark or other performance targets .', 'incentive fees are recognized only when all material contingencies are resolved .', 'the table below presents the operating results of our investment management segment. .']
########
Data Table:
in millions year ended december 2012 year ended december 2011 year ended december 2010
management and other fees $ 4105 $ 4188 $ 3956
incentive fees 701 323 527
transaction revenues 416 523 531
total net revenues 5222 5034 5014
operating expenses 4294 4020 4082
pre-tax earnings $ 928 $ 1014 $ 932
########
Post-table: ['56 goldman sachs 2012 annual report .'] | 517.0 | GS/2012/page_58.pdf-2 | ['management 2019s discussion and analysis 2011 versus 2010 .', 'net revenues in investing & lending were $ 2.14 billion and $ 7.54 billion for 2011 and 2010 , respectively .', 'during 2011 , investing & lending results reflected an operating environment characterized by a significant decline in equity markets in europe and asia , and unfavorable credit markets that were negatively impacted by increased concerns regarding the weakened state of global economies , including heightened european sovereign debt risk .', 'results for 2011 included a loss of $ 517 million from our investment in the ordinary shares of icbc and net gains of $ 1.12 billion from other investments in equities , primarily in private equities , partially offset by losses from public equities .', 'in addition , investing & lending included net revenues of $ 96 million from debt securities and loans .', 'this amount includes approximately $ 1 billion of unrealized losses related to relationship lending activities , including the effect of hedges , offset by net interest income and net gains from other debt securities and loans .', 'results for 2011 also included other net revenues of $ 1.44 billion , principally related to our consolidated investment entities .', 'results for 2010 included a gain of $ 747 million from our investment in the ordinary shares of icbc , a net gain of $ 2.69 billion from other investments in equities , a net gain of $ 2.60 billion from debt securities and loans and other net revenues of $ 1.51 billion , principally related to our consolidated investment entities .', 'the net gain from other investments in equities was primarily driven by an increase in global equity markets , which resulted in appreciation of both our public and private equity positions and provided favorable conditions for initial public offerings .', 'the net gains and net interest from debt securities and loans primarily reflected the impact of tighter credit spreads and favorable credit markets during the year , which provided favorable conditions for borrowers to refinance .', 'operating expenses were $ 2.67 billion for 2011 , 20% ( 20 % ) lower than 2010 , due to decreased compensation and benefits expenses , primarily resulting from lower net revenues .', 'this decrease was partially offset by the impact of impairment charges related to consolidated investments during 2011 .', 'pre-tax loss was $ 531 million in 2011 , compared with pre-tax earnings of $ 4.18 billion in 2010 .', 'investment management investment management provides investment management services and offers investment products ( primarily through separately managed accounts and commingled vehicles , such as mutual funds and private investment funds ) across all major asset classes to a diverse set of institutional and individual clients .', 'investment management also offers wealth advisory services , including portfolio management and financial counseling , and brokerage and other transaction services to high-net-worth individuals and families .', 'assets under supervision include assets under management and other client assets .', 'assets under management include client assets where we earn a fee for managing assets on a discretionary basis .', 'this includes net assets in our mutual funds , hedge funds , credit funds and private equity funds ( including real estate funds ) , and separately managed accounts for institutional and individual investors .', 'other client assets include client assets invested with third-party managers , private bank deposits and assets related to advisory relationships where we earn a fee for advisory and other services , but do not have discretion over the assets .', 'assets under supervision do not include the self-directed brokerage accounts of our clients .', 'assets under management and other client assets typically generate fees as a percentage of net asset value , which vary by asset class and are affected by investment performance as well as asset inflows and redemptions .', 'in certain circumstances , we are also entitled to receive incentive fees based on a percentage of a fund 2019s return or when the return exceeds a specified benchmark or other performance targets .', 'incentive fees are recognized only when all material contingencies are resolved .', 'the table below presents the operating results of our investment management segment. .'] | ['56 goldman sachs 2012 annual report .'] | in millions year ended december 2012 year ended december 2011 year ended december 2010
management and other fees $ 4105 $ 4188 $ 3956
incentive fees 701 323 527
transaction revenues 416 523 531
total net revenues 5222 5034 5014
operating expenses 4294 4020 4082
pre-tax earnings $ 928 $ 1014 $ 932 | table_average(incentive fees, none) | 517.0 |
what portion of total rig count is in north america in 2018? | Background: ['32 | bhge 2018 form 10-k baker hughes rig count the baker hughes rig counts are an important business barometer for the drilling industry and its suppliers .', 'when drilling rigs are active they consume products and services produced by the oil service industry .', 'rig count trends are driven by the exploration and development spending by oil and natural gas companies , which in turn is influenced by current and future price expectations for oil and natural gas .', 'the counts may reflect the relative strength and stability of energy prices and overall market activity , however , these counts should not be solely relied on as other specific and pervasive conditions may exist that affect overall energy prices and market activity .', 'we have been providing rig counts to the public since 1944 .', 'we gather all relevant data through our field service personnel , who obtain the necessary data from routine visits to the various rigs , customers , contractors and other outside sources as necessary .', 'we base the classification of a well as either oil or natural gas primarily upon filings made by operators in the relevant jurisdiction .', 'this data is then compiled and distributed to various wire services and trade associations and is published on our website .', 'we believe the counting process and resulting data is reliable , however , it is subject to our ability to obtain accurate and timely information .', 'rig counts are compiled weekly for the u.s .', 'and canada and monthly for all international rigs .', 'published international rig counts do not include rigs drilling in certain locations , such as russia , the caspian region and onshore china because this information is not readily available .', 'rigs in the u.s .', 'and canada are counted as active if , on the day the count is taken , the well being drilled has been started but drilling has not been completed and the well is anticipated to be of sufficient depth to be a potential consumer of our drill bits .', 'in international areas , rigs are counted on a weekly basis and deemed active if drilling activities occurred during the majority of the week .', 'the weekly results are then averaged for the month and published accordingly .', 'the rig count does not include rigs that are in transit from one location to another , rigging up , being used in non-drilling activities including production testing , completion and workover , and are not expected to be significant consumers of drill bits .', 'the rig counts are summarized in the table below as averages for each of the periods indicated. .']
Data Table:
----------------------------------------
| 2018 | 2017 | 2016
north america | 1223 | 1082 | 642
international | 988 | 948 | 956
worldwide | 2211 | 2030 | 1598
----------------------------------------
Additional Information: ['2018 compared to 2017 overall the rig count was 2211 in 2018 , an increase of 9% ( 9 % ) as compared to 2017 due primarily to north american activity .', 'the rig count in north america increased 13% ( 13 % ) in 2018 compared to 2017 .', 'internationally , the rig count increased 4% ( 4 % ) in 2018 as compared to the same period last year .', 'within north america , the increase was primarily driven by the u.s .', 'rig count , which was up 18% ( 18 % ) on average versus 2017 , partially offset with a decrease in the canadian rig count , which was down 8% ( 8 % ) on average .', 'internationally , the improvement in the rig count was driven primarily by increases in the africa region of 18% ( 18 % ) , the asia-pacific region and latin america region , were also up by 9% ( 9 % ) and 3% ( 3 % ) , respectively , partially offset by the europe region , which was down 8% ( 8 % ) .', '2017 compared to 2016 overall the rig count was 2030 in 2017 , an increase of 27% ( 27 % ) as compared to 2016 due primarily to north american activity .', 'the rig count in north america increased 69% ( 69 % ) in 2017 compared to 2016 .', 'internationally , the rig count decreased 1% ( 1 % ) in 2017 as compared to the same period last year .', 'within north america , the increase was primarily driven by the land rig count , which was up 72% ( 72 % ) , partially offset by a decrease in the offshore rig count of 16% ( 16 % ) .', 'internationally , the rig count decrease was driven primarily by decreases in latin america of 7% ( 7 % ) , the europe region and africa region , which were down by 4% ( 4 % ) and 2% ( 2 % ) , respectively , partially offset by the asia-pacific region , which was up 8%. .'] | -988.0 | BKR/2018/page_52.pdf-1 | ['32 | bhge 2018 form 10-k baker hughes rig count the baker hughes rig counts are an important business barometer for the drilling industry and its suppliers .', 'when drilling rigs are active they consume products and services produced by the oil service industry .', 'rig count trends are driven by the exploration and development spending by oil and natural gas companies , which in turn is influenced by current and future price expectations for oil and natural gas .', 'the counts may reflect the relative strength and stability of energy prices and overall market activity , however , these counts should not be solely relied on as other specific and pervasive conditions may exist that affect overall energy prices and market activity .', 'we have been providing rig counts to the public since 1944 .', 'we gather all relevant data through our field service personnel , who obtain the necessary data from routine visits to the various rigs , customers , contractors and other outside sources as necessary .', 'we base the classification of a well as either oil or natural gas primarily upon filings made by operators in the relevant jurisdiction .', 'this data is then compiled and distributed to various wire services and trade associations and is published on our website .', 'we believe the counting process and resulting data is reliable , however , it is subject to our ability to obtain accurate and timely information .', 'rig counts are compiled weekly for the u.s .', 'and canada and monthly for all international rigs .', 'published international rig counts do not include rigs drilling in certain locations , such as russia , the caspian region and onshore china because this information is not readily available .', 'rigs in the u.s .', 'and canada are counted as active if , on the day the count is taken , the well being drilled has been started but drilling has not been completed and the well is anticipated to be of sufficient depth to be a potential consumer of our drill bits .', 'in international areas , rigs are counted on a weekly basis and deemed active if drilling activities occurred during the majority of the week .', 'the weekly results are then averaged for the month and published accordingly .', 'the rig count does not include rigs that are in transit from one location to another , rigging up , being used in non-drilling activities including production testing , completion and workover , and are not expected to be significant consumers of drill bits .', 'the rig counts are summarized in the table below as averages for each of the periods indicated. .'] | ['2018 compared to 2017 overall the rig count was 2211 in 2018 , an increase of 9% ( 9 % ) as compared to 2017 due primarily to north american activity .', 'the rig count in north america increased 13% ( 13 % ) in 2018 compared to 2017 .', 'internationally , the rig count increased 4% ( 4 % ) in 2018 as compared to the same period last year .', 'within north america , the increase was primarily driven by the u.s .', 'rig count , which was up 18% ( 18 % ) on average versus 2017 , partially offset with a decrease in the canadian rig count , which was down 8% ( 8 % ) on average .', 'internationally , the improvement in the rig count was driven primarily by increases in the africa region of 18% ( 18 % ) , the asia-pacific region and latin america region , were also up by 9% ( 9 % ) and 3% ( 3 % ) , respectively , partially offset by the europe region , which was down 8% ( 8 % ) .', '2017 compared to 2016 overall the rig count was 2030 in 2017 , an increase of 27% ( 27 % ) as compared to 2016 due primarily to north american activity .', 'the rig count in north america increased 69% ( 69 % ) in 2017 compared to 2016 .', 'internationally , the rig count decreased 1% ( 1 % ) in 2017 as compared to the same period last year .', 'within north america , the increase was primarily driven by the land rig count , which was up 72% ( 72 % ) , partially offset by a decrease in the offshore rig count of 16% ( 16 % ) .', 'internationally , the rig count decrease was driven primarily by decreases in latin america of 7% ( 7 % ) , the europe region and africa region , which were down by 4% ( 4 % ) and 2% ( 2 % ) , respectively , partially offset by the asia-pacific region , which was up 8%. .'] | ----------------------------------------
| 2018 | 2017 | 2016
north america | 1223 | 1082 | 642
international | 988 | 948 | 956
worldwide | 2211 | 2030 | 1598
---------------------------------------- | subtract(1223, 2211) | -988.0 |
what was the difference in cumulative percentage returns between edwards lifesciences and the s&p 500 for the five years ended 2016? | Context: ['2mar201707015999 ( c ) in october 2016 , our accelerated share repurchase ( 2018 2018asr 2019 2019 ) agreement concluded and we received an additional 44 thousand shares of our common stock .', 'shares purchased pursuant to the asr agreement are presented in the table above in the periods in which they were received .', 'performance graph the following graph compares the performance of our common stock with that of the s&p 500 index and the s&p 500 healthcare equipment index .', 'the cumulative total return listed below assumes an initial investment of $ 100 at the market close on december 30 , 2011 and reinvestment of dividends .', 'comparison of 5 year cumulative total return 2011 2012 2016201520142013 edwards lifesciences corporation s&p 500 s&p 500 healthcare equipment index december 31 .']
##########
Data Table:
========================================
total cumulative return | 2012 | 2013 | 2014 | 2015 | 2016
edwards lifesciences | $ 127.54 | $ 93.01 | $ 180.17 | $ 223.42 | $ 265.06
s&p 500 | 116.00 | 153.58 | 174.60 | 177.01 | 198.18
s&p 500 healthcare equipment index | 117.42 | 150.28 | 181.96 | 194.37 | 207.46
========================================
##########
Follow-up: ['.'] | 0.6688 | EW/2016/page_36.pdf-2 | ['2mar201707015999 ( c ) in october 2016 , our accelerated share repurchase ( 2018 2018asr 2019 2019 ) agreement concluded and we received an additional 44 thousand shares of our common stock .', 'shares purchased pursuant to the asr agreement are presented in the table above in the periods in which they were received .', 'performance graph the following graph compares the performance of our common stock with that of the s&p 500 index and the s&p 500 healthcare equipment index .', 'the cumulative total return listed below assumes an initial investment of $ 100 at the market close on december 30 , 2011 and reinvestment of dividends .', 'comparison of 5 year cumulative total return 2011 2012 2016201520142013 edwards lifesciences corporation s&p 500 s&p 500 healthcare equipment index december 31 .'] | ['.'] | ========================================
total cumulative return | 2012 | 2013 | 2014 | 2015 | 2016
edwards lifesciences | $ 127.54 | $ 93.01 | $ 180.17 | $ 223.42 | $ 265.06
s&p 500 | 116.00 | 153.58 | 174.60 | 177.01 | 198.18
s&p 500 healthcare equipment index | 117.42 | 150.28 | 181.96 | 194.37 | 207.46
======================================== | subtract(265.06, const_100), divide(#0, const_100), subtract(198.18, const_100), divide(#2, const_100), subtract(#1, #3) | 0.6688 |
what is the weight of the property&casualty operations relative to the total statutory capital? | Context: ['table of contents the table below sets forth statutory surplus for the company 2019s insurance companies .', 'the statutory surplus amounts as of december 31 , 2007 in the table below are based on actual statutory filings with the applicable regulatory authorities .', 'the statutory surplus amounts as of december 31 , 2008 are estimates , as the respective 2008 statutory filings have not yet been the company has received approval from the connecticut insurance department regarding the use of two permitted practices in the statutory financial statements of its connecticut-domiciled life insurance subsidiaries as of december 31 , 2008 .', 'the first permitted practice relates to the statutory accounting for deferred income taxes .', 'specifically , this permitted practice modifies the accounting for deferred income taxes prescribed by the naic by increasing the realization period for deferred tax assets from one year to three years and increasing the asset recognition limit from 10% ( 10 % ) to 15% ( 15 % ) of adjusted statutory capital and surplus .', 'the benefits of this permitted practice may not be considered by the company when determining surplus available for dividends .', 'the second permitted practice relates to the statutory reserving requirements for variable annuities with guaranteed living benefit riders .', 'actuarial guidelines prescribed by the naic require a stand-alone asset adequacy analysis reflecting only benefits , expenses and charges that are associated with the riders for variable annuities with guaranteed living benefits .', 'the permitted practice allows for all benefits , expenses and charges associated with the variable annuity contract to be reflected in the stand- alone asset adequacy test .', 'these permitted practices resulted in an increase to life operations estimated statutory surplus of $ 987 as of december 31 , 2008 .', 'the effects of these permitted practices are included in the 2008 life operations surplus amount in the table above .', 'statutory capital the company 2019s stockholders 2019 equity , as prepared using u.s .', 'gaap was $ 9.3 billion as of december 31 , 2008 .', 'the company 2019s estimated aggregate statutory capital and surplus , as prepared in accordance with the national association of insurance commissioners 2019 accounting practices and procedures manual ( 201cus stat 201d ) was $ 13.8 billion as of december 31 , 2008 .', 'significant differences between u.s .', 'gaap stockholders 2019 equity and aggregate statutory capital and surplus prepared in accordance with us stat include the following: .']
Tabular Data:
========================================
| 2008 | 2007
----------|----------|----------
life operations | $ 6047 | $ 5786
japan life operations | 1718 | 1620
property & casualty operations | 6012 | 8509
total | $ 13777 | $ 15915
========================================
Post-table: ['2022 costs incurred by the company to acquire insurance policies are deferred under u.s .', 'gaap while those costs are expensed immediately under us stat .', '2022 temporary differences between the book and tax basis of an asset or liability which are recorded as deferred tax assets are evaluated for recoverability under u.s .', 'gaap while those amounts deferred are subject to limitations under us stat .', '2022 certain assumptions used in the determination of life benefit reserves are prescribed under us stat and are intended to be conservative , while the assumptions used under u.s .', 'gaap are generally the company 2019s best estimates .', 'in addition , the methodologies used for determining life reserve amounts are different between us stat and u.s .', 'gaap .', 'annuity reserving and cash-flow testing for death and living benefit reserves under us stat are generally addressed by the commissioners 2019 annuity reserving valuation methodology and the related actuarial guidelines .', 'under these actuarial guidelines , in general , future cash flows associated with the variable annuity business are included in these methodologies with estimates of future fee revenues , claim payments , expenses , reinsurance impacts and hedging impacts .', 'at december 31 , 2008 , in determining the cash-flow impacts related to future hedging , assumptions were made in the scenarios that generate reserve requirements , about the potential future decreases in the hedge benefits and increases in hedge costs which resulted in increased reserve requirements .', 'reserves for death and living benefits under u.s .', 'gaap are either considered embedded derivatives and recorded at fair value or they may be considered sop 03-1 reserves .', '2022 the difference between the amortized cost and fair value of fixed maturity and other investments , net of tax , is recorded as an increase or decrease to the carrying value of the related asset and to equity under u.s .', 'gaap , while us stat only records certain securities at fair value , such as equity securities and certain lower rated bonds required by the naic to be recorded at the lower of amortized cost or fair value .', 'in the case of the company 2019s market value adjusted ( mva ) fixed annuity products , invested assets are marked to fair value ( including the impact of credit spreads ) and liabilities are marked to fair value ( but generally actual credit spreads are not fully reflected ) for statutory purposes only .', '2022 us stat for life insurance companies establishes a formula reserve for realized and unrealized losses due to default and equity risks associated with certain invested assets ( the asset valuation reserve ) , while u.s .', 'gaap does not .', 'also , for those realized gains and losses caused by changes in interest rates , us stat for life insurance companies defers and amortizes the gains and losses , caused by changes in interest rates , into income over the original life to maturity of the asset sold ( the interest maintenance reserve ) while u.s .', 'gaap does not .', '2022 goodwill arising from the acquisition of a business is tested for recoverability on an annual basis ( or more frequently , as necessary ) for u.s .', 'gaap , while under us stat goodwill is amortized over a period not to exceed 10 years and the .'] | 0.43638 | HIG/2008/page_318.pdf-2 | ['table of contents the table below sets forth statutory surplus for the company 2019s insurance companies .', 'the statutory surplus amounts as of december 31 , 2007 in the table below are based on actual statutory filings with the applicable regulatory authorities .', 'the statutory surplus amounts as of december 31 , 2008 are estimates , as the respective 2008 statutory filings have not yet been the company has received approval from the connecticut insurance department regarding the use of two permitted practices in the statutory financial statements of its connecticut-domiciled life insurance subsidiaries as of december 31 , 2008 .', 'the first permitted practice relates to the statutory accounting for deferred income taxes .', 'specifically , this permitted practice modifies the accounting for deferred income taxes prescribed by the naic by increasing the realization period for deferred tax assets from one year to three years and increasing the asset recognition limit from 10% ( 10 % ) to 15% ( 15 % ) of adjusted statutory capital and surplus .', 'the benefits of this permitted practice may not be considered by the company when determining surplus available for dividends .', 'the second permitted practice relates to the statutory reserving requirements for variable annuities with guaranteed living benefit riders .', 'actuarial guidelines prescribed by the naic require a stand-alone asset adequacy analysis reflecting only benefits , expenses and charges that are associated with the riders for variable annuities with guaranteed living benefits .', 'the permitted practice allows for all benefits , expenses and charges associated with the variable annuity contract to be reflected in the stand- alone asset adequacy test .', 'these permitted practices resulted in an increase to life operations estimated statutory surplus of $ 987 as of december 31 , 2008 .', 'the effects of these permitted practices are included in the 2008 life operations surplus amount in the table above .', 'statutory capital the company 2019s stockholders 2019 equity , as prepared using u.s .', 'gaap was $ 9.3 billion as of december 31 , 2008 .', 'the company 2019s estimated aggregate statutory capital and surplus , as prepared in accordance with the national association of insurance commissioners 2019 accounting practices and procedures manual ( 201cus stat 201d ) was $ 13.8 billion as of december 31 , 2008 .', 'significant differences between u.s .', 'gaap stockholders 2019 equity and aggregate statutory capital and surplus prepared in accordance with us stat include the following: .'] | ['2022 costs incurred by the company to acquire insurance policies are deferred under u.s .', 'gaap while those costs are expensed immediately under us stat .', '2022 temporary differences between the book and tax basis of an asset or liability which are recorded as deferred tax assets are evaluated for recoverability under u.s .', 'gaap while those amounts deferred are subject to limitations under us stat .', '2022 certain assumptions used in the determination of life benefit reserves are prescribed under us stat and are intended to be conservative , while the assumptions used under u.s .', 'gaap are generally the company 2019s best estimates .', 'in addition , the methodologies used for determining life reserve amounts are different between us stat and u.s .', 'gaap .', 'annuity reserving and cash-flow testing for death and living benefit reserves under us stat are generally addressed by the commissioners 2019 annuity reserving valuation methodology and the related actuarial guidelines .', 'under these actuarial guidelines , in general , future cash flows associated with the variable annuity business are included in these methodologies with estimates of future fee revenues , claim payments , expenses , reinsurance impacts and hedging impacts .', 'at december 31 , 2008 , in determining the cash-flow impacts related to future hedging , assumptions were made in the scenarios that generate reserve requirements , about the potential future decreases in the hedge benefits and increases in hedge costs which resulted in increased reserve requirements .', 'reserves for death and living benefits under u.s .', 'gaap are either considered embedded derivatives and recorded at fair value or they may be considered sop 03-1 reserves .', '2022 the difference between the amortized cost and fair value of fixed maturity and other investments , net of tax , is recorded as an increase or decrease to the carrying value of the related asset and to equity under u.s .', 'gaap , while us stat only records certain securities at fair value , such as equity securities and certain lower rated bonds required by the naic to be recorded at the lower of amortized cost or fair value .', 'in the case of the company 2019s market value adjusted ( mva ) fixed annuity products , invested assets are marked to fair value ( including the impact of credit spreads ) and liabilities are marked to fair value ( but generally actual credit spreads are not fully reflected ) for statutory purposes only .', '2022 us stat for life insurance companies establishes a formula reserve for realized and unrealized losses due to default and equity risks associated with certain invested assets ( the asset valuation reserve ) , while u.s .', 'gaap does not .', 'also , for those realized gains and losses caused by changes in interest rates , us stat for life insurance companies defers and amortizes the gains and losses , caused by changes in interest rates , into income over the original life to maturity of the asset sold ( the interest maintenance reserve ) while u.s .', 'gaap does not .', '2022 goodwill arising from the acquisition of a business is tested for recoverability on an annual basis ( or more frequently , as necessary ) for u.s .', 'gaap , while under us stat goodwill is amortized over a period not to exceed 10 years and the .'] | ========================================
| 2008 | 2007
----------|----------|----------
life operations | $ 6047 | $ 5786
japan life operations | 1718 | 1620
property & casualty operations | 6012 | 8509
total | $ 13777 | $ 15915
======================================== | divide(6012, 13777) | 0.43638 |
what is the differnece between the federal and the state net operating loss carryforward? | Context: ['synopsys , inc .', 'notes to consolidated financial statements 2014continued the company has the following tax loss and credit carryforwards available to offset future income tax liabilities : carryforward amount expiration ( in thousands ) .']
########
Tabular Data:
****************************************
carryforward, amount ( in thousands ), expirationdate
federal net operating loss carryforward, $ 57265, 2018-2034
federal research credit carryforward, 78599, 2019-2036
federal foreign tax credit carryforward, 2081, 2019-2022
international foreign tax credit carryforward, 13351, indefinite
california research credit carryforward, 169038, indefinite
other state research credit carryforward, 7482, 2023-2032
state net operating loss carryforward, 33201, 2024-2035
****************************************
########
Additional Information: ['the federal and state net operating loss carryforward is from acquired companies and the annual use of such loss is subject to significant limitations under internal revenue code section 382 .', 'foreign tax credits may only be used to offset tax attributable to foreign source income .', 'the federal research tax credit was permanently reinstated in fiscal 2016 .', 'the company adopted asu 2016-09 in the first quarter of fiscal 2017 .', 'the company recorded all income tax effects of share-based awards in its provision for income taxes in the condensed consolidated statement of operations on a prospective basis .', 'prior to adoption , the company did not recognize excess tax benefits from stock-based compensation as a charge to capital in excess of par value to the extent that the related tax deduction did not reduce income taxes payable .', 'upon adoption of asu 2016-09 , the company recorded a deferred tax asset of $ 106.5 million mainly related to the research tax credit carryover , for the previously unrecognized excess tax benefits with an offsetting adjustment to retained earnings .', 'adoption of the new standard resulted in net excess tax benefits in the provision for income taxes of $ 38.1 million for fiscal 2017 .', 'during the fourth quarter of fiscal 2017 , the company repatriated $ 825 million from its foreign subsidiary .', 'the repatriation was executed in anticipation of potential u.s .', 'corporate tax reform , and the company plans to indefinitely reinvest the remainder of its undistributed foreign earnings outside the united states .', 'the company provides for u.s .', 'income and foreign withholding taxes on foreign earnings , except for foreign earnings that are considered indefinitely reinvested outside the u.s .', 'as of october 31 , 2017 , there were approximately $ 598.3 million of earnings upon which u.s .', 'income taxes of approximately $ 110.0 million have not been provided for. .'] | 24064.0 | SNPS/2017/page_99.pdf-2 | ['synopsys , inc .', 'notes to consolidated financial statements 2014continued the company has the following tax loss and credit carryforwards available to offset future income tax liabilities : carryforward amount expiration ( in thousands ) .'] | ['the federal and state net operating loss carryforward is from acquired companies and the annual use of such loss is subject to significant limitations under internal revenue code section 382 .', 'foreign tax credits may only be used to offset tax attributable to foreign source income .', 'the federal research tax credit was permanently reinstated in fiscal 2016 .', 'the company adopted asu 2016-09 in the first quarter of fiscal 2017 .', 'the company recorded all income tax effects of share-based awards in its provision for income taxes in the condensed consolidated statement of operations on a prospective basis .', 'prior to adoption , the company did not recognize excess tax benefits from stock-based compensation as a charge to capital in excess of par value to the extent that the related tax deduction did not reduce income taxes payable .', 'upon adoption of asu 2016-09 , the company recorded a deferred tax asset of $ 106.5 million mainly related to the research tax credit carryover , for the previously unrecognized excess tax benefits with an offsetting adjustment to retained earnings .', 'adoption of the new standard resulted in net excess tax benefits in the provision for income taxes of $ 38.1 million for fiscal 2017 .', 'during the fourth quarter of fiscal 2017 , the company repatriated $ 825 million from its foreign subsidiary .', 'the repatriation was executed in anticipation of potential u.s .', 'corporate tax reform , and the company plans to indefinitely reinvest the remainder of its undistributed foreign earnings outside the united states .', 'the company provides for u.s .', 'income and foreign withholding taxes on foreign earnings , except for foreign earnings that are considered indefinitely reinvested outside the u.s .', 'as of october 31 , 2017 , there were approximately $ 598.3 million of earnings upon which u.s .', 'income taxes of approximately $ 110.0 million have not been provided for. .'] | ****************************************
carryforward, amount ( in thousands ), expirationdate
federal net operating loss carryforward, $ 57265, 2018-2034
federal research credit carryforward, 78599, 2019-2036
federal foreign tax credit carryforward, 2081, 2019-2022
international foreign tax credit carryforward, 13351, indefinite
california research credit carryforward, 169038, indefinite
other state research credit carryforward, 7482, 2023-2032
state net operating loss carryforward, 33201, 2024-2035
**************************************** | subtract(57265, 33201) | 24064.0 |
what is the average expected dividend yield during 2008-2010? | Background: ['mastercard incorporated notes to consolidated financial statements 2014continued in september 2010 , the company 2019s board of directors authorized a plan for the company to repurchase up to $ 1 billion of its class a common stock in open market transactions .', 'the company did not repurchase any shares under this plan during 2010 .', 'as of february 16 , 2011 , the company had completed the repurchase of approximately 0.3 million shares of its class a common stock at a cost of approximately $ 75 million .', 'note 18 .', 'share based payment and other benefits in may 2006 , the company implemented the mastercard incorporated 2006 long-term incentive plan , which was amended and restated as of october 13 , 2008 ( the 201cltip 201d ) .', 'the ltip is a shareholder-approved omnibus plan that permits the grant of various types of equity awards to employees .', 'the company has granted restricted stock units ( 201crsus 201d ) , non-qualified stock options ( 201coptions 201d ) and performance stock units ( 201cpsus 201d ) under the ltip .', 'the rsus generally vest after three to four years .', 'the options , which expire ten years from the date of grant , generally vest ratably over four years from the date of grant .', 'the psus generally vest after three years .', 'additionally , the company made a one-time grant to all non-executive management employees upon the ipo for a total of approximately 440 thousand rsus ( the 201cfounders 2019 grant 201d ) .', 'the founders 2019 grant rsus vested three years from the date of grant .', 'the company uses the straight-line method of attribution for expensing equity awards .', 'compensation expense is recorded net of estimated forfeitures .', 'estimates are adjusted as appropriate .', 'upon termination of employment , excluding retirement , all of a participant 2019s unvested awards are forfeited .', 'however , when a participant terminates employment due to retirement , the participant generally retains all of their awards without providing additional service to the company .', 'eligible retirement is dependent upon age and years of service , as follows : age 55 with ten years of service , age 60 with five years of service and age 65 with two years of service .', 'compensation expense is recognized over the shorter of the vesting periods stated in the ltip , or the date the individual becomes eligible to retire .', 'there are 11550000 shares of class a common stock reserved for equity awards under the ltip .', 'although the ltip permits the issuance of shares of class b common stock , no such shares have been reserved for issuance .', 'shares issued as a result of option exercises and the conversions of rsus and psus are expected to be funded primarily with the issuance of new shares of class a common stock .', 'stock options the fair value of each option is estimated on the date of grant using a black-scholes option pricing model .', 'the following table presents the weighted-average assumptions used in the valuation and the resulting weighted- average fair value per option granted for the years ended december 31: .']
##
Table:
----------------------------------------
• , 2010, 2009, 2008
• risk-free rate of return, 2.7% ( 2.7 % ), 2.5% ( 2.5 % ), 3.2% ( 3.2 % )
• expected term ( in years ), 6.25, 6.17, 6.25
• expected volatility, 32.7% ( 32.7 % ), 41.7% ( 41.7 % ), 37.9% ( 37.9 % )
• expected dividend yield, 0.3% ( 0.3 % ), 0.4% ( 0.4 % ), 0.3% ( 0.3 % )
• weighted-average fair value per option granted, $ 84.62, $ 71.03, $ 78.54
----------------------------------------
##
Additional Information: ['the risk-free rate of return was based on the u.s .', 'treasury yield curve in effect on the date of grant .', 'the company utilizes the simplified method for calculating the expected term of the option based on the vesting terms and the contractual life of the option .', 'the expected volatility for options granted during 2010 and 2009 was based on the average of the implied volatility of mastercard and a blend of the historical volatility of mastercard and the historical volatility of a group of companies that management believes is generally comparable to .'] | 0.00333 | MA/2010/page_125.pdf-2 | ['mastercard incorporated notes to consolidated financial statements 2014continued in september 2010 , the company 2019s board of directors authorized a plan for the company to repurchase up to $ 1 billion of its class a common stock in open market transactions .', 'the company did not repurchase any shares under this plan during 2010 .', 'as of february 16 , 2011 , the company had completed the repurchase of approximately 0.3 million shares of its class a common stock at a cost of approximately $ 75 million .', 'note 18 .', 'share based payment and other benefits in may 2006 , the company implemented the mastercard incorporated 2006 long-term incentive plan , which was amended and restated as of october 13 , 2008 ( the 201cltip 201d ) .', 'the ltip is a shareholder-approved omnibus plan that permits the grant of various types of equity awards to employees .', 'the company has granted restricted stock units ( 201crsus 201d ) , non-qualified stock options ( 201coptions 201d ) and performance stock units ( 201cpsus 201d ) under the ltip .', 'the rsus generally vest after three to four years .', 'the options , which expire ten years from the date of grant , generally vest ratably over four years from the date of grant .', 'the psus generally vest after three years .', 'additionally , the company made a one-time grant to all non-executive management employees upon the ipo for a total of approximately 440 thousand rsus ( the 201cfounders 2019 grant 201d ) .', 'the founders 2019 grant rsus vested three years from the date of grant .', 'the company uses the straight-line method of attribution for expensing equity awards .', 'compensation expense is recorded net of estimated forfeitures .', 'estimates are adjusted as appropriate .', 'upon termination of employment , excluding retirement , all of a participant 2019s unvested awards are forfeited .', 'however , when a participant terminates employment due to retirement , the participant generally retains all of their awards without providing additional service to the company .', 'eligible retirement is dependent upon age and years of service , as follows : age 55 with ten years of service , age 60 with five years of service and age 65 with two years of service .', 'compensation expense is recognized over the shorter of the vesting periods stated in the ltip , or the date the individual becomes eligible to retire .', 'there are 11550000 shares of class a common stock reserved for equity awards under the ltip .', 'although the ltip permits the issuance of shares of class b common stock , no such shares have been reserved for issuance .', 'shares issued as a result of option exercises and the conversions of rsus and psus are expected to be funded primarily with the issuance of new shares of class a common stock .', 'stock options the fair value of each option is estimated on the date of grant using a black-scholes option pricing model .', 'the following table presents the weighted-average assumptions used in the valuation and the resulting weighted- average fair value per option granted for the years ended december 31: .'] | ['the risk-free rate of return was based on the u.s .', 'treasury yield curve in effect on the date of grant .', 'the company utilizes the simplified method for calculating the expected term of the option based on the vesting terms and the contractual life of the option .', 'the expected volatility for options granted during 2010 and 2009 was based on the average of the implied volatility of mastercard and a blend of the historical volatility of mastercard and the historical volatility of a group of companies that management believes is generally comparable to .'] | ----------------------------------------
• , 2010, 2009, 2008
• risk-free rate of return, 2.7% ( 2.7 % ), 2.5% ( 2.5 % ), 3.2% ( 3.2 % )
• expected term ( in years ), 6.25, 6.17, 6.25
• expected volatility, 32.7% ( 32.7 % ), 41.7% ( 41.7 % ), 37.9% ( 37.9 % )
• expected dividend yield, 0.3% ( 0.3 % ), 0.4% ( 0.4 % ), 0.3% ( 0.3 % )
• weighted-average fair value per option granted, $ 84.62, $ 71.03, $ 78.54
---------------------------------------- | table_average(expected dividend yield, none) | 0.00333 |
what portion of the company's debt is due in the next 12 months? | Pre-text: ['2022 designate subsidiaries as unrestricted subsidiaries ; and 2022 sell certain assets or merge with or into other companies .', 'subject to certain exceptions , the indentures governing the senior subordinated notes and the senior discount notes permit the issuers of the notes and their restricted subsidiaries to incur additional indebtedness , including secured indebtedness .', 'in addition , the senior credit facilities require bcp crystal to maintain the following financial covenants : a maximum total leverage ratio , a maximum bank debt leverage ratio , a minimum interest coverage ratio and maximum capital expenditures limitation .', 'the maximum consolidated net bank debt to adjusted ebitda ratio , as defined , previously required under the senior credit facilities , was eliminated when the company amended the facilities in january 2005 .', 'as of december 31 , 2006 , the company was in compliance with all of the financial covenants related to its debt agreements .', 'principal payments scheduled to be made on the company 2019s debt , including short term borrowings , is as follows : ( in $ millions ) .']
Data Table:
----------------------------------------
| total ( in $ millions )
----------|----------
2007 | 309
2008 | 25
2009 | 50
2010 | 39
2011 | 1485
thereafter ( 1 ) | 1590
total | 3498
----------------------------------------
Additional Information: ['( 1 ) includes $ 2 million purchase accounting adjustment to assumed debt .', '17 .', 'benefit obligations pension obligations .', 'pension obligations are established for benefits payable in the form of retirement , disability and surviving dependent pensions .', 'the benefits offered vary according to the legal , fiscal and economic conditions of each country .', 'the commitments result from participation in defined contribution and defined benefit plans , primarily in the u.s .', 'benefits are dependent on years of service and the employee 2019s compensation .', 'supplemental retirement benefits provided to certain employees are non-qualified for u.s .', 'tax purposes .', 'separate trusts have been established for some non-qualified plans .', 'the company sponsors defined benefit pension plans in north america , europe and asia .', 'as of december 31 , 2006 , the company 2019s u.s .', 'qualified pension plan represented greater than 84% ( 84 % ) and 76% ( 76 % ) of celanese 2019s pension plan assets and liabilities , respectively .', 'independent trusts or insurance companies administer the majority of these plans .', 'pension costs under the company 2019s retirement plans are actuarially determined .', 'the company sponsors various defined contribution plans in north america , europe , and asia covering certain employees .', 'employees may contribute to these plans and the company will match these contributions in varying amounts .', 'the company 2019s matching contribution to the defined contribution plans are based on specified percentages of employee contributions and aggregated $ 11 million , $ 12 million , $ 8 million and $ 3 million for the years ended december 31 , 2006 and 2005 , the nine months ended december 31 , 2004 and the three months ended march 31 , 2004 , respectively .', 'celanese corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) .'] | 0.08834 | CE/2006/page_124.pdf-3 | ['2022 designate subsidiaries as unrestricted subsidiaries ; and 2022 sell certain assets or merge with or into other companies .', 'subject to certain exceptions , the indentures governing the senior subordinated notes and the senior discount notes permit the issuers of the notes and their restricted subsidiaries to incur additional indebtedness , including secured indebtedness .', 'in addition , the senior credit facilities require bcp crystal to maintain the following financial covenants : a maximum total leverage ratio , a maximum bank debt leverage ratio , a minimum interest coverage ratio and maximum capital expenditures limitation .', 'the maximum consolidated net bank debt to adjusted ebitda ratio , as defined , previously required under the senior credit facilities , was eliminated when the company amended the facilities in january 2005 .', 'as of december 31 , 2006 , the company was in compliance with all of the financial covenants related to its debt agreements .', 'principal payments scheduled to be made on the company 2019s debt , including short term borrowings , is as follows : ( in $ millions ) .'] | ['( 1 ) includes $ 2 million purchase accounting adjustment to assumed debt .', '17 .', 'benefit obligations pension obligations .', 'pension obligations are established for benefits payable in the form of retirement , disability and surviving dependent pensions .', 'the benefits offered vary according to the legal , fiscal and economic conditions of each country .', 'the commitments result from participation in defined contribution and defined benefit plans , primarily in the u.s .', 'benefits are dependent on years of service and the employee 2019s compensation .', 'supplemental retirement benefits provided to certain employees are non-qualified for u.s .', 'tax purposes .', 'separate trusts have been established for some non-qualified plans .', 'the company sponsors defined benefit pension plans in north america , europe and asia .', 'as of december 31 , 2006 , the company 2019s u.s .', 'qualified pension plan represented greater than 84% ( 84 % ) and 76% ( 76 % ) of celanese 2019s pension plan assets and liabilities , respectively .', 'independent trusts or insurance companies administer the majority of these plans .', 'pension costs under the company 2019s retirement plans are actuarially determined .', 'the company sponsors various defined contribution plans in north america , europe , and asia covering certain employees .', 'employees may contribute to these plans and the company will match these contributions in varying amounts .', 'the company 2019s matching contribution to the defined contribution plans are based on specified percentages of employee contributions and aggregated $ 11 million , $ 12 million , $ 8 million and $ 3 million for the years ended december 31 , 2006 and 2005 , the nine months ended december 31 , 2004 and the three months ended march 31 , 2004 , respectively .', 'celanese corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) .'] | ----------------------------------------
| total ( in $ millions )
----------|----------
2007 | 309
2008 | 25
2009 | 50
2010 | 39
2011 | 1485
thereafter ( 1 ) | 1590
total | 3498
---------------------------------------- | divide(309, 3498) | 0.08834 |
what was the percent of the return on the e*trade financial corporation common stock from 2009 to 2014 | Context: ['the following performance graph shows the cumulative total return to a holder of the company 2019s common stock , assuming dividend reinvestment , compared with the cumulative total return , assuming dividend reinvestment , of the standard & poor ( "s&p" ) 500 index and the dow jones us financials index during the period from december 31 , 2009 through december 31 , 2014. .']
Data Table:
========================================
, 12/09, 12/10, 12/11, 12/12, 12/13, 12/14
e*trade financial corporation, 100.00, 90.91, 45.23, 50.85, 111.59, 137.81
s&p 500 index, 100.00, 115.06, 117.49, 136.30, 180.44, 205.14
dow jones us financials index, 100.00, 112.72, 98.24, 124.62, 167.26, 191.67
========================================
Follow-up: ['table of contents .'] | 0.3781 | ETFC/2014/page_26.pdf-1 | ['the following performance graph shows the cumulative total return to a holder of the company 2019s common stock , assuming dividend reinvestment , compared with the cumulative total return , assuming dividend reinvestment , of the standard & poor ( "s&p" ) 500 index and the dow jones us financials index during the period from december 31 , 2009 through december 31 , 2014. .'] | ['table of contents .'] | ========================================
, 12/09, 12/10, 12/11, 12/12, 12/13, 12/14
e*trade financial corporation, 100.00, 90.91, 45.23, 50.85, 111.59, 137.81
s&p 500 index, 100.00, 115.06, 117.49, 136.30, 180.44, 205.14
dow jones us financials index, 100.00, 112.72, 98.24, 124.62, 167.26, 191.67
======================================== | subtract(137.81, const_100), divide(#0, const_100) | 0.3781 |
what is the percentage difference in future minimum rental commitments as of december 31 , 2013 between 2015 and 2016? | Background: ['morgan stanley notes to consolidated financial statements 2014 ( continued ) lending commitments .', 'primary lending commitments are those that are originated by the company whereas secondary lending commitments are purchased from third parties in the market .', 'the commitments include lending commitments that are made to investment grade and non-investment grade companies in connection with corporate lending and other business activities .', 'commitments for secured lending transactions .', 'secured lending commitments are extended by the company to companies and are secured by real estate or other physical assets of the borrower .', 'loans made under these arrangements typically are at variable rates and generally provide for over-collateralization based upon the creditworthiness of the borrower .', 'forward starting reverse repurchase agreements .', 'the company has entered into forward starting securities purchased under agreements to resell ( agreements that have a trade date at or prior to december 31 , 2013 and settle subsequent to period-end ) that are primarily secured by collateral from u.s .', 'government agency securities and other sovereign government obligations .', 'commercial and residential mortgage-related commitments .', 'the company enters into forward purchase contracts involving residential mortgage loans , residential mortgage lending commitments to individuals and residential home equity lines of credit .', 'in addition , the company enters into commitments to originate commercial and residential mortgage loans .', 'underwriting commitments .', 'the company provides underwriting commitments in connection with its capital raising sources to a diverse group of corporate and other institutional clients .', 'other lending commitments .', 'other commitments generally include commercial lending commitments to small businesses and commitments related to securities-based lending activities in connection with the company 2019s wealth management business segment .', 'the company sponsors several non-consolidated investment funds for third-party investors where the company typically acts as general partner of , and investment advisor to , these funds and typically commits to invest a minority of the capital of such funds , with subscribing third-party investors contributing the majority .', 'the company 2019s employees , including its senior officers , as well as the company 2019s directors , may participate on the same terms and conditions as other investors in certain of these funds that the company forms primarily for client investment , except that the company may waive or lower applicable fees and charges for its employees .', 'the company has contractual capital commitments , guarantees , lending facilities and counterparty arrangements with respect to these investment funds .', 'premises and equipment .', 'the company has non-cancelable operating leases covering premises and equipment ( excluding commodities operating leases , shown separately ) .', 'at december 31 , 2013 , future minimum rental commitments under such leases ( net of subleases , principally on office rentals ) were as follows ( dollars in millions ) : year ended operating premises leases .']
--
Tabular Data:
year ended | operating premises leases
----------|----------
2014 | $ 672
2015 | 656
2016 | 621
2017 | 554
2018 | 481
thereafter | 2712
--
Post-table: ['.'] | -0.05335 | MS/2013/page_240.pdf-3 | ['morgan stanley notes to consolidated financial statements 2014 ( continued ) lending commitments .', 'primary lending commitments are those that are originated by the company whereas secondary lending commitments are purchased from third parties in the market .', 'the commitments include lending commitments that are made to investment grade and non-investment grade companies in connection with corporate lending and other business activities .', 'commitments for secured lending transactions .', 'secured lending commitments are extended by the company to companies and are secured by real estate or other physical assets of the borrower .', 'loans made under these arrangements typically are at variable rates and generally provide for over-collateralization based upon the creditworthiness of the borrower .', 'forward starting reverse repurchase agreements .', 'the company has entered into forward starting securities purchased under agreements to resell ( agreements that have a trade date at or prior to december 31 , 2013 and settle subsequent to period-end ) that are primarily secured by collateral from u.s .', 'government agency securities and other sovereign government obligations .', 'commercial and residential mortgage-related commitments .', 'the company enters into forward purchase contracts involving residential mortgage loans , residential mortgage lending commitments to individuals and residential home equity lines of credit .', 'in addition , the company enters into commitments to originate commercial and residential mortgage loans .', 'underwriting commitments .', 'the company provides underwriting commitments in connection with its capital raising sources to a diverse group of corporate and other institutional clients .', 'other lending commitments .', 'other commitments generally include commercial lending commitments to small businesses and commitments related to securities-based lending activities in connection with the company 2019s wealth management business segment .', 'the company sponsors several non-consolidated investment funds for third-party investors where the company typically acts as general partner of , and investment advisor to , these funds and typically commits to invest a minority of the capital of such funds , with subscribing third-party investors contributing the majority .', 'the company 2019s employees , including its senior officers , as well as the company 2019s directors , may participate on the same terms and conditions as other investors in certain of these funds that the company forms primarily for client investment , except that the company may waive or lower applicable fees and charges for its employees .', 'the company has contractual capital commitments , guarantees , lending facilities and counterparty arrangements with respect to these investment funds .', 'premises and equipment .', 'the company has non-cancelable operating leases covering premises and equipment ( excluding commodities operating leases , shown separately ) .', 'at december 31 , 2013 , future minimum rental commitments under such leases ( net of subleases , principally on office rentals ) were as follows ( dollars in millions ) : year ended operating premises leases .'] | ['.'] | year ended | operating premises leases
----------|----------
2014 | $ 672
2015 | 656
2016 | 621
2017 | 554
2018 | 481
thereafter | 2712 | subtract(621, 656), divide(#0, 656) | -0.05335 |
as of december 30 , 2017 what was the percent of the operating lease obligations to the total | Context: ['contractual obligations significant contractual obligations as of december 30 , 2017 were as follows: .']
##
Tabular Data:
========================================
Row 1: ( in millions ), payments due by period total, payments due by period less than1 year, payments due by period 1 20133 years, payments due by period 3 20135 years, payments due by period more than5 years
Row 2: operating lease obligations, $ 1245, $ 215, $ 348, $ 241, $ 441
Row 3: capital purchase obligations1, 12068, 9689, 2266, 113, 2014
Row 4: other purchase obligations and commitments2, 2692, 1577, 1040, 55, 20
Row 5: tax obligations3, 6120, 490, 979, 979, 3672
Row 6: long-term debt obligations4, 42278, 1495, 5377, 8489, 26917
Row 7: other long-term liabilities5, 1544, 799, 422, 190, 133
Row 8: total6, $ 65947, $ 14265, $ 10432, $ 10067, $ 31183
========================================
##
Additional Information: ['capital purchase obligations1 12068 9689 2266 113 2014 other purchase obligations and commitments2 2692 1577 1040 55 20 tax obligations3 6120 490 979 979 3672 long-term debt obligations4 42278 1495 5377 8489 26917 other long-term liabilities5 1544 799 422 190 133 total6 $ 65947 $ 14265 $ 10432 $ 10067 $ 31183 1 capital purchase obligations represent commitments for the construction or purchase of property , plant and equipment .', 'they were not recorded as liabilities on our consolidated balance sheets as of december 30 , 2017 , as we had not yet received the related goods nor taken title to the property .', '2 other purchase obligations and commitments include payments due under various types of licenses and agreements to purchase goods or services , as well as payments due under non-contingent funding obligations .', '3 tax obligations represent the future cash payments related to tax reform enacted in 2017 for the one-time provisional transition tax on our previously untaxed foreign earnings .', 'for further information , see 201cnote 8 : income taxes 201d within the consolidated financial statements .', '4 amounts represent principal and interest cash payments over the life of the debt obligations , including anticipated interest payments that are not recorded on our consolidated balance sheets .', 'debt obligations are classified based on their stated maturity date , regardless of their classification on the consolidated balance sheets .', 'any future settlement of convertible debt would impact our cash payments .', '5 amounts represent future cash payments to satisfy other long-term liabilities recorded on our consolidated balance sheets , including the short-term portion of these long-term liabilities .', 'derivative instruments are excluded from the preceding table , as they do not represent the amounts that may ultimately be paid .', '6 total excludes contractual obligations already recorded on our consolidated balance sheets as current liabilities , except for the short-term portions of long-term debt obligations and other long-term liabilities .', 'the expected timing of payments of the obligations in the preceding table is estimated based on current information .', 'timing of payments and actual amounts paid may be different , depending on the time of receipt of goods or services , or changes to agreed- upon amounts for some obligations .', 'contractual obligations for purchases of goods or services included in 201cother purchase obligations and commitments 201d in the preceding table include agreements that are enforceable and legally binding on intel and that specify all significant terms , including fixed or minimum quantities to be purchased ; fixed , minimum , or variable price provisions ; and the approximate timing of the transaction .', 'for obligations with cancellation provisions , the amounts included in the preceding table were limited to the non-cancelable portion of the agreement terms or the minimum cancellation fee .', 'for the purchase of raw materials , we have entered into certain agreements that specify minimum prices and quantities based on a percentage of the total available market or based on a percentage of our future purchasing requirements .', 'due to the uncertainty of the future market and our future purchasing requirements , as well as the non-binding nature of these agreements , obligations under these agreements have been excluded from the preceding table .', 'our purchase orders for other products are based on our current manufacturing needs and are fulfilled by our vendors within short time horizons .', 'in addition , some of our purchase orders represent authorizations to purchase rather than binding agreements .', 'contractual obligations that are contingent upon the achievement of certain milestones have been excluded from the preceding table .', 'most of our milestone-based contracts are tooling related for the purchase of capital equipment .', 'these arrangements are not considered contractual obligations until the milestone is met by the counterparty .', 'as of december 30 , 2017 , assuming that all future milestones are met , the additional required payments would be approximately $ 2.0 billion .', 'for the majority of restricted stock units ( rsus ) granted , the number of shares of common stock issued on the date the rsus vest is net of the minimum statutory withholding requirements that we pay in cash to the appropriate taxing authorities on behalf of our employees .', 'the obligation to pay the relevant taxing authority is excluded from the preceding table , as the amount is contingent upon continued employment .', 'in addition , the amount of the obligation is unknown , as it is based in part on the market price of our common stock when the awards vest .', 'md&a - results of operations consolidated results and analysis 38 .'] | 0.01888 | INTC/2017/page_46.pdf-4 | ['contractual obligations significant contractual obligations as of december 30 , 2017 were as follows: .'] | ['capital purchase obligations1 12068 9689 2266 113 2014 other purchase obligations and commitments2 2692 1577 1040 55 20 tax obligations3 6120 490 979 979 3672 long-term debt obligations4 42278 1495 5377 8489 26917 other long-term liabilities5 1544 799 422 190 133 total6 $ 65947 $ 14265 $ 10432 $ 10067 $ 31183 1 capital purchase obligations represent commitments for the construction or purchase of property , plant and equipment .', 'they were not recorded as liabilities on our consolidated balance sheets as of december 30 , 2017 , as we had not yet received the related goods nor taken title to the property .', '2 other purchase obligations and commitments include payments due under various types of licenses and agreements to purchase goods or services , as well as payments due under non-contingent funding obligations .', '3 tax obligations represent the future cash payments related to tax reform enacted in 2017 for the one-time provisional transition tax on our previously untaxed foreign earnings .', 'for further information , see 201cnote 8 : income taxes 201d within the consolidated financial statements .', '4 amounts represent principal and interest cash payments over the life of the debt obligations , including anticipated interest payments that are not recorded on our consolidated balance sheets .', 'debt obligations are classified based on their stated maturity date , regardless of their classification on the consolidated balance sheets .', 'any future settlement of convertible debt would impact our cash payments .', '5 amounts represent future cash payments to satisfy other long-term liabilities recorded on our consolidated balance sheets , including the short-term portion of these long-term liabilities .', 'derivative instruments are excluded from the preceding table , as they do not represent the amounts that may ultimately be paid .', '6 total excludes contractual obligations already recorded on our consolidated balance sheets as current liabilities , except for the short-term portions of long-term debt obligations and other long-term liabilities .', 'the expected timing of payments of the obligations in the preceding table is estimated based on current information .', 'timing of payments and actual amounts paid may be different , depending on the time of receipt of goods or services , or changes to agreed- upon amounts for some obligations .', 'contractual obligations for purchases of goods or services included in 201cother purchase obligations and commitments 201d in the preceding table include agreements that are enforceable and legally binding on intel and that specify all significant terms , including fixed or minimum quantities to be purchased ; fixed , minimum , or variable price provisions ; and the approximate timing of the transaction .', 'for obligations with cancellation provisions , the amounts included in the preceding table were limited to the non-cancelable portion of the agreement terms or the minimum cancellation fee .', 'for the purchase of raw materials , we have entered into certain agreements that specify minimum prices and quantities based on a percentage of the total available market or based on a percentage of our future purchasing requirements .', 'due to the uncertainty of the future market and our future purchasing requirements , as well as the non-binding nature of these agreements , obligations under these agreements have been excluded from the preceding table .', 'our purchase orders for other products are based on our current manufacturing needs and are fulfilled by our vendors within short time horizons .', 'in addition , some of our purchase orders represent authorizations to purchase rather than binding agreements .', 'contractual obligations that are contingent upon the achievement of certain milestones have been excluded from the preceding table .', 'most of our milestone-based contracts are tooling related for the purchase of capital equipment .', 'these arrangements are not considered contractual obligations until the milestone is met by the counterparty .', 'as of december 30 , 2017 , assuming that all future milestones are met , the additional required payments would be approximately $ 2.0 billion .', 'for the majority of restricted stock units ( rsus ) granted , the number of shares of common stock issued on the date the rsus vest is net of the minimum statutory withholding requirements that we pay in cash to the appropriate taxing authorities on behalf of our employees .', 'the obligation to pay the relevant taxing authority is excluded from the preceding table , as the amount is contingent upon continued employment .', 'in addition , the amount of the obligation is unknown , as it is based in part on the market price of our common stock when the awards vest .', 'md&a - results of operations consolidated results and analysis 38 .'] | ========================================
Row 1: ( in millions ), payments due by period total, payments due by period less than1 year, payments due by period 1 20133 years, payments due by period 3 20135 years, payments due by period more than5 years
Row 2: operating lease obligations, $ 1245, $ 215, $ 348, $ 241, $ 441
Row 3: capital purchase obligations1, 12068, 9689, 2266, 113, 2014
Row 4: other purchase obligations and commitments2, 2692, 1577, 1040, 55, 20
Row 5: tax obligations3, 6120, 490, 979, 979, 3672
Row 6: long-term debt obligations4, 42278, 1495, 5377, 8489, 26917
Row 7: other long-term liabilities5, 1544, 799, 422, 190, 133
Row 8: total6, $ 65947, $ 14265, $ 10432, $ 10067, $ 31183
======================================== | divide(1245, 65947) | 0.01888 |
what was the percentage change in the pre-tax catastrophe losses from 2015 to 2016 | Background: ['risks relating to our business fluctuations in the financial markets could result in investment losses .', 'prolonged and severe disruptions in the overall public debt and equity markets , such as occurred during 2008 , could result in significant realized and unrealized losses in our investment portfolio .', 'although financial markets have significantly improved since 2008 , they could deteriorate in the future .', 'there could also be disruption in individual market sectors , such as occurred in the energy sector in recent years .', 'such declines in the financial markets could result in significant realized and unrealized losses on investments and could have a material adverse impact on our results of operations , equity , business and insurer financial strength and debt ratings .', 'our results could be adversely affected by catastrophic events .', 'we are exposed to unpredictable catastrophic events , including weather-related and other natural catastrophes , as well as acts of terrorism .', 'any material reduction in our operating results caused by the occurrence of one or more catastrophes could inhibit our ability to pay dividends or to meet our interest and principal payment obligations .', 'by way of illustration , during the past five calendar years , pre-tax catastrophe losses , net of contract specific reinsurance but before cessions under corporate reinsurance programs , were as follows: .']
####
Data Table:
• calendar year:, pre-tax catastrophe losses
• ( dollars in millions ),
• 2016, $ 301.2
• 2015, 53.8
• 2014, 56.3
• 2013, 194.0
• 2012, 410.0
####
Follow-up: ['our losses from future catastrophic events could exceed our projections .', 'we use projections of possible losses from future catastrophic events of varying types and magnitudes as a strategic underwriting tool .', 'we use these loss projections to estimate our potential catastrophe losses in certain geographic areas and decide on the placement of retrocessional coverage or other actions to limit the extent of potential losses in a given geographic area .', 'these loss projections are approximations , reliant on a mix of quantitative and qualitative processes , and actual losses may exceed the projections by a material amount , resulting in a material adverse effect on our financial condition and results of operations. .'] | 4.59851 | RE/2016/page_40.pdf-4 | ['risks relating to our business fluctuations in the financial markets could result in investment losses .', 'prolonged and severe disruptions in the overall public debt and equity markets , such as occurred during 2008 , could result in significant realized and unrealized losses in our investment portfolio .', 'although financial markets have significantly improved since 2008 , they could deteriorate in the future .', 'there could also be disruption in individual market sectors , such as occurred in the energy sector in recent years .', 'such declines in the financial markets could result in significant realized and unrealized losses on investments and could have a material adverse impact on our results of operations , equity , business and insurer financial strength and debt ratings .', 'our results could be adversely affected by catastrophic events .', 'we are exposed to unpredictable catastrophic events , including weather-related and other natural catastrophes , as well as acts of terrorism .', 'any material reduction in our operating results caused by the occurrence of one or more catastrophes could inhibit our ability to pay dividends or to meet our interest and principal payment obligations .', 'by way of illustration , during the past five calendar years , pre-tax catastrophe losses , net of contract specific reinsurance but before cessions under corporate reinsurance programs , were as follows: .'] | ['our losses from future catastrophic events could exceed our projections .', 'we use projections of possible losses from future catastrophic events of varying types and magnitudes as a strategic underwriting tool .', 'we use these loss projections to estimate our potential catastrophe losses in certain geographic areas and decide on the placement of retrocessional coverage or other actions to limit the extent of potential losses in a given geographic area .', 'these loss projections are approximations , reliant on a mix of quantitative and qualitative processes , and actual losses may exceed the projections by a material amount , resulting in a material adverse effect on our financial condition and results of operations. .'] | • calendar year:, pre-tax catastrophe losses
• ( dollars in millions ),
• 2016, $ 301.2
• 2015, 53.8
• 2014, 56.3
• 2013, 194.0
• 2012, 410.0 | subtract(301.2, 53.8), divide(#0, 53.8) | 4.59851 |
what was the total intrinsic value of incentive/performance unit and restricted share/ restricted share unit awards vested during 2016 , 2015 and 2014 in billions? | Pre-text: ['at december 31 , 2015 and 2014 , options for 5 million and 6 million shares of common stock were exercisable at a weighted-average price of $ 55.42 and $ 56.21 , respectively .', 'the total intrinsic value of options exercised was approximately $ .1 billion during 2016 , 2015 and 2014 .', 'cash received from option exercises under all incentive plans for 2016 , 2015 and 2014 was approximately $ .1 billion , $ .1 billion and $ .2 billion , respectively .', 'the tax benefit realized from option exercises under all incentive plans was insignificant for 2016 , 2015 and 2014 .', 'shares of common stock available during the next year for the granting of options and other awards under the incentive plans were approximately 39 million shares at december 31 , 2016 .', 'total shares of pnc common stock authorized for future issuance under all equity compensation plans totaled approximately 40 million shares at december 31 , 2016 .', 'during 2016 , we issued approximately 2 million common shares from treasury stock in connection with stock option exercise activity .', 'as with past exercise activity , we currently intend to utilize primarily treasury stock for any future stock option exercises .', 'incentive/performance unit awards and restricted share/restricted share unit awards the fair value of nonvested incentive/performance unit awards and restricted share/restricted share unit awards is initially determined based on prices not less than the market value of our common stock on the date of grant with a reduction for estimated forfeitures .', 'the value of certain incentive/ performance unit awards is subsequently remeasured based on the achievement of one or more financial and other performance goals .', 'additionally , certain incentive/ performance unit awards require subsequent adjustment to their current market value due to certain discretionary risk review triggers .', 'the weighted-average grant date fair value of incentive/ performance unit awards and restricted share/restricted share unit awards granted in 2016 , 2015 and 2014 was $ 78.37 , $ 91.57 and $ 80.79 per share , respectively .', 'the total intrinsic value of incentive/performance unit and restricted share/ restricted share unit awards vested during 2016 , 2015 and 2014 was approximately $ .1 billion , $ .2 billion and $ .1 billion , respectively .', 'we recognize compensation expense for such awards ratably over the corresponding vesting and/or performance periods for each type of program .', 'table 78 : nonvested incentive/performance unit awards and restricted share/restricted share unit awards 2013 rollforward ( a ) shares in millions nonvested incentive/ performance units shares weighted- average date fair nonvested restricted share/ restricted weighted- average grant date fair value .']
##
Tabular Data:
****************************************
• shares in millions december 31 2015, nonvested incentive/ performance units shares 2, weighted- average grant date fair value $ 79.27, nonvested restricted share/ restricted share units 3, weighted- average grant date fair value $ 79.26
• granted ( b ), 1, $ 77.77, 1, $ 78.71
• vested/released ( b ), -1 ( 1 ), $ 71.59, -1 ( 1 ), $ 65.53
• december 31 2016, 2, $ 81.42, 3, $ 83.27
****************************************
##
Post-table: ['( a ) forfeited awards during 2016 were insignificant .', '( b ) includes adjustments for achieving specific performance goals for incentive/ performance unit share awards granted in prior periods .', 'in table 78 , the units and related weighted-average grant date fair value of the incentive/performance unit share awards exclude the effect of dividends on the underlying shares , as those dividends will be paid in cash if and when the underlying shares are issued to the participants .', 'blackrock long-term incentive plans ( ltip ) blackrock adopted the 2002 ltip program to help attract and retain qualified professionals .', 'at that time , we agreed to transfer up to four million shares of blackrock common stock to fund a portion of the 2002 ltip program and future ltip programs approved by blackrock 2019s board of directors .', 'in 2009 , our obligation to deliver any remaining blackrock common shares was replaced with an obligation to deliver shares of blackrock 2019s series c preferred stock held by us .', 'in 2016 , we transferred .5 million shares of blackrock series c preferred stock to blackrock in connection with our obligation .', 'at december 31 , 2016 , we held approximately .8 million shares of blackrock series c preferred stock which were available to fund our obligations .', 'see note 23 subsequent events for information on our february 1 , 2017 transfer of .5 million shares of the series c preferred stock to blackrock to satisfy a portion of our ltip obligation .', 'we account for our blackrock series c preferred stock at fair value , which offsets the impact of marking-to-market the obligation to deliver these shares to blackrock .', 'see note 6 fair value for additional information regarding the valuation of the blackrock series c preferred stock .', 'the pnc financial services group , inc .', '2013 form 10-k 139 .'] | 0.4 | PNC/2016/page_155.pdf-1 | ['at december 31 , 2015 and 2014 , options for 5 million and 6 million shares of common stock were exercisable at a weighted-average price of $ 55.42 and $ 56.21 , respectively .', 'the total intrinsic value of options exercised was approximately $ .1 billion during 2016 , 2015 and 2014 .', 'cash received from option exercises under all incentive plans for 2016 , 2015 and 2014 was approximately $ .1 billion , $ .1 billion and $ .2 billion , respectively .', 'the tax benefit realized from option exercises under all incentive plans was insignificant for 2016 , 2015 and 2014 .', 'shares of common stock available during the next year for the granting of options and other awards under the incentive plans were approximately 39 million shares at december 31 , 2016 .', 'total shares of pnc common stock authorized for future issuance under all equity compensation plans totaled approximately 40 million shares at december 31 , 2016 .', 'during 2016 , we issued approximately 2 million common shares from treasury stock in connection with stock option exercise activity .', 'as with past exercise activity , we currently intend to utilize primarily treasury stock for any future stock option exercises .', 'incentive/performance unit awards and restricted share/restricted share unit awards the fair value of nonvested incentive/performance unit awards and restricted share/restricted share unit awards is initially determined based on prices not less than the market value of our common stock on the date of grant with a reduction for estimated forfeitures .', 'the value of certain incentive/ performance unit awards is subsequently remeasured based on the achievement of one or more financial and other performance goals .', 'additionally , certain incentive/ performance unit awards require subsequent adjustment to their current market value due to certain discretionary risk review triggers .', 'the weighted-average grant date fair value of incentive/ performance unit awards and restricted share/restricted share unit awards granted in 2016 , 2015 and 2014 was $ 78.37 , $ 91.57 and $ 80.79 per share , respectively .', 'the total intrinsic value of incentive/performance unit and restricted share/ restricted share unit awards vested during 2016 , 2015 and 2014 was approximately $ .1 billion , $ .2 billion and $ .1 billion , respectively .', 'we recognize compensation expense for such awards ratably over the corresponding vesting and/or performance periods for each type of program .', 'table 78 : nonvested incentive/performance unit awards and restricted share/restricted share unit awards 2013 rollforward ( a ) shares in millions nonvested incentive/ performance units shares weighted- average date fair nonvested restricted share/ restricted weighted- average grant date fair value .'] | ['( a ) forfeited awards during 2016 were insignificant .', '( b ) includes adjustments for achieving specific performance goals for incentive/ performance unit share awards granted in prior periods .', 'in table 78 , the units and related weighted-average grant date fair value of the incentive/performance unit share awards exclude the effect of dividends on the underlying shares , as those dividends will be paid in cash if and when the underlying shares are issued to the participants .', 'blackrock long-term incentive plans ( ltip ) blackrock adopted the 2002 ltip program to help attract and retain qualified professionals .', 'at that time , we agreed to transfer up to four million shares of blackrock common stock to fund a portion of the 2002 ltip program and future ltip programs approved by blackrock 2019s board of directors .', 'in 2009 , our obligation to deliver any remaining blackrock common shares was replaced with an obligation to deliver shares of blackrock 2019s series c preferred stock held by us .', 'in 2016 , we transferred .5 million shares of blackrock series c preferred stock to blackrock in connection with our obligation .', 'at december 31 , 2016 , we held approximately .8 million shares of blackrock series c preferred stock which were available to fund our obligations .', 'see note 23 subsequent events for information on our february 1 , 2017 transfer of .5 million shares of the series c preferred stock to blackrock to satisfy a portion of our ltip obligation .', 'we account for our blackrock series c preferred stock at fair value , which offsets the impact of marking-to-market the obligation to deliver these shares to blackrock .', 'see note 6 fair value for additional information regarding the valuation of the blackrock series c preferred stock .', 'the pnc financial services group , inc .', '2013 form 10-k 139 .'] | ****************************************
• shares in millions december 31 2015, nonvested incentive/ performance units shares 2, weighted- average grant date fair value $ 79.27, nonvested restricted share/ restricted share units 3, weighted- average grant date fair value $ 79.26
• granted ( b ), 1, $ 77.77, 1, $ 78.71
• vested/released ( b ), -1 ( 1 ), $ 71.59, -1 ( 1 ), $ 65.53
• december 31 2016, 2, $ 81.42, 3, $ 83.27
**************************************** | add(.1, .2), add(#0, .1) | 0.4 |
what is the net change in accumulated other comprehensive income during 2016? | Pre-text: ['intel corporation notes to consolidated financial statements ( continued ) note 16 : other comprehensive income ( loss ) the changes in accumulated other comprehensive income ( loss ) by component and related tax effects for each period were as follows : ( in millions ) unrealized holding ( losses ) on available- for-sale investments deferred tax asset valuation allowance unrealized holding ( losses ) on derivatives service credits ( costs ) actuarial ( losses ) foreign currency translation adjustment total .']
Data Table:
========================================
• ( in millions ), unrealized holding gains ( losses ) on available-for-sale investments, deferred tax asset valuation allowance, unrealized holding gains ( losses ) on derivatives, prior service credits ( costs ), actuarial gains ( losses ), foreign currency translation adjustment, total
• december 27 2014, $ 2459, $ 26, $ -423 ( 423 ), $ -47 ( 47 ), $ -1004 ( 1004 ), $ -345 ( 345 ), $ 666
• other comprehensive income ( loss ) before reclassifications, -999 ( 999 ), 2014, -298 ( 298 ), -2 ( 2 ), 73, -187 ( 187 ), -1413 ( 1413 )
• amounts reclassified out of accumulated other comprehensive income ( loss ), -93 ( 93 ), 2014, 522, 10, 67, 2014, 506
• tax effects, 382, -18 ( 18 ), -67 ( 67 ), -1 ( 1 ), -12 ( 12 ), 17, 301
• other comprehensive income ( loss ), -710 ( 710 ), -18 ( 18 ), 157, 7, 128, -170 ( 170 ), -606 ( 606 )
• december 26 2015, 1749, 8, -266 ( 266 ), -40 ( 40 ), -876 ( 876 ), -515 ( 515 ), 60
• other comprehensive income ( loss ) before reclassifications, 1170, 2014, -26 ( 26 ), 2014, -680 ( 680 ), -4 ( 4 ), 460
• amounts reclassified out of accumulated other comprehensive income ( loss ), -530 ( 530 ), 2014, 38, 2014, 170, 2014, -322 ( 322 )
• tax effects, -225 ( 225 ), -8 ( 8 ), -5 ( 5 ), 2014, 146, 2014, -92 ( 92 )
• other comprehensive income ( loss ), 415, -8 ( 8 ), 7, 2014, -364 ( 364 ), -4 ( 4 ), 46
• december 31 2016, $ 2164, $ 2014, $ -259 ( 259 ), $ -40 ( 40 ), $ -1240 ( 1240 ), $ -519 ( 519 ), $ 106
========================================
Follow-up: ['.'] | 46.0 | INTC/2016/page_100.pdf-2 | ['intel corporation notes to consolidated financial statements ( continued ) note 16 : other comprehensive income ( loss ) the changes in accumulated other comprehensive income ( loss ) by component and related tax effects for each period were as follows : ( in millions ) unrealized holding ( losses ) on available- for-sale investments deferred tax asset valuation allowance unrealized holding ( losses ) on derivatives service credits ( costs ) actuarial ( losses ) foreign currency translation adjustment total .'] | ['.'] | ========================================
• ( in millions ), unrealized holding gains ( losses ) on available-for-sale investments, deferred tax asset valuation allowance, unrealized holding gains ( losses ) on derivatives, prior service credits ( costs ), actuarial gains ( losses ), foreign currency translation adjustment, total
• december 27 2014, $ 2459, $ 26, $ -423 ( 423 ), $ -47 ( 47 ), $ -1004 ( 1004 ), $ -345 ( 345 ), $ 666
• other comprehensive income ( loss ) before reclassifications, -999 ( 999 ), 2014, -298 ( 298 ), -2 ( 2 ), 73, -187 ( 187 ), -1413 ( 1413 )
• amounts reclassified out of accumulated other comprehensive income ( loss ), -93 ( 93 ), 2014, 522, 10, 67, 2014, 506
• tax effects, 382, -18 ( 18 ), -67 ( 67 ), -1 ( 1 ), -12 ( 12 ), 17, 301
• other comprehensive income ( loss ), -710 ( 710 ), -18 ( 18 ), 157, 7, 128, -170 ( 170 ), -606 ( 606 )
• december 26 2015, 1749, 8, -266 ( 266 ), -40 ( 40 ), -876 ( 876 ), -515 ( 515 ), 60
• other comprehensive income ( loss ) before reclassifications, 1170, 2014, -26 ( 26 ), 2014, -680 ( 680 ), -4 ( 4 ), 460
• amounts reclassified out of accumulated other comprehensive income ( loss ), -530 ( 530 ), 2014, 38, 2014, 170, 2014, -322 ( 322 )
• tax effects, -225 ( 225 ), -8 ( 8 ), -5 ( 5 ), 2014, 146, 2014, -92 ( 92 )
• other comprehensive income ( loss ), 415, -8 ( 8 ), 7, 2014, -364 ( 364 ), -4 ( 4 ), 46
• december 31 2016, $ 2164, $ 2014, $ -259 ( 259 ), $ -40 ( 40 ), $ -1240 ( 1240 ), $ -519 ( 519 ), $ 106
======================================== | subtract(106, 60) | 46.0 |
what percentage of total other current assets in 2007 was comprised of nand flash memory prepayments? | Pre-text: ['notes to consolidated financial statements ( continued ) note 2 2014financial instruments ( continued ) typically , the company hedges portions of its forecasted foreign currency exposure associated with revenue and inventory purchases over a time horizon of up to 6 months .', 'derivative instruments designated as cash flow hedges must be de-designated as hedges when it is probable the forecasted hedged transaction will not occur in the initially identified time period or within a subsequent 2 month time period .', 'deferred gains and losses in other comprehensive income associated with such derivative instruments are immediately reclassified into earnings in other income and expense .', 'any subsequent changes in fair value of such derivative instruments are also reflected in current earnings unless they are re-designated as hedges of other transactions .', 'the company recognized net gains of approximately $ 672000 and $ 421000 in 2007 and 2006 , respectively , and a net loss of $ 1.6 million in 2005 in other income and expense related to the loss of hedge designation on discontinued cash flow hedges due to changes in the company 2019s forecast of future net sales and cost of sales and due to prevailing market conditions .', 'as of september 29 , 2007 , the company had a net deferred gain associated with cash flow hedges of approximately $ 468000 , net of taxes , substantially all of which is expected to be reclassified to earnings by the end of the second quarter of fiscal 2008 .', 'the net gain or loss on the effective portion of a derivative instrument designated as a net investment hedge is included in the cumulative translation adjustment account of accumulated other comprehensive income within shareholders 2019 equity .', 'for the years ended september 29 , 2007 and september 30 , 2006 , the company had a net loss of $ 2.6 million and a net gain of $ 7.4 million , respectively , included in the cumulative translation adjustment .', 'the company may also enter into foreign currency forward and option contracts to offset the foreign exchange gains and losses generated by the re-measurement of certain assets and liabilities recorded in non-functional currencies .', 'changes in the fair value of these derivatives are recognized in current earnings in other income and expense as offsets to the changes in the fair value of the related assets or liabilities .', 'due to currency market movements , changes in option time value can lead to increased volatility in other income and expense .', 'note 3 2014consolidated financial statement details ( in millions ) other current assets .']
Table:
****************************************
2007 2006
vendor non-trade receivables $ 2392 $ 1593
nand flash memory prepayments 417 208
other current assets 996 469
total other current assets $ 3805 $ 2270
****************************************
Additional Information: ['.'] | 0.10959 | AAPL/2007/page_72.pdf-3 | ['notes to consolidated financial statements ( continued ) note 2 2014financial instruments ( continued ) typically , the company hedges portions of its forecasted foreign currency exposure associated with revenue and inventory purchases over a time horizon of up to 6 months .', 'derivative instruments designated as cash flow hedges must be de-designated as hedges when it is probable the forecasted hedged transaction will not occur in the initially identified time period or within a subsequent 2 month time period .', 'deferred gains and losses in other comprehensive income associated with such derivative instruments are immediately reclassified into earnings in other income and expense .', 'any subsequent changes in fair value of such derivative instruments are also reflected in current earnings unless they are re-designated as hedges of other transactions .', 'the company recognized net gains of approximately $ 672000 and $ 421000 in 2007 and 2006 , respectively , and a net loss of $ 1.6 million in 2005 in other income and expense related to the loss of hedge designation on discontinued cash flow hedges due to changes in the company 2019s forecast of future net sales and cost of sales and due to prevailing market conditions .', 'as of september 29 , 2007 , the company had a net deferred gain associated with cash flow hedges of approximately $ 468000 , net of taxes , substantially all of which is expected to be reclassified to earnings by the end of the second quarter of fiscal 2008 .', 'the net gain or loss on the effective portion of a derivative instrument designated as a net investment hedge is included in the cumulative translation adjustment account of accumulated other comprehensive income within shareholders 2019 equity .', 'for the years ended september 29 , 2007 and september 30 , 2006 , the company had a net loss of $ 2.6 million and a net gain of $ 7.4 million , respectively , included in the cumulative translation adjustment .', 'the company may also enter into foreign currency forward and option contracts to offset the foreign exchange gains and losses generated by the re-measurement of certain assets and liabilities recorded in non-functional currencies .', 'changes in the fair value of these derivatives are recognized in current earnings in other income and expense as offsets to the changes in the fair value of the related assets or liabilities .', 'due to currency market movements , changes in option time value can lead to increased volatility in other income and expense .', 'note 3 2014consolidated financial statement details ( in millions ) other current assets .'] | ['.'] | ****************************************
2007 2006
vendor non-trade receivables $ 2392 $ 1593
nand flash memory prepayments 417 208
other current assets 996 469
total other current assets $ 3805 $ 2270
**************************************** | divide(417, 3805) | 0.10959 |
what percentage of total contractual obligations are long-term debt obligations? | Context: ["57management's discussion and analysis of financial condition and results of operations facility include covenants relating to net interest coverage and total debt-to-book capitalization ratios .", 'the company was in compliance with the terms of the 3-year credit facility at december 31 , 2005 .', 'the company has never borrowed under its domestic revolving credit facilities .', 'utilization of the non-u.s .', "credit facilities may also be dependent on the company's ability to meet certain conditions at the time a borrowing is requested .", "contractual obligations , guarantees , and other purchase commitments contractual obligations summarized in the table below are the company's obligations and commitments to make future payments under debt obligations ( assuming earliest possible exercise of put rights by holders ) , lease payment obligations , and purchase obligations as of december 31 , 2005 .", 'payments due by period ( 1 ) ( in millions ) total 2006 2007 2008 2009 2010 thereafter .']
Tabular Data:
• ( in millions ), payments due by period ( 1 ) total, payments due by period ( 1 ) 2006, payments due by period ( 1 ) 2007, payments due by period ( 1 ) 2008, payments due by period ( 1 ) 2009, payments due by period ( 1 ) 2010, payments due by period ( 1 ) thereafter
• long-term debt obligations, $ 4033, $ 119, $ 1222, $ 200, $ 2, $ 529, $ 1961
• lease obligations, 1150, 438, 190, 134, 109, 84, 195
• purchase obligations, 992, 418, 28, 3, 2, 2, 539
• total contractual obligations, $ 6175, $ 975, $ 1440, $ 337, $ 113, $ 615, $ 2695
Post-table: ['( 1 ) amounts included represent firm , non-cancelable commitments .', "debt obligations : at december 31 , 2005 , the company's long-term debt obligations , including current maturities and unamortized discount and issue costs , totaled $ 4.0 billion , as compared to $ 5.0 billion at december 31 , 2004 .", 'a table of all outstanding long-term debt securities can be found in note 4 , ""debt and credit facilities\'\' to the company\'s consolidated financial statements .', 'as previously discussed , the decrease in the long- term debt obligations as compared to december 31 , 2004 , was due to the redemptions and repurchases of $ 1.0 billion principal amount of outstanding securities during 2005 .', 'also , as previously discussed , the remaining $ 118 million of 7.6% ( 7.6 % ) notes due january 1 , 2007 were reclassified to current maturities of long-term debt .', 'lease obligations : the company owns most of its major facilities , but does lease certain office , factory and warehouse space , land , and information technology and other equipment under principally non-cancelable operating leases .', 'at december 31 , 2005 , future minimum lease obligations , net of minimum sublease rentals , totaled $ 1.2 billion .', 'rental expense , net of sublease income , was $ 254 million in 2005 , $ 217 million in 2004 and $ 223 million in 2003 .', 'purchase obligations : the company has entered into agreements for the purchase of inventory , license of software , promotional agreements , and research and development agreements which are firm commitments and are not cancelable .', 'the longest of these agreements extends through 2015 .', 'total payments expected to be made under these agreements total $ 992 million .', 'commitments under other long-term agreements : the company has entered into certain long-term agreements to purchase software , components , supplies and materials from suppliers .', 'most of the agreements extend for periods of one to three years ( three to five years for software ) .', 'however , generally these agreements do not obligate the company to make any purchases , and many permit the company to terminate the agreement with advance notice ( usually ranging from 60 to 180 days ) .', 'if the company were to terminate these agreements , it generally would be liable for certain termination charges , typically based on work performed and supplier on-hand inventory and raw materials attributable to canceled orders .', 'the company\'s liability would only arise in the event it terminates the agreements for reasons other than ""cause.\'\' in 2003 , the company entered into outsourcing contracts for certain corporate functions , such as benefit administration and information technology related services .', 'these contracts generally extend for 10 years and are expected to expire in 2013 .', 'the total payments under these contracts are approximately $ 3 billion over 10 years ; however , these contracts can be terminated .', 'termination would result in a penalty substantially less than the annual contract payments .', 'the company would also be required to find another source for these services , including the possibility of performing them in-house .', 'as is customary in bidding for and completing network infrastructure projects and pursuant to a practice the company has followed for many years , the company has a number of performance/bid bonds and standby letters of credit outstanding , primarily relating to projects of government and enterprise mobility solutions segment and the networks segment .', 'these instruments normally have maturities of up to three years and are standard in the .'] | 0.65312 | MSI/2005/page_64.pdf-2 | ["57management's discussion and analysis of financial condition and results of operations facility include covenants relating to net interest coverage and total debt-to-book capitalization ratios .", 'the company was in compliance with the terms of the 3-year credit facility at december 31 , 2005 .', 'the company has never borrowed under its domestic revolving credit facilities .', 'utilization of the non-u.s .', "credit facilities may also be dependent on the company's ability to meet certain conditions at the time a borrowing is requested .", "contractual obligations , guarantees , and other purchase commitments contractual obligations summarized in the table below are the company's obligations and commitments to make future payments under debt obligations ( assuming earliest possible exercise of put rights by holders ) , lease payment obligations , and purchase obligations as of december 31 , 2005 .", 'payments due by period ( 1 ) ( in millions ) total 2006 2007 2008 2009 2010 thereafter .'] | ['( 1 ) amounts included represent firm , non-cancelable commitments .', "debt obligations : at december 31 , 2005 , the company's long-term debt obligations , including current maturities and unamortized discount and issue costs , totaled $ 4.0 billion , as compared to $ 5.0 billion at december 31 , 2004 .", 'a table of all outstanding long-term debt securities can be found in note 4 , ""debt and credit facilities\'\' to the company\'s consolidated financial statements .', 'as previously discussed , the decrease in the long- term debt obligations as compared to december 31 , 2004 , was due to the redemptions and repurchases of $ 1.0 billion principal amount of outstanding securities during 2005 .', 'also , as previously discussed , the remaining $ 118 million of 7.6% ( 7.6 % ) notes due january 1 , 2007 were reclassified to current maturities of long-term debt .', 'lease obligations : the company owns most of its major facilities , but does lease certain office , factory and warehouse space , land , and information technology and other equipment under principally non-cancelable operating leases .', 'at december 31 , 2005 , future minimum lease obligations , net of minimum sublease rentals , totaled $ 1.2 billion .', 'rental expense , net of sublease income , was $ 254 million in 2005 , $ 217 million in 2004 and $ 223 million in 2003 .', 'purchase obligations : the company has entered into agreements for the purchase of inventory , license of software , promotional agreements , and research and development agreements which are firm commitments and are not cancelable .', 'the longest of these agreements extends through 2015 .', 'total payments expected to be made under these agreements total $ 992 million .', 'commitments under other long-term agreements : the company has entered into certain long-term agreements to purchase software , components , supplies and materials from suppliers .', 'most of the agreements extend for periods of one to three years ( three to five years for software ) .', 'however , generally these agreements do not obligate the company to make any purchases , and many permit the company to terminate the agreement with advance notice ( usually ranging from 60 to 180 days ) .', 'if the company were to terminate these agreements , it generally would be liable for certain termination charges , typically based on work performed and supplier on-hand inventory and raw materials attributable to canceled orders .', 'the company\'s liability would only arise in the event it terminates the agreements for reasons other than ""cause.\'\' in 2003 , the company entered into outsourcing contracts for certain corporate functions , such as benefit administration and information technology related services .', 'these contracts generally extend for 10 years and are expected to expire in 2013 .', 'the total payments under these contracts are approximately $ 3 billion over 10 years ; however , these contracts can be terminated .', 'termination would result in a penalty substantially less than the annual contract payments .', 'the company would also be required to find another source for these services , including the possibility of performing them in-house .', 'as is customary in bidding for and completing network infrastructure projects and pursuant to a practice the company has followed for many years , the company has a number of performance/bid bonds and standby letters of credit outstanding , primarily relating to projects of government and enterprise mobility solutions segment and the networks segment .', 'these instruments normally have maturities of up to three years and are standard in the .'] | • ( in millions ), payments due by period ( 1 ) total, payments due by period ( 1 ) 2006, payments due by period ( 1 ) 2007, payments due by period ( 1 ) 2008, payments due by period ( 1 ) 2009, payments due by period ( 1 ) 2010, payments due by period ( 1 ) thereafter
• long-term debt obligations, $ 4033, $ 119, $ 1222, $ 200, $ 2, $ 529, $ 1961
• lease obligations, 1150, 438, 190, 134, 109, 84, 195
• purchase obligations, 992, 418, 28, 3, 2, 2, 539
• total contractual obligations, $ 6175, $ 975, $ 1440, $ 337, $ 113, $ 615, $ 2695 | divide(4033, 6175) | 0.65312 |
for the year ended december 312009 what was the percentage of the income before income tax expense/ ( benefit ) and extraordinary gain from the us | Context: ['notes to consolidated financial statements jpmorgan chase & co./2009 annual report 236 the following table presents the u.s .', 'and non-u.s .', 'components of income before income tax expense/ ( benefit ) and extraordinary gain for the years ended december 31 , 2009 , 2008 and 2007 .', 'year ended december 31 , ( in millions ) 2009 2008 2007 .']
####
Data Table:
========================================
year ended december 31 ( in millions ) 2009 2008 2007
u.s . $ 6263 $ -2094 ( 2094 ) $ 13720
non-u.s. ( a ) 9804 4867 9085
income before income taxexpense/ ( benefit ) andextraordinary gain $ 16067 $ 2773 $ 22805
========================================
####
Follow-up: ['non-u.s. ( a ) 9804 4867 9085 income before income tax expense/ ( benefit ) and extraordinary gain $ 16067 $ 2773 $ 22805 ( a ) for purposes of this table , non-u.s .', 'income is defined as income generated from operations located outside the u.s .', 'note 28 2013 restrictions on cash and inter- company funds transfers the business of jpmorgan chase bank , national association ( 201cjpmorgan chase bank , n.a . 201d ) is subject to examination and regulation by the office of the comptroller of the currency ( 201cocc 201d ) .', 'the bank is a member of the u.s .', 'federal reserve sys- tem , and its deposits are insured by the fdic .', 'the board of governors of the federal reserve system ( the 201cfed- eral reserve 201d ) requires depository institutions to maintain cash reserves with a federal reserve bank .', 'the average amount of reserve balances deposited by the firm 2019s bank subsidiaries with various federal reserve banks was approximately $ 821 million and $ 1.6 billion in 2009 and 2008 , respectively .', 'restrictions imposed by u.s .', 'federal law prohibit jpmorgan chase and certain of its affiliates from borrowing from banking subsidiar- ies unless the loans are secured in specified amounts .', 'such secured loans to the firm or to other affiliates are generally limited to 10% ( 10 % ) of the banking subsidiary 2019s total capital , as determined by the risk- based capital guidelines ; the aggregate amount of all such loans is limited to 20% ( 20 % ) of the banking subsidiary 2019s total capital .', 'the principal sources of jpmorgan chase 2019s income ( on a parent company 2013only basis ) are dividends and interest from jpmorgan chase bank , n.a. , and the other banking and nonbanking subsidi- aries of jpmorgan chase .', 'in addition to dividend restrictions set forth in statutes and regulations , the federal reserve , the occ and the fdic have authority under the financial institutions supervisory act to prohibit or to limit the payment of dividends by the banking organizations they supervise , including jpmorgan chase and its subsidiaries that are banks or bank holding companies , if , in the banking regulator 2019s opinion , payment of a dividend would consti- tute an unsafe or unsound practice in light of the financial condi- tion of the banking organization .', 'at january 1 , 2010 and 2009 , jpmorgan chase 2019s banking subsidi- aries could pay , in the aggregate , $ 3.6 billion and $ 17.0 billion , respectively , in dividends to their respective bank holding compa- nies without the prior approval of their relevant banking regulators .', 'the capacity to pay dividends in 2010 will be supplemented by the banking subsidiaries 2019 earnings during the year .', 'in compliance with rules and regulations established by u.s .', 'and non-u.s .', 'regulators , as of december 31 , 2009 and 2008 , cash in the amount of $ 24.0 billion and $ 34.8 billion , respectively , and securities with a fair value of $ 10.2 billion and $ 23.4 billion , re- spectively , were segregated in special bank accounts for the benefit of securities and futures brokerage customers .', 'note 29 2013 capital the federal reserve establishes capital requirements , including well-capitalized standards for the consolidated financial holding company .', 'the occ establishes similar capital requirements and standards for the firm 2019s national banks , including jpmorgan chase bank , n.a. , and chase bank usa , n.a .', 'there are two categories of risk-based capital : tier 1 capital and tier 2 capital .', 'tier 1 capital includes common stockholders 2019 equity , qualifying preferred stock and minority interest less goodwill and other adjustments .', 'tier 2 capital consists of preferred stock not qualifying as tier 1 , subordinated long-term debt and other instru- ments qualifying as tier 2 , and the aggregate allowance for credit losses up to a certain percentage of risk-weighted assets .', 'total regulatory capital is subject to deductions for investments in certain subsidiaries .', 'under the risk-based capital guidelines of the federal reserve , jpmorgan chase is required to maintain minimum ratios of tier 1 and total ( tier 1 plus tier 2 ) capital to risk-weighted assets , as well as minimum leverage ratios ( which are defined as tier 1 capital to average adjusted on 2013balance sheet assets ) .', 'failure to meet these minimum requirements could cause the federal reserve to take action .', 'banking subsidiaries also are subject to these capital requirements by their respective primary regulators .', 'as of december 31 , 2009 and 2008 , jpmorgan chase and all of its banking sub- sidiaries were well-capitalized and met all capital requirements to which each was subject. .'] | 0.38981 | JPM/2009/page_238.pdf-2 | ['notes to consolidated financial statements jpmorgan chase & co./2009 annual report 236 the following table presents the u.s .', 'and non-u.s .', 'components of income before income tax expense/ ( benefit ) and extraordinary gain for the years ended december 31 , 2009 , 2008 and 2007 .', 'year ended december 31 , ( in millions ) 2009 2008 2007 .'] | ['non-u.s. ( a ) 9804 4867 9085 income before income tax expense/ ( benefit ) and extraordinary gain $ 16067 $ 2773 $ 22805 ( a ) for purposes of this table , non-u.s .', 'income is defined as income generated from operations located outside the u.s .', 'note 28 2013 restrictions on cash and inter- company funds transfers the business of jpmorgan chase bank , national association ( 201cjpmorgan chase bank , n.a . 201d ) is subject to examination and regulation by the office of the comptroller of the currency ( 201cocc 201d ) .', 'the bank is a member of the u.s .', 'federal reserve sys- tem , and its deposits are insured by the fdic .', 'the board of governors of the federal reserve system ( the 201cfed- eral reserve 201d ) requires depository institutions to maintain cash reserves with a federal reserve bank .', 'the average amount of reserve balances deposited by the firm 2019s bank subsidiaries with various federal reserve banks was approximately $ 821 million and $ 1.6 billion in 2009 and 2008 , respectively .', 'restrictions imposed by u.s .', 'federal law prohibit jpmorgan chase and certain of its affiliates from borrowing from banking subsidiar- ies unless the loans are secured in specified amounts .', 'such secured loans to the firm or to other affiliates are generally limited to 10% ( 10 % ) of the banking subsidiary 2019s total capital , as determined by the risk- based capital guidelines ; the aggregate amount of all such loans is limited to 20% ( 20 % ) of the banking subsidiary 2019s total capital .', 'the principal sources of jpmorgan chase 2019s income ( on a parent company 2013only basis ) are dividends and interest from jpmorgan chase bank , n.a. , and the other banking and nonbanking subsidi- aries of jpmorgan chase .', 'in addition to dividend restrictions set forth in statutes and regulations , the federal reserve , the occ and the fdic have authority under the financial institutions supervisory act to prohibit or to limit the payment of dividends by the banking organizations they supervise , including jpmorgan chase and its subsidiaries that are banks or bank holding companies , if , in the banking regulator 2019s opinion , payment of a dividend would consti- tute an unsafe or unsound practice in light of the financial condi- tion of the banking organization .', 'at january 1 , 2010 and 2009 , jpmorgan chase 2019s banking subsidi- aries could pay , in the aggregate , $ 3.6 billion and $ 17.0 billion , respectively , in dividends to their respective bank holding compa- nies without the prior approval of their relevant banking regulators .', 'the capacity to pay dividends in 2010 will be supplemented by the banking subsidiaries 2019 earnings during the year .', 'in compliance with rules and regulations established by u.s .', 'and non-u.s .', 'regulators , as of december 31 , 2009 and 2008 , cash in the amount of $ 24.0 billion and $ 34.8 billion , respectively , and securities with a fair value of $ 10.2 billion and $ 23.4 billion , re- spectively , were segregated in special bank accounts for the benefit of securities and futures brokerage customers .', 'note 29 2013 capital the federal reserve establishes capital requirements , including well-capitalized standards for the consolidated financial holding company .', 'the occ establishes similar capital requirements and standards for the firm 2019s national banks , including jpmorgan chase bank , n.a. , and chase bank usa , n.a .', 'there are two categories of risk-based capital : tier 1 capital and tier 2 capital .', 'tier 1 capital includes common stockholders 2019 equity , qualifying preferred stock and minority interest less goodwill and other adjustments .', 'tier 2 capital consists of preferred stock not qualifying as tier 1 , subordinated long-term debt and other instru- ments qualifying as tier 2 , and the aggregate allowance for credit losses up to a certain percentage of risk-weighted assets .', 'total regulatory capital is subject to deductions for investments in certain subsidiaries .', 'under the risk-based capital guidelines of the federal reserve , jpmorgan chase is required to maintain minimum ratios of tier 1 and total ( tier 1 plus tier 2 ) capital to risk-weighted assets , as well as minimum leverage ratios ( which are defined as tier 1 capital to average adjusted on 2013balance sheet assets ) .', 'failure to meet these minimum requirements could cause the federal reserve to take action .', 'banking subsidiaries also are subject to these capital requirements by their respective primary regulators .', 'as of december 31 , 2009 and 2008 , jpmorgan chase and all of its banking sub- sidiaries were well-capitalized and met all capital requirements to which each was subject. .'] | ========================================
year ended december 31 ( in millions ) 2009 2008 2007
u.s . $ 6263 $ -2094 ( 2094 ) $ 13720
non-u.s. ( a ) 9804 4867 9085
income before income taxexpense/ ( benefit ) andextraordinary gain $ 16067 $ 2773 $ 22805
======================================== | divide(6263, 16067) | 0.38981 |
what was the change in the dow jones technology index between 2016 and 2017? | Pre-text: ['apple inc .', '| 2017 form 10-k | 20 company stock performance the following graph shows a comparison of cumulative total shareholder return , calculated on a dividend reinvested basis , for the company , the s&p 500 index , the s&p information technology index and the dow jones u.s .', 'technology supersector index for the five years ended september 30 , 2017 .', 'the graph assumes $ 100 was invested in each of the company 2019s common stock , the s&p 500 index , the s&p information technology index and the dow jones u.s .', 'technology supersector index as of the market close on september 28 , 2012 .', 'note that historic stock price performance is not necessarily indicative of future stock price performance .', '* $ 100 invested on 9/28/12 in stock or index , including reinvestment of dividends .', 'data points are the last day of each fiscal year for the company 2019s common stock and september 30th for indexes .', 'copyright a9 2017 s&p , a division of mcgraw hill financial .', 'all rights reserved .', 'copyright a9 2017 dow jones & co .', 'all rights reserved .', 'september september september september september september .']
##
Table:
Row 1: , september2012, september2013, september2014, september2015, september2016, september2017
Row 2: apple inc ., $ 100, $ 74, $ 111, $ 128, $ 129, $ 179
Row 3: s&p 500 index, $ 100, $ 119, $ 143, $ 142, $ 164, $ 194
Row 4: s&p information technology index, $ 100, $ 107, $ 138, $ 141, $ 173, $ 223
Row 5: dow jones u.s . technology supersector index, $ 100, $ 105, $ 137, $ 137, $ 167, $ 214
##
Post-table: ['.'] | 47.0 | AAPL/2017/page_23.pdf-1 | ['apple inc .', '| 2017 form 10-k | 20 company stock performance the following graph shows a comparison of cumulative total shareholder return , calculated on a dividend reinvested basis , for the company , the s&p 500 index , the s&p information technology index and the dow jones u.s .', 'technology supersector index for the five years ended september 30 , 2017 .', 'the graph assumes $ 100 was invested in each of the company 2019s common stock , the s&p 500 index , the s&p information technology index and the dow jones u.s .', 'technology supersector index as of the market close on september 28 , 2012 .', 'note that historic stock price performance is not necessarily indicative of future stock price performance .', '* $ 100 invested on 9/28/12 in stock or index , including reinvestment of dividends .', 'data points are the last day of each fiscal year for the company 2019s common stock and september 30th for indexes .', 'copyright a9 2017 s&p , a division of mcgraw hill financial .', 'all rights reserved .', 'copyright a9 2017 dow jones & co .', 'all rights reserved .', 'september september september september september september .'] | ['.'] | Row 1: , september2012, september2013, september2014, september2015, september2016, september2017
Row 2: apple inc ., $ 100, $ 74, $ 111, $ 128, $ 129, $ 179
Row 3: s&p 500 index, $ 100, $ 119, $ 143, $ 142, $ 164, $ 194
Row 4: s&p information technology index, $ 100, $ 107, $ 138, $ 141, $ 173, $ 223
Row 5: dow jones u.s . technology supersector index, $ 100, $ 105, $ 137, $ 137, $ 167, $ 214 | subtract(214, 167) | 47.0 |
what is the expected growth rate in amortization expense related to intangible assets from 2017 to 2018? | Pre-text: ['92 | 2017 form 10-k finite-lived intangible assets are amortized over their estimated useful lives and tested for impairment if events or changes in circumstances indicate that the asset may be impaired .', 'in 2016 , gross customer relationship intangibles of $ 96 million and related accumulated amortization of $ 27 million as well as gross intellectual property intangibles of $ 111 million and related accumulated amortization of $ 48 million from the resource industries segment were impaired .', 'the fair value of these intangibles was determined to be insignificant based on an income approach using expected cash flows .', 'the fair value determination is categorized as level 3 in the fair value hierarchy due to its use of internal projections and unobservable measurement inputs .', 'the total impairment of $ 132 million was a result of restructuring activities and is included in other operating ( income ) expense in statement 1 .', 'see note 25 for information on restructuring costs .', 'amortization expense related to intangible assets was $ 323 million , $ 326 million and $ 337 million for 2017 , 2016 and 2015 , respectively .', 'as of december 31 , 2017 , amortization expense related to intangible assets is expected to be : ( millions of dollars ) .']
########
Tabular Data:
----------------------------------------
2018 | 2019 | 2020 | 2021 | 2022 | thereafter
$ 322 | $ 316 | $ 305 | $ 287 | $ 268 | $ 613
----------------------------------------
########
Additional Information: ['b .', 'goodwill there were no goodwill impairments during 2017 or 2015 .', 'our annual impairment tests completed in the fourth quarter of 2016 indicated the fair value of each reporting unit was substantially above its respective carrying value , including goodwill , with the exception of our surface mining & technology reporting unit .', 'the surface mining & technology reporting unit , which primarily serves the mining industry , is a part of our resource industries segment .', 'the goodwill assigned to this reporting unit is largely from our acquisition of bucyrus international , inc .', 'in 2011 .', 'its product portfolio includes large mining trucks , electric rope shovels , draglines , hydraulic shovels and related parts .', 'in addition to equipment , surface mining & technology also develops and sells technology products and services to provide customer fleet management , equipment management analytics and autonomous machine capabilities .', 'the annual impairment test completed in the fourth quarter of 2016 indicated that the fair value of surface mining & technology was below its carrying value requiring the second step of the goodwill impairment test process .', 'the fair value of surface mining & technology was determined primarily using an income approach based on a discounted ten year cash flow .', 'we assigned the fair value to surface mining & technology 2019s assets and liabilities using various valuation techniques that required assumptions about royalty rates , dealer attrition , technological obsolescence and discount rates .', 'the resulting implied fair value of goodwill was below the carrying value .', 'accordingly , we recognized a goodwill impairment charge of $ 595 million , which resulted in goodwill of $ 629 million remaining for surface mining & technology as of october 1 , 2016 .', 'the fair value determination is categorized as level 3 in the fair value hierarchy due to its use of internal projections and unobservable measurement inputs .', 'there was a $ 17 million tax benefit associated with this impairment charge. .'] | -0.0031 | CAT/2017/page_113.pdf-1 | ['92 | 2017 form 10-k finite-lived intangible assets are amortized over their estimated useful lives and tested for impairment if events or changes in circumstances indicate that the asset may be impaired .', 'in 2016 , gross customer relationship intangibles of $ 96 million and related accumulated amortization of $ 27 million as well as gross intellectual property intangibles of $ 111 million and related accumulated amortization of $ 48 million from the resource industries segment were impaired .', 'the fair value of these intangibles was determined to be insignificant based on an income approach using expected cash flows .', 'the fair value determination is categorized as level 3 in the fair value hierarchy due to its use of internal projections and unobservable measurement inputs .', 'the total impairment of $ 132 million was a result of restructuring activities and is included in other operating ( income ) expense in statement 1 .', 'see note 25 for information on restructuring costs .', 'amortization expense related to intangible assets was $ 323 million , $ 326 million and $ 337 million for 2017 , 2016 and 2015 , respectively .', 'as of december 31 , 2017 , amortization expense related to intangible assets is expected to be : ( millions of dollars ) .'] | ['b .', 'goodwill there were no goodwill impairments during 2017 or 2015 .', 'our annual impairment tests completed in the fourth quarter of 2016 indicated the fair value of each reporting unit was substantially above its respective carrying value , including goodwill , with the exception of our surface mining & technology reporting unit .', 'the surface mining & technology reporting unit , which primarily serves the mining industry , is a part of our resource industries segment .', 'the goodwill assigned to this reporting unit is largely from our acquisition of bucyrus international , inc .', 'in 2011 .', 'its product portfolio includes large mining trucks , electric rope shovels , draglines , hydraulic shovels and related parts .', 'in addition to equipment , surface mining & technology also develops and sells technology products and services to provide customer fleet management , equipment management analytics and autonomous machine capabilities .', 'the annual impairment test completed in the fourth quarter of 2016 indicated that the fair value of surface mining & technology was below its carrying value requiring the second step of the goodwill impairment test process .', 'the fair value of surface mining & technology was determined primarily using an income approach based on a discounted ten year cash flow .', 'we assigned the fair value to surface mining & technology 2019s assets and liabilities using various valuation techniques that required assumptions about royalty rates , dealer attrition , technological obsolescence and discount rates .', 'the resulting implied fair value of goodwill was below the carrying value .', 'accordingly , we recognized a goodwill impairment charge of $ 595 million , which resulted in goodwill of $ 629 million remaining for surface mining & technology as of october 1 , 2016 .', 'the fair value determination is categorized as level 3 in the fair value hierarchy due to its use of internal projections and unobservable measurement inputs .', 'there was a $ 17 million tax benefit associated with this impairment charge. .'] | ----------------------------------------
2018 | 2019 | 2020 | 2021 | 2022 | thereafter
$ 322 | $ 316 | $ 305 | $ 287 | $ 268 | $ 613
---------------------------------------- | subtract(322, 323), divide(#0, 323) | -0.0031 |
what is the percent change in net revenue from 2016 to 2017? | 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
----------------------------------------
----
Follow-up: ['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 .'] | 0.0225 | ETR/2017/page_19.pdf-3 | ['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
---------------------------------------- | subtract(6318, 6179), divide(#0, 6179) | 0.0225 |
what was the 2019 rate of decrease in estimated interest expense payments? | Background: ['restrictive covenants the terms of the 2017 credit facility and certain of our senior unsecured notes include certain restrictions and covenants which may limit , among other things , our ability to pay dividends , make certain types of investments , incur additional indebtedness , incur liens and enter into negative pledge agreements and dispose of assets , and which require compliance with financial ratios relating to the maximum ratio of total indebtedness to total asset value , a minimum ratio of ebitda to fixed charges , a maximum ratio of secured indebtedness to total asset value and a maximum ratio of unsecured indebtedness to unencumbered asset value .', 'the dividend restriction referred to above provides that , we will not during any time when a default is continuing , make distributions with respect to common stock or other equity interests , except to enable the company to continue to qualify as a reit for federal income tax purposes .', 'as of december a031 , 2017 and 2016 , we were in compliance with all such covenants .', 'junior subordinated deferrable interest debentures in june a02005 , the company and the operating partnership issued $ 100.0 a0million in unsecured trust preferred securities through a newly formed trust , sl a0green capital trust i , or the trust , which is a wholly-owned subsidiary of the operating partnership .', 'the securities mature in 2035 and bear interest at a floating rate of 125 a0basis points over the three-month libor .', 'interest payments may be deferred for a period of up to eight consecutive quarters if the operating partnership exercises its right to defer such payments .', 'the trust preferred securities are redeemable at the option of the operating partnership , in whole or in part , with no prepayment premium .', 'we do not consolidate the trust even though it is a variable interest entity as we are not the primary beneficiary .', 'because the trust is not consolidated , we have recorded the debt on our consolidated balance sheets and the related payments are classified as interest expense .', 'interest rate risk we are exposed to changes in interest rates primarily from our variable rate debt .', 'our exposure to interest rate fluctuations are managed through either the use of interest rate derivative instru- ments and/or through our variable rate debt and preferred equity investments .', 'a hypothetical 100 a0basis point increase in interest rates along the entire interest rate curve for a02017 would increase our consolidated annual interest cost , net of interest income from variable rate debt and preferred equity investments , by $ 2.7 a0mil- lion and would increase our share of joint venture annual interest cost by $ 17.2 a0million .', 'at december a031 , 2017 , 61.5% ( 61.5 % ) of our $ 2.1 a0bil- lion debt and preferred equity portfolio is indexed to libor .', 'we recognize most derivatives on the balance sheet at fair value .', 'derivatives that are not hedges are adjusted to fair value through income .', 'if a derivative is considered 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 earnings , or recog- nized in other comprehensive income until the hedged item is recognized in earnings .', 'the ineffective portion of a derivative 2019s change in fair value is immediately recognized in a0earnings .', 'our long-term debt of $ 4.3 a0billion bears interest at fixed rates , and therefore the fair value of these instruments is affected by changes in the market interest rates .', 'our variable rate debt and variable rate joint venture debt as of december a031 , 2017 bore interest based on a spread of libor plus 100 a0basis points to libor plus 415 a0basis points .', 'contractual obligations the combined aggregate principal maturities of mortgages and other loans payable , the 2017 credit facility , senior unsecured notes ( net of discount ) , trust preferred securities , our share of joint venture debt , including as-of-right extension options and put options , estimated interest expense , and our obligations under our capital lease and ground leases , as of december a031 , 2017 are as follows ( in a0thousands ) : .']
----
Tabular Data:
****************************************
Row 1: , 2018, 2019, 2020, 2021, 2022, thereafter, total
Row 2: property mortgages and other loans, $ 153593, $ 42289, $ 703018, $ 11656, $ 208003, $ 1656623, $ 2775182
Row 3: mra facilities, 90809, 2014, 2014, 2014, 2014, 2014, 90809
Row 4: revolving credit facility, 2014, 2014, 2014, 2014, 2014, 40000, 40000
Row 5: unsecured term loans, 2014, 2014, 2014, 2014, 2014, 1500000, 1500000
Row 6: senior unsecured notes, 250000, 2014, 250000, 2014, 800000, 100000, 1400000
Row 7: trust preferred securities, 2014, 2014, 2014, 2014, 2014, 100000, 100000
Row 8: capital lease, 2387, 2411, 2620, 2794, 2794, 819894, 832900
Row 9: ground leases, 31049, 31066, 31436, 31628, 29472, 703254, 857905
Row 10: estimated interest expense, 226815, 218019, 184376, 163648, 155398, 281694, 1229950
Row 11: joint venture debt, 200250, 717682, 473809, 449740, 223330, 2119481, 4184292
Row 12: total, $ 954903, $ 1011467, $ 1645259, $ 659466, $ 1418997, $ 7320946, $ 13011038
****************************************
----
Follow-up: ['.'] | 0.03878 | SLG/2017/page_61.pdf-2 | ['restrictive covenants the terms of the 2017 credit facility and certain of our senior unsecured notes include certain restrictions and covenants which may limit , among other things , our ability to pay dividends , make certain types of investments , incur additional indebtedness , incur liens and enter into negative pledge agreements and dispose of assets , and which require compliance with financial ratios relating to the maximum ratio of total indebtedness to total asset value , a minimum ratio of ebitda to fixed charges , a maximum ratio of secured indebtedness to total asset value and a maximum ratio of unsecured indebtedness to unencumbered asset value .', 'the dividend restriction referred to above provides that , we will not during any time when a default is continuing , make distributions with respect to common stock or other equity interests , except to enable the company to continue to qualify as a reit for federal income tax purposes .', 'as of december a031 , 2017 and 2016 , we were in compliance with all such covenants .', 'junior subordinated deferrable interest debentures in june a02005 , the company and the operating partnership issued $ 100.0 a0million in unsecured trust preferred securities through a newly formed trust , sl a0green capital trust i , or the trust , which is a wholly-owned subsidiary of the operating partnership .', 'the securities mature in 2035 and bear interest at a floating rate of 125 a0basis points over the three-month libor .', 'interest payments may be deferred for a period of up to eight consecutive quarters if the operating partnership exercises its right to defer such payments .', 'the trust preferred securities are redeemable at the option of the operating partnership , in whole or in part , with no prepayment premium .', 'we do not consolidate the trust even though it is a variable interest entity as we are not the primary beneficiary .', 'because the trust is not consolidated , we have recorded the debt on our consolidated balance sheets and the related payments are classified as interest expense .', 'interest rate risk we are exposed to changes in interest rates primarily from our variable rate debt .', 'our exposure to interest rate fluctuations are managed through either the use of interest rate derivative instru- ments and/or through our variable rate debt and preferred equity investments .', 'a hypothetical 100 a0basis point increase in interest rates along the entire interest rate curve for a02017 would increase our consolidated annual interest cost , net of interest income from variable rate debt and preferred equity investments , by $ 2.7 a0mil- lion and would increase our share of joint venture annual interest cost by $ 17.2 a0million .', 'at december a031 , 2017 , 61.5% ( 61.5 % ) of our $ 2.1 a0bil- lion debt and preferred equity portfolio is indexed to libor .', 'we recognize most derivatives on the balance sheet at fair value .', 'derivatives that are not hedges are adjusted to fair value through income .', 'if a derivative is considered 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 earnings , or recog- nized in other comprehensive income until the hedged item is recognized in earnings .', 'the ineffective portion of a derivative 2019s change in fair value is immediately recognized in a0earnings .', 'our long-term debt of $ 4.3 a0billion bears interest at fixed rates , and therefore the fair value of these instruments is affected by changes in the market interest rates .', 'our variable rate debt and variable rate joint venture debt as of december a031 , 2017 bore interest based on a spread of libor plus 100 a0basis points to libor plus 415 a0basis points .', 'contractual obligations the combined aggregate principal maturities of mortgages and other loans payable , the 2017 credit facility , senior unsecured notes ( net of discount ) , trust preferred securities , our share of joint venture debt , including as-of-right extension options and put options , estimated interest expense , and our obligations under our capital lease and ground leases , as of december a031 , 2017 are as follows ( in a0thousands ) : .'] | ['.'] | ****************************************
Row 1: , 2018, 2019, 2020, 2021, 2022, thereafter, total
Row 2: property mortgages and other loans, $ 153593, $ 42289, $ 703018, $ 11656, $ 208003, $ 1656623, $ 2775182
Row 3: mra facilities, 90809, 2014, 2014, 2014, 2014, 2014, 90809
Row 4: revolving credit facility, 2014, 2014, 2014, 2014, 2014, 40000, 40000
Row 5: unsecured term loans, 2014, 2014, 2014, 2014, 2014, 1500000, 1500000
Row 6: senior unsecured notes, 250000, 2014, 250000, 2014, 800000, 100000, 1400000
Row 7: trust preferred securities, 2014, 2014, 2014, 2014, 2014, 100000, 100000
Row 8: capital lease, 2387, 2411, 2620, 2794, 2794, 819894, 832900
Row 9: ground leases, 31049, 31066, 31436, 31628, 29472, 703254, 857905
Row 10: estimated interest expense, 226815, 218019, 184376, 163648, 155398, 281694, 1229950
Row 11: joint venture debt, 200250, 717682, 473809, 449740, 223330, 2119481, 4184292
Row 12: total, $ 954903, $ 1011467, $ 1645259, $ 659466, $ 1418997, $ 7320946, $ 13011038
**************************************** | subtract(226815, 218019), divide(#0, 226815) | 0.03878 |
as part of the restructuring additional information what was the percent of the 2 research and development contract costs to the total cost in 2006 | Context: ['vertex pharmaceuticals incorporated notes to consolidated financial statements ( continued ) i .', 'altus investment ( continued ) of the offering , held 450000 shares of redeemable preferred stock , which are not convertible into common stock and which are redeemable for $ 10.00 per share plus annual dividends of $ 0.50 per share , which have been accruing since the redeemable preferred stock was issued in 1999 , at vertex 2019s option on or after december 31 , 2010 , or by altus at any time .', 'the company was restricted from trading altus securities for a period of six months following the initial public offering .', 'when the altus securities trading restrictions expired , the company sold the 817749 shares of altus common stock for approximately $ 11.7 million , resulting in a realized gain of approximately $ 7.7 million in august 2006 .', 'additionally when the restrictions expired , the company began accounting for the altus warrants as derivative instruments under the financial accounting standards board statement no .', 'fas 133 , 201caccounting for derivative instruments and hedging activities 201d ( 201cfas 133 201d ) .', 'in accordance with fas 133 , in the third quarter of 2006 , the company recorded the altus warrants on its consolidated balance sheet at a fair market value of $ 19.1 million and recorded an unrealized gain on the fair market value of the altus warrants of $ 4.3 million .', 'in the fourth quarter of 2006 the company sold the altus warrants for approximately $ 18.3 million , resulting in a realized loss of $ 0.7 million .', 'as a result of the company 2019s sales of altus common stock and altus warrrants in 2006 , the company recorded a realized gain on a sale of investment of $ 11.2 million .', 'in accordance with the company 2019s policy , as outlined in note b , 201caccounting policies , 201d the company assessed its investment in altus , which it accounts for using the cost method , and determined that there had not been any adjustments to the fair values of that investment that would require the company to write down the investment basis of the asset , in 2005 and 2006 .', 'the company 2019s cost basis carrying value in its outstanding equity and warrants of altus was $ 18.9 million at december 31 , 2005 .', 'j .', 'accrued expenses and other current liabilities accrued expenses and other current liabilities consist of the following at december 31 ( in thousands ) : k .', 'commitments the company leases its facilities and certain equipment under non-cancelable operating leases .', 'the company 2019s leases have terms through april 2018 .', 'the term of the kendall square lease began january 1 , 2003 and lease payments commenced in may 2003 .', 'the company had an obligation under the kendall square lease , staged through 2006 , to build-out the space into finished laboratory and office space .', 'this lease will expire in 2018 , and the company has the option to extend the term for two consecutive terms of ten years each , ultimately expiring in 2038 .', 'the company occupies and uses for its operations approximately 120000 square feet of the kendall square facility .', 'the company has sublease arrangements in place for the remaining rentable square footage of the kendall square facility , with initial terms that expires in april 2011 and august 2012 .', 'see note e , 201crestructuring 201d for further information. .']
----
Table:
========================================
| 2006 | 2005
----------|----------|----------
research and development contract costs | $ 57761 | $ 20098
payroll and benefits | 25115 | 15832
professional fees | 3848 | 4816
other | 4635 | 1315
total | $ 91359 | $ 42061
========================================
----
Follow-up: ['research and development contract costs $ 57761 $ 20098 payroll and benefits 25115 15832 professional fees 3848 4816 4635 1315 $ 91359 $ 42061 .'] | 0.63224 | VRTX/2006/page_112.pdf-3 | ['vertex pharmaceuticals incorporated notes to consolidated financial statements ( continued ) i .', 'altus investment ( continued ) of the offering , held 450000 shares of redeemable preferred stock , which are not convertible into common stock and which are redeemable for $ 10.00 per share plus annual dividends of $ 0.50 per share , which have been accruing since the redeemable preferred stock was issued in 1999 , at vertex 2019s option on or after december 31 , 2010 , or by altus at any time .', 'the company was restricted from trading altus securities for a period of six months following the initial public offering .', 'when the altus securities trading restrictions expired , the company sold the 817749 shares of altus common stock for approximately $ 11.7 million , resulting in a realized gain of approximately $ 7.7 million in august 2006 .', 'additionally when the restrictions expired , the company began accounting for the altus warrants as derivative instruments under the financial accounting standards board statement no .', 'fas 133 , 201caccounting for derivative instruments and hedging activities 201d ( 201cfas 133 201d ) .', 'in accordance with fas 133 , in the third quarter of 2006 , the company recorded the altus warrants on its consolidated balance sheet at a fair market value of $ 19.1 million and recorded an unrealized gain on the fair market value of the altus warrants of $ 4.3 million .', 'in the fourth quarter of 2006 the company sold the altus warrants for approximately $ 18.3 million , resulting in a realized loss of $ 0.7 million .', 'as a result of the company 2019s sales of altus common stock and altus warrrants in 2006 , the company recorded a realized gain on a sale of investment of $ 11.2 million .', 'in accordance with the company 2019s policy , as outlined in note b , 201caccounting policies , 201d the company assessed its investment in altus , which it accounts for using the cost method , and determined that there had not been any adjustments to the fair values of that investment that would require the company to write down the investment basis of the asset , in 2005 and 2006 .', 'the company 2019s cost basis carrying value in its outstanding equity and warrants of altus was $ 18.9 million at december 31 , 2005 .', 'j .', 'accrued expenses and other current liabilities accrued expenses and other current liabilities consist of the following at december 31 ( in thousands ) : k .', 'commitments the company leases its facilities and certain equipment under non-cancelable operating leases .', 'the company 2019s leases have terms through april 2018 .', 'the term of the kendall square lease began january 1 , 2003 and lease payments commenced in may 2003 .', 'the company had an obligation under the kendall square lease , staged through 2006 , to build-out the space into finished laboratory and office space .', 'this lease will expire in 2018 , and the company has the option to extend the term for two consecutive terms of ten years each , ultimately expiring in 2038 .', 'the company occupies and uses for its operations approximately 120000 square feet of the kendall square facility .', 'the company has sublease arrangements in place for the remaining rentable square footage of the kendall square facility , with initial terms that expires in april 2011 and august 2012 .', 'see note e , 201crestructuring 201d for further information. .'] | ['research and development contract costs $ 57761 $ 20098 payroll and benefits 25115 15832 professional fees 3848 4816 4635 1315 $ 91359 $ 42061 .'] | ========================================
| 2006 | 2005
----------|----------|----------
research and development contract costs | $ 57761 | $ 20098
payroll and benefits | 25115 | 15832
professional fees | 3848 | 4816
other | 4635 | 1315
total | $ 91359 | $ 42061
======================================== | divide(57761, 91359) | 0.63224 |
what percentage of the class b preferred stock is currently outstanding? | Context: ['abiomed , inc .', 'and subsidiaries notes to consolidated financial statements 2014 ( continued ) note 8 .', 'goodwill and in-process research and development ( continued ) the company has no accumulated impairment losses on goodwill .', 'the company performed a step 0 qualitative assessment during the annual impairment review for fiscal 2015 as of october 31 , 2014 and concluded that it is not more likely than not that the fair value of the company 2019s single reporting unit is less than its carrying amount .', 'therefore , the two-step goodwill impairment test for the reporting unit was not necessary in fiscal 2015 .', 'as described in note 3 .', '201cacquisitions , 201d in july 2014 , the company acquired ecp and ais and recorded $ 18.5 million of ipr&d .', 'the estimated fair value of the ipr&d was determined using a probability-weighted income approach , which discounts expected future cash flows to present value .', 'the projected cash flows from the expandable catheter pump technology were based on certain key assumptions , including estimates of future revenue and expenses , taking into account the stage of development of the technology at the acquisition date and the time and resources needed to complete development .', 'the company used a discount rate of 22.5% ( 22.5 % ) and cash flows that have been probability adjusted to reflect the risks of product commercialization , which the company believes are appropriate and representative of market participant assumptions .', 'the carrying value of the company 2019s ipr&d assets and the change in the balance for the year ended march 31 , 2015 is as follows : march 31 , ( in $ 000 2019s ) .']
----
Tabular Data:
========================================
Row 1: , march 31 2015 ( in $ 000 2019s )
Row 2: beginning balance, $ 2014
Row 3: additions, 18500
Row 4: foreign currency translation impact, -3789 ( 3789 )
Row 5: ending balance, $ 14711
========================================
----
Follow-up: ['note 9 .', 'stockholders 2019 equity class b preferred stock the company has authorized 1000000 shares of class b preferred stock , $ .01 par value , of which the board of directors can set the designation , rights and privileges .', 'no shares of class b preferred stock have been issued or are outstanding .', 'stock repurchase program in november 2012 , the company 2019s board of directors authorized a stock repurchase program for up to $ 15.0 million of its common stock .', 'the company financed the stock repurchase program with its available cash .', 'during the year ended march 31 , 2013 , the company repurchased 1123587 shares for $ 15.0 million in open market purchases at an average cost of $ 13.39 per share , including commission expense .', 'the company completed the purchase of common stock under this stock repurchase program in january 2013 .', 'note 10 .', 'stock award plans and stock-based compensation stock award plans the company grants stock options and restricted stock awards to employees and others .', 'all outstanding stock options of the company as of march 31 , 2015 were granted with an exercise price equal to the fair market value on the date of grant .', 'outstanding stock options , if not exercised , expire 10 years from the date of grant .', 'the company 2019s 2008 stock incentive plan ( the 201cplan 201d ) authorizes the grant of a variety of equity awards to the company 2019s officers , directors , employees , consultants and advisers , including awards of unrestricted and restricted stock , restricted stock units , incentive and nonqualified stock options to purchase shares of common stock , performance share awards and stock appreciation rights .', 'the plan provides that options may only be granted at the current market value on the date of grant .', 'each share of stock issued pursuant to a stock option or stock appreciation right counts as one share against the maximum number of shares issuable under the plan , while each share of stock issued .'] | 0.0 | ABMD/2015/page_93.pdf-1 | ['abiomed , inc .', 'and subsidiaries notes to consolidated financial statements 2014 ( continued ) note 8 .', 'goodwill and in-process research and development ( continued ) the company has no accumulated impairment losses on goodwill .', 'the company performed a step 0 qualitative assessment during the annual impairment review for fiscal 2015 as of october 31 , 2014 and concluded that it is not more likely than not that the fair value of the company 2019s single reporting unit is less than its carrying amount .', 'therefore , the two-step goodwill impairment test for the reporting unit was not necessary in fiscal 2015 .', 'as described in note 3 .', '201cacquisitions , 201d in july 2014 , the company acquired ecp and ais and recorded $ 18.5 million of ipr&d .', 'the estimated fair value of the ipr&d was determined using a probability-weighted income approach , which discounts expected future cash flows to present value .', 'the projected cash flows from the expandable catheter pump technology were based on certain key assumptions , including estimates of future revenue and expenses , taking into account the stage of development of the technology at the acquisition date and the time and resources needed to complete development .', 'the company used a discount rate of 22.5% ( 22.5 % ) and cash flows that have been probability adjusted to reflect the risks of product commercialization , which the company believes are appropriate and representative of market participant assumptions .', 'the carrying value of the company 2019s ipr&d assets and the change in the balance for the year ended march 31 , 2015 is as follows : march 31 , ( in $ 000 2019s ) .'] | ['note 9 .', 'stockholders 2019 equity class b preferred stock the company has authorized 1000000 shares of class b preferred stock , $ .01 par value , of which the board of directors can set the designation , rights and privileges .', 'no shares of class b preferred stock have been issued or are outstanding .', 'stock repurchase program in november 2012 , the company 2019s board of directors authorized a stock repurchase program for up to $ 15.0 million of its common stock .', 'the company financed the stock repurchase program with its available cash .', 'during the year ended march 31 , 2013 , the company repurchased 1123587 shares for $ 15.0 million in open market purchases at an average cost of $ 13.39 per share , including commission expense .', 'the company completed the purchase of common stock under this stock repurchase program in january 2013 .', 'note 10 .', 'stock award plans and stock-based compensation stock award plans the company grants stock options and restricted stock awards to employees and others .', 'all outstanding stock options of the company as of march 31 , 2015 were granted with an exercise price equal to the fair market value on the date of grant .', 'outstanding stock options , if not exercised , expire 10 years from the date of grant .', 'the company 2019s 2008 stock incentive plan ( the 201cplan 201d ) authorizes the grant of a variety of equity awards to the company 2019s officers , directors , employees , consultants and advisers , including awards of unrestricted and restricted stock , restricted stock units , incentive and nonqualified stock options to purchase shares of common stock , performance share awards and stock appreciation rights .', 'the plan provides that options may only be granted at the current market value on the date of grant .', 'each share of stock issued pursuant to a stock option or stock appreciation right counts as one share against the maximum number of shares issuable under the plan , while each share of stock issued .'] | ========================================
Row 1: , march 31 2015 ( in $ 000 2019s )
Row 2: beginning balance, $ 2014
Row 3: additions, 18500
Row 4: foreign currency translation impact, -3789 ( 3789 )
Row 5: ending balance, $ 14711
======================================== | divide(0, 1000000) | 0.0 |
percent change in fair value of beginning assets in this time period? | Pre-text: ['zimmer biomet holdings , inc .', 'and subsidiaries 2017 form 10-k annual report notes to consolidated financial statements ( continued ) the following table provides a reconciliation of the beginning and ending balances of our foreign pension plan assets measured at fair value that used significant unobservable inputs ( level 3 ) ( in millions ) : .']
Data Table:
****************************************
• , december 31 2017
• beginning balance, $ 78.7
• gains on assets sold, 0.3
• change in fair value of assets, 3.8
• net purchases and sales, 5.2
• translation gain, 3.0
• ending balance, $ 91.0
****************************************
Additional Information: ['we expect that we will have no legally required minimum funding requirements in 2018 for the qualified u.s .', 'and puerto rico defined benefit retirement plans , nor do we expect to voluntarily contribute to these plans during 2018 .', 'contributions to foreign defined benefit plans are estimated to be $ 17.0 million in 2018 .', 'we do not expect the assets in any of our plans to be returned to us in the next year .', 'defined contribution plans we also sponsor defined contribution plans for substantially all of the u.s .', 'and puerto rico employees and certain employees in other countries .', 'the benefits offered under these plans are reflective of local customs and practices in the countries concerned .', 'we expensed $ 47.9 million , $ 42.5 million and $ 40.2 million related to these plans for the years ended december 31 , 2017 , 2016 and 2015 , respectively .', '15 .', 'income taxes 2017 tax act : the president signed u.s .', 'tax reform legislation ( 201c2017 tax act 201d ) on december 22 , 2017 , which is considered the enactment date .', 'the 2017 tax act includes a broad range of provisions , many of which significantly differ from those contained in previous u.s .', 'tax law .', 'changes in tax law are accounted for in the period of enactment .', 'as such , our 2017 consolidated financial statements reflect the immediate tax effect of the 2017 tax act .', 'the 2017 tax act contains several key provisions including , among other things : 2022 a one-time tax on the mandatory deemed repatriation of post-1986 untaxed foreign earnings and profits ( e&p ) , referred to as the toll charge ; 2022 a reduction in the corporate income tax rate from 35 percent to 21 percent for tax years beginning after december 31 , 2022 the introduction of a new u.s .', 'tax on certain off-shore earnings referred to as global intangible low-taxed income ( gilti ) at an effective tax rate of 10.5 percent for tax years beginning after december 31 , 2017 ( increasing to 13.125 percent for tax years beginning after december 31 , 2025 ) , with a partial offset by foreign tax credits ; and 2022 the introduction of a territorial tax system beginning in 2018 by providing a 100 percent dividend received deduction on certain qualified dividends from foreign subsidiaries .', 'during the fourth quarter of 2017 , we recorded an income tax benefit of $ 1272.4 million , which was comprised of the following : 2022 income tax benefit of $ 715.0 million for the one-time deemed repatriation of foreign earnings .', 'this is composed of a $ 1181.0 million benefit from the removal of a deferred tax liability we had recorded for the repatriation of foreign earnings prior to the 2017 tax act offset by $ 466.0 million for the toll charge recognized under the 2017 tax act .', 'in accordance with the 2017 tax act , we expect to elect to pay the toll charge in installments over eight years .', 'as of december 31 , 2017 , we have recorded current and non-current income tax liabilities related to the toll charge of $ 82.0 million and $ 384.0 million , respectively .', '2022 an income tax benefit of $ 557.4 million , primarily related to the remeasurement of our deferred tax assets and liabilities at the enacted corporate income tax rate of 21 percent .', 'the net benefit recorded was based on currently available information and interpretations made in applying the provisions of the 2017 tax act as of the time of filing this annual report on form 10-k .', 'we further refined our estimates related to the impact of the 2017 tax act subsequent to the issuance of our earnings release for the fourth quarter of 2017 .', 'in accordance with authoritative guidance issued by the sec , the income tax effect for certain aspects of the 2017 tax act represent provisional amounts for which our accounting is incomplete , but with respect to which a reasonable estimate could be determined and recorded during the fourth quarter of 2017 .', 'the actual effects of the 2017 tax act and final amounts recorded may differ materially from our current estimate of provisional amounts due to , among other things , further interpretive guidance that may be issued by u.s .', 'tax authorities or regulatory bodies , including the sec and the fasb .', 'we will continue to analyze the 2017 tax act and any additional guidance that may be issued so we can finalize the full effects of applying the new legislation on our financial statements in the measurement period , which ends in the fourth quarter of 2018 .', 'we continue to evaluate the impacts of the 2017 tax act and consider the amounts recorded to be provisional .', 'in addition , we are still evaluating the gilti provisions of the 2017 tax act and their impact , if any , on our consolidated financial statements as of december 31 , 2017 .', 'the fasb allows companies to adopt an accounting policy to either recognize deferred taxes for gilti or treat such as a tax cost in the year incurred .', 'we have not yet determined which accounting policy to adopt because determining the impact of the gilti provisions requires analysis of our existing legal entity structure , the reversal of our u.s .', 'gaap and u.s .', 'tax basis differences in the assets and liabilities of our foreign subsidiaries , and our ability to offset any tax with foreign tax credits .', 'as such , we did not record a deferred income tax .'] | 0.04828 | ZBH/2017/page_71.pdf-3 | ['zimmer biomet holdings , inc .', 'and subsidiaries 2017 form 10-k annual report notes to consolidated financial statements ( continued ) the following table provides a reconciliation of the beginning and ending balances of our foreign pension plan assets measured at fair value that used significant unobservable inputs ( level 3 ) ( in millions ) : .'] | ['we expect that we will have no legally required minimum funding requirements in 2018 for the qualified u.s .', 'and puerto rico defined benefit retirement plans , nor do we expect to voluntarily contribute to these plans during 2018 .', 'contributions to foreign defined benefit plans are estimated to be $ 17.0 million in 2018 .', 'we do not expect the assets in any of our plans to be returned to us in the next year .', 'defined contribution plans we also sponsor defined contribution plans for substantially all of the u.s .', 'and puerto rico employees and certain employees in other countries .', 'the benefits offered under these plans are reflective of local customs and practices in the countries concerned .', 'we expensed $ 47.9 million , $ 42.5 million and $ 40.2 million related to these plans for the years ended december 31 , 2017 , 2016 and 2015 , respectively .', '15 .', 'income taxes 2017 tax act : the president signed u.s .', 'tax reform legislation ( 201c2017 tax act 201d ) on december 22 , 2017 , which is considered the enactment date .', 'the 2017 tax act includes a broad range of provisions , many of which significantly differ from those contained in previous u.s .', 'tax law .', 'changes in tax law are accounted for in the period of enactment .', 'as such , our 2017 consolidated financial statements reflect the immediate tax effect of the 2017 tax act .', 'the 2017 tax act contains several key provisions including , among other things : 2022 a one-time tax on the mandatory deemed repatriation of post-1986 untaxed foreign earnings and profits ( e&p ) , referred to as the toll charge ; 2022 a reduction in the corporate income tax rate from 35 percent to 21 percent for tax years beginning after december 31 , 2022 the introduction of a new u.s .', 'tax on certain off-shore earnings referred to as global intangible low-taxed income ( gilti ) at an effective tax rate of 10.5 percent for tax years beginning after december 31 , 2017 ( increasing to 13.125 percent for tax years beginning after december 31 , 2025 ) , with a partial offset by foreign tax credits ; and 2022 the introduction of a territorial tax system beginning in 2018 by providing a 100 percent dividend received deduction on certain qualified dividends from foreign subsidiaries .', 'during the fourth quarter of 2017 , we recorded an income tax benefit of $ 1272.4 million , which was comprised of the following : 2022 income tax benefit of $ 715.0 million for the one-time deemed repatriation of foreign earnings .', 'this is composed of a $ 1181.0 million benefit from the removal of a deferred tax liability we had recorded for the repatriation of foreign earnings prior to the 2017 tax act offset by $ 466.0 million for the toll charge recognized under the 2017 tax act .', 'in accordance with the 2017 tax act , we expect to elect to pay the toll charge in installments over eight years .', 'as of december 31 , 2017 , we have recorded current and non-current income tax liabilities related to the toll charge of $ 82.0 million and $ 384.0 million , respectively .', '2022 an income tax benefit of $ 557.4 million , primarily related to the remeasurement of our deferred tax assets and liabilities at the enacted corporate income tax rate of 21 percent .', 'the net benefit recorded was based on currently available information and interpretations made in applying the provisions of the 2017 tax act as of the time of filing this annual report on form 10-k .', 'we further refined our estimates related to the impact of the 2017 tax act subsequent to the issuance of our earnings release for the fourth quarter of 2017 .', 'in accordance with authoritative guidance issued by the sec , the income tax effect for certain aspects of the 2017 tax act represent provisional amounts for which our accounting is incomplete , but with respect to which a reasonable estimate could be determined and recorded during the fourth quarter of 2017 .', 'the actual effects of the 2017 tax act and final amounts recorded may differ materially from our current estimate of provisional amounts due to , among other things , further interpretive guidance that may be issued by u.s .', 'tax authorities or regulatory bodies , including the sec and the fasb .', 'we will continue to analyze the 2017 tax act and any additional guidance that may be issued so we can finalize the full effects of applying the new legislation on our financial statements in the measurement period , which ends in the fourth quarter of 2018 .', 'we continue to evaluate the impacts of the 2017 tax act and consider the amounts recorded to be provisional .', 'in addition , we are still evaluating the gilti provisions of the 2017 tax act and their impact , if any , on our consolidated financial statements as of december 31 , 2017 .', 'the fasb allows companies to adopt an accounting policy to either recognize deferred taxes for gilti or treat such as a tax cost in the year incurred .', 'we have not yet determined which accounting policy to adopt because determining the impact of the gilti provisions requires analysis of our existing legal entity structure , the reversal of our u.s .', 'gaap and u.s .', 'tax basis differences in the assets and liabilities of our foreign subsidiaries , and our ability to offset any tax with foreign tax credits .', 'as such , we did not record a deferred income tax .'] | ****************************************
• , december 31 2017
• beginning balance, $ 78.7
• gains on assets sold, 0.3
• change in fair value of assets, 3.8
• net purchases and sales, 5.2
• translation gain, 3.0
• ending balance, $ 91.0
**************************************** | divide(3.8, 78.7) | 0.04828 |
what is the total amount of cash outflow used for shares repurchased during october 2007 , in millions? | Pre-text: ['page 19 of 94 responded to the request for information pursuant to section 104 ( e ) of cercla .', 'the usepa has initially estimated cleanup costs to be between $ 4 million and $ 5 million .', 'based on the information available to the company at the present time , the company does not believe that this matter will have a material adverse effect upon the liquidity , results of operations or financial condition of the company .', 'europe in january 2003 the german government passed legislation that imposed a mandatory deposit of 25 eurocents on all one-way packages containing beverages except milk , wine , fruit juices and certain alcoholic beverages .', 'ball packaging europe gmbh ( bpe ) , together with certain other plaintiffs , contested the enactment of the mandatory deposit for non-returnable containers based on the german packaging regulation ( verpackungsverordnung ) in federal and state administrative court .', 'all other proceedings have been terminated except for the determination of minimal court fees that are still outstanding in some cases , together with minimal ancillary legal fees .', 'the relevant industries , including bpe and its competitors , have successfully set up a germany-wide return system for one-way beverage containers , which has been operational since may 1 , 2006 , the date required under the deposit legislation .', 'item 4 .', 'submission of matters to a vote of security holders there were no matters submitted to the security holders during the fourth quarter of 2007 .', 'part ii item 5 .', 'market for the registrant 2019s common stock and related stockholder matters ball corporation common stock ( bll ) is traded on the new york stock exchange and the chicago stock exchange .', 'there were 5424 common shareholders of record on february 3 , 2008 .', 'common stock repurchases the following table summarizes the company 2019s repurchases of its common stock during the quarter ended december 31 , 2007 .', 'purchases of securities total number of shares purchased ( a ) average price paid per share total number of shares purchased as part of publicly announced plans or programs maximum number of shares that may yet be purchased under the plans or programs ( b ) .']
######
Tabular Data:
========================================
| total number of shares purchased ( a ) | average pricepaid per share | total number of shares purchased as part of publicly announced plans or programs | maximum number of shares that may yet be purchased under the plans or programs ( b )
october 1 to october 28 2007 | 705292 | $ 53.53 | 705292 | 4904824
october 29 to november 25 2007 | 431170 | $ 48.11 | 431170 | 4473654
november 26 to december 31 2007 | 8310 ( c ) | $ 44.99 | 8310 | 4465344
total | 1144772 | $ 51.42 | 1144772 |
========================================
######
Post-table: ['( a ) includes open market purchases and/or shares retained by the company to settle employee withholding tax liabilities .', '( b ) the company has an ongoing repurchase program for which shares are authorized for repurchase from time to time by ball 2019s board of directors .', "on january 23 , 2008 , ball's board of directors authorized the repurchase by the company of up to a total of 12 million shares of its common stock .", 'this repurchase authorization replaces all previous authorizations .', '( c ) does not include 675000 shares under a forward share repurchase agreement entered into in december 2007 and settled on january 7 , 2008 , for approximately $ 31 million .', 'also does not include shares to be acquired in 2008 under an accelerated share repurchase program entered into in december 2007 and funded on january 7 , 2008. .'] | 37.75428 | BLL/2007/page_35.pdf-1 | ['page 19 of 94 responded to the request for information pursuant to section 104 ( e ) of cercla .', 'the usepa has initially estimated cleanup costs to be between $ 4 million and $ 5 million .', 'based on the information available to the company at the present time , the company does not believe that this matter will have a material adverse effect upon the liquidity , results of operations or financial condition of the company .', 'europe in january 2003 the german government passed legislation that imposed a mandatory deposit of 25 eurocents on all one-way packages containing beverages except milk , wine , fruit juices and certain alcoholic beverages .', 'ball packaging europe gmbh ( bpe ) , together with certain other plaintiffs , contested the enactment of the mandatory deposit for non-returnable containers based on the german packaging regulation ( verpackungsverordnung ) in federal and state administrative court .', 'all other proceedings have been terminated except for the determination of minimal court fees that are still outstanding in some cases , together with minimal ancillary legal fees .', 'the relevant industries , including bpe and its competitors , have successfully set up a germany-wide return system for one-way beverage containers , which has been operational since may 1 , 2006 , the date required under the deposit legislation .', 'item 4 .', 'submission of matters to a vote of security holders there were no matters submitted to the security holders during the fourth quarter of 2007 .', 'part ii item 5 .', 'market for the registrant 2019s common stock and related stockholder matters ball corporation common stock ( bll ) is traded on the new york stock exchange and the chicago stock exchange .', 'there were 5424 common shareholders of record on february 3 , 2008 .', 'common stock repurchases the following table summarizes the company 2019s repurchases of its common stock during the quarter ended december 31 , 2007 .', 'purchases of securities total number of shares purchased ( a ) average price paid per share total number of shares purchased as part of publicly announced plans or programs maximum number of shares that may yet be purchased under the plans or programs ( b ) .'] | ['( a ) includes open market purchases and/or shares retained by the company to settle employee withholding tax liabilities .', '( b ) the company has an ongoing repurchase program for which shares are authorized for repurchase from time to time by ball 2019s board of directors .', "on january 23 , 2008 , ball's board of directors authorized the repurchase by the company of up to a total of 12 million shares of its common stock .", 'this repurchase authorization replaces all previous authorizations .', '( c ) does not include 675000 shares under a forward share repurchase agreement entered into in december 2007 and settled on january 7 , 2008 , for approximately $ 31 million .', 'also does not include shares to be acquired in 2008 under an accelerated share repurchase program entered into in december 2007 and funded on january 7 , 2008. .'] | ========================================
| total number of shares purchased ( a ) | average pricepaid per share | total number of shares purchased as part of publicly announced plans or programs | maximum number of shares that may yet be purchased under the plans or programs ( b )
october 1 to october 28 2007 | 705292 | $ 53.53 | 705292 | 4904824
october 29 to november 25 2007 | 431170 | $ 48.11 | 431170 | 4473654
november 26 to december 31 2007 | 8310 ( c ) | $ 44.99 | 8310 | 4465344
total | 1144772 | $ 51.42 | 1144772 |
======================================== | multiply(705292, 53.53), divide(#0, const_1000000) | 37.75428 |
in 2013 what was the percentage change in the nonvested rsus | Context: ['note 12 2013 stock-based compensation during 2013 , 2012 , and 2011 , we recorded non-cash stock-based compensation expense totaling $ 189 million , $ 167 million , and $ 157 million , which is included as a component of other unallocated costs on our statements of earnings .', 'the net impact to earnings for the respective years was $ 122 million , $ 108 million , and $ 101 million .', 'as of december 31 , 2013 , we had $ 132 million of unrecognized compensation cost related to nonvested awards , which is expected to be recognized over a weighted average period of 1.5 years .', 'we received cash from the exercise of stock options totaling $ 827 million , $ 440 million , and $ 116 million during 2013 , 2012 , and 2011 .', 'in addition , our income tax liabilities for 2013 , 2012 , and 2011 were reduced by $ 158 million , $ 96 million , and $ 56 million due to recognized tax benefits on stock-based compensation arrangements .', 'stock-based compensation plans under plans approved by our stockholders , we are authorized to grant key employees stock-based incentive awards , including options to purchase common stock , stock appreciation rights , restricted stock units ( rsus ) , performance stock units ( psus ) , or other stock units .', 'the exercise price of options to purchase common stock may not be less than the fair market value of our stock on the date of grant .', 'no award of stock options may become fully vested prior to the third anniversary of the grant , and no portion of a stock option grant may become vested in less than one year .', 'the minimum vesting period for restricted stock or stock units payable in stock is three years .', 'award agreements may provide for shorter or pro-rated vesting periods or vesting following termination of employment in the case of death , disability , divestiture , retirement , change of control , or layoff .', 'the maximum term of a stock option or any other award is 10 years .', 'at december 31 , 2013 , inclusive of the shares reserved for outstanding stock options , rsus and psus , we had 20.4 million shares reserved for issuance under the plans .', 'at december 31 , 2013 , 4.7 million of the shares reserved for issuance remained available for grant under our stock-based compensation plans .', 'we issue new shares upon the exercise of stock options or when restrictions on rsus and psus have been satisfied .', 'the following table summarizes activity related to nonvested rsus during 2013 : number of rsus ( in thousands ) weighted average grant-date fair value per share .']
----
Data Table:
****************************************
• , number of rsus ( in thousands ), weighted average grant-date fair value pershare
• nonvested at december 31 2012, 4822, $ 79.10
• granted, 1356, 89.24
• vested, -2093 ( 2093 ), 79.26
• forfeited, -226 ( 226 ), 81.74
• nonvested at december 31 2013, 3859, $ 82.42
****************************************
----
Post-table: ['rsus are valued based on the fair value of our common stock on the date of grant .', 'employees who are granted rsus receive the right to receive shares of stock after completion of the vesting period , however , the shares are not issued , and the employees cannot sell or transfer shares prior to vesting and have no voting rights until the rsus vest , generally three years from the date of the award .', 'employees who are granted rsus receive dividend-equivalent cash payments only upon vesting .', 'for these rsu awards , the grant-date fair value is equal to the closing market price of our common stock on the date of grant less a discount to reflect the delay in payment of dividend-equivalent cash payments .', 'we recognize the grant-date fair value of rsus , less estimated forfeitures , as compensation expense ratably over the requisite service period , which beginning with the rsus granted in 2013 is shorter than the vesting period if the employee is retirement eligible on the date of grant or will become retirement eligible before the end of the vesting period .', 'stock options we generally recognize compensation cost for stock options ratably over the three-year vesting period .', 'at december 31 , 2013 and 2012 , there were 10.2 million ( weighted average exercise price of $ 83.65 ) and 20.6 million ( weighted average exercise price of $ 83.15 ) stock options outstanding .', 'stock options outstanding at december 31 , 2013 have a weighted average remaining contractual life of approximately five years and an aggregate intrinsic value of $ 663 million , and we expect nearly all of these stock options to vest .', 'of the stock options outstanding , 7.7 million ( weighted average exercise price of $ 84.37 ) have vested as of december 31 , 2013 and those stock options have a weighted average remaining contractual life of approximately four years and an aggregate intrinsic value of $ 497 million .', 'there were 10.1 million ( weighted average exercise price of $ 82.72 ) stock options exercised during 2013 .', 'we did not grant stock options to employees during 2013. .'] | -0.19971 | LMT/2013/page_89.pdf-2 | ['note 12 2013 stock-based compensation during 2013 , 2012 , and 2011 , we recorded non-cash stock-based compensation expense totaling $ 189 million , $ 167 million , and $ 157 million , which is included as a component of other unallocated costs on our statements of earnings .', 'the net impact to earnings for the respective years was $ 122 million , $ 108 million , and $ 101 million .', 'as of december 31 , 2013 , we had $ 132 million of unrecognized compensation cost related to nonvested awards , which is expected to be recognized over a weighted average period of 1.5 years .', 'we received cash from the exercise of stock options totaling $ 827 million , $ 440 million , and $ 116 million during 2013 , 2012 , and 2011 .', 'in addition , our income tax liabilities for 2013 , 2012 , and 2011 were reduced by $ 158 million , $ 96 million , and $ 56 million due to recognized tax benefits on stock-based compensation arrangements .', 'stock-based compensation plans under plans approved by our stockholders , we are authorized to grant key employees stock-based incentive awards , including options to purchase common stock , stock appreciation rights , restricted stock units ( rsus ) , performance stock units ( psus ) , or other stock units .', 'the exercise price of options to purchase common stock may not be less than the fair market value of our stock on the date of grant .', 'no award of stock options may become fully vested prior to the third anniversary of the grant , and no portion of a stock option grant may become vested in less than one year .', 'the minimum vesting period for restricted stock or stock units payable in stock is three years .', 'award agreements may provide for shorter or pro-rated vesting periods or vesting following termination of employment in the case of death , disability , divestiture , retirement , change of control , or layoff .', 'the maximum term of a stock option or any other award is 10 years .', 'at december 31 , 2013 , inclusive of the shares reserved for outstanding stock options , rsus and psus , we had 20.4 million shares reserved for issuance under the plans .', 'at december 31 , 2013 , 4.7 million of the shares reserved for issuance remained available for grant under our stock-based compensation plans .', 'we issue new shares upon the exercise of stock options or when restrictions on rsus and psus have been satisfied .', 'the following table summarizes activity related to nonvested rsus during 2013 : number of rsus ( in thousands ) weighted average grant-date fair value per share .'] | ['rsus are valued based on the fair value of our common stock on the date of grant .', 'employees who are granted rsus receive the right to receive shares of stock after completion of the vesting period , however , the shares are not issued , and the employees cannot sell or transfer shares prior to vesting and have no voting rights until the rsus vest , generally three years from the date of the award .', 'employees who are granted rsus receive dividend-equivalent cash payments only upon vesting .', 'for these rsu awards , the grant-date fair value is equal to the closing market price of our common stock on the date of grant less a discount to reflect the delay in payment of dividend-equivalent cash payments .', 'we recognize the grant-date fair value of rsus , less estimated forfeitures , as compensation expense ratably over the requisite service period , which beginning with the rsus granted in 2013 is shorter than the vesting period if the employee is retirement eligible on the date of grant or will become retirement eligible before the end of the vesting period .', 'stock options we generally recognize compensation cost for stock options ratably over the three-year vesting period .', 'at december 31 , 2013 and 2012 , there were 10.2 million ( weighted average exercise price of $ 83.65 ) and 20.6 million ( weighted average exercise price of $ 83.15 ) stock options outstanding .', 'stock options outstanding at december 31 , 2013 have a weighted average remaining contractual life of approximately five years and an aggregate intrinsic value of $ 663 million , and we expect nearly all of these stock options to vest .', 'of the stock options outstanding , 7.7 million ( weighted average exercise price of $ 84.37 ) have vested as of december 31 , 2013 and those stock options have a weighted average remaining contractual life of approximately four years and an aggregate intrinsic value of $ 497 million .', 'there were 10.1 million ( weighted average exercise price of $ 82.72 ) stock options exercised during 2013 .', 'we did not grant stock options to employees during 2013. .'] | ****************************************
• , number of rsus ( in thousands ), weighted average grant-date fair value pershare
• nonvested at december 31 2012, 4822, $ 79.10
• granted, 1356, 89.24
• vested, -2093 ( 2093 ), 79.26
• forfeited, -226 ( 226 ), 81.74
• nonvested at december 31 2013, 3859, $ 82.42
**************************************** | subtract(3859, 4822), divide(#0, 4822) | -0.19971 |
what percentage of the 2016 ratings profile of derivative receivables had a rating equivalent for junk ratings? | Background: ['jpmorgan chase & co./2016 annual report 103 risk in the derivatives portfolio .', 'in addition , the firm 2019s risk management process takes into consideration the potential impact of wrong-way risk , which is broadly defined as the potential for increased correlation between the firm 2019s exposure to a counterparty ( avg ) and the counterparty 2019s credit quality .', 'many factors may influence the nature and magnitude of these correlations over time .', 'to the extent that these correlations are identified , the firm may adjust the cva associated with that counterparty 2019s avg .', 'the firm risk manages exposure to changes in cva by entering into credit derivative transactions , as well as interest rate , foreign exchange , equity and commodity derivative transactions .', 'the accompanying graph shows exposure profiles to the firm 2019s current derivatives portfolio over the next 10 years as calculated by the peak , dre and avg metrics .', 'the three measures generally show that exposure will decline after the first year , if no new trades are added to the portfolio .', 'exposure profile of derivatives measures december 31 , 2016 ( in billions ) the following table summarizes the ratings profile by derivative counterparty of the firm 2019s derivative receivables , including credit derivatives , net of all collateral , at the dates indicated .', 'the ratings scale is based on the firm 2019s internal ratings , which generally correspond to the ratings as defined by s&p and moody 2019s .', 'ratings profile of derivative receivables rating equivalent 2016 2015 ( a ) december 31 , ( in millions , except ratios ) exposure net of all collateral % ( % ) of exposure net of all collateral exposure net of all collateral % ( % ) of exposure net of all collateral .']
----
Table:
========================================
• rating equivalent december 31 ( in millions except ratios ), rating equivalent exposure net of all collateral, rating equivalent % ( % ) of exposure netof all collateral, exposure net of all collateral, % ( % ) of exposure netof all collateral
• aaa/aaa to aa-/aa3, $ 11449, 28% ( 28 % ), $ 10371, 24% ( 24 % )
• a+/a1 to a-/a3, 8505, 20, 10595, 25
• bbb+/baa1 to bbb-/baa3, 13127, 32, 13807, 32
• bb+/ba1 to b-/b3, 7308, 18, 7500, 17
• ccc+/caa1 and below, 984, 2, 824, 2
• total, $ 41373, 100% ( 100 % ), $ 43097, 100% ( 100 % )
========================================
----
Additional Information: ['( a ) prior period amounts have been revised to conform with the current period presentation .', 'as previously noted , the firm uses collateral agreements to mitigate counterparty credit risk .', 'the percentage of the firm 2019s derivatives transactions subject to collateral agreements 2014 excluding foreign exchange spot trades , which are not typically covered by collateral agreements due to their short maturity 2014 was 90% ( 90 % ) as of december 31 , 2016 , largely unchanged compared with 87% ( 87 % ) as of december 31 , 2015 .', 'credit derivatives the firm uses credit derivatives for two primary purposes : first , in its capacity as a market-maker , and second , as an end-user to manage the firm 2019s own credit risk associated with various exposures .', 'for a detailed description of credit derivatives , see credit derivatives in note 6 .', 'credit portfolio management activities included in the firm 2019s end-user activities are credit derivatives used to mitigate the credit risk associated with traditional lending activities ( loans and unfunded commitments ) and derivatives counterparty exposure in the firm 2019s wholesale businesses ( collectively , 201ccredit portfolio management 201d activities ) .', 'information on credit portfolio management activities is provided in the table below .', 'for further information on derivatives used in credit portfolio management activities , see credit derivatives in note 6 .', 'the firm also uses credit derivatives as an end-user to manage other exposures , including credit risk arising from certain securities held in the firm 2019s market-making businesses .', 'these credit derivatives are not included in credit portfolio management activities ; for further information on these credit derivatives as well as credit derivatives used in the firm 2019s capacity as a market-maker in credit derivatives , see credit derivatives in note 6. .'] | 20.0 | JPM/2016/page_141.pdf-3 | ['jpmorgan chase & co./2016 annual report 103 risk in the derivatives portfolio .', 'in addition , the firm 2019s risk management process takes into consideration the potential impact of wrong-way risk , which is broadly defined as the potential for increased correlation between the firm 2019s exposure to a counterparty ( avg ) and the counterparty 2019s credit quality .', 'many factors may influence the nature and magnitude of these correlations over time .', 'to the extent that these correlations are identified , the firm may adjust the cva associated with that counterparty 2019s avg .', 'the firm risk manages exposure to changes in cva by entering into credit derivative transactions , as well as interest rate , foreign exchange , equity and commodity derivative transactions .', 'the accompanying graph shows exposure profiles to the firm 2019s current derivatives portfolio over the next 10 years as calculated by the peak , dre and avg metrics .', 'the three measures generally show that exposure will decline after the first year , if no new trades are added to the portfolio .', 'exposure profile of derivatives measures december 31 , 2016 ( in billions ) the following table summarizes the ratings profile by derivative counterparty of the firm 2019s derivative receivables , including credit derivatives , net of all collateral , at the dates indicated .', 'the ratings scale is based on the firm 2019s internal ratings , which generally correspond to the ratings as defined by s&p and moody 2019s .', 'ratings profile of derivative receivables rating equivalent 2016 2015 ( a ) december 31 , ( in millions , except ratios ) exposure net of all collateral % ( % ) of exposure net of all collateral exposure net of all collateral % ( % ) of exposure net of all collateral .'] | ['( a ) prior period amounts have been revised to conform with the current period presentation .', 'as previously noted , the firm uses collateral agreements to mitigate counterparty credit risk .', 'the percentage of the firm 2019s derivatives transactions subject to collateral agreements 2014 excluding foreign exchange spot trades , which are not typically covered by collateral agreements due to their short maturity 2014 was 90% ( 90 % ) as of december 31 , 2016 , largely unchanged compared with 87% ( 87 % ) as of december 31 , 2015 .', 'credit derivatives the firm uses credit derivatives for two primary purposes : first , in its capacity as a market-maker , and second , as an end-user to manage the firm 2019s own credit risk associated with various exposures .', 'for a detailed description of credit derivatives , see credit derivatives in note 6 .', 'credit portfolio management activities included in the firm 2019s end-user activities are credit derivatives used to mitigate the credit risk associated with traditional lending activities ( loans and unfunded commitments ) and derivatives counterparty exposure in the firm 2019s wholesale businesses ( collectively , 201ccredit portfolio management 201d activities ) .', 'information on credit portfolio management activities is provided in the table below .', 'for further information on derivatives used in credit portfolio management activities , see credit derivatives in note 6 .', 'the firm also uses credit derivatives as an end-user to manage other exposures , including credit risk arising from certain securities held in the firm 2019s market-making businesses .', 'these credit derivatives are not included in credit portfolio management activities ; for further information on these credit derivatives as well as credit derivatives used in the firm 2019s capacity as a market-maker in credit derivatives , see credit derivatives in note 6. .'] | ========================================
• rating equivalent december 31 ( in millions except ratios ), rating equivalent exposure net of all collateral, rating equivalent % ( % ) of exposure netof all collateral, exposure net of all collateral, % ( % ) of exposure netof all collateral
• aaa/aaa to aa-/aa3, $ 11449, 28% ( 28 % ), $ 10371, 24% ( 24 % )
• a+/a1 to a-/a3, 8505, 20, 10595, 25
• bbb+/baa1 to bbb-/baa3, 13127, 32, 13807, 32
• bb+/ba1 to b-/b3, 7308, 18, 7500, 17
• ccc+/caa1 and below, 984, 2, 824, 2
• total, $ 41373, 100% ( 100 % ), $ 43097, 100% ( 100 % )
======================================== | add(18, 2) | 20.0 |
in 2007 what was the reported debt to the assets ratio | Background: ['notes to consolidated financial statements jpmorgan chase & co .', '150 jpmorgan chase & co .', '/ 2007 annual report expected loss modeling in 2006 , the firm restructured four multi-seller conduits that it administers .', 'the restructurings included enhancing the firm 2019s expected loss model .', 'in determining the primary beneficiary of the conduits it administers , the firm uses a monte carlo 2013based model to estimate the expected losses of each of the conduits and considers the rela- tive rights and obligations of each of the variable interest holders .', 'the variability to be considered in the modeling of expected losses is based on the design of the entity .', 'the firm 2019s traditional multi-seller conduits are designed to pass credit risk , not liquidity risk , to its vari- able interest holders , as the assets are intended to be held in the conduit for the longer term .', 'under fin 46r , the firm is required to run the monte carlo-based expected loss model each time a reconsideration event occurs .', 'in applying this guidance to the conduits , the following events are considered to be reconsideration events as they could affect the determination of the primary beneficiary of the conduits : 2022 new deals , including the issuance of new or additional variable interests ( credit support , liquidity facilities , etc ) ; 2022 changes in usage , including the change in the level of outstand- ing variable interests ( credit support , liquidity facilities , etc ) ; 2022 modifications of asset purchase agreements ; and 2022 sales of interests held by the primary beneficiary .', 'from an operational perspective , the firm does not run its monte carlo-based expected loss model every time there is a reconsidera- tion event due to the frequency of their occurrence .', 'instead , the firm runs its expected loss model each quarter and includes a growth assumption for each conduit to ensure that a sufficient amount of elns exists for each conduit at any point during the quarter .', 'as part of its normal quarterly model review , the firm reassesses the underlying assumptions and inputs of the expected loss model .', 'during the second half of 2007 , certain assumptions used in the model were adjusted to reflect the then current market conditions .', 'specifically , risk ratings and loss given default assumptions relating to residential subprime mortgage exposures were modified .', 'for other nonmortgage-related asset classes , the firm determined that the assumptions in the model required little adjustment .', 'as a result of the updates to the model , during the fourth quarter of 2007 the terms of the elns were renegotiated to increase the level of commit- ment and funded amounts to be provided by the eln holders .', 'the total amount of expected loss notes outstanding at december 31 , 2007 and 2006 , were $ 130 million and $ 54 million , respectively .', 'management concluded that the model assumptions used were reflective of market participant 2019s assumptions and appropriately considered the probability of a recurrence of recent market events .', 'qualitative considerations the multi-seller conduits are primarily designed to provide an efficient means for clients to access the commercial paper market .', 'the firm believes the conduits effectively disperse risk among all parties and that the preponderance of economic risk in the firm 2019s multi-seller conduits is not held by jpmorgan chase .', 'the percentage of assets in the multi-seller conduits that the firm views as client-related represent 99% ( 99 % ) and 98% ( 98 % ) of the total conduits 2019 holdings at december 31 , 2007 and 2006 , respectively .', 'consolidated sensitivity analysis on capital it is possible that the firm could be required to consolidate a vie if it were determined that the firm became the primary beneficiary of the vie under the provisions of fin 46r .', 'the factors involved in making the determination of whether or not a vie should be consolidated are dis- cussed above and in note 1 on page 108 of this annual report .', 'the table below shows the impact on the firm 2019s reported assets , liabilities , net income , tier 1 capital ratio and tier 1 leverage ratio if the firm were required to consolidate all of the multi-seller conduits that it administers .', 'as of or for the year ending december 31 , 2007 .']
Data Table:
****************************************
• ( in billions except ratios ), reported, pro forma
• assets, $ 1562.1, $ 1623.9
• liabilities, 1438.9, 1500.9
• net income, 15.4, 15.2
• tier 1 capital ratio, 8.4% ( 8.4 % ), 8.4% ( 8.4 % )
• tier 1 leverage ratio, 6.0, 5.8
****************************************
Additional Information: ['the firm could fund purchases of assets from vies should it become necessary .', 'investor intermediation as a financial intermediary , the firm creates certain types of vies and also structures transactions , typically derivative structures , with these vies to meet investor needs .', 'the firm may also provide liquidity and other support .', 'the risks inherent in the derivative instruments or liq- uidity commitments are managed similarly to other credit , market or liquidity risks to which the firm is exposed .', 'the principal types of vies for which the firm is engaged in these structuring activities are municipal bond vehicles , credit-linked note vehicles and collateralized debt obligation vehicles .', 'municipal bond vehicles the firm has created a series of secondary market trusts that provide short-term investors with qualifying tax-exempt investments , and that allow investors in tax-exempt securities to finance their investments at short-term tax-exempt rates .', 'in a typical transaction , the vehicle pur- chases fixed-rate longer-term highly rated municipal bonds and funds the purchase by issuing two types of securities : ( 1 ) putable floating- rate certificates and ( 2 ) inverse floating-rate residual interests ( 201cresid- ual interests 201d ) .', 'the maturity of each of the putable floating-rate certifi- cates and the residual interests is equal to the life of the vehicle , while the maturity of the underlying municipal bonds is longer .', 'holders of the putable floating-rate certificates may 201cput 201d , or tender , the certifi- cates if the remarketing agent cannot successfully remarket the float- ing-rate certificates to another investor .', 'a liquidity facility conditionally obligates the liquidity provider to fund the purchase of the tendered floating-rate certificates .', 'upon termination of the vehicle , if the pro- ceeds from the sale of the underlying municipal bonds are not suffi- cient to repay the liquidity facility , the liquidity provider has recourse either to excess collateralization in the vehicle or the residual interest holders for reimbursement .', 'the third-party holders of the residual interests in these vehicles could experience losses if the face amount of the putable floating-rate cer- tificates exceeds the market value of the municipal bonds upon termi- nation of the vehicle .', 'certain vehicles require a smaller initial invest- ment by the residual interest holders and thus do not result in excess collateralization .', 'for these vehicles there exists a reimbursement obli- .'] | 0.92113 | JPM/2007/page_152.pdf-1 | ['notes to consolidated financial statements jpmorgan chase & co .', '150 jpmorgan chase & co .', '/ 2007 annual report expected loss modeling in 2006 , the firm restructured four multi-seller conduits that it administers .', 'the restructurings included enhancing the firm 2019s expected loss model .', 'in determining the primary beneficiary of the conduits it administers , the firm uses a monte carlo 2013based model to estimate the expected losses of each of the conduits and considers the rela- tive rights and obligations of each of the variable interest holders .', 'the variability to be considered in the modeling of expected losses is based on the design of the entity .', 'the firm 2019s traditional multi-seller conduits are designed to pass credit risk , not liquidity risk , to its vari- able interest holders , as the assets are intended to be held in the conduit for the longer term .', 'under fin 46r , the firm is required to run the monte carlo-based expected loss model each time a reconsideration event occurs .', 'in applying this guidance to the conduits , the following events are considered to be reconsideration events as they could affect the determination of the primary beneficiary of the conduits : 2022 new deals , including the issuance of new or additional variable interests ( credit support , liquidity facilities , etc ) ; 2022 changes in usage , including the change in the level of outstand- ing variable interests ( credit support , liquidity facilities , etc ) ; 2022 modifications of asset purchase agreements ; and 2022 sales of interests held by the primary beneficiary .', 'from an operational perspective , the firm does not run its monte carlo-based expected loss model every time there is a reconsidera- tion event due to the frequency of their occurrence .', 'instead , the firm runs its expected loss model each quarter and includes a growth assumption for each conduit to ensure that a sufficient amount of elns exists for each conduit at any point during the quarter .', 'as part of its normal quarterly model review , the firm reassesses the underlying assumptions and inputs of the expected loss model .', 'during the second half of 2007 , certain assumptions used in the model were adjusted to reflect the then current market conditions .', 'specifically , risk ratings and loss given default assumptions relating to residential subprime mortgage exposures were modified .', 'for other nonmortgage-related asset classes , the firm determined that the assumptions in the model required little adjustment .', 'as a result of the updates to the model , during the fourth quarter of 2007 the terms of the elns were renegotiated to increase the level of commit- ment and funded amounts to be provided by the eln holders .', 'the total amount of expected loss notes outstanding at december 31 , 2007 and 2006 , were $ 130 million and $ 54 million , respectively .', 'management concluded that the model assumptions used were reflective of market participant 2019s assumptions and appropriately considered the probability of a recurrence of recent market events .', 'qualitative considerations the multi-seller conduits are primarily designed to provide an efficient means for clients to access the commercial paper market .', 'the firm believes the conduits effectively disperse risk among all parties and that the preponderance of economic risk in the firm 2019s multi-seller conduits is not held by jpmorgan chase .', 'the percentage of assets in the multi-seller conduits that the firm views as client-related represent 99% ( 99 % ) and 98% ( 98 % ) of the total conduits 2019 holdings at december 31 , 2007 and 2006 , respectively .', 'consolidated sensitivity analysis on capital it is possible that the firm could be required to consolidate a vie if it were determined that the firm became the primary beneficiary of the vie under the provisions of fin 46r .', 'the factors involved in making the determination of whether or not a vie should be consolidated are dis- cussed above and in note 1 on page 108 of this annual report .', 'the table below shows the impact on the firm 2019s reported assets , liabilities , net income , tier 1 capital ratio and tier 1 leverage ratio if the firm were required to consolidate all of the multi-seller conduits that it administers .', 'as of or for the year ending december 31 , 2007 .'] | ['the firm could fund purchases of assets from vies should it become necessary .', 'investor intermediation as a financial intermediary , the firm creates certain types of vies and also structures transactions , typically derivative structures , with these vies to meet investor needs .', 'the firm may also provide liquidity and other support .', 'the risks inherent in the derivative instruments or liq- uidity commitments are managed similarly to other credit , market or liquidity risks to which the firm is exposed .', 'the principal types of vies for which the firm is engaged in these structuring activities are municipal bond vehicles , credit-linked note vehicles and collateralized debt obligation vehicles .', 'municipal bond vehicles the firm has created a series of secondary market trusts that provide short-term investors with qualifying tax-exempt investments , and that allow investors in tax-exempt securities to finance their investments at short-term tax-exempt rates .', 'in a typical transaction , the vehicle pur- chases fixed-rate longer-term highly rated municipal bonds and funds the purchase by issuing two types of securities : ( 1 ) putable floating- rate certificates and ( 2 ) inverse floating-rate residual interests ( 201cresid- ual interests 201d ) .', 'the maturity of each of the putable floating-rate certifi- cates and the residual interests is equal to the life of the vehicle , while the maturity of the underlying municipal bonds is longer .', 'holders of the putable floating-rate certificates may 201cput 201d , or tender , the certifi- cates if the remarketing agent cannot successfully remarket the float- ing-rate certificates to another investor .', 'a liquidity facility conditionally obligates the liquidity provider to fund the purchase of the tendered floating-rate certificates .', 'upon termination of the vehicle , if the pro- ceeds from the sale of the underlying municipal bonds are not suffi- cient to repay the liquidity facility , the liquidity provider has recourse either to excess collateralization in the vehicle or the residual interest holders for reimbursement .', 'the third-party holders of the residual interests in these vehicles could experience losses if the face amount of the putable floating-rate cer- tificates exceeds the market value of the municipal bonds upon termi- nation of the vehicle .', 'certain vehicles require a smaller initial invest- ment by the residual interest holders and thus do not result in excess collateralization .', 'for these vehicles there exists a reimbursement obli- .'] | ****************************************
• ( in billions except ratios ), reported, pro forma
• assets, $ 1562.1, $ 1623.9
• liabilities, 1438.9, 1500.9
• net income, 15.4, 15.2
• tier 1 capital ratio, 8.4% ( 8.4 % ), 8.4% ( 8.4 % )
• tier 1 leverage ratio, 6.0, 5.8
**************************************** | divide(1438.9, 1562.1) | 0.92113 |
what is the total number of outstanding shares as of december 31 , 2005 according to pro-forma income , in millions? | Context: ['american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) sfas no .', '148 .', 'in accordance with apb no .', '25 , the company recognizes compensation expense based on the excess , if any , of the quoted stock price at the grant date of the award or other measurement date over the amount an employee must pay to acquire the stock .', 'the company 2019s stock option plans are more fully described in note 14 .', 'in december 2004 , the fasb issued sfas no .', '123 ( revised 2004 ) , 201cshare-based payment 201d ( sfas 123r ) , as further described below .', 'during the year ended december 31 , 2005 , the company reevaluated the assumptions used to estimate the fair value of stock options issued to employees .', 'as a result , the company lowered its expected volatility assumption for options granted after july 1 , 2005 to approximately 30% ( 30 % ) and increased the expected life of option grants to 6.25 years using the simplified method permitted by sec sab no .', '107 , 201dshare-based payment 201d ( sab no .', '107 ) .', 'the company made this change based on a number of factors , including the company 2019s execution of its strategic plans to sell non-core businesses , reduce leverage and refinance its debt , and its recent merger with spectrasite , inc .', '( see note 2. ) management had previously based its volatility assumptions on historical volatility since inception , which included periods when the company 2019s capital structure was more highly leveraged than current levels and expected levels for the foreseeable future .', 'management 2019s estimate of future volatility is based on its consideration of all available information , including historical volatility , implied volatility of publicly traded options , the company 2019s current capital structure and its publicly announced future business plans .', 'for comparative purposes , a 10% ( 10 % ) change in the volatility assumption would change pro forma stock option expense and pro forma net loss by approximately $ 0.1 million for the year ended december 31 , 2005 .', '( see note 14. ) the following table illustrates the effect on net loss and net loss per common share if the company had applied the fair value recognition provisions of sfas no .', '123 ( as amended ) to stock-based compensation .', 'the estimated fair value of each option is calculated using the black-scholes option-pricing model ( in thousands , except per share amounts ) : .']
--------
Tabular Data:
****************************************
2005 2004 2003
net loss as reported $ -171590 ( 171590 ) $ -247587 ( 247587 ) $ -325321 ( 325321 )
add : stock-based employee compensation expense net of related tax effect included in net loss as reported 7104 2297 2077
less : total stock-based employee compensation expense determined under fair value based method for all awards net of related taxeffect -22238 ( 22238 ) -23906 ( 23906 ) -31156 ( 31156 )
pro-forma net loss $ -186724 ( 186724 ) $ -269196 ( 269196 ) $ -354400 ( 354400 )
basic and diluted net loss per share as reported $ -0.57 ( 0.57 ) $ -1.10 ( 1.10 ) $ -1.56 ( 1.56 )
basic and diluted net loss per share pro-forma $ -0.62 ( 0.62 ) $ -1.20 ( 1.20 ) $ -1.70 ( 1.70 )
****************************************
--------
Follow-up: ['the company has modified certain option awards to revise vesting and exercise terms for certain terminated employees and recognized charges of $ 7.0 million , $ 3.0 million and $ 2.3 million for the years ended december 31 , 2005 , 2004 and 2003 , respectively .', 'in addition , the stock-based employee compensation amounts above for the year ended december 31 , 2005 , include approximately $ 2.4 million of unearned compensation amortization related to unvested stock options assumed in the merger with spectrasite , inc .', 'such charges are reflected in impairments , net loss on sale of long-lived assets , restructuring and merger related expense with corresponding adjustments to additional paid-in capital and unearned compensation in the accompanying consolidated financial statements .', 'recent accounting pronouncements 2014in december 2004 , the fasb issued sfas 123r , which supersedes apb no .', '25 , and amends sfas no .', '95 , 201cstatement of cash flows . 201d this statement addressed the accounting for share-based payments to employees , including grants of employee stock options .', 'under the new standard .'] | 301.16774 | AMT/2005/page_77.pdf-1 | ['american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) sfas no .', '148 .', 'in accordance with apb no .', '25 , the company recognizes compensation expense based on the excess , if any , of the quoted stock price at the grant date of the award or other measurement date over the amount an employee must pay to acquire the stock .', 'the company 2019s stock option plans are more fully described in note 14 .', 'in december 2004 , the fasb issued sfas no .', '123 ( revised 2004 ) , 201cshare-based payment 201d ( sfas 123r ) , as further described below .', 'during the year ended december 31 , 2005 , the company reevaluated the assumptions used to estimate the fair value of stock options issued to employees .', 'as a result , the company lowered its expected volatility assumption for options granted after july 1 , 2005 to approximately 30% ( 30 % ) and increased the expected life of option grants to 6.25 years using the simplified method permitted by sec sab no .', '107 , 201dshare-based payment 201d ( sab no .', '107 ) .', 'the company made this change based on a number of factors , including the company 2019s execution of its strategic plans to sell non-core businesses , reduce leverage and refinance its debt , and its recent merger with spectrasite , inc .', '( see note 2. ) management had previously based its volatility assumptions on historical volatility since inception , which included periods when the company 2019s capital structure was more highly leveraged than current levels and expected levels for the foreseeable future .', 'management 2019s estimate of future volatility is based on its consideration of all available information , including historical volatility , implied volatility of publicly traded options , the company 2019s current capital structure and its publicly announced future business plans .', 'for comparative purposes , a 10% ( 10 % ) change in the volatility assumption would change pro forma stock option expense and pro forma net loss by approximately $ 0.1 million for the year ended december 31 , 2005 .', '( see note 14. ) the following table illustrates the effect on net loss and net loss per common share if the company had applied the fair value recognition provisions of sfas no .', '123 ( as amended ) to stock-based compensation .', 'the estimated fair value of each option is calculated using the black-scholes option-pricing model ( in thousands , except per share amounts ) : .'] | ['the company has modified certain option awards to revise vesting and exercise terms for certain terminated employees and recognized charges of $ 7.0 million , $ 3.0 million and $ 2.3 million for the years ended december 31 , 2005 , 2004 and 2003 , respectively .', 'in addition , the stock-based employee compensation amounts above for the year ended december 31 , 2005 , include approximately $ 2.4 million of unearned compensation amortization related to unvested stock options assumed in the merger with spectrasite , inc .', 'such charges are reflected in impairments , net loss on sale of long-lived assets , restructuring and merger related expense with corresponding adjustments to additional paid-in capital and unearned compensation in the accompanying consolidated financial statements .', 'recent accounting pronouncements 2014in december 2004 , the fasb issued sfas 123r , which supersedes apb no .', '25 , and amends sfas no .', '95 , 201cstatement of cash flows . 201d this statement addressed the accounting for share-based payments to employees , including grants of employee stock options .', 'under the new standard .'] | ****************************************
2005 2004 2003
net loss as reported $ -171590 ( 171590 ) $ -247587 ( 247587 ) $ -325321 ( 325321 )
add : stock-based employee compensation expense net of related tax effect included in net loss as reported 7104 2297 2077
less : total stock-based employee compensation expense determined under fair value based method for all awards net of related taxeffect -22238 ( 22238 ) -23906 ( 23906 ) -31156 ( 31156 )
pro-forma net loss $ -186724 ( 186724 ) $ -269196 ( 269196 ) $ -354400 ( 354400 )
basic and diluted net loss per share as reported $ -0.57 ( 0.57 ) $ -1.10 ( 1.10 ) $ -1.56 ( 1.56 )
basic and diluted net loss per share pro-forma $ -0.62 ( 0.62 ) $ -1.20 ( 1.20 ) $ -1.70 ( 1.70 )
**************************************** | multiply(186724, const_1000), divide(#0, 0.62), divide(#1, const_1000000) | 301.16774 |
what was the percentage change in share-based compensation expense between 2011 and 2012? | Background: ['zimmer holdings , inc .', '2013 form 10-k annual report notes to consolidated financial statements ( continued ) unrealized gains and losses on cash flow hedges , unrealized gains and losses on available-for-sale securities and amortization of prior service costs and unrecognized gains and losses in actuarial assumptions .', 'treasury stock 2013 we account for repurchases of common stock under the cost method and present treasury stock as a reduction of stockholders 2019 equity .', 'we reissue common stock held in treasury only for limited purposes .', 'noncontrolling interest 2013 in 2011 , we made an investment in a company in which we acquired a controlling financial interest , but not 100 percent of the equity .', 'in 2013 , we purchased additional shares of the company from the minority shareholders .', 'further information related to the noncontrolling interests of that investment has not been provided as it is not significant to our consolidated financial statements .', 'accounting pronouncements 2013 effective january 1 , 2013 , we adopted the fasb 2019s accounting standard updates ( asus ) requiring reporting of amounts reclassified out of accumulated other comprehensive income ( oci ) and balance sheet offsetting between derivative assets and liabilities .', 'these asus only change financial statement disclosure requirements and therefore do not impact our financial position , results of operations or cash flows .', 'see note 12 for disclosures relating to oci .', 'see note 13 for disclosures relating to balance sheet offsetting .', 'there are no other recently issued accounting pronouncements that we have not yet adopted that are expected to have a material effect on our financial position , results of operations or cash flows .', '3 .', 'share-based compensation our share-based payments primarily consist of stock options , restricted stock , restricted stock units ( rsus ) , and an employee stock purchase plan .', 'share-based compensation expense is as follows ( in millions ) : .']
########
Table:
****************************************
for the years ended december 31, | 2013 | 2012 | 2011
----------|----------|----------|----------
stock options | $ 24.7 | $ 32.4 | $ 41.7
rsus and other | 23.8 | 22.6 | 18.8
total expense pre-tax | 48.5 | 55.0 | 60.5
tax benefit related to awards | -15.6 ( 15.6 ) | -16.6 ( 16.6 ) | -17.8 ( 17.8 )
total expense net of tax | $ 32.9 | $ 38.4 | $ 42.7
****************************************
########
Post-table: ['share-based compensation cost capitalized as part of inventory for the years ended december 31 , 2013 , 2012 and 2011 was $ 4.1 million , $ 6.1 million , and $ 8.8 million , respectively .', 'as of december 31 , 2013 and 2012 , approximately $ 2.4 million and $ 3.3 million of capitalized costs remained in finished goods inventory .', 'stock options we had two equity compensation plans in effect at december 31 , 2013 : the 2009 stock incentive plan ( 2009 plan ) and the stock plan for non-employee directors .', 'the 2009 plan succeeded the 2006 stock incentive plan ( 2006 plan ) and the teamshare stock option plan ( teamshare plan ) .', 'no further awards have been granted under the 2006 plan or under the teamshare plan since may 2009 , and shares remaining available for grant under those plans have been merged into the 2009 plan .', 'vested and unvested stock options and unvested restricted stock and rsus previously granted under the 2006 plan , the teamshare plan and another prior plan , the 2001 stock incentive plan , remained outstanding as of december 31 , 2013 .', 'we have reserved the maximum number of shares of common stock available for award under the terms of each of these plans .', 'we have registered 57.9 million shares of common stock under these plans .', 'the 2009 plan provides for the grant of nonqualified stock options and incentive stock options , long-term performance awards in the form of performance shares or units , restricted stock , rsus and stock appreciation rights .', 'the compensation and management development committee of the board of directors determines the grant date for annual grants under our equity compensation plans .', 'the date for annual grants under the 2009 plan to our executive officers is expected to occur in the first quarter of each year following the earnings announcements for the previous quarter and full year .', 'the stock plan for non-employee directors provides for awards of stock options , restricted stock and rsus to non-employee directors .', 'it has been our practice to issue shares of common stock upon exercise of stock options from previously unissued shares , except in limited circumstances where they are issued from treasury stock .', 'the total number of awards which may be granted in a given year and/or over the life of the plan under each of our equity compensation plans is limited .', 'at december 31 , 2013 , an aggregate of 10.4 million shares were available for future grants and awards under these plans .', 'stock options granted to date under our plans generally vest over four years and generally have a maximum contractual life of 10 years .', 'as established under our equity compensation plans , vesting may accelerate upon retirement after the first anniversary date of the award if certain criteria are met .', 'we recognize expense related to stock options on a straight-line basis over the requisite service period , less awards expected to be forfeited using estimated forfeiture rates .', 'due to the accelerated retirement provisions , the requisite service period of our stock options range from one to four years .', 'stock options are granted with an exercise price equal to the market price of our common stock on the date of grant , except in limited circumstances where local law may dictate otherwise. .'] | -0.1007 | ZBH/2013/page_49.pdf-1 | ['zimmer holdings , inc .', '2013 form 10-k annual report notes to consolidated financial statements ( continued ) unrealized gains and losses on cash flow hedges , unrealized gains and losses on available-for-sale securities and amortization of prior service costs and unrecognized gains and losses in actuarial assumptions .', 'treasury stock 2013 we account for repurchases of common stock under the cost method and present treasury stock as a reduction of stockholders 2019 equity .', 'we reissue common stock held in treasury only for limited purposes .', 'noncontrolling interest 2013 in 2011 , we made an investment in a company in which we acquired a controlling financial interest , but not 100 percent of the equity .', 'in 2013 , we purchased additional shares of the company from the minority shareholders .', 'further information related to the noncontrolling interests of that investment has not been provided as it is not significant to our consolidated financial statements .', 'accounting pronouncements 2013 effective january 1 , 2013 , we adopted the fasb 2019s accounting standard updates ( asus ) requiring reporting of amounts reclassified out of accumulated other comprehensive income ( oci ) and balance sheet offsetting between derivative assets and liabilities .', 'these asus only change financial statement disclosure requirements and therefore do not impact our financial position , results of operations or cash flows .', 'see note 12 for disclosures relating to oci .', 'see note 13 for disclosures relating to balance sheet offsetting .', 'there are no other recently issued accounting pronouncements that we have not yet adopted that are expected to have a material effect on our financial position , results of operations or cash flows .', '3 .', 'share-based compensation our share-based payments primarily consist of stock options , restricted stock , restricted stock units ( rsus ) , and an employee stock purchase plan .', 'share-based compensation expense is as follows ( in millions ) : .'] | ['share-based compensation cost capitalized as part of inventory for the years ended december 31 , 2013 , 2012 and 2011 was $ 4.1 million , $ 6.1 million , and $ 8.8 million , respectively .', 'as of december 31 , 2013 and 2012 , approximately $ 2.4 million and $ 3.3 million of capitalized costs remained in finished goods inventory .', 'stock options we had two equity compensation plans in effect at december 31 , 2013 : the 2009 stock incentive plan ( 2009 plan ) and the stock plan for non-employee directors .', 'the 2009 plan succeeded the 2006 stock incentive plan ( 2006 plan ) and the teamshare stock option plan ( teamshare plan ) .', 'no further awards have been granted under the 2006 plan or under the teamshare plan since may 2009 , and shares remaining available for grant under those plans have been merged into the 2009 plan .', 'vested and unvested stock options and unvested restricted stock and rsus previously granted under the 2006 plan , the teamshare plan and another prior plan , the 2001 stock incentive plan , remained outstanding as of december 31 , 2013 .', 'we have reserved the maximum number of shares of common stock available for award under the terms of each of these plans .', 'we have registered 57.9 million shares of common stock under these plans .', 'the 2009 plan provides for the grant of nonqualified stock options and incentive stock options , long-term performance awards in the form of performance shares or units , restricted stock , rsus and stock appreciation rights .', 'the compensation and management development committee of the board of directors determines the grant date for annual grants under our equity compensation plans .', 'the date for annual grants under the 2009 plan to our executive officers is expected to occur in the first quarter of each year following the earnings announcements for the previous quarter and full year .', 'the stock plan for non-employee directors provides for awards of stock options , restricted stock and rsus to non-employee directors .', 'it has been our practice to issue shares of common stock upon exercise of stock options from previously unissued shares , except in limited circumstances where they are issued from treasury stock .', 'the total number of awards which may be granted in a given year and/or over the life of the plan under each of our equity compensation plans is limited .', 'at december 31 , 2013 , an aggregate of 10.4 million shares were available for future grants and awards under these plans .', 'stock options granted to date under our plans generally vest over four years and generally have a maximum contractual life of 10 years .', 'as established under our equity compensation plans , vesting may accelerate upon retirement after the first anniversary date of the award if certain criteria are met .', 'we recognize expense related to stock options on a straight-line basis over the requisite service period , less awards expected to be forfeited using estimated forfeiture rates .', 'due to the accelerated retirement provisions , the requisite service period of our stock options range from one to four years .', 'stock options are granted with an exercise price equal to the market price of our common stock on the date of grant , except in limited circumstances where local law may dictate otherwise. .'] | ****************************************
for the years ended december 31, | 2013 | 2012 | 2011
----------|----------|----------|----------
stock options | $ 24.7 | $ 32.4 | $ 41.7
rsus and other | 23.8 | 22.6 | 18.8
total expense pre-tax | 48.5 | 55.0 | 60.5
tax benefit related to awards | -15.6 ( 15.6 ) | -16.6 ( 16.6 ) | -17.8 ( 17.8 )
total expense net of tax | $ 32.9 | $ 38.4 | $ 42.7
**************************************** | subtract(38.4, 42.7), divide(#0, 42.7) | -0.1007 |
what is the percentage change in the impact of euro from 2011 to 2012? | Context: ['.']
##
Tabular Data:
****************************************
currency 2012 2011 2010
real $ 40.4 $ 42.4 $ 32.5
euro 27.1 26.4 18.6
pound sterling 18.5 17.6 9.0
indian rupee 4.3 3.6 2.6
total impact $ 90.3 $ 90.0 $ 62.7
****************************************
##
Post-table: ['the impact on earnings of the foregoing assumed 10% ( 10 % ) change in each of the periods presented would not have been significant .', 'revenue included $ 100.8 million and operating income included $ 9.0 million of unfavorable foreign currency impact during 2012 resulting from a stronger u.s .', 'dollar during 2012 compared to 2011 .', 'our foreign exchange risk management policy permits the use of derivative instruments , such as forward contracts and options , to reduce volatility in our results of operations and/or cash flows resulting from foreign exchange rate fluctuations .', "our international operations' revenues and expenses are generally denominated in local currency , which limits the economic exposure to foreign exchange risk in those jurisdictions .", 'we do not enter into foreign currency derivative instruments for trading purposes .', 'we have entered into foreign currency forward exchange contracts to hedge foreign currency exposure to intercompany loans .', 'as of december 31 , 2012 , the notional amount of these derivatives was approximately $ 115.6 million and the fair value was nominal .', 'these derivatives are intended to hedge the foreign exchange risks related to intercompany loans , but have not been designated as hedges for accounting purposes. .'] | 0.02652 | FIS/2012/page_48.pdf-2 | ['.'] | ['the impact on earnings of the foregoing assumed 10% ( 10 % ) change in each of the periods presented would not have been significant .', 'revenue included $ 100.8 million and operating income included $ 9.0 million of unfavorable foreign currency impact during 2012 resulting from a stronger u.s .', 'dollar during 2012 compared to 2011 .', 'our foreign exchange risk management policy permits the use of derivative instruments , such as forward contracts and options , to reduce volatility in our results of operations and/or cash flows resulting from foreign exchange rate fluctuations .', "our international operations' revenues and expenses are generally denominated in local currency , which limits the economic exposure to foreign exchange risk in those jurisdictions .", 'we do not enter into foreign currency derivative instruments for trading purposes .', 'we have entered into foreign currency forward exchange contracts to hedge foreign currency exposure to intercompany loans .', 'as of december 31 , 2012 , the notional amount of these derivatives was approximately $ 115.6 million and the fair value was nominal .', 'these derivatives are intended to hedge the foreign exchange risks related to intercompany loans , but have not been designated as hedges for accounting purposes. .'] | ****************************************
currency 2012 2011 2010
real $ 40.4 $ 42.4 $ 32.5
euro 27.1 26.4 18.6
pound sterling 18.5 17.6 9.0
indian rupee 4.3 3.6 2.6
total impact $ 90.3 $ 90.0 $ 62.7
**************************************** | subtract(27.1, 26.4), divide(#0, 26.4) | 0.02652 |
what is the mathematical mean for all three investments as of dec 31 , 2017? | Context: ["performance graph the following graph compares the total return , assuming reinvestment of dividends , on an investment in the company , based on performance of the company's common stock , with the total return of the standard & poor's 500 composite stock index and the dow jones united states travel and leisure index for a five year period by measuring the changes in common stock prices from december 31 , 2012 to december 31 , 2017. ."]
Data Table:
****************************************
| 12/12 | 12/13 | 12/14 | 12/15 | 12/16 | 12/17
royal caribbean cruises ltd . | 100.00 | 142.11 | 251.44 | 313.65 | 260.04 | 385.47
s&p 500 | 100.00 | 132.39 | 150.51 | 152.59 | 170.84 | 208.14
dow jones us travel & leisure | 100.00 | 145.48 | 169.28 | 179.27 | 192.85 | 238.77
****************************************
Post-table: ["the stock performance graph assumes for comparison that the value of the company's common stock and of each index was $ 100 on december 31 , 2012 and that all dividends were reinvested .", 'past performance is not necessarily an indicator of future results. .'] | 277.46 | RCL/2017/page_38.pdf-3 | ["performance graph the following graph compares the total return , assuming reinvestment of dividends , on an investment in the company , based on performance of the company's common stock , with the total return of the standard & poor's 500 composite stock index and the dow jones united states travel and leisure index for a five year period by measuring the changes in common stock prices from december 31 , 2012 to december 31 , 2017. ."] | ["the stock performance graph assumes for comparison that the value of the company's common stock and of each index was $ 100 on december 31 , 2012 and that all dividends were reinvested .", 'past performance is not necessarily an indicator of future results. .'] | ****************************************
| 12/12 | 12/13 | 12/14 | 12/15 | 12/16 | 12/17
royal caribbean cruises ltd . | 100.00 | 142.11 | 251.44 | 313.65 | 260.04 | 385.47
s&p 500 | 100.00 | 132.39 | 150.51 | 152.59 | 170.84 | 208.14
dow jones us travel & leisure | 100.00 | 145.48 | 169.28 | 179.27 | 192.85 | 238.77
**************************************** | add(385.47, 208.14), add(#0, 238.77), divide(#1, const_3) | 277.46 |
what is the variation observed in the net benefit payments during 2012 and 2011? | Background: ['mastercard incorporated notes to consolidated financial statements 2014 ( continued ) ( in thousands , except percent and per share data ) the company does not make any contributions to its postretirement plan other than funding benefits payments .', 'the following table summarizes expected net benefit payments from the company 2019s general assets through 2018 : benefit payments expected subsidy receipts benefit payments .']
--
Data Table:
========================================
| benefit payments | expected subsidy receipts | net benefit payments
----------|----------|----------|----------
2009 | $ 2641 | $ 77 | $ 2564
2010 | 3139 | 91 | 3048
2011 | 3561 | 115 | 3446
2012 | 3994 | 140 | 3854
2013 | 4357 | 169 | 4188
2014 2013 2018 | 25807 | 1269 | 24538
========================================
--
Post-table: ['the company provides limited postemployment benefits to eligible former u.s .', 'employees , primarily severance under a formal severance plan ( the 201cseverance plan 201d ) .', 'the company accounts for severance expense in accordance with sfas no .', '112 , 201cemployers 2019 accounting for postemployment benefits 201d by accruing the expected cost of the severance benefits expected to be provided to former employees after employment over their relevant service periods .', 'the company updates the assumptions in determining the severance accrual by evaluating the actual severance activity and long-term trends underlying the assumptions .', 'as a result of updating the assumptions , the company recorded severance expense ( benefit ) related to the severance plan of $ 2643 , $ ( 3418 ) and $ 8400 , respectively , during the years 2008 , 2007 and 2006 .', 'the company has an accrued liability related to the severance plan and other severance obligations in the amount of $ 63863 and $ 56172 at december 31 , 2008 and 2007 , respectively .', 'note 13 .', 'debt on april 28 , 2008 , the company extended its committed unsecured revolving credit facility , dated as of april 28 , 2006 ( the 201ccredit facility 201d ) , for an additional year .', 'the new expiration date of the credit facility is april 26 , 2011 .', 'the available funding under the credit facility will remain at $ 2500000 through april 27 , 2010 and then decrease to $ 2000000 during the final year of the credit facility agreement .', 'other terms and conditions in the credit facility remain unchanged .', 'the company 2019s option to request that each lender under the credit facility extend its commitment was provided pursuant to the original terms of the credit facility agreement .', 'borrowings under the facility are available to provide liquidity in the event of one or more settlement failures by mastercard international customers and , subject to a limit of $ 500000 , for general corporate purposes .', 'a facility fee of 8 basis points on the total commitment , or approximately $ 2030 , is paid annually .', 'interest on borrowings under the credit facility would be charged at the london interbank offered rate ( libor ) plus an applicable margin of 37 basis points or an alternative base rate , and a utilization fee of 10 basis points would be charged if outstanding borrowings under the facility exceed 50% ( 50 % ) of commitments .', 'the facility fee and borrowing cost are contingent upon the company 2019s credit rating .', 'the company also agreed to pay upfront fees of $ 1250 and administrative fees of $ 325 for the credit facility which are being amortized straight- line over three years .', 'facility and other fees associated with the credit facility or prior facilities totaled $ 2353 , $ 2477 and $ 2717 for each of the years ended december 31 , 2008 , 2007 and 2006 , respectively .', 'mastercard was in compliance with the covenants of the credit facility and had no borrowings under the credit facility at december 31 , 2008 or december 31 , 2007 .', 'the majority of credit facility lenders are customers or affiliates of customers of mastercard international .', 'in june 1998 , mastercard international issued ten-year unsecured , subordinated notes ( the 201cnotes 201d ) paying a fixed interest rate of 6.67% ( 6.67 % ) per annum .', 'mastercard repaid the entire principal amount of $ 80000 on june 30 .'] | 408.0 | MA/2008/page_116.pdf-3 | ['mastercard incorporated notes to consolidated financial statements 2014 ( continued ) ( in thousands , except percent and per share data ) the company does not make any contributions to its postretirement plan other than funding benefits payments .', 'the following table summarizes expected net benefit payments from the company 2019s general assets through 2018 : benefit payments expected subsidy receipts benefit payments .'] | ['the company provides limited postemployment benefits to eligible former u.s .', 'employees , primarily severance under a formal severance plan ( the 201cseverance plan 201d ) .', 'the company accounts for severance expense in accordance with sfas no .', '112 , 201cemployers 2019 accounting for postemployment benefits 201d by accruing the expected cost of the severance benefits expected to be provided to former employees after employment over their relevant service periods .', 'the company updates the assumptions in determining the severance accrual by evaluating the actual severance activity and long-term trends underlying the assumptions .', 'as a result of updating the assumptions , the company recorded severance expense ( benefit ) related to the severance plan of $ 2643 , $ ( 3418 ) and $ 8400 , respectively , during the years 2008 , 2007 and 2006 .', 'the company has an accrued liability related to the severance plan and other severance obligations in the amount of $ 63863 and $ 56172 at december 31 , 2008 and 2007 , respectively .', 'note 13 .', 'debt on april 28 , 2008 , the company extended its committed unsecured revolving credit facility , dated as of april 28 , 2006 ( the 201ccredit facility 201d ) , for an additional year .', 'the new expiration date of the credit facility is april 26 , 2011 .', 'the available funding under the credit facility will remain at $ 2500000 through april 27 , 2010 and then decrease to $ 2000000 during the final year of the credit facility agreement .', 'other terms and conditions in the credit facility remain unchanged .', 'the company 2019s option to request that each lender under the credit facility extend its commitment was provided pursuant to the original terms of the credit facility agreement .', 'borrowings under the facility are available to provide liquidity in the event of one or more settlement failures by mastercard international customers and , subject to a limit of $ 500000 , for general corporate purposes .', 'a facility fee of 8 basis points on the total commitment , or approximately $ 2030 , is paid annually .', 'interest on borrowings under the credit facility would be charged at the london interbank offered rate ( libor ) plus an applicable margin of 37 basis points or an alternative base rate , and a utilization fee of 10 basis points would be charged if outstanding borrowings under the facility exceed 50% ( 50 % ) of commitments .', 'the facility fee and borrowing cost are contingent upon the company 2019s credit rating .', 'the company also agreed to pay upfront fees of $ 1250 and administrative fees of $ 325 for the credit facility which are being amortized straight- line over three years .', 'facility and other fees associated with the credit facility or prior facilities totaled $ 2353 , $ 2477 and $ 2717 for each of the years ended december 31 , 2008 , 2007 and 2006 , respectively .', 'mastercard was in compliance with the covenants of the credit facility and had no borrowings under the credit facility at december 31 , 2008 or december 31 , 2007 .', 'the majority of credit facility lenders are customers or affiliates of customers of mastercard international .', 'in june 1998 , mastercard international issued ten-year unsecured , subordinated notes ( the 201cnotes 201d ) paying a fixed interest rate of 6.67% ( 6.67 % ) per annum .', 'mastercard repaid the entire principal amount of $ 80000 on june 30 .'] | ========================================
| benefit payments | expected subsidy receipts | net benefit payments
----------|----------|----------|----------
2009 | $ 2641 | $ 77 | $ 2564
2010 | 3139 | 91 | 3048
2011 | 3561 | 115 | 3446
2012 | 3994 | 140 | 3854
2013 | 4357 | 169 | 4188
2014 2013 2018 | 25807 | 1269 | 24538
======================================== | subtract(3854, 3446) | 408.0 |
by how much did american airlines group inc . common stock out preform the s&p 500 index over the 4 year period? | Context: ['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
========================================
----
Follow-up: ['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 .'] | 0.48 | AAL/2015/page_51.pdf-3 | ['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), subtract(127, 100), divide(#2, 100), subtract(#1, #3) | 0.48 |
in 2015 what was the percentage change in the net interest income excluding cib 2019s markets-based activities from 2014 | Context: ['management 2019s discussion and analysis 82 jpmorgan chase & co./2015 annual report net interest income excluding markets-based activities ( formerly core net interest income ) in addition to reviewing net interest income on a managed basis , management also reviews net interest income excluding cib 2019s markets-based activities to assess the performance of the firm 2019s lending , investing ( including asset-liability management ) and deposit-raising activities .', 'the data presented below are non-gaap financial measures due to the exclusion of cib 2019s markets-based net interest income and related assets .', 'management believes this exclusion provides investors and analysts with another measure by which to analyze the non-markets-related business trends of the firm and provides a comparable measure to other financial institutions that are primarily focused on lending , investing and deposit-raising activities .', 'net interest income excluding cib markets-based activities data year ended december 31 , ( in millions , except rates ) 2015 2014 2013 net interest income 2013 managed basis ( a ) ( b ) $ 44620 $ 44619 $ 44016 less : markets-based net interest income 4813 5552 5492 net interest income excluding markets ( a ) $ 39807 $ 39067 $ 38524 average interest-earning assets $ 2088242 $ 2049093 $ 1970231 less : average markets- based interest-earning assets 493225 510261 504218 average interest- earning assets excluding markets $ 1595017 $ 1538832 $ 1466013 net interest yield on average interest-earning assets 2013 managed basis 2.14% ( 2.14 % ) 2.18% ( 2.18 % ) 2.23% ( 2.23 % ) net interest yield on average markets-based interest-earning assets 0.97 1.09 1.09 net interest yield on average interest-earning assets excluding markets 2.50% ( 2.50 % ) 2.54% ( 2.54 % ) 2.63% ( 2.63 % ) ( a ) interest includes the effect of related hedging derivatives .', 'taxable-equivalent amounts are used where applicable .', '( b ) for a reconciliation of net interest income on a reported and managed basis , see reconciliation from the firm 2019s reported u.s .', 'gaap results to managed basis on page 80 .', '2015 compared with 2014 net interest income excluding cib 2019s markets-based activities increased by $ 740 million in 2015 to $ 39.8 billion , and average interest-earning assets increased by $ 56.2 billion to $ 1.6 trillion .', 'the increase in net interest income in 2015 predominantly reflected higher average loan balances and lower interest expense on deposits .', 'the increase was partially offset by lower loan yields and lower investment securities net interest income .', 'the increase in average interest-earning assets largely reflected the impact of higher average deposits with banks .', 'these changes in net interest income and interest-earning assets resulted in the net interest yield decreasing by 4 basis points to 2.50% ( 2.50 % ) for 2014 compared with 2013 net interest income excluding cib 2019s markets-based activities increased by $ 543 million in 2014 to $ 39.1 billion , and average interest-earning assets increased by $ 72.8 billion to $ 1.5 trillion .', 'the increase in net interest income in 2014 predominantly reflected higher yields on investment securities , the impact of lower interest expense , and higher average loan balances .', 'the increase was partially offset by lower yields on loans due to the run-off of higher-yielding loans and new originations of lower-yielding loans .', 'the increase in average interest-earning assets largely reflected the impact of higher average balance of deposits with banks .', 'these changes in net interest income and interest- earning assets resulted in the net interest yield decreasing by 9 basis points to 2.54% ( 2.54 % ) for 2014. .']
Data Table:
****************************************
year ended december 31 ( in millions except rates ) 2015 2014 2013
net interest income 2013 managed basis ( a ) ( b ) $ 44620 $ 44619 $ 44016
less : markets-based net interest income 4813 5552 5492
net interest income excluding markets ( a ) $ 39807 $ 39067 $ 38524
average interest-earning assets $ 2088242 $ 2049093 $ 1970231
less : average markets-based interest-earning assets 493225 510261 504218
average interest-earning assets excluding markets $ 1595017 $ 1538832 $ 1466013
net interest yield on average interest-earning assets 2013 managed basis 2.14% ( 2.14 % ) 2.18% ( 2.18 % ) 2.23% ( 2.23 % )
net interest yield on average markets-based interest-earning assets 0.97 1.09 1.09
net interest yield on average interest-earning assets excluding markets 2.50% ( 2.50 % ) 2.54% ( 2.54 % ) 2.63% ( 2.63 % )
****************************************
Post-table: ['management 2019s discussion and analysis 82 jpmorgan chase & co./2015 annual report net interest income excluding markets-based activities ( formerly core net interest income ) in addition to reviewing net interest income on a managed basis , management also reviews net interest income excluding cib 2019s markets-based activities to assess the performance of the firm 2019s lending , investing ( including asset-liability management ) and deposit-raising activities .', 'the data presented below are non-gaap financial measures due to the exclusion of cib 2019s markets-based net interest income and related assets .', 'management believes this exclusion provides investors and analysts with another measure by which to analyze the non-markets-related business trends of the firm and provides a comparable measure to other financial institutions that are primarily focused on lending , investing and deposit-raising activities .', 'net interest income excluding cib markets-based activities data year ended december 31 , ( in millions , except rates ) 2015 2014 2013 net interest income 2013 managed basis ( a ) ( b ) $ 44620 $ 44619 $ 44016 less : markets-based net interest income 4813 5552 5492 net interest income excluding markets ( a ) $ 39807 $ 39067 $ 38524 average interest-earning assets $ 2088242 $ 2049093 $ 1970231 less : average markets- based interest-earning assets 493225 510261 504218 average interest- earning assets excluding markets $ 1595017 $ 1538832 $ 1466013 net interest yield on average interest-earning assets 2013 managed basis 2.14% ( 2.14 % ) 2.18% ( 2.18 % ) 2.23% ( 2.23 % ) net interest yield on average markets-based interest-earning assets 0.97 1.09 1.09 net interest yield on average interest-earning assets excluding markets 2.50% ( 2.50 % ) 2.54% ( 2.54 % ) 2.63% ( 2.63 % ) ( a ) interest includes the effect of related hedging derivatives .', 'taxable-equivalent amounts are used where applicable .', '( b ) for a reconciliation of net interest income on a reported and managed basis , see reconciliation from the firm 2019s reported u.s .', 'gaap results to managed basis on page 80 .', '2015 compared with 2014 net interest income excluding cib 2019s markets-based activities increased by $ 740 million in 2015 to $ 39.8 billion , and average interest-earning assets increased by $ 56.2 billion to $ 1.6 trillion .', 'the increase in net interest income in 2015 predominantly reflected higher average loan balances and lower interest expense on deposits .', 'the increase was partially offset by lower loan yields and lower investment securities net interest income .', 'the increase in average interest-earning assets largely reflected the impact of higher average deposits with banks .', 'these changes in net interest income and interest-earning assets resulted in the net interest yield decreasing by 4 basis points to 2.50% ( 2.50 % ) for 2014 compared with 2013 net interest income excluding cib 2019s markets-based activities increased by $ 543 million in 2014 to $ 39.1 billion , and average interest-earning assets increased by $ 72.8 billion to $ 1.5 trillion .', 'the increase in net interest income in 2014 predominantly reflected higher yields on investment securities , the impact of lower interest expense , and higher average loan balances .', 'the increase was partially offset by lower yields on loans due to the run-off of higher-yielding loans and new originations of lower-yielding loans .', 'the increase in average interest-earning assets largely reflected the impact of higher average balance of deposits with banks .', 'these changes in net interest income and interest- earning assets resulted in the net interest yield decreasing by 9 basis points to 2.54% ( 2.54 % ) for 2014. .'] | 18.59296 | JPM/2015/page_92.pdf-2 | ['management 2019s discussion and analysis 82 jpmorgan chase & co./2015 annual report net interest income excluding markets-based activities ( formerly core net interest income ) in addition to reviewing net interest income on a managed basis , management also reviews net interest income excluding cib 2019s markets-based activities to assess the performance of the firm 2019s lending , investing ( including asset-liability management ) and deposit-raising activities .', 'the data presented below are non-gaap financial measures due to the exclusion of cib 2019s markets-based net interest income and related assets .', 'management believes this exclusion provides investors and analysts with another measure by which to analyze the non-markets-related business trends of the firm and provides a comparable measure to other financial institutions that are primarily focused on lending , investing and deposit-raising activities .', 'net interest income excluding cib markets-based activities data year ended december 31 , ( in millions , except rates ) 2015 2014 2013 net interest income 2013 managed basis ( a ) ( b ) $ 44620 $ 44619 $ 44016 less : markets-based net interest income 4813 5552 5492 net interest income excluding markets ( a ) $ 39807 $ 39067 $ 38524 average interest-earning assets $ 2088242 $ 2049093 $ 1970231 less : average markets- based interest-earning assets 493225 510261 504218 average interest- earning assets excluding markets $ 1595017 $ 1538832 $ 1466013 net interest yield on average interest-earning assets 2013 managed basis 2.14% ( 2.14 % ) 2.18% ( 2.18 % ) 2.23% ( 2.23 % ) net interest yield on average markets-based interest-earning assets 0.97 1.09 1.09 net interest yield on average interest-earning assets excluding markets 2.50% ( 2.50 % ) 2.54% ( 2.54 % ) 2.63% ( 2.63 % ) ( a ) interest includes the effect of related hedging derivatives .', 'taxable-equivalent amounts are used where applicable .', '( b ) for a reconciliation of net interest income on a reported and managed basis , see reconciliation from the firm 2019s reported u.s .', 'gaap results to managed basis on page 80 .', '2015 compared with 2014 net interest income excluding cib 2019s markets-based activities increased by $ 740 million in 2015 to $ 39.8 billion , and average interest-earning assets increased by $ 56.2 billion to $ 1.6 trillion .', 'the increase in net interest income in 2015 predominantly reflected higher average loan balances and lower interest expense on deposits .', 'the increase was partially offset by lower loan yields and lower investment securities net interest income .', 'the increase in average interest-earning assets largely reflected the impact of higher average deposits with banks .', 'these changes in net interest income and interest-earning assets resulted in the net interest yield decreasing by 4 basis points to 2.50% ( 2.50 % ) for 2014 compared with 2013 net interest income excluding cib 2019s markets-based activities increased by $ 543 million in 2014 to $ 39.1 billion , and average interest-earning assets increased by $ 72.8 billion to $ 1.5 trillion .', 'the increase in net interest income in 2014 predominantly reflected higher yields on investment securities , the impact of lower interest expense , and higher average loan balances .', 'the increase was partially offset by lower yields on loans due to the run-off of higher-yielding loans and new originations of lower-yielding loans .', 'the increase in average interest-earning assets largely reflected the impact of higher average balance of deposits with banks .', 'these changes in net interest income and interest- earning assets resulted in the net interest yield decreasing by 9 basis points to 2.54% ( 2.54 % ) for 2014. .'] | ['management 2019s discussion and analysis 82 jpmorgan chase & co./2015 annual report net interest income excluding markets-based activities ( formerly core net interest income ) in addition to reviewing net interest income on a managed basis , management also reviews net interest income excluding cib 2019s markets-based activities to assess the performance of the firm 2019s lending , investing ( including asset-liability management ) and deposit-raising activities .', 'the data presented below are non-gaap financial measures due to the exclusion of cib 2019s markets-based net interest income and related assets .', 'management believes this exclusion provides investors and analysts with another measure by which to analyze the non-markets-related business trends of the firm and provides a comparable measure to other financial institutions that are primarily focused on lending , investing and deposit-raising activities .', 'net interest income excluding cib markets-based activities data year ended december 31 , ( in millions , except rates ) 2015 2014 2013 net interest income 2013 managed basis ( a ) ( b ) $ 44620 $ 44619 $ 44016 less : markets-based net interest income 4813 5552 5492 net interest income excluding markets ( a ) $ 39807 $ 39067 $ 38524 average interest-earning assets $ 2088242 $ 2049093 $ 1970231 less : average markets- based interest-earning assets 493225 510261 504218 average interest- earning assets excluding markets $ 1595017 $ 1538832 $ 1466013 net interest yield on average interest-earning assets 2013 managed basis 2.14% ( 2.14 % ) 2.18% ( 2.18 % ) 2.23% ( 2.23 % ) net interest yield on average markets-based interest-earning assets 0.97 1.09 1.09 net interest yield on average interest-earning assets excluding markets 2.50% ( 2.50 % ) 2.54% ( 2.54 % ) 2.63% ( 2.63 % ) ( a ) interest includes the effect of related hedging derivatives .', 'taxable-equivalent amounts are used where applicable .', '( b ) for a reconciliation of net interest income on a reported and managed basis , see reconciliation from the firm 2019s reported u.s .', 'gaap results to managed basis on page 80 .', '2015 compared with 2014 net interest income excluding cib 2019s markets-based activities increased by $ 740 million in 2015 to $ 39.8 billion , and average interest-earning assets increased by $ 56.2 billion to $ 1.6 trillion .', 'the increase in net interest income in 2015 predominantly reflected higher average loan balances and lower interest expense on deposits .', 'the increase was partially offset by lower loan yields and lower investment securities net interest income .', 'the increase in average interest-earning assets largely reflected the impact of higher average deposits with banks .', 'these changes in net interest income and interest-earning assets resulted in the net interest yield decreasing by 4 basis points to 2.50% ( 2.50 % ) for 2014 compared with 2013 net interest income excluding cib 2019s markets-based activities increased by $ 543 million in 2014 to $ 39.1 billion , and average interest-earning assets increased by $ 72.8 billion to $ 1.5 trillion .', 'the increase in net interest income in 2014 predominantly reflected higher yields on investment securities , the impact of lower interest expense , and higher average loan balances .', 'the increase was partially offset by lower yields on loans due to the run-off of higher-yielding loans and new originations of lower-yielding loans .', 'the increase in average interest-earning assets largely reflected the impact of higher average balance of deposits with banks .', 'these changes in net interest income and interest- earning assets resulted in the net interest yield decreasing by 9 basis points to 2.54% ( 2.54 % ) for 2014. .'] | ****************************************
year ended december 31 ( in millions except rates ) 2015 2014 2013
net interest income 2013 managed basis ( a ) ( b ) $ 44620 $ 44619 $ 44016
less : markets-based net interest income 4813 5552 5492
net interest income excluding markets ( a ) $ 39807 $ 39067 $ 38524
average interest-earning assets $ 2088242 $ 2049093 $ 1970231
less : average markets-based interest-earning assets 493225 510261 504218
average interest-earning assets excluding markets $ 1595017 $ 1538832 $ 1466013
net interest yield on average interest-earning assets 2013 managed basis 2.14% ( 2.14 % ) 2.18% ( 2.18 % ) 2.23% ( 2.23 % )
net interest yield on average markets-based interest-earning assets 0.97 1.09 1.09
net interest yield on average interest-earning assets excluding markets 2.50% ( 2.50 % ) 2.54% ( 2.54 % ) 2.63% ( 2.63 % )
**************************************** | divide(740, 39.8) | 18.59296 |
what percentage of total miles of track were switching and classification yard lines in 2012? | Pre-text: ['item 2 .', 'properties we employ a variety of assets in the management and operation of our rail business .', 'our rail network covers 23 states in the western two-thirds of the u.s .', 'our rail network includes 31838 route miles .', 'we own 26009 miles and operate on the remainder pursuant to trackage rights or leases .', 'the following table describes track miles at december 31 , 2013 and 2012 .', '2013 2012 .']
########
Data Table:
2013 2012
route 31838 31868
other main line 6766 6715
passing lines and turnouts 3167 3124
switching and classification yard lines 9090 9046
total miles 50861 50753
########
Post-table: ['headquarters building we maintain our headquarters in omaha , nebraska .', 'the facility has 1.2 million square feet of space for approximately 4000 employees and is subject to a financing arrangement .', 'harriman dispatching center the harriman dispatching center ( hdc ) , located in omaha , nebraska , is our primary dispatching facility .', 'it is linked to regional dispatching and locomotive management facilities at various locations along our .'] | 0.17824 | UNP/2013/page_14.pdf-4 | ['item 2 .', 'properties we employ a variety of assets in the management and operation of our rail business .', 'our rail network covers 23 states in the western two-thirds of the u.s .', 'our rail network includes 31838 route miles .', 'we own 26009 miles and operate on the remainder pursuant to trackage rights or leases .', 'the following table describes track miles at december 31 , 2013 and 2012 .', '2013 2012 .'] | ['headquarters building we maintain our headquarters in omaha , nebraska .', 'the facility has 1.2 million square feet of space for approximately 4000 employees and is subject to a financing arrangement .', 'harriman dispatching center the harriman dispatching center ( hdc ) , located in omaha , nebraska , is our primary dispatching facility .', 'it is linked to regional dispatching and locomotive management facilities at various locations along our .'] | 2013 2012
route 31838 31868
other main line 6766 6715
passing lines and turnouts 3167 3124
switching and classification yard lines 9090 9046
total miles 50861 50753 | divide(9046, 50753) | 0.17824 |
in 2017 what was the percentage change in the net revenue | Pre-text: ['entergy louisiana , llc and subsidiaries management 2019s financial discussion and analysis results of operations net income 2017 compared to 2016 net income decreased $ 305.7 million primarily due to the effect of the enactment of the tax cuts and jobs act , in december 2017 , which resulted in a decrease of $ 182.6 million in net income in 2017 , and the effect of a settlement with the irs related to the 2010-2011 irs audit , which resulted in a $ 136.1 million reduction of income tax expense in 2016 .', 'also contributing to the decrease in net income were higher other operation and maintenance expenses .', 'the decrease was partially offset by higher net revenue and higher other income .', 'see note 3 to the financial statements for discussion of the effects of the tax cuts and jobs act and the irs audit .', '2016 compared to 2015 net income increased $ 175.4 million primarily due to the effect of a settlement with the irs related to the 2010-2011 irs audit , which resulted in a $ 136.1 million reduction of income tax expense in 2016 .', 'also contributing to the increase were lower other operation and maintenance expenses , higher net revenue , and higher other income .', 'the increase was partially offset by higher depreciation and amortization expenses , higher interest expense , and higher nuclear refueling outage expenses .', 'see note 3 to the financial statements for discussion of the irs audit .', 'net revenue 2017 compared to 2016 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 2017 to 2016 .', 'amount ( in millions ) .']
########
Tabular Data:
========================================
| amount ( in millions )
----------|----------
2016 net revenue | $ 2438.4
regulatory credit resulting from reduction of thefederal corporate income tax rate | 55.5
retail electric price | 42.8
louisiana act 55 financing savings obligation | 17.2
volume/weather | -12.4 ( 12.4 )
other | 19.0
2017 net revenue | $ 2560.5
========================================
########
Additional Information: ['the regulatory credit resulting from reduction of the federal corporate income tax rate variance is due to the reduction of the vidalia purchased power agreement regulatory liability by $ 30.5 million and the reduction of the louisiana act 55 financing savings obligation regulatory liabilities by $ 25 million as a result of the enactment of the tax cuts and jobs act , in december 2017 , which lowered the federal corporate income tax rate from 35% ( 35 % ) to 21% ( 21 % ) .', 'the effects of the tax cuts and jobs act are discussed further in note 3 to the financial statements. .'] | 0.05007 | ETR/2017/page_342.pdf-3 | ['entergy louisiana , llc and subsidiaries management 2019s financial discussion and analysis results of operations net income 2017 compared to 2016 net income decreased $ 305.7 million primarily due to the effect of the enactment of the tax cuts and jobs act , in december 2017 , which resulted in a decrease of $ 182.6 million in net income in 2017 , and the effect of a settlement with the irs related to the 2010-2011 irs audit , which resulted in a $ 136.1 million reduction of income tax expense in 2016 .', 'also contributing to the decrease in net income were higher other operation and maintenance expenses .', 'the decrease was partially offset by higher net revenue and higher other income .', 'see note 3 to the financial statements for discussion of the effects of the tax cuts and jobs act and the irs audit .', '2016 compared to 2015 net income increased $ 175.4 million primarily due to the effect of a settlement with the irs related to the 2010-2011 irs audit , which resulted in a $ 136.1 million reduction of income tax expense in 2016 .', 'also contributing to the increase were lower other operation and maintenance expenses , higher net revenue , and higher other income .', 'the increase was partially offset by higher depreciation and amortization expenses , higher interest expense , and higher nuclear refueling outage expenses .', 'see note 3 to the financial statements for discussion of the irs audit .', 'net revenue 2017 compared to 2016 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 2017 to 2016 .', 'amount ( in millions ) .'] | ['the regulatory credit resulting from reduction of the federal corporate income tax rate variance is due to the reduction of the vidalia purchased power agreement regulatory liability by $ 30.5 million and the reduction of the louisiana act 55 financing savings obligation regulatory liabilities by $ 25 million as a result of the enactment of the tax cuts and jobs act , in december 2017 , which lowered the federal corporate income tax rate from 35% ( 35 % ) to 21% ( 21 % ) .', 'the effects of the tax cuts and jobs act are discussed further in note 3 to the financial statements. .'] | ========================================
| amount ( in millions )
----------|----------
2016 net revenue | $ 2438.4
regulatory credit resulting from reduction of thefederal corporate income tax rate | 55.5
retail electric price | 42.8
louisiana act 55 financing savings obligation | 17.2
volume/weather | -12.4 ( 12.4 )
other | 19.0
2017 net revenue | $ 2560.5
======================================== | subtract(2560.5, 2438.4), divide(#0, 2438.4) | 0.05007 |
what is the percent change in the fair value per share between 2014 and 2016? | Pre-text: ['edwards lifesciences corporation notes to consolidated financial statements ( continued ) 13 .', 'common stock ( continued ) the company also maintains the nonemployee directors stock incentive compensation program ( the 2018 2018nonemployee directors program 2019 2019 ) .', 'under the nonemployee directors program , upon a director 2019s initial election to the board , the director receives an initial grant of stock options or restricted stock units equal to a fair market value on grant date of $ 0.2 million , not to exceed 20000 shares .', 'these grants vest over three years from the date of grant , subject to the director 2019s continued service .', 'in addition , annually each nonemployee director may receive up to 40000 stock options or 16000 restricted stock units of the company 2019s common stock , or a combination thereof , provided that in no event may the total value of the combined annual award exceed $ 0.2 million .', 'these grants generally vest over one year from the date of grant .', 'under the nonemployee directors program , an aggregate of 2.8 million shares of the company 2019s common stock has been authorized for issuance .', 'the company has an employee stock purchase plan for united states employees and a plan for international employees ( collectively 2018 2018espp 2019 2019 ) .', 'under the espp , eligible employees may purchase shares of the company 2019s common stock at 85% ( 85 % ) of the lower of the fair market value of edwards lifesciences common stock on the effective date of subscription or the date of purchase .', 'under the espp , employees can authorize the company to withhold up to 12% ( 12 % ) of their compensation for common stock purchases , subject to certain limitations .', 'the espp is available to all active employees of the company paid from the united states payroll and to eligible employees of the company outside the united states , to the extent permitted by local law .', 'the espp for united states employees is qualified under section 423 of the internal revenue code .', 'the number of shares of common stock authorized for issuance under the espp was 13.8 million shares .', 'the fair value of each option award and employee stock purchase subscription is estimated on the date of grant using the black-scholes option valuation model that uses the assumptions noted in the following tables .', 'the risk-free interest rate is estimated using the u.s .', 'treasury yield curve and is based on the expected term of the award .', 'expected volatility is estimated based on a blend of the weighted-average of the historical volatility of edwards lifesciences 2019 stock and the implied volatility from traded options on edwards lifesciences 2019 stock .', 'the expected term of awards granted is estimated from the vesting period of the award , as well as historical exercise behavior , and represents the period of time that awards granted are expected to be outstanding .', 'the company uses historical data to estimate forfeitures and has estimated an annual forfeiture rate of 6.0% ( 6.0 % ) .', 'the black-scholes option pricing model was used with the following weighted-average assumptions for options granted during the following periods : option awards .']
----
Table:
, 2016, 2015, 2014
average risk-free interest rate, 1.1% ( 1.1 % ), 1.4% ( 1.4 % ), 1.5% ( 1.5 % )
expected dividend yield, none, none, none
expected volatility, 33% ( 33 % ), 30% ( 30 % ), 31% ( 31 % )
expected life ( years ), 4.5, 4.6, 4.6
fair value per share, $ 31.00, $ 18.13, $ 11.75
----
Additional Information: ['.'] | 1.6383 | EW/2016/page_94.pdf-4 | ['edwards lifesciences corporation notes to consolidated financial statements ( continued ) 13 .', 'common stock ( continued ) the company also maintains the nonemployee directors stock incentive compensation program ( the 2018 2018nonemployee directors program 2019 2019 ) .', 'under the nonemployee directors program , upon a director 2019s initial election to the board , the director receives an initial grant of stock options or restricted stock units equal to a fair market value on grant date of $ 0.2 million , not to exceed 20000 shares .', 'these grants vest over three years from the date of grant , subject to the director 2019s continued service .', 'in addition , annually each nonemployee director may receive up to 40000 stock options or 16000 restricted stock units of the company 2019s common stock , or a combination thereof , provided that in no event may the total value of the combined annual award exceed $ 0.2 million .', 'these grants generally vest over one year from the date of grant .', 'under the nonemployee directors program , an aggregate of 2.8 million shares of the company 2019s common stock has been authorized for issuance .', 'the company has an employee stock purchase plan for united states employees and a plan for international employees ( collectively 2018 2018espp 2019 2019 ) .', 'under the espp , eligible employees may purchase shares of the company 2019s common stock at 85% ( 85 % ) of the lower of the fair market value of edwards lifesciences common stock on the effective date of subscription or the date of purchase .', 'under the espp , employees can authorize the company to withhold up to 12% ( 12 % ) of their compensation for common stock purchases , subject to certain limitations .', 'the espp is available to all active employees of the company paid from the united states payroll and to eligible employees of the company outside the united states , to the extent permitted by local law .', 'the espp for united states employees is qualified under section 423 of the internal revenue code .', 'the number of shares of common stock authorized for issuance under the espp was 13.8 million shares .', 'the fair value of each option award and employee stock purchase subscription is estimated on the date of grant using the black-scholes option valuation model that uses the assumptions noted in the following tables .', 'the risk-free interest rate is estimated using the u.s .', 'treasury yield curve and is based on the expected term of the award .', 'expected volatility is estimated based on a blend of the weighted-average of the historical volatility of edwards lifesciences 2019 stock and the implied volatility from traded options on edwards lifesciences 2019 stock .', 'the expected term of awards granted is estimated from the vesting period of the award , as well as historical exercise behavior , and represents the period of time that awards granted are expected to be outstanding .', 'the company uses historical data to estimate forfeitures and has estimated an annual forfeiture rate of 6.0% ( 6.0 % ) .', 'the black-scholes option pricing model was used with the following weighted-average assumptions for options granted during the following periods : option awards .'] | ['.'] | , 2016, 2015, 2014
average risk-free interest rate, 1.1% ( 1.1 % ), 1.4% ( 1.4 % ), 1.5% ( 1.5 % )
expected dividend yield, none, none, none
expected volatility, 33% ( 33 % ), 30% ( 30 % ), 31% ( 31 % )
expected life ( years ), 4.5, 4.6, 4.6
fair value per share, $ 31.00, $ 18.13, $ 11.75 | subtract(31, 11.75), divide(#0, 11.75) | 1.6383 |
what was the average effect , in millions , of the dilutive securities in 2012-14? | Context: ['cdw corporation and subsidiaries notes to consolidated financial statements 2013 denominator was impacted by the common shares issued during both the ipo and the underwriters 2019 exercise in full of the overallotment option granted to them in connection with the ipo .', 'because such common shares were issued on july 2 , 2013 and july 31 , 2013 , respectively , they are only partially reflected in the 2013 denominator .', 'such shares will be fully reflected in the 2014 denominator .', 'see note 9 for additional discussion of the ipo .', 'the dilutive effect of outstanding restricted stock , restricted stock units , stock options and mpk plan units is reflected in the denominator for diluted earnings per share using the treasury stock method .', 'the following is a reconciliation of basic shares to diluted shares: .']
Data Table:
( in millions ) | years ended december 31 , 2013 | years ended december 31 , 2012 | years ended december 31 , 2011
weighted-average shares - basic | 156.6 | 145.1 | 144.8
effect of dilutive securities | 2.1 | 0.7 | 0.1
weighted-average shares - diluted | 158.7 | 145.8 | 144.9
Post-table: ['for the years ended december 31 , 2013 , 2012 and 2011 , diluted earnings per share excludes the impact of 0.0 million , 0.0 million , and 4.3 million potential common shares , respectively , as their inclusion would have had an anti-dilutive effect .', '12 .', 'deferred compensation plan on march 10 , 2010 , in connection with the company 2019s purchase of $ 28.5 million principal amount of its outstanding senior subordinated debt , the company established the restricted debt unit plan ( the 201crdu plan 201d ) , an unfunded nonqualified deferred compensation plan .', 'the total number of rdus that can be granted under the rdu plan is 28500 .', 'at december 31 , 2013 , 28500 rdus were outstanding .', 'rdus that are outstanding vest daily on a pro rata basis over the three-year period from january 1 , 2012 ( or , if later , the date of hire or the date of a subsequent rdu grant ) through december 31 , 2014 .', 'participants have no rights to the underlying debt .', 'the total amount of compensation available to be paid under the rdu plan was initially to be based on two components , a principal component and an interest component .', 'the principal component credits the rdu plan with a notional amount equal to the $ 28.5 million face value of the senior subordinated notes ( the 201cdebt pool 201d ) , together with certain redemption premium equivalents as noted below .', 'the interest component credits the rdu plan with amounts equal to the interest that would have been earned on the debt pool from march 10 , 2010 through maturity on october 12 , 2017 , except as discussed below .', 'interest amounts for 2010 and 2011 were deferred until 2012 , and thereafter , interest amounts were paid to participants semi-annually on the interest payment due dates .', 'payments totaling $ 1.7 million and $ 1.3 million were made to participants under the rdu plan in april and october 2013 , respectively , in connection with the semi-annual interest payments due .', 'the company used a portion of the ipo proceeds together with incremental borrowings to redeem $ 324.0 million of the total senior subordinated notes outstanding on august 1 , 2013 .', 'in connection with the ipo and the partial redemption of the senior subordinated notes , the company amended the rdu plan to increase the retentive value of the plan .', 'in accordance with the original terms of the rdu plan , the principal component of the rdus converted to a cash-denominated pool upon the redemption of the senior subordinated notes .', 'in addition , the company added $ 1.4 million to the principal component in the year ended december 31 , 2013 as redemption premium equivalents in accordance with the terms of the rdu plan .', 'under the terms of the amended rdu plan , upon the partial redemption of outstanding senior subordinated notes , the rdus ceased to accrue the proportionate related interest component credits .', 'the .'] | 0.96667 | CDW/2013/page_106.pdf-2 | ['cdw corporation and subsidiaries notes to consolidated financial statements 2013 denominator was impacted by the common shares issued during both the ipo and the underwriters 2019 exercise in full of the overallotment option granted to them in connection with the ipo .', 'because such common shares were issued on july 2 , 2013 and july 31 , 2013 , respectively , they are only partially reflected in the 2013 denominator .', 'such shares will be fully reflected in the 2014 denominator .', 'see note 9 for additional discussion of the ipo .', 'the dilutive effect of outstanding restricted stock , restricted stock units , stock options and mpk plan units is reflected in the denominator for diluted earnings per share using the treasury stock method .', 'the following is a reconciliation of basic shares to diluted shares: .'] | ['for the years ended december 31 , 2013 , 2012 and 2011 , diluted earnings per share excludes the impact of 0.0 million , 0.0 million , and 4.3 million potential common shares , respectively , as their inclusion would have had an anti-dilutive effect .', '12 .', 'deferred compensation plan on march 10 , 2010 , in connection with the company 2019s purchase of $ 28.5 million principal amount of its outstanding senior subordinated debt , the company established the restricted debt unit plan ( the 201crdu plan 201d ) , an unfunded nonqualified deferred compensation plan .', 'the total number of rdus that can be granted under the rdu plan is 28500 .', 'at december 31 , 2013 , 28500 rdus were outstanding .', 'rdus that are outstanding vest daily on a pro rata basis over the three-year period from january 1 , 2012 ( or , if later , the date of hire or the date of a subsequent rdu grant ) through december 31 , 2014 .', 'participants have no rights to the underlying debt .', 'the total amount of compensation available to be paid under the rdu plan was initially to be based on two components , a principal component and an interest component .', 'the principal component credits the rdu plan with a notional amount equal to the $ 28.5 million face value of the senior subordinated notes ( the 201cdebt pool 201d ) , together with certain redemption premium equivalents as noted below .', 'the interest component credits the rdu plan with amounts equal to the interest that would have been earned on the debt pool from march 10 , 2010 through maturity on october 12 , 2017 , except as discussed below .', 'interest amounts for 2010 and 2011 were deferred until 2012 , and thereafter , interest amounts were paid to participants semi-annually on the interest payment due dates .', 'payments totaling $ 1.7 million and $ 1.3 million were made to participants under the rdu plan in april and october 2013 , respectively , in connection with the semi-annual interest payments due .', 'the company used a portion of the ipo proceeds together with incremental borrowings to redeem $ 324.0 million of the total senior subordinated notes outstanding on august 1 , 2013 .', 'in connection with the ipo and the partial redemption of the senior subordinated notes , the company amended the rdu plan to increase the retentive value of the plan .', 'in accordance with the original terms of the rdu plan , the principal component of the rdus converted to a cash-denominated pool upon the redemption of the senior subordinated notes .', 'in addition , the company added $ 1.4 million to the principal component in the year ended december 31 , 2013 as redemption premium equivalents in accordance with the terms of the rdu plan .', 'under the terms of the amended rdu plan , upon the partial redemption of outstanding senior subordinated notes , the rdus ceased to accrue the proportionate related interest component credits .', 'the .'] | ( in millions ) | years ended december 31 , 2013 | years ended december 31 , 2012 | years ended december 31 , 2011
weighted-average shares - basic | 156.6 | 145.1 | 144.8
effect of dilutive securities | 2.1 | 0.7 | 0.1
weighted-average shares - diluted | 158.7 | 145.8 | 144.9 | add(2.1, 0.7), add(#0, 0.1), divide(#1, const_3) | 0.96667 |
what was the 5 year cumulative total return for the period ending 2014 for edwards lifesciences corporation? | Context: ['12feb201521095992 performance graph the following graph compares the performance of our common stock with that of the s&p 500 index and the s&p 500 healthcare equipment index .', 'the cumulative total return listed below assumes an initial investment of $ 100 on december 31 , 2009 and reinvestment of dividends .', 'comparison of 5 year cumulative total return rs $ 200 2009 2010 2011 201420132012 edwards lifesciences corporation s&p 500 s&p 500 healthcare equipment december 31 .']
Data Table:
========================================
total cumulative return, 2010, 2011, 2012, 2013, 2014
edwards lifesciences, $ 186.16, $ 162.81, $ 207.65, $ 151.43, $ 293.33
s&p 500, 115.06, 117.49, 136.30, 180.44, 205.14
s&p 500 healthcare equipment index, 96.84, 102.07, 120.66, 153.85, 194.33
========================================
Follow-up: ['.'] | 1.9333 | EW/2014/page_35.pdf-1 | ['12feb201521095992 performance graph the following graph compares the performance of our common stock with that of the s&p 500 index and the s&p 500 healthcare equipment index .', 'the cumulative total return listed below assumes an initial investment of $ 100 on december 31 , 2009 and reinvestment of dividends .', 'comparison of 5 year cumulative total return rs $ 200 2009 2010 2011 201420132012 edwards lifesciences corporation s&p 500 s&p 500 healthcare equipment december 31 .'] | ['.'] | ========================================
total cumulative return, 2010, 2011, 2012, 2013, 2014
edwards lifesciences, $ 186.16, $ 162.81, $ 207.65, $ 151.43, $ 293.33
s&p 500, 115.06, 117.49, 136.30, 180.44, 205.14
s&p 500 healthcare equipment index, 96.84, 102.07, 120.66, 153.85, 194.33
======================================== | subtract(293.33, 100), divide(#0, 100) | 1.9333 |
in 2014 what was the total amount of catastrophe reinsurance coverage the company obtained in thousands | Pre-text: ['9 .', 'junior subordinated debt securities payable in accordance with the provisions of the junior subordinated debt securities which were issued on march 29 , 2004 , holdings elected to redeem the $ 329897 thousand of 6.2% ( 6.2 % ) junior subordinated debt securities outstanding on may 24 , 2013 .', 'as a result of the early redemption , the company incurred pre-tax expense of $ 7282 thousand related to the immediate amortization of the remaining capitalized issuance costs on the trust preferred securities .', 'interest expense incurred in connection with these junior subordinated debt securities is as follows for the periods indicated: .']
########
Data Table:
========================================
( dollars in thousands ) | years ended december 31 , 2015 | years ended december 31 , 2014 | years ended december 31 , 2013
----------|----------|----------|----------
interest expense incurred | $ - | $ - | $ 8181
========================================
########
Post-table: ['holdings considered the mechanisms and obligations relating to the trust preferred securities , taken together , constituted a full and unconditional guarantee by holdings of capital trust ii 2019s payment obligations with respect to their trust preferred securities .', '10 .', 'reinsurance and trust agreements certain subsidiaries of group have established trust agreements , which effectively use the company 2019s investments as collateral , as security for assumed losses payable to certain non-affiliated ceding companies .', 'at december 31 , 2015 , the total amount on deposit in trust accounts was $ 454384 thousand .', 'on april 24 , 2014 , the company entered into two collateralized reinsurance agreements with kilimanjaro re limited ( 201ckilimanjaro 201d ) , a bermuda based special purpose reinsurer , to provide the company with catastrophe reinsurance coverage .', 'these agreements are multi-year reinsurance contracts which cover specified named storm and earthquake events .', 'the first agreement provides up to $ 250000 thousand of reinsurance coverage from named storms in specified states of the southeastern united states .', 'the second agreement provides up to $ 200000 thousand of reinsurance coverage from named storms in specified states of the southeast , mid-atlantic and northeast regions of the united states and puerto rico as well as reinsurance coverage from earthquakes in specified states of the southeast , mid-atlantic , northeast and west regions of the united states , puerto rico and british columbia .', 'on november 18 , 2014 , the company entered into a collateralized reinsurance agreement with kilimanjaro re 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 .', 'kilimanjaro has financed the various property catastrophe reinsurance coverage 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 ) .', 'the proceeds from the issuance of the series 2014-1 notes , the series 2014-2 notes and the series 2015-1 notes 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. .'] | 450000.0 | RE/2015/page_131.pdf-3 | ['9 .', 'junior subordinated debt securities payable in accordance with the provisions of the junior subordinated debt securities which were issued on march 29 , 2004 , holdings elected to redeem the $ 329897 thousand of 6.2% ( 6.2 % ) junior subordinated debt securities outstanding on may 24 , 2013 .', 'as a result of the early redemption , the company incurred pre-tax expense of $ 7282 thousand related to the immediate amortization of the remaining capitalized issuance costs on the trust preferred securities .', 'interest expense incurred in connection with these junior subordinated debt securities is as follows for the periods indicated: .'] | ['holdings considered the mechanisms and obligations relating to the trust preferred securities , taken together , constituted a full and unconditional guarantee by holdings of capital trust ii 2019s payment obligations with respect to their trust preferred securities .', '10 .', 'reinsurance and trust agreements certain subsidiaries of group have established trust agreements , which effectively use the company 2019s investments as collateral , as security for assumed losses payable to certain non-affiliated ceding companies .', 'at december 31 , 2015 , the total amount on deposit in trust accounts was $ 454384 thousand .', 'on april 24 , 2014 , the company entered into two collateralized reinsurance agreements with kilimanjaro re limited ( 201ckilimanjaro 201d ) , a bermuda based special purpose reinsurer , to provide the company with catastrophe reinsurance coverage .', 'these agreements are multi-year reinsurance contracts which cover specified named storm and earthquake events .', 'the first agreement provides up to $ 250000 thousand of reinsurance coverage from named storms in specified states of the southeastern united states .', 'the second agreement provides up to $ 200000 thousand of reinsurance coverage from named storms in specified states of the southeast , mid-atlantic and northeast regions of the united states and puerto rico as well as reinsurance coverage from earthquakes in specified states of the southeast , mid-atlantic , northeast and west regions of the united states , puerto rico and british columbia .', 'on november 18 , 2014 , the company entered into a collateralized reinsurance agreement with kilimanjaro re 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 .', 'kilimanjaro has financed the various property catastrophe reinsurance coverage 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 ) .', 'the proceeds from the issuance of the series 2014-1 notes , the series 2014-2 notes and the series 2015-1 notes 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. .'] | ========================================
( dollars in thousands ) | years ended december 31 , 2015 | years ended december 31 , 2014 | years ended december 31 , 2013
----------|----------|----------|----------
interest expense incurred | $ - | $ - | $ 8181
======================================== | add(200000, 250000) | 450000.0 |
what percentage of total active full-time equivalent employees consisted of flight attendants? | Context: ['table of contents other areas in which we do business .', 'depending on the scope of such regulation , certain of our facilities and operations , or the operations of our suppliers , may be subject to additional operating and other permit requirements , potentially resulting in increased operating costs .', 'future regulatory developments future regulatory developments and actions could affect operations and increase operating costs for the airline industry , including our airline subsidiaries .', 'see part i , item 1a .', 'risk factors 2013 201cif we are unable to obtain and maintain adequate facilities and infrastructure throughout our system and , at some airports , adequate slots , we may be unable to operate our existing flight schedule and to expand or change our route network in the future , which may have a material adverse impact on our operations , 201d 201cour business is subject to extensive government regulation , which may result in increases in our costs , disruptions to our operations , limits on our operating flexibility , reductions in the demand for air travel , and competitive disadvantages 201d and 201cwe are subject to many forms of environmental regulation and may incur substantial costs as a result 201d for additional information .', 'employees and labor relations the airline business is labor intensive .', 'in 2015 , salaries , wages and benefits were our largest expenses and represented approximately 31% ( 31 % ) of our operating expenses .', 'the table below presents our approximate number of active full-time equivalent employees as of december 31 , 2015 .', 'mainline operations wholly-owned regional carriers total .']
##
Data Table:
****************************************
, mainline operations, wholly-owned regional carriers, total
pilots and flight crew training instructors, 13100, 3200, 16300
flight attendants, 24100, 1900, 26000
maintenance personnel, 14400, 1800, 16200
fleet service personnel, 16100, 3200, 19300
passenger service personnel, 16500, 7100, 23600
administrative and other, 14700, 2400, 17100
total, 98900, 19600, 118500
****************************************
##
Additional Information: ['.'] | 0.21941 | AAL/2015/page_15.pdf-1 | ['table of contents other areas in which we do business .', 'depending on the scope of such regulation , certain of our facilities and operations , or the operations of our suppliers , may be subject to additional operating and other permit requirements , potentially resulting in increased operating costs .', 'future regulatory developments future regulatory developments and actions could affect operations and increase operating costs for the airline industry , including our airline subsidiaries .', 'see part i , item 1a .', 'risk factors 2013 201cif we are unable to obtain and maintain adequate facilities and infrastructure throughout our system and , at some airports , adequate slots , we may be unable to operate our existing flight schedule and to expand or change our route network in the future , which may have a material adverse impact on our operations , 201d 201cour business is subject to extensive government regulation , which may result in increases in our costs , disruptions to our operations , limits on our operating flexibility , reductions in the demand for air travel , and competitive disadvantages 201d and 201cwe are subject to many forms of environmental regulation and may incur substantial costs as a result 201d for additional information .', 'employees and labor relations the airline business is labor intensive .', 'in 2015 , salaries , wages and benefits were our largest expenses and represented approximately 31% ( 31 % ) of our operating expenses .', 'the table below presents our approximate number of active full-time equivalent employees as of december 31 , 2015 .', 'mainline operations wholly-owned regional carriers total .'] | ['.'] | ****************************************
, mainline operations, wholly-owned regional carriers, total
pilots and flight crew training instructors, 13100, 3200, 16300
flight attendants, 24100, 1900, 26000
maintenance personnel, 14400, 1800, 16200
fleet service personnel, 16100, 3200, 19300
passenger service personnel, 16500, 7100, 23600
administrative and other, 14700, 2400, 17100
total, 98900, 19600, 118500
**************************************** | divide(26000, 118500) | 0.21941 |
what was average percentage for lifo inventories of consolidated inventories for december 31 , 2017 and 2016? | Background: ['cash and cash equivalents cash equivalents include highly-liquid investments with a maturity of three months or less when purchased .', 'accounts receivable and allowance for doubtful accounts accounts receivable are carried at the invoiced amounts , less an allowance for doubtful accounts , and generally do not bear interest .', 'the company estimates the balance of allowance for doubtful accounts by analyzing accounts receivable balances by age and applying historical write-off and collection trend rates .', 'the company 2019s estimates include separately providing for customer receivables based on specific circumstances and credit conditions , and when it is deemed probable that the balance is uncollectible .', 'account balances are written off against the allowance when it is determined the receivable will not be recovered .', 'the company 2019s allowance for doubtful accounts balance also includes an allowance for the expected return of products shipped and credits related to pricing or quantities shipped of $ 15 million , $ 14 million and $ 15 million as of december 31 , 2017 , 2016 , and 2015 , respectively .', 'returns and credit activity is recorded directly to sales as a reduction .', 'the following table summarizes the activity in the allowance for doubtful accounts: .']
------
Data Table:
( millions ), 2017, 2016, 2015
beginning balance, $ 67.6, $ 75.3, $ 77.5
bad debt expense, 17.1, 20.1, 25.8
write-offs, -15.7 ( 15.7 ), -24.6 ( 24.6 ), -21.9 ( 21.9 )
other ( a ), 2.5, -3.2 ( 3.2 ), -6.1 ( 6.1 )
ending balance, $ 71.5, $ 67.6, $ 75.3
------
Follow-up: ['( a ) other amounts are primarily the effects of changes in currency translations and the impact of allowance for returns and credits .', 'inventory valuations inventories are valued at the lower of cost or net realizable value .', 'certain u.s .', 'inventory costs are determined on a last-in , first-out ( 201clifo 201d ) basis .', 'lifo inventories represented 39% ( 39 % ) and 40% ( 40 % ) of consolidated inventories as of december 31 , 2017 and 2016 , respectively .', 'all other inventory costs are determined using either the average cost or first-in , first-out ( 201cfifo 201d ) methods .', 'inventory values at fifo , as shown in note 5 , approximate replacement cost .', 'property , plant and equipment property , plant and equipment assets are stated at cost .', 'merchandising and customer equipment consists principally of various dispensing systems for the company 2019s cleaning and sanitizing products , dishwashing machines and process control and monitoring equipment .', 'certain dispensing systems capitalized by the company are accounted for on a mass asset basis , whereby equipment is capitalized and depreciated as a group and written off when fully depreciated .', 'the company capitalizes both internal and external costs of development or purchase of computer software for internal use .', 'costs incurred for data conversion , training and maintenance associated with capitalized software are expensed as incurred .', 'expenditures for major renewals and improvements , which significantly extend the useful lives of existing plant and equipment , are capitalized and depreciated .', 'expenditures for repairs and maintenance are charged to expense as incurred .', 'upon retirement or disposition of plant and equipment , the cost and related accumulated depreciation are removed from the accounts and any resulting gain or loss is recognized in income .', 'depreciation is charged to operations using the straight-line method over the assets 2019 estimated useful lives ranging from 5 to 40 years for buildings and leasehold improvements , 3 to 20 years for machinery and equipment , 3 to 15 years for merchandising and customer equipment and 3 to 7 years for capitalized software .', 'the straight-line method of depreciation reflects an appropriate allocation of the cost of the assets to earnings in proportion to the amount of economic benefits obtained by the company in each reporting period .', 'depreciation expense was $ 586 million , $ 561 million and $ 560 million for 2017 , 2016 and 2015 , respectively. .'] | 39.5 | ECL/2017/page_68.pdf-4 | ['cash and cash equivalents cash equivalents include highly-liquid investments with a maturity of three months or less when purchased .', 'accounts receivable and allowance for doubtful accounts accounts receivable are carried at the invoiced amounts , less an allowance for doubtful accounts , and generally do not bear interest .', 'the company estimates the balance of allowance for doubtful accounts by analyzing accounts receivable balances by age and applying historical write-off and collection trend rates .', 'the company 2019s estimates include separately providing for customer receivables based on specific circumstances and credit conditions , and when it is deemed probable that the balance is uncollectible .', 'account balances are written off against the allowance when it is determined the receivable will not be recovered .', 'the company 2019s allowance for doubtful accounts balance also includes an allowance for the expected return of products shipped and credits related to pricing or quantities shipped of $ 15 million , $ 14 million and $ 15 million as of december 31 , 2017 , 2016 , and 2015 , respectively .', 'returns and credit activity is recorded directly to sales as a reduction .', 'the following table summarizes the activity in the allowance for doubtful accounts: .'] | ['( a ) other amounts are primarily the effects of changes in currency translations and the impact of allowance for returns and credits .', 'inventory valuations inventories are valued at the lower of cost or net realizable value .', 'certain u.s .', 'inventory costs are determined on a last-in , first-out ( 201clifo 201d ) basis .', 'lifo inventories represented 39% ( 39 % ) and 40% ( 40 % ) of consolidated inventories as of december 31 , 2017 and 2016 , respectively .', 'all other inventory costs are determined using either the average cost or first-in , first-out ( 201cfifo 201d ) methods .', 'inventory values at fifo , as shown in note 5 , approximate replacement cost .', 'property , plant and equipment property , plant and equipment assets are stated at cost .', 'merchandising and customer equipment consists principally of various dispensing systems for the company 2019s cleaning and sanitizing products , dishwashing machines and process control and monitoring equipment .', 'certain dispensing systems capitalized by the company are accounted for on a mass asset basis , whereby equipment is capitalized and depreciated as a group and written off when fully depreciated .', 'the company capitalizes both internal and external costs of development or purchase of computer software for internal use .', 'costs incurred for data conversion , training and maintenance associated with capitalized software are expensed as incurred .', 'expenditures for major renewals and improvements , which significantly extend the useful lives of existing plant and equipment , are capitalized and depreciated .', 'expenditures for repairs and maintenance are charged to expense as incurred .', 'upon retirement or disposition of plant and equipment , the cost and related accumulated depreciation are removed from the accounts and any resulting gain or loss is recognized in income .', 'depreciation is charged to operations using the straight-line method over the assets 2019 estimated useful lives ranging from 5 to 40 years for buildings and leasehold improvements , 3 to 20 years for machinery and equipment , 3 to 15 years for merchandising and customer equipment and 3 to 7 years for capitalized software .', 'the straight-line method of depreciation reflects an appropriate allocation of the cost of the assets to earnings in proportion to the amount of economic benefits obtained by the company in each reporting period .', 'depreciation expense was $ 586 million , $ 561 million and $ 560 million for 2017 , 2016 and 2015 , respectively. .'] | ( millions ), 2017, 2016, 2015
beginning balance, $ 67.6, $ 75.3, $ 77.5
bad debt expense, 17.1, 20.1, 25.8
write-offs, -15.7 ( 15.7 ), -24.6 ( 24.6 ), -21.9 ( 21.9 )
other ( a ), 2.5, -3.2 ( 3.2 ), -6.1 ( 6.1 )
ending balance, $ 71.5, $ 67.6, $ 75.3 | add(39, 40), divide(#0, const_2) | 39.5 |
what is the total value of shares purchased during october 2018? | Background: ['2018 annual report 21 item 3 : legal proceedings snap-on is involved in various legal matters that are being litigated and/or settled in the ordinary course of business .', 'although it is not possible to predict the outcome of these legal matters , management believes that the results of these legal matters will not have a material impact on snap-on 2019s consolidated financial position , results of operations or cash flows .', 'item 4 : mine safety disclosures not applicable .', 'part ii item 5 : market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities snap-on had 55610781 shares of common stock outstanding as of 2018 year end .', 'snap-on 2019s stock is listed on the new york stock exchange under the ticker symbol 201csna . 201d at february 8 , 2019 , there were 4704 registered holders of snap-on common stock .', 'issuer purchases of equity securities the following chart discloses information regarding the shares of snap-on 2019s common stock repurchased by the company during the fourth quarter of fiscal 2018 , all of which were purchased pursuant to the board 2019s authorizations that the company has publicly announced .', 'snap-on has undertaken stock repurchases from time to time to offset dilution created by shares issued for employee and franchisee stock purchase plans , and equity plans , and for other corporate purposes , as well as when the company believes market conditions are favorable .', 'the repurchase of snap-on common stock is at the company 2019s discretion , subject to prevailing financial and market conditions .', 'period shares purchased average price per share shares purchased as part of publicly announced plans or programs approximate value of shares that may yet be purchased under publicly announced plans or programs* .']
Table:
****************************************
period sharespurchased average priceper share shares purchased aspart of publiclyannounced plans orprograms approximatevalue of sharesthat may yet bepurchased underpubliclyannounced plansor programs*
09/30/18 to 10/27/18 90000 $ 149.28 90000 $ 292.4 million
10/28/18 to 11/24/18 335000 $ 159.35 335000 $ 239.1 million
11/25/18 to 12/29/18 205000 $ 160.20 205000 $ 215.7 million
total/average 630000 $ 158.19 630000 n/a
****************************************
Additional Information: ['______________________ n/a : not applicable * subject to further adjustment pursuant to the 1996 authorization described below , as of december 29 , 2018 , the approximate value of shares that may yet be purchased pursuant to the outstanding board authorizations discussed below is $ 215.7 million .', '2022 in 1996 , the board authorized the company to repurchase shares of the company 2019s common stock from time to time in the open market or in privately negotiated transactions ( 201cthe 1996 authorization 201d ) .', 'the 1996 authorization allows the repurchase of up to the number of shares issued or delivered from treasury from time to time under the various plans the company has in place that call for the issuance of the company 2019s common stock .', 'because the number of shares that are purchased pursuant to the 1996 authorization will change from time to time as ( i ) the company issues shares under its various plans ; and ( ii ) shares are repurchased pursuant to this authorization , the number of shares authorized to be repurchased will vary from time to time .', 'the 1996 authorization will expire when terminated by the board .', 'when calculating the approximate value of shares that the company may yet purchase under the 1996 authorization , the company assumed a price of $ 148.71 , $ 161.00 and $ 144.25 per share of common stock as of the end of the fiscal 2018 months ended october 27 , 2018 , november 24 , 2018 , and december 29 , 2018 , respectively .', '2022 in 2017 , the board authorized the repurchase of an aggregate of up to $ 500 million of the company 2019s common stock ( 201cthe 2017 authorization 201d ) .', 'the 2017 authorization will expire when the aggregate repurchase price limit is met , unless terminated earlier by the board. .'] | 13435200.0 | SNA/2018/page_31.pdf-2 | ['2018 annual report 21 item 3 : legal proceedings snap-on is involved in various legal matters that are being litigated and/or settled in the ordinary course of business .', 'although it is not possible to predict the outcome of these legal matters , management believes that the results of these legal matters will not have a material impact on snap-on 2019s consolidated financial position , results of operations or cash flows .', 'item 4 : mine safety disclosures not applicable .', 'part ii item 5 : market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities snap-on had 55610781 shares of common stock outstanding as of 2018 year end .', 'snap-on 2019s stock is listed on the new york stock exchange under the ticker symbol 201csna . 201d at february 8 , 2019 , there were 4704 registered holders of snap-on common stock .', 'issuer purchases of equity securities the following chart discloses information regarding the shares of snap-on 2019s common stock repurchased by the company during the fourth quarter of fiscal 2018 , all of which were purchased pursuant to the board 2019s authorizations that the company has publicly announced .', 'snap-on has undertaken stock repurchases from time to time to offset dilution created by shares issued for employee and franchisee stock purchase plans , and equity plans , and for other corporate purposes , as well as when the company believes market conditions are favorable .', 'the repurchase of snap-on common stock is at the company 2019s discretion , subject to prevailing financial and market conditions .', 'period shares purchased average price per share shares purchased as part of publicly announced plans or programs approximate value of shares that may yet be purchased under publicly announced plans or programs* .'] | ['______________________ n/a : not applicable * subject to further adjustment pursuant to the 1996 authorization described below , as of december 29 , 2018 , the approximate value of shares that may yet be purchased pursuant to the outstanding board authorizations discussed below is $ 215.7 million .', '2022 in 1996 , the board authorized the company to repurchase shares of the company 2019s common stock from time to time in the open market or in privately negotiated transactions ( 201cthe 1996 authorization 201d ) .', 'the 1996 authorization allows the repurchase of up to the number of shares issued or delivered from treasury from time to time under the various plans the company has in place that call for the issuance of the company 2019s common stock .', 'because the number of shares that are purchased pursuant to the 1996 authorization will change from time to time as ( i ) the company issues shares under its various plans ; and ( ii ) shares are repurchased pursuant to this authorization , the number of shares authorized to be repurchased will vary from time to time .', 'the 1996 authorization will expire when terminated by the board .', 'when calculating the approximate value of shares that the company may yet purchase under the 1996 authorization , the company assumed a price of $ 148.71 , $ 161.00 and $ 144.25 per share of common stock as of the end of the fiscal 2018 months ended october 27 , 2018 , november 24 , 2018 , and december 29 , 2018 , respectively .', '2022 in 2017 , the board authorized the repurchase of an aggregate of up to $ 500 million of the company 2019s common stock ( 201cthe 2017 authorization 201d ) .', 'the 2017 authorization will expire when the aggregate repurchase price limit is met , unless terminated earlier by the board. .'] | ****************************************
period sharespurchased average priceper share shares purchased aspart of publiclyannounced plans orprograms approximatevalue of sharesthat may yet bepurchased underpubliclyannounced plansor programs*
09/30/18 to 10/27/18 90000 $ 149.28 90000 $ 292.4 million
10/28/18 to 11/24/18 335000 $ 159.35 335000 $ 239.1 million
11/25/18 to 12/29/18 205000 $ 160.20 205000 $ 215.7 million
total/average 630000 $ 158.19 630000 n/a
**************************************** | multiply(90000, 149.28) | 13435200.0 |
in millions , what are the st investments due between two and three years and due after three years? | Background: ['table of contents totaled an absolute notional equivalent of $ 292.3 million and $ 190.5 million , respectively , with the year-over-year increase primarily driven by earnings growth .', 'at this time , we do not hedge these long-term investment exposures .', 'we do not use foreign exchange contracts for speculative trading purposes , nor do we hedge our foreign currency exposure in a manner that entirely offsets the effects of changes in foreign exchange rates .', 'we regularly review our hedging program and assess the need to utilize financial instruments to hedge currency exposures on an ongoing basis .', 'cash flow hedging 2014hedges of forecasted foreign currency revenue we may use foreign exchange purchased options or forward contracts to hedge foreign currency revenue denominated in euros , british pounds and japanese yen .', 'we hedge these cash flow exposures to reduce the risk that our earnings and cash flows will be adversely affected by changes in exchange rates .', 'these foreign exchange contracts , carried at fair value , may have maturities between one and twelve months .', 'we enter into these foreign exchange contracts to hedge forecasted revenue in the normal course of business and accordingly , they are not speculative in nature .', 'we record changes in the intrinsic value of these cash flow hedges in accumulated other comprehensive income ( loss ) until the forecasted transaction occurs .', 'when the forecasted transaction occurs , we reclassify the related gain or loss on the cash flow hedge to revenue .', 'in the event the underlying forecasted transaction does not occur , or it becomes probable that it will not occur , we reclassify the gain or loss on the related cash flow hedge from accumulated other comprehensive income ( loss ) to interest and other income , net on our consolidated statements of income at that time .', 'for the fiscal year ended november 30 , 2018 , there were no net gains or losses recognized in other income relating to hedges of forecasted transactions that did not occur .', 'balance sheet hedging 2014hedging of foreign currency assets and liabilities we hedge exposures related to our net recognized foreign currency assets and liabilities with foreign exchange forward contracts to reduce the risk that our earnings and cash flows will be adversely affected by changes in foreign currency exchange rates .', 'these foreign exchange contracts are carried at fair value with changes in the fair value recorded as interest and other income , net .', 'these foreign exchange contracts do not subject us to material balance sheet risk due to exchange rate movements because gains and losses on these contracts are intended to offset gains and losses on the assets and liabilities being hedged .', 'at november 30 , 2018 , the outstanding balance sheet hedging derivatives had maturities of 180 days or less .', 'see note 5 of our notes to consolidated financial statements for information regarding our hedging activities .', 'interest rate risk short-term investments and fixed income securities at november 30 , 2018 , we had debt securities classified as short-term investments of $ 1.59 billion .', 'changes in interest rates could adversely affect the market value of these investments .', 'the following table separates these investments , based on stated maturities , to show the approximate exposure to interest rates ( in millions ) : .']
Tabular Data:
----------------------------------------
due within one year $ 612.1
due between one and two years 564.2
due between two and three years 282.2
due after three years 127.7
total $ 1586.2
----------------------------------------
Additional Information: ['a sensitivity analysis was performed on our investment portfolio as of november 30 , 2018 .', 'the analysis is based on an estimate of the hypothetical changes in market value of the portfolio that would result from an immediate parallel shift in the yield curve of various magnitudes. .'] | 409.9 | ADBE/2018/page_54.pdf-3 | ['table of contents totaled an absolute notional equivalent of $ 292.3 million and $ 190.5 million , respectively , with the year-over-year increase primarily driven by earnings growth .', 'at this time , we do not hedge these long-term investment exposures .', 'we do not use foreign exchange contracts for speculative trading purposes , nor do we hedge our foreign currency exposure in a manner that entirely offsets the effects of changes in foreign exchange rates .', 'we regularly review our hedging program and assess the need to utilize financial instruments to hedge currency exposures on an ongoing basis .', 'cash flow hedging 2014hedges of forecasted foreign currency revenue we may use foreign exchange purchased options or forward contracts to hedge foreign currency revenue denominated in euros , british pounds and japanese yen .', 'we hedge these cash flow exposures to reduce the risk that our earnings and cash flows will be adversely affected by changes in exchange rates .', 'these foreign exchange contracts , carried at fair value , may have maturities between one and twelve months .', 'we enter into these foreign exchange contracts to hedge forecasted revenue in the normal course of business and accordingly , they are not speculative in nature .', 'we record changes in the intrinsic value of these cash flow hedges in accumulated other comprehensive income ( loss ) until the forecasted transaction occurs .', 'when the forecasted transaction occurs , we reclassify the related gain or loss on the cash flow hedge to revenue .', 'in the event the underlying forecasted transaction does not occur , or it becomes probable that it will not occur , we reclassify the gain or loss on the related cash flow hedge from accumulated other comprehensive income ( loss ) to interest and other income , net on our consolidated statements of income at that time .', 'for the fiscal year ended november 30 , 2018 , there were no net gains or losses recognized in other income relating to hedges of forecasted transactions that did not occur .', 'balance sheet hedging 2014hedging of foreign currency assets and liabilities we hedge exposures related to our net recognized foreign currency assets and liabilities with foreign exchange forward contracts to reduce the risk that our earnings and cash flows will be adversely affected by changes in foreign currency exchange rates .', 'these foreign exchange contracts are carried at fair value with changes in the fair value recorded as interest and other income , net .', 'these foreign exchange contracts do not subject us to material balance sheet risk due to exchange rate movements because gains and losses on these contracts are intended to offset gains and losses on the assets and liabilities being hedged .', 'at november 30 , 2018 , the outstanding balance sheet hedging derivatives had maturities of 180 days or less .', 'see note 5 of our notes to consolidated financial statements for information regarding our hedging activities .', 'interest rate risk short-term investments and fixed income securities at november 30 , 2018 , we had debt securities classified as short-term investments of $ 1.59 billion .', 'changes in interest rates could adversely affect the market value of these investments .', 'the following table separates these investments , based on stated maturities , to show the approximate exposure to interest rates ( in millions ) : .'] | ['a sensitivity analysis was performed on our investment portfolio as of november 30 , 2018 .', 'the analysis is based on an estimate of the hypothetical changes in market value of the portfolio that would result from an immediate parallel shift in the yield curve of various magnitudes. .'] | ----------------------------------------
due within one year $ 612.1
due between one and two years 564.2
due between two and three years 282.2
due after three years 127.7
total $ 1586.2
---------------------------------------- | add(282.2, 127.7) | 409.9 |
based on the review of the restricted stock , restricted stock units , and performance shares activity for 2017 what was the percentage change on the outstanding stock | Pre-text: ['in 2017 , the company granted 440076 shares of restricted class a common stock and 7568 shares of restricted stock units .', 'restricted common stock and restricted stock units generally have a vesting period of two to four years .', 'the fair value related to these grants was $ 58.7 million , which is recognized as compensation expense on an accelerated basis over the vesting period .', 'dividends are accrued on restricted class a common stock and restricted stock units and are paid once the restricted stock vests .', 'in 2017 , the company also granted 203298 performance shares .', 'the fair value related to these grants was $ 25.3 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 2017 : number of shares weighted average grant date fair value .']
##
Table:
----------------------------------------
• , number of shares, weightedaveragegrant datefair value
• outstanding at december 31 2016, 1820578, $ 98
• granted, 650942, 129
• vested, -510590 ( 510590 ), 87
• cancelled, -401699 ( 401699 ), 95
• outstanding at december 31 2017, 1559231, 116
----------------------------------------
##
Follow-up: ['the total fair value of restricted stock , restricted stock units , and performance shares that vested during 2017 , 2016 and 2015 was $ 66.0 million , $ 59.8 million and $ 43.3 million , respectively .', 'under the espp , 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 2017 , 2016 and 2015 , a total of 19936 , 19858 and 19756 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 $ 0.3 million for the purchase discount was recognized in 2017 , and $ 0.2 million was recognized in both 2016 and 2015 .', 'non-executive directors receive an annual award of class a common stock with a value equal to $ 100000 .', 'non-executive directors may also elect to receive some or all of the cash portion of their annual stipend , up to $ 60000 , in shares of stock based on the closing price at the date of distribution .', 'as a result , 19736 shares , 26439 shares and 25853 shares of class a common stock were issued to non-executive directors during 2017 , 2016 and 2015 , respectively .', 'these shares are not subject to any vesting restrictions .', 'expense of $ 2.5 million , $ 2.4 million and $ 2.5 million related to these stock-based payments was recognized for the years ended december 31 , 2017 , 2016 and 2015 , respectively. .'] | -0.14355 | CME/2017/page_99.pdf-6 | ['in 2017 , the company granted 440076 shares of restricted class a common stock and 7568 shares of restricted stock units .', 'restricted common stock and restricted stock units generally have a vesting period of two to four years .', 'the fair value related to these grants was $ 58.7 million , which is recognized as compensation expense on an accelerated basis over the vesting period .', 'dividends are accrued on restricted class a common stock and restricted stock units and are paid once the restricted stock vests .', 'in 2017 , the company also granted 203298 performance shares .', 'the fair value related to these grants was $ 25.3 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 2017 : number of shares weighted average grant date fair value .'] | ['the total fair value of restricted stock , restricted stock units , and performance shares that vested during 2017 , 2016 and 2015 was $ 66.0 million , $ 59.8 million and $ 43.3 million , respectively .', 'under the espp , 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 2017 , 2016 and 2015 , a total of 19936 , 19858 and 19756 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 $ 0.3 million for the purchase discount was recognized in 2017 , and $ 0.2 million was recognized in both 2016 and 2015 .', 'non-executive directors receive an annual award of class a common stock with a value equal to $ 100000 .', 'non-executive directors may also elect to receive some or all of the cash portion of their annual stipend , up to $ 60000 , in shares of stock based on the closing price at the date of distribution .', 'as a result , 19736 shares , 26439 shares and 25853 shares of class a common stock were issued to non-executive directors during 2017 , 2016 and 2015 , respectively .', 'these shares are not subject to any vesting restrictions .', 'expense of $ 2.5 million , $ 2.4 million and $ 2.5 million related to these stock-based payments was recognized for the years ended december 31 , 2017 , 2016 and 2015 , respectively. .'] | ----------------------------------------
• , number of shares, weightedaveragegrant datefair value
• outstanding at december 31 2016, 1820578, $ 98
• granted, 650942, 129
• vested, -510590 ( 510590 ), 87
• cancelled, -401699 ( 401699 ), 95
• outstanding at december 31 2017, 1559231, 116
---------------------------------------- | subtract(1559231, 1820578), divide(#0, 1820578) | -0.14355 |
what was the percent of growth of the sales revenues of apparel from 2013 to 2014 | Context: ['other expense , net increased $ 0.8 million to $ 7.2 million in 2015 from $ 6.4 million in 2014 .', 'this increase was due to higher net losses on the combined foreign currency exchange rate changes on transactions denominated in foreign currencies and our foreign currency derivative financial instruments in 2015 .', 'provision for income taxes increased $ 19.9 million to $ 154.1 million in 2015 from $ 134.2 million in 2014 .', 'our effective tax rate was 39.9% ( 39.9 % ) in 2015 compared to 39.2% ( 39.2 % ) in 2014 .', 'our effective tax rate for 2015 was higher than the effective tax rate for 2014 primarily due to increased non-deductible costs incurred in connection with our connected fitness acquisitions in 2015 .', 'year ended december 31 , 2014 compared to year ended december 31 , 2013 net revenues increased $ 752.3 million , or 32.3% ( 32.3 % ) , to $ 3084.4 million in 2014 from $ 2332.1 million in 2013 .', 'net revenues by product category are summarized below: .']
--------
Tabular Data:
----------------------------------------
• ( in thousands ), year ended december 31 , 2014, year ended december 31 , 2013, year ended december 31 , $ change, year ended december 31 , % ( % ) change
• apparel, $ 2291520, $ 1762150, $ 529370, 30.0% ( 30.0 % )
• footwear, 430987, 298825, 132162, 44.2
• accessories, 275409, 216098, 59311, 27.4
• total net sales, 2997916, 2277073, 720843, 31.7
• license revenues, 67229, 53910, 13319, 24.7
• connected fitness, 19225, 1068, 18157, 1700.1
• total net revenues, $ 3084370, $ 2332051, $ 752319, 32.3% ( 32.3 % )
----------------------------------------
--------
Post-table: ['the increase in net sales were driven primarily by : 2022 apparel unit sales growth and new offerings in multiple lines led by training , hunt and golf ; and 2022 footwear unit sales growth , led by running and basketball .', 'license revenues increased $ 13.3 million , or 24.7% ( 24.7 % ) , to $ 67.2 million in 2014 from $ 53.9 million in 2013 .', 'this increase in license revenues was primarily a result of increased distribution and continued unit volume growth by our licensees .', 'connected fitness revenue increased $ 18.1 million to $ 19.2 million in 2014 from $ 1.1 million in 2013 primarily due to a full year of revenue from our connected fitness business in 2014 compared to one month in gross profit increased $ 375.5 million to $ 1512.2 million in 2014 from $ 1136.7 million in 2013 .', 'gross profit as a percentage of net revenues , or gross margin , increased 30 basis points to 49.0% ( 49.0 % ) in 2014 compared to 48.7% ( 48.7 % ) in 2013 .', 'the increase in gross margin percentage was primarily driven by the following : 2022 approximate 20 basis point increase driven primarily by decreased sales mix of excess inventory through our factory house outlet stores ; and 2022 approximate 20 basis point increase as a result of higher duty costs recorded during the prior year on certain products imported in previous years .', 'the above increases were partially offset by : 2022 approximate 10 basis point decrease by unfavorable foreign currency exchange rate fluctuations. .'] | 0.30041 | UA/2015/page_42.pdf-2 | ['other expense , net increased $ 0.8 million to $ 7.2 million in 2015 from $ 6.4 million in 2014 .', 'this increase was due to higher net losses on the combined foreign currency exchange rate changes on transactions denominated in foreign currencies and our foreign currency derivative financial instruments in 2015 .', 'provision for income taxes increased $ 19.9 million to $ 154.1 million in 2015 from $ 134.2 million in 2014 .', 'our effective tax rate was 39.9% ( 39.9 % ) in 2015 compared to 39.2% ( 39.2 % ) in 2014 .', 'our effective tax rate for 2015 was higher than the effective tax rate for 2014 primarily due to increased non-deductible costs incurred in connection with our connected fitness acquisitions in 2015 .', 'year ended december 31 , 2014 compared to year ended december 31 , 2013 net revenues increased $ 752.3 million , or 32.3% ( 32.3 % ) , to $ 3084.4 million in 2014 from $ 2332.1 million in 2013 .', 'net revenues by product category are summarized below: .'] | ['the increase in net sales were driven primarily by : 2022 apparel unit sales growth and new offerings in multiple lines led by training , hunt and golf ; and 2022 footwear unit sales growth , led by running and basketball .', 'license revenues increased $ 13.3 million , or 24.7% ( 24.7 % ) , to $ 67.2 million in 2014 from $ 53.9 million in 2013 .', 'this increase in license revenues was primarily a result of increased distribution and continued unit volume growth by our licensees .', 'connected fitness revenue increased $ 18.1 million to $ 19.2 million in 2014 from $ 1.1 million in 2013 primarily due to a full year of revenue from our connected fitness business in 2014 compared to one month in gross profit increased $ 375.5 million to $ 1512.2 million in 2014 from $ 1136.7 million in 2013 .', 'gross profit as a percentage of net revenues , or gross margin , increased 30 basis points to 49.0% ( 49.0 % ) in 2014 compared to 48.7% ( 48.7 % ) in 2013 .', 'the increase in gross margin percentage was primarily driven by the following : 2022 approximate 20 basis point increase driven primarily by decreased sales mix of excess inventory through our factory house outlet stores ; and 2022 approximate 20 basis point increase as a result of higher duty costs recorded during the prior year on certain products imported in previous years .', 'the above increases were partially offset by : 2022 approximate 10 basis point decrease by unfavorable foreign currency exchange rate fluctuations. .'] | ----------------------------------------
• ( in thousands ), year ended december 31 , 2014, year ended december 31 , 2013, year ended december 31 , $ change, year ended december 31 , % ( % ) change
• apparel, $ 2291520, $ 1762150, $ 529370, 30.0% ( 30.0 % )
• footwear, 430987, 298825, 132162, 44.2
• accessories, 275409, 216098, 59311, 27.4
• total net sales, 2997916, 2277073, 720843, 31.7
• license revenues, 67229, 53910, 13319, 24.7
• connected fitness, 19225, 1068, 18157, 1700.1
• total net revenues, $ 3084370, $ 2332051, $ 752319, 32.3% ( 32.3 % )
---------------------------------------- | subtract(2291520, 1762150), divide(#0, 1762150) | 0.30041 |
what is the growth rate in direct amount from 2009 to 2010? | Pre-text: ['s c h e d u l e i v ace limited and subsidiaries s u p p l e m e n t a l i n f o r m a t i o n c o n c e r n i n g r e i n s u r a n c e premiums earned for the years ended december 31 , 2010 , 2009 , and 2008 ( in millions of u.s .', 'dollars , except for percentages ) direct amount ceded to companies assumed from other companies net amount percentage of amount assumed to .']
--------
Data Table:
========================================
for the years ended december 31 2010 2009 and 2008 ( in millions of u.s . dollars except for percentages ) | directamount | ceded to other companies | assumed from other companies | net amount | percentage of amount assumed to net
2010 | $ 15780 | $ 5792 | $ 3516 | $ 13504 | 26% ( 26 % )
2009 | $ 15415 | $ 5943 | $ 3768 | $ 13240 | 28% ( 28 % )
2008 | $ 16087 | $ 6144 | $ 3260 | $ 13203 | 25% ( 25 % )
========================================
--------
Post-table: ['.'] | 0.02368 | CB/2010/page_212.pdf-3 | ['s c h e d u l e i v ace limited and subsidiaries s u p p l e m e n t a l i n f o r m a t i o n c o n c e r n i n g r e i n s u r a n c e premiums earned for the years ended december 31 , 2010 , 2009 , and 2008 ( in millions of u.s .', 'dollars , except for percentages ) direct amount ceded to companies assumed from other companies net amount percentage of amount assumed to .'] | ['.'] | ========================================
for the years ended december 31 2010 2009 and 2008 ( in millions of u.s . dollars except for percentages ) | directamount | ceded to other companies | assumed from other companies | net amount | percentage of amount assumed to net
2010 | $ 15780 | $ 5792 | $ 3516 | $ 13504 | 26% ( 26 % )
2009 | $ 15415 | $ 5943 | $ 3768 | $ 13240 | 28% ( 28 % )
2008 | $ 16087 | $ 6144 | $ 3260 | $ 13203 | 25% ( 25 % )
======================================== | subtract(15780, 15415), divide(#0, 15415) | 0.02368 |
considering the year 2015 , what is the impact of the large market among the same store portfolio? | Background: ['the increase in property operating expenses from our large market same store group is primarily the result of increases in real estate taxes of $ 3.2 million , personnel expenses of $ 1.9 million , water expenses of approximately $ 1.0 million , cable expenses of $ 0.5 million , and waste removal expenses of $ 0.2 million .', 'the increase in property operating expenses from our secondary market same store group is primarily a result of increases in other operating expenses of $ 1.5 million , real estate taxes of $ 1.1 million , and personnel expenses of $ 1.2 million .', 'the decrease in property operating expenses from our non-same store and other group is primarily the result of decreases in personnel expenses of $ 2.4 million and utility expenses of $ 1.7 million .', 'depreciation and amortization the following table shows our depreciation and amortization expense by segment for the years ended december 31 , 2015 and december 31 , 2014 ( dollars in thousands ) : year ended december 31 , 2015 year ended december 31 , 2014 increase percentage increase .']
####
Tabular Data:
****************************************
| year ended december 31 2015 | year ended december 31 2014 | increase | percentage increase
----------|----------|----------|----------|----------
large market same store | $ 168872 | $ 174957 | $ -6085 ( 6085 ) | ( 3.5 ) % ( % )
secondary market same store | 85008 | 86058 | -1050 ( 1050 ) | ( 1.2 ) % ( % )
same store portfolio | 253880 | 261015 | -7135 ( 7135 ) | ( 2.7 ) % ( % )
non-same store and other | 40640 | 40797 | -157 ( 157 ) | ( 0.4 ) % ( % )
total | $ 294520 | $ 301812 | $ -7292 ( 7292 ) | ( 2.4 ) % ( % )
****************************************
####
Follow-up: ['the decrease in depreciation and amortization expense is primarily due to a decrease of $ 19.4 million related to the amortization of the fair value of in-place leases and resident relationships acquired as a result of the merger from the year ended december 31 , 2014 to the year ended december 31 , 2015 .', 'this decrease was partially offset by an increase in depreciation expense of $ 11.7 million driven by an increase in gross real estate assets from the year ended december 31 , 2014 to the year ended december 31 , 2015 .', 'property management expenses property management expenses for the year ended december 31 , 2015 were approximately $ 31.0 million , a decrease of $ 1.1 million from the year ended december 31 , 2014 .', 'the majority of the decrease was related to a decrease in state franchise taxes of $ 2.1 million , partially offset by an increase in insurance expense of $ 0.6 million , an increase in payroll expense of $ 0.3 million , and an increase in incentive expense $ 0.3 million .', 'general and administrative expenses general and administrative expenses for the year ended december 31 , 2015 were approximately $ 25.7 million , an increase of $ 4.8 million from the year ended december 31 , 2014 .', 'the majority of the increase was related to increases in legal fees of $ 2.7 million and stock option expenses of $ 1.6 million .', 'merger and integration related expenses there were no merger or integration related expenses for the year ended december 31 , 2015 , as these expenses related primarily to severance , legal , professional , temporary systems , staffing , and facilities costs incurred for the acquisition and integration of colonial .', 'for the year ended december 31 , 2014 , merger and integration related expenses were approximately $ 3.2 million and $ 8.4 million , respectively .', 'interest expense interest expense for the year ended december 31 , 2015 was approximately $ 122.3 million , a decrease of $ 1.6 million from the year ended december 31 , 2014 .', 'the decrease was primarily the result of a decrease in amortization of deferred financing cost from the year ended december 31 , 2014 to the year ended december 31 , 2015 of approximately $ 0.9 million .', 'also , the overall debt balance decreased from $ 3.5 billion to $ 3.4 billion , a decrease of $ 85.1 million .', 'the average effective interest rate remained at 3.7% ( 3.7 % ) and the average years to rate maturity increased from 4.4 years to 4.8 years .', 'job title mid-america apartment 10-k revision 1 serial <12345678> date sunday , march 20 , 2016 job number 304352-1 type page no .', '50 operator abigaels .'] | 0.66516 | MAA/2015/page_56.pdf-3 | ['the increase in property operating expenses from our large market same store group is primarily the result of increases in real estate taxes of $ 3.2 million , personnel expenses of $ 1.9 million , water expenses of approximately $ 1.0 million , cable expenses of $ 0.5 million , and waste removal expenses of $ 0.2 million .', 'the increase in property operating expenses from our secondary market same store group is primarily a result of increases in other operating expenses of $ 1.5 million , real estate taxes of $ 1.1 million , and personnel expenses of $ 1.2 million .', 'the decrease in property operating expenses from our non-same store and other group is primarily the result of decreases in personnel expenses of $ 2.4 million and utility expenses of $ 1.7 million .', 'depreciation and amortization the following table shows our depreciation and amortization expense by segment for the years ended december 31 , 2015 and december 31 , 2014 ( dollars in thousands ) : year ended december 31 , 2015 year ended december 31 , 2014 increase percentage increase .'] | ['the decrease in depreciation and amortization expense is primarily due to a decrease of $ 19.4 million related to the amortization of the fair value of in-place leases and resident relationships acquired as a result of the merger from the year ended december 31 , 2014 to the year ended december 31 , 2015 .', 'this decrease was partially offset by an increase in depreciation expense of $ 11.7 million driven by an increase in gross real estate assets from the year ended december 31 , 2014 to the year ended december 31 , 2015 .', 'property management expenses property management expenses for the year ended december 31 , 2015 were approximately $ 31.0 million , a decrease of $ 1.1 million from the year ended december 31 , 2014 .', 'the majority of the decrease was related to a decrease in state franchise taxes of $ 2.1 million , partially offset by an increase in insurance expense of $ 0.6 million , an increase in payroll expense of $ 0.3 million , and an increase in incentive expense $ 0.3 million .', 'general and administrative expenses general and administrative expenses for the year ended december 31 , 2015 were approximately $ 25.7 million , an increase of $ 4.8 million from the year ended december 31 , 2014 .', 'the majority of the increase was related to increases in legal fees of $ 2.7 million and stock option expenses of $ 1.6 million .', 'merger and integration related expenses there were no merger or integration related expenses for the year ended december 31 , 2015 , as these expenses related primarily to severance , legal , professional , temporary systems , staffing , and facilities costs incurred for the acquisition and integration of colonial .', 'for the year ended december 31 , 2014 , merger and integration related expenses were approximately $ 3.2 million and $ 8.4 million , respectively .', 'interest expense interest expense for the year ended december 31 , 2015 was approximately $ 122.3 million , a decrease of $ 1.6 million from the year ended december 31 , 2014 .', 'the decrease was primarily the result of a decrease in amortization of deferred financing cost from the year ended december 31 , 2014 to the year ended december 31 , 2015 of approximately $ 0.9 million .', 'also , the overall debt balance decreased from $ 3.5 billion to $ 3.4 billion , a decrease of $ 85.1 million .', 'the average effective interest rate remained at 3.7% ( 3.7 % ) and the average years to rate maturity increased from 4.4 years to 4.8 years .', 'job title mid-america apartment 10-k revision 1 serial <12345678> date sunday , march 20 , 2016 job number 304352-1 type page no .', '50 operator abigaels .'] | ****************************************
| year ended december 31 2015 | year ended december 31 2014 | increase | percentage increase
----------|----------|----------|----------|----------
large market same store | $ 168872 | $ 174957 | $ -6085 ( 6085 ) | ( 3.5 ) % ( % )
secondary market same store | 85008 | 86058 | -1050 ( 1050 ) | ( 1.2 ) % ( % )
same store portfolio | 253880 | 261015 | -7135 ( 7135 ) | ( 2.7 ) % ( % )
non-same store and other | 40640 | 40797 | -157 ( 157 ) | ( 0.4 ) % ( % )
total | $ 294520 | $ 301812 | $ -7292 ( 7292 ) | ( 2.4 ) % ( % )
**************************************** | divide(168872, 253880) | 0.66516 |
what percentage of doors in the wholesale segment as of march 29 , 2014 where in asia ? | Background: ['our wholesale segment our wholesale segment sells our products to leading upscale and certain mid-tier department stores , specialty stores , and golf and pro shops , both domestically and internationally .', 'we have continued to focus on elevating our brand by improving in- store product assortment and presentation , as well as full-price sell-throughs to consumers .', 'as of the end of fiscal 2014 , our ralph lauren-branded products were sold through over 11000 doors worldwide and we invested $ 53 million of capital in related shop- within-shops primarily in domestic and international department and specialty stores .', 'our products are also sold through the e- commerce sites of certain of our wholesale customers .', 'the primary product offerings sold through our wholesale channels of distribution include menswear , womenswear , childrenswear , accessories , and home furnishings .', "our collection brands 2014 ralph lauren women's collection and black label and men's purple label and black label 2014 are distributed worldwide through a limited number of premier fashion retailers .", 'department stores are our major wholesale customers in north america .', 'in latin america , our wholesale products are sold in department stores and specialty stores .', 'in europe , our wholesale sales are a varying mix of sales to both department stores and specialty stores , depending on the country .', "in japan , our wholesale products are distributed primarily through shop-within-shops at premier and top-tier department stores , and the mix of business is weighted to men's and women's blue label .", "in the greater china and southeast asia region and australia , our wholesale products are sold mainly at mid and top-tier department stores , and the mix of business is primarily weighted to men's and women's blue label .", 'we also distribute product to certain licensed stores operated by our partners in latin america , europe , and asia .', 'in addition , our club monaco products are distributed through select department stores and specialty stores in europe .', 'we sell the majority of our excess and out-of-season products through secondary distribution channels worldwide , including our retail factory stores .', 'worldwide distribution channels the following table presents the number of doors by geographic location in which ralph lauren-branded products distributed by our wholesale segment were sold to consumers in our primary channels of distribution as of march 29 , 2014: .']
####
Table:
****************************************
location | number of doors
----------|----------
the americas ( a ) | 6459
europe | 4864
asia ( b ) | 130
total | 11453
****************************************
####
Follow-up: ['( a ) includes the u.s. , canada , and latin america .', '( b ) includes australia , china , japan , the philippines , and thailand .', 'in addition , chaps-branded products distributed by our wholesale segment were sold domestically through approximately 2800 doors as of march 29 , 2014 .', 'we have three key wholesale customers that generate significant sales volume .', "for fiscal 2014 , these customers in the aggregate accounted for approximately 50% ( 50 % ) of our total wholesale revenues , with macy's , inc .", '( "macy\'s" ) representing approximately 25% ( 25 % ) of our total wholesale revenues .', 'our products are sold primarily through our own sales forces .', 'our wholesale segment maintains its primary showrooms in new york city .', 'in addition , we maintain regional showrooms in milan , paris , london , munich , madrid , stockholm , and panama .', 'shop-within-shops .', 'as a critical element of our distribution to department stores , we and our licensing partners utilize shop-within-shops to enhance brand recognition , to permit more complete merchandising of our lines by the department stores , and to differentiate the presentation of our products .', 'as of march 29 , 2014 , we had approximately 22000 shop-within-shops in our primary channels of distribution dedicated to our ralph lauren-branded wholesale products worldwide .', 'the size of our shop-within-shops ranges from approximately 100 to 9200 square feet .', 'shop-within-shop fixed assets primarily include items such as customized freestanding fixtures , wall cases .'] | 0.01135 | RL/2014/page_11.pdf-2 | ['our wholesale segment our wholesale segment sells our products to leading upscale and certain mid-tier department stores , specialty stores , and golf and pro shops , both domestically and internationally .', 'we have continued to focus on elevating our brand by improving in- store product assortment and presentation , as well as full-price sell-throughs to consumers .', 'as of the end of fiscal 2014 , our ralph lauren-branded products were sold through over 11000 doors worldwide and we invested $ 53 million of capital in related shop- within-shops primarily in domestic and international department and specialty stores .', 'our products are also sold through the e- commerce sites of certain of our wholesale customers .', 'the primary product offerings sold through our wholesale channels of distribution include menswear , womenswear , childrenswear , accessories , and home furnishings .', "our collection brands 2014 ralph lauren women's collection and black label and men's purple label and black label 2014 are distributed worldwide through a limited number of premier fashion retailers .", 'department stores are our major wholesale customers in north america .', 'in latin america , our wholesale products are sold in department stores and specialty stores .', 'in europe , our wholesale sales are a varying mix of sales to both department stores and specialty stores , depending on the country .', "in japan , our wholesale products are distributed primarily through shop-within-shops at premier and top-tier department stores , and the mix of business is weighted to men's and women's blue label .", "in the greater china and southeast asia region and australia , our wholesale products are sold mainly at mid and top-tier department stores , and the mix of business is primarily weighted to men's and women's blue label .", 'we also distribute product to certain licensed stores operated by our partners in latin america , europe , and asia .', 'in addition , our club monaco products are distributed through select department stores and specialty stores in europe .', 'we sell the majority of our excess and out-of-season products through secondary distribution channels worldwide , including our retail factory stores .', 'worldwide distribution channels the following table presents the number of doors by geographic location in which ralph lauren-branded products distributed by our wholesale segment were sold to consumers in our primary channels of distribution as of march 29 , 2014: .'] | ['( a ) includes the u.s. , canada , and latin america .', '( b ) includes australia , china , japan , the philippines , and thailand .', 'in addition , chaps-branded products distributed by our wholesale segment were sold domestically through approximately 2800 doors as of march 29 , 2014 .', 'we have three key wholesale customers that generate significant sales volume .', "for fiscal 2014 , these customers in the aggregate accounted for approximately 50% ( 50 % ) of our total wholesale revenues , with macy's , inc .", '( "macy\'s" ) representing approximately 25% ( 25 % ) of our total wholesale revenues .', 'our products are sold primarily through our own sales forces .', 'our wholesale segment maintains its primary showrooms in new york city .', 'in addition , we maintain regional showrooms in milan , paris , london , munich , madrid , stockholm , and panama .', 'shop-within-shops .', 'as a critical element of our distribution to department stores , we and our licensing partners utilize shop-within-shops to enhance brand recognition , to permit more complete merchandising of our lines by the department stores , and to differentiate the presentation of our products .', 'as of march 29 , 2014 , we had approximately 22000 shop-within-shops in our primary channels of distribution dedicated to our ralph lauren-branded wholesale products worldwide .', 'the size of our shop-within-shops ranges from approximately 100 to 9200 square feet .', 'shop-within-shop fixed assets primarily include items such as customized freestanding fixtures , wall cases .'] | ****************************************
location | number of doors
----------|----------
the americas ( a ) | 6459
europe | 4864
asia ( b ) | 130
total | 11453
**************************************** | divide(130, 11453) | 0.01135 |
what percentage of total expected cash outflow to satisfy contractual obligations and commitments as of december 31 , 2010 are due in 2012? | Background: ['contractual commitments we have contractual obligations and commitments in the form of capital leases , operating leases , debt obligations , purchase commitments , and certain other liabilities .', 'we intend to satisfy these obligations through the use of cash flow from operations .', 'the following table summarizes the expected cash outflow to satisfy our contractual obligations and commitments as of december 31 , 2010 ( in millions ) : .']
####
Tabular Data:
----------------------------------------
commitment type, 2011, 2012, 2013, 2014, 2015, after 2016, total
capital leases, $ 18, $ 19, $ 19, $ 20, $ 21, $ 112, $ 209
operating leases, 348, 268, 205, 150, 113, 431, 1515
debt principal, 345, 2014, 1750, 1000, 100, 7363, 10558
debt interest, 322, 321, 300, 274, 269, 4940, 6426
purchase commitments, 642, 463, 425, 16, 2014, 2014, 1546
pension fundings, 1200, 196, 752, 541, 274, 2014, 2963
other liabilities, 69, 67, 64, 58, 43, 38, 339
total, $ 2944, $ 1334, $ 3515, $ 2059, $ 820, $ 12884, $ 23556
----------------------------------------
####
Additional Information: ['our capital lease obligations relate primarily to leases on aircraft .', 'capital leases , operating leases , and purchase commitments , as well as our debt principal obligations , are discussed further in note 7 to our consolidated financial statements .', 'the amount of interest on our debt was calculated as the contractual interest payments due on our fixed-rate debt , in addition to interest on variable rate debt that was calculated based on interest rates as of december 31 , 2010 .', 'the calculations of debt interest take into account the effect of interest rate swap agreements .', 'for debt denominated in a foreign currency , the u.s .', 'dollar equivalent principal amount of the debt at the end of the year was used as the basis to calculate future interest payments .', 'purchase commitments represent contractual agreements to purchase goods or services that are legally binding , the largest of which are orders for aircraft , engines , and parts .', 'as of december 31 , 2010 , we have firm commitments to purchase 20 boeing 767-300er freighters to be delivered between 2011 and 2013 , and two boeing 747-400f aircraft scheduled for delivery during 2011 .', 'these aircraft purchase orders will provide for the replacement of existing capacity and anticipated future growth .', 'pension fundings represent the anticipated required cash contributions that will be made to our qualified pension plans .', 'these contributions include those to the ups ibt pension plan , which was established upon ratification of the national master agreement with the teamsters , as well as the ups pension plan .', 'these plans are discussed further in note 5 to the consolidated financial statements .', 'the pension funding requirements were estimated under the provisions of the pension protection act of 2006 and the employee retirement income security act of 1974 , using discount rates , asset returns , and other assumptions appropriate for these plans .', 'to the extent that the funded status of these plans in future years differs from our current projections , the actual contributions made in future years could materially differ from the amounts shown in the table above .', 'additionally , we have not included minimum funding requirements beyond 2015 , because these projected contributions are not reasonably determinable .', 'we are not subject to any minimum funding requirement for cash contributions in 2011 in the ups retirement plan or ups pension plan .', 'the amount of any minimum funding requirement , as applicable , for these plans could change significantly in future periods , depending on many factors , including future plan asset returns and discount rates .', 'a sustained significant decline in the world equity markets , and the resulting impact on our pension assets and investment returns , could result in our domestic pension plans being subject to significantly higher minimum funding requirements .', 'such an outcome could have a material adverse impact on our financial position and cash flows in future periods .', 'the contractual payments due for 201cother liabilities 201d primarily include commitment payments related to our investment in certain partnerships .', 'the table above does not include approximately $ 284 million of liabilities for .'] | 0.05663 | UPS/2010/page_52.pdf-1 | ['contractual commitments we have contractual obligations and commitments in the form of capital leases , operating leases , debt obligations , purchase commitments , and certain other liabilities .', 'we intend to satisfy these obligations through the use of cash flow from operations .', 'the following table summarizes the expected cash outflow to satisfy our contractual obligations and commitments as of december 31 , 2010 ( in millions ) : .'] | ['our capital lease obligations relate primarily to leases on aircraft .', 'capital leases , operating leases , and purchase commitments , as well as our debt principal obligations , are discussed further in note 7 to our consolidated financial statements .', 'the amount of interest on our debt was calculated as the contractual interest payments due on our fixed-rate debt , in addition to interest on variable rate debt that was calculated based on interest rates as of december 31 , 2010 .', 'the calculations of debt interest take into account the effect of interest rate swap agreements .', 'for debt denominated in a foreign currency , the u.s .', 'dollar equivalent principal amount of the debt at the end of the year was used as the basis to calculate future interest payments .', 'purchase commitments represent contractual agreements to purchase goods or services that are legally binding , the largest of which are orders for aircraft , engines , and parts .', 'as of december 31 , 2010 , we have firm commitments to purchase 20 boeing 767-300er freighters to be delivered between 2011 and 2013 , and two boeing 747-400f aircraft scheduled for delivery during 2011 .', 'these aircraft purchase orders will provide for the replacement of existing capacity and anticipated future growth .', 'pension fundings represent the anticipated required cash contributions that will be made to our qualified pension plans .', 'these contributions include those to the ups ibt pension plan , which was established upon ratification of the national master agreement with the teamsters , as well as the ups pension plan .', 'these plans are discussed further in note 5 to the consolidated financial statements .', 'the pension funding requirements were estimated under the provisions of the pension protection act of 2006 and the employee retirement income security act of 1974 , using discount rates , asset returns , and other assumptions appropriate for these plans .', 'to the extent that the funded status of these plans in future years differs from our current projections , the actual contributions made in future years could materially differ from the amounts shown in the table above .', 'additionally , we have not included minimum funding requirements beyond 2015 , because these projected contributions are not reasonably determinable .', 'we are not subject to any minimum funding requirement for cash contributions in 2011 in the ups retirement plan or ups pension plan .', 'the amount of any minimum funding requirement , as applicable , for these plans could change significantly in future periods , depending on many factors , including future plan asset returns and discount rates .', 'a sustained significant decline in the world equity markets , and the resulting impact on our pension assets and investment returns , could result in our domestic pension plans being subject to significantly higher minimum funding requirements .', 'such an outcome could have a material adverse impact on our financial position and cash flows in future periods .', 'the contractual payments due for 201cother liabilities 201d primarily include commitment payments related to our investment in certain partnerships .', 'the table above does not include approximately $ 284 million of liabilities for .'] | ----------------------------------------
commitment type, 2011, 2012, 2013, 2014, 2015, after 2016, total
capital leases, $ 18, $ 19, $ 19, $ 20, $ 21, $ 112, $ 209
operating leases, 348, 268, 205, 150, 113, 431, 1515
debt principal, 345, 2014, 1750, 1000, 100, 7363, 10558
debt interest, 322, 321, 300, 274, 269, 4940, 6426
purchase commitments, 642, 463, 425, 16, 2014, 2014, 1546
pension fundings, 1200, 196, 752, 541, 274, 2014, 2963
other liabilities, 69, 67, 64, 58, 43, 38, 339
total, $ 2944, $ 1334, $ 3515, $ 2059, $ 820, $ 12884, $ 23556
---------------------------------------- | divide(1334, 23556) | 0.05663 |
now much of the net increase in aro during the period was due to accretion , in millions? | Background: ['except for long-term debt , the carrying amounts of the company 2019s other financial instruments are measured at fair value or approximate fair value due to the short-term nature of these instruments .', 'asset retirement obligations 2014the company records all known asset retirement obligations within other current liabilities for which the liability 2019s fair value can be reasonably estimated , including certain asbestos removal , asset decommissioning and contractual lease restoration obligations .', 'the changes in the asset retirement obligation carrying amounts during 2011 , 2010 and 2009 were as follows : ( $ in millions ) retirement obligations .']
########
Data Table:
• ( $ in millions ), asset retirement obligations
• balance at january 1 2009, $ 3
• accretion expense, 0
• payment of asset retirement obligation, 0
• balance at december 31 2009, 3
• obligation relating to the future retirement of a facility, 17
• accretion expense, 0
• payment of asset retirement obligation, 0
• balance at december 31 2010, 20
• obligation relating to the future retirement of a facility, 5
• accretion expense, 0
• payment of asset retirement obligation, 0
• balance at december 31 2011, $ 25
########
Post-table: ['the company also has known conditional asset retirement obligations related to assets currently in use , such as certain asbestos remediation and asset decommissioning activities to be performed in the future , that were not reasonably estimable as of december 31 , 2011 and 2010 , due to insufficient information about the timing and method of settlement of the obligation .', 'accordingly , the fair value of these obligations has not been recorded in the consolidated financial statements .', 'environmental remediation and/or asset decommissioning of the relevant facilities may be required when the company ceases to utilize these facilities .', 'in addition , there may be conditional environmental asset retirement obligations that the company has not yet discovered .', 'income taxes 2014income tax expense and other income tax related information contained in the financial statements for periods before the spin-off are presented as if the company filed its own tax returns on a stand-alone basis , while similar information for periods after the spin-off reflect the company 2019s positions to be filed in its own tax returns in the future .', 'income tax expense and other related information are based on the prevailing statutory rates for u.s .', 'federal income taxes and the composite state income tax rate for the company for each period presented .', 'state and local income and franchise tax provisions are allocable to contracts in process and , accordingly , are included in general and administrative expenses .', 'deferred income taxes are recorded when revenues and expenses are recognized in different periods for financial statement purposes than for tax return purposes .', 'deferred tax asset or liability account balances are calculated at the balance sheet date using current tax laws and rates in effect .', 'determinations of the expected realizability of deferred tax assets and the need for any valuation allowances against these deferred tax assets were evaluated based upon the stand-alone tax attributes of the company , and an $ 18 million valuation allowance was deemed necessary as of december 31 , 2011 .', 'no valuation allowance was deemed necessary as of december 31 , 2010 .', 'uncertain tax positions meeting the more-likely-than-not recognition threshold , based on the merits of the position , are recognized in the financial statements .', 'we recognize the amount of tax benefit that is greater than 50% ( 50 % ) likely to be realized upon ultimate settlement with the related tax authority .', 'if a tax position does not meet the minimum statutory threshold to avoid payment of penalties , we recognize an expense for the amount of the penalty in the period the tax position is claimed or expected to be claimed in our tax return .', 'penalties , if probable and reasonably estimable , are recognized as a component of income tax expense .', 'we also recognize accrued interest related to uncertain tax positions in income tax expense .', 'the timing and amount of accrued interest is determined by the applicable tax law associated with an underpayment of income taxes .', 'see note 12 : income taxes .', 'under existing gaap , changes in accruals associated with uncertainties are recorded in earnings in the period they are determined. .'] | 0.0 | HII/2011/page_86.pdf-2 | ['except for long-term debt , the carrying amounts of the company 2019s other financial instruments are measured at fair value or approximate fair value due to the short-term nature of these instruments .', 'asset retirement obligations 2014the company records all known asset retirement obligations within other current liabilities for which the liability 2019s fair value can be reasonably estimated , including certain asbestos removal , asset decommissioning and contractual lease restoration obligations .', 'the changes in the asset retirement obligation carrying amounts during 2011 , 2010 and 2009 were as follows : ( $ in millions ) retirement obligations .'] | ['the company also has known conditional asset retirement obligations related to assets currently in use , such as certain asbestos remediation and asset decommissioning activities to be performed in the future , that were not reasonably estimable as of december 31 , 2011 and 2010 , due to insufficient information about the timing and method of settlement of the obligation .', 'accordingly , the fair value of these obligations has not been recorded in the consolidated financial statements .', 'environmental remediation and/or asset decommissioning of the relevant facilities may be required when the company ceases to utilize these facilities .', 'in addition , there may be conditional environmental asset retirement obligations that the company has not yet discovered .', 'income taxes 2014income tax expense and other income tax related information contained in the financial statements for periods before the spin-off are presented as if the company filed its own tax returns on a stand-alone basis , while similar information for periods after the spin-off reflect the company 2019s positions to be filed in its own tax returns in the future .', 'income tax expense and other related information are based on the prevailing statutory rates for u.s .', 'federal income taxes and the composite state income tax rate for the company for each period presented .', 'state and local income and franchise tax provisions are allocable to contracts in process and , accordingly , are included in general and administrative expenses .', 'deferred income taxes are recorded when revenues and expenses are recognized in different periods for financial statement purposes than for tax return purposes .', 'deferred tax asset or liability account balances are calculated at the balance sheet date using current tax laws and rates in effect .', 'determinations of the expected realizability of deferred tax assets and the need for any valuation allowances against these deferred tax assets were evaluated based upon the stand-alone tax attributes of the company , and an $ 18 million valuation allowance was deemed necessary as of december 31 , 2011 .', 'no valuation allowance was deemed necessary as of december 31 , 2010 .', 'uncertain tax positions meeting the more-likely-than-not recognition threshold , based on the merits of the position , are recognized in the financial statements .', 'we recognize the amount of tax benefit that is greater than 50% ( 50 % ) likely to be realized upon ultimate settlement with the related tax authority .', 'if a tax position does not meet the minimum statutory threshold to avoid payment of penalties , we recognize an expense for the amount of the penalty in the period the tax position is claimed or expected to be claimed in our tax return .', 'penalties , if probable and reasonably estimable , are recognized as a component of income tax expense .', 'we also recognize accrued interest related to uncertain tax positions in income tax expense .', 'the timing and amount of accrued interest is determined by the applicable tax law associated with an underpayment of income taxes .', 'see note 12 : income taxes .', 'under existing gaap , changes in accruals associated with uncertainties are recorded in earnings in the period they are determined. .'] | • ( $ in millions ), asset retirement obligations
• balance at january 1 2009, $ 3
• accretion expense, 0
• payment of asset retirement obligation, 0
• balance at december 31 2009, 3
• obligation relating to the future retirement of a facility, 17
• accretion expense, 0
• payment of asset retirement obligation, 0
• balance at december 31 2010, 20
• obligation relating to the future retirement of a facility, 5
• accretion expense, 0
• payment of asset retirement obligation, 0
• balance at december 31 2011, $ 25 | add(0, 0), add(#0, #0), subtract(25, 3), divide(#1, #2) | 0.0 |
what is the total value of securities approved by security holders but net yer issued , ( in millions ) ? | Context: ['the following table provides certain information as of may 31 , 2014 concerning the shares of the company 2019s common stock that may be issued under existing equity compensation plans .', 'for more information on these plans , see note 11 to notes to consolidated financial statements .', 'plan category number of securities to be issued upon exercise of outstanding options , warrants and rights weighted- average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) equity compensation plans approved by security holders 766801 $ 40.85 8945694 equity compensation plans not approved by security holders 2014 2014 2014 .']
########
Data Table:
========================================
plan category number of securities to be issued upon exercise of outstanding options warrants and rights ( a ) weighted-average exerciseprice of outstanding options warrants and rights ( b ) number of securitiesremaining available forfuture issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) ( c )
equity compensation plans approved by security holders 766801 $ 40.85 8945694
equity compensation plans not approved by security holders 2014 2014 2014
total 766801 $ 40.85 8945694
========================================
########
Post-table: ['the information presented in the table above includes shares of common stock available for issuance other than upon the exercise of an option , warrant or right under the employee stock purchase plan and the 2011 incentive plan .', 'in addition , it includes 977296 shares authorized under the amended and restated 2005 incentive plan and 584004 shares authorized under the 2000 long-term incentive plan .', 'as previously disclosed , we do not intend to issue shares under either the amended and restated 2005 incentive plan or the 2000 long-term incentive plan .', 'item 13 2014 certain relationships and related transactions , and director independence we incorporate by reference in this item 13 the information regarding certain relationships and related transactions between us and our affiliates and the independence of our directors contained under the headings 201ccertain relationships and related transactions 201d and 201cboard independence 201d from our proxy statement to be delivered in connection with our 2014 annual meeting of shareholders .', 'item 14 2014principal accounting fees and services we incorporate by reference in this item 14 the information regarding principal accounting fees and services contained under the heading 201cratification of the reappointment of auditors 201d from our proxy statement to be delivered in connection with our 2014 annual meeting of shareholders. .'] | 365.4316 | GPN/2014/page_92.pdf-2 | ['the following table provides certain information as of may 31 , 2014 concerning the shares of the company 2019s common stock that may be issued under existing equity compensation plans .', 'for more information on these plans , see note 11 to notes to consolidated financial statements .', 'plan category number of securities to be issued upon exercise of outstanding options , warrants and rights weighted- average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) equity compensation plans approved by security holders 766801 $ 40.85 8945694 equity compensation plans not approved by security holders 2014 2014 2014 .'] | ['the information presented in the table above includes shares of common stock available for issuance other than upon the exercise of an option , warrant or right under the employee stock purchase plan and the 2011 incentive plan .', 'in addition , it includes 977296 shares authorized under the amended and restated 2005 incentive plan and 584004 shares authorized under the 2000 long-term incentive plan .', 'as previously disclosed , we do not intend to issue shares under either the amended and restated 2005 incentive plan or the 2000 long-term incentive plan .', 'item 13 2014 certain relationships and related transactions , and director independence we incorporate by reference in this item 13 the information regarding certain relationships and related transactions between us and our affiliates and the independence of our directors contained under the headings 201ccertain relationships and related transactions 201d and 201cboard independence 201d from our proxy statement to be delivered in connection with our 2014 annual meeting of shareholders .', 'item 14 2014principal accounting fees and services we incorporate by reference in this item 14 the information regarding principal accounting fees and services contained under the heading 201cratification of the reappointment of auditors 201d from our proxy statement to be delivered in connection with our 2014 annual meeting of shareholders. .'] | ========================================
plan category number of securities to be issued upon exercise of outstanding options warrants and rights ( a ) weighted-average exerciseprice of outstanding options warrants and rights ( b ) number of securitiesremaining available forfuture issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) ( c )
equity compensation plans approved by security holders 766801 $ 40.85 8945694
equity compensation plans not approved by security holders 2014 2014 2014
total 766801 $ 40.85 8945694
======================================== | multiply(8945694, 40.85), divide(#0, const_1000000) | 365.4316 |
what percentage of contractual obligations for future payments under existing debt and lease commitments and purchase obligations at december 31 , 2007 for the year of 2009 are due to maturities of long-term debt? | Background: ['exchanged installment notes totaling approximately $ 4.8 billion and approximately $ 400 million of inter- national paper promissory notes for interests in enti- ties formed to monetize the notes .', 'international paper determined that it was not the primary benefi- ciary of these entities , and therefore should not consolidate its investments in these entities .', 'during 2006 , these entities acquired an additional $ 4.8 bil- lion of international paper debt securities for cash , resulting in a total of approximately $ 5.2 billion of international paper debt obligations held by these entities at december 31 , 2006 .', 'since international paper has , and intends to affect , a legal right to offset its obligations under these debt instruments with its investments in the entities , international paper has offset $ 5.0 billion of interest in the entities against $ 5.0 billion of international paper debt obligations held by the entities as of december 31 , 2007 .', 'international paper also holds variable interests in two financing entities that were used to monetize long-term notes received from sales of forestlands in 2002 and 2001 .', 'see note 8 of the notes to consolidated financial statements in item 8 .', 'financial statements and supplementary data for a further discussion of these transactions .', 'capital resources outlook for 2008 international paper expects to be able to meet pro- jected capital expenditures , service existing debt and meet working capital and dividend requirements during 2008 through current cash balances and cash from operations , supplemented as required by its various existing credit facilities .', 'international paper has approximately $ 2.5 billion of committed bank credit agreements , which management believes is adequate to cover expected operating cash flow variability during our industry 2019s economic cycles .', 'the agreements generally provide for interest rates at a floating rate index plus a pre-determined margin dependent upon international paper 2019s credit rating .', 'the agreements include a $ 1.5 billion fully commit- ted revolving bank credit agreement that expires in march 2011 and has a facility fee of 0.10% ( 0.10 % ) payable quarterly .', 'these agreements also include up to $ 1.0 billion of available commercial paper-based financ- ings under a receivables securitization program that expires in october 2009 with a facility fee of 0.10% ( 0.10 % ) .', 'at december 31 , 2007 , there were no borrowings under either the bank credit agreements or receiv- ables securitization program .', 'the company will continue to rely upon debt and capital markets for the majority of any necessary long-term funding not provided by operating cash flows .', 'funding decisions will be guided by our capi- tal structure planning objectives .', 'the primary goals of the company 2019s capital structure planning are to maximize financial flexibility and preserve liquidity while reducing interest expense .', 'the majority of international paper 2019s debt is accessed through global public capital markets where we have a wide base of investors .', 'the company was in compliance with all its debt covenants at december 31 , 2007 .', 'principal financial covenants include maintenance of a minimum net worth , defined as the sum of common stock , paid-in capital and retained earnings , less treasury stock , plus any goodwill impairment charges , of $ 9 billion ; and a maximum total debt to capital ratio , defined as total debt divided by total debt plus net worth , of 60% ( 60 % ) .', 'maintaining an investment grade credit rating is an important element of international paper 2019s financing strategy .', 'at december 31 , 2007 , the company held long-term credit ratings of bbb ( stable outlook ) and baa3 ( stable outlook ) by standard & poor 2019s ( s&p ) and moody 2019s investor services ( moody 2019s ) , respectively .', 'the company currently has short-term credit ratings by s&p and moody 2019s of a-2 and p-3 , respectively .', 'contractual obligations for future payments under existing debt and lease commitments and purchase obligations at december 31 , 2007 , were as follows : in millions 2008 2009 2010 2011 2012 thereafter maturities of long-term debt ( a ) $ 267 $ 1300 $ 1069 $ 396 $ 532 $ 3056 debt obligations with right of offset ( b ) 2013 2013 2013 2013 2013 5000 .']
######
Table:
• in millions, 2008, 2009, 2010, 2011, 2012, thereafter
• maturities of long-term debt ( a ), $ 267, $ 1300, $ 1069, $ 396, $ 532, $ 3056
• debt obligations with right of offset ( b ), 2013, 2013, 2013, 2013, 2013, 5000
• lease obligations, 136, 116, 101, 84, 67, 92
• purchase obligations ( c ), 1953, 294, 261, 235, 212, 1480
• total ( d ), $ 2356, $ 1710, $ 1431, $ 715, $ 811, $ 9628
######
Post-table: ['( a ) total debt includes scheduled principal payments only .', '( b ) represents debt obligations borrowed from non-consolidated variable interest entities for which international paper has , and intends to affect , a legal right to offset these obligations with investments held in the entities .', 'accordingly , in its con- solidated balance sheet at december 31 , 2007 , international paper has offset approximately $ 5.0 billion of interests in the entities against this $ 5.0 billion of debt obligations held by the entities ( see note 8 in the accompanying consolidated financial statements ) .', '( c ) includes $ 2.1 billion relating to fiber supply agreements entered into at the time of the transformation plan forestland sales .', '( d ) not included in the above table are unrecognized tax benefits of approximately $ 280 million. .'] | 0.76023 | IP/2007/page_38.pdf-2 | ['exchanged installment notes totaling approximately $ 4.8 billion and approximately $ 400 million of inter- national paper promissory notes for interests in enti- ties formed to monetize the notes .', 'international paper determined that it was not the primary benefi- ciary of these entities , and therefore should not consolidate its investments in these entities .', 'during 2006 , these entities acquired an additional $ 4.8 bil- lion of international paper debt securities for cash , resulting in a total of approximately $ 5.2 billion of international paper debt obligations held by these entities at december 31 , 2006 .', 'since international paper has , and intends to affect , a legal right to offset its obligations under these debt instruments with its investments in the entities , international paper has offset $ 5.0 billion of interest in the entities against $ 5.0 billion of international paper debt obligations held by the entities as of december 31 , 2007 .', 'international paper also holds variable interests in two financing entities that were used to monetize long-term notes received from sales of forestlands in 2002 and 2001 .', 'see note 8 of the notes to consolidated financial statements in item 8 .', 'financial statements and supplementary data for a further discussion of these transactions .', 'capital resources outlook for 2008 international paper expects to be able to meet pro- jected capital expenditures , service existing debt and meet working capital and dividend requirements during 2008 through current cash balances and cash from operations , supplemented as required by its various existing credit facilities .', 'international paper has approximately $ 2.5 billion of committed bank credit agreements , which management believes is adequate to cover expected operating cash flow variability during our industry 2019s economic cycles .', 'the agreements generally provide for interest rates at a floating rate index plus a pre-determined margin dependent upon international paper 2019s credit rating .', 'the agreements include a $ 1.5 billion fully commit- ted revolving bank credit agreement that expires in march 2011 and has a facility fee of 0.10% ( 0.10 % ) payable quarterly .', 'these agreements also include up to $ 1.0 billion of available commercial paper-based financ- ings under a receivables securitization program that expires in october 2009 with a facility fee of 0.10% ( 0.10 % ) .', 'at december 31 , 2007 , there were no borrowings under either the bank credit agreements or receiv- ables securitization program .', 'the company will continue to rely upon debt and capital markets for the majority of any necessary long-term funding not provided by operating cash flows .', 'funding decisions will be guided by our capi- tal structure planning objectives .', 'the primary goals of the company 2019s capital structure planning are to maximize financial flexibility and preserve liquidity while reducing interest expense .', 'the majority of international paper 2019s debt is accessed through global public capital markets where we have a wide base of investors .', 'the company was in compliance with all its debt covenants at december 31 , 2007 .', 'principal financial covenants include maintenance of a minimum net worth , defined as the sum of common stock , paid-in capital and retained earnings , less treasury stock , plus any goodwill impairment charges , of $ 9 billion ; and a maximum total debt to capital ratio , defined as total debt divided by total debt plus net worth , of 60% ( 60 % ) .', 'maintaining an investment grade credit rating is an important element of international paper 2019s financing strategy .', 'at december 31 , 2007 , the company held long-term credit ratings of bbb ( stable outlook ) and baa3 ( stable outlook ) by standard & poor 2019s ( s&p ) and moody 2019s investor services ( moody 2019s ) , respectively .', 'the company currently has short-term credit ratings by s&p and moody 2019s of a-2 and p-3 , respectively .', 'contractual obligations for future payments under existing debt and lease commitments and purchase obligations at december 31 , 2007 , were as follows : in millions 2008 2009 2010 2011 2012 thereafter maturities of long-term debt ( a ) $ 267 $ 1300 $ 1069 $ 396 $ 532 $ 3056 debt obligations with right of offset ( b ) 2013 2013 2013 2013 2013 5000 .'] | ['( a ) total debt includes scheduled principal payments only .', '( b ) represents debt obligations borrowed from non-consolidated variable interest entities for which international paper has , and intends to affect , a legal right to offset these obligations with investments held in the entities .', 'accordingly , in its con- solidated balance sheet at december 31 , 2007 , international paper has offset approximately $ 5.0 billion of interests in the entities against this $ 5.0 billion of debt obligations held by the entities ( see note 8 in the accompanying consolidated financial statements ) .', '( c ) includes $ 2.1 billion relating to fiber supply agreements entered into at the time of the transformation plan forestland sales .', '( d ) not included in the above table are unrecognized tax benefits of approximately $ 280 million. .'] | • in millions, 2008, 2009, 2010, 2011, 2012, thereafter
• maturities of long-term debt ( a ), $ 267, $ 1300, $ 1069, $ 396, $ 532, $ 3056
• debt obligations with right of offset ( b ), 2013, 2013, 2013, 2013, 2013, 5000
• lease obligations, 136, 116, 101, 84, 67, 92
• purchase obligations ( c ), 1953, 294, 261, 235, 212, 1480
• total ( d ), $ 2356, $ 1710, $ 1431, $ 715, $ 811, $ 9628 | divide(1300, 1710) | 0.76023 |
considering the years 2012 and 2013 , what is the increase observed in the service cost? | Background: ['13 .', 'pension and other postretirement benefit plans the company has defined benefit pension plans covering eligible employees in the united states and in certain of its international subsidiaries .', 'as a result of plan design changes approved in 2011 , beginning on january 1 , 2013 , active participants in merck 2019s primary u.s .', 'defined benefit pension plans are accruing pension benefits using new cash balance formulas based on age , service , pay and interest .', 'however , during a transition period from january 1 , 2013 through december 31 , 2019 , participants will earn the greater of the benefit as calculated under the employee 2019s legacy final average pay formula or their new cash balance formula .', 'for all years of service after december 31 , 2019 , participants will earn future benefits under only the cash balance formula .', 'in addition , the company provides medical benefits , principally to its eligible u.s .', 'retirees and their dependents , through its other postretirement benefit plans .', 'the company uses december 31 as the year-end measurement date for all of its pension plans and other postretirement benefit plans .', 'net periodic benefit cost the net periodic benefit cost for pension and other postretirement benefit plans consisted of the following components: .']
--
Data Table:
========================================
years ended december 31 | pension benefits 2013 | pension benefits 2012 | pension benefits 2011 | pension benefits 2013 | pension benefits 2012 | 2011
----------|----------|----------|----------|----------|----------|----------
service cost | $ 682 | $ 555 | $ 619 | $ 102 | $ 82 | $ 110
interest cost | 665 | 661 | 718 | 107 | 121 | 141
expected return on plan assets | -1097 ( 1097 ) | -970 ( 970 ) | -972 ( 972 ) | -126 ( 126 ) | -136 ( 136 ) | -142 ( 142 )
net amortization | 336 | 185 | 201 | -50 ( 50 ) | -35 ( 35 ) | -17 ( 17 )
termination benefits | 58 | 27 | 59 | 50 | 18 | 29
curtailments | -23 ( 23 ) | -10 ( 10 ) | -86 ( 86 ) | -11 ( 11 ) | -7 ( 7 ) | 1
settlements | 23 | 18 | 4 | 2014 | 2014 | 2014
net periodic benefit cost | $ 644 | $ 466 | $ 543 | $ 72 | $ 43 | $ 122
========================================
--
Follow-up: ['the increase in net periodic benefit cost for pension and other postretirement benefit plans in 2013 as compared with 2012 is largely attributable to a change in the discount rate .', 'the net periodic benefit cost attributable to u.s .', 'pension plans included in the above table was $ 348 million in 2013 , $ 268 million in 2012 and $ 406 million in in connection with restructuring actions ( see note 3 ) , termination charges were recorded in 2013 , 2012 and 2011 on pension and other postretirement benefit plans related to expanded eligibility for certain employees exiting merck .', 'also , in connection with these restructuring activities , curtailments were recorded in 2013 , 2012 and 2011 on pension and other postretirement benefit plans .', 'in addition , settlements were recorded in 2013 , 2012 and 2011 on certain domestic and international pension plans .', 'table of contents .'] | 0.22883 | MRK/2013/page_116.pdf-1 | ['13 .', 'pension and other postretirement benefit plans the company has defined benefit pension plans covering eligible employees in the united states and in certain of its international subsidiaries .', 'as a result of plan design changes approved in 2011 , beginning on january 1 , 2013 , active participants in merck 2019s primary u.s .', 'defined benefit pension plans are accruing pension benefits using new cash balance formulas based on age , service , pay and interest .', 'however , during a transition period from january 1 , 2013 through december 31 , 2019 , participants will earn the greater of the benefit as calculated under the employee 2019s legacy final average pay formula or their new cash balance formula .', 'for all years of service after december 31 , 2019 , participants will earn future benefits under only the cash balance formula .', 'in addition , the company provides medical benefits , principally to its eligible u.s .', 'retirees and their dependents , through its other postretirement benefit plans .', 'the company uses december 31 as the year-end measurement date for all of its pension plans and other postretirement benefit plans .', 'net periodic benefit cost the net periodic benefit cost for pension and other postretirement benefit plans consisted of the following components: .'] | ['the increase in net periodic benefit cost for pension and other postretirement benefit plans in 2013 as compared with 2012 is largely attributable to a change in the discount rate .', 'the net periodic benefit cost attributable to u.s .', 'pension plans included in the above table was $ 348 million in 2013 , $ 268 million in 2012 and $ 406 million in in connection with restructuring actions ( see note 3 ) , termination charges were recorded in 2013 , 2012 and 2011 on pension and other postretirement benefit plans related to expanded eligibility for certain employees exiting merck .', 'also , in connection with these restructuring activities , curtailments were recorded in 2013 , 2012 and 2011 on pension and other postretirement benefit plans .', 'in addition , settlements were recorded in 2013 , 2012 and 2011 on certain domestic and international pension plans .', 'table of contents .'] | ========================================
years ended december 31 | pension benefits 2013 | pension benefits 2012 | pension benefits 2011 | pension benefits 2013 | pension benefits 2012 | 2011
----------|----------|----------|----------|----------|----------|----------
service cost | $ 682 | $ 555 | $ 619 | $ 102 | $ 82 | $ 110
interest cost | 665 | 661 | 718 | 107 | 121 | 141
expected return on plan assets | -1097 ( 1097 ) | -970 ( 970 ) | -972 ( 972 ) | -126 ( 126 ) | -136 ( 136 ) | -142 ( 142 )
net amortization | 336 | 185 | 201 | -50 ( 50 ) | -35 ( 35 ) | -17 ( 17 )
termination benefits | 58 | 27 | 59 | 50 | 18 | 29
curtailments | -23 ( 23 ) | -10 ( 10 ) | -86 ( 86 ) | -11 ( 11 ) | -7 ( 7 ) | 1
settlements | 23 | 18 | 4 | 2014 | 2014 | 2014
net periodic benefit cost | $ 644 | $ 466 | $ 543 | $ 72 | $ 43 | $ 122
======================================== | divide(682, 555), subtract(#0, const_1) | 0.22883 |
what is the percentage change in total accumulated other comprehensive losses from 2016 to 2017? | Pre-text: ['note 17 .', "accumulated other comprehensive losses : pmi's accumulated other comprehensive losses , net of taxes , consisted of the following: ."]
Tabular Data:
----------------------------------------
( losses ) earnings ( in millions ), ( losses ) earnings 2017, ( losses ) earnings 2016, 2015
currency translation adjustments, $ -5761 ( 5761 ), $ -6091 ( 6091 ), $ -6129 ( 6129 )
pension and other benefits, -2816 ( 2816 ), -3565 ( 3565 ), -3332 ( 3332 )
derivatives accounted for as hedges, 42, 97, 59
total accumulated other comprehensive losses, $ -8535 ( 8535 ), $ -9559 ( 9559 ), $ -9402 ( 9402 )
----------------------------------------
Post-table: ['reclassifications from other comprehensive earnings the movements in accumulated other comprehensive losses and the related tax impact , for each of the components above , that are due to current period activity and reclassifications to the income statement are shown on the consolidated statements of comprehensive earnings for the years ended december 31 , 2017 , 2016 , and 2015 .', 'for the years ended december 31 , 2017 , 2016 , and 2015 , $ 2 million , $ ( 5 ) million and $ 1 million of net currency translation adjustment gains/ ( losses ) were transferred from other comprehensive earnings to marketing , administration and research costs in the consolidated statements of earnings , respectively , upon liquidation of subsidiaries .', 'for additional information , see note 13 .', 'benefit plans and note 15 .', "financial instruments for disclosures related to pmi's pension and other benefits and derivative financial instruments .", 'note 18 .', 'contingencies : tobacco-related litigation legal proceedings covering a wide range of matters are pending or threatened against us , and/or our subsidiaries , and/or our indemnitees in various jurisdictions .', 'our indemnitees include distributors , licensees and others that have been named as parties in certain cases and that we have agreed to defend , as well as to pay costs and some or all of judgments , if any , that may be entered against them .', 'pursuant to the terms of the distribution agreement between altria group , inc .', '( "altria" ) and pmi , pmi will indemnify altria and philip morris usa inc .', '( "pm usa" ) , a u.s .', 'tobacco subsidiary of altria , for tobacco product claims based in substantial part on products manufactured by pmi or contract manufactured for pmi by pm usa , and pm usa will indemnify pmi for tobacco product claims based in substantial part on products manufactured by pm usa , excluding tobacco products contract manufactured for pmi .', 'it is possible that there could be adverse developments in pending cases against us and our subsidiaries .', 'an unfavorable outcome or settlement of pending tobacco-related litigation could encourage the commencement of additional litigation .', 'damages claimed in some of the tobacco-related litigation are significant and , in certain cases in brazil , canada and nigeria , range into the billions of u.s .', 'dollars .', 'the variability in pleadings in multiple jurisdictions , together with the actual experience of management in litigating claims , demonstrate that the monetary relief that may be specified in a lawsuit bears little relevance to the ultimate outcome .', 'much of the tobacco-related litigation is in its early stages , and litigation is subject to uncertainty .', 'however , as discussed below , we have to date been largely successful in defending tobacco-related litigation .', 'we and our subsidiaries record provisions in the consolidated financial statements for pending litigation when we determine that an unfavorable outcome is probable and the amount of the loss can be reasonably estimated .', 'at the present time , while it is reasonably possible that an unfavorable outcome in a case may occur , after assessing the information available to it ( i ) management has not concluded that it is probable that a loss has been incurred in any of the pending tobacco-related cases ; ( ii ) management is unable to estimate the possible loss or range of loss for any of the pending tobacco-related cases ; and ( iii ) accordingly , no estimated loss has been accrued in the consolidated financial statements for unfavorable outcomes in these cases , if any .', 'legal defense costs are expensed as incurred. .'] | -0.10712 | PM/2017/page_117.pdf-4 | ['note 17 .', "accumulated other comprehensive losses : pmi's accumulated other comprehensive losses , net of taxes , consisted of the following: ."] | ['reclassifications from other comprehensive earnings the movements in accumulated other comprehensive losses and the related tax impact , for each of the components above , that are due to current period activity and reclassifications to the income statement are shown on the consolidated statements of comprehensive earnings for the years ended december 31 , 2017 , 2016 , and 2015 .', 'for the years ended december 31 , 2017 , 2016 , and 2015 , $ 2 million , $ ( 5 ) million and $ 1 million of net currency translation adjustment gains/ ( losses ) were transferred from other comprehensive earnings to marketing , administration and research costs in the consolidated statements of earnings , respectively , upon liquidation of subsidiaries .', 'for additional information , see note 13 .', 'benefit plans and note 15 .', "financial instruments for disclosures related to pmi's pension and other benefits and derivative financial instruments .", 'note 18 .', 'contingencies : tobacco-related litigation legal proceedings covering a wide range of matters are pending or threatened against us , and/or our subsidiaries , and/or our indemnitees in various jurisdictions .', 'our indemnitees include distributors , licensees and others that have been named as parties in certain cases and that we have agreed to defend , as well as to pay costs and some or all of judgments , if any , that may be entered against them .', 'pursuant to the terms of the distribution agreement between altria group , inc .', '( "altria" ) and pmi , pmi will indemnify altria and philip morris usa inc .', '( "pm usa" ) , a u.s .', 'tobacco subsidiary of altria , for tobacco product claims based in substantial part on products manufactured by pmi or contract manufactured for pmi by pm usa , and pm usa will indemnify pmi for tobacco product claims based in substantial part on products manufactured by pm usa , excluding tobacco products contract manufactured for pmi .', 'it is possible that there could be adverse developments in pending cases against us and our subsidiaries .', 'an unfavorable outcome or settlement of pending tobacco-related litigation could encourage the commencement of additional litigation .', 'damages claimed in some of the tobacco-related litigation are significant and , in certain cases in brazil , canada and nigeria , range into the billions of u.s .', 'dollars .', 'the variability in pleadings in multiple jurisdictions , together with the actual experience of management in litigating claims , demonstrate that the monetary relief that may be specified in a lawsuit bears little relevance to the ultimate outcome .', 'much of the tobacco-related litigation is in its early stages , and litigation is subject to uncertainty .', 'however , as discussed below , we have to date been largely successful in defending tobacco-related litigation .', 'we and our subsidiaries record provisions in the consolidated financial statements for pending litigation when we determine that an unfavorable outcome is probable and the amount of the loss can be reasonably estimated .', 'at the present time , while it is reasonably possible that an unfavorable outcome in a case may occur , after assessing the information available to it ( i ) management has not concluded that it is probable that a loss has been incurred in any of the pending tobacco-related cases ; ( ii ) management is unable to estimate the possible loss or range of loss for any of the pending tobacco-related cases ; and ( iii ) accordingly , no estimated loss has been accrued in the consolidated financial statements for unfavorable outcomes in these cases , if any .', 'legal defense costs are expensed as incurred. .'] | ----------------------------------------
( losses ) earnings ( in millions ), ( losses ) earnings 2017, ( losses ) earnings 2016, 2015
currency translation adjustments, $ -5761 ( 5761 ), $ -6091 ( 6091 ), $ -6129 ( 6129 )
pension and other benefits, -2816 ( 2816 ), -3565 ( 3565 ), -3332 ( 3332 )
derivatives accounted for as hedges, 42, 97, 59
total accumulated other comprehensive losses, $ -8535 ( 8535 ), $ -9559 ( 9559 ), $ -9402 ( 9402 )
---------------------------------------- | subtract(-8535, -9559), divide(#0, -9559) | -0.10712 |
what is the range , in thousands , for united states' revenue from 2010-2012? | Pre-text: ['16 .', "leases the company's executive offices and those related to certain domestic product development , marketing , production and administration are located in a 107000 square foot office facility in canonsburg , pennsylvania .", 'in may 2004 , the company entered into the first amendment to its existing lease agreement on this facility , effective january 1 , 2004 .', 'the lease was extended from its original period to a period through 2014 .', 'the company incurred lease rental expense related to this facility of $ 1.3 million in each of the years ended december 31 , 2012 , 2011 and 2010 .', 'the future minimum lease payments are $ 1.4 million per annum from january 1 , 2013 through december 31 , 2014 .', "on september 14 , 2012 , the company entered into a lease agreement for 186000 square feet of rentable space to be located in a to-be-built office facility in canonsburg , pennsylvania , which will serve as the company's new headquarters .", 'the lease was effective as of september 14 , 2012 , but because the leased premises are to-be-built , the company will not be obligated to pay rent until the later of ( i ) three months following the date that the leased premises are delivered to ansys , which delivery , subject to certain limited exceptions , shall occur no later than october 1 , 2014 , or ( ii ) january 1 , 2015 ( such later date , the 201ccommencement date 201d ) .', 'the term of the lease is 183 months , beginning on the commencement date .', "absent the exercise of options in the lease for additional rentable space or early lease termination , the company's base rent will be $ 4.3 million per annum for the first five years of the lease term , $ 4.5 million per annum for years six through ten and $ 4.7 million for years eleven through fifteen .", 'as part of the acquisition of apache on august 1 , 2011 , the company acquired certain leased office property , including executive offices , which comprise a 52000 square foot office facility in san jose , california .', 'in june 2012 , the company entered into a new lease for this property , with the lease term commencing july 1 , 2012 and ending june 30 , 2022 .', 'total remaining minimum payments under the operating lease as of december 31 , 2012 are $ 9.2 million , of which $ 0.9 million will be paid in 2013 .', 'the company has entered into various other noncancellable operating leases for office space .', 'office space lease expense totaled $ 13.7 million , $ 12.8 million and $ 11.5 million for the years ended december 31 , 2012 , 2011 and 2010 , respectively .', 'future minimum lease payments under noncancellable operating leases for office space in effect at december 31 , 2012 are $ 12.6 million in 2013 , $ 10.7 million in 2014 , $ 10.0 million in 2015 , $ 8.2 million in 2016 and $ 7.4 million in 2017 .', '17 .', 'royalty agreements the company has entered into various renewable , nonexclusive license agreements under which the company has been granted access to the licensor 2019s technology and the right to sell the technology in the company 2019s product line .', 'royalties are payable to developers of the software at various rates and amounts , which generally are based upon unit sales or revenue .', 'royalty fees are reported in cost of goods sold and were $ 9.3 million , $ 8.4 million and $ 6.8 million for the years ended december 31 , 2012 , 2011 and 2010 , respectively .', '18 .', 'geographic information revenue to external customers is attributed to individual countries based upon the location of the customer .', 'revenue by geographic area is as follows: .']
##
Tabular Data:
****************************************
( in thousands ) | year ended december 31 , 2012 | year ended december 31 , 2011 | year ended december 31 , 2010
united states | $ 265436 | $ 215924 | $ 188649
japan | 122437 | 112171 | 95498
germany | 82008 | 72301 | 60399
canada | 12384 | 12069 | 9875
other european | 177069 | 166551 | 138157
other international | 138684 | 112433 | 87658
total revenue | $ 798018 | $ 691449 | $ 580236
****************************************
##
Additional Information: ['table of contents .'] | 76787.0 | ANSS/2012/page_93.pdf-3 | ['16 .', "leases the company's executive offices and those related to certain domestic product development , marketing , production and administration are located in a 107000 square foot office facility in canonsburg , pennsylvania .", 'in may 2004 , the company entered into the first amendment to its existing lease agreement on this facility , effective january 1 , 2004 .', 'the lease was extended from its original period to a period through 2014 .', 'the company incurred lease rental expense related to this facility of $ 1.3 million in each of the years ended december 31 , 2012 , 2011 and 2010 .', 'the future minimum lease payments are $ 1.4 million per annum from january 1 , 2013 through december 31 , 2014 .', "on september 14 , 2012 , the company entered into a lease agreement for 186000 square feet of rentable space to be located in a to-be-built office facility in canonsburg , pennsylvania , which will serve as the company's new headquarters .", 'the lease was effective as of september 14 , 2012 , but because the leased premises are to-be-built , the company will not be obligated to pay rent until the later of ( i ) three months following the date that the leased premises are delivered to ansys , which delivery , subject to certain limited exceptions , shall occur no later than october 1 , 2014 , or ( ii ) january 1 , 2015 ( such later date , the 201ccommencement date 201d ) .', 'the term of the lease is 183 months , beginning on the commencement date .', "absent the exercise of options in the lease for additional rentable space or early lease termination , the company's base rent will be $ 4.3 million per annum for the first five years of the lease term , $ 4.5 million per annum for years six through ten and $ 4.7 million for years eleven through fifteen .", 'as part of the acquisition of apache on august 1 , 2011 , the company acquired certain leased office property , including executive offices , which comprise a 52000 square foot office facility in san jose , california .', 'in june 2012 , the company entered into a new lease for this property , with the lease term commencing july 1 , 2012 and ending june 30 , 2022 .', 'total remaining minimum payments under the operating lease as of december 31 , 2012 are $ 9.2 million , of which $ 0.9 million will be paid in 2013 .', 'the company has entered into various other noncancellable operating leases for office space .', 'office space lease expense totaled $ 13.7 million , $ 12.8 million and $ 11.5 million for the years ended december 31 , 2012 , 2011 and 2010 , respectively .', 'future minimum lease payments under noncancellable operating leases for office space in effect at december 31 , 2012 are $ 12.6 million in 2013 , $ 10.7 million in 2014 , $ 10.0 million in 2015 , $ 8.2 million in 2016 and $ 7.4 million in 2017 .', '17 .', 'royalty agreements the company has entered into various renewable , nonexclusive license agreements under which the company has been granted access to the licensor 2019s technology and the right to sell the technology in the company 2019s product line .', 'royalties are payable to developers of the software at various rates and amounts , which generally are based upon unit sales or revenue .', 'royalty fees are reported in cost of goods sold and were $ 9.3 million , $ 8.4 million and $ 6.8 million for the years ended december 31 , 2012 , 2011 and 2010 , respectively .', '18 .', 'geographic information revenue to external customers is attributed to individual countries based upon the location of the customer .', 'revenue by geographic area is as follows: .'] | ['table of contents .'] | ****************************************
( in thousands ) | year ended december 31 , 2012 | year ended december 31 , 2011 | year ended december 31 , 2010
united states | $ 265436 | $ 215924 | $ 188649
japan | 122437 | 112171 | 95498
germany | 82008 | 72301 | 60399
canada | 12384 | 12069 | 9875
other european | 177069 | 166551 | 138157
other international | 138684 | 112433 | 87658
total revenue | $ 798018 | $ 691449 | $ 580236
**************************************** | subtract(265436, 188649) | 76787.0 |
what was the difference in percentage cumulative total return for goldman sachs group inc . and the s&p 500 index for the five year period ending 12/31/13? | Pre-text: ['supplemental financial information common stock performance the following graph compares the performance of an investment in the firm 2019s common stock from december 26 , 2008 ( the last trading day before the firm 2019s 2009 fiscal year ) through december 31 , 2013 , with the s&p 500 index and the s&p 500 financials index .', 'the graph assumes $ 100 was invested on december 26 , 2008 in each of the firm 2019s common stock , the s&p 500 index and the s&p 500 financials index , and the dividends were reinvested on the date of payment without payment of any commissions .', 'the performance shown in the graph represents past performance and should not be considered an indication of future performance .', 'the goldman sachs group , inc .', 's&p 500 index s&p 500 financials index dec-09 dec-10 dec-11 dec-12 dec-13dec-08 the table below shows the cumulative total returns in dollars of the firm 2019s common stock , the s&p 500 index and the s&p 500 financials index for goldman sachs 2019 last five fiscal year ends , assuming $ 100 was invested on december 26 , 2008 in each of the firm 2019s common stock , the s&p 500 index and the s&p 500 financials index , and the dividends were reinvested on the date of payment without payment of any commissions .', 'the performance shown in the table represents past performance and should not be considered an indication of future performance. .']
####
Table:
----------------------------------------
• , 12/26/08, 12/31/09, 12/31/10, 12/31/11, 12/31/12, 12/31/13
• the goldman sachs group inc ., $ 100.00, $ 224.98, $ 226.19, $ 123.05, $ 176.42, $ 248.36
• s&p 500 index, 100.00, 130.93, 150.65, 153.83, 178.42, 236.20
• s&p 500 financials index, 100.00, 124.38, 139.47, 115.67, 148.92, 201.92
----------------------------------------
####
Additional Information: ['218 goldman sachs 2013 annual report .'] | 0.1216 | GS/2013/page_220.pdf-2 | ['supplemental financial information common stock performance the following graph compares the performance of an investment in the firm 2019s common stock from december 26 , 2008 ( the last trading day before the firm 2019s 2009 fiscal year ) through december 31 , 2013 , with the s&p 500 index and the s&p 500 financials index .', 'the graph assumes $ 100 was invested on december 26 , 2008 in each of the firm 2019s common stock , the s&p 500 index and the s&p 500 financials index , and the dividends were reinvested on the date of payment without payment of any commissions .', 'the performance shown in the graph represents past performance and should not be considered an indication of future performance .', 'the goldman sachs group , inc .', 's&p 500 index s&p 500 financials index dec-09 dec-10 dec-11 dec-12 dec-13dec-08 the table below shows the cumulative total returns in dollars of the firm 2019s common stock , the s&p 500 index and the s&p 500 financials index for goldman sachs 2019 last five fiscal year ends , assuming $ 100 was invested on december 26 , 2008 in each of the firm 2019s common stock , the s&p 500 index and the s&p 500 financials index , and the dividends were reinvested on the date of payment without payment of any commissions .', 'the performance shown in the table represents past performance and should not be considered an indication of future performance. .'] | ['218 goldman sachs 2013 annual report .'] | ----------------------------------------
• , 12/26/08, 12/31/09, 12/31/10, 12/31/11, 12/31/12, 12/31/13
• the goldman sachs group inc ., $ 100.00, $ 224.98, $ 226.19, $ 123.05, $ 176.42, $ 248.36
• s&p 500 index, 100.00, 130.93, 150.65, 153.83, 178.42, 236.20
• s&p 500 financials index, 100.00, 124.38, 139.47, 115.67, 148.92, 201.92
---------------------------------------- | subtract(248.36, const_100), divide(#0, const_100), subtract(236.20, const_100), divide(#2, const_100), subtract(#1, #3) | 0.1216 |
what was the percentage decline in the dividend yield from 2009 to 2010 | Context: ['tax benefits recognized for stock-based compensation during the years ended december 31 , 2011 , 2010 and 2009 , were $ 16 million , $ 6 million and $ 5 million , respectively .', 'the amount of northrop grumman shares issued before the spin-off to satisfy stock-based compensation awards are recorded by northrop grumman and , accordingly , are not reflected in hii 2019s consolidated financial statements .', 'the company realized tax benefits during the year ended december 31 , 2011 , of $ 2 million from the exercise of stock options and $ 10 million from the issuance of stock in settlement of rpsrs and rsrs .', 'unrecognized compensation expense at december 31 , 2011 there was $ 1 million of unrecognized compensation expense related to unvested stock option awards , which will be recognized over a weighted average period of 1.1 years .', 'in addition , at december 31 , 2011 , there was $ 19 million of unrecognized compensation expense associated with the 2011 rsrs , which will be recognized over a period of 2.2 years ; $ 10 million of unrecognized compensation expense associated with the rpsrs converted as part of the spin-off , which will be recognized over a weighted average period of one year ; and $ 18 million of unrecognized compensation expense associated with the 2011 rpsrs which will be recognized over a period of 2.0 years .', 'stock options the compensation expense for the outstanding converted stock options was determined at the time of grant by northrop grumman .', 'there were no additional options granted during the year ended december 31 , 2011 .', 'the fair value of the stock option awards is expensed on a straight-line basis over the vesting period of the options .', 'the fair value of each of the stock option award was estimated on the date of grant using a black-scholes option pricing model based on the following assumptions : dividend yield 2014the dividend yield was based on northrop grumman 2019s historical dividend yield level .', 'volatility 2014expected volatility was based on the average of the implied volatility from traded options and the historical volatility of northrop grumman 2019s stock .', 'risk-free interest rate 2014the risk-free rate for periods within the contractual life of the stock option award was based on the yield curve of a zero-coupon u.s .', 'treasury bond on the date the award was granted with a maturity equal to the expected term of the award .', 'expected term 2014the expected term of awards granted was derived from historical experience and represents the period of time that awards granted are expected to be outstanding .', 'a stratification of expected terms based on employee populations ( executive and non-executive ) was considered in the analysis .', 'the following significant weighted-average assumptions were used to value stock options granted during the years ended december 31 , 2010 and 2009: .']
------
Tabular Data:
| 2010 | 2009
dividend yield | 2.9% ( 2.9 % ) | 3.6% ( 3.6 % )
volatility rate | 25% ( 25 % ) | 25% ( 25 % )
risk-free interest rate | 2.3% ( 2.3 % ) | 1.7% ( 1.7 % )
expected option life ( years ) | 6 | 5 & 6
------
Additional Information: ['the weighted-average grant date fair value of stock options granted during the years ended december 31 , 2010 and 2009 , was $ 11 and $ 7 , per share , respectively. .'] | -0.19444 | HII/2011/page_114.pdf-3 | ['tax benefits recognized for stock-based compensation during the years ended december 31 , 2011 , 2010 and 2009 , were $ 16 million , $ 6 million and $ 5 million , respectively .', 'the amount of northrop grumman shares issued before the spin-off to satisfy stock-based compensation awards are recorded by northrop grumman and , accordingly , are not reflected in hii 2019s consolidated financial statements .', 'the company realized tax benefits during the year ended december 31 , 2011 , of $ 2 million from the exercise of stock options and $ 10 million from the issuance of stock in settlement of rpsrs and rsrs .', 'unrecognized compensation expense at december 31 , 2011 there was $ 1 million of unrecognized compensation expense related to unvested stock option awards , which will be recognized over a weighted average period of 1.1 years .', 'in addition , at december 31 , 2011 , there was $ 19 million of unrecognized compensation expense associated with the 2011 rsrs , which will be recognized over a period of 2.2 years ; $ 10 million of unrecognized compensation expense associated with the rpsrs converted as part of the spin-off , which will be recognized over a weighted average period of one year ; and $ 18 million of unrecognized compensation expense associated with the 2011 rpsrs which will be recognized over a period of 2.0 years .', 'stock options the compensation expense for the outstanding converted stock options was determined at the time of grant by northrop grumman .', 'there were no additional options granted during the year ended december 31 , 2011 .', 'the fair value of the stock option awards is expensed on a straight-line basis over the vesting period of the options .', 'the fair value of each of the stock option award was estimated on the date of grant using a black-scholes option pricing model based on the following assumptions : dividend yield 2014the dividend yield was based on northrop grumman 2019s historical dividend yield level .', 'volatility 2014expected volatility was based on the average of the implied volatility from traded options and the historical volatility of northrop grumman 2019s stock .', 'risk-free interest rate 2014the risk-free rate for periods within the contractual life of the stock option award was based on the yield curve of a zero-coupon u.s .', 'treasury bond on the date the award was granted with a maturity equal to the expected term of the award .', 'expected term 2014the expected term of awards granted was derived from historical experience and represents the period of time that awards granted are expected to be outstanding .', 'a stratification of expected terms based on employee populations ( executive and non-executive ) was considered in the analysis .', 'the following significant weighted-average assumptions were used to value stock options granted during the years ended december 31 , 2010 and 2009: .'] | ['the weighted-average grant date fair value of stock options granted during the years ended december 31 , 2010 and 2009 , was $ 11 and $ 7 , per share , respectively. .'] | | 2010 | 2009
dividend yield | 2.9% ( 2.9 % ) | 3.6% ( 3.6 % )
volatility rate | 25% ( 25 % ) | 25% ( 25 % )
risk-free interest rate | 2.3% ( 2.3 % ) | 1.7% ( 1.7 % )
expected option life ( years ) | 6 | 5 & 6 | subtract(2.9, 3.6), divide(#0, 3.6) | -0.19444 |
what was the average cash provided by operating activities from 2011 to 2013 | Pre-text: ['increase in dividends paid .', 'free cash flow is defined as cash provided by operating activities less cash used in investing activities and dividends paid .', 'free cash flow is not considered a financial measure under accounting principles generally accepted in the u.s .', '( gaap ) by sec regulation g and item 10 of sec regulation s-k and may not be defined and calculated by other companies in the same manner .', 'we believe free cash flow is important to management and investors in evaluating our financial performance and measures our ability to generate cash without additional external financings .', 'free cash flow should be considered in addition to , rather than as a substitute for , cash provided by operating activities .', 'the following table reconciles cash provided by operating activities ( gaap measure ) to free cash flow ( non-gaap measure ) : millions 2013 2012 2011 .']
Table:
millions, 2013, 2012, 2011
cash provided by operating activities, $ 6823, $ 6161, $ 5873
cash used in investing activities, -3405 ( 3405 ), -3633 ( 3633 ), -3119 ( 3119 )
dividends paid, -1333 ( 1333 ), -1146 ( 1146 ), -837 ( 837 )
free cash flow, $ 2085, $ 1382, $ 1917
Follow-up: ['2014 outlook f0b7 safety 2013 operating a safe railroad benefits our employees , our customers , our shareholders , and the communities we serve .', 'we will continue using a multi-faceted approach to safety , utilizing technology , risk assessment , quality control , training and employee engagement , and targeted capital investments .', 'we will continue using and expanding the deployment of total safety culture and courage to care throughout our operations , which allows us to identify and implement best practices for employee and operational safety .', 'derailment prevention and the reduction of grade crossing incidents are also critical aspects of our safety programs .', 'we will continue our efforts to increase detection of rail defects ; improve or close crossings ; and educate the public and law enforcement agencies about crossing safety through a combination of our own programs ( including risk assessment strategies ) , various industry programs and local community activities across our network .', 'f0b7 network operations 2013 we believe the railroad is capable of handling growing volumes while providing high levels of customer service .', 'our track structure is in excellent condition , and certain sections of our network have surplus line and terminal capacity .', 'we are in a solid resource position , with sufficient supplies of locomotives , freight cars and crews to support growth .', 'f0b7 fuel prices 2013 uncertainty about the economy makes projections of fuel prices difficult .', 'we again could see volatile fuel prices during the year , as they are sensitive to global and u.s .', 'domestic demand , refining capacity , geopolitical events , weather conditions and other factors .', 'to reduce the impact of fuel price on earnings , we will continue seeking cost recovery from our customers through our fuel surcharge programs and expanding our fuel conservation efforts .', 'f0b7 capital plan 2013 in 2014 , we plan to make total capital investments of approximately $ 3.9 billion , including expenditures for positive train control ( ptc ) , which may be revised if business conditions warrant or if new laws or regulations affect our ability to generate sufficient returns on these investments .', '( see further discussion in this item 7 under liquidity and capital resources 2013 capital plan. ) f0b7 positive train control 2013 in response to a legislative mandate to implement ptc by the end of 2015 , we have invested $ 1.2 billion in capital expenditures and plan to spend an additional $ 450 million during 2014 on developing and deploying ptc .', 'we currently estimate that ptc , in accordance with implementing rules issued by the federal rail administration ( fra ) , will cost us approximately $ 2 billion by the end of the project .', 'this includes costs for installing the new system along our tracks , upgrading locomotives to work with the new system , and adding digital data communication equipment to integrate the various components of the system and achieve interoperability for the industry .', 'although it is unlikely that the rail industry will meet the current mandatory 2015 deadline ( as the fra indicated in its 2012 report to congress ) , we are making a good faith effort to do so and we are working closely with regulators as we implement this new technology. .'] | 6285.66667 | UNP/2013/page_24.pdf-1 | ['increase in dividends paid .', 'free cash flow is defined as cash provided by operating activities less cash used in investing activities and dividends paid .', 'free cash flow is not considered a financial measure under accounting principles generally accepted in the u.s .', '( gaap ) by sec regulation g and item 10 of sec regulation s-k and may not be defined and calculated by other companies in the same manner .', 'we believe free cash flow is important to management and investors in evaluating our financial performance and measures our ability to generate cash without additional external financings .', 'free cash flow should be considered in addition to , rather than as a substitute for , cash provided by operating activities .', 'the following table reconciles cash provided by operating activities ( gaap measure ) to free cash flow ( non-gaap measure ) : millions 2013 2012 2011 .'] | ['2014 outlook f0b7 safety 2013 operating a safe railroad benefits our employees , our customers , our shareholders , and the communities we serve .', 'we will continue using a multi-faceted approach to safety , utilizing technology , risk assessment , quality control , training and employee engagement , and targeted capital investments .', 'we will continue using and expanding the deployment of total safety culture and courage to care throughout our operations , which allows us to identify and implement best practices for employee and operational safety .', 'derailment prevention and the reduction of grade crossing incidents are also critical aspects of our safety programs .', 'we will continue our efforts to increase detection of rail defects ; improve or close crossings ; and educate the public and law enforcement agencies about crossing safety through a combination of our own programs ( including risk assessment strategies ) , various industry programs and local community activities across our network .', 'f0b7 network operations 2013 we believe the railroad is capable of handling growing volumes while providing high levels of customer service .', 'our track structure is in excellent condition , and certain sections of our network have surplus line and terminal capacity .', 'we are in a solid resource position , with sufficient supplies of locomotives , freight cars and crews to support growth .', 'f0b7 fuel prices 2013 uncertainty about the economy makes projections of fuel prices difficult .', 'we again could see volatile fuel prices during the year , as they are sensitive to global and u.s .', 'domestic demand , refining capacity , geopolitical events , weather conditions and other factors .', 'to reduce the impact of fuel price on earnings , we will continue seeking cost recovery from our customers through our fuel surcharge programs and expanding our fuel conservation efforts .', 'f0b7 capital plan 2013 in 2014 , we plan to make total capital investments of approximately $ 3.9 billion , including expenditures for positive train control ( ptc ) , which may be revised if business conditions warrant or if new laws or regulations affect our ability to generate sufficient returns on these investments .', '( see further discussion in this item 7 under liquidity and capital resources 2013 capital plan. ) f0b7 positive train control 2013 in response to a legislative mandate to implement ptc by the end of 2015 , we have invested $ 1.2 billion in capital expenditures and plan to spend an additional $ 450 million during 2014 on developing and deploying ptc .', 'we currently estimate that ptc , in accordance with implementing rules issued by the federal rail administration ( fra ) , will cost us approximately $ 2 billion by the end of the project .', 'this includes costs for installing the new system along our tracks , upgrading locomotives to work with the new system , and adding digital data communication equipment to integrate the various components of the system and achieve interoperability for the industry .', 'although it is unlikely that the rail industry will meet the current mandatory 2015 deadline ( as the fra indicated in its 2012 report to congress ) , we are making a good faith effort to do so and we are working closely with regulators as we implement this new technology. .'] | millions, 2013, 2012, 2011
cash provided by operating activities, $ 6823, $ 6161, $ 5873
cash used in investing activities, -3405 ( 3405 ), -3633 ( 3633 ), -3119 ( 3119 )
dividends paid, -1333 ( 1333 ), -1146 ( 1146 ), -837 ( 837 )
free cash flow, $ 2085, $ 1382, $ 1917 | add(6823, 6161), add(#0, 5873), divide(#1, const_3) | 6285.66667 |
what was the percent of growth or decline in the total intangibles 2014 net from 2007 to 2008 | Pre-text: ['on the underlying exposure .', 'for derivative contracts that are designated and qualify as cash fl ow hedges , the effective portion of gains and losses on these contracts is reported as a component of other comprehensive income and reclassifi ed into earnings in the same period the hedged transaction affects earnings .', 'hedge ineffectiveness is immediately recognized in earnings .', 'derivative contracts that are not designated as hedging instruments are recorded at fair value with the gain or loss recognized in current earnings during the period of change .', 'we may enter into foreign currency forward and option contracts to reduce the effect of fl uctuating currency exchange rates ( principally the euro , the british pound , and the japanese yen ) .', 'foreign currency derivatives used for hedging are put in place using the same or like currencies and duration as the underlying exposures .', 'forward contracts are principally used to manage exposures arising from subsidiary trade and loan payables and receivables denominated in foreign currencies .', 'these contracts are recorded at fair value with the gain or loss recognized in other 2014net .', 'the purchased option contracts are used to hedge anticipated foreign currency transactions , primarily intercompany inventory activities expected to occur within the next year .', 'these contracts are designated as cash fl ow hedges of those future transactions and the impact on earnings is included in cost of sales .', 'we may enter into foreign currency forward contracts and currency swaps as fair value hedges of fi rm commitments .', 'forward and option contracts generally have maturities not exceeding 12 months .', 'in the normal course of business , our operations are exposed to fl uctuations in interest rates .', 'these fl uctuations can vary the costs of fi nancing , investing , and operating .', 'we address a portion of these risks through a controlled program of risk management that includes the use of derivative fi nancial instruments .', 'the objective of controlling these risks is to limit the impact of fl uctuations in interest rates on earnings .', 'our primary interest rate risk exposure results from changes in short-term u.s .', 'dollar interest rates .', 'in an effort to manage interest rate exposures , we strive to achieve an acceptable balance between fi xed and fl oating rate debt and investment positions and may enter into interest rate swaps or collars to help maintain that balance .', 'interest rate swaps or collars that convert our fi xed- rate debt or investments to a fl oating rate are designated as fair value hedges of the underlying instruments .', 'interest rate swaps or collars that convert fl oating rate debt or investments to a fi xed rate are designated as cash fl ow hedg- es .', 'interest expense on the debt is adjusted to include the payments made or received under the swap agreements .', 'goodwill and other intangibles : goodwill is not amortized .', 'all other intangibles arising from acquisitions and research alliances have fi nite lives and are amortized over their estimated useful lives , ranging from 5 to 20 years , using the straight-line method .', 'the weighted-average amortization period for developed product technology is approximately 12 years .', 'amortization expense for 2008 , 2007 , and 2006 was $ 193.4 million , $ 172.8 million , and $ 7.6 million before tax , respectively .', 'the estimated amortization expense for each of the fi ve succeeding years approximates $ 280 million before tax , per year .', 'substantially all of the amortization expense is included in cost of sales .', 'see note 3 for further discussion of goodwill and other intangibles acquired in 2008 and 2007 .', 'goodwill and other intangible assets at december 31 were as follows: .']
--------
Data Table:
****************************************
• , 2008, 2007
• goodwill, $ 1167.5, $ 745.7
• developed product technology 2014 gross, 3035.4, 1767.5
• less accumulated amortization, -346.6 ( 346.6 ), -162.6 ( 162.6 )
• developed product technology 2014 net, 2688.8, 1604.9
• other intangibles 2014 gross, 243.2, 142.8
• less accumulated amortization, -45.4 ( 45.4 ), -38.0 ( 38.0 )
• other intangibles 2014 net, 197.8, 104.8
• total intangibles 2014 net, $ 4054.1, $ 2455.4
****************************************
--------
Follow-up: ['goodwill and net other intangibles are reviewed to assess recoverability at least annually and when certain impairment indicators are present .', 'no signifi cant impairments occurred with respect to the carrying value of our goodwill or other intangible assets in 2008 , 2007 , or 2006 .', 'property and equipment : property and equipment is stated on the basis of cost .', 'provisions for depreciation of buildings and equipment are computed generally by the straight-line method at rates based on their estimated useful lives ( 12 to 50 years for buildings and 3 to 18 years for equipment ) .', 'we review the carrying value of long-lived assets for potential impairment on a periodic basis and whenever events or changes in circumstances indicate the .'] | 0.6511 | LLY/2008/page_39.pdf-1 | ['on the underlying exposure .', 'for derivative contracts that are designated and qualify as cash fl ow hedges , the effective portion of gains and losses on these contracts is reported as a component of other comprehensive income and reclassifi ed into earnings in the same period the hedged transaction affects earnings .', 'hedge ineffectiveness is immediately recognized in earnings .', 'derivative contracts that are not designated as hedging instruments are recorded at fair value with the gain or loss recognized in current earnings during the period of change .', 'we may enter into foreign currency forward and option contracts to reduce the effect of fl uctuating currency exchange rates ( principally the euro , the british pound , and the japanese yen ) .', 'foreign currency derivatives used for hedging are put in place using the same or like currencies and duration as the underlying exposures .', 'forward contracts are principally used to manage exposures arising from subsidiary trade and loan payables and receivables denominated in foreign currencies .', 'these contracts are recorded at fair value with the gain or loss recognized in other 2014net .', 'the purchased option contracts are used to hedge anticipated foreign currency transactions , primarily intercompany inventory activities expected to occur within the next year .', 'these contracts are designated as cash fl ow hedges of those future transactions and the impact on earnings is included in cost of sales .', 'we may enter into foreign currency forward contracts and currency swaps as fair value hedges of fi rm commitments .', 'forward and option contracts generally have maturities not exceeding 12 months .', 'in the normal course of business , our operations are exposed to fl uctuations in interest rates .', 'these fl uctuations can vary the costs of fi nancing , investing , and operating .', 'we address a portion of these risks through a controlled program of risk management that includes the use of derivative fi nancial instruments .', 'the objective of controlling these risks is to limit the impact of fl uctuations in interest rates on earnings .', 'our primary interest rate risk exposure results from changes in short-term u.s .', 'dollar interest rates .', 'in an effort to manage interest rate exposures , we strive to achieve an acceptable balance between fi xed and fl oating rate debt and investment positions and may enter into interest rate swaps or collars to help maintain that balance .', 'interest rate swaps or collars that convert our fi xed- rate debt or investments to a fl oating rate are designated as fair value hedges of the underlying instruments .', 'interest rate swaps or collars that convert fl oating rate debt or investments to a fi xed rate are designated as cash fl ow hedg- es .', 'interest expense on the debt is adjusted to include the payments made or received under the swap agreements .', 'goodwill and other intangibles : goodwill is not amortized .', 'all other intangibles arising from acquisitions and research alliances have fi nite lives and are amortized over their estimated useful lives , ranging from 5 to 20 years , using the straight-line method .', 'the weighted-average amortization period for developed product technology is approximately 12 years .', 'amortization expense for 2008 , 2007 , and 2006 was $ 193.4 million , $ 172.8 million , and $ 7.6 million before tax , respectively .', 'the estimated amortization expense for each of the fi ve succeeding years approximates $ 280 million before tax , per year .', 'substantially all of the amortization expense is included in cost of sales .', 'see note 3 for further discussion of goodwill and other intangibles acquired in 2008 and 2007 .', 'goodwill and other intangible assets at december 31 were as follows: .'] | ['goodwill and net other intangibles are reviewed to assess recoverability at least annually and when certain impairment indicators are present .', 'no signifi cant impairments occurred with respect to the carrying value of our goodwill or other intangible assets in 2008 , 2007 , or 2006 .', 'property and equipment : property and equipment is stated on the basis of cost .', 'provisions for depreciation of buildings and equipment are computed generally by the straight-line method at rates based on their estimated useful lives ( 12 to 50 years for buildings and 3 to 18 years for equipment ) .', 'we review the carrying value of long-lived assets for potential impairment on a periodic basis and whenever events or changes in circumstances indicate the .'] | ****************************************
• , 2008, 2007
• goodwill, $ 1167.5, $ 745.7
• developed product technology 2014 gross, 3035.4, 1767.5
• less accumulated amortization, -346.6 ( 346.6 ), -162.6 ( 162.6 )
• developed product technology 2014 net, 2688.8, 1604.9
• other intangibles 2014 gross, 243.2, 142.8
• less accumulated amortization, -45.4 ( 45.4 ), -38.0 ( 38.0 )
• other intangibles 2014 net, 197.8, 104.8
• total intangibles 2014 net, $ 4054.1, $ 2455.4
**************************************** | subtract(4054.1, 2455.4), divide(#0, 2455.4) | 0.6511 |
what was the percentage change in total expense for repairs and maintenance from 2013 to 2014? | Background: ['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 $ 2.4 billion for 2014 , $ 2.3 billion for 2013 , and $ 2.1 billion for 2012 .', 'assets held under capital leases are recorded at the lower of the net present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease .', 'amortization expense is computed using the straight-line method over the shorter of the estimated useful lives of the assets or the period of the related lease .', '13 .', 'accounts payable and other current liabilities dec .', '31 , dec .', '31 , millions 2014 2013 .']
########
Tabular Data:
****************************************
• millions, dec . 31 2014, dec . 312013
• accounts payable, $ 877, $ 803
• dividends payable, 438, 356
• income and other taxes payable, 412, 491
• accrued wages and vacation, 409, 385
• accrued casualty costs, 249, 207
• interest payable, 178, 169
• equipment rents payable, 100, 96
• other, 640, 579
• total accounts payable and othercurrent liabilities, $ 3303, $ 3086
****************************************
########
Follow-up: ['.'] | 0.04348 | UNP/2014/page_75.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 $ 2.4 billion for 2014 , $ 2.3 billion for 2013 , and $ 2.1 billion for 2012 .', 'assets held under capital leases are recorded at the lower of the net present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease .', 'amortization expense is computed using the straight-line method over the shorter of the estimated useful lives of the assets or the period of the related lease .', '13 .', 'accounts payable and other current liabilities dec .', '31 , dec .', '31 , millions 2014 2013 .'] | ['.'] | ****************************************
• millions, dec . 31 2014, dec . 312013
• accounts payable, $ 877, $ 803
• dividends payable, 438, 356
• income and other taxes payable, 412, 491
• accrued wages and vacation, 409, 385
• accrued casualty costs, 249, 207
• interest payable, 178, 169
• equipment rents payable, 100, 96
• other, 640, 579
• total accounts payable and othercurrent liabilities, $ 3303, $ 3086
**************************************** | subtract(2.4, 2.3), divide(#0, 2.3) | 0.04348 |
what percent of the total owned and leased capability is from nuclear? | Pre-text: ['part i item 1 entergy corporation , utility operating companies , and system energy louisiana parishes in which it holds non-exclusive franchises .', "entergy louisiana's electric franchises expire during 2009-2036 .", 'entergy mississippi has received from the mpsc certificates of public convenience and necessity to provide electric service to areas within 45 counties , including a number of municipalities , in western mississippi .', 'under mississippi statutory law , such certificates are exclusive .', 'entergy mississippi may continue to serve in such municipalities upon payment of a statutory franchise fee , regardless of whether an original municipal franchise is still in existence .', 'entergy new orleans provides electric and gas service in the city of new orleans pursuant to city ordinances ( except electric service in algiers , which is provided by entergy louisiana ) .', "these ordinances contain a continuing option for the city of new orleans to purchase entergy new orleans' electric and gas utility properties .", 'entergy texas holds a certificate of convenience and necessity from the puct to provide electric service to areas within approximately 24 counties in eastern texas , and holds non-exclusive franchises to provide electric service in approximately 65 incorporated municipalities .', 'entergy texas typically is granted 50-year franchises .', "entergy texas' electric franchises expire during 2009-2045 .", 'the business of system energy is limited to wholesale power sales .', 'it has no distribution franchises .', 'property and other generation resources generating stations the total capability of the generating stations owned and leased by the utility operating companies and system energy as of december 31 , 2008 , is indicated below: .']
########
Data Table:
----------------------------------------
company, owned and leased capability mw ( 1 ) total, owned and leased capability mw ( 1 ) gas/oil, owned and leased capability mw ( 1 ) nuclear, owned and leased capability mw ( 1 ) coal, owned and leased capability mw ( 1 ) hydro
entergy arkansas, 4999, 1883, 1839, 1207, 70
entergy gulf states louisiana, 3574, 2240, 971, 363, -
entergy louisiana, 5854, 4685, 1169, -, -
entergy mississippi, 3224, 2804, -, 420, -
entergy new orleans, 745, 745, -, -, -
entergy texas, 2543, 2274, -, 269, -
system energy, 1139, -, 1139, -, -
total, 22078, 14631, 5118, 2259, 70
----------------------------------------
########
Follow-up: ['( 1 ) "owned and leased capability" is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel ( assuming no curtailments ) that each station was designed to utilize .', "the entergy system's load and capacity projections are reviewed periodically to assess the need and timing for additional generating capacity and interconnections .", 'these reviews consider existing and projected demand , the availability and price of power , the location of new load , and the economy .', 'summer peak load in the entergy system service territory has averaged 21039 mw from 2002-2008 .', 'due to changing use patterns , peak load growth has nearly flattened while annual energy use continues to grow .', "in the 2002 time period , the entergy system's long-term capacity resources , allowing for an adequate reserve margin , were approximately 3000 mw less than the total capacity required for peak period demands .", 'in this time period entergy met its capacity shortages almost entirely through short-term power purchases in the wholesale spot market .', 'in the fall of 2002 , the entergy system began a program to add new resources to its existing generation portfolio and began a process of issuing .'] | 0.23181 | ETR/2008/page_212.pdf-2 | ['part i item 1 entergy corporation , utility operating companies , and system energy louisiana parishes in which it holds non-exclusive franchises .', "entergy louisiana's electric franchises expire during 2009-2036 .", 'entergy mississippi has received from the mpsc certificates of public convenience and necessity to provide electric service to areas within 45 counties , including a number of municipalities , in western mississippi .', 'under mississippi statutory law , such certificates are exclusive .', 'entergy mississippi may continue to serve in such municipalities upon payment of a statutory franchise fee , regardless of whether an original municipal franchise is still in existence .', 'entergy new orleans provides electric and gas service in the city of new orleans pursuant to city ordinances ( except electric service in algiers , which is provided by entergy louisiana ) .', "these ordinances contain a continuing option for the city of new orleans to purchase entergy new orleans' electric and gas utility properties .", 'entergy texas holds a certificate of convenience and necessity from the puct to provide electric service to areas within approximately 24 counties in eastern texas , and holds non-exclusive franchises to provide electric service in approximately 65 incorporated municipalities .', 'entergy texas typically is granted 50-year franchises .', "entergy texas' electric franchises expire during 2009-2045 .", 'the business of system energy is limited to wholesale power sales .', 'it has no distribution franchises .', 'property and other generation resources generating stations the total capability of the generating stations owned and leased by the utility operating companies and system energy as of december 31 , 2008 , is indicated below: .'] | ['( 1 ) "owned and leased capability" is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel ( assuming no curtailments ) that each station was designed to utilize .', "the entergy system's load and capacity projections are reviewed periodically to assess the need and timing for additional generating capacity and interconnections .", 'these reviews consider existing and projected demand , the availability and price of power , the location of new load , and the economy .', 'summer peak load in the entergy system service territory has averaged 21039 mw from 2002-2008 .', 'due to changing use patterns , peak load growth has nearly flattened while annual energy use continues to grow .', "in the 2002 time period , the entergy system's long-term capacity resources , allowing for an adequate reserve margin , were approximately 3000 mw less than the total capacity required for peak period demands .", 'in this time period entergy met its capacity shortages almost entirely through short-term power purchases in the wholesale spot market .', 'in the fall of 2002 , the entergy system began a program to add new resources to its existing generation portfolio and began a process of issuing .'] | ----------------------------------------
company, owned and leased capability mw ( 1 ) total, owned and leased capability mw ( 1 ) gas/oil, owned and leased capability mw ( 1 ) nuclear, owned and leased capability mw ( 1 ) coal, owned and leased capability mw ( 1 ) hydro
entergy arkansas, 4999, 1883, 1839, 1207, 70
entergy gulf states louisiana, 3574, 2240, 971, 363, -
entergy louisiana, 5854, 4685, 1169, -, -
entergy mississippi, 3224, 2804, -, 420, -
entergy new orleans, 745, 745, -, -, -
entergy texas, 2543, 2274, -, 269, -
system energy, 1139, -, 1139, -, -
total, 22078, 14631, 5118, 2259, 70
---------------------------------------- | divide(5118, 22078) | 0.23181 |
what is the percentage change in noncontrolling interest relating to the remaining units from 2009 to 2010? | Pre-text: ['kimco realty corporation and subsidiaries notes to consolidated financial statements , continued the units consisted of ( i ) approximately 81.8 million preferred a units par value $ 1.00 per unit , which pay the holder a return of 7.0% ( 7.0 % ) per annum on the preferred a par value and are redeemable for cash by the holder at any time after one year or callable by the company any time after six months and contain a promote feature based upon an increase in net operating income of the properties capped at a 10.0% ( 10.0 % ) increase , ( ii ) 2000 class a preferred units , par value $ 10000 per unit , which pay the holder a return equal to libor plus 2.0% ( 2.0 % ) per annum on the class a preferred par value and are redeemable for cash by the holder at any time after november 30 , 2010 , ( iii ) 2627 class b-1 preferred units , par value $ 10000 per unit , which pay the holder a return equal to 7.0% ( 7.0 % ) per annum on the class b-1 preferred par value and are redeemable by the holder at any time after november 30 , 2010 , for cash or at the company 2019s option , shares of the company 2019s common stock , equal to the cash redemption amount , as defined , ( iv ) 5673 class b-2 preferred units , par value $ 10000 per unit , which pay the holder a return equal to 7.0% ( 7.0 % ) per annum on the class b-2 preferred par value and are redeemable for cash by the holder at any time after november 30 , 2010 , and ( v ) 640001 class c downreit units , valued at an issuance price of $ 30.52 per unit which pay the holder a return at a rate equal to the company 2019s common stock dividend and are redeemable by the holder at any time after november 30 , 2010 , for cash or at the company 2019s option , shares of the company 2019s common stock equal to the class c cash amount , as defined .', 'the following units have been redeemed as of december 31 , 2010 : redeemed par value redeemed ( in millions ) redemption type .']
Tabular Data:
----------------------------------------
type units redeemed par value redeemed ( in millions ) redemption type
preferred a units 2200000 $ 2.2 cash
class a preferred units 2000 $ 20.0 cash
class b-1 preferred units 2438 $ 24.4 cash
class b-2 preferred units 5576 $ 55.8 cash/charitable contribution
class c downreit units 61804 $ 1.9 cash
----------------------------------------
Additional Information: ['noncontrolling interest relating to the remaining units was $ 110.4 million and $ 113.1 million as of december 31 , 2010 and 2009 , respectively .', 'during 2006 , the company acquired two shopping center properties located in bay shore and centereach , ny .', 'included in noncontrolling interests was approximately $ 41.6 million , including a discount of $ 0.3 million and a fair market value adjustment of $ 3.8 million , in redeemable units ( the 201credeemable units 201d ) , issued by the company in connection with these transactions .', 'the prop- erties were acquired through the issuance of $ 24.2 million of redeemable units , which are redeemable at the option of the holder ; approximately $ 14.0 million of fixed rate redeemable units and the assumption of approximately $ 23.4 million of non-recourse debt .', 'the redeemable units consist of ( i ) 13963 class a units , par value $ 1000 per unit , which pay the holder a return of 5% ( 5 % ) per annum of the class a par value and are redeemable for cash by the holder at any time after april 3 , 2011 , or callable by the company any time after april 3 , 2016 , and ( ii ) 647758 class b units , valued at an issuance price of $ 37.24 per unit , which pay the holder a return at a rate equal to the company 2019s common stock dividend and are redeemable by the holder at any time after april 3 , 2007 , for cash or at the option of the company for common stock at a ratio of 1:1 , or callable by the company any time after april 3 , 2026 .', 'the company is restricted from disposing of these assets , other than through a tax free transaction , until april 2016 and april 2026 for the centereach , ny , and bay shore , ny , assets , respectively .', 'during 2007 , 30000 units , or $ 1.1 million par value , of theclass bunits were redeemed by the holder in cash at the option of the company .', 'noncontrolling interest relating to the units was $ 40.4 million and $ 40.3 million as of december 31 , 2010 and 2009 , respectively .', 'noncontrolling interests also includes 138015 convertible units issued during 2006 , by the company , which were valued at approxi- mately $ 5.3 million , including a fair market value adjustment of $ 0.3 million , related to an interest acquired in an office building located in albany , ny .', 'these units are redeemable at the option of the holder after one year for cash or at the option of the company for the company 2019s common stock at a ratio of 1:1 .', 'the holder is entitled to a distribution equal to the dividend rate of the company 2019s common stock .', 'the company is restricted from disposing of these assets , other than through a tax free transaction , until january 2017. .'] | -0.02387 | KIM/2010/page_94.pdf-1 | ['kimco realty corporation and subsidiaries notes to consolidated financial statements , continued the units consisted of ( i ) approximately 81.8 million preferred a units par value $ 1.00 per unit , which pay the holder a return of 7.0% ( 7.0 % ) per annum on the preferred a par value and are redeemable for cash by the holder at any time after one year or callable by the company any time after six months and contain a promote feature based upon an increase in net operating income of the properties capped at a 10.0% ( 10.0 % ) increase , ( ii ) 2000 class a preferred units , par value $ 10000 per unit , which pay the holder a return equal to libor plus 2.0% ( 2.0 % ) per annum on the class a preferred par value and are redeemable for cash by the holder at any time after november 30 , 2010 , ( iii ) 2627 class b-1 preferred units , par value $ 10000 per unit , which pay the holder a return equal to 7.0% ( 7.0 % ) per annum on the class b-1 preferred par value and are redeemable by the holder at any time after november 30 , 2010 , for cash or at the company 2019s option , shares of the company 2019s common stock , equal to the cash redemption amount , as defined , ( iv ) 5673 class b-2 preferred units , par value $ 10000 per unit , which pay the holder a return equal to 7.0% ( 7.0 % ) per annum on the class b-2 preferred par value and are redeemable for cash by the holder at any time after november 30 , 2010 , and ( v ) 640001 class c downreit units , valued at an issuance price of $ 30.52 per unit which pay the holder a return at a rate equal to the company 2019s common stock dividend and are redeemable by the holder at any time after november 30 , 2010 , for cash or at the company 2019s option , shares of the company 2019s common stock equal to the class c cash amount , as defined .', 'the following units have been redeemed as of december 31 , 2010 : redeemed par value redeemed ( in millions ) redemption type .'] | ['noncontrolling interest relating to the remaining units was $ 110.4 million and $ 113.1 million as of december 31 , 2010 and 2009 , respectively .', 'during 2006 , the company acquired two shopping center properties located in bay shore and centereach , ny .', 'included in noncontrolling interests was approximately $ 41.6 million , including a discount of $ 0.3 million and a fair market value adjustment of $ 3.8 million , in redeemable units ( the 201credeemable units 201d ) , issued by the company in connection with these transactions .', 'the prop- erties were acquired through the issuance of $ 24.2 million of redeemable units , which are redeemable at the option of the holder ; approximately $ 14.0 million of fixed rate redeemable units and the assumption of approximately $ 23.4 million of non-recourse debt .', 'the redeemable units consist of ( i ) 13963 class a units , par value $ 1000 per unit , which pay the holder a return of 5% ( 5 % ) per annum of the class a par value and are redeemable for cash by the holder at any time after april 3 , 2011 , or callable by the company any time after april 3 , 2016 , and ( ii ) 647758 class b units , valued at an issuance price of $ 37.24 per unit , which pay the holder a return at a rate equal to the company 2019s common stock dividend and are redeemable by the holder at any time after april 3 , 2007 , for cash or at the option of the company for common stock at a ratio of 1:1 , or callable by the company any time after april 3 , 2026 .', 'the company is restricted from disposing of these assets , other than through a tax free transaction , until april 2016 and april 2026 for the centereach , ny , and bay shore , ny , assets , respectively .', 'during 2007 , 30000 units , or $ 1.1 million par value , of theclass bunits were redeemed by the holder in cash at the option of the company .', 'noncontrolling interest relating to the units was $ 40.4 million and $ 40.3 million as of december 31 , 2010 and 2009 , respectively .', 'noncontrolling interests also includes 138015 convertible units issued during 2006 , by the company , which were valued at approxi- mately $ 5.3 million , including a fair market value adjustment of $ 0.3 million , related to an interest acquired in an office building located in albany , ny .', 'these units are redeemable at the option of the holder after one year for cash or at the option of the company for the company 2019s common stock at a ratio of 1:1 .', 'the holder is entitled to a distribution equal to the dividend rate of the company 2019s common stock .', 'the company is restricted from disposing of these assets , other than through a tax free transaction , until january 2017. .'] | ----------------------------------------
type units redeemed par value redeemed ( in millions ) redemption type
preferred a units 2200000 $ 2.2 cash
class a preferred units 2000 $ 20.0 cash
class b-1 preferred units 2438 $ 24.4 cash
class b-2 preferred units 5576 $ 55.8 cash/charitable contribution
class c downreit units 61804 $ 1.9 cash
---------------------------------------- | subtract(110.4, 113.1), divide(#0, 113.1) | -0.02387 |
what is the nonoperating income ( expense ) less net income ( loss ) attributable to nci as adjusted as a percentage of nonoperating income ( expense ) on a gaap basis in 2013? | Background: ['nonoperating income ( expense ) .', 'blackrock also uses operating margin , as adjusted , to monitor corporate performance and efficiency and as a benchmark to compare its performance with other companies .', 'management uses both gaap and non-gaap financial measures in evaluating blackrock 2019s financial performance .', 'the non-gaap measure by itself may pose limitations because it does not include all of blackrock 2019s revenues and expenses .', 'operating income used for measuring operating margin , as adjusted , is equal to operating income , as adjusted , excluding the impact of closed-end fund launch costs and related commissions .', 'management believes the exclusion of such costs and related commissions is useful because these costs can fluctuate considerably and revenues associated with the expenditure of these costs will not fully impact blackrock 2019s results until future periods .', 'revenue used for operating margin , as adjusted , excludes distribution and servicing costs paid to related parties and other third parties .', 'management believes the exclusion of such costs is useful because it creates consistency in the treatment for certain contracts for similar services , which due to the terms of the contracts , are accounted for under gaap on a net basis within investment advisory , administration fees and securities lending revenue .', 'amortization of deferred sales commissions is excluded from revenue used for operating margin measurement , as adjusted , because such costs , over time , substantially offset distribution fee revenue the company earns .', 'for each of these items , blackrock excludes from revenue used for operating margin , as adjusted , the costs related to each of these items as a proxy for such offsetting revenues .', '( b ) nonoperating income ( expense ) , less net income ( loss ) attributable to noncontrolling interests , as adjusted , is presented below .', 'the compensation expense offset is recorded in operating income .', 'this compensation expense has been included in nonoperating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted , to offset returns on investments set aside for these plans , which are reported in nonoperating income ( expense ) , gaap basis .', 'management believes nonoperating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted , provides comparability of information among reporting periods and is an effective measure for reviewing blackrock 2019s nonoperating contribution to results .', 'as compensation expense associated with ( appreciation ) depreciation on investments related to certain deferred compensation plans , which is included in operating income , substantially offsets the gain ( loss ) on the investments set aside for these plans , management believes nonoperating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted , provides a useful measure , for both management and investors , of blackrock 2019s nonoperating results that impact book value .', 'during 2013 , the noncash , nonoperating pre-tax gain of $ 80 million related to the contributed pennymac investment has been excluded from nonoperating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted due to its nonrecurring nature and because the more than offsetting associated charitable contribution expense of $ 124 million is reported in operating income .', '( in millions ) 2013 2012 2011 nonoperating income ( expense ) , gaap basis $ 116 $ ( 54 ) $ ( 114 ) less : net income ( loss ) attributable to nci 19 ( 18 ) 2 .']
Data Table:
****************************************
( in millions ), 2013, 2012, 2011
nonoperating income ( expense ) gaap basis, $ 116, $ -54 ( 54 ), $ -114 ( 114 )
less : net income ( loss ) attributable to nci, 19, -18 ( 18 ), 2
nonoperating income ( expense ), 97, -36 ( 36 ), -116 ( 116 )
gain related to charitable contribution, -80 ( 80 ), 2014, 2014
compensation expense related to ( appreciation ) depreciation on deferred compensation plans, -10 ( 10 ), -6 ( 6 ), 3
nonoperating income ( expense ) less net income ( loss ) attributable to nci as adjusted, $ 7, $ -42 ( 42 ), $ -113 ( 113 )
****************************************
Post-table: ['gain related to charitable contribution ( 80 ) 2014 2014 compensation expense related to ( appreciation ) depreciation on deferred compensation plans ( 10 ) ( 6 ) 3 nonoperating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted $ 7 $ ( 42 ) $ ( 113 ) ( c ) net income attributable to blackrock , as adjusted : management believes net income attributable to blackrock , inc. , as adjusted , and diluted earnings per common share , as adjusted , are useful measures of blackrock 2019s profitability and financial performance .', 'net income attributable to blackrock , inc. , as adjusted , equals net income attributable to blackrock , inc. , gaap basis , adjusted for significant nonrecurring items , charges that ultimately will not impact blackrock 2019s book value or certain tax items that do not impact cash flow .', 'see note ( a ) operating income , as adjusted , and operating margin , as adjusted , for information on the pnc ltip funding obligation , merrill lynch compensation contribution , charitable contribution , u.k .', 'lease exit costs , contribution to stifs and restructuring charges .', 'the 2013 results included a tax benefit of approximately $ 48 million recognized in connection with the charitable contribution .', 'the tax benefit has been excluded from net income attributable to blackrock , inc. , as adjusted due to the nonrecurring nature of the charitable contribution .', 'during 2013 , income tax changes included adjustments related to the revaluation of certain deferred income tax liabilities , including the effect of legislation enacted in the united kingdom and domestic state and local income tax changes .', 'during 2012 , income tax changes included adjustments related to the revaluation of certain deferred income tax liabilities , including the effect of legislation enacted in the united kingdom and the state and local income tax effect resulting from changes in the company 2019s organizational structure .', 'during 2011 , income tax changes included adjustments related to the revaluation of certain deferred income tax liabilities due to a state tax election and enacted u.k. , japan , u.s .', 'state and local tax legislation .', 'the resulting decrease in income taxes has been excluded from net income attributable to blackrock , inc. , as adjusted , as these items will not have a cash flow impact and to ensure comparability among periods presented. .'] | 0.06034 | BLK/2013/page_57.pdf-2 | ['nonoperating income ( expense ) .', 'blackrock also uses operating margin , as adjusted , to monitor corporate performance and efficiency and as a benchmark to compare its performance with other companies .', 'management uses both gaap and non-gaap financial measures in evaluating blackrock 2019s financial performance .', 'the non-gaap measure by itself may pose limitations because it does not include all of blackrock 2019s revenues and expenses .', 'operating income used for measuring operating margin , as adjusted , is equal to operating income , as adjusted , excluding the impact of closed-end fund launch costs and related commissions .', 'management believes the exclusion of such costs and related commissions is useful because these costs can fluctuate considerably and revenues associated with the expenditure of these costs will not fully impact blackrock 2019s results until future periods .', 'revenue used for operating margin , as adjusted , excludes distribution and servicing costs paid to related parties and other third parties .', 'management believes the exclusion of such costs is useful because it creates consistency in the treatment for certain contracts for similar services , which due to the terms of the contracts , are accounted for under gaap on a net basis within investment advisory , administration fees and securities lending revenue .', 'amortization of deferred sales commissions is excluded from revenue used for operating margin measurement , as adjusted , because such costs , over time , substantially offset distribution fee revenue the company earns .', 'for each of these items , blackrock excludes from revenue used for operating margin , as adjusted , the costs related to each of these items as a proxy for such offsetting revenues .', '( b ) nonoperating income ( expense ) , less net income ( loss ) attributable to noncontrolling interests , as adjusted , is presented below .', 'the compensation expense offset is recorded in operating income .', 'this compensation expense has been included in nonoperating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted , to offset returns on investments set aside for these plans , which are reported in nonoperating income ( expense ) , gaap basis .', 'management believes nonoperating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted , provides comparability of information among reporting periods and is an effective measure for reviewing blackrock 2019s nonoperating contribution to results .', 'as compensation expense associated with ( appreciation ) depreciation on investments related to certain deferred compensation plans , which is included in operating income , substantially offsets the gain ( loss ) on the investments set aside for these plans , management believes nonoperating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted , provides a useful measure , for both management and investors , of blackrock 2019s nonoperating results that impact book value .', 'during 2013 , the noncash , nonoperating pre-tax gain of $ 80 million related to the contributed pennymac investment has been excluded from nonoperating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted due to its nonrecurring nature and because the more than offsetting associated charitable contribution expense of $ 124 million is reported in operating income .', '( in millions ) 2013 2012 2011 nonoperating income ( expense ) , gaap basis $ 116 $ ( 54 ) $ ( 114 ) less : net income ( loss ) attributable to nci 19 ( 18 ) 2 .'] | ['gain related to charitable contribution ( 80 ) 2014 2014 compensation expense related to ( appreciation ) depreciation on deferred compensation plans ( 10 ) ( 6 ) 3 nonoperating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted $ 7 $ ( 42 ) $ ( 113 ) ( c ) net income attributable to blackrock , as adjusted : management believes net income attributable to blackrock , inc. , as adjusted , and diluted earnings per common share , as adjusted , are useful measures of blackrock 2019s profitability and financial performance .', 'net income attributable to blackrock , inc. , as adjusted , equals net income attributable to blackrock , inc. , gaap basis , adjusted for significant nonrecurring items , charges that ultimately will not impact blackrock 2019s book value or certain tax items that do not impact cash flow .', 'see note ( a ) operating income , as adjusted , and operating margin , as adjusted , for information on the pnc ltip funding obligation , merrill lynch compensation contribution , charitable contribution , u.k .', 'lease exit costs , contribution to stifs and restructuring charges .', 'the 2013 results included a tax benefit of approximately $ 48 million recognized in connection with the charitable contribution .', 'the tax benefit has been excluded from net income attributable to blackrock , inc. , as adjusted due to the nonrecurring nature of the charitable contribution .', 'during 2013 , income tax changes included adjustments related to the revaluation of certain deferred income tax liabilities , including the effect of legislation enacted in the united kingdom and domestic state and local income tax changes .', 'during 2012 , income tax changes included adjustments related to the revaluation of certain deferred income tax liabilities , including the effect of legislation enacted in the united kingdom and the state and local income tax effect resulting from changes in the company 2019s organizational structure .', 'during 2011 , income tax changes included adjustments related to the revaluation of certain deferred income tax liabilities due to a state tax election and enacted u.k. , japan , u.s .', 'state and local tax legislation .', 'the resulting decrease in income taxes has been excluded from net income attributable to blackrock , inc. , as adjusted , as these items will not have a cash flow impact and to ensure comparability among periods presented. .'] | ****************************************
( in millions ), 2013, 2012, 2011
nonoperating income ( expense ) gaap basis, $ 116, $ -54 ( 54 ), $ -114 ( 114 )
less : net income ( loss ) attributable to nci, 19, -18 ( 18 ), 2
nonoperating income ( expense ), 97, -36 ( 36 ), -116 ( 116 )
gain related to charitable contribution, -80 ( 80 ), 2014, 2014
compensation expense related to ( appreciation ) depreciation on deferred compensation plans, -10 ( 10 ), -6 ( 6 ), 3
nonoperating income ( expense ) less net income ( loss ) attributable to nci as adjusted, $ 7, $ -42 ( 42 ), $ -113 ( 113 )
**************************************** | divide(7, 116) | 0.06034 |
what was the percent of decline in the expected volatility from 2013 to 2014 | Context: ['republic services , inc .', 'notes to consolidated financial statements 2014 ( continued ) 11 .', 'employee benefit plans stock-based compensation in february 2007 , our board of directors approved the 2007 stock incentive plan ( 2007 plan ) , and in may 2007 our shareholders ratified the 2007 plan .', 'in march 2011 , our board of directors approved the amended and restated 2007 stock incentive plan , and in may 2011 our shareholders ratified the amended and restated 2007 stock incentive plan .', 'in march 2013 , our board of directors approved the republic services , inc .', 'amended and restated 2007 stock incentive plan ( the amended and restated plan ) , and in may 2013 our shareholders ratified the amended and restated plan .', 'we currently have approximately 15.6 million shares of common stock reserved for future grants under the amended and restated plan .', 'options granted under the 2007 plan and the amended and restated plan are non-qualified and are granted at a price equal to the fair market value of our common stock at the date of grant .', 'generally , options granted have a term of seven to ten years from the date of grant , and vest in increments of 25% ( 25 % ) per year over a period of four years beginning on the first anniversary date of the grant .', 'options granted to non-employee directors have a term of ten years and are fully vested at the grant date .', 'in december 2008 , the board of directors amended and restated the republic services , inc .', '2006 incentive stock plan ( formerly known as the allied waste industries , inc .', '2006 incentive stock plan ) ( the 2006 plan ) .', 'allied 2019s shareholders approved the 2006 plan in may 2006 .', 'the 2006 plan was amended and restated in december 2008 to reflect republic as the new sponsor of the plan , to reflect that any references to shares of common stock are to shares of common stock of republic , and to adjust outstanding awards and the number of shares available under the plan to reflect the allied acquisition .', 'the 2006 plan , as amended and restated , provided for the grant of non- qualified stock options , incentive stock options , shares of restricted stock , shares of phantom stock , stock bonuses , restricted stock units , stock appreciation rights , performance awards , dividend equivalents , cash awards , or other stock-based awards .', 'awards granted under the 2006 plan prior to december 5 , 2008 became fully vested and nonforfeitable upon the closing of the allied acquisition .', 'no further awards will be made under the 2006 stock options we use a lattice binomial option-pricing model to value our stock option grants .', 'we recognize compensation expense on a straight-line basis over the requisite service period for each separately vesting portion of the award , or to the employee 2019s retirement eligible date , if earlier .', 'expected volatility is based on the weighted average of the most recent one year volatility and a historical rolling average volatility of our stock over the expected life of the option .', 'the risk-free interest rate is based on federal reserve rates in effect for bonds with maturity dates equal to the expected term of the option .', 'we use historical data to estimate future option exercises , forfeitures ( at 3.0% ( 3.0 % ) for 2014 and 2013 ) and expected life of the options .', 'when appropriate , separate groups of employees that have similar historical exercise behavior are considered separately for valuation purposes .', 'we did not grant stock options during the year ended december 31 , 2015 .', 'the weighted-average estimated fair values of stock options granted during the years ended december 31 , 2014 and 2013 were $ 5.74 and $ 5.27 per option , respectively , which were calculated using the following weighted-average assumptions: .']
----
Table:
========================================
2014 2013
expected volatility 27.5% ( 27.5 % ) 28.9% ( 28.9 % )
risk-free interest rate 1.4% ( 1.4 % ) 0.7% ( 0.7 % )
dividend yield 3.2% ( 3.2 % ) 3.2% ( 3.2 % )
expected life ( in years ) 4.6 4.5
contractual life ( in years ) 7.0 7.0
========================================
----
Additional Information: ['.'] | -0.04844 | RSG/2015/page_127.pdf-1 | ['republic services , inc .', 'notes to consolidated financial statements 2014 ( continued ) 11 .', 'employee benefit plans stock-based compensation in february 2007 , our board of directors approved the 2007 stock incentive plan ( 2007 plan ) , and in may 2007 our shareholders ratified the 2007 plan .', 'in march 2011 , our board of directors approved the amended and restated 2007 stock incentive plan , and in may 2011 our shareholders ratified the amended and restated 2007 stock incentive plan .', 'in march 2013 , our board of directors approved the republic services , inc .', 'amended and restated 2007 stock incentive plan ( the amended and restated plan ) , and in may 2013 our shareholders ratified the amended and restated plan .', 'we currently have approximately 15.6 million shares of common stock reserved for future grants under the amended and restated plan .', 'options granted under the 2007 plan and the amended and restated plan are non-qualified and are granted at a price equal to the fair market value of our common stock at the date of grant .', 'generally , options granted have a term of seven to ten years from the date of grant , and vest in increments of 25% ( 25 % ) per year over a period of four years beginning on the first anniversary date of the grant .', 'options granted to non-employee directors have a term of ten years and are fully vested at the grant date .', 'in december 2008 , the board of directors amended and restated the republic services , inc .', '2006 incentive stock plan ( formerly known as the allied waste industries , inc .', '2006 incentive stock plan ) ( the 2006 plan ) .', 'allied 2019s shareholders approved the 2006 plan in may 2006 .', 'the 2006 plan was amended and restated in december 2008 to reflect republic as the new sponsor of the plan , to reflect that any references to shares of common stock are to shares of common stock of republic , and to adjust outstanding awards and the number of shares available under the plan to reflect the allied acquisition .', 'the 2006 plan , as amended and restated , provided for the grant of non- qualified stock options , incentive stock options , shares of restricted stock , shares of phantom stock , stock bonuses , restricted stock units , stock appreciation rights , performance awards , dividend equivalents , cash awards , or other stock-based awards .', 'awards granted under the 2006 plan prior to december 5 , 2008 became fully vested and nonforfeitable upon the closing of the allied acquisition .', 'no further awards will be made under the 2006 stock options we use a lattice binomial option-pricing model to value our stock option grants .', 'we recognize compensation expense on a straight-line basis over the requisite service period for each separately vesting portion of the award , or to the employee 2019s retirement eligible date , if earlier .', 'expected volatility is based on the weighted average of the most recent one year volatility and a historical rolling average volatility of our stock over the expected life of the option .', 'the risk-free interest rate is based on federal reserve rates in effect for bonds with maturity dates equal to the expected term of the option .', 'we use historical data to estimate future option exercises , forfeitures ( at 3.0% ( 3.0 % ) for 2014 and 2013 ) and expected life of the options .', 'when appropriate , separate groups of employees that have similar historical exercise behavior are considered separately for valuation purposes .', 'we did not grant stock options during the year ended december 31 , 2015 .', 'the weighted-average estimated fair values of stock options granted during the years ended december 31 , 2014 and 2013 were $ 5.74 and $ 5.27 per option , respectively , which were calculated using the following weighted-average assumptions: .'] | ['.'] | ========================================
2014 2013
expected volatility 27.5% ( 27.5 % ) 28.9% ( 28.9 % )
risk-free interest rate 1.4% ( 1.4 % ) 0.7% ( 0.7 % )
dividend yield 3.2% ( 3.2 % ) 3.2% ( 3.2 % )
expected life ( in years ) 4.6 4.5
contractual life ( in years ) 7.0 7.0
======================================== | subtract(27.5, 28.9), divide(#0, 28.9) | -0.04844 |
what portion of the total future minimum lease payments is due within 12 months? | Background: ['entergy corporation and subsidiaries notes to financial statements sale and leaseback transactions waterford 3 lease obligations in 1989 , in three separate but substantially identical transactions , entergy louisiana sold and leased back undivided interests in waterford 3 for the aggregate sum of $ 353.6 million .', 'the interests represent approximately 9.3% ( 9.3 % ) of waterford 3 .', 'the leases expire in 2017 .', 'under certain circumstances , entergy louisiana may repurchase the leased interests prior to the end of the term of the leases .', 'at the end of the lease terms , entergy louisiana has the option to repurchase the leased interests in waterford 3 at fair market value or to renew the leases for either fair market value or , under certain conditions , a fixed rate .', 'entergy louisiana issued $ 208.2 million of non-interest bearing first mortgage bonds as collateral for the equity portion of certain amounts payable under the leases .', 'upon the occurrence of certain events , entergy louisiana may be obligated to assume the outstanding bonds used to finance the purchase of the interests in the unit and to pay an amount sufficient to withdraw from the lease transaction .', 'such events include lease events of default , events of loss , deemed loss events , or certain adverse 201cfinancial events . 201d 201cfinancial events 201d include , among other things , failure by entergy louisiana , following the expiration of any applicable grace or cure period , to maintain ( i ) total equity capital ( including preferred membership interests ) at least equal to 30% ( 30 % ) of adjusted capitalization , or ( ii ) a fixed charge coverage ratio of at least 1.50 computed on a rolling 12 month basis .', 'as of december 31 , 2011 , entergy louisiana was in compliance with these provisions .', 'as of december 31 , 2011 , entergy louisiana had future minimum lease payments ( reflecting an overall implicit rate of 7.45% ( 7.45 % ) ) in connection with the waterford 3 sale and leaseback transactions , which are recorded as long-term debt , as follows : amount ( in thousands ) .']
####
Table:
****************************************
, amount ( in thousands )
2012, $ 39067
2013, 26301
2014, 31036
2015, 28827
2016, 16938
years thereafter, 106335
total, 248504
less : amount representing interest, 60249
present value of net minimum lease payments, $ 188255
****************************************
####
Additional Information: ['grand gulf lease obligations in 1988 , in two separate but substantially identical transactions , system energy sold and leased back undivided ownership interests in grand gulf for the aggregate sum of $ 500 million .', 'the interests represent approximately 11.5% ( 11.5 % ) of grand gulf .', 'the leases expire in 2015 .', 'under certain circumstances , system entergy may repurchase the leased interests prior to the end of the term of the leases .', 'at the end of the lease terms , system energy has the option to repurchase the leased interests in grand gulf at fair market value or to renew the leases for either fair market value or , under certain conditions , a fixed rate .', 'system energy is required to report the sale-leaseback as a financing transaction in its financial statements .', 'for financial reporting purposes , system energy expenses the interest portion of the lease obligation and the plant depreciation .', 'however , operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes .', 'consistent with a recommendation contained in a .'] | 0.15721 | ETR/2011/page_145.pdf-1 | ['entergy corporation and subsidiaries notes to financial statements sale and leaseback transactions waterford 3 lease obligations in 1989 , in three separate but substantially identical transactions , entergy louisiana sold and leased back undivided interests in waterford 3 for the aggregate sum of $ 353.6 million .', 'the interests represent approximately 9.3% ( 9.3 % ) of waterford 3 .', 'the leases expire in 2017 .', 'under certain circumstances , entergy louisiana may repurchase the leased interests prior to the end of the term of the leases .', 'at the end of the lease terms , entergy louisiana has the option to repurchase the leased interests in waterford 3 at fair market value or to renew the leases for either fair market value or , under certain conditions , a fixed rate .', 'entergy louisiana issued $ 208.2 million of non-interest bearing first mortgage bonds as collateral for the equity portion of certain amounts payable under the leases .', 'upon the occurrence of certain events , entergy louisiana may be obligated to assume the outstanding bonds used to finance the purchase of the interests in the unit and to pay an amount sufficient to withdraw from the lease transaction .', 'such events include lease events of default , events of loss , deemed loss events , or certain adverse 201cfinancial events . 201d 201cfinancial events 201d include , among other things , failure by entergy louisiana , following the expiration of any applicable grace or cure period , to maintain ( i ) total equity capital ( including preferred membership interests ) at least equal to 30% ( 30 % ) of adjusted capitalization , or ( ii ) a fixed charge coverage ratio of at least 1.50 computed on a rolling 12 month basis .', 'as of december 31 , 2011 , entergy louisiana was in compliance with these provisions .', 'as of december 31 , 2011 , entergy louisiana had future minimum lease payments ( reflecting an overall implicit rate of 7.45% ( 7.45 % ) ) in connection with the waterford 3 sale and leaseback transactions , which are recorded as long-term debt , as follows : amount ( in thousands ) .'] | ['grand gulf lease obligations in 1988 , in two separate but substantially identical transactions , system energy sold and leased back undivided ownership interests in grand gulf for the aggregate sum of $ 500 million .', 'the interests represent approximately 11.5% ( 11.5 % ) of grand gulf .', 'the leases expire in 2015 .', 'under certain circumstances , system entergy may repurchase the leased interests prior to the end of the term of the leases .', 'at the end of the lease terms , system energy has the option to repurchase the leased interests in grand gulf at fair market value or to renew the leases for either fair market value or , under certain conditions , a fixed rate .', 'system energy is required to report the sale-leaseback as a financing transaction in its financial statements .', 'for financial reporting purposes , system energy expenses the interest portion of the lease obligation and the plant depreciation .', 'however , operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes .', 'consistent with a recommendation contained in a .'] | ****************************************
, amount ( in thousands )
2012, $ 39067
2013, 26301
2014, 31036
2015, 28827
2016, 16938
years thereafter, 106335
total, 248504
less : amount representing interest, 60249
present value of net minimum lease payments, $ 188255
**************************************** | divide(39067, 248504) | 0.15721 |
considering the years 2013-2015 , what is the highest value of interest incurred? | Background: ['business separation costs on 16 september 2015 , the company announced that it intends to separate its materials technologies business via a spin-off .', 'during the fourth quarter , we incurred legal and other advisory fees of $ 7.5 ( $ .03 per share ) .', 'gain on previously held equity interest on 30 december 2014 , we acquired our partner 2019s equity ownership interest in a liquefied atmospheric industrial gases production joint venture in north america for $ 22.6 which increased our ownership from 50% ( 50 % ) to 100% ( 100 % ) .', 'the transaction was accounted for as a business combination , and subsequent to the acquisition , the results are consolidated within our industrial gases 2013 americas segment .', 'the assets acquired , primarily plant and equipment , were recorded at their fair value as of the acquisition date .', 'the acquisition date fair value of the previously held equity interest was determined using a discounted cash flow analysis under the income approach .', 'during the first quarter of 2015 , we recorded a gain of $ 17.9 ( $ 11.2 after-tax , or $ .05 per share ) as a result of revaluing our previously held equity interest to fair value as of the acquisition date .', 'advisory costs during the fourth quarter of 2013 , we incurred legal and other advisory fees of $ 10.1 ( $ 6.4 after-tax , or $ .03 per share ) in connection with our response to the rapid acquisition of a large position in shares of our common stock by pershing square capital management llc and its affiliates .', 'other income ( expense ) , net items recorded to other income ( expense ) , net arise from transactions and events not directly related to our principal income earning activities .', 'the detail of other income ( expense ) , net is presented in note 24 , supplemental information , to the consolidated financial statements .', '2015 vs .', '2014 other income ( expense ) , net of $ 47.3 decreased $ 5.5 .', 'the current year includes a gain of $ 33.6 ( $ 28.3 after-tax , or $ .13 per share ) resulting from the sale of two parcels of land .', 'the gain was partially offset by unfavorable foreign exchange impacts and lower gains on other sales of assets and emissions credits .', 'no other individual items were significant in comparison to the prior year .', '2014 vs .', '2013 other income ( expense ) , net of $ 52.8 decreased $ 17.4 , primarily due to higher gains from the sale of a number of small assets and investments , higher government grants , and a favorable commercial contract settlement in 2013 .', 'otherwise , no individual items were significant in comparison to 2013 .', 'interest expense .']
##
Data Table:
----------------------------------------
• , 2015, 2014, 2013
• interest incurred, $ 152.6, $ 158.1, $ 167.6
• less : capitalized interest, 49.1, 33.0, 25.8
• interest expense, $ 103.5, $ 125.1, $ 141.8
----------------------------------------
##
Post-table: ['2015 vs .', '2014 interest incurred decreased $ 5.5 .', 'the decrease was driven by the impact of a stronger u.s .', 'dollar on the translation of foreign currency interest of $ 12 , partially offset by a higher average debt balance of $ 7 .', 'the change in capitalized interest was driven by a higher carrying value in construction in progress .', '2014 vs .', '2013 interest incurred decreased $ 9.5 .', 'the decrease was primarily due to a lower average interest rate on the debt portfolio which reduced interest by $ 13 , partially offset by a higher average debt balance which increased interest by $ 6 .', 'the change in capitalized interest was driven by a higher carrying value in construction in progress .', 'loss on early retirement of debt in september 2015 , we made a payment of $ 146.6 to redeem 3000000 unidades de fomento ( 201cuf 201d ) series e 6.30% ( 6.30 % ) bonds due 22 january 2030 that had a carrying value of $ 130.0 and resulted in a net loss of $ 16.6 ( $ 14.2 after-tax , or $ .07 per share ) . .'] | 167.6 | APD/2015/page_39.pdf-2 | ['business separation costs on 16 september 2015 , the company announced that it intends to separate its materials technologies business via a spin-off .', 'during the fourth quarter , we incurred legal and other advisory fees of $ 7.5 ( $ .03 per share ) .', 'gain on previously held equity interest on 30 december 2014 , we acquired our partner 2019s equity ownership interest in a liquefied atmospheric industrial gases production joint venture in north america for $ 22.6 which increased our ownership from 50% ( 50 % ) to 100% ( 100 % ) .', 'the transaction was accounted for as a business combination , and subsequent to the acquisition , the results are consolidated within our industrial gases 2013 americas segment .', 'the assets acquired , primarily plant and equipment , were recorded at their fair value as of the acquisition date .', 'the acquisition date fair value of the previously held equity interest was determined using a discounted cash flow analysis under the income approach .', 'during the first quarter of 2015 , we recorded a gain of $ 17.9 ( $ 11.2 after-tax , or $ .05 per share ) as a result of revaluing our previously held equity interest to fair value as of the acquisition date .', 'advisory costs during the fourth quarter of 2013 , we incurred legal and other advisory fees of $ 10.1 ( $ 6.4 after-tax , or $ .03 per share ) in connection with our response to the rapid acquisition of a large position in shares of our common stock by pershing square capital management llc and its affiliates .', 'other income ( expense ) , net items recorded to other income ( expense ) , net arise from transactions and events not directly related to our principal income earning activities .', 'the detail of other income ( expense ) , net is presented in note 24 , supplemental information , to the consolidated financial statements .', '2015 vs .', '2014 other income ( expense ) , net of $ 47.3 decreased $ 5.5 .', 'the current year includes a gain of $ 33.6 ( $ 28.3 after-tax , or $ .13 per share ) resulting from the sale of two parcels of land .', 'the gain was partially offset by unfavorable foreign exchange impacts and lower gains on other sales of assets and emissions credits .', 'no other individual items were significant in comparison to the prior year .', '2014 vs .', '2013 other income ( expense ) , net of $ 52.8 decreased $ 17.4 , primarily due to higher gains from the sale of a number of small assets and investments , higher government grants , and a favorable commercial contract settlement in 2013 .', 'otherwise , no individual items were significant in comparison to 2013 .', 'interest expense .'] | ['2015 vs .', '2014 interest incurred decreased $ 5.5 .', 'the decrease was driven by the impact of a stronger u.s .', 'dollar on the translation of foreign currency interest of $ 12 , partially offset by a higher average debt balance of $ 7 .', 'the change in capitalized interest was driven by a higher carrying value in construction in progress .', '2014 vs .', '2013 interest incurred decreased $ 9.5 .', 'the decrease was primarily due to a lower average interest rate on the debt portfolio which reduced interest by $ 13 , partially offset by a higher average debt balance which increased interest by $ 6 .', 'the change in capitalized interest was driven by a higher carrying value in construction in progress .', 'loss on early retirement of debt in september 2015 , we made a payment of $ 146.6 to redeem 3000000 unidades de fomento ( 201cuf 201d ) series e 6.30% ( 6.30 % ) bonds due 22 january 2030 that had a carrying value of $ 130.0 and resulted in a net loss of $ 16.6 ( $ 14.2 after-tax , or $ .07 per share ) . .'] | ----------------------------------------
• , 2015, 2014, 2013
• interest incurred, $ 152.6, $ 158.1, $ 167.6
• less : capitalized interest, 49.1, 33.0, 25.8
• interest expense, $ 103.5, $ 125.1, $ 141.8
---------------------------------------- | table_max(interest incurred, none) | 167.6 |
what was the difference in net revenues in investing & lending in billions between 2012 and 2011? | Context: ['management 2019s discussion and analysis net revenues in equities were $ 8.26 billion for 2011 , 2% ( 2 % ) higher than 2010 .', 'during 2011 , average volatility levels increased and equity prices in europe and asia declined significantly , particularly during the third quarter .', 'the increase in net revenues reflected higher commissions and fees , primarily due to higher market volumes , particularly during the third quarter of 2011 .', 'in addition , net revenues in securities services increased compared with 2010 , reflecting the impact of higher average customer balances .', 'equities client execution net revenues were lower than 2010 , primarily reflecting significantly lower net revenues in shares .', 'the net gain attributable to the impact of changes in our own credit spreads on borrowings for which the fair value option was elected was $ 596 million ( $ 399 million and $ 197 million related to fixed income , currency and commodities client execution and equities client execution , respectively ) for 2011 , compared with a net gain of $ 198 million ( $ 188 million and $ 10 million related to fixed income , currency and commodities client execution and equities client execution , respectively ) for 2010 .', 'institutional client services operated in an environment generally characterized by increased concerns regarding the weakened state of global economies , including heightened european sovereign debt risk , and its impact on the european banking system and global financial institutions .', 'these conditions also impacted expectations for economic prospects in the united states and were reflected in equity and debt markets more broadly .', 'in addition , the downgrade in credit ratings of the u.s .', 'government and federal agencies and many financial institutions during the second half of 2011 contributed to further uncertainty in the markets .', 'these concerns , as well as other broad market concerns , such as uncertainty over financial regulatory reform , continued to have a negative impact on our net revenues during 2011 .', 'operating expenses were $ 12.84 billion for 2011 , 14% ( 14 % ) lower than 2010 , due to decreased compensation and benefits expenses , primarily resulting from lower net revenues , lower net provisions for litigation and regulatory proceedings ( 2010 included $ 550 million related to a settlement with the sec ) , the impact of the u.k .', 'bank payroll tax during 2010 , as well as an impairment of our nyse dmm rights of $ 305 million during 2010 .', 'these decreases were partially offset by higher brokerage , clearing , exchange and distribution fees , principally reflecting higher transaction volumes in equities .', 'pre-tax earnings were $ 4.44 billion in 2011 , 35% ( 35 % ) lower than 2010 .', 'investing & lending investing & lending includes our investing activities and the origination of loans to provide financing to clients .', 'these investments and loans are typically longer-term in nature .', 'we make investments , directly and indirectly through funds that we manage , in debt securities and loans , public and private equity securities , real estate , consolidated investment entities and power generation facilities .', 'the table below presents the operating results of our investing & lending segment. .']
##
Tabular Data:
----------------------------------------
in millions | year ended december 2012 | year ended december 2011 | year ended december 2010
icbc | $ 408 | $ -517 ( 517 ) | $ 747
equity securities ( excluding icbc ) | 2392 | 1120 | 2692
debt securities and loans | 1850 | 96 | 2597
other | 1241 | 1443 | 1505
total net revenues | 5891 | 2142 | 7541
operating expenses | 2666 | 2673 | 3361
pre-tax earnings/ ( loss ) | $ 3225 | $ -531 ( 531 ) | $ 4180
----------------------------------------
##
Post-table: ['2012 versus 2011 .', 'net revenues in investing & lending were $ 5.89 billion and $ 2.14 billion for 2012 and 2011 , respectively .', 'during 2012 , investing & lending net revenues were positively impacted by tighter credit spreads and an increase in global equity prices .', 'results for 2012 included a gain of $ 408 million from our investment in the ordinary shares of icbc , net gains of $ 2.39 billion from other investments in equities , primarily in private equities , net gains and net interest income of $ 1.85 billion from debt securities and loans , and other net revenues of $ 1.24 billion , principally related to our consolidated investment entities .', 'if equity markets decline or credit spreads widen , net revenues in investing & lending would likely be negatively impacted .', 'operating expenses were $ 2.67 billion for 2012 , essentially unchanged compared with 2011 .', 'pre-tax earnings were $ 3.23 billion in 2012 , compared with a pre-tax loss of $ 531 million in 2011 .', 'goldman sachs 2012 annual report 55 .'] | 3.75 | GS/2012/page_57.pdf-4 | ['management 2019s discussion and analysis net revenues in equities were $ 8.26 billion for 2011 , 2% ( 2 % ) higher than 2010 .', 'during 2011 , average volatility levels increased and equity prices in europe and asia declined significantly , particularly during the third quarter .', 'the increase in net revenues reflected higher commissions and fees , primarily due to higher market volumes , particularly during the third quarter of 2011 .', 'in addition , net revenues in securities services increased compared with 2010 , reflecting the impact of higher average customer balances .', 'equities client execution net revenues were lower than 2010 , primarily reflecting significantly lower net revenues in shares .', 'the net gain attributable to the impact of changes in our own credit spreads on borrowings for which the fair value option was elected was $ 596 million ( $ 399 million and $ 197 million related to fixed income , currency and commodities client execution and equities client execution , respectively ) for 2011 , compared with a net gain of $ 198 million ( $ 188 million and $ 10 million related to fixed income , currency and commodities client execution and equities client execution , respectively ) for 2010 .', 'institutional client services operated in an environment generally characterized by increased concerns regarding the weakened state of global economies , including heightened european sovereign debt risk , and its impact on the european banking system and global financial institutions .', 'these conditions also impacted expectations for economic prospects in the united states and were reflected in equity and debt markets more broadly .', 'in addition , the downgrade in credit ratings of the u.s .', 'government and federal agencies and many financial institutions during the second half of 2011 contributed to further uncertainty in the markets .', 'these concerns , as well as other broad market concerns , such as uncertainty over financial regulatory reform , continued to have a negative impact on our net revenues during 2011 .', 'operating expenses were $ 12.84 billion for 2011 , 14% ( 14 % ) lower than 2010 , due to decreased compensation and benefits expenses , primarily resulting from lower net revenues , lower net provisions for litigation and regulatory proceedings ( 2010 included $ 550 million related to a settlement with the sec ) , the impact of the u.k .', 'bank payroll tax during 2010 , as well as an impairment of our nyse dmm rights of $ 305 million during 2010 .', 'these decreases were partially offset by higher brokerage , clearing , exchange and distribution fees , principally reflecting higher transaction volumes in equities .', 'pre-tax earnings were $ 4.44 billion in 2011 , 35% ( 35 % ) lower than 2010 .', 'investing & lending investing & lending includes our investing activities and the origination of loans to provide financing to clients .', 'these investments and loans are typically longer-term in nature .', 'we make investments , directly and indirectly through funds that we manage , in debt securities and loans , public and private equity securities , real estate , consolidated investment entities and power generation facilities .', 'the table below presents the operating results of our investing & lending segment. .'] | ['2012 versus 2011 .', 'net revenues in investing & lending were $ 5.89 billion and $ 2.14 billion for 2012 and 2011 , respectively .', 'during 2012 , investing & lending net revenues were positively impacted by tighter credit spreads and an increase in global equity prices .', 'results for 2012 included a gain of $ 408 million from our investment in the ordinary shares of icbc , net gains of $ 2.39 billion from other investments in equities , primarily in private equities , net gains and net interest income of $ 1.85 billion from debt securities and loans , and other net revenues of $ 1.24 billion , principally related to our consolidated investment entities .', 'if equity markets decline or credit spreads widen , net revenues in investing & lending would likely be negatively impacted .', 'operating expenses were $ 2.67 billion for 2012 , essentially unchanged compared with 2011 .', 'pre-tax earnings were $ 3.23 billion in 2012 , compared with a pre-tax loss of $ 531 million in 2011 .', 'goldman sachs 2012 annual report 55 .'] | ----------------------------------------
in millions | year ended december 2012 | year ended december 2011 | year ended december 2010
icbc | $ 408 | $ -517 ( 517 ) | $ 747
equity securities ( excluding icbc ) | 2392 | 1120 | 2692
debt securities and loans | 1850 | 96 | 2597
other | 1241 | 1443 | 1505
total net revenues | 5891 | 2142 | 7541
operating expenses | 2666 | 2673 | 3361
pre-tax earnings/ ( loss ) | $ 3225 | $ -531 ( 531 ) | $ 4180
---------------------------------------- | subtract(5.89, 2.14) | 3.75 |
for 2012 , tax related assets were how much of total current assets and prepaids?\\n\\n | Context: ['american tower corporation and subsidiaries notes to consolidated financial statements loss on retirement of long-term obligations 2014loss on retirement of long-term obligations primarily includes cash paid to retire debt in excess of its carrying value , cash paid to holders of convertible notes in connection with note conversions and non-cash charges related to the write-off of deferred financing fees .', 'loss on retirement of long-term obligations also includes gains from repurchasing or refinancing certain of the company 2019s debt obligations .', 'earnings per common share 2014basic and diluted 2014basic income from continuing operations per common share for the years ended december 31 , 2012 , 2011 and 2010 represents income from continuing operations attributable to american tower corporation divided by the weighted average number of common shares outstanding during the period .', 'diluted income from continuing operations per common share for the years ended december 31 , 2012 , 2011 and 2010 represents income from continuing operations attributable to american tower corporation divided by the weighted average number of common shares outstanding during the period and any dilutive common share equivalents , including unvested restricted stock , shares issuable upon exercise of stock options and warrants as determined under the treasury stock method and upon conversion of the company 2019s convertible notes , as determined under the if-converted method .', 'retirement plan 2014the company has a 401 ( k ) plan covering substantially all employees who meet certain age and employment requirements .', 'the company 2019s matching contribution for the years ended december 31 , 2012 , 2011 and 2010 is 50% ( 50 % ) up to a maximum 6% ( 6 % ) of a participant 2019s contributions .', 'for the years ended december 31 , 2012 , 2011 and 2010 , the company contributed approximately $ 4.4 million , $ 2.9 million and $ 1.9 million to the plan , respectively .', '2 .', 'prepaid and other current assets prepaid and other current assets consist of the following as of december 31 , ( in thousands ) : .']
----------
Data Table:
========================================
Row 1: , 2012, 2011 ( 1 )
Row 2: prepaid income tax, $ 57665, $ 31384
Row 3: prepaid operating ground leases, 56916, 49585
Row 4: value added tax and other consumption tax receivables, 22443, 81276
Row 5: prepaid assets, 19037, 28031
Row 6: other miscellaneous current assets, 66790, 59997
Row 7: balance as of december 31,, $ 222851, $ 250273
========================================
----------
Follow-up: ['( 1 ) december 31 , 2011 balances have been revised to reflect purchase accounting measurement period adjustments. .'] | 0.35947 | AMT/2012/page_111.pdf-1 | ['american tower corporation and subsidiaries notes to consolidated financial statements loss on retirement of long-term obligations 2014loss on retirement of long-term obligations primarily includes cash paid to retire debt in excess of its carrying value , cash paid to holders of convertible notes in connection with note conversions and non-cash charges related to the write-off of deferred financing fees .', 'loss on retirement of long-term obligations also includes gains from repurchasing or refinancing certain of the company 2019s debt obligations .', 'earnings per common share 2014basic and diluted 2014basic income from continuing operations per common share for the years ended december 31 , 2012 , 2011 and 2010 represents income from continuing operations attributable to american tower corporation divided by the weighted average number of common shares outstanding during the period .', 'diluted income from continuing operations per common share for the years ended december 31 , 2012 , 2011 and 2010 represents income from continuing operations attributable to american tower corporation divided by the weighted average number of common shares outstanding during the period and any dilutive common share equivalents , including unvested restricted stock , shares issuable upon exercise of stock options and warrants as determined under the treasury stock method and upon conversion of the company 2019s convertible notes , as determined under the if-converted method .', 'retirement plan 2014the company has a 401 ( k ) plan covering substantially all employees who meet certain age and employment requirements .', 'the company 2019s matching contribution for the years ended december 31 , 2012 , 2011 and 2010 is 50% ( 50 % ) up to a maximum 6% ( 6 % ) of a participant 2019s contributions .', 'for the years ended december 31 , 2012 , 2011 and 2010 , the company contributed approximately $ 4.4 million , $ 2.9 million and $ 1.9 million to the plan , respectively .', '2 .', 'prepaid and other current assets prepaid and other current assets consist of the following as of december 31 , ( in thousands ) : .'] | ['( 1 ) december 31 , 2011 balances have been revised to reflect purchase accounting measurement period adjustments. .'] | ========================================
Row 1: , 2012, 2011 ( 1 )
Row 2: prepaid income tax, $ 57665, $ 31384
Row 3: prepaid operating ground leases, 56916, 49585
Row 4: value added tax and other consumption tax receivables, 22443, 81276
Row 5: prepaid assets, 19037, 28031
Row 6: other miscellaneous current assets, 66790, 59997
Row 7: balance as of december 31,, $ 222851, $ 250273
======================================== | add(57665, 22443), divide(#0, 222851) | 0.35947 |
what i the yearly amortization expense related to developed product technology? | Pre-text: ['for marketing .', 'there are several methods that can be used to determine the estimated fair value of the ipr&d acquired in a business combination .', 'we utilized the 201cincome method , 201d which applies a probability weighting to the estimated future net cash fl ows that are derived from projected sales revenues and estimated costs .', 'these projec- tions are based on factors such as relevant market size , patent protection , historical pricing of similar products , and expected industry trends .', 'the estimated future net cash fl ows are then discounted to the present value using an appropriate discount rate .', 'this analysis is performed for each project independently .', 'in accordance with fin 4 , applicability of fasb statement no .', '2 to business combinations accounted for by the purchase method , these acquired ipr&d intangible assets totaling $ 4.71 billion and $ 340.5 million in 2008 and 2007 , respectively , were expensed immediately subsequent to the acquisition because the products had no alternative future use .', 'the ongoing activities with respect to each of these products in development are not material to our research and development expenses .', 'in addition to the acquisitions of businesses , we also acquired several products in development .', 'the acquired ipr&d related to these products of $ 122.0 million and $ 405.1 million in 2008 and 2007 , respectively , was also writ- ten off by a charge to income immediately upon acquisition because the products had no alternative future use .', 'imclone acquisition on november 24 , 2008 , we acquired all of the outstanding shares of imclone systems inc .', '( imclone ) , a biopharma- ceutical company focused on advancing oncology care , for a total purchase price of approximately $ 6.5 billion , which was fi nanced through borrowings .', 'this strategic combination will offer both targeted therapies and oncolytic agents along with a pipeline spanning all phases of clinical development .', 'the combination also expands our bio- technology capabilities .', 'the acquisition has been accounted for as a business combination under the purchase method of accounting , resulting in goodwill of $ 419.5 million .', 'no portion of this goodwill is expected to be deductible for tax purposes .', 'allocation of purchase price we are currently determining the fair values of a signifi cant portion of these net assets .', 'the purchase price has been preliminarily allocated based on an estimate of the fair value of assets acquired and liabilities assumed as of the date of acquisition .', 'the fi nal determination of these fair values will be completed as soon as possible but no later than one year from the acquisition date .', 'although the fi nal determination may result in asset and liability fair values that are different than the preliminary estimates of these amounts included herein , it is not expected that those differences will be material to our fi nancial results .', 'estimated fair value at november 24 , 2008 .']
------
Data Table:
• cash and short-term investments, $ 982.9
• inventories, 136.2
• developed product technology ( erbitux ) 1, 1057.9
• goodwill, 419.5
• property and equipment, 339.8
• debt assumed, -600.0 ( 600.0 )
• deferred taxes, -315.0 ( 315.0 )
• deferred income, -127.7 ( 127.7 )
• other assets and liabilities 2014 net, -72.1 ( 72.1 )
• acquired in-process research and development, 4685.4
• total purchase price, $ 6506.9
------
Post-table: ['1this intangible asset will be amortized on a straight-line basis through 2023 in the u.s .', 'and 2018 in the rest of the world .', 'all of the estimated fair value of the acquired ipr&d is attributable to oncology-related products in develop- ment , including $ 1.33 billion to line extensions for erbitux .', 'a signifi cant portion ( 81 percent ) of the remaining value of acquired ipr&d is attributable to two compounds in phase iii clinical testing and one compound in phase ii clini- cal testing , all targeted to treat various forms of cancers .', 'the discount rate we used in valuing the acquired ipr&d projects was 13.5 percent , and the charge for acquired ipr&d of $ 4.69 billion recorded in the fourth quarter of 2008 , was not deductible for tax purposes .', 'pro forma financial information the following unaudited pro forma fi nancial information presents the combined results of our operations with .'] | 70.52667 | LLY/2008/page_43.pdf-1 | ['for marketing .', 'there are several methods that can be used to determine the estimated fair value of the ipr&d acquired in a business combination .', 'we utilized the 201cincome method , 201d which applies a probability weighting to the estimated future net cash fl ows that are derived from projected sales revenues and estimated costs .', 'these projec- tions are based on factors such as relevant market size , patent protection , historical pricing of similar products , and expected industry trends .', 'the estimated future net cash fl ows are then discounted to the present value using an appropriate discount rate .', 'this analysis is performed for each project independently .', 'in accordance with fin 4 , applicability of fasb statement no .', '2 to business combinations accounted for by the purchase method , these acquired ipr&d intangible assets totaling $ 4.71 billion and $ 340.5 million in 2008 and 2007 , respectively , were expensed immediately subsequent to the acquisition because the products had no alternative future use .', 'the ongoing activities with respect to each of these products in development are not material to our research and development expenses .', 'in addition to the acquisitions of businesses , we also acquired several products in development .', 'the acquired ipr&d related to these products of $ 122.0 million and $ 405.1 million in 2008 and 2007 , respectively , was also writ- ten off by a charge to income immediately upon acquisition because the products had no alternative future use .', 'imclone acquisition on november 24 , 2008 , we acquired all of the outstanding shares of imclone systems inc .', '( imclone ) , a biopharma- ceutical company focused on advancing oncology care , for a total purchase price of approximately $ 6.5 billion , which was fi nanced through borrowings .', 'this strategic combination will offer both targeted therapies and oncolytic agents along with a pipeline spanning all phases of clinical development .', 'the combination also expands our bio- technology capabilities .', 'the acquisition has been accounted for as a business combination under the purchase method of accounting , resulting in goodwill of $ 419.5 million .', 'no portion of this goodwill is expected to be deductible for tax purposes .', 'allocation of purchase price we are currently determining the fair values of a signifi cant portion of these net assets .', 'the purchase price has been preliminarily allocated based on an estimate of the fair value of assets acquired and liabilities assumed as of the date of acquisition .', 'the fi nal determination of these fair values will be completed as soon as possible but no later than one year from the acquisition date .', 'although the fi nal determination may result in asset and liability fair values that are different than the preliminary estimates of these amounts included herein , it is not expected that those differences will be material to our fi nancial results .', 'estimated fair value at november 24 , 2008 .'] | ['1this intangible asset will be amortized on a straight-line basis through 2023 in the u.s .', 'and 2018 in the rest of the world .', 'all of the estimated fair value of the acquired ipr&d is attributable to oncology-related products in develop- ment , including $ 1.33 billion to line extensions for erbitux .', 'a signifi cant portion ( 81 percent ) of the remaining value of acquired ipr&d is attributable to two compounds in phase iii clinical testing and one compound in phase ii clini- cal testing , all targeted to treat various forms of cancers .', 'the discount rate we used in valuing the acquired ipr&d projects was 13.5 percent , and the charge for acquired ipr&d of $ 4.69 billion recorded in the fourth quarter of 2008 , was not deductible for tax purposes .', 'pro forma financial information the following unaudited pro forma fi nancial information presents the combined results of our operations with .'] | • cash and short-term investments, $ 982.9
• inventories, 136.2
• developed product technology ( erbitux ) 1, 1057.9
• goodwill, 419.5
• property and equipment, 339.8
• debt assumed, -600.0 ( 600.0 )
• deferred taxes, -315.0 ( 315.0 )
• deferred income, -127.7 ( 127.7 )
• other assets and liabilities 2014 net, -72.1 ( 72.1 )
• acquired in-process research and development, 4685.4
• total purchase price, $ 6506.9 | subtract(2023, 2008), divide(1057.9, #0) | 70.52667 |
what portion of the total estimated future contingent acquisition obligation is due in the 12 months? | Context: ['notes to consolidated financial statements 2014 ( continued ) ( amounts in millions , except per share amounts ) guarantees we have certain contingent obligations under guarantees of certain of our subsidiaries ( 201cparent company guarantees 201d ) relating principally to credit facilities , guarantees of certain media payables and operating leases .', 'the amount of such parent company guarantees was $ 255.7 and $ 327.1 as of december 31 , 2008 and 2007 , respectively .', 'in the event of non-payment by the applicable subsidiary of the obligations covered by a guarantee , we would be obligated to pay the amounts covered by that guarantee .', 'as of december 31 , 2008 , there are no material assets pledged as security for such parent company guarantees .', 'contingent acquisition obligations we have structured certain acquisitions with additional contingent purchase price obligations in order to reduce the potential risk associated with negative future performance of the acquired entity .', 'in addition , we have entered into agreements that may require us to purchase additional equity interests in certain consolidated and unconsolidated subsidiaries .', 'the amounts relating to these transactions are based on estimates of the future financial performance of the acquired entity , the timing of the exercise of these rights , changes in foreign currency exchange rates and other factors .', 'we have not recorded a liability for these items since the definitive amounts payable are not determinable or distributable .', 'when the contingent acquisition obligations have been met and consideration is determinable and distributable , we record the fair value of this consideration as an additional cost of the acquired entity .', 'however , certain acquisitions contain deferred payments that are fixed and determinable on the acquisition date .', 'in such cases , we record a liability for the payment and record this consideration as an additional cost of the acquired entity on the acquisition date .', 'if deferred payments and purchases of additional interests after the effective date of purchase are contingent upon the future employment of the former owners then we recognize these payments as compensation expense .', 'compensation expense is determined based on the terms and conditions of the respective acquisition agreements and employment terms of the former owners of the acquired businesses .', 'this future expense will not be allocated to the assets and liabilities acquired and is amortized over the required employment terms of the former owners .', 'the following table details the estimated liability with respect to our contingent acquisition obligations and the estimated amount that would be paid in the event of exercise at the earliest exercise date .', 'we have certain put options that are exercisable at the discretion of the minority owners as of december 31 , 2008 .', 'as such , these estimated acquisition payments of $ 5.5 have been included within the total payments expected to be made in 2009 in the table below and , if not made in 2009 , will continue to carry forward into 2010 or beyond until they are exercised or expire .', 'all payments are contingent upon achieving projected operating performance targets and satisfying other conditions specified in the related agreements and are subject to revisions as the earn-out periods progress .', 'as of december 31 , 2008 , our estimated future contingent acquisition obligations payable in cash are as follows: .']
########
Table:
| 2009 | 2010 | 2011 | 2012 | 2013 | thereafter | total
----------|----------|----------|----------|----------|----------|----------|----------
deferred acquisition payments | $ 67.5 | $ 32.1 | $ 30.1 | $ 4.5 | $ 5.7 | $ 2014 | $ 139.9
put and call options with affiliates1 | 11.8 | 34.3 | 73.6 | 70.8 | 70.2 | 2.2 | 262.9
total contingent acquisition payments | 79.3 | 66.4 | 103.7 | 75.3 | 75.9 | 2.2 | 402.8
less cash compensation expense included above | 2.6 | 1.3 | 0.7 | 0.7 | 0.3 | 2014 | 5.6
total | $ 76.7 | $ 65.1 | $ 103.0 | $ 74.6 | $ 75.6 | $ 2.2 | $ 397.2
########
Follow-up: ['1 we have entered into certain acquisitions that contain both put and call options with similar terms and conditions .', 'in such instances , we have included the related estimated contingent acquisition obligation in the period when the earliest related option is exercisable .', 'as a result of revisions made during 2008 to eitf topic no .', 'd-98 , classification and measurement of redeemable securities ( 201ceitf d-98 201d ) .'] | 0.1931 | IPG/2008/page_93.pdf-1 | ['notes to consolidated financial statements 2014 ( continued ) ( amounts in millions , except per share amounts ) guarantees we have certain contingent obligations under guarantees of certain of our subsidiaries ( 201cparent company guarantees 201d ) relating principally to credit facilities , guarantees of certain media payables and operating leases .', 'the amount of such parent company guarantees was $ 255.7 and $ 327.1 as of december 31 , 2008 and 2007 , respectively .', 'in the event of non-payment by the applicable subsidiary of the obligations covered by a guarantee , we would be obligated to pay the amounts covered by that guarantee .', 'as of december 31 , 2008 , there are no material assets pledged as security for such parent company guarantees .', 'contingent acquisition obligations we have structured certain acquisitions with additional contingent purchase price obligations in order to reduce the potential risk associated with negative future performance of the acquired entity .', 'in addition , we have entered into agreements that may require us to purchase additional equity interests in certain consolidated and unconsolidated subsidiaries .', 'the amounts relating to these transactions are based on estimates of the future financial performance of the acquired entity , the timing of the exercise of these rights , changes in foreign currency exchange rates and other factors .', 'we have not recorded a liability for these items since the definitive amounts payable are not determinable or distributable .', 'when the contingent acquisition obligations have been met and consideration is determinable and distributable , we record the fair value of this consideration as an additional cost of the acquired entity .', 'however , certain acquisitions contain deferred payments that are fixed and determinable on the acquisition date .', 'in such cases , we record a liability for the payment and record this consideration as an additional cost of the acquired entity on the acquisition date .', 'if deferred payments and purchases of additional interests after the effective date of purchase are contingent upon the future employment of the former owners then we recognize these payments as compensation expense .', 'compensation expense is determined based on the terms and conditions of the respective acquisition agreements and employment terms of the former owners of the acquired businesses .', 'this future expense will not be allocated to the assets and liabilities acquired and is amortized over the required employment terms of the former owners .', 'the following table details the estimated liability with respect to our contingent acquisition obligations and the estimated amount that would be paid in the event of exercise at the earliest exercise date .', 'we have certain put options that are exercisable at the discretion of the minority owners as of december 31 , 2008 .', 'as such , these estimated acquisition payments of $ 5.5 have been included within the total payments expected to be made in 2009 in the table below and , if not made in 2009 , will continue to carry forward into 2010 or beyond until they are exercised or expire .', 'all payments are contingent upon achieving projected operating performance targets and satisfying other conditions specified in the related agreements and are subject to revisions as the earn-out periods progress .', 'as of december 31 , 2008 , our estimated future contingent acquisition obligations payable in cash are as follows: .'] | ['1 we have entered into certain acquisitions that contain both put and call options with similar terms and conditions .', 'in such instances , we have included the related estimated contingent acquisition obligation in the period when the earliest related option is exercisable .', 'as a result of revisions made during 2008 to eitf topic no .', 'd-98 , classification and measurement of redeemable securities ( 201ceitf d-98 201d ) .'] | | 2009 | 2010 | 2011 | 2012 | 2013 | thereafter | total
----------|----------|----------|----------|----------|----------|----------|----------
deferred acquisition payments | $ 67.5 | $ 32.1 | $ 30.1 | $ 4.5 | $ 5.7 | $ 2014 | $ 139.9
put and call options with affiliates1 | 11.8 | 34.3 | 73.6 | 70.8 | 70.2 | 2.2 | 262.9
total contingent acquisition payments | 79.3 | 66.4 | 103.7 | 75.3 | 75.9 | 2.2 | 402.8
less cash compensation expense included above | 2.6 | 1.3 | 0.7 | 0.7 | 0.3 | 2014 | 5.6
total | $ 76.7 | $ 65.1 | $ 103.0 | $ 74.6 | $ 75.6 | $ 2.2 | $ 397.2 | divide(76.7, 397.2) | 0.1931 |
what is the net change in the gross liability for unrecognized tax benefits during 2008? | Context: ['summary fin 48 changes during fiscal 2008 , our aggregate changes in our total gross amount of unrecognized tax benefits are summarized as follows: .']
Table:
****************************************
beginning balance as of december 1 2007 | $ 201808
gross increases in unrecognized tax benefits 2013 prior year tax positions | 14009
gross increases in unrecognized tax benefits 2013 current year tax positions | 11350
settlements with taxing authorities | -81213 ( 81213 )
lapse of statute of limitations | -3512 ( 3512 )
foreign exchange gains and losses | -2893 ( 2893 )
ending balance as of november 28 2008 | $ 139549
****************************************
Post-table: ['the gross liability for unrecognized tax benefits at november 28 , 2008 of $ 139.5 million is exclusive of interest and penalties .', 'if the total fin 48 gross liability for unrecognized tax benefits at november 28 , 2008 were recognized in the future , the following amounts , net of an estimated $ 12.9 million benefit related to deducting such payments on future tax returns , would result : $ 57.7 million of unrecognized tax benefits would decrease the effective tax rate and $ 68.9 million would decrease goodwill .', 'as of november 28 , 2008 , the combined amount of accrued interest and penalties related to tax positions taken on our tax returns and included in non-current income taxes payable was approximately $ 15.3 million .', 'we file income tax returns in the u.s .', 'on a federal basis and in many u.s .', 'state and foreign jurisdictions .', 'we are subject to the continual examination of our income tax returns by the irs and other domestic and foreign tax authorities .', 'our major tax jurisdictions are the u.s. , ireland and california .', 'for california , ireland and the u.s. , the earliest fiscal years open for examination are 2001 , 2002 and 2005 , respectively .', 'in august 2008 , a u.s .', 'income tax examination covering our fiscal years 2001 through 2004 was completed .', 'our accrued tax and interest related to these years was $ 100.0 million and was previously reported in long-term income taxes payable .', 'in conjunction with this resolution , we requested and received approval from the irs to repatriate certain foreign earnings in a tax-free manner , which resulted in a reduction of our long-term deferred income tax liability of $ 57.8 million .', 'together , these liabilities on our balance sheet decreased by $ 157.8 million .', 'also in august 2008 , we paid $ 80.0 million in conjunction with the aforementioned resolution , credited additional paid-in-capital for $ 41.3 million due to our use of certain tax attributes related to stock option deductions , including a portion of certain deferred tax assets not recorded in our financial statements pursuant to sfas 123r and made other individually immaterial adjustments to our tax balances totaling $ 15.8 million .', 'a net income statement tax benefit in the third quarter of fiscal 2008 of $ 20.7 million resulted .', 'the accounting treatment related to certain unrecognized tax benefits from acquired companies , including macromedia , will change when sfas 141r becomes effective .', 'sfas 141r will be effective in the first quarter of our fiscal year 2010 .', 'at such time , any changes to the recognition or measurement of these unrecognized tax benefits will be recorded through income tax expense , where currently the accounting treatment would require any adjustment to be recognized through the purchase price as an adjustment to goodwill .', 'the timing of the resolution of income tax examinations is highly uncertain and the amounts ultimately paid , if any , upon resolution of the issues raised by the taxing authorities may differ materially from the amounts accrued for each year .', 'while it is reasonably possible that some issues in the irs and other examinations could be resolved within the next 12 months , based upon the current facts and circumstances , we cannot estimate the timing of such resolution or range of potential changes as it relates to the unrecognized tax benefits that are recorded as part of our financial statements .', 'we do not expect any material settlements in fiscal 2009 but it is inherently uncertain to determine. .'] | -62259.0 | ADBE/2008/page_89.pdf-1 | ['summary fin 48 changes during fiscal 2008 , our aggregate changes in our total gross amount of unrecognized tax benefits are summarized as follows: .'] | ['the gross liability for unrecognized tax benefits at november 28 , 2008 of $ 139.5 million is exclusive of interest and penalties .', 'if the total fin 48 gross liability for unrecognized tax benefits at november 28 , 2008 were recognized in the future , the following amounts , net of an estimated $ 12.9 million benefit related to deducting such payments on future tax returns , would result : $ 57.7 million of unrecognized tax benefits would decrease the effective tax rate and $ 68.9 million would decrease goodwill .', 'as of november 28 , 2008 , the combined amount of accrued interest and penalties related to tax positions taken on our tax returns and included in non-current income taxes payable was approximately $ 15.3 million .', 'we file income tax returns in the u.s .', 'on a federal basis and in many u.s .', 'state and foreign jurisdictions .', 'we are subject to the continual examination of our income tax returns by the irs and other domestic and foreign tax authorities .', 'our major tax jurisdictions are the u.s. , ireland and california .', 'for california , ireland and the u.s. , the earliest fiscal years open for examination are 2001 , 2002 and 2005 , respectively .', 'in august 2008 , a u.s .', 'income tax examination covering our fiscal years 2001 through 2004 was completed .', 'our accrued tax and interest related to these years was $ 100.0 million and was previously reported in long-term income taxes payable .', 'in conjunction with this resolution , we requested and received approval from the irs to repatriate certain foreign earnings in a tax-free manner , which resulted in a reduction of our long-term deferred income tax liability of $ 57.8 million .', 'together , these liabilities on our balance sheet decreased by $ 157.8 million .', 'also in august 2008 , we paid $ 80.0 million in conjunction with the aforementioned resolution , credited additional paid-in-capital for $ 41.3 million due to our use of certain tax attributes related to stock option deductions , including a portion of certain deferred tax assets not recorded in our financial statements pursuant to sfas 123r and made other individually immaterial adjustments to our tax balances totaling $ 15.8 million .', 'a net income statement tax benefit in the third quarter of fiscal 2008 of $ 20.7 million resulted .', 'the accounting treatment related to certain unrecognized tax benefits from acquired companies , including macromedia , will change when sfas 141r becomes effective .', 'sfas 141r will be effective in the first quarter of our fiscal year 2010 .', 'at such time , any changes to the recognition or measurement of these unrecognized tax benefits will be recorded through income tax expense , where currently the accounting treatment would require any adjustment to be recognized through the purchase price as an adjustment to goodwill .', 'the timing of the resolution of income tax examinations is highly uncertain and the amounts ultimately paid , if any , upon resolution of the issues raised by the taxing authorities may differ materially from the amounts accrued for each year .', 'while it is reasonably possible that some issues in the irs and other examinations could be resolved within the next 12 months , based upon the current facts and circumstances , we cannot estimate the timing of such resolution or range of potential changes as it relates to the unrecognized tax benefits that are recorded as part of our financial statements .', 'we do not expect any material settlements in fiscal 2009 but it is inherently uncertain to determine. .'] | ****************************************
beginning balance as of december 1 2007 | $ 201808
gross increases in unrecognized tax benefits 2013 prior year tax positions | 14009
gross increases in unrecognized tax benefits 2013 current year tax positions | 11350
settlements with taxing authorities | -81213 ( 81213 )
lapse of statute of limitations | -3512 ( 3512 )
foreign exchange gains and losses | -2893 ( 2893 )
ending balance as of november 28 2008 | $ 139549
**************************************** | subtract(139549, 201808) | -62259.0 |
what was the average repairs and maintenance incurred from 2011 to 2013 in billions | Background: ['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:
millions | dec . 31 2013 | dec . 312012
----------|----------|----------
accounts payable | $ 803 | $ 825
income and other taxes payable | 491 | 368
accrued wages and vacation | 385 | 376
dividends payable | 356 | 318
accrued casualty costs | 207 | 213
interest payable | 169 | 172
equipment rents payable | 96 | 95
other | 579 | 556
total accounts payable and othercurrent liabilities | $ 3086 | $ 2923
######
Follow-up: ['.'] | 2.2 | UNP/2013/page_73.pdf-1 | ['the analysis of our depreciation studies .', 'changes in the estimated service lives of our assets and their related depreciation rates are implemented prospectively .', 'under group depreciation , the historical cost ( net of salvage ) of depreciable property that is retired or replaced in the ordinary course of business is charged to accumulated depreciation and no gain or loss is recognized .', 'the historical cost of certain track assets is estimated using ( i ) inflation indices published by the bureau of labor statistics and ( ii ) the estimated useful lives of the assets as determined by our depreciation studies .', 'the indices were selected because they closely correlate with the major costs of the properties comprising the applicable track asset classes .', 'because of the number of estimates inherent in the depreciation and retirement processes and because it is impossible to precisely estimate each of these variables until a group of property is completely retired , we continually monitor the estimated service lives of our assets and the accumulated depreciation associated with each asset class to ensure our depreciation rates are appropriate .', 'in addition , we determine if the recorded amount of accumulated depreciation is deficient ( or in excess ) of the amount indicated by our depreciation studies .', 'any deficiency ( or excess ) is amortized as a component of depreciation expense over the remaining service lives of the applicable classes of assets .', 'for retirements of depreciable railroad properties that do not occur in the normal course of business , a gain or loss may be recognized if the retirement meets each of the following three conditions : ( i ) is unusual , ( ii ) is material in amount , and ( iii ) varies significantly from the retirement profile identified through our depreciation studies .', 'a gain or loss is recognized in other income when we sell land or dispose of assets that are not part of our railroad operations .', 'when we purchase an asset , we capitalize all costs necessary to make the asset ready for its intended use .', 'however , many of our assets are self-constructed .', 'a large portion of our capital expenditures is for replacement of existing track assets and other road properties , which is typically performed by our employees , and for track line expansion and other capacity projects .', 'costs that are directly attributable to capital projects ( including overhead costs ) are capitalized .', 'direct costs that are capitalized as part of self- constructed assets include material , labor , and work equipment .', 'indirect costs are capitalized if they clearly relate to the construction of the asset .', 'general and administrative expenditures are expensed as incurred .', 'normal repairs and maintenance are also expensed as incurred , while costs incurred that extend the useful life of an asset , improve the safety of our operations or improve operating efficiency are capitalized .', 'these costs are allocated using appropriate statistical bases .', 'total expense for repairs and maintenance incurred was $ 2.3 billion for 2013 , $ 2.1 billion for 2012 , and $ 2.2 billion for 2011 .', 'assets held under capital leases are recorded at the lower of the net present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease .', 'amortization expense is computed using the straight-line method over the shorter of the estimated useful lives of the assets or the period of the related lease .', '12 .', 'accounts payable and other current liabilities dec .', '31 , dec .', '31 , millions 2013 2012 .'] | ['.'] | millions | dec . 31 2013 | dec . 312012
----------|----------|----------
accounts payable | $ 803 | $ 825
income and other taxes payable | 491 | 368
accrued wages and vacation | 385 | 376
dividends payable | 356 | 318
accrued casualty costs | 207 | 213
interest payable | 169 | 172
equipment rents payable | 96 | 95
other | 579 | 556
total accounts payable and othercurrent liabilities | $ 3086 | $ 2923 | add(2.3, 2.1), add(#0, 2.2), divide(#1, const_3) | 2.2 |
what percent of storage facilities are liquid terminals | Pre-text: ['( c ) effective january 1 , 2019 , these assets were transferred from the products pipelines business segment to the natural gas pipelines business segment .', '( d ) effective january 1 , 2019 , a small number of terminals were transferred between the products pipelines and terminals business segments .', 'competition our products pipelines 2019 pipeline operations compete against proprietary pipelines owned and operated by major oil companies , other independent products pipelines , trucking and marine transportation firms ( for short-haul movements of products ) and railcars .', 'our products pipelines 2019 terminal operations compete with proprietary terminals owned and operated by major oil companies and other independent terminal operators , and our transmix operations compete with refineries owned by major oil companies and independent transmix facilities .', 'terminals our terminals business segment includes the operations of our refined petroleum product , crude oil , chemical , ethanol and other liquid terminal facilities ( other than those included in the products pipelines business segment ) and all of our petroleum coke , metal and ores facilities .', 'our terminals are located throughout the u.s .', 'and in portions of canada .', 'we believe the location of our facilities and our ability to provide flexibility to customers help attract new and retain existing customers at our terminals and provide expansion opportunities .', 'we often classify our terminal operations based on the handling of either liquids or dry-bulk material products .', 'in addition , terminals 2019 marine operations include jones act-qualified product tankers that provide marine transportation of crude oil , condensate and refined petroleum products between u.s .', 'ports .', 'the following summarizes our terminals business segment assets , as of december 31 , 2018 : number capacity ( mmbbl ) .']
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Table:
****************************************
number capacity ( mmbbl )
liquids terminals ( a ) 52 89.6
bulk terminals 34 2014
jones act tankers 16 5.3
****************************************
----
Additional Information: ['_______ ( a ) effective january 1 , 2019 , a small number of terminals were transferred between the terminals and products pipelines business segments .', 'competition we are one of the largest independent operators of liquids terminals in north america , based on barrels of liquids terminaling capacity .', 'our liquids terminals compete with other publicly or privately held independent liquids terminals , and terminals owned by oil , chemical , pipeline , and refining companies .', 'our bulk terminals compete with numerous independent terminal operators , terminals owned by producers and distributors of bulk commodities , stevedoring companies and other industrial companies opting not to outsource terminaling services .', 'in some locations , competitors are smaller , independent operators with lower cost structures .', 'our jones act-qualified product tankers compete with other jones act qualified vessel fleets .', 'our co2 business segment produces , transports , and markets co2 for use in enhanced oil recovery projects as a flooding medium for recovering crude oil from mature oil fields .', 'our co2 pipelines and related assets allow us to market a complete package of co2 supply and transportation services to our customers .', 'we also hold ownership interests in several oil-producing fields and own a crude oil pipeline , all located in the permian basin region of west texas. .'] | 0.5098 | KMI/2018/page_14.pdf-2 | ['( c ) effective january 1 , 2019 , these assets were transferred from the products pipelines business segment to the natural gas pipelines business segment .', '( d ) effective january 1 , 2019 , a small number of terminals were transferred between the products pipelines and terminals business segments .', 'competition our products pipelines 2019 pipeline operations compete against proprietary pipelines owned and operated by major oil companies , other independent products pipelines , trucking and marine transportation firms ( for short-haul movements of products ) and railcars .', 'our products pipelines 2019 terminal operations compete with proprietary terminals owned and operated by major oil companies and other independent terminal operators , and our transmix operations compete with refineries owned by major oil companies and independent transmix facilities .', 'terminals our terminals business segment includes the operations of our refined petroleum product , crude oil , chemical , ethanol and other liquid terminal facilities ( other than those included in the products pipelines business segment ) and all of our petroleum coke , metal and ores facilities .', 'our terminals are located throughout the u.s .', 'and in portions of canada .', 'we believe the location of our facilities and our ability to provide flexibility to customers help attract new and retain existing customers at our terminals and provide expansion opportunities .', 'we often classify our terminal operations based on the handling of either liquids or dry-bulk material products .', 'in addition , terminals 2019 marine operations include jones act-qualified product tankers that provide marine transportation of crude oil , condensate and refined petroleum products between u.s .', 'ports .', 'the following summarizes our terminals business segment assets , as of december 31 , 2018 : number capacity ( mmbbl ) .'] | ['_______ ( a ) effective january 1 , 2019 , a small number of terminals were transferred between the terminals and products pipelines business segments .', 'competition we are one of the largest independent operators of liquids terminals in north america , based on barrels of liquids terminaling capacity .', 'our liquids terminals compete with other publicly or privately held independent liquids terminals , and terminals owned by oil , chemical , pipeline , and refining companies .', 'our bulk terminals compete with numerous independent terminal operators , terminals owned by producers and distributors of bulk commodities , stevedoring companies and other industrial companies opting not to outsource terminaling services .', 'in some locations , competitors are smaller , independent operators with lower cost structures .', 'our jones act-qualified product tankers compete with other jones act qualified vessel fleets .', 'our co2 business segment produces , transports , and markets co2 for use in enhanced oil recovery projects as a flooding medium for recovering crude oil from mature oil fields .', 'our co2 pipelines and related assets allow us to market a complete package of co2 supply and transportation services to our customers .', 'we also hold ownership interests in several oil-producing fields and own a crude oil pipeline , all located in the permian basin region of west texas. .'] | ****************************************
number capacity ( mmbbl )
liquids terminals ( a ) 52 89.6
bulk terminals 34 2014
jones act tankers 16 5.3
**************************************** | add(52, 34), add(#0, 16), divide(52, #1) | 0.5098 |
without the us , what would the total net revenue be for 2017? | Context: ['the aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2017 , 2016 , and 2015 on december 8 , 2017 , the board of directors declared a quarterly common stock dividend of $ 0.13 per share payable on february 15 , 2018 to shareholders of record at the close of business on february 1 , 2018 .', 'stock repurchase program 2014 no shares were repurchased in 2017 .', 'the cumulative repurchases from the commencement of the program in july 2010 through december 31 , 2017 totaled 154.3 million shares for a total cost of $ 1.9 billion , at an average price per share of $ 12.12 ( including a nominal amount of commissions ) .', 'as of december 31 , 2017 , $ 246 million remained available for repurchase under the program .', 'the common stock repurchased has been classified as treasury stock and accounted for using the cost method .', 'a total of 155924785 and 156878891 shares were held as treasury stock at december 31 , 2017 and 2016 , respectively .', "restricted stock units under the company's employee benefit plans are issued from treasury stock .", 'the company has not retired any common stock repurchased since it began the program in july 2010 .', '15 .', "segments and geographic information the segment reporting structure uses the company's organizational structure as its foundation to reflect how the company manages the businesses internally and is organized by geographic regions which provides a socio- political-economic understanding of our business .", 'during the third quarter of 2017 , the europe and asia sbus were merged in order to leverage scale and are now reported as part of the eurasia sbu .', 'the management reporting structure is organized by five sbus led by our president and chief executive officer : us , andes , brazil , mcac and eurasia sbus .', 'the company determined that it has five operating and five reportable segments corresponding to its sbus .', 'all prior period results have been retrospectively revised to reflect the new segment reporting structure .', 'in february 2018 , we announced a reorganization as a part of our ongoing strategy to simplify our portfolio , optimize our cost structure , and reduce our carbon intensity .', 'the company is currently evaluating the impact this reorganization will have on our segment reporting structure .', 'corporate and other 2014 corporate overhead costs which are not directly associated with the operations of our five reportable segments are included in "corporate and other." also included are certain intercompany charges such as self-insurance premiums which are fully eliminated in consolidation .', 'the company uses adjusted ptc as its primary segment performance measure .', 'adjusted ptc , a non-gaap measure , is defined by the company as pre-tax income from continuing operations attributable to the aes corporation excluding gains or losses of the consolidated entity due to ( a ) unrealized gains or losses related to derivative transactions ; ( b ) unrealized foreign currency gains or losses ; ( c ) gains , losses and associated benefits and costs due to dispositions and acquisitions of business interests , including early plant closures ; ( d ) losses due to impairments ; ( e ) gains , losses and costs due to the early retirement of debt ; and ( f ) costs directly associated with a major restructuring program , including , but not limited to , workforce reduction efforts , relocations , and office consolidation .', 'adjusted ptc also includes net equity in earnings of affiliates on an after-tax basis adjusted for the same gains or losses excluded from consolidated entities .', "the company has concluded adjusted ptc better reflects the underlying business performance of the company and is the most relevant measure considered in the company's internal evaluation of the financial performance of its segments .", "additionally , given its large number of businesses and complexity , the company concluded that adjusted ptc is a more transparent measure that better assists investors in determining which businesses have the greatest impact on the company's results .", 'revenue and adjusted ptc are presented before inter-segment eliminations , which includes the effect of intercompany transactions with other segments except for interest , charges for certain management fees , and the write-off of intercompany balances , as applicable .', 'all intra-segment activity has been eliminated within the segment .', 'inter-segment activity has been eliminated within the total consolidated results .', 'the following tables present financial information by segment for the periods indicated ( in millions ) : .']
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Data Table:
----------------------------------------
Row 1: year ended december 31,, total revenue 2017, total revenue 2016, total revenue 2015
Row 2: us sbu, $ 3229, $ 3429, $ 3593
Row 3: andes sbu, 2710, 2506, 2489
Row 4: brazil sbu, 542, 450, 962
Row 5: mcac sbu, 2448, 2172, 2353
Row 6: eurasia sbu, 1590, 1670, 1875
Row 7: corporate and other, 35, 77, 31
Row 8: eliminations, -24 ( 24 ), -23 ( 23 ), -43 ( 43 )
Row 9: total revenue, $ 10530, $ 10281, $ 11260
----------------------------------------
--
Post-table: ['.'] | 7301000000.0 | AES/2017/page_157.pdf-3 | ['the aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2017 , 2016 , and 2015 on december 8 , 2017 , the board of directors declared a quarterly common stock dividend of $ 0.13 per share payable on february 15 , 2018 to shareholders of record at the close of business on february 1 , 2018 .', 'stock repurchase program 2014 no shares were repurchased in 2017 .', 'the cumulative repurchases from the commencement of the program in july 2010 through december 31 , 2017 totaled 154.3 million shares for a total cost of $ 1.9 billion , at an average price per share of $ 12.12 ( including a nominal amount of commissions ) .', 'as of december 31 , 2017 , $ 246 million remained available for repurchase under the program .', 'the common stock repurchased has been classified as treasury stock and accounted for using the cost method .', 'a total of 155924785 and 156878891 shares were held as treasury stock at december 31 , 2017 and 2016 , respectively .', "restricted stock units under the company's employee benefit plans are issued from treasury stock .", 'the company has not retired any common stock repurchased since it began the program in july 2010 .', '15 .', "segments and geographic information the segment reporting structure uses the company's organizational structure as its foundation to reflect how the company manages the businesses internally and is organized by geographic regions which provides a socio- political-economic understanding of our business .", 'during the third quarter of 2017 , the europe and asia sbus were merged in order to leverage scale and are now reported as part of the eurasia sbu .', 'the management reporting structure is organized by five sbus led by our president and chief executive officer : us , andes , brazil , mcac and eurasia sbus .', 'the company determined that it has five operating and five reportable segments corresponding to its sbus .', 'all prior period results have been retrospectively revised to reflect the new segment reporting structure .', 'in february 2018 , we announced a reorganization as a part of our ongoing strategy to simplify our portfolio , optimize our cost structure , and reduce our carbon intensity .', 'the company is currently evaluating the impact this reorganization will have on our segment reporting structure .', 'corporate and other 2014 corporate overhead costs which are not directly associated with the operations of our five reportable segments are included in "corporate and other." also included are certain intercompany charges such as self-insurance premiums which are fully eliminated in consolidation .', 'the company uses adjusted ptc as its primary segment performance measure .', 'adjusted ptc , a non-gaap measure , is defined by the company as pre-tax income from continuing operations attributable to the aes corporation excluding gains or losses of the consolidated entity due to ( a ) unrealized gains or losses related to derivative transactions ; ( b ) unrealized foreign currency gains or losses ; ( c ) gains , losses and associated benefits and costs due to dispositions and acquisitions of business interests , including early plant closures ; ( d ) losses due to impairments ; ( e ) gains , losses and costs due to the early retirement of debt ; and ( f ) costs directly associated with a major restructuring program , including , but not limited to , workforce reduction efforts , relocations , and office consolidation .', 'adjusted ptc also includes net equity in earnings of affiliates on an after-tax basis adjusted for the same gains or losses excluded from consolidated entities .', "the company has concluded adjusted ptc better reflects the underlying business performance of the company and is the most relevant measure considered in the company's internal evaluation of the financial performance of its segments .", "additionally , given its large number of businesses and complexity , the company concluded that adjusted ptc is a more transparent measure that better assists investors in determining which businesses have the greatest impact on the company's results .", 'revenue and adjusted ptc are presented before inter-segment eliminations , which includes the effect of intercompany transactions with other segments except for interest , charges for certain management fees , and the write-off of intercompany balances , as applicable .', 'all intra-segment activity has been eliminated within the segment .', 'inter-segment activity has been eliminated within the total consolidated results .', 'the following tables present financial information by segment for the periods indicated ( in millions ) : .'] | ['.'] | ----------------------------------------
Row 1: year ended december 31,, total revenue 2017, total revenue 2016, total revenue 2015
Row 2: us sbu, $ 3229, $ 3429, $ 3593
Row 3: andes sbu, 2710, 2506, 2489
Row 4: brazil sbu, 542, 450, 962
Row 5: mcac sbu, 2448, 2172, 2353
Row 6: eurasia sbu, 1590, 1670, 1875
Row 7: corporate and other, 35, 77, 31
Row 8: eliminations, -24 ( 24 ), -23 ( 23 ), -43 ( 43 )
Row 9: total revenue, $ 10530, $ 10281, $ 11260
---------------------------------------- | subtract(10530, 3229), multiply(#0, const_1000000) | 7301000000.0 |
as of september 30 , 2009 what was the percent of the shares were held in trust that represented the directors 2019 compensation in accordance with the provisions of the plan . | Pre-text: ['the company has a restricted stock plan for non-employee directors which reserves for issuance of 300000 shares of the company 2019s common stock .', 'no restricted shares were issued in 2009 .', 'the company has a directors 2019 deferral plan , which provides a means to defer director compensation , from time to time , on a deferred stock or cash basis .', 'as of september 30 , 2009 , 86643 shares were held in trust , of which 4356 shares represented directors 2019 compensation in 2009 , in accordance with the provisions of the plan .', 'under this plan , which is unfunded , directors have an unsecured contractual commitment from the company .', 'the company also has a deferred compensation plan that allows certain highly-compensated employees , including executive officers , to defer salary , annual incentive awards and certain equity-based compensation .', 'as of september 30 , 2009 , 557235 shares were issuable under this plan .', 'note 16 2014 earnings per share the weighted average common shares used in the computations of basic and diluted earnings per share ( shares in thousands ) for the years ended september 30 were as follows: .']
######
Data Table:
========================================
| 2009 | 2008 | 2007
average common shares outstanding | 240479 | 244323 | 244929
dilutive share equivalents from share-based plans | 6319 | 8358 | 9881
average common and common equivalent sharesoutstanding 2014 assuming dilution | 246798 | 252681 | 254810
========================================
######
Additional Information: ['average common and common equivalent shares outstanding 2014 assuming dilution .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '246798 252681 254810 note 17 2014 segment data the company 2019s organizational structure is based upon its three principal business segments : bd medical ( 201cmedical 201d ) , bd diagnostics ( 201cdiagnostics 201d ) and bd biosciences ( 201cbiosciences 201d ) .', 'the principal product lines in the medical segment include needles , syringes and intravenous catheters for medication delivery ; safety-engineered and auto-disable devices ; prefilled iv flush syringes ; syringes and pen needles for the self-injection of insulin and other drugs used in the treatment of diabetes ; prefillable drug delivery devices provided to pharmaceutical companies and sold to end-users as drug/device combinations ; surgical blades/scalpels and regional anesthesia needles and trays ; critical care monitoring devices ; ophthalmic surgical instruments ; and sharps disposal containers .', 'the principal products and services in the diagnostics segment include integrated systems for specimen collection ; an extensive line of safety-engineered specimen blood collection products and systems ; plated media ; automated blood culturing systems ; molecular testing systems for sexually transmitted diseases and healthcare-associated infections ; microorganism identification and drug susceptibility systems ; liquid-based cytology systems for cervical cancer screening ; and rapid diagnostic assays .', 'the principal product lines in the biosciences segment include fluorescence activated cell sorters and analyzers ; cell imaging systems ; monoclonal antibodies and kits for performing cell analysis ; reagent systems for life sciences research ; tools to aid in drug discovery and growth of tissue and cells ; cell culture media supplements for biopharmaceutical manufacturing ; and diagnostic assays .', 'the company evaluates performance of its business segments based upon operating income .', 'segment operating income represents revenues reduced by product costs and operating expenses .', 'the company hedges against certain forecasted sales of u.s.-produced products sold outside the united states .', 'gains and losses associated with these foreign currency translation hedges are reported in segment revenues based upon their proportionate share of these international sales of u.s.-produced products .', 'becton , dickinson and company notes to consolidated financial statements 2014 ( continued ) .'] | 0.05028 | BDX/2009/page_81.pdf-1 | ['the company has a restricted stock plan for non-employee directors which reserves for issuance of 300000 shares of the company 2019s common stock .', 'no restricted shares were issued in 2009 .', 'the company has a directors 2019 deferral plan , which provides a means to defer director compensation , from time to time , on a deferred stock or cash basis .', 'as of september 30 , 2009 , 86643 shares were held in trust , of which 4356 shares represented directors 2019 compensation in 2009 , in accordance with the provisions of the plan .', 'under this plan , which is unfunded , directors have an unsecured contractual commitment from the company .', 'the company also has a deferred compensation plan that allows certain highly-compensated employees , including executive officers , to defer salary , annual incentive awards and certain equity-based compensation .', 'as of september 30 , 2009 , 557235 shares were issuable under this plan .', 'note 16 2014 earnings per share the weighted average common shares used in the computations of basic and diluted earnings per share ( shares in thousands ) for the years ended september 30 were as follows: .'] | ['average common and common equivalent shares outstanding 2014 assuming dilution .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '246798 252681 254810 note 17 2014 segment data the company 2019s organizational structure is based upon its three principal business segments : bd medical ( 201cmedical 201d ) , bd diagnostics ( 201cdiagnostics 201d ) and bd biosciences ( 201cbiosciences 201d ) .', 'the principal product lines in the medical segment include needles , syringes and intravenous catheters for medication delivery ; safety-engineered and auto-disable devices ; prefilled iv flush syringes ; syringes and pen needles for the self-injection of insulin and other drugs used in the treatment of diabetes ; prefillable drug delivery devices provided to pharmaceutical companies and sold to end-users as drug/device combinations ; surgical blades/scalpels and regional anesthesia needles and trays ; critical care monitoring devices ; ophthalmic surgical instruments ; and sharps disposal containers .', 'the principal products and services in the diagnostics segment include integrated systems for specimen collection ; an extensive line of safety-engineered specimen blood collection products and systems ; plated media ; automated blood culturing systems ; molecular testing systems for sexually transmitted diseases and healthcare-associated infections ; microorganism identification and drug susceptibility systems ; liquid-based cytology systems for cervical cancer screening ; and rapid diagnostic assays .', 'the principal product lines in the biosciences segment include fluorescence activated cell sorters and analyzers ; cell imaging systems ; monoclonal antibodies and kits for performing cell analysis ; reagent systems for life sciences research ; tools to aid in drug discovery and growth of tissue and cells ; cell culture media supplements for biopharmaceutical manufacturing ; and diagnostic assays .', 'the company evaluates performance of its business segments based upon operating income .', 'segment operating income represents revenues reduced by product costs and operating expenses .', 'the company hedges against certain forecasted sales of u.s.-produced products sold outside the united states .', 'gains and losses associated with these foreign currency translation hedges are reported in segment revenues based upon their proportionate share of these international sales of u.s.-produced products .', 'becton , dickinson and company notes to consolidated financial statements 2014 ( continued ) .'] | ========================================
| 2009 | 2008 | 2007
average common shares outstanding | 240479 | 244323 | 244929
dilutive share equivalents from share-based plans | 6319 | 8358 | 9881
average common and common equivalent sharesoutstanding 2014 assuming dilution | 246798 | 252681 | 254810
======================================== | divide(4356, 86643) | 0.05028 |
what is the company's net valuation allowance at the end of 2013? | Pre-text: ['the following table summarizes the changes in the company 2019s valuation allowance: .']
##
Tabular Data:
----------------------------------------
balance at january 1 2011 | $ 23788
----------|----------
increases in current period tax positions | 1525
decreases in current period tax positions | -3734 ( 3734 )
balance at december 31 2011 | $ 21579
increases in current period tax positions | 0
decreases in current period tax positions | -2059 ( 2059 )
balance at december 31 2012 | $ 19520
increases in current period tax positions | 0
decreases in current period tax positions | -5965 ( 5965 )
balance at december 31 2013 | $ 13555
----------------------------------------
##
Additional Information: ['included in 2013 is a discrete tax benefit totaling $ 2979 associated with an entity re-organization within the company 2019s market-based segment that allowed for the utilization of state net operating loss carryforwards and the release of an associated valuation allowance .', 'note 14 : employee benefits pension and other postretirement benefits the company maintains noncontributory defined benefit pension plans covering eligible employees of its regulated utility and shared services operations .', 'benefits under the plans are based on the employee 2019s years of service and compensation .', 'the pension plans have been closed for all employees .', 'the pension plans were closed for most employees hired on or after january 1 , 2006 .', 'union employees hired on or after january 1 , 2001 had their accrued benefit frozen and will be able to receive this benefit as a lump sum upon termination or retirement .', 'union employees hired on or after january 1 , 2001 and non-union employees hired on or after january 1 , 2006 are provided with a 5.25% ( 5.25 % ) of base pay defined contribution plan .', 'the company does not participate in a multiemployer plan .', 'the company 2019s pension funding practice is to contribute at least the greater of the minimum amount required by the employee retirement income security act of 1974 or the normal cost .', 'further , the company will consider additional contributions if needed to avoid 201cat risk 201d status and benefit restrictions under the pension protection act of 2006 .', 'the company may also consider increased contributions , based on other financial requirements and the plans 2019 funded position .', 'pension plan assets are invested in a number of actively managed and indexed investments including equity and bond mutual funds , fixed income securities , guaranteed interest contracts with insurance companies and real estate investment trusts ( 201creits 201d ) .', 'pension expense in excess of the amount contributed to the pension plans is deferred by certain regulated subsidiaries pending future recovery in rates charged for utility services as contributions are made to the plans .', '( see note 6 ) the company also has unfunded noncontributory supplemental non-qualified pension plans that provide additional retirement benefits to certain employees .', 'the company maintains other postretirement benefit plans providing varying levels of medical and life insurance to eligible retirees .', 'the retiree welfare plans are closed for union employees hired on or after january 1 , 2006 .', 'the plans had previously closed for non-union employees hired on or after january 1 , 2002 .', 'the company 2019s policy is to fund other postretirement benefit costs for rate-making purposes .', 'assets of the plans are invested in equity mutual funds , bond mutual funds and fixed income securities. .'] | 10576.0 | AWK/2013/page_123.pdf-1 | ['the following table summarizes the changes in the company 2019s valuation allowance: .'] | ['included in 2013 is a discrete tax benefit totaling $ 2979 associated with an entity re-organization within the company 2019s market-based segment that allowed for the utilization of state net operating loss carryforwards and the release of an associated valuation allowance .', 'note 14 : employee benefits pension and other postretirement benefits the company maintains noncontributory defined benefit pension plans covering eligible employees of its regulated utility and shared services operations .', 'benefits under the plans are based on the employee 2019s years of service and compensation .', 'the pension plans have been closed for all employees .', 'the pension plans were closed for most employees hired on or after january 1 , 2006 .', 'union employees hired on or after january 1 , 2001 had their accrued benefit frozen and will be able to receive this benefit as a lump sum upon termination or retirement .', 'union employees hired on or after january 1 , 2001 and non-union employees hired on or after january 1 , 2006 are provided with a 5.25% ( 5.25 % ) of base pay defined contribution plan .', 'the company does not participate in a multiemployer plan .', 'the company 2019s pension funding practice is to contribute at least the greater of the minimum amount required by the employee retirement income security act of 1974 or the normal cost .', 'further , the company will consider additional contributions if needed to avoid 201cat risk 201d status and benefit restrictions under the pension protection act of 2006 .', 'the company may also consider increased contributions , based on other financial requirements and the plans 2019 funded position .', 'pension plan assets are invested in a number of actively managed and indexed investments including equity and bond mutual funds , fixed income securities , guaranteed interest contracts with insurance companies and real estate investment trusts ( 201creits 201d ) .', 'pension expense in excess of the amount contributed to the pension plans is deferred by certain regulated subsidiaries pending future recovery in rates charged for utility services as contributions are made to the plans .', '( see note 6 ) the company also has unfunded noncontributory supplemental non-qualified pension plans that provide additional retirement benefits to certain employees .', 'the company maintains other postretirement benefit plans providing varying levels of medical and life insurance to eligible retirees .', 'the retiree welfare plans are closed for union employees hired on or after january 1 , 2006 .', 'the plans had previously closed for non-union employees hired on or after january 1 , 2002 .', 'the company 2019s policy is to fund other postretirement benefit costs for rate-making purposes .', 'assets of the plans are invested in equity mutual funds , bond mutual funds and fixed income securities. .'] | ----------------------------------------
balance at january 1 2011 | $ 23788
----------|----------
increases in current period tax positions | 1525
decreases in current period tax positions | -3734 ( 3734 )
balance at december 31 2011 | $ 21579
increases in current period tax positions | 0
decreases in current period tax positions | -2059 ( 2059 )
balance at december 31 2012 | $ 19520
increases in current period tax positions | 0
decreases in current period tax positions | -5965 ( 5965 )
balance at december 31 2013 | $ 13555
---------------------------------------- | subtract(13555, 2979) | 10576.0 |
if you held 1000 shares on may 30 , 2014 , how much would you receive in dividends? | Context: ['overview we finance our operations and capital expenditures through a combination of internally generated cash from operations and from borrowings under our senior secured asset-based revolving credit facility .', 'we believe that our current sources of funds will be sufficient to fund our cash operating requirements for the next year .', 'in addition , we believe that , in spite of the uncertainty of future macroeconomic conditions , we have adequate sources of liquidity and funding available to meet our longer-term needs .', 'however , there are a number of factors that may negatively impact our available sources of funds .', 'the amount of cash generated from operations will be dependent upon factors such as the successful execution of our business plan and general economic conditions .', 'long-term debt activities during the year ended december 31 , 2014 , we had significant debt refinancings .', 'in connection with these refinancings , we recorded a loss on extinguishment of long-term debt of $ 90.7 million in our consolidated statement of operations for the year ended december 31 , 2014 .', 'see note 7 to the accompanying audited consolidated financial statements included elsewhere in this report for additional details .', 'share repurchase program on november 6 , 2014 , we announced that our board of directors approved a $ 500 million share repurchase program effective immediately under which we may repurchase shares of our common stock in the open market or through privately negotiated transactions , depending on share price , market conditions and other factors .', 'the share repurchase program does not obligate us to repurchase any dollar amount or number of shares , and repurchases may be commenced or suspended from time to time without prior notice .', 'as of the date of this filing , no shares have been repurchased under the share repurchase program .', 'dividends a summary of 2014 dividend activity for our common stock is shown below: .']
####
Tabular Data:
****************************************
• dividend amount, declaration date, record date, payment date
• $ 0.0425, february 12 2014, february 25 2014, march 10 2014
• $ 0.0425, may 8 2014, may 27 2014, june 10 2014
• $ 0.0425, july 31 2014, august 25 2014, september 10 2014
• $ 0.0675, november 6 2014, november 25 2014, december 10 2014
****************************************
####
Additional Information: ['on february 10 , 2015 , we announced that our board of directors declared a quarterly cash dividend on our common stock of $ 0.0675 per share .', 'the dividend will be paid on march 10 , 2015 to all stockholders of record as of the close of business on february 25 , 2015 .', 'the payment of any future dividends will be at the discretion of our board of directors and will depend upon our results of operations , financial condition , business prospects , capital requirements , contractual restrictions , any potential indebtedness we may incur , restrictions imposed by applicable law , tax considerations and other factors that our board of directors deems relevant .', 'in addition , our ability to pay dividends on our common stock will be limited by restrictions on our ability to pay dividends or make distributions to our stockholders and on the ability of our subsidiaries to pay dividends or make distributions to us , in each case , under the terms of our current and any future agreements governing our indebtedness .', 'table of contents .'] | 42.5 | CDW/2014/page_55.pdf-1 | ['overview we finance our operations and capital expenditures through a combination of internally generated cash from operations and from borrowings under our senior secured asset-based revolving credit facility .', 'we believe that our current sources of funds will be sufficient to fund our cash operating requirements for the next year .', 'in addition , we believe that , in spite of the uncertainty of future macroeconomic conditions , we have adequate sources of liquidity and funding available to meet our longer-term needs .', 'however , there are a number of factors that may negatively impact our available sources of funds .', 'the amount of cash generated from operations will be dependent upon factors such as the successful execution of our business plan and general economic conditions .', 'long-term debt activities during the year ended december 31 , 2014 , we had significant debt refinancings .', 'in connection with these refinancings , we recorded a loss on extinguishment of long-term debt of $ 90.7 million in our consolidated statement of operations for the year ended december 31 , 2014 .', 'see note 7 to the accompanying audited consolidated financial statements included elsewhere in this report for additional details .', 'share repurchase program on november 6 , 2014 , we announced that our board of directors approved a $ 500 million share repurchase program effective immediately under which we may repurchase shares of our common stock in the open market or through privately negotiated transactions , depending on share price , market conditions and other factors .', 'the share repurchase program does not obligate us to repurchase any dollar amount or number of shares , and repurchases may be commenced or suspended from time to time without prior notice .', 'as of the date of this filing , no shares have been repurchased under the share repurchase program .', 'dividends a summary of 2014 dividend activity for our common stock is shown below: .'] | ['on february 10 , 2015 , we announced that our board of directors declared a quarterly cash dividend on our common stock of $ 0.0675 per share .', 'the dividend will be paid on march 10 , 2015 to all stockholders of record as of the close of business on february 25 , 2015 .', 'the payment of any future dividends will be at the discretion of our board of directors and will depend upon our results of operations , financial condition , business prospects , capital requirements , contractual restrictions , any potential indebtedness we may incur , restrictions imposed by applicable law , tax considerations and other factors that our board of directors deems relevant .', 'in addition , our ability to pay dividends on our common stock will be limited by restrictions on our ability to pay dividends or make distributions to our stockholders and on the ability of our subsidiaries to pay dividends or make distributions to us , in each case , under the terms of our current and any future agreements governing our indebtedness .', 'table of contents .'] | ****************************************
• dividend amount, declaration date, record date, payment date
• $ 0.0425, february 12 2014, february 25 2014, march 10 2014
• $ 0.0425, may 8 2014, may 27 2014, june 10 2014
• $ 0.0425, july 31 2014, august 25 2014, september 10 2014
• $ 0.0675, november 6 2014, november 25 2014, december 10 2014
**************************************** | multiply(0.0425, 1000) | 42.5 |
what was the percentage growth in the total long-term debt from 2016 to 2017 | Pre-text: ['the components of external long-term debt were as follows : ( in millions ) 2017 2016 .']
Table:
========================================
( in millions ) | 2017 | 2016
$ 400 million unsecured senior note due june 2020 | $ 398.3 | $ 397.6
$ 500 million unsecured senior note due june 2025 | 494.3 | 493.5
$ 1250 million revolving credit agreement due june 2021 | 615.0 | 540.0
total debt | 1507.6 | 1431.1
less : current portion | 2014 | 2014
total long-term debt | $ 1507.6 | $ 1431.1
========================================
Additional Information: ['senior notes payments during the next five years as of december 31 , 2017 are zero in 2018 through 2019 , $ 400 million in 2020 and zero in 2021 through 2022 .', 'in our debt agreements , there are normal and customary events of default which would permit the lenders to accelerate the debt if not cured within applicable grace periods , such as failure to pay principal or interest when due or a change in control of the company .', 'there were no events of default as of december 31 , 2017 .', '9 .', 'financial instruments we do not enter into financial instruments for trading or speculative purposes .', 'we principally use financial instruments to reduce the impact of changes in foreign currency exchange rates and commodities used as raw materials in our products .', 'the principal derivative financial instruments we enter into on a routine basis are foreign exchange contracts .', 'derivative financial instruments are recorded at fair value .', 'the counterparties to derivative contracts are major financial institutions .', 'we are subject to credit risk on these contracts equal to the fair value of these instruments .', 'management currently believes that the risk of incurring material losses is unlikely and that the losses , if any , would be immaterial to the company .', 'raw materials used by the company are subject to price volatility caused by weather , supply conditions , geopolitical and economic variables , and other unpredictable external factors .', 'as a result , from time to time , we enter into commodity swaps to manage the price risk associated with forecasted purchases of materials used in our operations .', 'we account for these commodity derivatives as economic hedges or cash flow hedges .', 'changes in the fair value of economic hedges are recorded directly into current period earnings .', 'there were no material commodity swap contracts outstanding for the years ended december 31 , 2017 and 2016 .', 'we enter into foreign exchange contracts primarily to hedge forecasted sales and purchases denominated in select foreign currencies , thereby limiting currency risk that would otherwise result from changes in exchange rates .', 'the periods of the foreign exchange contracts correspond to the periods of the forecasted transactions , which generally do not exceed 12 to 15 months subsequent to the latest balance sheet date .', 'for derivative instruments that are designated as fair value hedges , the gain or loss on the derivative instrument , as well as the offsetting loss or gain on the hedged item , are recognized on the same line of the statement of income .', 'the effective portions of cash flow hedges are reported in other comprehensive income ( 201coci 201d ) and are recognized in the statement of income when the hedged item affects earnings .', 'the changes in fair value for net investment hedges are recognized in the statement of income when realized upon sale or upon complete or substantially complete liquidation of the investment in the foreign entity .', 'the ineffective portion of all hedges is recognized in current period earnings .', 'in addition , changes in the fair value of all economic hedge transactions are immediately recognized in current period earnings .', 'our primary foreign currency hedge contracts pertain to the canadian dollar , the british pound , and the mexican peso .', 'the gross u.s .', 'dollar equivalent notional amount of all foreign currency derivative hedges outstanding at december 31 , 2017 was $ 282.8 million , representing a net settlement liability of $ 4.8 million .', 'based on foreign exchange rates as of december 31 , 2017 , we estimate that $ 3.0 million of net foreign currency .'] | 76.5 | FBHS/2017/page_76.pdf-2 | ['the components of external long-term debt were as follows : ( in millions ) 2017 2016 .'] | ['senior notes payments during the next five years as of december 31 , 2017 are zero in 2018 through 2019 , $ 400 million in 2020 and zero in 2021 through 2022 .', 'in our debt agreements , there are normal and customary events of default which would permit the lenders to accelerate the debt if not cured within applicable grace periods , such as failure to pay principal or interest when due or a change in control of the company .', 'there were no events of default as of december 31 , 2017 .', '9 .', 'financial instruments we do not enter into financial instruments for trading or speculative purposes .', 'we principally use financial instruments to reduce the impact of changes in foreign currency exchange rates and commodities used as raw materials in our products .', 'the principal derivative financial instruments we enter into on a routine basis are foreign exchange contracts .', 'derivative financial instruments are recorded at fair value .', 'the counterparties to derivative contracts are major financial institutions .', 'we are subject to credit risk on these contracts equal to the fair value of these instruments .', 'management currently believes that the risk of incurring material losses is unlikely and that the losses , if any , would be immaterial to the company .', 'raw materials used by the company are subject to price volatility caused by weather , supply conditions , geopolitical and economic variables , and other unpredictable external factors .', 'as a result , from time to time , we enter into commodity swaps to manage the price risk associated with forecasted purchases of materials used in our operations .', 'we account for these commodity derivatives as economic hedges or cash flow hedges .', 'changes in the fair value of economic hedges are recorded directly into current period earnings .', 'there were no material commodity swap contracts outstanding for the years ended december 31 , 2017 and 2016 .', 'we enter into foreign exchange contracts primarily to hedge forecasted sales and purchases denominated in select foreign currencies , thereby limiting currency risk that would otherwise result from changes in exchange rates .', 'the periods of the foreign exchange contracts correspond to the periods of the forecasted transactions , which generally do not exceed 12 to 15 months subsequent to the latest balance sheet date .', 'for derivative instruments that are designated as fair value hedges , the gain or loss on the derivative instrument , as well as the offsetting loss or gain on the hedged item , are recognized on the same line of the statement of income .', 'the effective portions of cash flow hedges are reported in other comprehensive income ( 201coci 201d ) and are recognized in the statement of income when the hedged item affects earnings .', 'the changes in fair value for net investment hedges are recognized in the statement of income when realized upon sale or upon complete or substantially complete liquidation of the investment in the foreign entity .', 'the ineffective portion of all hedges is recognized in current period earnings .', 'in addition , changes in the fair value of all economic hedge transactions are immediately recognized in current period earnings .', 'our primary foreign currency hedge contracts pertain to the canadian dollar , the british pound , and the mexican peso .', 'the gross u.s .', 'dollar equivalent notional amount of all foreign currency derivative hedges outstanding at december 31 , 2017 was $ 282.8 million , representing a net settlement liability of $ 4.8 million .', 'based on foreign exchange rates as of december 31 , 2017 , we estimate that $ 3.0 million of net foreign currency .'] | ========================================
( in millions ) | 2017 | 2016
$ 400 million unsecured senior note due june 2020 | $ 398.3 | $ 397.6
$ 500 million unsecured senior note due june 2025 | 494.3 | 493.5
$ 1250 million revolving credit agreement due june 2021 | 615.0 | 540.0
total debt | 1507.6 | 1431.1
less : current portion | 2014 | 2014
total long-term debt | $ 1507.6 | $ 1431.1
======================================== | subtract(1507.6, 1431.1) | 76.5 |
what was the average number of shares issued to employees from 2013 to 2015 | Pre-text: ["other information related to the company's share options is as follows ( in millions ) : ."]
##########
Table:
****************************************
2015 2014 2013
aggregate intrinsic value of stock options exercised $ 104 $ 61 $ 73
cash received from the exercise of stock options 40 38 61
tax benefit realized from the exercise of stock options 36 16 15
****************************************
##########
Post-table: ['unamortized deferred compensation expense , which includes both options and rsus , amounted to $ 378 million as of december 31 , 2015 , with a remaining weighted-average amortization period of approximately 2.1 years .', "employee share purchase plan united states the company has an employee share purchase plan that provides for the purchase of a maximum of 7.5 million shares of the company's ordinary shares by eligible u.s .", 'employees .', "the company's ordinary shares were purchased at 6-month intervals at 85% ( 85 % ) of the lower of the fair market value of the ordinary shares on the first or last day of each 6-month period .", 'in 2015 , 2014 , and 2013 , 411636 shares , 439000 shares and 556000 shares , respectively , were issued to employees under the plan .', 'compensation expense recognized was $ 9 million in 2015 , $ 7 million in 2014 , and $ 6 million in 2013 .', 'united kingdom the company also has an employee share purchase plan for eligible u.k .', 'employees that provides for the purchase of shares after a 3-year period and that is similar to the u.s .', 'plan previously described .', 'three-year periods began in 2015 , 2014 , 2013 , allowing for the purchase of a maximum of 100000 , 300000 , and 350000 shares , respectively .', 'in 2015 , 2014 , and 2013 , 2779 shares , 642 shares , and 172110 shares , respectively , were issued under the plan .', 'compensation expense of $ 2 million was recognized in 2015 and 2014 , as compared to $ 1 million of compensation expense in 2013 .', '12 .', 'derivatives and hedging the company is exposed to market risks , including changes in foreign currency exchange rates and interest rates .', 'to manage the risk related to these exposures , the company enters into various derivative instruments that reduce these risks by creating offsetting exposures .', 'the company does not enter into derivative transactions for trading or speculative purposes .', 'foreign exchange risk management the company is exposed to foreign exchange risk when it earns revenues , pays expenses , or enters into monetary intercompany transfers denominated in a currency that differs from its functional currency , or other transactions that are denominated in a currency other than its functional currency .', 'the company uses foreign exchange derivatives , typically forward contracts , options and cross-currency swaps , to reduce its overall exposure to the effects of currency fluctuations on cash flows .', 'these exposures are hedged , on average , for less than two years .', 'these derivatives are accounted for as hedges , and changes in fair value are recorded each period in other comprehensive income ( loss ) in the consolidated statements of comprehensive income .', "the company also uses foreign exchange derivatives , typically forward contracts and options to economically hedge the currency exposure of the company's global liquidity profile , including monetary assets or liabilities that are denominated in a non-functional currency of an entity , typically on a rolling 30-day basis , but may be for up to one year in the future .", 'these derivatives are not accounted for as hedges , and changes in fair value are recorded each period in other income in the consolidated statements of income. .'] | 850636.0 | AON/2015/page_96.pdf-1 | ["other information related to the company's share options is as follows ( in millions ) : ."] | ['unamortized deferred compensation expense , which includes both options and rsus , amounted to $ 378 million as of december 31 , 2015 , with a remaining weighted-average amortization period of approximately 2.1 years .', "employee share purchase plan united states the company has an employee share purchase plan that provides for the purchase of a maximum of 7.5 million shares of the company's ordinary shares by eligible u.s .", 'employees .', "the company's ordinary shares were purchased at 6-month intervals at 85% ( 85 % ) of the lower of the fair market value of the ordinary shares on the first or last day of each 6-month period .", 'in 2015 , 2014 , and 2013 , 411636 shares , 439000 shares and 556000 shares , respectively , were issued to employees under the plan .', 'compensation expense recognized was $ 9 million in 2015 , $ 7 million in 2014 , and $ 6 million in 2013 .', 'united kingdom the company also has an employee share purchase plan for eligible u.k .', 'employees that provides for the purchase of shares after a 3-year period and that is similar to the u.s .', 'plan previously described .', 'three-year periods began in 2015 , 2014 , 2013 , allowing for the purchase of a maximum of 100000 , 300000 , and 350000 shares , respectively .', 'in 2015 , 2014 , and 2013 , 2779 shares , 642 shares , and 172110 shares , respectively , were issued under the plan .', 'compensation expense of $ 2 million was recognized in 2015 and 2014 , as compared to $ 1 million of compensation expense in 2013 .', '12 .', 'derivatives and hedging the company is exposed to market risks , including changes in foreign currency exchange rates and interest rates .', 'to manage the risk related to these exposures , the company enters into various derivative instruments that reduce these risks by creating offsetting exposures .', 'the company does not enter into derivative transactions for trading or speculative purposes .', 'foreign exchange risk management the company is exposed to foreign exchange risk when it earns revenues , pays expenses , or enters into monetary intercompany transfers denominated in a currency that differs from its functional currency , or other transactions that are denominated in a currency other than its functional currency .', 'the company uses foreign exchange derivatives , typically forward contracts , options and cross-currency swaps , to reduce its overall exposure to the effects of currency fluctuations on cash flows .', 'these exposures are hedged , on average , for less than two years .', 'these derivatives are accounted for as hedges , and changes in fair value are recorded each period in other comprehensive income ( loss ) in the consolidated statements of comprehensive income .', "the company also uses foreign exchange derivatives , typically forward contracts and options to economically hedge the currency exposure of the company's global liquidity profile , including monetary assets or liabilities that are denominated in a non-functional currency of an entity , typically on a rolling 30-day basis , but may be for up to one year in the future .", 'these derivatives are not accounted for as hedges , and changes in fair value are recorded each period in other income in the consolidated statements of income. .'] | ****************************************
2015 2014 2013
aggregate intrinsic value of stock options exercised $ 104 $ 61 $ 73
cash received from the exercise of stock options 40 38 61
tax benefit realized from the exercise of stock options 36 16 15
**************************************** | add(411636, 439000) | 850636.0 |
as part of the acquisition of 5483 communications sites from tim in brazil what was the average price per site in millions | Background: ['as of december 31 , 2016 , we had total outstanding indebtedness of $ 18.7 billion , with a current portion of $ 238.8 million .', 'during the year ended december 31 , 2016 , we generated sufficient cash flow from operations to fund our capital expenditures and debt service obligations , as well as our required distributions .', 'we believe the cash generated by operating activities during the year ending december 31 , 2017 will be sufficient to fund our required distributions , capital expenditures , debt service obligations ( interest and principal repayments ) and signed acquisitions .', 'as of december 31 , 2016 , we had $ 423.0 million of cash and cash equivalents held by our foreign subsidiaries , of which $ 183.9 million was held by our joint ventures .', 'while certain subsidiaries may pay us interest or principal on intercompany debt , it has not been our practice to repatriate earnings from our foreign subsidiaries primarily due to our ongoing expansion efforts and related capital needs .', 'however , in the event that we do repatriate any funds , we may be required to accrue and pay taxes .', 'cash flows from operating activities for the year ended december 31 , 2016 , cash provided by operating activities increased $ 520.6 million as compared to the year ended december 31 , 2015 .', 'the primary factors that impacted cash provided by operating activities as compared to the year ended december 31 , 2015 , include : 2022 an increase in our operating profit of $ 490.8 million ; 2022 an increase of approximately $ 67.1 million in cash paid for interest ; and 2022 a decrease of approximately $ 60.8 million in cash paid for taxes .', 'for the year ended december 31 , 2015 , cash provided by operating activities increased $ 48.5 million as compared to the year ended december 31 , 2014 .', 'the primary factors that impacted cash provided by operating activities as compared to the year ended december 31 , 2014 , include : 2022 an increase in our operating profit of $ 433.3 million ; 2022 an increase of approximately $ 87.8 million in cash paid for taxes , driven primarily by the mipt one-time cash tax charge of $ 93.0 million ; 2022 a decrease in capital contributions , tenant settlements and other prepayments of approximately $ 99.0 million ; 2022 an increase of approximately $ 29.9 million in cash paid for interest ; 2022 a decrease of approximately $ 34.9 million in termination and decommissioning fees ; 2022 a decrease of approximately $ 49.0 million in tenant receipts due to timing ; and 2022 a decrease due to the non-recurrence of a 2014 value added tax refund of approximately $ 60.3 million .', 'cash flows from investing activities our significant investing activities during the year ended december 31 , 2016 are highlighted below : 2022 we spent approximately $ 1.1 billion for the viom acquisition .', '2022 we spent $ 701.4 million for capital expenditures , as follows ( in millions ) : .']
Data Table:
****************************************
discretionary capital projects ( 1 ), $ 149.7
ground lease purchases, 153.3
capital improvements and corporate expenditures ( 2 ), 126.7
redevelopment, 147.4
start-up capital projects, 124.3
total capital expenditures, $ 701.4
****************************************
Additional Information: ['_______________ ( 1 ) includes the construction of 1869 communications sites globally .', '( 2 ) includes $ 18.9 million of capital lease payments included in repayments of notes payable , credit facilities , term loan , senior notes and capital leases in the cash flow from financing activities in our consolidated statement of cash flows .', 'our significant investing transactions in 2015 included the following : 2022 we spent $ 5.059 billion for the verizon transaction .', '2022 we spent $ 796.9 million for the acquisition of 5483 communications sites from tim in brazil .', '2022 we spent $ 1.1 billion for the acquisition of 4716 communications sites from certain of airtel 2019s subsidiaries in nigeria. .'] | 0.14534 | AMT/2016/page_69.pdf-2 | ['as of december 31 , 2016 , we had total outstanding indebtedness of $ 18.7 billion , with a current portion of $ 238.8 million .', 'during the year ended december 31 , 2016 , we generated sufficient cash flow from operations to fund our capital expenditures and debt service obligations , as well as our required distributions .', 'we believe the cash generated by operating activities during the year ending december 31 , 2017 will be sufficient to fund our required distributions , capital expenditures , debt service obligations ( interest and principal repayments ) and signed acquisitions .', 'as of december 31 , 2016 , we had $ 423.0 million of cash and cash equivalents held by our foreign subsidiaries , of which $ 183.9 million was held by our joint ventures .', 'while certain subsidiaries may pay us interest or principal on intercompany debt , it has not been our practice to repatriate earnings from our foreign subsidiaries primarily due to our ongoing expansion efforts and related capital needs .', 'however , in the event that we do repatriate any funds , we may be required to accrue and pay taxes .', 'cash flows from operating activities for the year ended december 31 , 2016 , cash provided by operating activities increased $ 520.6 million as compared to the year ended december 31 , 2015 .', 'the primary factors that impacted cash provided by operating activities as compared to the year ended december 31 , 2015 , include : 2022 an increase in our operating profit of $ 490.8 million ; 2022 an increase of approximately $ 67.1 million in cash paid for interest ; and 2022 a decrease of approximately $ 60.8 million in cash paid for taxes .', 'for the year ended december 31 , 2015 , cash provided by operating activities increased $ 48.5 million as compared to the year ended december 31 , 2014 .', 'the primary factors that impacted cash provided by operating activities as compared to the year ended december 31 , 2014 , include : 2022 an increase in our operating profit of $ 433.3 million ; 2022 an increase of approximately $ 87.8 million in cash paid for taxes , driven primarily by the mipt one-time cash tax charge of $ 93.0 million ; 2022 a decrease in capital contributions , tenant settlements and other prepayments of approximately $ 99.0 million ; 2022 an increase of approximately $ 29.9 million in cash paid for interest ; 2022 a decrease of approximately $ 34.9 million in termination and decommissioning fees ; 2022 a decrease of approximately $ 49.0 million in tenant receipts due to timing ; and 2022 a decrease due to the non-recurrence of a 2014 value added tax refund of approximately $ 60.3 million .', 'cash flows from investing activities our significant investing activities during the year ended december 31 , 2016 are highlighted below : 2022 we spent approximately $ 1.1 billion for the viom acquisition .', '2022 we spent $ 701.4 million for capital expenditures , as follows ( in millions ) : .'] | ['_______________ ( 1 ) includes the construction of 1869 communications sites globally .', '( 2 ) includes $ 18.9 million of capital lease payments included in repayments of notes payable , credit facilities , term loan , senior notes and capital leases in the cash flow from financing activities in our consolidated statement of cash flows .', 'our significant investing transactions in 2015 included the following : 2022 we spent $ 5.059 billion for the verizon transaction .', '2022 we spent $ 796.9 million for the acquisition of 5483 communications sites from tim in brazil .', '2022 we spent $ 1.1 billion for the acquisition of 4716 communications sites from certain of airtel 2019s subsidiaries in nigeria. .'] | ****************************************
discretionary capital projects ( 1 ), $ 149.7
ground lease purchases, 153.3
capital improvements and corporate expenditures ( 2 ), 126.7
redevelopment, 147.4
start-up capital projects, 124.3
total capital expenditures, $ 701.4
**************************************** | divide(796.9, 5483) | 0.14534 |
what percentage of total obligations is the property mortgages and ground leases obligations? | Context: ['56 / 57 management 2019s discussion and analysis of financial condition and results of operations junior subordinate deferrable interest debentures in june 2005 , we issued $ 100.0 a0million of trust preferred securities , which are reflected on the balance sheet as junior subordinate deferrable interest debentures .', 'the proceeds were used to repay our revolving credit facility .', 'the $ 100.0 a0million of junior subordi- nate deferrable interest debentures have a 30-year term ending july 2035 .', 'they bear interest at a fixed rate of 5.61% ( 5.61 % ) for the first 10 years ending july 2015 .', 'thereafter , the rate will float at three month libor plus 1.25% ( 1.25 % ) .', 'the securities are redeemable at par .', 'restrictive covenants the terms of the 2011 revolving credit facility and certain of our senior unsecured notes include certain restrictions and covenants which may limit , among other things , our ability to pay dividends ( as discussed below ) , make certain types of investments , incur additional indebtedness , incur liens and enter into negative pledge agreements and the disposition of assets , and which require compliance with financial ratios including our minimum tangible net worth , a maximum ratio of total indebtedness to total asset value , a minimum ratio of ebitda to fixed charges and a maximum ratio of unsecured indebtedness to unencumbered asset value .', 'the dividend restriction referred to above provides that we will not during any time when we are in default , make distributions with respect to common stock or other equity interests , except to enable us to continue to qualify as a reit for federal income tax purposes .', 'as of december a031 , 2011 and 2010 , we were in compli- ance with all such covenants .', 'market rate risk we are exposed to changes in interest rates primarily from our floating rate borrowing arrangements .', 'we use interest rate deriv- ative instruments to manage exposure to interest rate changes .', 'a a0hypothetical 100 a0basis point increase in interest rates along the entire interest rate curve for 2011 and 2010 , would increase our annual interest cost by approximately $ 12.3 a0million and $ 11.0 a0mil- lion and would increase our share of joint venture annual interest cost by approximately $ 4.8 a0million and $ 6.7 a0million , respectively .', '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 earnings , 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 is recognized immediately in earnings .', 'approximately $ 4.8 a0billion of our long- term debt bore interest a0at fixed rates , and therefore the fair value of these instru- ments is affected by changes in the market interest rates .', 'the interest rate on our variable rate debt and joint venture debt as of december a031 , 2011 ranged from libor plus 150 a0basis points to libor plus 350 a0basis points .', 'contractual obligations combined aggregate principal maturities of mortgages and other loans payable , our 2011 revolving credit facility , senior unsecured notes ( net of discount ) , trust preferred securities , our share of joint venture debt , including as- of-right extension options , estimated interest expense ( based on weighted average interest rates for the quarter ) , and our obligations under our capital lease and ground leases , as of december a031 , 2011 are as follows ( in thousands ) : .']
########
Table:
========================================
, 2012, 2013, 2014, 2015, 2016, thereafter, total
property mortgages, $ 52443, $ 568649, $ 647776, $ 270382, $ 556400, $ 2278190, $ 4373840
revolving credit facility, 2014, 2014, 2014, 2014, 350000, 2014, 350000
trust preferred securities, 2014, 2014, 2014, 2014, 2014, 100000, 100000
senior unsecured notes, 119423, 2014, 98578, 657, 274804, 777194, 1270656
capital lease, 1555, 1555, 1555, 1592, 1707, 42351, 50315
ground leases, 33429, 33429, 33429, 33429, 33533, 615450, 782699
estimated interest expense, 312672, 309280, 269286, 244709, 212328, 470359, 1818634
joint venture debt, 176457, 93683, 123983, 102476, 527814, 800102, 1824515
total, $ 695979, $ 1006596, $ 1174607, $ 653245, $ 1956586, $ 5083646, $ 10570659
========================================
########
Follow-up: ['.'] | 5156539.0 | SLG/2011/page_58.pdf-2 | ['56 / 57 management 2019s discussion and analysis of financial condition and results of operations junior subordinate deferrable interest debentures in june 2005 , we issued $ 100.0 a0million of trust preferred securities , which are reflected on the balance sheet as junior subordinate deferrable interest debentures .', 'the proceeds were used to repay our revolving credit facility .', 'the $ 100.0 a0million of junior subordi- nate deferrable interest debentures have a 30-year term ending july 2035 .', 'they bear interest at a fixed rate of 5.61% ( 5.61 % ) for the first 10 years ending july 2015 .', 'thereafter , the rate will float at three month libor plus 1.25% ( 1.25 % ) .', 'the securities are redeemable at par .', 'restrictive covenants the terms of the 2011 revolving credit facility and certain of our senior unsecured notes include certain restrictions and covenants which may limit , among other things , our ability to pay dividends ( as discussed below ) , make certain types of investments , incur additional indebtedness , incur liens and enter into negative pledge agreements and the disposition of assets , and which require compliance with financial ratios including our minimum tangible net worth , a maximum ratio of total indebtedness to total asset value , a minimum ratio of ebitda to fixed charges and a maximum ratio of unsecured indebtedness to unencumbered asset value .', 'the dividend restriction referred to above provides that we will not during any time when we are in default , make distributions with respect to common stock or other equity interests , except to enable us to continue to qualify as a reit for federal income tax purposes .', 'as of december a031 , 2011 and 2010 , we were in compli- ance with all such covenants .', 'market rate risk we are exposed to changes in interest rates primarily from our floating rate borrowing arrangements .', 'we use interest rate deriv- ative instruments to manage exposure to interest rate changes .', 'a a0hypothetical 100 a0basis point increase in interest rates along the entire interest rate curve for 2011 and 2010 , would increase our annual interest cost by approximately $ 12.3 a0million and $ 11.0 a0mil- lion and would increase our share of joint venture annual interest cost by approximately $ 4.8 a0million and $ 6.7 a0million , respectively .', '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 earnings , 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 is recognized immediately in earnings .', 'approximately $ 4.8 a0billion of our long- term debt bore interest a0at fixed rates , and therefore the fair value of these instru- ments is affected by changes in the market interest rates .', 'the interest rate on our variable rate debt and joint venture debt as of december a031 , 2011 ranged from libor plus 150 a0basis points to libor plus 350 a0basis points .', 'contractual obligations combined aggregate principal maturities of mortgages and other loans payable , our 2011 revolving credit facility , senior unsecured notes ( net of discount ) , trust preferred securities , our share of joint venture debt , including as- of-right extension options , estimated interest expense ( based on weighted average interest rates for the quarter ) , and our obligations under our capital lease and ground leases , as of december a031 , 2011 are as follows ( in thousands ) : .'] | ['.'] | ========================================
, 2012, 2013, 2014, 2015, 2016, thereafter, total
property mortgages, $ 52443, $ 568649, $ 647776, $ 270382, $ 556400, $ 2278190, $ 4373840
revolving credit facility, 2014, 2014, 2014, 2014, 350000, 2014, 350000
trust preferred securities, 2014, 2014, 2014, 2014, 2014, 100000, 100000
senior unsecured notes, 119423, 2014, 98578, 657, 274804, 777194, 1270656
capital lease, 1555, 1555, 1555, 1592, 1707, 42351, 50315
ground leases, 33429, 33429, 33429, 33429, 33533, 615450, 782699
estimated interest expense, 312672, 309280, 269286, 244709, 212328, 470359, 1818634
joint venture debt, 176457, 93683, 123983, 102476, 527814, 800102, 1824515
total, $ 695979, $ 1006596, $ 1174607, $ 653245, $ 1956586, $ 5083646, $ 10570659
======================================== | add(4373840, 782699) | 5156539.0 |
in 2014 , what percentage of the total amortization amount was from intangibles? | Background: ['devon energy corporation and subsidiaries notes to consolidated financial statements 2013 ( continued ) asset divestitures in conjunction with the asset divestitures in 2013 and 2014 , devon removed $ 26 million and $ 706 million of goodwill , respectively , which were allocated to these assets .', 'impairment devon 2019s canadian goodwill was originally recognized in 2001 as a result of a business combination consisting almost entirely of conventional gas assets that devon no longer owns .', 'as a result of performing the goodwill impairment test described in note 1 , devon concluded the implied fair value of its canadian goodwill was zero as of december 31 , 2014 .', 'this conclusion was largely based on the significant decline in benchmark oil prices , particularly after opec 2019s decision not to reduce its production targets that was announced in late november 2014 .', 'consequently , in the fourth quarter of 2014 , devon wrote off its remaining canadian goodwill and recognized a $ 1.9 billion impairment .', 'other intangible assets as of december 31 , 2014 , intangible assets associated with customer relationships had a gross carrying amount of $ 569 million and $ 36 million of accumulated amortization .', 'the weighted-average amortization period for the customer relationships is 13.7 years .', 'amortization expense for intangibles was approximately $ 36 million for the year ended december 31 , 2014 .', 'other intangible assets are reported in other long-term assets in the accompanying consolidated balance sheets .', 'the following table summarizes the estimated aggregate amortization expense for the next five years .', 'year amortization amount ( in millions ) .']
######
Tabular Data:
Row 1: year, amortization amount ( in millions )
Row 2: 2015, $ 45
Row 3: 2016, $ 45
Row 4: 2017, $ 45
Row 5: 2018, $ 45
Row 6: 2019, $ 44
######
Additional Information: ['.'] | 80.0 | DVN/2014/page_85.pdf-2 | ['devon energy corporation and subsidiaries notes to consolidated financial statements 2013 ( continued ) asset divestitures in conjunction with the asset divestitures in 2013 and 2014 , devon removed $ 26 million and $ 706 million of goodwill , respectively , which were allocated to these assets .', 'impairment devon 2019s canadian goodwill was originally recognized in 2001 as a result of a business combination consisting almost entirely of conventional gas assets that devon no longer owns .', 'as a result of performing the goodwill impairment test described in note 1 , devon concluded the implied fair value of its canadian goodwill was zero as of december 31 , 2014 .', 'this conclusion was largely based on the significant decline in benchmark oil prices , particularly after opec 2019s decision not to reduce its production targets that was announced in late november 2014 .', 'consequently , in the fourth quarter of 2014 , devon wrote off its remaining canadian goodwill and recognized a $ 1.9 billion impairment .', 'other intangible assets as of december 31 , 2014 , intangible assets associated with customer relationships had a gross carrying amount of $ 569 million and $ 36 million of accumulated amortization .', 'the weighted-average amortization period for the customer relationships is 13.7 years .', 'amortization expense for intangibles was approximately $ 36 million for the year ended december 31 , 2014 .', 'other intangible assets are reported in other long-term assets in the accompanying consolidated balance sheets .', 'the following table summarizes the estimated aggregate amortization expense for the next five years .', 'year amortization amount ( in millions ) .'] | ['.'] | Row 1: year, amortization amount ( in millions )
Row 2: 2015, $ 45
Row 3: 2016, $ 45
Row 4: 2017, $ 45
Row 5: 2018, $ 45
Row 6: 2019, $ 44 | divide(36, 45), multiply(#0, const_100) | 80.0 |
during the second quarter of fiscal 2012 , what was the change in billions from the april 2012 plan to the new stock repurchase program granting authority to repurchase common stock through the end of fiscal 2015? | Pre-text: ['the following table sets forth the components of foreign currency translation adjustments for fiscal 2012 , 2011 and 2010 ( in thousands ) : .']
##########
Tabular Data:
| 2012 | 2011 | 2010
----------|----------|----------|----------
beginning balance | $ 10580 | $ 7632 | $ 10640
foreign currency translation adjustments | -2225 ( 2225 ) | 5156 | -4144 ( 4144 )
income tax effect relating to translation adjustments forundistributed foreign earnings | 1314 | -2208 ( 2208 ) | 1136
ending balance | $ 9669 | $ 10580 | $ 7632
##########
Follow-up: ['stock repurchase program to facilitate our stock repurchase program , designed to return value to our stockholders and minimize dilution from stock issuances , we repurchase shares in the open market and also enter into structured repurchase agreements with third-parties .', 'authorization to repurchase shares to cover on-going dilution was not subject to expiration .', 'however , this repurchase program was limited to covering net dilution from stock issuances and was subject to business conditions and cash flow requirements as determined by our board of directors from time to time .', 'during the third quarter of fiscal 2010 , our board of directors approved an amendment to our stock repurchase program authorized in april 2007 from a non-expiring share-based authority to a time-constrained dollar-based authority .', 'as part of this amendment , the board of directors granted authority to repurchase up to $ 1.6 billion in common stock through the end of fiscal 2012 .', 'during the second quarter of fiscal 2012 , we exhausted our $ 1.6 billion authority granted by our board of directors in fiscal in april 2012 , the board of directors approved a new stock repurchase program granting authority to repurchase up to $ 2.0 billion in common stock through the end of fiscal 2015 .', 'the new stock repurchase program approved by our board of directors is similar to our previous $ 1.6 billion stock repurchase program .', 'during fiscal 2012 , 2011 and 2010 , we entered into several structured repurchase agreements with large financial institutions , whereupon we provided the financial institutions with prepayments totaling $ 405.0 million , $ 695.0 million and $ 850 million , respectively .', 'of the $ 405.0 million of prepayments during fiscal 2012 , $ 100.0 million was under the new $ 2.0 billion stock repurchase program and the remaining $ 305.0 million was under our previous $ 1.6 billion authority .', 'of the $ 850.0 million of prepayments during fiscal 2010 , $ 250.0 million was under the stock repurchase program prior to the program amendment in the third quarter of fiscal 2010 and the remaining $ 600.0 million was under the amended $ 1.6 billion time-constrained dollar-based authority .', 'we enter into these agreements in order to take advantage of repurchasing shares at a guaranteed discount to the volume weighted average price ( 201cvwap 201d ) of our common stock over a specified period of time .', 'we only enter into such transactions when the discount that we receive is higher than the foregone return on our cash prepayments to the financial institutions .', 'there were no explicit commissions or fees on these structured repurchases .', 'under the terms of the agreements , there is no requirement for the financial institutions to return any portion of the prepayment to us .', 'the financial institutions agree to deliver shares to us at monthly intervals during the contract term .', 'the parameters used to calculate the number of shares deliverable are : the total notional amount of the contract , the number of trading days in the contract , the number of trading days in the interval and the average vwap of our stock during the interval less the agreed upon discount .', 'during fiscal 2012 , we repurchased approximately 11.5 million shares at an average price of $ 32.29 through structured repurchase agreements entered into during fiscal 2012 .', 'during fiscal 2011 , we repurchased approximately 21.8 million shares at an average price of $ 31.81 through structured repurchase agreements entered into during fiscal 2011 .', 'during fiscal 2010 , we repurchased approximately 31.2 million shares at an average price per share of $ 29.19 through structured repurchase agreements entered into during fiscal 2009 and fiscal 2010 .', 'for fiscal 2012 , 2011 and 2010 , the prepayments were classified as treasury stock on our consolidated balance sheets at the payment date , though only shares physically delivered to us by november 30 , 2012 , december 2 , 2011 and december 3 , 2010 were excluded from the computation of earnings per share .', 'as of november 30 , 2012 , $ 33.0 million of prepayments remained under these agreements .', 'as of december 2 , 2011 and december 3 , 2010 , no prepayments remained under these agreements .', 'table of contents adobe systems incorporated notes to consolidated financial statements ( continued ) .'] | 0.4 | ADBE/2012/page_113.pdf-3 | ['the following table sets forth the components of foreign currency translation adjustments for fiscal 2012 , 2011 and 2010 ( in thousands ) : .'] | ['stock repurchase program to facilitate our stock repurchase program , designed to return value to our stockholders and minimize dilution from stock issuances , we repurchase shares in the open market and also enter into structured repurchase agreements with third-parties .', 'authorization to repurchase shares to cover on-going dilution was not subject to expiration .', 'however , this repurchase program was limited to covering net dilution from stock issuances and was subject to business conditions and cash flow requirements as determined by our board of directors from time to time .', 'during the third quarter of fiscal 2010 , our board of directors approved an amendment to our stock repurchase program authorized in april 2007 from a non-expiring share-based authority to a time-constrained dollar-based authority .', 'as part of this amendment , the board of directors granted authority to repurchase up to $ 1.6 billion in common stock through the end of fiscal 2012 .', 'during the second quarter of fiscal 2012 , we exhausted our $ 1.6 billion authority granted by our board of directors in fiscal in april 2012 , the board of directors approved a new stock repurchase program granting authority to repurchase up to $ 2.0 billion in common stock through the end of fiscal 2015 .', 'the new stock repurchase program approved by our board of directors is similar to our previous $ 1.6 billion stock repurchase program .', 'during fiscal 2012 , 2011 and 2010 , we entered into several structured repurchase agreements with large financial institutions , whereupon we provided the financial institutions with prepayments totaling $ 405.0 million , $ 695.0 million and $ 850 million , respectively .', 'of the $ 405.0 million of prepayments during fiscal 2012 , $ 100.0 million was under the new $ 2.0 billion stock repurchase program and the remaining $ 305.0 million was under our previous $ 1.6 billion authority .', 'of the $ 850.0 million of prepayments during fiscal 2010 , $ 250.0 million was under the stock repurchase program prior to the program amendment in the third quarter of fiscal 2010 and the remaining $ 600.0 million was under the amended $ 1.6 billion time-constrained dollar-based authority .', 'we enter into these agreements in order to take advantage of repurchasing shares at a guaranteed discount to the volume weighted average price ( 201cvwap 201d ) of our common stock over a specified period of time .', 'we only enter into such transactions when the discount that we receive is higher than the foregone return on our cash prepayments to the financial institutions .', 'there were no explicit commissions or fees on these structured repurchases .', 'under the terms of the agreements , there is no requirement for the financial institutions to return any portion of the prepayment to us .', 'the financial institutions agree to deliver shares to us at monthly intervals during the contract term .', 'the parameters used to calculate the number of shares deliverable are : the total notional amount of the contract , the number of trading days in the contract , the number of trading days in the interval and the average vwap of our stock during the interval less the agreed upon discount .', 'during fiscal 2012 , we repurchased approximately 11.5 million shares at an average price of $ 32.29 through structured repurchase agreements entered into during fiscal 2012 .', 'during fiscal 2011 , we repurchased approximately 21.8 million shares at an average price of $ 31.81 through structured repurchase agreements entered into during fiscal 2011 .', 'during fiscal 2010 , we repurchased approximately 31.2 million shares at an average price per share of $ 29.19 through structured repurchase agreements entered into during fiscal 2009 and fiscal 2010 .', 'for fiscal 2012 , 2011 and 2010 , the prepayments were classified as treasury stock on our consolidated balance sheets at the payment date , though only shares physically delivered to us by november 30 , 2012 , december 2 , 2011 and december 3 , 2010 were excluded from the computation of earnings per share .', 'as of november 30 , 2012 , $ 33.0 million of prepayments remained under these agreements .', 'as of december 2 , 2011 and december 3 , 2010 , no prepayments remained under these agreements .', 'table of contents adobe systems incorporated notes to consolidated financial statements ( continued ) .'] | | 2012 | 2011 | 2010
----------|----------|----------|----------
beginning balance | $ 10580 | $ 7632 | $ 10640
foreign currency translation adjustments | -2225 ( 2225 ) | 5156 | -4144 ( 4144 )
income tax effect relating to translation adjustments forundistributed foreign earnings | 1314 | -2208 ( 2208 ) | 1136
ending balance | $ 9669 | $ 10580 | $ 7632 | subtract(const_2, 1.6) | 0.4 |
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