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what is the net change in net revenue during 2015 for entergy louisiana? | Pre-text: ['entergy louisiana , llc and subsidiaries management 2019s financial discussion and analysis in industrial usage is primarily due to increased demand from new customers and expansion projects , primarily in the chemicals industry .', 'the louisiana act 55 financing savings obligation variance results from a regulatory charge for tax savings to be shared with customers per an agreement approved by the lpsc .', 'the tax savings resulted from the 2010-2011 irs audit settlement on the treatment of the louisiana act 55 financing of storm costs for hurricane gustav and hurricane ike .', 'see note 3 to the financial statements for additional discussion of the settlement and benefit sharing .', 'included in other is a provision of $ 23 million recorded in 2016 related to the settlement of the waterford 3 replacement steam generator prudence review proceeding , offset by a provision of $ 32 million recorded in 2015 related to the uncertainty at that time associated with the resolution of the waterford 3 replacement steam generator prudence review proceeding .', 'see note 2 to the financial statements for a discussion of the waterford 3 replacement steam generator prudence review proceeding .', '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 ( credits ) .', '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, $ 2246.1
retail electric price, 180.0
volume/weather, 39.5
waterford 3 replacement steam generator provision, -32.0 ( 32.0 )
miso deferral, -32.0 ( 32.0 )
other, 7.2
2015 net revenue, $ 2408.8
Additional Information: ['the retail electric price variance is primarily due to formula rate plan increases , as approved by the lpsc , effective december 2014 and january 2015 .', 'entergy louisiana 2019s formula rate plan increases are discussed in note 2 to the financial statements .', 'the volume/weather variance is primarily due to an increase of 841 gwh , or 2% ( 2 % ) , in billed electricity usage , as a result of increased industrial usage primarily due to increased demand for existing large refinery customers , new customers , and expansion projects primarily in the chemicals industry , partially offset by a decrease in demand in the chemicals industry as a result of a seasonal outage for an existing customer .', 'the waterford 3 replacement steam generator provision is due to a regulatory charge of approximately $ 32 million recorded in 2015 related to the uncertainty associated with the resolution of the waterford 3 replacement steam generator project .', 'see note 2 to the financial statements for a discussion of the waterford 3 replacement steam generator prudence review proceeding .', 'the miso deferral variance is due to the deferral in 2014 of non-fuel miso-related charges , as approved by the lpsc .', 'the deferral of non-fuel miso-related charges is partially offset in other operation and maintenance expenses .', 'see note 2 to the financial statements for further discussion of the recovery of non-fuel miso-related charges. .'] | 162.7 | ETR/2016/page_343.pdf-3 | ['entergy louisiana , llc and subsidiaries management 2019s financial discussion and analysis in industrial usage is primarily due to increased demand from new customers and expansion projects , primarily in the chemicals industry .', 'the louisiana act 55 financing savings obligation variance results from a regulatory charge for tax savings to be shared with customers per an agreement approved by the lpsc .', 'the tax savings resulted from the 2010-2011 irs audit settlement on the treatment of the louisiana act 55 financing of storm costs for hurricane gustav and hurricane ike .', 'see note 3 to the financial statements for additional discussion of the settlement and benefit sharing .', 'included in other is a provision of $ 23 million recorded in 2016 related to the settlement of the waterford 3 replacement steam generator prudence review proceeding , offset by a provision of $ 32 million recorded in 2015 related to the uncertainty at that time associated with the resolution of the waterford 3 replacement steam generator prudence review proceeding .', 'see note 2 to the financial statements for a discussion of the waterford 3 replacement steam generator prudence review proceeding .', '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 ( credits ) .', 'following is an analysis of the change in net revenue comparing 2015 to 2014 .', 'amount ( in millions ) .'] | ['the retail electric price variance is primarily due to formula rate plan increases , as approved by the lpsc , effective december 2014 and january 2015 .', 'entergy louisiana 2019s formula rate plan increases are discussed in note 2 to the financial statements .', 'the volume/weather variance is primarily due to an increase of 841 gwh , or 2% ( 2 % ) , in billed electricity usage , as a result of increased industrial usage primarily due to increased demand for existing large refinery customers , new customers , and expansion projects primarily in the chemicals industry , partially offset by a decrease in demand in the chemicals industry as a result of a seasonal outage for an existing customer .', 'the waterford 3 replacement steam generator provision is due to a regulatory charge of approximately $ 32 million recorded in 2015 related to the uncertainty associated with the resolution of the waterford 3 replacement steam generator project .', 'see note 2 to the financial statements for a discussion of the waterford 3 replacement steam generator prudence review proceeding .', 'the miso deferral variance is due to the deferral in 2014 of non-fuel miso-related charges , as approved by the lpsc .', 'the deferral of non-fuel miso-related charges is partially offset in other operation and maintenance expenses .', 'see note 2 to the financial statements for further discussion of the recovery of non-fuel miso-related charges. .'] | , amount ( in millions )
2014 net revenue, $ 2246.1
retail electric price, 180.0
volume/weather, 39.5
waterford 3 replacement steam generator provision, -32.0 ( 32.0 )
miso deferral, -32.0 ( 32.0 )
other, 7.2
2015 net revenue, $ 2408.8 | subtract(2408.8, 2246.1) | 162.7 |
what the provisions to operating cash flow from money pool as a percentage of receivables from the money pool in 2003? | Background: ['entergy new orleans , inc .', "management's financial discussion and analysis entergy new orleans' receivables from the money pool were as follows as of december 31 for each of the following years: ."]
####
Data Table:
****************************************
2004, 2003, 2002, 2001
( in thousands ), ( in thousands ), ( in thousands ), ( in thousands )
$ 1413, $ 1783, $ 3500, $ 9208
****************************************
####
Additional Information: ["money pool activity provided $ 0.4 million of entergy new orleans' operating cash flow in 2004 , provided $ 1.7 million in 2003 , and provided $ 5.7 million in 2002 .", 'see note 4 to the domestic utility companies and system energy financial statements for a description of the money pool .', 'investing activities net cash used in investing activities decreased $ 15.5 million in 2004 primarily due to capital expenditures related to a turbine inspection project at a fossil plant in 2003 and decreased customer service spending .', 'net cash used in investing activities increased $ 23.2 million in 2003 compared to 2002 primarily due to the maturity of $ 14.9 million of other temporary investments in 2002 and increased construction expenditures due to increased customer service spending .', 'financing activities net cash used in financing activities increased $ 7.0 million in 2004 primarily due to the costs and expenses related to refinancing $ 75 million of long-term debt in 2004 and an increase of $ 2.2 million in common stock dividends paid .', 'net cash used in financing activities increased $ 1.5 million in 2003 primarily due to additional common stock dividends paid of $ 2.2 million .', 'in july 2003 , entergy new orleans issued $ 30 million of 3.875% ( 3.875 % ) series first mortgage bonds due august 2008 and $ 70 million of 5.25% ( 5.25 % ) series first mortgage bonds due august 2013 .', 'the proceeds from these issuances were used to redeem , prior to maturity , $ 30 million of 7% ( 7 % ) series first mortgage bonds due july 2008 , $ 40 million of 8% ( 8 % ) series bonds due march 2006 , and $ 30 million of 6.65% ( 6.65 % ) series first mortgage bonds due march 2004 .', 'the issuances and redemptions are not shown on the cash flow statement because the proceeds from the issuances were placed in a trust for use in the redemptions and never held as cash by entergy new orleans .', 'see note 5 to the domestic utility companies and system energy financial statements for details on long- term debt .', 'uses of capital entergy new orleans requires capital resources for : 2022 construction and other capital investments ; 2022 debt and preferred stock maturities ; 2022 working capital purposes , including the financing of fuel and purchased power costs ; and 2022 dividend and interest payments. .'] | 0.95345 | ETR/2004/page_261.pdf-3 | ['entergy new orleans , inc .', "management's financial discussion and analysis entergy new orleans' receivables from the money pool were as follows as of december 31 for each of the following years: ."] | ["money pool activity provided $ 0.4 million of entergy new orleans' operating cash flow in 2004 , provided $ 1.7 million in 2003 , and provided $ 5.7 million in 2002 .", 'see note 4 to the domestic utility companies and system energy financial statements for a description of the money pool .', 'investing activities net cash used in investing activities decreased $ 15.5 million in 2004 primarily due to capital expenditures related to a turbine inspection project at a fossil plant in 2003 and decreased customer service spending .', 'net cash used in investing activities increased $ 23.2 million in 2003 compared to 2002 primarily due to the maturity of $ 14.9 million of other temporary investments in 2002 and increased construction expenditures due to increased customer service spending .', 'financing activities net cash used in financing activities increased $ 7.0 million in 2004 primarily due to the costs and expenses related to refinancing $ 75 million of long-term debt in 2004 and an increase of $ 2.2 million in common stock dividends paid .', 'net cash used in financing activities increased $ 1.5 million in 2003 primarily due to additional common stock dividends paid of $ 2.2 million .', 'in july 2003 , entergy new orleans issued $ 30 million of 3.875% ( 3.875 % ) series first mortgage bonds due august 2008 and $ 70 million of 5.25% ( 5.25 % ) series first mortgage bonds due august 2013 .', 'the proceeds from these issuances were used to redeem , prior to maturity , $ 30 million of 7% ( 7 % ) series first mortgage bonds due july 2008 , $ 40 million of 8% ( 8 % ) series bonds due march 2006 , and $ 30 million of 6.65% ( 6.65 % ) series first mortgage bonds due march 2004 .', 'the issuances and redemptions are not shown on the cash flow statement because the proceeds from the issuances were placed in a trust for use in the redemptions and never held as cash by entergy new orleans .', 'see note 5 to the domestic utility companies and system energy financial statements for details on long- term debt .', 'uses of capital entergy new orleans requires capital resources for : 2022 construction and other capital investments ; 2022 debt and preferred stock maturities ; 2022 working capital purposes , including the financing of fuel and purchased power costs ; and 2022 dividend and interest payments. .'] | ****************************************
2004, 2003, 2002, 2001
( in thousands ), ( in thousands ), ( in thousands ), ( in thousands )
$ 1413, $ 1783, $ 3500, $ 9208
**************************************** | divide(1783, const_1000), divide(1.7, #0) | 0.95345 |
as of december 31 , 2015 what was the percent of the debt maturities scheduled to mature in 2016 | Pre-text: ['devon energy corporation and subsidiaries notes to consolidated financial statements 2013 ( continued ) debt maturities as of december 31 , 2015 , excluding premiums and discounts , are as follows ( millions ) : .']
--------
Table:
2016, $ 976
2017, 2014
2018, 875
2019, 1100
2020, 414
thereafter, 9763
total, $ 13128
--------
Post-table: ['credit lines devon has a $ 3.0 billion senior credit facility .', 'the maturity date for $ 30 million of the senior credit facility is october 24 , 2017 .', 'the maturity date for $ 164 million of the senior credit facility is october 24 , 2018 .', 'the maturity date for the remaining $ 2.8 billion is october 24 , 2019 .', 'amounts borrowed under the senior credit facility may , at the election of devon , bear interest at various fixed rate options for periods of up to twelve months .', 'such rates are generally less than the prime rate .', 'however , devon may elect to borrow at the prime rate .', 'the senior credit facility currently provides for an annual facility fee of $ 3.8 million that is payable quarterly in arrears .', 'as of december 31 , 2015 , there were no borrowings under the senior credit facility .', 'the senior credit facility contains only one material financial covenant .', 'this covenant requires devon 2019s ratio of total funded debt to total capitalization , as defined in the credit agreement , to be no greater than 65% ( 65 % ) .', 'the credit agreement contains definitions of total funded debt and total capitalization that include adjustments to the respective amounts reported in the accompanying consolidated financial statements .', 'also , total capitalization is adjusted to add back noncash financial write-downs such as full cost ceiling impairments or goodwill impairments .', 'as of december 31 , 2015 , devon was in compliance with this covenant with a debt-to- capitalization ratio of 23.7% ( 23.7 % ) .', 'commercial paper devon 2019s senior credit facility supports its $ 3.0 billion of short-term credit under its commercial paper program .', 'commercial paper debt generally has a maturity of between 1 and 90 days , although it can have a maturity of up to 365 days , and bears interest at rates agreed to at the time of the borrowing .', 'the interest rate is generally based on a standard index such as the federal funds rate , libor or the money market rate as found in the commercial paper market .', 'as of december 31 , 2015 , devon 2019s outstanding commercial paper borrowings had a weighted-average borrowing rate of 0.63% ( 0.63 % ) .', 'issuance of senior notes in june 2015 , devon issued $ 750 million of 5.0% ( 5.0 % ) senior notes due 2045 that are unsecured and unsubordinated obligations .', 'devon used the net proceeds to repay the floating rate senior notes that matured on december 15 , 2015 , as well as outstanding commercial paper balances .', 'in december 2015 , in conjunction with the announcement of the powder river basin and stack acquisitions , devon issued $ 850 million of 5.85% ( 5.85 % ) senior notes due 2025 that are unsecured and unsubordinated obligations .', 'devon used the net proceeds to fund the cash portion of these acquisitions. .'] | 0.07434 | DVN/2015/page_92.pdf-4 | ['devon energy corporation and subsidiaries notes to consolidated financial statements 2013 ( continued ) debt maturities as of december 31 , 2015 , excluding premiums and discounts , are as follows ( millions ) : .'] | ['credit lines devon has a $ 3.0 billion senior credit facility .', 'the maturity date for $ 30 million of the senior credit facility is october 24 , 2017 .', 'the maturity date for $ 164 million of the senior credit facility is october 24 , 2018 .', 'the maturity date for the remaining $ 2.8 billion is october 24 , 2019 .', 'amounts borrowed under the senior credit facility may , at the election of devon , bear interest at various fixed rate options for periods of up to twelve months .', 'such rates are generally less than the prime rate .', 'however , devon may elect to borrow at the prime rate .', 'the senior credit facility currently provides for an annual facility fee of $ 3.8 million that is payable quarterly in arrears .', 'as of december 31 , 2015 , there were no borrowings under the senior credit facility .', 'the senior credit facility contains only one material financial covenant .', 'this covenant requires devon 2019s ratio of total funded debt to total capitalization , as defined in the credit agreement , to be no greater than 65% ( 65 % ) .', 'the credit agreement contains definitions of total funded debt and total capitalization that include adjustments to the respective amounts reported in the accompanying consolidated financial statements .', 'also , total capitalization is adjusted to add back noncash financial write-downs such as full cost ceiling impairments or goodwill impairments .', 'as of december 31 , 2015 , devon was in compliance with this covenant with a debt-to- capitalization ratio of 23.7% ( 23.7 % ) .', 'commercial paper devon 2019s senior credit facility supports its $ 3.0 billion of short-term credit under its commercial paper program .', 'commercial paper debt generally has a maturity of between 1 and 90 days , although it can have a maturity of up to 365 days , and bears interest at rates agreed to at the time of the borrowing .', 'the interest rate is generally based on a standard index such as the federal funds rate , libor or the money market rate as found in the commercial paper market .', 'as of december 31 , 2015 , devon 2019s outstanding commercial paper borrowings had a weighted-average borrowing rate of 0.63% ( 0.63 % ) .', 'issuance of senior notes in june 2015 , devon issued $ 750 million of 5.0% ( 5.0 % ) senior notes due 2045 that are unsecured and unsubordinated obligations .', 'devon used the net proceeds to repay the floating rate senior notes that matured on december 15 , 2015 , as well as outstanding commercial paper balances .', 'in december 2015 , in conjunction with the announcement of the powder river basin and stack acquisitions , devon issued $ 850 million of 5.85% ( 5.85 % ) senior notes due 2025 that are unsecured and unsubordinated obligations .', 'devon used the net proceeds to fund the cash portion of these acquisitions. .'] | 2016, $ 976
2017, 2014
2018, 875
2019, 1100
2020, 414
thereafter, 9763
total, $ 13128 | divide(976, 13128) | 0.07434 |
\\nin june 2015 what was the percent of the five-year notes due 2020 with a coupon of 3% ( 3 % ) of senior notes in a registered public offering | Pre-text: ['our operating cash flows are significantly impacted by the seasonality of our businesses .', 'we typically generate most of our operating cash flow in the third and fourth quarters of each year .', 'in june 2015 , we issued $ 900 million of senior notes in a registered public offering .', 'the senior notes consist of two tranches : $ 400 million of five-year notes due 2020 with a coupon of 3% ( 3 % ) and $ 500 million of ten-year notes due 2025 with a coupon of 4% ( 4 % ) .', 'we used the proceeds from the senior notes offering to pay down our revolving credit facility and for general corporate purposes .', 'on december 31 , 2017 , the outstanding amount of the senior notes , net of underwriting commissions and price discounts , was $ 892.6 million .', 'cash flows below is a summary of cash flows for the years ended december 31 , 2017 , 2016 and 2015 .', '( in millions ) 2017 2016 2015 .']
Data Table:
Row 1: ( in millions ), 2017, 2016, 2015
Row 2: net cash provided by operating activities, $ 600.3, $ 650.5, $ 429.2
Row 3: net cash used in investing activities, -287.7 ( 287.7 ), -385.1 ( 385.1 ), -766.6 ( 766.6 )
Row 4: net cash ( used in ) provided by financing activities, -250.1 ( 250.1 ), -250.4 ( 250.4 ), 398.8
Row 5: effect of foreign exchange rate changes on cash, 9.0, -2.0 ( 2.0 ), -14.8 ( 14.8 )
Row 6: net increase in cash and cash equivalents, $ 71.5, $ 13.0, $ 46.6
Additional Information: ['net cash provided by operating activities was $ 600.3 million in 2017 compared to $ 650.5 million in 2016 and $ 429.2 million in 2015 .', 'the $ 50.2 million decrease in cash provided by operating activities from 2017 to 2016 was primarily due to higher build in working capital , primarily driven by higher inventory purchases in 2017 , partially offset by a higher net income .', 'the $ 221.3 million increase in cash provided by operating activities from 2015 to 2016 was primarily due to a reduction in working capital in 2016 compared to 2015 and higher net income .', 'net cash used in investing activities was $ 287.7 million in 2017 compared to $ 385.1 million in 2016 and $ 766.6 million in 2015 .', 'the decrease of $ 97.4 million from 2016 to 2017 was primarily due lower cost of acquisitions of $ 115.1 million , partially offset by $ 15.7 million of higher capital expenditures .', 'the decrease of $ 381.5 million from 2015 to 2016 was primarily due the decrease in cost of acquisitions of $ 413.1 million , partially offset by $ 20.8 million of higher capital spending .', 'net cash used in financing activities was $ 250.1 million in 2017 compared to net cash used in financing activities of $ 250.4 million in 2016 and net cash provided by in financing activities of $ 398.8 million in 2015 .', 'the change of $ 649.2 million in 2016 compared to 2015 was primarily due to $ 372.8 million of higher share repurchases and lower net borrowings of $ 240.8 million .', 'pension plans subsidiaries of fortune brands sponsor their respective defined benefit pension plans that are funded by a portfolio of investments maintained within our benefit plan trust .', 'in 2017 , 2016 and 2015 , we contributed $ 28.4 million , zero and $ 2.3 million , respectively , to qualified pension plans .', 'in 2018 , we expect to make pension contributions of approximately $ 12.8 million .', 'as of december 31 , 2017 , the fair value of our total pension plan assets was $ 656.6 million , representing funding of 79% ( 79 % ) of the accumulated benefit obligation liability .', 'for the foreseeable future , we believe that we have sufficient liquidity to meet the minimum funding that may be required by the pension protection act of 2006 .', 'foreign exchange we have operations in various foreign countries , principally canada , china , mexico , the united kingdom , france , australia and japan .', 'therefore , changes in the value of the related currencies affect our financial statements when translated into u.s .', 'dollars. .'] | 0.44444 | FBHS/2017/page_48.pdf-1 | ['our operating cash flows are significantly impacted by the seasonality of our businesses .', 'we typically generate most of our operating cash flow in the third and fourth quarters of each year .', 'in june 2015 , we issued $ 900 million of senior notes in a registered public offering .', 'the senior notes consist of two tranches : $ 400 million of five-year notes due 2020 with a coupon of 3% ( 3 % ) and $ 500 million of ten-year notes due 2025 with a coupon of 4% ( 4 % ) .', 'we used the proceeds from the senior notes offering to pay down our revolving credit facility and for general corporate purposes .', 'on december 31 , 2017 , the outstanding amount of the senior notes , net of underwriting commissions and price discounts , was $ 892.6 million .', 'cash flows below is a summary of cash flows for the years ended december 31 , 2017 , 2016 and 2015 .', '( in millions ) 2017 2016 2015 .'] | ['net cash provided by operating activities was $ 600.3 million in 2017 compared to $ 650.5 million in 2016 and $ 429.2 million in 2015 .', 'the $ 50.2 million decrease in cash provided by operating activities from 2017 to 2016 was primarily due to higher build in working capital , primarily driven by higher inventory purchases in 2017 , partially offset by a higher net income .', 'the $ 221.3 million increase in cash provided by operating activities from 2015 to 2016 was primarily due to a reduction in working capital in 2016 compared to 2015 and higher net income .', 'net cash used in investing activities was $ 287.7 million in 2017 compared to $ 385.1 million in 2016 and $ 766.6 million in 2015 .', 'the decrease of $ 97.4 million from 2016 to 2017 was primarily due lower cost of acquisitions of $ 115.1 million , partially offset by $ 15.7 million of higher capital expenditures .', 'the decrease of $ 381.5 million from 2015 to 2016 was primarily due the decrease in cost of acquisitions of $ 413.1 million , partially offset by $ 20.8 million of higher capital spending .', 'net cash used in financing activities was $ 250.1 million in 2017 compared to net cash used in financing activities of $ 250.4 million in 2016 and net cash provided by in financing activities of $ 398.8 million in 2015 .', 'the change of $ 649.2 million in 2016 compared to 2015 was primarily due to $ 372.8 million of higher share repurchases and lower net borrowings of $ 240.8 million .', 'pension plans subsidiaries of fortune brands sponsor their respective defined benefit pension plans that are funded by a portfolio of investments maintained within our benefit plan trust .', 'in 2017 , 2016 and 2015 , we contributed $ 28.4 million , zero and $ 2.3 million , respectively , to qualified pension plans .', 'in 2018 , we expect to make pension contributions of approximately $ 12.8 million .', 'as of december 31 , 2017 , the fair value of our total pension plan assets was $ 656.6 million , representing funding of 79% ( 79 % ) of the accumulated benefit obligation liability .', 'for the foreseeable future , we believe that we have sufficient liquidity to meet the minimum funding that may be required by the pension protection act of 2006 .', 'foreign exchange we have operations in various foreign countries , principally canada , china , mexico , the united kingdom , france , australia and japan .', 'therefore , changes in the value of the related currencies affect our financial statements when translated into u.s .', 'dollars. .'] | Row 1: ( in millions ), 2017, 2016, 2015
Row 2: net cash provided by operating activities, $ 600.3, $ 650.5, $ 429.2
Row 3: net cash used in investing activities, -287.7 ( 287.7 ), -385.1 ( 385.1 ), -766.6 ( 766.6 )
Row 4: net cash ( used in ) provided by financing activities, -250.1 ( 250.1 ), -250.4 ( 250.4 ), 398.8
Row 5: effect of foreign exchange rate changes on cash, 9.0, -2.0 ( 2.0 ), -14.8 ( 14.8 )
Row 6: net increase in cash and cash equivalents, $ 71.5, $ 13.0, $ 46.6 | divide(400, 900) | 0.44444 |
what was the total amount of returns that jkhy , peer group and s&p 500 had made combined by june 30 , 2012? | Context: ['22 2016 annual report performance graph the following chart presents a comparison for the five-year period ended june 30 , 2016 , of the market performance of the company 2019s common stock with the s&p 500 index and an index of peer companies selected by the company : comparison of 5 year cumulative total return among jack henry & associates , inc. , the s&p 500 index , and a peer group the following information depicts a line graph with the following values: .']
Data Table:
----------------------------------------
2011 2012 2013 2014 2015 2016
jkhy 100.00 116.62 161.33 206.53 228.24 312.11
peer group 100.00 107.65 126.89 174.28 219.46 251.24
s&p 500 100.00 105.45 127.17 158.46 170.22 177.02
----------------------------------------
Additional Information: ['this comparison assumes $ 100 was invested on june 30 , 2011 , and assumes reinvestments of dividends .', 'total returns are calculated according to market capitalization of peer group members at the beginning of each period .', 'peer companies selected are in the business of providing specialized computer software , hardware and related services to financial institutions and other businesses .', 'companies in the peer group are aci worldwide , inc. , bottomline technology , inc. , broadridge financial solutions , cardtronics , inc. , convergys corp. , corelogic , inc. , dst systems , inc. , euronet worldwide , inc. , fair isaac corp. , fidelity national information services , inc. , fiserv , inc. , global payments , inc. , moneygram international , inc. , ss&c technologies holdings , inc. , total systems services , inc. , tyler technologies , inc. , verifone systems , inc. , and wex , inc. .', 'heartland payment systems , inc .', 'was removed from the peer group as it merged with global payments , inc .', 'in april 2016. .'] | 29.72 | JKHY/2016/page_25.pdf-3 | ['22 2016 annual report performance graph the following chart presents a comparison for the five-year period ended june 30 , 2016 , of the market performance of the company 2019s common stock with the s&p 500 index and an index of peer companies selected by the company : comparison of 5 year cumulative total return among jack henry & associates , inc. , the s&p 500 index , and a peer group the following information depicts a line graph with the following values: .'] | ['this comparison assumes $ 100 was invested on june 30 , 2011 , and assumes reinvestments of dividends .', 'total returns are calculated according to market capitalization of peer group members at the beginning of each period .', 'peer companies selected are in the business of providing specialized computer software , hardware and related services to financial institutions and other businesses .', 'companies in the peer group are aci worldwide , inc. , bottomline technology , inc. , broadridge financial solutions , cardtronics , inc. , convergys corp. , corelogic , inc. , dst systems , inc. , euronet worldwide , inc. , fair isaac corp. , fidelity national information services , inc. , fiserv , inc. , global payments , inc. , moneygram international , inc. , ss&c technologies holdings , inc. , total systems services , inc. , tyler technologies , inc. , verifone systems , inc. , and wex , inc. .', 'heartland payment systems , inc .', 'was removed from the peer group as it merged with global payments , inc .', 'in april 2016. .'] | ----------------------------------------
2011 2012 2013 2014 2015 2016
jkhy 100.00 116.62 161.33 206.53 228.24 312.11
peer group 100.00 107.65 126.89 174.28 219.46 251.24
s&p 500 100.00 105.45 127.17 158.46 170.22 177.02
---------------------------------------- | subtract(116.62, 100), subtract(107.65, 100), subtract(105.45, 100), add(#0, #1), add(#2, #3) | 29.72 |
what portion of the balance of cash and cash equivalents on hand is held outside u.s . in 2017? | Context: ['liquidity and capital resources we currently expect to fund all of our cash requirements which are reasonably foreseeable for 2018 , including scheduled debt repayments , new investments in the business , share repurchases , dividend payments , possible business acquisitions and pension contributions , with cash from operating activities , and as needed , additional short-term and/or long-term borrowings .', 'we continue to expect our operating cash flow to remain strong .', 'as of december 31 , 2017 , we had $ 211 million of cash and cash equivalents on hand , of which $ 151 million was held outside of the as of december 31 , 2016 , we had $ 327 million of cash and cash equivalents on hand , of which $ 184 million was held outside of the u.s .', 'as of december 31 , 2015 , we had $ 26 million of deferred tax liabilities for pre-acquisition foreign earnings associated with the legacy nalco entities and legacy champion entities that we intended to repatriate .', 'these liabilities were recorded as part of the respective purchase price accounting of each transaction .', 'the remaining foreign earnings were repatriated in 2016 , reducing the deferred tax liabilities to zero at december 31 , 2016 .', 'as of december 31 , 2017 we had a $ 2.0 billion multi-year credit facility , which expires in november 2022 .', 'the credit facility has been established with a diverse syndicate of banks .', 'there were no borrowings under our credit facility as of december 31 , 2017 or 2016 .', 'the credit facility supports our $ 2.0 billion u.s .', 'commercial paper program and $ 2.0 billion european commercial paper program .', 'combined borrowing under these two commercial paper programs may not exceed $ 2.0 billion .', 'at year-end , we had no amount outstanding under the european commercial paper program and no amount outstanding under the u.s .', 'commercial paper program .', 'additionally , we have uncommitted credit lines of $ 660 million with major international banks and financial institutions to support our general global funding needs .', 'most of these lines are used to support global cash pooling structures .', 'approximately $ 643 million of these credit lines were available for use as of year-end 2017 .', 'bank supported letters of credit , surety bonds and guarantees total $ 198 million and represent commercial business transactions .', 'we do not have any other significant unconditional purchase obligations or commercial commitments .', 'as of december 31 , 2017 , our short-term borrowing program was rated a-2 by standard & poor 2019s and p-2 by moody 2019s .', 'as of december 31 , 2017 , standard & poor 2019s and moody 2019s rated our long-term credit at a- ( stable outlook ) and baa1 ( stable outlook ) , respectively .', 'a reduction in our credit ratings could limit or preclude our ability to issue commercial paper under our current programs , or could also adversely affect our ability to renew existing , or negotiate new , credit facilities in the future and could increase the cost of these facilities .', 'should this occur , we could seek additional sources of funding , including issuing additional term notes or bonds .', 'in addition , we have the ability , at our option , to draw upon our $ 2.0 billion of committed credit facility .', 'we are in compliance with our debt covenants and other requirements of our credit agreements and indentures .', 'a schedule of our various obligations as of december 31 , 2017 are summarized in the following table: .']
------
Table:
****************************************
Row 1: ( millions ), total, payments due by period less than 1 year, payments due by period 2-3 years, payments due by period 4-5 years, payments due by period more than 5 years
Row 2: notes payable, $ 15, $ 15, $ -, $ -, $ -
Row 3: one-time transition tax, 160, 13, 26, 26, 95
Row 4: long-term debt, 7303, 549, 696, 1513, 4545
Row 5: capital lease obligations, 5, 1, 1, 1, 2
Row 6: operating leases, 617, 131, 211, 160, 115
Row 7: interest*, 2753, 242, 436, 375, 1700
Row 8: total, $ 10853, $ 951, $ 1370, $ 2075, $ 6457
****************************************
------
Additional Information: ['* interest on variable rate debt was calculated using the interest rate at year-end 2017 .', 'during the fourth quarter of 2017 , we recorded a one-time transition tax related to enactment of the tax act .', 'the expense is primarily related to the one-time transition tax , which is payable over eight years .', 'as discussed further in note 12 , this balance is a provisional amount and is subject to adjustment during the measurement period of up to one year following the enactment of the tax act , as provided by recent sec guidance .', 'as of december 31 , 2017 , our gross liability for uncertain tax positions was $ 68 million .', 'we are not able to reasonably estimate the amount by which the liability will increase or decrease over an extended period of time or whether a cash settlement of the liability will be required .', 'therefore , these amounts have been excluded from the schedule of contractual obligations. .'] | 0.71564 | ECL/2017/page_57.pdf-2 | ['liquidity and capital resources we currently expect to fund all of our cash requirements which are reasonably foreseeable for 2018 , including scheduled debt repayments , new investments in the business , share repurchases , dividend payments , possible business acquisitions and pension contributions , with cash from operating activities , and as needed , additional short-term and/or long-term borrowings .', 'we continue to expect our operating cash flow to remain strong .', 'as of december 31 , 2017 , we had $ 211 million of cash and cash equivalents on hand , of which $ 151 million was held outside of the as of december 31 , 2016 , we had $ 327 million of cash and cash equivalents on hand , of which $ 184 million was held outside of the u.s .', 'as of december 31 , 2015 , we had $ 26 million of deferred tax liabilities for pre-acquisition foreign earnings associated with the legacy nalco entities and legacy champion entities that we intended to repatriate .', 'these liabilities were recorded as part of the respective purchase price accounting of each transaction .', 'the remaining foreign earnings were repatriated in 2016 , reducing the deferred tax liabilities to zero at december 31 , 2016 .', 'as of december 31 , 2017 we had a $ 2.0 billion multi-year credit facility , which expires in november 2022 .', 'the credit facility has been established with a diverse syndicate of banks .', 'there were no borrowings under our credit facility as of december 31 , 2017 or 2016 .', 'the credit facility supports our $ 2.0 billion u.s .', 'commercial paper program and $ 2.0 billion european commercial paper program .', 'combined borrowing under these two commercial paper programs may not exceed $ 2.0 billion .', 'at year-end , we had no amount outstanding under the european commercial paper program and no amount outstanding under the u.s .', 'commercial paper program .', 'additionally , we have uncommitted credit lines of $ 660 million with major international banks and financial institutions to support our general global funding needs .', 'most of these lines are used to support global cash pooling structures .', 'approximately $ 643 million of these credit lines were available for use as of year-end 2017 .', 'bank supported letters of credit , surety bonds and guarantees total $ 198 million and represent commercial business transactions .', 'we do not have any other significant unconditional purchase obligations or commercial commitments .', 'as of december 31 , 2017 , our short-term borrowing program was rated a-2 by standard & poor 2019s and p-2 by moody 2019s .', 'as of december 31 , 2017 , standard & poor 2019s and moody 2019s rated our long-term credit at a- ( stable outlook ) and baa1 ( stable outlook ) , respectively .', 'a reduction in our credit ratings could limit or preclude our ability to issue commercial paper under our current programs , or could also adversely affect our ability to renew existing , or negotiate new , credit facilities in the future and could increase the cost of these facilities .', 'should this occur , we could seek additional sources of funding , including issuing additional term notes or bonds .', 'in addition , we have the ability , at our option , to draw upon our $ 2.0 billion of committed credit facility .', 'we are in compliance with our debt covenants and other requirements of our credit agreements and indentures .', 'a schedule of our various obligations as of december 31 , 2017 are summarized in the following table: .'] | ['* interest on variable rate debt was calculated using the interest rate at year-end 2017 .', 'during the fourth quarter of 2017 , we recorded a one-time transition tax related to enactment of the tax act .', 'the expense is primarily related to the one-time transition tax , which is payable over eight years .', 'as discussed further in note 12 , this balance is a provisional amount and is subject to adjustment during the measurement period of up to one year following the enactment of the tax act , as provided by recent sec guidance .', 'as of december 31 , 2017 , our gross liability for uncertain tax positions was $ 68 million .', 'we are not able to reasonably estimate the amount by which the liability will increase or decrease over an extended period of time or whether a cash settlement of the liability will be required .', 'therefore , these amounts have been excluded from the schedule of contractual obligations. .'] | ****************************************
Row 1: ( millions ), total, payments due by period less than 1 year, payments due by period 2-3 years, payments due by period 4-5 years, payments due by period more than 5 years
Row 2: notes payable, $ 15, $ 15, $ -, $ -, $ -
Row 3: one-time transition tax, 160, 13, 26, 26, 95
Row 4: long-term debt, 7303, 549, 696, 1513, 4545
Row 5: capital lease obligations, 5, 1, 1, 1, 2
Row 6: operating leases, 617, 131, 211, 160, 115
Row 7: interest*, 2753, 242, 436, 375, 1700
Row 8: total, $ 10853, $ 951, $ 1370, $ 2075, $ 6457
**************************************** | divide(151, 211) | 0.71564 |
what percent of 2007 net revenue did the amortization of purchase power account for? | Context: ["entergy corporation and subsidiaries management's financial discussion and analysis the retail electric price variance resulted from rate increases primarily at entergy louisiana effective september 2006 for the 2005 formula rate plan filing to recover lpsc-approved incremental deferred and ongoing purchased power capacity costs .", 'the formula rate plan filing is discussed in note 2 to the financial statements .', 'the volume/weather variance resulted primarily from increased electricity usage in the residential and commercial sectors , including increased usage during the unbilled sales period .', 'billed retail electricity usage increased by a total of 1591 gwh , an increase of 1.6% ( 1.6 % ) .', 'see "critical accounting estimates" herein and note 1 to the financial statements for a discussion of the accounting for unbilled revenues .', "the fuel recovery variance is primarily due to the inclusion of grand gulf costs in entergy new orleans' fuel recoveries effective july 1 , 2006 .", 'in june 2006 , the city council approved the recovery of grand gulf costs through the fuel adjustment clause , without a corresponding change in base rates ( a significant portion of grand gulf costs was previously recovered through base rates ) .', 'the increase is also due to purchased power costs deferred at entergy louisiana and entergy new orleans as a result of the re-pricing , retroactive to 2003 , of purchased power agreements among entergy system companies as directed by the ferc .', 'the transmission revenue variance is due to higher rates and the addition of new transmission customers in late-2006 .', 'the purchased power capacity variance is due to higher capacity charges and new purchased power contracts that began in mid-2006 .', 'a portion of the variance is due to the amortization of deferred capacity costs and is offset in base revenues due to base rate increases implemented to recover incremental deferred and ongoing purchased power capacity charges at entergy louisiana , as discussed above .', "the net wholesale revenue variance is due primarily to 1 ) more energy available for resale at entergy new orleans in 2006 due to the decrease in retail usage caused by customer losses following hurricane katrina and 2 ) the inclusion in 2006 revenue of sales into the wholesale market of entergy new orleans' share of the output of grand gulf , pursuant to city council approval of measures proposed by entergy new orleans to address the reduction in entergy new orleans' retail customer usage caused by hurricane katrina and to provide revenue support for the costs of entergy new orleans' share of grand gulf .", 'the net wholesale revenue variance is partially offset by the effect of lower wholesale revenues in the third quarter 2006 due to an october 2006 ferc order requiring entergy arkansas to make a refund to a coal plant co-owner resulting from a contract dispute .', 'non-utility nuclear 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 | $ 1388
realized price changes | 264
palisades acquisition | 209
volume variance ( other than palisades ) | -56 ( 56 )
other | 34
2007 net revenue | $ 1839
----------------------------------------
##
Follow-up: ['as shown in the table above , net revenue increased for non-utility nuclear by $ 451 million , or 33% ( 33 % ) , for 2007 compared to 2006 primarily due to higher pricing in its contracts to sell power and additional production available resulting from the acquisition of the palisades plant in april 2007 .', 'included in the palisades net revenue is $ 50 million of amortization of the palisades purchased power agreement in 2007 , which is non-cash revenue and is discussed in note 15 to the financial statements .', 'the increase was partially offset by the effect on revenues of four .'] | 0.02719 | ETR/2008/page_33.pdf-3 | ["entergy corporation and subsidiaries management's financial discussion and analysis the retail electric price variance resulted from rate increases primarily at entergy louisiana effective september 2006 for the 2005 formula rate plan filing to recover lpsc-approved incremental deferred and ongoing purchased power capacity costs .", 'the formula rate plan filing is discussed in note 2 to the financial statements .', 'the volume/weather variance resulted primarily from increased electricity usage in the residential and commercial sectors , including increased usage during the unbilled sales period .', 'billed retail electricity usage increased by a total of 1591 gwh , an increase of 1.6% ( 1.6 % ) .', 'see "critical accounting estimates" herein and note 1 to the financial statements for a discussion of the accounting for unbilled revenues .', "the fuel recovery variance is primarily due to the inclusion of grand gulf costs in entergy new orleans' fuel recoveries effective july 1 , 2006 .", 'in june 2006 , the city council approved the recovery of grand gulf costs through the fuel adjustment clause , without a corresponding change in base rates ( a significant portion of grand gulf costs was previously recovered through base rates ) .', 'the increase is also due to purchased power costs deferred at entergy louisiana and entergy new orleans as a result of the re-pricing , retroactive to 2003 , of purchased power agreements among entergy system companies as directed by the ferc .', 'the transmission revenue variance is due to higher rates and the addition of new transmission customers in late-2006 .', 'the purchased power capacity variance is due to higher capacity charges and new purchased power contracts that began in mid-2006 .', 'a portion of the variance is due to the amortization of deferred capacity costs and is offset in base revenues due to base rate increases implemented to recover incremental deferred and ongoing purchased power capacity charges at entergy louisiana , as discussed above .', "the net wholesale revenue variance is due primarily to 1 ) more energy available for resale at entergy new orleans in 2006 due to the decrease in retail usage caused by customer losses following hurricane katrina and 2 ) the inclusion in 2006 revenue of sales into the wholesale market of entergy new orleans' share of the output of grand gulf , pursuant to city council approval of measures proposed by entergy new orleans to address the reduction in entergy new orleans' retail customer usage caused by hurricane katrina and to provide revenue support for the costs of entergy new orleans' share of grand gulf .", 'the net wholesale revenue variance is partially offset by the effect of lower wholesale revenues in the third quarter 2006 due to an october 2006 ferc order requiring entergy arkansas to make a refund to a coal plant co-owner resulting from a contract dispute .', 'non-utility nuclear following is an analysis of the change in net revenue comparing 2007 to 2006 .', 'amount ( in millions ) .'] | ['as shown in the table above , net revenue increased for non-utility nuclear by $ 451 million , or 33% ( 33 % ) , for 2007 compared to 2006 primarily due to higher pricing in its contracts to sell power and additional production available resulting from the acquisition of the palisades plant in april 2007 .', 'included in the palisades net revenue is $ 50 million of amortization of the palisades purchased power agreement in 2007 , which is non-cash revenue and is discussed in note 15 to the financial statements .', 'the increase was partially offset by the effect on revenues of four .'] | ----------------------------------------
| amount ( in millions )
2006 net revenue | $ 1388
realized price changes | 264
palisades acquisition | 209
volume variance ( other than palisades ) | -56 ( 56 )
other | 34
2007 net revenue | $ 1839
---------------------------------------- | divide(50, 1839) | 0.02719 |
what was the sum of the shares purchase discount from 2015 to 2017 in millions | Background: ['in 2017 , the company granted 440076 shares of restricted class a common stock and 7568 shares of restricted stock units .', 'restricted common stock and restricted stock units generally have a vesting period of two to four years .', 'the fair value related to these grants was $ 58.7 million , which is recognized as compensation expense on an accelerated basis over the vesting period .', 'dividends are accrued on restricted class a common stock and restricted stock units and are paid once the restricted stock vests .', 'in 2017 , the company also granted 203298 performance shares .', 'the fair value related to these grants was $ 25.3 million , which is recognized as compensation expense on an accelerated and straight-lined basis over the vesting period .', 'the vesting of these shares is contingent on meeting stated performance or market conditions .', 'the following table summarizes restricted stock , restricted stock units , and performance shares activity for 2017 : number of shares weighted average grant date fair value .']
##########
Table:
----------------------------------------
number of shares weightedaveragegrant datefair value
outstanding at december 31 2016 1820578 $ 98
granted 650942 129
vested -510590 ( 510590 ) 87
cancelled -401699 ( 401699 ) 95
outstanding at december 31 2017 1559231 116
----------------------------------------
##########
Follow-up: ['the total fair value of restricted stock , restricted stock units , and performance shares that vested during 2017 , 2016 and 2015 was $ 66.0 million , $ 59.8 million and $ 43.3 million , respectively .', 'under the espp , eligible employees may acquire shares of class a common stock using after-tax payroll deductions made during consecutive offering periods of approximately six months in duration .', 'shares are purchased at the end of each offering period at a price of 90% ( 90 % ) of the closing price of the class a common stock as reported on the nasdaq global select market .', 'compensation expense is recognized on the dates of purchase for the discount from the closing price .', 'in 2017 , 2016 and 2015 , a total of 19936 , 19858 and 19756 shares , respectively , of class a common stock were issued to participating employees .', 'these shares are subject to a six-month holding period .', 'annual expense of $ 0.3 million for the purchase discount was recognized in 2017 , and $ 0.2 million was recognized in both 2016 and 2015 .', 'non-executive directors receive an annual award of class a common stock with a value equal to $ 100000 .', 'non-executive directors may also elect to receive some or all of the cash portion of their annual stipend , up to $ 60000 , in shares of stock based on the closing price at the date of distribution .', 'as a result , 19736 shares , 26439 shares and 25853 shares of class a common stock were issued to non-executive directors during 2017 , 2016 and 2015 , respectively .', 'these shares are not subject to any vesting restrictions .', 'expense of $ 2.5 million , $ 2.4 million and $ 2.5 million related to these stock-based payments was recognized for the years ended december 31 , 2017 , 2016 and 2015 , respectively. .'] | 0.7 | CME/2017/page_99.pdf-5 | ['in 2017 , the company granted 440076 shares of restricted class a common stock and 7568 shares of restricted stock units .', 'restricted common stock and restricted stock units generally have a vesting period of two to four years .', 'the fair value related to these grants was $ 58.7 million , which is recognized as compensation expense on an accelerated basis over the vesting period .', 'dividends are accrued on restricted class a common stock and restricted stock units and are paid once the restricted stock vests .', 'in 2017 , the company also granted 203298 performance shares .', 'the fair value related to these grants was $ 25.3 million , which is recognized as compensation expense on an accelerated and straight-lined basis over the vesting period .', 'the vesting of these shares is contingent on meeting stated performance or market conditions .', 'the following table summarizes restricted stock , restricted stock units , and performance shares activity for 2017 : number of shares weighted average grant date fair value .'] | ['the total fair value of restricted stock , restricted stock units , and performance shares that vested during 2017 , 2016 and 2015 was $ 66.0 million , $ 59.8 million and $ 43.3 million , respectively .', 'under the espp , eligible employees may acquire shares of class a common stock using after-tax payroll deductions made during consecutive offering periods of approximately six months in duration .', 'shares are purchased at the end of each offering period at a price of 90% ( 90 % ) of the closing price of the class a common stock as reported on the nasdaq global select market .', 'compensation expense is recognized on the dates of purchase for the discount from the closing price .', 'in 2017 , 2016 and 2015 , a total of 19936 , 19858 and 19756 shares , respectively , of class a common stock were issued to participating employees .', 'these shares are subject to a six-month holding period .', 'annual expense of $ 0.3 million for the purchase discount was recognized in 2017 , and $ 0.2 million was recognized in both 2016 and 2015 .', 'non-executive directors receive an annual award of class a common stock with a value equal to $ 100000 .', 'non-executive directors may also elect to receive some or all of the cash portion of their annual stipend , up to $ 60000 , in shares of stock based on the closing price at the date of distribution .', 'as a result , 19736 shares , 26439 shares and 25853 shares of class a common stock were issued to non-executive directors during 2017 , 2016 and 2015 , respectively .', 'these shares are not subject to any vesting restrictions .', 'expense of $ 2.5 million , $ 2.4 million and $ 2.5 million related to these stock-based payments was recognized for the years ended december 31 , 2017 , 2016 and 2015 , respectively. .'] | ----------------------------------------
number of shares weightedaveragegrant datefair value
outstanding at december 31 2016 1820578 $ 98
granted 650942 129
vested -510590 ( 510590 ) 87
cancelled -401699 ( 401699 ) 95
outstanding at december 31 2017 1559231 116
---------------------------------------- | add(0.3, 0.2), add(#0, 0.2) | 0.7 |
what is the highest value of reductions for tax positions of prior years? | Pre-text: ['( a ) the net change in the total valuation allowance for the years ended december 31 , 2018 and 2017 was an increase of $ 12 million and an increase of $ 26 million , respectively .', 'deferred income tax assets and liabilities are recorded in the accompanying consolidated balance sheet under the captions deferred charges and other assets and deferred income taxes .', 'there was a decrease in deferred income tax assets principally relating to the utilization of u.s .', 'federal alternative minimum tax credits as permitted under tax reform .', 'deferred tax liabilities increased primarily due to the tax deferral of the book gain recognized on the transfer of the north american consumer packaging business to a subsidiary of graphic packaging holding company .', 'of the $ 1.5 billion of deferred tax liabilities for forestlands , related installment sales , and investment in subsidiary , $ 884 million is attributable to an investment in subsidiary and relates to a 2006 international paper installment sale of forestlands and $ 538 million is attributable to a 2007 temple-inland installment sale of forestlands ( see note 14 ) .', 'a reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended december 31 , 2018 , 2017 and 2016 is as follows: .']
Tabular Data:
****************************************
in millions, 2018, 2017, 2016
balance at january 1, $ -188 ( 188 ), $ -98 ( 98 ), $ -150 ( 150 )
( additions ) reductions based on tax positions related to current year, -7 ( 7 ), -54 ( 54 ), -4 ( 4 )
( additions ) for tax positions of prior years, -37 ( 37 ), -40 ( 40 ), -3 ( 3 )
reductions for tax positions of prior years, 5, 4, 33
settlements, 2, 6, 19
expiration of statutes oflimitations, 2, 1, 5
currency translation adjustment, 3, -7 ( 7 ), 2
balance at december 31, $ -220 ( 220 ), $ -188 ( 188 ), $ -98 ( 98 )
****************************************
Additional Information: ['if the company were to prevail on the unrecognized tax benefits recorded , substantially all of the balances at december 31 , 2018 , 2017 and 2016 would benefit the effective tax rate .', 'the company accrues interest on unrecognized tax benefits as a component of interest expense .', 'penalties , if incurred , are recognized as a component of income tax expense .', 'the company had approximately $ 21 million and $ 17 million accrued for the payment of estimated interest and penalties associated with unrecognized tax benefits at december 31 , 2018 and 2017 , respectively .', 'the major jurisdictions where the company files income tax returns are the united states , brazil , france , poland and russia .', 'generally , tax years 2006 through 2017 remain open and subject to examination by the relevant tax authorities .', 'the company frequently faces challenges regarding the amount of taxes due .', 'these challenges include positions taken by the company related to the timing , nature , and amount of deductions and the allocation of income among various tax jurisdictions .', 'pending audit settlements and the expiration of statute of limitations could reduce the uncertain tax positions by $ 30 million during the next twelve months .', 'the brazilian federal revenue service has challenged the deductibility of goodwill amortization generated in a 2007 acquisition by international paper do brasil ltda. , a wholly-owned subsidiary of the company .', 'the company received assessments for the tax years 2007-2015 totaling approximately $ 150 million in tax , and $ 380 million in interest and penalties as of december 31 , 2018 ( adjusted for variation in currency exchange rates ) .', 'after a previous favorable ruling challenging the basis for these assessments , we received an unfavorable decision in october 2018 from the brazilian administrative council of tax appeals .', 'the company intends to further appeal the matter in the brazilian federal courts in 2019 ; however , this tax litigation matter may take many years to resolve .', 'the company believes that it has appropriately evaluated the transaction underlying these assessments , and has concluded based on brazilian tax law , that its tax position would be sustained .', 'the company intends to vigorously defend its position against the current assessments and any similar assessments that may be issued for tax years subsequent to 2015 .', 'international paper uses the flow-through method to account for investment tax credits earned on eligible open-loop biomass facilities and combined heat and power system expenditures .', 'under this method , the investment tax credits are recognized as a reduction to income tax expense in the year they are earned rather than a reduction in the asset basis .', 'the company recorded a tax benefit of $ 6 million during 2018 and recorded a tax benefit of $ 68 million during 2017 related to investment tax credits earned in tax years 2013-2017. .'] | 33.0 | IP/2018/page_83.pdf-4 | ['( a ) the net change in the total valuation allowance for the years ended december 31 , 2018 and 2017 was an increase of $ 12 million and an increase of $ 26 million , respectively .', 'deferred income tax assets and liabilities are recorded in the accompanying consolidated balance sheet under the captions deferred charges and other assets and deferred income taxes .', 'there was a decrease in deferred income tax assets principally relating to the utilization of u.s .', 'federal alternative minimum tax credits as permitted under tax reform .', 'deferred tax liabilities increased primarily due to the tax deferral of the book gain recognized on the transfer of the north american consumer packaging business to a subsidiary of graphic packaging holding company .', 'of the $ 1.5 billion of deferred tax liabilities for forestlands , related installment sales , and investment in subsidiary , $ 884 million is attributable to an investment in subsidiary and relates to a 2006 international paper installment sale of forestlands and $ 538 million is attributable to a 2007 temple-inland installment sale of forestlands ( see note 14 ) .', 'a reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended december 31 , 2018 , 2017 and 2016 is as follows: .'] | ['if the company were to prevail on the unrecognized tax benefits recorded , substantially all of the balances at december 31 , 2018 , 2017 and 2016 would benefit the effective tax rate .', 'the company accrues interest on unrecognized tax benefits as a component of interest expense .', 'penalties , if incurred , are recognized as a component of income tax expense .', 'the company had approximately $ 21 million and $ 17 million accrued for the payment of estimated interest and penalties associated with unrecognized tax benefits at december 31 , 2018 and 2017 , respectively .', 'the major jurisdictions where the company files income tax returns are the united states , brazil , france , poland and russia .', 'generally , tax years 2006 through 2017 remain open and subject to examination by the relevant tax authorities .', 'the company frequently faces challenges regarding the amount of taxes due .', 'these challenges include positions taken by the company related to the timing , nature , and amount of deductions and the allocation of income among various tax jurisdictions .', 'pending audit settlements and the expiration of statute of limitations could reduce the uncertain tax positions by $ 30 million during the next twelve months .', 'the brazilian federal revenue service has challenged the deductibility of goodwill amortization generated in a 2007 acquisition by international paper do brasil ltda. , a wholly-owned subsidiary of the company .', 'the company received assessments for the tax years 2007-2015 totaling approximately $ 150 million in tax , and $ 380 million in interest and penalties as of december 31 , 2018 ( adjusted for variation in currency exchange rates ) .', 'after a previous favorable ruling challenging the basis for these assessments , we received an unfavorable decision in october 2018 from the brazilian administrative council of tax appeals .', 'the company intends to further appeal the matter in the brazilian federal courts in 2019 ; however , this tax litigation matter may take many years to resolve .', 'the company believes that it has appropriately evaluated the transaction underlying these assessments , and has concluded based on brazilian tax law , that its tax position would be sustained .', 'the company intends to vigorously defend its position against the current assessments and any similar assessments that may be issued for tax years subsequent to 2015 .', 'international paper uses the flow-through method to account for investment tax credits earned on eligible open-loop biomass facilities and combined heat and power system expenditures .', 'under this method , the investment tax credits are recognized as a reduction to income tax expense in the year they are earned rather than a reduction in the asset basis .', 'the company recorded a tax benefit of $ 6 million during 2018 and recorded a tax benefit of $ 68 million during 2017 related to investment tax credits earned in tax years 2013-2017. .'] | ****************************************
in millions, 2018, 2017, 2016
balance at january 1, $ -188 ( 188 ), $ -98 ( 98 ), $ -150 ( 150 )
( additions ) reductions based on tax positions related to current year, -7 ( 7 ), -54 ( 54 ), -4 ( 4 )
( additions ) for tax positions of prior years, -37 ( 37 ), -40 ( 40 ), -3 ( 3 )
reductions for tax positions of prior years, 5, 4, 33
settlements, 2, 6, 19
expiration of statutes oflimitations, 2, 1, 5
currency translation adjustment, 3, -7 ( 7 ), 2
balance at december 31, $ -220 ( 220 ), $ -188 ( 188 ), $ -98 ( 98 )
**************************************** | table_max(reductions for tax positions of prior years, none) | 33.0 |
what is the percentage change in inventories at lifo net during 2012? | Context: ['in june 2011 , the fasb issued asu no .', '2011-05 201ccomprehensive income 2013 presentation of comprehensive income . 201d asu 2011-05 requires comprehensive income , the components of net income , and the components of other comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements .', 'in both choices , an entity is required to present each component of net income along with total net income , each component of other comprehensive income along with a total for other comprehensive income , and a total amount for comprehensive income .', "this update eliminates the option to present the components of other comprehensive income as part of the statement of changes in stockholders' equity .", 'the amendments in this update do not change the items that must be reported in other comprehensive income or when an item of other comprehensive income must be reclassified to net income .', 'the amendments in this update should be applied retrospectively and is effective for interim and annual reporting periods beginning after december 15 , 2011 .', 'the company adopted this guidance in the first quarter of 2012 .', 'the adoption of asu 2011-05 is for presentation purposes only and had no material impact on the company 2019s consolidated financial statements .', '3 .', 'inventories , net : merchandise inventory the company used the lifo method of accounting for approximately 95% ( 95 % ) of inventories at both december 29 , 2012 and december 31 , 2011 .', 'under lifo , the company 2019s cost of sales reflects the costs of the most recently purchased inventories , while the inventory carrying balance represents the costs for inventories purchased in fiscal 2012 and prior years .', 'the company recorded a reduction to cost of sales of $ 24087 and $ 29554 in fiscal 2012 and fiscal 2010 , respectively .', 'as a result of utilizing lifo , the company recorded an increase to cost of sales of $ 24708 for fiscal 2011 , due to an increase in supply chain costs and inflationary pressures affecting certain product categories .', 'the company 2019s overall costs to acquire inventory for the same or similar products have generally decreased historically as the company has been able to leverage its continued growth , execution of merchandise strategies and realization of supply chain efficiencies .', 'product cores the remaining inventories are comprised of product cores , the non-consumable portion of certain parts and batteries , which are valued under the first-in , first-out ( "fifo" ) method .', "product cores are included as part of the company's merchandise costs and are either passed on to the customer or returned to the vendor .", "because product cores are not subject to frequent cost changes like the company's other merchandise inventory , there is no material difference when applying either the lifo or fifo valuation method .", 'inventory overhead costs purchasing and warehousing costs included in inventory at december 29 , 2012 and december 31 , 2011 , were $ 134258 and $ 126840 , respectively .', 'inventory balance and inventory reserves inventory balances at the end of fiscal 2012 and 2011 were as follows : december 29 , december 31 .']
##########
Table:
****************************************
, december 292012, december 312011
inventories at fifo net, $ 2182419, $ 1941055
adjustments to state inventories at lifo, 126190, 102103
inventories at lifo net, $ 2308609, $ 2043158
****************************************
##########
Follow-up: ['inventory quantities are tracked through a perpetual inventory system .', 'the company completes physical inventories and other targeted inventory counts in its store locations to ensure the accuracy of the perpetual inventory quantities of both merchandise and core inventory in these locations .', 'in its distribution centers and pdq aes , the company uses a cycle counting program to ensure the accuracy of the perpetual inventory quantities of both merchandise and product core inventory .', 'reserves advance auto parts , inc .', 'and subsidiaries notes to the consolidated financial statements december 29 , 2012 , december 31 , 2011 and january 1 , 2011 ( in thousands , except per share data ) .'] | 0.12992 | AAP/2012/page_61.pdf-2 | ['in june 2011 , the fasb issued asu no .', '2011-05 201ccomprehensive income 2013 presentation of comprehensive income . 201d asu 2011-05 requires comprehensive income , the components of net income , and the components of other comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements .', 'in both choices , an entity is required to present each component of net income along with total net income , each component of other comprehensive income along with a total for other comprehensive income , and a total amount for comprehensive income .', "this update eliminates the option to present the components of other comprehensive income as part of the statement of changes in stockholders' equity .", 'the amendments in this update do not change the items that must be reported in other comprehensive income or when an item of other comprehensive income must be reclassified to net income .', 'the amendments in this update should be applied retrospectively and is effective for interim and annual reporting periods beginning after december 15 , 2011 .', 'the company adopted this guidance in the first quarter of 2012 .', 'the adoption of asu 2011-05 is for presentation purposes only and had no material impact on the company 2019s consolidated financial statements .', '3 .', 'inventories , net : merchandise inventory the company used the lifo method of accounting for approximately 95% ( 95 % ) of inventories at both december 29 , 2012 and december 31 , 2011 .', 'under lifo , the company 2019s cost of sales reflects the costs of the most recently purchased inventories , while the inventory carrying balance represents the costs for inventories purchased in fiscal 2012 and prior years .', 'the company recorded a reduction to cost of sales of $ 24087 and $ 29554 in fiscal 2012 and fiscal 2010 , respectively .', 'as a result of utilizing lifo , the company recorded an increase to cost of sales of $ 24708 for fiscal 2011 , due to an increase in supply chain costs and inflationary pressures affecting certain product categories .', 'the company 2019s overall costs to acquire inventory for the same or similar products have generally decreased historically as the company has been able to leverage its continued growth , execution of merchandise strategies and realization of supply chain efficiencies .', 'product cores the remaining inventories are comprised of product cores , the non-consumable portion of certain parts and batteries , which are valued under the first-in , first-out ( "fifo" ) method .', "product cores are included as part of the company's merchandise costs and are either passed on to the customer or returned to the vendor .", "because product cores are not subject to frequent cost changes like the company's other merchandise inventory , there is no material difference when applying either the lifo or fifo valuation method .", 'inventory overhead costs purchasing and warehousing costs included in inventory at december 29 , 2012 and december 31 , 2011 , were $ 134258 and $ 126840 , respectively .', 'inventory balance and inventory reserves inventory balances at the end of fiscal 2012 and 2011 were as follows : december 29 , december 31 .'] | ['inventory quantities are tracked through a perpetual inventory system .', 'the company completes physical inventories and other targeted inventory counts in its store locations to ensure the accuracy of the perpetual inventory quantities of both merchandise and core inventory in these locations .', 'in its distribution centers and pdq aes , the company uses a cycle counting program to ensure the accuracy of the perpetual inventory quantities of both merchandise and product core inventory .', 'reserves advance auto parts , inc .', 'and subsidiaries notes to the consolidated financial statements december 29 , 2012 , december 31 , 2011 and january 1 , 2011 ( in thousands , except per share data ) .'] | ****************************************
, december 292012, december 312011
inventories at fifo net, $ 2182419, $ 1941055
adjustments to state inventories at lifo, 126190, 102103
inventories at lifo net, $ 2308609, $ 2043158
**************************************** | subtract(2308609, 2043158), divide(#0, 2043158) | 0.12992 |
in 2016 what was the ratio of the us to the international qualified and non-qualified pension benefits | Background: ['is based on an asset allocation assumption of 25% ( 25 % ) global equities , 18% ( 18 % ) private equities , 41% ( 41 % ) fixed-income securities , and 16% ( 16 % ) absolute return investments independent of traditional performance benchmarks , along with positive returns from active investment management .', 'the actual net rate of return on plan assets in 2015 was 0.7% ( 0.7 % ) .', 'in 2014 the plan earned a rate of return of 13.0% ( 13.0 % ) and in 2013 earned a return of 6.0% ( 6.0 % ) .', 'the average annual actual return on the plan assets over the past 10 and 25 years has been 7.8% ( 7.8 % ) and 10.0% ( 10.0 % ) , respectively .', 'return on assets assumptions for international pension and other post-retirement benefit plans are calculated on a plan-by-plan basis using plan asset allocations and expected long-term rate of return assumptions .', 'during 2015 , the company contributed $ 264 million to its u.s .', 'and international pension plans and $ 3 million to its postretirement plans .', 'during 2014 , the company contributed $ 210 million to its u.s .', 'and international pension plans and $ 5 million to its postretirement plans .', 'in 2016 , the company expects to contribute an amount in the range of $ 100 million to $ 200 million of cash to its u.s .', 'and international retirement plans .', 'the company does not have a required minimum cash pension contribution obligation for its u.s .', 'plans in 2016 .', 'future contributions will depend on market conditions , interest rates and other factors .', 'future pension and postretirement benefit payments the following table provides the estimated pension and postretirement benefit payments that are payable from the plans to participants .', 'qualified and non-qualified pension benefits postretirement .']
--
Table:
----------------------------------------
( millions ) | qualified and non-qualified pension benefits united states | qualified and non-qualified pension benefits international | benefits
2016 benefit payments | $ 987 | $ 205 | $ 141
2017 benefit payments | 997 | 215 | 156
2018 benefit payments | 1008 | 228 | 172
2019 benefit payments | 1017 | 241 | 153
2020 benefit payments | 1029 | 250 | 155
next five years | 5187 | 1480 | 797
----------------------------------------
--
Additional Information: ['plan asset management 3m 2019s investment strategy for its pension and postretirement plans is to manage the funds on a going-concern basis .', 'the primary goal of the trust funds is to meet the obligations as required .', 'the secondary goal is to earn the highest rate of return possible , without jeopardizing its primary goal , and without subjecting the company to an undue amount of contribution risk .', 'fund returns are used to help finance present and future obligations to the extent possible within actuarially determined funding limits and tax-determined asset limits , thus reducing the potential need for additional contributions from 3m .', 'the investment strategy has used long duration cash bonds and derivative instruments to offset a significant portion of the interest rate sensitivity of u.s .', 'pension liabilities .', 'normally , 3m does not buy or sell any of its own securities as a direct investment for its pension and other postretirement benefit funds .', 'however , due to external investment management of the funds , the plans may indirectly buy , sell or hold 3m securities .', 'the aggregate amount of 3m securities are not considered to be material relative to the aggregate fund percentages .', 'the discussion that follows references the fair value measurements of certain assets in terms of levels 1 , 2 and 3 .', 'see note 13 for descriptions of these levels .', 'while the company believes the valuation methods are appropriate and consistent with other market participants , the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. .'] | 4.81463 | MMM/2015/page_93.pdf-1 | ['is based on an asset allocation assumption of 25% ( 25 % ) global equities , 18% ( 18 % ) private equities , 41% ( 41 % ) fixed-income securities , and 16% ( 16 % ) absolute return investments independent of traditional performance benchmarks , along with positive returns from active investment management .', 'the actual net rate of return on plan assets in 2015 was 0.7% ( 0.7 % ) .', 'in 2014 the plan earned a rate of return of 13.0% ( 13.0 % ) and in 2013 earned a return of 6.0% ( 6.0 % ) .', 'the average annual actual return on the plan assets over the past 10 and 25 years has been 7.8% ( 7.8 % ) and 10.0% ( 10.0 % ) , respectively .', 'return on assets assumptions for international pension and other post-retirement benefit plans are calculated on a plan-by-plan basis using plan asset allocations and expected long-term rate of return assumptions .', 'during 2015 , the company contributed $ 264 million to its u.s .', 'and international pension plans and $ 3 million to its postretirement plans .', 'during 2014 , the company contributed $ 210 million to its u.s .', 'and international pension plans and $ 5 million to its postretirement plans .', 'in 2016 , the company expects to contribute an amount in the range of $ 100 million to $ 200 million of cash to its u.s .', 'and international retirement plans .', 'the company does not have a required minimum cash pension contribution obligation for its u.s .', 'plans in 2016 .', 'future contributions will depend on market conditions , interest rates and other factors .', 'future pension and postretirement benefit payments the following table provides the estimated pension and postretirement benefit payments that are payable from the plans to participants .', 'qualified and non-qualified pension benefits postretirement .'] | ['plan asset management 3m 2019s investment strategy for its pension and postretirement plans is to manage the funds on a going-concern basis .', 'the primary goal of the trust funds is to meet the obligations as required .', 'the secondary goal is to earn the highest rate of return possible , without jeopardizing its primary goal , and without subjecting the company to an undue amount of contribution risk .', 'fund returns are used to help finance present and future obligations to the extent possible within actuarially determined funding limits and tax-determined asset limits , thus reducing the potential need for additional contributions from 3m .', 'the investment strategy has used long duration cash bonds and derivative instruments to offset a significant portion of the interest rate sensitivity of u.s .', 'pension liabilities .', 'normally , 3m does not buy or sell any of its own securities as a direct investment for its pension and other postretirement benefit funds .', 'however , due to external investment management of the funds , the plans may indirectly buy , sell or hold 3m securities .', 'the aggregate amount of 3m securities are not considered to be material relative to the aggregate fund percentages .', 'the discussion that follows references the fair value measurements of certain assets in terms of levels 1 , 2 and 3 .', 'see note 13 for descriptions of these levels .', 'while the company believes the valuation methods are appropriate and consistent with other market participants , the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. .'] | ----------------------------------------
( millions ) | qualified and non-qualified pension benefits united states | qualified and non-qualified pension benefits international | benefits
2016 benefit payments | $ 987 | $ 205 | $ 141
2017 benefit payments | 997 | 215 | 156
2018 benefit payments | 1008 | 228 | 172
2019 benefit payments | 1017 | 241 | 153
2020 benefit payments | 1029 | 250 | 155
next five years | 5187 | 1480 | 797
---------------------------------------- | divide(987, 205) | 4.81463 |
what was the percent of the total expected contributions for fiscal 2007 that was long-term debt | Context: ['guarantees to third parties .', 'we have , however , issued guar- antees and comfort letters of $ 171 million for the debt and other obligations of unconsolidated affiliates , primarily for cpw .', 'in addition , off-balance sheet arrangements are gener- ally limited to the future payments under noncancelable operating leases , which totaled $ 408 million at may 28 , at may 28 , 2006 , we had invested in four variable interest entities ( vies ) .', 'we are the primary beneficiary ( pb ) of general mills capital , inc .', '( gm capital ) , a subsidiary that we consolidate as set forth in note eight to the consoli- dated financial statements appearing on pages 43 and 44 in item eight of this report .', 'we also have an interest in a contract manufacturer at our former facility in geneva , illi- nois .', 'even though we are the pb , we have not consolidated this entity because it is not material to our results of oper- ations , financial condition , or liquidity at may 28 , 2006 .', 'this entity had property and equipment of $ 50 million and long-term debt of $ 50 million at may 28 , 2006 .', 'we are not the pb of the remaining two vies .', 'our maximum exposure to loss from these vies is limited to the $ 150 million minority interest in gm capital , the contract manufactur- er 2019s debt and our $ 6 million of equity investments in the two remaining vies .', 'the following table summarizes our future estimated cash payments under existing contractual obligations , including payments due by period .', 'the majority of the purchase obligations represent commitments for raw mate- rial and packaging to be utilized in the normal course of business and for consumer-directed marketing commit- ments that support our brands .', 'the net fair value of our interest rate and equity swaps was $ 159 million at may 28 , 2006 , based on market values as of that date .', 'future changes in market values will impact the amount of cash ultimately paid or received to settle those instruments in the future .', 'other long-term obligations primarily consist of income taxes , accrued compensation and benefits , and miscella- neous liabilities .', 'we are unable to estimate the timing of the payments for these items .', 'we do not have significant statutory or contractual funding requirements for our defined-benefit retirement and other postretirement benefit plans .', 'further information on these plans , including our expected contributions for fiscal 2007 , is set forth in note thirteen to the consolidated financial statements appearing on pages 47 through 50 in item eight of this report .', 'in millions , payments due by fiscal year total 2007 2008-09 2010-11 2012 and thereafter .']
####
Data Table:
in millionspayments dueby fiscal year | total | 2007 | 2008-09 | 2010-11 | 2012 andthereafter
long-term debt | $ 4546 | $ 2131 | $ 971 | $ 55 | $ 1389
accrued interest | 152 | 152 | 2013 | 2013 | 2013
operating leases | 408 | 92 | 142 | 89 | 85
purchaseobligations | 2351 | 2068 | 144 | 75 | 64
total | $ 7457 | $ 4443 | $ 1257 | $ 219 | $ 1538
####
Additional Information: ['significant accounting estimates for a complete description of our significant accounting policies , please see note one to the consolidated financial statements appearing on pages 35 through 37 in item eight of this report .', 'our significant accounting estimates are those that have meaningful impact on the reporting of our financial condition and results of operations .', 'these poli- cies include our accounting for trade and consumer promotion activities ; goodwill and other intangible asset impairments ; income taxes ; and pension and other postretirement benefits .', 'trade and consumer promotion activities we report sales net of certain coupon and trade promotion costs .', 'the consumer coupon costs recorded as a reduction of sales are based on the estimated redemption value of those coupons , as determined by historical patterns of coupon redemption and consideration of current market conditions such as competitive activity in those product categories .', 'the trade promotion costs include payments to customers to perform merchandising activities on our behalf , such as advertising or in-store displays , discounts to our list prices to lower retail shelf prices , and payments to gain distribution of new products .', 'the cost of these activi- ties is recognized as the related revenue is recorded , which generally precedes the actual cash expenditure .', 'the recog- nition of these costs requires estimation of customer participation and performance levels .', 'these estimates are made based on the quantity of customer sales , the timing and forecasted costs of promotional activities , and other factors .', 'differences between estimated expenses and actual costs are normally insignificant and are recognized as a change in management estimate in a subsequent period .', 'our accrued trade and consumer promotion liability was $ 339 million as of may 28 , 2006 , and $ 283 million as of may 29 , 2005 .', 'our unit volume in the last week of each quarter is consis- tently higher than the average for the preceding weeks of the quarter .', 'in comparison to the average daily shipments in the first 12 weeks of a quarter , the final week of each quarter has approximately two to four days 2019 worth of incre- mental shipments ( based on a five-day week ) , reflecting increased promotional activity at the end of the quarter .', 'this increased activity includes promotions to assure that our customers have sufficient inventory on hand to support major marketing events or increased seasonal demand early in the next quarter , as well as promotions intended to help achieve interim unit volume targets .', 'if , due to quarter-end promotions or other reasons , our customers purchase more product in any reporting period than end-consumer demand will require in future periods , our sales level in future reporting periods could be adversely affected. .'] | 0.46876 | GIS/2006/page_45.pdf-2 | ['guarantees to third parties .', 'we have , however , issued guar- antees and comfort letters of $ 171 million for the debt and other obligations of unconsolidated affiliates , primarily for cpw .', 'in addition , off-balance sheet arrangements are gener- ally limited to the future payments under noncancelable operating leases , which totaled $ 408 million at may 28 , at may 28 , 2006 , we had invested in four variable interest entities ( vies ) .', 'we are the primary beneficiary ( pb ) of general mills capital , inc .', '( gm capital ) , a subsidiary that we consolidate as set forth in note eight to the consoli- dated financial statements appearing on pages 43 and 44 in item eight of this report .', 'we also have an interest in a contract manufacturer at our former facility in geneva , illi- nois .', 'even though we are the pb , we have not consolidated this entity because it is not material to our results of oper- ations , financial condition , or liquidity at may 28 , 2006 .', 'this entity had property and equipment of $ 50 million and long-term debt of $ 50 million at may 28 , 2006 .', 'we are not the pb of the remaining two vies .', 'our maximum exposure to loss from these vies is limited to the $ 150 million minority interest in gm capital , the contract manufactur- er 2019s debt and our $ 6 million of equity investments in the two remaining vies .', 'the following table summarizes our future estimated cash payments under existing contractual obligations , including payments due by period .', 'the majority of the purchase obligations represent commitments for raw mate- rial and packaging to be utilized in the normal course of business and for consumer-directed marketing commit- ments that support our brands .', 'the net fair value of our interest rate and equity swaps was $ 159 million at may 28 , 2006 , based on market values as of that date .', 'future changes in market values will impact the amount of cash ultimately paid or received to settle those instruments in the future .', 'other long-term obligations primarily consist of income taxes , accrued compensation and benefits , and miscella- neous liabilities .', 'we are unable to estimate the timing of the payments for these items .', 'we do not have significant statutory or contractual funding requirements for our defined-benefit retirement and other postretirement benefit plans .', 'further information on these plans , including our expected contributions for fiscal 2007 , is set forth in note thirteen to the consolidated financial statements appearing on pages 47 through 50 in item eight of this report .', 'in millions , payments due by fiscal year total 2007 2008-09 2010-11 2012 and thereafter .'] | ['significant accounting estimates for a complete description of our significant accounting policies , please see note one to the consolidated financial statements appearing on pages 35 through 37 in item eight of this report .', 'our significant accounting estimates are those that have meaningful impact on the reporting of our financial condition and results of operations .', 'these poli- cies include our accounting for trade and consumer promotion activities ; goodwill and other intangible asset impairments ; income taxes ; and pension and other postretirement benefits .', 'trade and consumer promotion activities we report sales net of certain coupon and trade promotion costs .', 'the consumer coupon costs recorded as a reduction of sales are based on the estimated redemption value of those coupons , as determined by historical patterns of coupon redemption and consideration of current market conditions such as competitive activity in those product categories .', 'the trade promotion costs include payments to customers to perform merchandising activities on our behalf , such as advertising or in-store displays , discounts to our list prices to lower retail shelf prices , and payments to gain distribution of new products .', 'the cost of these activi- ties is recognized as the related revenue is recorded , which generally precedes the actual cash expenditure .', 'the recog- nition of these costs requires estimation of customer participation and performance levels .', 'these estimates are made based on the quantity of customer sales , the timing and forecasted costs of promotional activities , and other factors .', 'differences between estimated expenses and actual costs are normally insignificant and are recognized as a change in management estimate in a subsequent period .', 'our accrued trade and consumer promotion liability was $ 339 million as of may 28 , 2006 , and $ 283 million as of may 29 , 2005 .', 'our unit volume in the last week of each quarter is consis- tently higher than the average for the preceding weeks of the quarter .', 'in comparison to the average daily shipments in the first 12 weeks of a quarter , the final week of each quarter has approximately two to four days 2019 worth of incre- mental shipments ( based on a five-day week ) , reflecting increased promotional activity at the end of the quarter .', 'this increased activity includes promotions to assure that our customers have sufficient inventory on hand to support major marketing events or increased seasonal demand early in the next quarter , as well as promotions intended to help achieve interim unit volume targets .', 'if , due to quarter-end promotions or other reasons , our customers purchase more product in any reporting period than end-consumer demand will require in future periods , our sales level in future reporting periods could be adversely affected. .'] | in millionspayments dueby fiscal year | total | 2007 | 2008-09 | 2010-11 | 2012 andthereafter
long-term debt | $ 4546 | $ 2131 | $ 971 | $ 55 | $ 1389
accrued interest | 152 | 152 | 2013 | 2013 | 2013
operating leases | 408 | 92 | 142 | 89 | 85
purchaseobligations | 2351 | 2068 | 144 | 75 | 64
total | $ 7457 | $ 4443 | $ 1257 | $ 219 | $ 1538 | divide(2131, 4546) | 0.46876 |
in 2012 what was the ratio of the mortgage loans ( average ) to mortgage loans ( period-end ) \\n | Pre-text: ['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
##########
Additional Information: ['( a ) reflects repositioning of the investment securities portfolio. .'] | 1.45531 | JPM/2012/page_93.pdf-3 | ['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 | divide(10241, 7037) | 1.45531 |
what is the percentage change in impairment charges and net losses from 2004 to 2005? | Context: ['american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) 12 .', 'impairments , net loss on sale of long-lived assets , restructuring and merger related expense the significant components reflected in impairments , net loss on sale of long-lived assets , restructuring and merger related expense in the accompanying consolidated statements of operations include the following : impairments and net loss on sale of long-lived assets 2014during the years ended december 31 , 2005 , 2004 and 2003 , the company recorded impairments and net loss on sale of long-lived assets ( primarily related to its rental and management segment ) of $ 19.1 million , $ 22.3 million and $ 28.3 million , respectively .', '2022 non-core asset impairment charges 2014during the years ended december 31 , 2005 and 2004 respectively , the company sold a limited number of non-core towers and other non-core assets and recorded impairment charges to write-down these and other non-core assets to net realizable value .', 'during the year ended december 31 , 2003 , the company sold approximately 300 non-core towers and certain other non-core assets and recorded impairment charges to write-down these and other non-core assets to net realizable value .', 'as a result , the company recorded impairment charges and net losses of approximately $ 16.8 million , $ 17.7 million and $ 19.1 million for the years ended december 31 , 2005 , 2004 and 2003 , respectively .', '2022 construction-in-progress impairment charges 2014for the year ended december 31 , 2005 , 2004 and 2003 , the company wrote-off approximately $ 2.3 million , $ 4.6 million and $ 9.2 million , respectively , of construction-in-progress costs , primarily associated with sites that it no longer planned to build .', 'restructuring expense 2014during the year ended december 31 , 2005 , the company made cash payments against its previous accrued restructuring liability in the amount of $ 0.8 million .', 'during the year ended december 31 , 2004 , the company incurred employee separation costs of $ 0.8 million and decreased its lease terminations and other facility closing costs liability by $ 0.1 million .', 'during the year ended december 31 , 2003 , the company incurred employee separation costs primarily associated with a reorganization of certain functions within its rental and management segment and increased its accrued restructuring liability by $ 2.3 million .', 'such charges are reflected in impairments , net loss on sale of long-lived assets , restructuring and merger related expense in the accompanying consolidated statement of operations for the years ended december 31 , 2004 and 2003 .', 'the following table displays activity with respect to the accrued restructuring liability for the years ended december 31 , 2003 , 2004 and 2005 ( in thousands ) .', 'the accrued restructuring liability is reflected in accounts payable and accrued expenses in the accompanying consolidated balance sheets as of december 31 , 2005 and liability january 1 , restructuring expense payments liability as december 31 , restructuring expense payments liability december 31 , restructuring expense payments liability december 31 .']
Table:
========================================
liability as of january 1 2003 2003 restructuring expense 2003 cash payments liability as of december 31 2003 2004 restructuring expense 2004 cash payments liability as of december 31 2004 2005 restructuring expense 2005 cash payments liability as of december 31 2005
employee separations $ 1639 $ 1919 $ -1319 ( 1319 ) $ 2239 $ 823 $ -2397 ( 2397 ) $ 665 $ 84 $ -448 ( 448 ) $ 301
lease terminations and other facility closing costs 1993 347 -890 ( 890 ) 1450 -131 ( 131 ) -888 ( 888 ) 431 12 -325 ( 325 ) 118
total $ 3632 $ 2266 $ -2209 ( 2209 ) $ 3689 $ 692 $ -3285 ( 3285 ) $ 1096 $ 96 $ -773 ( 773 ) $ 419
========================================
Follow-up: ['there were no material changes in estimates related to this accrued restructuring liability during the year ended december 31 , 2005 .', 'the company expects to pay the balance of these employee separation liabilities prior to the end of 2006 .', 'additionally , the company continues to negotiate certain lease terminations associated with this restructuring liability .', 'merger related expense 2014during the year ended december 31 , 2005 , the company assumed certain obligations , as a result of the merger with spectrasite , inc. , primarily related to employee separation costs of former .'] | -0.05085 | AMT/2005/page_102.pdf-2 | ['american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) 12 .', 'impairments , net loss on sale of long-lived assets , restructuring and merger related expense the significant components reflected in impairments , net loss on sale of long-lived assets , restructuring and merger related expense in the accompanying consolidated statements of operations include the following : impairments and net loss on sale of long-lived assets 2014during the years ended december 31 , 2005 , 2004 and 2003 , the company recorded impairments and net loss on sale of long-lived assets ( primarily related to its rental and management segment ) of $ 19.1 million , $ 22.3 million and $ 28.3 million , respectively .', '2022 non-core asset impairment charges 2014during the years ended december 31 , 2005 and 2004 respectively , the company sold a limited number of non-core towers and other non-core assets and recorded impairment charges to write-down these and other non-core assets to net realizable value .', 'during the year ended december 31 , 2003 , the company sold approximately 300 non-core towers and certain other non-core assets and recorded impairment charges to write-down these and other non-core assets to net realizable value .', 'as a result , the company recorded impairment charges and net losses of approximately $ 16.8 million , $ 17.7 million and $ 19.1 million for the years ended december 31 , 2005 , 2004 and 2003 , respectively .', '2022 construction-in-progress impairment charges 2014for the year ended december 31 , 2005 , 2004 and 2003 , the company wrote-off approximately $ 2.3 million , $ 4.6 million and $ 9.2 million , respectively , of construction-in-progress costs , primarily associated with sites that it no longer planned to build .', 'restructuring expense 2014during the year ended december 31 , 2005 , the company made cash payments against its previous accrued restructuring liability in the amount of $ 0.8 million .', 'during the year ended december 31 , 2004 , the company incurred employee separation costs of $ 0.8 million and decreased its lease terminations and other facility closing costs liability by $ 0.1 million .', 'during the year ended december 31 , 2003 , the company incurred employee separation costs primarily associated with a reorganization of certain functions within its rental and management segment and increased its accrued restructuring liability by $ 2.3 million .', 'such charges are reflected in impairments , net loss on sale of long-lived assets , restructuring and merger related expense in the accompanying consolidated statement of operations for the years ended december 31 , 2004 and 2003 .', 'the following table displays activity with respect to the accrued restructuring liability for the years ended december 31 , 2003 , 2004 and 2005 ( in thousands ) .', 'the accrued restructuring liability is reflected in accounts payable and accrued expenses in the accompanying consolidated balance sheets as of december 31 , 2005 and liability january 1 , restructuring expense payments liability as december 31 , restructuring expense payments liability december 31 , restructuring expense payments liability december 31 .'] | ['there were no material changes in estimates related to this accrued restructuring liability during the year ended december 31 , 2005 .', 'the company expects to pay the balance of these employee separation liabilities prior to the end of 2006 .', 'additionally , the company continues to negotiate certain lease terminations associated with this restructuring liability .', 'merger related expense 2014during the year ended december 31 , 2005 , the company assumed certain obligations , as a result of the merger with spectrasite , inc. , primarily related to employee separation costs of former .'] | ========================================
liability as of january 1 2003 2003 restructuring expense 2003 cash payments liability as of december 31 2003 2004 restructuring expense 2004 cash payments liability as of december 31 2004 2005 restructuring expense 2005 cash payments liability as of december 31 2005
employee separations $ 1639 $ 1919 $ -1319 ( 1319 ) $ 2239 $ 823 $ -2397 ( 2397 ) $ 665 $ 84 $ -448 ( 448 ) $ 301
lease terminations and other facility closing costs 1993 347 -890 ( 890 ) 1450 -131 ( 131 ) -888 ( 888 ) 431 12 -325 ( 325 ) 118
total $ 3632 $ 2266 $ -2209 ( 2209 ) $ 3689 $ 692 $ -3285 ( 3285 ) $ 1096 $ 96 $ -773 ( 773 ) $ 419
======================================== | subtract(16.8, 17.7), divide(#0, 17.7) | -0.05085 |
what was the percent of the change in the weighted average risk-free interest rate | Context: ['american tower corporation and subsidiaries notes to consolidated financial statements assessments in each of the tax jurisdictions resulting from these examinations .', 'the company believes that adequate provisions have been made for income taxes for all periods through december 31 , 2010 .', '12 .', 'stock-based compensation the company recognized stock-based compensation of $ 52.6 million , $ 60.7 million and $ 54.8 million for the years ended december 31 , 2010 , 2009 and 2008 , respectively .', 'stock-based compensation for the year ended december 31 , 2009 included $ 6.9 million related to the modification of the vesting and exercise terms for certain employee 2019s equity awards .', 'the company did not capitalize any stock-based compensation during the years ended december 31 , 2010 and 2009 .', 'summary of stock-based compensation plans 2014the company maintains equity incentive plans that provide for the grant of stock-based awards to its directors , officers and employees .', 'under the 2007 equity incentive plan ( 201c2007 plan 201d ) , which provides for the grant of non-qualified and incentive stock options , as well as restricted stock units , restricted stock and other stock-based awards , exercise prices in the case of non-qualified and incentive stock options are not less than the fair market value of the underlying common stock on the date of grant .', 'equity awards typically vest ratably over various periods , generally four years , and generally expire ten years from the date of grant .', 'stock options 2014as of december 31 , 2010 , the company had the ability to grant stock-based awards with respect to an aggregate of 22.0 million shares of common stock under the 2007 plan .', 'the fair value of each option grant is estimated on the date of grant using the black-scholes option pricing model based on the assumptions noted in the table below .', 'the risk-free treasury rate is based on the u.s .', 'treasury yield in effect at the accounting measurement date .', 'the expected life ( estimated period of time outstanding ) was estimated using the vesting term and historical exercise behavior of company employees .', 'the expected volatility was based on historical volatility for a period equal to the expected life of the stock options .', 'key assumptions used to apply this pricing model are as follows: .']
##########
Data Table:
----------------------------------------
| 2010 | 2009 | 2008
----------|----------|----------|----------
range of risk-free interest rate | 1.41% ( 1.41 % ) 2013 2.39% ( 2.39 % ) | 1.41% ( 1.41 % ) 2013 2.04% ( 2.04 % ) | 1.44% ( 1.44 % ) 2013 3.05% ( 3.05 % )
weighted average risk-free interest rate | 2.35% ( 2.35 % ) | 1.71% ( 1.71 % ) | 1.89% ( 1.89 % )
expected life of option grants | 4.60 years | 4.00 years | 4.00 years
range of expected volatility of underlying stock price | 37.11% ( 37.11 % ) 2013 37.48% ( 37.48 % ) | 36.00% ( 36.00 % ) 2013 36.63% ( 36.63 % ) | 28.51% ( 28.51 % ) 2013 35.30% ( 35.30 % )
weighted average expected volatility of underlying stock price | 37.14% ( 37.14 % ) | 36.23% ( 36.23 % ) | 29.10% ( 29.10 % )
expected annual dividends | n/a | n/a | n/a
----------------------------------------
##########
Additional Information: ['the weighted average grant date fair value per share during the years ended december 31 , 2010 , 2009 and 2008 was $ 15.03 , $ 8.90 and $ 9.55 , respectively .', 'the intrinsic value of stock options exercised during the years ended december 31 , 2010 , 2009 and 2008 was $ 62.7 million , $ 40.1 million and $ 99.1 million , respectively .', 'as of december 31 , 2010 , total unrecognized compensation expense related to unvested stock options was approximately $ 27.7 million and is expected to be recognized over a weighted average period of approximately two years .', 'the amount of cash received from the exercise of stock options was approximately $ 129.1 million during the year ended december 31 , 2010 .', 'during the year ended december 31 , 2010 , the company realized approximately $ 0.3 million of state tax benefits from the exercise of stock options. .'] | 0.37427 | AMT/2010/page_113.pdf-3 | ['american tower corporation and subsidiaries notes to consolidated financial statements assessments in each of the tax jurisdictions resulting from these examinations .', 'the company believes that adequate provisions have been made for income taxes for all periods through december 31 , 2010 .', '12 .', 'stock-based compensation the company recognized stock-based compensation of $ 52.6 million , $ 60.7 million and $ 54.8 million for the years ended december 31 , 2010 , 2009 and 2008 , respectively .', 'stock-based compensation for the year ended december 31 , 2009 included $ 6.9 million related to the modification of the vesting and exercise terms for certain employee 2019s equity awards .', 'the company did not capitalize any stock-based compensation during the years ended december 31 , 2010 and 2009 .', 'summary of stock-based compensation plans 2014the company maintains equity incentive plans that provide for the grant of stock-based awards to its directors , officers and employees .', 'under the 2007 equity incentive plan ( 201c2007 plan 201d ) , which provides for the grant of non-qualified and incentive stock options , as well as restricted stock units , restricted stock and other stock-based awards , exercise prices in the case of non-qualified and incentive stock options are not less than the fair market value of the underlying common stock on the date of grant .', 'equity awards typically vest ratably over various periods , generally four years , and generally expire ten years from the date of grant .', 'stock options 2014as of december 31 , 2010 , the company had the ability to grant stock-based awards with respect to an aggregate of 22.0 million shares of common stock under the 2007 plan .', 'the fair value of each option grant is estimated on the date of grant using the black-scholes option pricing model based on the assumptions noted in the table below .', 'the risk-free treasury rate is based on the u.s .', 'treasury yield in effect at the accounting measurement date .', 'the expected life ( estimated period of time outstanding ) was estimated using the vesting term and historical exercise behavior of company employees .', 'the expected volatility was based on historical volatility for a period equal to the expected life of the stock options .', 'key assumptions used to apply this pricing model are as follows: .'] | ['the weighted average grant date fair value per share during the years ended december 31 , 2010 , 2009 and 2008 was $ 15.03 , $ 8.90 and $ 9.55 , respectively .', 'the intrinsic value of stock options exercised during the years ended december 31 , 2010 , 2009 and 2008 was $ 62.7 million , $ 40.1 million and $ 99.1 million , respectively .', 'as of december 31 , 2010 , total unrecognized compensation expense related to unvested stock options was approximately $ 27.7 million and is expected to be recognized over a weighted average period of approximately two years .', 'the amount of cash received from the exercise of stock options was approximately $ 129.1 million during the year ended december 31 , 2010 .', 'during the year ended december 31 , 2010 , the company realized approximately $ 0.3 million of state tax benefits from the exercise of stock options. .'] | ----------------------------------------
| 2010 | 2009 | 2008
----------|----------|----------|----------
range of risk-free interest rate | 1.41% ( 1.41 % ) 2013 2.39% ( 2.39 % ) | 1.41% ( 1.41 % ) 2013 2.04% ( 2.04 % ) | 1.44% ( 1.44 % ) 2013 3.05% ( 3.05 % )
weighted average risk-free interest rate | 2.35% ( 2.35 % ) | 1.71% ( 1.71 % ) | 1.89% ( 1.89 % )
expected life of option grants | 4.60 years | 4.00 years | 4.00 years
range of expected volatility of underlying stock price | 37.11% ( 37.11 % ) 2013 37.48% ( 37.48 % ) | 36.00% ( 36.00 % ) 2013 36.63% ( 36.63 % ) | 28.51% ( 28.51 % ) 2013 35.30% ( 35.30 % )
weighted average expected volatility of underlying stock price | 37.14% ( 37.14 % ) | 36.23% ( 36.23 % ) | 29.10% ( 29.10 % )
expected annual dividends | n/a | n/a | n/a
---------------------------------------- | subtract(2.35, 1.71), divide(#0, 1.71) | 0.37427 |
what is the currency exchange rate cad to usd used to convert the value of the outstanding credit facility as of december 31 , 3006? | Context: ['kimco realty corporation and subsidiaries job title kimco realty ar revision 6 serial date / time tuesday , april 03 , 2007 /10:32 pm job number 142704 type current page no .', '65 operator pm2 <12345678> at december 31 , 2006 and 2005 , the company 2019s net invest- ment in the leveraged lease consisted of the following ( in mil- lions ) : .']
--------
Data Table:
• , 2006, 2005
• remaining net rentals, $ 62.3, $ 68.9
• estimated unguaranteed residual value, 40.5, 43.8
• non-recourse mortgage debt, -48.4 ( 48.4 ), -52.8 ( 52.8 )
• unearned and deferred income, -50.7 ( 50.7 ), -55.9 ( 55.9 )
• net investment in leveraged lease, $ 3.7, $ 4.0
--------
Follow-up: ['9 .', 'mortgages and other financing receivables : during january 2006 , the company provided approximately $ 16.0 million as its share of a $ 50.0 million junior participation in a $ 700.0 million first mortgage loan , in connection with a private investment firm 2019s acquisition of a retailer .', 'this loan participation bore interest at libor plus 7.75% ( 7.75 % ) per annum and had a two-year term with a one-year extension option and was collateralized by certain real estate interests of the retailer .', 'during june 2006 , the borrower elected to pre-pay the outstanding loan balance of approximately $ 16.0 million in full satisfaction of this loan .', 'additionally , during january 2006 , the company provided approximately $ 5.2 million as its share of an $ 11.5 million term loan to a real estate developer for the acquisition of a 59 acre land parcel located in san antonio , tx .', 'this loan is interest only at a fixed rate of 11.0% ( 11.0 % ) for a term of two years payable monthly and collateralized by a first mortgage on the subject property .', 'as of december 31 , 2006 , the outstanding balance on this loan was approximately $ 5.2 million .', 'during february 2006 , the company committed to provide a one year $ 17.2 million credit facility at a fixed rate of 8.0% ( 8.0 % ) for a term of nine months and 9.0% ( 9.0 % ) for the remaining term to a real estate investor for the recapitalization of a discount and entertain- ment mall that it currently owns .', 'during 2006 , this facility was fully paid and was terminated .', 'during april 2006 , the company provided two separate mortgages aggregating $ 14.5 million on a property owned by a real estate investor .', 'proceeds were used to payoff the existing first mortgage , buyout the existing partner and for redevelopment of the property .', 'the mortgages bear interest at 8.0% ( 8.0 % ) per annum and mature in 2008 and 2013 .', 'these mortgages are collateralized by the subject property .', 'as of december 31 , 2006 , the aggregate outstanding balance on these mortgages was approximately $ 15.0 million , including $ 0.5 million of accrued interest .', 'during may 2006 , the company provided a cad $ 23.5 million collateralized credit facility at a fixed rate of 8.5% ( 8.5 % ) per annum for a term of two years to a real estate company for the execution of its property acquisitions program .', 'the credit facility is guaranteed by the real estate company .', 'the company was issued 9811 units , valued at approximately usd $ 0.1 million , and warrants to purchase up to 0.1 million shares of the real estate company as a loan origination fee .', 'during august 2006 , the company increased the credit facility to cad $ 45.0 million and received an additional 9811 units , valued at approximately usd $ 0.1 million , and warrants to purchase up to 0.1 million shares of the real estate company .', 'as of december 31 , 2006 , the outstand- ing balance on this credit facility was approximately cad $ 3.6 million ( approximately usd $ 3.1 million ) .', 'during september 2005 , a newly formed joint venture , in which the company had an 80% ( 80 % ) interest , acquired a 90% ( 90 % ) interest in a $ 48.4 million mortgage receivable for a purchase price of approximately $ 34.2 million .', 'this loan bore interest at a rate of three-month libor plus 2.75% ( 2.75 % ) per annum and was scheduled to mature on january 12 , 2010 .', 'a 626-room hotel located in lake buena vista , fl collateralized the loan .', 'the company had determined that this joint venture entity was a vie and had further determined that the company was the primary benefici- ary of this vie and had therefore consolidated it for financial reporting purposes .', 'during march 2006 , the joint venture acquired the remaining 10% ( 10 % ) of this mortgage receivable for a purchase price of approximately $ 3.8 million .', 'during june 2006 , the joint venture accepted a pre-payment of approximately $ 45.2 million from the borrower as full satisfaction of this loan .', 'during august 2006 , the company provided $ 8.8 million as its share of a $ 13.2 million 12-month term loan to a retailer for general corporate purposes .', 'this loan bears interest at a fixed rate of 12.50% ( 12.50 % ) with interest payable monthly and a balloon payment for the principal balance at maturity .', 'the loan is collateralized by the underlying real estate of the retailer .', 'additionally , the company funded $ 13.3 million as its share of a $ 20.0 million revolving debtor-in-possession facility to this retailer .', 'the facility bears interest at libor plus 3.00% ( 3.00 % ) and has an unused line fee of 0.375% ( 0.375 % ) .', 'this credit facility is collateralized by a first priority lien on all the retailer 2019s assets .', 'as of december 31 , 2006 , the compa- ny 2019s share of the outstanding balance on this loan and credit facility was approximately $ 7.6 million and $ 4.9 million , respec- tively .', 'during september 2006 , the company provided a mxp 57.3 million ( approximately usd $ 5.3 million ) loan to an owner of an operating property in mexico .', 'the loan , which is collateralized by the property , bears interest at 12.0% ( 12.0 % ) per annum and matures in 2016 .', 'the company is entitled to a participation feature of 25% ( 25 % ) of annual cash flows after debt service and 20% ( 20 % ) of the gain on sale of the property .', 'as of december 31 , 2006 , the outstand- ing balance on this loan was approximately mxp 57.8 million ( approximately usd $ 5.3 million ) .', 'during november 2006 , the company committed to provide a mxp 124.8 million ( approximately usd $ 11.5 million ) loan to an owner of a land parcel in acapulco , mexico .', 'the loan , which is collateralized with an operating property owned by the bor- rower , bears interest at 10% ( 10 % ) per annum and matures in 2016 .', 'the company is entitled to a participation feature of 20% ( 20 % ) of excess cash flows and gains on sale of the property .', 'as of decem- ber 31 , 2006 , the outstanding balance on this loan was mxp 12.8 million ( approximately usd $ 1.2 million ) . .'] | 1.16129 | KIM/2006/page_67.pdf-1 | ['kimco realty corporation and subsidiaries job title kimco realty ar revision 6 serial date / time tuesday , april 03 , 2007 /10:32 pm job number 142704 type current page no .', '65 operator pm2 <12345678> at december 31 , 2006 and 2005 , the company 2019s net invest- ment in the leveraged lease consisted of the following ( in mil- lions ) : .'] | ['9 .', 'mortgages and other financing receivables : during january 2006 , the company provided approximately $ 16.0 million as its share of a $ 50.0 million junior participation in a $ 700.0 million first mortgage loan , in connection with a private investment firm 2019s acquisition of a retailer .', 'this loan participation bore interest at libor plus 7.75% ( 7.75 % ) per annum and had a two-year term with a one-year extension option and was collateralized by certain real estate interests of the retailer .', 'during june 2006 , the borrower elected to pre-pay the outstanding loan balance of approximately $ 16.0 million in full satisfaction of this loan .', 'additionally , during january 2006 , the company provided approximately $ 5.2 million as its share of an $ 11.5 million term loan to a real estate developer for the acquisition of a 59 acre land parcel located in san antonio , tx .', 'this loan is interest only at a fixed rate of 11.0% ( 11.0 % ) for a term of two years payable monthly and collateralized by a first mortgage on the subject property .', 'as of december 31 , 2006 , the outstanding balance on this loan was approximately $ 5.2 million .', 'during february 2006 , the company committed to provide a one year $ 17.2 million credit facility at a fixed rate of 8.0% ( 8.0 % ) for a term of nine months and 9.0% ( 9.0 % ) for the remaining term to a real estate investor for the recapitalization of a discount and entertain- ment mall that it currently owns .', 'during 2006 , this facility was fully paid and was terminated .', 'during april 2006 , the company provided two separate mortgages aggregating $ 14.5 million on a property owned by a real estate investor .', 'proceeds were used to payoff the existing first mortgage , buyout the existing partner and for redevelopment of the property .', 'the mortgages bear interest at 8.0% ( 8.0 % ) per annum and mature in 2008 and 2013 .', 'these mortgages are collateralized by the subject property .', 'as of december 31 , 2006 , the aggregate outstanding balance on these mortgages was approximately $ 15.0 million , including $ 0.5 million of accrued interest .', 'during may 2006 , the company provided a cad $ 23.5 million collateralized credit facility at a fixed rate of 8.5% ( 8.5 % ) per annum for a term of two years to a real estate company for the execution of its property acquisitions program .', 'the credit facility is guaranteed by the real estate company .', 'the company was issued 9811 units , valued at approximately usd $ 0.1 million , and warrants to purchase up to 0.1 million shares of the real estate company as a loan origination fee .', 'during august 2006 , the company increased the credit facility to cad $ 45.0 million and received an additional 9811 units , valued at approximately usd $ 0.1 million , and warrants to purchase up to 0.1 million shares of the real estate company .', 'as of december 31 , 2006 , the outstand- ing balance on this credit facility was approximately cad $ 3.6 million ( approximately usd $ 3.1 million ) .', 'during september 2005 , a newly formed joint venture , in which the company had an 80% ( 80 % ) interest , acquired a 90% ( 90 % ) interest in a $ 48.4 million mortgage receivable for a purchase price of approximately $ 34.2 million .', 'this loan bore interest at a rate of three-month libor plus 2.75% ( 2.75 % ) per annum and was scheduled to mature on january 12 , 2010 .', 'a 626-room hotel located in lake buena vista , fl collateralized the loan .', 'the company had determined that this joint venture entity was a vie and had further determined that the company was the primary benefici- ary of this vie and had therefore consolidated it for financial reporting purposes .', 'during march 2006 , the joint venture acquired the remaining 10% ( 10 % ) of this mortgage receivable for a purchase price of approximately $ 3.8 million .', 'during june 2006 , the joint venture accepted a pre-payment of approximately $ 45.2 million from the borrower as full satisfaction of this loan .', 'during august 2006 , the company provided $ 8.8 million as its share of a $ 13.2 million 12-month term loan to a retailer for general corporate purposes .', 'this loan bears interest at a fixed rate of 12.50% ( 12.50 % ) with interest payable monthly and a balloon payment for the principal balance at maturity .', 'the loan is collateralized by the underlying real estate of the retailer .', 'additionally , the company funded $ 13.3 million as its share of a $ 20.0 million revolving debtor-in-possession facility to this retailer .', 'the facility bears interest at libor plus 3.00% ( 3.00 % ) and has an unused line fee of 0.375% ( 0.375 % ) .', 'this credit facility is collateralized by a first priority lien on all the retailer 2019s assets .', 'as of december 31 , 2006 , the compa- ny 2019s share of the outstanding balance on this loan and credit facility was approximately $ 7.6 million and $ 4.9 million , respec- tively .', 'during september 2006 , the company provided a mxp 57.3 million ( approximately usd $ 5.3 million ) loan to an owner of an operating property in mexico .', 'the loan , which is collateralized by the property , bears interest at 12.0% ( 12.0 % ) per annum and matures in 2016 .', 'the company is entitled to a participation feature of 25% ( 25 % ) of annual cash flows after debt service and 20% ( 20 % ) of the gain on sale of the property .', 'as of december 31 , 2006 , the outstand- ing balance on this loan was approximately mxp 57.8 million ( approximately usd $ 5.3 million ) .', 'during november 2006 , the company committed to provide a mxp 124.8 million ( approximately usd $ 11.5 million ) loan to an owner of a land parcel in acapulco , mexico .', 'the loan , which is collateralized with an operating property owned by the bor- rower , bears interest at 10% ( 10 % ) per annum and matures in 2016 .', 'the company is entitled to a participation feature of 20% ( 20 % ) of excess cash flows and gains on sale of the property .', 'as of decem- ber 31 , 2006 , the outstanding balance on this loan was mxp 12.8 million ( approximately usd $ 1.2 million ) . .'] | • , 2006, 2005
• remaining net rentals, $ 62.3, $ 68.9
• estimated unguaranteed residual value, 40.5, 43.8
• non-recourse mortgage debt, -48.4 ( 48.4 ), -52.8 ( 52.8 )
• unearned and deferred income, -50.7 ( 50.7 ), -55.9 ( 55.9 )
• net investment in leveraged lease, $ 3.7, $ 4.0 | divide(3.6, 3.1) | 1.16129 |
what is the change in the balance of liability for restructuring 2003 program from 2006 to 2008 , ( in millions ) ? | Background: ['notes to consolidated financial statements 2014 ( continued ) ( amounts in millions , except per share amounts ) a summary of the remaining liability for the 2007 , 2003 and 2001 restructuring programs is as follows : program program program total .']
--------
Data Table:
========================================
Row 1: , 2007 program, 2003 program, 2001 program, total
Row 2: liability at december 31 2006, $ 2014, $ 12.6, $ 19.2, $ 31.8
Row 3: net charges ( reversals ) and adjustments, 19.1, -0.5 ( 0.5 ), -5.2 ( 5.2 ), 13.4
Row 4: payments and other1, -7.2 ( 7.2 ), -3.1 ( 3.1 ), -5.3 ( 5.3 ), -15.6 ( 15.6 )
Row 5: liability at december 31 2007, $ 11.9, $ 9.0, $ 8.7, $ 29.6
Row 6: net charges and adjustments, 4.3, 0.8, 0.7, 5.8
Row 7: payments and other1, -15.0 ( 15.0 ), -4.1 ( 4.1 ), -3.5 ( 3.5 ), -22.6 ( 22.6 )
Row 8: liability at december 31 2008, $ 1.2, $ 5.7, $ 5.9, $ 12.8
========================================
--------
Follow-up: ['1 includes amounts representing adjustments to the liability for changes in foreign currency exchange rates .', 'other reorganization-related charges other reorganization-related charges relate to our realignment of our media businesses into a newly created management entity called mediabrands and the 2006 merger of draft worldwide and foote , cone and belding worldwide to create draftfcb .', 'charges related to severance and terminations costs and lease termination and other exit costs .', 'we expect charges associated with mediabrands to be completed during the first half of 2009 .', 'charges related to the creation of draftfcb in 2006 are complete .', 'the charges were separated from the rest of our operating expenses within the consolidated statements of operations because they did not result from charges that occurred in the normal course of business. .'] | -6.9 | IPG/2008/page_62.pdf-3 | ['notes to consolidated financial statements 2014 ( continued ) ( amounts in millions , except per share amounts ) a summary of the remaining liability for the 2007 , 2003 and 2001 restructuring programs is as follows : program program program total .'] | ['1 includes amounts representing adjustments to the liability for changes in foreign currency exchange rates .', 'other reorganization-related charges other reorganization-related charges relate to our realignment of our media businesses into a newly created management entity called mediabrands and the 2006 merger of draft worldwide and foote , cone and belding worldwide to create draftfcb .', 'charges related to severance and terminations costs and lease termination and other exit costs .', 'we expect charges associated with mediabrands to be completed during the first half of 2009 .', 'charges related to the creation of draftfcb in 2006 are complete .', 'the charges were separated from the rest of our operating expenses within the consolidated statements of operations because they did not result from charges that occurred in the normal course of business. .'] | ========================================
Row 1: , 2007 program, 2003 program, 2001 program, total
Row 2: liability at december 31 2006, $ 2014, $ 12.6, $ 19.2, $ 31.8
Row 3: net charges ( reversals ) and adjustments, 19.1, -0.5 ( 0.5 ), -5.2 ( 5.2 ), 13.4
Row 4: payments and other1, -7.2 ( 7.2 ), -3.1 ( 3.1 ), -5.3 ( 5.3 ), -15.6 ( 15.6 )
Row 5: liability at december 31 2007, $ 11.9, $ 9.0, $ 8.7, $ 29.6
Row 6: net charges and adjustments, 4.3, 0.8, 0.7, 5.8
Row 7: payments and other1, -15.0 ( 15.0 ), -4.1 ( 4.1 ), -3.5 ( 3.5 ), -22.6 ( 22.6 )
Row 8: liability at december 31 2008, $ 1.2, $ 5.7, $ 5.9, $ 12.8
======================================== | subtract(5.7, 12.6) | -6.9 |
what is the total amount , in millions of dollars , outstanding in 2009? | Pre-text: ['product provided to the endorsers will depend on many factors including general playing conditions , the number of sporting events in which they participate , and our own 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 .', '( 2 ) we generally order product at least four to five months in advance of sale based primarily on advanced futures orders received from customers .', 'the amounts listed for product purchase obligations represent agreements ( including open purchase orders ) to purchase products in the ordinary course of business , that are enforceable and legally binding and that specify all significant terms .', 'in some cases , prices are subject to change throughout the production process .', 'the reported amounts exclude product purchase liabilities included in accounts payable on the consolidated balance sheet as of may 31 , 2009 .', '( 3 ) other amounts primarily include service and marketing commitments made in the ordinary course of business .', 'the amounts represent the minimum payments required by legally binding contracts and agreements that specify all significant terms , including open purchase orders for non-product purchases .', 'the reported amounts exclude those liabilities included in accounts payable or accrued liabilities on the consolidated balance sheet as of may 31 , 2009 .', 'the total liability for uncertain tax positions was $ 273.9 million , excluding related interest and penalties , at may 31 , 2009 .', 'we are not able to reasonably estimate when or if cash payments of the long-term liability for uncertain tax positions will occur .', 'we also have the following outstanding short-term debt obligations as of may 31 , 2009 .', 'please refer to the accompanying notes to the consolidated financial statements ( note 7 2014 short-term borrowings and credit lines ) for further description and interest rates related to the short-term debt obligations listed below .', 'outstanding as of may 31 , 2009 ( in millions ) notes payable , due at mutually agreed-upon dates within one year of issuance or on demand .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '$ 342.9 payable to sojitz america for the purchase of inventories , generally due 60 days after shipment of goods from a foreign port .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '$ 78.5 as of may 31 , 2009 , letters of credit of $ 154.8 million were outstanding , generally for the purchase of inventory .', 'capital resources in december 2008 , we filed a shelf registration statement with the securities and exchange commission under which $ 760 million in debt securities may be issued .', 'as of may 31 , 2009 , no debt securities had been issued under this shelf registration .', 'we may issue debt securities under the shelf registration in fiscal 2010 depending on general corporate needs .', 'as of may 31 , 2009 , we had no amounts outstanding under our multi-year , $ 1 billion revolving credit facility in place with a group of banks .', 'the facility matures in december 2012 .', 'based on our current long-term senior unsecured debt ratings of a+ and a1 from standard and poor 2019s corporation and moody 2019s investor services , respectively , the interest rate charged on any outstanding borrowings would be the prevailing london interbank offer rate ( 201clibor 201d ) plus 0.15% ( 0.15 % ) .', 'the facility fee is 0.05% ( 0.05 % ) of the total commitment .', 'if our long-term debt rating were to decline , the facility fee and interest rate under our committed credit facility would increase .', 'conversely , if our long-term debt rating were to improve , the facility fee and interest rate would decrease .', 'changes in our long-term debt rating would not trigger acceleration of maturity of any then outstanding borrowings or any future borrowings under the committed credit facility .', 'under this committed credit facility , we have agreed to various covenants .', 'these covenants include limits on our disposal of fixed assets and the amount of debt secured by liens we may incur as well as a minimum capitalization ratio .', 'in the .']
--
Data Table:
========================================
| outstanding as of may 31 2009 ( in millions )
----------|----------
notes payable due at mutually agreed-upon dates within one year of issuance or on demand | $ 342.9
payable to sojitz america for the purchase of inventories generally due 60 days after shipment of goods from a foreign port | $ 78.5
========================================
--
Post-table: ['product provided to the endorsers will depend on many factors including general playing conditions , the number of sporting events in which they participate , and our own 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 .', '( 2 ) we generally order product at least four to five months in advance of sale based primarily on advanced futures orders received from customers .', 'the amounts listed for product purchase obligations represent agreements ( including open purchase orders ) to purchase products in the ordinary course of business , that are enforceable and legally binding and that specify all significant terms .', 'in some cases , prices are subject to change throughout the production process .', 'the reported amounts exclude product purchase liabilities included in accounts payable on the consolidated balance sheet as of may 31 , 2009 .', '( 3 ) other amounts primarily include service and marketing commitments made in the ordinary course of business .', 'the amounts represent the minimum payments required by legally binding contracts and agreements that specify all significant terms , including open purchase orders for non-product purchases .', 'the reported amounts exclude those liabilities included in accounts payable or accrued liabilities on the consolidated balance sheet as of may 31 , 2009 .', 'the total liability for uncertain tax positions was $ 273.9 million , excluding related interest and penalties , at may 31 , 2009 .', 'we are not able to reasonably estimate when or if cash payments of the long-term liability for uncertain tax positions will occur .', 'we also have the following outstanding short-term debt obligations as of may 31 , 2009 .', 'please refer to the accompanying notes to the consolidated financial statements ( note 7 2014 short-term borrowings and credit lines ) for further description and interest rates related to the short-term debt obligations listed below .', 'outstanding as of may 31 , 2009 ( in millions ) notes payable , due at mutually agreed-upon dates within one year of issuance or on demand .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '$ 342.9 payable to sojitz america for the purchase of inventories , generally due 60 days after shipment of goods from a foreign port .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '$ 78.5 as of may 31 , 2009 , letters of credit of $ 154.8 million were outstanding , generally for the purchase of inventory .', 'capital resources in december 2008 , we filed a shelf registration statement with the securities and exchange commission under which $ 760 million in debt securities may be issued .', 'as of may 31 , 2009 , no debt securities had been issued under this shelf registration .', 'we may issue debt securities under the shelf registration in fiscal 2010 depending on general corporate needs .', 'as of may 31 , 2009 , we had no amounts outstanding under our multi-year , $ 1 billion revolving credit facility in place with a group of banks .', 'the facility matures in december 2012 .', 'based on our current long-term senior unsecured debt ratings of a+ and a1 from standard and poor 2019s corporation and moody 2019s investor services , respectively , the interest rate charged on any outstanding borrowings would be the prevailing london interbank offer rate ( 201clibor 201d ) plus 0.15% ( 0.15 % ) .', 'the facility fee is 0.05% ( 0.05 % ) of the total commitment .', 'if our long-term debt rating were to decline , the facility fee and interest rate under our committed credit facility would increase .', 'conversely , if our long-term debt rating were to improve , the facility fee and interest rate would decrease .', 'changes in our long-term debt rating would not trigger acceleration of maturity of any then outstanding borrowings or any future borrowings under the committed credit facility .', 'under this committed credit facility , we have agreed to various covenants .', 'these covenants include limits on our disposal of fixed assets and the amount of debt secured by liens we may incur as well as a minimum capitalization ratio .', 'in the .'] | 421.4 | NKE/2009/page_43.pdf-1 | ['product provided to the endorsers will depend on many factors including general playing conditions , the number of sporting events in which they participate , and our own 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 .', '( 2 ) we generally order product at least four to five months in advance of sale based primarily on advanced futures orders received from customers .', 'the amounts listed for product purchase obligations represent agreements ( including open purchase orders ) to purchase products in the ordinary course of business , that are enforceable and legally binding and that specify all significant terms .', 'in some cases , prices are subject to change throughout the production process .', 'the reported amounts exclude product purchase liabilities included in accounts payable on the consolidated balance sheet as of may 31 , 2009 .', '( 3 ) other amounts primarily include service and marketing commitments made in the ordinary course of business .', 'the amounts represent the minimum payments required by legally binding contracts and agreements that specify all significant terms , including open purchase orders for non-product purchases .', 'the reported amounts exclude those liabilities included in accounts payable or accrued liabilities on the consolidated balance sheet as of may 31 , 2009 .', 'the total liability for uncertain tax positions was $ 273.9 million , excluding related interest and penalties , at may 31 , 2009 .', 'we are not able to reasonably estimate when or if cash payments of the long-term liability for uncertain tax positions will occur .', 'we also have the following outstanding short-term debt obligations as of may 31 , 2009 .', 'please refer to the accompanying notes to the consolidated financial statements ( note 7 2014 short-term borrowings and credit lines ) for further description and interest rates related to the short-term debt obligations listed below .', 'outstanding as of may 31 , 2009 ( in millions ) notes payable , due at mutually agreed-upon dates within one year of issuance or on demand .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '$ 342.9 payable to sojitz america for the purchase of inventories , generally due 60 days after shipment of goods from a foreign port .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '$ 78.5 as of may 31 , 2009 , letters of credit of $ 154.8 million were outstanding , generally for the purchase of inventory .', 'capital resources in december 2008 , we filed a shelf registration statement with the securities and exchange commission under which $ 760 million in debt securities may be issued .', 'as of may 31 , 2009 , no debt securities had been issued under this shelf registration .', 'we may issue debt securities under the shelf registration in fiscal 2010 depending on general corporate needs .', 'as of may 31 , 2009 , we had no amounts outstanding under our multi-year , $ 1 billion revolving credit facility in place with a group of banks .', 'the facility matures in december 2012 .', 'based on our current long-term senior unsecured debt ratings of a+ and a1 from standard and poor 2019s corporation and moody 2019s investor services , respectively , the interest rate charged on any outstanding borrowings would be the prevailing london interbank offer rate ( 201clibor 201d ) plus 0.15% ( 0.15 % ) .', 'the facility fee is 0.05% ( 0.05 % ) of the total commitment .', 'if our long-term debt rating were to decline , the facility fee and interest rate under our committed credit facility would increase .', 'conversely , if our long-term debt rating were to improve , the facility fee and interest rate would decrease .', 'changes in our long-term debt rating would not trigger acceleration of maturity of any then outstanding borrowings or any future borrowings under the committed credit facility .', 'under this committed credit facility , we have agreed to various covenants .', 'these covenants include limits on our disposal of fixed assets and the amount of debt secured by liens we may incur as well as a minimum capitalization ratio .', 'in the .'] | ['product provided to the endorsers will depend on many factors including general playing conditions , the number of sporting events in which they participate , and our own 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 .', '( 2 ) we generally order product at least four to five months in advance of sale based primarily on advanced futures orders received from customers .', 'the amounts listed for product purchase obligations represent agreements ( including open purchase orders ) to purchase products in the ordinary course of business , that are enforceable and legally binding and that specify all significant terms .', 'in some cases , prices are subject to change throughout the production process .', 'the reported amounts exclude product purchase liabilities included in accounts payable on the consolidated balance sheet as of may 31 , 2009 .', '( 3 ) other amounts primarily include service and marketing commitments made in the ordinary course of business .', 'the amounts represent the minimum payments required by legally binding contracts and agreements that specify all significant terms , including open purchase orders for non-product purchases .', 'the reported amounts exclude those liabilities included in accounts payable or accrued liabilities on the consolidated balance sheet as of may 31 , 2009 .', 'the total liability for uncertain tax positions was $ 273.9 million , excluding related interest and penalties , at may 31 , 2009 .', 'we are not able to reasonably estimate when or if cash payments of the long-term liability for uncertain tax positions will occur .', 'we also have the following outstanding short-term debt obligations as of may 31 , 2009 .', 'please refer to the accompanying notes to the consolidated financial statements ( note 7 2014 short-term borrowings and credit lines ) for further description and interest rates related to the short-term debt obligations listed below .', 'outstanding as of may 31 , 2009 ( in millions ) notes payable , due at mutually agreed-upon dates within one year of issuance or on demand .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '$ 342.9 payable to sojitz america for the purchase of inventories , generally due 60 days after shipment of goods from a foreign port .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '$ 78.5 as of may 31 , 2009 , letters of credit of $ 154.8 million were outstanding , generally for the purchase of inventory .', 'capital resources in december 2008 , we filed a shelf registration statement with the securities and exchange commission under which $ 760 million in debt securities may be issued .', 'as of may 31 , 2009 , no debt securities had been issued under this shelf registration .', 'we may issue debt securities under the shelf registration in fiscal 2010 depending on general corporate needs .', 'as of may 31 , 2009 , we had no amounts outstanding under our multi-year , $ 1 billion revolving credit facility in place with a group of banks .', 'the facility matures in december 2012 .', 'based on our current long-term senior unsecured debt ratings of a+ and a1 from standard and poor 2019s corporation and moody 2019s investor services , respectively , the interest rate charged on any outstanding borrowings would be the prevailing london interbank offer rate ( 201clibor 201d ) plus 0.15% ( 0.15 % ) .', 'the facility fee is 0.05% ( 0.05 % ) of the total commitment .', 'if our long-term debt rating were to decline , the facility fee and interest rate under our committed credit facility would increase .', 'conversely , if our long-term debt rating were to improve , the facility fee and interest rate would decrease .', 'changes in our long-term debt rating would not trigger acceleration of maturity of any then outstanding borrowings or any future borrowings under the committed credit facility .', 'under this committed credit facility , we have agreed to various covenants .', 'these covenants include limits on our disposal of fixed assets and the amount of debt secured by liens we may incur as well as a minimum capitalization ratio .', 'in the .'] | ========================================
| outstanding as of may 31 2009 ( in millions )
----------|----------
notes payable due at mutually agreed-upon dates within one year of issuance or on demand | $ 342.9
payable to sojitz america for the purchase of inventories generally due 60 days after shipment of goods from a foreign port | $ 78.5
======================================== | add(342.9, 78.5) | 421.4 |
credit derivatives for 2017 were what percent of the foreign exchange derivatives? | Pre-text: ['management 2019s discussion and analysis 114 jpmorgan chase & co./2017 annual report derivative contracts in the normal course of business , the firm uses derivative instruments predominantly for market-making activities .', 'derivatives enable counterparties to manage exposures to fluctuations in interest rates , currencies and other markets .', 'the firm also uses derivative instruments to manage its own credit and other market risk exposure .', 'the nature of the counterparty and the settlement mechanism of the derivative affect the credit risk to which the firm is exposed .', 'for otc derivatives the firm is exposed to the credit risk of the derivative counterparty .', 'for exchange- traded derivatives ( 201cetd 201d ) , such as futures and options , and 201ccleared 201d over-the-counter ( 201cotc-cleared 201d ) derivatives , the firm is generally exposed to the credit risk of the relevant ccp .', 'where possible , the firm seeks to mitigate its credit risk exposures arising from derivative transactions through the use of legally enforceable master netting arrangements and collateral agreements .', 'for further discussion of derivative contracts , counterparties and settlement types , see note 5 .', 'the following table summarizes the net derivative receivables for the periods presented .', 'derivative receivables .']
Table:
Row 1: december 31 ( in millions ), 2017, 2016
Row 2: interest rate, $ 24673, $ 28302
Row 3: credit derivatives, 869, 1294
Row 4: foreign exchange, 16151, 23271
Row 5: equity, 7882, 4939
Row 6: commodity, 6948, 6272
Row 7: total net of cash collateral, 56523, 64078
Row 8: liquid securities and other cash collateral held against derivative receivables ( a ), -16108 ( 16108 ), -22705 ( 22705 )
Row 9: total net of all collateral, $ 40415, $ 41373
Post-table: ['( a ) includes collateral related to derivative instruments where an appropriate legal opinion has not been either sought or obtained .', 'derivative receivables reported on the consolidated balance sheets were $ 56.5 billion and $ 64.1 billion at december 31 , 2017 and 2016 , respectively .', 'derivative receivables decreased predominantly as a result of client- driven market-making activities in cib markets , which reduced foreign exchange and interest rate derivative receivables , and increased equity derivative receivables , driven by market movements .', 'derivative receivables amounts represent the fair value of the derivative contracts after giving effect to legally enforceable master netting agreements and cash collateral held by the firm .', 'however , in management 2019s view , the appropriate measure of current credit risk should also take into consideration additional liquid securities ( primarily u.s .', 'government and agency securities and other group of seven nations ( 201cg7 201d ) government bonds ) and other cash collateral held by the firm aggregating $ 16.1 billion and $ 22.7 billion at december 31 , 2017 and 2016 , respectively , that may be used as security when the fair value of the client 2019s exposure is in the firm 2019s favor .', 'in addition to the collateral described in the preceding paragraph , the firm also holds additional collateral ( primarily cash , g7 government securities , other liquid government-agency and guaranteed securities , and corporate debt and equity securities ) delivered by clients at the initiation of transactions , as well as collateral related to contracts that have a non-daily call frequency and collateral that the firm has agreed to return but has not yet settled as of the reporting date .', 'although this collateral does not reduce the balances and is not included in the table above , it is available as security against potential exposure that could arise should the fair value of the client 2019s derivative transactions move in the firm 2019s favor .', 'the derivative receivables fair value , net of all collateral , also does not include other credit enhancements , such as letters of credit .', 'for additional information on the firm 2019s use of collateral agreements , see note 5 .', 'while useful as a current view of credit exposure , the net fair value of the derivative receivables does not capture the potential future variability of that credit exposure .', 'to capture the potential future variability of credit exposure , the firm calculates , on a client-by-client basis , three measures of potential derivatives-related credit loss : peak , derivative risk equivalent ( 201cdre 201d ) , and average exposure ( 201cavg 201d ) .', 'these measures all incorporate netting and collateral benefits , where applicable .', 'peak represents a conservative measure of potential exposure to a counterparty calculated in a manner that is broadly equivalent to a 97.5% ( 97.5 % ) confidence level over the life of the transaction .', 'peak is the primary measure used by the firm for setting of credit limits for derivative transactions , senior management reporting and derivatives exposure management .', 'dre exposure is a measure that expresses the risk of derivative exposure on a basis intended to be equivalent to the risk of loan exposures .', 'dre is a less extreme measure of potential credit loss than peak and is used for aggregating derivative credit risk exposures with loans and other credit risk .', 'finally , avg is a measure of the expected fair value of the firm 2019s derivative receivables at future time periods , including the benefit of collateral .', 'avg exposure over the total life of the derivative contract is used as the primary metric for pricing purposes and is used to calculate credit risk capital and the cva , as further described below .', 'the three year avg exposure was $ 29.0 billion and $ 31.1 billion at december 31 , 2017 and 2016 , respectively , compared with derivative receivables , net of all collateral , of $ 40.4 billion and $ 41.4 billion at december 31 , 2017 and 2016 , respectively .', 'the fair value of the firm 2019s derivative receivables incorporates cva to reflect the credit quality of counterparties .', 'cva is based on the firm 2019s avg to a counterparty and the counterparty 2019s credit spread in the credit derivatives market .', 'the firm believes that active risk management is essential to controlling the dynamic credit risk in the derivatives portfolio .', 'in addition , the firm 2019s risk management process takes into consideration the potential .'] | 0.0538 | JPM/2017/page_144.pdf-3 | ['management 2019s discussion and analysis 114 jpmorgan chase & co./2017 annual report derivative contracts in the normal course of business , the firm uses derivative instruments predominantly for market-making activities .', 'derivatives enable counterparties to manage exposures to fluctuations in interest rates , currencies and other markets .', 'the firm also uses derivative instruments to manage its own credit and other market risk exposure .', 'the nature of the counterparty and the settlement mechanism of the derivative affect the credit risk to which the firm is exposed .', 'for otc derivatives the firm is exposed to the credit risk of the derivative counterparty .', 'for exchange- traded derivatives ( 201cetd 201d ) , such as futures and options , and 201ccleared 201d over-the-counter ( 201cotc-cleared 201d ) derivatives , the firm is generally exposed to the credit risk of the relevant ccp .', 'where possible , the firm seeks to mitigate its credit risk exposures arising from derivative transactions through the use of legally enforceable master netting arrangements and collateral agreements .', 'for further discussion of derivative contracts , counterparties and settlement types , see note 5 .', 'the following table summarizes the net derivative receivables for the periods presented .', 'derivative receivables .'] | ['( a ) includes collateral related to derivative instruments where an appropriate legal opinion has not been either sought or obtained .', 'derivative receivables reported on the consolidated balance sheets were $ 56.5 billion and $ 64.1 billion at december 31 , 2017 and 2016 , respectively .', 'derivative receivables decreased predominantly as a result of client- driven market-making activities in cib markets , which reduced foreign exchange and interest rate derivative receivables , and increased equity derivative receivables , driven by market movements .', 'derivative receivables amounts represent the fair value of the derivative contracts after giving effect to legally enforceable master netting agreements and cash collateral held by the firm .', 'however , in management 2019s view , the appropriate measure of current credit risk should also take into consideration additional liquid securities ( primarily u.s .', 'government and agency securities and other group of seven nations ( 201cg7 201d ) government bonds ) and other cash collateral held by the firm aggregating $ 16.1 billion and $ 22.7 billion at december 31 , 2017 and 2016 , respectively , that may be used as security when the fair value of the client 2019s exposure is in the firm 2019s favor .', 'in addition to the collateral described in the preceding paragraph , the firm also holds additional collateral ( primarily cash , g7 government securities , other liquid government-agency and guaranteed securities , and corporate debt and equity securities ) delivered by clients at the initiation of transactions , as well as collateral related to contracts that have a non-daily call frequency and collateral that the firm has agreed to return but has not yet settled as of the reporting date .', 'although this collateral does not reduce the balances and is not included in the table above , it is available as security against potential exposure that could arise should the fair value of the client 2019s derivative transactions move in the firm 2019s favor .', 'the derivative receivables fair value , net of all collateral , also does not include other credit enhancements , such as letters of credit .', 'for additional information on the firm 2019s use of collateral agreements , see note 5 .', 'while useful as a current view of credit exposure , the net fair value of the derivative receivables does not capture the potential future variability of that credit exposure .', 'to capture the potential future variability of credit exposure , the firm calculates , on a client-by-client basis , three measures of potential derivatives-related credit loss : peak , derivative risk equivalent ( 201cdre 201d ) , and average exposure ( 201cavg 201d ) .', 'these measures all incorporate netting and collateral benefits , where applicable .', 'peak represents a conservative measure of potential exposure to a counterparty calculated in a manner that is broadly equivalent to a 97.5% ( 97.5 % ) confidence level over the life of the transaction .', 'peak is the primary measure used by the firm for setting of credit limits for derivative transactions , senior management reporting and derivatives exposure management .', 'dre exposure is a measure that expresses the risk of derivative exposure on a basis intended to be equivalent to the risk of loan exposures .', 'dre is a less extreme measure of potential credit loss than peak and is used for aggregating derivative credit risk exposures with loans and other credit risk .', 'finally , avg is a measure of the expected fair value of the firm 2019s derivative receivables at future time periods , including the benefit of collateral .', 'avg exposure over the total life of the derivative contract is used as the primary metric for pricing purposes and is used to calculate credit risk capital and the cva , as further described below .', 'the three year avg exposure was $ 29.0 billion and $ 31.1 billion at december 31 , 2017 and 2016 , respectively , compared with derivative receivables , net of all collateral , of $ 40.4 billion and $ 41.4 billion at december 31 , 2017 and 2016 , respectively .', 'the fair value of the firm 2019s derivative receivables incorporates cva to reflect the credit quality of counterparties .', 'cva is based on the firm 2019s avg to a counterparty and the counterparty 2019s credit spread in the credit derivatives market .', 'the firm believes that active risk management is essential to controlling the dynamic credit risk in the derivatives portfolio .', 'in addition , the firm 2019s risk management process takes into consideration the potential .'] | Row 1: december 31 ( in millions ), 2017, 2016
Row 2: interest rate, $ 24673, $ 28302
Row 3: credit derivatives, 869, 1294
Row 4: foreign exchange, 16151, 23271
Row 5: equity, 7882, 4939
Row 6: commodity, 6948, 6272
Row 7: total net of cash collateral, 56523, 64078
Row 8: liquid securities and other cash collateral held against derivative receivables ( a ), -16108 ( 16108 ), -22705 ( 22705 )
Row 9: total net of all collateral, $ 40415, $ 41373 | divide(869, 16151) | 0.0538 |
what is the percentage change in net periodic pension expense between 2005 and 2006? | Pre-text: ['institutions .', 'international paper continually monitors its positions with and the credit quality of these financial institutions and does not expect non- performance by the counterparties .', 'note 14 capital stock the authorized capital stock at both december 31 , 2006 and 2005 , consisted of 990850000 shares of common stock , $ 1 par value ; 400000 shares of cumulative $ 4 preferred stock , without par value ( stated value $ 100 per share ) ; and 8750000 shares of serial preferred stock , $ 1 par value .', 'the serial preferred stock is issuable in one or more series by the board of directors without further shareholder action .', 'in july 2006 , in connection with the planned use of projected proceeds from the company 2019s trans- formation plan , international paper 2019s board of direc- tors authorized a share repurchase program to acquire up to $ 3.0 billion of the company 2019s stock .', 'in a modified 201cdutch auction 201d tender offer completed in september 2006 , international paper purchased 38465260 shares of its common stock at a price of $ 36.00 per share , plus costs to acquire the shares , for a total cost of approximately $ 1.4 billion .', 'in addition , in december 2006 , the company purchased an addi- tional 1220558 shares of its common stock in the open market at an average price of $ 33.84 per share , plus costs to acquire the shares , for a total cost of approximately $ 41 million .', 'following the completion of these share repurchases , international paper had approximately 454 million shares of common stock issued and outstanding .', 'note 15 retirement plans u.s .', 'defined benefit plans international paper maintains pension plans that provide retirement benefits to substantially all domestic employees hired prior to july 1 , 2004 .', 'these employees generally are eligible to participate in the plans upon completion of one year of service and attainment of age 21 .', 'employees hired after june 30 , 2004 , who are not eligible for these pension plans receive an additional company contribution to their savings plan ( see 201cother plans 201d on page 83 ) .', 'the plans provide defined benefits based on years of credited service and either final average earnings ( salaried employees ) , hourly job rates or specified benefit rates ( hourly and union employees ) .', 'for its qualified defined benefit pension plan , interna- tional paper makes contributions that are sufficient to fully fund its actuarially determined costs , gen- erally equal to the minimum amounts required by the employee retirement income security act ( erisa ) .', 'in addition , international paper made volun- tary contributions of $ 1.0 billion to the qualified defined benefit plan in 2006 , and does not expect to make any contributions in 2007 .', 'the company also has two unfunded nonqualified defined benefit pension plans : a pension restoration plan available to employees hired prior to july 1 , 2004 that provides retirement benefits based on eligible compensation in excess of limits set by the internal revenue service , and a supplemental retirement plan for senior managers ( serp ) , which is an alternative retirement plan for senior vice presi- dents and above who are designated by the chief executive officer as participants .', 'these nonqualified plans are only funded to the extent of benefits paid , which are expected to be $ 41 million in 2007 .', 'net periodic pension expense service cost is the actuarial present value of benefits attributed by the plans 2019 benefit formula to services rendered by employees during the year .', 'interest cost represents the increase in the projected benefit obli- gation , which is a discounted amount , due to the passage of time .', 'the expected return on plan assets reflects the computed amount of current year earn- ings from the investment of plan assets using an estimated long-term rate of return .', 'net periodic pension expense for qualified and nonqualified u.s .', 'defined benefit plans comprised the following : in millions 2006 2005 2004 .']
Data Table:
****************************************
Row 1: in millions, 2006, 2005, 2004
Row 2: service cost, $ 141, $ 129, $ 115
Row 3: interest cost, 506, 474, 467
Row 4: expected return on plan assets, -540 ( 540 ), -556 ( 556 ), -592 ( 592 )
Row 5: actuarial loss, 243, 167, 94
Row 6: amortization of prior service cost, 27, 29, 27
Row 7: net periodic pension expense ( a ), $ 377, $ 243, $ 111
****************************************
Post-table: ['( a ) excludes $ 9.1 million , $ 6.5 million and $ 3.4 million in 2006 , 2005 and 2004 , respectively , in curtailment losses , and $ 8.7 million , $ 3.6 million and $ 1.4 million in 2006 , 2005 and 2004 , respectively , of termination benefits , in connection with cost reduction programs and facility rationalizations that were recorded in restructuring and other charges in the con- solidated statement of operations .', 'also excludes $ 77.2 million and $ 14.3 million in 2006 and 2005 , respectively , in curtailment losses , and $ 18.6 million and $ 7.6 million of termination bene- fits in 2006 and 2005 , respectively , related to certain divest- itures recorded in net losses on sales and impairments of businesses held for sale in the consolidated statement of oper- ations. .'] | 0.55144 | IP/2006/page_84.pdf-2 | ['institutions .', 'international paper continually monitors its positions with and the credit quality of these financial institutions and does not expect non- performance by the counterparties .', 'note 14 capital stock the authorized capital stock at both december 31 , 2006 and 2005 , consisted of 990850000 shares of common stock , $ 1 par value ; 400000 shares of cumulative $ 4 preferred stock , without par value ( stated value $ 100 per share ) ; and 8750000 shares of serial preferred stock , $ 1 par value .', 'the serial preferred stock is issuable in one or more series by the board of directors without further shareholder action .', 'in july 2006 , in connection with the planned use of projected proceeds from the company 2019s trans- formation plan , international paper 2019s board of direc- tors authorized a share repurchase program to acquire up to $ 3.0 billion of the company 2019s stock .', 'in a modified 201cdutch auction 201d tender offer completed in september 2006 , international paper purchased 38465260 shares of its common stock at a price of $ 36.00 per share , plus costs to acquire the shares , for a total cost of approximately $ 1.4 billion .', 'in addition , in december 2006 , the company purchased an addi- tional 1220558 shares of its common stock in the open market at an average price of $ 33.84 per share , plus costs to acquire the shares , for a total cost of approximately $ 41 million .', 'following the completion of these share repurchases , international paper had approximately 454 million shares of common stock issued and outstanding .', 'note 15 retirement plans u.s .', 'defined benefit plans international paper maintains pension plans that provide retirement benefits to substantially all domestic employees hired prior to july 1 , 2004 .', 'these employees generally are eligible to participate in the plans upon completion of one year of service and attainment of age 21 .', 'employees hired after june 30 , 2004 , who are not eligible for these pension plans receive an additional company contribution to their savings plan ( see 201cother plans 201d on page 83 ) .', 'the plans provide defined benefits based on years of credited service and either final average earnings ( salaried employees ) , hourly job rates or specified benefit rates ( hourly and union employees ) .', 'for its qualified defined benefit pension plan , interna- tional paper makes contributions that are sufficient to fully fund its actuarially determined costs , gen- erally equal to the minimum amounts required by the employee retirement income security act ( erisa ) .', 'in addition , international paper made volun- tary contributions of $ 1.0 billion to the qualified defined benefit plan in 2006 , and does not expect to make any contributions in 2007 .', 'the company also has two unfunded nonqualified defined benefit pension plans : a pension restoration plan available to employees hired prior to july 1 , 2004 that provides retirement benefits based on eligible compensation in excess of limits set by the internal revenue service , and a supplemental retirement plan for senior managers ( serp ) , which is an alternative retirement plan for senior vice presi- dents and above who are designated by the chief executive officer as participants .', 'these nonqualified plans are only funded to the extent of benefits paid , which are expected to be $ 41 million in 2007 .', 'net periodic pension expense service cost is the actuarial present value of benefits attributed by the plans 2019 benefit formula to services rendered by employees during the year .', 'interest cost represents the increase in the projected benefit obli- gation , which is a discounted amount , due to the passage of time .', 'the expected return on plan assets reflects the computed amount of current year earn- ings from the investment of plan assets using an estimated long-term rate of return .', 'net periodic pension expense for qualified and nonqualified u.s .', 'defined benefit plans comprised the following : in millions 2006 2005 2004 .'] | ['( a ) excludes $ 9.1 million , $ 6.5 million and $ 3.4 million in 2006 , 2005 and 2004 , respectively , in curtailment losses , and $ 8.7 million , $ 3.6 million and $ 1.4 million in 2006 , 2005 and 2004 , respectively , of termination benefits , in connection with cost reduction programs and facility rationalizations that were recorded in restructuring and other charges in the con- solidated statement of operations .', 'also excludes $ 77.2 million and $ 14.3 million in 2006 and 2005 , respectively , in curtailment losses , and $ 18.6 million and $ 7.6 million of termination bene- fits in 2006 and 2005 , respectively , related to certain divest- itures recorded in net losses on sales and impairments of businesses held for sale in the consolidated statement of oper- ations. .'] | ****************************************
Row 1: in millions, 2006, 2005, 2004
Row 2: service cost, $ 141, $ 129, $ 115
Row 3: interest cost, 506, 474, 467
Row 4: expected return on plan assets, -540 ( 540 ), -556 ( 556 ), -592 ( 592 )
Row 5: actuarial loss, 243, 167, 94
Row 6: amortization of prior service cost, 27, 29, 27
Row 7: net periodic pension expense ( a ), $ 377, $ 243, $ 111
**************************************** | subtract(377, 243), divide(#0, 243) | 0.55144 |
what is the growth rate in the weighted-average grant date fair value of stock options from 2009 to 2010? | Pre-text: ['tax benefits recognized for stock-based compensation during the years ended december 31 , 2011 , 2010 and 2009 , were $ 16 million , $ 6 million and $ 5 million , respectively .', 'the amount of northrop grumman shares issued before the spin-off to satisfy stock-based compensation awards are recorded by northrop grumman and , accordingly , are not reflected in hii 2019s consolidated financial statements .', 'the company realized tax benefits during the year ended december 31 , 2011 , of $ 2 million from the exercise of stock options and $ 10 million from the issuance of stock in settlement of rpsrs and rsrs .', 'unrecognized compensation expense at december 31 , 2011 there was $ 1 million of unrecognized compensation expense related to unvested stock option awards , which will be recognized over a weighted average period of 1.1 years .', 'in addition , at december 31 , 2011 , there was $ 19 million of unrecognized compensation expense associated with the 2011 rsrs , which will be recognized over a period of 2.2 years ; $ 10 million of unrecognized compensation expense associated with the rpsrs converted as part of the spin-off , which will be recognized over a weighted average period of one year ; and $ 18 million of unrecognized compensation expense associated with the 2011 rpsrs which will be recognized over a period of 2.0 years .', 'stock options the compensation expense for the outstanding converted stock options was determined at the time of grant by northrop grumman .', 'there were no additional options granted during the year ended december 31 , 2011 .', 'the fair value of the stock option awards is expensed on a straight-line basis over the vesting period of the options .', 'the fair value of each of the stock option award was estimated on the date of grant using a black-scholes option pricing model based on the following assumptions : dividend yield 2014the dividend yield was based on northrop grumman 2019s historical dividend yield level .', 'volatility 2014expected volatility was based on the average of the implied volatility from traded options and the historical volatility of northrop grumman 2019s stock .', 'risk-free interest rate 2014the risk-free rate for periods within the contractual life of the stock option award was based on the yield curve of a zero-coupon u.s .', 'treasury bond on the date the award was granted with a maturity equal to the expected term of the award .', 'expected term 2014the expected term of awards granted was derived from historical experience and represents the period of time that awards granted are expected to be outstanding .', 'a stratification of expected terms based on employee populations ( executive and non-executive ) was considered in the analysis .', 'the following significant weighted-average assumptions were used to value stock options granted during the years ended december 31 , 2010 and 2009: .']
####
Tabular Data:
****************************************
| 2010 | 2009
dividend yield | 2.9% ( 2.9 % ) | 3.6% ( 3.6 % )
volatility rate | 25% ( 25 % ) | 25% ( 25 % )
risk-free interest rate | 2.3% ( 2.3 % ) | 1.7% ( 1.7 % )
expected option life ( years ) | 6 | 5 & 6
****************************************
####
Follow-up: ['the weighted-average grant date fair value of stock options granted during the years ended december 31 , 2010 and 2009 , was $ 11 and $ 7 , per share , respectively. .'] | 0.57143 | HII/2011/page_114.pdf-1 | ['tax benefits recognized for stock-based compensation during the years ended december 31 , 2011 , 2010 and 2009 , were $ 16 million , $ 6 million and $ 5 million , respectively .', 'the amount of northrop grumman shares issued before the spin-off to satisfy stock-based compensation awards are recorded by northrop grumman and , accordingly , are not reflected in hii 2019s consolidated financial statements .', 'the company realized tax benefits during the year ended december 31 , 2011 , of $ 2 million from the exercise of stock options and $ 10 million from the issuance of stock in settlement of rpsrs and rsrs .', 'unrecognized compensation expense at december 31 , 2011 there was $ 1 million of unrecognized compensation expense related to unvested stock option awards , which will be recognized over a weighted average period of 1.1 years .', 'in addition , at december 31 , 2011 , there was $ 19 million of unrecognized compensation expense associated with the 2011 rsrs , which will be recognized over a period of 2.2 years ; $ 10 million of unrecognized compensation expense associated with the rpsrs converted as part of the spin-off , which will be recognized over a weighted average period of one year ; and $ 18 million of unrecognized compensation expense associated with the 2011 rpsrs which will be recognized over a period of 2.0 years .', 'stock options the compensation expense for the outstanding converted stock options was determined at the time of grant by northrop grumman .', 'there were no additional options granted during the year ended december 31 , 2011 .', 'the fair value of the stock option awards is expensed on a straight-line basis over the vesting period of the options .', 'the fair value of each of the stock option award was estimated on the date of grant using a black-scholes option pricing model based on the following assumptions : dividend yield 2014the dividend yield was based on northrop grumman 2019s historical dividend yield level .', 'volatility 2014expected volatility was based on the average of the implied volatility from traded options and the historical volatility of northrop grumman 2019s stock .', 'risk-free interest rate 2014the risk-free rate for periods within the contractual life of the stock option award was based on the yield curve of a zero-coupon u.s .', 'treasury bond on the date the award was granted with a maturity equal to the expected term of the award .', 'expected term 2014the expected term of awards granted was derived from historical experience and represents the period of time that awards granted are expected to be outstanding .', 'a stratification of expected terms based on employee populations ( executive and non-executive ) was considered in the analysis .', 'the following significant weighted-average assumptions were used to value stock options granted during the years ended december 31 , 2010 and 2009: .'] | ['the weighted-average grant date fair value of stock options granted during the years ended december 31 , 2010 and 2009 , was $ 11 and $ 7 , per share , respectively. .'] | ****************************************
| 2010 | 2009
dividend yield | 2.9% ( 2.9 % ) | 3.6% ( 3.6 % )
volatility rate | 25% ( 25 % ) | 25% ( 25 % )
risk-free interest rate | 2.3% ( 2.3 % ) | 1.7% ( 1.7 % )
expected option life ( years ) | 6 | 5 & 6
**************************************** | subtract(11, 7), divide(#0, 7) | 0.57143 |
what percent of the illinois properties relate to data centers? | Background: ['item 1 .', 'business cna financial corporation 2013 ( continued ) unpredictability in the law , insurance underwriting is expected to continue to be difficult in commercial lines , professional liability and other specialty coverages .', 'the dodd-frank wall street reform and consumer protection act expands the federal presence in insurance oversight and may increase the regulatory requirements to which cna may be subject .', 'the act 2019s requirements include streamlining the state-based regulation of reinsurance and nonadmitted insurance ( property or casualty insurance placed from insurers that are eligible to accept insurance , but are not licensed to write insurance in a particular state ) .', 'the act also establishes a new federal insurance office within the u.s .', 'department of the treasury with powers over all lines of insurance except health insurance , certain long term care insurance and crop insurance , to , among other things , monitor aspects of the insurance industry , identify issues in the regulation of insurers that could contribute to a systemic crisis in the insurance industry or the overall financial system , coordinate federal policy on international insurance matters and preempt state insurance measures under certain circumstances .', 'the act calls for numerous studies and contemplates further regulation .', 'the patient protection and affordable care act and the related amendments in the health care and education reconciliation act may increase cna 2019s operating costs and underwriting losses .', 'this landmark legislation may lead to numerous changes in the health care industry that could create additional operating costs for cna , particularly with respect to workers 2019 compensation and long term care products .', 'these costs might arise through the increased use of health care services by claimants or the increased complexities in health care bills that could require additional levels of review .', 'in addition , due to the expected number of new participants in the health care system and the potential for additional malpractice claims , cna may experience increased underwriting risk in the lines of business that provide management and professional liability insurance to individuals and businesses engaged in the health care industry .', 'the lines of business that provide professional liability insurance to attorneys , accountants and other professionals who advise clients regarding the health care reform legislation may also experience increased underwriting risk due to the complexity of the legislation .', 'properties : the chicago location owned by ccc , a wholly owned subsidiary of cna , houses cna 2019s principal executive offices .', 'cna owns or leases office space in various cities throughout the united states and in other countries .', 'the following table sets forth certain information with respect to cna 2019s principal office locations : location ( square feet ) principal usage 333 s .', 'wabash avenue 763322 principal executive offices of cna chicago , illinois 401 penn street 190677 property and casualty insurance offices reading , pennsylvania 2405 lucien way 116948 property and casualty insurance offices maitland , florida 40 wall street 114096 property and casualty insurance offices new york , new york 1100 ward avenue 104478 property and casualty insurance offices honolulu , hawaii 101 s .', 'phillips avenue 83616 property and casualty insurance offices sioux falls , south dakota 600 n .', 'pearl street 65752 property and casualty insurance offices dallas , texas 1249 s .', 'river road 50366 property and casualty insurance offices cranbury , new jersey 4267 meridian parkway 46903 data center aurora , illinois 675 placentia avenue 46571 property and casualty insurance offices brea , california cna leases its office space described above except for the chicago , illinois building , the reading , pennsylvania building , and the aurora , illinois building , which are owned. .']
----------
Tabular Data:
****************************************
location | size ( square feet ) | principal usage
333 s . wabash avenuechicago illinois | 763322 | principal executive offices of cna
401 penn streetreading pennsylvania | 190677 | property and casualty insurance offices
2405 lucien waymaitland florida | 116948 | property and casualty insurance offices
40 wall streetnew york new york | 114096 | property and casualty insurance offices
1100 ward avenuehonolulu hawaii | 104478 | property and casualty insurance offices
101 s . phillips avenuesioux falls south dakota | 83616 | property and casualty insurance offices
600 n . pearl streetdallas texas | 65752 | property and casualty insurance offices
1249 s . river roadcranbury new jersey | 50366 | property and casualty insurance offices
4267 meridian parkwayaurora illinois | 46903 | data center
675 placentia avenuebrea california | 46571 | property and casualty insurance offices
****************************************
----------
Follow-up: ['item 1 .', 'business cna financial corporation 2013 ( continued ) unpredictability in the law , insurance underwriting is expected to continue to be difficult in commercial lines , professional liability and other specialty coverages .', 'the dodd-frank wall street reform and consumer protection act expands the federal presence in insurance oversight and may increase the regulatory requirements to which cna may be subject .', 'the act 2019s requirements include streamlining the state-based regulation of reinsurance and nonadmitted insurance ( property or casualty insurance placed from insurers that are eligible to accept insurance , but are not licensed to write insurance in a particular state ) .', 'the act also establishes a new federal insurance office within the u.s .', 'department of the treasury with powers over all lines of insurance except health insurance , certain long term care insurance and crop insurance , to , among other things , monitor aspects of the insurance industry , identify issues in the regulation of insurers that could contribute to a systemic crisis in the insurance industry or the overall financial system , coordinate federal policy on international insurance matters and preempt state insurance measures under certain circumstances .', 'the act calls for numerous studies and contemplates further regulation .', 'the patient protection and affordable care act and the related amendments in the health care and education reconciliation act may increase cna 2019s operating costs and underwriting losses .', 'this landmark legislation may lead to numerous changes in the health care industry that could create additional operating costs for cna , particularly with respect to workers 2019 compensation and long term care products .', 'these costs might arise through the increased use of health care services by claimants or the increased complexities in health care bills that could require additional levels of review .', 'in addition , due to the expected number of new participants in the health care system and the potential for additional malpractice claims , cna may experience increased underwriting risk in the lines of business that provide management and professional liability insurance to individuals and businesses engaged in the health care industry .', 'the lines of business that provide professional liability insurance to attorneys , accountants and other professionals who advise clients regarding the health care reform legislation may also experience increased underwriting risk due to the complexity of the legislation .', 'properties : the chicago location owned by ccc , a wholly owned subsidiary of cna , houses cna 2019s principal executive offices .', 'cna owns or leases office space in various cities throughout the united states and in other countries .', 'the following table sets forth certain information with respect to cna 2019s principal office locations : location ( square feet ) principal usage 333 s .', 'wabash avenue 763322 principal executive offices of cna chicago , illinois 401 penn street 190677 property and casualty insurance offices reading , pennsylvania 2405 lucien way 116948 property and casualty insurance offices maitland , florida 40 wall street 114096 property and casualty insurance offices new york , new york 1100 ward avenue 104478 property and casualty insurance offices honolulu , hawaii 101 s .', 'phillips avenue 83616 property and casualty insurance offices sioux falls , south dakota 600 n .', 'pearl street 65752 property and casualty insurance offices dallas , texas 1249 s .', 'river road 50366 property and casualty insurance offices cranbury , new jersey 4267 meridian parkway 46903 data center aurora , illinois 675 placentia avenue 46571 property and casualty insurance offices brea , california cna leases its office space described above except for the chicago , illinois building , the reading , pennsylvania building , and the aurora , illinois building , which are owned. .'] | 0.05789 | L/2010/page_41.pdf-2 | ['item 1 .', 'business cna financial corporation 2013 ( continued ) unpredictability in the law , insurance underwriting is expected to continue to be difficult in commercial lines , professional liability and other specialty coverages .', 'the dodd-frank wall street reform and consumer protection act expands the federal presence in insurance oversight and may increase the regulatory requirements to which cna may be subject .', 'the act 2019s requirements include streamlining the state-based regulation of reinsurance and nonadmitted insurance ( property or casualty insurance placed from insurers that are eligible to accept insurance , but are not licensed to write insurance in a particular state ) .', 'the act also establishes a new federal insurance office within the u.s .', 'department of the treasury with powers over all lines of insurance except health insurance , certain long term care insurance and crop insurance , to , among other things , monitor aspects of the insurance industry , identify issues in the regulation of insurers that could contribute to a systemic crisis in the insurance industry or the overall financial system , coordinate federal policy on international insurance matters and preempt state insurance measures under certain circumstances .', 'the act calls for numerous studies and contemplates further regulation .', 'the patient protection and affordable care act and the related amendments in the health care and education reconciliation act may increase cna 2019s operating costs and underwriting losses .', 'this landmark legislation may lead to numerous changes in the health care industry that could create additional operating costs for cna , particularly with respect to workers 2019 compensation and long term care products .', 'these costs might arise through the increased use of health care services by claimants or the increased complexities in health care bills that could require additional levels of review .', 'in addition , due to the expected number of new participants in the health care system and the potential for additional malpractice claims , cna may experience increased underwriting risk in the lines of business that provide management and professional liability insurance to individuals and businesses engaged in the health care industry .', 'the lines of business that provide professional liability insurance to attorneys , accountants and other professionals who advise clients regarding the health care reform legislation may also experience increased underwriting risk due to the complexity of the legislation .', 'properties : the chicago location owned by ccc , a wholly owned subsidiary of cna , houses cna 2019s principal executive offices .', 'cna owns or leases office space in various cities throughout the united states and in other countries .', 'the following table sets forth certain information with respect to cna 2019s principal office locations : location ( square feet ) principal usage 333 s .', 'wabash avenue 763322 principal executive offices of cna chicago , illinois 401 penn street 190677 property and casualty insurance offices reading , pennsylvania 2405 lucien way 116948 property and casualty insurance offices maitland , florida 40 wall street 114096 property and casualty insurance offices new york , new york 1100 ward avenue 104478 property and casualty insurance offices honolulu , hawaii 101 s .', 'phillips avenue 83616 property and casualty insurance offices sioux falls , south dakota 600 n .', 'pearl street 65752 property and casualty insurance offices dallas , texas 1249 s .', 'river road 50366 property and casualty insurance offices cranbury , new jersey 4267 meridian parkway 46903 data center aurora , illinois 675 placentia avenue 46571 property and casualty insurance offices brea , california cna leases its office space described above except for the chicago , illinois building , the reading , pennsylvania building , and the aurora , illinois building , which are owned. .'] | ['item 1 .', 'business cna financial corporation 2013 ( continued ) unpredictability in the law , insurance underwriting is expected to continue to be difficult in commercial lines , professional liability and other specialty coverages .', 'the dodd-frank wall street reform and consumer protection act expands the federal presence in insurance oversight and may increase the regulatory requirements to which cna may be subject .', 'the act 2019s requirements include streamlining the state-based regulation of reinsurance and nonadmitted insurance ( property or casualty insurance placed from insurers that are eligible to accept insurance , but are not licensed to write insurance in a particular state ) .', 'the act also establishes a new federal insurance office within the u.s .', 'department of the treasury with powers over all lines of insurance except health insurance , certain long term care insurance and crop insurance , to , among other things , monitor aspects of the insurance industry , identify issues in the regulation of insurers that could contribute to a systemic crisis in the insurance industry or the overall financial system , coordinate federal policy on international insurance matters and preempt state insurance measures under certain circumstances .', 'the act calls for numerous studies and contemplates further regulation .', 'the patient protection and affordable care act and the related amendments in the health care and education reconciliation act may increase cna 2019s operating costs and underwriting losses .', 'this landmark legislation may lead to numerous changes in the health care industry that could create additional operating costs for cna , particularly with respect to workers 2019 compensation and long term care products .', 'these costs might arise through the increased use of health care services by claimants or the increased complexities in health care bills that could require additional levels of review .', 'in addition , due to the expected number of new participants in the health care system and the potential for additional malpractice claims , cna may experience increased underwriting risk in the lines of business that provide management and professional liability insurance to individuals and businesses engaged in the health care industry .', 'the lines of business that provide professional liability insurance to attorneys , accountants and other professionals who advise clients regarding the health care reform legislation may also experience increased underwriting risk due to the complexity of the legislation .', 'properties : the chicago location owned by ccc , a wholly owned subsidiary of cna , houses cna 2019s principal executive offices .', 'cna owns or leases office space in various cities throughout the united states and in other countries .', 'the following table sets forth certain information with respect to cna 2019s principal office locations : location ( square feet ) principal usage 333 s .', 'wabash avenue 763322 principal executive offices of cna chicago , illinois 401 penn street 190677 property and casualty insurance offices reading , pennsylvania 2405 lucien way 116948 property and casualty insurance offices maitland , florida 40 wall street 114096 property and casualty insurance offices new york , new york 1100 ward avenue 104478 property and casualty insurance offices honolulu , hawaii 101 s .', 'phillips avenue 83616 property and casualty insurance offices sioux falls , south dakota 600 n .', 'pearl street 65752 property and casualty insurance offices dallas , texas 1249 s .', 'river road 50366 property and casualty insurance offices cranbury , new jersey 4267 meridian parkway 46903 data center aurora , illinois 675 placentia avenue 46571 property and casualty insurance offices brea , california cna leases its office space described above except for the chicago , illinois building , the reading , pennsylvania building , and the aurora , illinois building , which are owned. .'] | ****************************************
location | size ( square feet ) | principal usage
333 s . wabash avenuechicago illinois | 763322 | principal executive offices of cna
401 penn streetreading pennsylvania | 190677 | property and casualty insurance offices
2405 lucien waymaitland florida | 116948 | property and casualty insurance offices
40 wall streetnew york new york | 114096 | property and casualty insurance offices
1100 ward avenuehonolulu hawaii | 104478 | property and casualty insurance offices
101 s . phillips avenuesioux falls south dakota | 83616 | property and casualty insurance offices
600 n . pearl streetdallas texas | 65752 | property and casualty insurance offices
1249 s . river roadcranbury new jersey | 50366 | property and casualty insurance offices
4267 meridian parkwayaurora illinois | 46903 | data center
675 placentia avenuebrea california | 46571 | property and casualty insurance offices
**************************************** | add(46903, 763322), divide(46903, #0) | 0.05789 |
does the company spend more on advertising in 2012 than on research and development? | Context: ['38 2013 ppg annual report and form 10-k notes to the consolidated financial statements 1 .', 'summary of significant accounting policies principles of consolidation the accompanying consolidated financial statements include the accounts of ppg industries , inc .', '( 201cppg 201d or the 201ccompany 201d ) and all subsidiaries , both u.s .', 'and non-u.s. , that it controls .', 'ppg owns more than 50% ( 50 % ) of the voting stock of most of the subsidiaries that it controls .', 'for those consolidated subsidiaries in which the company 2019s ownership is less than 100% ( 100 % ) , the outside shareholders 2019 interests are shown as noncontrolling interests .', 'investments in companies in which ppg owns 20% ( 20 % ) to 50% ( 50 % ) of the voting stock and has the ability to exercise significant influence over operating and financial policies of the investee are accounted for using the equity method of accounting .', 'as a result , ppg 2019s share of the earnings or losses of such equity affiliates is included in the accompanying consolidated statement of income and ppg 2019s share of these companies 2019 shareholders 2019 equity is included in "investments" in the accompanying consolidated balance sheet .', 'transactions between ppg and its subsidiaries are eliminated in consolidation .', 'use of estimates in the preparation of financial statements the preparation of financial statements in conformity with u.s .', 'generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements , as well as the reported amounts of income and expenses during the reporting period .', 'such estimates also include the fair value of assets acquired and liabilities assumed as a result of allocations of purchase price of business combinations consummated .', 'actual outcomes could differ from those estimates .', 'revenue recognition the company recognizes revenue when the earnings process is complete .', 'revenue from sales is recognized by all operating segments when goods are shipped and title to inventory and risk of loss passes to the customer or when services have been rendered .', 'shipping and handling costs amounts billed to customers for shipping and handling are reported in 201cnet sales 201d in the accompanying consolidated statement of income .', 'shipping and handling costs incurred by the company for the delivery of goods to customers are included in 201ccost of sales , exclusive of depreciation and amortization 201d in the accompanying consolidated statement of income .', 'selling , general and administrative costs amounts presented as 201cselling , general and administrative 201d in the accompanying consolidated statement of income are comprised of selling , customer service , distribution and advertising costs , as well as the costs of providing corporate- wide functional support in such areas as finance , law , human resources and planning .', 'distribution costs pertain to the movement and storage of finished goods inventory at company- owned and leased warehouses , terminals and other distribution facilities .', 'advertising costs advertising costs are expensed in the year incurred and totaled $ 345 million , $ 288 million and $ 245 million in 2013 , 2012 and 2011 , respectively .', 'research and development research and development costs , which consist primarily of employee related costs , are charged to expense as incurred .', 'the following are the research and development costs for the years ended december 31: .']
--------
Table:
( millions ) | 2013 | 2012 | 2011
----------|----------|----------|----------
research and development 2013 total | $ 505 | $ 468 | $ 443
less depreciation on research facilities | 17 | 15 | 15
research and development net | $ 488 | $ 453 | $ 428
--------
Follow-up: ['legal costs legal costs are expensed as incurred .', 'legal costs incurred by ppg include legal costs associated with acquisition and divestiture transactions , general litigation , environmental regulation compliance , patent and trademark protection and other general corporate purposes .', 'foreign currency translation the functional currency of most significant non-u.s .', 'operations is their local currency .', 'assets and liabilities of those operations are translated into u.s .', 'dollars using year-end exchange rates ; income and expenses are translated using the average exchange rates for the reporting period .', 'unrealized foreign currency translation adjustments are deferred in accumulated other comprehensive loss , a separate component of shareholders 2019 equity .', 'cash equivalents cash equivalents are highly liquid investments ( valued at cost , which approximates fair value ) acquired with an original maturity of three months or less .', 'short-term investments short-term investments are highly liquid , high credit quality investments ( valued at cost plus accrued interest ) that have stated maturities of greater than three months to one year .', 'the purchases and sales of these investments are classified as investing activities in the consolidated statement of cash flows .', 'marketable equity securities the company 2019s investment in marketable equity securities is recorded at fair market value and reported in 201cother current assets 201d and 201cinvestments 201d in the accompanying consolidated balance sheet with changes in fair market value recorded in income for those securities designated as trading securities and in other comprehensive income , net of tax , for those designated as available for sale securities. .'] | no | PPG/2013/page_40.pdf-2 | ['38 2013 ppg annual report and form 10-k notes to the consolidated financial statements 1 .', 'summary of significant accounting policies principles of consolidation the accompanying consolidated financial statements include the accounts of ppg industries , inc .', '( 201cppg 201d or the 201ccompany 201d ) and all subsidiaries , both u.s .', 'and non-u.s. , that it controls .', 'ppg owns more than 50% ( 50 % ) of the voting stock of most of the subsidiaries that it controls .', 'for those consolidated subsidiaries in which the company 2019s ownership is less than 100% ( 100 % ) , the outside shareholders 2019 interests are shown as noncontrolling interests .', 'investments in companies in which ppg owns 20% ( 20 % ) to 50% ( 50 % ) of the voting stock and has the ability to exercise significant influence over operating and financial policies of the investee are accounted for using the equity method of accounting .', 'as a result , ppg 2019s share of the earnings or losses of such equity affiliates is included in the accompanying consolidated statement of income and ppg 2019s share of these companies 2019 shareholders 2019 equity is included in "investments" in the accompanying consolidated balance sheet .', 'transactions between ppg and its subsidiaries are eliminated in consolidation .', 'use of estimates in the preparation of financial statements the preparation of financial statements in conformity with u.s .', 'generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements , as well as the reported amounts of income and expenses during the reporting period .', 'such estimates also include the fair value of assets acquired and liabilities assumed as a result of allocations of purchase price of business combinations consummated .', 'actual outcomes could differ from those estimates .', 'revenue recognition the company recognizes revenue when the earnings process is complete .', 'revenue from sales is recognized by all operating segments when goods are shipped and title to inventory and risk of loss passes to the customer or when services have been rendered .', 'shipping and handling costs amounts billed to customers for shipping and handling are reported in 201cnet sales 201d in the accompanying consolidated statement of income .', 'shipping and handling costs incurred by the company for the delivery of goods to customers are included in 201ccost of sales , exclusive of depreciation and amortization 201d in the accompanying consolidated statement of income .', 'selling , general and administrative costs amounts presented as 201cselling , general and administrative 201d in the accompanying consolidated statement of income are comprised of selling , customer service , distribution and advertising costs , as well as the costs of providing corporate- wide functional support in such areas as finance , law , human resources and planning .', 'distribution costs pertain to the movement and storage of finished goods inventory at company- owned and leased warehouses , terminals and other distribution facilities .', 'advertising costs advertising costs are expensed in the year incurred and totaled $ 345 million , $ 288 million and $ 245 million in 2013 , 2012 and 2011 , respectively .', 'research and development research and development costs , which consist primarily of employee related costs , are charged to expense as incurred .', 'the following are the research and development costs for the years ended december 31: .'] | ['legal costs legal costs are expensed as incurred .', 'legal costs incurred by ppg include legal costs associated with acquisition and divestiture transactions , general litigation , environmental regulation compliance , patent and trademark protection and other general corporate purposes .', 'foreign currency translation the functional currency of most significant non-u.s .', 'operations is their local currency .', 'assets and liabilities of those operations are translated into u.s .', 'dollars using year-end exchange rates ; income and expenses are translated using the average exchange rates for the reporting period .', 'unrealized foreign currency translation adjustments are deferred in accumulated other comprehensive loss , a separate component of shareholders 2019 equity .', 'cash equivalents cash equivalents are highly liquid investments ( valued at cost , which approximates fair value ) acquired with an original maturity of three months or less .', 'short-term investments short-term investments are highly liquid , high credit quality investments ( valued at cost plus accrued interest ) that have stated maturities of greater than three months to one year .', 'the purchases and sales of these investments are classified as investing activities in the consolidated statement of cash flows .', 'marketable equity securities the company 2019s investment in marketable equity securities is recorded at fair market value and reported in 201cother current assets 201d and 201cinvestments 201d in the accompanying consolidated balance sheet with changes in fair market value recorded in income for those securities designated as trading securities and in other comprehensive income , net of tax , for those designated as available for sale securities. .'] | ( millions ) | 2013 | 2012 | 2011
----------|----------|----------|----------
research and development 2013 total | $ 505 | $ 468 | $ 443
less depreciation on research facilities | 17 | 15 | 15
research and development net | $ 488 | $ 453 | $ 428 | greater(288, 468) | no |
was was the total amount spent on stock repurchases in december 2012? | Context: ['issuer purchases of equity securities during the three months ended december 31 , 2012 , we repurchased 619314 shares of our common stock for an aggregate of approximately $ 46.0 million , including commissions and fees , pursuant to our publicly announced stock repurchase program , as follows : period total number of shares purchased ( 1 ) average price paid per share ( 2 ) total number of shares purchased as part of publicly announced plans or programs approximate dollar value of shares that may yet be purchased under the plans or programs ( in millions ) .']
########
Table:
----------------------------------------
Row 1: period, total number of shares purchased ( 1 ), average price paid per share ( 2 ), total number of shares purchased as part of publicly announced plans orprograms, approximate dollar value of shares that may yet be purchased under the plans orprograms ( in millions )
Row 2: october 2012, 27524, $ 72.62, 27524, $ 1300.1
Row 3: november 2012, 489390, $ 74.22, 489390, $ 1263.7
Row 4: december 2012, 102400, $ 74.83, 102400, $ 1256.1
Row 5: total fourth quarter, 619314, $ 74.25, 619314, $ 1256.1
----------------------------------------
########
Follow-up: ['( 1 ) repurchases made pursuant to the $ 1.5 billion stock repurchase program approved by our board of directors in march 2011 ( the 201c2011 buyback 201d ) .', 'under this program , our management is authorized to purchase shares from time to time through open market purchases or privately negotiated transactions at prevailing prices as permitted by securities laws and other legal requirements , and subject to market conditions and other factors .', 'to facilitate repurchases , we make purchases pursuant to trading plans under rule 10b5-1 of the exchange act , which allows us to repurchase shares during periods when we otherwise might be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods .', 'this program may be discontinued at any time .', '( 2 ) average price per share is calculated using the aggregate price , excluding commissions and fees .', 'we continued to repurchase shares of our common stock pursuant to our 2011 buyback subsequent to december 31 , 2012 .', 'between january 1 , 2013 and january 21 , 2013 , we repurchased an additional 15790 shares of our common stock for an aggregate of $ 1.2 million , including commissions and fees , pursuant to the 2011 buyback .', 'as a result , as of january 21 , 2013 , we had repurchased a total of approximately 4.3 million shares of our common stock under the 2011 buyback for an aggregate of $ 245.2 million , including commissions and fees .', 'we expect to continue to manage the pacing of the remaining $ 1.3 billion under the 2011 buyback in response to general market conditions and other relevant factors. .'] | 7662592.0 | AMT/2012/page_50.pdf-2 | ['issuer purchases of equity securities during the three months ended december 31 , 2012 , we repurchased 619314 shares of our common stock for an aggregate of approximately $ 46.0 million , including commissions and fees , pursuant to our publicly announced stock repurchase program , as follows : period total number of shares purchased ( 1 ) average price paid per share ( 2 ) total number of shares purchased as part of publicly announced plans or programs approximate dollar value of shares that may yet be purchased under the plans or programs ( in millions ) .'] | ['( 1 ) repurchases made pursuant to the $ 1.5 billion stock repurchase program approved by our board of directors in march 2011 ( the 201c2011 buyback 201d ) .', 'under this program , our management is authorized to purchase shares from time to time through open market purchases or privately negotiated transactions at prevailing prices as permitted by securities laws and other legal requirements , and subject to market conditions and other factors .', 'to facilitate repurchases , we make purchases pursuant to trading plans under rule 10b5-1 of the exchange act , which allows us to repurchase shares during periods when we otherwise might be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods .', 'this program may be discontinued at any time .', '( 2 ) average price per share is calculated using the aggregate price , excluding commissions and fees .', 'we continued to repurchase shares of our common stock pursuant to our 2011 buyback subsequent to december 31 , 2012 .', 'between january 1 , 2013 and january 21 , 2013 , we repurchased an additional 15790 shares of our common stock for an aggregate of $ 1.2 million , including commissions and fees , pursuant to the 2011 buyback .', 'as a result , as of january 21 , 2013 , we had repurchased a total of approximately 4.3 million shares of our common stock under the 2011 buyback for an aggregate of $ 245.2 million , including commissions and fees .', 'we expect to continue to manage the pacing of the remaining $ 1.3 billion under the 2011 buyback in response to general market conditions and other relevant factors. .'] | ----------------------------------------
Row 1: period, total number of shares purchased ( 1 ), average price paid per share ( 2 ), total number of shares purchased as part of publicly announced plans orprograms, approximate dollar value of shares that may yet be purchased under the plans orprograms ( in millions )
Row 2: october 2012, 27524, $ 72.62, 27524, $ 1300.1
Row 3: november 2012, 489390, $ 74.22, 489390, $ 1263.7
Row 4: december 2012, 102400, $ 74.83, 102400, $ 1256.1
Row 5: total fourth quarter, 619314, $ 74.25, 619314, $ 1256.1
---------------------------------------- | multiply(102400, 74.83) | 7662592.0 |
what is the growth rate in net revenues in 2018? | Pre-text: ['the goldman sachs group , inc .', 'and subsidiaries management 2019s discussion and analysis net revenues the table below presents net revenues by line item. .']
Data Table:
$ in millions year ended december 2018 year ended december 2017 year ended december 2016
investment banking $ 7862 $ 7371 $ 6273
investment management 6514 5803 5407
commissions and fees 3199 3051 3208
market making 9451 7660 9933
other principal transactions 5823 5913 3382
totalnon-interestrevenues 32849 29798 28203
interest income 19679 13113 9691
interest expense 15912 10181 7104
net interest income 3767 2932 2587
total net revenues $ 36616 $ 32730 $ 30790
Additional Information: ['in the table above : 2030 investment banking consists of revenues ( excluding net interest ) from financial advisory and underwriting assignments , as well as derivative transactions directly related to these assignments .', 'these activities are included in our investment banking segment .', '2030 investment management consists of revenues ( excluding net interest ) from providing investment management services to a diverse set of clients , as well as wealth advisory services and certain transaction services to high-net-worth individuals and families .', 'these activities are included in our investment management segment .', '2030 commissions and fees consists of revenues from executing and clearing client transactions on major stock , options and futures exchanges worldwide , as well as over-the-counter ( otc ) transactions .', 'these activities are included in our institutional client services and investment management segments .', '2030 market making consists of revenues ( excluding net interest ) from client execution activities related to making markets in interest rate products , credit products , mortgages , currencies , commodities and equity products .', 'these activities are included in our institutional client services segment .', '2030 other principal transactions consists of revenues ( excluding net interest ) from our investing activities and the origination of loans to provide financing to clients .', 'in addition , other principal transactions includes revenues related to our consolidated investments .', 'these activities are included in our investing & lending segment .', 'provision for credit losses , previously reported in other principal transactions revenues , is now reported as a separate line item in the consolidated statements of earnings .', 'previously reported amounts have been conformed to the current presentation .', 'operating environment .', 'during 2018 , our market- making activities reflected generally higher levels of volatility and improved client activity , compared with a low volatility environment in 2017 .', 'in investment banking , industry-wide mergers and acquisitions volumes increased compared with 2017 , while industry-wide underwriting transactions decreased .', 'our other principal transactions revenues benefited from company-specific events , including sales , and strong corporate performance , while investments in public equities reflected losses , as global equity prices generally decreased in 2018 , particularly towards the end of the year .', 'in investment management , our assets under supervision increased reflecting net inflows in liquidity products , fixed income assets and equity assets , partially offset by depreciation in client assets , primarily in equity assets .', 'if market-making or investment banking activity levels decline , or assets under supervision decline , or asset prices continue to decline , net revenues would likely be negatively impacted .', 'see 201csegment operating results 201d for further information about the operating environment and material trends and uncertainties that may impact our results of operations .', 'during 2017 , generally higher asset prices and tighter credit spreads were supportive of industry-wide underwriting activities , investment management performance and other principal transactions .', 'however , low levels of volatility in equity , fixed income , currency and commodity markets continued to negatively affect our market-making activities .', '2018 versus 2017 net revenues in the consolidated statements of earnings were $ 36.62 billion for 2018 , 12% ( 12 % ) higher than 2017 , primarily due to significantly higher market making revenues and net interest income , as well as higher investment management revenues and investment banking revenues .', 'non-interest revenues .', 'investment banking revenues in the consolidated statements of earnings were $ 7.86 billion for 2018 , 7% ( 7 % ) higher than 2017 .', 'revenues in financial advisory were higher , reflecting an increase in industry-wide completed mergers and acquisitions volumes .', 'revenues in underwriting were slightly higher , due to significantly higher revenues in equity underwriting , driven by initial public offerings , partially offset by lower revenues in debt underwriting , reflecting a decline in leveraged finance activity .', 'investment management revenues in the consolidated statements of earnings were $ 6.51 billion for 2018 , 12% ( 12 % ) higher than 2017 , primarily due to significantly higher incentive fees , as a result of harvesting .', 'management and other fees were also higher , reflecting higher average assets under supervision and the impact of the recently adopted revenue recognition standard , partially offset by shifts in the mix of client assets and strategies .', 'see note 3 to the consolidated financial statements for further information about asu no .', '2014-09 , 201crevenue from contracts with customers ( topic 606 ) . 201d 52 goldman sachs 2018 form 10-k .'] | 0.11873 | GS/2018/page_68.pdf-1 | ['the goldman sachs group , inc .', 'and subsidiaries management 2019s discussion and analysis net revenues the table below presents net revenues by line item. .'] | ['in the table above : 2030 investment banking consists of revenues ( excluding net interest ) from financial advisory and underwriting assignments , as well as derivative transactions directly related to these assignments .', 'these activities are included in our investment banking segment .', '2030 investment management consists of revenues ( excluding net interest ) from providing investment management services to a diverse set of clients , as well as wealth advisory services and certain transaction services to high-net-worth individuals and families .', 'these activities are included in our investment management segment .', '2030 commissions and fees consists of revenues from executing and clearing client transactions on major stock , options and futures exchanges worldwide , as well as over-the-counter ( otc ) transactions .', 'these activities are included in our institutional client services and investment management segments .', '2030 market making consists of revenues ( excluding net interest ) from client execution activities related to making markets in interest rate products , credit products , mortgages , currencies , commodities and equity products .', 'these activities are included in our institutional client services segment .', '2030 other principal transactions consists of revenues ( excluding net interest ) from our investing activities and the origination of loans to provide financing to clients .', 'in addition , other principal transactions includes revenues related to our consolidated investments .', 'these activities are included in our investing & lending segment .', 'provision for credit losses , previously reported in other principal transactions revenues , is now reported as a separate line item in the consolidated statements of earnings .', 'previously reported amounts have been conformed to the current presentation .', 'operating environment .', 'during 2018 , our market- making activities reflected generally higher levels of volatility and improved client activity , compared with a low volatility environment in 2017 .', 'in investment banking , industry-wide mergers and acquisitions volumes increased compared with 2017 , while industry-wide underwriting transactions decreased .', 'our other principal transactions revenues benefited from company-specific events , including sales , and strong corporate performance , while investments in public equities reflected losses , as global equity prices generally decreased in 2018 , particularly towards the end of the year .', 'in investment management , our assets under supervision increased reflecting net inflows in liquidity products , fixed income assets and equity assets , partially offset by depreciation in client assets , primarily in equity assets .', 'if market-making or investment banking activity levels decline , or assets under supervision decline , or asset prices continue to decline , net revenues would likely be negatively impacted .', 'see 201csegment operating results 201d for further information about the operating environment and material trends and uncertainties that may impact our results of operations .', 'during 2017 , generally higher asset prices and tighter credit spreads were supportive of industry-wide underwriting activities , investment management performance and other principal transactions .', 'however , low levels of volatility in equity , fixed income , currency and commodity markets continued to negatively affect our market-making activities .', '2018 versus 2017 net revenues in the consolidated statements of earnings were $ 36.62 billion for 2018 , 12% ( 12 % ) higher than 2017 , primarily due to significantly higher market making revenues and net interest income , as well as higher investment management revenues and investment banking revenues .', 'non-interest revenues .', 'investment banking revenues in the consolidated statements of earnings were $ 7.86 billion for 2018 , 7% ( 7 % ) higher than 2017 .', 'revenues in financial advisory were higher , reflecting an increase in industry-wide completed mergers and acquisitions volumes .', 'revenues in underwriting were slightly higher , due to significantly higher revenues in equity underwriting , driven by initial public offerings , partially offset by lower revenues in debt underwriting , reflecting a decline in leveraged finance activity .', 'investment management revenues in the consolidated statements of earnings were $ 6.51 billion for 2018 , 12% ( 12 % ) higher than 2017 , primarily due to significantly higher incentive fees , as a result of harvesting .', 'management and other fees were also higher , reflecting higher average assets under supervision and the impact of the recently adopted revenue recognition standard , partially offset by shifts in the mix of client assets and strategies .', 'see note 3 to the consolidated financial statements for further information about asu no .', '2014-09 , 201crevenue from contracts with customers ( topic 606 ) . 201d 52 goldman sachs 2018 form 10-k .'] | $ in millions year ended december 2018 year ended december 2017 year ended december 2016
investment banking $ 7862 $ 7371 $ 6273
investment management 6514 5803 5407
commissions and fees 3199 3051 3208
market making 9451 7660 9933
other principal transactions 5823 5913 3382
totalnon-interestrevenues 32849 29798 28203
interest income 19679 13113 9691
interest expense 15912 10181 7104
net interest income 3767 2932 2587
total net revenues $ 36616 $ 32730 $ 30790 | subtract(36616, 32730), divide(#0, 32730) | 0.11873 |
what is the change in cash flow from operating activities due to the changes in accounts receivable? | Context: ['notes to consolidated financial statements ( continued ) fair value measurements the fasb issued updated authoritative guidance in may 2011 to amend fair value measurements and related disclosures ; the guidance became effective for snap-on at the beginning of its 2012 fiscal year .', 'this guidance relates to a major convergence project of the fasb and the international accounting standards board to improve international financial reporting standards ( 201cifrs 201d ) and u.s .', 'gaap .', 'this guidance resulted in a consistent definition of fair value and common requirements for measurement of and disclosure about fair value between ifrs and u.s .', 'gaap .', 'the guidance also changed some fair value measurement principles and enhanced disclosure requirements related to activities in level 3 of the fair value hierarchy .', 'the adoption of this updated authoritative guidance had no impact on the company 2019s consolidated financial statements .', 'disclosures relating to comprehensive income the fasb issued updated authoritative guidance in june 2011 to amend the presentation of comprehensive income in financial statements .', 'the fasb also issued an accounting standards update in december 2011 that indefinitely deferred certain financial statement presentation provisions contained in its original june 2011 guidance .', 'the guidance , which became effective for snap-on on a retrospective basis at the beginning of its 2012 fiscal year , gives companies the option to present other comprehensive income in either a single continuous statement or in two separate but consecutive statements .', 'under both alternatives , companies are required to annually present each component of comprehensive income .', 'the adoption of this updated authoritative guidance impacted the presentation of the company 2019s consolidated statements of comprehensive income , but it did not change the items that must be reported in other comprehensive income or when an item of other comprehensive income must be reclassified to net income .', 'note 2 : acquisitions snap-on acquired a 60% ( 60 % ) interest in snap-on asia manufacturing ( zhejiang ) co .', 'ltd .', '( 201cxiaoshan 201d ) ( formerly known as wanda snap-on ( zhejiang ) co .', 'ltd. ) , the company 2019s tool manufacturing operation in xiaoshan , china , in 2008 .', 'snap-on acquired the remaining 40% ( 40 % ) redeemable noncontrolling interest in xiaoshan in april 2010 for a purchase price of $ 7.7 million and $ 0.1 million of transaction costs .', 'note 3 : receivables trade and other accounts receivable snap-on 2019s trade and other accounts receivable primarily arise from the sale of tools , diagnostics and equipment to a broad range of industrial and commercial customers and to snap-on 2019s independent franchise van channel on a non- extended-term basis with payment terms generally ranging from 30 to 120 days .', 'the components of snap-on 2019s trade and other accounts receivable as of 2012 and 2011 year end are as follows : ( amounts in millions ) 2012 2011 .']
####
Table:
****************************************
( amounts in millions ) | 2012 | 2011
----------|----------|----------
trade and other accounts receivable | $ 516.9 | $ 485.5
allowances for doubtful accounts | -19.0 ( 19.0 ) | -22.0 ( 22.0 )
total trade and other accounts receivable 2013 net | $ 497.9 | $ 463.5
****************************************
####
Additional Information: ['finance and contract receivables soc originates extended-term finance and contract receivables on sales of snap-on product sold through the u.s .', 'franchisee and customer network and to snap-on 2019s industrial and other customers ; snap-on 2019s foreign finance subsidiaries provide similar financing internationally .', 'interest income on finance and contract receivables is included in 201cfinancial services revenue 201d on the accompanying consolidated statements of earnings .', '74 snap-on incorporated .'] | -31.4 | SNA/2012/page_84.pdf-2 | ['notes to consolidated financial statements ( continued ) fair value measurements the fasb issued updated authoritative guidance in may 2011 to amend fair value measurements and related disclosures ; the guidance became effective for snap-on at the beginning of its 2012 fiscal year .', 'this guidance relates to a major convergence project of the fasb and the international accounting standards board to improve international financial reporting standards ( 201cifrs 201d ) and u.s .', 'gaap .', 'this guidance resulted in a consistent definition of fair value and common requirements for measurement of and disclosure about fair value between ifrs and u.s .', 'gaap .', 'the guidance also changed some fair value measurement principles and enhanced disclosure requirements related to activities in level 3 of the fair value hierarchy .', 'the adoption of this updated authoritative guidance had no impact on the company 2019s consolidated financial statements .', 'disclosures relating to comprehensive income the fasb issued updated authoritative guidance in june 2011 to amend the presentation of comprehensive income in financial statements .', 'the fasb also issued an accounting standards update in december 2011 that indefinitely deferred certain financial statement presentation provisions contained in its original june 2011 guidance .', 'the guidance , which became effective for snap-on on a retrospective basis at the beginning of its 2012 fiscal year , gives companies the option to present other comprehensive income in either a single continuous statement or in two separate but consecutive statements .', 'under both alternatives , companies are required to annually present each component of comprehensive income .', 'the adoption of this updated authoritative guidance impacted the presentation of the company 2019s consolidated statements of comprehensive income , but it did not change the items that must be reported in other comprehensive income or when an item of other comprehensive income must be reclassified to net income .', 'note 2 : acquisitions snap-on acquired a 60% ( 60 % ) interest in snap-on asia manufacturing ( zhejiang ) co .', 'ltd .', '( 201cxiaoshan 201d ) ( formerly known as wanda snap-on ( zhejiang ) co .', 'ltd. ) , the company 2019s tool manufacturing operation in xiaoshan , china , in 2008 .', 'snap-on acquired the remaining 40% ( 40 % ) redeemable noncontrolling interest in xiaoshan in april 2010 for a purchase price of $ 7.7 million and $ 0.1 million of transaction costs .', 'note 3 : receivables trade and other accounts receivable snap-on 2019s trade and other accounts receivable primarily arise from the sale of tools , diagnostics and equipment to a broad range of industrial and commercial customers and to snap-on 2019s independent franchise van channel on a non- extended-term basis with payment terms generally ranging from 30 to 120 days .', 'the components of snap-on 2019s trade and other accounts receivable as of 2012 and 2011 year end are as follows : ( amounts in millions ) 2012 2011 .'] | ['finance and contract receivables soc originates extended-term finance and contract receivables on sales of snap-on product sold through the u.s .', 'franchisee and customer network and to snap-on 2019s industrial and other customers ; snap-on 2019s foreign finance subsidiaries provide similar financing internationally .', 'interest income on finance and contract receivables is included in 201cfinancial services revenue 201d on the accompanying consolidated statements of earnings .', '74 snap-on incorporated .'] | ****************************************
( amounts in millions ) | 2012 | 2011
----------|----------|----------
trade and other accounts receivable | $ 516.9 | $ 485.5
allowances for doubtful accounts | -19.0 ( 19.0 ) | -22.0 ( 22.0 )
total trade and other accounts receivable 2013 net | $ 497.9 | $ 463.5
**************************************** | subtract(485.5, 516.9) | -31.4 |
what were average operating profitfor space systems from 2004 to 2006 , in millions? | Pre-text: ['operating profit for the segment increased by 15% ( 15 % ) in 2005 compared to 2004 .', 'operating profit increased by $ 80 million at m&fc mainly due to improved performance on fire control and air defense programs .', 'performance on surface systems programs contributed to an increase in operating profit of $ 50 million at ms2 .', 'pt&ts operating profit increased $ 10 million primarily due to improved performance on simulation and training programs .', 'the increase in backlog during 2006 over 2005 resulted primarily from increased orders on certain platform integration programs in pt&ts .', 'space systems space systems 2019 operating results included the following : ( in millions ) 2006 2005 2004 .']
----
Tabular Data:
( in millions ), 2006, 2005, 2004
net sales, $ 7923, $ 6820, $ 6359
operating profit, 746, 609, 489
backlog at year-end, 18768, 15925, 16112
----
Follow-up: ['net sales for space systems increased by 16% ( 16 % ) in 2006 compared to 2005 .', 'during the year , sales growth in satellites and strategic & defensive missile systems ( s&dms ) offset declines in space transportation .', 'the $ 1.1 billion growth in satellites sales was mainly due to higher volume on both government and commercial satellite programs .', 'there were five commercial satellite deliveries in 2006 compared to no deliveries in 2005 .', 'higher volume in both fleet ballistic missile and missile defense programs accounted for the $ 114 million sales increase at s&dms .', 'in space transportation , sales declined $ 102 million primarily due to lower volume in government space transportation activities on the titan and external tank programs .', 'increased sales on the atlas evolved expendable launch vehicle launch capabilities ( elc ) contract partially offset the lower government space transportation sales .', 'net sales for space systems increased by 7% ( 7 % ) in 2005 compared to 2004 .', 'during the year , sales growth in satellites and s&dms offset declines in space transportation .', 'the $ 410 million increase in satellites sales was due to higher volume on government satellite programs that more than offset declines in commercial satellite activities .', 'there were no commercial satellite deliveries in 2005 , compared to four in 2004 .', 'increased sales of $ 235 million in s&dms were attributable to the fleet ballistic missile and missile defense programs .', 'the $ 180 million decrease in space transportation 2019s sales was mainly due to having three atlas launches in 2005 compared to six in 2004 .', 'operating profit for the segment increased 22% ( 22 % ) in 2006 compared to 2005 .', 'operating profit increased in satellites , space transportation and s&dms .', 'the $ 72 million growth in satellites operating profit was primarily driven by the volume and performance on government satellite programs and commercial satellite deliveries .', 'in space transportation , the $ 39 million growth in operating profit was attributable to improved performance on the atlas program resulting from risk reduction activities , including the first quarter definitization of the elc contract .', 'in s&dms , the $ 26 million increase in operating profit was due to higher volume and improved performance on both the fleet ballistic missile and missile defense programs .', 'operating profit for the segment increased 25% ( 25 % ) in 2005 compared to 2004 .', 'operating profit increased in space transportation , s&dms and satellites .', 'in space transportation , the $ 60 million increase in operating profit was primarily attributable to improved performance on the atlas vehicle program .', 'satellites 2019 operating profit increased $ 35 million due to the higher volume and improved performance on government satellite programs , which more than offset the decreased operating profit due to the decline in commercial satellite deliveries .', 'the $ 20 million increase in s&dms was attributable to higher volume on fleet ballistic missile and missile defense programs .', 'in december 2006 , we completed a transaction with boeing to form ula , a joint venture which combines the production , engineering , test and launch operations associated with u.s .', 'government launches of our atlas launch vehicles and boeing 2019s delta launch vehicles ( see related discussion on our 201cspace business 201d under 201cindustry considerations 201d ) .', 'we are accounting for our investment in ula under the equity method of accounting .', 'as a result , our share of the net earnings or losses of ula are included in other income and expenses , and we will no longer recognize sales related to launch vehicle services provided to the u.s .', 'government .', 'in 2006 , we recorded sales to the u.s .', 'government for atlas launch services totaling approximately $ 600 million .', 'we have retained the right to market commercial atlas launch services .', 'we contributed assets to ula , and ula assumed liabilities related to our atlas business in exchange for our 50% ( 50 % ) ownership interest .', 'the net book value of the assets contributed and liabilities assumed was approximately $ 200 million at .'] | 614.66667 | LMT/2006/page_54.pdf-3 | ['operating profit for the segment increased by 15% ( 15 % ) in 2005 compared to 2004 .', 'operating profit increased by $ 80 million at m&fc mainly due to improved performance on fire control and air defense programs .', 'performance on surface systems programs contributed to an increase in operating profit of $ 50 million at ms2 .', 'pt&ts operating profit increased $ 10 million primarily due to improved performance on simulation and training programs .', 'the increase in backlog during 2006 over 2005 resulted primarily from increased orders on certain platform integration programs in pt&ts .', 'space systems space systems 2019 operating results included the following : ( in millions ) 2006 2005 2004 .'] | ['net sales for space systems increased by 16% ( 16 % ) in 2006 compared to 2005 .', 'during the year , sales growth in satellites and strategic & defensive missile systems ( s&dms ) offset declines in space transportation .', 'the $ 1.1 billion growth in satellites sales was mainly due to higher volume on both government and commercial satellite programs .', 'there were five commercial satellite deliveries in 2006 compared to no deliveries in 2005 .', 'higher volume in both fleet ballistic missile and missile defense programs accounted for the $ 114 million sales increase at s&dms .', 'in space transportation , sales declined $ 102 million primarily due to lower volume in government space transportation activities on the titan and external tank programs .', 'increased sales on the atlas evolved expendable launch vehicle launch capabilities ( elc ) contract partially offset the lower government space transportation sales .', 'net sales for space systems increased by 7% ( 7 % ) in 2005 compared to 2004 .', 'during the year , sales growth in satellites and s&dms offset declines in space transportation .', 'the $ 410 million increase in satellites sales was due to higher volume on government satellite programs that more than offset declines in commercial satellite activities .', 'there were no commercial satellite deliveries in 2005 , compared to four in 2004 .', 'increased sales of $ 235 million in s&dms were attributable to the fleet ballistic missile and missile defense programs .', 'the $ 180 million decrease in space transportation 2019s sales was mainly due to having three atlas launches in 2005 compared to six in 2004 .', 'operating profit for the segment increased 22% ( 22 % ) in 2006 compared to 2005 .', 'operating profit increased in satellites , space transportation and s&dms .', 'the $ 72 million growth in satellites operating profit was primarily driven by the volume and performance on government satellite programs and commercial satellite deliveries .', 'in space transportation , the $ 39 million growth in operating profit was attributable to improved performance on the atlas program resulting from risk reduction activities , including the first quarter definitization of the elc contract .', 'in s&dms , the $ 26 million increase in operating profit was due to higher volume and improved performance on both the fleet ballistic missile and missile defense programs .', 'operating profit for the segment increased 25% ( 25 % ) in 2005 compared to 2004 .', 'operating profit increased in space transportation , s&dms and satellites .', 'in space transportation , the $ 60 million increase in operating profit was primarily attributable to improved performance on the atlas vehicle program .', 'satellites 2019 operating profit increased $ 35 million due to the higher volume and improved performance on government satellite programs , which more than offset the decreased operating profit due to the decline in commercial satellite deliveries .', 'the $ 20 million increase in s&dms was attributable to higher volume on fleet ballistic missile and missile defense programs .', 'in december 2006 , we completed a transaction with boeing to form ula , a joint venture which combines the production , engineering , test and launch operations associated with u.s .', 'government launches of our atlas launch vehicles and boeing 2019s delta launch vehicles ( see related discussion on our 201cspace business 201d under 201cindustry considerations 201d ) .', 'we are accounting for our investment in ula under the equity method of accounting .', 'as a result , our share of the net earnings or losses of ula are included in other income and expenses , and we will no longer recognize sales related to launch vehicle services provided to the u.s .', 'government .', 'in 2006 , we recorded sales to the u.s .', 'government for atlas launch services totaling approximately $ 600 million .', 'we have retained the right to market commercial atlas launch services .', 'we contributed assets to ula , and ula assumed liabilities related to our atlas business in exchange for our 50% ( 50 % ) ownership interest .', 'the net book value of the assets contributed and liabilities assumed was approximately $ 200 million at .'] | ( in millions ), 2006, 2005, 2004
net sales, $ 7923, $ 6820, $ 6359
operating profit, 746, 609, 489
backlog at year-end, 18768, 15925, 16112 | table_average(operating profit, none) | 614.66667 |
what percentage of total cash and investments as of dec . 28 2013 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 .']
----
Data 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
========================================
----
Follow-up: ['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 ) .'] | 0.57305 | INTC/2013/page_71.pdf-3 | ['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(18086, 31561) | 0.57305 |
how much higher was the u.s gulf coast crack spread than the chicago crack spread in the first quarter of 2008? | Context: ['our refining and wholesale marketing gross margin is the difference between the prices of refined products sold and the costs of crude oil and other charge and blendstocks refined , including the costs to transport these inputs to our refineries , the costs of purchased products and manufacturing expenses , including depreciation .', 'the crack spread is a measure of the difference between market prices for refined products and crude oil , commonly used by the industry as an indicator of the impact of price on the refining margin .', 'crack spreads can fluctuate significantly , particularly when prices of refined products do not move in the same relationship as the cost of crude oil .', 'as a performance benchmark and a comparison with other industry participants , we calculate midwest ( chicago ) and u.s .', 'gulf coast crack spreads that we feel most closely track our operations and slate of products .', 'posted light louisiana sweet ( 201clls 201d ) prices and a 6-3-2-1 ratio of products ( 6 barrels of crude oil producing 3 barrels of gasoline , 2 barrels of distillate and 1 barrel of residual fuel ) are used for the crack spread calculation .', 'the following table lists calculated average crack spreads by quarter for the midwest ( chicago ) and gulf coast markets in 2008 .', 'crack spreads ( dollars per barrel ) 1st qtr 2nd qtr 3rd qtr 4th qtr 2008 .']
Data Table:
crack spreads ( dollars per barrel ) | 1st qtr | 2nd qtr | 3rd qtr | 4th qtr | 2008
----------|----------|----------|----------|----------|----------
chicago lls 6-3-2-1 | $ 0.07 | $ 2.71 | $ 7.81 | $ 2.31 | $ 3.27
us gulf coast lls 6-3-2-1 | $ 1.39 | $ 1.99 | $ 6.32 | ( $ 0.01 ) | $ 2.45
Follow-up: ['in addition to the market changes indicated by the crack spreads , our refining and wholesale marketing gross margin is impacted by factors such as the types of crude oil and other charge and blendstocks processed , the selling prices realized for refined products , the impact of commodity derivative instruments used to mitigate price risk and the cost of purchased products for resale .', 'we process significant amounts of sour crude oil which can enhance our profitability compared to certain of our competitors , as sour crude oil typically can be purchased at a discount to sweet crude oil .', 'finally , our refining and wholesale marketing gross margin is impacted by changes in manufacturing costs , which are primarily driven by the level of maintenance activities at the refineries and the price of purchased natural gas used for plant fuel .', 'our 2008 refining and wholesale marketing gross margin was the key driver of the 43 percent decrease in rm&t segment income when compared to 2007 .', 'our average refining and wholesale marketing gross margin per gallon decreased 37 percent , to 11.66 cents in 2008 from 18.48 cents in 2007 , primarily due to the significant and rapid increases in crude oil prices early in 2008 and lagging wholesale price realizations .', 'our retail marketing gross margin for gasoline and distillates , which is the difference between the ultimate price paid by consumers and the cost of refined products , including secondary transportation and consumer excise taxes , also impacts rm&t segment profitability .', 'while on average demand has been increasing for several years , there are numerous factors including local competition , seasonal demand fluctuations , the available wholesale supply , the level of economic activity in our marketing areas and weather conditions that impact gasoline and distillate demand throughout the year .', 'in 2008 , demand began to drop due to the combination of significant increases in retail petroleum prices and a broad slowdown in general activity .', 'the gross margin on merchandise sold at retail outlets has historically been more constant .', 'the profitability of our pipeline transportation operations is primarily dependent on the volumes shipped through our crude oil and refined products pipelines .', 'the volume of crude oil that we transport is directly affected by the supply of , and refiner demand for , crude oil in the markets served directly by our crude oil pipelines .', 'key factors in this supply and demand balance are the production levels of crude oil by producers , the availability and cost of alternative modes of transportation , and refinery and transportation system maintenance levels .', 'the volume of refined products that we transport is directly affected by the production levels of , and user demand for , refined products in the markets served by our refined product pipelines .', 'in most of our markets , demand for gasoline peaks during the summer and declines during the fall and winter months , whereas distillate demand is more ratable throughout the year .', 'as with crude oil , other transportation alternatives and system maintenance levels influence refined product movements .', 'integrated gas our integrated gas strategy is to link stranded natural gas resources with areas where a supply gap is emerging due to declining production and growing demand .', 'our integrated gas operations include marketing and transportation of products manufactured from natural gas , such as lng and methanol , primarily in the u.s. , europe and west africa .', 'our most significant lng investment is our 60 percent ownership in a production facility in equatorial guinea , which sells lng under a long-term contract at prices tied to henry hub natural gas prices .', 'in 2008 , its .'] | 1.32 | MRO/2008/page_70.pdf-4 | ['our refining and wholesale marketing gross margin is the difference between the prices of refined products sold and the costs of crude oil and other charge and blendstocks refined , including the costs to transport these inputs to our refineries , the costs of purchased products and manufacturing expenses , including depreciation .', 'the crack spread is a measure of the difference between market prices for refined products and crude oil , commonly used by the industry as an indicator of the impact of price on the refining margin .', 'crack spreads can fluctuate significantly , particularly when prices of refined products do not move in the same relationship as the cost of crude oil .', 'as a performance benchmark and a comparison with other industry participants , we calculate midwest ( chicago ) and u.s .', 'gulf coast crack spreads that we feel most closely track our operations and slate of products .', 'posted light louisiana sweet ( 201clls 201d ) prices and a 6-3-2-1 ratio of products ( 6 barrels of crude oil producing 3 barrels of gasoline , 2 barrels of distillate and 1 barrel of residual fuel ) are used for the crack spread calculation .', 'the following table lists calculated average crack spreads by quarter for the midwest ( chicago ) and gulf coast markets in 2008 .', 'crack spreads ( dollars per barrel ) 1st qtr 2nd qtr 3rd qtr 4th qtr 2008 .'] | ['in addition to the market changes indicated by the crack spreads , our refining and wholesale marketing gross margin is impacted by factors such as the types of crude oil and other charge and blendstocks processed , the selling prices realized for refined products , the impact of commodity derivative instruments used to mitigate price risk and the cost of purchased products for resale .', 'we process significant amounts of sour crude oil which can enhance our profitability compared to certain of our competitors , as sour crude oil typically can be purchased at a discount to sweet crude oil .', 'finally , our refining and wholesale marketing gross margin is impacted by changes in manufacturing costs , which are primarily driven by the level of maintenance activities at the refineries and the price of purchased natural gas used for plant fuel .', 'our 2008 refining and wholesale marketing gross margin was the key driver of the 43 percent decrease in rm&t segment income when compared to 2007 .', 'our average refining and wholesale marketing gross margin per gallon decreased 37 percent , to 11.66 cents in 2008 from 18.48 cents in 2007 , primarily due to the significant and rapid increases in crude oil prices early in 2008 and lagging wholesale price realizations .', 'our retail marketing gross margin for gasoline and distillates , which is the difference between the ultimate price paid by consumers and the cost of refined products , including secondary transportation and consumer excise taxes , also impacts rm&t segment profitability .', 'while on average demand has been increasing for several years , there are numerous factors including local competition , seasonal demand fluctuations , the available wholesale supply , the level of economic activity in our marketing areas and weather conditions that impact gasoline and distillate demand throughout the year .', 'in 2008 , demand began to drop due to the combination of significant increases in retail petroleum prices and a broad slowdown in general activity .', 'the gross margin on merchandise sold at retail outlets has historically been more constant .', 'the profitability of our pipeline transportation operations is primarily dependent on the volumes shipped through our crude oil and refined products pipelines .', 'the volume of crude oil that we transport is directly affected by the supply of , and refiner demand for , crude oil in the markets served directly by our crude oil pipelines .', 'key factors in this supply and demand balance are the production levels of crude oil by producers , the availability and cost of alternative modes of transportation , and refinery and transportation system maintenance levels .', 'the volume of refined products that we transport is directly affected by the production levels of , and user demand for , refined products in the markets served by our refined product pipelines .', 'in most of our markets , demand for gasoline peaks during the summer and declines during the fall and winter months , whereas distillate demand is more ratable throughout the year .', 'as with crude oil , other transportation alternatives and system maintenance levels influence refined product movements .', 'integrated gas our integrated gas strategy is to link stranded natural gas resources with areas where a supply gap is emerging due to declining production and growing demand .', 'our integrated gas operations include marketing and transportation of products manufactured from natural gas , such as lng and methanol , primarily in the u.s. , europe and west africa .', 'our most significant lng investment is our 60 percent ownership in a production facility in equatorial guinea , which sells lng under a long-term contract at prices tied to henry hub natural gas prices .', 'in 2008 , its .'] | crack spreads ( dollars per barrel ) | 1st qtr | 2nd qtr | 3rd qtr | 4th qtr | 2008
----------|----------|----------|----------|----------|----------
chicago lls 6-3-2-1 | $ 0.07 | $ 2.71 | $ 7.81 | $ 2.31 | $ 3.27
us gulf coast lls 6-3-2-1 | $ 1.39 | $ 1.99 | $ 6.32 | ( $ 0.01 ) | $ 2.45 | subtract(1.39, 0.07) | 1.32 |
what portion of the future minimum lease payments for entergy louisiana will be used for interest payments? | Background: ['entergy corporation and subsidiaries notes to financial statements computed on a rolling 12 month basis .', 'as of december 31 , 2008 , entergy louisiana was in compliance with these provisions .', 'as of december 31 , 2008 , entergy louisiana had future minimum lease payments ( reflecting an overall implicit rate of 7.45% ( 7.45 % ) ) in connection with the waterford 3 sale and leaseback transactions , which are recorded as long-term debt , as follows : amount ( in thousands ) .']
Data Table:
========================================
| amount ( in thousands )
----------|----------
2009 | $ 32452
2010 | 35138
2011 | 50421
2012 | 39067
2013 | 26301
years thereafter | 137858
total | 321237
less : amount representing interest | 73512
present value of net minimum lease payments | $ 247725
========================================
Follow-up: ['grand gulf lease obligations in december 1988 , in two separate but substantially identical transactions , system energy sold and leased back undivided ownership interests in grand gulf for the aggregate sum of $ 500 million .', 'the interests represent approximately 11.5% ( 11.5 % ) of grand gulf .', 'the leases expire in 2015 .', 'under certain circumstances , system entergy may repurchase the leased interests prior to the end of the term of the leases .', 'at the end of the lease terms , system energy has the option to repurchase the leased interests in grand gulf at fair market value or to renew the leases for either fair market value or , under certain conditions , a fixed rate .', 'in may 2004 , system energy caused the grand gulf lessors to refinance the outstanding bonds that they had issued to finance the purchase of their undivided interest in grand gulf .', "the refinancing is at a lower interest rate , and system energy's lease payments have been reduced to reflect the lower interest costs .", 'system energy is required to report the sale-leaseback as a financing transaction in its financial statements .', 'for financial reporting purposes , system energy expenses the interest portion of the lease obligation and the plant depreciation .', 'however , operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes .', 'consistent with a recommendation contained in a ferc audit report , system energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis , resulting in a zero net balance for the regulatory asset at the end of the lease term .', 'the amount of this net regulatory asset was $ 19.2 million and $ 36.6 million as of december 31 , 2008 and 2007 , respectively. .'] | 0.22884 | ETR/2008/page_153.pdf-1 | ['entergy corporation and subsidiaries notes to financial statements computed on a rolling 12 month basis .', 'as of december 31 , 2008 , entergy louisiana was in compliance with these provisions .', 'as of december 31 , 2008 , entergy louisiana had future minimum lease payments ( reflecting an overall implicit rate of 7.45% ( 7.45 % ) ) in connection with the waterford 3 sale and leaseback transactions , which are recorded as long-term debt , as follows : amount ( in thousands ) .'] | ['grand gulf lease obligations in december 1988 , in two separate but substantially identical transactions , system energy sold and leased back undivided ownership interests in grand gulf for the aggregate sum of $ 500 million .', 'the interests represent approximately 11.5% ( 11.5 % ) of grand gulf .', 'the leases expire in 2015 .', 'under certain circumstances , system entergy may repurchase the leased interests prior to the end of the term of the leases .', 'at the end of the lease terms , system energy has the option to repurchase the leased interests in grand gulf at fair market value or to renew the leases for either fair market value or , under certain conditions , a fixed rate .', 'in may 2004 , system energy caused the grand gulf lessors to refinance the outstanding bonds that they had issued to finance the purchase of their undivided interest in grand gulf .', "the refinancing is at a lower interest rate , and system energy's lease payments have been reduced to reflect the lower interest costs .", 'system energy is required to report the sale-leaseback as a financing transaction in its financial statements .', 'for financial reporting purposes , system energy expenses the interest portion of the lease obligation and the plant depreciation .', 'however , operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes .', 'consistent with a recommendation contained in a ferc audit report , system energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis , resulting in a zero net balance for the regulatory asset at the end of the lease term .', 'the amount of this net regulatory asset was $ 19.2 million and $ 36.6 million as of december 31 , 2008 and 2007 , respectively. .'] | ========================================
| amount ( in thousands )
----------|----------
2009 | $ 32452
2010 | 35138
2011 | 50421
2012 | 39067
2013 | 26301
years thereafter | 137858
total | 321237
less : amount representing interest | 73512
present value of net minimum lease payments | $ 247725
======================================== | divide(73512, 321237) | 0.22884 |
by how much did proved bitumen reserves decrease during 2008? | Pre-text: ['proved reserves can be added as expansions are permitted , funding is approved and certain stipulations of the joint venture agreement are satisfied .', 'the following table sets forth changes in estimated quantities of net proved bitumen reserves for the year 2008 .', 'estimated quantities of proved bitumen reserves ( millions of barrels ) 2008 .']
Table:
----------------------------------------
( millions of barrels ) | 2008
----------|----------
beginning of year | 421
revisions ( a ) | -30 ( 30 )
extensions discoveries and additions | 6
production | -9 ( 9 )
end of year | 388
----------------------------------------
Additional Information: ['( a ) revisions were driven primarily by price and the impact of the new royalty regime discussed below .', 'the above estimated quantity of net proved bitumen reserves is a forward-looking statement and is based on a number of assumptions , including ( among others ) commodity prices , volumes in-place , presently known physical data , recoverability of bitumen , industry economic conditions , levels of cash flow from operations , and other operating considerations .', 'to the extent these assumptions prove inaccurate , actual recoveries could be different than current estimates .', 'for a discussion of the proved bitumen reserves estimation process , see item 7 .', 'management 2019s discussion and analysis of financial condition and results of operations 2013 critical accounting estimates 2013 estimated net recoverable reserve quantities 2013 proved bitumen reserves .', 'operations at the aosp are not within the scope of statement of financial accounting standards ( 201csfas 201d ) no .', '25 , 201csuspension of certain accounting requirements for oil and gas producing companies ( an amendment of financial accounting standards board ( 201cfasb 201d ) statement no .', '19 ) , 201d sfas no .', '69 , 201cdisclosures about oil and gas producing activities ( an amendment of fasb statements 19 , 25 , 33 and 39 ) , 201d and securities and exchange commission ( 201csec 201d ) rule 4-10 of regulation s-x ; therefore , bitumen production and reserves are not included in our supplementary information on oil and gas producing activities .', 'the sec has recently issued a release amending these disclosure requirements effective for annual reports on form 10-k for fiscal years ending on or after december 31 , 2009 , see item 7 .', 'management 2019s discussion and analysis of financial condition and results of operations 2013 accounting standards not yet adopted for additional information .', 'prior to our acquisition of western , the first fully-integrated expansion of the existing aosp facilities was approved in 2006 .', 'expansion 1 , which includes construction of mining and extraction facilities at the jackpine mine , expansion of treatment facilities at the existing muskeg river mine , expansion of the scotford upgrader and development of related infrastructure , is anticipated to begin operations in late 2010 or 2011 .', 'when expansion 1 is complete , we will have more than 50000 bpd of net production and upgrading capacity in the canadian oil sands .', 'the timing and scope of future expansions and debottlenecking opportunities on existing operations remain under review .', 'during 2008 , the alberta government accepted the project 2019s application to have a portion of the expansion 1 capital costs form part of the muskeg river mine 2019s allowable cost recovery pool .', 'due to commodity price declines in the year , royalties for 2008 were one percent of the gross mine revenue .', 'commencing january 1 , 2009 , the alberta royalty regime has been amended such that royalty rates will be based on the canadian dollar ( 201ccad 201d ) equivalent monthly average west texas intermediate ( 201cwti 201d ) price .', 'royalty rates will rise from a minimum of one percent to a maximum of nine percent under the gross revenue method and from a minimum of 25 percent to a maximum of 40 percent under the net revenue method .', 'under both methods , the minimum royalty is based on a wti price of $ 55.00 cad per barrel and below while the maximum royalty is reached at a wti price of $ 120.00 cad per barrel and above , with a linear increase in royalty between the aforementioned prices .', 'the above discussion of the oil sands mining segment includes forward-looking statements concerning the anticipated completion of aosp expansion 1 .', 'factors which could affect the expansion project include transportation logistics , availability of materials and labor , unforeseen hazards such as weather conditions , delays in obtaining or conditions imposed by necessary government and third-party approvals and other risks customarily associated with construction projects .', 'refining , marketing and transportation refining we own and operate seven refineries in the gulf coast , midwest and upper great plains regions of the united states with an aggregate refining capacity of 1.016 million barrels per day ( 201cmmbpd 201d ) of crude oil .', 'during 2008 .'] | -0.07838 | MRO/2008/page_41.pdf-1 | ['proved reserves can be added as expansions are permitted , funding is approved and certain stipulations of the joint venture agreement are satisfied .', 'the following table sets forth changes in estimated quantities of net proved bitumen reserves for the year 2008 .', 'estimated quantities of proved bitumen reserves ( millions of barrels ) 2008 .'] | ['( a ) revisions were driven primarily by price and the impact of the new royalty regime discussed below .', 'the above estimated quantity of net proved bitumen reserves is a forward-looking statement and is based on a number of assumptions , including ( among others ) commodity prices , volumes in-place , presently known physical data , recoverability of bitumen , industry economic conditions , levels of cash flow from operations , and other operating considerations .', 'to the extent these assumptions prove inaccurate , actual recoveries could be different than current estimates .', 'for a discussion of the proved bitumen reserves estimation process , see item 7 .', 'management 2019s discussion and analysis of financial condition and results of operations 2013 critical accounting estimates 2013 estimated net recoverable reserve quantities 2013 proved bitumen reserves .', 'operations at the aosp are not within the scope of statement of financial accounting standards ( 201csfas 201d ) no .', '25 , 201csuspension of certain accounting requirements for oil and gas producing companies ( an amendment of financial accounting standards board ( 201cfasb 201d ) statement no .', '19 ) , 201d sfas no .', '69 , 201cdisclosures about oil and gas producing activities ( an amendment of fasb statements 19 , 25 , 33 and 39 ) , 201d and securities and exchange commission ( 201csec 201d ) rule 4-10 of regulation s-x ; therefore , bitumen production and reserves are not included in our supplementary information on oil and gas producing activities .', 'the sec has recently issued a release amending these disclosure requirements effective for annual reports on form 10-k for fiscal years ending on or after december 31 , 2009 , see item 7 .', 'management 2019s discussion and analysis of financial condition and results of operations 2013 accounting standards not yet adopted for additional information .', 'prior to our acquisition of western , the first fully-integrated expansion of the existing aosp facilities was approved in 2006 .', 'expansion 1 , which includes construction of mining and extraction facilities at the jackpine mine , expansion of treatment facilities at the existing muskeg river mine , expansion of the scotford upgrader and development of related infrastructure , is anticipated to begin operations in late 2010 or 2011 .', 'when expansion 1 is complete , we will have more than 50000 bpd of net production and upgrading capacity in the canadian oil sands .', 'the timing and scope of future expansions and debottlenecking opportunities on existing operations remain under review .', 'during 2008 , the alberta government accepted the project 2019s application to have a portion of the expansion 1 capital costs form part of the muskeg river mine 2019s allowable cost recovery pool .', 'due to commodity price declines in the year , royalties for 2008 were one percent of the gross mine revenue .', 'commencing january 1 , 2009 , the alberta royalty regime has been amended such that royalty rates will be based on the canadian dollar ( 201ccad 201d ) equivalent monthly average west texas intermediate ( 201cwti 201d ) price .', 'royalty rates will rise from a minimum of one percent to a maximum of nine percent under the gross revenue method and from a minimum of 25 percent to a maximum of 40 percent under the net revenue method .', 'under both methods , the minimum royalty is based on a wti price of $ 55.00 cad per barrel and below while the maximum royalty is reached at a wti price of $ 120.00 cad per barrel and above , with a linear increase in royalty between the aforementioned prices .', 'the above discussion of the oil sands mining segment includes forward-looking statements concerning the anticipated completion of aosp expansion 1 .', 'factors which could affect the expansion project include transportation logistics , availability of materials and labor , unforeseen hazards such as weather conditions , delays in obtaining or conditions imposed by necessary government and third-party approvals and other risks customarily associated with construction projects .', 'refining , marketing and transportation refining we own and operate seven refineries in the gulf coast , midwest and upper great plains regions of the united states with an aggregate refining capacity of 1.016 million barrels per day ( 201cmmbpd 201d ) of crude oil .', 'during 2008 .'] | ----------------------------------------
( millions of barrels ) | 2008
----------|----------
beginning of year | 421
revisions ( a ) | -30 ( 30 )
extensions discoveries and additions | 6
production | -9 ( 9 )
end of year | 388
---------------------------------------- | subtract(388, 421), divide(#0, 421) | -0.07838 |
what was the two year average for net interest income , in millions? | Pre-text: ['consolidated income statement review our consolidated income statement is presented in item 8 of this report .', 'net income for 2012 was $ 3.0 billion compared with $ 3.1 billion for 2011 .', 'revenue growth of 8 percent and a decline in the provision for credit losses were more than offset by a 16 percent increase in noninterest expense in 2012 compared to 2011 .', 'further detail is included in the net interest income , noninterest income , provision for credit losses and noninterest expense portions of this consolidated income statement review .', 'net interest income table 2 : net interest income and net interest margin year ended december 31 dollars in millions 2012 2011 .']
######
Table:
----------------------------------------
year ended december 31dollars in millions 2012 2011
net interest income $ 9640 $ 8700
net interest margin 3.94% ( 3.94 % ) 3.92% ( 3.92 % )
----------------------------------------
######
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 the statistical information ( unaudited ) 2013 average consolidated balance sheet and net interest analysis and analysis of year-to-year changes in net interest income in item 8 of this report and the discussion of purchase accounting accretion of purchased impaired loans in the consolidated balance sheet review in this item 7 for additional information .', 'the increase in net interest income in 2012 compared with 2011 was primarily due to the impact of the rbc bank ( usa ) acquisition , organic loan growth and lower funding costs .', 'purchase accounting accretion remained stable at $ 1.1 billion in both periods .', 'the net interest margin was 3.94% ( 3.94 % ) for 2012 and 3.92% ( 3.92 % ) for 2011 .', 'the increase in the comparison was primarily due to a decrease in the weighted-average rate accrued on total interest- bearing liabilities of 29 basis points , largely offset by a 21 basis point decrease on the yield on total interest-earning assets .', 'the decrease in the rate on interest-bearing liabilities was primarily due to the runoff of maturing retail certificates of deposit and the redemption of additional trust preferred and hybrid capital securities during 2012 , in addition to an increase in fhlb borrowings and commercial paper as lower-cost funding sources .', 'the decrease in the yield on interest-earning assets was primarily due to lower rates on new loan volume and lower yields on new securities in the current low rate environment .', 'with respect to the first quarter of 2013 , we expect net interest income to decline by two to three percent compared to fourth quarter 2012 net interest income of $ 2.4 billion , due to a decrease in purchase accounting accretion of up to $ 50 to $ 60 million , including lower expected cash recoveries .', 'for the full year 2013 , we expect net interest income to decrease compared with 2012 , assuming an expected decline in purchase accounting accretion of approximately $ 400 million , while core net interest income is expected to increase in the year-over-year comparison .', 'we believe our net interest margin will come under pressure in 2013 , due to the expected decline in purchase accounting accretion and assuming that the current low rate environment continues .', 'noninterest income noninterest income totaled $ 5.9 billion for 2012 and $ 5.6 billion for 2011 .', 'the overall increase in the comparison was primarily due to an increase in residential mortgage loan sales revenue driven by higher loan origination volume , gains on sales of visa class b common shares and higher corporate service fees , largely offset by higher provision for residential mortgage repurchase obligations .', 'asset management revenue , including blackrock , totaled $ 1.2 billion in 2012 compared with $ 1.1 billion in 2011 .', 'this increase was primarily due to higher earnings from our blackrock investment .', 'discretionary assets under management increased to $ 112 billion at december 31 , 2012 compared with $ 107 billion at december 31 , 2011 driven by stronger average equity markets , positive net flows and strong sales performance .', 'for 2012 , consumer services fees were $ 1.1 billion compared with $ 1.2 billion in 2011 .', 'the decline reflected the regulatory impact of lower interchange fees on debit card transactions partially offset by customer growth .', 'as further discussed in the retail banking portion of the business segments review section of this item 7 , the dodd-frank limits on interchange rates were effective october 1 , 2011 and had a negative impact on revenue of approximately $ 314 million in 2012 and $ 75 million in 2011 .', 'this impact was partially offset by higher volumes of merchant , customer credit card and debit card transactions and the impact of the rbc bank ( usa ) acquisition .', 'corporate services revenue increased by $ .3 billion , or 30 percent , to $ 1.2 billion in 2012 compared with $ .9 billion in 2011 due to higher commercial mortgage servicing revenue and higher merger and acquisition advisory fees in 2012 .', 'the major components of corporate services revenue are treasury management revenue , corporate finance fees , including revenue from capital markets-related products and services , and commercial mortgage servicing revenue , including commercial mortgage banking activities .', 'see the product revenue portion of this consolidated income statement review for further detail .', 'the pnc financial services group , inc .', '2013 form 10-k 39 .'] | 9170.0 | PNC/2012/page_58.pdf-3 | ['consolidated income statement review our consolidated income statement is presented in item 8 of this report .', 'net income for 2012 was $ 3.0 billion compared with $ 3.1 billion for 2011 .', 'revenue growth of 8 percent and a decline in the provision for credit losses were more than offset by a 16 percent increase in noninterest expense in 2012 compared to 2011 .', 'further detail is included in the net interest income , noninterest income , provision for credit losses and noninterest expense portions of this consolidated income statement review .', 'net interest income table 2 : net interest income and net interest margin year ended december 31 dollars in millions 2012 2011 .'] | ['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 the statistical information ( unaudited ) 2013 average consolidated balance sheet and net interest analysis and analysis of year-to-year changes in net interest income in item 8 of this report and the discussion of purchase accounting accretion of purchased impaired loans in the consolidated balance sheet review in this item 7 for additional information .', 'the increase in net interest income in 2012 compared with 2011 was primarily due to the impact of the rbc bank ( usa ) acquisition , organic loan growth and lower funding costs .', 'purchase accounting accretion remained stable at $ 1.1 billion in both periods .', 'the net interest margin was 3.94% ( 3.94 % ) for 2012 and 3.92% ( 3.92 % ) for 2011 .', 'the increase in the comparison was primarily due to a decrease in the weighted-average rate accrued on total interest- bearing liabilities of 29 basis points , largely offset by a 21 basis point decrease on the yield on total interest-earning assets .', 'the decrease in the rate on interest-bearing liabilities was primarily due to the runoff of maturing retail certificates of deposit and the redemption of additional trust preferred and hybrid capital securities during 2012 , in addition to an increase in fhlb borrowings and commercial paper as lower-cost funding sources .', 'the decrease in the yield on interest-earning assets was primarily due to lower rates on new loan volume and lower yields on new securities in the current low rate environment .', 'with respect to the first quarter of 2013 , we expect net interest income to decline by two to three percent compared to fourth quarter 2012 net interest income of $ 2.4 billion , due to a decrease in purchase accounting accretion of up to $ 50 to $ 60 million , including lower expected cash recoveries .', 'for the full year 2013 , we expect net interest income to decrease compared with 2012 , assuming an expected decline in purchase accounting accretion of approximately $ 400 million , while core net interest income is expected to increase in the year-over-year comparison .', 'we believe our net interest margin will come under pressure in 2013 , due to the expected decline in purchase accounting accretion and assuming that the current low rate environment continues .', 'noninterest income noninterest income totaled $ 5.9 billion for 2012 and $ 5.6 billion for 2011 .', 'the overall increase in the comparison was primarily due to an increase in residential mortgage loan sales revenue driven by higher loan origination volume , gains on sales of visa class b common shares and higher corporate service fees , largely offset by higher provision for residential mortgage repurchase obligations .', 'asset management revenue , including blackrock , totaled $ 1.2 billion in 2012 compared with $ 1.1 billion in 2011 .', 'this increase was primarily due to higher earnings from our blackrock investment .', 'discretionary assets under management increased to $ 112 billion at december 31 , 2012 compared with $ 107 billion at december 31 , 2011 driven by stronger average equity markets , positive net flows and strong sales performance .', 'for 2012 , consumer services fees were $ 1.1 billion compared with $ 1.2 billion in 2011 .', 'the decline reflected the regulatory impact of lower interchange fees on debit card transactions partially offset by customer growth .', 'as further discussed in the retail banking portion of the business segments review section of this item 7 , the dodd-frank limits on interchange rates were effective october 1 , 2011 and had a negative impact on revenue of approximately $ 314 million in 2012 and $ 75 million in 2011 .', 'this impact was partially offset by higher volumes of merchant , customer credit card and debit card transactions and the impact of the rbc bank ( usa ) acquisition .', 'corporate services revenue increased by $ .3 billion , or 30 percent , to $ 1.2 billion in 2012 compared with $ .9 billion in 2011 due to higher commercial mortgage servicing revenue and higher merger and acquisition advisory fees in 2012 .', 'the major components of corporate services revenue are treasury management revenue , corporate finance fees , including revenue from capital markets-related products and services , and commercial mortgage servicing revenue , including commercial mortgage banking activities .', 'see the product revenue portion of this consolidated income statement review for further detail .', 'the pnc financial services group , inc .', '2013 form 10-k 39 .'] | ----------------------------------------
year ended december 31dollars in millions 2012 2011
net interest income $ 9640 $ 8700
net interest margin 3.94% ( 3.94 % ) 3.92% ( 3.92 % )
---------------------------------------- | add(9640, 8700), divide(#0, 2) | 9170.0 |
what was the average net sales in millions for aeronautics from 2001 to 2013? | Pre-text: ['aeronautics our aeronautics business segment is engaged in the research , design , development , manufacture , integration , sustainment , support , and upgrade of advanced military aircraft , including combat and air mobility aircraft , unmanned air vehicles , and related technologies .', 'aeronautics 2019 major programs include the f-35 lightning ii joint strike fighter , c-130 hercules , f-16 fighting falcon , f-22 raptor , and the c-5m super galaxy .', 'aeronautics 2019 operating results included the following ( in millions ) : .']
----
Tabular Data:
, 2013, 2012, 2011
net sales, $ 14123, $ 14953, $ 14362
operating profit, 1612, 1699, 1630
operating margins, 11.4% ( 11.4 % ), 11.4% ( 11.4 % ), 11.3% ( 11.3 % )
backlog at year-end, 28000, 30100, 30500
----
Post-table: ['2013 compared to 2012 aeronautics 2019 net sales for 2013 decreased $ 830 million , or 6% ( 6 % ) , compared to 2012 .', 'the decrease was primarily attributable to lower net sales of approximately $ 530 million for the f-16 program due to fewer aircraft deliveries ( 13 aircraft delivered in 2013 compared to 37 delivered in 2012 ) partially offset by aircraft configuration mix ; about $ 385 million for the c-130 program due to fewer aircraft deliveries ( 25 aircraft delivered in 2013 compared to 34 in 2012 ) partially offset by increased sustainment activities ; approximately $ 255 million for the f-22 program , which includes about $ 205 million due to decreased production volume as final aircraft deliveries were completed during the second quarter of 2012 and $ 50 million from the favorable resolution of a contractual matter during the second quarter of 2012 ; and about $ 270 million for various other programs ( primarily sustainment activities ) due to decreased volume .', 'the decreases were partially offset by higher net sales of about $ 295 million for f-35 production contracts due to increased production volume and risk retirements ; approximately $ 245 million for the c-5 program due to increased aircraft deliveries ( six aircraft delivered in 2013 compared to four in 2012 ) and other modernization activities ; and about $ 70 million for the f-35 development contract due to increased volume .', 'aeronautics 2019 operating profit for 2013 decreased $ 87 million , or 5% ( 5 % ) , compared to 2012 .', 'the decrease was primarily attributable to lower operating profit of about $ 85 million for the f-22 program , which includes approximately $ 50 million from the favorable resolution of a contractual matter in the second quarter of 2012 and about $ 35 million due to decreased risk retirements and production volume ; approximately $ 70 million for the c-130 program due to lower risk retirements and fewer deliveries partially offset by increased sustainment activities ; about $ 65 million for the c-5 program due to the inception-to-date effect of reducing the profit booking rate in the third quarter of 2013 and lower risk retirements ; approximately $ 35 million for the f-16 program due to fewer aircraft deliveries partially offset by increased sustainment activity and aircraft configuration mix .', 'the decreases were partially offset by higher operating profit of approximately $ 180 million for f-35 production contracts due to increased risk retirements and volume .', 'operating profit was comparable for the f-35 development contract and included adjustments of approximately $ 85 million to reflect the inception-to-date impacts of the downward revisions to the profit booking rate in both 2013 and 2012 .', 'adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 75 million lower for 2013 compared to 2012 compared to 2011 aeronautics 2019 net sales for 2012 increased $ 591 million , or 4% ( 4 % ) , compared to 2011 .', 'the increase was attributable to higher net sales of approximately $ 745 million from f-35 production contracts principally due to increased production volume ; about $ 285 million from f-16 programs primarily due to higher aircraft deliveries ( 37 f-16 aircraft delivered in 2012 compared to 22 in 2011 ) partially offset by lower volume on sustainment activities due to the completion of modification programs for certain international customers ; and approximately $ 140 million from c-5 programs due to higher aircraft deliveries ( four c-5m aircraft delivered in 2012 compared to two in 2011 ) .', 'partially offsetting the increases were lower net sales of approximately $ 365 million from decreased production volume and lower risk retirements on the f-22 program as final aircraft deliveries were completed in the second quarter of 2012 ; approximately $ 110 million from the f-35 development contract primarily due to the inception-to-date effect of reducing the profit booking rate in the second quarter of 2012 and to a lesser extent lower volume ; and about $ 95 million from a decrease in volume on other sustainment activities partially offset by various other aeronautics programs due to higher volume .', 'net sales for c-130 programs were comparable to 2011 as a decline in sustainment activities largely was offset by increased aircraft deliveries. .'] | 14479.33333 | LMT/2013/page_44.pdf-1 | ['aeronautics our aeronautics business segment is engaged in the research , design , development , manufacture , integration , sustainment , support , and upgrade of advanced military aircraft , including combat and air mobility aircraft , unmanned air vehicles , and related technologies .', 'aeronautics 2019 major programs include the f-35 lightning ii joint strike fighter , c-130 hercules , f-16 fighting falcon , f-22 raptor , and the c-5m super galaxy .', 'aeronautics 2019 operating results included the following ( in millions ) : .'] | ['2013 compared to 2012 aeronautics 2019 net sales for 2013 decreased $ 830 million , or 6% ( 6 % ) , compared to 2012 .', 'the decrease was primarily attributable to lower net sales of approximately $ 530 million for the f-16 program due to fewer aircraft deliveries ( 13 aircraft delivered in 2013 compared to 37 delivered in 2012 ) partially offset by aircraft configuration mix ; about $ 385 million for the c-130 program due to fewer aircraft deliveries ( 25 aircraft delivered in 2013 compared to 34 in 2012 ) partially offset by increased sustainment activities ; approximately $ 255 million for the f-22 program , which includes about $ 205 million due to decreased production volume as final aircraft deliveries were completed during the second quarter of 2012 and $ 50 million from the favorable resolution of a contractual matter during the second quarter of 2012 ; and about $ 270 million for various other programs ( primarily sustainment activities ) due to decreased volume .', 'the decreases were partially offset by higher net sales of about $ 295 million for f-35 production contracts due to increased production volume and risk retirements ; approximately $ 245 million for the c-5 program due to increased aircraft deliveries ( six aircraft delivered in 2013 compared to four in 2012 ) and other modernization activities ; and about $ 70 million for the f-35 development contract due to increased volume .', 'aeronautics 2019 operating profit for 2013 decreased $ 87 million , or 5% ( 5 % ) , compared to 2012 .', 'the decrease was primarily attributable to lower operating profit of about $ 85 million for the f-22 program , which includes approximately $ 50 million from the favorable resolution of a contractual matter in the second quarter of 2012 and about $ 35 million due to decreased risk retirements and production volume ; approximately $ 70 million for the c-130 program due to lower risk retirements and fewer deliveries partially offset by increased sustainment activities ; about $ 65 million for the c-5 program due to the inception-to-date effect of reducing the profit booking rate in the third quarter of 2013 and lower risk retirements ; approximately $ 35 million for the f-16 program due to fewer aircraft deliveries partially offset by increased sustainment activity and aircraft configuration mix .', 'the decreases were partially offset by higher operating profit of approximately $ 180 million for f-35 production contracts due to increased risk retirements and volume .', 'operating profit was comparable for the f-35 development contract and included adjustments of approximately $ 85 million to reflect the inception-to-date impacts of the downward revisions to the profit booking rate in both 2013 and 2012 .', 'adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 75 million lower for 2013 compared to 2012 compared to 2011 aeronautics 2019 net sales for 2012 increased $ 591 million , or 4% ( 4 % ) , compared to 2011 .', 'the increase was attributable to higher net sales of approximately $ 745 million from f-35 production contracts principally due to increased production volume ; about $ 285 million from f-16 programs primarily due to higher aircraft deliveries ( 37 f-16 aircraft delivered in 2012 compared to 22 in 2011 ) partially offset by lower volume on sustainment activities due to the completion of modification programs for certain international customers ; and approximately $ 140 million from c-5 programs due to higher aircraft deliveries ( four c-5m aircraft delivered in 2012 compared to two in 2011 ) .', 'partially offsetting the increases were lower net sales of approximately $ 365 million from decreased production volume and lower risk retirements on the f-22 program as final aircraft deliveries were completed in the second quarter of 2012 ; approximately $ 110 million from the f-35 development contract primarily due to the inception-to-date effect of reducing the profit booking rate in the second quarter of 2012 and to a lesser extent lower volume ; and about $ 95 million from a decrease in volume on other sustainment activities partially offset by various other aeronautics programs due to higher volume .', 'net sales for c-130 programs were comparable to 2011 as a decline in sustainment activities largely was offset by increased aircraft deliveries. .'] | , 2013, 2012, 2011
net sales, $ 14123, $ 14953, $ 14362
operating profit, 1612, 1699, 1630
operating margins, 11.4% ( 11.4 % ), 11.4% ( 11.4 % ), 11.3% ( 11.3 % )
backlog at year-end, 28000, 30100, 30500 | table_average(net sales, none) | 14479.33333 |
what percentage has liquidity dropped from 2012 to 2013? | Background: ['management 2019s discussion and analysis of financial condition and results of operations 2013 ( continued ) ( amounts in millions , except per share amounts ) net cash used in investing activities during 2012 primarily related to payments for capital expenditures and acquisitions , partially offset by the net proceeds of $ 94.8 received from the sale of our remaining holdings in facebook .', 'capital expenditures of $ 169.2 primarily related to computer hardware and software , and leasehold improvements .', 'capital expenditures increased in 2012 compared to the prior year , primarily due to an increase in leasehold improvements made during the year .', 'payments for acquisitions of $ 145.5 primarily related to payments for new acquisitions .', 'financing activities net cash used in financing activities during 2013 primarily related to the purchase of long-term debt , the repurchase of our common stock , and payment of dividends .', 'we redeemed all $ 600.0 in aggregate principal amount of our 10.00% ( 10.00 % ) notes .', 'in addition , we repurchased 31.8 shares of our common stock for an aggregate cost of $ 481.8 , including fees , and made dividend payments of $ 126.0 on our common stock .', 'net cash provided by financing activities during 2012 primarily reflected net proceeds from our debt transactions .', 'we issued $ 300.0 in aggregate principal amount of 2.25% ( 2.25 % ) senior notes due 2017 ( the 201c2.25% ( 201c2.25 % ) notes 201d ) , $ 500.0 in aggregate principal amount of 3.75% ( 3.75 % ) senior notes due 2023 ( the 201c3.75% ( 201c3.75 % ) notes 201d ) and $ 250.0 in aggregate principal amount of 4.00% ( 4.00 % ) senior notes due 2022 ( the 201c4.00% ( 201c4.00 % ) notes 201d ) .', 'the proceeds from the issuance of the 4.00% ( 4.00 % ) notes were applied towards the repurchase and redemption of $ 399.6 in aggregate principal amount of our 4.25% ( 4.25 % ) notes .', 'offsetting the net proceeds from our debt transactions was the repurchase of 32.7 shares of our common stock for an aggregate cost of $ 350.5 , including fees , and dividend payments of $ 103.4 on our common stock .', 'foreign exchange rate changes the effect of foreign exchange rate changes on cash and cash equivalents included in the consolidated statements of cash flows resulted in a decrease of $ 94.1 in 2013 .', 'the decrease was primarily a result of the u.s .', 'dollar being stronger than several foreign currencies , including the australian dollar , brazilian real , japanese yen , canadian dollar and south african rand as of december 31 , 2013 compared to december 31 , 2012 .', 'the effect of foreign exchange rate changes on cash and cash equivalents included in the consolidated statements of cash flows resulted in a decrease of $ 6.2 in 2012 .', 'the decrease was a result of the u.s .', 'dollar being stronger than several foreign currencies , including the brazilian real and south african rand , offset by the u.s .', 'dollar being weaker than other foreign currencies , including the australian dollar , british pound and the euro , as of as of december 31 , 2012 compared to december 31 , 2011. .']
##
Table:
balance sheet data | december 31 , 2013 | december 31 , 2012
cash cash equivalents and marketable securities | $ 1642.1 | $ 2590.8
short-term borrowings | $ 179.1 | $ 172.1
current portion of long-term debt | 353.6 | 216.6
long-term debt | 1129.8 | 2060.8
total debt | $ 1662.5 | $ 2449.5
##
Additional Information: ['liquidity outlook we expect our cash flow from operations , cash and cash equivalents to be sufficient to meet our anticipated operating requirements at a minimum for the next twelve months .', 'we also have a committed corporate credit facility as well as uncommitted facilities available to support our operating needs .', 'we continue to maintain a disciplined approach to managing liquidity , with flexibility over significant uses of cash , including our capital expenditures , cash used for new acquisitions , our common stock repurchase program and our common stock dividends. .'] | 0.63382 | IPG/2013/page_36.pdf-2 | ['management 2019s discussion and analysis of financial condition and results of operations 2013 ( continued ) ( amounts in millions , except per share amounts ) net cash used in investing activities during 2012 primarily related to payments for capital expenditures and acquisitions , partially offset by the net proceeds of $ 94.8 received from the sale of our remaining holdings in facebook .', 'capital expenditures of $ 169.2 primarily related to computer hardware and software , and leasehold improvements .', 'capital expenditures increased in 2012 compared to the prior year , primarily due to an increase in leasehold improvements made during the year .', 'payments for acquisitions of $ 145.5 primarily related to payments for new acquisitions .', 'financing activities net cash used in financing activities during 2013 primarily related to the purchase of long-term debt , the repurchase of our common stock , and payment of dividends .', 'we redeemed all $ 600.0 in aggregate principal amount of our 10.00% ( 10.00 % ) notes .', 'in addition , we repurchased 31.8 shares of our common stock for an aggregate cost of $ 481.8 , including fees , and made dividend payments of $ 126.0 on our common stock .', 'net cash provided by financing activities during 2012 primarily reflected net proceeds from our debt transactions .', 'we issued $ 300.0 in aggregate principal amount of 2.25% ( 2.25 % ) senior notes due 2017 ( the 201c2.25% ( 201c2.25 % ) notes 201d ) , $ 500.0 in aggregate principal amount of 3.75% ( 3.75 % ) senior notes due 2023 ( the 201c3.75% ( 201c3.75 % ) notes 201d ) and $ 250.0 in aggregate principal amount of 4.00% ( 4.00 % ) senior notes due 2022 ( the 201c4.00% ( 201c4.00 % ) notes 201d ) .', 'the proceeds from the issuance of the 4.00% ( 4.00 % ) notes were applied towards the repurchase and redemption of $ 399.6 in aggregate principal amount of our 4.25% ( 4.25 % ) notes .', 'offsetting the net proceeds from our debt transactions was the repurchase of 32.7 shares of our common stock for an aggregate cost of $ 350.5 , including fees , and dividend payments of $ 103.4 on our common stock .', 'foreign exchange rate changes the effect of foreign exchange rate changes on cash and cash equivalents included in the consolidated statements of cash flows resulted in a decrease of $ 94.1 in 2013 .', 'the decrease was primarily a result of the u.s .', 'dollar being stronger than several foreign currencies , including the australian dollar , brazilian real , japanese yen , canadian dollar and south african rand as of december 31 , 2013 compared to december 31 , 2012 .', 'the effect of foreign exchange rate changes on cash and cash equivalents included in the consolidated statements of cash flows resulted in a decrease of $ 6.2 in 2012 .', 'the decrease was a result of the u.s .', 'dollar being stronger than several foreign currencies , including the brazilian real and south african rand , offset by the u.s .', 'dollar being weaker than other foreign currencies , including the australian dollar , british pound and the euro , as of as of december 31 , 2012 compared to december 31 , 2011. .'] | ['liquidity outlook we expect our cash flow from operations , cash and cash equivalents to be sufficient to meet our anticipated operating requirements at a minimum for the next twelve months .', 'we also have a committed corporate credit facility as well as uncommitted facilities available to support our operating needs .', 'we continue to maintain a disciplined approach to managing liquidity , with flexibility over significant uses of cash , including our capital expenditures , cash used for new acquisitions , our common stock repurchase program and our common stock dividends. .'] | balance sheet data | december 31 , 2013 | december 31 , 2012
cash cash equivalents and marketable securities | $ 1642.1 | $ 2590.8
short-term borrowings | $ 179.1 | $ 172.1
current portion of long-term debt | 353.6 | 216.6
long-term debt | 1129.8 | 2060.8
total debt | $ 1662.5 | $ 2449.5 | divide(1642.1, 2590.8) | 0.63382 |
at december 31 , 2009 , what was the remaining compensation expense per share for the unvested awards? | Pre-text: ['changes in our performance retention awards during 2009 were as follows : shares ( thous. ) weighted-average grant-date fair value .']
########
Table:
========================================
• , shares ( thous. ), weighted-averagegrant-date fair value
• nonvested at january 1 2009, 873, $ 50.70
• granted, 449, 47.28
• vested, -240 ( 240 ), 43.23
• forfeited, -22 ( 22 ), 53.86
• nonvested at december 31 2009, 1060, $ 50.88
========================================
########
Follow-up: ['at december 31 , 2009 , there was $ 22 million of total unrecognized compensation expense related to nonvested performance retention awards , which is expected to be recognized over a weighted-average period of 1.3 years .', 'a portion of this expense is subject to achievement of the roic levels established for the performance stock unit grants .', '5 .', 'retirement plans pension and other postretirement benefits pension plans 2013 we provide defined benefit retirement income to eligible non-union employees through qualified and non-qualified ( supplemental ) pension plans .', 'qualified and non-qualified pension benefits are based on years of service and the highest compensation during the latest years of employment , with specific reductions made for early retirements .', 'other postretirement benefits ( opeb ) 2013 we provide defined contribution medical and life insurance benefits for eligible retirees .', 'these benefits are funded as medical claims and life insurance premiums are plan amendment effective january 1 , 2010 , medicare-eligible retirees who are enrolled in the union pacific retiree medical program will receive a contribution to a health reimbursement account , which can be used to pay eligible out-of-pocket medical expenses .', 'the impact of the plan amendment is reflected in the projected benefit obligation ( pbo ) at december 31 , 2009 .', 'funded status we are required by gaap to separately recognize the overfunded or underfunded status of our pension and opeb plans as an asset or liability .', 'the funded status represents the difference between the pbo and the fair value of the plan assets .', 'the pbo is the present value of benefits earned to date by plan participants , including the effect of assumed future salary increases .', 'the pbo of the opeb plan is equal to the accumulated benefit obligation , as the present value of the opeb liabilities is not affected by salary increases .', 'plan assets are measured at fair value .', 'we use a december 31 measurement date for plan assets and obligations for all our retirement plans. .'] | 20.75472 | UNP/2009/page_68.pdf-1 | ['changes in our performance retention awards during 2009 were as follows : shares ( thous. ) weighted-average grant-date fair value .'] | ['at december 31 , 2009 , there was $ 22 million of total unrecognized compensation expense related to nonvested performance retention awards , which is expected to be recognized over a weighted-average period of 1.3 years .', 'a portion of this expense is subject to achievement of the roic levels established for the performance stock unit grants .', '5 .', 'retirement plans pension and other postretirement benefits pension plans 2013 we provide defined benefit retirement income to eligible non-union employees through qualified and non-qualified ( supplemental ) pension plans .', 'qualified and non-qualified pension benefits are based on years of service and the highest compensation during the latest years of employment , with specific reductions made for early retirements .', 'other postretirement benefits ( opeb ) 2013 we provide defined contribution medical and life insurance benefits for eligible retirees .', 'these benefits are funded as medical claims and life insurance premiums are plan amendment effective january 1 , 2010 , medicare-eligible retirees who are enrolled in the union pacific retiree medical program will receive a contribution to a health reimbursement account , which can be used to pay eligible out-of-pocket medical expenses .', 'the impact of the plan amendment is reflected in the projected benefit obligation ( pbo ) at december 31 , 2009 .', 'funded status we are required by gaap to separately recognize the overfunded or underfunded status of our pension and opeb plans as an asset or liability .', 'the funded status represents the difference between the pbo and the fair value of the plan assets .', 'the pbo is the present value of benefits earned to date by plan participants , including the effect of assumed future salary increases .', 'the pbo of the opeb plan is equal to the accumulated benefit obligation , as the present value of the opeb liabilities is not affected by salary increases .', 'plan assets are measured at fair value .', 'we use a december 31 measurement date for plan assets and obligations for all our retirement plans. .'] | ========================================
• , shares ( thous. ), weighted-averagegrant-date fair value
• nonvested at january 1 2009, 873, $ 50.70
• granted, 449, 47.28
• vested, -240 ( 240 ), 43.23
• forfeited, -22 ( 22 ), 53.86
• nonvested at december 31 2009, 1060, $ 50.88
======================================== | multiply(1060, const_1000), multiply(22, const_1000000), divide(#1, #0) | 20.75472 |
what was the total expense related to contribution plans from 2008 to 2010 | Context: ['the following is a schedule of future minimum rental payments required under long-term operating leases at october 30 , 2010 : fiscal years operating leases .']
Data Table:
========================================
fiscal years | operating leases
2011 | $ 21871
2012 | 12322
2013 | 9078
2014 | 6381
2015 | 5422
later years | 30655
total | $ 85729
========================================
Additional Information: ['12 .', 'commitments and contingencies from time to time in the ordinary course of the company 2019s business , various claims , charges and litigation are asserted or commenced against the company arising from , or related to , contractual matters , patents , trademarks , personal injury , environmental matters , product liability , insurance coverage and personnel and employment disputes .', 'as to such claims and litigation , the company can give no assurance that it will prevail .', 'the company does not believe that any current legal matters will have a material adverse effect on the company 2019s financial position , results of operations or cash flows .', '13 .', 'retirement plans the company and its subsidiaries have various savings and retirement plans covering substantially all employees .', 'the company maintains a defined contribution plan for the benefit of its eligible u.s .', 'employees .', 'this plan provides for company contributions of up to 5% ( 5 % ) of each participant 2019s total eligible compensation .', 'in addition , the company contributes an amount equal to each participant 2019s pre-tax contribution , if any , up to a maximum of 3% ( 3 % ) of each participant 2019s total eligible compensation .', 'the total expense related to the defined contribution plan for u.s .', 'employees was $ 20.5 million in fiscal 2010 , $ 21.5 million in fiscal 2009 and $ 22.6 million in fiscal 2008 .', 'the company also has various defined benefit pension and other retirement plans for certain non-u.s .', 'employees that are consistent with local statutory requirements and practices .', 'the total expense related to the various defined benefit pension and other retirement plans for certain non-u.s .', 'employees was $ 11.7 million in fiscal 2010 , $ 10.9 million in fiscal 2009 and $ 13.9 million in fiscal 2008 .', 'during fiscal 2009 , the measurement date of the plan 2019s funded status was changed from september 30 to the company 2019s fiscal year end .', 'non-u.s .', 'plan disclosures the company 2019s funding policy for its foreign defined benefit pension plans is consistent with the local requirements of each country .', 'the plans 2019 assets consist primarily of u.s .', 'and non-u.s .', 'equity securities , bonds , property and cash .', 'the benefit obligations and related assets under these plans have been measured at october 30 , 2010 and october 31 , 2009 .', 'analog devices , inc .', 'notes to consolidated financial statements 2014 ( continued ) .'] | 101.1 | ADI/2010/page_82.pdf-4 | ['the following is a schedule of future minimum rental payments required under long-term operating leases at october 30 , 2010 : fiscal years operating leases .'] | ['12 .', 'commitments and contingencies from time to time in the ordinary course of the company 2019s business , various claims , charges and litigation are asserted or commenced against the company arising from , or related to , contractual matters , patents , trademarks , personal injury , environmental matters , product liability , insurance coverage and personnel and employment disputes .', 'as to such claims and litigation , the company can give no assurance that it will prevail .', 'the company does not believe that any current legal matters will have a material adverse effect on the company 2019s financial position , results of operations or cash flows .', '13 .', 'retirement plans the company and its subsidiaries have various savings and retirement plans covering substantially all employees .', 'the company maintains a defined contribution plan for the benefit of its eligible u.s .', 'employees .', 'this plan provides for company contributions of up to 5% ( 5 % ) of each participant 2019s total eligible compensation .', 'in addition , the company contributes an amount equal to each participant 2019s pre-tax contribution , if any , up to a maximum of 3% ( 3 % ) of each participant 2019s total eligible compensation .', 'the total expense related to the defined contribution plan for u.s .', 'employees was $ 20.5 million in fiscal 2010 , $ 21.5 million in fiscal 2009 and $ 22.6 million in fiscal 2008 .', 'the company also has various defined benefit pension and other retirement plans for certain non-u.s .', 'employees that are consistent with local statutory requirements and practices .', 'the total expense related to the various defined benefit pension and other retirement plans for certain non-u.s .', 'employees was $ 11.7 million in fiscal 2010 , $ 10.9 million in fiscal 2009 and $ 13.9 million in fiscal 2008 .', 'during fiscal 2009 , the measurement date of the plan 2019s funded status was changed from september 30 to the company 2019s fiscal year end .', 'non-u.s .', 'plan disclosures the company 2019s funding policy for its foreign defined benefit pension plans is consistent with the local requirements of each country .', 'the plans 2019 assets consist primarily of u.s .', 'and non-u.s .', 'equity securities , bonds , property and cash .', 'the benefit obligations and related assets under these plans have been measured at october 30 , 2010 and october 31 , 2009 .', 'analog devices , inc .', 'notes to consolidated financial statements 2014 ( continued ) .'] | ========================================
fiscal years | operating leases
2011 | $ 21871
2012 | 12322
2013 | 9078
2014 | 6381
2015 | 5422
later years | 30655
total | $ 85729
======================================== | add(20.5, 11.7), add(21.5, 10.9), add(22.6, 13.9), add(#2, #0), add(#1, #3) | 101.1 |
what was the average aggregate intrinsic value of stock options exercised from 2013 to 2015 | Background: ["other information related to the company's share options is as follows ( in millions ) : ."]
----------
Tabular Data:
****************************************
, 2015, 2014, 2013
aggregate intrinsic value of stock options exercised, $ 104, $ 61, $ 73
cash received from the exercise of stock options, 40, 38, 61
tax benefit realized from the exercise of stock options, 36, 16, 15
****************************************
----------
Additional Information: ['unamortized deferred compensation expense , which includes both options and rsus , amounted to $ 378 million as of december 31 , 2015 , with a remaining weighted-average amortization period of approximately 2.1 years .', "employee share purchase plan united states the company has an employee share purchase plan that provides for the purchase of a maximum of 7.5 million shares of the company's ordinary shares by eligible u.s .", 'employees .', "the company's ordinary shares were purchased at 6-month intervals at 85% ( 85 % ) of the lower of the fair market value of the ordinary shares on the first or last day of each 6-month period .", 'in 2015 , 2014 , and 2013 , 411636 shares , 439000 shares and 556000 shares , respectively , were issued to employees under the plan .', 'compensation expense recognized was $ 9 million in 2015 , $ 7 million in 2014 , and $ 6 million in 2013 .', 'united kingdom the company also has an employee share purchase plan for eligible u.k .', 'employees that provides for the purchase of shares after a 3-year period and that is similar to the u.s .', 'plan previously described .', 'three-year periods began in 2015 , 2014 , 2013 , allowing for the purchase of a maximum of 100000 , 300000 , and 350000 shares , respectively .', 'in 2015 , 2014 , and 2013 , 2779 shares , 642 shares , and 172110 shares , respectively , were issued under the plan .', 'compensation expense of $ 2 million was recognized in 2015 and 2014 , as compared to $ 1 million of compensation expense in 2013 .', '12 .', 'derivatives and hedging the company is exposed to market risks , including changes in foreign currency exchange rates and interest rates .', 'to manage the risk related to these exposures , the company enters into various derivative instruments that reduce these risks by creating offsetting exposures .', 'the company does not enter into derivative transactions for trading or speculative purposes .', 'foreign exchange risk management the company is exposed to foreign exchange risk when it earns revenues , pays expenses , or enters into monetary intercompany transfers denominated in a currency that differs from its functional currency , or other transactions that are denominated in a currency other than its functional currency .', 'the company uses foreign exchange derivatives , typically forward contracts , options and cross-currency swaps , to reduce its overall exposure to the effects of currency fluctuations on cash flows .', 'these exposures are hedged , on average , for less than two years .', 'these derivatives are accounted for as hedges , and changes in fair value are recorded each period in other comprehensive income ( loss ) in the consolidated statements of comprehensive income .', "the company also uses foreign exchange derivatives , typically forward contracts and options to economically hedge the currency exposure of the company's global liquidity profile , including monetary assets or liabilities that are denominated in a non-functional currency of an entity , typically on a rolling 30-day basis , but may be for up to one year in the future .", 'these derivatives are not accounted for as hedges , and changes in fair value are recorded each period in other income in the consolidated statements of income. .'] | 61.0 | AON/2015/page_96.pdf-2 | ["other information related to the company's share options is as follows ( in millions ) : ."] | ['unamortized deferred compensation expense , which includes both options and rsus , amounted to $ 378 million as of december 31 , 2015 , with a remaining weighted-average amortization period of approximately 2.1 years .', "employee share purchase plan united states the company has an employee share purchase plan that provides for the purchase of a maximum of 7.5 million shares of the company's ordinary shares by eligible u.s .", 'employees .', "the company's ordinary shares were purchased at 6-month intervals at 85% ( 85 % ) of the lower of the fair market value of the ordinary shares on the first or last day of each 6-month period .", 'in 2015 , 2014 , and 2013 , 411636 shares , 439000 shares and 556000 shares , respectively , were issued to employees under the plan .', 'compensation expense recognized was $ 9 million in 2015 , $ 7 million in 2014 , and $ 6 million in 2013 .', 'united kingdom the company also has an employee share purchase plan for eligible u.k .', 'employees that provides for the purchase of shares after a 3-year period and that is similar to the u.s .', 'plan previously described .', 'three-year periods began in 2015 , 2014 , 2013 , allowing for the purchase of a maximum of 100000 , 300000 , and 350000 shares , respectively .', 'in 2015 , 2014 , and 2013 , 2779 shares , 642 shares , and 172110 shares , respectively , were issued under the plan .', 'compensation expense of $ 2 million was recognized in 2015 and 2014 , as compared to $ 1 million of compensation expense in 2013 .', '12 .', 'derivatives and hedging the company is exposed to market risks , including changes in foreign currency exchange rates and interest rates .', 'to manage the risk related to these exposures , the company enters into various derivative instruments that reduce these risks by creating offsetting exposures .', 'the company does not enter into derivative transactions for trading or speculative purposes .', 'foreign exchange risk management the company is exposed to foreign exchange risk when it earns revenues , pays expenses , or enters into monetary intercompany transfers denominated in a currency that differs from its functional currency , or other transactions that are denominated in a currency other than its functional currency .', 'the company uses foreign exchange derivatives , typically forward contracts , options and cross-currency swaps , to reduce its overall exposure to the effects of currency fluctuations on cash flows .', 'these exposures are hedged , on average , for less than two years .', 'these derivatives are accounted for as hedges , and changes in fair value are recorded each period in other comprehensive income ( loss ) in the consolidated statements of comprehensive income .', "the company also uses foreign exchange derivatives , typically forward contracts and options to economically hedge the currency exposure of the company's global liquidity profile , including monetary assets or liabilities that are denominated in a non-functional currency of an entity , typically on a rolling 30-day basis , but may be for up to one year in the future .", 'these derivatives are not accounted for as hedges , and changes in fair value are recorded each period in other income in the consolidated statements of income. .'] | ****************************************
, 2015, 2014, 2013
aggregate intrinsic value of stock options exercised, $ 104, $ 61, $ 73
cash received from the exercise of stock options, 40, 38, 61
tax benefit realized from the exercise of stock options, 36, 16, 15
**************************************** | add(104, 61), add(73, #0), divide(#1, const_2), add(#2, const_3), divide(#3, const_2) | 61.0 |
what is the growth rate in the r&d in 2019? | Background: ['expected term 2014 the company uses historical employee exercise and option expiration data to estimate the expected term assumption for the black-scholes grant-date valuation .', 'the company believes that this historical data is currently the best estimate of the expected term of a new option , and that generally its employees exhibit similar exercise behavior .', 'risk-free interest rate 2014 the yield on zero-coupon u.s .', 'treasury securities for a period that is commensurate with the expected term assumption is used as the risk-free interest rate .', 'expected dividend yield 2014 expected dividend yield is calculated by annualizing the cash dividend declared by the company 2019s board of directors for the current quarter and dividing that result by the closing stock price on the date of grant .', 'until such time as the company 2019s board of directors declares a cash dividend for an amount that is different from the current quarter 2019s cash dividend , the current dividend will be used in deriving this assumption .', 'cash dividends are not paid on options , restricted stock or restricted stock units .', 'in connection with the acquisition , the company granted restricted stock awards to replace outstanding restricted stock awards of linear employees .', 'these restricted stock awards entitle recipients to voting and nonforfeitable dividend rights from the date of grant .', 'stock-based compensation expensexp p the amount of stock-based compensation expense recognized during a period is based on the value of the awards that are ultimately expected to vest .', 'forfeitures are estimated at the time of grant and revised , if necessary , in subsequent periods if actual forfeitures differ from those estimates .', 'the term 201cforfeitures 201d is distinct from 201ccancellations 201d or 201cexpirations 201d and represents only the unvested portion of the surrendered stock-based award .', 'based on an analysis of its historical forfeitures , the company has applied an annual forfeitureff rate of 5.0% ( 5.0 % ) to all unvested stock-based awards as of november 2 , 2019 .', 'this analysis will be re-evaluated quarterly and the forfeiture rate will be adjusted as necessary .', 'ultimately , the actual expense recognized over the vesting period will only be for those awards that vest .', 'total stock-based compensation expense recognized is as follows: .']
Tabular Data:
• , 2019, 2018, 2017
• cost of sales, $ 20628, $ 18733, $ 12569
• research and development, 75305, 81444, 51258
• selling marketing general and administrative, 51829, 50988, 40361
• special charges, 2538, 2014, 2014
• total stock-based compensation expense, $ 150300, $ 151165, $ 104188
Post-table: ['as of november 2 , 2019 and november 3 , 2018 , the company capitalized $ 6.8 million and $ 7.1 million , respectively , of stock-based compensation in inventory .', 'additional paid-in-capital ( apic ) pp poolp p ( ) the company adopted asu 2016-09 during fiscal 2018 .', 'asu 2016-09 eliminated the apic pool and requires that excess tax benefits and tax deficiencies be recorded in the income statement when awards are settled .', 'as a result of this adoption the company recorded total excess tax benefits of $ 28.7 million and $ 26.2 million in fiscal 2019 and fiscal 2018 , respectively , from its stock-based compensation payments within income tax expense in its consolidated statements of income .', 'for fiscal 2017 , the apic pool represented the excess tax benefits related to stock-based compensation that were available to absorb future tax deficiencies .', 'if the amount of future tax deficiencies was greater than the available apic pool , the company recorded the excess as income tax expense in its consolidated statements of income .', 'for fiscal 2017 , the company had a sufficient apic pool to cover any tax deficiencies recorded and as a result , these deficiencies did not affect its results of operations .', 'analog devices , inc .', 'notes to consolidated financial statements 2014 ( continued ) .'] | -0.07538 | ADI/2019/page_77.pdf-2 | ['expected term 2014 the company uses historical employee exercise and option expiration data to estimate the expected term assumption for the black-scholes grant-date valuation .', 'the company believes that this historical data is currently the best estimate of the expected term of a new option , and that generally its employees exhibit similar exercise behavior .', 'risk-free interest rate 2014 the yield on zero-coupon u.s .', 'treasury securities for a period that is commensurate with the expected term assumption is used as the risk-free interest rate .', 'expected dividend yield 2014 expected dividend yield is calculated by annualizing the cash dividend declared by the company 2019s board of directors for the current quarter and dividing that result by the closing stock price on the date of grant .', 'until such time as the company 2019s board of directors declares a cash dividend for an amount that is different from the current quarter 2019s cash dividend , the current dividend will be used in deriving this assumption .', 'cash dividends are not paid on options , restricted stock or restricted stock units .', 'in connection with the acquisition , the company granted restricted stock awards to replace outstanding restricted stock awards of linear employees .', 'these restricted stock awards entitle recipients to voting and nonforfeitable dividend rights from the date of grant .', 'stock-based compensation expensexp p the amount of stock-based compensation expense recognized during a period is based on the value of the awards that are ultimately expected to vest .', 'forfeitures are estimated at the time of grant and revised , if necessary , in subsequent periods if actual forfeitures differ from those estimates .', 'the term 201cforfeitures 201d is distinct from 201ccancellations 201d or 201cexpirations 201d and represents only the unvested portion of the surrendered stock-based award .', 'based on an analysis of its historical forfeitures , the company has applied an annual forfeitureff rate of 5.0% ( 5.0 % ) to all unvested stock-based awards as of november 2 , 2019 .', 'this analysis will be re-evaluated quarterly and the forfeiture rate will be adjusted as necessary .', 'ultimately , the actual expense recognized over the vesting period will only be for those awards that vest .', 'total stock-based compensation expense recognized is as follows: .'] | ['as of november 2 , 2019 and november 3 , 2018 , the company capitalized $ 6.8 million and $ 7.1 million , respectively , of stock-based compensation in inventory .', 'additional paid-in-capital ( apic ) pp poolp p ( ) the company adopted asu 2016-09 during fiscal 2018 .', 'asu 2016-09 eliminated the apic pool and requires that excess tax benefits and tax deficiencies be recorded in the income statement when awards are settled .', 'as a result of this adoption the company recorded total excess tax benefits of $ 28.7 million and $ 26.2 million in fiscal 2019 and fiscal 2018 , respectively , from its stock-based compensation payments within income tax expense in its consolidated statements of income .', 'for fiscal 2017 , the apic pool represented the excess tax benefits related to stock-based compensation that were available to absorb future tax deficiencies .', 'if the amount of future tax deficiencies was greater than the available apic pool , the company recorded the excess as income tax expense in its consolidated statements of income .', 'for fiscal 2017 , the company had a sufficient apic pool to cover any tax deficiencies recorded and as a result , these deficiencies did not affect its results of operations .', 'analog devices , inc .', 'notes to consolidated financial statements 2014 ( continued ) .'] | • , 2019, 2018, 2017
• cost of sales, $ 20628, $ 18733, $ 12569
• research and development, 75305, 81444, 51258
• selling marketing general and administrative, 51829, 50988, 40361
• special charges, 2538, 2014, 2014
• total stock-based compensation expense, $ 150300, $ 151165, $ 104188 | subtract(75305, 81444), divide(#0, 81444) | -0.07538 |
what was the change in millions for receivables for recoverable costs from certain states , under programs to assist companies in clean-up efforts related to underground storage tanks at retail marketing outlets , between december 31 , 2008 and 2007? | Context: ['marathon oil corporation notes to consolidated financial statements operating lease rental expense was : ( in millions ) 2008 2007 2006 minimum rental ( a ) $ 245 $ 209 $ 172 .']
##
Table:
----------------------------------------
( in millions ) | 2008 | 2007 | 2006
minimum rental ( a ) | $ 245 | $ 209 | $ 172
contingent rental | 22 | 33 | 28
sublease rentals | 2013 | 2013 | -7 ( 7 )
net rental expense | $ 267 | $ 242 | $ 193
----------------------------------------
##
Post-table: ['( a ) excludes $ 5 million , $ 8 million and $ 9 million paid by united states steel in 2008 , 2007 and 2006 on assumed leases .', '27 .', 'contingencies and commitments we are the subject of , or party to , a number of pending or threatened legal actions , contingencies and commitments involving a variety of matters , including laws and regulations relating to the environment .', 'certain of these matters are discussed below .', 'the ultimate resolution of these contingencies could , individually or in the aggregate , be material to our consolidated financial statements .', 'however , management believes that we will remain a viable and competitive enterprise even though it is possible that these contingencies could be resolved unfavorably .', 'environmental matters 2013 we are subject to federal , state , local and foreign laws and regulations relating to the environment .', 'these laws generally provide for control of pollutants released into the environment and require responsible parties to undertake remediation of hazardous waste disposal sites .', 'penalties may be imposed for noncompliance .', 'at december 31 , 2008 and 2007 , accrued liabilities for remediation totaled $ 111 million and $ 108 million .', 'it is not presently possible to estimate the ultimate amount of all remediation costs that might be incurred or the penalties that may be imposed .', 'receivables for recoverable costs from certain states , under programs to assist companies in clean-up efforts related to underground storage tanks at retail marketing outlets , were $ 60 and $ 66 million at december 31 , 2008 and 2007 .', 'we are a defendant , along with other refining companies , in 20 cases arising in three states alleging damages for methyl tertiary-butyl ether ( 201cmtbe 201d ) contamination .', 'we have also received seven toxic substances control act notice letters involving potential claims in two states .', 'such notice letters are often followed by litigation .', 'like the cases that were settled in 2008 , the remaining mtbe cases are consolidated in a multidistrict litigation in the southern district of new york for pretrial proceedings .', 'nineteen of the remaining cases allege damages to water supply wells , similar to the damages claimed in the settled cases .', 'in the other remaining case , the state of new jersey is seeking natural resources damages allegedly resulting from contamination of groundwater by mtbe .', 'this is the only mtbe contamination case in which we are a defendant and natural resources damages are sought .', 'we are vigorously defending these cases .', 'we , along with a number of other defendants , have engaged in settlement discussions related to the majority of the cases in which we are a defendant .', 'we do not expect our share of liability , if any , for the remaining cases to significantly impact our consolidated results of operations , financial position or cash flows .', 'a lawsuit filed in the united states district court for the southern district of west virginia alleges that our catlettsburg , kentucky , refinery distributed contaminated gasoline to wholesalers and retailers for a period prior to august , 2003 , causing permanent damage to storage tanks , dispensers and related equipment , resulting in lost profits , business disruption and personal and real property damages .', 'following the incident , we conducted remediation operations at affected facilities , and we deny that any permanent damages resulted from the incident .', 'class action certification was granted in august 2007 .', 'we have entered into a tentative settlement agreement in this case .', 'notice of the proposed settlement has been sent to the class members .', 'approval by the court after a fairness hearing is required before the settlement can be finalized .', 'the fairness hearing is scheduled in the first quarter of 2009 .', 'the proposed settlement will not significantly impact our consolidated results of operations , financial position or cash flows .', 'guarantees 2013 we have provided certain guarantees , direct and indirect , of the indebtedness of other companies .', 'under the terms of most of these guarantee arrangements , we would be required to perform should the guaranteed party fail to fulfill its obligations under the specified arrangements .', 'in addition to these financial guarantees , we also have various performance guarantees related to specific agreements. .'] | -6.0 | MRO/2008/page_146.pdf-3 | ['marathon oil corporation notes to consolidated financial statements operating lease rental expense was : ( in millions ) 2008 2007 2006 minimum rental ( a ) $ 245 $ 209 $ 172 .'] | ['( a ) excludes $ 5 million , $ 8 million and $ 9 million paid by united states steel in 2008 , 2007 and 2006 on assumed leases .', '27 .', 'contingencies and commitments we are the subject of , or party to , a number of pending or threatened legal actions , contingencies and commitments involving a variety of matters , including laws and regulations relating to the environment .', 'certain of these matters are discussed below .', 'the ultimate resolution of these contingencies could , individually or in the aggregate , be material to our consolidated financial statements .', 'however , management believes that we will remain a viable and competitive enterprise even though it is possible that these contingencies could be resolved unfavorably .', 'environmental matters 2013 we are subject to federal , state , local and foreign laws and regulations relating to the environment .', 'these laws generally provide for control of pollutants released into the environment and require responsible parties to undertake remediation of hazardous waste disposal sites .', 'penalties may be imposed for noncompliance .', 'at december 31 , 2008 and 2007 , accrued liabilities for remediation totaled $ 111 million and $ 108 million .', 'it is not presently possible to estimate the ultimate amount of all remediation costs that might be incurred or the penalties that may be imposed .', 'receivables for recoverable costs from certain states , under programs to assist companies in clean-up efforts related to underground storage tanks at retail marketing outlets , were $ 60 and $ 66 million at december 31 , 2008 and 2007 .', 'we are a defendant , along with other refining companies , in 20 cases arising in three states alleging damages for methyl tertiary-butyl ether ( 201cmtbe 201d ) contamination .', 'we have also received seven toxic substances control act notice letters involving potential claims in two states .', 'such notice letters are often followed by litigation .', 'like the cases that were settled in 2008 , the remaining mtbe cases are consolidated in a multidistrict litigation in the southern district of new york for pretrial proceedings .', 'nineteen of the remaining cases allege damages to water supply wells , similar to the damages claimed in the settled cases .', 'in the other remaining case , the state of new jersey is seeking natural resources damages allegedly resulting from contamination of groundwater by mtbe .', 'this is the only mtbe contamination case in which we are a defendant and natural resources damages are sought .', 'we are vigorously defending these cases .', 'we , along with a number of other defendants , have engaged in settlement discussions related to the majority of the cases in which we are a defendant .', 'we do not expect our share of liability , if any , for the remaining cases to significantly impact our consolidated results of operations , financial position or cash flows .', 'a lawsuit filed in the united states district court for the southern district of west virginia alleges that our catlettsburg , kentucky , refinery distributed contaminated gasoline to wholesalers and retailers for a period prior to august , 2003 , causing permanent damage to storage tanks , dispensers and related equipment , resulting in lost profits , business disruption and personal and real property damages .', 'following the incident , we conducted remediation operations at affected facilities , and we deny that any permanent damages resulted from the incident .', 'class action certification was granted in august 2007 .', 'we have entered into a tentative settlement agreement in this case .', 'notice of the proposed settlement has been sent to the class members .', 'approval by the court after a fairness hearing is required before the settlement can be finalized .', 'the fairness hearing is scheduled in the first quarter of 2009 .', 'the proposed settlement will not significantly impact our consolidated results of operations , financial position or cash flows .', 'guarantees 2013 we have provided certain guarantees , direct and indirect , of the indebtedness of other companies .', 'under the terms of most of these guarantee arrangements , we would be required to perform should the guaranteed party fail to fulfill its obligations under the specified arrangements .', 'in addition to these financial guarantees , we also have various performance guarantees related to specific agreements. .'] | ----------------------------------------
( in millions ) | 2008 | 2007 | 2006
minimum rental ( a ) | $ 245 | $ 209 | $ 172
contingent rental | 22 | 33 | 28
sublease rentals | 2013 | 2013 | -7 ( 7 )
net rental expense | $ 267 | $ 242 | $ 193
---------------------------------------- | subtract(60, 66) | -6.0 |
what os the growth rate in the average price of shares from october to december 2009? | Pre-text: ['we are required under the terms of our preferred stock to pay scheduled quarterly dividends , subject to legally available funds .', 'for so long as the preferred stock remains outstanding , ( 1 ) we will not declare , pay or set apart funds for the payment of any dividend or other distribution with respect to any junior stock or parity stock and ( 2 ) neither we , nor any of our subsidiaries , will , subject to certain exceptions , redeem , purchase or otherwise acquire for consideration junior stock or parity stock through a sinking fund or otherwise , in each case unless we have paid or set apart funds for the payment of all accumulated and unpaid dividends with respect to the shares of preferred stock and any parity stock for all preceding dividend periods .', 'pursuant to this policy , we paid quarterly dividends of $ 0.265625 per share on our preferred stock on february 1 , 2009 , may 1 , 2009 , august 3 , 2009 and november 2 , 2009 and similar quarterly dividends during each quarter of 2008 .', 'the annual cash dividend declared and paid during the years ended december 31 , 2009 and 2008 were $ 10 million and $ 10 million , respectively .', 'on january 5 , 2010 , we declared a cash dividend of $ 0.265625 per share on our preferred stock amounting to $ 3 million and a cash dividend of $ 0.04 per share on our series a common stock amounting to $ 6 million .', 'both cash dividends are for the period from november 2 , 2009 to january 31 , 2010 and were paid on february 1 , 2010 to holders of record as of january 15 , 2010 .', 'on february 1 , 2010 , we announced we would elect to redeem all of our outstanding preferred stock on february 22 , 2010 .', 'holders of the preferred stock also have the right to convert their shares at any time prior to 5:00 p.m. , new york city time , on february 19 , 2010 , the business day immediately preceding the february 22 , 2010 redemption date .', 'based on the number of outstanding shares as of december 31 , 2009 and considering the redemption of our preferred stock , cash dividends to be paid in 2010 are expected to result in annual dividend payments less than those paid in 2009 .', 'the amount available to us to pay cash dividends is restricted by our senior credit agreement .', 'any decision to declare and pay dividends in the future will be made at the discretion of our board of directors and will depend on , among other things , our results of operations , cash requirements , financial condition , contractual restrictions and other factors that our board of directors may deem relevant .', 'celanese purchases of its equity securities the table below sets forth information regarding repurchases of our series a common stock during the three months ended december 31 , 2009 : period total number of shares purchased ( 1 ) average price paid per share total number of shares purchased as part of publicly announced program approximate dollar value of shares remaining that may be purchased under the program .']
######
Tabular Data:
========================================
period, total number of shares purchased ( 1 ), average price paid per share, total number of shares purchased as part of publicly announced program, approximate dollar value of shares remaining that may be purchased under the program
october 1-31 2009, 24980, $ 24.54, -, $ 122300000.00
november 1-30 2009, -, $ -, -, $ 122300000.00
december 1-31 2009, 334, $ 32.03, -, $ 122300000.00
========================================
######
Additional Information: ['( 1 ) relates to shares employees have elected to have withheld to cover their statutory minimum withholding requirements for personal income taxes related to the vesting of restricted stock units .', 'no shares were purchased during the three months ended december 31 , 2009 under our previously announced stock repurchase plan .', '%%transmsg*** transmitting job : d70731 pcn : 033000000 ***%%pcmsg|33 |00012|yes|no|02/10/2010 05:41|0|0|page is valid , no graphics -- color : n| .'] | 0.30522 | CE/2009/page_35.pdf-2 | ['we are required under the terms of our preferred stock to pay scheduled quarterly dividends , subject to legally available funds .', 'for so long as the preferred stock remains outstanding , ( 1 ) we will not declare , pay or set apart funds for the payment of any dividend or other distribution with respect to any junior stock or parity stock and ( 2 ) neither we , nor any of our subsidiaries , will , subject to certain exceptions , redeem , purchase or otherwise acquire for consideration junior stock or parity stock through a sinking fund or otherwise , in each case unless we have paid or set apart funds for the payment of all accumulated and unpaid dividends with respect to the shares of preferred stock and any parity stock for all preceding dividend periods .', 'pursuant to this policy , we paid quarterly dividends of $ 0.265625 per share on our preferred stock on february 1 , 2009 , may 1 , 2009 , august 3 , 2009 and november 2 , 2009 and similar quarterly dividends during each quarter of 2008 .', 'the annual cash dividend declared and paid during the years ended december 31 , 2009 and 2008 were $ 10 million and $ 10 million , respectively .', 'on january 5 , 2010 , we declared a cash dividend of $ 0.265625 per share on our preferred stock amounting to $ 3 million and a cash dividend of $ 0.04 per share on our series a common stock amounting to $ 6 million .', 'both cash dividends are for the period from november 2 , 2009 to january 31 , 2010 and were paid on february 1 , 2010 to holders of record as of january 15 , 2010 .', 'on february 1 , 2010 , we announced we would elect to redeem all of our outstanding preferred stock on february 22 , 2010 .', 'holders of the preferred stock also have the right to convert their shares at any time prior to 5:00 p.m. , new york city time , on february 19 , 2010 , the business day immediately preceding the february 22 , 2010 redemption date .', 'based on the number of outstanding shares as of december 31 , 2009 and considering the redemption of our preferred stock , cash dividends to be paid in 2010 are expected to result in annual dividend payments less than those paid in 2009 .', 'the amount available to us to pay cash dividends is restricted by our senior credit agreement .', 'any decision to declare and pay dividends in the future will be made at the discretion of our board of directors and will depend on , among other things , our results of operations , cash requirements , financial condition , contractual restrictions and other factors that our board of directors may deem relevant .', 'celanese purchases of its equity securities the table below sets forth information regarding repurchases of our series a common stock during the three months ended december 31 , 2009 : period total number of shares purchased ( 1 ) average price paid per share total number of shares purchased as part of publicly announced program approximate dollar value of shares remaining that may be purchased under the program .'] | ['( 1 ) relates to shares employees have elected to have withheld to cover their statutory minimum withholding requirements for personal income taxes related to the vesting of restricted stock units .', 'no shares were purchased during the three months ended december 31 , 2009 under our previously announced stock repurchase plan .', '%%transmsg*** transmitting job : d70731 pcn : 033000000 ***%%pcmsg|33 |00012|yes|no|02/10/2010 05:41|0|0|page is valid , no graphics -- color : n| .'] | ========================================
period, total number of shares purchased ( 1 ), average price paid per share, total number of shares purchased as part of publicly announced program, approximate dollar value of shares remaining that may be purchased under the program
october 1-31 2009, 24980, $ 24.54, -, $ 122300000.00
november 1-30 2009, -, $ -, -, $ 122300000.00
december 1-31 2009, 334, $ 32.03, -, $ 122300000.00
======================================== | subtract(32.03, 24.54), divide(#0, 24.54) | 0.30522 |
what is the increase in the value of goodwill balances during 2008 and 2009? | Pre-text: ['holding other assumptions constant , the following table reflects what a one hundred basis point increase and decrease in our estimated long-term rate of return on plan assets would have on our estimated 2010 pension expense ( in millions ) : change in long-term rate of return on plan assets .']
----------
Data Table:
========================================
increase ( decrease ) in expense | change in long-term rateof return on plan assets increase | change in long-term rateof return on plan assets decrease
----------|----------|----------
u.s . plans | $ -13 ( 13 ) | $ 13
u.k . plans | -32 ( 32 ) | 32
the netherlands plan | -5 ( 5 ) | 5
canada plans | -2 ( 2 ) | 2
========================================
----------
Additional Information: ['estimated future contributions we estimate contributions of approximately $ 381 million in 2010 as compared with $ 437 million in goodwill and other intangible assets goodwill represents the excess of cost over the fair market value of the net assets acquired .', 'we classify our intangible assets acquired as either trademarks , client lists , non-compete agreements , or other purchased intangibles .', 'our goodwill and other intangible balances at december 31 , 2009 were $ 6.1 billion and $ 791 million , respectively , compared to $ 5.6 billion and $ 779 million , respectively , at december 31 , 2008 .', 'although goodwill is not amortized , we test it for impairment at least annually in the fourth quarter .', 'beginning in 2009 , we also test trademarks ( which also are not amortized ) that were acquired in conjunction with the benfield merger for impairment .', 'we test more frequently if there are indicators of impairment or whenever business circumstances suggest that the carrying value of goodwill or trademarks may not be recoverable .', 'these indicators may include a sustained significant decline in our share price and market capitalization , a decline in our expected future cash flows , or a significant adverse change in legal factors or in the business climate , among others .', 'no events occurred during 2009 or 2008 that indicate the existence of an impairment with respect to our reported goodwill or trademarks .', 'we perform impairment reviews at the reporting unit level .', 'a reporting unit is an operating segment or one level below an operating segment ( referred to as a 2018 2018component 2019 2019 ) .', 'a component of an operating segment is a reporting unit if the component constitutes a business for which discrete financial information is available and segment management regularly reviews the operating results of that component .', 'an operating segment shall be deemed to be a reporting unit if all of its components are similar , if none of its components is a reporting unit , or if the segment comprises only a single component .', 'the goodwill impairment test is a two step analysis .', 'step one requires the fair value of each reporting unit to be compared to its book value .', 'management must apply judgment in determining the estimated fair value of the reporting units .', 'if the fair value of a reporting unit is determined to be greater than the carrying value of the reporting unit , goodwill and trademarks are deemed not to be impaired and no further testing is necessary .', 'if the fair value of a reporting unit is less than the carrying value , we perform step two .', 'step two uses the calculated fair value of the reporting unit to perform a hypothetical purchase price allocation to the fair value of the assets and liabilities of the reporting unit .', 'the difference between the fair value of the reporting unit calculated in step one and the fair value of the underlying assets and liabilities of the reporting unit is the implied fair value of .'] | 0.08929 | AON/2009/page_54.pdf-1 | ['holding other assumptions constant , the following table reflects what a one hundred basis point increase and decrease in our estimated long-term rate of return on plan assets would have on our estimated 2010 pension expense ( in millions ) : change in long-term rate of return on plan assets .'] | ['estimated future contributions we estimate contributions of approximately $ 381 million in 2010 as compared with $ 437 million in goodwill and other intangible assets goodwill represents the excess of cost over the fair market value of the net assets acquired .', 'we classify our intangible assets acquired as either trademarks , client lists , non-compete agreements , or other purchased intangibles .', 'our goodwill and other intangible balances at december 31 , 2009 were $ 6.1 billion and $ 791 million , respectively , compared to $ 5.6 billion and $ 779 million , respectively , at december 31 , 2008 .', 'although goodwill is not amortized , we test it for impairment at least annually in the fourth quarter .', 'beginning in 2009 , we also test trademarks ( which also are not amortized ) that were acquired in conjunction with the benfield merger for impairment .', 'we test more frequently if there are indicators of impairment or whenever business circumstances suggest that the carrying value of goodwill or trademarks may not be recoverable .', 'these indicators may include a sustained significant decline in our share price and market capitalization , a decline in our expected future cash flows , or a significant adverse change in legal factors or in the business climate , among others .', 'no events occurred during 2009 or 2008 that indicate the existence of an impairment with respect to our reported goodwill or trademarks .', 'we perform impairment reviews at the reporting unit level .', 'a reporting unit is an operating segment or one level below an operating segment ( referred to as a 2018 2018component 2019 2019 ) .', 'a component of an operating segment is a reporting unit if the component constitutes a business for which discrete financial information is available and segment management regularly reviews the operating results of that component .', 'an operating segment shall be deemed to be a reporting unit if all of its components are similar , if none of its components is a reporting unit , or if the segment comprises only a single component .', 'the goodwill impairment test is a two step analysis .', 'step one requires the fair value of each reporting unit to be compared to its book value .', 'management must apply judgment in determining the estimated fair value of the reporting units .', 'if the fair value of a reporting unit is determined to be greater than the carrying value of the reporting unit , goodwill and trademarks are deemed not to be impaired and no further testing is necessary .', 'if the fair value of a reporting unit is less than the carrying value , we perform step two .', 'step two uses the calculated fair value of the reporting unit to perform a hypothetical purchase price allocation to the fair value of the assets and liabilities of the reporting unit .', 'the difference between the fair value of the reporting unit calculated in step one and the fair value of the underlying assets and liabilities of the reporting unit is the implied fair value of .'] | ========================================
increase ( decrease ) in expense | change in long-term rateof return on plan assets increase | change in long-term rateof return on plan assets decrease
----------|----------|----------
u.s . plans | $ -13 ( 13 ) | $ 13
u.k . plans | -32 ( 32 ) | 32
the netherlands plan | -5 ( 5 ) | 5
canada plans | -2 ( 2 ) | 2
======================================== | divide(6.1, 5.6), subtract(#0, const_1) | 0.08929 |
what was the percentage change in the uncertain tax positions from 2007 to 2008? | Pre-text: ['due to the adoption of sfas no .', '123r , the company recognizes excess tax benefits associated with share-based compensation to stockholders 2019 equity only when realized .', 'when assessing whether excess tax benefits relating to share-based compensation have been realized , the company follows the with-and-without approach excluding any indirect effects of the excess tax deductions .', 'under this approach , excess tax benefits related to share-based compensation are not deemed to be realized until after the utilization of all other tax benefits available to the company .', 'during 2008 , the company realized $ 18.5 million of such excess tax benefits , and accordingly recorded a corresponding credit to additional paid in capital .', 'as of december 28 , 2008 , the company has $ 36.5 million of unrealized excess tax benefits associated with share-based compensation .', 'these tax benefits will be accounted for as a credit to additional paid-in capital , if and when realized , rather than a reduction of the tax provision .', 'the company 2019s manufacturing operations in singapore operate under various tax holidays and incentives that begin to expire in 2018 .', 'for the year ended december 28 , 2008 , these tax holidays and incentives resulted in an approximate $ 1.9 million decrease to the tax provision and an increase to net income per diluted share of $ 0.01 .', 'residual u.s .', 'income taxes have not been provided on $ 14.7 million of undistributed earnings of foreign subsidiaries as of december 28 , 2008 , since the earnings are considered to be indefinitely invested in the operations of such subsidiaries .', 'effective january 1 , 2007 , the company adopted fin no .', '48 , accounting for uncertainty in income taxes 2014 an interpretation of fasb statement no .', '109 , which clarifies the accounting for uncertainty in tax positions .', 'fin no .', '48 requires recognition of the impact of a tax position in the company 2019s financial statements only if that position is more likely than not of being sustained upon examination by taxing authorities , based on the technical merits of the position .', 'the adoption of fin no .', '48 did not result in an adjustment to the company 2019s opening stockholders 2019 equity since there was no cumulative effect from the change in accounting principle .', 'the following table summarizes the gross amount of the company 2019s uncertain tax positions ( in thousands ) : .']
########
Table:
****************************************
balance at december 31 2007, $ 21376
increases related to current year tax positions, 2402
balance at december 28 2008, $ 23778
****************************************
########
Follow-up: ['as of december 28 , 2008 , $ 7.7 million of the company 2019s uncertain tax positions would reduce the company 2019s annual effective tax rate , if recognized .', 'the company does not expect its uncertain tax positions to change significantly over the next 12 months .', 'any interest and penalties related to uncertain tax positions will be reflected in income tax expense .', 'as of december 28 , 2008 , no interest or penalties have been accrued related to the company 2019s uncertain tax positions .', 'tax years 1992 to 2008 remain subject to future examination by the major tax jurisdictions in which the company is subject to tax .', '13 .', 'employee benefit plans retirement plan the company has a 401 ( k ) savings plan covering substantially all of its employees .', 'company contributions to the plan are discretionary .', 'during the years ended december 28 , 2008 , december 30 , 2007 and december 31 , 2006 , the company made matching contributions of $ 2.6 million , $ 1.4 million and $ 0.4 million , respectively .', 'illumina , inc .', 'notes to consolidated financial statements 2014 ( continued ) .'] | 0.11237 | ILMN/2008/page_86.pdf-3 | ['due to the adoption of sfas no .', '123r , the company recognizes excess tax benefits associated with share-based compensation to stockholders 2019 equity only when realized .', 'when assessing whether excess tax benefits relating to share-based compensation have been realized , the company follows the with-and-without approach excluding any indirect effects of the excess tax deductions .', 'under this approach , excess tax benefits related to share-based compensation are not deemed to be realized until after the utilization of all other tax benefits available to the company .', 'during 2008 , the company realized $ 18.5 million of such excess tax benefits , and accordingly recorded a corresponding credit to additional paid in capital .', 'as of december 28 , 2008 , the company has $ 36.5 million of unrealized excess tax benefits associated with share-based compensation .', 'these tax benefits will be accounted for as a credit to additional paid-in capital , if and when realized , rather than a reduction of the tax provision .', 'the company 2019s manufacturing operations in singapore operate under various tax holidays and incentives that begin to expire in 2018 .', 'for the year ended december 28 , 2008 , these tax holidays and incentives resulted in an approximate $ 1.9 million decrease to the tax provision and an increase to net income per diluted share of $ 0.01 .', 'residual u.s .', 'income taxes have not been provided on $ 14.7 million of undistributed earnings of foreign subsidiaries as of december 28 , 2008 , since the earnings are considered to be indefinitely invested in the operations of such subsidiaries .', 'effective january 1 , 2007 , the company adopted fin no .', '48 , accounting for uncertainty in income taxes 2014 an interpretation of fasb statement no .', '109 , which clarifies the accounting for uncertainty in tax positions .', 'fin no .', '48 requires recognition of the impact of a tax position in the company 2019s financial statements only if that position is more likely than not of being sustained upon examination by taxing authorities , based on the technical merits of the position .', 'the adoption of fin no .', '48 did not result in an adjustment to the company 2019s opening stockholders 2019 equity since there was no cumulative effect from the change in accounting principle .', 'the following table summarizes the gross amount of the company 2019s uncertain tax positions ( in thousands ) : .'] | ['as of december 28 , 2008 , $ 7.7 million of the company 2019s uncertain tax positions would reduce the company 2019s annual effective tax rate , if recognized .', 'the company does not expect its uncertain tax positions to change significantly over the next 12 months .', 'any interest and penalties related to uncertain tax positions will be reflected in income tax expense .', 'as of december 28 , 2008 , no interest or penalties have been accrued related to the company 2019s uncertain tax positions .', 'tax years 1992 to 2008 remain subject to future examination by the major tax jurisdictions in which the company is subject to tax .', '13 .', 'employee benefit plans retirement plan the company has a 401 ( k ) savings plan covering substantially all of its employees .', 'company contributions to the plan are discretionary .', 'during the years ended december 28 , 2008 , december 30 , 2007 and december 31 , 2006 , the company made matching contributions of $ 2.6 million , $ 1.4 million and $ 0.4 million , respectively .', 'illumina , inc .', 'notes to consolidated financial statements 2014 ( continued ) .'] | ****************************************
balance at december 31 2007, $ 21376
increases related to current year tax positions, 2402
balance at december 28 2008, $ 23778
**************************************** | divide(2402, 21376) | 0.11237 |
what was the percentage change in carrying amount reported on the consolidated balance sheet from 2008 to 2009? | Context: ['certain mortgage loans citigroup has elected the fair value option for certain purchased and originated prime fixed-rate and conforming adjustable-rate first mortgage loans held-for-sale .', 'these loans are intended for sale or securitization and are hedged with derivative instruments .', 'the company has elected the fair value option to mitigate accounting mismatches in cases where hedge .']
######
Tabular Data:
in millions of dollars, december 31 2009, december 31 2008
carrying amount reported on the consolidated balance sheet, $ 3338, $ 4273
aggregate fair value in excess of unpaid principalbalance, 55, 138
balance of non-accrual loans or loans more than 90 days past due, 4, 9
aggregate unpaid principal balance in excess of fair value for non-accrualloans or loans more than 90 days past due, 3, 2
######
Post-table: ['the changes in fair values of these mortgage loans are reported in other revenue in the company 2019s consolidated statement of income .', 'the changes in fair value during the years ended december 31 , 2009 and 2008 due to instrument-specific credit risk resulted in a $ 10 million loss and $ 32 million loss , respectively .', 'related interest income continues to be measured based on the contractual interest rates and reported as such in the consolidated statement of income .', 'mortgage servicing rights the company accounts for mortgage servicing rights ( msrs ) at fair value .', 'fair value for msrs is determined using an option-adjusted spread valuation approach .', 'this approach consists of projecting servicing cash flows under multiple interest-rate scenarios and discounting these cash flows using risk-adjusted rates .', 'the model assumptions used in the valuation of msrs include mortgage prepayment speeds and discount rates .', 'the fair value of msrs is primarily affected by changes in prepayments that result from shifts in mortgage interest rates .', 'in managing this risk , the company hedges a significant portion of the values of its msrs through the use of interest-rate derivative contracts , forward-purchase commitments of mortgage-backed securities , and purchased securities classified as trading .', 'see note 23 to the consolidated financial statements for further discussions regarding the accounting and reporting of msrs .', 'these msrs , which totaled $ 6.5 billion and $ 5.7 billion as of december 31 , 2009 and 2008 , respectively , are classified as mortgage servicing rights on citigroup 2019s consolidated balance sheet .', 'changes in fair value of msrs are recorded in commissions and fees in the company 2019s consolidated statement of income .', 'certain structured liabilities the company has elected the fair value option for certain structured liabilities whose performance is linked to structured interest rates , inflation or currency risks ( 201cstructured liabilities 201d ) .', 'the company elected the fair value option , because these exposures are considered to be trading-related positions and , therefore , are managed on a fair value basis .', 'these positions will continue to be classified as debt , deposits or derivatives ( trading account liabilities ) on the company 2019s consolidated balance sheet according to their legal form .', 'for those structured liabilities classified as long-term debt for which the fair value option has been elected , the aggregate unpaid principal balance exceeded the aggregate fair value by $ 125 million and $ 671 million as of december 31 , 2009 and 2008 , respectively .', 'the change in fair value for these structured liabilities is reported in principal transactions in the company 2019s consolidated statement of income .', 'related interest expense is measured based on the contractual interest rates and reported as such in the consolidated income statement .', 'certain non-structured liabilities the company has elected the fair value option for certain non-structured liabilities with fixed and floating interest rates ( 201cnon-structured liabilities 201d ) .', 'the company has elected the fair value option where the interest-rate risk of such liabilities is economically hedged with derivative contracts or the proceeds are used to purchase financial assets that will also be accounted for at fair value through earnings .', 'the election has been made to mitigate accounting mismatches and to achieve operational simplifications .', 'these positions are reported in short-term borrowings and long-term debt on the company 2019s consolidated balance sheet .', 'for those non-structured liabilities classified as short-term borrowings for which the fair value option has been elected , the aggregate unpaid principal balance exceeded the aggregate fair value of such instruments by $ 220 million as of december 31 , 2008 .', 'for non-structured liabilities classified as long-term debt for which the fair value option has been elected , the aggregate unpaid principal balance exceeded the aggregate fair value by $ 1542 million and $ 856 million as of december 31 , 2009 and 2008 , respectively .', 'the change in fair value for these non-structured liabilities is reported in principal transactions in the company 2019s consolidated statement of income .', 'related interest expense continues to be measured based on the contractual interest rates and reported as such in the consolidated income statement .', 'accounting is complex and to achieve operational simplifications .', 'the fair value option was not elected for loans held-for-investment , as those loans are not hedged with derivative instruments .', 'the following table provides information about certain mortgage loans carried at fair value: .'] | -0.21882 | C/2009/page_248.pdf-4 | ['certain mortgage loans citigroup has elected the fair value option for certain purchased and originated prime fixed-rate and conforming adjustable-rate first mortgage loans held-for-sale .', 'these loans are intended for sale or securitization and are hedged with derivative instruments .', 'the company has elected the fair value option to mitigate accounting mismatches in cases where hedge .'] | ['the changes in fair values of these mortgage loans are reported in other revenue in the company 2019s consolidated statement of income .', 'the changes in fair value during the years ended december 31 , 2009 and 2008 due to instrument-specific credit risk resulted in a $ 10 million loss and $ 32 million loss , respectively .', 'related interest income continues to be measured based on the contractual interest rates and reported as such in the consolidated statement of income .', 'mortgage servicing rights the company accounts for mortgage servicing rights ( msrs ) at fair value .', 'fair value for msrs is determined using an option-adjusted spread valuation approach .', 'this approach consists of projecting servicing cash flows under multiple interest-rate scenarios and discounting these cash flows using risk-adjusted rates .', 'the model assumptions used in the valuation of msrs include mortgage prepayment speeds and discount rates .', 'the fair value of msrs is primarily affected by changes in prepayments that result from shifts in mortgage interest rates .', 'in managing this risk , the company hedges a significant portion of the values of its msrs through the use of interest-rate derivative contracts , forward-purchase commitments of mortgage-backed securities , and purchased securities classified as trading .', 'see note 23 to the consolidated financial statements for further discussions regarding the accounting and reporting of msrs .', 'these msrs , which totaled $ 6.5 billion and $ 5.7 billion as of december 31 , 2009 and 2008 , respectively , are classified as mortgage servicing rights on citigroup 2019s consolidated balance sheet .', 'changes in fair value of msrs are recorded in commissions and fees in the company 2019s consolidated statement of income .', 'certain structured liabilities the company has elected the fair value option for certain structured liabilities whose performance is linked to structured interest rates , inflation or currency risks ( 201cstructured liabilities 201d ) .', 'the company elected the fair value option , because these exposures are considered to be trading-related positions and , therefore , are managed on a fair value basis .', 'these positions will continue to be classified as debt , deposits or derivatives ( trading account liabilities ) on the company 2019s consolidated balance sheet according to their legal form .', 'for those structured liabilities classified as long-term debt for which the fair value option has been elected , the aggregate unpaid principal balance exceeded the aggregate fair value by $ 125 million and $ 671 million as of december 31 , 2009 and 2008 , respectively .', 'the change in fair value for these structured liabilities is reported in principal transactions in the company 2019s consolidated statement of income .', 'related interest expense is measured based on the contractual interest rates and reported as such in the consolidated income statement .', 'certain non-structured liabilities the company has elected the fair value option for certain non-structured liabilities with fixed and floating interest rates ( 201cnon-structured liabilities 201d ) .', 'the company has elected the fair value option where the interest-rate risk of such liabilities is economically hedged with derivative contracts or the proceeds are used to purchase financial assets that will also be accounted for at fair value through earnings .', 'the election has been made to mitigate accounting mismatches and to achieve operational simplifications .', 'these positions are reported in short-term borrowings and long-term debt on the company 2019s consolidated balance sheet .', 'for those non-structured liabilities classified as short-term borrowings for which the fair value option has been elected , the aggregate unpaid principal balance exceeded the aggregate fair value of such instruments by $ 220 million as of december 31 , 2008 .', 'for non-structured liabilities classified as long-term debt for which the fair value option has been elected , the aggregate unpaid principal balance exceeded the aggregate fair value by $ 1542 million and $ 856 million as of december 31 , 2009 and 2008 , respectively .', 'the change in fair value for these non-structured liabilities is reported in principal transactions in the company 2019s consolidated statement of income .', 'related interest expense continues to be measured based on the contractual interest rates and reported as such in the consolidated income statement .', 'accounting is complex and to achieve operational simplifications .', 'the fair value option was not elected for loans held-for-investment , as those loans are not hedged with derivative instruments .', 'the following table provides information about certain mortgage loans carried at fair value: .'] | in millions of dollars, december 31 2009, december 31 2008
carrying amount reported on the consolidated balance sheet, $ 3338, $ 4273
aggregate fair value in excess of unpaid principalbalance, 55, 138
balance of non-accrual loans or loans more than 90 days past due, 4, 9
aggregate unpaid principal balance in excess of fair value for non-accrualloans or loans more than 90 days past due, 3, 2 | subtract(3338, 4273), divide(#0, 4273) | -0.21882 |
what was the percent of the increase in the dow jones u.s . technology index from 2011 to 2012 | Background: ['stock performance graph the line graph that follows compares the cumulative total stockholder return on our common stock with the cumulative total return of the dow jones u.s .', 'technology index* and the standard & poor 2019s s&p 500* index for the five years ended december 28 , 2013 .', 'the graph and table assume that $ 100 was invested on december 26 , 2008 ( the last day of trading for the fiscal year ended december 27 , 2008 ) in each of our common stock , the dow jones u.s .', 'technology index , and the s&p 500 index , and that all dividends were reinvested .', 'cumulative total stockholder returns for our common stock , the dow jones u.s .', 'technology index , and the s&p 500 index are based on our fiscal year .', 'comparison of five-year cumulative return for intel , the dow jones u.s .', 'technology index* , and the s&p 500* index .']
######
Table:
----------------------------------------
2008 2009 2010 2011 2012 2013
intel corporation $ 100 $ 148 $ 157 $ 191 $ 163 $ 214
dow jones u.s . technology index $ 100 $ 170 $ 191 $ 191 $ 209 $ 270
s&p 500 index $ 100 $ 132 $ 151 $ 154 $ 175 $ 236
----------------------------------------
######
Follow-up: ['table of contents .'] | 0.00573 | INTC/2013/page_31.pdf-4 | ['stock performance graph the line graph that follows compares the cumulative total stockholder return on our common stock with the cumulative total return of the dow jones u.s .', 'technology index* and the standard & poor 2019s s&p 500* index for the five years ended december 28 , 2013 .', 'the graph and table assume that $ 100 was invested on december 26 , 2008 ( the last day of trading for the fiscal year ended december 27 , 2008 ) in each of our common stock , the dow jones u.s .', 'technology index , and the s&p 500 index , and that all dividends were reinvested .', 'cumulative total stockholder returns for our common stock , the dow jones u.s .', 'technology index , and the s&p 500 index are based on our fiscal year .', 'comparison of five-year cumulative return for intel , the dow jones u.s .', 'technology index* , and the s&p 500* index .'] | ['table of contents .'] | ----------------------------------------
2008 2009 2010 2011 2012 2013
intel corporation $ 100 $ 148 $ 157 $ 191 $ 163 $ 214
dow jones u.s . technology index $ 100 $ 170 $ 191 $ 191 $ 209 $ 270
s&p 500 index $ 100 $ 132 $ 151 $ 154 $ 175 $ 236
---------------------------------------- | divide(209, 191), divide(#0, 191) | 0.00573 |
what was the percentage change in rental income from 2005 to 2006? | Background: ['the environmental liability includes costs for remediation and restoration of sites , as well as for ongoing monitoring costs , but excludes any anticipated recoveries from third parties .', 'cost estimates are based on information available for each site , financial viability of other potentially responsible parties , and existing technology , laws , and regulations .', 'we believe that we have adequately accrued for our ultimate share of costs at sites subject to joint and several liability .', 'however , the ultimate liability for remediation is difficult to determine because of the number of potentially responsible parties involved , site-specific cost sharing arrangements with other potentially responsible parties , the degree of contamination by various wastes , the scarcity and quality of volumetric data related to many of the sites , and the speculative nature of remediation costs .', 'estimates may also vary due to changes in federal , state , and local laws governing environmental remediation .', 'we do not expect current obligations to have a material adverse effect on our results of operations or financial condition .', 'guarantees 2013 at december 31 , 2006 , we were contingently liable for $ 464 million in guarantees .', 'we have recorded a liability of $ 6 million for the fair value of these obligations as of december 31 , 2006 .', 'we entered into these contingent guarantees in the normal course of business , and they include guaranteed obligations related to our headquarters building , equipment financings , and affiliated operations .', 'the final guarantee expires in 2022 .', 'we are not aware of any existing event of default that would require us to satisfy these guarantees .', 'we do not expect that these guarantees will have a material adverse effect on our consolidated financial condition , results of operations , or liquidity .', 'indemnities 2013 our maximum potential exposure under indemnification arrangements , including certain tax indemnifications , can range from a specified dollar amount to an unlimited amount , depending on the nature of the transactions and the agreements .', 'due to uncertainty as to whether claims will be made or how they will be resolved , we cannot reasonably determine the probability of an adverse claim or reasonably estimate any adverse liability or the total maximum exposure under these indemnification arrangements .', 'we do not have any reason to believe that we will be required to make any material payments under these indemnity provisions .', 'income taxes 2013 as previously reported in our form 10-q for the quarter ended september 30 , 2005 , the irs has completed its examinations and issued notices of deficiency for tax years 1995 through 2002 .', 'among their proposed adjustments is the disallowance of tax deductions claimed in connection with certain donations of property .', 'in the fourth quarter of 2005 , the irs national office issued a technical advice memorandum which left unresolved whether the deductions were proper , pending further factual development .', 'we continue to dispute the donation issue , as well as many of the other proposed adjustments , and will contest the associated tax deficiencies through the irs appeals process , and , if necessary , litigation .', 'in addition , the irs is examining the corporation 2019s federal income tax returns for tax years 2003 and 2004 and should complete their exam in 2007 .', 'we do not expect that the ultimate resolution of these examinations will have a material adverse effect on our consolidated financial statements .', '11 .', 'other income other income included the following for the years ended december 31 : millions of dollars 2006 2005 2004 .']
Tabular Data:
========================================
millions of dollars | 2006 | 2005 | 2004
----------|----------|----------|----------
rental income | $ 83 | $ 59 | $ 55
net gain on non-operating asset dispositions | 72 | 135 | 69
interest income | 29 | 17 | 10
sale of receivables fees | -33 ( 33 ) | -23 ( 23 ) | -11 ( 11 )
non-operating environmental costs and other | -33 ( 33 ) | -43 ( 43 ) | -35 ( 35 )
total | $ 118 | $ 145 | $ 88
========================================
Post-table: ['.'] | 0.40678 | UNP/2006/page_74.pdf-3 | ['the environmental liability includes costs for remediation and restoration of sites , as well as for ongoing monitoring costs , but excludes any anticipated recoveries from third parties .', 'cost estimates are based on information available for each site , financial viability of other potentially responsible parties , and existing technology , laws , and regulations .', 'we believe that we have adequately accrued for our ultimate share of costs at sites subject to joint and several liability .', 'however , the ultimate liability for remediation is difficult to determine because of the number of potentially responsible parties involved , site-specific cost sharing arrangements with other potentially responsible parties , the degree of contamination by various wastes , the scarcity and quality of volumetric data related to many of the sites , and the speculative nature of remediation costs .', 'estimates may also vary due to changes in federal , state , and local laws governing environmental remediation .', 'we do not expect current obligations to have a material adverse effect on our results of operations or financial condition .', 'guarantees 2013 at december 31 , 2006 , we were contingently liable for $ 464 million in guarantees .', 'we have recorded a liability of $ 6 million for the fair value of these obligations as of december 31 , 2006 .', 'we entered into these contingent guarantees in the normal course of business , and they include guaranteed obligations related to our headquarters building , equipment financings , and affiliated operations .', 'the final guarantee expires in 2022 .', 'we are not aware of any existing event of default that would require us to satisfy these guarantees .', 'we do not expect that these guarantees will have a material adverse effect on our consolidated financial condition , results of operations , or liquidity .', 'indemnities 2013 our maximum potential exposure under indemnification arrangements , including certain tax indemnifications , can range from a specified dollar amount to an unlimited amount , depending on the nature of the transactions and the agreements .', 'due to uncertainty as to whether claims will be made or how they will be resolved , we cannot reasonably determine the probability of an adverse claim or reasonably estimate any adverse liability or the total maximum exposure under these indemnification arrangements .', 'we do not have any reason to believe that we will be required to make any material payments under these indemnity provisions .', 'income taxes 2013 as previously reported in our form 10-q for the quarter ended september 30 , 2005 , the irs has completed its examinations and issued notices of deficiency for tax years 1995 through 2002 .', 'among their proposed adjustments is the disallowance of tax deductions claimed in connection with certain donations of property .', 'in the fourth quarter of 2005 , the irs national office issued a technical advice memorandum which left unresolved whether the deductions were proper , pending further factual development .', 'we continue to dispute the donation issue , as well as many of the other proposed adjustments , and will contest the associated tax deficiencies through the irs appeals process , and , if necessary , litigation .', 'in addition , the irs is examining the corporation 2019s federal income tax returns for tax years 2003 and 2004 and should complete their exam in 2007 .', 'we do not expect that the ultimate resolution of these examinations will have a material adverse effect on our consolidated financial statements .', '11 .', 'other income other income included the following for the years ended december 31 : millions of dollars 2006 2005 2004 .'] | ['.'] | ========================================
millions of dollars | 2006 | 2005 | 2004
----------|----------|----------|----------
rental income | $ 83 | $ 59 | $ 55
net gain on non-operating asset dispositions | 72 | 135 | 69
interest income | 29 | 17 | 10
sale of receivables fees | -33 ( 33 ) | -23 ( 23 ) | -11 ( 11 )
non-operating environmental costs and other | -33 ( 33 ) | -43 ( 43 ) | -35 ( 35 )
total | $ 118 | $ 145 | $ 88
======================================== | subtract(83, 59), divide(#0, 59) | 0.40678 |
what was the percentage increase in the shares of common stock of | Background: ['royal caribbean cruises ltd .', 'notes to the consolidated financial statements 2014 ( continued ) note 9 .', 'stock-based employee compensation we have four stock-based compensation plans , which provide for awards to our officers , directors and key employees .', 'the plans consist of a 1990 employee stock option plan , a 1995 incentive stock option plan , a 2000 stock award plan , and a 2008 equity plan .', 'the 1990 stock option plan and the 1995 incentive stock option plan terminated by their terms in march 2000 and february 2005 , respectively .', 'the 2000 stock award plan , as amended , and the 2008 equity plan provide for the issuance of ( i ) incentive and non-qualified stock options , ( ii ) stock appreciation rights , ( iii ) restricted stock , ( iv ) restricted stock units and ( v ) up to 13000000 performance shares of our common stock for the 2000 stock award plan and up to 5000000 performance shares of our common stock for the 2008 equity plan .', 'during any calendar year , no one individual shall be granted awards of more than 500000 shares .', 'options and restricted stock units outstanding as of december 31 , 2009 vest in equal installments over four to five years from the date of grant .', 'generally , options and restricted stock units are forfeited if the recipient ceases to be a director or employee before the shares vest .', 'options are granted at a price not less than the fair value of the shares on the date of grant and expire not later than ten years after the date of grant .', 'we also provide an employee stock purchase plan to facilitate the purchase by employees of up to 800000 shares of common stock in the aggregate .', 'offerings to employees are made on a quarterly basis .', 'subject to certain limitations , the purchase price for each share of common stock is equal to 90% ( 90 % ) of the average of the market prices of the common stock as reported on the new york stock exchange on the first business day of the purchase period and the last business day of each month of the purchase period .', 'shares of common stock of 65005 , 36836 and 20759 were issued under the espp at a weighted-average price of $ 12.78 , $ 20.97 and $ 37.25 during 2009 , 2008 and 2007 , respectively .', 'under the chief executive officer 2019s employment agreement we contributed 10086 shares of our common stock quarterly , to a maximum of 806880 shares , to a trust on his behalf .', 'in january 2009 , the employment agreement and related trust agreement were amended .', 'consequently , 768018 shares were distributed from the trust and future quarterly share distributions are issued directly to the chief executive officer .', 'total compensation expenses recognized for employee stock-based compensation for the year ended december 31 , 2009 was $ 16.8 million .', 'of this amount , $ 16.2 million was included within marketing , selling and administrative expenses and $ 0.6 million was included within payroll and related expenses .', 'total compensation expense recognized for employee stock-based compensation for the year ended december 31 , 2008 was $ 5.7 million .', 'of this amount , $ 6.4 million , which included a benefit of approximately $ 8.2 million due to a change in the employee forfeiture rate assumption was included within marketing , selling and administrative expenses and income of $ 0.7 million was included within payroll and related expenses which also included a benefit of approximately $ 1.0 million due to the change in the forfeiture rate .', 'total compensation expenses recognized for employee stock-based compensation for the year ended december 31 , 2007 was $ 19.0 million .', 'of this amount , $ 16.3 million was included within marketing , selling and administrative expenses and $ 2.7 million was included within payroll and related expenses .', 'the fair value of each stock option grant is estimated on the date of grant using the black-scholes option pricing model .', 'the estimated fair value of stock options , less estimated forfeitures , is amortized over the vesting period using the graded-vesting method .', 'the assumptions used in the black-scholes option-pricing model are as follows : expected volatility was based on a combination of historical and implied volatilities .', 'the risk-free interest rate is based on united states treasury zero coupon issues with a remaining term equal to the expected option life assumed at the date of grant .', 'the expected term was calculated based on historical experience and represents the time period options actually remain outstanding .', 'we estimate forfeitures based on historical pre-vesting forfeiture rates and revise those estimates as appropriate to reflect actual experience .', 'in 2008 , we increased our estimated forfeiture rate from 4% ( 4 % ) for options and 8.5% ( 8.5 % ) for restricted stock units to 20% ( 20 % ) to reflect changes in employee retention rates. .']
##
Data Table:
****************************************
Row 1: , 2009, 2008, 2007
Row 2: dividend yield, 0.0% ( 0.0 % ), 1.9% ( 1.9 % ), 1.3% ( 1.3 % )
Row 3: expected stock price volatility, 55.0% ( 55.0 % ), 31.4% ( 31.4 % ), 28.0% ( 28.0 % )
Row 4: risk-free interest rate, 1.8% ( 1.8 % ), 2.8% ( 2.8 % ), 4.8% ( 4.8 % )
Row 5: expected option life, 5 years, 5 years, 5 years
****************************************
##
Additional Information: ['.'] | 0.76471 | RCL/2009/page_90.pdf-2 | ['royal caribbean cruises ltd .', 'notes to the consolidated financial statements 2014 ( continued ) note 9 .', 'stock-based employee compensation we have four stock-based compensation plans , which provide for awards to our officers , directors and key employees .', 'the plans consist of a 1990 employee stock option plan , a 1995 incentive stock option plan , a 2000 stock award plan , and a 2008 equity plan .', 'the 1990 stock option plan and the 1995 incentive stock option plan terminated by their terms in march 2000 and february 2005 , respectively .', 'the 2000 stock award plan , as amended , and the 2008 equity plan provide for the issuance of ( i ) incentive and non-qualified stock options , ( ii ) stock appreciation rights , ( iii ) restricted stock , ( iv ) restricted stock units and ( v ) up to 13000000 performance shares of our common stock for the 2000 stock award plan and up to 5000000 performance shares of our common stock for the 2008 equity plan .', 'during any calendar year , no one individual shall be granted awards of more than 500000 shares .', 'options and restricted stock units outstanding as of december 31 , 2009 vest in equal installments over four to five years from the date of grant .', 'generally , options and restricted stock units are forfeited if the recipient ceases to be a director or employee before the shares vest .', 'options are granted at a price not less than the fair value of the shares on the date of grant and expire not later than ten years after the date of grant .', 'we also provide an employee stock purchase plan to facilitate the purchase by employees of up to 800000 shares of common stock in the aggregate .', 'offerings to employees are made on a quarterly basis .', 'subject to certain limitations , the purchase price for each share of common stock is equal to 90% ( 90 % ) of the average of the market prices of the common stock as reported on the new york stock exchange on the first business day of the purchase period and the last business day of each month of the purchase period .', 'shares of common stock of 65005 , 36836 and 20759 were issued under the espp at a weighted-average price of $ 12.78 , $ 20.97 and $ 37.25 during 2009 , 2008 and 2007 , respectively .', 'under the chief executive officer 2019s employment agreement we contributed 10086 shares of our common stock quarterly , to a maximum of 806880 shares , to a trust on his behalf .', 'in january 2009 , the employment agreement and related trust agreement were amended .', 'consequently , 768018 shares were distributed from the trust and future quarterly share distributions are issued directly to the chief executive officer .', 'total compensation expenses recognized for employee stock-based compensation for the year ended december 31 , 2009 was $ 16.8 million .', 'of this amount , $ 16.2 million was included within marketing , selling and administrative expenses and $ 0.6 million was included within payroll and related expenses .', 'total compensation expense recognized for employee stock-based compensation for the year ended december 31 , 2008 was $ 5.7 million .', 'of this amount , $ 6.4 million , which included a benefit of approximately $ 8.2 million due to a change in the employee forfeiture rate assumption was included within marketing , selling and administrative expenses and income of $ 0.7 million was included within payroll and related expenses which also included a benefit of approximately $ 1.0 million due to the change in the forfeiture rate .', 'total compensation expenses recognized for employee stock-based compensation for the year ended december 31 , 2007 was $ 19.0 million .', 'of this amount , $ 16.3 million was included within marketing , selling and administrative expenses and $ 2.7 million was included within payroll and related expenses .', 'the fair value of each stock option grant is estimated on the date of grant using the black-scholes option pricing model .', 'the estimated fair value of stock options , less estimated forfeitures , is amortized over the vesting period using the graded-vesting method .', 'the assumptions used in the black-scholes option-pricing model are as follows : expected volatility was based on a combination of historical and implied volatilities .', 'the risk-free interest rate is based on united states treasury zero coupon issues with a remaining term equal to the expected option life assumed at the date of grant .', 'the expected term was calculated based on historical experience and represents the time period options actually remain outstanding .', 'we estimate forfeitures based on historical pre-vesting forfeiture rates and revise those estimates as appropriate to reflect actual experience .', 'in 2008 , we increased our estimated forfeiture rate from 4% ( 4 % ) for options and 8.5% ( 8.5 % ) for restricted stock units to 20% ( 20 % ) to reflect changes in employee retention rates. .'] | ['.'] | ****************************************
Row 1: , 2009, 2008, 2007
Row 2: dividend yield, 0.0% ( 0.0 % ), 1.9% ( 1.9 % ), 1.3% ( 1.3 % )
Row 3: expected stock price volatility, 55.0% ( 55.0 % ), 31.4% ( 31.4 % ), 28.0% ( 28.0 % )
Row 4: risk-free interest rate, 1.8% ( 1.8 % ), 2.8% ( 2.8 % ), 4.8% ( 4.8 % )
Row 5: expected option life, 5 years, 5 years, 5 years
**************************************** | subtract(65005, 36836), divide(#0, 36836) | 0.76471 |
what was the ratio of the company contribution to the pension plan in 2013 to 2014 | Background: ['valuation techniques 2013 cash equivalents are mostly comprised of short-term money-market instruments and are valued at cost , which approximates fair value .', 'u.s .', 'equity securities and international equity securities categorized as level 1 are traded on active national and international exchanges and are valued at their closing prices on the last trading day of the year .', 'for u.s .', 'equity securities and international equity securities not traded on an active exchange , or if the closing price is not available , the trustee obtains indicative quotes from a pricing vendor , broker , or investment manager .', 'these securities are categorized as level 2 if the custodian obtains corroborated quotes from a pricing vendor or categorized as level 3 if the custodian obtains uncorroborated quotes from a broker or investment manager .', 'commingled equity funds are investment vehicles valued using the net asset value ( nav ) provided by the fund managers .', 'the nav is the total value of the fund divided by the number of shares outstanding .', 'commingled equity funds are categorized as level 1 if traded at their nav on a nationally recognized securities exchange or categorized as level 2 if the nav is corroborated by observable market data ( e.g. , purchases or sales activity ) and we are able to redeem our investment in the near-term .', 'fixed income investments categorized as level 2 are valued by the trustee using pricing models that use verifiable observable market data ( e.g. , interest rates and yield curves observable at commonly quoted intervals and credit spreads ) , bids provided by brokers or dealers , or quoted prices of securities with similar characteristics .', 'fixed income investments are categorized at level 3 when valuations using observable inputs are unavailable .', 'the trustee obtains pricing based on indicative quotes or bid evaluations from vendors , brokers , or the investment manager .', 'private equity funds , real estate funds , and hedge funds are valued using the nav based on valuation models of underlying securities which generally include significant unobservable inputs that cannot be corroborated using verifiable observable market data .', 'valuations for private equity funds and real estate funds are determined by the general partners .', 'depending on the nature of the assets , the general partners may use various valuation methodologies , including the income and market approaches in their models .', 'the market approach consists of analyzing market transactions for comparable assets while the income approach uses earnings or the net present value of estimated future cash flows adjusted for liquidity and other risk factors .', 'hedge funds are valued by independent administrators using various pricing sources and models based on the nature of the securities .', 'private equity funds , real estate funds , and hedge funds are generally categorized as level 3 as we cannot fully redeem our investment in the near-term .', 'commodities are traded on an active commodity exchange and are valued at their closing prices on the last trading day of the year .', 'contributions and expected benefit payments we generally determine funding requirements for our defined benefit pension plans in a manner consistent with cas and internal revenue code rules .', 'in 2013 , we made contributions of $ 2.25 billion related to our qualified defined benefit pension plans .', 'we currently plan to make contributions of approximately $ 1.0 billion related to the qualified defined benefit pension plans in 2014 .', 'in 2013 , we made contributions of $ 98 million to our retiree medical and life insurance plans .', 'we do not expect to make contributions related to the retiree medical and life insurance plans in 2014 as a result of our 2013 contributions .', 'the following table presents estimated future benefit payments , which reflect expected future employee service , as of december 31 , 2013 ( in millions ) : .']
##
Data Table:
----------------------------------------
| 2014 | 2015 | 2016 | 2017 | 2018 | 2019 - 2023
qualified defined benefit pension plans | $ 1960 | $ 2030 | $ 2110 | $ 2200 | $ 2300 | $ 13240
retiree medical and life insurance plans | 200 | 210 | 210 | 220 | 220 | 1070
----------------------------------------
##
Post-table: ['defined contribution plans we maintain a number of defined contribution plans , most with 401 ( k ) features , that cover substantially all of our employees .', 'under the provisions of our 401 ( k ) plans , we match most employees 2019 eligible contributions at rates specified in the plan documents .', 'our contributions were $ 383 million in 2013 , $ 380 million in 2012 , and $ 378 million in 2011 , the majority of which were funded in our common stock .', 'our defined contribution plans held approximately 44.7 million and 48.6 million shares of our common stock as of december 31 , 2013 and 2012. .'] | 2.25 | LMT/2013/page_87.pdf-1 | ['valuation techniques 2013 cash equivalents are mostly comprised of short-term money-market instruments and are valued at cost , which approximates fair value .', 'u.s .', 'equity securities and international equity securities categorized as level 1 are traded on active national and international exchanges and are valued at their closing prices on the last trading day of the year .', 'for u.s .', 'equity securities and international equity securities not traded on an active exchange , or if the closing price is not available , the trustee obtains indicative quotes from a pricing vendor , broker , or investment manager .', 'these securities are categorized as level 2 if the custodian obtains corroborated quotes from a pricing vendor or categorized as level 3 if the custodian obtains uncorroborated quotes from a broker or investment manager .', 'commingled equity funds are investment vehicles valued using the net asset value ( nav ) provided by the fund managers .', 'the nav is the total value of the fund divided by the number of shares outstanding .', 'commingled equity funds are categorized as level 1 if traded at their nav on a nationally recognized securities exchange or categorized as level 2 if the nav is corroborated by observable market data ( e.g. , purchases or sales activity ) and we are able to redeem our investment in the near-term .', 'fixed income investments categorized as level 2 are valued by the trustee using pricing models that use verifiable observable market data ( e.g. , interest rates and yield curves observable at commonly quoted intervals and credit spreads ) , bids provided by brokers or dealers , or quoted prices of securities with similar characteristics .', 'fixed income investments are categorized at level 3 when valuations using observable inputs are unavailable .', 'the trustee obtains pricing based on indicative quotes or bid evaluations from vendors , brokers , or the investment manager .', 'private equity funds , real estate funds , and hedge funds are valued using the nav based on valuation models of underlying securities which generally include significant unobservable inputs that cannot be corroborated using verifiable observable market data .', 'valuations for private equity funds and real estate funds are determined by the general partners .', 'depending on the nature of the assets , the general partners may use various valuation methodologies , including the income and market approaches in their models .', 'the market approach consists of analyzing market transactions for comparable assets while the income approach uses earnings or the net present value of estimated future cash flows adjusted for liquidity and other risk factors .', 'hedge funds are valued by independent administrators using various pricing sources and models based on the nature of the securities .', 'private equity funds , real estate funds , and hedge funds are generally categorized as level 3 as we cannot fully redeem our investment in the near-term .', 'commodities are traded on an active commodity exchange and are valued at their closing prices on the last trading day of the year .', 'contributions and expected benefit payments we generally determine funding requirements for our defined benefit pension plans in a manner consistent with cas and internal revenue code rules .', 'in 2013 , we made contributions of $ 2.25 billion related to our qualified defined benefit pension plans .', 'we currently plan to make contributions of approximately $ 1.0 billion related to the qualified defined benefit pension plans in 2014 .', 'in 2013 , we made contributions of $ 98 million to our retiree medical and life insurance plans .', 'we do not expect to make contributions related to the retiree medical and life insurance plans in 2014 as a result of our 2013 contributions .', 'the following table presents estimated future benefit payments , which reflect expected future employee service , as of december 31 , 2013 ( in millions ) : .'] | ['defined contribution plans we maintain a number of defined contribution plans , most with 401 ( k ) features , that cover substantially all of our employees .', 'under the provisions of our 401 ( k ) plans , we match most employees 2019 eligible contributions at rates specified in the plan documents .', 'our contributions were $ 383 million in 2013 , $ 380 million in 2012 , and $ 378 million in 2011 , the majority of which were funded in our common stock .', 'our defined contribution plans held approximately 44.7 million and 48.6 million shares of our common stock as of december 31 , 2013 and 2012. .'] | ----------------------------------------
| 2014 | 2015 | 2016 | 2017 | 2018 | 2019 - 2023
qualified defined benefit pension plans | $ 1960 | $ 2030 | $ 2110 | $ 2200 | $ 2300 | $ 13240
retiree medical and life insurance plans | 200 | 210 | 210 | 220 | 220 | 1070
---------------------------------------- | divide(2.25, 1.0) | 2.25 |
what was the greatest yearly production of crude oil trunk lines? | Background: ['pipeline transportation 2013 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 1737 miles of crude oil lines and 1825 miles of refined product lines comprising 32 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 13 percent of the crude oil and refined product shipments on our mpl and orpl common carrier pipelines in 2009 .', '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 ) 2009 2008 2007 .']
----------
Table:
****************************************
( thousands of barrels per day ) | 2009 | 2008 | 2007
crude oil trunk lines | 1279 | 1405 | 1451
refined products trunk lines | 953 | 960 | 1049
total | 2232 | 2365 | 2500
****************************************
----------
Post-table: ['we also own 196 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 3600 miles of refined products pipelines , including about 970 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 pipelines include the owned and operated 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 .', 'in addition , as of december 31 , 2009 , we had interests in the following refined product pipelines : 2022 65 percent undivided ownership interest in the louisville-lexington system , a petroleum products pipeline system extending from louisville to lexington , kentucky ; 2022 60 percent interest in muskegon pipeline llc , which owns a refined products pipeline extending from griffith , indiana , to north muskegon , michigan ; 2022 50 percent interest in centennial pipeline llc , which owns a refined products system connecting the gulf coast region with the midwest market ; 2022 17 percent interest in explorer pipeline company , a refined products pipeline system extending from the gulf coast to the midwest ; and 2022 6 percent interest in wolverine pipe line company , a refined products pipeline system extending from chicago , illinois , to toledo , ohio .', 'our major owned and operated crude oil lines run from : patoka , illinois , to catlettsburg , kentucky ; patoka , illinois , to robinson , illinois ; patoka , illinois , to lima , ohio ; lima , ohio to canton , ohio ; samaria , michigan , to detroit , michigan ; and st .', 'james , louisiana , to garyville , louisiana .', 'as of december 31 , 2009 , we had interests in the following crude oil pipelines : 2022 51 percent interest in loop llc , the owner and operator of loop , which is the only u.s .', 'deepwater oil port , located 18 miles off the coast of louisiana , and a crude oil pipeline connecting the port facility to storage caverns and tanks at clovelly , louisiana ; 2022 59 percent interest in locap llc , which owns a crude oil pipeline connecting loop and the capline system; .'] | 1451.0 | MRO/2009/page_36.pdf-3 | ['pipeline transportation 2013 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 1737 miles of crude oil lines and 1825 miles of refined product lines comprising 32 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 13 percent of the crude oil and refined product shipments on our mpl and orpl common carrier pipelines in 2009 .', '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 ) 2009 2008 2007 .'] | ['we also own 196 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 3600 miles of refined products pipelines , including about 970 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 pipelines include the owned and operated 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 .', 'in addition , as of december 31 , 2009 , we had interests in the following refined product pipelines : 2022 65 percent undivided ownership interest in the louisville-lexington system , a petroleum products pipeline system extending from louisville to lexington , kentucky ; 2022 60 percent interest in muskegon pipeline llc , which owns a refined products pipeline extending from griffith , indiana , to north muskegon , michigan ; 2022 50 percent interest in centennial pipeline llc , which owns a refined products system connecting the gulf coast region with the midwest market ; 2022 17 percent interest in explorer pipeline company , a refined products pipeline system extending from the gulf coast to the midwest ; and 2022 6 percent interest in wolverine pipe line company , a refined products pipeline system extending from chicago , illinois , to toledo , ohio .', 'our major owned and operated crude oil lines run from : patoka , illinois , to catlettsburg , kentucky ; patoka , illinois , to robinson , illinois ; patoka , illinois , to lima , ohio ; lima , ohio to canton , ohio ; samaria , michigan , to detroit , michigan ; and st .', 'james , louisiana , to garyville , louisiana .', 'as of december 31 , 2009 , we had interests in the following crude oil pipelines : 2022 51 percent interest in loop llc , the owner and operator of loop , which is the only u.s .', 'deepwater oil port , located 18 miles off the coast of louisiana , and a crude oil pipeline connecting the port facility to storage caverns and tanks at clovelly , louisiana ; 2022 59 percent interest in locap llc , which owns a crude oil pipeline connecting loop and the capline system; .'] | ****************************************
( thousands of barrels per day ) | 2009 | 2008 | 2007
crude oil trunk lines | 1279 | 1405 | 1451
refined products trunk lines | 953 | 960 | 1049
total | 2232 | 2365 | 2500
**************************************** | table_max(crude oil trunk lines, none) | 1451.0 |
considering the years 2017-2018 , what is the decrease observed in the weighted-average number of diluted shares? | Background: ['note 18 2013 earnings per share ( eps ) basic eps is calculated by dividing net earnings attributable to allegion plc by the weighted-average number of ordinary shares outstanding for the applicable period .', 'diluted eps is calculated after adjusting the denominator of the basic eps calculation for the effect of all potentially dilutive ordinary shares , which in the company 2019s case , includes shares issuable under share-based compensation plans .', 'the following table summarizes the weighted-average number of ordinary shares outstanding for basic and diluted earnings per share calculations: .']
----------
Table:
****************************************
in millions 2018 2017 2016
weighted-average number of basic shares 95.0 95.1 95.8
shares issuable under incentive stock plans 0.7 0.9 1.1
weighted-average number of diluted shares 95.7 96.0 96.9
****************************************
----------
Follow-up: ['at december 31 , 2018 , 0.1 million stock options were excluded from the computation of weighted-average diluted shares outstanding because the effect of including these shares would have been anti-dilutive .', 'note 19 2013 net revenues net revenues are recognized based on the satisfaction of performance obligations under the terms of a contract .', 'a performance obligation is a promise in a contract to transfer control of a distinct product or to provide a service , or a bundle of products or services , to a customer , and is the unit of account under asc 606 .', 'the company has two principal revenue streams , tangible product sales and services .', 'approximately 99% ( 99 % ) of consolidated net revenues involve contracts with a single performance obligation , which is the transfer of control of a product or bundle of products to a customer .', "transfer of control typically occurs when goods are shipped from the company's facilities or at other predetermined control transfer points ( for instance , destination terms ) .", 'net revenues are measured as the amount of consideration expected to be received in exchange for transferring control of the products and takes into account variable consideration , such as sales incentive programs including discounts and volume rebates .', "the existence of these programs does not preclude revenue recognition but does require the company's best estimate of the variable consideration to be made based on expected activity , as these items are reserved for as a deduction to net revenues over time based on the company's historical rates of providing these incentives and annual forecasted sales volumes .", 'the company also offers a standard warranty with most product sales and the value of such warranty is included in the contractual price .', 'the corresponding cost of the warranty obligation is accrued as a liability ( see note 20 ) .', "the company's remaining net revenues involve services , including installation and consulting .", 'unlike the single performance obligation to ship a product or bundle of products , the service revenue stream delays revenue recognition until the service performance obligations are satisfied .', 'in some instances , customer acceptance provisions are included in sales arrangements to give the buyer the ability to ensure the service meets the criteria established in the order .', 'in these instances , revenue recognition is deferred until the performance obligations are satisfied , which could include acceptance terms specified in the arrangement being fulfilled through customer acceptance or a demonstration that established criteria have been satisfied .', 'during the year ended december 31 , 2018 , no adjustments related to performance obligations satisfied in previous periods were recorded .', 'upon adoption of asc 606 , the company used the practical expedients to omit the disclosure of remaining performance obligations for contracts with an original expected duration of one year or less and for contracts where the company has the right to invoice for performance completed to date .', 'the transaction price is not adjusted for the effects of a significant financing component , as the time period between control transfer of goods and services is less than one year .', 'sales , value-added and other similar taxes collected by the company are excluded from net revenues .', 'the company has also elected to account for shipping and handling activities that occur after control of the related goods transfers as fulfillment activities instead of performance obligations .', 'these activities are included in cost of goods sold in the consolidated statements of comprehensive income .', 'the company 2019s payment terms are generally consistent with the industries in which their businesses operate .', "the following table shows the company's net revenues for the years ended december 31 , based on the two principal revenue streams , tangible product sales and services , disaggregated by business segment .", 'net revenues are shown by tangible product sales and services , as contract terms , conditions and economic factors affecting the nature , amount , timing and uncertainty around revenue recognition and cash flows are substantially similar within each of the two principal revenue streams: .'] | -0.3125 | ALLE/2018/page_121.pdf-2 | ['note 18 2013 earnings per share ( eps ) basic eps is calculated by dividing net earnings attributable to allegion plc by the weighted-average number of ordinary shares outstanding for the applicable period .', 'diluted eps is calculated after adjusting the denominator of the basic eps calculation for the effect of all potentially dilutive ordinary shares , which in the company 2019s case , includes shares issuable under share-based compensation plans .', 'the following table summarizes the weighted-average number of ordinary shares outstanding for basic and diluted earnings per share calculations: .'] | ['at december 31 , 2018 , 0.1 million stock options were excluded from the computation of weighted-average diluted shares outstanding because the effect of including these shares would have been anti-dilutive .', 'note 19 2013 net revenues net revenues are recognized based on the satisfaction of performance obligations under the terms of a contract .', 'a performance obligation is a promise in a contract to transfer control of a distinct product or to provide a service , or a bundle of products or services , to a customer , and is the unit of account under asc 606 .', 'the company has two principal revenue streams , tangible product sales and services .', 'approximately 99% ( 99 % ) of consolidated net revenues involve contracts with a single performance obligation , which is the transfer of control of a product or bundle of products to a customer .', "transfer of control typically occurs when goods are shipped from the company's facilities or at other predetermined control transfer points ( for instance , destination terms ) .", 'net revenues are measured as the amount of consideration expected to be received in exchange for transferring control of the products and takes into account variable consideration , such as sales incentive programs including discounts and volume rebates .', "the existence of these programs does not preclude revenue recognition but does require the company's best estimate of the variable consideration to be made based on expected activity , as these items are reserved for as a deduction to net revenues over time based on the company's historical rates of providing these incentives and annual forecasted sales volumes .", 'the company also offers a standard warranty with most product sales and the value of such warranty is included in the contractual price .', 'the corresponding cost of the warranty obligation is accrued as a liability ( see note 20 ) .', "the company's remaining net revenues involve services , including installation and consulting .", 'unlike the single performance obligation to ship a product or bundle of products , the service revenue stream delays revenue recognition until the service performance obligations are satisfied .', 'in some instances , customer acceptance provisions are included in sales arrangements to give the buyer the ability to ensure the service meets the criteria established in the order .', 'in these instances , revenue recognition is deferred until the performance obligations are satisfied , which could include acceptance terms specified in the arrangement being fulfilled through customer acceptance or a demonstration that established criteria have been satisfied .', 'during the year ended december 31 , 2018 , no adjustments related to performance obligations satisfied in previous periods were recorded .', 'upon adoption of asc 606 , the company used the practical expedients to omit the disclosure of remaining performance obligations for contracts with an original expected duration of one year or less and for contracts where the company has the right to invoice for performance completed to date .', 'the transaction price is not adjusted for the effects of a significant financing component , as the time period between control transfer of goods and services is less than one year .', 'sales , value-added and other similar taxes collected by the company are excluded from net revenues .', 'the company has also elected to account for shipping and handling activities that occur after control of the related goods transfers as fulfillment activities instead of performance obligations .', 'these activities are included in cost of goods sold in the consolidated statements of comprehensive income .', 'the company 2019s payment terms are generally consistent with the industries in which their businesses operate .', "the following table shows the company's net revenues for the years ended december 31 , based on the two principal revenue streams , tangible product sales and services , disaggregated by business segment .", 'net revenues are shown by tangible product sales and services , as contract terms , conditions and economic factors affecting the nature , amount , timing and uncertainty around revenue recognition and cash flows are substantially similar within each of the two principal revenue streams: .'] | ****************************************
in millions 2018 2017 2016
weighted-average number of basic shares 95.0 95.1 95.8
shares issuable under incentive stock plans 0.7 0.9 1.1
weighted-average number of diluted shares 95.7 96.0 96.9
**************************************** | subtract(95.7, 96.0), divide(#0, 96.0), multiply(#1, const_100) | -0.3125 |
prior to the first remarketing date , what is the annual interest cost on the remarketable or redeemable securities ( 2018 2018roars 2019 2019 ) ? | Pre-text: ['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 ) : .']
Data Table:
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. .'] | 14750000.0 | AES/2001/page_85.pdf-2 | ['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 | multiply(200, const_1000000), multiply(#0, 7.375%) | 14750000.0 |
what is the percentage change in the balance of outstanding loan from 2016 to 2017? | Background: ['other long term debt in december 2012 , the company entered into a $ 50.0 million recourse loan collateralized by the land , buildings and tenant improvements comprising the company 2019s corporate headquarters .', 'the loan has a seven year term and maturity date of december 2019 .', 'the loan bears interest at one month libor plus a margin of 1.50% ( 1.50 % ) , and allows for prepayment without penalty .', 'the loan includes covenants and events of default substantially consistent with the company 2019s credit agreement discussed above .', 'the loan also requires prior approval of the lender for certain matters related to the property , including transfers of any interest in the property .', 'as of december 31 , 2017 and 2016 , the outstanding balance on the loan was $ 40.0 million and $ 42.0 million , respectively .', 'the weighted average interest rate on the loan was 2.5% ( 2.5 % ) and 2.0% ( 2.0 % ) for the years ended december 31 , 2017 and 2016 , respectively .', 'the following are the scheduled maturities of long term debt as of december 31 , 2017 : ( in thousands ) .']
------
Data Table:
****************************************
Row 1: 2018, $ 27000
Row 2: 2019, 63000
Row 3: 2020, 25000
Row 4: 2021, 86250
Row 5: 2022, 2014
Row 6: 2023 and thereafter, 600000
Row 7: total scheduled maturities of long term debt, $ 801250
Row 8: current maturities of long term debt, $ 27000
****************************************
------
Additional Information: ['interest expense , net was $ 34.5 million , $ 26.4 million , and $ 14.6 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively .', 'interest expense includes the amortization of deferred financing costs , bank fees , capital and built-to-suit lease interest and interest expense under the credit and other long term debt facilities .', 'amortization of deferred financing costs was $ 1.3 million , $ 1.2 million , and $ 0.8 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively .', 'the company monitors the financial health and stability of its lenders under the credit and other long term debt facilities , however during any period of significant instability in the credit markets lenders could be negatively impacted in their ability to perform under these facilities .', '7 .', 'commitments and contingencies obligations under operating leases the company leases warehouse space , office facilities , space for its brand and factory house stores and certain equipment under non-cancelable operating leases .', 'the leases expire at various dates through 2033 , excluding extensions at the company 2019s option , and include provisions for rental adjustments .', 'the table below includes executed lease agreements for brand and factory house stores that the company did not yet occupy as of december 31 , 2017 and does not include contingent rent the company may incur at its stores based on future sales above a specified minimum or payments made for maintenance , insurance and real estate taxes .', 'the following is a schedule of future minimum lease payments for non-cancelable real property operating leases as of december 31 , 2017 as well as .'] | 0.05 | UAA/2017/page_86.pdf-4 | ['other long term debt in december 2012 , the company entered into a $ 50.0 million recourse loan collateralized by the land , buildings and tenant improvements comprising the company 2019s corporate headquarters .', 'the loan has a seven year term and maturity date of december 2019 .', 'the loan bears interest at one month libor plus a margin of 1.50% ( 1.50 % ) , and allows for prepayment without penalty .', 'the loan includes covenants and events of default substantially consistent with the company 2019s credit agreement discussed above .', 'the loan also requires prior approval of the lender for certain matters related to the property , including transfers of any interest in the property .', 'as of december 31 , 2017 and 2016 , the outstanding balance on the loan was $ 40.0 million and $ 42.0 million , respectively .', 'the weighted average interest rate on the loan was 2.5% ( 2.5 % ) and 2.0% ( 2.0 % ) for the years ended december 31 , 2017 and 2016 , respectively .', 'the following are the scheduled maturities of long term debt as of december 31 , 2017 : ( in thousands ) .'] | ['interest expense , net was $ 34.5 million , $ 26.4 million , and $ 14.6 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively .', 'interest expense includes the amortization of deferred financing costs , bank fees , capital and built-to-suit lease interest and interest expense under the credit and other long term debt facilities .', 'amortization of deferred financing costs was $ 1.3 million , $ 1.2 million , and $ 0.8 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively .', 'the company monitors the financial health and stability of its lenders under the credit and other long term debt facilities , however during any period of significant instability in the credit markets lenders could be negatively impacted in their ability to perform under these facilities .', '7 .', 'commitments and contingencies obligations under operating leases the company leases warehouse space , office facilities , space for its brand and factory house stores and certain equipment under non-cancelable operating leases .', 'the leases expire at various dates through 2033 , excluding extensions at the company 2019s option , and include provisions for rental adjustments .', 'the table below includes executed lease agreements for brand and factory house stores that the company did not yet occupy as of december 31 , 2017 and does not include contingent rent the company may incur at its stores based on future sales above a specified minimum or payments made for maintenance , insurance and real estate taxes .', 'the following is a schedule of future minimum lease payments for non-cancelable real property operating leases as of december 31 , 2017 as well as .'] | ****************************************
Row 1: 2018, $ 27000
Row 2: 2019, 63000
Row 3: 2020, 25000
Row 4: 2021, 86250
Row 5: 2022, 2014
Row 6: 2023 and thereafter, 600000
Row 7: total scheduled maturities of long term debt, $ 801250
Row 8: current maturities of long term debt, $ 27000
**************************************** | subtract(42.0, 40.0), divide(#0, 40.0) | 0.05 |
what percentage of commercial paper outstanding as of december 31 , 2010 was for bank subsidiaries? | Context: ['secured financing is primarily conducted through citi 2019s broker-dealer subsidiaries to facilitate customer matched-book activity and to efficiently fund a portion of the trading inventory .', 'secured financing appears as a liability on citi 2019s consolidated balance sheet ( 201csecurities loaned or sold under agreements to repurchase 201d ) .', 'as of december 31 , 2010 , secured financing was $ 189.6 billion and averaged approximately $ 207 billion during the quarter ended december 31 , 2010 .', 'secured financing at december 31 , 2010 increased by $ 35 billion from $ 154.3 billion at december 31 , 2009 .', 'during the same period , reverse repos and securities borrowing increased by $ 25 billion .', 'the majority of secured financing is collateralized by highly liquid government , government-backed and government agency securities .', 'this collateral comes primarily from citi 2019s trading assets and its secured lending , and is part of citi 2019s client matched-book activity given that citi both borrows and lends similar asset types on a secured basis .', 'the minority of secured financing is collateralized by less liquid collateral , and supports both citi 2019s trading assets as well as the business of secured lending to customers , which is also part of citi 2019s client matched-book activity .', 'the less liquid secured borrowing is carefully calibrated by asset quality , tenor and counterparty exposure , including those that might be sensitive to ratings stresses , in order to increase the reliability of the funding .', 'citi believes there are several potential mitigants available to it in the event of stress on the secured financing markets for less liquid collateral .', 'citi 2019s significant liquidity resources in its non-bank entities as of december 31 , 2010 , supplemented by collateralized liquidity transfers between entities , provide a cushion .', 'within the matched-book activity , the secured lending positions , which are carefully managed in terms of collateral and tenor , could be unwound to provide additional liquidity under stress .', 'citi also has excess funding capacity for less liquid collateral with existing counterparties that can be accessed during potential dislocation .', 'in addition , citi has the ability to adjust the size of select trading books to provide further mitigation .', 'at december 31 , 2010 , commercial paper outstanding for citigroup 2019s non- bank entities and bank subsidiaries , respectively , was as follows : in billions of dollars non-bank bank ( 1 ) citigroup .']
----------
Table:
****************************************
• in billions of dollars, non-bank, bank, -1 ( 1 ), total citigroup
• commercial paper, $ 9.7, $ 15.0, , $ 24.7
****************************************
----------
Additional Information: ['( 1 ) includes $ 15 billion of commercial paper related to vies consolidated effective january 1 , 2010 with the adoption of sfas 166/167 .', 'other short-term borrowings of approximately $ 54 billion ( as set forth in the secured financing and short-term borrowings table above ) include $ 42.4 billion of borrowings from banks and other market participants , which includes borrowings from the federal home loan banks .', 'this represented a decrease of approximately $ 11 billion as compared to year-end 2009 .', 'the average balance of borrowings from banks and other market participants for the quarter ended december 31 , 2010 was approximately $ 43 billion .', 'other short-term borrowings also include $ 11.7 billion of broker borrowings at december 31 , 2010 , which averaged approximately $ 13 billion for the quarter ended december 31 , 2010 .', 'see notes 12 and 19 to the consolidated financial statements for further information on citigroup 2019s and its affiliates 2019 outstanding long-term debt and short-term borrowings .', 'liquidity transfer between entities liquidity is generally transferable within the non-bank , subject to regulatory restrictions ( if any ) and standard legal terms .', 'similarly , the non-bank can generally transfer excess liquidity into citi 2019s bank subsidiaries , such as citibank , n.a .', 'in addition , citigroup 2019s bank subsidiaries , including citibank , n.a. , can lend to the citigroup parent and broker-dealer in accordance with section 23a of the federal reserve act .', 'as of december 31 , 2010 , the amount available for lending under section 23a was approximately $ 26.6 billion , provided the funds are collateralized appropriately. .'] | 0.60729 | C/2010/page_69.pdf-2 | ['secured financing is primarily conducted through citi 2019s broker-dealer subsidiaries to facilitate customer matched-book activity and to efficiently fund a portion of the trading inventory .', 'secured financing appears as a liability on citi 2019s consolidated balance sheet ( 201csecurities loaned or sold under agreements to repurchase 201d ) .', 'as of december 31 , 2010 , secured financing was $ 189.6 billion and averaged approximately $ 207 billion during the quarter ended december 31 , 2010 .', 'secured financing at december 31 , 2010 increased by $ 35 billion from $ 154.3 billion at december 31 , 2009 .', 'during the same period , reverse repos and securities borrowing increased by $ 25 billion .', 'the majority of secured financing is collateralized by highly liquid government , government-backed and government agency securities .', 'this collateral comes primarily from citi 2019s trading assets and its secured lending , and is part of citi 2019s client matched-book activity given that citi both borrows and lends similar asset types on a secured basis .', 'the minority of secured financing is collateralized by less liquid collateral , and supports both citi 2019s trading assets as well as the business of secured lending to customers , which is also part of citi 2019s client matched-book activity .', 'the less liquid secured borrowing is carefully calibrated by asset quality , tenor and counterparty exposure , including those that might be sensitive to ratings stresses , in order to increase the reliability of the funding .', 'citi believes there are several potential mitigants available to it in the event of stress on the secured financing markets for less liquid collateral .', 'citi 2019s significant liquidity resources in its non-bank entities as of december 31 , 2010 , supplemented by collateralized liquidity transfers between entities , provide a cushion .', 'within the matched-book activity , the secured lending positions , which are carefully managed in terms of collateral and tenor , could be unwound to provide additional liquidity under stress .', 'citi also has excess funding capacity for less liquid collateral with existing counterparties that can be accessed during potential dislocation .', 'in addition , citi has the ability to adjust the size of select trading books to provide further mitigation .', 'at december 31 , 2010 , commercial paper outstanding for citigroup 2019s non- bank entities and bank subsidiaries , respectively , was as follows : in billions of dollars non-bank bank ( 1 ) citigroup .'] | ['( 1 ) includes $ 15 billion of commercial paper related to vies consolidated effective january 1 , 2010 with the adoption of sfas 166/167 .', 'other short-term borrowings of approximately $ 54 billion ( as set forth in the secured financing and short-term borrowings table above ) include $ 42.4 billion of borrowings from banks and other market participants , which includes borrowings from the federal home loan banks .', 'this represented a decrease of approximately $ 11 billion as compared to year-end 2009 .', 'the average balance of borrowings from banks and other market participants for the quarter ended december 31 , 2010 was approximately $ 43 billion .', 'other short-term borrowings also include $ 11.7 billion of broker borrowings at december 31 , 2010 , which averaged approximately $ 13 billion for the quarter ended december 31 , 2010 .', 'see notes 12 and 19 to the consolidated financial statements for further information on citigroup 2019s and its affiliates 2019 outstanding long-term debt and short-term borrowings .', 'liquidity transfer between entities liquidity is generally transferable within the non-bank , subject to regulatory restrictions ( if any ) and standard legal terms .', 'similarly , the non-bank can generally transfer excess liquidity into citi 2019s bank subsidiaries , such as citibank , n.a .', 'in addition , citigroup 2019s bank subsidiaries , including citibank , n.a. , can lend to the citigroup parent and broker-dealer in accordance with section 23a of the federal reserve act .', 'as of december 31 , 2010 , the amount available for lending under section 23a was approximately $ 26.6 billion , provided the funds are collateralized appropriately. .'] | ****************************************
• in billions of dollars, non-bank, bank, -1 ( 1 ), total citigroup
• commercial paper, $ 9.7, $ 15.0, , $ 24.7
**************************************** | divide(15.0, 24.7) | 0.60729 |
non cash items represent what percent of cash from operations in 2018? | Context: ['we monitor the status of the capital markets and regularly evaluate the effect that changes in capital market conditions may have on our ability to execute our announced growth plans and fund our liquidity needs .', 'we expect to continue meeting part of our financing and liquidity needs primarily through commercial paper borrowings , issuances of senior notes , and access to long-term committed credit facilities .', 'if conditions in the lodging industry deteriorate , or if disruptions in the capital markets take place as they did in the immediate aftermath of both the 2008 worldwide financial crisis and the events of september 11 , 2001 , we may be unable to place some or all of our commercial paper on a temporary or extended basis and may have to rely more on borrowings under the credit facility , which we believe will be adequate to fund our liquidity needs , including repayment of debt obligations , but which may carry a higher cost than commercial paper .', 'since we continue to have ample flexibility under the credit facility 2019s covenants , we expect that undrawn bank commitments under the credit facility will remain available to us even if business conditions were to deteriorate markedly .', 'cash from operations cash from operations and non-cash items for the last three fiscal years are as follows: .']
Table:
****************************************
Row 1: ( $ in millions ), 2018, 2017, 2016
Row 2: cash from operations, $ 2357, $ 2227, $ 1619
Row 3: non-cash items ( 1 ), 287, 1397, 514
****************************************
Additional Information: ['non-cash items ( 1 ) 287 1397 514 ( 1 ) includes depreciation , amortization , share-based compensation , deferred income taxes , and contract investment amortization .', 'our ratio of current assets to current liabilities was 0.4 to 1.0 at year-end 2018 and 0.5 to 1.0 at year-end 2017 .', 'we minimize working capital through cash management , strict credit-granting policies , and aggressive collection efforts .', 'we also have significant borrowing capacity under our credit facility should we need additional working capital .', 'investing activities cash flows acquisition of a business , net of cash acquired .', 'cash outflows of $ 2392 million in 2016 were due to the starwood combination .', 'see footnote 3 .', 'dispositions and acquisitions for more information .', 'capital expenditures and other investments .', 'we made capital expenditures of $ 556 million in 2018 , $ 240 million in 2017 , and $ 199 million in 2016 .', 'capital expenditures in 2018 increased by $ 316 million compared to 2017 , primarily reflecting the acquisition of the sheraton grand phoenix , improvements to our worldwide systems , and net higher spending on several owned properties .', 'capital expenditures in 2017 increased by $ 41 million compared to 2016 , primarily due to improvements to our worldwide systems and improvements to hotels acquired in the starwood combination .', 'we expect spending on capital expenditures and other investments will total approximately $ 500 million to $ 700 million for 2019 , including acquisitions , loan advances , equity and other investments , contract acquisition costs , and various capital expenditures ( including approximately $ 225 million for maintenance capital spending ) .', 'over time , we have sold lodging properties , both completed and under development , subject to long-term management agreements .', 'the ability of third-party purchasers to raise the debt and equity capital necessary to acquire such properties depends in part on the perceived risks in the lodging industry and other constraints inherent in the capital markets .', 'we monitor the status of the capital markets and regularly evaluate the potential impact of changes in capital market conditions on our business operations .', 'in the starwood combination , we acquired various hotels and joint venture interests in hotels , most of which we have sold or are seeking to sell , and in 2018 , we acquired the sheraton grand phoenix , which we expect to renovate and sell subject to a long-term management agreement .', 'we also expect to continue making selective and opportunistic investments to add units to our lodging business , which may include property acquisitions , new construction , loans , guarantees , and noncontrolling equity investments .', 'over time , we seek to minimize capital invested in our business through asset sales subject to long term operating or franchise agreements .', 'fluctuations in the values of hotel real estate generally have little impact on our overall business results because : ( 1 ) we own less than one percent of hotels that we operate or franchise ; ( 2 ) management and franchise fees are generally based upon hotel revenues and profits rather than current hotel property values ; and ( 3 ) our management agreements generally do not terminate upon hotel sale or foreclosure .', 'dispositions .', 'property and asset sales generated $ 479 million cash proceeds in 2018 and $ 1418 million in 2017 .', 'see footnote 3 .', 'dispositions and acquisitions for more information on dispositions. .'] | 0.12176 | MAR/2018/page_42.pdf-2 | ['we monitor the status of the capital markets and regularly evaluate the effect that changes in capital market conditions may have on our ability to execute our announced growth plans and fund our liquidity needs .', 'we expect to continue meeting part of our financing and liquidity needs primarily through commercial paper borrowings , issuances of senior notes , and access to long-term committed credit facilities .', 'if conditions in the lodging industry deteriorate , or if disruptions in the capital markets take place as they did in the immediate aftermath of both the 2008 worldwide financial crisis and the events of september 11 , 2001 , we may be unable to place some or all of our commercial paper on a temporary or extended basis and may have to rely more on borrowings under the credit facility , which we believe will be adequate to fund our liquidity needs , including repayment of debt obligations , but which may carry a higher cost than commercial paper .', 'since we continue to have ample flexibility under the credit facility 2019s covenants , we expect that undrawn bank commitments under the credit facility will remain available to us even if business conditions were to deteriorate markedly .', 'cash from operations cash from operations and non-cash items for the last three fiscal years are as follows: .'] | ['non-cash items ( 1 ) 287 1397 514 ( 1 ) includes depreciation , amortization , share-based compensation , deferred income taxes , and contract investment amortization .', 'our ratio of current assets to current liabilities was 0.4 to 1.0 at year-end 2018 and 0.5 to 1.0 at year-end 2017 .', 'we minimize working capital through cash management , strict credit-granting policies , and aggressive collection efforts .', 'we also have significant borrowing capacity under our credit facility should we need additional working capital .', 'investing activities cash flows acquisition of a business , net of cash acquired .', 'cash outflows of $ 2392 million in 2016 were due to the starwood combination .', 'see footnote 3 .', 'dispositions and acquisitions for more information .', 'capital expenditures and other investments .', 'we made capital expenditures of $ 556 million in 2018 , $ 240 million in 2017 , and $ 199 million in 2016 .', 'capital expenditures in 2018 increased by $ 316 million compared to 2017 , primarily reflecting the acquisition of the sheraton grand phoenix , improvements to our worldwide systems , and net higher spending on several owned properties .', 'capital expenditures in 2017 increased by $ 41 million compared to 2016 , primarily due to improvements to our worldwide systems and improvements to hotels acquired in the starwood combination .', 'we expect spending on capital expenditures and other investments will total approximately $ 500 million to $ 700 million for 2019 , including acquisitions , loan advances , equity and other investments , contract acquisition costs , and various capital expenditures ( including approximately $ 225 million for maintenance capital spending ) .', 'over time , we have sold lodging properties , both completed and under development , subject to long-term management agreements .', 'the ability of third-party purchasers to raise the debt and equity capital necessary to acquire such properties depends in part on the perceived risks in the lodging industry and other constraints inherent in the capital markets .', 'we monitor the status of the capital markets and regularly evaluate the potential impact of changes in capital market conditions on our business operations .', 'in the starwood combination , we acquired various hotels and joint venture interests in hotels , most of which we have sold or are seeking to sell , and in 2018 , we acquired the sheraton grand phoenix , which we expect to renovate and sell subject to a long-term management agreement .', 'we also expect to continue making selective and opportunistic investments to add units to our lodging business , which may include property acquisitions , new construction , loans , guarantees , and noncontrolling equity investments .', 'over time , we seek to minimize capital invested in our business through asset sales subject to long term operating or franchise agreements .', 'fluctuations in the values of hotel real estate generally have little impact on our overall business results because : ( 1 ) we own less than one percent of hotels that we operate or franchise ; ( 2 ) management and franchise fees are generally based upon hotel revenues and profits rather than current hotel property values ; and ( 3 ) our management agreements generally do not terminate upon hotel sale or foreclosure .', 'dispositions .', 'property and asset sales generated $ 479 million cash proceeds in 2018 and $ 1418 million in 2017 .', 'see footnote 3 .', 'dispositions and acquisitions for more information on dispositions. .'] | ****************************************
Row 1: ( $ in millions ), 2018, 2017, 2016
Row 2: cash from operations, $ 2357, $ 2227, $ 1619
Row 3: non-cash items ( 1 ), 287, 1397, 514
**************************************** | divide(287, 2357) | 0.12176 |
from january 3 2015 to december 31 , how much greater was the return for s&p retail index than for advance auto parts ? ( in a percentage ) | Pre-text: ['stock price performance the following graph shows a comparison of the cumulative total return on our common stock , the standard & poor 2019s 500 index and the standard & poor 2019s retail index .', 'the graph assumes that the value of an investment in our common stock and in each such index was $ 100 on december 31 , 2011 , and that any dividends have been reinvested .', 'the comparison in the graph below is based solely on historical data and is not intended to forecast the possible future performance of our common stock .', 'comparison of cumulative total return among advance auto parts , inc. , s&p 500 index and s&p retail index company/index december 31 , december 29 , december 28 , january 3 , january 2 , december 31 .']
Data Table:
========================================
• company/index, december 31 2011, december 29 2012, december 28 2013, january 3 2015, january 2 2016, december 31 2016
• advance auto parts, $ 100.00, $ 102.87, $ 158.46, $ 228.88, $ 217.49, $ 244.64
• s&p 500 index, 100.00, 114.07, 152.98, 174.56, 177.01, 198.18
• s&p retail index, 100.00, 122.23, 178.55, 196.06, 245.31, 256.69
========================================
Post-table: ['.'] | 0.24039 | AAP/2016/page_26.pdf-3 | ['stock price performance the following graph shows a comparison of the cumulative total return on our common stock , the standard & poor 2019s 500 index and the standard & poor 2019s retail index .', 'the graph assumes that the value of an investment in our common stock and in each such index was $ 100 on december 31 , 2011 , and that any dividends have been reinvested .', 'the comparison in the graph below is based solely on historical data and is not intended to forecast the possible future performance of our common stock .', 'comparison of cumulative total return among advance auto parts , inc. , s&p 500 index and s&p retail index company/index december 31 , december 29 , december 28 , january 3 , january 2 , december 31 .'] | ['.'] | ========================================
• company/index, december 31 2011, december 29 2012, december 28 2013, january 3 2015, january 2 2016, december 31 2016
• advance auto parts, $ 100.00, $ 102.87, $ 158.46, $ 228.88, $ 217.49, $ 244.64
• s&p 500 index, 100.00, 114.07, 152.98, 174.56, 177.01, 198.18
• s&p retail index, 100.00, 122.23, 178.55, 196.06, 245.31, 256.69
======================================== | subtract(244.64, 228.88), subtract(256.69, 196.06), divide(#0, 228.88), divide(#1, 196.06), subtract(#3, #2) | 0.24039 |
what percentage of the total shares purchased were not purchased in october? | Background: ['part ii item 5 2013 market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities ( a ) ( 1 ) our common stock is listed on the new york stock exchange and is traded under the symbol 201cpnc . 201d at the close of business on february 15 , 2013 , there were 75100 common shareholders of record .', 'holders of pnc common stock are entitled to receive dividends when declared by the board of directors out of funds legally available for this purpose .', 'our board of directors may not pay or set apart dividends on the common stock until dividends for all past dividend periods on any series of outstanding preferred stock have been paid or declared and set apart for payment .', 'the board presently intends to continue the policy of paying quarterly cash dividends .', 'the amount of any future dividends will depend on economic and market conditions , our financial condition and operating results , and other factors , including contractual restrictions and applicable government regulations and policies ( such as those relating to the ability of bank and non- bank subsidiaries to pay dividends to the parent company and regulatory capital limitations ) .', 'the amount of our dividend is also currently subject to the results of the federal reserve 2019s 2013 comprehensive capital analysis and review ( ccar ) as part of its supervisory assessment of capital adequacy described under 201csupervision and regulation 201d in item 1 of this report .', 'the federal reserve has the power to prohibit us from paying dividends without its approval .', 'for further information concerning dividend restrictions and restrictions on loans , dividends or advances from bank subsidiaries to the parent company , see 201csupervision and regulation 201d in item 1 of this report , 201cfunding and capital sources 201d in the consolidated balance sheet review section , 201cliquidity risk management 201d in the risk management section , and 201ctrust preferred securities 201d in the off-balance sheet arrangements and variable interest entities section of item 7 of this report , and note 14 capital securities of subsidiary trusts and perpetual trust securities and note 22 regulatory matters in the notes to consolidated financial statements in item 8 of this report , which we include here by reference .', 'we include here by reference additional information relating to pnc common stock under the caption 201ccommon stock prices/dividends declared 201d in the statistical information ( unaudited ) section of item 8 of this report .', 'we include here by reference the information regarding our compensation plans under which pnc equity securities are authorized for issuance as of december 31 , 2012 in the table ( with introductory paragraph and notes ) that appears in item 12 of this report .', 'our registrar , stock transfer agent , and dividend disbursing agent is : computershare trust company , n.a .', '250 royall street canton , ma 02021 800-982-7652 we include here by reference the information that appears under the caption 201ccommon stock performance graph 201d at the end of this item 5 .', '( a ) ( 2 ) none .', '( b ) not applicable .', '( c ) details of our repurchases of pnc common stock during the fourth quarter of 2012 are included in the following table : in thousands , except per share data 2012 period ( a ) total shares purchased ( b ) average paid per total shares purchased as part of publicly announced programs ( c ) maximum number of shares that may yet be purchased under the programs ( c ) .']
------
Table:
****************************************
2012 period ( a ), total sharespurchased ( b ), averagepricepaid pershare, total sharespurchased aspartofpubliclyannouncedprograms ( c ), maximumnumber ofshares thatmay yet bepurchasedundertheprograms ( c )
october 1 2013 31, 13, $ 60.05, , 22552
november 1 2013 30, 750, $ 55.08, 750, 21802
december 1 2013 31, 292, $ 55.74, 251, 21551
total, 1055, $ 55.32, 1001,
****************************************
------
Follow-up: ['( a ) in addition to the repurchases of pnc common stock during the fourth quarter of 2012 included in the table above , pnc redeemed all 5001 shares of its series m preferred stock on december 10 , 2012 as further described below .', 'as part of the national city transaction , we established the pnc non-cumulative perpetual preferred stock , series m ( the 201cseries m preferred stock 201d ) , which mirrored in all material respects the former national city non-cumulative perpetual preferred stock , series e .', 'on december 10 , 2012 , pnc issued $ 500.1 million aggregate liquidation amount ( 5001 shares ) of the series m preferred stock to the national city preferred capital trust i ( the 201ctrust 201d ) as required pursuant to the settlement of a stock purchase contract agreement between the trust and pnc dated as of january 30 , 2008 .', 'immediately upon such issuance , pnc redeemed all 5001 shares of the series m preferred stock from the trust on december 10 , 2012 at a redemption price equal to $ 100000 per share .', '( b ) includes pnc common stock purchased under the program referred to in note ( c ) to this table and pnc common stock purchased in connection with our various employee benefit plans .', 'note 15 employee benefit plans and note 16 stock based compensation plans in the notes to consolidated financial statements in item 8 of this report include additional information regarding our employee benefit plans that use pnc common stock .', '( c ) our current stock repurchase program allows us to purchase up to 25 million shares on the open market or in privately negotiated transactions .', 'this program was authorized on october 4 , 2007 and will remain in effect until fully utilized or until modified , superseded or terminated .', 'the extent and timing of share repurchases under this program will depend on a number of factors including , among others , market and general economic conditions , economic capital and regulatory capital considerations , alternative uses of capital , the potential impact on our credit ratings , and contractual and regulatory limitations , including the impact of the federal reserve 2019s supervisory assessment of capital adequacy program .', 'the pnc financial services group , inc .', '2013 form 10-k 27 .'] | 0.98768 | PNC/2012/page_46.pdf-2 | ['part ii item 5 2013 market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities ( a ) ( 1 ) our common stock is listed on the new york stock exchange and is traded under the symbol 201cpnc . 201d at the close of business on february 15 , 2013 , there were 75100 common shareholders of record .', 'holders of pnc common stock are entitled to receive dividends when declared by the board of directors out of funds legally available for this purpose .', 'our board of directors may not pay or set apart dividends on the common stock until dividends for all past dividend periods on any series of outstanding preferred stock have been paid or declared and set apart for payment .', 'the board presently intends to continue the policy of paying quarterly cash dividends .', 'the amount of any future dividends will depend on economic and market conditions , our financial condition and operating results , and other factors , including contractual restrictions and applicable government regulations and policies ( such as those relating to the ability of bank and non- bank subsidiaries to pay dividends to the parent company and regulatory capital limitations ) .', 'the amount of our dividend is also currently subject to the results of the federal reserve 2019s 2013 comprehensive capital analysis and review ( ccar ) as part of its supervisory assessment of capital adequacy described under 201csupervision and regulation 201d in item 1 of this report .', 'the federal reserve has the power to prohibit us from paying dividends without its approval .', 'for further information concerning dividend restrictions and restrictions on loans , dividends or advances from bank subsidiaries to the parent company , see 201csupervision and regulation 201d in item 1 of this report , 201cfunding and capital sources 201d in the consolidated balance sheet review section , 201cliquidity risk management 201d in the risk management section , and 201ctrust preferred securities 201d in the off-balance sheet arrangements and variable interest entities section of item 7 of this report , and note 14 capital securities of subsidiary trusts and perpetual trust securities and note 22 regulatory matters in the notes to consolidated financial statements in item 8 of this report , which we include here by reference .', 'we include here by reference additional information relating to pnc common stock under the caption 201ccommon stock prices/dividends declared 201d in the statistical information ( unaudited ) section of item 8 of this report .', 'we include here by reference the information regarding our compensation plans under which pnc equity securities are authorized for issuance as of december 31 , 2012 in the table ( with introductory paragraph and notes ) that appears in item 12 of this report .', 'our registrar , stock transfer agent , and dividend disbursing agent is : computershare trust company , n.a .', '250 royall street canton , ma 02021 800-982-7652 we include here by reference the information that appears under the caption 201ccommon stock performance graph 201d at the end of this item 5 .', '( a ) ( 2 ) none .', '( b ) not applicable .', '( c ) details of our repurchases of pnc common stock during the fourth quarter of 2012 are included in the following table : in thousands , except per share data 2012 period ( a ) total shares purchased ( b ) average paid per total shares purchased as part of publicly announced programs ( c ) maximum number of shares that may yet be purchased under the programs ( c ) .'] | ['( a ) in addition to the repurchases of pnc common stock during the fourth quarter of 2012 included in the table above , pnc redeemed all 5001 shares of its series m preferred stock on december 10 , 2012 as further described below .', 'as part of the national city transaction , we established the pnc non-cumulative perpetual preferred stock , series m ( the 201cseries m preferred stock 201d ) , which mirrored in all material respects the former national city non-cumulative perpetual preferred stock , series e .', 'on december 10 , 2012 , pnc issued $ 500.1 million aggregate liquidation amount ( 5001 shares ) of the series m preferred stock to the national city preferred capital trust i ( the 201ctrust 201d ) as required pursuant to the settlement of a stock purchase contract agreement between the trust and pnc dated as of january 30 , 2008 .', 'immediately upon such issuance , pnc redeemed all 5001 shares of the series m preferred stock from the trust on december 10 , 2012 at a redemption price equal to $ 100000 per share .', '( b ) includes pnc common stock purchased under the program referred to in note ( c ) to this table and pnc common stock purchased in connection with our various employee benefit plans .', 'note 15 employee benefit plans and note 16 stock based compensation plans in the notes to consolidated financial statements in item 8 of this report include additional information regarding our employee benefit plans that use pnc common stock .', '( c ) our current stock repurchase program allows us to purchase up to 25 million shares on the open market or in privately negotiated transactions .', 'this program was authorized on october 4 , 2007 and will remain in effect until fully utilized or until modified , superseded or terminated .', 'the extent and timing of share repurchases under this program will depend on a number of factors including , among others , market and general economic conditions , economic capital and regulatory capital considerations , alternative uses of capital , the potential impact on our credit ratings , and contractual and regulatory limitations , including the impact of the federal reserve 2019s supervisory assessment of capital adequacy program .', 'the pnc financial services group , inc .', '2013 form 10-k 27 .'] | ****************************************
2012 period ( a ), total sharespurchased ( b ), averagepricepaid pershare, total sharespurchased aspartofpubliclyannouncedprograms ( c ), maximumnumber ofshares thatmay yet bepurchasedundertheprograms ( c )
october 1 2013 31, 13, $ 60.05, , 22552
november 1 2013 30, 750, $ 55.08, 750, 21802
december 1 2013 31, 292, $ 55.74, 251, 21551
total, 1055, $ 55.32, 1001,
**************************************** | add(750, 292), divide(#0, 1055) | 0.98768 |
what was the percentage of the shares purchase of the maximum number of shares that may yet be purchased under the plans | Pre-text: ['j a c k h e n r y .', 'c o m 1 5 market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities the company 2019s common stock is quoted on the nasdaq global select market ( 201cnasdaq 201d ) under the symbol 201cjkhy 201d .', 'the company established a practice of paying quarterly dividends at the end of fiscal 1990 and has paid dividends with respect to every quarter since that time .', 'the declaration and payment of any future dividends will continue to be at the discretion of our board of directors and will depend upon , among other factors , our earnings , capital requirements , contractual restrictions , and operating and financial condition .', 'the company does not currently foresee any changes in its dividend practices .', 'on august 15 , 2019 , there were approximately 145300 holders of the company 2019s common stock , including individual participants in security position listings .', 'on that same date the last sale price of the common shares as reported on nasdaq was $ 141.94 per share .', 'issuer purchases of equity securities the following shares of the company were repurchased during the quarter ended june 30 , 2019 : total number of shares purchased ( 1 ) average price of total number of shares purchased as part of publicly announced plans ( 1 ) maximum number of shares that may yet be purchased under the plans ( 2 ) .']
----
Tabular Data:
total number of shares purchased ( 1 ) average price of share total number of shares purchased as part of publicly announced plans ( 1 ) maximum number of shares that may yet be purchased under the plans ( 2 )
april 1- april 30 2019 2014 $ 2014 2014 3732713
may 1- may 31 2019 250000 $ 134.35 250000 3482713
june 1- june 30 2019 2014 $ 2014 2014 3482713
total 250000 $ 134.35 250000 3482713
----
Post-table: ['( 1 ) 250000 shares were purchased through a publicly announced repurchase plan .', 'there were no shares surrendered to the company to satisfy tax withholding obligations in connection with employee restricted stock awards .', '( 2 ) total stock repurchase authorizations approved by the company 2019s board of directors as of february 17 , 2015 were for 30.0 million shares .', 'these authorizations have no specific dollar or share price targets and no expiration dates. .'] | 0.07178 | JKHY/2019/page_17.pdf-4 | ['j a c k h e n r y .', 'c o m 1 5 market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities the company 2019s common stock is quoted on the nasdaq global select market ( 201cnasdaq 201d ) under the symbol 201cjkhy 201d .', 'the company established a practice of paying quarterly dividends at the end of fiscal 1990 and has paid dividends with respect to every quarter since that time .', 'the declaration and payment of any future dividends will continue to be at the discretion of our board of directors and will depend upon , among other factors , our earnings , capital requirements , contractual restrictions , and operating and financial condition .', 'the company does not currently foresee any changes in its dividend practices .', 'on august 15 , 2019 , there were approximately 145300 holders of the company 2019s common stock , including individual participants in security position listings .', 'on that same date the last sale price of the common shares as reported on nasdaq was $ 141.94 per share .', 'issuer purchases of equity securities the following shares of the company were repurchased during the quarter ended june 30 , 2019 : total number of shares purchased ( 1 ) average price of total number of shares purchased as part of publicly announced plans ( 1 ) maximum number of shares that may yet be purchased under the plans ( 2 ) .'] | ['( 1 ) 250000 shares were purchased through a publicly announced repurchase plan .', 'there were no shares surrendered to the company to satisfy tax withholding obligations in connection with employee restricted stock awards .', '( 2 ) total stock repurchase authorizations approved by the company 2019s board of directors as of february 17 , 2015 were for 30.0 million shares .', 'these authorizations have no specific dollar or share price targets and no expiration dates. .'] | total number of shares purchased ( 1 ) average price of share total number of shares purchased as part of publicly announced plans ( 1 ) maximum number of shares that may yet be purchased under the plans ( 2 )
april 1- april 30 2019 2014 $ 2014 2014 3732713
may 1- may 31 2019 250000 $ 134.35 250000 3482713
june 1- june 30 2019 2014 $ 2014 2014 3482713
total 250000 $ 134.35 250000 3482713 | divide(250000, 3482713) | 0.07178 |
what was the ratio of the provision for credit losses in 2014 compared 2013 . | Background: ['2022 timing of available information , including the performance of first lien positions , and 2022 limitations of available historical data .', 'pnc 2019s determination of the alll for non-impaired loans is sensitive to the risk grades assigned to commercial loans and loss rates for consumer loans .', 'there are several other qualitative and quantitative factors considered in determining the alll .', 'this sensitivity analysis does not necessarily reflect the nature and extent of future changes in the alll .', 'it is intended to provide insight into the impact of adverse changes to risk grades and loss rates only and does not imply any expectation of future deterioration in the risk ratings or loss rates .', 'given the current processes used , we believe the risk grades and loss rates currently assigned are appropriate .', 'in the hypothetical event that the aggregate weighted average commercial loan risk grades would experience a 1% ( 1 % ) deterioration , assuming all other variables remain constant , the allowance for commercial loans would increase by approximately $ 35 million as of december 31 , 2014 .', 'in the hypothetical event that consumer loss rates would increase by 10% ( 10 % ) , assuming all other variables remain constant , the allowance for consumer loans would increase by approximately $ 37 million at december 31 , 2014 .', 'purchased impaired loans are initially recorded at fair value and applicable accounting guidance prohibits the carry over or creation of valuation allowances at acquisition .', 'because the initial fair values of these loans already reflect a credit component , additional reserves are established when performance is expected to be worse than our expectations as of the acquisition date .', 'at december 31 , 2014 , we had established reserves of $ .9 billion for purchased impaired loans .', 'in addition , loans ( purchased impaired and non- impaired ) acquired after january 1 , 2009 were recorded at fair value .', 'no allowance for loan losses was carried over and no allowance was created at the date of acquisition .', 'see note 4 purchased loans in the notes to consolidated financial statements in item 8 of this report for additional information .', 'in determining the appropriateness of the alll , we make specific allocations to impaired loans and allocations to portfolios of commercial and consumer loans .', 'we also allocate reserves to provide coverage for probable losses incurred in the portfolio at the balance sheet date based upon current market conditions , which may not be reflected in historical loss data .', 'commercial lending is the largest category of credits and is sensitive to changes in assumptions and judgments underlying the determination of the alll .', 'we have allocated approximately $ 1.6 billion , or 47% ( 47 % ) , of the alll at december 31 , 2014 to the commercial lending category .', 'consumer lending allocations are made based on historical loss experience adjusted for recent activity .', 'approximately $ 1.7 billion , or 53% ( 53 % ) , of the alll at december 31 , 2014 has been allocated to these consumer lending categories .', 'in addition to the alll , we maintain an allowance for unfunded loan commitments and letters of credit .', 'we report this allowance as a liability on our consolidated balance sheet .', 'we maintain the allowance for unfunded loan commitments and letters of credit at a level we believe is appropriate to absorb estimated probable losses on these unfunded credit facilities .', 'we determine this amount using estimates of the probability of the ultimate funding and losses related to those credit exposures .', 'other than the estimation of the probability of funding , this methodology is very similar to the one we use for determining our alll .', 'we refer you to note 1 accounting policies and note 3 asset quality in the notes to consolidated financial statements in item 8 of this report for further information on certain key asset quality indicators that we use to evaluate our portfolios and establish the allowances .', 'table 41 : allowance for loan and lease losses .']
--------
Table:
========================================
dollars in millions | 2014 | 2013
january 1 | $ 3609 | $ 4036
total net charge-offs ( a ) | -531 ( 531 ) | -1077 ( 1077 )
provision for credit losses | 273 | 643
net change in allowance for unfunded loan commitments and letters of credit | -17 ( 17 ) | 8
other | -3 ( 3 ) | -1 ( 1 )
december 31 | $ 3331 | $ 3609
net charge-offs to average loans ( for the year ended ) ( a ) | .27% ( .27 % ) | .57% ( .57 % )
allowance for loan and lease losses to total loans | 1.63 | 1.84
commercial lending net charge-offs | $ -55 ( 55 ) | $ -249 ( 249 )
consumer lending net charge-offs ( a ) | -476 ( 476 ) | -828 ( 828 )
total net charge-offs | $ -531 ( 531 ) | $ -1077 ( 1077 )
net charge-offs to average loans ( for the year ended ) | |
commercial lending | .04% ( .04 % ) | .22% ( .22 % )
consumer lending ( a ) | 0.62 | 1.07
========================================
--------
Follow-up: ['( a ) includes charge-offs of $ 134 million taken pursuant to alignment with interagency guidance on practices for loans and lines of credit related to consumer lending in the first quarter of 2013 .', 'the provision for credit losses totaled $ 273 million for 2014 compared to $ 643 million for 2013 .', 'the primary drivers of the decrease to the provision were improved overall credit quality , including lower consumer loan delinquencies , and the increasing value of residential real estate which resulted in greater expected cash flows from our purchased impaired loans .', 'for 2014 , the provision for commercial lending credit losses increased by $ 64 million , or 178% ( 178 % ) , from 2013 primarily due to continued growth in the commercial book , paired with slowing of the reserve releases related to credit quality improvement .', 'the provision for consumer lending credit losses decreased $ 434 million , or 71% ( 71 % ) , from 2013 .', 'the pnc financial services group , inc .', '2013 form 10-k 81 .'] | 0.42457 | PNC/2014/page_99.pdf-2 | ['2022 timing of available information , including the performance of first lien positions , and 2022 limitations of available historical data .', 'pnc 2019s determination of the alll for non-impaired loans is sensitive to the risk grades assigned to commercial loans and loss rates for consumer loans .', 'there are several other qualitative and quantitative factors considered in determining the alll .', 'this sensitivity analysis does not necessarily reflect the nature and extent of future changes in the alll .', 'it is intended to provide insight into the impact of adverse changes to risk grades and loss rates only and does not imply any expectation of future deterioration in the risk ratings or loss rates .', 'given the current processes used , we believe the risk grades and loss rates currently assigned are appropriate .', 'in the hypothetical event that the aggregate weighted average commercial loan risk grades would experience a 1% ( 1 % ) deterioration , assuming all other variables remain constant , the allowance for commercial loans would increase by approximately $ 35 million as of december 31 , 2014 .', 'in the hypothetical event that consumer loss rates would increase by 10% ( 10 % ) , assuming all other variables remain constant , the allowance for consumer loans would increase by approximately $ 37 million at december 31 , 2014 .', 'purchased impaired loans are initially recorded at fair value and applicable accounting guidance prohibits the carry over or creation of valuation allowances at acquisition .', 'because the initial fair values of these loans already reflect a credit component , additional reserves are established when performance is expected to be worse than our expectations as of the acquisition date .', 'at december 31 , 2014 , we had established reserves of $ .9 billion for purchased impaired loans .', 'in addition , loans ( purchased impaired and non- impaired ) acquired after january 1 , 2009 were recorded at fair value .', 'no allowance for loan losses was carried over and no allowance was created at the date of acquisition .', 'see note 4 purchased loans in the notes to consolidated financial statements in item 8 of this report for additional information .', 'in determining the appropriateness of the alll , we make specific allocations to impaired loans and allocations to portfolios of commercial and consumer loans .', 'we also allocate reserves to provide coverage for probable losses incurred in the portfolio at the balance sheet date based upon current market conditions , which may not be reflected in historical loss data .', 'commercial lending is the largest category of credits and is sensitive to changes in assumptions and judgments underlying the determination of the alll .', 'we have allocated approximately $ 1.6 billion , or 47% ( 47 % ) , of the alll at december 31 , 2014 to the commercial lending category .', 'consumer lending allocations are made based on historical loss experience adjusted for recent activity .', 'approximately $ 1.7 billion , or 53% ( 53 % ) , of the alll at december 31 , 2014 has been allocated to these consumer lending categories .', 'in addition to the alll , we maintain an allowance for unfunded loan commitments and letters of credit .', 'we report this allowance as a liability on our consolidated balance sheet .', 'we maintain the allowance for unfunded loan commitments and letters of credit at a level we believe is appropriate to absorb estimated probable losses on these unfunded credit facilities .', 'we determine this amount using estimates of the probability of the ultimate funding and losses related to those credit exposures .', 'other than the estimation of the probability of funding , this methodology is very similar to the one we use for determining our alll .', 'we refer you to note 1 accounting policies and note 3 asset quality in the notes to consolidated financial statements in item 8 of this report for further information on certain key asset quality indicators that we use to evaluate our portfolios and establish the allowances .', 'table 41 : allowance for loan and lease losses .'] | ['( a ) includes charge-offs of $ 134 million taken pursuant to alignment with interagency guidance on practices for loans and lines of credit related to consumer lending in the first quarter of 2013 .', 'the provision for credit losses totaled $ 273 million for 2014 compared to $ 643 million for 2013 .', 'the primary drivers of the decrease to the provision were improved overall credit quality , including lower consumer loan delinquencies , and the increasing value of residential real estate which resulted in greater expected cash flows from our purchased impaired loans .', 'for 2014 , the provision for commercial lending credit losses increased by $ 64 million , or 178% ( 178 % ) , from 2013 primarily due to continued growth in the commercial book , paired with slowing of the reserve releases related to credit quality improvement .', 'the provision for consumer lending credit losses decreased $ 434 million , or 71% ( 71 % ) , from 2013 .', 'the pnc financial services group , inc .', '2013 form 10-k 81 .'] | ========================================
dollars in millions | 2014 | 2013
january 1 | $ 3609 | $ 4036
total net charge-offs ( a ) | -531 ( 531 ) | -1077 ( 1077 )
provision for credit losses | 273 | 643
net change in allowance for unfunded loan commitments and letters of credit | -17 ( 17 ) | 8
other | -3 ( 3 ) | -1 ( 1 )
december 31 | $ 3331 | $ 3609
net charge-offs to average loans ( for the year ended ) ( a ) | .27% ( .27 % ) | .57% ( .57 % )
allowance for loan and lease losses to total loans | 1.63 | 1.84
commercial lending net charge-offs | $ -55 ( 55 ) | $ -249 ( 249 )
consumer lending net charge-offs ( a ) | -476 ( 476 ) | -828 ( 828 )
total net charge-offs | $ -531 ( 531 ) | $ -1077 ( 1077 )
net charge-offs to average loans ( for the year ended ) | |
commercial lending | .04% ( .04 % ) | .22% ( .22 % )
consumer lending ( a ) | 0.62 | 1.07
======================================== | divide(273, 643) | 0.42457 |
what was the percent of the total treatment regiment for prove1 for the 48-weeks of therapy with peg-ifn and rbv | Background: ['united states , fail to either complete treatment or show a long-term sustained response to therapy .', 'as a result , we believe new safe and effective treatment options for hcv infection are needed .', 'telaprevir development program we are conducting three major phase 2b clinical trials of telaprevir .', 'prove 1 is ongoing in the united states and prove 2 is ongoing in european union , both in treatment-na efve patients .', 'prove 3 has commenced and is being conducted with patients in north america and the european union who did not achieve sustained viral response with previous interferon-based treatments .', 'prove 1 and prove 2 are fully enrolled , and we commenced patient enrollment in prove 3 in january 2007 .', 'prove 1 and prove 2 we expect that together , the prove 1 and prove 2 clinical trials will evaluate rates of sustained viral response , or svr , in approximately 580 treatment-na efve patients infected with genotype 1 hcv , including patients who will receive telaprevir and patients in the control arms .', 'svr is defined as undetectable viral levels 24 weeks after all treatment has ceased .', 'a description of each of the clinical trial arms for the prove 1 and prove 2 clinical trials , including the intended number of patients in each trial , is set forth in the following table : the prove 1 and prove 2 clinical trials together have the following four key objectives : 2022 to evaluate the optimal svr rate that can be achieved with telaprevir therapy in combination with peg-ifn and rbv ; 2022 to evaluate the optimal treatment duration for telaprevir combination therapy ; 2022 to evaluate the role of rbv in telaprevir-based therapy ; and 2022 to evaluate the safety of telaprevir in combination with peg-ifn and rbv .', 'in the prove 1 and prove 2 clinical trials , patients receive telaprevir in a tablet formulation at a dose of 750 mg every eight hours for 12 weeks .', 'the prove 1 clinical trial is double-blinded and placebo-controlled , and the prove 2 clinical trial is partially-blinded and placebo-controlled .', 'in december 2006 , we announced results from a planned interim safety and antiviral activity analysis that was conducted and reviewed by the independent data monitoring committee overseeing the prove 1 clinical trial .', 'as of the cut-off date of the interim analysis , a total of 250 patients had been enrolled in the prove 1 clinical trial and received at least one dose of telaprevir or placebo .', 'in the data reported , the patients in all three telaprevir-containing arms ( approximately 175 patients ) were pooled together and the results were compared to the results in the control arm of peg-ifn and rbv and placebo ( approximately 75 patients ) .', 'at the time of the data cut-off for the safety analysis , approximately 100 patients had completed 12 weeks on-study and more than 200 patients had completed eight weeks .', 'the most common adverse treatment regimen number of patients ( treatment na efve ) prove 1 number of patients ( treatment na efve ) prove 2 total .']
------
Data Table:
****************************************
treatment regimen | number of patients ( treatment na efve ) prove 1 | number of patients ( treatment na efve ) prove 2 | total
12-week regimens of telaprevir in combination with peg-ifn and rbv | 20 | 80 | 100
12-week regimens of telaprevir in combination with only peg-ifn | 0 | 80 | 80
12-week regimens of telaprevir in combination with peg-ifn and rbv followed by 12 weeks of therapy with peg-ifn and rbv | 80 | 80 | 160
12-week regimens of telaprevir in combination with peg-ifn and rbv followed by 36 weeks of therapy with peg-ifn and rbv | 80 | 0 | 80
48-weeks of therapy with peg-ifn and rbv | 80 | 80 | 160
total | 260 | 320 | 580
****************************************
------
Follow-up: ['.'] | 0.30769 | VRTX/2006/page_8.pdf-1 | ['united states , fail to either complete treatment or show a long-term sustained response to therapy .', 'as a result , we believe new safe and effective treatment options for hcv infection are needed .', 'telaprevir development program we are conducting three major phase 2b clinical trials of telaprevir .', 'prove 1 is ongoing in the united states and prove 2 is ongoing in european union , both in treatment-na efve patients .', 'prove 3 has commenced and is being conducted with patients in north america and the european union who did not achieve sustained viral response with previous interferon-based treatments .', 'prove 1 and prove 2 are fully enrolled , and we commenced patient enrollment in prove 3 in january 2007 .', 'prove 1 and prove 2 we expect that together , the prove 1 and prove 2 clinical trials will evaluate rates of sustained viral response , or svr , in approximately 580 treatment-na efve patients infected with genotype 1 hcv , including patients who will receive telaprevir and patients in the control arms .', 'svr is defined as undetectable viral levels 24 weeks after all treatment has ceased .', 'a description of each of the clinical trial arms for the prove 1 and prove 2 clinical trials , including the intended number of patients in each trial , is set forth in the following table : the prove 1 and prove 2 clinical trials together have the following four key objectives : 2022 to evaluate the optimal svr rate that can be achieved with telaprevir therapy in combination with peg-ifn and rbv ; 2022 to evaluate the optimal treatment duration for telaprevir combination therapy ; 2022 to evaluate the role of rbv in telaprevir-based therapy ; and 2022 to evaluate the safety of telaprevir in combination with peg-ifn and rbv .', 'in the prove 1 and prove 2 clinical trials , patients receive telaprevir in a tablet formulation at a dose of 750 mg every eight hours for 12 weeks .', 'the prove 1 clinical trial is double-blinded and placebo-controlled , and the prove 2 clinical trial is partially-blinded and placebo-controlled .', 'in december 2006 , we announced results from a planned interim safety and antiviral activity analysis that was conducted and reviewed by the independent data monitoring committee overseeing the prove 1 clinical trial .', 'as of the cut-off date of the interim analysis , a total of 250 patients had been enrolled in the prove 1 clinical trial and received at least one dose of telaprevir or placebo .', 'in the data reported , the patients in all three telaprevir-containing arms ( approximately 175 patients ) were pooled together and the results were compared to the results in the control arm of peg-ifn and rbv and placebo ( approximately 75 patients ) .', 'at the time of the data cut-off for the safety analysis , approximately 100 patients had completed 12 weeks on-study and more than 200 patients had completed eight weeks .', 'the most common adverse treatment regimen number of patients ( treatment na efve ) prove 1 number of patients ( treatment na efve ) prove 2 total .'] | ['.'] | ****************************************
treatment regimen | number of patients ( treatment na efve ) prove 1 | number of patients ( treatment na efve ) prove 2 | total
12-week regimens of telaprevir in combination with peg-ifn and rbv | 20 | 80 | 100
12-week regimens of telaprevir in combination with only peg-ifn | 0 | 80 | 80
12-week regimens of telaprevir in combination with peg-ifn and rbv followed by 12 weeks of therapy with peg-ifn and rbv | 80 | 80 | 160
12-week regimens of telaprevir in combination with peg-ifn and rbv followed by 36 weeks of therapy with peg-ifn and rbv | 80 | 0 | 80
48-weeks of therapy with peg-ifn and rbv | 80 | 80 | 160
total | 260 | 320 | 580
**************************************** | divide(80, 260) | 0.30769 |
what is the mark-to-market as a percentage of the decrease in net revenue from 2012 to 2013? | Background: ['the grand gulf recovery variance is primarily due to increased recovery of higher costs resulting from the grand gulf uprate .', 'the volume/weather variance is primarily due to the effects of more favorable weather on residential sales and an increase in industrial sales primarily due to growth in the refining segment .', 'the fuel recovery variance is primarily due to : 2022 the deferral of increased capacity costs that will be recovered through fuel adjustment clauses ; 2022 the expiration of the evangeline gas contract on january 1 , 2013 ; and 2022 an adjustment to deferred fuel costs recorded in the third quarter 2012 in accordance with a rate order from the puct issued in september 2012 .', "see note 2 to the financial statements for further discussion of this puct order issued in entergy texas's 2011 rate case .", 'the miso deferral variance is primarily due to the deferral in april 2013 , as approved by the apsc , of costs incurred since march 2010 related to the transition and implementation of joining the miso rto .', 'the decommissioning trusts variance is primarily due to lower regulatory credits resulting from higher realized income on decommissioning trust fund investments .', 'there is no effect on net income as the credits are offset by interest and investment income .', 'entergy wholesale commodities following is an analysis of the change in net revenue comparing 2013 to 2012 .', 'amount ( in millions ) .']
Tabular Data:
amount ( in millions )
2012 net revenue $ 1854
mark-to-market -58 ( 58 )
nuclear volume -24 ( 24 )
nuclear fuel expenses -20 ( 20 )
nuclear realized price changes 58
other -8 ( 8 )
2013 net revenue $ 1802
Additional Information: ['as shown in the table above , net revenue for entergy wholesale commodities decreased by approximately $ 52 million in 2013 primarily due to : 2022 the effect of rising forward power prices on electricity derivative instruments that are not designated as hedges , including additional financial power sales conducted in the fourth quarter 2013 to offset the planned exercise of in-the-money protective call options and to lock in margins .', 'these additional sales did not qualify for hedge accounting treatment , and increases in forward prices after those sales were made accounted for the majority of the negative mark-to-market variance .', 'it is expected that the underlying transactions will result in earnings in first quarter 2014 as these positions settle .', 'see note 16 to the financial statements for discussion of derivative instruments ; 2022 the decrease in net revenue compared to prior year resulting from the exercise of resupply options provided for in purchase power agreements where entergy wholesale commodities may elect to supply power from another source when the plant is not running .', "amounts related to the exercise of resupply options are included in the gwh billed in the table below ; and entergy corporation and subsidiaries management's financial discussion and analysis ."] | 1.11538 | ETR/2013/page_15.pdf-2 | ['the grand gulf recovery variance is primarily due to increased recovery of higher costs resulting from the grand gulf uprate .', 'the volume/weather variance is primarily due to the effects of more favorable weather on residential sales and an increase in industrial sales primarily due to growth in the refining segment .', 'the fuel recovery variance is primarily due to : 2022 the deferral of increased capacity costs that will be recovered through fuel adjustment clauses ; 2022 the expiration of the evangeline gas contract on january 1 , 2013 ; and 2022 an adjustment to deferred fuel costs recorded in the third quarter 2012 in accordance with a rate order from the puct issued in september 2012 .', "see note 2 to the financial statements for further discussion of this puct order issued in entergy texas's 2011 rate case .", 'the miso deferral variance is primarily due to the deferral in april 2013 , as approved by the apsc , of costs incurred since march 2010 related to the transition and implementation of joining the miso rto .', 'the decommissioning trusts variance is primarily due to lower regulatory credits resulting from higher realized income on decommissioning trust fund investments .', 'there is no effect on net income as the credits are offset by interest and investment income .', 'entergy wholesale commodities following is an analysis of the change in net revenue comparing 2013 to 2012 .', 'amount ( in millions ) .'] | ['as shown in the table above , net revenue for entergy wholesale commodities decreased by approximately $ 52 million in 2013 primarily due to : 2022 the effect of rising forward power prices on electricity derivative instruments that are not designated as hedges , including additional financial power sales conducted in the fourth quarter 2013 to offset the planned exercise of in-the-money protective call options and to lock in margins .', 'these additional sales did not qualify for hedge accounting treatment , and increases in forward prices after those sales were made accounted for the majority of the negative mark-to-market variance .', 'it is expected that the underlying transactions will result in earnings in first quarter 2014 as these positions settle .', 'see note 16 to the financial statements for discussion of derivative instruments ; 2022 the decrease in net revenue compared to prior year resulting from the exercise of resupply options provided for in purchase power agreements where entergy wholesale commodities may elect to supply power from another source when the plant is not running .', "amounts related to the exercise of resupply options are included in the gwh billed in the table below ; and entergy corporation and subsidiaries management's financial discussion and analysis ."] | amount ( in millions )
2012 net revenue $ 1854
mark-to-market -58 ( 58 )
nuclear volume -24 ( 24 )
nuclear fuel expenses -20 ( 20 )
nuclear realized price changes 58
other -8 ( 8 )
2013 net revenue $ 1802 | subtract(1854, 1802), divide(58, #0) | 1.11538 |
what portion of the total acquisition price of suros is dedicated to goodwill? | Pre-text: ['hologic , inc .', 'notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) acquisition and the adjustments did not have a material impact on the company 2019s financial position or results of operation .', 'there have no other material changes to the purchase price allocation as disclosed in the company 2019s form 10-k for the year ended september 30 , 2006 .', 'as part of the purchase price allocation , all intangible assets that were a part of the acquisition were identified and valued .', 'it was determined that only customer relationship , trade name , developed technology and know how and in-process research and development had separately identifiable values .', 'customer relationship represents r2 2019s strong active customer base , dominant market position and strong partnership with several large companies .', 'trade name represents the r2 product names that the company intends to continue to use .', 'order backlog consists of customer orders for which revenue has not yet been recognized .', 'developed technology and know how represents currently marketable purchased products that the company continues to resell as well as utilize to enhance and incorporate into the company 2019s existing products .', 'the estimated $ 10200 of purchase price allocated to in-process research and development projects primarily related to r2 2019s digital cad products .', 'the projects added direct digital algorithm capabilities as well as a new platform technology to analyze images and breast density measurement .', 'the projects were substantially completed as planned in fiscal 2007 .', 'the deferred income tax asset relates to the tax effect of acquired net operating loss carry forwards that the company believes are realizable partially offset by acquired identifiable intangible assets , and fair value adjustments to acquired inventory as such amounts are not deductible for tax purposes .', 'acquisition of suros surgical systems , inc .', 'on july 27 , 2006 , the company completed the acquisition of suros surgical systems , inc .', '( suros ) , pursuant to an agreement and plan of merger dated april 17 , 2006 .', 'the results of operations for suros have been included in the company 2019s consolidated financial statements from the date of acquisition as part of its mammography/breast care business segment .', 'suros , located in indianapolis , indiana , develops , manufactures and sells minimally invasive interventional breast biopsy technology and products for biopsy , tissue removal and biopsy site marking .', 'the initial aggregate purchase price for suros of approximately $ 248100 ( subject to adjustment ) consisted of 2300 shares of hologic common stock valued at $ 106500 , cash paid of $ 139000 , and approximately $ 2600 for acquisition related fees and expenses .', 'the company determined the fair value of the shares issued in connection with the acquisition in accordance with eitf issue no .', '99-12 , determination of the measurement date for the market price of acquirer securities issued in a purchase business combination .', 'the components and allocation of the purchase price , consists of the following approximate amounts: .']
######
Table:
****************************************
net tangible assets acquired as of july 27 2006, $ 11800
in-process research and development, 4900
developed technology and know how, 46000
customer relationship, 17900
trade name, 5800
deferred income taxes, -21300 ( 21300 )
goodwill, 202000
estimated purchase price, $ 267100
****************************************
######
Additional Information: ['the acquisition also provides for a two-year earn out .', 'the earn-out is payable in two annual cash installments equal to the incremental revenue growth in suros 2019 business in the two years following the closing. .'] | 0.75627 | HOLX/2007/page_129.pdf-2 | ['hologic , inc .', 'notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) acquisition and the adjustments did not have a material impact on the company 2019s financial position or results of operation .', 'there have no other material changes to the purchase price allocation as disclosed in the company 2019s form 10-k for the year ended september 30 , 2006 .', 'as part of the purchase price allocation , all intangible assets that were a part of the acquisition were identified and valued .', 'it was determined that only customer relationship , trade name , developed technology and know how and in-process research and development had separately identifiable values .', 'customer relationship represents r2 2019s strong active customer base , dominant market position and strong partnership with several large companies .', 'trade name represents the r2 product names that the company intends to continue to use .', 'order backlog consists of customer orders for which revenue has not yet been recognized .', 'developed technology and know how represents currently marketable purchased products that the company continues to resell as well as utilize to enhance and incorporate into the company 2019s existing products .', 'the estimated $ 10200 of purchase price allocated to in-process research and development projects primarily related to r2 2019s digital cad products .', 'the projects added direct digital algorithm capabilities as well as a new platform technology to analyze images and breast density measurement .', 'the projects were substantially completed as planned in fiscal 2007 .', 'the deferred income tax asset relates to the tax effect of acquired net operating loss carry forwards that the company believes are realizable partially offset by acquired identifiable intangible assets , and fair value adjustments to acquired inventory as such amounts are not deductible for tax purposes .', 'acquisition of suros surgical systems , inc .', 'on july 27 , 2006 , the company completed the acquisition of suros surgical systems , inc .', '( suros ) , pursuant to an agreement and plan of merger dated april 17 , 2006 .', 'the results of operations for suros have been included in the company 2019s consolidated financial statements from the date of acquisition as part of its mammography/breast care business segment .', 'suros , located in indianapolis , indiana , develops , manufactures and sells minimally invasive interventional breast biopsy technology and products for biopsy , tissue removal and biopsy site marking .', 'the initial aggregate purchase price for suros of approximately $ 248100 ( subject to adjustment ) consisted of 2300 shares of hologic common stock valued at $ 106500 , cash paid of $ 139000 , and approximately $ 2600 for acquisition related fees and expenses .', 'the company determined the fair value of the shares issued in connection with the acquisition in accordance with eitf issue no .', '99-12 , determination of the measurement date for the market price of acquirer securities issued in a purchase business combination .', 'the components and allocation of the purchase price , consists of the following approximate amounts: .'] | ['the acquisition also provides for a two-year earn out .', 'the earn-out is payable in two annual cash installments equal to the incremental revenue growth in suros 2019 business in the two years following the closing. .'] | ****************************************
net tangible assets acquired as of july 27 2006, $ 11800
in-process research and development, 4900
developed technology and know how, 46000
customer relationship, 17900
trade name, 5800
deferred income taxes, -21300 ( 21300 )
goodwill, 202000
estimated purchase price, $ 267100
**************************************** | divide(202000, 267100) | 0.75627 |
what was the percentage change in the reclassification of non-controlling interests from 2007 to 2008 | Background: ['the company recognizes the effect of income tax positions only if sustaining those positions is more likely than not .', 'changes in recognition or measurement are reflected in the period in which a change in judgment occurs .', 'the company records penalties and interest related to unrecognized tax benefits in income taxes in the company 2019s consolidated statements of income .', 'changes in accounting principles business combinations and noncontrolling interests on january 1 , 2009 , the company adopted revised principles related to business combinations and noncontrolling interests .', 'the revised principle on business combinations applies to all transactions or other events in which an entity obtains control over one or more businesses .', 'it requires an acquirer to recognize the assets acquired , the liabilities assumed , and any noncontrolling interest in the acquiree at the acquisition date , measured at their fair values as of that date .', 'business combinations achieved in stages require recognition of the identifiable assets and liabilities , as well as the noncontrolling interest in the acquiree , at the full amounts of their fair values when control is obtained .', 'this revision also changes the requirements for recognizing assets acquired and liabilities assumed arising from contingencies , and requires direct acquisition costs to be expensed .', 'in addition , it provides certain changes to income tax accounting for business combinations which apply to both new and previously existing business combinations .', 'in april 2009 , additional guidance was issued which revised certain business combination guidance related to accounting for contingent liabilities assumed in a business combination .', 'the company has adopted this guidance in conjunction with the adoption of the revised principles related to business combinations .', 'the adoption of the revised principles related to business combinations has not had a material impact on the consolidated financial statements .', 'the revised principle related to noncontrolling interests establishes accounting and reporting standards for the noncontrolling interests in a subsidiary and for the deconsolidation of a subsidiary .', 'the revised principle clarifies that a noncontrolling interest in a subsidiary is an ownership interest in the consolidated entity that should be reported as a separate component of equity in the consolidated statements of financial position .', 'the revised principle requires retrospective adjustments , for all periods presented , of stockholders 2019 equity and net income for noncontrolling interests .', 'in addition to these financial reporting changes , the revised principle provides for significant changes in accounting related to changes in ownership of noncontrolling interests .', 'changes in aon 2019s controlling financial interests in consolidated subsidiaries that do not result in a loss of control are accounted for as equity transactions similar to treasury stock transactions .', 'if a change in ownership of a consolidated subsidiary results in a loss of control and deconsolidation , any retained ownership interests are remeasured at fair value with the gain or loss reported in net income .', 'in previous periods , noncontrolling interests for operating subsidiaries were reported in other general expenses in the consolidated statements of income .', 'prior period amounts have been restated to conform to the current year 2019s presentation .', 'the principal effect on the prior years 2019 balance sheets related to the adoption of the new guidance related to noncontrolling interests is summarized as follows ( in millions ) : .']
----------
Table:
as of december 31 | 2008 | 2007
equity as previously reported | $ 5310 | $ 6221
increase for reclassification of non-controlling interests | 105 | 40
equity as adjusted | $ 5415 | $ 6261
----------
Additional Information: ['the revised principle also requires that net income be adjusted to include the net income attributable to the noncontrolling interests and a new separate caption for net income attributable to aon stockholders be presented in the consolidated statements of income .', 'the adoption of this new guidance increased net income by $ 16 million and $ 13 million for 2008 and 2007 , respectively .', 'net .'] | 1.625 | AON/2009/page_70.pdf-1 | ['the company recognizes the effect of income tax positions only if sustaining those positions is more likely than not .', 'changes in recognition or measurement are reflected in the period in which a change in judgment occurs .', 'the company records penalties and interest related to unrecognized tax benefits in income taxes in the company 2019s consolidated statements of income .', 'changes in accounting principles business combinations and noncontrolling interests on january 1 , 2009 , the company adopted revised principles related to business combinations and noncontrolling interests .', 'the revised principle on business combinations applies to all transactions or other events in which an entity obtains control over one or more businesses .', 'it requires an acquirer to recognize the assets acquired , the liabilities assumed , and any noncontrolling interest in the acquiree at the acquisition date , measured at their fair values as of that date .', 'business combinations achieved in stages require recognition of the identifiable assets and liabilities , as well as the noncontrolling interest in the acquiree , at the full amounts of their fair values when control is obtained .', 'this revision also changes the requirements for recognizing assets acquired and liabilities assumed arising from contingencies , and requires direct acquisition costs to be expensed .', 'in addition , it provides certain changes to income tax accounting for business combinations which apply to both new and previously existing business combinations .', 'in april 2009 , additional guidance was issued which revised certain business combination guidance related to accounting for contingent liabilities assumed in a business combination .', 'the company has adopted this guidance in conjunction with the adoption of the revised principles related to business combinations .', 'the adoption of the revised principles related to business combinations has not had a material impact on the consolidated financial statements .', 'the revised principle related to noncontrolling interests establishes accounting and reporting standards for the noncontrolling interests in a subsidiary and for the deconsolidation of a subsidiary .', 'the revised principle clarifies that a noncontrolling interest in a subsidiary is an ownership interest in the consolidated entity that should be reported as a separate component of equity in the consolidated statements of financial position .', 'the revised principle requires retrospective adjustments , for all periods presented , of stockholders 2019 equity and net income for noncontrolling interests .', 'in addition to these financial reporting changes , the revised principle provides for significant changes in accounting related to changes in ownership of noncontrolling interests .', 'changes in aon 2019s controlling financial interests in consolidated subsidiaries that do not result in a loss of control are accounted for as equity transactions similar to treasury stock transactions .', 'if a change in ownership of a consolidated subsidiary results in a loss of control and deconsolidation , any retained ownership interests are remeasured at fair value with the gain or loss reported in net income .', 'in previous periods , noncontrolling interests for operating subsidiaries were reported in other general expenses in the consolidated statements of income .', 'prior period amounts have been restated to conform to the current year 2019s presentation .', 'the principal effect on the prior years 2019 balance sheets related to the adoption of the new guidance related to noncontrolling interests is summarized as follows ( in millions ) : .'] | ['the revised principle also requires that net income be adjusted to include the net income attributable to the noncontrolling interests and a new separate caption for net income attributable to aon stockholders be presented in the consolidated statements of income .', 'the adoption of this new guidance increased net income by $ 16 million and $ 13 million for 2008 and 2007 , respectively .', 'net .'] | as of december 31 | 2008 | 2007
equity as previously reported | $ 5310 | $ 6221
increase for reclassification of non-controlling interests | 105 | 40
equity as adjusted | $ 5415 | $ 6261 | subtract(105, 40), divide(#0, 40) | 1.625 |
what were total distillates sales in millions for the three year period ? 365 346 345 | Context: ['at its catlettsburg , kentucky refinery , map has completed the approximately $ 440 million multi-year integrated investment program to upgrade product yield realizations and reduce fixed and variable manufacturing expenses .', 'this program involves the expansion , conversion and retirement of certain refinery processing units that , in addition to improving profitability , will allow the refinery to begin producing low-sulfur ( tier 2 ) gasoline .', 'project startup was in the first quarter of 2004 .', 'in the fourth quarter of 2003 , map commenced approximately $ 300 million in new capital projects for its 74000 bpd detroit , michigan refinery .', 'one of the projects , a $ 110 million expansion project , is expected to raise the crude oil capacity at the refinery by 35 percent to 100000 bpd .', 'other projects are expected to enable the refinery to produce new clean fuels and further control regulated air emissions .', 'completion of the projects is scheduled for the fourth quarter of 2005 .', 'marathon will loan map the funds necessary for these upgrade and expansion projects .', 'marketing in 2003 , map 2019s refined product sales volumes ( excluding matching buy/sell transactions ) totaled 19.8 billion gallons ( 1293000 bpd ) .', 'excluding sales related to matching buy/sell transactions , the wholesale distribution of petroleum products to private brand marketers and to large commercial and industrial consumers , primarily located in the midwest , the upper great plains and the southeast , and sales in the spot market , accounted for approximately 70 percent of map 2019s refined product sales volumes in 2003 .', 'approximately 50 percent of map 2019s gasoline volumes and 91 percent of its distillate volumes were sold on a wholesale or spot market basis to independent unbranded customers or other wholesalers in 2003 .', 'approximately half of map 2019s propane is sold into the home heating markets and industrial consumers purchase the balance .', 'propylene , cumene , aromatics , aliphatics , and sulfur are marketed to customers in the chemical industry .', 'base lube oils and slack wax are sold throughout the united states .', 'pitch is also sold domestically , but approximately 13 percent of pitch products are exported into growing markets in canada , mexico , india , and south america .', 'map markets asphalt through owned and leased terminals throughout the midwest and southeast .', 'the map customer base includes approximately 900 asphalt-paving contractors , government entities ( states , counties , cities and townships ) and asphalt roofing shingle manufacturers .', 'the following table sets forth the volume of map 2019s consolidated refined product sales by product group for each of the last three years : refined product sales ( thousands of barrels per day ) 2003 2002 2001 .']
Tabular Data:
( thousands of barrels per day ) | 2003 | 2002 | 2001
----------|----------|----------|----------
gasoline | 776 | 773 | 748
distillates | 365 | 346 | 345
propane | 21 | 22 | 21
feedstocks and special products | 97 | 82 | 71
heavy fuel oil | 24 | 20 | 41
asphalt | 74 | 75 | 78
total | 1357 | 1318 | 1304
matching buy/sell volumes included in above | 64 | 71 | 45
Follow-up: ['map sells reformulated gasoline in parts of its marketing territory , primarily chicago , illinois ; louisville , kentucky ; northern kentucky ; and milwaukee , wisconsin .', 'map also sells low-vapor-pressure gasoline in nine states .', 'as of december 31 , 2003 , map supplied petroleum products to approximately 3900 marathon and ashland branded retail outlets located primarily in michigan , ohio , indiana , kentucky and illinois .', 'branded retail outlets are also located in florida , georgia , wisconsin , west virginia , minnesota , tennessee , virginia , pennsylvania , north carolina , south carolina and alabama. .'] | 1056.0 | MRO/2003/page_45.pdf-2 | ['at its catlettsburg , kentucky refinery , map has completed the approximately $ 440 million multi-year integrated investment program to upgrade product yield realizations and reduce fixed and variable manufacturing expenses .', 'this program involves the expansion , conversion and retirement of certain refinery processing units that , in addition to improving profitability , will allow the refinery to begin producing low-sulfur ( tier 2 ) gasoline .', 'project startup was in the first quarter of 2004 .', 'in the fourth quarter of 2003 , map commenced approximately $ 300 million in new capital projects for its 74000 bpd detroit , michigan refinery .', 'one of the projects , a $ 110 million expansion project , is expected to raise the crude oil capacity at the refinery by 35 percent to 100000 bpd .', 'other projects are expected to enable the refinery to produce new clean fuels and further control regulated air emissions .', 'completion of the projects is scheduled for the fourth quarter of 2005 .', 'marathon will loan map the funds necessary for these upgrade and expansion projects .', 'marketing in 2003 , map 2019s refined product sales volumes ( excluding matching buy/sell transactions ) totaled 19.8 billion gallons ( 1293000 bpd ) .', 'excluding sales related to matching buy/sell transactions , the wholesale distribution of petroleum products to private brand marketers and to large commercial and industrial consumers , primarily located in the midwest , the upper great plains and the southeast , and sales in the spot market , accounted for approximately 70 percent of map 2019s refined product sales volumes in 2003 .', 'approximately 50 percent of map 2019s gasoline volumes and 91 percent of its distillate volumes were sold on a wholesale or spot market basis to independent unbranded customers or other wholesalers in 2003 .', 'approximately half of map 2019s propane is sold into the home heating markets and industrial consumers purchase the balance .', 'propylene , cumene , aromatics , aliphatics , and sulfur are marketed to customers in the chemical industry .', 'base lube oils and slack wax are sold throughout the united states .', 'pitch is also sold domestically , but approximately 13 percent of pitch products are exported into growing markets in canada , mexico , india , and south america .', 'map markets asphalt through owned and leased terminals throughout the midwest and southeast .', 'the map customer base includes approximately 900 asphalt-paving contractors , government entities ( states , counties , cities and townships ) and asphalt roofing shingle manufacturers .', 'the following table sets forth the volume of map 2019s consolidated refined product sales by product group for each of the last three years : refined product sales ( thousands of barrels per day ) 2003 2002 2001 .'] | ['map sells reformulated gasoline in parts of its marketing territory , primarily chicago , illinois ; louisville , kentucky ; northern kentucky ; and milwaukee , wisconsin .', 'map also sells low-vapor-pressure gasoline in nine states .', 'as of december 31 , 2003 , map supplied petroleum products to approximately 3900 marathon and ashland branded retail outlets located primarily in michigan , ohio , indiana , kentucky and illinois .', 'branded retail outlets are also located in florida , georgia , wisconsin , west virginia , minnesota , tennessee , virginia , pennsylvania , north carolina , south carolina and alabama. .'] | ( thousands of barrels per day ) | 2003 | 2002 | 2001
----------|----------|----------|----------
gasoline | 776 | 773 | 748
distillates | 365 | 346 | 345
propane | 21 | 22 | 21
feedstocks and special products | 97 | 82 | 71
heavy fuel oil | 24 | 20 | 41
asphalt | 74 | 75 | 78
total | 1357 | 1318 | 1304
matching buy/sell volumes included in above | 64 | 71 | 45 | table_sum(distillates, none) | 1056.0 |
what is the total cash outflow for stock repurchase in the last three months of 2018 , ( in millions ) ? | Pre-text: ['issuer purchases of equity securities in january 2017 , our board of directors authorized the repurchase of shares of our common stock with a value of up to $ 525 million in the aggregate .', 'as of december 29 , 2018 , $ 175 million remained available under this authorization .', 'in february 2019 , our board of directors authorized the additional repurchase of shares of our common stock with a value of up to $ 500.0 million in the aggregate .', 'the actual timing and amount of repurchases are subject to business and market conditions , corporate and regulatory requirements , stock price , acquisition opportunities and other factors .', 'the following table presents repurchases made under our current authorization and shares surrendered by employees to satisfy income tax withholding obligations during the three months ended december 29 , 2018 : period total number of shares purchased ( 1 ) average price paid per share ( 2 ) total number of shares purchased as part of publicly announced plan or program maximum dollar value of shares authorized for repurchase under publicly announced plan or program ( 1 ) ( in millions ) september 30 , 2018 2013 november 3 , 2018 543900 $ 42.64 495543 $ 254 november 4 , 2018 2013 december 1 , 2018 650048 $ 44.49 623692 $ 226 december 2 , 2018 2013 december 29 , 2018 1327657 $ 42.61 1203690 $ 175 .']
##
Tabular Data:
period | total numberof sharespurchased ( 1 ) | averageprice paidper share ( 2 ) | total number ofshares purchasedas part ofpublicly announcedplan or program | maximum dollarvalue of sharesauthorized for repurchase underpublicly announcedplan or program ( 1 ) ( in millions )
----------|----------|----------|----------|----------
september 30 2018 2013 november 3 2018 | 543900 | $ 42.64 | 495543 | $ 254
november 4 2018 2013 december 1 2018 | 650048 | $ 44.49 | 623692 | $ 226
december 2 2018 2013 december 29 2018 | 1327657 | $ 42.61 | 1203690 | $ 175
total | 2521605 | $ 43.10 | 2322925 |
##
Follow-up: ['( 1 ) shares purchased that were not part of our publicly announced repurchase programs represent employee surrender of shares of restricted stock to satisfy employee income tax withholding obligations due upon vesting , and do not reduce the dollar value that may yet be purchased under our publicly announced repurchase programs .', '( 2 ) the weighted average price paid per share of common stock does not include the cost of commissions. .'] | 108681175.5 | CDNS/2018/page_32.pdf-4 | ['issuer purchases of equity securities in january 2017 , our board of directors authorized the repurchase of shares of our common stock with a value of up to $ 525 million in the aggregate .', 'as of december 29 , 2018 , $ 175 million remained available under this authorization .', 'in february 2019 , our board of directors authorized the additional repurchase of shares of our common stock with a value of up to $ 500.0 million in the aggregate .', 'the actual timing and amount of repurchases are subject to business and market conditions , corporate and regulatory requirements , stock price , acquisition opportunities and other factors .', 'the following table presents repurchases made under our current authorization and shares surrendered by employees to satisfy income tax withholding obligations during the three months ended december 29 , 2018 : period total number of shares purchased ( 1 ) average price paid per share ( 2 ) total number of shares purchased as part of publicly announced plan or program maximum dollar value of shares authorized for repurchase under publicly announced plan or program ( 1 ) ( in millions ) september 30 , 2018 2013 november 3 , 2018 543900 $ 42.64 495543 $ 254 november 4 , 2018 2013 december 1 , 2018 650048 $ 44.49 623692 $ 226 december 2 , 2018 2013 december 29 , 2018 1327657 $ 42.61 1203690 $ 175 .'] | ['( 1 ) shares purchased that were not part of our publicly announced repurchase programs represent employee surrender of shares of restricted stock to satisfy employee income tax withholding obligations due upon vesting , and do not reduce the dollar value that may yet be purchased under our publicly announced repurchase programs .', '( 2 ) the weighted average price paid per share of common stock does not include the cost of commissions. .'] | period | total numberof sharespurchased ( 1 ) | averageprice paidper share ( 2 ) | total number ofshares purchasedas part ofpublicly announcedplan or program | maximum dollarvalue of sharesauthorized for repurchase underpublicly announcedplan or program ( 1 ) ( in millions )
----------|----------|----------|----------|----------
september 30 2018 2013 november 3 2018 | 543900 | $ 42.64 | 495543 | $ 254
november 4 2018 2013 december 1 2018 | 650048 | $ 44.49 | 623692 | $ 226
december 2 2018 2013 december 29 2018 | 1327657 | $ 42.61 | 1203690 | $ 175
total | 2521605 | $ 43.10 | 2322925 | | multiply(2521605, 43.10) | 108681175.5 |
what was the operating margin for 2005? | Pre-text: ['incentive compensation expense ( $ 8.2 million ) and related fringe benefit costs ( $ 1.4 million ) , and higher warehousing costs due to customer requirements ( $ 2.0 million ) .', 'corporate overhead for the year ended december 31 , 2006 , increased $ 3.1 million , or 6.5% ( 6.5 % ) , from the year ended december 31 , 2005 .', 'the increase was primarily attributable to higher incentive compensation expense ( $ 2.6 million ) and other increased costs which were not individually significant .', 'other expense , net , decreased $ 2.1 million , or 20.1% ( 20.1 % ) for the year ended december 31 , 2006 compared to the year ended december 31 , 2005 .', 'the decrease was primarily due to a $ 3.1 million decrease in expenses related to the disposals of property , plant and equipment as part of planned disposals in connection with capital projects .', 'partially offsetting the decrease in fixed asset disposal expense was higher legal expenses ( $ 0.5 million ) and increased losses on disposals of storeroom items ( $ 0.4 million ) .', 'interest expense , net and income taxes interest expense , net of interest income , increased by $ 3.1 million , or 11.1% ( 11.1 % ) , for the year ended december 31 , 2006 compared to the full year 2005 , primarily as a result of higher interest expense on our variable rate debt due to higher interest rates .', 'pca 2019s effective tax rate was 35.8% ( 35.8 % ) for the year ended december 31 , 2006 and 40.2% ( 40.2 % ) for the year ended december 31 , 2005 .', 'the lower tax rate in 2006 is primarily due to a larger domestic manufacturer 2019s deduction and a reduction in the texas state tax rate .', 'for both years 2006 and 2005 , tax rates were higher than the federal statutory rate of 35.0% ( 35.0 % ) due to state income taxes .', 'year ended december 31 , 2005 compared to year ended december 31 , 2004 the historical results of operations of pca for the years ended december 31 , 2005 and 2004 are set forth below : for the year ended december 31 , ( in millions ) 2005 2004 change .']
--
Data Table:
========================================
• ( in millions ), for the year ended december 31 , 2005, for the year ended december 31 , 2004, change
• net sales, $ 1993.7, $ 1890.1, $ 103.6
• income from operations, $ 116.1, $ 140.5, $ -24.4 ( 24.4 )
• interest expense net, -28.1 ( 28.1 ), -29.6 ( 29.6 ), 1.5
• income before taxes, 88.0, 110.9, -22.9 ( 22.9 )
• provision for income taxes, -35.4 ( 35.4 ), -42.2 ( 42.2 ), 6.8
• net income, $ 52.6, $ 68.7, $ -16.1 ( 16.1 )
========================================
--
Post-table: ['net sales net sales increased by $ 103.6 million , or 5.5% ( 5.5 % ) , for the year ended december 31 , 2005 from the year ended december 31 , 2004 .', 'net sales increased primarily due to increased sales prices and volumes of corrugated products compared to 2004 .', 'total corrugated products volume sold increased 4.2% ( 4.2 % ) to 31.2 billion square feet in 2005 compared to 29.9 billion square feet in 2004 .', 'on a comparable shipment-per-workday basis , corrugated products sales volume increased 4.6% ( 4.6 % ) in 2005 from 2004 .', 'excluding pca 2019s acquisition of midland container in april 2005 , corrugated products volume was 3.0% ( 3.0 % ) higher in 2005 than 2004 and up 3.4% ( 3.4 % ) compared to 2004 on a shipment-per-workday basis .', 'shipments-per-workday is calculated by dividing our total corrugated products volume during the year by the number of workdays within the year .', 'the larger percentage increase was due to the fact that 2005 had one less workday ( 250 days ) , those days not falling on a weekend or holiday , than 2004 ( 251 days ) .', 'containerboard sales volume to external domestic and export customers decreased 12.2% ( 12.2 % ) to 417000 tons for the year ended december 31 , 2005 from 475000 tons in 2004. .'] | 0.05823 | PKG/2006/page_28.pdf-2 | ['incentive compensation expense ( $ 8.2 million ) and related fringe benefit costs ( $ 1.4 million ) , and higher warehousing costs due to customer requirements ( $ 2.0 million ) .', 'corporate overhead for the year ended december 31 , 2006 , increased $ 3.1 million , or 6.5% ( 6.5 % ) , from the year ended december 31 , 2005 .', 'the increase was primarily attributable to higher incentive compensation expense ( $ 2.6 million ) and other increased costs which were not individually significant .', 'other expense , net , decreased $ 2.1 million , or 20.1% ( 20.1 % ) for the year ended december 31 , 2006 compared to the year ended december 31 , 2005 .', 'the decrease was primarily due to a $ 3.1 million decrease in expenses related to the disposals of property , plant and equipment as part of planned disposals in connection with capital projects .', 'partially offsetting the decrease in fixed asset disposal expense was higher legal expenses ( $ 0.5 million ) and increased losses on disposals of storeroom items ( $ 0.4 million ) .', 'interest expense , net and income taxes interest expense , net of interest income , increased by $ 3.1 million , or 11.1% ( 11.1 % ) , for the year ended december 31 , 2006 compared to the full year 2005 , primarily as a result of higher interest expense on our variable rate debt due to higher interest rates .', 'pca 2019s effective tax rate was 35.8% ( 35.8 % ) for the year ended december 31 , 2006 and 40.2% ( 40.2 % ) for the year ended december 31 , 2005 .', 'the lower tax rate in 2006 is primarily due to a larger domestic manufacturer 2019s deduction and a reduction in the texas state tax rate .', 'for both years 2006 and 2005 , tax rates were higher than the federal statutory rate of 35.0% ( 35.0 % ) due to state income taxes .', 'year ended december 31 , 2005 compared to year ended december 31 , 2004 the historical results of operations of pca for the years ended december 31 , 2005 and 2004 are set forth below : for the year ended december 31 , ( in millions ) 2005 2004 change .'] | ['net sales net sales increased by $ 103.6 million , or 5.5% ( 5.5 % ) , for the year ended december 31 , 2005 from the year ended december 31 , 2004 .', 'net sales increased primarily due to increased sales prices and volumes of corrugated products compared to 2004 .', 'total corrugated products volume sold increased 4.2% ( 4.2 % ) to 31.2 billion square feet in 2005 compared to 29.9 billion square feet in 2004 .', 'on a comparable shipment-per-workday basis , corrugated products sales volume increased 4.6% ( 4.6 % ) in 2005 from 2004 .', 'excluding pca 2019s acquisition of midland container in april 2005 , corrugated products volume was 3.0% ( 3.0 % ) higher in 2005 than 2004 and up 3.4% ( 3.4 % ) compared to 2004 on a shipment-per-workday basis .', 'shipments-per-workday is calculated by dividing our total corrugated products volume during the year by the number of workdays within the year .', 'the larger percentage increase was due to the fact that 2005 had one less workday ( 250 days ) , those days not falling on a weekend or holiday , than 2004 ( 251 days ) .', 'containerboard sales volume to external domestic and export customers decreased 12.2% ( 12.2 % ) to 417000 tons for the year ended december 31 , 2005 from 475000 tons in 2004. .'] | ========================================
• ( in millions ), for the year ended december 31 , 2005, for the year ended december 31 , 2004, change
• net sales, $ 1993.7, $ 1890.1, $ 103.6
• income from operations, $ 116.1, $ 140.5, $ -24.4 ( 24.4 )
• interest expense net, -28.1 ( 28.1 ), -29.6 ( 29.6 ), 1.5
• income before taxes, 88.0, 110.9, -22.9 ( 22.9 )
• provision for income taxes, -35.4 ( 35.4 ), -42.2 ( 42.2 ), 6.8
• net income, $ 52.6, $ 68.7, $ -16.1 ( 16.1 )
======================================== | divide(116.1, 1993.7) | 0.05823 |
what percentage of the intangible assets is related to the license of the realtor.com ae trademark? | Context: ['news corporation notes to the consolidated financial statements consideration transferred over the fair value of the net tangible and intangible assets acquired was recorded as goodwill .', 'the allocation is as follows ( in millions ) : assets acquired: .']
--------
Data Table:
========================================
cash, $ 108
other current assets, 28
intangible assets, 216
deferred income taxes, 153
goodwill, 552
other non-current assets, 69
total assets acquired, $ 1126
liabilities assumed:,
current liabilities, $ 50
deferred income taxes, 52
borrowings, 129
other non-current liabilities, 3
total liabilities assumed, 234
net assets acquired, $ 892
========================================
--------
Additional Information: ['the acquired intangible assets relate to the license of the realtor.com ae trademark , which has a fair value of approximately $ 116 million and an indefinite life , and customer relationships , other tradenames and certain multiple listing service agreements with an aggregate fair value of approximately $ 100 million , which are being amortized over a weighted-average useful life of approximately 15 years .', 'the company also acquired technology , primarily associated with the realtor.com ae website , that has a fair value of approximately $ 39 million , which is being amortized over 4 years .', 'the acquired technology has been recorded in property , plant and equipment , net in the consolidated balance sheets as of the date of acquisition .', 'move had u.s .', 'federal net operating loss carryforwards ( 201cnols 201d ) of $ 947 million ( $ 332 million tax-effected ) at the date of acquisition .', 'the nols are subject to limitations as promulgated under section 382 of the internal revenue code of 1986 , as amended ( the 201ccode 201d ) .', 'section 382 of the code limits the amount of acquired nols that we can use on an annual basis to offset future u.s .', 'consolidated taxable income .', 'valuation allowances and unrecognized tax benefits were recorded against these nols in the amount of $ 484 million ( $ 170 million tax- effected ) as part of the purchase price allocation .', 'accordingly , the company expected approximately $ 463 million of nols could be utilized , and recorded a net deferred tax asset of $ 162 million as part of the purchase price allocation .', 'as a result of management 2019s plan to dispose of its digital education business , the company increased its estimated utilization of move 2019s nols by $ 167 million ( $ 58 million tax-effected ) and released valuation allowances equal to that amount .', 'upon filing its fiscal 2015 federal income tax return , the company reduced move 2019s nols by $ 298 million which represents the amount expected to expire unutilized due to the section 382 limitation discussed above .', 'as of june 30 , 2016 , the remaining move nols expected to be utilized are $ 573 million ( $ 201 million tax-effected ) .', 'the utilization of these nols is dependent on generating sufficient u.s .', 'taxable income prior to expiration which begins in varying amounts starting in 2021 .', 'the deferred tax assets established for move 2019s nols , net of valuation allowance and unrecognized tax benefits , are included in non- current deferred tax assets on the balance sheets. .'] | 0.53704 | NWS/2017/page_119.pdf-2 | ['news corporation notes to the consolidated financial statements consideration transferred over the fair value of the net tangible and intangible assets acquired was recorded as goodwill .', 'the allocation is as follows ( in millions ) : assets acquired: .'] | ['the acquired intangible assets relate to the license of the realtor.com ae trademark , which has a fair value of approximately $ 116 million and an indefinite life , and customer relationships , other tradenames and certain multiple listing service agreements with an aggregate fair value of approximately $ 100 million , which are being amortized over a weighted-average useful life of approximately 15 years .', 'the company also acquired technology , primarily associated with the realtor.com ae website , that has a fair value of approximately $ 39 million , which is being amortized over 4 years .', 'the acquired technology has been recorded in property , plant and equipment , net in the consolidated balance sheets as of the date of acquisition .', 'move had u.s .', 'federal net operating loss carryforwards ( 201cnols 201d ) of $ 947 million ( $ 332 million tax-effected ) at the date of acquisition .', 'the nols are subject to limitations as promulgated under section 382 of the internal revenue code of 1986 , as amended ( the 201ccode 201d ) .', 'section 382 of the code limits the amount of acquired nols that we can use on an annual basis to offset future u.s .', 'consolidated taxable income .', 'valuation allowances and unrecognized tax benefits were recorded against these nols in the amount of $ 484 million ( $ 170 million tax- effected ) as part of the purchase price allocation .', 'accordingly , the company expected approximately $ 463 million of nols could be utilized , and recorded a net deferred tax asset of $ 162 million as part of the purchase price allocation .', 'as a result of management 2019s plan to dispose of its digital education business , the company increased its estimated utilization of move 2019s nols by $ 167 million ( $ 58 million tax-effected ) and released valuation allowances equal to that amount .', 'upon filing its fiscal 2015 federal income tax return , the company reduced move 2019s nols by $ 298 million which represents the amount expected to expire unutilized due to the section 382 limitation discussed above .', 'as of june 30 , 2016 , the remaining move nols expected to be utilized are $ 573 million ( $ 201 million tax-effected ) .', 'the utilization of these nols is dependent on generating sufficient u.s .', 'taxable income prior to expiration which begins in varying amounts starting in 2021 .', 'the deferred tax assets established for move 2019s nols , net of valuation allowance and unrecognized tax benefits , are included in non- current deferred tax assets on the balance sheets. .'] | ========================================
cash, $ 108
other current assets, 28
intangible assets, 216
deferred income taxes, 153
goodwill, 552
other non-current assets, 69
total assets acquired, $ 1126
liabilities assumed:,
current liabilities, $ 50
deferred income taxes, 52
borrowings, 129
other non-current liabilities, 3
total liabilities assumed, 234
net assets acquired, $ 892
======================================== | divide(116, 216) | 0.53704 |
what is the statistical interval for 2017's interest income using 2016's interest income as a midpoint? | Background: ['item 7a .', 'quantitative and qualitative disclosures about market risk ( amounts in millions ) in the normal course of business , we are exposed to market risks related to interest rates , foreign currency rates and certain balance sheet items .', 'from time to time , we use derivative instruments , pursuant to established guidelines and policies , to manage some portion of these risks .', 'derivative instruments utilized in our hedging activities are viewed as risk management tools and are not used for trading or speculative purposes .', 'interest rates our exposure to market risk for changes in interest rates relates primarily to the fair market value and cash flows of our debt obligations .', 'the majority of our debt ( approximately 93% ( 93 % ) and 89% ( 89 % ) as of december 31 , 2016 and 2015 , respectively ) bears interest at fixed rates .', 'we do have debt with variable interest rates , but a 10% ( 10 % ) increase or decrease in interest rates would not be material to our interest expense or cash flows .', 'the fair market value of our debt is sensitive to changes in interest rates , and the impact of a 10% ( 10 % ) change in interest rates is summarized below .', 'increase/ ( decrease ) in fair market value as of december 31 , 10% ( 10 % ) increase in interest rates 10% ( 10 % ) decrease in interest rates .']
--------
Table:
----------------------------------------
Row 1: as of december 31,, increase/ ( decrease ) in fair market value 10% ( 10 % ) increasein interest rates, increase/ ( decrease ) in fair market value 10% ( 10 % ) decreasein interest rates
Row 2: 2016, $ -26.3 ( 26.3 ), $ 26.9
Row 3: 2015, -33.7 ( 33.7 ), 34.7
----------------------------------------
--------
Follow-up: ['we have used interest rate swaps for risk management purposes to manage our exposure to changes in interest rates .', 'we do not have any interest rate swaps outstanding as of december 31 , 2016 .', 'we had $ 1100.6 of cash , cash equivalents and marketable securities as of december 31 , 2016 that we generally invest in conservative , short-term bank deposits or securities .', 'the interest income generated from these investments is subject to both domestic and foreign interest rate movements .', 'during 2016 and 2015 , we had interest income of $ 20.1 and $ 22.8 , respectively .', 'based on our 2016 results , a 100 basis-point increase or decrease in interest rates would affect our interest income by approximately $ 11.0 , assuming that all cash , cash equivalents and marketable securities are impacted in the same manner and balances remain constant from year-end 2016 levels .', 'foreign currency rates we are subject to translation and transaction risks related to changes in foreign currency exchange rates .', 'since we report revenues and expenses in u.s .', 'dollars , changes in exchange rates may either positively or negatively affect our consolidated revenues and expenses ( as expressed in u.s .', 'dollars ) from foreign operations .', 'the foreign currencies that most impacted our results during 2016 included the british pound sterling and , to a lesser extent , the argentine peso , brazilian real and japanese yen .', 'based on 2016 exchange rates and operating results , if the u.s .', 'dollar were to strengthen or weaken by 10% ( 10 % ) , we currently estimate operating income would decrease or increase approximately 4% ( 4 % ) , assuming that all currencies are impacted in the same manner and our international revenue and expenses remain constant at 2016 levels .', 'the functional currency of our foreign operations is generally their respective local currency .', 'assets and liabilities are translated at the exchange rates in effect at the balance sheet date , and revenues and expenses are translated at the average exchange rates during the period presented .', 'the resulting translation adjustments are recorded as a component of accumulated other comprehensive loss , net of tax , in the stockholders 2019 equity section of our consolidated balance sheets .', 'our foreign subsidiaries generally collect revenues and pay expenses in their functional currency , mitigating transaction risk .', 'however , certain subsidiaries may enter into transactions in currencies other than their functional currency .', 'assets and liabilities denominated in currencies other than the functional currency are susceptible to movements in foreign currency until final settlement .', 'currency transaction gains or losses primarily arising from transactions in currencies other than the functional currency are included in office and general expenses .', 'we regularly review our foreign exchange exposures that may have a material impact on our business and from time to time use foreign currency forward exchange contracts or other derivative financial instruments to hedge the effects of potential adverse fluctuations in foreign currency exchange rates arising from these exposures .', 'we do not enter into foreign exchange contracts or other derivatives for speculative purposes. .'] | 9.1 | IPG/2016/page_46.pdf-4 | ['item 7a .', 'quantitative and qualitative disclosures about market risk ( amounts in millions ) in the normal course of business , we are exposed to market risks related to interest rates , foreign currency rates and certain balance sheet items .', 'from time to time , we use derivative instruments , pursuant to established guidelines and policies , to manage some portion of these risks .', 'derivative instruments utilized in our hedging activities are viewed as risk management tools and are not used for trading or speculative purposes .', 'interest rates our exposure to market risk for changes in interest rates relates primarily to the fair market value and cash flows of our debt obligations .', 'the majority of our debt ( approximately 93% ( 93 % ) and 89% ( 89 % ) as of december 31 , 2016 and 2015 , respectively ) bears interest at fixed rates .', 'we do have debt with variable interest rates , but a 10% ( 10 % ) increase or decrease in interest rates would not be material to our interest expense or cash flows .', 'the fair market value of our debt is sensitive to changes in interest rates , and the impact of a 10% ( 10 % ) change in interest rates is summarized below .', 'increase/ ( decrease ) in fair market value as of december 31 , 10% ( 10 % ) increase in interest rates 10% ( 10 % ) decrease in interest rates .'] | ['we have used interest rate swaps for risk management purposes to manage our exposure to changes in interest rates .', 'we do not have any interest rate swaps outstanding as of december 31 , 2016 .', 'we had $ 1100.6 of cash , cash equivalents and marketable securities as of december 31 , 2016 that we generally invest in conservative , short-term bank deposits or securities .', 'the interest income generated from these investments is subject to both domestic and foreign interest rate movements .', 'during 2016 and 2015 , we had interest income of $ 20.1 and $ 22.8 , respectively .', 'based on our 2016 results , a 100 basis-point increase or decrease in interest rates would affect our interest income by approximately $ 11.0 , assuming that all cash , cash equivalents and marketable securities are impacted in the same manner and balances remain constant from year-end 2016 levels .', 'foreign currency rates we are subject to translation and transaction risks related to changes in foreign currency exchange rates .', 'since we report revenues and expenses in u.s .', 'dollars , changes in exchange rates may either positively or negatively affect our consolidated revenues and expenses ( as expressed in u.s .', 'dollars ) from foreign operations .', 'the foreign currencies that most impacted our results during 2016 included the british pound sterling and , to a lesser extent , the argentine peso , brazilian real and japanese yen .', 'based on 2016 exchange rates and operating results , if the u.s .', 'dollar were to strengthen or weaken by 10% ( 10 % ) , we currently estimate operating income would decrease or increase approximately 4% ( 4 % ) , assuming that all currencies are impacted in the same manner and our international revenue and expenses remain constant at 2016 levels .', 'the functional currency of our foreign operations is generally their respective local currency .', 'assets and liabilities are translated at the exchange rates in effect at the balance sheet date , and revenues and expenses are translated at the average exchange rates during the period presented .', 'the resulting translation adjustments are recorded as a component of accumulated other comprehensive loss , net of tax , in the stockholders 2019 equity section of our consolidated balance sheets .', 'our foreign subsidiaries generally collect revenues and pay expenses in their functional currency , mitigating transaction risk .', 'however , certain subsidiaries may enter into transactions in currencies other than their functional currency .', 'assets and liabilities denominated in currencies other than the functional currency are susceptible to movements in foreign currency until final settlement .', 'currency transaction gains or losses primarily arising from transactions in currencies other than the functional currency are included in office and general expenses .', 'we regularly review our foreign exchange exposures that may have a material impact on our business and from time to time use foreign currency forward exchange contracts or other derivative financial instruments to hedge the effects of potential adverse fluctuations in foreign currency exchange rates arising from these exposures .', 'we do not enter into foreign exchange contracts or other derivatives for speculative purposes. .'] | ----------------------------------------
Row 1: as of december 31,, increase/ ( decrease ) in fair market value 10% ( 10 % ) increasein interest rates, increase/ ( decrease ) in fair market value 10% ( 10 % ) decreasein interest rates
Row 2: 2016, $ -26.3 ( 26.3 ), $ 26.9
Row 3: 2015, -33.7 ( 33.7 ), 34.7
---------------------------------------- | add(20.1, 11.0), subtract(20.1, 11.0) | 9.1 |
what percentage of the aggregate purchase price for the two companies in 2007 is goodwill? | Context: ['the changes in the gross amount of unrecognized tax benefits for the year ended december 29 , 2007 are as follows: .']
----
Tabular Data:
----------------------------------------
Row 1: , ( in thousands )
Row 2: balance as of december 31 2006, $ 337226
Row 3: gross amount of the decreases in unrecognized tax benefits of tax positions taken during a prior year, -31608 ( 31608 )
Row 4: gross amount of the increases in unrecognized tax benefits as a result of tax positions taken during the current year, 7764
Row 5: amount of decreases in unrecognized tax benefits relating to settlements with taxing authorities, -6001 ( 6001 )
Row 6: reductions to unrecognized tax benefits resulting from the lapse of the applicable statute of limitations, -511 ( 511 )
Row 7: balance as of december 29 2007, $ 306870
----------------------------------------
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Post-table: ['as of december 29 , 2007 , $ 228.4 million of unrecognized tax benefits would , if recognized , reduce the effective tax rate , as compared to $ 232.1 million as of december 31 , 2006 , the first day of cadence 2019s fiscal year .', 'the total amounts of interest and penalties recognized in the consolidated income statement for the year ended december 29 , 2007 resulted in net tax benefits of $ 11.1 million and $ 0.4 million , respectively , primarily due to the effective settlement of tax audits during the year .', 'the total amounts of gross accrued interest and penalties recognized in the consolidated balance sheets as of december 29 , 2007 , were $ 47.9 million and $ 9.7 million , respectively as compared to $ 65.8 million and $ 10.1 million , respectively as of december 31 , 2006 .', 'note 9 .', 'acquisitions for each of the acquisitions described below , the results of operations and the estimated fair value of the assets acquired and liabilities assumed have been included in cadence 2019s consolidated financial statements from the date of the acquisition .', 'comparative pro forma financial information for all 2007 , 2006 and 2005 acquisitions have not been presented because the results of operations were not material to cadence 2019s consolidated financial statements .', '2007 acquisitions during 2007 , cadence acquired invarium , inc. , a san jose-based developer of advanced lithography-modeling and pattern-synthesis technology , and clear shape technologies , inc. , a san jose-based design for manufacturing technology company specializing in design-side solutions to minimize yield loss for advanced semiconductor integrated circuits .', 'cadence acquired these two companies for an aggregate purchase price of $ 75.5 million , which included the payment of cash , the fair value of assumed options and acquisition costs .', 'the $ 45.7 million of goodwill recorded in connection with these acquisitions is not expected to be deductible for income tax purposes .', 'prior to acquiring clear shape technologies , inc. , cadence had an investment of $ 2.0 million in the company , representing a 12% ( 12 % ) ownership interest , which had been accounted for under the cost method of accounting .', 'in accordance with sfas no .', '141 , 201cbusiness combinations , 201d cadence accounted for this acquisition as a step acquisition .', 'subsequent adjustments to the purchase price of these acquired companies are included in the 201cother 201d line of the changes of goodwill table in note 10 below .', '2006 acquisition in march 2006 , cadence acquired a company for an aggregate initial purchase price of $ 25.8 million , which included the payment of cash , the fair value of assumed options and acquisition costs .', 'the preliminary allocation of the purchase price was recorded as $ 17.4 million of goodwill , $ 9.4 million of identifiable intangible assets and $ ( 1.0 ) million of net liabilities .', 'the $ 17.4 million of goodwill recorded in connection with this acquisition is not expected to be deductible for income tax purposes .', 'subsequent adjustments to the purchase price of this acquired company are included in the 201cother 201d line of the changes of goodwill table in note 10 below. .'] | 0.6053 | CDNS/2007/page_93.pdf-1 | ['the changes in the gross amount of unrecognized tax benefits for the year ended december 29 , 2007 are as follows: .'] | ['as of december 29 , 2007 , $ 228.4 million of unrecognized tax benefits would , if recognized , reduce the effective tax rate , as compared to $ 232.1 million as of december 31 , 2006 , the first day of cadence 2019s fiscal year .', 'the total amounts of interest and penalties recognized in the consolidated income statement for the year ended december 29 , 2007 resulted in net tax benefits of $ 11.1 million and $ 0.4 million , respectively , primarily due to the effective settlement of tax audits during the year .', 'the total amounts of gross accrued interest and penalties recognized in the consolidated balance sheets as of december 29 , 2007 , were $ 47.9 million and $ 9.7 million , respectively as compared to $ 65.8 million and $ 10.1 million , respectively as of december 31 , 2006 .', 'note 9 .', 'acquisitions for each of the acquisitions described below , the results of operations and the estimated fair value of the assets acquired and liabilities assumed have been included in cadence 2019s consolidated financial statements from the date of the acquisition .', 'comparative pro forma financial information for all 2007 , 2006 and 2005 acquisitions have not been presented because the results of operations were not material to cadence 2019s consolidated financial statements .', '2007 acquisitions during 2007 , cadence acquired invarium , inc. , a san jose-based developer of advanced lithography-modeling and pattern-synthesis technology , and clear shape technologies , inc. , a san jose-based design for manufacturing technology company specializing in design-side solutions to minimize yield loss for advanced semiconductor integrated circuits .', 'cadence acquired these two companies for an aggregate purchase price of $ 75.5 million , which included the payment of cash , the fair value of assumed options and acquisition costs .', 'the $ 45.7 million of goodwill recorded in connection with these acquisitions is not expected to be deductible for income tax purposes .', 'prior to acquiring clear shape technologies , inc. , cadence had an investment of $ 2.0 million in the company , representing a 12% ( 12 % ) ownership interest , which had been accounted for under the cost method of accounting .', 'in accordance with sfas no .', '141 , 201cbusiness combinations , 201d cadence accounted for this acquisition as a step acquisition .', 'subsequent adjustments to the purchase price of these acquired companies are included in the 201cother 201d line of the changes of goodwill table in note 10 below .', '2006 acquisition in march 2006 , cadence acquired a company for an aggregate initial purchase price of $ 25.8 million , which included the payment of cash , the fair value of assumed options and acquisition costs .', 'the preliminary allocation of the purchase price was recorded as $ 17.4 million of goodwill , $ 9.4 million of identifiable intangible assets and $ ( 1.0 ) million of net liabilities .', 'the $ 17.4 million of goodwill recorded in connection with this acquisition is not expected to be deductible for income tax purposes .', 'subsequent adjustments to the purchase price of this acquired company are included in the 201cother 201d line of the changes of goodwill table in note 10 below. .'] | ----------------------------------------
Row 1: , ( in thousands )
Row 2: balance as of december 31 2006, $ 337226
Row 3: gross amount of the decreases in unrecognized tax benefits of tax positions taken during a prior year, -31608 ( 31608 )
Row 4: gross amount of the increases in unrecognized tax benefits as a result of tax positions taken during the current year, 7764
Row 5: amount of decreases in unrecognized tax benefits relating to settlements with taxing authorities, -6001 ( 6001 )
Row 6: reductions to unrecognized tax benefits resulting from the lapse of the applicable statute of limitations, -511 ( 511 )
Row 7: balance as of december 29 2007, $ 306870
---------------------------------------- | divide(45.7, 75.5) | 0.6053 |
what is the implied total value of the european sports satellite and cable network as of the transaction date? | Background: ['international networks international networks generated revenues of $ 1637 million during 2012 , which represented 37% ( 37 % ) of our total consolidated revenues .', 'our international networks segment principally consists of national and pan-regional television networks .', 'this segment generates revenue from operations in virtually every pay-television market in the world through an infrastructure that includes operational centers in london , singapore and miami .', 'discovery channel , animal planet and tlc lead the international networks 2019 portfolio of television networks .', 'international networks has one of the largest international distribution platforms of networks with as many as fourteen networks in more than 200 countries and territories around the world .', 'at december 31 , 2012 , international networks operated over 180 unique distribution feeds in over 40 languages with channel feeds customized according to language needs and advertising sales opportunities .', 'international networks also has free-to-air networks in the u.k. , germany , italy and spain and continues to pursue international expansion .', 'our international networks segment owns and operates the following television networks which reached the following number of subscribers as of december 31 , 2012 : global networks international subscribers ( millions ) regional networks international subscribers ( millions ) .']
####
Data Table:
----------------------------------------
global networks discovery channel | internationalsubscribers ( millions ) 246 | regional networks dmax | internationalsubscribers ( millions ) 90
animal planet | 183 | discovery kids | 61
tlc real time and travel & living | 174 | quest | 26
discovery science | 75 | discovery history | 13
investigation discovery | 63 | shed | 12
discovery home & health | 57 | discovery en espanol ( u.s. ) | 5
turbo | 42 | discovery familia ( u.s ) | 4
discovery world | 27 | |
----------------------------------------
####
Post-table: ['on december 21 , 2012 , our international networks segment acquired 20% ( 20 % ) equity ownership interests in eurosport , a european sports satellite and cable network , and a portfolio of pay television networks from tf1 , a french media company , for $ 264 million , including transaction costs .', 'we have a call right that enables us to purchase a controlling interest in eurosport starting december 2014 and for one year thereafter .', 'if we exercise our call right , tf1 will have the right to put its remaining interest to us for one year thereafter .', 'the arrangement is intended to increase the growth of eurosport , which focuses on niche but regionally popular sports such as tennis , skiing , cycling and skating , and enhance our pay television offerings in france .', "on december 28 , 2012 , we acquired switchover media , a group of five italian television channels with children's and entertainment programming .", '( see note 3 to the accompanying consolidated financial statements. ) education education generated revenues of $ 105 million during 2012 , which represented 2% ( 2 % ) of our total consolidated revenues .', 'education is comprised of curriculum-based product and service offerings .', 'this segment generates revenues primarily from subscriptions charged to k-12 schools for access to an online suite of curriculum-based vod tools , professional development services , digital textbooks and , to a lesser extent , student assessments and publication of hardcopy curriculum-based content .', 'our education business also participates in global brand and content licensing and engages in partnerships with leading non-profits , corporations , foundations and trade associations .', 'content development our content development strategy is designed to increase viewership , maintain innovation and quality leadership , and provide value for our network distributors and advertising customers .', 'our content is sourced from a wide range of third-party producers , which include some of the world 2019s leading nonfiction production companies as well as independent producers .', 'our production arrangements fall into three categories : produced , coproduced and licensed .', 'substantially all produced content includes content that we engage third parties to develop and produce , while we retain editorial control and own most or all of the rights , in exchange for paying all development and production costs .', 'coproduced content refers to program rights that we have collaborated with third parties to finance and develop because at times world-wide rights are not available for acquisition or we save costs by collaborating with third parties .', 'licensed content is comprised of films or series that have been previously produced by third parties. .'] | 1320.0 | DISCA/2012/page_39.pdf-4 | ['international networks international networks generated revenues of $ 1637 million during 2012 , which represented 37% ( 37 % ) of our total consolidated revenues .', 'our international networks segment principally consists of national and pan-regional television networks .', 'this segment generates revenue from operations in virtually every pay-television market in the world through an infrastructure that includes operational centers in london , singapore and miami .', 'discovery channel , animal planet and tlc lead the international networks 2019 portfolio of television networks .', 'international networks has one of the largest international distribution platforms of networks with as many as fourteen networks in more than 200 countries and territories around the world .', 'at december 31 , 2012 , international networks operated over 180 unique distribution feeds in over 40 languages with channel feeds customized according to language needs and advertising sales opportunities .', 'international networks also has free-to-air networks in the u.k. , germany , italy and spain and continues to pursue international expansion .', 'our international networks segment owns and operates the following television networks which reached the following number of subscribers as of december 31 , 2012 : global networks international subscribers ( millions ) regional networks international subscribers ( millions ) .'] | ['on december 21 , 2012 , our international networks segment acquired 20% ( 20 % ) equity ownership interests in eurosport , a european sports satellite and cable network , and a portfolio of pay television networks from tf1 , a french media company , for $ 264 million , including transaction costs .', 'we have a call right that enables us to purchase a controlling interest in eurosport starting december 2014 and for one year thereafter .', 'if we exercise our call right , tf1 will have the right to put its remaining interest to us for one year thereafter .', 'the arrangement is intended to increase the growth of eurosport , which focuses on niche but regionally popular sports such as tennis , skiing , cycling and skating , and enhance our pay television offerings in france .', "on december 28 , 2012 , we acquired switchover media , a group of five italian television channels with children's and entertainment programming .", '( see note 3 to the accompanying consolidated financial statements. ) education education generated revenues of $ 105 million during 2012 , which represented 2% ( 2 % ) of our total consolidated revenues .', 'education is comprised of curriculum-based product and service offerings .', 'this segment generates revenues primarily from subscriptions charged to k-12 schools for access to an online suite of curriculum-based vod tools , professional development services , digital textbooks and , to a lesser extent , student assessments and publication of hardcopy curriculum-based content .', 'our education business also participates in global brand and content licensing and engages in partnerships with leading non-profits , corporations , foundations and trade associations .', 'content development our content development strategy is designed to increase viewership , maintain innovation and quality leadership , and provide value for our network distributors and advertising customers .', 'our content is sourced from a wide range of third-party producers , which include some of the world 2019s leading nonfiction production companies as well as independent producers .', 'our production arrangements fall into three categories : produced , coproduced and licensed .', 'substantially all produced content includes content that we engage third parties to develop and produce , while we retain editorial control and own most or all of the rights , in exchange for paying all development and production costs .', 'coproduced content refers to program rights that we have collaborated with third parties to finance and develop because at times world-wide rights are not available for acquisition or we save costs by collaborating with third parties .', 'licensed content is comprised of films or series that have been previously produced by third parties. .'] | ----------------------------------------
global networks discovery channel | internationalsubscribers ( millions ) 246 | regional networks dmax | internationalsubscribers ( millions ) 90
animal planet | 183 | discovery kids | 61
tlc real time and travel & living | 174 | quest | 26
discovery science | 75 | discovery history | 13
investigation discovery | 63 | shed | 12
discovery home & health | 57 | discovery en espanol ( u.s. ) | 5
turbo | 42 | discovery familia ( u.s ) | 4
discovery world | 27 | |
---------------------------------------- | divide(20, const_100), divide(264, #0) | 1320.0 |
what portion of the estimated purchase price of r2 is paid in cash? | Context: ['hologic , inc .', 'notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) purchased products that the company continues to sell as well as utilize to enhance and incorporate into the company 2019s existing products .', 'the intangible assets are expected to be amortized on a straight-line basis over the expected useful lives as the anticipated undiscounted cash flows are relatively consistent over the expected useful lives of the intangible assets .', 'the estimated $ 600 of purchase price allocated to in-process research and development projects related to aeg 2019s organic photoconductor coating and selenium product lines .', 'the deferred income tax liability relates to the tax effect of acquired identifiable intangible assets , and fair value adjustments to acquired inventory , land , building and related improvements as such amounts are not deductible for tax purposes .', 'the company had an existing relationship with aeg as a supplier of inventory items .', 'the supply agreement was entered into in prior years at arm 2019s length terms and conditions .', 'no minimum purchase requirements existed and the pricing was consistent with other vendor agreements .', 'acquisition of r2 technology , inc .', 'on july 13 , 2006 , the company completed the acquisition of r2 technology , inc .', '( r2 ) pursuant to an agreement and plan of merger dated april 24 , 2006 .', 'the results of operations for r2 have been included in the company 2019s consolidated financial statements from the date of acquisition as part of its mammography/breast care business segment .', 'r2 , previously located in santa clara , california , develops and sells computer-aided detection technology and products ( cad ) , an innovative technology that assists radiologists in the early detection of breast cancer .', 'the aggregate purchase price for r2 of approximately $ 220600 consisted of approximately 4400 shares of hologic common stock valued at $ 205500 , cash paid of $ 6900 , debt assumed of $ 5700 and approximately $ 2500 for acquisition related fees and expenses .', 'the company determined the fair value of the shares issued in connection with the acquisition in accordance with eitf issue no .', '99-12 , determination of the measurement date for the market price of acquirer securities issued in a purchase business combination .', 'the components and allocation of the purchase price , consists of the following approximate amounts: .']
####
Data Table:
----------------------------------------
net tangible assets acquired as of july 13 2006 | $ 1200
in-process research and development | 10200
developed technology and know how | 39500
customer relationship | 15700
trade name | 3300
order backlog | 800
deferred income taxes | 4400
goodwill | 145500
estimated purchase price | $ 220600
----------------------------------------
####
Additional Information: ['the company finalized and completed a plan to restructure certain of r2 2019s historical activities .', 'as of the acquisition date the company recorded a liability of approximately $ 798 in accordance with eitf issue no .', '95-3 , recognition of liabilities in connection with a purchase business combination , related to the termination of certain employees and loss related to the abandonment of certain lease space under this plan .', 'all amounts under this plan have been paid as of september 29 , 2007 .', 'the company reduced goodwill related to the r2 acquisition in the amount of approximately $ 400 during the year ended september 29 , 2007 .', 'the reduction was primarily related to a change in the preliminary valuation of certain assets and liabilities acquired based on information received during the year .', 'the final purchase price allocations were completed within one year of the .'] | 0.03128 | HOLX/2007/page_128.pdf-2 | ['hologic , inc .', 'notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) purchased products that the company continues to sell as well as utilize to enhance and incorporate into the company 2019s existing products .', 'the intangible assets are expected to be amortized on a straight-line basis over the expected useful lives as the anticipated undiscounted cash flows are relatively consistent over the expected useful lives of the intangible assets .', 'the estimated $ 600 of purchase price allocated to in-process research and development projects related to aeg 2019s organic photoconductor coating and selenium product lines .', 'the deferred income tax liability relates to the tax effect of acquired identifiable intangible assets , and fair value adjustments to acquired inventory , land , building and related improvements as such amounts are not deductible for tax purposes .', 'the company had an existing relationship with aeg as a supplier of inventory items .', 'the supply agreement was entered into in prior years at arm 2019s length terms and conditions .', 'no minimum purchase requirements existed and the pricing was consistent with other vendor agreements .', 'acquisition of r2 technology , inc .', 'on july 13 , 2006 , the company completed the acquisition of r2 technology , inc .', '( r2 ) pursuant to an agreement and plan of merger dated april 24 , 2006 .', 'the results of operations for r2 have been included in the company 2019s consolidated financial statements from the date of acquisition as part of its mammography/breast care business segment .', 'r2 , previously located in santa clara , california , develops and sells computer-aided detection technology and products ( cad ) , an innovative technology that assists radiologists in the early detection of breast cancer .', 'the aggregate purchase price for r2 of approximately $ 220600 consisted of approximately 4400 shares of hologic common stock valued at $ 205500 , cash paid of $ 6900 , debt assumed of $ 5700 and approximately $ 2500 for acquisition related fees and expenses .', 'the company determined the fair value of the shares issued in connection with the acquisition in accordance with eitf issue no .', '99-12 , determination of the measurement date for the market price of acquirer securities issued in a purchase business combination .', 'the components and allocation of the purchase price , consists of the following approximate amounts: .'] | ['the company finalized and completed a plan to restructure certain of r2 2019s historical activities .', 'as of the acquisition date the company recorded a liability of approximately $ 798 in accordance with eitf issue no .', '95-3 , recognition of liabilities in connection with a purchase business combination , related to the termination of certain employees and loss related to the abandonment of certain lease space under this plan .', 'all amounts under this plan have been paid as of september 29 , 2007 .', 'the company reduced goodwill related to the r2 acquisition in the amount of approximately $ 400 during the year ended september 29 , 2007 .', 'the reduction was primarily related to a change in the preliminary valuation of certain assets and liabilities acquired based on information received during the year .', 'the final purchase price allocations were completed within one year of the .'] | ----------------------------------------
net tangible assets acquired as of july 13 2006 | $ 1200
in-process research and development | 10200
developed technology and know how | 39500
customer relationship | 15700
trade name | 3300
order backlog | 800
deferred income taxes | 4400
goodwill | 145500
estimated purchase price | $ 220600
---------------------------------------- | divide(6900, 220600) | 0.03128 |
what was total mainline operating expenses for 2015? | Context: ['table of contents certain union-represented american mainline employees are covered by agreements that are not currently amendable .', 'until those agreements become amendable , negotiations for jcbas will be conducted outside the traditional rla bargaining process described above , and , in the meantime , no self-help will be permissible .', 'the piedmont mechanics and stock clerks and the psa dispatchers have agreements that are now amendable and are engaged in traditional rla negotiations .', 'none of the unions representing our employees presently may lawfully engage in concerted refusals to work , such as strikes , slow-downs , sick-outs or other similar activity , against us .', 'nonetheless , there is a risk that disgruntled employees , either with or without union involvement , could engage in one or more concerted refusals to work that could individually or collectively harm the operation of our airline and impair our financial performance .', '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 .', 'based on our 2016 forecasted mainline and regional fuel consumption , we estimate that , as of december 31 , 2015 , a one cent per gallon increase in aviation fuel price would increase our 2016 annual fuel expense by $ 44 million .', 'the following table shows annual aircraft fuel consumption and costs , including taxes , for our mainline operations for 2015 and 2014 ( gallons and aircraft fuel expense in millions ) .', 'year gallons average price per gallon aircraft fuel expense percent of total mainline operating expenses .']
####
Tabular Data:
year | gallons | average price pergallon | aircraft fuel expense | percent of total mainline operating expenses
----------|----------|----------|----------|----------
2015 | 3611 | $ 1.72 | $ 6226 | 21.6% ( 21.6 % )
2014 | 3644 | 2.91 | 10592 | 33.2% ( 33.2 % )
####
Follow-up: ['total fuel expenses for our wholly-owned and third-party regional carriers operating under capacity purchase agreements of american were $ 1.2 billion and $ 2.0 billion for the years ended december 31 , 2015 and 2014 , respectively .', 'as of december 31 , 2015 , 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 , 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 , additional fuel price volatility and cost increases in the future .', 'see part i , item 1a .', 'risk factors 2013 201cour business is dependent on the price and availability of aircraft fuel .', 'continued periods of high volatility in fuel costs , increased fuel prices and significant disruptions in the supply of aircraft fuel could have a significant negative impact on our operating results and liquidity . 201d insurance we maintain insurance of the types that we believe are customary in the airline industry , including insurance for public liability , passenger liability , property damage , and all-risk coverage for damage to our aircraft .', 'principal coverage includes liability for injury to members of the public , including passengers , damage to .'] | 28824.07407 | AAL/2015/page_18.pdf-1 | ['table of contents certain union-represented american mainline employees are covered by agreements that are not currently amendable .', 'until those agreements become amendable , negotiations for jcbas will be conducted outside the traditional rla bargaining process described above , and , in the meantime , no self-help will be permissible .', 'the piedmont mechanics and stock clerks and the psa dispatchers have agreements that are now amendable and are engaged in traditional rla negotiations .', 'none of the unions representing our employees presently may lawfully engage in concerted refusals to work , such as strikes , slow-downs , sick-outs or other similar activity , against us .', 'nonetheless , there is a risk that disgruntled employees , either with or without union involvement , could engage in one or more concerted refusals to work that could individually or collectively harm the operation of our airline and impair our financial performance .', '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 .', 'based on our 2016 forecasted mainline and regional fuel consumption , we estimate that , as of december 31 , 2015 , a one cent per gallon increase in aviation fuel price would increase our 2016 annual fuel expense by $ 44 million .', 'the following table shows annual aircraft fuel consumption and costs , including taxes , for our mainline operations for 2015 and 2014 ( gallons and aircraft fuel expense in millions ) .', 'year gallons average price per gallon aircraft fuel expense percent of total mainline operating expenses .'] | ['total fuel expenses for our wholly-owned and third-party regional carriers operating under capacity purchase agreements of american were $ 1.2 billion and $ 2.0 billion for the years ended december 31 , 2015 and 2014 , respectively .', 'as of december 31 , 2015 , 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 , 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 , additional fuel price volatility and cost increases in the future .', 'see part i , item 1a .', 'risk factors 2013 201cour business is dependent on the price and availability of aircraft fuel .', 'continued periods of high volatility in fuel costs , increased fuel prices and significant disruptions in the supply of aircraft fuel could have a significant negative impact on our operating results and liquidity . 201d insurance we maintain insurance of the types that we believe are customary in the airline industry , including insurance for public liability , passenger liability , property damage , and all-risk coverage for damage to our aircraft .', 'principal coverage includes liability for injury to members of the public , including passengers , damage to .'] | year | gallons | average price pergallon | aircraft fuel expense | percent of total mainline operating expenses
----------|----------|----------|----------|----------
2015 | 3611 | $ 1.72 | $ 6226 | 21.6% ( 21.6 % )
2014 | 3644 | 2.91 | 10592 | 33.2% ( 33.2 % ) | divide(6226, 21.6%) | 28824.07407 |
what was total net undeveloped acres expiring for the three year period , in thousands? | Context: ['in the ordinary course of business , based on our evaluations of certain geologic trends and prospective economics , we have allowed certain lease acreage to expire and may allow additional acreage to expire in the future .', 'if production is not established or we take no other action to extend the terms of the leases , licenses or concessions , undeveloped acreage listed in the table below will expire over the next three years .', 'we plan to continue the terms of certain of these licenses and concession areas or retain leases through operational or administrative actions ; however , the majority of the undeveloped acres associated with other africa as listed in the table below pertains to our licenses in ethiopia and kenya , for which we executed agreements in 2015 to sell .', 'the kenya transaction closed in february 2016 and the ethiopia transaction is expected to close in the first quarter of 2016 .', 'see item 8 .', 'financial statements and supplementary data - note 5 to the consolidated financial statements for additional information about this disposition .', 'net undeveloped acres expiring year ended december 31 .']
--
Tabular Data:
( in thousands ) | net undeveloped acres expiring year ended december 31 , 2016 | net undeveloped acres expiring year ended december 31 , 2017 | net undeveloped acres expiring year ended december 31 , 2018
----------|----------|----------|----------
u.s . | 68 | 89 | 128
e.g . | 2014 | 92 | 36
other africa | 189 | 4352 | 854
total africa | 189 | 4444 | 890
other international | 2014 | 2014 | 2014
total | 257 | 4533 | 1018
--
Follow-up: ['.'] | 5808.0 | MRO/2015/page_18.pdf-3 | ['in the ordinary course of business , based on our evaluations of certain geologic trends and prospective economics , we have allowed certain lease acreage to expire and may allow additional acreage to expire in the future .', 'if production is not established or we take no other action to extend the terms of the leases , licenses or concessions , undeveloped acreage listed in the table below will expire over the next three years .', 'we plan to continue the terms of certain of these licenses and concession areas or retain leases through operational or administrative actions ; however , the majority of the undeveloped acres associated with other africa as listed in the table below pertains to our licenses in ethiopia and kenya , for which we executed agreements in 2015 to sell .', 'the kenya transaction closed in february 2016 and the ethiopia transaction is expected to close in the first quarter of 2016 .', 'see item 8 .', 'financial statements and supplementary data - note 5 to the consolidated financial statements for additional information about this disposition .', 'net undeveloped acres expiring year ended december 31 .'] | ['.'] | ( in thousands ) | net undeveloped acres expiring year ended december 31 , 2016 | net undeveloped acres expiring year ended december 31 , 2017 | net undeveloped acres expiring year ended december 31 , 2018
----------|----------|----------|----------
u.s . | 68 | 89 | 128
e.g . | 2014 | 92 | 36
other africa | 189 | 4352 | 854
total africa | 189 | 4444 | 890
other international | 2014 | 2014 | 2014
total | 257 | 4533 | 1018 | table_sum(total, none) | 5808.0 |
what was the percentage increase in the cash provided by operating activities from 2006 to 2007 | Background: ['2022 fuel prices 2013 crude oil prices increased at a steady rate in 2007 , rising from a low of $ 56.58 per barrel in january to close at nearly $ 96.00 per barrel at the end of december .', 'our 2007 average fuel price increased by 9% ( 9 % ) and added $ 242 million of operating expenses compared to 2006 .', 'our fuel surcharge programs are designed to help offset the impact of higher fuel prices .', 'in addition , our fuel conservation efforts allowed us to improve our consumption rate by 2% ( 2 % ) .', 'locomotive simulator training , operating practices , and technology all contributed to this improvement , saving approximately 21 million gallons of fuel in 2007 .', '2022 free cash flow 2013 cash generated by operating activities totaled a record $ 3.3 billion , yielding free cash flow of $ 487 million in 2007 .', 'free cash flow is defined as cash provided by operating activities , less cash used in investing activities and dividends paid .', 'free cash flow is not considered a financial measure under accounting principles generally accepted in the united states ( gaap ) by sec regulation g and item 10 of sec regulation s-k .', 'we believe free cash flow is important in evaluating our financial performance and measures our ability to generate cash without additional external financings .', 'free cash flow should be considered in addition to , rather than as a substitute for , cash provided by operating activities .', 'the following table reconciles cash provided by operating activities ( gaap measure ) to free cash flow ( non-gaap measure ) : millions of dollars 2007 2006 2005 .']
--
Table:
----------------------------------------
millions of dollars 2007 2006 2005
cash provided by operating activities $ 3277 $ 2880 $ 2595
cash used in investing activities -2426 ( 2426 ) -2042 ( 2042 ) -2047 ( 2047 )
dividends paid -364 ( 364 ) -322 ( 322 ) -314 ( 314 )
free cash flow $ 487 $ 516 $ 234
----------------------------------------
--
Post-table: ['2008 outlook 2022 safety 2013 operating a safe railroad benefits our employees , our customers , our shareholders , and the public .', 'we will continue using a multi-faceted approach to safety , utilizing technology , risk assessment , quality control , and training for , and engaging with our employees .', 'we plan to implement total safety culture ( tsc ) throughout our operations .', 'tsc , an employee-focused initiative that has helped improve safety , is a process designed to establish , maintain , and promote safety among co-workers .', 'with respect to public safety , we will continue our efforts to maintain , upgrade , and close crossings , install video cameras on locomotives , and educate the public about crossing safety through various internal and industry programs , along with other activities .', '2022 commodity revenue 2013 despite uncertainty regarding the u.s .', 'economy , we expect record revenue in 2008 based on current economic indicators , forecasted demand , improved customer service , and additional opportunities to reprice certain of our business .', 'yield increases and fuel surcharges will be the primary drivers of commodity revenue growth in 2008 .', 'we expect that overall volume will fall within a range of 1% ( 1 % ) higher to 1% ( 1 % ) lower than 2007 , with continued softness in some market sectors .', '2022 transportation plan 2013 in 2008 , we will continue to evaluate traffic flows and network logistic patterns to identify additional opportunities to simplify operations and improve network efficiency and asset utilization .', 'we plan to maintain adequate manpower and locomotives , improve productivity using industrial engineering techniques , and improve our operating margins .', '2022 fuel prices 2013 fuel prices should remain volatile , with crude oil prices and conversion and regional spreads fluctuating throughout the year .', 'on average , we expect fuel prices to increase 15% ( 15 % ) to 20% ( 20 % ) above the average price in 2007 .', 'to reduce the impact of fuel price on earnings , we will continue to seek recovery from our customers through our fuel surcharge programs and expand our fuel conservation efforts. .'] | 0.13785 | UNP/2007/page_25.pdf-2 | ['2022 fuel prices 2013 crude oil prices increased at a steady rate in 2007 , rising from a low of $ 56.58 per barrel in january to close at nearly $ 96.00 per barrel at the end of december .', 'our 2007 average fuel price increased by 9% ( 9 % ) and added $ 242 million of operating expenses compared to 2006 .', 'our fuel surcharge programs are designed to help offset the impact of higher fuel prices .', 'in addition , our fuel conservation efforts allowed us to improve our consumption rate by 2% ( 2 % ) .', 'locomotive simulator training , operating practices , and technology all contributed to this improvement , saving approximately 21 million gallons of fuel in 2007 .', '2022 free cash flow 2013 cash generated by operating activities totaled a record $ 3.3 billion , yielding free cash flow of $ 487 million in 2007 .', 'free cash flow is defined as cash provided by operating activities , less cash used in investing activities and dividends paid .', 'free cash flow is not considered a financial measure under accounting principles generally accepted in the united states ( gaap ) by sec regulation g and item 10 of sec regulation s-k .', 'we believe free cash flow is important in evaluating our financial performance and measures our ability to generate cash without additional external financings .', 'free cash flow should be considered in addition to , rather than as a substitute for , cash provided by operating activities .', 'the following table reconciles cash provided by operating activities ( gaap measure ) to free cash flow ( non-gaap measure ) : millions of dollars 2007 2006 2005 .'] | ['2008 outlook 2022 safety 2013 operating a safe railroad benefits our employees , our customers , our shareholders , and the public .', 'we will continue using a multi-faceted approach to safety , utilizing technology , risk assessment , quality control , and training for , and engaging with our employees .', 'we plan to implement total safety culture ( tsc ) throughout our operations .', 'tsc , an employee-focused initiative that has helped improve safety , is a process designed to establish , maintain , and promote safety among co-workers .', 'with respect to public safety , we will continue our efforts to maintain , upgrade , and close crossings , install video cameras on locomotives , and educate the public about crossing safety through various internal and industry programs , along with other activities .', '2022 commodity revenue 2013 despite uncertainty regarding the u.s .', 'economy , we expect record revenue in 2008 based on current economic indicators , forecasted demand , improved customer service , and additional opportunities to reprice certain of our business .', 'yield increases and fuel surcharges will be the primary drivers of commodity revenue growth in 2008 .', 'we expect that overall volume will fall within a range of 1% ( 1 % ) higher to 1% ( 1 % ) lower than 2007 , with continued softness in some market sectors .', '2022 transportation plan 2013 in 2008 , we will continue to evaluate traffic flows and network logistic patterns to identify additional opportunities to simplify operations and improve network efficiency and asset utilization .', 'we plan to maintain adequate manpower and locomotives , improve productivity using industrial engineering techniques , and improve our operating margins .', '2022 fuel prices 2013 fuel prices should remain volatile , with crude oil prices and conversion and regional spreads fluctuating throughout the year .', 'on average , we expect fuel prices to increase 15% ( 15 % ) to 20% ( 20 % ) above the average price in 2007 .', 'to reduce the impact of fuel price on earnings , we will continue to seek recovery from our customers through our fuel surcharge programs and expand our fuel conservation efforts. .'] | ----------------------------------------
millions of dollars 2007 2006 2005
cash provided by operating activities $ 3277 $ 2880 $ 2595
cash used in investing activities -2426 ( 2426 ) -2042 ( 2042 ) -2047 ( 2047 )
dividends paid -364 ( 364 ) -322 ( 322 ) -314 ( 314 )
free cash flow $ 487 $ 516 $ 234
---------------------------------------- | subtract(3277, 2880), divide(#0, 2880) | 0.13785 |
what was the change in research and development net in millions from 2017 to 2018? | Background: ['52 2018 ppg annual report and 10-k 1 .', 'summary of significant accounting policies principles of consolidation the accompanying consolidated financial statements include the accounts of ppg industries , inc .', '( 201cppg 201d or the 201ccompany 201d ) and all subsidiaries , both u.s .', 'and non-u.s. , that it controls .', 'ppg owns more than 50% ( 50 % ) of the voting stock of most of the subsidiaries that it controls .', 'for those consolidated subsidiaries in which the company 2019s ownership is less than 100% ( 100 % ) , the outside shareholders 2019 interests are shown as noncontrolling interests .', 'investments in companies in which ppg owns 20% ( 20 % ) to 50% ( 50 % ) of the voting stock and has the ability to exercise significant influence over operating and financial policies of the investee are accounted for using the equity method of accounting .', 'as a result , ppg 2019s share of income or losses from such equity affiliates is included in the consolidated statement of income and ppg 2019s share of these companies 2019 shareholders 2019 equity is included in investments on the consolidated balance sheet .', 'transactions between ppg and its subsidiaries are eliminated in consolidation .', 'use of estimates in the preparation of financial statements the preparation of financial statements in conformity with u.s .', 'generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements , as well as the reported amounts of income and expenses during the reporting period .', 'such estimates also include the fair value of assets acquired and liabilities assumed resulting from the allocation of the purchase price related to business combinations consummated .', 'actual outcomes could differ from those estimates .', 'revenue recognition revenue is recognized as performance obligations with the customer are satisfied , at an amount that is determined to be collectible .', 'for the sale of products , this generally occurs at the point in time when control of the company 2019s products transfers to the customer based on the agreed upon shipping terms .', 'shipping and handling costs amounts billed to customers for shipping and handling are reported in net sales in the consolidated statement of income .', 'shipping and handling costs incurred by the company for the delivery of goods to customers are included in cost of sales , exclusive of depreciation and amortization in the consolidated statement of income .', 'selling , general and administrative costs amounts presented in selling , general and administrative in the consolidated statement of income are comprised of selling , customer service , distribution and advertising costs , as well as the costs of providing corporate-wide functional support in such areas as finance , law , human resources and planning .', 'distribution costs pertain to the movement and storage of finished goods inventory at company-owned and leased warehouses and other distribution facilities .', 'advertising costs advertising costs are expensed as incurred and totaled $ 280 million , $ 313 million and $ 322 million in 2018 , 2017 and 2016 , respectively .', 'research and development research and development costs , which consist primarily of employee related costs , are charged to expense as incurred. .']
--------
Tabular Data:
========================================
( $ in millions ) 2018 2017 2016
research and development 2013 total $ 464 $ 472 $ 473
less depreciation on research facilities 23 21 20
research and development net $ 441 $ 451 $ 453
========================================
--------
Additional Information: ['legal costs legal costs , primarily include costs associated with acquisition and divestiture transactions , general litigation , environmental regulation compliance , patent and trademark protection and other general corporate purposes , are charged to expense as incurred .', 'income taxes income taxes are accounted for under the asset and liability method .', 'deferred tax assets and liabilities are recognized for the future tax consequences attributable to operating losses and tax credit carryforwards as well as differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases .', 'the effect on deferred notes to the consolidated financial statements .'] | -10.0 | PPG/2018/page_54.pdf-3 | ['52 2018 ppg annual report and 10-k 1 .', 'summary of significant accounting policies principles of consolidation the accompanying consolidated financial statements include the accounts of ppg industries , inc .', '( 201cppg 201d or the 201ccompany 201d ) and all subsidiaries , both u.s .', 'and non-u.s. , that it controls .', 'ppg owns more than 50% ( 50 % ) of the voting stock of most of the subsidiaries that it controls .', 'for those consolidated subsidiaries in which the company 2019s ownership is less than 100% ( 100 % ) , the outside shareholders 2019 interests are shown as noncontrolling interests .', 'investments in companies in which ppg owns 20% ( 20 % ) to 50% ( 50 % ) of the voting stock and has the ability to exercise significant influence over operating and financial policies of the investee are accounted for using the equity method of accounting .', 'as a result , ppg 2019s share of income or losses from such equity affiliates is included in the consolidated statement of income and ppg 2019s share of these companies 2019 shareholders 2019 equity is included in investments on the consolidated balance sheet .', 'transactions between ppg and its subsidiaries are eliminated in consolidation .', 'use of estimates in the preparation of financial statements the preparation of financial statements in conformity with u.s .', 'generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements , as well as the reported amounts of income and expenses during the reporting period .', 'such estimates also include the fair value of assets acquired and liabilities assumed resulting from the allocation of the purchase price related to business combinations consummated .', 'actual outcomes could differ from those estimates .', 'revenue recognition revenue is recognized as performance obligations with the customer are satisfied , at an amount that is determined to be collectible .', 'for the sale of products , this generally occurs at the point in time when control of the company 2019s products transfers to the customer based on the agreed upon shipping terms .', 'shipping and handling costs amounts billed to customers for shipping and handling are reported in net sales in the consolidated statement of income .', 'shipping and handling costs incurred by the company for the delivery of goods to customers are included in cost of sales , exclusive of depreciation and amortization in the consolidated statement of income .', 'selling , general and administrative costs amounts presented in selling , general and administrative in the consolidated statement of income are comprised of selling , customer service , distribution and advertising costs , as well as the costs of providing corporate-wide functional support in such areas as finance , law , human resources and planning .', 'distribution costs pertain to the movement and storage of finished goods inventory at company-owned and leased warehouses and other distribution facilities .', 'advertising costs advertising costs are expensed as incurred and totaled $ 280 million , $ 313 million and $ 322 million in 2018 , 2017 and 2016 , respectively .', 'research and development research and development costs , which consist primarily of employee related costs , are charged to expense as incurred. .'] | ['legal costs legal costs , primarily include costs associated with acquisition and divestiture transactions , general litigation , environmental regulation compliance , patent and trademark protection and other general corporate purposes , are charged to expense as incurred .', 'income taxes income taxes are accounted for under the asset and liability method .', 'deferred tax assets and liabilities are recognized for the future tax consequences attributable to operating losses and tax credit carryforwards as well as differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases .', 'the effect on deferred notes to the consolidated financial statements .'] | ========================================
( $ in millions ) 2018 2017 2016
research and development 2013 total $ 464 $ 472 $ 473
less depreciation on research facilities 23 21 20
research and development net $ 441 $ 451 $ 453
======================================== | subtract(441, 451) | -10.0 |
what was the percentage change in the excess of current cost over lifo cost from 2008 to 2009 . | Context: ['the contractual maturities of held-to-maturity securities as of january 30 , 2009 were in excess of three years and were $ 31.4 million at cost and $ 28.9 million at fair value , respectively .', 'for the successor year ended january 30 , 2009 and period ended february 1 , 2008 , and the predecessor period ended july 6 , 2007 and year ended february 2 , 2007 , gross realized gains and losses on the sales of available-for-sale securities were not material .', 'the cost of securities sold is based upon the specific identification method .', 'merchandise inventories inventories are stated at the lower of cost or market with cost determined using the retail last-in , first-out ( 201clifo 201d ) method .', 'under the company 2019s retail inventory method ( 201crim 201d ) , the calculation of gross profit and the resulting valuation of inventories at cost are computed by applying a calculated cost-to-retail inventory ratio to the retail value of sales at a department level .', 'costs directly associated with warehousing and distribution are capitalized into inventory .', 'the excess of current cost over lifo cost was approximately $ 50.0 million at january 30 , 2009 and $ 6.1 million at february 1 , 2008 .', 'current cost is determined using the retail first-in , first-out method .', 'the company 2019s lifo reserves were adjusted to zero at july 6 , 2007 as a result of the merger .', 'the successor recorded lifo provisions of $ 43.9 million and $ 6.1 million during 2008 and 2007 , respectively .', 'the predecessor recorded a lifo credit of $ 1.5 million in 2006 .', 'in 2008 , the increased commodity cost pressures mainly related to food and pet products which have been driven by fruit and vegetable prices and rising freight costs .', 'increases in petroleum , resin , metals , pulp and other raw material commodity driven costs also resulted in multiple product cost increases .', 'the company intends to address these commodity cost increases through negotiations with its vendors and by increasing retail prices as necessary .', 'on a quarterly basis , the company estimates the annual impact of commodity cost fluctuations based upon the best available information at that point in time .', 'store pre-opening costs pre-opening costs related to new store openings and the construction periods are expensed as incurred .', 'property and equipment property and equipment are recorded at cost .', 'the company provides for depreciation and amortization on a straight-line basis over the following estimated useful lives: .']
--
Table:
========================================
land improvements 20
buildings 39-40
furniture fixtures and equipment 3-10
========================================
--
Follow-up: ['improvements of leased properties are amortized over the shorter of the life of the applicable lease term or the estimated useful life of the asset. .'] | 43.9 | DG/2008/page_73.pdf-3 | ['the contractual maturities of held-to-maturity securities as of january 30 , 2009 were in excess of three years and were $ 31.4 million at cost and $ 28.9 million at fair value , respectively .', 'for the successor year ended january 30 , 2009 and period ended february 1 , 2008 , and the predecessor period ended july 6 , 2007 and year ended february 2 , 2007 , gross realized gains and losses on the sales of available-for-sale securities were not material .', 'the cost of securities sold is based upon the specific identification method .', 'merchandise inventories inventories are stated at the lower of cost or market with cost determined using the retail last-in , first-out ( 201clifo 201d ) method .', 'under the company 2019s retail inventory method ( 201crim 201d ) , the calculation of gross profit and the resulting valuation of inventories at cost are computed by applying a calculated cost-to-retail inventory ratio to the retail value of sales at a department level .', 'costs directly associated with warehousing and distribution are capitalized into inventory .', 'the excess of current cost over lifo cost was approximately $ 50.0 million at january 30 , 2009 and $ 6.1 million at february 1 , 2008 .', 'current cost is determined using the retail first-in , first-out method .', 'the company 2019s lifo reserves were adjusted to zero at july 6 , 2007 as a result of the merger .', 'the successor recorded lifo provisions of $ 43.9 million and $ 6.1 million during 2008 and 2007 , respectively .', 'the predecessor recorded a lifo credit of $ 1.5 million in 2006 .', 'in 2008 , the increased commodity cost pressures mainly related to food and pet products which have been driven by fruit and vegetable prices and rising freight costs .', 'increases in petroleum , resin , metals , pulp and other raw material commodity driven costs also resulted in multiple product cost increases .', 'the company intends to address these commodity cost increases through negotiations with its vendors and by increasing retail prices as necessary .', 'on a quarterly basis , the company estimates the annual impact of commodity cost fluctuations based upon the best available information at that point in time .', 'store pre-opening costs pre-opening costs related to new store openings and the construction periods are expensed as incurred .', 'property and equipment property and equipment are recorded at cost .', 'the company provides for depreciation and amortization on a straight-line basis over the following estimated useful lives: .'] | ['improvements of leased properties are amortized over the shorter of the life of the applicable lease term or the estimated useful life of the asset. .'] | ========================================
land improvements 20
buildings 39-40
furniture fixtures and equipment 3-10
======================================== | subtract(50.0, 6.1) | 43.9 |
what was the percentage change in the gross profit from 2009 to 2010 \\n | Pre-text: ['year ended december 31 , 2010 compared to year ended december 31 , 2009 net revenues increased $ 207.5 million , or 24.2% ( 24.2 % ) , to $ 1063.9 million in 2010 from $ 856.4 million in 2009 .', 'net revenues by product category are summarized below: .']
Table:
****************************************
( in thousands ) | year ended december 31 , 2010 | year ended december 31 , 2009 | year ended december 31 , $ change | year ended december 31 , % ( % ) change
----------|----------|----------|----------|----------
apparel | $ 853493 | $ 651779 | $ 201714 | 30.9% ( 30.9 % )
footwear | 127175 | 136224 | -9049 ( 9049 ) | -6.6 ( 6.6 )
accessories | 43882 | 35077 | 8805 | 25.1
total net sales | 1024550 | 823080 | 201470 | 24.5
license revenues | 39377 | 33331 | 6046 | 18.1
total net revenues | $ 1063927 | $ 856411 | $ 207516 | 24.2% ( 24.2 % )
****************************************
Additional Information: ['net sales increased $ 201.5 million , or 24.5% ( 24.5 % ) , to $ 1024.6 million in 2010 from $ 823.1 million in 2009 as noted in the table above .', 'the increase in net sales primarily reflects : 2022 $ 88.9 million , or 56.8% ( 56.8 % ) , increase in direct to consumer sales , which includes 19 additional stores in 2010 ; and 2022 unit growth driven by increased distribution and new offerings in multiple product categories , most significantly in our training , base layer , mountain , golf and underwear categories ; partially offset by 2022 $ 9.0 million decrease in footwear sales driven primarily by a decline in running and training footwear sales .', 'license revenues increased $ 6.1 million , or 18.1% ( 18.1 % ) , to $ 39.4 million in 2010 from $ 33.3 million in 2009 .', 'this increase in license revenues was primarily a result of increased sales by our licensees due to increased distribution and continued unit volume growth .', 'we have developed our own headwear and bags , and beginning in 2011 , these products are being sold by us rather than by one of our licensees .', 'gross profit increased $ 120.4 million to $ 530.5 million in 2010 from $ 410.1 million in 2009 .', 'gross profit as a percentage of net revenues , or gross margin , increased 200 basis points to 49.9% ( 49.9 % ) in 2010 compared to 47.9% ( 47.9 % ) in 2009 .', 'the increase in gross margin percentage was primarily driven by the following : 2022 approximate 100 basis point increase driven by increased direct to consumer higher margin sales ; 2022 approximate 50 basis point increase driven by decreased sales markdowns and returns , primarily due to improved sell-through rates at retail ; and 2022 approximate 50 basis point increase driven primarily by liquidation sales and related inventory reserve reversals .', 'the current year period benefited from reversals of inventory reserves established in the prior year relative to certain cleated footwear , sport specific apparel and gloves .', 'these products have historically been more difficult to liquidate at favorable prices .', 'selling , general and administrative expenses increased $ 93.3 million to $ 418.2 million in 2010 from $ 324.9 million in 2009 .', 'as a percentage of net revenues , selling , general and administrative expenses increased to 39.3% ( 39.3 % ) in 2010 from 37.9% ( 37.9 % ) in 2009 .', 'these changes were primarily attributable to the following : 2022 marketing costs increased $ 19.3 million to $ 128.2 million in 2010 from $ 108.9 million in 2009 primarily due to an increase in sponsorship of events and collegiate and professional teams and athletes , increased television and digital campaign costs , including media campaigns for specific customers and additional personnel costs .', 'in addition , we incurred increased expenses for our performance incentive plan as compared to the prior year .', 'as a percentage of net revenues , marketing costs decreased to 12.0% ( 12.0 % ) in 2010 from 12.7% ( 12.7 % ) in 2009 primarily due to decreased marketing costs for specific customers. .'] | 3.40615 | UA/2011/page_42.pdf-1 | ['year ended december 31 , 2010 compared to year ended december 31 , 2009 net revenues increased $ 207.5 million , or 24.2% ( 24.2 % ) , to $ 1063.9 million in 2010 from $ 856.4 million in 2009 .', 'net revenues by product category are summarized below: .'] | ['net sales increased $ 201.5 million , or 24.5% ( 24.5 % ) , to $ 1024.6 million in 2010 from $ 823.1 million in 2009 as noted in the table above .', 'the increase in net sales primarily reflects : 2022 $ 88.9 million , or 56.8% ( 56.8 % ) , increase in direct to consumer sales , which includes 19 additional stores in 2010 ; and 2022 unit growth driven by increased distribution and new offerings in multiple product categories , most significantly in our training , base layer , mountain , golf and underwear categories ; partially offset by 2022 $ 9.0 million decrease in footwear sales driven primarily by a decline in running and training footwear sales .', 'license revenues increased $ 6.1 million , or 18.1% ( 18.1 % ) , to $ 39.4 million in 2010 from $ 33.3 million in 2009 .', 'this increase in license revenues was primarily a result of increased sales by our licensees due to increased distribution and continued unit volume growth .', 'we have developed our own headwear and bags , and beginning in 2011 , these products are being sold by us rather than by one of our licensees .', 'gross profit increased $ 120.4 million to $ 530.5 million in 2010 from $ 410.1 million in 2009 .', 'gross profit as a percentage of net revenues , or gross margin , increased 200 basis points to 49.9% ( 49.9 % ) in 2010 compared to 47.9% ( 47.9 % ) in 2009 .', 'the increase in gross margin percentage was primarily driven by the following : 2022 approximate 100 basis point increase driven by increased direct to consumer higher margin sales ; 2022 approximate 50 basis point increase driven by decreased sales markdowns and returns , primarily due to improved sell-through rates at retail ; and 2022 approximate 50 basis point increase driven primarily by liquidation sales and related inventory reserve reversals .', 'the current year period benefited from reversals of inventory reserves established in the prior year relative to certain cleated footwear , sport specific apparel and gloves .', 'these products have historically been more difficult to liquidate at favorable prices .', 'selling , general and administrative expenses increased $ 93.3 million to $ 418.2 million in 2010 from $ 324.9 million in 2009 .', 'as a percentage of net revenues , selling , general and administrative expenses increased to 39.3% ( 39.3 % ) in 2010 from 37.9% ( 37.9 % ) in 2009 .', 'these changes were primarily attributable to the following : 2022 marketing costs increased $ 19.3 million to $ 128.2 million in 2010 from $ 108.9 million in 2009 primarily due to an increase in sponsorship of events and collegiate and professional teams and athletes , increased television and digital campaign costs , including media campaigns for specific customers and additional personnel costs .', 'in addition , we incurred increased expenses for our performance incentive plan as compared to the prior year .', 'as a percentage of net revenues , marketing costs decreased to 12.0% ( 12.0 % ) in 2010 from 12.7% ( 12.7 % ) in 2009 primarily due to decreased marketing costs for specific customers. .'] | ****************************************
( in thousands ) | year ended december 31 , 2010 | year ended december 31 , 2009 | year ended december 31 , $ change | year ended december 31 , % ( % ) change
----------|----------|----------|----------|----------
apparel | $ 853493 | $ 651779 | $ 201714 | 30.9% ( 30.9 % )
footwear | 127175 | 136224 | -9049 ( 9049 ) | -6.6 ( 6.6 )
accessories | 43882 | 35077 | 8805 | 25.1
total net sales | 1024550 | 823080 | 201470 | 24.5
license revenues | 39377 | 33331 | 6046 | 18.1
total net revenues | $ 1063927 | $ 856411 | $ 207516 | 24.2% ( 24.2 % )
**************************************** | subtract(530.5, 120.4), divide(#0, 120.4) | 3.40615 |
what was the average total revenue in 1999 , 2000 and 2001? | Pre-text: ['18 .', 'financial instruments : derivatives and hedging financial accounting standards board 2019s statement no .', '133 , 201caccounting for derivative instruments and hedging activities , 201d ( 201csfas 133 201d ) which became effective january 1 , 2001 requires the company to recognize all derivatives on the balance sheet at fair value .', 'derivatives that are not hedges must be adjusted to fair value through income .', 'if a derivative is a hedge , depending on the nature of the hedge , changes in the fair value of the derivative will either be offset against the change in fair value of the hedged asset , liability , or firm commitment through earnings , or recognized in other comprehensive income until the hedged item is recognized in earnings .', 'the ineffective portion of a derivative 2019s change in fair value will be immediately recognized in earnings .', 'the company recorded a cumulative effect adjustment upon the adoption of sfas 133 .', 'this cumulative effect adjustment , of which the intrinsic value of the hedge was recorded in other comprehensive income ( $ 811 ) and the time value component was recorded in the state- ment of income ( $ 532 ) , was an unrealized loss of $ 1343 .', 'the transition amounts were determined based on the interpretive guidance issued by the fasb at that date .', 'the fasb continues to issue interpretive guidance that could require changes in the company 2019s application of the standard and adjustments to the transition amounts .', 'sfas 133 may increase or decrease reported net income and stockholders 2019 equity prospectively , depending on future levels of interest rates and other variables affecting the fair values of derivative instruments and hedged items , but will have no effect on cash flows .', 'the following table summarizes the notional and fair value of the company 2019s derivative financial instruments at december 31 , 2001 .', 'the notional is an indication of the extent of the company 2019s involvement in these instruments at that time , but does not represent exposure to credit , interest rate or market risks .', 'notional strike fair value rate maturity value .']
Table:
****************************************
• , notional value, strike rate, maturity, fair value
• interest rate collar, $ 70000, 6.580% ( 6.580 % ), 11/2004, $ -4096 ( 4096 )
• interest rate swap, $ 65000, 4.010, 8/2005, $ 891
****************************************
Follow-up: ['on december 31 , 2001 , the derivative instruments were reported as an obligation at their fair value of $ 3205 .', 'offsetting adjustments are represented as deferred gains or losses in accumulated other comprehensive loss of $ 2911 .', 'currently , all derivative instruments are designated as hedging instruments .', 'over time , the unrealized gains and losses held in accumulated other comprehensive loss will be reclassified into earnings as interest expense in the same periods in which the hedged interest payments affect earnings .', 'the company estimates that approximately $ 1093 of the current balance held in accumulated other comprehensive loss will be reclassified into earnings within the next twelve months .', 'the company is not currently hedging exposure to variability in future cash flows for forecasted transactions other than anticipated future interest payments on existing debt .', '19 .', 'environmental matters management of the company believes that the properties are in compliance in all material respects with applicable federal , state and local ordinances and regulations regarding environmental issues .', 'management is not aware of any environmental liability that it believes would have a materially adverse impact on the company 2019s financial position , results of operations or cash flows .', 'management is unaware of any instances in which it would incur significant environmental cost if any of the properties were sold .', '20 .', 'segment information the company is a reit engaged in owning , managing , leasing and repositioning office properties in manhattan and has two reportable segments , office real estate and structured finance investments .', 'the company evaluates real estate performance and allocates resources based on net operating income .', 'the company 2019s real estate portfolio is located in one geo- graphical market of manhattan .', 'the primary sources of revenue are generated from tenant rents and escalations and reimburse- ment revenue .', 'real estate property operating expenses consist primarily of security , maintenance , utility costs , real estate taxes and ground rent expense ( at certain applicable properties ) .', 'at december 31 , 2001 and 2000 , of the total assets of $ 1371577 and $ 1161154 , $ 1182939 and $ 1109861 repre- sented real estate assets and $ 188638 and $ 51293 represented structured finance investments , respectively .', 'for the years ended december 31 , 2001 , 2000 and 1999 , of the total revenues of $ 257685 , $ 230323 and $ 206017 , $ 240316 , $ 217052 and $ 200751 represented total revenues from real estate assets and $ 17369 , $ 13271 and $ 5266 represented total revenues from structured finance investments .', 'for the years ended december 31 , 2001 , 2000 and 1999 , of the total net operating income of $ 63607 , $ 53152 and $ 48966 , $ 46238 , $ 39881 and $ 43700 represented net operat- ing income from real estate assets and $ 17369 , $ 13271 and $ 5266 represents net operating income from structured finance investments , respectively .', 'the company does not allocate mar- keting , general and administrative expenses or interest expense to the structured finance segment , since it bases performance on the individual segments prior to allocating marketing , general and administrative expenses and interest expense .', 'all other expenses relate solely to the real estate assets .', 'there were no transactions between the above two segments .', 'sl green realty corp .', 'notes to consolidated financial statements ( continued ) december 31 , 2001 ( dollars in thousands , except per share data ) .'] | 231341.66667 | SLG/2001/page_48.pdf-2 | ['18 .', 'financial instruments : derivatives and hedging financial accounting standards board 2019s statement no .', '133 , 201caccounting for derivative instruments and hedging activities , 201d ( 201csfas 133 201d ) which became effective january 1 , 2001 requires the company to recognize all derivatives on the balance sheet at fair value .', 'derivatives that are not hedges must be adjusted to fair value through income .', 'if a derivative is a hedge , depending on the nature of the hedge , changes in the fair value of the derivative will either be offset against the change in fair value of the hedged asset , liability , or firm commitment through earnings , or recognized in other comprehensive income until the hedged item is recognized in earnings .', 'the ineffective portion of a derivative 2019s change in fair value will be immediately recognized in earnings .', 'the company recorded a cumulative effect adjustment upon the adoption of sfas 133 .', 'this cumulative effect adjustment , of which the intrinsic value of the hedge was recorded in other comprehensive income ( $ 811 ) and the time value component was recorded in the state- ment of income ( $ 532 ) , was an unrealized loss of $ 1343 .', 'the transition amounts were determined based on the interpretive guidance issued by the fasb at that date .', 'the fasb continues to issue interpretive guidance that could require changes in the company 2019s application of the standard and adjustments to the transition amounts .', 'sfas 133 may increase or decrease reported net income and stockholders 2019 equity prospectively , depending on future levels of interest rates and other variables affecting the fair values of derivative instruments and hedged items , but will have no effect on cash flows .', 'the following table summarizes the notional and fair value of the company 2019s derivative financial instruments at december 31 , 2001 .', 'the notional is an indication of the extent of the company 2019s involvement in these instruments at that time , but does not represent exposure to credit , interest rate or market risks .', 'notional strike fair value rate maturity value .'] | ['on december 31 , 2001 , the derivative instruments were reported as an obligation at their fair value of $ 3205 .', 'offsetting adjustments are represented as deferred gains or losses in accumulated other comprehensive loss of $ 2911 .', 'currently , all derivative instruments are designated as hedging instruments .', 'over time , the unrealized gains and losses held in accumulated other comprehensive loss will be reclassified into earnings as interest expense in the same periods in which the hedged interest payments affect earnings .', 'the company estimates that approximately $ 1093 of the current balance held in accumulated other comprehensive loss will be reclassified into earnings within the next twelve months .', 'the company is not currently hedging exposure to variability in future cash flows for forecasted transactions other than anticipated future interest payments on existing debt .', '19 .', 'environmental matters management of the company believes that the properties are in compliance in all material respects with applicable federal , state and local ordinances and regulations regarding environmental issues .', 'management is not aware of any environmental liability that it believes would have a materially adverse impact on the company 2019s financial position , results of operations or cash flows .', 'management is unaware of any instances in which it would incur significant environmental cost if any of the properties were sold .', '20 .', 'segment information the company is a reit engaged in owning , managing , leasing and repositioning office properties in manhattan and has two reportable segments , office real estate and structured finance investments .', 'the company evaluates real estate performance and allocates resources based on net operating income .', 'the company 2019s real estate portfolio is located in one geo- graphical market of manhattan .', 'the primary sources of revenue are generated from tenant rents and escalations and reimburse- ment revenue .', 'real estate property operating expenses consist primarily of security , maintenance , utility costs , real estate taxes and ground rent expense ( at certain applicable properties ) .', 'at december 31 , 2001 and 2000 , of the total assets of $ 1371577 and $ 1161154 , $ 1182939 and $ 1109861 repre- sented real estate assets and $ 188638 and $ 51293 represented structured finance investments , respectively .', 'for the years ended december 31 , 2001 , 2000 and 1999 , of the total revenues of $ 257685 , $ 230323 and $ 206017 , $ 240316 , $ 217052 and $ 200751 represented total revenues from real estate assets and $ 17369 , $ 13271 and $ 5266 represented total revenues from structured finance investments .', 'for the years ended december 31 , 2001 , 2000 and 1999 , of the total net operating income of $ 63607 , $ 53152 and $ 48966 , $ 46238 , $ 39881 and $ 43700 represented net operat- ing income from real estate assets and $ 17369 , $ 13271 and $ 5266 represents net operating income from structured finance investments , respectively .', 'the company does not allocate mar- keting , general and administrative expenses or interest expense to the structured finance segment , since it bases performance on the individual segments prior to allocating marketing , general and administrative expenses and interest expense .', 'all other expenses relate solely to the real estate assets .', 'there were no transactions between the above two segments .', 'sl green realty corp .', 'notes to consolidated financial statements ( continued ) december 31 , 2001 ( dollars in thousands , except per share data ) .'] | ****************************************
• , notional value, strike rate, maturity, fair value
• interest rate collar, $ 70000, 6.580% ( 6.580 % ), 11/2004, $ -4096 ( 4096 )
• interest rate swap, $ 65000, 4.010, 8/2005, $ 891
**************************************** | add(257685, 230323), add(#0, 206017), divide(#1, const_3) | 231341.66667 |
what percentage of total maturities amortize after 2011? | Pre-text: ['ventas , inc .', 'notes to consolidated financial statements 2014 ( continued ) if we experience certain kinds of changes of control , the issuers must make an offer to repurchase the senior notes , in whole or in part , at a purchase price in cash equal to 101% ( 101 % ) of the principal amount of the senior notes , plus any accrued and unpaid interest to the date of purchase ; provided , however , that in the event moody 2019s and s&p have confirmed their ratings at ba3 or higher and bb- or higher on the senior notes and certain other conditions are met , this repurchase obligation will not apply .', 'mortgages at december 31 , 2006 , we had outstanding 53 mortgage loans that we assumed in connection with various acquisitions .', 'outstanding principal balances on these loans ranged from $ 0.4 million to $ 114.4 million as of december 31 , 2006 .', 'the loans bear interest at fixed rates ranging from 5.6% ( 5.6 % ) to 8.5% ( 8.5 % ) per annum , except with respect to eight loans with outstanding principal balances ranging from $ 0.4 million to $ 114.4 million , which bear interest at the lender 2019s variable rates , ranging from 3.6% ( 3.6 % ) to 8.5% ( 8.5 % ) per annum at of december 31 , 2006 .', 'the fixed rate debt bears interest at a weighted average annual rate of 7.06% ( 7.06 % ) and the variable rate debt bears interest at a weighted average annual rate of 5.61% ( 5.61 % ) as of december 31 , 2006 .', 'the loans had a weighted average maturity of eight years as of december 31 , 2006 .', 'the $ 114.4 variable mortgage debt was repaid in january 2007 .', 'scheduled maturities of borrowing arrangements and other provisions as of december 31 , 2006 , our indebtedness has the following maturities ( in thousands ) : .']
----------
Tabular Data:
----------------------------------------
Row 1: 2007, $ 130206
Row 2: 2008, 33117
Row 3: 2009, 372725
Row 4: 2010, 265915
Row 5: 2011, 273761
Row 6: thereafter, 1261265
Row 7: total maturities, 2336989
Row 8: less unamortized commission fees and discounts, -7936 ( 7936 )
Row 9: senior notes payable and other debt, $ 2329053
----------------------------------------
----------
Additional Information: ['certain provisions of our long-term debt contain covenants that limit our ability and the ability of certain of our subsidiaries to , among other things : ( i ) incur debt ; ( ii ) make certain dividends , distributions and investments ; ( iii ) enter into certain transactions ; ( iv ) merge , consolidate or transfer certain assets ; and ( v ) sell assets .', 'we and certain of our subsidiaries are also required to maintain total unencumbered assets of at least 150% ( 150 % ) of this group 2019s unsecured debt .', 'derivatives and hedging in the normal course of business , we are exposed to the effect of interest rate changes .', 'we limit these risks by following established risk management policies and procedures including the use of derivatives .', 'for interest rate exposures , derivatives are used primarily to fix the rate on debt based on floating-rate indices and to manage the cost of borrowing obligations .', 'we currently have an interest rate swap to manage interest rate risk ( the 201cswap 201d ) .', 'we prohibit the use of derivative instruments for trading or speculative purposes .', 'further , we have a policy of only entering into contracts with major financial institutions based upon their credit ratings and other factors .', 'when viewed in conjunction with the underlying and offsetting exposure that the derivative is designed to hedge , we do not anticipate any material adverse effect on our net income or financial position in the future from the use of derivatives. .'] | 0.5397 | VTR/2006/page_88.pdf-2 | ['ventas , inc .', 'notes to consolidated financial statements 2014 ( continued ) if we experience certain kinds of changes of control , the issuers must make an offer to repurchase the senior notes , in whole or in part , at a purchase price in cash equal to 101% ( 101 % ) of the principal amount of the senior notes , plus any accrued and unpaid interest to the date of purchase ; provided , however , that in the event moody 2019s and s&p have confirmed their ratings at ba3 or higher and bb- or higher on the senior notes and certain other conditions are met , this repurchase obligation will not apply .', 'mortgages at december 31 , 2006 , we had outstanding 53 mortgage loans that we assumed in connection with various acquisitions .', 'outstanding principal balances on these loans ranged from $ 0.4 million to $ 114.4 million as of december 31 , 2006 .', 'the loans bear interest at fixed rates ranging from 5.6% ( 5.6 % ) to 8.5% ( 8.5 % ) per annum , except with respect to eight loans with outstanding principal balances ranging from $ 0.4 million to $ 114.4 million , which bear interest at the lender 2019s variable rates , ranging from 3.6% ( 3.6 % ) to 8.5% ( 8.5 % ) per annum at of december 31 , 2006 .', 'the fixed rate debt bears interest at a weighted average annual rate of 7.06% ( 7.06 % ) and the variable rate debt bears interest at a weighted average annual rate of 5.61% ( 5.61 % ) as of december 31 , 2006 .', 'the loans had a weighted average maturity of eight years as of december 31 , 2006 .', 'the $ 114.4 variable mortgage debt was repaid in january 2007 .', 'scheduled maturities of borrowing arrangements and other provisions as of december 31 , 2006 , our indebtedness has the following maturities ( in thousands ) : .'] | ['certain provisions of our long-term debt contain covenants that limit our ability and the ability of certain of our subsidiaries to , among other things : ( i ) incur debt ; ( ii ) make certain dividends , distributions and investments ; ( iii ) enter into certain transactions ; ( iv ) merge , consolidate or transfer certain assets ; and ( v ) sell assets .', 'we and certain of our subsidiaries are also required to maintain total unencumbered assets of at least 150% ( 150 % ) of this group 2019s unsecured debt .', 'derivatives and hedging in the normal course of business , we are exposed to the effect of interest rate changes .', 'we limit these risks by following established risk management policies and procedures including the use of derivatives .', 'for interest rate exposures , derivatives are used primarily to fix the rate on debt based on floating-rate indices and to manage the cost of borrowing obligations .', 'we currently have an interest rate swap to manage interest rate risk ( the 201cswap 201d ) .', 'we prohibit the use of derivative instruments for trading or speculative purposes .', 'further , we have a policy of only entering into contracts with major financial institutions based upon their credit ratings and other factors .', 'when viewed in conjunction with the underlying and offsetting exposure that the derivative is designed to hedge , we do not anticipate any material adverse effect on our net income or financial position in the future from the use of derivatives. .'] | ----------------------------------------
Row 1: 2007, $ 130206
Row 2: 2008, 33117
Row 3: 2009, 372725
Row 4: 2010, 265915
Row 5: 2011, 273761
Row 6: thereafter, 1261265
Row 7: total maturities, 2336989
Row 8: less unamortized commission fees and discounts, -7936 ( 7936 )
Row 9: senior notes payable and other debt, $ 2329053
---------------------------------------- | divide(1261265, 2336989) | 0.5397 |
what was the percent of the decrease in the other intangible assets net from 2003 to 2004\\n | Pre-text: ['american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) a description of the company 2019s reporting units and the results of the related transitional impairment testing are as follows : verestar 2014verestar was a single segment and reporting unit until december 2002 , when the company committed to a plan to dispose of verestar .', 'the company recorded an impairment charge of $ 189.3 million relating to the impairment of goodwill in this reporting unit .', 'the fair value of this reporting unit was determined based on an independent third party appraisal .', 'network development services 2014as of january 1 , 2002 , the reporting units in the company 2019s network development services segment included kline , specialty constructors , galaxy , mts components and flash technologies .', 'the company estimated the fair value of these reporting units utilizing future discounted cash flows and market information as to the value of each reporting unit on january 1 , 2002 .', 'the company recorded an impairment charge of $ 387.8 million for the year ended december 31 , 2002 related to the impairment of goodwill within these reporting units .', 'such charge included full impairment for all of the goodwill within the reporting units except kline , for which only a partial impairment was recorded .', 'as discussed in note 2 , the assets of all of these reporting units were sold as of december 31 , 2003 , except for those of kline and our tower construction services unit , which were sold in march and november 2004 , respectively .', 'rental and management 2014the company obtained an independent third party appraisal of the rental and management reporting unit that contains goodwill and determined that goodwill was not impaired .', 'the company 2019s other intangible assets subject to amortization consist of the following as of december 31 , ( in thousands ) : .']
####
Data Table:
========================================
| 2004 | 2003
----------|----------|----------
acquired customer base and network location intangibles | $ 1369607 | $ 1299521
deferred financing costs | 89736 | 111484
acquired licenses and other intangibles | 43404 | 43125
total | 1502747 | 1454130
less accumulated amortization | -517444 ( 517444 ) | -434381 ( 434381 )
other intangible assets net | $ 985303 | $ 1019749
========================================
####
Follow-up: ['the company amortizes its intangible assets over periods ranging from three to fifteen years .', 'amortization of intangible assets for the years ended december 31 , 2004 and 2003 aggregated approximately $ 97.8 million and $ 94.6 million , respectively ( excluding amortization of deferred financing costs , which is included in interest expense ) .', 'the company expects to record amortization expense of approximately $ 97.8 million , $ 95.9 million , $ 92.0 million , $ 90.5 million and $ 88.8 million , respectively , for the years ended december 31 , 2005 , 2006 , 2007 , 2008 and 2009 , respectively .', '5 .', 'notes receivable in 2000 , the company loaned tv azteca , s.a .', 'de c.v .', '( tv azteca ) , the owner of a major national television network in mexico , $ 119.8 million .', 'the loan , which initially bore interest at 12.87% ( 12.87 % ) , payable quarterly , was discounted by the company , as the fair value interest rate at the date of the loan was determined to be 14.25% ( 14.25 % ) .', 'the loan was amended effective january 1 , 2003 to increase the original interest rate to 13.11% ( 13.11 % ) .', 'as of december 31 , 2004 , and 2003 , approximately $ 119.8 million undiscounted ( $ 108.2 million discounted ) under the loan was outstanding and included in notes receivable and other long-term assets in the accompanying consolidated balance sheets .', 'the term of the loan is seventy years ; however , the loan may be prepaid by tv .'] | -0.03378 | AMT/2004/page_81.pdf-2 | ['american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) a description of the company 2019s reporting units and the results of the related transitional impairment testing are as follows : verestar 2014verestar was a single segment and reporting unit until december 2002 , when the company committed to a plan to dispose of verestar .', 'the company recorded an impairment charge of $ 189.3 million relating to the impairment of goodwill in this reporting unit .', 'the fair value of this reporting unit was determined based on an independent third party appraisal .', 'network development services 2014as of january 1 , 2002 , the reporting units in the company 2019s network development services segment included kline , specialty constructors , galaxy , mts components and flash technologies .', 'the company estimated the fair value of these reporting units utilizing future discounted cash flows and market information as to the value of each reporting unit on january 1 , 2002 .', 'the company recorded an impairment charge of $ 387.8 million for the year ended december 31 , 2002 related to the impairment of goodwill within these reporting units .', 'such charge included full impairment for all of the goodwill within the reporting units except kline , for which only a partial impairment was recorded .', 'as discussed in note 2 , the assets of all of these reporting units were sold as of december 31 , 2003 , except for those of kline and our tower construction services unit , which were sold in march and november 2004 , respectively .', 'rental and management 2014the company obtained an independent third party appraisal of the rental and management reporting unit that contains goodwill and determined that goodwill was not impaired .', 'the company 2019s other intangible assets subject to amortization consist of the following as of december 31 , ( in thousands ) : .'] | ['the company amortizes its intangible assets over periods ranging from three to fifteen years .', 'amortization of intangible assets for the years ended december 31 , 2004 and 2003 aggregated approximately $ 97.8 million and $ 94.6 million , respectively ( excluding amortization of deferred financing costs , which is included in interest expense ) .', 'the company expects to record amortization expense of approximately $ 97.8 million , $ 95.9 million , $ 92.0 million , $ 90.5 million and $ 88.8 million , respectively , for the years ended december 31 , 2005 , 2006 , 2007 , 2008 and 2009 , respectively .', '5 .', 'notes receivable in 2000 , the company loaned tv azteca , s.a .', 'de c.v .', '( tv azteca ) , the owner of a major national television network in mexico , $ 119.8 million .', 'the loan , which initially bore interest at 12.87% ( 12.87 % ) , payable quarterly , was discounted by the company , as the fair value interest rate at the date of the loan was determined to be 14.25% ( 14.25 % ) .', 'the loan was amended effective january 1 , 2003 to increase the original interest rate to 13.11% ( 13.11 % ) .', 'as of december 31 , 2004 , and 2003 , approximately $ 119.8 million undiscounted ( $ 108.2 million discounted ) under the loan was outstanding and included in notes receivable and other long-term assets in the accompanying consolidated balance sheets .', 'the term of the loan is seventy years ; however , the loan may be prepaid by tv .'] | ========================================
| 2004 | 2003
----------|----------|----------
acquired customer base and network location intangibles | $ 1369607 | $ 1299521
deferred financing costs | 89736 | 111484
acquired licenses and other intangibles | 43404 | 43125
total | 1502747 | 1454130
less accumulated amortization | -517444 ( 517444 ) | -434381 ( 434381 )
other intangible assets net | $ 985303 | $ 1019749
======================================== | subtract(985303, 1019749), divide(#0, 1019749) | -0.03378 |
what was the percentage change in rental expense from 2006 to 2007? | Context: ['lkq corporation and subsidiaries notes to consolidated financial statements ( continued ) note 5 .', 'long-term obligations ( continued ) as part of the consideration for business acquisitions completed during 2007 , 2006 and 2005 , we issued promissory notes totaling approximately $ 1.7 million , $ 7.2 million and $ 6.4 million , respectively .', 'the notes bear interest at annual rates of 3.0% ( 3.0 % ) to 6.0% ( 6.0 % ) , and interest is payable at maturity or in monthly installments .', 'we also assumed certain liabilities in connection with a business acquisition during the second quarter of 2005 , including a promissory note with a remaining principle balance of approximately $ 0.2 million .', 'the annual interest rate on the note , which was retired during 2006 , was note 6 .', 'commitments and contingencies operating leases we are obligated under noncancelable operating leases for corporate office space , warehouse and distribution facilities , trucks and certain equipment .', 'the future minimum lease commitments under these leases at december 31 , 2007 are as follows ( in thousands ) : years ending december 31: .']
Data Table:
========================================
2008 | $ 42335
2009 | 33249
2010 | 25149
2011 | 17425
2012 | 11750
thereafter | 28581
future minimum lease payments | $ 158489
========================================
Follow-up: ['rental expense for operating leases was approximately $ 27.4 million , $ 18.6 million and $ 12.2 million during the years ended december 31 , 2007 , 2006 and 2005 , respectively .', 'we guaranty the residual values of the majority of our truck and equipment operating leases .', 'the residual values decline over the lease terms to a defined percentage of original cost .', 'in the event the lessor does not realize the residual value when a piece of equipment is sold , we would be responsible for a portion of the shortfall .', 'similarly , if the lessor realizes more than the residual value when a piece of equipment is sold , we would be paid the amount realized over the residual value .', 'had we terminated all of our operating leases subject to these guaranties at december 31 , 2007 , the guarantied residual value would have totaled approximately $ 24.0 million .', 'litigation and related contingencies on december 2 , 2005 , ford global technologies , llc ( 2018 2018ford 2019 2019 ) filed a complaint with the united states international trade commission ( 2018 2018usitc 2019 2019 ) against keystone and five other named respondents , including four taiwan-based manufacturers .', 'on december 12 , 2005 , ford filed an amended complaint .', 'both the complaint and the amended complaint contended that keystone and the other respondents infringed 14 design patents that ford alleges cover eight parts on the 2004-2005 .'] | 0.47312 | LKQ/2007/page_76.pdf-2 | ['lkq corporation and subsidiaries notes to consolidated financial statements ( continued ) note 5 .', 'long-term obligations ( continued ) as part of the consideration for business acquisitions completed during 2007 , 2006 and 2005 , we issued promissory notes totaling approximately $ 1.7 million , $ 7.2 million and $ 6.4 million , respectively .', 'the notes bear interest at annual rates of 3.0% ( 3.0 % ) to 6.0% ( 6.0 % ) , and interest is payable at maturity or in monthly installments .', 'we also assumed certain liabilities in connection with a business acquisition during the second quarter of 2005 , including a promissory note with a remaining principle balance of approximately $ 0.2 million .', 'the annual interest rate on the note , which was retired during 2006 , was note 6 .', 'commitments and contingencies operating leases we are obligated under noncancelable operating leases for corporate office space , warehouse and distribution facilities , trucks and certain equipment .', 'the future minimum lease commitments under these leases at december 31 , 2007 are as follows ( in thousands ) : years ending december 31: .'] | ['rental expense for operating leases was approximately $ 27.4 million , $ 18.6 million and $ 12.2 million during the years ended december 31 , 2007 , 2006 and 2005 , respectively .', 'we guaranty the residual values of the majority of our truck and equipment operating leases .', 'the residual values decline over the lease terms to a defined percentage of original cost .', 'in the event the lessor does not realize the residual value when a piece of equipment is sold , we would be responsible for a portion of the shortfall .', 'similarly , if the lessor realizes more than the residual value when a piece of equipment is sold , we would be paid the amount realized over the residual value .', 'had we terminated all of our operating leases subject to these guaranties at december 31 , 2007 , the guarantied residual value would have totaled approximately $ 24.0 million .', 'litigation and related contingencies on december 2 , 2005 , ford global technologies , llc ( 2018 2018ford 2019 2019 ) filed a complaint with the united states international trade commission ( 2018 2018usitc 2019 2019 ) against keystone and five other named respondents , including four taiwan-based manufacturers .', 'on december 12 , 2005 , ford filed an amended complaint .', 'both the complaint and the amended complaint contended that keystone and the other respondents infringed 14 design patents that ford alleges cover eight parts on the 2004-2005 .'] | ========================================
2008 | $ 42335
2009 | 33249
2010 | 25149
2011 | 17425
2012 | 11750
thereafter | 28581
future minimum lease payments | $ 158489
======================================== | subtract(27.4, 18.6), divide(#0, 18.6) | 0.47312 |
what was the effect in difference of average borrowing rate due to the use of swaps in 2013? | Context: ['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: .']
----
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 % )
----------------------------------------
----
Post-table: ['( 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. .'] | 2.2 | MS/2013/page_223.pdf-1 | ['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, 2.2) | 2.2 |
what is the nuclear volume as a percentage of the decrease in net revenue from 2011 to 2012? | Background: ['2022 base rate increases at entergy texas beginning may 2011 as a result of the settlement of the december 2009 rate case and effective july 2012 as a result of the puct 2019s order in the december 2011 rate case .', 'see note 2 to the financial statements for further discussion of the rate cases .', 'these increases were partially offset by formula rate plan decreases at entergy new orleans effective october 2011 and at entergy gulf states louisiana effective september 2012 .', 'see note 2 to the financial statements for further discussion of the formula rate plan decreases .', 'the grand gulf recovery variance is primarily due to increased recovery of higher costs resulting from the grand gulf uprate .', 'the net wholesale revenue variance is primarily due to decreased sales volume to municipal and co-op customers and lower prices .', 'the purchased power capacity variance is primarily due to price increases for ongoing purchased power capacity and additional capacity purchases .', 'the volume/weather variance is primarily due to decreased electricity usage , including the effect of milder weather as compared to the prior period on residential and commercial sales .', 'hurricane isaac , which hit the utility 2019s service area in august 2012 , also contributed to the decrease in electricity usage .', 'billed electricity usage decreased a total of 1684 gwh , or 2% ( 2 % ) , across all customer classes .', 'the louisiana act 55 financing savings obligation variance results from a regulatory charge recorded in 2012 because entergy gulf states louisiana and entergy louisiana agreed to share the savings from an irs settlement related to the uncertain tax position regarding the hurricane katrina and hurricane rita louisiana act 55 financing with customers .', 'see note 3 to the financial statements for additional discussion of the tax settlement .', 'entergy wholesale commodities following is an analysis of the change in net revenue comparing 2012 to 2011 .', 'amount ( in millions ) .']
##########
Table:
----------------------------------------
Row 1: , amount ( in millions )
Row 2: 2011 net revenue, $ 2045
Row 3: nuclear realized price changes, -194 ( 194 )
Row 4: nuclear volume, -33 ( 33 )
Row 5: other, 36
Row 6: 2012 net revenue, $ 1854
----------------------------------------
##########
Additional Information: ['as shown in the table above , net revenue for entergy wholesale commodities decreased by $ 191 million , or 9% ( 9 % ) , in 2012 compared to 2011 primarily due to lower pricing in its contracts to sell power and lower volume in its nuclear fleet resulting from more unplanned and refueling outage days in 2012 as compared to 2011 which was partially offset by the exercise of resupply options provided for in purchase power agreements whereby entergy wholesale commodities may elect to supply power from another source when the plant is not running .', 'amounts related to the exercise of resupply options are included in the gwh billed in the table below .', 'partially offsetting the lower net revenue from the nuclear fleet was higher net revenue from the rhode island state energy center , which was acquired in december 2011 .', "entergy corporation and subsidiaries management's financial discussion and analysis ."] | 0.17277 | ETR/2013/page_21.pdf-4 | ['2022 base rate increases at entergy texas beginning may 2011 as a result of the settlement of the december 2009 rate case and effective july 2012 as a result of the puct 2019s order in the december 2011 rate case .', 'see note 2 to the financial statements for further discussion of the rate cases .', 'these increases were partially offset by formula rate plan decreases at entergy new orleans effective october 2011 and at entergy gulf states louisiana effective september 2012 .', 'see note 2 to the financial statements for further discussion of the formula rate plan decreases .', 'the grand gulf recovery variance is primarily due to increased recovery of higher costs resulting from the grand gulf uprate .', 'the net wholesale revenue variance is primarily due to decreased sales volume to municipal and co-op customers and lower prices .', 'the purchased power capacity variance is primarily due to price increases for ongoing purchased power capacity and additional capacity purchases .', 'the volume/weather variance is primarily due to decreased electricity usage , including the effect of milder weather as compared to the prior period on residential and commercial sales .', 'hurricane isaac , which hit the utility 2019s service area in august 2012 , also contributed to the decrease in electricity usage .', 'billed electricity usage decreased a total of 1684 gwh , or 2% ( 2 % ) , across all customer classes .', 'the louisiana act 55 financing savings obligation variance results from a regulatory charge recorded in 2012 because entergy gulf states louisiana and entergy louisiana agreed to share the savings from an irs settlement related to the uncertain tax position regarding the hurricane katrina and hurricane rita louisiana act 55 financing with customers .', 'see note 3 to the financial statements for additional discussion of the tax settlement .', 'entergy wholesale commodities following is an analysis of the change in net revenue comparing 2012 to 2011 .', 'amount ( in millions ) .'] | ['as shown in the table above , net revenue for entergy wholesale commodities decreased by $ 191 million , or 9% ( 9 % ) , in 2012 compared to 2011 primarily due to lower pricing in its contracts to sell power and lower volume in its nuclear fleet resulting from more unplanned and refueling outage days in 2012 as compared to 2011 which was partially offset by the exercise of resupply options provided for in purchase power agreements whereby entergy wholesale commodities may elect to supply power from another source when the plant is not running .', 'amounts related to the exercise of resupply options are included in the gwh billed in the table below .', 'partially offsetting the lower net revenue from the nuclear fleet was higher net revenue from the rhode island state energy center , which was acquired in december 2011 .', "entergy corporation and subsidiaries management's financial discussion and analysis ."] | ----------------------------------------
Row 1: , amount ( in millions )
Row 2: 2011 net revenue, $ 2045
Row 3: nuclear realized price changes, -194 ( 194 )
Row 4: nuclear volume, -33 ( 33 )
Row 5: other, 36
Row 6: 2012 net revenue, $ 1854
---------------------------------------- | subtract(2045, 1854), divide(33, #0) | 0.17277 |
what portion of the balance of initial accrual is related to severances? | Context: ['as described above , the borrowings are extended on a non-recourse basis .', 'as such , there is no credit or market risk exposure to us on the assets , and as a result the terms of the amlf permit exclusion of the assets from regulatory leverage and risk-based capital calculations .', 'the interest rate on the borrowings is set by the federal reserve bank , and we earn net interest revenue by earning a spread on the difference between the yield we earn on the assets and the rate we pay on the borrowings .', 'for 2008 , we earned net interest revenue associated with this facility of approximately $ 68 million .', 'separately , we currently maintain a commercial paper program under which we can issue up to $ 3 billion with original maturities of up to 270 days from the date of issue .', 'at december 31 , 2008 and 2007 , $ 2.59 billion and $ 2.36 billion , respectively , of commercial paper were outstanding .', 'in addition , state street bank currently has board authority to issue bank notes up to an aggregate of $ 5 billion , including up to $ 2.48 billion of senior notes under the fdic 2019s temporary liquidity guarantee program , instituted by the fdic in october 2008 for qualified senior debt issued through june 30 , 2009 , and up to $ 1 billion of subordinated bank notes ( see note 10 ) .', 'at december 31 , 2008 and 2007 , no notes payable were outstanding , and at december 31 , 2008 , all $ 5 billion was available for issuance .', 'state street bank currently maintains a line of credit of cad $ 800 million , or approximately $ 657 million , to support its canadian securities processing operations .', 'the line of credit has no stated termination date and is cancelable by either party with prior notice .', 'at december 31 , 2008 , no balance was due on this line of credit .', 'note 9 .', 'restructuring charges in december 2008 , we implemented a plan to reduce our expenses from operations and support our long- term growth .', 'in connection with this plan , we recorded aggregate restructuring charges of $ 306 million in our consolidated statement of income .', 'the primary component of the plan was an involuntary reduction of approximately 7% ( 7 % ) of our global workforce , which reduction we expect to be substantially completed by the end of the first quarter of 2009 .', 'other components of the plan included costs related to lease and software license terminations , restructuring of agreements with technology providers and other costs .', 'of the aggregate restructuring charges of $ 306 million , $ 243 million related to severance , a portion of which will be paid in a lump sum or over a defined period , and a portion of which will provide related benefits and outplacement services for approximately 2100 employees identified for involuntary termination in connection with the plan ; $ 49 million related to future lease obligations and write-offs of capitalized assets , including $ 23 million for impairment of other intangible assets ; $ 10 million of costs associated with information technology and $ 4 million of other restructuring costs .', 'the severance component included $ 47 million related to accelerated vesting of equity-based compensation .', 'in december 2008 , approximately 620 employees were involuntarily terminated and left state street .', 'the following table presents the activity in the related balance sheet reserve for 2008 .', '( in millions ) severance lease and write-offs information technology other total .']
--
Table:
----------------------------------------
( in millions ) severance lease and asset write-offs information technology other total
initial accrual $ 250 $ 42 $ 10 $ 4 $ 306
payments and adjustments -20 ( 20 ) -25 ( 25 ) -10 ( 10 ) -1 ( 1 ) -56 ( 56 )
balance at december 31 2008 $ 230 $ 17 2014 $ 3 $ 250
----------------------------------------
--
Post-table: ['.'] | 0.81699 | STT/2008/page_109.pdf-3 | ['as described above , the borrowings are extended on a non-recourse basis .', 'as such , there is no credit or market risk exposure to us on the assets , and as a result the terms of the amlf permit exclusion of the assets from regulatory leverage and risk-based capital calculations .', 'the interest rate on the borrowings is set by the federal reserve bank , and we earn net interest revenue by earning a spread on the difference between the yield we earn on the assets and the rate we pay on the borrowings .', 'for 2008 , we earned net interest revenue associated with this facility of approximately $ 68 million .', 'separately , we currently maintain a commercial paper program under which we can issue up to $ 3 billion with original maturities of up to 270 days from the date of issue .', 'at december 31 , 2008 and 2007 , $ 2.59 billion and $ 2.36 billion , respectively , of commercial paper were outstanding .', 'in addition , state street bank currently has board authority to issue bank notes up to an aggregate of $ 5 billion , including up to $ 2.48 billion of senior notes under the fdic 2019s temporary liquidity guarantee program , instituted by the fdic in october 2008 for qualified senior debt issued through june 30 , 2009 , and up to $ 1 billion of subordinated bank notes ( see note 10 ) .', 'at december 31 , 2008 and 2007 , no notes payable were outstanding , and at december 31 , 2008 , all $ 5 billion was available for issuance .', 'state street bank currently maintains a line of credit of cad $ 800 million , or approximately $ 657 million , to support its canadian securities processing operations .', 'the line of credit has no stated termination date and is cancelable by either party with prior notice .', 'at december 31 , 2008 , no balance was due on this line of credit .', 'note 9 .', 'restructuring charges in december 2008 , we implemented a plan to reduce our expenses from operations and support our long- term growth .', 'in connection with this plan , we recorded aggregate restructuring charges of $ 306 million in our consolidated statement of income .', 'the primary component of the plan was an involuntary reduction of approximately 7% ( 7 % ) of our global workforce , which reduction we expect to be substantially completed by the end of the first quarter of 2009 .', 'other components of the plan included costs related to lease and software license terminations , restructuring of agreements with technology providers and other costs .', 'of the aggregate restructuring charges of $ 306 million , $ 243 million related to severance , a portion of which will be paid in a lump sum or over a defined period , and a portion of which will provide related benefits and outplacement services for approximately 2100 employees identified for involuntary termination in connection with the plan ; $ 49 million related to future lease obligations and write-offs of capitalized assets , including $ 23 million for impairment of other intangible assets ; $ 10 million of costs associated with information technology and $ 4 million of other restructuring costs .', 'the severance component included $ 47 million related to accelerated vesting of equity-based compensation .', 'in december 2008 , approximately 620 employees were involuntarily terminated and left state street .', 'the following table presents the activity in the related balance sheet reserve for 2008 .', '( in millions ) severance lease and write-offs information technology other total .'] | ['.'] | ----------------------------------------
( in millions ) severance lease and asset write-offs information technology other total
initial accrual $ 250 $ 42 $ 10 $ 4 $ 306
payments and adjustments -20 ( 20 ) -25 ( 25 ) -10 ( 10 ) -1 ( 1 ) -56 ( 56 )
balance at december 31 2008 $ 230 $ 17 2014 $ 3 $ 250
---------------------------------------- | divide(250, 306) | 0.81699 |
what percentage of future minimum lease payments under the capital lease obligations is due in 2019? | Background: ['dish network corporation notes to consolidated financial statements - continued capital lease obligations anik f3 .', 'anik f3 , an fss satellite , was launched and commenced commercial operation during april 2007 .', 'this satellite is accounted for as a capital lease and depreciated over the term of the satellite service agreement .', 'we have leased 100% ( 100 % ) of the ku-band capacity on anik f3 for a period of 15 years .', 'ciel ii .', 'ciel ii , a canadian dbs satellite , was launched in december 2008 and commenced commercial operation during february 2009 .', 'this satellite is accounted for as a capital lease and depreciated over the term of the satellite service agreement .', 'we have leased 100% ( 100 % ) of the capacity on ciel ii for an initial 10 year term .', 'as of december 31 , 2014 and 2013 , we had $ 500 million capitalized for the estimated fair value of satellites acquired under capital leases included in 201cproperty and equipment , net , 201d with related accumulated depreciation of $ 279 million and $ 236 million , respectively .', 'in our consolidated statements of operations and comprehensive income ( loss ) , we recognized $ 43 million , $ 43 million and $ 43 million in depreciation expense on satellites acquired under capital lease agreements during the years ended december 31 , 2014 , 2013 and 2012 , respectively .', 'future minimum lease payments under the capital lease obligations , together with the present value of the net minimum lease payments as of december 31 , 2014 are as follows ( in thousands ) : for the years ended december 31 .']
--------
Data Table:
----------------------------------------
2015, $ 77089
2016, 76809
2017, 76007
2018, 75982
2019, 50331
thereafter, 112000
total minimum lease payments, 468218
less : amount representing lease of the orbital location and estimated executory costs ( primarily insurance and maintenance ) including profit thereon included in total minimum lease payments, -220883 ( 220883 )
net minimum lease payments, 247335
less : amount representing interest, -52421 ( 52421 )
present value of net minimum lease payments, 194914
less : current portion, -28378 ( 28378 )
long-term portion of capital lease obligations, $ 166536
----------------------------------------
--------
Additional Information: ['the summary of future maturities of our outstanding long-term debt as of december 31 , 2014 is included in the commitments table in note 16 .', '12 .', 'income taxes and accounting for uncertainty in income taxes income taxes our income tax policy is to record the estimated future tax effects of temporary differences between the tax bases of assets and liabilities and amounts reported on our consolidated balance sheets , as well as probable operating loss , tax credit and other carryforwards .', 'deferred tax assets are offset by valuation allowances when we believe it is more likely than not that net deferred tax assets will not be realized .', 'we periodically evaluate our need for a valuation allowance .', 'determining necessary valuation allowances requires us to make assessments about historical financial information as well as the timing of future events , including the probability of expected future taxable income and available tax planning opportunities .', 'we file consolidated tax returns in the u.s .', 'the income taxes of domestic and foreign subsidiaries not included in the u.s .', 'tax group are presented in our consolidated financial statements based on a separate return basis for each tax paying entity. .'] | 0.10749 | DISH/2014/page_142.pdf-2 | ['dish network corporation notes to consolidated financial statements - continued capital lease obligations anik f3 .', 'anik f3 , an fss satellite , was launched and commenced commercial operation during april 2007 .', 'this satellite is accounted for as a capital lease and depreciated over the term of the satellite service agreement .', 'we have leased 100% ( 100 % ) of the ku-band capacity on anik f3 for a period of 15 years .', 'ciel ii .', 'ciel ii , a canadian dbs satellite , was launched in december 2008 and commenced commercial operation during february 2009 .', 'this satellite is accounted for as a capital lease and depreciated over the term of the satellite service agreement .', 'we have leased 100% ( 100 % ) of the capacity on ciel ii for an initial 10 year term .', 'as of december 31 , 2014 and 2013 , we had $ 500 million capitalized for the estimated fair value of satellites acquired under capital leases included in 201cproperty and equipment , net , 201d with related accumulated depreciation of $ 279 million and $ 236 million , respectively .', 'in our consolidated statements of operations and comprehensive income ( loss ) , we recognized $ 43 million , $ 43 million and $ 43 million in depreciation expense on satellites acquired under capital lease agreements during the years ended december 31 , 2014 , 2013 and 2012 , respectively .', 'future minimum lease payments under the capital lease obligations , together with the present value of the net minimum lease payments as of december 31 , 2014 are as follows ( in thousands ) : for the years ended december 31 .'] | ['the summary of future maturities of our outstanding long-term debt as of december 31 , 2014 is included in the commitments table in note 16 .', '12 .', 'income taxes and accounting for uncertainty in income taxes income taxes our income tax policy is to record the estimated future tax effects of temporary differences between the tax bases of assets and liabilities and amounts reported on our consolidated balance sheets , as well as probable operating loss , tax credit and other carryforwards .', 'deferred tax assets are offset by valuation allowances when we believe it is more likely than not that net deferred tax assets will not be realized .', 'we periodically evaluate our need for a valuation allowance .', 'determining necessary valuation allowances requires us to make assessments about historical financial information as well as the timing of future events , including the probability of expected future taxable income and available tax planning opportunities .', 'we file consolidated tax returns in the u.s .', 'the income taxes of domestic and foreign subsidiaries not included in the u.s .', 'tax group are presented in our consolidated financial statements based on a separate return basis for each tax paying entity. .'] | ----------------------------------------
2015, $ 77089
2016, 76809
2017, 76007
2018, 75982
2019, 50331
thereafter, 112000
total minimum lease payments, 468218
less : amount representing lease of the orbital location and estimated executory costs ( primarily insurance and maintenance ) including profit thereon included in total minimum lease payments, -220883 ( 220883 )
net minimum lease payments, 247335
less : amount representing interest, -52421 ( 52421 )
present value of net minimum lease payments, 194914
less : current portion, -28378 ( 28378 )
long-term portion of capital lease obligations, $ 166536
---------------------------------------- | divide(50331, 468218) | 0.10749 |
what is the difference between firth rixson's goodwill and the rti's? | Context: ['properties , plants , and equipment .', 'properties , plants , and equipment are recorded at cost .', 'depreciation is recorded principally on the straight-line method at rates based on the estimated useful lives of the assets .', 'the following table details the weighted-average useful lives of structures and machinery and equipment by reporting segment ( numbers in years ) : .']
Table:
----------------------------------------
segment structures machinery and equipment
global rolled products 31 21
engineered products and solutions 29 17
transportation and construction solutions 27 19
----------------------------------------
Additional Information: ['gains or losses from the sale of assets are generally recorded in other income , net ( see policy below for assets classified as held for sale and discontinued operations ) .', 'repairs and maintenance are charged to expense as incurred .', 'interest related to the construction of qualifying assets is capitalized as part of the construction costs .', 'properties , plants , and equipment are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets ( asset group ) may not be recoverable .', 'recoverability of assets is determined by comparing the estimated undiscounted net cash flows of the operations related to the assets ( asset group ) to their carrying amount .', 'an impairment loss would be recognized when the carrying amount of the assets ( asset group ) exceeds the estimated undiscounted net cash flows .', 'the amount of the impairment loss to be recorded is calculated as the excess of the carrying value of the assets ( asset group ) over their fair value , with fair value determined using the best information available , which generally is a discounted cash flow ( dcf ) model .', 'the determination of what constitutes an asset group , the associated estimated undiscounted net cash flows , and the estimated useful lives of assets also require significant judgments .', 'goodwill and other intangible assets .', 'goodwill is not amortized ; instead , it is reviewed for impairment annually ( in the fourth quarter ) or more frequently if indicators of impairment exist or if a decision is made to sell or exit a business .', 'a significant amount of judgment is involved in determining if an indicator of impairment has occurred .', 'such indicators may include deterioration in general economic conditions , negative developments in equity and credit markets , adverse changes in the markets in which an entity operates , increases in input costs that have a negative effect on earnings and cash flows , or a trend of negative or declining cash flows over multiple periods , among others .', 'the fair value that could be realized in an actual transaction may differ from that used to evaluate the impairment of goodwill .', 'goodwill is allocated among and evaluated for impairment at the reporting unit level , which is defined as an operating segment or one level below an operating segment .', 'arconic has eight reporting units , of which four are included in the engineered products and solutions segment , three are included in the transportation and construction solutions segment , and the remaining reporting unit is the global rolled products segment .', 'more than 70% ( 70 % ) of arconic 2019s total goodwill is allocated to two reporting units as follows : arconic fastening systems and rings ( afsr ) ( $ 2200 ) and arconic power and propulsion ( app ) ( $ 1647 ) businesses , both of which are included in the engineered products and solutions segment .', 'these amounts include an allocation of corporate 2019s goodwill .', 'in november 2014 , arconic acquired firth rixson ( see note f ) , and , as a result recognized $ 1801 in goodwill .', 'this amount was allocated between the afsr and arconic forgings and extrusions ( afe ) reporting units , which is part of the engineered products and solutions segment .', 'in march and july 2015 , arconic acquired tital and rti , respectively , ( see note f ) and recognized $ 117 and $ 298 , respectively , in goodwill .', 'the goodwill amount related to tital was allocated to the app reporting unit and the amount related to rti was allocated to arconic titanium and engineered products ( atep ) , a new arconic reporting unit that consists solely of the acquired rti business and is part of the engineered products and solutions segment .', 'in reviewing goodwill for impairment , an entity has the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not ( greater than 50% ( 50 % ) ) that the estimated fair value of a reporting unit is less than its carrying amount .', 'if an entity elects to perform a qualitative assessment and determines that an impairment is more likely than not , the entity is then required to perform the .'] | 1503.0 | HWM/2016/page_79.pdf-2 | ['properties , plants , and equipment .', 'properties , plants , and equipment are recorded at cost .', 'depreciation is recorded principally on the straight-line method at rates based on the estimated useful lives of the assets .', 'the following table details the weighted-average useful lives of structures and machinery and equipment by reporting segment ( numbers in years ) : .'] | ['gains or losses from the sale of assets are generally recorded in other income , net ( see policy below for assets classified as held for sale and discontinued operations ) .', 'repairs and maintenance are charged to expense as incurred .', 'interest related to the construction of qualifying assets is capitalized as part of the construction costs .', 'properties , plants , and equipment are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets ( asset group ) may not be recoverable .', 'recoverability of assets is determined by comparing the estimated undiscounted net cash flows of the operations related to the assets ( asset group ) to their carrying amount .', 'an impairment loss would be recognized when the carrying amount of the assets ( asset group ) exceeds the estimated undiscounted net cash flows .', 'the amount of the impairment loss to be recorded is calculated as the excess of the carrying value of the assets ( asset group ) over their fair value , with fair value determined using the best information available , which generally is a discounted cash flow ( dcf ) model .', 'the determination of what constitutes an asset group , the associated estimated undiscounted net cash flows , and the estimated useful lives of assets also require significant judgments .', 'goodwill and other intangible assets .', 'goodwill is not amortized ; instead , it is reviewed for impairment annually ( in the fourth quarter ) or more frequently if indicators of impairment exist or if a decision is made to sell or exit a business .', 'a significant amount of judgment is involved in determining if an indicator of impairment has occurred .', 'such indicators may include deterioration in general economic conditions , negative developments in equity and credit markets , adverse changes in the markets in which an entity operates , increases in input costs that have a negative effect on earnings and cash flows , or a trend of negative or declining cash flows over multiple periods , among others .', 'the fair value that could be realized in an actual transaction may differ from that used to evaluate the impairment of goodwill .', 'goodwill is allocated among and evaluated for impairment at the reporting unit level , which is defined as an operating segment or one level below an operating segment .', 'arconic has eight reporting units , of which four are included in the engineered products and solutions segment , three are included in the transportation and construction solutions segment , and the remaining reporting unit is the global rolled products segment .', 'more than 70% ( 70 % ) of arconic 2019s total goodwill is allocated to two reporting units as follows : arconic fastening systems and rings ( afsr ) ( $ 2200 ) and arconic power and propulsion ( app ) ( $ 1647 ) businesses , both of which are included in the engineered products and solutions segment .', 'these amounts include an allocation of corporate 2019s goodwill .', 'in november 2014 , arconic acquired firth rixson ( see note f ) , and , as a result recognized $ 1801 in goodwill .', 'this amount was allocated between the afsr and arconic forgings and extrusions ( afe ) reporting units , which is part of the engineered products and solutions segment .', 'in march and july 2015 , arconic acquired tital and rti , respectively , ( see note f ) and recognized $ 117 and $ 298 , respectively , in goodwill .', 'the goodwill amount related to tital was allocated to the app reporting unit and the amount related to rti was allocated to arconic titanium and engineered products ( atep ) , a new arconic reporting unit that consists solely of the acquired rti business and is part of the engineered products and solutions segment .', 'in reviewing goodwill for impairment , an entity has the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not ( greater than 50% ( 50 % ) ) that the estimated fair value of a reporting unit is less than its carrying amount .', 'if an entity elects to perform a qualitative assessment and determines that an impairment is more likely than not , the entity is then required to perform the .'] | ----------------------------------------
segment structures machinery and equipment
global rolled products 31 21
engineered products and solutions 29 17
transportation and construction solutions 27 19
---------------------------------------- | subtract(1801, 298) | 1503.0 |
what was the profit margin in 2011 | Background: ['million excluding a gain on a bargain purchase price adjustment on the acquisition of a majority share of our operations in turkey and restructuring costs ) compared with $ 53 million ( $ 72 million excluding restructuring costs ) in 2012 and $ 66 million ( $ 61 million excluding a gain for a bargain purchase price adjustment on an acquisition by our then joint venture in turkey and costs associated with the closure of our etienne mill in france in 2009 ) in 2011 .', 'sales volumes in 2013 were higher than in 2012 reflecting strong demand for packaging in the agricultural markets in morocco and turkey .', 'in europe , sales volumes decreased slightly due to continuing weak demand for packaging in the industrial markets , and lower demand for packaging in the agricultural markets resulting from poor weather conditions .', 'average sales margins were significantly lower due to input costs for containerboard rising ahead of box sales price increases .', 'other input costs were also higher , primarily for energy .', 'operating profits in 2013 and 2012 included net gains of $ 13 million and $ 10 million , respectively , for insurance settlements and italian government grants , partially offset by additional operating costs , related to the earthquakes in northern italy in may 2012 which affected our san felice box plant .', 'entering the first quarter of 2014 , sales volumes are expected to increase slightly reflecting higher demand for packaging in the industrial markets .', 'average sales margins are expected to gradually improve as a result of slight reductions in material costs and planned box price increases .', 'other input costs should be about flat .', 'brazilian industrial packaging includes the results of orsa international paper embalagens s.a. , a corrugated packaging producer in which international paper acquired a 75% ( 75 % ) share in january 2013 .', 'net sales were $ 335 million in 2013 .', 'operating profits in 2013 were a loss of $ 2 million ( a gain of $ 2 million excluding acquisition and integration costs ) .', 'looking ahead to the first quarter of 2014 , sales volumes are expected to be seasonally lower than in the fourth quarter of 2013 .', 'average sales margins should improve reflecting the partial implementation of an announced sales price increase and a more favorable product mix .', 'operating costs and input costs are expected to be lower .', 'asian industrial packaging net sales were $ 400 million in 2013 compared with $ 400 million in 2012 and $ 410 million in 2011 .', 'operating profits for the packaging operations were a loss of $ 5 million in 2013 ( a loss of $ 1 million excluding restructuring costs ) compared with gains of $ 2 million in 2012 and $ 2 million in 2011 .', 'operating profits were favorably impacted in 2013 by higher average sales margins and slightly higher sales volumes compared with 2012 , but these benefits were offset by higher operating costs .', 'looking ahead to the first quarter of 2014 , sales volumes and average sales margins are expected to be seasonally soft .', 'net sales for the distribution operations were $ 285 million in 2013 compared with $ 260 million in 2012 and $ 285 million in 2011 .', 'operating profits were $ 3 million in 2013 , 2012 and 2011 .', 'printing papers demand for printing papers products is closely correlated with changes in commercial printing and advertising activity , direct mail volumes and , for uncoated cut-size products , with changes in white- collar employment levels that affect the usage of copy and laser printer paper .', 'pulp is further affected by changes in currency rates that can enhance or disadvantage producers in different geographic regions .', 'principal cost drivers include manufacturing efficiency , raw material and energy costs and freight costs .', 'printing papers net sales for 2013 were about flat with both 2012 and 2011 .', 'operating profits in 2013 were 55% ( 55 % ) lower than in 2012 and 69% ( 69 % ) lower than in 2011 .', 'excluding facility closure costs and impairment costs , operating profits in 2013 were 15% ( 15 % ) lower than in 2012 and 40% ( 40 % ) lower than in 2011 .', 'benefits from lower operating costs ( $ 81 million ) and lower maintenance outage costs ( $ 17 million ) were more than offset by lower average sales price realizations ( $ 38 million ) , lower sales volumes ( $ 14 million ) , higher input costs ( $ 99 million ) and higher other costs ( $ 34 million ) .', 'in addition , operating profits in 2013 included costs of $ 118 million associated with the announced closure of our courtland , alabama mill .', 'during 2013 , the company accelerated depreciation for certain courtland assets , and diligently evaluated certain other assets for possible alternative uses by one of our other businesses .', 'the net book value of these assets at december 31 , 2013 was approximately $ 470 million .', 'during 2014 , we have continued our evaluation and expect to conclude as to any uses for these assets during the first quarter of 2014 .', 'operating profits also included a $ 123 million impairment charge associated with goodwill and a trade name intangible asset in our india papers business .', 'operating profits in 2011 included a $ 24 million gain related to the announced repurposing of our franklin , virginia mill to produce fluff pulp and an $ 11 million impairment charge related to our inverurie , scotland mill that was closed in 2009 .', 'printing papers .']
##########
Table:
----------------------------------------
in millions, 2013, 2012, 2011
sales, $ 6205, $ 6230, $ 6215
operating profit, 271, 599, 872
----------------------------------------
##########
Post-table: ['north american printing papers net sales were $ 2.6 billion in 2013 , $ 2.7 billion in 2012 and $ 2.8 billion in 2011. .'] | 0.14031 | IP/2013/page_62.pdf-4 | ['million excluding a gain on a bargain purchase price adjustment on the acquisition of a majority share of our operations in turkey and restructuring costs ) compared with $ 53 million ( $ 72 million excluding restructuring costs ) in 2012 and $ 66 million ( $ 61 million excluding a gain for a bargain purchase price adjustment on an acquisition by our then joint venture in turkey and costs associated with the closure of our etienne mill in france in 2009 ) in 2011 .', 'sales volumes in 2013 were higher than in 2012 reflecting strong demand for packaging in the agricultural markets in morocco and turkey .', 'in europe , sales volumes decreased slightly due to continuing weak demand for packaging in the industrial markets , and lower demand for packaging in the agricultural markets resulting from poor weather conditions .', 'average sales margins were significantly lower due to input costs for containerboard rising ahead of box sales price increases .', 'other input costs were also higher , primarily for energy .', 'operating profits in 2013 and 2012 included net gains of $ 13 million and $ 10 million , respectively , for insurance settlements and italian government grants , partially offset by additional operating costs , related to the earthquakes in northern italy in may 2012 which affected our san felice box plant .', 'entering the first quarter of 2014 , sales volumes are expected to increase slightly reflecting higher demand for packaging in the industrial markets .', 'average sales margins are expected to gradually improve as a result of slight reductions in material costs and planned box price increases .', 'other input costs should be about flat .', 'brazilian industrial packaging includes the results of orsa international paper embalagens s.a. , a corrugated packaging producer in which international paper acquired a 75% ( 75 % ) share in january 2013 .', 'net sales were $ 335 million in 2013 .', 'operating profits in 2013 were a loss of $ 2 million ( a gain of $ 2 million excluding acquisition and integration costs ) .', 'looking ahead to the first quarter of 2014 , sales volumes are expected to be seasonally lower than in the fourth quarter of 2013 .', 'average sales margins should improve reflecting the partial implementation of an announced sales price increase and a more favorable product mix .', 'operating costs and input costs are expected to be lower .', 'asian industrial packaging net sales were $ 400 million in 2013 compared with $ 400 million in 2012 and $ 410 million in 2011 .', 'operating profits for the packaging operations were a loss of $ 5 million in 2013 ( a loss of $ 1 million excluding restructuring costs ) compared with gains of $ 2 million in 2012 and $ 2 million in 2011 .', 'operating profits were favorably impacted in 2013 by higher average sales margins and slightly higher sales volumes compared with 2012 , but these benefits were offset by higher operating costs .', 'looking ahead to the first quarter of 2014 , sales volumes and average sales margins are expected to be seasonally soft .', 'net sales for the distribution operations were $ 285 million in 2013 compared with $ 260 million in 2012 and $ 285 million in 2011 .', 'operating profits were $ 3 million in 2013 , 2012 and 2011 .', 'printing papers demand for printing papers products is closely correlated with changes in commercial printing and advertising activity , direct mail volumes and , for uncoated cut-size products , with changes in white- collar employment levels that affect the usage of copy and laser printer paper .', 'pulp is further affected by changes in currency rates that can enhance or disadvantage producers in different geographic regions .', 'principal cost drivers include manufacturing efficiency , raw material and energy costs and freight costs .', 'printing papers net sales for 2013 were about flat with both 2012 and 2011 .', 'operating profits in 2013 were 55% ( 55 % ) lower than in 2012 and 69% ( 69 % ) lower than in 2011 .', 'excluding facility closure costs and impairment costs , operating profits in 2013 were 15% ( 15 % ) lower than in 2012 and 40% ( 40 % ) lower than in 2011 .', 'benefits from lower operating costs ( $ 81 million ) and lower maintenance outage costs ( $ 17 million ) were more than offset by lower average sales price realizations ( $ 38 million ) , lower sales volumes ( $ 14 million ) , higher input costs ( $ 99 million ) and higher other costs ( $ 34 million ) .', 'in addition , operating profits in 2013 included costs of $ 118 million associated with the announced closure of our courtland , alabama mill .', 'during 2013 , the company accelerated depreciation for certain courtland assets , and diligently evaluated certain other assets for possible alternative uses by one of our other businesses .', 'the net book value of these assets at december 31 , 2013 was approximately $ 470 million .', 'during 2014 , we have continued our evaluation and expect to conclude as to any uses for these assets during the first quarter of 2014 .', 'operating profits also included a $ 123 million impairment charge associated with goodwill and a trade name intangible asset in our india papers business .', 'operating profits in 2011 included a $ 24 million gain related to the announced repurposing of our franklin , virginia mill to produce fluff pulp and an $ 11 million impairment charge related to our inverurie , scotland mill that was closed in 2009 .', 'printing papers .'] | ['north american printing papers net sales were $ 2.6 billion in 2013 , $ 2.7 billion in 2012 and $ 2.8 billion in 2011. .'] | ----------------------------------------
in millions, 2013, 2012, 2011
sales, $ 6205, $ 6230, $ 6215
operating profit, 271, 599, 872
---------------------------------------- | divide(872, 6215) | 0.14031 |
what is the percentage increase in gross carrying amount from the beginning of 2015 to the end of 2016? | Pre-text: ['results of operations and the estimated fair value of acquired assets and assumed liabilities are recorded in the consolidated financial statements from the date of acquisition .', 'pro forma results of operations for the business combinations completed during fiscal 2016 have not been presented because the effects of these acquisitions , individually and in the aggregate , would not have been material to cadence 2019s financial results .', 'the fair values of acquired intangible assets and assumed liabilities were determined using significant inputs that are not observable in the market .', 'for an additional description of these fair value calculations , see note 16 in the notes to the consolidated financial statements .', 'a trust for the benefit of the children of lip-bu tan , cadence 2019s president , chief executive officer , or ceo , and director , owned less than 2% ( 2 % ) of rocketick technologies ltd. , one of the acquired companies , and mr .', 'tan and his wife serve as co-trustees of the trust and disclaim pecuniary and economic interest in the trust .', 'the board of directors of cadence reviewed the transaction and concluded that it was in the best interests of cadence to proceed with the transaction .', 'mr .', 'tan recused himself from the board of directors 2019 discussion of the valuation of rocketick technologies ltd .', 'and on whether to proceed with the transaction .', 'a financial advisor provided a fairness opinion to cadence in connection with the transaction .', '2014 acquisitions during fiscal 2014 , cadence acquired jasper design automation , inc. , or jasper , a privately held provider of formal analysis solutions based in mountain view , california .', 'the acquired technology complements cadence 2019s existing system design and verification platforms .', 'total cash consideration for jasper , after taking into account adjustments for certain costs , and cash held by jasper at closing of $ 28.7 million , was $ 139.4 million .', 'cadence will also make payments to certain employees through the third quarter of fiscal 2017 subject to continued employment and other conditions .', 'cadence also completed two other business combinations during fiscal 2014 for total cash consideration of $ 27.5 million , after taking into account cash acquired of $ 2.1 million .', 'acquisition-related transaction costs transaction costs associated with acquisitions were $ 1.1 million , $ 0.7 million and $ 3.7 million during fiscal 2016 , 2015 and 2014 , respectively .', 'these costs consist of professional fees and administrative costs and were expensed as incurred in cadence 2019s consolidated income statements .', 'note 8 .', 'goodwill and acquired intangibles goodwill the changes in the carrying amount of goodwill during fiscal 2016 and 2015 were as follows : gross carrying amount ( in thousands ) .']
----
Tabular Data:
----------------------------------------
| gross carryingamount ( in thousands )
----------|----------
balance as of january 3 2015 | $ 553767
effect of foreign currency translation | -1995 ( 1995 )
balance as of january 2 2016 | 551772
goodwill resulting from acquisitions | 23579
effect of foreign currency translation | -2587 ( 2587 )
balance as of december 31 2016 | $ 572764
----------------------------------------
----
Follow-up: ['cadence completed its annual goodwill impairment test during the third quarter of fiscal 2016 and determined that the fair value of cadence 2019s single reporting unit substantially exceeded the carrying amount of its net assets and that no impairment existed. .'] | 0.03431 | CDNS/2016/page_76.pdf-1 | ['results of operations and the estimated fair value of acquired assets and assumed liabilities are recorded in the consolidated financial statements from the date of acquisition .', 'pro forma results of operations for the business combinations completed during fiscal 2016 have not been presented because the effects of these acquisitions , individually and in the aggregate , would not have been material to cadence 2019s financial results .', 'the fair values of acquired intangible assets and assumed liabilities were determined using significant inputs that are not observable in the market .', 'for an additional description of these fair value calculations , see note 16 in the notes to the consolidated financial statements .', 'a trust for the benefit of the children of lip-bu tan , cadence 2019s president , chief executive officer , or ceo , and director , owned less than 2% ( 2 % ) of rocketick technologies ltd. , one of the acquired companies , and mr .', 'tan and his wife serve as co-trustees of the trust and disclaim pecuniary and economic interest in the trust .', 'the board of directors of cadence reviewed the transaction and concluded that it was in the best interests of cadence to proceed with the transaction .', 'mr .', 'tan recused himself from the board of directors 2019 discussion of the valuation of rocketick technologies ltd .', 'and on whether to proceed with the transaction .', 'a financial advisor provided a fairness opinion to cadence in connection with the transaction .', '2014 acquisitions during fiscal 2014 , cadence acquired jasper design automation , inc. , or jasper , a privately held provider of formal analysis solutions based in mountain view , california .', 'the acquired technology complements cadence 2019s existing system design and verification platforms .', 'total cash consideration for jasper , after taking into account adjustments for certain costs , and cash held by jasper at closing of $ 28.7 million , was $ 139.4 million .', 'cadence will also make payments to certain employees through the third quarter of fiscal 2017 subject to continued employment and other conditions .', 'cadence also completed two other business combinations during fiscal 2014 for total cash consideration of $ 27.5 million , after taking into account cash acquired of $ 2.1 million .', 'acquisition-related transaction costs transaction costs associated with acquisitions were $ 1.1 million , $ 0.7 million and $ 3.7 million during fiscal 2016 , 2015 and 2014 , respectively .', 'these costs consist of professional fees and administrative costs and were expensed as incurred in cadence 2019s consolidated income statements .', 'note 8 .', 'goodwill and acquired intangibles goodwill the changes in the carrying amount of goodwill during fiscal 2016 and 2015 were as follows : gross carrying amount ( in thousands ) .'] | ['cadence completed its annual goodwill impairment test during the third quarter of fiscal 2016 and determined that the fair value of cadence 2019s single reporting unit substantially exceeded the carrying amount of its net assets and that no impairment existed. .'] | ----------------------------------------
| gross carryingamount ( in thousands )
----------|----------
balance as of january 3 2015 | $ 553767
effect of foreign currency translation | -1995 ( 1995 )
balance as of january 2 2016 | 551772
goodwill resulting from acquisitions | 23579
effect of foreign currency translation | -2587 ( 2587 )
balance as of december 31 2016 | $ 572764
---------------------------------------- | subtract(572764, 553767), divide(#0, 553767) | 0.03431 |
how many of the year end 2015 proved undeveloped reserves were converted to proved developed reserves? | Pre-text: ['during 2015 , 2014 and 2013 , netherland , sewell & associates , inc .', '( "nsai" ) prepared a certification of the prior year\'s reserves for the alba field in e.g .', 'the nsai summary reports are filed as an exhibit to this annual report on form 10-k .', 'members of the nsai team have multiple years of industry experience , having worked for large , international oil and gas companies before joining nsai .', 'the senior technical advisor has over 35 years of practical experience in petroleum geosciences , with over 15 years experience in the estimation and evaluation of reserves .', 'the second team member has over 10 years of practical experience in petroleum engineering , with over five years experience in the estimation and evaluation of reserves .', 'both are registered professional engineers in the state of texas .', 'ryder scott company ( "ryder scott" ) also performed audits of the prior years\' reserves of several of our fields in 2015 , 2014 and 2013 .', 'their summary reports are filed as exhibits to this annual report on form 10-k .', 'the team lead for ryder scott has over 20 years of industry experience , having worked for a major international oil and gas company before joining ryder scott .', 'he is a member of spe , where he served on the oil and gas reserves committee , and is a registered professional engineer in the state of texas .', 'changes in proved undeveloped reserves as of december 31 , 2015 , 603 mmboe of proved undeveloped reserves were reported , a decrease of 125 mmboe from december 31 , 2014 .', 'the following table shows changes in total proved undeveloped reserves for 2015 : ( mmboe ) .']
##########
Tabular Data:
****************************************
beginning of year | 728
revisions of previous estimates | -223 ( 223 )
improved recovery | 1
purchases of reserves in place | 1
extensions discoveries and other additions | 175
dispositions | 2014
transfers to proved developed | -79 ( 79 )
end of year | 603
****************************************
##########
Additional Information: ['the revisions to previous estimates were largely due to a result of reductions to our capital development program which deferred proved undeveloped reserves beyond the 5-year plan .', 'a total of 139 mmboe was booked as extensions , discoveries or other additions and revisions due to the application of reliable technology .', 'technologies included statistical analysis of production performance , decline curve analysis , pressure and rate transient analysis , reservoir simulation and volumetric analysis .', 'the observed statistical nature of production performance coupled with highly certain reservoir continuity or quality within the reliable technology areas and sufficient proved developed locations establish the reasonable certainty criteria required for booking proved reserves .', 'transfers from proved undeveloped to proved developed reserves included 47 mmboe in the eagle ford , 14 mmboe in the bakken and 5 mmboe in the oklahoma resource basins due to development drilling and completions .', 'costs incurred in 2015 , 2014 and 2013 relating to the development of proved undeveloped reserves were $ 1415 million , $ 3149 million and $ 2536 million .', 'projects can remain in proved undeveloped reserves for extended periods in certain situations such as large development projects which take more than five years to complete , or the timing of when additional gas compression is needed .', 'of the 603 mmboe of proved undeveloped reserves at december 31 , 2015 , 26% ( 26 % ) of the volume is associated with projects that have been included in proved reserves for more than five years .', 'the majority of this volume is related to a compression project in e.g .', 'that was sanctioned by our board of directors in 2004 .', 'during 2012 , the compression project received the approval of the e.g .', 'government , fabrication of the new platform began in 2013 and installation of the platform at the alba field occurred in january 2016 .', 'commissioning is currently underway , with first production expected by mid-2016 .', 'proved undeveloped reserves for the north gialo development , located in the libyan sahara desert , were booked for the first time in 2010 .', 'this development is being executed by the operator and encompasses a multi-year drilling program including the design , fabrication and installation of extensive liquid handling and gas recycling facilities .', 'anecdotal evidence from similar development projects in the region leads to an expected project execution time frame of more than five years from the time the reserves were initially booked .', 'interruptions associated with the civil and political unrest have also extended the project duration .', 'operations were interrupted in mid-2013 as a result of the shutdown of the es sider crude oil terminal , and although temporarily re-opened during the second half of 2014 , production remains shut-in through early 2016 .', 'the operator is committed to the project 2019s completion and continues to assign resources in order to execute the project .', 'our conversion rate for proved undeveloped reserves to proved developed reserves for 2015 was 11% ( 11 % ) .', 'however , excluding the aforementioned long-term projects in e.g .', 'and libya , our 2015 conversion rate would be 15% ( 15 % ) .', 'furthermore , our .'] | 66.33 | MRO/2015/page_22.pdf-2 | ['during 2015 , 2014 and 2013 , netherland , sewell & associates , inc .', '( "nsai" ) prepared a certification of the prior year\'s reserves for the alba field in e.g .', 'the nsai summary reports are filed as an exhibit to this annual report on form 10-k .', 'members of the nsai team have multiple years of industry experience , having worked for large , international oil and gas companies before joining nsai .', 'the senior technical advisor has over 35 years of practical experience in petroleum geosciences , with over 15 years experience in the estimation and evaluation of reserves .', 'the second team member has over 10 years of practical experience in petroleum engineering , with over five years experience in the estimation and evaluation of reserves .', 'both are registered professional engineers in the state of texas .', 'ryder scott company ( "ryder scott" ) also performed audits of the prior years\' reserves of several of our fields in 2015 , 2014 and 2013 .', 'their summary reports are filed as exhibits to this annual report on form 10-k .', 'the team lead for ryder scott has over 20 years of industry experience , having worked for a major international oil and gas company before joining ryder scott .', 'he is a member of spe , where he served on the oil and gas reserves committee , and is a registered professional engineer in the state of texas .', 'changes in proved undeveloped reserves as of december 31 , 2015 , 603 mmboe of proved undeveloped reserves were reported , a decrease of 125 mmboe from december 31 , 2014 .', 'the following table shows changes in total proved undeveloped reserves for 2015 : ( mmboe ) .'] | ['the revisions to previous estimates were largely due to a result of reductions to our capital development program which deferred proved undeveloped reserves beyond the 5-year plan .', 'a total of 139 mmboe was booked as extensions , discoveries or other additions and revisions due to the application of reliable technology .', 'technologies included statistical analysis of production performance , decline curve analysis , pressure and rate transient analysis , reservoir simulation and volumetric analysis .', 'the observed statistical nature of production performance coupled with highly certain reservoir continuity or quality within the reliable technology areas and sufficient proved developed locations establish the reasonable certainty criteria required for booking proved reserves .', 'transfers from proved undeveloped to proved developed reserves included 47 mmboe in the eagle ford , 14 mmboe in the bakken and 5 mmboe in the oklahoma resource basins due to development drilling and completions .', 'costs incurred in 2015 , 2014 and 2013 relating to the development of proved undeveloped reserves were $ 1415 million , $ 3149 million and $ 2536 million .', 'projects can remain in proved undeveloped reserves for extended periods in certain situations such as large development projects which take more than five years to complete , or the timing of when additional gas compression is needed .', 'of the 603 mmboe of proved undeveloped reserves at december 31 , 2015 , 26% ( 26 % ) of the volume is associated with projects that have been included in proved reserves for more than five years .', 'the majority of this volume is related to a compression project in e.g .', 'that was sanctioned by our board of directors in 2004 .', 'during 2012 , the compression project received the approval of the e.g .', 'government , fabrication of the new platform began in 2013 and installation of the platform at the alba field occurred in january 2016 .', 'commissioning is currently underway , with first production expected by mid-2016 .', 'proved undeveloped reserves for the north gialo development , located in the libyan sahara desert , were booked for the first time in 2010 .', 'this development is being executed by the operator and encompasses a multi-year drilling program including the design , fabrication and installation of extensive liquid handling and gas recycling facilities .', 'anecdotal evidence from similar development projects in the region leads to an expected project execution time frame of more than five years from the time the reserves were initially booked .', 'interruptions associated with the civil and political unrest have also extended the project duration .', 'operations were interrupted in mid-2013 as a result of the shutdown of the es sider crude oil terminal , and although temporarily re-opened during the second half of 2014 , production remains shut-in through early 2016 .', 'the operator is committed to the project 2019s completion and continues to assign resources in order to execute the project .', 'our conversion rate for proved undeveloped reserves to proved developed reserves for 2015 was 11% ( 11 % ) .', 'however , excluding the aforementioned long-term projects in e.g .', 'and libya , our 2015 conversion rate would be 15% ( 15 % ) .', 'furthermore , our .'] | ****************************************
beginning of year | 728
revisions of previous estimates | -223 ( 223 )
improved recovery | 1
purchases of reserves in place | 1
extensions discoveries and other additions | 175
dispositions | 2014
transfers to proved developed | -79 ( 79 )
end of year | 603
**************************************** | multiply(603, 11%) | 66.33 |
considering the fair value of options granted in 2008 , what is going to be its estimated future value when the expected life ends? | Pre-text: ['.']
####
Data Table:
----------------------------------------
| 2008 | 2007 | 2006
weighted average fair value of options granted | $ 18.47 | $ 33.81 | $ 20.01
expected volatility | 0.3845 | 0.3677 | 0.3534
dividend yield | 3.75% ( 3.75 % ) | 0.76% ( 0.76 % ) | 1.00% ( 1.00 % )
expected life of options in years | 6.0 | 6.0 | 6.3
risk-free interest rate | 2% ( 2 % ) | 4% ( 4 % ) | 5% ( 5 % )
----------------------------------------
####
Follow-up: ['the black-scholes option valuation model was developed for use in estimating the fair value of traded options which have no vesting restrictions and are fully transferable .', 'in addition , option valuation models require the input of highly subjective assumptions , including the expected stock price volatility .', 'because the company 2019s employee stock options have characteristics significantly different from those of traded options , and because changes in the subjective input assumptions can materially affect the fair value estimate , in management 2019s opinion , the existing models do not necessarily provide a reliable single measure of the fair value of its employee stock options .', 'the fair value of the rsus was determined based on the market value at the date of grant .', 'the total fair value of awards vested during 2008 , 2007 , and 2006 was $ 35384 , $ 17840 , and $ 9413 , respectively .', 'the total stock based compensation expense calculated using the black-scholes option valuation model in 2008 , 2007 , and 2006 was $ 38872 , $ 22164 , and $ 11913 , respectively.the aggregate intrinsic values of options outstanding and exercisable at december 27 , 2008 were $ 8.2 million and $ 8.2 million , respectively .', 'the aggregate intrinsic value of options exercised during the year ended december 27 , 2008 was $ 0.6 million .', 'aggregate intrinsic value represents the positive difference between the company 2019s closing stock price on the last trading day of the fiscal period , which was $ 19.39 on december 27 , 2008 , and the exercise price multiplied by the number of options exercised .', 'as of december 27 , 2008 , there was $ 141.7 million of total unrecognized compensation cost related to unvested share-based compensation awards granted to employees under the stock compensation plans .', 'that cost is expected to be recognized over a period of five years .', 'employee stock purchase plan the shareholders also adopted an employee stock purchase plan ( espp ) .', 'up to 2000000 shares of common stock have been reserved for the espp .', 'shares will be offered to employees at a price equal to the lesser of 85% ( 85 % ) of the fair market value of the stock on the date of purchase or 85% ( 85 % ) of the fair market value on the enrollment date .', 'the espp is intended to qualify as an 201cemployee stock purchase plan 201d under section 423 of the internal revenue code .', 'during 2008 , 2007 , and 2006 , 362902 , 120230 , and 124693 shares , respectively were purchased under the plan for a total purchase price of $ 8782 , $ 5730 , and $ 3569 , respectively .', 'at december 27 , 2008 , approximately 663679 shares were available for future issuance .', '10 .', 'earnings per share the following table sets forth the computation of basic and diluted net income per share: .'] | 23.03539 | GRMN/2008/page_98.pdf-2 | ['.'] | ['the black-scholes option valuation model was developed for use in estimating the fair value of traded options which have no vesting restrictions and are fully transferable .', 'in addition , option valuation models require the input of highly subjective assumptions , including the expected stock price volatility .', 'because the company 2019s employee stock options have characteristics significantly different from those of traded options , and because changes in the subjective input assumptions can materially affect the fair value estimate , in management 2019s opinion , the existing models do not necessarily provide a reliable single measure of the fair value of its employee stock options .', 'the fair value of the rsus was determined based on the market value at the date of grant .', 'the total fair value of awards vested during 2008 , 2007 , and 2006 was $ 35384 , $ 17840 , and $ 9413 , respectively .', 'the total stock based compensation expense calculated using the black-scholes option valuation model in 2008 , 2007 , and 2006 was $ 38872 , $ 22164 , and $ 11913 , respectively.the aggregate intrinsic values of options outstanding and exercisable at december 27 , 2008 were $ 8.2 million and $ 8.2 million , respectively .', 'the aggregate intrinsic value of options exercised during the year ended december 27 , 2008 was $ 0.6 million .', 'aggregate intrinsic value represents the positive difference between the company 2019s closing stock price on the last trading day of the fiscal period , which was $ 19.39 on december 27 , 2008 , and the exercise price multiplied by the number of options exercised .', 'as of december 27 , 2008 , there was $ 141.7 million of total unrecognized compensation cost related to unvested share-based compensation awards granted to employees under the stock compensation plans .', 'that cost is expected to be recognized over a period of five years .', 'employee stock purchase plan the shareholders also adopted an employee stock purchase plan ( espp ) .', 'up to 2000000 shares of common stock have been reserved for the espp .', 'shares will be offered to employees at a price equal to the lesser of 85% ( 85 % ) of the fair market value of the stock on the date of purchase or 85% ( 85 % ) of the fair market value on the enrollment date .', 'the espp is intended to qualify as an 201cemployee stock purchase plan 201d under section 423 of the internal revenue code .', 'during 2008 , 2007 , and 2006 , 362902 , 120230 , and 124693 shares , respectively were purchased under the plan for a total purchase price of $ 8782 , $ 5730 , and $ 3569 , respectively .', 'at december 27 , 2008 , approximately 663679 shares were available for future issuance .', '10 .', 'earnings per share the following table sets forth the computation of basic and diluted net income per share: .'] | ----------------------------------------
| 2008 | 2007 | 2006
weighted average fair value of options granted | $ 18.47 | $ 33.81 | $ 20.01
expected volatility | 0.3845 | 0.3677 | 0.3534
dividend yield | 3.75% ( 3.75 % ) | 0.76% ( 0.76 % ) | 1.00% ( 1.00 % )
expected life of options in years | 6.0 | 6.0 | 6.3
risk-free interest rate | 2% ( 2 % ) | 4% ( 4 % ) | 5% ( 5 % )
---------------------------------------- | add(const_1, 3.75%), exp(#0, const_6), multiply(18.47, #1) | 23.03539 |
considering the year 2010 , what is the difference between the expected contributions and the goodwill and other intangible assets value , in millions? | Pre-text: ['holding other assumptions constant , the following table reflects what a one hundred basis point increase and decrease in our estimated long-term rate of return on plan assets would have on our estimated 2010 pension expense ( in millions ) : change in long-term rate of return on plan assets .']
Table:
****************************************
Row 1: increase ( decrease ) in expense, change in long-term rateof return on plan assets increase, change in long-term rateof return on plan assets decrease
Row 2: u.s . plans, $ -13 ( 13 ), $ 13
Row 3: u.k . plans, -32 ( 32 ), 32
Row 4: the netherlands plan, -5 ( 5 ), 5
Row 5: canada plans, -2 ( 2 ), 2
****************************************
Additional Information: ['estimated future contributions we estimate contributions of approximately $ 381 million in 2010 as compared with $ 437 million in goodwill and other intangible assets goodwill represents the excess of cost over the fair market value of the net assets acquired .', 'we classify our intangible assets acquired as either trademarks , client lists , non-compete agreements , or other purchased intangibles .', 'our goodwill and other intangible balances at december 31 , 2009 were $ 6.1 billion and $ 791 million , respectively , compared to $ 5.6 billion and $ 779 million , respectively , at december 31 , 2008 .', 'although goodwill is not amortized , we test it for impairment at least annually in the fourth quarter .', 'beginning in 2009 , we also test trademarks ( which also are not amortized ) that were acquired in conjunction with the benfield merger for impairment .', 'we test more frequently if there are indicators of impairment or whenever business circumstances suggest that the carrying value of goodwill or trademarks may not be recoverable .', 'these indicators may include a sustained significant decline in our share price and market capitalization , a decline in our expected future cash flows , or a significant adverse change in legal factors or in the business climate , among others .', 'no events occurred during 2009 or 2008 that indicate the existence of an impairment with respect to our reported goodwill or trademarks .', 'we perform impairment reviews at the reporting unit level .', 'a reporting unit is an operating segment or one level below an operating segment ( referred to as a 2018 2018component 2019 2019 ) .', 'a component of an operating segment is a reporting unit if the component constitutes a business for which discrete financial information is available and segment management regularly reviews the operating results of that component .', 'an operating segment shall be deemed to be a reporting unit if all of its components are similar , if none of its components is a reporting unit , or if the segment comprises only a single component .', 'the goodwill impairment test is a two step analysis .', 'step one requires the fair value of each reporting unit to be compared to its book value .', 'management must apply judgment in determining the estimated fair value of the reporting units .', 'if the fair value of a reporting unit is determined to be greater than the carrying value of the reporting unit , goodwill and trademarks are deemed not to be impaired and no further testing is necessary .', 'if the fair value of a reporting unit is less than the carrying value , we perform step two .', 'step two uses the calculated fair value of the reporting unit to perform a hypothetical purchase price allocation to the fair value of the assets and liabilities of the reporting unit .', 'the difference between the fair value of the reporting unit calculated in step one and the fair value of the underlying assets and liabilities of the reporting unit is the implied fair value of .'] | 56.0 | AON/2009/page_54.pdf-2 | ['holding other assumptions constant , the following table reflects what a one hundred basis point increase and decrease in our estimated long-term rate of return on plan assets would have on our estimated 2010 pension expense ( in millions ) : change in long-term rate of return on plan assets .'] | ['estimated future contributions we estimate contributions of approximately $ 381 million in 2010 as compared with $ 437 million in goodwill and other intangible assets goodwill represents the excess of cost over the fair market value of the net assets acquired .', 'we classify our intangible assets acquired as either trademarks , client lists , non-compete agreements , or other purchased intangibles .', 'our goodwill and other intangible balances at december 31 , 2009 were $ 6.1 billion and $ 791 million , respectively , compared to $ 5.6 billion and $ 779 million , respectively , at december 31 , 2008 .', 'although goodwill is not amortized , we test it for impairment at least annually in the fourth quarter .', 'beginning in 2009 , we also test trademarks ( which also are not amortized ) that were acquired in conjunction with the benfield merger for impairment .', 'we test more frequently if there are indicators of impairment or whenever business circumstances suggest that the carrying value of goodwill or trademarks may not be recoverable .', 'these indicators may include a sustained significant decline in our share price and market capitalization , a decline in our expected future cash flows , or a significant adverse change in legal factors or in the business climate , among others .', 'no events occurred during 2009 or 2008 that indicate the existence of an impairment with respect to our reported goodwill or trademarks .', 'we perform impairment reviews at the reporting unit level .', 'a reporting unit is an operating segment or one level below an operating segment ( referred to as a 2018 2018component 2019 2019 ) .', 'a component of an operating segment is a reporting unit if the component constitutes a business for which discrete financial information is available and segment management regularly reviews the operating results of that component .', 'an operating segment shall be deemed to be a reporting unit if all of its components are similar , if none of its components is a reporting unit , or if the segment comprises only a single component .', 'the goodwill impairment test is a two step analysis .', 'step one requires the fair value of each reporting unit to be compared to its book value .', 'management must apply judgment in determining the estimated fair value of the reporting units .', 'if the fair value of a reporting unit is determined to be greater than the carrying value of the reporting unit , goodwill and trademarks are deemed not to be impaired and no further testing is necessary .', 'if the fair value of a reporting unit is less than the carrying value , we perform step two .', 'step two uses the calculated fair value of the reporting unit to perform a hypothetical purchase price allocation to the fair value of the assets and liabilities of the reporting unit .', 'the difference between the fair value of the reporting unit calculated in step one and the fair value of the underlying assets and liabilities of the reporting unit is the implied fair value of .'] | ****************************************
Row 1: increase ( decrease ) in expense, change in long-term rateof return on plan assets increase, change in long-term rateof return on plan assets decrease
Row 2: u.s . plans, $ -13 ( 13 ), $ 13
Row 3: u.k . plans, -32 ( 32 ), 32
Row 4: the netherlands plan, -5 ( 5 ), 5
Row 5: canada plans, -2 ( 2 ), 2
**************************************** | subtract(437, 381) | 56.0 |
what is the net change of the total fair value balance of non-vested shares during 2013? | Context: ['grants of restricted awards are subject to forfeiture if a grantee , among other conditions , leaves our employment prior to expiration of the restricted period .', 'new grants of restricted awards generally vest one year after the date of grant in 25% ( 25 % ) increments over a four year period , with the exception of tsrs which vest after a three year period .', 'the following table summarizes the changes in non-vested restricted stock awards for the years ended may 31 , 2013 and 2012 ( share awards in thousands ) : shares weighted average grant-date fair value .']
Data Table:
----------------------------------------
| shares | weighted averagegrant-datefair value
----------|----------|----------
non-vested at may 31 2011 | 869 | $ 40
granted | 472 | 48
vested | -321 ( 321 ) | 40
forfeited | -79 ( 79 ) | 43
non-vested at may 31 2012 | 941 | 44
granted | 561 | 44
vested | -315 ( 315 ) | 43
forfeited | -91 ( 91 ) | 44
non-vested at may 31 2013 | 1096 | $ 44
----------------------------------------
Post-table: ['the total fair value of share awards vested during the years ended may 31 , 2013 , 2012 and 2011 was $ 13.6 million , $ 12.9 million and $ 10.8 million , respectively .', 'we recognized compensation expense for restricted stock of $ 16.2 million , $ 13.6 million , and $ 12.5 million in the years ended may 31 , 2013 , 2012 and 2011 , respectively .', 'as of may 31 , 2013 , there was $ 33.5 million of total unrecognized compensation cost related to unvested restricted stock awards that is expected to be recognized over a weighted average period of 2.5 years .', 'employee stock purchase plan we have an employee stock purchase plan under which the sale of 2.4 million shares of our common stock has been authorized .', 'employees may designate up to the lesser of $ 25000 or 20% ( 20 % ) of their annual compensation for the purchase of stock .', 'the price for shares purchased under the plan is 85% ( 85 % ) of the market value on the last day of the quarterly purchase period .', 'as of may 31 , 2013 , 1.0 million shares had been issued under this plan , with 1.4 million shares reserved for future issuance .', 'we recognized compensation expense for the plan of $ 0.5 million in the years ended may 31 , 2013 , 2012 and 2011 .', 'the weighted average grant-date fair value of each designated share purchased under this plan during the years ended may 31 , 2013 , 2012 and 2011 was $ 6 , $ 7 and $ 6 , respectively , which represents the fair value of the 15% ( 15 % ) discount .', 'stock options stock options are granted at 100% ( 100 % ) of fair market value on the date of grant and have 10-year terms .', 'stock options granted vest one year after the date of grant in 25% ( 25 % ) increments over a four year period .', 'the plans provide for accelerated vesting under certain conditions .', 'there were no options granted under the plans during the years ended may 31 , 2013 and may 31 , 2012. .'] | 6820.0 | GPN/2013/page_87.pdf-3 | ['grants of restricted awards are subject to forfeiture if a grantee , among other conditions , leaves our employment prior to expiration of the restricted period .', 'new grants of restricted awards generally vest one year after the date of grant in 25% ( 25 % ) increments over a four year period , with the exception of tsrs which vest after a three year period .', 'the following table summarizes the changes in non-vested restricted stock awards for the years ended may 31 , 2013 and 2012 ( share awards in thousands ) : shares weighted average grant-date fair value .'] | ['the total fair value of share awards vested during the years ended may 31 , 2013 , 2012 and 2011 was $ 13.6 million , $ 12.9 million and $ 10.8 million , respectively .', 'we recognized compensation expense for restricted stock of $ 16.2 million , $ 13.6 million , and $ 12.5 million in the years ended may 31 , 2013 , 2012 and 2011 , respectively .', 'as of may 31 , 2013 , there was $ 33.5 million of total unrecognized compensation cost related to unvested restricted stock awards that is expected to be recognized over a weighted average period of 2.5 years .', 'employee stock purchase plan we have an employee stock purchase plan under which the sale of 2.4 million shares of our common stock has been authorized .', 'employees may designate up to the lesser of $ 25000 or 20% ( 20 % ) of their annual compensation for the purchase of stock .', 'the price for shares purchased under the plan is 85% ( 85 % ) of the market value on the last day of the quarterly purchase period .', 'as of may 31 , 2013 , 1.0 million shares had been issued under this plan , with 1.4 million shares reserved for future issuance .', 'we recognized compensation expense for the plan of $ 0.5 million in the years ended may 31 , 2013 , 2012 and 2011 .', 'the weighted average grant-date fair value of each designated share purchased under this plan during the years ended may 31 , 2013 , 2012 and 2011 was $ 6 , $ 7 and $ 6 , respectively , which represents the fair value of the 15% ( 15 % ) discount .', 'stock options stock options are granted at 100% ( 100 % ) of fair market value on the date of grant and have 10-year terms .', 'stock options granted vest one year after the date of grant in 25% ( 25 % ) increments over a four year period .', 'the plans provide for accelerated vesting under certain conditions .', 'there were no options granted under the plans during the years ended may 31 , 2013 and may 31 , 2012. .'] | ----------------------------------------
| shares | weighted averagegrant-datefair value
----------|----------|----------
non-vested at may 31 2011 | 869 | $ 40
granted | 472 | 48
vested | -321 ( 321 ) | 40
forfeited | -79 ( 79 ) | 43
non-vested at may 31 2012 | 941 | 44
granted | 561 | 44
vested | -315 ( 315 ) | 43
forfeited | -91 ( 91 ) | 44
non-vested at may 31 2013 | 1096 | $ 44
---------------------------------------- | multiply(941, 44), multiply(1096, 44), subtract(#1, #0) | 6820.0 |
considering the year 2018 , what is the amount of money represented by all the class b derivatives , in millions of dollars? | Context: ['management 2019s discussion and analysis 118 jpmorgan chase & co./2018 form 10-k equivalent to the risk of loan exposures .', 'dre is a less extreme measure of potential credit loss than peak and is used as an input for aggregating derivative credit risk exposures with loans and other credit risk .', 'finally , avg is a measure of the expected fair value of the firm 2019s derivative receivables at future time periods , including the benefit of collateral .', 'avg over the total life of the derivative contract is used as the primary metric for pricing purposes and is used to calculate credit risk capital and the cva , as further described below .', 'the fair value of the firm 2019s derivative receivables incorporates cva to reflect the credit quality of counterparties .', 'cva is based on the firm 2019s avg to a counterparty and the counterparty 2019s credit spread in the credit derivatives market .', 'the firm believes that active risk management is essential to controlling the dynamic credit risk in the derivatives portfolio .', 'in addition , the firm 2019s risk management process takes into consideration the potential impact of wrong-way risk , which is broadly defined as the potential for increased correlation between the firm 2019s exposure to a counterparty ( avg ) and the counterparty 2019s credit quality .', 'many factors may influence the nature and magnitude of these correlations over time .', 'to the extent that these correlations are identified , the firm may adjust the cva associated with that counterparty 2019s avg .', 'the firm risk manages exposure to changes in cva by entering into credit derivative contracts , as well as interest rate , foreign exchange , equity and commodity derivative contracts .', 'the accompanying graph shows exposure profiles to the firm 2019s current derivatives portfolio over the next 10 years as calculated by the peak , dre and avg metrics .', 'the three measures generally show that exposure will decline after the first year , if no new trades are added to the portfolio .', 'exposure profile of derivatives measures december 31 , 2018 ( in billions ) the following table summarizes the ratings profile of the firm 2019s derivative receivables , including credit derivatives , net of all collateral , at the dates indicated .', 'the ratings scale is based on the firm 2019s internal ratings , which generally correspond to the ratings as assigned by s&p and moody 2019s .', 'ratings profile of derivative receivables .']
##
Data Table:
****************************************
rating equivalent december 31 ( in millions except ratios ), rating equivalent exposure net of all collateral, rating equivalent % ( % ) of exposure netof all collateral, exposure net of all collateral, % ( % ) of exposure netof all collateral
aaa/aaa to aa-/aa3, $ 11831, 31% ( 31 % ), $ 11529, 29% ( 29 % )
a+/a1 to a-/a3, 7428, 19, 6919, 17
bbb+/baa1 to bbb-/baa3, 12536, 32, 13925, 34
bb+/ba1 to b-/b3, 6373, 16, 7397, 18
ccc+/caa1 and below, 723, 2, 645, 2
total, $ 38891, 100% ( 100 % ), $ 40415, 100% ( 100 % )
****************************************
##
Follow-up: ['as previously noted , the firm uses collateral agreements to mitigate counterparty credit risk .', 'the percentage of the firm 2019s over-the-counter derivative transactions subject to collateral agreements 2014 excluding foreign exchange spot trades , which are not typically covered by collateral agreements due to their short maturity and centrally cleared trades that are settled daily 2014 was approximately 90% ( 90 % ) at both december 31 , 2018 , and december 31 , 2017. .'] | 21322.0 | JPM/2018/page_150.pdf-2 | ['management 2019s discussion and analysis 118 jpmorgan chase & co./2018 form 10-k equivalent to the risk of loan exposures .', 'dre is a less extreme measure of potential credit loss than peak and is used as an input for aggregating derivative credit risk exposures with loans and other credit risk .', 'finally , avg is a measure of the expected fair value of the firm 2019s derivative receivables at future time periods , including the benefit of collateral .', 'avg over the total life of the derivative contract is used as the primary metric for pricing purposes and is used to calculate credit risk capital and the cva , as further described below .', 'the fair value of the firm 2019s derivative receivables incorporates cva to reflect the credit quality of counterparties .', 'cva is based on the firm 2019s avg to a counterparty and the counterparty 2019s credit spread in the credit derivatives market .', 'the firm believes that active risk management is essential to controlling the dynamic credit risk in the derivatives portfolio .', 'in addition , the firm 2019s risk management process takes into consideration the potential impact of wrong-way risk , which is broadly defined as the potential for increased correlation between the firm 2019s exposure to a counterparty ( avg ) and the counterparty 2019s credit quality .', 'many factors may influence the nature and magnitude of these correlations over time .', 'to the extent that these correlations are identified , the firm may adjust the cva associated with that counterparty 2019s avg .', 'the firm risk manages exposure to changes in cva by entering into credit derivative contracts , as well as interest rate , foreign exchange , equity and commodity derivative contracts .', 'the accompanying graph shows exposure profiles to the firm 2019s current derivatives portfolio over the next 10 years as calculated by the peak , dre and avg metrics .', 'the three measures generally show that exposure will decline after the first year , if no new trades are added to the portfolio .', 'exposure profile of derivatives measures december 31 , 2018 ( in billions ) the following table summarizes the ratings profile of the firm 2019s derivative receivables , including credit derivatives , net of all collateral , at the dates indicated .', 'the ratings scale is based on the firm 2019s internal ratings , which generally correspond to the ratings as assigned by s&p and moody 2019s .', 'ratings profile of derivative receivables .'] | ['as previously noted , the firm uses collateral agreements to mitigate counterparty credit risk .', 'the percentage of the firm 2019s over-the-counter derivative transactions subject to collateral agreements 2014 excluding foreign exchange spot trades , which are not typically covered by collateral agreements due to their short maturity and centrally cleared trades that are settled daily 2014 was approximately 90% ( 90 % ) at both december 31 , 2018 , and december 31 , 2017. .'] | ****************************************
rating equivalent december 31 ( in millions except ratios ), rating equivalent exposure net of all collateral, rating equivalent % ( % ) of exposure netof all collateral, exposure net of all collateral, % ( % ) of exposure netof all collateral
aaa/aaa to aa-/aa3, $ 11831, 31% ( 31 % ), $ 11529, 29% ( 29 % )
a+/a1 to a-/a3, 7428, 19, 6919, 17
bbb+/baa1 to bbb-/baa3, 12536, 32, 13925, 34
bb+/ba1 to b-/b3, 6373, 16, 7397, 18
ccc+/caa1 and below, 723, 2, 645, 2
total, $ 38891, 100% ( 100 % ), $ 40415, 100% ( 100 % )
**************************************** | add(13925, 7397) | 21322.0 |
at december 2009 what was the annual anticipated unrecognized compensation cost related to unvested stock awards to be recognized in billions | Background: ['shares of citigroup common stock .', 'the number of shares to be delivered will equal the cse award value divided by the then fair market value of the common stock .', 'for cses awarded to certain employees whose compensation structure was approved by the special master , 50% ( 50 % ) of the shares to be delivered in april 2010 will be subject to restrictions on sale and transfer until january 20 , 2011 .', 'in lieu of 2010 cap awards , certain retirement-eligible employees were instead awarded cses payable in april 2010 , but any shares that are to be delivered in april 2010 ( subject to stockholder approval ) will be subject to restrictions on sale or transfer that will lapse in four equal annual installments beginning january 20 , 2011 .', 'cse awards have generally been accrued as compensation expenses in the year 2009 and will be recorded as a liability from the january 2010 grant date until the settlement date in april 2010 .', 'if stockholders approve delivery of citigroup stock for the cse awards , cse awards will likely be paid as new issues of common stock as an exception to the company 2019s practice of delivering shares from treasury stock , and the recorded liability will be reclassified as equity at that time .', 'in january 2009 , members of the management executive committee ( except the ceo and cfo ) received 30% ( 30 % ) of their incentive awards for 2008 as performance vesting-equity awards .', 'these awards vest 50% ( 50 % ) if the price of citigroup common stock meets a price target of $ 10.61 , and 50% ( 50 % ) for a price target of $ 17.85 , in each case on or prior to january 14 , 2013 .', 'the price target will be met only if the nyse closing price equals or exceeds the applicable price target for at least 20 nyse trading days within any period of 30 consecutive nyse trading days ending on or before january 14 , 2013 .', 'any shares that have not vested by such date will vest according to a fraction , the numerator of which is the share price on the delivery date and the denominator of which is the price target of the unvested shares .', 'no dividend equivalents are paid on unvested awards .', 'fair value of the awards is recognized as compensation expense ratably over the vesting period .', 'on july 17 , 2007 , the committee approved the management committee long-term incentive plan ( mc ltip ) ( pursuant to the terms of the shareholder-approved 1999 stock incentive plan ) under which participants received an equity award that could be earned based on citigroup 2019s performance against various metrics relative to peer companies and publicly- stated return on equity ( roe ) targets measured at the end of each calendar year beginning with 2007 .', 'the final expense for each of the three consecutive calendar years was adjusted based on the results of the roe tests .', 'no awards were earned for 2009 , 2008 or 2007 and no shares were issued because performance targets were not met .', 'no new awards were made under the mc ltip since the initial award in july 2007 .', 'cap participants in 2008 , 2007 , 2006 and 2005 , and fa cap participants in those years and in 2009 , could elect to receive all or part of their award in stock options .', 'the figures presented in the stock option program tables ( see 201cstock option programs 201d below ) include options granted in lieu of cap and fa cap stock awards in those years .', 'a summary of the status of citigroup 2019s unvested stock awards at december 31 , 2009 and changes during the 12 months ended december 31 , 2009 are presented below : unvested stock awards shares weighted-average grant date fair value .']
----
Tabular Data:
========================================
unvested stock awards, shares, weighted-average grant date fair value
unvested at january 1 2009, 226210859, $ 36.23
new awards, 162193923, $ 4.35
cancelled awards, -51873773 ( 51873773 ), $ 26.59
deleted awards, -568377 ( 568377 ), $ 13.91
vested awards ( 1 ), -148011884 ( 148011884 ), $ 25.96
unvested at december 31 2009, 187950748, $ 19.53
========================================
----
Additional Information: ['( 1 ) the weighted-average market value of the vestings during 2009 was approximately $ 3.64 per share .', 'at december 31 , 2009 , there was $ 1.6 billion of total unrecognized compensation cost related to unvested stock awards net of the forfeiture provision .', 'that cost is expected to be recognized over a weighted-average period of 1.3 years. .'] | 1.23077 | C/2009/page_162.pdf-1 | ['shares of citigroup common stock .', 'the number of shares to be delivered will equal the cse award value divided by the then fair market value of the common stock .', 'for cses awarded to certain employees whose compensation structure was approved by the special master , 50% ( 50 % ) of the shares to be delivered in april 2010 will be subject to restrictions on sale and transfer until january 20 , 2011 .', 'in lieu of 2010 cap awards , certain retirement-eligible employees were instead awarded cses payable in april 2010 , but any shares that are to be delivered in april 2010 ( subject to stockholder approval ) will be subject to restrictions on sale or transfer that will lapse in four equal annual installments beginning january 20 , 2011 .', 'cse awards have generally been accrued as compensation expenses in the year 2009 and will be recorded as a liability from the january 2010 grant date until the settlement date in april 2010 .', 'if stockholders approve delivery of citigroup stock for the cse awards , cse awards will likely be paid as new issues of common stock as an exception to the company 2019s practice of delivering shares from treasury stock , and the recorded liability will be reclassified as equity at that time .', 'in january 2009 , members of the management executive committee ( except the ceo and cfo ) received 30% ( 30 % ) of their incentive awards for 2008 as performance vesting-equity awards .', 'these awards vest 50% ( 50 % ) if the price of citigroup common stock meets a price target of $ 10.61 , and 50% ( 50 % ) for a price target of $ 17.85 , in each case on or prior to january 14 , 2013 .', 'the price target will be met only if the nyse closing price equals or exceeds the applicable price target for at least 20 nyse trading days within any period of 30 consecutive nyse trading days ending on or before january 14 , 2013 .', 'any shares that have not vested by such date will vest according to a fraction , the numerator of which is the share price on the delivery date and the denominator of which is the price target of the unvested shares .', 'no dividend equivalents are paid on unvested awards .', 'fair value of the awards is recognized as compensation expense ratably over the vesting period .', 'on july 17 , 2007 , the committee approved the management committee long-term incentive plan ( mc ltip ) ( pursuant to the terms of the shareholder-approved 1999 stock incentive plan ) under which participants received an equity award that could be earned based on citigroup 2019s performance against various metrics relative to peer companies and publicly- stated return on equity ( roe ) targets measured at the end of each calendar year beginning with 2007 .', 'the final expense for each of the three consecutive calendar years was adjusted based on the results of the roe tests .', 'no awards were earned for 2009 , 2008 or 2007 and no shares were issued because performance targets were not met .', 'no new awards were made under the mc ltip since the initial award in july 2007 .', 'cap participants in 2008 , 2007 , 2006 and 2005 , and fa cap participants in those years and in 2009 , could elect to receive all or part of their award in stock options .', 'the figures presented in the stock option program tables ( see 201cstock option programs 201d below ) include options granted in lieu of cap and fa cap stock awards in those years .', 'a summary of the status of citigroup 2019s unvested stock awards at december 31 , 2009 and changes during the 12 months ended december 31 , 2009 are presented below : unvested stock awards shares weighted-average grant date fair value .'] | ['( 1 ) the weighted-average market value of the vestings during 2009 was approximately $ 3.64 per share .', 'at december 31 , 2009 , there was $ 1.6 billion of total unrecognized compensation cost related to unvested stock awards net of the forfeiture provision .', 'that cost is expected to be recognized over a weighted-average period of 1.3 years. .'] | ========================================
unvested stock awards, shares, weighted-average grant date fair value
unvested at january 1 2009, 226210859, $ 36.23
new awards, 162193923, $ 4.35
cancelled awards, -51873773 ( 51873773 ), $ 26.59
deleted awards, -568377 ( 568377 ), $ 13.91
vested awards ( 1 ), -148011884 ( 148011884 ), $ 25.96
unvested at december 31 2009, 187950748, $ 19.53
======================================== | divide(1.6, 1.3) | 1.23077 |
what was the change in net sales in millions in 2007 in billions | Context: ['tissue pulp due to strong market demand , partic- ularly from asia .', 'average sales price realizations improved significantly in 2007 , principally reflecting higher average prices for softwood , hardwood and fluff pulp .', 'operating earnings in 2007 were $ 104 mil- lion compared with $ 48 million in 2006 and $ 37 mil- lion in 2005 .', 'the benefits from higher sales price realizations were partially offset by increased input costs for energy , chemicals and freight .', 'entering the first quarter of 2008 , demand for market pulp remains strong , and average sales price realiza- tions should increase slightly .', 'however , input costs for energy , chemicals and freight are expected to be higher , and increased spending is anticipated for planned mill maintenance outages .', 'industrial packaging demand for industrial packaging products is closely correlated with non-durable industrial goods pro- duction , as well as with demand for processed foods , poultry , meat and agricultural products .', 'in addition to prices and volumes , major factors affecting the profitability of industrial packaging are raw material and energy costs , freight costs , manufacturing effi- ciency and product mix .', 'industrial packaging net sales for 2007 increased 6% ( 6 % ) to $ 5.2 billion compared with $ 4.9 bil- lion in 2006 , and 13% ( 13 % ) compared with $ 4.6 billion in 2005 .', 'operating profits in 2007 were 26% ( 26 % ) higher than in 2006 and more than double 2005 earnings .', 'bene- fits from improved price realizations ( $ 147 million ) , sales volume increases net of increased lack of order downtime ( $ 3 million ) , a more favorable mix ( $ 31 million ) , strong mill and converting operations ( $ 33 million ) and other costs ( $ 47 million ) were partially offset by the effects of higher raw material costs ( $ 76 million ) and higher freight costs ( $ 18 million ) .', 'in addition , a gain of $ 13 million was recognized in 2006 related to a sale of property in spain and costs of $ 52 million were incurred in 2007 related to the conversion of the paper machine at pensacola to production of lightweight linerboard .', 'the segment took 165000 tons of downtime in 2007 which included 16000 tons of market-related downtime compared with 135000 tons of downtime in 2006 of which none was market-related .', 'industrial packaging in millions 2007 2006 2005 .']
Tabular Data:
****************************************
in millions 2007 2006 2005
sales $ 5245 $ 4925 $ 4625
operating profit $ 501 $ 399 $ 219
****************************************
Post-table: ['north american industrial packaging net sales for 2007 were $ 3.9 billion , compared with $ 3.7 billion in 2006 and $ 3.6 billion in 2005 .', 'operating profits in 2007 were $ 407 million , up from $ 327 mil- lion in 2006 and $ 170 million in 2005 .', 'containerboard shipments were higher in 2007 compared with 2006 , including production from the paper machine at pensacola that was converted to lightweight linerboard during 2007 .', 'average sales price realizations were significantly higher than in 2006 reflecting price increases announced early in 2006 and in the third quarter of 2007 .', 'margins improved reflecting stronger export demand .', 'manu- facturing performance was strong , although costs associated with planned mill maintenance outages were higher due to timing of outages .', 'raw material costs for wood , energy , chemicals and recycled fiber increased significantly .', 'operating results for 2007 were also unfavorably impacted by $ 52 million of costs associated with the conversion and startup of the pensacola paper machine .', 'u.s .', 'converting sales volumes were slightly lower in 2007 compared with 2006 reflecting softer customer box demand .', 'earnings improvement in 2007 bene- fited from the realization of box price increases announced in early 2006 and late 2007 .', 'favorable manufacturing operations and higher sales prices for waste fiber more than offset significantly higher raw material and freight costs .', 'looking ahead to the first quarter of 2008 , sales volumes are expected to increase slightly , and results should benefit from a full-quarter impact of the price increases announced in the third quarter of 2007 .', 'however , additional mill maintenance outages are planned for the first quarter , and freight and input costs are expected to rise , particularly for wood and energy .', 'manufacturing operations should be favorable compared with the fourth quarter .', 'european industrial packaging net sales for 2007 were $ 1.1 billion , up from $ 1.0 billion in 2006 and $ 880 million in 2005 .', 'sales volumes were about flat as early stronger demand in the industrial segment weakened in the second half of the year .', 'operating profits in 2007 were $ 88 million compared with $ 69 million in 2006 and $ 53 million in 2005 .', 'sales margins improved reflecting increased sales prices for boxes .', 'conversion costs were favorable as the result of manufacturing improvement programs .', 'entering the first quarter of 2008 , sales volumes should be strong seasonally across all regions as the winter fruit and vegetable season continues .', 'profit margins , however , are expected to be somewhat lower. .'] | 0.3 | IP/2007/page_31.pdf-3 | ['tissue pulp due to strong market demand , partic- ularly from asia .', 'average sales price realizations improved significantly in 2007 , principally reflecting higher average prices for softwood , hardwood and fluff pulp .', 'operating earnings in 2007 were $ 104 mil- lion compared with $ 48 million in 2006 and $ 37 mil- lion in 2005 .', 'the benefits from higher sales price realizations were partially offset by increased input costs for energy , chemicals and freight .', 'entering the first quarter of 2008 , demand for market pulp remains strong , and average sales price realiza- tions should increase slightly .', 'however , input costs for energy , chemicals and freight are expected to be higher , and increased spending is anticipated for planned mill maintenance outages .', 'industrial packaging demand for industrial packaging products is closely correlated with non-durable industrial goods pro- duction , as well as with demand for processed foods , poultry , meat and agricultural products .', 'in addition to prices and volumes , major factors affecting the profitability of industrial packaging are raw material and energy costs , freight costs , manufacturing effi- ciency and product mix .', 'industrial packaging net sales for 2007 increased 6% ( 6 % ) to $ 5.2 billion compared with $ 4.9 bil- lion in 2006 , and 13% ( 13 % ) compared with $ 4.6 billion in 2005 .', 'operating profits in 2007 were 26% ( 26 % ) higher than in 2006 and more than double 2005 earnings .', 'bene- fits from improved price realizations ( $ 147 million ) , sales volume increases net of increased lack of order downtime ( $ 3 million ) , a more favorable mix ( $ 31 million ) , strong mill and converting operations ( $ 33 million ) and other costs ( $ 47 million ) were partially offset by the effects of higher raw material costs ( $ 76 million ) and higher freight costs ( $ 18 million ) .', 'in addition , a gain of $ 13 million was recognized in 2006 related to a sale of property in spain and costs of $ 52 million were incurred in 2007 related to the conversion of the paper machine at pensacola to production of lightweight linerboard .', 'the segment took 165000 tons of downtime in 2007 which included 16000 tons of market-related downtime compared with 135000 tons of downtime in 2006 of which none was market-related .', 'industrial packaging in millions 2007 2006 2005 .'] | ['north american industrial packaging net sales for 2007 were $ 3.9 billion , compared with $ 3.7 billion in 2006 and $ 3.6 billion in 2005 .', 'operating profits in 2007 were $ 407 million , up from $ 327 mil- lion in 2006 and $ 170 million in 2005 .', 'containerboard shipments were higher in 2007 compared with 2006 , including production from the paper machine at pensacola that was converted to lightweight linerboard during 2007 .', 'average sales price realizations were significantly higher than in 2006 reflecting price increases announced early in 2006 and in the third quarter of 2007 .', 'margins improved reflecting stronger export demand .', 'manu- facturing performance was strong , although costs associated with planned mill maintenance outages were higher due to timing of outages .', 'raw material costs for wood , energy , chemicals and recycled fiber increased significantly .', 'operating results for 2007 were also unfavorably impacted by $ 52 million of costs associated with the conversion and startup of the pensacola paper machine .', 'u.s .', 'converting sales volumes were slightly lower in 2007 compared with 2006 reflecting softer customer box demand .', 'earnings improvement in 2007 bene- fited from the realization of box price increases announced in early 2006 and late 2007 .', 'favorable manufacturing operations and higher sales prices for waste fiber more than offset significantly higher raw material and freight costs .', 'looking ahead to the first quarter of 2008 , sales volumes are expected to increase slightly , and results should benefit from a full-quarter impact of the price increases announced in the third quarter of 2007 .', 'however , additional mill maintenance outages are planned for the first quarter , and freight and input costs are expected to rise , particularly for wood and energy .', 'manufacturing operations should be favorable compared with the fourth quarter .', 'european industrial packaging net sales for 2007 were $ 1.1 billion , up from $ 1.0 billion in 2006 and $ 880 million in 2005 .', 'sales volumes were about flat as early stronger demand in the industrial segment weakened in the second half of the year .', 'operating profits in 2007 were $ 88 million compared with $ 69 million in 2006 and $ 53 million in 2005 .', 'sales margins improved reflecting increased sales prices for boxes .', 'conversion costs were favorable as the result of manufacturing improvement programs .', 'entering the first quarter of 2008 , sales volumes should be strong seasonally across all regions as the winter fruit and vegetable season continues .', 'profit margins , however , are expected to be somewhat lower. .'] | ****************************************
in millions 2007 2006 2005
sales $ 5245 $ 4925 $ 4625
operating profit $ 501 $ 399 $ 219
**************************************** | subtract(5.2, 4.9) | 0.3 |
what percent of operating lease obligations are due in less than one year? | Background: ['contractual obligations by less than more than period as of june 30 , 2011 1 year 1-3 years 3-5 years 5 years total .']
####
Table:
****************************************
contractual obligations byperiod as of june 30 2011 | less than1 year | 1-3 years | 3-5 years | more than5 years | total
operating lease obligations | $ 7185 | $ 10511 | $ 7004 | $ 1487 | $ 26187
capital lease obligations | 3016 | - | - | - | 3016
notes payable includingaccrued interest | 23087 | 45431 | 82508 | - | 151026
purchase obligations | 10700 | - | - | - | 10700
total | $ 43988 | $ 55942 | $ 89512 | $ 1487 | $ 190929
****************************************
####
Additional Information: ['recent accounting pronouncements in october 2009 , the fasb issued accounting standards update ( 201casu 201d ) no .', '2009-13 , multiple-deliverable revenue arrangements , which is effective for arrangements beginning or changed during fiscal years starting after june 15 , 2010 .', 'this new standard eliminates the use of the residual method of revenue recognition and requires the allocation of consideration to each deliverable using the relative selling price method .', 'this new guidance did not have a material impact on revenue recognition because nearly all of the company 2019s revenue arrangements are subject to accounting standards codification ( 201casc 201d ) topic 985 .', 'such arrangements are considered out of scope for this asu .', 'in october 2009 , the fasb also issued asu no .', '2009-14 , software : certain revenue arrangements that include software elements , which is also effective for arrangements beginning or changed during fiscal years starting after june 15 , 2010 .', 'this revision to software ( topic 985 ) drops from its scope all tangible products containing both software and non-software components that operate together to deliver the product 2019s functions .', 'the majority of the company 2019s software arrangements are not tangible products with software components ; therefore , this update did not materially impact the company .', 'the fasb issued asu no .', '2011-04 , fair value measurement in may 2011 , which is effective for the company beginning july 1 , 2012 and is to be applied prospectively .', 'the updated explanatory guidance on measuring fair value will be adopted by the company at that time and is not expected to have a significant impact on our fair value calculations .', 'no additional fair value measurements are required as a result of the update .', 'the fasb also issued asu no .', '2011-05 , comprehensive income in june 2011 , which is effective for the company beginning january 1 , 2012 and will be applied retrospectively .', 'the updated guidance requires non-owner changes in stockholders 2019 equity to be reported either in a single continuous statement of comprehensive income or in two separate but consecutive statements , rather than as part of the statement of changes in stockholders 2019 equity .', 'no changes in disclosure will be required as a result of the update .', 'critical accounting policies we prepare our consolidated financial statements in accordance with accounting principles generally accepted in the united states ( 201cu.s .', 'gaap 201d ) .', 'the significant accounting policies are discussed in note 1 to the consolidated financial statements .', 'the preparation of consolidated financial statements in accordance with u.s .', 'gaap requires us to make estimates and judgments that affect the reported amounts of assets , liabilities , revenue and expenses , as well as disclosure of contingent assets and liabilities .', 'we base our estimates and judgments upon historical experience and other factors believed to be reasonable under the circumstances .', 'changes in estimates or assumptions could result in a material adjustment to the consolidated financial statements .', 'we have identified several critical accounting estimates .', 'an accounting estimate is considered critical if both : ( a ) the nature of the estimates or assumptions is material due to the levels of subjectivity and judgment involved , and ( b ) the impact of changes in the estimates and assumptions would have a material effect on the consolidated financial statements. .'] | 0.27437 | JKHY/2011/page_34.pdf-1 | ['contractual obligations by less than more than period as of june 30 , 2011 1 year 1-3 years 3-5 years 5 years total .'] | ['recent accounting pronouncements in october 2009 , the fasb issued accounting standards update ( 201casu 201d ) no .', '2009-13 , multiple-deliverable revenue arrangements , which is effective for arrangements beginning or changed during fiscal years starting after june 15 , 2010 .', 'this new standard eliminates the use of the residual method of revenue recognition and requires the allocation of consideration to each deliverable using the relative selling price method .', 'this new guidance did not have a material impact on revenue recognition because nearly all of the company 2019s revenue arrangements are subject to accounting standards codification ( 201casc 201d ) topic 985 .', 'such arrangements are considered out of scope for this asu .', 'in october 2009 , the fasb also issued asu no .', '2009-14 , software : certain revenue arrangements that include software elements , which is also effective for arrangements beginning or changed during fiscal years starting after june 15 , 2010 .', 'this revision to software ( topic 985 ) drops from its scope all tangible products containing both software and non-software components that operate together to deliver the product 2019s functions .', 'the majority of the company 2019s software arrangements are not tangible products with software components ; therefore , this update did not materially impact the company .', 'the fasb issued asu no .', '2011-04 , fair value measurement in may 2011 , which is effective for the company beginning july 1 , 2012 and is to be applied prospectively .', 'the updated explanatory guidance on measuring fair value will be adopted by the company at that time and is not expected to have a significant impact on our fair value calculations .', 'no additional fair value measurements are required as a result of the update .', 'the fasb also issued asu no .', '2011-05 , comprehensive income in june 2011 , which is effective for the company beginning january 1 , 2012 and will be applied retrospectively .', 'the updated guidance requires non-owner changes in stockholders 2019 equity to be reported either in a single continuous statement of comprehensive income or in two separate but consecutive statements , rather than as part of the statement of changes in stockholders 2019 equity .', 'no changes in disclosure will be required as a result of the update .', 'critical accounting policies we prepare our consolidated financial statements in accordance with accounting principles generally accepted in the united states ( 201cu.s .', 'gaap 201d ) .', 'the significant accounting policies are discussed in note 1 to the consolidated financial statements .', 'the preparation of consolidated financial statements in accordance with u.s .', 'gaap requires us to make estimates and judgments that affect the reported amounts of assets , liabilities , revenue and expenses , as well as disclosure of contingent assets and liabilities .', 'we base our estimates and judgments upon historical experience and other factors believed to be reasonable under the circumstances .', 'changes in estimates or assumptions could result in a material adjustment to the consolidated financial statements .', 'we have identified several critical accounting estimates .', 'an accounting estimate is considered critical if both : ( a ) the nature of the estimates or assumptions is material due to the levels of subjectivity and judgment involved , and ( b ) the impact of changes in the estimates and assumptions would have a material effect on the consolidated financial statements. .'] | ****************************************
contractual obligations byperiod as of june 30 2011 | less than1 year | 1-3 years | 3-5 years | more than5 years | total
operating lease obligations | $ 7185 | $ 10511 | $ 7004 | $ 1487 | $ 26187
capital lease obligations | 3016 | - | - | - | 3016
notes payable includingaccrued interest | 23087 | 45431 | 82508 | - | 151026
purchase obligations | 10700 | - | - | - | 10700
total | $ 43988 | $ 55942 | $ 89512 | $ 1487 | $ 190929
**************************************** | divide(7185, 26187) | 0.27437 |
by what percentage did the cash conversion cycle decrease from dec 31 , 2015 to dec 31 , 2016? | Background: ['table of contents ( 4 ) the increase in cash flows was primarily due to the timing of inventory purchases and longer payment terms with certain vendors .', 'in order to manage our working capital and operating cash needs , we monitor our cash conversion cycle , defined as days of sales outstanding in accounts receivable plus days of supply in inventory minus days of purchases outstanding in accounts payable , based on a rolling three-month average .', 'components of our cash conversion cycle are as follows: .']
##########
Data Table:
****************************************
( in days ) | december 31 , 2017 | december 31 , 2016 | december 31 , 2015
----------|----------|----------|----------
days of sales outstanding ( dso ) ( 1 ) | 52 | 51 | 48
days of supply in inventory ( dio ) ( 2 ) | 12 | 12 | 13
days of purchases outstanding ( dpo ) ( 3 ) | -45 ( 45 ) | -44 ( 44 ) | -40 ( 40 )
cash conversion cycle | 19 | 19 | 21
****************************************
##########
Follow-up: ['( 1 ) represents the rolling three-month average of the balance of accounts receivable , net at the end of the period , divided by average daily net sales for the same three-month period .', 'also incorporates components of other miscellaneous receivables .', '( 2 ) represents the rolling three-month average of the balance of merchandise inventory at the end of the period divided by average daily cost of sales for the same three-month period .', '( 3 ) represents the rolling three-month average of the combined balance of accounts payable-trade , excluding cash overdrafts , and accounts payable-inventory financing at the end of the period divided by average daily cost of sales for the same three-month period .', 'the cash conversion cycle was 19 days at december 31 , 2017 and 2016 .', 'the increase in dso was primarily driven by higher net sales and related accounts receivable for third-party services such as saas , software assurance and warranties .', 'these services have an unfavorable impact on dso as the receivable is recognized on the consolidated balance sheet on a gross basis while the corresponding sales amount in the consolidated statement of operations is recorded on a net basis .', 'this also results in a favorable impact on dpo as the payable is recognized on the consolidated balance sheet without a corresponding cost of sales in the statement of operations because the cost paid to the vendor or third-party service provider is recorded as a reduction to net sales .', 'in addition , dpo also increased due to the mix of payables with certain vendors that have longer payment terms .', 'the cash conversion cycle was 19 and 21 days at december 31 , 2016 and 2015 , respectively .', 'the increase in dso was primarily driven by higher net sales and related accounts receivable for third-party services such as saas , software assurance and warranties .', 'these services have an unfavorable impact on dso as the receivable is recognized on the balance sheet on a gross basis while the corresponding sales amount in the statement of operations is recorded on a net basis .', 'these services have a favorable impact on dpo as the payable is recognized on the balance sheet without a corresponding cost of sale in the statement of operations because the cost paid to the vendor or third-party service provider is recorded as a reduction to net sales .', 'in addition to the impact of these services on dpo , dpo also increased due to the mix of payables with certain vendors that have longer payment terms .', 'investing activities net cash used in investing activities increased $ 15 million in 2017 compared to 2016 .', 'capital expenditures increased $ 17 million to $ 81 million from $ 64 million for 2017 and 2016 , respectively , primarily related to improvements to our information technology systems .', 'net cash used in investing activities decreased $ 289 million in 2016 compared to 2015 .', 'the decrease in cash used was primarily due to the completion of the acquisition of cdw uk in 2015 .', 'additionally , capital expenditures decreased $ 26 million to $ 64 million from $ 90 million for 2016 and 2015 , respectively , primarily due to spending for our new office location in 2015 .', 'financing activities net cash used in financing activities increased $ 514 million in 2017 compared to 2016 .', 'the increase was primarily driven by changes in accounts payable-inventory financing , which resulted in an increase in cash used for financing activities of $ 228 million and by share repurchases during 2017 , which resulted in an increase in cash used for financing activities of $ 167 million .', 'for more information on our share repurchase program , see part ii , item 5 , 201cmarket for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities . 201d the increase in cash used for accounts payable-inventory financing was primarily driven by the termination of one of our inventory financing agreements in the fourth quarter of 2016 , with amounts .'] | 9.52381 | CDW/2017/page_56.pdf-3 | ['table of contents ( 4 ) the increase in cash flows was primarily due to the timing of inventory purchases and longer payment terms with certain vendors .', 'in order to manage our working capital and operating cash needs , we monitor our cash conversion cycle , defined as days of sales outstanding in accounts receivable plus days of supply in inventory minus days of purchases outstanding in accounts payable , based on a rolling three-month average .', 'components of our cash conversion cycle are as follows: .'] | ['( 1 ) represents the rolling three-month average of the balance of accounts receivable , net at the end of the period , divided by average daily net sales for the same three-month period .', 'also incorporates components of other miscellaneous receivables .', '( 2 ) represents the rolling three-month average of the balance of merchandise inventory at the end of the period divided by average daily cost of sales for the same three-month period .', '( 3 ) represents the rolling three-month average of the combined balance of accounts payable-trade , excluding cash overdrafts , and accounts payable-inventory financing at the end of the period divided by average daily cost of sales for the same three-month period .', 'the cash conversion cycle was 19 days at december 31 , 2017 and 2016 .', 'the increase in dso was primarily driven by higher net sales and related accounts receivable for third-party services such as saas , software assurance and warranties .', 'these services have an unfavorable impact on dso as the receivable is recognized on the consolidated balance sheet on a gross basis while the corresponding sales amount in the consolidated statement of operations is recorded on a net basis .', 'this also results in a favorable impact on dpo as the payable is recognized on the consolidated balance sheet without a corresponding cost of sales in the statement of operations because the cost paid to the vendor or third-party service provider is recorded as a reduction to net sales .', 'in addition , dpo also increased due to the mix of payables with certain vendors that have longer payment terms .', 'the cash conversion cycle was 19 and 21 days at december 31 , 2016 and 2015 , respectively .', 'the increase in dso was primarily driven by higher net sales and related accounts receivable for third-party services such as saas , software assurance and warranties .', 'these services have an unfavorable impact on dso as the receivable is recognized on the balance sheet on a gross basis while the corresponding sales amount in the statement of operations is recorded on a net basis .', 'these services have a favorable impact on dpo as the payable is recognized on the balance sheet without a corresponding cost of sale in the statement of operations because the cost paid to the vendor or third-party service provider is recorded as a reduction to net sales .', 'in addition to the impact of these services on dpo , dpo also increased due to the mix of payables with certain vendors that have longer payment terms .', 'investing activities net cash used in investing activities increased $ 15 million in 2017 compared to 2016 .', 'capital expenditures increased $ 17 million to $ 81 million from $ 64 million for 2017 and 2016 , respectively , primarily related to improvements to our information technology systems .', 'net cash used in investing activities decreased $ 289 million in 2016 compared to 2015 .', 'the decrease in cash used was primarily due to the completion of the acquisition of cdw uk in 2015 .', 'additionally , capital expenditures decreased $ 26 million to $ 64 million from $ 90 million for 2016 and 2015 , respectively , primarily due to spending for our new office location in 2015 .', 'financing activities net cash used in financing activities increased $ 514 million in 2017 compared to 2016 .', 'the increase was primarily driven by changes in accounts payable-inventory financing , which resulted in an increase in cash used for financing activities of $ 228 million and by share repurchases during 2017 , which resulted in an increase in cash used for financing activities of $ 167 million .', 'for more information on our share repurchase program , see part ii , item 5 , 201cmarket for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities . 201d the increase in cash used for accounts payable-inventory financing was primarily driven by the termination of one of our inventory financing agreements in the fourth quarter of 2016 , with amounts .'] | ****************************************
( in days ) | december 31 , 2017 | december 31 , 2016 | december 31 , 2015
----------|----------|----------|----------
days of sales outstanding ( dso ) ( 1 ) | 52 | 51 | 48
days of supply in inventory ( dio ) ( 2 ) | 12 | 12 | 13
days of purchases outstanding ( dpo ) ( 3 ) | -45 ( 45 ) | -44 ( 44 ) | -40 ( 40 )
cash conversion cycle | 19 | 19 | 21
**************************************** | subtract(21, 19), divide(#0, 21), multiply(#1, const_100) | 9.52381 |
what was the percentage change in rental expense between 2003 and 2004? | Pre-text: ['hologic , inc .', 'notes to consolidated financial statements 2014 ( continued ) ( in thousands , except per share data ) future minimum lease payments under all the company 2019s operating leases are approximately as follows: .']
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Tabular Data:
Row 1: fiscal years ending, amount
Row 2: september 24 2005, $ 4848
Row 3: september 30 2006, 4672
Row 4: september 29 2007, 3680
Row 5: september 27 2008, 3237
Row 6: september 26 2009, 3158
Row 7: thereafter, 40764
Row 8: total ( not reduced by minimum sublease rentals of $ 165 ), $ 60359
----
Follow-up: ['the company subleases a portion of its bedford facility and has received rental income of $ 277 , $ 410 and $ 682 for fiscal years 2004 , 2003 and 2002 , respectively , which has been recorded as an offset to rent expense in the accompanying statements of income .', 'rental expense , net of sublease income , was approximately $ 4660 , $ 4963 , and $ 2462 for fiscal 2004 , 2003 and 2002 , respectively .', '9 .', 'business segments and geographic information the company reports segment information in accordance with sfas no .', '131 , disclosures about segments of an enterprise and related information .', 'operating segments are identified as components of an enterprise about which separate , discrete financial information is available for evaluation by the chief operating decision maker , or decision-making group , in making decisions how to allocate resources and assess performance .', 'the company 2019s chief decision-maker , as defined under sfas no .', '131 , is the chief executive officer .', 'to date , the company has viewed its operations and manages its business as four principal operating segments : the manufacture and sale of mammography products , osteoporosis assessment products , digital detectors and other products .', 'as a result of the company 2019s implementation of a company wide integrated software application in fiscal 2003 , identifiable assets for the four principal operating segments only consist of inventories , intangible assets , and property and equipment .', 'the company has presented all other assets as corporate assets .', 'prior periods have been restated to conform to this presentation .', 'intersegment sales and transfers are not significant. .'] | -0.06105 | HOLX/2004/page_87.pdf-2 | ['hologic , inc .', 'notes to consolidated financial statements 2014 ( continued ) ( in thousands , except per share data ) future minimum lease payments under all the company 2019s operating leases are approximately as follows: .'] | ['the company subleases a portion of its bedford facility and has received rental income of $ 277 , $ 410 and $ 682 for fiscal years 2004 , 2003 and 2002 , respectively , which has been recorded as an offset to rent expense in the accompanying statements of income .', 'rental expense , net of sublease income , was approximately $ 4660 , $ 4963 , and $ 2462 for fiscal 2004 , 2003 and 2002 , respectively .', '9 .', 'business segments and geographic information the company reports segment information in accordance with sfas no .', '131 , disclosures about segments of an enterprise and related information .', 'operating segments are identified as components of an enterprise about which separate , discrete financial information is available for evaluation by the chief operating decision maker , or decision-making group , in making decisions how to allocate resources and assess performance .', 'the company 2019s chief decision-maker , as defined under sfas no .', '131 , is the chief executive officer .', 'to date , the company has viewed its operations and manages its business as four principal operating segments : the manufacture and sale of mammography products , osteoporosis assessment products , digital detectors and other products .', 'as a result of the company 2019s implementation of a company wide integrated software application in fiscal 2003 , identifiable assets for the four principal operating segments only consist of inventories , intangible assets , and property and equipment .', 'the company has presented all other assets as corporate assets .', 'prior periods have been restated to conform to this presentation .', 'intersegment sales and transfers are not significant. .'] | Row 1: fiscal years ending, amount
Row 2: september 24 2005, $ 4848
Row 3: september 30 2006, 4672
Row 4: september 29 2007, 3680
Row 5: september 27 2008, 3237
Row 6: september 26 2009, 3158
Row 7: thereafter, 40764
Row 8: total ( not reduced by minimum sublease rentals of $ 165 ), $ 60359 | subtract(4660, 4963), divide(#0, 4963) | -0.06105 |
what was the percentage sales change from 2005 to 2006? | Pre-text: ['capital asset purchases associated with the retail segment were $ 294 million in 2007 , bringing the total capital asset purchases since inception of the retail segment to $ 1.0 billion .', 'as of september 29 , 2007 , the retail segment had approximately 7900 employees and had outstanding operating lease commitments associated with retail store space and related facilities of $ 1.1 billion .', 'the company would incur substantial costs if it were to close multiple retail stores .', 'such costs could adversely affect the company 2019s financial condition and operating results .', 'other segments the company 2019s other segments , which consists of its asia pacific and filemaker operations , experienced an increase in net sales of $ 406 million , or 30% ( 30 % ) during 2007 compared to 2006 .', 'this increase related primarily to a 58% ( 58 % ) increase in sales of mac portable products and strong ipod sales in the company 2019s asia pacific region .', 'during 2006 , net sales in other segments increased 35% ( 35 % ) compared to 2005 primarily due to an increase in sales of ipod and mac portable products .', 'strong sales growth was a result of the introduction of the updated ipods featuring video-playing capabilities and the new intel-based mac portable products that translated to a 16% ( 16 % ) increase in mac unit sales during 2006 compared to 2005 .', 'gross margin gross margin for each of the last three fiscal years are as follows ( in millions , except gross margin percentages ) : september 29 , september 30 , september 24 , 2007 2006 2005 .']
----------
Table:
| september 29 2007 | september 30 2006 | september 24 2005
net sales | $ 24006 | $ 19315 | $ 13931
cost of sales | 15852 | 13717 | 9889
gross margin | $ 8154 | $ 5598 | $ 4042
gross margin percentage | 34.0% ( 34.0 % ) | 29.0% ( 29.0 % ) | 29.0% ( 29.0 % )
----------
Additional Information: ['gross margin percentage of 34.0% ( 34.0 % ) in 2007 increased significantly from 29.0% ( 29.0 % ) in 2006 .', 'the primary drivers of this increase were more favorable costs on certain commodity components , including nand flash memory and dram memory , higher overall revenue that provided for more leverage on fixed production costs and a higher percentage of revenue from the company 2019s direct sales channels .', 'the company anticipates that its gross margin and the gross margins of the personal computer , consumer electronics and mobile communication industries will be subject to pressure due to price competition .', 'the company expects gross margin percentage to decline sequentially in the first quarter of 2008 primarily as a result of the full-quarter impact of product transitions and reduced pricing that were effected in the fourth quarter of 2007 , lower sales of ilife and iwork in their second quarter of availability , seasonally higher component costs , and a higher mix of indirect sales .', 'these factors are expected to be partially offset by higher sales of the company 2019s mac os x operating system due to the introduction of mac os x version 10.5 leopard ( 2018 2018mac os x leopard 2019 2019 ) that became available in october 2007 .', 'the foregoing statements regarding the company 2019s expected gross margin percentage are forward-looking .', 'there can be no assurance that current gross margin percentage will be maintained or targeted gross margin percentage levels will be achieved .', 'in general , gross margins and margins on individual products will remain under downward pressure due to a variety of factors , including continued industry wide global pricing pressures , increased competition , compressed product life cycles , potential increases in the cost and availability of raw material and outside manufacturing services , and a potential shift in the company 2019s sales mix towards products with lower gross margins .', 'in response to these competitive pressures , the company expects it will continue to take pricing actions with respect to its products .', 'gross margins could also be affected by the company 2019s ability to effectively manage product quality and warranty costs and to stimulate .'] | 0.38648 | AAPL/2007/page_48.pdf-4 | ['capital asset purchases associated with the retail segment were $ 294 million in 2007 , bringing the total capital asset purchases since inception of the retail segment to $ 1.0 billion .', 'as of september 29 , 2007 , the retail segment had approximately 7900 employees and had outstanding operating lease commitments associated with retail store space and related facilities of $ 1.1 billion .', 'the company would incur substantial costs if it were to close multiple retail stores .', 'such costs could adversely affect the company 2019s financial condition and operating results .', 'other segments the company 2019s other segments , which consists of its asia pacific and filemaker operations , experienced an increase in net sales of $ 406 million , or 30% ( 30 % ) during 2007 compared to 2006 .', 'this increase related primarily to a 58% ( 58 % ) increase in sales of mac portable products and strong ipod sales in the company 2019s asia pacific region .', 'during 2006 , net sales in other segments increased 35% ( 35 % ) compared to 2005 primarily due to an increase in sales of ipod and mac portable products .', 'strong sales growth was a result of the introduction of the updated ipods featuring video-playing capabilities and the new intel-based mac portable products that translated to a 16% ( 16 % ) increase in mac unit sales during 2006 compared to 2005 .', 'gross margin gross margin for each of the last three fiscal years are as follows ( in millions , except gross margin percentages ) : september 29 , september 30 , september 24 , 2007 2006 2005 .'] | ['gross margin percentage of 34.0% ( 34.0 % ) in 2007 increased significantly from 29.0% ( 29.0 % ) in 2006 .', 'the primary drivers of this increase were more favorable costs on certain commodity components , including nand flash memory and dram memory , higher overall revenue that provided for more leverage on fixed production costs and a higher percentage of revenue from the company 2019s direct sales channels .', 'the company anticipates that its gross margin and the gross margins of the personal computer , consumer electronics and mobile communication industries will be subject to pressure due to price competition .', 'the company expects gross margin percentage to decline sequentially in the first quarter of 2008 primarily as a result of the full-quarter impact of product transitions and reduced pricing that were effected in the fourth quarter of 2007 , lower sales of ilife and iwork in their second quarter of availability , seasonally higher component costs , and a higher mix of indirect sales .', 'these factors are expected to be partially offset by higher sales of the company 2019s mac os x operating system due to the introduction of mac os x version 10.5 leopard ( 2018 2018mac os x leopard 2019 2019 ) that became available in october 2007 .', 'the foregoing statements regarding the company 2019s expected gross margin percentage are forward-looking .', 'there can be no assurance that current gross margin percentage will be maintained or targeted gross margin percentage levels will be achieved .', 'in general , gross margins and margins on individual products will remain under downward pressure due to a variety of factors , including continued industry wide global pricing pressures , increased competition , compressed product life cycles , potential increases in the cost and availability of raw material and outside manufacturing services , and a potential shift in the company 2019s sales mix towards products with lower gross margins .', 'in response to these competitive pressures , the company expects it will continue to take pricing actions with respect to its products .', 'gross margins could also be affected by the company 2019s ability to effectively manage product quality and warranty costs and to stimulate .'] | | september 29 2007 | september 30 2006 | september 24 2005
net sales | $ 24006 | $ 19315 | $ 13931
cost of sales | 15852 | 13717 | 9889
gross margin | $ 8154 | $ 5598 | $ 4042
gross margin percentage | 34.0% ( 34.0 % ) | 29.0% ( 29.0 % ) | 29.0% ( 29.0 % ) | subtract(19315, 13931), divide(#0, 13931) | 0.38648 |
what was the difference in total impact between 2014 and 2015 , in millions? | Background: ['changes in the benchmark index component of the 10-year treasury yield .', 'the company def signated these derivatives as cash flow hedges .', 'on october 13 , 2015 , in conjunction with the pricing of the $ 4.5 billion senior notes , the companyr terminated these treasury lock contracts for a cash settlement payment of $ 16 million , which was recorded as a component of other comprehensive earnings and will be reclassified as an adjustment to interest expense over the ten years during which the related interest payments that were hedged will be recognized in income .', 'foreign currency risk we are exposed to foreign currency risks that arise from normal business operations .', "these risks include the translation of local currency balances of foreign subsidiaries , transaction gains and losses associated with intercompany loans with foreign subsidiaries and transactions denominated in currencies other than a location's functional currency .", 'we manage the exposure to these risks through a combination of normal operating activities and the use of foreign currency forward contracts .', 'contracts are denominated in currtt encies of major industrial countries .', 'our exposure to foreign currency exchange risks generally arises from our non-u.s .', 'operations , to the extent they are conducted ind local currency .', 'changes in foreign currency exchange rates affect translations of revenues denominated in currencies other than the u.s .', 'dollar .', 'during the years ended december 31 , 2016 , 2015 and 2014 , we generated approximately $ 1909 million , $ 1336 million and $ 1229 million , respectively , in revenues denominated in currencies other than the u.s .', 'dollar .', 'the major currencies to which our revenues are exposed are the brazilian real , the euro , the british pound sterling and the indian rupee .', 'a 10% ( 10 % ) move in average exchange rates for these currencies ( assuming a simultaneous and immediate 10% ( 10 % ) change in all of such rates for the relevant period ) would have resulted in the following increase or ( decrease ) in our reported revenues for the years ended december 31 , 2016 , 2015 and 2014 ( in millions ) : .']
Data Table:
****************************************
currency 2016 2015 2014
pound sterling $ 47 $ 34 $ 31
euro 38 33 30
real 32 29 38
indian rupee 12 10 8
total impact $ 129 $ 106 $ 107
****************************************
Post-table: ["while our results of operations have been impacted by the effects of currency fluctuations , our international operations' revenues and expenses are generally denominated in local currency , which reduces our economic exposure to foreign exchange risk in those jurisdictions .", 'revenues included $ 100 million and $ 243 million and net earnings included $ 10 million , anrr d $ 31 million , respectively , of unfavorable foreign currency impact during 2016 and 2015 resulting from a stronger u.s .', 'dollar during these years compared to thet preceding year .', 'in 2017 , we expect continued unfavorable foreign currency impact on our operating income resulting from the continued strengthening of the u.s .', 'dollar vs .', 'other currencies .', 'our foreign exchange risk management policy permits the use of derivative instruments , such as forward contracts and options , to reduce volatility in our results of operations and/or cash flows resulting from foreign exchange rate fluctuations .', 'we do not enter into foreign currency derivative instruments for trading purposes or to engage in speculative activitr y .', 'we do periodically enter inttt o foreign currency forward exchange contracts to hedge foreign currency exposure to intercompany loans .', 'as of december 31 , 2016 , the notional amount of these derivatives was approximately $ 143 million and the fair value was nominal .', 'these derivatives are intended to hedge the foreign exchange risks related to intercompany loans but have not been designated as hedges for accounting purposes .', 'we also use currency forward contracts to manage our exposure to fluctuations in costs caused by variations in indian rupee ( "inr" ) exchange rates .', 'as of december 31 , 2016 , the notional amount of these derivatives was approximately $ 7 million and the fair value was ll less than $ 1 million .', 'these inr forward contracts are designated as cash flow hedges .', 'the fair value of these currency forward contracts is determined using currency exchange market rates , obtained from reliable , independent , third m party banks , at the balance sheet date .', 'the fair value of forward contracts is subject to changes in currency exchange rates .', 'the company has no ineffectiveness related to its use of currency forward contracts in connection with inr cash flow hedges .', 'in conjunction with entering into the definitive agreement to acquire clear2pay in september 2014 , we initiated a foreign currency forward contract to purchase euros and sell u.s .', 'dollars to manage the risk arising from fluctuations in exchange rates until the closing because the purchase price was stated in euros .', 'as this derivative did not qualify for hedge accounting , we recorded a charge of $ 16 million in other income ( expense ) , net during the third quarter of 2014 .', 'this forward contract was settled on october 1 , 2014. .'] | -1.0 | FIS/2016/page_49.pdf-1 | ['changes in the benchmark index component of the 10-year treasury yield .', 'the company def signated these derivatives as cash flow hedges .', 'on october 13 , 2015 , in conjunction with the pricing of the $ 4.5 billion senior notes , the companyr terminated these treasury lock contracts for a cash settlement payment of $ 16 million , which was recorded as a component of other comprehensive earnings and will be reclassified as an adjustment to interest expense over the ten years during which the related interest payments that were hedged will be recognized in income .', 'foreign currency risk we are exposed to foreign currency risks that arise from normal business operations .', "these risks include the translation of local currency balances of foreign subsidiaries , transaction gains and losses associated with intercompany loans with foreign subsidiaries and transactions denominated in currencies other than a location's functional currency .", 'we manage the exposure to these risks through a combination of normal operating activities and the use of foreign currency forward contracts .', 'contracts are denominated in currtt encies of major industrial countries .', 'our exposure to foreign currency exchange risks generally arises from our non-u.s .', 'operations , to the extent they are conducted ind local currency .', 'changes in foreign currency exchange rates affect translations of revenues denominated in currencies other than the u.s .', 'dollar .', 'during the years ended december 31 , 2016 , 2015 and 2014 , we generated approximately $ 1909 million , $ 1336 million and $ 1229 million , respectively , in revenues denominated in currencies other than the u.s .', 'dollar .', 'the major currencies to which our revenues are exposed are the brazilian real , the euro , the british pound sterling and the indian rupee .', 'a 10% ( 10 % ) move in average exchange rates for these currencies ( assuming a simultaneous and immediate 10% ( 10 % ) change in all of such rates for the relevant period ) would have resulted in the following increase or ( decrease ) in our reported revenues for the years ended december 31 , 2016 , 2015 and 2014 ( in millions ) : .'] | ["while our results of operations have been impacted by the effects of currency fluctuations , our international operations' revenues and expenses are generally denominated in local currency , which reduces our economic exposure to foreign exchange risk in those jurisdictions .", 'revenues included $ 100 million and $ 243 million and net earnings included $ 10 million , anrr d $ 31 million , respectively , of unfavorable foreign currency impact during 2016 and 2015 resulting from a stronger u.s .', 'dollar during these years compared to thet preceding year .', 'in 2017 , we expect continued unfavorable foreign currency impact on our operating income resulting from the continued strengthening of the u.s .', 'dollar vs .', 'other currencies .', 'our foreign exchange risk management policy permits the use of derivative instruments , such as forward contracts and options , to reduce volatility in our results of operations and/or cash flows resulting from foreign exchange rate fluctuations .', 'we do not enter into foreign currency derivative instruments for trading purposes or to engage in speculative activitr y .', 'we do periodically enter inttt o foreign currency forward exchange contracts to hedge foreign currency exposure to intercompany loans .', 'as of december 31 , 2016 , the notional amount of these derivatives was approximately $ 143 million and the fair value was nominal .', 'these derivatives are intended to hedge the foreign exchange risks related to intercompany loans but have not been designated as hedges for accounting purposes .', 'we also use currency forward contracts to manage our exposure to fluctuations in costs caused by variations in indian rupee ( "inr" ) exchange rates .', 'as of december 31 , 2016 , the notional amount of these derivatives was approximately $ 7 million and the fair value was ll less than $ 1 million .', 'these inr forward contracts are designated as cash flow hedges .', 'the fair value of these currency forward contracts is determined using currency exchange market rates , obtained from reliable , independent , third m party banks , at the balance sheet date .', 'the fair value of forward contracts is subject to changes in currency exchange rates .', 'the company has no ineffectiveness related to its use of currency forward contracts in connection with inr cash flow hedges .', 'in conjunction with entering into the definitive agreement to acquire clear2pay in september 2014 , we initiated a foreign currency forward contract to purchase euros and sell u.s .', 'dollars to manage the risk arising from fluctuations in exchange rates until the closing because the purchase price was stated in euros .', 'as this derivative did not qualify for hedge accounting , we recorded a charge of $ 16 million in other income ( expense ) , net during the third quarter of 2014 .', 'this forward contract was settled on october 1 , 2014. .'] | ****************************************
currency 2016 2015 2014
pound sterling $ 47 $ 34 $ 31
euro 38 33 30
real 32 29 38
indian rupee 12 10 8
total impact $ 129 $ 106 $ 107
**************************************** | subtract(106, 107) | -1.0 |
what percentage of total floor space by business segment at december 31 , 2010 is leased? | Background: ['the following is a summary of our floor space by business segment at december 31 , 2010 : ( square feet in millions ) owned leased government- owned total .']
--
Data Table:
========================================
Row 1: ( square feet in millions ), owned, leased, government-owned, total
Row 2: aeronautics, 5.2, 3.7, 15.2, 24.1
Row 3: electronic systems, 10.3, 11.5, 7.1, 28.9
Row 4: information systems & global solutions, 2.6, 7.9, 2014, 10.5
Row 5: space systems, 8.6, 1.6, .9, 11.1
Row 6: corporate activities, 2.9, .8, 2014, 3.7
Row 7: total, 29.6, 25.5, 23.2, 78.3
========================================
--
Post-table: ['some of our owned properties , primarily classified under corporate activities , are leased to third parties .', 'in the area of manufacturing , most of the operations are of a job-order nature , rather than an assembly line process , and productive equipment has multiple uses for multiple products .', 'management believes that all of our major physical facilities are in good condition and are adequate for their intended use .', 'item 3 .', 'legal proceedings we are a party to or have property subject to litigation and other proceedings , including matters arising under provisions relating to the protection of the environment .', 'we believe the probability is remote that the outcome of these matters will have a material adverse effect on the corporation as a whole , notwithstanding that the unfavorable resolution of any matter may have a material effect on our net earnings in any particular quarter .', 'we cannot predict the outcome of legal proceedings with certainty .', 'these matters include the proceedings summarized in note 14 2013 legal proceedings , commitments , and contingencies beginning on page 78 of this form 10-k .', 'from time-to-time , agencies of the u.s .', 'government investigate whether our operations are being conducted in accordance with applicable regulatory requirements .', 'u.s .', 'government investigations of us , whether relating to government contracts or conducted for other reasons , could result in administrative , civil , or criminal liabilities , including repayments , fines , or penalties being imposed upon us , or could lead to suspension or debarment from future u.s .', 'government contracting .', 'u.s .', 'government investigations often take years to complete and many result in no adverse action against us .', 'we are subject to federal and state requirements for protection of the environment , including those for discharge of hazardous materials and remediation of contaminated sites .', 'as a result , we are a party to or have our property subject to various lawsuits or proceedings involving environmental protection matters .', 'due in part to their complexity and pervasiveness , such requirements have resulted in us being involved with related legal proceedings , claims , and remediation obligations .', 'the extent of our financial exposure cannot in all cases be reasonably estimated at this time .', 'for information regarding these matters , including current estimates of the amounts that we believe are required for remediation or clean-up to the extent estimable , see 201ccritical accounting policies 2013 environmental matters 201d in management 2019s discussion and analysis of financial condition and results of operations beginning on page 45 , and note 14 2013 legal proceedings , commitments , and contingencies beginning on page 78 of this form 10-k .', 'item 4 .', '( removed and reserved ) item 4 ( a ) .', 'executive officers of the registrant our executive officers are listed below , as well as information concerning their age at december 31 , 2010 , positions and offices held with the corporation , and principal occupation and business experience over the past five years .', 'there were no family relationships among any of our executive officers and directors .', 'all officers serve at the pleasure of the board of directors .', 'linda r .', 'gooden ( 57 ) , executive vice president 2013 information systems & global solutions ms .', 'gooden has served as executive vice president 2013 information systems & global solutions since january 2007 .', 'she previously served as deputy executive vice president 2013 information & technology services from october 2006 to december 2006 , and president , lockheed martin information technology from september 1997 to december 2006 .', 'christopher j .', 'gregoire ( 42 ) , vice president and controller ( chief accounting officer ) mr .', 'gregoire has served as vice president and controller ( chief accounting officer ) since march 2010 .', 'he previously was employed by sprint nextel corporation from august 2006 to may 2009 , most recently as principal accounting officer and assistant controller , and was a partner at deloitte & touche llp from september 2003 to july 2006. .'] | 0.32567 | LMT/2010/page_24.pdf-2 | ['the following is a summary of our floor space by business segment at december 31 , 2010 : ( square feet in millions ) owned leased government- owned total .'] | ['some of our owned properties , primarily classified under corporate activities , are leased to third parties .', 'in the area of manufacturing , most of the operations are of a job-order nature , rather than an assembly line process , and productive equipment has multiple uses for multiple products .', 'management believes that all of our major physical facilities are in good condition and are adequate for their intended use .', 'item 3 .', 'legal proceedings we are a party to or have property subject to litigation and other proceedings , including matters arising under provisions relating to the protection of the environment .', 'we believe the probability is remote that the outcome of these matters will have a material adverse effect on the corporation as a whole , notwithstanding that the unfavorable resolution of any matter may have a material effect on our net earnings in any particular quarter .', 'we cannot predict the outcome of legal proceedings with certainty .', 'these matters include the proceedings summarized in note 14 2013 legal proceedings , commitments , and contingencies beginning on page 78 of this form 10-k .', 'from time-to-time , agencies of the u.s .', 'government investigate whether our operations are being conducted in accordance with applicable regulatory requirements .', 'u.s .', 'government investigations of us , whether relating to government contracts or conducted for other reasons , could result in administrative , civil , or criminal liabilities , including repayments , fines , or penalties being imposed upon us , or could lead to suspension or debarment from future u.s .', 'government contracting .', 'u.s .', 'government investigations often take years to complete and many result in no adverse action against us .', 'we are subject to federal and state requirements for protection of the environment , including those for discharge of hazardous materials and remediation of contaminated sites .', 'as a result , we are a party to or have our property subject to various lawsuits or proceedings involving environmental protection matters .', 'due in part to their complexity and pervasiveness , such requirements have resulted in us being involved with related legal proceedings , claims , and remediation obligations .', 'the extent of our financial exposure cannot in all cases be reasonably estimated at this time .', 'for information regarding these matters , including current estimates of the amounts that we believe are required for remediation or clean-up to the extent estimable , see 201ccritical accounting policies 2013 environmental matters 201d in management 2019s discussion and analysis of financial condition and results of operations beginning on page 45 , and note 14 2013 legal proceedings , commitments , and contingencies beginning on page 78 of this form 10-k .', 'item 4 .', '( removed and reserved ) item 4 ( a ) .', 'executive officers of the registrant our executive officers are listed below , as well as information concerning their age at december 31 , 2010 , positions and offices held with the corporation , and principal occupation and business experience over the past five years .', 'there were no family relationships among any of our executive officers and directors .', 'all officers serve at the pleasure of the board of directors .', 'linda r .', 'gooden ( 57 ) , executive vice president 2013 information systems & global solutions ms .', 'gooden has served as executive vice president 2013 information systems & global solutions since january 2007 .', 'she previously served as deputy executive vice president 2013 information & technology services from october 2006 to december 2006 , and president , lockheed martin information technology from september 1997 to december 2006 .', 'christopher j .', 'gregoire ( 42 ) , vice president and controller ( chief accounting officer ) mr .', 'gregoire has served as vice president and controller ( chief accounting officer ) since march 2010 .', 'he previously was employed by sprint nextel corporation from august 2006 to may 2009 , most recently as principal accounting officer and assistant controller , and was a partner at deloitte & touche llp from september 2003 to july 2006. .'] | ========================================
Row 1: ( square feet in millions ), owned, leased, government-owned, total
Row 2: aeronautics, 5.2, 3.7, 15.2, 24.1
Row 3: electronic systems, 10.3, 11.5, 7.1, 28.9
Row 4: information systems & global solutions, 2.6, 7.9, 2014, 10.5
Row 5: space systems, 8.6, 1.6, .9, 11.1
Row 6: corporate activities, 2.9, .8, 2014, 3.7
Row 7: total, 29.6, 25.5, 23.2, 78.3
======================================== | divide(25.5, 78.3) | 0.32567 |
how much more , in millions , are the total level 3 assets than the level 3 liabilities for year ended dec 31 , 2009? | Background: ['pricing the loans .', 'when available , valuation assumptions included observable inputs based on whole loan sales .', 'adjustments are made to these assumptions to account for situations when uncertainties exist , including market conditions and liquidity .', 'credit risk is included as part of our valuation process for these loans by considering expected rates of return for market participants for similar loans in the marketplace .', 'based on the significance of unobservable inputs , we classify this portfolio as level 3 .', 'equity investments the valuation of direct and indirect private equity investments requires significant management judgment due to the absence of quoted market prices , inherent lack of liquidity and the long-term nature of such investments .', 'the carrying values of direct and affiliated partnership interests reflect the expected exit price and are based on various techniques including publicly traded price , multiples of adjusted earnings of the entity , independent appraisals , anticipated financing and sale transactions with third parties , or the pricing used to value the entity in a recent financing transaction .', 'in september 2009 , the fasb issued asu 2009-12 2013 fair value measurements and disclosures ( topic 820 ) 2013 investments in certain entities that calculate net asset value per share ( or its equivalent ) .', 'based on the guidance , we value indirect investments in private equity funds based on net asset value as provided in the financial statements that we receive from their managers .', 'due to the time lag in our receipt of the financial information and based on a review of investments and valuation techniques applied , adjustments to the manager-provided value are made when available recent portfolio company information or market information indicates a significant change in value from that provided by the manager of the fund .', 'these investments are classified as level 3 .', 'customer resale agreements we account for structured resale agreements , which are economically hedged using free-standing financial derivatives , at fair value .', 'the fair value for structured resale agreements is determined using a model which includes observable market data such as interest rates as inputs .', 'readily observable market inputs to this model can be validated to external sources , including yield curves , implied volatility or other market-related data .', 'these instruments are classified as level 2 .', 'blackrock series c preferred stock effective february 27 , 2009 , we elected to account for the approximately 2.9 million shares of the blackrock series c preferred stock received in a stock exchange with blackrock at fair value .', 'the series c preferred stock economically hedges the blackrock ltip liability that is accounted for as a derivative .', 'the fair value of the series c preferred stock is determined using a third-party modeling approach , which includes both observable and unobservable inputs .', 'this approach considers expectations of a default/liquidation event and the use of liquidity discounts based on our inability to sell the security at a fair , open market price in a timely manner .', 'due to the significance of unobservable inputs , this security is classified as level 3 .', 'level 3 assets and liabilities financial instruments are considered level 3 when their values are determined using pricing models , discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable .', 'level 3 assets and liabilities dollars in millions level 3 assets level 3 liabilities % ( % ) of total assets at fair value % ( % ) of total liabilities at fair value consolidated assets consolidated liabilities .']
Table:
----------------------------------------
Row 1: dollars in millions, total level 3 assets, total level 3 liabilities, % ( % ) of total assets at fair value, % ( % ) of total liabilities at fair value, % ( % ) of consolidated assets, % ( % ) of consolidated liabilities,
Row 2: december 31 2009, $ 14151, $ 295, 22% ( 22 % ), 6% ( 6 % ), 5% ( 5 % ), < 1, % ( % )
Row 3: december 31 2008, 7012, 22, 19% ( 19 % ), < 1% ( 1 % ), 2% ( 2 % ), < 1% ( 1 % ),
----------------------------------------
Additional Information: ['during 2009 , securities transferred into level 3 from level 2 exceeded securities transferred out by $ 4.4 billion .', 'total securities measured at fair value and classified in level 3 at december 31 , 2009 and december 31 , 2008 included securities available for sale and trading securities consisting primarily of non-agency residential mortgage-backed securities and asset- backed securities where management determined that the volume and level of activity for these assets had significantly decreased .', 'there have been no recent new 201cprivate label 201d issues in the residential mortgage-backed securities market .', 'the lack of relevant market activity for these securities resulted in management modifying its valuation methodology for the instruments transferred in 2009 .', 'other level 3 assets include certain commercial mortgage loans held for sale , certain equity securities , auction rate securities , corporate debt securities , private equity investments , residential mortgage servicing rights and other assets. .'] | 13856.0 | PNC/2009/page_51.pdf-1 | ['pricing the loans .', 'when available , valuation assumptions included observable inputs based on whole loan sales .', 'adjustments are made to these assumptions to account for situations when uncertainties exist , including market conditions and liquidity .', 'credit risk is included as part of our valuation process for these loans by considering expected rates of return for market participants for similar loans in the marketplace .', 'based on the significance of unobservable inputs , we classify this portfolio as level 3 .', 'equity investments the valuation of direct and indirect private equity investments requires significant management judgment due to the absence of quoted market prices , inherent lack of liquidity and the long-term nature of such investments .', 'the carrying values of direct and affiliated partnership interests reflect the expected exit price and are based on various techniques including publicly traded price , multiples of adjusted earnings of the entity , independent appraisals , anticipated financing and sale transactions with third parties , or the pricing used to value the entity in a recent financing transaction .', 'in september 2009 , the fasb issued asu 2009-12 2013 fair value measurements and disclosures ( topic 820 ) 2013 investments in certain entities that calculate net asset value per share ( or its equivalent ) .', 'based on the guidance , we value indirect investments in private equity funds based on net asset value as provided in the financial statements that we receive from their managers .', 'due to the time lag in our receipt of the financial information and based on a review of investments and valuation techniques applied , adjustments to the manager-provided value are made when available recent portfolio company information or market information indicates a significant change in value from that provided by the manager of the fund .', 'these investments are classified as level 3 .', 'customer resale agreements we account for structured resale agreements , which are economically hedged using free-standing financial derivatives , at fair value .', 'the fair value for structured resale agreements is determined using a model which includes observable market data such as interest rates as inputs .', 'readily observable market inputs to this model can be validated to external sources , including yield curves , implied volatility or other market-related data .', 'these instruments are classified as level 2 .', 'blackrock series c preferred stock effective february 27 , 2009 , we elected to account for the approximately 2.9 million shares of the blackrock series c preferred stock received in a stock exchange with blackrock at fair value .', 'the series c preferred stock economically hedges the blackrock ltip liability that is accounted for as a derivative .', 'the fair value of the series c preferred stock is determined using a third-party modeling approach , which includes both observable and unobservable inputs .', 'this approach considers expectations of a default/liquidation event and the use of liquidity discounts based on our inability to sell the security at a fair , open market price in a timely manner .', 'due to the significance of unobservable inputs , this security is classified as level 3 .', 'level 3 assets and liabilities financial instruments are considered level 3 when their values are determined using pricing models , discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable .', 'level 3 assets and liabilities dollars in millions level 3 assets level 3 liabilities % ( % ) of total assets at fair value % ( % ) of total liabilities at fair value consolidated assets consolidated liabilities .'] | ['during 2009 , securities transferred into level 3 from level 2 exceeded securities transferred out by $ 4.4 billion .', 'total securities measured at fair value and classified in level 3 at december 31 , 2009 and december 31 , 2008 included securities available for sale and trading securities consisting primarily of non-agency residential mortgage-backed securities and asset- backed securities where management determined that the volume and level of activity for these assets had significantly decreased .', 'there have been no recent new 201cprivate label 201d issues in the residential mortgage-backed securities market .', 'the lack of relevant market activity for these securities resulted in management modifying its valuation methodology for the instruments transferred in 2009 .', 'other level 3 assets include certain commercial mortgage loans held for sale , certain equity securities , auction rate securities , corporate debt securities , private equity investments , residential mortgage servicing rights and other assets. .'] | ----------------------------------------
Row 1: dollars in millions, total level 3 assets, total level 3 liabilities, % ( % ) of total assets at fair value, % ( % ) of total liabilities at fair value, % ( % ) of consolidated assets, % ( % ) of consolidated liabilities,
Row 2: december 31 2009, $ 14151, $ 295, 22% ( 22 % ), 6% ( 6 % ), 5% ( 5 % ), < 1, % ( % )
Row 3: december 31 2008, 7012, 22, 19% ( 19 % ), < 1% ( 1 % ), 2% ( 2 % ), < 1% ( 1 % ),
---------------------------------------- | subtract(14151, 295) | 13856.0 |
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