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for december 2016 and december 2015 , what was total fair value of loans receivable in billions? | Background: ['the goldman sachs group , inc .', 'and subsidiaries notes to consolidated financial statements long-term debt instruments the aggregate contractual principal amount of long-term other secured financings for which the fair value option was elected exceeded the related fair value by $ 361 million and $ 362 million as of december 2016 and december 2015 , respectively .', 'the aggregate contractual principal amount of unsecured long-term borrowings for which the fair value option was elected exceeded the related fair value by $ 1.56 billion and $ 1.12 billion as of december 2016 and december 2015 , respectively .', 'the amounts above include both principal- and non-principal-protected long-term borrowings .', 'impact of credit spreads on loans and lending commitments the estimated net gain attributable to changes in instrument-specific credit spreads on loans and lending commitments for which the fair value option was elected was $ 281 million for 2016 , $ 751 million for 2015 and $ 1.83 billion for 2014 , respectively .', 'the firm generally calculates the fair value of loans and lending commitments for which the fair value option is elected by discounting future cash flows at a rate which incorporates the instrument-specific credit spreads .', 'for floating-rate loans and lending commitments , substantially all changes in fair value are attributable to changes in instrument-specific credit spreads , whereas for fixed-rate loans and lending commitments , changes in fair value are also attributable to changes in interest rates .', 'debt valuation adjustment the firm calculates the fair value of financial liabilities for which the fair value option is elected by discounting future cash flows at a rate which incorporates the firm 2019s credit spreads .', 'the net dva on such financial liabilities was a loss of $ 844 million ( $ 544 million , net of tax ) for 2016 and was included in 201cdebt valuation adjustment 201d in the consolidated statements of comprehensive income .', 'the gains/ ( losses ) reclassified to earnings from accumulated other comprehensive loss upon extinguishment of such financial liabilities were not material for 2016 .', 'note 9 .', 'loans receivable loans receivable is comprised of loans held for investment that are accounted for at amortized cost net of allowance for loan losses .', 'interest on loans receivable is recognized over the life of the loan and is recorded on an accrual basis .', 'the table below presents details about loans receivable. .']
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Tabular Data:
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$ in millions | as of december 2016 | as of december 2015
corporate loans | $ 24837 | $ 20740
loans to private wealth management clients | 13828 | 13961
loans backed by commercial real estate | 4761 | 5271
loans backed by residential real estate | 3865 | 2316
other loans | 2890 | 3533
total loans receivable gross | 50181 | 45821
allowance for loan losses | -509 ( 509 ) | -414 ( 414 )
total loans receivable | $ 49672 | $ 45407
----------------------------------------
##########
Follow-up: ['as of december 2016 and december 2015 , the fair value of loans receivable was $ 49.80 billion and $ 45.19 billion , respectively .', 'as of december 2016 , had these loans been carried at fair value and included in the fair value hierarchy , $ 28.40 billion and $ 21.40 billion would have been classified in level 2 and level 3 , respectively .', 'as of december 2015 , had these loans been carried at fair value and included in the fair value hierarchy , $ 23.91 billion and $ 21.28 billion would have been classified in level 2 and level 3 , respectively .', 'the firm also extends lending commitments that are held for investment and accounted for on an accrual basis .', 'as of december 2016 and december 2015 , such lending commitments were $ 98.05 billion and $ 93.92 billion , respectively .', 'substantially all of these commitments were extended to corporate borrowers and were primarily related to the firm 2019s relationship lending activities .', 'the carrying value and the estimated fair value of such lending commitments were liabilities of $ 327 million and $ 2.55 billion , respectively , as of december 2016 , and $ 291 million and $ 3.32 billion , respectively , as of december 2015 .', 'as of december 2016 , had these lending commitments been carried at fair value and included in the fair value hierarchy , $ 1.10 billion and $ 1.45 billion would have been classified in level 2 and level 3 , respectively .', 'as of december 2015 , had these lending commitments been carried at fair value and included in the fair value hierarchy , $ 1.35 billion and $ 1.97 billion would have been classified in level 2 and level 3 , respectively .', 'goldman sachs 2016 form 10-k 147 .'] | 94.99 | GS/2016/page_161.pdf-3 | ['the goldman sachs group , inc .', 'and subsidiaries notes to consolidated financial statements long-term debt instruments the aggregate contractual principal amount of long-term other secured financings for which the fair value option was elected exceeded the related fair value by $ 361 million and $ 362 million as of december 2016 and december 2015 , respectively .', 'the aggregate contractual principal amount of unsecured long-term borrowings for which the fair value option was elected exceeded the related fair value by $ 1.56 billion and $ 1.12 billion as of december 2016 and december 2015 , respectively .', 'the amounts above include both principal- and non-principal-protected long-term borrowings .', 'impact of credit spreads on loans and lending commitments the estimated net gain attributable to changes in instrument-specific credit spreads on loans and lending commitments for which the fair value option was elected was $ 281 million for 2016 , $ 751 million for 2015 and $ 1.83 billion for 2014 , respectively .', 'the firm generally calculates the fair value of loans and lending commitments for which the fair value option is elected by discounting future cash flows at a rate which incorporates the instrument-specific credit spreads .', 'for floating-rate loans and lending commitments , substantially all changes in fair value are attributable to changes in instrument-specific credit spreads , whereas for fixed-rate loans and lending commitments , changes in fair value are also attributable to changes in interest rates .', 'debt valuation adjustment the firm calculates the fair value of financial liabilities for which the fair value option is elected by discounting future cash flows at a rate which incorporates the firm 2019s credit spreads .', 'the net dva on such financial liabilities was a loss of $ 844 million ( $ 544 million , net of tax ) for 2016 and was included in 201cdebt valuation adjustment 201d in the consolidated statements of comprehensive income .', 'the gains/ ( losses ) reclassified to earnings from accumulated other comprehensive loss upon extinguishment of such financial liabilities were not material for 2016 .', 'note 9 .', 'loans receivable loans receivable is comprised of loans held for investment that are accounted for at amortized cost net of allowance for loan losses .', 'interest on loans receivable is recognized over the life of the loan and is recorded on an accrual basis .', 'the table below presents details about loans receivable. .'] | ['as of december 2016 and december 2015 , the fair value of loans receivable was $ 49.80 billion and $ 45.19 billion , respectively .', 'as of december 2016 , had these loans been carried at fair value and included in the fair value hierarchy , $ 28.40 billion and $ 21.40 billion would have been classified in level 2 and level 3 , respectively .', 'as of december 2015 , had these loans been carried at fair value and included in the fair value hierarchy , $ 23.91 billion and $ 21.28 billion would have been classified in level 2 and level 3 , respectively .', 'the firm also extends lending commitments that are held for investment and accounted for on an accrual basis .', 'as of december 2016 and december 2015 , such lending commitments were $ 98.05 billion and $ 93.92 billion , respectively .', 'substantially all of these commitments were extended to corporate borrowers and were primarily related to the firm 2019s relationship lending activities .', 'the carrying value and the estimated fair value of such lending commitments were liabilities of $ 327 million and $ 2.55 billion , respectively , as of december 2016 , and $ 291 million and $ 3.32 billion , respectively , as of december 2015 .', 'as of december 2016 , had these lending commitments been carried at fair value and included in the fair value hierarchy , $ 1.10 billion and $ 1.45 billion would have been classified in level 2 and level 3 , respectively .', 'as of december 2015 , had these lending commitments been carried at fair value and included in the fair value hierarchy , $ 1.35 billion and $ 1.97 billion would have been classified in level 2 and level 3 , respectively .', 'goldman sachs 2016 form 10-k 147 .'] | ----------------------------------------
$ in millions | as of december 2016 | as of december 2015
corporate loans | $ 24837 | $ 20740
loans to private wealth management clients | 13828 | 13961
loans backed by commercial real estate | 4761 | 5271
loans backed by residential real estate | 3865 | 2316
other loans | 2890 | 3533
total loans receivable gross | 50181 | 45821
allowance for loan losses | -509 ( 509 ) | -414 ( 414 )
total loans receivable | $ 49672 | $ 45407
---------------------------------------- | add(49.80, 45.19) | 94.99 |
what was the percentage of the decline in the total accounts payable and other current liabilities from 2014 to 2015 | Pre-text: ['appropriate statistical bases .', 'total expense for repairs and maintenance incurred was $ 2.5 billion for 2015 , $ 2.4 billion for 2014 , and $ 2.3 billion for 2013 .', 'assets held under capital leases are recorded at the lower of the net present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease .', 'amortization expense is computed using the straight-line method over the shorter of the estimated useful lives of the assets or the period of the related lease .', '13 .', 'accounts payable and other current liabilities dec .', '31 , dec .', '31 , millions 2015 2014 .']
Data Table:
millions, dec . 31 2015, dec . 31 2014
accounts payable, $ 743, $ 877
income and other taxes payable, 434, 412
accrued wages and vacation, 391, 409
interest payable, 208, 178
accrued casualty costs, 181, 249
equipment rents payable, 105, 100
dividends payable [a], -, 438
other, 550, 640
total accounts payable and other current liabilities, $ 2612, $ 3303
Follow-up: ['[a] beginning in 2015 , the timing of the dividend declaration and payable dates was aligned to occur within the same quarter .', 'the 2015 dividends paid amount includes the fourth quarter 2014 dividend of $ 438 million , which was paid on january 2 , 2015 , the first quarter 2015 dividend of $ 484 million , which was paid on march 30 , 2015 , the second quarter 2015 dividend of $ 479 million , which was paid on june 30 , 2015 , the third quarter 2015 dividend of $ 476 million , which was paid on september 30 , 2015 , as well as the fourth quarter 2015 dividend of $ 467 million , which was paid on december 30 , 2015 .', '14 .', 'financial instruments strategy and risk 2013 we may use derivative financial instruments in limited instances for other than trading purposes to assist in managing our overall exposure to fluctuations in interest rates and fuel prices .', 'we are not a party to leveraged derivatives and , by policy , do not use derivative financial instruments for speculative purposes .', 'derivative financial instruments qualifying for hedge accounting must maintain a specified level of effectiveness between the hedging instrument and the item being hedged , both at inception and throughout the hedged period .', 'we formally document the nature and relationships between the hedging instruments and hedged items at inception , as well as our risk- management objectives , strategies for undertaking the various hedge transactions , and method of assessing hedge effectiveness .', 'changes in the fair market value of derivative financial instruments that do not qualify for hedge accounting are charged to earnings .', 'we may use swaps , collars , futures , and/or forward contracts to mitigate the risk of adverse movements in interest rates and fuel prices ; however , the use of these derivative financial instruments may limit future benefits from favorable interest rate and fuel price movements .', 'market and credit risk 2013 we address market risk related to derivative financial instruments by selecting instruments with value fluctuations that highly correlate with the underlying hedged item .', 'we manage credit risk related to derivative financial instruments , which is minimal , by requiring high credit standards for counterparties and periodic settlements .', 'at december 31 , 2015 , and 2014 , we were not required to provide collateral , nor had we received collateral , relating to our hedging activities .', 'interest rate fair value hedges 2013 we manage our overall exposure to fluctuations in interest rates by adjusting the proportion of fixed and floating rate debt instruments within our debt portfolio over a given period .', 'we generally manage the mix of fixed and floating rate debt through the issuance of targeted amounts of each as debt matures or as we require incremental borrowings .', 'we employ derivatives , primarily swaps , as one of the tools to obtain the targeted mix .', 'in addition , we also obtain flexibility in managing interest costs and the interest rate mix within our debt portfolio by evaluating the issuance of and managing outstanding callable fixed-rate debt securities .', 'swaps allow us to convert debt from fixed rates to variable rates and thereby hedge the risk of changes in the debt 2019s fair value attributable to the changes in interest rates .', 'we account for swaps as fair value hedges using the short-cut method ; therefore , we do not record any ineffectiveness within our .'] | -0.2092 | UNP/2015/page_76.pdf-1 | ['appropriate statistical bases .', 'total expense for repairs and maintenance incurred was $ 2.5 billion for 2015 , $ 2.4 billion for 2014 , and $ 2.3 billion for 2013 .', 'assets held under capital leases are recorded at the lower of the net present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease .', 'amortization expense is computed using the straight-line method over the shorter of the estimated useful lives of the assets or the period of the related lease .', '13 .', 'accounts payable and other current liabilities dec .', '31 , dec .', '31 , millions 2015 2014 .'] | ['[a] beginning in 2015 , the timing of the dividend declaration and payable dates was aligned to occur within the same quarter .', 'the 2015 dividends paid amount includes the fourth quarter 2014 dividend of $ 438 million , which was paid on january 2 , 2015 , the first quarter 2015 dividend of $ 484 million , which was paid on march 30 , 2015 , the second quarter 2015 dividend of $ 479 million , which was paid on june 30 , 2015 , the third quarter 2015 dividend of $ 476 million , which was paid on september 30 , 2015 , as well as the fourth quarter 2015 dividend of $ 467 million , which was paid on december 30 , 2015 .', '14 .', 'financial instruments strategy and risk 2013 we may use derivative financial instruments in limited instances for other than trading purposes to assist in managing our overall exposure to fluctuations in interest rates and fuel prices .', 'we are not a party to leveraged derivatives and , by policy , do not use derivative financial instruments for speculative purposes .', 'derivative financial instruments qualifying for hedge accounting must maintain a specified level of effectiveness between the hedging instrument and the item being hedged , both at inception and throughout the hedged period .', 'we formally document the nature and relationships between the hedging instruments and hedged items at inception , as well as our risk- management objectives , strategies for undertaking the various hedge transactions , and method of assessing hedge effectiveness .', 'changes in the fair market value of derivative financial instruments that do not qualify for hedge accounting are charged to earnings .', 'we may use swaps , collars , futures , and/or forward contracts to mitigate the risk of adverse movements in interest rates and fuel prices ; however , the use of these derivative financial instruments may limit future benefits from favorable interest rate and fuel price movements .', 'market and credit risk 2013 we address market risk related to derivative financial instruments by selecting instruments with value fluctuations that highly correlate with the underlying hedged item .', 'we manage credit risk related to derivative financial instruments , which is minimal , by requiring high credit standards for counterparties and periodic settlements .', 'at december 31 , 2015 , and 2014 , we were not required to provide collateral , nor had we received collateral , relating to our hedging activities .', 'interest rate fair value hedges 2013 we manage our overall exposure to fluctuations in interest rates by adjusting the proportion of fixed and floating rate debt instruments within our debt portfolio over a given period .', 'we generally manage the mix of fixed and floating rate debt through the issuance of targeted amounts of each as debt matures or as we require incremental borrowings .', 'we employ derivatives , primarily swaps , as one of the tools to obtain the targeted mix .', 'in addition , we also obtain flexibility in managing interest costs and the interest rate mix within our debt portfolio by evaluating the issuance of and managing outstanding callable fixed-rate debt securities .', 'swaps allow us to convert debt from fixed rates to variable rates and thereby hedge the risk of changes in the debt 2019s fair value attributable to the changes in interest rates .', 'we account for swaps as fair value hedges using the short-cut method ; therefore , we do not record any ineffectiveness within our .'] | millions, dec . 31 2015, dec . 31 2014
accounts payable, $ 743, $ 877
income and other taxes payable, 434, 412
accrued wages and vacation, 391, 409
interest payable, 208, 178
accrued casualty costs, 181, 249
equipment rents payable, 105, 100
dividends payable [a], -, 438
other, 550, 640
total accounts payable and other current liabilities, $ 2612, $ 3303 | subtract(2612, 3303), divide(#0, 3303) | -0.2092 |
what was the aggerate net sales in 2008? | Pre-text: ['management 2019s discussion and analysis of financial condition and results of operations in 2008 , asp was flat compared to 2007 .', 'by comparison , asp decreased approximately 9% ( 9 % ) in 2007 and decreased approximately 11% ( 11 % ) in 2006 .', 'the segment has several large customers located throughout the world .', 'in 2008 , aggregate net sales to the segment 2019s five largest customers accounted for approximately 41% ( 41 % ) of the segment 2019s net sales .', 'besides selling directly to carriers and operators , the segment also sells products through a variety of third-party distributors and retailers , which accounted for approximately 24% ( 24 % ) of the segment 2019s net sales in 2008 .', 'although the u.s .', 'market continued to be the segment 2019s largest individual market , many of our customers , and 56% ( 56 % ) of the segment 2019s 2008 net sales , were outside the u.s .', 'in 2008 , the largest of these international markets were brazil , china and mexico .', 'as the segment 2019s revenue transactions are largely denominated in local currencies , we are impacted by the weakening in the value of these local currencies against the u.s .', 'dollar .', 'a number of our more significant international markets , particularly in latin america , were impacted by this trend in late 2008 .', 'home and networks mobility segment the home and networks mobility segment designs , manufactures , sells , installs and services : ( i ) digital video , internet protocol video and broadcast network interactive set-tops , end-to-end video distribution systems , broadband access infrastructure platforms , and associated data and voice customer premise equipment to cable television and telecom service providers ( collectively , referred to as the 2018 2018home business 2019 2019 ) , and ( ii ) wireless access systems , including cellular infrastructure systems and wireless broadband systems , to wireless service providers ( collectively , referred to as the 2018 2018network business 2019 2019 ) .', 'in 2009 , the segment 2019s net sales represented 36% ( 36 % ) of the company 2019s consolidated net sales , compared to 33% ( 33 % ) in 2008 and 27% ( 27 % ) in 2007 .', 'years ended december 31 percent change ( dollars in millions ) 2009 2008 2007 2009 20142008 2008 20142007 .']
##
Tabular Data:
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( dollars in millions ) | years ended december 31 2009 | years ended december 31 2008 | years ended december 31 2007 | years ended december 31 2009 20142008 | 2008 20142007
segment net sales | $ 7963 | $ 10086 | $ 10014 | ( 21 ) % ( % ) | 1% ( 1 % )
operating earnings | 558 | 918 | 709 | ( 39 ) % ( % ) | 29% ( 29 % )
========================================
##
Post-table: ['segment results 20142009 compared to 2008 in 2009 , the segment 2019s net sales were $ 8.0 billion , a decrease of 21% ( 21 % ) compared to net sales of $ 10.1 billion in 2008 .', 'the 21% ( 21 % ) decrease in net sales reflects a 22% ( 22 % ) decrease in net sales in the networks business and a 21% ( 21 % ) decrease in net sales in the home business .', 'the 22% ( 22 % ) decrease in net sales in the networks business was primarily driven by lower net sales of gsm , cdma , umts and iden infrastructure equipment , partially offset by higher net sales of wimax products .', 'the 21% ( 21 % ) decrease in net sales in the home business was primarily driven by a 24% ( 24 % ) decrease in net sales of digital entertainment devices , reflecting : ( i ) an 18% ( 18 % ) decrease in shipments of digital entertainment devices , primarily due to lower shipments to large cable and telecommunications operators in north america as a result of macroeconomic conditions , and ( ii ) a lower asp due to an unfavorable shift in product mix .', 'the segment shipped 14.7 million digital entertainment devices in 2009 , compared to 18.0 million shipped in 2008 .', 'on a geographic basis , the 21% ( 21 % ) decrease in net sales was driven by lower net sales in all regions .', 'the decrease in net sales in north america was primarily due to : ( i ) lower net sales in the home business , and ( ii ) lower net sales of cdma and iden infrastructure equipment , partially offset by higher net sales of wimax products .', 'the decrease in net sales in emea was primarily due to lower net sales of gsm infrastructure equipment , partially offset by higher net sales of wimax products and higher net sales in the home business .', 'the decrease in net sales in asia was primarily driven by lower net sales of gsm , umts and cdma infrastructure equipment , partially offset by higher net sales in the home business .', 'the decrease in net sales in latin america was primarily due to : ( i ) lower net sales in the home business , and ( ii ) lower net sales of iden infrastructure equipment , partially offset by higher net sales of wimax products .', 'net sales in north america accounted for approximately 51% ( 51 % ) of the segment 2019s total net sales in 2009 , compared to approximately 50% ( 50 % ) of the segment 2019s total net sales in 2008. .'] | 4135.26 | MSI/2009/page_67.pdf-1 | ['management 2019s discussion and analysis of financial condition and results of operations in 2008 , asp was flat compared to 2007 .', 'by comparison , asp decreased approximately 9% ( 9 % ) in 2007 and decreased approximately 11% ( 11 % ) in 2006 .', 'the segment has several large customers located throughout the world .', 'in 2008 , aggregate net sales to the segment 2019s five largest customers accounted for approximately 41% ( 41 % ) of the segment 2019s net sales .', 'besides selling directly to carriers and operators , the segment also sells products through a variety of third-party distributors and retailers , which accounted for approximately 24% ( 24 % ) of the segment 2019s net sales in 2008 .', 'although the u.s .', 'market continued to be the segment 2019s largest individual market , many of our customers , and 56% ( 56 % ) of the segment 2019s 2008 net sales , were outside the u.s .', 'in 2008 , the largest of these international markets were brazil , china and mexico .', 'as the segment 2019s revenue transactions are largely denominated in local currencies , we are impacted by the weakening in the value of these local currencies against the u.s .', 'dollar .', 'a number of our more significant international markets , particularly in latin america , were impacted by this trend in late 2008 .', 'home and networks mobility segment the home and networks mobility segment designs , manufactures , sells , installs and services : ( i ) digital video , internet protocol video and broadcast network interactive set-tops , end-to-end video distribution systems , broadband access infrastructure platforms , and associated data and voice customer premise equipment to cable television and telecom service providers ( collectively , referred to as the 2018 2018home business 2019 2019 ) , and ( ii ) wireless access systems , including cellular infrastructure systems and wireless broadband systems , to wireless service providers ( collectively , referred to as the 2018 2018network business 2019 2019 ) .', 'in 2009 , the segment 2019s net sales represented 36% ( 36 % ) of the company 2019s consolidated net sales , compared to 33% ( 33 % ) in 2008 and 27% ( 27 % ) in 2007 .', 'years ended december 31 percent change ( dollars in millions ) 2009 2008 2007 2009 20142008 2008 20142007 .'] | ['segment results 20142009 compared to 2008 in 2009 , the segment 2019s net sales were $ 8.0 billion , a decrease of 21% ( 21 % ) compared to net sales of $ 10.1 billion in 2008 .', 'the 21% ( 21 % ) decrease in net sales reflects a 22% ( 22 % ) decrease in net sales in the networks business and a 21% ( 21 % ) decrease in net sales in the home business .', 'the 22% ( 22 % ) decrease in net sales in the networks business was primarily driven by lower net sales of gsm , cdma , umts and iden infrastructure equipment , partially offset by higher net sales of wimax products .', 'the 21% ( 21 % ) decrease in net sales in the home business was primarily driven by a 24% ( 24 % ) decrease in net sales of digital entertainment devices , reflecting : ( i ) an 18% ( 18 % ) decrease in shipments of digital entertainment devices , primarily due to lower shipments to large cable and telecommunications operators in north america as a result of macroeconomic conditions , and ( ii ) a lower asp due to an unfavorable shift in product mix .', 'the segment shipped 14.7 million digital entertainment devices in 2009 , compared to 18.0 million shipped in 2008 .', 'on a geographic basis , the 21% ( 21 % ) decrease in net sales was driven by lower net sales in all regions .', 'the decrease in net sales in north america was primarily due to : ( i ) lower net sales in the home business , and ( ii ) lower net sales of cdma and iden infrastructure equipment , partially offset by higher net sales of wimax products .', 'the decrease in net sales in emea was primarily due to lower net sales of gsm infrastructure equipment , partially offset by higher net sales of wimax products and higher net sales in the home business .', 'the decrease in net sales in asia was primarily driven by lower net sales of gsm , umts and cdma infrastructure equipment , partially offset by higher net sales in the home business .', 'the decrease in net sales in latin america was primarily due to : ( i ) lower net sales in the home business , and ( ii ) lower net sales of iden infrastructure equipment , partially offset by higher net sales of wimax products .', 'net sales in north america accounted for approximately 51% ( 51 % ) of the segment 2019s total net sales in 2009 , compared to approximately 50% ( 50 % ) of the segment 2019s total net sales in 2008. .'] | ========================================
( dollars in millions ) | years ended december 31 2009 | years ended december 31 2008 | years ended december 31 2007 | years ended december 31 2009 20142008 | 2008 20142007
segment net sales | $ 7963 | $ 10086 | $ 10014 | ( 21 ) % ( % ) | 1% ( 1 % )
operating earnings | 558 | 918 | 709 | ( 39 ) % ( % ) | 29% ( 29 % )
======================================== | multiply(10086, 41%) | 4135.26 |
if the companies accounting policy were to include accrued interest and penalties in utp , what would the balance be as of at june 30 2009? | Context: ['48 2022 2010 annual report as part of the acquisition of gfsi , we acquired gross net operating loss ( 201cnol 201d ) carry forwards of $ 64431 ; of which , only $ 34592 are expected to be utilized due to the application of irc section 382 .', 'separately , as of june 30 , 2010 , we had state nol carry forwards of $ 838 .', 'these losses have varying expiration dates , ranging from 2012 to 2029 .', 'based on state tax rules which restrict our usage of these losses , we believe it is more likely than not that $ 306 of these losses will expire unutilized .', 'accordingly , a valuation allowance of $ 306 has been recorded against these assets as of june 30 , 2010 .', 'the company paid income taxes of $ 42116 , $ 62965 , and $ 51709 in 2010 , 2009 , and 2008 , respectively .', 'at june 30 , 2009 , the company had $ 5518 of unrecognized tax benefits .', 'at june 30 , 2010 , the company had $ 7187 of unrecognized tax benefits , of which , $ 4989 , if recognized , would affect our effective tax rate .', 'we had accrued interest and penalties of $ 890 and $ 732 related to uncertain tax positions at june 30 , 2010 and 2009 , respectively .', 'a reconciliation of the unrecognized tax benefits for the years ended june 30 , 2010 and 2009 follows : unrecognized tax benefits .']
--
Data Table:
****************************************
| unrecognized tax benefits
balance at july 1 2008 | $ 4055
additions for current year tax positions | 1044
additions for prior year tax positions | 2052
reductions for prior year tax positions | -110 ( 110 )
settlements | -936 ( 936 )
reductions related to expirations of statute of limitations | -587 ( 587 )
balance at june 30 2009 | 5518
additions for current year tax positions | 691
reductions for current year tax positions | -39 ( 39 )
additions for prior year tax positions | 2049
reductions for prior year tax positions | -298 ( 298 )
settlements | -
reductions related to expirations of statute of limitations | -734 ( 734 )
balance at june 30 2010 | $ 7187
****************************************
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Follow-up: ['during the fiscal year ended june 30 , 2010 , the internal revenue service commenced an examination of the company 2019s u.s .', 'federal income tax returns for fiscal years ended june 2008 through 2009 .', 'the u.s .', 'federal and state income tax returns for june 30 , 2007 and all subsequent years still remain subject to examination as of june 30 , 2010 under statute of limitations rules .', 'we anticipate potential changes resulting from the expiration of statutes of limitations of up to $ 965 could reduce the unrecognized tax benefits balance within twelve months of june 30 , note 8 : industry and supplier concentrations the company sells its products to banks , credit unions , and financial institutions throughout the united states and generally does not require collateral .', 'all billings to customers are due 30 days from date of billing .', 'reserves ( which are insignificant at june 30 , 2010 , 2009 and 2008 ) are maintained for potential credit losses .', 'in addition , the company purchases most of its computer hardware and related maintenance for resale in relation to installation of jha software systems from two suppliers .', 'there are a limited number of hardware suppliers for these required items .', 'if these relationships were terminated , it could have a significant negative impact on the future operations of the company .', 'note 9 : stock based compensation plans the company previously issued options to employees under the 1996 stock option plan ( 201c1996 sop 201d ) and currently issues options to outside directors under the 2005 non-qualified stock option plan ( 201c2005 nsop 201d ) .', '1996 sop the 1996 sop was adopted by the company on october 29 , 1996 , for its employees .', 'terms and vesting periods .'] | 6250.0 | JKHY/2010/page_50.pdf-1 | ['48 2022 2010 annual report as part of the acquisition of gfsi , we acquired gross net operating loss ( 201cnol 201d ) carry forwards of $ 64431 ; of which , only $ 34592 are expected to be utilized due to the application of irc section 382 .', 'separately , as of june 30 , 2010 , we had state nol carry forwards of $ 838 .', 'these losses have varying expiration dates , ranging from 2012 to 2029 .', 'based on state tax rules which restrict our usage of these losses , we believe it is more likely than not that $ 306 of these losses will expire unutilized .', 'accordingly , a valuation allowance of $ 306 has been recorded against these assets as of june 30 , 2010 .', 'the company paid income taxes of $ 42116 , $ 62965 , and $ 51709 in 2010 , 2009 , and 2008 , respectively .', 'at june 30 , 2009 , the company had $ 5518 of unrecognized tax benefits .', 'at june 30 , 2010 , the company had $ 7187 of unrecognized tax benefits , of which , $ 4989 , if recognized , would affect our effective tax rate .', 'we had accrued interest and penalties of $ 890 and $ 732 related to uncertain tax positions at june 30 , 2010 and 2009 , respectively .', 'a reconciliation of the unrecognized tax benefits for the years ended june 30 , 2010 and 2009 follows : unrecognized tax benefits .'] | ['during the fiscal year ended june 30 , 2010 , the internal revenue service commenced an examination of the company 2019s u.s .', 'federal income tax returns for fiscal years ended june 2008 through 2009 .', 'the u.s .', 'federal and state income tax returns for june 30 , 2007 and all subsequent years still remain subject to examination as of june 30 , 2010 under statute of limitations rules .', 'we anticipate potential changes resulting from the expiration of statutes of limitations of up to $ 965 could reduce the unrecognized tax benefits balance within twelve months of june 30 , note 8 : industry and supplier concentrations the company sells its products to banks , credit unions , and financial institutions throughout the united states and generally does not require collateral .', 'all billings to customers are due 30 days from date of billing .', 'reserves ( which are insignificant at june 30 , 2010 , 2009 and 2008 ) are maintained for potential credit losses .', 'in addition , the company purchases most of its computer hardware and related maintenance for resale in relation to installation of jha software systems from two suppliers .', 'there are a limited number of hardware suppliers for these required items .', 'if these relationships were terminated , it could have a significant negative impact on the future operations of the company .', 'note 9 : stock based compensation plans the company previously issued options to employees under the 1996 stock option plan ( 201c1996 sop 201d ) and currently issues options to outside directors under the 2005 non-qualified stock option plan ( 201c2005 nsop 201d ) .', '1996 sop the 1996 sop was adopted by the company on october 29 , 1996 , for its employees .', 'terms and vesting periods .'] | ****************************************
| unrecognized tax benefits
balance at july 1 2008 | $ 4055
additions for current year tax positions | 1044
additions for prior year tax positions | 2052
reductions for prior year tax positions | -110 ( 110 )
settlements | -936 ( 936 )
reductions related to expirations of statute of limitations | -587 ( 587 )
balance at june 30 2009 | 5518
additions for current year tax positions | 691
reductions for current year tax positions | -39 ( 39 )
additions for prior year tax positions | 2049
reductions for prior year tax positions | -298 ( 298 )
settlements | -
reductions related to expirations of statute of limitations | -734 ( 734 )
balance at june 30 2010 | $ 7187
**************************************** | add(5518, 732) | 6250.0 |
as of december 31 , 2017 , are future lease commitments greater than purchase commitments for contract manufacturers and suppliers? | Background: ['as of december 31 , 2017 , the future minimum payments due under the lease financing obligation were as follows ( in thousands ) : years ending december 31 .']
Table:
----------------------------------------
2018 | $ 6113
----------|----------
2019 | 6293
2020 | 6477
2021 | 6674
2022 | 6871
thereafter | 5264
total payments | 37692
less : interest and land lease expense | -21730 ( 21730 )
total payments under facility financing obligations | 15962
property reverting to landlord | 23630
present value of obligation | 39592
less : current portion | -1919 ( 1919 )
lease financing obligations non-current | $ 37673
----------------------------------------
Additional Information: ['purchase commitments we outsource most of our manufacturing and supply chain management operations to third-party contract manufacturers , who procure components and assemble products on our behalf based on our forecasts in order to reduce manufacturing lead times and ensure adequate component supply .', 'we issue purchase orders to our contract manufacturers for finished product and a significant portion of these orders consist of firm non-cancellable commitments .', 'in addition , we purchase strategic component inventory from certain suppliers under purchase commitments that in some cases are non-cancellable , including integrated circuits , which are consigned to our contract manufacturers .', 'as of december 31 , 2017 , we had non-cancellable purchase commitments of $ 195.1 million , of which $ 147.9 million was to our contract manufacturers and suppliers .', 'in addition , we have provided deposits to secure our obligations to purchase inventory .', 'we had $ 36.9 million and $ 63.1 million in deposits as of december 31 , 2017 and 2016 , respectively .', "these deposits are classified in 'prepaid expenses and other current assets' and 'other assets' in our accompanying consolidated balance sheets .", 'guarantees we have entered into agreements with some of our direct customers and channel partners that contain indemnification provisions relating to potential situations where claims could be alleged that our products infringe the intellectual property rights of a third party .', 'we have at our option and expense the ability to repair any infringement , replace product with a non-infringing equivalent-in-function product or refund our customers all or a portion of the value of the product .', 'other guarantees or indemnification agreements include guarantees of product and service performance and standby letters of credit for leased facilities and corporate credit cards .', 'we have not recorded a liability related to these indemnification and guarantee provisions and our guarantee and indemnification arrangements have not had any significant impact on our consolidated financial statements to date .', 'legal proceedings optumsoft , inc .', 'matters on april 4 , 2014 , optumsoft filed a lawsuit against us in the superior court of california , santa clara county titled optumsoft , inc .', 'v .', 'arista networks , inc. , in which it asserts ( i ) ownership of certain components of our eos network operating system pursuant to the terms of a 2004 agreement between the companies ; and ( ii ) breaches of certain confidentiality and use restrictions in that agreement .', 'under the terms of the 2004 agreement , optumsoft provided us with a non-exclusive , irrevocable , royalty-free license to software delivered by optumsoft comprising a software tool used to develop certain components of eos and a runtime library that is incorporated .'] | no | ANET/2017/page_157.pdf-2 | ['as of december 31 , 2017 , the future minimum payments due under the lease financing obligation were as follows ( in thousands ) : years ending december 31 .'] | ['purchase commitments we outsource most of our manufacturing and supply chain management operations to third-party contract manufacturers , who procure components and assemble products on our behalf based on our forecasts in order to reduce manufacturing lead times and ensure adequate component supply .', 'we issue purchase orders to our contract manufacturers for finished product and a significant portion of these orders consist of firm non-cancellable commitments .', 'in addition , we purchase strategic component inventory from certain suppliers under purchase commitments that in some cases are non-cancellable , including integrated circuits , which are consigned to our contract manufacturers .', 'as of december 31 , 2017 , we had non-cancellable purchase commitments of $ 195.1 million , of which $ 147.9 million was to our contract manufacturers and suppliers .', 'in addition , we have provided deposits to secure our obligations to purchase inventory .', 'we had $ 36.9 million and $ 63.1 million in deposits as of december 31 , 2017 and 2016 , respectively .', "these deposits are classified in 'prepaid expenses and other current assets' and 'other assets' in our accompanying consolidated balance sheets .", 'guarantees we have entered into agreements with some of our direct customers and channel partners that contain indemnification provisions relating to potential situations where claims could be alleged that our products infringe the intellectual property rights of a third party .', 'we have at our option and expense the ability to repair any infringement , replace product with a non-infringing equivalent-in-function product or refund our customers all or a portion of the value of the product .', 'other guarantees or indemnification agreements include guarantees of product and service performance and standby letters of credit for leased facilities and corporate credit cards .', 'we have not recorded a liability related to these indemnification and guarantee provisions and our guarantee and indemnification arrangements have not had any significant impact on our consolidated financial statements to date .', 'legal proceedings optumsoft , inc .', 'matters on april 4 , 2014 , optumsoft filed a lawsuit against us in the superior court of california , santa clara county titled optumsoft , inc .', 'v .', 'arista networks , inc. , in which it asserts ( i ) ownership of certain components of our eos network operating system pursuant to the terms of a 2004 agreement between the companies ; and ( ii ) breaches of certain confidentiality and use restrictions in that agreement .', 'under the terms of the 2004 agreement , optumsoft provided us with a non-exclusive , irrevocable , royalty-free license to software delivered by optumsoft comprising a software tool used to develop certain components of eos and a runtime library that is incorporated .'] | ----------------------------------------
2018 | $ 6113
----------|----------
2019 | 6293
2020 | 6477
2021 | 6674
2022 | 6871
thereafter | 5264
total payments | 37692
less : interest and land lease expense | -21730 ( 21730 )
total payments under facility financing obligations | 15962
property reverting to landlord | 23630
present value of obligation | 39592
less : current portion | -1919 ( 1919 )
lease financing obligations non-current | $ 37673
---------------------------------------- | divide(147.9, const_1000), greater(#0, 37692) | no |
in 2010 what was the percent of the increase in the total shareholders 2019 equity primarily due net income | Pre-text: ['the following table reports the significant movements in our shareholders 2019 equity for the year ended december 31 , 2010. .']
####
Data Table:
****************************************
Row 1: ( in millions of u.s . dollars ), 2010
Row 2: balance beginning of year, $ 19667
Row 3: net income, 3108
Row 4: dividends declared on common shares, -443 ( 443 )
Row 5: change in net unrealized appreciation ( depreciation ) on investments net of tax, 742
Row 6: repurchase of shares, -303 ( 303 )
Row 7: other movements net of tax, 203
Row 8: balance end of year, $ 22974
****************************************
####
Follow-up: ['total shareholders 2019 equity increased $ 3.3 billion in 2010 , primarily due to net income of $ 3.1 billion and the change in net unrealized appreciation on investments of $ 742 million .', 'short-term debt at december 31 , 2010 , in connection with the financing of the rain and hail acquisition , short-term debt includes reverse repurchase agreements totaling $ 1 billion .', 'in addition , $ 300 million in borrowings against ace 2019s revolving credit facility were outstanding at december 31 , 2010 .', 'at december 31 , 2009 , short-term debt consisted of a five-year term loan which we repaid in december 2010 .', 'long-term debt our total long-term debt increased by $ 200 million during the year to $ 3.4 billion and is described in detail in note 9 to the consolidated financial statements , under item 8 .', 'in november 2010 , ace ina issued $ 700 million of 2.6 percent senior notes due november 2015 .', 'these senior unsecured notes are guaranteed on a senior basis by the company and they rank equally with all of the company 2019s other senior obligations .', 'in april 2008 , as part of the financing of the combined insurance acquisition , ace ina entered into a $ 450 million float- ing interest rate syndicated term loan agreement due april 2013 .', 'simultaneously , the company entered into a swap transaction that had the economic effect of fixing the interest rate for the term of the loan .', 'in december 2010 , ace repaid this loan and exited the swap .', 'in december 2008 , ace ina entered into a $ 66 million dual tranche floating interest rate term loan agreement .', 'the first tranche , a $ 50 million three-year term loan due december 2011 , had a floating interest rate .', 'simultaneously , the company entered into a swap transaction that had the economic effect of fixing the interest rate for the term of the loan .', 'in december 2010 , ace repaid this loan and exited the swap .', 'the second tranche , a $ 16 million nine-month term loan , was due and repaid in september 2009 .', 'trust preferred securities the securities outstanding consist of $ 300 million of trust preferred securities due 2030 , issued by a special purpose entity ( a trust ) that is wholly owned by us .', 'the sole assets of the special purpose entity are debt instruments issued by one or more of our subsidiaries .', 'the special purpose entity looks to payments on the debt instruments to make payments on the preferred securities .', 'we have guaranteed the payments on these debt instruments .', 'the trustees of the trust include one or more of our officers and at least one independent trustee , such as a trust company .', 'our officers serving as trustees of the trust do not receive any compensation or other remuneration for their services in such capacity .', 'the full $ 309 million of outstanding trust preferred securities ( calculated as $ 300 million as discussed above plus our equity share of the trust ) is shown on our con- solidated balance sheet as a liability .', 'additional information with respect to the trust preferred securities is contained in note 9 d ) to the consolidated financial statements , under item 8 .', 'common shares our common shares had a par value of chf 30.57 each at december 31 , 2010 .', 'at the annual general meeting held in may 2010 , the company 2019s shareholders approved a par value reduction in an aggregate swiss franc amount , pursuant to a formula , equal to $ 1.32 per share , which we refer to as the base annual divi- dend .', 'the base annual dividend is payable in four installments , provided that each of the swiss franc installments will be .'] | 0.93939 | CB/2010/page_114.pdf-2 | ['the following table reports the significant movements in our shareholders 2019 equity for the year ended december 31 , 2010. .'] | ['total shareholders 2019 equity increased $ 3.3 billion in 2010 , primarily due to net income of $ 3.1 billion and the change in net unrealized appreciation on investments of $ 742 million .', 'short-term debt at december 31 , 2010 , in connection with the financing of the rain and hail acquisition , short-term debt includes reverse repurchase agreements totaling $ 1 billion .', 'in addition , $ 300 million in borrowings against ace 2019s revolving credit facility were outstanding at december 31 , 2010 .', 'at december 31 , 2009 , short-term debt consisted of a five-year term loan which we repaid in december 2010 .', 'long-term debt our total long-term debt increased by $ 200 million during the year to $ 3.4 billion and is described in detail in note 9 to the consolidated financial statements , under item 8 .', 'in november 2010 , ace ina issued $ 700 million of 2.6 percent senior notes due november 2015 .', 'these senior unsecured notes are guaranteed on a senior basis by the company and they rank equally with all of the company 2019s other senior obligations .', 'in april 2008 , as part of the financing of the combined insurance acquisition , ace ina entered into a $ 450 million float- ing interest rate syndicated term loan agreement due april 2013 .', 'simultaneously , the company entered into a swap transaction that had the economic effect of fixing the interest rate for the term of the loan .', 'in december 2010 , ace repaid this loan and exited the swap .', 'in december 2008 , ace ina entered into a $ 66 million dual tranche floating interest rate term loan agreement .', 'the first tranche , a $ 50 million three-year term loan due december 2011 , had a floating interest rate .', 'simultaneously , the company entered into a swap transaction that had the economic effect of fixing the interest rate for the term of the loan .', 'in december 2010 , ace repaid this loan and exited the swap .', 'the second tranche , a $ 16 million nine-month term loan , was due and repaid in september 2009 .', 'trust preferred securities the securities outstanding consist of $ 300 million of trust preferred securities due 2030 , issued by a special purpose entity ( a trust ) that is wholly owned by us .', 'the sole assets of the special purpose entity are debt instruments issued by one or more of our subsidiaries .', 'the special purpose entity looks to payments on the debt instruments to make payments on the preferred securities .', 'we have guaranteed the payments on these debt instruments .', 'the trustees of the trust include one or more of our officers and at least one independent trustee , such as a trust company .', 'our officers serving as trustees of the trust do not receive any compensation or other remuneration for their services in such capacity .', 'the full $ 309 million of outstanding trust preferred securities ( calculated as $ 300 million as discussed above plus our equity share of the trust ) is shown on our con- solidated balance sheet as a liability .', 'additional information with respect to the trust preferred securities is contained in note 9 d ) to the consolidated financial statements , under item 8 .', 'common shares our common shares had a par value of chf 30.57 each at december 31 , 2010 .', 'at the annual general meeting held in may 2010 , the company 2019s shareholders approved a par value reduction in an aggregate swiss franc amount , pursuant to a formula , equal to $ 1.32 per share , which we refer to as the base annual divi- dend .', 'the base annual dividend is payable in four installments , provided that each of the swiss franc installments will be .'] | ****************************************
Row 1: ( in millions of u.s . dollars ), 2010
Row 2: balance beginning of year, $ 19667
Row 3: net income, 3108
Row 4: dividends declared on common shares, -443 ( 443 )
Row 5: change in net unrealized appreciation ( depreciation ) on investments net of tax, 742
Row 6: repurchase of shares, -303 ( 303 )
Row 7: other movements net of tax, 203
Row 8: balance end of year, $ 22974
**************************************** | divide(3.1, 3.3) | 0.93939 |
what is the total value of fixed maturities and cash as of december 31 , 2015 , in billions? | Pre-text: ['the company had net realized capital losses for 2015 of $ 184.1 million .', 'in 2015 , the company recorded $ 102.2 million of other-than-temporary impairments on fixed maturity securities , $ 45.6 million of losses due to fair value re-measurements and $ 36.3 million of net realized capital losses from sales of fixed maturity and equity securities .', 'in 2014 , net realized capital gains were $ 84.0 million due to $ 121.7 million of gains from fair value re-measurements on fixed maturity and equity securities and $ 1.9 million of net realized capital gains from sales of fixed maturity and equity securities , partially offset by $ 39.5 million of other-than- temporary impairments on fixed maturity securities .', 'in 2013 , net realized capital gains were $ 300.2 million due to $ 258.9 million of gains due to fair value re-measurements on fixed maturity and equity securities and $ 42.4 million of net realized capital gains from sales of fixed maturity and equity securities , partially offset by $ 1.1 million of other-than-temporary impairments on fixed maturity securities .', 'the company 2019s cash and invested assets totaled $ 17.7 billion at december 31 , 2015 , which consisted of 87.4% ( 87.4 % ) fixed maturities and cash , of which 91.4% ( 91.4 % ) were investment grade ; 8.2% ( 8.2 % ) equity securities and 4.4% ( 4.4 % ) other invested assets .', 'the average maturity of fixed maturity securities was 4.1 years at december 31 , 2015 , and their overall duration was 3.0 years .', 'as of december 31 , 2015 , the company did not have any direct investments in commercial real estate or direct commercial mortgages or any material holdings of derivative investments ( other than equity index put option contracts as discussed in item 8 , 201cfinancial statements and supplementary data 201d - note 4 of notes to consolidated financial statements ) or securities of issuers that are experiencing cash flow difficulty to an extent that the company 2019s management believes could threaten the issuer 2019s ability to meet debt service payments , except where other-than-temporary impairments have been recognized .', 'the company 2019s investment portfolio includes structured commercial mortgage-backed securities ( 201ccmbs 201d ) with a book value of $ 264.9 million and a market value of $ 266.3 million .', 'cmbs securities comprising more than 70% ( 70 % ) of the december 31 , 2015 market value are rated aaa by standard & poor 2019s financial services llc ( 201cstandard & poor 2019s 201d ) .', 'furthermore , securities comprising more than 90% ( 90 % ) of the market value are rated investment grade by standard & poor 2019s .', 'the following table reflects investment results for the company for the periods indicated: .']
Tabular Data:
----------------------------------------
( dollars in millions ) december 31 , average investments ( 1 ) december 31 , pre-tax investment income ( 2 ) december 31 , pre-tax effective yield december 31 , pre-tax realized net capital ( losses ) gains ( 3 ) december 31 , pre-tax unrealized net capital gains ( losses )
2015 $ 17430.8 $ 473.8 2.72% ( 2.72 % ) $ -184.1 ( 184.1 ) $ -194.0 ( 194.0 )
2014 16831.9 530.6 3.15% ( 3.15 % ) 84.0 20.3
2013 16472.5 548.5 3.33% ( 3.33 % ) 300.2 -467.2 ( 467.2 )
2012 16220.9 600.2 3.70% ( 3.70 % ) 164.4 161.0
2011 15680.9 620.0 3.95% ( 3.95 % ) 6.9 106.6
----------------------------------------
Follow-up: ['pre-tax pre-tax pre-tax pre-tax realized net unrealized net average investment effective capital ( losses ) capital gains ( dollars in millions ) investments ( 1 ) income ( 2 ) yield gains ( 3 ) ( losses ) 17430.8$ 473.8$ 2.72% ( 2.72 % ) ( 184.1 ) $ ( 194.0 ) $ 16831.9 530.6 3.15% ( 3.15 % ) 84.0 20.3 16472.5 548.5 3.33% ( 3.33 % ) 300.2 ( 467.2 ) 16220.9 600.2 3.70% ( 3.70 % ) 164.4 161.0 15680.9 620.0 3.95% ( 3.95 % ) 6.9 106.6 ( 1 ) average of the beginning and ending carrying values of investments and cash , less net funds held , future policy benefit reserve , and non-interest bearing cash .', 'bonds , common stock and redeemable and non-redeemable preferred stocks are carried at market value .', 'common stock which are actively managed are carried at fair value .', '( 2 ) after investment expenses , excluding realized net capital gains ( losses ) .', '( 3 ) included in 2015 , 2014 , 2013 , 2012 and 2011 are fair value re-measurements of ( $ 45.6 ) million , $ 121.7 million , $ 258.9 million , $ 118.1 million and ( $ 4.4 ) million , respectively. .'] | 15.4698 | RE/2015/page_33.pdf-3 | ['the company had net realized capital losses for 2015 of $ 184.1 million .', 'in 2015 , the company recorded $ 102.2 million of other-than-temporary impairments on fixed maturity securities , $ 45.6 million of losses due to fair value re-measurements and $ 36.3 million of net realized capital losses from sales of fixed maturity and equity securities .', 'in 2014 , net realized capital gains were $ 84.0 million due to $ 121.7 million of gains from fair value re-measurements on fixed maturity and equity securities and $ 1.9 million of net realized capital gains from sales of fixed maturity and equity securities , partially offset by $ 39.5 million of other-than- temporary impairments on fixed maturity securities .', 'in 2013 , net realized capital gains were $ 300.2 million due to $ 258.9 million of gains due to fair value re-measurements on fixed maturity and equity securities and $ 42.4 million of net realized capital gains from sales of fixed maturity and equity securities , partially offset by $ 1.1 million of other-than-temporary impairments on fixed maturity securities .', 'the company 2019s cash and invested assets totaled $ 17.7 billion at december 31 , 2015 , which consisted of 87.4% ( 87.4 % ) fixed maturities and cash , of which 91.4% ( 91.4 % ) were investment grade ; 8.2% ( 8.2 % ) equity securities and 4.4% ( 4.4 % ) other invested assets .', 'the average maturity of fixed maturity securities was 4.1 years at december 31 , 2015 , and their overall duration was 3.0 years .', 'as of december 31 , 2015 , the company did not have any direct investments in commercial real estate or direct commercial mortgages or any material holdings of derivative investments ( other than equity index put option contracts as discussed in item 8 , 201cfinancial statements and supplementary data 201d - note 4 of notes to consolidated financial statements ) or securities of issuers that are experiencing cash flow difficulty to an extent that the company 2019s management believes could threaten the issuer 2019s ability to meet debt service payments , except where other-than-temporary impairments have been recognized .', 'the company 2019s investment portfolio includes structured commercial mortgage-backed securities ( 201ccmbs 201d ) with a book value of $ 264.9 million and a market value of $ 266.3 million .', 'cmbs securities comprising more than 70% ( 70 % ) of the december 31 , 2015 market value are rated aaa by standard & poor 2019s financial services llc ( 201cstandard & poor 2019s 201d ) .', 'furthermore , securities comprising more than 90% ( 90 % ) of the market value are rated investment grade by standard & poor 2019s .', 'the following table reflects investment results for the company for the periods indicated: .'] | ['pre-tax pre-tax pre-tax pre-tax realized net unrealized net average investment effective capital ( losses ) capital gains ( dollars in millions ) investments ( 1 ) income ( 2 ) yield gains ( 3 ) ( losses ) 17430.8$ 473.8$ 2.72% ( 2.72 % ) ( 184.1 ) $ ( 194.0 ) $ 16831.9 530.6 3.15% ( 3.15 % ) 84.0 20.3 16472.5 548.5 3.33% ( 3.33 % ) 300.2 ( 467.2 ) 16220.9 600.2 3.70% ( 3.70 % ) 164.4 161.0 15680.9 620.0 3.95% ( 3.95 % ) 6.9 106.6 ( 1 ) average of the beginning and ending carrying values of investments and cash , less net funds held , future policy benefit reserve , and non-interest bearing cash .', 'bonds , common stock and redeemable and non-redeemable preferred stocks are carried at market value .', 'common stock which are actively managed are carried at fair value .', '( 2 ) after investment expenses , excluding realized net capital gains ( losses ) .', '( 3 ) included in 2015 , 2014 , 2013 , 2012 and 2011 are fair value re-measurements of ( $ 45.6 ) million , $ 121.7 million , $ 258.9 million , $ 118.1 million and ( $ 4.4 ) million , respectively. .'] | ----------------------------------------
( dollars in millions ) december 31 , average investments ( 1 ) december 31 , pre-tax investment income ( 2 ) december 31 , pre-tax effective yield december 31 , pre-tax realized net capital ( losses ) gains ( 3 ) december 31 , pre-tax unrealized net capital gains ( losses )
2015 $ 17430.8 $ 473.8 2.72% ( 2.72 % ) $ -184.1 ( 184.1 ) $ -194.0 ( 194.0 )
2014 16831.9 530.6 3.15% ( 3.15 % ) 84.0 20.3
2013 16472.5 548.5 3.33% ( 3.33 % ) 300.2 -467.2 ( 467.2 )
2012 16220.9 600.2 3.70% ( 3.70 % ) 164.4 161.0
2011 15680.9 620.0 3.95% ( 3.95 % ) 6.9 106.6
---------------------------------------- | multiply(17.7, 87.4%) | 15.4698 |
what is the growth rate in operating profit for mfc in 2014? | Background: ['is&gs 2019 operating profit decreased $ 60 million , or 8% ( 8 % ) , for 2014 compared to 2013 .', 'the decrease was primarily attributable to the activities mentioned above for sales , lower risk retirements and reserves recorded on an international program , partially offset by severance recoveries related to the restructuring announced in november 2013 of approximately $ 20 million for 2014 .', 'adjustments not related to volume , including net profit booking rate adjustments , were approximately $ 30 million lower for 2014 compared to 2013 .', '2013 compared to 2012 is&gs 2019 net sales decreased $ 479 million , or 5% ( 5 % ) , for 2013 compared to 2012 .', 'the decrease was attributable to lower net sales of about $ 495 million due to decreased volume on various programs ( command and control programs for classified customers , ngi and eram programs ) ; and approximately $ 320 million due to the completion of certain programs ( such as total information processing support services , the transportation worker identification credential and the outsourcing desktop initiative for nasa ) .', 'the decrease was partially offset by higher net sales of about $ 340 million due to the start-up of certain programs ( such as the disa gsm-o and the national science foundation antarctic support ) .', 'is&gs 2019 operating profit decreased $ 49 million , or 6% ( 6 % ) , for 2013 compared to 2012 .', 'the decrease was primarily attributable to lower operating profit of about $ 55 million due to certain programs nearing the end of their life cycles , partially offset by higher operating profit of approximately $ 15 million due to the start-up of certain programs .', 'adjustments not related to volume , including net profit booking rate adjustments and other matters , were comparable for 2013 compared to 2012 .', 'backlog backlog increased in 2014 compared to 2013 primarily due to several multi-year international awards and various u.s .', 'multi-year extensions .', 'this increase was partially offset by declining activities on various direct warfighter support and command and control programs impacted by defense budget reductions .', 'backlog decreased in 2013 compared to 2012 primarily due to lower orders on several programs ( such as eram and ngi ) , higher sales on certain programs ( the national science foundation antarctic support and the disa gsm-o ) and declining activities on several smaller programs primarily due to the continued downturn in federal information technology budgets .', 'trends we expect is&gs 2019 net sales to decline in 2015 in the low to mid single digit percentage range as compared to 2014 , primarily driven by the continued downturn in federal information technology budgets , an increasingly competitive environment , including the disaggregation of existing contracts , and new contract award delays , partially offset by increased sales resulting from acquisitions that occurred during the year .', 'operating profit is expected to decline in the low double digit percentage range in 2015 primarily driven by volume and an increase in intangible amortization from 2014 acquisition activity , resulting in 2015 margins that are lower than 2014 results .', 'missiles and fire control our mfc business segment provides air and missile defense systems ; tactical missiles and air-to-ground precision strike weapon systems ; logistics and other technical services ; fire control systems ; mission operations support , readiness , engineering support and integration services ; and manned and unmanned ground vehicles .', 'mfc 2019s major programs include pac-3 , thaad , multiple launch rocket system , hellfire , jassm , javelin , apache , sniper ae , low altitude navigation and targeting infrared for night ( lantirn ae ) and sof clss .', 'mfc 2019s operating results included the following ( in millions ) : .']
Tabular Data:
| 2014 | 2013 | 2012
net sales | $ 7680 | $ 7757 | $ 7457
operating profit | 1358 | 1431 | 1256
operating margins | 17.7% ( 17.7 % ) | 18.4% ( 18.4 % ) | 16.8% ( 16.8 % )
backlog at year-end | $ 13600 | $ 15000 | $ 14700
Additional Information: ['2014 compared to 2013 mfc 2019s net sales for 2014 decreased $ 77 million , or 1% ( 1 % ) , compared to 2013 .', 'the decrease was primarily attributable to lower net sales of approximately $ 385 million for technical services programs due to decreased volume reflecting market pressures ; and about $ 115 million for tactical missile programs due to fewer deliveries ( primarily high mobility artillery .'] | -0.05101 | LMT/2014/page_47.pdf-3 | ['is&gs 2019 operating profit decreased $ 60 million , or 8% ( 8 % ) , for 2014 compared to 2013 .', 'the decrease was primarily attributable to the activities mentioned above for sales , lower risk retirements and reserves recorded on an international program , partially offset by severance recoveries related to the restructuring announced in november 2013 of approximately $ 20 million for 2014 .', 'adjustments not related to volume , including net profit booking rate adjustments , were approximately $ 30 million lower for 2014 compared to 2013 .', '2013 compared to 2012 is&gs 2019 net sales decreased $ 479 million , or 5% ( 5 % ) , for 2013 compared to 2012 .', 'the decrease was attributable to lower net sales of about $ 495 million due to decreased volume on various programs ( command and control programs for classified customers , ngi and eram programs ) ; and approximately $ 320 million due to the completion of certain programs ( such as total information processing support services , the transportation worker identification credential and the outsourcing desktop initiative for nasa ) .', 'the decrease was partially offset by higher net sales of about $ 340 million due to the start-up of certain programs ( such as the disa gsm-o and the national science foundation antarctic support ) .', 'is&gs 2019 operating profit decreased $ 49 million , or 6% ( 6 % ) , for 2013 compared to 2012 .', 'the decrease was primarily attributable to lower operating profit of about $ 55 million due to certain programs nearing the end of their life cycles , partially offset by higher operating profit of approximately $ 15 million due to the start-up of certain programs .', 'adjustments not related to volume , including net profit booking rate adjustments and other matters , were comparable for 2013 compared to 2012 .', 'backlog backlog increased in 2014 compared to 2013 primarily due to several multi-year international awards and various u.s .', 'multi-year extensions .', 'this increase was partially offset by declining activities on various direct warfighter support and command and control programs impacted by defense budget reductions .', 'backlog decreased in 2013 compared to 2012 primarily due to lower orders on several programs ( such as eram and ngi ) , higher sales on certain programs ( the national science foundation antarctic support and the disa gsm-o ) and declining activities on several smaller programs primarily due to the continued downturn in federal information technology budgets .', 'trends we expect is&gs 2019 net sales to decline in 2015 in the low to mid single digit percentage range as compared to 2014 , primarily driven by the continued downturn in federal information technology budgets , an increasingly competitive environment , including the disaggregation of existing contracts , and new contract award delays , partially offset by increased sales resulting from acquisitions that occurred during the year .', 'operating profit is expected to decline in the low double digit percentage range in 2015 primarily driven by volume and an increase in intangible amortization from 2014 acquisition activity , resulting in 2015 margins that are lower than 2014 results .', 'missiles and fire control our mfc business segment provides air and missile defense systems ; tactical missiles and air-to-ground precision strike weapon systems ; logistics and other technical services ; fire control systems ; mission operations support , readiness , engineering support and integration services ; and manned and unmanned ground vehicles .', 'mfc 2019s major programs include pac-3 , thaad , multiple launch rocket system , hellfire , jassm , javelin , apache , sniper ae , low altitude navigation and targeting infrared for night ( lantirn ae ) and sof clss .', 'mfc 2019s operating results included the following ( in millions ) : .'] | ['2014 compared to 2013 mfc 2019s net sales for 2014 decreased $ 77 million , or 1% ( 1 % ) , compared to 2013 .', 'the decrease was primarily attributable to lower net sales of approximately $ 385 million for technical services programs due to decreased volume reflecting market pressures ; and about $ 115 million for tactical missile programs due to fewer deliveries ( primarily high mobility artillery .'] | | 2014 | 2013 | 2012
net sales | $ 7680 | $ 7757 | $ 7457
operating profit | 1358 | 1431 | 1256
operating margins | 17.7% ( 17.7 % ) | 18.4% ( 18.4 % ) | 16.8% ( 16.8 % )
backlog at year-end | $ 13600 | $ 15000 | $ 14700 | subtract(1358, 1431), divide(#0, 1431) | -0.05101 |
what was the change in cumulative total return for the s&p a9500 between 2003 and 2004? | Pre-text: ['table of contents company stock performance the following graph shows a five-year comparison of cumulative total shareholder return , calculated on a dividend reinvested basis , for the company , the s&p 500 composite index ( the 201cs&p 500 201d ) and the s&p computers ( hardware ) index ( the 201cindustry index 201d ) .', 'the graph assumes $ 100 was invested in each of the company 2019s common stock , the s&p 500 , and the industry index on september 30 , 2003 .', 'data points on the graph are annual .', 'note that historic stock price performance is not necessarily indicative of future stock price performance .', 'copyright a9 2008 , standard & poor 2019s , a division of the mcgraw-hill companies , inc .', 'all rights reserved. .']
----
Data Table:
----------------------------------------
, sep-03, sep-04, sep-05, sep-06, sep-07, sep-08
apple inc ., $ 100, $ 187, $ 517, $ 743, $ 1481, $ 1097
s&p a9500, $ 100, $ 114, $ 128, $ 142, $ 165, $ 129
s&p a9computer hardware, $ 100, $ 104, $ 119, $ 128, $ 188, $ 158
----------------------------------------
----
Follow-up: ['s&p a9 500 $ 100 $ 114 $ 128 $ 142 $ 165 $ 129 s&p a9 computer hardware $ 100 $ 104 $ 119 $ 128 $ 188 $ 158 .'] | -14.0 | AAPL/2008/page_38.pdf-2 | ['table of contents company stock performance the following graph shows a five-year comparison of cumulative total shareholder return , calculated on a dividend reinvested basis , for the company , the s&p 500 composite index ( the 201cs&p 500 201d ) and the s&p computers ( hardware ) index ( the 201cindustry index 201d ) .', 'the graph assumes $ 100 was invested in each of the company 2019s common stock , the s&p 500 , and the industry index on september 30 , 2003 .', 'data points on the graph are annual .', 'note that historic stock price performance is not necessarily indicative of future stock price performance .', 'copyright a9 2008 , standard & poor 2019s , a division of the mcgraw-hill companies , inc .', 'all rights reserved. .'] | ['s&p a9 500 $ 100 $ 114 $ 128 $ 142 $ 165 $ 129 s&p a9 computer hardware $ 100 $ 104 $ 119 $ 128 $ 188 $ 158 .'] | ----------------------------------------
, sep-03, sep-04, sep-05, sep-06, sep-07, sep-08
apple inc ., $ 100, $ 187, $ 517, $ 743, $ 1481, $ 1097
s&p a9500, $ 100, $ 114, $ 128, $ 142, $ 165, $ 129
s&p a9computer hardware, $ 100, $ 104, $ 119, $ 128, $ 188, $ 158
---------------------------------------- | subtract(const_100, 114) | -14.0 |
what was the greatest interest income , in millions , for the three year period? | Context: ['table of contents related to mac os x version 10.6 snow leopard and excluded from r&d expense , while r&d expense for 2007 excluded $ 75 million of capitalized software development costs related to mac os x leopard and iphone .', 'although total r&d expense increased 42% ( 42 % ) during 2008 , it remained relatively flat as a percentage of net sales given the 35% ( 35 % ) increase in revenue during 2008 .', 'the company continues to believe that focused investments in r&d are critical to its future growth and competitive position in the marketplace and are directly related to timely development of new and enhanced products that are central to the company 2019s core business strategy .', 'as such , the company expects to increase spending in r&d to remain competitive .', 'expenditures for r&d increased 10% ( 10 % ) or $ 70 million to $ 782 million in 2007 compared to 2006 .', 'the increases in r&d expense were due primarily to an increase in r&d headcount in 2007 to support expanded r&d activities , partially offset by one less week of expenses in the first quarter of 2007 and the capitalized software development costs mentioned above .', 'selling , general , and administrative expense ( 201csg&a 201d ) expenditures for sg&a increased $ 798 million or 27% ( 27 % ) to $ 3.8 billion in 2008 compared to 2007 .', 'these increases are due primarily to higher stock-based compensation expenses , higher variable selling expenses resulting from the significant year-over-year increase in total net sales and the company 2019s continued expansion of its retail segment in both domestic and international markets .', 'in addition , the company incurred higher spending on marketing and advertising during 2008 compared to 2007 .', 'expenditures for sg&a increased $ 530 million or 22% ( 22 % ) during 2007 compared to 2006 .', 'the increase was due primarily to higher direct and indirect channel variable selling expenses resulting from the significant year-over-year increase in total net sales in 2007 , the company 2019s continued expansion of its retail segment in both domestic and international markets , and higher spending on marketing and advertising , partially offset by one less week of expenses in the first quarter of 2007 .', 'other income and expense other income and expense for the three fiscal years ended september 27 , 2008 , are as follows ( in millions ) : total other income and expense increased $ 21 million to $ 620 million during 2008 as compared to $ 599 million and $ 365 million in 2007 and 2006 , respectively .', 'while the company 2019s cash , cash equivalents and short-term investment balances increased by 59% ( 59 % ) in 2008 , other income and expense increased only 4% ( 4 % ) due to the decline in the weighted average interest rate earned of 3.44% ( 3.44 % ) .', 'the overall increase in other income and expense is attributable to the company 2019s higher cash and short-term investment balances , which more than offset the decline in interest rates during 2008 as compared to 2007 .', 'the weighted average interest rate earned by the company on its cash , cash equivalents , and short-term investments was 5.27% ( 5.27 % ) and 4.58% ( 4.58 % ) during 2007 and 2006 , respectively .', 'during 2008 , 2007 and 2006 , the company had no debt outstanding and accordingly did not incur any related interest expense .', 'provision for income taxes the company 2019s effective tax rates were 30% ( 30 % ) for the years ended september 27 , 2008 and september 29 , 2007 , and 29% ( 29 % ) for the year ended september 30 , 2006 .', 'the company 2019s effective rates differ from the statutory federal income tax rate of 35% ( 35 % ) due primarily to certain undistributed foreign earnings for which no u.s .', 'taxes are provided because such earnings are intended to be indefinitely reinvested outside the as of september 27 , 2008 , the company had deferred tax assets arising from deductible temporary differences , tax losses , and tax credits of $ 2.1 billion before being offset against certain deferred liabilities for presentation on the company 2019s balance sheet .', 'management believes it is more likely than not that forecasted income , including .']
Table:
****************************************
Row 1: , 2008, 2007, 2006
Row 2: interest income, $ 653, $ 647, $ 394
Row 3: other income ( expense ) net, -33 ( 33 ), -48 ( 48 ), -29 ( 29 )
Row 4: total other income and expense, $ 620, $ 599, $ 365
****************************************
Post-table: ['.'] | 653.0 | AAPL/2008/page_50.pdf-2 | ['table of contents related to mac os x version 10.6 snow leopard and excluded from r&d expense , while r&d expense for 2007 excluded $ 75 million of capitalized software development costs related to mac os x leopard and iphone .', 'although total r&d expense increased 42% ( 42 % ) during 2008 , it remained relatively flat as a percentage of net sales given the 35% ( 35 % ) increase in revenue during 2008 .', 'the company continues to believe that focused investments in r&d are critical to its future growth and competitive position in the marketplace and are directly related to timely development of new and enhanced products that are central to the company 2019s core business strategy .', 'as such , the company expects to increase spending in r&d to remain competitive .', 'expenditures for r&d increased 10% ( 10 % ) or $ 70 million to $ 782 million in 2007 compared to 2006 .', 'the increases in r&d expense were due primarily to an increase in r&d headcount in 2007 to support expanded r&d activities , partially offset by one less week of expenses in the first quarter of 2007 and the capitalized software development costs mentioned above .', 'selling , general , and administrative expense ( 201csg&a 201d ) expenditures for sg&a increased $ 798 million or 27% ( 27 % ) to $ 3.8 billion in 2008 compared to 2007 .', 'these increases are due primarily to higher stock-based compensation expenses , higher variable selling expenses resulting from the significant year-over-year increase in total net sales and the company 2019s continued expansion of its retail segment in both domestic and international markets .', 'in addition , the company incurred higher spending on marketing and advertising during 2008 compared to 2007 .', 'expenditures for sg&a increased $ 530 million or 22% ( 22 % ) during 2007 compared to 2006 .', 'the increase was due primarily to higher direct and indirect channel variable selling expenses resulting from the significant year-over-year increase in total net sales in 2007 , the company 2019s continued expansion of its retail segment in both domestic and international markets , and higher spending on marketing and advertising , partially offset by one less week of expenses in the first quarter of 2007 .', 'other income and expense other income and expense for the three fiscal years ended september 27 , 2008 , are as follows ( in millions ) : total other income and expense increased $ 21 million to $ 620 million during 2008 as compared to $ 599 million and $ 365 million in 2007 and 2006 , respectively .', 'while the company 2019s cash , cash equivalents and short-term investment balances increased by 59% ( 59 % ) in 2008 , other income and expense increased only 4% ( 4 % ) due to the decline in the weighted average interest rate earned of 3.44% ( 3.44 % ) .', 'the overall increase in other income and expense is attributable to the company 2019s higher cash and short-term investment balances , which more than offset the decline in interest rates during 2008 as compared to 2007 .', 'the weighted average interest rate earned by the company on its cash , cash equivalents , and short-term investments was 5.27% ( 5.27 % ) and 4.58% ( 4.58 % ) during 2007 and 2006 , respectively .', 'during 2008 , 2007 and 2006 , the company had no debt outstanding and accordingly did not incur any related interest expense .', 'provision for income taxes the company 2019s effective tax rates were 30% ( 30 % ) for the years ended september 27 , 2008 and september 29 , 2007 , and 29% ( 29 % ) for the year ended september 30 , 2006 .', 'the company 2019s effective rates differ from the statutory federal income tax rate of 35% ( 35 % ) due primarily to certain undistributed foreign earnings for which no u.s .', 'taxes are provided because such earnings are intended to be indefinitely reinvested outside the as of september 27 , 2008 , the company had deferred tax assets arising from deductible temporary differences , tax losses , and tax credits of $ 2.1 billion before being offset against certain deferred liabilities for presentation on the company 2019s balance sheet .', 'management believes it is more likely than not that forecasted income , including .'] | ['.'] | ****************************************
Row 1: , 2008, 2007, 2006
Row 2: interest income, $ 653, $ 647, $ 394
Row 3: other income ( expense ) net, -33 ( 33 ), -48 ( 48 ), -29 ( 29 )
Row 4: total other income and expense, $ 620, $ 599, $ 365
**************************************** | table_max(interest income, none) | 653.0 |
what is the net income per common share in 2007? | Background: ['duke realty corporation annual report , 200844 estimated with reasonable accuracy .', 'the percentage of completion estimates are based on a comparison of the contract expenditures incurred to the estimated final costs .', 'changes in job performance , job conditions and estimated profitability may result in revisions to costs and income and are recognized in the period in which the revisions are determined .', 'unbilled receivables on construction contracts totaled $ 22.7 million and $ 33.1 million at december 31 , 2008 and 2007 , respectively .', 'property sales gains on sales of all properties are recognized in accordance with sfas 66 .', 'the specific timing of the sale is measured against various criteria in sfas 66 related to the terms of the transactions and any continuing involvement in the form of management or financial assistance from the seller associated with the properties .', 'we make judgments based on the specific terms of each transaction as to the amount of the total profit from the transaction that we recognize considering factors such as continuing ownership interest we may have with the buyer ( 201cpartial sales 201d ) and our level of future involvement with the property or the buyer that acquires the assets .', 'if the sales criteria are not met , we defer gain recognition and account for the continued operations of the property by applying the finance , installment or cost recovery methods , as appropriate , until the full accrual sales criteria are met .', 'estimated future costs to be incurred after completion of each sale are included in the determination of the gain on sales .', 'gains from sales of depreciated property are included in discontinued operations and the proceeds from the sale of these held-for-rental properties are classified in the investing activities section of the consolidated statements of cash flows .', 'gains or losses from our sale of properties that were developed or repositioned with the intent to sell and not for long-term rental ( 201cbuild-for- sale 201d properties ) are classified as gain on sale of build-for-sale properties in the consolidated statements of operations .', 'all activities and proceeds received from the development and sale of these buildings are classified in the operating activities section of the consolidated statements of cash flows .', 'net income per common share basic net income per common share is computed by dividing net income available for common shareholders by the weighted average number of common shares outstanding for the period .', 'diluted net income per common share is computed by dividing the sum of net income available for common shareholders and the minority interest in earnings allocable to units not owned by us , by the sum of the weighted average number of common shares outstanding and minority units outstanding , including any potential dilutive securities for the period .', 'the following table reconciles the components of basic and diluted net income per common share ( in thousands ) : .']
Table:
========================================
• , 2008, 2007, 2006
• basic net income available for common shareholders, $ 56616, $ 217692, $ 145095
• minority interest in earnings of common unitholders, 2968, 14399, 14238
• diluted net income available for common shareholders, $ 59584, $ 232091, $ 159333
• weighted average number of common shares outstanding, 146915, 139255, 134883
• weighted average partnership units outstanding, 7619, 9204, 13186
• dilutive shares for stock-based compensation plans ( 1 ), 507, 1155, 1324
• weighted average number of common shares and potential dilutive securities, 155041, 149614, 149393
========================================
Post-table: ['weighted average number of common shares and potential dilutive securities 155041 149614 149393 ( 1 ) excludes ( in thousands of shares ) 7731 , 780 and 719 of anti-dilutive shares for the years ended december 31 , 2008 , 2007 and 2006 , respectively .', 'also excludes the 3.75% ( 3.75 % ) exchangeable senior notes due november 2011 ( 201cexchangeable notes 201d ) issued in 2006 , that have an anti-dilutive effect on earnings per share for the years ended december 31 , 2008 , 2007 and 2006 .', 'a joint venture partner in one of our unconsolidated companies has the option to convert a portion of its ownership in the joint venture to our common shares .', 'the effect of this option on earnings per share was anti-dilutive for the years ended december 31 , 2008 , 2007 and 2006. .'] | 1.56326 | DRE/2008/page_46.pdf-2 | ['duke realty corporation annual report , 200844 estimated with reasonable accuracy .', 'the percentage of completion estimates are based on a comparison of the contract expenditures incurred to the estimated final costs .', 'changes in job performance , job conditions and estimated profitability may result in revisions to costs and income and are recognized in the period in which the revisions are determined .', 'unbilled receivables on construction contracts totaled $ 22.7 million and $ 33.1 million at december 31 , 2008 and 2007 , respectively .', 'property sales gains on sales of all properties are recognized in accordance with sfas 66 .', 'the specific timing of the sale is measured against various criteria in sfas 66 related to the terms of the transactions and any continuing involvement in the form of management or financial assistance from the seller associated with the properties .', 'we make judgments based on the specific terms of each transaction as to the amount of the total profit from the transaction that we recognize considering factors such as continuing ownership interest we may have with the buyer ( 201cpartial sales 201d ) and our level of future involvement with the property or the buyer that acquires the assets .', 'if the sales criteria are not met , we defer gain recognition and account for the continued operations of the property by applying the finance , installment or cost recovery methods , as appropriate , until the full accrual sales criteria are met .', 'estimated future costs to be incurred after completion of each sale are included in the determination of the gain on sales .', 'gains from sales of depreciated property are included in discontinued operations and the proceeds from the sale of these held-for-rental properties are classified in the investing activities section of the consolidated statements of cash flows .', 'gains or losses from our sale of properties that were developed or repositioned with the intent to sell and not for long-term rental ( 201cbuild-for- sale 201d properties ) are classified as gain on sale of build-for-sale properties in the consolidated statements of operations .', 'all activities and proceeds received from the development and sale of these buildings are classified in the operating activities section of the consolidated statements of cash flows .', 'net income per common share basic net income per common share is computed by dividing net income available for common shareholders by the weighted average number of common shares outstanding for the period .', 'diluted net income per common share is computed by dividing the sum of net income available for common shareholders and the minority interest in earnings allocable to units not owned by us , by the sum of the weighted average number of common shares outstanding and minority units outstanding , including any potential dilutive securities for the period .', 'the following table reconciles the components of basic and diluted net income per common share ( in thousands ) : .'] | ['weighted average number of common shares and potential dilutive securities 155041 149614 149393 ( 1 ) excludes ( in thousands of shares ) 7731 , 780 and 719 of anti-dilutive shares for the years ended december 31 , 2008 , 2007 and 2006 , respectively .', 'also excludes the 3.75% ( 3.75 % ) exchangeable senior notes due november 2011 ( 201cexchangeable notes 201d ) issued in 2006 , that have an anti-dilutive effect on earnings per share for the years ended december 31 , 2008 , 2007 and 2006 .', 'a joint venture partner in one of our unconsolidated companies has the option to convert a portion of its ownership in the joint venture to our common shares .', 'the effect of this option on earnings per share was anti-dilutive for the years ended december 31 , 2008 , 2007 and 2006. .'] | ========================================
• , 2008, 2007, 2006
• basic net income available for common shareholders, $ 56616, $ 217692, $ 145095
• minority interest in earnings of common unitholders, 2968, 14399, 14238
• diluted net income available for common shareholders, $ 59584, $ 232091, $ 159333
• weighted average number of common shares outstanding, 146915, 139255, 134883
• weighted average partnership units outstanding, 7619, 9204, 13186
• dilutive shares for stock-based compensation plans ( 1 ), 507, 1155, 1324
• weighted average number of common shares and potential dilutive securities, 155041, 149614, 149393
======================================== | divide(217692, 139255) | 1.56326 |
for 2016 , what percentage of derivative receivables are rated junk? | Context: ['jpmorgan chase & co./2017 annual report 115 impact of wrong-way risk , which is broadly defined as the potential for increased correlation between the firm 2019s exposure to a counterparty ( avg ) and the counterparty 2019s credit quality .', 'many factors may influence the nature and magnitude of these correlations over time .', 'to the extent that these correlations are identified , the firm may adjust the cva associated with that counterparty 2019s avg .', 'the firm risk manages exposure to changes in cva by entering into credit derivative transactions , as well as interest rate , foreign exchange , equity and commodity derivative transactions .', 'the accompanying graph shows exposure profiles to the firm 2019s current derivatives portfolio over the next 10 years as calculated by the peak , dre and avg metrics .', 'the three measures generally show that exposure will decline after the first year , if no new trades are added to the portfolio .', 'exposure profile of derivatives measures december 31 , 2017 ( in billions ) the following table summarizes the ratings profile by derivative counterparty of the firm 2019s derivative receivables , including credit derivatives , net of all collateral , at the dates indicated .', 'the ratings scale is based on the firm 2019s internal ratings , which generally correspond to the ratings as assigned by s&p and moody 2019s .', 'ratings profile of derivative receivables .']
##########
Tabular Data:
========================================
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, $ 11529, 29% ( 29 % ), $ 11449, 28% ( 28 % )
a+/a1 to a-/a3, 6919, 17, 8505, 20
bbb+/baa1 to bbb-/baa3, 13925, 34, 13127, 32
bb+/ba1 to b-/b3, 7397, 18, 7308, 18
ccc+/caa1 and below, 645, 2, 984, 2
total, $ 40415, 100% ( 100 % ), $ 41373, 100% ( 100 % )
========================================
##########
Post-table: ['as previously noted , the firm uses collateral agreements to mitigate counterparty credit risk .', 'the percentage of the firm 2019s over-the-counter derivatives transactions subject to collateral agreements 2014 excluding foreign exchange spot trades , which are not typically covered by collateral agreements due to their short maturity and centrally cleared trades that are settled daily 2014 was approximately 90% ( 90 % ) as of december 31 , 2017 , largely unchanged compared with december 31 , 2016 .', 'credit derivatives the firm uses credit derivatives for two primary purposes : first , in its capacity as a market-maker , and second , as an end-user to manage the firm 2019s own credit risk associated with various exposures .', 'for a detailed description of credit derivatives , see credit derivatives in note 5 .', 'credit portfolio management activities included in the firm 2019s end-user activities are credit derivatives used to mitigate the credit risk associated with traditional lending activities ( loans and unfunded commitments ) and derivatives counterparty exposure in the firm 2019s wholesale businesses ( collectively , 201ccredit portfolio management 201d activities ) .', 'information on credit portfolio management activities is provided in the table below .', 'for further information on derivatives used in credit portfolio management activities , see credit derivatives in note 5 .', 'the firm also uses credit derivatives as an end-user to manage other exposures , including credit risk arising from certain securities held in the firm 2019s market-making businesses .', 'these credit derivatives are not included in credit portfolio management activities ; for further information on these credit derivatives as well as credit derivatives used in the firm 2019s capacity as a market-maker in credit derivatives , see credit derivatives in note 5 .', '10 years5 years2 years1 year .'] | 20.0 | JPM/2017/page_145.pdf-2 | ['jpmorgan chase & co./2017 annual report 115 impact of wrong-way risk , which is broadly defined as the potential for increased correlation between the firm 2019s exposure to a counterparty ( avg ) and the counterparty 2019s credit quality .', 'many factors may influence the nature and magnitude of these correlations over time .', 'to the extent that these correlations are identified , the firm may adjust the cva associated with that counterparty 2019s avg .', 'the firm risk manages exposure to changes in cva by entering into credit derivative transactions , as well as interest rate , foreign exchange , equity and commodity derivative transactions .', 'the accompanying graph shows exposure profiles to the firm 2019s current derivatives portfolio over the next 10 years as calculated by the peak , dre and avg metrics .', 'the three measures generally show that exposure will decline after the first year , if no new trades are added to the portfolio .', 'exposure profile of derivatives measures december 31 , 2017 ( in billions ) the following table summarizes the ratings profile by derivative counterparty of the firm 2019s derivative receivables , including credit derivatives , net of all collateral , at the dates indicated .', 'the ratings scale is based on the firm 2019s internal ratings , which generally correspond to the ratings as 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 derivatives transactions subject to collateral agreements 2014 excluding foreign exchange spot trades , which are not typically covered by collateral agreements due to their short maturity and centrally cleared trades that are settled daily 2014 was approximately 90% ( 90 % ) as of december 31 , 2017 , largely unchanged compared with december 31 , 2016 .', 'credit derivatives the firm uses credit derivatives for two primary purposes : first , in its capacity as a market-maker , and second , as an end-user to manage the firm 2019s own credit risk associated with various exposures .', 'for a detailed description of credit derivatives , see credit derivatives in note 5 .', 'credit portfolio management activities included in the firm 2019s end-user activities are credit derivatives used to mitigate the credit risk associated with traditional lending activities ( loans and unfunded commitments ) and derivatives counterparty exposure in the firm 2019s wholesale businesses ( collectively , 201ccredit portfolio management 201d activities ) .', 'information on credit portfolio management activities is provided in the table below .', 'for further information on derivatives used in credit portfolio management activities , see credit derivatives in note 5 .', 'the firm also uses credit derivatives as an end-user to manage other exposures , including credit risk arising from certain securities held in the firm 2019s market-making businesses .', 'these credit derivatives are not included in credit portfolio management activities ; for further information on these credit derivatives as well as credit derivatives used in the firm 2019s capacity as a market-maker in credit derivatives , see credit derivatives in note 5 .', '10 years5 years2 years1 year .'] | ========================================
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, $ 11529, 29% ( 29 % ), $ 11449, 28% ( 28 % )
a+/a1 to a-/a3, 6919, 17, 8505, 20
bbb+/baa1 to bbb-/baa3, 13925, 34, 13127, 32
bb+/ba1 to b-/b3, 7397, 18, 7308, 18
ccc+/caa1 and below, 645, 2, 984, 2
total, $ 40415, 100% ( 100 % ), $ 41373, 100% ( 100 % )
======================================== | add(18, 2) | 20.0 |
what percentage of total other assets in 2012 was comprised of goodwill and identifiable intangible assets? | Background: ['notes to consolidated financial statements note 12 .', 'other assets other assets are generally less liquid , non-financial assets .', 'the table below presents other assets by type. .']
##########
Tabular Data:
****************************************
in millions as of december 2012 as of december 2011
property leasehold improvements andequipment1 $ 8217 $ 8697
goodwill and identifiable intangibleassets2 5099 5468
income tax-related assets3 5620 5017
equity-method investments4 453 664
miscellaneous receivables and other5 20234 3306
total $ 39623 $ 23152
****************************************
##########
Additional Information: ['1 .', 'net of accumulated depreciation and amortization of $ 9.05 billion and $ 8.46 billion as of december 2012 and december 2011 , respectively .', '2 .', 'includes $ 149 million of intangible assets classified as held for sale .', 'see note 13 for further information about goodwill and identifiable intangible assets .', '3 .', 'see note 24 for further information about income taxes .', '4 .', 'excludes investments accounted for at fair value under the fair value option where the firm would otherwise apply the equity method of accounting of $ 5.54 billion and $ 4.17 billion as of december 2012 and december 2011 , respectively , which are included in 201cfinancial instruments owned , at fair value . 201d the firm has generally elected the fair value option for such investments acquired after the fair value option became available .', '5 .', 'includes $ 16.77 billion of assets related to the firm 2019s reinsurance business which were classified as held for sale as of december 2012 .', 'assets held for sale in the fourth quarter of 2012 , the firm classified its reinsurance business within its institutional client services segment as held for sale .', 'assets related to this business of $ 16.92 billion , consisting primarily of available-for-sale securities and separate account assets at fair value , are included in 201cother assets . 201d liabilities related to the business of $ 14.62 billion are included in 201cother liabilities and accrued expenses . 201d see note 8 for further information about insurance-related assets and liabilities held for sale at fair value .', 'the firm expects to complete the sale of a majority stake in its reinsurance business in 2013 and does not expect to recognize a material gain or loss upon the sale .', 'upon completion of the sale , the firm will no longer consolidate this business .', 'property , leasehold improvements and equipment property , leasehold improvements and equipment included $ 6.20 billion and $ 6.48 billion as of december 2012 and december 2011 , respectively , related to property , leasehold improvements and equipment that the firm uses in connection with its operations .', 'the remainder is held by investment entities , including vies , consolidated by the firm .', 'substantially all property and equipment are depreciated on a straight-line basis over the useful life of the asset .', 'leasehold improvements are amortized on a straight-line basis over the useful life of the improvement or the term of the lease , whichever is shorter .', 'certain costs of software developed or obtained for internal use are capitalized and amortized on a straight-line basis over the useful life of the software .', 'property , leasehold improvements and equipment are tested for impairment whenever events or changes in circumstances suggest that an asset 2019s or asset group 2019s carrying value may not be fully recoverable .', 'the firm 2019s policy for impairment testing of property , leasehold improvements and equipment is the same as is used for identifiable intangible assets with finite lives .', 'see note 13 for further information .', 'goldman sachs 2012 annual report 163 .'] | 0.12869 | GS/2012/page_165.pdf-1 | ['notes to consolidated financial statements note 12 .', 'other assets other assets are generally less liquid , non-financial assets .', 'the table below presents other assets by type. .'] | ['1 .', 'net of accumulated depreciation and amortization of $ 9.05 billion and $ 8.46 billion as of december 2012 and december 2011 , respectively .', '2 .', 'includes $ 149 million of intangible assets classified as held for sale .', 'see note 13 for further information about goodwill and identifiable intangible assets .', '3 .', 'see note 24 for further information about income taxes .', '4 .', 'excludes investments accounted for at fair value under the fair value option where the firm would otherwise apply the equity method of accounting of $ 5.54 billion and $ 4.17 billion as of december 2012 and december 2011 , respectively , which are included in 201cfinancial instruments owned , at fair value . 201d the firm has generally elected the fair value option for such investments acquired after the fair value option became available .', '5 .', 'includes $ 16.77 billion of assets related to the firm 2019s reinsurance business which were classified as held for sale as of december 2012 .', 'assets held for sale in the fourth quarter of 2012 , the firm classified its reinsurance business within its institutional client services segment as held for sale .', 'assets related to this business of $ 16.92 billion , consisting primarily of available-for-sale securities and separate account assets at fair value , are included in 201cother assets . 201d liabilities related to the business of $ 14.62 billion are included in 201cother liabilities and accrued expenses . 201d see note 8 for further information about insurance-related assets and liabilities held for sale at fair value .', 'the firm expects to complete the sale of a majority stake in its reinsurance business in 2013 and does not expect to recognize a material gain or loss upon the sale .', 'upon completion of the sale , the firm will no longer consolidate this business .', 'property , leasehold improvements and equipment property , leasehold improvements and equipment included $ 6.20 billion and $ 6.48 billion as of december 2012 and december 2011 , respectively , related to property , leasehold improvements and equipment that the firm uses in connection with its operations .', 'the remainder is held by investment entities , including vies , consolidated by the firm .', 'substantially all property and equipment are depreciated on a straight-line basis over the useful life of the asset .', 'leasehold improvements are amortized on a straight-line basis over the useful life of the improvement or the term of the lease , whichever is shorter .', 'certain costs of software developed or obtained for internal use are capitalized and amortized on a straight-line basis over the useful life of the software .', 'property , leasehold improvements and equipment are tested for impairment whenever events or changes in circumstances suggest that an asset 2019s or asset group 2019s carrying value may not be fully recoverable .', 'the firm 2019s policy for impairment testing of property , leasehold improvements and equipment is the same as is used for identifiable intangible assets with finite lives .', 'see note 13 for further information .', 'goldman sachs 2012 annual report 163 .'] | ****************************************
in millions as of december 2012 as of december 2011
property leasehold improvements andequipment1 $ 8217 $ 8697
goodwill and identifiable intangibleassets2 5099 5468
income tax-related assets3 5620 5017
equity-method investments4 453 664
miscellaneous receivables and other5 20234 3306
total $ 39623 $ 23152
**************************************** | divide(5099, 39623) | 0.12869 |
are the japan banks larger than the german government? | Pre-text: ['financial data supplement ( unaudited ) 2014 ( continued ) .']
Table:
========================================
Row 1: country, at december 31 2011 banks, at december 31 2011 governments, at december 31 2011 other, at december 31 2011 total
Row 2: united kingdom, $ 13852, $ 2, $ 89585, $ 103439
Row 3: cayman islands, 766, 2014, 31169, 31935
Row 4: france, 23561, 1096, 4196, 28853
Row 5: japan, 23542, 436, 2821, 26799
Row 6: germany, 18674, 3485, 1859, 24018
Row 7: netherlands, 3508, 23, 8826, 12357
Row 8: luxembourg, 1619, 94, 6137, 7850
Row 9: brazil, 149, 3398, 2165, 5712
Row 10: australia, 2008, 557, 1414, 3979
Row 11: italy, 881, 1463, 539, 2883
========================================
Post-table: ['.'] | yes | MS/2013/page_298.pdf-2 | ['financial data supplement ( unaudited ) 2014 ( continued ) .'] | ['.'] | ========================================
Row 1: country, at december 31 2011 banks, at december 31 2011 governments, at december 31 2011 other, at december 31 2011 total
Row 2: united kingdom, $ 13852, $ 2, $ 89585, $ 103439
Row 3: cayman islands, 766, 2014, 31169, 31935
Row 4: france, 23561, 1096, 4196, 28853
Row 5: japan, 23542, 436, 2821, 26799
Row 6: germany, 18674, 3485, 1859, 24018
Row 7: netherlands, 3508, 23, 8826, 12357
Row 8: luxembourg, 1619, 94, 6137, 7850
Row 9: brazil, 149, 3398, 2165, 5712
Row 10: australia, 2008, 557, 1414, 3979
Row 11: italy, 881, 1463, 539, 2883
======================================== | greater(23542, 3485) | yes |
in 2005 what was the percent of the investment banking as part of the total segments operations | Background: ['segment results 2013 operating basis ( a ) ( b ) ( table continued from previous page ) year ended december 31 , operating earnings return on common equity 2013 goodwill ( c ) .']
Tabular Data:
****************************************
Row 1: year ended december 31 , ( in millions except ratios ), year ended december 31 , 2005, year ended december 31 , 2004, year ended december 31 , change, 2005, 2004
Row 2: investment bank, $ 3658, $ 2948, 24% ( 24 % ), 18% ( 18 % ), 17% ( 17 % )
Row 3: retail financial services, 3427, 2199, 56, 26, 24
Row 4: card services, 1907, 1274, 50, 16, 17
Row 5: commercial banking, 1007, 608, 66, 30, 29
Row 6: treasury & securities services, 1037, 440, 136, 55, 17
Row 7: asset & wealth management, 1216, 681, 79, 51, 17
Row 8: corporate, -1731 ( 1731 ), 61, nm, nm, nm
Row 9: total, $ 10521, $ 8211, 28% ( 28 % ), 17% ( 17 % ), 16% ( 16 % )
****************************************
Follow-up: ['jpmorgan chase & co .', '/ 2005 annual report 35 and are retained in corporate .', 'these retained expenses include parent company costs that would not be incurred if the segments were stand-alone businesses ; adjustments to align certain corporate staff , technology and operations allocations with market prices ; and other one-time items not aligned with the business segments .', 'during 2005 , the firm refined cost allocation methodologies related to certain corporate functions , technology and operations expenses in order to improve transparency , consistency and accountability with regard to costs allocated across business segments .', 'prior periods have not been revised to reflect these new cost allocation methodologies .', 'capital allocation each business segment is allocated capital by taking into consideration stand- alone peer comparisons , economic risk measures and regulatory capital requirements .', 'the amount of capital assigned to each business is referred to as equity .', 'at the time of the merger , goodwill , as well as the associated capital , was allocated solely to corporate .', 'effective january 2006 , the firm expects to refine its methodology for allocating capital to the business segments to include any goodwill associated with line of business-directed acquisitions since the merger .', 'u.s .', 'gaap requires the allocation of goodwill to the business segments for impairment testing ( see critical accounting estimates used by the firm and note 15 on pages 81 2013 83 and 114 2013116 , respectively , of this annual report ) .', 'see the capital management section on page 56 of this annual report for a discussion of the equity framework .', 'credit reimbursement tss reimburses the ib for credit portfolio exposures the ib manages on behalf of clients the segments share .', 'at the time of the merger , the reimbursement methodology was revised to be based upon pre-tax earnings , net of the cost of capital related to those exposures .', 'prior to the merger , the credit reimbursement was based upon pre-tax earnings , plus the allocated capital associated with the shared clients .', 'tax-equivalent adjustments segment and firm results reflect revenues on a tax-equivalent basis for segment reporting purposes .', 'refer to explanation and reconciliation of the firm 2019s non-gaap financial measures on page 31 of this annual report for additional details .', 'description of business segment reporting methodology results of the business segments are intended to reflect each segment as if it were essentially a stand-alone business .', 'the management reporting process that derives these results allocates income and expense using market-based methodologies .', 'effective with the merger on july 1 , 2004 , several of the allocation methodologies were revised , as noted below .', 'as prior periods have not been revised to reflect these new methodologies , they are not comparable to the presentation of periods beginning with the third quarter of 2004 .', 'further , the firm continues to assess the assumptions , methodologies and reporting reclassifications used for segment reporting , and further refinements may be implemented in future periods .', 'revenue sharing when business segments join efforts to sell products and services to the firm 2019s clients , the participating business segments agree to share revenues from those transactions .', 'these revenue-sharing agreements were revised on the merger date to provide consistency across the lines of business .', 'funds transfer pricing funds transfer pricing ( 201cftp 201d ) is used to allocate interest income and expense to each business and transfer the primary interest rate risk exposures to corporate .', 'the allocation process is unique to each business and considers the interest rate risk , liquidity risk and regulatory requirements of its stand- alone peers .', 'business segments may retain certain interest rate exposures , subject to management approval , that would be expected in the normal operation of a similar peer business .', 'in the third quarter of 2004 , ftp was revised to conform the policies of the combined firms .', 'expense allocation where business segments use services provided by support units within the firm , the costs of those support units are allocated to the business segments .', 'those expenses are allocated based upon their actual cost , or the lower of actual cost or market cost , as well as upon usage of the services provided .', 'effective with the third quarter of 2004 , the cost allocation methodologies of the heritage firms were aligned to provide consistency across the business segments .', 'in addition , expenses related to certain corporate functions , technology and operations ceased to be allocated to the business segments .'] | 0.34769 | JPM/2005/page_37.pdf-1 | ['segment results 2013 operating basis ( a ) ( b ) ( table continued from previous page ) year ended december 31 , operating earnings return on common equity 2013 goodwill ( c ) .'] | ['jpmorgan chase & co .', '/ 2005 annual report 35 and are retained in corporate .', 'these retained expenses include parent company costs that would not be incurred if the segments were stand-alone businesses ; adjustments to align certain corporate staff , technology and operations allocations with market prices ; and other one-time items not aligned with the business segments .', 'during 2005 , the firm refined cost allocation methodologies related to certain corporate functions , technology and operations expenses in order to improve transparency , consistency and accountability with regard to costs allocated across business segments .', 'prior periods have not been revised to reflect these new cost allocation methodologies .', 'capital allocation each business segment is allocated capital by taking into consideration stand- alone peer comparisons , economic risk measures and regulatory capital requirements .', 'the amount of capital assigned to each business is referred to as equity .', 'at the time of the merger , goodwill , as well as the associated capital , was allocated solely to corporate .', 'effective january 2006 , the firm expects to refine its methodology for allocating capital to the business segments to include any goodwill associated with line of business-directed acquisitions since the merger .', 'u.s .', 'gaap requires the allocation of goodwill to the business segments for impairment testing ( see critical accounting estimates used by the firm and note 15 on pages 81 2013 83 and 114 2013116 , respectively , of this annual report ) .', 'see the capital management section on page 56 of this annual report for a discussion of the equity framework .', 'credit reimbursement tss reimburses the ib for credit portfolio exposures the ib manages on behalf of clients the segments share .', 'at the time of the merger , the reimbursement methodology was revised to be based upon pre-tax earnings , net of the cost of capital related to those exposures .', 'prior to the merger , the credit reimbursement was based upon pre-tax earnings , plus the allocated capital associated with the shared clients .', 'tax-equivalent adjustments segment and firm results reflect revenues on a tax-equivalent basis for segment reporting purposes .', 'refer to explanation and reconciliation of the firm 2019s non-gaap financial measures on page 31 of this annual report for additional details .', 'description of business segment reporting methodology results of the business segments are intended to reflect each segment as if it were essentially a stand-alone business .', 'the management reporting process that derives these results allocates income and expense using market-based methodologies .', 'effective with the merger on july 1 , 2004 , several of the allocation methodologies were revised , as noted below .', 'as prior periods have not been revised to reflect these new methodologies , they are not comparable to the presentation of periods beginning with the third quarter of 2004 .', 'further , the firm continues to assess the assumptions , methodologies and reporting reclassifications used for segment reporting , and further refinements may be implemented in future periods .', 'revenue sharing when business segments join efforts to sell products and services to the firm 2019s clients , the participating business segments agree to share revenues from those transactions .', 'these revenue-sharing agreements were revised on the merger date to provide consistency across the lines of business .', 'funds transfer pricing funds transfer pricing ( 201cftp 201d ) is used to allocate interest income and expense to each business and transfer the primary interest rate risk exposures to corporate .', 'the allocation process is unique to each business and considers the interest rate risk , liquidity risk and regulatory requirements of its stand- alone peers .', 'business segments may retain certain interest rate exposures , subject to management approval , that would be expected in the normal operation of a similar peer business .', 'in the third quarter of 2004 , ftp was revised to conform the policies of the combined firms .', 'expense allocation where business segments use services provided by support units within the firm , the costs of those support units are allocated to the business segments .', 'those expenses are allocated based upon their actual cost , or the lower of actual cost or market cost , as well as upon usage of the services provided .', 'effective with the third quarter of 2004 , the cost allocation methodologies of the heritage firms were aligned to provide consistency across the business segments .', 'in addition , expenses related to certain corporate functions , technology and operations ceased to be allocated to the business segments .'] | ****************************************
Row 1: year ended december 31 , ( in millions except ratios ), year ended december 31 , 2005, year ended december 31 , 2004, year ended december 31 , change, 2005, 2004
Row 2: investment bank, $ 3658, $ 2948, 24% ( 24 % ), 18% ( 18 % ), 17% ( 17 % )
Row 3: retail financial services, 3427, 2199, 56, 26, 24
Row 4: card services, 1907, 1274, 50, 16, 17
Row 5: commercial banking, 1007, 608, 66, 30, 29
Row 6: treasury & securities services, 1037, 440, 136, 55, 17
Row 7: asset & wealth management, 1216, 681, 79, 51, 17
Row 8: corporate, -1731 ( 1731 ), 61, nm, nm, nm
Row 9: total, $ 10521, $ 8211, 28% ( 28 % ), 17% ( 17 % ), 16% ( 16 % )
**************************************** | divide(3658, 10521) | 0.34769 |
what is the average contribution expense related to all of its defined contribution plans for the years 2007-2009? | Context: ['mastercard incorporated notes to consolidated financial statements 2014 ( continued ) ( in thousands , except percent and per share data ) the following table summarizes expected benefit payments through 2019 for the pension plans , including those payments expected to be paid from the company 2019s general assets .', 'since the majority of the benefit payments are made in the form of lump-sum distributions , actual benefit payments may differ from expected benefit payments. .']
########
Tabular Data:
----------------------------------------
2010 | $ 18181
----------|----------
2011 | 27090
2012 | 21548
2013 | 25513
2014 | 24002
2015-2019 | 128494
----------------------------------------
########
Post-table: ['substantially all of the company 2019s u.s .', 'employees are eligible to participate in a defined contribution savings plan ( the 201csavings plan 201d ) sponsored by the company .', 'the savings plan allows employees to contribute a portion of their base compensation on a pre-tax and after-tax basis in accordance with specified guidelines .', 'the company matches a percentage of employees 2019 contributions up to certain limits .', 'in 2007 and prior years , the company could also contribute to the savings plan a discretionary profit sharing component linked to company performance during the prior year .', 'beginning in 2008 , the discretionary profit sharing amount related to prior year company performance was paid directly to employees as a short-term cash incentive bonus rather than as a contribution to the savings plan .', 'in addition , the company has several defined contribution plans outside of the united states .', 'the company 2019s contribution expense related to all of its defined contribution plans was $ 40627 , $ 35341 and $ 26996 for 2009 , 2008 and 2007 , respectively .', 'note 13 .', 'postemployment and postretirement benefits the company maintains a postretirement plan ( the 201cpostretirement plan 201d ) providing health coverage and life insurance benefits for substantially all of its u.s .', 'employees hired before july 1 , 2007 .', 'the company amended the life insurance benefits under the postretirement plan effective january 1 , 2007 .', 'the impact , net of taxes , of this amendment was an increase of $ 1715 to accumulated other comprehensive income in 2007 .', 'in 2009 , the company recorded a $ 3944 benefit expense as a result of enhanced postretirement medical benefits under the postretirement plan provided to employees that chose to participate in a voluntary transition program. .'] | 34321.33333 | MA/2009/page_112.pdf-2 | ['mastercard incorporated notes to consolidated financial statements 2014 ( continued ) ( in thousands , except percent and per share data ) the following table summarizes expected benefit payments through 2019 for the pension plans , including those payments expected to be paid from the company 2019s general assets .', 'since the majority of the benefit payments are made in the form of lump-sum distributions , actual benefit payments may differ from expected benefit payments. .'] | ['substantially all of the company 2019s u.s .', 'employees are eligible to participate in a defined contribution savings plan ( the 201csavings plan 201d ) sponsored by the company .', 'the savings plan allows employees to contribute a portion of their base compensation on a pre-tax and after-tax basis in accordance with specified guidelines .', 'the company matches a percentage of employees 2019 contributions up to certain limits .', 'in 2007 and prior years , the company could also contribute to the savings plan a discretionary profit sharing component linked to company performance during the prior year .', 'beginning in 2008 , the discretionary profit sharing amount related to prior year company performance was paid directly to employees as a short-term cash incentive bonus rather than as a contribution to the savings plan .', 'in addition , the company has several defined contribution plans outside of the united states .', 'the company 2019s contribution expense related to all of its defined contribution plans was $ 40627 , $ 35341 and $ 26996 for 2009 , 2008 and 2007 , respectively .', 'note 13 .', 'postemployment and postretirement benefits the company maintains a postretirement plan ( the 201cpostretirement plan 201d ) providing health coverage and life insurance benefits for substantially all of its u.s .', 'employees hired before july 1 , 2007 .', 'the company amended the life insurance benefits under the postretirement plan effective january 1 , 2007 .', 'the impact , net of taxes , of this amendment was an increase of $ 1715 to accumulated other comprehensive income in 2007 .', 'in 2009 , the company recorded a $ 3944 benefit expense as a result of enhanced postretirement medical benefits under the postretirement plan provided to employees that chose to participate in a voluntary transition program. .'] | ----------------------------------------
2010 | $ 18181
----------|----------
2011 | 27090
2012 | 21548
2013 | 25513
2014 | 24002
2015-2019 | 128494
---------------------------------------- | add(40627, 35341), add(26996, #0), divide(#1, const_3) | 34321.33333 |
what were total operating expenses in 2017? | Background: ['the following table shows annual aircraft fuel consumption and costs , including taxes , for our mainline and regional operations for 2018 , 2017 and 2016 ( gallons and aircraft fuel expense in millions ) .', 'year gallons average price per gallon aircraft fuel expense percent of total operating expenses .']
----------
Data Table:
========================================
year | gallons | average priceper gallon | aircraft fuelexpense | percent of totaloperating expenses
----------|----------|----------|----------|----------
2018 | 4447 | $ 2.23 | $ 9896 | 23.6% ( 23.6 % )
2017 | 4352 | 1.73 | 7510 | 19.6% ( 19.6 % )
2016 | 4347 | 1.42 | 6180 | 17.6% ( 17.6 % )
========================================
----------
Follow-up: ['as of december 31 , 2018 , we did not have any fuel hedging contracts outstanding to hedge our fuel consumption .', 'as such , and assuming we do not enter into any future transactions to hedge our fuel consumption , we will continue to be fully exposed to fluctuations in fuel prices .', 'our current policy is not to enter into transactions to hedge our fuel consumption , although we review that policy from time to time based on market conditions and other factors .', 'fuel prices have fluctuated substantially over the past several years .', 'we cannot predict the future availability , price volatility or cost of aircraft fuel .', 'natural disasters ( including hurricanes or similar events in the u.s .', 'southeast and on the gulf coast where a significant portion of domestic refining capacity is located ) , political disruptions or wars involving oil-producing countries , economic sanctions imposed against oil-producing countries or specific industry participants , changes in fuel-related governmental policy , the strength of the u.s .', 'dollar against foreign currencies , changes in the cost to transport or store petroleum products , changes in access to petroleum product pipelines and terminals , speculation in the energy futures markets , changes in aircraft fuel production capacity , environmental concerns and other unpredictable events may result in fuel supply shortages , distribution challenges , additional fuel price volatility and cost increases in the future .', 'see part i , item 1a .', 'risk factors 2013 201cour business is very dependent on the price and availability of aircraft fuel .', 'continued periods of high volatility in fuel costs , increased fuel prices or significant disruptions in the supply of aircraft fuel could have a significant negative impact on our operating results and liquidity . 201d seasonality and other factors due to the greater demand for air travel during the summer months , revenues in the airline industry in the second and third quarters of the year tend to be greater than revenues in the first and fourth quarters of the year .', 'general economic conditions , fears of terrorism or war , fare initiatives , fluctuations in fuel prices , labor actions , weather , natural disasters , outbreaks of disease and other factors could impact this seasonal pattern .', 'therefore , our quarterly results of operations are not necessarily indicative of operating results for the entire year , and historical operating results in a quarterly or annual period are not necessarily indicative of future operating results .', 'domestic and global regulatory landscape general airlines are subject to extensive domestic and international regulatory requirements .', 'domestically , the dot and the federal aviation administration ( faa ) exercise significant regulatory authority over air carriers .', 'the dot , among other things , oversees domestic and international codeshare agreements , international route authorities , competition and consumer protection matters such as advertising , denied boarding compensation and baggage liability .', 'the antitrust division of the department of justice ( doj ) , along with the dot in certain instances , have jurisdiction over airline antitrust matters. .'] | 38316.32653 | AAL/2018/page_13.pdf-3 | ['the following table shows annual aircraft fuel consumption and costs , including taxes , for our mainline and regional operations for 2018 , 2017 and 2016 ( gallons and aircraft fuel expense in millions ) .', 'year gallons average price per gallon aircraft fuel expense percent of total operating expenses .'] | ['as of december 31 , 2018 , we did not have any fuel hedging contracts outstanding to hedge our fuel consumption .', 'as such , and assuming we do not enter into any future transactions to hedge our fuel consumption , we will continue to be fully exposed to fluctuations in fuel prices .', 'our current policy is not to enter into transactions to hedge our fuel consumption , although we review that policy from time to time based on market conditions and other factors .', 'fuel prices have fluctuated substantially over the past several years .', 'we cannot predict the future availability , price volatility or cost of aircraft fuel .', 'natural disasters ( including hurricanes or similar events in the u.s .', 'southeast and on the gulf coast where a significant portion of domestic refining capacity is located ) , political disruptions or wars involving oil-producing countries , economic sanctions imposed against oil-producing countries or specific industry participants , changes in fuel-related governmental policy , the strength of the u.s .', 'dollar against foreign currencies , changes in the cost to transport or store petroleum products , changes in access to petroleum product pipelines and terminals , speculation in the energy futures markets , changes in aircraft fuel production capacity , environmental concerns and other unpredictable events may result in fuel supply shortages , distribution challenges , additional fuel price volatility and cost increases in the future .', 'see part i , item 1a .', 'risk factors 2013 201cour business is very dependent on the price and availability of aircraft fuel .', 'continued periods of high volatility in fuel costs , increased fuel prices or significant disruptions in the supply of aircraft fuel could have a significant negative impact on our operating results and liquidity . 201d seasonality and other factors due to the greater demand for air travel during the summer months , revenues in the airline industry in the second and third quarters of the year tend to be greater than revenues in the first and fourth quarters of the year .', 'general economic conditions , fears of terrorism or war , fare initiatives , fluctuations in fuel prices , labor actions , weather , natural disasters , outbreaks of disease and other factors could impact this seasonal pattern .', 'therefore , our quarterly results of operations are not necessarily indicative of operating results for the entire year , and historical operating results in a quarterly or annual period are not necessarily indicative of future operating results .', 'domestic and global regulatory landscape general airlines are subject to extensive domestic and international regulatory requirements .', 'domestically , the dot and the federal aviation administration ( faa ) exercise significant regulatory authority over air carriers .', 'the dot , among other things , oversees domestic and international codeshare agreements , international route authorities , competition and consumer protection matters such as advertising , denied boarding compensation and baggage liability .', 'the antitrust division of the department of justice ( doj ) , along with the dot in certain instances , have jurisdiction over airline antitrust matters. .'] | ========================================
year | gallons | average priceper gallon | aircraft fuelexpense | percent of totaloperating expenses
----------|----------|----------|----------|----------
2018 | 4447 | $ 2.23 | $ 9896 | 23.6% ( 23.6 % )
2017 | 4352 | 1.73 | 7510 | 19.6% ( 19.6 % )
2016 | 4347 | 1.42 | 6180 | 17.6% ( 17.6 % )
======================================== | divide(7510, 19.6%) | 38316.32653 |
what was the ratio of the company 2019s contribution expense related to all of its defined contribution plans for 2009 to 2008 | Pre-text: ['mastercard incorporated notes to consolidated financial statements 2014 ( continued ) ( in thousands , except percent and per share data ) the following table summarizes expected benefit payments through 2019 for the pension plans , including those payments expected to be paid from the company 2019s general assets .', 'since the majority of the benefit payments are made in the form of lump-sum distributions , actual benefit payments may differ from expected benefit payments. .']
##########
Tabular Data:
----------------------------------------
2010 $ 18181
2011 27090
2012 21548
2013 25513
2014 24002
2015-2019 128494
----------------------------------------
##########
Post-table: ['substantially all of the company 2019s u.s .', 'employees are eligible to participate in a defined contribution savings plan ( the 201csavings plan 201d ) sponsored by the company .', 'the savings plan allows employees to contribute a portion of their base compensation on a pre-tax and after-tax basis in accordance with specified guidelines .', 'the company matches a percentage of employees 2019 contributions up to certain limits .', 'in 2007 and prior years , the company could also contribute to the savings plan a discretionary profit sharing component linked to company performance during the prior year .', 'beginning in 2008 , the discretionary profit sharing amount related to prior year company performance was paid directly to employees as a short-term cash incentive bonus rather than as a contribution to the savings plan .', 'in addition , the company has several defined contribution plans outside of the united states .', 'the company 2019s contribution expense related to all of its defined contribution plans was $ 40627 , $ 35341 and $ 26996 for 2009 , 2008 and 2007 , respectively .', 'note 13 .', 'postemployment and postretirement benefits the company maintains a postretirement plan ( the 201cpostretirement plan 201d ) providing health coverage and life insurance benefits for substantially all of its u.s .', 'employees hired before july 1 , 2007 .', 'the company amended the life insurance benefits under the postretirement plan effective january 1 , 2007 .', 'the impact , net of taxes , of this amendment was an increase of $ 1715 to accumulated other comprehensive income in 2007 .', 'in 2009 , the company recorded a $ 3944 benefit expense as a result of enhanced postretirement medical benefits under the postretirement plan provided to employees that chose to participate in a voluntary transition program. .'] | 1.14957 | MA/2009/page_112.pdf-4 | ['mastercard incorporated notes to consolidated financial statements 2014 ( continued ) ( in thousands , except percent and per share data ) the following table summarizes expected benefit payments through 2019 for the pension plans , including those payments expected to be paid from the company 2019s general assets .', 'since the majority of the benefit payments are made in the form of lump-sum distributions , actual benefit payments may differ from expected benefit payments. .'] | ['substantially all of the company 2019s u.s .', 'employees are eligible to participate in a defined contribution savings plan ( the 201csavings plan 201d ) sponsored by the company .', 'the savings plan allows employees to contribute a portion of their base compensation on a pre-tax and after-tax basis in accordance with specified guidelines .', 'the company matches a percentage of employees 2019 contributions up to certain limits .', 'in 2007 and prior years , the company could also contribute to the savings plan a discretionary profit sharing component linked to company performance during the prior year .', 'beginning in 2008 , the discretionary profit sharing amount related to prior year company performance was paid directly to employees as a short-term cash incentive bonus rather than as a contribution to the savings plan .', 'in addition , the company has several defined contribution plans outside of the united states .', 'the company 2019s contribution expense related to all of its defined contribution plans was $ 40627 , $ 35341 and $ 26996 for 2009 , 2008 and 2007 , respectively .', 'note 13 .', 'postemployment and postretirement benefits the company maintains a postretirement plan ( the 201cpostretirement plan 201d ) providing health coverage and life insurance benefits for substantially all of its u.s .', 'employees hired before july 1 , 2007 .', 'the company amended the life insurance benefits under the postretirement plan effective january 1 , 2007 .', 'the impact , net of taxes , of this amendment was an increase of $ 1715 to accumulated other comprehensive income in 2007 .', 'in 2009 , the company recorded a $ 3944 benefit expense as a result of enhanced postretirement medical benefits under the postretirement plan provided to employees that chose to participate in a voluntary transition program. .'] | ----------------------------------------
2010 $ 18181
2011 27090
2012 21548
2013 25513
2014 24002
2015-2019 128494
---------------------------------------- | divide(40627, 35341) | 1.14957 |
what percentage of the outstanding options were from plans approved by security holders? | Context: ['compensation plan approved by security holders .', 'the employee stock purchase plan and the 2005 director stock plan were approved by shareholders at our 2005 annual meeting of shareholders .', 'in connection with our mergers with cbot holdings and nymex holdings , we assumed their existing equity plans .', 'the shares relating to the cbot holdings and nymex holdings plans are listed in the table below as being made under an equity compensation plan approved by security holders based upon the fact that shareholders of the company approved the related merger transactions .', 'plan category number of securities to be issued upon exercise of outstanding options ( a ) weighted-average exercise price of outstanding options ( b ) number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) ( c ) equity compensation plans approved by security holders .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '1211143 $ 308.10 5156223 equity compensation plans not approved by security holders .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '5978 22.00 2014 .']
Data Table:
plan category number of securities to be issued upon exercise of outstanding options ( a ) weighted-average exercise price of outstanding options ( b ) number of securities remaining available for future issuance underequity compensation plans ( excluding securities reflected in column ( a ) ) ( c )
equity compensation plans approved by security holders 1211143 $ 308.10 5156223
equity compensation plans not approved by security holders 5978 22.00 2014
total 1217121 5156223
Follow-up: ['item 13 .', 'certain relationships , related transactions and director independence the information required by this item is included in cme group 2019s proxy statement under the heading 201ccertain business relationships with related parties 201d and 201ccorporate governance 2014director independence 201d and is incorporated herein by reference , pursuant to general instruction g ( 3 ) .', 'item 14 .', 'principal accountant fees and services the information required by this item is included in cme group 2019s proxy statement under the heading 201caudit committee disclosures 2014principal accountant fees and services 201d and 201caudit committee disclosures 2014audit committee policy for approval of audit and permitted non-audit services 201d and is incorporated herein by reference , pursuant to general instruction g ( 3 ) . .'] | 0.99509 | CME/2010/page_123.pdf-4 | ['compensation plan approved by security holders .', 'the employee stock purchase plan and the 2005 director stock plan were approved by shareholders at our 2005 annual meeting of shareholders .', 'in connection with our mergers with cbot holdings and nymex holdings , we assumed their existing equity plans .', 'the shares relating to the cbot holdings and nymex holdings plans are listed in the table below as being made under an equity compensation plan approved by security holders based upon the fact that shareholders of the company approved the related merger transactions .', 'plan category number of securities to be issued upon exercise of outstanding options ( a ) weighted-average exercise price of outstanding options ( b ) number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) ( c ) equity compensation plans approved by security holders .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '1211143 $ 308.10 5156223 equity compensation plans not approved by security holders .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '5978 22.00 2014 .'] | ['item 13 .', 'certain relationships , related transactions and director independence the information required by this item is included in cme group 2019s proxy statement under the heading 201ccertain business relationships with related parties 201d and 201ccorporate governance 2014director independence 201d and is incorporated herein by reference , pursuant to general instruction g ( 3 ) .', 'item 14 .', 'principal accountant fees and services the information required by this item is included in cme group 2019s proxy statement under the heading 201caudit committee disclosures 2014principal accountant fees and services 201d and 201caudit committee disclosures 2014audit committee policy for approval of audit and permitted non-audit services 201d and is incorporated herein by reference , pursuant to general instruction g ( 3 ) . .'] | plan category number of securities to be issued upon exercise of outstanding options ( a ) weighted-average exercise price of outstanding options ( b ) number of securities remaining available for future issuance underequity compensation plans ( excluding securities reflected in column ( a ) ) ( c )
equity compensation plans approved by security holders 1211143 $ 308.10 5156223
equity compensation plans not approved by security holders 5978 22.00 2014
total 1217121 5156223 | divide(1211143, 1217121) | 0.99509 |
from 2009 to 2012 , what percentage return did advance auto parts beat the overall market? | Context: ['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 january 3 , 2009 , 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 january 3 , january 2 , january 1 , december 31 , december 29 , december 28 .']
Tabular Data:
****************************************
company/index january 3 2009 january 2 2010 january 1 2011 december 31 2011 december 29 2012 december 28 2013
advance auto parts $ 100.00 $ 119.28 $ 195.80 $ 206.86 $ 213.14 $ 327.63
s&p 500 index 100.00 119.67 134.97 134.96 150.51 197.62
s&p retail index 100.00 141.28 174.70 179.79 219.77 321.02
****************************************
Additional Information: ['.'] | 62.63 | AAP/2013/page_32.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 january 3 , 2009 , 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 january 3 , january 2 , january 1 , december 31 , december 29 , december 28 .'] | ['.'] | ****************************************
company/index january 3 2009 january 2 2010 january 1 2011 december 31 2011 december 29 2012 december 28 2013
advance auto parts $ 100.00 $ 119.28 $ 195.80 $ 206.86 $ 213.14 $ 327.63
s&p 500 index 100.00 119.67 134.97 134.96 150.51 197.62
s&p retail index 100.00 141.28 174.70 179.79 219.77 321.02
**************************************** | subtract(213.14, const_100), subtract(150.51, const_100), subtract(#0, #1) | 62.63 |
what was the change in ending accrued warranty and related cost between 2006 and 2007 , in millions? | Background: ['notes to consolidated financial statements ( continued ) note 8 2014commitments and contingencies ( continued ) the following table reconciles changes in the company 2019s accrued warranties and related costs ( in millions ) : .']
######
Data Table:
****************************************
Row 1: , 2007, 2006, 2005
Row 2: beginning accrued warranty and related costs, $ 284, $ 188, $ 105
Row 3: cost of warranty claims, -281 ( 281 ), -267 ( 267 ), -188 ( 188 )
Row 4: accruals for product warranties, 227, 363, 271
Row 5: ending accrued warranty and related costs, $ 230, $ 284, $ 188
****************************************
######
Additional Information: ['the company generally does not indemnify end-users of its operating system and application software against legal claims that the software infringes third-party intellectual property rights .', 'other agreements entered into by the company sometimes include indemnification provisions under which the company could be subject to costs and/or damages in the event of an infringement claim against the company or an indemnified third-party .', 'however , the company has not been required to make any significant payments resulting from such an infringement claim asserted against itself or an indemnified third-party and , in the opinion of management , does not have a potential liability related to unresolved infringement claims subject to indemnification that would have a material adverse effect on its financial condition or operating results .', 'therefore , the company did not record a liability for infringement costs as of either september 29 , 2007 or september 30 , 2006 .', 'concentrations in the available sources of supply of materials and product certain key components including , but not limited to , microprocessors , enclosures , certain lcds , certain optical drives , and application-specific integrated circuits ( 2018 2018asics 2019 2019 ) are currently obtained by the company from single or limited sources which subjects the company to supply and pricing risks .', 'many of these and other key components that are available from multiple sources including , but not limited to , nand flash memory , dram memory , and certain lcds , are at times subject to industry-wide shortages and significant commodity pricing fluctuations .', 'in addition , the company has entered into certain agreements for the supply of critical components at favorable pricing , and there is no guarantee that the company will be able to extend or renew these agreements when they expire .', 'therefore , the company remains subject to significant risks of supply shortages and/or price increases that can adversely affect gross margins and operating margins .', 'in addition , the company uses some components that are not common to the rest of the global personal computer , consumer electronics and mobile communication industries , and new products introduced by the company often utilize custom components obtained from only one source until the company has evaluated whether there is a need for and subsequently qualifies additional suppliers .', 'if the supply of a key single-sourced component to the company were to be delayed or curtailed , or in the event a key manufacturing vendor delays shipments of completed products to the company , the company 2019s ability to ship related products in desired quantities and in a timely manner could be adversely affected .', 'the company 2019s business and financial performance could also be adversely affected depending on the time required to obtain sufficient quantities from the original source , or to identify and obtain sufficient quantities from an alternative source .', 'continued availability of these components may be affected if producers were to decide to concentrate on the production of common components instead of components customized to meet the company 2019s requirements .', 'finally , significant portions of the company 2019s cpus , ipods , iphones , logic boards , and other assembled products are now manufactured by outsourcing partners , primarily in various parts of asia .', 'a significant concentration of this outsourced manufacturing is currently performed by only a few of the company 2019s outsourcing partners , often in single locations .', 'certain of these outsourcing partners are the sole-sourced supplier of components and manufacturing outsourcing for many of the company 2019s key products , including but not limited to , assembly .'] | -54.0 | AAPL/2007/page_84.pdf-2 | ['notes to consolidated financial statements ( continued ) note 8 2014commitments and contingencies ( continued ) the following table reconciles changes in the company 2019s accrued warranties and related costs ( in millions ) : .'] | ['the company generally does not indemnify end-users of its operating system and application software against legal claims that the software infringes third-party intellectual property rights .', 'other agreements entered into by the company sometimes include indemnification provisions under which the company could be subject to costs and/or damages in the event of an infringement claim against the company or an indemnified third-party .', 'however , the company has not been required to make any significant payments resulting from such an infringement claim asserted against itself or an indemnified third-party and , in the opinion of management , does not have a potential liability related to unresolved infringement claims subject to indemnification that would have a material adverse effect on its financial condition or operating results .', 'therefore , the company did not record a liability for infringement costs as of either september 29 , 2007 or september 30 , 2006 .', 'concentrations in the available sources of supply of materials and product certain key components including , but not limited to , microprocessors , enclosures , certain lcds , certain optical drives , and application-specific integrated circuits ( 2018 2018asics 2019 2019 ) are currently obtained by the company from single or limited sources which subjects the company to supply and pricing risks .', 'many of these and other key components that are available from multiple sources including , but not limited to , nand flash memory , dram memory , and certain lcds , are at times subject to industry-wide shortages and significant commodity pricing fluctuations .', 'in addition , the company has entered into certain agreements for the supply of critical components at favorable pricing , and there is no guarantee that the company will be able to extend or renew these agreements when they expire .', 'therefore , the company remains subject to significant risks of supply shortages and/or price increases that can adversely affect gross margins and operating margins .', 'in addition , the company uses some components that are not common to the rest of the global personal computer , consumer electronics and mobile communication industries , and new products introduced by the company often utilize custom components obtained from only one source until the company has evaluated whether there is a need for and subsequently qualifies additional suppliers .', 'if the supply of a key single-sourced component to the company were to be delayed or curtailed , or in the event a key manufacturing vendor delays shipments of completed products to the company , the company 2019s ability to ship related products in desired quantities and in a timely manner could be adversely affected .', 'the company 2019s business and financial performance could also be adversely affected depending on the time required to obtain sufficient quantities from the original source , or to identify and obtain sufficient quantities from an alternative source .', 'continued availability of these components may be affected if producers were to decide to concentrate on the production of common components instead of components customized to meet the company 2019s requirements .', 'finally , significant portions of the company 2019s cpus , ipods , iphones , logic boards , and other assembled products are now manufactured by outsourcing partners , primarily in various parts of asia .', 'a significant concentration of this outsourced manufacturing is currently performed by only a few of the company 2019s outsourcing partners , often in single locations .', 'certain of these outsourcing partners are the sole-sourced supplier of components and manufacturing outsourcing for many of the company 2019s key products , including but not limited to , assembly .'] | ****************************************
Row 1: , 2007, 2006, 2005
Row 2: beginning accrued warranty and related costs, $ 284, $ 188, $ 105
Row 3: cost of warranty claims, -281 ( 281 ), -267 ( 267 ), -188 ( 188 )
Row 4: accruals for product warranties, 227, 363, 271
Row 5: ending accrued warranty and related costs, $ 230, $ 284, $ 188
**************************************** | subtract(230, 284) | -54.0 |
how is the cashflow from operations affected by the change in inventories at fifo net? | Context: ['advance auto parts , inc .', 'and subsidiaries notes to the consolidated financial statements december 31 , 2011 , january 1 , 2011 and january 2 , 2010 ( in thousands , except per share data ) 2011-12 superseded certain pending paragraphs in asu 2011-05 201ccomprehensive income 2013 presentation of comprehensive income 201d to effectively defer only those changes in asu 2011-05 that related to the presentation of reclassification adjustments out of accumulated other comprehensive income .', 'the adoption of asu 2011-05 is not expected to have a material impact on the company 2019s consolidated financial condition , results of operations or cash flows .', 'in january 2010 , the fasb issued asu no .', '2010-06 201cfair value measurements and disclosures 2013 improving disclosures about fair value measurements . 201d asu 2010-06 requires new disclosures for significant transfers in and out of level 1 and 2 of the fair value hierarchy and the activity within level 3 of the fair value hierarchy .', 'the updated guidance also clarifies existing disclosures regarding the level of disaggregation of assets or liabilities and the valuation techniques and inputs used to measure fair value .', 'the updated guidance is effective for interim and annual reporting periods beginning after december 15 , 2009 , with the exception of the new level 3 activity disclosures , which are effective for interim and annual reporting periods beginning after december 15 , 2010 .', 'the adoption of asu 2010-06 had no impact on the company 2019s consolidated financial condition , results of operations or cash flows .', '3 .', 'inventories , net : merchandise inventory the company used the lifo method of accounting for approximately 95% ( 95 % ) of inventories at december 31 , 2011 and january 1 , 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 2011 and prior years .', '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 recorded a reduction to cost of sales of $ 29554 and $ 16040 for fiscal 2010 and 2009 , respectively .', 'prior to fiscal 2011 , the company 2019s overall costs to acquire inventory for the same or similar products 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 fifo , at december 31 , 2011 and january 1 , 2011 , were $ 126840 and $ 103989 , respectively .', 'inventory balance and inventory reserves inventory balances at year-end for fiscal 2011 and 2010 were as follows : inventories at fifo , net adjustments to state inventories at lifo inventories at lifo , net december 31 , $ 1941055 102103 $ 2043158 january 1 , $ 1737059 126811 $ 1863870 .']
######
Table:
****************************************
| december 312011 | january 12011
inventories at fifo net | $ 1941055 | $ 1737059
adjustments to state inventories at lifo | 102103 | 126811
inventories at lifo net | $ 2043158 | $ 1863870
****************************************
######
Follow-up: ['advance auto parts , inc .', 'and subsidiaries notes to the consolidated financial statements december 31 , 2011 , january 1 , 2011 and january 2 , 2010 ( in thousands , except per share data ) 2011-12 superseded certain pending paragraphs in asu 2011-05 201ccomprehensive income 2013 presentation of comprehensive income 201d to effectively defer only those changes in asu 2011-05 that related to the presentation of reclassification adjustments out of accumulated other comprehensive income .', 'the adoption of asu 2011-05 is not expected to have a material impact on the company 2019s consolidated financial condition , results of operations or cash flows .', 'in january 2010 , the fasb issued asu no .', '2010-06 201cfair value measurements and disclosures 2013 improving disclosures about fair value measurements . 201d asu 2010-06 requires new disclosures for significant transfers in and out of level 1 and 2 of the fair value hierarchy and the activity within level 3 of the fair value hierarchy .', 'the updated guidance also clarifies existing disclosures regarding the level of disaggregation of assets or liabilities and the valuation techniques and inputs used to measure fair value .', 'the updated guidance is effective for interim and annual reporting periods beginning after december 15 , 2009 , with the exception of the new level 3 activity disclosures , which are effective for interim and annual reporting periods beginning after december 15 , 2010 .', 'the adoption of asu 2010-06 had no impact on the company 2019s consolidated financial condition , results of operations or cash flows .', '3 .', 'inventories , net : merchandise inventory the company used the lifo method of accounting for approximately 95% ( 95 % ) of inventories at december 31 , 2011 and january 1 , 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 2011 and prior years .', '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 recorded a reduction to cost of sales of $ 29554 and $ 16040 for fiscal 2010 and 2009 , respectively .', 'prior to fiscal 2011 , the company 2019s overall costs to acquire inventory for the same or similar products 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 fifo , at december 31 , 2011 and january 1 , 2011 , were $ 126840 and $ 103989 , respectively .', 'inventory balance and inventory reserves inventory balances at year-end for fiscal 2011 and 2010 were as follows : inventories at fifo , net adjustments to state inventories at lifo inventories at lifo , net december 31 , $ 1941055 102103 $ 2043158 january 1 , $ 1737059 126811 $ 1863870 .'] | -203996.0 | AAP/2011/page_63.pdf-1 | ['advance auto parts , inc .', 'and subsidiaries notes to the consolidated financial statements december 31 , 2011 , january 1 , 2011 and january 2 , 2010 ( in thousands , except per share data ) 2011-12 superseded certain pending paragraphs in asu 2011-05 201ccomprehensive income 2013 presentation of comprehensive income 201d to effectively defer only those changes in asu 2011-05 that related to the presentation of reclassification adjustments out of accumulated other comprehensive income .', 'the adoption of asu 2011-05 is not expected to have a material impact on the company 2019s consolidated financial condition , results of operations or cash flows .', 'in january 2010 , the fasb issued asu no .', '2010-06 201cfair value measurements and disclosures 2013 improving disclosures about fair value measurements . 201d asu 2010-06 requires new disclosures for significant transfers in and out of level 1 and 2 of the fair value hierarchy and the activity within level 3 of the fair value hierarchy .', 'the updated guidance also clarifies existing disclosures regarding the level of disaggregation of assets or liabilities and the valuation techniques and inputs used to measure fair value .', 'the updated guidance is effective for interim and annual reporting periods beginning after december 15 , 2009 , with the exception of the new level 3 activity disclosures , which are effective for interim and annual reporting periods beginning after december 15 , 2010 .', 'the adoption of asu 2010-06 had no impact on the company 2019s consolidated financial condition , results of operations or cash flows .', '3 .', 'inventories , net : merchandise inventory the company used the lifo method of accounting for approximately 95% ( 95 % ) of inventories at december 31 , 2011 and january 1 , 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 2011 and prior years .', '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 recorded a reduction to cost of sales of $ 29554 and $ 16040 for fiscal 2010 and 2009 , respectively .', 'prior to fiscal 2011 , the company 2019s overall costs to acquire inventory for the same or similar products 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 fifo , at december 31 , 2011 and january 1 , 2011 , were $ 126840 and $ 103989 , respectively .', 'inventory balance and inventory reserves inventory balances at year-end for fiscal 2011 and 2010 were as follows : inventories at fifo , net adjustments to state inventories at lifo inventories at lifo , net december 31 , $ 1941055 102103 $ 2043158 january 1 , $ 1737059 126811 $ 1863870 .'] | ['advance auto parts , inc .', 'and subsidiaries notes to the consolidated financial statements december 31 , 2011 , january 1 , 2011 and january 2 , 2010 ( in thousands , except per share data ) 2011-12 superseded certain pending paragraphs in asu 2011-05 201ccomprehensive income 2013 presentation of comprehensive income 201d to effectively defer only those changes in asu 2011-05 that related to the presentation of reclassification adjustments out of accumulated other comprehensive income .', 'the adoption of asu 2011-05 is not expected to have a material impact on the company 2019s consolidated financial condition , results of operations or cash flows .', 'in january 2010 , the fasb issued asu no .', '2010-06 201cfair value measurements and disclosures 2013 improving disclosures about fair value measurements . 201d asu 2010-06 requires new disclosures for significant transfers in and out of level 1 and 2 of the fair value hierarchy and the activity within level 3 of the fair value hierarchy .', 'the updated guidance also clarifies existing disclosures regarding the level of disaggregation of assets or liabilities and the valuation techniques and inputs used to measure fair value .', 'the updated guidance is effective for interim and annual reporting periods beginning after december 15 , 2009 , with the exception of the new level 3 activity disclosures , which are effective for interim and annual reporting periods beginning after december 15 , 2010 .', 'the adoption of asu 2010-06 had no impact on the company 2019s consolidated financial condition , results of operations or cash flows .', '3 .', 'inventories , net : merchandise inventory the company used the lifo method of accounting for approximately 95% ( 95 % ) of inventories at december 31 , 2011 and january 1 , 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 2011 and prior years .', '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 recorded a reduction to cost of sales of $ 29554 and $ 16040 for fiscal 2010 and 2009 , respectively .', 'prior to fiscal 2011 , the company 2019s overall costs to acquire inventory for the same or similar products 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 fifo , at december 31 , 2011 and january 1 , 2011 , were $ 126840 and $ 103989 , respectively .', 'inventory balance and inventory reserves inventory balances at year-end for fiscal 2011 and 2010 were as follows : inventories at fifo , net adjustments to state inventories at lifo inventories at lifo , net december 31 , $ 1941055 102103 $ 2043158 january 1 , $ 1737059 126811 $ 1863870 .'] | ****************************************
| december 312011 | january 12011
inventories at fifo net | $ 1941055 | $ 1737059
adjustments to state inventories at lifo | 102103 | 126811
inventories at lifo net | $ 2043158 | $ 1863870
**************************************** | subtract(1737059, 1941055) | -203996.0 |
what is the growth rate in operating income of hr solutions from 2009 to 2010? | Background: ['hr solutions .']
----
Data Table:
Row 1: years ended december 31,, 2010, 2009, 2008
Row 2: revenue, $ 2111, $ 1267, $ 1356
Row 3: operating income, 234, 203, 208
Row 4: operating margin, 11.1% ( 11.1 % ), 16.0% ( 16.0 % ), 15.3% ( 15.3 % )
----
Post-table: ['in october 2010 , we completed the acquisition of hewitt , one of the world 2019s leading human resource consulting and outsourcing companies .', 'hewitt operates globally together with aon 2019s existing consulting and outsourcing operations under the newly created aon hewitt brand .', 'hewitt 2019s operating results are included in aon 2019s results of operations beginning october 1 , 2010 .', 'our hr solutions segment generated approximately 25% ( 25 % ) of our consolidated total revenues in 2010 and provides a broad range of human capital services , as follows : consulting services : 2022 health and benefits advises clients about how to structure , fund , and administer employee benefit programs that attract , retain , and motivate employees .', 'benefits consulting includes health and welfare , executive benefits , workforce strategies and productivity , absence management , benefits administration , data-driven health , compliance , employee commitment , investment advisory and elective benefits services .', '2022 retirement specializes in global actuarial services , defined contribution consulting , investment consulting , tax and erisa consulting , and pension administration .', '2022 compensation focuses on compensatory advisory/counsel including : compensation planning design , executive reward strategies , salary survey and benchmarking , market share studies and sales force effectiveness , with special expertise in the financial services and technology industries .', '2022 strategic human capital delivers advice to complex global organizations on talent , change and organizational effectiveness issues , including talent strategy and acquisition , executive on-boarding , performance management , leadership assessment and development , communication strategy , workforce training and change management .', 'outsourcing services : 2022 benefits outsourcing applies our hr expertise primarily through defined benefit ( pension ) , defined contribution ( 401 ( k ) ) , and health and welfare administrative services .', 'our model replaces the resource-intensive processes once required to administer benefit plans with more efficient , effective , and less costly solutions .', '2022 human resource business processing outsourcing ( 2018 2018hr bpo 2019 2019 ) provides market-leading solutions to manage employee data ; administer benefits , payroll and other human resources processes ; and record and manage talent , workforce and other core hr process transactions as well as other complementary services such as absence management , flexible spending , dependent audit and participant advocacy .', 'beginning in late 2008 , the disruption in the global credit markets and the deterioration of the financial markets created significant uncertainty in the marketplace .', 'weak economic conditions globally continued throughout 2010 .', 'the prolonged economic downturn is adversely impacting our clients 2019 financial condition and therefore the levels of business activities in the industries and geographies where we operate .', 'while we believe that the majority of our practices are well positioned to manage through this time , these challenges are reducing demand for some of our services and putting .'] | 0.15271 | AON/2010/page_55.pdf-3 | ['hr solutions .'] | ['in october 2010 , we completed the acquisition of hewitt , one of the world 2019s leading human resource consulting and outsourcing companies .', 'hewitt operates globally together with aon 2019s existing consulting and outsourcing operations under the newly created aon hewitt brand .', 'hewitt 2019s operating results are included in aon 2019s results of operations beginning october 1 , 2010 .', 'our hr solutions segment generated approximately 25% ( 25 % ) of our consolidated total revenues in 2010 and provides a broad range of human capital services , as follows : consulting services : 2022 health and benefits advises clients about how to structure , fund , and administer employee benefit programs that attract , retain , and motivate employees .', 'benefits consulting includes health and welfare , executive benefits , workforce strategies and productivity , absence management , benefits administration , data-driven health , compliance , employee commitment , investment advisory and elective benefits services .', '2022 retirement specializes in global actuarial services , defined contribution consulting , investment consulting , tax and erisa consulting , and pension administration .', '2022 compensation focuses on compensatory advisory/counsel including : compensation planning design , executive reward strategies , salary survey and benchmarking , market share studies and sales force effectiveness , with special expertise in the financial services and technology industries .', '2022 strategic human capital delivers advice to complex global organizations on talent , change and organizational effectiveness issues , including talent strategy and acquisition , executive on-boarding , performance management , leadership assessment and development , communication strategy , workforce training and change management .', 'outsourcing services : 2022 benefits outsourcing applies our hr expertise primarily through defined benefit ( pension ) , defined contribution ( 401 ( k ) ) , and health and welfare administrative services .', 'our model replaces the resource-intensive processes once required to administer benefit plans with more efficient , effective , and less costly solutions .', '2022 human resource business processing outsourcing ( 2018 2018hr bpo 2019 2019 ) provides market-leading solutions to manage employee data ; administer benefits , payroll and other human resources processes ; and record and manage talent , workforce and other core hr process transactions as well as other complementary services such as absence management , flexible spending , dependent audit and participant advocacy .', 'beginning in late 2008 , the disruption in the global credit markets and the deterioration of the financial markets created significant uncertainty in the marketplace .', 'weak economic conditions globally continued throughout 2010 .', 'the prolonged economic downturn is adversely impacting our clients 2019 financial condition and therefore the levels of business activities in the industries and geographies where we operate .', 'while we believe that the majority of our practices are well positioned to manage through this time , these challenges are reducing demand for some of our services and putting .'] | Row 1: years ended december 31,, 2010, 2009, 2008
Row 2: revenue, $ 2111, $ 1267, $ 1356
Row 3: operating income, 234, 203, 208
Row 4: operating margin, 11.1% ( 11.1 % ), 16.0% ( 16.0 % ), 15.3% ( 15.3 % ) | subtract(234, 203), divide(#0, 203) | 0.15271 |
what is the growth rate in projected payments from 2009 to 2010? | Background: ['projected payments relating to these liabilities for the next five years ending december 31 , 2012 and the period from 2013 to 2017 are as follows ( in thousands ) : .']
########
Data Table:
----------------------------------------
2008 | $ 980
2009 | 1185
2010 | 978
2011 | 1022
2012 | 1425
2013 - 2017 | $ 8147
----------------------------------------
########
Additional Information: ['( 18 ) concentration of risk the company generates a significant amount of revenue from large customers , however , no customers accounted for more than 10% ( 10 % ) of total revenue or total segment revenue in the years ended december 31 , 2007 , 2006 and 2005 .', 'financial instruments that potentially subject the company to concentrations of credit risk consist primarily of cash equivalents and trade receivables .', 'the company places its cash equivalents with high credit quality financial institutions and , by policy , limits the amount of credit exposure with any one financial institution .', 'concentrations of credit risk with respect to trade receivables are limited because a large number of geographically diverse customers make up the company 2019s customer base , thus spreading the trade receivables credit risk .', 'the company controls credit risk through monitoring procedures .', '( 19 ) segment information upon completion of the certegy merger , the company implemented a new organizational structure , which resulted in a new operating segment structure beginning with the reporting of first quarter 2006 results .', 'effective as of february 1 , 2006 , the company 2019s operating segments are tps and lps .', 'this structure reflects how the businesses are operated and managed .', 'the primary components of the tps segment , which includes certegy 2019s card and check services , the financial institution processing component of the former financial institution software and services segment of fis and the operations acquired from efunds , are enterprise solutions , integrated financial solutions and international businesses .', 'the primary components of the lps segment are mortgage information services businesses , which includes the mortgage lender processing component of the former financial institution software and services segment of fis , and the former lender services , default management , and information services segments of fis .', 'fidelity national information services , inc .', 'and subsidiaries and affiliates notes to consolidated and combined financial statements 2014 ( continued ) .'] | -0.17468 | FIS/2007/page_102.pdf-2 | ['projected payments relating to these liabilities for the next five years ending december 31 , 2012 and the period from 2013 to 2017 are as follows ( in thousands ) : .'] | ['( 18 ) concentration of risk the company generates a significant amount of revenue from large customers , however , no customers accounted for more than 10% ( 10 % ) of total revenue or total segment revenue in the years ended december 31 , 2007 , 2006 and 2005 .', 'financial instruments that potentially subject the company to concentrations of credit risk consist primarily of cash equivalents and trade receivables .', 'the company places its cash equivalents with high credit quality financial institutions and , by policy , limits the amount of credit exposure with any one financial institution .', 'concentrations of credit risk with respect to trade receivables are limited because a large number of geographically diverse customers make up the company 2019s customer base , thus spreading the trade receivables credit risk .', 'the company controls credit risk through monitoring procedures .', '( 19 ) segment information upon completion of the certegy merger , the company implemented a new organizational structure , which resulted in a new operating segment structure beginning with the reporting of first quarter 2006 results .', 'effective as of february 1 , 2006 , the company 2019s operating segments are tps and lps .', 'this structure reflects how the businesses are operated and managed .', 'the primary components of the tps segment , which includes certegy 2019s card and check services , the financial institution processing component of the former financial institution software and services segment of fis and the operations acquired from efunds , are enterprise solutions , integrated financial solutions and international businesses .', 'the primary components of the lps segment are mortgage information services businesses , which includes the mortgage lender processing component of the former financial institution software and services segment of fis , and the former lender services , default management , and information services segments of fis .', 'fidelity national information services , inc .', 'and subsidiaries and affiliates notes to consolidated and combined financial statements 2014 ( continued ) .'] | ----------------------------------------
2008 | $ 980
2009 | 1185
2010 | 978
2011 | 1022
2012 | 1425
2013 - 2017 | $ 8147
---------------------------------------- | subtract(978, 1185), divide(#0, 1185) | -0.17468 |
by what percentage did maximum borrowings outstanding increase from 2016 to 2017? | Background: ['the following table summarizes the short-term borrowing activity for awcc for the years ended december 31: .']
Tabular Data:
----------------------------------------
• , 2017, 2016
• average borrowings, $ 779, $ 850
• maximum borrowings outstanding, 1135, 1016
• weighted average interest rates computed on daily basis, 1.24% ( 1.24 % ), 0.78% ( 0.78 % )
• weighted average interest rates as of december 31, 1.61% ( 1.61 % ), 0.98% ( 0.98 % )
----------------------------------------
Follow-up: ['the credit facility requires the company to maintain a ratio of consolidated debt to consolidated capitalization of not more than 0.70 to 1.00 .', 'the ratio as of december 31 , 2017 was 0.59 to 1.00 .', 'none of the company 2019s borrowings are subject to default or prepayment as a result of a downgrading of securities , although such a downgrading could increase fees and interest charges under the company 2019s credit facility .', 'as part of the normal course of business , the company routinely enters contracts for the purchase and sale of water , energy , fuels and other services .', 'these contracts either contain express provisions or otherwise permit the company and its counterparties to demand adequate assurance of future performance when there are reasonable grounds for doing so .', 'in accordance with the contracts and applicable contract law , if the company is downgraded by a credit rating agency , especially if such downgrade is to a level below investment grade , it is possible that a counterparty would attempt to rely on such a downgrade as a basis for making a demand for adequate assurance of future performance .', 'depending on the company 2019s net position with the counterparty , the demand could be for the posting of collateral .', 'in the absence of expressly agreed provisions that specify the collateral that must be provided , the obligation to supply the collateral requested will be a function of the facts and circumstances of the company 2019s situation at the time of the demand .', 'if the company can reasonably claim that it is willing and financially able to perform its obligations , it may be possible that no collateral would need to be posted or that only an amount equal to two or three months of future payments should be sufficient .', 'the company does not expect to post any collateral which will have a material adverse impact on the company 2019s results of operations , financial position or cash flows .', 'note 12 : general taxes the following table summarizes the components of general tax expense for the years ended december 31 : 2017 2016 2015 gross receipts and franchise .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '$ 110 $ 106 $ 99 property and capital stock .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '105 106 98 payroll .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '31 32 31 other general .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '13 14 15 total general taxes .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '$ 259 $ 258 $ 243 .'] | 0.11713 | AWK/2017/page_148.pdf-2 | ['the following table summarizes the short-term borrowing activity for awcc for the years ended december 31: .'] | ['the credit facility requires the company to maintain a ratio of consolidated debt to consolidated capitalization of not more than 0.70 to 1.00 .', 'the ratio as of december 31 , 2017 was 0.59 to 1.00 .', 'none of the company 2019s borrowings are subject to default or prepayment as a result of a downgrading of securities , although such a downgrading could increase fees and interest charges under the company 2019s credit facility .', 'as part of the normal course of business , the company routinely enters contracts for the purchase and sale of water , energy , fuels and other services .', 'these contracts either contain express provisions or otherwise permit the company and its counterparties to demand adequate assurance of future performance when there are reasonable grounds for doing so .', 'in accordance with the contracts and applicable contract law , if the company is downgraded by a credit rating agency , especially if such downgrade is to a level below investment grade , it is possible that a counterparty would attempt to rely on such a downgrade as a basis for making a demand for adequate assurance of future performance .', 'depending on the company 2019s net position with the counterparty , the demand could be for the posting of collateral .', 'in the absence of expressly agreed provisions that specify the collateral that must be provided , the obligation to supply the collateral requested will be a function of the facts and circumstances of the company 2019s situation at the time of the demand .', 'if the company can reasonably claim that it is willing and financially able to perform its obligations , it may be possible that no collateral would need to be posted or that only an amount equal to two or three months of future payments should be sufficient .', 'the company does not expect to post any collateral which will have a material adverse impact on the company 2019s results of operations , financial position or cash flows .', 'note 12 : general taxes the following table summarizes the components of general tax expense for the years ended december 31 : 2017 2016 2015 gross receipts and franchise .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '$ 110 $ 106 $ 99 property and capital stock .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '105 106 98 payroll .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '31 32 31 other general .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '13 14 15 total general taxes .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '$ 259 $ 258 $ 243 .'] | ----------------------------------------
• , 2017, 2016
• average borrowings, $ 779, $ 850
• maximum borrowings outstanding, 1135, 1016
• weighted average interest rates computed on daily basis, 1.24% ( 1.24 % ), 0.78% ( 0.78 % )
• weighted average interest rates as of december 31, 1.61% ( 1.61 % ), 0.98% ( 0.98 % )
---------------------------------------- | subtract(1135, 1016), divide(#0, 1016) | 0.11713 |
in 2017 what was the percent of the cib markets net interest income as part of the managed interest income | Pre-text: ['management 2019s discussion and analysis 58 jpmorgan chase & co./2018 form 10-k net interest income and net yield excluding cib 2019s markets businesses in addition to reviewing net interest income and the net interest yield on a managed basis , management also reviews these metrics excluding cib 2019s markets businesses , as shown below ; these metrics , which exclude cib 2019s markets businesses , are non-gaap financial measures .', 'management reviews these metrics to assess the performance of the firm 2019s lending , investing ( including asset-liability management ) and deposit-raising activities .', 'the resulting metrics that exclude cib 2019s markets businesses are referred to as non-markets-related net interest income and net yield .', 'cib 2019s markets businesses are fixed income markets and equity markets .', 'management believes that disclosure of non-markets-related net interest income and net yield provides investors and analysts with other measures by which to analyze the non-markets-related business trends of the firm and provides a comparable measure to other financial institutions that are primarily focused on lending , investing and deposit-raising activities .', 'year ended december 31 , ( in millions , except rates ) 2018 2017 2016 net interest income 2013 managed basis ( a ) ( b ) $ 55687 $ 51410 $ 47292 less : cib markets net interest income ( c ) 3087 4630 6334 net interest income excluding cib markets ( a ) $ 52600 $ 46780 $ 40958 average interest-earning assets $ 2229188 $ 2180592 $ 2101604 less : average cib markets interest-earning assets ( c ) 609635 540835 520307 average interest-earning assets excluding cib markets $ 1619553 $ 1639757 $ 1581297 net interest yield on average interest-earning assets 2013 managed basis 2.50% ( 2.50 % ) 2.36% ( 2.36 % ) 2.25% ( 2.25 % ) net interest yield on average cib markets interest-earning assets ( c ) 0.51 0.86 1.22 net interest yield on average interest-earning assets excluding cib markets 3.25% ( 3.25 % ) 2.85% ( 2.85 % ) 2.59% ( 2.59 % ) ( a ) interest includes the effect of related hedges .', 'taxable-equivalent amounts are used where applicable .', '( b ) for a reconciliation of net interest income on a reported and managed basis , refer to reconciliation from the firm 2019s reported u.s .', 'gaap results to managed basis on page 57 .', '( c ) for further information on cib 2019s markets businesses , refer to page 69 .', 'calculation of certain u.s .', 'gaap and non-gaap financial measures certain u.s .', 'gaap and non-gaap financial measures are calculated as follows : book value per share ( 201cbvps 201d ) common stockholders 2019 equity at period-end / common shares at period-end overhead ratio total noninterest expense / total net revenue return on assets ( 201croa 201d ) reported net income / total average assets return on common equity ( 201croe 201d ) net income* / average common stockholders 2019 equity return on tangible common equity ( 201crotce 201d ) net income* / average tangible common equity tangible book value per share ( 201ctbvps 201d ) tangible common equity at period-end / common shares at period-end * represents net income applicable to common equity the firm also reviews adjusted expense , which is noninterest expense excluding firmwide legal expense and is therefore a non-gaap financial measure .', 'additionally , certain credit metrics and ratios disclosed by the firm exclude pci loans , and are therefore non-gaap measures .', 'management believes these measures help investors understand the effect of these items on reported results and provide an alternate presentation of the firm 2019s performance .', 'for additional information on credit metrics and ratios excluding pci loans , refer to credit and investment risk management on pages 102-123. .']
######
Data Table:
****************************************
year ended december 31 ( in millions except rates ) | 2018 | 2017 | 2016
net interest income 2013 managed basis ( a ) ( b ) | $ 55687 | $ 51410 | $ 47292
less : cib markets net interest income ( c ) | 3087 | 4630 | 6334
net interest income excluding cib markets ( a ) | $ 52600 | $ 46780 | $ 40958
average interest-earning assets | $ 2229188 | $ 2180592 | $ 2101604
less : average cib markets interest-earning assets ( c ) | 609635 | 540835 | 520307
average interest-earning assets excluding cib markets | $ 1619553 | $ 1639757 | $ 1581297
net interest yield on average interest-earning assets 2013 managed basis | 2.50% ( 2.50 % ) | 2.36% ( 2.36 % ) | 2.25% ( 2.25 % )
net interest yield on average cib markets interest-earning assets ( c ) | 0.51 | 0.86 | 1.22
net interest yield on average interest-earning assets excluding cib markets | 3.25% ( 3.25 % ) | 2.85% ( 2.85 % ) | 2.59% ( 2.59 % )
****************************************
######
Additional Information: ['management 2019s discussion and analysis 58 jpmorgan chase & co./2018 form 10-k net interest income and net yield excluding cib 2019s markets businesses in addition to reviewing net interest income and the net interest yield on a managed basis , management also reviews these metrics excluding cib 2019s markets businesses , as shown below ; these metrics , which exclude cib 2019s markets businesses , are non-gaap financial measures .', 'management reviews these metrics to assess the performance of the firm 2019s lending , investing ( including asset-liability management ) and deposit-raising activities .', 'the resulting metrics that exclude cib 2019s markets businesses are referred to as non-markets-related net interest income and net yield .', 'cib 2019s markets businesses are fixed income markets and equity markets .', 'management believes that disclosure of non-markets-related net interest income and net yield provides investors and analysts with other measures by which to analyze the non-markets-related business trends of the firm and provides a comparable measure to other financial institutions that are primarily focused on lending , investing and deposit-raising activities .', 'year ended december 31 , ( in millions , except rates ) 2018 2017 2016 net interest income 2013 managed basis ( a ) ( b ) $ 55687 $ 51410 $ 47292 less : cib markets net interest income ( c ) 3087 4630 6334 net interest income excluding cib markets ( a ) $ 52600 $ 46780 $ 40958 average interest-earning assets $ 2229188 $ 2180592 $ 2101604 less : average cib markets interest-earning assets ( c ) 609635 540835 520307 average interest-earning assets excluding cib markets $ 1619553 $ 1639757 $ 1581297 net interest yield on average interest-earning assets 2013 managed basis 2.50% ( 2.50 % ) 2.36% ( 2.36 % ) 2.25% ( 2.25 % ) net interest yield on average cib markets interest-earning assets ( c ) 0.51 0.86 1.22 net interest yield on average interest-earning assets excluding cib markets 3.25% ( 3.25 % ) 2.85% ( 2.85 % ) 2.59% ( 2.59 % ) ( a ) interest includes the effect of related hedges .', 'taxable-equivalent amounts are used where applicable .', '( b ) for a reconciliation of net interest income on a reported and managed basis , refer to reconciliation from the firm 2019s reported u.s .', 'gaap results to managed basis on page 57 .', '( c ) for further information on cib 2019s markets businesses , refer to page 69 .', 'calculation of certain u.s .', 'gaap and non-gaap financial measures certain u.s .', 'gaap and non-gaap financial measures are calculated as follows : book value per share ( 201cbvps 201d ) common stockholders 2019 equity at period-end / common shares at period-end overhead ratio total noninterest expense / total net revenue return on assets ( 201croa 201d ) reported net income / total average assets return on common equity ( 201croe 201d ) net income* / average common stockholders 2019 equity return on tangible common equity ( 201crotce 201d ) net income* / average tangible common equity tangible book value per share ( 201ctbvps 201d ) tangible common equity at period-end / common shares at period-end * represents net income applicable to common equity the firm also reviews adjusted expense , which is noninterest expense excluding firmwide legal expense and is therefore a non-gaap financial measure .', 'additionally , certain credit metrics and ratios disclosed by the firm exclude pci loans , and are therefore non-gaap measures .', 'management believes these measures help investors understand the effect of these items on reported results and provide an alternate presentation of the firm 2019s performance .', 'for additional information on credit metrics and ratios excluding pci loans , refer to credit and investment risk management on pages 102-123. .'] | 0.09897 | JPM/2018/page_90.pdf-6 | ['management 2019s discussion and analysis 58 jpmorgan chase & co./2018 form 10-k net interest income and net yield excluding cib 2019s markets businesses in addition to reviewing net interest income and the net interest yield on a managed basis , management also reviews these metrics excluding cib 2019s markets businesses , as shown below ; these metrics , which exclude cib 2019s markets businesses , are non-gaap financial measures .', 'management reviews these metrics to assess the performance of the firm 2019s lending , investing ( including asset-liability management ) and deposit-raising activities .', 'the resulting metrics that exclude cib 2019s markets businesses are referred to as non-markets-related net interest income and net yield .', 'cib 2019s markets businesses are fixed income markets and equity markets .', 'management believes that disclosure of non-markets-related net interest income and net yield provides investors and analysts with other measures by which to analyze the non-markets-related business trends of the firm and provides a comparable measure to other financial institutions that are primarily focused on lending , investing and deposit-raising activities .', 'year ended december 31 , ( in millions , except rates ) 2018 2017 2016 net interest income 2013 managed basis ( a ) ( b ) $ 55687 $ 51410 $ 47292 less : cib markets net interest income ( c ) 3087 4630 6334 net interest income excluding cib markets ( a ) $ 52600 $ 46780 $ 40958 average interest-earning assets $ 2229188 $ 2180592 $ 2101604 less : average cib markets interest-earning assets ( c ) 609635 540835 520307 average interest-earning assets excluding cib markets $ 1619553 $ 1639757 $ 1581297 net interest yield on average interest-earning assets 2013 managed basis 2.50% ( 2.50 % ) 2.36% ( 2.36 % ) 2.25% ( 2.25 % ) net interest yield on average cib markets interest-earning assets ( c ) 0.51 0.86 1.22 net interest yield on average interest-earning assets excluding cib markets 3.25% ( 3.25 % ) 2.85% ( 2.85 % ) 2.59% ( 2.59 % ) ( a ) interest includes the effect of related hedges .', 'taxable-equivalent amounts are used where applicable .', '( b ) for a reconciliation of net interest income on a reported and managed basis , refer to reconciliation from the firm 2019s reported u.s .', 'gaap results to managed basis on page 57 .', '( c ) for further information on cib 2019s markets businesses , refer to page 69 .', 'calculation of certain u.s .', 'gaap and non-gaap financial measures certain u.s .', 'gaap and non-gaap financial measures are calculated as follows : book value per share ( 201cbvps 201d ) common stockholders 2019 equity at period-end / common shares at period-end overhead ratio total noninterest expense / total net revenue return on assets ( 201croa 201d ) reported net income / total average assets return on common equity ( 201croe 201d ) net income* / average common stockholders 2019 equity return on tangible common equity ( 201crotce 201d ) net income* / average tangible common equity tangible book value per share ( 201ctbvps 201d ) tangible common equity at period-end / common shares at period-end * represents net income applicable to common equity the firm also reviews adjusted expense , which is noninterest expense excluding firmwide legal expense and is therefore a non-gaap financial measure .', 'additionally , certain credit metrics and ratios disclosed by the firm exclude pci loans , and are therefore non-gaap measures .', 'management believes these measures help investors understand the effect of these items on reported results and provide an alternate presentation of the firm 2019s performance .', 'for additional information on credit metrics and ratios excluding pci loans , refer to credit and investment risk management on pages 102-123. .'] | ['management 2019s discussion and analysis 58 jpmorgan chase & co./2018 form 10-k net interest income and net yield excluding cib 2019s markets businesses in addition to reviewing net interest income and the net interest yield on a managed basis , management also reviews these metrics excluding cib 2019s markets businesses , as shown below ; these metrics , which exclude cib 2019s markets businesses , are non-gaap financial measures .', 'management reviews these metrics to assess the performance of the firm 2019s lending , investing ( including asset-liability management ) and deposit-raising activities .', 'the resulting metrics that exclude cib 2019s markets businesses are referred to as non-markets-related net interest income and net yield .', 'cib 2019s markets businesses are fixed income markets and equity markets .', 'management believes that disclosure of non-markets-related net interest income and net yield provides investors and analysts with other measures by which to analyze the non-markets-related business trends of the firm and provides a comparable measure to other financial institutions that are primarily focused on lending , investing and deposit-raising activities .', 'year ended december 31 , ( in millions , except rates ) 2018 2017 2016 net interest income 2013 managed basis ( a ) ( b ) $ 55687 $ 51410 $ 47292 less : cib markets net interest income ( c ) 3087 4630 6334 net interest income excluding cib markets ( a ) $ 52600 $ 46780 $ 40958 average interest-earning assets $ 2229188 $ 2180592 $ 2101604 less : average cib markets interest-earning assets ( c ) 609635 540835 520307 average interest-earning assets excluding cib markets $ 1619553 $ 1639757 $ 1581297 net interest yield on average interest-earning assets 2013 managed basis 2.50% ( 2.50 % ) 2.36% ( 2.36 % ) 2.25% ( 2.25 % ) net interest yield on average cib markets interest-earning assets ( c ) 0.51 0.86 1.22 net interest yield on average interest-earning assets excluding cib markets 3.25% ( 3.25 % ) 2.85% ( 2.85 % ) 2.59% ( 2.59 % ) ( a ) interest includes the effect of related hedges .', 'taxable-equivalent amounts are used where applicable .', '( b ) for a reconciliation of net interest income on a reported and managed basis , refer to reconciliation from the firm 2019s reported u.s .', 'gaap results to managed basis on page 57 .', '( c ) for further information on cib 2019s markets businesses , refer to page 69 .', 'calculation of certain u.s .', 'gaap and non-gaap financial measures certain u.s .', 'gaap and non-gaap financial measures are calculated as follows : book value per share ( 201cbvps 201d ) common stockholders 2019 equity at period-end / common shares at period-end overhead ratio total noninterest expense / total net revenue return on assets ( 201croa 201d ) reported net income / total average assets return on common equity ( 201croe 201d ) net income* / average common stockholders 2019 equity return on tangible common equity ( 201crotce 201d ) net income* / average tangible common equity tangible book value per share ( 201ctbvps 201d ) tangible common equity at period-end / common shares at period-end * represents net income applicable to common equity the firm also reviews adjusted expense , which is noninterest expense excluding firmwide legal expense and is therefore a non-gaap financial measure .', 'additionally , certain credit metrics and ratios disclosed by the firm exclude pci loans , and are therefore non-gaap measures .', 'management believes these measures help investors understand the effect of these items on reported results and provide an alternate presentation of the firm 2019s performance .', 'for additional information on credit metrics and ratios excluding pci loans , refer to credit and investment risk management on pages 102-123. .'] | ****************************************
year ended december 31 ( in millions except rates ) | 2018 | 2017 | 2016
net interest income 2013 managed basis ( a ) ( b ) | $ 55687 | $ 51410 | $ 47292
less : cib markets net interest income ( c ) | 3087 | 4630 | 6334
net interest income excluding cib markets ( a ) | $ 52600 | $ 46780 | $ 40958
average interest-earning assets | $ 2229188 | $ 2180592 | $ 2101604
less : average cib markets interest-earning assets ( c ) | 609635 | 540835 | 520307
average interest-earning assets excluding cib markets | $ 1619553 | $ 1639757 | $ 1581297
net interest yield on average interest-earning assets 2013 managed basis | 2.50% ( 2.50 % ) | 2.36% ( 2.36 % ) | 2.25% ( 2.25 % )
net interest yield on average cib markets interest-earning assets ( c ) | 0.51 | 0.86 | 1.22
net interest yield on average interest-earning assets excluding cib markets | 3.25% ( 3.25 % ) | 2.85% ( 2.85 % ) | 2.59% ( 2.59 % )
**************************************** | divide(4630, 46780) | 0.09897 |
what was the percentage change in the losses on debt extinguishment from 2017 to 2018 | Context: ["note 17 2014 sales-type leases and financing receivables in april 2017 , in conjunction with the implementation of a new 201cgo-to-market 201d business model for the company's u.s .", 'dispensing business within the medication management solutions ( 201cmms 201d ) unit of the medical segment , the company amended the terms of certain customer leases for dispensing equipment within the mms unit .', 'the modification provided customers the ability to reduce its dispensing asset base via a return provision , resulting in a more flexible lease term .', 'prior to the modification , these leases were accounted for as sales-type leases in accordance with accounting standards codification topic 840 , "leases" , as the non- cancellable lease term of 5 years exceeded 75% ( 75 % ) of the equipment 2019s estimated useful life and the present value of the minimum lease payments exceeded 90% ( 90 % ) of the equipment 2019s fair value .', 'as a result of the lease modification , the company was required to reassess the classification of the leases due to the amended lease term .', 'accordingly , most amended lease contracts were classified as operating leases beginning in april 2017 .', 'the change in lease classification resulted in a pre-tax charge to earnings in fiscal year 2017 of $ 748 million , which was recorded in other operating expense , net .', 'beginning april 1 , 2017 , revenue associated with these modified contracts has been recognized on a straight-line basis over the remaining lease term , along with depreciation on the reinstated leased assets .', "the company's consolidated financial results in 2018 and 2017 were not materially impacted by the financing receivables remaining subsequent to the lease modification discussed above .", 'note 18 2014 supplemental financial information other income ( expense ) , net .']
######
Tabular Data:
----------------------------------------
( millions of dollars ), 2018, 2017, 2016
losses on debt extinguishment ( a ), $ -16 ( 16 ), $ -73 ( 73 ), $ 2014
vyaire medical-related amounts ( b ), 288, -3 ( 3 ), 2014
other equity investment income, 8, 3, 8
losses on undesignated foreign exchange derivatives net, -14 ( 14 ), -11 ( 11 ), -3 ( 3 )
royalty income ( c ), 51, 2014, 2014
gains on previously held investments ( d ), 2014, 24, 2014
other, 2014, 3, 7
other income ( expense ) net, $ 318, $ -57 ( 57 ), $ 11
----------------------------------------
######
Follow-up: ['( a ) represents losses recognized upon our repurchase and extinguishment of certain senior notes , as further discussed in note 15 .', '( b ) represents amounts related to the company 2019s 2017 divestiture of a controlling interest in its former respiratory solutions business and the subsequent sale in 2018 of the remaining ownership interest .', "the amount in 2018 includes the gain on the sale of the remaining non-controlling interest and transition services agreement income , net of the company's share of equity investee results .", 'the amount in 2017 represents the company 2019s share of equity investee results , net of transition services agreement income .', 'additional disclosures regarding these divestiture transactions are provided in note 10 in the notes to consolidated financial statements .', '( c ) represents the royalty income stream acquired in the bard transaction , net of non-cash purchase accounting amortization .', 'the royalty income stream was previously reported by bard as revenues .', '( d ) represents an acquisition-date accounting gain related to a previously-held equity method investment in an entity the company acquired. .'] | 0.78082 | BDX/2018/page_106.pdf-1 | ["note 17 2014 sales-type leases and financing receivables in april 2017 , in conjunction with the implementation of a new 201cgo-to-market 201d business model for the company's u.s .", 'dispensing business within the medication management solutions ( 201cmms 201d ) unit of the medical segment , the company amended the terms of certain customer leases for dispensing equipment within the mms unit .', 'the modification provided customers the ability to reduce its dispensing asset base via a return provision , resulting in a more flexible lease term .', 'prior to the modification , these leases were accounted for as sales-type leases in accordance with accounting standards codification topic 840 , "leases" , as the non- cancellable lease term of 5 years exceeded 75% ( 75 % ) of the equipment 2019s estimated useful life and the present value of the minimum lease payments exceeded 90% ( 90 % ) of the equipment 2019s fair value .', 'as a result of the lease modification , the company was required to reassess the classification of the leases due to the amended lease term .', 'accordingly , most amended lease contracts were classified as operating leases beginning in april 2017 .', 'the change in lease classification resulted in a pre-tax charge to earnings in fiscal year 2017 of $ 748 million , which was recorded in other operating expense , net .', 'beginning april 1 , 2017 , revenue associated with these modified contracts has been recognized on a straight-line basis over the remaining lease term , along with depreciation on the reinstated leased assets .', "the company's consolidated financial results in 2018 and 2017 were not materially impacted by the financing receivables remaining subsequent to the lease modification discussed above .", 'note 18 2014 supplemental financial information other income ( expense ) , net .'] | ['( a ) represents losses recognized upon our repurchase and extinguishment of certain senior notes , as further discussed in note 15 .', '( b ) represents amounts related to the company 2019s 2017 divestiture of a controlling interest in its former respiratory solutions business and the subsequent sale in 2018 of the remaining ownership interest .', "the amount in 2018 includes the gain on the sale of the remaining non-controlling interest and transition services agreement income , net of the company's share of equity investee results .", 'the amount in 2017 represents the company 2019s share of equity investee results , net of transition services agreement income .', 'additional disclosures regarding these divestiture transactions are provided in note 10 in the notes to consolidated financial statements .', '( c ) represents the royalty income stream acquired in the bard transaction , net of non-cash purchase accounting amortization .', 'the royalty income stream was previously reported by bard as revenues .', '( d ) represents an acquisition-date accounting gain related to a previously-held equity method investment in an entity the company acquired. .'] | ----------------------------------------
( millions of dollars ), 2018, 2017, 2016
losses on debt extinguishment ( a ), $ -16 ( 16 ), $ -73 ( 73 ), $ 2014
vyaire medical-related amounts ( b ), 288, -3 ( 3 ), 2014
other equity investment income, 8, 3, 8
losses on undesignated foreign exchange derivatives net, -14 ( 14 ), -11 ( 11 ), -3 ( 3 )
royalty income ( c ), 51, 2014, 2014
gains on previously held investments ( d ), 2014, 24, 2014
other, 2014, 3, 7
other income ( expense ) net, $ 318, $ -57 ( 57 ), $ 11
---------------------------------------- | subtract(16, 73), divide(57, 73) | 0.78082 |
what percent of the change in net revenue was due to rider revenue? | Context: ['entergy mississippi , inc .', "management's financial discussion and analysis results of operations net income 2008 compared to 2007 net income decreased $ 12.4 million primarily due to higher other operation and maintenance expenses , lower other income , and higher depreciation and amortization expenses , partially offset by higher net revenue .", '2007 compared to 2006 net income increased $ 19.8 million primarily due to higher net revenue , lower other operation and maintenance expenses , higher other income , and lower interest expense , partially offset by higher depreciation and amortization expenses .', 'net revenue 2008 compared to 2007 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges .', 'following is an analysis of the change in net revenue comparing 2008 to 2007 .', 'amount ( in millions ) .']
------
Tabular Data:
****************************************
, amount ( in millions )
2007 net revenue, $ 486.9
attala costs, 9.9
rider revenue, 6.0
base revenue, 5.1
reserve equalization, -2.4 ( 2.4 )
net wholesale revenue, -4.0 ( 4.0 )
other, -2.7 ( 2.7 )
2008 net revenue, $ 498.8
****************************************
------
Follow-up: ['the attala costs variance is primarily due to an increase in the attala power plant costs that are recovered through the power management rider .', 'the net income effect of this recovery in limited to a portion representing an allowed return on equity with the remainder offset by attala power plant costs in other operation and maintenance expenses , depreciation expenses , and taxes other than income taxes .', 'the recovery of attala power plant costs is discussed further in "liquidity and capital resources - uses of capital" below .', 'the rider revenue variance is the result of a storm damage rider that became effective in october 2007 .', 'the establishment of this rider results in an increase in rider revenue and a corresponding increase in other operation and maintenance expense for the storm reserve with no effect on net income .', 'the base revenue variance is primarily due to a formula rate plan increase effective july 2007 .', 'the formula rate plan filing is discussed further in "state and local rate regulation" below .', 'the reserve equalization variance is primarily due to changes in the entergy system generation mix compared to the same period in 2007. .'] | 0.5042 | ETR/2008/page_336.pdf-1 | ['entergy mississippi , inc .', "management's financial discussion and analysis results of operations net income 2008 compared to 2007 net income decreased $ 12.4 million primarily due to higher other operation and maintenance expenses , lower other income , and higher depreciation and amortization expenses , partially offset by higher net revenue .", '2007 compared to 2006 net income increased $ 19.8 million primarily due to higher net revenue , lower other operation and maintenance expenses , higher other income , and lower interest expense , partially offset by higher depreciation and amortization expenses .', 'net revenue 2008 compared to 2007 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges .', 'following is an analysis of the change in net revenue comparing 2008 to 2007 .', 'amount ( in millions ) .'] | ['the attala costs variance is primarily due to an increase in the attala power plant costs that are recovered through the power management rider .', 'the net income effect of this recovery in limited to a portion representing an allowed return on equity with the remainder offset by attala power plant costs in other operation and maintenance expenses , depreciation expenses , and taxes other than income taxes .', 'the recovery of attala power plant costs is discussed further in "liquidity and capital resources - uses of capital" below .', 'the rider revenue variance is the result of a storm damage rider that became effective in october 2007 .', 'the establishment of this rider results in an increase in rider revenue and a corresponding increase in other operation and maintenance expense for the storm reserve with no effect on net income .', 'the base revenue variance is primarily due to a formula rate plan increase effective july 2007 .', 'the formula rate plan filing is discussed further in "state and local rate regulation" below .', 'the reserve equalization variance is primarily due to changes in the entergy system generation mix compared to the same period in 2007. .'] | ****************************************
, amount ( in millions )
2007 net revenue, $ 486.9
attala costs, 9.9
rider revenue, 6.0
base revenue, 5.1
reserve equalization, -2.4 ( 2.4 )
net wholesale revenue, -4.0 ( 4.0 )
other, -2.7 ( 2.7 )
2008 net revenue, $ 498.8
**************************************** | subtract(498.8, 486.9), divide(const_6, #0) | 0.5042 |
what percentage of total highway revenue equipment owned is containers? | Pre-text: ['average highway revenue equipment owned leased total age ( yrs. ) .']
Table:
highway revenue equipment, owned, leased, total, average age ( yrs. )
containers, 33633, 25998, 59631, 8.0
chassis, 22086, 26837, 48923, 9.6
total highway revenue equipment, 55719, 52835, 108554, n/a
Additional Information: ['capital expenditures our rail network requires significant annual capital investments for replacement , improvement , and expansion .', 'these investments enhance safety , support the transportation needs of our customers , and improve our operational efficiency .', 'additionally , we add new locomotives and freight cars to our fleet to replace older , less efficient equipment , to support growth and customer demand , and to reduce our impact on the environment through the acquisition of more fuel-efficient and low-emission locomotives .', '2015 capital program 2013 during 2015 , our capital program totaled $ 4.3 billion .', '( see the cash capital expenditures table in management 2019s discussion and analysis of financial condition and results of operations 2013 liquidity and capital resources , item 7. ) 2016 capital plan 2013 in 2016 , we expect our capital plan to be approximately $ 3.75 billion , which will include expenditures for ptc of approximately $ 375 million and may include non-cash investments .', 'we may revise our 2016 capital plan if business conditions warrant or if new laws or regulations affect our ability to generate sufficient returns on these investments .', '( see discussion of our 2016 capital plan in management 2019s discussion and analysis of financial condition and results of operations 2013 2016 outlook , item 7. ) equipment encumbrances 2013 equipment with a carrying value of approximately $ 2.6 billion and $ 2.8 billion at december 31 , 2015 , and 2014 , respectively served as collateral for capital leases and other types of equipment obligations in accordance with the secured financing arrangements utilized to acquire or refinance such railroad equipment .', 'as a result of the merger of missouri pacific railroad company ( mprr ) with and into uprr on january 1 , 1997 , and pursuant to the underlying indentures for the mprr mortgage bonds , uprr must maintain the same value of assets after the merger in order to comply with the security requirements of the mortgage bonds .', 'as of the merger date , the value of the mprr assets that secured the mortgage bonds was approximately $ 6.0 billion .', 'in accordance with the terms of the indentures , this collateral value must be maintained during the entire term of the mortgage bonds irrespective of the outstanding balance of such bonds .', 'environmental matters 2013 certain of our properties are subject to federal , state , and local laws and regulations governing the protection of the environment .', '( see discussion of environmental issues in business 2013 governmental and environmental regulation , item 1 , and management 2019s discussion and analysis of financial condition and results of operations 2013 critical accounting policies 2013 environmental , item 7. ) item 3 .', 'legal proceedings from time to time , we are involved in legal proceedings , claims , and litigation that occur in connection with our business .', 'we routinely assess our liabilities and contingencies in connection with these matters based upon the latest available information and , when necessary , we seek input from our third-party advisors when making these assessments .', 'consistent with sec rules and requirements , we describe below material pending legal proceedings ( other than ordinary routine litigation incidental to our business ) , material proceedings known to be contemplated by governmental authorities , other proceedings arising under federal , state , or local environmental laws and regulations ( including governmental proceedings involving potential fines , penalties , or other monetary sanctions in excess of $ 100000 ) , and such other pending matters that we may determine to be appropriate. .'] | 0.60362 | UNP/2015/page_16.pdf-1 | ['average highway revenue equipment owned leased total age ( yrs. ) .'] | ['capital expenditures our rail network requires significant annual capital investments for replacement , improvement , and expansion .', 'these investments enhance safety , support the transportation needs of our customers , and improve our operational efficiency .', 'additionally , we add new locomotives and freight cars to our fleet to replace older , less efficient equipment , to support growth and customer demand , and to reduce our impact on the environment through the acquisition of more fuel-efficient and low-emission locomotives .', '2015 capital program 2013 during 2015 , our capital program totaled $ 4.3 billion .', '( see the cash capital expenditures table in management 2019s discussion and analysis of financial condition and results of operations 2013 liquidity and capital resources , item 7. ) 2016 capital plan 2013 in 2016 , we expect our capital plan to be approximately $ 3.75 billion , which will include expenditures for ptc of approximately $ 375 million and may include non-cash investments .', 'we may revise our 2016 capital plan if business conditions warrant or if new laws or regulations affect our ability to generate sufficient returns on these investments .', '( see discussion of our 2016 capital plan in management 2019s discussion and analysis of financial condition and results of operations 2013 2016 outlook , item 7. ) equipment encumbrances 2013 equipment with a carrying value of approximately $ 2.6 billion and $ 2.8 billion at december 31 , 2015 , and 2014 , respectively served as collateral for capital leases and other types of equipment obligations in accordance with the secured financing arrangements utilized to acquire or refinance such railroad equipment .', 'as a result of the merger of missouri pacific railroad company ( mprr ) with and into uprr on january 1 , 1997 , and pursuant to the underlying indentures for the mprr mortgage bonds , uprr must maintain the same value of assets after the merger in order to comply with the security requirements of the mortgage bonds .', 'as of the merger date , the value of the mprr assets that secured the mortgage bonds was approximately $ 6.0 billion .', 'in accordance with the terms of the indentures , this collateral value must be maintained during the entire term of the mortgage bonds irrespective of the outstanding balance of such bonds .', 'environmental matters 2013 certain of our properties are subject to federal , state , and local laws and regulations governing the protection of the environment .', '( see discussion of environmental issues in business 2013 governmental and environmental regulation , item 1 , and management 2019s discussion and analysis of financial condition and results of operations 2013 critical accounting policies 2013 environmental , item 7. ) item 3 .', 'legal proceedings from time to time , we are involved in legal proceedings , claims , and litigation that occur in connection with our business .', 'we routinely assess our liabilities and contingencies in connection with these matters based upon the latest available information and , when necessary , we seek input from our third-party advisors when making these assessments .', 'consistent with sec rules and requirements , we describe below material pending legal proceedings ( other than ordinary routine litigation incidental to our business ) , material proceedings known to be contemplated by governmental authorities , other proceedings arising under federal , state , or local environmental laws and regulations ( including governmental proceedings involving potential fines , penalties , or other monetary sanctions in excess of $ 100000 ) , and such other pending matters that we may determine to be appropriate. .'] | highway revenue equipment, owned, leased, total, average age ( yrs. )
containers, 33633, 25998, 59631, 8.0
chassis, 22086, 26837, 48923, 9.6
total highway revenue equipment, 55719, 52835, 108554, n/a | divide(33633, 55719) | 0.60362 |
what was the average approximate vested performance share units from 2011 to 2013 | Context: ['the fair value of performance awards is calculated using the market value of a share of snap-on 2019s common stock on the date of grant .', 'the weighted-average grant date fair value of performance awards granted during 2013 , 2012 and 2011 was $ 77.33 , $ 60.00 and $ 55.97 , respectively .', 'vested performance share units approximated 148000 shares as of 2013 year end , 213000 shares as of 2012 year end and 54208 shares as of 2011 year end .', 'performance share units of 213459 shares were paid out in 2013 and 53990 shares were paid out in 2012 ; no performance share units were paid out in 2011 .', 'earned performance share units are generally paid out following the conclusion of the applicable performance period upon approval by the organization and executive compensation committee of the company 2019s board of directors ( the 201cboard 201d ) .', 'based on the company 2019s 2013 performance , 84413 rsus granted in 2013 were earned ; assuming continued employment , these rsus will vest at the end of fiscal 2015 .', 'based on the company 2019s 2012 performance , 95047 rsus granted in 2012 were earned ; assuming continued employment , these rsus will vest at the end of fiscal 2014 .', 'based on the company 2019s 2011 performance , 159970 rsus granted in 2011 were earned ; these rsus vested as of fiscal 2013 year end and were paid out shortly thereafter .', 'as a result of employee retirements , a total of 1614 of the rsus earned in 2012 and 2011 vested pursuant to the terms of the related award agreements and the underlying shares were paid out in the third quarter of 2013 .', 'the changes to the company 2019s non-vested performance awards in 2013 are as follows : shares ( in thousands ) fair value price per share* .']
##########
Table:
• , shares ( in thousands ), fair valueprice pershare*
• non-vested performance awards at beginning of year, 509, $ 59.36
• granted, 180, 77.33
• vested, -306 ( 306 ), 58.94
• cancellations, -2 ( 2 ), 69.23
• non-vested performance awards at end of year, 381, 68.13
##########
Follow-up: ['* weighted-average as of 2013 year end there was approximately $ 12.9 million of unrecognized compensation cost related to non-vested performance awards that is expected to be recognized as a charge to earnings over a weighted-average period of 1.6 years .', 'stock appreciation rights ( 201csars 201d ) the company also issues cash-settled and stock-settled sars to certain key non-u.s .', 'employees .', 'sars have a contractual term of ten years and vest ratably on the first , second and third anniversaries of the date of grant .', 'sars are granted with an exercise price equal to the market value of a share of snap-on 2019s common stock on the date of grant .', 'cash-settled sars provide for the cash payment of the excess of the fair market value of snap-on 2019s common stock price on the date of exercise over the grant price .', 'cash-settled sars have no effect on dilutive shares or shares outstanding as any appreciation of snap-on 2019s common stock value over the grant price is paid in cash and not in common stock .', 'in 2013 , the company began issuing stock-settled sars that are accounted for as equity instruments and provide for the issuance of snap-on common stock equal to the amount by which the company 2019s stock has appreciated over the exercise price .', 'stock-settled sars have an effect on dilutive shares and shares outstanding as any appreciation of snap-on 2019s common stock value over the exercise price will be settled in shares of common stock .', '2013 annual report 101 .'] | 415208.0 | SNA/2013/page_111.pdf-4 | ['the fair value of performance awards is calculated using the market value of a share of snap-on 2019s common stock on the date of grant .', 'the weighted-average grant date fair value of performance awards granted during 2013 , 2012 and 2011 was $ 77.33 , $ 60.00 and $ 55.97 , respectively .', 'vested performance share units approximated 148000 shares as of 2013 year end , 213000 shares as of 2012 year end and 54208 shares as of 2011 year end .', 'performance share units of 213459 shares were paid out in 2013 and 53990 shares were paid out in 2012 ; no performance share units were paid out in 2011 .', 'earned performance share units are generally paid out following the conclusion of the applicable performance period upon approval by the organization and executive compensation committee of the company 2019s board of directors ( the 201cboard 201d ) .', 'based on the company 2019s 2013 performance , 84413 rsus granted in 2013 were earned ; assuming continued employment , these rsus will vest at the end of fiscal 2015 .', 'based on the company 2019s 2012 performance , 95047 rsus granted in 2012 were earned ; assuming continued employment , these rsus will vest at the end of fiscal 2014 .', 'based on the company 2019s 2011 performance , 159970 rsus granted in 2011 were earned ; these rsus vested as of fiscal 2013 year end and were paid out shortly thereafter .', 'as a result of employee retirements , a total of 1614 of the rsus earned in 2012 and 2011 vested pursuant to the terms of the related award agreements and the underlying shares were paid out in the third quarter of 2013 .', 'the changes to the company 2019s non-vested performance awards in 2013 are as follows : shares ( in thousands ) fair value price per share* .'] | ['* weighted-average as of 2013 year end there was approximately $ 12.9 million of unrecognized compensation cost related to non-vested performance awards that is expected to be recognized as a charge to earnings over a weighted-average period of 1.6 years .', 'stock appreciation rights ( 201csars 201d ) the company also issues cash-settled and stock-settled sars to certain key non-u.s .', 'employees .', 'sars have a contractual term of ten years and vest ratably on the first , second and third anniversaries of the date of grant .', 'sars are granted with an exercise price equal to the market value of a share of snap-on 2019s common stock on the date of grant .', 'cash-settled sars provide for the cash payment of the excess of the fair market value of snap-on 2019s common stock price on the date of exercise over the grant price .', 'cash-settled sars have no effect on dilutive shares or shares outstanding as any appreciation of snap-on 2019s common stock value over the grant price is paid in cash and not in common stock .', 'in 2013 , the company began issuing stock-settled sars that are accounted for as equity instruments and provide for the issuance of snap-on common stock equal to the amount by which the company 2019s stock has appreciated over the exercise price .', 'stock-settled sars have an effect on dilutive shares and shares outstanding as any appreciation of snap-on 2019s common stock value over the exercise price will be settled in shares of common stock .', '2013 annual report 101 .'] | • , shares ( in thousands ), fair valueprice pershare*
• non-vested performance awards at beginning of year, 509, $ 59.36
• granted, 180, 77.33
• vested, -306 ( 306 ), 58.94
• cancellations, -2 ( 2 ), 69.23
• non-vested performance awards at end of year, 381, 68.13 | add(148000, 213000), add(54208, #0) | 415208.0 |
what was the sum of the promissory notes totaling approximately issued as part of the plan business acquisitions from 2008 to 2010 in millions | Context: ['( v ) bankruptcy , insolvency , or other similar proceedings , ( vi ) our inability to pay debts , ( vii ) judgment defaults of $ 15 million or more , ( viii ) customary erisa and environmental defaults , ( ix ) actual or asserted invalidity of any material provision of the loan documentation or impairment of a portion of the collateral , ( x ) failure of subordinated indebtedness to be validly and sufficiently subordinated , and ( xi ) a change of control .', 'borrowings under the credit agreement accrue interest at variable rates , which depend on the type ( u.s .', 'dollar or canadian dollar ) and duration of the borrowing , plus an applicable margin rate .', 'the weighted-average interest rates , including the effect of interest rate swap agreements , on borrowings outstanding against our senior secured credit facility at december 31 , 2010 and 2009 were 3.97% ( 3.97 % ) and 4.53% ( 4.53 % ) , respectively .', 'borrowings against the senior secured credit facility totaled $ 590.1 million and $ 595.7 million at december 31 , 2010 and 2009 , respectively , of which $ 50.0 million and $ 7.5 million were classified as current maturities , respectively .', 'we also incur commitment fees on the unused portion of our revolving credit facility ranging from 0.38% ( 0.38 % ) to 0.50% ( 0.50 % ) .', 'as part of the consideration for business acquisitions completed during 2010 , 2009 and 2008 , we issued promissory notes totaling approximately $ 5.5 million , $ 1.2 million and $ 1.6 million , respectively .', 'the notes bear interest at annual rates of 2.0% ( 2.0 % ) to 4.0% ( 4.0 % ) , and interest is payable at maturity or in monthly installments .', 'note 6 .', 'derivative instruments and hedging activities we are exposed to market risks , including the effect of changes in interest rates , foreign currency exchange rates and commodity prices .', 'under our current policies , we use derivatives to manage our exposure to variable interest rates on our credit agreement , but we do not attempt to hedge our foreign currency and commodity price risks .', 'we do not hold or issue derivatives for trading purposes .', 'at december 31 , 2010 , we had interest rate swap agreements in place to hedge a portion of the variable interest rate risk on our variable rate term loans , with the objective of minimizing the impact of interest rate fluctuations and stabilizing cash flows .', 'beginning on the effective dates of the interest rate swap agreements , on a monthly basis through the maturity date , we have paid and will pay the fixed interest rate and have received and will receive payment at a variable rate of interest based on the london interbank offered rate ( 201clibor 201d ) on the notional amount .', 'the interest rate swap agreements qualify as cash flow hedges , and we have elected to apply hedge accounting for these swap agreements .', 'as a result , the effective portion of changes in the fair value of the interest rate swap agreements is recorded in other comprehensive income and is reclassified to interest expense when the underlying interest payment has an impact on earnings .', 'the ineffective portion of changes in the fair value of the interest rate swap agreements is reported in interest expense .', 'the following table summarizes the terms of our interest rate swap agreements as of december 31 , 2010: .']
------
Table:
----------------------------------------
• notional amount, effective date, maturity date, fixed interest rate*
• $ 200000000, april 14 2008, april 14 2011, 4.99% ( 4.99 % )
• $ 250000000, october 14 2010, october 14 2015, 3.81% ( 3.81 % )
• $ 100000000, april 14 2011, october 14 2013, 3.34% ( 3.34 % )
----------------------------------------
------
Post-table: ['* includes applicable margin of 2.25% ( 2.25 % ) per annum currently in effect under the credit agreement as of december 31 , 2010 , the fair market value of the $ 200 million notional amount swap was a liability of $ 1.4 million , included in other accrued expenses on our consolidated balance sheet .', 'the fair market value of the other swap contracts was an asset of $ 4.8 million , included in other assets on our consolidated balance sheet as of december 31 , 2010 .', 'as of december 31 , 2009 , the fair market value of the interest rate swap contracts was a liability of $ 10.2 million and was included in other accrued expenses ( $ 5.0 million ) and other noncurrent liabilities ( $ 5.2 million ) on our consolidated balance sheet. .'] | 8.3 | LKQ/2010/page_81.pdf-1 | ['( v ) bankruptcy , insolvency , or other similar proceedings , ( vi ) our inability to pay debts , ( vii ) judgment defaults of $ 15 million or more , ( viii ) customary erisa and environmental defaults , ( ix ) actual or asserted invalidity of any material provision of the loan documentation or impairment of a portion of the collateral , ( x ) failure of subordinated indebtedness to be validly and sufficiently subordinated , and ( xi ) a change of control .', 'borrowings under the credit agreement accrue interest at variable rates , which depend on the type ( u.s .', 'dollar or canadian dollar ) and duration of the borrowing , plus an applicable margin rate .', 'the weighted-average interest rates , including the effect of interest rate swap agreements , on borrowings outstanding against our senior secured credit facility at december 31 , 2010 and 2009 were 3.97% ( 3.97 % ) and 4.53% ( 4.53 % ) , respectively .', 'borrowings against the senior secured credit facility totaled $ 590.1 million and $ 595.7 million at december 31 , 2010 and 2009 , respectively , of which $ 50.0 million and $ 7.5 million were classified as current maturities , respectively .', 'we also incur commitment fees on the unused portion of our revolving credit facility ranging from 0.38% ( 0.38 % ) to 0.50% ( 0.50 % ) .', 'as part of the consideration for business acquisitions completed during 2010 , 2009 and 2008 , we issued promissory notes totaling approximately $ 5.5 million , $ 1.2 million and $ 1.6 million , respectively .', 'the notes bear interest at annual rates of 2.0% ( 2.0 % ) to 4.0% ( 4.0 % ) , and interest is payable at maturity or in monthly installments .', 'note 6 .', 'derivative instruments and hedging activities we are exposed to market risks , including the effect of changes in interest rates , foreign currency exchange rates and commodity prices .', 'under our current policies , we use derivatives to manage our exposure to variable interest rates on our credit agreement , but we do not attempt to hedge our foreign currency and commodity price risks .', 'we do not hold or issue derivatives for trading purposes .', 'at december 31 , 2010 , we had interest rate swap agreements in place to hedge a portion of the variable interest rate risk on our variable rate term loans , with the objective of minimizing the impact of interest rate fluctuations and stabilizing cash flows .', 'beginning on the effective dates of the interest rate swap agreements , on a monthly basis through the maturity date , we have paid and will pay the fixed interest rate and have received and will receive payment at a variable rate of interest based on the london interbank offered rate ( 201clibor 201d ) on the notional amount .', 'the interest rate swap agreements qualify as cash flow hedges , and we have elected to apply hedge accounting for these swap agreements .', 'as a result , the effective portion of changes in the fair value of the interest rate swap agreements is recorded in other comprehensive income and is reclassified to interest expense when the underlying interest payment has an impact on earnings .', 'the ineffective portion of changes in the fair value of the interest rate swap agreements is reported in interest expense .', 'the following table summarizes the terms of our interest rate swap agreements as of december 31 , 2010: .'] | ['* includes applicable margin of 2.25% ( 2.25 % ) per annum currently in effect under the credit agreement as of december 31 , 2010 , the fair market value of the $ 200 million notional amount swap was a liability of $ 1.4 million , included in other accrued expenses on our consolidated balance sheet .', 'the fair market value of the other swap contracts was an asset of $ 4.8 million , included in other assets on our consolidated balance sheet as of december 31 , 2010 .', 'as of december 31 , 2009 , the fair market value of the interest rate swap contracts was a liability of $ 10.2 million and was included in other accrued expenses ( $ 5.0 million ) and other noncurrent liabilities ( $ 5.2 million ) on our consolidated balance sheet. .'] | ----------------------------------------
• notional amount, effective date, maturity date, fixed interest rate*
• $ 200000000, april 14 2008, april 14 2011, 4.99% ( 4.99 % )
• $ 250000000, october 14 2010, october 14 2015, 3.81% ( 3.81 % )
• $ 100000000, april 14 2011, october 14 2013, 3.34% ( 3.34 % )
---------------------------------------- | add(5.5, 1.2), add(#0, 1.6) | 8.3 |
what is the estimated price of hologic common stock used in the acquisition of suros? | Pre-text: ['hologic , inc .', 'notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) 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 .', '( 201csuros 201d ) , 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 4600 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 final purchase price , consists of the following approximate amounts: .']
Table:
========================================
Row 1: net tangible assets acquired as of july 27 2006, $ 13100
Row 2: in-process research and development, 4900
Row 3: developed technology and know-how, 46000
Row 4: customer relationship, 17900
Row 5: trade name, 5800
Row 6: deferred income taxes, -21300 ( 21300 )
Row 7: goodwill, 181700
Row 8: final purchase price, $ 248100
========================================
Post-table: ['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 .', 'the company has considered the provision of eitf issue no .', '95-8 , accounting for contingent consideration paid to the shareholders of and acquired enterprise in a purchase business combination , and concluded that this contingent consideration represents additional purchase price .', 'during the fourth quarter of fiscal 2007 the company paid approximately $ 19000 to former suros shareholders for the first annual earn-out period resulting in an increase to goodwill for the same amount .', 'the company also accrued $ 24500 for the second and final earn-out related to suros 2019 incremental revenue growth during the fourth quarter of fiscal 2008 , with an increase to goodwill , of which $ 24400 had been paid as of september 27 , 2008 .', 'in addition to the earn-out discussed above , the company decreased goodwill in the amount of $ 1300 during the year ended september 27 , 2008 and increased goodwill in the amount of $ 210 during the year ended september 29 , 2007 .', 'the increase in 2007 was primarily related to recording a liability of approximately $ 550 in accordance with eitf 95-3 related to the termination of certain employees who have ceased all services for the company .', 'approximately $ 400 of this liability was paid during the year ended september 29 , 2007 and the balance was paid during fiscal 2008 .', 'this increase was partially offset by a decrease to goodwill as a result of a change in the valuation of certain assets and liabilities acquired based on information received during the year ended september 29 , 2007 .', 'the decrease in goodwill during 2008 was related to the reduction of an income tax liability .', 'there have been no other material changes to purchase price allocations. .'] | 23.15217 | HOLX/2008/page_144.pdf-1 | ['hologic , inc .', 'notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) 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 .', '( 201csuros 201d ) , 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 4600 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 final 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 .', 'the company has considered the provision of eitf issue no .', '95-8 , accounting for contingent consideration paid to the shareholders of and acquired enterprise in a purchase business combination , and concluded that this contingent consideration represents additional purchase price .', 'during the fourth quarter of fiscal 2007 the company paid approximately $ 19000 to former suros shareholders for the first annual earn-out period resulting in an increase to goodwill for the same amount .', 'the company also accrued $ 24500 for the second and final earn-out related to suros 2019 incremental revenue growth during the fourth quarter of fiscal 2008 , with an increase to goodwill , of which $ 24400 had been paid as of september 27 , 2008 .', 'in addition to the earn-out discussed above , the company decreased goodwill in the amount of $ 1300 during the year ended september 27 , 2008 and increased goodwill in the amount of $ 210 during the year ended september 29 , 2007 .', 'the increase in 2007 was primarily related to recording a liability of approximately $ 550 in accordance with eitf 95-3 related to the termination of certain employees who have ceased all services for the company .', 'approximately $ 400 of this liability was paid during the year ended september 29 , 2007 and the balance was paid during fiscal 2008 .', 'this increase was partially offset by a decrease to goodwill as a result of a change in the valuation of certain assets and liabilities acquired based on information received during the year ended september 29 , 2007 .', 'the decrease in goodwill during 2008 was related to the reduction of an income tax liability .', 'there have been no other material changes to purchase price allocations. .'] | ========================================
Row 1: net tangible assets acquired as of july 27 2006, $ 13100
Row 2: in-process research and development, 4900
Row 3: developed technology and know-how, 46000
Row 4: customer relationship, 17900
Row 5: trade name, 5800
Row 6: deferred income taxes, -21300 ( 21300 )
Row 7: goodwill, 181700
Row 8: final purchase price, $ 248100
======================================== | divide(106500, 4600) | 23.15217 |
what is the annual interest expense related to series first mortgage bonds due may 2018 , in millions? | Pre-text: ['entergy gulf states louisiana , l.l.c .', "management's financial discussion and analysis sources of capital entergy gulf states louisiana's sources to meet its capital requirements include : internally generated funds ; cash on hand ; debt or preferred membership interest issuances ; and bank financing under new or existing facilities .", 'entergy gulf states louisiana may refinance or redeem debt and preferred equity/membership interests prior to maturity , to the extent market conditions and interest and dividend rates are favorable .', 'all debt and common and preferred equity/membership interest issuances by entergy gulf states louisiana require prior regulatory approval .', 'preferred equity/membership interest and debt issuances are also subject to issuance tests set forth in its corporate charter , bond indentures , and other agreements .', 'entergy gulf states louisiana has sufficient capacity under these tests to meet its foreseeable capital needs .', 'entergy gulf states , inc .', 'filed with the ferc an application , on behalf of entergy gulf states louisiana , for authority to issue up to $ 200 million of short- term debt , up to $ 500 million of tax-exempt bonds and up to $ 750 million of other long-term securities , including common and preferred membership interests and long-term debt .', 'on november 8 , 2007 the ferc issued orders granting the requested authority for a two-year period ending november 8 , 2009 .', "entergy gulf states louisiana's receivables from or ( payables to ) the money pool were as follows as of december 31 for each of the following years: ."]
Table:
****************************************
Row 1: 2008, 2007, 2006, 2005
Row 2: ( in thousands ), ( in thousands ), ( in thousands ), ( in thousands )
Row 3: $ 11589, $ 55509, $ 75048, $ 64011
****************************************
Post-table: ['see note 4 to the financial statements for a description of the money pool .', 'entergy gulf states louisiana has a credit facility in the amount of $ 100 million scheduled to expire in august 2012 .', 'no borrowings were outstanding under the credit facility as of december 31 , 2008 .', 'in may 2008 , entergy gulf states louisiana issued $ 375 million of 6.00% ( 6.00 % ) series first mortgage bonds due may 2018 .', 'the proceeds were used to pay at maturity the portion of the $ 325 million of 3.6% ( 3.6 % ) series first mortgage bonds due june 2008 that had not been assumed by entergy texas and to redeem , prior to maturity , $ 189.7 million of the $ 350 million floating rate series of first mortgage bonds due december 2008 , and for other general corporate purposes .', 'the portion of the $ 325 million of 3.6% ( 3.6 % ) series first mortgage bonds due june 2008 that had been assumed by entergy texas were paid at maturity by entergy texas in june 2008 , and that bond series is no longer outstanding .', 'the portion of the $ 350 million floating rate series of first mortgage bonds due december 2008 that had been assumed by entergy texas were paid at maturity by entergy texas in december 2008 , and that bond series is no longer outstanding .', "hurricane rita and hurricane katrina in august and september 2005 , hurricanes katrina and rita hit entergy gulf states inc.'s jurisdictions in louisiana and texas .", 'the storms resulted in power outages ; significant damage to electric distribution , transmission , and generation infrastructure ; and the temporary loss of sales and customers due to mandatory evacuations .', 'entergy gulf states louisiana is pursuing a range of initiatives to recover storm restoration and business continuity costs and incremental losses .', 'initiatives include obtaining reimbursement of certain costs covered by insurance and pursuing recovery through existing or new rate mechanisms regulated by the ferc and local regulatory bodies , in combination with securitization. .'] | 22.5 | ETR/2008/page_298.pdf-1 | ['entergy gulf states louisiana , l.l.c .', "management's financial discussion and analysis sources of capital entergy gulf states louisiana's sources to meet its capital requirements include : internally generated funds ; cash on hand ; debt or preferred membership interest issuances ; and bank financing under new or existing facilities .", 'entergy gulf states louisiana may refinance or redeem debt and preferred equity/membership interests prior to maturity , to the extent market conditions and interest and dividend rates are favorable .', 'all debt and common and preferred equity/membership interest issuances by entergy gulf states louisiana require prior regulatory approval .', 'preferred equity/membership interest and debt issuances are also subject to issuance tests set forth in its corporate charter , bond indentures , and other agreements .', 'entergy gulf states louisiana has sufficient capacity under these tests to meet its foreseeable capital needs .', 'entergy gulf states , inc .', 'filed with the ferc an application , on behalf of entergy gulf states louisiana , for authority to issue up to $ 200 million of short- term debt , up to $ 500 million of tax-exempt bonds and up to $ 750 million of other long-term securities , including common and preferred membership interests and long-term debt .', 'on november 8 , 2007 the ferc issued orders granting the requested authority for a two-year period ending november 8 , 2009 .', "entergy gulf states louisiana's receivables from or ( payables to ) the money pool were as follows as of december 31 for each of the following years: ."] | ['see note 4 to the financial statements for a description of the money pool .', 'entergy gulf states louisiana has a credit facility in the amount of $ 100 million scheduled to expire in august 2012 .', 'no borrowings were outstanding under the credit facility as of december 31 , 2008 .', 'in may 2008 , entergy gulf states louisiana issued $ 375 million of 6.00% ( 6.00 % ) series first mortgage bonds due may 2018 .', 'the proceeds were used to pay at maturity the portion of the $ 325 million of 3.6% ( 3.6 % ) series first mortgage bonds due june 2008 that had not been assumed by entergy texas and to redeem , prior to maturity , $ 189.7 million of the $ 350 million floating rate series of first mortgage bonds due december 2008 , and for other general corporate purposes .', 'the portion of the $ 325 million of 3.6% ( 3.6 % ) series first mortgage bonds due june 2008 that had been assumed by entergy texas were paid at maturity by entergy texas in june 2008 , and that bond series is no longer outstanding .', 'the portion of the $ 350 million floating rate series of first mortgage bonds due december 2008 that had been assumed by entergy texas were paid at maturity by entergy texas in december 2008 , and that bond series is no longer outstanding .', "hurricane rita and hurricane katrina in august and september 2005 , hurricanes katrina and rita hit entergy gulf states inc.'s jurisdictions in louisiana and texas .", 'the storms resulted in power outages ; significant damage to electric distribution , transmission , and generation infrastructure ; and the temporary loss of sales and customers due to mandatory evacuations .', 'entergy gulf states louisiana is pursuing a range of initiatives to recover storm restoration and business continuity costs and incremental losses .', 'initiatives include obtaining reimbursement of certain costs covered by insurance and pursuing recovery through existing or new rate mechanisms regulated by the ferc and local regulatory bodies , in combination with securitization. .'] | ****************************************
Row 1: 2008, 2007, 2006, 2005
Row 2: ( in thousands ), ( in thousands ), ( in thousands ), ( in thousands )
Row 3: $ 11589, $ 55509, $ 75048, $ 64011
**************************************** | multiply(375, 6.00%) | 22.5 |
what were total adjustments to valuation allowances in millions? | Context: ['provision for income taxes increased $ 1791 million in 2012 from 2011 primarily due to the increase in pretax income from continuing operations , including the impact of the resumption of sales in libya in the first quarter of 2012 .', 'the following is an analysis of the effective income tax rates for 2012 and 2011: .']
--
Data Table:
****************************************
2012 2011
statutory rate applied to income from continuing operations before income taxes 35% ( 35 % ) 35% ( 35 % )
effects of foreign operations including foreign tax credits 18 6
change in permanent reinvestment assertion 2014 5
adjustments to valuation allowances 21 14
tax law changes 2014 1
effective income tax rate on continuing operations 74% ( 74 % ) 61% ( 61 % )
****************************************
--
Post-table: ['the effective income tax rate is influenced by a variety of factors including the geographic sources of income and the relative magnitude of these sources of income .', 'the provision for income taxes is allocated on a discrete , stand-alone basis to pretax segment income and to individual items not allocated to segments .', 'the difference between the total provision and the sum of the amounts allocated to segments appears in the "corporate and other unallocated items" shown in the reconciliation of segment income to net income below .', 'effects of foreign operations 2013 the effects of foreign operations on our effective tax rate increased in 2012 as compared to 2011 , primarily due to the resumption of sales in libya in the first quarter of 2012 , where the statutory rate is in excess of 90 percent .', 'change in permanent reinvestment assertion 2013 in the second quarter of 2011 , we recorded $ 716 million of deferred u.s .', 'tax on undistributed earnings of $ 2046 million that we previously intended to permanently reinvest in foreign operations .', 'offsetting this tax expense were associated foreign tax credits of $ 488 million .', 'in addition , we reduced our valuation allowance related to foreign tax credits by $ 228 million due to recognizing deferred u.s .', 'tax on previously undistributed earnings .', 'adjustments to valuation allowances 2013 in 2012 and 2011 , we increased the valuation allowance against foreign tax credits because it is more likely than not that we will be unable to realize all u.s .', 'benefits on foreign taxes accrued in those years .', 'see item 8 .', 'financial statements and supplementary data - note 10 to the consolidated financial statements for further information about income taxes .', 'discontinued operations is presented net of tax , and reflects our downstream business that was spun off june 30 , 2011 and our angola business which we agreed to sell in 2013 .', 'see item 8 .', 'financial statements and supplementary data 2013 notes 3 and 6 to the consolidated financial statements for additional information. .'] | 35.0 | MRO/2013/page_49.pdf-3 | ['provision for income taxes increased $ 1791 million in 2012 from 2011 primarily due to the increase in pretax income from continuing operations , including the impact of the resumption of sales in libya in the first quarter of 2012 .', 'the following is an analysis of the effective income tax rates for 2012 and 2011: .'] | ['the effective income tax rate is influenced by a variety of factors including the geographic sources of income and the relative magnitude of these sources of income .', 'the provision for income taxes is allocated on a discrete , stand-alone basis to pretax segment income and to individual items not allocated to segments .', 'the difference between the total provision and the sum of the amounts allocated to segments appears in the "corporate and other unallocated items" shown in the reconciliation of segment income to net income below .', 'effects of foreign operations 2013 the effects of foreign operations on our effective tax rate increased in 2012 as compared to 2011 , primarily due to the resumption of sales in libya in the first quarter of 2012 , where the statutory rate is in excess of 90 percent .', 'change in permanent reinvestment assertion 2013 in the second quarter of 2011 , we recorded $ 716 million of deferred u.s .', 'tax on undistributed earnings of $ 2046 million that we previously intended to permanently reinvest in foreign operations .', 'offsetting this tax expense were associated foreign tax credits of $ 488 million .', 'in addition , we reduced our valuation allowance related to foreign tax credits by $ 228 million due to recognizing deferred u.s .', 'tax on previously undistributed earnings .', 'adjustments to valuation allowances 2013 in 2012 and 2011 , we increased the valuation allowance against foreign tax credits because it is more likely than not that we will be unable to realize all u.s .', 'benefits on foreign taxes accrued in those years .', 'see item 8 .', 'financial statements and supplementary data - note 10 to the consolidated financial statements for further information about income taxes .', 'discontinued operations is presented net of tax , and reflects our downstream business that was spun off june 30 , 2011 and our angola business which we agreed to sell in 2013 .', 'see item 8 .', 'financial statements and supplementary data 2013 notes 3 and 6 to the consolidated financial statements for additional information. .'] | ****************************************
2012 2011
statutory rate applied to income from continuing operations before income taxes 35% ( 35 % ) 35% ( 35 % )
effects of foreign operations including foreign tax credits 18 6
change in permanent reinvestment assertion 2014 5
adjustments to valuation allowances 21 14
tax law changes 2014 1
effective income tax rate on continuing operations 74% ( 74 % ) 61% ( 61 % )
**************************************** | add(21, 14) | 35.0 |
what was the difference between earnings per share 2013 diluted as reported and earnings per share 2013 diluted pro forma ? | Background: ['the following table details the effect on net income and earnings per share had compensation expense for all of our stock-based awards , including stock options , been recorded in the year ended december 31 , 2005 based on the fair value method under fasb statement no .', '123 , accounting for stock-based compensation .', 'pro forma stock-based compensation expense millions of dollars , except per share amounts 2005 .']
Tabular Data:
****************************************
pro forma stock-based compensation expensemillions of dollars except per share amounts | 2005
----------|----------
net income as reported | $ 1026
stock-based employee compensation expense reported in net income net of tax | 13
total stock-based employee compensation expense determined under fair value 2013based method for allawards net of tax [a] | -50 ( 50 )
pro forma net income | $ 989
earnings per share 2013 basic as reported | $ 3.89
earnings per share 2013 basic pro forma | $ 3.75
earnings per share 2013 diluted as reported | $ 3.85
earnings per share 2013 diluted pro forma | $ 3.71
****************************************
Post-table: ['[a] stock options for executives granted in 2003 and 2002 included a reload feature .', 'this reload feature allowed executives to exercise their options using shares of union pacific corporation common stock that they already owned and obtain a new grant of options in the amount of the shares used for exercise plus any shares withheld for tax purposes .', 'the reload feature of these option grants could only be exercised if the price of our common stock increased at least 20% ( 20 % ) from the price at the time of the reload grant .', 'during the year ended december 31 , 2005 , reload option grants represented $ 19 million of the pro forma expense noted above .', 'there were no reload option grants during 2007 and 2006 as stock options exercised after january 1 , 2006 are not eligible for the reload feature .', 'earnings per share 2013 basic earnings per share are calculated on the weighted-average number of common shares outstanding during each period .', 'diluted earnings per share include shares issuable upon exercise of outstanding stock options and stock-based awards where the conversion of such instruments would be dilutive .', 'use of estimates 2013 our consolidated financial statements include estimates and assumptions regarding certain assets , liabilities , revenue , and expenses and the disclosure of certain contingent assets and liabilities .', 'actual future results may differ from such estimates .', 'income taxes 2013 as required under fasb statement no .', '109 , accounting for income taxes , we account for income taxes by recording taxes payable or refundable for the current year and deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in our financial statements or tax returns .', 'these expected future tax consequences are measured based on provisions of tax law as currently enacted ; the effects of future changes in tax laws are not anticipated .', 'future tax law changes , such as a change in the corporate tax rate , could have a material impact on our financial condition or results of operations .', 'when appropriate , we record a valuation allowance against deferred tax assets to offset future tax benefits that may not be realized .', 'in determining whether a valuation allowance is appropriate , we consider whether it is more likely than not that all or some portion of our deferred tax assets will not be realized , based on management 2019s judgments regarding the best available evidence about future events .', 'when we have claimed tax benefits that may be challenged by a tax authority , these uncertain tax positions are accounted for under fasb interpretation no .', '48 , accounting for uncertainty in income taxes , an interpretation of fasb statement no .', '109 ( fin 48 ) .', 'we adopted fin 48 beginning january 1 , 2007 .', 'prior to 2007 , income tax contingencies were accounted for under fasb statement no .', '5 , accounting for contingencies .', 'under fin 48 , we recognize tax benefits only for tax positions that are more likely than not to be sustained upon examination by tax authorities .', 'the amount recognized is measured as the largest amount of benefit that is greater than 50 percent likely to be realized upon settlement .', 'a liability for 201cunrecognized tax benefits 201d is .'] | -0.14 | UNP/2007/page_58.pdf-2 | ['the following table details the effect on net income and earnings per share had compensation expense for all of our stock-based awards , including stock options , been recorded in the year ended december 31 , 2005 based on the fair value method under fasb statement no .', '123 , accounting for stock-based compensation .', 'pro forma stock-based compensation expense millions of dollars , except per share amounts 2005 .'] | ['[a] stock options for executives granted in 2003 and 2002 included a reload feature .', 'this reload feature allowed executives to exercise their options using shares of union pacific corporation common stock that they already owned and obtain a new grant of options in the amount of the shares used for exercise plus any shares withheld for tax purposes .', 'the reload feature of these option grants could only be exercised if the price of our common stock increased at least 20% ( 20 % ) from the price at the time of the reload grant .', 'during the year ended december 31 , 2005 , reload option grants represented $ 19 million of the pro forma expense noted above .', 'there were no reload option grants during 2007 and 2006 as stock options exercised after january 1 , 2006 are not eligible for the reload feature .', 'earnings per share 2013 basic earnings per share are calculated on the weighted-average number of common shares outstanding during each period .', 'diluted earnings per share include shares issuable upon exercise of outstanding stock options and stock-based awards where the conversion of such instruments would be dilutive .', 'use of estimates 2013 our consolidated financial statements include estimates and assumptions regarding certain assets , liabilities , revenue , and expenses and the disclosure of certain contingent assets and liabilities .', 'actual future results may differ from such estimates .', 'income taxes 2013 as required under fasb statement no .', '109 , accounting for income taxes , we account for income taxes by recording taxes payable or refundable for the current year and deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in our financial statements or tax returns .', 'these expected future tax consequences are measured based on provisions of tax law as currently enacted ; the effects of future changes in tax laws are not anticipated .', 'future tax law changes , such as a change in the corporate tax rate , could have a material impact on our financial condition or results of operations .', 'when appropriate , we record a valuation allowance against deferred tax assets to offset future tax benefits that may not be realized .', 'in determining whether a valuation allowance is appropriate , we consider whether it is more likely than not that all or some portion of our deferred tax assets will not be realized , based on management 2019s judgments regarding the best available evidence about future events .', 'when we have claimed tax benefits that may be challenged by a tax authority , these uncertain tax positions are accounted for under fasb interpretation no .', '48 , accounting for uncertainty in income taxes , an interpretation of fasb statement no .', '109 ( fin 48 ) .', 'we adopted fin 48 beginning january 1 , 2007 .', 'prior to 2007 , income tax contingencies were accounted for under fasb statement no .', '5 , accounting for contingencies .', 'under fin 48 , we recognize tax benefits only for tax positions that are more likely than not to be sustained upon examination by tax authorities .', 'the amount recognized is measured as the largest amount of benefit that is greater than 50 percent likely to be realized upon settlement .', 'a liability for 201cunrecognized tax benefits 201d is .'] | ****************************************
pro forma stock-based compensation expensemillions of dollars except per share amounts | 2005
----------|----------
net income as reported | $ 1026
stock-based employee compensation expense reported in net income net of tax | 13
total stock-based employee compensation expense determined under fair value 2013based method for allawards net of tax [a] | -50 ( 50 )
pro forma net income | $ 989
earnings per share 2013 basic as reported | $ 3.89
earnings per share 2013 basic pro forma | $ 3.75
earnings per share 2013 diluted as reported | $ 3.85
earnings per share 2013 diluted pro forma | $ 3.71
**************************************** | subtract(3.71, 3.85) | -0.14 |
what portion of the estimated purchase price is dedicated to goodwill? | Context: ['hologic , inc .', 'notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) its supply chain and improve manufacturing margins .', 'the combination of the companies should also facilitate further manufacturing efficiencies and accelerate research and development of new detector products .', 'aeg was a privately held group of companies headquartered in warstein , germany , with manufacturing operations in germany , china and the united states .', 'the aggregate purchase price for aeg was approximately $ 31300 ( subject to adjustment ) consisting of eur $ 24100 in cash and 110 shares of hologic common stock valued at $ 5300 , and approximately $ 1900 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 .', 'these 110 shares were subject to contingent put options pursuant to which the holders had the option to resell the shares to the company during a period of one year following the completion of the acquisition if the closing price of the company 2019s stock falls and remains below a threshold price .', 'the put options were never exercised and expired on may 2 , 2007 .', 'the acquisition also provided for a one-year earn out of eur 1700 ( approximately $ 2000 usd ) which was payable in cash if aeg calendar year 2006 earnings , as defined , exceeded a pre-determined amount .', 'aeg 2019s 2006 earnings did not exceed such pre-determined amounts and no payment was made .', 'the components and allocation of the purchase price , consists of the following approximate amounts: .']
--------
Data Table:
net tangible assets acquired as of may 2 2006 | $ 24800
in-process research and development | 600
developed technology and know how | 1900
customer relationship | 800
trade name | 400
deferred income taxes | -3000 ( 3000 )
goodwill | 5800
estimated purchase price | $ 31300
--------
Follow-up: ['the company implemented a plan to restructure certain of aeg 2019s historical activities .', 'the company originally recorded a liability of approximately $ 2100 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 under this plan .', 'upon completion of the plan in fiscal 2007 the company reduced this liability by approximately $ 241 with a corresponding reduction in goodwill .', 'all amounts have been paid as of september 29 , 2007 .', 'as part of the aeg acquisition the company acquired a minority interest in the equity securities of a private german company .', 'the company estimated the fair value of these securities to be approximately $ 1400 in its original purchase price allocation .', 'during the year ended september 29 , 2007 , the company sold these securities for proceeds of approximately $ 2150 .', 'the difference of approximately $ 750 between the preliminary fair value estimate and proceeds upon sale has been recorded as a reduction of goodwill .', 'the final purchase price allocations were completed within one year of the acquisition and the adjustments did not have a material impact on the company 2019s financial position or results of operations .', 'there have been 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 .', 'the fair value of these intangible assets was determined through the application of the income approach .', 'customer relationship represents aeg 2019s high dependency on a small number of large accounts .', 'aeg markets its products through distributors as well as directly to its own customers .', 'trade name represents aeg 2019s product names that the company intends to continue to use .', 'developed technology and know how represents currently marketable .'] | 0.1853 | HOLX/2007/page_127.pdf-1 | ['hologic , inc .', 'notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) its supply chain and improve manufacturing margins .', 'the combination of the companies should also facilitate further manufacturing efficiencies and accelerate research and development of new detector products .', 'aeg was a privately held group of companies headquartered in warstein , germany , with manufacturing operations in germany , china and the united states .', 'the aggregate purchase price for aeg was approximately $ 31300 ( subject to adjustment ) consisting of eur $ 24100 in cash and 110 shares of hologic common stock valued at $ 5300 , and approximately $ 1900 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 .', 'these 110 shares were subject to contingent put options pursuant to which the holders had the option to resell the shares to the company during a period of one year following the completion of the acquisition if the closing price of the company 2019s stock falls and remains below a threshold price .', 'the put options were never exercised and expired on may 2 , 2007 .', 'the acquisition also provided for a one-year earn out of eur 1700 ( approximately $ 2000 usd ) which was payable in cash if aeg calendar year 2006 earnings , as defined , exceeded a pre-determined amount .', 'aeg 2019s 2006 earnings did not exceed such pre-determined amounts and no payment was made .', 'the components and allocation of the purchase price , consists of the following approximate amounts: .'] | ['the company implemented a plan to restructure certain of aeg 2019s historical activities .', 'the company originally recorded a liability of approximately $ 2100 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 under this plan .', 'upon completion of the plan in fiscal 2007 the company reduced this liability by approximately $ 241 with a corresponding reduction in goodwill .', 'all amounts have been paid as of september 29 , 2007 .', 'as part of the aeg acquisition the company acquired a minority interest in the equity securities of a private german company .', 'the company estimated the fair value of these securities to be approximately $ 1400 in its original purchase price allocation .', 'during the year ended september 29 , 2007 , the company sold these securities for proceeds of approximately $ 2150 .', 'the difference of approximately $ 750 between the preliminary fair value estimate and proceeds upon sale has been recorded as a reduction of goodwill .', 'the final purchase price allocations were completed within one year of the acquisition and the adjustments did not have a material impact on the company 2019s financial position or results of operations .', 'there have been 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 .', 'the fair value of these intangible assets was determined through the application of the income approach .', 'customer relationship represents aeg 2019s high dependency on a small number of large accounts .', 'aeg markets its products through distributors as well as directly to its own customers .', 'trade name represents aeg 2019s product names that the company intends to continue to use .', 'developed technology and know how represents currently marketable .'] | net tangible assets acquired as of may 2 2006 | $ 24800
in-process research and development | 600
developed technology and know how | 1900
customer relationship | 800
trade name | 400
deferred income taxes | -3000 ( 3000 )
goodwill | 5800
estimated purchase price | $ 31300 | divide(5800, 31300) | 0.1853 |
what potion of the r2 acquisition is paid in cash? | Background: ['hologic , inc .', 'notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) acquisition of r2 technology , inc .', 'on july 13 , 2006 , the company completed the acquisition of r2 technology , inc .', '( 201cr2 201d ) 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 ( 201ccad 201d ) , 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 8800 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: .']
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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 | 6700
goodwill | 143200
final purchase price | $ 220600
----------------------------------------
--
Follow-up: ['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 $ 2300 and $ 400 during the years ended september 27 , 2008 and september 29 , 2007 , respectively .', 'the reduction in 2007 was primarily related to a change in the preliminary valuation of certain assets and liabilities acquired based on information received during the year .', 'the decrease in goodwill in 2008 was related to the reduction of an income tax liability .', 'the final purchase price allocations were completed and the adjustments did not have a material impact on the company 2019s financial position or results of operation .', '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 .'] | 0.03128 | HOLX/2008/page_143.pdf-2 | ['hologic , inc .', 'notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) acquisition of r2 technology , inc .', 'on july 13 , 2006 , the company completed the acquisition of r2 technology , inc .', '( 201cr2 201d ) 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 ( 201ccad 201d ) , 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 8800 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 $ 2300 and $ 400 during the years ended september 27 , 2008 and september 29 , 2007 , respectively .', 'the reduction in 2007 was primarily related to a change in the preliminary valuation of certain assets and liabilities acquired based on information received during the year .', 'the decrease in goodwill in 2008 was related to the reduction of an income tax liability .', 'the final purchase price allocations were completed and the adjustments did not have a material impact on the company 2019s financial position or results of operation .', '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 .'] | ----------------------------------------
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 | 6700
goodwill | 143200
final purchase price | $ 220600
---------------------------------------- | divide(6900, 220600) | 0.03128 |
what is the percent of the total aeronautics that is owned | Pre-text: ['reporting unit 2019s related goodwill assets .', 'in 2013 , we recorded a non-cash goodwill impairment charge of $ 195 million , net of state tax benefits .', 'see 201ccritical accounting policies - goodwill 201d in management 2019s discussion and analysis of financial condition and results of operations and 201cnote 1 2013 significant accounting policies 201d for more information on this impairment charge .', 'changes in u.s .', 'or foreign tax laws , including possibly with retroactive effect , and audits by tax authorities could result in unanticipated increases in our tax expense and affect profitability and cash flows .', 'for example , proposals to lower the u.s .', 'corporate income tax rate would require us to reduce our net deferred tax assets upon enactment of the related tax legislation , with a corresponding material , one-time increase to income tax expense , but our income tax expense and payments would be materially reduced in subsequent years .', 'actual financial results could differ from our judgments and estimates .', 'refer to 201ccritical accounting policies 201d in management 2019s discussion and analysis of financial condition and results of operations , and 201cnote 1 2013 significant accounting policies 201d of our consolidated financial statements for a complete discussion of our significant accounting policies and use of estimates .', 'item 1b .', 'unresolved staff comments .', 'item 2 .', 'properties .', 'at december 31 , 2013 , we owned or leased building space ( including offices , manufacturing plants , warehouses , service centers , laboratories , and other facilities ) at 518 locations primarily in the u.s .', 'additionally , we manage or occupy various u.s .', 'government-owned facilities under lease and other arrangements .', 'at december 31 , 2013 , we had significant operations in the following locations : 2022 aeronautics 2013 palmdale , california ; marietta , georgia ; greenville , south carolina ; fort worth and san antonio , texas ; and montreal , canada .', '2022 information systems & global solutions 2013 goodyear , arizona ; sunnyvale , california ; colorado springs and denver , colorado ; gaithersburg and rockville , maryland ; valley forge , pennsylvania ; and houston , texas .', '2022 missiles and fire control 2013 camden , arkansas ; orlando , florida ; lexington , kentucky ; and grand prairie , texas .', '2022 mission systems and training 2013 orlando , florida ; baltimore , maryland ; moorestown/mt .', 'laurel , new jersey ; owego and syracuse , new york ; akron , ohio ; and manassas , virginia .', '2022 space systems 2013 huntsville , alabama ; sunnyvale , california ; denver , colorado ; albuquerque , new mexico ; and newtown , pennsylvania .', '2022 corporate activities 2013 lakeland , florida and bethesda , maryland .', 'in november 2013 , we committed to a plan to vacate our leased facilities in goodyear , arizona and akron , ohio , and close our owned facility in newtown , pennsylvania and certain owned buildings at our sunnyvale , california facility .', 'we expect these closures , which include approximately 2.5 million square feet of facility space , will be substantially complete by the middle of 2015 .', 'for information regarding these matters , see 201cnote 2 2013 restructuring charges 201d of our consolidated financial statements .', 'the following is a summary of our square feet of floor space by business segment at december 31 , 2013 , inclusive of the facilities that we plan to vacate as mentioned above ( in millions ) : owned leased u.s .', 'government- owned total .']
Data Table:
, owned, leased, u.s . government- owned, total
aeronautics, 5.8, 2.7, 14.2, 22.7
information systems & global solutions, 2.5, 5.7, 2014, 8.2
missiles and fire control, 4.2, 5.1, 1.3, 10.6
mission systems and training, 5.8, 5.3, 0.4, 11.5
space systems, 8.5, 1.6, 7.9, 18.0
corporate activities, 3.0, 0.9, 2014, 3.9
total, 29.8, 21.3, 23.8, 74.9
Additional Information: ['we believe our facilities are in good condition and adequate for their current use .', 'we may improve , replace , or reduce facilities as considered appropriate to meet the needs of our operations. .'] | 0.25551 | LMT/2013/page_26.pdf-3 | ['reporting unit 2019s related goodwill assets .', 'in 2013 , we recorded a non-cash goodwill impairment charge of $ 195 million , net of state tax benefits .', 'see 201ccritical accounting policies - goodwill 201d in management 2019s discussion and analysis of financial condition and results of operations and 201cnote 1 2013 significant accounting policies 201d for more information on this impairment charge .', 'changes in u.s .', 'or foreign tax laws , including possibly with retroactive effect , and audits by tax authorities could result in unanticipated increases in our tax expense and affect profitability and cash flows .', 'for example , proposals to lower the u.s .', 'corporate income tax rate would require us to reduce our net deferred tax assets upon enactment of the related tax legislation , with a corresponding material , one-time increase to income tax expense , but our income tax expense and payments would be materially reduced in subsequent years .', 'actual financial results could differ from our judgments and estimates .', 'refer to 201ccritical accounting policies 201d in management 2019s discussion and analysis of financial condition and results of operations , and 201cnote 1 2013 significant accounting policies 201d of our consolidated financial statements for a complete discussion of our significant accounting policies and use of estimates .', 'item 1b .', 'unresolved staff comments .', 'item 2 .', 'properties .', 'at december 31 , 2013 , we owned or leased building space ( including offices , manufacturing plants , warehouses , service centers , laboratories , and other facilities ) at 518 locations primarily in the u.s .', 'additionally , we manage or occupy various u.s .', 'government-owned facilities under lease and other arrangements .', 'at december 31 , 2013 , we had significant operations in the following locations : 2022 aeronautics 2013 palmdale , california ; marietta , georgia ; greenville , south carolina ; fort worth and san antonio , texas ; and montreal , canada .', '2022 information systems & global solutions 2013 goodyear , arizona ; sunnyvale , california ; colorado springs and denver , colorado ; gaithersburg and rockville , maryland ; valley forge , pennsylvania ; and houston , texas .', '2022 missiles and fire control 2013 camden , arkansas ; orlando , florida ; lexington , kentucky ; and grand prairie , texas .', '2022 mission systems and training 2013 orlando , florida ; baltimore , maryland ; moorestown/mt .', 'laurel , new jersey ; owego and syracuse , new york ; akron , ohio ; and manassas , virginia .', '2022 space systems 2013 huntsville , alabama ; sunnyvale , california ; denver , colorado ; albuquerque , new mexico ; and newtown , pennsylvania .', '2022 corporate activities 2013 lakeland , florida and bethesda , maryland .', 'in november 2013 , we committed to a plan to vacate our leased facilities in goodyear , arizona and akron , ohio , and close our owned facility in newtown , pennsylvania and certain owned buildings at our sunnyvale , california facility .', 'we expect these closures , which include approximately 2.5 million square feet of facility space , will be substantially complete by the middle of 2015 .', 'for information regarding these matters , see 201cnote 2 2013 restructuring charges 201d of our consolidated financial statements .', 'the following is a summary of our square feet of floor space by business segment at december 31 , 2013 , inclusive of the facilities that we plan to vacate as mentioned above ( in millions ) : owned leased u.s .', 'government- owned total .'] | ['we believe our facilities are in good condition and adequate for their current use .', 'we may improve , replace , or reduce facilities as considered appropriate to meet the needs of our operations. .'] | , owned, leased, u.s . government- owned, total
aeronautics, 5.8, 2.7, 14.2, 22.7
information systems & global solutions, 2.5, 5.7, 2014, 8.2
missiles and fire control, 4.2, 5.1, 1.3, 10.6
mission systems and training, 5.8, 5.3, 0.4, 11.5
space systems, 8.5, 1.6, 7.9, 18.0
corporate activities, 3.0, 0.9, 2014, 3.9
total, 29.8, 21.3, 23.8, 74.9 | divide(5.8, 22.7) | 0.25551 |
what was the average cash flow provided from operating activities from 2005 to to 2007 $ 231.1 million in 2007 , $ 203.4 million in 2006 , and $ 221.1 million in 2005 . | Pre-text: ['2007 annual report 41 snap-on 2019s long-term financing strategy is to maintain continuous access to the debt markets to accommodate its liquidity needs .', 'see note 9 to the consolidated financial statements for further information on snap-on 2019s debt and credit facilities .', 'the following discussion focuses on information included in the accompanying consolidated statements of cash flow .', 'cash flow provided from operating activities was $ 231.1 million in 2007 , $ 203.4 million in 2006 , and $ 221.1 million in 2005 .', 'depreciation expense was $ 53.5 million in 2007 , $ 48.5 million in 2006 and $ 49.5 million in 2005 .', 'the increase in depreciation from 2006 levels primarily reflects the impact of higher levels of capital spending in 2006 and 2007 .', 'capital expenditures were $ 61.9 million in 2007 , $ 50.5 million in 2006 and $ 40.1 million in 2005 .', 'capital expenditures in all three years mainly reflect efficiency and cost-reduction capital investments , including the installation of new production equipment and machine tooling to enhance manufacturing and distribution operations , as well as ongoing replacements of manufacturing and distribution equipment .', 'capital spending in 2006 and 2007 also included higher levels of spending to support the company 2019s strategic supply chain and other growth initiatives , including the expansion of the company 2019s manufacturing capabilities in lower-cost regions and emerging markets , and for the replacement and enhancement of its existing global enterprise resource planning ( erp ) management information system , which will continue over a period of several years .', 'snap-on believes that its cash generated from operations , as well as the funds available from its credit facilities , will be sufficient to fund the company 2019s capital expenditure requirements in 2008 .', 'amortization expense was $ 22.2 million in 2007 , $ 3.4 million in 2006 and $ 2.7 million in 2005 .', 'the increase in 2007 amortization expense is primarily due to the amortization of intangibles from the november 2006 acquisition of business solutions .', 'see note 6 to the consolidated financial statements for information on acquired intangible assets .', 'snap-on has undertaken stock repurchases from time to time to offset dilution created by shares issued for employee and dealer stock purchase plans , stock options , and other corporate purposes , as well as to repurchase shares when the company believes market conditions are favorable .', 'in 2007 , snap-on repurchased 1860000 shares of common stock for $ 94.4 million under its previously announced share repurchase programs .', 'the cash used to repurchase shares of common stock was partially offset by $ 39.2 million of proceeds from stock purchase and option plan exercises and $ 6.0 million of related excess tax benefits .', 'as of december 29 , 2007 , snap-on had remaining availability to repurchase up to an additional $ 116.8 million in common stock pursuant to the board of directors 2019 ( 201cboard 201d ) authorizations .', 'the purchase of snap-on common stock is at the company 2019s discretion , subject to prevailing financial and market conditions .', 'snap-on repurchased 2616618 shares of common stock for $ 109.8 million in 2006 and 912100 shares of common stock for $ 32.1 million in 2005 .', 'snap-on believes that its cash generated from operations , as well as the funds available from its credit facilities , will be sufficient to fund the company 2019s share repurchases in 2008 .', 'on october 3 , 2005 , snap-on repaid its $ 100 million , 10-year , 6.625% ( 6.625 % ) unsecured notes upon their maturity .', 'the $ 100 million debt repayment was made with available cash on hand .', 'snap-on has paid consecutive quarterly cash dividends , without interruption or reduction , since 1939 .', 'cash dividends paid in 2007 , 2006 and 2005 totaled $ 64.8 million , $ 63.6 million and $ 57.8 million , respectively .', 'on november 1 , 2007 , the company announced that its board increased the quarterly cash dividend by 11.1% ( 11.1 % ) to $ 0.30 per share ( $ 1.20 per share per year ) .', 'at the beginning of fiscal 2006 , the company 2019s board increased the quarterly cash dividend by 8% ( 8 % ) to $ 0.27 per share ( $ 1.08 per share per year ) . .']
######
Table:
----------------------------------------
| 2007 | 2006 | 2005
cash dividends paid per common share | $ 1.11 | $ 1.08 | $ 1.00
cash dividends paid as a percent of prior-year retained earnings | 5.5% ( 5.5 % ) | 5.6% ( 5.6 % ) | 5.2% ( 5.2 % )
----------------------------------------
######
Post-table: ['cash dividends paid as a percent of prior-year retained earnings 5.5% ( 5.5 % ) 5.6% ( 5.6 % ) 5.2% ( 5.2 % ) snap-on believes that its cash generated from operations , as well as the funds available from its credit facilities , will be sufficient to pay dividends in 2008 .', 'off-balance sheet arrangements except as set forth below in the section labeled 201ccontractual obligations and commitments , 201d the company had no off- balance sheet arrangements as of december 29 , 2007. .'] | 640.9 | SNA/2007/page_49.pdf-1 | ['2007 annual report 41 snap-on 2019s long-term financing strategy is to maintain continuous access to the debt markets to accommodate its liquidity needs .', 'see note 9 to the consolidated financial statements for further information on snap-on 2019s debt and credit facilities .', 'the following discussion focuses on information included in the accompanying consolidated statements of cash flow .', 'cash flow provided from operating activities was $ 231.1 million in 2007 , $ 203.4 million in 2006 , and $ 221.1 million in 2005 .', 'depreciation expense was $ 53.5 million in 2007 , $ 48.5 million in 2006 and $ 49.5 million in 2005 .', 'the increase in depreciation from 2006 levels primarily reflects the impact of higher levels of capital spending in 2006 and 2007 .', 'capital expenditures were $ 61.9 million in 2007 , $ 50.5 million in 2006 and $ 40.1 million in 2005 .', 'capital expenditures in all three years mainly reflect efficiency and cost-reduction capital investments , including the installation of new production equipment and machine tooling to enhance manufacturing and distribution operations , as well as ongoing replacements of manufacturing and distribution equipment .', 'capital spending in 2006 and 2007 also included higher levels of spending to support the company 2019s strategic supply chain and other growth initiatives , including the expansion of the company 2019s manufacturing capabilities in lower-cost regions and emerging markets , and for the replacement and enhancement of its existing global enterprise resource planning ( erp ) management information system , which will continue over a period of several years .', 'snap-on believes that its cash generated from operations , as well as the funds available from its credit facilities , will be sufficient to fund the company 2019s capital expenditure requirements in 2008 .', 'amortization expense was $ 22.2 million in 2007 , $ 3.4 million in 2006 and $ 2.7 million in 2005 .', 'the increase in 2007 amortization expense is primarily due to the amortization of intangibles from the november 2006 acquisition of business solutions .', 'see note 6 to the consolidated financial statements for information on acquired intangible assets .', 'snap-on has undertaken stock repurchases from time to time to offset dilution created by shares issued for employee and dealer stock purchase plans , stock options , and other corporate purposes , as well as to repurchase shares when the company believes market conditions are favorable .', 'in 2007 , snap-on repurchased 1860000 shares of common stock for $ 94.4 million under its previously announced share repurchase programs .', 'the cash used to repurchase shares of common stock was partially offset by $ 39.2 million of proceeds from stock purchase and option plan exercises and $ 6.0 million of related excess tax benefits .', 'as of december 29 , 2007 , snap-on had remaining availability to repurchase up to an additional $ 116.8 million in common stock pursuant to the board of directors 2019 ( 201cboard 201d ) authorizations .', 'the purchase of snap-on common stock is at the company 2019s discretion , subject to prevailing financial and market conditions .', 'snap-on repurchased 2616618 shares of common stock for $ 109.8 million in 2006 and 912100 shares of common stock for $ 32.1 million in 2005 .', 'snap-on believes that its cash generated from operations , as well as the funds available from its credit facilities , will be sufficient to fund the company 2019s share repurchases in 2008 .', 'on october 3 , 2005 , snap-on repaid its $ 100 million , 10-year , 6.625% ( 6.625 % ) unsecured notes upon their maturity .', 'the $ 100 million debt repayment was made with available cash on hand .', 'snap-on has paid consecutive quarterly cash dividends , without interruption or reduction , since 1939 .', 'cash dividends paid in 2007 , 2006 and 2005 totaled $ 64.8 million , $ 63.6 million and $ 57.8 million , respectively .', 'on november 1 , 2007 , the company announced that its board increased the quarterly cash dividend by 11.1% ( 11.1 % ) to $ 0.30 per share ( $ 1.20 per share per year ) .', 'at the beginning of fiscal 2006 , the company 2019s board increased the quarterly cash dividend by 8% ( 8 % ) to $ 0.27 per share ( $ 1.08 per share per year ) . .'] | ['cash dividends paid as a percent of prior-year retained earnings 5.5% ( 5.5 % ) 5.6% ( 5.6 % ) 5.2% ( 5.2 % ) snap-on believes that its cash generated from operations , as well as the funds available from its credit facilities , will be sufficient to pay dividends in 2008 .', 'off-balance sheet arrangements except as set forth below in the section labeled 201ccontractual obligations and commitments , 201d the company had no off- balance sheet arrangements as of december 29 , 2007. .'] | ----------------------------------------
| 2007 | 2006 | 2005
cash dividends paid per common share | $ 1.11 | $ 1.08 | $ 1.00
cash dividends paid as a percent of prior-year retained earnings | 5.5% ( 5.5 % ) | 5.6% ( 5.6 % ) | 5.2% ( 5.2 % )
---------------------------------------- | add(231.1, 203.4), add(203.4, #0), add(#1, const_3) | 640.9 |
in 2015 what was the the percentage change in the account balance | Context: ['republic services , inc .', 'notes to consolidated financial statements 2014 ( continued ) credit exposure , we continually monitor the credit worthiness of the financial institutions where we have deposits .', 'concentrations of credit risk with respect to trade accounts receivable are limited due to the wide variety of customers and markets in which we provide services , as well as the dispersion of our operations across many geographic areas .', 'we provide services to small-container commercial , large-container industrial , municipal and residential customers in the united states and puerto rico .', 'we perform ongoing credit evaluations of our customers , but generally do not require collateral to support customer receivables .', 'we establish an allowance for doubtful accounts based on various factors including the credit risk of specific customers , age of receivables outstanding , historical trends , economic conditions and other information .', 'accounts receivable , net accounts receivable represent receivables from customers for collection , transfer , recycling , disposal , energy services and other services .', 'our receivables are recorded when billed or when the related revenue is earned , if earlier , and represent claims against third parties that will be settled in cash .', 'the carrying value of our receivables , net of the allowance for doubtful accounts and customer credits , represents their estimated net realizable value .', 'provisions for doubtful accounts are evaluated on a monthly basis and are recorded based on our historical collection experience , the age of the receivables , specific customer information and economic conditions .', 'we also review outstanding balances on an account-specific basis .', 'in general , reserves are provided for accounts receivable in excess of 90 days outstanding .', 'past due receivable balances are written-off when our collection efforts have been unsuccessful in collecting amounts due .', 'the following table reflects the activity in our allowance for doubtful accounts for the years ended december 31: .']
Tabular Data:
----------------------------------------
• , 2015, 2014, 2013
• balance at beginning of year, $ 38.9, $ 38.3, $ 45.3
• additions charged to expense, 22.7, 22.6, 16.1
• accounts written-off, -14.9 ( 14.9 ), -22.0 ( 22.0 ), -23.1 ( 23.1 )
• balance at end of year, $ 46.7, $ 38.9, $ 38.3
----------------------------------------
Post-table: ['restricted cash and marketable securities as of december 31 , 2015 , we had $ 100.3 million of restricted cash and marketable securities .', 'we obtain funds through the issuance of tax-exempt bonds for the purpose of financing qualifying expenditures at our landfills , transfer stations , collection and recycling centers .', 'the funds are deposited directly into trust accounts by the bonding authorities at the time of issuance .', 'as the use of these funds is contractually restricted , and we do not have the ability to use these funds for general operating purposes , they are classified as restricted cash and marketable securities in our consolidated balance sheets .', 'in the normal course of business , we may be required to provide financial assurance to governmental agencies and a variety of other entities in connection with municipal residential collection contracts , closure or post- closure of landfills , environmental remediation , environmental permits , and business licenses and permits as a financial guarantee of our performance .', 'at several of our landfills , we satisfy financial assurance requirements by depositing cash into restricted trust funds or escrow accounts .', 'property and equipment we record property and equipment at cost .', 'expenditures for major additions and improvements to facilities are capitalized , while maintenance and repairs are charged to expense as incurred .', 'when property is retired or otherwise disposed , the related cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in the consolidated statements of income. .'] | -31.1 | RSG/2015/page_98.pdf-1 | ['republic services , inc .', 'notes to consolidated financial statements 2014 ( continued ) credit exposure , we continually monitor the credit worthiness of the financial institutions where we have deposits .', 'concentrations of credit risk with respect to trade accounts receivable are limited due to the wide variety of customers and markets in which we provide services , as well as the dispersion of our operations across many geographic areas .', 'we provide services to small-container commercial , large-container industrial , municipal and residential customers in the united states and puerto rico .', 'we perform ongoing credit evaluations of our customers , but generally do not require collateral to support customer receivables .', 'we establish an allowance for doubtful accounts based on various factors including the credit risk of specific customers , age of receivables outstanding , historical trends , economic conditions and other information .', 'accounts receivable , net accounts receivable represent receivables from customers for collection , transfer , recycling , disposal , energy services and other services .', 'our receivables are recorded when billed or when the related revenue is earned , if earlier , and represent claims against third parties that will be settled in cash .', 'the carrying value of our receivables , net of the allowance for doubtful accounts and customer credits , represents their estimated net realizable value .', 'provisions for doubtful accounts are evaluated on a monthly basis and are recorded based on our historical collection experience , the age of the receivables , specific customer information and economic conditions .', 'we also review outstanding balances on an account-specific basis .', 'in general , reserves are provided for accounts receivable in excess of 90 days outstanding .', 'past due receivable balances are written-off when our collection efforts have been unsuccessful in collecting amounts due .', 'the following table reflects the activity in our allowance for doubtful accounts for the years ended december 31: .'] | ['restricted cash and marketable securities as of december 31 , 2015 , we had $ 100.3 million of restricted cash and marketable securities .', 'we obtain funds through the issuance of tax-exempt bonds for the purpose of financing qualifying expenditures at our landfills , transfer stations , collection and recycling centers .', 'the funds are deposited directly into trust accounts by the bonding authorities at the time of issuance .', 'as the use of these funds is contractually restricted , and we do not have the ability to use these funds for general operating purposes , they are classified as restricted cash and marketable securities in our consolidated balance sheets .', 'in the normal course of business , we may be required to provide financial assurance to governmental agencies and a variety of other entities in connection with municipal residential collection contracts , closure or post- closure of landfills , environmental remediation , environmental permits , and business licenses and permits as a financial guarantee of our performance .', 'at several of our landfills , we satisfy financial assurance requirements by depositing cash into restricted trust funds or escrow accounts .', 'property and equipment we record property and equipment at cost .', 'expenditures for major additions and improvements to facilities are capitalized , while maintenance and repairs are charged to expense as incurred .', 'when property is retired or otherwise disposed , the related cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in the consolidated statements of income. .'] | ----------------------------------------
• , 2015, 2014, 2013
• balance at beginning of year, $ 38.9, $ 38.3, $ 45.3
• additions charged to expense, 22.7, 22.6, 16.1
• accounts written-off, -14.9 ( 14.9 ), -22.0 ( 22.0 ), -23.1 ( 23.1 )
• balance at end of year, $ 46.7, $ 38.9, $ 38.3
---------------------------------------- | subtract(46.7, 38.9), subtract(#0, 38.9) | -31.1 |
what portion of total capability of entergy corporation is generated by entergy arkansas? | Pre-text: ['part i item 1 entergy corporation , domestic utility companies , and system energy entergy louisiana holds non-exclusive franchises to provide electric service in approximately 116 incorporated louisiana municipalities .', 'most of these franchises have 25-year terms , although six of these municipalities have granted 60-year franchises .', 'entergy louisiana also supplies electric service in approximately 353 unincorporated communities , all of which are located in louisiana parishes in which it holds non-exclusive franchises .', 'entergy mississippi has received from the mpsc certificates of public convenience and necessity to provide electric service to areas within 45 counties , including a number of municipalities , in western mississippi .', 'under mississippi statutory law , such certificates are exclusive .', 'entergy mississippi may continue to serve in such municipalities upon payment of a statutory franchise fee , regardless of whether an original municipal franchise is still in existence .', 'entergy new orleans provides electric and gas service in the city of new orleans pursuant to city ordinances ( except electric service in algiers , which is provided by entergy louisiana ) .', "these ordinances contain a continuing option for the city of new orleans to purchase entergy new orleans' electric and gas utility properties .", 'the business of system energy is limited to wholesale power sales .', 'it has no distribution franchises .', 'property and other generation resources generating stations the total capability of the generating stations owned and leased by the domestic utility companies and system energy as of december 31 , 2004 , is indicated below: .']
Tabular Data:
========================================
company, owned and leased capability mw ( 1 ) total, owned and leased capability mw ( 1 ) gas/oil, owned and leased capability mw ( 1 ) nuclear, owned and leased capability mw ( 1 ) coal, owned and leased capability mw ( 1 ) hydro
entergy arkansas, 4709, 1613, 1837, 1189, 70
entergy gulf states, 6485, 4890, 968, 627, -
entergy louisiana, 5363, 4276, 1087, -, -
entergy mississippi, 2898, 2490, -, 408, -
entergy new orleans, 915, 915, -, -, -
system energy, 1143, -, 1143, -, -
total, 21513, 14184, 5035, 2224, 70
========================================
Additional Information: ['( 1 ) "owned and leased capability" is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel ( assuming no curtailments ) that each station was designed to utilize .', "entergy's load and capacity projections are reviewed periodically to assess the need and timing for additional generating capacity and interconnections .", 'these reviews consider existing and projected demand , the availability and price of power , the location of new loads , and economy .', 'peak load in the u.s .', 'utility service territory is typically around 21000 mw , with minimum load typically around 9000 mw .', 'allowing for an adequate reserve margin , entergy has been short approximately 3000 mw during the summer peak load period .', 'in addition to its net short position at summer peak , entergy considers its generation in three categories : ( 1 ) baseload ( e.g .', 'coal and nuclear ) ; ( 2 ) load-following ( e.g .', 'combined cycle gas-fired ) ; and ( 3 ) peaking .', 'the relative supply and demand for these categories of generation vary by region of the entergy system .', 'for example , the north end of its system has more baseload coal and nuclear generation than regional demand requires , but is short load-following or intermediate generation .', 'in the south end of the entergy system , load would be more effectively served if gas- fired intermediate resources already in place were supplemented with additional solid fuel baseload generation. .'] | 0.21889 | ETR/2004/page_125.pdf-1 | ['part i item 1 entergy corporation , domestic utility companies , and system energy entergy louisiana holds non-exclusive franchises to provide electric service in approximately 116 incorporated louisiana municipalities .', 'most of these franchises have 25-year terms , although six of these municipalities have granted 60-year franchises .', 'entergy louisiana also supplies electric service in approximately 353 unincorporated communities , all of which are located in louisiana parishes in which it holds non-exclusive franchises .', 'entergy mississippi has received from the mpsc certificates of public convenience and necessity to provide electric service to areas within 45 counties , including a number of municipalities , in western mississippi .', 'under mississippi statutory law , such certificates are exclusive .', 'entergy mississippi may continue to serve in such municipalities upon payment of a statutory franchise fee , regardless of whether an original municipal franchise is still in existence .', 'entergy new orleans provides electric and gas service in the city of new orleans pursuant to city ordinances ( except electric service in algiers , which is provided by entergy louisiana ) .', "these ordinances contain a continuing option for the city of new orleans to purchase entergy new orleans' electric and gas utility properties .", 'the business of system energy is limited to wholesale power sales .', 'it has no distribution franchises .', 'property and other generation resources generating stations the total capability of the generating stations owned and leased by the domestic utility companies and system energy as of december 31 , 2004 , is indicated below: .'] | ['( 1 ) "owned and leased capability" is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel ( assuming no curtailments ) that each station was designed to utilize .', "entergy's load and capacity projections are reviewed periodically to assess the need and timing for additional generating capacity and interconnections .", 'these reviews consider existing and projected demand , the availability and price of power , the location of new loads , and economy .', 'peak load in the u.s .', 'utility service territory is typically around 21000 mw , with minimum load typically around 9000 mw .', 'allowing for an adequate reserve margin , entergy has been short approximately 3000 mw during the summer peak load period .', 'in addition to its net short position at summer peak , entergy considers its generation in three categories : ( 1 ) baseload ( e.g .', 'coal and nuclear ) ; ( 2 ) load-following ( e.g .', 'combined cycle gas-fired ) ; and ( 3 ) peaking .', 'the relative supply and demand for these categories of generation vary by region of the entergy system .', 'for example , the north end of its system has more baseload coal and nuclear generation than regional demand requires , but is short load-following or intermediate generation .', 'in the south end of the entergy system , load would be more effectively served if gas- fired intermediate resources already in place were supplemented with additional solid fuel baseload generation. .'] | ========================================
company, owned and leased capability mw ( 1 ) total, owned and leased capability mw ( 1 ) gas/oil, owned and leased capability mw ( 1 ) nuclear, owned and leased capability mw ( 1 ) coal, owned and leased capability mw ( 1 ) hydro
entergy arkansas, 4709, 1613, 1837, 1189, 70
entergy gulf states, 6485, 4890, 968, 627, -
entergy louisiana, 5363, 4276, 1087, -, -
entergy mississippi, 2898, 2490, -, 408, -
entergy new orleans, 915, 915, -, -, -
system energy, 1143, -, 1143, -, -
total, 21513, 14184, 5035, 2224, 70
======================================== | divide(4709, 21513) | 0.21889 |
in 2007 what was the percent of the total long-term debt obligations | Context: ["57management's discussion and analysis of financial condition and results of operations facility include covenants relating to net interest coverage and total debt-to-book capitalization ratios .", 'the company was in compliance with the terms of the 3-year credit facility at december 31 , 2005 .', 'the company has never borrowed under its domestic revolving credit facilities .', 'utilization of the non-u.s .', "credit facilities may also be dependent on the company's ability to meet certain conditions at the time a borrowing is requested .", "contractual obligations , guarantees , and other purchase commitments contractual obligations summarized in the table below are the company's obligations and commitments to make future payments under debt obligations ( assuming earliest possible exercise of put rights by holders ) , lease payment obligations , and purchase obligations as of december 31 , 2005 .", 'payments due by period ( 1 ) ( in millions ) total 2006 2007 2008 2009 2010 thereafter .']
##########
Table:
Row 1: ( in millions ), payments due by period ( 1 ) total, payments due by period ( 1 ) 2006, payments due by period ( 1 ) 2007, payments due by period ( 1 ) 2008, payments due by period ( 1 ) 2009, payments due by period ( 1 ) 2010, payments due by period ( 1 ) thereafter
Row 2: long-term debt obligations, $ 4033, $ 119, $ 1222, $ 200, $ 2, $ 529, $ 1961
Row 3: lease obligations, 1150, 438, 190, 134, 109, 84, 195
Row 4: purchase obligations, 992, 418, 28, 3, 2, 2, 539
Row 5: total contractual obligations, $ 6175, $ 975, $ 1440, $ 337, $ 113, $ 615, $ 2695
##########
Follow-up: ['( 1 ) amounts included represent firm , non-cancelable commitments .', "debt obligations : at december 31 , 2005 , the company's long-term debt obligations , including current maturities and unamortized discount and issue costs , totaled $ 4.0 billion , as compared to $ 5.0 billion at december 31 , 2004 .", 'a table of all outstanding long-term debt securities can be found in note 4 , ""debt and credit facilities\'\' to the company\'s consolidated financial statements .', 'as previously discussed , the decrease in the long- term debt obligations as compared to december 31 , 2004 , was due to the redemptions and repurchases of $ 1.0 billion principal amount of outstanding securities during 2005 .', 'also , as previously discussed , the remaining $ 118 million of 7.6% ( 7.6 % ) notes due january 1 , 2007 were reclassified to current maturities of long-term debt .', 'lease obligations : the company owns most of its major facilities , but does lease certain office , factory and warehouse space , land , and information technology and other equipment under principally non-cancelable operating leases .', 'at december 31 , 2005 , future minimum lease obligations , net of minimum sublease rentals , totaled $ 1.2 billion .', 'rental expense , net of sublease income , was $ 254 million in 2005 , $ 217 million in 2004 and $ 223 million in 2003 .', 'purchase obligations : the company has entered into agreements for the purchase of inventory , license of software , promotional agreements , and research and development agreements which are firm commitments and are not cancelable .', 'the longest of these agreements extends through 2015 .', 'total payments expected to be made under these agreements total $ 992 million .', 'commitments under other long-term agreements : the company has entered into certain long-term agreements to purchase software , components , supplies and materials from suppliers .', 'most of the agreements extend for periods of one to three years ( three to five years for software ) .', 'however , generally these agreements do not obligate the company to make any purchases , and many permit the company to terminate the agreement with advance notice ( usually ranging from 60 to 180 days ) .', 'if the company were to terminate these agreements , it generally would be liable for certain termination charges , typically based on work performed and supplier on-hand inventory and raw materials attributable to canceled orders .', 'the company\'s liability would only arise in the event it terminates the agreements for reasons other than ""cause.\'\' in 2003 , the company entered into outsourcing contracts for certain corporate functions , such as benefit administration and information technology related services .', 'these contracts generally extend for 10 years and are expected to expire in 2013 .', 'the total payments under these contracts are approximately $ 3 billion over 10 years ; however , these contracts can be terminated .', 'termination would result in a penalty substantially less than the annual contract payments .', 'the company would also be required to find another source for these services , including the possibility of performing them in-house .', 'as is customary in bidding for and completing network infrastructure projects and pursuant to a practice the company has followed for many years , the company has a number of performance/bid bonds and standby letters of credit outstanding , primarily relating to projects of government and enterprise mobility solutions segment and the networks segment .', 'these instruments normally have maturities of up to three years and are standard in the .'] | 0.303 | MSI/2005/page_64.pdf-4 | ["57management's discussion and analysis of financial condition and results of operations facility include covenants relating to net interest coverage and total debt-to-book capitalization ratios .", 'the company was in compliance with the terms of the 3-year credit facility at december 31 , 2005 .', 'the company has never borrowed under its domestic revolving credit facilities .', 'utilization of the non-u.s .', "credit facilities may also be dependent on the company's ability to meet certain conditions at the time a borrowing is requested .", "contractual obligations , guarantees , and other purchase commitments contractual obligations summarized in the table below are the company's obligations and commitments to make future payments under debt obligations ( assuming earliest possible exercise of put rights by holders ) , lease payment obligations , and purchase obligations as of december 31 , 2005 .", 'payments due by period ( 1 ) ( in millions ) total 2006 2007 2008 2009 2010 thereafter .'] | ['( 1 ) amounts included represent firm , non-cancelable commitments .', "debt obligations : at december 31 , 2005 , the company's long-term debt obligations , including current maturities and unamortized discount and issue costs , totaled $ 4.0 billion , as compared to $ 5.0 billion at december 31 , 2004 .", 'a table of all outstanding long-term debt securities can be found in note 4 , ""debt and credit facilities\'\' to the company\'s consolidated financial statements .', 'as previously discussed , the decrease in the long- term debt obligations as compared to december 31 , 2004 , was due to the redemptions and repurchases of $ 1.0 billion principal amount of outstanding securities during 2005 .', 'also , as previously discussed , the remaining $ 118 million of 7.6% ( 7.6 % ) notes due january 1 , 2007 were reclassified to current maturities of long-term debt .', 'lease obligations : the company owns most of its major facilities , but does lease certain office , factory and warehouse space , land , and information technology and other equipment under principally non-cancelable operating leases .', 'at december 31 , 2005 , future minimum lease obligations , net of minimum sublease rentals , totaled $ 1.2 billion .', 'rental expense , net of sublease income , was $ 254 million in 2005 , $ 217 million in 2004 and $ 223 million in 2003 .', 'purchase obligations : the company has entered into agreements for the purchase of inventory , license of software , promotional agreements , and research and development agreements which are firm commitments and are not cancelable .', 'the longest of these agreements extends through 2015 .', 'total payments expected to be made under these agreements total $ 992 million .', 'commitments under other long-term agreements : the company has entered into certain long-term agreements to purchase software , components , supplies and materials from suppliers .', 'most of the agreements extend for periods of one to three years ( three to five years for software ) .', 'however , generally these agreements do not obligate the company to make any purchases , and many permit the company to terminate the agreement with advance notice ( usually ranging from 60 to 180 days ) .', 'if the company were to terminate these agreements , it generally would be liable for certain termination charges , typically based on work performed and supplier on-hand inventory and raw materials attributable to canceled orders .', 'the company\'s liability would only arise in the event it terminates the agreements for reasons other than ""cause.\'\' in 2003 , the company entered into outsourcing contracts for certain corporate functions , such as benefit administration and information technology related services .', 'these contracts generally extend for 10 years and are expected to expire in 2013 .', 'the total payments under these contracts are approximately $ 3 billion over 10 years ; however , these contracts can be terminated .', 'termination would result in a penalty substantially less than the annual contract payments .', 'the company would also be required to find another source for these services , including the possibility of performing them in-house .', 'as is customary in bidding for and completing network infrastructure projects and pursuant to a practice the company has followed for many years , the company has a number of performance/bid bonds and standby letters of credit outstanding , primarily relating to projects of government and enterprise mobility solutions segment and the networks segment .', 'these instruments normally have maturities of up to three years and are standard in the .'] | Row 1: ( in millions ), payments due by period ( 1 ) total, payments due by period ( 1 ) 2006, payments due by period ( 1 ) 2007, payments due by period ( 1 ) 2008, payments due by period ( 1 ) 2009, payments due by period ( 1 ) 2010, payments due by period ( 1 ) thereafter
Row 2: long-term debt obligations, $ 4033, $ 119, $ 1222, $ 200, $ 2, $ 529, $ 1961
Row 3: lease obligations, 1150, 438, 190, 134, 109, 84, 195
Row 4: purchase obligations, 992, 418, 28, 3, 2, 2, 539
Row 5: total contractual obligations, $ 6175, $ 975, $ 1440, $ 337, $ 113, $ 615, $ 2695 | divide(1222, 4033) | 0.303 |
what was the percentage change in the net sales in asian papers from 2006 to 2007 | Background: ['customer demand .', 'this compared with 555000 tons of total downtime in 2006 of which 150000 tons related to lack-of-orders .', 'printing papers in millions 2007 2006 2005 .']
Tabular Data:
in millions | 2007 | 2006 | 2005
sales | $ 6530 | $ 6700 | $ 6980
operating profit | $ 1101 | $ 636 | $ 434
Follow-up: ['north american printing papers net sales in 2007 were $ 3.5 billion compared with $ 4.4 billion in 2006 ( $ 3.5 billion excluding the coated and super- calendered papers business ) and $ 4.8 billion in 2005 ( $ 3.2 billion excluding the coated and super- calendered papers business ) .', 'sales volumes decreased in 2007 versus 2006 partially due to reduced production capacity resulting from the conversion of the paper machine at the pensacola mill to the production of lightweight linerboard for our industrial packaging segment .', 'average sales price realizations increased significantly , reflecting benefits from price increases announced throughout 2007 .', 'lack-of-order downtime declined to 27000 tons in 2007 from 40000 tons in 2006 .', 'operating earnings of $ 537 million in 2007 increased from $ 482 million in 2006 ( $ 407 million excluding the coated and supercalendered papers business ) and $ 175 million in 2005 ( $ 74 million excluding the coated and supercalendered papers business ) .', 'the benefits from improved average sales price realizations more than offset the effects of higher input costs for wood , energy , and freight .', 'mill operations were favorable compared with the prior year due to current-year improvements in machine performance and energy conservation efforts .', 'sales volumes for the first quarter of 2008 are expected to increase slightly , and the mix of prod- ucts sold to improve .', 'demand for printing papers in north america was steady as the quarter began .', 'price increases for cut-size paper and roll stock have been announced that are expected to be effective principally late in the first quarter .', 'planned mill maintenance outage costs should be about the same as in the fourth quarter ; however , raw material costs are expected to continue to increase , primarily for wood and energy .', 'brazil ian papers net sales for 2007 of $ 850 mil- lion were higher than the $ 495 million in 2006 and the $ 465 million in 2005 .', 'compared with 2006 , aver- age sales price realizations improved reflecting price increases for uncoated freesheet paper realized dur- ing the second half of 2006 and the first half of 2007 .', 'excluding the impact of the luiz antonio acquisition , sales volumes increased primarily for cut size and offset paper .', 'operating profits for 2007 of $ 246 mil- lion were up from $ 122 million in 2006 and $ 134 mil- lion in 2005 as the benefits from higher sales prices and favorable manufacturing costs were only parti- ally offset by higher input costs .', 'contributions from the luiz antonio acquisition increased net sales by approximately $ 350 million and earnings by approx- imately $ 80 million in 2007 .', 'entering 2008 , sales volumes for uncoated freesheet paper and pulp should be seasonally lower .', 'average price realizations should be essentially flat , but mar- gins are expected to reflect a less favorable product mix .', 'energy costs , primarily for hydroelectric power , are expected to increase significantly reflecting a lack of rainfall in brazil in the latter part of 2007 .', 'european papers net sales in 2007 were $ 1.5 bil- lion compared with $ 1.3 billion in 2006 and $ 1.2 bil- lion in 2005 .', 'sales volumes in 2007 were higher than in 2006 at our eastern european mills reflecting stronger market demand and improved efficiencies , but lower in western europe reflecting the closure of the marasquel mill in 2006 .', 'average sales price real- izations increased significantly in 2007 in both east- ern and western european markets .', 'operating profits of $ 214 million in 2007 increased from a loss of $ 16 million in 2006 and earnings of $ 88 million in 2005 .', 'the loss in 2006 reflects the impact of a $ 128 million impairment charge to reduce the carrying value of the fixed assets at the saillat , france mill .', 'excluding this charge , the improvement in 2007 compared with 2006 reflects the contribution from higher net sales , partially offset by higher input costs for wood , energy and freight .', 'looking ahead to the first quarter of 2008 , sales volumes are expected to be stable in western europe , but seasonally weaker in eastern europe and russia .', 'average price realizations are expected to remain about flat .', 'wood costs are expected to increase , especially in russia due to strong demand ahead of tariff increases , and energy costs are anticipated to be seasonally higher .', 'asian printing papers net sales were approx- imately $ 20 million in 2007 , compared with $ 15 mil- lion in 2006 and $ 10 million in 2005 .', 'operating earnings increased slightly in 2007 , but were close to breakeven in all periods .', 'u.s .', 'market pulp sales in 2007 totaled $ 655 mil- lion compared with $ 510 million and $ 525 million in 2006 and 2005 , respectively .', 'sales volumes in 2007 were up from 2006 levels , primarily for paper and .'] | 0.33333 | IP/2007/page_30.pdf-4 | ['customer demand .', 'this compared with 555000 tons of total downtime in 2006 of which 150000 tons related to lack-of-orders .', 'printing papers in millions 2007 2006 2005 .'] | ['north american printing papers net sales in 2007 were $ 3.5 billion compared with $ 4.4 billion in 2006 ( $ 3.5 billion excluding the coated and super- calendered papers business ) and $ 4.8 billion in 2005 ( $ 3.2 billion excluding the coated and super- calendered papers business ) .', 'sales volumes decreased in 2007 versus 2006 partially due to reduced production capacity resulting from the conversion of the paper machine at the pensacola mill to the production of lightweight linerboard for our industrial packaging segment .', 'average sales price realizations increased significantly , reflecting benefits from price increases announced throughout 2007 .', 'lack-of-order downtime declined to 27000 tons in 2007 from 40000 tons in 2006 .', 'operating earnings of $ 537 million in 2007 increased from $ 482 million in 2006 ( $ 407 million excluding the coated and supercalendered papers business ) and $ 175 million in 2005 ( $ 74 million excluding the coated and supercalendered papers business ) .', 'the benefits from improved average sales price realizations more than offset the effects of higher input costs for wood , energy , and freight .', 'mill operations were favorable compared with the prior year due to current-year improvements in machine performance and energy conservation efforts .', 'sales volumes for the first quarter of 2008 are expected to increase slightly , and the mix of prod- ucts sold to improve .', 'demand for printing papers in north america was steady as the quarter began .', 'price increases for cut-size paper and roll stock have been announced that are expected to be effective principally late in the first quarter .', 'planned mill maintenance outage costs should be about the same as in the fourth quarter ; however , raw material costs are expected to continue to increase , primarily for wood and energy .', 'brazil ian papers net sales for 2007 of $ 850 mil- lion were higher than the $ 495 million in 2006 and the $ 465 million in 2005 .', 'compared with 2006 , aver- age sales price realizations improved reflecting price increases for uncoated freesheet paper realized dur- ing the second half of 2006 and the first half of 2007 .', 'excluding the impact of the luiz antonio acquisition , sales volumes increased primarily for cut size and offset paper .', 'operating profits for 2007 of $ 246 mil- lion were up from $ 122 million in 2006 and $ 134 mil- lion in 2005 as the benefits from higher sales prices and favorable manufacturing costs were only parti- ally offset by higher input costs .', 'contributions from the luiz antonio acquisition increased net sales by approximately $ 350 million and earnings by approx- imately $ 80 million in 2007 .', 'entering 2008 , sales volumes for uncoated freesheet paper and pulp should be seasonally lower .', 'average price realizations should be essentially flat , but mar- gins are expected to reflect a less favorable product mix .', 'energy costs , primarily for hydroelectric power , are expected to increase significantly reflecting a lack of rainfall in brazil in the latter part of 2007 .', 'european papers net sales in 2007 were $ 1.5 bil- lion compared with $ 1.3 billion in 2006 and $ 1.2 bil- lion in 2005 .', 'sales volumes in 2007 were higher than in 2006 at our eastern european mills reflecting stronger market demand and improved efficiencies , but lower in western europe reflecting the closure of the marasquel mill in 2006 .', 'average sales price real- izations increased significantly in 2007 in both east- ern and western european markets .', 'operating profits of $ 214 million in 2007 increased from a loss of $ 16 million in 2006 and earnings of $ 88 million in 2005 .', 'the loss in 2006 reflects the impact of a $ 128 million impairment charge to reduce the carrying value of the fixed assets at the saillat , france mill .', 'excluding this charge , the improvement in 2007 compared with 2006 reflects the contribution from higher net sales , partially offset by higher input costs for wood , energy and freight .', 'looking ahead to the first quarter of 2008 , sales volumes are expected to be stable in western europe , but seasonally weaker in eastern europe and russia .', 'average price realizations are expected to remain about flat .', 'wood costs are expected to increase , especially in russia due to strong demand ahead of tariff increases , and energy costs are anticipated to be seasonally higher .', 'asian printing papers net sales were approx- imately $ 20 million in 2007 , compared with $ 15 mil- lion in 2006 and $ 10 million in 2005 .', 'operating earnings increased slightly in 2007 , but were close to breakeven in all periods .', 'u.s .', 'market pulp sales in 2007 totaled $ 655 mil- lion compared with $ 510 million and $ 525 million in 2006 and 2005 , respectively .', 'sales volumes in 2007 were up from 2006 levels , primarily for paper and .'] | in millions | 2007 | 2006 | 2005
sales | $ 6530 | $ 6700 | $ 6980
operating profit | $ 1101 | $ 636 | $ 434 | subtract(20, 15), divide(#0, 15) | 0.33333 |
what percent of total revenues was represented by merchant services in 2006? | Pre-text: ['asia-pacific acquisition on july 24 , 2006 , we completed the purchase of a fifty-six percent ownership interest in the merchant acquiring business of the hongkong and shanghai banking corporation limited , or hsbc .', 'this business provides card payment processing services to merchants in the asia-pacific region .', 'the business includes hsbc 2019s payment processing operations in the following ten countries and territories : brunei , china , hong kong , india , macau , malaysia , maldives , singapore , sri lanka and taiwan .', 'under the terms of the agreement , we initially paid hsbc $ 67.2 million in cash to acquire our ownership interest .', 'we paid an additional $ 1.4 million under this agreement during fiscal 2007 , for a total purchase price of $ 68.6 million to acquire our ownership interest .', 'in conjunction with this acquisition , we entered into a transition services agreement with hsbc that may be terminated at any time .', 'under this agreement , we expect hsbc will continue to perform payment processing operations and related support services until we integrate these functions into our own operations , which we expect will be completed in 2010 .', 'the operating results of this acquisition are included in our consolidated statements of income from the date of the acquisition .', 'business description we are a leading payment processing and consumer money transfer company .', 'as a high-volume processor of electronic transactions , we enable merchants , multinational corporations , financial institutions , consumers , government agencies and other profit and non-profit business enterprises to facilitate payments to purchase goods and services or further other economic goals .', 'our role is to serve as an intermediary in the exchange of information and funds that must occur between parties so that a payment transaction or money transfer can be completed .', 'we were incorporated in georgia as global payments inc .', 'in september 2000 , and we spun-off from our former parent company on january 31 , 2001 .', 'including our time as part of our former parent company , we have provided transaction processing services since 1967 .', 'we market our products and services throughout the united states , canada , europe and the asia-pacific region .', 'we operate in two business segments , merchant services and money transfer , and we offer various products through these segments .', 'our merchant services segment targets customers in many vertical industries including financial institutions , gaming , government , health care , professional services , restaurants , retail , universities and utilities .', 'our money transfer segment primarily targets immigrants in the united states and europe .', 'see note 10 in the notes to consolidated financial statements for additional segment information and 201citem 1a 2014risk factors 201d for a discussion of risks involved with our international operations .', 'total revenues from our merchant services and money transfer segments , by geography and sales channel , are as follows ( amounts in thousands ) : .']
######
Table:
****************************************
2007 2006 2005
domestic direct $ 558026 $ 481273 $ 410047
canada 224570 208126 175190
asia-pacific 48449 2014 2014
central and eastern europe 51224 47114 40598
domestic indirect and other 46873 51987 62033
merchant services 929142 788500 687868
domestic 115416 109067 91448
europe 16965 10489 5015
money transfer 132381 119556 96463
total revenues $ 1061523 $ 908056 $ 784331
****************************************
######
Follow-up: ['.'] | 0.86834 | GPN/2007/page_18.pdf-1 | ['asia-pacific acquisition on july 24 , 2006 , we completed the purchase of a fifty-six percent ownership interest in the merchant acquiring business of the hongkong and shanghai banking corporation limited , or hsbc .', 'this business provides card payment processing services to merchants in the asia-pacific region .', 'the business includes hsbc 2019s payment processing operations in the following ten countries and territories : brunei , china , hong kong , india , macau , malaysia , maldives , singapore , sri lanka and taiwan .', 'under the terms of the agreement , we initially paid hsbc $ 67.2 million in cash to acquire our ownership interest .', 'we paid an additional $ 1.4 million under this agreement during fiscal 2007 , for a total purchase price of $ 68.6 million to acquire our ownership interest .', 'in conjunction with this acquisition , we entered into a transition services agreement with hsbc that may be terminated at any time .', 'under this agreement , we expect hsbc will continue to perform payment processing operations and related support services until we integrate these functions into our own operations , which we expect will be completed in 2010 .', 'the operating results of this acquisition are included in our consolidated statements of income from the date of the acquisition .', 'business description we are a leading payment processing and consumer money transfer company .', 'as a high-volume processor of electronic transactions , we enable merchants , multinational corporations , financial institutions , consumers , government agencies and other profit and non-profit business enterprises to facilitate payments to purchase goods and services or further other economic goals .', 'our role is to serve as an intermediary in the exchange of information and funds that must occur between parties so that a payment transaction or money transfer can be completed .', 'we were incorporated in georgia as global payments inc .', 'in september 2000 , and we spun-off from our former parent company on january 31 , 2001 .', 'including our time as part of our former parent company , we have provided transaction processing services since 1967 .', 'we market our products and services throughout the united states , canada , europe and the asia-pacific region .', 'we operate in two business segments , merchant services and money transfer , and we offer various products through these segments .', 'our merchant services segment targets customers in many vertical industries including financial institutions , gaming , government , health care , professional services , restaurants , retail , universities and utilities .', 'our money transfer segment primarily targets immigrants in the united states and europe .', 'see note 10 in the notes to consolidated financial statements for additional segment information and 201citem 1a 2014risk factors 201d for a discussion of risks involved with our international operations .', 'total revenues from our merchant services and money transfer segments , by geography and sales channel , are as follows ( amounts in thousands ) : .'] | ['.'] | ****************************************
2007 2006 2005
domestic direct $ 558026 $ 481273 $ 410047
canada 224570 208126 175190
asia-pacific 48449 2014 2014
central and eastern europe 51224 47114 40598
domestic indirect and other 46873 51987 62033
merchant services 929142 788500 687868
domestic 115416 109067 91448
europe 16965 10489 5015
money transfer 132381 119556 96463
total revenues $ 1061523 $ 908056 $ 784331
**************************************** | divide(788500, 908056) | 0.86834 |
without the ar write-offs in 2006 , what would the ending a/r allowance have been in millions? | Context: ['goodwill is reviewed annually during the fourth quarter for impairment .', 'in addition , the company performs an impairment analysis of other intangible assets based on the occurrence of other factors .', 'such factors include , but are not limited to , significant changes in membership , state funding , medical contracts and provider networks and contracts .', 'an impairment loss is recognized if the carrying value of intangible assets exceeds the implied fair value .', 'medical claims liabilities medical services costs include claims paid , claims reported but not yet paid , or inventory , estimates for claims incurred but not yet received , or ibnr , and estimates for the costs necessary to process unpaid claims .', 'the estimates of medical claims liabilities are developed using standard actuarial methods based upon historical data for payment patterns , cost trends , product mix , sea- sonality , utilization of healthcare services and other rele- vant factors including product changes .', 'these estimates are continually reviewed and adjustments , if necessary , are reflected in the period known .', 'management did not change actuarial methods during the years presented .', 'management believes the amount of medical claims payable is reasonable and adequate to cover the company 2019s liability for unpaid claims as of december 31 , 2006 ; however , actual claim payments may differ from established estimates .', 'revenue recognition the company 2019s medicaid managed care segment gener- ates revenues primarily from premiums received from the states in which it operates health plans .', 'the company receives a fixed premium per member per month pursuant to our state contracts .', 'the company generally receives premium payments during the month it provides services and recognizes premium revenue during the period in which it is obligated to provide services to its members .', 'some states enact premium taxes or similar assessments , collectively premium taxes , and these taxes are recorded as general and administrative expenses .', 'some contracts allow for additional premium related to certain supplemen- tal services provided such as maternity deliveries .', 'revenues are recorded based on membership and eligibility data provided by the states , which may be adjusted by the states for updates to this data .', 'these adjustments have been immaterial in relation to total revenue recorded and are reflected in the period known .', 'the company 2019s specialty services segment generates revenues under contracts with state programs , healthcare organizations and other commercial organizations , as well as from our own subsidiaries on market-based terms .', 'revenues are recognized when the related services are provided or as ratably earned over the covered period of service .', 'premium and services revenues collected in advance are recorded as unearned revenue .', 'for performance-based contracts the company does not recognize revenue subject to refund until data is sufficient to measure performance .', 'premiums and service revenues due to the company are recorded as premium and related receivables and are recorded net of an allowance based on historical trends and management 2019s judgment on the collectibility of these accounts .', 'as the company generally receives payments during the month in which services are provided , the allowance is typically not significant in comparison to total revenues and does not have a material impact on the pres- entation of the financial condition or results of operations .', 'activity in the allowance for uncollectible accounts for the years ended december 31 is summarized below: .']
Data Table:
****************************************
, 2006, 2005, 2004
allowances beginning of year, $ 343, $ 462, $ 607
amounts charged to expense, 512, 80, 407
write-offs of uncollectible receivables, -700 ( 700 ), -199 ( 199 ), -552 ( 552 )
allowances end of year, $ 155, $ 343, $ 462
****************************************
Post-table: ['significant customers centene receives the majority of its revenues under con- tracts or subcontracts with state medicaid managed care programs .', 'the contracts , which expire on various dates between june 30 , 2007 and december 31 , 2011 , are expected to be renewed .', 'contracts with the states of georgia , indiana , kansas , texas and wisconsin each accounted for 15% ( 15 % ) , 15% ( 15 % ) , 10% ( 10 % ) , 17% ( 17 % ) and 16% ( 16 % ) , respectively , of the company 2019s revenues for the year ended december 31 , 2006 .', 'reinsurance centene has purchased reinsurance from third parties to cover eligible healthcare services .', 'the current reinsurance program covers 90% ( 90 % ) of inpatient healthcare expenses in excess of annual deductibles of $ 300 to $ 500 per member , up to an annual maximum of $ 2000 .', 'centene 2019s medicaid managed care subsidiaries are responsible for inpatient charges in excess of an average daily per diem .', 'in addition , bridgeway participates in a risk-sharing program as part of its contract with the state of arizona for the reimbursement of certain contract service costs beyond a monetary threshold .', 'reinsurance recoveries were $ 3674 , $ 4014 , and $ 3730 , in 2006 , 2005 , and 2004 , respectively .', 'reinsurance expenses were approximately $ 4842 , $ 4105 , and $ 6724 in 2006 , 2005 , and 2004 , respectively .', 'reinsurance recoveries , net of expenses , are included in medical costs .', 'other income ( expense ) other income ( expense ) consists principally of investment income and interest expense .', 'investment income is derived from the company 2019s cash , cash equivalents , restricted deposits and investments. .'] | 855.0 | CNC/2006/page_37.pdf-2 | ['goodwill is reviewed annually during the fourth quarter for impairment .', 'in addition , the company performs an impairment analysis of other intangible assets based on the occurrence of other factors .', 'such factors include , but are not limited to , significant changes in membership , state funding , medical contracts and provider networks and contracts .', 'an impairment loss is recognized if the carrying value of intangible assets exceeds the implied fair value .', 'medical claims liabilities medical services costs include claims paid , claims reported but not yet paid , or inventory , estimates for claims incurred but not yet received , or ibnr , and estimates for the costs necessary to process unpaid claims .', 'the estimates of medical claims liabilities are developed using standard actuarial methods based upon historical data for payment patterns , cost trends , product mix , sea- sonality , utilization of healthcare services and other rele- vant factors including product changes .', 'these estimates are continually reviewed and adjustments , if necessary , are reflected in the period known .', 'management did not change actuarial methods during the years presented .', 'management believes the amount of medical claims payable is reasonable and adequate to cover the company 2019s liability for unpaid claims as of december 31 , 2006 ; however , actual claim payments may differ from established estimates .', 'revenue recognition the company 2019s medicaid managed care segment gener- ates revenues primarily from premiums received from the states in which it operates health plans .', 'the company receives a fixed premium per member per month pursuant to our state contracts .', 'the company generally receives premium payments during the month it provides services and recognizes premium revenue during the period in which it is obligated to provide services to its members .', 'some states enact premium taxes or similar assessments , collectively premium taxes , and these taxes are recorded as general and administrative expenses .', 'some contracts allow for additional premium related to certain supplemen- tal services provided such as maternity deliveries .', 'revenues are recorded based on membership and eligibility data provided by the states , which may be adjusted by the states for updates to this data .', 'these adjustments have been immaterial in relation to total revenue recorded and are reflected in the period known .', 'the company 2019s specialty services segment generates revenues under contracts with state programs , healthcare organizations and other commercial organizations , as well as from our own subsidiaries on market-based terms .', 'revenues are recognized when the related services are provided or as ratably earned over the covered period of service .', 'premium and services revenues collected in advance are recorded as unearned revenue .', 'for performance-based contracts the company does not recognize revenue subject to refund until data is sufficient to measure performance .', 'premiums and service revenues due to the company are recorded as premium and related receivables and are recorded net of an allowance based on historical trends and management 2019s judgment on the collectibility of these accounts .', 'as the company generally receives payments during the month in which services are provided , the allowance is typically not significant in comparison to total revenues and does not have a material impact on the pres- entation of the financial condition or results of operations .', 'activity in the allowance for uncollectible accounts for the years ended december 31 is summarized below: .'] | ['significant customers centene receives the majority of its revenues under con- tracts or subcontracts with state medicaid managed care programs .', 'the contracts , which expire on various dates between june 30 , 2007 and december 31 , 2011 , are expected to be renewed .', 'contracts with the states of georgia , indiana , kansas , texas and wisconsin each accounted for 15% ( 15 % ) , 15% ( 15 % ) , 10% ( 10 % ) , 17% ( 17 % ) and 16% ( 16 % ) , respectively , of the company 2019s revenues for the year ended december 31 , 2006 .', 'reinsurance centene has purchased reinsurance from third parties to cover eligible healthcare services .', 'the current reinsurance program covers 90% ( 90 % ) of inpatient healthcare expenses in excess of annual deductibles of $ 300 to $ 500 per member , up to an annual maximum of $ 2000 .', 'centene 2019s medicaid managed care subsidiaries are responsible for inpatient charges in excess of an average daily per diem .', 'in addition , bridgeway participates in a risk-sharing program as part of its contract with the state of arizona for the reimbursement of certain contract service costs beyond a monetary threshold .', 'reinsurance recoveries were $ 3674 , $ 4014 , and $ 3730 , in 2006 , 2005 , and 2004 , respectively .', 'reinsurance expenses were approximately $ 4842 , $ 4105 , and $ 6724 in 2006 , 2005 , and 2004 , respectively .', 'reinsurance recoveries , net of expenses , are included in medical costs .', 'other income ( expense ) other income ( expense ) consists principally of investment income and interest expense .', 'investment income is derived from the company 2019s cash , cash equivalents , restricted deposits and investments. .'] | ****************************************
, 2006, 2005, 2004
allowances beginning of year, $ 343, $ 462, $ 607
amounts charged to expense, 512, 80, 407
write-offs of uncollectible receivables, -700 ( 700 ), -199 ( 199 ), -552 ( 552 )
allowances end of year, $ 155, $ 343, $ 462
**************************************** | subtract(155, -700) | 855.0 |
by what percentage did the average price of wti crude oil increase from 2011 to 2013? | Pre-text: ['item 7 .', 'management 2019s discussion and analysis of financial condition and results of operations each of our segments is organized and managed based upon both geographic location and the nature of the products and services it offers : 2022 north america e&p 2013 explores for , produces and markets liquid hydrocarbons and natural gas in north america ; 2022 international e&p 2013 explores for , produces and markets liquid hydrocarbons and natural gas outside of north america and produces and markets products manufactured from natural gas , such as lng and methanol , in e.g. ; and 2022 oil sands mining 2013 mines , extracts and transports bitumen from oil sands deposits in alberta , canada , and upgrades the bitumen to produce and market synthetic crude oil and vacuum gas oil .', 'certain sections of management 2019s discussion and analysis of financial condition and results of operations include forward- looking statements concerning trends or events potentially affecting our business .', 'these statements typically contain words such as "anticipates" "believes" "estimates" "expects" "targets" "plans" "projects" "could" "may" "should" "would" or similar words indicating that future outcomes are uncertain .', 'in accordance with "safe harbor" provisions of the private securities litigation reform act of 1995 , these statements are accompanied by cautionary language identifying important factors , though not necessarily all such factors , which could cause future outcomes to differ materially from those set forth in the forward-looking statements .', 'for additional risk factors affecting our business , see item 1a .', 'risk factors in this annual report on form 10-k .', 'management 2019s discussion and analysis of financial condition and results of operations should be read in conjunction with the information under item 1 .', 'business , item 1a .', 'risk factors and item 8 .', 'financial statements and supplementary data found in this annual report on form 10-k .', 'spin-off downstream business on june 30 , 2011 , the spin-off of marathon 2019s downstream business was completed , creating two independent energy companies : marathon oil and mpc .', 'marathon stockholders at the close of business on the record date of june 27 , 2011 received one share of mpc common stock for every two shares of marathon common stock held .', 'a private letter tax ruling received in june 2011 from the irs affirmed the tax-free nature of the spin-off .', 'activities related to the downstream business have been treated as discontinued operations for all periods prior to the spin-off ( see item 8 .', 'financial statements and supplementary data 2013 note 3 to the consolidated financial statements for additional information ) .', 'overview 2013 market conditions prevailing prices for the various qualities of crude oil and natural gas that we produce significantly impact our revenues and cash flows .', 'the following table lists benchmark crude oil and natural gas price averages relative to our north america e&p and international e&p segments for the past three years. .']
----------
Table:
****************************************
• benchmark, 2013, 2012, 2011
• wti crude oil ( dollars per bbl ), $ 98.05, $ 94.15, $ 95.11
• brent ( europe ) crude oil ( dollars per bbl ), $ 108.64, $ 111.65, $ 111.26
• henry hub natural gas ( dollars per mmbtu ) ( a ), $ 3.65, $ 2.79, $ 4.04
****************************************
----------
Post-table: ['henry hub natural gas ( dollars per mmbtu ) ( a ) $ 3.65 $ 2.79 $ 4.04 ( a ) settlement date average .', 'north america e&p liquid hydrocarbons 2013 the quality , location and composition of our liquid hydrocarbon production mix can cause our north america e&p price realizations to differ from the wti benchmark .', 'quality 2013 light sweet crude contains less sulfur and tends to be lighter than sour crude oil so that refining it is less costly and has historically produced higher value products ; therefore , light sweet crude is considered of higher quality and has historically sold at a price that approximates wti or at a premium to wti .', 'the percentage of our north america e&p crude oil and condensate production that is light sweet crude has been increasing as onshore production from the eagle ford and bakken increases and production from the gulf of mexico declines .', 'in 2013 , the percentage of our u.s .', 'crude oil and condensate production that was sweet averaged 76 percent compared to 63 percent and 42 percent in 2012 and 2011 .', 'location 2013 in recent years , crude oil sold along the u.s .', 'gulf coast , such as that from the eagle ford , has been priced based on the louisiana light sweet ( "lls" ) benchmark which has historically priced at a premium to wti and has historically tracked closely to brent , while production from inland areas farther from large refineries has been priced lower .', 'the average annual wti .'] | 0.03091 | MRO/2013/page_39.pdf-2 | ['item 7 .', 'management 2019s discussion and analysis of financial condition and results of operations each of our segments is organized and managed based upon both geographic location and the nature of the products and services it offers : 2022 north america e&p 2013 explores for , produces and markets liquid hydrocarbons and natural gas in north america ; 2022 international e&p 2013 explores for , produces and markets liquid hydrocarbons and natural gas outside of north america and produces and markets products manufactured from natural gas , such as lng and methanol , in e.g. ; and 2022 oil sands mining 2013 mines , extracts and transports bitumen from oil sands deposits in alberta , canada , and upgrades the bitumen to produce and market synthetic crude oil and vacuum gas oil .', 'certain sections of management 2019s discussion and analysis of financial condition and results of operations include forward- looking statements concerning trends or events potentially affecting our business .', 'these statements typically contain words such as "anticipates" "believes" "estimates" "expects" "targets" "plans" "projects" "could" "may" "should" "would" or similar words indicating that future outcomes are uncertain .', 'in accordance with "safe harbor" provisions of the private securities litigation reform act of 1995 , these statements are accompanied by cautionary language identifying important factors , though not necessarily all such factors , which could cause future outcomes to differ materially from those set forth in the forward-looking statements .', 'for additional risk factors affecting our business , see item 1a .', 'risk factors in this annual report on form 10-k .', 'management 2019s discussion and analysis of financial condition and results of operations should be read in conjunction with the information under item 1 .', 'business , item 1a .', 'risk factors and item 8 .', 'financial statements and supplementary data found in this annual report on form 10-k .', 'spin-off downstream business on june 30 , 2011 , the spin-off of marathon 2019s downstream business was completed , creating two independent energy companies : marathon oil and mpc .', 'marathon stockholders at the close of business on the record date of june 27 , 2011 received one share of mpc common stock for every two shares of marathon common stock held .', 'a private letter tax ruling received in june 2011 from the irs affirmed the tax-free nature of the spin-off .', 'activities related to the downstream business have been treated as discontinued operations for all periods prior to the spin-off ( see item 8 .', 'financial statements and supplementary data 2013 note 3 to the consolidated financial statements for additional information ) .', 'overview 2013 market conditions prevailing prices for the various qualities of crude oil and natural gas that we produce significantly impact our revenues and cash flows .', 'the following table lists benchmark crude oil and natural gas price averages relative to our north america e&p and international e&p segments for the past three years. .'] | ['henry hub natural gas ( dollars per mmbtu ) ( a ) $ 3.65 $ 2.79 $ 4.04 ( a ) settlement date average .', 'north america e&p liquid hydrocarbons 2013 the quality , location and composition of our liquid hydrocarbon production mix can cause our north america e&p price realizations to differ from the wti benchmark .', 'quality 2013 light sweet crude contains less sulfur and tends to be lighter than sour crude oil so that refining it is less costly and has historically produced higher value products ; therefore , light sweet crude is considered of higher quality and has historically sold at a price that approximates wti or at a premium to wti .', 'the percentage of our north america e&p crude oil and condensate production that is light sweet crude has been increasing as onshore production from the eagle ford and bakken increases and production from the gulf of mexico declines .', 'in 2013 , the percentage of our u.s .', 'crude oil and condensate production that was sweet averaged 76 percent compared to 63 percent and 42 percent in 2012 and 2011 .', 'location 2013 in recent years , crude oil sold along the u.s .', 'gulf coast , such as that from the eagle ford , has been priced based on the louisiana light sweet ( "lls" ) benchmark which has historically priced at a premium to wti and has historically tracked closely to brent , while production from inland areas farther from large refineries has been priced lower .', 'the average annual wti .'] | ****************************************
• benchmark, 2013, 2012, 2011
• wti crude oil ( dollars per bbl ), $ 98.05, $ 94.15, $ 95.11
• brent ( europe ) crude oil ( dollars per bbl ), $ 108.64, $ 111.65, $ 111.26
• henry hub natural gas ( dollars per mmbtu ) ( a ), $ 3.65, $ 2.79, $ 4.04
**************************************** | subtract(98.05, 95.11), divide(#0, 95.11) | 0.03091 |
what was the percentage cable distribution systems capital expenditures of the capital expenditures incurred in cable communications segment capital expenditures in 2014? | Background: ['interest payments increased in 2015 primarily due to a higher level of debt outstanding .', 'interest payments remained relatively flat in 2014 .', 'the increase in income tax payments in 2015 was primarily due to higher taxable income from operations offset by the timing of certain tax deductions .', 'the decrease in income tax payments in 2014 was primarily due to the settlement of tax disputes and the repatriation of foreign earnings in 2013 .', 'the decrease was partially offset by higher taxable income from operations and the net impact of the economic stimulus legis- lation in 2014 .', 'we expect income tax payments to increase in 2016 primarily due to higher taxable income from operations .', 'investing activities net cash used in investing activities in 2015 consisted primarily of cash paid for capital expenditures , intangible assets , acquisitions and the purchases of investments , which was partially offset by proceeds from the sales of businesses and investments .', 'net cash used in investing activities in 2014 consisted primarily of cash paid for capital expenditures and intangible assets .', 'net cash used in investing activities in 2013 con- sisted primarily of cash paid for capital expenditures , acquisitions and construction of real estate properties , purchases of investments , and cash paid for intangible assets .', 'capital expenditures our most significant recurring investing activity has been capital expenditures in our cable communications segment , and we expect that this will continue in the future .', 'the table below summarizes the capital expenditures we incurred in our cable communications segment in 2015 , 2014 and 2013. .']
########
Table:
****************************************
year ended december 31 ( in millions ) 2015 2014 2013
cable distribution system $ 2424 $ 2047 $ 1819
customer premise equipment 3698 3397 2990
other equipment 756 613 527
buildings and building improvements 156 97 67
total $ 7034 $ 6154 $ 5403
****************************************
########
Post-table: ['cable communications capital expenditures increased in 2015 and 2014 primarily due to increased spending on customer premise equipment related to our x1 platform and wireless gateways , our continued investment in network infrastructure to increase network capacity , increased investment in support capital as we expand our cloud-based initiatives , and our continued investment to expand business services .', 'capital expenditures in our nbcuniversal segments increased 13.5% ( 13.5 % ) to $ 1.4 billion in 2015 and 5.3% ( 5.3 % ) to $ 1.2 billion in 2014 primarily due to continued investment in our universal theme parks , including a purchase of land in 2015 .', 'our capital expenditures for 2016 are focused on the continued deployment of our x1 platform and cloud dvr technology , acceleration of wireless gateways , network infrastructure to increase network capacity , and the expansion of business services .', 'capital expenditures for subsequent years will depend on numerous factors , including acquisitions , competition , changes in technology , regulatory changes , the timing and rate of deployment of new services , and the capacity required for existing services .', 'in addition , we expect to con- tinue to invest in existing and new attractions at our universal theme parks .', 'we are developing a universal theme park in beijing , china .', 'we expect the development of this park to continue in 2016 .', 'cash paid for intangible assets in 2015 , 2014 and 2013 , cash paid for intangible assets consisted primarily of expenditures for software .', 'comcast 2015 annual report on form 10-k 64 .'] | 0.33263 | CMCSA/2015/page_67.pdf-2 | ['interest payments increased in 2015 primarily due to a higher level of debt outstanding .', 'interest payments remained relatively flat in 2014 .', 'the increase in income tax payments in 2015 was primarily due to higher taxable income from operations offset by the timing of certain tax deductions .', 'the decrease in income tax payments in 2014 was primarily due to the settlement of tax disputes and the repatriation of foreign earnings in 2013 .', 'the decrease was partially offset by higher taxable income from operations and the net impact of the economic stimulus legis- lation in 2014 .', 'we expect income tax payments to increase in 2016 primarily due to higher taxable income from operations .', 'investing activities net cash used in investing activities in 2015 consisted primarily of cash paid for capital expenditures , intangible assets , acquisitions and the purchases of investments , which was partially offset by proceeds from the sales of businesses and investments .', 'net cash used in investing activities in 2014 consisted primarily of cash paid for capital expenditures and intangible assets .', 'net cash used in investing activities in 2013 con- sisted primarily of cash paid for capital expenditures , acquisitions and construction of real estate properties , purchases of investments , and cash paid for intangible assets .', 'capital expenditures our most significant recurring investing activity has been capital expenditures in our cable communications segment , and we expect that this will continue in the future .', 'the table below summarizes the capital expenditures we incurred in our cable communications segment in 2015 , 2014 and 2013. .'] | ['cable communications capital expenditures increased in 2015 and 2014 primarily due to increased spending on customer premise equipment related to our x1 platform and wireless gateways , our continued investment in network infrastructure to increase network capacity , increased investment in support capital as we expand our cloud-based initiatives , and our continued investment to expand business services .', 'capital expenditures in our nbcuniversal segments increased 13.5% ( 13.5 % ) to $ 1.4 billion in 2015 and 5.3% ( 5.3 % ) to $ 1.2 billion in 2014 primarily due to continued investment in our universal theme parks , including a purchase of land in 2015 .', 'our capital expenditures for 2016 are focused on the continued deployment of our x1 platform and cloud dvr technology , acceleration of wireless gateways , network infrastructure to increase network capacity , and the expansion of business services .', 'capital expenditures for subsequent years will depend on numerous factors , including acquisitions , competition , changes in technology , regulatory changes , the timing and rate of deployment of new services , and the capacity required for existing services .', 'in addition , we expect to con- tinue to invest in existing and new attractions at our universal theme parks .', 'we are developing a universal theme park in beijing , china .', 'we expect the development of this park to continue in 2016 .', 'cash paid for intangible assets in 2015 , 2014 and 2013 , cash paid for intangible assets consisted primarily of expenditures for software .', 'comcast 2015 annual report on form 10-k 64 .'] | ****************************************
year ended december 31 ( in millions ) 2015 2014 2013
cable distribution system $ 2424 $ 2047 $ 1819
customer premise equipment 3698 3397 2990
other equipment 756 613 527
buildings and building improvements 156 97 67
total $ 7034 $ 6154 $ 5403
**************************************** | divide(2047, 6154) | 0.33263 |
what was the growth rate of the ventas stock as of 12/31/2003 | Pre-text: ['stock performance graph the following performance graph compares the cumulative total return ( including dividends ) to the holders of our common stock from december 31 , 2002 through december 31 , 2007 , with the cumulative total returns of the nyse composite index , the ftse nareit composite reit index ( the 201call reit index 201d ) , the ftse nareit healthcare equity reit index ( the 201chealthcare reit index 201d ) and the russell 1000 index over the same period .', 'the comparison assumes $ 100 was invested on december 31 , 2002 in our common stock and in each of the foregoing indices and assumes reinvestment of dividends , as applicable .', 'we have included the nyse composite index in the performance graph because our common stock is listed on the nyse .', 'we have included the other indices because we believe that they are either most representative of the industry in which we compete , or otherwise provide a fair basis for comparison with ventas , and are therefore particularly relevant to an assessment of our performance .', 'the figures in the table below are rounded to the nearest dollar. .']
--------
Table:
========================================
12/31/2002 12/31/2003 12/31/2004 12/31/2005 12/31/2006 12/31/2007
ventas $ 100 $ 206 $ 270 $ 331 $ 457 $ 512
nyse composite index $ 100 $ 132 $ 151 $ 166 $ 200 $ 217
all reit index $ 100 $ 138 $ 181 $ 196 $ 262 $ 215
healthcare reit index $ 100 $ 154 $ 186 $ 189 $ 273 $ 279
russell 1000 index $ 100 $ 130 $ 145 $ 154 $ 178 $ 188
========================================
--------
Post-table: ['ventas nyse composite index all reit index healthcare reit index russell 1000 index .'] | 1.06 | VTR/2007/page_48.pdf-1 | ['stock performance graph the following performance graph compares the cumulative total return ( including dividends ) to the holders of our common stock from december 31 , 2002 through december 31 , 2007 , with the cumulative total returns of the nyse composite index , the ftse nareit composite reit index ( the 201call reit index 201d ) , the ftse nareit healthcare equity reit index ( the 201chealthcare reit index 201d ) and the russell 1000 index over the same period .', 'the comparison assumes $ 100 was invested on december 31 , 2002 in our common stock and in each of the foregoing indices and assumes reinvestment of dividends , as applicable .', 'we have included the nyse composite index in the performance graph because our common stock is listed on the nyse .', 'we have included the other indices because we believe that they are either most representative of the industry in which we compete , or otherwise provide a fair basis for comparison with ventas , and are therefore particularly relevant to an assessment of our performance .', 'the figures in the table below are rounded to the nearest dollar. .'] | ['ventas nyse composite index all reit index healthcare reit index russell 1000 index .'] | ========================================
12/31/2002 12/31/2003 12/31/2004 12/31/2005 12/31/2006 12/31/2007
ventas $ 100 $ 206 $ 270 $ 331 $ 457 $ 512
nyse composite index $ 100 $ 132 $ 151 $ 166 $ 200 $ 217
all reit index $ 100 $ 138 $ 181 $ 196 $ 262 $ 215
healthcare reit index $ 100 $ 154 $ 186 $ 189 $ 273 $ 279
russell 1000 index $ 100 $ 130 $ 145 $ 154 $ 178 $ 188
======================================== | subtract(206, const_100), divide(#0, const_100) | 1.06 |
between september 27 , 2008 and september 29 , 2007 how much in billions did the company 2019s cash , cash equivalents , and short- term investments held by foreign subsidiaries increase? | Pre-text: ['table of contents in march 2008 , the fasb issued sfas no .', '161 , disclosures about derivative instruments and hedging activities 2014an amendment of fasb statement no .', '133 , which requires companies to provide additional disclosures about its objectives and strategies for using derivative instruments , how the derivative instruments and related hedged items are accounted for under sfas no .', '133 , accounting for derivative instruments and hedging activities , and related interpretations , and how the derivative instruments and related hedged items affect the company 2019s financial statements .', 'sfas no .', '161 also requires companies to disclose information about credit risk-related contingent features in their hedged positions .', 'sfas no .', '161 is effective for fiscal years and interim periods beginning after november 15 , 2008 and is required to be adopted by the company beginning in the second quarter of fiscal 2009 .', 'although the company will continue to evaluate the application of sfas no .', '161 , management does not currently believe adoption will have a material impact on the company 2019s financial condition or operating results .', 'liquidity and capital resources the following table presents selected financial information and statistics as of and for the three fiscal years ended september 27 , 2008 ( in millions ) : as of september 27 , 2008 , the company had $ 24.5 billion in cash , cash equivalents , and short-term investments , an increase of $ 9.1 billion from september 29 , 2007 .', 'the principal components of this net increase were cash generated by operating activities of $ 9.6 billion , proceeds from the issuance of common stock under stock plans of $ 483 million and excess tax benefits from stock-based compensation of $ 757 million .', 'these increases were partially offset by payments for acquisitions of property , plant , and equipment of $ 1.1 billion , payments made in connection with business acquisitions , net of cash acquired , of $ 220 million and payments for acquisitions of intangible assets of $ 108 million .', 'the company 2019s cash generated by operating activities significantly exceeded its net income due primarily to the large increase in deferred revenue , net of deferred costs , associated with subscription accounting for iphone .', 'the company 2019s short-term investment portfolio is invested primarily in highly rated securities with a minimum rating of single-a .', 'as of september 27 , 2008 and september 29 , 2007 , $ 11.3 billion and $ 6.5 billion , respectively , of the company 2019s cash , cash equivalents , and short- term investments were held by foreign subsidiaries and are generally based in u.s .', 'dollar-denominated holdings .', 'the company had $ 117 million in net unrealized losses on its investment portfolio , primarily related to investments with stated maturities ranging from one to five years , as of september 27 , 2008 , and net unrealized losses of approximately $ 11 million on its investment portfolio , primarily related to investments with stated maturities from one to five years , as of september 29 , 2007 .', 'the company has the intent and ability to hold such investments for a sufficient period of time to allow for recovery of the principal amounts invested .', 'accordingly , none of these declines in fair value were recognized in the company 2019s statement of operations .', 'the company believes its existing balances of cash , cash equivalents , and short-term investments will be sufficient to satisfy its working capital needs , capital expenditures , outstanding commitments , and other liquidity requirements associated with its existing operations over the next 12 months .', 'capital assets the company 2019s cash payments for capital asset purchases were $ 1.1 billion during 2008 , consisting of $ 389 million for retail store facilities and $ 702 million for real estate acquisitions and corporate infrastructure including information systems enhancements .', 'the company anticipates utilizing approximately $ 1.5 billion for capital asset purchases during 2009 , including approximately $ 400 million for retail facilities and approximately $ 1.1 billion for corporate facilities and infrastructure. .']
Tabular Data:
----------------------------------------
| 2008 | 2007 | 2006
cash cash equivalents and short-term investments | $ 24490 | $ 15386 | $ 10110
accounts receivable net | $ 2422 | $ 1637 | $ 1252
inventory | $ 509 | $ 346 | $ 270
working capital | $ 20598 | $ 12676 | $ 8066
annual operating cash flow | $ 9596 | $ 5470 | $ 2220
----------------------------------------
Follow-up: ['.'] | 4.8 | AAPL/2008/page_52.pdf-2 | ['table of contents in march 2008 , the fasb issued sfas no .', '161 , disclosures about derivative instruments and hedging activities 2014an amendment of fasb statement no .', '133 , which requires companies to provide additional disclosures about its objectives and strategies for using derivative instruments , how the derivative instruments and related hedged items are accounted for under sfas no .', '133 , accounting for derivative instruments and hedging activities , and related interpretations , and how the derivative instruments and related hedged items affect the company 2019s financial statements .', 'sfas no .', '161 also requires companies to disclose information about credit risk-related contingent features in their hedged positions .', 'sfas no .', '161 is effective for fiscal years and interim periods beginning after november 15 , 2008 and is required to be adopted by the company beginning in the second quarter of fiscal 2009 .', 'although the company will continue to evaluate the application of sfas no .', '161 , management does not currently believe adoption will have a material impact on the company 2019s financial condition or operating results .', 'liquidity and capital resources the following table presents selected financial information and statistics as of and for the three fiscal years ended september 27 , 2008 ( in millions ) : as of september 27 , 2008 , the company had $ 24.5 billion in cash , cash equivalents , and short-term investments , an increase of $ 9.1 billion from september 29 , 2007 .', 'the principal components of this net increase were cash generated by operating activities of $ 9.6 billion , proceeds from the issuance of common stock under stock plans of $ 483 million and excess tax benefits from stock-based compensation of $ 757 million .', 'these increases were partially offset by payments for acquisitions of property , plant , and equipment of $ 1.1 billion , payments made in connection with business acquisitions , net of cash acquired , of $ 220 million and payments for acquisitions of intangible assets of $ 108 million .', 'the company 2019s cash generated by operating activities significantly exceeded its net income due primarily to the large increase in deferred revenue , net of deferred costs , associated with subscription accounting for iphone .', 'the company 2019s short-term investment portfolio is invested primarily in highly rated securities with a minimum rating of single-a .', 'as of september 27 , 2008 and september 29 , 2007 , $ 11.3 billion and $ 6.5 billion , respectively , of the company 2019s cash , cash equivalents , and short- term investments were held by foreign subsidiaries and are generally based in u.s .', 'dollar-denominated holdings .', 'the company had $ 117 million in net unrealized losses on its investment portfolio , primarily related to investments with stated maturities ranging from one to five years , as of september 27 , 2008 , and net unrealized losses of approximately $ 11 million on its investment portfolio , primarily related to investments with stated maturities from one to five years , as of september 29 , 2007 .', 'the company has the intent and ability to hold such investments for a sufficient period of time to allow for recovery of the principal amounts invested .', 'accordingly , none of these declines in fair value were recognized in the company 2019s statement of operations .', 'the company believes its existing balances of cash , cash equivalents , and short-term investments will be sufficient to satisfy its working capital needs , capital expenditures , outstanding commitments , and other liquidity requirements associated with its existing operations over the next 12 months .', 'capital assets the company 2019s cash payments for capital asset purchases were $ 1.1 billion during 2008 , consisting of $ 389 million for retail store facilities and $ 702 million for real estate acquisitions and corporate infrastructure including information systems enhancements .', 'the company anticipates utilizing approximately $ 1.5 billion for capital asset purchases during 2009 , including approximately $ 400 million for retail facilities and approximately $ 1.1 billion for corporate facilities and infrastructure. .'] | ['.'] | ----------------------------------------
| 2008 | 2007 | 2006
cash cash equivalents and short-term investments | $ 24490 | $ 15386 | $ 10110
accounts receivable net | $ 2422 | $ 1637 | $ 1252
inventory | $ 509 | $ 346 | $ 270
working capital | $ 20598 | $ 12676 | $ 8066
annual operating cash flow | $ 9596 | $ 5470 | $ 2220
---------------------------------------- | subtract(11.3, 6.5) | 4.8 |
what percentage of total freight revenues was the intermodal commodity group in 2015? | Background: ['notes to the consolidated financial statements union pacific corporation and subsidiary companies for purposes of this report , unless the context otherwise requires , all references herein to the 201ccorporation 201d , 201ccompany 201d , 201cupc 201d , 201cwe 201d , 201cus 201d , and 201cour 201d mean union pacific corporation and its subsidiaries , including union pacific railroad company , which will be separately referred to herein as 201cuprr 201d or the 201crailroad 201d .', '1 .', 'nature of operations operations and segmentation 2013 we are a class i railroad operating in the u.s .', 'our network includes 32084 route miles , linking pacific coast and gulf coast ports with the midwest and eastern u.s .', 'gateways and providing several corridors to key mexican gateways .', 'we own 26064 miles and operate on the remainder pursuant to trackage rights or leases .', 'we serve the western two-thirds of the country and maintain coordinated schedules with other rail carriers for the handling of freight to and from the atlantic coast , the pacific coast , the southeast , the southwest , canada , and mexico .', 'export and import traffic is moved through gulf coast and pacific coast ports and across the mexican and canadian borders .', 'the railroad , along with its subsidiaries and rail affiliates , is our one reportable operating segment .', 'although we provide and analyze revenue by commodity group , we treat the financial results of the railroad as one segment due to the integrated nature of our rail network .', 'the following table provides freight revenue by commodity group: .']
######
Tabular Data:
========================================
millions 2015 2014 2013
agricultural products $ 3581 $ 3777 $ 3276
automotive 2154 2103 2077
chemicals 3543 3664 3501
coal 3237 4127 3978
industrial products 3808 4400 3822
intermodal 4074 4489 4030
total freight revenues $ 20397 $ 22560 $ 20684
other revenues 1416 1428 1279
total operating revenues $ 21813 $ 23988 $ 21963
========================================
######
Additional Information: ['although our revenues are principally derived from customers domiciled in the u.s. , the ultimate points of origination or destination for some products transported by us are outside the u.s .', 'each of our commodity groups includes revenue from shipments to and from mexico .', 'included in the above table are freight revenues from our mexico business which amounted to $ 2.2 billion in 2015 , $ 2.3 billion in 2014 , and $ 2.1 billion in 2013 .', 'basis of presentation 2013 the consolidated financial statements are presented in accordance with accounting principles generally accepted in the u.s .', '( gaap ) as codified in the financial accounting standards board ( fasb ) accounting standards codification ( asc ) .', 'certain prior period amounts in the statement of cash flows and income tax footnote have been aggregated or disaggregated further to conform to the current period financial presentation .', '2 .', 'significant accounting policies principles of consolidation 2013 the consolidated financial statements include the accounts of union pacific corporation and all of its subsidiaries .', 'investments in affiliated companies ( 20% ( 20 % ) to 50% ( 50 % ) owned ) are accounted for using the equity method of accounting .', 'all intercompany transactions are eliminated .', 'we currently have no less than majority-owned investments that require consolidation under variable interest entity requirements .', 'cash and cash equivalents 2013 cash equivalents consist of investments with original maturities of three months or less .', 'accounts receivable 2013 accounts receivable includes receivables reduced by an allowance for doubtful accounts .', 'the allowance is based upon historical losses , credit worthiness of customers , and current .'] | 0.19974 | UNP/2015/page_56.pdf-4 | ['notes to the consolidated financial statements union pacific corporation and subsidiary companies for purposes of this report , unless the context otherwise requires , all references herein to the 201ccorporation 201d , 201ccompany 201d , 201cupc 201d , 201cwe 201d , 201cus 201d , and 201cour 201d mean union pacific corporation and its subsidiaries , including union pacific railroad company , which will be separately referred to herein as 201cuprr 201d or the 201crailroad 201d .', '1 .', 'nature of operations operations and segmentation 2013 we are a class i railroad operating in the u.s .', 'our network includes 32084 route miles , linking pacific coast and gulf coast ports with the midwest and eastern u.s .', 'gateways and providing several corridors to key mexican gateways .', 'we own 26064 miles and operate on the remainder pursuant to trackage rights or leases .', 'we serve the western two-thirds of the country and maintain coordinated schedules with other rail carriers for the handling of freight to and from the atlantic coast , the pacific coast , the southeast , the southwest , canada , and mexico .', 'export and import traffic is moved through gulf coast and pacific coast ports and across the mexican and canadian borders .', 'the railroad , along with its subsidiaries and rail affiliates , is our one reportable operating segment .', 'although we provide and analyze revenue by commodity group , we treat the financial results of the railroad as one segment due to the integrated nature of our rail network .', 'the following table provides freight revenue by commodity group: .'] | ['although our revenues are principally derived from customers domiciled in the u.s. , the ultimate points of origination or destination for some products transported by us are outside the u.s .', 'each of our commodity groups includes revenue from shipments to and from mexico .', 'included in the above table are freight revenues from our mexico business which amounted to $ 2.2 billion in 2015 , $ 2.3 billion in 2014 , and $ 2.1 billion in 2013 .', 'basis of presentation 2013 the consolidated financial statements are presented in accordance with accounting principles generally accepted in the u.s .', '( gaap ) as codified in the financial accounting standards board ( fasb ) accounting standards codification ( asc ) .', 'certain prior period amounts in the statement of cash flows and income tax footnote have been aggregated or disaggregated further to conform to the current period financial presentation .', '2 .', 'significant accounting policies principles of consolidation 2013 the consolidated financial statements include the accounts of union pacific corporation and all of its subsidiaries .', 'investments in affiliated companies ( 20% ( 20 % ) to 50% ( 50 % ) owned ) are accounted for using the equity method of accounting .', 'all intercompany transactions are eliminated .', 'we currently have no less than majority-owned investments that require consolidation under variable interest entity requirements .', 'cash and cash equivalents 2013 cash equivalents consist of investments with original maturities of three months or less .', 'accounts receivable 2013 accounts receivable includes receivables reduced by an allowance for doubtful accounts .', 'the allowance is based upon historical losses , credit worthiness of customers , and current .'] | ========================================
millions 2015 2014 2013
agricultural products $ 3581 $ 3777 $ 3276
automotive 2154 2103 2077
chemicals 3543 3664 3501
coal 3237 4127 3978
industrial products 3808 4400 3822
intermodal 4074 4489 4030
total freight revenues $ 20397 $ 22560 $ 20684
other revenues 1416 1428 1279
total operating revenues $ 21813 $ 23988 $ 21963
======================================== | divide(4074, 20397) | 0.19974 |
what percentage of future minimum lease payments under noncancelable operating leases having remaining terms in excess of one year are due in 2010? | Pre-text: ['notes to consolidated financial statements ( continued ) note 8 2014commitments and contingencies ( continued ) provide renewal options for terms of 3 to 7 additional years .', 'leases for retail space are for terms of 5 to 20 years , the majority of which are for 10 years , and often contain multi-year renewal options .', 'as of september 29 , 2007 , the company 2019s total future minimum lease payments under noncancelable operating leases were $ 1.4 billion , of which $ 1.1 billion related to leases for retail space .', 'rent expense under all operating leases , including both cancelable and noncancelable leases , was $ 151 million , $ 138 million , and $ 140 million in 2007 , 2006 , and 2005 , respectively .', 'future minimum lease payments under noncancelable operating leases having remaining terms in excess of one year as of september 29 , 2007 , are as follows ( in millions ) : fiscal years .']
##
Table:
****************************************
2008 | $ 155
2009 | 172
2010 | 173
2011 | 160
2012 | 148
thereafter | 617
total minimum lease payments | $ 1425
****************************************
##
Follow-up: ['accrued warranty and indemnifications the company offers a basic limited parts and labor warranty on its hardware products .', 'the basic warranty period for hardware products is typically one year from the date of purchase by the end-user .', 'the company also offers a 90-day basic warranty for its service parts used to repair the company 2019s hardware products .', 'the company provides currently for the estimated cost that may be incurred under its basic limited product warranties at the time related revenue is recognized .', 'factors considered in determining appropriate accruals for product warranty obligations include the size of the installed base of products subject to warranty protection , historical and projected warranty claim rates , historical and projected cost-per-claim , and knowledge of specific product failures that are outside of the company 2019s typical experience .', 'the company assesses the adequacy of its preexisting warranty liabilities and adjusts the amounts as necessary based on actual experience and changes in future estimates .', 'for products accounted for under subscription accounting pursuant to sop no .', '97-2 , the company recognizes warranty expense as incurred .', 'the company periodically provides updates to its applications and system software to maintain the software 2019s compliance with specifications .', 'the estimated cost to develop such updates is accounted for as warranty costs that are recognized at the time related software revenue is recognized .', 'factors considered in determining appropriate accruals related to such updates include the number of units delivered , the number of updates expected to occur , and the historical cost and estimated future cost of the resources necessary to develop these updates. .'] | 0.1214 | AAPL/2007/page_83.pdf-4 | ['notes to consolidated financial statements ( continued ) note 8 2014commitments and contingencies ( continued ) provide renewal options for terms of 3 to 7 additional years .', 'leases for retail space are for terms of 5 to 20 years , the majority of which are for 10 years , and often contain multi-year renewal options .', 'as of september 29 , 2007 , the company 2019s total future minimum lease payments under noncancelable operating leases were $ 1.4 billion , of which $ 1.1 billion related to leases for retail space .', 'rent expense under all operating leases , including both cancelable and noncancelable leases , was $ 151 million , $ 138 million , and $ 140 million in 2007 , 2006 , and 2005 , respectively .', 'future minimum lease payments under noncancelable operating leases having remaining terms in excess of one year as of september 29 , 2007 , are as follows ( in millions ) : fiscal years .'] | ['accrued warranty and indemnifications the company offers a basic limited parts and labor warranty on its hardware products .', 'the basic warranty period for hardware products is typically one year from the date of purchase by the end-user .', 'the company also offers a 90-day basic warranty for its service parts used to repair the company 2019s hardware products .', 'the company provides currently for the estimated cost that may be incurred under its basic limited product warranties at the time related revenue is recognized .', 'factors considered in determining appropriate accruals for product warranty obligations include the size of the installed base of products subject to warranty protection , historical and projected warranty claim rates , historical and projected cost-per-claim , and knowledge of specific product failures that are outside of the company 2019s typical experience .', 'the company assesses the adequacy of its preexisting warranty liabilities and adjusts the amounts as necessary based on actual experience and changes in future estimates .', 'for products accounted for under subscription accounting pursuant to sop no .', '97-2 , the company recognizes warranty expense as incurred .', 'the company periodically provides updates to its applications and system software to maintain the software 2019s compliance with specifications .', 'the estimated cost to develop such updates is accounted for as warranty costs that are recognized at the time related software revenue is recognized .', 'factors considered in determining appropriate accruals related to such updates include the number of units delivered , the number of updates expected to occur , and the historical cost and estimated future cost of the resources necessary to develop these updates. .'] | ****************************************
2008 | $ 155
2009 | 172
2010 | 173
2011 | 160
2012 | 148
thereafter | 617
total minimum lease payments | $ 1425
**************************************** | divide(173, 1425) | 0.1214 |
what percentage of total significant contractual obligations and commitments as of december 31 , 2007 are due in 2009? | Context: ['our existing cash flow hedges are highly effective and there is no current impact on earnings due to hedge ineffectiveness .', 'it is our policy to execute such instruments with credit-worthy banks and not to enter into derivative financial instruments for speculative purposes .', 'contractual obligations fis 2019s long-term contractual obligations generally include its long-term debt and operating lease payments on certain of its property and equipment .', 'the following table summarizes fis 2019s significant contractual obligations and commitments as of december 31 , 2007 ( in thousands ) : .']
Tabular Data:
========================================
• , 2008, 2009, 2010, 2011, 2012, thereafter, total
• long-term debt, $ 272014, $ 142850, $ 226000, $ 173500, $ 1945033, $ 1516000, $ 4275397
• interest, 254716, 238554, 227320, 218416, 109226, 101987, 1150219
• operating leases, 83382, 63060, 35269, 21598, 14860, 30869, 249038
• investment commitments, 47514, 2014, 2014, 2014, 2014, 2014, 47514
• purchase commitments, 33264, 2014, 2014, 2014, 2014, 2014, 33264
• data processing and maintenance commitments, 198290, 171411, 107105, 63010, 61035, 287479, 888330
• total, $ 889180, $ 615875, $ 595694, $ 476524, $ 2130154, $ 1936335, $ 6643762
========================================
Post-table: ['off-balance sheet arrangements fis does not have any material off-balance sheet arrangements other than operating leases .', 'escrow arrangements in conducting our title agency , closing and 1031 exchange services operations , we routinely hold customers 2019 assets in escrow , pending completion of real estate transactions .', 'certain of these amounts are maintained in segregated bank accounts and have not been included in the accompanying consolidated balance sheets .', 'we have a contingent liability relating to proper disposition of these balances , which amounted to $ 1926.8 million at december 31 , 2007 .', 'as a result of holding these customers 2019 assets in escrow , we have ongoing programs for realizing economic benefits during the year through favorable borrowing and vendor arrangements with various banks .', 'there were no loans outstanding as of december 31 , 2007 and these balances were invested in short term , high grade investments that minimize the risk to principal .', 'recent accounting pronouncements in december 2007 , the fasb issued sfas no .', '141 ( revised 2007 ) , business combinations ( 201csfas 141 ( r ) 201d ) , requiring an acquirer in a business combination to recognize the assets acquired , the liabilities assumed , and any noncontrolling interest in the acquiree at their fair values at the acquisition date , with limited exceptions .', 'the costs of the acquisition and any related restructuring costs will be recognized separately .', 'assets and liabilities arising from contingencies in a business combination are to be recognized at their fair value at the acquisition date and adjusted prospectively as new information becomes available .', 'when the fair value of assets acquired exceeds the fair value of consideration transferred plus any noncontrolling interest in the acquiree , the excess will be recognized as a gain .', 'under sfas 141 ( r ) , all business combinations will be accounted for by applying the acquisition method , including combinations among mutual entities and combinations by contract alone .', 'sfas 141 ( r ) applies prospectively to business combinations for which the acquisition date is on or after the first annual reporting period beginning on or after december 15 , 2008 , is effective for periods beginning on or after december 15 , 2008 , and will apply to business combinations occurring after the effective date .', 'management is currently evaluating the impact of this statement on our statements of financial position and operations .', 'in december 2007 , the fasb issued sfas no .', '160 , noncontrolling interests in consolidated financial statements 2014 an amendment of arb no .', '51 ( 201csfas 160 201d ) , requiring noncontrolling interests ( sometimes called minority interests ) to be presented as a component of equity on the balance sheet .', 'sfas 160 also requires that the amount of net income attributable to the parent and to the noncontrolling interests be clearly identified and presented on the face of the consolidated statement of income .', 'this statement eliminates the need to apply purchase .'] | 0.0927 | FIS/2007/page_52.pdf-1 | ['our existing cash flow hedges are highly effective and there is no current impact on earnings due to hedge ineffectiveness .', 'it is our policy to execute such instruments with credit-worthy banks and not to enter into derivative financial instruments for speculative purposes .', 'contractual obligations fis 2019s long-term contractual obligations generally include its long-term debt and operating lease payments on certain of its property and equipment .', 'the following table summarizes fis 2019s significant contractual obligations and commitments as of december 31 , 2007 ( in thousands ) : .'] | ['off-balance sheet arrangements fis does not have any material off-balance sheet arrangements other than operating leases .', 'escrow arrangements in conducting our title agency , closing and 1031 exchange services operations , we routinely hold customers 2019 assets in escrow , pending completion of real estate transactions .', 'certain of these amounts are maintained in segregated bank accounts and have not been included in the accompanying consolidated balance sheets .', 'we have a contingent liability relating to proper disposition of these balances , which amounted to $ 1926.8 million at december 31 , 2007 .', 'as a result of holding these customers 2019 assets in escrow , we have ongoing programs for realizing economic benefits during the year through favorable borrowing and vendor arrangements with various banks .', 'there were no loans outstanding as of december 31 , 2007 and these balances were invested in short term , high grade investments that minimize the risk to principal .', 'recent accounting pronouncements in december 2007 , the fasb issued sfas no .', '141 ( revised 2007 ) , business combinations ( 201csfas 141 ( r ) 201d ) , requiring an acquirer in a business combination to recognize the assets acquired , the liabilities assumed , and any noncontrolling interest in the acquiree at their fair values at the acquisition date , with limited exceptions .', 'the costs of the acquisition and any related restructuring costs will be recognized separately .', 'assets and liabilities arising from contingencies in a business combination are to be recognized at their fair value at the acquisition date and adjusted prospectively as new information becomes available .', 'when the fair value of assets acquired exceeds the fair value of consideration transferred plus any noncontrolling interest in the acquiree , the excess will be recognized as a gain .', 'under sfas 141 ( r ) , all business combinations will be accounted for by applying the acquisition method , including combinations among mutual entities and combinations by contract alone .', 'sfas 141 ( r ) applies prospectively to business combinations for which the acquisition date is on or after the first annual reporting period beginning on or after december 15 , 2008 , is effective for periods beginning on or after december 15 , 2008 , and will apply to business combinations occurring after the effective date .', 'management is currently evaluating the impact of this statement on our statements of financial position and operations .', 'in december 2007 , the fasb issued sfas no .', '160 , noncontrolling interests in consolidated financial statements 2014 an amendment of arb no .', '51 ( 201csfas 160 201d ) , requiring noncontrolling interests ( sometimes called minority interests ) to be presented as a component of equity on the balance sheet .', 'sfas 160 also requires that the amount of net income attributable to the parent and to the noncontrolling interests be clearly identified and presented on the face of the consolidated statement of income .', 'this statement eliminates the need to apply purchase .'] | ========================================
• , 2008, 2009, 2010, 2011, 2012, thereafter, total
• long-term debt, $ 272014, $ 142850, $ 226000, $ 173500, $ 1945033, $ 1516000, $ 4275397
• interest, 254716, 238554, 227320, 218416, 109226, 101987, 1150219
• operating leases, 83382, 63060, 35269, 21598, 14860, 30869, 249038
• investment commitments, 47514, 2014, 2014, 2014, 2014, 2014, 47514
• purchase commitments, 33264, 2014, 2014, 2014, 2014, 2014, 33264
• data processing and maintenance commitments, 198290, 171411, 107105, 63010, 61035, 287479, 888330
• total, $ 889180, $ 615875, $ 595694, $ 476524, $ 2130154, $ 1936335, $ 6643762
======================================== | divide(615875, 6643762) | 0.0927 |
what percentage of the total commercial commitments is credit facilities? | Context: ['amount of commitment expiration per period other commercial commitments after millions total 2015 2016 2017 2018 2019 2019 .']
--
Data Table:
other commercial commitmentsmillions | total | amount of commitment expiration per period 2015 | amount of commitment expiration per period 2016 | amount of commitment expiration per period 2017 | amount of commitment expiration per period 2018 | amount of commitment expiration per period 2019 | amount of commitment expiration per period after2019
----------|----------|----------|----------|----------|----------|----------|----------
credit facilities [a] | $ 1700 | $ - | $ - | $ - | $ - | $ 1700 | $ -
receivables securitization facility [b] | 650 | - | - | 650 | - | - | -
guarantees [c] | 82 | 12 | 26 | 10 | 11 | 8 | 15
standby letters of credit [d] | 40 | 34 | 6 | - | - | - | -
total commercialcommitments | $ 2472 | $ 46 | $ 32 | $ 660 | $ 11 | $ 1708 | $ 15
--
Post-table: ['[a] none of the credit facility was used as of december 31 , 2014 .', '[b] $ 400 million of the receivables securitization facility was utilized as of december 31 , 2014 , which is accounted for as debt .', 'the full program matures in july 2017 .', '[c] includes guaranteed obligations related to our equipment financings and affiliated operations .', '[d] none of the letters of credit were drawn upon as of december 31 , 2014 .', 'off-balance sheet arrangements guarantees 2013 at december 31 , 2014 , and 2013 , we were contingently liable for $ 82 million and $ 299 million in guarantees .', 'we have recorded liabilities of $ 0.3 million and $ 1 million for the fair value of these obligations as of december 31 , 2014 , and 2013 , respectively .', 'we entered into these contingent guarantees in the normal course of business , and they include guaranteed obligations related to our equipment financings and affiliated operations .', 'the final guarantee expires in 2022 .', 'we are not aware of any existing event of default that would require us to satisfy these guarantees .', 'we do not expect that these guarantees will have a material adverse effect on our consolidated financial condition , results of operations , or liquidity .', 'other matters labor agreements 2013 approximately 85% ( 85 % ) of our 47201 full-time-equivalent employees are represented by 14 major rail unions .', 'on january 1 , 2015 , current labor agreements became subject to modification and we began the current round of negotiations with the unions .', 'existing agreements remain in effect until new agreements are reached or the railway labor act 2019s procedures ( which include mediation , cooling-off periods , and the possibility of presidential emergency boards and congressional intervention ) are exhausted .', 'contract negotiations historically continue for an extended period of time and we rarely experience work stoppages while negotiations are pending .', 'inflation 2013 long periods of inflation significantly increase asset replacement costs for capital-intensive companies .', 'as a result , assuming that we replace all operating assets at current price levels , depreciation charges ( on an inflation-adjusted basis ) would be substantially greater than historically reported amounts .', 'derivative financial instruments 2013 we may use derivative financial instruments in limited instances to assist in managing our overall exposure to fluctuations in interest rates and fuel prices .', 'we are not a party to leveraged derivatives and , by policy , do not use derivative financial instruments for speculative purposes .', 'derivative financial instruments qualifying for hedge accounting must maintain a specified level of effectiveness between the hedging instrument and the item being hedged , both at inception and throughout the hedged period .', 'we formally document the nature and relationships between the hedging instruments and hedged items at inception , as well as our risk-management objectives , strategies for undertaking the various hedge transactions , and method of assessing hedge effectiveness .', 'changes in the fair market value of derivative financial instruments that do not qualify for hedge accounting are charged to earnings .', 'we may use swaps , collars , futures , and/or forward contracts to mitigate the risk of adverse movements in interest rates and fuel prices ; however , the use of these derivative financial instruments may limit future benefits from favorable price movements .', 'market and credit risk 2013 we address market risk related to derivative financial instruments by selecting instruments with value fluctuations that highly correlate with the underlying hedged item .', 'we manage credit risk related to derivative financial instruments , which is minimal , by requiring high credit standards for counterparties and periodic settlements .', 'at december 31 , 2014 and 2013 , we were not required to provide collateral , nor had we received collateral , relating to our hedging activities. .'] | 0.6877 | UNP/2014/page_41.pdf-1 | ['amount of commitment expiration per period other commercial commitments after millions total 2015 2016 2017 2018 2019 2019 .'] | ['[a] none of the credit facility was used as of december 31 , 2014 .', '[b] $ 400 million of the receivables securitization facility was utilized as of december 31 , 2014 , which is accounted for as debt .', 'the full program matures in july 2017 .', '[c] includes guaranteed obligations related to our equipment financings and affiliated operations .', '[d] none of the letters of credit were drawn upon as of december 31 , 2014 .', 'off-balance sheet arrangements guarantees 2013 at december 31 , 2014 , and 2013 , we were contingently liable for $ 82 million and $ 299 million in guarantees .', 'we have recorded liabilities of $ 0.3 million and $ 1 million for the fair value of these obligations as of december 31 , 2014 , and 2013 , respectively .', 'we entered into these contingent guarantees in the normal course of business , and they include guaranteed obligations related to our equipment financings and affiliated operations .', 'the final guarantee expires in 2022 .', 'we are not aware of any existing event of default that would require us to satisfy these guarantees .', 'we do not expect that these guarantees will have a material adverse effect on our consolidated financial condition , results of operations , or liquidity .', 'other matters labor agreements 2013 approximately 85% ( 85 % ) of our 47201 full-time-equivalent employees are represented by 14 major rail unions .', 'on january 1 , 2015 , current labor agreements became subject to modification and we began the current round of negotiations with the unions .', 'existing agreements remain in effect until new agreements are reached or the railway labor act 2019s procedures ( which include mediation , cooling-off periods , and the possibility of presidential emergency boards and congressional intervention ) are exhausted .', 'contract negotiations historically continue for an extended period of time and we rarely experience work stoppages while negotiations are pending .', 'inflation 2013 long periods of inflation significantly increase asset replacement costs for capital-intensive companies .', 'as a result , assuming that we replace all operating assets at current price levels , depreciation charges ( on an inflation-adjusted basis ) would be substantially greater than historically reported amounts .', 'derivative financial instruments 2013 we may use derivative financial instruments in limited instances to assist in managing our overall exposure to fluctuations in interest rates and fuel prices .', 'we are not a party to leveraged derivatives and , by policy , do not use derivative financial instruments for speculative purposes .', 'derivative financial instruments qualifying for hedge accounting must maintain a specified level of effectiveness between the hedging instrument and the item being hedged , both at inception and throughout the hedged period .', 'we formally document the nature and relationships between the hedging instruments and hedged items at inception , as well as our risk-management objectives , strategies for undertaking the various hedge transactions , and method of assessing hedge effectiveness .', 'changes in the fair market value of derivative financial instruments that do not qualify for hedge accounting are charged to earnings .', 'we may use swaps , collars , futures , and/or forward contracts to mitigate the risk of adverse movements in interest rates and fuel prices ; however , the use of these derivative financial instruments may limit future benefits from favorable price movements .', 'market and credit risk 2013 we address market risk related to derivative financial instruments by selecting instruments with value fluctuations that highly correlate with the underlying hedged item .', 'we manage credit risk related to derivative financial instruments , which is minimal , by requiring high credit standards for counterparties and periodic settlements .', 'at december 31 , 2014 and 2013 , we were not required to provide collateral , nor had we received collateral , relating to our hedging activities. .'] | other commercial commitmentsmillions | total | amount of commitment expiration per period 2015 | amount of commitment expiration per period 2016 | amount of commitment expiration per period 2017 | amount of commitment expiration per period 2018 | amount of commitment expiration per period 2019 | amount of commitment expiration per period after2019
----------|----------|----------|----------|----------|----------|----------|----------
credit facilities [a] | $ 1700 | $ - | $ - | $ - | $ - | $ 1700 | $ -
receivables securitization facility [b] | 650 | - | - | 650 | - | - | -
guarantees [c] | 82 | 12 | 26 | 10 | 11 | 8 | 15
standby letters of credit [d] | 40 | 34 | 6 | - | - | - | -
total commercialcommitments | $ 2472 | $ 46 | $ 32 | $ 660 | $ 11 | $ 1708 | $ 15 | divide(1700, 2472) | 0.6877 |
what is the effective income tax rate in 2011 based on the information about the gains on sales of discontinued operations? | Context: ['analog devices , inc .', 'notes to consolidated financial statements 2014 ( continued ) asu no .', '2011-05 is effective for fiscal years , and interim periods within those years , beginning after december 15 , 2011 , which is the company 2019s fiscal year 2013 .', 'subsequently , in december 2011 , the fasb issued asu no .', '2011-12 , deferral of the effective date for amendments to the presentation of reclassifications of items out of accumulated other comprehensive income in accounting standards update no .', '2011-05 ( asu no .', '2011-12 ) , which defers only those changes in asu no .', '2011-05 that relate to the presentation of reclassification adjustments but does not affect all other requirements in asu no .', '2011-05 .', 'the adoption of asu no .', '2011-05 and asu no .', '2011-12 will affect the presentation of comprehensive income but will not materially impact the company 2019s financial condition or results of operations .', 'u .', 'discontinued operations in november 2007 , the company entered into a purchase and sale agreement with certain subsidiaries of on semiconductor corporation to sell the company 2019s cpu voltage regulation and pc thermal monitoring business which consisted of core voltage regulator products for the central processing unit in computing and gaming applications and temperature sensors and fan-speed controllers for managing the temperature of the central processing unit .', 'during fiscal 2008 , the company completed the sale of this business .', 'in the first quarter of fiscal 2010 , proceeds of $ 1 million were released from escrow and $ 0.6 million net of tax was recorded as additional gain from the sale of discontinued operations .', 'the company does not expect any additional proceeds from this sale .', 'in september 2007 , the company entered into a definitive agreement to sell its baseband chipset business to mediatek inc .', 'the decision to sell the baseband chipset business was due to the company 2019s decision to focus its resources in areas where its signal processing expertise can provide unique capabilities and earn superior returns .', 'during fiscal 2008 , the company completed the sale of its baseband chipset business for net cash proceeds of $ 269 million .', 'the company made cash payments of $ 1.7 million during fiscal 2009 related to retention payments for employees who transferred to mediatek inc .', 'and for the reimbursement of intellectual property license fees incurred by mediatek .', 'during fiscal 2010 , the company received cash proceeds of $ 62 million as a result of the receipt of a refundable withholding tax and also recorded an additional gain on sale of $ 0.3 million , or $ 0.2 million net of tax , due to the settlement of certain items at less than the amounts accrued .', 'in fiscal 2011 , additional proceeds of $ 10 million were released from escrow and $ 6.5 million net of tax was recorded as additional gain from the sale of discontinued operations .', 'the company does not expect any additional proceeds from this sale .', 'the following amounts related to the cpu voltage regulation and pc thermal monitoring and baseband chipset businesses have been segregated from continuing operations and reported as discontinued operations. .']
######
Tabular Data:
****************************************
| 2012 | 2011 | 2010
----------|----------|----------|----------
gain on sale of discontinued operations before income taxes | $ 2014 | $ 10000 | $ 1316
provision for income taxes | 2014 | 3500 | 457
gain on sale of discontinued operations net of tax | $ 2014 | $ 6500 | $ 859
****************************************
######
Follow-up: ['3 .', 'stock-based compensation and shareholders 2019 equity equity compensation plans the company grants , or has granted , stock options and other stock and stock-based awards under the 2006 stock incentive plan ( 2006 plan ) .', 'the 2006 plan was approved by the company 2019s board of directors on january 23 , 2006 and was approved by shareholders on march 14 , 2006 and subsequently amended in march 2006 , june 2009 , september 2009 , december 2009 , december 2010 and june 2011 .', 'the 2006 plan provides for the grant of up to 15 million shares of the company 2019s common stock , plus such number of additional shares that were subject to outstanding options under the company 2019s previous plans that are not issued because the applicable option award subsequently terminates or expires without being exercised .', 'the 2006 plan provides for the grant of incentive stock options intended to qualify under section 422 of the internal revenue code of 1986 , as amended , non-statutory stock options , stock appreciation rights , restricted stock , restricted stock units and other stock-based awards .', 'employees , officers , directors , consultants and advisors of the company and its subsidiaries are eligible to be granted awards under the 2006 plan .', 'no award may be made under the 2006 plan after march 13 , 2016 , but awards previously granted may extend beyond that date .', 'the company will not grant further options under any previous plans .', 'while the company may grant to employees options that become exercisable at different times or within different periods , the company has generally granted to employees options that vest over five years and become exercisable in annual installments of 20% ( 20 % ) on each of the first , second , third , fourth and fifth anniversaries of the date of grant ; 33.3% ( 33.3 % ) on each of the third , fourth , and fifth anniversaries of the date of grant ; or in annual installments of 25% ( 25 % ) on each of the second , third , fourth .'] | 0.035 | ADI/2012/page_65.pdf-1 | ['analog devices , inc .', 'notes to consolidated financial statements 2014 ( continued ) asu no .', '2011-05 is effective for fiscal years , and interim periods within those years , beginning after december 15 , 2011 , which is the company 2019s fiscal year 2013 .', 'subsequently , in december 2011 , the fasb issued asu no .', '2011-12 , deferral of the effective date for amendments to the presentation of reclassifications of items out of accumulated other comprehensive income in accounting standards update no .', '2011-05 ( asu no .', '2011-12 ) , which defers only those changes in asu no .', '2011-05 that relate to the presentation of reclassification adjustments but does not affect all other requirements in asu no .', '2011-05 .', 'the adoption of asu no .', '2011-05 and asu no .', '2011-12 will affect the presentation of comprehensive income but will not materially impact the company 2019s financial condition or results of operations .', 'u .', 'discontinued operations in november 2007 , the company entered into a purchase and sale agreement with certain subsidiaries of on semiconductor corporation to sell the company 2019s cpu voltage regulation and pc thermal monitoring business which consisted of core voltage regulator products for the central processing unit in computing and gaming applications and temperature sensors and fan-speed controllers for managing the temperature of the central processing unit .', 'during fiscal 2008 , the company completed the sale of this business .', 'in the first quarter of fiscal 2010 , proceeds of $ 1 million were released from escrow and $ 0.6 million net of tax was recorded as additional gain from the sale of discontinued operations .', 'the company does not expect any additional proceeds from this sale .', 'in september 2007 , the company entered into a definitive agreement to sell its baseband chipset business to mediatek inc .', 'the decision to sell the baseband chipset business was due to the company 2019s decision to focus its resources in areas where its signal processing expertise can provide unique capabilities and earn superior returns .', 'during fiscal 2008 , the company completed the sale of its baseband chipset business for net cash proceeds of $ 269 million .', 'the company made cash payments of $ 1.7 million during fiscal 2009 related to retention payments for employees who transferred to mediatek inc .', 'and for the reimbursement of intellectual property license fees incurred by mediatek .', 'during fiscal 2010 , the company received cash proceeds of $ 62 million as a result of the receipt of a refundable withholding tax and also recorded an additional gain on sale of $ 0.3 million , or $ 0.2 million net of tax , due to the settlement of certain items at less than the amounts accrued .', 'in fiscal 2011 , additional proceeds of $ 10 million were released from escrow and $ 6.5 million net of tax was recorded as additional gain from the sale of discontinued operations .', 'the company does not expect any additional proceeds from this sale .', 'the following amounts related to the cpu voltage regulation and pc thermal monitoring and baseband chipset businesses have been segregated from continuing operations and reported as discontinued operations. .'] | ['3 .', 'stock-based compensation and shareholders 2019 equity equity compensation plans the company grants , or has granted , stock options and other stock and stock-based awards under the 2006 stock incentive plan ( 2006 plan ) .', 'the 2006 plan was approved by the company 2019s board of directors on january 23 , 2006 and was approved by shareholders on march 14 , 2006 and subsequently amended in march 2006 , june 2009 , september 2009 , december 2009 , december 2010 and june 2011 .', 'the 2006 plan provides for the grant of up to 15 million shares of the company 2019s common stock , plus such number of additional shares that were subject to outstanding options under the company 2019s previous plans that are not issued because the applicable option award subsequently terminates or expires without being exercised .', 'the 2006 plan provides for the grant of incentive stock options intended to qualify under section 422 of the internal revenue code of 1986 , as amended , non-statutory stock options , stock appreciation rights , restricted stock , restricted stock units and other stock-based awards .', 'employees , officers , directors , consultants and advisors of the company and its subsidiaries are eligible to be granted awards under the 2006 plan .', 'no award may be made under the 2006 plan after march 13 , 2016 , but awards previously granted may extend beyond that date .', 'the company will not grant further options under any previous plans .', 'while the company may grant to employees options that become exercisable at different times or within different periods , the company has generally granted to employees options that vest over five years and become exercisable in annual installments of 20% ( 20 % ) on each of the first , second , third , fourth and fifth anniversaries of the date of grant ; 33.3% ( 33.3 % ) on each of the third , fourth , and fifth anniversaries of the date of grant ; or in annual installments of 25% ( 25 % ) on each of the second , third , fourth .'] | ****************************************
| 2012 | 2011 | 2010
----------|----------|----------|----------
gain on sale of discontinued operations before income taxes | $ 2014 | $ 10000 | $ 1316
provision for income taxes | 2014 | 3500 | 457
gain on sale of discontinued operations net of tax | $ 2014 | $ 6500 | $ 859
**************************************** | divide(3500, const_100000) | 0.035 |
the deepwater write-down was what percent of total impairments? | Pre-text: ['the aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2011 , 2010 , and 2009 may require the government to acquire an ownership interest and the current expectation of future losses .', 'our evaluation indicated that the long-lived assets were no longer recoverable and , accordingly , they were written down to their estimated fair value of $ 24 million based on a discounted cash flow analysis .', 'the long-lived assets had a carrying amount of $ 66 million prior to the recognition of asset impairment expense .', 'kelanitissa is a build- operate-transfer ( bot ) generation facility and payments under its ppa are scheduled to decline over the ppa term .', 'it is possible that further impairment charges may be required in the future as kelanitissa gets closer to the bot date .', 'kelanitissa is reported in the asia generation reportable segment .', 'asset impairment expense for the year ended december 31 , 2010 consisted of : ( in millions ) .']
Data Table:
****************************************
• , 2010 ( in millions )
• southland ( huntington beach ), $ 200
• tisza ii, 85
• deepwater, 79
• other, 25
• total, $ 389
****************************************
Post-table: ['southland 2014in september 2010 , a new environmental policy on the use of ocean water to cool generation facilities was issued in california that requires generation plants to comply with the policy by december 31 , 2020 and would require significant capital expenditure or plants 2019 shutdown .', 'the company 2019s huntington beach gas-fired generation facility in california , which is part of aes 2019 southland business , was impacted by the new policy .', 'the company performed an asset impairment test and determined the fair value of the asset group using a discounted cash flow analysis .', 'the carrying value of the asset group of $ 288 million exceeded the fair value of $ 88 million resulting in the recognition of asset impairment expense of $ 200 million for the year ended december 31 , 2010 .', 'southland is reported in the north america generation reportable segment .', 'tisza ii 2014during the third quarter of 2010 , the company entered into annual negotiations with the offtaker of tisza ii .', 'as a result of these preliminary negotiations , as well as the further deterioration of the economic environment in hungary , the company determined that an indicator of impairment existed at september 30 , 2010 .', 'thus , the company performed an asset impairment test and determined that based on the undiscounted cash flow analysis , the carrying amount of the tisza ii asset group was not recoverable .', 'the fair value of the asset group was then determined using a discounted cash flow analysis .', 'the carrying value of the tisza ii asset group of $ 160 million exceeded the fair value of $ 75 million resulting in the recognition of asset impairment expense of $ 85 million during the year ended december 31 , 2010 .', 'deepwater 2014in 2010 , deepwater , our 160 mw petcoke-fired merchant power plant located in texas , experienced deteriorating market conditions due to increasing petcoke prices and diminishing power prices .', 'as a result , deepwater incurred operating losses and was shut down from time to time to avoid negative operating margin .', 'in the fourth quarter of 2010 , management concluded that , on an undiscounted cash flow basis , the carrying amount of the asset group was no longer recoverable .', 'the fair value of deepwater was determined using a discounted cash flow analysis and $ 79 million of impairment expense was recognized .', 'deepwater is reported in the north america generation reportable segment. .'] | 0.20308 | AES/2011/page_261.pdf-2 | ['the aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2011 , 2010 , and 2009 may require the government to acquire an ownership interest and the current expectation of future losses .', 'our evaluation indicated that the long-lived assets were no longer recoverable and , accordingly , they were written down to their estimated fair value of $ 24 million based on a discounted cash flow analysis .', 'the long-lived assets had a carrying amount of $ 66 million prior to the recognition of asset impairment expense .', 'kelanitissa is a build- operate-transfer ( bot ) generation facility and payments under its ppa are scheduled to decline over the ppa term .', 'it is possible that further impairment charges may be required in the future as kelanitissa gets closer to the bot date .', 'kelanitissa is reported in the asia generation reportable segment .', 'asset impairment expense for the year ended december 31 , 2010 consisted of : ( in millions ) .'] | ['southland 2014in september 2010 , a new environmental policy on the use of ocean water to cool generation facilities was issued in california that requires generation plants to comply with the policy by december 31 , 2020 and would require significant capital expenditure or plants 2019 shutdown .', 'the company 2019s huntington beach gas-fired generation facility in california , which is part of aes 2019 southland business , was impacted by the new policy .', 'the company performed an asset impairment test and determined the fair value of the asset group using a discounted cash flow analysis .', 'the carrying value of the asset group of $ 288 million exceeded the fair value of $ 88 million resulting in the recognition of asset impairment expense of $ 200 million for the year ended december 31 , 2010 .', 'southland is reported in the north america generation reportable segment .', 'tisza ii 2014during the third quarter of 2010 , the company entered into annual negotiations with the offtaker of tisza ii .', 'as a result of these preliminary negotiations , as well as the further deterioration of the economic environment in hungary , the company determined that an indicator of impairment existed at september 30 , 2010 .', 'thus , the company performed an asset impairment test and determined that based on the undiscounted cash flow analysis , the carrying amount of the tisza ii asset group was not recoverable .', 'the fair value of the asset group was then determined using a discounted cash flow analysis .', 'the carrying value of the tisza ii asset group of $ 160 million exceeded the fair value of $ 75 million resulting in the recognition of asset impairment expense of $ 85 million during the year ended december 31 , 2010 .', 'deepwater 2014in 2010 , deepwater , our 160 mw petcoke-fired merchant power plant located in texas , experienced deteriorating market conditions due to increasing petcoke prices and diminishing power prices .', 'as a result , deepwater incurred operating losses and was shut down from time to time to avoid negative operating margin .', 'in the fourth quarter of 2010 , management concluded that , on an undiscounted cash flow basis , the carrying amount of the asset group was no longer recoverable .', 'the fair value of deepwater was determined using a discounted cash flow analysis and $ 79 million of impairment expense was recognized .', 'deepwater is reported in the north america generation reportable segment. .'] | ****************************************
• , 2010 ( in millions )
• southland ( huntington beach ), $ 200
• tisza ii, 85
• deepwater, 79
• other, 25
• total, $ 389
**************************************** | divide(79, 389) | 0.20308 |
considering the final year of the investment , what was the highest return for the initial 100$ ? | Background: ['performance graph the annual changes for the period shown december 1 , 2013 ( when our ordinary shares began trading ) to december 31 , 2017 in the graph on this page are based on the assumption that $ 100 had been invested in allegion plc ordinary shares , the standard & poor 2019s 500 stock index ( "s&p 500" ) and the standard & poor\'s 400 capital goods index ( "s&p 400 capital goods" ) on december 1 , 2013 , and that all quarterly dividends were reinvested .', 'the total cumulative dollar returns shown on the graph represent the value that such investments would have had on december 31 , 2017 .', 'december 1 , december 31 , december 31 , december 31 , december 31 , december 31 .']
Data Table:
****************************************
Row 1: , december 1 2013, december 31 2013, december 31 2014, december 31 2015, december 31 2016, december 31 2017
Row 2: allegion plc, 100.00, 102.20, 129.03, 154.37, 150.97, 189.19
Row 3: s&p 500, 100.00, 102.53, 116.57, 118.18, 132.31, 161.20
Row 4: s&p 400 capital goods, 100.00, 104.58, 104.84, 99.07, 130.70, 162.97
****************************************
Follow-up: ['.'] | 89.19 | ALLE/2017/page_44.pdf-1 | ['performance graph the annual changes for the period shown december 1 , 2013 ( when our ordinary shares began trading ) to december 31 , 2017 in the graph on this page are based on the assumption that $ 100 had been invested in allegion plc ordinary shares , the standard & poor 2019s 500 stock index ( "s&p 500" ) and the standard & poor\'s 400 capital goods index ( "s&p 400 capital goods" ) on december 1 , 2013 , and that all quarterly dividends were reinvested .', 'the total cumulative dollar returns shown on the graph represent the value that such investments would have had on december 31 , 2017 .', 'december 1 , december 31 , december 31 , december 31 , december 31 , december 31 .'] | ['.'] | ****************************************
Row 1: , december 1 2013, december 31 2013, december 31 2014, december 31 2015, december 31 2016, december 31 2017
Row 2: allegion plc, 100.00, 102.20, 129.03, 154.37, 150.97, 189.19
Row 3: s&p 500, 100.00, 102.53, 116.57, 118.18, 132.31, 161.20
Row 4: s&p 400 capital goods, 100.00, 104.58, 104.84, 99.07, 130.70, 162.97
**************************************** | subtract(189.19, 100) | 89.19 |
in 2005 what was the quarterly dividend expense | Pre-text: ['liabilities and related insurance receivables where applicable , or make such estimates for matters previously not susceptible of reasonable estimates , such as a significant judicial ruling or judgment , significant settlement , significant regulatory development or changes in applicable law .', 'a future adverse ruling , settlement or unfavorable development could result in future charges that could have a material adverse effect on the company 2019s results of operations or cash flows in any particular period .', 'a specific factor that could increase the company 2019s estimate of its future asbestos-related liabilities is the pending congressional consideration of legislation to reform asbestos- related litigation and pertinent information derived from that process .', 'for a more detailed discussion of the legal proceedings involving the company and associated accounting estimates , see the discussion in note 11 to the consolidated financial statements of this annual report on form 10-k .', 'item 1b .', 'unresolved staff comments .', 'item 2 .', 'properties .', '3m 2019s general offices , corporate research laboratories , and certain division laboratories are located in st .', 'paul , minnesota .', 'in the united states , 3m has 15 sales offices in 12 states and operates 59 manufacturing facilities in 23 states .', 'internationally , 3m has 173 sales offices .', 'the company operates 80 manufacturing and converting facilities in 29 countries outside the united states .', '3m owns substantially all of its physical properties .', '3m 2019s physical facilities are highly suitable for the purposes for which they were designed .', 'because 3m is a global enterprise characterized by substantial intersegment cooperation , properties are often used by multiple business segments .', 'item 3 .', 'legal proceedings .', 'discussion of legal matters is incorporated by reference from part ii , item 8 , note 11 , 201ccommitments and contingencies 201d , of this document , and should be considered an integral part of part i , item 3 , 201clegal proceedings 201d .', 'item 4 .', 'submission of matters to a vote of security holders .', 'none in the quarter ended december 31 , 2005 .', 'part ii item 5 .', 'market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities .', 'equity compensation plans 2019 information is incorporated by reference from part iii , item 12 , security ownership of certain beneficial owners and management , of this document , and should be considered an integral part of item 5 .', 'at january 31 , 2006 , there were approximately 125823 shareholders of record .', '3m 2019s stock is listed on the new york stock exchange , inc .', '( nyse ) , pacific exchange , inc. , chicago stock exchange , inc. , and the swx swiss exchange .', 'cash dividends declared and paid totaled $ .42 per share for each quarter of 2005 , and $ .36 per share for each quarter of 2004 .', 'stock price comparisons follow : stock price comparisons ( nyse composite transactions ) ( per share amounts ) quarter second quarter quarter fourth quarter year .']
Data Table:
****************************************
( per share amounts ) first quarter second quarter third quarter fourth quarter year
2005 high $ 87.45 $ 86.21 $ 76.74 $ 79.84 $ 87.45
2005 low 80.73 $ 72.25 70.41 69.71 69.71
2004 high $ 86.20 $ 90.29 $ 90.11 $ 83.03 $ 90.29
2004 low 74.35 80.90 77.20 73.31 73.31
****************************************
Follow-up: ['.'] | 52845.66 | MMM/2005/page_36.pdf-2 | ['liabilities and related insurance receivables where applicable , or make such estimates for matters previously not susceptible of reasonable estimates , such as a significant judicial ruling or judgment , significant settlement , significant regulatory development or changes in applicable law .', 'a future adverse ruling , settlement or unfavorable development could result in future charges that could have a material adverse effect on the company 2019s results of operations or cash flows in any particular period .', 'a specific factor that could increase the company 2019s estimate of its future asbestos-related liabilities is the pending congressional consideration of legislation to reform asbestos- related litigation and pertinent information derived from that process .', 'for a more detailed discussion of the legal proceedings involving the company and associated accounting estimates , see the discussion in note 11 to the consolidated financial statements of this annual report on form 10-k .', 'item 1b .', 'unresolved staff comments .', 'item 2 .', 'properties .', '3m 2019s general offices , corporate research laboratories , and certain division laboratories are located in st .', 'paul , minnesota .', 'in the united states , 3m has 15 sales offices in 12 states and operates 59 manufacturing facilities in 23 states .', 'internationally , 3m has 173 sales offices .', 'the company operates 80 manufacturing and converting facilities in 29 countries outside the united states .', '3m owns substantially all of its physical properties .', '3m 2019s physical facilities are highly suitable for the purposes for which they were designed .', 'because 3m is a global enterprise characterized by substantial intersegment cooperation , properties are often used by multiple business segments .', 'item 3 .', 'legal proceedings .', 'discussion of legal matters is incorporated by reference from part ii , item 8 , note 11 , 201ccommitments and contingencies 201d , of this document , and should be considered an integral part of part i , item 3 , 201clegal proceedings 201d .', 'item 4 .', 'submission of matters to a vote of security holders .', 'none in the quarter ended december 31 , 2005 .', 'part ii item 5 .', 'market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities .', 'equity compensation plans 2019 information is incorporated by reference from part iii , item 12 , security ownership of certain beneficial owners and management , of this document , and should be considered an integral part of item 5 .', 'at january 31 , 2006 , there were approximately 125823 shareholders of record .', '3m 2019s stock is listed on the new york stock exchange , inc .', '( nyse ) , pacific exchange , inc. , chicago stock exchange , inc. , and the swx swiss exchange .', 'cash dividends declared and paid totaled $ .42 per share for each quarter of 2005 , and $ .36 per share for each quarter of 2004 .', 'stock price comparisons follow : stock price comparisons ( nyse composite transactions ) ( per share amounts ) quarter second quarter quarter fourth quarter year .'] | ['.'] | ****************************************
( per share amounts ) first quarter second quarter third quarter fourth quarter year
2005 high $ 87.45 $ 86.21 $ 76.74 $ 79.84 $ 87.45
2005 low 80.73 $ 72.25 70.41 69.71 69.71
2004 high $ 86.20 $ 90.29 $ 90.11 $ 83.03 $ 90.29
2004 low 74.35 80.90 77.20 73.31 73.31
**************************************** | multiply(125823, .42) | 52845.66 |
what is the roi of an investment in s&p500 from 2016 to 2017? | Context: ['stock performance graph : the graph below shows the cumulative total shareholder return assuming the investment of $ 100 , on december 31 , 2012 , and the reinvestment of dividends thereafter , if any , in the company 2019s common stock versus the standard and poor 2019s s&p 500 retail index ( 201cs&p 500 retail index 201d ) and the standard and poor 2019s s&p 500 index ( 201cs&p 500 201d ) . .']
####
Data Table:
----------------------------------------
company/index december 31 , 2012 december 31 , 2013 december 31 , 2014 december 31 , 2015 december 31 , 2016 december 31 , 2017
o 2019reilly automotive inc . $ 100 $ 144 $ 215 $ 283 $ 311 $ 269
s&p 500 retail index 100 144 158 197 206 265
s&p 500 $ 100 $ 130 $ 144 $ 143 $ 157 $ 187
----------------------------------------
####
Post-table: ['.'] | 0.19108 | ORLY/2017/page_30.pdf-3 | ['stock performance graph : the graph below shows the cumulative total shareholder return assuming the investment of $ 100 , on december 31 , 2012 , and the reinvestment of dividends thereafter , if any , in the company 2019s common stock versus the standard and poor 2019s s&p 500 retail index ( 201cs&p 500 retail index 201d ) and the standard and poor 2019s s&p 500 index ( 201cs&p 500 201d ) . .'] | ['.'] | ----------------------------------------
company/index december 31 , 2012 december 31 , 2013 december 31 , 2014 december 31 , 2015 december 31 , 2016 december 31 , 2017
o 2019reilly automotive inc . $ 100 $ 144 $ 215 $ 283 $ 311 $ 269
s&p 500 retail index 100 144 158 197 206 265
s&p 500 $ 100 $ 130 $ 144 $ 143 $ 157 $ 187
---------------------------------------- | subtract(187, 157), divide(#0, 157) | 0.19108 |
as of october 31 , 2018 , what was the average square footage per location bd owned or leased in square feet . | Background: ['agreements containing cross-default provisions .', 'under these circumstances , we might not have sufficient funds or other resources to satisfy all of our obligations .', 'the mandatory convertible preferred stock underlying the depositary shares issued in connection with the financing of the bard transaction may adversely affect the market price of bd common stock .', 'the market price of bd common stock is likely to be influenced by the mandatory convertible preferred stock underlying the depositary shares issued in connection with the financing for the bard transaction .', 'the market price of bd common stock could become more volatile and could be depressed by : 2022 investors 2019 anticipation of the potential resale in the market of a substantial number of additional shares of bd common stock received upon conversion of the mandatory convertible preferred stock ; 2022 possible sales of bd common stock by investors who view the mandatory convertible preferred stock as a more attractive means of equity participation in bd than owning shares of bd common stock ; and 2022 hedging or arbitrage trading activity that may develop involving the mandatory convertible preferred stock and bd common stock .', 'item 1b .', 'unresolved staff comments .', 'item 2 .', 'properties .', 'bd 2019s executive offices are located in franklin lakes , new jersey .', 'as of october 31 , 2018 , bd owned or leased 380 facilities throughout the world , comprising approximately 24658363 square feet of manufacturing , warehousing , administrative and research facilities .', 'the u.s .', 'facilities , including those in puerto rico , comprise approximately 8619099 square feet of owned and 4407539 square feet of leased space .', 'the international facilities comprise approximately 8484223 square feet of owned and 3147502 square feet of leased space .', 'sales offices and distribution centers included in the total square footage are also located throughout the world .', 'operations in each of bd 2019s business segments are conducted at both u.s .', 'and international locations .', 'particularly in the international marketplace , facilities often serve more than one business segment and are used for multiple purposes , such as administrative/sales , manufacturing and/or warehousing/distribution .', 'bd generally seeks to own its manufacturing facilities , although some are leased .', 'the following table summarizes property information by business segment. .']
Data Table:
sites, corporate, bd life sciences, bd medical, bd interventional, mixed ( a ), total
leased, 20, 21, 81, 86, 83, 291
owned, 6, 23, 31, 23, 6, 89
total, 26, 44, 112, 109, 89, 380
square feet, 2281986, 3958668, 10946766, 4651903, 2819040, 24658363
Additional Information: ['( a ) facilities used by more than one business segment .', 'bd believes that its facilities are of good construction and in good physical condition , are suitable and adequate for the operations conducted at those facilities , and are , with minor exceptions , fully utilized and operating at normal capacity .', 'the u.s .', 'facilities are located in alabama , arizona , california , connecticut , florida , georgia , illinois , indiana , maryland , massachusetts , michigan , minnesota , missouri , montana , nebraska , new jersey , new york , north carolina , ohio , oklahoma , oregon , pennsylvania , rhode island , south carolina , tennessee , texas , utah , virginia , washington , d.c. , washington , wisconsin and puerto rico. .'] | 64890.42895 | BDX/2018/page_26.pdf-1 | ['agreements containing cross-default provisions .', 'under these circumstances , we might not have sufficient funds or other resources to satisfy all of our obligations .', 'the mandatory convertible preferred stock underlying the depositary shares issued in connection with the financing of the bard transaction may adversely affect the market price of bd common stock .', 'the market price of bd common stock is likely to be influenced by the mandatory convertible preferred stock underlying the depositary shares issued in connection with the financing for the bard transaction .', 'the market price of bd common stock could become more volatile and could be depressed by : 2022 investors 2019 anticipation of the potential resale in the market of a substantial number of additional shares of bd common stock received upon conversion of the mandatory convertible preferred stock ; 2022 possible sales of bd common stock by investors who view the mandatory convertible preferred stock as a more attractive means of equity participation in bd than owning shares of bd common stock ; and 2022 hedging or arbitrage trading activity that may develop involving the mandatory convertible preferred stock and bd common stock .', 'item 1b .', 'unresolved staff comments .', 'item 2 .', 'properties .', 'bd 2019s executive offices are located in franklin lakes , new jersey .', 'as of october 31 , 2018 , bd owned or leased 380 facilities throughout the world , comprising approximately 24658363 square feet of manufacturing , warehousing , administrative and research facilities .', 'the u.s .', 'facilities , including those in puerto rico , comprise approximately 8619099 square feet of owned and 4407539 square feet of leased space .', 'the international facilities comprise approximately 8484223 square feet of owned and 3147502 square feet of leased space .', 'sales offices and distribution centers included in the total square footage are also located throughout the world .', 'operations in each of bd 2019s business segments are conducted at both u.s .', 'and international locations .', 'particularly in the international marketplace , facilities often serve more than one business segment and are used for multiple purposes , such as administrative/sales , manufacturing and/or warehousing/distribution .', 'bd generally seeks to own its manufacturing facilities , although some are leased .', 'the following table summarizes property information by business segment. .'] | ['( a ) facilities used by more than one business segment .', 'bd believes that its facilities are of good construction and in good physical condition , are suitable and adequate for the operations conducted at those facilities , and are , with minor exceptions , fully utilized and operating at normal capacity .', 'the u.s .', 'facilities are located in alabama , arizona , california , connecticut , florida , georgia , illinois , indiana , maryland , massachusetts , michigan , minnesota , missouri , montana , nebraska , new jersey , new york , north carolina , ohio , oklahoma , oregon , pennsylvania , rhode island , south carolina , tennessee , texas , utah , virginia , washington , d.c. , washington , wisconsin and puerto rico. .'] | sites, corporate, bd life sciences, bd medical, bd interventional, mixed ( a ), total
leased, 20, 21, 81, 86, 83, 291
owned, 6, 23, 31, 23, 6, 89
total, 26, 44, 112, 109, 89, 380
square feet, 2281986, 3958668, 10946766, 4651903, 2819040, 24658363 | divide(24658363, 380) | 64890.42895 |
as of december 312012 what was the percent of the scheduled maturities of long term debt as part of the long term debt | Background: ['borrowings under the credit facility bear interest based on the daily balance outstanding at libor ( with no rate floor ) plus an applicable margin ( varying from 1.25% ( 1.25 % ) to 1.75% ( 1.75 % ) ) or , in certain cases a base rate ( based on a certain lending institution 2019s prime rate or as otherwise specified in the credit agreement , with no rate floor ) plus an applicable margin ( varying from 0.25% ( 0.25 % ) to 0.75% ( 0.75 % ) ) .', 'the credit facility also carries a commitment fee equal to the unused borrowings multiplied by an applicable margin ( varying from 0.25% ( 0.25 % ) to 0.35% ( 0.35 % ) ) .', 'the applicable margins are calculated quarterly and vary based on the company 2019s leverage ratio as set forth in the credit agreement .', 'upon entering into the credit facility in march 2011 , the company terminated its prior $ 200.0 million revolving credit facility .', 'the prior revolving credit facility was collateralized by substantially all of the company 2019s assets , other than trademarks , and included covenants , conditions and other terms similar to the company 2019s new credit facility .', 'in may 2011 , the company borrowed $ 25.0 million under the term loan facility to finance a portion of the acquisition of the company 2019s corporate headquarters .', 'the interest rate on the term loan was 1.5% ( 1.5 % ) during the year ended december 31 , 2011 .', 'the maturity date of the term loan is march 2015 , which is the end of the credit facility term .', 'the company expects to refinance the term loan in early 2013 with the loan assumed in the acquisition of the company 2019s corporate headquarters .', 'during the three months ended september 30 , 2011 , the company borrowed $ 30.0 million under the revolving credit facility to fund seasonal working capital requirements and repaid it during the three months ended december 31 , 2011 .', 'the interest rate under the revolving credit facility was 1.5% ( 1.5 % ) during the year ended december 31 , 2011 , and no balance was outstanding as of december 31 , 2011 .', 'no balances were outstanding under the prior revolving credit facility during the year ended december 31 , 2010 .', 'long term debt the company has long term debt agreements with various lenders to finance the acquisition or lease of qualifying capital investments .', 'loans under these agreements are collateralized by a first lien on the related assets acquired .', 'as these agreements are not committed facilities , each advance is subject to approval by the lenders .', 'additionally , these agreements include a cross default provision whereby an event of default under other debt obligations , including the company 2019s credit facility , will be considered an event of default under these agreements .', 'these agreements require a prepayment fee if the company pays outstanding amounts ahead of the scheduled terms .', 'the terms of the credit facility limit the total amount of additional financing under these agreements to $ 40.0 million , of which $ 21.5 million was available for additional financing as of december 31 , 2011 .', 'at december 31 , 2011 and 2010 , the outstanding principal balance under these agreements was $ 14.5 million and $ 15.9 million , respectively .', 'currently , advances under these agreements bear interest rates which are fixed at the time of each advance .', 'the weighted average interest rates on outstanding borrowings were 3.5% ( 3.5 % ) , 5.3% ( 5.3 % ) and 5.9% ( 5.9 % ) for the years ended december 31 , 2011 , 2010 and 2009 , respectively .', 'the following are the scheduled maturities of long term debt as of december 31 , 2011 : ( in thousands ) .']
Tabular Data:
----------------------------------------
2012 | $ 6882
----------|----------
2013 ( 1 ) | 65919
2014 | 2972
2015 | 1951
2016 | 2014
total scheduled maturities of long term debt | 77724
less current maturities of long term debt | -6882 ( 6882 )
long term debt obligations | $ 70842
----------------------------------------
Post-table: ['( 1 ) includes the repayment of $ 25.0 million borrowed under the term loan facility , which is due in march 2015 , but is planned to be refinanced in early 2013 with the loan assumed in the acquisition of the company 2019s corporate headquarters. .'] | 0.09715 | UA/2011/page_69.pdf-2 | ['borrowings under the credit facility bear interest based on the daily balance outstanding at libor ( with no rate floor ) plus an applicable margin ( varying from 1.25% ( 1.25 % ) to 1.75% ( 1.75 % ) ) or , in certain cases a base rate ( based on a certain lending institution 2019s prime rate or as otherwise specified in the credit agreement , with no rate floor ) plus an applicable margin ( varying from 0.25% ( 0.25 % ) to 0.75% ( 0.75 % ) ) .', 'the credit facility also carries a commitment fee equal to the unused borrowings multiplied by an applicable margin ( varying from 0.25% ( 0.25 % ) to 0.35% ( 0.35 % ) ) .', 'the applicable margins are calculated quarterly and vary based on the company 2019s leverage ratio as set forth in the credit agreement .', 'upon entering into the credit facility in march 2011 , the company terminated its prior $ 200.0 million revolving credit facility .', 'the prior revolving credit facility was collateralized by substantially all of the company 2019s assets , other than trademarks , and included covenants , conditions and other terms similar to the company 2019s new credit facility .', 'in may 2011 , the company borrowed $ 25.0 million under the term loan facility to finance a portion of the acquisition of the company 2019s corporate headquarters .', 'the interest rate on the term loan was 1.5% ( 1.5 % ) during the year ended december 31 , 2011 .', 'the maturity date of the term loan is march 2015 , which is the end of the credit facility term .', 'the company expects to refinance the term loan in early 2013 with the loan assumed in the acquisition of the company 2019s corporate headquarters .', 'during the three months ended september 30 , 2011 , the company borrowed $ 30.0 million under the revolving credit facility to fund seasonal working capital requirements and repaid it during the three months ended december 31 , 2011 .', 'the interest rate under the revolving credit facility was 1.5% ( 1.5 % ) during the year ended december 31 , 2011 , and no balance was outstanding as of december 31 , 2011 .', 'no balances were outstanding under the prior revolving credit facility during the year ended december 31 , 2010 .', 'long term debt the company has long term debt agreements with various lenders to finance the acquisition or lease of qualifying capital investments .', 'loans under these agreements are collateralized by a first lien on the related assets acquired .', 'as these agreements are not committed facilities , each advance is subject to approval by the lenders .', 'additionally , these agreements include a cross default provision whereby an event of default under other debt obligations , including the company 2019s credit facility , will be considered an event of default under these agreements .', 'these agreements require a prepayment fee if the company pays outstanding amounts ahead of the scheduled terms .', 'the terms of the credit facility limit the total amount of additional financing under these agreements to $ 40.0 million , of which $ 21.5 million was available for additional financing as of december 31 , 2011 .', 'at december 31 , 2011 and 2010 , the outstanding principal balance under these agreements was $ 14.5 million and $ 15.9 million , respectively .', 'currently , advances under these agreements bear interest rates which are fixed at the time of each advance .', 'the weighted average interest rates on outstanding borrowings were 3.5% ( 3.5 % ) , 5.3% ( 5.3 % ) and 5.9% ( 5.9 % ) for the years ended december 31 , 2011 , 2010 and 2009 , respectively .', 'the following are the scheduled maturities of long term debt as of december 31 , 2011 : ( in thousands ) .'] | ['( 1 ) includes the repayment of $ 25.0 million borrowed under the term loan facility , which is due in march 2015 , but is planned to be refinanced in early 2013 with the loan assumed in the acquisition of the company 2019s corporate headquarters. .'] | ----------------------------------------
2012 | $ 6882
----------|----------
2013 ( 1 ) | 65919
2014 | 2972
2015 | 1951
2016 | 2014
total scheduled maturities of long term debt | 77724
less current maturities of long term debt | -6882 ( 6882 )
long term debt obligations | $ 70842
---------------------------------------- | divide(6882, 70842) | 0.09715 |
what was the percentage change in collateral posted from 2012 to 2013? | Pre-text: ['notes to consolidated financial statements derivatives with credit-related contingent features certain of the firm 2019s derivatives have been transacted under bilateral agreements with counterparties who may require the firm to post collateral or terminate the transactions based on changes in the firm 2019s credit ratings .', 'the firm assesses the impact of these bilateral agreements by determining the collateral or termination payments that would occur assuming a downgrade by all rating agencies .', 'a downgrade by any one rating agency , depending on the agency 2019s relative ratings of the firm at the time of the downgrade , may have an impact which is comparable to the impact of a downgrade by all rating agencies .', 'the table below presents the aggregate fair value of net derivative liabilities under such agreements ( excluding application of collateral posted to reduce these liabilities ) , the related aggregate fair value of the assets posted as collateral , and the additional collateral or termination payments that could have been called at the reporting date by counterparties in the event of a one-notch and two-notch downgrade in the firm 2019s credit ratings. .']
##
Tabular Data:
in millions | as of december 2013 | as of december 2012
----------|----------|----------
net derivative liabilities under bilateral agreements | $ 22176 | $ 27885
collateral posted | 18178 | 24296
additional collateral or termination payments for a one-notch downgrade | 911 | 1534
additional collateral or termination payments for a two-notch downgrade | 2989 | 2500
##
Additional Information: ['additional collateral or termination payments for a one-notch downgrade 911 1534 additional collateral or termination payments for a two-notch downgrade 2989 2500 credit derivatives the firm enters into a broad array of credit derivatives in locations around the world to facilitate client transactions and to manage the credit risk associated with market- making and investing and lending activities .', 'credit derivatives are actively managed based on the firm 2019s net risk position .', 'credit derivatives are individually negotiated contracts and can have various settlement and payment conventions .', 'credit events include failure to pay , bankruptcy , acceleration of indebtedness , restructuring , repudiation and dissolution of the reference entity .', 'credit default swaps .', 'single-name credit default swaps protect the buyer against the loss of principal on one or more bonds , loans or mortgages ( reference obligations ) in the event the issuer ( reference entity ) of the reference obligations suffers a credit event .', 'the buyer of protection pays an initial or periodic premium to the seller and receives protection for the period of the contract .', 'if there is no credit event , as defined in the contract , the seller of protection makes no payments to the buyer of protection .', 'however , if a credit event occurs , the seller of protection is required to make a payment to the buyer of protection , which is calculated in accordance with the terms of the contract .', 'credit indices , baskets and tranches .', 'credit derivatives may reference a basket of single-name credit default swaps or a broad-based index .', 'if a credit event occurs in one of the underlying reference obligations , the protection seller pays the protection buyer .', 'the payment is typically a pro-rata portion of the transaction 2019s total notional amount based on the underlying defaulted reference obligation .', 'in certain transactions , the credit risk of a basket or index is separated into various portions ( tranches ) , each having different levels of subordination .', 'the most junior tranches cover initial defaults and once losses exceed the notional amount of these junior tranches , any excess loss is covered by the next most senior tranche in the capital structure .', 'total return swaps .', 'a total return swap transfers the risks relating to economic performance of a reference obligation from the protection buyer to the protection seller .', 'typically , the protection buyer receives from the protection seller a floating rate of interest and protection against any reduction in fair value of the reference obligation , and in return the protection seller receives the cash flows associated with the reference obligation , plus any increase in the fair value of the reference obligation .', 'credit options .', 'in a credit option , the option writer assumes the obligation to purchase or sell a reference obligation at a specified price or credit spread .', 'the option purchaser buys the right , but does not assume the obligation , to sell the reference obligation to , or purchase it from , the option writer .', 'the payments on credit options depend either on a particular credit spread or the price of the reference obligation .', 'goldman sachs 2013 annual report 147 .'] | -0.25181 | GS/2013/page_149.pdf-2 | ['notes to consolidated financial statements derivatives with credit-related contingent features certain of the firm 2019s derivatives have been transacted under bilateral agreements with counterparties who may require the firm to post collateral or terminate the transactions based on changes in the firm 2019s credit ratings .', 'the firm assesses the impact of these bilateral agreements by determining the collateral or termination payments that would occur assuming a downgrade by all rating agencies .', 'a downgrade by any one rating agency , depending on the agency 2019s relative ratings of the firm at the time of the downgrade , may have an impact which is comparable to the impact of a downgrade by all rating agencies .', 'the table below presents the aggregate fair value of net derivative liabilities under such agreements ( excluding application of collateral posted to reduce these liabilities ) , the related aggregate fair value of the assets posted as collateral , and the additional collateral or termination payments that could have been called at the reporting date by counterparties in the event of a one-notch and two-notch downgrade in the firm 2019s credit ratings. .'] | ['additional collateral or termination payments for a one-notch downgrade 911 1534 additional collateral or termination payments for a two-notch downgrade 2989 2500 credit derivatives the firm enters into a broad array of credit derivatives in locations around the world to facilitate client transactions and to manage the credit risk associated with market- making and investing and lending activities .', 'credit derivatives are actively managed based on the firm 2019s net risk position .', 'credit derivatives are individually negotiated contracts and can have various settlement and payment conventions .', 'credit events include failure to pay , bankruptcy , acceleration of indebtedness , restructuring , repudiation and dissolution of the reference entity .', 'credit default swaps .', 'single-name credit default swaps protect the buyer against the loss of principal on one or more bonds , loans or mortgages ( reference obligations ) in the event the issuer ( reference entity ) of the reference obligations suffers a credit event .', 'the buyer of protection pays an initial or periodic premium to the seller and receives protection for the period of the contract .', 'if there is no credit event , as defined in the contract , the seller of protection makes no payments to the buyer of protection .', 'however , if a credit event occurs , the seller of protection is required to make a payment to the buyer of protection , which is calculated in accordance with the terms of the contract .', 'credit indices , baskets and tranches .', 'credit derivatives may reference a basket of single-name credit default swaps or a broad-based index .', 'if a credit event occurs in one of the underlying reference obligations , the protection seller pays the protection buyer .', 'the payment is typically a pro-rata portion of the transaction 2019s total notional amount based on the underlying defaulted reference obligation .', 'in certain transactions , the credit risk of a basket or index is separated into various portions ( tranches ) , each having different levels of subordination .', 'the most junior tranches cover initial defaults and once losses exceed the notional amount of these junior tranches , any excess loss is covered by the next most senior tranche in the capital structure .', 'total return swaps .', 'a total return swap transfers the risks relating to economic performance of a reference obligation from the protection buyer to the protection seller .', 'typically , the protection buyer receives from the protection seller a floating rate of interest and protection against any reduction in fair value of the reference obligation , and in return the protection seller receives the cash flows associated with the reference obligation , plus any increase in the fair value of the reference obligation .', 'credit options .', 'in a credit option , the option writer assumes the obligation to purchase or sell a reference obligation at a specified price or credit spread .', 'the option purchaser buys the right , but does not assume the obligation , to sell the reference obligation to , or purchase it from , the option writer .', 'the payments on credit options depend either on a particular credit spread or the price of the reference obligation .', 'goldman sachs 2013 annual report 147 .'] | in millions | as of december 2013 | as of december 2012
----------|----------|----------
net derivative liabilities under bilateral agreements | $ 22176 | $ 27885
collateral posted | 18178 | 24296
additional collateral or termination payments for a one-notch downgrade | 911 | 1534
additional collateral or termination payments for a two-notch downgrade | 2989 | 2500 | subtract(18178, 24296), divide(#0, 24296) | -0.25181 |
what was the percentage change in share-based compensation expense between 2012 and 2013? | Context: ['zimmer holdings , inc .', '2013 form 10-k annual report notes to consolidated financial statements ( continued ) unrealized gains and losses on cash flow hedges , unrealized gains and losses on available-for-sale securities and amortization of prior service costs and unrecognized gains and losses in actuarial assumptions .', 'treasury stock 2013 we account for repurchases of common stock under the cost method and present treasury stock as a reduction of stockholders 2019 equity .', 'we reissue common stock held in treasury only for limited purposes .', 'noncontrolling interest 2013 in 2011 , we made an investment in a company in which we acquired a controlling financial interest , but not 100 percent of the equity .', 'in 2013 , we purchased additional shares of the company from the minority shareholders .', 'further information related to the noncontrolling interests of that investment has not been provided as it is not significant to our consolidated financial statements .', 'accounting pronouncements 2013 effective january 1 , 2013 , we adopted the fasb 2019s accounting standard updates ( asus ) requiring reporting of amounts reclassified out of accumulated other comprehensive income ( oci ) and balance sheet offsetting between derivative assets and liabilities .', 'these asus only change financial statement disclosure requirements and therefore do not impact our financial position , results of operations or cash flows .', 'see note 12 for disclosures relating to oci .', 'see note 13 for disclosures relating to balance sheet offsetting .', 'there are no other recently issued accounting pronouncements that we have not yet adopted that are expected to have a material effect on our financial position , results of operations or cash flows .', '3 .', 'share-based compensation our share-based payments primarily consist of stock options , restricted stock , restricted stock units ( rsus ) , and an employee stock purchase plan .', 'share-based compensation expense is as follows ( in millions ) : .']
------
Table:
Row 1: for the years ended december 31,, 2013, 2012, 2011
Row 2: stock options, $ 24.7, $ 32.4, $ 41.7
Row 3: rsus and other, 23.8, 22.6, 18.8
Row 4: total expense pre-tax, 48.5, 55.0, 60.5
Row 5: tax benefit related to awards, -15.6 ( 15.6 ), -16.6 ( 16.6 ), -17.8 ( 17.8 )
Row 6: total expense net of tax, $ 32.9, $ 38.4, $ 42.7
------
Additional Information: ['share-based compensation cost capitalized as part of inventory for the years ended december 31 , 2013 , 2012 and 2011 was $ 4.1 million , $ 6.1 million , and $ 8.8 million , respectively .', 'as of december 31 , 2013 and 2012 , approximately $ 2.4 million and $ 3.3 million of capitalized costs remained in finished goods inventory .', 'stock options we had two equity compensation plans in effect at december 31 , 2013 : the 2009 stock incentive plan ( 2009 plan ) and the stock plan for non-employee directors .', 'the 2009 plan succeeded the 2006 stock incentive plan ( 2006 plan ) and the teamshare stock option plan ( teamshare plan ) .', 'no further awards have been granted under the 2006 plan or under the teamshare plan since may 2009 , and shares remaining available for grant under those plans have been merged into the 2009 plan .', 'vested and unvested stock options and unvested restricted stock and rsus previously granted under the 2006 plan , the teamshare plan and another prior plan , the 2001 stock incentive plan , remained outstanding as of december 31 , 2013 .', 'we have reserved the maximum number of shares of common stock available for award under the terms of each of these plans .', 'we have registered 57.9 million shares of common stock under these plans .', 'the 2009 plan provides for the grant of nonqualified stock options and incentive stock options , long-term performance awards in the form of performance shares or units , restricted stock , rsus and stock appreciation rights .', 'the compensation and management development committee of the board of directors determines the grant date for annual grants under our equity compensation plans .', 'the date for annual grants under the 2009 plan to our executive officers is expected to occur in the first quarter of each year following the earnings announcements for the previous quarter and full year .', 'the stock plan for non-employee directors provides for awards of stock options , restricted stock and rsus to non-employee directors .', 'it has been our practice to issue shares of common stock upon exercise of stock options from previously unissued shares , except in limited circumstances where they are issued from treasury stock .', 'the total number of awards which may be granted in a given year and/or over the life of the plan under each of our equity compensation plans is limited .', 'at december 31 , 2013 , an aggregate of 10.4 million shares were available for future grants and awards under these plans .', 'stock options granted to date under our plans generally vest over four years and generally have a maximum contractual life of 10 years .', 'as established under our equity compensation plans , vesting may accelerate upon retirement after the first anniversary date of the award if certain criteria are met .', 'we recognize expense related to stock options on a straight-line basis over the requisite service period , less awards expected to be forfeited using estimated forfeiture rates .', 'due to the accelerated retirement provisions , the requisite service period of our stock options range from one to four years .', 'stock options are granted with an exercise price equal to the market price of our common stock on the date of grant , except in limited circumstances where local law may dictate otherwise. .'] | -0.14323 | ZBH/2013/page_49.pdf-2 | ['zimmer holdings , inc .', '2013 form 10-k annual report notes to consolidated financial statements ( continued ) unrealized gains and losses on cash flow hedges , unrealized gains and losses on available-for-sale securities and amortization of prior service costs and unrecognized gains and losses in actuarial assumptions .', 'treasury stock 2013 we account for repurchases of common stock under the cost method and present treasury stock as a reduction of stockholders 2019 equity .', 'we reissue common stock held in treasury only for limited purposes .', 'noncontrolling interest 2013 in 2011 , we made an investment in a company in which we acquired a controlling financial interest , but not 100 percent of the equity .', 'in 2013 , we purchased additional shares of the company from the minority shareholders .', 'further information related to the noncontrolling interests of that investment has not been provided as it is not significant to our consolidated financial statements .', 'accounting pronouncements 2013 effective january 1 , 2013 , we adopted the fasb 2019s accounting standard updates ( asus ) requiring reporting of amounts reclassified out of accumulated other comprehensive income ( oci ) and balance sheet offsetting between derivative assets and liabilities .', 'these asus only change financial statement disclosure requirements and therefore do not impact our financial position , results of operations or cash flows .', 'see note 12 for disclosures relating to oci .', 'see note 13 for disclosures relating to balance sheet offsetting .', 'there are no other recently issued accounting pronouncements that we have not yet adopted that are expected to have a material effect on our financial position , results of operations or cash flows .', '3 .', 'share-based compensation our share-based payments primarily consist of stock options , restricted stock , restricted stock units ( rsus ) , and an employee stock purchase plan .', 'share-based compensation expense is as follows ( in millions ) : .'] | ['share-based compensation cost capitalized as part of inventory for the years ended december 31 , 2013 , 2012 and 2011 was $ 4.1 million , $ 6.1 million , and $ 8.8 million , respectively .', 'as of december 31 , 2013 and 2012 , approximately $ 2.4 million and $ 3.3 million of capitalized costs remained in finished goods inventory .', 'stock options we had two equity compensation plans in effect at december 31 , 2013 : the 2009 stock incentive plan ( 2009 plan ) and the stock plan for non-employee directors .', 'the 2009 plan succeeded the 2006 stock incentive plan ( 2006 plan ) and the teamshare stock option plan ( teamshare plan ) .', 'no further awards have been granted under the 2006 plan or under the teamshare plan since may 2009 , and shares remaining available for grant under those plans have been merged into the 2009 plan .', 'vested and unvested stock options and unvested restricted stock and rsus previously granted under the 2006 plan , the teamshare plan and another prior plan , the 2001 stock incentive plan , remained outstanding as of december 31 , 2013 .', 'we have reserved the maximum number of shares of common stock available for award under the terms of each of these plans .', 'we have registered 57.9 million shares of common stock under these plans .', 'the 2009 plan provides for the grant of nonqualified stock options and incentive stock options , long-term performance awards in the form of performance shares or units , restricted stock , rsus and stock appreciation rights .', 'the compensation and management development committee of the board of directors determines the grant date for annual grants under our equity compensation plans .', 'the date for annual grants under the 2009 plan to our executive officers is expected to occur in the first quarter of each year following the earnings announcements for the previous quarter and full year .', 'the stock plan for non-employee directors provides for awards of stock options , restricted stock and rsus to non-employee directors .', 'it has been our practice to issue shares of common stock upon exercise of stock options from previously unissued shares , except in limited circumstances where they are issued from treasury stock .', 'the total number of awards which may be granted in a given year and/or over the life of the plan under each of our equity compensation plans is limited .', 'at december 31 , 2013 , an aggregate of 10.4 million shares were available for future grants and awards under these plans .', 'stock options granted to date under our plans generally vest over four years and generally have a maximum contractual life of 10 years .', 'as established under our equity compensation plans , vesting may accelerate upon retirement after the first anniversary date of the award if certain criteria are met .', 'we recognize expense related to stock options on a straight-line basis over the requisite service period , less awards expected to be forfeited using estimated forfeiture rates .', 'due to the accelerated retirement provisions , the requisite service period of our stock options range from one to four years .', 'stock options are granted with an exercise price equal to the market price of our common stock on the date of grant , except in limited circumstances where local law may dictate otherwise. .'] | Row 1: for the years ended december 31,, 2013, 2012, 2011
Row 2: stock options, $ 24.7, $ 32.4, $ 41.7
Row 3: rsus and other, 23.8, 22.6, 18.8
Row 4: total expense pre-tax, 48.5, 55.0, 60.5
Row 5: tax benefit related to awards, -15.6 ( 15.6 ), -16.6 ( 16.6 ), -17.8 ( 17.8 )
Row 6: total expense net of tax, $ 32.9, $ 38.4, $ 42.7 | subtract(32.9, 38.4), divide(#0, 38.4) | -0.14323 |
what percent of ending reserves were due to extensions discoveries and additions? | 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 .']
Tabular Data:
----------------------------------------
( 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 .'] | 0.01546 | MRO/2008/page_41.pdf-3 | ['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
---------------------------------------- | divide(const_6, 388) | 0.01546 |
for 2010 , what was the net deferred tax liability? | Context: ['anticipated or possible short-term cash needs , prevailing interest rates , our investment policy and alternative investment choices .', 'a majority of our cash and cash equivalents balance is invested in money market mutual funds that invest only in u.s .', 'treasury securities or u.s .', 'government agency securities .', 'our exposure to risk is minimal given the nature of the investments .', 'our practice is to have our pension plan 100% ( 100 % ) funded at each year end on a projected benefit obligation basis , while also satisfying any minimum required contribution and obtaining the maximum tax deduction .', 'based on our actuarial projections , we estimate that a $ 14.1 million contribution in 2011 will allow us to meet our funding goal .', 'however , the amount of the actual contribution is contingent on the actual rate of return on our plan assets during 2011 and the december 31 , 2011 discount rate .', 'net current deferred tax assets of $ 18.3 million and $ 23.8 million are included in other current assets at december 31 , 2010 and 2009 , respectively .', 'total net current deferred tax assets include unrealized losses , stock- based compensation and accrued expenses .', 'net long-term deferred tax liabilities were $ 7.8 billion and $ 7.6 billion at december 31 , 2010 and 2009 , respectively .', 'net deferred tax liabilities are principally the result of purchase accounting for intangible assets in our various mergers including cbot holdings and nymex holdings .', 'we have a long-term deferred tax asset of $ 145.7 million included within our domestic long-term deferred tax liability .', 'this deferred tax asset is for an unrealized capital loss incurred in brazil related to our investment in bm&fbovespa .', 'as of december 31 , 2010 , we do not believe that we currently meet the more-likely-than-not threshold that would allow us to fully realize the value of the unrealized capital loss .', 'as a result , a partial valuation allowance of $ 64.4 million has been provided for the amount of the unrealized capital loss that exceeds potential capital gains that could be used to offset the capital loss in future periods .', 'we also have a long-term deferred tax asset related to brazilian taxes of $ 125.3 million for an unrealized capital loss incurred in brazil related to our investment in bm&fbovespa .', 'a full valuation allowance of $ 125.3 million has been provided because we do not believe that we currently meet the more-likely-than-not threshold that would allow us to realize the value of the unrealized capital loss in brazil in the future .', 'valuation allowances of $ 49.4 million have also been provided for additional unrealized capital losses on various other investments .', 'net long-term deferred tax assets also include a $ 19.3 million deferred tax asset for foreign net operating losses related to swapstream .', 'our assessment at december 31 , 2010 was that we did not currently meet the more-likely- than-not threshold that would allow us to realize the value of acquired and accumulated foreign net operating losses in the future .', 'as a result , the $ 19.3 million deferred tax assets arising from these net operating losses have been fully reserved .', 'each clearing firm is required to deposit and maintain specified performance bond collateral .', 'performance bond requirements are determined by parameters established by the risk management department of the clearing house and may fluctuate over time .', 'we accept a variety of collateral to satisfy performance bond requirements .', 'cash performance bonds and guaranty fund contributions are included in our consolidated balance sheets .', 'clearing firm deposits , other than those retained in the form of cash , are not included in our consolidated balance sheets .', 'the balances in cash performance bonds and guaranty fund contributions may fluctuate significantly over time .', 'cash performance bonds and guaranty fund contributions consisted of the following at december 31: .']
##
Table:
****************************************
Row 1: ( in millions ), 2010, 2009
Row 2: cash performance bonds, $ 3717.0, $ 5834.6
Row 3: cash guaranty fund contributions, 231.8, 102.6
Row 4: cross-margin arrangements, 79.7, 10.6
Row 5: performance collateral for delivery, 10.0, 34.1
Row 6: total, $ 4038.5, $ 5981.9
****************************************
##
Post-table: ['.'] | 7781700000.0 | CME/2010/page_71.pdf-3 | ['anticipated or possible short-term cash needs , prevailing interest rates , our investment policy and alternative investment choices .', 'a majority of our cash and cash equivalents balance is invested in money market mutual funds that invest only in u.s .', 'treasury securities or u.s .', 'government agency securities .', 'our exposure to risk is minimal given the nature of the investments .', 'our practice is to have our pension plan 100% ( 100 % ) funded at each year end on a projected benefit obligation basis , while also satisfying any minimum required contribution and obtaining the maximum tax deduction .', 'based on our actuarial projections , we estimate that a $ 14.1 million contribution in 2011 will allow us to meet our funding goal .', 'however , the amount of the actual contribution is contingent on the actual rate of return on our plan assets during 2011 and the december 31 , 2011 discount rate .', 'net current deferred tax assets of $ 18.3 million and $ 23.8 million are included in other current assets at december 31 , 2010 and 2009 , respectively .', 'total net current deferred tax assets include unrealized losses , stock- based compensation and accrued expenses .', 'net long-term deferred tax liabilities were $ 7.8 billion and $ 7.6 billion at december 31 , 2010 and 2009 , respectively .', 'net deferred tax liabilities are principally the result of purchase accounting for intangible assets in our various mergers including cbot holdings and nymex holdings .', 'we have a long-term deferred tax asset of $ 145.7 million included within our domestic long-term deferred tax liability .', 'this deferred tax asset is for an unrealized capital loss incurred in brazil related to our investment in bm&fbovespa .', 'as of december 31 , 2010 , we do not believe that we currently meet the more-likely-than-not threshold that would allow us to fully realize the value of the unrealized capital loss .', 'as a result , a partial valuation allowance of $ 64.4 million has been provided for the amount of the unrealized capital loss that exceeds potential capital gains that could be used to offset the capital loss in future periods .', 'we also have a long-term deferred tax asset related to brazilian taxes of $ 125.3 million for an unrealized capital loss incurred in brazil related to our investment in bm&fbovespa .', 'a full valuation allowance of $ 125.3 million has been provided because we do not believe that we currently meet the more-likely-than-not threshold that would allow us to realize the value of the unrealized capital loss in brazil in the future .', 'valuation allowances of $ 49.4 million have also been provided for additional unrealized capital losses on various other investments .', 'net long-term deferred tax assets also include a $ 19.3 million deferred tax asset for foreign net operating losses related to swapstream .', 'our assessment at december 31 , 2010 was that we did not currently meet the more-likely- than-not threshold that would allow us to realize the value of acquired and accumulated foreign net operating losses in the future .', 'as a result , the $ 19.3 million deferred tax assets arising from these net operating losses have been fully reserved .', 'each clearing firm is required to deposit and maintain specified performance bond collateral .', 'performance bond requirements are determined by parameters established by the risk management department of the clearing house and may fluctuate over time .', 'we accept a variety of collateral to satisfy performance bond requirements .', 'cash performance bonds and guaranty fund contributions are included in our consolidated balance sheets .', 'clearing firm deposits , other than those retained in the form of cash , are not included in our consolidated balance sheets .', 'the balances in cash performance bonds and guaranty fund contributions may fluctuate significantly over time .', 'cash performance bonds and guaranty fund contributions consisted of the following at december 31: .'] | ['.'] | ****************************************
Row 1: ( in millions ), 2010, 2009
Row 2: cash performance bonds, $ 3717.0, $ 5834.6
Row 3: cash guaranty fund contributions, 231.8, 102.6
Row 4: cross-margin arrangements, 79.7, 10.6
Row 5: performance collateral for delivery, 10.0, 34.1
Row 6: total, $ 4038.5, $ 5981.9
**************************************** | multiply(18.3, const_1000000), multiply(7.8, const_1000000), multiply(#1, const_1000), subtract(#2, #0) | 7781700000.0 |
what was the change in advertising costs from 2002 to 2003? | Background: ['illumina , inc .', 'notes to consolidated financial statements 2014 ( continued ) advertising costs the company expenses advertising costs as incurred .', 'advertising costs were approximately $ 440000 for 2003 , $ 267000 for 2002 and $ 57000 for 2001 .', 'income taxes a deferred income tax asset or liability is computed for the expected future impact of differences between the financial reporting and tax bases of assets and liabilities , as well as the expected future tax benefit to be derived from tax loss and credit carryforwards .', 'deferred income tax expense is generally the net change during the year in the deferred income tax asset or liability .', 'valuation allowances are established when realizability of deferred tax assets is uncertain .', 'the effect of tax rate changes is reflected in tax expense during the period in which such changes are enacted .', 'foreign currency translation the functional currencies of the company 2019s wholly owned subsidiaries are their respective local currencies .', 'accordingly , all balance sheet accounts of these operations are translated to u.s .', 'dollars using the exchange rates in effect at the balance sheet date , and revenues and expenses are translated using the average exchange rates in effect during the period .', 'the gains and losses from foreign currency translation of these subsidiaries 2019 financial statements are recorded directly as a separate component of stockholders 2019 equity under the caption 2018 2018accumulated other comprehensive income . 2019 2019 stock-based compensation at december 28 , 2003 , the company has three stock-based employee and non-employee director compensation plans , which are described more fully in note 5 .', 'as permitted by sfas no .', '123 , accounting for stock-based compensation , the company accounts for common stock options granted , and restricted stock sold , to employees , founders and directors using the intrinsic value method and , thus , recognizes no compensation expense for options granted , or restricted stock sold , with exercise prices equal to or greater than the fair value of the company 2019s common stock on the date of the grant .', 'the company has recorded deferred stock compensation related to certain stock options , and restricted stock , which were granted prior to the company 2019s initial public offering with exercise prices below estimated fair value ( see note 5 ) , which is being amortized on an accelerated amortiza- tion methodology in accordance with financial accounting standards board interpretation number ( 2018 2018fin 2019 2019 ) 28 .', 'pro forma information regarding net loss is required by sfas no .', '123 and has been determined as if the company had accounted for its employee stock options and employee stock purchases under the fair value method of that statement .', 'the fair value for these options was estimated at the dates of grant using the fair value option pricing model ( black scholes ) with the following weighted-average assumptions for 2003 , 2002 and 2001 : year ended year ended year ended december 28 , december 29 , december 30 , 2003 2002 2001 weighted average risk-free interest rate******* 3.03% ( 3.03 % ) 3.73% ( 3.73 % ) 4.65% ( 4.65 % ) expected dividend yield********************* 0% ( 0 % ) 0% ( 0 % ) 0% ( 0 % ) weighted average volatility ****************** 103% ( 103 % ) 104% ( 104 % ) 119% ( 119 % ) estimated life ( in years ) ********************** 5 5 5 .']
####
Tabular Data:
| year ended december 28 2003 | year ended december 29 2002 | year ended december 30 2001
----------|----------|----------|----------
weighted average risk-free interest rate | 3.03% ( 3.03 % ) | 3.73% ( 3.73 % ) | 4.65% ( 4.65 % )
expected dividend yield | 0% ( 0 % ) | 0% ( 0 % ) | 0% ( 0 % )
weighted average volatility | 103% ( 103 % ) | 104% ( 104 % ) | 119% ( 119 % )
estimated life ( in years ) | 5 | 5 | 5
weighted average fair value of options granted | $ 3.31 | $ 4.39 | $ 7.51
####
Follow-up: ['.'] | 173000.0 | ILMN/2003/page_79.pdf-2 | ['illumina , inc .', 'notes to consolidated financial statements 2014 ( continued ) advertising costs the company expenses advertising costs as incurred .', 'advertising costs were approximately $ 440000 for 2003 , $ 267000 for 2002 and $ 57000 for 2001 .', 'income taxes a deferred income tax asset or liability is computed for the expected future impact of differences between the financial reporting and tax bases of assets and liabilities , as well as the expected future tax benefit to be derived from tax loss and credit carryforwards .', 'deferred income tax expense is generally the net change during the year in the deferred income tax asset or liability .', 'valuation allowances are established when realizability of deferred tax assets is uncertain .', 'the effect of tax rate changes is reflected in tax expense during the period in which such changes are enacted .', 'foreign currency translation the functional currencies of the company 2019s wholly owned subsidiaries are their respective local currencies .', 'accordingly , all balance sheet accounts of these operations are translated to u.s .', 'dollars using the exchange rates in effect at the balance sheet date , and revenues and expenses are translated using the average exchange rates in effect during the period .', 'the gains and losses from foreign currency translation of these subsidiaries 2019 financial statements are recorded directly as a separate component of stockholders 2019 equity under the caption 2018 2018accumulated other comprehensive income . 2019 2019 stock-based compensation at december 28 , 2003 , the company has three stock-based employee and non-employee director compensation plans , which are described more fully in note 5 .', 'as permitted by sfas no .', '123 , accounting for stock-based compensation , the company accounts for common stock options granted , and restricted stock sold , to employees , founders and directors using the intrinsic value method and , thus , recognizes no compensation expense for options granted , or restricted stock sold , with exercise prices equal to or greater than the fair value of the company 2019s common stock on the date of the grant .', 'the company has recorded deferred stock compensation related to certain stock options , and restricted stock , which were granted prior to the company 2019s initial public offering with exercise prices below estimated fair value ( see note 5 ) , which is being amortized on an accelerated amortiza- tion methodology in accordance with financial accounting standards board interpretation number ( 2018 2018fin 2019 2019 ) 28 .', 'pro forma information regarding net loss is required by sfas no .', '123 and has been determined as if the company had accounted for its employee stock options and employee stock purchases under the fair value method of that statement .', 'the fair value for these options was estimated at the dates of grant using the fair value option pricing model ( black scholes ) with the following weighted-average assumptions for 2003 , 2002 and 2001 : year ended year ended year ended december 28 , december 29 , december 30 , 2003 2002 2001 weighted average risk-free interest rate******* 3.03% ( 3.03 % ) 3.73% ( 3.73 % ) 4.65% ( 4.65 % ) expected dividend yield********************* 0% ( 0 % ) 0% ( 0 % ) 0% ( 0 % ) weighted average volatility ****************** 103% ( 103 % ) 104% ( 104 % ) 119% ( 119 % ) estimated life ( in years ) ********************** 5 5 5 .'] | ['.'] | | year ended december 28 2003 | year ended december 29 2002 | year ended december 30 2001
----------|----------|----------|----------
weighted average risk-free interest rate | 3.03% ( 3.03 % ) | 3.73% ( 3.73 % ) | 4.65% ( 4.65 % )
expected dividend yield | 0% ( 0 % ) | 0% ( 0 % ) | 0% ( 0 % )
weighted average volatility | 103% ( 103 % ) | 104% ( 104 % ) | 119% ( 119 % )
estimated life ( in years ) | 5 | 5 | 5
weighted average fair value of options granted | $ 3.31 | $ 4.39 | $ 7.51 | subtract(440000, 267000) | 173000.0 |
what percentage of total contractual obligations due in 2009 are comprised of long-term debt obligations? | Background: ['contractual obligations the following table includes aggregated information about citigroup 2019s contractual obligations that impact its short- and long-term liquidity and capital needs .', 'the table includes information about payments due under specified contractual obligations , aggregated by type of contractual obligation .', 'it includes the maturity profile of the company 2019s consolidated long-term debt , operating leases and other long-term liabilities .', 'the company 2019s capital lease obligations are included in purchase obligations in the table .', 'citigroup 2019s contractual obligations include purchase obligations that are enforceable and legally binding for the company .', 'for the purposes of the table below , purchase obligations are included through the termination date of the respective agreements , even if the contract is renewable .', 'many of the purchase agreements for goods or services include clauses that would allow the company to cancel the agreement with specified notice ; however , that impact is not included in the table ( unless citigroup has already notified the counterparty of its intention to terminate the agreement ) .', 'other liabilities reflected on the company 2019s consolidated balance sheet include obligations for goods and services that have already been received , litigation settlements , uncertain tax positions , as well as other long-term liabilities that have been incurred and will ultimately be paid in cash .', 'excluded from the following table are obligations that are generally short term in nature , including deposit liabilities and securities sold under agreements to repurchase .', 'the table also excludes certain insurance and investment contracts subject to mortality and morbidity risks or without defined maturities , such that the timing of payments and withdrawals is uncertain .', 'the liabilities related to these insurance and investment contracts are included on the consolidated balance sheet as insurance policy and claims reserves , contractholder funds , and separate and variable accounts .', 'citigroup 2019s funding policy for pension plans is generally to fund to the minimum amounts required by the applicable laws and regulations .', 'at december 31 , 2008 , there were no minimum required contributions , and no contributions are currently planned for the u.s .', 'pension plans .', 'accordingly , no amounts have been included in the table below for future contributions to the u.s .', 'pension plans .', 'for the non-u.s .', 'plans , discretionary contributions in 2009 are anticipated to be approximately $ 167 million and this amount has been included in purchase obligations in the table below .', 'the estimated pension plan contributions are subject to change , since contribution decisions are affected by various factors , such as market performance , regulatory and legal requirements , and management 2019s ability to change funding policy .', 'for additional information regarding the company 2019s retirement benefit obligations , see note 9 to the consolidated financial statements on page 144. .']
Table:
========================================
Row 1: in millions of dollars at year end, contractual obligations by year 2009, contractual obligations by year 2010, contractual obligations by year 2011, contractual obligations by year 2012, contractual obligations by year 2013, contractual obligations by year thereafter
Row 2: long-term debt obligations ( 1 ), $ 88472, $ 41431, $ 42112, $ 27999, $ 25955, $ 133624
Row 3: operating lease obligations, 1470, 1328, 1134, 1010, 922, 3415
Row 4: purchase obligations, 2214, 750, 700, 444, 395, 1316
Row 5: other liabilities reflected on the company 2019s consolidated balance sheet ( 2 ), 38221, 792, 35, 36, 38, 3193
Row 6: total, $ 130377, $ 44301, $ 43981, $ 29489, $ 27310, $ 141548
========================================
Additional Information: ['( 1 ) for additional information about long-term debt and trust preferred securities , see note 20 to the consolidated financial statements on page 169 .', '( 2 ) relates primarily to accounts payable and accrued expenses included in other liabilities in the company 2019s consolidated balance sheet .', 'also included are various litigation settlements. .'] | 0.67859 | C/2008/page_111.pdf-3 | ['contractual obligations the following table includes aggregated information about citigroup 2019s contractual obligations that impact its short- and long-term liquidity and capital needs .', 'the table includes information about payments due under specified contractual obligations , aggregated by type of contractual obligation .', 'it includes the maturity profile of the company 2019s consolidated long-term debt , operating leases and other long-term liabilities .', 'the company 2019s capital lease obligations are included in purchase obligations in the table .', 'citigroup 2019s contractual obligations include purchase obligations that are enforceable and legally binding for the company .', 'for the purposes of the table below , purchase obligations are included through the termination date of the respective agreements , even if the contract is renewable .', 'many of the purchase agreements for goods or services include clauses that would allow the company to cancel the agreement with specified notice ; however , that impact is not included in the table ( unless citigroup has already notified the counterparty of its intention to terminate the agreement ) .', 'other liabilities reflected on the company 2019s consolidated balance sheet include obligations for goods and services that have already been received , litigation settlements , uncertain tax positions , as well as other long-term liabilities that have been incurred and will ultimately be paid in cash .', 'excluded from the following table are obligations that are generally short term in nature , including deposit liabilities and securities sold under agreements to repurchase .', 'the table also excludes certain insurance and investment contracts subject to mortality and morbidity risks or without defined maturities , such that the timing of payments and withdrawals is uncertain .', 'the liabilities related to these insurance and investment contracts are included on the consolidated balance sheet as insurance policy and claims reserves , contractholder funds , and separate and variable accounts .', 'citigroup 2019s funding policy for pension plans is generally to fund to the minimum amounts required by the applicable laws and regulations .', 'at december 31 , 2008 , there were no minimum required contributions , and no contributions are currently planned for the u.s .', 'pension plans .', 'accordingly , no amounts have been included in the table below for future contributions to the u.s .', 'pension plans .', 'for the non-u.s .', 'plans , discretionary contributions in 2009 are anticipated to be approximately $ 167 million and this amount has been included in purchase obligations in the table below .', 'the estimated pension plan contributions are subject to change , since contribution decisions are affected by various factors , such as market performance , regulatory and legal requirements , and management 2019s ability to change funding policy .', 'for additional information regarding the company 2019s retirement benefit obligations , see note 9 to the consolidated financial statements on page 144. .'] | ['( 1 ) for additional information about long-term debt and trust preferred securities , see note 20 to the consolidated financial statements on page 169 .', '( 2 ) relates primarily to accounts payable and accrued expenses included in other liabilities in the company 2019s consolidated balance sheet .', 'also included are various litigation settlements. .'] | ========================================
Row 1: in millions of dollars at year end, contractual obligations by year 2009, contractual obligations by year 2010, contractual obligations by year 2011, contractual obligations by year 2012, contractual obligations by year 2013, contractual obligations by year thereafter
Row 2: long-term debt obligations ( 1 ), $ 88472, $ 41431, $ 42112, $ 27999, $ 25955, $ 133624
Row 3: operating lease obligations, 1470, 1328, 1134, 1010, 922, 3415
Row 4: purchase obligations, 2214, 750, 700, 444, 395, 1316
Row 5: other liabilities reflected on the company 2019s consolidated balance sheet ( 2 ), 38221, 792, 35, 36, 38, 3193
Row 6: total, $ 130377, $ 44301, $ 43981, $ 29489, $ 27310, $ 141548
======================================== | divide(88472, 130377) | 0.67859 |
what was the percent of the change in the disposal costs from 2016 to 2017 | Pre-text: ['adjusted ebitda increased $ 574 million , or 5% ( 5 % ) , in 2017 primarily from : 2022 an increase in branded postpaid and prepaid service revenues primarily due to strong customer response to our un- carrier initiatives , the ongoing success of our promotional activities , and the continued strength of our metropcs brand ; 2022 higher wholesale revenues ; and 2022 higher other revenues ; partially offset by 2022 higher selling , general and administrative expenses ; 2022 lower gains on disposal of spectrum licenses of $ 600 million ; gains on disposal were $ 235 million for the year ended december 31 , 2017 , compared to $ 835 million in the same period in 2016 ; 2022 higher cost of services expense ; 2022 higher net losses on equipment ; and 2022 the negative impact from hurricanes of approximately $ 201 million , net of insurance recoveries .', 'adjusted ebitda increased $ 2.8 billion , or 36% ( 36 % ) , in 2016 primarily from : 2022 increased branded postpaid and prepaid service revenues primarily due to strong customer response to our un-carrier initiatives and the ongoing success of our promotional activities ; 2022 higher gains on disposal of spectrum licenses of $ 672 million ; gains on disposal were $ 835 million in 2016 compared to $ 163 million in 2015 ; 2022 lower losses on equipment ; and 2022 focused cost control and synergies realized from the metropcs business combination , primarily in cost of services ; partially offset by 2022 higher selling , general and administrative .', 'effective january 1 , 2017 , the imputed discount on eip receivables , which was previously recognized within interest income in our consolidated statements of comprehensive income , is recognized within other revenues in our consolidated statements of comprehensive income .', 'due to this presentation , the imputed discount on eip receivables is included in adjusted ebitda .', 'see note 1 - summary of significant accounting policies of notes to the consolidated financial statements included in part ii , item 8 of this form 10-k for further information .', 'we have applied this change retrospectively and presented the effect on the years ended december 31 , 2016 and 2015 , in the table below. .']
----
Data Table:
( in millions ), year ended december 31 2016 as filed, year ended december 31 2016 change in accounting principle, year ended december 31 2016 as adjusted, year ended december 31 2016 as filed, year ended december 31 2016 change in accounting principle, as adjusted
operating income, $ 3802, $ 248, $ 4050, $ 2065, $ 414, $ 2479
interest income, 261, -248 ( 248 ), 13, 420, -414 ( 414 ), 6
net income, 1460, 2014, 1460, 733, 2014, 733
net income as a percentage of service revenue, 5% ( 5 % ), 2014% ( 2014 % ), 5% ( 5 % ), 3% ( 3 % ), 2014% ( 2014 % ), 3% ( 3 % )
adjusted ebitda, $ 10391, $ 248, $ 10639, $ 7393, $ 414, $ 7807
adjusted ebitda margin ( adjusted ebitda divided by service revenues ), 37% ( 37 % ), 1% ( 1 % ), 38% ( 38 % ), 30% ( 30 % ), 1% ( 1 % ), 31% ( 31 % )
----
Follow-up: ['adjusted ebitda margin ( adjusted ebitda divided by service revenues ) 37% ( 37 % ) 1% ( 1 % ) 38% ( 38 % ) 30% ( 30 % ) 1% ( 1 % ) 31% ( 31 % ) liquidity and capital resources our principal sources of liquidity are our cash and cash equivalents and cash generated from operations , proceeds from issuance of long-term debt and common stock , capital leases , the sale of certain receivables , financing arrangements of vendor payables which effectively extend payment terms and secured and unsecured revolving credit facilities with dt. .'] | -600.0 | TMUS/2017/page_52.pdf-3 | ['adjusted ebitda increased $ 574 million , or 5% ( 5 % ) , in 2017 primarily from : 2022 an increase in branded postpaid and prepaid service revenues primarily due to strong customer response to our un- carrier initiatives , the ongoing success of our promotional activities , and the continued strength of our metropcs brand ; 2022 higher wholesale revenues ; and 2022 higher other revenues ; partially offset by 2022 higher selling , general and administrative expenses ; 2022 lower gains on disposal of spectrum licenses of $ 600 million ; gains on disposal were $ 235 million for the year ended december 31 , 2017 , compared to $ 835 million in the same period in 2016 ; 2022 higher cost of services expense ; 2022 higher net losses on equipment ; and 2022 the negative impact from hurricanes of approximately $ 201 million , net of insurance recoveries .', 'adjusted ebitda increased $ 2.8 billion , or 36% ( 36 % ) , in 2016 primarily from : 2022 increased branded postpaid and prepaid service revenues primarily due to strong customer response to our un-carrier initiatives and the ongoing success of our promotional activities ; 2022 higher gains on disposal of spectrum licenses of $ 672 million ; gains on disposal were $ 835 million in 2016 compared to $ 163 million in 2015 ; 2022 lower losses on equipment ; and 2022 focused cost control and synergies realized from the metropcs business combination , primarily in cost of services ; partially offset by 2022 higher selling , general and administrative .', 'effective january 1 , 2017 , the imputed discount on eip receivables , which was previously recognized within interest income in our consolidated statements of comprehensive income , is recognized within other revenues in our consolidated statements of comprehensive income .', 'due to this presentation , the imputed discount on eip receivables is included in adjusted ebitda .', 'see note 1 - summary of significant accounting policies of notes to the consolidated financial statements included in part ii , item 8 of this form 10-k for further information .', 'we have applied this change retrospectively and presented the effect on the years ended december 31 , 2016 and 2015 , in the table below. .'] | ['adjusted ebitda margin ( adjusted ebitda divided by service revenues ) 37% ( 37 % ) 1% ( 1 % ) 38% ( 38 % ) 30% ( 30 % ) 1% ( 1 % ) 31% ( 31 % ) liquidity and capital resources our principal sources of liquidity are our cash and cash equivalents and cash generated from operations , proceeds from issuance of long-term debt and common stock , capital leases , the sale of certain receivables , financing arrangements of vendor payables which effectively extend payment terms and secured and unsecured revolving credit facilities with dt. .'] | ( in millions ), year ended december 31 2016 as filed, year ended december 31 2016 change in accounting principle, year ended december 31 2016 as adjusted, year ended december 31 2016 as filed, year ended december 31 2016 change in accounting principle, as adjusted
operating income, $ 3802, $ 248, $ 4050, $ 2065, $ 414, $ 2479
interest income, 261, -248 ( 248 ), 13, 420, -414 ( 414 ), 6
net income, 1460, 2014, 1460, 733, 2014, 733
net income as a percentage of service revenue, 5% ( 5 % ), 2014% ( 2014 % ), 5% ( 5 % ), 3% ( 3 % ), 2014% ( 2014 % ), 3% ( 3 % )
adjusted ebitda, $ 10391, $ 248, $ 10639, $ 7393, $ 414, $ 7807
adjusted ebitda margin ( adjusted ebitda divided by service revenues ), 37% ( 37 % ), 1% ( 1 % ), 38% ( 38 % ), 30% ( 30 % ), 1% ( 1 % ), 31% ( 31 % ) | subtract(235, 835) | -600.0 |
what is the tax expense related to discontinued operations in 2012? | Background: ['dish network corporation notes to consolidated financial statements - continued recorded as a decrease in 201cincome tax ( provision ) benefit , net 201d on our consolidated statements of operations and comprehensive income ( loss ) for the year ended december 31 , 2013 .', '10 .', 'discontinued operations as of december 31 , 2013 , blockbuster had ceased material operations .', 'the results of blockbuster are presented for all periods as discontinued operations in our consolidated financial statements .', 'during the years ended december 31 , 2013 and 2012 , the revenue from our discontinued operations was $ 503 million and $ 1.085 billion , respectively .', '201cincome ( loss ) from discontinued operations , before income taxes 201d for the same periods was a loss of $ 54 million and $ 62 million , respectively .', 'in addition , 201cincome ( loss ) from discontinued operations , net of tax 201d for the same periods was a loss of $ 47 million and $ 37 million , respectively .', 'as of december 31 , 2013 , the net assets from our discontinued operations consisted of the following : december 31 , 2013 ( in thousands ) .']
##
Data Table:
as of december 31 2013 ( in thousands )
current assets from discontinued operations $ 68239
noncurrent assets from discontinued operations 9965
current liabilities from discontinued operations -49471 ( 49471 )
long-term liabilities from discontinued operations -19804 ( 19804 )
net assets from discontinued operations $ 8929
##
Follow-up: ['blockbuster - domestic since the blockbuster acquisition , we continually evaluated the impact of certain factors , including , among other things , competitive pressures , the ability of significantly fewer company-owned domestic retail stores to continue to support corporate administrative costs , and other issues impacting the store-level financial performance of our company-owned domestic retail stores .', 'these factors , among others , previously led us to close a significant number of company-owned domestic retail stores during 2012 and 2013 .', 'on november 6 , 2013 , we announced that blockbuster would close all of its remaining company-owned domestic retail stores and discontinue the blockbuster by-mail dvd service .', 'as of december 31 , 2013 , blockbuster had ceased material operations .', 'blockbuster 2013 mexico during the third quarter 2013 , we determined that our blockbuster operations in mexico ( 201cblockbuster mexico 201d ) were 201cheld for sale . 201d as a result , we recorded pre-tax impairment charges of $ 19 million related to exiting the business , which was recorded in 201cincome ( loss ) from discontinued operations , net of tax 201d on our consolidated statements of operations and comprehensive income ( loss ) for the year ended december 31 , 2013 .', 'on january 14 , 2014 , we completed the sale of blockbuster mexico .', 'blockbuster uk administration on january 16 , 2013 , blockbuster entertainment limited and blockbuster gb limited , our blockbuster operating subsidiaries in the united kingdom , entered into administration proceedings in the united kingdom ( the 201cadministration 201d ) .', 'as a result of the administration , we wrote down the assets of all our blockbuster uk subsidiaries to their estimated net realizable value on our consolidated balance sheets as of december 31 , 2012 .', 'in total , we recorded charges of approximately $ 46 million on a pre-tax basis related to the administration , which was recorded in 201cincome ( loss ) from discontinued operations , net of tax 201d on our consolidated statements of operations and comprehensive income ( loss ) for the year ended december 31 , 2012. .'] | 25.0 | DISH/2014/page_137.pdf-2 | ['dish network corporation notes to consolidated financial statements - continued recorded as a decrease in 201cincome tax ( provision ) benefit , net 201d on our consolidated statements of operations and comprehensive income ( loss ) for the year ended december 31 , 2013 .', '10 .', 'discontinued operations as of december 31 , 2013 , blockbuster had ceased material operations .', 'the results of blockbuster are presented for all periods as discontinued operations in our consolidated financial statements .', 'during the years ended december 31 , 2013 and 2012 , the revenue from our discontinued operations was $ 503 million and $ 1.085 billion , respectively .', '201cincome ( loss ) from discontinued operations , before income taxes 201d for the same periods was a loss of $ 54 million and $ 62 million , respectively .', 'in addition , 201cincome ( loss ) from discontinued operations , net of tax 201d for the same periods was a loss of $ 47 million and $ 37 million , respectively .', 'as of december 31 , 2013 , the net assets from our discontinued operations consisted of the following : december 31 , 2013 ( in thousands ) .'] | ['blockbuster - domestic since the blockbuster acquisition , we continually evaluated the impact of certain factors , including , among other things , competitive pressures , the ability of significantly fewer company-owned domestic retail stores to continue to support corporate administrative costs , and other issues impacting the store-level financial performance of our company-owned domestic retail stores .', 'these factors , among others , previously led us to close a significant number of company-owned domestic retail stores during 2012 and 2013 .', 'on november 6 , 2013 , we announced that blockbuster would close all of its remaining company-owned domestic retail stores and discontinue the blockbuster by-mail dvd service .', 'as of december 31 , 2013 , blockbuster had ceased material operations .', 'blockbuster 2013 mexico during the third quarter 2013 , we determined that our blockbuster operations in mexico ( 201cblockbuster mexico 201d ) were 201cheld for sale . 201d as a result , we recorded pre-tax impairment charges of $ 19 million related to exiting the business , which was recorded in 201cincome ( loss ) from discontinued operations , net of tax 201d on our consolidated statements of operations and comprehensive income ( loss ) for the year ended december 31 , 2013 .', 'on january 14 , 2014 , we completed the sale of blockbuster mexico .', 'blockbuster uk administration on january 16 , 2013 , blockbuster entertainment limited and blockbuster gb limited , our blockbuster operating subsidiaries in the united kingdom , entered into administration proceedings in the united kingdom ( the 201cadministration 201d ) .', 'as a result of the administration , we wrote down the assets of all our blockbuster uk subsidiaries to their estimated net realizable value on our consolidated balance sheets as of december 31 , 2012 .', 'in total , we recorded charges of approximately $ 46 million on a pre-tax basis related to the administration , which was recorded in 201cincome ( loss ) from discontinued operations , net of tax 201d on our consolidated statements of operations and comprehensive income ( loss ) for the year ended december 31 , 2012. .'] | as of december 31 2013 ( in thousands )
current assets from discontinued operations $ 68239
noncurrent assets from discontinued operations 9965
current liabilities from discontinued operations -49471 ( 49471 )
long-term liabilities from discontinued operations -19804 ( 19804 )
net assets from discontinued operations $ 8929 | subtract(62, 37) | 25.0 |
what is the percentage change in net debt to net capital excluding securitization bonds from 2012 to 2013? | Pre-text: ['human capital management strategic imperative entergy engaged in a strategic imperative intended to optimize the organization through a process known as human capital management .', 'in july 2013 management completed a comprehensive review of entergy 2019s organization design and processes .', 'this effort resulted in a new internal organization structure , which resulted in the elimination of approximately 800 employee positions .', 'entergy incurred approximately $ 110 million in costs in 2013 associated with this phase of human capital management , primarily implementation costs , severance expenses , pension curtailment losses , special termination benefits expense , and corporate property , plant , and equipment impairments .', 'in december 2013 , entergy deferred for future recovery approximately $ 45 million of these costs , as approved by the apsc and the lpsc .', 'see note 2 to the financial statements for details of the deferrals and note 13 to the financial statements for details of the restructuring charges .', 'liquidity and capital resources this section discusses entergy 2019s capital structure , capital spending plans and other uses of capital , sources of capital , and the cash flow activity presented in the cash flow statement .', 'capital structure entergy 2019s capitalization is balanced between equity and debt , as shown in the following table. .']
Tabular Data:
Row 1: , 2013, 2012
Row 2: debt to capital, 57.9% ( 57.9 % ), 58.7% ( 58.7 % )
Row 3: effect of excluding securitization bonds, ( 1.6% ( 1.6 % ) ), ( 1.8% ( 1.8 % ) )
Row 4: debt to capital excluding securitization bonds ( a ), 56.3% ( 56.3 % ), 56.9% ( 56.9 % )
Row 5: effect of subtracting cash, ( 1.5% ( 1.5 % ) ), ( 1.1% ( 1.1 % ) )
Row 6: net debt to net capital excluding securitization bonds ( a ), 54.8% ( 54.8 % ), 55.8% ( 55.8 % )
Follow-up: ['( a ) calculation excludes the arkansas , louisiana , and texas securitization bonds , which are non-recourse to entergy arkansas , entergy louisiana , and entergy texas , respectively .', 'net debt consists of debt less cash and cash equivalents .', 'debt consists of notes payable and commercial paper , capital lease obligations , and long-term debt , including the currently maturing portion .', 'capital consists of debt , common shareholders 2019 equity , and subsidiaries 2019 preferred stock without sinking fund .', 'net capital consists of capital less cash and cash equivalents .', 'entergy uses the debt to capital ratios excluding securitization bonds in analyzing its financial condition and believes they provide useful information to its investors and creditors in evaluating entergy 2019s financial condition because the securitization bonds are non-recourse to entergy , as more fully described in note 5 to the financial statements .', 'entergy also uses the net debt to net capital ratio excluding securitization bonds in analyzing its financial condition and believes it provides useful information to its investors and creditors in evaluating entergy 2019s financial condition because net debt indicates entergy 2019s outstanding debt position that could not be readily satisfied by cash and cash equivalents on hand .', 'long-term debt , including the currently maturing portion , makes up most of entergy 2019s total debt outstanding .', 'following are entergy 2019s long-term debt principal maturities and estimated interest payments as of december 31 , 2013 .', 'to estimate future interest payments for variable rate debt , entergy used the rate as of december 31 , 2013 .', 'the amounts below include payments on the entergy louisiana and system energy sale-leaseback transactions , which are included in long-term debt on the balance sheet .', "entergy corporation and subsidiaries management's financial discussion and analysis ."] | -0.01792 | ETR/2013/page_28.pdf-2 | ['human capital management strategic imperative entergy engaged in a strategic imperative intended to optimize the organization through a process known as human capital management .', 'in july 2013 management completed a comprehensive review of entergy 2019s organization design and processes .', 'this effort resulted in a new internal organization structure , which resulted in the elimination of approximately 800 employee positions .', 'entergy incurred approximately $ 110 million in costs in 2013 associated with this phase of human capital management , primarily implementation costs , severance expenses , pension curtailment losses , special termination benefits expense , and corporate property , plant , and equipment impairments .', 'in december 2013 , entergy deferred for future recovery approximately $ 45 million of these costs , as approved by the apsc and the lpsc .', 'see note 2 to the financial statements for details of the deferrals and note 13 to the financial statements for details of the restructuring charges .', 'liquidity and capital resources this section discusses entergy 2019s capital structure , capital spending plans and other uses of capital , sources of capital , and the cash flow activity presented in the cash flow statement .', 'capital structure entergy 2019s capitalization is balanced between equity and debt , as shown in the following table. .'] | ['( a ) calculation excludes the arkansas , louisiana , and texas securitization bonds , which are non-recourse to entergy arkansas , entergy louisiana , and entergy texas , respectively .', 'net debt consists of debt less cash and cash equivalents .', 'debt consists of notes payable and commercial paper , capital lease obligations , and long-term debt , including the currently maturing portion .', 'capital consists of debt , common shareholders 2019 equity , and subsidiaries 2019 preferred stock without sinking fund .', 'net capital consists of capital less cash and cash equivalents .', 'entergy uses the debt to capital ratios excluding securitization bonds in analyzing its financial condition and believes they provide useful information to its investors and creditors in evaluating entergy 2019s financial condition because the securitization bonds are non-recourse to entergy , as more fully described in note 5 to the financial statements .', 'entergy also uses the net debt to net capital ratio excluding securitization bonds in analyzing its financial condition and believes it provides useful information to its investors and creditors in evaluating entergy 2019s financial condition because net debt indicates entergy 2019s outstanding debt position that could not be readily satisfied by cash and cash equivalents on hand .', 'long-term debt , including the currently maturing portion , makes up most of entergy 2019s total debt outstanding .', 'following are entergy 2019s long-term debt principal maturities and estimated interest payments as of december 31 , 2013 .', 'to estimate future interest payments for variable rate debt , entergy used the rate as of december 31 , 2013 .', 'the amounts below include payments on the entergy louisiana and system energy sale-leaseback transactions , which are included in long-term debt on the balance sheet .', "entergy corporation and subsidiaries management's financial discussion and analysis ."] | Row 1: , 2013, 2012
Row 2: debt to capital, 57.9% ( 57.9 % ), 58.7% ( 58.7 % )
Row 3: effect of excluding securitization bonds, ( 1.6% ( 1.6 % ) ), ( 1.8% ( 1.8 % ) )
Row 4: debt to capital excluding securitization bonds ( a ), 56.3% ( 56.3 % ), 56.9% ( 56.9 % )
Row 5: effect of subtracting cash, ( 1.5% ( 1.5 % ) ), ( 1.1% ( 1.1 % ) )
Row 6: net debt to net capital excluding securitization bonds ( a ), 54.8% ( 54.8 % ), 55.8% ( 55.8 % ) | subtract(54.8, 55.8), divide(#0, 55.8) | -0.01792 |
what was the percentage change in total stockholders' equity due to the adoption of fas 158? | Background: ['the following table illustrates the incremental effect of applying sfas no .', '158 on individual line items of the balance sheet as of december 31 , 2006 .', 'before after application of application of ( in millions ) sfas no .', '158 adjustments sfas no .', '158 .']
------
Data Table:
========================================
Row 1: ( in millions ), before application of sfas no . 158, adjustments, after application of sfas no . 158
Row 2: prepaid pensions, $ 229, $ -229 ( 229 ), $ 2013
Row 3: investments and long-term receivables, 1893, -6 ( 6 ), 1887
Row 4: total assets, 31066, -235 ( 235 ), 30831
Row 5: payroll and benefits payable, 384, 25, 409
Row 6: defined benefit postretirement plan obligations, 870, 375, 1245
Row 7: long-term deferred income taxes, 2183, -286 ( 286 ), 1897
Row 8: deferred credits and other liabilities, 397, -6 ( 6 ), 391
Row 9: total liabilities, 15598, 108, 15706
Row 10: accumulated other comprehensive loss, -25 ( 25 ), -343 ( 343 ), -368 ( 368 )
Row 11: total stockholders' equity, $ 14950, $ -343 ( 343 ), $ 14607
========================================
------
Additional Information: ['sab no .', '108 2013 in september 2006 , the securities and exchange commission issued staff accounting bulletin ( 2018 2018sab 2019 2019 ) no .', '108 , 2018 2018financial statements 2013 considering the effects of prior year misstatements when quantifying misstatements in current year financial statements . 2019 2019 sab no .', '108 addresses how a registrant should quantify the effect of an error in the financial statements for purposes of assessing materiality and requires that the effect be computed using both the current year income statement perspective ( 2018 2018rollover 2019 2019 ) and the year end balance sheet perspective ( 2018 2018iron curtain 2019 2019 ) methods for fiscal years ending after november 15 , 2006 .', 'if a change in the method of quantifying errors is required under sab no .', '108 , this represents a change in accounting policy ; therefore , if the use of both methods results in a larger , material misstatement than the previously applied method , the financial statements must be adjusted .', 'sab no .', '108 allows the cumulative effect of such adjustments to be made to opening retained earnings upon adoption .', 'marathon adopted sab no .', '108 for the year ended december 31 , 2006 , and adoption did not have an effect on marathon 2019s consolidated results of operations , financial position or cash flows .', 'eitf issue no .', '06-03 2013 in june 2006 , the fasb ratified the consensus reached by the eitf regarding issue no .', '06-03 , 2018 2018how taxes collected from customers and remitted to governmental authorities should be presented in the income statement ( that is , gross versus net presentation ) . 2019 2019 included in the scope of this issue are any taxes assessed by a governmental authority that are imposed on and concurrent with a specific revenue-producing transaction between a seller and a customer .', 'the eitf concluded that the presentation of such taxes on a gross basis ( included in revenues and costs ) or a net basis ( excluded from revenues ) is an accounting policy decision that should be disclosed pursuant to accounting principles board ( 2018 2018apb 2019 2019 ) opinion no .', '22 , 2018 2018disclosure of accounting policies . 2019 2019 in addition , the amounts of such taxes reported on a gross basis must be disclosed if those tax amounts are significant .', 'the policy disclosures required by this consensus are included in note 1 under the heading 2018 2018consumer excise taxes 2019 2019 and the taxes reported on a gross basis are presented separately as consumer excise taxes in the consolidated statements of income .', 'eitf issue no .', '04-13 2013 in september 2005 , the fasb ratified the consensus reached by the eitf on issue no .', '04-13 , 2018 2018accounting for purchases and sales of inventory with the same counterparty . 2019 2019 the consensus establishes the circumstances under which two or more inventory purchase and sale transactions with the same counterparty should be recognized at fair value or viewed as a single exchange transaction subject to apb opinion no .', '29 , 2018 2018accounting for nonmonetary transactions . 2019 2019 in general , two or more transactions with the same counterparty must be combined for purposes of applying apb opinion no .', '29 if they are entered into in contemplation of each other .', 'the purchase and sale transactions may be pursuant to a single contractual arrangement or separate contractual arrangements and the inventory purchased or sold may be in the form of raw materials , work-in-process or finished goods .', 'effective april 1 , 2006 , marathon adopted the provisions of eitf issue no .', '04-13 prospectively .', 'eitf issue no .', '04-13 changes the accounting for matching buy/sell arrangements that are entered into or modified on or after april 1 , 2006 ( except for those accounted for as derivative instruments , which are discussed below ) .', 'in a typical matching buy/sell transaction , marathon enters into a contract to sell a particular quantity and quality of crude oil or refined product at a specified location and date to a particular counterparty and simultaneously agrees to buy a particular quantity and quality of the same commodity at a specified location on the same or another specified date from the same counterparty .', 'prior to adoption of eitf issue no .', '04-13 , marathon recorded such matching buy/sell transactions in both revenues and cost of revenues as separate sale and purchase transactions .', 'upon adoption , these transactions are accounted for as exchanges of inventory .', 'the scope of eitf issue no .', '04-13 excludes matching buy/sell arrangements that are accounted for as derivative instruments .', 'a portion of marathon 2019s matching buy/sell transactions are 2018 2018nontraditional derivative instruments , 2019 2019 which are discussed in note 1 .', 'although the accounting for nontraditional derivative instruments is outside the scope of eitf issue no .', '04-13 , the conclusions reached in that consensus caused marathon to reconsider the guidance in eitf issue no .', '03-11 , 2018 2018reporting realized gains and losses on derivative instruments that are subject to fasb statement no .', '133 and not 2018 2018held for trading purposes 2019 2019 as defined in issue no .', '02-3 . 2019 2019 as a result , effective for contracts entered into or modified on or after april 1 , 2006 , the effects of matching buy/sell arrangements accounted for as nontraditional derivative instruments are recognized on a net basis in net income and are classified as cost of revenues .', 'prior to this change , marathon recorded these transactions in both revenues and cost of revenues as separate sale and purchase transactions .', 'this change in accounting principle is being applied on a prospective basis because it is impracticable to apply the change on a retrospective basis. .'] | -0.02294 | MRO/2006/page_92.pdf-1 | ['the following table illustrates the incremental effect of applying sfas no .', '158 on individual line items of the balance sheet as of december 31 , 2006 .', 'before after application of application of ( in millions ) sfas no .', '158 adjustments sfas no .', '158 .'] | ['sab no .', '108 2013 in september 2006 , the securities and exchange commission issued staff accounting bulletin ( 2018 2018sab 2019 2019 ) no .', '108 , 2018 2018financial statements 2013 considering the effects of prior year misstatements when quantifying misstatements in current year financial statements . 2019 2019 sab no .', '108 addresses how a registrant should quantify the effect of an error in the financial statements for purposes of assessing materiality and requires that the effect be computed using both the current year income statement perspective ( 2018 2018rollover 2019 2019 ) and the year end balance sheet perspective ( 2018 2018iron curtain 2019 2019 ) methods for fiscal years ending after november 15 , 2006 .', 'if a change in the method of quantifying errors is required under sab no .', '108 , this represents a change in accounting policy ; therefore , if the use of both methods results in a larger , material misstatement than the previously applied method , the financial statements must be adjusted .', 'sab no .', '108 allows the cumulative effect of such adjustments to be made to opening retained earnings upon adoption .', 'marathon adopted sab no .', '108 for the year ended december 31 , 2006 , and adoption did not have an effect on marathon 2019s consolidated results of operations , financial position or cash flows .', 'eitf issue no .', '06-03 2013 in june 2006 , the fasb ratified the consensus reached by the eitf regarding issue no .', '06-03 , 2018 2018how taxes collected from customers and remitted to governmental authorities should be presented in the income statement ( that is , gross versus net presentation ) . 2019 2019 included in the scope of this issue are any taxes assessed by a governmental authority that are imposed on and concurrent with a specific revenue-producing transaction between a seller and a customer .', 'the eitf concluded that the presentation of such taxes on a gross basis ( included in revenues and costs ) or a net basis ( excluded from revenues ) is an accounting policy decision that should be disclosed pursuant to accounting principles board ( 2018 2018apb 2019 2019 ) opinion no .', '22 , 2018 2018disclosure of accounting policies . 2019 2019 in addition , the amounts of such taxes reported on a gross basis must be disclosed if those tax amounts are significant .', 'the policy disclosures required by this consensus are included in note 1 under the heading 2018 2018consumer excise taxes 2019 2019 and the taxes reported on a gross basis are presented separately as consumer excise taxes in the consolidated statements of income .', 'eitf issue no .', '04-13 2013 in september 2005 , the fasb ratified the consensus reached by the eitf on issue no .', '04-13 , 2018 2018accounting for purchases and sales of inventory with the same counterparty . 2019 2019 the consensus establishes the circumstances under which two or more inventory purchase and sale transactions with the same counterparty should be recognized at fair value or viewed as a single exchange transaction subject to apb opinion no .', '29 , 2018 2018accounting for nonmonetary transactions . 2019 2019 in general , two or more transactions with the same counterparty must be combined for purposes of applying apb opinion no .', '29 if they are entered into in contemplation of each other .', 'the purchase and sale transactions may be pursuant to a single contractual arrangement or separate contractual arrangements and the inventory purchased or sold may be in the form of raw materials , work-in-process or finished goods .', 'effective april 1 , 2006 , marathon adopted the provisions of eitf issue no .', '04-13 prospectively .', 'eitf issue no .', '04-13 changes the accounting for matching buy/sell arrangements that are entered into or modified on or after april 1 , 2006 ( except for those accounted for as derivative instruments , which are discussed below ) .', 'in a typical matching buy/sell transaction , marathon enters into a contract to sell a particular quantity and quality of crude oil or refined product at a specified location and date to a particular counterparty and simultaneously agrees to buy a particular quantity and quality of the same commodity at a specified location on the same or another specified date from the same counterparty .', 'prior to adoption of eitf issue no .', '04-13 , marathon recorded such matching buy/sell transactions in both revenues and cost of revenues as separate sale and purchase transactions .', 'upon adoption , these transactions are accounted for as exchanges of inventory .', 'the scope of eitf issue no .', '04-13 excludes matching buy/sell arrangements that are accounted for as derivative instruments .', 'a portion of marathon 2019s matching buy/sell transactions are 2018 2018nontraditional derivative instruments , 2019 2019 which are discussed in note 1 .', 'although the accounting for nontraditional derivative instruments is outside the scope of eitf issue no .', '04-13 , the conclusions reached in that consensus caused marathon to reconsider the guidance in eitf issue no .', '03-11 , 2018 2018reporting realized gains and losses on derivative instruments that are subject to fasb statement no .', '133 and not 2018 2018held for trading purposes 2019 2019 as defined in issue no .', '02-3 . 2019 2019 as a result , effective for contracts entered into or modified on or after april 1 , 2006 , the effects of matching buy/sell arrangements accounted for as nontraditional derivative instruments are recognized on a net basis in net income and are classified as cost of revenues .', 'prior to this change , marathon recorded these transactions in both revenues and cost of revenues as separate sale and purchase transactions .', 'this change in accounting principle is being applied on a prospective basis because it is impracticable to apply the change on a retrospective basis. .'] | ========================================
Row 1: ( in millions ), before application of sfas no . 158, adjustments, after application of sfas no . 158
Row 2: prepaid pensions, $ 229, $ -229 ( 229 ), $ 2013
Row 3: investments and long-term receivables, 1893, -6 ( 6 ), 1887
Row 4: total assets, 31066, -235 ( 235 ), 30831
Row 5: payroll and benefits payable, 384, 25, 409
Row 6: defined benefit postretirement plan obligations, 870, 375, 1245
Row 7: long-term deferred income taxes, 2183, -286 ( 286 ), 1897
Row 8: deferred credits and other liabilities, 397, -6 ( 6 ), 391
Row 9: total liabilities, 15598, 108, 15706
Row 10: accumulated other comprehensive loss, -25 ( 25 ), -343 ( 343 ), -368 ( 368 )
Row 11: total stockholders' equity, $ 14950, $ -343 ( 343 ), $ 14607
======================================== | divide(-343, 14950) | -0.02294 |
what is the growth rate in operating revenue from 2000 to 2001? | Context: ['other taxes decreased in 2001 because its utility operations in virginia became subject to state income taxes in lieu of gross receipts taxes effective january 2001 .', 'in addition , dominion recognized higher effective rates for foreign earnings and higher pretax income in relation to non-conventional fuel tax credits realized .', 'dominion energy 2002 2001 2000 ( millions , except per share amounts ) .']
####
Data Table:
----------------------------------------
( millions except pershare amounts ) | 2002 | 2001 | 2000
operating revenue | $ 5940 | $ 6144 | $ 4894
operating expenses | 4520 | 4749 | 3939
net income contribution | 770 | 723 | 489
earnings per share contribution | $ 2.72 | $ 2.86 | $ 2.07
electricity supplied* ( million mwhrs ) | 101 | 95 | 83
gas transmission throughput ( bcf ) | 597 | 553 | 567
----------------------------------------
####
Follow-up: ['* amounts presented are for electricity supplied by utility and merchant generation operations .', 'operating results 2014 2002 dominion energy contributed $ 2.72 per diluted share on net income of $ 770 million for 2002 , a net income increase of $ 47 million and an earnings per share decrease of $ 0.14 over 2001 .', 'net income for 2002 reflected lower operating revenue ( $ 204 million ) , operating expenses ( $ 229 million ) and other income ( $ 27 million ) .', 'interest expense and income taxes , which are discussed on a consolidated basis , decreased $ 50 million over 2001 .', 'the earnings per share decrease reflected share dilution .', 'regulated electric sales revenue increased $ 179 million .', 'favorable weather conditions , reflecting increased cooling and heating degree-days , as well as customer growth , are estimated to have contributed $ 133 million and $ 41 million , respectively .', 'fuel rate recoveries increased approximately $ 65 million for 2002 .', 'these recoveries are generally offset by increases in elec- tric fuel expense and do not materially affect income .', 'partially offsetting these increases was a net decrease of $ 60 million due to other factors not separately measurable , such as the impact of economic conditions on customer usage , as well as variations in seasonal rate premiums and discounts .', 'nonregulated electric sales revenue increased $ 9 million .', 'sales revenue from dominion 2019s merchant generation fleet decreased $ 21 million , reflecting a $ 201 million decline due to lower prices partially offset by sales from assets acquired and constructed in 2002 and the inclusion of millstone operations for all of 2002 .', 'revenue from the wholesale marketing of utility generation decreased $ 74 million .', 'due to the higher demand of utility service territory customers during 2002 , less production from utility plant generation was available for profitable sale in the wholesale market .', 'revenue from retail energy sales increased $ 71 million , reflecting primarily customer growth over the prior year .', 'net revenue from dominion 2019s electric trading activities increased $ 33 million , reflecting the effect of favorable price changes on unsettled contracts and higher trading margins .', 'nonregulated gas sales revenue decreased $ 351 million .', 'the decrease included a $ 239 million decrease in sales by dominion 2019s field services and retail energy marketing opera- tions , reflecting to a large extent declining prices .', 'revenue associated with gas trading operations , net of related cost of sales , decreased $ 112 million .', 'the decrease included $ 70 mil- lion of realized and unrealized losses on the economic hedges of natural gas production by the dominion exploration & pro- duction segment .', 'as described below under selected information 2014 energy trading activities , sales of natural gas by the dominion exploration & production segment at market prices offset these financial losses , resulting in a range of prices contemplated by dominion 2019s overall risk management strategy .', 'the remaining $ 42 million decrease was due to unfavorable price changes on unsettled contracts and lower overall trading margins .', 'those losses were partially offset by contributions from higher trading volumes in gas and oil markets .', 'gas transportation and storage revenue decreased $ 44 million , primarily reflecting lower rates .', 'electric fuel and energy purchases expense increased $ 94 million which included an increase of $ 66 million associated with dominion 2019s energy marketing operations that are not sub- ject to cost-based rate regulation and an increase of $ 28 million associated with utility operations .', 'substantially all of the increase associated with non-regulated energy marketing opera- tions related to higher volumes purchased during the year .', 'for utility operations , energy costs increased $ 66 million for pur- chases subject to rate recovery , partially offset by a $ 38 million decrease in fuel expenses associated with lower wholesale mar- keting of utility plant generation .', 'purchased gas expense decreased $ 245 million associated with dominion 2019s field services and retail energy marketing oper- ations .', 'this decrease reflected approximately $ 162 million asso- ciated with declining prices and $ 83 million associated with lower purchased volumes .', 'liquids , pipeline capacity and other purchases decreased $ 64 million , primarily reflecting comparably lower levels of rate recoveries of certain costs of transmission operations in the cur- rent year period .', 'the difference between actual expenses and amounts recovered in the period are deferred pending future rate adjustments .', 'other operations and maintenance expense decreased $ 14 million , primarily reflecting an $ 18 million decrease in outage costs due to fewer generation unit outages in the current year .', 'depreciation expense decreased $ 11 million , reflecting decreases in depreciation associated with changes in the esti- mated useful lives of certain electric generation property , par- tially offset by increased depreciation associated with state line and millstone operations .', 'other income decreased $ 27 million , including a $ 14 mil- lion decrease in net realized investment gains in the millstone 37d o m i n i o n 2019 0 2 a n n u a l r e p o r t .'] | 0.25541 | D/2002/page_39.pdf-3 | ['other taxes decreased in 2001 because its utility operations in virginia became subject to state income taxes in lieu of gross receipts taxes effective january 2001 .', 'in addition , dominion recognized higher effective rates for foreign earnings and higher pretax income in relation to non-conventional fuel tax credits realized .', 'dominion energy 2002 2001 2000 ( millions , except per share amounts ) .'] | ['* amounts presented are for electricity supplied by utility and merchant generation operations .', 'operating results 2014 2002 dominion energy contributed $ 2.72 per diluted share on net income of $ 770 million for 2002 , a net income increase of $ 47 million and an earnings per share decrease of $ 0.14 over 2001 .', 'net income for 2002 reflected lower operating revenue ( $ 204 million ) , operating expenses ( $ 229 million ) and other income ( $ 27 million ) .', 'interest expense and income taxes , which are discussed on a consolidated basis , decreased $ 50 million over 2001 .', 'the earnings per share decrease reflected share dilution .', 'regulated electric sales revenue increased $ 179 million .', 'favorable weather conditions , reflecting increased cooling and heating degree-days , as well as customer growth , are estimated to have contributed $ 133 million and $ 41 million , respectively .', 'fuel rate recoveries increased approximately $ 65 million for 2002 .', 'these recoveries are generally offset by increases in elec- tric fuel expense and do not materially affect income .', 'partially offsetting these increases was a net decrease of $ 60 million due to other factors not separately measurable , such as the impact of economic conditions on customer usage , as well as variations in seasonal rate premiums and discounts .', 'nonregulated electric sales revenue increased $ 9 million .', 'sales revenue from dominion 2019s merchant generation fleet decreased $ 21 million , reflecting a $ 201 million decline due to lower prices partially offset by sales from assets acquired and constructed in 2002 and the inclusion of millstone operations for all of 2002 .', 'revenue from the wholesale marketing of utility generation decreased $ 74 million .', 'due to the higher demand of utility service territory customers during 2002 , less production from utility plant generation was available for profitable sale in the wholesale market .', 'revenue from retail energy sales increased $ 71 million , reflecting primarily customer growth over the prior year .', 'net revenue from dominion 2019s electric trading activities increased $ 33 million , reflecting the effect of favorable price changes on unsettled contracts and higher trading margins .', 'nonregulated gas sales revenue decreased $ 351 million .', 'the decrease included a $ 239 million decrease in sales by dominion 2019s field services and retail energy marketing opera- tions , reflecting to a large extent declining prices .', 'revenue associated with gas trading operations , net of related cost of sales , decreased $ 112 million .', 'the decrease included $ 70 mil- lion of realized and unrealized losses on the economic hedges of natural gas production by the dominion exploration & pro- duction segment .', 'as described below under selected information 2014 energy trading activities , sales of natural gas by the dominion exploration & production segment at market prices offset these financial losses , resulting in a range of prices contemplated by dominion 2019s overall risk management strategy .', 'the remaining $ 42 million decrease was due to unfavorable price changes on unsettled contracts and lower overall trading margins .', 'those losses were partially offset by contributions from higher trading volumes in gas and oil markets .', 'gas transportation and storage revenue decreased $ 44 million , primarily reflecting lower rates .', 'electric fuel and energy purchases expense increased $ 94 million which included an increase of $ 66 million associated with dominion 2019s energy marketing operations that are not sub- ject to cost-based rate regulation and an increase of $ 28 million associated with utility operations .', 'substantially all of the increase associated with non-regulated energy marketing opera- tions related to higher volumes purchased during the year .', 'for utility operations , energy costs increased $ 66 million for pur- chases subject to rate recovery , partially offset by a $ 38 million decrease in fuel expenses associated with lower wholesale mar- keting of utility plant generation .', 'purchased gas expense decreased $ 245 million associated with dominion 2019s field services and retail energy marketing oper- ations .', 'this decrease reflected approximately $ 162 million asso- ciated with declining prices and $ 83 million associated with lower purchased volumes .', 'liquids , pipeline capacity and other purchases decreased $ 64 million , primarily reflecting comparably lower levels of rate recoveries of certain costs of transmission operations in the cur- rent year period .', 'the difference between actual expenses and amounts recovered in the period are deferred pending future rate adjustments .', 'other operations and maintenance expense decreased $ 14 million , primarily reflecting an $ 18 million decrease in outage costs due to fewer generation unit outages in the current year .', 'depreciation expense decreased $ 11 million , reflecting decreases in depreciation associated with changes in the esti- mated useful lives of certain electric generation property , par- tially offset by increased depreciation associated with state line and millstone operations .', 'other income decreased $ 27 million , including a $ 14 mil- lion decrease in net realized investment gains in the millstone 37d o m i n i o n 2019 0 2 a n n u a l r e p o r t .'] | ----------------------------------------
( millions except pershare amounts ) | 2002 | 2001 | 2000
operating revenue | $ 5940 | $ 6144 | $ 4894
operating expenses | 4520 | 4749 | 3939
net income contribution | 770 | 723 | 489
earnings per share contribution | $ 2.72 | $ 2.86 | $ 2.07
electricity supplied* ( million mwhrs ) | 101 | 95 | 83
gas transmission throughput ( bcf ) | 597 | 553 | 567
---------------------------------------- | subtract(6144, 4894), divide(#0, 4894) | 0.25541 |
what percentage of total contractual obligations is long-term debt? | Background: ['customary affirmative and negative covenants and events of default for an unsecured financing arrangement , including , among other things , limitations on consolidations , mergers and sales of assets .', 'financial covenants include a maximum leverage ratio of 3.0 to 1.0 and a minimum interest coverage ratio of 3.5 to 1.0 .', 'if we fall below an investment grade credit rating , additional restrictions would result , including restrictions on investments , payment of dividends and stock repurchases .', 'we were in compliance with all covenants under the senior credit facility as of december 31 , 2007 .', 'commitments under the senior credit facility are subject to certain fees , including a facility and a utilization fee .', 'the senior credit facility is rated a- by standard & poor 2019s ratings services and is not rated by moody 2019s investors 2019 service , inc .', 'we also have available uncommitted credit facilities totaling $ 70.4 million .', 'management believes that cash flows from operations , together with available borrowings under the senior credit facility , are sufficient to meet our expected working capital , capital expenditure and debt service needs .', 'should investment opportunities arise , we believe that our earnings , balance sheet and cash flows will allow us to obtain additional capital , if necessary .', 'contractual obligations we have entered into contracts with various third parties in the normal course of business which will require future payments .', 'the following table illustrates our contractual obligations ( in millions ) : contractual obligations total 2008 thereafter .']
--------
Table:
****************************************
contractual obligations | total | 2008 | 2009 and 2010 | 2011 and 2012 | 2013 and thereafter
----------|----------|----------|----------|----------|----------
long-term debt | $ 104.3 | $ 2013 | $ 2013 | $ 104.3 | $ 2013
operating leases | 134.3 | 35.4 | 50.0 | 28.6 | 20.3
purchase obligations | 24.6 | 23.2 | 1.4 | 2013 | 2013
long-term income taxes payable | 137.0 | 2013 | 57.7 | 53.9 | 25.4
other long-term liabilities | 191.4 | 2013 | 47.3 | 17.1 | 127.0
total contractual obligations | $ 591.6 | $ 58.6 | $ 156.4 | $ 203.9 | $ 172.7
****************************************
--------
Post-table: ['total contractual obligations $ 591.6 $ 58.6 $ 156.4 $ 203.9 $ 172.7 critical accounting estimates our financial results are affected by the selection and application of accounting policies and methods .', 'significant accounting policies which require management 2019s judgment are discussed below .', 'excess inventory and instruments 2013 we must determine as of each balance sheet date how much , if any , of our inventory may ultimately prove to be unsaleable or unsaleable at our carrying cost .', 'similarly , we must also determine if instruments on hand will be put to productive use or remain undeployed as a result of excess supply .', 'reserves are established to effectively adjust inventory and instruments to net realizable value .', 'to determine the appropriate level of reserves , we evaluate current stock levels in relation to historical and expected patterns of demand for all of our products and instrument systems and components .', 'the basis for the determination is generally the same for all inventory and instrument items and categories except for work-in-progress inventory , which is recorded at cost .', 'obsolete or discontinued items are generally destroyed and completely written off .', 'management evaluates the need for changes to valuation reserves based on market conditions , competitive offerings and other factors on a regular basis .', 'income taxes fffd we estimate income tax expense and income tax liabilities and assets by taxable jurisdiction .', 'realization of deferred tax assets in each taxable jurisdiction is dependent on our ability to generate future taxable income sufficient to realize the benefits .', 'we evaluate deferred tax assets on an ongoing basis and provide valuation allowances if it is determined to be 201cmore likely than not 201d that the deferred tax benefit will not be realized .', 'federal income taxes are provided on the portion of the income of foreign subsidiaries that is expected to be remitted to the u.s .', 'we operate within numerous taxing jurisdictions .', 'we are subject to regulatory review or audit in virtually all of those jurisdictions and those reviews and audits may require extended periods of time to resolve .', 'we make use of all available information and make reasoned judgments regarding matters requiring interpretation in establishing tax expense , liabilities and reserves .', 'we believe adequate provisions exist for income taxes for all periods and jurisdictions subject to review or audit .', 'commitments and contingencies 2013 accruals for product liability and other claims are established with internal and external legal counsel based on current information and historical settlement information for claims , related fees and for claims incurred but not reported .', 'we use an actuarial model to assist management in determining an appropriate level of accruals for product liability claims .', 'historical patterns of claim loss development over time are statistically analyzed to arrive at factors which are then applied to loss estimates in the actuarial model .', 'the amounts established equate to less than 5 percent of total liabilities and represent management 2019s best estimate of the ultimate costs that we will incur under the various contingencies .', 'goodwill and intangible assets 2013 we evaluate the carrying value of goodwill and indefinite life intangible assets annually , or whenever events or circumstances indicate the carrying value may not be recoverable .', 'we evaluate the carrying value of finite life intangible assets whenever events or circumstances indicate the carrying value may not be recoverable .', 'significant assumptions are required to estimate the fair value of goodwill and intangible assets , most notably estimated future cash flows generated by these assets .', 'as such , these fair valuation measurements use significant unobservable inputs as defined under statement of financial accounting standards no .', '157 , fair value measurements .', 'changes to these assumptions could require us to record impairment charges on these assets .', 'share-based payment 2013 we account for share-based payment expense in accordance with the fair value z i m m e r h o l d i n g s , i n c .', '2 0 0 7 f o r m 1 0 - k a n n u a l r e p o r t .'] | 0.1763 | ZBH/2007/page_54.pdf-3 | ['customary affirmative and negative covenants and events of default for an unsecured financing arrangement , including , among other things , limitations on consolidations , mergers and sales of assets .', 'financial covenants include a maximum leverage ratio of 3.0 to 1.0 and a minimum interest coverage ratio of 3.5 to 1.0 .', 'if we fall below an investment grade credit rating , additional restrictions would result , including restrictions on investments , payment of dividends and stock repurchases .', 'we were in compliance with all covenants under the senior credit facility as of december 31 , 2007 .', 'commitments under the senior credit facility are subject to certain fees , including a facility and a utilization fee .', 'the senior credit facility is rated a- by standard & poor 2019s ratings services and is not rated by moody 2019s investors 2019 service , inc .', 'we also have available uncommitted credit facilities totaling $ 70.4 million .', 'management believes that cash flows from operations , together with available borrowings under the senior credit facility , are sufficient to meet our expected working capital , capital expenditure and debt service needs .', 'should investment opportunities arise , we believe that our earnings , balance sheet and cash flows will allow us to obtain additional capital , if necessary .', 'contractual obligations we have entered into contracts with various third parties in the normal course of business which will require future payments .', 'the following table illustrates our contractual obligations ( in millions ) : contractual obligations total 2008 thereafter .'] | ['total contractual obligations $ 591.6 $ 58.6 $ 156.4 $ 203.9 $ 172.7 critical accounting estimates our financial results are affected by the selection and application of accounting policies and methods .', 'significant accounting policies which require management 2019s judgment are discussed below .', 'excess inventory and instruments 2013 we must determine as of each balance sheet date how much , if any , of our inventory may ultimately prove to be unsaleable or unsaleable at our carrying cost .', 'similarly , we must also determine if instruments on hand will be put to productive use or remain undeployed as a result of excess supply .', 'reserves are established to effectively adjust inventory and instruments to net realizable value .', 'to determine the appropriate level of reserves , we evaluate current stock levels in relation to historical and expected patterns of demand for all of our products and instrument systems and components .', 'the basis for the determination is generally the same for all inventory and instrument items and categories except for work-in-progress inventory , which is recorded at cost .', 'obsolete or discontinued items are generally destroyed and completely written off .', 'management evaluates the need for changes to valuation reserves based on market conditions , competitive offerings and other factors on a regular basis .', 'income taxes fffd we estimate income tax expense and income tax liabilities and assets by taxable jurisdiction .', 'realization of deferred tax assets in each taxable jurisdiction is dependent on our ability to generate future taxable income sufficient to realize the benefits .', 'we evaluate deferred tax assets on an ongoing basis and provide valuation allowances if it is determined to be 201cmore likely than not 201d that the deferred tax benefit will not be realized .', 'federal income taxes are provided on the portion of the income of foreign subsidiaries that is expected to be remitted to the u.s .', 'we operate within numerous taxing jurisdictions .', 'we are subject to regulatory review or audit in virtually all of those jurisdictions and those reviews and audits may require extended periods of time to resolve .', 'we make use of all available information and make reasoned judgments regarding matters requiring interpretation in establishing tax expense , liabilities and reserves .', 'we believe adequate provisions exist for income taxes for all periods and jurisdictions subject to review or audit .', 'commitments and contingencies 2013 accruals for product liability and other claims are established with internal and external legal counsel based on current information and historical settlement information for claims , related fees and for claims incurred but not reported .', 'we use an actuarial model to assist management in determining an appropriate level of accruals for product liability claims .', 'historical patterns of claim loss development over time are statistically analyzed to arrive at factors which are then applied to loss estimates in the actuarial model .', 'the amounts established equate to less than 5 percent of total liabilities and represent management 2019s best estimate of the ultimate costs that we will incur under the various contingencies .', 'goodwill and intangible assets 2013 we evaluate the carrying value of goodwill and indefinite life intangible assets annually , or whenever events or circumstances indicate the carrying value may not be recoverable .', 'we evaluate the carrying value of finite life intangible assets whenever events or circumstances indicate the carrying value may not be recoverable .', 'significant assumptions are required to estimate the fair value of goodwill and intangible assets , most notably estimated future cash flows generated by these assets .', 'as such , these fair valuation measurements use significant unobservable inputs as defined under statement of financial accounting standards no .', '157 , fair value measurements .', 'changes to these assumptions could require us to record impairment charges on these assets .', 'share-based payment 2013 we account for share-based payment expense in accordance with the fair value z i m m e r h o l d i n g s , i n c .', '2 0 0 7 f o r m 1 0 - k a n n u a l r e p o r t .'] | ****************************************
contractual obligations | total | 2008 | 2009 and 2010 | 2011 and 2012 | 2013 and thereafter
----------|----------|----------|----------|----------|----------
long-term debt | $ 104.3 | $ 2013 | $ 2013 | $ 104.3 | $ 2013
operating leases | 134.3 | 35.4 | 50.0 | 28.6 | 20.3
purchase obligations | 24.6 | 23.2 | 1.4 | 2013 | 2013
long-term income taxes payable | 137.0 | 2013 | 57.7 | 53.9 | 25.4
other long-term liabilities | 191.4 | 2013 | 47.3 | 17.1 | 127.0
total contractual obligations | $ 591.6 | $ 58.6 | $ 156.4 | $ 203.9 | $ 172.7
**************************************** | divide(104.3, 591.6) | 0.1763 |
what is the growth rate in net revenue in 2007 compare to 2006 for entergy new orleans , inc.? | Background: ['entergy new orleans , inc .', "management's financial discussion and analysis 2007 compared to 2006 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges .", 'following is an analysis of the change in net revenue comparing 2007 to 2006 .', 'amount ( in millions ) .']
------
Tabular Data:
========================================
amount ( in millions )
2006 net revenue $ 192.2
fuel recovery 42.6
volume/weather 25.6
rider revenue 8.5
net wholesale revenue -41.2 ( 41.2 )
other 3.3
2007 net revenue $ 231.0
========================================
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Post-table: ['the fuel recovery variance is due to the inclusion of grand gulf costs in 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 volume/weather variance is due to an increase in electricity usage in the service territory in 2007 compared to the same period in 2006 .', 'the first quarter 2006 was affected by customer losses following hurricane katrina .', 'entergy new orleans estimates that approximately 132000 electric customers and 86000 gas customers have returned and are taking service as of december 31 , 2007 , compared to approximately 95000 electric customers and 65000 gas customers as of december 31 , 2006 .', 'billed retail electricity usage increased a total of 540 gwh compared to the same period in 2006 , an increase of 14% ( 14 % ) .', "the rider revenue variance is due primarily to a storm reserve rider effective march 2007 as a result of the city council's approval of a settlement agreement in october 2006 .", 'the approved storm reserve has been set to collect $ 75 million over a ten-year period through the rider and the funds will be held in a restricted escrow account .', 'the settlement agreement is discussed in note 2 to the financial statements .', 'the net wholesale revenue variance is due to more energy available for resale in 2006 due to the decrease in retail usage caused by customer losses following hurricane katrina .', "in addition , 2006 revenue includes the 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 other income statement variances 2008 compared to 2007 other operation and maintenance expenses decreased primarily due to : a provision for storm-related bad debts of $ 11 million recorded in 2007 ; a decrease of $ 6.2 million in legal and professional fees ; a decrease of $ 3.4 million in employee benefit expenses ; and a decrease of $ 1.9 million in gas operations spending due to higher labor and material costs for reliability work in 2007. ."] | 0.20187 | ETR/2008/page_356.pdf-3 | ['entergy new orleans , inc .', "management's financial discussion and analysis 2007 compared to 2006 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges .", 'following is an analysis of the change in net revenue comparing 2007 to 2006 .', 'amount ( in millions ) .'] | ['the fuel recovery variance is due to the inclusion of grand gulf costs in 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 volume/weather variance is due to an increase in electricity usage in the service territory in 2007 compared to the same period in 2006 .', 'the first quarter 2006 was affected by customer losses following hurricane katrina .', 'entergy new orleans estimates that approximately 132000 electric customers and 86000 gas customers have returned and are taking service as of december 31 , 2007 , compared to approximately 95000 electric customers and 65000 gas customers as of december 31 , 2006 .', 'billed retail electricity usage increased a total of 540 gwh compared to the same period in 2006 , an increase of 14% ( 14 % ) .', "the rider revenue variance is due primarily to a storm reserve rider effective march 2007 as a result of the city council's approval of a settlement agreement in october 2006 .", 'the approved storm reserve has been set to collect $ 75 million over a ten-year period through the rider and the funds will be held in a restricted escrow account .', 'the settlement agreement is discussed in note 2 to the financial statements .', 'the net wholesale revenue variance is due to more energy available for resale in 2006 due to the decrease in retail usage caused by customer losses following hurricane katrina .', "in addition , 2006 revenue includes the 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 other income statement variances 2008 compared to 2007 other operation and maintenance expenses decreased primarily due to : a provision for storm-related bad debts of $ 11 million recorded in 2007 ; a decrease of $ 6.2 million in legal and professional fees ; a decrease of $ 3.4 million in employee benefit expenses ; and a decrease of $ 1.9 million in gas operations spending due to higher labor and material costs for reliability work in 2007. ."] | ========================================
amount ( in millions )
2006 net revenue $ 192.2
fuel recovery 42.6
volume/weather 25.6
rider revenue 8.5
net wholesale revenue -41.2 ( 41.2 )
other 3.3
2007 net revenue $ 231.0
======================================== | subtract(231.0, 192.2), divide(#0, 192.2) | 0.20187 |
what percentage of total estimated future contingent acquisition obligations payable in cash occurred in 2015? | Pre-text: ['notes to consolidated financial statements 2013 ( continued ) ( amounts in millions , except per share amounts ) guarantees we have guaranteed certain obligations of our subsidiaries relating principally to operating leases and credit facilities of certain subsidiaries .', 'the amount of parent company guarantees on lease obligations was $ 410.3 and $ 385.1 as of december 31 , 2012 and 2011 , respectively , and the amount of parent company guarantees primarily relating to credit facilities was $ 283.4 and $ 327.5 as of december 31 , 2012 and 2011 , respectively .', 'in the event of non-payment by the applicable subsidiary of the obligations covered by a guarantee , we would be obligated to pay the amounts covered by that guarantee .', 'as of december 31 , 2012 , there were no material assets pledged as security for such parent company guarantees .', 'contingent acquisition obligations the following table details the estimated future contingent acquisition obligations payable in cash as of december 31 .']
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Table:
========================================
| 2013 | 2014 | 2015 | 2016 | 2017 | thereafter | total
deferred acquisition payments | $ 26.0 | $ 12.4 | $ 9.7 | $ 46.4 | $ 18.9 | $ 2.0 | $ 115.4
redeemable noncontrolling interests and call options with affiliates1 | 20.5 | 43.8 | 32.9 | 5.7 | 2.2 | 10.6 | 115.7
total contingent acquisition payments | 46.5 | 56.2 | 42.6 | 52.1 | 21.1 | 12.6 | 231.1
less : cash compensation expense included above | -0.7 ( 0.7 ) | -0.6 ( 0.6 ) | -0.8 ( 0.8 ) | -0.2 ( 0.2 ) | 0.0 | 0.0 | -2.3 ( 2.3 )
total | $ 45.8 | $ 55.6 | $ 41.8 | $ 51.9 | $ 21.1 | $ 12.6 | $ 228.8
========================================
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Additional Information: ['1 we have entered into certain acquisitions that contain both redeemable noncontrolling interests and call options with similar terms and conditions .', 'we have certain redeemable noncontrolling interests that are exercisable at the discretion of the noncontrolling equity owners as of december 31 , 2012 .', 'these estimated payments of $ 16.4 are included within the total payments expected to be made in 2013 , and will continue to be carried forward into 2014 or beyond until exercised or expired .', 'redeemable noncontrolling interests are included in the table at current exercise price payable in cash , not at applicable redemption value in accordance with the authoritative guidance for classification and measurement of redeemable securities .', 'the estimated amounts listed would be paid in the event of exercise at the earliest exercise date .', 'see note 6 for further information relating to the payment structure of our acquisitions .', 'all payments are contingent upon achieving projected operating performance targets and satisfying other conditions specified in the related agreements and are subject to revisions as the earn-out periods progress .', 'legal matters we are involved in various legal proceedings , and subject to investigations , inspections , audits , inquiries and similar actions by governmental authorities , arising in the normal course of business .', 'we evaluate all cases each reporting period and record liabilities for losses from legal proceedings when we determine that it is probable that the outcome in a legal proceeding will be unfavorable and the amount , or potential range , of loss can be reasonably estimated .', 'in certain cases , we cannot reasonably estimate the potential loss because , for example , the litigation is in its early stages .', 'while any outcome related to litigation or such governmental proceedings in which we are involved cannot be predicted with certainty , management believes that the outcome of these matters , individually and in the aggregate , will not have a material adverse effect on our financial condition , results of operations or cash flows .', 'note 15 : recent accounting standards impairment of indefinite-lived intangible assets in july 2012 , the financial accounting standards board ( 201cfasb 201d ) issued amended guidance to simplify impairment testing of indefinite-lived intangible assets other than goodwill .', 'the amended guidance permits an entity to first assess qualitative factors to determine whether it is 201cmore likely than not 201d that the indefinite-lived intangible asset is impaired .', 'if , after assessing qualitative factors , an entity concludes that it is not 201cmore likely than not 201d that the indefinite-lived intangible .'] | 18.26923 | IPG/2012/page_89.pdf-4 | ['notes to consolidated financial statements 2013 ( continued ) ( amounts in millions , except per share amounts ) guarantees we have guaranteed certain obligations of our subsidiaries relating principally to operating leases and credit facilities of certain subsidiaries .', 'the amount of parent company guarantees on lease obligations was $ 410.3 and $ 385.1 as of december 31 , 2012 and 2011 , respectively , and the amount of parent company guarantees primarily relating to credit facilities was $ 283.4 and $ 327.5 as of december 31 , 2012 and 2011 , respectively .', 'in the event of non-payment by the applicable subsidiary of the obligations covered by a guarantee , we would be obligated to pay the amounts covered by that guarantee .', 'as of december 31 , 2012 , there were no material assets pledged as security for such parent company guarantees .', 'contingent acquisition obligations the following table details the estimated future contingent acquisition obligations payable in cash as of december 31 .'] | ['1 we have entered into certain acquisitions that contain both redeemable noncontrolling interests and call options with similar terms and conditions .', 'we have certain redeemable noncontrolling interests that are exercisable at the discretion of the noncontrolling equity owners as of december 31 , 2012 .', 'these estimated payments of $ 16.4 are included within the total payments expected to be made in 2013 , and will continue to be carried forward into 2014 or beyond until exercised or expired .', 'redeemable noncontrolling interests are included in the table at current exercise price payable in cash , not at applicable redemption value in accordance with the authoritative guidance for classification and measurement of redeemable securities .', 'the estimated amounts listed would be paid in the event of exercise at the earliest exercise date .', 'see note 6 for further information relating to the payment structure of our acquisitions .', 'all payments are contingent upon achieving projected operating performance targets and satisfying other conditions specified in the related agreements and are subject to revisions as the earn-out periods progress .', 'legal matters we are involved in various legal proceedings , and subject to investigations , inspections , audits , inquiries and similar actions by governmental authorities , arising in the normal course of business .', 'we evaluate all cases each reporting period and record liabilities for losses from legal proceedings when we determine that it is probable that the outcome in a legal proceeding will be unfavorable and the amount , or potential range , of loss can be reasonably estimated .', 'in certain cases , we cannot reasonably estimate the potential loss because , for example , the litigation is in its early stages .', 'while any outcome related to litigation or such governmental proceedings in which we are involved cannot be predicted with certainty , management believes that the outcome of these matters , individually and in the aggregate , will not have a material adverse effect on our financial condition , results of operations or cash flows .', 'note 15 : recent accounting standards impairment of indefinite-lived intangible assets in july 2012 , the financial accounting standards board ( 201cfasb 201d ) issued amended guidance to simplify impairment testing of indefinite-lived intangible assets other than goodwill .', 'the amended guidance permits an entity to first assess qualitative factors to determine whether it is 201cmore likely than not 201d that the indefinite-lived intangible asset is impaired .', 'if , after assessing qualitative factors , an entity concludes that it is not 201cmore likely than not 201d that the indefinite-lived intangible .'] | ========================================
| 2013 | 2014 | 2015 | 2016 | 2017 | thereafter | total
deferred acquisition payments | $ 26.0 | $ 12.4 | $ 9.7 | $ 46.4 | $ 18.9 | $ 2.0 | $ 115.4
redeemable noncontrolling interests and call options with affiliates1 | 20.5 | 43.8 | 32.9 | 5.7 | 2.2 | 10.6 | 115.7
total contingent acquisition payments | 46.5 | 56.2 | 42.6 | 52.1 | 21.1 | 12.6 | 231.1
less : cash compensation expense included above | -0.7 ( 0.7 ) | -0.6 ( 0.6 ) | -0.8 ( 0.8 ) | -0.2 ( 0.2 ) | 0.0 | 0.0 | -2.3 ( 2.3 )
total | $ 45.8 | $ 55.6 | $ 41.8 | $ 51.9 | $ 21.1 | $ 12.6 | $ 228.8
======================================== | divide(41.8, 228.8), multiply(#0, const_100) | 18.26923 |
what percentage of future minimum rental payments are due in 2018? | Context: ['the goldman sachs group , inc .', 'and subsidiaries notes to consolidated financial statements commercial lending .', 'the firm 2019s commercial lending commitments are extended to investment-grade and non- investment-grade corporate borrowers .', 'commitments to investment-grade corporate borrowers are principally used for operating liquidity and general corporate purposes .', 'the firm also extends lending commitments in connection with contingent acquisition financing and other types of corporate lending as well as commercial real estate financing .', 'commitments that are extended for contingent acquisition financing are often intended to be short-term in nature , as borrowers often seek to replace them with other funding sources .', 'sumitomo mitsui financial group , inc .', '( smfg ) provides the firm with credit loss protection on certain approved loan commitments ( primarily investment-grade commercial lending commitments ) .', 'the notional amount of such loan commitments was $ 26.88 billion and $ 27.03 billion as of december 2016 and december 2015 , respectively .', 'the credit loss protection on loan commitments provided by smfg is generally limited to 95% ( 95 % ) of the first loss the firm realizes on such commitments , up to a maximum of approximately $ 950 million .', 'in addition , subject to the satisfaction of certain conditions , upon the firm 2019s request , smfg will provide protection for 70% ( 70 % ) of additional losses on such commitments , up to a maximum of $ 1.13 billion , of which $ 768 million of protection had been provided as of both december 2016 and december 2015 .', 'the firm also uses other financial instruments to mitigate credit risks related to certain commitments not covered by smfg .', 'these instruments primarily include credit default swaps that reference the same or similar underlying instrument or entity , or credit default swaps that reference a market index .', 'warehouse financing .', 'the firm provides financing to clients who warehouse financial assets .', 'these arrangements are secured by the warehoused assets , primarily consisting of consumer and corporate loans .', 'contingent and forward starting resale and securities borrowing agreements/forward starting repurchase and secured lending agreements the firm enters into resale and securities borrowing agreements and repurchase and secured lending agreements that settle at a future date , generally within three business days .', 'the firm also enters into commitments to provide contingent financing to its clients and counterparties through resale agreements .', 'the firm 2019s funding of these commitments depends on the satisfaction of all contractual conditions to the resale agreement and these commitments can expire unused .', 'letters of credit the firm has commitments under letters of credit issued by various banks which the firm provides to counterparties in lieu of securities or cash to satisfy various collateral and margin deposit requirements .', 'investment commitments the firm 2019s investment commitments include commitments to invest in private equity , real estate and other assets directly and through funds that the firm raises and manages .', 'investment commitments include $ 2.10 billion and $ 2.86 billion as of december 2016 and december 2015 , respectively , related to commitments to invest in funds managed by the firm .', 'if these commitments are called , they would be funded at market value on the date of investment .', 'leases the firm has contractual obligations under long-term noncancelable lease agreements for office space expiring on various dates through 2069 .', 'certain agreements are subject to periodic escalation provisions for increases in real estate taxes and other charges .', 'the table below presents future minimum rental payments , net of minimum sublease rentals .', '$ in millions december 2016 .']
########
Tabular Data:
Row 1: $ in millions, as of december 2016
Row 2: 2017, $ 290
Row 3: 2018, 282
Row 4: 2019, 238
Row 5: 2020, 206
Row 6: 2021, 159
Row 7: 2022 - thereafter, 766
Row 8: total, $ 1941
########
Post-table: ['rent charged to operating expense was $ 244 million for 2016 , $ 249 million for 2015 and $ 309 million for 2014 .', 'operating leases include office space held in excess of current requirements .', 'rent expense relating to space held for growth is included in 201coccupancy . 201d the firm records a liability , based on the fair value of the remaining lease rentals reduced by any potential or existing sublease rentals , for leases where the firm has ceased using the space and management has concluded that the firm will not derive any future economic benefits .', 'costs to terminate a lease before the end of its term are recognized and measured at fair value on termination .', 'during 2016 , the firm incurred exit costs of approximately $ 68 million related to excess office space .', 'goldman sachs 2016 form 10-k 169 .'] | 0.14529 | GS/2016/page_183.pdf-3 | ['the goldman sachs group , inc .', 'and subsidiaries notes to consolidated financial statements commercial lending .', 'the firm 2019s commercial lending commitments are extended to investment-grade and non- investment-grade corporate borrowers .', 'commitments to investment-grade corporate borrowers are principally used for operating liquidity and general corporate purposes .', 'the firm also extends lending commitments in connection with contingent acquisition financing and other types of corporate lending as well as commercial real estate financing .', 'commitments that are extended for contingent acquisition financing are often intended to be short-term in nature , as borrowers often seek to replace them with other funding sources .', 'sumitomo mitsui financial group , inc .', '( smfg ) provides the firm with credit loss protection on certain approved loan commitments ( primarily investment-grade commercial lending commitments ) .', 'the notional amount of such loan commitments was $ 26.88 billion and $ 27.03 billion as of december 2016 and december 2015 , respectively .', 'the credit loss protection on loan commitments provided by smfg is generally limited to 95% ( 95 % ) of the first loss the firm realizes on such commitments , up to a maximum of approximately $ 950 million .', 'in addition , subject to the satisfaction of certain conditions , upon the firm 2019s request , smfg will provide protection for 70% ( 70 % ) of additional losses on such commitments , up to a maximum of $ 1.13 billion , of which $ 768 million of protection had been provided as of both december 2016 and december 2015 .', 'the firm also uses other financial instruments to mitigate credit risks related to certain commitments not covered by smfg .', 'these instruments primarily include credit default swaps that reference the same or similar underlying instrument or entity , or credit default swaps that reference a market index .', 'warehouse financing .', 'the firm provides financing to clients who warehouse financial assets .', 'these arrangements are secured by the warehoused assets , primarily consisting of consumer and corporate loans .', 'contingent and forward starting resale and securities borrowing agreements/forward starting repurchase and secured lending agreements the firm enters into resale and securities borrowing agreements and repurchase and secured lending agreements that settle at a future date , generally within three business days .', 'the firm also enters into commitments to provide contingent financing to its clients and counterparties through resale agreements .', 'the firm 2019s funding of these commitments depends on the satisfaction of all contractual conditions to the resale agreement and these commitments can expire unused .', 'letters of credit the firm has commitments under letters of credit issued by various banks which the firm provides to counterparties in lieu of securities or cash to satisfy various collateral and margin deposit requirements .', 'investment commitments the firm 2019s investment commitments include commitments to invest in private equity , real estate and other assets directly and through funds that the firm raises and manages .', 'investment commitments include $ 2.10 billion and $ 2.86 billion as of december 2016 and december 2015 , respectively , related to commitments to invest in funds managed by the firm .', 'if these commitments are called , they would be funded at market value on the date of investment .', 'leases the firm has contractual obligations under long-term noncancelable lease agreements for office space expiring on various dates through 2069 .', 'certain agreements are subject to periodic escalation provisions for increases in real estate taxes and other charges .', 'the table below presents future minimum rental payments , net of minimum sublease rentals .', '$ in millions december 2016 .'] | ['rent charged to operating expense was $ 244 million for 2016 , $ 249 million for 2015 and $ 309 million for 2014 .', 'operating leases include office space held in excess of current requirements .', 'rent expense relating to space held for growth is included in 201coccupancy . 201d the firm records a liability , based on the fair value of the remaining lease rentals reduced by any potential or existing sublease rentals , for leases where the firm has ceased using the space and management has concluded that the firm will not derive any future economic benefits .', 'costs to terminate a lease before the end of its term are recognized and measured at fair value on termination .', 'during 2016 , the firm incurred exit costs of approximately $ 68 million related to excess office space .', 'goldman sachs 2016 form 10-k 169 .'] | Row 1: $ in millions, as of december 2016
Row 2: 2017, $ 290
Row 3: 2018, 282
Row 4: 2019, 238
Row 5: 2020, 206
Row 6: 2021, 159
Row 7: 2022 - thereafter, 766
Row 8: total, $ 1941 | divide(282, 1941) | 0.14529 |
what percentage of total capital expenditures were related to general structure and equipment in 2018? | Background: ['the following table provides a summary of our historical capital expenditures related to the upgrading of our infrastructure and systems: .']
##
Tabular Data:
Row 1: ( in millions ), for the years ended december 31 , 2018, for the years ended december 31 , 2017, for the years ended december 31 , 2016
Row 2: transmission and distribution, $ 572, $ 551, $ 568
Row 3: treatment and pumping, 231, 171, 151
Row 4: services meter and fire hydrants, 303, 281, 297
Row 5: general structure and equipment, 371, 281, 202
Row 6: sources of supply, 26, 54, 59
Row 7: wastewater, 83, 96, 34
Row 8: total capital expenditures, $ 1586, $ 1434, $ 1311
##
Follow-up: ['in 2018 , our capital expenditures increased $ 152 million , or 10.6% ( 10.6 % ) , primarily due to investment across the majority of our infrastructure categories .', 'in 2017 , our capital expenditures increased $ 123 million , or 9.4% ( 9.4 % ) , primarily due to investment in our general structure and equipment and wastewater categories .', 'we also grow our business primarily through acquisitions of water and wastewater systems , as well as other water-related services .', 'these acquisitions are complementary to our existing business and support continued geographical diversification and growth of our operations .', 'generally , acquisitions are funded initially with short- term debt , and later refinanced with the proceeds from long-term debt .', 'the following is a summary of the acquisitions and dispositions affecting our cash flows from investing activities : 2022 the majority of cash paid for acquisitions pertained to the $ 365 million purchase of pivotal within our homeowner services group .', '2022 paid $ 33 million for 15 water and wastewater systems , representing approximately 14000 customers .', '2022 received $ 35 million for the sale of assets , including $ 27 million for the sale of the majority of the o&m contracts in our contract services group during the third quarter of 2018 .', '2022 the majority of cash paid for acquisitions pertained to the $ 159 million purchase of the wastewater collection and treatment system assets of the municipal authority of the city of mckeesport , pennsylvania ( the 201cmckeesport system 201d ) , excluding a $ 5 million non-escrowed deposit made in 2016 .', '2022 paid $ 18 million for 16 water and wastewater systems , excluding the mckeesport system and shorelands ( a stock-for-stock transaction ) , representing approximately 7000 customers .', '2022 received $ 15 million for the sale of assets .', '2022 paid $ 199 million for 15 water and wastewater systems , representing approximately 42000 customers .', '2022 made a non-escrowed deposit of $ 5 million related to the mckeesport system acquisition .', '2022 received $ 9 million for the sale of assets .', 'as previously noted , we expect to invest between $ 8.0 billion to $ 8.6 billion from 2019 to 2023 , with $ 7.3 billion of this range for infrastructure improvements in our regulated businesses .', 'in 2019 , we expect to .'] | 0.23392 | AWK/2018/page_98.pdf-2 | ['the following table provides a summary of our historical capital expenditures related to the upgrading of our infrastructure and systems: .'] | ['in 2018 , our capital expenditures increased $ 152 million , or 10.6% ( 10.6 % ) , primarily due to investment across the majority of our infrastructure categories .', 'in 2017 , our capital expenditures increased $ 123 million , or 9.4% ( 9.4 % ) , primarily due to investment in our general structure and equipment and wastewater categories .', 'we also grow our business primarily through acquisitions of water and wastewater systems , as well as other water-related services .', 'these acquisitions are complementary to our existing business and support continued geographical diversification and growth of our operations .', 'generally , acquisitions are funded initially with short- term debt , and later refinanced with the proceeds from long-term debt .', 'the following is a summary of the acquisitions and dispositions affecting our cash flows from investing activities : 2022 the majority of cash paid for acquisitions pertained to the $ 365 million purchase of pivotal within our homeowner services group .', '2022 paid $ 33 million for 15 water and wastewater systems , representing approximately 14000 customers .', '2022 received $ 35 million for the sale of assets , including $ 27 million for the sale of the majority of the o&m contracts in our contract services group during the third quarter of 2018 .', '2022 the majority of cash paid for acquisitions pertained to the $ 159 million purchase of the wastewater collection and treatment system assets of the municipal authority of the city of mckeesport , pennsylvania ( the 201cmckeesport system 201d ) , excluding a $ 5 million non-escrowed deposit made in 2016 .', '2022 paid $ 18 million for 16 water and wastewater systems , excluding the mckeesport system and shorelands ( a stock-for-stock transaction ) , representing approximately 7000 customers .', '2022 received $ 15 million for the sale of assets .', '2022 paid $ 199 million for 15 water and wastewater systems , representing approximately 42000 customers .', '2022 made a non-escrowed deposit of $ 5 million related to the mckeesport system acquisition .', '2022 received $ 9 million for the sale of assets .', 'as previously noted , we expect to invest between $ 8.0 billion to $ 8.6 billion from 2019 to 2023 , with $ 7.3 billion of this range for infrastructure improvements in our regulated businesses .', 'in 2019 , we expect to .'] | Row 1: ( in millions ), for the years ended december 31 , 2018, for the years ended december 31 , 2017, for the years ended december 31 , 2016
Row 2: transmission and distribution, $ 572, $ 551, $ 568
Row 3: treatment and pumping, 231, 171, 151
Row 4: services meter and fire hydrants, 303, 281, 297
Row 5: general structure and equipment, 371, 281, 202
Row 6: sources of supply, 26, 54, 59
Row 7: wastewater, 83, 96, 34
Row 8: total capital expenditures, $ 1586, $ 1434, $ 1311 | divide(371, 1586) | 0.23392 |
what is the percentage decrease between the amounts expensed for deferred compensation and deferred benefit liability in 2017 and 2018? | Background: ['notes to consolidated financial statements 2013 ( continued ) ( amounts in millions , except per share amounts ) the estimated future benefit payments expected to be paid are presented below .', 'domestic pension plan foreign pension plans domestic postretirement benefit plan .']
----------
Data Table:
Row 1: years, domesticpension plan, foreignpension plans, domestic postretirementbenefit plan
Row 2: 2019, $ 14.5, $ 21.7, $ 3.0
Row 3: 2020, 8.8, 18.7, 2.8
Row 4: 2021, 8.0, 19.8, 2.6
Row 5: 2022, 8.3, 20.9, 2.4
Row 6: 2023, 7.8, 21.8, 2.2
Row 7: 2024 - 2028, 36.7, 117.2, 9.8
----------
Additional Information: ['the estimated future payments for our domestic postretirement benefit plan are net of any estimated u.s .', 'federal subsidies expected to be received under the medicare prescription drug , improvement and modernization act of 2003 , which total no more than $ 0.3 in any individual year .', 'savings plans we sponsor defined contribution plans ( the 201csavings plans 201d ) that cover substantially all domestic employees .', 'the savings plans permit participants to make contributions on a pre-tax and/or after-tax basis and allow participants to choose among various investment alternatives .', 'we match a portion of participant contributions based upon their years of service .', 'amounts expensed for the savings plans for 2018 , 2017 and 2016 were $ 52.6 , $ 47.2 and $ 47.0 , respectively .', 'expenses include a discretionary company contribution of $ 6.7 , $ 3.6 and $ 6.1 offset by participant forfeitures of $ 5.8 , $ 4.6 and $ 4.4 in 2018 , 2017 and 2016 , respectively .', 'in addition , we maintain defined contribution plans in various foreign countries and contributed $ 51.3 , $ 47.4 and $ 44.5 to these plans in 2018 , 2017 and 2016 , respectively .', 'deferred compensation and benefit arrangements we have deferred compensation and benefit arrangements which ( i ) permit certain of our key officers and employees to defer a portion of their salary or incentive compensation or ( ii ) require us to contribute an amount to the participant 2019s account .', 'these arrangements may provide participants with the amounts deferred plus interest upon attaining certain conditions , such as completing a certain number of years of service , attaining a certain age or upon retirement or termination .', 'as of december 31 , 2018 and 2017 , the deferred compensation and deferred benefit liability balance was $ 196.2 and $ 213.2 , respectively .', 'amounts expensed for deferred compensation and benefit arrangements in 2018 , 2017 and 2016 were $ 10.0 , $ 18.5 and $ 18.5 , respectively .', 'we have purchased life insurance policies on participants 2019 lives to assist in the funding of the related deferred compensation and deferred benefit liabilities .', 'as of december 31 , 2018 and 2017 , the cash surrender value of these policies was $ 177.3 and $ 177.4 , respectively .', 'long-term disability plan we have a long-term disability plan which provides income replacement benefits to eligible participants who are unable to perform their job duties or any job related to his or her education , training or experience .', 'as all income replacement benefits are fully insured , no related obligation is required as of december 31 , 2018 and 2017 .', 'in addition to income replacement benefits , plan participants may remain covered for certain health and life insurance benefits up to normal retirement age , and accordingly , we have recorded an obligation of $ 5.9 and $ 8.4 as of december 31 , 2018 and 2017 , respectively. .'] | 7.97373 | IPG/2018/page_100.pdf-3 | ['notes to consolidated financial statements 2013 ( continued ) ( amounts in millions , except per share amounts ) the estimated future benefit payments expected to be paid are presented below .', 'domestic pension plan foreign pension plans domestic postretirement benefit plan .'] | ['the estimated future payments for our domestic postretirement benefit plan are net of any estimated u.s .', 'federal subsidies expected to be received under the medicare prescription drug , improvement and modernization act of 2003 , which total no more than $ 0.3 in any individual year .', 'savings plans we sponsor defined contribution plans ( the 201csavings plans 201d ) that cover substantially all domestic employees .', 'the savings plans permit participants to make contributions on a pre-tax and/or after-tax basis and allow participants to choose among various investment alternatives .', 'we match a portion of participant contributions based upon their years of service .', 'amounts expensed for the savings plans for 2018 , 2017 and 2016 were $ 52.6 , $ 47.2 and $ 47.0 , respectively .', 'expenses include a discretionary company contribution of $ 6.7 , $ 3.6 and $ 6.1 offset by participant forfeitures of $ 5.8 , $ 4.6 and $ 4.4 in 2018 , 2017 and 2016 , respectively .', 'in addition , we maintain defined contribution plans in various foreign countries and contributed $ 51.3 , $ 47.4 and $ 44.5 to these plans in 2018 , 2017 and 2016 , respectively .', 'deferred compensation and benefit arrangements we have deferred compensation and benefit arrangements which ( i ) permit certain of our key officers and employees to defer a portion of their salary or incentive compensation or ( ii ) require us to contribute an amount to the participant 2019s account .', 'these arrangements may provide participants with the amounts deferred plus interest upon attaining certain conditions , such as completing a certain number of years of service , attaining a certain age or upon retirement or termination .', 'as of december 31 , 2018 and 2017 , the deferred compensation and deferred benefit liability balance was $ 196.2 and $ 213.2 , respectively .', 'amounts expensed for deferred compensation and benefit arrangements in 2018 , 2017 and 2016 were $ 10.0 , $ 18.5 and $ 18.5 , respectively .', 'we have purchased life insurance policies on participants 2019 lives to assist in the funding of the related deferred compensation and deferred benefit liabilities .', 'as of december 31 , 2018 and 2017 , the cash surrender value of these policies was $ 177.3 and $ 177.4 , respectively .', 'long-term disability plan we have a long-term disability plan which provides income replacement benefits to eligible participants who are unable to perform their job duties or any job related to his or her education , training or experience .', 'as all income replacement benefits are fully insured , no related obligation is required as of december 31 , 2018 and 2017 .', 'in addition to income replacement benefits , plan participants may remain covered for certain health and life insurance benefits up to normal retirement age , and accordingly , we have recorded an obligation of $ 5.9 and $ 8.4 as of december 31 , 2018 and 2017 , respectively. .'] | Row 1: years, domesticpension plan, foreignpension plans, domestic postretirementbenefit plan
Row 2: 2019, $ 14.5, $ 21.7, $ 3.0
Row 3: 2020, 8.8, 18.7, 2.8
Row 4: 2021, 8.0, 19.8, 2.6
Row 5: 2022, 8.3, 20.9, 2.4
Row 6: 2023, 7.8, 21.8, 2.2
Row 7: 2024 - 2028, 36.7, 117.2, 9.8 | subtract(213.2, 196.2), divide(#0, 213.2), multiply(#1, const_100) | 7.97373 |
what is the total value of vested shares during the fiscal year ended march 31 , 2012 , in millions? | Background: ['abiomed , inc .', 'and subsidiaries notes to consolidated financial statements 2014 ( continued ) note 8 .', 'stock award plans and stock-based compensation ( continued ) restricted stock and restricted stock units the following table summarizes restricted stock and restricted stock unit activity for the fiscal year ended march 31 , 2012 : number of shares ( in thousands ) weighted average grant date fair value ( per share ) .']
##
Data Table:
, number of shares ( in thousands ), weighted average grant date fair value ( per share )
restricted stock and restricted stock units at beginning of year, 407, $ 9.84
granted, 607, 18.13
vested, -134 ( 134 ), 10.88
forfeited, -9 ( 9 ), 13.72
restricted stock and restricted stock units at end of year, 871, $ 15.76
##
Post-table: ['the remaining unrecognized compensation expense for outstanding restricted stock and restricted stock units , including performance-based awards , as of march 31 , 2012 was $ 7.1 million and the weighted-average period over which this cost will be recognized is 2.2 years .', 'the weighted average grant-date fair value for restricted stock and restricted stock units granted during the years ended march 31 , 2012 , 2011 , and 2010 was $ 18.13 , $ 10.00 and $ 7.67 per share , respectively .', 'the total fair value of restricted stock and restricted stock units vested in fiscal years 2012 , 2011 , and 2010 was $ 1.5 million , $ 1.0 million and $ 0.4 million , respectively .', 'performance-based awards included in the restricted stock and restricted stock units activity discussed above are certain awards granted in fiscal years 2012 , 2011 and 2010 that vest subject to certain performance-based criteria .', 'in june 2010 , 311000 shares of restricted stock and a performance-based award for the potential issuance of 45000 shares of common stock were issued to certain executive officers and members of senior management of the company , all of which would vest upon achievement of prescribed service milestones by the award recipients and performance milestones by the company .', 'during the year ended march 31 , 2011 , the company determined that it met the prescribed performance targets and a portion of these shares and stock options vested .', 'the remaining shares will vest upon satisfaction of prescribed service conditions by the award recipients .', 'during the three months ended june 30 , 2011 , the company determined that it should have been using the graded vesting method instead of the straight-line method to expense stock-based compensation for the performance-based awards issued in june 2010 .', 'this resulted in additional stock based compensation expense of approximately $ 0.6 million being recorded during the three months ended june 30 , 2011 that should have been recorded during the year ended march 31 , 2011 .', 'the company believes that the amount is not material to its march 31 , 2011 consolidated financial statements and therefore recorded the adjustment in the quarter ended june 30 , 2011 .', 'during the three months ended june 30 , 2011 , performance-based awards of restricted stock units for the potential issuance of 284000 shares of common stock were issued to certain executive officers and members of the senior management , all of which would vest upon achievement of prescribed service milestones by the award recipients and revenue performance milestones by the company .', 'as of march 31 , 2012 , the company determined that it met the prescribed targets for 184000 shares underlying these awards and it believes it is probable that the prescribed performance targets will be met for the remaining 100000 shares , and the compensation expense is being recognized accordingly .', 'during the year ended march 31 , 2012 , the company has recorded $ 3.3 million in stock-based compensation expense for equity awards in which the prescribed performance milestones have been achieved or are probable of being achieved .', 'the remaining unrecognized compensation expense related to these equity awards at march 31 , 2012 is $ 3.6 million based on the company 2019s current assessment of probability of achieving the performance milestones .', 'the weighted-average period over which this cost will be recognized is 2.1 years. .'] | 1.45792 | ABMD/2012/page_75.pdf-4 | ['abiomed , inc .', 'and subsidiaries notes to consolidated financial statements 2014 ( continued ) note 8 .', 'stock award plans and stock-based compensation ( continued ) restricted stock and restricted stock units the following table summarizes restricted stock and restricted stock unit activity for the fiscal year ended march 31 , 2012 : number of shares ( in thousands ) weighted average grant date fair value ( per share ) .'] | ['the remaining unrecognized compensation expense for outstanding restricted stock and restricted stock units , including performance-based awards , as of march 31 , 2012 was $ 7.1 million and the weighted-average period over which this cost will be recognized is 2.2 years .', 'the weighted average grant-date fair value for restricted stock and restricted stock units granted during the years ended march 31 , 2012 , 2011 , and 2010 was $ 18.13 , $ 10.00 and $ 7.67 per share , respectively .', 'the total fair value of restricted stock and restricted stock units vested in fiscal years 2012 , 2011 , and 2010 was $ 1.5 million , $ 1.0 million and $ 0.4 million , respectively .', 'performance-based awards included in the restricted stock and restricted stock units activity discussed above are certain awards granted in fiscal years 2012 , 2011 and 2010 that vest subject to certain performance-based criteria .', 'in june 2010 , 311000 shares of restricted stock and a performance-based award for the potential issuance of 45000 shares of common stock were issued to certain executive officers and members of senior management of the company , all of which would vest upon achievement of prescribed service milestones by the award recipients and performance milestones by the company .', 'during the year ended march 31 , 2011 , the company determined that it met the prescribed performance targets and a portion of these shares and stock options vested .', 'the remaining shares will vest upon satisfaction of prescribed service conditions by the award recipients .', 'during the three months ended june 30 , 2011 , the company determined that it should have been using the graded vesting method instead of the straight-line method to expense stock-based compensation for the performance-based awards issued in june 2010 .', 'this resulted in additional stock based compensation expense of approximately $ 0.6 million being recorded during the three months ended june 30 , 2011 that should have been recorded during the year ended march 31 , 2011 .', 'the company believes that the amount is not material to its march 31 , 2011 consolidated financial statements and therefore recorded the adjustment in the quarter ended june 30 , 2011 .', 'during the three months ended june 30 , 2011 , performance-based awards of restricted stock units for the potential issuance of 284000 shares of common stock were issued to certain executive officers and members of the senior management , all of which would vest upon achievement of prescribed service milestones by the award recipients and revenue performance milestones by the company .', 'as of march 31 , 2012 , the company determined that it met the prescribed targets for 184000 shares underlying these awards and it believes it is probable that the prescribed performance targets will be met for the remaining 100000 shares , and the compensation expense is being recognized accordingly .', 'during the year ended march 31 , 2012 , the company has recorded $ 3.3 million in stock-based compensation expense for equity awards in which the prescribed performance milestones have been achieved or are probable of being achieved .', 'the remaining unrecognized compensation expense related to these equity awards at march 31 , 2012 is $ 3.6 million based on the company 2019s current assessment of probability of achieving the performance milestones .', 'the weighted-average period over which this cost will be recognized is 2.1 years. .'] | , number of shares ( in thousands ), weighted average grant date fair value ( per share )
restricted stock and restricted stock units at beginning of year, 407, $ 9.84
granted, 607, 18.13
vested, -134 ( 134 ), 10.88
forfeited, -9 ( 9 ), 13.72
restricted stock and restricted stock units at end of year, 871, $ 15.76 | multiply(134, 10.88), divide(#0, const_1000) | 1.45792 |
what percentage of the aggregate maximum amount of future payments pnc could be required to make under outstanding standby letters of credit and risk participations in standby letters of credit and bankers 2019 acceptances was attributable to support remarketing programs? | Background: ['table 153 : net outstanding standby letters of credit dollars in billions december 31 december 31 .']
Tabular Data:
****************************************
dollars in billions | december 31 2012 | december 312011
net outstanding standby letters of credit | $ 11.5 | $ 10.8
internal credit ratings ( as a percentage of portfolio ) : | |
pass ( a ) | 95% ( 95 % ) | 94% ( 94 % )
below pass ( b ) | 5% ( 5 % ) | 6% ( 6 % )
****************************************
Follow-up: ['( a ) indicates that expected risk of loss is currently low .', '( b ) indicates a higher degree of risk of default .', 'if the customer fails to meet its financial or performance obligation to the third party under the terms of the contract or there is a need to support a remarketing program , then upon the request of the guaranteed party , subject to the terms of the letter of credit , we would be obligated to make payment to them .', 'the standby letters of credit and risk participations in standby letters of credit and bankers 2019 acceptances outstanding on december 31 , 2012 had terms ranging from less than 1 year to 7 years .', 'the aggregate maximum amount of future payments pnc could be required to make under outstanding standby letters of credit and risk participations in standby letters of credit and bankers 2019 acceptances was $ 14.7 billion at december 31 , 2012 , of which $ 7.5 billion support remarketing programs .', 'as of december 31 , 2012 , assets of $ 1.8 billion secured certain specifically identified standby letters of credit .', 'recourse provisions from third parties of $ 3.2 billion were also available for this purpose as of december 31 , 2012 .', 'in addition , a portion of the remaining standby letters of credit and letter of credit risk participations issued on behalf of specific customers is also secured by collateral or guarantees that secure the customers 2019 other obligations to us .', 'the carrying amount of the liability for our obligations related to standby letters of credit and risk participations in standby letters of credit and bankers 2019 acceptances was $ 247 million at december 31 , 2012 .', 'standby bond purchase agreements and other liquidity facilities we enter into standby bond purchase agreements to support municipal bond obligations .', 'at december 31 , 2012 , the aggregate of our commitments under these facilities was $ 587 million .', 'we also enter into certain other liquidity facilities to support individual pools of receivables acquired by commercial paper conduits .', 'at december 31 , 2012 , our total commitments under these facilities were $ 145 million .', 'indemnifications we are a party to numerous acquisition or divestiture agreements under which we have purchased or sold , or agreed to purchase or sell , various types of assets .', 'these agreements can cover the purchase or sale of : 2022 entire businesses , 2022 loan portfolios , 2022 branch banks , 2022 partial interests in companies , or 2022 other types of assets .', 'these agreements generally include indemnification provisions under which we indemnify the third parties to these agreements against a variety of risks to the indemnified parties as a result of the transaction in question .', 'when pnc is the seller , the indemnification provisions will generally also provide the buyer with protection relating to the quality of the assets we are selling and the extent of any liabilities being assumed by the buyer .', 'due to the nature of these indemnification provisions , we cannot quantify the total potential exposure to us resulting from them .', 'we provide indemnification in connection with securities offering transactions in which we are involved .', 'when we are the issuer of the securities , we provide indemnification to the underwriters or placement agents analogous to the indemnification provided to the purchasers of businesses from us , as described above .', 'when we are an underwriter or placement agent , we provide a limited indemnification to the issuer related to our actions in connection with the offering and , if there are other underwriters , indemnification to the other underwriters intended to result in an appropriate sharing of the risk of participating in the offering .', 'due to the nature of these indemnification provisions , we cannot quantify the total potential exposure to us resulting from them .', 'in the ordinary course of business , we enter into certain types of agreements that include provisions for indemnifying third parties .', 'we also enter into certain types of agreements , including leases , assignments of leases , and subleases , in which we agree to indemnify third parties for acts by our agents , assignees and/or sublessees , and employees .', 'we also enter into contracts for the delivery of technology service in which we indemnify the other party against claims of patent and copyright infringement by third parties .', 'due to the nature of these indemnification provisions , we cannot calculate our aggregate potential exposure under them .', 'in the ordinary course of business , we enter into contracts with third parties under which the third parties provide services on behalf of pnc .', 'in many of these contracts , we agree to indemnify the third party service provider under certain circumstances .', 'the terms of the indemnity vary from contract to contract and the amount of the indemnification liability , if any , cannot be determined .', 'we are a general or limited partner in certain asset management and investment limited partnerships , many of which contain indemnification provisions that would require us to make payments in excess of our remaining unfunded commitments .', 'while in certain of these partnerships the maximum liability to us is limited to the sum of our unfunded commitments and partnership distributions received by us , in the others the indemnification liability is unlimited .', 'as a result , we cannot determine our aggregate potential exposure for these indemnifications .', 'the pnc financial services group , inc .', '2013 form 10-k 227 .'] | 0.5102 | PNC/2012/page_246.pdf-1 | ['table 153 : net outstanding standby letters of credit dollars in billions december 31 december 31 .'] | ['( a ) indicates that expected risk of loss is currently low .', '( b ) indicates a higher degree of risk of default .', 'if the customer fails to meet its financial or performance obligation to the third party under the terms of the contract or there is a need to support a remarketing program , then upon the request of the guaranteed party , subject to the terms of the letter of credit , we would be obligated to make payment to them .', 'the standby letters of credit and risk participations in standby letters of credit and bankers 2019 acceptances outstanding on december 31 , 2012 had terms ranging from less than 1 year to 7 years .', 'the aggregate maximum amount of future payments pnc could be required to make under outstanding standby letters of credit and risk participations in standby letters of credit and bankers 2019 acceptances was $ 14.7 billion at december 31 , 2012 , of which $ 7.5 billion support remarketing programs .', 'as of december 31 , 2012 , assets of $ 1.8 billion secured certain specifically identified standby letters of credit .', 'recourse provisions from third parties of $ 3.2 billion were also available for this purpose as of december 31 , 2012 .', 'in addition , a portion of the remaining standby letters of credit and letter of credit risk participations issued on behalf of specific customers is also secured by collateral or guarantees that secure the customers 2019 other obligations to us .', 'the carrying amount of the liability for our obligations related to standby letters of credit and risk participations in standby letters of credit and bankers 2019 acceptances was $ 247 million at december 31 , 2012 .', 'standby bond purchase agreements and other liquidity facilities we enter into standby bond purchase agreements to support municipal bond obligations .', 'at december 31 , 2012 , the aggregate of our commitments under these facilities was $ 587 million .', 'we also enter into certain other liquidity facilities to support individual pools of receivables acquired by commercial paper conduits .', 'at december 31 , 2012 , our total commitments under these facilities were $ 145 million .', 'indemnifications we are a party to numerous acquisition or divestiture agreements under which we have purchased or sold , or agreed to purchase or sell , various types of assets .', 'these agreements can cover the purchase or sale of : 2022 entire businesses , 2022 loan portfolios , 2022 branch banks , 2022 partial interests in companies , or 2022 other types of assets .', 'these agreements generally include indemnification provisions under which we indemnify the third parties to these agreements against a variety of risks to the indemnified parties as a result of the transaction in question .', 'when pnc is the seller , the indemnification provisions will generally also provide the buyer with protection relating to the quality of the assets we are selling and the extent of any liabilities being assumed by the buyer .', 'due to the nature of these indemnification provisions , we cannot quantify the total potential exposure to us resulting from them .', 'we provide indemnification in connection with securities offering transactions in which we are involved .', 'when we are the issuer of the securities , we provide indemnification to the underwriters or placement agents analogous to the indemnification provided to the purchasers of businesses from us , as described above .', 'when we are an underwriter or placement agent , we provide a limited indemnification to the issuer related to our actions in connection with the offering and , if there are other underwriters , indemnification to the other underwriters intended to result in an appropriate sharing of the risk of participating in the offering .', 'due to the nature of these indemnification provisions , we cannot quantify the total potential exposure to us resulting from them .', 'in the ordinary course of business , we enter into certain types of agreements that include provisions for indemnifying third parties .', 'we also enter into certain types of agreements , including leases , assignments of leases , and subleases , in which we agree to indemnify third parties for acts by our agents , assignees and/or sublessees , and employees .', 'we also enter into contracts for the delivery of technology service in which we indemnify the other party against claims of patent and copyright infringement by third parties .', 'due to the nature of these indemnification provisions , we cannot calculate our aggregate potential exposure under them .', 'in the ordinary course of business , we enter into contracts with third parties under which the third parties provide services on behalf of pnc .', 'in many of these contracts , we agree to indemnify the third party service provider under certain circumstances .', 'the terms of the indemnity vary from contract to contract and the amount of the indemnification liability , if any , cannot be determined .', 'we are a general or limited partner in certain asset management and investment limited partnerships , many of which contain indemnification provisions that would require us to make payments in excess of our remaining unfunded commitments .', 'while in certain of these partnerships the maximum liability to us is limited to the sum of our unfunded commitments and partnership distributions received by us , in the others the indemnification liability is unlimited .', 'as a result , we cannot determine our aggregate potential exposure for these indemnifications .', 'the pnc financial services group , inc .', '2013 form 10-k 227 .'] | ****************************************
dollars in billions | december 31 2012 | december 312011
net outstanding standby letters of credit | $ 11.5 | $ 10.8
internal credit ratings ( as a percentage of portfolio ) : | |
pass ( a ) | 95% ( 95 % ) | 94% ( 94 % )
below pass ( b ) | 5% ( 5 % ) | 6% ( 6 % )
**************************************** | divide(7.5, 14.7) | 0.5102 |
in 2007 what was the ratio of the total debt to cash cash equivalents and marketable securities | Context: ['new accounting pronouncements information regarding new accounting pronouncements is included in note 1 to the consolidated financial statements .', 'financial condition and liquidity the company generates significant ongoing cash flow .', 'increases in long-term debt have been used , in part , to fund share repurchase activities and acquisitions .', 'on november 15 , 2007 , 3m ( safety , security and protection services business ) announced that it had entered into a definitive agreement for 3m 2019s acquisition of 100 percent of the outstanding shares of aearo holding corp .', 'e83a a global leader in the personal protection industry that manufactures and markets personal protection and energy absorbing products e83a for approximately $ 1.2 billion .', 'the sale is expected to close towards the end of the first quarter of 2008 .', 'at december 31 .']
----
Table:
( millions ) | 2007 | 2006 | 2005
----------|----------|----------|----------
total debt | $ 4920 | $ 3553 | $ 2381
less : cash cash equivalents and marketable securities | 2955 | 2084 | 1072
net debt | $ 1965 | $ 1469 | $ 1309
----
Post-table: ['cash , cash equivalents and marketable securities at december 31 , 2007 totaled approximately $ 3 billion , helped by strong cash flow generation and by the timing of debt issuances .', 'at december 31 , 2006 , cash balances were higher due to the significant pharmaceuticals sales proceeds received in december 2006 .', '3m believes its ongoing cash flows provide ample cash to fund expected investments and capital expenditures .', 'the company has sufficient access to capital markets to meet currently anticipated growth and acquisition investment funding needs .', 'the company does not utilize derivative instruments linked to the company 2019s stock .', 'however , the company does have contingently convertible debt that , if conditions for conversion are met , is convertible into shares of 3m common stock ( refer to note 10 in this document ) .', 'the company 2019s financial condition and liquidity are strong .', 'various assets and liabilities , including cash and short-term debt , can fluctuate significantly from month to month depending on short-term liquidity needs .', 'working capital ( defined as current assets minus current liabilities ) totaled $ 4.476 billion at december 31 , 2007 , compared with $ 1.623 billion at december 31 , 2006 .', 'working capital was higher primarily due to increases in cash and cash equivalents , short-term marketable securities , receivables and inventories and decreases in short-term debt and accrued income taxes .', 'the company 2019s liquidity remains strong , with cash , cash equivalents and marketable securities at december 31 , 2007 totaling approximately $ 3 billion .', 'primary short-term liquidity needs are provided through u.s .', 'commercial paper and euro commercial paper issuances .', 'as of december 31 , 2007 , outstanding total commercial paper issued totaled $ 349 million and averaged $ 1.249 billion during 2007 .', 'the company believes it unlikely that its access to the commercial paper market will be restricted .', 'in june 2007 , the company established a medium-term notes program through which up to $ 3 billion of medium-term notes may be offered , with remaining shelf borrowing capacity of $ 2.5 billion as of december 31 , 2007 .', 'on april 30 , 2007 , the company replaced its $ 565-million credit facility with a new $ 1.5-billion five-year credit facility , which has provisions for the company to request an increase of the facility up to $ 2 billion ( at the lenders 2019 discretion ) , and providing for up to $ 150 million in letters of credit .', 'as of december 31 , 2007 , there are $ 110 million in letters of credit drawn against the facility .', 'at december 31 , 2007 , available short-term committed lines of credit internationally totaled approximately $ 67 million , of which $ 13 million was utilized .', 'debt covenants do not restrict the payment of dividends .', 'the company has a "well-known seasoned issuer" shelf registration statement , effective february 24 , 2006 , to register an indeterminate amount of debt or equity securities for future sales .', 'the company intends to use the proceeds from future securities sales off this shelf for general corporate purposes .', 'at december 31 , 2007 , certain debt agreements ( $ 350 million of dealer remarketable securities and $ 87 million of esop debt ) had ratings triggers ( bbb-/baa3 or lower ) that would require repayment of debt .', 'the company has an aa credit rating , with a stable outlook , from standard & poor 2019s and an aa1 credit rating , with a negative outlook , from moody 2019s investors service .', 'in addition , under the $ 1.5-billion five-year credit facility agreement , 3m is required to maintain its ebitda to interest ratio as of the end of each fiscal quarter at not less than 3.0 to 1 .', 'this is calculated ( as defined in the agreement ) as the ratio of consolidated total ebitda for the four consecutive quarters then ended to total interest expense on all funded debt for the same period .', 'at december 31 , 2007 , this ratio was approximately 35 to 1. .'] | 1.66497 | MMM/2007/page_36.pdf-1 | ['new accounting pronouncements information regarding new accounting pronouncements is included in note 1 to the consolidated financial statements .', 'financial condition and liquidity the company generates significant ongoing cash flow .', 'increases in long-term debt have been used , in part , to fund share repurchase activities and acquisitions .', 'on november 15 , 2007 , 3m ( safety , security and protection services business ) announced that it had entered into a definitive agreement for 3m 2019s acquisition of 100 percent of the outstanding shares of aearo holding corp .', 'e83a a global leader in the personal protection industry that manufactures and markets personal protection and energy absorbing products e83a for approximately $ 1.2 billion .', 'the sale is expected to close towards the end of the first quarter of 2008 .', 'at december 31 .'] | ['cash , cash equivalents and marketable securities at december 31 , 2007 totaled approximately $ 3 billion , helped by strong cash flow generation and by the timing of debt issuances .', 'at december 31 , 2006 , cash balances were higher due to the significant pharmaceuticals sales proceeds received in december 2006 .', '3m believes its ongoing cash flows provide ample cash to fund expected investments and capital expenditures .', 'the company has sufficient access to capital markets to meet currently anticipated growth and acquisition investment funding needs .', 'the company does not utilize derivative instruments linked to the company 2019s stock .', 'however , the company does have contingently convertible debt that , if conditions for conversion are met , is convertible into shares of 3m common stock ( refer to note 10 in this document ) .', 'the company 2019s financial condition and liquidity are strong .', 'various assets and liabilities , including cash and short-term debt , can fluctuate significantly from month to month depending on short-term liquidity needs .', 'working capital ( defined as current assets minus current liabilities ) totaled $ 4.476 billion at december 31 , 2007 , compared with $ 1.623 billion at december 31 , 2006 .', 'working capital was higher primarily due to increases in cash and cash equivalents , short-term marketable securities , receivables and inventories and decreases in short-term debt and accrued income taxes .', 'the company 2019s liquidity remains strong , with cash , cash equivalents and marketable securities at december 31 , 2007 totaling approximately $ 3 billion .', 'primary short-term liquidity needs are provided through u.s .', 'commercial paper and euro commercial paper issuances .', 'as of december 31 , 2007 , outstanding total commercial paper issued totaled $ 349 million and averaged $ 1.249 billion during 2007 .', 'the company believes it unlikely that its access to the commercial paper market will be restricted .', 'in june 2007 , the company established a medium-term notes program through which up to $ 3 billion of medium-term notes may be offered , with remaining shelf borrowing capacity of $ 2.5 billion as of december 31 , 2007 .', 'on april 30 , 2007 , the company replaced its $ 565-million credit facility with a new $ 1.5-billion five-year credit facility , which has provisions for the company to request an increase of the facility up to $ 2 billion ( at the lenders 2019 discretion ) , and providing for up to $ 150 million in letters of credit .', 'as of december 31 , 2007 , there are $ 110 million in letters of credit drawn against the facility .', 'at december 31 , 2007 , available short-term committed lines of credit internationally totaled approximately $ 67 million , of which $ 13 million was utilized .', 'debt covenants do not restrict the payment of dividends .', 'the company has a "well-known seasoned issuer" shelf registration statement , effective february 24 , 2006 , to register an indeterminate amount of debt or equity securities for future sales .', 'the company intends to use the proceeds from future securities sales off this shelf for general corporate purposes .', 'at december 31 , 2007 , certain debt agreements ( $ 350 million of dealer remarketable securities and $ 87 million of esop debt ) had ratings triggers ( bbb-/baa3 or lower ) that would require repayment of debt .', 'the company has an aa credit rating , with a stable outlook , from standard & poor 2019s and an aa1 credit rating , with a negative outlook , from moody 2019s investors service .', 'in addition , under the $ 1.5-billion five-year credit facility agreement , 3m is required to maintain its ebitda to interest ratio as of the end of each fiscal quarter at not less than 3.0 to 1 .', 'this is calculated ( as defined in the agreement ) as the ratio of consolidated total ebitda for the four consecutive quarters then ended to total interest expense on all funded debt for the same period .', 'at december 31 , 2007 , this ratio was approximately 35 to 1. .'] | ( millions ) | 2007 | 2006 | 2005
----------|----------|----------|----------
total debt | $ 4920 | $ 3553 | $ 2381
less : cash cash equivalents and marketable securities | 2955 | 2084 | 1072
net debt | $ 1965 | $ 1469 | $ 1309 | divide(4920, 2955) | 1.66497 |
what percentage of total other current assets in 2006 was comprised of nand flash memory prepayments? | Context: ['notes to consolidated financial statements ( continued ) note 2 2014financial instruments ( continued ) typically , the company hedges portions of its forecasted foreign currency exposure associated with revenue and inventory purchases over a time horizon of up to 6 months .', 'derivative instruments designated as cash flow hedges must be de-designated as hedges when it is probable the forecasted hedged transaction will not occur in the initially identified time period or within a subsequent 2 month time period .', 'deferred gains and losses in other comprehensive income associated with such derivative instruments are immediately reclassified into earnings in other income and expense .', 'any subsequent changes in fair value of such derivative instruments are also reflected in current earnings unless they are re-designated as hedges of other transactions .', 'the company recognized net gains of approximately $ 672000 and $ 421000 in 2007 and 2006 , respectively , and a net loss of $ 1.6 million in 2005 in other income and expense related to the loss of hedge designation on discontinued cash flow hedges due to changes in the company 2019s forecast of future net sales and cost of sales and due to prevailing market conditions .', 'as of september 29 , 2007 , the company had a net deferred gain associated with cash flow hedges of approximately $ 468000 , net of taxes , substantially all of which is expected to be reclassified to earnings by the end of the second quarter of fiscal 2008 .', 'the net gain or loss on the effective portion of a derivative instrument designated as a net investment hedge is included in the cumulative translation adjustment account of accumulated other comprehensive income within shareholders 2019 equity .', 'for the years ended september 29 , 2007 and september 30 , 2006 , the company had a net loss of $ 2.6 million and a net gain of $ 7.4 million , respectively , included in the cumulative translation adjustment .', 'the company may also enter into foreign currency forward and option contracts to offset the foreign exchange gains and losses generated by the re-measurement of certain assets and liabilities recorded in non-functional currencies .', 'changes in the fair value of these derivatives are recognized in current earnings in other income and expense as offsets to the changes in the fair value of the related assets or liabilities .', 'due to currency market movements , changes in option time value can lead to increased volatility in other income and expense .', 'note 3 2014consolidated financial statement details ( in millions ) other current assets .']
----------
Tabular Data:
----------------------------------------
, 2007, 2006
vendor non-trade receivables, $ 2392, $ 1593
nand flash memory prepayments, 417, 208
other current assets, 996, 469
total other current assets, $ 3805, $ 2270
----------------------------------------
----------
Follow-up: ['.'] | 0.09163 | AAPL/2007/page_72.pdf-1 | ['notes to consolidated financial statements ( continued ) note 2 2014financial instruments ( continued ) typically , the company hedges portions of its forecasted foreign currency exposure associated with revenue and inventory purchases over a time horizon of up to 6 months .', 'derivative instruments designated as cash flow hedges must be de-designated as hedges when it is probable the forecasted hedged transaction will not occur in the initially identified time period or within a subsequent 2 month time period .', 'deferred gains and losses in other comprehensive income associated with such derivative instruments are immediately reclassified into earnings in other income and expense .', 'any subsequent changes in fair value of such derivative instruments are also reflected in current earnings unless they are re-designated as hedges of other transactions .', 'the company recognized net gains of approximately $ 672000 and $ 421000 in 2007 and 2006 , respectively , and a net loss of $ 1.6 million in 2005 in other income and expense related to the loss of hedge designation on discontinued cash flow hedges due to changes in the company 2019s forecast of future net sales and cost of sales and due to prevailing market conditions .', 'as of september 29 , 2007 , the company had a net deferred gain associated with cash flow hedges of approximately $ 468000 , net of taxes , substantially all of which is expected to be reclassified to earnings by the end of the second quarter of fiscal 2008 .', 'the net gain or loss on the effective portion of a derivative instrument designated as a net investment hedge is included in the cumulative translation adjustment account of accumulated other comprehensive income within shareholders 2019 equity .', 'for the years ended september 29 , 2007 and september 30 , 2006 , the company had a net loss of $ 2.6 million and a net gain of $ 7.4 million , respectively , included in the cumulative translation adjustment .', 'the company may also enter into foreign currency forward and option contracts to offset the foreign exchange gains and losses generated by the re-measurement of certain assets and liabilities recorded in non-functional currencies .', 'changes in the fair value of these derivatives are recognized in current earnings in other income and expense as offsets to the changes in the fair value of the related assets or liabilities .', 'due to currency market movements , changes in option time value can lead to increased volatility in other income and expense .', 'note 3 2014consolidated financial statement details ( in millions ) other current assets .'] | ['.'] | ----------------------------------------
, 2007, 2006
vendor non-trade receivables, $ 2392, $ 1593
nand flash memory prepayments, 417, 208
other current assets, 996, 469
total other current assets, $ 3805, $ 2270
---------------------------------------- | divide(208, 2270) | 0.09163 |
as part of the overall decline in the nets ales in 2013 what was the total decline in sales before the partial offsetting increase leading to the net decline in millions | Background: ['warfighter information network-tactical ( win-t ) ; command , control , battle management and communications ( c2bmc ) ; and twic ) .', 'partially offsetting the decreases were higher net sales of approximately $ 140 million from qtc , which was acquired early in the fourth quarter of 2011 ; and about $ 65 million from increased activity on numerous other programs , primarily federal cyber security programs and ptds operational support .', 'is&gs 2019 operating profit for 2012 decreased $ 66 million , or 8% ( 8 % ) , compared to 2011 .', 'the decrease was attributable to lower operating profit of approximately $ 50 million due to the favorable impact of the odin contract completion in 2011 ; about $ 25 million due to an increase in reserves for performance issues related to an international airborne surveillance system in 2012 ; and approximately $ 20 million due to lower volume on certain programs ( primarily c2bmc and win-t ) .', 'partially offsetting the decreases was an increase in operating profit due to higher risk retirements of approximately $ 15 million from the twic program ; and about $ 10 million due to increased activity on numerous other programs , primarily federal cyber security programs and ptds operational support .', 'operating profit for the jtrs program was comparable as a decrease in volume was offset by a decrease in reserves .', 'adjustments not related to volume , including net profit booking rate adjustments and other matters described above , were approximately $ 20 million higher for 2012 compared to 2011 .', 'backlog backlog decreased in 2013 compared to 2012 primarily due to lower orders on several programs ( such as eram and ngi ) , higher sales on certain programs ( the national science foundation antarctic support and the disa gsm-o ) , and declining activities on several smaller programs primarily due to the continued downturn in federal information technology budgets .', 'backlog decreased in 2012 compared to 2011 primarily due to the substantial completion of various programs in 2011 ( primarily odin , u.k .', 'census , and jtrs ) .', 'trends we expect is&gs 2019 net sales to decline in 2014 in the high single digit percentage range as compared to 2013 primarily due to the continued downturn in federal information technology budgets .', 'operating profit is also expected to decline in 2014 in the high single digit percentage range consistent with the expected decline in net sales , resulting in margins that are comparable with 2013 results .', 'missiles and fire control our mfc business segment provides air and missile defense systems ; tactical missiles and air-to-ground precision strike weapon systems ; logistics and other technical services ; fire control systems ; mission operations support , readiness , engineering support , and integration services ; and manned and unmanned ground vehicles .', 'mfc 2019s major programs include pac-3 , thaad , multiple launch rocket system , hellfire , joint air-to-surface standoff missile ( jassm ) , javelin , apache fire control system ( apache ) , sniper ae , low altitude navigation and targeting infrared for night ( lantirn ae ) , and sof clss .', 'mfc 2019s operating results included the following ( in millions ) : .']
Data Table:
****************************************
2013 2012 2011
net sales $ 7757 $ 7457 $ 7463
operating profit 1431 1256 1069
operating margins 18.4% ( 18.4 % ) 16.8% ( 16.8 % ) 14.3% ( 14.3 % )
backlog at year-end 15000 14700 14400
****************************************
Post-table: ['2013 compared to 2012 mfc 2019s net sales for 2013 increased $ 300 million , or 4% ( 4 % ) , compared to 2012 .', 'the increase was primarily attributable to higher net sales of approximately $ 450 million for air and missile defense programs ( thaad and pac-3 ) due to increased production volume and deliveries ; about $ 70 million for fire control programs due to net increased deliveries and volume ; and approximately $ 55 million for tactical missile programs due to net increased deliveries .', 'the increases were partially offset by lower net sales of about $ 275 million for various technical services programs due to lower volume driven by the continuing impact of defense budget reductions and related competitive pressures .', 'the increase for fire control programs was primarily attributable to increased deliveries on the sniper ae and lantirn ae programs , increased volume on the sof clss program , partially offset by lower volume on longbow fire control radar and other programs .', 'the increase for tactical missile programs was primarily attributable to increased deliveries on jassm and other programs , partially offset by fewer deliveries on the guided multiple launch rocket system and javelin programs. .'] | 95.0 | LMT/2013/page_46.pdf-2 | ['warfighter information network-tactical ( win-t ) ; command , control , battle management and communications ( c2bmc ) ; and twic ) .', 'partially offsetting the decreases were higher net sales of approximately $ 140 million from qtc , which was acquired early in the fourth quarter of 2011 ; and about $ 65 million from increased activity on numerous other programs , primarily federal cyber security programs and ptds operational support .', 'is&gs 2019 operating profit for 2012 decreased $ 66 million , or 8% ( 8 % ) , compared to 2011 .', 'the decrease was attributable to lower operating profit of approximately $ 50 million due to the favorable impact of the odin contract completion in 2011 ; about $ 25 million due to an increase in reserves for performance issues related to an international airborne surveillance system in 2012 ; and approximately $ 20 million due to lower volume on certain programs ( primarily c2bmc and win-t ) .', 'partially offsetting the decreases was an increase in operating profit due to higher risk retirements of approximately $ 15 million from the twic program ; and about $ 10 million due to increased activity on numerous other programs , primarily federal cyber security programs and ptds operational support .', 'operating profit for the jtrs program was comparable as a decrease in volume was offset by a decrease in reserves .', 'adjustments not related to volume , including net profit booking rate adjustments and other matters described above , were approximately $ 20 million higher for 2012 compared to 2011 .', 'backlog backlog decreased in 2013 compared to 2012 primarily due to lower orders on several programs ( such as eram and ngi ) , higher sales on certain programs ( the national science foundation antarctic support and the disa gsm-o ) , and declining activities on several smaller programs primarily due to the continued downturn in federal information technology budgets .', 'backlog decreased in 2012 compared to 2011 primarily due to the substantial completion of various programs in 2011 ( primarily odin , u.k .', 'census , and jtrs ) .', 'trends we expect is&gs 2019 net sales to decline in 2014 in the high single digit percentage range as compared to 2013 primarily due to the continued downturn in federal information technology budgets .', 'operating profit is also expected to decline in 2014 in the high single digit percentage range consistent with the expected decline in net sales , resulting in margins that are comparable with 2013 results .', 'missiles and fire control our mfc business segment provides air and missile defense systems ; tactical missiles and air-to-ground precision strike weapon systems ; logistics and other technical services ; fire control systems ; mission operations support , readiness , engineering support , and integration services ; and manned and unmanned ground vehicles .', 'mfc 2019s major programs include pac-3 , thaad , multiple launch rocket system , hellfire , joint air-to-surface standoff missile ( jassm ) , javelin , apache fire control system ( apache ) , sniper ae , low altitude navigation and targeting infrared for night ( lantirn ae ) , and sof clss .', 'mfc 2019s operating results included the following ( in millions ) : .'] | ['2013 compared to 2012 mfc 2019s net sales for 2013 increased $ 300 million , or 4% ( 4 % ) , compared to 2012 .', 'the increase was primarily attributable to higher net sales of approximately $ 450 million for air and missile defense programs ( thaad and pac-3 ) due to increased production volume and deliveries ; about $ 70 million for fire control programs due to net increased deliveries and volume ; and approximately $ 55 million for tactical missile programs due to net increased deliveries .', 'the increases were partially offset by lower net sales of about $ 275 million for various technical services programs due to lower volume driven by the continuing impact of defense budget reductions and related competitive pressures .', 'the increase for fire control programs was primarily attributable to increased deliveries on the sniper ae and lantirn ae programs , increased volume on the sof clss program , partially offset by lower volume on longbow fire control radar and other programs .', 'the increase for tactical missile programs was primarily attributable to increased deliveries on jassm and other programs , partially offset by fewer deliveries on the guided multiple launch rocket system and javelin programs. .'] | ****************************************
2013 2012 2011
net sales $ 7757 $ 7457 $ 7463
operating profit 1431 1256 1069
operating margins 18.4% ( 18.4 % ) 16.8% ( 16.8 % ) 14.3% ( 14.3 % )
backlog at year-end 15000 14700 14400
**************************************** | add(50, 25), add(#0, 20) | 95.0 |
what is the percentage change in the balance of total investments gaap from 2011 to 2012? | Background: ['the company further presents total net 201ceconomic 201d investment exposure , net of deferred compensation investments and hedged investments , to reflect another gauge for investors as the economic impact of investments held pursuant to deferred compensation arrangements is substantially offset by a change in compensation expense and the impact of hedged investments is substantially mitigated by total return swap hedges .', 'carried interest capital allocations are excluded as there is no impact to blackrock 2019s stockholders 2019 equity until such amounts are realized as performance fees .', 'finally , the company 2019s regulatory investment in federal reserve bank stock , which is not subject to market or interest rate risk , is excluded from the company 2019s net economic investment exposure .', '( dollar amounts in millions ) december 31 , december 31 .']
####
Tabular Data:
****************************************
Row 1: ( dollar amounts in millions ), december 31 2012, december 31 2011
Row 2: total investments gaap, $ 1750, $ 1631
Row 3: investments held by consolidated sponsored investmentfunds ( 1 ), -524 ( 524 ), -587 ( 587 )
Row 4: net exposure to consolidated investment funds, 430, 475
Row 5: total investments as adjusted, 1656, 1519
Row 6: federal reserve bank stock ( 2 ), -89 ( 89 ), -328 ( 328 )
Row 7: carried interest, -85 ( 85 ), -21 ( 21 )
Row 8: deferred compensation investments, -62 ( 62 ), -65 ( 65 )
Row 9: hedged investments, -209 ( 209 ), -43 ( 43 )
Row 10: total 201ceconomic 201d investment exposure, $ 1211, $ 1062
****************************************
####
Additional Information: ['total 201ceconomic 201d investment exposure .', '.', '.', '$ 1211 $ 1062 ( 1 ) at december 31 , 2012 and december 31 , 2011 , approximately $ 524 million and $ 587 million , respectively , of blackrock 2019s total gaap investments were maintained in sponsored investment funds that were deemed to be controlled by blackrock in accordance with gaap , and , therefore , are consolidated even though blackrock may not economically own a majority of such funds .', '( 2 ) the decrease of $ 239 million related to a lower holding requirement of federal reserve bank stock held by blackrock institutional trust company , n.a .', '( 201cbtc 201d ) .', 'total investments , as adjusted , at december 31 , 2012 increased $ 137 million from december 31 , 2011 , resulting from $ 765 million of purchases/capital contributions , $ 185 million from positive market valuations and earnings from equity method investments , and $ 64 million from net additional carried interest capital allocations , partially offset by $ 742 million of sales/maturities and $ 135 million of distributions representing return of capital and return on investments. .'] | 0.07296 | BLK/2012/page_82.pdf-3 | ['the company further presents total net 201ceconomic 201d investment exposure , net of deferred compensation investments and hedged investments , to reflect another gauge for investors as the economic impact of investments held pursuant to deferred compensation arrangements is substantially offset by a change in compensation expense and the impact of hedged investments is substantially mitigated by total return swap hedges .', 'carried interest capital allocations are excluded as there is no impact to blackrock 2019s stockholders 2019 equity until such amounts are realized as performance fees .', 'finally , the company 2019s regulatory investment in federal reserve bank stock , which is not subject to market or interest rate risk , is excluded from the company 2019s net economic investment exposure .', '( dollar amounts in millions ) december 31 , december 31 .'] | ['total 201ceconomic 201d investment exposure .', '.', '.', '$ 1211 $ 1062 ( 1 ) at december 31 , 2012 and december 31 , 2011 , approximately $ 524 million and $ 587 million , respectively , of blackrock 2019s total gaap investments were maintained in sponsored investment funds that were deemed to be controlled by blackrock in accordance with gaap , and , therefore , are consolidated even though blackrock may not economically own a majority of such funds .', '( 2 ) the decrease of $ 239 million related to a lower holding requirement of federal reserve bank stock held by blackrock institutional trust company , n.a .', '( 201cbtc 201d ) .', 'total investments , as adjusted , at december 31 , 2012 increased $ 137 million from december 31 , 2011 , resulting from $ 765 million of purchases/capital contributions , $ 185 million from positive market valuations and earnings from equity method investments , and $ 64 million from net additional carried interest capital allocations , partially offset by $ 742 million of sales/maturities and $ 135 million of distributions representing return of capital and return on investments. .'] | ****************************************
Row 1: ( dollar amounts in millions ), december 31 2012, december 31 2011
Row 2: total investments gaap, $ 1750, $ 1631
Row 3: investments held by consolidated sponsored investmentfunds ( 1 ), -524 ( 524 ), -587 ( 587 )
Row 4: net exposure to consolidated investment funds, 430, 475
Row 5: total investments as adjusted, 1656, 1519
Row 6: federal reserve bank stock ( 2 ), -89 ( 89 ), -328 ( 328 )
Row 7: carried interest, -85 ( 85 ), -21 ( 21 )
Row 8: deferred compensation investments, -62 ( 62 ), -65 ( 65 )
Row 9: hedged investments, -209 ( 209 ), -43 ( 43 )
Row 10: total 201ceconomic 201d investment exposure, $ 1211, $ 1062
**************************************** | subtract(1750, 1631), divide(#0, 1631) | 0.07296 |
what is the total net operating loss that must be utilized before expiration between may 31 , 2017 and may 31 , 2033? | Pre-text: ['undistributed earnings of $ 696.9 million from certain foreign subsidiaries are considered to be permanently reinvested abroad and will not be repatriated to the united states in the foreseeable future .', 'because those earnings are considered to be indefinitely reinvested , no domestic federal or state deferred income taxes have been provided thereon .', 'if we were to make a distribution of any portion of those earnings in the form of dividends or otherwise , we would be subject to both u.s .', 'income taxes ( subject to an adjustment for foreign tax credits ) and withholding taxes payable to the various foreign jurisdictions .', 'because of the availability of u.s .', 'foreign tax credit carryforwards , it is not practicable to determine the domestic federal income tax liability that would be payable if such earnings were no longer considered to be reinvested indefinitely .', 'a valuation allowance is provided against deferred tax assets when it is more likely than not that some portion or all of the deferred tax assets will not be realized .', 'changes to our valuation allowance during the years ended may 31 , 2015 and 2014 are summarized below ( in thousands ) : .']
----
Tabular Data:
****************************************
Row 1: balance at may 31 2013, $ -28464 ( 28464 )
Row 2: utilization of foreign net operating loss carryforwards, 2822
Row 3: allowance for foreign tax credit carryforward, 18061
Row 4: other, 382
Row 5: balance at may 31 2014, -7199 ( 7199 )
Row 6: utilization of foreign net operating loss carryforwards, 3387
Row 7: other, -11 ( 11 )
Row 8: balance at may 31 2015, $ -3823 ( 3823 )
****************************************
----
Additional Information: ['net operating loss carryforwards of foreign subsidiaries totaling $ 12.4 million and u.s .', 'net operating loss carryforwards previously acquired totaling $ 19.8 million at may 31 , 2015 will expire between may 31 , 2017 and may 31 , 2033 if not utilized .', 'capital loss carryforwards of u.s .', 'subsidiaries totaling $ 4.7 million will expire if not utilized by may 31 , 2017 .', 'tax credit carryforwards totaling $ 8.4 million at may 31 , 2015 will expire between may 31 , 2017 and may 31 , 2023 if not utilized .', 'we conduct business globally and file income tax returns in the u.s .', 'federal jurisdiction and various state and foreign jurisdictions .', 'in the normal course of business , we are subject to examination by taxing authorities around the world .', 'as a result of events that occurred in the fourth quarter of the year ended may 31 , 2015 , management concluded that it was more likely than not that the tax positions in a foreign jurisdiction , for which we had recorded estimated liabilities of $ 65.6 million in other noncurrent liabilities on our consolidated balance sheet , would be sustained on their technical merits based on information available as of may 31 , 2015 .', 'therefore , the liability and corresponding deferred tax assets were eliminated as of may 31 , 2015 .', 'the uncertain tax positions have been subject to an ongoing examination in that foreign jurisdiction by the tax authority .', 'discussions and correspondence between the tax authority and us during the fourth quarter indicated that the likelihood of the positions being sustained had increased .', 'subsequent to may 31 , 2015 , we received a final closure notice regarding the examination resulting in no adjustments to taxable income related to this matter for the tax returns filed for the periods ended may 31 , 2010 through may 31 , 2013 .', 'the unrecognized tax benefits were effectively settled with this final closure notice .', 'we are no longer subjected to state income tax examinations for years ended on or before may 31 , 2008 , u.s .', 'federal income tax examinations for fiscal years prior to 2012 and united kingdom federal income tax examinations for years ended on or before may 31 , 2013 .', '78 2013 global payments inc .', '| 2015 form 10-k annual report .'] | 32.2 | GPN/2015/page_80.pdf-1 | ['undistributed earnings of $ 696.9 million from certain foreign subsidiaries are considered to be permanently reinvested abroad and will not be repatriated to the united states in the foreseeable future .', 'because those earnings are considered to be indefinitely reinvested , no domestic federal or state deferred income taxes have been provided thereon .', 'if we were to make a distribution of any portion of those earnings in the form of dividends or otherwise , we would be subject to both u.s .', 'income taxes ( subject to an adjustment for foreign tax credits ) and withholding taxes payable to the various foreign jurisdictions .', 'because of the availability of u.s .', 'foreign tax credit carryforwards , it is not practicable to determine the domestic federal income tax liability that would be payable if such earnings were no longer considered to be reinvested indefinitely .', 'a valuation allowance is provided against deferred tax assets when it is more likely than not that some portion or all of the deferred tax assets will not be realized .', 'changes to our valuation allowance during the years ended may 31 , 2015 and 2014 are summarized below ( in thousands ) : .'] | ['net operating loss carryforwards of foreign subsidiaries totaling $ 12.4 million and u.s .', 'net operating loss carryforwards previously acquired totaling $ 19.8 million at may 31 , 2015 will expire between may 31 , 2017 and may 31 , 2033 if not utilized .', 'capital loss carryforwards of u.s .', 'subsidiaries totaling $ 4.7 million will expire if not utilized by may 31 , 2017 .', 'tax credit carryforwards totaling $ 8.4 million at may 31 , 2015 will expire between may 31 , 2017 and may 31 , 2023 if not utilized .', 'we conduct business globally and file income tax returns in the u.s .', 'federal jurisdiction and various state and foreign jurisdictions .', 'in the normal course of business , we are subject to examination by taxing authorities around the world .', 'as a result of events that occurred in the fourth quarter of the year ended may 31 , 2015 , management concluded that it was more likely than not that the tax positions in a foreign jurisdiction , for which we had recorded estimated liabilities of $ 65.6 million in other noncurrent liabilities on our consolidated balance sheet , would be sustained on their technical merits based on information available as of may 31 , 2015 .', 'therefore , the liability and corresponding deferred tax assets were eliminated as of may 31 , 2015 .', 'the uncertain tax positions have been subject to an ongoing examination in that foreign jurisdiction by the tax authority .', 'discussions and correspondence between the tax authority and us during the fourth quarter indicated that the likelihood of the positions being sustained had increased .', 'subsequent to may 31 , 2015 , we received a final closure notice regarding the examination resulting in no adjustments to taxable income related to this matter for the tax returns filed for the periods ended may 31 , 2010 through may 31 , 2013 .', 'the unrecognized tax benefits were effectively settled with this final closure notice .', 'we are no longer subjected to state income tax examinations for years ended on or before may 31 , 2008 , u.s .', 'federal income tax examinations for fiscal years prior to 2012 and united kingdom federal income tax examinations for years ended on or before may 31 , 2013 .', '78 2013 global payments inc .', '| 2015 form 10-k annual report .'] | ****************************************
Row 1: balance at may 31 2013, $ -28464 ( 28464 )
Row 2: utilization of foreign net operating loss carryforwards, 2822
Row 3: allowance for foreign tax credit carryforward, 18061
Row 4: other, 382
Row 5: balance at may 31 2014, -7199 ( 7199 )
Row 6: utilization of foreign net operating loss carryforwards, 3387
Row 7: other, -11 ( 11 )
Row 8: balance at may 31 2015, $ -3823 ( 3823 )
**************************************** | add(19.8, 12.4) | 32.2 |
in 2009 what was the ratio of the direct amount to the amount ceded to other companies | Background: ['s c h e d u l e i v ace limited and subsidiaries s u p p l e m e n t a l i n f o r m a t i o n c o n c e r n i n g r e i n s u r a n c e premiums earned for the years ended december 31 , 2009 , 2008 , and 2007 ( in millions of u.s .', 'dollars , except for percentages ) direct amount ceded to companies assumed from other companies net amount percentage of amount assumed to .']
########
Tabular Data:
========================================
for the years ended december 31 2009 2008 and 2007 ( in millions of u.s . dollars except for percentages ) | direct amount | ceded to other companies | assumed from other companies | net amount | percentage of amount assumed to net
----------|----------|----------|----------|----------|----------
2009 | $ 15415 | $ 5943 | $ 3768 | $ 13240 | 28% ( 28 % )
2008 | $ 16087 | $ 6144 | $ 3260 | $ 13203 | 25% ( 25 % )
2007 | $ 14673 | $ 5834 | $ 3458 | $ 12297 | 28% ( 28 % )
========================================
########
Follow-up: ['.'] | 2.59381 | CB/2009/page_233.pdf-2 | ['s c h e d u l e i v ace limited and subsidiaries s u p p l e m e n t a l i n f o r m a t i o n c o n c e r n i n g r e i n s u r a n c e premiums earned for the years ended december 31 , 2009 , 2008 , and 2007 ( in millions of u.s .', 'dollars , except for percentages ) direct amount ceded to companies assumed from other companies net amount percentage of amount assumed to .'] | ['.'] | ========================================
for the years ended december 31 2009 2008 and 2007 ( in millions of u.s . dollars except for percentages ) | direct amount | ceded to other companies | assumed from other companies | net amount | percentage of amount assumed to net
----------|----------|----------|----------|----------|----------
2009 | $ 15415 | $ 5943 | $ 3768 | $ 13240 | 28% ( 28 % )
2008 | $ 16087 | $ 6144 | $ 3260 | $ 13203 | 25% ( 25 % )
2007 | $ 14673 | $ 5834 | $ 3458 | $ 12297 | 28% ( 28 % )
======================================== | divide(15415, 5943) | 2.59381 |
what percentage of total freight revenues was the industrial products commodity group in 2012? | Pre-text: ['notes to the consolidated financial statements union pacific corporation and subsidiary companies for purposes of this report , unless the context otherwise requires , all references herein to the 201ccorporation 201d , 201cupc 201d , 201cwe 201d , 201cus 201d , and 201cour 201d mean union pacific corporation and its subsidiaries , including union pacific railroad company , which will be separately referred to herein as 201cuprr 201d or the 201crailroad 201d .', '1 .', 'nature of operations operations and segmentation 2013 we are a class i railroad operating in the u.s .', 'our network includes 31868 route miles , linking pacific coast and gulf coast ports with the midwest and eastern u.s .', 'gateways and providing several corridors to key mexican gateways .', 'we own 26020 miles and operate on the remainder pursuant to trackage rights or leases .', 'we serve the western two-thirds of the country and maintain coordinated schedules with other rail carriers for the handling of freight to and from the atlantic coast , the pacific coast , the southeast , the southwest , canada , and mexico .', 'export and import traffic is moved through gulf coast and pacific coast ports and across the mexican and canadian borders .', 'the railroad , along with its subsidiaries and rail affiliates , is our one reportable operating segment .', 'although we provide and review revenue by commodity group , we analyze the net financial results of the railroad as one segment due to the integrated nature of our rail network .', 'the following table provides freight revenue by commodity group : millions 2012 2011 2010 .']
----
Table:
========================================
• millions, 2012, 2011, 2010
• agricultural, $ 3280, $ 3324, $ 3018
• automotive, 1807, 1510, 1271
• chemicals, 3238, 2815, 2425
• coal, 3912, 4084, 3489
• industrial products, 3494, 3166, 2639
• intermodal, 3955, 3609, 3227
• total freight revenues, $ 19686, $ 18508, $ 16069
• other revenues, 1240, 1049, 896
• total operatingrevenues, $ 20926, $ 19557, $ 16965
========================================
----
Follow-up: ['although our revenues are principally derived from customers domiciled in the u.s. , the ultimate points of origination or destination for some products transported by us are outside the u.s .', 'each of our commodity groups includes revenue from shipments to and from mexico .', 'included in the above table are revenues from our mexico business which amounted to $ 1.9 billion in 2012 , $ 1.8 billion in 2011 , and $ 1.6 billion in 2010 .', 'basis of presentation 2013 the consolidated financial statements are presented in accordance with accounting principles generally accepted in the u.s .', '( gaap ) as codified in the financial accounting standards board ( fasb ) accounting standards codification ( asc ) .', '2 .', 'significant accounting policies principles of consolidation 2013 the consolidated financial statements include the accounts of union pacific corporation and all of its subsidiaries .', 'investments in affiliated companies ( 20% ( 20 % ) to 50% ( 50 % ) owned ) are accounted for using the equity method of accounting .', 'all intercompany transactions are eliminated .', 'we currently have no less than majority-owned investments that require consolidation under variable interest entity requirements .', 'cash and cash equivalents 2013 cash equivalents consist of investments with original maturities of three months or less .', 'accounts receivable 2013 accounts receivable includes receivables reduced by an allowance for doubtful accounts .', 'the allowance is based upon historical losses , credit worthiness of customers , and current economic conditions .', 'receivables not expected to be collected in one year and the associated allowances are classified as other assets in our consolidated statements of financial position. .'] | 0.17749 | UNP/2012/page_55.pdf-4 | ['notes to the consolidated financial statements union pacific corporation and subsidiary companies for purposes of this report , unless the context otherwise requires , all references herein to the 201ccorporation 201d , 201cupc 201d , 201cwe 201d , 201cus 201d , and 201cour 201d mean union pacific corporation and its subsidiaries , including union pacific railroad company , which will be separately referred to herein as 201cuprr 201d or the 201crailroad 201d .', '1 .', 'nature of operations operations and segmentation 2013 we are a class i railroad operating in the u.s .', 'our network includes 31868 route miles , linking pacific coast and gulf coast ports with the midwest and eastern u.s .', 'gateways and providing several corridors to key mexican gateways .', 'we own 26020 miles and operate on the remainder pursuant to trackage rights or leases .', 'we serve the western two-thirds of the country and maintain coordinated schedules with other rail carriers for the handling of freight to and from the atlantic coast , the pacific coast , the southeast , the southwest , canada , and mexico .', 'export and import traffic is moved through gulf coast and pacific coast ports and across the mexican and canadian borders .', 'the railroad , along with its subsidiaries and rail affiliates , is our one reportable operating segment .', 'although we provide and review revenue by commodity group , we analyze the net financial results of the railroad as one segment due to the integrated nature of our rail network .', 'the following table provides freight revenue by commodity group : millions 2012 2011 2010 .'] | ['although our revenues are principally derived from customers domiciled in the u.s. , the ultimate points of origination or destination for some products transported by us are outside the u.s .', 'each of our commodity groups includes revenue from shipments to and from mexico .', 'included in the above table are revenues from our mexico business which amounted to $ 1.9 billion in 2012 , $ 1.8 billion in 2011 , and $ 1.6 billion in 2010 .', 'basis of presentation 2013 the consolidated financial statements are presented in accordance with accounting principles generally accepted in the u.s .', '( gaap ) as codified in the financial accounting standards board ( fasb ) accounting standards codification ( asc ) .', '2 .', 'significant accounting policies principles of consolidation 2013 the consolidated financial statements include the accounts of union pacific corporation and all of its subsidiaries .', 'investments in affiliated companies ( 20% ( 20 % ) to 50% ( 50 % ) owned ) are accounted for using the equity method of accounting .', 'all intercompany transactions are eliminated .', 'we currently have no less than majority-owned investments that require consolidation under variable interest entity requirements .', 'cash and cash equivalents 2013 cash equivalents consist of investments with original maturities of three months or less .', 'accounts receivable 2013 accounts receivable includes receivables reduced by an allowance for doubtful accounts .', 'the allowance is based upon historical losses , credit worthiness of customers , and current economic conditions .', 'receivables not expected to be collected in one year and the associated allowances are classified as other assets in our consolidated statements of financial position. .'] | ========================================
• millions, 2012, 2011, 2010
• agricultural, $ 3280, $ 3324, $ 3018
• automotive, 1807, 1510, 1271
• chemicals, 3238, 2815, 2425
• coal, 3912, 4084, 3489
• industrial products, 3494, 3166, 2639
• intermodal, 3955, 3609, 3227
• total freight revenues, $ 19686, $ 18508, $ 16069
• other revenues, 1240, 1049, 896
• total operatingrevenues, $ 20926, $ 19557, $ 16965
======================================== | divide(3494, 19686) | 0.17749 |
what was the change in the fair value of the debt acquisition date fair value of the borrow- ings | Pre-text: ['determined that it was the primary beneficiary of the 2001 financing entities and thus consolidated the entities effective march 16 , 2011 .', 'effective april 30 , 2011 , international paper liquidated its interest in the 2001 financing entities .', 'activity between the company and the 2002 financ- ing entities was as follows: .']
########
Table:
----------------------------------------
Row 1: in millions, 2012, 2011, 2010
Row 2: revenue ( loss ) ( a ), $ 2014, $ 2, $ 5
Row 3: expense ( b ), 2014, 3, 8
Row 4: cash receipts ( c ), 252, 192, 3
Row 5: cash payments ( d ), 159, 244, 8
----------------------------------------
########
Follow-up: ['( a ) the revenue is included in equity earnings ( loss ) , net of tax in the accompanying consolidated statement of operations .', '( b ) the expense is included in interest expense , net in the accom- panying consolidated statement of operations .', '( c ) the cash receipts are equity distributions from the 2002 financ- ing entities to international paper and cash receipts from the maturity of the 2002 monetized notes .', '( d ) the cash payments include both interest and principal on the associated debt obligations .', 'on may 31 , 2011 , the third-party equity holder of the 2002 financing entities retired its class a interest in the entities for $ 51 million .', 'as a result of the retire- ment , effective may 31 , 2011 , international paper owned 100% ( 100 % ) of the 2002 financing entities .', 'based on an analysis performed by the company after the retirement , under guidance that considers the poten- tial magnitude of the variability in the structure and which party has controlling financial interest , international paper determined that it was the pri- mary beneficiary of the 2002 financing entities and thus consolidated the entities effective may 31 , 2011 .', 'during the year ended december 31 , 2011 approx- imately $ 191 million of the 2002 monetized notes matured .', 'outstanding debt related to these entities of $ 158 million is included in floating rate notes due 2011 2013 2017 in the summary of long-term debt in note 12 at december 31 , 2011 .', 'as of may 31 , 2012 , this debt had been repaid .', 'during the year ended december 31 , 2012 , $ 252 mil- lion of the 2002 monetized notes matured .', 'as of result of these maturities , accounts and notes receivable decreased $ 252 million and notes payable and current maturities of long-term debt decreased $ 158 million .', 'deferred tax liabilities associated with the 2002 forestland installment sales decreased $ 67 million .', 'effective june 1 , 2012 , international paper liquidated its interest in the 2002 financing entities .', 'the use of the above entities facilitated the mone- tization of the credit enhanced timber and mone- tized notes in a cost effective manner by increasing the borrowing capacity and lowering the interest rate while continuing to preserve the tax deferral that resulted from the forestlands installment sales and the offset accounting treatment described above .', 'in connection with the acquisition of temple-inland in february 2012 , two special purpose entities became wholly-owned subsidiaries of international paper .', 'in october 2007 , temple-inland sold 1.55 million acres of timberlands for $ 2.38 billion .', 'the total con- sideration consisted almost entirely of notes due in 2027 issued by the buyer of the timberlands , which temple-inland contributed to two wholly-owned , bankruptcy-remote special purpose entities .', 'the notes are shown in financial assets of special pur- pose entities in the accompanying consolidated balance sheet and are supported by $ 2.38 billion of irrevocable letters of credit issued by three banks , which are required to maintain minimum credit rat- ings on their long-term debt .', 'in the third quarter of 2012 , international paper completed is preliminary analysis of the acquisition date fair value of the notes and determined it to be $ 2.09 billion .', 'as a result of this analysis , financial assets of special purposed entities decreased by $ 292 million and goodwill increased by the same amount .', 'as of december 31 , 2012 , the fair value of the notes was $ 2.21 billion .', 'in december 2007 , temple-inland 2019s two wholly- owned special purpose entities borrowed $ 2.14 bil- lion shown in nonrecourse financial liabilities of special purpose entities in the accompanying con- solidated balance sheet .', 'the loans are repayable in 2027 and are secured only by the $ 2.38 billion of notes and the irrevocable letters of credit securing the notes and are nonrecourse to the company .', 'the loan agreements provide that if a credit rating of any of the banks issuing the letters of credit is down- graded below the specified threshold , the letters of credit issued by that bank must be replaced within 30 days with letters of credit from another qualifying financial institution .', 'in the third quarter of 2012 , international paper completed its preliminary analy- sis of the acquisition date fair value of the borrow- ings and determined it to be $ 2.03 billion .', 'as a result of this analysis , nonrecourse financial liabilities of special purpose entities decreased by $ 110 million and goodwill decreased by the same amount .', 'as of december 31 , 2012 , the fair value of this debt was $ 2.12 billion .', 'the buyer of the temple-inland timberland issued the $ 2.38 billion in notes from its wholly-owned , bankruptcy-remote special purpose entities .', 'the buyer 2019s special purpose entities held the timberlands from the transaction date until november 2008 , at which time the timberlands were transferred out of the buyer 2019s special purpose entities .', 'due to the transfer of the timberlands , temple-inland evaluated the buyer 2019s special purpose entities and determined that they were variable interest entities and that temple-inland was the primary beneficiary .', 'as a result , in 2008 , temple-inland .'] | 0.09 | IP/2012/page_98.pdf-3 | ['determined that it was the primary beneficiary of the 2001 financing entities and thus consolidated the entities effective march 16 , 2011 .', 'effective april 30 , 2011 , international paper liquidated its interest in the 2001 financing entities .', 'activity between the company and the 2002 financ- ing entities was as follows: .'] | ['( a ) the revenue is included in equity earnings ( loss ) , net of tax in the accompanying consolidated statement of operations .', '( b ) the expense is included in interest expense , net in the accom- panying consolidated statement of operations .', '( c ) the cash receipts are equity distributions from the 2002 financ- ing entities to international paper and cash receipts from the maturity of the 2002 monetized notes .', '( d ) the cash payments include both interest and principal on the associated debt obligations .', 'on may 31 , 2011 , the third-party equity holder of the 2002 financing entities retired its class a interest in the entities for $ 51 million .', 'as a result of the retire- ment , effective may 31 , 2011 , international paper owned 100% ( 100 % ) of the 2002 financing entities .', 'based on an analysis performed by the company after the retirement , under guidance that considers the poten- tial magnitude of the variability in the structure and which party has controlling financial interest , international paper determined that it was the pri- mary beneficiary of the 2002 financing entities and thus consolidated the entities effective may 31 , 2011 .', 'during the year ended december 31 , 2011 approx- imately $ 191 million of the 2002 monetized notes matured .', 'outstanding debt related to these entities of $ 158 million is included in floating rate notes due 2011 2013 2017 in the summary of long-term debt in note 12 at december 31 , 2011 .', 'as of may 31 , 2012 , this debt had been repaid .', 'during the year ended december 31 , 2012 , $ 252 mil- lion of the 2002 monetized notes matured .', 'as of result of these maturities , accounts and notes receivable decreased $ 252 million and notes payable and current maturities of long-term debt decreased $ 158 million .', 'deferred tax liabilities associated with the 2002 forestland installment sales decreased $ 67 million .', 'effective june 1 , 2012 , international paper liquidated its interest in the 2002 financing entities .', 'the use of the above entities facilitated the mone- tization of the credit enhanced timber and mone- tized notes in a cost effective manner by increasing the borrowing capacity and lowering the interest rate while continuing to preserve the tax deferral that resulted from the forestlands installment sales and the offset accounting treatment described above .', 'in connection with the acquisition of temple-inland in february 2012 , two special purpose entities became wholly-owned subsidiaries of international paper .', 'in october 2007 , temple-inland sold 1.55 million acres of timberlands for $ 2.38 billion .', 'the total con- sideration consisted almost entirely of notes due in 2027 issued by the buyer of the timberlands , which temple-inland contributed to two wholly-owned , bankruptcy-remote special purpose entities .', 'the notes are shown in financial assets of special pur- pose entities in the accompanying consolidated balance sheet and are supported by $ 2.38 billion of irrevocable letters of credit issued by three banks , which are required to maintain minimum credit rat- ings on their long-term debt .', 'in the third quarter of 2012 , international paper completed is preliminary analysis of the acquisition date fair value of the notes and determined it to be $ 2.09 billion .', 'as a result of this analysis , financial assets of special purposed entities decreased by $ 292 million and goodwill increased by the same amount .', 'as of december 31 , 2012 , the fair value of the notes was $ 2.21 billion .', 'in december 2007 , temple-inland 2019s two wholly- owned special purpose entities borrowed $ 2.14 bil- lion shown in nonrecourse financial liabilities of special purpose entities in the accompanying con- solidated balance sheet .', 'the loans are repayable in 2027 and are secured only by the $ 2.38 billion of notes and the irrevocable letters of credit securing the notes and are nonrecourse to the company .', 'the loan agreements provide that if a credit rating of any of the banks issuing the letters of credit is down- graded below the specified threshold , the letters of credit issued by that bank must be replaced within 30 days with letters of credit from another qualifying financial institution .', 'in the third quarter of 2012 , international paper completed its preliminary analy- sis of the acquisition date fair value of the borrow- ings and determined it to be $ 2.03 billion .', 'as a result of this analysis , nonrecourse financial liabilities of special purpose entities decreased by $ 110 million and goodwill decreased by the same amount .', 'as of december 31 , 2012 , the fair value of this debt was $ 2.12 billion .', 'the buyer of the temple-inland timberland issued the $ 2.38 billion in notes from its wholly-owned , bankruptcy-remote special purpose entities .', 'the buyer 2019s special purpose entities held the timberlands from the transaction date until november 2008 , at which time the timberlands were transferred out of the buyer 2019s special purpose entities .', 'due to the transfer of the timberlands , temple-inland evaluated the buyer 2019s special purpose entities and determined that they were variable interest entities and that temple-inland was the primary beneficiary .', 'as a result , in 2008 , temple-inland .'] | ----------------------------------------
Row 1: in millions, 2012, 2011, 2010
Row 2: revenue ( loss ) ( a ), $ 2014, $ 2, $ 5
Row 3: expense ( b ), 2014, 3, 8
Row 4: cash receipts ( c ), 252, 192, 3
Row 5: cash payments ( d ), 159, 244, 8
---------------------------------------- | subtract(2.12, 2.03) | 0.09 |
during 2018 what was the net purchase of common shares in millions? | Background: ['2018 emerson annual report | 51 as of september 30 , 2018 , 1874750 shares awarded primarily in 2016 were outstanding , contingent on the company achieving its performance objectives through 2018 .', 'the objectives for these shares were met at the 97 percent level at the end of 2018 and 1818508 shares will be distributed in early 2019 .', 'additionally , the rights to receive a maximum of 2261700 and 2375313 common shares were awarded in 2018 and 2017 , respectively , under the new performance shares program , and are outstanding and contingent upon the company achieving its performance objectives through 2020 and 2019 , respectively .', 'incentive shares plans also include restricted stock awards which involve distribution of common stock to key management employees subject to cliff vesting at the end of service periods ranging from three to ten years .', 'the fair value of restricted stock awards is determined based on the average of the high and low market prices of the company 2019s common stock on the date of grant , with compensation expense recognized ratably over the applicable service period .', 'in 2018 , 310000 shares of restricted stock vested as a result of participants fulfilling the applicable service requirements .', 'consequently , 167837 shares were issued while 142163 shares were withheld for income taxes in accordance with minimum withholding requirements .', 'as of september 30 , 2018 , there were 1276200 shares of unvested restricted stock outstanding .', 'the total fair value of shares distributed under incentive shares plans was $ 20 , $ 245 and $ 11 , respectively , in 2018 , 2017 and 2016 , of which $ 9 , $ 101 and $ 4 was paid in cash , primarily for tax withholding .', 'as of september 30 , 2018 , 10.3 million shares remained available for award under incentive shares plans .', 'changes in shares outstanding but not yet earned under incentive shares plans during the year ended september 30 , 2018 follow ( shares in thousands ; assumes 100 percent payout of unvested awards ) : average grant date shares fair value per share .']
Tabular Data:
========================================
• , shares, average grant datefair value per share
• beginning of year, 4999, $ 50.33
• granted, 2295, $ 63.79
• earned/vested, -310 ( 310 ), $ 51.27
• canceled, -86 ( 86 ), $ 56.53
• end of year, 6898, $ 54.69
========================================
Post-table: ['total compensation expense for stock options and incentive shares was $ 216 , $ 115 and $ 159 for 2018 , 2017 and 2016 , respectively , of which $ 5 and $ 14 was included in discontinued operations for 2017 and 2016 , respectively .', 'the increase in expense for 2018 reflects an increase in the company 2019s stock price and progress toward achieving its performance objectives .', 'the decrease in expense for 2017 reflects the impact of changes in the stock price .', 'income tax benefits recognized in the income statement for these compensation arrangements during 2018 , 2017 and 2016 were $ 42 , $ 33 and $ 45 , respectively .', 'as of september 30 , 2018 , total unrecognized compensation expense related to unvested shares awarded under these plans was $ 182 , which is expected to be recognized over a weighted-average period of 1.1 years .', 'in addition to the employee stock option and incentive shares plans , in 2018 the company awarded 12228 shares of restricted stock and 2038 restricted stock units under the restricted stock plan for non-management directors .', 'as of september 30 , 2018 , 159965 shares were available for issuance under this plan .', '( 16 ) common and preferred stock at september 30 , 2018 , 37.0 million shares of common stock were reserved for issuance under the company 2019s stock-based compensation plans .', 'during 2018 , 15.1 million common shares were purchased and 2.6 million treasury shares were reissued .', 'in 2017 , 6.6 million common shares were purchased and 5.5 million treasury shares were reissued .', 'at september 30 , 2018 and 2017 , the company had 5.4 million shares of $ 2.50 par value preferred stock authorized , with none issued. .'] | 12.5 | EMR/2018/page_55.pdf-1 | ['2018 emerson annual report | 51 as of september 30 , 2018 , 1874750 shares awarded primarily in 2016 were outstanding , contingent on the company achieving its performance objectives through 2018 .', 'the objectives for these shares were met at the 97 percent level at the end of 2018 and 1818508 shares will be distributed in early 2019 .', 'additionally , the rights to receive a maximum of 2261700 and 2375313 common shares were awarded in 2018 and 2017 , respectively , under the new performance shares program , and are outstanding and contingent upon the company achieving its performance objectives through 2020 and 2019 , respectively .', 'incentive shares plans also include restricted stock awards which involve distribution of common stock to key management employees subject to cliff vesting at the end of service periods ranging from three to ten years .', 'the fair value of restricted stock awards is determined based on the average of the high and low market prices of the company 2019s common stock on the date of grant , with compensation expense recognized ratably over the applicable service period .', 'in 2018 , 310000 shares of restricted stock vested as a result of participants fulfilling the applicable service requirements .', 'consequently , 167837 shares were issued while 142163 shares were withheld for income taxes in accordance with minimum withholding requirements .', 'as of september 30 , 2018 , there were 1276200 shares of unvested restricted stock outstanding .', 'the total fair value of shares distributed under incentive shares plans was $ 20 , $ 245 and $ 11 , respectively , in 2018 , 2017 and 2016 , of which $ 9 , $ 101 and $ 4 was paid in cash , primarily for tax withholding .', 'as of september 30 , 2018 , 10.3 million shares remained available for award under incentive shares plans .', 'changes in shares outstanding but not yet earned under incentive shares plans during the year ended september 30 , 2018 follow ( shares in thousands ; assumes 100 percent payout of unvested awards ) : average grant date shares fair value per share .'] | ['total compensation expense for stock options and incentive shares was $ 216 , $ 115 and $ 159 for 2018 , 2017 and 2016 , respectively , of which $ 5 and $ 14 was included in discontinued operations for 2017 and 2016 , respectively .', 'the increase in expense for 2018 reflects an increase in the company 2019s stock price and progress toward achieving its performance objectives .', 'the decrease in expense for 2017 reflects the impact of changes in the stock price .', 'income tax benefits recognized in the income statement for these compensation arrangements during 2018 , 2017 and 2016 were $ 42 , $ 33 and $ 45 , respectively .', 'as of september 30 , 2018 , total unrecognized compensation expense related to unvested shares awarded under these plans was $ 182 , which is expected to be recognized over a weighted-average period of 1.1 years .', 'in addition to the employee stock option and incentive shares plans , in 2018 the company awarded 12228 shares of restricted stock and 2038 restricted stock units under the restricted stock plan for non-management directors .', 'as of september 30 , 2018 , 159965 shares were available for issuance under this plan .', '( 16 ) common and preferred stock at september 30 , 2018 , 37.0 million shares of common stock were reserved for issuance under the company 2019s stock-based compensation plans .', 'during 2018 , 15.1 million common shares were purchased and 2.6 million treasury shares were reissued .', 'in 2017 , 6.6 million common shares were purchased and 5.5 million treasury shares were reissued .', 'at september 30 , 2018 and 2017 , the company had 5.4 million shares of $ 2.50 par value preferred stock authorized , with none issued. .'] | ========================================
• , shares, average grant datefair value per share
• beginning of year, 4999, $ 50.33
• granted, 2295, $ 63.79
• earned/vested, -310 ( 310 ), $ 51.27
• canceled, -86 ( 86 ), $ 56.53
• end of year, 6898, $ 54.69
======================================== | subtract(15.1, 2.6) | 12.5 |
what was the change in millions in net interest income between 2011 and 2012? | 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 .']
Data 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 .'] | 940.0 | PNC/2012/page_58.pdf-6 | ['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 % ) | subtract(9640, 8700) | 940.0 |
what portion of total backlog is related to ingalls segment? | Context: ['uss abraham lincoln rcoh , the construction preparation contract for cvn-79 john f .', 'kennedy and the inactivation contract for cvn-65 uss enterprise , partially offset by lower volumes on the execution contract for the cvn-71 uss theodore roosevelt rcoh and the construction and engineering contracts for cvn-78 gerald r .', 'ford .', 'higher revenues in fleet support services were primarily the result of volumes associated with repair work on ssn-765 uss montpelier .', 'increased submarines revenues were related to the ssn-774 virginia-class submarine program , primarily driven by higher volumes on block iii boats and the advance procurement contract on block iv boats , partially offset by lower volumes on block ii boats following the delivery of ssn-783 uss minnesota .', 'segment operating income 2014 - newport news operating income in 2014 was $ 415 million , compared to income of $ 402 million in 2013 .', 'the increase was primarily related to the volume changes discussed above and higher risk retirement on the construction contract for cvn-78 gerald r .', 'ford , offset by lower risk retirement on the cvn-71 uss theodore roosevelt rcoh .', '2013 - newport news operating income in 2013 was $ 402 million , compared to income of $ 372 million in 2012 .', "the increase was primarily related to the ssn-774 virginia-class submarine program , driven by risk retirement , performance improvement and the favorable resolution of outstanding contract changes , as well as risk retirement on the execution contract for the cvn-71 uss theodore roosevelt rcoh and the absence in 2013 of the workers' compensation expense adjustment recorded in 2012 , partially offset by the favorable resolution in 2012 of outstanding contract changes on the cvn-65 uss enterprise edsra .", 'revenues at our other segment for the year ended december 31 , 2014 , were $ 137 million , primarily due to the acquisition of upi on may 30 , 2014 .', 'other operating loss for the year ended december 31 , 2014 , was $ 59 million , primarily due to the goodwill impairment charge of $ 47 million described above .', 'backlog total backlog as of december 31 , 2014 , was approximately $ 21 billion .', 'total backlog includes both funded backlog ( firm orders for which funding is contractually obligated by the customer ) and unfunded backlog ( firm orders for which funding is not currently contractually obligated by the customer ) .', 'backlog excludes unexercised contract options and unfunded indefinite delivery/indefinite quantity orders .', 'for contracts having no stated contract values , backlog includes only the amounts committed by the customer .', 'the following table presents funded and unfunded backlog by segment as of december 31 , 2014 and 2013: .']
----------
Data Table:
• ( $ in millions ), december 31 2014 funded, december 31 2014 unfunded, december 31 2014 total backlog, december 31 2014 funded, december 31 2014 unfunded, total backlog
• ingalls, $ 5609, $ 1889, $ 7498, $ 6335, $ 2570, $ 8905
• newport news, 6158, 7709, 13867, 5495, 3638, 9133
• other, 65, 2014, 65, 2014, 2014, 2014
• total backlog, $ 11832, $ 9598, $ 21430, $ 11830, $ 6208, $ 18038
----------
Post-table: ['we expect approximately 28% ( 28 % ) of the $ 21 billion total backlog as of december 31 , 2014 , to be converted into sales in 2015 .', 'u.s .', 'government orders comprised substantially all of the backlog as of december 31 , 2014 and 2013 .', 'awards 2014 - the value of new contract awards during the year ended december 31 , 2014 , was approximately $ 10.1 billion .', 'significant new awards in 2014 included contracts for block iv of the ssn-774 virginia-class submarine program , continued construction preparation for cvn-79 john f .', 'kennedy and construction of nsc-7 kimball .', '2013 - the value of new contract awards during the year ended december 31 , 2013 , was approximately $ 9.4 billion .', 'significant new awards in 2013 included contracts for the construction of five ddg-51 arleigh burke-class this proof is printed at 96% ( 96 % ) of original size this line represents final trim and will not print .'] | 0.49368 | HII/2014/page_69.pdf-1 | ['uss abraham lincoln rcoh , the construction preparation contract for cvn-79 john f .', 'kennedy and the inactivation contract for cvn-65 uss enterprise , partially offset by lower volumes on the execution contract for the cvn-71 uss theodore roosevelt rcoh and the construction and engineering contracts for cvn-78 gerald r .', 'ford .', 'higher revenues in fleet support services were primarily the result of volumes associated with repair work on ssn-765 uss montpelier .', 'increased submarines revenues were related to the ssn-774 virginia-class submarine program , primarily driven by higher volumes on block iii boats and the advance procurement contract on block iv boats , partially offset by lower volumes on block ii boats following the delivery of ssn-783 uss minnesota .', 'segment operating income 2014 - newport news operating income in 2014 was $ 415 million , compared to income of $ 402 million in 2013 .', 'the increase was primarily related to the volume changes discussed above and higher risk retirement on the construction contract for cvn-78 gerald r .', 'ford , offset by lower risk retirement on the cvn-71 uss theodore roosevelt rcoh .', '2013 - newport news operating income in 2013 was $ 402 million , compared to income of $ 372 million in 2012 .', "the increase was primarily related to the ssn-774 virginia-class submarine program , driven by risk retirement , performance improvement and the favorable resolution of outstanding contract changes , as well as risk retirement on the execution contract for the cvn-71 uss theodore roosevelt rcoh and the absence in 2013 of the workers' compensation expense adjustment recorded in 2012 , partially offset by the favorable resolution in 2012 of outstanding contract changes on the cvn-65 uss enterprise edsra .", 'revenues at our other segment for the year ended december 31 , 2014 , were $ 137 million , primarily due to the acquisition of upi on may 30 , 2014 .', 'other operating loss for the year ended december 31 , 2014 , was $ 59 million , primarily due to the goodwill impairment charge of $ 47 million described above .', 'backlog total backlog as of december 31 , 2014 , was approximately $ 21 billion .', 'total backlog includes both funded backlog ( firm orders for which funding is contractually obligated by the customer ) and unfunded backlog ( firm orders for which funding is not currently contractually obligated by the customer ) .', 'backlog excludes unexercised contract options and unfunded indefinite delivery/indefinite quantity orders .', 'for contracts having no stated contract values , backlog includes only the amounts committed by the customer .', 'the following table presents funded and unfunded backlog by segment as of december 31 , 2014 and 2013: .'] | ['we expect approximately 28% ( 28 % ) of the $ 21 billion total backlog as of december 31 , 2014 , to be converted into sales in 2015 .', 'u.s .', 'government orders comprised substantially all of the backlog as of december 31 , 2014 and 2013 .', 'awards 2014 - the value of new contract awards during the year ended december 31 , 2014 , was approximately $ 10.1 billion .', 'significant new awards in 2014 included contracts for block iv of the ssn-774 virginia-class submarine program , continued construction preparation for cvn-79 john f .', 'kennedy and construction of nsc-7 kimball .', '2013 - the value of new contract awards during the year ended december 31 , 2013 , was approximately $ 9.4 billion .', 'significant new awards in 2013 included contracts for the construction of five ddg-51 arleigh burke-class this proof is printed at 96% ( 96 % ) of original size this line represents final trim and will not print .'] | • ( $ in millions ), december 31 2014 funded, december 31 2014 unfunded, december 31 2014 total backlog, december 31 2014 funded, december 31 2014 unfunded, total backlog
• ingalls, $ 5609, $ 1889, $ 7498, $ 6335, $ 2570, $ 8905
• newport news, 6158, 7709, 13867, 5495, 3638, 9133
• other, 65, 2014, 65, 2014, 2014, 2014
• total backlog, $ 11832, $ 9598, $ 21430, $ 11830, $ 6208, $ 18038 | divide(8905, 18038) | 0.49368 |
what was the total revenues for 2011 and 2010 , in millions? | Pre-text: ['2022 increased proved liquid hydrocarbon , including synthetic crude oil , reserves to 78 percent from 75 percent of proved reserves 2022 increased e&p net sales volumes , excluding libya , by 7 percent 2022 recorded 96 percent average operational availability for all major company-operated e&p assets , compared to 94 percent in 2010 2022 completed debottlenecking work that increased crude oil production capacity at the alvheim fpso in norway to 150000 gross bbld from the previous capacity of 142000 gross bbld and the original 2008 capacity of 120000 gross bbld 2022 announced two non-operated discoveries in the iraqi kurdistan region and began drilling in poland 2022 completed aosp expansion 1 , including the start-up of the expanded scotford upgrader , realizing an increase in net synthetic crude oil sales volumes of 48 percent 2022 completed dispositions of non-core assets and interests in acreage positions for net proceeds of $ 518 million 2022 repurchased 12 million shares of our common stock at a cost of $ 300 million 2022 retired $ 2498 million principal of our long-term debt 2022 resumed limited production in libya in the fourth quarter of 2011 following the february 2011 temporary suspension of operations consolidated results of operations : 2011 compared to 2010 due to the spin-off of our downstream business on june 30 , 2011 , which is reported as discontinued operations , income from continuing operations is more representative of marathon oil as an independent energy company .', 'consolidated income from continuing operations before income taxes was 9 percent higher in 2011 than in 2010 , largely due to higher liquid hydrocarbon prices .', 'this improvement was offset by increased income taxes primarily the result of excess foreign tax credits generated during 2011 that we do not expect to utilize in the future .', 'the effective income tax rate for continuing operations was 61 percent in 2011 compared to 54 percent in 2010 .', 'revenues are summarized in the following table : ( in millions ) 2011 2010 .']
Table:
========================================
( in millions ) | 2011 | 2010
e&p | $ 13029 | $ 10782
osm | 1588 | 833
ig | 93 | 150
segment revenues | 14710 | 11765
elimination of intersegment revenues | -47 ( 47 ) | -75 ( 75 )
total revenues | $ 14663 | $ 11690
========================================
Additional Information: ['e&p segment revenues increased $ 2247 million from 2010 to 2011 , primarily due to higher average liquid hydrocarbon realizations , which were $ 99.37 per bbl in 2011 , a 31 percent increase over 2010 .', 'revenues in 2010 included net pre-tax gains of $ 95 million on derivative instruments intended to mitigate price risk on future sales of liquid hydrocarbons and natural gas .', 'included in our e&p segment are supply optimization activities which include the purchase of commodities from third parties for resale .', 'supply optimization serves to aggregate volumes in order to satisfy transportation commitments and to achieve flexibility within product types and delivery points .', 'see the cost of revenues discussion as revenues from supply optimization approximate the related costs .', 'higher average crude oil prices in 2011 compared to 2010 increased revenues related to supply optimization .', 'revenues from the sale of our u.s .', 'production are higher in 2011 primarily as a result of higher liquid hydrocarbon and natural gas price realizations , but sales volumes declined. .'] | 26353.0 | MRO/2011/page_39.pdf-2 | ['2022 increased proved liquid hydrocarbon , including synthetic crude oil , reserves to 78 percent from 75 percent of proved reserves 2022 increased e&p net sales volumes , excluding libya , by 7 percent 2022 recorded 96 percent average operational availability for all major company-operated e&p assets , compared to 94 percent in 2010 2022 completed debottlenecking work that increased crude oil production capacity at the alvheim fpso in norway to 150000 gross bbld from the previous capacity of 142000 gross bbld and the original 2008 capacity of 120000 gross bbld 2022 announced two non-operated discoveries in the iraqi kurdistan region and began drilling in poland 2022 completed aosp expansion 1 , including the start-up of the expanded scotford upgrader , realizing an increase in net synthetic crude oil sales volumes of 48 percent 2022 completed dispositions of non-core assets and interests in acreage positions for net proceeds of $ 518 million 2022 repurchased 12 million shares of our common stock at a cost of $ 300 million 2022 retired $ 2498 million principal of our long-term debt 2022 resumed limited production in libya in the fourth quarter of 2011 following the february 2011 temporary suspension of operations consolidated results of operations : 2011 compared to 2010 due to the spin-off of our downstream business on june 30 , 2011 , which is reported as discontinued operations , income from continuing operations is more representative of marathon oil as an independent energy company .', 'consolidated income from continuing operations before income taxes was 9 percent higher in 2011 than in 2010 , largely due to higher liquid hydrocarbon prices .', 'this improvement was offset by increased income taxes primarily the result of excess foreign tax credits generated during 2011 that we do not expect to utilize in the future .', 'the effective income tax rate for continuing operations was 61 percent in 2011 compared to 54 percent in 2010 .', 'revenues are summarized in the following table : ( in millions ) 2011 2010 .'] | ['e&p segment revenues increased $ 2247 million from 2010 to 2011 , primarily due to higher average liquid hydrocarbon realizations , which were $ 99.37 per bbl in 2011 , a 31 percent increase over 2010 .', 'revenues in 2010 included net pre-tax gains of $ 95 million on derivative instruments intended to mitigate price risk on future sales of liquid hydrocarbons and natural gas .', 'included in our e&p segment are supply optimization activities which include the purchase of commodities from third parties for resale .', 'supply optimization serves to aggregate volumes in order to satisfy transportation commitments and to achieve flexibility within product types and delivery points .', 'see the cost of revenues discussion as revenues from supply optimization approximate the related costs .', 'higher average crude oil prices in 2011 compared to 2010 increased revenues related to supply optimization .', 'revenues from the sale of our u.s .', 'production are higher in 2011 primarily as a result of higher liquid hydrocarbon and natural gas price realizations , but sales volumes declined. .'] | ========================================
( in millions ) | 2011 | 2010
e&p | $ 13029 | $ 10782
osm | 1588 | 833
ig | 93 | 150
segment revenues | 14710 | 11765
elimination of intersegment revenues | -47 ( 47 ) | -75 ( 75 )
total revenues | $ 14663 | $ 11690
======================================== | add(14663, 11690) | 26353.0 |
what is the growth rate in the number of stores during 2011? | Background: ['the following table sets forth information concerning increases in the total number of our aap stores during the past five years: .']
--------
Tabular Data:
----------------------------------------
| 2012 | 2011 | 2010 | 2009 | 2008
----------|----------|----------|----------|----------|----------
beginning stores | 3460 | 3369 | 3264 | 3243 | 3153
new stores ( 1 ) | 116 | 95 | 110 | 75 | 109
stores closed | 2014 | -4 ( 4 ) | -5 ( 5 ) | -54 ( 54 ) | -19 ( 19 )
ending stores | 3576 | 3460 | 3369 | 3264 | 3243
----------------------------------------
--------
Follow-up: ['( 1 ) does not include stores that opened as relocations of previously existing stores within the same general market area or substantial renovations of stores .', 'store technology .', 'our store-based information systems are comprised of a proprietary and integrated point of sale , electronic parts catalog , or epc , and store-level inventory management system ( collectively "store system" ) .', 'information maintained by our store system is used to formulate pricing , marketing and merchandising strategies and to replenish inventory accurately and rapidly .', 'our fully integrated system enables our store team members to assist our customers in their parts selection and ordering based on the year , make , model and engine type of their vehicles .', 'our store system provides real-time inventory tracking at the store level allowing store team members to check the quantity of on-hand inventory for any sku , adjust stock levels for select items for store specific events , automatically process returns and defective merchandise , designate skus for cycle counts and track merchandise transfers .', 'if a hard-to-find part or accessory is not available at one of our stores , the store system can determine whether the part is carried and in-stock through our hub or pdq ae networks or can be ordered directly from one of our vendors .', 'available parts and accessories are then ordered electronically from another store , hub , pdq ae or directly from the vendor with immediate confirmation of price , availability and estimated delivery time .', 'our centrally-based epc data management system enables us to reduce the time needed to ( i ) exchange data with our vendors and ( ii ) catalog and deliver updated , accurate parts information .', 'we also support our store operations with additional proprietary systems and customer driven labor scheduling capabilities .', 'all of these systems are tightly integrated and provide real-time , comprehensive information to store personnel , resulting in improved customer service levels , team member productivity and in-stock availability .', 'we plan to start rolling out a new and enhanced epc in fiscal 2013 which is expected to simplify and improve the customer experience .', 'among the improvements is a more efficient way to systematically identify add-on sales to ensure our customers have what they need to complete their automotive repair project .', 'store support center merchandising .', 'purchasing for virtually all of the merchandise for our stores is handled by our merchandise teams located in three primary locations : 2022 store support center in roanoke , virginia ; 2022 regional office in minneapolis , minnesota ; and 2022 global sourcing office in taipei , taiwan .', 'our roanoke team is primarily responsible for the parts categories and our minnesota team is primarily responsible for accessories , oil and chemicals .', 'our global sourcing team works closely with both teams .', 'in fiscal 2012 , we purchased merchandise from approximately 450 vendors , with no single vendor accounting for more than 9% ( 9 % ) of purchases .', 'our purchasing strategy involves negotiating agreements with most of our vendors to purchase merchandise over a specified period of time along with other terms , including pricing , payment terms and volume .', 'the merchandising team has developed strong vendor relationships in the industry and , in a collaborative effort with our vendor partners , utilizes a category management process where we manage the mix of our product offerings to meet customer demand .', 'we believe this process , which develops a customer-focused business plan for each merchandise category , and our global sourcing operation are critical to improving comparable store sales , gross margin and inventory productivity. .'] | 0.02701 | AAP/2012/page_12.pdf-2 | ['the following table sets forth information concerning increases in the total number of our aap stores during the past five years: .'] | ['( 1 ) does not include stores that opened as relocations of previously existing stores within the same general market area or substantial renovations of stores .', 'store technology .', 'our store-based information systems are comprised of a proprietary and integrated point of sale , electronic parts catalog , or epc , and store-level inventory management system ( collectively "store system" ) .', 'information maintained by our store system is used to formulate pricing , marketing and merchandising strategies and to replenish inventory accurately and rapidly .', 'our fully integrated system enables our store team members to assist our customers in their parts selection and ordering based on the year , make , model and engine type of their vehicles .', 'our store system provides real-time inventory tracking at the store level allowing store team members to check the quantity of on-hand inventory for any sku , adjust stock levels for select items for store specific events , automatically process returns and defective merchandise , designate skus for cycle counts and track merchandise transfers .', 'if a hard-to-find part or accessory is not available at one of our stores , the store system can determine whether the part is carried and in-stock through our hub or pdq ae networks or can be ordered directly from one of our vendors .', 'available parts and accessories are then ordered electronically from another store , hub , pdq ae or directly from the vendor with immediate confirmation of price , availability and estimated delivery time .', 'our centrally-based epc data management system enables us to reduce the time needed to ( i ) exchange data with our vendors and ( ii ) catalog and deliver updated , accurate parts information .', 'we also support our store operations with additional proprietary systems and customer driven labor scheduling capabilities .', 'all of these systems are tightly integrated and provide real-time , comprehensive information to store personnel , resulting in improved customer service levels , team member productivity and in-stock availability .', 'we plan to start rolling out a new and enhanced epc in fiscal 2013 which is expected to simplify and improve the customer experience .', 'among the improvements is a more efficient way to systematically identify add-on sales to ensure our customers have what they need to complete their automotive repair project .', 'store support center merchandising .', 'purchasing for virtually all of the merchandise for our stores is handled by our merchandise teams located in three primary locations : 2022 store support center in roanoke , virginia ; 2022 regional office in minneapolis , minnesota ; and 2022 global sourcing office in taipei , taiwan .', 'our roanoke team is primarily responsible for the parts categories and our minnesota team is primarily responsible for accessories , oil and chemicals .', 'our global sourcing team works closely with both teams .', 'in fiscal 2012 , we purchased merchandise from approximately 450 vendors , with no single vendor accounting for more than 9% ( 9 % ) of purchases .', 'our purchasing strategy involves negotiating agreements with most of our vendors to purchase merchandise over a specified period of time along with other terms , including pricing , payment terms and volume .', 'the merchandising team has developed strong vendor relationships in the industry and , in a collaborative effort with our vendor partners , utilizes a category management process where we manage the mix of our product offerings to meet customer demand .', 'we believe this process , which develops a customer-focused business plan for each merchandise category , and our global sourcing operation are critical to improving comparable store sales , gross margin and inventory productivity. .'] | ----------------------------------------
| 2012 | 2011 | 2010 | 2009 | 2008
----------|----------|----------|----------|----------|----------
beginning stores | 3460 | 3369 | 3264 | 3243 | 3153
new stores ( 1 ) | 116 | 95 | 110 | 75 | 109
stores closed | 2014 | -4 ( 4 ) | -5 ( 5 ) | -54 ( 54 ) | -19 ( 19 )
ending stores | 3576 | 3460 | 3369 | 3264 | 3243
---------------------------------------- | subtract(3460, 3369), divide(#0, 3369) | 0.02701 |
what are the total market making revenues in the consolidated statements of earnings of 2017 , in billions? | Background: ['the goldman sachs group , inc .', 'and subsidiaries management 2019s discussion and analysis commissions and fees in the consolidated statements of earnings were $ 3.20 billion for 2018 , 5% ( 5 % ) higher than 2017 , reflecting an increase in our listed cash equity and futures volumes , generally consistent with market volumes .', 'market making revenues in the consolidated statements of earnings were $ 9.45 billion for 2018 , 23% ( 23 % ) higher than 2017 , due to significantly higher revenues in equity products , interest rate products and commodities .', 'these increases were partially offset by significantly lower results in mortgages and lower revenues in credit products .', 'other principal transactions revenues in the consolidated statements of earnings were $ 5.82 billion for 2018 , 2% ( 2 % ) lower than 2017 , reflecting net losses from investments in public equities compared with net gains in the prior year , partially offset by significantly higher net gains from investments in private equities , driven by company-specific events , including sales , and corporate performance .', 'net interest income .', 'net interest income in the consolidated statements of earnings was $ 3.77 billion for 2018 , 28% ( 28 % ) higher than 2017 , reflecting an increase in interest income primarily due to the impact of higher interest rates on collateralized agreements , other interest-earning assets and deposits with banks , increases in total average loans receivable and financial instruments owned , and higher yields on financial instruments owned and loans receivable .', 'the increase in interest income was partially offset by higher interest expense primarily due to the impact of higher interest rates on other interest-bearing liabilities , collateralized financings , deposits and long-term borrowings , and increases in total average long-term borrowings and deposits .', 'see 201cstatistical disclosures 2014 distribution of assets , liabilities and shareholders 2019 equity 201d for further information about our sources of net interest income .', '2017 versus 2016 net revenues in the consolidated statements of earnings were $ 32.73 billion for 2017 , 6% ( 6 % ) higher than 2016 , due to significantly higher other principal transactions revenues , and higher investment banking revenues , investment management revenues and net interest income .', 'these increases were partially offset by significantly lower market making revenues and lower commissions and fees .', 'non-interest revenues .', 'investment banking revenues in the consolidated statements of earnings were $ 7.37 billion for 2017 , 18% ( 18 % ) higher than 2016 .', 'revenues in financial advisory were higher compared with 2016 , reflecting an increase in completed mergers and acquisitions transactions .', 'revenues in underwriting were significantly higher compared with 2016 , due to significantly higher revenues in both debt underwriting , primarily reflecting an increase in industry-wide leveraged finance activity , and equity underwriting , reflecting an increase in industry-wide secondary offerings .', 'investment management revenues in the consolidated statements of earnings were $ 5.80 billion for 2017 , 7% ( 7 % ) higher than 2016 , due to higher management and other fees , reflecting higher average assets under supervision , and higher transaction revenues .', 'commissions and fees in the consolidated statements of earnings were $ 3.05 billion for 2017 , 5% ( 5 % ) lower than 2016 , reflecting a decline in our listed cash equity volumes in the u.s .', 'market volumes in the u.s .', 'also declined .', 'market making revenues in the consolidated statements of earnings were $ 7.66 billion for 2017 , 23% ( 23 % ) lower than 2016 , due to significantly lower revenues in commodities , currencies , credit products , interest rate products and equity derivative products .', 'these results were partially offset by significantly higher revenues in equity cash products and significantly improved results in mortgages .', 'other principal transactions revenues in the consolidated statements of earnings were $ 5.91 billion for 2017 , 75% ( 75 % ) higher than 2016 , primarily reflecting a significant increase in net gains from private equities , which were positively impacted by company-specific events and corporate performance .', 'in addition , net gains from public equities were significantly higher , as global equity prices increased during the year .', 'net interest income .', 'net interest income in the consolidated statements of earnings was $ 2.93 billion for 2017 , 13% ( 13 % ) higher than 2016 , reflecting an increase in interest income primarily due to the impact of higher interest rates on collateralized agreements , higher interest income from loans receivable due to higher yields and an increase in total average loans receivable , an increase in total average financial instruments owned , and the impact of higher interest rates on other interest-earning assets and deposits with banks .', 'the increase in interest income was partially offset by higher interest expense primarily due to the impact of higher interest rates on other interest-bearing liabilities , an increase in total average long-term borrowings , and the impact of higher interest rates on interest-bearing deposits , short-term borrowings and collateralized financings .', 'see 201cstatistical disclosures 2014 distribution of assets , liabilities and shareholders 2019 equity 201d for further information about our sources of net interest income .', 'provision for credit losses provision for credit losses consists of provision for credit losses on loans receivable and lending commitments held for investment .', 'see note 9 to the consolidated financial statements for further information about the provision for credit losses .', 'the table below presents the provision for credit losses. .']
----
Data Table:
$ in millions | year ended december 2018 | year ended december 2017 | year ended december 2016
provision for credit losses | $ 674 | $ 657 | $ 182
----
Post-table: ['goldman sachs 2018 form 10-k 53 .'] | 7.68293 | GS/2018/page_69.pdf-1 | ['the goldman sachs group , inc .', 'and subsidiaries management 2019s discussion and analysis commissions and fees in the consolidated statements of earnings were $ 3.20 billion for 2018 , 5% ( 5 % ) higher than 2017 , reflecting an increase in our listed cash equity and futures volumes , generally consistent with market volumes .', 'market making revenues in the consolidated statements of earnings were $ 9.45 billion for 2018 , 23% ( 23 % ) higher than 2017 , due to significantly higher revenues in equity products , interest rate products and commodities .', 'these increases were partially offset by significantly lower results in mortgages and lower revenues in credit products .', 'other principal transactions revenues in the consolidated statements of earnings were $ 5.82 billion for 2018 , 2% ( 2 % ) lower than 2017 , reflecting net losses from investments in public equities compared with net gains in the prior year , partially offset by significantly higher net gains from investments in private equities , driven by company-specific events , including sales , and corporate performance .', 'net interest income .', 'net interest income in the consolidated statements of earnings was $ 3.77 billion for 2018 , 28% ( 28 % ) higher than 2017 , reflecting an increase in interest income primarily due to the impact of higher interest rates on collateralized agreements , other interest-earning assets and deposits with banks , increases in total average loans receivable and financial instruments owned , and higher yields on financial instruments owned and loans receivable .', 'the increase in interest income was partially offset by higher interest expense primarily due to the impact of higher interest rates on other interest-bearing liabilities , collateralized financings , deposits and long-term borrowings , and increases in total average long-term borrowings and deposits .', 'see 201cstatistical disclosures 2014 distribution of assets , liabilities and shareholders 2019 equity 201d for further information about our sources of net interest income .', '2017 versus 2016 net revenues in the consolidated statements of earnings were $ 32.73 billion for 2017 , 6% ( 6 % ) higher than 2016 , due to significantly higher other principal transactions revenues , and higher investment banking revenues , investment management revenues and net interest income .', 'these increases were partially offset by significantly lower market making revenues and lower commissions and fees .', 'non-interest revenues .', 'investment banking revenues in the consolidated statements of earnings were $ 7.37 billion for 2017 , 18% ( 18 % ) higher than 2016 .', 'revenues in financial advisory were higher compared with 2016 , reflecting an increase in completed mergers and acquisitions transactions .', 'revenues in underwriting were significantly higher compared with 2016 , due to significantly higher revenues in both debt underwriting , primarily reflecting an increase in industry-wide leveraged finance activity , and equity underwriting , reflecting an increase in industry-wide secondary offerings .', 'investment management revenues in the consolidated statements of earnings were $ 5.80 billion for 2017 , 7% ( 7 % ) higher than 2016 , due to higher management and other fees , reflecting higher average assets under supervision , and higher transaction revenues .', 'commissions and fees in the consolidated statements of earnings were $ 3.05 billion for 2017 , 5% ( 5 % ) lower than 2016 , reflecting a decline in our listed cash equity volumes in the u.s .', 'market volumes in the u.s .', 'also declined .', 'market making revenues in the consolidated statements of earnings were $ 7.66 billion for 2017 , 23% ( 23 % ) lower than 2016 , due to significantly lower revenues in commodities , currencies , credit products , interest rate products and equity derivative products .', 'these results were partially offset by significantly higher revenues in equity cash products and significantly improved results in mortgages .', 'other principal transactions revenues in the consolidated statements of earnings were $ 5.91 billion for 2017 , 75% ( 75 % ) higher than 2016 , primarily reflecting a significant increase in net gains from private equities , which were positively impacted by company-specific events and corporate performance .', 'in addition , net gains from public equities were significantly higher , as global equity prices increased during the year .', 'net interest income .', 'net interest income in the consolidated statements of earnings was $ 2.93 billion for 2017 , 13% ( 13 % ) higher than 2016 , reflecting an increase in interest income primarily due to the impact of higher interest rates on collateralized agreements , higher interest income from loans receivable due to higher yields and an increase in total average loans receivable , an increase in total average financial instruments owned , and the impact of higher interest rates on other interest-earning assets and deposits with banks .', 'the increase in interest income was partially offset by higher interest expense primarily due to the impact of higher interest rates on other interest-bearing liabilities , an increase in total average long-term borrowings , and the impact of higher interest rates on interest-bearing deposits , short-term borrowings and collateralized financings .', 'see 201cstatistical disclosures 2014 distribution of assets , liabilities and shareholders 2019 equity 201d for further information about our sources of net interest income .', 'provision for credit losses provision for credit losses consists of provision for credit losses on loans receivable and lending commitments held for investment .', 'see note 9 to the consolidated financial statements for further information about the provision for credit losses .', 'the table below presents the provision for credit losses. .'] | ['goldman sachs 2018 form 10-k 53 .'] | $ in millions | year ended december 2018 | year ended december 2017 | year ended december 2016
provision for credit losses | $ 674 | $ 657 | $ 182 | add(const_1, 23%), divide(9.45, #0) | 7.68293 |
what is the net change in the balance of reinsurance receivables and premium receivables from 2014 to 2015? | Context: ['certain reclassifications and format changes have been made to prior years 2019 amounts to conform to the 2015 presentation .', 'b .', 'investments .', 'fixed maturity and equity security investments available for sale , at market value , reflect unrealized appreciation and depreciation , as a result of temporary changes in market value during the period , in shareholders 2019 equity , net of income taxes in 201caccumulated other comprehensive income ( loss ) 201d in the consolidated balance sheets .', 'fixed maturity and equity securities carried at fair value reflect fair value re- measurements as net realized capital gains and losses in the consolidated statements of operations and comprehensive income ( loss ) .', 'the company records changes in fair value for its fixed maturities available for sale , at market value through shareholders 2019 equity , net of taxes in accumulated other comprehensive income ( loss ) since cash flows from these investments will be primarily used to settle its reserve for losses and loss adjustment expense liabilities .', 'the company anticipates holding these investments for an extended period as the cash flow from interest and maturities will fund the projected payout of these liabilities .', 'fixed maturities carried at fair value represent a portfolio of convertible bond securities , which have characteristics similar to equity securities and at times , designated foreign denominated fixed maturity securities , which will be used to settle loss and loss adjustment reserves in the same currency .', 'the company carries all of its equity securities at fair value except for mutual fund investments whose underlying investments are comprised of fixed maturity securities .', 'for equity securities , available for sale , at fair value , the company reflects changes in value as net realized capital gains and losses since these securities may be sold in the near term depending on financial market conditions .', 'interest income on all fixed maturities and dividend income on all equity securities are included as part of net investment income in the consolidated statements of operations and comprehensive income ( loss ) .', 'unrealized losses on fixed maturities , which are deemed other-than-temporary and related to the credit quality of a security , are charged to net income ( loss ) as net realized capital losses .', 'short-term investments are stated at cost , which approximates market value .', 'realized gains or losses on sales of investments are determined on the basis of identified cost .', 'for non- publicly traded securities , market prices are determined through the use of pricing models that evaluate securities relative to the u.s .', 'treasury yield curve , taking into account the issue type , credit quality , and cash flow characteristics of each security .', 'for publicly traded securities , market value is based on quoted market prices or valuation models that use observable market inputs .', 'when a sector of the financial markets is inactive or illiquid , the company may use its own assumptions about future cash flows and risk-adjusted discount rates to determine fair value .', 'retrospective adjustments are employed to recalculate the values of asset-backed securities .', 'each acquisition lot is reviewed to recalculate the effective yield .', 'the recalculated effective yield is used to derive a book value as if the new yield were applied at the time of acquisition .', 'outstanding principal factors from the time of acquisition to the adjustment date are used to calculate the prepayment history for all applicable securities .', 'conditional prepayment rates , computed with life to date factor histories and weighted average maturities , are used to effect the calculation of projected and prepayments for pass-through security types .', 'other invested assets include limited partnerships and rabbi trusts .', 'limited partnerships are accounted for under the equity method of accounting , which can be recorded on a monthly or quarterly lag .', 'c .', 'uncollectible receivable balances .', 'the company provides reserves for uncollectible reinsurance recoverable and premium receivable balances based on management 2019s assessment of the collectability of the outstanding balances .', 'such reserves are presented in the table below for the periods indicated. .']
Data Table:
========================================
( dollars in thousands ), years ended december 31 , 2015, years ended december 31 , 2014
reinsurance receivables and premium receivables, $ 22878, $ 29497
========================================
Follow-up: ['.'] | -6619.0 | RE/2015/page_110.pdf-2 | ['certain reclassifications and format changes have been made to prior years 2019 amounts to conform to the 2015 presentation .', 'b .', 'investments .', 'fixed maturity and equity security investments available for sale , at market value , reflect unrealized appreciation and depreciation , as a result of temporary changes in market value during the period , in shareholders 2019 equity , net of income taxes in 201caccumulated other comprehensive income ( loss ) 201d in the consolidated balance sheets .', 'fixed maturity and equity securities carried at fair value reflect fair value re- measurements as net realized capital gains and losses in the consolidated statements of operations and comprehensive income ( loss ) .', 'the company records changes in fair value for its fixed maturities available for sale , at market value through shareholders 2019 equity , net of taxes in accumulated other comprehensive income ( loss ) since cash flows from these investments will be primarily used to settle its reserve for losses and loss adjustment expense liabilities .', 'the company anticipates holding these investments for an extended period as the cash flow from interest and maturities will fund the projected payout of these liabilities .', 'fixed maturities carried at fair value represent a portfolio of convertible bond securities , which have characteristics similar to equity securities and at times , designated foreign denominated fixed maturity securities , which will be used to settle loss and loss adjustment reserves in the same currency .', 'the company carries all of its equity securities at fair value except for mutual fund investments whose underlying investments are comprised of fixed maturity securities .', 'for equity securities , available for sale , at fair value , the company reflects changes in value as net realized capital gains and losses since these securities may be sold in the near term depending on financial market conditions .', 'interest income on all fixed maturities and dividend income on all equity securities are included as part of net investment income in the consolidated statements of operations and comprehensive income ( loss ) .', 'unrealized losses on fixed maturities , which are deemed other-than-temporary and related to the credit quality of a security , are charged to net income ( loss ) as net realized capital losses .', 'short-term investments are stated at cost , which approximates market value .', 'realized gains or losses on sales of investments are determined on the basis of identified cost .', 'for non- publicly traded securities , market prices are determined through the use of pricing models that evaluate securities relative to the u.s .', 'treasury yield curve , taking into account the issue type , credit quality , and cash flow characteristics of each security .', 'for publicly traded securities , market value is based on quoted market prices or valuation models that use observable market inputs .', 'when a sector of the financial markets is inactive or illiquid , the company may use its own assumptions about future cash flows and risk-adjusted discount rates to determine fair value .', 'retrospective adjustments are employed to recalculate the values of asset-backed securities .', 'each acquisition lot is reviewed to recalculate the effective yield .', 'the recalculated effective yield is used to derive a book value as if the new yield were applied at the time of acquisition .', 'outstanding principal factors from the time of acquisition to the adjustment date are used to calculate the prepayment history for all applicable securities .', 'conditional prepayment rates , computed with life to date factor histories and weighted average maturities , are used to effect the calculation of projected and prepayments for pass-through security types .', 'other invested assets include limited partnerships and rabbi trusts .', 'limited partnerships are accounted for under the equity method of accounting , which can be recorded on a monthly or quarterly lag .', 'c .', 'uncollectible receivable balances .', 'the company provides reserves for uncollectible reinsurance recoverable and premium receivable balances based on management 2019s assessment of the collectability of the outstanding balances .', 'such reserves are presented in the table below for the periods indicated. .'] | ['.'] | ========================================
( dollars in thousands ), years ended december 31 , 2015, years ended december 31 , 2014
reinsurance receivables and premium receivables, $ 22878, $ 29497
======================================== | subtract(22878, 29497) | -6619.0 |
what was the average revenue generated by banno between 2014 and 2016? | Background: ['58 2016 annual report note 12 .', 'business acquisition bayside business solutions , inc .', 'effective july 1 , 2015 , the company acquired all of the equity interests of bayside business solutions , an alabama-based company that provides technology solutions and payment processing services primarily for the financial services industry , for $ 10000 paid in cash .', 'this acquisition was funded using existing operating cash .', 'the acquisition of bayside business solutions expanded the company 2019s presence in commercial lending within the industry .', 'management has completed a purchase price allocation of bayside business solutions and its assessment of the fair value of acquired assets and liabilities assumed .', 'the recognized amounts of identifiable assets acquired and liabilities assumed , based upon their fair values as of july 1 , 2015 are set forth below: .']
Table:
Row 1: current assets, $ 1922
Row 2: long-term assets, 253
Row 3: identifiable intangible assets, 5005
Row 4: total liabilities assumed, -3279 ( 3279 )
Row 5: total identifiable net assets, 3901
Row 6: goodwill, 6099
Row 7: net assets acquired, $ 10000
Additional Information: ['the goodwill of $ 6099 arising from this acquisition consists largely of the growth potential , synergies and economies of scale expected from combining the operations of the company with those of bayside business solutions , together with the value of bayside business solutions 2019 assembled workforce .', 'goodwill from this acquisition has been allocated to our banking systems and services segment .', 'the goodwill is not expected to be deductible for income tax purposes .', 'identifiable intangible assets from this acquisition consist of customer relationships of $ 3402 , $ 659 of computer software and other intangible assets of $ 944 .', 'the weighted average amortization period for acquired customer relationships , acquired computer software , and other intangible assets is 15 years , 5 years , and 20 years , respectively .', 'current assets were inclusive of cash acquired of $ 1725 .', 'the fair value of current assets acquired included accounts receivable of $ 178 .', 'the gross amount of receivables was $ 178 , none of which was expected to be uncollectible .', 'during fiscal year 2016 , the company incurred $ 55 in costs related to the acquisition of bayside business solutions .', 'these costs included fees for legal , valuation and other fees .', 'these costs were included within general and administrative expenses .', 'the results of bayside business solutions 2019 operations included in the company 2019s consolidated statement of income for the twelve months ended june 30 , 2016 included revenue of $ 4273 and after-tax net income of $ 303 .', 'the accompanying consolidated statements of income for the fiscal year ended june 30 , 2016 do not include any revenues and expenses related to this acquisition prior to the acquisition date .', 'the impact of this acquisition was considered immaterial to both the current and prior periods of our consolidated financial statements and pro forma financial information has not been provided .', 'banno , llc effective march 1 , 2014 , the company acquired all of the equity interests of banno , an iowa-based company that provides web and transaction marketing services with a focus on the mobile medium , for $ 27910 paid in cash .', 'this acquisition was funded using existing operating cash .', 'the acquisition of banno expanded the company 2019s presence in online and mobile technologies within the industry .', 'during fiscal year 2014 , the company incurred $ 30 in costs related to the acquisition of banno .', 'these costs included fees for legal , valuation and other fees .', 'these costs were included within general and administrative expenses .', "the results of banno's operations included in the company's consolidated statements of income for the year ended june 30 , 2016 included revenue of $ 6393 and after-tax net loss of $ 1289 .", 'for the year ended june 30 , 2015 , our consolidated statements of income included revenue of $ 4175 and after-tax net loss of $ 1784 attributable to banno .', 'the results of banno 2019s operations included in the company 2019s consolidated statement of operations from the acquisition date to june 30 , 2014 included revenue of $ 848 and after-tax net loss of $ 1121 .', 'the accompanying consolidated statements of income for the twelve month period ended june 30 , 2016 do not include any revenues and expenses related to this acquisition prior to the acquisition date .', 'the impact of this acquisition was considered immaterial to both the current and prior periods of our consolidated financial statements and pro forma financial information has not been provided. .'] | 11416.0 | JKHY/2016/page_61.pdf-4 | ['58 2016 annual report note 12 .', 'business acquisition bayside business solutions , inc .', 'effective july 1 , 2015 , the company acquired all of the equity interests of bayside business solutions , an alabama-based company that provides technology solutions and payment processing services primarily for the financial services industry , for $ 10000 paid in cash .', 'this acquisition was funded using existing operating cash .', 'the acquisition of bayside business solutions expanded the company 2019s presence in commercial lending within the industry .', 'management has completed a purchase price allocation of bayside business solutions and its assessment of the fair value of acquired assets and liabilities assumed .', 'the recognized amounts of identifiable assets acquired and liabilities assumed , based upon their fair values as of july 1 , 2015 are set forth below: .'] | ['the goodwill of $ 6099 arising from this acquisition consists largely of the growth potential , synergies and economies of scale expected from combining the operations of the company with those of bayside business solutions , together with the value of bayside business solutions 2019 assembled workforce .', 'goodwill from this acquisition has been allocated to our banking systems and services segment .', 'the goodwill is not expected to be deductible for income tax purposes .', 'identifiable intangible assets from this acquisition consist of customer relationships of $ 3402 , $ 659 of computer software and other intangible assets of $ 944 .', 'the weighted average amortization period for acquired customer relationships , acquired computer software , and other intangible assets is 15 years , 5 years , and 20 years , respectively .', 'current assets were inclusive of cash acquired of $ 1725 .', 'the fair value of current assets acquired included accounts receivable of $ 178 .', 'the gross amount of receivables was $ 178 , none of which was expected to be uncollectible .', 'during fiscal year 2016 , the company incurred $ 55 in costs related to the acquisition of bayside business solutions .', 'these costs included fees for legal , valuation and other fees .', 'these costs were included within general and administrative expenses .', 'the results of bayside business solutions 2019 operations included in the company 2019s consolidated statement of income for the twelve months ended june 30 , 2016 included revenue of $ 4273 and after-tax net income of $ 303 .', 'the accompanying consolidated statements of income for the fiscal year ended june 30 , 2016 do not include any revenues and expenses related to this acquisition prior to the acquisition date .', 'the impact of this acquisition was considered immaterial to both the current and prior periods of our consolidated financial statements and pro forma financial information has not been provided .', 'banno , llc effective march 1 , 2014 , the company acquired all of the equity interests of banno , an iowa-based company that provides web and transaction marketing services with a focus on the mobile medium , for $ 27910 paid in cash .', 'this acquisition was funded using existing operating cash .', 'the acquisition of banno expanded the company 2019s presence in online and mobile technologies within the industry .', 'during fiscal year 2014 , the company incurred $ 30 in costs related to the acquisition of banno .', 'these costs included fees for legal , valuation and other fees .', 'these costs were included within general and administrative expenses .', "the results of banno's operations included in the company's consolidated statements of income for the year ended june 30 , 2016 included revenue of $ 6393 and after-tax net loss of $ 1289 .", 'for the year ended june 30 , 2015 , our consolidated statements of income included revenue of $ 4175 and after-tax net loss of $ 1784 attributable to banno .', 'the results of banno 2019s operations included in the company 2019s consolidated statement of operations from the acquisition date to june 30 , 2014 included revenue of $ 848 and after-tax net loss of $ 1121 .', 'the accompanying consolidated statements of income for the twelve month period ended june 30 , 2016 do not include any revenues and expenses related to this acquisition prior to the acquisition date .', 'the impact of this acquisition was considered immaterial to both the current and prior periods of our consolidated financial statements and pro forma financial information has not been provided. .'] | Row 1: current assets, $ 1922
Row 2: long-term assets, 253
Row 3: identifiable intangible assets, 5005
Row 4: total liabilities assumed, -3279 ( 3279 )
Row 5: total identifiable net assets, 3901
Row 6: goodwill, 6099
Row 7: net assets acquired, $ 10000 | add(6393, 4175), add(848, #0) | 11416.0 |
based on the information provided what was the total operating expenses in 2016 in millions | Background: ['( 2 ) our union-represented mainline employees are covered by agreements that are not currently amendable .', 'joint collective bargaining agreements ( jcbas ) have been reached with post-merger employee groups , except the maintenance , fleet service , stock clerks , maintenance control technicians and maintenance training instructors represented by the twu-iam association who are covered by separate cbas that become amendable in the third quarter of 2018 .', 'until those agreements become amendable , negotiations for jcbas will be conducted outside the traditional rla bargaining process as described above , and , in the meantime , no self-help will be permissible .', '( 3 ) among our wholly-owned regional subsidiaries , the psa mechanics and flight attendants have agreements that are now amendable and are engaged in traditional rla negotiations .', 'the envoy passenger service employees are engaged in traditional rla negotiations for an initial cba .', 'the piedmont fleet and passenger service employees have reached a tentative five-year agreement which is subject to membership ratification .', 'for more discussion , see part i , item 1a .', 'risk factors 2013 201cunion disputes , employee strikes and other labor-related disruptions may adversely affect our operations . 201d aircraft fuel our operations and financial results are significantly affected by the availability and price of jet fuel , which is our second largest expense .', 'based on our 2018 forecasted mainline and regional fuel consumption , we estimate that a one cent per gallon increase in aviation fuel price would increase our 2018 annual fuel expense by $ 45 million .', 'the following table shows annual aircraft fuel consumption and costs , including taxes , for our mainline and regional operations for 2017 , 2016 and 2015 ( gallons and aircraft fuel expense in millions ) .', 'year gallons average price per gallon aircraft fuel expense percent of total operating expenses .']
Data Table:
year | gallons | average priceper gallon | aircraft fuelexpense | percent of totaloperating expenses
2017 | 4352 | $ 1.73 | $ 7510 | 19.7% ( 19.7 % )
2016 | 4347 | 1.42 | 6180 | 17.7% ( 17.7 % )
2015 | 4323 | 1.72 | 7456 | 21.4% ( 21.4 % )
Post-table: ['as of december 31 , 2017 , we did not have any fuel hedging contracts outstanding to hedge our fuel consumption .', 'as such , and assuming we do not enter into any future transactions to hedge our fuel consumption , we will continue to be fully exposed to fluctuations in fuel prices .', 'our current policy is not to enter into transactions to hedge our fuel consumption , although we review that policy from time to time based on market conditions and other factors .', 'fuel prices have fluctuated substantially over the past several years .', 'we cannot predict the future availability , price volatility or cost of aircraft fuel .', 'natural disasters ( including hurricanes or similar events in the u.s .', 'southeast and on the gulf coast where a significant portion of domestic refining capacity is located ) , political disruptions or wars involving oil-producing countries , changes in fuel-related governmental policy , the strength of the u.s .', 'dollar against foreign currencies , changes in access to petroleum product pipelines and terminals , speculation in the energy futures markets , changes in aircraft fuel production capacity , environmental concerns and other unpredictable events may result in fuel supply shortages , distribution challenges , additional fuel price volatility and cost increases in the future .', 'see part i , item 1a .', 'risk factors 2013 201cour business is very dependent on the price and availability of aircraft fuel .', 'continued periods of high volatility in fuel costs , increased fuel prices or significant disruptions in the supply of aircraft fuel could have a significant negative impact on our operating results and liquidity . 201d seasonality and other factors due to the greater demand for air travel during the summer months , revenues in the airline industry in the second and third quarters of the year tend to be greater than revenues in the first and fourth quarters of the year .', 'general economic conditions , fears of terrorism or war , fare initiatives , fluctuations in fuel prices , labor actions , weather , natural disasters , outbreaks of disease and other factors could impact this seasonal pattern .', 'therefore , our quarterly results of operations are not necessarily indicative of operating results for the entire year , and historical operating results in a quarterly or annual period are not necessarily indicative of future operating results. .'] | 1093.86 | AAL/2017/page_10.pdf-1 | ['( 2 ) our union-represented mainline employees are covered by agreements that are not currently amendable .', 'joint collective bargaining agreements ( jcbas ) have been reached with post-merger employee groups , except the maintenance , fleet service , stock clerks , maintenance control technicians and maintenance training instructors represented by the twu-iam association who are covered by separate cbas that become amendable in the third quarter of 2018 .', 'until those agreements become amendable , negotiations for jcbas will be conducted outside the traditional rla bargaining process as described above , and , in the meantime , no self-help will be permissible .', '( 3 ) among our wholly-owned regional subsidiaries , the psa mechanics and flight attendants have agreements that are now amendable and are engaged in traditional rla negotiations .', 'the envoy passenger service employees are engaged in traditional rla negotiations for an initial cba .', 'the piedmont fleet and passenger service employees have reached a tentative five-year agreement which is subject to membership ratification .', 'for more discussion , see part i , item 1a .', 'risk factors 2013 201cunion disputes , employee strikes and other labor-related disruptions may adversely affect our operations . 201d aircraft fuel our operations and financial results are significantly affected by the availability and price of jet fuel , which is our second largest expense .', 'based on our 2018 forecasted mainline and regional fuel consumption , we estimate that a one cent per gallon increase in aviation fuel price would increase our 2018 annual fuel expense by $ 45 million .', 'the following table shows annual aircraft fuel consumption and costs , including taxes , for our mainline and regional operations for 2017 , 2016 and 2015 ( gallons and aircraft fuel expense in millions ) .', 'year gallons average price per gallon aircraft fuel expense percent of total operating expenses .'] | ['as of december 31 , 2017 , we did not have any fuel hedging contracts outstanding to hedge our fuel consumption .', 'as such , and assuming we do not enter into any future transactions to hedge our fuel consumption , we will continue to be fully exposed to fluctuations in fuel prices .', 'our current policy is not to enter into transactions to hedge our fuel consumption , although we review that policy from time to time based on market conditions and other factors .', 'fuel prices have fluctuated substantially over the past several years .', 'we cannot predict the future availability , price volatility or cost of aircraft fuel .', 'natural disasters ( including hurricanes or similar events in the u.s .', 'southeast and on the gulf coast where a significant portion of domestic refining capacity is located ) , political disruptions or wars involving oil-producing countries , changes in fuel-related governmental policy , the strength of the u.s .', 'dollar against foreign currencies , changes in access to petroleum product pipelines and terminals , speculation in the energy futures markets , changes in aircraft fuel production capacity , environmental concerns and other unpredictable events may result in fuel supply shortages , distribution challenges , additional fuel price volatility and cost increases in the future .', 'see part i , item 1a .', 'risk factors 2013 201cour business is very dependent on the price and availability of aircraft fuel .', 'continued periods of high volatility in fuel costs , increased fuel prices or significant disruptions in the supply of aircraft fuel could have a significant negative impact on our operating results and liquidity . 201d seasonality and other factors due to the greater demand for air travel during the summer months , revenues in the airline industry in the second and third quarters of the year tend to be greater than revenues in the first and fourth quarters of the year .', 'general economic conditions , fears of terrorism or war , fare initiatives , fluctuations in fuel prices , labor actions , weather , natural disasters , outbreaks of disease and other factors could impact this seasonal pattern .', 'therefore , our quarterly results of operations are not necessarily indicative of operating results for the entire year , and historical operating results in a quarterly or annual period are not necessarily indicative of future operating results. .'] | year | gallons | average priceper gallon | aircraft fuelexpense | percent of totaloperating expenses
2017 | 4352 | $ 1.73 | $ 7510 | 19.7% ( 19.7 % )
2016 | 4347 | 1.42 | 6180 | 17.7% ( 17.7 % )
2015 | 4323 | 1.72 | 7456 | 21.4% ( 21.4 % ) | multiply(6180, 17.7%) | 1093.86 |
what is the total balance of purchases , issuances and settlements at the end of 2015? | Context: ['the following tables present a reconciliation of the beginning and ending balances of the fair value measurements using significant unobservable inputs ( level 3 ) for 2015 and 2014 , respectively: .']
Table:
----------------------------------------
| level 3
balance as of january 1 2015 | $ 127
actual return on assets | 12
purchases issuances and settlements net | -3 ( 3 )
balance as of december 31 2015 | $ 136
----------------------------------------
Post-table: ['purchases , issuances and settlements , net .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '76 balance as of december 31 , 2014 .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '$ 127 the company 2019s other postretirement benefit plans are partially funded and the assets are held under various trusts .', 'the investments and risk mitigation strategies for the plans are tailored specifically for each trust .', 'in setting new strategic asset mixes , consideration is given to the likelihood that the selected asset allocation will effectively fund the projected plan liabilities and the risk tolerance of the company .', 'the company periodically updates the long-term , strategic asset allocations and uses various analytics to determine the optimal asset allocation .', 'considerations include plan liability characteristics , liquidity characteristics , funding requirements , expected rates of return and the distribution of returns .', 'in june 2012 , the company implemented a de-risking strategy for the medical bargaining trust within the plan to minimize volatility .', 'as part of the de-risking strategy , the company revised the asset allocations to increase the matching characteristics of assets relative to liabilities .', 'the initial de-risking asset allocation for the plan was 60% ( 60 % ) return-generating assets and 40% ( 40 % ) liability-driven assets .', 'the investment strategies and policies for the plan reflect a balance of liability driven and return-generating considerations .', 'the objective of minimizing the volatility of assets relative to liabilities is addressed primarily through asset 2014liability matching , asset diversification and hedging .', 'the fixed income target asset allocation matches the bond-like and long-dated nature of the postretirement liabilities .', 'assets are broadly diversified within asset classes to achieve risk-adjusted returns that in total lower asset volatility relative to the liabilities .', 'the company assesses the investment strategy regularly to ensure actual allocations are in line with target allocations as appropriate .', 'strategies to address the goal of ensuring sufficient assets to pay benefits include target allocations to a broad array of asset classes and , within asset classes strategies are employed to provide adequate returns , diversification and liquidity .', 'the assets of the company 2019s other trusts , within the other postretirement benefit plans , have been primarily invested in equities and fixed income funds .', 'the assets under the various other postretirement benefit trusts are invested differently based on the assets and liabilities of each trust .', 'the obligations of the other postretirement benefit plans are dominated by obligations for the medical bargaining trust .', 'thirty-nine percent and four percent of the total postretirement plan benefit obligations are related to the medical non-bargaining and life insurance trusts , respectively .', 'because expected benefit payments related to the benefit obligations are so far into the future , and the size of the medical non-bargaining and life insurance trusts 2019 obligations are large compared to each trusts 2019 assets , the investment strategy is to allocate a significant portion of the assets 2019 investment to equities , which the company believes will provide the highest long-term return and improve the funding ratio .', 'the company engages third party investment managers for all invested assets .', 'managers are not permitted to invest outside of the asset class ( e.g .', 'fixed income , equity , alternatives ) or strategy for which they have been appointed .', 'investment management agreements and recurring performance and attribution analysis are used as tools to ensure investment managers invest solely within the investment strategy they have been provided .', 'futures and options may be used to adjust portfolio duration to align with a plan 2019s targeted investment policy. .'] | 73.0 | AWK/2015/page_127.pdf-1 | ['the following tables present a reconciliation of the beginning and ending balances of the fair value measurements using significant unobservable inputs ( level 3 ) for 2015 and 2014 , respectively: .'] | ['purchases , issuances and settlements , net .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '76 balance as of december 31 , 2014 .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '$ 127 the company 2019s other postretirement benefit plans are partially funded and the assets are held under various trusts .', 'the investments and risk mitigation strategies for the plans are tailored specifically for each trust .', 'in setting new strategic asset mixes , consideration is given to the likelihood that the selected asset allocation will effectively fund the projected plan liabilities and the risk tolerance of the company .', 'the company periodically updates the long-term , strategic asset allocations and uses various analytics to determine the optimal asset allocation .', 'considerations include plan liability characteristics , liquidity characteristics , funding requirements , expected rates of return and the distribution of returns .', 'in june 2012 , the company implemented a de-risking strategy for the medical bargaining trust within the plan to minimize volatility .', 'as part of the de-risking strategy , the company revised the asset allocations to increase the matching characteristics of assets relative to liabilities .', 'the initial de-risking asset allocation for the plan was 60% ( 60 % ) return-generating assets and 40% ( 40 % ) liability-driven assets .', 'the investment strategies and policies for the plan reflect a balance of liability driven and return-generating considerations .', 'the objective of minimizing the volatility of assets relative to liabilities is addressed primarily through asset 2014liability matching , asset diversification and hedging .', 'the fixed income target asset allocation matches the bond-like and long-dated nature of the postretirement liabilities .', 'assets are broadly diversified within asset classes to achieve risk-adjusted returns that in total lower asset volatility relative to the liabilities .', 'the company assesses the investment strategy regularly to ensure actual allocations are in line with target allocations as appropriate .', 'strategies to address the goal of ensuring sufficient assets to pay benefits include target allocations to a broad array of asset classes and , within asset classes strategies are employed to provide adequate returns , diversification and liquidity .', 'the assets of the company 2019s other trusts , within the other postretirement benefit plans , have been primarily invested in equities and fixed income funds .', 'the assets under the various other postretirement benefit trusts are invested differently based on the assets and liabilities of each trust .', 'the obligations of the other postretirement benefit plans are dominated by obligations for the medical bargaining trust .', 'thirty-nine percent and four percent of the total postretirement plan benefit obligations are related to the medical non-bargaining and life insurance trusts , respectively .', 'because expected benefit payments related to the benefit obligations are so far into the future , and the size of the medical non-bargaining and life insurance trusts 2019 obligations are large compared to each trusts 2019 assets , the investment strategy is to allocate a significant portion of the assets 2019 investment to equities , which the company believes will provide the highest long-term return and improve the funding ratio .', 'the company engages third party investment managers for all invested assets .', 'managers are not permitted to invest outside of the asset class ( e.g .', 'fixed income , equity , alternatives ) or strategy for which they have been appointed .', 'investment management agreements and recurring performance and attribution analysis are used as tools to ensure investment managers invest solely within the investment strategy they have been provided .', 'futures and options may be used to adjust portfolio duration to align with a plan 2019s targeted investment policy. .'] | ----------------------------------------
| level 3
balance as of january 1 2015 | $ 127
actual return on assets | 12
purchases issuances and settlements net | -3 ( 3 )
balance as of december 31 2015 | $ 136
---------------------------------------- | add(76, -3) | 73.0 |
how much more was the residential mortgage foreclosures in 2011 than in 2010? | Background: ['corporate & institutional banking corporate & institutional banking earned $ 1.9 billion in 2011 and $ 1.8 billion in 2010 .', 'the increase in earnings was primarily due to an improvement in the provision for credit losses , which was a benefit in 2011 , partially offset by a reduction in the value of commercial mortgage servicing rights and lower net interest income .', 'we continued to focus on adding new clients , increasing cross sales , and remaining committed to strong expense discipline .', 'asset management group asset management group earned $ 141 million for 2011 compared with $ 137 million for 2010 .', 'assets under administration were $ 210 billion at december 31 , 2011 and $ 212 billion at december 31 , 2010 .', 'earnings for 2011 reflected a benefit from the provision for credit losses and growth in noninterest income , partially offset by higher noninterest expense and lower net interest income .', 'for 2011 , the business delivered strong sales production , grew high value clients and benefitted from significant referrals from other pnc lines of business .', 'over time and with stabilized market conditions , the successful execution of these strategies and the accumulation of our strong sales performance are expected to create meaningful growth in assets under management and noninterest income .', 'residential mortgage banking residential mortgage banking earned $ 87 million in 2011 compared with $ 269 million in 2010 .', 'the decline in earnings was driven by an increase in noninterest expense associated with increased costs for residential mortgage foreclosure- related expenses , primarily as a result of ongoing governmental matters , and lower net interest income , partially offset by an increase in loan originations and higher loans sales revenue .', 'blackrock our blackrock business segment earned $ 361 million in 2011 and $ 351 million in 2010 .', 'the higher business segment earnings from blackrock for 2011 compared with 2010 were primarily due to an increase in revenue .', 'non-strategic assets portfolio this business segment ( formerly distressed assets portfolio ) consists primarily of acquired non-strategic assets that fall outside of our core business strategy .', 'non-strategic assets portfolio had earnings of $ 200 million in 2011 compared with a loss of $ 57 million in 2010 .', 'the increase was primarily attributable to a lower provision for credit losses partially offset by lower net interest income .', '201cother 201d reported earnings of $ 376 million for 2011 compared with earnings of $ 386 million for 2010 .', 'the decrease in earnings primarily reflected the noncash charge related to the redemption of trust preferred securities in the fourth quarter of 2011 and the gain related to the sale of a portion of pnc 2019s blackrock shares in 2010 partially offset by lower integration costs in 2011 .', 'consolidated income statement review our consolidated income statement is presented in item 8 of this report .', 'net income for 2011 was $ 3.1 billion compared with $ 3.4 billion for 2010 .', 'results for 2011 include the impact of $ 324 million of residential mortgage foreclosure-related expenses primarily as a result of ongoing governmental matters , a $ 198 million noncash charge related to redemption of trust preferred securities and $ 42 million for integration costs .', 'results for 2010 included the $ 328 million after-tax gain on our sale of gis , $ 387 million for integration costs , and $ 71 million of residential mortgage foreclosure-related expenses .', 'for 2010 , net income attributable to common shareholders was also impacted by a noncash reduction of $ 250 million in connection with the redemption of tarp preferred stock .', 'pnc 2019s results for 2011 were driven by good performance in a challenging environment of low interest rates , slow economic growth and new regulations .', 'net interest income and net interest margin year ended december 31 dollars in millions 2011 2010 .']
######
Data Table:
----------------------------------------
Row 1: year ended december 31dollars in millions, 2011, 2010
Row 2: net interest income, $ 8700, $ 9230
Row 3: net interest margin, 3.92% ( 3.92 % ), 4.14% ( 4.14 % )
----------------------------------------
######
Post-table: ['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 analysis of year-to-year changes in net interest income and average consolidated balance sheet and net interest analysis in item 8 and the discussion of purchase accounting accretion in the consolidated balance sheet review in item 7 of this report for additional information .', 'the decreases in net interest income and net interest margin for 2011 compared with 2010 were primarily attributable to a decrease in purchase accounting accretion on purchased impaired loans primarily due to lower excess cash recoveries .', 'a decline in average loan balances and the low interest rate environment , partially offset by lower funding costs , also contributed to the decrease .', 'the pnc financial services group , inc .', '2013 form 10-k 35 .'] | 253.0 | PNC/2011/page_44.pdf-5 | ['corporate & institutional banking corporate & institutional banking earned $ 1.9 billion in 2011 and $ 1.8 billion in 2010 .', 'the increase in earnings was primarily due to an improvement in the provision for credit losses , which was a benefit in 2011 , partially offset by a reduction in the value of commercial mortgage servicing rights and lower net interest income .', 'we continued to focus on adding new clients , increasing cross sales , and remaining committed to strong expense discipline .', 'asset management group asset management group earned $ 141 million for 2011 compared with $ 137 million for 2010 .', 'assets under administration were $ 210 billion at december 31 , 2011 and $ 212 billion at december 31 , 2010 .', 'earnings for 2011 reflected a benefit from the provision for credit losses and growth in noninterest income , partially offset by higher noninterest expense and lower net interest income .', 'for 2011 , the business delivered strong sales production , grew high value clients and benefitted from significant referrals from other pnc lines of business .', 'over time and with stabilized market conditions , the successful execution of these strategies and the accumulation of our strong sales performance are expected to create meaningful growth in assets under management and noninterest income .', 'residential mortgage banking residential mortgage banking earned $ 87 million in 2011 compared with $ 269 million in 2010 .', 'the decline in earnings was driven by an increase in noninterest expense associated with increased costs for residential mortgage foreclosure- related expenses , primarily as a result of ongoing governmental matters , and lower net interest income , partially offset by an increase in loan originations and higher loans sales revenue .', 'blackrock our blackrock business segment earned $ 361 million in 2011 and $ 351 million in 2010 .', 'the higher business segment earnings from blackrock for 2011 compared with 2010 were primarily due to an increase in revenue .', 'non-strategic assets portfolio this business segment ( formerly distressed assets portfolio ) consists primarily of acquired non-strategic assets that fall outside of our core business strategy .', 'non-strategic assets portfolio had earnings of $ 200 million in 2011 compared with a loss of $ 57 million in 2010 .', 'the increase was primarily attributable to a lower provision for credit losses partially offset by lower net interest income .', '201cother 201d reported earnings of $ 376 million for 2011 compared with earnings of $ 386 million for 2010 .', 'the decrease in earnings primarily reflected the noncash charge related to the redemption of trust preferred securities in the fourth quarter of 2011 and the gain related to the sale of a portion of pnc 2019s blackrock shares in 2010 partially offset by lower integration costs in 2011 .', 'consolidated income statement review our consolidated income statement is presented in item 8 of this report .', 'net income for 2011 was $ 3.1 billion compared with $ 3.4 billion for 2010 .', 'results for 2011 include the impact of $ 324 million of residential mortgage foreclosure-related expenses primarily as a result of ongoing governmental matters , a $ 198 million noncash charge related to redemption of trust preferred securities and $ 42 million for integration costs .', 'results for 2010 included the $ 328 million after-tax gain on our sale of gis , $ 387 million for integration costs , and $ 71 million of residential mortgage foreclosure-related expenses .', 'for 2010 , net income attributable to common shareholders was also impacted by a noncash reduction of $ 250 million in connection with the redemption of tarp preferred stock .', 'pnc 2019s results for 2011 were driven by good performance in a challenging environment of low interest rates , slow economic growth and new regulations .', 'net interest income and net interest margin year ended december 31 dollars in millions 2011 2010 .'] | ['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 analysis of year-to-year changes in net interest income and average consolidated balance sheet and net interest analysis in item 8 and the discussion of purchase accounting accretion in the consolidated balance sheet review in item 7 of this report for additional information .', 'the decreases in net interest income and net interest margin for 2011 compared with 2010 were primarily attributable to a decrease in purchase accounting accretion on purchased impaired loans primarily due to lower excess cash recoveries .', 'a decline in average loan balances and the low interest rate environment , partially offset by lower funding costs , also contributed to the decrease .', 'the pnc financial services group , inc .', '2013 form 10-k 35 .'] | ----------------------------------------
Row 1: year ended december 31dollars in millions, 2011, 2010
Row 2: net interest income, $ 8700, $ 9230
Row 3: net interest margin, 3.92% ( 3.92 % ), 4.14% ( 4.14 % )
---------------------------------------- | subtract(324, 71) | 253.0 |
what was the average industry segment operating profits from 2005 to 2007 | Pre-text: ['item 7 .', 'management 2019s discussion and analysis of financial condition and results of operations executive summary international paper 2019s operating results in 2007 bene- fited from significantly higher paper and packaging price realizations .', 'sales volumes were slightly high- er , with growth in overseas markets partially offset by lower volumes in north america as we continued to balance our production with our customers 2019 demand .', 'operationally , our pulp and paper and containerboard mills ran very well in 2007 .', 'however , input costs for wood , energy and transportation costs were all well above 2006 levels .', 'in our forest products business , earnings decreased 31% ( 31 % ) reflect- ing a sharp decline in harvest income and a smaller drop in forestland and real estate sales , both reflect- ing our forestland divestitures in 2006 .', 'interest expense decreased over 40% ( 40 % ) , principally due to lower debt balances and interest rates from debt repayments and refinancings .', 'looking forward to the first quarter of 2008 , we expect demand for north american printing papers and packaging to remain steady .', 'however , if the economic downturn in 2008 is greater than expected , this could have a negative impact on sales volumes and earnings .', 'some slight increases in paper and packaging price realizations are expected as we implement our announced price increases .', 'however , first quarter earnings will reflect increased planned maintenance expenses and continued escalation of wood , energy and transportation costs .', 'as a result , excluding the impact of projected reduced earnings from land sales and the addition of equity earnings contributions from our recent investment in ilim holding s.a .', 'in russia , we expect 2008 first-quarter earnings to be lower than in the 2007 fourth quarter .', 'results of operations industry segment operating profits are used by inter- national paper 2019s management to measure the earn- ings performance of its businesses .', 'management believes that this measure allows a better under- standing of trends in costs , operating efficiencies , prices and volumes .', 'industry segment operating profits are defined as earnings before taxes and minority interest , interest expense , corporate items and corporate special items .', 'industry segment oper- ating profits are defined by the securities and exchange commission as a non-gaap financial measure , and are not gaap alternatives to net earn- ings or any other operating measure prescribed by accounting principles generally accepted in the united states .', 'international paper operates in six segments : print- ing papers , industrial packaging , consumer pack- aging , distribution , forest products , and specialty businesses and other .', 'the following table shows the components of net earnings for each of the last three years : in millions 2007 2006 2005 .']
--------
Tabular Data:
in millions 2007 2006 2005
industry segment operating profits $ 2423 $ 2074 $ 1622
corporate items net -732 ( 732 ) -746 ( 746 ) -607 ( 607 )
corporate special items* 241 2373 -134 ( 134 )
interest expense net -297 ( 297 ) -521 ( 521 ) -595 ( 595 )
minority interest -5 ( 5 ) -9 ( 9 ) -9 ( 9 )
income tax benefit ( provision ) -415 ( 415 ) -1889 ( 1889 ) 407
discontinued operations -47 ( 47 ) -232 ( 232 ) 416
net earnings $ 1168 $ 1050 $ 1100
--------
Follow-up: ['* corporate special items include restructuring and other charg- es , net ( gains ) losses on sales and impairments of businesses , gains on transformation plan forestland sales , goodwill impairment charges , insurance recoveries and reversals of reserves no longer required .', 'industry segment operating profits of $ 2.4 billion were $ 349 million higher in 2007 than in 2006 due principally to the benefits from higher average price realizations ( $ 461 million ) , the net impact of cost reduction initiatives , improved operating perform- ance and a more favorable mix of products sold ( $ 304 million ) , higher sales volumes ( $ 17 million ) , lower special item costs ( $ 115 million ) and other items ( $ 4 million ) .', 'these benefits more than offset the impacts of higher energy , raw material and freight costs ( $ 205 million ) , higher costs for planned mill maintenance outages ( $ 48 million ) , lower earn- ings from land sales ( $ 101 million ) , costs at the pensacola mill associated with the conversion of a machine to the production of linerboard ( $ 52 million ) and reduced earnings due to net acquisitions and divestitures ( $ 146 million ) .', 'segment operating profit ( in millions ) $ 2074 ( $ 205 ) ( $ 48 ) $ 17 ( $ 244 ) $ 2423$ 4 ( $ 52 ) ( $ 101 ) $ 461 $ 1000 $ 1500 $ 2000 $ 2500 $ 3000 .'] | 3061.0 | IP/2007/page_19.pdf-1 | ['item 7 .', 'management 2019s discussion and analysis of financial condition and results of operations executive summary international paper 2019s operating results in 2007 bene- fited from significantly higher paper and packaging price realizations .', 'sales volumes were slightly high- er , with growth in overseas markets partially offset by lower volumes in north america as we continued to balance our production with our customers 2019 demand .', 'operationally , our pulp and paper and containerboard mills ran very well in 2007 .', 'however , input costs for wood , energy and transportation costs were all well above 2006 levels .', 'in our forest products business , earnings decreased 31% ( 31 % ) reflect- ing a sharp decline in harvest income and a smaller drop in forestland and real estate sales , both reflect- ing our forestland divestitures in 2006 .', 'interest expense decreased over 40% ( 40 % ) , principally due to lower debt balances and interest rates from debt repayments and refinancings .', 'looking forward to the first quarter of 2008 , we expect demand for north american printing papers and packaging to remain steady .', 'however , if the economic downturn in 2008 is greater than expected , this could have a negative impact on sales volumes and earnings .', 'some slight increases in paper and packaging price realizations are expected as we implement our announced price increases .', 'however , first quarter earnings will reflect increased planned maintenance expenses and continued escalation of wood , energy and transportation costs .', 'as a result , excluding the impact of projected reduced earnings from land sales and the addition of equity earnings contributions from our recent investment in ilim holding s.a .', 'in russia , we expect 2008 first-quarter earnings to be lower than in the 2007 fourth quarter .', 'results of operations industry segment operating profits are used by inter- national paper 2019s management to measure the earn- ings performance of its businesses .', 'management believes that this measure allows a better under- standing of trends in costs , operating efficiencies , prices and volumes .', 'industry segment operating profits are defined as earnings before taxes and minority interest , interest expense , corporate items and corporate special items .', 'industry segment oper- ating profits are defined by the securities and exchange commission as a non-gaap financial measure , and are not gaap alternatives to net earn- ings or any other operating measure prescribed by accounting principles generally accepted in the united states .', 'international paper operates in six segments : print- ing papers , industrial packaging , consumer pack- aging , distribution , forest products , and specialty businesses and other .', 'the following table shows the components of net earnings for each of the last three years : in millions 2007 2006 2005 .'] | ['* corporate special items include restructuring and other charg- es , net ( gains ) losses on sales and impairments of businesses , gains on transformation plan forestland sales , goodwill impairment charges , insurance recoveries and reversals of reserves no longer required .', 'industry segment operating profits of $ 2.4 billion were $ 349 million higher in 2007 than in 2006 due principally to the benefits from higher average price realizations ( $ 461 million ) , the net impact of cost reduction initiatives , improved operating perform- ance and a more favorable mix of products sold ( $ 304 million ) , higher sales volumes ( $ 17 million ) , lower special item costs ( $ 115 million ) and other items ( $ 4 million ) .', 'these benefits more than offset the impacts of higher energy , raw material and freight costs ( $ 205 million ) , higher costs for planned mill maintenance outages ( $ 48 million ) , lower earn- ings from land sales ( $ 101 million ) , costs at the pensacola mill associated with the conversion of a machine to the production of linerboard ( $ 52 million ) and reduced earnings due to net acquisitions and divestitures ( $ 146 million ) .', 'segment operating profit ( in millions ) $ 2074 ( $ 205 ) ( $ 48 ) $ 17 ( $ 244 ) $ 2423$ 4 ( $ 52 ) ( $ 101 ) $ 461 $ 1000 $ 1500 $ 2000 $ 2500 $ 3000 .'] | in millions 2007 2006 2005
industry segment operating profits $ 2423 $ 2074 $ 1622
corporate items net -732 ( 732 ) -746 ( 746 ) -607 ( 607 )
corporate special items* 241 2373 -134 ( 134 )
interest expense net -297 ( 297 ) -521 ( 521 ) -595 ( 595 )
minority interest -5 ( 5 ) -9 ( 9 ) -9 ( 9 )
income tax benefit ( provision ) -415 ( 415 ) -1889 ( 1889 ) 407
discontinued operations -47 ( 47 ) -232 ( 232 ) 416
net earnings $ 1168 $ 1050 $ 1100 | add(2423, 2074), add(1622, #0), add(#1, const_3), divide(#2, const_2) | 3061.0 |
for december 31 , 2011 and december 31 , 2010 , what was the average unpaid principal balance outstanding of loans sold as a participant in these programs , in billions? | Pre-text: ['the table below reflects the estimated effects on pension expense of certain changes in annual assumptions , using 2012 estimated expense as a baseline .', 'change in assumption ( a ) estimated increase to 2012 pension expense ( in millions ) .']
####
Data Table:
========================================
change in assumption ( a ), estimatedincrease to 2012pensionexpense ( in millions )
.5% ( .5 % ) decrease in discount rate, $ 23
.5% ( .5 % ) decrease in expected long-term return on assets, $ 18
.5% ( .5 % ) increase in compensation rate, $ 2
========================================
####
Follow-up: ['( a ) the impact is the effect of changing the specified assumption while holding all other assumptions constant .', 'our pension plan contribution requirements are not particularly sensitive to actuarial assumptions .', 'investment performance has the most impact on contribution requirements and will drive the amount of permitted contributions in future years .', 'also , current law , including the provisions of the pension protection act of 2006 , sets limits as to both minimum and maximum contributions to the plan .', 'we do not expect to be required by law to make any contributions to the plan during 2012 .', 'we maintain other defined benefit plans that have a less significant effect on financial results , including various nonqualified supplemental retirement plans for certain employees .', 'recourse and repurchase obligations as discussed in note 3 loan sale and servicing activities and variable interest entities in the notes to consolidated financial statements in item 8 of this report , pnc has sold commercial mortgage and residential mortgage loans directly or indirectly in securitizations and whole-loan sale transactions with continuing involvement .', 'one form of continuing involvement includes certain recourse and loan repurchase obligations associated with the transferred assets in these transactions .', 'commercial mortgage loan recourse obligations we originate , close , and service certain multi-family commercial mortgage loans which are sold to fnma under fnma 2019s delegated underwriting and servicing ( dus ) program .', 'we participated in a similar program with the fhlmc .', 'under these programs , we generally assume up to a one-third pari passu risk of loss on unpaid principal balances through a loss share arrangement .', 'at december 31 , 2011 and december 31 , 2010 , the unpaid principal balance outstanding of loans sold as a participant in these programs was $ 13.0 billion and $ 13.2 billion , respectively .', 'the potential maximum exposure under the loss share arrangements was $ 4.0 billion at both december 31 , 2011 and december 31 , 2010 .', 'we maintain a reserve for estimated losses based on our exposure .', 'the reserve for losses under these programs totaled $ 47 million and $ 54 million as of december 31 , 2011 and december 31 , 2010 , respectively , and is included in other liabilities on our consolidated balance sheet .', 'if payment is required under these programs , we would not have a contractual interest in the collateral underlying the mortgage loans on which losses occurred , although the value of the collateral is taken into account in determining our share of such losses .', 'our exposure and activity associated with these recourse obligations are reported in the corporate & institutional banking segment .', 'residential mortgage loan and home equity repurchase obligations while residential mortgage loans are sold on a non-recourse basis , we assume certain loan repurchase obligations associated with mortgage loans we have sold to investors .', 'these loan repurchase obligations primarily relate to situations where pnc is alleged to have breached certain origination covenants and representations and warranties made to purchasers of the loans in the respective purchase and sale agreements .', 'residential mortgage loans covered by these loan repurchase obligations include first and second-lien mortgage loans we have sold through agency securitizations , non-agency securitizations , and whole-loan sale transactions .', 'as discussed in note 3 in the notes to consolidated financial statements in item 8 of this report , agency securitizations consist of mortgage loans sale transactions with fnma , fhlmc , and the government national mortgage association ( gnma ) program , while non-agency securitizations and whole-loan sale transactions consist of mortgage loans sale transactions with private investors .', 'our historical exposure and activity associated with agency securitization repurchase obligations has primarily been related to transactions with fnma and fhlmc , as indemnification and repurchase losses associated with federal housing agency ( fha ) and department of veterans affairs ( va ) -insured and uninsured loans pooled in gnma securitizations historically have been minimal .', 'repurchase obligation activity associated with residential mortgages is reported in the residential mortgage banking segment .', 'pnc 2019s repurchase obligations also include certain brokered home equity loans/lines that were sold to a limited number of private investors in the financial services industry by national city prior to our acquisition .', 'pnc is no longer engaged in the brokered home equity lending business , and our exposure under these loan repurchase obligations is limited to repurchases of the whole-loans sold in these transactions .', 'repurchase activity associated with brokered home equity lines/loans are reported in the non-strategic assets portfolio segment .', 'loan covenants and representations and warranties are established through loan sale agreements with various investors to provide assurance that pnc has sold loans to the pnc financial services group , inc .', '2013 form 10-k 69 .'] | 13.1 | PNC/2011/page_78.pdf-1 | ['the table below reflects the estimated effects on pension expense of certain changes in annual assumptions , using 2012 estimated expense as a baseline .', 'change in assumption ( a ) estimated increase to 2012 pension expense ( in millions ) .'] | ['( a ) the impact is the effect of changing the specified assumption while holding all other assumptions constant .', 'our pension plan contribution requirements are not particularly sensitive to actuarial assumptions .', 'investment performance has the most impact on contribution requirements and will drive the amount of permitted contributions in future years .', 'also , current law , including the provisions of the pension protection act of 2006 , sets limits as to both minimum and maximum contributions to the plan .', 'we do not expect to be required by law to make any contributions to the plan during 2012 .', 'we maintain other defined benefit plans that have a less significant effect on financial results , including various nonqualified supplemental retirement plans for certain employees .', 'recourse and repurchase obligations as discussed in note 3 loan sale and servicing activities and variable interest entities in the notes to consolidated financial statements in item 8 of this report , pnc has sold commercial mortgage and residential mortgage loans directly or indirectly in securitizations and whole-loan sale transactions with continuing involvement .', 'one form of continuing involvement includes certain recourse and loan repurchase obligations associated with the transferred assets in these transactions .', 'commercial mortgage loan recourse obligations we originate , close , and service certain multi-family commercial mortgage loans which are sold to fnma under fnma 2019s delegated underwriting and servicing ( dus ) program .', 'we participated in a similar program with the fhlmc .', 'under these programs , we generally assume up to a one-third pari passu risk of loss on unpaid principal balances through a loss share arrangement .', 'at december 31 , 2011 and december 31 , 2010 , the unpaid principal balance outstanding of loans sold as a participant in these programs was $ 13.0 billion and $ 13.2 billion , respectively .', 'the potential maximum exposure under the loss share arrangements was $ 4.0 billion at both december 31 , 2011 and december 31 , 2010 .', 'we maintain a reserve for estimated losses based on our exposure .', 'the reserve for losses under these programs totaled $ 47 million and $ 54 million as of december 31 , 2011 and december 31 , 2010 , respectively , and is included in other liabilities on our consolidated balance sheet .', 'if payment is required under these programs , we would not have a contractual interest in the collateral underlying the mortgage loans on which losses occurred , although the value of the collateral is taken into account in determining our share of such losses .', 'our exposure and activity associated with these recourse obligations are reported in the corporate & institutional banking segment .', 'residential mortgage loan and home equity repurchase obligations while residential mortgage loans are sold on a non-recourse basis , we assume certain loan repurchase obligations associated with mortgage loans we have sold to investors .', 'these loan repurchase obligations primarily relate to situations where pnc is alleged to have breached certain origination covenants and representations and warranties made to purchasers of the loans in the respective purchase and sale agreements .', 'residential mortgage loans covered by these loan repurchase obligations include first and second-lien mortgage loans we have sold through agency securitizations , non-agency securitizations , and whole-loan sale transactions .', 'as discussed in note 3 in the notes to consolidated financial statements in item 8 of this report , agency securitizations consist of mortgage loans sale transactions with fnma , fhlmc , and the government national mortgage association ( gnma ) program , while non-agency securitizations and whole-loan sale transactions consist of mortgage loans sale transactions with private investors .', 'our historical exposure and activity associated with agency securitization repurchase obligations has primarily been related to transactions with fnma and fhlmc , as indemnification and repurchase losses associated with federal housing agency ( fha ) and department of veterans affairs ( va ) -insured and uninsured loans pooled in gnma securitizations historically have been minimal .', 'repurchase obligation activity associated with residential mortgages is reported in the residential mortgage banking segment .', 'pnc 2019s repurchase obligations also include certain brokered home equity loans/lines that were sold to a limited number of private investors in the financial services industry by national city prior to our acquisition .', 'pnc is no longer engaged in the brokered home equity lending business , and our exposure under these loan repurchase obligations is limited to repurchases of the whole-loans sold in these transactions .', 'repurchase activity associated with brokered home equity lines/loans are reported in the non-strategic assets portfolio segment .', 'loan covenants and representations and warranties are established through loan sale agreements with various investors to provide assurance that pnc has sold loans to the pnc financial services group , inc .', '2013 form 10-k 69 .'] | ========================================
change in assumption ( a ), estimatedincrease to 2012pensionexpense ( in millions )
.5% ( .5 % ) decrease in discount rate, $ 23
.5% ( .5 % ) decrease in expected long-term return on assets, $ 18
.5% ( .5 % ) increase in compensation rate, $ 2
======================================== | add(13.0, 13.2), divide(#0, const_2) | 13.1 |
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