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what was the ratio of the snap-on 2019s performance to that of the standard & poor 2019s 500 stock index in 2012 | Background: ['five-year stock performance graph the graph below illustrates the cumulative total shareholder return on snap-on common stock since december 31 , 2007 , assuming that dividends were reinvested .', 'the graph compares snap-on 2019s performance to that of the standard & poor 2019s 500 stock index ( 201cs&p 500 201d ) and a peer group .', 'snap-on incorporated total shareholder return ( 1 ) fiscal year ended ( 2 ) snap-on incorporated peer group ( 3 ) s&p 500 .']
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Data Table:
fiscal year ended ( 2 ) | snap-onincorporated | peer group ( 3 ) | s&p 500
----------|----------|----------|----------
december 31 2007 | $ 100.00 | $ 100.00 | $ 100.00
december 31 2008 | 83.66 | 66.15 | 63.00
december 31 2009 | 93.20 | 84.12 | 79.67
december 31 2010 | 128.21 | 112.02 | 91.67
december 31 2011 | 117.47 | 109.70 | 93.61
december 31 2012 | 187.26 | 129.00 | 108.59
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Additional Information: ['( 1 ) assumes $ 100 was invested on december 31 , 2007 , and that dividends were reinvested quarterly .', "( 2 ) the company's fiscal year ends on the saturday that is on or nearest to december 31 of each year ; for ease of calculation , the fiscal year end is assumed to be december 31 .", '( 3 ) the peer group consists of : stanley black & decker , inc. , danaher corporation , emerson electric co. , genuine parts company , newell rubbermaid inc. , pentair ltd. , spx corporation and w.w .', 'grainger , inc .', 'cooper industries plc , a former member of the peer group , was removed , as it was acquired by a larger , non-comparable company in 2012 .', '2012 annual report 23 snap-on incorporated peer group s&p 500 2007 2008 201120102009 2012 .'] | 1.72447 | SNA/2012/page_33.pdf-3 | ['five-year stock performance graph the graph below illustrates the cumulative total shareholder return on snap-on common stock since december 31 , 2007 , assuming that dividends were reinvested .', 'the graph compares snap-on 2019s performance to that of the standard & poor 2019s 500 stock index ( 201cs&p 500 201d ) and a peer group .', 'snap-on incorporated total shareholder return ( 1 ) fiscal year ended ( 2 ) snap-on incorporated peer group ( 3 ) s&p 500 .'] | ['( 1 ) assumes $ 100 was invested on december 31 , 2007 , and that dividends were reinvested quarterly .', "( 2 ) the company's fiscal year ends on the saturday that is on or nearest to december 31 of each year ; for ease of calculation , the fiscal year end is assumed to be december 31 .", '( 3 ) the peer group consists of : stanley black & decker , inc. , danaher corporation , emerson electric co. , genuine parts company , newell rubbermaid inc. , pentair ltd. , spx corporation and w.w .', 'grainger , inc .', 'cooper industries plc , a former member of the peer group , was removed , as it was acquired by a larger , non-comparable company in 2012 .', '2012 annual report 23 snap-on incorporated peer group s&p 500 2007 2008 201120102009 2012 .'] | fiscal year ended ( 2 ) | snap-onincorporated | peer group ( 3 ) | s&p 500
----------|----------|----------|----------
december 31 2007 | $ 100.00 | $ 100.00 | $ 100.00
december 31 2008 | 83.66 | 66.15 | 63.00
december 31 2009 | 93.20 | 84.12 | 79.67
december 31 2010 | 128.21 | 112.02 | 91.67
december 31 2011 | 117.47 | 109.70 | 93.61
december 31 2012 | 187.26 | 129.00 | 108.59 | divide(187.26, 108.59) | 1.72447 |
of the two acquisitions , was the purchase price of the hardy acquisition greater than the mondavi acquisition? | Context: ['mondavi produces , markets and sells premium , super-premium and fine california wines under the woodbridge by robert mondavi , robert mondavi private selection and robert mondavi winery brand names .', 'woodbridge and robert mondavi private selection are the leading premium and super-premium wine brands by volume , respectively , in the united states .', 'the acquisition of robert mondavi supports the company 2019s strategy of strengthening the breadth of its portfolio across price segments to capitalize on the overall growth in the pre- mium , super-premium and fine wine categories .', 'the company believes that the acquired robert mondavi brand names have strong brand recognition globally .', 'the vast majority of robert mondavi 2019s sales are generated in the united states .', 'the company intends to leverage the robert mondavi brands in the united states through its selling , marketing and distribution infrastructure .', 'the company also intends to further expand distribution for the robert mondavi brands in europe through its constellation europe infrastructure .', 'the company and robert mondavi have complementary busi- nesses that share a common growth orientation and operating philosophy .', 'the robert mondavi acquisition provides the company with a greater presence in the fine wine sector within the united states and the ability to capitalize on the broader geographic distribution in strategic international markets .', 'the robert mondavi acquisition supports the company 2019s strategy of growth and breadth across categories and geographies , and strengthens its competitive position in its core markets .', 'in par- ticular , the company believes there are growth opportunities for premium , super-premium and fine wines in the united kingdom , united states and other wine markets .', 'total consid- eration paid in cash to the robert mondavi shareholders was $ 1030.7 million .', 'additionally , the company expects to incur direct acquisition costs of $ 11.2 million .', 'the purchase price was financed with borrowings under the company 2019s 2004 credit agreement ( as defined in note 9 ) .', 'in accordance with the pur- chase method of accounting , the acquired net assets are recorded at fair value at the date of acquisition .', 'the purchase price was based primarily on the estimated future operating results of robert mondavi , including the factors described above , as well as an estimated benefit from operating cost synergies .', 'the results of operations of the robert mondavi business are reported in the constellation wines segment and have been included in the consolidated statement of income since the acquisition date .', 'the following table summarizes the estimated fair values of the assets acquired and liabilities assumed in the robert mondavi acquisition at the date of acquisition .', 'the company is in the process of obtaining third-party valuations of certain assets and liabilities , and refining its restructuring plan which is under development and will be finalized during the company 2019s year ending february 28 , 2006 ( see note19 ) .', 'accordingly , the allocation of the purchase price is subject to refinement .', 'estimated fair values at december 22 , 2004 , are as follows : {in thousands} .']
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Data Table:
current assets | $ 494788
property plant and equipment | 452902
other assets | 178823
trademarks | 186000
goodwill | 590459
total assets acquired | 1902972
current liabilities | 309051
long-term liabilities | 552060
total liabilities acquired | 861111
net assets acquired | $ 1041861
----
Follow-up: ['the trademarks are not subject to amortization .', 'none of the goodwill is expected to be deductible for tax purposes .', 'in connection with the robert mondavi acquisition and robert mondavi 2019s previously disclosed intention to sell certain of its winery properties and related assets , and other vineyard prop- erties , the company has classified certain assets as held for sale as of february 28 , 2005 .', 'the company expects to sell these assets during the year ended february 28 , 2006 , for net pro- ceeds of approximately $ 150 million to $ 175 million .', 'no gain or loss is expected to be recognized upon the sale of these assets .', 'hardy acquisition 2013 on march 27 , 2003 , the company acquired control of brl hardy limited , now known as hardy wine company limited ( 201chardy 201d ) , and on april 9 , 2003 , the company completed its acquisition of all of hardy 2019s outstanding capital stock .', 'as a result of the acquisition of hardy , the company also acquired the remaining 50% ( 50 % ) ownership of pacific wine partners llc ( 201cpwp 201d ) , the joint venture the company established with hardy in july 2001 .', 'the acquisition of hardy along with the remaining interest in pwp is referred to together as the 201chardy acquisition . 201d through this acquisition , the company acquired one of australia 2019s largest wine producers with interests in winer- ies and vineyards in most of australia 2019s major wine regions as well as new zealand and the united states and hardy 2019s market- ing and sales operations in the united kingdom .', 'total consideration paid in cash and class a common stock to the hardy shareholders was $ 1137.4 million .', 'additionally , the company recorded direct acquisition costs of $ 17.2 million .', 'the acquisition date for accounting purposes is march 27 , 2003 .', 'the company has recorded a $ 1.6 million reduction in the purchase price to reflect imputed interest between the accounting acquisition date and the final payment of consider- ation .', 'this charge is included as interest expense in the consolidated statement of income for the year ended february 29 , 2004 .', 'the cash portion of the purchase price paid to the hardy shareholders and optionholders ( $ 1060.2 mil- lion ) was financed with $ 660.2 million of borrowings under the company 2019s then existing credit agreement and $ 400.0 million .'] | yes | STZ/2005/page_57.pdf-1 | ['mondavi produces , markets and sells premium , super-premium and fine california wines under the woodbridge by robert mondavi , robert mondavi private selection and robert mondavi winery brand names .', 'woodbridge and robert mondavi private selection are the leading premium and super-premium wine brands by volume , respectively , in the united states .', 'the acquisition of robert mondavi supports the company 2019s strategy of strengthening the breadth of its portfolio across price segments to capitalize on the overall growth in the pre- mium , super-premium and fine wine categories .', 'the company believes that the acquired robert mondavi brand names have strong brand recognition globally .', 'the vast majority of robert mondavi 2019s sales are generated in the united states .', 'the company intends to leverage the robert mondavi brands in the united states through its selling , marketing and distribution infrastructure .', 'the company also intends to further expand distribution for the robert mondavi brands in europe through its constellation europe infrastructure .', 'the company and robert mondavi have complementary busi- nesses that share a common growth orientation and operating philosophy .', 'the robert mondavi acquisition provides the company with a greater presence in the fine wine sector within the united states and the ability to capitalize on the broader geographic distribution in strategic international markets .', 'the robert mondavi acquisition supports the company 2019s strategy of growth and breadth across categories and geographies , and strengthens its competitive position in its core markets .', 'in par- ticular , the company believes there are growth opportunities for premium , super-premium and fine wines in the united kingdom , united states and other wine markets .', 'total consid- eration paid in cash to the robert mondavi shareholders was $ 1030.7 million .', 'additionally , the company expects to incur direct acquisition costs of $ 11.2 million .', 'the purchase price was financed with borrowings under the company 2019s 2004 credit agreement ( as defined in note 9 ) .', 'in accordance with the pur- chase method of accounting , the acquired net assets are recorded at fair value at the date of acquisition .', 'the purchase price was based primarily on the estimated future operating results of robert mondavi , including the factors described above , as well as an estimated benefit from operating cost synergies .', 'the results of operations of the robert mondavi business are reported in the constellation wines segment and have been included in the consolidated statement of income since the acquisition date .', 'the following table summarizes the estimated fair values of the assets acquired and liabilities assumed in the robert mondavi acquisition at the date of acquisition .', 'the company is in the process of obtaining third-party valuations of certain assets and liabilities , and refining its restructuring plan which is under development and will be finalized during the company 2019s year ending february 28 , 2006 ( see note19 ) .', 'accordingly , the allocation of the purchase price is subject to refinement .', 'estimated fair values at december 22 , 2004 , are as follows : {in thousands} .'] | ['the trademarks are not subject to amortization .', 'none of the goodwill is expected to be deductible for tax purposes .', 'in connection with the robert mondavi acquisition and robert mondavi 2019s previously disclosed intention to sell certain of its winery properties and related assets , and other vineyard prop- erties , the company has classified certain assets as held for sale as of february 28 , 2005 .', 'the company expects to sell these assets during the year ended february 28 , 2006 , for net pro- ceeds of approximately $ 150 million to $ 175 million .', 'no gain or loss is expected to be recognized upon the sale of these assets .', 'hardy acquisition 2013 on march 27 , 2003 , the company acquired control of brl hardy limited , now known as hardy wine company limited ( 201chardy 201d ) , and on april 9 , 2003 , the company completed its acquisition of all of hardy 2019s outstanding capital stock .', 'as a result of the acquisition of hardy , the company also acquired the remaining 50% ( 50 % ) ownership of pacific wine partners llc ( 201cpwp 201d ) , the joint venture the company established with hardy in july 2001 .', 'the acquisition of hardy along with the remaining interest in pwp is referred to together as the 201chardy acquisition . 201d through this acquisition , the company acquired one of australia 2019s largest wine producers with interests in winer- ies and vineyards in most of australia 2019s major wine regions as well as new zealand and the united states and hardy 2019s market- ing and sales operations in the united kingdom .', 'total consideration paid in cash and class a common stock to the hardy shareholders was $ 1137.4 million .', 'additionally , the company recorded direct acquisition costs of $ 17.2 million .', 'the acquisition date for accounting purposes is march 27 , 2003 .', 'the company has recorded a $ 1.6 million reduction in the purchase price to reflect imputed interest between the accounting acquisition date and the final payment of consider- ation .', 'this charge is included as interest expense in the consolidated statement of income for the year ended february 29 , 2004 .', 'the cash portion of the purchase price paid to the hardy shareholders and optionholders ( $ 1060.2 mil- lion ) was financed with $ 660.2 million of borrowings under the company 2019s then existing credit agreement and $ 400.0 million .'] | current assets | $ 494788
property plant and equipment | 452902
other assets | 178823
trademarks | 186000
goodwill | 590459
total assets acquired | 1902972
current liabilities | 309051
long-term liabilities | 552060
total liabilities acquired | 861111
net assets acquired | $ 1041861 | greater(1137.4, 1030.7) | yes |
what is the income to capital ratio for bermuda subsidiaries in 2009? | Context: ['n o t e s t o t h e c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s ( continued ) ace limited and subsidiaries 20 .', 'statutory financial information the company 2019s insurance and reinsurance subsidiaries are subject to insurance laws and regulations in the jurisdictions in which they operate .', 'these regulations include restrictions that limit the amount of dividends or other distributions , such as loans or cash advances , available to shareholders without prior approval of the insurance regulatory authorities .', 'there are no statutory restrictions on the payment of dividends from retained earnings by any of the bermuda subsidiaries as the minimum statutory capital and surplus requirements are satisfied by the share capital and additional paid-in capital of each of the bermuda subsidiaries .', 'the company 2019s u.s .', 'subsidiaries file financial statements prepared in accordance with statutory accounting practices prescribed or permitted by insurance regulators .', 'statutory accounting differs from gaap in the reporting of certain reinsurance contracts , investments , subsidiaries , acquis- ition expenses , fixed assets , deferred income taxes , and certain other items .', 'the statutory capital and surplus of the u.s .', 'subsidiaries met regulatory requirements for 2009 , 2008 , and 2007 .', 'the amount of dividends available to be paid in 2010 , without prior approval from the state insurance departments , totals $ 733 million .', 'the combined statutory capital and surplus and statutory net income of the bermuda and u.s .', 'subsidiaries as at and for the years ended december 31 , 2009 , 2008 , and 2007 , are as follows: .']
------
Table:
----------------------------------------
( in millions of u.s . dollars ) | bermuda subsidiaries 2009 | bermuda subsidiaries 2008 | bermuda subsidiaries 2007 | bermuda subsidiaries 2009 | bermuda subsidiaries 2008 | 2007
----------|----------|----------|----------|----------|----------|----------
statutory capital and surplus | $ 9299 | $ 6205 | $ 8579 | $ 5801 | $ 5368 | $ 5321
statutory net income | $ 2472 | $ 2196 | $ 1535 | $ 870 | $ 818 | $ 873
----------------------------------------
------
Follow-up: ['as permitted by the restructuring discussed previously in note 7 , certain of the company 2019s u.s .', 'subsidiaries discount certain a&e liabilities , which increased statutory capital and surplus by approximately $ 215 million , $ 211 million , and $ 140 million at december 31 , 2009 , 2008 , and 2007 , respectively .', 'the company 2019s international subsidiaries prepare statutory financial statements based on local laws and regulations .', 'some jurisdictions impose complex regulatory requirements on insurance companies while other jurisdictions impose fewer requirements .', 'in some countries , the company must obtain licenses issued by governmental authorities to conduct local insurance business .', 'these licenses may be subject to reserves and minimum capital and solvency tests .', 'jurisdictions may impose fines , censure , and/or criminal sanctions for violation of regulatory requirements .', '21 .', 'information provided in connection with outstanding debt of subsidiaries the following tables present condensed consolidating financial information at december 31 , 2009 , and december 31 , 2008 , and for the years ended december 31 , 2009 , 2008 , and 2007 , for ace limited ( the parent guarantor ) and its 201csubsidiary issuer 201d , ace ina holdings , inc .', 'the subsidiary issuer is an indirect 100 percent-owned subsidiary of the parent guarantor .', 'investments in subsidiaries are accounted for by the parent guarantor under the equity method for purposes of the supplemental consolidating presentation .', 'earnings of subsidiaries are reflected in the parent guarantor 2019s investment accounts and earnings .', 'the parent guarantor fully and unconditionally guarantees certain of the debt of the subsidiary issuer. .'] | 0.26584 | CB/2009/page_220.pdf-3 | ['n o t e s t o t h e c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s ( continued ) ace limited and subsidiaries 20 .', 'statutory financial information the company 2019s insurance and reinsurance subsidiaries are subject to insurance laws and regulations in the jurisdictions in which they operate .', 'these regulations include restrictions that limit the amount of dividends or other distributions , such as loans or cash advances , available to shareholders without prior approval of the insurance regulatory authorities .', 'there are no statutory restrictions on the payment of dividends from retained earnings by any of the bermuda subsidiaries as the minimum statutory capital and surplus requirements are satisfied by the share capital and additional paid-in capital of each of the bermuda subsidiaries .', 'the company 2019s u.s .', 'subsidiaries file financial statements prepared in accordance with statutory accounting practices prescribed or permitted by insurance regulators .', 'statutory accounting differs from gaap in the reporting of certain reinsurance contracts , investments , subsidiaries , acquis- ition expenses , fixed assets , deferred income taxes , and certain other items .', 'the statutory capital and surplus of the u.s .', 'subsidiaries met regulatory requirements for 2009 , 2008 , and 2007 .', 'the amount of dividends available to be paid in 2010 , without prior approval from the state insurance departments , totals $ 733 million .', 'the combined statutory capital and surplus and statutory net income of the bermuda and u.s .', 'subsidiaries as at and for the years ended december 31 , 2009 , 2008 , and 2007 , are as follows: .'] | ['as permitted by the restructuring discussed previously in note 7 , certain of the company 2019s u.s .', 'subsidiaries discount certain a&e liabilities , which increased statutory capital and surplus by approximately $ 215 million , $ 211 million , and $ 140 million at december 31 , 2009 , 2008 , and 2007 , respectively .', 'the company 2019s international subsidiaries prepare statutory financial statements based on local laws and regulations .', 'some jurisdictions impose complex regulatory requirements on insurance companies while other jurisdictions impose fewer requirements .', 'in some countries , the company must obtain licenses issued by governmental authorities to conduct local insurance business .', 'these licenses may be subject to reserves and minimum capital and solvency tests .', 'jurisdictions may impose fines , censure , and/or criminal sanctions for violation of regulatory requirements .', '21 .', 'information provided in connection with outstanding debt of subsidiaries the following tables present condensed consolidating financial information at december 31 , 2009 , and december 31 , 2008 , and for the years ended december 31 , 2009 , 2008 , and 2007 , for ace limited ( the parent guarantor ) and its 201csubsidiary issuer 201d , ace ina holdings , inc .', 'the subsidiary issuer is an indirect 100 percent-owned subsidiary of the parent guarantor .', 'investments in subsidiaries are accounted for by the parent guarantor under the equity method for purposes of the supplemental consolidating presentation .', 'earnings of subsidiaries are reflected in the parent guarantor 2019s investment accounts and earnings .', 'the parent guarantor fully and unconditionally guarantees certain of the debt of the subsidiary issuer. .'] | ----------------------------------------
( in millions of u.s . dollars ) | bermuda subsidiaries 2009 | bermuda subsidiaries 2008 | bermuda subsidiaries 2007 | bermuda subsidiaries 2009 | bermuda subsidiaries 2008 | 2007
----------|----------|----------|----------|----------|----------|----------
statutory capital and surplus | $ 9299 | $ 6205 | $ 8579 | $ 5801 | $ 5368 | $ 5321
statutory net income | $ 2472 | $ 2196 | $ 1535 | $ 870 | $ 818 | $ 873
---------------------------------------- | divide(2472, 9299) | 0.26584 |
what percentage of future minimum operating lease payments for leases with remaining terms greater than one year for each of the years in the five years ending december 31 , 2015 , and thereafter are due in 2012? | Pre-text: ['future minimum operating lease payments for leases with remaining terms greater than one year for each of the years in the five years ending december 31 , 2015 , and thereafter in the aggregate , are as follows ( in millions ) : .']
##
Table:
========================================
• 2011, $ 65.1
• 2012, 47.6
• 2013, 35.7
• 2014, 27.8
• 2015, 24.3
• thereafter, 78.1
• total, $ 278.6
========================================
##
Post-table: ['in addition , the company has operating lease commitments relating to office equipment and computer hardware with annual lease payments of approximately $ 16.3 million per year which renew on a short-term basis .', 'rent expense incurred under all operating leases during the years ended december 31 , 2010 , 2009 and 2008 was $ 116.1 million , $ 100.2 million and $ 117.0 million , respectively .', 'included in discontinued operations in the consolidated statements of earnings was rent expense of $ 2.0 million , $ 1.8 million and $ 17.0 million for the years ended december 31 , 2010 , 2009 and 2008 , respectively .', 'data processing and maintenance services agreements .', 'the company has agreements with various vendors , which expire between 2011 and 2017 , for portions of its computer data processing operations and related functions .', 'the company 2019s estimated aggregate contractual obligation remaining under these agreements was approximately $ 554.3 million as of december 31 , 2010 .', 'however , this amount could be more or less depending on various factors such as the inflation rate , foreign exchange rates , the introduction of significant new technologies , or changes in the company 2019s data processing needs .', '( 16 ) employee benefit plans stock purchase plan fis employees participate in an employee stock purchase plan ( espp ) .', 'eligible employees may voluntarily purchase , at current market prices , shares of fis 2019 common stock through payroll deductions .', 'pursuant to the espp , employees may contribute an amount between 3% ( 3 % ) and 15% ( 15 % ) of their base salary and certain commissions .', 'shares purchased are allocated to employees based upon their contributions .', 'the company contributes varying matching amounts as specified in the espp .', 'the company recorded an expense of $ 14.3 million , $ 12.4 million and $ 14.3 million , respectively , for the years ended december 31 , 2010 , 2009 and 2008 , relating to the participation of fis employees in the espp .', 'included in discontinued operations in the consolidated statements of earnings was expense of $ 0.1 million and $ 3.0 million for the years ended december 31 , 2009 and 2008 , respectively .', '401 ( k ) profit sharing plan the company 2019s employees are covered by a qualified 401 ( k ) plan .', 'eligible employees may contribute up to 40% ( 40 % ) of their pretax annual compensation , up to the amount allowed pursuant to the internal revenue code .', 'the company generally matches 50% ( 50 % ) of each dollar of employee contribution up to 6% ( 6 % ) of the employee 2019s total eligible compensation .', 'the company recorded expense of $ 23.1 million , $ 16.6 million and $ 18.5 million , respectively , for the years ended december 31 , 2010 , 2009 and 2008 , relating to the participation of fis employees in the 401 ( k ) plan .', 'included in discontinued operations in the consolidated statements of earnings was expense of $ 0.1 million and $ 3.9 million for the years ended december 31 , 2009 and 2008 , respectively .', 'fidelity national information services , inc .', 'and subsidiaries notes to consolidated financial statements 2014 ( continued ) %%transmsg*** transmitting job : g26369 pcn : 083000000 ***%%pcmsg|83 |00006|yes|no|03/28/2011 17:32|0|0|page is valid , no graphics -- color : n| .'] | 0.17085 | FIS/2010/page_89.pdf-4 | ['future minimum operating lease payments for leases with remaining terms greater than one year for each of the years in the five years ending december 31 , 2015 , and thereafter in the aggregate , are as follows ( in millions ) : .'] | ['in addition , the company has operating lease commitments relating to office equipment and computer hardware with annual lease payments of approximately $ 16.3 million per year which renew on a short-term basis .', 'rent expense incurred under all operating leases during the years ended december 31 , 2010 , 2009 and 2008 was $ 116.1 million , $ 100.2 million and $ 117.0 million , respectively .', 'included in discontinued operations in the consolidated statements of earnings was rent expense of $ 2.0 million , $ 1.8 million and $ 17.0 million for the years ended december 31 , 2010 , 2009 and 2008 , respectively .', 'data processing and maintenance services agreements .', 'the company has agreements with various vendors , which expire between 2011 and 2017 , for portions of its computer data processing operations and related functions .', 'the company 2019s estimated aggregate contractual obligation remaining under these agreements was approximately $ 554.3 million as of december 31 , 2010 .', 'however , this amount could be more or less depending on various factors such as the inflation rate , foreign exchange rates , the introduction of significant new technologies , or changes in the company 2019s data processing needs .', '( 16 ) employee benefit plans stock purchase plan fis employees participate in an employee stock purchase plan ( espp ) .', 'eligible employees may voluntarily purchase , at current market prices , shares of fis 2019 common stock through payroll deductions .', 'pursuant to the espp , employees may contribute an amount between 3% ( 3 % ) and 15% ( 15 % ) of their base salary and certain commissions .', 'shares purchased are allocated to employees based upon their contributions .', 'the company contributes varying matching amounts as specified in the espp .', 'the company recorded an expense of $ 14.3 million , $ 12.4 million and $ 14.3 million , respectively , for the years ended december 31 , 2010 , 2009 and 2008 , relating to the participation of fis employees in the espp .', 'included in discontinued operations in the consolidated statements of earnings was expense of $ 0.1 million and $ 3.0 million for the years ended december 31 , 2009 and 2008 , respectively .', '401 ( k ) profit sharing plan the company 2019s employees are covered by a qualified 401 ( k ) plan .', 'eligible employees may contribute up to 40% ( 40 % ) of their pretax annual compensation , up to the amount allowed pursuant to the internal revenue code .', 'the company generally matches 50% ( 50 % ) of each dollar of employee contribution up to 6% ( 6 % ) of the employee 2019s total eligible compensation .', 'the company recorded expense of $ 23.1 million , $ 16.6 million and $ 18.5 million , respectively , for the years ended december 31 , 2010 , 2009 and 2008 , relating to the participation of fis employees in the 401 ( k ) plan .', 'included in discontinued operations in the consolidated statements of earnings was expense of $ 0.1 million and $ 3.9 million for the years ended december 31 , 2009 and 2008 , respectively .', 'fidelity national information services , inc .', 'and subsidiaries notes to consolidated financial statements 2014 ( continued ) %%transmsg*** transmitting job : g26369 pcn : 083000000 ***%%pcmsg|83 |00006|yes|no|03/28/2011 17:32|0|0|page is valid , no graphics -- color : n| .'] | ========================================
• 2011, $ 65.1
• 2012, 47.6
• 2013, 35.7
• 2014, 27.8
• 2015, 24.3
• thereafter, 78.1
• total, $ 278.6
======================================== | divide(47.6, 278.6) | 0.17085 |
what percent of non-cancelable operating leases net of sublease income are due in less than one year? | Context: ['building .', 'the construction of the building was completed in december 2003 .', 'due to lower than expected financing and construction costs , the final lease balance was lowered to $ 103.0 million .', 'as part of the agreement , we entered into a five-year lease that began upon the completion of the building .', 'at the end of the lease term , we can purchase the building for the lease balance , remarket or relinquish the building .', 'if we choose to remarket or are required to do so upon relinquishing the building , we are bound to arrange the sale of the building to an unrelated party and will be required to pay the lessor any shortfall between the net remarketing proceeds and the lease balance , up to the maximum recourse amount of $ 90.8 million ( 201cresidual value guarantee 201d ) .', 'see note 14 in our notes to consolidated financial statements for further information .', 'in august 1999 , we entered into a five-year lease agreement for our other two office buildings that currently serve as our corporate headquarters in san jose , california .', 'under the agreement , we have the option to purchase the buildings at any time during the lease term for the lease balance , which is approximately $ 142.5 million .', 'we are in the process of evaluating alternative financing methods at expiration of the lease in fiscal 2004 and believe that several suitable financing options will be available to us .', 'at the end of the lease term , we can purchase the buildings for the lease balance , remarket or relinquish the buildings .', 'if we choose to remarket or are required to do so upon relinquishing the buildings , we are bound to arrange the sale of the buildings to an unrelated party and will be required to pay the lessor any shortfall between the net remarketing proceeds and the lease balance , up to the maximum recourse amount of $ 132.6 million ( 201cresidual value guarantee 201d ) .', 'for further information , see note 14 in our notes to consolidated financial statements .', 'the two lease agreements discussed above are subject to standard financial covenants .', 'the agreements limit the amount of indebtedness we can incur .', 'a leverage covenant requires us to keep our debt to ebitda ratio less than 2.5:1.0 .', 'as of november 28 , 2003 , our debt to ebitda ratio was 0.53:1.0 , well within the limit .', 'we also have a liquidity covenant which requires us to maintain a quick ratio equal to or greater than 1.0 .', 'as of november 28 , 2003 , our quick ratio was 2.2 , well above the minimum .', 'we expect to remain within compliance in the next 12 months .', 'we are comfortable with these limitations and believe they will not impact our cash or credit in the coming year or restrict our ability to execute our business plan .', 'the following table summarizes our contractual commitments as of november 28 , 2003 : less than over total 1 year 1 2013 3 years 3-5 years 5 years non-cancelable operating leases , net of sublease income ................ .', '$ 83.9 $ 23.6 $ 25.9 $ 16.3 $ 18.1 indemnifications in the normal course of business , we provide indemnifications of varying scope to customers against claims of intellectual property infringement made by third parties arising from the use of our products .', 'historically , costs related to these indemnification provisions have not been significant and we are unable to estimate the maximum potential impact of these indemnification provisions on our future results of operations .', 'we have commitments to make certain milestone and/or retention payments typically entered into in conjunction with various acquisitions , for which we have made accruals in our consolidated financial statements .', 'in connection with our purchases of technology assets during fiscal 2003 , we entered into employee retention agreements totaling $ 2.2 million .', 'we are required to make payments upon satisfaction of certain conditions in the agreements .', 'as permitted under delaware law , we have agreements whereby we indemnify our officers and directors for certain events or occurrences while the officer or director is , or was serving , at our request in such capacity .', 'the indemnification period covers all pertinent events and occurrences during the officer 2019s or director 2019s lifetime .', 'the maximum potential amount of future payments we could be required to make under these indemnification agreements is unlimited ; however , we have director and officer insurance coverage that limits our exposure and enables us to recover a portion of any future amounts paid .', 'we believe the estimated fair value of these indemnification agreements in excess of applicable insurance coverage is minimal. .']
--------
Table:
****************************************
, total, less than 1 year, 1-3 years, 3-5 years, over 5 years
non-cancelable operating leases net of sublease income, $ 83.9, $ 23.6, $ 25.9, $ 16.3, $ 18.1
****************************************
--------
Post-table: ['building .', 'the construction of the building was completed in december 2003 .', 'due to lower than expected financing and construction costs , the final lease balance was lowered to $ 103.0 million .', 'as part of the agreement , we entered into a five-year lease that began upon the completion of the building .', 'at the end of the lease term , we can purchase the building for the lease balance , remarket or relinquish the building .', 'if we choose to remarket or are required to do so upon relinquishing the building , we are bound to arrange the sale of the building to an unrelated party and will be required to pay the lessor any shortfall between the net remarketing proceeds and the lease balance , up to the maximum recourse amount of $ 90.8 million ( 201cresidual value guarantee 201d ) .', 'see note 14 in our notes to consolidated financial statements for further information .', 'in august 1999 , we entered into a five-year lease agreement for our other two office buildings that currently serve as our corporate headquarters in san jose , california .', 'under the agreement , we have the option to purchase the buildings at any time during the lease term for the lease balance , which is approximately $ 142.5 million .', 'we are in the process of evaluating alternative financing methods at expiration of the lease in fiscal 2004 and believe that several suitable financing options will be available to us .', 'at the end of the lease term , we can purchase the buildings for the lease balance , remarket or relinquish the buildings .', 'if we choose to remarket or are required to do so upon relinquishing the buildings , we are bound to arrange the sale of the buildings to an unrelated party and will be required to pay the lessor any shortfall between the net remarketing proceeds and the lease balance , up to the maximum recourse amount of $ 132.6 million ( 201cresidual value guarantee 201d ) .', 'for further information , see note 14 in our notes to consolidated financial statements .', 'the two lease agreements discussed above are subject to standard financial covenants .', 'the agreements limit the amount of indebtedness we can incur .', 'a leverage covenant requires us to keep our debt to ebitda ratio less than 2.5:1.0 .', 'as of november 28 , 2003 , our debt to ebitda ratio was 0.53:1.0 , well within the limit .', 'we also have a liquidity covenant which requires us to maintain a quick ratio equal to or greater than 1.0 .', 'as of november 28 , 2003 , our quick ratio was 2.2 , well above the minimum .', 'we expect to remain within compliance in the next 12 months .', 'we are comfortable with these limitations and believe they will not impact our cash or credit in the coming year or restrict our ability to execute our business plan .', 'the following table summarizes our contractual commitments as of november 28 , 2003 : less than over total 1 year 1 2013 3 years 3-5 years 5 years non-cancelable operating leases , net of sublease income ................ .', '$ 83.9 $ 23.6 $ 25.9 $ 16.3 $ 18.1 indemnifications in the normal course of business , we provide indemnifications of varying scope to customers against claims of intellectual property infringement made by third parties arising from the use of our products .', 'historically , costs related to these indemnification provisions have not been significant and we are unable to estimate the maximum potential impact of these indemnification provisions on our future results of operations .', 'we have commitments to make certain milestone and/or retention payments typically entered into in conjunction with various acquisitions , for which we have made accruals in our consolidated financial statements .', 'in connection with our purchases of technology assets during fiscal 2003 , we entered into employee retention agreements totaling $ 2.2 million .', 'we are required to make payments upon satisfaction of certain conditions in the agreements .', 'as permitted under delaware law , we have agreements whereby we indemnify our officers and directors for certain events or occurrences while the officer or director is , or was serving , at our request in such capacity .', 'the indemnification period covers all pertinent events and occurrences during the officer 2019s or director 2019s lifetime .', 'the maximum potential amount of future payments we could be required to make under these indemnification agreements is unlimited ; however , we have director and officer insurance coverage that limits our exposure and enables us to recover a portion of any future amounts paid .', 'we believe the estimated fair value of these indemnification agreements in excess of applicable insurance coverage is minimal. .'] | 0.28129 | ADBE/2003/page_90.pdf-1 | ['building .', 'the construction of the building was completed in december 2003 .', 'due to lower than expected financing and construction costs , the final lease balance was lowered to $ 103.0 million .', 'as part of the agreement , we entered into a five-year lease that began upon the completion of the building .', 'at the end of the lease term , we can purchase the building for the lease balance , remarket or relinquish the building .', 'if we choose to remarket or are required to do so upon relinquishing the building , we are bound to arrange the sale of the building to an unrelated party and will be required to pay the lessor any shortfall between the net remarketing proceeds and the lease balance , up to the maximum recourse amount of $ 90.8 million ( 201cresidual value guarantee 201d ) .', 'see note 14 in our notes to consolidated financial statements for further information .', 'in august 1999 , we entered into a five-year lease agreement for our other two office buildings that currently serve as our corporate headquarters in san jose , california .', 'under the agreement , we have the option to purchase the buildings at any time during the lease term for the lease balance , which is approximately $ 142.5 million .', 'we are in the process of evaluating alternative financing methods at expiration of the lease in fiscal 2004 and believe that several suitable financing options will be available to us .', 'at the end of the lease term , we can purchase the buildings for the lease balance , remarket or relinquish the buildings .', 'if we choose to remarket or are required to do so upon relinquishing the buildings , we are bound to arrange the sale of the buildings to an unrelated party and will be required to pay the lessor any shortfall between the net remarketing proceeds and the lease balance , up to the maximum recourse amount of $ 132.6 million ( 201cresidual value guarantee 201d ) .', 'for further information , see note 14 in our notes to consolidated financial statements .', 'the two lease agreements discussed above are subject to standard financial covenants .', 'the agreements limit the amount of indebtedness we can incur .', 'a leverage covenant requires us to keep our debt to ebitda ratio less than 2.5:1.0 .', 'as of november 28 , 2003 , our debt to ebitda ratio was 0.53:1.0 , well within the limit .', 'we also have a liquidity covenant which requires us to maintain a quick ratio equal to or greater than 1.0 .', 'as of november 28 , 2003 , our quick ratio was 2.2 , well above the minimum .', 'we expect to remain within compliance in the next 12 months .', 'we are comfortable with these limitations and believe they will not impact our cash or credit in the coming year or restrict our ability to execute our business plan .', 'the following table summarizes our contractual commitments as of november 28 , 2003 : less than over total 1 year 1 2013 3 years 3-5 years 5 years non-cancelable operating leases , net of sublease income ................ .', '$ 83.9 $ 23.6 $ 25.9 $ 16.3 $ 18.1 indemnifications in the normal course of business , we provide indemnifications of varying scope to customers against claims of intellectual property infringement made by third parties arising from the use of our products .', 'historically , costs related to these indemnification provisions have not been significant and we are unable to estimate the maximum potential impact of these indemnification provisions on our future results of operations .', 'we have commitments to make certain milestone and/or retention payments typically entered into in conjunction with various acquisitions , for which we have made accruals in our consolidated financial statements .', 'in connection with our purchases of technology assets during fiscal 2003 , we entered into employee retention agreements totaling $ 2.2 million .', 'we are required to make payments upon satisfaction of certain conditions in the agreements .', 'as permitted under delaware law , we have agreements whereby we indemnify our officers and directors for certain events or occurrences while the officer or director is , or was serving , at our request in such capacity .', 'the indemnification period covers all pertinent events and occurrences during the officer 2019s or director 2019s lifetime .', 'the maximum potential amount of future payments we could be required to make under these indemnification agreements is unlimited ; however , we have director and officer insurance coverage that limits our exposure and enables us to recover a portion of any future amounts paid .', 'we believe the estimated fair value of these indemnification agreements in excess of applicable insurance coverage is minimal. .'] | ['building .', 'the construction of the building was completed in december 2003 .', 'due to lower than expected financing and construction costs , the final lease balance was lowered to $ 103.0 million .', 'as part of the agreement , we entered into a five-year lease that began upon the completion of the building .', 'at the end of the lease term , we can purchase the building for the lease balance , remarket or relinquish the building .', 'if we choose to remarket or are required to do so upon relinquishing the building , we are bound to arrange the sale of the building to an unrelated party and will be required to pay the lessor any shortfall between the net remarketing proceeds and the lease balance , up to the maximum recourse amount of $ 90.8 million ( 201cresidual value guarantee 201d ) .', 'see note 14 in our notes to consolidated financial statements for further information .', 'in august 1999 , we entered into a five-year lease agreement for our other two office buildings that currently serve as our corporate headquarters in san jose , california .', 'under the agreement , we have the option to purchase the buildings at any time during the lease term for the lease balance , which is approximately $ 142.5 million .', 'we are in the process of evaluating alternative financing methods at expiration of the lease in fiscal 2004 and believe that several suitable financing options will be available to us .', 'at the end of the lease term , we can purchase the buildings for the lease balance , remarket or relinquish the buildings .', 'if we choose to remarket or are required to do so upon relinquishing the buildings , we are bound to arrange the sale of the buildings to an unrelated party and will be required to pay the lessor any shortfall between the net remarketing proceeds and the lease balance , up to the maximum recourse amount of $ 132.6 million ( 201cresidual value guarantee 201d ) .', 'for further information , see note 14 in our notes to consolidated financial statements .', 'the two lease agreements discussed above are subject to standard financial covenants .', 'the agreements limit the amount of indebtedness we can incur .', 'a leverage covenant requires us to keep our debt to ebitda ratio less than 2.5:1.0 .', 'as of november 28 , 2003 , our debt to ebitda ratio was 0.53:1.0 , well within the limit .', 'we also have a liquidity covenant which requires us to maintain a quick ratio equal to or greater than 1.0 .', 'as of november 28 , 2003 , our quick ratio was 2.2 , well above the minimum .', 'we expect to remain within compliance in the next 12 months .', 'we are comfortable with these limitations and believe they will not impact our cash or credit in the coming year or restrict our ability to execute our business plan .', 'the following table summarizes our contractual commitments as of november 28 , 2003 : less than over total 1 year 1 2013 3 years 3-5 years 5 years non-cancelable operating leases , net of sublease income ................ .', '$ 83.9 $ 23.6 $ 25.9 $ 16.3 $ 18.1 indemnifications in the normal course of business , we provide indemnifications of varying scope to customers against claims of intellectual property infringement made by third parties arising from the use of our products .', 'historically , costs related to these indemnification provisions have not been significant and we are unable to estimate the maximum potential impact of these indemnification provisions on our future results of operations .', 'we have commitments to make certain milestone and/or retention payments typically entered into in conjunction with various acquisitions , for which we have made accruals in our consolidated financial statements .', 'in connection with our purchases of technology assets during fiscal 2003 , we entered into employee retention agreements totaling $ 2.2 million .', 'we are required to make payments upon satisfaction of certain conditions in the agreements .', 'as permitted under delaware law , we have agreements whereby we indemnify our officers and directors for certain events or occurrences while the officer or director is , or was serving , at our request in such capacity .', 'the indemnification period covers all pertinent events and occurrences during the officer 2019s or director 2019s lifetime .', 'the maximum potential amount of future payments we could be required to make under these indemnification agreements is unlimited ; however , we have director and officer insurance coverage that limits our exposure and enables us to recover a portion of any future amounts paid .', 'we believe the estimated fair value of these indemnification agreements in excess of applicable insurance coverage is minimal. .'] | ****************************************
, total, less than 1 year, 1-3 years, 3-5 years, over 5 years
non-cancelable operating leases net of sublease income, $ 83.9, $ 23.6, $ 25.9, $ 16.3, $ 18.1
**************************************** | divide(23.6, 83.9) | 0.28129 |
what is the net change in the balance of accrual related to restructurings during 1999? | Pre-text: ['adobe systems incorporated notes to consolidated financial statements ( in thousands , except share and per share data ) ( continued ) note 7 .', 'restructuring and other charges ( continued ) previously announced restructuring programs the following table depicts the activity for previously announced restructuring programs through december 3 , 1999 : accrued accrued balance at balance at november 27 total cash december 3 1998 charges payments adjustments 1999 .']
######
Tabular Data:
----------------------------------------
, accrued balance at november 27 1998, total charges, cash payments, adjustments, accrued balance at december 3 1999
accrual related to previous restructurings, $ 8867, $ 2014, $ -6221 ( 6221 ), $ -1874 ( 1874 ), $ 772
----------------------------------------
######
Additional Information: ['as of december 3 , 1999 , approximately $ 0.8 million in accrued restructuring costs remain related to the company 2019s fiscal 1998 restructuring program .', 'this balance is comprised of $ 0.3 million in severance and related charges , $ 0.1 million in lease termination costs , and $ 0.4 million in canceled contracts .', 'the majority of the accrual is expected to be paid by the first quarter of fiscal 2000 .', 'cash payments for the twelve months ended december 3 , 1999 related to the fiscal 1998 restructuring were $ 0.7 million , $ 3.6 million , and $ 0.4 million for severance and related charges , lease termination costs , and canceled contracts costs , respectively .', 'in addition , adjustments related to the fiscal 1998 restructuring were made during the year , which consisted of $ 0.4 million related to estimated lease termination costs and $ 0.3 mil- lion related to other charges .', 'included in the accrual balance as of november 27 , 1998 were lease termination costs related to previously announced restructuring programs in fiscal 1994 and 1995 .', 'cash payments for the twelve months ended december 3 , 1999 related to both restructuring programs were $ 1.5 million .', 'during the third and fourth quarters of fiscal 1999 , the company recorded adjustments to the accrual balance of approximately $ 1.2 million related to these programs .', 'an adjustment of $ 0.6 million was made in the third quarter of fiscal 1999 due to the company 2019s success in terminating a lease agreement earlier than the contract term specified .', 'in addition , $ 0.6 million was reduced from the restructuring accrual relating to expired lease termination costs for two facilities resulting from the merger with frame in fiscal 1995 .', 'as of december 3 , 1999 no accrual balances remain related to the aldus and frame mergers .', 'other charges during the third and fourth quarters of fiscal 1999 , the company recorded other charges of $ 8.4 million that were unusual in nature .', 'these charges included $ 2.0 million associated with the cancellation of a contract and $ 2.2 million for accelerated depreciation related to the adjustment of the useful life of certain assets as a result of decisions made by management as part of the restructuring program .', 'additionally , the company incurred a nonrecurring compensation charge totaling $ 2.6 million for a terminated employee and incurred consulting fees of $ 1.6 million to assist in the restructuring of the company 2019s operations. .'] | -8095.0 | ADBE/1999/page_64.pdf-3 | ['adobe systems incorporated notes to consolidated financial statements ( in thousands , except share and per share data ) ( continued ) note 7 .', 'restructuring and other charges ( continued ) previously announced restructuring programs the following table depicts the activity for previously announced restructuring programs through december 3 , 1999 : accrued accrued balance at balance at november 27 total cash december 3 1998 charges payments adjustments 1999 .'] | ['as of december 3 , 1999 , approximately $ 0.8 million in accrued restructuring costs remain related to the company 2019s fiscal 1998 restructuring program .', 'this balance is comprised of $ 0.3 million in severance and related charges , $ 0.1 million in lease termination costs , and $ 0.4 million in canceled contracts .', 'the majority of the accrual is expected to be paid by the first quarter of fiscal 2000 .', 'cash payments for the twelve months ended december 3 , 1999 related to the fiscal 1998 restructuring were $ 0.7 million , $ 3.6 million , and $ 0.4 million for severance and related charges , lease termination costs , and canceled contracts costs , respectively .', 'in addition , adjustments related to the fiscal 1998 restructuring were made during the year , which consisted of $ 0.4 million related to estimated lease termination costs and $ 0.3 mil- lion related to other charges .', 'included in the accrual balance as of november 27 , 1998 were lease termination costs related to previously announced restructuring programs in fiscal 1994 and 1995 .', 'cash payments for the twelve months ended december 3 , 1999 related to both restructuring programs were $ 1.5 million .', 'during the third and fourth quarters of fiscal 1999 , the company recorded adjustments to the accrual balance of approximately $ 1.2 million related to these programs .', 'an adjustment of $ 0.6 million was made in the third quarter of fiscal 1999 due to the company 2019s success in terminating a lease agreement earlier than the contract term specified .', 'in addition , $ 0.6 million was reduced from the restructuring accrual relating to expired lease termination costs for two facilities resulting from the merger with frame in fiscal 1995 .', 'as of december 3 , 1999 no accrual balances remain related to the aldus and frame mergers .', 'other charges during the third and fourth quarters of fiscal 1999 , the company recorded other charges of $ 8.4 million that were unusual in nature .', 'these charges included $ 2.0 million associated with the cancellation of a contract and $ 2.2 million for accelerated depreciation related to the adjustment of the useful life of certain assets as a result of decisions made by management as part of the restructuring program .', 'additionally , the company incurred a nonrecurring compensation charge totaling $ 2.6 million for a terminated employee and incurred consulting fees of $ 1.6 million to assist in the restructuring of the company 2019s operations. .'] | ----------------------------------------
, accrued balance at november 27 1998, total charges, cash payments, adjustments, accrued balance at december 3 1999
accrual related to previous restructurings, $ 8867, $ 2014, $ -6221 ( 6221 ), $ -1874 ( 1874 ), $ 772
---------------------------------------- | subtract(772, 8867) | -8095.0 |
in millions , what was total outstanding for interest only products plus principal and interest products? | Background: ['brokered home equity lines of credit ) .', 'as part of our overall risk analysis and monitoring , we segment the home equity portfolio based upon the loan delinquency , modification status and bankruptcy status , as well as the delinquency , modification status and bankruptcy status of any mortgage loan with the same borrower ( regardless of whether it is a first lien senior to our second lien ) .', 'in establishing our alll for non-impaired loans , we utilize a delinquency roll-rate methodology for pools of loans .', 'the roll-rate methodology estimates transition/roll of loan balances from one delinquency state to the next delinquency state and ultimately to charge-off .', 'the roll through to charge-off is based on our actual loss experience for each type of pool .', 'each of our home equity pools contains both first and second liens .', 'our experience has been that the ratio of first to second lien loans has been consistent over time and the charge-off amounts for the pools , used to establish our allowance , include losses on both first and second lien loans .', 'generally , our variable-rate home equity lines of credit have either a seven or ten year draw period , followed by a 20-year amortization term .', 'during the draw period , we have home equity lines of credit where borrowers pay either interest only or principal and interest .', 'we view home equity lines of credit where borrowers are paying principal and interest under the draw period as less risky than those where the borrowers are paying interest only , as these borrowers have a demonstrated ability to make some level of principal and interest payments .', 'the risk associated with the borrower 2019s ability to satisfy the loan terms upon the draw period ending is considered in establishing our alll .', 'based upon outstanding balances at december 31 , 2016 , the following table presents the periods when home equity lines of credit draw periods are scheduled to end .', 'table 18 : home equity lines of credit 2013 draw period end in millions interest only product principal and interest product .']
----
Table:
in millions | interest onlyproduct | principal andinterest product
2017 | $ 1657 | $ 434
2018 | 796 | 636
2019 | 546 | 483
2020 | 442 | 434
2021 and thereafter | 2960 | 6438
total ( a ) ( b ) | $ 6401 | $ 8425
----
Additional Information: ['( a ) includes all home equity lines of credit that mature in 2017 or later , including those with borrowers where we have terminated borrowing privileges .', '( b ) includes home equity lines of credit with balloon payments , including those where we have terminated borrowing privileges , of $ 35 million , $ 27 million , $ 20 million , $ 71 million and $ 416 million with draw periods scheduled to end in 2017 , 2018 , 2019 , 2020 and 2021 and thereafter , respectively .', 'based upon outstanding balances , and excluding purchased impaired loans , at december 31 , 2016 , for home equity lines of credit for which the borrower can no longer draw ( e.g. , draw period has ended or borrowing privileges have been terminated ) , approximately 3% ( 3 % ) were 30-89 days past due and approximately 6% ( 6 % ) were 90 days or more past due , which are accounted for as nonperforming .', 'generally , when a borrower becomes 60 days past due , we terminate borrowing privileges and those privileges are not subsequently reinstated .', 'at that point , we continue our collection/recovery processes , which may include loan modification resulting in a loan that is classified as a tdr .', 'auto loan portfolio the auto loan portfolio totaled $ 12.4 billion as of december 31 , 2016 , or 6% ( 6 % ) of our total loan portfolio .', 'of that total , $ 10.8 billion resides in the indirect auto portfolio , $ 1.3 billion in the direct auto portfolio , and $ .3 billion in acquired or securitized portfolios , which has been declining as no pools have been recently acquired .', 'indirect auto loan applications are generated from franchised automobile dealers .', 'this business is strategically aligned with our core retail business .', 'we have elected not to pursue non-prime auto lending as evidenced by an average new loan origination fico score during 2016 of 760 for indirect auto loans and 775 for direct auto loans .', 'as of december 31 , 2016 , .4% ( .4 % ) of our auto loan portfolio was nonperforming and .5% ( .5 % ) of the portfolio was accruing past due .', 'we offer both new and used automobile financing to customers through our various channels .', 'the portfolio was composed of 57% ( 57 % ) new vehicle loans and 43% ( 43 % ) used vehicle loans at december 31 , 2016 .', 'the auto loan portfolio 2019s performance is measured monthly , including updated collateral values that are obtained monthly and updated fico scores that are obtained at least quarterly .', 'for internal reporting and risk management , we analyze the portfolio by product channel and product type , and regularly evaluate default and delinquency experience .', 'as part of our overall risk analysis and monitoring , we segment the portfolio by loan structure , collateral attributes , and credit metrics which include fico score , loan-to-value and term .', 'energy related loan portfolio our portfolio of loans outstanding in the oil and gas industry totaled $ 2.4 billion as of december 31 , 2016 , or 1% ( 1 % ) of our total loan portfolio and 2% ( 2 % ) of our total commercial lending portfolio .', 'this portfolio comprised approximately $ 1.0 billion in the midstream and downstream sectors , $ .8 billion to oil services companies and $ .6 billion to upstream sectors .', 'of the oil services portfolio , approximately $ .2 billion is not asset- based or investment grade .', 'nonperforming loans in the oil and gas sector as of december 31 , 2016 totaled $ 184 million , or 8% ( 8 % ) of total nonperforming assets .', 'our portfolio of loans outstanding in the coal industry totaled $ .4 billion as of december 31 , 2016 , or less than 1% ( 1 % ) of both our total loan portfolio and our total commercial lending portfolio .', 'nonperforming loans in the coal industry as of december 31 , 2016 totaled $ 61 million , or 3% ( 3 % ) of total nonperforming assets .', 'the pnc financial services group , inc .', '2013 form 10-k 57 .'] | 14826.0 | PNC/2016/page_73.pdf-1 | ['brokered home equity lines of credit ) .', 'as part of our overall risk analysis and monitoring , we segment the home equity portfolio based upon the loan delinquency , modification status and bankruptcy status , as well as the delinquency , modification status and bankruptcy status of any mortgage loan with the same borrower ( regardless of whether it is a first lien senior to our second lien ) .', 'in establishing our alll for non-impaired loans , we utilize a delinquency roll-rate methodology for pools of loans .', 'the roll-rate methodology estimates transition/roll of loan balances from one delinquency state to the next delinquency state and ultimately to charge-off .', 'the roll through to charge-off is based on our actual loss experience for each type of pool .', 'each of our home equity pools contains both first and second liens .', 'our experience has been that the ratio of first to second lien loans has been consistent over time and the charge-off amounts for the pools , used to establish our allowance , include losses on both first and second lien loans .', 'generally , our variable-rate home equity lines of credit have either a seven or ten year draw period , followed by a 20-year amortization term .', 'during the draw period , we have home equity lines of credit where borrowers pay either interest only or principal and interest .', 'we view home equity lines of credit where borrowers are paying principal and interest under the draw period as less risky than those where the borrowers are paying interest only , as these borrowers have a demonstrated ability to make some level of principal and interest payments .', 'the risk associated with the borrower 2019s ability to satisfy the loan terms upon the draw period ending is considered in establishing our alll .', 'based upon outstanding balances at december 31 , 2016 , the following table presents the periods when home equity lines of credit draw periods are scheduled to end .', 'table 18 : home equity lines of credit 2013 draw period end in millions interest only product principal and interest product .'] | ['( a ) includes all home equity lines of credit that mature in 2017 or later , including those with borrowers where we have terminated borrowing privileges .', '( b ) includes home equity lines of credit with balloon payments , including those where we have terminated borrowing privileges , of $ 35 million , $ 27 million , $ 20 million , $ 71 million and $ 416 million with draw periods scheduled to end in 2017 , 2018 , 2019 , 2020 and 2021 and thereafter , respectively .', 'based upon outstanding balances , and excluding purchased impaired loans , at december 31 , 2016 , for home equity lines of credit for which the borrower can no longer draw ( e.g. , draw period has ended or borrowing privileges have been terminated ) , approximately 3% ( 3 % ) were 30-89 days past due and approximately 6% ( 6 % ) were 90 days or more past due , which are accounted for as nonperforming .', 'generally , when a borrower becomes 60 days past due , we terminate borrowing privileges and those privileges are not subsequently reinstated .', 'at that point , we continue our collection/recovery processes , which may include loan modification resulting in a loan that is classified as a tdr .', 'auto loan portfolio the auto loan portfolio totaled $ 12.4 billion as of december 31 , 2016 , or 6% ( 6 % ) of our total loan portfolio .', 'of that total , $ 10.8 billion resides in the indirect auto portfolio , $ 1.3 billion in the direct auto portfolio , and $ .3 billion in acquired or securitized portfolios , which has been declining as no pools have been recently acquired .', 'indirect auto loan applications are generated from franchised automobile dealers .', 'this business is strategically aligned with our core retail business .', 'we have elected not to pursue non-prime auto lending as evidenced by an average new loan origination fico score during 2016 of 760 for indirect auto loans and 775 for direct auto loans .', 'as of december 31 , 2016 , .4% ( .4 % ) of our auto loan portfolio was nonperforming and .5% ( .5 % ) of the portfolio was accruing past due .', 'we offer both new and used automobile financing to customers through our various channels .', 'the portfolio was composed of 57% ( 57 % ) new vehicle loans and 43% ( 43 % ) used vehicle loans at december 31 , 2016 .', 'the auto loan portfolio 2019s performance is measured monthly , including updated collateral values that are obtained monthly and updated fico scores that are obtained at least quarterly .', 'for internal reporting and risk management , we analyze the portfolio by product channel and product type , and regularly evaluate default and delinquency experience .', 'as part of our overall risk analysis and monitoring , we segment the portfolio by loan structure , collateral attributes , and credit metrics which include fico score , loan-to-value and term .', 'energy related loan portfolio our portfolio of loans outstanding in the oil and gas industry totaled $ 2.4 billion as of december 31 , 2016 , or 1% ( 1 % ) of our total loan portfolio and 2% ( 2 % ) of our total commercial lending portfolio .', 'this portfolio comprised approximately $ 1.0 billion in the midstream and downstream sectors , $ .8 billion to oil services companies and $ .6 billion to upstream sectors .', 'of the oil services portfolio , approximately $ .2 billion is not asset- based or investment grade .', 'nonperforming loans in the oil and gas sector as of december 31 , 2016 totaled $ 184 million , or 8% ( 8 % ) of total nonperforming assets .', 'our portfolio of loans outstanding in the coal industry totaled $ .4 billion as of december 31 , 2016 , or less than 1% ( 1 % ) of both our total loan portfolio and our total commercial lending portfolio .', 'nonperforming loans in the coal industry as of december 31 , 2016 totaled $ 61 million , or 3% ( 3 % ) of total nonperforming assets .', 'the pnc financial services group , inc .', '2013 form 10-k 57 .'] | in millions | interest onlyproduct | principal andinterest product
2017 | $ 1657 | $ 434
2018 | 796 | 636
2019 | 546 | 483
2020 | 442 | 434
2021 and thereafter | 2960 | 6438
total ( a ) ( b ) | $ 6401 | $ 8425 | add(6401, 8425) | 14826.0 |
what was the change in millions in settlements between 2017 and 2016? | Pre-text: ['the company 2019s 2017 reported tax rate includes $ 160.9 million of net tax benefits associated with the tax act , $ 6.2 million of net tax benefits on special gains and charges , and net tax benefits of $ 25.3 million associated with discrete tax items .', 'in connection with the company 2019s initial analysis of the impact of the tax act , as noted above , a provisional net discrete tax benefit of $ 160.9 million was recorded in the period ended december 31 , 2017 , which includes $ 321.0 million tax benefit for recording deferred tax assets and liabilities at the u.s .', 'enacted tax rate , and a net expense for the one-time transition tax of $ 160.1 million .', 'while the company was able to make an estimate of the impact of the reduction in the u.s .', 'rate on deferred tax assets and liabilities and the one-time transition tax , it may be affected by other analyses related to the tax act , as indicated above .', 'special ( gains ) and charges represent the tax impact of special ( gains ) and charges , as well as additional tax benefits utilized in anticipation of u.s .', 'tax reform of $ 7.8 million .', 'during 2017 , the company recorded a discrete tax benefit of $ 39.7 million related to excess tax benefits , resulting from the adoption of accounting changes regarding the treatment of tax benefits on share-based compensation .', 'the extent of excess tax benefits is subject to variation in stock price and stock option exercises .', 'in addition , the company recorded net discrete expenses of $ 14.4 million related to recognizing adjustments from filing the 2016 u.s .', 'federal income tax return and international adjustments due to changes in estimates , partially offset by the release of reserves for uncertain tax positions due to the expiration of statute of limitations in state tax matters .', 'during 2016 , the company recognized net expense related to discrete tax items of $ 3.9 million .', 'the net expenses were driven primarily by recognizing adjustments from filing the company 2019s 2015 u.s .', 'federal income tax return , partially offset by settlement of international tax matters and remeasurement of certain deferred tax assets and liabilities resulting from the application of updated tax rates in international jurisdictions .', 'net expense was also impacted by adjustments to deferred tax asset and liability positions and the release of reserves for uncertain tax positions due to the expiration of statute of limitations in non-u.s .', 'jurisdictions .', 'during 2015 , the company recognized net benefits related to discrete tax items of $ 63.3 million .', 'the net benefits were driven primarily by the release of $ 20.6 million of valuation allowances , based on the realizability of foreign deferred tax assets and the ability to recognize a worthless stock deduction of $ 39.0 million for the tax basis in a wholly-owned domestic subsidiary .', 'a reconciliation of the beginning and ending amount of gross liability for unrecognized tax benefits is as follows: .']
########
Table:
( millions ) 2017 2016 2015
balance at beginning of year $ 75.9 $ 74.6 $ 78.7
additions based on tax positions related to the current year 3.2 8.8 5.8
additions for tax positions of prior years - 2.1 0.9
reductions for tax positions of prior years -4.9 ( 4.9 ) -1.0 ( 1.0 ) -8.8 ( 8.8 )
reductions for tax positions due to statute of limitations -14.0 ( 14.0 ) -5.5 ( 5.5 ) -1.6 ( 1.6 )
settlements -10.8 ( 10.8 ) -2.0 ( 2.0 ) -4.2 ( 4.2 )
assumed in connection with acquisitions 10.0 - 8.0
foreign currency translation 2.1 -1.1 ( 1.1 ) -4.2 ( 4.2 )
balance at end of year $ 61.5 $ 75.9 $ 74.6
########
Follow-up: ['the total amount of unrecognized tax benefits , if recognized would have affected the effective tax rate by $ 47.1 million as of december 31 , 2017 , $ 57.5 million as of december 31 , 2016 and $ 59.2 million as of december 31 , 2015 .', 'the company recognizes interest and penalties related to unrecognized tax benefits in its provision for income taxes .', 'during 2017 , 2016 and 2015 the company released $ 0.9 million , $ 2.9 million and $ 1.4 million related to interest and penalties , respectively .', 'the company had $ 9.3 million , $ 10.2 million and $ 13.1 million of accrued interest , including minor amounts for penalties , at december 31 , 2017 , 2016 , and 2015 , respectively. .'] | 8.8 | ECL/2017/page_95.pdf-1 | ['the company 2019s 2017 reported tax rate includes $ 160.9 million of net tax benefits associated with the tax act , $ 6.2 million of net tax benefits on special gains and charges , and net tax benefits of $ 25.3 million associated with discrete tax items .', 'in connection with the company 2019s initial analysis of the impact of the tax act , as noted above , a provisional net discrete tax benefit of $ 160.9 million was recorded in the period ended december 31 , 2017 , which includes $ 321.0 million tax benefit for recording deferred tax assets and liabilities at the u.s .', 'enacted tax rate , and a net expense for the one-time transition tax of $ 160.1 million .', 'while the company was able to make an estimate of the impact of the reduction in the u.s .', 'rate on deferred tax assets and liabilities and the one-time transition tax , it may be affected by other analyses related to the tax act , as indicated above .', 'special ( gains ) and charges represent the tax impact of special ( gains ) and charges , as well as additional tax benefits utilized in anticipation of u.s .', 'tax reform of $ 7.8 million .', 'during 2017 , the company recorded a discrete tax benefit of $ 39.7 million related to excess tax benefits , resulting from the adoption of accounting changes regarding the treatment of tax benefits on share-based compensation .', 'the extent of excess tax benefits is subject to variation in stock price and stock option exercises .', 'in addition , the company recorded net discrete expenses of $ 14.4 million related to recognizing adjustments from filing the 2016 u.s .', 'federal income tax return and international adjustments due to changes in estimates , partially offset by the release of reserves for uncertain tax positions due to the expiration of statute of limitations in state tax matters .', 'during 2016 , the company recognized net expense related to discrete tax items of $ 3.9 million .', 'the net expenses were driven primarily by recognizing adjustments from filing the company 2019s 2015 u.s .', 'federal income tax return , partially offset by settlement of international tax matters and remeasurement of certain deferred tax assets and liabilities resulting from the application of updated tax rates in international jurisdictions .', 'net expense was also impacted by adjustments to deferred tax asset and liability positions and the release of reserves for uncertain tax positions due to the expiration of statute of limitations in non-u.s .', 'jurisdictions .', 'during 2015 , the company recognized net benefits related to discrete tax items of $ 63.3 million .', 'the net benefits were driven primarily by the release of $ 20.6 million of valuation allowances , based on the realizability of foreign deferred tax assets and the ability to recognize a worthless stock deduction of $ 39.0 million for the tax basis in a wholly-owned domestic subsidiary .', 'a reconciliation of the beginning and ending amount of gross liability for unrecognized tax benefits is as follows: .'] | ['the total amount of unrecognized tax benefits , if recognized would have affected the effective tax rate by $ 47.1 million as of december 31 , 2017 , $ 57.5 million as of december 31 , 2016 and $ 59.2 million as of december 31 , 2015 .', 'the company recognizes interest and penalties related to unrecognized tax benefits in its provision for income taxes .', 'during 2017 , 2016 and 2015 the company released $ 0.9 million , $ 2.9 million and $ 1.4 million related to interest and penalties , respectively .', 'the company had $ 9.3 million , $ 10.2 million and $ 13.1 million of accrued interest , including minor amounts for penalties , at december 31 , 2017 , 2016 , and 2015 , respectively. .'] | ( millions ) 2017 2016 2015
balance at beginning of year $ 75.9 $ 74.6 $ 78.7
additions based on tax positions related to the current year 3.2 8.8 5.8
additions for tax positions of prior years - 2.1 0.9
reductions for tax positions of prior years -4.9 ( 4.9 ) -1.0 ( 1.0 ) -8.8 ( 8.8 )
reductions for tax positions due to statute of limitations -14.0 ( 14.0 ) -5.5 ( 5.5 ) -1.6 ( 1.6 )
settlements -10.8 ( 10.8 ) -2.0 ( 2.0 ) -4.2 ( 4.2 )
assumed in connection with acquisitions 10.0 - 8.0
foreign currency translation 2.1 -1.1 ( 1.1 ) -4.2 ( 4.2 )
balance at end of year $ 61.5 $ 75.9 $ 74.6 | subtract(10.8, const_2) | 8.8 |
what is the percent change in net revenue between 2006 and 2007? | Context: ["entergy louisiana , llc management's financial discussion and analysis 2007 compared to 2006 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges ( credits ) .", 'following is an analysis of the change in net revenue comparing 2007 to 2006 .', 'amount ( in millions ) .']
--------
Data Table:
========================================
amount ( in millions )
2006 net revenue $ 942.1
base revenues 78.4
volume/weather 37.5
transmission revenue 9.2
purchased power capacity -80.0 ( 80.0 )
other 3.9
2007 net revenue $ 991.1
========================================
--------
Post-table: ['the base revenues variance is primarily due to increases effective september 2006 for the 2005 formula rate plan filing to recover lpsc-approved incremental deferred and ongoing capacity costs .', 'see "state and local rate regulation" below and note 2 to the financial statements for a discussion of the formula rate plan filing .', 'the volume/weather variance is due to increased electricity usage , including electricity sales during the unbilled service period .', 'billed retail electricity usage increased a total of 666 gwh in all sectors compared to 2006 .', 'see "critical accounting estimates" below and note 1 to the financial statements for further discussion of the accounting for unbilled revenues .', 'the transmission revenue variance is primarily due to higher rates .', 'the purchased power capacity variance is primarily due to higher purchased power capacity charges and the amortization of capacity charges effective september 2006 as a result of the formula rate plan filing in may 2006 .', 'a portion of the purchased power capacity costs is offset in base revenues due to a base rate increase implemented to recover incremental deferred and ongoing purchased power capacity charges , as mentioned above .', 'see "state and local rate regulation" below and note 2 to the financial statements for a discussion of the formula rate plan filing .', 'gross operating revenues , fuel , purchased power expenses , and other regulatory charges ( credits ) gross operating revenues increased primarily due to : an increase of $ 143.1 million in fuel cost recovery revenues due to higher fuel rates and usage ; an increase of $ 78.4 million in base revenues , as discussed above ; and an increase of $ 37.5 million related to volume/weather , as discussed above .', 'fuel and purchased power expenses increased primarily due to an increase in net area demand and an increase in deferred fuel expense as a result of higher fuel rates , as discussed above .', 'other regulatory credits decreased primarily due to the deferral of capacity charges in 2006 in addition to the amortization of these capacity charges in 2007 as a result of the may 2006 formula rate plan filing ( for the 2005 test year ) with the lpsc to recover such costs through base rates effective september 2006 .', 'see note 2 to the financial statements for a discussion of the formula rate plan and storm cost recovery filings with the lpsc. .'] | 0.05201 | ETR/2008/page_314.pdf-1 | ["entergy louisiana , llc management's financial discussion and analysis 2007 compared to 2006 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges ( credits ) .", 'following is an analysis of the change in net revenue comparing 2007 to 2006 .', 'amount ( in millions ) .'] | ['the base revenues variance is primarily due to increases effective september 2006 for the 2005 formula rate plan filing to recover lpsc-approved incremental deferred and ongoing capacity costs .', 'see "state and local rate regulation" below and note 2 to the financial statements for a discussion of the formula rate plan filing .', 'the volume/weather variance is due to increased electricity usage , including electricity sales during the unbilled service period .', 'billed retail electricity usage increased a total of 666 gwh in all sectors compared to 2006 .', 'see "critical accounting estimates" below and note 1 to the financial statements for further discussion of the accounting for unbilled revenues .', 'the transmission revenue variance is primarily due to higher rates .', 'the purchased power capacity variance is primarily due to higher purchased power capacity charges and the amortization of capacity charges effective september 2006 as a result of the formula rate plan filing in may 2006 .', 'a portion of the purchased power capacity costs is offset in base revenues due to a base rate increase implemented to recover incremental deferred and ongoing purchased power capacity charges , as mentioned above .', 'see "state and local rate regulation" below and note 2 to the financial statements for a discussion of the formula rate plan filing .', 'gross operating revenues , fuel , purchased power expenses , and other regulatory charges ( credits ) gross operating revenues increased primarily due to : an increase of $ 143.1 million in fuel cost recovery revenues due to higher fuel rates and usage ; an increase of $ 78.4 million in base revenues , as discussed above ; and an increase of $ 37.5 million related to volume/weather , as discussed above .', 'fuel and purchased power expenses increased primarily due to an increase in net area demand and an increase in deferred fuel expense as a result of higher fuel rates , as discussed above .', 'other regulatory credits decreased primarily due to the deferral of capacity charges in 2006 in addition to the amortization of these capacity charges in 2007 as a result of the may 2006 formula rate plan filing ( for the 2005 test year ) with the lpsc to recover such costs through base rates effective september 2006 .', 'see note 2 to the financial statements for a discussion of the formula rate plan and storm cost recovery filings with the lpsc. .'] | ========================================
amount ( in millions )
2006 net revenue $ 942.1
base revenues 78.4
volume/weather 37.5
transmission revenue 9.2
purchased power capacity -80.0 ( 80.0 )
other 3.9
2007 net revenue $ 991.1
======================================== | subtract(991.1, 942.1), divide(#0, 942.1) | 0.05201 |
for the sale of the 19 percent outside-operated interest in the corrib natural gas development offshore ireland , what is the total expected proceeds in millions? | Background: ['marathon oil corporation notes to consolidated financial statements company , l.l.c .', 'and odyssey pipeline l.l.c. , as well as certain other oil pipeline interests , including the eugene island pipeline system .', 'the value of this transaction is approximately $ 205 million , net of debt assumed by the buyer .', 'the carrying value of these assets was $ 38 million as of december 31 , 2011 .', 'this transaction closed on january 3 , 2012 .', 'burns point gas plant 2013 during the fourth quarter of 2011 , we sold our e&p segment 2019s 50 percent interest in the burns point gas plant , a cryogenic processing plant located in st .', 'mary parish , louisiana , for total consideration of $ 36 million and a pretax gain of $ 34 million was booked .', 'alaska lng facility 2013 during the third quarter of 2011 , we sold our integrated gas segment 2019s equity interest in a lng processing facility in alaska and a pretax gain on the transaction of $ 8 million was recorded .', 'dj basin 2013 in april 2011 , we assigned a 30 percent undivided working interest in our e&p segment 2019s approximately 180000 acres in the niobrara shale play located within the dj basin of southeast wyoming and northern colorado for total consideration of $ 270 million , recording a pretax gain of $ 37 million .', 'we remain operator of this jointly owned leasehold .', 'angola 2013 during 2010 , we closed the sale of a 20 percent outside-operated interest in our e&p segment 2019s production sharing contract and joint operating agreement in block 32 offshore angola .', 'we received net proceeds of $ 1.3 billion and recorded a pretax gain on the sale of $ 811 million .', 'we retained a 10 percent outside-operated interest in block 32 .', 'gudrun 2013 in march 2011 , we closed the sale of our outside-operated interests in the gudrun field development and the brynhild and eirin exploration areas offshore norway for net proceeds of $ 85 million , excluding working capital adjustments .', 'a $ 64 million pretax loss on this disposition was recorded in the fourth quarter 2010 .', 'gabon 2013 in december 2009 , we closed the sale of our operated fields offshore gabon , receiving net proceeds of $ 269 million , after closing adjustments .', 'a $ 232 million pretax gain on this disposition was reported in discontinued operations for 2009 .', 'permian basin 2013 in june 2009 , we closed the sale of our e&p segment 2019s operated and a portion of our outside- operated permian basin producing assets in new mexico and west texas for net proceeds after closing adjustments of $ 293 million .', 'a $ 196 million pretax gain on the sale was recorded .', 'ireland 2013 in april 2009 , we closed the sale of our operated properties in ireland for net proceeds of $ 84 million , after adjusting for cash held by the sold subsidiary .', 'a $ 158 million pretax gain on the sale was recorded .', 'as a result of this sale , we terminated our pension plan in ireland , incurring a charge of $ 18 million .', 'in june 2009 , we entered into an agreement to sell the subsidiary holding our 19 percent outside-operated interest in the corrib natural gas development offshore ireland .', 'an initial $ 100 million payment was received at closing .', 'additional fixed proceeds of $ 135 million will be received at the earlier of first commercial gas or december 31 , 2012 .', 'a $ 154 million impairment was recognized in discontinued operations in the second quarter of 2009 .', 'our irish and our gabonese businesses , which had been reported in our e&p segment , have been reported as discontinued operations in the consolidated statements of income and the consolidated statements of cash flows .', 'revenues and pretax income related to these businesses are shown in the table below .', '( in millions ) 2009 .']
Table:
****************************************
• ( in millions ), 2009
• revenues applicable to discontinued operations, $ 188
• pretax income from discontinued operations, $ 80
****************************************
Post-table: ['.'] | 235.0 | MRO/2011/page_73.pdf-1 | ['marathon oil corporation notes to consolidated financial statements company , l.l.c .', 'and odyssey pipeline l.l.c. , as well as certain other oil pipeline interests , including the eugene island pipeline system .', 'the value of this transaction is approximately $ 205 million , net of debt assumed by the buyer .', 'the carrying value of these assets was $ 38 million as of december 31 , 2011 .', 'this transaction closed on january 3 , 2012 .', 'burns point gas plant 2013 during the fourth quarter of 2011 , we sold our e&p segment 2019s 50 percent interest in the burns point gas plant , a cryogenic processing plant located in st .', 'mary parish , louisiana , for total consideration of $ 36 million and a pretax gain of $ 34 million was booked .', 'alaska lng facility 2013 during the third quarter of 2011 , we sold our integrated gas segment 2019s equity interest in a lng processing facility in alaska and a pretax gain on the transaction of $ 8 million was recorded .', 'dj basin 2013 in april 2011 , we assigned a 30 percent undivided working interest in our e&p segment 2019s approximately 180000 acres in the niobrara shale play located within the dj basin of southeast wyoming and northern colorado for total consideration of $ 270 million , recording a pretax gain of $ 37 million .', 'we remain operator of this jointly owned leasehold .', 'angola 2013 during 2010 , we closed the sale of a 20 percent outside-operated interest in our e&p segment 2019s production sharing contract and joint operating agreement in block 32 offshore angola .', 'we received net proceeds of $ 1.3 billion and recorded a pretax gain on the sale of $ 811 million .', 'we retained a 10 percent outside-operated interest in block 32 .', 'gudrun 2013 in march 2011 , we closed the sale of our outside-operated interests in the gudrun field development and the brynhild and eirin exploration areas offshore norway for net proceeds of $ 85 million , excluding working capital adjustments .', 'a $ 64 million pretax loss on this disposition was recorded in the fourth quarter 2010 .', 'gabon 2013 in december 2009 , we closed the sale of our operated fields offshore gabon , receiving net proceeds of $ 269 million , after closing adjustments .', 'a $ 232 million pretax gain on this disposition was reported in discontinued operations for 2009 .', 'permian basin 2013 in june 2009 , we closed the sale of our e&p segment 2019s operated and a portion of our outside- operated permian basin producing assets in new mexico and west texas for net proceeds after closing adjustments of $ 293 million .', 'a $ 196 million pretax gain on the sale was recorded .', 'ireland 2013 in april 2009 , we closed the sale of our operated properties in ireland for net proceeds of $ 84 million , after adjusting for cash held by the sold subsidiary .', 'a $ 158 million pretax gain on the sale was recorded .', 'as a result of this sale , we terminated our pension plan in ireland , incurring a charge of $ 18 million .', 'in june 2009 , we entered into an agreement to sell the subsidiary holding our 19 percent outside-operated interest in the corrib natural gas development offshore ireland .', 'an initial $ 100 million payment was received at closing .', 'additional fixed proceeds of $ 135 million will be received at the earlier of first commercial gas or december 31 , 2012 .', 'a $ 154 million impairment was recognized in discontinued operations in the second quarter of 2009 .', 'our irish and our gabonese businesses , which had been reported in our e&p segment , have been reported as discontinued operations in the consolidated statements of income and the consolidated statements of cash flows .', 'revenues and pretax income related to these businesses are shown in the table below .', '( in millions ) 2009 .'] | ['.'] | ****************************************
• ( in millions ), 2009
• revenues applicable to discontinued operations, $ 188
• pretax income from discontinued operations, $ 80
**************************************** | add(const_100, 135) | 235.0 |
what was the average net interest margin in% ( in % ) for 2009 and 2008.? | Pre-text: ['consolidated income statement review net income for 2009 was $ 2.4 billion and for 2008 was $ 914 million .', 'amounts for 2009 include operating results of national city and the fourth quarter impact of a $ 687 million after-tax gain related to blackrock 2019s acquisition of bgi .', 'increases in income statement comparisons to 2008 , except as noted , are primarily due to the operating results of national city .', 'our consolidated income statement is presented in item 8 of this report .', 'net interest income and net interest margin year ended december 31 dollars in millions 2009 2008 .']
----------
Tabular Data:
****************************************
• year ended december 31 dollars in millions, 2009, 2008
• net interest income, $ 9083, $ 3854
• net interest margin, 3.82% ( 3.82 % ), 3.37% ( 3.37 % )
****************************************
----------
Additional Information: ['changes in net interest income and margin result from the interaction of the volume and composition of interest-earning assets and related yields , interest-bearing liabilities and related rates paid , and noninterest-bearing sources of funding .', 'see statistical information 2013 analysis of year-to-year changes in net interest ( unaudited ) income and average consolidated balance sheet and net interest analysis in item 8 of this report for additional information .', 'higher net interest income for 2009 compared with 2008 reflected the increase in average interest-earning assets due to national city and the improvement in the net interest margin .', 'the net interest margin was 3.82% ( 3.82 % ) for 2009 and 3.37% ( 3.37 % ) for 2008 .', 'the following factors impacted the comparison : 2022 a decrease in the rate accrued on interest-bearing liabilities of 97 basis points .', 'the rate accrued on interest-bearing deposits , the largest component , decreased 107 basis points .', '2022 these factors were partially offset by a 45 basis point decrease in the yield on interest-earning assets .', 'the yield on loans , which represented the largest portion of our earning assets in 2009 , decreased 30 basis points .', '2022 in addition , the impact of noninterest-bearing sources of funding decreased 7 basis points .', 'for comparing to the broader market , the average federal funds rate was .16% ( .16 % ) for 2009 compared with 1.94% ( 1.94 % ) for 2008 .', 'we expect our net interest income for 2010 will likely be modestly lower as a result of cash recoveries on purchased impaired loans in 2009 and additional run-off of higher- yielding assets , which could be mitigated by rising interest rates .', 'this assumes our current expectations for interest rates and economic conditions 2013 we include our current economic assumptions underlying our forward-looking statements in the cautionary statement regarding forward-looking information section of this item 7 .', 'noninterest income summary noninterest income was $ 7.1 billion for 2009 and $ 2.4 billion for 2008 .', 'noninterest income for 2009 included the following : 2022 the gain on blackrock/bgi transaction of $ 1.076 billion , 2022 net credit-related other-than-temporary impairments ( otti ) on debt and equity securities of $ 577 million , 2022 net gains on sales of securities of $ 550 million , 2022 gains on hedging of residential mortgage servicing rights of $ 355 million , 2022 valuation and sale income related to our commercial mortgage loans held for sale , net of hedges , of $ 107 million , 2022 gains of $ 103 million related to our blackrock ltip shares adjustment in the first quarter , and net losses on private equity and alternative investments of $ 93 million .', 'noninterest income for 2008 included the following : 2022 net otti on debt and equity securities of $ 312 million , 2022 gains of $ 246 million related to our blackrock ltip shares adjustment , 2022 valuation and sale losses related to our commercial mortgage loans held for sale , net of hedges , of $ 197 million , 2022 impairment and other losses related to private equity and alternative investments of $ 180 million , 2022 income from hilliard lyons totaling $ 164 million , including the first quarter gain of $ 114 million from the sale of this business , 2022 net gains on sales of securities of $ 106 million , and 2022 a gain of $ 95 million related to the redemption of a portion of our visa class b common shares related to visa 2019s march 2008 initial public offering .', 'additional analysis asset management revenue increased $ 172 million to $ 858 million in 2009 , compared with $ 686 million in 2008 .', 'this increase reflected improving equity markets , new business generation and a shift in assets into higher yielding equity investments during the second half of 2009 .', 'assets managed totaled $ 103 billion at both december 31 , 2009 and 2008 , including the impact of national city .', 'the asset management group section of the business segments review section of this item 7 includes further discussion of assets under management .', 'consumer services fees totaled $ 1.290 billion in 2009 compared with $ 623 million in 2008 .', 'service charges on deposits totaled $ 950 million for 2009 and $ 372 million for 2008 .', 'both increases were primarily driven by the impact of the national city acquisition .', 'reduced consumer spending .'] | 3.595 | PNC/2009/page_31.pdf-5 | ['consolidated income statement review net income for 2009 was $ 2.4 billion and for 2008 was $ 914 million .', 'amounts for 2009 include operating results of national city and the fourth quarter impact of a $ 687 million after-tax gain related to blackrock 2019s acquisition of bgi .', 'increases in income statement comparisons to 2008 , except as noted , are primarily due to the operating results of national city .', 'our consolidated income statement is presented in item 8 of this report .', 'net interest income and net interest margin year ended december 31 dollars in millions 2009 2008 .'] | ['changes in net interest income and margin result from the interaction of the volume and composition of interest-earning assets and related yields , interest-bearing liabilities and related rates paid , and noninterest-bearing sources of funding .', 'see statistical information 2013 analysis of year-to-year changes in net interest ( unaudited ) income and average consolidated balance sheet and net interest analysis in item 8 of this report for additional information .', 'higher net interest income for 2009 compared with 2008 reflected the increase in average interest-earning assets due to national city and the improvement in the net interest margin .', 'the net interest margin was 3.82% ( 3.82 % ) for 2009 and 3.37% ( 3.37 % ) for 2008 .', 'the following factors impacted the comparison : 2022 a decrease in the rate accrued on interest-bearing liabilities of 97 basis points .', 'the rate accrued on interest-bearing deposits , the largest component , decreased 107 basis points .', '2022 these factors were partially offset by a 45 basis point decrease in the yield on interest-earning assets .', 'the yield on loans , which represented the largest portion of our earning assets in 2009 , decreased 30 basis points .', '2022 in addition , the impact of noninterest-bearing sources of funding decreased 7 basis points .', 'for comparing to the broader market , the average federal funds rate was .16% ( .16 % ) for 2009 compared with 1.94% ( 1.94 % ) for 2008 .', 'we expect our net interest income for 2010 will likely be modestly lower as a result of cash recoveries on purchased impaired loans in 2009 and additional run-off of higher- yielding assets , which could be mitigated by rising interest rates .', 'this assumes our current expectations for interest rates and economic conditions 2013 we include our current economic assumptions underlying our forward-looking statements in the cautionary statement regarding forward-looking information section of this item 7 .', 'noninterest income summary noninterest income was $ 7.1 billion for 2009 and $ 2.4 billion for 2008 .', 'noninterest income for 2009 included the following : 2022 the gain on blackrock/bgi transaction of $ 1.076 billion , 2022 net credit-related other-than-temporary impairments ( otti ) on debt and equity securities of $ 577 million , 2022 net gains on sales of securities of $ 550 million , 2022 gains on hedging of residential mortgage servicing rights of $ 355 million , 2022 valuation and sale income related to our commercial mortgage loans held for sale , net of hedges , of $ 107 million , 2022 gains of $ 103 million related to our blackrock ltip shares adjustment in the first quarter , and net losses on private equity and alternative investments of $ 93 million .', 'noninterest income for 2008 included the following : 2022 net otti on debt and equity securities of $ 312 million , 2022 gains of $ 246 million related to our blackrock ltip shares adjustment , 2022 valuation and sale losses related to our commercial mortgage loans held for sale , net of hedges , of $ 197 million , 2022 impairment and other losses related to private equity and alternative investments of $ 180 million , 2022 income from hilliard lyons totaling $ 164 million , including the first quarter gain of $ 114 million from the sale of this business , 2022 net gains on sales of securities of $ 106 million , and 2022 a gain of $ 95 million related to the redemption of a portion of our visa class b common shares related to visa 2019s march 2008 initial public offering .', 'additional analysis asset management revenue increased $ 172 million to $ 858 million in 2009 , compared with $ 686 million in 2008 .', 'this increase reflected improving equity markets , new business generation and a shift in assets into higher yielding equity investments during the second half of 2009 .', 'assets managed totaled $ 103 billion at both december 31 , 2009 and 2008 , including the impact of national city .', 'the asset management group section of the business segments review section of this item 7 includes further discussion of assets under management .', 'consumer services fees totaled $ 1.290 billion in 2009 compared with $ 623 million in 2008 .', 'service charges on deposits totaled $ 950 million for 2009 and $ 372 million for 2008 .', 'both increases were primarily driven by the impact of the national city acquisition .', 'reduced consumer spending .'] | ****************************************
• year ended december 31 dollars in millions, 2009, 2008
• net interest income, $ 9083, $ 3854
• net interest margin, 3.82% ( 3.82 % ), 3.37% ( 3.37 % )
**************************************** | add(3.82, 3.37), divide(#0, const_2) | 3.595 |
what would 2004 sales have been in the glass segment without the positive effects of foreign currency translation , in millions? | Pre-text: ['management 2019s discussion and analysis interest expense was $ 17 million less in 2004 than in 2003 reflecting the year over year reduction in debt of $ 316 million .', 'other charges declined $ 30 million in 2004 due to a combination of lower environmental remediation , legal and workers compensation expenses and the absence of certain 2003 charges .', 'other earnings were $ 28 million higher in 2004 due primarily to higher earnings from our equity affiliates .', 'the effective tax rate for 2004 was 30.29% ( 30.29 % ) compared to 34.76% ( 34.76 % ) for the full year 2003 .', 'the reduction in the rate for 2004 reflects the benefit of the subsidy offered pursuant to the medicare act not being subject to tax , the continued improvement in the geographical mix of non- u.s .', 'earnings and the favorable resolution during 2004 of matters related to two open u.s .', 'federal income tax years .', 'net income in 2004 totaled $ 683 million , an increase of $ 189 million over 2003 , and earnings per share 2013 diluted increased $ 1.06 to $ 3.95 per share .', 'results of business segments net sales operating income ( millions ) 2004 2003 2004 2003 ( 1 ) coatings $ 5275 $ 4835 $ 777 $ 719 .']
##########
Tabular Data:
****************************************
• ( millions ), net sales 2004, net sales 2003, net sales 2004, 2003 ( 1 )
• coatings, $ 5275, $ 4835, $ 777, $ 719
• glass, 2204, 2150, 169, 71
• chemicals, 2034, 1771, 291, 228
****************************************
##########
Follow-up: ['chemicals 2034 1771 291 228 ( 1 ) operating income by segment for 2003 has been revised to reflect a change in the allocation method for certain pension and other postretirement benefit costs in 2004 ( see note 22 , 201cbusiness segment information 201d , under item 8 of this form 10-k ) .', 'coatings sales increased $ 440 million or 9% ( 9 % ) in 2004 .', 'sales increased 6% ( 6 % ) from improved volumes across all our coatings businesses and 4% ( 4 % ) due to the positive effects of foreign currency translation , primarily from our european operations .', 'sales declined 1% ( 1 % ) due to lower selling prices , principally in our automotive business .', 'operating income increased $ 58 million in 2004 .', 'factors increasing operating income were the higher sales volume ( $ 135 million ) and the favorable effects of currency translation described above and improved manufacturing efficiencies of $ 20 million .', 'factors decreasing operating income were inflationary cost increases of $ 82 million and lower selling prices .', 'glass sales increased $ 54 million or 3% ( 3 % ) in 2004 .', 'sales increased 6% ( 6 % ) from improved volumes primarily from our performance glazings ( flat glass ) , fiber glass , and automotive original equipment businesses net of lower volumes in our automotive replacement glass business .', 'sales also increased 2% ( 2 % ) due to the positive effects of foreign currency translation , primarily from our european fiber glass operations .', 'sales declined 5% ( 5 % ) due to lower selling prices across all our glass businesses .', 'operating income in 2004 increased $ 98 million .', 'factors increasing operating income were improved manufacturing efficiencies of $ 110 million , higher sales volume ( $ 53 million ) described above , higher equity earnings and the gains on the sale/leaseback of precious metals of $ 19 million .', 'the principal factor decreasing operating income was lower selling prices .', 'fiber glass volumes were up 15% ( 15 % ) for the year , although pricing declined .', 'with the shift of electronic printed wiring board production to asia and the volume and pricing gains there , equity earnings from our joint venture serving that region grew in 2004 .', 'these factors combined with focused cost reductions and manufacturing efficiencies to improve the operating performance of this business , as we continue to position it for future growth in profitability .', 'chemicals sales increased $ 263 million or 15% ( 15 % ) in 2004 .', 'sales increased 10% ( 10 % ) from improved volumes in our commodity and specialty businesses and 4% ( 4 % ) due to higher selling prices for our commodity products .', 'sales also increased 1% ( 1 % ) due to the positive effects of foreign currency translation , primarily from our european operations .', 'operating income increased $ 63 million in 2004 .', 'factors increasing operating income were the higher selling prices for our commodity products and the higher sales volume ( $ 73 million ) described above , improved manufacturing efficiencies of $ 25 million and lower environmental expenses .', 'factors decreasing 2004 operating income were inflationary cost increases of $ 40 million and higher energy costs of $ 79 million .', 'other significant factors the company 2019s pension and other postretirement benefit costs for 2004 were $ 45 million lower than in 2003 .', 'this decrease reflects the market driven growth in pension plan assets that occurred in 2003 , the impact of the $ 140 million in cash contributed to the pension plans by the company in 2004 and the benefit of the subsidy offered pursuant to the medicare act , as discussed in note 12 , 201cpension and other postretirement benefits , 201d under item 8 of this form 10-k .', 'commitments and contingent liabilities , including environmental matters ppg is involved in a number of lawsuits and claims , both actual and potential , including some that it has asserted against others , in which substantial monetary damages are sought .', 'see item 3 , 201clegal proceedings 201d of this form 10-k and note 13 , 201ccommitments and contingent liabilities , 201d under item 8 of this form 10-k for a description of certain of these lawsuits , including a description of the proposed ppg settlement arrangement for asbestos claims announced on may 14 , 2002 .', 'as discussed in item 3 and note 13 , although the result of any future litigation of such lawsuits and claims is inherently unpredictable , management believes that , in the aggregate , the outcome of all lawsuits and claims involving ppg , including asbestos-related claims in the event the ppg settlement arrangement described in note 13 does not become effective , will not have a material effect on ppg 2019s consolidated financial position or liquidity ; however , any such outcome may be material to the results of operations of any particular period in which costs , if any , are recognized .', 'the company has been named as a defendant , along with various other co-defendants , in a number of antitrust lawsuits filed in federal and state courts .', 'these suits allege that ppg acted with competitors to fix prices and allocate markets in the flat glass and automotive refinish industries .', '22 2005 ppg annual report and form 10-k .'] | 2107.0 | PPG/2005/page_24.pdf-2 | ['management 2019s discussion and analysis interest expense was $ 17 million less in 2004 than in 2003 reflecting the year over year reduction in debt of $ 316 million .', 'other charges declined $ 30 million in 2004 due to a combination of lower environmental remediation , legal and workers compensation expenses and the absence of certain 2003 charges .', 'other earnings were $ 28 million higher in 2004 due primarily to higher earnings from our equity affiliates .', 'the effective tax rate for 2004 was 30.29% ( 30.29 % ) compared to 34.76% ( 34.76 % ) for the full year 2003 .', 'the reduction in the rate for 2004 reflects the benefit of the subsidy offered pursuant to the medicare act not being subject to tax , the continued improvement in the geographical mix of non- u.s .', 'earnings and the favorable resolution during 2004 of matters related to two open u.s .', 'federal income tax years .', 'net income in 2004 totaled $ 683 million , an increase of $ 189 million over 2003 , and earnings per share 2013 diluted increased $ 1.06 to $ 3.95 per share .', 'results of business segments net sales operating income ( millions ) 2004 2003 2004 2003 ( 1 ) coatings $ 5275 $ 4835 $ 777 $ 719 .'] | ['chemicals 2034 1771 291 228 ( 1 ) operating income by segment for 2003 has been revised to reflect a change in the allocation method for certain pension and other postretirement benefit costs in 2004 ( see note 22 , 201cbusiness segment information 201d , under item 8 of this form 10-k ) .', 'coatings sales increased $ 440 million or 9% ( 9 % ) in 2004 .', 'sales increased 6% ( 6 % ) from improved volumes across all our coatings businesses and 4% ( 4 % ) due to the positive effects of foreign currency translation , primarily from our european operations .', 'sales declined 1% ( 1 % ) due to lower selling prices , principally in our automotive business .', 'operating income increased $ 58 million in 2004 .', 'factors increasing operating income were the higher sales volume ( $ 135 million ) and the favorable effects of currency translation described above and improved manufacturing efficiencies of $ 20 million .', 'factors decreasing operating income were inflationary cost increases of $ 82 million and lower selling prices .', 'glass sales increased $ 54 million or 3% ( 3 % ) in 2004 .', 'sales increased 6% ( 6 % ) from improved volumes primarily from our performance glazings ( flat glass ) , fiber glass , and automotive original equipment businesses net of lower volumes in our automotive replacement glass business .', 'sales also increased 2% ( 2 % ) due to the positive effects of foreign currency translation , primarily from our european fiber glass operations .', 'sales declined 5% ( 5 % ) due to lower selling prices across all our glass businesses .', 'operating income in 2004 increased $ 98 million .', 'factors increasing operating income were improved manufacturing efficiencies of $ 110 million , higher sales volume ( $ 53 million ) described above , higher equity earnings and the gains on the sale/leaseback of precious metals of $ 19 million .', 'the principal factor decreasing operating income was lower selling prices .', 'fiber glass volumes were up 15% ( 15 % ) for the year , although pricing declined .', 'with the shift of electronic printed wiring board production to asia and the volume and pricing gains there , equity earnings from our joint venture serving that region grew in 2004 .', 'these factors combined with focused cost reductions and manufacturing efficiencies to improve the operating performance of this business , as we continue to position it for future growth in profitability .', 'chemicals sales increased $ 263 million or 15% ( 15 % ) in 2004 .', 'sales increased 10% ( 10 % ) from improved volumes in our commodity and specialty businesses and 4% ( 4 % ) due to higher selling prices for our commodity products .', 'sales also increased 1% ( 1 % ) due to the positive effects of foreign currency translation , primarily from our european operations .', 'operating income increased $ 63 million in 2004 .', 'factors increasing operating income were the higher selling prices for our commodity products and the higher sales volume ( $ 73 million ) described above , improved manufacturing efficiencies of $ 25 million and lower environmental expenses .', 'factors decreasing 2004 operating income were inflationary cost increases of $ 40 million and higher energy costs of $ 79 million .', 'other significant factors the company 2019s pension and other postretirement benefit costs for 2004 were $ 45 million lower than in 2003 .', 'this decrease reflects the market driven growth in pension plan assets that occurred in 2003 , the impact of the $ 140 million in cash contributed to the pension plans by the company in 2004 and the benefit of the subsidy offered pursuant to the medicare act , as discussed in note 12 , 201cpension and other postretirement benefits , 201d under item 8 of this form 10-k .', 'commitments and contingent liabilities , including environmental matters ppg is involved in a number of lawsuits and claims , both actual and potential , including some that it has asserted against others , in which substantial monetary damages are sought .', 'see item 3 , 201clegal proceedings 201d of this form 10-k and note 13 , 201ccommitments and contingent liabilities , 201d under item 8 of this form 10-k for a description of certain of these lawsuits , including a description of the proposed ppg settlement arrangement for asbestos claims announced on may 14 , 2002 .', 'as discussed in item 3 and note 13 , although the result of any future litigation of such lawsuits and claims is inherently unpredictable , management believes that , in the aggregate , the outcome of all lawsuits and claims involving ppg , including asbestos-related claims in the event the ppg settlement arrangement described in note 13 does not become effective , will not have a material effect on ppg 2019s consolidated financial position or liquidity ; however , any such outcome may be material to the results of operations of any particular period in which costs , if any , are recognized .', 'the company has been named as a defendant , along with various other co-defendants , in a number of antitrust lawsuits filed in federal and state courts .', 'these suits allege that ppg acted with competitors to fix prices and allocate markets in the flat glass and automotive refinish industries .', '22 2005 ppg annual report and form 10-k .'] | ****************************************
• ( millions ), net sales 2004, net sales 2003, net sales 2004, 2003 ( 1 )
• coatings, $ 5275, $ 4835, $ 777, $ 719
• glass, 2204, 2150, 169, 71
• chemicals, 2034, 1771, 291, 228
**************************************** | subtract(const_1, 2%), multiply(#0, 2150) | 2107.0 |
what was the average provision for interest and penalties for the period december 31 , 2015 to 2017 , in millions? | Pre-text: ['82 | 2017 form 10-k a reconciliation of the beginning and ending amount of gross unrecognized tax benefits for uncertain tax positions , including positions impacting only the timing of tax benefits , follows .', 'reconciliation of unrecognized tax benefits:1 years a0ended a0december a031 .']
Data Table:
----------------------------------------
( millions of dollars ) | years ended december 31 , 2017 | years ended december 31 , 2016
balance at january 1, | $ 1032 | $ 968
additions for tax positions related to current year | 270 | 73
additions for tax positions related to prior years | 20 | 55
reductions for tax positions related to prior years | -27 ( 27 ) | -36 ( 36 )
reductions for settlements2 | -9 ( 9 ) | -24 ( 24 )
reductions for expiration of statute of limitations | 2014 | -4 ( 4 )
balance at december 31, | $ 1286 | $ 1032
amount that if recognized would impact the effective tax rate | $ 1209 | $ 963
----------------------------------------
Additional Information: ['1 foreign currency impacts are included within each line as applicable .', '2 includes cash payment or other reduction of assets to settle liability .', 'we classify interest and penalties on income taxes as a component of the provision for income taxes .', 'we recognized a net provision for interest and penalties of $ 38 million , $ 34 million and $ 20 million during the years ended december 31 , 2017 , 2016 and 2015 , respectively .', 'the total amount of interest and penalties accrued was $ 157 million and $ 120 million as of december a031 , 2017 and 2016 , respectively .', 'on january 31 , 2018 , we received a revenue agent 2019s report from the irs indicating the end of the field examination of our u.s .', 'income tax returns for 2010 to 2012 .', 'in the audits of 2007 to 2012 including the impact of a loss carryback to 2005 , the irs has proposed to tax in the united states profits earned from certain parts transactions by csarl , based on the irs examination team 2019s application of the 201csubstance-over-form 201d or 201cassignment-of-income 201d judicial doctrines .', 'we are vigorously contesting the proposed increases to tax and penalties for these years of approximately $ 2.3 billion .', 'we believe that the relevant transactions complied with applicable tax laws and did not violate judicial doctrines .', 'we have filed u.s .', 'income tax returns on this same basis for years after 2012 .', 'based on the information currently available , we do not anticipate a significant increase or decrease to our unrecognized tax benefits for this matter within the next 12 months .', 'we currently believe the ultimate disposition of this matter will not have a material adverse effect on our consolidated financial position , liquidity or results of operations .', 'with the exception of a loss carryback to 2005 , tax years prior to 2007 are generally no longer subject to u.s .', 'tax assessment .', 'in our major non-u.s .', 'jurisdictions including australia , brazil , china , germany , japan , mexico , switzerland , singapore and the u.k. , tax years are typically subject to examination for three to ten years .', 'due to the uncertainty related to the timing and potential outcome of audits , we cannot estimate the range of reasonably possible change in unrecognized tax benefits in the next 12 months. .'] | 30.66667 | CAT/2017/page_103.pdf-1 | ['82 | 2017 form 10-k a reconciliation of the beginning and ending amount of gross unrecognized tax benefits for uncertain tax positions , including positions impacting only the timing of tax benefits , follows .', 'reconciliation of unrecognized tax benefits:1 years a0ended a0december a031 .'] | ['1 foreign currency impacts are included within each line as applicable .', '2 includes cash payment or other reduction of assets to settle liability .', 'we classify interest and penalties on income taxes as a component of the provision for income taxes .', 'we recognized a net provision for interest and penalties of $ 38 million , $ 34 million and $ 20 million during the years ended december 31 , 2017 , 2016 and 2015 , respectively .', 'the total amount of interest and penalties accrued was $ 157 million and $ 120 million as of december a031 , 2017 and 2016 , respectively .', 'on january 31 , 2018 , we received a revenue agent 2019s report from the irs indicating the end of the field examination of our u.s .', 'income tax returns for 2010 to 2012 .', 'in the audits of 2007 to 2012 including the impact of a loss carryback to 2005 , the irs has proposed to tax in the united states profits earned from certain parts transactions by csarl , based on the irs examination team 2019s application of the 201csubstance-over-form 201d or 201cassignment-of-income 201d judicial doctrines .', 'we are vigorously contesting the proposed increases to tax and penalties for these years of approximately $ 2.3 billion .', 'we believe that the relevant transactions complied with applicable tax laws and did not violate judicial doctrines .', 'we have filed u.s .', 'income tax returns on this same basis for years after 2012 .', 'based on the information currently available , we do not anticipate a significant increase or decrease to our unrecognized tax benefits for this matter within the next 12 months .', 'we currently believe the ultimate disposition of this matter will not have a material adverse effect on our consolidated financial position , liquidity or results of operations .', 'with the exception of a loss carryback to 2005 , tax years prior to 2007 are generally no longer subject to u.s .', 'tax assessment .', 'in our major non-u.s .', 'jurisdictions including australia , brazil , china , germany , japan , mexico , switzerland , singapore and the u.k. , tax years are typically subject to examination for three to ten years .', 'due to the uncertainty related to the timing and potential outcome of audits , we cannot estimate the range of reasonably possible change in unrecognized tax benefits in the next 12 months. .'] | ----------------------------------------
( millions of dollars ) | years ended december 31 , 2017 | years ended december 31 , 2016
balance at january 1, | $ 1032 | $ 968
additions for tax positions related to current year | 270 | 73
additions for tax positions related to prior years | 20 | 55
reductions for tax positions related to prior years | -27 ( 27 ) | -36 ( 36 )
reductions for settlements2 | -9 ( 9 ) | -24 ( 24 )
reductions for expiration of statute of limitations | 2014 | -4 ( 4 )
balance at december 31, | $ 1286 | $ 1032
amount that if recognized would impact the effective tax rate | $ 1209 | $ 963
---------------------------------------- | add(38, 34), add(20, #0), divide(#1, const_3) | 30.66667 |
what is the percent of ingalls backlog to the total sum of the backlogs | Context: ['december 2016 acquisition of camber and higher volumes in fleet support and oil and gas services , partially offset by lower nuclear and environmental volumes due to the resolution in 2016 of outstanding contract changes on a nuclear and environmental commercial contract .', 'segment operating income 2018 - operating income in the technical solutions segment for the year ended december 31 , 2018 , was $ 32 million , compared to operating income of $ 21 million in 2017 .', 'the increase was primarily due to an allowance for accounts receivable in 2017 on a nuclear and environmental commercial contract and higher income from operating investments at our nuclear and environmental joint ventures , partially offset by one time employee bonus payments in 2018 related to the tax act and lower performance in fleet support services .', '2017 - operating income in the technical solutions segment for the year ended december 31 , 2017 , was $ 21 million , compared to operating income of $ 8 million in 2016 .', 'the increase was primarily due to improved performance in oil and gas services and higher volume in mdis services following the december 2016 acquisition of camber , partially offset by the establishment of an allowance for accounts receivable on a nuclear and environmental commercial contract in 2017 and the resolution in 2016 of outstanding contract changes on a nuclear and environmental commercial contract .', 'backlog total backlog as of december 31 , 2018 , was approximately $ 23 billion .', 'total backlog includes both funded backlog ( firm orders for which funding is contractually obligated by the customer ) and unfunded backlog ( firm orders for which funding is not currently contractually obligated by the customer ) .', 'backlog excludes unexercised contract options and unfunded idiq orders .', 'for contracts having no stated contract values , backlog includes only the amounts committed by the customer .', 'the following table presents funded and unfunded backlog by segment as of december 31 , 2018 and 2017: .']
########
Tabular Data:
****************************************
• ( $ in millions ), december 31 2018 funded, december 31 2018 unfunded, december 31 2018 total backlog, december 31 2018 funded, december 31 2018 unfunded, total backlog
• ingalls, $ 9943, $ 1422, $ 11365, $ 5920, $ 2071, $ 7991
• newport news, 6767, 4144, 10911, 6976, 5608, 12584
• technical solutions, 339, 380, 719, 478, 314, 792
• total backlog, $ 17049, $ 5946, $ 22995, $ 13374, $ 7993, $ 21367
****************************************
########
Post-table: ['we expect approximately 30% ( 30 % ) of the $ 23 billion total backlog as of december 31 , 2018 , to be converted into sales in 2019 .', 'u.s .', 'government orders comprised substantially all of the backlog as of december 31 , 2018 and 2017 .', 'awards 2018 - the value of new contract awards during the year ended december 31 , 2018 , was approximately $ 9.8 billion .', 'significant new awards during the period included contracts for the construction of three arleigh burke class ( ddg 51 ) destroyers , for the detail design and construction of richard m .', 'mccool jr .', '( lpd 29 ) , for procurement of long-lead-time material for enterprise ( cvn 80 ) , and for the construction of nsc 10 ( unnamed ) and nsc 11 ( unnamed ) .', 'in addition , we received awards in 2019 valued at $ 15.2 billion for detail design and construction of the gerald r .', 'ford class ( cvn 78 ) aircraft carriers enterprise ( cvn 80 ) and cvn 81 ( unnamed ) .', '2017 - the value of new contract awards during the year ended december 31 , 2017 , was approximately $ 8.1 billion .', 'significant new awards during this period included the detailed design and construction contract for bougainville ( lha 8 ) and the execution contract for the rcoh of uss george washington ( cvn 73 ) . .'] | 0.37399 | HII/2018/page_64.pdf-3 | ['december 2016 acquisition of camber and higher volumes in fleet support and oil and gas services , partially offset by lower nuclear and environmental volumes due to the resolution in 2016 of outstanding contract changes on a nuclear and environmental commercial contract .', 'segment operating income 2018 - operating income in the technical solutions segment for the year ended december 31 , 2018 , was $ 32 million , compared to operating income of $ 21 million in 2017 .', 'the increase was primarily due to an allowance for accounts receivable in 2017 on a nuclear and environmental commercial contract and higher income from operating investments at our nuclear and environmental joint ventures , partially offset by one time employee bonus payments in 2018 related to the tax act and lower performance in fleet support services .', '2017 - operating income in the technical solutions segment for the year ended december 31 , 2017 , was $ 21 million , compared to operating income of $ 8 million in 2016 .', 'the increase was primarily due to improved performance in oil and gas services and higher volume in mdis services following the december 2016 acquisition of camber , partially offset by the establishment of an allowance for accounts receivable on a nuclear and environmental commercial contract in 2017 and the resolution in 2016 of outstanding contract changes on a nuclear and environmental commercial contract .', 'backlog total backlog as of december 31 , 2018 , was approximately $ 23 billion .', 'total backlog includes both funded backlog ( firm orders for which funding is contractually obligated by the customer ) and unfunded backlog ( firm orders for which funding is not currently contractually obligated by the customer ) .', 'backlog excludes unexercised contract options and unfunded idiq orders .', 'for contracts having no stated contract values , backlog includes only the amounts committed by the customer .', 'the following table presents funded and unfunded backlog by segment as of december 31 , 2018 and 2017: .'] | ['we expect approximately 30% ( 30 % ) of the $ 23 billion total backlog as of december 31 , 2018 , to be converted into sales in 2019 .', 'u.s .', 'government orders comprised substantially all of the backlog as of december 31 , 2018 and 2017 .', 'awards 2018 - the value of new contract awards during the year ended december 31 , 2018 , was approximately $ 9.8 billion .', 'significant new awards during the period included contracts for the construction of three arleigh burke class ( ddg 51 ) destroyers , for the detail design and construction of richard m .', 'mccool jr .', '( lpd 29 ) , for procurement of long-lead-time material for enterprise ( cvn 80 ) , and for the construction of nsc 10 ( unnamed ) and nsc 11 ( unnamed ) .', 'in addition , we received awards in 2019 valued at $ 15.2 billion for detail design and construction of the gerald r .', 'ford class ( cvn 78 ) aircraft carriers enterprise ( cvn 80 ) and cvn 81 ( unnamed ) .', '2017 - the value of new contract awards during the year ended december 31 , 2017 , was approximately $ 8.1 billion .', 'significant new awards during this period included the detailed design and construction contract for bougainville ( lha 8 ) and the execution contract for the rcoh of uss george washington ( cvn 73 ) . .'] | ****************************************
• ( $ in millions ), december 31 2018 funded, december 31 2018 unfunded, december 31 2018 total backlog, december 31 2018 funded, december 31 2018 unfunded, total backlog
• ingalls, $ 9943, $ 1422, $ 11365, $ 5920, $ 2071, $ 7991
• newport news, 6767, 4144, 10911, 6976, 5608, 12584
• technical solutions, 339, 380, 719, 478, 314, 792
• total backlog, $ 17049, $ 5946, $ 22995, $ 13374, $ 7993, $ 21367
**************************************** | divide(7991, 21367) | 0.37399 |
what is the net change in the balance of total amounts of uncertain tax positions from 2007 to 2009? | Background: ['included in other non-current liabilities , because the company believes that the ultimate payment or settlement of these liabilities will not occur within the next twelve months .', 'prior to the adoption of these provisions , these amounts were included in current income tax payable .', 'the company includes interest and penalties related to unrecognized tax benefits within the provision for taxes in the condensed consolidated statements of income , and as a result , no change in classification was made upon adopting these provisions .', 'the condensed consolidated statements of income for fiscal year 2009 and fiscal year 2008 include $ 1.7 million and $ 1.3 million , respectively , of interest and penalties related to these uncertain tax positions .', 'due to the complexity associated with its tax uncertainties , the company cannot make a reasonably reliable estimate as to the period in which it expects to settle the liabilities associated with these uncertain tax positions .', 'the following table summarizes the changes in the total amounts of uncertain tax positions for fiscal 2008 and fiscal 2009. .']
----------
Data Table:
========================================
Row 1: balance november 3 2007, $ 9889
Row 2: additions for tax positions of current year, 3861
Row 3: balance november 1 2008, 13750
Row 4: additions for tax positions of current year, 4411
Row 5: balance october 31 2009, $ 18161
========================================
----------
Additional Information: ['fiscal year 2004 and 2005 irs examination during the fourth quarter of fiscal 2007 , the irs completed its field examination of the company 2019s fiscal years 2004 and 2005 .', 'on january 2 , 2008 , the irs issued its report for fiscal 2004 and 2005 , which included proposed adjustments related to these two fiscal years .', 'the company has recorded taxes and penalties related to certain of these proposed adjustments .', 'there are four items with an additional potential total tax liability of $ 46 million .', 'the company has concluded , based on discussions with its tax advisors , that these four items are not likely to result in any additional tax liability .', 'therefore , the company has not recorded any additional tax liability for these items and is appealing these proposed adjustments through the normal processes for the resolution of differences between the irs and taxpayers .', 'the company 2019s initial meetings with the appellate division of the irs were held during fiscal year 2009 .', 'two of the unresolved matters are one-time issues and pertain to section 965 of the internal revenue code related to the beneficial tax treatment of dividends from foreign owned companies under the american jobs creation act .', 'the other matters pertain to the computation of research and development ( r&d ) tax credits and the profits earned from manufacturing activities carried on outside the united states .', 'these latter two matters could impact taxes payable for fiscal 2004 and 2005 as well as for subsequent years .', 'fiscal year 2006 and 2007 irs examination during the third quarter of fiscal 2009 , the irs completed its field examination of the company 2019s fiscal years 2006 and 2007 .', 'the irs and the company have agreed on the treatment of a number of issues that have been included in an issue resolutions agreement related to the 2006 and 2007 tax returns .', 'however , no agreement was reached on the tax treatment of a number of issues , including the same r&d credit and foreign manufacturing issues mentioned above related to fiscal 2004 and 2005 , the pricing of intercompany sales ( transfer pricing ) , and the deductibility of certain stock option compensation expenses .', 'during the third quarter of fiscal 2009 , the irs issued its report for fiscal 2006 and fiscal 2007 , which included proposed adjustments related to these two fiscal years .', 'the company has recorded taxes and penalties related to certain of these proposed adjustments .', 'there are four items with an additional potential total tax liability of $ 195 million .', 'the company concluded , based on discussions with its tax advisors , that these four items are not likely to result in any additional tax liability .', 'therefore , the company has not recorded any additional tax liability for these items and is appealing these proposed adjustments through the normal processes for the resolution of differences between the irs and taxpayers .', 'with the exception of the analog devices , inc .', 'notes to consolidated financial statements 2014 ( continued ) .'] | 8272.0 | ADI/2009/page_90.pdf-2 | ['included in other non-current liabilities , because the company believes that the ultimate payment or settlement of these liabilities will not occur within the next twelve months .', 'prior to the adoption of these provisions , these amounts were included in current income tax payable .', 'the company includes interest and penalties related to unrecognized tax benefits within the provision for taxes in the condensed consolidated statements of income , and as a result , no change in classification was made upon adopting these provisions .', 'the condensed consolidated statements of income for fiscal year 2009 and fiscal year 2008 include $ 1.7 million and $ 1.3 million , respectively , of interest and penalties related to these uncertain tax positions .', 'due to the complexity associated with its tax uncertainties , the company cannot make a reasonably reliable estimate as to the period in which it expects to settle the liabilities associated with these uncertain tax positions .', 'the following table summarizes the changes in the total amounts of uncertain tax positions for fiscal 2008 and fiscal 2009. .'] | ['fiscal year 2004 and 2005 irs examination during the fourth quarter of fiscal 2007 , the irs completed its field examination of the company 2019s fiscal years 2004 and 2005 .', 'on january 2 , 2008 , the irs issued its report for fiscal 2004 and 2005 , which included proposed adjustments related to these two fiscal years .', 'the company has recorded taxes and penalties related to certain of these proposed adjustments .', 'there are four items with an additional potential total tax liability of $ 46 million .', 'the company has concluded , based on discussions with its tax advisors , that these four items are not likely to result in any additional tax liability .', 'therefore , the company has not recorded any additional tax liability for these items and is appealing these proposed adjustments through the normal processes for the resolution of differences between the irs and taxpayers .', 'the company 2019s initial meetings with the appellate division of the irs were held during fiscal year 2009 .', 'two of the unresolved matters are one-time issues and pertain to section 965 of the internal revenue code related to the beneficial tax treatment of dividends from foreign owned companies under the american jobs creation act .', 'the other matters pertain to the computation of research and development ( r&d ) tax credits and the profits earned from manufacturing activities carried on outside the united states .', 'these latter two matters could impact taxes payable for fiscal 2004 and 2005 as well as for subsequent years .', 'fiscal year 2006 and 2007 irs examination during the third quarter of fiscal 2009 , the irs completed its field examination of the company 2019s fiscal years 2006 and 2007 .', 'the irs and the company have agreed on the treatment of a number of issues that have been included in an issue resolutions agreement related to the 2006 and 2007 tax returns .', 'however , no agreement was reached on the tax treatment of a number of issues , including the same r&d credit and foreign manufacturing issues mentioned above related to fiscal 2004 and 2005 , the pricing of intercompany sales ( transfer pricing ) , and the deductibility of certain stock option compensation expenses .', 'during the third quarter of fiscal 2009 , the irs issued its report for fiscal 2006 and fiscal 2007 , which included proposed adjustments related to these two fiscal years .', 'the company has recorded taxes and penalties related to certain of these proposed adjustments .', 'there are four items with an additional potential total tax liability of $ 195 million .', 'the company concluded , based on discussions with its tax advisors , that these four items are not likely to result in any additional tax liability .', 'therefore , the company has not recorded any additional tax liability for these items and is appealing these proposed adjustments through the normal processes for the resolution of differences between the irs and taxpayers .', 'with the exception of the analog devices , inc .', 'notes to consolidated financial statements 2014 ( continued ) .'] | ========================================
Row 1: balance november 3 2007, $ 9889
Row 2: additions for tax positions of current year, 3861
Row 3: balance november 1 2008, 13750
Row 4: additions for tax positions of current year, 4411
Row 5: balance october 31 2009, $ 18161
======================================== | subtract(18161, 9889) | 8272.0 |
\\nwhat was ratio of the estimates of the year-on-year derivative and other transaction gains and losses 2012 to 2013 | Context: ['commodity prices risk : certain commodities the company uses in the production of its products are exposed to market price risks .', '3m manages commodity price risks through negotiated supply contracts , price protection agreements and forward physical contracts .', 'the company uses commodity price swaps relative to natural gas as cash flow hedges of forecasted transactions to manage price volatility .', 'generally , the length of time over which 3m hedges its exposure to the variability in future cash flows for its forecasted natural gas transactions is 12 months .', '3m also enters into commodity price swaps that are not designated in hedge relationships to offset , in part , the impacts of fluctuations in costs associated with the use of certain precious metals .', 'the dollar equivalent gross notional amount of the company 2019s natural gas commodity price swaps designated as cash flow hedges and precious metal commodity price swaps not designated in hedge relationships were $ 19 million and $ 2 million , respectively , at december 31 , 2013 .', 'value at risk : the value at risk analysis is performed annually .', 'a monte carlo simulation technique was used to test the company 2019s exposure to changes in currency rates , interest rates , and commodity prices and assess the risk of loss or benefit in after- tax earnings of financial instruments ( primarily debt ) , derivatives and underlying exposures outstanding at december 31 , 2013 .', 'the model ( third-party bank dataset ) used a 95 percent confidence level over a 12-month time horizon .', 'the exposure to changes in currency rates model used 18 currencies , interest rates related to four currencies , and commodity prices related to five commodities .', 'this model does not purport to represent what actually will be experienced by the company .', 'this model does not include certain hedge transactions , because the company believes their inclusion would not materially impact the results .', 'foreign exchange rate risk of loss or benefit increased in 2013 , primarily due to increases in exposures , which is one of the key drivers in the valuation model .', 'interest rate volatility remained stable in 2013 because interest rates are currently very low and are projected to remain low , based on forward rates .', 'the following table summarizes the possible adverse and positive impacts to after-tax earnings related to these exposures .', 'adverse impact on after-tax earnings positive impact on after-tax earnings .']
----
Table:
( millions ), adverse impact on after-tax earnings 2013, adverse impact on after-tax earnings 2012, adverse impact on after-tax earnings 2013, 2012
foreign exchange rates, $ -111 ( 111 ), $ -97 ( 97 ), $ 119, $ 105
interest rates, -2 ( 2 ), -2 ( 2 ), 1, 1
commodity prices, -2 ( 2 ), -9 ( 9 ), 3, 7
----
Post-table: ['in addition to the possible adverse and positive impacts discussed in the preceding table related to foreign exchange rates , recent historical information is as follows .', '3m estimates that year-on-year currency effects , including hedging impacts , had the following effects on net income attributable to 3m : 2013 ( $ 74 million decrease ) and 2012 ( $ 103 million decrease ) .', 'this estimate includes the effect of translating profits from local currencies into u.s .', 'dollars ; the impact of currency fluctuations on the transfer of goods between 3m operations in the united states and abroad ; and transaction gains and losses , including derivative instruments designed to reduce foreign currency exchange rate risks and the negative impact of swapping venezuelan bolivars into u.s .', 'dollars .', '3m estimates that year-on-year derivative and other transaction gains and losses had the following effects on net income attributable to 3m : 2013 ( $ 12 million decrease ) and 2012 ( $ 49 million increase ) .', 'an analysis of the global exposures related to purchased components and materials is performed at each year-end .', 'a one percent price change would result in a pre-tax cost or savings of approximately $ 76 million per year .', 'the global energy exposure is such that a 10 percent price change would result in a pre-tax cost or savings of approximately $ 45 million per .'] | 4.08333 | MMM/2013/page_48.pdf-2 | ['commodity prices risk : certain commodities the company uses in the production of its products are exposed to market price risks .', '3m manages commodity price risks through negotiated supply contracts , price protection agreements and forward physical contracts .', 'the company uses commodity price swaps relative to natural gas as cash flow hedges of forecasted transactions to manage price volatility .', 'generally , the length of time over which 3m hedges its exposure to the variability in future cash flows for its forecasted natural gas transactions is 12 months .', '3m also enters into commodity price swaps that are not designated in hedge relationships to offset , in part , the impacts of fluctuations in costs associated with the use of certain precious metals .', 'the dollar equivalent gross notional amount of the company 2019s natural gas commodity price swaps designated as cash flow hedges and precious metal commodity price swaps not designated in hedge relationships were $ 19 million and $ 2 million , respectively , at december 31 , 2013 .', 'value at risk : the value at risk analysis is performed annually .', 'a monte carlo simulation technique was used to test the company 2019s exposure to changes in currency rates , interest rates , and commodity prices and assess the risk of loss or benefit in after- tax earnings of financial instruments ( primarily debt ) , derivatives and underlying exposures outstanding at december 31 , 2013 .', 'the model ( third-party bank dataset ) used a 95 percent confidence level over a 12-month time horizon .', 'the exposure to changes in currency rates model used 18 currencies , interest rates related to four currencies , and commodity prices related to five commodities .', 'this model does not purport to represent what actually will be experienced by the company .', 'this model does not include certain hedge transactions , because the company believes their inclusion would not materially impact the results .', 'foreign exchange rate risk of loss or benefit increased in 2013 , primarily due to increases in exposures , which is one of the key drivers in the valuation model .', 'interest rate volatility remained stable in 2013 because interest rates are currently very low and are projected to remain low , based on forward rates .', 'the following table summarizes the possible adverse and positive impacts to after-tax earnings related to these exposures .', 'adverse impact on after-tax earnings positive impact on after-tax earnings .'] | ['in addition to the possible adverse and positive impacts discussed in the preceding table related to foreign exchange rates , recent historical information is as follows .', '3m estimates that year-on-year currency effects , including hedging impacts , had the following effects on net income attributable to 3m : 2013 ( $ 74 million decrease ) and 2012 ( $ 103 million decrease ) .', 'this estimate includes the effect of translating profits from local currencies into u.s .', 'dollars ; the impact of currency fluctuations on the transfer of goods between 3m operations in the united states and abroad ; and transaction gains and losses , including derivative instruments designed to reduce foreign currency exchange rate risks and the negative impact of swapping venezuelan bolivars into u.s .', 'dollars .', '3m estimates that year-on-year derivative and other transaction gains and losses had the following effects on net income attributable to 3m : 2013 ( $ 12 million decrease ) and 2012 ( $ 49 million increase ) .', 'an analysis of the global exposures related to purchased components and materials is performed at each year-end .', 'a one percent price change would result in a pre-tax cost or savings of approximately $ 76 million per year .', 'the global energy exposure is such that a 10 percent price change would result in a pre-tax cost or savings of approximately $ 45 million per .'] | ( millions ), adverse impact on after-tax earnings 2013, adverse impact on after-tax earnings 2012, adverse impact on after-tax earnings 2013, 2012
foreign exchange rates, $ -111 ( 111 ), $ -97 ( 97 ), $ 119, $ 105
interest rates, -2 ( 2 ), -2 ( 2 ), 1, 1
commodity prices, -2 ( 2 ), -9 ( 9 ), 3, 7 | divide(49, 12) | 4.08333 |
what percentage of scheduled maturities of total debt are due after 5 years? | Context: ['in march 2000 , the company entered into an $ 850 million revolving credit agreement with a syndicate of banks , which provides for a combination of either loans or letters of credit up to the maximum borrowing capacity .', 'loans under the facility bear interest at either prime plus a spread of 0.50% ( 0.50 % ) or libor plus a spread of 2% ( 2 % ) .', 'such spreads are subject to adjustment based on the company 2019s credit ratings and the term remaining to maturity .', 'this facility replaced the company 2019s then existing separate $ 600 million revolving credit facility and $ 250 million letter of credit facilities .', 'as of december 31 , 2001 , $ 496 million was available .', 'commitment fees on the facility at december 31 , 2001 were .50% ( .50 % ) per annum .', 'the company 2019s recourse debt borrowings are unsecured obligations of the company .', 'in may 2001 , the company issued $ 200 million of remarketable or redeemable securities ( 2018 2018roars 2019 2019 ) .', 'the roars are scheduled to mature on june 15 , 2013 , but such maturity date may be adjusted to a date , which shall be no later than june 15 , 2014 .', 'on the first remarketing date ( june 15 , 2003 ) or subsequent remarketing dates thereafter , the remarketing agent , or the company , may elect to redeem the roars at 100% ( 100 % ) of the aggregate principal amount and unpaid interest , plus a premium in certain circumstances .', 'the company at its option , may also redeem the roars subsequent to the first remarketing date at any time .', 'interest on the roars accrues at 7.375% ( 7.375 % ) until the first remarketing date , and thereafter is set annually based on market rate bids , with a floor of 5.5% ( 5.5 % ) .', 'the roars are senior notes .', 'the junior subordinate debentures are convertible into common stock of the company at the option of the holder at any time at or before maturity , unless previously redeemed , at a conversion price of $ 27.00 per share .', 'future maturities of debt 2014scheduled maturities of total debt at december 31 , 2001 , are ( in millions ) : .']
Tabular Data:
Row 1: 2002, $ 2672
Row 2: 2003, 2323
Row 3: 2004, 1255
Row 4: 2005, 1819
Row 5: 2006, 1383
Row 6: thereafter, 12806
Row 7: total, $ 22258
Post-table: ['covenants 2014the terms of the company 2019s recourse debt , including the revolving bank loan , senior and subordinated notes contain certain restrictive financial and non-financial covenants .', 'the financial covenants provide for , among other items , maintenance of a minimum consolidated net worth , minimum consolidated cash flow coverage ratio and minimum ratio of recourse debt to recourse capital .', 'the non-financial covenants include limitations on incurrence of additional debt and payments of dividends to stockholders .', 'in addition , the company 2019s revolver contains provisions regarding events of default that could be caused by events of default in other debt of aes and certain of its significant subsidiaries , as defined in the agreement .', 'the terms of the company 2019s non-recourse debt , which is debt held at subsidiaries , include certain financial and non-financial covenants .', 'these covenants are limited to subsidiary activity and vary among the subsidiaries .', 'these covenants may include but are not limited to maintenance of certain reserves , minimum levels of working capital and limitations on incurring additional indebtedness .', 'as of december 31 , 2001 , approximately $ 442 million of restricted cash was maintained in accordance with certain covenants of the debt agreements , and these amounts were included within debt service reserves and other deposits in the consolidated balance sheets .', 'various lender and governmental provisions restrict the ability of the company 2019s subsidiaries to transfer retained earnings to the parent company .', 'such restricted retained earnings of subsidiaries amounted to approximately $ 6.5 billion at december 31 , 2001. .'] | 0.57534 | AES/2001/page_85.pdf-3 | ['in march 2000 , the company entered into an $ 850 million revolving credit agreement with a syndicate of banks , which provides for a combination of either loans or letters of credit up to the maximum borrowing capacity .', 'loans under the facility bear interest at either prime plus a spread of 0.50% ( 0.50 % ) or libor plus a spread of 2% ( 2 % ) .', 'such spreads are subject to adjustment based on the company 2019s credit ratings and the term remaining to maturity .', 'this facility replaced the company 2019s then existing separate $ 600 million revolving credit facility and $ 250 million letter of credit facilities .', 'as of december 31 , 2001 , $ 496 million was available .', 'commitment fees on the facility at december 31 , 2001 were .50% ( .50 % ) per annum .', 'the company 2019s recourse debt borrowings are unsecured obligations of the company .', 'in may 2001 , the company issued $ 200 million of remarketable or redeemable securities ( 2018 2018roars 2019 2019 ) .', 'the roars are scheduled to mature on june 15 , 2013 , but such maturity date may be adjusted to a date , which shall be no later than june 15 , 2014 .', 'on the first remarketing date ( june 15 , 2003 ) or subsequent remarketing dates thereafter , the remarketing agent , or the company , may elect to redeem the roars at 100% ( 100 % ) of the aggregate principal amount and unpaid interest , plus a premium in certain circumstances .', 'the company at its option , may also redeem the roars subsequent to the first remarketing date at any time .', 'interest on the roars accrues at 7.375% ( 7.375 % ) until the first remarketing date , and thereafter is set annually based on market rate bids , with a floor of 5.5% ( 5.5 % ) .', 'the roars are senior notes .', 'the junior subordinate debentures are convertible into common stock of the company at the option of the holder at any time at or before maturity , unless previously redeemed , at a conversion price of $ 27.00 per share .', 'future maturities of debt 2014scheduled maturities of total debt at december 31 , 2001 , are ( in millions ) : .'] | ['covenants 2014the terms of the company 2019s recourse debt , including the revolving bank loan , senior and subordinated notes contain certain restrictive financial and non-financial covenants .', 'the financial covenants provide for , among other items , maintenance of a minimum consolidated net worth , minimum consolidated cash flow coverage ratio and minimum ratio of recourse debt to recourse capital .', 'the non-financial covenants include limitations on incurrence of additional debt and payments of dividends to stockholders .', 'in addition , the company 2019s revolver contains provisions regarding events of default that could be caused by events of default in other debt of aes and certain of its significant subsidiaries , as defined in the agreement .', 'the terms of the company 2019s non-recourse debt , which is debt held at subsidiaries , include certain financial and non-financial covenants .', 'these covenants are limited to subsidiary activity and vary among the subsidiaries .', 'these covenants may include but are not limited to maintenance of certain reserves , minimum levels of working capital and limitations on incurring additional indebtedness .', 'as of december 31 , 2001 , approximately $ 442 million of restricted cash was maintained in accordance with certain covenants of the debt agreements , and these amounts were included within debt service reserves and other deposits in the consolidated balance sheets .', 'various lender and governmental provisions restrict the ability of the company 2019s subsidiaries to transfer retained earnings to the parent company .', 'such restricted retained earnings of subsidiaries amounted to approximately $ 6.5 billion at december 31 , 2001. .'] | Row 1: 2002, $ 2672
Row 2: 2003, 2323
Row 3: 2004, 1255
Row 4: 2005, 1819
Row 5: 2006, 1383
Row 6: thereafter, 12806
Row 7: total, $ 22258 | divide(12806, 22258) | 0.57534 |
what is the percent change in cash , cash equivalents and marketable securities between 2005 and 2006? | Background: ['the activity related to the restructuring liability for 2004 is as follows ( in thousands ) : non-operating items interest income increased $ 1.7 million to $ 12.0 million in 2005 from $ 10.3 million in 2004 .', 'the increase was mainly the result of higher returns on invested funds .', 'interest expense decreased $ 1.0 million , or 5% ( 5 % ) , to $ 17.3 million in 2005 from $ 18.3 million in 2004 as a result of the exchange of newly issued stock for a portion of our outstanding convertible debt in the second half of 2005 .', 'in addition , as a result of the issuance during 2005 of common stock in exchange for convertible subordinated notes , we recorded a non- cash charge of $ 48.2 million .', 'this charge related to the incremental shares issued in the transactions over the number of shares that would have been issued upon the conversion of the notes under their original terms .', 'liquidity and capital resources we have incurred operating losses since our inception and historically have financed our operations principally through public and private offerings of our equity and debt securities , strategic collaborative agreements that include research and/or development funding , development milestones and royalties on the sales of products , investment income and proceeds from the issuance of stock under our employee benefit programs .', 'at december 31 , 2006 , we had cash , cash equivalents and marketable securities of $ 761.8 million , which was an increase of $ 354.2 million from $ 407.5 million at december 31 , 2005 .', 'the increase was primarily a result of : 2022 $ 313.7 million in net proceeds from our september 2006 public offering of common stock ; 2022 $ 165.0 million from an up-front payment we received in connection with signing the janssen agreement ; 2022 $ 52.4 million from the issuance of common stock under our employee benefit plans ; and 2022 $ 30.0 million from the sale of shares of altus pharmaceuticals inc .', 'common stock and warrants to purchase altus common stock .', 'these cash inflows were partially offset by the significant cash expenditures we made in 2006 related to research and development expenses and sales , general and administrative expenses .', 'capital expenditures for property and equipment during 2006 were $ 32.4 million .', 'at december 31 , 2006 , we had $ 42.1 million in aggregate principal amount of the 2007 notes and $ 59.6 million in aggregate principal amount of the 2011 notes outstanding .', 'the 2007 notes are due in september 2007 and are convertible into common stock at the option of the holder at a price equal to $ 92.26 per share , subject to adjustment under certain circumstances .', 'in february 2007 , we announced that we will redeem our 2011 notes on march 5 , 2007 .', 'the 2011 notes are convertible into shares of our common stock at the option of the holder at a price equal to $ 14.94 per share .', 'we expect the holders of the 2011 notes will elect to convert their notes into stock , in which case we will issue approximately 4.0 million .', 'we will be required to repay any 2011 notes that are not converted at the rate of $ 1003.19 per $ 1000 principal amount , which includes principal and interest that will accrue to the redemption date .', 'liability as of december 31 , payments in 2004 cash received from sublease , net of operating costs in 2004 additional charge in liability as of december 31 , lease restructuring liability and other operating lease liability $ 69526 $ ( 31550 ) $ 293 $ 17574 $ 55843 .']
####
Data Table:
----------------------------------------
| liability as of december 31 2003 | cash payments in 2004 | cash received from sublease net of operating costs in 2004 | additional charge in 2004 | liability as of december 31 2004
----------|----------|----------|----------|----------|----------
lease restructuring liability and other operating lease liability | $ 69526 | $ -31550 ( 31550 ) | $ 293 | $ 17574 | $ 55843
----------------------------------------
####
Additional Information: ['the activity related to the restructuring liability for 2004 is as follows ( in thousands ) : non-operating items interest income increased $ 1.7 million to $ 12.0 million in 2005 from $ 10.3 million in 2004 .', 'the increase was mainly the result of higher returns on invested funds .', 'interest expense decreased $ 1.0 million , or 5% ( 5 % ) , to $ 17.3 million in 2005 from $ 18.3 million in 2004 as a result of the exchange of newly issued stock for a portion of our outstanding convertible debt in the second half of 2005 .', 'in addition , as a result of the issuance during 2005 of common stock in exchange for convertible subordinated notes , we recorded a non- cash charge of $ 48.2 million .', 'this charge related to the incremental shares issued in the transactions over the number of shares that would have been issued upon the conversion of the notes under their original terms .', 'liquidity and capital resources we have incurred operating losses since our inception and historically have financed our operations principally through public and private offerings of our equity and debt securities , strategic collaborative agreements that include research and/or development funding , development milestones and royalties on the sales of products , investment income and proceeds from the issuance of stock under our employee benefit programs .', 'at december 31 , 2006 , we had cash , cash equivalents and marketable securities of $ 761.8 million , which was an increase of $ 354.2 million from $ 407.5 million at december 31 , 2005 .', 'the increase was primarily a result of : 2022 $ 313.7 million in net proceeds from our september 2006 public offering of common stock ; 2022 $ 165.0 million from an up-front payment we received in connection with signing the janssen agreement ; 2022 $ 52.4 million from the issuance of common stock under our employee benefit plans ; and 2022 $ 30.0 million from the sale of shares of altus pharmaceuticals inc .', 'common stock and warrants to purchase altus common stock .', 'these cash inflows were partially offset by the significant cash expenditures we made in 2006 related to research and development expenses and sales , general and administrative expenses .', 'capital expenditures for property and equipment during 2006 were $ 32.4 million .', 'at december 31 , 2006 , we had $ 42.1 million in aggregate principal amount of the 2007 notes and $ 59.6 million in aggregate principal amount of the 2011 notes outstanding .', 'the 2007 notes are due in september 2007 and are convertible into common stock at the option of the holder at a price equal to $ 92.26 per share , subject to adjustment under certain circumstances .', 'in february 2007 , we announced that we will redeem our 2011 notes on march 5 , 2007 .', 'the 2011 notes are convertible into shares of our common stock at the option of the holder at a price equal to $ 14.94 per share .', 'we expect the holders of the 2011 notes will elect to convert their notes into stock , in which case we will issue approximately 4.0 million .', 'we will be required to repay any 2011 notes that are not converted at the rate of $ 1003.19 per $ 1000 principal amount , which includes principal and interest that will accrue to the redemption date .', 'liability as of december 31 , payments in 2004 cash received from sublease , net of operating costs in 2004 additional charge in liability as of december 31 , lease restructuring liability and other operating lease liability $ 69526 $ ( 31550 ) $ 293 $ 17574 $ 55843 .'] | 0.86945 | VRTX/2006/page_71.pdf-1 | ['the activity related to the restructuring liability for 2004 is as follows ( in thousands ) : non-operating items interest income increased $ 1.7 million to $ 12.0 million in 2005 from $ 10.3 million in 2004 .', 'the increase was mainly the result of higher returns on invested funds .', 'interest expense decreased $ 1.0 million , or 5% ( 5 % ) , to $ 17.3 million in 2005 from $ 18.3 million in 2004 as a result of the exchange of newly issued stock for a portion of our outstanding convertible debt in the second half of 2005 .', 'in addition , as a result of the issuance during 2005 of common stock in exchange for convertible subordinated notes , we recorded a non- cash charge of $ 48.2 million .', 'this charge related to the incremental shares issued in the transactions over the number of shares that would have been issued upon the conversion of the notes under their original terms .', 'liquidity and capital resources we have incurred operating losses since our inception and historically have financed our operations principally through public and private offerings of our equity and debt securities , strategic collaborative agreements that include research and/or development funding , development milestones and royalties on the sales of products , investment income and proceeds from the issuance of stock under our employee benefit programs .', 'at december 31 , 2006 , we had cash , cash equivalents and marketable securities of $ 761.8 million , which was an increase of $ 354.2 million from $ 407.5 million at december 31 , 2005 .', 'the increase was primarily a result of : 2022 $ 313.7 million in net proceeds from our september 2006 public offering of common stock ; 2022 $ 165.0 million from an up-front payment we received in connection with signing the janssen agreement ; 2022 $ 52.4 million from the issuance of common stock under our employee benefit plans ; and 2022 $ 30.0 million from the sale of shares of altus pharmaceuticals inc .', 'common stock and warrants to purchase altus common stock .', 'these cash inflows were partially offset by the significant cash expenditures we made in 2006 related to research and development expenses and sales , general and administrative expenses .', 'capital expenditures for property and equipment during 2006 were $ 32.4 million .', 'at december 31 , 2006 , we had $ 42.1 million in aggregate principal amount of the 2007 notes and $ 59.6 million in aggregate principal amount of the 2011 notes outstanding .', 'the 2007 notes are due in september 2007 and are convertible into common stock at the option of the holder at a price equal to $ 92.26 per share , subject to adjustment under certain circumstances .', 'in february 2007 , we announced that we will redeem our 2011 notes on march 5 , 2007 .', 'the 2011 notes are convertible into shares of our common stock at the option of the holder at a price equal to $ 14.94 per share .', 'we expect the holders of the 2011 notes will elect to convert their notes into stock , in which case we will issue approximately 4.0 million .', 'we will be required to repay any 2011 notes that are not converted at the rate of $ 1003.19 per $ 1000 principal amount , which includes principal and interest that will accrue to the redemption date .', 'liability as of december 31 , payments in 2004 cash received from sublease , net of operating costs in 2004 additional charge in liability as of december 31 , lease restructuring liability and other operating lease liability $ 69526 $ ( 31550 ) $ 293 $ 17574 $ 55843 .'] | ['the activity related to the restructuring liability for 2004 is as follows ( in thousands ) : non-operating items interest income increased $ 1.7 million to $ 12.0 million in 2005 from $ 10.3 million in 2004 .', 'the increase was mainly the result of higher returns on invested funds .', 'interest expense decreased $ 1.0 million , or 5% ( 5 % ) , to $ 17.3 million in 2005 from $ 18.3 million in 2004 as a result of the exchange of newly issued stock for a portion of our outstanding convertible debt in the second half of 2005 .', 'in addition , as a result of the issuance during 2005 of common stock in exchange for convertible subordinated notes , we recorded a non- cash charge of $ 48.2 million .', 'this charge related to the incremental shares issued in the transactions over the number of shares that would have been issued upon the conversion of the notes under their original terms .', 'liquidity and capital resources we have incurred operating losses since our inception and historically have financed our operations principally through public and private offerings of our equity and debt securities , strategic collaborative agreements that include research and/or development funding , development milestones and royalties on the sales of products , investment income and proceeds from the issuance of stock under our employee benefit programs .', 'at december 31 , 2006 , we had cash , cash equivalents and marketable securities of $ 761.8 million , which was an increase of $ 354.2 million from $ 407.5 million at december 31 , 2005 .', 'the increase was primarily a result of : 2022 $ 313.7 million in net proceeds from our september 2006 public offering of common stock ; 2022 $ 165.0 million from an up-front payment we received in connection with signing the janssen agreement ; 2022 $ 52.4 million from the issuance of common stock under our employee benefit plans ; and 2022 $ 30.0 million from the sale of shares of altus pharmaceuticals inc .', 'common stock and warrants to purchase altus common stock .', 'these cash inflows were partially offset by the significant cash expenditures we made in 2006 related to research and development expenses and sales , general and administrative expenses .', 'capital expenditures for property and equipment during 2006 were $ 32.4 million .', 'at december 31 , 2006 , we had $ 42.1 million in aggregate principal amount of the 2007 notes and $ 59.6 million in aggregate principal amount of the 2011 notes outstanding .', 'the 2007 notes are due in september 2007 and are convertible into common stock at the option of the holder at a price equal to $ 92.26 per share , subject to adjustment under certain circumstances .', 'in february 2007 , we announced that we will redeem our 2011 notes on march 5 , 2007 .', 'the 2011 notes are convertible into shares of our common stock at the option of the holder at a price equal to $ 14.94 per share .', 'we expect the holders of the 2011 notes will elect to convert their notes into stock , in which case we will issue approximately 4.0 million .', 'we will be required to repay any 2011 notes that are not converted at the rate of $ 1003.19 per $ 1000 principal amount , which includes principal and interest that will accrue to the redemption date .', 'liability as of december 31 , payments in 2004 cash received from sublease , net of operating costs in 2004 additional charge in liability as of december 31 , lease restructuring liability and other operating lease liability $ 69526 $ ( 31550 ) $ 293 $ 17574 $ 55843 .'] | ----------------------------------------
| liability as of december 31 2003 | cash payments in 2004 | cash received from sublease net of operating costs in 2004 | additional charge in 2004 | liability as of december 31 2004
----------|----------|----------|----------|----------|----------
lease restructuring liability and other operating lease liability | $ 69526 | $ -31550 ( 31550 ) | $ 293 | $ 17574 | $ 55843
---------------------------------------- | subtract(761.8, 407.5), divide(#0, 407.5) | 0.86945 |
what is the percent change in net revenue between 2006 and 2007? | Background: ['entergy texas , inc .', "management's financial discussion and analysis fuel and purchased power expenses increased primarily due to an increase in power purchases as a result of the purchased power agreements between entergy gulf states louisiana and entergy texas and an increase in the average market prices of purchased power and natural gas , substantially offset by a decrease in deferred fuel expense as a result of decreased recovery from customers of fuel costs .", 'other regulatory charges increased primarily due to an increase of $ 6.9 million in the recovery of bond expenses related to the securitization bonds .', 'the recovery became effective july 2007 .', 'see note 5 to the financial statements for additional information regarding the securitization bonds .', '2007 compared to 2006 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges .', 'following is an analysis of the change in net revenue comparing 2007 to 2006 .', 'amount ( in millions ) .']
##########
Table:
----------------------------------------
| amount ( in millions )
2006 net revenue | $ 403.3
purchased power capacity | 13.1
securitization transition charge | 9.9
volume/weather | 9.7
transmission revenue | 6.1
base revenue | 2.6
other | -2.4 ( 2.4 )
2007 net revenue | $ 442.3
----------------------------------------
##########
Additional Information: ['the purchased power capacity variance is due to changes in the purchased power capacity costs included in the calculation in 2007 compared to 2006 used to bill generation costs between entergy texas and entergy gulf states louisiana .', 'the securitization transition charge variance is due to the issuance of securitization bonds .', 'as discussed above , in june 2007 , egsrf i , a company wholly-owned and consolidated by entergy texas , issued securitization bonds and with the proceeds purchased from entergy texas the transition property , which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds .', 'see note 5 to the financial statements herein for details of the securitization bond issuance .', 'the volume/weather variance is due to increased electricity usage on billed retail sales , including the effects of more favorable weather in 2007 compared to the same period in 2006 .', 'the increase is also due to an increase in usage during the unbilled sales period .', 'retail electricity usage increased a total of 139 gwh in all sectors .', 'see "critical accounting estimates" below and note 1 to the financial statements for further discussion of the accounting for unbilled revenues .', 'the transmission revenue variance is due to an increase in rates effective june 2007 and new transmission customers in late 2006 .', 'the base revenue variance is due to the transition to competition rider that began in march 2006 .', 'refer to note 2 to the financial statements for further discussion of the rate increase .', 'gross operating revenues , fuel and purchased power expenses , and other regulatory charges gross operating revenues decreased primarily due to a decrease of $ 179 million in fuel cost recovery revenues due to lower fuel rates and fuel refunds .', 'the decrease was partially offset by the $ 39 million increase in net revenue described above and an increase of $ 44 million in wholesale revenues , including $ 30 million from the system agreement cost equalization payments from entergy arkansas .', 'the receipt of such payments is being .'] | 0.0967 | ETR/2008/page_377.pdf-3 | ['entergy texas , inc .', "management's financial discussion and analysis fuel and purchased power expenses increased primarily due to an increase in power purchases as a result of the purchased power agreements between entergy gulf states louisiana and entergy texas and an increase in the average market prices of purchased power and natural gas , substantially offset by a decrease in deferred fuel expense as a result of decreased recovery from customers of fuel costs .", 'other regulatory charges increased primarily due to an increase of $ 6.9 million in the recovery of bond expenses related to the securitization bonds .', 'the recovery became effective july 2007 .', 'see note 5 to the financial statements for additional information regarding the securitization bonds .', '2007 compared to 2006 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges .', 'following is an analysis of the change in net revenue comparing 2007 to 2006 .', 'amount ( in millions ) .'] | ['the purchased power capacity variance is due to changes in the purchased power capacity costs included in the calculation in 2007 compared to 2006 used to bill generation costs between entergy texas and entergy gulf states louisiana .', 'the securitization transition charge variance is due to the issuance of securitization bonds .', 'as discussed above , in june 2007 , egsrf i , a company wholly-owned and consolidated by entergy texas , issued securitization bonds and with the proceeds purchased from entergy texas the transition property , which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds .', 'see note 5 to the financial statements herein for details of the securitization bond issuance .', 'the volume/weather variance is due to increased electricity usage on billed retail sales , including the effects of more favorable weather in 2007 compared to the same period in 2006 .', 'the increase is also due to an increase in usage during the unbilled sales period .', 'retail electricity usage increased a total of 139 gwh in all sectors .', 'see "critical accounting estimates" below and note 1 to the financial statements for further discussion of the accounting for unbilled revenues .', 'the transmission revenue variance is due to an increase in rates effective june 2007 and new transmission customers in late 2006 .', 'the base revenue variance is due to the transition to competition rider that began in march 2006 .', 'refer to note 2 to the financial statements for further discussion of the rate increase .', 'gross operating revenues , fuel and purchased power expenses , and other regulatory charges gross operating revenues decreased primarily due to a decrease of $ 179 million in fuel cost recovery revenues due to lower fuel rates and fuel refunds .', 'the decrease was partially offset by the $ 39 million increase in net revenue described above and an increase of $ 44 million in wholesale revenues , including $ 30 million from the system agreement cost equalization payments from entergy arkansas .', 'the receipt of such payments is being .'] | ----------------------------------------
| amount ( in millions )
2006 net revenue | $ 403.3
purchased power capacity | 13.1
securitization transition charge | 9.9
volume/weather | 9.7
transmission revenue | 6.1
base revenue | 2.6
other | -2.4 ( 2.4 )
2007 net revenue | $ 442.3
---------------------------------------- | subtract(442.3, 403.3), divide(#0, 403.3) | 0.0967 |
what portion of the total shares subject to outstanding awards is under the 2009 global incentive plan? | Pre-text: ['tax returns for 2001 and beyond are open for examination under statute .', 'currently , unrecognized tax benefits are not expected to change significantly over the next 12 months .', '19 .', 'stock-based and other management compensation plans in april 2009 , the company approved a global incentive plan which replaces the company 2019s 2004 stock incentive plan .', 'the 2009 global incentive plan ( 201cgip 201d ) enables the compensation committee of the board of directors to award incentive and nonqualified stock options , stock appreciation rights , shares of series a common stock , restricted stock , restricted stock units ( 201crsus 201d ) and incentive bonuses ( which may be paid in cash or stock or a combination thereof ) , any of which may be performance-based , with vesting and other award provisions that provide effective incentive to company employees ( including officers ) , non-management directors and other service providers .', 'under the 2009 gip , the company no longer can grant rsus with the right to participate in dividends or dividend equivalents .', 'the maximum number of shares that may be issued under the 2009 gip is equal to 5350000 shares plus ( a ) any shares of series a common stock that remain available for issuance under the 2004 stock incentive plan ( 201csip 201d ) ( not including any shares of series a common stock that are subject to outstanding awards under the 2004 sip or any shares of series a common stock that were issued pursuant to awards under the 2004 sip ) and ( b ) any awards under the 2004 stock incentive plan that remain outstanding that cease for any reason to be subject to such awards ( other than by reason of exercise or settlement of the award to the extent that such award is exercised for or settled in vested and non-forfeitable shares ) .', 'as of december 31 , 2010 , total shares available for awards and total shares subject to outstanding awards are as follows : shares available for awards shares subject to outstanding awards .']
Data Table:
****************************************
Row 1: , shares available for awards, shares subject to outstanding awards
Row 2: 2009 global incentive plan, 2322450, 2530454
Row 3: 2004 stock incentive plan, -, 5923147
****************************************
Additional Information: ['upon the termination of a participant 2019s employment with the company by reason of death or disability or by the company without cause ( as defined in the respective award agreements ) , an award in amount equal to ( i ) the value of the award granted multiplied by ( ii ) a fraction , ( x ) the numerator of which is the number of full months between grant date and the date of such termination , and ( y ) the denominator of which is the term of the award , such product to be rounded down to the nearest whole number , and reduced by ( iii ) the value of any award that previously vested , shall immediately vest and become payable to the participant .', 'upon the termination of a participant 2019s employment with the company for any other reason , any unvested portion of the award shall be forfeited and cancelled without consideration .', 'there was $ 19 million and $ 0 million of tax benefit realized from stock option exercises and vesting of rsus during the years ended december 31 , 2010 and 2009 , respectively .', 'during the year ended december 31 , 2008 the company reversed $ 8 million of the $ 19 million tax benefit that was realized during the year ended december 31 , 2007 .', 'deferred compensation in april 2007 , certain participants in the company 2019s 2004 deferred compensation plan elected to participate in a revised program , which includes both cash awards and restricted stock units ( see restricted stock units below ) .', 'based on participation in the revised program , the company expensed $ 9 million , $ 10 million and $ 8 million during the years ended december 31 , 2010 , 2009 and 2008 , respectively , related to the revised program and made payments of $ 4 million during the year ended december 31 , 2010 to participants who left the company and $ 28 million to active employees during december 2010 .', 'as of december 31 , 2010 , $ 1 million remains to be paid during 2011 under the revised program .', 'as of december 31 , 2009 , there was no deferred compensation payable remaining associated with the 2004 deferred compensation plan .', 'the company recorded expense related to participants continuing in the 2004 deferred %%transmsg*** transmitting job : d77691 pcn : 132000000 ***%%pcmsg|132 |00011|yes|no|02/09/2011 18:22|0|0|page is valid , no graphics -- color : n| .'] | 0.70067 | CE/2010/page_134.pdf-2 | ['tax returns for 2001 and beyond are open for examination under statute .', 'currently , unrecognized tax benefits are not expected to change significantly over the next 12 months .', '19 .', 'stock-based and other management compensation plans in april 2009 , the company approved a global incentive plan which replaces the company 2019s 2004 stock incentive plan .', 'the 2009 global incentive plan ( 201cgip 201d ) enables the compensation committee of the board of directors to award incentive and nonqualified stock options , stock appreciation rights , shares of series a common stock , restricted stock , restricted stock units ( 201crsus 201d ) and incentive bonuses ( which may be paid in cash or stock or a combination thereof ) , any of which may be performance-based , with vesting and other award provisions that provide effective incentive to company employees ( including officers ) , non-management directors and other service providers .', 'under the 2009 gip , the company no longer can grant rsus with the right to participate in dividends or dividend equivalents .', 'the maximum number of shares that may be issued under the 2009 gip is equal to 5350000 shares plus ( a ) any shares of series a common stock that remain available for issuance under the 2004 stock incentive plan ( 201csip 201d ) ( not including any shares of series a common stock that are subject to outstanding awards under the 2004 sip or any shares of series a common stock that were issued pursuant to awards under the 2004 sip ) and ( b ) any awards under the 2004 stock incentive plan that remain outstanding that cease for any reason to be subject to such awards ( other than by reason of exercise or settlement of the award to the extent that such award is exercised for or settled in vested and non-forfeitable shares ) .', 'as of december 31 , 2010 , total shares available for awards and total shares subject to outstanding awards are as follows : shares available for awards shares subject to outstanding awards .'] | ['upon the termination of a participant 2019s employment with the company by reason of death or disability or by the company without cause ( as defined in the respective award agreements ) , an award in amount equal to ( i ) the value of the award granted multiplied by ( ii ) a fraction , ( x ) the numerator of which is the number of full months between grant date and the date of such termination , and ( y ) the denominator of which is the term of the award , such product to be rounded down to the nearest whole number , and reduced by ( iii ) the value of any award that previously vested , shall immediately vest and become payable to the participant .', 'upon the termination of a participant 2019s employment with the company for any other reason , any unvested portion of the award shall be forfeited and cancelled without consideration .', 'there was $ 19 million and $ 0 million of tax benefit realized from stock option exercises and vesting of rsus during the years ended december 31 , 2010 and 2009 , respectively .', 'during the year ended december 31 , 2008 the company reversed $ 8 million of the $ 19 million tax benefit that was realized during the year ended december 31 , 2007 .', 'deferred compensation in april 2007 , certain participants in the company 2019s 2004 deferred compensation plan elected to participate in a revised program , which includes both cash awards and restricted stock units ( see restricted stock units below ) .', 'based on participation in the revised program , the company expensed $ 9 million , $ 10 million and $ 8 million during the years ended december 31 , 2010 , 2009 and 2008 , respectively , related to the revised program and made payments of $ 4 million during the year ended december 31 , 2010 to participants who left the company and $ 28 million to active employees during december 2010 .', 'as of december 31 , 2010 , $ 1 million remains to be paid during 2011 under the revised program .', 'as of december 31 , 2009 , there was no deferred compensation payable remaining associated with the 2004 deferred compensation plan .', 'the company recorded expense related to participants continuing in the 2004 deferred %%transmsg*** transmitting job : d77691 pcn : 132000000 ***%%pcmsg|132 |00011|yes|no|02/09/2011 18:22|0|0|page is valid , no graphics -- color : n| .'] | ****************************************
Row 1: , shares available for awards, shares subject to outstanding awards
Row 2: 2009 global incentive plan, 2322450, 2530454
Row 3: 2004 stock incentive plan, -, 5923147
**************************************** | add(2530454, 5923147), divide(5923147, #0) | 0.70067 |
for fiscal 2012 , what percent of the total change in the valuation allowance was recorded as a tax benefit through the income statement?\\n | Background: ['repatriated , the related u.s .', 'tax liability may be reduced by any foreign income taxes paid on these earnings .', 'as of november 30 , 2012 , the cumulative amount of earnings upon which u.s .', 'income taxes have not been provided is approximately $ 2.9 billion .', 'the unrecognized deferred tax liability for these earnings is approximately $ 0.8 billion .', 'as of november 30 , 2012 , we have u.s .', 'net operating loss carryforwards of approximately $ 33.7 million for federal and $ 77.7 million for state .', 'we also have federal , state and foreign tax credit carryforwards of approximately $ 1.9 million , $ 18.0 million and $ 17.6 million , respectively .', 'the net operating loss carryforward assets , federal tax credits and foreign tax credits will expire in various years from fiscal 2017 through 2032 .', 'the state tax credit carryforwards can be carried forward indefinitely .', 'the net operating loss carryforward assets and certain credits are subject to an annual limitation under internal revenue code section 382 , but are expected to be fully realized .', 'in addition , we have been tracking certain deferred tax attributes of $ 45.0 million which have not been recorded in the financial statements pursuant to accounting standards related to stock-based compensation .', 'these amounts are no longer included in our gross or net deferred tax assets .', 'pursuant to these standards , the benefit of these deferred tax assets will be recorded to equity if and when they reduce taxes payable .', 'as of november 30 , 2012 , a valuation allowance of $ 28.2 million has been established for certain deferred tax assets related to the impairment of investments and certain foreign assets .', 'for fiscal 2012 , the total change in the valuation allowance was $ 23.0 million , of which $ 2.1 million was recorded as a tax benefit through the income statement .', 'accounting for uncertainty in income taxes during fiscal 2012 and 2011 , our aggregate changes in our total gross amount of unrecognized tax benefits are summarized as follows ( in thousands ) : .']
Table:
----------------------------------------
| 2012 | 2011
----------|----------|----------
beginning balance | $ 163607 | $ 156925
gross increases in unrecognized tax benefits 2013 prior year tax positions | 1038 | 11901
gross decreases in unrecognized tax benefits 2013 prior year tax positions | 2014 | -4154 ( 4154 )
gross increases in unrecognized tax benefits 2013 current year tax positions | 23771 | 32420
settlements with taxing authorities | -1754 ( 1754 ) | -29101 ( 29101 )
lapse of statute of limitations | -25387 ( 25387 ) | -3825 ( 3825 )
foreign exchange gains and losses | -807 ( 807 ) | -559 ( 559 )
ending balance | $ 160468 | $ 163607
----------------------------------------
Additional Information: ['as of november 30 , 2012 , 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 $ 12.5 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 2005 , 2006 and 2008 , respectively .', 'we regularly assess the likelihood of outcomes resulting from these examinations to determine the adequacy of our provision for income taxes and have reserved for potential adjustments that may result from the current examinations .', 'we believe such estimates to be reasonable ; however , there can be no assurance that the final determination of any of these examinations will not have an adverse effect on our operating results and financial position .', 'in august 2011 , a canadian income tax examination covering our fiscal years 2005 through 2008 was completed .', 'our accrued tax and interest related to these years was approximately $ 35 million and was previously reported in long-term income taxes payable .', 'we reclassified approximately $ 17 million to short-term income taxes payable and decreased deferred tax assets by approximately $ 18 million in conjunction with the aforementioned resolution .', 'the timing of the resolution of income tax examinations is highly uncertain as are the amounts and timing of tax payments that are part of any audit settlement process .', 'these events could cause large fluctuations in the balance sheet classification of current and non-current assets and liabilities .', 'the company believes that before the end of fiscal 2013 , it is reasonably possible table of contents adobe systems incorporated notes to consolidated financial statements ( continued ) .'] | 0.0913 | ADBE/2012/page_102.pdf-1 | ['repatriated , the related u.s .', 'tax liability may be reduced by any foreign income taxes paid on these earnings .', 'as of november 30 , 2012 , the cumulative amount of earnings upon which u.s .', 'income taxes have not been provided is approximately $ 2.9 billion .', 'the unrecognized deferred tax liability for these earnings is approximately $ 0.8 billion .', 'as of november 30 , 2012 , we have u.s .', 'net operating loss carryforwards of approximately $ 33.7 million for federal and $ 77.7 million for state .', 'we also have federal , state and foreign tax credit carryforwards of approximately $ 1.9 million , $ 18.0 million and $ 17.6 million , respectively .', 'the net operating loss carryforward assets , federal tax credits and foreign tax credits will expire in various years from fiscal 2017 through 2032 .', 'the state tax credit carryforwards can be carried forward indefinitely .', 'the net operating loss carryforward assets and certain credits are subject to an annual limitation under internal revenue code section 382 , but are expected to be fully realized .', 'in addition , we have been tracking certain deferred tax attributes of $ 45.0 million which have not been recorded in the financial statements pursuant to accounting standards related to stock-based compensation .', 'these amounts are no longer included in our gross or net deferred tax assets .', 'pursuant to these standards , the benefit of these deferred tax assets will be recorded to equity if and when they reduce taxes payable .', 'as of november 30 , 2012 , a valuation allowance of $ 28.2 million has been established for certain deferred tax assets related to the impairment of investments and certain foreign assets .', 'for fiscal 2012 , the total change in the valuation allowance was $ 23.0 million , of which $ 2.1 million was recorded as a tax benefit through the income statement .', 'accounting for uncertainty in income taxes during fiscal 2012 and 2011 , our aggregate changes in our total gross amount of unrecognized tax benefits are summarized as follows ( in thousands ) : .'] | ['as of november 30 , 2012 , 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 $ 12.5 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 2005 , 2006 and 2008 , respectively .', 'we regularly assess the likelihood of outcomes resulting from these examinations to determine the adequacy of our provision for income taxes and have reserved for potential adjustments that may result from the current examinations .', 'we believe such estimates to be reasonable ; however , there can be no assurance that the final determination of any of these examinations will not have an adverse effect on our operating results and financial position .', 'in august 2011 , a canadian income tax examination covering our fiscal years 2005 through 2008 was completed .', 'our accrued tax and interest related to these years was approximately $ 35 million and was previously reported in long-term income taxes payable .', 'we reclassified approximately $ 17 million to short-term income taxes payable and decreased deferred tax assets by approximately $ 18 million in conjunction with the aforementioned resolution .', 'the timing of the resolution of income tax examinations is highly uncertain as are the amounts and timing of tax payments that are part of any audit settlement process .', 'these events could cause large fluctuations in the balance sheet classification of current and non-current assets and liabilities .', 'the company believes that before the end of fiscal 2013 , it is reasonably possible table of contents adobe systems incorporated notes to consolidated financial statements ( continued ) .'] | ----------------------------------------
| 2012 | 2011
----------|----------|----------
beginning balance | $ 163607 | $ 156925
gross increases in unrecognized tax benefits 2013 prior year tax positions | 1038 | 11901
gross decreases in unrecognized tax benefits 2013 prior year tax positions | 2014 | -4154 ( 4154 )
gross increases in unrecognized tax benefits 2013 current year tax positions | 23771 | 32420
settlements with taxing authorities | -1754 ( 1754 ) | -29101 ( 29101 )
lapse of statute of limitations | -25387 ( 25387 ) | -3825 ( 3825 )
foreign exchange gains and losses | -807 ( 807 ) | -559 ( 559 )
ending balance | $ 160468 | $ 163607
---------------------------------------- | divide(2.1, 23.0) | 0.0913 |
what percent of total long-term debt is due in 2021? | Background: ['fidelity national information services , inc .', 'and subsidiaries notes to consolidated financial statements - ( continued ) the following summarizes the aggregate maturities of our debt and capital leases on stated contractual maturities , excluding unamortized non-cash bond premiums and discounts net of $ 30 million as of december 31 , 2017 ( in millions ) : .']
####
Tabular Data:
****************************************
• , total
• 2018, $ 1045
• 2019, 44
• 2020, 1157
• 2021, 1546
• 2022, 705
• thereafter, 4349
• total principal payments, 8846
• debt issuance costs net of accumulated amortization, -53 ( 53 )
• total long-term debt, $ 8793
****************************************
####
Additional Information: ['there are no mandatory principal payments on the revolving loan and any balance outstanding on the revolving loan will be due and payable at its scheduled maturity date , which occurs at august 10 , 2021 .', 'fis may redeem the 2018 notes , 2020 notes , 2021 notes , 2021 euro notes , 2022 notes , 2022 gbp notes , 2023 notes , 2024 notes , 2024 euro notes , 2025 notes , 2026 notes , and 2046 notes at its option in whole or in part , at any time and from time to time , at a redemption price equal to the greater of 100% ( 100 % ) of the principal amount to be redeemed and a make-whole amount calculated as described in the related indenture in each case plus accrued and unpaid interest to , but excluding , the date of redemption , provided no make-whole amount will be paid for redemptions of the 2020 notes , the 2021 notes , the 2021 euro notes and the 2022 gbp notes during the one month prior to their maturity , the 2022 notes during the two months prior to their maturity , the 2023 notes , the 2024 notes , the 2024 euro notes , the 2025 notes , and the 2026 notes during the three months prior to their maturity , and the 2046 notes during the six months prior to their maturity .', 'debt issuance costs of $ 53 million , net of accumulated amortization , remain capitalized as of december 31 , 2017 , related to all of the above outstanding debt .', 'we monitor the financial stability of our counterparties on an ongoing basis .', 'the lender commitments under the undrawn portions of the revolving loan are comprised of a diversified set of financial institutions , both domestic and international .', 'the failure of any single lender to perform its obligations under the revolving loan would not adversely impact our ability to fund operations .', 'the fair value of the company 2019s long-term debt is estimated to be approximately $ 156 million higher than the carrying value as of december 31 , 2017 .', 'this estimate is based on quoted prices of our senior notes and trades of our other debt in close proximity to december 31 , 2017 , which are considered level 2-type measurements .', 'this estimate is subjective in nature and involves uncertainties and significant judgment in the interpretation of current market data .', 'therefore , the values presented are not necessarily indicative of amounts the company could realize or settle currently. .'] | 0.17582 | FIS/2017/page_92.pdf-2 | ['fidelity national information services , inc .', 'and subsidiaries notes to consolidated financial statements - ( continued ) the following summarizes the aggregate maturities of our debt and capital leases on stated contractual maturities , excluding unamortized non-cash bond premiums and discounts net of $ 30 million as of december 31 , 2017 ( in millions ) : .'] | ['there are no mandatory principal payments on the revolving loan and any balance outstanding on the revolving loan will be due and payable at its scheduled maturity date , which occurs at august 10 , 2021 .', 'fis may redeem the 2018 notes , 2020 notes , 2021 notes , 2021 euro notes , 2022 notes , 2022 gbp notes , 2023 notes , 2024 notes , 2024 euro notes , 2025 notes , 2026 notes , and 2046 notes at its option in whole or in part , at any time and from time to time , at a redemption price equal to the greater of 100% ( 100 % ) of the principal amount to be redeemed and a make-whole amount calculated as described in the related indenture in each case plus accrued and unpaid interest to , but excluding , the date of redemption , provided no make-whole amount will be paid for redemptions of the 2020 notes , the 2021 notes , the 2021 euro notes and the 2022 gbp notes during the one month prior to their maturity , the 2022 notes during the two months prior to their maturity , the 2023 notes , the 2024 notes , the 2024 euro notes , the 2025 notes , and the 2026 notes during the three months prior to their maturity , and the 2046 notes during the six months prior to their maturity .', 'debt issuance costs of $ 53 million , net of accumulated amortization , remain capitalized as of december 31 , 2017 , related to all of the above outstanding debt .', 'we monitor the financial stability of our counterparties on an ongoing basis .', 'the lender commitments under the undrawn portions of the revolving loan are comprised of a diversified set of financial institutions , both domestic and international .', 'the failure of any single lender to perform its obligations under the revolving loan would not adversely impact our ability to fund operations .', 'the fair value of the company 2019s long-term debt is estimated to be approximately $ 156 million higher than the carrying value as of december 31 , 2017 .', 'this estimate is based on quoted prices of our senior notes and trades of our other debt in close proximity to december 31 , 2017 , which are considered level 2-type measurements .', 'this estimate is subjective in nature and involves uncertainties and significant judgment in the interpretation of current market data .', 'therefore , the values presented are not necessarily indicative of amounts the company could realize or settle currently. .'] | ****************************************
• , total
• 2018, $ 1045
• 2019, 44
• 2020, 1157
• 2021, 1546
• 2022, 705
• thereafter, 4349
• total principal payments, 8846
• debt issuance costs net of accumulated amortization, -53 ( 53 )
• total long-term debt, $ 8793
**************************************** | divide(1546, 8793) | 0.17582 |
what are the total contingent payments relating to impella? | Context: ['abiomed , inc .', 'and subsidiaries notes to consolidated financial statements 2014 ( continued ) note 14 .', 'income taxes ( continued ) on april 1 , 2007 , the company adopted financial interpretation fin no .', '48 , accounting for uncertainty in income taxes 2014an interpretation of fasb statement no .', '109 ( 201cfin no .', '48 201d ) , which clarifies the accounting for uncertainty in income taxes recognized in an enterprise 2019s financial statements in accordance with fasb statement no .', '109 , accounting for income taxes .', 'fin no .', '48 prescribes a recognition threshold and measurement process for recording in the financial statements uncertain tax positions taken or expected to be taken in a tax return .', 'fin no .', '48 also provides guidance on derecognition , classification , interest and penalties , accounting in interim periods , disclosure , and transition and defines the criteria that must be met for the benefits of a tax position to be recognized .', 'as a result of its adoption of fin no .', '48 , the company recorded the cumulative effect of the change in accounting principle of $ 0.3 million as a decrease to opening retained earnings and an increase to other long-term liabilities as of april 1 , 2007 .', 'this adjustment related to state nexus for failure to file tax returns in various states for the years ended march 31 , 2003 , 2004 , and 2005 .', 'the company initiated a voluntary disclosure plan , which it completed in fiscal year 2009 .', 'the company elected to recognize interest and/or penalties related to income tax matters in income tax expense in its consolidated statements of operations .', 'as of march 31 , 2009 , the company had remitted all outstanding amounts owed to each of the states in connection with the outstanding taxes owed at march 31 , 2008 .', 'as such , the company had no fin no .', '48 liability at march 31 , 2009 .', 'on a quarterly basis , the company accrues for the effects of uncertain tax positions and the related potential penalties and interest .', 'it is reasonably possible that the amount of the unrecognized tax benefit with respect to certain of the unrecognized tax positions will increase or decrease during the next 12 months ; however , it is not expected that the change will have a significant effect on the company 2019s results of operations or financial position .', 'a reconciliation of the beginning and ending balance of unrecognized tax benefits , excluding accrued interest recorded at march 31 , 2009 ( in thousands ) is as follows: .']
Table:
========================================
balance at march 31 2008 | $ 168
reductions for tax positions for closing of the applicable statute of limitations | -168 ( 168 )
balance at march 31 2009 | $ 2014
========================================
Post-table: ['the company and its subsidiaries are subject to u.s .', 'federal income tax , as well as income tax of multiple state and foreign jurisdictions .', 'the company has accumulated significant losses since its inception in 1981 .', 'all tax years remain subject to examination by major tax jurisdictions , including the federal government and the commonwealth of massachusetts .', 'however , since the company has net operating loss and tax credit carry forwards which may be utilized in future years to offset taxable income , those years may also be subject to review by relevant taxing authorities if the carry forwards are utilized .', 'note 15 .', 'commitments and contingencies the company 2019s acquisition of impella provided that abiomed was required to make contingent payments to impella 2019s former shareholders as follows : 2022 upon fda approval of the impella 2.5 device , a payment of $ 5583333 2022 upon fda approval of the impella 5.0 device , a payment of $ 5583333 , and 2022 upon the sale of 1000 units of impella 2019s products worldwide , a payment of $ 5583334 .', 'the two milestones related to sales and fda approval of the impella 2.5 device were achieved and paid prior to march 31 , 2009 .', 'in april 2009 , the company received fda 510 ( k ) clearance of its impella 5.0 product , triggering an obligation to pay the milestone related to the impella 5.0 device .', 'in may 2009 , the company paid $ 1.8 million of this final milestone in cash and elected to pay the remaining amount through the issuance of approximately 664612 shares of common stock. .'] | 16750002.0 | ABMD/2009/page_88.pdf-1 | ['abiomed , inc .', 'and subsidiaries notes to consolidated financial statements 2014 ( continued ) note 14 .', 'income taxes ( continued ) on april 1 , 2007 , the company adopted financial interpretation fin no .', '48 , accounting for uncertainty in income taxes 2014an interpretation of fasb statement no .', '109 ( 201cfin no .', '48 201d ) , which clarifies the accounting for uncertainty in income taxes recognized in an enterprise 2019s financial statements in accordance with fasb statement no .', '109 , accounting for income taxes .', 'fin no .', '48 prescribes a recognition threshold and measurement process for recording in the financial statements uncertain tax positions taken or expected to be taken in a tax return .', 'fin no .', '48 also provides guidance on derecognition , classification , interest and penalties , accounting in interim periods , disclosure , and transition and defines the criteria that must be met for the benefits of a tax position to be recognized .', 'as a result of its adoption of fin no .', '48 , the company recorded the cumulative effect of the change in accounting principle of $ 0.3 million as a decrease to opening retained earnings and an increase to other long-term liabilities as of april 1 , 2007 .', 'this adjustment related to state nexus for failure to file tax returns in various states for the years ended march 31 , 2003 , 2004 , and 2005 .', 'the company initiated a voluntary disclosure plan , which it completed in fiscal year 2009 .', 'the company elected to recognize interest and/or penalties related to income tax matters in income tax expense in its consolidated statements of operations .', 'as of march 31 , 2009 , the company had remitted all outstanding amounts owed to each of the states in connection with the outstanding taxes owed at march 31 , 2008 .', 'as such , the company had no fin no .', '48 liability at march 31 , 2009 .', 'on a quarterly basis , the company accrues for the effects of uncertain tax positions and the related potential penalties and interest .', 'it is reasonably possible that the amount of the unrecognized tax benefit with respect to certain of the unrecognized tax positions will increase or decrease during the next 12 months ; however , it is not expected that the change will have a significant effect on the company 2019s results of operations or financial position .', 'a reconciliation of the beginning and ending balance of unrecognized tax benefits , excluding accrued interest recorded at march 31 , 2009 ( in thousands ) is as follows: .'] | ['the company and its subsidiaries are subject to u.s .', 'federal income tax , as well as income tax of multiple state and foreign jurisdictions .', 'the company has accumulated significant losses since its inception in 1981 .', 'all tax years remain subject to examination by major tax jurisdictions , including the federal government and the commonwealth of massachusetts .', 'however , since the company has net operating loss and tax credit carry forwards which may be utilized in future years to offset taxable income , those years may also be subject to review by relevant taxing authorities if the carry forwards are utilized .', 'note 15 .', 'commitments and contingencies the company 2019s acquisition of impella provided that abiomed was required to make contingent payments to impella 2019s former shareholders as follows : 2022 upon fda approval of the impella 2.5 device , a payment of $ 5583333 2022 upon fda approval of the impella 5.0 device , a payment of $ 5583333 , and 2022 upon the sale of 1000 units of impella 2019s products worldwide , a payment of $ 5583334 .', 'the two milestones related to sales and fda approval of the impella 2.5 device were achieved and paid prior to march 31 , 2009 .', 'in april 2009 , the company received fda 510 ( k ) clearance of its impella 5.0 product , triggering an obligation to pay the milestone related to the impella 5.0 device .', 'in may 2009 , the company paid $ 1.8 million of this final milestone in cash and elected to pay the remaining amount through the issuance of approximately 664612 shares of common stock. .'] | ========================================
balance at march 31 2008 | $ 168
reductions for tax positions for closing of the applicable statute of limitations | -168 ( 168 )
balance at march 31 2009 | $ 2014
======================================== | multiply(5583334, const_3) | 16750002.0 |
brazilian paper sales represented what percentage of printing papers in 2006? | Context: ['printing papers net sales for 2006 decreased 3% ( 3 % ) from both 2005 and 2004 due principally to the sale of the u.s .', 'coated papers business in august 2006 .', 'however , operating profits in 2006 were 43% ( 43 % ) higher than in 2005 and 33% ( 33 % ) higher than in 2004 .', 'compared with 2005 , earnings improved for u.s .', 'uncoated papers , market pulp and european papers , but this was partially offset by earnings declines in brazilian papers .', 'benefits from higher average sales price realizations in the united states , europe and brazil ( $ 284 million ) , improved manufacturing operations ( $ 73 million ) , reduced lack-of-order downtime ( $ 41 million ) , higher sales volumes in europe ( $ 23 million ) , and other items ( $ 65 million ) were partially offset by higher raw material and energy costs ( $ 109 million ) , higher freight costs ( $ 45 million ) and an impairment charge to reduce the carrying value of the fixed assets at the saillat , france mill ( $ 128 million ) .', 'compared with 2004 , higher earnings in 2006 in the u.s .', 'uncoated papers , market pulp and coated papers businesses were offset by lower earn- ings in the european and brazilian papers busi- nesses .', 'the printing papers segment took 555000 tons of downtime in 2006 , including 150000 tons of lack-of-order downtime to align production with customer demand .', 'this compared with 970000 tons of total downtime in 2005 , of which 520000 tons related to lack-of-orders .', 'printing papers in millions 2006 2005 2004 .']
Data Table:
Row 1: in millions, 2006, 2005, 2004
Row 2: sales, $ 6930, $ 7170, $ 7135
Row 3: operating profit, $ 677, $ 473, $ 508
Post-table: ['u.s .', 'uncoated papers net sales in 2006 were $ 3.5 billion , compared with $ 3.2 billion in 2005 and $ 3.3 billion in 2004 .', 'sales volumes increased in 2006 over 2005 , particularly in cut-size paper and printing papers .', 'average sales price realizations increased significantly , reflecting benefits from price increases announced in late 2005 and early 2006 .', 'lack-of-order downtime declined from 450000 tons in 2005 to 40000 tons in 2006 , reflecting firm market demand and the impact of the permanent closure of three uncoated freesheet machines in 2005 .', 'operating earnings in 2006 more than doubled compared with both 2005 and 2004 .', 'the benefits of improved aver- age sales price realizations more than offset higher input costs for freight , wood and energy , which were all above 2005 levels .', 'mill operations were favorable compared with 2005 due to current-year improve- ments in machine performance , lower labor , chem- ical and energy consumption costs , as well as approximately $ 30 million of charges incurred in 2005 for machine shutdowns .', 'u.s .', 'coated papers net sales were $ 920 million in 2006 , $ 1.6 billion in 2005 and $ 1.4 billion in 2004 .', 'operating profits in 2006 were 26% ( 26 % ) lower than in 2005 .', 'a small operating loss was reported for the business in 2004 .', 'this business was sold in the third quarter of 2006 .', 'during the first two quarters of 2006 , sales volumes were up slightly versus 2005 .', 'average sales price realizations for coated freesheet paper and coated groundwood paper were higher than in 2005 , reflecting the impact of previously announced price increases .', 'however , input costs for energy , wood and other raw materials increased over 2005 levels .', 'manufacturing operations were favorable due to higher machine efficiency and mill cost savings .', 'u.s .', 'market pulp sales in 2006 were $ 509 mil- lion , compared with $ 526 million and $ 437 million in 2005 and 2004 , respectively .', 'sales volumes in 2006 were down from 2005 levels , primarily for paper and tissue pulp .', 'average sales price realizations were higher in 2006 , reflecting higher average prices for fluff pulp and bleached hardwood and softwood pulp .', 'operating earnings increased 30% ( 30 % ) from 2005 and more than 100% ( 100 % ) from 2004 principally due to the impact of the higher average sales prices .', 'input costs for wood and energy were higher in 2006 than in 2005 .', 'manufacturing operations were unfavorable , driven primarily by poor operations at our riegel- wood , north carolina mill .', 'brazil ian paper net sales for 2006 of $ 496 mil- lion were higher than the $ 465 million in 2005 and the $ 417 million in 2004 .', 'the sales increase in 2006 reflects higher sales volumes than in 2005 , partic- ularly for uncoated freesheet paper , and a strengthening of the brazilian currency versus the u.s .', 'dollar .', 'average sales price realizations improved in 2006 , primarily for uncoated freesheet paper and wood chips .', 'despite higher net sales , operating profits for 2006 of $ 122 million were down from $ 134 million in 2005 and $ 166 million in 2004 , due principally to incremental costs associated with an extended mill outage in mogi guacu to convert to an elemental-chlorine-free bleaching process , to rebuild the primary recovery boiler , and for other environmental upgrades .', 'european papers net sales in 2006 were $ 1.5 bil- lion , compared with $ 1.4 billion in 2005 and $ 1.5 bil- lion in 2004 .', 'sales volumes in 2006 were higher than in 2005 at our eastern european mills due to stron- ger market demand .', 'average sales price realizations increased in 2006 in both eastern and western european markets .', 'operating earnings in 2006 rose 20% ( 20 % ) from 2005 , but were 15% ( 15 % ) below 2004 levels .', 'the improvement in 2006 compared with 2005 .'] | 0.07157 | IP/2006/page_30.pdf-1 | ['printing papers net sales for 2006 decreased 3% ( 3 % ) from both 2005 and 2004 due principally to the sale of the u.s .', 'coated papers business in august 2006 .', 'however , operating profits in 2006 were 43% ( 43 % ) higher than in 2005 and 33% ( 33 % ) higher than in 2004 .', 'compared with 2005 , earnings improved for u.s .', 'uncoated papers , market pulp and european papers , but this was partially offset by earnings declines in brazilian papers .', 'benefits from higher average sales price realizations in the united states , europe and brazil ( $ 284 million ) , improved manufacturing operations ( $ 73 million ) , reduced lack-of-order downtime ( $ 41 million ) , higher sales volumes in europe ( $ 23 million ) , and other items ( $ 65 million ) were partially offset by higher raw material and energy costs ( $ 109 million ) , higher freight costs ( $ 45 million ) and an impairment charge to reduce the carrying value of the fixed assets at the saillat , france mill ( $ 128 million ) .', 'compared with 2004 , higher earnings in 2006 in the u.s .', 'uncoated papers , market pulp and coated papers businesses were offset by lower earn- ings in the european and brazilian papers busi- nesses .', 'the printing papers segment took 555000 tons of downtime in 2006 , including 150000 tons of lack-of-order downtime to align production with customer demand .', 'this compared with 970000 tons of total downtime in 2005 , of which 520000 tons related to lack-of-orders .', 'printing papers in millions 2006 2005 2004 .'] | ['u.s .', 'uncoated papers net sales in 2006 were $ 3.5 billion , compared with $ 3.2 billion in 2005 and $ 3.3 billion in 2004 .', 'sales volumes increased in 2006 over 2005 , particularly in cut-size paper and printing papers .', 'average sales price realizations increased significantly , reflecting benefits from price increases announced in late 2005 and early 2006 .', 'lack-of-order downtime declined from 450000 tons in 2005 to 40000 tons in 2006 , reflecting firm market demand and the impact of the permanent closure of three uncoated freesheet machines in 2005 .', 'operating earnings in 2006 more than doubled compared with both 2005 and 2004 .', 'the benefits of improved aver- age sales price realizations more than offset higher input costs for freight , wood and energy , which were all above 2005 levels .', 'mill operations were favorable compared with 2005 due to current-year improve- ments in machine performance , lower labor , chem- ical and energy consumption costs , as well as approximately $ 30 million of charges incurred in 2005 for machine shutdowns .', 'u.s .', 'coated papers net sales were $ 920 million in 2006 , $ 1.6 billion in 2005 and $ 1.4 billion in 2004 .', 'operating profits in 2006 were 26% ( 26 % ) lower than in 2005 .', 'a small operating loss was reported for the business in 2004 .', 'this business was sold in the third quarter of 2006 .', 'during the first two quarters of 2006 , sales volumes were up slightly versus 2005 .', 'average sales price realizations for coated freesheet paper and coated groundwood paper were higher than in 2005 , reflecting the impact of previously announced price increases .', 'however , input costs for energy , wood and other raw materials increased over 2005 levels .', 'manufacturing operations were favorable due to higher machine efficiency and mill cost savings .', 'u.s .', 'market pulp sales in 2006 were $ 509 mil- lion , compared with $ 526 million and $ 437 million in 2005 and 2004 , respectively .', 'sales volumes in 2006 were down from 2005 levels , primarily for paper and tissue pulp .', 'average sales price realizations were higher in 2006 , reflecting higher average prices for fluff pulp and bleached hardwood and softwood pulp .', 'operating earnings increased 30% ( 30 % ) from 2005 and more than 100% ( 100 % ) from 2004 principally due to the impact of the higher average sales prices .', 'input costs for wood and energy were higher in 2006 than in 2005 .', 'manufacturing operations were unfavorable , driven primarily by poor operations at our riegel- wood , north carolina mill .', 'brazil ian paper net sales for 2006 of $ 496 mil- lion were higher than the $ 465 million in 2005 and the $ 417 million in 2004 .', 'the sales increase in 2006 reflects higher sales volumes than in 2005 , partic- ularly for uncoated freesheet paper , and a strengthening of the brazilian currency versus the u.s .', 'dollar .', 'average sales price realizations improved in 2006 , primarily for uncoated freesheet paper and wood chips .', 'despite higher net sales , operating profits for 2006 of $ 122 million were down from $ 134 million in 2005 and $ 166 million in 2004 , due principally to incremental costs associated with an extended mill outage in mogi guacu to convert to an elemental-chlorine-free bleaching process , to rebuild the primary recovery boiler , and for other environmental upgrades .', 'european papers net sales in 2006 were $ 1.5 bil- lion , compared with $ 1.4 billion in 2005 and $ 1.5 bil- lion in 2004 .', 'sales volumes in 2006 were higher than in 2005 at our eastern european mills due to stron- ger market demand .', 'average sales price realizations increased in 2006 in both eastern and western european markets .', 'operating earnings in 2006 rose 20% ( 20 % ) from 2005 , but were 15% ( 15 % ) below 2004 levels .', 'the improvement in 2006 compared with 2005 .'] | Row 1: in millions, 2006, 2005, 2004
Row 2: sales, $ 6930, $ 7170, $ 7135
Row 3: operating profit, $ 677, $ 473, $ 508 | divide(496, 6930) | 0.07157 |
did 2015 adjusted ebitda increase more than 2015 actual ebitda? | Background: ['table of contents ( 2 ) includes capitalized lease obligations of $ 3.2 million and $ 0.1 million as of december 31 , 2015 and 2014 , respectively , which are included in other liabilities on the consolidated balance sheet .', '( 3 ) ebitda is defined as consolidated net income before interest expense , income tax expense , depreciation and amortization .', 'adjusted ebitda , which is a measure defined in our credit agreements , means ebitda adjusted for certain items which are described in the table below .', 'we have included a reconciliation of ebitda and adjusted ebitda in the table below .', 'both ebitda and adjusted ebitda are considered non-gaap financial measures .', 'generally , a non-gaap financial measure is a numerical measure of a company 2019s performance , financial position or cash flows that either excludes or includes amounts that are not normally included or excluded in the most directly comparable measure calculated and presented in accordance with gaap .', 'non-gaap measures used by us may differ from similar measures used by other companies , even when similar terms are used to identify such measures .', 'we believe that ebitda and adjusted ebitda provide helpful information with respect to our operating performance and cash flows including our ability to meet our future debt service , capital expenditures and working capital requirements .', 'adjusted ebitda is also the primary measure used in certain key covenants and definitions contained in the credit agreement governing our senior secured term loan facility ( 201cterm loan 201d ) , including the excess cash flow payment provision , the restricted payment covenant and the net leverage ratio .', 'these covenants and definitions are material components of the term loan as they are used in determining the interest rate applicable to the term loan , our ability to make certain investments , incur additional debt , and make restricted payments , such as dividends and share repurchases , as well as whether we are required to make additional principal prepayments on the term loan beyond the quarterly amortization payments .', 'for further details regarding the term loan , see note 8 ( long-term debt ) to the accompanying consolidated financial statements .', 'the following unaudited table sets forth reconciliations of net income to ebitda and ebitda to adjusted ebitda for the periods presented: .']
--------
Tabular Data:
========================================
( in millions ) | years ended december 31 , 2015 | years ended december 31 , 2014 | years ended december 31 , 2013 | years ended december 31 , 2012 | years ended december 31 , 2011
----------|----------|----------|----------|----------|----------
net income | $ 403.1 | $ 244.9 | $ 132.8 | $ 119.0 | $ 17.1
depreciation and amortization | 227.4 | 207.9 | 208.2 | 210.2 | 204.9
income tax expense | 243.9 | 142.8 | 62.7 | 67.1 | 11.2
interest expense net | 159.5 | 197.3 | 250.1 | 307.4 | 324.2
ebitda | 1033.9 | 792.9 | 653.8 | 703.7 | 557.4
non-cash equity-based compensation | 31.2 | 16.4 | 8.6 | 22.1 | 19.5
net loss on extinguishment of long-term debt ( a ) | 24.3 | 90.7 | 64.0 | 17.2 | 118.9
loss ( income ) from equity investments ( b ) | 10.1 | -2.2 ( 2.2 ) | -0.6 ( 0.6 ) | -0.3 ( 0.3 ) | -0.1 ( 0.1 )
acquisition and integration expenses ( c ) | 10.2 | 2014 | 2014 | 2014 | 2014
gain on remeasurement of equity investment ( d ) | -98.1 ( 98.1 ) | 2014 | 2014 | 2014 | 2014
other adjustments ( e ) | 6.9 | 9.2 | 82.7 | 23.9 | 21.6
adjusted ebitda ( f ) | $ 1018.5 | $ 907.0 | $ 808.5 | $ 766.6 | $ 717.3
========================================
--------
Additional Information: ['net loss on extinguishment of long-term debt ( a ) 24.3 90.7 64.0 17.2 118.9 loss ( income ) from equity investments ( b ) 10.1 ( 2.2 ) ( 0.6 ) ( 0.3 ) ( 0.1 ) acquisition and integration expenses ( c ) 10.2 2014 2014 2014 2014 gain on remeasurement of equity investment ( d ) ( 98.1 ) 2014 2014 2014 2014 other adjustments ( e ) 6.9 9.2 82.7 23.9 21.6 adjusted ebitda ( f ) $ 1018.5 $ 907.0 $ 808.5 $ 766.6 $ 717.3 ( a ) during the years ended december 31 , 2015 , 2014 , 2013 , 2012 , and 2011 , we recorded net losses on extinguishments of long-term debt .', 'the losses represented the difference between the amount paid upon extinguishment , including call premiums and expenses paid to the debt holders and agents , and the net carrying amount of the extinguished debt , adjusted for a portion of the unamortized deferred financing costs .', '( b ) represents our share of net income/loss from our equity investments .', 'our 35% ( 35 % ) share of kelway 2019s net loss includes our 35% ( 35 % ) share of an expense related to certain equity awards granted by one of the sellers to kelway coworkers in july 2015 prior to the acquisition .', '( c ) primarily includes expenses related to the acquisition of kelway .', '( d ) represents the gain resulting from the remeasurement of our previously held 35% ( 35 % ) equity investment to fair value upon the completion of the acquisition of kelway. .'] | no | CDW/2015/page_34.pdf-2 | ['table of contents ( 2 ) includes capitalized lease obligations of $ 3.2 million and $ 0.1 million as of december 31 , 2015 and 2014 , respectively , which are included in other liabilities on the consolidated balance sheet .', '( 3 ) ebitda is defined as consolidated net income before interest expense , income tax expense , depreciation and amortization .', 'adjusted ebitda , which is a measure defined in our credit agreements , means ebitda adjusted for certain items which are described in the table below .', 'we have included a reconciliation of ebitda and adjusted ebitda in the table below .', 'both ebitda and adjusted ebitda are considered non-gaap financial measures .', 'generally , a non-gaap financial measure is a numerical measure of a company 2019s performance , financial position or cash flows that either excludes or includes amounts that are not normally included or excluded in the most directly comparable measure calculated and presented in accordance with gaap .', 'non-gaap measures used by us may differ from similar measures used by other companies , even when similar terms are used to identify such measures .', 'we believe that ebitda and adjusted ebitda provide helpful information with respect to our operating performance and cash flows including our ability to meet our future debt service , capital expenditures and working capital requirements .', 'adjusted ebitda is also the primary measure used in certain key covenants and definitions contained in the credit agreement governing our senior secured term loan facility ( 201cterm loan 201d ) , including the excess cash flow payment provision , the restricted payment covenant and the net leverage ratio .', 'these covenants and definitions are material components of the term loan as they are used in determining the interest rate applicable to the term loan , our ability to make certain investments , incur additional debt , and make restricted payments , such as dividends and share repurchases , as well as whether we are required to make additional principal prepayments on the term loan beyond the quarterly amortization payments .', 'for further details regarding the term loan , see note 8 ( long-term debt ) to the accompanying consolidated financial statements .', 'the following unaudited table sets forth reconciliations of net income to ebitda and ebitda to adjusted ebitda for the periods presented: .'] | ['net loss on extinguishment of long-term debt ( a ) 24.3 90.7 64.0 17.2 118.9 loss ( income ) from equity investments ( b ) 10.1 ( 2.2 ) ( 0.6 ) ( 0.3 ) ( 0.1 ) acquisition and integration expenses ( c ) 10.2 2014 2014 2014 2014 gain on remeasurement of equity investment ( d ) ( 98.1 ) 2014 2014 2014 2014 other adjustments ( e ) 6.9 9.2 82.7 23.9 21.6 adjusted ebitda ( f ) $ 1018.5 $ 907.0 $ 808.5 $ 766.6 $ 717.3 ( a ) during the years ended december 31 , 2015 , 2014 , 2013 , 2012 , and 2011 , we recorded net losses on extinguishments of long-term debt .', 'the losses represented the difference between the amount paid upon extinguishment , including call premiums and expenses paid to the debt holders and agents , and the net carrying amount of the extinguished debt , adjusted for a portion of the unamortized deferred financing costs .', '( b ) represents our share of net income/loss from our equity investments .', 'our 35% ( 35 % ) share of kelway 2019s net loss includes our 35% ( 35 % ) share of an expense related to certain equity awards granted by one of the sellers to kelway coworkers in july 2015 prior to the acquisition .', '( c ) primarily includes expenses related to the acquisition of kelway .', '( d ) represents the gain resulting from the remeasurement of our previously held 35% ( 35 % ) equity investment to fair value upon the completion of the acquisition of kelway. .'] | ========================================
( in millions ) | years ended december 31 , 2015 | years ended december 31 , 2014 | years ended december 31 , 2013 | years ended december 31 , 2012 | years ended december 31 , 2011
----------|----------|----------|----------|----------|----------
net income | $ 403.1 | $ 244.9 | $ 132.8 | $ 119.0 | $ 17.1
depreciation and amortization | 227.4 | 207.9 | 208.2 | 210.2 | 204.9
income tax expense | 243.9 | 142.8 | 62.7 | 67.1 | 11.2
interest expense net | 159.5 | 197.3 | 250.1 | 307.4 | 324.2
ebitda | 1033.9 | 792.9 | 653.8 | 703.7 | 557.4
non-cash equity-based compensation | 31.2 | 16.4 | 8.6 | 22.1 | 19.5
net loss on extinguishment of long-term debt ( a ) | 24.3 | 90.7 | 64.0 | 17.2 | 118.9
loss ( income ) from equity investments ( b ) | 10.1 | -2.2 ( 2.2 ) | -0.6 ( 0.6 ) | -0.3 ( 0.3 ) | -0.1 ( 0.1 )
acquisition and integration expenses ( c ) | 10.2 | 2014 | 2014 | 2014 | 2014
gain on remeasurement of equity investment ( d ) | -98.1 ( 98.1 ) | 2014 | 2014 | 2014 | 2014
other adjustments ( e ) | 6.9 | 9.2 | 82.7 | 23.9 | 21.6
adjusted ebitda ( f ) | $ 1018.5 | $ 907.0 | $ 808.5 | $ 766.6 | $ 717.3
======================================== | subtract(1018.5, 907.0), subtract(1033.9, 792.9), greater(#0, #1) | no |
what percent would the balance by the end of 2018 increase if the unrecognized tax benefits were included? | Context: ['westrock company notes to consolidated financial statements fffd ( continued ) a reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows ( in millions ) : .']
##
Data Table:
----------------------------------------
• , 2018, 2017, 2016
• balance at beginning of fiscal year, $ 148.9, $ 166.8, $ 106.6
• additions related to purchase accounting ( 1 ), 3.4, 7.7, 16.5
• additions for tax positions taken in current year, 3.1, 5.0, 30.3
• additions for tax positions taken in prior fiscal years, 18.0, 15.2, 20.6
• reductions for tax positions taken in prior fiscal years, -5.3 ( 5.3 ), -25.6 ( 25.6 ), -9.7 ( 9.7 )
• reductions due to settlement ( 2 ), -29.4 ( 29.4 ), -14.1 ( 14.1 ), -1.3 ( 1.3 )
• ( reductions ) additions for currency translation adjustments, -9.6 ( 9.6 ), 2.0, 7.0
• reductions as a result of a lapse of the applicable statute oflimitations, -2.0 ( 2.0 ), -8.1 ( 8.1 ), -3.2 ( 3.2 )
• balance at end of fiscal year, $ 127.1, $ 148.9, $ 166.8
----------------------------------------
##
Additional Information: ['( 1 ) amounts in fiscal 2018 and 2017 relate to the mps acquisition .', 'adjustments in fiscal 2016 relate to the combination and the sp fiber acquisition .', '( 2 ) amounts in fiscal 2018 relate to the settlement of state audit examinations and federal and state amended returns filed related to affirmative adjustments for which a there was a reserve .', 'amounts in fiscal 2017 relate to the settlement of federal and state audit examinations with taxing authorities .', 'as of september 30 , 2018 and 2017 , the total amount of unrecognized tax benefits was approximately $ 127.1 million and $ 148.9 million , respectively , exclusive of interest and penalties .', 'of these balances , as of september 30 , 2018 and 2017 , if we were to prevail on all unrecognized tax benefits recorded , approximately $ 108.7 million and $ 138.0 million , respectively , would benefit the effective tax rate .', 'we regularly evaluate , assess and adjust the related liabilities in light of changing facts and circumstances , which could cause the effective tax rate to fluctuate from period to period .', 'we recognize estimated interest and penalties related to unrecognized tax benefits in income tax expense in the consolidated statements of operations .', 'as of september 30 , 2018 , we had liabilities of $ 70.4 million related to estimated interest and penalties for unrecognized tax benefits .', 'as of september 30 , 2017 , we had liabilities of $ 81.7 million , net of indirect benefits , related to estimated interest and penalties for unrecognized tax benefits .', 'our results of operations for the fiscal year ended september 30 , 2018 , 2017 and 2016 include expense of $ 5.8 million , $ 7.4 million and $ 2.9 million , respectively , net of indirect benefits , related to estimated interest and penalties with respect to the liability for unrecognized tax benefits .', 'as of september 30 , 2018 , it is reasonably possible that our unrecognized tax benefits will decrease by up to $ 5.5 million in the next twelve months due to expiration of various statues of limitations and settlement of issues .', 'we file federal , state and local income tax returns in the u.s .', 'and various foreign jurisdictions .', 'with few exceptions , we are no longer subject to u.s .', 'federal and state and local income tax examinations by tax authorities for years prior to fiscal 2015 and fiscal 2008 , respectively .', 'we are no longer subject to non-u.s .', 'income tax examinations by tax authorities for years prior to fiscal 2011 , except for brazil for which we are not subject to tax examinations for years prior to 2005 .', 'while we believe our tax positions are appropriate , they are subject to audit or other modifications and there can be no assurance that any modifications will not materially and adversely affect our results of operations , financial condition or cash flows .', 'note 6 .', 'segment information we report our financial results of operations in the following three reportable segments : corrugated packaging , which consists of our containerboard mill and corrugated packaging operations , as well as our recycling operations ; consumer packaging , which consists of consumer mills , folding carton , beverage , merchandising displays and partition operations ; and land and development , which sells real estate primarily in the charleston , sc region .', 'following the combination and until the completion of the separation , our financial results of operations had a fourth reportable segment , specialty chemicals .', 'prior to the hh&b sale , our consumer packaging segment included hh&b .', 'certain income and expenses are not allocated to our segments and , thus , the information that .'] | 1.94099 | WRK/2018/page_107.pdf-4 | ['westrock company notes to consolidated financial statements fffd ( continued ) a reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows ( in millions ) : .'] | ['( 1 ) amounts in fiscal 2018 and 2017 relate to the mps acquisition .', 'adjustments in fiscal 2016 relate to the combination and the sp fiber acquisition .', '( 2 ) amounts in fiscal 2018 relate to the settlement of state audit examinations and federal and state amended returns filed related to affirmative adjustments for which a there was a reserve .', 'amounts in fiscal 2017 relate to the settlement of federal and state audit examinations with taxing authorities .', 'as of september 30 , 2018 and 2017 , the total amount of unrecognized tax benefits was approximately $ 127.1 million and $ 148.9 million , respectively , exclusive of interest and penalties .', 'of these balances , as of september 30 , 2018 and 2017 , if we were to prevail on all unrecognized tax benefits recorded , approximately $ 108.7 million and $ 138.0 million , respectively , would benefit the effective tax rate .', 'we regularly evaluate , assess and adjust the related liabilities in light of changing facts and circumstances , which could cause the effective tax rate to fluctuate from period to period .', 'we recognize estimated interest and penalties related to unrecognized tax benefits in income tax expense in the consolidated statements of operations .', 'as of september 30 , 2018 , we had liabilities of $ 70.4 million related to estimated interest and penalties for unrecognized tax benefits .', 'as of september 30 , 2017 , we had liabilities of $ 81.7 million , net of indirect benefits , related to estimated interest and penalties for unrecognized tax benefits .', 'our results of operations for the fiscal year ended september 30 , 2018 , 2017 and 2016 include expense of $ 5.8 million , $ 7.4 million and $ 2.9 million , respectively , net of indirect benefits , related to estimated interest and penalties with respect to the liability for unrecognized tax benefits .', 'as of september 30 , 2018 , it is reasonably possible that our unrecognized tax benefits will decrease by up to $ 5.5 million in the next twelve months due to expiration of various statues of limitations and settlement of issues .', 'we file federal , state and local income tax returns in the u.s .', 'and various foreign jurisdictions .', 'with few exceptions , we are no longer subject to u.s .', 'federal and state and local income tax examinations by tax authorities for years prior to fiscal 2015 and fiscal 2008 , respectively .', 'we are no longer subject to non-u.s .', 'income tax examinations by tax authorities for years prior to fiscal 2011 , except for brazil for which we are not subject to tax examinations for years prior to 2005 .', 'while we believe our tax positions are appropriate , they are subject to audit or other modifications and there can be no assurance that any modifications will not materially and adversely affect our results of operations , financial condition or cash flows .', 'note 6 .', 'segment information we report our financial results of operations in the following three reportable segments : corrugated packaging , which consists of our containerboard mill and corrugated packaging operations , as well as our recycling operations ; consumer packaging , which consists of consumer mills , folding carton , beverage , merchandising displays and partition operations ; and land and development , which sells real estate primarily in the charleston , sc region .', 'following the combination and until the completion of the separation , our financial results of operations had a fourth reportable segment , specialty chemicals .', 'prior to the hh&b sale , our consumer packaging segment included hh&b .', 'certain income and expenses are not allocated to our segments and , thus , the information that .'] | ----------------------------------------
• , 2018, 2017, 2016
• balance at beginning of fiscal year, $ 148.9, $ 166.8, $ 106.6
• additions related to purchase accounting ( 1 ), 3.4, 7.7, 16.5
• additions for tax positions taken in current year, 3.1, 5.0, 30.3
• additions for tax positions taken in prior fiscal years, 18.0, 15.2, 20.6
• reductions for tax positions taken in prior fiscal years, -5.3 ( 5.3 ), -25.6 ( 25.6 ), -9.7 ( 9.7 )
• reductions due to settlement ( 2 ), -29.4 ( 29.4 ), -14.1 ( 14.1 ), -1.3 ( 1.3 )
• ( reductions ) additions for currency translation adjustments, -9.6 ( 9.6 ), 2.0, 7.0
• reductions as a result of a lapse of the applicable statute oflimitations, -2.0 ( 2.0 ), -8.1 ( 8.1 ), -3.2 ( 3.2 )
• balance at end of fiscal year, $ 127.1, $ 148.9, $ 166.8
---------------------------------------- | add(108.7, 138.0), add(#0, 127.1), subtract(#1, 127.1), divide(#2, 127.1) | 1.94099 |
what was the total fair value building that cytyc had finished constructing in 2008 including the fair market value of the land? | Context: ['table of contents hologic , inc .', 'notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) location during fiscal 2009 .', 'the company was responsible for a significant portion of the construction costs and therefore was deemed , for accounting purposes , to be the owner of the building during the construction period , in accordance with asc 840 , leases , subsection 40-15-5 .', 'during the year ended september 27 , 2008 , the company recorded an additional $ 4400 in fair market value of the building , which was completed in fiscal 2008 .', 'this is in addition to the $ 3000 fair market value of the land and the $ 7700 fair market value related to the building constructed that cytyc had recorded as of october 22 , 2007 .', 'the company has recorded such fair market value within property and equipment on its consolidated balance sheets .', 'at september 26 , 2009 , the company has recorded $ 1508 in accrued expenses and $ 16329 in other long-term liabilities related to this obligation in the consolidated balance sheet .', 'the term of the lease is for a period of approximately ten years with the option to extend for two consecutive five-year terms .', 'the lease term commenced in may 2008 , at which time the company began transferring the company 2019s costa rican operations to this facility .', 'it is expected that this process will be complete by february 2009 .', 'at the completion of the construction period , the company reviewed the lease for potential sale-leaseback treatment in accordance with asc 840 , subsection 40 , sale-leaseback transactions ( formerly sfas no .', '98 ( 201csfas 98 201d ) , accounting for leases : sale-leaseback transactions involving real estate , sales-type leases of real estate , definition of the lease term , and initial direct costs of direct financing leases 2014an amendment of financial accounting standards board ( 201cfasb 201d ) statements no .', '13 , 66 , and 91 and a rescission of fasb statement no .', '26 and technical bulletin no .', '79-11 ) .', 'based on its analysis , the company determined that the lease did not qualify for sale-leaseback treatment .', 'therefore , the building , leasehold improvements and associated liabilities will remain on the company 2019s financial statements throughout the lease term , and the building and leasehold improvements will be depreciated on a straight line basis over their estimated useful lives of 35 years .', 'future minimum lease payments , including principal and interest , under this lease were as follows at september 26 , 2009: .']
--
Data Table:
----------------------------------------
• , amount
• fiscal 2010, $ 1508
• fiscal 2011, 1561
• fiscal 2012, 1616
• fiscal 2013, 1672
• fiscal 2014, 1731
• thereafter, 7288
• total minimum payments, 15376
• less-amount representing interest, -6094 ( 6094 )
• total, $ 9282
----------------------------------------
--
Follow-up: ['in addition , as a result of the merger with cytyc , the company assumed the obligation to a non-cancelable lease agreement for a building with approximately 146000 square feet located in marlborough , massachusetts , to be principally used as an additional manufacturing facility .', 'in 2011 , the company will have an option to lease an additional 30000 square feet .', 'as part of the lease agreement , the lessor agreed to allow the company to make significant renovations to the facility to prepare the facility for the company 2019s manufacturing needs .', 'the company was responsible for a significant amount of the construction costs and therefore was deemed , for accounting purposes , to be the owner of the building during the construction period in accordance with asc 840-40-15-5 .', 'the $ 13200 fair market value of the facility is included within property and equipment , net on the consolidated balance sheet .', 'at september 26 , 2009 , the company has recorded $ 982 in accrued expenses and source : hologic inc , 10-k , november 24 , 2009 powered by morningstar ae document research 2120 the information contained herein may not be copied , adapted or distributed and is not warranted to be accurate , complete or timely .', 'the user assumes all risks for any damages or losses arising from any use of this information , except to the extent such damages or losses cannot be limited or excluded by applicable law .', 'past financial performance is no guarantee of future results. .'] | 15100.0 | HOLX/2009/page_153.pdf-4 | ['table of contents hologic , inc .', 'notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) location during fiscal 2009 .', 'the company was responsible for a significant portion of the construction costs and therefore was deemed , for accounting purposes , to be the owner of the building during the construction period , in accordance with asc 840 , leases , subsection 40-15-5 .', 'during the year ended september 27 , 2008 , the company recorded an additional $ 4400 in fair market value of the building , which was completed in fiscal 2008 .', 'this is in addition to the $ 3000 fair market value of the land and the $ 7700 fair market value related to the building constructed that cytyc had recorded as of october 22 , 2007 .', 'the company has recorded such fair market value within property and equipment on its consolidated balance sheets .', 'at september 26 , 2009 , the company has recorded $ 1508 in accrued expenses and $ 16329 in other long-term liabilities related to this obligation in the consolidated balance sheet .', 'the term of the lease is for a period of approximately ten years with the option to extend for two consecutive five-year terms .', 'the lease term commenced in may 2008 , at which time the company began transferring the company 2019s costa rican operations to this facility .', 'it is expected that this process will be complete by february 2009 .', 'at the completion of the construction period , the company reviewed the lease for potential sale-leaseback treatment in accordance with asc 840 , subsection 40 , sale-leaseback transactions ( formerly sfas no .', '98 ( 201csfas 98 201d ) , accounting for leases : sale-leaseback transactions involving real estate , sales-type leases of real estate , definition of the lease term , and initial direct costs of direct financing leases 2014an amendment of financial accounting standards board ( 201cfasb 201d ) statements no .', '13 , 66 , and 91 and a rescission of fasb statement no .', '26 and technical bulletin no .', '79-11 ) .', 'based on its analysis , the company determined that the lease did not qualify for sale-leaseback treatment .', 'therefore , the building , leasehold improvements and associated liabilities will remain on the company 2019s financial statements throughout the lease term , and the building and leasehold improvements will be depreciated on a straight line basis over their estimated useful lives of 35 years .', 'future minimum lease payments , including principal and interest , under this lease were as follows at september 26 , 2009: .'] | ['in addition , as a result of the merger with cytyc , the company assumed the obligation to a non-cancelable lease agreement for a building with approximately 146000 square feet located in marlborough , massachusetts , to be principally used as an additional manufacturing facility .', 'in 2011 , the company will have an option to lease an additional 30000 square feet .', 'as part of the lease agreement , the lessor agreed to allow the company to make significant renovations to the facility to prepare the facility for the company 2019s manufacturing needs .', 'the company was responsible for a significant amount of the construction costs and therefore was deemed , for accounting purposes , to be the owner of the building during the construction period in accordance with asc 840-40-15-5 .', 'the $ 13200 fair market value of the facility is included within property and equipment , net on the consolidated balance sheet .', 'at september 26 , 2009 , the company has recorded $ 982 in accrued expenses and source : hologic inc , 10-k , november 24 , 2009 powered by morningstar ae document research 2120 the information contained herein may not be copied , adapted or distributed and is not warranted to be accurate , complete or timely .', 'the user assumes all risks for any damages or losses arising from any use of this information , except to the extent such damages or losses cannot be limited or excluded by applicable law .', 'past financial performance is no guarantee of future results. .'] | ----------------------------------------
• , amount
• fiscal 2010, $ 1508
• fiscal 2011, 1561
• fiscal 2012, 1616
• fiscal 2013, 1672
• fiscal 2014, 1731
• thereafter, 7288
• total minimum payments, 15376
• less-amount representing interest, -6094 ( 6094 )
• total, $ 9282
---------------------------------------- | add(3000, 4400), add(7700, #0) | 15100.0 |
what was the ratio of the s&p index to the e*trade financial corporation cumulative total return to a holder of the company 2019s common stock compared as of 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. .']
Table:
Row 1: , 12/09, 12/10, 12/11, 12/12, 12/13, 12/14
Row 2: e*trade financial corporation, 100.00, 90.91, 45.23, 50.85, 111.59, 137.81
Row 3: s&p 500 index, 100.00, 115.06, 117.49, 136.30, 180.44, 205.14
Row 4: dow jones us financials index, 100.00, 112.72, 98.24, 124.62, 167.26, 191.67
Post-table: ['table of contents .'] | 1.48857 | ETFC/2014/page_26.pdf-3 | ['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 .'] | Row 1: , 12/09, 12/10, 12/11, 12/12, 12/13, 12/14
Row 2: e*trade financial corporation, 100.00, 90.91, 45.23, 50.85, 111.59, 137.81
Row 3: s&p 500 index, 100.00, 115.06, 117.49, 136.30, 180.44, 205.14
Row 4: dow jones us financials index, 100.00, 112.72, 98.24, 124.62, 167.26, 191.67 | divide(205.14, 137.81) | 1.48857 |
in 2017 what percentage of foreign currency transaction gains were attributable to philippines? | Pre-text: ['foreign currency transaction gains ( losses ) foreign currency transaction gains ( losses ) in millions were as follows: .']
Table:
----------------------------------------
years ended december 31, | 2017 | 2016 | 2015
----------|----------|----------|----------
mexico | $ 17 | $ -8 ( 8 ) | $ -6 ( 6 )
philippines | 15 | 12 | 8
bulgaria | 14 | -8 ( 8 ) | 3
chile | 8 | -9 ( 9 ) | -18 ( 18 )
aes corporation | 3 | -50 ( 50 ) | -31 ( 31 )
argentina | 1 | 37 | 124
united kingdom | -3 ( 3 ) | 13 | 11
colombia | -23 ( 23 ) | -8 ( 8 ) | 29
other | 10 | 6 | -14 ( 14 )
total ( 1 ) | $ 42 | $ -15 ( 15 ) | $ 106
----------------------------------------
Post-table: ['total ( 1 ) $ 42 $ ( 15 ) $ 106 _____________________________ ( 1 ) includes gains of $ 21 million , $ 17 million and $ 247 million on foreign currency derivative contracts for the years ended december 31 , 2017 , 2016 and 2015 , respectively .', 'the company recognized net foreign currency transaction gains of $ 42 million for the year ended december 31 , 2017 primarily driven by transactions associated with vat activity in mexico , the amortization of frozen embedded derivatives in the philippines , and appreciation of the euro in bulgaria .', 'these gains were partially offset by unfavorable foreign currency derivatives in colombia .', 'the company recognized net foreign currency transaction losses of $ 15 million for the year ended december 31 , 2016 primarily due to remeasurement losses on intercompany notes , and losses on swaps and options at the aes corporation .', 'this loss was partially offset in argentina , mainly due to the favorable impact of foreign currency derivatives related to government receivables .', 'the company recognized net foreign currency transaction gains of $ 106 million for the year ended december 31 , 2015 primarily due to foreign currency derivatives related to government receivables in argentina and depreciation of the colombian peso in colombia .', 'these gains were partially offset due to decreases in the valuation of intercompany notes at the aes corporation and unfavorable devaluation of the chilean peso in chile .', 'income tax expense income tax expense increased $ 958 million to $ 990 million in 2017 as compared to 2016 .', "the company's effective tax rates were 128% ( 128 % ) and 17% ( 17 % ) for the years ended december 31 , 2017 and 2016 , respectively .", 'the net increase in the 2017 effective tax rate was due primarily to expense related to the u.s .', 'tax reform one-time transition tax and remeasurement of deferred tax assets .', 'further , the 2016 rate was impacted by the items described below .', 'income tax expense decreased $ 380 million to $ 32 million in 2016 as compared to 2015 .', "the company's effective tax rates were 17% ( 17 % ) and 42% ( 42 % ) for the years ended december 31 , 2016 and 2015 , respectively .", 'the net decrease in the 2016 effective tax rate was due , in part , to the 2016 asset impairments in the u.s. , as well as the devaluation of the peso in certain of our mexican subsidiaries and the release of valuation allowance at certain of our brazilian subsidiaries .', 'these favorable items were partially offset by the unfavorable impact of chilean income tax law reform enacted during the first quarter of 2016 .', 'further , the 2015 rate was due , in part , to the nondeductible 2015 impairment of goodwill at dp&l and chilean withholding taxes offset by the release of valuation allowance at certain of our businesses in brazil , vietnam and the u.s .', 'see note 19 2014asset impairment expense included in item 8 . 2014financial statements and supplementary data of this form 10-k for additional information regarding the 2016 u.s .', 'asset impairments .', 'see note 20 2014income taxes included in item 8 . 2014financial statements and supplementary data of this form 10-k for additional information regarding the 2016 chilean income tax law reform .', 'our effective tax rate reflects the tax effect of significant operations outside the u.s. , which are generally taxed at rates different than the u.s .', 'statutory rate .', 'foreign earnings may be taxed at rates higher than the new u.s .', 'corporate rate of 21% ( 21 % ) and a greater portion of our foreign earnings may be subject to current u.s .', 'taxation under the new tax rules .', 'a future proportionate change in the composition of income before income taxes from foreign and domestic tax jurisdictions could impact our periodic effective tax rate .', 'the company also benefits from reduced tax rates in certain countries as a result of satisfying specific commitments regarding employment and capital investment .', 'see note 20 2014income taxes included in item 8 . 2014financial statements and supplementary data of this form 10-k for additional information regarding these reduced rates. .'] | 0.35714 | AES/2017/page_85.pdf-2 | ['foreign currency transaction gains ( losses ) foreign currency transaction gains ( losses ) in millions were as follows: .'] | ['total ( 1 ) $ 42 $ ( 15 ) $ 106 _____________________________ ( 1 ) includes gains of $ 21 million , $ 17 million and $ 247 million on foreign currency derivative contracts for the years ended december 31 , 2017 , 2016 and 2015 , respectively .', 'the company recognized net foreign currency transaction gains of $ 42 million for the year ended december 31 , 2017 primarily driven by transactions associated with vat activity in mexico , the amortization of frozen embedded derivatives in the philippines , and appreciation of the euro in bulgaria .', 'these gains were partially offset by unfavorable foreign currency derivatives in colombia .', 'the company recognized net foreign currency transaction losses of $ 15 million for the year ended december 31 , 2016 primarily due to remeasurement losses on intercompany notes , and losses on swaps and options at the aes corporation .', 'this loss was partially offset in argentina , mainly due to the favorable impact of foreign currency derivatives related to government receivables .', 'the company recognized net foreign currency transaction gains of $ 106 million for the year ended december 31 , 2015 primarily due to foreign currency derivatives related to government receivables in argentina and depreciation of the colombian peso in colombia .', 'these gains were partially offset due to decreases in the valuation of intercompany notes at the aes corporation and unfavorable devaluation of the chilean peso in chile .', 'income tax expense income tax expense increased $ 958 million to $ 990 million in 2017 as compared to 2016 .', "the company's effective tax rates were 128% ( 128 % ) and 17% ( 17 % ) for the years ended december 31 , 2017 and 2016 , respectively .", 'the net increase in the 2017 effective tax rate was due primarily to expense related to the u.s .', 'tax reform one-time transition tax and remeasurement of deferred tax assets .', 'further , the 2016 rate was impacted by the items described below .', 'income tax expense decreased $ 380 million to $ 32 million in 2016 as compared to 2015 .', "the company's effective tax rates were 17% ( 17 % ) and 42% ( 42 % ) for the years ended december 31 , 2016 and 2015 , respectively .", 'the net decrease in the 2016 effective tax rate was due , in part , to the 2016 asset impairments in the u.s. , as well as the devaluation of the peso in certain of our mexican subsidiaries and the release of valuation allowance at certain of our brazilian subsidiaries .', 'these favorable items were partially offset by the unfavorable impact of chilean income tax law reform enacted during the first quarter of 2016 .', 'further , the 2015 rate was due , in part , to the nondeductible 2015 impairment of goodwill at dp&l and chilean withholding taxes offset by the release of valuation allowance at certain of our businesses in brazil , vietnam and the u.s .', 'see note 19 2014asset impairment expense included in item 8 . 2014financial statements and supplementary data of this form 10-k for additional information regarding the 2016 u.s .', 'asset impairments .', 'see note 20 2014income taxes included in item 8 . 2014financial statements and supplementary data of this form 10-k for additional information regarding the 2016 chilean income tax law reform .', 'our effective tax rate reflects the tax effect of significant operations outside the u.s. , which are generally taxed at rates different than the u.s .', 'statutory rate .', 'foreign earnings may be taxed at rates higher than the new u.s .', 'corporate rate of 21% ( 21 % ) and a greater portion of our foreign earnings may be subject to current u.s .', 'taxation under the new tax rules .', 'a future proportionate change in the composition of income before income taxes from foreign and domestic tax jurisdictions could impact our periodic effective tax rate .', 'the company also benefits from reduced tax rates in certain countries as a result of satisfying specific commitments regarding employment and capital investment .', 'see note 20 2014income taxes included in item 8 . 2014financial statements and supplementary data of this form 10-k for additional information regarding these reduced rates. .'] | ----------------------------------------
years ended december 31, | 2017 | 2016 | 2015
----------|----------|----------|----------
mexico | $ 17 | $ -8 ( 8 ) | $ -6 ( 6 )
philippines | 15 | 12 | 8
bulgaria | 14 | -8 ( 8 ) | 3
chile | 8 | -9 ( 9 ) | -18 ( 18 )
aes corporation | 3 | -50 ( 50 ) | -31 ( 31 )
argentina | 1 | 37 | 124
united kingdom | -3 ( 3 ) | 13 | 11
colombia | -23 ( 23 ) | -8 ( 8 ) | 29
other | 10 | 6 | -14 ( 14 )
total ( 1 ) | $ 42 | $ -15 ( 15 ) | $ 106
---------------------------------------- | divide(15, 42) | 0.35714 |
by what percent did the balance of tax benefits increase between the beginning of 2016 and the end of 2018? | Background: ['westrock company notes to consolidated financial statements fffd ( continued ) a reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows ( in millions ) : .']
----------
Table:
----------------------------------------
| 2018 | 2017 | 2016
balance at beginning of fiscal year | $ 148.9 | $ 166.8 | $ 106.6
additions related to purchase accounting ( 1 ) | 3.4 | 7.7 | 16.5
additions for tax positions taken in current year | 3.1 | 5.0 | 30.3
additions for tax positions taken in prior fiscal years | 18.0 | 15.2 | 20.6
reductions for tax positions taken in prior fiscal years | -5.3 ( 5.3 ) | -25.6 ( 25.6 ) | -9.7 ( 9.7 )
reductions due to settlement ( 2 ) | -29.4 ( 29.4 ) | -14.1 ( 14.1 ) | -1.3 ( 1.3 )
( reductions ) additions for currency translation adjustments | -9.6 ( 9.6 ) | 2.0 | 7.0
reductions as a result of a lapse of the applicable statute oflimitations | -2.0 ( 2.0 ) | -8.1 ( 8.1 ) | -3.2 ( 3.2 )
balance at end of fiscal year | $ 127.1 | $ 148.9 | $ 166.8
----------------------------------------
----------
Post-table: ['( 1 ) amounts in fiscal 2018 and 2017 relate to the mps acquisition .', 'adjustments in fiscal 2016 relate to the combination and the sp fiber acquisition .', '( 2 ) amounts in fiscal 2018 relate to the settlement of state audit examinations and federal and state amended returns filed related to affirmative adjustments for which a there was a reserve .', 'amounts in fiscal 2017 relate to the settlement of federal and state audit examinations with taxing authorities .', 'as of september 30 , 2018 and 2017 , the total amount of unrecognized tax benefits was approximately $ 127.1 million and $ 148.9 million , respectively , exclusive of interest and penalties .', 'of these balances , as of september 30 , 2018 and 2017 , if we were to prevail on all unrecognized tax benefits recorded , approximately $ 108.7 million and $ 138.0 million , respectively , would benefit the effective tax rate .', 'we regularly evaluate , assess and adjust the related liabilities in light of changing facts and circumstances , which could cause the effective tax rate to fluctuate from period to period .', 'we recognize estimated interest and penalties related to unrecognized tax benefits in income tax expense in the consolidated statements of operations .', 'as of september 30 , 2018 , we had liabilities of $ 70.4 million related to estimated interest and penalties for unrecognized tax benefits .', 'as of september 30 , 2017 , we had liabilities of $ 81.7 million , net of indirect benefits , related to estimated interest and penalties for unrecognized tax benefits .', 'our results of operations for the fiscal year ended september 30 , 2018 , 2017 and 2016 include expense of $ 5.8 million , $ 7.4 million and $ 2.9 million , respectively , net of indirect benefits , related to estimated interest and penalties with respect to the liability for unrecognized tax benefits .', 'as of september 30 , 2018 , it is reasonably possible that our unrecognized tax benefits will decrease by up to $ 5.5 million in the next twelve months due to expiration of various statues of limitations and settlement of issues .', 'we file federal , state and local income tax returns in the u.s .', 'and various foreign jurisdictions .', 'with few exceptions , we are no longer subject to u.s .', 'federal and state and local income tax examinations by tax authorities for years prior to fiscal 2015 and fiscal 2008 , respectively .', 'we are no longer subject to non-u.s .', 'income tax examinations by tax authorities for years prior to fiscal 2011 , except for brazil for which we are not subject to tax examinations for years prior to 2005 .', 'while we believe our tax positions are appropriate , they are subject to audit or other modifications and there can be no assurance that any modifications will not materially and adversely affect our results of operations , financial condition or cash flows .', 'note 6 .', 'segment information we report our financial results of operations in the following three reportable segments : corrugated packaging , which consists of our containerboard mill and corrugated packaging operations , as well as our recycling operations ; consumer packaging , which consists of consumer mills , folding carton , beverage , merchandising displays and partition operations ; and land and development , which sells real estate primarily in the charleston , sc region .', 'following the combination and until the completion of the separation , our financial results of operations had a fourth reportable segment , specialty chemicals .', 'prior to the hh&b sale , our consumer packaging segment included hh&b .', 'certain income and expenses are not allocated to our segments and , thus , the information that .'] | 0.19231 | WRK/2018/page_107.pdf-1 | ['westrock company notes to consolidated financial statements fffd ( continued ) a reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows ( in millions ) : .'] | ['( 1 ) amounts in fiscal 2018 and 2017 relate to the mps acquisition .', 'adjustments in fiscal 2016 relate to the combination and the sp fiber acquisition .', '( 2 ) amounts in fiscal 2018 relate to the settlement of state audit examinations and federal and state amended returns filed related to affirmative adjustments for which a there was a reserve .', 'amounts in fiscal 2017 relate to the settlement of federal and state audit examinations with taxing authorities .', 'as of september 30 , 2018 and 2017 , the total amount of unrecognized tax benefits was approximately $ 127.1 million and $ 148.9 million , respectively , exclusive of interest and penalties .', 'of these balances , as of september 30 , 2018 and 2017 , if we were to prevail on all unrecognized tax benefits recorded , approximately $ 108.7 million and $ 138.0 million , respectively , would benefit the effective tax rate .', 'we regularly evaluate , assess and adjust the related liabilities in light of changing facts and circumstances , which could cause the effective tax rate to fluctuate from period to period .', 'we recognize estimated interest and penalties related to unrecognized tax benefits in income tax expense in the consolidated statements of operations .', 'as of september 30 , 2018 , we had liabilities of $ 70.4 million related to estimated interest and penalties for unrecognized tax benefits .', 'as of september 30 , 2017 , we had liabilities of $ 81.7 million , net of indirect benefits , related to estimated interest and penalties for unrecognized tax benefits .', 'our results of operations for the fiscal year ended september 30 , 2018 , 2017 and 2016 include expense of $ 5.8 million , $ 7.4 million and $ 2.9 million , respectively , net of indirect benefits , related to estimated interest and penalties with respect to the liability for unrecognized tax benefits .', 'as of september 30 , 2018 , it is reasonably possible that our unrecognized tax benefits will decrease by up to $ 5.5 million in the next twelve months due to expiration of various statues of limitations and settlement of issues .', 'we file federal , state and local income tax returns in the u.s .', 'and various foreign jurisdictions .', 'with few exceptions , we are no longer subject to u.s .', 'federal and state and local income tax examinations by tax authorities for years prior to fiscal 2015 and fiscal 2008 , respectively .', 'we are no longer subject to non-u.s .', 'income tax examinations by tax authorities for years prior to fiscal 2011 , except for brazil for which we are not subject to tax examinations for years prior to 2005 .', 'while we believe our tax positions are appropriate , they are subject to audit or other modifications and there can be no assurance that any modifications will not materially and adversely affect our results of operations , financial condition or cash flows .', 'note 6 .', 'segment information we report our financial results of operations in the following three reportable segments : corrugated packaging , which consists of our containerboard mill and corrugated packaging operations , as well as our recycling operations ; consumer packaging , which consists of consumer mills , folding carton , beverage , merchandising displays and partition operations ; and land and development , which sells real estate primarily in the charleston , sc region .', 'following the combination and until the completion of the separation , our financial results of operations had a fourth reportable segment , specialty chemicals .', 'prior to the hh&b sale , our consumer packaging segment included hh&b .', 'certain income and expenses are not allocated to our segments and , thus , the information that .'] | ----------------------------------------
| 2018 | 2017 | 2016
balance at beginning of fiscal year | $ 148.9 | $ 166.8 | $ 106.6
additions related to purchase accounting ( 1 ) | 3.4 | 7.7 | 16.5
additions for tax positions taken in current year | 3.1 | 5.0 | 30.3
additions for tax positions taken in prior fiscal years | 18.0 | 15.2 | 20.6
reductions for tax positions taken in prior fiscal years | -5.3 ( 5.3 ) | -25.6 ( 25.6 ) | -9.7 ( 9.7 )
reductions due to settlement ( 2 ) | -29.4 ( 29.4 ) | -14.1 ( 14.1 ) | -1.3 ( 1.3 )
( reductions ) additions for currency translation adjustments | -9.6 ( 9.6 ) | 2.0 | 7.0
reductions as a result of a lapse of the applicable statute oflimitations | -2.0 ( 2.0 ) | -8.1 ( 8.1 ) | -3.2 ( 3.2 )
balance at end of fiscal year | $ 127.1 | $ 148.9 | $ 166.8
---------------------------------------- | subtract(127.1, 106.6), divide(#0, 106.6) | 0.19231 |
what was the effect in difference of average borrowing rate due to the use of swaps in 2012? | Background: ['morgan stanley notes to consolidated financial statements 2014 ( continued ) consumer price index ) .', 'senior debt also may be structured to be callable by the company or extendible at the option of holders of the senior debt securities .', 'debt containing provisions that effectively allow the holders to put or extend the notes aggregated $ 1175 million at december 31 , 2013 and $ 1131 million at december 31 , 2012 .', 'in addition , separate agreements are entered into by the company 2019s subsidiaries that effectively allow the holders to put the notes aggregated $ 353 million at december 31 , 2013 and $ 1895 million at december 31 , 2012 .', 'subordinated debt and junior subordinated debentures generally are issued to meet the capital requirements of the company or its regulated subsidiaries and primarily are u.s .', 'dollar denominated .', 'senior debt 2014structured borrowings .', 'the company 2019s index-linked , equity-linked or credit-linked borrowings include various structured instruments whose payments and redemption values are linked to the performance of a specific index ( e.g. , standard & poor 2019s 500 ) , a basket of stocks , a specific equity security , a credit exposure or basket of credit exposures .', 'to minimize the exposure resulting from movements in the underlying index , equity , credit or other position , the company has entered into various swap contracts and purchased options that effectively convert the borrowing costs into floating rates based upon libor .', 'these instruments are included in the preceding table at their redemption values based on the performance of the underlying indices , baskets of stocks , or specific equity securities , credit or other position or index .', 'the company carries either the entire structured borrowing at fair value or bifurcates the embedded derivative and carries it at fair value .', 'the swaps and purchased options used to economically hedge the embedded features are derivatives and also are carried at fair value .', 'changes in fair value related to the notes and economic hedges are reported in trading revenues .', 'see note 4 for further information on structured borrowings .', 'subordinated debt and junior subordinated debentures .', 'included in the company 2019s long-term borrowings are subordinated notes of $ 9275 million having a contractual weighted average coupon of 4.69% ( 4.69 % ) at december 31 , 2013 and $ 5845 million having a weighted average coupon of 4.81% ( 4.81 % ) at december 31 , 2012 .', 'junior subordinated debentures outstanding by the company were $ 4849 million at december 31 , 2013 and $ 4827 million at december 31 , 2012 having a contractual weighted average coupon of 6.37% ( 6.37 % ) at both december 31 , 2013 and december 31 , 2012 .', 'maturities of the subordinated and junior subordinated notes range from 2014 to 2067 .', 'maturities of certain junior subordinated debentures can be extended to 2052 at the company 2019s option .', 'asset and liability management .', 'in general , securities inventories that are not financed by secured funding sources and the majority of the company 2019s assets are financed with a combination of deposits , short-term funding , floating rate long-term debt or fixed rate long-term debt swapped to a floating rate .', 'fixed assets are generally financed with fixed rate long-term debt .', 'the company uses interest rate swaps to more closely match these borrowings to the duration , holding period and interest rate characteristics of the assets being funded and to manage interest rate risk .', 'these swaps effectively convert certain of the company 2019s fixed rate borrowings into floating rate obligations .', 'in addition , for non-u.s .', 'dollar currency borrowings that are not used to fund assets in the same currency , the company has entered into currency swaps that effectively convert the borrowings into u.s .', 'dollar obligations .', 'the company 2019s use of swaps for asset and liability management affected its effective average borrowing rate as follows: .']
######
Data Table:
****************************************
• , 2013, 2012, 2011
• weighted average coupon of long-term borrowings at period-end ( 1 ), 4.4% ( 4.4 % ), 4.4% ( 4.4 % ), 4.0% ( 4.0 % )
• effective average borrowing rate for long-term borrowings after swaps at period-end ( 1 ), 2.2% ( 2.2 % ), 2.3% ( 2.3 % ), 1.9% ( 1.9 % )
****************************************
######
Follow-up: ['( 1 ) included in the weighted average and effective average calculations are non-u.s .', 'dollar interest rates .', 'other .', 'the company , through several of its subsidiaries , maintains funded and unfunded committed credit facilities to support various businesses , including the collateralized commercial and residential mortgage whole loan , derivative contracts , warehouse lending , emerging market loan , structured product , corporate loan , investment banking and prime brokerage businesses. .'] | 2.1 | MS/2013/page_223.pdf-2 | ['morgan stanley notes to consolidated financial statements 2014 ( continued ) consumer price index ) .', 'senior debt also may be structured to be callable by the company or extendible at the option of holders of the senior debt securities .', 'debt containing provisions that effectively allow the holders to put or extend the notes aggregated $ 1175 million at december 31 , 2013 and $ 1131 million at december 31 , 2012 .', 'in addition , separate agreements are entered into by the company 2019s subsidiaries that effectively allow the holders to put the notes aggregated $ 353 million at december 31 , 2013 and $ 1895 million at december 31 , 2012 .', 'subordinated debt and junior subordinated debentures generally are issued to meet the capital requirements of the company or its regulated subsidiaries and primarily are u.s .', 'dollar denominated .', 'senior debt 2014structured borrowings .', 'the company 2019s index-linked , equity-linked or credit-linked borrowings include various structured instruments whose payments and redemption values are linked to the performance of a specific index ( e.g. , standard & poor 2019s 500 ) , a basket of stocks , a specific equity security , a credit exposure or basket of credit exposures .', 'to minimize the exposure resulting from movements in the underlying index , equity , credit or other position , the company has entered into various swap contracts and purchased options that effectively convert the borrowing costs into floating rates based upon libor .', 'these instruments are included in the preceding table at their redemption values based on the performance of the underlying indices , baskets of stocks , or specific equity securities , credit or other position or index .', 'the company carries either the entire structured borrowing at fair value or bifurcates the embedded derivative and carries it at fair value .', 'the swaps and purchased options used to economically hedge the embedded features are derivatives and also are carried at fair value .', 'changes in fair value related to the notes and economic hedges are reported in trading revenues .', 'see note 4 for further information on structured borrowings .', 'subordinated debt and junior subordinated debentures .', 'included in the company 2019s long-term borrowings are subordinated notes of $ 9275 million having a contractual weighted average coupon of 4.69% ( 4.69 % ) at december 31 , 2013 and $ 5845 million having a weighted average coupon of 4.81% ( 4.81 % ) at december 31 , 2012 .', 'junior subordinated debentures outstanding by the company were $ 4849 million at december 31 , 2013 and $ 4827 million at december 31 , 2012 having a contractual weighted average coupon of 6.37% ( 6.37 % ) at both december 31 , 2013 and december 31 , 2012 .', 'maturities of the subordinated and junior subordinated notes range from 2014 to 2067 .', 'maturities of certain junior subordinated debentures can be extended to 2052 at the company 2019s option .', 'asset and liability management .', 'in general , securities inventories that are not financed by secured funding sources and the majority of the company 2019s assets are financed with a combination of deposits , short-term funding , floating rate long-term debt or fixed rate long-term debt swapped to a floating rate .', 'fixed assets are generally financed with fixed rate long-term debt .', 'the company uses interest rate swaps to more closely match these borrowings to the duration , holding period and interest rate characteristics of the assets being funded and to manage interest rate risk .', 'these swaps effectively convert certain of the company 2019s fixed rate borrowings into floating rate obligations .', 'in addition , for non-u.s .', 'dollar currency borrowings that are not used to fund assets in the same currency , the company has entered into currency swaps that effectively convert the borrowings into u.s .', 'dollar obligations .', 'the company 2019s use of swaps for asset and liability management affected its effective average borrowing rate as follows: .'] | ['( 1 ) included in the weighted average and effective average calculations are non-u.s .', 'dollar interest rates .', 'other .', 'the company , through several of its subsidiaries , maintains funded and unfunded committed credit facilities to support various businesses , including the collateralized commercial and residential mortgage whole loan , derivative contracts , warehouse lending , emerging market loan , structured product , corporate loan , investment banking and prime brokerage businesses. .'] | ****************************************
• , 2013, 2012, 2011
• weighted average coupon of long-term borrowings at period-end ( 1 ), 4.4% ( 4.4 % ), 4.4% ( 4.4 % ), 4.0% ( 4.0 % )
• effective average borrowing rate for long-term borrowings after swaps at period-end ( 1 ), 2.2% ( 2.2 % ), 2.3% ( 2.3 % ), 1.9% ( 1.9 % )
**************************************** | subtract(4.4, 2.3) | 2.1 |
what is the minimum capital requirement as defined by the net capital rule in millions | Background: ['jpmorgan chase & co .', '/ 2008 annual report 85 of $ 1.0 billion and is also required to notify the securities and exchange commission ( 201csec 201d ) in the event that tentative net capital is less than $ 5.0 billion in accordance with the market and credit risk standards of appendix e of the net capital rule .', 'as of december 31 , 2008 , jpmorgan securities had tentative net capital in excess of the minimum and the notification requirements .', 'on october 1 , 2008 , j.p .', 'morgan securities inc .', 'merged with and into bear , stearns & co .', 'inc. , and the surviving entity changed its name to j.p .', 'morgan securities inc .', 'j.p .', 'morgan clearing corp. , a subsidiary of jpmorgan securities provides clearing and settlement services .', 'at december 31 , 2008 , j.p .', 'morgan clearing corp . 2019s net capital , as defined by the net capital rule , of $ 4.7 billion exceeded the minimum requirement by $ 3.3 billion .', "dividends on february 23 , 2009 , the board of directors reduced the firm's quar- terly common stock dividend from $ 0.38 to $ 0.05 per share , effective for the dividend payable april 30 , 2009 , to shareholders of record on april 6 , 2009 .", 'jpmorgan chase declared quarterly cash dividends on its common stock in the amount of $ 0.38 for each quarter of 2008 and the second , third and fourth quarters of 2007 , and $ 0.34 per share for the first quarter of 2007 and for each quarter of 2006 .', 'the firm 2019s common stock dividend policy reflects jpmorgan chase 2019s earnings outlook , desired dividend payout ratios , need to maintain an adequate capital level and alternative investment opportunities .', 'the firm 2019s ability to pay dividends is subject to restrictions .', 'for information regarding such restrictions , see page 84 and note 24 and note 29 on pages 205 2013206 and 211 , respectively , of this annual report and for additional information regarding the reduction of the dividend , see page 44 .', 'the following table shows the common dividend payout ratio based upon reported net income .', 'common dividend payout ratio .']
Tabular Data:
****************************************
year ended december 31, | 2008 | 2007 | 2006
common dividend payout ratio | 114% ( 114 % ) | 34% ( 34 % ) | 34% ( 34 % )
****************************************
Additional Information: ['issuance the firm issued $ 6.0 billion and $ 1.8 billion of noncumulative per- petual preferred stock on april 23 , 2008 , and august 21 , 2008 , respectively .', 'pursuant to the capital purchase program , on october 28 , 2008 , the firm issued to the u.s .', 'treasury $ 25.0 billion of cumu- lative preferred stock and a warrant to purchase up to 88401697 shares of the firm 2019s common stock .', 'for additional information regarding preferred stock , see note 24 on pages 205 2013206 of this annual report .', 'on september 30 , 2008 , the firm issued $ 11.5 billion , or 284 million shares , of common stock at $ 40.50 per share .', 'for additional infor- mation regarding common stock , see note 25 on pages 206 2013207 of this annual report .', 'stock repurchases during the year ended december 31 , 2008 , the firm did not repur- chase any shares of its common stock .', 'during 2007 , under the respective stock repurchase programs then in effect , the firm repur- chased 168 million shares for $ 8.2 billion at an average price per share of $ 48.60 .', 'the board of directors approved in april 2007 , a stock repurchase program that authorizes the repurchase of up to $ 10.0 billion of the firm 2019s common shares , which superseded an $ 8.0 billion stock repur- chase program approved in 2006 .', 'the $ 10.0 billion authorization includes shares to be repurchased to offset issuances under the firm 2019s employee stock-based plans .', 'the actual number of shares that may be repurchased is subject to various factors , including market conditions ; legal considerations affecting the amount and timing of repurchase activity ; the firm 2019s capital position ( taking into account goodwill and intangibles ) ; internal capital generation ; and alternative potential investment opportunities .', 'the repurchase program does not include specific price targets or timetables ; may be executed through open market purchases or privately negotiated transactions , or utiliz- ing rule 10b5-1 programs ; and may be suspended at any time .', 'a rule 10b5-1 repurchase plan allows the firm to repurchase shares during periods when it would not otherwise be repurchasing com- mon stock 2013 for example , during internal trading 201cblack-out peri- ods . 201d all purchases under a rule 10b5-1 plan must be made accord- ing to a predefined plan that is established when the firm is not aware of material nonpublic information .', 'as of december 31 , 2008 , $ 6.2 billion of authorized repurchase capacity remained under the current stock repurchase program .', 'for a discussion of restrictions on stock repurchases , see capital purchase program on page 84 and note 24 on pages 205 2013206 of this annual report .', 'for additional information regarding repurchases of the firm 2019s equity securities , see part ii , item 5 , market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities , on page 17 of jpmorgan chase 2019s 2008 form 10-k. .'] | 1.4 | JPM/2008/page_87.pdf-2 | ['jpmorgan chase & co .', '/ 2008 annual report 85 of $ 1.0 billion and is also required to notify the securities and exchange commission ( 201csec 201d ) in the event that tentative net capital is less than $ 5.0 billion in accordance with the market and credit risk standards of appendix e of the net capital rule .', 'as of december 31 , 2008 , jpmorgan securities had tentative net capital in excess of the minimum and the notification requirements .', 'on october 1 , 2008 , j.p .', 'morgan securities inc .', 'merged with and into bear , stearns & co .', 'inc. , and the surviving entity changed its name to j.p .', 'morgan securities inc .', 'j.p .', 'morgan clearing corp. , a subsidiary of jpmorgan securities provides clearing and settlement services .', 'at december 31 , 2008 , j.p .', 'morgan clearing corp . 2019s net capital , as defined by the net capital rule , of $ 4.7 billion exceeded the minimum requirement by $ 3.3 billion .', "dividends on february 23 , 2009 , the board of directors reduced the firm's quar- terly common stock dividend from $ 0.38 to $ 0.05 per share , effective for the dividend payable april 30 , 2009 , to shareholders of record on april 6 , 2009 .", 'jpmorgan chase declared quarterly cash dividends on its common stock in the amount of $ 0.38 for each quarter of 2008 and the second , third and fourth quarters of 2007 , and $ 0.34 per share for the first quarter of 2007 and for each quarter of 2006 .', 'the firm 2019s common stock dividend policy reflects jpmorgan chase 2019s earnings outlook , desired dividend payout ratios , need to maintain an adequate capital level and alternative investment opportunities .', 'the firm 2019s ability to pay dividends is subject to restrictions .', 'for information regarding such restrictions , see page 84 and note 24 and note 29 on pages 205 2013206 and 211 , respectively , of this annual report and for additional information regarding the reduction of the dividend , see page 44 .', 'the following table shows the common dividend payout ratio based upon reported net income .', 'common dividend payout ratio .'] | ['issuance the firm issued $ 6.0 billion and $ 1.8 billion of noncumulative per- petual preferred stock on april 23 , 2008 , and august 21 , 2008 , respectively .', 'pursuant to the capital purchase program , on october 28 , 2008 , the firm issued to the u.s .', 'treasury $ 25.0 billion of cumu- lative preferred stock and a warrant to purchase up to 88401697 shares of the firm 2019s common stock .', 'for additional information regarding preferred stock , see note 24 on pages 205 2013206 of this annual report .', 'on september 30 , 2008 , the firm issued $ 11.5 billion , or 284 million shares , of common stock at $ 40.50 per share .', 'for additional infor- mation regarding common stock , see note 25 on pages 206 2013207 of this annual report .', 'stock repurchases during the year ended december 31 , 2008 , the firm did not repur- chase any shares of its common stock .', 'during 2007 , under the respective stock repurchase programs then in effect , the firm repur- chased 168 million shares for $ 8.2 billion at an average price per share of $ 48.60 .', 'the board of directors approved in april 2007 , a stock repurchase program that authorizes the repurchase of up to $ 10.0 billion of the firm 2019s common shares , which superseded an $ 8.0 billion stock repur- chase program approved in 2006 .', 'the $ 10.0 billion authorization includes shares to be repurchased to offset issuances under the firm 2019s employee stock-based plans .', 'the actual number of shares that may be repurchased is subject to various factors , including market conditions ; legal considerations affecting the amount and timing of repurchase activity ; the firm 2019s capital position ( taking into account goodwill and intangibles ) ; internal capital generation ; and alternative potential investment opportunities .', 'the repurchase program does not include specific price targets or timetables ; may be executed through open market purchases or privately negotiated transactions , or utiliz- ing rule 10b5-1 programs ; and may be suspended at any time .', 'a rule 10b5-1 repurchase plan allows the firm to repurchase shares during periods when it would not otherwise be repurchasing com- mon stock 2013 for example , during internal trading 201cblack-out peri- ods . 201d all purchases under a rule 10b5-1 plan must be made accord- ing to a predefined plan that is established when the firm is not aware of material nonpublic information .', 'as of december 31 , 2008 , $ 6.2 billion of authorized repurchase capacity remained under the current stock repurchase program .', 'for a discussion of restrictions on stock repurchases , see capital purchase program on page 84 and note 24 on pages 205 2013206 of this annual report .', 'for additional information regarding repurchases of the firm 2019s equity securities , see part ii , item 5 , market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities , on page 17 of jpmorgan chase 2019s 2008 form 10-k. .'] | ****************************************
year ended december 31, | 2008 | 2007 | 2006
common dividend payout ratio | 114% ( 114 % ) | 34% ( 34 % ) | 34% ( 34 % )
**************************************** | subtract(4.7, 3.3) | 1.4 |
what was the percentage change in total long-term debt net from 2014 to 2015? | Background: ['note 10 2013 debt our long-term debt consisted of the following ( in millions ) : .']
##
Tabular Data:
| 2015 | 2014
notes with rates from 1.85% ( 1.85 % ) to 3.80% ( 3.80 % ) due 2016 to 2045 | $ 8150 | $ 1400
notes with rates from 4.07% ( 4.07 % ) to 5.72% ( 5.72 % ) due 2019 to 2046 | 6089 | 3589
notes with rates from 6.15% ( 6.15 % ) to 9.13% ( 9.13 % ) due 2016 to 2036 | 1941 | 1941
other debt | 116 | 111
total long-term debt | 16296 | 7041
less : unamortized discounts and deferred financing costs | -1035 ( 1035 ) | -899 ( 899 )
total long-term debt net | $ 15261 | $ 6142
##
Additional Information: ['revolving credit facilities on october 9 , 2015 , we entered into a new $ 2.5 billion revolving credit facility ( the 5-year facility ) with various banks and concurrently terminated our existing $ 1.5 billion revolving credit facility , which was scheduled to expire in august 2019 .', 'the 5-year facility , which expires on october 9 , 2020 , is available for general corporate purposes .', 'the undrawn portion of the 5-year facility is also available to serve as a backup facility for the issuance of commercial paper .', 'we may request and the banks may grant , at their discretion , an increase in the borrowing capacity under the 5-year facility of up to an additional $ 500 million .', 'there were no borrowings outstanding under the 5-year facility as of and during the year ended december 31 , in contemplation of our acquisition of sikorsky , on october 9 , 2015 , we also entered into a 364-day revolving credit facility ( the 364-day facility , and together with the 5-year facility , the facilities ) with various banks that provided $ 7.0 billion of funding for general corporate purposes , including the acquisition of sikorsky .', 'concurrent with the consummation of the sikorsky acquisition , we borrowed $ 6.0 billion under the 364-day facility .', 'on november 23 , 2015 , we repaid all outstanding borrowings under the 364-day facility with proceeds received from an issuance of new debt ( see below ) and terminated any remaining commitments of the lenders under the 364-day facility .', 'borrowings under the facilities bear interest at rates based , at our option , on a eurodollar rate or a base rate , as defined in the facilities 2019 agreements .', 'each bank 2019s obligation to make loans under the 5-year facility is subject to , among other things , our compliance with various representations , warranties , and covenants , including covenants limiting our ability and certain of our subsidiaries 2019 ability to encumber assets and a covenant not to exceed a maximum leverage ratio , as defined in the five-year facility agreement .', 'as of december 31 , 2015 , we were in compliance with all covenants contained in the 5-year facility agreement , as well as in our debt agreements .', 'long-term debt on november 23 , 2015 , we issued $ 7.0 billion of notes ( the november 2015 notes ) in a registered public offering .', 'we received net proceeds of $ 6.9 billion from the offering , after deducting discounts and debt issuance costs , which are being amortized as interest expense over the life of the debt .', 'the november 2015 notes consist of : 2022 $ 750 million maturing in 2018 with a fixed interest rate of 1.85% ( 1.85 % ) ( the 2018 notes ) ; 2022 $ 1.25 billion maturing in 2020 with a fixed interest rate of 2.50% ( 2.50 % ) ( the 2020 notes ) ; 2022 $ 500 million maturing in 2023 with a fixed interest rate of 3.10% ( 3.10 % ) the 2023 notes ) ; 2022 $ 2.0 billion maturing in 2026 with a fixed interest rate of 3.55% ( 3.55 % ) ( the 2026 notes ) ; 2022 $ 500 million maturing in 2036 with a fixed interest rate of 4.50% ( 4.50 % ) ( the 2036 notes ) ; and 2022 $ 2.0 billion maturing in 2046 with a fixed interest rate of 4.70% ( 4.70 % ) ( the 2046 notes ) .', 'we may , at our option , redeem some or all of the november 2015 notes and unpaid interest at any time by paying the principal amount of notes being redeemed plus any make-whole premium and accrued and unpaid interest to the date of redemption .', 'interest is payable on the 2018 notes and the 2020 notes on may 23 and november 23 of each year , beginning on may 23 , 2016 ; on the 2023 notes and the 2026 notes on january 15 and july 15 of each year , beginning on july 15 , 2016 ; and on the 2036 notes and the 2046 notes on may 15 and november 15 of each year , beginning on may 15 , 2016 .', 'the november 2015 notes rank equally in right of payment with all of our existing unsecured and unsubordinated indebtedness .', 'the proceeds of the november 2015 notes were used to repay $ 6.0 billion of borrowings under our 364-day facility and for general corporate purposes. .'] | 1.4847 | LMT/2015/page_99.pdf-2 | ['note 10 2013 debt our long-term debt consisted of the following ( in millions ) : .'] | ['revolving credit facilities on october 9 , 2015 , we entered into a new $ 2.5 billion revolving credit facility ( the 5-year facility ) with various banks and concurrently terminated our existing $ 1.5 billion revolving credit facility , which was scheduled to expire in august 2019 .', 'the 5-year facility , which expires on october 9 , 2020 , is available for general corporate purposes .', 'the undrawn portion of the 5-year facility is also available to serve as a backup facility for the issuance of commercial paper .', 'we may request and the banks may grant , at their discretion , an increase in the borrowing capacity under the 5-year facility of up to an additional $ 500 million .', 'there were no borrowings outstanding under the 5-year facility as of and during the year ended december 31 , in contemplation of our acquisition of sikorsky , on october 9 , 2015 , we also entered into a 364-day revolving credit facility ( the 364-day facility , and together with the 5-year facility , the facilities ) with various banks that provided $ 7.0 billion of funding for general corporate purposes , including the acquisition of sikorsky .', 'concurrent with the consummation of the sikorsky acquisition , we borrowed $ 6.0 billion under the 364-day facility .', 'on november 23 , 2015 , we repaid all outstanding borrowings under the 364-day facility with proceeds received from an issuance of new debt ( see below ) and terminated any remaining commitments of the lenders under the 364-day facility .', 'borrowings under the facilities bear interest at rates based , at our option , on a eurodollar rate or a base rate , as defined in the facilities 2019 agreements .', 'each bank 2019s obligation to make loans under the 5-year facility is subject to , among other things , our compliance with various representations , warranties , and covenants , including covenants limiting our ability and certain of our subsidiaries 2019 ability to encumber assets and a covenant not to exceed a maximum leverage ratio , as defined in the five-year facility agreement .', 'as of december 31 , 2015 , we were in compliance with all covenants contained in the 5-year facility agreement , as well as in our debt agreements .', 'long-term debt on november 23 , 2015 , we issued $ 7.0 billion of notes ( the november 2015 notes ) in a registered public offering .', 'we received net proceeds of $ 6.9 billion from the offering , after deducting discounts and debt issuance costs , which are being amortized as interest expense over the life of the debt .', 'the november 2015 notes consist of : 2022 $ 750 million maturing in 2018 with a fixed interest rate of 1.85% ( 1.85 % ) ( the 2018 notes ) ; 2022 $ 1.25 billion maturing in 2020 with a fixed interest rate of 2.50% ( 2.50 % ) ( the 2020 notes ) ; 2022 $ 500 million maturing in 2023 with a fixed interest rate of 3.10% ( 3.10 % ) the 2023 notes ) ; 2022 $ 2.0 billion maturing in 2026 with a fixed interest rate of 3.55% ( 3.55 % ) ( the 2026 notes ) ; 2022 $ 500 million maturing in 2036 with a fixed interest rate of 4.50% ( 4.50 % ) ( the 2036 notes ) ; and 2022 $ 2.0 billion maturing in 2046 with a fixed interest rate of 4.70% ( 4.70 % ) ( the 2046 notes ) .', 'we may , at our option , redeem some or all of the november 2015 notes and unpaid interest at any time by paying the principal amount of notes being redeemed plus any make-whole premium and accrued and unpaid interest to the date of redemption .', 'interest is payable on the 2018 notes and the 2020 notes on may 23 and november 23 of each year , beginning on may 23 , 2016 ; on the 2023 notes and the 2026 notes on january 15 and july 15 of each year , beginning on july 15 , 2016 ; and on the 2036 notes and the 2046 notes on may 15 and november 15 of each year , beginning on may 15 , 2016 .', 'the november 2015 notes rank equally in right of payment with all of our existing unsecured and unsubordinated indebtedness .', 'the proceeds of the november 2015 notes were used to repay $ 6.0 billion of borrowings under our 364-day facility and for general corporate purposes. .'] | | 2015 | 2014
notes with rates from 1.85% ( 1.85 % ) to 3.80% ( 3.80 % ) due 2016 to 2045 | $ 8150 | $ 1400
notes with rates from 4.07% ( 4.07 % ) to 5.72% ( 5.72 % ) due 2019 to 2046 | 6089 | 3589
notes with rates from 6.15% ( 6.15 % ) to 9.13% ( 9.13 % ) due 2016 to 2036 | 1941 | 1941
other debt | 116 | 111
total long-term debt | 16296 | 7041
less : unamortized discounts and deferred financing costs | -1035 ( 1035 ) | -899 ( 899 )
total long-term debt net | $ 15261 | $ 6142 | subtract(15261, 6142), divide(#0, 6142) | 1.4847 |
how much of the 2010 capital expenditures are devoted to expenditures for ptc? | Context: ['meet customer needs and put us in a position to handle demand changes .', 'we will also continue utilizing industrial engineering techniques to improve productivity .', '2022 fuel prices 2013 uncertainty about the economy makes fuel price projections difficult , and we could see volatile fuel prices during the year , as they are sensitive to global and u.s .', 'domestic demand , refining capacity , geopolitical issues and events , weather conditions and other factors .', 'to reduce the impact of fuel price on earnings , we will continue to seek recovery from our customers through our fuel surcharge programs and to expand our fuel conservation efforts .', '2022 capital plan 2013 in 2010 , we plan to make total capital investments of approximately $ 2.5 billion , including expenditures for ptc , which may be revised if business conditions or new laws or regulations affect our ability to generate sufficient returns on these investments .', 'see further discussion in this item 7 under liquidity and capital resources 2013 capital plan .', '2022 positive train control ( ptc ) 2013 in response to a legislative mandate to implement ptc by the end of 2015 , we expect to spend approximately $ 200 million during 2010 on the development of ptc .', 'we currently estimate that ptc will cost us approximately $ 1.4 billion to implement by the end of 2015 , in accordance with rules issued by the fra .', 'this includes costs for installing the new system along our tracks , upgrading locomotives to work with the new system , and adding digital data communication equipment so all the parts of the system can communicate with each other .', '2022 financial expectations 2013 we remain cautious about economic conditions but expect volume to increase from 2009 levels .', 'in addition , we anticipate continued pricing opportunities and further productivity improvements .', 'results of operations operating revenues millions of dollars 2009 2008 2007 % ( % ) change 2009 v 2008 % ( % ) change 2008 v 2007 .']
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Table:
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Row 1: millions of dollars, 2009, 2008, 2007, % ( % ) change 2009 v 2008, % ( % ) change 2008 v 2007
Row 2: freight revenues, $ 13373, $ 17118, $ 15486, ( 22 ) % ( % ), 11% ( 11 % )
Row 3: other revenues, 770, 852, 797, -10 ( 10 ), 7
Row 4: total, $ 14143, $ 17970, $ 16283, ( 21 ) % ( % ), 10% ( 10 % )
----------------------------------------
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Additional Information: ['freight revenues are revenues generated by transporting freight or other materials from our six commodity groups .', 'freight revenues vary with volume ( carloads ) and average revenue per car ( arc ) .', 'changes in price , traffic mix and fuel surcharges drive arc .', 'we provide some of our customers with contractual incentives for meeting or exceeding specified cumulative volumes or shipping to and from specific locations , which we record as a reduction to freight revenues based on the actual or projected future shipments .', 'we recognize freight revenues on a percentage-of-completion basis as freight moves from origin to destination .', 'we allocate freight revenues between reporting periods based on the relative transit time in each reporting period and recognize expenses as we incur them .', 'other revenues include revenues earned by our subsidiaries , revenues from our commuter rail operations , and accessorial revenues , which we earn when customers retain equipment owned or controlled by us or when we perform additional services such as switching or storage .', 'we recognize other revenues as we perform services or meet contractual obligations .', 'freight revenues and volume levels for all six commodity groups decreased during 2009 , reflecting continued economic weakness .', 'we experienced the largest volume declines in automotive and industrial .'] | 0.08 | UNP/2009/page_26.pdf-1 | ['meet customer needs and put us in a position to handle demand changes .', 'we will also continue utilizing industrial engineering techniques to improve productivity .', '2022 fuel prices 2013 uncertainty about the economy makes fuel price projections difficult , and we could see volatile fuel prices during the year , as they are sensitive to global and u.s .', 'domestic demand , refining capacity , geopolitical issues and events , weather conditions and other factors .', 'to reduce the impact of fuel price on earnings , we will continue to seek recovery from our customers through our fuel surcharge programs and to expand our fuel conservation efforts .', '2022 capital plan 2013 in 2010 , we plan to make total capital investments of approximately $ 2.5 billion , including expenditures for ptc , which may be revised if business conditions or new laws or regulations affect our ability to generate sufficient returns on these investments .', 'see further discussion in this item 7 under liquidity and capital resources 2013 capital plan .', '2022 positive train control ( ptc ) 2013 in response to a legislative mandate to implement ptc by the end of 2015 , we expect to spend approximately $ 200 million during 2010 on the development of ptc .', 'we currently estimate that ptc will cost us approximately $ 1.4 billion to implement by the end of 2015 , in accordance with rules issued by the fra .', 'this includes costs for installing the new system along our tracks , upgrading locomotives to work with the new system , and adding digital data communication equipment so all the parts of the system can communicate with each other .', '2022 financial expectations 2013 we remain cautious about economic conditions but expect volume to increase from 2009 levels .', 'in addition , we anticipate continued pricing opportunities and further productivity improvements .', 'results of operations operating revenues millions of dollars 2009 2008 2007 % ( % ) change 2009 v 2008 % ( % ) change 2008 v 2007 .'] | ['freight revenues are revenues generated by transporting freight or other materials from our six commodity groups .', 'freight revenues vary with volume ( carloads ) and average revenue per car ( arc ) .', 'changes in price , traffic mix and fuel surcharges drive arc .', 'we provide some of our customers with contractual incentives for meeting or exceeding specified cumulative volumes or shipping to and from specific locations , which we record as a reduction to freight revenues based on the actual or projected future shipments .', 'we recognize freight revenues on a percentage-of-completion basis as freight moves from origin to destination .', 'we allocate freight revenues between reporting periods based on the relative transit time in each reporting period and recognize expenses as we incur them .', 'other revenues include revenues earned by our subsidiaries , revenues from our commuter rail operations , and accessorial revenues , which we earn when customers retain equipment owned or controlled by us or when we perform additional services such as switching or storage .', 'we recognize other revenues as we perform services or meet contractual obligations .', 'freight revenues and volume levels for all six commodity groups decreased during 2009 , reflecting continued economic weakness .', 'we experienced the largest volume declines in automotive and industrial .'] | ----------------------------------------
Row 1: millions of dollars, 2009, 2008, 2007, % ( % ) change 2009 v 2008, % ( % ) change 2008 v 2007
Row 2: freight revenues, $ 13373, $ 17118, $ 15486, ( 22 ) % ( % ), 11% ( 11 % )
Row 3: other revenues, 770, 852, 797, -10 ( 10 ), 7
Row 4: total, $ 14143, $ 17970, $ 16283, ( 21 ) % ( % ), 10% ( 10 % )
---------------------------------------- | multiply(2.5, const_1000), divide(200, #0) | 0.08 |
what is the fluctuation between the lowest and average operating margin? | Context: ['equity equity at december 31 , 2014 was $ 6.6 billion , a decrease of $ 1.6 billion from december 31 , 2013 .', 'the decrease resulted primarily due to share repurchases of $ 2.3 billion , $ 273 million of dividends to shareholders , and an increase in accumulated other comprehensive loss of $ 760 million , partially offset by net income of $ 1.4 billion .', 'the $ 760 million increase in accumulated other comprehensive loss from december 31 , 2013 , primarily reflects the following : 2022 negative net foreign currency translation adjustments of $ 504 million , which are attributable to the strengthening of the u.s .', 'dollar against certain foreign currencies , 2022 an increase of $ 260 million in net post-retirement benefit obligations , 2022 net derivative gains of $ 5 million , and 2022 net investment losses of $ 1 million .', 'review by segment general we serve clients through the following segments : 2022 risk solutions acts as an advisor and insurance and reinsurance broker , helping clients manage their risks , via consultation , as well as negotiation and placement of insurance risk with insurance carriers through our global distribution network .', '2022 hr solutions partners with organizations to solve their most complex benefits , talent and related financial challenges , and improve business performance by designing , implementing , communicating and administering a wide range of human capital , retirement , investment management , health care , compensation and talent management strategies .', 'risk solutions .']
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Tabular Data:
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• years ended december 31 ( millions except percentage data ), 2014, 2013, 2012
• revenue, $ 7834, $ 7789, $ 7632
• operating income, 1648, 1540, 1493
• operating margin, 21.0% ( 21.0 % ), 19.8% ( 19.8 % ), 19.6% ( 19.6 % )
----------------------------------------
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Follow-up: ['the demand for property and casualty insurance generally rises as the overall level of economic activity increases and generally falls as such activity decreases , affecting both the commissions and fees generated by our brokerage business .', 'the economic activity that impacts property and casualty insurance is described as exposure units , and is most closely correlated with employment levels , corporate revenue and asset values .', 'during 2014 , pricing was flat on average globally , and we would still consider this to be a "soft market." in a soft market , premium rates flatten or decrease , along with commission revenues , due to increased competition for market share among insurance carriers or increased underwriting capacity .', 'changes in premiums have a direct and potentially material impact on the insurance brokerage industry , as commission revenues are generally based on a percentage of the premiums paid by insureds .', 'additionally , continuing through 2014 , we faced difficult conditions as a result of continued weakness in the global economy , the repricing of credit risk and the deterioration of the financial markets .', "weak economic conditions in many markets around the globe have reduced our customers' demand for our retail brokerage and reinsurance brokerage products , which have had a negative impact on our operational results .", 'risk solutions generated approximately 65% ( 65 % ) of our consolidated total revenues in 2014 .', 'revenues are generated primarily through fees paid by clients , commissions and fees paid by insurance and reinsurance companies , and investment income on funds held on behalf of clients .', "our revenues vary from quarter to quarter throughout the year as a result of the timing of our clients' policy renewals , the net effect of new and lost business , the timing of services provided to our clients , and the income we earn on investments , which is heavily influenced by short-term interest rates .", 'we operate in a highly competitive industry and compete with many retail insurance brokerage and agency firms , as well as with individual brokers , agents , and direct writers of insurance coverage .', 'specifically , we address the highly specialized .'] | 0.00533 | AON/2014/page_45.pdf-2 | ['equity equity at december 31 , 2014 was $ 6.6 billion , a decrease of $ 1.6 billion from december 31 , 2013 .', 'the decrease resulted primarily due to share repurchases of $ 2.3 billion , $ 273 million of dividends to shareholders , and an increase in accumulated other comprehensive loss of $ 760 million , partially offset by net income of $ 1.4 billion .', 'the $ 760 million increase in accumulated other comprehensive loss from december 31 , 2013 , primarily reflects the following : 2022 negative net foreign currency translation adjustments of $ 504 million , which are attributable to the strengthening of the u.s .', 'dollar against certain foreign currencies , 2022 an increase of $ 260 million in net post-retirement benefit obligations , 2022 net derivative gains of $ 5 million , and 2022 net investment losses of $ 1 million .', 'review by segment general we serve clients through the following segments : 2022 risk solutions acts as an advisor and insurance and reinsurance broker , helping clients manage their risks , via consultation , as well as negotiation and placement of insurance risk with insurance carriers through our global distribution network .', '2022 hr solutions partners with organizations to solve their most complex benefits , talent and related financial challenges , and improve business performance by designing , implementing , communicating and administering a wide range of human capital , retirement , investment management , health care , compensation and talent management strategies .', 'risk solutions .'] | ['the demand for property and casualty insurance generally rises as the overall level of economic activity increases and generally falls as such activity decreases , affecting both the commissions and fees generated by our brokerage business .', 'the economic activity that impacts property and casualty insurance is described as exposure units , and is most closely correlated with employment levels , corporate revenue and asset values .', 'during 2014 , pricing was flat on average globally , and we would still consider this to be a "soft market." in a soft market , premium rates flatten or decrease , along with commission revenues , due to increased competition for market share among insurance carriers or increased underwriting capacity .', 'changes in premiums have a direct and potentially material impact on the insurance brokerage industry , as commission revenues are generally based on a percentage of the premiums paid by insureds .', 'additionally , continuing through 2014 , we faced difficult conditions as a result of continued weakness in the global economy , the repricing of credit risk and the deterioration of the financial markets .', "weak economic conditions in many markets around the globe have reduced our customers' demand for our retail brokerage and reinsurance brokerage products , which have had a negative impact on our operational results .", 'risk solutions generated approximately 65% ( 65 % ) of our consolidated total revenues in 2014 .', 'revenues are generated primarily through fees paid by clients , commissions and fees paid by insurance and reinsurance companies , and investment income on funds held on behalf of clients .', "our revenues vary from quarter to quarter throughout the year as a result of the timing of our clients' policy renewals , the net effect of new and lost business , the timing of services provided to our clients , and the income we earn on investments , which is heavily influenced by short-term interest rates .", 'we operate in a highly competitive industry and compete with many retail insurance brokerage and agency firms , as well as with individual brokers , agents , and direct writers of insurance coverage .', 'specifically , we address the highly specialized .'] | ----------------------------------------
• years ended december 31 ( millions except percentage data ), 2014, 2013, 2012
• revenue, $ 7834, $ 7789, $ 7632
• operating income, 1648, 1540, 1493
• operating margin, 21.0% ( 21.0 % ), 19.8% ( 19.8 % ), 19.6% ( 19.6 % )
---------------------------------------- | table_average(operating margin, none), table_min(operating margin, none), subtract(#0, #1) | 0.00533 |
in the five-year stock performance graph what was the ratio of the of the snap-on incorporated to the peer group performance in december 31 2012 | Pre-text: ['five-year stock performance graph the graph below illustrates the cumulative total shareholder return on snap-on common stock since december 31 , 2008 , assuming that dividends were reinvested .', 'the graph compares snap-on 2019s performance to that of the standard & poor 2019s 500 stock index ( 201cs&p 500 201d ) and a peer group .', 'snap-on incorporated total shareholder return ( 1 ) fiscal year ended ( 2 ) snap-on incorporated peer group ( 3 ) s&p 500 .']
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Table:
fiscal year ended ( 2 ) snap-onincorporated peer group ( 3 ) s&p 500
december 31 2008 $ 100.00 $ 100.00 $ 100.00
december 31 2009 111.40 127.17 126.46
december 31 2010 153.24 169.36 145.51
december 31 2011 140.40 165.85 148.59
december 31 2012 223.82 195.02 172.37
december 31 2013 315.72 265.68 228.19
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Follow-up: ['( 1 ) assumes $ 100 was invested on december 31 , 2008 , and that dividends were reinvested quarterly .', "( 2 ) the company's fiscal year ends on the saturday that is on or nearest to december 31 of each year ; for ease of calculation , the fiscal year end is assumed to be december 31 .", '( 3 ) the peer group consists of : stanley black & decker , inc. , danaher corporation , emerson electric co. , genuine parts company , newell rubbermaid inc. , pentair ltd. , spx corporation and w.w .', 'grainger , inc .', '24 snap-on incorporated 2009 2010 2011 2012 2013 snap-on incorporated peer group s&p 500 .'] | 1.14768 | SNA/2013/page_34.pdf-1 | ['five-year stock performance graph the graph below illustrates the cumulative total shareholder return on snap-on common stock since december 31 , 2008 , assuming that dividends were reinvested .', 'the graph compares snap-on 2019s performance to that of the standard & poor 2019s 500 stock index ( 201cs&p 500 201d ) and a peer group .', 'snap-on incorporated total shareholder return ( 1 ) fiscal year ended ( 2 ) snap-on incorporated peer group ( 3 ) s&p 500 .'] | ['( 1 ) assumes $ 100 was invested on december 31 , 2008 , and that dividends were reinvested quarterly .', "( 2 ) the company's fiscal year ends on the saturday that is on or nearest to december 31 of each year ; for ease of calculation , the fiscal year end is assumed to be december 31 .", '( 3 ) the peer group consists of : stanley black & decker , inc. , danaher corporation , emerson electric co. , genuine parts company , newell rubbermaid inc. , pentair ltd. , spx corporation and w.w .', 'grainger , inc .', '24 snap-on incorporated 2009 2010 2011 2012 2013 snap-on incorporated peer group s&p 500 .'] | fiscal year ended ( 2 ) snap-onincorporated peer group ( 3 ) s&p 500
december 31 2008 $ 100.00 $ 100.00 $ 100.00
december 31 2009 111.40 127.17 126.46
december 31 2010 153.24 169.36 145.51
december 31 2011 140.40 165.85 148.59
december 31 2012 223.82 195.02 172.37
december 31 2013 315.72 265.68 228.19 | divide(223.82, 195.02) | 1.14768 |
in 2008 what was the percent of the total future principal payments on the company 2019s outstanding debt that was due in 2009 | Pre-text: ['visa inc .', 'notes to consolidated financial statements 2014 ( continued ) september 30 , 2008 ( in millions , except as noted ) secured notes series b-1995 lease agreement in september 1995 , a real estate partnership owned jointly by visa u.s.a .', 'and visa international issued notes that are secured by certain office properties and facilities in california which are used by the company through a lease financing of net-leased office space ( 201c1995 lease agreement 201d ) .', 'series b of these notes , totaling $ 27 million , were issued with an interest rate of 7.83% ( 7.83 % ) and a stated maturity of september 15 , 2015 , and are payable monthly with interest-only payments for the first ten years and payments of interest and principal for the remainder of the term .', 'series b debt issuance costs of $ 0.3 million and a $ 0.8 million loss on termination of a forward contract are being amortized on a straight- line basis over the life of the notes .', 'the settlement entered into in connection with visa check/ master money antitrust litigation had triggered an event of default under the 1995 lease agreement .', 'accordingly , the related debt was classified as a current liability at september 30 , 2007 .', 'in may 2008 , visa inc. , visa u.s.a .', 'and visa international executed an amendment and waiver to the 1995 lease agreement ( 201camended 1995 lease agreement 201d ) , curing the default and including a guarantee of remaining obligations under the agreement by visa inc .', 'the interest terms remained unchanged .', 'future principal payments future principal payments on the company 2019s outstanding debt are as follows: .']
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Table:
• fiscal, ( in millions )
• 2009, 52
• 2010, 12
• 2011, 12
• 2012, 13
• 2013, 8
• thereafter, 11
• total, $ 108
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Additional Information: ['u.s .', 'commercial paper program visa international maintains a u.s .', 'commercial paper program to support its working capital requirements and for general corporate purposes .', 'this program allows the company to issue up to $ 500 million of unsecured debt securities , with maturities up to 270 days from the date of issuance and at interest rates generally extended to companies with comparable credit ratings .', 'at september 30 , 2008 , the company had no outstanding obligations under this program .', 'revolving credit facilities on february 15 , 2008 , visa inc .', 'entered into a $ 3.0 billion five-year revolving credit facility ( the 201cfebruary 2008 agreement 201d ) which replaced visa international 2019s $ 2.25 billion credit facility .', 'the february 2008 agreement matures on february 15 , 2013 and contains covenants and events of defaults customary for facilities of this type .', 'at september 30 , 2008 , the company is in compliance with all covenants with respect to the revolving credit facility. .'] | 0.48148 | V/2008/page_149.pdf-1 | ['visa inc .', 'notes to consolidated financial statements 2014 ( continued ) september 30 , 2008 ( in millions , except as noted ) secured notes series b-1995 lease agreement in september 1995 , a real estate partnership owned jointly by visa u.s.a .', 'and visa international issued notes that are secured by certain office properties and facilities in california which are used by the company through a lease financing of net-leased office space ( 201c1995 lease agreement 201d ) .', 'series b of these notes , totaling $ 27 million , were issued with an interest rate of 7.83% ( 7.83 % ) and a stated maturity of september 15 , 2015 , and are payable monthly with interest-only payments for the first ten years and payments of interest and principal for the remainder of the term .', 'series b debt issuance costs of $ 0.3 million and a $ 0.8 million loss on termination of a forward contract are being amortized on a straight- line basis over the life of the notes .', 'the settlement entered into in connection with visa check/ master money antitrust litigation had triggered an event of default under the 1995 lease agreement .', 'accordingly , the related debt was classified as a current liability at september 30 , 2007 .', 'in may 2008 , visa inc. , visa u.s.a .', 'and visa international executed an amendment and waiver to the 1995 lease agreement ( 201camended 1995 lease agreement 201d ) , curing the default and including a guarantee of remaining obligations under the agreement by visa inc .', 'the interest terms remained unchanged .', 'future principal payments future principal payments on the company 2019s outstanding debt are as follows: .'] | ['u.s .', 'commercial paper program visa international maintains a u.s .', 'commercial paper program to support its working capital requirements and for general corporate purposes .', 'this program allows the company to issue up to $ 500 million of unsecured debt securities , with maturities up to 270 days from the date of issuance and at interest rates generally extended to companies with comparable credit ratings .', 'at september 30 , 2008 , the company had no outstanding obligations under this program .', 'revolving credit facilities on february 15 , 2008 , visa inc .', 'entered into a $ 3.0 billion five-year revolving credit facility ( the 201cfebruary 2008 agreement 201d ) which replaced visa international 2019s $ 2.25 billion credit facility .', 'the february 2008 agreement matures on february 15 , 2013 and contains covenants and events of defaults customary for facilities of this type .', 'at september 30 , 2008 , the company is in compliance with all covenants with respect to the revolving credit facility. .'] | • fiscal, ( in millions )
• 2009, 52
• 2010, 12
• 2011, 12
• 2012, 13
• 2013, 8
• thereafter, 11
• total, $ 108 | divide(52, 108) | 0.48148 |
what percentage of total net revenues in the investment management segment in 2012 where due to transaction revenues? | 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
****************************************
Additional Information: ['56 goldman sachs 2012 annual report .'] | 0.07966 | GS/2012/page_58.pdf-3 | ['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
**************************************** | divide(416, 5222) | 0.07966 |
what was the ratio of the average loan and lease receivables to the automobile origination volume | Context: ['business-related metrics as of or for the year ended december 31 .']
########
Data Table:
( in billions except ratios ) | 2003 | 2002 | change
loan and lease receivables | $ 43.2 | $ 37.4 | 16% ( 16 % )
average loan and lease receivables | 41.7 | 31.7 | 32
automobile origination volume | 27.8 | 25.3 | 10
automobile market share | 6.1% ( 6.1 % ) | 5.7% ( 5.7 % ) | 40bp
30+ day delinquency rate | 1.46 | 1.54 | -8 ( 8 )
net charge-off ratio | 0.41 | 0.51 | -10 ( 10 )
overhead ratio | 35 | 36 | -100 ( 100 )
########
Follow-up: ['crb is the no .', '1 bank in the new york tri-state area and a top five bank in texas ( both ranked by retail deposits ) , providing payment , liquidity , investment , insurance and credit products and services to three primary customer segments : small busi- ness , affluent and retail .', 'within these segments , crb serves 326000 small businesses , 433000 affluent consumers and 2.6 million mass-market consumers .', 'crb 2019s continued focus on expanding customer relationships resulted in a 14% ( 14 % ) increase in core deposits ( for this purpose , core deposits are total deposits less time deposits ) from december 31 , 2002 , and a 77% ( 77 % ) increase in the cross-sell of chase credit products over 2002 .', 'in 2003 , mortgage and home equity originations through crb 2019s distribution channels were $ 3.4 billion and $ 4.7 billion , respectively .', 'branch-originated credit cards totaled 77000 , contributing to 23% ( 23 % ) of crb customers holding chase credit cards .', 'crb is compensated by cfs 2019s credit businesses for the home finance and credit card loans it origi- nates and does not retain these balances .', 'chase regional banking while crb continues to position itself for growth , decreased deposit spreads related to the low-rate environment and increased credit costs resulted in an 80% ( 80 % ) decline in crb operating earnings from 2002 .', 'this decrease was partly offset by an 8% ( 8 % ) increase in total average deposits .', 'operating revenue of $ 2.6 billion decreased by 9% ( 9 % ) compared with 2002 .', 'net interest income declined by 11% ( 11 % ) to $ 1.7 billion , primarily attributable to the lower interest rate environment .', 'noninterest revenue decreased 6% ( 6 % ) to $ 927 million due to lower deposit service fees , decreased debit card fees and one-time gains in 2002 .', 'crb 2019s revenue does not include funding profits earned on its deposit base ; these amounts are included in the results of global treasury .', 'operating expense of $ 2.4 billion increased by 7% ( 7 % ) from 2002 .', 'the increase was primarily due to investments in technology within the branch network ; also contributing were higher compensation expenses related to increased staff levels and higher severance costs as a result of continued restructuring .', 'this increase in operating caf is the largest u.s .', 'bank originator of automobile loans and leases , with more than 2.9 million accounts .', 'in 2003 , caf had a record number of automobile loan and lease originations , growing by 10% ( 10 % ) over 2002 to $ 27.8 billion .', 'loan and lease receivables of $ 43.2 billion at december 31 , 2003 , were 16% ( 16 % ) higher than at the prior year-end .', 'despite a challenging operating environment reflecting slightly declining new car sales in 2003 and increased competition , caf 2019s market share among automobile finance companies improved to 6.1% ( 6.1 % ) in 2003 from 5.7% ( 5.7 % ) in 2002 .', 'the increase in market share was the result of strong organic growth and an origination strategy that allies the business with manufac- turers and dealers .', 'caf 2019s relationships with several major car manufacturers contributed to 2003 growth , as did caf 2019s dealer relationships , which increased from approximately 12700 dealers in 2002 to approximately 13700 dealers in 2003 .', 'in 2003 , operating earnings were $ 205 million , 23% ( 23 % ) higher compared with 2002 .', 'the increase in earnings was driven by continued revenue growth and improved operating efficiency .', 'in 2003 , caf 2019s operating revenue grew by 23% ( 23 % ) to $ 842 million .', 'net interest income grew by 33% ( 33 % ) compared with 2002 .', 'the increase was driven by strong operating performance due to higher average loans and leases outstanding , reflecting continued strong origination volume and lower funding costs .', 'operating expense of $ 292 million increased by 18% ( 18 % ) compared with 2002 .', 'the increase in expenses was driven by higher average chase auto finance loans outstanding , higher origination volume and higher perform- ance-based incentives .', 'caf 2019s overhead ratio improved from 36% ( 36 % ) in 2002 to 35% ( 35 % ) in 2003 , as a result of strong revenue growth , con- tinued productivity gains and disciplined expense management .', 'credit costs increased 18% ( 18 % ) to $ 205 million , primarily reflecting a 32% ( 32 % ) increase in average loan and lease receivables .', 'credit quality continued to be strong relative to 2002 , as evidenced by a lower net charge-off ratio and 30+ day delinquency rate .', 'caf also comprises chase education finance , a top provider of government-guaranteed and private loans for higher education .', 'loans are provided through a joint venture with sallie mae , a government-sponsored enterprise and the leader in funding and servicing education loans .', 'chase education finance 2019s origination volume totaled $ 2.7 billion , an increase of 4% ( 4 % ) from last year .', 'management 2019s discussion and analysis j.p .', 'morgan chase & co .', '42 j.p .', 'morgan chase & co .', '/ 2003 annual report .'] | 1.5 | JPM/2003/page_44.pdf-4 | ['business-related metrics as of or for the year ended december 31 .'] | ['crb is the no .', '1 bank in the new york tri-state area and a top five bank in texas ( both ranked by retail deposits ) , providing payment , liquidity , investment , insurance and credit products and services to three primary customer segments : small busi- ness , affluent and retail .', 'within these segments , crb serves 326000 small businesses , 433000 affluent consumers and 2.6 million mass-market consumers .', 'crb 2019s continued focus on expanding customer relationships resulted in a 14% ( 14 % ) increase in core deposits ( for this purpose , core deposits are total deposits less time deposits ) from december 31 , 2002 , and a 77% ( 77 % ) increase in the cross-sell of chase credit products over 2002 .', 'in 2003 , mortgage and home equity originations through crb 2019s distribution channels were $ 3.4 billion and $ 4.7 billion , respectively .', 'branch-originated credit cards totaled 77000 , contributing to 23% ( 23 % ) of crb customers holding chase credit cards .', 'crb is compensated by cfs 2019s credit businesses for the home finance and credit card loans it origi- nates and does not retain these balances .', 'chase regional banking while crb continues to position itself for growth , decreased deposit spreads related to the low-rate environment and increased credit costs resulted in an 80% ( 80 % ) decline in crb operating earnings from 2002 .', 'this decrease was partly offset by an 8% ( 8 % ) increase in total average deposits .', 'operating revenue of $ 2.6 billion decreased by 9% ( 9 % ) compared with 2002 .', 'net interest income declined by 11% ( 11 % ) to $ 1.7 billion , primarily attributable to the lower interest rate environment .', 'noninterest revenue decreased 6% ( 6 % ) to $ 927 million due to lower deposit service fees , decreased debit card fees and one-time gains in 2002 .', 'crb 2019s revenue does not include funding profits earned on its deposit base ; these amounts are included in the results of global treasury .', 'operating expense of $ 2.4 billion increased by 7% ( 7 % ) from 2002 .', 'the increase was primarily due to investments in technology within the branch network ; also contributing were higher compensation expenses related to increased staff levels and higher severance costs as a result of continued restructuring .', 'this increase in operating caf is the largest u.s .', 'bank originator of automobile loans and leases , with more than 2.9 million accounts .', 'in 2003 , caf had a record number of automobile loan and lease originations , growing by 10% ( 10 % ) over 2002 to $ 27.8 billion .', 'loan and lease receivables of $ 43.2 billion at december 31 , 2003 , were 16% ( 16 % ) higher than at the prior year-end .', 'despite a challenging operating environment reflecting slightly declining new car sales in 2003 and increased competition , caf 2019s market share among automobile finance companies improved to 6.1% ( 6.1 % ) in 2003 from 5.7% ( 5.7 % ) in 2002 .', 'the increase in market share was the result of strong organic growth and an origination strategy that allies the business with manufac- turers and dealers .', 'caf 2019s relationships with several major car manufacturers contributed to 2003 growth , as did caf 2019s dealer relationships , which increased from approximately 12700 dealers in 2002 to approximately 13700 dealers in 2003 .', 'in 2003 , operating earnings were $ 205 million , 23% ( 23 % ) higher compared with 2002 .', 'the increase in earnings was driven by continued revenue growth and improved operating efficiency .', 'in 2003 , caf 2019s operating revenue grew by 23% ( 23 % ) to $ 842 million .', 'net interest income grew by 33% ( 33 % ) compared with 2002 .', 'the increase was driven by strong operating performance due to higher average loans and leases outstanding , reflecting continued strong origination volume and lower funding costs .', 'operating expense of $ 292 million increased by 18% ( 18 % ) compared with 2002 .', 'the increase in expenses was driven by higher average chase auto finance loans outstanding , higher origination volume and higher perform- ance-based incentives .', 'caf 2019s overhead ratio improved from 36% ( 36 % ) in 2002 to 35% ( 35 % ) in 2003 , as a result of strong revenue growth , con- tinued productivity gains and disciplined expense management .', 'credit costs increased 18% ( 18 % ) to $ 205 million , primarily reflecting a 32% ( 32 % ) increase in average loan and lease receivables .', 'credit quality continued to be strong relative to 2002 , as evidenced by a lower net charge-off ratio and 30+ day delinquency rate .', 'caf also comprises chase education finance , a top provider of government-guaranteed and private loans for higher education .', 'loans are provided through a joint venture with sallie mae , a government-sponsored enterprise and the leader in funding and servicing education loans .', 'chase education finance 2019s origination volume totaled $ 2.7 billion , an increase of 4% ( 4 % ) from last year .', 'management 2019s discussion and analysis j.p .', 'morgan chase & co .', '42 j.p .', 'morgan chase & co .', '/ 2003 annual report .'] | ( in billions except ratios ) | 2003 | 2002 | change
loan and lease receivables | $ 43.2 | $ 37.4 | 16% ( 16 % )
average loan and lease receivables | 41.7 | 31.7 | 32
automobile origination volume | 27.8 | 25.3 | 10
automobile market share | 6.1% ( 6.1 % ) | 5.7% ( 5.7 % ) | 40bp
30+ day delinquency rate | 1.46 | 1.54 | -8 ( 8 )
net charge-off ratio | 0.41 | 0.51 | -10 ( 10 )
overhead ratio | 35 | 36 | -100 ( 100 ) | divide(41.7, 27.8) | 1.5 |
what was the percent of the cash in the fair value of the assets acquired | Context: ['see note 10 goodwill and other intangible assets for further discussion of the accounting for goodwill and other intangible assets .', 'the estimated amount of rbc bank ( usa ) revenue and net income ( excluding integration costs ) included in pnc 2019s consolidated income statement for 2012 was $ 1.0 billion and $ 273 million , respectively .', 'upon closing and conversion of the rbc bank ( usa ) transaction , subsequent to march 2 , 2012 , separate records for rbc bank ( usa ) as a stand-alone business have not been maintained as the operations of rbc bank ( usa ) have been fully integrated into pnc .', 'rbc bank ( usa ) revenue and earnings disclosed above reflect management 2019s best estimate , based on information available at the reporting date .', 'the following table presents certain unaudited pro forma information for illustrative purposes only , for 2012 and 2011 as if rbc bank ( usa ) had been acquired on january 1 , 2011 .', 'the unaudited estimated pro forma information combines the historical results of rbc bank ( usa ) with the company 2019s consolidated historical results and includes certain adjustments reflecting the estimated impact of certain fair value adjustments for the respective periods .', 'the pro forma information is not indicative of what would have occurred had the acquisition taken place on january 1 , 2011 .', 'in particular , no adjustments have been made to eliminate the impact of other-than-temporary impairment losses and losses recognized on the sale of securities that may not have been necessary had the investment securities been recorded at fair value as of january 1 , 2011 .', 'the unaudited pro forma information does not consider any changes to the provision for credit losses resulting from recording loan assets at fair value .', 'additionally , the pro forma financial information does not include the impact of possible business model changes and does not reflect pro forma adjustments to conform accounting policies between rbc bank ( usa ) and pnc .', 'additionally , pnc expects to achieve further operating cost savings and other business synergies , including revenue growth , as a result of the acquisition that are not reflected in the pro forma amounts that follow .', 'as a result , actual results will differ from the unaudited pro forma information presented .', 'table 57 : rbc bank ( usa ) and pnc unaudited pro forma results .']
Tabular Data:
========================================
in millions, for the year ended december 31 2012, for the year ended december 31 2011
total revenues, $ 15721, $ 15421
net income, 2989, 2911
========================================
Follow-up: ['in connection with the rbc bank ( usa ) acquisition and other prior acquisitions , pnc recognized $ 267 million of integration charges in 2012 .', 'pnc recognized $ 42 million of integration charges in 2011 in connection with prior acquisitions .', 'the integration charges are included in the table above .', 'sale of smartstreet effective october 26 , 2012 , pnc divested certain deposits and assets of the smartstreet business unit , which was acquired by pnc as part of the rbc bank ( usa ) acquisition , to union bank , n.a .', 'smartstreet is a nationwide business focused on homeowner or community association managers and had approximately $ 1 billion of assets and deposits as of september 30 , 2012 .', 'the gain on sale was immaterial and resulted in a reduction of goodwill and core deposit intangibles of $ 46 million and $ 13 million , respectively .', 'results from operations of smartstreet from march 2 , 2012 through october 26 , 2012 are included in our consolidated income statement .', 'flagstar branch acquisition effective december 9 , 2011 , pnc acquired 27 branches in the northern metropolitan atlanta , georgia area from flagstar bank , fsb , a subsidiary of flagstar bancorp , inc .', 'the fair value of the assets acquired totaled approximately $ 211.8 million , including $ 169.3 million in cash , $ 24.3 million in fixed assets and $ 18.2 million of goodwill and intangible assets .', 'we also assumed approximately $ 210.5 million of deposits associated with these branches .', 'no deposit premium was paid and no loans were acquired in the transaction .', 'our consolidated income statement includes the impact of the branch activity subsequent to our december 9 , 2011 acquisition .', 'bankatlantic branch acquisition effective june 6 , 2011 , we acquired 19 branches in the greater tampa , florida area from bankatlantic , a subsidiary of bankatlantic bancorp , inc .', 'the fair value of the assets acquired totaled $ 324.9 million , including $ 256.9 million in cash , $ 26.0 million in fixed assets and $ 42.0 million of goodwill and intangible assets .', 'we also assumed approximately $ 324.5 million of deposits associated with these branches .', 'a $ 39.0 million deposit premium was paid and no loans were acquired in the transaction .', 'our consolidated income statement includes the impact of the branch activity subsequent to our june 6 , 2011 acquisition .', 'sale of pnc global investment servicing on july 1 , 2010 , we sold pnc global investment servicing inc .', '( gis ) , a leading provider of processing , technology and business intelligence services to asset managers , broker- dealers and financial advisors worldwide , for $ 2.3 billion in cash pursuant to a definitive agreement entered into on february 2 , 2010 .', 'this transaction resulted in a pretax gain of $ 639 million , net of transaction costs , in the third quarter of 2010 .', 'this gain and results of operations of gis through june 30 , 2010 are presented as income from discontinued operations , net of income taxes , on our consolidated income statement .', 'as part of the sale agreement , pnc has agreed to provide certain transitional services on behalf of gis until completion of related systems conversion activities .', '138 the pnc financial services group , inc .', '2013 form 10-k .'] | 0.7907 | PNC/2012/page_157.pdf-6 | ['see note 10 goodwill and other intangible assets for further discussion of the accounting for goodwill and other intangible assets .', 'the estimated amount of rbc bank ( usa ) revenue and net income ( excluding integration costs ) included in pnc 2019s consolidated income statement for 2012 was $ 1.0 billion and $ 273 million , respectively .', 'upon closing and conversion of the rbc bank ( usa ) transaction , subsequent to march 2 , 2012 , separate records for rbc bank ( usa ) as a stand-alone business have not been maintained as the operations of rbc bank ( usa ) have been fully integrated into pnc .', 'rbc bank ( usa ) revenue and earnings disclosed above reflect management 2019s best estimate , based on information available at the reporting date .', 'the following table presents certain unaudited pro forma information for illustrative purposes only , for 2012 and 2011 as if rbc bank ( usa ) had been acquired on january 1 , 2011 .', 'the unaudited estimated pro forma information combines the historical results of rbc bank ( usa ) with the company 2019s consolidated historical results and includes certain adjustments reflecting the estimated impact of certain fair value adjustments for the respective periods .', 'the pro forma information is not indicative of what would have occurred had the acquisition taken place on january 1 , 2011 .', 'in particular , no adjustments have been made to eliminate the impact of other-than-temporary impairment losses and losses recognized on the sale of securities that may not have been necessary had the investment securities been recorded at fair value as of january 1 , 2011 .', 'the unaudited pro forma information does not consider any changes to the provision for credit losses resulting from recording loan assets at fair value .', 'additionally , the pro forma financial information does not include the impact of possible business model changes and does not reflect pro forma adjustments to conform accounting policies between rbc bank ( usa ) and pnc .', 'additionally , pnc expects to achieve further operating cost savings and other business synergies , including revenue growth , as a result of the acquisition that are not reflected in the pro forma amounts that follow .', 'as a result , actual results will differ from the unaudited pro forma information presented .', 'table 57 : rbc bank ( usa ) and pnc unaudited pro forma results .'] | ['in connection with the rbc bank ( usa ) acquisition and other prior acquisitions , pnc recognized $ 267 million of integration charges in 2012 .', 'pnc recognized $ 42 million of integration charges in 2011 in connection with prior acquisitions .', 'the integration charges are included in the table above .', 'sale of smartstreet effective october 26 , 2012 , pnc divested certain deposits and assets of the smartstreet business unit , which was acquired by pnc as part of the rbc bank ( usa ) acquisition , to union bank , n.a .', 'smartstreet is a nationwide business focused on homeowner or community association managers and had approximately $ 1 billion of assets and deposits as of september 30 , 2012 .', 'the gain on sale was immaterial and resulted in a reduction of goodwill and core deposit intangibles of $ 46 million and $ 13 million , respectively .', 'results from operations of smartstreet from march 2 , 2012 through october 26 , 2012 are included in our consolidated income statement .', 'flagstar branch acquisition effective december 9 , 2011 , pnc acquired 27 branches in the northern metropolitan atlanta , georgia area from flagstar bank , fsb , a subsidiary of flagstar bancorp , inc .', 'the fair value of the assets acquired totaled approximately $ 211.8 million , including $ 169.3 million in cash , $ 24.3 million in fixed assets and $ 18.2 million of goodwill and intangible assets .', 'we also assumed approximately $ 210.5 million of deposits associated with these branches .', 'no deposit premium was paid and no loans were acquired in the transaction .', 'our consolidated income statement includes the impact of the branch activity subsequent to our december 9 , 2011 acquisition .', 'bankatlantic branch acquisition effective june 6 , 2011 , we acquired 19 branches in the greater tampa , florida area from bankatlantic , a subsidiary of bankatlantic bancorp , inc .', 'the fair value of the assets acquired totaled $ 324.9 million , including $ 256.9 million in cash , $ 26.0 million in fixed assets and $ 42.0 million of goodwill and intangible assets .', 'we also assumed approximately $ 324.5 million of deposits associated with these branches .', 'a $ 39.0 million deposit premium was paid and no loans were acquired in the transaction .', 'our consolidated income statement includes the impact of the branch activity subsequent to our june 6 , 2011 acquisition .', 'sale of pnc global investment servicing on july 1 , 2010 , we sold pnc global investment servicing inc .', '( gis ) , a leading provider of processing , technology and business intelligence services to asset managers , broker- dealers and financial advisors worldwide , for $ 2.3 billion in cash pursuant to a definitive agreement entered into on february 2 , 2010 .', 'this transaction resulted in a pretax gain of $ 639 million , net of transaction costs , in the third quarter of 2010 .', 'this gain and results of operations of gis through june 30 , 2010 are presented as income from discontinued operations , net of income taxes , on our consolidated income statement .', 'as part of the sale agreement , pnc has agreed to provide certain transitional services on behalf of gis until completion of related systems conversion activities .', '138 the pnc financial services group , inc .', '2013 form 10-k .'] | ========================================
in millions, for the year ended december 31 2012, for the year ended december 31 2011
total revenues, $ 15721, $ 15421
net income, 2989, 2911
======================================== | divide(256.9, 324.9) | 0.7907 |
what was the change in millions between 2015 and 2016 of foreign currency transaction gains ( losses ) for aes corporation? | Pre-text: ['the net decrease in the 2016 effective tax rate was due , in part , to the 2016 asset impairments in the u.s .', 'and to the current year benefit related to a restructuring of one of our brazilian businesses that increases tax basis in long-term assets .', 'further , the 2015 rate was impacted by the items described below .', 'see note 20 2014asset impairment expense for additional information regarding the 2016 u.s .', 'asset impairments .', 'income tax expense increased $ 101 million , or 27% ( 27 % ) , to $ 472 million in 2015 .', "the company's effective tax rates were 41% ( 41 % ) and 26% ( 26 % ) for the years ended december 31 , 2015 and 2014 , respectively .", 'the net increase in the 2015 effective tax rate was due , in part , to the nondeductible 2015 impairment of goodwill at our u.s .', 'utility , dp&l and chilean withholding taxes offset by the release of valuation allowance at certain of our businesses in brazil , vietnam and the u.s .', 'further , the 2014 rate was impacted by the sale of approximately 45% ( 45 % ) of the company 2019s interest in masin aes pte ltd. , which owns the company 2019s business interests in the philippines and the 2014 sale of the company 2019s interests in four u.k .', 'wind operating projects .', 'neither of these transactions gave rise to income tax expense .', 'see note 15 2014equity for additional information regarding the sale of approximately 45% ( 45 % ) of the company 2019s interest in masin-aes pte ltd .', 'see note 23 2014dispositions for additional information regarding the sale of the company 2019s interests in four u.k .', 'wind operating projects .', 'our effective tax rate reflects the tax effect of significant operations outside the u.s. , which are generally taxed at rates lower than the u.s .', 'statutory rate of 35% ( 35 % ) .', 'a future proportionate change in the composition of income before income taxes from foreign and domestic tax jurisdictions could impact our periodic effective tax rate .', 'the company also benefits from reduced tax rates in certain countries as a result of satisfying specific commitments regarding employment and capital investment .', 'see note 21 2014income taxes for additional information regarding these reduced rates .', 'foreign currency transaction gains ( losses ) foreign currency transaction gains ( losses ) in millions were as follows: .']
####
Tabular Data:
----------------------------------------
• years ended december 31,, 2016, 2015, 2014
• aes corporation, $ -50 ( 50 ), $ -31 ( 31 ), $ -34 ( 34 )
• chile, -9 ( 9 ), -18 ( 18 ), -30 ( 30 )
• colombia, -8 ( 8 ), 29, 17
• mexico, -8 ( 8 ), -6 ( 6 ), -14 ( 14 )
• philippines, 12, 8, 11
• united kingdom, 13, 11, 12
• argentina, 37, 124, 66
• other, -2 ( 2 ), -10 ( 10 ), -17 ( 17 )
• total ( 1 ), $ -15 ( 15 ), $ 107, $ 11
----------------------------------------
####
Additional Information: ['total ( 1 ) $ ( 15 ) $ 107 $ 11 _____________________________ ( 1 ) includes gains of $ 17 million , $ 247 million and $ 172 million on foreign currency derivative contracts for the years ended december 31 , 2016 , 2015 and 2014 , respectively .', 'the company recognized a net foreign currency transaction loss of $ 15 million for the year ended december 31 , 2016 primarily due to losses of $ 50 million at the aes corporation mainly due to remeasurement losses on intercompany notes , and losses on swaps and options .', 'this loss was partially offset by gains of $ 37 million in argentina , mainly due to the favorable impact of foreign currency derivatives related to government receivables .', 'the company recognized a net foreign currency transaction gain of $ 107 million for the year ended december 31 , 2015 primarily due to gains of : 2022 $ 124 million in argentina , due to the favorable impact from foreign currency derivatives related to government receivables , partially offset by losses from the devaluation of the argentine peso associated with u.s .', 'dollar denominated debt , and losses at termoandes ( a u.s .', 'dollar functional currency subsidiary ) primarily associated with cash and accounts receivable balances in local currency , 2022 $ 29 million in colombia , mainly due to the depreciation of the colombian peso , positively impacting chivor ( a u.s .', 'dollar functional currency subsidiary ) due to liabilities denominated in colombian pesos , 2022 $ 11 million in the united kingdom , mainly due to the depreciation of the pound sterling , resulting in gains at ballylumford holdings ( a u.s .', 'dollar functional currency subsidiary ) associated with intercompany notes payable denominated in pound sterling , and .'] | -19.0 | AES/2016/page_98.pdf-2 | ['the net decrease in the 2016 effective tax rate was due , in part , to the 2016 asset impairments in the u.s .', 'and to the current year benefit related to a restructuring of one of our brazilian businesses that increases tax basis in long-term assets .', 'further , the 2015 rate was impacted by the items described below .', 'see note 20 2014asset impairment expense for additional information regarding the 2016 u.s .', 'asset impairments .', 'income tax expense increased $ 101 million , or 27% ( 27 % ) , to $ 472 million in 2015 .', "the company's effective tax rates were 41% ( 41 % ) and 26% ( 26 % ) for the years ended december 31 , 2015 and 2014 , respectively .", 'the net increase in the 2015 effective tax rate was due , in part , to the nondeductible 2015 impairment of goodwill at our u.s .', 'utility , dp&l and chilean withholding taxes offset by the release of valuation allowance at certain of our businesses in brazil , vietnam and the u.s .', 'further , the 2014 rate was impacted by the sale of approximately 45% ( 45 % ) of the company 2019s interest in masin aes pte ltd. , which owns the company 2019s business interests in the philippines and the 2014 sale of the company 2019s interests in four u.k .', 'wind operating projects .', 'neither of these transactions gave rise to income tax expense .', 'see note 15 2014equity for additional information regarding the sale of approximately 45% ( 45 % ) of the company 2019s interest in masin-aes pte ltd .', 'see note 23 2014dispositions for additional information regarding the sale of the company 2019s interests in four u.k .', 'wind operating projects .', 'our effective tax rate reflects the tax effect of significant operations outside the u.s. , which are generally taxed at rates lower than the u.s .', 'statutory rate of 35% ( 35 % ) .', 'a future proportionate change in the composition of income before income taxes from foreign and domestic tax jurisdictions could impact our periodic effective tax rate .', 'the company also benefits from reduced tax rates in certain countries as a result of satisfying specific commitments regarding employment and capital investment .', 'see note 21 2014income taxes for additional information regarding these reduced rates .', 'foreign currency transaction gains ( losses ) foreign currency transaction gains ( losses ) in millions were as follows: .'] | ['total ( 1 ) $ ( 15 ) $ 107 $ 11 _____________________________ ( 1 ) includes gains of $ 17 million , $ 247 million and $ 172 million on foreign currency derivative contracts for the years ended december 31 , 2016 , 2015 and 2014 , respectively .', 'the company recognized a net foreign currency transaction loss of $ 15 million for the year ended december 31 , 2016 primarily due to losses of $ 50 million at the aes corporation mainly due to remeasurement losses on intercompany notes , and losses on swaps and options .', 'this loss was partially offset by gains of $ 37 million in argentina , mainly due to the favorable impact of foreign currency derivatives related to government receivables .', 'the company recognized a net foreign currency transaction gain of $ 107 million for the year ended december 31 , 2015 primarily due to gains of : 2022 $ 124 million in argentina , due to the favorable impact from foreign currency derivatives related to government receivables , partially offset by losses from the devaluation of the argentine peso associated with u.s .', 'dollar denominated debt , and losses at termoandes ( a u.s .', 'dollar functional currency subsidiary ) primarily associated with cash and accounts receivable balances in local currency , 2022 $ 29 million in colombia , mainly due to the depreciation of the colombian peso , positively impacting chivor ( a u.s .', 'dollar functional currency subsidiary ) due to liabilities denominated in colombian pesos , 2022 $ 11 million in the united kingdom , mainly due to the depreciation of the pound sterling , resulting in gains at ballylumford holdings ( a u.s .', 'dollar functional currency subsidiary ) associated with intercompany notes payable denominated in pound sterling , and .'] | ----------------------------------------
• years ended december 31,, 2016, 2015, 2014
• aes corporation, $ -50 ( 50 ), $ -31 ( 31 ), $ -34 ( 34 )
• chile, -9 ( 9 ), -18 ( 18 ), -30 ( 30 )
• colombia, -8 ( 8 ), 29, 17
• mexico, -8 ( 8 ), -6 ( 6 ), -14 ( 14 )
• philippines, 12, 8, 11
• united kingdom, 13, 11, 12
• argentina, 37, 124, 66
• other, -2 ( 2 ), -10 ( 10 ), -17 ( 17 )
• total ( 1 ), $ -15 ( 15 ), $ 107, $ 11
---------------------------------------- | subtract(-50, -31) | -19.0 |
what was the percentage of cumulative total shareholder return for the five year period ended september 2014 for apple inc.? | Background: ['table of contents 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 dow jones u.s .', 'technology supersector index and the s&p information technology index for the five years ended september 27 , 2014 .', 'the company has added the s&p information technology index to the graph to capture the stock performance of companies whose products and services relate to those of the company .', 'the s&p information technology index replaces the s&p computer hardware index , which is no longer tracked by s&p .', 'the graph assumes $ 100 was invested in each of the company 2019s common stock , the s&p 500 index , the dow jones u.s .', 'technology supersector index and the s&p information technology index as of the market close on september 25 , 2009 .', 'note that historic stock price performance is not necessarily indicative of future stock price performance .', 'copyright a9 2014 s&p , a division of the mcgraw-hill companies inc .', 'all rights reserved .', 'copyright a9 2014 dow jones & co .', 'all rights reserved .', 'apple inc .', '| 2014 form 10-k | 23 * $ 100 invested on 9/25/09 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 .', 'september september september september september september .']
####
Tabular Data:
****************************************
• , september 2009, september 2010, september 2011, september 2012, september 2013, september 2014
• apple inc ., $ 100, $ 160, $ 222, $ 367, $ 272, $ 407
• s&p 500 index, $ 100, $ 110, $ 111, $ 145, $ 173, $ 207
• dow jones u.s . technology supersector index, $ 100, $ 112, $ 115, $ 150, $ 158, $ 205
• s&p information technology index, $ 100, $ 111, $ 115, $ 152, $ 163, $ 210
****************************************
####
Post-table: ['.'] | 3.07 | AAPL/2014/page_26.pdf-1 | ['table of contents 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 dow jones u.s .', 'technology supersector index and the s&p information technology index for the five years ended september 27 , 2014 .', 'the company has added the s&p information technology index to the graph to capture the stock performance of companies whose products and services relate to those of the company .', 'the s&p information technology index replaces the s&p computer hardware index , which is no longer tracked by s&p .', 'the graph assumes $ 100 was invested in each of the company 2019s common stock , the s&p 500 index , the dow jones u.s .', 'technology supersector index and the s&p information technology index as of the market close on september 25 , 2009 .', 'note that historic stock price performance is not necessarily indicative of future stock price performance .', 'copyright a9 2014 s&p , a division of the mcgraw-hill companies inc .', 'all rights reserved .', 'copyright a9 2014 dow jones & co .', 'all rights reserved .', 'apple inc .', '| 2014 form 10-k | 23 * $ 100 invested on 9/25/09 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 .', 'september september september september september september .'] | ['.'] | ****************************************
• , september 2009, september 2010, september 2011, september 2012, september 2013, september 2014
• apple inc ., $ 100, $ 160, $ 222, $ 367, $ 272, $ 407
• s&p 500 index, $ 100, $ 110, $ 111, $ 145, $ 173, $ 207
• dow jones u.s . technology supersector index, $ 100, $ 112, $ 115, $ 150, $ 158, $ 205
• s&p information technology index, $ 100, $ 111, $ 115, $ 152, $ 163, $ 210
**************************************** | subtract(407, 100), divide(#0, 100) | 3.07 |
what portion of the expected payments within the next 12 months is allocated to the repayment of long-term debt? | Context: ['off-balance sheet transactions contractual obligations as of december 31 , 2017 , our contractual obligations with initial or remaining terms in excess of one year , including interest payments on long-term debt obligations , were as follows ( in thousands ) : the table above does not include $ 0.5 million of unrecognized tax benefits ( we refer you to the notes to the consolidated financial statements note 201410 201cincome tax 201d ) .', 'certain service providers may require collateral in the normal course of our business .', 'the amount of collateral may change based on certain terms and conditions .', 'as a routine part of our business , depending on market conditions , exchange rates , pricing and our strategy for growth , we regularly consider opportunities to enter into contracts for the building of additional ships .', 'we may also consider the sale of ships , potential acquisitions and strategic alliances .', 'if any of these transactions were to occur , they may be financed through the incurrence of additional permitted indebtedness , through cash flows from operations , or through the issuance of debt , equity or equity-related securities .', 'funding sources certain of our debt agreements contain covenants that , among other things , require us to maintain a minimum level of liquidity , as well as limit our net funded debt-to-capital ratio , maintain certain other ratios and restrict our ability to pay dividends .', 'substantially all of our ships and other property and equipment are pledged as collateral for certain of our debt .', 'we believe we were in compliance with these covenants as of december 31 , 2017 .', 'the impact of changes in world economies and especially the global credit markets can create a challenging environment and may reduce future consumer demand for cruises and adversely affect our counterparty credit risks .', 'in the event this environment deteriorates , our business , financial condition and results of operations could be adversely impacted .', 'we believe our cash on hand , expected future operating cash inflows , additional available borrowings under our new revolving loan facility and our ability to issue debt securities or additional equity securities , will be sufficient to fund operations , debt payment requirements , capital expenditures and maintain compliance with covenants under our debt agreements over the next twelve-month period .', 'there is no assurance that cash flows from operations and additional financings will be available in the future to fund our future obligations .', 'less than 1 year 1-3 years 3-5 years more than 5 years long-term debt ( 1 ) $ 6424582 $ 619373 $ 1248463 $ 3002931 $ 1553815 operating leases ( 2 ) 131791 15204 28973 26504 61110 ship construction contracts ( 3 ) 6138219 1016892 1363215 1141212 2616900 port facilities ( 4 ) 138308 30509 43388 23316 41095 interest ( 5 ) 947967 218150 376566 203099 150152 other ( 6 ) 168678 54800 73653 23870 16355 .']
--------
Tabular Data:
========================================
, total, less than1 year, 1-3 years, 3-5 years, more than5 years
long-term debt ( 1 ), $ 6424582, $ 619373, $ 1248463, $ 3002931, $ 1553815
operating leases ( 2 ), 131791, 15204, 28973, 26504, 61110
ship construction contracts ( 3 ), 6138219, 1016892, 1363215, 1141212, 2616900
port facilities ( 4 ), 138308, 30509, 43388, 23316, 41095
interest ( 5 ), 947967, 218150, 376566, 203099, 150152
other ( 6 ), 168678, 54800, 73653, 23870, 16355
total, $ 13949545, $ 1954928, $ 3134258, $ 4420932, $ 4439427
========================================
--------
Post-table: ['( 1 ) includes discount and premiums aggregating $ 0.5 million .', 'also includes capital leases .', 'the amount excludes deferred financing fees which are included in the consolidated balance sheets as an offset to long-term debt .', '( 2 ) primarily for offices , motor vehicles and office equipment .', '( 3 ) for our newbuild ships based on the euro/u.s .', 'dollar exchange rate as of december 31 , 2017 .', 'export credit financing is in place from syndicates of banks .', '( 4 ) primarily for our usage of certain port facilities .', '( 5 ) includes fixed and variable rates with libor held constant as of december 31 , 2017 .', '( 6 ) future commitments for service , maintenance and other business enhancement capital expenditure contracts. .'] | 0.31683 | NCLH/2017/page_57.pdf-2 | ['off-balance sheet transactions contractual obligations as of december 31 , 2017 , our contractual obligations with initial or remaining terms in excess of one year , including interest payments on long-term debt obligations , were as follows ( in thousands ) : the table above does not include $ 0.5 million of unrecognized tax benefits ( we refer you to the notes to the consolidated financial statements note 201410 201cincome tax 201d ) .', 'certain service providers may require collateral in the normal course of our business .', 'the amount of collateral may change based on certain terms and conditions .', 'as a routine part of our business , depending on market conditions , exchange rates , pricing and our strategy for growth , we regularly consider opportunities to enter into contracts for the building of additional ships .', 'we may also consider the sale of ships , potential acquisitions and strategic alliances .', 'if any of these transactions were to occur , they may be financed through the incurrence of additional permitted indebtedness , through cash flows from operations , or through the issuance of debt , equity or equity-related securities .', 'funding sources certain of our debt agreements contain covenants that , among other things , require us to maintain a minimum level of liquidity , as well as limit our net funded debt-to-capital ratio , maintain certain other ratios and restrict our ability to pay dividends .', 'substantially all of our ships and other property and equipment are pledged as collateral for certain of our debt .', 'we believe we were in compliance with these covenants as of december 31 , 2017 .', 'the impact of changes in world economies and especially the global credit markets can create a challenging environment and may reduce future consumer demand for cruises and adversely affect our counterparty credit risks .', 'in the event this environment deteriorates , our business , financial condition and results of operations could be adversely impacted .', 'we believe our cash on hand , expected future operating cash inflows , additional available borrowings under our new revolving loan facility and our ability to issue debt securities or additional equity securities , will be sufficient to fund operations , debt payment requirements , capital expenditures and maintain compliance with covenants under our debt agreements over the next twelve-month period .', 'there is no assurance that cash flows from operations and additional financings will be available in the future to fund our future obligations .', 'less than 1 year 1-3 years 3-5 years more than 5 years long-term debt ( 1 ) $ 6424582 $ 619373 $ 1248463 $ 3002931 $ 1553815 operating leases ( 2 ) 131791 15204 28973 26504 61110 ship construction contracts ( 3 ) 6138219 1016892 1363215 1141212 2616900 port facilities ( 4 ) 138308 30509 43388 23316 41095 interest ( 5 ) 947967 218150 376566 203099 150152 other ( 6 ) 168678 54800 73653 23870 16355 .'] | ['( 1 ) includes discount and premiums aggregating $ 0.5 million .', 'also includes capital leases .', 'the amount excludes deferred financing fees which are included in the consolidated balance sheets as an offset to long-term debt .', '( 2 ) primarily for offices , motor vehicles and office equipment .', '( 3 ) for our newbuild ships based on the euro/u.s .', 'dollar exchange rate as of december 31 , 2017 .', 'export credit financing is in place from syndicates of banks .', '( 4 ) primarily for our usage of certain port facilities .', '( 5 ) includes fixed and variable rates with libor held constant as of december 31 , 2017 .', '( 6 ) future commitments for service , maintenance and other business enhancement capital expenditure contracts. .'] | ========================================
, total, less than1 year, 1-3 years, 3-5 years, more than5 years
long-term debt ( 1 ), $ 6424582, $ 619373, $ 1248463, $ 3002931, $ 1553815
operating leases ( 2 ), 131791, 15204, 28973, 26504, 61110
ship construction contracts ( 3 ), 6138219, 1016892, 1363215, 1141212, 2616900
port facilities ( 4 ), 138308, 30509, 43388, 23316, 41095
interest ( 5 ), 947967, 218150, 376566, 203099, 150152
other ( 6 ), 168678, 54800, 73653, 23870, 16355
total, $ 13949545, $ 1954928, $ 3134258, $ 4420932, $ 4439427
======================================== | divide(619373, 1954928) | 0.31683 |
what portion of the of unrecognized tax benefits would have an impact in the effective tax rate if recognized? | Pre-text: ['notes to consolidated financial statements uncertain tax provisions as described in note 1 , the company adopted fin 48 on january 1 , 2007 .', 'the effect of adopting fin 48 was not material to the company 2019s financial statements .', 'the following is a reconciliation of the company 2019s beginning and ending amount of unrecognized tax benefits ( in millions ) . .']
##
Table:
----------------------------------------
balance at january 1 2007 | $ 53
----------|----------
additions based on tax positions related to the current year | 4
additions for tax positions of prior years | 24
reductions for tax positions of prior years | -6 ( 6 )
settlements | -5 ( 5 )
balance at december 31 2007 | $ 70
----------------------------------------
##
Post-table: ['of the amount included in the previous table , $ 57 million of unrecognized tax benefits would impact the effective tax rate if recognized .', 'aon does not expect the unrecognized tax positions to change significantly over the next twelve months .', 'the company recognizes interest and penalties related to unrecognized income tax benefits in its provision for income taxes .', 'aon accrued potential penalties and interest of less than $ 1 million related to unrecognized tax positions during 2007 .', 'in total , as of december 31 , 2007 , aon has recorded a liability for penalties and interest of $ 1 million and $ 7 million , respectively .', 'aon and its subsidiaries file income tax returns in the u.s .', 'federal jurisdiction as well as various state and international jurisdictions .', 'aon has substantially concluded all u.s .', 'federal income tax matters for years through 2004 .', 'the internal revenue service commenced an examination of aon 2019s federal u.s .', 'income tax returns for 2005 and 2006 in the fourth quarter of 2007 .', 'material u.s .', 'state and local income tax jurisdiction examinations have been concluded for years through 2002 .', 'aon has concluded income tax examinations in its primary international jurisdictions through 2000 .', 'aon corporation .'] | 0.81429 | AON/2007/page_188.pdf-2 | ['notes to consolidated financial statements uncertain tax provisions as described in note 1 , the company adopted fin 48 on january 1 , 2007 .', 'the effect of adopting fin 48 was not material to the company 2019s financial statements .', 'the following is a reconciliation of the company 2019s beginning and ending amount of unrecognized tax benefits ( in millions ) . .'] | ['of the amount included in the previous table , $ 57 million of unrecognized tax benefits would impact the effective tax rate if recognized .', 'aon does not expect the unrecognized tax positions to change significantly over the next twelve months .', 'the company recognizes interest and penalties related to unrecognized income tax benefits in its provision for income taxes .', 'aon accrued potential penalties and interest of less than $ 1 million related to unrecognized tax positions during 2007 .', 'in total , as of december 31 , 2007 , aon has recorded a liability for penalties and interest of $ 1 million and $ 7 million , respectively .', 'aon and its subsidiaries file income tax returns in the u.s .', 'federal jurisdiction as well as various state and international jurisdictions .', 'aon has substantially concluded all u.s .', 'federal income tax matters for years through 2004 .', 'the internal revenue service commenced an examination of aon 2019s federal u.s .', 'income tax returns for 2005 and 2006 in the fourth quarter of 2007 .', 'material u.s .', 'state and local income tax jurisdiction examinations have been concluded for years through 2002 .', 'aon has concluded income tax examinations in its primary international jurisdictions through 2000 .', 'aon corporation .'] | ----------------------------------------
balance at january 1 2007 | $ 53
----------|----------
additions based on tax positions related to the current year | 4
additions for tax positions of prior years | 24
reductions for tax positions of prior years | -6 ( 6 )
settlements | -5 ( 5 )
balance at december 31 2007 | $ 70
---------------------------------------- | divide(57, 70) | 0.81429 |
what percentage of total goodwill does energy services represent at december 31 , 2007? | Pre-text: ['impairment of long-lived assets , goodwill and intangible assets - we assess our long-lived assets for impairment based on statement 144 , 201caccounting for the impairment or disposal of long-lived assets . 201d a long-lived asset is tested for impairment whenever events or changes in circumstances indicate that its carrying amount may exceed its fair value .', 'fair values are based on the sum of the undiscounted future cash flows expected to result from the use and eventual disposition of the assets .', 'we assess our goodwill and intangible assets for impairment at least annually based on statement 142 , 201cgoodwill and other intangible assets . 201d there were no impairment charges resulting from the july 1 , 2007 , impairment tests and no events indicating an impairment have occurred subsequent to that date .', 'an initial assessment is made by comparing the fair value of the operations with goodwill , as determined in accordance with statement 142 , to the book value of each reporting unit .', 'if the fair value is less than the book value , an impairment is indicated , and we must perform a second test to measure the amount of the impairment .', 'in the second test , we calculate the implied fair value of the goodwill by deducting the fair value of all tangible and intangible net assets of the operations with goodwill from the fair value determined in step one of the assessment .', 'if the carrying value of the goodwill exceeds this calculated implied fair value of the goodwill , we will record an impairment charge .', 'at december 31 , 2007 , we had $ 600.7 million of goodwill recorded on our consolidated balance sheet as shown below. .']
Table:
****************************************
, ( thousands of dollars )
oneok partners, $ 431418
distribution, 157953
energy services, 10255
other, 1099
total goodwill, $ 600725
****************************************
Additional Information: ['( thousands of dollars ) intangible assets with a finite useful life are amortized over their estimated useful life , while intangible assets with an indefinite useful life are not amortized .', 'all intangible assets are subject to impairment testing .', 'our oneok partners segment had $ 443.0 million of intangible assets recorded on our consolidated balance sheet as of december 31 , 2007 , of which $ 287.5 million is being amortized over an aggregate weighted-average period of 40 years , while the remaining balance has an indefinite life .', 'during 2006 , we recorded a goodwill and asset impairment related to oneok partners 2019 black mesa pipeline of $ 8.4 million and $ 3.6 million , respectively , which were recorded as depreciation and amortization .', 'the reduction to our net income , net of minority interests and income taxes , was $ 3.0 million .', 'in the third quarter of 2005 , we made the decision to sell our spring creek power plant , located in oklahoma , and exit the power generation business .', 'in october 2005 , we concluded that our spring creek power plant had been impaired and recorded an impairment expense of $ 52.2 million .', 'this conclusion was based on our statement 144 impairment analysis of the results of operations for this plant through september 30 , 2005 , and also the net sales proceeds from the anticipated sale of the plant .', 'the sale was completed on october 31 , 2006 .', 'this component of our business is accounted for as discontinued operations in accordance with statement 144 .', 'see 201cdiscontinued operations 201d on page 46 for additional information .', 'our total unamortized excess cost over underlying fair value of net assets accounted for under the equity method was $ 185.6 million as of december 31 , 2007 and 2006 .', 'based on statement 142 , this amount , referred to as equity method goodwill , should continue to be recognized in accordance with apb opinion no .', '18 , 201cthe equity method of accounting for investments in common stock . 201d accordingly , we included this amount in investment in unconsolidated affiliates on our accompanying consolidated balance sheets .', 'pension and postretirement employee benefits - we have defined benefit retirement plans covering certain full-time employees .', 'we sponsor welfare plans that provide postretirement medical and life insurance benefits to certain employees who retire with at least five years of service .', 'our actuarial consultant calculates the expense and liability related to these plans and uses statistical and other factors that attempt to anticipate future events .', 'these factors include assumptions about the discount rate , expected return on plan assets , rate of future compensation increases , age and employment periods .', 'in determining the projected benefit obligations and costs , assumptions can change from period to period and result in material changes in the costs and liabilities we recognize .', 'see note j of the notes to consolidated financial statements in this annual report on form 10-k for additional information. .'] | 0.01707 | OKE/2007/page_51.pdf-2 | ['impairment of long-lived assets , goodwill and intangible assets - we assess our long-lived assets for impairment based on statement 144 , 201caccounting for the impairment or disposal of long-lived assets . 201d a long-lived asset is tested for impairment whenever events or changes in circumstances indicate that its carrying amount may exceed its fair value .', 'fair values are based on the sum of the undiscounted future cash flows expected to result from the use and eventual disposition of the assets .', 'we assess our goodwill and intangible assets for impairment at least annually based on statement 142 , 201cgoodwill and other intangible assets . 201d there were no impairment charges resulting from the july 1 , 2007 , impairment tests and no events indicating an impairment have occurred subsequent to that date .', 'an initial assessment is made by comparing the fair value of the operations with goodwill , as determined in accordance with statement 142 , to the book value of each reporting unit .', 'if the fair value is less than the book value , an impairment is indicated , and we must perform a second test to measure the amount of the impairment .', 'in the second test , we calculate the implied fair value of the goodwill by deducting the fair value of all tangible and intangible net assets of the operations with goodwill from the fair value determined in step one of the assessment .', 'if the carrying value of the goodwill exceeds this calculated implied fair value of the goodwill , we will record an impairment charge .', 'at december 31 , 2007 , we had $ 600.7 million of goodwill recorded on our consolidated balance sheet as shown below. .'] | ['( thousands of dollars ) intangible assets with a finite useful life are amortized over their estimated useful life , while intangible assets with an indefinite useful life are not amortized .', 'all intangible assets are subject to impairment testing .', 'our oneok partners segment had $ 443.0 million of intangible assets recorded on our consolidated balance sheet as of december 31 , 2007 , of which $ 287.5 million is being amortized over an aggregate weighted-average period of 40 years , while the remaining balance has an indefinite life .', 'during 2006 , we recorded a goodwill and asset impairment related to oneok partners 2019 black mesa pipeline of $ 8.4 million and $ 3.6 million , respectively , which were recorded as depreciation and amortization .', 'the reduction to our net income , net of minority interests and income taxes , was $ 3.0 million .', 'in the third quarter of 2005 , we made the decision to sell our spring creek power plant , located in oklahoma , and exit the power generation business .', 'in october 2005 , we concluded that our spring creek power plant had been impaired and recorded an impairment expense of $ 52.2 million .', 'this conclusion was based on our statement 144 impairment analysis of the results of operations for this plant through september 30 , 2005 , and also the net sales proceeds from the anticipated sale of the plant .', 'the sale was completed on october 31 , 2006 .', 'this component of our business is accounted for as discontinued operations in accordance with statement 144 .', 'see 201cdiscontinued operations 201d on page 46 for additional information .', 'our total unamortized excess cost over underlying fair value of net assets accounted for under the equity method was $ 185.6 million as of december 31 , 2007 and 2006 .', 'based on statement 142 , this amount , referred to as equity method goodwill , should continue to be recognized in accordance with apb opinion no .', '18 , 201cthe equity method of accounting for investments in common stock . 201d accordingly , we included this amount in investment in unconsolidated affiliates on our accompanying consolidated balance sheets .', 'pension and postretirement employee benefits - we have defined benefit retirement plans covering certain full-time employees .', 'we sponsor welfare plans that provide postretirement medical and life insurance benefits to certain employees who retire with at least five years of service .', 'our actuarial consultant calculates the expense and liability related to these plans and uses statistical and other factors that attempt to anticipate future events .', 'these factors include assumptions about the discount rate , expected return on plan assets , rate of future compensation increases , age and employment periods .', 'in determining the projected benefit obligations and costs , assumptions can change from period to period and result in material changes in the costs and liabilities we recognize .', 'see note j of the notes to consolidated financial statements in this annual report on form 10-k for additional information. .'] | ****************************************
, ( thousands of dollars )
oneok partners, $ 431418
distribution, 157953
energy services, 10255
other, 1099
total goodwill, $ 600725
**************************************** | divide(10255, 600725) | 0.01707 |
in billions , what was the change between 2011 and 2012 in net outstanding standby letters of credit? | Background: ['table 153 : net outstanding standby letters of credit dollars in billions december 31 december 31 .']
Tabular Data:
****************************************
dollars in billions december 31 2012 december 312011
net outstanding standby letters of credit $ 11.5 $ 10.8
internal credit ratings ( as a percentage of portfolio ) :
pass ( a ) 95% ( 95 % ) 94% ( 94 % )
below pass ( b ) 5% ( 5 % ) 6% ( 6 % )
****************************************
Additional Information: ['( a ) indicates that expected risk of loss is currently low .', '( b ) indicates a higher degree of risk of default .', 'if the customer fails to meet its financial or performance obligation to the third party under the terms of the contract or there is a need to support a remarketing program , then upon the request of the guaranteed party , subject to the terms of the letter of credit , we would be obligated to make payment to them .', 'the standby letters of credit and risk participations in standby letters of credit and bankers 2019 acceptances outstanding on december 31 , 2012 had terms ranging from less than 1 year to 7 years .', 'the aggregate maximum amount of future payments pnc could be required to make under outstanding standby letters of credit and risk participations in standby letters of credit and bankers 2019 acceptances was $ 14.7 billion at december 31 , 2012 , of which $ 7.5 billion support remarketing programs .', 'as of december 31 , 2012 , assets of $ 1.8 billion secured certain specifically identified standby letters of credit .', 'recourse provisions from third parties of $ 3.2 billion were also available for this purpose as of december 31 , 2012 .', 'in addition , a portion of the remaining standby letters of credit and letter of credit risk participations issued on behalf of specific customers is also secured by collateral or guarantees that secure the customers 2019 other obligations to us .', 'the carrying amount of the liability for our obligations related to standby letters of credit and risk participations in standby letters of credit and bankers 2019 acceptances was $ 247 million at december 31 , 2012 .', 'standby bond purchase agreements and other liquidity facilities we enter into standby bond purchase agreements to support municipal bond obligations .', 'at december 31 , 2012 , the aggregate of our commitments under these facilities was $ 587 million .', 'we also enter into certain other liquidity facilities to support individual pools of receivables acquired by commercial paper conduits .', 'at december 31 , 2012 , our total commitments under these facilities were $ 145 million .', 'indemnifications we are a party to numerous acquisition or divestiture agreements under which we have purchased or sold , or agreed to purchase or sell , various types of assets .', 'these agreements can cover the purchase or sale of : 2022 entire businesses , 2022 loan portfolios , 2022 branch banks , 2022 partial interests in companies , or 2022 other types of assets .', 'these agreements generally include indemnification provisions under which we indemnify the third parties to these agreements against a variety of risks to the indemnified parties as a result of the transaction in question .', 'when pnc is the seller , the indemnification provisions will generally also provide the buyer with protection relating to the quality of the assets we are selling and the extent of any liabilities being assumed by the buyer .', 'due to the nature of these indemnification provisions , we cannot quantify the total potential exposure to us resulting from them .', 'we provide indemnification in connection with securities offering transactions in which we are involved .', 'when we are the issuer of the securities , we provide indemnification to the underwriters or placement agents analogous to the indemnification provided to the purchasers of businesses from us , as described above .', 'when we are an underwriter or placement agent , we provide a limited indemnification to the issuer related to our actions in connection with the offering and , if there are other underwriters , indemnification to the other underwriters intended to result in an appropriate sharing of the risk of participating in the offering .', 'due to the nature of these indemnification provisions , we cannot quantify the total potential exposure to us resulting from them .', 'in the ordinary course of business , we enter into certain types of agreements that include provisions for indemnifying third parties .', 'we also enter into certain types of agreements , including leases , assignments of leases , and subleases , in which we agree to indemnify third parties for acts by our agents , assignees and/or sublessees , and employees .', 'we also enter into contracts for the delivery of technology service in which we indemnify the other party against claims of patent and copyright infringement by third parties .', 'due to the nature of these indemnification provisions , we cannot calculate our aggregate potential exposure under them .', 'in the ordinary course of business , we enter into contracts with third parties under which the third parties provide services on behalf of pnc .', 'in many of these contracts , we agree to indemnify the third party service provider under certain circumstances .', 'the terms of the indemnity vary from contract to contract and the amount of the indemnification liability , if any , cannot be determined .', 'we are a general or limited partner in certain asset management and investment limited partnerships , many of which contain indemnification provisions that would require us to make payments in excess of our remaining unfunded commitments .', 'while in certain of these partnerships the maximum liability to us is limited to the sum of our unfunded commitments and partnership distributions received by us , in the others the indemnification liability is unlimited .', 'as a result , we cannot determine our aggregate potential exposure for these indemnifications .', 'the pnc financial services group , inc .', '2013 form 10-k 227 .'] | 11.15 | PNC/2012/page_246.pdf-2 | ['table 153 : net outstanding standby letters of credit dollars in billions december 31 december 31 .'] | ['( a ) indicates that expected risk of loss is currently low .', '( b ) indicates a higher degree of risk of default .', 'if the customer fails to meet its financial or performance obligation to the third party under the terms of the contract or there is a need to support a remarketing program , then upon the request of the guaranteed party , subject to the terms of the letter of credit , we would be obligated to make payment to them .', 'the standby letters of credit and risk participations in standby letters of credit and bankers 2019 acceptances outstanding on december 31 , 2012 had terms ranging from less than 1 year to 7 years .', 'the aggregate maximum amount of future payments pnc could be required to make under outstanding standby letters of credit and risk participations in standby letters of credit and bankers 2019 acceptances was $ 14.7 billion at december 31 , 2012 , of which $ 7.5 billion support remarketing programs .', 'as of december 31 , 2012 , assets of $ 1.8 billion secured certain specifically identified standby letters of credit .', 'recourse provisions from third parties of $ 3.2 billion were also available for this purpose as of december 31 , 2012 .', 'in addition , a portion of the remaining standby letters of credit and letter of credit risk participations issued on behalf of specific customers is also secured by collateral or guarantees that secure the customers 2019 other obligations to us .', 'the carrying amount of the liability for our obligations related to standby letters of credit and risk participations in standby letters of credit and bankers 2019 acceptances was $ 247 million at december 31 , 2012 .', 'standby bond purchase agreements and other liquidity facilities we enter into standby bond purchase agreements to support municipal bond obligations .', 'at december 31 , 2012 , the aggregate of our commitments under these facilities was $ 587 million .', 'we also enter into certain other liquidity facilities to support individual pools of receivables acquired by commercial paper conduits .', 'at december 31 , 2012 , our total commitments under these facilities were $ 145 million .', 'indemnifications we are a party to numerous acquisition or divestiture agreements under which we have purchased or sold , or agreed to purchase or sell , various types of assets .', 'these agreements can cover the purchase or sale of : 2022 entire businesses , 2022 loan portfolios , 2022 branch banks , 2022 partial interests in companies , or 2022 other types of assets .', 'these agreements generally include indemnification provisions under which we indemnify the third parties to these agreements against a variety of risks to the indemnified parties as a result of the transaction in question .', 'when pnc is the seller , the indemnification provisions will generally also provide the buyer with protection relating to the quality of the assets we are selling and the extent of any liabilities being assumed by the buyer .', 'due to the nature of these indemnification provisions , we cannot quantify the total potential exposure to us resulting from them .', 'we provide indemnification in connection with securities offering transactions in which we are involved .', 'when we are the issuer of the securities , we provide indemnification to the underwriters or placement agents analogous to the indemnification provided to the purchasers of businesses from us , as described above .', 'when we are an underwriter or placement agent , we provide a limited indemnification to the issuer related to our actions in connection with the offering and , if there are other underwriters , indemnification to the other underwriters intended to result in an appropriate sharing of the risk of participating in the offering .', 'due to the nature of these indemnification provisions , we cannot quantify the total potential exposure to us resulting from them .', 'in the ordinary course of business , we enter into certain types of agreements that include provisions for indemnifying third parties .', 'we also enter into certain types of agreements , including leases , assignments of leases , and subleases , in which we agree to indemnify third parties for acts by our agents , assignees and/or sublessees , and employees .', 'we also enter into contracts for the delivery of technology service in which we indemnify the other party against claims of patent and copyright infringement by third parties .', 'due to the nature of these indemnification provisions , we cannot calculate our aggregate potential exposure under them .', 'in the ordinary course of business , we enter into contracts with third parties under which the third parties provide services on behalf of pnc .', 'in many of these contracts , we agree to indemnify the third party service provider under certain circumstances .', 'the terms of the indemnity vary from contract to contract and the amount of the indemnification liability , if any , cannot be determined .', 'we are a general or limited partner in certain asset management and investment limited partnerships , many of which contain indemnification provisions that would require us to make payments in excess of our remaining unfunded commitments .', 'while in certain of these partnerships the maximum liability to us is limited to the sum of our unfunded commitments and partnership distributions received by us , in the others the indemnification liability is unlimited .', 'as a result , we cannot determine our aggregate potential exposure for these indemnifications .', 'the pnc financial services group , inc .', '2013 form 10-k 227 .'] | ****************************************
dollars in billions december 31 2012 december 312011
net outstanding standby letters of credit $ 11.5 $ 10.8
internal credit ratings ( as a percentage of portfolio ) :
pass ( a ) 95% ( 95 % ) 94% ( 94 % )
below pass ( b ) 5% ( 5 % ) 6% ( 6 % )
**************************************** | add(11.5, 10.8), divide(#0, const_2) | 11.15 |
what percentage of total future minimum sponsorship and other payments are scheduled for 2019? | Pre-text: ['2016 , as well as significant sponsorship and other marketing agreements entered into during the period after december 31 , 2016 through the date of this report : ( in thousands ) .']
----
Tabular Data:
----------------------------------------
2017, $ 176138
2018, 166961
2019, 142987
2020, 124856
2021, 118168
2022 and thereafter, 626495
total future minimum sponsorship and other payments, $ 1355605
----------------------------------------
----
Follow-up: ['total future minimum sponsorship and other payments $ 1355605 the amounts listed above are the minimum compensation obligations and guaranteed royalty fees required to be paid under the company 2019s sponsorship and other marketing agreements .', 'the amounts listed above do not include additional performance incentives and product supply obligations provided under certain agreements .', 'it is not possible to determine how much the company will spend on product supply obligations on an annual basis as contracts generally do not stipulate specific cash amounts to be spent on products .', 'the amount of product provided to the sponsorships depends on many factors including general playing conditions , the number of sporting events in which they participate and the company 2019s decisions regarding product and marketing initiatives .', 'in addition , the costs to design , develop , source and purchase the products furnished to the endorsers are incurred over a period of time and are not necessarily tracked separately from similar costs incurred for products sold to customers .', 'in connection with various contracts and agreements , the company has agreed to indemnify counterparties against certain third party claims relating to the infringement of intellectual property rights and other items .', 'generally , such indemnification obligations do not apply in situations in which the counterparties are grossly negligent , engage in willful misconduct , or act in bad faith .', 'based on the company 2019s historical experience and the estimated probability of future loss , the company has determined that the fair value of such indemnifications is not material to its consolidated financial position or results of operations .', 'from time to time , the company is involved in litigation and other proceedings , including matters related to commercial and intellectual property disputes , as well as trade , regulatory and other claims related to its business .', 'other than as described below , the company believes that all current proceedings are routine in nature and incidental to the conduct of its business , and that the ultimate resolution of any such proceedings will not have a material adverse effect on its consolidated financial position , results of operations or cash flows .', 'on february 10 , 2017 , a shareholder filed a securities case in the united states district court for the district of maryland ( the 201ccourt 201d ) against the company , the company 2019s chief executive officer and the company 2019s former chief financial officer ( brian breece v .', 'under armour , inc. ) .', 'on february 16 , 2017 , a second shareholder filed a securities case in the court against the same defendants ( jodie hopkins v .', 'under armour , inc. ) .', 'the plaintiff in each case purports to represent a class of shareholders for the period between april 21 , 2016 and january 30 , 2017 , inclusive .', 'the complaints allege violations of section 10 ( b ) ( and rule 10b-5 ) of the securities exchange act of 1934 , as amended ( the 201cexchange act 201d ) and section 20 ( a ) control person liability under the exchange act against the officers named in the complaints .', 'in general , the allegations in each case concern disclosures and statements made by .'] | 0.10548 | UAA/2016/page_83.pdf-2 | ['2016 , as well as significant sponsorship and other marketing agreements entered into during the period after december 31 , 2016 through the date of this report : ( in thousands ) .'] | ['total future minimum sponsorship and other payments $ 1355605 the amounts listed above are the minimum compensation obligations and guaranteed royalty fees required to be paid under the company 2019s sponsorship and other marketing agreements .', 'the amounts listed above do not include additional performance incentives and product supply obligations provided under certain agreements .', 'it is not possible to determine how much the company will spend on product supply obligations on an annual basis as contracts generally do not stipulate specific cash amounts to be spent on products .', 'the amount of product provided to the sponsorships depends on many factors including general playing conditions , the number of sporting events in which they participate and the company 2019s decisions regarding product and marketing initiatives .', 'in addition , the costs to design , develop , source and purchase the products furnished to the endorsers are incurred over a period of time and are not necessarily tracked separately from similar costs incurred for products sold to customers .', 'in connection with various contracts and agreements , the company has agreed to indemnify counterparties against certain third party claims relating to the infringement of intellectual property rights and other items .', 'generally , such indemnification obligations do not apply in situations in which the counterparties are grossly negligent , engage in willful misconduct , or act in bad faith .', 'based on the company 2019s historical experience and the estimated probability of future loss , the company has determined that the fair value of such indemnifications is not material to its consolidated financial position or results of operations .', 'from time to time , the company is involved in litigation and other proceedings , including matters related to commercial and intellectual property disputes , as well as trade , regulatory and other claims related to its business .', 'other than as described below , the company believes that all current proceedings are routine in nature and incidental to the conduct of its business , and that the ultimate resolution of any such proceedings will not have a material adverse effect on its consolidated financial position , results of operations or cash flows .', 'on february 10 , 2017 , a shareholder filed a securities case in the united states district court for the district of maryland ( the 201ccourt 201d ) against the company , the company 2019s chief executive officer and the company 2019s former chief financial officer ( brian breece v .', 'under armour , inc. ) .', 'on february 16 , 2017 , a second shareholder filed a securities case in the court against the same defendants ( jodie hopkins v .', 'under armour , inc. ) .', 'the plaintiff in each case purports to represent a class of shareholders for the period between april 21 , 2016 and january 30 , 2017 , inclusive .', 'the complaints allege violations of section 10 ( b ) ( and rule 10b-5 ) of the securities exchange act of 1934 , as amended ( the 201cexchange act 201d ) and section 20 ( a ) control person liability under the exchange act against the officers named in the complaints .', 'in general , the allegations in each case concern disclosures and statements made by .'] | ----------------------------------------
2017, $ 176138
2018, 166961
2019, 142987
2020, 124856
2021, 118168
2022 and thereafter, 626495
total future minimum sponsorship and other payments, $ 1355605
---------------------------------------- | divide(142987, 1355605) | 0.10548 |
for 2013 , did a .5% ( .5 % ) decrease in discount rate have a greater effect than a .5% ( .5 % ) decrease in expected long-term return on assets? | Pre-text: ['securities have historically returned approximately 10% ( 10 % ) annually over long periods of time , while u.s .', 'debt securities have returned approximately 6% ( 6 % ) annually over long periods .', 'application of these historical returns to the plan 2019s allocation ranges for equities and bonds produces a result between 7.25% ( 7.25 % ) and 8.75% ( 8.75 % ) and is one point of reference , among many other factors , that is taken into consideration .', 'we also examine the plan 2019s actual historical returns over various periods and consider the current economic environment .', 'recent experience is considered in our evaluation with appropriate consideration that , especially for short time periods , recent returns are not reliable indicators of future returns .', 'while annual returns can vary significantly ( actual returns for 2012 , 2011 , and 2010 were +15.29% ( +15.29 % ) , +.11% ( +.11 % ) , and +14.87% ( +14.87 % ) , respectively ) , the selected assumption represents our estimated long-term average prospective returns .', 'acknowledging the potentially wide range for this assumption , we also annually examine the assumption used by other companies with similar pension investment strategies , so that we can ascertain whether our determinations markedly differ from others .', 'in all cases , however , this data simply informs our process , which places the greatest emphasis on our qualitative judgment of future investment returns , given the conditions existing at each annual measurement date .', 'taking into consideration all of these factors , the expected long-term return on plan assets for determining net periodic pension cost for 2012 was 7.75% ( 7.75 % ) , the same as it was for 2011 .', 'after considering the views of both internal and external capital market advisors , particularly with regard to the effects of the recent economic environment on long-term prospective fixed income returns , we are reducing our expected long-term return on assets to 7.50% ( 7.50 % ) for determining pension cost for under current accounting rules , the difference between expected long-term returns and actual returns is accumulated and amortized to pension expense over future periods .', 'each one percentage point difference in actual return compared with our expected return causes expense in subsequent years to increase or decrease by up to $ 8 million as the impact is amortized into results of operations .', 'we currently estimate a pretax pension expense of $ 73 million in 2013 compared with pretax expense of $ 89 million in 2012 .', 'this year-over-year expected decrease reflects the impact of favorable returns on plan assets experienced in 2012 as well as the effects of the lower discount rate required to be used in the table below reflects the estimated effects on pension expense of certain changes in annual assumptions , using 2013 estimated expense as a baseline .', 'table 27 : pension expense - sensitivity analysis change in assumption ( a ) estimated increase to 2013 pension expense ( in millions ) .']
--
Table:
****************************************
change in assumption ( a ) estimatedincrease to 2013pensionexpense ( in millions )
.5% ( .5 % ) decrease in discount rate $ 21
.5% ( .5 % ) decrease in expected long-term return on assets $ 19
.5% ( .5 % ) increase in compensation rate $ 2
****************************************
--
Post-table: ['( a ) the impact is the effect of changing the specified assumption while holding all other assumptions constant .', 'our pension plan contribution requirements are not particularly sensitive to actuarial assumptions .', 'investment performance has the most impact on contribution requirements and will drive the amount of required contributions in future years .', 'also , current law , including the provisions of the pension protection act of 2006 , sets limits as to both minimum and maximum contributions to the plan .', 'we do not expect to be required by law to make any contributions to the plan during 2013 .', 'we maintain other defined benefit plans that have a less significant effect on financial results , including various nonqualified supplemental retirement plans for certain employees , which are described more fully in note 15 employee benefit plans in the notes to consolidated financial statements in item 8 of this report .', 'the pnc financial services group , inc .', '2013 form 10-k 77 .'] | yes | PNC/2012/page_96.pdf-2 | ['securities have historically returned approximately 10% ( 10 % ) annually over long periods of time , while u.s .', 'debt securities have returned approximately 6% ( 6 % ) annually over long periods .', 'application of these historical returns to the plan 2019s allocation ranges for equities and bonds produces a result between 7.25% ( 7.25 % ) and 8.75% ( 8.75 % ) and is one point of reference , among many other factors , that is taken into consideration .', 'we also examine the plan 2019s actual historical returns over various periods and consider the current economic environment .', 'recent experience is considered in our evaluation with appropriate consideration that , especially for short time periods , recent returns are not reliable indicators of future returns .', 'while annual returns can vary significantly ( actual returns for 2012 , 2011 , and 2010 were +15.29% ( +15.29 % ) , +.11% ( +.11 % ) , and +14.87% ( +14.87 % ) , respectively ) , the selected assumption represents our estimated long-term average prospective returns .', 'acknowledging the potentially wide range for this assumption , we also annually examine the assumption used by other companies with similar pension investment strategies , so that we can ascertain whether our determinations markedly differ from others .', 'in all cases , however , this data simply informs our process , which places the greatest emphasis on our qualitative judgment of future investment returns , given the conditions existing at each annual measurement date .', 'taking into consideration all of these factors , the expected long-term return on plan assets for determining net periodic pension cost for 2012 was 7.75% ( 7.75 % ) , the same as it was for 2011 .', 'after considering the views of both internal and external capital market advisors , particularly with regard to the effects of the recent economic environment on long-term prospective fixed income returns , we are reducing our expected long-term return on assets to 7.50% ( 7.50 % ) for determining pension cost for under current accounting rules , the difference between expected long-term returns and actual returns is accumulated and amortized to pension expense over future periods .', 'each one percentage point difference in actual return compared with our expected return causes expense in subsequent years to increase or decrease by up to $ 8 million as the impact is amortized into results of operations .', 'we currently estimate a pretax pension expense of $ 73 million in 2013 compared with pretax expense of $ 89 million in 2012 .', 'this year-over-year expected decrease reflects the impact of favorable returns on plan assets experienced in 2012 as well as the effects of the lower discount rate required to be used in the table below reflects the estimated effects on pension expense of certain changes in annual assumptions , using 2013 estimated expense as a baseline .', 'table 27 : pension expense - sensitivity analysis change in assumption ( a ) estimated increase to 2013 pension expense ( in millions ) .'] | ['( a ) the impact is the effect of changing the specified assumption while holding all other assumptions constant .', 'our pension plan contribution requirements are not particularly sensitive to actuarial assumptions .', 'investment performance has the most impact on contribution requirements and will drive the amount of required contributions in future years .', 'also , current law , including the provisions of the pension protection act of 2006 , sets limits as to both minimum and maximum contributions to the plan .', 'we do not expect to be required by law to make any contributions to the plan during 2013 .', 'we maintain other defined benefit plans that have a less significant effect on financial results , including various nonqualified supplemental retirement plans for certain employees , which are described more fully in note 15 employee benefit plans in the notes to consolidated financial statements in item 8 of this report .', 'the pnc financial services group , inc .', '2013 form 10-k 77 .'] | ****************************************
change in assumption ( a ) estimatedincrease to 2013pensionexpense ( in millions )
.5% ( .5 % ) decrease in discount rate $ 21
.5% ( .5 % ) decrease in expected long-term return on assets $ 19
.5% ( .5 % ) increase in compensation rate $ 2
**************************************** | greater(21, 19) | yes |
in 2003 what was the percent of the total noninterest expense that was related to compensation | Pre-text: ['management 2019s discussion and analysis j.p .', 'morgan chase & co .', '26 j.p .', 'morgan chase & co .', '/ 2003 annual report $ 41.7 billion .', 'nii was reduced by a lower volume of commercial loans and lower spreads on investment securities .', 'as a compo- nent of nii , trading-related net interest income of $ 2.1 billion was up 13% ( 13 % ) from 2002 due to a change in the composition of , and growth in , trading assets .', 'the firm 2019s total average interest-earning assets in 2003 were $ 590 billion , up 6% ( 6 % ) from the prior year .', 'the net interest yield on these assets , on a fully taxable-equivalent basis , was 2.10% ( 2.10 % ) , compared with 2.09% ( 2.09 % ) in the prior year .', 'noninterest expense year ended december 31 .']
Tabular Data:
( in millions ) | 2003 | 2002 | change
compensation expense | $ 11695 | $ 10983 | 6% ( 6 % )
occupancy expense | 1912 | 1606 | 19
technology and communications expense | 2844 | 2554 | 11
other expense | 5137 | 5111 | 1
surety settlement and litigation reserve | 100 | 1300 | -92 ( 92 )
merger and restructuring costs | 2014 | 1210 | nm
total noninterest expense | $ 21688 | $ 22764 | ( 5 ) % ( % )
Additional Information: ['technology and communications expense in 2003 , technology and communications expense was 11% ( 11 % ) above the prior-year level .', 'the increase was primarily due to a shift in expenses : costs that were previously associated with compensation and other expenses shifted , upon the commence- ment of the ibm outsourcing agreement , to technology and communications expense .', 'also contributing to the increase were higher costs related to software amortization .', 'for a further dis- cussion of the ibm outsourcing agreement , see support units and corporate on page 44 of this annual report .', 'other expense other expense in 2003 rose slightly from the prior year , reflecting higher outside services .', 'for a table showing the components of other expense , see note 8 on page 96 of this annual report .', 'surety settlement and litigation reserve the firm added $ 100 million to the enron-related litigation reserve in 2003 to supplement a $ 900 million reserve initially recorded in 2002 .', 'the 2002 reserve was established to cover enron-related matters , as well as certain other material litigation , proceedings and investigations in which the firm is involved .', 'in addition , in 2002 the firm recorded a charge of $ 400 million for the settlement of enron-related surety litigation .', 'merger and restructuring costs merger and restructuring costs related to business restructurings announced after january 1 , 2002 , were recorded in their relevant expense categories .', 'in 2002 , merger and restructuring costs of $ 1.2 billion , for programs announced prior to january 1 , 2002 , were viewed by management as nonoperating expenses or 201cspecial items . 201d refer to note 8 on pages 95 201396 of this annual report for a further discussion of merger and restructuring costs and for a summary , by expense category and business segment , of costs incurred in 2003 and 2002 for programs announced after january 1 , 2002 .', 'provision for credit losses the 2003 provision for credit losses was $ 2.8 billion lower than in 2002 , primarily reflecting continued improvement in the quality of the commercial loan portfolio and a higher volume of credit card securitizations .', 'for further information about the provision for credit losses and the firm 2019s management of credit risk , see the dis- cussions of net charge-offs associated with the commercial and consumer loan portfolios and the allowance for credit losses , on pages 63 201365 of this annual report .', 'income tax expense income tax expense was $ 3.3 billion in 2003 , compared with $ 856 million in 2002 .', 'the effective tax rate in 2003 was 33% ( 33 % ) , compared with 34% ( 34 % ) in 2002 .', 'the tax rate decline was principally attributable to changes in the proportion of income subject to state and local taxes .', 'compensation expense compensation expense in 2003 was 6% ( 6 % ) higher than in the prior year .', 'the increase principally reflected higher performance-related incentives , and higher pension and other postretirement benefit costs , primarily as a result of changes in actuarial assumptions .', 'for a detailed discussion of pension and other postretirement benefit costs , see note 6 on pages 89 201393 of this annual report .', 'the increase pertaining to incentives included $ 266 million as a result of adopting sfas 123 , and $ 120 million from the reversal in 2002 of previously accrued expenses for certain forfeitable key employ- ee stock awards , as discussed in note 7 on pages 93 201395 of this annual report .', 'total compensation expense declined as a result of the transfer , beginning april 1 , 2003 , of 2800 employees to ibm in connection with a technology outsourcing agreement .', 'the total number of full-time equivalent employees at december 31 , 2003 was 93453 compared with 94335 at the prior year-end .', 'occupancy expense occupancy expense of $ 1.9 billion rose 19% ( 19 % ) from 2002 .', 'the increase reflected costs of additional leased space in midtown manhattan and in the south and southwest regions of the united states ; higher real estate taxes in new york city ; and the cost of enhanced safety measures .', 'also contributing to the increase were charges for unoccupied excess real estate of $ 270 million ; this compared with $ 120 million in 2002 , mostly in the third quarter of that year. .'] | 0.53924 | JPM/2003/page_28.pdf-4 | ['management 2019s discussion and analysis j.p .', 'morgan chase & co .', '26 j.p .', 'morgan chase & co .', '/ 2003 annual report $ 41.7 billion .', 'nii was reduced by a lower volume of commercial loans and lower spreads on investment securities .', 'as a compo- nent of nii , trading-related net interest income of $ 2.1 billion was up 13% ( 13 % ) from 2002 due to a change in the composition of , and growth in , trading assets .', 'the firm 2019s total average interest-earning assets in 2003 were $ 590 billion , up 6% ( 6 % ) from the prior year .', 'the net interest yield on these assets , on a fully taxable-equivalent basis , was 2.10% ( 2.10 % ) , compared with 2.09% ( 2.09 % ) in the prior year .', 'noninterest expense year ended december 31 .'] | ['technology and communications expense in 2003 , technology and communications expense was 11% ( 11 % ) above the prior-year level .', 'the increase was primarily due to a shift in expenses : costs that were previously associated with compensation and other expenses shifted , upon the commence- ment of the ibm outsourcing agreement , to technology and communications expense .', 'also contributing to the increase were higher costs related to software amortization .', 'for a further dis- cussion of the ibm outsourcing agreement , see support units and corporate on page 44 of this annual report .', 'other expense other expense in 2003 rose slightly from the prior year , reflecting higher outside services .', 'for a table showing the components of other expense , see note 8 on page 96 of this annual report .', 'surety settlement and litigation reserve the firm added $ 100 million to the enron-related litigation reserve in 2003 to supplement a $ 900 million reserve initially recorded in 2002 .', 'the 2002 reserve was established to cover enron-related matters , as well as certain other material litigation , proceedings and investigations in which the firm is involved .', 'in addition , in 2002 the firm recorded a charge of $ 400 million for the settlement of enron-related surety litigation .', 'merger and restructuring costs merger and restructuring costs related to business restructurings announced after january 1 , 2002 , were recorded in their relevant expense categories .', 'in 2002 , merger and restructuring costs of $ 1.2 billion , for programs announced prior to january 1 , 2002 , were viewed by management as nonoperating expenses or 201cspecial items . 201d refer to note 8 on pages 95 201396 of this annual report for a further discussion of merger and restructuring costs and for a summary , by expense category and business segment , of costs incurred in 2003 and 2002 for programs announced after january 1 , 2002 .', 'provision for credit losses the 2003 provision for credit losses was $ 2.8 billion lower than in 2002 , primarily reflecting continued improvement in the quality of the commercial loan portfolio and a higher volume of credit card securitizations .', 'for further information about the provision for credit losses and the firm 2019s management of credit risk , see the dis- cussions of net charge-offs associated with the commercial and consumer loan portfolios and the allowance for credit losses , on pages 63 201365 of this annual report .', 'income tax expense income tax expense was $ 3.3 billion in 2003 , compared with $ 856 million in 2002 .', 'the effective tax rate in 2003 was 33% ( 33 % ) , compared with 34% ( 34 % ) in 2002 .', 'the tax rate decline was principally attributable to changes in the proportion of income subject to state and local taxes .', 'compensation expense compensation expense in 2003 was 6% ( 6 % ) higher than in the prior year .', 'the increase principally reflected higher performance-related incentives , and higher pension and other postretirement benefit costs , primarily as a result of changes in actuarial assumptions .', 'for a detailed discussion of pension and other postretirement benefit costs , see note 6 on pages 89 201393 of this annual report .', 'the increase pertaining to incentives included $ 266 million as a result of adopting sfas 123 , and $ 120 million from the reversal in 2002 of previously accrued expenses for certain forfeitable key employ- ee stock awards , as discussed in note 7 on pages 93 201395 of this annual report .', 'total compensation expense declined as a result of the transfer , beginning april 1 , 2003 , of 2800 employees to ibm in connection with a technology outsourcing agreement .', 'the total number of full-time equivalent employees at december 31 , 2003 was 93453 compared with 94335 at the prior year-end .', 'occupancy expense occupancy expense of $ 1.9 billion rose 19% ( 19 % ) from 2002 .', 'the increase reflected costs of additional leased space in midtown manhattan and in the south and southwest regions of the united states ; higher real estate taxes in new york city ; and the cost of enhanced safety measures .', 'also contributing to the increase were charges for unoccupied excess real estate of $ 270 million ; this compared with $ 120 million in 2002 , mostly in the third quarter of that year. .'] | ( in millions ) | 2003 | 2002 | change
compensation expense | $ 11695 | $ 10983 | 6% ( 6 % )
occupancy expense | 1912 | 1606 | 19
technology and communications expense | 2844 | 2554 | 11
other expense | 5137 | 5111 | 1
surety settlement and litigation reserve | 100 | 1300 | -92 ( 92 )
merger and restructuring costs | 2014 | 1210 | nm
total noninterest expense | $ 21688 | $ 22764 | ( 5 ) % ( % ) | divide(11695, 21688) | 0.53924 |
what is the five year performance of ups class b common stock? | Pre-text: ['shareowner return performance graph the following performance graph and related information shall not be deemed 201csoliciting material 201d or to be 201cfiled 201d with the sec , nor shall such information be incorporated by reference into any future filing under the securities act of 1933 or securities exchange act of 1934 , each as amended , except to the extent that the company specifically incorporates such information by reference into such filing .', 'the following graph shows a five year comparison of cumulative total shareowners 2019 returns for our class b common stock , the standard & poor 2019s 500 index , and the dow jones transportation average .', 'the comparison of the total cumulative return on investment , which is the change in the quarterly stock price plus reinvested dividends for each of the quarterly periods , assumes that $ 100 was invested on december 31 , 2010 in the standard & poor 2019s 500 index , the dow jones transportation average , and our class b common stock. .']
##########
Table:
----------------------------------------
| 12/31/2010 | 12/31/2011 | 12/31/2012 | 12/31/2013 | 12/31/2014 | 12/31/2015
united parcel service inc . | $ 100.00 | $ 103.88 | $ 107.87 | $ 158.07 | $ 171.77 | $ 160.61
standard & poor 2019s 500 index | $ 100.00 | $ 102.11 | $ 118.43 | $ 156.77 | $ 178.22 | $ 180.67
dow jones transportation average | $ 100.00 | $ 100.01 | $ 107.49 | $ 151.97 | $ 190.08 | $ 158.23
----------------------------------------
##########
Post-table: ['.'] | 0.6061 | UPS/2015/page_35.pdf-1 | ['shareowner return performance graph the following performance graph and related information shall not be deemed 201csoliciting material 201d or to be 201cfiled 201d with the sec , nor shall such information be incorporated by reference into any future filing under the securities act of 1933 or securities exchange act of 1934 , each as amended , except to the extent that the company specifically incorporates such information by reference into such filing .', 'the following graph shows a five year comparison of cumulative total shareowners 2019 returns for our class b common stock , the standard & poor 2019s 500 index , and the dow jones transportation average .', 'the comparison of the total cumulative return on investment , which is the change in the quarterly stock price plus reinvested dividends for each of the quarterly periods , assumes that $ 100 was invested on december 31 , 2010 in the standard & poor 2019s 500 index , the dow jones transportation average , and our class b common stock. .'] | ['.'] | ----------------------------------------
| 12/31/2010 | 12/31/2011 | 12/31/2012 | 12/31/2013 | 12/31/2014 | 12/31/2015
united parcel service inc . | $ 100.00 | $ 103.88 | $ 107.87 | $ 158.07 | $ 171.77 | $ 160.61
standard & poor 2019s 500 index | $ 100.00 | $ 102.11 | $ 118.43 | $ 156.77 | $ 178.22 | $ 180.67
dow jones transportation average | $ 100.00 | $ 100.01 | $ 107.49 | $ 151.97 | $ 190.08 | $ 158.23
---------------------------------------- | subtract(160.61, const_100), divide(#0, const_100) | 0.6061 |
of the total purchase consideration , what portion is allocated for visa inc . common stock? | Background: ['visa inc .', 'notes to consolidated financial statements 2014 ( continued ) september 30 , 2009 ( in millions , except as noted ) note 2 2014the reorganization description of the reorganization and purchase consideration in a series of transactions from october 1 to october 3 , 2007 , visa undertook a reorganization in which visa u.s.a. , visa international , visa canada and inovant became direct or indirect subsidiaries of visa inc .', 'and the retrospective responsibility plan was established .', 'see note 4 2014retrospective responsibility plan .', 'for accounting purposes , the company reflected the reorganization as a single transaction occurring on october 1 ( the 201creorganization date 201d ) , using the purchase method of accounting with visa u.s.a .', 'as the accounting acquirer .', 'the net assets underlying the acquired interests in visa international , visa canada , and inovant ( the 201cacquired interests 201d ) were recorded at fair value at the reorganization date with the excess purchase price over this value attributed to goodwill .', 'visa europe did not become a subsidiary of visa inc. , but rather remained owned and governed by its european member financial institutions and entered into a set of contractual arrangements with the company in connection with the reorganization .', 'the company issued different classes and series of common stock in the reorganization reflecting the different rights and obligations of the visa financial institution members and visa europe .', 'the allocation of the company 2019s common stock to each of visa ap , visa lac , visa cemea , visa canada ( collectively the 201cacquired regions 201d ) and visa u.s.a .', '( collectively 201cthe participating regions 201d ) was based on each entity 2019s expected relative contribution to the company 2019s projected fiscal 2008 net income , after giving effect to negotiated adjustments .', 'this allocation was adjusted shortly prior to the ipo ( the 201ctrue- up 201d ) to reflect actual performance in the four quarters ended december 31 , 2007 .', 'the allocation of the company 2019s common stock and other consideration conveyed to visa europe in exchange for its ownership interest in visa international and inovant was determined based on the fair value of each element exchanged in the reorganization as discussed below and in note 3 2014visa europe .', 'total shares authorized and issued to the financial institution member groups of the participating regions and to visa europe in the reorganization totaled 775080512 shares of class b and class c common stock .', 'total purchase consideration , inclusive of the true-up , of approximately $ 18.4 billion comprised of the following: .']
--
Tabular Data:
----------------------------------------
• , in millions
• visa inc . common stock, $ 17935
• visa europe put option, 346
• liability under framework agreement, 132
• total purchase consideration, $ 18413
----------------------------------------
--
Post-table: ['visa inc .', 'common stock issued in exchange for the acquired interests the value of the purchase consideration conveyed to each of the member groups of the acquired regions was determined by valuing the underlying businesses contributed by each , after giving effect to negotiated adjustments .', 'the fair value of the purchase consideration , consisting of 258022779 shares of class c ( series i ) common stock , was approximately $ 12.6 billion , measured at june 15 , 2007 , or the date on which all parties entered into the global restructuring agreement .', 'additional purchase consideration of $ 1.2 billion , consisting of 26138056 incremental shares of class c common stock valued at $ 44 per share were issued to the acquired regions shortly before the ipo in connection with the true-up .', 'the fair value of these shares was determined based on the price per share in the ipo. .'] | 0.97404 | V/2009/page_88.pdf-1 | ['visa inc .', 'notes to consolidated financial statements 2014 ( continued ) september 30 , 2009 ( in millions , except as noted ) note 2 2014the reorganization description of the reorganization and purchase consideration in a series of transactions from october 1 to october 3 , 2007 , visa undertook a reorganization in which visa u.s.a. , visa international , visa canada and inovant became direct or indirect subsidiaries of visa inc .', 'and the retrospective responsibility plan was established .', 'see note 4 2014retrospective responsibility plan .', 'for accounting purposes , the company reflected the reorganization as a single transaction occurring on october 1 ( the 201creorganization date 201d ) , using the purchase method of accounting with visa u.s.a .', 'as the accounting acquirer .', 'the net assets underlying the acquired interests in visa international , visa canada , and inovant ( the 201cacquired interests 201d ) were recorded at fair value at the reorganization date with the excess purchase price over this value attributed to goodwill .', 'visa europe did not become a subsidiary of visa inc. , but rather remained owned and governed by its european member financial institutions and entered into a set of contractual arrangements with the company in connection with the reorganization .', 'the company issued different classes and series of common stock in the reorganization reflecting the different rights and obligations of the visa financial institution members and visa europe .', 'the allocation of the company 2019s common stock to each of visa ap , visa lac , visa cemea , visa canada ( collectively the 201cacquired regions 201d ) and visa u.s.a .', '( collectively 201cthe participating regions 201d ) was based on each entity 2019s expected relative contribution to the company 2019s projected fiscal 2008 net income , after giving effect to negotiated adjustments .', 'this allocation was adjusted shortly prior to the ipo ( the 201ctrue- up 201d ) to reflect actual performance in the four quarters ended december 31 , 2007 .', 'the allocation of the company 2019s common stock and other consideration conveyed to visa europe in exchange for its ownership interest in visa international and inovant was determined based on the fair value of each element exchanged in the reorganization as discussed below and in note 3 2014visa europe .', 'total shares authorized and issued to the financial institution member groups of the participating regions and to visa europe in the reorganization totaled 775080512 shares of class b and class c common stock .', 'total purchase consideration , inclusive of the true-up , of approximately $ 18.4 billion comprised of the following: .'] | ['visa inc .', 'common stock issued in exchange for the acquired interests the value of the purchase consideration conveyed to each of the member groups of the acquired regions was determined by valuing the underlying businesses contributed by each , after giving effect to negotiated adjustments .', 'the fair value of the purchase consideration , consisting of 258022779 shares of class c ( series i ) common stock , was approximately $ 12.6 billion , measured at june 15 , 2007 , or the date on which all parties entered into the global restructuring agreement .', 'additional purchase consideration of $ 1.2 billion , consisting of 26138056 incremental shares of class c common stock valued at $ 44 per share were issued to the acquired regions shortly before the ipo in connection with the true-up .', 'the fair value of these shares was determined based on the price per share in the ipo. .'] | ----------------------------------------
• , in millions
• visa inc . common stock, $ 17935
• visa europe put option, 346
• liability under framework agreement, 132
• total purchase consideration, $ 18413
---------------------------------------- | divide(17935, 18413) | 0.97404 |
in millions , what was the average net change in discounted future cash flows for the three year period? | Pre-text: ['supplementary information on oil and gas producing activities ( unaudited ) changes in the standardized measure of discounted future net cash flows .']
########
Table:
----------------------------------------
( in millions ), 2009, 2008, 2007
sales and transfers of oil and gas produced net of production andadministrative costs, $ -4876 ( 4876 ), $ -6863 ( 6863 ), $ -4613 ( 4613 )
net changes in prices and production and administrative costs related tofuture production, 4840, -18683 ( 18683 ), 12344
extensions discoveries and improved recovery less related costs, 1399, 663, 1816
development costs incurred during the period, 2786, 1774, 1569
changes in estimated future development costs, -3641 ( 3641 ), -1436 ( 1436 ), -1706 ( 1706 )
revisions of previous quantity estimates, 5110, 85, 166
net changes in purchases and sales of minerals in place, -159 ( 159 ), -13 ( 13 ), 23
accretion of discount, 787, 2724, 1696
net change in income taxes, -4441 ( 4441 ), 12633, -6647 ( 6647 )
timing and other, -149 ( 149 ), 184, -31 ( 31 )
net change for the year, 1656, -8932 ( 8932 ), 4617
beginning of the year, 4035, 12967, 8350
end of year, $ 5691, $ 4035, $ 12967
net change for the year from discontinued operations, $ -, $ 284, $ 528
----------------------------------------
########
Additional Information: ['.'] | -886.33333 | MRO/2009/page_149.pdf-1 | ['supplementary information on oil and gas producing activities ( unaudited ) changes in the standardized measure of discounted future net cash flows .'] | ['.'] | ----------------------------------------
( in millions ), 2009, 2008, 2007
sales and transfers of oil and gas produced net of production andadministrative costs, $ -4876 ( 4876 ), $ -6863 ( 6863 ), $ -4613 ( 4613 )
net changes in prices and production and administrative costs related tofuture production, 4840, -18683 ( 18683 ), 12344
extensions discoveries and improved recovery less related costs, 1399, 663, 1816
development costs incurred during the period, 2786, 1774, 1569
changes in estimated future development costs, -3641 ( 3641 ), -1436 ( 1436 ), -1706 ( 1706 )
revisions of previous quantity estimates, 5110, 85, 166
net changes in purchases and sales of minerals in place, -159 ( 159 ), -13 ( 13 ), 23
accretion of discount, 787, 2724, 1696
net change in income taxes, -4441 ( 4441 ), 12633, -6647 ( 6647 )
timing and other, -149 ( 149 ), 184, -31 ( 31 )
net change for the year, 1656, -8932 ( 8932 ), 4617
beginning of the year, 4035, 12967, 8350
end of year, $ 5691, $ 4035, $ 12967
net change for the year from discontinued operations, $ -, $ 284, $ 528
---------------------------------------- | table_average(net change for the year, none) | -886.33333 |
during 2006 what was the initial debt balance prior to the issuance of additional international paper debt securities for cash | 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 .']
Tabular Data:
----------------------------------------
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
----------------------------------------
Additional Information: ['( 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. .'] | 0.4 | IP/2007/page_38.pdf-4 | ['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
---------------------------------------- | subtract(5.2, 4.8) | 0.4 |
what is the ratio of the professional fees to the other fees | Context: ['table of contents notes to consolidated financial statements of american airlines , inc .', 'certificate of incorporation ( the certificate of incorporation ) contains transfer restrictions applicable to certain substantial stockholders .', 'although the purpose of these transfer restrictions is to prevent an ownership change from occurring , there can be no assurance that an ownership change will not occur even with these transfer restrictions .', 'a copy of the certificate of incorporation was attached as exhibit 3.1 to a current report on form 8-k filed by aag with the sec on december 9 , 2013 .', 'reorganization items , net reorganization items refer to revenues , expenses ( including professional fees ) , realized gains and losses and provisions for losses that are realized or incurred in the chapter 11 cases .', 'the following table summarizes the components included in reorganization items , net on the consolidated statement of operations for the year ended december 31 , 2013 ( in millions ) : december 31 .']
Tabular Data:
****************************************
• , december 31 2013
• labor-related deemed claim ( 1 ), $ 1733
• aircraft and facility financing renegotiations and rejections ( 2 ) ( 3 ), 320
• fair value of conversion discount ( 4 ), 218
• professional fees, 199
• other, 170
• total reorganization items net, $ 2640
****************************************
Post-table: ['( 1 ) in exchange for employees 2019 contributions to the successful reorganization , including agreeing to reductions in pay and benefits , american agreed in the plan to provide each employee group a deemed claim , which was used to provide a distribution of a portion of the equity of the reorganized entity to those employees .', 'each employee group received a deemed claim amount based upon a portion of the value of cost savings provided by that group through reductions to pay and benefits as well as through certain work rule changes .', 'the total value of this deemed claim was approximately $ 1.7 billion .', '( 2 ) amounts include allowed claims ( claims approved by the bankruptcy court ) and estimated allowed claims relating to ( i ) the rejection or modification of financings related to aircraft and ( ii ) entry of orders treated as unsecured claims with respect to facility agreements supporting certain issuances of special facility revenue bonds .', 'the debtors recorded an estimated claim associated with the rejection or modification of a financing or facility agreement when the applicable motion was filed with the bankruptcy court to reject or modify such financing or facility agreement and the debtors believed that it was probable the motion would be approved , and there was sufficient information to estimate the claim .', '( 3 ) pursuant to the plan , the debtors agreed to allow certain post-petition unsecured claims on obligations .', 'as a result , during the year ended december 31 , 2013 , american recorded reorganization charges to adjust estimated allowed claim amounts previously recorded on rejected special facility revenue bonds of $ 180 million , allowed general unsecured claims related to the 1990 and 1994 series of special facility revenue bonds that financed certain improvements at john f .', 'kennedy international airport ( jfk ) , and rejected bonds that financed certain improvements at chicago o 2019hare international airport ( ord ) , which are included in the table above .', '( 4 ) the plan allowed unsecured creditors receiving aag series a preferred stock a conversion discount of 3.5% ( 3.5 % ) .', 'accordingly , american recorded the fair value of such discount upon the confirmation of the plan by the bankruptcy court. .'] | 11.70588 | AAL/2015/page_183.pdf-4 | ['table of contents notes to consolidated financial statements of american airlines , inc .', 'certificate of incorporation ( the certificate of incorporation ) contains transfer restrictions applicable to certain substantial stockholders .', 'although the purpose of these transfer restrictions is to prevent an ownership change from occurring , there can be no assurance that an ownership change will not occur even with these transfer restrictions .', 'a copy of the certificate of incorporation was attached as exhibit 3.1 to a current report on form 8-k filed by aag with the sec on december 9 , 2013 .', 'reorganization items , net reorganization items refer to revenues , expenses ( including professional fees ) , realized gains and losses and provisions for losses that are realized or incurred in the chapter 11 cases .', 'the following table summarizes the components included in reorganization items , net on the consolidated statement of operations for the year ended december 31 , 2013 ( in millions ) : december 31 .'] | ['( 1 ) in exchange for employees 2019 contributions to the successful reorganization , including agreeing to reductions in pay and benefits , american agreed in the plan to provide each employee group a deemed claim , which was used to provide a distribution of a portion of the equity of the reorganized entity to those employees .', 'each employee group received a deemed claim amount based upon a portion of the value of cost savings provided by that group through reductions to pay and benefits as well as through certain work rule changes .', 'the total value of this deemed claim was approximately $ 1.7 billion .', '( 2 ) amounts include allowed claims ( claims approved by the bankruptcy court ) and estimated allowed claims relating to ( i ) the rejection or modification of financings related to aircraft and ( ii ) entry of orders treated as unsecured claims with respect to facility agreements supporting certain issuances of special facility revenue bonds .', 'the debtors recorded an estimated claim associated with the rejection or modification of a financing or facility agreement when the applicable motion was filed with the bankruptcy court to reject or modify such financing or facility agreement and the debtors believed that it was probable the motion would be approved , and there was sufficient information to estimate the claim .', '( 3 ) pursuant to the plan , the debtors agreed to allow certain post-petition unsecured claims on obligations .', 'as a result , during the year ended december 31 , 2013 , american recorded reorganization charges to adjust estimated allowed claim amounts previously recorded on rejected special facility revenue bonds of $ 180 million , allowed general unsecured claims related to the 1990 and 1994 series of special facility revenue bonds that financed certain improvements at john f .', 'kennedy international airport ( jfk ) , and rejected bonds that financed certain improvements at chicago o 2019hare international airport ( ord ) , which are included in the table above .', '( 4 ) the plan allowed unsecured creditors receiving aag series a preferred stock a conversion discount of 3.5% ( 3.5 % ) .', 'accordingly , american recorded the fair value of such discount upon the confirmation of the plan by the bankruptcy court. .'] | ****************************************
• , december 31 2013
• labor-related deemed claim ( 1 ), $ 1733
• aircraft and facility financing renegotiations and rejections ( 2 ) ( 3 ), 320
• fair value of conversion discount ( 4 ), 218
• professional fees, 199
• other, 170
• total reorganization items net, $ 2640
**************************************** | divide(1990, 170) | 11.70588 |
what is the growth rate in research and development expenses from 2013 to 2014? | Pre-text: ['fortron industries llc .', 'fortron is a leading global producer of pps , sold under the fortron ae brand , which is used in a wide variety of automotive and other applications , especially those requiring heat and/or chemical resistance .', "fortron's facility is located in wilmington , north carolina .", 'this venture combines the sales , marketing , distribution , compounding and manufacturing expertise of celanese with the pps polymer technology expertise of kureha america inc .', 'cellulose derivatives strategic ventures .', "our cellulose derivatives ventures generally fund their operations using operating cash flow and pay dividends based on each ventures' performance in the preceding year .", 'in 2014 , 2013 and 2012 , we received cash dividends of $ 115 million , $ 92 million and $ 83 million , respectively .', 'although our ownership interest in each of our cellulose derivatives ventures exceeds 20% ( 20 % ) , we account for these investments using the cost method of accounting because we determined that we cannot exercise significant influence over these entities due to local government investment in and influence over these entities , limitations on our involvement in the day-to-day operations and the present inability of the entities to provide timely financial information prepared in accordance with generally accepted accounting principles in the united states of america ( "us gaap" ) .', '2022 other equity method investments infraservs .', 'we hold indirect ownership interests in several german infraserv groups that own and develop industrial parks and provide on-site general and administrative support to tenants .', 'our ownership interest in the equity investments in infraserv affiliates are as follows : as of december 31 , 2014 ( in percentages ) .']
Tabular Data:
----------------------------------------
• , as of december 31 2014 ( in percentages )
• infraserv gmbh & co . gendorf kg, 39
• infraserv gmbh & co . hoechst kg, 32
• infraserv gmbh & co . knapsack kg, 27
----------------------------------------
Post-table: ['research and development our businesses are innovation-oriented and conduct research and development activities to develop new , and optimize existing , production technologies , as well as to develop commercially viable new products and applications .', 'research and development expense was $ 86 million , $ 85 million and $ 104 million for the years ended december 31 , 2014 , 2013 and 2012 , respectively .', 'we consider the amounts spent during each of the last three fiscal years on research and development activities to be sufficient to execute our current strategic initiatives .', 'intellectual property we attach importance to protecting our intellectual property , including safeguarding our confidential information and through our patents , trademarks and copyrights , in order to preserve our investment in research and development , manufacturing and marketing .', 'patents may cover processes , equipment , products , intermediate products and product uses .', 'we also seek to register trademarks as a means of protecting the brand names of our company and products .', 'patents .', 'in most industrial countries , patent protection exists for new substances and formulations , as well as for certain unique applications and production processes .', 'however , we do business in regions of the world where intellectual property protection may be limited and difficult to enforce .', 'confidential information .', 'we maintain stringent information security policies and procedures wherever we do business .', 'such information security policies and procedures include data encryption , controls over the disclosure and safekeeping of confidential information and trade secrets , as well as employee awareness training .', 'trademarks .', 'aoplus ae , aoplus ae2 , aoplus ae3 , ateva ae , avicor ae , britecoat ae , celanese ae , celanex ae , celcon ae , celfx 2122 , celstran ae , celvolit ae , clarifoil ae , duroset ae , ecovae ae , factor ae , fortron ae , gur ae , hostaform ae , impet ae , mowilith ae , nutrinova ae , qorus 2122 , riteflex ae , sunett ae , tcx 2122 , thermx ae , tufcor ae , vantage ae , vantageplus 2122 , vantage ae2 , vectra ae , vinamul ae , vitaldose ae , zenite ae and certain other branded products and services named in this document are registered or reserved trademarks or service marks owned or licensed by celanese .', 'the foregoing is not intended to be an exhaustive or comprehensive list of all registered or reserved trademarks and service marks owned or licensed by celanese .', 'fortron ae is a registered trademark of fortron industries llc. .'] | 0.01176 | CE/2014/page_16.pdf-1 | ['fortron industries llc .', 'fortron is a leading global producer of pps , sold under the fortron ae brand , which is used in a wide variety of automotive and other applications , especially those requiring heat and/or chemical resistance .', "fortron's facility is located in wilmington , north carolina .", 'this venture combines the sales , marketing , distribution , compounding and manufacturing expertise of celanese with the pps polymer technology expertise of kureha america inc .', 'cellulose derivatives strategic ventures .', "our cellulose derivatives ventures generally fund their operations using operating cash flow and pay dividends based on each ventures' performance in the preceding year .", 'in 2014 , 2013 and 2012 , we received cash dividends of $ 115 million , $ 92 million and $ 83 million , respectively .', 'although our ownership interest in each of our cellulose derivatives ventures exceeds 20% ( 20 % ) , we account for these investments using the cost method of accounting because we determined that we cannot exercise significant influence over these entities due to local government investment in and influence over these entities , limitations on our involvement in the day-to-day operations and the present inability of the entities to provide timely financial information prepared in accordance with generally accepted accounting principles in the united states of america ( "us gaap" ) .', '2022 other equity method investments infraservs .', 'we hold indirect ownership interests in several german infraserv groups that own and develop industrial parks and provide on-site general and administrative support to tenants .', 'our ownership interest in the equity investments in infraserv affiliates are as follows : as of december 31 , 2014 ( in percentages ) .'] | ['research and development our businesses are innovation-oriented and conduct research and development activities to develop new , and optimize existing , production technologies , as well as to develop commercially viable new products and applications .', 'research and development expense was $ 86 million , $ 85 million and $ 104 million for the years ended december 31 , 2014 , 2013 and 2012 , respectively .', 'we consider the amounts spent during each of the last three fiscal years on research and development activities to be sufficient to execute our current strategic initiatives .', 'intellectual property we attach importance to protecting our intellectual property , including safeguarding our confidential information and through our patents , trademarks and copyrights , in order to preserve our investment in research and development , manufacturing and marketing .', 'patents may cover processes , equipment , products , intermediate products and product uses .', 'we also seek to register trademarks as a means of protecting the brand names of our company and products .', 'patents .', 'in most industrial countries , patent protection exists for new substances and formulations , as well as for certain unique applications and production processes .', 'however , we do business in regions of the world where intellectual property protection may be limited and difficult to enforce .', 'confidential information .', 'we maintain stringent information security policies and procedures wherever we do business .', 'such information security policies and procedures include data encryption , controls over the disclosure and safekeeping of confidential information and trade secrets , as well as employee awareness training .', 'trademarks .', 'aoplus ae , aoplus ae2 , aoplus ae3 , ateva ae , avicor ae , britecoat ae , celanese ae , celanex ae , celcon ae , celfx 2122 , celstran ae , celvolit ae , clarifoil ae , duroset ae , ecovae ae , factor ae , fortron ae , gur ae , hostaform ae , impet ae , mowilith ae , nutrinova ae , qorus 2122 , riteflex ae , sunett ae , tcx 2122 , thermx ae , tufcor ae , vantage ae , vantageplus 2122 , vantage ae2 , vectra ae , vinamul ae , vitaldose ae , zenite ae and certain other branded products and services named in this document are registered or reserved trademarks or service marks owned or licensed by celanese .', 'the foregoing is not intended to be an exhaustive or comprehensive list of all registered or reserved trademarks and service marks owned or licensed by celanese .', 'fortron ae is a registered trademark of fortron industries llc. .'] | ----------------------------------------
• , as of december 31 2014 ( in percentages )
• infraserv gmbh & co . gendorf kg, 39
• infraserv gmbh & co . hoechst kg, 32
• infraserv gmbh & co . knapsack kg, 27
---------------------------------------- | subtract(86, 85), divide(#0, 85) | 0.01176 |
in 2013 what was the percent of the operating revenues that was attributable to other revenues | Context: ['f0b7 financial expectations 2013 we are cautious about the economic environment , but , assuming that industrial production grows approximately 3% ( 3 % ) as projected , volume should exceed 2013 levels .', 'even with no volume growth , we expect earnings to exceed 2013 earnings , generated by core pricing gains , on-going network improvements and productivity initiatives .', 'we expect that free cash flow for 2014 will be lower than 2013 as higher cash from operations will be more than offset by additional cash of approximately $ 400 million that will be used to pay income taxes that were previously deferred through bonus depreciation , increased capital spend and higher dividend payments .', 'results of operations operating revenues millions 2013 2012 2011 % ( % ) change 2013 v 2012 % ( % ) change 2012 v 2011 .']
Data Table:
----------------------------------------
millions 2013 2012 2011 % ( % ) change 2013 v 2012 % ( % ) change 2012 v 2011
freight revenues $ 20684 $ 19686 $ 18508 5% ( 5 % ) 6% ( 6 % )
other revenues 1279 1240 1049 3 18
total $ 21963 $ 20926 $ 19557 5% ( 5 % ) 7% ( 7 % )
----------------------------------------
Follow-up: ['we generate freight revenues by transporting freight or other materials from our six commodity groups .', 'freight revenues vary with volume ( carloads ) and arc .', 'changes in price , traffic mix and fuel surcharges drive arc .', 'we provide some of our customers with contractual incentives for meeting or exceeding specified cumulative volumes or shipping to and from specific locations , which we record as reductions to freight revenues based on the actual or projected future shipments .', 'we recognize freight revenues as shipments move from origin to destination .', 'we allocate freight revenues between reporting periods based on the relative transit time in each reporting period and recognize expenses as we incur them .', 'other revenues include revenues earned by our subsidiaries , revenues from our commuter rail operations , and accessorial revenues , which we earn when customers retain equipment owned or controlled by us or when we perform additional services such as switching or storage .', 'we recognize other revenues as we perform services or meet contractual obligations .', 'freight revenues from five of our six commodity groups increased during 2013 compared to 2012 .', 'revenue from agricultural products was down slightly compared to 2012 .', 'arc increased 5% ( 5 % ) , driven by core pricing gains , shifts in business mix and an automotive logistics management arrangement .', 'volume was essentially flat year over year as growth in automotives , frac sand , crude oil and domestic intermodal offset declines in coal , international intermodal and grain shipments .', 'freight revenues from four of our six commodity groups increased during 2012 compared to 2011 .', 'revenues from coal and agricultural products declined during the year .', 'our franchise diversity allowed us to take advantage of growth from shale-related markets ( crude oil , frac sand and pipe ) and strong automotive manufacturing , which offset volume declines from coal and agricultural products .', 'arc increased 7% ( 7 % ) , driven by core pricing gains and higher fuel cost recoveries .', 'improved fuel recovery provisions and higher fuel prices , including the lag effect of our programs ( surcharges trail fluctuations in fuel price by approximately two months ) , combined to increase revenues from fuel surcharges .', 'our fuel surcharge programs generated freight revenues of $ 2.6 billion , $ 2.6 billion , and $ 2.2 billion in 2013 , 2012 , and 2011 , respectively .', 'fuel surcharge in 2013 was essentially flat versus 2012 as lower fuel price offset improved fuel recovery provisions and the lag effect of our programs ( surcharges trail fluctuations in fuel price by approximately two months ) .', 'rising fuel prices and more shipments subject to fuel surcharges drove the increase from 2011 to 2012 .', 'in 2013 , other revenue increased from 2012 due primarily to miscellaneous contract revenue and higher revenues at our subsidiaries that broker intermodal and automotive services .', 'in 2012 , other revenues increased from 2011 due primarily to higher revenues at our subsidiaries that broker intermodal and automotive services .', 'assessorial revenues also increased in 2012 due to container revenue related to an increase in intermodal shipments. .'] | 0.05823 | UNP/2013/page_25.pdf-1 | ['f0b7 financial expectations 2013 we are cautious about the economic environment , but , assuming that industrial production grows approximately 3% ( 3 % ) as projected , volume should exceed 2013 levels .', 'even with no volume growth , we expect earnings to exceed 2013 earnings , generated by core pricing gains , on-going network improvements and productivity initiatives .', 'we expect that free cash flow for 2014 will be lower than 2013 as higher cash from operations will be more than offset by additional cash of approximately $ 400 million that will be used to pay income taxes that were previously deferred through bonus depreciation , increased capital spend and higher dividend payments .', 'results of operations operating revenues millions 2013 2012 2011 % ( % ) change 2013 v 2012 % ( % ) change 2012 v 2011 .'] | ['we generate freight revenues by transporting freight or other materials from our six commodity groups .', 'freight revenues vary with volume ( carloads ) and arc .', 'changes in price , traffic mix and fuel surcharges drive arc .', 'we provide some of our customers with contractual incentives for meeting or exceeding specified cumulative volumes or shipping to and from specific locations , which we record as reductions to freight revenues based on the actual or projected future shipments .', 'we recognize freight revenues as shipments move from origin to destination .', 'we allocate freight revenues between reporting periods based on the relative transit time in each reporting period and recognize expenses as we incur them .', 'other revenues include revenues earned by our subsidiaries , revenues from our commuter rail operations , and accessorial revenues , which we earn when customers retain equipment owned or controlled by us or when we perform additional services such as switching or storage .', 'we recognize other revenues as we perform services or meet contractual obligations .', 'freight revenues from five of our six commodity groups increased during 2013 compared to 2012 .', 'revenue from agricultural products was down slightly compared to 2012 .', 'arc increased 5% ( 5 % ) , driven by core pricing gains , shifts in business mix and an automotive logistics management arrangement .', 'volume was essentially flat year over year as growth in automotives , frac sand , crude oil and domestic intermodal offset declines in coal , international intermodal and grain shipments .', 'freight revenues from four of our six commodity groups increased during 2012 compared to 2011 .', 'revenues from coal and agricultural products declined during the year .', 'our franchise diversity allowed us to take advantage of growth from shale-related markets ( crude oil , frac sand and pipe ) and strong automotive manufacturing , which offset volume declines from coal and agricultural products .', 'arc increased 7% ( 7 % ) , driven by core pricing gains and higher fuel cost recoveries .', 'improved fuel recovery provisions and higher fuel prices , including the lag effect of our programs ( surcharges trail fluctuations in fuel price by approximately two months ) , combined to increase revenues from fuel surcharges .', 'our fuel surcharge programs generated freight revenues of $ 2.6 billion , $ 2.6 billion , and $ 2.2 billion in 2013 , 2012 , and 2011 , respectively .', 'fuel surcharge in 2013 was essentially flat versus 2012 as lower fuel price offset improved fuel recovery provisions and the lag effect of our programs ( surcharges trail fluctuations in fuel price by approximately two months ) .', 'rising fuel prices and more shipments subject to fuel surcharges drove the increase from 2011 to 2012 .', 'in 2013 , other revenue increased from 2012 due primarily to miscellaneous contract revenue and higher revenues at our subsidiaries that broker intermodal and automotive services .', 'in 2012 , other revenues increased from 2011 due primarily to higher revenues at our subsidiaries that broker intermodal and automotive services .', 'assessorial revenues also increased in 2012 due to container revenue related to an increase in intermodal shipments. .'] | ----------------------------------------
millions 2013 2012 2011 % ( % ) change 2013 v 2012 % ( % ) change 2012 v 2011
freight revenues $ 20684 $ 19686 $ 18508 5% ( 5 % ) 6% ( 6 % )
other revenues 1279 1240 1049 3 18
total $ 21963 $ 20926 $ 19557 5% ( 5 % ) 7% ( 7 % )
---------------------------------------- | divide(1279, 21963) | 0.05823 |
what percent of total revenues was represented by merchant services in 2007? | Pre-text: ['asia-pacific acquisition on july 24 , 2006 , we completed the purchase of a fifty-six percent ownership interest in the merchant acquiring business of the hongkong and shanghai banking corporation limited , or hsbc .', 'this business provides card payment processing services to merchants in the asia-pacific region .', 'the business includes hsbc 2019s payment processing operations in the following ten countries and territories : brunei , china , hong kong , india , macau , malaysia , maldives , singapore , sri lanka and taiwan .', 'under the terms of the agreement , we initially paid hsbc $ 67.2 million in cash to acquire our ownership interest .', 'we paid an additional $ 1.4 million under this agreement during fiscal 2007 , for a total purchase price of $ 68.6 million to acquire our ownership interest .', 'in conjunction with this acquisition , we entered into a transition services agreement with hsbc that may be terminated at any time .', 'under this agreement , we expect hsbc will continue to perform payment processing operations and related support services until we integrate these functions into our own operations , which we expect will be completed in 2010 .', 'the operating results of this acquisition are included in our consolidated statements of income from the date of the acquisition .', 'business description we are a leading payment processing and consumer money transfer company .', 'as a high-volume processor of electronic transactions , we enable merchants , multinational corporations , financial institutions , consumers , government agencies and other profit and non-profit business enterprises to facilitate payments to purchase goods and services or further other economic goals .', 'our role is to serve as an intermediary in the exchange of information and funds that must occur between parties so that a payment transaction or money transfer can be completed .', 'we were incorporated in georgia as global payments inc .', 'in september 2000 , and we spun-off from our former parent company on january 31 , 2001 .', 'including our time as part of our former parent company , we have provided transaction processing services since 1967 .', 'we market our products and services throughout the united states , canada , europe and the asia-pacific region .', 'we operate in two business segments , merchant services and money transfer , and we offer various products through these segments .', 'our merchant services segment targets customers in many vertical industries including financial institutions , gaming , government , health care , professional services , restaurants , retail , universities and utilities .', 'our money transfer segment primarily targets immigrants in the united states and europe .', 'see note 10 in the notes to consolidated financial statements for additional segment information and 201citem 1a 2014risk factors 201d for a discussion of risks involved with our international operations .', 'total revenues from our merchant services and money transfer segments , by geography and sales channel , are as follows ( amounts in thousands ) : .']
######
Table:
****************************************
Row 1: , 2007, 2006, 2005
Row 2: domestic direct, $ 558026, $ 481273, $ 410047
Row 3: canada, 224570, 208126, 175190
Row 4: asia-pacific, 48449, 2014, 2014
Row 5: central and eastern europe, 51224, 47114, 40598
Row 6: domestic indirect and other, 46873, 51987, 62033
Row 7: merchant services, 929142, 788500, 687868
Row 8: domestic, 115416, 109067, 91448
Row 9: europe, 16965, 10489, 5015
Row 10: money transfer, 132381, 119556, 96463
Row 11: total revenues, $ 1061523, $ 908056, $ 784331
****************************************
######
Follow-up: ['.'] | 0.87529 | GPN/2007/page_18.pdf-2 | ['asia-pacific acquisition on july 24 , 2006 , we completed the purchase of a fifty-six percent ownership interest in the merchant acquiring business of the hongkong and shanghai banking corporation limited , or hsbc .', 'this business provides card payment processing services to merchants in the asia-pacific region .', 'the business includes hsbc 2019s payment processing operations in the following ten countries and territories : brunei , china , hong kong , india , macau , malaysia , maldives , singapore , sri lanka and taiwan .', 'under the terms of the agreement , we initially paid hsbc $ 67.2 million in cash to acquire our ownership interest .', 'we paid an additional $ 1.4 million under this agreement during fiscal 2007 , for a total purchase price of $ 68.6 million to acquire our ownership interest .', 'in conjunction with this acquisition , we entered into a transition services agreement with hsbc that may be terminated at any time .', 'under this agreement , we expect hsbc will continue to perform payment processing operations and related support services until we integrate these functions into our own operations , which we expect will be completed in 2010 .', 'the operating results of this acquisition are included in our consolidated statements of income from the date of the acquisition .', 'business description we are a leading payment processing and consumer money transfer company .', 'as a high-volume processor of electronic transactions , we enable merchants , multinational corporations , financial institutions , consumers , government agencies and other profit and non-profit business enterprises to facilitate payments to purchase goods and services or further other economic goals .', 'our role is to serve as an intermediary in the exchange of information and funds that must occur between parties so that a payment transaction or money transfer can be completed .', 'we were incorporated in georgia as global payments inc .', 'in september 2000 , and we spun-off from our former parent company on january 31 , 2001 .', 'including our time as part of our former parent company , we have provided transaction processing services since 1967 .', 'we market our products and services throughout the united states , canada , europe and the asia-pacific region .', 'we operate in two business segments , merchant services and money transfer , and we offer various products through these segments .', 'our merchant services segment targets customers in many vertical industries including financial institutions , gaming , government , health care , professional services , restaurants , retail , universities and utilities .', 'our money transfer segment primarily targets immigrants in the united states and europe .', 'see note 10 in the notes to consolidated financial statements for additional segment information and 201citem 1a 2014risk factors 201d for a discussion of risks involved with our international operations .', 'total revenues from our merchant services and money transfer segments , by geography and sales channel , are as follows ( amounts in thousands ) : .'] | ['.'] | ****************************************
Row 1: , 2007, 2006, 2005
Row 2: domestic direct, $ 558026, $ 481273, $ 410047
Row 3: canada, 224570, 208126, 175190
Row 4: asia-pacific, 48449, 2014, 2014
Row 5: central and eastern europe, 51224, 47114, 40598
Row 6: domestic indirect and other, 46873, 51987, 62033
Row 7: merchant services, 929142, 788500, 687868
Row 8: domestic, 115416, 109067, 91448
Row 9: europe, 16965, 10489, 5015
Row 10: money transfer, 132381, 119556, 96463
Row 11: total revenues, $ 1061523, $ 908056, $ 784331
**************************************** | divide(929142, 1061523) | 0.87529 |
what was total pipeline barrels handled ( thousands of barrels per day ) for the three year period? | Background: ['approximately 710 asphalt-paving contractors , government entities ( states , counties , cities and townships ) and asphalt roofing shingle manufacturers .', 'we also produce asphalt cements , polymerized asphalt , asphalt emulsions and industrial asphalts .', 'retail marketing ssa , our wholly-owned subsidiary , sells gasoline and merchandise through owned and operated retail outlets primarily under the speedway ae and superamerica ae brands .', 'diesel fuel is also sold at a number of these outlets .', 'ssa retail outlets offer a wide variety of merchandise , such as prepared foods , beverages , and non-food items , as well as a significant number of proprietary items .', 'as of december 31 , 2008 , ssa had 1617 retail outlets in nine states .', 'sales of refined products through these retail outlets accounted for 15 percent of our refined product sales volumes in 2008 .', 'revenues from sales of non-petroleum merchandise through these retail outlets totaled $ 2838 million in 2008 , $ 2796 million in 2007 and $ 2706 million in 2006 .', 'the demand for gasoline is seasonal in a majority of ssa markets , usually with the highest demand during the summer driving season .', 'profit levels from the sale of merchandise and services tend to be less volatile than profit levels from the retail sale of gasoline and diesel fuel .', 'in october 2008 , we sold our interest in pilot travel centers llc ( 201cptc 201d ) , an operator of travel centers in the united states .', 'pipeline transportation we own a system of pipelines through marathon pipe line llc ( 201cmpl 201d ) and ohio river pipe line llc ( 201corpl 201d ) , our wholly-owned subsidiaries .', 'our pipeline systems transport crude oil and refined products primarily in the midwest and gulf coast regions to our refineries , our terminals and other pipeline systems .', 'our mpl and orpl wholly-owned and undivided interest common carrier systems consist of 1815 miles of crude oil lines and 1826 miles of refined product lines comprising 34 systems located in 11 states .', 'the mpl common carrier pipeline network is one of the largest petroleum pipeline systems in the united states , based on total barrels delivered .', 'our common carrier pipeline systems are subject to state and federal energy regulatory commission regulations and guidelines , including published tariffs for the transportation of crude oil and refined products .', 'third parties generated 11 percent of the crude oil and refined product shipments on our mpl and orpl common carrier pipelines in 2008 .', 'our mpl and orpl common carrier pipelines transported the volumes shown in the following table for each of the last three years .', 'pipeline barrels handled ( thousands of barrels per day ) 2008 2007 2006 .']
Tabular Data:
****************************************
( thousands of barrels per day ), 2008, 2007, 2006
crude oil trunk lines, 1405, 1451, 1437
refined products trunk lines, 960, 1049, 1101
total, 2365, 2500, 2538
****************************************
Follow-up: ['we also own 176 miles of private crude oil pipelines and 850 miles of private refined products pipelines , and we lease 217 miles of common carrier refined product pipelines .', 'we have partial ownership interests in several pipeline companies that have approximately 780 miles of crude oil pipelines and 3000 miles of refined products pipelines , including about 800 miles operated by mpl .', 'in addition , mpl operates most of our private pipelines and 985 miles of crude oil and 160 miles of natural gas pipelines owned by our e&p segment .', 'our major refined product lines include the cardinal products pipeline and the wabash pipeline .', 'the cardinal products pipeline delivers refined products from kenova , west virginia , to columbus , ohio .', 'the wabash pipeline system delivers product from robinson , illinois , to various terminals in the area of chicago , illinois .', 'other significant refined product pipelines owned and operated by mpl extend from : robinson , illinois , to louisville , kentucky ; garyville , louisiana , to zachary , louisiana ; and texas city , texas , to pasadena , texas. .'] | 7403.0 | MRO/2008/page_45.pdf-4 | ['approximately 710 asphalt-paving contractors , government entities ( states , counties , cities and townships ) and asphalt roofing shingle manufacturers .', 'we also produce asphalt cements , polymerized asphalt , asphalt emulsions and industrial asphalts .', 'retail marketing ssa , our wholly-owned subsidiary , sells gasoline and merchandise through owned and operated retail outlets primarily under the speedway ae and superamerica ae brands .', 'diesel fuel is also sold at a number of these outlets .', 'ssa retail outlets offer a wide variety of merchandise , such as prepared foods , beverages , and non-food items , as well as a significant number of proprietary items .', 'as of december 31 , 2008 , ssa had 1617 retail outlets in nine states .', 'sales of refined products through these retail outlets accounted for 15 percent of our refined product sales volumes in 2008 .', 'revenues from sales of non-petroleum merchandise through these retail outlets totaled $ 2838 million in 2008 , $ 2796 million in 2007 and $ 2706 million in 2006 .', 'the demand for gasoline is seasonal in a majority of ssa markets , usually with the highest demand during the summer driving season .', 'profit levels from the sale of merchandise and services tend to be less volatile than profit levels from the retail sale of gasoline and diesel fuel .', 'in october 2008 , we sold our interest in pilot travel centers llc ( 201cptc 201d ) , an operator of travel centers in the united states .', 'pipeline transportation we own a system of pipelines through marathon pipe line llc ( 201cmpl 201d ) and ohio river pipe line llc ( 201corpl 201d ) , our wholly-owned subsidiaries .', 'our pipeline systems transport crude oil and refined products primarily in the midwest and gulf coast regions to our refineries , our terminals and other pipeline systems .', 'our mpl and orpl wholly-owned and undivided interest common carrier systems consist of 1815 miles of crude oil lines and 1826 miles of refined product lines comprising 34 systems located in 11 states .', 'the mpl common carrier pipeline network is one of the largest petroleum pipeline systems in the united states , based on total barrels delivered .', 'our common carrier pipeline systems are subject to state and federal energy regulatory commission regulations and guidelines , including published tariffs for the transportation of crude oil and refined products .', 'third parties generated 11 percent of the crude oil and refined product shipments on our mpl and orpl common carrier pipelines in 2008 .', 'our mpl and orpl common carrier pipelines transported the volumes shown in the following table for each of the last three years .', 'pipeline barrels handled ( thousands of barrels per day ) 2008 2007 2006 .'] | ['we also own 176 miles of private crude oil pipelines and 850 miles of private refined products pipelines , and we lease 217 miles of common carrier refined product pipelines .', 'we have partial ownership interests in several pipeline companies that have approximately 780 miles of crude oil pipelines and 3000 miles of refined products pipelines , including about 800 miles operated by mpl .', 'in addition , mpl operates most of our private pipelines and 985 miles of crude oil and 160 miles of natural gas pipelines owned by our e&p segment .', 'our major refined product lines include the cardinal products pipeline and the wabash pipeline .', 'the cardinal products pipeline delivers refined products from kenova , west virginia , to columbus , ohio .', 'the wabash pipeline system delivers product from robinson , illinois , to various terminals in the area of chicago , illinois .', 'other significant refined product pipelines owned and operated by mpl extend from : robinson , illinois , to louisville , kentucky ; garyville , louisiana , to zachary , louisiana ; and texas city , texas , to pasadena , texas. .'] | ****************************************
( thousands of barrels per day ), 2008, 2007, 2006
crude oil trunk lines, 1405, 1451, 1437
refined products trunk lines, 960, 1049, 1101
total, 2365, 2500, 2538
**************************************** | table_sum(total, none) | 7403.0 |
what percent of total reserves for environmental contingencies are related to new jersey chrome in 2018? | Pre-text: ['2018 ppg annual report and form 10-k 83 current open and active claims post-pittsburgh corning bankruptcy the company is aware of approximately 460 open and active asbestos-related claims pending against the company and certain of its subsidiaries .', 'these claims consist primarily of non-pc relationship claims and claims against a subsidiary of ppg .', 'the company is defending the remaining open and active claims vigorously .', 'since april 1 , 2013 , a subsidiary of ppg has been implicated in claims alleging death or injury caused by asbestos-containing products manufactured , distributed or sold by a north american architectural coatings business or its predecessors which was acquired by ppg .', 'all such claims have been either served upon or tendered to the seller for defense and indemnity pursuant to obligations undertaken by the seller in connection with the company 2019s purchase of the north american architectural coatings business .', 'the seller has accepted the defense of these claims subject to the terms of various agreements between the company and the seller .', 'the seller 2019s defense and indemnity obligations in connection with newly filed claims ceased with respect to claims filed after april 1 , 2018 .', 'ppg has established reserves totaling approximately $ 180 million for asbestos-related claims that would not be channeled to the trust which , based on presently available information , we believe will be sufficient to encompass all of ppg 2019s current and potential future asbestos liabilities .', 'these reserves include a $ 162 million reserve established in 2009 in connection with an amendment to the pc plan of reorganization .', 'these reserves , which are included within other liabilities on the accompanying consolidated balance sheets , represent ppg 2019s best estimate of its liability for these claims .', 'ppg does not have sufficient current claim information or settlement history on which to base a better estimate of this liability in light of the fact that the bankruptcy court 2019s injunction staying most asbestos claims against the company was in effect from april 2000 through may 2016 .', 'ppg will monitor the activity associated with its remaining asbestos claims and evaluate , on a periodic basis , its estimated liability for such claims , its insurance assets then available , and all underlying assumptions to determine whether any adjustment to the reserves for these claims is required .', 'the amount reserved for asbestos-related claims by its nature is subject to many uncertainties that may change over time , including ( i ) the ultimate number of claims filed ; ( ii ) the amounts required to resolve both currently known and future unknown claims ; ( iii ) the amount of insurance , if any , available to cover such claims ; ( iv ) the unpredictable aspects of the litigation process , including a changing trial docket and the jurisdictions in which trials are scheduled ; ( v ) the outcome of any trials , including potential judgments or jury verdicts ; ( vi ) the lack of specific information in many cases concerning exposure for which ppg is allegedly responsible , and the claimants 2019 alleged diseases resulting from such exposure ; and ( vii ) potential changes in applicable federal and/or state tort liability law .', 'all of these factors may have a material effect upon future asbestos- related liability estimates .', 'as a potential offset to any future asbestos financial exposure , under the pc plan of reorganization ppg retained , for its own account , the right to pursue insurance coverage from certain of its historical insurers that did not participate in the pc plan of reorganization .', 'while the ultimate outcome of ppg 2019s asbestos litigation cannot be predicted with certainty , ppg believes that any financial exposure resulting from its asbestos-related claims will not have a material adverse effect on ppg 2019s consolidated financial position , liquidity or results of operations .', 'environmental matters it is ppg 2019s policy to accrue expenses for environmental contingencies when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated .', 'reserves for environmental contingencies are exclusive of claims against third parties and are generally not discounted .', 'in management 2019s opinion , the company operates in an environmentally sound manner and the outcome of the company 2019s environmental contingencies will not have a material effect on ppg 2019s financial position or liquidity ; however , any such outcome may be material to the results of operations of any particular period in which costs , if any , are recognized .', 'management anticipates that the resolution of the company 2019s environmental contingencies will occur over an extended period of time .', 'as of december 31 , 2018 and 2017 , ppg had reserves for environmental contingencies associated with ppg 2019s former chromium manufacturing plant in jersey city , n.j .', '( 201cnew jersey chrome 201d ) and for other environmental contingencies , including national priority list sites and legacy glass and chemical manufacturing sites .', 'these reserves are reported as accounts payable and accrued liabilities and other liabilities in the accompanying consolidated balance sheet .', 'environmental reserves .']
######
Data Table:
****************************************
( $ in millions ), 2018, 2017
new jersey chrome, $ 151, $ 136
glass and chemical, 90, 71
other, 50, 51
total, $ 291, $ 258
current portion, $ 105, $ 73
****************************************
######
Additional Information: ['notes to the consolidated financial statements .'] | 0.5189 | PPG/2018/page_85.pdf-4 | ['2018 ppg annual report and form 10-k 83 current open and active claims post-pittsburgh corning bankruptcy the company is aware of approximately 460 open and active asbestos-related claims pending against the company and certain of its subsidiaries .', 'these claims consist primarily of non-pc relationship claims and claims against a subsidiary of ppg .', 'the company is defending the remaining open and active claims vigorously .', 'since april 1 , 2013 , a subsidiary of ppg has been implicated in claims alleging death or injury caused by asbestos-containing products manufactured , distributed or sold by a north american architectural coatings business or its predecessors which was acquired by ppg .', 'all such claims have been either served upon or tendered to the seller for defense and indemnity pursuant to obligations undertaken by the seller in connection with the company 2019s purchase of the north american architectural coatings business .', 'the seller has accepted the defense of these claims subject to the terms of various agreements between the company and the seller .', 'the seller 2019s defense and indemnity obligations in connection with newly filed claims ceased with respect to claims filed after april 1 , 2018 .', 'ppg has established reserves totaling approximately $ 180 million for asbestos-related claims that would not be channeled to the trust which , based on presently available information , we believe will be sufficient to encompass all of ppg 2019s current and potential future asbestos liabilities .', 'these reserves include a $ 162 million reserve established in 2009 in connection with an amendment to the pc plan of reorganization .', 'these reserves , which are included within other liabilities on the accompanying consolidated balance sheets , represent ppg 2019s best estimate of its liability for these claims .', 'ppg does not have sufficient current claim information or settlement history on which to base a better estimate of this liability in light of the fact that the bankruptcy court 2019s injunction staying most asbestos claims against the company was in effect from april 2000 through may 2016 .', 'ppg will monitor the activity associated with its remaining asbestos claims and evaluate , on a periodic basis , its estimated liability for such claims , its insurance assets then available , and all underlying assumptions to determine whether any adjustment to the reserves for these claims is required .', 'the amount reserved for asbestos-related claims by its nature is subject to many uncertainties that may change over time , including ( i ) the ultimate number of claims filed ; ( ii ) the amounts required to resolve both currently known and future unknown claims ; ( iii ) the amount of insurance , if any , available to cover such claims ; ( iv ) the unpredictable aspects of the litigation process , including a changing trial docket and the jurisdictions in which trials are scheduled ; ( v ) the outcome of any trials , including potential judgments or jury verdicts ; ( vi ) the lack of specific information in many cases concerning exposure for which ppg is allegedly responsible , and the claimants 2019 alleged diseases resulting from such exposure ; and ( vii ) potential changes in applicable federal and/or state tort liability law .', 'all of these factors may have a material effect upon future asbestos- related liability estimates .', 'as a potential offset to any future asbestos financial exposure , under the pc plan of reorganization ppg retained , for its own account , the right to pursue insurance coverage from certain of its historical insurers that did not participate in the pc plan of reorganization .', 'while the ultimate outcome of ppg 2019s asbestos litigation cannot be predicted with certainty , ppg believes that any financial exposure resulting from its asbestos-related claims will not have a material adverse effect on ppg 2019s consolidated financial position , liquidity or results of operations .', 'environmental matters it is ppg 2019s policy to accrue expenses for environmental contingencies when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated .', 'reserves for environmental contingencies are exclusive of claims against third parties and are generally not discounted .', 'in management 2019s opinion , the company operates in an environmentally sound manner and the outcome of the company 2019s environmental contingencies will not have a material effect on ppg 2019s financial position or liquidity ; however , any such outcome may be material to the results of operations of any particular period in which costs , if any , are recognized .', 'management anticipates that the resolution of the company 2019s environmental contingencies will occur over an extended period of time .', 'as of december 31 , 2018 and 2017 , ppg had reserves for environmental contingencies associated with ppg 2019s former chromium manufacturing plant in jersey city , n.j .', '( 201cnew jersey chrome 201d ) and for other environmental contingencies , including national priority list sites and legacy glass and chemical manufacturing sites .', 'these reserves are reported as accounts payable and accrued liabilities and other liabilities in the accompanying consolidated balance sheet .', 'environmental reserves .'] | ['notes to the consolidated financial statements .'] | ****************************************
( $ in millions ), 2018, 2017
new jersey chrome, $ 151, $ 136
glass and chemical, 90, 71
other, 50, 51
total, $ 291, $ 258
current portion, $ 105, $ 73
**************************************** | divide(151, 291) | 0.5189 |
what portion of the total securities approved by stockholders is oustanding? | Context: ['bhge 2018 form 10-k | 107 part iii item 10 .', 'directors , executive officers and corporate governance information regarding our code of conduct , the spirit and the letter , and code of ethical conduct certificates for our principal executive officer , principal financial officer and principal accounting officer are described in item 1 .', 'business of this annual report .', 'information concerning our directors is set forth in the sections entitled "proposal no .', '1 , election of directors - board nominees for directors" and "corporate governance - committees of the board" in our definitive proxy statement for the 2019 annual meeting of stockholders to be filed with the sec pursuant to the exchange act within 120 days of the end of our fiscal year on december 31 , 2018 ( proxy statement ) , which sections are incorporated herein by reference .', 'for information regarding our executive officers , see "item 1 .', 'business - executive officers of baker hughes" in this annual report on form 10-k .', 'additional information regarding compliance by directors and executive officers with section 16 ( a ) of the exchange act is set forth under the section entitled "section 16 ( a ) beneficial ownership reporting compliance" in our proxy statement , which section is incorporated herein by reference .', 'item 11 .', 'executive compensation information for this item is set forth in the following sections of our proxy statement , which sections are incorporated herein by reference : "compensation discussion and analysis" "director compensation" "compensation committee interlocks and insider participation" and "compensation committee report." item 12 .', 'security ownership of certain beneficial owners and management and related stockholder matters information concerning security ownership of certain beneficial owners and our management is set forth in the sections entitled "stock ownership of certain beneficial owners" and 201cstock ownership of section 16 ( a ) director and executive officers 201d in our proxy statement , which sections are incorporated herein by reference .', 'we permit our employees , officers and directors to enter into written trading plans complying with rule 10b5-1 under the exchange act .', "rule 10b5-1 provides criteria under which such an individual may establish a prearranged plan to buy or sell a specified number of shares of a company's stock over a set period of time .", 'any such plan must be entered into in good faith at a time when the individual is not in possession of material , nonpublic information .', "if an individual establishes a plan satisfying the requirements of rule 10b5-1 , such individual's subsequent receipt of material , nonpublic information will not prevent transactions under the plan from being executed .", 'certain of our officers have advised us that they have and may enter into stock sales plans for the sale of shares of our class a common stock which are intended to comply with the requirements of rule 10b5-1 of the exchange act .', 'in addition , the company has and may in the future enter into repurchases of our class a common stock under a plan that complies with rule 10b5-1 or rule 10b-18 of the exchange act .', 'equity compensation plan information the information in the following table is presented as of december 31 , 2018 with respect to shares of our class a common stock that may be issued under our lti plan which has been approved by our stockholders ( in millions , except per share prices ) .', 'equity compensation plan category number of securities to be issued upon exercise of outstanding options , warrants and rights weighted average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in the first column ) .']
Tabular Data:
****************************************
equity compensation plancategory number ofsecurities to beissued uponexercise ofoutstandingoptions warrantsand rights weighted averageexercise price ofoutstandingoptions warrantsand rights number of securitiesremaining availablefor future issuanceunder equitycompensation plans ( excluding securitiesreflected in the firstcolumn )
stockholder-approved plans 2.7 $ 36.11 46.2
nonstockholder-approved plans 2014 2014 2014
subtotal ( except for weighted average exercise price ) 2.7 36.11 46.2
employee stock purchase plan 2014 2014 15.0
total 2.7 $ 36.11 61.2
****************************************
Additional Information: ['.'] | 48.9 | BKR/2018/page_127.pdf-2 | ['bhge 2018 form 10-k | 107 part iii item 10 .', 'directors , executive officers and corporate governance information regarding our code of conduct , the spirit and the letter , and code of ethical conduct certificates for our principal executive officer , principal financial officer and principal accounting officer are described in item 1 .', 'business of this annual report .', 'information concerning our directors is set forth in the sections entitled "proposal no .', '1 , election of directors - board nominees for directors" and "corporate governance - committees of the board" in our definitive proxy statement for the 2019 annual meeting of stockholders to be filed with the sec pursuant to the exchange act within 120 days of the end of our fiscal year on december 31 , 2018 ( proxy statement ) , which sections are incorporated herein by reference .', 'for information regarding our executive officers , see "item 1 .', 'business - executive officers of baker hughes" in this annual report on form 10-k .', 'additional information regarding compliance by directors and executive officers with section 16 ( a ) of the exchange act is set forth under the section entitled "section 16 ( a ) beneficial ownership reporting compliance" in our proxy statement , which section is incorporated herein by reference .', 'item 11 .', 'executive compensation information for this item is set forth in the following sections of our proxy statement , which sections are incorporated herein by reference : "compensation discussion and analysis" "director compensation" "compensation committee interlocks and insider participation" and "compensation committee report." item 12 .', 'security ownership of certain beneficial owners and management and related stockholder matters information concerning security ownership of certain beneficial owners and our management is set forth in the sections entitled "stock ownership of certain beneficial owners" and 201cstock ownership of section 16 ( a ) director and executive officers 201d in our proxy statement , which sections are incorporated herein by reference .', 'we permit our employees , officers and directors to enter into written trading plans complying with rule 10b5-1 under the exchange act .', "rule 10b5-1 provides criteria under which such an individual may establish a prearranged plan to buy or sell a specified number of shares of a company's stock over a set period of time .", 'any such plan must be entered into in good faith at a time when the individual is not in possession of material , nonpublic information .', "if an individual establishes a plan satisfying the requirements of rule 10b5-1 , such individual's subsequent receipt of material , nonpublic information will not prevent transactions under the plan from being executed .", 'certain of our officers have advised us that they have and may enter into stock sales plans for the sale of shares of our class a common stock which are intended to comply with the requirements of rule 10b5-1 of the exchange act .', 'in addition , the company has and may in the future enter into repurchases of our class a common stock under a plan that complies with rule 10b5-1 or rule 10b-18 of the exchange act .', 'equity compensation plan information the information in the following table is presented as of december 31 , 2018 with respect to shares of our class a common stock that may be issued under our lti plan which has been approved by our stockholders ( in millions , except per share prices ) .', 'equity compensation plan category number of securities to be issued upon exercise of outstanding options , warrants and rights weighted average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in the first column ) .'] | ['.'] | ****************************************
equity compensation plancategory number ofsecurities to beissued uponexercise ofoutstandingoptions warrantsand rights weighted averageexercise price ofoutstandingoptions warrantsand rights number of securitiesremaining availablefor future issuanceunder equitycompensation plans ( excluding securitiesreflected in the firstcolumn )
stockholder-approved plans 2.7 $ 36.11 46.2
nonstockholder-approved plans 2014 2014 2014
subtotal ( except for weighted average exercise price ) 2.7 36.11 46.2
employee stock purchase plan 2014 2014 15.0
total 2.7 $ 36.11 61.2
**************************************** | add(2.7, 46.2) | 48.9 |
what are the deferred fuel cost revisions as a percentage of the increase in fuel cost recovery revenues? | Context: ['entergy louisiana , inc .', "management's financial discussion and analysis gross operating revenues , fuel and purchased power expenses , and other regulatory credits gross operating revenues increased primarily due to : 2022 an increase of $ 98.0 million in fuel cost recovery revenues due to higher fuel rates ; and 2022 an increase due to volume/weather , as discussed above .", 'the increase was partially offset by the following : 2022 a decrease of $ 31.9 million in the price applied to unbilled sales , as discussed above ; 2022 a decrease of $ 12.2 million in rate refund provisions , as discussed above ; and 2022 a decrease of $ 5.2 million in gross wholesale revenue due to decreased sales to affiliated systems .', 'fuel and purchased power expenses increased primarily due to : 2022 an increase in the recovery from customers of deferred fuel costs ; and 2022 an increase in the market price of natural gas .', "other regulatory credits increased primarily due to : 2022 the deferral in 2004 of $ 14.3 million of capacity charges related to generation resource planning as allowed by the lpsc ; 2022 the amortization in 2003 of $ 11.8 million of deferred capacity charges , as discussed above ; and 2022 the deferral in 2004 of $ 11.4 million related to entergy's voluntary severance program , in accordance with a proposed stipulation with the lpsc staff .", "2003 compared to 2002 net revenue , which is entergy louisiana's measure of gross margin , consists of operating revenues net of : 1 ) fuel , fuel-related , and purchased power expenses and 2 ) other regulatory charges ( credits ) .", 'following is an analysis of the change in net revenue comparing 2003 to 2002. .']
Table:
========================================
| ( in millions )
----------|----------
2002 net revenue | $ 922.9
deferred fuel cost revisions | 59.1
asset retirement obligation | 8.2
volume | -16.2 ( 16.2 )
vidalia settlement | -9.2 ( 9.2 )
other | 8.9
2003 net revenue | $ 973.7
========================================
Post-table: ['the deferred fuel cost revisions variance resulted from a revised unbilled sales pricing estimate made in december 2002 and a further revision made in the first quarter of 2003 to more closely align the fuel component of that pricing with expected recoverable fuel costs .', 'the asset retirement obligation variance was due to the implementation of sfas 143 , "accounting for asset retirement obligations" adopted in january 2003 .', 'see "critical accounting estimates" for more details on sfas 143 .', 'the increase was offset by decommissioning expense and had no effect on net income .', 'the volume variance was due to a decrease in electricity usage in the service territory .', 'billed usage decreased 1868 gwh in the industrial sector including the loss of a large industrial customer to cogeneration. .'] | 0.60306 | ETR/2004/page_213.pdf-2 | ['entergy louisiana , inc .', "management's financial discussion and analysis gross operating revenues , fuel and purchased power expenses , and other regulatory credits gross operating revenues increased primarily due to : 2022 an increase of $ 98.0 million in fuel cost recovery revenues due to higher fuel rates ; and 2022 an increase due to volume/weather , as discussed above .", 'the increase was partially offset by the following : 2022 a decrease of $ 31.9 million in the price applied to unbilled sales , as discussed above ; 2022 a decrease of $ 12.2 million in rate refund provisions , as discussed above ; and 2022 a decrease of $ 5.2 million in gross wholesale revenue due to decreased sales to affiliated systems .', 'fuel and purchased power expenses increased primarily due to : 2022 an increase in the recovery from customers of deferred fuel costs ; and 2022 an increase in the market price of natural gas .', "other regulatory credits increased primarily due to : 2022 the deferral in 2004 of $ 14.3 million of capacity charges related to generation resource planning as allowed by the lpsc ; 2022 the amortization in 2003 of $ 11.8 million of deferred capacity charges , as discussed above ; and 2022 the deferral in 2004 of $ 11.4 million related to entergy's voluntary severance program , in accordance with a proposed stipulation with the lpsc staff .", "2003 compared to 2002 net revenue , which is entergy louisiana's measure of gross margin , consists of operating revenues net of : 1 ) fuel , fuel-related , and purchased power expenses and 2 ) other regulatory charges ( credits ) .", 'following is an analysis of the change in net revenue comparing 2003 to 2002. .'] | ['the deferred fuel cost revisions variance resulted from a revised unbilled sales pricing estimate made in december 2002 and a further revision made in the first quarter of 2003 to more closely align the fuel component of that pricing with expected recoverable fuel costs .', 'the asset retirement obligation variance was due to the implementation of sfas 143 , "accounting for asset retirement obligations" adopted in january 2003 .', 'see "critical accounting estimates" for more details on sfas 143 .', 'the increase was offset by decommissioning expense and had no effect on net income .', 'the volume variance was due to a decrease in electricity usage in the service territory .', 'billed usage decreased 1868 gwh in the industrial sector including the loss of a large industrial customer to cogeneration. .'] | ========================================
| ( in millions )
----------|----------
2002 net revenue | $ 922.9
deferred fuel cost revisions | 59.1
asset retirement obligation | 8.2
volume | -16.2 ( 16.2 )
vidalia settlement | -9.2 ( 9.2 )
other | 8.9
2003 net revenue | $ 973.7
======================================== | divide(59.1, 98.0) | 0.60306 |
what is the estimated effective tax rate applied for share-based compensation expense in 2016? | Background: ['2000 non-employee director stock option plan ( the 201cdirector stock option plan 201d ) , and the global payments inc .', '2011 incentive plan ( the 201c2011 plan 201d ) ( collectively , the 201cplans 201d ) .', 'we made no further grants under the 2000 plan after the 2005 plan was effective , and the director stock option plan expired by its terms on february 1 , 2011 .', 'we will make no future grants under the 2000 plan , the 2005 plan or the director stock option plan .', 'the 2011 plan permits grants of equity to employees , officers , directors and consultants .', 'a total of 14.0 million shares of our common stock was reserved and made available for issuance pursuant to awards granted under the 2011 plan .', 'the following table summarizes share-based compensation expense and the related income tax benefit recognized for our share-based awards and stock options ( in thousands ) : 2016 2015 2014 ( in thousands ) .']
Data Table:
----------------------------------------
• , 2016, 2015 ( in thousands ), 2014
• share-based compensation expense, $ 30809, $ 21056, $ 29793
• income tax benefit, $ 9879, $ 6907, $ 7126
----------------------------------------
Additional Information: ['we grant various share-based awards pursuant to the plans under what we refer to as our 201clong-term incentive plan . 201d the awards are held in escrow and released upon the grantee 2019s satisfaction of conditions of the award certificate .', 'restricted stock restricted stock awards vest over a period of time , provided , however , that if the grantee is not employed by us on the vesting date , the shares are forfeited .', 'restricted shares cannot be sold or transferred until they have vested .', 'restricted stock granted before fiscal 2015 vests in equal installments on each of the first four anniversaries of the grant date .', 'restricted stock granted during fiscal 2015 and thereafter either vest in equal installments on each of the first three anniversaries of the grant date or cliff vest at the end of a three-year service period .', 'the grant date fair value of restricted stock , which is based on the quoted market value of our common stock at the closing of the award date , is recognized as share-based compensation expense on a straight-line basis over the vesting period .', 'performance units certain of our executives have been granted performance units under our long-term incentive plan .', 'performance units are performance-based restricted stock units that , after a performance period , convert into common shares , which may be restricted .', 'the number of shares is dependent upon the achievement of certain performance measures during the performance period .', 'the target number of performance units and any market-based performance measures ( 201cat threshold , 201d 201ctarget , 201d and 201cmaximum 201d ) are set by the compensation committee of our board of directors .', 'performance units are converted only after the compensation committee certifies performance based on pre-established goals .', 'the performance units granted to certain executives in fiscal 2014 were based on a one-year performance period .', 'after the compensation committee certified the performance results , 25% ( 25 % ) of the performance units converted to unrestricted shares .', 'the remaining 75% ( 75 % ) converted to restricted shares that vest in equal installments on each of the first three anniversaries of the conversion date .', 'the performance units granted to certain executives during fiscal 2015 and fiscal 2016 were based on a three-year performance period .', 'after the compensation committee certifies the performance results for the three-year period , performance units earned will convert into unrestricted common stock .', 'the compensation committee may set a range of possible performance-based outcomes for performance units .', 'depending on the achievement of the performance measures , the grantee may earn up to 200% ( 200 % ) of the target number of shares .', 'for awards with only performance conditions , we recognize compensation expense on a straight-line basis over the performance period using the grant date fair value of the award , which is based on the number of shares expected to be earned according to the level of achievement of performance goals .', 'if the number of shares expected to be earned were to change at any time during the performance period , we would make a cumulative adjustment to share-based compensation expense based on the revised number of shares expected to be earned .', 'global payments inc .', '| 2016 form 10-k annual report 2013 83 .'] | 0.32065 | GPN/2016/page_83.pdf-1 | ['2000 non-employee director stock option plan ( the 201cdirector stock option plan 201d ) , and the global payments inc .', '2011 incentive plan ( the 201c2011 plan 201d ) ( collectively , the 201cplans 201d ) .', 'we made no further grants under the 2000 plan after the 2005 plan was effective , and the director stock option plan expired by its terms on february 1 , 2011 .', 'we will make no future grants under the 2000 plan , the 2005 plan or the director stock option plan .', 'the 2011 plan permits grants of equity to employees , officers , directors and consultants .', 'a total of 14.0 million shares of our common stock was reserved and made available for issuance pursuant to awards granted under the 2011 plan .', 'the following table summarizes share-based compensation expense and the related income tax benefit recognized for our share-based awards and stock options ( in thousands ) : 2016 2015 2014 ( in thousands ) .'] | ['we grant various share-based awards pursuant to the plans under what we refer to as our 201clong-term incentive plan . 201d the awards are held in escrow and released upon the grantee 2019s satisfaction of conditions of the award certificate .', 'restricted stock restricted stock awards vest over a period of time , provided , however , that if the grantee is not employed by us on the vesting date , the shares are forfeited .', 'restricted shares cannot be sold or transferred until they have vested .', 'restricted stock granted before fiscal 2015 vests in equal installments on each of the first four anniversaries of the grant date .', 'restricted stock granted during fiscal 2015 and thereafter either vest in equal installments on each of the first three anniversaries of the grant date or cliff vest at the end of a three-year service period .', 'the grant date fair value of restricted stock , which is based on the quoted market value of our common stock at the closing of the award date , is recognized as share-based compensation expense on a straight-line basis over the vesting period .', 'performance units certain of our executives have been granted performance units under our long-term incentive plan .', 'performance units are performance-based restricted stock units that , after a performance period , convert into common shares , which may be restricted .', 'the number of shares is dependent upon the achievement of certain performance measures during the performance period .', 'the target number of performance units and any market-based performance measures ( 201cat threshold , 201d 201ctarget , 201d and 201cmaximum 201d ) are set by the compensation committee of our board of directors .', 'performance units are converted only after the compensation committee certifies performance based on pre-established goals .', 'the performance units granted to certain executives in fiscal 2014 were based on a one-year performance period .', 'after the compensation committee certified the performance results , 25% ( 25 % ) of the performance units converted to unrestricted shares .', 'the remaining 75% ( 75 % ) converted to restricted shares that vest in equal installments on each of the first three anniversaries of the conversion date .', 'the performance units granted to certain executives during fiscal 2015 and fiscal 2016 were based on a three-year performance period .', 'after the compensation committee certifies the performance results for the three-year period , performance units earned will convert into unrestricted common stock .', 'the compensation committee may set a range of possible performance-based outcomes for performance units .', 'depending on the achievement of the performance measures , the grantee may earn up to 200% ( 200 % ) of the target number of shares .', 'for awards with only performance conditions , we recognize compensation expense on a straight-line basis over the performance period using the grant date fair value of the award , which is based on the number of shares expected to be earned according to the level of achievement of performance goals .', 'if the number of shares expected to be earned were to change at any time during the performance period , we would make a cumulative adjustment to share-based compensation expense based on the revised number of shares expected to be earned .', 'global payments inc .', '| 2016 form 10-k annual report 2013 83 .'] | ----------------------------------------
• , 2016, 2015 ( in thousands ), 2014
• share-based compensation expense, $ 30809, $ 21056, $ 29793
• income tax benefit, $ 9879, $ 6907, $ 7126
---------------------------------------- | divide(9879, 30809) | 0.32065 |
what portion of the total number of issues securities is approved by the security holders? | Background: ['item 12 .', 'security ownership of certain beneficial owners and management and related stockholder matters .', 'the information required by item 12 is included under the heading 201csecurity ownership of management and certain beneficial owners 201d in the 2017 proxy statement , and that information is incorporated by reference in this form 10-k .', 'equity compensation plan information the following table provides information about our equity compensation plans that authorize the issuance of shares of lockheed martin common stock to employees and directors .', 'the information is provided as of december 31 , 2016 .', 'plan category number of securities to be issued 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 ( excluding securities reflected in column ( a ) ) equity compensation plans approved by security holders ( 1 ) 5802673 $ 85.82 6216471 equity compensation plans not approved by security holders ( 2 ) 1082347 2014 2481032 .']
----------
Tabular Data:
----------------------------------------
plan category | number of securities to beissued upon exercise of outstanding options warrants and rights ( a ) | weighted-average exercise price of outstanding options warrants and rights ( b ) | number of securities remaining availablefor future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) ( c )
equity compensation plans approved by securityholders ( 1 ) | 5802673 | $ 85.82 | 6216471
equity compensation plans not approved bysecurity holders ( 2 ) | 1082347 | 2014 | 2481032
total | 6885020 | $ 85.82 | 8697503
----------------------------------------
----------
Follow-up: ['( 1 ) column ( a ) includes , as of december 31 , 2016 : 1747151 shares that have been granted as restricted stock units ( rsus ) , 936308 shares that could be earned pursuant to grants of performance stock units ( psus ) ( assuming the maximum number of psus are earned and payable at the end of the three-year performance period ) and 2967046 shares granted as options under the lockheed martin corporation 2011 incentive performance award plan ( 2011 ipa plan ) or predecessor plans prior to january 1 , 2013 and 23346 shares granted as options and 128822 stock units payable in stock or cash under the lockheed martin corporation 2009 directors equity plan ( directors equity plan ) or predecessor plans for members ( or former members ) of the board of directors .', 'column ( c ) includes , as of december 31 , 2016 , 5751655 shares available for future issuance under the 2011 ipa plan as options , stock appreciation rights ( sars ) , restricted stock awards ( rsas ) , rsus or psus and 464816 shares available for future issuance under the directors equity plan as stock options and stock units .', 'of the 5751655 shares available for grant under the 2011 ipa plan on december 31 , 2016 , 516653 and 236654 shares are issuable pursuant to grants made on january 26 , 2017 , of rsus and psus ( assuming the maximum number of psus are earned and payable at the end of the three-year performance period ) , respectively .', 'the weighted average price does not take into account shares issued pursuant to rsus or psus .', '( 2 ) the shares represent annual incentive bonuses and long-term incentive performance ( ltip ) payments earned and voluntarily deferred by employees .', 'the deferred amounts are payable under the deferred management incentive compensation plan ( dmicp ) .', 'deferred amounts are credited as phantom stock units at the closing price of our stock on the date the deferral is effective .', 'amounts equal to our dividend are credited as stock units at the time we pay a dividend .', 'following termination of employment , a number of shares of stock equal to the number of stock units credited to the employee 2019s dmicp account are distributed to the employee .', 'there is no discount or value transfer on the stock distributed .', 'distributions may be made from newly issued shares or shares purchased on the open market .', 'historically , all distributions have come from shares held in a separate trust and , therefore , do not further dilute our common shares outstanding .', 'as a result , these shares also were not considered in calculating the total weighted average exercise price in the table .', 'because the dmicp shares are outstanding , they should be included in the denominator ( and not the numerator ) of a dilution calculation .', 'item 13 .', 'certain relationships and related transactions and director independence .', 'the information required by this item 13 is included under the captions 201ccorporate governance 2013 related person transaction policy , 201d 201ccorporate governance 2013 certain relationships and related person transactions of directors , executive officers , and 5 percent stockholders , 201d and 201ccorporate governance 2013 director independence 201d in the 2017 proxy statement , and that information is incorporated by reference in this form 10-k .', 'item 14 .', 'principal accountant fees and services .', 'the information required by this item 14 is included under the caption 201cproposal 2 2013 ratification of appointment of independent auditors 201d in the 2017 proxy statement , and that information is incorporated by reference in this form 10-k. .'] | 0.8428 | LMT/2016/page_117.pdf-1 | ['item 12 .', 'security ownership of certain beneficial owners and management and related stockholder matters .', 'the information required by item 12 is included under the heading 201csecurity ownership of management and certain beneficial owners 201d in the 2017 proxy statement , and that information is incorporated by reference in this form 10-k .', 'equity compensation plan information the following table provides information about our equity compensation plans that authorize the issuance of shares of lockheed martin common stock to employees and directors .', 'the information is provided as of december 31 , 2016 .', 'plan category number of securities to be issued 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 ( excluding securities reflected in column ( a ) ) equity compensation plans approved by security holders ( 1 ) 5802673 $ 85.82 6216471 equity compensation plans not approved by security holders ( 2 ) 1082347 2014 2481032 .'] | ['( 1 ) column ( a ) includes , as of december 31 , 2016 : 1747151 shares that have been granted as restricted stock units ( rsus ) , 936308 shares that could be earned pursuant to grants of performance stock units ( psus ) ( assuming the maximum number of psus are earned and payable at the end of the three-year performance period ) and 2967046 shares granted as options under the lockheed martin corporation 2011 incentive performance award plan ( 2011 ipa plan ) or predecessor plans prior to january 1 , 2013 and 23346 shares granted as options and 128822 stock units payable in stock or cash under the lockheed martin corporation 2009 directors equity plan ( directors equity plan ) or predecessor plans for members ( or former members ) of the board of directors .', 'column ( c ) includes , as of december 31 , 2016 , 5751655 shares available for future issuance under the 2011 ipa plan as options , stock appreciation rights ( sars ) , restricted stock awards ( rsas ) , rsus or psus and 464816 shares available for future issuance under the directors equity plan as stock options and stock units .', 'of the 5751655 shares available for grant under the 2011 ipa plan on december 31 , 2016 , 516653 and 236654 shares are issuable pursuant to grants made on january 26 , 2017 , of rsus and psus ( assuming the maximum number of psus are earned and payable at the end of the three-year performance period ) , respectively .', 'the weighted average price does not take into account shares issued pursuant to rsus or psus .', '( 2 ) the shares represent annual incentive bonuses and long-term incentive performance ( ltip ) payments earned and voluntarily deferred by employees .', 'the deferred amounts are payable under the deferred management incentive compensation plan ( dmicp ) .', 'deferred amounts are credited as phantom stock units at the closing price of our stock on the date the deferral is effective .', 'amounts equal to our dividend are credited as stock units at the time we pay a dividend .', 'following termination of employment , a number of shares of stock equal to the number of stock units credited to the employee 2019s dmicp account are distributed to the employee .', 'there is no discount or value transfer on the stock distributed .', 'distributions may be made from newly issued shares or shares purchased on the open market .', 'historically , all distributions have come from shares held in a separate trust and , therefore , do not further dilute our common shares outstanding .', 'as a result , these shares also were not considered in calculating the total weighted average exercise price in the table .', 'because the dmicp shares are outstanding , they should be included in the denominator ( and not the numerator ) of a dilution calculation .', 'item 13 .', 'certain relationships and related transactions and director independence .', 'the information required by this item 13 is included under the captions 201ccorporate governance 2013 related person transaction policy , 201d 201ccorporate governance 2013 certain relationships and related person transactions of directors , executive officers , and 5 percent stockholders , 201d and 201ccorporate governance 2013 director independence 201d in the 2017 proxy statement , and that information is incorporated by reference in this form 10-k .', 'item 14 .', 'principal accountant fees and services .', 'the information required by this item 14 is included under the caption 201cproposal 2 2013 ratification of appointment of independent auditors 201d in the 2017 proxy statement , and that information is incorporated by reference in this form 10-k. .'] | ----------------------------------------
plan category | number of securities to beissued upon exercise of outstanding options warrants and rights ( a ) | weighted-average exercise price of outstanding options warrants and rights ( b ) | number of securities remaining availablefor future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) ( c )
equity compensation plans approved by securityholders ( 1 ) | 5802673 | $ 85.82 | 6216471
equity compensation plans not approved bysecurity holders ( 2 ) | 1082347 | 2014 | 2481032
total | 6885020 | $ 85.82 | 8697503
---------------------------------------- | divide(5802673, 6885020) | 0.8428 |
considering the years 2013 and 2014 , what is the basis point variation observed in the operating margin? | Context: ['reinsurance commissions , fees and other revenue decreased 2% ( 2 % ) in 2014 reflecting a 1% ( 1 % ) unfavorable impact from foreign currency exchange rates and 1% ( 1 % ) decline in organic revenue growth due primarily to a significant unfavorable market impact in treaty , partially offset by net new business growth in treaty placements globally and growth in capital markets transactions and advisory business , as well as facultative placements .', 'operating income operating income increased $ 108 million , or 7% ( 7 % ) , from 2013 to $ 1.6 billion in 2014 .', 'in 2014 , operating income margins in this segment were 21.0% ( 21.0 % ) , an increase of 120 basis points from 19.8% ( 19.8 % ) in 2013 .', 'operating margin improvement was driven by solid organic revenue growth , return on investments , expense discipline and savings related to the restructuring programs , partially offset by a $ 61 million unfavorable impact from foreign currency exchange rates .', 'hr solutions .']
Table:
****************************************
• years ended december 31, 2014, 2013, 2012
• revenue, $ 4264, $ 4057, $ 3925
• operating income, 485, 318, 289
• operating margin, 11.4% ( 11.4 % ), 7.8% ( 7.8 % ), 7.4% ( 7.4 % )
****************************************
Follow-up: ['our hr solutions segment generated approximately 35% ( 35 % ) of our consolidated total revenues in 2014 and provides a broad range of human capital services , as follows : 2022 retirement specializes in global actuarial services , defined contribution consulting , tax and erisa consulting , and pension administration .', '2022 compensation focuses on compensatory advisory/counsel including : compensation planning design , executive reward strategies , salary survey and benchmarking , market share studies and sales force effectiveness , with special expertise in the financial services and technology industries .', '2022 strategic human capital delivers advice to complex global organizations on talent , change and organizational effectiveness issues , including talent strategy and acquisition , executive on-boarding , performance management , leadership assessment and development , communication strategy , workforce training and change management .', '2022 investment consulting advises public and private companies , other institutions and trustees on developing and maintaining investment programs across a broad range of plan types , including defined benefit plans , defined contribution plans , endowments and foundations .', '2022 benefits administration applies our human resource expertise primarily through defined benefit ( pension ) , defined contribution ( 401 ( k ) ) , and health and welfare administrative services .', 'our model replaces the resource-intensive processes once required to administer benefit plans with more efficient , effective , and less costly solutions .', '2022 exchanges is building and operating healthcare exchanges that provide employers with a cost effective alternative to traditional employee and retiree healthcare , while helping individuals select the insurance that best meets their needs .', '2022 human resource business processing outsourcing provides market-leading solutions to manage employee data ; administer benefits , payroll and other human resources processes ; and record and manage talent , workforce and other core human resource process transactions as well as other complementary services such as flexible spending , dependent audit and participant advocacy .', 'disruption in the global credit markets and the deterioration of the financial markets created significant uncertainty in the marketplace .', "weak economic conditions in many markets around the globe continued throughout 2014 and have adversely impacted our clients' financial condition and therefore the levels of business activities in the industries and geographies where we operate .", 'while we believe that the majority of our practices are well positioned to manage through this time , these challenges are reducing demand for some of our services and putting continued pressure on the pricing of those services , which is having an adverse effect on our new business and results of operations. .'] | 3.6 | AON/2014/page_47.pdf-2 | ['reinsurance commissions , fees and other revenue decreased 2% ( 2 % ) in 2014 reflecting a 1% ( 1 % ) unfavorable impact from foreign currency exchange rates and 1% ( 1 % ) decline in organic revenue growth due primarily to a significant unfavorable market impact in treaty , partially offset by net new business growth in treaty placements globally and growth in capital markets transactions and advisory business , as well as facultative placements .', 'operating income operating income increased $ 108 million , or 7% ( 7 % ) , from 2013 to $ 1.6 billion in 2014 .', 'in 2014 , operating income margins in this segment were 21.0% ( 21.0 % ) , an increase of 120 basis points from 19.8% ( 19.8 % ) in 2013 .', 'operating margin improvement was driven by solid organic revenue growth , return on investments , expense discipline and savings related to the restructuring programs , partially offset by a $ 61 million unfavorable impact from foreign currency exchange rates .', 'hr solutions .'] | ['our hr solutions segment generated approximately 35% ( 35 % ) of our consolidated total revenues in 2014 and provides a broad range of human capital services , as follows : 2022 retirement specializes in global actuarial services , defined contribution consulting , tax and erisa consulting , and pension administration .', '2022 compensation focuses on compensatory advisory/counsel including : compensation planning design , executive reward strategies , salary survey and benchmarking , market share studies and sales force effectiveness , with special expertise in the financial services and technology industries .', '2022 strategic human capital delivers advice to complex global organizations on talent , change and organizational effectiveness issues , including talent strategy and acquisition , executive on-boarding , performance management , leadership assessment and development , communication strategy , workforce training and change management .', '2022 investment consulting advises public and private companies , other institutions and trustees on developing and maintaining investment programs across a broad range of plan types , including defined benefit plans , defined contribution plans , endowments and foundations .', '2022 benefits administration applies our human resource expertise primarily through defined benefit ( pension ) , defined contribution ( 401 ( k ) ) , and health and welfare administrative services .', 'our model replaces the resource-intensive processes once required to administer benefit plans with more efficient , effective , and less costly solutions .', '2022 exchanges is building and operating healthcare exchanges that provide employers with a cost effective alternative to traditional employee and retiree healthcare , while helping individuals select the insurance that best meets their needs .', '2022 human resource business processing outsourcing provides market-leading solutions to manage employee data ; administer benefits , payroll and other human resources processes ; and record and manage talent , workforce and other core human resource process transactions as well as other complementary services such as flexible spending , dependent audit and participant advocacy .', 'disruption in the global credit markets and the deterioration of the financial markets created significant uncertainty in the marketplace .', "weak economic conditions in many markets around the globe continued throughout 2014 and have adversely impacted our clients' financial condition and therefore the levels of business activities in the industries and geographies where we operate .", 'while we believe that the majority of our practices are well positioned to manage through this time , these challenges are reducing demand for some of our services and putting continued pressure on the pricing of those services , which is having an adverse effect on our new business and results of operations. .'] | ****************************************
• years ended december 31, 2014, 2013, 2012
• revenue, $ 4264, $ 4057, $ 3925
• operating income, 485, 318, 289
• operating margin, 11.4% ( 11.4 % ), 7.8% ( 7.8 % ), 7.4% ( 7.4 % )
**************************************** | subtract(11.4%, 7.8%), multiply(#0, const_100) | 3.6 |
what was the ratio of the lease obligations to purchase obligations | Context: ['at december 31 , 2013 , total future minimum commitments under existing non-cancelable operating leases and purchase obligations were as follows: .']
Data Table:
****************************************
• in millions, 2014, 2015, 2016, 2017, 2018, thereafter
• lease obligations, $ 171, $ 133, $ 97, $ 74, $ 59, $ 162
• purchase obligations ( a ), 3170, 770, 642, 529, 453, 2404
• total, $ 3341, $ 903, $ 739, $ 603, $ 512, $ 2566
****************************************
Additional Information: ['( a ) includes $ 3.3 billion relating to fiber supply agreements entered into at the time of the company 2019s 2006 transformation plan forestland sales and in conjunction with the 2008 acquisition of weyerhaeuser company 2019s containerboard , packaging and recycling business .', 'rent expense was $ 215 million , $ 231 million and $ 205 million for 2013 , 2012 and 2011 , respectively .', 'guarantees in connection with sales of businesses , property , equipment , forestlands and other assets , international paper commonly makes representations and warranties relating to such businesses or assets , and may agree to indemnify buyers with respect to tax and environmental liabilities , breaches of representations and warranties , and other matters .', 'where liabilities for such matters are determined to be probable and subject to reasonable estimation , accrued liabilities are recorded at the time of sale as a cost of the transaction .', 'environmental proceedings international paper has been named as a potentially responsible party in environmental remediation actions under various federal and state laws , including the comprehensive environmental response , compensation and liability act ( cercla ) .', 'many of these proceedings involve the cleanup of hazardous substances at large commercial landfills that received waste from many different sources .', 'while joint and several liability is authorized under cercla and equivalent state laws , as a practical matter , liability for cercla cleanups is typically allocated among the many potential responsible parties .', 'remedial costs are recorded in the consolidated financial statements when they become probable and reasonably estimable .', 'international paper has estimated the probable liability associated with these matters to be approximately $ 94 million in the aggregate at december 31 , 2013 .', 'cass lake : one of the matters referenced above is a closed wood treating facility located in cass lake , minnesota .', 'during 2009 , in connection with an environmental site remediation action under cercla , international paper submitted to the epa a site remediation feasibility study .', 'in june 2011 , the epa selected and published a proposed soil remedy at the site with an estimated cost of $ 46 million .', 'the overall remediation reserve for the site is currently $ 51 million to address this selection of an alternative for the soil remediation component of the overall site remedy .', 'in october 2011 , the epa released a public statement indicating that the final soil remedy decision would be delayed .', 'in the unlikely event that the epa changes its proposed soil remedy and approves instead a more expensive clean-up alternative , the remediation costs could be material , and significantly higher than amounts currently recorded .', 'in october 2012 , the natural resource trustees for this site provided notice to international paper and other potentially responsible parties of their intent to perform a natural resource damage assessment .', 'it is premature to predict the outcome of the assessment or to estimate a loss or range of loss , if any , which may be incurred .', 'other : in addition to the above matters , other remediation costs typically associated with the cleanup of hazardous substances at the company 2019s current , closed or formerly-owned facilities , and recorded as liabilities in the balance sheet , totaled approximately $ 42 million at december 31 , 2013 .', 'other than as described above , completion of required remedial actions is not expected to have a material effect on our consolidated financial statements .', 'kalamazoo river : the company is a potentially responsible party with respect to the allied paper , inc./ portage creek/kalamazoo river superfund site ( kalamazoo river superfund site ) in michigan .', 'the epa asserts that the site is contaminated primarily by pcbs as a result of discharges from various paper mills located along the kalamazoo river , including a paper mill formerly owned by st .', 'regis paper company ( st .', 'regis ) .', 'the company is a successor in interest to st .', 'regis .', 'the company has not received any orders from the epa with respect to the site and continues to collect information from the epa and other parties relative to the site to evaluate the extent of its liability , if any , with respect to the site .', 'accordingly , it is premature to estimate a loss or range of loss with respect to this site .', 'also in connection with the kalamazoo river superfund site , the company was named as a defendant by georgia-pacific consumer products lp , fort james corporation and georgia pacific llc in a contribution and cost recovery action for alleged pollution at the site .', 'the suit seeks contribution under cercla for $ 79 million in costs purportedly expended by plaintiffs as of the filing of the complaint and for future remediation costs .', 'the suit alleges that a mill , during the time it was allegedly owned and operated by st .', 'regis , discharged pcb contaminated solids and paper residuals resulting from paper de-inking and recycling .', 'also named as defendants in the suit are ncr corporation and weyerhaeuser company .', 'in mid-2011 , the suit was transferred from the district court for the eastern district of wisconsin to the district court for the western .'] | 0.13024 | IP/2013/page_101.pdf-4 | ['at december 31 , 2013 , total future minimum commitments under existing non-cancelable operating leases and purchase obligations were as follows: .'] | ['( a ) includes $ 3.3 billion relating to fiber supply agreements entered into at the time of the company 2019s 2006 transformation plan forestland sales and in conjunction with the 2008 acquisition of weyerhaeuser company 2019s containerboard , packaging and recycling business .', 'rent expense was $ 215 million , $ 231 million and $ 205 million for 2013 , 2012 and 2011 , respectively .', 'guarantees in connection with sales of businesses , property , equipment , forestlands and other assets , international paper commonly makes representations and warranties relating to such businesses or assets , and may agree to indemnify buyers with respect to tax and environmental liabilities , breaches of representations and warranties , and other matters .', 'where liabilities for such matters are determined to be probable and subject to reasonable estimation , accrued liabilities are recorded at the time of sale as a cost of the transaction .', 'environmental proceedings international paper has been named as a potentially responsible party in environmental remediation actions under various federal and state laws , including the comprehensive environmental response , compensation and liability act ( cercla ) .', 'many of these proceedings involve the cleanup of hazardous substances at large commercial landfills that received waste from many different sources .', 'while joint and several liability is authorized under cercla and equivalent state laws , as a practical matter , liability for cercla cleanups is typically allocated among the many potential responsible parties .', 'remedial costs are recorded in the consolidated financial statements when they become probable and reasonably estimable .', 'international paper has estimated the probable liability associated with these matters to be approximately $ 94 million in the aggregate at december 31 , 2013 .', 'cass lake : one of the matters referenced above is a closed wood treating facility located in cass lake , minnesota .', 'during 2009 , in connection with an environmental site remediation action under cercla , international paper submitted to the epa a site remediation feasibility study .', 'in june 2011 , the epa selected and published a proposed soil remedy at the site with an estimated cost of $ 46 million .', 'the overall remediation reserve for the site is currently $ 51 million to address this selection of an alternative for the soil remediation component of the overall site remedy .', 'in october 2011 , the epa released a public statement indicating that the final soil remedy decision would be delayed .', 'in the unlikely event that the epa changes its proposed soil remedy and approves instead a more expensive clean-up alternative , the remediation costs could be material , and significantly higher than amounts currently recorded .', 'in october 2012 , the natural resource trustees for this site provided notice to international paper and other potentially responsible parties of their intent to perform a natural resource damage assessment .', 'it is premature to predict the outcome of the assessment or to estimate a loss or range of loss , if any , which may be incurred .', 'other : in addition to the above matters , other remediation costs typically associated with the cleanup of hazardous substances at the company 2019s current , closed or formerly-owned facilities , and recorded as liabilities in the balance sheet , totaled approximately $ 42 million at december 31 , 2013 .', 'other than as described above , completion of required remedial actions is not expected to have a material effect on our consolidated financial statements .', 'kalamazoo river : the company is a potentially responsible party with respect to the allied paper , inc./ portage creek/kalamazoo river superfund site ( kalamazoo river superfund site ) in michigan .', 'the epa asserts that the site is contaminated primarily by pcbs as a result of discharges from various paper mills located along the kalamazoo river , including a paper mill formerly owned by st .', 'regis paper company ( st .', 'regis ) .', 'the company is a successor in interest to st .', 'regis .', 'the company has not received any orders from the epa with respect to the site and continues to collect information from the epa and other parties relative to the site to evaluate the extent of its liability , if any , with respect to the site .', 'accordingly , it is premature to estimate a loss or range of loss with respect to this site .', 'also in connection with the kalamazoo river superfund site , the company was named as a defendant by georgia-pacific consumer products lp , fort james corporation and georgia pacific llc in a contribution and cost recovery action for alleged pollution at the site .', 'the suit seeks contribution under cercla for $ 79 million in costs purportedly expended by plaintiffs as of the filing of the complaint and for future remediation costs .', 'the suit alleges that a mill , during the time it was allegedly owned and operated by st .', 'regis , discharged pcb contaminated solids and paper residuals resulting from paper de-inking and recycling .', 'also named as defendants in the suit are ncr corporation and weyerhaeuser company .', 'in mid-2011 , the suit was transferred from the district court for the eastern district of wisconsin to the district court for the western .'] | ****************************************
• in millions, 2014, 2015, 2016, 2017, 2018, thereafter
• lease obligations, $ 171, $ 133, $ 97, $ 74, $ 59, $ 162
• purchase obligations ( a ), 3170, 770, 642, 529, 453, 2404
• total, $ 3341, $ 903, $ 739, $ 603, $ 512, $ 2566
**************************************** | divide(59, 453) | 0.13024 |
what is the ratio of the call center to the switching centers in square feet | Context: ['does not believe are in our and our stockholders 2019 best interest .', 'the rights plan is intended to protect stockholders in the event of an unfair or coercive offer to acquire the company and to provide our board of directors with adequate time to evaluate unsolicited offers .', 'the rights plan may prevent or make takeovers or unsolicited corporate transactions with respect to our company more difficult , even if stockholders may consider such transactions favorable , possibly including transactions in which stockholders might otherwise receive a premium for their shares .', 'item 1b .', 'unresolved staff comments item 2 .', 'properties as of december 31 , 2016 , our significant properties used in connection with switching centers , data centers , call centers and warehouses were as follows: .']
Table:
========================================
Row 1: , approximate number, approximate size in square feet
Row 2: switching centers, 57, 1400000
Row 3: data centers, 8, 600000
Row 4: call center, 16, 1300000
Row 5: warehouses, 16, 500000
========================================
Additional Information: ['as of december 31 , 2016 , we leased approximately 60000 cell sites .', 'as of december 31 , 2016 , we leased approximately 2000 t-mobile and metropcs retail locations , including stores and kiosks ranging in size from approximately 100 square feet to 17000 square feet .', 'we currently lease office space totaling approximately 950000 square feet for our corporate headquarters in bellevue , washington .', 'we use these offices for engineering and administrative purposes .', 'we also lease space throughout the u.s. , totaling approximately 1200000 square feet as of december 31 , 2016 , for use by our regional offices primarily for administrative , engineering and sales purposes .', 'item 3 .', 'legal proceedings see note 12 2013 commitments and contingencies of the notes to the consolidated financial statements included in part ii , item 8 of this form 10-k for information regarding certain legal proceedings in which we are involved .', 'item 4 .', 'mine safety disclosures part ii .', 'item 5 .', 'market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities market information our common stock is traded on the nasdaq global select market of the nasdaq stock market llc ( 201cnasdaq 201d ) under the symbol 201ctmus . 201d as of december 31 , 2016 , there were 309 registered stockholders of record of our common stock , but we estimate the total number of stockholders to be much higher as a number of our shares are held by brokers or dealers for their customers in street name. .'] | 0.92857 | TMUS/2016/page_32.pdf-3 | ['does not believe are in our and our stockholders 2019 best interest .', 'the rights plan is intended to protect stockholders in the event of an unfair or coercive offer to acquire the company and to provide our board of directors with adequate time to evaluate unsolicited offers .', 'the rights plan may prevent or make takeovers or unsolicited corporate transactions with respect to our company more difficult , even if stockholders may consider such transactions favorable , possibly including transactions in which stockholders might otherwise receive a premium for their shares .', 'item 1b .', 'unresolved staff comments item 2 .', 'properties as of december 31 , 2016 , our significant properties used in connection with switching centers , data centers , call centers and warehouses were as follows: .'] | ['as of december 31 , 2016 , we leased approximately 60000 cell sites .', 'as of december 31 , 2016 , we leased approximately 2000 t-mobile and metropcs retail locations , including stores and kiosks ranging in size from approximately 100 square feet to 17000 square feet .', 'we currently lease office space totaling approximately 950000 square feet for our corporate headquarters in bellevue , washington .', 'we use these offices for engineering and administrative purposes .', 'we also lease space throughout the u.s. , totaling approximately 1200000 square feet as of december 31 , 2016 , for use by our regional offices primarily for administrative , engineering and sales purposes .', 'item 3 .', 'legal proceedings see note 12 2013 commitments and contingencies of the notes to the consolidated financial statements included in part ii , item 8 of this form 10-k for information regarding certain legal proceedings in which we are involved .', 'item 4 .', 'mine safety disclosures part ii .', 'item 5 .', 'market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities market information our common stock is traded on the nasdaq global select market of the nasdaq stock market llc ( 201cnasdaq 201d ) under the symbol 201ctmus . 201d as of december 31 , 2016 , there were 309 registered stockholders of record of our common stock , but we estimate the total number of stockholders to be much higher as a number of our shares are held by brokers or dealers for their customers in street name. .'] | ========================================
Row 1: , approximate number, approximate size in square feet
Row 2: switching centers, 57, 1400000
Row 3: data centers, 8, 600000
Row 4: call center, 16, 1300000
Row 5: warehouses, 16, 500000
======================================== | divide(1300000, 1400000) | 0.92857 |
what is the percent of the purchased loans accounted for under the level-yield method included in the carrying amount of loan receivable net of purchased loans accounted for under the under the cost-recovery method | Background: ['in addition , included in the loan table are purchased distressed loans , which are loans that have evidenced significant credit deterioration subsequent to origination but prior to acquisition by citigroup .', 'in accordance with sop 03-3 , the difference between the total expected cash flows for these loans and the initial recorded investments is recognized in income over the life of the loans using a level yield .', 'accordingly , these loans have been excluded from the impaired loan information presented above .', 'in addition , per sop 03-3 , subsequent decreases to the expected cash flows for a purchased distressed loan require a build of an allowance so the loan retains its level yield .', 'however , increases in the expected cash flows are first recognized as a reduction of any previously established allowance and then recognized as income prospectively over the remaining life of the loan by increasing the loan 2019s level yield .', 'where the expected cash flows cannot be reliably estimated , the purchased distressed loan is accounted for under the cost recovery method .', 'the carrying amount of the purchased distressed loan portfolio at december 31 , 2009 was $ 825 million net of an allowance of $ 95 million .', 'the changes in the accretable yield , related allowance and carrying amount net of accretable yield for 2009 are as follows : in millions of dollars accretable carrying amount of loan receivable allowance .']
########
Data Table:
========================================
Row 1: in millions of dollars, accretable yield, carrying amount of loan receivable, allowance
Row 2: beginning balance, $ 92, $ 1510, $ 122
Row 3: purchases ( 1 ), 14, 329, 2014
Row 4: disposals/payments received, -5 ( 5 ), -967 ( 967 ), 2014
Row 5: accretion, -52 ( 52 ), 52, 2014
Row 6: builds ( reductions ) to the allowance, -21 ( 21 ), 1, -27 ( 27 )
Row 7: increase to expected cash flows, 10, 2, 2014
Row 8: fx/other, -11 ( 11 ), -7 ( 7 ), 2014
Row 9: balance december 31 2009 ( 2 ), $ 27, $ 920, $ 95
========================================
########
Follow-up: ['( 1 ) the balance reported in the column 201ccarrying amount of loan receivable 201d consists of $ 87 million of purchased loans accounted for under the level-yield method and $ 242 million under the cost-recovery method .', 'these balances represent the fair value of these loans at their acquisition date .', 'the related total expected cash flows for the level-yield loans were $ 101 million at their acquisition dates .', '( 2 ) the balance reported in the column 201ccarrying amount of loan receivable 201d consists of $ 561 million of loans accounted for under the level-yield method and $ 359 million accounted for under the cost-recovery method. .'] | 0.12832 | C/2009/page_194.pdf-3 | ['in addition , included in the loan table are purchased distressed loans , which are loans that have evidenced significant credit deterioration subsequent to origination but prior to acquisition by citigroup .', 'in accordance with sop 03-3 , the difference between the total expected cash flows for these loans and the initial recorded investments is recognized in income over the life of the loans using a level yield .', 'accordingly , these loans have been excluded from the impaired loan information presented above .', 'in addition , per sop 03-3 , subsequent decreases to the expected cash flows for a purchased distressed loan require a build of an allowance so the loan retains its level yield .', 'however , increases in the expected cash flows are first recognized as a reduction of any previously established allowance and then recognized as income prospectively over the remaining life of the loan by increasing the loan 2019s level yield .', 'where the expected cash flows cannot be reliably estimated , the purchased distressed loan is accounted for under the cost recovery method .', 'the carrying amount of the purchased distressed loan portfolio at december 31 , 2009 was $ 825 million net of an allowance of $ 95 million .', 'the changes in the accretable yield , related allowance and carrying amount net of accretable yield for 2009 are as follows : in millions of dollars accretable carrying amount of loan receivable allowance .'] | ['( 1 ) the balance reported in the column 201ccarrying amount of loan receivable 201d consists of $ 87 million of purchased loans accounted for under the level-yield method and $ 242 million under the cost-recovery method .', 'these balances represent the fair value of these loans at their acquisition date .', 'the related total expected cash flows for the level-yield loans were $ 101 million at their acquisition dates .', '( 2 ) the balance reported in the column 201ccarrying amount of loan receivable 201d consists of $ 561 million of loans accounted for under the level-yield method and $ 359 million accounted for under the cost-recovery method. .'] | ========================================
Row 1: in millions of dollars, accretable yield, carrying amount of loan receivable, allowance
Row 2: beginning balance, $ 92, $ 1510, $ 122
Row 3: purchases ( 1 ), 14, 329, 2014
Row 4: disposals/payments received, -5 ( 5 ), -967 ( 967 ), 2014
Row 5: accretion, -52 ( 52 ), 52, 2014
Row 6: builds ( reductions ) to the allowance, -21 ( 21 ), 1, -27 ( 27 )
Row 7: increase to expected cash flows, 10, 2, 2014
Row 8: fx/other, -11 ( 11 ), -7 ( 7 ), 2014
Row 9: balance december 31 2009 ( 2 ), $ 27, $ 920, $ 95
======================================== | subtract(920, 242), divide(87, #0) | 0.12832 |
was the change in asset impairment charges between 2014 and 2013 in us$ m? | Context: ['american tower corporation and subsidiaries notes to consolidated financial statements assessments of expected future cash flows over the period in which the obligation is expected to be settled and applies a discount factor that captures the uncertainties associated with the obligation .', 'changes in these unobservable inputs could significantly impact the fair value of the liabilities recorded in the accompanying consolidated balance sheets and adjustments recorded in the consolidated statements of operations .', 'as of december 31 , 2014 , the company estimates that the value of all potential acquisition-related contingent consideration required payments to be between zero and $ 40.4 million .', 'during the years ended december 31 , 2014 and 2013 , the fair value of the contingent consideration changed as follows ( in thousands ) : .']
--------
Tabular Data:
****************************************
, 2014, 2013
balance as of january 1, $ 31890, $ 23711
additions, 6412, 13474
settlements, -3889 ( 3889 ), -8789 ( 8789 )
change in fair value, -225 ( 225 ), 5743
foreign currency translation adjustment, -4934 ( 4934 ), -2249 ( 2249 )
other ( 1 ), -730 ( 730 ), 2014
balance as of december 31, $ 28524, $ 31890
****************************************
--------
Additional Information: ['( 1 ) in connection with the sale of operations in panama , the buyer assumed the company 2019s potential obligations related to additional purchase price consideration .', 'items measured at fair value on a nonrecurring basis assets held and used 2014the company 2019s long-lived assets are measured at fair value on a nonrecurring basis using level 3 inputs .', 'during the year ended december 31 , 2014 , certain long-lived assets held and used with a carrying value of $ 8900.0 million were written down to their net realizable value of $ 8888.8 million as a result of an asset impairment charge of $ 11.2 million .', 'during the year ended december 31 , 2013 , certain long-lived assets held and used with a carrying value of $ 8554.5 million were written down to their net realizable value of $ 8538.6 million , as a result of an asset impairment charge of $ 15.9 million .', 'the asset impairment charges are recorded in other operating expenses in the accompanying consolidated statements of operations .', 'these adjustments were determined by comparing the estimated proceeds from the sale of assets or the estimated fair value utilizing projected future discounted cash flows to be provided from the long-lived assets to the asset 2019s carrying value .', 'during the year ended december 31 , 2014 , nii , a u.s .', 'corporation , filed for chapter 11 bankruptcy protection on behalf of itself and certain of its subsidiaries .', 'nii is the ultimate parent company of certain operating subsidiaries in brazil , chile and mexico that collectively represent approximately 6% ( 6 % ) of the company 2019s consolidated revenues for the year ended december 31 , 2014 .', 'none of these subsidiaries were included in nii 2019s chapter 11 filing .', 'the company 2019s assessment of the impact of the proceedings did not identify any indicators of impairment as of december 31 , 2014 .', 'sale of assets 2014during the year ended december 31 , 2014 , the company completed the sale of its operations in panama and its third-party structural analysis business for an aggregate sale price of $ 17.9 million , plus a working capital adjustment .', 'at the time of sale , the carrying amount of these assets primarily included $ 8.1 million of property and equipment , $ 7.8 million of intangible assets and $ 3.6 million of goodwill .', 'the company recorded a net charge of $ 2.2 million in other operating expenses in the accompanying consolidated statements of operations .', 'there were no other items measured at fair value on a nonrecurring basis during the year ended december 31 .'] | -4.7 | AMT/2014/page_149.pdf-1 | ['american tower corporation and subsidiaries notes to consolidated financial statements assessments of expected future cash flows over the period in which the obligation is expected to be settled and applies a discount factor that captures the uncertainties associated with the obligation .', 'changes in these unobservable inputs could significantly impact the fair value of the liabilities recorded in the accompanying consolidated balance sheets and adjustments recorded in the consolidated statements of operations .', 'as of december 31 , 2014 , the company estimates that the value of all potential acquisition-related contingent consideration required payments to be between zero and $ 40.4 million .', 'during the years ended december 31 , 2014 and 2013 , the fair value of the contingent consideration changed as follows ( in thousands ) : .'] | ['( 1 ) in connection with the sale of operations in panama , the buyer assumed the company 2019s potential obligations related to additional purchase price consideration .', 'items measured at fair value on a nonrecurring basis assets held and used 2014the company 2019s long-lived assets are measured at fair value on a nonrecurring basis using level 3 inputs .', 'during the year ended december 31 , 2014 , certain long-lived assets held and used with a carrying value of $ 8900.0 million were written down to their net realizable value of $ 8888.8 million as a result of an asset impairment charge of $ 11.2 million .', 'during the year ended december 31 , 2013 , certain long-lived assets held and used with a carrying value of $ 8554.5 million were written down to their net realizable value of $ 8538.6 million , as a result of an asset impairment charge of $ 15.9 million .', 'the asset impairment charges are recorded in other operating expenses in the accompanying consolidated statements of operations .', 'these adjustments were determined by comparing the estimated proceeds from the sale of assets or the estimated fair value utilizing projected future discounted cash flows to be provided from the long-lived assets to the asset 2019s carrying value .', 'during the year ended december 31 , 2014 , nii , a u.s .', 'corporation , filed for chapter 11 bankruptcy protection on behalf of itself and certain of its subsidiaries .', 'nii is the ultimate parent company of certain operating subsidiaries in brazil , chile and mexico that collectively represent approximately 6% ( 6 % ) of the company 2019s consolidated revenues for the year ended december 31 , 2014 .', 'none of these subsidiaries were included in nii 2019s chapter 11 filing .', 'the company 2019s assessment of the impact of the proceedings did not identify any indicators of impairment as of december 31 , 2014 .', 'sale of assets 2014during the year ended december 31 , 2014 , the company completed the sale of its operations in panama and its third-party structural analysis business for an aggregate sale price of $ 17.9 million , plus a working capital adjustment .', 'at the time of sale , the carrying amount of these assets primarily included $ 8.1 million of property and equipment , $ 7.8 million of intangible assets and $ 3.6 million of goodwill .', 'the company recorded a net charge of $ 2.2 million in other operating expenses in the accompanying consolidated statements of operations .', 'there were no other items measured at fair value on a nonrecurring basis during the year ended december 31 .'] | ****************************************
, 2014, 2013
balance as of january 1, $ 31890, $ 23711
additions, 6412, 13474
settlements, -3889 ( 3889 ), -8789 ( 8789 )
change in fair value, -225 ( 225 ), 5743
foreign currency translation adjustment, -4934 ( 4934 ), -2249 ( 2249 )
other ( 1 ), -730 ( 730 ), 2014
balance as of december 31, $ 28524, $ 31890
**************************************** | subtract(11.2, 15.9) | -4.7 |
what was the increase in total minimum lease payments between 2006 and 2007 in millions? | Pre-text: ['leases , was $ 92 million , $ 80 million , and $ 72 million in 2002 , 2001 , and 2000 , respectively .', 'future minimum lease payments under noncancelable operating leases having remaining terms in excess of one year as of september 28 , 2002 , are as follows ( in millions ) : concentrations in the available sources of supply of materials and product although certain components essential to the company\'s business are generally available from multiple sources , other key components ( including microprocessors and application-specific integrated circuits , or ( "asics" ) ) are currently obtained by the company from single or limited sources .', 'some other key components , while currently available to the company from multiple sources , are at times subject to industry- wide availability and pricing pressures .', 'in addition , the company uses some components that are not common to the rest of the personal computer industry , and new products introduced by the company often initially utilize custom components obtained from only one source until the company has evaluated whether there is a need for and subsequently qualifies additional suppliers .', "if the supply of a key single-sourced component to the company were to be delayed or curtailed or in the event a key manufacturing vendor delays shipments of completed products to the company , the company's ability to ship related products in desired quantities and in a timely manner could be adversely affected .", "the company's business and financial performance could also be adversely affected depending on the time required to obtain sufficient quantities from the original source , or to identify and obtain sufficient quantities from an alternative source .", "continued availability of these components may be affected if producers were to decide to concentrate on the production of common components instead of components customized to meet the company's requirements .", "finally , significant portions of the company's cpus , logic boards , and assembled products are now manufactured by outsourcing partners , the majority of which occurs in various parts of asia .", "although the company works closely with its outsourcing partners on manufacturing schedules and levels , the company's operating results could be adversely affected if its outsourcing partners were unable to meet their production obligations .", 'contingencies beginning on september 27 , 2001 , three shareholder class action lawsuits were filed in the united states district court for the northern district of california against the company and its chief executive officer .', "these lawsuits are substantially identical , and purport to bring suit on behalf of persons who purchased the company's publicly traded common stock between july 19 , 2000 , and september 28 , 2000 .", 'the complaints allege violations of the 1934 securities exchange act and seek unspecified compensatory damages and other relief .', 'the company believes these claims are without merit and intends to defend them vigorously .', 'the company filed a motion to dismiss on june 4 , 2002 , which was heard by the court on september 13 , 2002 .', "on december 11 , 2002 , the court granted the company's motion to dismiss for failure to state a cause of action , with leave to plaintiffs to amend their complaint within thirty days .", 'the company is subject to certain other legal proceedings and claims that have arisen in the ordinary course of business and have not been fully adjudicated .', 'in the opinion of management , the company does not have a potential liability related to any current legal proceedings and claims that would have a material adverse effect on its financial condition , liquidity or results of operations .', 'however , the results of legal proceedings cannot be predicted with certainty .', 'should the company fail to prevail in any of these legal matters or should several of these legal matters be resolved against the company in the same reporting period , the operating results of a particular reporting period could be materially adversely affected .', 'the parliament of the european union is working on finalizing the waste electrical and electronic equipment directive ( the directive ) .', 'the directive makes producers of electrical goods , including personal computers , financially responsible for the collection , recycling , and safe disposal of past and future products .', "the directive must now be approved and implemented by individual european union governments by june 2004 , while the producers' financial obligations are scheduled to start june 2005 .", "the company's potential liability resulting from the directive related to past sales of its products and expenses associated with future sales of its product may be substantial .", "however , because it is likely that specific laws , regulations , and enforcement policies will vary significantly between individual european member states , it is not currently possible to estimate the company's existing liability or future expenses resulting from the directive .", 'as the european union and its individual member states clarify specific requirements and policies with respect to the directive , the company will continue to assess its potential financial impact .', 'similar legislation may be enacted in other geographies , including federal and state legislation in the united states , the cumulative impact of which could be significant .', 'fiscal years .']
--------
Data Table:
========================================
• 2003, $ 83
• 2004, 78
• 2005, 66
• 2006, 55
• 2007, 42
• later years, 140
• total minimum lease payments, $ 464
========================================
--------
Additional Information: ['.'] | 13.0 | AAPL/2002/page_63.pdf-3 | ['leases , was $ 92 million , $ 80 million , and $ 72 million in 2002 , 2001 , and 2000 , respectively .', 'future minimum lease payments under noncancelable operating leases having remaining terms in excess of one year as of september 28 , 2002 , are as follows ( in millions ) : concentrations in the available sources of supply of materials and product although certain components essential to the company\'s business are generally available from multiple sources , other key components ( including microprocessors and application-specific integrated circuits , or ( "asics" ) ) are currently obtained by the company from single or limited sources .', 'some other key components , while currently available to the company from multiple sources , are at times subject to industry- wide availability and pricing pressures .', 'in addition , the company uses some components that are not common to the rest of the personal computer industry , and new products introduced by the company often initially utilize custom components obtained from only one source until the company has evaluated whether there is a need for and subsequently qualifies additional suppliers .', "if the supply of a key single-sourced component to the company were to be delayed or curtailed or in the event a key manufacturing vendor delays shipments of completed products to the company , the company's ability to ship related products in desired quantities and in a timely manner could be adversely affected .", "the company's business and financial performance could also be adversely affected depending on the time required to obtain sufficient quantities from the original source , or to identify and obtain sufficient quantities from an alternative source .", "continued availability of these components may be affected if producers were to decide to concentrate on the production of common components instead of components customized to meet the company's requirements .", "finally , significant portions of the company's cpus , logic boards , and assembled products are now manufactured by outsourcing partners , the majority of which occurs in various parts of asia .", "although the company works closely with its outsourcing partners on manufacturing schedules and levels , the company's operating results could be adversely affected if its outsourcing partners were unable to meet their production obligations .", 'contingencies beginning on september 27 , 2001 , three shareholder class action lawsuits were filed in the united states district court for the northern district of california against the company and its chief executive officer .', "these lawsuits are substantially identical , and purport to bring suit on behalf of persons who purchased the company's publicly traded common stock between july 19 , 2000 , and september 28 , 2000 .", 'the complaints allege violations of the 1934 securities exchange act and seek unspecified compensatory damages and other relief .', 'the company believes these claims are without merit and intends to defend them vigorously .', 'the company filed a motion to dismiss on june 4 , 2002 , which was heard by the court on september 13 , 2002 .', "on december 11 , 2002 , the court granted the company's motion to dismiss for failure to state a cause of action , with leave to plaintiffs to amend their complaint within thirty days .", 'the company is subject to certain other legal proceedings and claims that have arisen in the ordinary course of business and have not been fully adjudicated .', 'in the opinion of management , the company does not have a potential liability related to any current legal proceedings and claims that would have a material adverse effect on its financial condition , liquidity or results of operations .', 'however , the results of legal proceedings cannot be predicted with certainty .', 'should the company fail to prevail in any of these legal matters or should several of these legal matters be resolved against the company in the same reporting period , the operating results of a particular reporting period could be materially adversely affected .', 'the parliament of the european union is working on finalizing the waste electrical and electronic equipment directive ( the directive ) .', 'the directive makes producers of electrical goods , including personal computers , financially responsible for the collection , recycling , and safe disposal of past and future products .', "the directive must now be approved and implemented by individual european union governments by june 2004 , while the producers' financial obligations are scheduled to start june 2005 .", "the company's potential liability resulting from the directive related to past sales of its products and expenses associated with future sales of its product may be substantial .", "however , because it is likely that specific laws , regulations , and enforcement policies will vary significantly between individual european member states , it is not currently possible to estimate the company's existing liability or future expenses resulting from the directive .", 'as the european union and its individual member states clarify specific requirements and policies with respect to the directive , the company will continue to assess its potential financial impact .', 'similar legislation may be enacted in other geographies , including federal and state legislation in the united states , the cumulative impact of which could be significant .', 'fiscal years .'] | ['.'] | ========================================
• 2003, $ 83
• 2004, 78
• 2005, 66
• 2006, 55
• 2007, 42
• later years, 140
• total minimum lease payments, $ 464
======================================== | subtract(55, 42) | 13.0 |
if physical contracts ( short ) and futures ( short ) combined equal futures ( long ) , then what percentage of futures long are future shorts? | Pre-text: ['table of contents valero energy corporation and subsidiaries notes to consolidated financial statements ( continued ) cash flow hedges cash flow hedges are used to hedge price volatility in certain forecasted feedstock and refined product purchases , refined product sales , and natural gas purchases .', 'the objective of our cash flow hedges is to lock in the price of forecasted feedstock , product or natural gas purchases , or refined product sales at existing market prices that we deem favorable .', 'as of december 31 , 2012 , we had the following outstanding commodity derivative instruments that were entered into to hedge forecasted purchases or sales of crude oil and refined products .', 'the information presents the notional volume of outstanding contracts by type of instrument and year of maturity ( volumes in thousands of barrels ) .', 'notional contract volumes by year of maturity derivative instrument 2013 .']
--------
Table:
========================================
derivative instrument notionalcontractvolumes byyear ofmaturity 2013
crude oil and refined products:
swaps 2013 long 1300
swaps 2013 short 1300
futures 2013 long 11894
futures 2013 short 2981
physical contracts 2013 short 8913
========================================
--------
Post-table: ['.'] | 0.25063 | VLO/2012/page_130.pdf-1 | ['table of contents valero energy corporation and subsidiaries notes to consolidated financial statements ( continued ) cash flow hedges cash flow hedges are used to hedge price volatility in certain forecasted feedstock and refined product purchases , refined product sales , and natural gas purchases .', 'the objective of our cash flow hedges is to lock in the price of forecasted feedstock , product or natural gas purchases , or refined product sales at existing market prices that we deem favorable .', 'as of december 31 , 2012 , we had the following outstanding commodity derivative instruments that were entered into to hedge forecasted purchases or sales of crude oil and refined products .', 'the information presents the notional volume of outstanding contracts by type of instrument and year of maturity ( volumes in thousands of barrels ) .', 'notional contract volumes by year of maturity derivative instrument 2013 .'] | ['.'] | ========================================
derivative instrument notionalcontractvolumes byyear ofmaturity 2013
crude oil and refined products:
swaps 2013 long 1300
swaps 2013 short 1300
futures 2013 long 11894
futures 2013 short 2981
physical contracts 2013 short 8913
======================================== | divide(2981, 11894) | 0.25063 |
in 2013 what was the percent of the net cash used for investing activities to the net cash provided by operating activities | Pre-text: ['in summary , our cash flows for each period were as follows: .']
##
Tabular Data:
****************************************
( in millions ) 2013 2012 2011
net cash provided by operating activities $ 20776 $ 18884 $ 20963
net cash used for investing activities -18073 ( 18073 ) -14060 ( 14060 ) -10301 ( 10301 )
net cash used for financing activities -5498 ( 5498 ) -1408 ( 1408 ) -11100 ( 11100 )
effect of exchange rate fluctuations on cash and cash equivalents -9 ( 9 ) -3 ( 3 ) 5
net increase ( decrease ) in cash and cash equivalents $ -2804 ( 2804 ) $ 3413 $ -433 ( 433 )
****************************************
##
Additional Information: ['operating activities cash provided by operating activities is net income adjusted for certain non-cash items and changes in certain assets and liabilities .', 'for 2013 compared to 2012 , the $ 1.9 billion increase in cash provided by operating activities was due to changes in working capital , partially offset by lower net income in 2013 .', 'income taxes paid , net of refunds , in 2013 compared to 2012 were $ 1.1 billion lower due to lower income before taxes in 2013 and 2012 income tax overpayments .', 'changes in assets and liabilities as of december 28 , 2013 , compared to december 29 , 2012 , included lower income taxes payable and receivable resulting from a reduction in taxes due in 2013 , and lower inventories due to the sell-through of older-generation products , partially offset by the ramp of 4th generation intel core processor family products .', 'for 2013 , our three largest customers accounted for 44% ( 44 % ) of our net revenue ( 43% ( 43 % ) in 2012 and 2011 ) , with hewlett- packard company accounting for 17% ( 17 % ) of our net revenue ( 18% ( 18 % ) in 2012 and 19% ( 19 % ) in 2011 ) , dell accounting for 15% ( 15 % ) of our net revenue ( 14% ( 14 % ) in 2012 and 15% ( 15 % ) in 2011 ) , and lenovo accounting for 12% ( 12 % ) of our net revenue ( 11% ( 11 % ) in 2012 and 9% ( 9 % ) in 2011 ) .', 'these three customers accounted for 34% ( 34 % ) of our accounts receivable as of december 28 , 2013 ( 33% ( 33 % ) as of december 29 , 2012 ) .', 'for 2012 compared to 2011 , the $ 2.1 billion decrease in cash provided by operating activities was due to lower net income and changes in our working capital , partially offset by adjustments for non-cash items .', 'the adjustments for noncash items were higher due primarily to higher depreciation in 2012 compared to 2011 , partially offset by increases in non-acquisition-related deferred tax liabilities as of december 31 , 2011 .', 'investing activities investing cash flows consist primarily of capital expenditures ; investment purchases , sales , maturities , and disposals ; as well as cash used for acquisitions .', 'the increase in cash used for investing activities in 2013 compared to 2012 was primarily due to an increase in purchases of available-for-sale investments and a decrease in maturities and sales of trading assets , partially offset by an increase in maturities and sales of available-for-sale investments and a decrease in purchases of licensed technology and patents .', 'our capital expenditures were $ 10.7 billion in 2013 ( $ 11.0 billion in 2012 and $ 10.8 billion in 2011 ) .', 'cash used for investing activities increased in 2012 compared to 2011 primarily due to net purchases of available- for-sale investments and trading assets in 2012 , as compared to net maturities and sales of available-for-sale investments and trading assets in 2011 , partially offset by a decrease in cash paid for acquisitions .', 'net purchases of available-for-sale investments in 2012 included our purchase of $ 3.2 billion of equity securities in asml in q3 2012 .', 'financing activities financing cash flows consist primarily of repurchases of common stock , payment of dividends to stockholders , issuance and repayment of long-term debt , and proceeds from the sale of shares through employee equity incentive plans .', 'table of contents management 2019s discussion and analysis of financial condition and results of operations ( continued ) .'] | 0.8699 | INTC/2013/page_47.pdf-4 | ['in summary , our cash flows for each period were as follows: .'] | ['operating activities cash provided by operating activities is net income adjusted for certain non-cash items and changes in certain assets and liabilities .', 'for 2013 compared to 2012 , the $ 1.9 billion increase in cash provided by operating activities was due to changes in working capital , partially offset by lower net income in 2013 .', 'income taxes paid , net of refunds , in 2013 compared to 2012 were $ 1.1 billion lower due to lower income before taxes in 2013 and 2012 income tax overpayments .', 'changes in assets and liabilities as of december 28 , 2013 , compared to december 29 , 2012 , included lower income taxes payable and receivable resulting from a reduction in taxes due in 2013 , and lower inventories due to the sell-through of older-generation products , partially offset by the ramp of 4th generation intel core processor family products .', 'for 2013 , our three largest customers accounted for 44% ( 44 % ) of our net revenue ( 43% ( 43 % ) in 2012 and 2011 ) , with hewlett- packard company accounting for 17% ( 17 % ) of our net revenue ( 18% ( 18 % ) in 2012 and 19% ( 19 % ) in 2011 ) , dell accounting for 15% ( 15 % ) of our net revenue ( 14% ( 14 % ) in 2012 and 15% ( 15 % ) in 2011 ) , and lenovo accounting for 12% ( 12 % ) of our net revenue ( 11% ( 11 % ) in 2012 and 9% ( 9 % ) in 2011 ) .', 'these three customers accounted for 34% ( 34 % ) of our accounts receivable as of december 28 , 2013 ( 33% ( 33 % ) as of december 29 , 2012 ) .', 'for 2012 compared to 2011 , the $ 2.1 billion decrease in cash provided by operating activities was due to lower net income and changes in our working capital , partially offset by adjustments for non-cash items .', 'the adjustments for noncash items were higher due primarily to higher depreciation in 2012 compared to 2011 , partially offset by increases in non-acquisition-related deferred tax liabilities as of december 31 , 2011 .', 'investing activities investing cash flows consist primarily of capital expenditures ; investment purchases , sales , maturities , and disposals ; as well as cash used for acquisitions .', 'the increase in cash used for investing activities in 2013 compared to 2012 was primarily due to an increase in purchases of available-for-sale investments and a decrease in maturities and sales of trading assets , partially offset by an increase in maturities and sales of available-for-sale investments and a decrease in purchases of licensed technology and patents .', 'our capital expenditures were $ 10.7 billion in 2013 ( $ 11.0 billion in 2012 and $ 10.8 billion in 2011 ) .', 'cash used for investing activities increased in 2012 compared to 2011 primarily due to net purchases of available- for-sale investments and trading assets in 2012 , as compared to net maturities and sales of available-for-sale investments and trading assets in 2011 , partially offset by a decrease in cash paid for acquisitions .', 'net purchases of available-for-sale investments in 2012 included our purchase of $ 3.2 billion of equity securities in asml in q3 2012 .', 'financing activities financing cash flows consist primarily of repurchases of common stock , payment of dividends to stockholders , issuance and repayment of long-term debt , and proceeds from the sale of shares through employee equity incentive plans .', 'table of contents management 2019s discussion and analysis of financial condition and results of operations ( continued ) .'] | ****************************************
( in millions ) 2013 2012 2011
net cash provided by operating activities $ 20776 $ 18884 $ 20963
net cash used for investing activities -18073 ( 18073 ) -14060 ( 14060 ) -10301 ( 10301 )
net cash used for financing activities -5498 ( 5498 ) -1408 ( 1408 ) -11100 ( 11100 )
effect of exchange rate fluctuations on cash and cash equivalents -9 ( 9 ) -3 ( 3 ) 5
net increase ( decrease ) in cash and cash equivalents $ -2804 ( 2804 ) $ 3413 $ -433 ( 433 )
**************************************** | divide(18073, 20776) | 0.8699 |
what portion of the total number of securities approved by security holders remains available for future issuance? | Context: ['part a0iii item a010 .', 'directors , executive officers and corporate governance for the information required by this item a010 with respect to our executive officers , see part a0i , item 1 .', 'of this report .', 'for the other information required by this item a010 , see 201celection of directors , 201d 201cnominees for election to the board of directors , 201d 201ccorporate governance 201d and 201csection a016 ( a ) beneficial ownership reporting compliance , 201d in the proxy statement for our 2018 annual meeting , which information is incorporated herein by reference .', 'the proxy statement for our 2018 annual meeting will be filed within 120 a0days after the end of the fiscal year covered by this annual report on form 10-k .', 'item a011 .', 'executive compensation for the information required by this item a011 , see 201ccompensation discussion and analysis , 201d 201ccompensation committee report , 201d and 201cexecutive compensation 201d in the proxy statement for our 2018 annual meeting , which information is incorporated herein by reference .', 'item a012 .', 'security ownership of certain beneficial owners and management and related stockholder matters for the information required by this item a012 with respect to beneficial ownership of our common stock , see 201csecurity ownership of certain beneficial owners and management 201d in the proxy statement for our 2018 annual meeting , which information is incorporated herein by reference .', 'the following table sets forth certain information as of december a031 , 2017 regarding our equity plans : 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 ) ( b ) ( c ) equity compensation plans approved by security holders 1708928 $ 113.49 3629455 item a013 .', 'certain relationships and related transactions , and director independence for the information required by this item a013 , see 201ccertain transactions 201d and 201ccorporate governance 201d in the proxy statement for our 2018 annual meeting , which information is incorporated herein by reference .', 'item a014 .', 'principal accounting fees and services for the information required by this item a014 , see 201caudit and non-audit fees 201d and 201caudit committee pre-approval procedures 201d in the proxy statement for our 2018 annual meeting , which information is incorporated herein by reference. .']
Data Table:
========================================
• plan category, number of securitiesto be issued uponexercise ofoutstanding options warrants and rights ( a ) ( b ), weighted-averageexercise price ofoutstanding options warrants and rights, number of securitiesremaining available forfuture issuance underequity compensationplans ( excludingsecurities reflected in column ( a ) ) ( c )
• equity compensation plans approved by security holders, 1708928, $ 113.49, 3629455
========================================
Follow-up: ['part a0iii item a010 .', 'directors , executive officers and corporate governance for the information required by this item a010 with respect to our executive officers , see part a0i , item 1 .', 'of this report .', 'for the other information required by this item a010 , see 201celection of directors , 201d 201cnominees for election to the board of directors , 201d 201ccorporate governance 201d and 201csection a016 ( a ) beneficial ownership reporting compliance , 201d in the proxy statement for our 2018 annual meeting , which information is incorporated herein by reference .', 'the proxy statement for our 2018 annual meeting will be filed within 120 a0days after the end of the fiscal year covered by this annual report on form 10-k .', 'item a011 .', 'executive compensation for the information required by this item a011 , see 201ccompensation discussion and analysis , 201d 201ccompensation committee report , 201d and 201cexecutive compensation 201d in the proxy statement for our 2018 annual meeting , which information is incorporated herein by reference .', 'item a012 .', 'security ownership of certain beneficial owners and management and related stockholder matters for the information required by this item a012 with respect to beneficial ownership of our common stock , see 201csecurity ownership of certain beneficial owners and management 201d in the proxy statement for our 2018 annual meeting , which information is incorporated herein by reference .', 'the following table sets forth certain information as of december a031 , 2017 regarding our equity plans : 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 ) ( b ) ( c ) equity compensation plans approved by security holders 1708928 $ 113.49 3629455 item a013 .', 'certain relationships and related transactions , and director independence for the information required by this item a013 , see 201ccertain transactions 201d and 201ccorporate governance 201d in the proxy statement for our 2018 annual meeting , which information is incorporated herein by reference .', 'item a014 .', 'principal accounting fees and services for the information required by this item a014 , see 201caudit and non-audit fees 201d and 201caudit committee pre-approval procedures 201d in the proxy statement for our 2018 annual meeting , which information is incorporated herein by reference. .'] | 0.67988 | TFX/2017/page_78.pdf-2 | ['part a0iii item a010 .', 'directors , executive officers and corporate governance for the information required by this item a010 with respect to our executive officers , see part a0i , item 1 .', 'of this report .', 'for the other information required by this item a010 , see 201celection of directors , 201d 201cnominees for election to the board of directors , 201d 201ccorporate governance 201d and 201csection a016 ( a ) beneficial ownership reporting compliance , 201d in the proxy statement for our 2018 annual meeting , which information is incorporated herein by reference .', 'the proxy statement for our 2018 annual meeting will be filed within 120 a0days after the end of the fiscal year covered by this annual report on form 10-k .', 'item a011 .', 'executive compensation for the information required by this item a011 , see 201ccompensation discussion and analysis , 201d 201ccompensation committee report , 201d and 201cexecutive compensation 201d in the proxy statement for our 2018 annual meeting , which information is incorporated herein by reference .', 'item a012 .', 'security ownership of certain beneficial owners and management and related stockholder matters for the information required by this item a012 with respect to beneficial ownership of our common stock , see 201csecurity ownership of certain beneficial owners and management 201d in the proxy statement for our 2018 annual meeting , which information is incorporated herein by reference .', 'the following table sets forth certain information as of december a031 , 2017 regarding our equity plans : 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 ) ( b ) ( c ) equity compensation plans approved by security holders 1708928 $ 113.49 3629455 item a013 .', 'certain relationships and related transactions , and director independence for the information required by this item a013 , see 201ccertain transactions 201d and 201ccorporate governance 201d in the proxy statement for our 2018 annual meeting , which information is incorporated herein by reference .', 'item a014 .', 'principal accounting fees and services for the information required by this item a014 , see 201caudit and non-audit fees 201d and 201caudit committee pre-approval procedures 201d in the proxy statement for our 2018 annual meeting , which information is incorporated herein by reference. .'] | ['part a0iii item a010 .', 'directors , executive officers and corporate governance for the information required by this item a010 with respect to our executive officers , see part a0i , item 1 .', 'of this report .', 'for the other information required by this item a010 , see 201celection of directors , 201d 201cnominees for election to the board of directors , 201d 201ccorporate governance 201d and 201csection a016 ( a ) beneficial ownership reporting compliance , 201d in the proxy statement for our 2018 annual meeting , which information is incorporated herein by reference .', 'the proxy statement for our 2018 annual meeting will be filed within 120 a0days after the end of the fiscal year covered by this annual report on form 10-k .', 'item a011 .', 'executive compensation for the information required by this item a011 , see 201ccompensation discussion and analysis , 201d 201ccompensation committee report , 201d and 201cexecutive compensation 201d in the proxy statement for our 2018 annual meeting , which information is incorporated herein by reference .', 'item a012 .', 'security ownership of certain beneficial owners and management and related stockholder matters for the information required by this item a012 with respect to beneficial ownership of our common stock , see 201csecurity ownership of certain beneficial owners and management 201d in the proxy statement for our 2018 annual meeting , which information is incorporated herein by reference .', 'the following table sets forth certain information as of december a031 , 2017 regarding our equity plans : 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 ) ( b ) ( c ) equity compensation plans approved by security holders 1708928 $ 113.49 3629455 item a013 .', 'certain relationships and related transactions , and director independence for the information required by this item a013 , see 201ccertain transactions 201d and 201ccorporate governance 201d in the proxy statement for our 2018 annual meeting , which information is incorporated herein by reference .', 'item a014 .', 'principal accounting fees and services for the information required by this item a014 , see 201caudit and non-audit fees 201d and 201caudit committee pre-approval procedures 201d in the proxy statement for our 2018 annual meeting , which information is incorporated herein by reference. .'] | ========================================
• plan category, number of securitiesto be issued uponexercise ofoutstanding options warrants and rights ( a ) ( b ), weighted-averageexercise price ofoutstanding options warrants and rights, number of securitiesremaining available forfuture issuance underequity compensationplans ( excludingsecurities reflected in column ( a ) ) ( c )
• equity compensation plans approved by security holders, 1708928, $ 113.49, 3629455
======================================== | add(1708928, 3629455), divide(3629455, #0) | 0.67988 |
based o n the review of the simultaneous investments of the jpmorgan chase common stock in the various index what was the ratio of the performance in the kbw bank index to the s&p financial index in 2010 | Background: ['jpmorgan chase & co./2014 annual report 63 five-year stock performance the following table and graph compare the five-year cumulative total return for jpmorgan chase & co .', '( 201cjpmorgan chase 201d or the 201cfirm 201d ) common stock with the cumulative return of the s&p 500 index , the kbw bank index and the s&p financial index .', 'the s&p 500 index is a commonly referenced u.s .', 'equity benchmark consisting of leading companies from different economic sectors .', 'the kbw bank index seeks to reflect the performance of banks and thrifts that are publicly traded in the u.s .', 'and is composed of 24 leading national money center and regional banks and thrifts .', 'the s&p financial index is an index of 85 financial companies , all of which are components of the s&p 500 .', 'the firm is a component of all three industry indices .', 'the following table and graph assume simultaneous investments of $ 100 on december 31 , 2009 , in jpmorgan chase common stock and in each of the above indices .', 'the comparison assumes that all dividends are reinvested .', 'december 31 , ( in dollars ) 2009 2010 2011 2012 2013 2014 .']
Table:
----------------------------------------
december 31 ( in dollars ) | 2009 | 2010 | 2011 | 2012 | 2013 | 2014
----------|----------|----------|----------|----------|----------|----------
jpmorgan chase | $ 100.00 | $ 102.30 | $ 81.87 | $ 111.49 | $ 152.42 | $ 167.48
kbw bank index | 100.00 | 123.36 | 94.75 | 125.91 | 173.45 | 189.69
s&p financial index | 100.00 | 112.13 | 93.00 | 119.73 | 162.34 | 186.98
s&p 500 index | 100.00 | 115.06 | 117.48 | 136.27 | 180.39 | 205.07
----------------------------------------
Post-table: ['.'] | 1.10015 | JPM/2014/page_65.pdf-3 | ['jpmorgan chase & co./2014 annual report 63 five-year stock performance the following table and graph compare the five-year cumulative total return for jpmorgan chase & co .', '( 201cjpmorgan chase 201d or the 201cfirm 201d ) common stock with the cumulative return of the s&p 500 index , the kbw bank index and the s&p financial index .', 'the s&p 500 index is a commonly referenced u.s .', 'equity benchmark consisting of leading companies from different economic sectors .', 'the kbw bank index seeks to reflect the performance of banks and thrifts that are publicly traded in the u.s .', 'and is composed of 24 leading national money center and regional banks and thrifts .', 'the s&p financial index is an index of 85 financial companies , all of which are components of the s&p 500 .', 'the firm is a component of all three industry indices .', 'the following table and graph assume simultaneous investments of $ 100 on december 31 , 2009 , in jpmorgan chase common stock and in each of the above indices .', 'the comparison assumes that all dividends are reinvested .', 'december 31 , ( in dollars ) 2009 2010 2011 2012 2013 2014 .'] | ['.'] | ----------------------------------------
december 31 ( in dollars ) | 2009 | 2010 | 2011 | 2012 | 2013 | 2014
----------|----------|----------|----------|----------|----------|----------
jpmorgan chase | $ 100.00 | $ 102.30 | $ 81.87 | $ 111.49 | $ 152.42 | $ 167.48
kbw bank index | 100.00 | 123.36 | 94.75 | 125.91 | 173.45 | 189.69
s&p financial index | 100.00 | 112.13 | 93.00 | 119.73 | 162.34 | 186.98
s&p 500 index | 100.00 | 115.06 | 117.48 | 136.27 | 180.39 | 205.07
---------------------------------------- | divide(123.36, 112.13) | 1.10015 |
considering the year 2013 , what is the sales to operating income ratio? | Background: ['equipment and energy .']
##########
Data Table:
========================================
| 2013 | 2012 | 2011
----------|----------|----------|----------
sales | $ 451.1 | $ 420.1 | $ 400.6
operating income | 65.5 | 44.6 | 62.8
========================================
##########
Additional Information: ['2013 vs .', '2012 sales of $ 451.1 increased primarily from higher lng project activity .', 'operating income of $ 65.5 increased from the higher lng project activity .', 'the sales backlog for the equipment business at 30 september 2013 was $ 402 , compared to $ 450 at 30 september 2012 .', 'it is expected that approximately $ 250 of the backlog will be completed during 2014 .', '2012 vs .', '2011 sales of $ 420.1 increased 5% ( 5 % ) , or $ 19.5 , reflecting higher air separation unit ( asu ) activity .', 'operating income of $ 44.6 decreased 29% ( 29 % ) , or $ 18.2 , reflecting lower lng project activity .', 'the sales backlog for the equipment business at 30 september 2012 was $ 450 , compared to $ 334 at 30 september 2011 .', 'other operating income ( loss ) primarily includes other expense and income that cannot be directly associated with the business segments , including foreign exchange gains and losses .', 'also included are lifo inventory valuation adjustments , as the business segments use fifo , and the lifo pool valuation adjustments are not allocated to the business segments .', 'other also included stranded costs resulting from discontinued operations , as these costs were not reallocated to the businesses in 2012 .', '2013 vs .', '2012 other operating loss was $ 4.7 , compared to $ 6.6 in the prior year .', 'the current year includes an unfavorable lifo adjustment versus the prior year of $ 11 .', 'the prior year loss included stranded costs from discontinued operations of $ 10 .', '2012 vs .', '2011 other operating loss was $ 6.6 , compared to $ 39.3 in the prior year , primarily due to a reduction in stranded costs , a decrease in the lifo adjustment as a result of decreases in inventory values , and favorable foreign exchange , partially offset by gains on asset sales in the prior year. .'] | 6.88702 | APD/2013/page_36.pdf-1 | ['equipment and energy .'] | ['2013 vs .', '2012 sales of $ 451.1 increased primarily from higher lng project activity .', 'operating income of $ 65.5 increased from the higher lng project activity .', 'the sales backlog for the equipment business at 30 september 2013 was $ 402 , compared to $ 450 at 30 september 2012 .', 'it is expected that approximately $ 250 of the backlog will be completed during 2014 .', '2012 vs .', '2011 sales of $ 420.1 increased 5% ( 5 % ) , or $ 19.5 , reflecting higher air separation unit ( asu ) activity .', 'operating income of $ 44.6 decreased 29% ( 29 % ) , or $ 18.2 , reflecting lower lng project activity .', 'the sales backlog for the equipment business at 30 september 2012 was $ 450 , compared to $ 334 at 30 september 2011 .', 'other operating income ( loss ) primarily includes other expense and income that cannot be directly associated with the business segments , including foreign exchange gains and losses .', 'also included are lifo inventory valuation adjustments , as the business segments use fifo , and the lifo pool valuation adjustments are not allocated to the business segments .', 'other also included stranded costs resulting from discontinued operations , as these costs were not reallocated to the businesses in 2012 .', '2013 vs .', '2012 other operating loss was $ 4.7 , compared to $ 6.6 in the prior year .', 'the current year includes an unfavorable lifo adjustment versus the prior year of $ 11 .', 'the prior year loss included stranded costs from discontinued operations of $ 10 .', '2012 vs .', '2011 other operating loss was $ 6.6 , compared to $ 39.3 in the prior year , primarily due to a reduction in stranded costs , a decrease in the lifo adjustment as a result of decreases in inventory values , and favorable foreign exchange , partially offset by gains on asset sales in the prior year. .'] | ========================================
| 2013 | 2012 | 2011
----------|----------|----------|----------
sales | $ 451.1 | $ 420.1 | $ 400.6
operating income | 65.5 | 44.6 | 62.8
======================================== | divide(451.1, 65.5) | 6.88702 |
what percentage of total contractual obligations come from other operating leases? | Pre-text: ["contractual obligations the company's significant contractual obligations as of december 31 , 2014 are summarized below: ."]
------
Tabular Data:
( in thousands ), payments due by period total, payments due by period within 1 year, payments due by period 2 2013 3 years, payments due by period 4 2013 5 years, payments due by period after 5 years
global headquarters operating lease ( 1 ), $ 49415, $ 4278, $ 8556, $ 8556, $ 28025
other operating leases ( 2 ), 29838, 10397, 12100, 4603, 2738
unconditional purchase obligations ( 3 ), 9821, 5259, 4562, 2014, 2014
obligations related to uncertain tax positions including interest and penalties ( 4 ), 209, 209, 2014, 2014, 2014
other long-term obligations ( 5 ), 29861, 9206, 13378, 3611, 3666
total contractual obligations, $ 119144, $ 29349, $ 38596, $ 16770, $ 34429
------
Post-table: ["( 1 ) on september 14 , 2012 , the company entered into a lease agreement for 186000 square feet of rentable space located in an office facility in canonsburg , pennsylvania , which serves as the company's new headquarters .", 'the lease was effective as of september 14 , 2012 , but because the leased premises were under construction , the company was not obligated to pay rent until three months following the date that the leased premises were delivered to ansys , which occurred on october 1 , 2014 .', 'the term of the lease is 183 months , beginning on october 1 , 2014 .', "the company shall have a one-time right to terminate the lease effective upon the last day of the tenth full year following the date of possession ( december 31 , 2024 ) , by providing the landlord with at least 18 months' prior written notice of such termination .", "the company's lease for its prior headquarters expired on december 31 , 2014 .", '( 2 ) other operating leases primarily include noncancellable lease commitments for the company 2019s other domestic and international offices as well as certain operating equipment .', '( 3 ) unconditional purchase obligations primarily include software licenses and long-term purchase contracts for network , communication and office maintenance services , which are unrecorded as of december 31 , 2014 .', '( 4 ) the company has $ 17.3 million of unrecognized tax benefits , including estimated interest and penalties , that have been recorded as liabilities in accordance with income tax accounting guidance for which the company is uncertain as to if or when such amounts may be settled .', 'as a result , such amounts are excluded from the table above .', '( 5 ) other long-term obligations primarily include deferred compensation of $ 18.5 million ( including estimated imputed interest of $ 300000 within 1 year , $ 450000 within 2-3 years and $ 90000 within 4-5 years ) , pension obligations of $ 6.3 million for certain foreign locations of the company and contingent consideration of $ 2.8 million ( including estimated imputed interest of $ 270000 within 1 year and $ 390000 within 2-3 years ) .', 'table of contents .'] | 0.25044 | ANSS/2014/page_57.pdf-2 | ["contractual obligations the company's significant contractual obligations as of december 31 , 2014 are summarized below: ."] | ["( 1 ) on september 14 , 2012 , the company entered into a lease agreement for 186000 square feet of rentable space located in an office facility in canonsburg , pennsylvania , which serves as the company's new headquarters .", 'the lease was effective as of september 14 , 2012 , but because the leased premises were under construction , the company was not obligated to pay rent until three months following the date that the leased premises were delivered to ansys , which occurred on october 1 , 2014 .', 'the term of the lease is 183 months , beginning on october 1 , 2014 .', "the company shall have a one-time right to terminate the lease effective upon the last day of the tenth full year following the date of possession ( december 31 , 2024 ) , by providing the landlord with at least 18 months' prior written notice of such termination .", "the company's lease for its prior headquarters expired on december 31 , 2014 .", '( 2 ) other operating leases primarily include noncancellable lease commitments for the company 2019s other domestic and international offices as well as certain operating equipment .', '( 3 ) unconditional purchase obligations primarily include software licenses and long-term purchase contracts for network , communication and office maintenance services , which are unrecorded as of december 31 , 2014 .', '( 4 ) the company has $ 17.3 million of unrecognized tax benefits , including estimated interest and penalties , that have been recorded as liabilities in accordance with income tax accounting guidance for which the company is uncertain as to if or when such amounts may be settled .', 'as a result , such amounts are excluded from the table above .', '( 5 ) other long-term obligations primarily include deferred compensation of $ 18.5 million ( including estimated imputed interest of $ 300000 within 1 year , $ 450000 within 2-3 years and $ 90000 within 4-5 years ) , pension obligations of $ 6.3 million for certain foreign locations of the company and contingent consideration of $ 2.8 million ( including estimated imputed interest of $ 270000 within 1 year and $ 390000 within 2-3 years ) .', 'table of contents .'] | ( in thousands ), payments due by period total, payments due by period within 1 year, payments due by period 2 2013 3 years, payments due by period 4 2013 5 years, payments due by period after 5 years
global headquarters operating lease ( 1 ), $ 49415, $ 4278, $ 8556, $ 8556, $ 28025
other operating leases ( 2 ), 29838, 10397, 12100, 4603, 2738
unconditional purchase obligations ( 3 ), 9821, 5259, 4562, 2014, 2014
obligations related to uncertain tax positions including interest and penalties ( 4 ), 209, 209, 2014, 2014, 2014
other long-term obligations ( 5 ), 29861, 9206, 13378, 3611, 3666
total contractual obligations, $ 119144, $ 29349, $ 38596, $ 16770, $ 34429 | divide(29838, 119144) | 0.25044 |
as part of the restricted cash and marketable securities as of december 31 , 2016 what was the percent of the supports our insurance programs for workers 2019 compensation , commercial general liability as part of the total restricted cash and marketable securities | Context: ['republic services , inc .', 'notes to consolidated financial statements 2014 ( continued ) high quality financial institutions .', 'such balances may be in excess of fdic insured limits .', 'to manage the related credit exposure , we continually monitor the credit worthiness of the financial institutions where we have deposits .', 'concentrations of credit risk with respect to trade accounts receivable are limited due to the wide variety of customers and markets in which we provide services , as well as the dispersion of our operations across many geographic areas .', 'we provide services to small-container commercial , large-container industrial , municipal and residential customers in the united states and puerto rico .', 'we perform ongoing credit evaluations of our customers , but generally do not require collateral to support customer receivables .', 'we establish an allowance for doubtful accounts based on various factors including the credit risk of specific customers , age of receivables outstanding , historical trends , economic conditions and other information .', 'accounts receivable , net accounts receivable represent receivables from customers for collection , transfer , recycling , disposal , energy services and other services .', 'our receivables are recorded when billed or when the related revenue is earned , if earlier , and represent claims against third parties that will be settled in cash .', 'the carrying value of our receivables , net of the allowance for doubtful accounts and customer credits , represents their estimated net realizable value .', 'provisions for doubtful accounts are evaluated on a monthly basis and are recorded based on our historical collection experience , the age of the receivables , specific customer information and economic conditions .', 'we also review outstanding balances on an account-specific basis .', 'in general , reserves are provided for accounts receivable in excess of 90 days outstanding .', 'past due receivable balances are written-off when our collection efforts have been unsuccessful in collecting amounts due .', 'the following table reflects the activity in our allowance for doubtful accounts for the years ended december 31: .']
--------
Table:
| 2016 | 2015 | 2014
balance at beginning of year | $ 46.7 | $ 38.9 | $ 38.3
additions charged to expense | 20.4 | 22.7 | 22.6
accounts written-off | -23.1 ( 23.1 ) | -14.9 ( 14.9 ) | -22.0 ( 22.0 )
balance at end of year | $ 44.0 | $ 46.7 | $ 38.9
--------
Follow-up: ['restricted cash and marketable securities as of december 31 , 2016 , we had $ 90.5 million of restricted cash and marketable securities of which $ 62.6 million supports our insurance programs for workers 2019 compensation , commercial general liability , and commercial auto liability .', 'additionally , we obtain funds through the issuance of tax-exempt bonds for the purpose of financing qualifying expenditures at our landfills , transfer stations , collection and recycling centers .', 'the funds are deposited directly into trust accounts by the bonding authorities at the time of issuance .', 'as the use of these funds is contractually restricted , and we do not have the ability to use these funds for general operating purposes , they are classified as restricted cash and marketable securities in our consolidated balance sheets .', 'in the normal course of business , we may be required to provide financial assurance to governmental agencies and a variety of other entities in connection with municipal residential collection contracts , closure or post- closure of landfills , environmental remediation , environmental permits , and business licenses and permits as a financial guarantee of our performance .', 'at several of our landfills , we satisfy financial assurance requirements by depositing cash into restricted trust funds or escrow accounts .', 'property and equipment we record property and equipment at cost .', 'expenditures for major additions and improvements to facilities are capitalized , while maintenance and repairs are charged to expense as incurred .', 'when property is retired or .'] | 0.69171 | RSG/2016/page_98.pdf-1 | ['republic services , inc .', 'notes to consolidated financial statements 2014 ( continued ) high quality financial institutions .', 'such balances may be in excess of fdic insured limits .', 'to manage the related credit exposure , we continually monitor the credit worthiness of the financial institutions where we have deposits .', 'concentrations of credit risk with respect to trade accounts receivable are limited due to the wide variety of customers and markets in which we provide services , as well as the dispersion of our operations across many geographic areas .', 'we provide services to small-container commercial , large-container industrial , municipal and residential customers in the united states and puerto rico .', 'we perform ongoing credit evaluations of our customers , but generally do not require collateral to support customer receivables .', 'we establish an allowance for doubtful accounts based on various factors including the credit risk of specific customers , age of receivables outstanding , historical trends , economic conditions and other information .', 'accounts receivable , net accounts receivable represent receivables from customers for collection , transfer , recycling , disposal , energy services and other services .', 'our receivables are recorded when billed or when the related revenue is earned , if earlier , and represent claims against third parties that will be settled in cash .', 'the carrying value of our receivables , net of the allowance for doubtful accounts and customer credits , represents their estimated net realizable value .', 'provisions for doubtful accounts are evaluated on a monthly basis and are recorded based on our historical collection experience , the age of the receivables , specific customer information and economic conditions .', 'we also review outstanding balances on an account-specific basis .', 'in general , reserves are provided for accounts receivable in excess of 90 days outstanding .', 'past due receivable balances are written-off when our collection efforts have been unsuccessful in collecting amounts due .', 'the following table reflects the activity in our allowance for doubtful accounts for the years ended december 31: .'] | ['restricted cash and marketable securities as of december 31 , 2016 , we had $ 90.5 million of restricted cash and marketable securities of which $ 62.6 million supports our insurance programs for workers 2019 compensation , commercial general liability , and commercial auto liability .', 'additionally , we obtain funds through the issuance of tax-exempt bonds for the purpose of financing qualifying expenditures at our landfills , transfer stations , collection and recycling centers .', 'the funds are deposited directly into trust accounts by the bonding authorities at the time of issuance .', 'as the use of these funds is contractually restricted , and we do not have the ability to use these funds for general operating purposes , they are classified as restricted cash and marketable securities in our consolidated balance sheets .', 'in the normal course of business , we may be required to provide financial assurance to governmental agencies and a variety of other entities in connection with municipal residential collection contracts , closure or post- closure of landfills , environmental remediation , environmental permits , and business licenses and permits as a financial guarantee of our performance .', 'at several of our landfills , we satisfy financial assurance requirements by depositing cash into restricted trust funds or escrow accounts .', 'property and equipment we record property and equipment at cost .', 'expenditures for major additions and improvements to facilities are capitalized , while maintenance and repairs are charged to expense as incurred .', 'when property is retired or .'] | | 2016 | 2015 | 2014
balance at beginning of year | $ 46.7 | $ 38.9 | $ 38.3
additions charged to expense | 20.4 | 22.7 | 22.6
accounts written-off | -23.1 ( 23.1 ) | -14.9 ( 14.9 ) | -22.0 ( 22.0 )
balance at end of year | $ 44.0 | $ 46.7 | $ 38.9 | divide(62.6, 90.5) | 0.69171 |
what was the percentage change in the weighted-average estimated fair values of stock options granted from 2013 to 2014 | Context: ['republic services , inc .', 'notes to consolidated financial statements 2014 ( continued ) 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 , and 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 each of the periods presented ) and expected life of the options .', 'when appropriate , separate groups of employees that have similar historical exercise behavior are considered separately for valuation purposes .', 'the weighted-average estimated fair values of stock options granted during the years ended december 31 , 2014 , 2013 and 2012 were $ 5.74 , $ 5.27 and $ 4.77 per option , respectively , which were calculated using the following weighted-average assumptions: .']
Data Table:
========================================
2014 2013 2012
expected volatility 27.5% ( 27.5 % ) 28.9% ( 28.9 % ) 27.8% ( 27.8 % )
risk-free interest rate 1.4% ( 1.4 % ) 0.7% ( 0.7 % ) 0.8% ( 0.8 % )
dividend yield 3.2% ( 3.2 % ) 3.2% ( 3.2 % ) 3.2% ( 3.2 % )
expected life ( in years ) 4.6 4.5 4.5
contractual life ( in years ) 7.0 7.0 7.0
========================================
Additional Information: ['.'] | 0.08918 | RSG/2014/page_123.pdf-1 | ['republic services , inc .', 'notes to consolidated financial statements 2014 ( continued ) 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 , and 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 each of the periods presented ) and expected life of the options .', 'when appropriate , separate groups of employees that have similar historical exercise behavior are considered separately for valuation purposes .', 'the weighted-average estimated fair values of stock options granted during the years ended december 31 , 2014 , 2013 and 2012 were $ 5.74 , $ 5.27 and $ 4.77 per option , respectively , which were calculated using the following weighted-average assumptions: .'] | ['.'] | ========================================
2014 2013 2012
expected volatility 27.5% ( 27.5 % ) 28.9% ( 28.9 % ) 27.8% ( 27.8 % )
risk-free interest rate 1.4% ( 1.4 % ) 0.7% ( 0.7 % ) 0.8% ( 0.8 % )
dividend yield 3.2% ( 3.2 % ) 3.2% ( 3.2 % ) 3.2% ( 3.2 % )
expected life ( in years ) 4.6 4.5 4.5
contractual life ( in years ) 7.0 7.0 7.0
======================================== | subtract(5.74, 5.27), divide(#0, 5.27) | 0.08918 |
what is the total value of the shares already issued under the equity compensation plans for 2006? | Context: ['page 92 of 98 other information required by item 10 appearing under the caption 201cdirector nominees and continuing directors 201d and 201csection 16 ( a ) beneficial ownership reporting compliance , 201d of the company 2019s proxy statement to be filed pursuant to regulation 14a within 120 days after december 31 , 2006 , is incorporated herein by reference .', 'item 11 .', 'executive compensation the information required by item 11 appearing under the caption 201cexecutive compensation 201d in the company 2019s proxy statement , to be filed pursuant to regulation 14a within 120 days after december 31 , 2006 , is incorporated herein by reference .', 'additionally , the ball corporation 2000 deferred compensation company stock plan , the ball corporation deposit share program and the ball corporation directors deposit share program were created to encourage key executives and other participants to acquire a larger equity ownership interest in the company and to increase their interest in the company 2019s stock performance .', 'non-employee directors also participate in the 2000 deferred compensation company stock plan .', 'item 12 .', 'security ownership of certain beneficial owners and management the information required by item 12 appearing under the caption 201cvoting securities and principal shareholders , 201d in the company 2019s proxy statement to be filed pursuant to regulation 14a within 120 days after december 31 , 2006 , is incorporated herein by reference .', 'securities authorized for issuance under equity compensation plans are summarized below: .']
Tabular Data:
========================================
plan category equity compensation plan information number of securities to be issued upon exercise of outstanding options warrants and rights ( a ) equity compensation plan information weighted-average exercise price of outstanding options warrants and rights ( b ) equity compensation plan information number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) ( c )
equity compensation plans approved by security holders 4852978 $ 26.69 5941210
equity compensation plans not approved by security holders 2013 2013 2013
total 4852978 $ 26.69 5941210
========================================
Post-table: ['item 13 .', 'certain relationships and related transactions the information required by item 13 appearing under the caption 201cratification of the appointment of independent registered public accounting firm , 201d in the company 2019s proxy statement to be filed pursuant to regulation 14a within 120 days after december 31 , 2006 , is incorporated herein by reference .', 'item 14 .', 'principal accountant fees and services the information required by item 14 appearing under the caption 201ccertain committees of the board , 201d in the company 2019s proxy statement to be filed pursuant to regulation 14a within 120 days after december 31 , 2006 , is incorporated herein by reference. .'] | 129525982.82 | BLL/2006/page_108.pdf-2 | ['page 92 of 98 other information required by item 10 appearing under the caption 201cdirector nominees and continuing directors 201d and 201csection 16 ( a ) beneficial ownership reporting compliance , 201d of the company 2019s proxy statement to be filed pursuant to regulation 14a within 120 days after december 31 , 2006 , is incorporated herein by reference .', 'item 11 .', 'executive compensation the information required by item 11 appearing under the caption 201cexecutive compensation 201d in the company 2019s proxy statement , to be filed pursuant to regulation 14a within 120 days after december 31 , 2006 , is incorporated herein by reference .', 'additionally , the ball corporation 2000 deferred compensation company stock plan , the ball corporation deposit share program and the ball corporation directors deposit share program were created to encourage key executives and other participants to acquire a larger equity ownership interest in the company and to increase their interest in the company 2019s stock performance .', 'non-employee directors also participate in the 2000 deferred compensation company stock plan .', 'item 12 .', 'security ownership of certain beneficial owners and management the information required by item 12 appearing under the caption 201cvoting securities and principal shareholders , 201d in the company 2019s proxy statement to be filed pursuant to regulation 14a within 120 days after december 31 , 2006 , is incorporated herein by reference .', 'securities authorized for issuance under equity compensation plans are summarized below: .'] | ['item 13 .', 'certain relationships and related transactions the information required by item 13 appearing under the caption 201cratification of the appointment of independent registered public accounting firm , 201d in the company 2019s proxy statement to be filed pursuant to regulation 14a within 120 days after december 31 , 2006 , is incorporated herein by reference .', 'item 14 .', 'principal accountant fees and services the information required by item 14 appearing under the caption 201ccertain committees of the board , 201d in the company 2019s proxy statement to be filed pursuant to regulation 14a within 120 days after december 31 , 2006 , is incorporated herein by reference. .'] | ========================================
plan category equity compensation plan information number of securities to be issued upon exercise of outstanding options warrants and rights ( a ) equity compensation plan information weighted-average exercise price of outstanding options warrants and rights ( b ) equity compensation plan information number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) ( c )
equity compensation plans approved by security holders 4852978 $ 26.69 5941210
equity compensation plans not approved by security holders 2013 2013 2013
total 4852978 $ 26.69 5941210
======================================== | multiply(4852978, 26.69) | 129525982.82 |
what is the total square footage for the md facility? | Background: ['the following is a list of distribution locations including the approximate square footage and if the location is leased or owned: .']
####
Table:
========================================
distribution facility location, approximate square footage, owned/leased facility
franklin kentucky, 833000, owned
pendleton indiana, 764000, owned
macon georgia, 684000, owned
waco texas, 666000, owned
casa grande arizona, 650000, owned
hagerstown maryland ( a ), 482000, owned
hagerstown maryland ( a ), 309000, leased
waverly nebraska, 422000, owned
seguin texas ( b ), 71000, owned
lakewood washington, 64000, leased
longview texas ( b ), 63000, owned
========================================
####
Post-table: ['longview , texas ( b ) 63000 owned ( a ) the leased facility in hagerstown is treated as an extension of the existing owned hagerstown location and is not considered a separate distribution center .', '( b ) this is a mixing center designed to process certain high-volume bulk products .', 'the company 2019s store support center occupies approximately 260000 square feet of owned building space in brentwood , tennessee , and the company 2019s merchandising innovation center occupies approximately 32000 square feet of leased building space in nashville , tennessee .', 'the company also leases approximately 8000 square feet of building space for the petsense corporate headquarters located in scottsdale , arizona .', 'in fiscal 2017 , we began construction on a new northeast distribution center in frankfort , new york , as well as an expansion of our existing distribution center in waverly , nebraska , which will provide additional distribution capacity once construction is completed .', 'item 3 .', 'legal proceedings item 103 of sec regulation s-k requires disclosure of certain environmental legal proceedings if the proceeding reasonably involves potential monetary sanctions of $ 100000 or more .', 'we periodically receive information requests and notices of potential noncompliance with environmental laws and regulations from governmental agencies , which are addressed on a case-by-case basis with the relevant agency .', 'the company received a subpoena from the district attorney of yolo county , california , requesting records and information regarding its hazardous waste management and disposal practices in california .', 'the company and the office of the district attorney of yolo county engaged in settlement discussions which resulted in the settlement of the matter .', 'a consent decree reflecting the terms of settlement was filed with the yolo county superior court on june 23 , 2017 .', 'under the settlement , the company agreed to a compliance plan and also agreed to pay a civil penalty and fund supplemental environmental projects furthering consumer protection and environmental enforcement in california .', 'the civil penalty did not differ materially from the amount accrued .', 'the cost of the settlement and the compliance with the consent decree will not have a material effect on our consolidated financial position , results of operations or cash flows .', 'the company is also involved in various litigation matters arising in the ordinary course of business .', 'the company believes that any estimated loss related to such matters has been adequately provided for in accrued liabilities to the extent probable and reasonably estimable .', 'accordingly , the company currently expects these matters will be resolved without material adverse effect on its consolidated financial position , results of operations or cash flows .', 'item 4 .', 'mine safety disclosures not applicable. .'] | 791000.0 | TSCO/2017/page_28.pdf-2 | ['the following is a list of distribution locations including the approximate square footage and if the location is leased or owned: .'] | ['longview , texas ( b ) 63000 owned ( a ) the leased facility in hagerstown is treated as an extension of the existing owned hagerstown location and is not considered a separate distribution center .', '( b ) this is a mixing center designed to process certain high-volume bulk products .', 'the company 2019s store support center occupies approximately 260000 square feet of owned building space in brentwood , tennessee , and the company 2019s merchandising innovation center occupies approximately 32000 square feet of leased building space in nashville , tennessee .', 'the company also leases approximately 8000 square feet of building space for the petsense corporate headquarters located in scottsdale , arizona .', 'in fiscal 2017 , we began construction on a new northeast distribution center in frankfort , new york , as well as an expansion of our existing distribution center in waverly , nebraska , which will provide additional distribution capacity once construction is completed .', 'item 3 .', 'legal proceedings item 103 of sec regulation s-k requires disclosure of certain environmental legal proceedings if the proceeding reasonably involves potential monetary sanctions of $ 100000 or more .', 'we periodically receive information requests and notices of potential noncompliance with environmental laws and regulations from governmental agencies , which are addressed on a case-by-case basis with the relevant agency .', 'the company received a subpoena from the district attorney of yolo county , california , requesting records and information regarding its hazardous waste management and disposal practices in california .', 'the company and the office of the district attorney of yolo county engaged in settlement discussions which resulted in the settlement of the matter .', 'a consent decree reflecting the terms of settlement was filed with the yolo county superior court on june 23 , 2017 .', 'under the settlement , the company agreed to a compliance plan and also agreed to pay a civil penalty and fund supplemental environmental projects furthering consumer protection and environmental enforcement in california .', 'the civil penalty did not differ materially from the amount accrued .', 'the cost of the settlement and the compliance with the consent decree will not have a material effect on our consolidated financial position , results of operations or cash flows .', 'the company is also involved in various litigation matters arising in the ordinary course of business .', 'the company believes that any estimated loss related to such matters has been adequately provided for in accrued liabilities to the extent probable and reasonably estimable .', 'accordingly , the company currently expects these matters will be resolved without material adverse effect on its consolidated financial position , results of operations or cash flows .', 'item 4 .', 'mine safety disclosures not applicable. .'] | ========================================
distribution facility location, approximate square footage, owned/leased facility
franklin kentucky, 833000, owned
pendleton indiana, 764000, owned
macon georgia, 684000, owned
waco texas, 666000, owned
casa grande arizona, 650000, owned
hagerstown maryland ( a ), 482000, owned
hagerstown maryland ( a ), 309000, leased
waverly nebraska, 422000, owned
seguin texas ( b ), 71000, owned
lakewood washington, 64000, leased
longview texas ( b ), 63000, owned
======================================== | add(482000, 309000) | 791000.0 |
is the vesting under the 2000 employee equity plan potentially longer than under the directors 1989 plan? | Pre-text: ['a lump sum buyout cost of approximately $ 1.1 million .', 'total rent expense under these leases , included in the accompanying consolidated statements of operations , was approximately $ 893000 , $ 856000 and $ 823000 for the fiscal years ended march 31 , 2001 , 2002 and 2003 , respectively .', 'during the fiscal year ended march 31 , 2000 , the company entered into 36-month operating leases totaling approximately $ 644000 for the lease of office furniture .', 'these leases ended in fiscal year 2003 and at the company 2019s option the furniture was purchased at its fair market value .', 'rental expense recorded for these leases during the fiscal years ended march 31 , 2001 , 2002 and 2003 was approximately $ 215000 , $ 215000 and $ 127000 respectively .', 'during fiscal 2000 , the company entered into a 36-month capital lease for computer equipment and software for approximately $ 221000 .', 'this lease ended in fiscal year 2003 and at the company 2019s option these assets were purchased at the stipulated buyout price .', 'future minimum lease payments under all non-cancelable operating leases as of march 31 , 2003 are approximately as follows ( in thousands ) : .']
------
Data Table:
year ending march 31, | operating leases
2004 | $ 781
2005 | 776
2006 | 776
2007 | 769
2008 | 772
thereafter | 1480
total future minimum lease payments | $ 5354
------
Post-table: ['from time to time , the company is involved in legal and administrative proceedings and claims of various types .', 'while any litigation contains an element of uncertainty , management , in consultation with the company 2019s general counsel , presently believes that the outcome of each such other proceedings or claims which are pending or known to be threatened , or all of them combined , will not have a material adverse effect on the company .', '7 .', 'stock option and purchase plans all stock options granted by the company under the below-described plans were granted at the fair value of the underlying common stock at the date of grant .', 'outstanding stock options , if not exercised , expire 10 years from the date of grant .', 'the 1992 combination stock option plan ( the combination plan ) , as amended , was adopted in september 1992 as a combination and restatement of the company 2019s then outstanding incentive stock option plan and nonqualified plan .', 'a total of 2670859 options were awarded from the combination plan during its ten-year restatement term that ended on may 1 , 2002 .', 'as of march 31 , 2003 , 1286042 of these options remain outstanding and eligible for future exercise .', 'these options are held by company employees and generally become exercisable ratably over five years .', 'the 1998 equity incentive plan , ( the equity incentive plan ) , was adopted by the company in august 1998 .', 'the equity incentive plan provides for grants of options to key employees , directors , advisors and consultants as either incentive stock options or nonqualified stock options as determined by the company 2019s board of directors .', 'a maximum of 1000000 shares of common stock may be awarded under this plan .', 'options granted under the equity incentive plan are exercisable at such times and subject to such terms as the board of directors may specify at the time of each stock option grant .', 'options outstanding under the equity incentive plan have vesting periods of 3 to 5 years from the date of grant .', 'the 2000 stock incentive plan , ( the 2000 plan ) , was adopted by the company in august 2000 .', 'the 2000 plan provides for grants of options to key employees , directors , advisors and consultants to the company or its subsidiaries as either incentive or nonqualified stock options as determined by the company 2019s board of directors .', 'up to 1400000 shares of common stock may be awarded under the 2000 plan and are exercisable at such times and subject to such terms as the board of directors may specify at the time of each stock option grant .', 'options outstanding under the 2000 plan generally vested 4 years from the date of grant .', 'the company has a nonqualified stock option plan for non-employee directors ( the directors 2019 plan ) .', 'the directors 2019 plan , as amended , was adopted in july 1989 and provides for grants of options to purchase shares of the company 2019s common stock to non-employee directors of the company .', 'up to 400000 shares of common stock may be awarded under the directors 2019 plan .', 'options outstanding under the directors 2019 plan have vesting periods of 1 to 5 years from the date of grant .', 'notes to consolidated financial statements ( continued ) march 31 , 2003 page 25 .'] | no | ABMD/2003/page_27.pdf-1 | ['a lump sum buyout cost of approximately $ 1.1 million .', 'total rent expense under these leases , included in the accompanying consolidated statements of operations , was approximately $ 893000 , $ 856000 and $ 823000 for the fiscal years ended march 31 , 2001 , 2002 and 2003 , respectively .', 'during the fiscal year ended march 31 , 2000 , the company entered into 36-month operating leases totaling approximately $ 644000 for the lease of office furniture .', 'these leases ended in fiscal year 2003 and at the company 2019s option the furniture was purchased at its fair market value .', 'rental expense recorded for these leases during the fiscal years ended march 31 , 2001 , 2002 and 2003 was approximately $ 215000 , $ 215000 and $ 127000 respectively .', 'during fiscal 2000 , the company entered into a 36-month capital lease for computer equipment and software for approximately $ 221000 .', 'this lease ended in fiscal year 2003 and at the company 2019s option these assets were purchased at the stipulated buyout price .', 'future minimum lease payments under all non-cancelable operating leases as of march 31 , 2003 are approximately as follows ( in thousands ) : .'] | ['from time to time , the company is involved in legal and administrative proceedings and claims of various types .', 'while any litigation contains an element of uncertainty , management , in consultation with the company 2019s general counsel , presently believes that the outcome of each such other proceedings or claims which are pending or known to be threatened , or all of them combined , will not have a material adverse effect on the company .', '7 .', 'stock option and purchase plans all stock options granted by the company under the below-described plans were granted at the fair value of the underlying common stock at the date of grant .', 'outstanding stock options , if not exercised , expire 10 years from the date of grant .', 'the 1992 combination stock option plan ( the combination plan ) , as amended , was adopted in september 1992 as a combination and restatement of the company 2019s then outstanding incentive stock option plan and nonqualified plan .', 'a total of 2670859 options were awarded from the combination plan during its ten-year restatement term that ended on may 1 , 2002 .', 'as of march 31 , 2003 , 1286042 of these options remain outstanding and eligible for future exercise .', 'these options are held by company employees and generally become exercisable ratably over five years .', 'the 1998 equity incentive plan , ( the equity incentive plan ) , was adopted by the company in august 1998 .', 'the equity incentive plan provides for grants of options to key employees , directors , advisors and consultants as either incentive stock options or nonqualified stock options as determined by the company 2019s board of directors .', 'a maximum of 1000000 shares of common stock may be awarded under this plan .', 'options granted under the equity incentive plan are exercisable at such times and subject to such terms as the board of directors may specify at the time of each stock option grant .', 'options outstanding under the equity incentive plan have vesting periods of 3 to 5 years from the date of grant .', 'the 2000 stock incentive plan , ( the 2000 plan ) , was adopted by the company in august 2000 .', 'the 2000 plan provides for grants of options to key employees , directors , advisors and consultants to the company or its subsidiaries as either incentive or nonqualified stock options as determined by the company 2019s board of directors .', 'up to 1400000 shares of common stock may be awarded under the 2000 plan and are exercisable at such times and subject to such terms as the board of directors may specify at the time of each stock option grant .', 'options outstanding under the 2000 plan generally vested 4 years from the date of grant .', 'the company has a nonqualified stock option plan for non-employee directors ( the directors 2019 plan ) .', 'the directors 2019 plan , as amended , was adopted in july 1989 and provides for grants of options to purchase shares of the company 2019s common stock to non-employee directors of the company .', 'up to 400000 shares of common stock may be awarded under the directors 2019 plan .', 'options outstanding under the directors 2019 plan have vesting periods of 1 to 5 years from the date of grant .', 'notes to consolidated financial statements ( continued ) march 31 , 2003 page 25 .'] | year ending march 31, | operating leases
2004 | $ 781
2005 | 776
2006 | 776
2007 | 769
2008 | 772
thereafter | 1480
total future minimum lease payments | $ 5354 | greater(4, 5) | no |
what was the percentage of the company 2019s net deferred tax asset attributable to the net u.s . federal dtas | Context: ['the company is currently under audit by the internal revenue service and other major taxing jurisdictions around the world .', 'it is thus reasonably possible that significant changes in the gross balance of unrecognized tax benefits may occur within the next 12 months , but the company does not expect such audits to result in amounts that would cause a significant change to its effective tax rate , other than the following items .', 'the company is currently at irs appeals for the years 1999 20132002 .', 'one of the issues relates to the timing of the inclusion of interchange fees received by the company relating to credit card purchases by its cardholders .', 'it is reasonably possible that within the next 12 months the company can either reach agreement on this issue at appeals or decide to litigate the issue .', 'this issue is presently being litigated by another company in a united states tax court case .', 'the gross uncertain tax position for this item at december 31 , 2008 is $ 542 million .', 'since this is a temporary difference , the only effect to the company 2019s effective tax rate would be due to net interest and state tax rate differentials .', 'if the reserve were to be released , the tax benefit could be as much as $ 168 million .', 'in addition , the company expects to conclude the irs audit of its u.s .', 'federal consolidated income tax returns for the years 2003 20132005 within the next 12 months .', 'the gross uncertain tax position at december 31 , 2008 for the items expected to be resolved is approximately $ 350 million plus gross interest of $ 70 million .', 'the potential net tax benefit to continuing operations could be approximately $ 325 million .', 'the following are the major tax jurisdictions in which the company and its affiliates operate and the earliest tax year subject to examination: .']
Table:
----------------------------------------
jurisdiction, tax year
united states, 2003
mexico, 2006
new york state and city, 2005
united kingdom, 2007
germany, 2000
korea, 2005
japan, 2006
brazil, 2004
----------------------------------------
Post-table: ['foreign pretax earnings approximated $ 10.3 billion in 2008 , $ 9.1 billion in 2007 , and $ 13.6 billion in 2006 ( $ 5.1 billion , $ 0.7 billion and $ 0.9 billion of which , respectively , are in discontinued operations ) .', 'as a u.s .', 'corporation , citigroup and its u.s .', 'subsidiaries are subject to u.s .', 'taxation currently on all foreign pretax earnings earned by a foreign branch .', 'pretax earnings of a foreign subsidiary or affiliate are subject to u.s .', 'taxation when effectively repatriated .', 'the company provides income taxes on the undistributed earnings of non-u.s .', 'subsidiaries except to the extent that such earnings are indefinitely invested outside the united states .', 'at december 31 , 2008 , $ 22.8 billion of accumulated undistributed earnings of non-u.s .', 'subsidiaries were indefinitely invested .', 'at the existing u.s .', 'federal income tax rate , additional taxes ( net of u.s .', 'foreign tax credits ) of $ 6.1 billion would have to be provided if such earnings were remitted currently .', 'the current year 2019s effect on the income tax expense from continuing operations is included in the foreign income tax rate differential line in the reconciliation of the federal statutory rate to the company 2019s effective income tax rate on the previous page .', 'income taxes are not provided for on the company 2019s savings bank base year bad debt reserves that arose before 1988 because under current u.s .', 'tax rules such taxes will become payable only to the extent such amounts are distributed in excess of limits prescribed by federal law .', 'at december 31 , 2008 , the amount of the base year reserves totaled approximately $ 358 million ( subject to a tax of $ 125 million ) .', 'the company has no valuation allowance on deferred tax assets at december 31 , 2008 and december 31 , 2007 .', 'at december 31 , 2008 , the company had a u.s .', 'foreign tax-credit carryforward of $ 10.5 billion , $ 0.4 billion whose expiry date is 2016 , $ 5.3 billion whose expiry date is 2017 and $ 4.8 billion whose expiry date is 2018 .', 'the company has a u.s federal consolidated net operating loss ( nol ) carryforward of approximately $ 13 billion whose expiration date is 2028 .', 'the company also has a general business credit carryforward of $ 0.6 billion whose expiration dates are 2027-2028 .', 'the company has state and local net operating loss carryforwards of $ 16.2 billion and $ 4.9 billion in new york state and new york city , respectively .', 'this consists of $ 2.4 billion and $ 1.2 billion , whose expiration date is 2027 and $ 13.8 billion and $ 3.7 billion whose expiration date is 2028 and for which the company has recorded a deferred-tax asset of $ 1.2 billion , along with less significant net operating losses in various other states for which the company has recorded a deferred-tax asset of $ 399 million and which expire between 2012 and 2028 .', 'in addition , the company has recorded deferred-tax assets in apb 23 subsidiaries for foreign net operating loss carryforwards of $ 130 million ( which expires in 2018 ) and $ 101 million ( with no expiration ) .', 'although realization is not assured , the company believes that the realization of the recognized net deferred tax asset of $ 44.5 billion is more likely than not based on expectations as to future taxable income in the jurisdictions in which it operates and available tax planning strategies , as defined in sfas 109 , that could be implemented if necessary to prevent a carryforward from expiring .', 'the company 2019s net deferred tax asset ( dta ) of $ 44.5 billion consists of approximately $ 36.5 billion of net u.s .', 'federal dtas , $ 4 billion of net state dtas and $ 4 billion of net foreign dtas .', 'included in the net federal dta of $ 36.5 billion are deferred tax liabilities of $ 4 billion that will reverse in the relevant carryforward period and may be used to support the dta .', 'the major components of the u.s .', 'federal dta are $ 10.5 billion in foreign tax-credit carryforwards , $ 4.6 billion in a net-operating-loss carryforward , $ 0.6 billion in a general-business-credit carryforward , $ 19.9 billion in net deductions that have not yet been taken on a tax return , and $ 0.9 billion in compensation deductions , which reduced additional paid-in capital in january 2009 and for which sfas 123 ( r ) did not permit any adjustment to such dta at december 31 , 2008 because the related stock compensation was not yet deductible to the company .', 'in general , citigroup would need to generate approximately $ 85 billion of taxable income during the respective carryforward periods to fully realize its federal , state and local dtas. .'] | 0.82022 | C/2008/page_159.pdf-3 | ['the company is currently under audit by the internal revenue service and other major taxing jurisdictions around the world .', 'it is thus reasonably possible that significant changes in the gross balance of unrecognized tax benefits may occur within the next 12 months , but the company does not expect such audits to result in amounts that would cause a significant change to its effective tax rate , other than the following items .', 'the company is currently at irs appeals for the years 1999 20132002 .', 'one of the issues relates to the timing of the inclusion of interchange fees received by the company relating to credit card purchases by its cardholders .', 'it is reasonably possible that within the next 12 months the company can either reach agreement on this issue at appeals or decide to litigate the issue .', 'this issue is presently being litigated by another company in a united states tax court case .', 'the gross uncertain tax position for this item at december 31 , 2008 is $ 542 million .', 'since this is a temporary difference , the only effect to the company 2019s effective tax rate would be due to net interest and state tax rate differentials .', 'if the reserve were to be released , the tax benefit could be as much as $ 168 million .', 'in addition , the company expects to conclude the irs audit of its u.s .', 'federal consolidated income tax returns for the years 2003 20132005 within the next 12 months .', 'the gross uncertain tax position at december 31 , 2008 for the items expected to be resolved is approximately $ 350 million plus gross interest of $ 70 million .', 'the potential net tax benefit to continuing operations could be approximately $ 325 million .', 'the following are the major tax jurisdictions in which the company and its affiliates operate and the earliest tax year subject to examination: .'] | ['foreign pretax earnings approximated $ 10.3 billion in 2008 , $ 9.1 billion in 2007 , and $ 13.6 billion in 2006 ( $ 5.1 billion , $ 0.7 billion and $ 0.9 billion of which , respectively , are in discontinued operations ) .', 'as a u.s .', 'corporation , citigroup and its u.s .', 'subsidiaries are subject to u.s .', 'taxation currently on all foreign pretax earnings earned by a foreign branch .', 'pretax earnings of a foreign subsidiary or affiliate are subject to u.s .', 'taxation when effectively repatriated .', 'the company provides income taxes on the undistributed earnings of non-u.s .', 'subsidiaries except to the extent that such earnings are indefinitely invested outside the united states .', 'at december 31 , 2008 , $ 22.8 billion of accumulated undistributed earnings of non-u.s .', 'subsidiaries were indefinitely invested .', 'at the existing u.s .', 'federal income tax rate , additional taxes ( net of u.s .', 'foreign tax credits ) of $ 6.1 billion would have to be provided if such earnings were remitted currently .', 'the current year 2019s effect on the income tax expense from continuing operations is included in the foreign income tax rate differential line in the reconciliation of the federal statutory rate to the company 2019s effective income tax rate on the previous page .', 'income taxes are not provided for on the company 2019s savings bank base year bad debt reserves that arose before 1988 because under current u.s .', 'tax rules such taxes will become payable only to the extent such amounts are distributed in excess of limits prescribed by federal law .', 'at december 31 , 2008 , the amount of the base year reserves totaled approximately $ 358 million ( subject to a tax of $ 125 million ) .', 'the company has no valuation allowance on deferred tax assets at december 31 , 2008 and december 31 , 2007 .', 'at december 31 , 2008 , the company had a u.s .', 'foreign tax-credit carryforward of $ 10.5 billion , $ 0.4 billion whose expiry date is 2016 , $ 5.3 billion whose expiry date is 2017 and $ 4.8 billion whose expiry date is 2018 .', 'the company has a u.s federal consolidated net operating loss ( nol ) carryforward of approximately $ 13 billion whose expiration date is 2028 .', 'the company also has a general business credit carryforward of $ 0.6 billion whose expiration dates are 2027-2028 .', 'the company has state and local net operating loss carryforwards of $ 16.2 billion and $ 4.9 billion in new york state and new york city , respectively .', 'this consists of $ 2.4 billion and $ 1.2 billion , whose expiration date is 2027 and $ 13.8 billion and $ 3.7 billion whose expiration date is 2028 and for which the company has recorded a deferred-tax asset of $ 1.2 billion , along with less significant net operating losses in various other states for which the company has recorded a deferred-tax asset of $ 399 million and which expire between 2012 and 2028 .', 'in addition , the company has recorded deferred-tax assets in apb 23 subsidiaries for foreign net operating loss carryforwards of $ 130 million ( which expires in 2018 ) and $ 101 million ( with no expiration ) .', 'although realization is not assured , the company believes that the realization of the recognized net deferred tax asset of $ 44.5 billion is more likely than not based on expectations as to future taxable income in the jurisdictions in which it operates and available tax planning strategies , as defined in sfas 109 , that could be implemented if necessary to prevent a carryforward from expiring .', 'the company 2019s net deferred tax asset ( dta ) of $ 44.5 billion consists of approximately $ 36.5 billion of net u.s .', 'federal dtas , $ 4 billion of net state dtas and $ 4 billion of net foreign dtas .', 'included in the net federal dta of $ 36.5 billion are deferred tax liabilities of $ 4 billion that will reverse in the relevant carryforward period and may be used to support the dta .', 'the major components of the u.s .', 'federal dta are $ 10.5 billion in foreign tax-credit carryforwards , $ 4.6 billion in a net-operating-loss carryforward , $ 0.6 billion in a general-business-credit carryforward , $ 19.9 billion in net deductions that have not yet been taken on a tax return , and $ 0.9 billion in compensation deductions , which reduced additional paid-in capital in january 2009 and for which sfas 123 ( r ) did not permit any adjustment to such dta at december 31 , 2008 because the related stock compensation was not yet deductible to the company .', 'in general , citigroup would need to generate approximately $ 85 billion of taxable income during the respective carryforward periods to fully realize its federal , state and local dtas. .'] | ----------------------------------------
jurisdiction, tax year
united states, 2003
mexico, 2006
new york state and city, 2005
united kingdom, 2007
germany, 2000
korea, 2005
japan, 2006
brazil, 2004
---------------------------------------- | divide(36.5, 44.5) | 0.82022 |
what is the net change in net revenue during 2004 for entergy corporation? | Pre-text: ["entergy corporation and subsidiaries management's financial discussion and analysis net revenue 2004 compared to 2003 net revenue , which is entergy's measure of gross margin , consists of operating revenues net of : 1 ) fuel , fuel-related , and purchased power expenses and 2 ) other regulatory credits .", 'following is an analysis of the change in net revenue comparing 2004 to 2003. .']
Table:
, ( in millions )
2003 net revenue, $ 4214.5
volume/weather, 68.3
summer capacity charges, 17.4
base rates, 10.6
deferred fuel cost revisions, -46.3 ( 46.3 )
price applied to unbilled sales, -19.3 ( 19.3 )
other, -1.2 ( 1.2 )
2004 net revenue, $ 4244.0
Post-table: ['the volume/weather variance resulted primarily from increased usage , partially offset by the effect of milder weather on sales during 2004 compared to 2003 .', 'billed usage increased a total of 2261 gwh in the industrial and commercial sectors .', 'the summer capacity charges variance was due to the amortization in 2003 at entergy gulf states and entergy louisiana of deferred capacity charges for the summer of 2001 .', "entergy gulf states' amortization began in june 2002 and ended in may 2003 .", "entergy louisiana's amortization began in august 2002 and ended in july 2003 .", 'base rates increased net revenue due to a base rate increase at entergy new orleans that became effective in june 2003 .', 'the deferred fuel cost revisions variance resulted primarily from a revision in 2003 to an unbilled sales pricing estimate to more closely align the fuel component of that pricing with expected recoverable fuel costs at entergy louisiana .', 'deferred fuel cost revisions also decreased net revenue due to a revision in 2004 to the estimate of fuel costs filed for recovery at entergy arkansas in the march 2004 energy cost recovery rider .', 'the price applied to unbilled sales variance resulted from a decrease in fuel price in 2004 caused primarily by the effect of nuclear plant outages in 2003 on average fuel costs .', 'gross operating revenues and regulatory credits gross operating revenues include an increase in fuel cost recovery revenues of $ 475 million and $ 18 million in electric and gas sales , respectively , primarily due to higher fuel rates in 2004 resulting from increases in the market prices of purchased power and natural gas .', 'as such , this revenue increase is offset by increased fuel and purchased power expenses .', 'other regulatory credits increased primarily due to the following : 2022 cessation of the grand gulf accelerated recovery tariff that was suspended in july 2003 ; 2022 the amortization in 2003 of deferred capacity charges for summer 2001 power purchases at entergy gulf states and entergy louisiana ; 2022 the deferral in 2004 of $ 14.3 million of capacity charges related to generation resource planning as allowed by the lpsc ; 2022 the deferral in 2004 by entergy louisiana of $ 11.4 million related to the voluntary severance program , in accordance with a proposed stipulation entered into with the lpsc staff ; and .'] | 29.5 | ETR/2004/page_19.pdf-2 | ["entergy corporation and subsidiaries management's financial discussion and analysis net revenue 2004 compared to 2003 net revenue , which is entergy's measure of gross margin , consists of operating revenues net of : 1 ) fuel , fuel-related , and purchased power expenses and 2 ) other regulatory credits .", 'following is an analysis of the change in net revenue comparing 2004 to 2003. .'] | ['the volume/weather variance resulted primarily from increased usage , partially offset by the effect of milder weather on sales during 2004 compared to 2003 .', 'billed usage increased a total of 2261 gwh in the industrial and commercial sectors .', 'the summer capacity charges variance was due to the amortization in 2003 at entergy gulf states and entergy louisiana of deferred capacity charges for the summer of 2001 .', "entergy gulf states' amortization began in june 2002 and ended in may 2003 .", "entergy louisiana's amortization began in august 2002 and ended in july 2003 .", 'base rates increased net revenue due to a base rate increase at entergy new orleans that became effective in june 2003 .', 'the deferred fuel cost revisions variance resulted primarily from a revision in 2003 to an unbilled sales pricing estimate to more closely align the fuel component of that pricing with expected recoverable fuel costs at entergy louisiana .', 'deferred fuel cost revisions also decreased net revenue due to a revision in 2004 to the estimate of fuel costs filed for recovery at entergy arkansas in the march 2004 energy cost recovery rider .', 'the price applied to unbilled sales variance resulted from a decrease in fuel price in 2004 caused primarily by the effect of nuclear plant outages in 2003 on average fuel costs .', 'gross operating revenues and regulatory credits gross operating revenues include an increase in fuel cost recovery revenues of $ 475 million and $ 18 million in electric and gas sales , respectively , primarily due to higher fuel rates in 2004 resulting from increases in the market prices of purchased power and natural gas .', 'as such , this revenue increase is offset by increased fuel and purchased power expenses .', 'other regulatory credits increased primarily due to the following : 2022 cessation of the grand gulf accelerated recovery tariff that was suspended in july 2003 ; 2022 the amortization in 2003 of deferred capacity charges for summer 2001 power purchases at entergy gulf states and entergy louisiana ; 2022 the deferral in 2004 of $ 14.3 million of capacity charges related to generation resource planning as allowed by the lpsc ; 2022 the deferral in 2004 by entergy louisiana of $ 11.4 million related to the voluntary severance program , in accordance with a proposed stipulation entered into with the lpsc staff ; and .'] | , ( in millions )
2003 net revenue, $ 4214.5
volume/weather, 68.3
summer capacity charges, 17.4
base rates, 10.6
deferred fuel cost revisions, -46.3 ( 46.3 )
price applied to unbilled sales, -19.3 ( 19.3 )
other, -1.2 ( 1.2 )
2004 net revenue, $ 4244.0 | subtract(4244.0, 4214.5) | 29.5 |
what percentage of recourse debt as of december 31 , 2010 matures in 2015? | Context: ['the aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2010 , 2009 , and 2008 recourse debt as of december 31 , 2010 is scheduled to reach maturity as set forth in the table below : december 31 , annual maturities ( in millions ) .']
Data Table:
----------------------------------------
Row 1: december 31,, annual maturities ( in millions )
Row 2: 2011, $ 463
Row 3: 2012, 2014
Row 4: 2013, 2014
Row 5: 2014, 497
Row 6: 2015, 500
Row 7: thereafter, 3152
Row 8: total recourse debt, $ 4612
----------------------------------------
Follow-up: ['recourse debt transactions during 2010 , the company redeemed $ 690 million aggregate principal of its 8.75% ( 8.75 % ) second priority senior secured notes due 2013 ( 201cthe 2013 notes 201d ) .', 'the 2013 notes were redeemed at a redemption price equal to 101.458% ( 101.458 % ) of the principal amount redeemed .', 'the company recognized a pre-tax loss on the redemption of the 2013 notes of $ 15 million for the year ended december 31 , 2010 , which is included in 201cother expense 201d in the accompanying consolidated statement of operations .', 'on july 29 , 2010 , the company entered into a second amendment ( 201camendment no .', '2 201d ) to the fourth amended and restated credit and reimbursement agreement , dated as of july 29 , 2008 , among the company , various subsidiary guarantors and various lending institutions ( the 201cexisting credit agreement 201d ) that amends and restates the existing credit agreement ( as so amended and restated by amendment no .', '2 , the 201cfifth amended and restated credit agreement 201d ) .', 'the fifth amended and restated credit agreement adjusted the terms and conditions of the existing credit agreement , including the following changes : 2022 the aggregate commitment for the revolving credit loan facility was increased to $ 800 million ; 2022 the final maturity date of the revolving credit loan facility was extended to january 29 , 2015 ; 2022 changes to the facility fee applicable to the revolving credit loan facility ; 2022 the interest rate margin applicable to the revolving credit loan facility is now based on the credit rating assigned to the loans under the credit agreement , with pricing currently at libor + 3.00% ( 3.00 % ) ; 2022 there is an undrawn fee of 0.625% ( 0.625 % ) per annum ; 2022 the company may incur a combination of additional term loan and revolver commitments so long as total term loan and revolver commitments ( including those currently outstanding ) do not exceed $ 1.4 billion ; and 2022 the negative pledge ( i.e. , a cap on first lien debt ) of $ 3.0 billion .', 'recourse debt covenants and guarantees certain of the company 2019s obligations under the senior secured credit facility are guaranteed by its direct subsidiaries through which the company owns its interests in the aes shady point , aes hawaii , aes warrior run and aes eastern energy businesses .', 'the company 2019s obligations under the senior secured credit facility are , subject to certain exceptions , secured by : ( i ) all of the capital stock of domestic subsidiaries owned directly by the company and 65% ( 65 % ) of the capital stock of certain foreign subsidiaries owned directly or indirectly by the company ; and .'] | 0.10841 | AES/2010/page_227.pdf-2 | ['the aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2010 , 2009 , and 2008 recourse debt as of december 31 , 2010 is scheduled to reach maturity as set forth in the table below : december 31 , annual maturities ( in millions ) .'] | ['recourse debt transactions during 2010 , the company redeemed $ 690 million aggregate principal of its 8.75% ( 8.75 % ) second priority senior secured notes due 2013 ( 201cthe 2013 notes 201d ) .', 'the 2013 notes were redeemed at a redemption price equal to 101.458% ( 101.458 % ) of the principal amount redeemed .', 'the company recognized a pre-tax loss on the redemption of the 2013 notes of $ 15 million for the year ended december 31 , 2010 , which is included in 201cother expense 201d in the accompanying consolidated statement of operations .', 'on july 29 , 2010 , the company entered into a second amendment ( 201camendment no .', '2 201d ) to the fourth amended and restated credit and reimbursement agreement , dated as of july 29 , 2008 , among the company , various subsidiary guarantors and various lending institutions ( the 201cexisting credit agreement 201d ) that amends and restates the existing credit agreement ( as so amended and restated by amendment no .', '2 , the 201cfifth amended and restated credit agreement 201d ) .', 'the fifth amended and restated credit agreement adjusted the terms and conditions of the existing credit agreement , including the following changes : 2022 the aggregate commitment for the revolving credit loan facility was increased to $ 800 million ; 2022 the final maturity date of the revolving credit loan facility was extended to january 29 , 2015 ; 2022 changes to the facility fee applicable to the revolving credit loan facility ; 2022 the interest rate margin applicable to the revolving credit loan facility is now based on the credit rating assigned to the loans under the credit agreement , with pricing currently at libor + 3.00% ( 3.00 % ) ; 2022 there is an undrawn fee of 0.625% ( 0.625 % ) per annum ; 2022 the company may incur a combination of additional term loan and revolver commitments so long as total term loan and revolver commitments ( including those currently outstanding ) do not exceed $ 1.4 billion ; and 2022 the negative pledge ( i.e. , a cap on first lien debt ) of $ 3.0 billion .', 'recourse debt covenants and guarantees certain of the company 2019s obligations under the senior secured credit facility are guaranteed by its direct subsidiaries through which the company owns its interests in the aes shady point , aes hawaii , aes warrior run and aes eastern energy businesses .', 'the company 2019s obligations under the senior secured credit facility are , subject to certain exceptions , secured by : ( i ) all of the capital stock of domestic subsidiaries owned directly by the company and 65% ( 65 % ) of the capital stock of certain foreign subsidiaries owned directly or indirectly by the company ; and .'] | ----------------------------------------
Row 1: december 31,, annual maturities ( in millions )
Row 2: 2011, $ 463
Row 3: 2012, 2014
Row 4: 2013, 2014
Row 5: 2014, 497
Row 6: 2015, 500
Row 7: thereafter, 3152
Row 8: total recourse debt, $ 4612
---------------------------------------- | divide(500, 4612) | 0.10841 |
what percentage of total cash and investments as of dec . 29 2012 was comprised of available-for-sale investments? | Background: ['the fair value of our grants receivable is determined using a discounted cash flow model , which discounts future cash flows using an appropriate yield curve .', 'as of december 28 , 2013 , and december 29 , 2012 , the carrying amount of our grants receivable was classified within other current assets and other long-term assets , as applicable .', 'our long-term debt recognized at amortized cost is comprised of our senior notes and our convertible debentures .', 'the fair value of our senior notes is determined using active market prices , and it is therefore classified as level 1 .', 'the fair value of our convertible long-term debt is determined using discounted cash flow models with observable market inputs , and it takes into consideration variables such as interest rate changes , comparable securities , subordination discount , and credit-rating changes , and it is therefore classified as level 2 .', 'the nvidia corporation ( nvidia ) cross-license agreement liability in the preceding table was incurred as a result of entering into a long-term patent cross-license agreement with nvidia in january 2011 .', 'we agreed to make payments to nvidia over six years .', 'as of december 28 , 2013 , and december 29 , 2012 , the carrying amount of the liability arising from the agreement was classified within other accrued liabilities and other long-term liabilities , as applicable .', 'the fair value is determined using a discounted cash flow model , which discounts future cash flows using our incremental borrowing rates .', 'note 5 : cash and investments cash and investments at the end of each period were as follows : ( in millions ) dec 28 , dec 29 .']
Table:
========================================
( in millions ), dec 282013, dec 292012
available-for-sale investments, $ 18086, $ 14001
cash, 854, 593
equity method investments, 1038, 992
loans receivable, 1072, 979
non-marketable cost method investments, 1270, 1202
reverse repurchase agreements, 800, 2850
trading assets, 8441, 5685
total cash and investments, $ 31561, $ 26302
========================================
Post-table: ['in the third quarter of 2013 , we sold our shares in clearwire corporation , which had been accounted for as available-for-sale marketable equity securities , and our interest in clearwire communications , llc ( clearwire llc ) , which had been accounted for as an equity method investment .', 'in total , we received proceeds of $ 470 million on these transactions and recognized a gain of $ 439 million , which is included in gains ( losses ) on equity investments , net on the consolidated statements of income .', 'proceeds received and gains recognized for each investment are included in the "available-for-sale investments" and "equity method investments" sections that follow .', 'table of contents intel corporation notes to consolidated financial statements ( continued ) .'] | 0.53232 | INTC/2013/page_71.pdf-4 | ['the fair value of our grants receivable is determined using a discounted cash flow model , which discounts future cash flows using an appropriate yield curve .', 'as of december 28 , 2013 , and december 29 , 2012 , the carrying amount of our grants receivable was classified within other current assets and other long-term assets , as applicable .', 'our long-term debt recognized at amortized cost is comprised of our senior notes and our convertible debentures .', 'the fair value of our senior notes is determined using active market prices , and it is therefore classified as level 1 .', 'the fair value of our convertible long-term debt is determined using discounted cash flow models with observable market inputs , and it takes into consideration variables such as interest rate changes , comparable securities , subordination discount , and credit-rating changes , and it is therefore classified as level 2 .', 'the nvidia corporation ( nvidia ) cross-license agreement liability in the preceding table was incurred as a result of entering into a long-term patent cross-license agreement with nvidia in january 2011 .', 'we agreed to make payments to nvidia over six years .', 'as of december 28 , 2013 , and december 29 , 2012 , the carrying amount of the liability arising from the agreement was classified within other accrued liabilities and other long-term liabilities , as applicable .', 'the fair value is determined using a discounted cash flow model , which discounts future cash flows using our incremental borrowing rates .', 'note 5 : cash and investments cash and investments at the end of each period were as follows : ( in millions ) dec 28 , dec 29 .'] | ['in the third quarter of 2013 , we sold our shares in clearwire corporation , which had been accounted for as available-for-sale marketable equity securities , and our interest in clearwire communications , llc ( clearwire llc ) , which had been accounted for as an equity method investment .', 'in total , we received proceeds of $ 470 million on these transactions and recognized a gain of $ 439 million , which is included in gains ( losses ) on equity investments , net on the consolidated statements of income .', 'proceeds received and gains recognized for each investment are included in the "available-for-sale investments" and "equity method investments" sections that follow .', 'table of contents intel corporation notes to consolidated financial statements ( continued ) .'] | ========================================
( in millions ), dec 282013, dec 292012
available-for-sale investments, $ 18086, $ 14001
cash, 854, 593
equity method investments, 1038, 992
loans receivable, 1072, 979
non-marketable cost method investments, 1270, 1202
reverse repurchase agreements, 800, 2850
trading assets, 8441, 5685
total cash and investments, $ 31561, $ 26302
======================================== | divide(14001, 26302) | 0.53232 |
what was the percentage change in net sales from 2017 to 2018 | Context: ['continued investments in ecommerce and technology .', 'the increase in operating expenses as a percentage of net sales for fiscal 2017 was partially offset by the impact of store closures in the fourth quarter of fiscal 2016 .', 'membership and other income was relatively flat for fiscal 2018 and increased $ 1.0 billion a0for fiscal 2017 , when compared to the same period in the previous fiscal year .', "while fiscal 2018 included a $ 387 million gain from the sale of suburbia , a $ 47 million gain from a land sale , higher recycling income from our sustainability efforts and higher membership income from increased plus member penetration at sam's club , these gains were less than gains recognized in fiscal 2017 .", 'fiscal 2017 included a $ 535 million gain from the sale of our yihaodian business and a $ 194 million gain from the sale of shopping malls in chile .', 'for fiscal 2018 , loss on extinguishment of debt was a0$ 3.1 billion , due to the early extinguishment of long-term debt which allowed us to retire higher rate debt to reduce interest expense in future periods .', 'our effective income tax rate was 30.4% ( 30.4 % ) for fiscal 2018 and 30.3% ( 30.3 % ) for both fiscal 2017 and 2016 .', 'although relatively consistent year-over-year , our effective income tax rate may fluctuate from period to period as a result of factors including changes in our assessment of certain tax contingencies , valuation allowances , changes in tax laws , outcomes of administrative audits , the impact of discrete items and the mix of earnings among our u.s .', 'operations and international operations .', 'the reconciliation from the u.s .', 'statutory rate to the effective income tax rates for fiscal 2018 , 2017 and 2016 is presented in note 9 in the "notes to consolidated financial statements" and describes the impact of the enactment of the tax cuts and jobs act of 2017 ( the "tax act" ) to the fiscal 2018 effective income tax rate .', 'as a result of the factors discussed above , we reported $ 10.5 billion and $ 14.3 billion of consolidated net income for fiscal 2018 and 2017 , respectively , which represents a decrease of $ 3.8 billion and $ 0.8 billion for fiscal 2018 and 2017 , respectively , when compared to the previous fiscal year .', 'diluted net income per common share attributable to walmart ( "eps" ) was $ 3.28 and $ 4.38 for fiscal 2018 and 2017 , respectively .', 'walmart u.s .', 'segment .']
Table:
========================================
( amounts in millions except unit counts ), fiscal years ended january 31 , 2018, fiscal years ended january 31 , 2017, fiscal years ended january 31 , 2016
net sales, $ 318477, $ 307833, $ 298378
percentage change from comparable period, 3.5% ( 3.5 % ), 3.2% ( 3.2 % ), 3.6% ( 3.6 % )
calendar comparable sales increase, 2.1% ( 2.1 % ), 1.6% ( 1.6 % ), 1.0% ( 1.0 % )
operating income, $ 17869, $ 17745, $ 19087
operating income as a percentage of net sales, 5.6% ( 5.6 % ), 5.8% ( 5.8 % ), 6.4% ( 6.4 % )
unit counts at period end, 4761, 4672, 4574
retail square feet at period end, 705, 699, 690
========================================
Additional Information: ['net sales for the walmart u.s .', 'segment increased $ 10.6 billion or 3.5% ( 3.5 % ) and $ 9.5 billion or 3.2% ( 3.2 % ) for fiscal 2018 and 2017 , respectively , when compared to the previous fiscal year .', 'the increases in net sales were primarily due to increases in comparable store sales of 2.1% ( 2.1 % ) and 1.6% ( 1.6 % ) for fiscal 2018 and 2017 , respectively , and year-over-year growth in retail square feet of 0.7% ( 0.7 % ) and 1.4% ( 1.4 % ) for fiscal 2018 and 2017 , respectively .', 'additionally , for fiscal 2018 , sales generated from ecommerce acquisitions further contributed to the year-over-year increase .', 'gross profit rate decreased 24 basis points for fiscal 2018 and increased 24 basis points for fiscal 2017 , when compared to the previous fiscal year .', 'for fiscal 2018 , the decrease was primarily due to strategic price investments and the mix impact from ecommerce .', 'partially offsetting the negative factors for fiscal 2018 was the positive impact of savings from procuring merchandise .', 'for fiscal 2017 , the increase in gross profit rate was primarily due to improved margin in food and consumables , including the impact of savings in procuring merchandise and lower transportation expense from lower fuel costs .', 'operating expenses as a percentage of segment net sales was relatively flat for fiscal 2018 and increased 101 basis points for fiscal 2017 , when compared to the previous fiscal year .', 'fiscal 2018 and fiscal 2017 included charges related to discontinued real estate projects of $ 244 million and $ 249 million , respectively .', 'for fiscal 2017 , the increase was primarily driven by an increase in wage expense due to the investment in the associate wage structure ; the charge related to discontinued real estate projects ; and investments in digital retail and technology .', 'the increase in operating expenses as a percentage of segment net sales for fiscal 2017 was partially offset by the impact of store closures in fiscal 2016 .', 'as a result of the factors discussed above , segment operating income increased $ 124 million for fiscal 2018 and decreased $ 1.3 billion for fiscal 2017 , respectively. .'] | 0.03458 | WMT/2018/page_46.pdf-3 | ['continued investments in ecommerce and technology .', 'the increase in operating expenses as a percentage of net sales for fiscal 2017 was partially offset by the impact of store closures in the fourth quarter of fiscal 2016 .', 'membership and other income was relatively flat for fiscal 2018 and increased $ 1.0 billion a0for fiscal 2017 , when compared to the same period in the previous fiscal year .', "while fiscal 2018 included a $ 387 million gain from the sale of suburbia , a $ 47 million gain from a land sale , higher recycling income from our sustainability efforts and higher membership income from increased plus member penetration at sam's club , these gains were less than gains recognized in fiscal 2017 .", 'fiscal 2017 included a $ 535 million gain from the sale of our yihaodian business and a $ 194 million gain from the sale of shopping malls in chile .', 'for fiscal 2018 , loss on extinguishment of debt was a0$ 3.1 billion , due to the early extinguishment of long-term debt which allowed us to retire higher rate debt to reduce interest expense in future periods .', 'our effective income tax rate was 30.4% ( 30.4 % ) for fiscal 2018 and 30.3% ( 30.3 % ) for both fiscal 2017 and 2016 .', 'although relatively consistent year-over-year , our effective income tax rate may fluctuate from period to period as a result of factors including changes in our assessment of certain tax contingencies , valuation allowances , changes in tax laws , outcomes of administrative audits , the impact of discrete items and the mix of earnings among our u.s .', 'operations and international operations .', 'the reconciliation from the u.s .', 'statutory rate to the effective income tax rates for fiscal 2018 , 2017 and 2016 is presented in note 9 in the "notes to consolidated financial statements" and describes the impact of the enactment of the tax cuts and jobs act of 2017 ( the "tax act" ) to the fiscal 2018 effective income tax rate .', 'as a result of the factors discussed above , we reported $ 10.5 billion and $ 14.3 billion of consolidated net income for fiscal 2018 and 2017 , respectively , which represents a decrease of $ 3.8 billion and $ 0.8 billion for fiscal 2018 and 2017 , respectively , when compared to the previous fiscal year .', 'diluted net income per common share attributable to walmart ( "eps" ) was $ 3.28 and $ 4.38 for fiscal 2018 and 2017 , respectively .', 'walmart u.s .', 'segment .'] | ['net sales for the walmart u.s .', 'segment increased $ 10.6 billion or 3.5% ( 3.5 % ) and $ 9.5 billion or 3.2% ( 3.2 % ) for fiscal 2018 and 2017 , respectively , when compared to the previous fiscal year .', 'the increases in net sales were primarily due to increases in comparable store sales of 2.1% ( 2.1 % ) and 1.6% ( 1.6 % ) for fiscal 2018 and 2017 , respectively , and year-over-year growth in retail square feet of 0.7% ( 0.7 % ) and 1.4% ( 1.4 % ) for fiscal 2018 and 2017 , respectively .', 'additionally , for fiscal 2018 , sales generated from ecommerce acquisitions further contributed to the year-over-year increase .', 'gross profit rate decreased 24 basis points for fiscal 2018 and increased 24 basis points for fiscal 2017 , when compared to the previous fiscal year .', 'for fiscal 2018 , the decrease was primarily due to strategic price investments and the mix impact from ecommerce .', 'partially offsetting the negative factors for fiscal 2018 was the positive impact of savings from procuring merchandise .', 'for fiscal 2017 , the increase in gross profit rate was primarily due to improved margin in food and consumables , including the impact of savings in procuring merchandise and lower transportation expense from lower fuel costs .', 'operating expenses as a percentage of segment net sales was relatively flat for fiscal 2018 and increased 101 basis points for fiscal 2017 , when compared to the previous fiscal year .', 'fiscal 2018 and fiscal 2017 included charges related to discontinued real estate projects of $ 244 million and $ 249 million , respectively .', 'for fiscal 2017 , the increase was primarily driven by an increase in wage expense due to the investment in the associate wage structure ; the charge related to discontinued real estate projects ; and investments in digital retail and technology .', 'the increase in operating expenses as a percentage of segment net sales for fiscal 2017 was partially offset by the impact of store closures in fiscal 2016 .', 'as a result of the factors discussed above , segment operating income increased $ 124 million for fiscal 2018 and decreased $ 1.3 billion for fiscal 2017 , respectively. .'] | ========================================
( amounts in millions except unit counts ), fiscal years ended january 31 , 2018, fiscal years ended january 31 , 2017, fiscal years ended january 31 , 2016
net sales, $ 318477, $ 307833, $ 298378
percentage change from comparable period, 3.5% ( 3.5 % ), 3.2% ( 3.2 % ), 3.6% ( 3.6 % )
calendar comparable sales increase, 2.1% ( 2.1 % ), 1.6% ( 1.6 % ), 1.0% ( 1.0 % )
operating income, $ 17869, $ 17745, $ 19087
operating income as a percentage of net sales, 5.6% ( 5.6 % ), 5.8% ( 5.8 % ), 6.4% ( 6.4 % )
unit counts at period end, 4761, 4672, 4574
retail square feet at period end, 705, 699, 690
======================================== | subtract(318477, 307833), divide(#0, 307833) | 0.03458 |
what is the percentage change in the average price per gallon of aircraft fuel from 2016 to 2017? | Context: ['( 2 ) our union-represented mainline employees are covered by agreements that are not currently amendable .', 'joint collective bargaining agreements ( jcbas ) have been reached with post-merger employee groups , except the maintenance , fleet service , stock clerks , maintenance control technicians and maintenance training instructors represented by the twu-iam association who are covered by separate cbas that become amendable in the third quarter of 2018 .', 'until those agreements become amendable , negotiations for jcbas will be conducted outside the traditional rla bargaining process as described above , and , in the meantime , no self-help will be permissible .', '( 3 ) among our wholly-owned regional subsidiaries , the psa mechanics and flight attendants have agreements that are now amendable and are engaged in traditional rla negotiations .', 'the envoy passenger service employees are engaged in traditional rla negotiations for an initial cba .', 'the piedmont fleet and passenger service employees have reached a tentative five-year agreement which is subject to membership ratification .', 'for more discussion , see part i , item 1a .', 'risk factors 2013 201cunion disputes , employee strikes and other labor-related disruptions may adversely affect our operations . 201d aircraft fuel our operations and financial results are significantly affected by the availability and price of jet fuel , which is our second largest expense .', 'based on our 2018 forecasted mainline and regional fuel consumption , we estimate that a one cent per gallon increase in aviation fuel price would increase our 2018 annual fuel expense by $ 45 million .', 'the following table shows annual aircraft fuel consumption and costs , including taxes , for our mainline and regional operations for 2017 , 2016 and 2015 ( gallons and aircraft fuel expense in millions ) .', 'year gallons average price per gallon aircraft fuel expense percent of total operating expenses .']
Tabular Data:
Row 1: year, gallons, average priceper gallon, aircraft fuelexpense, percent of totaloperating expenses
Row 2: 2017, 4352, $ 1.73, $ 7510, 19.7% ( 19.7 % )
Row 3: 2016, 4347, 1.42, 6180, 17.7% ( 17.7 % )
Row 4: 2015, 4323, 1.72, 7456, 21.4% ( 21.4 % )
Follow-up: ['as of december 31 , 2017 , we did not have any fuel hedging contracts outstanding to hedge our fuel consumption .', 'as such , and assuming we do not enter into any future transactions to hedge our fuel consumption , we will continue to be fully exposed to fluctuations in fuel prices .', 'our current policy is not to enter into transactions to hedge our fuel consumption , although we review that policy from time to time based on market conditions and other factors .', 'fuel prices have fluctuated substantially over the past several years .', 'we cannot predict the future availability , price volatility or cost of aircraft fuel .', 'natural disasters ( including hurricanes or similar events in the u.s .', 'southeast and on the gulf coast where a significant portion of domestic refining capacity is located ) , political disruptions or wars involving oil-producing countries , changes in fuel-related governmental policy , the strength of the u.s .', 'dollar against foreign currencies , changes in access to petroleum product pipelines and terminals , speculation in the energy futures markets , changes in aircraft fuel production capacity , environmental concerns and other unpredictable events may result in fuel supply shortages , distribution challenges , additional fuel price volatility and cost increases in the future .', 'see part i , item 1a .', 'risk factors 2013 201cour business is very dependent on the price and availability of aircraft fuel .', 'continued periods of high volatility in fuel costs , increased fuel prices or significant disruptions in the supply of aircraft fuel could have a significant negative impact on our operating results and liquidity . 201d seasonality and other factors due to the greater demand for air travel during the summer months , revenues in the airline industry in the second and third quarters of the year tend to be greater than revenues in the first and fourth quarters of the year .', 'general economic conditions , fears of terrorism or war , fare initiatives , fluctuations in fuel prices , labor actions , weather , natural disasters , outbreaks of disease and other factors could impact this seasonal pattern .', 'therefore , our quarterly results of operations are not necessarily indicative of operating results for the entire year , and historical operating results in a quarterly or annual period are not necessarily indicative of future operating results. .'] | 0.21831 | AAL/2017/page_10.pdf-3 | ['( 2 ) our union-represented mainline employees are covered by agreements that are not currently amendable .', 'joint collective bargaining agreements ( jcbas ) have been reached with post-merger employee groups , except the maintenance , fleet service , stock clerks , maintenance control technicians and maintenance training instructors represented by the twu-iam association who are covered by separate cbas that become amendable in the third quarter of 2018 .', 'until those agreements become amendable , negotiations for jcbas will be conducted outside the traditional rla bargaining process as described above , and , in the meantime , no self-help will be permissible .', '( 3 ) among our wholly-owned regional subsidiaries , the psa mechanics and flight attendants have agreements that are now amendable and are engaged in traditional rla negotiations .', 'the envoy passenger service employees are engaged in traditional rla negotiations for an initial cba .', 'the piedmont fleet and passenger service employees have reached a tentative five-year agreement which is subject to membership ratification .', 'for more discussion , see part i , item 1a .', 'risk factors 2013 201cunion disputes , employee strikes and other labor-related disruptions may adversely affect our operations . 201d aircraft fuel our operations and financial results are significantly affected by the availability and price of jet fuel , which is our second largest expense .', 'based on our 2018 forecasted mainline and regional fuel consumption , we estimate that a one cent per gallon increase in aviation fuel price would increase our 2018 annual fuel expense by $ 45 million .', 'the following table shows annual aircraft fuel consumption and costs , including taxes , for our mainline and regional operations for 2017 , 2016 and 2015 ( gallons and aircraft fuel expense in millions ) .', 'year gallons average price per gallon aircraft fuel expense percent of total operating expenses .'] | ['as of december 31 , 2017 , we did not have any fuel hedging contracts outstanding to hedge our fuel consumption .', 'as such , and assuming we do not enter into any future transactions to hedge our fuel consumption , we will continue to be fully exposed to fluctuations in fuel prices .', 'our current policy is not to enter into transactions to hedge our fuel consumption , although we review that policy from time to time based on market conditions and other factors .', 'fuel prices have fluctuated substantially over the past several years .', 'we cannot predict the future availability , price volatility or cost of aircraft fuel .', 'natural disasters ( including hurricanes or similar events in the u.s .', 'southeast and on the gulf coast where a significant portion of domestic refining capacity is located ) , political disruptions or wars involving oil-producing countries , changes in fuel-related governmental policy , the strength of the u.s .', 'dollar against foreign currencies , changes in access to petroleum product pipelines and terminals , speculation in the energy futures markets , changes in aircraft fuel production capacity , environmental concerns and other unpredictable events may result in fuel supply shortages , distribution challenges , additional fuel price volatility and cost increases in the future .', 'see part i , item 1a .', 'risk factors 2013 201cour business is very dependent on the price and availability of aircraft fuel .', 'continued periods of high volatility in fuel costs , increased fuel prices or significant disruptions in the supply of aircraft fuel could have a significant negative impact on our operating results and liquidity . 201d seasonality and other factors due to the greater demand for air travel during the summer months , revenues in the airline industry in the second and third quarters of the year tend to be greater than revenues in the first and fourth quarters of the year .', 'general economic conditions , fears of terrorism or war , fare initiatives , fluctuations in fuel prices , labor actions , weather , natural disasters , outbreaks of disease and other factors could impact this seasonal pattern .', 'therefore , our quarterly results of operations are not necessarily indicative of operating results for the entire year , and historical operating results in a quarterly or annual period are not necessarily indicative of future operating results. .'] | Row 1: year, gallons, average priceper gallon, aircraft fuelexpense, percent of totaloperating expenses
Row 2: 2017, 4352, $ 1.73, $ 7510, 19.7% ( 19.7 % )
Row 3: 2016, 4347, 1.42, 6180, 17.7% ( 17.7 % )
Row 4: 2015, 4323, 1.72, 7456, 21.4% ( 21.4 % ) | subtract(1.73, 1.42), divide(#0, 1.42) | 0.21831 |
prior to the shares repurchased in 2007 , how many shares of common stock were outstanding? | Pre-text: ['as of february 15 , 2008 , there were 138311810 shares of our common stock outstanding held by approximately 2979 stockholders of record .', 'dividends and distributions we pay regular quarterly dividends to holders of our common stock .', 'on february 13 , 2008 , our board of directors declared the first quarterly installment of our 2008 dividend in the amount of $ 0.5125 per share , payable on march 28 , 2008 to stockholders of record on march 6 , 2008 .', 'we expect to distribute 100% ( 100 % ) or more of our taxable net income to our stockholders for 2008 .', 'our board of directors normally makes decisions regarding the frequency and amount of our dividends on a quarterly basis .', 'because the board considers a number of factors when making these decisions , we cannot assure you that we will maintain the policy stated above .', 'please see 201ccautionary statements 201d and the risk factors included in part i , item 1a of this annual report on form 10-k for a description of other factors that may affect our distribution policy .', 'our stockholders may reinvest all or a portion of any cash distribution on their shares of our common stock by participating in our distribution reinvestment and stock purchase plan , subject to the terms of the plan .', 'see 201cnote 16 2014capital stock 201d of the notes to consolidated financial statements included in part ii , item 8 of this annual report on form 10-k .', 'director and employee stock sales certain of our directors , executive officers and other employees have adopted and may , from time to time in the future , adopt non-discretionary , written trading plans that comply with rule 10b5-1 under the exchange act , or otherwise monetize their equity-based compensation .', 'stock repurchases the table below summarizes repurchases of our common stock made during the quarter ended december 31 , 2007 : number of shares repurchased ( 1 ) average price per .']
Table:
****************************************
, number of shares repurchased ( 1 ), average price per share
october 1 through october 31, 2014, 2014
november 1 through november 30, 2014, 2014
december 1 through december 31, 14669, $ 43.89
****************************************
Additional Information: ['( 1 ) repurchases represent shares withheld to pay taxes on the vesting of restricted stock granted to employees. .'] | 138326479.0 | VTR/2007/page_47.pdf-1 | ['as of february 15 , 2008 , there were 138311810 shares of our common stock outstanding held by approximately 2979 stockholders of record .', 'dividends and distributions we pay regular quarterly dividends to holders of our common stock .', 'on february 13 , 2008 , our board of directors declared the first quarterly installment of our 2008 dividend in the amount of $ 0.5125 per share , payable on march 28 , 2008 to stockholders of record on march 6 , 2008 .', 'we expect to distribute 100% ( 100 % ) or more of our taxable net income to our stockholders for 2008 .', 'our board of directors normally makes decisions regarding the frequency and amount of our dividends on a quarterly basis .', 'because the board considers a number of factors when making these decisions , we cannot assure you that we will maintain the policy stated above .', 'please see 201ccautionary statements 201d and the risk factors included in part i , item 1a of this annual report on form 10-k for a description of other factors that may affect our distribution policy .', 'our stockholders may reinvest all or a portion of any cash distribution on their shares of our common stock by participating in our distribution reinvestment and stock purchase plan , subject to the terms of the plan .', 'see 201cnote 16 2014capital stock 201d of the notes to consolidated financial statements included in part ii , item 8 of this annual report on form 10-k .', 'director and employee stock sales certain of our directors , executive officers and other employees have adopted and may , from time to time in the future , adopt non-discretionary , written trading plans that comply with rule 10b5-1 under the exchange act , or otherwise monetize their equity-based compensation .', 'stock repurchases the table below summarizes repurchases of our common stock made during the quarter ended december 31 , 2007 : number of shares repurchased ( 1 ) average price per .'] | ['( 1 ) repurchases represent shares withheld to pay taxes on the vesting of restricted stock granted to employees. .'] | ****************************************
, number of shares repurchased ( 1 ), average price per share
october 1 through october 31, 2014, 2014
november 1 through november 30, 2014, 2014
december 1 through december 31, 14669, $ 43.89
**************************************** | add(138311810, 14669) | 138326479.0 |
as of december 31 , 2013 what was the ratio of the restricted cash and marketable securities to the balance in the allowance for doubtful accounts | Context: ['republic services , inc .', 'notes to consolidated financial statements 2014 ( continued ) credit exposure , we continually monitor the credit worthiness of the financial institutions where we have deposits .', 'concentrations of credit risk with respect to trade accounts receivable are limited due to the wide variety of customers and markets in which we provide services , as well as the dispersion of our operations across many geographic areas .', 'we provide services to commercial , industrial , municipal and residential customers in the united states and puerto rico .', 'we perform ongoing credit evaluations of our customers , but generally do not require collateral to support customer receivables .', 'we establish an allowance for doubtful accounts based on various factors including the credit risk of specific customers , age of receivables outstanding , historical trends , economic conditions and other information .', 'accounts receivable , net of allowance for doubtful accounts accounts receivable represent receivables from customers for collection , transfer , recycling , disposal and other services .', 'our receivables are recorded when billed or when the related revenue is earned , if earlier , and represent claims against third parties that will be settled in cash .', 'the carrying value of our receivables , net of the allowance for doubtful accounts , represents their estimated net realizable value .', 'provisions for doubtful accounts are evaluated on a monthly basis and are recorded based on our historical collection experience , the age of the receivables , specific customer information and economic conditions .', 'we also review outstanding balances on an account-specific basis .', 'in general , reserves are provided for accounts receivable in excess of 90 days outstanding .', 'past due receivable balances are written-off when our collection efforts have been unsuccessful in collecting amounts due .', 'the following table reflects the activity in our allowance for doubtful accounts for the years ended december 31 , 2013 , 2012 and 2011: .']
------
Data Table:
========================================
, 2013, 2012, 2011
balance at beginning of year, $ 45.3, $ 48.1, $ 50.9
additions charged to expense, 16.1, 29.7, 21.0
accounts written-off, -23.1 ( 23.1 ), -32.5 ( 32.5 ), -23.8 ( 23.8 )
balance at end of year, $ 38.3, $ 45.3, $ 48.1
========================================
------
Follow-up: ['restricted cash and marketable securities as of december 31 , 2013 , we had $ 169.7 million of restricted cash and marketable securities .', 'we obtain funds through the issuance of tax-exempt bonds for the purpose of financing qualifying expenditures at our landfills , transfer stations , collection and recycling centers .', 'the funds are deposited directly into trust accounts by the bonding authorities at the time of issuance .', 'as the use of these funds is contractually restricted , and we do not have the ability to use these funds for general operating purposes , they are classified as restricted cash and marketable securities in our consolidated balance sheets .', 'in the normal course of business , we may be required to provide financial assurance to governmental agencies and a variety of other entities in connection with municipal residential collection contracts , closure or post- closure of landfills , environmental remediation , environmental permits , and business licenses and permits as a financial guarantee of our performance .', 'at several of our landfills , we satisfy financial assurance requirements by depositing cash into restricted trust funds or escrow accounts .', 'property and equipment we record property and equipment at cost .', 'expenditures for major additions and improvements to facilities are capitalized , while maintenance and repairs are charged to expense as incurred .', 'when property is retired or .'] | 4.43081 | RSG/2013/page_92.pdf-2 | ['republic services , inc .', 'notes to consolidated financial statements 2014 ( continued ) credit exposure , we continually monitor the credit worthiness of the financial institutions where we have deposits .', 'concentrations of credit risk with respect to trade accounts receivable are limited due to the wide variety of customers and markets in which we provide services , as well as the dispersion of our operations across many geographic areas .', 'we provide services to commercial , industrial , municipal and residential customers in the united states and puerto rico .', 'we perform ongoing credit evaluations of our customers , but generally do not require collateral to support customer receivables .', 'we establish an allowance for doubtful accounts based on various factors including the credit risk of specific customers , age of receivables outstanding , historical trends , economic conditions and other information .', 'accounts receivable , net of allowance for doubtful accounts accounts receivable represent receivables from customers for collection , transfer , recycling , disposal and other services .', 'our receivables are recorded when billed or when the related revenue is earned , if earlier , and represent claims against third parties that will be settled in cash .', 'the carrying value of our receivables , net of the allowance for doubtful accounts , represents their estimated net realizable value .', 'provisions for doubtful accounts are evaluated on a monthly basis and are recorded based on our historical collection experience , the age of the receivables , specific customer information and economic conditions .', 'we also review outstanding balances on an account-specific basis .', 'in general , reserves are provided for accounts receivable in excess of 90 days outstanding .', 'past due receivable balances are written-off when our collection efforts have been unsuccessful in collecting amounts due .', 'the following table reflects the activity in our allowance for doubtful accounts for the years ended december 31 , 2013 , 2012 and 2011: .'] | ['restricted cash and marketable securities as of december 31 , 2013 , we had $ 169.7 million of restricted cash and marketable securities .', 'we obtain funds through the issuance of tax-exempt bonds for the purpose of financing qualifying expenditures at our landfills , transfer stations , collection and recycling centers .', 'the funds are deposited directly into trust accounts by the bonding authorities at the time of issuance .', 'as the use of these funds is contractually restricted , and we do not have the ability to use these funds for general operating purposes , they are classified as restricted cash and marketable securities in our consolidated balance sheets .', 'in the normal course of business , we may be required to provide financial assurance to governmental agencies and a variety of other entities in connection with municipal residential collection contracts , closure or post- closure of landfills , environmental remediation , environmental permits , and business licenses and permits as a financial guarantee of our performance .', 'at several of our landfills , we satisfy financial assurance requirements by depositing cash into restricted trust funds or escrow accounts .', 'property and equipment we record property and equipment at cost .', 'expenditures for major additions and improvements to facilities are capitalized , while maintenance and repairs are charged to expense as incurred .', 'when property is retired or .'] | ========================================
, 2013, 2012, 2011
balance at beginning of year, $ 45.3, $ 48.1, $ 50.9
additions charged to expense, 16.1, 29.7, 21.0
accounts written-off, -23.1 ( 23.1 ), -32.5 ( 32.5 ), -23.8 ( 23.8 )
balance at end of year, $ 38.3, $ 45.3, $ 48.1
======================================== | divide(169.7, 38.3) | 4.43081 |
for 2015 , the fair value of total gross derivatives was what percent of notional value? | Background: ['in 2011 , we transferred approximately 1.3 million shares of blackrock series c preferred stock to blackrock in connection with our obligation .', 'in 2013 , we transferred an additional .2 million shares to blackrock .', 'at december 31 , 2015 , we held approximately 1.3 million shares of blackrock series c preferred stock which were available to fund our obligation in connection with the blackrock ltip programs .', 'see note 24 subsequent events for information on our february 1 , 2016 transfer of 0.5 million shares of the series c preferred stock to blackrock to satisfy a portion of our ltip obligation .', 'pnc accounts for its blackrock series c preferred stock at fair value , which offsets the impact of marking-to-market the obligation to deliver these shares to blackrock .', 'the fair value of the blackrock series c preferred stock is included on our consolidated balance sheet in the caption other assets .', 'additional information regarding the valuation of the blackrock series c preferred stock is included in note 7 fair value .', 'note 14 financial derivatives we use derivative financial instruments ( derivatives ) primarily to help manage exposure to interest rate , market and credit risk and reduce the effects that changes in interest rates may have on net income , the fair value of assets and liabilities , and cash flows .', 'we also enter into derivatives with customers to facilitate their risk management activities .', 'derivatives represent contracts between parties that usually require little or no initial net investment and result in one party delivering cash or another type of asset to the other party based on a notional amount and an underlying as specified in the contract .', 'derivative transactions are often measured in terms of notional amount , but this amount is generally not exchanged and it is not recorded on the balance sheet .', 'the notional amount is the basis to which the underlying is applied to determine required payments under the derivative contract .', 'the underlying is a referenced interest rate ( commonly libor ) , security price , credit spread or other index .', 'residential and commercial real estate loan commitments associated with loans to be sold also qualify as derivative instruments .', 'the following table presents the notional amounts and gross fair values of all derivative assets and liabilities held by pnc : table 111 : total gross derivatives .']
Table:
----------------------------------------
Row 1: in millions, december 31 2015 notional/contractamount, december 31 2015 assetfairvalue ( a ), december 31 2015 liabilityfairvalue ( b ), december 31 2015 notional/contractamount, december 31 2015 assetfairvalue ( a ), liabilityfairvalue ( b )
Row 2: derivatives designated as hedging instruments under gaap, $ 52074, $ 1159, $ 174, $ 49061, $ 1261, $ 186
Row 3: derivatives not designated as hedging instruments under gaap, 295902, 3782, 3628, 291256, 3973, 3841
Row 4: total gross derivatives, $ 347976, $ 4941, $ 3802, $ 340317, $ 5234, $ 4027
----------------------------------------
Follow-up: ['( a ) included in other assets on our consolidated balance sheet .', '( b ) included in other liabilities on our consolidated balance sheet .', 'all derivatives are carried on our consolidated balance sheet at fair value .', 'derivative balances are presented on the consolidated balance sheet on a net basis taking into consideration the effects of legally enforceable master netting agreements and , when appropriate , any related cash collateral exchanged with counterparties .', 'further discussion regarding the offsetting rights associated with these legally enforceable master netting agreements is included in the offsetting , counterparty credit risk , and contingent features section below .', 'any nonperformance risk , including credit risk , is included in the determination of the estimated net fair value of the derivatives .', 'further discussion on how derivatives are accounted for is included in note 1 accounting policies .', 'derivatives designated as hedging instruments under gaap certain derivatives used to manage interest rate and foreign exchange risk as part of our asset and liability risk management activities are designated as accounting hedges under gaap .', 'derivatives hedging the risks associated with changes in the fair value of assets or liabilities are considered fair value hedges , derivatives hedging the variability of expected future cash flows are considered cash flow hedges , and derivatives hedging a net investment in a foreign subsidiary are considered net investment hedges .', 'designating derivatives as accounting hedges allows for gains and losses on those derivatives , to the extent effective , to be recognized in the income statement in the same period the hedged items affect earnings .', '180 the pnc financial services group , inc .', '2013 form 10-k .'] | 0.0142 | PNC/2015/page_198.pdf-2 | ['in 2011 , we transferred approximately 1.3 million shares of blackrock series c preferred stock to blackrock in connection with our obligation .', 'in 2013 , we transferred an additional .2 million shares to blackrock .', 'at december 31 , 2015 , we held approximately 1.3 million shares of blackrock series c preferred stock which were available to fund our obligation in connection with the blackrock ltip programs .', 'see note 24 subsequent events for information on our february 1 , 2016 transfer of 0.5 million shares of the series c preferred stock to blackrock to satisfy a portion of our ltip obligation .', 'pnc accounts for its blackrock series c preferred stock at fair value , which offsets the impact of marking-to-market the obligation to deliver these shares to blackrock .', 'the fair value of the blackrock series c preferred stock is included on our consolidated balance sheet in the caption other assets .', 'additional information regarding the valuation of the blackrock series c preferred stock is included in note 7 fair value .', 'note 14 financial derivatives we use derivative financial instruments ( derivatives ) primarily to help manage exposure to interest rate , market and credit risk and reduce the effects that changes in interest rates may have on net income , the fair value of assets and liabilities , and cash flows .', 'we also enter into derivatives with customers to facilitate their risk management activities .', 'derivatives represent contracts between parties that usually require little or no initial net investment and result in one party delivering cash or another type of asset to the other party based on a notional amount and an underlying as specified in the contract .', 'derivative transactions are often measured in terms of notional amount , but this amount is generally not exchanged and it is not recorded on the balance sheet .', 'the notional amount is the basis to which the underlying is applied to determine required payments under the derivative contract .', 'the underlying is a referenced interest rate ( commonly libor ) , security price , credit spread or other index .', 'residential and commercial real estate loan commitments associated with loans to be sold also qualify as derivative instruments .', 'the following table presents the notional amounts and gross fair values of all derivative assets and liabilities held by pnc : table 111 : total gross derivatives .'] | ['( a ) included in other assets on our consolidated balance sheet .', '( b ) included in other liabilities on our consolidated balance sheet .', 'all derivatives are carried on our consolidated balance sheet at fair value .', 'derivative balances are presented on the consolidated balance sheet on a net basis taking into consideration the effects of legally enforceable master netting agreements and , when appropriate , any related cash collateral exchanged with counterparties .', 'further discussion regarding the offsetting rights associated with these legally enforceable master netting agreements is included in the offsetting , counterparty credit risk , and contingent features section below .', 'any nonperformance risk , including credit risk , is included in the determination of the estimated net fair value of the derivatives .', 'further discussion on how derivatives are accounted for is included in note 1 accounting policies .', 'derivatives designated as hedging instruments under gaap certain derivatives used to manage interest rate and foreign exchange risk as part of our asset and liability risk management activities are designated as accounting hedges under gaap .', 'derivatives hedging the risks associated with changes in the fair value of assets or liabilities are considered fair value hedges , derivatives hedging the variability of expected future cash flows are considered cash flow hedges , and derivatives hedging a net investment in a foreign subsidiary are considered net investment hedges .', 'designating derivatives as accounting hedges allows for gains and losses on those derivatives , to the extent effective , to be recognized in the income statement in the same period the hedged items affect earnings .', '180 the pnc financial services group , inc .', '2013 form 10-k .'] | ----------------------------------------
Row 1: in millions, december 31 2015 notional/contractamount, december 31 2015 assetfairvalue ( a ), december 31 2015 liabilityfairvalue ( b ), december 31 2015 notional/contractamount, december 31 2015 assetfairvalue ( a ), liabilityfairvalue ( b )
Row 2: derivatives designated as hedging instruments under gaap, $ 52074, $ 1159, $ 174, $ 49061, $ 1261, $ 186
Row 3: derivatives not designated as hedging instruments under gaap, 295902, 3782, 3628, 291256, 3973, 3841
Row 4: total gross derivatives, $ 347976, $ 4941, $ 3802, $ 340317, $ 5234, $ 4027
---------------------------------------- | divide(4941, 347976) | 0.0142 |
what percentage of total loans receivable gross in 2016 were loans backed by commercial real estate? | Pre-text: ['the goldman sachs group , inc .', 'and subsidiaries notes to consolidated financial statements long-term debt instruments the aggregate contractual principal amount of long-term other secured financings for which the fair value option was elected exceeded the related fair value by $ 361 million and $ 362 million as of december 2016 and december 2015 , respectively .', 'the aggregate contractual principal amount of unsecured long-term borrowings for which the fair value option was elected exceeded the related fair value by $ 1.56 billion and $ 1.12 billion as of december 2016 and december 2015 , respectively .', 'the amounts above include both principal- and non-principal-protected long-term borrowings .', 'impact of credit spreads on loans and lending commitments the estimated net gain attributable to changes in instrument-specific credit spreads on loans and lending commitments for which the fair value option was elected was $ 281 million for 2016 , $ 751 million for 2015 and $ 1.83 billion for 2014 , respectively .', 'the firm generally calculates the fair value of loans and lending commitments for which the fair value option is elected by discounting future cash flows at a rate which incorporates the instrument-specific credit spreads .', 'for floating-rate loans and lending commitments , substantially all changes in fair value are attributable to changes in instrument-specific credit spreads , whereas for fixed-rate loans and lending commitments , changes in fair value are also attributable to changes in interest rates .', 'debt valuation adjustment the firm calculates the fair value of financial liabilities for which the fair value option is elected by discounting future cash flows at a rate which incorporates the firm 2019s credit spreads .', 'the net dva on such financial liabilities was a loss of $ 844 million ( $ 544 million , net of tax ) for 2016 and was included in 201cdebt valuation adjustment 201d in the consolidated statements of comprehensive income .', 'the gains/ ( losses ) reclassified to earnings from accumulated other comprehensive loss upon extinguishment of such financial liabilities were not material for 2016 .', 'note 9 .', 'loans receivable loans receivable is comprised of loans held for investment that are accounted for at amortized cost net of allowance for loan losses .', 'interest on loans receivable is recognized over the life of the loan and is recorded on an accrual basis .', 'the table below presents details about loans receivable. .']
######
Tabular Data:
****************************************
Row 1: $ in millions, as of december 2016, as of december 2015
Row 2: corporate loans, $ 24837, $ 20740
Row 3: loans to private wealth management clients, 13828, 13961
Row 4: loans backed by commercial real estate, 4761, 5271
Row 5: loans backed by residential real estate, 3865, 2316
Row 6: other loans, 2890, 3533
Row 7: total loans receivable gross, 50181, 45821
Row 8: allowance for loan losses, -509 ( 509 ), -414 ( 414 )
Row 9: total loans receivable, $ 49672, $ 45407
****************************************
######
Follow-up: ['as of december 2016 and december 2015 , the fair value of loans receivable was $ 49.80 billion and $ 45.19 billion , respectively .', 'as of december 2016 , had these loans been carried at fair value and included in the fair value hierarchy , $ 28.40 billion and $ 21.40 billion would have been classified in level 2 and level 3 , respectively .', 'as of december 2015 , had these loans been carried at fair value and included in the fair value hierarchy , $ 23.91 billion and $ 21.28 billion would have been classified in level 2 and level 3 , respectively .', 'the firm also extends lending commitments that are held for investment and accounted for on an accrual basis .', 'as of december 2016 and december 2015 , such lending commitments were $ 98.05 billion and $ 93.92 billion , respectively .', 'substantially all of these commitments were extended to corporate borrowers and were primarily related to the firm 2019s relationship lending activities .', 'the carrying value and the estimated fair value of such lending commitments were liabilities of $ 327 million and $ 2.55 billion , respectively , as of december 2016 , and $ 291 million and $ 3.32 billion , respectively , as of december 2015 .', 'as of december 2016 , had these lending commitments been carried at fair value and included in the fair value hierarchy , $ 1.10 billion and $ 1.45 billion would have been classified in level 2 and level 3 , respectively .', 'as of december 2015 , had these lending commitments been carried at fair value and included in the fair value hierarchy , $ 1.35 billion and $ 1.97 billion would have been classified in level 2 and level 3 , respectively .', 'goldman sachs 2016 form 10-k 147 .'] | 0.09488 | GS/2016/page_161.pdf-1 | ['the goldman sachs group , inc .', 'and subsidiaries notes to consolidated financial statements long-term debt instruments the aggregate contractual principal amount of long-term other secured financings for which the fair value option was elected exceeded the related fair value by $ 361 million and $ 362 million as of december 2016 and december 2015 , respectively .', 'the aggregate contractual principal amount of unsecured long-term borrowings for which the fair value option was elected exceeded the related fair value by $ 1.56 billion and $ 1.12 billion as of december 2016 and december 2015 , respectively .', 'the amounts above include both principal- and non-principal-protected long-term borrowings .', 'impact of credit spreads on loans and lending commitments the estimated net gain attributable to changes in instrument-specific credit spreads on loans and lending commitments for which the fair value option was elected was $ 281 million for 2016 , $ 751 million for 2015 and $ 1.83 billion for 2014 , respectively .', 'the firm generally calculates the fair value of loans and lending commitments for which the fair value option is elected by discounting future cash flows at a rate which incorporates the instrument-specific credit spreads .', 'for floating-rate loans and lending commitments , substantially all changes in fair value are attributable to changes in instrument-specific credit spreads , whereas for fixed-rate loans and lending commitments , changes in fair value are also attributable to changes in interest rates .', 'debt valuation adjustment the firm calculates the fair value of financial liabilities for which the fair value option is elected by discounting future cash flows at a rate which incorporates the firm 2019s credit spreads .', 'the net dva on such financial liabilities was a loss of $ 844 million ( $ 544 million , net of tax ) for 2016 and was included in 201cdebt valuation adjustment 201d in the consolidated statements of comprehensive income .', 'the gains/ ( losses ) reclassified to earnings from accumulated other comprehensive loss upon extinguishment of such financial liabilities were not material for 2016 .', 'note 9 .', 'loans receivable loans receivable is comprised of loans held for investment that are accounted for at amortized cost net of allowance for loan losses .', 'interest on loans receivable is recognized over the life of the loan and is recorded on an accrual basis .', 'the table below presents details about loans receivable. .'] | ['as of december 2016 and december 2015 , the fair value of loans receivable was $ 49.80 billion and $ 45.19 billion , respectively .', 'as of december 2016 , had these loans been carried at fair value and included in the fair value hierarchy , $ 28.40 billion and $ 21.40 billion would have been classified in level 2 and level 3 , respectively .', 'as of december 2015 , had these loans been carried at fair value and included in the fair value hierarchy , $ 23.91 billion and $ 21.28 billion would have been classified in level 2 and level 3 , respectively .', 'the firm also extends lending commitments that are held for investment and accounted for on an accrual basis .', 'as of december 2016 and december 2015 , such lending commitments were $ 98.05 billion and $ 93.92 billion , respectively .', 'substantially all of these commitments were extended to corporate borrowers and were primarily related to the firm 2019s relationship lending activities .', 'the carrying value and the estimated fair value of such lending commitments were liabilities of $ 327 million and $ 2.55 billion , respectively , as of december 2016 , and $ 291 million and $ 3.32 billion , respectively , as of december 2015 .', 'as of december 2016 , had these lending commitments been carried at fair value and included in the fair value hierarchy , $ 1.10 billion and $ 1.45 billion would have been classified in level 2 and level 3 , respectively .', 'as of december 2015 , had these lending commitments been carried at fair value and included in the fair value hierarchy , $ 1.35 billion and $ 1.97 billion would have been classified in level 2 and level 3 , respectively .', 'goldman sachs 2016 form 10-k 147 .'] | ****************************************
Row 1: $ in millions, as of december 2016, as of december 2015
Row 2: corporate loans, $ 24837, $ 20740
Row 3: loans to private wealth management clients, 13828, 13961
Row 4: loans backed by commercial real estate, 4761, 5271
Row 5: loans backed by residential real estate, 3865, 2316
Row 6: other loans, 2890, 3533
Row 7: total loans receivable gross, 50181, 45821
Row 8: allowance for loan losses, -509 ( 509 ), -414 ( 414 )
Row 9: total loans receivable, $ 49672, $ 45407
**************************************** | divide(4761, 50181) | 0.09488 |
what was the average rental expense from 2007 to 2009 | Pre-text: ['mastercard incorporated notes to consolidated financial statements 2014 ( continued ) ( in thousands , except percent and per share data ) equity awards was $ 30333 , $ 20726 and $ 19828 for the years ended december 31 , 2009 , 2008 and 2007 , respectively .', 'the income tax benefit related to options exercised during 2009 was $ 7545 .', 'the additional paid-in capital balance attributed to the equity awards was $ 197350 , $ 135538 and $ 114637 as of december 31 , 2009 , 2008 and 2007 , respectively .', 'on july 18 , 2006 , the company 2019s stockholders approved the mastercard incorporated 2006 non-employee director equity compensation plan ( the 201cdirector plan 201d ) .', 'the director plan provides for awards of deferred stock units ( 201cdsus 201d ) to each director of the company who is not a current employee of the company .', 'there are 100 shares of class a common stock reserved for dsu awards under the director plan .', 'during the years ended december 31 , 2009 , 2008 and 2007 , the company granted 7 dsus , 4 dsus and 8 dsus , respectively .', 'the fair value of the dsus was based on the closing stock price on the new york stock exchange of the company 2019s class a common stock on the date of grant .', 'the weighted average grant-date fair value of dsus granted during the years ended december 31 , 2009 , 2008 and 2007 was $ 168.18 , $ 284.92 and $ 139.27 , respectively .', 'the dsus vested immediately upon grant and will be settled in shares of the company 2019s class a common stock on the fourth anniversary of the date of grant .', 'accordingly , the company recorded general and administrative expense of $ 1151 , $ 1209 and $ 1051 for the dsus for the years ended december 31 , 2009 , 2008 and 2007 , respectively .', 'the total income tax benefit recognized in the income statement for dsus was $ 410 , $ 371 and $ 413 for the years ended december 31 , 2009 , 2008 and 2007 , respectively .', 'note 18 .', 'commitments at december 31 , 2009 , the company had the following future minimum payments due under non-cancelable agreements : capital leases operating leases sponsorship , licensing & .']
Tabular Data:
========================================
total capital leases operating leases sponsorship licensing & other
2010 $ 283987 $ 7260 $ 25978 $ 250749
2011 146147 4455 17710 123982
2012 108377 3221 15358 89798
2013 59947 36838 10281 12828
2014 13998 2014 8371 5627
thereafter 25579 2014 22859 2720
total $ 638035 $ 51774 $ 100557 $ 485704
========================================
Additional Information: ['included in the table above are capital leases with imputed interest expense of $ 7929 and a net present value of minimum lease payments of $ 43845 .', 'in addition , at december 31 , 2009 , $ 63616 of the future minimum payments in the table above for leases , sponsorship , licensing and other agreements was accrued .', 'consolidated rental expense for the company 2019s office space , which is recognized on a straight line basis over the life of the lease , was approximately $ 39586 , $ 42905 and $ 35614 for the years ended december 31 , 2009 , 2008 and 2007 , respectively .', 'consolidated lease expense for automobiles , computer equipment and office equipment was $ 9137 , $ 7694 and $ 7679 for the years ended december 31 , 2009 , 2008 and 2007 , respectively .', 'in january 2003 , mastercard purchased a building in kansas city , missouri for approximately $ 23572 .', 'the building is a co-processing data center which replaced a back-up data center in lake success , new york .', 'during 2003 , mastercard entered into agreements with the city of kansas city for ( i ) the sale-leaseback of the building and related equipment which totaled $ 36382 and ( ii ) the purchase of municipal bonds for the same amount .'] | 59054.0 | MA/2009/page_123.pdf-1 | ['mastercard incorporated notes to consolidated financial statements 2014 ( continued ) ( in thousands , except percent and per share data ) equity awards was $ 30333 , $ 20726 and $ 19828 for the years ended december 31 , 2009 , 2008 and 2007 , respectively .', 'the income tax benefit related to options exercised during 2009 was $ 7545 .', 'the additional paid-in capital balance attributed to the equity awards was $ 197350 , $ 135538 and $ 114637 as of december 31 , 2009 , 2008 and 2007 , respectively .', 'on july 18 , 2006 , the company 2019s stockholders approved the mastercard incorporated 2006 non-employee director equity compensation plan ( the 201cdirector plan 201d ) .', 'the director plan provides for awards of deferred stock units ( 201cdsus 201d ) to each director of the company who is not a current employee of the company .', 'there are 100 shares of class a common stock reserved for dsu awards under the director plan .', 'during the years ended december 31 , 2009 , 2008 and 2007 , the company granted 7 dsus , 4 dsus and 8 dsus , respectively .', 'the fair value of the dsus was based on the closing stock price on the new york stock exchange of the company 2019s class a common stock on the date of grant .', 'the weighted average grant-date fair value of dsus granted during the years ended december 31 , 2009 , 2008 and 2007 was $ 168.18 , $ 284.92 and $ 139.27 , respectively .', 'the dsus vested immediately upon grant and will be settled in shares of the company 2019s class a common stock on the fourth anniversary of the date of grant .', 'accordingly , the company recorded general and administrative expense of $ 1151 , $ 1209 and $ 1051 for the dsus for the years ended december 31 , 2009 , 2008 and 2007 , respectively .', 'the total income tax benefit recognized in the income statement for dsus was $ 410 , $ 371 and $ 413 for the years ended december 31 , 2009 , 2008 and 2007 , respectively .', 'note 18 .', 'commitments at december 31 , 2009 , the company had the following future minimum payments due under non-cancelable agreements : capital leases operating leases sponsorship , licensing & .'] | ['included in the table above are capital leases with imputed interest expense of $ 7929 and a net present value of minimum lease payments of $ 43845 .', 'in addition , at december 31 , 2009 , $ 63616 of the future minimum payments in the table above for leases , sponsorship , licensing and other agreements was accrued .', 'consolidated rental expense for the company 2019s office space , which is recognized on a straight line basis over the life of the lease , was approximately $ 39586 , $ 42905 and $ 35614 for the years ended december 31 , 2009 , 2008 and 2007 , respectively .', 'consolidated lease expense for automobiles , computer equipment and office equipment was $ 9137 , $ 7694 and $ 7679 for the years ended december 31 , 2009 , 2008 and 2007 , respectively .', 'in january 2003 , mastercard purchased a building in kansas city , missouri for approximately $ 23572 .', 'the building is a co-processing data center which replaced a back-up data center in lake success , new york .', 'during 2003 , mastercard entered into agreements with the city of kansas city for ( i ) the sale-leaseback of the building and related equipment which totaled $ 36382 and ( ii ) the purchase of municipal bonds for the same amount .'] | ========================================
total capital leases operating leases sponsorship licensing & other
2010 $ 283987 $ 7260 $ 25978 $ 250749
2011 146147 4455 17710 123982
2012 108377 3221 15358 89798
2013 59947 36838 10281 12828
2014 13998 2014 8371 5627
thereafter 25579 2014 22859 2720
total $ 638035 $ 51774 $ 100557 $ 485704
======================================== | add(39586, 42905), add(#0, 35614), add(#1, const_3), divide(#2, const_2) | 59054.0 |
what percentage of total net revenues in the investment management segment in 2012 where due to management and other fees? | Context: ['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 .'] | 0.7861 | GS/2012/page_58.pdf-4 | ['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 | divide(4105, 5222) | 0.7861 |
what is the average annual revenue per customer in new jersey? | Pre-text: ['acquisition added approximately 1700 water customers and nearly 2000 wastewater customers .', 'the tex as assets served approximately 4200 water and 1100 wastewater customers in the greater houston metropolitan as noted above , as a result of these sales , these regulated subsidiaries are presented as discontinued operations for all periods presented .', 'therefore , the amounts , statistics and tables presented in this section refer only to on-going operations , unless otherwise noted .', 'the following table sets forth our regulated businesses operating revenue for 2013 and number of customers from continuing operations as well as an estimate of population served as of december 31 , 2013 : operating revenues ( in millions ) % ( % ) of total number of customers % ( % ) of total estimated population served ( in millions ) % ( % ) of total .']
########
Table:
----------------------------------------
new jersey, operatingrevenues ( in millions ) $ 638.0, % ( % ) of total 24.6% ( 24.6 % ), number ofcustomers 647168, % ( % ) of total 20.1% ( 20.1 % ), estimatedpopulationserved ( in millions ) 2.5, % ( % ) of total 21.7% ( 21.7 % )
pennsylvania, 571.2, 22.0% ( 22.0 % ), 666947, 20.7% ( 20.7 % ), 2.1, 18.3% ( 18.3 % )
missouri, 264.8, 10.2% ( 10.2 % ), 464232, 14.4% ( 14.4 % ), 1.5, 13.1% ( 13.1 % )
illinois ( a ), 261.7, 10.1% ( 10.1 % ), 311464, 9.7% ( 9.7 % ), 1.2, 10.4% ( 10.4 % )
california, 209.5, 8.1% ( 8.1 % ), 173986, 5.4% ( 5.4 % ), 0.6, 5.2% ( 5.2 % )
indiana, 199.2, 7.7% ( 7.7 % ), 293345, 9.1% ( 9.1 % ), 1.2, 10.4% ( 10.4 % )
west virginia ( b ), 124.2, 4.8% ( 4.8 % ), 173208, 5.4% ( 5.4 % ), 0.6, 5.2% ( 5.2 % )
subtotal ( top seven states ), 2268.6, 87.5% ( 87.5 % ), 2730350, 84.8% ( 84.8 % ), 9.7, 84.3% ( 84.3 % )
other ( c ), 325.3, 12.5% ( 12.5 % ), 489149, 15.2% ( 15.2 % ), 1.8, 15.7% ( 15.7 % )
total regulated businesses, $ 2593.9, 100.0% ( 100.0 % ), 3219499, 100.0% ( 100.0 % ), 11.5, 100.0% ( 100.0 % )
----------------------------------------
########
Follow-up: ['( a ) includes illinois-american water company , which we refer to as ilawc and american lake water company , also a regulated subsidiary in illinois .', '( b ) west virginia-american water company , which we refer to as wvawc , and its subsidiary bluefield valley water works company .', '( c ) includes data from our operating subsidiaries in the following states : georgia , hawaii , iowa , kentucky , maryland , michigan , new york , tennessee , and virginia .', 'approximately 87.5 % ( % ) of operating revenue from our regulated businesses in 2013 was generated from approximately 2.7 million customers in our seven largest states , as measured by operating revenues .', 'in fiscal year 2013 , no single customer accounted for more than 10% ( 10 % ) of our annual operating revenue .', 'overview of networks , facilities and water supply our regulated businesses operate in approximately 1500 communities in 16 states in the united states .', 'our primary operating assets include 87 dams along with approximately 80 surface water treatment plants , 500 groundwater treatment plants , 1000 groundwater wells , 100 wastewater treatment facilities , 1200 treated water storage facilities , 1300 pumping stations , and 47000 miles of mains and collection pipes .', 'our regulated utilities own substantially all of the assets used by our regulated businesses .', 'we generally own the land and physical assets used to store , extract and treat source water .', 'typically , we do not own the water itself , which is held in public trust and is allocated to us through contracts and allocation rights granted by federal and state agencies or through the ownership of water rights pursuant to local law .', 'maintaining the reliability of our networks is a key activity of our regulated businesses .', 'we have ongoing infrastructure renewal programs in all states in which our regulated businesses operate .', 'these programs consist of both rehabilitation of existing mains and replacement of mains that have reached the end of their useful service lives .', 'our ability to meet the existing and future water demands of our customers depends on an adequate supply of water .', 'drought , governmental restrictions , overuse of sources of water , the protection of threatened species or .'] | 985.83366 | AWK/2013/page_12.pdf-1 | ['acquisition added approximately 1700 water customers and nearly 2000 wastewater customers .', 'the tex as assets served approximately 4200 water and 1100 wastewater customers in the greater houston metropolitan as noted above , as a result of these sales , these regulated subsidiaries are presented as discontinued operations for all periods presented .', 'therefore , the amounts , statistics and tables presented in this section refer only to on-going operations , unless otherwise noted .', 'the following table sets forth our regulated businesses operating revenue for 2013 and number of customers from continuing operations as well as an estimate of population served as of december 31 , 2013 : operating revenues ( in millions ) % ( % ) of total number of customers % ( % ) of total estimated population served ( in millions ) % ( % ) of total .'] | ['( a ) includes illinois-american water company , which we refer to as ilawc and american lake water company , also a regulated subsidiary in illinois .', '( b ) west virginia-american water company , which we refer to as wvawc , and its subsidiary bluefield valley water works company .', '( c ) includes data from our operating subsidiaries in the following states : georgia , hawaii , iowa , kentucky , maryland , michigan , new york , tennessee , and virginia .', 'approximately 87.5 % ( % ) of operating revenue from our regulated businesses in 2013 was generated from approximately 2.7 million customers in our seven largest states , as measured by operating revenues .', 'in fiscal year 2013 , no single customer accounted for more than 10% ( 10 % ) of our annual operating revenue .', 'overview of networks , facilities and water supply our regulated businesses operate in approximately 1500 communities in 16 states in the united states .', 'our primary operating assets include 87 dams along with approximately 80 surface water treatment plants , 500 groundwater treatment plants , 1000 groundwater wells , 100 wastewater treatment facilities , 1200 treated water storage facilities , 1300 pumping stations , and 47000 miles of mains and collection pipes .', 'our regulated utilities own substantially all of the assets used by our regulated businesses .', 'we generally own the land and physical assets used to store , extract and treat source water .', 'typically , we do not own the water itself , which is held in public trust and is allocated to us through contracts and allocation rights granted by federal and state agencies or through the ownership of water rights pursuant to local law .', 'maintaining the reliability of our networks is a key activity of our regulated businesses .', 'we have ongoing infrastructure renewal programs in all states in which our regulated businesses operate .', 'these programs consist of both rehabilitation of existing mains and replacement of mains that have reached the end of their useful service lives .', 'our ability to meet the existing and future water demands of our customers depends on an adequate supply of water .', 'drought , governmental restrictions , overuse of sources of water , the protection of threatened species or .'] | ----------------------------------------
new jersey, operatingrevenues ( in millions ) $ 638.0, % ( % ) of total 24.6% ( 24.6 % ), number ofcustomers 647168, % ( % ) of total 20.1% ( 20.1 % ), estimatedpopulationserved ( in millions ) 2.5, % ( % ) of total 21.7% ( 21.7 % )
pennsylvania, 571.2, 22.0% ( 22.0 % ), 666947, 20.7% ( 20.7 % ), 2.1, 18.3% ( 18.3 % )
missouri, 264.8, 10.2% ( 10.2 % ), 464232, 14.4% ( 14.4 % ), 1.5, 13.1% ( 13.1 % )
illinois ( a ), 261.7, 10.1% ( 10.1 % ), 311464, 9.7% ( 9.7 % ), 1.2, 10.4% ( 10.4 % )
california, 209.5, 8.1% ( 8.1 % ), 173986, 5.4% ( 5.4 % ), 0.6, 5.2% ( 5.2 % )
indiana, 199.2, 7.7% ( 7.7 % ), 293345, 9.1% ( 9.1 % ), 1.2, 10.4% ( 10.4 % )
west virginia ( b ), 124.2, 4.8% ( 4.8 % ), 173208, 5.4% ( 5.4 % ), 0.6, 5.2% ( 5.2 % )
subtotal ( top seven states ), 2268.6, 87.5% ( 87.5 % ), 2730350, 84.8% ( 84.8 % ), 9.7, 84.3% ( 84.3 % )
other ( c ), 325.3, 12.5% ( 12.5 % ), 489149, 15.2% ( 15.2 % ), 1.8, 15.7% ( 15.7 % )
total regulated businesses, $ 2593.9, 100.0% ( 100.0 % ), 3219499, 100.0% ( 100.0 % ), 11.5, 100.0% ( 100.0 % )
---------------------------------------- | multiply(638.0, const_1000000), divide(#0, 647168) | 985.83366 |
based on the black-scholes option-pricing model what was the percentage change in the net loss as reported from 2001 to 2002 | Pre-text: ['american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) the following table illustrates the effect on net loss and net loss per share if the company had applied the fair value recognition provisions of sfas no .', '123 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:
========================================
• , 2002, 2001, 2000
• net loss as reported, $ -1141879 ( 1141879 ), $ -450094 ( 450094 ), $ -194628 ( 194628 )
• less : total stock-based employee compensation expense determined under fair value basedmethod for all awards net of related tax effect, -38126 ( 38126 ), -50540 ( 50540 ), -51186 ( 51186 )
• pro-forma net loss, $ -1180005 ( 1180005 ), $ -500634 ( 500634 ), $ -245814 ( 245814 )
• basic and diluted net loss per share 2014as reported, $ -5.84 ( 5.84 ), $ -2.35 ( 2.35 ), $ -1.15 ( 1.15 )
• basic and diluted net loss per share 2014pro-forma, $ -6.04 ( 6.04 ), $ -2.61 ( 2.61 ), $ -1.46 ( 1.46 )
========================================
--------
Additional Information: ['fair value of financial instruments 2014as of december 31 , 2002 , the carrying amounts of the company 2019s 5.0% ( 5.0 % ) convertible notes , the 2.25% ( 2.25 % ) convertible notes , the 6.25% ( 6.25 % ) convertible notes and the senior notes were approximately $ 450.0 million , $ 210.9 million , $ 212.7 million and $ 1.0 billion , respectively , and the fair values of such notes were $ 291.4 million , $ 187.2 million , $ 144.4 million and $ 780.0 million , respectively .', 'as of december 31 , 2001 , the carrying amount of the company 2019s 5.0% ( 5.0 % ) convertible notes , the 2.25% ( 2.25 % ) convertible notes , the 6.25% ( 6.25 % ) convertible notes and the senior notes were approximately $ 450.0 million , $ 204.1 million , $ 212.8 million and $ 1.0 billion , respectively , and the fair values of such notes were $ 268.3 million , $ 173.1 million , $ 158.2 million and $ 805.0 million , respectively .', 'fair values were determined based on quoted market prices .', 'the carrying values of all other financial instruments reasonably approximate the related fair values as of december 31 , 2002 and 2001 .', 'retirement plan 2014the company has a 401 ( k ) plan covering substantially all employees who meet certain age and employment requirements .', 'under the plan , the company matches 35% ( 35 % ) of participants 2019 contributions up to a maximum 5% ( 5 % ) of a participant 2019s compensation .', 'the company contributed approximately $ 979000 , $ 1540000 and $ 1593000 to the plan for the years ended december 31 , 2002 , 2001 and 2000 , respectively .', 'recent accounting pronouncements 2014in june 2001 , the fasb issued sfas no .', '143 , 201caccounting for asset retirement obligations . 201d this statement establishes accounting standards for the recognition and measurement of liabilities associated with the retirement of tangible long-lived assets and the related asset retirement costs .', 'the requirements of sfas no .', '143 are effective for the company as of january 1 , 2003 .', 'the company will adopt this statement in the first quarter of 2003 and does not expect the impact of adopting this statement to have a material impact on its consolidated financial position or results of operations .', 'in august 2001 , the fasb issued sfas no .', '144 , 201caccounting for the impairment or disposal of long-lived assets . 201d sfas no .', '144 supersedes sfas no .', '121 , 201caccounting for the impairment of long-lived assets and for long-lived assets to be disposed of , 201d but retains many of its fundamental provisions .', 'sfas no .', '144 also clarifies certain measurement and classification issues from sfas no .', '121 .', 'in addition , sfas no .', '144 supersedes the accounting and reporting provisions for the disposal of a business segment as found in apb no .', '30 , 201creporting the results of operations 2014reporting the effects of disposal of a segment of a business and extraordinary , unusual and infrequently occurring events and transactions 201d .', 'however , sfas no .', '144 retains the requirement in apb no .', '30 to separately report discontinued operations , and broadens the scope of such requirement to include more types of disposal transactions .', 'the scope of sfas no .', '144 excludes goodwill and other intangible assets that are not to be amortized , as the accounting for such items is prescribed by sfas no .', '142 .', 'the company implemented sfas no .', '144 on january 1 , 2002 .', 'accordingly , all relevant impairment assessments and decisions concerning discontinued operations have been made under this standard in 2002. .'] | 1.53698 | AMT/2002/page_74.pdf-3 | ['american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) the following table illustrates the effect on net loss and net loss per share if the company had applied the fair value recognition provisions of sfas no .', '123 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 ) : .'] | ['fair value of financial instruments 2014as of december 31 , 2002 , the carrying amounts of the company 2019s 5.0% ( 5.0 % ) convertible notes , the 2.25% ( 2.25 % ) convertible notes , the 6.25% ( 6.25 % ) convertible notes and the senior notes were approximately $ 450.0 million , $ 210.9 million , $ 212.7 million and $ 1.0 billion , respectively , and the fair values of such notes were $ 291.4 million , $ 187.2 million , $ 144.4 million and $ 780.0 million , respectively .', 'as of december 31 , 2001 , the carrying amount of the company 2019s 5.0% ( 5.0 % ) convertible notes , the 2.25% ( 2.25 % ) convertible notes , the 6.25% ( 6.25 % ) convertible notes and the senior notes were approximately $ 450.0 million , $ 204.1 million , $ 212.8 million and $ 1.0 billion , respectively , and the fair values of such notes were $ 268.3 million , $ 173.1 million , $ 158.2 million and $ 805.0 million , respectively .', 'fair values were determined based on quoted market prices .', 'the carrying values of all other financial instruments reasonably approximate the related fair values as of december 31 , 2002 and 2001 .', 'retirement plan 2014the company has a 401 ( k ) plan covering substantially all employees who meet certain age and employment requirements .', 'under the plan , the company matches 35% ( 35 % ) of participants 2019 contributions up to a maximum 5% ( 5 % ) of a participant 2019s compensation .', 'the company contributed approximately $ 979000 , $ 1540000 and $ 1593000 to the plan for the years ended december 31 , 2002 , 2001 and 2000 , respectively .', 'recent accounting pronouncements 2014in june 2001 , the fasb issued sfas no .', '143 , 201caccounting for asset retirement obligations . 201d this statement establishes accounting standards for the recognition and measurement of liabilities associated with the retirement of tangible long-lived assets and the related asset retirement costs .', 'the requirements of sfas no .', '143 are effective for the company as of january 1 , 2003 .', 'the company will adopt this statement in the first quarter of 2003 and does not expect the impact of adopting this statement to have a material impact on its consolidated financial position or results of operations .', 'in august 2001 , the fasb issued sfas no .', '144 , 201caccounting for the impairment or disposal of long-lived assets . 201d sfas no .', '144 supersedes sfas no .', '121 , 201caccounting for the impairment of long-lived assets and for long-lived assets to be disposed of , 201d but retains many of its fundamental provisions .', 'sfas no .', '144 also clarifies certain measurement and classification issues from sfas no .', '121 .', 'in addition , sfas no .', '144 supersedes the accounting and reporting provisions for the disposal of a business segment as found in apb no .', '30 , 201creporting the results of operations 2014reporting the effects of disposal of a segment of a business and extraordinary , unusual and infrequently occurring events and transactions 201d .', 'however , sfas no .', '144 retains the requirement in apb no .', '30 to separately report discontinued operations , and broadens the scope of such requirement to include more types of disposal transactions .', 'the scope of sfas no .', '144 excludes goodwill and other intangible assets that are not to be amortized , as the accounting for such items is prescribed by sfas no .', '142 .', 'the company implemented sfas no .', '144 on january 1 , 2002 .', 'accordingly , all relevant impairment assessments and decisions concerning discontinued operations have been made under this standard in 2002. .'] | ========================================
• , 2002, 2001, 2000
• net loss as reported, $ -1141879 ( 1141879 ), $ -450094 ( 450094 ), $ -194628 ( 194628 )
• less : total stock-based employee compensation expense determined under fair value basedmethod for all awards net of related tax effect, -38126 ( 38126 ), -50540 ( 50540 ), -51186 ( 51186 )
• pro-forma net loss, $ -1180005 ( 1180005 ), $ -500634 ( 500634 ), $ -245814 ( 245814 )
• basic and diluted net loss per share 2014as reported, $ -5.84 ( 5.84 ), $ -2.35 ( 2.35 ), $ -1.15 ( 1.15 )
• basic and diluted net loss per share 2014pro-forma, $ -6.04 ( 6.04 ), $ -2.61 ( 2.61 ), $ -1.46 ( 1.46 )
======================================== | subtract(1141879, 450094), divide(#0, 450094) | 1.53698 |
based on the summary of the restricted stock and performance shares activity for 2010 what was percentage change in the number of shares outstanding | Background: ['the company granted 1020 performance shares .', 'the vesting of these shares is contingent on meeting stated goals over a performance period .', 'beginning with restricted stock grants in september 2010 , dividends are accrued on restricted class a common stock and restricted stock units and are paid once the restricted stock vests .', 'the following table summarizes restricted stock and performance shares activity for 2010 : number of shares weighted average grant date fair value .']
----
Table:
, number of shares, weighted average grant date fair value
outstanding at december 31 2009, 116677, $ 280
granted, 134245, 275
vested, -34630 ( 34630 ), 257
cancelled, -19830 ( 19830 ), 260
outstanding at december 31 2010, 196462, 283
----
Post-table: ['the total fair value of restricted stock that vested during the years ended december 31 , 2010 , 2009 and 2008 , was $ 10.3 million , $ 6.2 million and $ 2.5 million , respectively .', 'eligible employees may acquire shares of cme group 2019s 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 .', 'compensation expense is recognized on the dates of purchase for the discount from the closing price .', 'in 2010 , 2009 and 2008 , a total of 4371 , 4402 and 5600 shares , respectively , of class a common stock were issued to participating employees .', 'these shares are subject to a six-month holding period .', 'annual expense of $ 0.1 million for the purchase discount was recognized in 2010 , 2009 and 2008 , respectively .', 'non-executive directors receive an annual award of class a common stock with a value equal to $ 75000 .', 'non-executive directors may also elect to receive some or all of the cash portion of their annual stipend , up to $ 25000 , in shares of stock based on the closing price at the date of distribution .', 'as a result , 7470 , 11674 and 5509 shares of class a common stock were issued to non-executive directors during 2010 , 2009 and 2008 , respectively .', 'these shares are not subject to any vesting restrictions .', 'expense of $ 2.4 million , $ 2.5 million and $ 2.4 million related to these stock-based payments was recognized for the years ended december 31 , 2010 , 2009 and 2008 , respectively. .'] | 0.68381 | CME/2010/page_113.pdf-1 | ['the company granted 1020 performance shares .', 'the vesting of these shares is contingent on meeting stated goals over a performance period .', 'beginning with restricted stock grants in september 2010 , dividends are accrued on restricted class a common stock and restricted stock units and are paid once the restricted stock vests .', 'the following table summarizes restricted stock and performance shares activity for 2010 : number of shares weighted average grant date fair value .'] | ['the total fair value of restricted stock that vested during the years ended december 31 , 2010 , 2009 and 2008 , was $ 10.3 million , $ 6.2 million and $ 2.5 million , respectively .', 'eligible employees may acquire shares of cme group 2019s 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 .', 'compensation expense is recognized on the dates of purchase for the discount from the closing price .', 'in 2010 , 2009 and 2008 , a total of 4371 , 4402 and 5600 shares , respectively , of class a common stock were issued to participating employees .', 'these shares are subject to a six-month holding period .', 'annual expense of $ 0.1 million for the purchase discount was recognized in 2010 , 2009 and 2008 , respectively .', 'non-executive directors receive an annual award of class a common stock with a value equal to $ 75000 .', 'non-executive directors may also elect to receive some or all of the cash portion of their annual stipend , up to $ 25000 , in shares of stock based on the closing price at the date of distribution .', 'as a result , 7470 , 11674 and 5509 shares of class a common stock were issued to non-executive directors during 2010 , 2009 and 2008 , respectively .', 'these shares are not subject to any vesting restrictions .', 'expense of $ 2.4 million , $ 2.5 million and $ 2.4 million related to these stock-based payments was recognized for the years ended december 31 , 2010 , 2009 and 2008 , respectively. .'] | , number of shares, weighted average grant date fair value
outstanding at december 31 2009, 116677, $ 280
granted, 134245, 275
vested, -34630 ( 34630 ), 257
cancelled, -19830 ( 19830 ), 260
outstanding at december 31 2010, 196462, 283 | subtract(196462, 116677), divide(#0, 116677) | 0.68381 |
what percent of total inventories was comprised of raw materials and packaging in 2007? | Pre-text: ['notes to consolidated financial statements 2014 ( continued ) fiscal years ended may 27 , 2007 , may 28 , 2006 , and may 29 , 2005 columnar amounts in millions except per share amounts 6 .', 'impairment of debt and equity securities during fiscal 2005 , the company determined that the carrying values of its investments in two unrelated equity method investments , a bio-fuels venture and a malt venture , were other-than-temporarily impaired and therefore recognized pre-tax impairment charges totaling $ 71.0 million ( $ 65.6 million after tax ) .', 'during fiscal 2006 , the company recognized additional impairment charges totaling $ 75.8 million ( $ 73.1 million after tax ) of its investments in the malt venture and an unrelated investment in a foreign prepared foods business , due to further declines in the estimated proceeds from the disposition of these investments .', 'the investment in a foreign prepared foods business was disposed of in fiscal 2006 .', 'the extent of the impairments was determined based upon the company 2019s assessment of the recoverability of its investments based primarily upon the expected proceeds of planned dispositions of the investments .', 'during fiscal 2007 , the company completed the disposition of the equity method investment in the malt venture for proceeds of approximately $ 24 million , including notes and other receivables totaling approximately $ 7 million .', 'this transaction resulted in a pre-tax gain of approximately $ 4 million , with a related tax benefit of approximately $ 4 million .', 'these charges and the subsequent gain on disposition are reflected in equity method investment earnings ( loss ) in the consolidated statements of earnings .', 'the company held , at may 28 , 2006 , subordinated notes in the original principal amount of $ 150 million plus accrued interest of $ 50.4 million from swift foods .', 'during the company 2019s fourth quarter of fiscal 2005 , swift foods effected changes in its capital structure .', 'as a result of those changes , the company determined that the fair value of the subordinated notes was impaired .', 'from the date on which the company initially determined that the value of the notes was impaired through the second quarter of fiscal 2006 , the company believed the impairment of this available-for-sale security to be temporary .', 'as such , the company had reduced the carrying value of the note by $ 35.4 million and recorded cumulative after-tax charges of $ 21.9 million in accumulated other comprehensive income as of the end of the second quarter of fiscal 2006 .', 'during the second half of fiscal 2006 , due to the company 2019s consideration of current conditions related to the debtor 2019s business and changes in the company 2019s intended holding period for this investment , the company determined that the impairment was other-than-temporary .', 'accordingly , the company reduced the carrying value of the notes to approximately $ 117 million and recognized impairment charges totaling $ 82.9 million in selling , general and administrative expenses , including the reclassification of the cumulative after-tax charges of $ 21.9 million from accumulated other comprehensive income , in fiscal 2006 .', 'during the second quarter of fiscal 2007 , the company closed on the sale of these notes for approximately $ 117 million , net of transaction expenses , resulting in no additional gain or loss .', '7 .', 'inventories the major classes of inventories are as follows: .']
Data Table:
****************************************
Row 1: , 2007, 2006
Row 2: raw materials and packaging, $ 1154.2, $ 985.0
Row 3: work in progress, 95.2, 97.4
Row 4: finished goods, 1008.1, 923.6
Row 5: supplies and other, 91.0, 124.6
Row 6: total, $ 2348.5, $ 2130.6
****************************************
Additional Information: ['raw materials and packaging includes grain , fertilizer , crude oil , and other trading and merchandising inventory of $ 691.0 million and $ 542.1 million as of the end of fiscal year 2007 and 2006 , respectively. .'] | 0.49146 | CAG/2007/page_79.pdf-2 | ['notes to consolidated financial statements 2014 ( continued ) fiscal years ended may 27 , 2007 , may 28 , 2006 , and may 29 , 2005 columnar amounts in millions except per share amounts 6 .', 'impairment of debt and equity securities during fiscal 2005 , the company determined that the carrying values of its investments in two unrelated equity method investments , a bio-fuels venture and a malt venture , were other-than-temporarily impaired and therefore recognized pre-tax impairment charges totaling $ 71.0 million ( $ 65.6 million after tax ) .', 'during fiscal 2006 , the company recognized additional impairment charges totaling $ 75.8 million ( $ 73.1 million after tax ) of its investments in the malt venture and an unrelated investment in a foreign prepared foods business , due to further declines in the estimated proceeds from the disposition of these investments .', 'the investment in a foreign prepared foods business was disposed of in fiscal 2006 .', 'the extent of the impairments was determined based upon the company 2019s assessment of the recoverability of its investments based primarily upon the expected proceeds of planned dispositions of the investments .', 'during fiscal 2007 , the company completed the disposition of the equity method investment in the malt venture for proceeds of approximately $ 24 million , including notes and other receivables totaling approximately $ 7 million .', 'this transaction resulted in a pre-tax gain of approximately $ 4 million , with a related tax benefit of approximately $ 4 million .', 'these charges and the subsequent gain on disposition are reflected in equity method investment earnings ( loss ) in the consolidated statements of earnings .', 'the company held , at may 28 , 2006 , subordinated notes in the original principal amount of $ 150 million plus accrued interest of $ 50.4 million from swift foods .', 'during the company 2019s fourth quarter of fiscal 2005 , swift foods effected changes in its capital structure .', 'as a result of those changes , the company determined that the fair value of the subordinated notes was impaired .', 'from the date on which the company initially determined that the value of the notes was impaired through the second quarter of fiscal 2006 , the company believed the impairment of this available-for-sale security to be temporary .', 'as such , the company had reduced the carrying value of the note by $ 35.4 million and recorded cumulative after-tax charges of $ 21.9 million in accumulated other comprehensive income as of the end of the second quarter of fiscal 2006 .', 'during the second half of fiscal 2006 , due to the company 2019s consideration of current conditions related to the debtor 2019s business and changes in the company 2019s intended holding period for this investment , the company determined that the impairment was other-than-temporary .', 'accordingly , the company reduced the carrying value of the notes to approximately $ 117 million and recognized impairment charges totaling $ 82.9 million in selling , general and administrative expenses , including the reclassification of the cumulative after-tax charges of $ 21.9 million from accumulated other comprehensive income , in fiscal 2006 .', 'during the second quarter of fiscal 2007 , the company closed on the sale of these notes for approximately $ 117 million , net of transaction expenses , resulting in no additional gain or loss .', '7 .', 'inventories the major classes of inventories are as follows: .'] | ['raw materials and packaging includes grain , fertilizer , crude oil , and other trading and merchandising inventory of $ 691.0 million and $ 542.1 million as of the end of fiscal year 2007 and 2006 , respectively. .'] | ****************************************
Row 1: , 2007, 2006
Row 2: raw materials and packaging, $ 1154.2, $ 985.0
Row 3: work in progress, 95.2, 97.4
Row 4: finished goods, 1008.1, 923.6
Row 5: supplies and other, 91.0, 124.6
Row 6: total, $ 2348.5, $ 2130.6
**************************************** | divide(1154.2, 2348.5) | 0.49146 |
would would 2011 net income have been without the private equity segment ( in millions ) ? | Background: ['jpmorgan chase & co./2012 annual report 103 2011 compared with 2010 net income was $ 822 million , compared with $ 1.3 billion in the prior year .', 'private equity reported net income of $ 391 million , compared with $ 588 million in the prior year .', 'net revenue was $ 836 million , a decrease of $ 403 million , primarily related to net write-downs on private investments and the absence of prior year gains on sales .', 'noninterest expense was $ 238 million , a decrease of $ 85 million from the prior treasury and cio reported net income of $ 1.3 billion , compared with net income of $ 3.6 billion in the prior year .', 'net revenue was $ 3.2 billion , including $ 1.4 billion of security gains .', 'net interest income in 2011 was lower compared with 2010 , primarily driven by repositioning of the investment securities portfolio and lower funding benefits from financing the portfolio .', 'other corporate reported a net loss of $ 918 million , compared with a net loss of $ 2.9 billion in the prior year .', 'net revenue was $ 103 million , compared with a net loss of $ 467 million in the prior year .', 'noninterest expense was $ 2.9 billion which included $ 3.2 billion of additional litigation reserves , predominantly for mortgage-related matters .', 'noninterest expense in the prior year was $ 5.5 billion which included $ 5.7 billion of additional litigation reserves .', 'treasury and cio overview treasury and cio are predominantly responsible for measuring , monitoring , reporting and managing the firm 2019s liquidity , funding , capital and structural interest rate and foreign exchange risks .', 'the risks managed by treasury and cio arise from the activities undertaken by the firm 2019s four major reportable business segments to serve their respective client bases , which generate both on- and off- balance sheet assets and liabilities .', 'treasury is responsible for , among other functions , funds transfer pricing .', 'funds transfer pricing is used to transfer structural interest rate risk and foreign exchange risk of the firm to treasury and cio and allocate interest income and expense to each business based on market rates .', 'cio , through its management of the investment portfolio , generates net interest income to pay the lines of business market rates .', 'any variance ( whether positive or negative ) between amounts generated by cio through its investment portfolio activities and amounts paid to or received by the lines of business are retained by cio , and are not reflected in line of business segment results .', 'treasury and cio activities operate in support of the overall firm .', 'cio achieves the firm 2019s asset-liability management objectives generally by investing in high-quality securities that are managed for the longer-term as part of the firm 2019s afs investment portfolio .', 'unrealized gains and losses on securities held in the afs portfolio are recorded in other comprehensive income .', 'for further information about securities in the afs portfolio , see note 3 and note 12 on pages 196 2013214 and 244 2013248 , respectively , of this annual report .', 'cio also uses securities that are not classified within the afs portfolio , as well as derivatives , to meet the firm 2019s asset-liability management objectives .', 'securities not classified within the afs portfolio are recorded in trading assets and liabilities ; realized and unrealized gains and losses on such securities are recorded in the principal transactions revenue line in the consolidated statements of income .', 'for further information about securities included in trading assets and liabilities , see note 3 on pages 196 2013214 of this annual report .', 'derivatives used by cio are also classified as trading assets and liabilities .', 'for further information on derivatives , including the classification of realized and unrealized gains and losses , see note 6 on pages 218 2013227 of this annual report .', 'cio 2019s afs portfolio consists of u.s .', 'and non-u.s .', 'government securities , agency and non-agency mortgage-backed securities , other asset-backed securities and corporate and municipal debt securities .', 'treasury 2019s afs portfolio consists of u.s .', 'and non-u.s .', 'government securities and corporate debt securities .', 'at december 31 , 2012 , the total treasury and cio afs portfolios were $ 344.1 billion and $ 21.3 billion , respectively ; the average credit rating of the securities comprising the treasury and cio afs portfolios was aa+ ( based upon external ratings where available and where not available , based primarily upon internal ratings that correspond to ratings as defined by s&p and moody 2019s ) .', 'see note 12 on pages 244 2013248 of this annual report for further information on the details of the firm 2019s afs portfolio .', 'for further information on liquidity and funding risk , see liquidity risk management on pages 127 2013133 of this annual report .', 'for information on interest rate , foreign exchange and other risks , and cio var and the firm 2019s nontrading interest rate-sensitive revenue at risk , see market risk management on pages 163 2013169 of this annual report .', 'selected income statement and balance sheet data as of or for the year ended december 31 , ( in millions ) 2012 2011 2010 securities gains ( a ) $ 2028 $ 1385 $ 2897 investment securities portfolio ( average ) 358029 330885 323673 investment securities portfolio ( period 2013end ) 365421 355605 310801 .']
------
Data Table:
****************************************
as of or for the year ended december 31 ( in millions ), 2012, 2011, 2010
securities gains ( a ), $ 2028, $ 1385, $ 2897
investment securities portfolio ( average ), 358029, 330885, 323673
investment securities portfolio ( period 2013end ), 365421, 355605, 310801
mortgage loans ( average ), 10241, 13006, 9004
mortgage loans ( period-end ), 7037, 13375, 10739
****************************************
------
Post-table: ['( a ) reflects repositioning of the investment securities portfolio. .'] | 431.0 | JPM/2012/page_93.pdf-1 | ['jpmorgan chase & co./2012 annual report 103 2011 compared with 2010 net income was $ 822 million , compared with $ 1.3 billion in the prior year .', 'private equity reported net income of $ 391 million , compared with $ 588 million in the prior year .', 'net revenue was $ 836 million , a decrease of $ 403 million , primarily related to net write-downs on private investments and the absence of prior year gains on sales .', 'noninterest expense was $ 238 million , a decrease of $ 85 million from the prior treasury and cio reported net income of $ 1.3 billion , compared with net income of $ 3.6 billion in the prior year .', 'net revenue was $ 3.2 billion , including $ 1.4 billion of security gains .', 'net interest income in 2011 was lower compared with 2010 , primarily driven by repositioning of the investment securities portfolio and lower funding benefits from financing the portfolio .', 'other corporate reported a net loss of $ 918 million , compared with a net loss of $ 2.9 billion in the prior year .', 'net revenue was $ 103 million , compared with a net loss of $ 467 million in the prior year .', 'noninterest expense was $ 2.9 billion which included $ 3.2 billion of additional litigation reserves , predominantly for mortgage-related matters .', 'noninterest expense in the prior year was $ 5.5 billion which included $ 5.7 billion of additional litigation reserves .', 'treasury and cio overview treasury and cio are predominantly responsible for measuring , monitoring , reporting and managing the firm 2019s liquidity , funding , capital and structural interest rate and foreign exchange risks .', 'the risks managed by treasury and cio arise from the activities undertaken by the firm 2019s four major reportable business segments to serve their respective client bases , which generate both on- and off- balance sheet assets and liabilities .', 'treasury is responsible for , among other functions , funds transfer pricing .', 'funds transfer pricing is used to transfer structural interest rate risk and foreign exchange risk of the firm to treasury and cio and allocate interest income and expense to each business based on market rates .', 'cio , through its management of the investment portfolio , generates net interest income to pay the lines of business market rates .', 'any variance ( whether positive or negative ) between amounts generated by cio through its investment portfolio activities and amounts paid to or received by the lines of business are retained by cio , and are not reflected in line of business segment results .', 'treasury and cio activities operate in support of the overall firm .', 'cio achieves the firm 2019s asset-liability management objectives generally by investing in high-quality securities that are managed for the longer-term as part of the firm 2019s afs investment portfolio .', 'unrealized gains and losses on securities held in the afs portfolio are recorded in other comprehensive income .', 'for further information about securities in the afs portfolio , see note 3 and note 12 on pages 196 2013214 and 244 2013248 , respectively , of this annual report .', 'cio also uses securities that are not classified within the afs portfolio , as well as derivatives , to meet the firm 2019s asset-liability management objectives .', 'securities not classified within the afs portfolio are recorded in trading assets and liabilities ; realized and unrealized gains and losses on such securities are recorded in the principal transactions revenue line in the consolidated statements of income .', 'for further information about securities included in trading assets and liabilities , see note 3 on pages 196 2013214 of this annual report .', 'derivatives used by cio are also classified as trading assets and liabilities .', 'for further information on derivatives , including the classification of realized and unrealized gains and losses , see note 6 on pages 218 2013227 of this annual report .', 'cio 2019s afs portfolio consists of u.s .', 'and non-u.s .', 'government securities , agency and non-agency mortgage-backed securities , other asset-backed securities and corporate and municipal debt securities .', 'treasury 2019s afs portfolio consists of u.s .', 'and non-u.s .', 'government securities and corporate debt securities .', 'at december 31 , 2012 , the total treasury and cio afs portfolios were $ 344.1 billion and $ 21.3 billion , respectively ; the average credit rating of the securities comprising the treasury and cio afs portfolios was aa+ ( based upon external ratings where available and where not available , based primarily upon internal ratings that correspond to ratings as defined by s&p and moody 2019s ) .', 'see note 12 on pages 244 2013248 of this annual report for further information on the details of the firm 2019s afs portfolio .', 'for further information on liquidity and funding risk , see liquidity risk management on pages 127 2013133 of this annual report .', 'for information on interest rate , foreign exchange and other risks , and cio var and the firm 2019s nontrading interest rate-sensitive revenue at risk , see market risk management on pages 163 2013169 of this annual report .', 'selected income statement and balance sheet data as of or for the year ended december 31 , ( in millions ) 2012 2011 2010 securities gains ( a ) $ 2028 $ 1385 $ 2897 investment securities portfolio ( average ) 358029 330885 323673 investment securities portfolio ( period 2013end ) 365421 355605 310801 .'] | ['( a ) reflects repositioning of the investment securities portfolio. .'] | ****************************************
as of or for the year ended december 31 ( in millions ), 2012, 2011, 2010
securities gains ( a ), $ 2028, $ 1385, $ 2897
investment securities portfolio ( average ), 358029, 330885, 323673
investment securities portfolio ( period 2013end ), 365421, 355605, 310801
mortgage loans ( average ), 10241, 13006, 9004
mortgage loans ( period-end ), 7037, 13375, 10739
**************************************** | subtract(822, 391) | 431.0 |
what is the percent of the network route in miles that is not leased but owned by the company | Background: ['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 32084 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 26064 miles and operate on the remainder pursuant to trackage rights or leases .', 'we serve the western two-thirds of the country and maintain coordinated schedules with other rail carriers for the handling of freight to and from the atlantic coast , the pacific coast , the southeast , the southwest , canada , and mexico .', 'export and import traffic is moved through gulf coast and pacific coast ports and across the mexican and canadian borders .', 'the railroad , along with its subsidiaries and rail affiliates , is our one reportable operating segment .', 'although we provide and analyze revenue by commodity group , we treat the financial results of the railroad as one segment due to the integrated nature of our rail network .', 'the following table provides freight revenue by commodity group: .']
####
Tabular Data:
millions, 2015, 2014, 2013
agricultural products, $ 3581, $ 3777, $ 3276
automotive, 2154, 2103, 2077
chemicals, 3543, 3664, 3501
coal, 3237, 4127, 3978
industrial products, 3808, 4400, 3822
intermodal, 4074, 4489, 4030
total freight revenues, $ 20397, $ 22560, $ 20684
other revenues, 1416, 1428, 1279
total operating revenues, $ 21813, $ 23988, $ 21963
####
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 freight revenues from our mexico business which amounted to $ 2.2 billion in 2015 , $ 2.3 billion in 2014 , and $ 2.1 billion in 2013 .', 'basis of presentation 2013 the consolidated financial statements are presented in accordance with accounting principles generally accepted in the u.s .', '( gaap ) as codified in the financial accounting standards board ( fasb ) accounting standards codification ( asc ) .', 'certain prior period amounts in the statement of cash flows and income tax footnote have been aggregated or disaggregated further to conform to the current period financial presentation .', '2 .', 'significant accounting policies principles of consolidation 2013 the consolidated financial statements include the accounts of union pacific corporation and all of its subsidiaries .', 'investments in affiliated companies ( 20% ( 20 % ) to 50% ( 50 % ) owned ) are accounted for using the equity method of accounting .', 'all intercompany transactions are eliminated .', 'we currently have no less than majority-owned investments that require consolidation under variable interest entity requirements .', 'cash and cash equivalents 2013 cash equivalents consist of investments with original maturities of three months or less .', 'accounts receivable 2013 accounts receivable includes receivables reduced by an allowance for doubtful accounts .', 'the allowance is based upon historical losses , credit worthiness of customers , and current .'] | 0.81237 | UNP/2015/page_56.pdf-2 | ['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 32084 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 26064 miles and operate on the remainder pursuant to trackage rights or leases .', 'we serve the western two-thirds of the country and maintain coordinated schedules with other rail carriers for the handling of freight to and from the atlantic coast , the pacific coast , the southeast , the southwest , canada , and mexico .', 'export and import traffic is moved through gulf coast and pacific coast ports and across the mexican and canadian borders .', 'the railroad , along with its subsidiaries and rail affiliates , is our one reportable operating segment .', 'although we provide and analyze revenue by commodity group , we treat the financial results of the railroad as one segment due to the integrated nature of our rail network .', 'the following table provides freight revenue by commodity group: .'] | ['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 freight revenues from our mexico business which amounted to $ 2.2 billion in 2015 , $ 2.3 billion in 2014 , and $ 2.1 billion in 2013 .', 'basis of presentation 2013 the consolidated financial statements are presented in accordance with accounting principles generally accepted in the u.s .', '( gaap ) as codified in the financial accounting standards board ( fasb ) accounting standards codification ( asc ) .', 'certain prior period amounts in the statement of cash flows and income tax footnote have been aggregated or disaggregated further to conform to the current period financial presentation .', '2 .', 'significant accounting policies principles of consolidation 2013 the consolidated financial statements include the accounts of union pacific corporation and all of its subsidiaries .', 'investments in affiliated companies ( 20% ( 20 % ) to 50% ( 50 % ) owned ) are accounted for using the equity method of accounting .', 'all intercompany transactions are eliminated .', 'we currently have no less than majority-owned investments that require consolidation under variable interest entity requirements .', 'cash and cash equivalents 2013 cash equivalents consist of investments with original maturities of three months or less .', 'accounts receivable 2013 accounts receivable includes receivables reduced by an allowance for doubtful accounts .', 'the allowance is based upon historical losses , credit worthiness of customers , and current .'] | millions, 2015, 2014, 2013
agricultural products, $ 3581, $ 3777, $ 3276
automotive, 2154, 2103, 2077
chemicals, 3543, 3664, 3501
coal, 3237, 4127, 3978
industrial products, 3808, 4400, 3822
intermodal, 4074, 4489, 4030
total freight revenues, $ 20397, $ 22560, $ 20684
other revenues, 1416, 1428, 1279
total operating revenues, $ 21813, $ 23988, $ 21963 | divide(26064, 32084) | 0.81237 |
what is the growth rate in net revenue in 2015 for entergy mississippi , inc.? | Context: ['entergy mississippi , inc .', 'management 2019s financial discussion and analysis the net wholesale revenue variance is primarily due to entergy mississippi 2019s exit from the system agreement in november 2015 .', 'the reserve equalization revenue variance is primarily due to the absence of reserve equalization revenue as compared to the same period in 2015 resulting from entergy mississippi 2019s exit from the system agreement in november 2015 compared to 2014 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 .', 'following is an analysis of the change in net revenue comparing 2015 to 2014 .', 'amount ( in millions ) .']
##########
Tabular Data:
----------------------------------------
| amount ( in millions )
2014 net revenue | $ 701.2
volume/weather | 8.9
retail electric price | 7.3
net wholesale revenue | -2.7 ( 2.7 )
transmission equalization | -5.4 ( 5.4 )
reserve equalization | -5.5 ( 5.5 )
other | -7.5 ( 7.5 )
2015 net revenue | $ 696.3
----------------------------------------
##########
Follow-up: ['the volume/weather variance is primarily due to an increase of 86 gwh , or 1% ( 1 % ) , in billed electricity usage , including the effect of more favorable weather on residential and commercial sales .', 'the retail electric price variance is primarily due to a $ 16 million net annual increase in revenues , effective february 2015 , as a result of the mpsc order in the june 2014 rate case and an increase in revenues collected through the energy efficiency rider , partially offset by a decrease in revenues collected through the storm damage rider .', 'the rate case included the realignment of certain costs from collection in riders to base rates .', 'see note 2 to the financial statements for a discussion of the rate case , the energy efficiency rider , and the storm damage rider .', 'the net wholesale revenue variance is primarily due to a wholesale customer contract termination in october transmission equalization revenue represents amounts received by entergy mississippi from certain other entergy utility operating companies , in accordance with the system agreement , to allocate the costs of collectively planning , constructing , and operating entergy 2019s bulk transmission facilities .', 'the transmission equalization variance is primarily attributable to the realignment , effective february 2015 , of these revenues from the determination of base rates to inclusion in a rider .', 'such revenues had a favorable effect on net revenue in 2014 , but minimal effect in 2015 .', 'entergy mississippi exited the system agreement in november 2015 .', 'see note 2 to the financial statements for a discussion of the system agreement .', 'reserve equalization revenue represents amounts received by entergy mississippi from certain other entergy utility operating companies , in accordance with the system agreement , to allocate the costs of collectively maintaining adequate electric generating capacity across the entergy system .', 'the reserve equalization variance is primarily attributable to the realignment , effective february 2015 , of these revenues from the determination of base rates to inclusion in a rider .', 'such revenues had a favorable effect on net revenue in 2014 , but minimal effect in 2015 .', 'entergy .'] | -0.00699 | ETR/2016/page_375.pdf-1 | ['entergy mississippi , inc .', 'management 2019s financial discussion and analysis the net wholesale revenue variance is primarily due to entergy mississippi 2019s exit from the system agreement in november 2015 .', 'the reserve equalization revenue variance is primarily due to the absence of reserve equalization revenue as compared to the same period in 2015 resulting from entergy mississippi 2019s exit from the system agreement in november 2015 compared to 2014 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 .', 'following is an analysis of the change in net revenue comparing 2015 to 2014 .', 'amount ( in millions ) .'] | ['the volume/weather variance is primarily due to an increase of 86 gwh , or 1% ( 1 % ) , in billed electricity usage , including the effect of more favorable weather on residential and commercial sales .', 'the retail electric price variance is primarily due to a $ 16 million net annual increase in revenues , effective february 2015 , as a result of the mpsc order in the june 2014 rate case and an increase in revenues collected through the energy efficiency rider , partially offset by a decrease in revenues collected through the storm damage rider .', 'the rate case included the realignment of certain costs from collection in riders to base rates .', 'see note 2 to the financial statements for a discussion of the rate case , the energy efficiency rider , and the storm damage rider .', 'the net wholesale revenue variance is primarily due to a wholesale customer contract termination in october transmission equalization revenue represents amounts received by entergy mississippi from certain other entergy utility operating companies , in accordance with the system agreement , to allocate the costs of collectively planning , constructing , and operating entergy 2019s bulk transmission facilities .', 'the transmission equalization variance is primarily attributable to the realignment , effective february 2015 , of these revenues from the determination of base rates to inclusion in a rider .', 'such revenues had a favorable effect on net revenue in 2014 , but minimal effect in 2015 .', 'entergy mississippi exited the system agreement in november 2015 .', 'see note 2 to the financial statements for a discussion of the system agreement .', 'reserve equalization revenue represents amounts received by entergy mississippi from certain other entergy utility operating companies , in accordance with the system agreement , to allocate the costs of collectively maintaining adequate electric generating capacity across the entergy system .', 'the reserve equalization variance is primarily attributable to the realignment , effective february 2015 , of these revenues from the determination of base rates to inclusion in a rider .', 'such revenues had a favorable effect on net revenue in 2014 , but minimal effect in 2015 .', 'entergy .'] | ----------------------------------------
| amount ( in millions )
2014 net revenue | $ 701.2
volume/weather | 8.9
retail electric price | 7.3
net wholesale revenue | -2.7 ( 2.7 )
transmission equalization | -5.4 ( 5.4 )
reserve equalization | -5.5 ( 5.5 )
other | -7.5 ( 7.5 )
2015 net revenue | $ 696.3
---------------------------------------- | subtract(696.3, 701.2), divide(#0, 701.2) | -0.00699 |
in 2011 what was the percent of the subsidiary trusts 2019 obligations guaranteed by citigroup attributable to the bank | Background: ['cgmhi has committed long-term financing facilities with unaffiliated banks .', 'at december 31 , 2010 , cgmhi had drawn down the full $ 900 million available under these facilities , of which $ 150 million is guaranteed by citigroup .', 'generally , a bank can terminate these facilities by giving cgmhi one-year prior notice .', 'the company issues both fixed and variable rate debt in a range of currencies .', 'it uses derivative contracts , primarily interest rate swaps , to effectively convert a portion of its fixed rate debt to variable rate debt and variable rate debt to fixed rate debt .', 'the maturity structure of the derivatives generally corresponds to the maturity structure of the debt being hedged .', 'in addition , the company uses other derivative contracts to manage the foreign exchange impact of certain debt issuances .', 'at december 31 , 2010 , the company 2019s overall weighted average interest rate for long-term debt was 3.53% ( 3.53 % ) on a contractual basis and 2.78% ( 2.78 % ) including the effects of derivative contracts .', 'aggregate annual maturities of long-term debt obligations ( based on final maturity dates ) including trust preferred securities are as follows : long-term debt at december 31 , 2010 and december 31 , 2009 includes $ 18131 million and $ 19345 million , respectively , of junior subordinated debt .', 'the company formed statutory business trusts under the laws of the state of delaware .', 'the trusts exist for the exclusive purposes of ( i ) issuing trust securities representing undivided beneficial interests in the assets of the trust ; ( ii ) investing the gross proceeds of the trust securities in junior subordinated deferrable interest debentures ( subordinated debentures ) of its parent ; and ( iii ) engaging in only those activities necessary or incidental thereto .', 'upon approval from the federal reserve , citigroup has the right to redeem these securities .', 'citigroup has contractually agreed not to redeem or purchase ( i ) the 6.50% ( 6.50 % ) enhanced trust preferred securities of citigroup capital xv before september 15 , 2056 , ( ii ) the 6.45% ( 6.45 % ) enhanced trust preferred securities of citigroup capital xvi before december 31 , 2046 , ( iii ) the 6.35% ( 6.35 % ) enhanced trust preferred securities of citigroup capital xvii before march 15 , 2057 , ( iv ) the 6.829% ( 6.829 % ) fixed rate/floating rate enhanced trust preferred securities of citigroup capital xviii before june 28 , 2047 , ( v ) the 7.250% ( 7.250 % ) enhanced trust preferred securities of citigroup capital xix before august 15 , 2047 , ( vi ) the 7.875% ( 7.875 % ) enhanced trust preferred securities of citigroup capital xx before december 15 , 2067 , and ( vii ) the 8.300% ( 8.300 % ) fixed rate/floating rate enhanced trust preferred securities of citigroup capital xxi before december 21 , 2067 , unless certain conditions , described in exhibit 4.03 to citigroup 2019s current report on form 8-k filed on september 18 , 2006 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on november 28 , 2006 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on march 8 , 2007 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on july 2 , 2007 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on august 17 , 2007 , in exhibit 4.2 to citigroup 2019s current report on form 8-k filed on november 27 , 2007 , and in exhibit 4.2 to citigroup 2019s current report on form 8-k filed on december 21 , 2007 , respectively , are met .', 'these agreements are for the benefit of the holders of citigroup 2019s 6.00% ( 6.00 % ) junior subordinated deferrable interest debentures due 2034 .', 'citigroup owns all of the voting securities of these subsidiary trusts .', 'these subsidiary trusts have no assets , operations , revenues or cash flows other than those related to the issuance , administration , and repayment of the subsidiary trusts and the subsidiary trusts 2019 common securities .', 'these subsidiary trusts 2019 obligations are fully and unconditionally guaranteed by citigroup. .']
--------
Table:
----------------------------------------
in millions of dollars | 2011 | 2012 | 2013 | 2014 | 2015 | thereafter
----------|----------|----------|----------|----------|----------|----------
bank | $ 35066 | $ 38280 | $ 8013 | $ 7620 | $ 6380 | $ 17875
non-bank | 15213 | 25950 | 7858 | 5187 | 3416 | 18381
parent company | 21194 | 30004 | 21348 | 19096 | 12131 | 88171
total | $ 71473 | $ 94234 | $ 37219 | $ 31903 | $ 21927 | $ 124427
----------------------------------------
--------
Post-table: ['.'] | 0.49062 | C/2010/page_229.pdf-1 | ['cgmhi has committed long-term financing facilities with unaffiliated banks .', 'at december 31 , 2010 , cgmhi had drawn down the full $ 900 million available under these facilities , of which $ 150 million is guaranteed by citigroup .', 'generally , a bank can terminate these facilities by giving cgmhi one-year prior notice .', 'the company issues both fixed and variable rate debt in a range of currencies .', 'it uses derivative contracts , primarily interest rate swaps , to effectively convert a portion of its fixed rate debt to variable rate debt and variable rate debt to fixed rate debt .', 'the maturity structure of the derivatives generally corresponds to the maturity structure of the debt being hedged .', 'in addition , the company uses other derivative contracts to manage the foreign exchange impact of certain debt issuances .', 'at december 31 , 2010 , the company 2019s overall weighted average interest rate for long-term debt was 3.53% ( 3.53 % ) on a contractual basis and 2.78% ( 2.78 % ) including the effects of derivative contracts .', 'aggregate annual maturities of long-term debt obligations ( based on final maturity dates ) including trust preferred securities are as follows : long-term debt at december 31 , 2010 and december 31 , 2009 includes $ 18131 million and $ 19345 million , respectively , of junior subordinated debt .', 'the company formed statutory business trusts under the laws of the state of delaware .', 'the trusts exist for the exclusive purposes of ( i ) issuing trust securities representing undivided beneficial interests in the assets of the trust ; ( ii ) investing the gross proceeds of the trust securities in junior subordinated deferrable interest debentures ( subordinated debentures ) of its parent ; and ( iii ) engaging in only those activities necessary or incidental thereto .', 'upon approval from the federal reserve , citigroup has the right to redeem these securities .', 'citigroup has contractually agreed not to redeem or purchase ( i ) the 6.50% ( 6.50 % ) enhanced trust preferred securities of citigroup capital xv before september 15 , 2056 , ( ii ) the 6.45% ( 6.45 % ) enhanced trust preferred securities of citigroup capital xvi before december 31 , 2046 , ( iii ) the 6.35% ( 6.35 % ) enhanced trust preferred securities of citigroup capital xvii before march 15 , 2057 , ( iv ) the 6.829% ( 6.829 % ) fixed rate/floating rate enhanced trust preferred securities of citigroup capital xviii before june 28 , 2047 , ( v ) the 7.250% ( 7.250 % ) enhanced trust preferred securities of citigroup capital xix before august 15 , 2047 , ( vi ) the 7.875% ( 7.875 % ) enhanced trust preferred securities of citigroup capital xx before december 15 , 2067 , and ( vii ) the 8.300% ( 8.300 % ) fixed rate/floating rate enhanced trust preferred securities of citigroup capital xxi before december 21 , 2067 , unless certain conditions , described in exhibit 4.03 to citigroup 2019s current report on form 8-k filed on september 18 , 2006 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on november 28 , 2006 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on march 8 , 2007 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on july 2 , 2007 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on august 17 , 2007 , in exhibit 4.2 to citigroup 2019s current report on form 8-k filed on november 27 , 2007 , and in exhibit 4.2 to citigroup 2019s current report on form 8-k filed on december 21 , 2007 , respectively , are met .', 'these agreements are for the benefit of the holders of citigroup 2019s 6.00% ( 6.00 % ) junior subordinated deferrable interest debentures due 2034 .', 'citigroup owns all of the voting securities of these subsidiary trusts .', 'these subsidiary trusts have no assets , operations , revenues or cash flows other than those related to the issuance , administration , and repayment of the subsidiary trusts and the subsidiary trusts 2019 common securities .', 'these subsidiary trusts 2019 obligations are fully and unconditionally guaranteed by citigroup. .'] | ['.'] | ----------------------------------------
in millions of dollars | 2011 | 2012 | 2013 | 2014 | 2015 | thereafter
----------|----------|----------|----------|----------|----------|----------
bank | $ 35066 | $ 38280 | $ 8013 | $ 7620 | $ 6380 | $ 17875
non-bank | 15213 | 25950 | 7858 | 5187 | 3416 | 18381
parent company | 21194 | 30004 | 21348 | 19096 | 12131 | 88171
total | $ 71473 | $ 94234 | $ 37219 | $ 31903 | $ 21927 | $ 124427
---------------------------------------- | divide(35066, 71473) | 0.49062 |
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