Datasets:

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MehdiHosseiniMoghadam

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ConvFinQA

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[ "does not believe are in our and our stockholders 2019 best interest .", "the rights plan is intended to protect stockholders in the event of an unfair or coercive offer to acquire the company and to provide our board of directors with adequate time to evaluate unsolicited offers .", "the rights plan may prevent or make takeovers or unsolicited corporate transactions with respect to our company more difficult , even if stockholders may consider such transactions favorable , possibly including transactions in which stockholders might otherwise receive a premium for their shares .", "item 1b .", "unresolved staff comments item 2 .", "properties as of december 31 , 2016 , our significant properties used in connection with switching centers , data centers , call centers and warehouses were as follows: ." ]

[ "as of december 31 , 2016 , we leased approximately 60000 cell sites .", "as of december 31 , 2016 , we leased approximately 2000 t-mobile and metropcs retail locations , including stores and kiosks ranging in size from approximately 100 square feet to 17000 square feet .", "we currently lease office space totaling approximately 950000 square feet for our corporate headquarters in bellevue , washington .", "we use these offices for engineering and administrative purposes .", "we also lease space throughout the u.s. , totaling approximately 1200000 square feet as of december 31 , 2016 , for use by our regional offices primarily for administrative , engineering and sales purposes .", "item 3 .", "legal proceedings see note 12 2013 commitments and contingencies of the notes to the consolidated financial statements included in part ii , item 8 of this form 10-k for information regarding certain legal proceedings in which we are involved .", "item 4 .", "mine safety disclosures part ii .", "item 5 .", "market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities market information our common stock is traded on the nasdaq global select market of the nasdaq stock market llc ( 201cnasdaq 201d ) under the symbol 201ctmus . 201d as of december 31 , 2016 , there were 309 registered stockholders of record of our common stock , but we estimate the total number of stockholders to be much higher as a number of our shares are held by brokers or dealers for their customers in street name. ." ]

[ [ "", "Approximate Number", "Approximate Size in Square Feet" ], [ "Switching centers", "57", "1,400,000" ], [ "Data centers", "8", "600,000" ], [ "Call center", "16", "1,300,000" ], [ "Warehouses", "16", "500,000" ] ]

[ [ "", "approximate number", "approximate size in square feet" ], [ "switching centers", "57", "1400000" ], [ "data centers", "8", "600000" ], [ "call center", "16", "1300000" ], [ "warehouses", "16", "500000" ] ]

[]

[ "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", "$7,680", "$7,757", "$7,457" ], [ "Operating profit", "1,358", "1,431", "1,256" ], [ "Operating margins", "17.7%", "18.4%", "16.8%" ], [ "Backlog at year-end", "$13,600", "$15,000", "$14,700" ] ]

[ [ "", "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" ] ]

[]

[ "2016 compared with 2015 net gains on investments of $ 57 million in 2016 decreased $ 52 million from 2015 due to lower net gains in 2016 .", "net gains on investments in 2015 included a $ 40 million gain related to the bkca acquisition and a $ 35 million unrealized gain on a private equity investment .", "interest and dividend income increased $ 14 million from 2015 primarily due to higher dividend income in 2016 .", "2015 compared with 2014 net gains on investments of $ 109 million in 2015 decreased $ 45 million from 2014 due to lower net gains in 2015 .", "net gains on investments in 2015 included a $ 40 million gain related to the bkca acquisition and a $ 35 million unrealized gain on a private equity investment .", "net gains on investments in 2014 included the positive impact of the monetization of a nonstrategic , opportunistic private equity investment .", "interest expense decreased $ 28 million from 2014 primarily due to repayments of long-term borrowings in the fourth quarter of 2014 .", "income tax expense ." ]

[ "( 1 ) see non-gaap financial measures for further information on and reconciliation of as adjusted items .", "( 2 ) net of net income ( loss ) attributable to nci .", "the company 2019s tax rate is affected by tax rates in foreign jurisdictions and the relative amount of income earned in those jurisdictions , which the company expects to be fairly consistent in the near term .", "the significant foreign jurisdictions that have lower statutory tax rates than the u.s .", "federal statutory rate of 35% ( 35 % ) include the united kingdom , channel islands , ireland and canada .", "u.s .", "income taxes were not provided for certain undistributed foreign earnings intended to be indefinitely reinvested outside the united states .", "2016 .", "income tax expense ( gaap ) reflected : 2022 a net noncash benefit of $ 30 million , primarily associated with the revaluation of certain deferred income tax liabilities ; and 2022 a benefit from $ 65 million of nonrecurring items , including the resolution of certain outstanding tax matters .", "the as adjusted effective tax rate of 29.6% ( 29.6 % ) for 2016 excluded the net noncash benefit of $ 30 million mentioned above , as it will not have a cash flow impact and to ensure comparability among periods presented .", "2015 .", "income tax expense ( gaap ) reflected : 2022 a net noncash benefit of $ 54 million , primarily associated with the revaluation of certain deferred income tax liabilities ; and 2022 a benefit from $ 75 million of nonrecurring items , primarily due to the realization of losses from changes in the company 2019s organizational tax structure and the resolution of certain outstanding tax matters .", "the as adjusted effective tax rate of 28.4% ( 28.4 % ) for 2015 excluded the net noncash benefit of $ 54 million mentioned above , as it will not have a cash flow impact and to ensure comparability among periods presented .", "2014 .", "income tax expense ( gaap ) reflected : 2022 a $ 94 million tax benefit , primarily due to the resolution of certain outstanding tax matters related to the acquisition of bgi , including the previously mentioned $ 50 million tax benefit ( see executive summary for more information ) ; 2022 a $ 73 million net tax benefit related to several favorable nonrecurring items ; and 2022 a net noncash benefit of $ 9 million associated with the revaluation of deferred income tax liabilities .", "the as adjusted effective tax rate of 26.6% ( 26.6 % ) for 2014 excluded the $ 9 million net noncash benefit as it will not have a cash flow impact and to ensure comparability among periods presented and the $ 50 million tax benefit mentioned above .", "the $ 50 million general and administrative expense and $ 50 million tax benefit have been excluded from as adjusted results as there is no impact on blackrock 2019s book value .", "balance sheet overview as adjusted balance sheet the following table presents a reconciliation of the consolidated statement of financial condition presented on a gaap basis to the consolidated statement of financial condition , excluding the impact of separate account assets and separate account collateral held under securities lending agreements ( directly related to lending separate account securities ) and separate account liabilities and separate account collateral liabilities under securities lending agreements and consolidated sponsored investment funds , including consolidated vies .", "the company presents the as adjusted balance sheet as additional information to enable investors to exclude certain ." ]

[ [ "", "GAAP", "As adjusted" ], [ "(in millions)", "2016", "2015", "2014", "2016", "2015", "2014" ], [ "Operating income⁽¹⁾", "$4,570", "$4,664", "$4,474", "$4,674", "$4,695", "$4,563" ], [ "Total nonoperating income (expense)^(1),(2)", "(108)", "(69)", "(49)", "(108)", "(70)", "(56)" ], [ "Income before income taxes⁽²⁾", "$4,462", "$4,595", "$4,425", "$4,566", "$4,625", "$4,507" ], [ "Income tax expense", "$1,290", "$1,250", "$1,131", "$1,352", "$1,312", "$1,197" ], [ "Effective tax rate", "28.9%", "27.2%", "25.6%", "29.6%", "28.4%", "26.6%" ] ]

[ [ "( in millions )", "gaap 2016", "gaap 2015", "gaap 2014", "gaap 2016", "gaap 2015", "2014" ], [ "operating income ( 1 )", "$ 4570", "$ 4664", "$ 4474", "$ 4674", "$ 4695", "$ 4563" ], [ "total nonoperating income ( expense ) ( 1 ) ( 2 )", "-108 ( 108 )", "-69 ( 69 )", "-49 ( 49 )", "-108 ( 108 )", "-70 ( 70 )", "-56 ( 56 )" ], [ "income before income taxes ( 2 )", "$ 4462", "$ 4595", "$ 4425", "$ 4566", "$ 4625", "$ 4507" ], [ "income tax expense", "$ 1290", "$ 1250", "$ 1131", "$ 1352", "$ 1312", "$ 1197" ], [ "effective tax rate", "28.9% ( 28.9 % )", "27.2% ( 27.2 % )", "25.6% ( 25.6 % )", "29.6% ( 29.6 % )", "28.4% ( 28.4 % )", "26.6% ( 26.6 % )" ] ]

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[ "during 2010 , we granted 3.8 million rsus and 1.1 million employee sars .", "see footnote no .", "4 , 201cshare-based compensation , 201d of the notes to our financial statements for additional information .", "new accounting standards see footnote no .", "1 , 201csummary of significant accounting policies , 201d of the notes to our financial statements for information related to our adoption of new accounting standards in 2010 and for information on our anticipated adoption of recently issued accounting standards .", "liquidity and capital resources cash requirements and our credit facilities our credit facility , which expires on may 14 , 2012 , and associated letters of credit , provide for $ 2.4 billion of aggregate effective borrowings .", "borrowings under the credit facility bear interest at the london interbank offered rate ( libor ) plus a fixed spread based on the credit ratings for our public debt .", "we also pay quarterly fees on the credit facility at a rate based on our public debt rating .", "for additional information on our credit facility , including participating financial institutions , see exhibit 10 , 201camended and restated credit agreement , 201d to our current report on form 8-k filed with the sec on may 16 , 2007 .", "although our credit facility does not expire until 2012 , we expect that we may extend or replace it during 2011 .", "the credit facility contains certain covenants , including a single financial covenant that limits our maximum leverage ( consisting of adjusted total debt to consolidated ebitda , each as defined in the credit facility ) to not more than 4 to 1 .", "our outstanding public debt does not contain a corresponding financial covenant or a requirement that we maintain certain financial ratios .", "we currently satisfy the covenants in our credit facility and public debt instruments , including the leverage covenant under the credit facility , and do not expect the covenants to restrict our ability to meet our anticipated borrowing and guarantee levels or increase those levels should we need to do so in the future .", "we believe the credit facility , together with cash we expect to generate from operations and our ability to raise capital , remains adequate to meet our short-term and long-term liquidity requirements , finance our long-term growth plans , meet debt service , and fulfill other cash requirements .", "at year-end 2010 , our available borrowing capacity amounted to $ 2.831 billion and reflected borrowing capacity of $ 2.326 billion under our credit facility and our cash balance of $ 505 million .", "we calculate that borrowing capacity by taking $ 2.404 billion of effective aggregate bank commitments under our credit facility and subtracting $ 78 million of outstanding letters of credit under our credit facility .", "during 2010 , we repaid our outstanding credit facility borrowings and had no outstanding balance at year-end .", "as noted in the previous paragraphs , we anticipate that this available capacity will be adequate to fund our liquidity needs .", "since we continue to have ample flexibility under the credit facility 2019s covenants , we also expect that undrawn bank commitments under the credit facility will remain available to us even if business conditions were to deteriorate markedly .", "cash from operations cash from operations , depreciation expense , and amortization expense for the last three fiscal years are as follows : ( $ in millions ) 2010 2009 2008 ." ]

[ "our ratio of current assets to current liabilities was roughly 1.4 to 1.0 at year-end 2010 and 1.2 to 1.0 at year-end 2009 .", "we minimize working capital through cash management , strict credit-granting policies , and aggressive collection efforts .", "we also have significant borrowing capacity under our credit facility should we need additional working capital. ." ]

[ [ "<i>($ in millions)</i>", "2010", "2009", "2008" ], [ "Cash from operations", "$1,151", "$868", "$641" ], [ "Depreciation expense", "138", "151", "155" ], [ "Amortization expense", "40", "34", "35" ] ]

[ [ "( $ in millions )", "2010", "2009", "2008" ], [ "cash from operations", "$ 1151", "$ 868", "$ 641" ], [ "depreciation expense", "138", "151", "155" ], [ "amortization expense", "40", "34", "35" ] ]

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[ "of exercise for stock options exercised or at period end for outstanding stock options , less the applicable exercise price .", "the company issued new shares to satisfy exercised stock options .", "compensation expense the company recorded $ 43 million , $ 34 million , and $ 44 million of expense related to stock awards for the years ended december 31 , 2015 , 2014 , and 2013 , respectively .", "the company recorded $ 17 million , $ 13 million , and $ 17 million as a tax benefit related to stock awards and stock options for the years ended december 31 , 2015 , 2014 , and 2013 , respectively .", "the company recognized tax benefits for the years ended december 31 , 2015 , 2014 , and 2013 , of $ 41 million , $ 53 million , and $ 32 million , respectively , from the issuance of stock in settlement of stock awards , and $ 4 million , $ 5 million , and $ 4 million for the years ended december 31 , 2015 , 2014 , and 2013 , respectively , from the exercise of stock options .", "unrecognized compensation expense as of december 31 , 2015 , the company had less than $ 1 million of unrecognized compensation expense associated with rsrs granted in 2015 and 2014 , which will be recognized over a weighted average period of 1.0 year , and $ 25 million of unrecognized expense associated with rpsrs granted in 2015 , 2014 , and 2013 , which will be recognized over a weighted average period of 0.6 years .", "as of december 31 , 2015 , the company had no unrecognized compensation expense related to stock options .", "compensation expense for stock options was fully recognized as of december 31 , 2013 .", "20 .", "unaudited selected quarterly data unaudited quarterly financial results for the years ended december 31 , 2015 and 2014 , are set forth in the following tables: ." ]

[ "( 1 ) in the second quarter of 2015 , the company recorded a $ 59 million goodwill impairment charge .", "during the same period , the company recorded $ 136 million of operating income as a result of the aon settlement .", "( 2 ) in the fourth quarter of 2015 , the company recorded $ 16 million goodwill impairment and $ 27 million intangible asset impairment charges. ." ]

[ [ "", "Year Ended December 31, 2015" ], [ "($ in millions, except per share amounts)", "1st Qtr", "2nd Qtr⁽¹⁾", "3rd Qtr", "4th Qtr⁽²⁾" ], [ "Sales and service revenues", "$1,570", "$1,745", "$1,800", "$1,905" ], [ "Operating income (loss)", "156", "269", "200", "144" ], [ "Earnings (loss) before income taxes", "133", "244", "175", "80" ], [ "Net earnings (loss)", "87", "156", "111", "50" ], [ "Dividends declared per share", "$0.40", "$0.40", "$0.40", "$0.50" ], [ "Basic earnings (loss) per share", "$1.80", "$3.22", "$2.31", "$1.07" ], [ "Diluted earnings (loss) per share", "$1.79", "$3.20", "$2.29", "$1.06" ] ]

[ [ "( $ in millions except per share amounts )", "year ended december 31 2015 1st qtr", "year ended december 31 2015 2nd qtr ( 1 )", "year ended december 31 2015 3rd qtr", "year ended december 31 2015 4th qtr ( 2 )" ], [ "sales and service revenues", "$ 1570", "$ 1745", "$ 1800", "$ 1905" ], [ "operating income ( loss )", "156", "269", "200", "144" ], [ "earnings ( loss ) before income taxes", "133", "244", "175", "80" ], [ "net earnings ( loss )", "87", "156", "111", "50" ], [ "dividends declared per share", "$ 0.40", "$ 0.40", "$ 0.40", "$ 0.50" ], [ "basic earnings ( loss ) per share", "$ 1.80", "$ 3.22", "$ 2.31", "$ 1.07" ], [ "diluted earnings ( loss ) per share", "$ 1.79", "$ 3.20", "$ 2.29", "$ 1.06" ] ]

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[ "notes to consolidated financial statements ( continued ) | 72 snap-on incorporated following is a reconciliation of the beginning and ending amount of unrecognized tax benefits : ( amounts in millions ) amount ." ]

[ "of the $ 18.7 million of unrecognized tax benefits at the end of 2007 , approximately $ 16.2 million would impact the effective income tax rate if recognized .", "interest and penalties related to unrecognized tax benefits are recorded in income tax expense .", "during the years ended december 29 , 2007 , december 30 , 2006 , and december 31 , 2005 , the company recognized approximately $ 1.2 million , $ 0.5 million and ( $ 0.5 ) million in net interest expense ( benefit ) , respectively .", "the company has provided for approximately $ 3.4 million , $ 2.2 million , and $ 1.7 million of accrued interest related to unrecognized tax benefits at the end of fiscal year 2007 , 2006 and 2005 , respectively .", "during the next 12 months , the company does not anticipate any significant changes to the total amount of unrecognized tax benefits , other than the accrual of additional interest expense in an amount similar to the prior year 2019s expense .", "with few exceptions , snap-on is no longer subject to u.s .", "federal and state/local income tax examinations by tax authorities for years prior to 2003 , and snap-on is no longer subject to non-u.s .", "income tax examinations by tax authorities for years prior to 2001 .", "the undistributed earnings of all non-u.s .", "subsidiaries totaled $ 338.5 million , $ 247.4 million and $ 173.6 million at the end of fiscal 2007 , 2006 and 2005 , respectively .", "snap-on has not provided any deferred taxes on these undistributed earnings as it considers the undistributed earnings to be permanently invested .", "determination of the amount of unrecognized deferred income tax liability related to these earnings is not practicable .", "the american jobs creation act of 2004 ( the 201cajca 201d ) created a one-time tax incentive for u.s .", "corporations to repatriate accumulated foreign earnings by providing a tax deduction of 85% ( 85 % ) of qualifying dividends received from foreign affiliates .", "under the provisions of the ajca , snap-on repatriated approximately $ 93 million of qualifying dividends in 2005 that resulted in additional income tax expense of $ 3.3 million for the year .", "note 9 : short-term and long-term debt notes payable and long-term debt as of december 29 , 2007 , was $ 517.9 million ; no commercial paper was outstanding at december 29 , 2007 .", "as of december 30 , 2006 , notes payable and long-term debt was $ 549.2 million , including $ 314.9 million of commercial paper .", "snap-on presented $ 300 million of the december 30 , 2006 , outstanding commercial paper as 201clong-term debt 201d on the accompanying december 30 , 2006 , consolidated balance sheet .", "on january 12 , 2007 , snap-on sold $ 300 million of unsecured notes consisting of $ 150 million of floating rate notes that mature on january 12 , 2010 , and $ 150 million of fixed rate notes that mature on january 15 , 2017 .", "interest on the floating rate notes accrues at a rate equal to the three-month london interbank offer rate plus 0.13% ( 0.13 % ) per year and is payable quarterly .", "interest on the fixed rate notes accrues at a rate of 5.50% ( 5.50 % ) per year and is payable semi-annually .", "snap-on used the proceeds from the sale of the notes , net of $ 1.5 million of transaction costs , to repay commercial paper obligations issued to finance the acquisition of business solutions .", "on january 12 , 2007 , the company also terminated a $ 250 million bridge credit agreement that snap-on established prior to its acquisition of business solutions. ." ]

[ [ "<i>(Amounts in millions)</i>", "Amount" ], [ "Unrecognized tax benefits as of December 31, 2006", "$21.3" ], [ "Gross increases – tax positions in prior periods", "0.5" ], [ "Gross decreases – tax positions in prior periods", "(0.4)" ], [ "Gross increases – tax positions in the current period", "0.5" ], [ "Settlements with taxing authorities", "(3.0)" ], [ "Lapsing of statutes of limitations", "(0.2)" ], [ "Unrecognized tax benefits as of December 29, 2007", "$18.7" ] ]

[ [ "( amounts in millions )", "amount" ], [ "unrecognized tax benefits as of december 31 2006", "$ 21.3" ], [ "gross increases 2013 tax positions in prior periods", "0.5" ], [ "gross decreases 2013 tax positions in prior periods", "-0.4 ( 0.4 )" ], [ "gross increases 2013 tax positions in the current period", "0.5" ], [ "settlements with taxing authorities", "-3.0 ( 3.0 )" ], [ "lapsing of statutes of limitations", "-0.2 ( 0.2 )" ], [ "unrecognized tax benefits as of december 29 2007", "$ 18.7" ] ]

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[ "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", "$9,640", "$8,700" ], [ "Net interest margin", "3.94%", "3.92%" ] ]

[ [ "year ended december 31dollars in millions", "2012", "2011" ], [ "net interest income", "$ 9640", "$ 8700" ], [ "net interest margin", "3.94% ( 3.94 % )", "3.92% ( 3.92 % )" ] ]

[]

[ "the following table sets forth the components of foreign currency translation adjustments for fiscal 2011 , 2010 and 2009 ( in thousands ) : beginning balance foreign currency translation adjustments income tax effect relating to translation adjustments for undistributed foreign earnings ending balance $ 7632 ( 2208 ) $ 10580 $ 10640 ( 4144 ) $ 7632 $ ( 431 ) 17343 ( 6272 ) $ 10640 stock repurchase program to facilitate our stock repurchase program , designed to return value to our stockholders and minimize dilution from stock issuances , we repurchase shares in the open market and also enter into structured repurchase agreements with third-parties .", "authorization to repurchase shares to cover on-going dilution was not subject to expiration .", "however , this repurchase program was limited to covering net dilution from stock issuances and was subject to business conditions and cash flow requirements as determined by our board of directors from time to time .", "during the third quarter of fiscal 2010 , our board of directors approved an amendment to our stock repurchase program authorized in april 2007 from a non-expiring share-based authority to a time-constrained dollar-based authority .", "as part of this amendment , the board of directors granted authority to repurchase up to $ 1.6 billion in common stock through the end of fiscal 2012 .", "this amended program did not affect the $ 250.0 million structured stock repurchase agreement entered into during march 2010 .", "as of december 3 , 2010 , no prepayments remain under that agreement .", "during fiscal 2011 , 2010 and 2009 , we entered into several structured repurchase agreements with large financial institutions , whereupon we provided the financial institutions with prepayments totaling $ 695.0 million , $ 850.0 million and $ 350.0 million , respectively .", "of the $ 850.0 million of prepayments during fiscal 2010 , $ 250.0 million was under the stock repurchase program prior to the program amendment and the remaining $ 600.0 million was under the amended $ 1.6 billion time-constrained dollar- based authority .", "we enter into these agreements in order to take advantage of repurchasing shares at a guaranteed discount to the volume weighted average price ( 201cvwap 201d ) of our common stock over a specified period of time .", "we only enter into such transactions when the discount that we receive is higher than the foregone return on our cash prepayments to the financial institutions .", "there were no explicit commissions or fees on these structured repurchases .", "under the terms of the agreements , there is no requirement for the financial institutions to return any portion of the prepayment to us .", "the financial institutions agree to deliver shares to us at monthly intervals during the contract term .", "the parameters used to calculate the number of shares deliverable are : the total notional amount of the contract , the number of trading days in the contract , the number of trading days in the interval and the average vwap of our stock during the interval less the agreed upon discount .", "during fiscal 2011 , we repurchased approximately 21.8 million shares at an average price of $ 31.81 through structured repurchase agreements entered into during fiscal 2011 .", "during fiscal 2010 , we repurchased approximately 31.2 million shares at an average price of $ 29.19 through structured repurchase agreements entered into during fiscal 2009 and fiscal 2010 .", "during fiscal 2009 , we repurchased approximately 15.2 million shares at an average price per share of $ 27.89 through structured repurchase agreements entered into during fiscal 2008 and fiscal 2009 .", "for fiscal 2011 , 2010 and 2009 , the prepayments were classified as treasury stock on our consolidated balance sheets at the payment date , though only shares physically delivered to us by december 2 , 2011 , december 3 , 2010 and november 27 , 2009 were excluded from the computation of earnings per share .", "as of december 2 , 2011 and december 3 , 2010 , no prepayments remained under these agreements .", "as of november 27 , 2009 , approximately $ 59.9 million of prepayments remained under these agreements .", "subsequent to december 2 , 2011 , as part of our $ 1.6 billion stock repurchase program , we entered into a structured stock repurchase agreement with a large financial institution whereupon we provided them with a prepayment of $ 80.0 million .", "this amount will be classified as treasury stock on our consolidated balance sheets .", "upon completion of the $ 80.0 million stock table of contents adobe systems incorporated notes to consolidated financial statements ( continued ) jarcamo typewritten text ." ]

[ "the following table sets forth the components of foreign currency translation adjustments for fiscal 2011 , 2010 and 2009 ( in thousands ) : beginning balance foreign currency translation adjustments income tax effect relating to translation adjustments for undistributed foreign earnings ending balance $ 7632 ( 2208 ) $ 10580 $ 10640 ( 4144 ) $ 7632 $ ( 431 ) 17343 ( 6272 ) $ 10640 stock repurchase program to facilitate our stock repurchase program , designed to return value to our stockholders and minimize dilution from stock issuances , we repurchase shares in the open market and also enter into structured repurchase agreements with third-parties .", "authorization to repurchase shares to cover on-going dilution was not subject to expiration .", "however , this repurchase program was limited to covering net dilution from stock issuances and was subject to business conditions and cash flow requirements as determined by our board of directors from time to time .", "during the third quarter of fiscal 2010 , our board of directors approved an amendment to our stock repurchase program authorized in april 2007 from a non-expiring share-based authority to a time-constrained dollar-based authority .", "as part of this amendment , the board of directors granted authority to repurchase up to $ 1.6 billion in common stock through the end of fiscal 2012 .", "this amended program did not affect the $ 250.0 million structured stock repurchase agreement entered into during march 2010 .", "as of december 3 , 2010 , no prepayments remain under that agreement .", "during fiscal 2011 , 2010 and 2009 , we entered into several structured repurchase agreements with large financial institutions , whereupon we provided the financial institutions with prepayments totaling $ 695.0 million , $ 850.0 million and $ 350.0 million , respectively .", "of the $ 850.0 million of prepayments during fiscal 2010 , $ 250.0 million was under the stock repurchase program prior to the program amendment and the remaining $ 600.0 million was under the amended $ 1.6 billion time-constrained dollar- based authority .", "we enter into these agreements in order to take advantage of repurchasing shares at a guaranteed discount to the volume weighted average price ( 201cvwap 201d ) of our common stock over a specified period of time .", "we only enter into such transactions when the discount that we receive is higher than the foregone return on our cash prepayments to the financial institutions .", "there were no explicit commissions or fees on these structured repurchases .", "under the terms of the agreements , there is no requirement for the financial institutions to return any portion of the prepayment to us .", "the financial institutions agree to deliver shares to us at monthly intervals during the contract term .", "the parameters used to calculate the number of shares deliverable are : the total notional amount of the contract , the number of trading days in the contract , the number of trading days in the interval and the average vwap of our stock during the interval less the agreed upon discount .", "during fiscal 2011 , we repurchased approximately 21.8 million shares at an average price of $ 31.81 through structured repurchase agreements entered into during fiscal 2011 .", "during fiscal 2010 , we repurchased approximately 31.2 million shares at an average price of $ 29.19 through structured repurchase agreements entered into during fiscal 2009 and fiscal 2010 .", "during fiscal 2009 , we repurchased approximately 15.2 million shares at an average price per share of $ 27.89 through structured repurchase agreements entered into during fiscal 2008 and fiscal 2009 .", "for fiscal 2011 , 2010 and 2009 , the prepayments were classified as treasury stock on our consolidated balance sheets at the payment date , though only shares physically delivered to us by december 2 , 2011 , december 3 , 2010 and november 27 , 2009 were excluded from the computation of earnings per share .", "as of december 2 , 2011 and december 3 , 2010 , no prepayments remained under these agreements .", "as of november 27 , 2009 , approximately $ 59.9 million of prepayments remained under these agreements .", "subsequent to december 2 , 2011 , as part of our $ 1.6 billion stock repurchase program , we entered into a structured stock repurchase agreement with a large financial institution whereupon we provided them with a prepayment of $ 80.0 million .", "this amount will be classified as treasury stock on our consolidated balance sheets .", "upon completion of the $ 80.0 million stock table of contents adobe systems incorporated notes to consolidated financial statements ( continued ) jarcamo typewritten text ." ]

[ [ "", "2011", "2010", "2009" ], [ "Beginning balance", "$7,632", "$10,640", "$(431)" ], [ "Foreign currency translation adjustments", "5,156", "(4,144)", "17,343" ], [ "Income tax effect relating to translation adjustments forundistributed foreign earnings", "(2,208)", "1,136", "(6,272)" ], [ "Ending balance", "$10,580", "$7,632", "$10,640" ] ]

[ [ "", "2011", "2010", "2009" ], [ "beginning balance", "$ 7632", "$ 10640", "$ -431 ( 431 )" ], [ "foreign currency translation adjustments", "5156", "-4144 ( 4144 )", "17343" ], [ "income tax effect relating to translation adjustments forundistributed foreign earnings", "-2208 ( 2208 )", "1136", "-6272 ( 6272 )" ], [ "ending balance", "$ 10580", "$ 7632", "$ 10640" ] ]

[ { "arg1": "31.81", "arg2": "29.19", "op": "minus1-1", "res": "2.62" }, { "arg1": "#0", "arg2": "29.19", "op": "divide1-2", "res": "9.0%" } ]

[ "operating profit for the segment decreased by 1% ( 1 % ) in 2010 compared to 2009 .", "for the year , operating profit declines in defense more than offset an increase in civil , while operating profit at intelligence essentially was unchanged .", "the $ 27 million decrease in operating profit at defense primarily was attributable to a decrease in the level of favorable performance adjustments on mission and combat systems activities in 2010 .", "the $ 19 million increase in civil principally was due to higher volume on enterprise civilian services .", "operating profit for the segment decreased by 3% ( 3 % ) in 2009 compared to 2008 .", "operating profit declines in civil and intelligence partially were offset by growth in defense .", "the decrease of $ 29 million in civil 2019s operating profit primarily was attributable to a reduction in the level of favorable performance adjustments on enterprise civilian services programs in 2009 compared to 2008 .", "the decrease in operating profit of $ 27 million at intelligence mainly was due to a reduction in the level of favorable performance adjustments on security solution activities in 2009 compared to 2008 .", "the increase in defense 2019s operating profit of $ 29 million mainly was due to volume and improved performance in mission and combat systems .", "the decrease in backlog during 2010 compared to 2009 mainly was due to higher sales volume on enterprise civilian service programs at civil , including volume associated with the dris 2010 program , and mission and combat system programs at defense .", "backlog decreased in 2009 compared to 2008 due to u.s .", "government 2019s exercise of the termination for convenience clause on the tsat mission operations system ( tmos ) contract at defense , which resulted in a $ 1.6 billion reduction in orders .", "this decline more than offset increased orders on enterprise civilian services programs at civil .", "we expect is&gs will experience a low single digit percentage decrease in sales for 2011 as compared to 2010 .", "this decline primarily is due to completion of most of the work associated with the dris 2010 program .", "operating profit in 2011 is expected to decline in relationship to the decline in sales volume , while operating margins are expected to be comparable between the years .", "space systems our space systems business segment is engaged in the design , research and development , engineering , and production of satellites , strategic and defensive missile systems , and space transportation systems , including activities related to the planned replacement of the space shuttle .", "government satellite programs include the advanced extremely high frequency ( aehf ) system , the mobile user objective system ( muos ) , the global positioning satellite iii ( gps iii ) system , the space-based infrared system ( sbirs ) , and the geostationary operational environmental satellite r-series ( goes-r ) .", "strategic and missile defense programs include the targets and countermeasures program and the fleet ballistic missile program .", "space transportation includes the nasa orion program and , through ownership interests in two joint ventures , expendable launch services ( united launch alliance , or ula ) and space shuttle processing activities for the u.s .", "government ( united space alliance , or usa ) .", "the space shuttle is expected to complete its final flight mission in 2011 and our involvement with its launch and processing activities will end at that time .", "space systems 2019 operating results included the following : ( in millions ) 2010 2009 2008 ." ]

[ "net sales for space systems decreased by 5% ( 5 % ) in 2010 compared to 2009 .", "sales declined in all three lines of business during the year .", "the $ 253 million decrease in space transportation principally was due to lower volume on the space shuttle external tank , commercial launch vehicle activity and other human space flight programs , which partially were offset by higher volume on the orion program .", "there were no commercial launches in 2010 compared to one commercial launch in 2009 .", "strategic & defensive missile systems ( s&dms ) sales declined $ 147 million principally due to lower volume on defensive missile programs .", "the $ 8 million sales decline in satellites primarily was attributable to lower volume on commercial satellites , which partially were offset by higher volume on government satellite activities .", "there was one commercial satellite delivery in 2010 and one commercial satellite delivery in 2009 .", "net sales for space systems increased 8% ( 8 % ) in 2009 compared to 2008 .", "during the year , sales growth at satellites and space transportation offset a decline in s&dms .", "the sales growth of $ 707 million in satellites was due to higher volume in government satellite activities , which partially was offset by lower volume in commercial satellite activities .", "there was one commercial satellite delivery in 2009 and two deliveries in 2008 .", "the increase in sales of $ 21 million in space transportation primarily was due to higher volume on the orion program , which more than offset a decline in the space shuttle 2019s external tank program .", "there was one commercial launch in both 2009 and 2008 .", "s&dms 2019 sales decreased by $ 102 million mainly due to lower volume on defensive missile programs , which more than offset growth in strategic missile programs. ." ]

[ [ "<i>(In millions)</i>", "2010", "2009", "<i>2008</i>" ], [ "Net sales", "$8,246", "$8,654", "$8,027" ], [ "Operating profit", "972", "972", "953" ], [ "Operating margin", "11.8%", "11.2%", "11.9%" ], [ "Backlog at year-end", "17,800", "16,800", "17,900" ] ]

[ [ "( in millions )", "2010", "2009", "2008" ], [ "net sales", "$ 8246", "$ 8654", "$ 8027" ], [ "operating profit", "972", "972", "953" ], [ "operating margin", "11.8% ( 11.8 % )", "11.2% ( 11.2 % )", "11.9% ( 11.9 % )" ], [ "backlog at year-end", "17800", "16800", "17900" ] ]

[]

[ "the following details the impairment charge resulting from our review ( in thousands ) : ." ]

[ "net income attributable to noncontrolling interests , net of tax noncontrolling interest , net of tax increased $ 28.9 million from $ 8.1 million fiscal 2008 .", "the increase was primarily related to our acquisition of a 51% ( 51 % ) majority interest in hsbc merchant services , llp on june 30 , net income attributable to global payments and diluted earnings per share during fiscal 2009 we reported net income of $ 37.2 million ( $ 0.46 diluted earnings per share ) .", "liquidity and capital resources a significant portion of our liquidity comes from operating cash flows , which are generally sufficient to fund operations , planned capital expenditures , debt service and various strategic investments in our business .", "cash flow from operations is used to make planned capital investments in our business , to pursue acquisitions that meet our corporate objectives , to pay dividends , and to pay off debt and repurchase our shares at the discretion of our board of directors .", "accumulated cash balances are invested in high-quality and marketable short term instruments .", "our capital plan objectives are to support the company 2019s operational needs and strategic plan for long term growth while maintaining a low cost of capital .", "lines of credit are used in certain of our markets to fund settlement and as a source of working capital and , along with other bank financing , to fund acquisitions .", "we regularly evaluate our liquidity and capital position relative to cash requirements , and we may elect to raise additional funds in the future , either through the issuance of debt , equity or otherwise .", "at may 31 , 2010 , we had cash and cash equivalents totaling $ 769.9 million .", "of this amount , we consider $ 268.1 million to be available cash , which generally excludes settlement related and merchant reserve cash balances .", "settlement related cash balances represent surplus funds that we hold on behalf of our member sponsors when the incoming amount from the card networks precedes the member sponsors 2019 funding obligation to the merchant .", "merchant reserve cash balances represent funds collected from our merchants that serve as collateral ( 201cmerchant reserves 201d ) to minimize contingent liabilities associated with any losses that may occur under the merchant agreement .", "at may 31 , 2010 , our cash and cash equivalents included $ 199.4 million related to merchant reserves .", "while this cash is not restricted in its use , we believe that designating this cash to collateralize merchant reserves strengthens our fiduciary standing with our member sponsors and is in accordance with the guidelines set by the card networks .", "see cash and cash equivalents and settlement processing assets and obligations under note 1 in the notes to the consolidated financial statements for additional details .", "net cash provided by operating activities increased $ 82.8 million to $ 465.8 million for fiscal 2010 from the prior year .", "income from continuing operations increased $ 16.0 million and we had cash provided by changes in working capital of $ 60.2 million .", "the working capital change was primarily due to the change in net settlement processing assets and obligations of $ 80.3 million and the change in accounts receivable of $ 13.4 million , partially offset by the change ." ]

[ [ "", "Year Ended May 31, 2009" ], [ "Goodwill", "$136,800" ], [ "Trademark", "10,000" ], [ "Other long-lived assets", "864" ], [ "Total", "$147,664" ] ]

[ [ "", "year ended may 31 2009" ], [ "goodwill", "$ 136800" ], [ "trademark", "10000" ], [ "other long-lived assets", "864" ], [ "total", "$ 147664" ] ]

[ { "arg1": "465.8", "arg2": "82.8", "op": "minus2-1", "res": "383" }, { "arg1": "82.8", "arg2": "#0", "op": "divide2-2", "res": "21.6%" } ]

[ "cash and cash equivalents cash equivalents include highly-liquid investments with a maturity of three months or less when purchased .", "accounts receivable and allowance for doubtful accounts accounts receivable are carried at the invoiced amounts , less an allowance for doubtful accounts , and generally do not bear interest .", "the company estimates the balance of allowance for doubtful accounts by analyzing accounts receivable balances by age and applying historical write-off and collection trend rates .", "the company 2019s estimates include separately providing for customer receivables based on specific circumstances and credit conditions , and when it is deemed probable that the balance is uncollectible .", "account balances are written off against the allowance when it is determined the receivable will not be recovered .", "the company 2019s allowance for doubtful accounts balance also includes an allowance for the expected return of products shipped and credits related to pricing or quantities shipped of $ 15 million , $ 14 million and $ 15 million as of december 31 , 2017 , 2016 , and 2015 , respectively .", "returns and credit activity is recorded directly to sales as a reduction .", "the following table summarizes the activity in the allowance for doubtful accounts: ." ]

[ "( a ) other amounts are primarily the effects of changes in currency translations and the impact of allowance for returns and credits .", "inventory valuations inventories are valued at the lower of cost or net realizable value .", "certain u.s .", "inventory costs are determined on a last-in , first-out ( 201clifo 201d ) basis .", "lifo inventories represented 39% ( 39 % ) and 40% ( 40 % ) of consolidated inventories as of december 31 , 2017 and 2016 , respectively .", "all other inventory costs are determined using either the average cost or first-in , first-out ( 201cfifo 201d ) methods .", "inventory values at fifo , as shown in note 5 , approximate replacement cost .", "property , plant and equipment property , plant and equipment assets are stated at cost .", "merchandising and customer equipment consists principally of various dispensing systems for the company 2019s cleaning and sanitizing products , dishwashing machines and process control and monitoring equipment .", "certain dispensing systems capitalized by the company are accounted for on a mass asset basis , whereby equipment is capitalized and depreciated as a group and written off when fully depreciated .", "the company capitalizes both internal and external costs of development or purchase of computer software for internal use .", "costs incurred for data conversion , training and maintenance associated with capitalized software are expensed as incurred .", "expenditures for major renewals and improvements , which significantly extend the useful lives of existing plant and equipment , are capitalized and depreciated .", "expenditures for repairs and maintenance are charged to expense as incurred .", "upon retirement or disposition of plant and equipment , the cost and related accumulated depreciation are removed from the accounts and any resulting gain or loss is recognized in income .", "depreciation is charged to operations using the straight-line method over the assets 2019 estimated useful lives ranging from 5 to 40 years for buildings and leasehold improvements , 3 to 20 years for machinery and equipment , 3 to 15 years for merchandising and customer equipment and 3 to 7 years for capitalized software .", "the straight-line method of depreciation reflects an appropriate allocation of the cost of the assets to earnings in proportion to the amount of economic benefits obtained by the company in each reporting period .", "depreciation expense was $ 586 million , $ 561 million and $ 560 million for 2017 , 2016 and 2015 , respectively. ." ]

[ [ "(millions)", "2017", "2016", "2015" ], [ "Beginning balance", "$67.6", "$75.3", "$77.5" ], [ "Bad debt expense", "17.1", "20.1", "25.8" ], [ "Write-offs", "(15.7)", "(24.6)", "(21.9)" ], [ "Other (a)", "2.5", "(3.2)", "(6.1)" ], [ "Ending balance", "$71.5", "$67.6", "$75.3" ] ]

[ [ "( millions )", "2017", "2016", "2015" ], [ "beginning balance", "$ 67.6", "$ 75.3", "$ 77.5" ], [ "bad debt expense", "17.1", "20.1", "25.8" ], [ "write-offs", "-15.7 ( 15.7 )", "-24.6 ( 24.6 )", "-21.9 ( 21.9 )" ], [ "other ( a )", "2.5", "-3.2 ( 3.2 )", "-6.1 ( 6.1 )" ], [ "ending balance", "$ 71.5", "$ 67.6", "$ 75.3" ] ]

[ { "arg1": "71.5", "arg2": "67.6", "op": "minus2-1", "res": "3.9" }, { "arg1": "#0", "arg2": "67.6", "op": "divide2-2", "res": "5.8%" } ]

[ "table of contents totaled an absolute notional equivalent of $ 292.3 million and $ 190.5 million , respectively , with the year-over-year increase primarily driven by earnings growth .", "at this time , we do not hedge these long-term investment exposures .", "we do not use foreign exchange contracts for speculative trading purposes , nor do we hedge our foreign currency exposure in a manner that entirely offsets the effects of changes in foreign exchange rates .", "we regularly review our hedging program and assess the need to utilize financial instruments to hedge currency exposures on an ongoing basis .", "cash flow hedging 2014hedges of forecasted foreign currency revenue we may use foreign exchange purchased options or forward contracts to hedge foreign currency revenue denominated in euros , british pounds and japanese yen .", "we hedge these cash flow exposures to reduce the risk that our earnings and cash flows will be adversely affected by changes in exchange rates .", "these foreign exchange contracts , carried at fair value , may have maturities between one and twelve months .", "we enter into these foreign exchange contracts to hedge forecasted revenue in the normal course of business and accordingly , they are not speculative in nature .", "we record changes in the intrinsic value of these cash flow hedges in accumulated other comprehensive income ( loss ) until the forecasted transaction occurs .", "when the forecasted transaction occurs , we reclassify the related gain or loss on the cash flow hedge to revenue .", "in the event the underlying forecasted transaction does not occur , or it becomes probable that it will not occur , we reclassify the gain or loss on the related cash flow hedge from accumulated other comprehensive income ( loss ) to interest and other income , net on our consolidated statements of income at that time .", "for the fiscal year ended november 30 , 2018 , there were no net gains or losses recognized in other income relating to hedges of forecasted transactions that did not occur .", "balance sheet hedging 2014hedging of foreign currency assets and liabilities we hedge exposures related to our net recognized foreign currency assets and liabilities with foreign exchange forward contracts to reduce the risk that our earnings and cash flows will be adversely affected by changes in foreign currency exchange rates .", "these foreign exchange contracts are carried at fair value with changes in the fair value recorded as interest and other income , net .", "these foreign exchange contracts do not subject us to material balance sheet risk due to exchange rate movements because gains and losses on these contracts are intended to offset gains and losses on the assets and liabilities being hedged .", "at november 30 , 2018 , the outstanding balance sheet hedging derivatives had maturities of 180 days or less .", "see note 5 of our notes to consolidated financial statements for information regarding our hedging activities .", "interest rate risk short-term investments and fixed income securities at november 30 , 2018 , we had debt securities classified as short-term investments of $ 1.59 billion .", "changes in interest rates could adversely affect the market value of these investments .", "the following table separates these investments , based on stated maturities , to show the approximate exposure to interest rates ( in millions ) : ." ]

[ "a sensitivity analysis was performed on our investment portfolio as of november 30 , 2018 .", "the analysis is based on an estimate of the hypothetical changes in market value of the portfolio that would result from an immediate parallel shift in the yield curve of various magnitudes. ." ]

[ [ "Due within one year", "$612.1" ], [ "Due between one and two years", "564.2" ], [ "Due between two and three years", "282.2" ], [ "Due after three years", "127.7" ], [ "Total", "$1,586.2" ] ]

[ [ "due within one year", "$ 612.1" ], [ "due between one and two years", "564.2" ], [ "due between two and three years", "282.2" ], [ "due after three years", "127.7" ], [ "total", "$ 1586.2" ] ]

[ { "arg1": "612.1", "arg2": "564.2", "op": "add2-1", "res": "1176.3" }, { "arg1": "#0", "arg2": "1586.2", "op": "divide2-2", "res": "74.2%" } ]

[ "investment policy , which is described more fully in note 15 employee benefit plans in the notes to consolidated financial statements in item 8 of this report .", "we calculate the expense associated with the pension plan and the assumptions and methods that we use include a policy of reflecting trust assets at their fair market value .", "on an annual basis , we review the actuarial assumptions related to the pension plan , including the discount rate , the rate of compensation increase and the expected return on plan assets .", "the discount rate and compensation increase assumptions do not significantly affect pension expense .", "however , the expected long-term return on assets assumption does significantly affect pension expense .", "our expected long- term return on plan assets for determining net periodic pension expense has been 8.25% ( 8.25 % ) for the past three years .", "the expected return on plan assets is a long-term assumption established by considering historical and anticipated returns of the asset classes invested in by the pension plan and the allocation strategy currently in place among those classes .", "while this analysis gives appropriate consideration to recent asset performance and historical returns , the assumption represents a long-term prospective return .", "we review this assumption at each measurement date and adjust it if warranted .", "for purposes of setting and reviewing this assumption , 201clong- term 201d refers to the period over which the plan 2019s projected benefit obligation will be disbursed .", "while year-to-year annual returns can vary significantly ( rates of return for the reporting years of 2009 , 2008 , and 2007 were +20.61% ( +20.61 % ) , -32.91% ( -32.91 % ) , and +7.57% ( +7.57 % ) , respectively ) , the assumption represents our estimate of long-term average prospective returns .", "our selection process references certain historical data and the current environment , but primarily utilizes qualitative judgment regarding future return expectations .", "recent annual returns may differ but , recognizing the volatility and unpredictability of investment returns , we generally do not change the assumption unless we modify our investment strategy or identify events that would alter our expectations of future returns .", "to evaluate the continued reasonableness of our assumption , we examine a variety of viewpoints and data .", "various studies have shown that portfolios comprised primarily of us equity securities have returned approximately 10% ( 10 % ) over long periods of time , while us debt securities have returned approximately 6% ( 6 % ) annually over long periods .", "application of these historical returns to the plan 2019s allocation of equities and bonds produces a result between 8% ( 8 % ) and 8.5% ( 8.5 % ) and is one point of reference , among many other factors , that is taken into consideration .", "we also examine the plan 2019s actual historical returns over various periods .", "recent experience is considered in our evaluation with appropriate consideration that , especially for short time periods , recent returns are not reliable indicators of future returns , and in many cases low returns in recent time periods are followed by higher returns in future periods ( and vice versa ) .", "acknowledging the potentially wide range for this assumption , we also annually examine the assumption used by other companies with similar pension investment strategies , so that we can ascertain whether our determinations markedly differ from other observers .", "in all cases , however , this data simply informs our process , which places the greatest emphasis on our qualitative judgment of future investment returns , given the conditions existing at each annual measurement date .", "the expected long-term return on plan assets for determining net periodic pension cost for 2009 was 8.25% ( 8.25 % ) , unchanged from 2008 .", "during 2010 , we intend to decrease the midpoint of the plan 2019s target allocation range for equities by approximately five percentage points .", "as a result of this change and taking into account all other factors described above , pnc will change the expected long-term return on plan assets to 8.00% ( 8.00 % ) for determining net periodic pension cost for 2010 .", "under current accounting rules , the difference between expected long-term returns and actual returns is accumulated and amortized to pension expense over future periods .", "each one percentage point difference in actual return compared with our expected return causes expense in subsequent years to change by up to $ 8 million as the impact is amortized into results of operations .", "the table below reflects the estimated effects on pension expense of certain changes in annual assumptions , using 2010 estimated expense as a baseline .", "change in assumption ( a ) estimated increase to 2010 pension expense ( in millions ) ." ]

[ "( a ) the impact is the effect of changing the specified assumption while holding all other assumptions constant .", "we currently estimate a pretax pension expense of $ 41 million in 2010 compared with pretax expense of $ 117 million in 2009 .", "this year-over-year reduction was primarily due to the amortization impact of the favorable 2009 investment returns as compared with the expected long-term return assumption .", "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 expect that the minimum required contributions under the law will be zero for 2010 .", "we maintain other defined benefit plans that have a less significant effect on financial results , including various ." ]

[ [ "Change in Assumption(a)", "EstimatedIncrease to 2010PensionExpense(Inmillions)" ], [ ".5% decrease in discount rate", "$10" ], [ ".5% decrease in expected long-term return on assets", "$18" ], [ ".5% increase in compensation rate", "$3" ] ]

[ [ "change in assumption ( a )", "estimatedincrease to 2010pensionexpense ( inmillions )" ], [ ".5% ( .5 % ) decrease in discount rate", "$ 10" ], [ ".5% ( .5 % ) decrease in expected long-term return on assets", "$ 18" ], [ ".5% ( .5 % ) increase in compensation rate", "$ 3" ] ]

[]

[ "as of september 24 , 2011 , the total amount of gross unrecognized tax benefits was $ 1.4 billion , of which $ 563 million , if recognized , would affect the company 2019s effective tax rate .", "as of september 25 , 2010 , the total amount of gross unrecognized tax benefits was $ 943 million , of which $ 404 million , if recognized , would affect the company 2019s effective tax rate .", "the aggregate changes in the balance of gross unrecognized tax benefits , which excludes interest and penalties , for the three years ended september 24 , 2011 , is as follows ( in millions ) : ." ]

[ "the company includes interest and penalties related to unrecognized tax benefits within the provision for income taxes .", "as of september 24 , 2011 and september 25 , 2010 , the total amount of gross interest and penalties accrued was $ 261 million and $ 247 million , respectively , which is classified as non-current liabilities in the consolidated balance sheets .", "in connection with tax matters , the company recognized interest expense in 2011 and 2009 of $ 14 million and $ 64 million , respectively , and in 2010 the company recognized an interest benefit of $ 43 million .", "the company is subject to taxation and files income tax returns in the u.s .", "federal jurisdiction and in many state and foreign jurisdictions .", "for u.s .", "federal income tax purposes , all years prior to 2004 are closed .", "the internal revenue service ( the 201cirs 201d ) has completed its field audit of the company 2019s federal income tax returns for the years 2004 through 2006 and proposed certain adjustments .", "the company has contested certain of these adjustments through the irs appeals office .", "the irs is currently examining the years 2007 through 2009 .", "in addition , the company is also subject to audits by state , local and foreign tax authorities .", "in major states and major foreign jurisdictions , the years subsequent to 1988 and 2001 , respectively , generally remain open and could be subject to examination by the taxing authorities .", "management believes that an adequate provision has been made for any adjustments that may result from tax examinations .", "however , the outcome of tax audits cannot be predicted with certainty .", "if any issues addressed in the company 2019s tax audits are resolved in a manner not consistent with management 2019s expectations , the company could be required to adjust its provision for income tax in the period such resolution occurs .", "although timing of the resolution and/or closure of audits is not certain , the company does not believe it is reasonably possible that its unrecognized tax benefits would materially change in the next 12 months .", "note 6 2013 shareholders 2019 equity and share-based compensation preferred stock the company has five million shares of authorized preferred stock , none of which is issued or outstanding .", "under the terms of the company 2019s restated articles of incorporation , the board of directors is authorized to determine or alter the rights , preferences , privileges and restrictions of the company 2019s authorized but unissued shares of preferred stock .", "comprehensive income comprehensive income consists of two components , net income and other comprehensive income .", "other comprehensive income refers to revenue , expenses , gains and losses that under gaap are recorded as an element ." ]

[ [ "", "2011", "2010", "2009" ], [ "Beginning Balance", "$943", "971", "$506" ], [ "Increases related to tax positions taken during a prior year", "49", "61", "341" ], [ "Decreases related to tax positions taken during a prior year", "(39)", "(224)", "(24)" ], [ "Increases related to tax positions taken during the current year", "425", "240", "151" ], [ "Decreases related to settlements with taxing authorities", "0", "(102)", "0" ], [ "Decreases related to expiration of statute of limitations", "(3)", "(3)", "(3)" ], [ "Ending Balance", "$1,375", "$943", "$971" ] ]

[ [ "", "2011", "2010", "2009" ], [ "beginning balance", "$ 943", "971", "$ 506" ], [ "increases related to tax positions taken during a prior year", "49", "61", "341" ], [ "decreases related to tax positions taken during a prior year", "-39 ( 39 )", "-224 ( 224 )", "-24 ( 24 )" ], [ "increases related to tax positions taken during the current year", "425", "240", "151" ], [ "decreases related to settlements with taxing authorities", "0", "-102 ( 102 )", "0" ], [ "decreases related to expiration of statute of limitations", "-3 ( 3 )", "-3 ( 3 )", "-3 ( 3 )" ], [ "ending balance", "$ 1375", "$ 943", "$ 971" ] ]

[]

[ "visa indemnification our payment services business issues and acquires credit and debit card transactions through visa u.s.a .", "inc .", "card association or its affiliates ( visa ) .", "in october 2007 , visa completed a restructuring and issued shares of visa inc .", "common stock to its financial institution members ( visa reorganization ) in contemplation of its initial public offering ( ipo ) .", "as part of the visa reorganization , we received our proportionate share of class b visa inc .", "common stock allocated to the u.s .", "members .", "prior to the ipo , the u.s .", "members , which included pnc , were obligated to indemnify visa for judgments and settlements related to certain specified litigation .", "as a result of the acquisition of national city , we became party to judgment and loss sharing agreements with visa and certain other banks .", "the judgment and loss sharing agreements were designed to apportion financial responsibilities arising from any potential adverse judgment or negotiated settlements related to the specified litigation .", "in september 2014 , visa funded $ 450 million into its litigation escrow account and reduced the conversion rate of visa b to a shares .", "we continue to have an obligation to indemnify visa for judgments and settlements for the remaining specified litigation .", "recourse and repurchase obligations as discussed in note 2 loan sale and servicing activities and variable interest entities , pnc has sold commercial mortgage , residential mortgage and home equity loans/ lines of credit directly or indirectly through securitization and loan sale transactions in which we have continuing involvement .", "one form of continuing involvement includes certain recourse and loan repurchase obligations associated with the transferred assets .", "commercial mortgage loan recourse obligations we originate 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 , 2014 and december 31 , 2013 , the unpaid principal balance outstanding of loans sold as a participant in these programs was $ 12.3 billion and $ 11.7 billion , respectively .", "the potential maximum exposure under the loss share arrangements was $ 3.7 billion at december 31 , 2014 and $ 3.6 billion at december 31 , 2013 .", "we maintain a reserve for estimated losses based upon our exposure .", "the reserve for losses under these programs totaled $ 35 million and $ 33 million as of december 31 , 2014 and december 31 , 2013 , 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 .", "table 150 : analysis of commercial mortgage recourse obligations ." ]

[ "residential mortgage loan and home equity loan/ line of credit 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 .", "repurchase obligation activity associated with residential mortgages is reported in the residential mortgage banking segment .", "in the fourth quarter of 2013 , pnc reached agreements with both fnma and fhlmc to resolve their repurchase claims with respect to loans sold between 2000 and 2008 .", "pnc paid a total of $ 191 million related to these settlements .", "pnc 2019s repurchase obligations also include certain brokered home equity loans/lines of credit that were sold to a limited number of private investors in the financial services industry by national city prior to our acquisition of national city .", "pnc is no longer engaged in the brokered home equity lending business , and our exposure under these loan repurchase obligations is limited to repurchases of loans sold in these transactions .", "repurchase activity associated with brokered home equity loans/lines of credit is reported in the non-strategic assets portfolio segment .", "214 the pnc financial services group , inc .", "2013 form 10-k ." ]

[ [ "In millions", "2014", "2013" ], [ "January 1", "$33", "$43" ], [ "Reserve adjustments, net", "2", "(9)" ], [ "Losses – loan repurchases and settlements", "", "(1)" ], [ "December 31", "$35", "$33" ] ]

[ [ "in millions", "2014", "2013" ], [ "january 1", "$ 33", "$ 43" ], [ "reserve adjustments net", "2", "-9 ( 9 )" ], [ "losses 2013 loan repurchases and settlements", "", "-1 ( 1 )" ], [ "december 31", "$ 35", "$ 33" ] ]

[ { "arg1": "35", "arg2": "33", "op": "add2-1", "res": "68.0" }, { "arg1": "#0", "arg2": "const_2", "op": "divide0-0", "res": "34" } ]

[ "generate cash without additional external financings .", "free cash flow should be considered in addition to , rather than as a substitute for , cash provided by operating activities .", "the following table reconciles cash provided by operating activities ( gaap measure ) to free cash flow ( non-gaap measure ) : millions 2014 2013 2012 ." ]

[ "2015 outlook f0b7 safety 2013 operating a safe railroad benefits all our constituents : our employees , customers , shareholders and the communities we serve .", "we will continue using a multi-faceted approach to safety , utilizing technology , risk assessment , quality control , training and employee engagement , and targeted capital investments .", "we will continue using and expanding the deployment of total safety culture and courage to care throughout our operations , which allows us to identify and implement best practices for employee and operational safety .", "we will continue our efforts to increase detection of rail defects ; improve or close crossings ; and educate the public and law enforcement agencies about crossing safety through a combination of our own programs ( including risk assessment strategies ) , industry programs and local community activities across our network .", "f0b7 network operations 2013 in 2015 , we will continue to add resources to support growth , improve service , and replenish our surge capability .", "f0b7 fuel prices 2013 with the dramatic drop in fuel prices at the end of 2014 , there is even more uncertainty around the projections of fuel prices .", "we again could see volatile fuel prices during the year , as they are sensitive to global and u.s .", "domestic demand , refining capacity , geopolitical events , weather conditions and other factors .", "as prices fluctuate there will be a timing impact on earnings , as our fuel surcharge programs trail fluctuations in fuel price by approximately two months .", "lower fuel prices could have a positive impact on the economy by increasing consumer discretionary spending that potentially could increase demand for various consumer products that we transport .", "alternatively , lower fuel prices will likely have a negative impact on other commodities such as coal , frac sand and crude oil shipments .", "f0b7 capital plan 2013 in 2015 , we expect our capital plan to be approximately $ 4.3 billion , including expenditures for ptc and 218 locomotives .", "the capital plan may be revised if business conditions warrant or if new laws or regulations affect our ability to generate sufficient returns on these investments .", "( see further discussion in this item 7 under liquidity and capital resources 2013 capital plan. ) f0b7 financial expectations 2013 we expect the overall u.s .", "economy to continue to improve at a moderate pace .", "one of the biggest uncertainties is the outlook for energy markets , which will bring both challenges and opportunities .", "on balance , we expect to see positive volume growth for 2015 versus the prior year .", "in the current environment , we expect continued margin improvement driven by continued pricing opportunities , ongoing productivity initiatives and the ability to leverage our resources as we improve the fluidity of our network. ." ]

[ [ "<i>Millions</i>", "<i>2014</i>", "<i>2013</i>", "<i>2012</i>" ], [ "Cash provided by operating activities", "$7,385", "$6,823", "$6,161" ], [ "Cash used in investing activities", "(4,249)", "(3,405)", "(3,633)" ], [ "Dividends paid", "(1,632)", "(1,333)", "(1,146)" ], [ "Free cash flow", "$1,504", "$2,085", "$1,382" ] ]

[ [ "millions", "2014", "2013", "2012" ], [ "cash provided by operating activities", "$ 7385", "$ 6823", "$ 6161" ], [ "cash used in investing activities", "-4249 ( 4249 )", "-3405 ( 3405 )", "-3633 ( 3633 )" ], [ "dividends paid", "-1632 ( 1632 )", "-1333 ( 1333 )", "-1146 ( 1146 )" ], [ "free cash flow", "$ 1504", "$ 2085", "$ 1382" ] ]

[ { "arg1": "2085", "arg2": "1382", "op": "minus1-1", "res": "703" }, { "arg1": "#0", "arg2": "1382", "op": "divide1-2", "res": "51%" } ]

[ "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)" ], [ "Other", "3.3" ], [ "2007 net revenue", "$231.0" ] ]

[ [ "", "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" ] ]

[ { "arg1": "132000", "arg2": "95000", "op": "minus2-1", "res": "37000" }, { "arg1": "#0", "arg2": "95000", "op": "divide2-2", "res": "38.9%" } ]

[ "notes to the consolidated financial statements on march 18 , 2008 , ppg completed a public offering of $ 600 million in aggregate principal amount of its 5.75% ( 5.75 % ) notes due 2013 ( the 201c2013 notes 201d ) , $ 700 million in aggregate principal amount of its 6.65% ( 6.65 % ) notes due 2018 ( the 201c2018 notes 201d ) and $ 250 million in aggregate principal amount of its 7.70% ( 7.70 % ) notes due 2038 ( the 201c2038 notes 201d and , together with the 2013 notes and the 2018 notes , the 201cnotes 201d ) .", "the notes were offered by the company pursuant to its existing shelf registration .", "the proceeds of this offering of $ 1538 million ( net of discount and issuance costs ) and additional borrowings of $ 195 million under the 20ac650 million revolving credit facility were used to repay existing debt , including certain short-term debt and the amounts outstanding under the 20ac1 billion bridge loan .", "no further amounts can be borrowed under the 20ac1 billion bridge loan .", "the discount and issuance costs related to the notes , which totaled $ 12 million , will be amortized to interest expense over the respective lives of the notes .", "short-term debt outstanding as of december 31 , 2008 and 2007 , was as follows : ( millions ) 2008 2007 ." ]

[ "total $ 784 $ 1818 ( 1 ) borrowings under this facility have a term of 30 days and can be rolled over monthly until the facility expires in 2010 .", "ppg is in compliance with the restrictive covenants under its various credit agreements , loan agreements and indentures .", "the company 2019s revolving credit agreements include a financial ratio covenant .", "the covenant requires that the amount of total indebtedness not exceed 60% ( 60 % ) of the company 2019s total capitalization excluding the portion of accumulated other comprehensive income ( loss ) related to pensions and other postretirement benefit adjustments .", "as of december 31 , 2008 , total indebtedness was 45% ( 45 % ) of the company 2019s total capitalization excluding the portion of accumulated other comprehensive income ( loss ) related to pensions and other postretirement benefit adjustments .", "additionally , substantially all of the company 2019s debt agreements contain customary cross- default provisions .", "those provisions generally provide that a default on a debt service payment of $ 10 million or more for longer than the grace period provided ( usually 10 days ) under one agreement may result in an event of default under other agreements .", "none of the company 2019s primary debt obligations are secured or guaranteed by the company 2019s affiliates .", "interest payments in 2008 , 2007 and 2006 totaled $ 228 million , $ 102 million and $ 90 million , respectively .", "rental expense for operating leases was $ 267 million , $ 188 million and $ 161 million in 2008 , 2007 and 2006 , respectively .", "the primary leased assets include paint stores , transportation equipment , warehouses and other distribution facilities , and office space , including the company 2019s corporate headquarters located in pittsburgh , pa .", "minimum lease commitments for operating leases that have initial or remaining lease terms in excess of one year as of december 31 , 2008 , are ( in millions ) $ 126 in 2009 , $ 107 in 2010 , $ 82 in 2011 , $ 65 in 2012 , $ 51 in 2013 and $ 202 thereafter .", "the company had outstanding letters of credit of $ 82 million as of december 31 , 2008 .", "the letters of credit secure the company 2019s performance to third parties under certain self-insurance programs and other commitments made in the ordinary course of business .", "as of december 31 , 2008 and 2007 guarantees outstanding were $ 70 million .", "the guarantees relate primarily to debt of certain entities in which ppg has an ownership interest and selected customers of certain of the company 2019s businesses .", "a portion of such debt is secured by the assets of the related entities .", "the carrying values of these guarantees were $ 9 million and $ 3 million as of december 31 , 2008 and 2007 , respectively , and the fair values were $ 40 million and $ 17 million , as of december 31 , 2008 and 2007 , respectively .", "the company does not believe any loss related to these letters of credit or guarantees is likely .", "10 .", "financial instruments , excluding derivative financial instruments included in ppg 2019s financial instrument portfolio are cash and cash equivalents , cash held in escrow , marketable equity securities , company-owned life insurance and short- and long-term debt instruments .", "the fair values of the financial instruments approximated their carrying values , in the aggregate , except for long-term long-term debt ( excluding capital lease obligations ) , had carrying and fair values totaling $ 3122 million and $ 3035 million , respectively , as of december 31 , 2008 .", "the corresponding amounts as of december 31 , 2007 , were $ 1201 million and $ 1226 million , respectively .", "the fair values of the debt instruments were based on discounted cash flows and interest rates currently available to the company for instruments of the same remaining maturities .", "2008 ppg annual report and form 10-k 45 ." ]

[ [ "<i>(Millions)</i>", "2008", "2007" ], [ "€1 billion bridge loan agreement, 5.2%", "$—", "$1,047" ], [ "U.S. commercial paper, 5.3% as of Dec. 31, 2008", "222", "617" ], [ "€650 million revolving credit facility, weighted average 2.9% as of Dec. 31, 2008⁽¹⁾", "200", "—" ], [ "Other, weighted average 4.0% as of Dec. 31, 2008", "362", "154" ], [ "<i></i> <i>Total</i>", "$784", "$1,818" ] ]

[ [ "( millions )", "2008", "2007" ], [ "20ac1 billion bridge loan agreement 5.2% ( 5.2 % )", "$ 2014", "$ 1047" ], [ "u.s . commercial paper 5.3% ( 5.3 % ) as of dec . 31 2008", "222", "617" ], [ "20ac650 million revolving credit facility weighted average 2.9% ( 2.9 % ) as of dec . 31 2008 ( 1 )", "200", "2014" ], [ "other weighted average 4.0% ( 4.0 % ) as of dec . 31 2008", "362", "154" ], [ "total", "$ 784", "$ 1818" ] ]

[ { "arg1": "267", "arg2": "188", "op": "divide1-1", "res": "142%" }, { "arg1": "#0", "arg2": "267", "op": "multiply1-2", "res": "379" } ]

[ "notes to the consolidated financial statements the credit agreement provides that loans will bear interest at rates based , at the company 2019s option , on one of two specified base rates plus a margin based on certain formulas defined in the credit agreement .", "additionally , the credit agreement contains a commitment fee on the amount of unused commitment under the credit agreement ranging from 0.125% ( 0.125 % ) to 0.625% ( 0.625 % ) per annum .", "the applicable interest rate and the commitment fee will vary depending on the ratings established by standard & poor 2019s financial services llc and moody 2019s investor service inc .", "for the company 2019s non-credit enhanced , long- term , senior , unsecured debt .", "the credit agreement contains usual and customary restrictive covenants for facilities of its type , which include , with specified exceptions , limitations on the company 2019s ability to create liens or other encumbrances , to enter into sale and leaseback transactions and to enter into consolidations , mergers or transfers of all or substantially all of its assets .", "the credit agreement also requires the company to maintain a ratio of total indebtedness to total capitalization , as defined in the credit agreement , of sixty percent or less .", "the credit agreement contains customary events of default that would permit the lenders to accelerate the repayment of any loans , including the failure to make timely payments when due under the credit agreement or other material indebtedness , the failure to satisfy covenants contained in the credit agreement , a change in control of the company and specified events of bankruptcy and insolvency .", "there were no amounts outstanding under the credit agreement at december 31 , on november 12 , 2010 , ppg completed a public offering of $ 250 million in aggregate principal amount of its 1.900% ( 1.900 % ) notes due 2016 ( the 201c2016 notes 201d ) , $ 500 million in aggregate principal amount of its 3.600% ( 3.600 % ) notes due 2020 ( the 201c2020 notes 201d ) and $ 250 million in aggregate principal amount of its 5.500% ( 5.500 % ) notes due 2040 ( the 201c2040 notes 201d ) .", "these notes were issued pursuant to an indenture dated as of march 18 , 2008 ( the 201coriginal indenture 201d ) between the company and the bank of new york mellon trust company , n.a. , as trustee ( the 201ctrustee 201d ) , as supplemented by a first supplemental indenture dated as of march 18 , 2008 between the company and the trustee ( the 201cfirst supplemental indenture 201d ) and a second supplemental indenture dated as of november 12 , 2010 between the company and the trustee ( the 201csecond supplemental indenture 201d and , together with the original indenture and the first supplemental indenture , the 201cindenture 201d ) .", "the company may issue additional debt from time to time pursuant to the original indenture .", "the indenture governing these notes contains covenants that limit the company 2019s ability to , among other things , incur certain liens securing indebtedness , engage in certain sale-leaseback transactions , and enter into certain consolidations , mergers , conveyances , transfers or leases of all or substantially all the company 2019s assets .", "the terms of these notes also require the company to make an offer to repurchase notes upon a change of control triggering event ( as defined in the second supplemental indenture ) at a price equal to 101% ( 101 % ) of their principal amount plus accrued and unpaid interest .", "cash proceeds from this notes offering was $ 983 million ( net of discount and issuance costs ) .", "the discount and issuance costs related to these notes , which totaled $ 17 million , will be amortized to interest expense over the respective terms of the notes .", "ppg 2019s non-u.s .", "operations have uncommitted lines of credit totaling $ 791 million of which $ 31 million was used as of december 31 , 2010 .", "these uncommitted lines of credit are subject to cancellation at any time and are generally not subject to any commitment fees .", "short-term debt outstanding as of december 31 , 2010 and 2009 , was as follows : ( millions ) 2010 2009 20ac650 million revolving credit facility , 0.8% ( 0.8 % ) as of dec .", "31 , 2009 $ 2014 $ 110 other , weighted average 3.39% ( 3.39 % ) as of dec .", "31 , 2010 and 2.2% ( 2.2 % ) as of december 31 , 2009 24 158 total $ 24 $ 268 ppg is in compliance with the restrictive covenants under its various credit agreements , loan agreements and indentures .", "the company 2019s revolving credit agreements include a financial ratio covenant .", "the covenant requires that the amount of total indebtedness not exceed 60% ( 60 % ) of the company 2019s total capitalization excluding the portion of accumulated other comprehensive income ( loss ) related to pensions and other postretirement benefit adjustments .", "as of december 31 , 2010 , total indebtedness was 45% ( 45 % ) of the company 2019s total capitalization excluding the portion of accumulated other comprehensive income ( loss ) related to pensions and other postretirement benefit adjustments .", "additionally , substantially all of the company 2019s debt agreements contain customary cross- default provisions .", "those provisions generally provide that a default on a debt service payment of $ 10 million or more for longer than the grace period provided ( usually 10 days ) under one agreement may result in an event of default under other agreements .", "none of the company 2019s primary debt obligations are secured or guaranteed by the company 2019s affiliates .", "interest payments in 2010 , 2009 and 2008 totaled $ 189 million , $ 201 million and $ 228 million , respectively .", "2010 ppg annual report and form 10-k 43 ." ]

[ "notes to the consolidated financial statements the credit agreement provides that loans will bear interest at rates based , at the company 2019s option , on one of two specified base rates plus a margin based on certain formulas defined in the credit agreement .", "additionally , the credit agreement contains a commitment fee on the amount of unused commitment under the credit agreement ranging from 0.125% ( 0.125 % ) to 0.625% ( 0.625 % ) per annum .", "the applicable interest rate and the commitment fee will vary depending on the ratings established by standard & poor 2019s financial services llc and moody 2019s investor service inc .", "for the company 2019s non-credit enhanced , long- term , senior , unsecured debt .", "the credit agreement contains usual and customary restrictive covenants for facilities of its type , which include , with specified exceptions , limitations on the company 2019s ability to create liens or other encumbrances , to enter into sale and leaseback transactions and to enter into consolidations , mergers or transfers of all or substantially all of its assets .", "the credit agreement also requires the company to maintain a ratio of total indebtedness to total capitalization , as defined in the credit agreement , of sixty percent or less .", "the credit agreement contains customary events of default that would permit the lenders to accelerate the repayment of any loans , including the failure to make timely payments when due under the credit agreement or other material indebtedness , the failure to satisfy covenants contained in the credit agreement , a change in control of the company and specified events of bankruptcy and insolvency .", "there were no amounts outstanding under the credit agreement at december 31 , on november 12 , 2010 , ppg completed a public offering of $ 250 million in aggregate principal amount of its 1.900% ( 1.900 % ) notes due 2016 ( the 201c2016 notes 201d ) , $ 500 million in aggregate principal amount of its 3.600% ( 3.600 % ) notes due 2020 ( the 201c2020 notes 201d ) and $ 250 million in aggregate principal amount of its 5.500% ( 5.500 % ) notes due 2040 ( the 201c2040 notes 201d ) .", "these notes were issued pursuant to an indenture dated as of march 18 , 2008 ( the 201coriginal indenture 201d ) between the company and the bank of new york mellon trust company , n.a. , as trustee ( the 201ctrustee 201d ) , as supplemented by a first supplemental indenture dated as of march 18 , 2008 between the company and the trustee ( the 201cfirst supplemental indenture 201d ) and a second supplemental indenture dated as of november 12 , 2010 between the company and the trustee ( the 201csecond supplemental indenture 201d and , together with the original indenture and the first supplemental indenture , the 201cindenture 201d ) .", "the company may issue additional debt from time to time pursuant to the original indenture .", "the indenture governing these notes contains covenants that limit the company 2019s ability to , among other things , incur certain liens securing indebtedness , engage in certain sale-leaseback transactions , and enter into certain consolidations , mergers , conveyances , transfers or leases of all or substantially all the company 2019s assets .", "the terms of these notes also require the company to make an offer to repurchase notes upon a change of control triggering event ( as defined in the second supplemental indenture ) at a price equal to 101% ( 101 % ) of their principal amount plus accrued and unpaid interest .", "cash proceeds from this notes offering was $ 983 million ( net of discount and issuance costs ) .", "the discount and issuance costs related to these notes , which totaled $ 17 million , will be amortized to interest expense over the respective terms of the notes .", "ppg 2019s non-u.s .", "operations have uncommitted lines of credit totaling $ 791 million of which $ 31 million was used as of december 31 , 2010 .", "these uncommitted lines of credit are subject to cancellation at any time and are generally not subject to any commitment fees .", "short-term debt outstanding as of december 31 , 2010 and 2009 , was as follows : ( millions ) 2010 2009 20ac650 million revolving credit facility , 0.8% ( 0.8 % ) as of dec .", "31 , 2009 $ 2014 $ 110 other , weighted average 3.39% ( 3.39 % ) as of dec .", "31 , 2010 and 2.2% ( 2.2 % ) as of december 31 , 2009 24 158 total $ 24 $ 268 ppg is in compliance with the restrictive covenants under its various credit agreements , loan agreements and indentures .", "the company 2019s revolving credit agreements include a financial ratio covenant .", "the covenant requires that the amount of total indebtedness not exceed 60% ( 60 % ) of the company 2019s total capitalization excluding the portion of accumulated other comprehensive income ( loss ) related to pensions and other postretirement benefit adjustments .", "as of december 31 , 2010 , total indebtedness was 45% ( 45 % ) of the company 2019s total capitalization excluding the portion of accumulated other comprehensive income ( loss ) related to pensions and other postretirement benefit adjustments .", "additionally , substantially all of the company 2019s debt agreements contain customary cross- default provisions .", "those provisions generally provide that a default on a debt service payment of $ 10 million or more for longer than the grace period provided ( usually 10 days ) under one agreement may result in an event of default under other agreements .", "none of the company 2019s primary debt obligations are secured or guaranteed by the company 2019s affiliates .", "interest payments in 2010 , 2009 and 2008 totaled $ 189 million , $ 201 million and $ 228 million , respectively .", "2010 ppg annual report and form 10-k 43 ." ]

[ [ "<i>(Millions)</i>", "2010", "2009" ], [ "€650 million revolving credit facility, 0.8% as of Dec. 31, 2009", "$—", "$110" ], [ "Other, weighted average 3.39% as of Dec. 31, 2010 and 2.2% as of December 31, 2009", "24", "158" ], [ "<i></i> <i>Total</i>", "$24", "$268" ] ]

[ [ "( millions )", "2010", "2009" ], [ "20ac650 million revolving credit facility 0.8% ( 0.8 % ) as of dec . 31 2009", "$ 2014", "$ 110" ], [ "other weighted average 3.39% ( 3.39 % ) as of dec . 31 2010 and 2.2% ( 2.2 % ) as of december 31 2009", "24", "158" ], [ "total", "$ 24", "$ 268" ] ]

[ { "arg1": "189", "arg2": "201", "op": "divide2-1", "res": "94%" }, { "arg1": "189", "arg2": "#0", "op": "multiply2-2", "res": "177.7" } ]

[ "meet customer needs and put us in a position to handle demand changes .", "we will also continue utilizing industrial engineering techniques to improve productivity .", "2022 fuel prices 2013 uncertainty about the economy makes fuel price projections difficult , and we could see volatile fuel prices during the year , as they are sensitive to global and u.s .", "domestic demand , refining capacity , geopolitical issues and events , weather conditions and other factors .", "to reduce the impact of fuel price on earnings , we will continue to seek recovery from our customers through our fuel surcharge programs and to expand our fuel conservation efforts .", "2022 capital plan 2013 in 2010 , we plan to make total capital investments of approximately $ 2.5 billion , including expenditures for ptc , which may be revised if business conditions or new laws or regulations affect our ability to generate sufficient returns on these investments .", "see further discussion in this item 7 under liquidity and capital resources 2013 capital plan .", "2022 positive train control ( ptc ) 2013 in response to a legislative mandate to implement ptc by the end of 2015 , we expect to spend approximately $ 200 million during 2010 on the development of ptc .", "we currently estimate that ptc will cost us approximately $ 1.4 billion to implement by the end of 2015 , in accordance with rules issued by the fra .", "this includes costs for installing the new system along our tracks , upgrading locomotives to work with the new system , and adding digital data communication equipment so all the parts of the system can communicate with each other .", "2022 financial expectations 2013 we remain cautious about economic conditions but expect volume to increase from 2009 levels .", "in addition , we anticipate continued pricing opportunities and further productivity improvements .", "results of operations operating revenues millions of dollars 2009 2008 2007 % ( % ) change 2009 v 2008 % ( % ) change 2008 v 2007 ." ]

[ "freight revenues are revenues generated by transporting freight or other materials from our six commodity groups .", "freight revenues vary with volume ( carloads ) and average revenue per car ( arc ) .", "changes in price , traffic mix and fuel surcharges drive arc .", "we provide some of our customers with contractual incentives for meeting or exceeding specified cumulative volumes or shipping to and from specific locations , which we record as a reduction to freight revenues based on the actual or projected future shipments .", "we recognize freight revenues on a percentage-of-completion basis as freight moves from origin to destination .", "we allocate freight revenues between reporting periods based on the relative transit time in each reporting period and recognize expenses as we incur them .", "other revenues include revenues earned by our subsidiaries , revenues from our commuter rail operations , and accessorial revenues , which we earn when customers retain equipment owned or controlled by us or when we perform additional services such as switching or storage .", "we recognize other revenues as we perform services or meet contractual obligations .", "freight revenues and volume levels for all six commodity groups decreased during 2009 , reflecting continued economic weakness .", "we experienced the largest volume declines in automotive and industrial ." ]

[ [ "<i>Millions of Dollars</i>", "<i>2009</i>", "<i>2008</i>", "<i>2007</i>", "<i>% Change 2009 v 2008</i>", "<i>% Change 2008 v 2007</i>" ], [ "Freight revenues", "$13,373", "$17,118", "$15,486", "(22)%", "11%" ], [ "Other revenues", "770", "852", "797", "(10)", "7" ], [ "Total", "$14,143", "$17,970", "$16,283", "(21)%", "10%" ] ]

[ [ "millions of dollars", "2009", "2008", "2007", "% ( % ) change 2009 v 2008", "% ( % ) change 2008 v 2007" ], [ "freight revenues", "$ 13373", "$ 17118", "$ 15486", "( 22 ) % ( % )", "11% ( 11 % )" ], [ "other revenues", "770", "852", "797", "-10 ( 10 )", "7" ], [ "total", "$ 14143", "$ 17970", "$ 16283", "( 21 ) % ( % )", "10% ( 10 % )" ] ]

[]

[ "application of specific accounting literature .", "for the nonconsolidated proprietary tob trusts and qspe tob trusts , the company recognizes only its residual investment on its balance sheet at fair value and the third-party financing raised by the trusts is off-balance sheet .", "the following table summarizes selected cash flow information related to municipal bond securitizations for the years 2008 , 2007 and 2006 : in billions of dollars 2008 2007 2006 ." ]

[ "cash flows received on retained interests and other net cash flows 0.5 2014 2014 municipal investments municipal investment transactions represent partnerships that finance the construction and rehabilitation of low-income affordable rental housing .", "the company generally invests in these partnerships as a limited partner and earns a return primarily through the receipt of tax credits earned from the affordable housing investments made by the partnership .", "client intermediation client intermediation transactions represent a range of transactions designed to provide investors with specified returns based on the returns of an underlying security , referenced asset or index .", "these transactions include credit-linked notes and equity-linked notes .", "in these transactions , the spe typically obtains exposure to the underlying security , referenced asset or index through a derivative instrument , such as a total-return swap or a credit-default swap .", "in turn the spe issues notes to investors that pay a return based on the specified underlying security , referenced asset or index .", "the spe invests the proceeds in a financial asset or a guaranteed insurance contract ( gic ) that serves as collateral for the derivative contract over the term of the transaction .", "the company 2019s involvement in these transactions includes being the counterparty to the spe 2019s derivative instruments and investing in a portion of the notes issued by the spe .", "in certain transactions , the investor 2019s maximum risk of loss is limited and the company absorbs risk of loss above a specified level .", "the company 2019s maximum risk of loss in these transactions is defined as the amount invested in notes issued by the spe and the notional amount of any risk of loss absorbed by the company through a separate instrument issued by the spe .", "the derivative instrument held by the company may generate a receivable from the spe ( for example , where the company purchases credit protection from the spe in connection with the spe 2019s issuance of a credit-linked note ) , which is collateralized by the assets owned by the spe .", "these derivative instruments are not considered variable interests under fin 46 ( r ) and any associated receivables are not included in the calculation of maximum exposure to the spe .", "structured investment vehicles structured investment vehicles ( sivs ) are spes that issue junior notes and senior debt ( medium-term notes and short-term commercial paper ) to fund the purchase of high quality assets .", "the junior notes are subject to the 201cfirst loss 201d risk of the sivs .", "the sivs provide a variable return to the junior note investors based on the net spread between the cost to issue the senior debt and the return realized by the high quality assets .", "the company acts as manager for the sivs and , prior to december 13 , 2007 , was not contractually obligated to provide liquidity facilities or guarantees to the sivs .", "in response to the ratings review of the outstanding senior debt of the sivs for a possible downgrade announced by two ratings agencies and the continued reduction of liquidity in the siv-related asset-backed commercial paper and medium-term note markets , on december 13 , 2007 , citigroup announced its commitment to provide support facilities that would support the sivs 2019 senior debt ratings .", "as a result of this commitment , citigroup became the sivs 2019 primary beneficiary and began consolidating these entities .", "on february 12 , 2008 , citigroup finalized the terms of the support facilities , which took the form of a commitment to provide $ 3.5 billion of mezzanine capital to the sivs in the event the market value of their junior notes approaches zero .", "the mezzanine capital facility was increased by $ 1 billion to $ 4.5 billion , with the additional commitment funded during the fourth quarter of 2008 .", "the facilities rank senior to the junior notes but junior to the commercial paper and medium-term notes .", "the facilities were at arm 2019s-length terms .", "interest was paid on the drawn amount of the facilities and a per annum fee was paid on the unused portion .", "during the period to november 18 , 2008 , the company wrote down $ 3.3 billion on siv assets .", "in order to complete the wind-down of the sivs , the company , in a nearly cashless transaction , purchased the remaining assets of the sivs at fair value , with a trade date of november 18 , 2008 .", "the company funded the purchase of the siv assets by assuming the obligation to pay amounts due under the medium-term notes issued by the sivs , as the medium-term notes mature .", "the net funding provided by the company to fund the purchase of the siv assets was $ 0.3 billion .", "as of december 31 , 2008 , the carrying amount of the purchased siv assets was $ 16.6 billion , of which $ 16.5 billion is classified as htm assets .", "investment funds the company is the investment manager for certain investment funds that invest in various asset classes including private equity , hedge funds , real estate , fixed income and infrastructure .", "the company earns a management fee , which is a percentage of capital under management , and may earn performance fees .", "in addition , for some of these funds the company has an ownership interest in the investment funds .", "the company has also established a number of investment funds as opportunities for qualified employees to invest in private equity investments .", "the company acts as investment manager to these funds and may provide employees with financing on both a recourse and non-recourse basis for a portion of the employees 2019 investment commitments. ." ]

[ [ "<i>In billions of dollars</i>", "2008", "2007", "2006" ], [ "Proceeds from new securitizations", "$1.2", "$10.5", "—" ], [ "Cash flows received on retained interests and other net cash flows", "0.5", "—", "—" ] ]

[ [ "in billions of dollars", "2008", "2007", "2006" ], [ "proceeds from new securitizations", "$ 1.2", "$ 10.5", "2014" ], [ "cash flows received on retained interests and other net cash flows", "0.5", "2014", "2014" ] ]

[]

[ "valuation techniques 2013 cash equivalents are mostly comprised of short-term money-market instruments and are valued at cost , which approximates fair value .", "u.s .", "equity securities and international equity securities categorized as level 1 are traded on active national and international exchanges and are valued at their closing prices on the last trading day of the year .", "for u.s .", "equity securities and international equity securities not traded on an active exchange , or if the closing price is not available , the trustee obtains indicative quotes from a pricing vendor , broker , or investment manager .", "these securities are categorized as level 2 if the custodian obtains corroborated quotes from a pricing vendor or categorized as level 3 if the custodian obtains uncorroborated quotes from a broker or investment manager .", "commingled equity funds are public investment vehicles valued using the net asset value ( nav ) provided by the fund manager .", "the nav is the total value of the fund divided by the number of shares outstanding .", "commingled equity funds are categorized as level 1 if traded at their nav on a nationally recognized securities exchange or categorized as level 2 if the nav is corroborated by observable market data ( e.g. , purchases or sales activity ) .", "fixed income securities categorized as level 2 are valued by the trustee using pricing models that use verifiable observable market data ( e.g .", "interest rates and yield curves observable at commonly quoted intervals ) , bids provided by brokers or dealers , or quoted prices of securities with similar characteristics .", "private equity funds , real estate funds , hedge funds , and fixed income securities categorized as level 3 are valued based on valuation models that include significant unobservable inputs and cannot be corroborated using verifiable observable market data .", "valuations for private equity funds and real estate funds are determined by the general partners , while hedge funds are valued by independent administrators .", "depending on the nature of the assets , the general partners or independent administrators use both the income and market approaches in their models .", "the market approach consists of analyzing market transactions for comparable assets while the income approach uses earnings or the net present value of estimated future cash flows adjusted for liquidity and other risk factors .", "commodities categorized as level 1 are traded on an active commodity exchange and are valued at their closing prices on the last trading day of the year .", "commodities categorized as level 2 represent shares in a commingled commodity fund valued using the nav , which is corroborated by observable market data .", "contributions and expected benefit payments we generally determine funding requirements for our defined benefit pension plans in a manner consistent with cas and internal revenue code rules .", "in 2012 , we made contributions of $ 3.6 billion related to our qualified defined benefit pension plans .", "we plan to make contributions of approximately $ 1.5 billion related to the qualified defined benefit pension plans in 2013 .", "in 2012 , we made contributions of $ 235 million related to our retiree medical and life insurance plans .", "we expect no required contributions related to the retiree medical and life insurance plans in 2013 .", "the following table presents estimated future benefit payments , which reflect expected future employee service , as of december 31 , 2012 ( in millions ) : ." ]

[ "defined contribution plans we maintain a number of defined contribution plans , most with 401 ( k ) features , that cover substantially all of our employees .", "under the provisions of our 401 ( k ) plans , we match most employees 2019 eligible contributions at rates specified in the plan documents .", "our contributions were $ 380 million in 2012 , $ 378 million in 2011 , and $ 379 million in 2010 , the majority of which were funded in our common stock .", "our defined contribution plans held approximately 48.6 million and 52.1 million shares of our common stock as of december 31 , 2012 and 2011. ." ]

[ [ "", "2013", "2014", "2015", "2016", "2017", "2018 - 2022" ], [ "Qualified defined benefit pension plans", "$1,900", "$1,970", "$2,050", "$2,130", "$2,220", "$12,880" ], [ "Retiree medical and life insurance plans", "200", "210", "220", "220", "220", "1,080" ] ]

[ [ "", "2013", "2014", "2015", "2016", "2017", "2018 - 2022" ], [ "qualified defined benefit pension plans", "$ 1900", "$ 1970", "$ 2050", "$ 2130", "$ 2220", "$ 12880" ], [ "retiree medical and life insurance plans", "200", "210", "220", "220", "220", "1080" ] ]

[ { "arg1": "48.6", "arg2": "52.1", "op": "minus2-1", "res": "-3.5" }, { "arg1": "#0", "arg2": "52.1", "op": "divide2-2", "res": "-6.7%" } ]

[ "notes to consolidated financial statements jpmorgan chase & co./2009 annual report 168 nonrecurring fair value changes the following table presents the total change in value of financial instruments for which a fair value adjustment has been included in the consolidated statements of income for the years ended december 31 , 2009 , 2008 and 2007 , related to financial instru- ments held at these dates .", "year ended december 31 ." ]

[ "accounts payable and other liabilities 31 ( 285 ) 2 total nonrecurring fair value gains/ ( losses ) $ ( 4012 ) $ ( 4857 ) $ ( 879 ) in the above table , loans predominantly include : ( 1 ) write-downs of delinquent mortgage and home equity loans where impairment is based on the fair value of the underlying collateral ; and ( 2 ) the change in fair value for leveraged lending loans carried on the consolidated balance sheets at the lower of cost or fair value .", "accounts payable and other liabilities predominantly include the change in fair value for unfunded lending-related commitments within the leveraged lending portfolio .", "level 3 analysis level 3 assets ( including assets measured at fair value on a nonre- curring basis ) were 6% ( 6 % ) of total firm assets at both december 31 , 2009 and 2008 .", "level 3 assets were $ 130.4 billion at december 31 , 2009 , reflecting a decrease of $ 7.3 billion in 2009 , due to the following : 2022 a net decrease of $ 6.3 billion in gross derivative receivables , predominantly driven by the tightening of credit spreads .", "offset- ting a portion of the decrease were net transfers into level 3 dur- ing the year , most notably a transfer into level 3 of $ 41.3 billion of structured credit derivative receivables , and a transfer out of level 3 of $ 17.7 billion of single-name cds on abs .", "the fair value of the receivables transferred into level 3 during the year was $ 22.1 billion at december 31 , 2009 .", "the fair value of struc- tured credit derivative payables with a similar underlying risk profile to the previously noted receivables , that are also classified in level 3 , was $ 12.5 billion at december 31 , 2009 .", "these de- rivatives payables offset the receivables , as they are modeled and valued the same way with the same parameters and inputs as the assets .", "2022 a net decrease of $ 3.5 billion in loans , predominantly driven by sales of leveraged loans and transfers of similar loans to level 2 , due to increased price transparency for such assets .", "leveraged loans are typically classified as held-for-sale and measured at the lower of cost or fair value and , therefore , included in the nonre- curring fair value assets .", "2022 a net decrease of $ 6.3 billion in trading assets 2013 debt and equity instruments , primarily in loans and residential- and commercial- mbs , principally driven by sales and markdowns , and by sales and unwinds of structured transactions with hedge funds .", "the declines were partially offset by a transfer from level 2 to level 3 of certain structured notes reflecting lower liquidity and less pricing ob- servability , and also increases in the fair value of other abs .", "2022 a net increase of $ 6.1 billion in msrs , due to increases in the fair value of the asset , related primarily to market interest rate and other changes affecting the firm's estimate of future pre- payments , as well as sales in rfs of originated loans for which servicing rights were retained .", "these increases were offset par- tially by servicing portfolio runoff .", "2022 a net increase of $ 1.9 billion in accrued interest and accounts receivable related to increases in subordinated retained interests from the firm 2019s credit card securitization activities .", "gains and losses gains and losses included in the tables for 2009 and 2008 included : 2022 $ 11.4 billion of net losses on derivatives , primarily related to the tightening of credit spreads .", "2022 net losses on trading 2013debt and equity instruments of $ 671 million , consisting of $ 2.1 billion of losses , primarily related to residential and commercial loans and mbs , principally driven by markdowns and sales , partially offset by gains of $ 1.4 billion , reflecting increases in the fair value of other abs .", "( for a further discussion of the gains and losses on mortgage-related expo- sures , inclusive of risk management activities , see the 201cmort- gage-related exposures carried at fair value 201d discussion below. ) 2022 $ 5.8 billion of gains on msrs .", "2022 $ 1.4 billion of losses related to structured note liabilities , pre- dominantly due to volatility in the equity markets .", "2022 losses on trading-debt and equity instruments of approximately $ 12.8 billion , principally from mortgage-related transactions and auction-rate securities .", "2022 losses of $ 6.9 billion on msrs .", "2022 losses of approximately $ 3.9 billion on leveraged loans .", "2022 net gains of $ 4.6 billion related to derivatives , principally due to changes in credit spreads and rate curves .", "2022 gains of $ 4.5 billion related to structured notes , principally due to significant volatility in the fixed income , commodities and eq- uity markets .", "2022 private equity losses of $ 638 million .", "for further information on changes in the fair value of the msrs , see note 17 on pages 223 2013224 of this annual report. ." ]

[ [ "(in millions)", "2009", "2008", "2007" ], [ "Loans retained", "$(3,550)", "$(1,159)", "$(218)" ], [ "Loans held-for-sale", "(389)", "(2,728)", "(502)" ], [ "Total loans", "(3,939)", "(3,887)", "(720)" ], [ "Other assets", "(104)", "(685)", "(161)" ], [ "Accounts payable andother liabilities", "31", "(285)", "2" ], [ "Total nonrecurringfairvalue gains/(losses)", "$(4,012)", "$(4,857)", "$(879)" ] ]

[ [ "( in millions )", "2009", "2008", "2007" ], [ "loans retained", "$ -3550 ( 3550 )", "$ -1159 ( 1159 )", "$ -218 ( 218 )" ], [ "loans held-for-sale", "-389 ( 389 )", "-2728 ( 2728 )", "-502 ( 502 )" ], [ "total loans", "-3939 ( 3939 )", "-3887 ( 3887 )", "-720 ( 720 )" ], [ "other assets", "-104 ( 104 )", "-685 ( 685 )", "-161 ( 161 )" ], [ "accounts payable andother liabilities", "31", "-285 ( 285 )", "2" ], [ "total nonrecurringfairvalue gains/ ( losses )", "$ -4012 ( 4012 )", "$ -4857 ( 4857 )", "$ -879 ( 879 )" ] ]

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[ "item 6 .", "selected financial data the following table represents our selected financial data .", "the table should be read in conjunction with item 7 and item 8 of this report .", "the table below reflects immaterial error corrections discussed in note 2 : summary of significant accounting policies in item 8. ." ]

[ "basic earnings ( loss ) per share ( 3 ) $ 2.96 $ ( 2.05 ) $ 2.68 $ 2.44 $ ( 49.14 ) diluted earnings ( loss ) per share ( 3 ) $ 2.91 $ ( 2.05 ) $ 2.68 $ 2.44 $ ( 49.14 ) ( 1 ) long-term debt does not include amounts payable to our former parent as of and before december 31 , 2010 , as these amounts were due upon demand and included in current liabilities .", "( 2 ) free cash flow is a non-gaap financial measure and represents cash from operating activities less capital expenditures .", "see liquidity and capital resources in item 7 for more information on this measure .", "( 3 ) on march 30 , 2011 , the record date of the stock distribution associated with the spin-off from northrop grumman , approximately 48.8 million shares of $ 0.01 par value hii common stock were distributed to northrop grumman stockholders .", "this share amount was utilized for the calculation of basic and diluted earnings ( loss ) per share for the three months ended march 31 , 2011 , and all prior periods , as no common stock of the company existed prior to march 30 , 2011 , and the impact of dilutive securities in the three month period ended march 31 , 2011 , was not meaningful. ." ]

[ [ "", "Year Ended December 31" ], [ "($ in millions, except per share amounts)", "2012", "2011", "2010", "2009", "2008" ], [ "Sales and service revenues", "$6,708", "$6,575", "$6,723", "$6,292", "$6,189" ], [ "Goodwill impairment", "—", "290", "—", "—", "2,465" ], [ "Operating income (loss)", "358", "100", "241", "203", "(2,332)" ], [ "Net earnings (loss)", "146", "(100)", "131", "119", "(2,397)" ], [ "Total assets", "6,392", "6,069", "5,270", "5,097", "4,821" ], [ "Long-term debt⁽¹⁾", "1,779", "1,830", "105", "283", "283" ], [ "Total long-term obligations", "4,341", "3,838", "1,637", "1,708", "1,823" ], [ "Free cash flow⁽²⁾", "170", "331", "168", "(269)", "121" ], [ "Dividends declared per share", "$0.10", "$—", "$—", "$—", "$—" ], [ "Basic earnings (loss) per share⁽³⁾", "$2.96", "$(2.05)", "$2.68", "$2.44", "$(49.14)" ], [ "Diluted earnings (loss) per share⁽³⁾", "$2.91", "$(2.05)", "$2.68", "$2.44", "$(49.14)" ] ]

[ [ "( $ in millions except per share amounts )", "year ended december 31 2012", "year ended december 31 2011", "year ended december 31 2010", "year ended december 31 2009", "year ended december 31 2008" ], [ "sales and service revenues", "$ 6708", "$ 6575", "$ 6723", "$ 6292", "$ 6189" ], [ "goodwill impairment", "2014", "290", "2014", "2014", "2465" ], [ "operating income ( loss )", "358", "100", "241", "203", "-2332 ( 2332 )" ], [ "net earnings ( loss )", "146", "-100 ( 100 )", "131", "119", "-2397 ( 2397 )" ], [ "total assets", "6392", "6069", "5270", "5097", "4821" ], [ "long-term debt ( 1 )", "1779", "1830", "105", "283", "283" ], [ "total long-term obligations", "4341", "3838", "1637", "1708", "1823" ], [ "free cash flow ( 2 )", "170", "331", "168", "-269 ( 269 )", "121" ], [ "dividends declared per share", "$ 0.10", "$ 2014", "$ 2014", "$ 2014", "$ 2014" ], [ "basic earnings ( loss ) per share ( 3 )", "$ 2.96", "$ -2.05 ( 2.05 )", "$ 2.68", "$ 2.44", "$ -49.14 ( 49.14 )" ], [ "diluted earnings ( loss ) per share ( 3 )", "$ 2.91", "$ -2.05 ( 2.05 )", "$ 2.68", "$ 2.44", "$ -49.14 ( 49.14 )" ] ]

[]

[ "a significant portion of our natural gas production in the lower 48 states of the u.s .", "is sold at bid-week prices or first-of-month indices relative to our specific producing areas .", "average settlement date henry hub natural gas prices have been relatively stable for the periods of this report ; however , a decline began in september 2011 which has continued in 2012 with february averaging $ 2.68 per mmbtu .", "should u.s .", "natural gas prices remain depressed , an impairment charge related to our natural gas assets may be necessary .", "our other major natural gas-producing regions are europe and eg .", "natural gas prices in europe have been significantly higher than in the u.s .", "in the case of eg our natural gas sales are subject to term contracts , making realized prices less volatile .", "the natural gas sales from eg are at fixed prices ; therefore , our worldwide reported average natural gas realized prices may not fully track market price movements .", "oil sands mining osm segment revenues correlate with prevailing market prices for the various qualities of synthetic crude oil we produce .", "roughly two-thirds of the normal output mix will track movements in wti and one-third will track movements in the canadian heavy sour crude oil marker , primarily western canadian select .", "output mix can be impacted by operational problems or planned unit outages at the mines or the upgrader .", "the operating cost structure of the oil sands mining operations is predominantly fixed and therefore many of the costs incurred in times of full operation continue during production downtime .", "per-unit costs are sensitive to production rates .", "key variable costs are natural gas and diesel fuel , which track commodity markets such as the canadian alberta energy company ( 201caeco 201d ) natural gas sales index and crude oil prices , respectively .", "recently aeco prices have declined , much as henry hub prices have .", "we would expect a significant , continued declined in natural gas prices to have a favorable impact on osm operating costs .", "the table below shows average benchmark prices that impact both our revenues and variable costs. ." ]

[ "wti crude oil ( dollars per bbl ) $ 95.11 $ 79.61 $ 62.09 western canadian select ( dollars per bbl ) ( a ) 77.97 65.31 52.13 aeco natural gas sales index ( dollars per mmbtu ) ( b ) $ 3.68 $ 3.89 $ 3.49 ( a ) monthly pricing based upon average wti adjusted for differentials unique to western canada .", "( b ) monthly average day ahead index .", "integrated gas our integrated gas operations include production and marketing of products manufactured from natural gas , such as lng and methanol , in eg .", "world lng trade in 2011 has been estimated to be 241 mmt .", "long-term , lng continues to be in demand as markets seek the benefits of clean burning natural gas .", "market prices for lng are not reported or posted .", "in general , lng delivered to the u.s .", "is tied to henry hub prices and will track with changes in u.s .", "natural gas prices , while lng sold in europe and asia is indexed to crude oil prices and will track the movement of those prices .", "we have a 60 percent ownership in an lng production facility in equatorial guinea , which sells lng under a long-term contract at prices tied to henry hub natural gas prices .", "gross sales from the plant were 4.1 mmt , 3.7 mmt and 3.9 mmt in 2011 , 2010 and 2009 .", "we own a 45 percent interest in a methanol plant located in equatorial guinea through our investment in ampco .", "gross sales of methanol from the plant totaled 1039657 , 850605 and 960374 metric tonnes in 2011 , 2010 and 2009 .", "methanol demand has a direct impact on ampco 2019s earnings .", "because global demand for methanol is rather limited , changes in the supply-demand balance can have a significant impact on sales prices .", "world demand for methanol in 2011 has been estimated to be 55.4 mmt .", "our plant capacity of 1.1 mmt is about 2 percent of total demand .", "operating and financial highlights significant operating and financial highlights during 2011 include : 2022 completed the spin-off of our downstream business on june 30 , 2011 2022 acquired a significant operated position in the eagle ford shale play in south texas 2022 added net proved reserves , for the e&p and osm segments combined , of 307 mmboe , excluding dispositions , for a 212 percent reserve replacement ratio ." ]

[ [ "Benchmark", "2011", "2010", "2009" ], [ "WTI crude oil<i>(Dollars per bbl)</i>", "$95.11", "$79.61", "$62.09" ], [ "Western Canadian Select<i>(Dollars per bbl)</i>^(a)", "77.97", "65.31", "52.13" ], [ "AECO natural gas sales index<i>(Dollars per mmbtu)</i>^(b)", "$3.68", "$3.89", "$3.49" ] ]

[ [ "benchmark", "2011", "2010", "2009" ], [ "wti crude oil ( dollars per bbl )", "$ 95.11", "$ 79.61", "$ 62.09" ], [ "western canadian select ( dollars per bbl ) ( a )", "77.97", "65.31", "52.13" ], [ "aeco natural gas sales index ( dollars per mmbtu ) ( b )", "$ 3.68", "$ 3.89", "$ 3.49" ] ]

[ { "arg1": "77.97", "arg2": "52.13", "op": "minus2-1", "res": "25.84" }, { "arg1": "#0", "arg2": "52.13", "op": "divide2-2", "res": "49.6%" } ]

[ "jpmorgan chase & co./2009 annual report 181 the following table shows the current credit risk of derivative receivables after netting adjustments , and the current liquidity risk of derivative payables after netting adjustments , as of december 31 , 2009. ." ]

[ "in addition to the collateral amounts reflected in the table above , at december 31 , 2009 , the firm had received and posted liquid secu- rities collateral in the amount of $ 15.5 billion and $ 11.7 billion , respectively .", "the firm also receives and delivers collateral at the initiation of derivative transactions , which is available as security against potential exposure that could arise should the fair value of the transactions move in the firm 2019s or client 2019s favor , respectively .", "furthermore , the firm and its counterparties hold collateral related to contracts that have a non-daily call frequency for collateral to be posted , and collateral that the firm or a counterparty has agreed to return but has not yet settled as of the reporting date .", "at december 31 , 2009 , the firm had received $ 16.9 billion and delivered $ 5.8 billion of such additional collateral .", "these amounts were not netted against the derivative receivables and payables in the table above , because , at an individual counterparty level , the collateral exceeded the fair value exposure at december 31 , 2009 .", "credit derivatives credit derivatives are financial instruments whose value is derived from the credit risk associated with the debt of a third-party issuer ( the reference entity ) and which allow one party ( the protection purchaser ) to transfer that risk to another party ( the protection seller ) .", "credit derivatives expose the protection purchaser to the creditworthiness of the protection seller , as the protection seller is required to make payments under the contract when the reference entity experiences a credit event , such as a bankruptcy , a failure to pay its obligation or a restructuring .", "the seller of credit protection receives a premium for providing protection but has the risk that the underlying instrument referenced in the contract will be subject to a credit event .", "the firm is both a purchaser and seller of protection in the credit derivatives market and uses these derivatives for two primary purposes .", "first , in its capacity as a market-maker in the dealer/client business , the firm actively risk manages a portfolio of credit derivatives by purchasing and selling credit protection , pre- dominantly on corporate debt obligations , to meet the needs of customers .", "as a seller of protection , the firm 2019s exposure to a given reference entity may be offset partially , or entirely , with a contract to purchase protection from another counterparty on the same or similar reference entity .", "second , the firm uses credit derivatives to mitigate credit risk associated with its overall derivative receivables and traditional commercial credit lending exposures ( loans and unfunded commitments ) as well as to manage its exposure to residential and commercial mortgages .", "see note 3 on pages 156--- 173 of this annual report for further information on the firm 2019s mortgage-related exposures .", "in accomplishing the above , the firm uses different types of credit derivatives .", "following is a summary of various types of credit derivatives .", "credit default swaps credit derivatives may reference the credit of either a single refer- ence entity ( 201csingle-name 201d ) or a broad-based index , as described further below .", "the firm purchases and sells protection on both single- name and index-reference obligations .", "single-name cds and index cds contracts are both otc derivative contracts .", "single- name cds are used to manage the default risk of a single reference entity , while cds index are used to manage credit risk associated with the broader credit markets or credit market segments .", "like the s&p 500 and other market indices , a cds index is comprised of a portfolio of cds across many reference entities .", "new series of cds indices are established approximately every six months with a new underlying portfolio of reference entities to reflect changes in the credit markets .", "if one of the reference entities in the index experi- ences a credit event , then the reference entity that defaulted is removed from the index .", "cds can also be referenced against spe- cific portfolios of reference names or against customized exposure levels based on specific client demands : for example , to provide protection against the first $ 1 million of realized credit losses in a $ 10 million portfolio of exposure .", "such structures are commonly known as tranche cds .", "for both single-name cds contracts and index cds , upon the occurrence of a credit event , under the terms of a cds contract neither party to the cds contract has recourse to the reference entity .", "the protection purchaser has recourse to the protection seller for the difference between the face value of the cds contract and the fair value of the reference obligation at the time of settling the credit derivative contract , also known as the recovery value .", "the protection purchaser does not need to hold the debt instrument of the underlying reference entity in order to receive amounts due under the cds contract when a credit event occurs .", "credit-linked notes a credit linked note ( 201ccln 201d ) is a funded credit derivative where the issuer of the cln purchases credit protection on a referenced entity from the note investor .", "under the contract , the investor pays the issuer par value of the note at the inception of the transaction , and in return , the issuer pays periodic payments to the investor , based on the credit risk of the referenced entity .", "the issuer also repays the investor the par value of the note at maturity unless the reference entity experiences a specified credit event .", "in that event , the issuer is not obligated to repay the par value of the note , but rather , the issuer pays the investor the difference between the par value of the note ." ]

[ [ "December 31, 2009 (in millions)", "Derivative receivables", "Derivative payables" ], [ "Gross derivative fair value", "$1,565,518", "$1,519,183" ], [ "Nettingadjustment – offsetting receivables/payables", "(1,419,840)", "(1,419,840)" ], [ "Nettingadjustment – cash collateral received/paid", "(65,468)", "(39,218)" ], [ "Carrying value on Consolidated Balance Sheets", "$80,210", "$60,125" ] ]

[ [ "december 31 2009 ( in millions )", "derivative receivables", "derivative payables" ], [ "gross derivative fair value", "$ 1565518", "$ 1519183" ], [ "nettingadjustment 2013 offsetting receivables/payables", "-1419840 ( 1419840 )", "-1419840 ( 1419840 )" ], [ "nettingadjustment 2013 cash collateral received/paid", "-65468 ( 65468 )", "-39218 ( 39218 )" ], [ "carrying value on consolidated balance sheets", "$ 80210", "$ 60125" ] ]

[ { "arg1": "65468", "arg2": "const_1000000", "op": "multiply1-1", "res": "65468000000" }, { "arg1": "15.5", "arg2": "const_1000000", "op": "multiply1-2", "res": "15500000" }, { "arg1": "#1", "arg2": "const_1000", "op": "multiply1-3", "res": "15500000000" }, { "arg1": "#2", "arg2": "#0", "op": "add1-4", "res": "80968000000" } ]

[ "entergy corporation and subsidiaries management 2019s financial discussion and analysis palisades plants and related assets to their fair values .", "see note 14 to the financial statements for further discussion of the impairment and related charges .", "as a result of the entergy louisiana and entergy gulf states louisiana business combination , results of operations for 2015 also include two items that occurred in october 2015 : 1 ) a deferred tax asset and resulting net increase in tax basis of approximately $ 334 million and 2 ) a regulatory liability of $ 107 million ( $ 66 million net-of-tax ) as a result of customer credits to be realized by electric customers of entergy louisiana , consistent with the terms of the stipulated settlement in the business combination proceeding .", "see note 2 to the financial statements for further discussion of the business combination and customer credits .", "results of operations for 2015 also include the sale in december 2015 of the 583 mw rhode island state energy center for a realized gain of $ 154 million ( $ 100 million net-of-tax ) on the sale and the $ 77 million ( $ 47 million net-of-tax ) write-off and regulatory charges to recognize that a portion of the assets associated with the waterford 3 replacement steam generator project is no longer probable of recovery .", "see note 14 to the financial statements for further discussion of the rhode island state energy center sale .", "see note 2 to the financial statements for further discussion of the waterford 3 write-off .", "net revenue utility following is an analysis of the change in net revenue comparing 2016 to 2015 .", "amount ( in millions ) ." ]

[ "the retail electric price variance is primarily due to : 2022 an increase in base rates at entergy arkansas , as approved by the apsc .", "the new rates were effective february 24 , 2016 and began billing with the first billing cycle of april 2016 .", "the increase includes an interim base rate adjustment surcharge , effective with the first billing cycle of april 2016 , to recover the incremental revenue requirement for the period february 24 , 2016 through march 31 , 2016 .", "a significant portion of the increase is related to the purchase of power block 2 of the union power station ; 2022 an increase in the purchased power and capacity acquisition cost recovery rider for entergy new orleans , as approved by the city council , effective with the first billing cycle of march 2016 , primarily related to the purchase of power block 1 of the union power station ; 2022 an increase in formula rate plan revenues for entergy louisiana , implemented with the first billing cycle of march 2016 , to collect the estimated first-year revenue requirement related to the purchase of power blocks 3 and 4 of the union power station ; and 2022 an increase in revenues at entergy mississippi , as approved by the mpsc , effective with the first billing cycle of july 2016 , and an increase in revenues collected through the storm damage rider .", "see note 2 to the financial statements for further discussion of the rate proceedings .", "see note 14 to the financial statements for discussion of the union power station purchase .", "the louisiana business combination customer credits variance is due to a regulatory liability of $ 107 million recorded by entergy in october 2015 as a result of the entergy gulf states louisiana and entergy louisiana business ." ]

[ [ "", "Amount (In Millions)" ], [ "2015 net revenue", "$5,829" ], [ "Retail electric price", "289" ], [ "Louisiana business combination customer credits", "107" ], [ "Volume/weather", "14" ], [ "Louisiana Act 55 financing savings obligation", "(17)" ], [ "Other", "(43)" ], [ "2016 net revenue", "$6,179" ] ]

[ [ "", "amount ( in millions )" ], [ "2015 net revenue", "$ 5829" ], [ "retail electric price", "289" ], [ "louisiana business combination customer credits", "107" ], [ "volume/weather", "14" ], [ "louisiana act 55 financing savings obligation", "-17 ( 17 )" ], [ "other", "-43 ( 43 )" ], [ "2016 net revenue", "$ 6179" ] ]

[ { "arg1": "6179", "arg2": "5829", "op": "minus1-1", "res": "350" }, { "arg1": "#0", "arg2": "5829", "op": "divide1-2", "res": "6.0%" } ]

[ "hologic , inc .", "notes to consolidated financial statements 2014 ( continued ) ( in thousands , except per share data ) future minimum lease payments under all the company 2019s operating leases are approximately as follows: ." ]

[ "the company subleases a portion of its bedford facility and has received rental income of $ 277 , $ 410 and $ 682 for fiscal years 2004 , 2003 and 2002 , respectively , which has been recorded as an offset to rent expense in the accompanying statements of income .", "rental expense , net of sublease income , was approximately $ 4660 , $ 4963 , and $ 2462 for fiscal 2004 , 2003 and 2002 , respectively .", "9 .", "business segments and geographic information the company reports segment information in accordance with sfas no .", "131 , disclosures about segments of an enterprise and related information .", "operating segments are identified as components of an enterprise about which separate , discrete financial information is available for evaluation by the chief operating decision maker , or decision-making group , in making decisions how to allocate resources and assess performance .", "the company 2019s chief decision-maker , as defined under sfas no .", "131 , is the chief executive officer .", "to date , the company has viewed its operations and manages its business as four principal operating segments : the manufacture and sale of mammography products , osteoporosis assessment products , digital detectors and other products .", "as a result of the company 2019s implementation of a company wide integrated software application in fiscal 2003 , identifiable assets for the four principal operating segments only consist of inventories , intangible assets , and property and equipment .", "the company has presented all other assets as corporate assets .", "prior periods have been restated to conform to this presentation .", "intersegment sales and transfers are not significant. ." ]

[ [ "Fiscal Years Ending", "Amount" ], [ "September 24, 2005", "$4,848" ], [ "September 30, 2006", "4,672" ], [ "September 29, 2007", "3,680" ], [ "September 27, 2008", "3,237" ], [ "September 26, 2009", "3,158" ], [ "Thereafter", "40,764" ], [ "Total (not reduced by minimum sublease rentals of $165)", "$60,359" ] ]

[ [ "fiscal years ending", "amount" ], [ "september 24 2005", "$ 4848" ], [ "september 30 2006", "4672" ], [ "september 29 2007", "3680" ], [ "september 27 2008", "3237" ], [ "september 26 2009", "3158" ], [ "thereafter", "40764" ], [ "total ( not reduced by minimum sublease rentals of $ 165 )", "$ 60359" ] ]

[ { "arg1": "4963", "arg2": "2462", "op": "minus1-1", "res": "2501" }, { "arg1": "#0", "arg2": "2462", "op": "divide1-2", "res": "102%" } ]

[ "operating expenses millions 2012 2011 2010 % ( % ) change 2012 v 2011 % ( % ) change 2011 v 2010 ." ]

[ "operating expenses increased $ 348 million in 2012 versus 2011 .", "depreciation , wage and benefit inflation , higher fuel prices and volume- related trucking services purchased by our logistics subsidiaries , contributed to higher expenses during the year .", "efficiency gains , volume related fuel savings ( 2% ( 2 % ) fewer gallons of fuel consumed ) and $ 38 million of weather related expenses in 2011 , which favorably affects the comparison , partially offset the cost increase .", "operating expenses increased $ 1.8 billion in 2011 versus 2010 .", "our fuel price per gallon rose 36% ( 36 % ) during 2011 , accounting for $ 922 million of the increase .", "wage and benefit inflation , volume-related costs , depreciation , and property taxes also contributed to higher expenses .", "expenses increased $ 20 million for costs related to the flooding in the midwest and $ 18 million due to the impact of severe heat and drought in the south , primarily texas .", "cost savings from productivity improvements and better resource utilization partially offset these increases .", "a $ 45 million one-time payment relating to a transaction with csx intermodal , inc ( csxi ) increased operating expenses during the first quarter of 2010 , which favorably affects the comparison of operating expenses in 2011 to those in 2010 .", "compensation and benefits 2013 compensation and benefits include wages , payroll taxes , health and welfare costs , pension costs , other postretirement benefits , and incentive costs .", "expenses in 2012 were essentially flat versus 2011 as operational improvements and cost reductions offset general wage and benefit inflation and higher pension and other postretirement benefits .", "in addition , weather related costs increased these expenses in 2011 .", "a combination of general wage and benefit inflation , volume-related expenses , higher training costs associated with new hires , additional crew costs due to speed restrictions caused by the midwest flooding and heat and drought in the south , and higher pension expense drove the increase during 2011 compared to 2010 .", "fuel 2013 fuel includes locomotive fuel and gasoline for highway and non-highway vehicles and heavy equipment .", "higher locomotive diesel fuel prices , which averaged $ 3.22 per gallon ( including taxes and transportation costs ) in 2012 , compared to $ 3.12 in 2011 , increased expenses by $ 105 million .", "volume , as measured by gross ton-miles , decreased 2% ( 2 % ) in 2012 versus 2011 , driving expense down .", "the fuel consumption rate was flat year-over-year .", "higher locomotive diesel fuel prices , which averaged $ 3.12 ( including taxes and transportation costs ) in 2011 , compared to $ 2.29 per gallon in 2010 , increased expenses by $ 922 million .", "in addition , higher gasoline prices for highway and non-highway vehicles also increased year-over-year .", "volume , as measured by gross ton-miles , increased 5% ( 5 % ) in 2011 versus 2010 , driving expense up by $ 122 million .", "purchased services and materials 2013 expense for purchased services and materials includes the costs of services purchased from outside contractors and other service providers ( including equipment 2012 operating expenses ." ]

[ [ "<i>Millions</i>", "<i>2012</i>", "<i>2011</i>", "<i>2010</i>", "<i>% Change 2012 v 2011</i>", "<i>% Change 2011 v 2010</i>" ], [ "Compensation and benefits", "$4,685", "$4,681", "$4,314", "-%", "9%" ], [ "Fuel", "3,608", "3,581", "2,486", "1", "44" ], [ "Purchased services and materials", "2,143", "2,005", "1,836", "7", "9" ], [ "Depreciation", "1,760", "1,617", "1,487", "9", "9" ], [ "Equipment and other rents", "1,197", "1,167", "1,142", "3", "2" ], [ "Other", "788", "782", "719", "1", "9" ], [ "Total", "$14,181", "$13,833", "$11,984", "3%", "15%" ] ]

[ [ "millions", "2012", "2011", "2010", "% ( % ) change 2012 v 2011", "% ( % ) change 2011 v 2010" ], [ "compensation and benefits", "$ 4685", "$ 4681", "$ 4314", "-% ( - % )", "9% ( 9 % )" ], [ "fuel", "3608", "3581", "2486", "1", "44" ], [ "purchased services and materials", "2143", "2005", "1836", "7", "9" ], [ "depreciation", "1760", "1617", "1487", "9", "9" ], [ "equipment and other rents", "1197", "1167", "1142", "3", "2" ], [ "other", "788", "782", "719", "1", "9" ], [ "total", "$ 14181", "$ 13833", "$ 11984", "3% ( 3 % )", "15% ( 15 % )" ] ]

[ { "arg1": "1197", "arg2": "1167", "op": "minus1-1", "res": "30" }, { "arg1": "14181", "arg2": "13833", "op": "minus1-2", "res": "348" }, { "arg1": "#0", "arg2": "#1", "op": "divide1-3", "res": "8.6%" } ]

[ "our international networks segment owns and operates the following television networks , which reached the following number of subscribers via pay television services as of december 31 , 2013 : global networks international subscribers ( millions ) regional networks international subscribers ( millions ) ." ]

[ "( a ) number of subscribers corresponds to the collective sum of the total number of subscribers to each of the sbs nordic broadcast networks in sweden , norway , and denmark subject to retransmission agreements with pay television providers .", "( b ) number of subscribers corresponds to dmax pay television networks in the u.k. , austria , switzerland and ireland .", "our international networks segment also owns and operates free-to-air television networks which reached 285 million cumulative viewers in europe and the middle east as of december 31 , 2013 .", "our free-to-air networks include dmax , fatafeat , quest , real time , giallo , frisbee , focus and k2 .", "similar to u.s .", "networks , the primary sources of revenue for international networks are fees charged to operators who distribute our networks , which primarily include cable and dth satellite service providers , and advertising sold on our television networks .", "international television markets vary in their stages of development .", "some markets , such as the u.k. , are more advanced digital television markets , while others remain in the analog environment with varying degrees of investment from operators to expand channel capacity or convert to digital technologies .", "common practice in some markets results in long-term contractual distribution relationships , while customers in other markets renew contracts annually .", "distribution revenue for our international networks segment is largely dependent on the number of subscribers that receive our networks or content , the rates negotiated in the agreements , and the market demand for the content that we provide .", "advertising revenue is dependent upon a number of factors including the development of pay and free-to-air television markets , the number of subscribers to and viewers of our channels , viewership demographics , the popularity of our programming , and our ability to sell commercial time over a group of channels .", "in certain markets , our advertising sales business operates with in-house sales teams , while we rely on external sales representation services in other markets .", "in developing television markets , we expect that advertising revenue growth will result from continued subscriber and viewership growth , our localization strategy , and the shift of advertising spending from traditional analog networks to channels in the multi-channel environment .", "in relatively mature markets , such as western europe , growth in advertising revenue will come from increasing viewership and pricing of advertising on our existing television networks and the launching of new services , both organic and through acquisitions .", "during 2013 , distribution , advertising and other revenues were 50% ( 50 % ) , 47% ( 47 % ) and 3% ( 3 % ) , respectively , of total net revenues for this segment .", "on january 21 , 2014 , we entered into an agreement with tf1 to acquire a controlling interest in eurosport international ( \"eurosport\" ) , a leading pan-european sports media platform , by increasing our ownership stake from 20% ( 20 % ) to 51% ( 51 % ) for cash of approximately 20ac253 million ( $ 343 million ) subject to working capital adjustments .", "due to regulatory constraints the acquisition initially excludes eurosport france , a subsidiary of eurosport .", "we will retain a 20% ( 20 % ) equity interest in eurosport france and a commitment to acquire another 31% ( 31 % ) ownership interest beginning 2015 , contingent upon resolution of all regulatory matters .", "the flagship eurosport network focuses on regionally popular sports such as tennis , skiing , cycling and motor sports and reaches 133 million homes across 54 countries in 20 languages .", "eurosport 2019s brands and platforms also include eurosport hd ( high definition simulcast ) , eurosport 2 , eurosport 2 hd ( high definition simulcast ) , eurosport asia-pacific , and eurosportnews .", "the acquisition is intended to increase the growth of eurosport and enhance our pay television offerings in europe .", "tf1 will have the right to put the entirety of its remaining 49% ( 49 % ) non-controlling interest to us for approximately two and a half years after completion of this acquisition .", "the put has a floor value equal to the fair value at the acquisition date if exercised in the 90 day period beginning on july 1 , 2015 and is subsequently priced at fair value if exercised in the 90 day period beginning on july 1 , 2016 .", "we expect the acquisition to close in the second quarter of 2014 subject to obtaining necessary regulatory approvals. ." ]

[ [ "Global Networks", "InternationalSubscribers(millions)", "Regional Networks", "InternationalSubscribers(millions)" ], [ "Discovery Channel", "271", "Discovery Kids", "76" ], [ "Animal Planet", "200", "SBS Nordic^(a)", "28" ], [ "TLC, Real Time and Travel & Living", "162", "DMAX^(b)", "16" ], [ "Discovery Science", "81", "Discovery History", "14" ], [ "Investigation Discovery", "74", "Shed", "12" ], [ "Discovery Home & Health", "64", "Discovery en Espanol (U.S.)", "5" ], [ "Turbo", "52", "Discovery Familia (U.S.)", "4" ], [ "Discovery World", "23", "GXT", "4" ] ]

[ [ "global networks discovery channel", "internationalsubscribers ( millions ) 271", "regional networks discovery kids", "internationalsubscribers ( millions ) 76" ], [ "animal planet", "200", "sbs nordic ( a )", "28" ], [ "tlc real time and travel & living", "162", "dmax ( b )", "16" ], [ "discovery science", "81", "discovery history", "14" ], [ "investigation discovery", "74", "shed", "12" ], [ "discovery home & health", "64", "discovery en espanol ( u.s. )", "5" ], [ "turbo", "52", "discovery familia ( u.s. )", "4" ], [ "discovery world", "23", "gxt", "4" ] ]

[]

[ "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. ." ]

[ [ "Years", "DomesticPension Plan", "ForeignPension Plans", "Domestic PostretirementBenefit Plan" ], [ "2019", "$14.5", "$21.7", "$3.0" ], [ "2020", "8.8", "18.7", "2.8" ], [ "2021", "8.0", "19.8", "2.6" ], [ "2022", "8.3", "20.9", "2.4" ], [ "2023", "7.8", "21.8", "2.2" ], [ "2024 - 2028", "36.7", "117.2", "9.8" ] ]

[ [ "years", "domesticpension plan", "foreignpension plans", "domestic postretirementbenefit plan" ], [ "2019", "$ 14.5", "$ 21.7", "$ 3.0" ], [ "2020", "8.8", "18.7", "2.8" ], [ "2021", "8.0", "19.8", "2.6" ], [ "2022", "8.3", "20.9", "2.4" ], [ "2023", "7.8", "21.8", "2.2" ], [ "2024 - 2028", "36.7", "117.2", "9.8" ] ]

[]

[ "n o t e s t o c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s ( continued ) ace limited and subsidiaries the following table shows changes in the company 2019s restricted stock for the years ended december 31 , 2008 , 2007 , and 2006 : number of restricted stock weighted average grant- date fair value ." ]

[ "under the provisions of fas 123r , the recognition of deferred compensation , a contra-equity account representing the amount of unrecognized restricted stock expense that is reduced as expense is recognized , at the date restricted stock is granted is no longer permitted .", "therefore , upon adoption of fas 123r , the amount of deferred compensation that had been reflected in unearned stock grant compensation was reclassified to additional paid-in capital in the company 2019s consolidated balance sheet .", "restricted stock units the company 2019s 2004 ltip also provides for grants of other awards , including restricted stock units .", "the company generally grants restricted stock units with a 4-year vesting period , based on a graded vesting schedule .", "each restricted stock unit repre- sents the company 2019s obligation to deliver to the holder one share of common shares upon vesting .", "during 2008 , the company awarded 223588 restricted stock units to officers of the company and its subsidiaries with a weighted-average grant date fair value of $ 59.93 .", "during 2007 , 108870 restricted stock units , with a weighted-average grant date fair value of $ 56.29 were awarded to officers of the company and its subsidiaries .", "during 2006 , 83370 restricted stock units , with a weighted-average grant date fair value of $ 56.36 were awarded to officers of the company and its subsidiaries .", "the company also grants restricted stock units with a 1-year vesting period to non-management directors .", "delivery of common shares on account of these restricted stock units to non-management directors is deferred until six months after the date of the non-management directors 2019 termination from the board .", "during 2008 , 2007 , and 2006 , 40362 restricted stock units , 29676 restricted stock units , and 23092 restricted stock units , respectively , were awarded to non-management direc- the espp gives participating employees the right to purchase common shares through payroll deductions during consecutive 201csubscription periods . 201d annual purchases by participants are limited to the number of whole shares that can be purchased by an amount equal to ten percent of the participant 2019s compensation or $ 25000 , whichever is less .", "the espp has two six-month subscription periods , the first of which runs between january 1 and june 30 and the second of which runs between july 1 and december 31 of each year .", "the amounts that have been collected from participants during a subscription period are used on the 201cexercise date 201d to purchase full shares of common shares .", "an exercise date is generally the last trading day of a sub- scription period .", "the number of shares purchased is equal to the total amount , as of the exercise date , that has been collected from the participants through payroll deductions for that subscription period , divided by the 201cpurchase price 201d , rounded down to the next full share .", "effective for and from the second subscription period of 2007 , the purchase price is 85 percent of the fair value of a common share on the exercise date .", "prior to the second subscription period of 2007 , the purchase price was calculated as the lower of ( i ) 85 percent of the fair value of a common share on the first day of the subscription period , or ." ]

[ [ "", "Number of Restricted Stock", "Weighted Average Grant- Date Fair Value" ], [ "Unvested restricted stock, December 31, 2005", "3,488,668", "$41.26" ], [ "Granted", "1,632,504", "$56.05" ], [ "Vested and issued", "(1,181,249)", "$40.20" ], [ "Forfeited", "(360,734)", "$44.04" ], [ "Unvested restricted stock, December 31, 2006", "3,579,189", "$48.07" ], [ "Granted", "1,818,716", "$56.45" ], [ "Vested and issued", "(1,345,412)", "$44.48" ], [ "Forfeited", "(230,786)", "$51.57" ], [ "Unvested restricted stock, December 31, 2007", "3,821,707", "$53.12" ], [ "Granted", "1,836,532", "$59.84" ], [ "Vested and issued", "(1,403,826)", "$50.96" ], [ "Forfeited", "(371,183)", "$53.75" ], [ "Unvested restricted stock, December 31, 2008", "3,883,230", "$57.01" ] ]

[ [ "", "number of restricted stock", "weighted average grant- date fair value" ], [ "unvested restricted stock december 31 2005", "3488668", "$ 41.26" ], [ "granted", "1632504", "$ 56.05" ], [ "vested and issued", "-1181249 ( 1181249 )", "$ 40.20" ], [ "forfeited", "-360734 ( 360734 )", "$ 44.04" ], [ "unvested restricted stock december 31 2006", "3579189", "$ 48.07" ], [ "granted", "1818716", "$ 56.45" ], [ "vested and issued", "-1345412 ( 1345412 )", "$ 44.48" ], [ "forfeited", "-230786 ( 230786 )", "$ 51.57" ], [ "unvested restricted stock december 31 2007", "3821707", "$ 53.12" ], [ "granted", "1836532", "$ 59.84" ], [ "vested and issued", "-1403826 ( 1403826 )", "$ 50.96" ], [ "forfeited", "-371183 ( 371183 )", "$ 53.75" ], [ "unvested restricted stock december 31 2008", "3883230", "$ 57.01" ] ]

[]

[ "entergy louisiana , llc management's financial discussion and analysis 2007 compared to 2006 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges ( credits ) .", "following is an analysis of the change in net revenue comparing 2007 to 2006 .", "amount ( in millions ) ." ]

[ "the base revenues variance is primarily due to increases effective september 2006 for the 2005 formula rate plan filing to recover lpsc-approved incremental deferred and ongoing capacity costs .", "see \"state and local rate regulation\" below and note 2 to the financial statements for a discussion of the formula rate plan filing .", "the volume/weather variance is due to increased electricity usage , including electricity sales during the unbilled service period .", "billed retail electricity usage increased a total of 666 gwh in all sectors compared to 2006 .", "see \"critical accounting estimates\" below and note 1 to the financial statements for further discussion of the accounting for unbilled revenues .", "the transmission revenue variance is primarily due to higher rates .", "the purchased power capacity variance is primarily due to higher purchased power capacity charges and the amortization of capacity charges effective september 2006 as a result of the formula rate plan filing in may 2006 .", "a portion of the purchased power capacity costs is offset in base revenues due to a base rate increase implemented to recover incremental deferred and ongoing purchased power capacity charges , as mentioned above .", "see \"state and local rate regulation\" below and note 2 to the financial statements for a discussion of the formula rate plan filing .", "gross operating revenues , fuel , purchased power expenses , and other regulatory charges ( credits ) gross operating revenues increased primarily due to : an increase of $ 143.1 million in fuel cost recovery revenues due to higher fuel rates and usage ; an increase of $ 78.4 million in base revenues , as discussed above ; and an increase of $ 37.5 million related to volume/weather , as discussed above .", "fuel and purchased power expenses increased primarily due to an increase in net area demand and an increase in deferred fuel expense as a result of higher fuel rates , as discussed above .", "other regulatory credits decreased primarily due to the deferral of capacity charges in 2006 in addition to the amortization of these capacity charges in 2007 as a result of the may 2006 formula rate plan filing ( for the 2005 test year ) with the lpsc to recover such costs through base rates effective september 2006 .", "see note 2 to the financial statements for a discussion of the formula rate plan and storm cost recovery filings with the lpsc. ." ]

[ [ "", "Amount (In Millions)" ], [ "2006 net revenue", "$942.1" ], [ "Base revenues", "78.4" ], [ "Volume/weather", "37.5" ], [ "Transmission revenue", "9.2" ], [ "Purchased power capacity", "(80.0)" ], [ "Other", "3.9" ], [ "2007 net revenue", "$991.1" ] ]

[ [ "", "amount ( in millions )" ], [ "2006 net revenue", "$ 942.1" ], [ "base revenues", "78.4" ], [ "volume/weather", "37.5" ], [ "transmission revenue", "9.2" ], [ "purchased power capacity", "-80.0 ( 80.0 )" ], [ "other", "3.9" ], [ "2007 net revenue", "$ 991.1" ] ]

[ { "arg1": "991.1", "arg2": "942.1", "op": "minus1-1", "res": "49" }, { "arg1": "#0", "arg2": "942.1", "op": "divide1-2", "res": "5.2%" } ]

[ "marketing we are a supplier of gasoline and distillates to resellers and consumers within our market area in the midwest , upper great plains , gulf coast and southeastern regions of the united states .", "in 2007 , our refined products sales volumes totaled 21.6 billion gallons , or 1.410 mmbpd .", "the average sales price of our refined products in aggregate was $ 86.53 per barrel for 2007 .", "the following table sets forth our refined products sales by product group and our average sales price for each of the last three years .", "refined product sales ( thousands of barrels per day ) 2007 2006 2005 ." ]

[ "total ( a ) 1410 1425 1455 average sales price ( dollars per barrel ) $ 86.53 $ 77.76 $ 66.42 ( a ) includes matching buy/sell volumes of 24 mbpd and 77 mbpd in 2006 and 2005 .", "on april 1 , 2006 , we changed our accounting for matching buy/sell arrangements as a result of a new accounting standard .", "this change resulted in lower refined products sales volumes for 2007 and the remainder of 2006 than would have been reported under our previous accounting practices .", "see note 2 to the consolidated financial statements .", "the wholesale distribution of petroleum products to private brand marketers and to large commercial and industrial consumers and sales in the spot market accounted for 69 percent of our refined products sales volumes in 2007 .", "we sold 49 percent of our gasoline volumes and 89 percent of our distillates volumes on a wholesale or spot market basis .", "half of our propane is sold into the home heating market , with the balance being purchased by industrial consumers .", "propylene , cumene , aromatics , aliphatics and sulfur are domestically marketed to customers in the chemical industry .", "base lube oils , maleic anhydride , slack wax , extract and pitch are sold throughout the united states and canada , with pitch products also being exported worldwide .", "we market asphalt through owned and leased terminals throughout the midwest , upper great plains , gulf coast and southeastern regions of the united states .", "our customer base includes approximately 750 asphalt-paving contractors , government entities ( states , counties , cities and townships ) and asphalt roofing shingle manufacturers .", "we have blended ethanol with gasoline for over 15 years and increased our blending program in 2007 , in part due to renewable fuel mandates .", "we blended 41 mbpd of ethanol into gasoline in 2007 and 35 mbpd in both 2006 and 2005 .", "the future expansion or contraction of our ethanol blending program will be driven by the economics of the ethanol supply and changes in government regulations .", "we sell reformulated gasoline in parts of our marketing territory , primarily chicago , illinois ; louisville , kentucky ; northern kentucky ; milwaukee , wisconsin and hartford , illinois , and we sell low-vapor-pressure gasoline in nine states .", "we also sell biodiesel in minnesota , illinois and kentucky .", "as of december 31 , 2007 , we supplied petroleum products to about 4400 marathon branded-retail outlets located primarily in ohio , michigan , indiana , kentucky and illinois .", "branded retail outlets are also located in georgia , florida , minnesota , wisconsin , north carolina , tennessee , west virginia , virginia , south carolina , alabama , pennsylvania , and texas .", "sales to marathon-brand jobbers and dealers accounted for 16 percent of our refined product sales volumes in 2007 .", "speedway superamerica llc ( 201cssa 201d ) , our wholly-owned subsidiary , sells gasoline and diesel fuel primarily through retail outlets that we operate .", "sales of refined products through these ssa retail outlets accounted for 15 percent of our refined products sales volumes in 2007 .", "as of december 31 , 2007 , ssa had 1636 retail outlets in nine states that sold petroleum products and convenience store merchandise and services , primarily under the brand names 201cspeedway 201d and 201csuperamerica . 201d ssa 2019s revenues from the sale of non-petroleum merchandise totaled $ 2.796 billion in 2007 , compared with $ 2.706 billion in 2006 .", "profit levels from the sale of such merchandise and services tend to be less volatile than profit levels from the retail sale of gasoline and diesel fuel .", "ssa also operates 59 valvoline instant oil change retail outlets located in michigan and northwest ohio .", "pilot travel centers llc ( 201cptc 201d ) , our joint venture with pilot corporation ( 201cpilot 201d ) , is the largest operator of travel centers in the united states with 286 locations in 37 states and canada at december 31 , 2007 .", "the travel centers offer diesel fuel , gasoline and a variety of other services , including on-premises brand-name restaurants at many locations .", "pilot and marathon each own a 50 percent interest in ptc. ." ]

[ [ "<i>(Thousands of barrels per day)</i>", "2007", "2006", "2005" ], [ "Gasoline", "791", "804", "836" ], [ "Distillates", "377", "375", "385" ], [ "Propane", "23", "23", "22" ], [ "Feedstocks and Special Products", "103", "106", "96" ], [ "Heavy Fuel Oil", "29", "26", "29" ], [ "Asphalt", "87", "91", "87" ], [ "TOTAL^(a)", "1,410", "1,425", "1,455" ], [ "<i>Average sales price (Dollars per barrel)</i>", "$86.53", "$77.76", "$66.42" ] ]

[ [ "( thousands of barrels per day )", "2007", "2006", "2005" ], [ "gasoline", "791", "804", "836" ], [ "distillates", "377", "375", "385" ], [ "propane", "23", "23", "22" ], [ "feedstocks and special products", "103", "106", "96" ], [ "heavy fuel oil", "29", "26", "29" ], [ "asphalt", "87", "91", "87" ], [ "total ( a )", "1410", "1425", "1455" ], [ "average sales price ( dollars per barrel )", "$ 86.53", "$ 77.76", "$ 66.42" ] ]

[ { "arg1": "23", "arg2": "23", "op": "add2-1", "res": "46" }, { "arg1": "#0", "arg2": "22", "op": "add2-2", "res": "68" } ]

[ "item 1b .", "unresolved staff comments not applicable .", "item 2 .", "properties our global headquarters are located in chicago , illinois , at 20 south wacker drive .", "the following is a description of our key locations and facilities .", "location primary use owned/leased lease expiration approximate size ( in square feet ) ( 1 ) 20 south wacker drive chicago , illinois global headquarters and office space leased 2032 ( 2 ) 512000 141 west jackson chicago , illinois trading floor and office space leased 2027 ( 3 ) 150000 333 s .", "lasalle chicago , illinois trading floor and office space owned n/a 300000 550 west washington chicago , illinois office space leased 2023 250000 one north end new york , new york trading floor and office space leased 2028 ( 4 ) 240000 ." ]

[ "data center 3 chicagoland area business continuity and co-location leased 2031 ( 5 ) 83000 bagmane tech park bangalore , office space leased 2020 ( 6 ) 72000 ( 1 ) size represents the amount of space leased or owned by us unless otherwise noted .", "( 2 ) the initial lease expires in 2032 with two consecutive options to extend the term for five years each .", "( 3 ) the initial lease expires in 2027 and contains options to extend the term and expand the premises .", "( 4 ) the initial lease expires in 2028 and contains options to extend the term and expand the premises .", "in 2019 , the premises will be reduced to 225000 square feet .", "( 5 ) in march 2016 , the company sold its datacenter in the chicago area for $ 130.0 million .", "at the time of the sale , the company leased back a portion of the property .", "( 6 ) the initial lease expires in 2020 and contains an option to extend the term as well as an option to terminate early .", "item 3 .", "legal proceedings see 201clegal and regulatory matters 201d in note 12 .", "contingencies to the consolidated financial statements beginning on page 87 for cme group 2019s legal proceedings disclosure which is incorporated herein by reference .", "item 4 .", "mine safety disclosures not applicable. ." ]

[ [ "Location", "Primary Use", "Owned/Leased", "Lease Expiration", "Approximate Size(in square feet)⁽¹⁾" ], [ "20 South Wacker Drive Chicago, Illinois", "Global headquarters and office space", "Leased", "2032⁽²⁾", "512,000" ], [ "141 West JacksonChicago, Illinois", "Trading floor and office space", "Leased", "2027⁽³⁾", "150,000" ], [ "333 S. LaSalleChicago, Illinois", "Trading floor and office space", "Owned", "N/A", "300,000" ], [ "550 West WashingtonChicago, Illinois", "Office space", "Leased", "2023", "250,000" ], [ "One North EndNew York, New York", "Trading floor and office space", "Leased", "2028⁽⁴⁾", "240,000" ], [ "One New Change London", "Office space", "Leased", "2026", "58,000" ], [ "Data Center 3Chicagoland area", "Business continuity and co-location", "Leased", "2031⁽⁵⁾", "83,000" ], [ "Bagmane Tech Park Bangalore, India", "Office space", "Leased", "2020⁽⁶⁾", "72,000" ] ]

[ [ "location", "primary use", "owned/leased", "lease expiration", "approximate size ( in square feet ) ( 1 )" ], [ "20 south wacker drive chicago illinois", "global headquarters and office space", "leased", "2032 ( 2 )", "512000" ], [ "141 west jacksonchicago illinois", "trading floor and office space", "leased", "2027 ( 3 )", "150000" ], [ "333 s . lasallechicago illinois", "trading floor and office space", "owned", "n/a", "300000" ], [ "550 west washingtonchicago illinois", "office space", "leased", "2023", "250000" ], [ "one north endnew york new york", "trading floor and office space", "leased", "2028 ( 4 )", "240000" ], [ "one new change london", "office space", "leased", "2026", "58000" ], [ "data center 3chicagoland area", "business continuity and co-location", "leased", "2031 ( 5 )", "83000" ], [ "bagmane tech park bangalore india", "office space", "leased", "2020 ( 6 )", "72000" ] ]

[ { "arg1": "225000", "arg2": "240000", "op": "minus1-1", "res": "-15000" }, { "arg1": "#0", "arg2": "240000", "op": "divide1-2", "res": "-6.3%" } ]

[ "building .", "the construction of the building was completed in december 2003 .", "due to lower than expected financing and construction costs , the final lease balance was lowered to $ 103.0 million .", "as part of the agreement , we entered into a five-year lease that began upon the completion of the building .", "at the end of the lease term , we can purchase the building for the lease balance , remarket or relinquish the building .", "if we choose to remarket or are required to do so upon relinquishing the building , we are bound to arrange the sale of the building to an unrelated party and will be required to pay the lessor any shortfall between the net remarketing proceeds and the lease balance , up to the maximum recourse amount of $ 90.8 million ( 201cresidual value guarantee 201d ) .", "see note 14 in our notes to consolidated financial statements for further information .", "in august 1999 , we entered into a five-year lease agreement for our other two office buildings that currently serve as our corporate headquarters in san jose , california .", "under the agreement , we have the option to purchase the buildings at any time during the lease term for the lease balance , which is approximately $ 142.5 million .", "we are in the process of evaluating alternative financing methods at expiration of the lease in fiscal 2004 and believe that several suitable financing options will be available to us .", "at the end of the lease term , we can purchase the buildings for the lease balance , remarket or relinquish the buildings .", "if we choose to remarket or are required to do so upon relinquishing the buildings , we are bound to arrange the sale of the buildings to an unrelated party and will be required to pay the lessor any shortfall between the net remarketing proceeds and the lease balance , up to the maximum recourse amount of $ 132.6 million ( 201cresidual value guarantee 201d ) .", "for further information , see note 14 in our notes to consolidated financial statements .", "the two lease agreements discussed above are subject to standard financial covenants .", "the agreements limit the amount of indebtedness we can incur .", "a leverage covenant requires us to keep our debt to ebitda ratio less than 2.5:1.0 .", "as of november 28 , 2003 , our debt to ebitda ratio was 0.53:1.0 , well within the limit .", "we also have a liquidity covenant which requires us to maintain a quick ratio equal to or greater than 1.0 .", "as of november 28 , 2003 , our quick ratio was 2.2 , well above the minimum .", "we expect to remain within compliance in the next 12 months .", "we are comfortable with these limitations and believe they will not impact our cash or credit in the coming year or restrict our ability to execute our business plan .", "the following table summarizes our contractual commitments as of november 28 , 2003 : less than over total 1 year 1 2013 3 years 3-5 years 5 years non-cancelable operating leases , net of sublease income ................ .", "$ 83.9 $ 23.6 $ 25.9 $ 16.3 $ 18.1 indemnifications in the normal course of business , we provide indemnifications of varying scope to customers against claims of intellectual property infringement made by third parties arising from the use of our products .", "historically , costs related to these indemnification provisions have not been significant and we are unable to estimate the maximum potential impact of these indemnification provisions on our future results of operations .", "we have commitments to make certain milestone and/or retention payments typically entered into in conjunction with various acquisitions , for which we have made accruals in our consolidated financial statements .", "in connection with our purchases of technology assets during fiscal 2003 , we entered into employee retention agreements totaling $ 2.2 million .", "we are required to make payments upon satisfaction of certain conditions in the agreements .", "as permitted under delaware law , we have agreements whereby we indemnify our officers and directors for certain events or occurrences while the officer or director is , or was serving , at our request in such capacity .", "the indemnification period covers all pertinent events and occurrences during the officer 2019s or director 2019s lifetime .", "the maximum potential amount of future payments we could be required to make under these indemnification agreements is unlimited ; however , we have director and officer insurance coverage that limits our exposure and enables us to recover a portion of any future amounts paid .", "we believe the estimated fair value of these indemnification agreements in excess of applicable insurance coverage is minimal. ." ]

[ "building .", "the construction of the building was completed in december 2003 .", "due to lower than expected financing and construction costs , the final lease balance was lowered to $ 103.0 million .", "as part of the agreement , we entered into a five-year lease that began upon the completion of the building .", "at the end of the lease term , we can purchase the building for the lease balance , remarket or relinquish the building .", "if we choose to remarket or are required to do so upon relinquishing the building , we are bound to arrange the sale of the building to an unrelated party and will be required to pay the lessor any shortfall between the net remarketing proceeds and the lease balance , up to the maximum recourse amount of $ 90.8 million ( 201cresidual value guarantee 201d ) .", "see note 14 in our notes to consolidated financial statements for further information .", "in august 1999 , we entered into a five-year lease agreement for our other two office buildings that currently serve as our corporate headquarters in san jose , california .", "under the agreement , we have the option to purchase the buildings at any time during the lease term for the lease balance , which is approximately $ 142.5 million .", "we are in the process of evaluating alternative financing methods at expiration of the lease in fiscal 2004 and believe that several suitable financing options will be available to us .", "at the end of the lease term , we can purchase the buildings for the lease balance , remarket or relinquish the buildings .", "if we choose to remarket or are required to do so upon relinquishing the buildings , we are bound to arrange the sale of the buildings to an unrelated party and will be required to pay the lessor any shortfall between the net remarketing proceeds and the lease balance , up to the maximum recourse amount of $ 132.6 million ( 201cresidual value guarantee 201d ) .", "for further information , see note 14 in our notes to consolidated financial statements .", "the two lease agreements discussed above are subject to standard financial covenants .", "the agreements limit the amount of indebtedness we can incur .", "a leverage covenant requires us to keep our debt to ebitda ratio less than 2.5:1.0 .", "as of november 28 , 2003 , our debt to ebitda ratio was 0.53:1.0 , well within the limit .", "we also have a liquidity covenant which requires us to maintain a quick ratio equal to or greater than 1.0 .", "as of november 28 , 2003 , our quick ratio was 2.2 , well above the minimum .", "we expect to remain within compliance in the next 12 months .", "we are comfortable with these limitations and believe they will not impact our cash or credit in the coming year or restrict our ability to execute our business plan .", "the following table summarizes our contractual commitments as of november 28 , 2003 : less than over total 1 year 1 2013 3 years 3-5 years 5 years non-cancelable operating leases , net of sublease income ................ .", "$ 83.9 $ 23.6 $ 25.9 $ 16.3 $ 18.1 indemnifications in the normal course of business , we provide indemnifications of varying scope to customers against claims of intellectual property infringement made by third parties arising from the use of our products .", "historically , costs related to these indemnification provisions have not been significant and we are unable to estimate the maximum potential impact of these indemnification provisions on our future results of operations .", "we have commitments to make certain milestone and/or retention payments typically entered into in conjunction with various acquisitions , for which we have made accruals in our consolidated financial statements .", "in connection with our purchases of technology assets during fiscal 2003 , we entered into employee retention agreements totaling $ 2.2 million .", "we are required to make payments upon satisfaction of certain conditions in the agreements .", "as permitted under delaware law , we have agreements whereby we indemnify our officers and directors for certain events or occurrences while the officer or director is , or was serving , at our request in such capacity .", "the indemnification period covers all pertinent events and occurrences during the officer 2019s or director 2019s lifetime .", "the maximum potential amount of future payments we could be required to make under these indemnification agreements is unlimited ; however , we have director and officer insurance coverage that limits our exposure and enables us to recover a portion of any future amounts paid .", "we believe the estimated fair value of these indemnification agreements in excess of applicable insurance coverage is minimal. ." ]

[ [ "", "Total", "Less than 1 year", "1-3 years", "3-5 years", "Over 5 years" ], [ "Non-cancelable operating leases, net of sublease income", "$83.9", "$23.6", "$25.9", "$16.3", "$18.1" ] ]

[ [ "", "total", "less than 1 year", "1-3 years", "3-5 years", "over 5 years" ], [ "non-cancelable operating leases net of sublease income", "$ 83.9", "$ 23.6", "$ 25.9", "$ 16.3", "$ 18.1" ] ]

[]

[ "notes to consolidated financial statements 2014 ( continued ) becton , dickinson and company ( b ) these reclassifications were recorded to interest expense and cost of products sold .", "additional details regarding the company's cash flow hedges are provided in note 13 .", "on august 25 , 2016 , in anticipation of proceeds to be received from the divestiture of the respiratory solutions business in the first quarter of fiscal year 2017 , the company entered into an accelerated share repurchase ( \"asr\" ) agreement .", "subsequent to the end of the company's fiscal year 2016 and as per the terms of the asr agreement , the company received approximately 1.3 million shares of its common stock , which was recorded as a $ 220 million increase to common stock in treasury .", "note 4 2014 earnings per share the weighted average common shares used in the computations of basic and diluted earnings per share ( shares in thousands ) for the years ended september 30 were as follows: ." ]

[ "average common and common equivalent shares outstanding 2014 assuming dilution 217536 207509 197709 upon closing the acquisition of carefusion corporation ( 201ccarefusion 201d ) on march 17 , 2015 , the company issued approximately 15.9 million of its common shares as part of the purchase consideration .", "additional disclosures regarding this acquisition are provided in note 9 .", "options to purchase shares of common stock are excluded from the calculation of diluted earnings per share when their inclusion would have an anti-dilutive effect on the calculation .", "for the years ended september 30 , 2016 , 2015 and 2014 there were no options to purchase shares of common stock which were excluded from the diluted earnings per share calculation. ." ]

[ [ "", "2016", "2015", "2014" ], [ "Average common shares outstanding", "212,702", "202,537", "193,299" ], [ "Dilutive share equivalents from share-based plans", "4,834", "4,972", "4,410" ], [ "Average common and common equivalent shares outstanding — assuming dilution", "217,536", "207,509", "197,709" ] ]

[ [ "", "2016", "2015", "2014" ], [ "average common shares outstanding", "212702", "202537", "193299" ], [ "dilutive share equivalents from share-based plans", "4834", "4972", "4410" ], [ "average common and common equivalent shares outstanding 2014 assuming dilution", "217536", "207509", "197709" ] ]

[]

[ "( 2 ) in 2013 , our principal u.k subsidiary agreed with the trustees of one of the u.k .", "plans to contribute an average of $ 11 million per year to that pension plan for the next three years .", "the trustees of the plan have certain rights to request that our u.k .", "subsidiary advance an amount equal to an actuarially determined winding-up deficit .", "as of december 31 , 2015 , the estimated winding-up deficit was a3240 million ( $ 360 million at december 31 , 2015 exchange rates ) .", "the trustees of the plan have accepted in practice the agreed-upon schedule of contributions detailed above and have not requested the winding-up deficit be paid .", "( 3 ) purchase obligations are defined as agreements to purchase goods and services that are enforceable and legally binding on us , and that specifies all significant terms , including what is to be purchased , at what price and the approximate timing of the transaction .", "most of our purchase obligations are related to purchases of information technology services or other service contracts .", "( 4 ) excludes $ 12 million of unfunded commitments related to an investment in a limited partnership due to our inability to reasonably estimate the period ( s ) when the limited partnership will request funding .", "( 5 ) excludes $ 218 million of liabilities for uncertain tax positions due to our inability to reasonably estimate the period ( s ) when potential cash settlements will be made .", "financial condition at december 31 , 2015 , our net assets were $ 6.2 billion , representing total assets minus total liabilities , a decrease from $ 6.6 billion at december 31 , 2014 .", "the decrease was due primarily to share repurchases of $ 1.6 billion , dividends of $ 323 million , and an increase in accumulated other comprehensive loss of $ 289 million related primarily to an increase in the post- retirement benefit obligation , partially offset by net income of $ 1.4 billion for the year ended december 31 , 2015 .", "working capital increased by $ 77 million from $ 809 million at december 31 , 2014 to $ 886 million at december 31 , 2015 .", "accumulated other comprehensive loss increased $ 289 million at december 31 , 2015 as compared to december 31 , 2014 , which was primarily driven by the following : 2022 negative net foreign currency translation adjustments of $ 436 million , which are attributable to the strengthening of the u.s .", "dollar against certain foreign currencies , 2022 a decrease of $ 155 million in net post-retirement benefit obligations , and 2022 net financial instrument losses of $ 8 million .", "review by segment general we serve clients through the following segments : 2022 risk solutions acts as an advisor and insurance and reinsurance broker , helping clients manage their risks , via consultation , as well as negotiation and placement of insurance risk with insurance carriers through our global distribution network .", "2022 hr solutions partners with organizations to solve their most complex benefits , talent and related financial challenges , and improve business performance by designing , implementing , communicating and administering a wide range of human capital , retirement , investment management , health care , compensation and talent management strategies .", "risk solutions ." ]

[ "the demand for property and casualty insurance generally rises as the overall level of economic activity increases and generally falls as such activity decreases , affecting both the commissions and fees generated by our brokerage business .", "the economic activity that impacts property and casualty insurance is described as exposure units , and is most closely correlated ." ]

[ [ "Years ended December 31(millions, except percentage data)", "2015", "2014", "2013" ], [ "Revenue", "$7,426", "$7,834", "$7,789" ], [ "Operating income", "1,506", "1,648", "1,540" ], [ "Operating margin", "20.3%", "21.0%", "19.8%" ] ]

[ [ "years ended december 31 ( millions except percentage data )", "2015", "2014", "2013" ], [ "revenue", "$ 7426", "$ 7834", "$ 7789" ], [ "operating income", "1506", "1648", "1540" ], [ "operating margin", "20.3% ( 20.3 % )", "21.0% ( 21.0 % )", "19.8% ( 19.8 % )" ] ]

[]

[ "acquisition added approximately 1700 water customers and nearly 2000 wastewater customers .", "the tex as assets served approximately 4200 water and 1100 wastewater customers in the greater houston metropolitan as noted above , as a result of these sales , these regulated subsidiaries are presented as discontinued operations for all periods presented .", "therefore , the amounts , statistics and tables presented in this section refer only to on-going operations , unless otherwise noted .", "the following table sets forth our regulated businesses operating revenue for 2013 and number of customers from continuing operations as well as an estimate of population served as of december 31 , 2013 : operating revenues ( in millions ) % ( % ) of total number of customers % ( % ) of total estimated population served ( in millions ) % ( % ) of total ." ]

[ "( a ) includes illinois-american water company , which we refer to as ilawc and american lake water company , also a regulated subsidiary in illinois .", "( b ) west virginia-american water company , which we refer to as wvawc , and its subsidiary bluefield valley water works company .", "( c ) includes data from our operating subsidiaries in the following states : georgia , hawaii , iowa , kentucky , maryland , michigan , new york , tennessee , and virginia .", "approximately 87.5 % ( % ) of operating revenue from our regulated businesses in 2013 was generated from approximately 2.7 million customers in our seven largest states , as measured by operating revenues .", "in fiscal year 2013 , no single customer accounted for more than 10% ( 10 % ) of our annual operating revenue .", "overview of networks , facilities and water supply our regulated businesses operate in approximately 1500 communities in 16 states in the united states .", "our primary operating assets include 87 dams along with approximately 80 surface water treatment plants , 500 groundwater treatment plants , 1000 groundwater wells , 100 wastewater treatment facilities , 1200 treated water storage facilities , 1300 pumping stations , and 47000 miles of mains and collection pipes .", "our regulated utilities own substantially all of the assets used by our regulated businesses .", "we generally own the land and physical assets used to store , extract and treat source water .", "typically , we do not own the water itself , which is held in public trust and is allocated to us through contracts and allocation rights granted by federal and state agencies or through the ownership of water rights pursuant to local law .", "maintaining the reliability of our networks is a key activity of our regulated businesses .", "we have ongoing infrastructure renewal programs in all states in which our regulated businesses operate .", "these programs consist of both rehabilitation of existing mains and replacement of mains that have reached the end of their useful service lives .", "our ability to meet the existing and future water demands of our customers depends on an adequate supply of water .", "drought , governmental restrictions , overuse of sources of water , the protection of threatened species or ." ]

[ [ "", "OperatingRevenues(In millions)", "% of Total", "Number ofCustomers", "% of Total", "EstimatedPopulationServed(In millions)", "% of Total" ], [ "New Jersey", "$638.0", "24.6%", "647,168", "20.1%", "2.5", "21.7%" ], [ "Pennsylvania", "571.2", "22.0%", "666,947", "20.7%", "2.1", "18.3%" ], [ "Missouri", "264.8", "10.2%", "464,232", "14.4%", "1.5", "13.1%" ], [ "Illinois (a)", "261.7", "10.1%", "311,464", "9.7%", "1.2", "10.4%" ], [ "California", "209.5", "8.1%", "173,986", "5.4%", "0.6", "5.2%" ], [ "Indiana", "199.2", "7.7%", "293,345", "9.1%", "1.2", "10.4%" ], [ "West Virginia (b)", "124.2", "4.8%", "173,208", "5.4%", "0.6", "5.2%" ], [ "Subtotal (Top Seven States)", "2,268.6", "87.5%", "2,730,350", "84.8%", "9.7", "84.3%" ], [ "Other (c)", "325.3", "12.5%", "489,149", "15.2%", "1.8", "15.7%" ], [ "Total Regulated Businesses", "$2,593.9", "100.0%", "3,219,499", "100.0%", "11.5", "100.0%" ] ]

[ [ "new jersey", "operatingrevenues ( in millions ) $ 638.0", "% ( % ) of total 24.6% ( 24.6 % )", "number ofcustomers 647168", "% ( % ) of total 20.1% ( 20.1 % )", "estimatedpopulationserved ( in millions ) 2.5", "% ( % ) of total 21.7% ( 21.7 % )" ], [ "pennsylvania", "571.2", "22.0% ( 22.0 % )", "666947", "20.7% ( 20.7 % )", "2.1", "18.3% ( 18.3 % )" ], [ "missouri", "264.8", "10.2% ( 10.2 % )", "464232", "14.4% ( 14.4 % )", "1.5", "13.1% ( 13.1 % )" ], [ "illinois ( a )", "261.7", "10.1% ( 10.1 % )", "311464", "9.7% ( 9.7 % )", "1.2", "10.4% ( 10.4 % )" ], [ "california", "209.5", "8.1% ( 8.1 % )", "173986", "5.4% ( 5.4 % )", "0.6", "5.2% ( 5.2 % )" ], [ "indiana", "199.2", "7.7% ( 7.7 % )", "293345", "9.1% ( 9.1 % )", "1.2", "10.4% ( 10.4 % )" ], [ "west virginia ( b )", "124.2", "4.8% ( 4.8 % )", "173208", "5.4% ( 5.4 % )", "0.6", "5.2% ( 5.2 % )" ], [ "subtotal ( top seven states )", "2268.6", "87.5% ( 87.5 % )", "2730350", "84.8% ( 84.8 % )", "9.7", "84.3% ( 84.3 % )" ], [ "other ( c )", "325.3", "12.5% ( 12.5 % )", "489149", "15.2% ( 15.2 % )", "1.8", "15.7% ( 15.7 % )" ], [ "total regulated businesses", "$ 2593.9", "100.0% ( 100.0 % )", "3219499", "100.0% ( 100.0 % )", "11.5", "100.0% ( 100.0 % )" ] ]

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[ "at december 31 , 2013 , total future minimum commitments under existing non-cancelable operating leases and purchase obligations were as follows: ." ]

[ "( a ) includes $ 3.3 billion relating to fiber supply agreements entered into at the time of the company 2019s 2006 transformation plan forestland sales and in conjunction with the 2008 acquisition of weyerhaeuser company 2019s containerboard , packaging and recycling business .", "rent expense was $ 215 million , $ 231 million and $ 205 million for 2013 , 2012 and 2011 , respectively .", "guarantees in connection with sales of businesses , property , equipment , forestlands and other assets , international paper commonly makes representations and warranties relating to such businesses or assets , and may agree to indemnify buyers with respect to tax and environmental liabilities , breaches of representations and warranties , and other matters .", "where liabilities for such matters are determined to be probable and subject to reasonable estimation , accrued liabilities are recorded at the time of sale as a cost of the transaction .", "environmental proceedings international paper has been named as a potentially responsible party in environmental remediation actions under various federal and state laws , including the comprehensive environmental response , compensation and liability act ( cercla ) .", "many of these proceedings involve the cleanup of hazardous substances at large commercial landfills that received waste from many different sources .", "while joint and several liability is authorized under cercla and equivalent state laws , as a practical matter , liability for cercla cleanups is typically allocated among the many potential responsible parties .", "remedial costs are recorded in the consolidated financial statements when they become probable and reasonably estimable .", "international paper has estimated the probable liability associated with these matters to be approximately $ 94 million in the aggregate at december 31 , 2013 .", "cass lake : one of the matters referenced above is a closed wood treating facility located in cass lake , minnesota .", "during 2009 , in connection with an environmental site remediation action under cercla , international paper submitted to the epa a site remediation feasibility study .", "in june 2011 , the epa selected and published a proposed soil remedy at the site with an estimated cost of $ 46 million .", "the overall remediation reserve for the site is currently $ 51 million to address this selection of an alternative for the soil remediation component of the overall site remedy .", "in october 2011 , the epa released a public statement indicating that the final soil remedy decision would be delayed .", "in the unlikely event that the epa changes its proposed soil remedy and approves instead a more expensive clean-up alternative , the remediation costs could be material , and significantly higher than amounts currently recorded .", "in october 2012 , the natural resource trustees for this site provided notice to international paper and other potentially responsible parties of their intent to perform a natural resource damage assessment .", "it is premature to predict the outcome of the assessment or to estimate a loss or range of loss , if any , which may be incurred .", "other : in addition to the above matters , other remediation costs typically associated with the cleanup of hazardous substances at the company 2019s current , closed or formerly-owned facilities , and recorded as liabilities in the balance sheet , totaled approximately $ 42 million at december 31 , 2013 .", "other than as described above , completion of required remedial actions is not expected to have a material effect on our consolidated financial statements .", "kalamazoo river : the company is a potentially responsible party with respect to the allied paper , inc./ portage creek/kalamazoo river superfund site ( kalamazoo river superfund site ) in michigan .", "the epa asserts that the site is contaminated primarily by pcbs as a result of discharges from various paper mills located along the kalamazoo river , including a paper mill formerly owned by st .", "regis paper company ( st .", "regis ) .", "the company is a successor in interest to st .", "regis .", "the company has not received any orders from the epa with respect to the site and continues to collect information from the epa and other parties relative to the site to evaluate the extent of its liability , if any , with respect to the site .", "accordingly , it is premature to estimate a loss or range of loss with respect to this site .", "also in connection with the kalamazoo river superfund site , the company was named as a defendant by georgia-pacific consumer products lp , fort james corporation and georgia pacific llc in a contribution and cost recovery action for alleged pollution at the site .", "the suit seeks contribution under cercla for $ 79 million in costs purportedly expended by plaintiffs as of the filing of the complaint and for future remediation costs .", "the suit alleges that a mill , during the time it was allegedly owned and operated by st .", "regis , discharged pcb contaminated solids and paper residuals resulting from paper de-inking and recycling .", "also named as defendants in the suit are ncr corporation and weyerhaeuser company .", "in mid-2011 , the suit was transferred from the district court for the eastern district of wisconsin to the district court for the western ." ]

[ [ "In millions", "2014", "2015", "2016", "2017", "2018", "Thereafter" ], [ "Lease obligations", "$171", "$133", "$97", "$74", "$59", "$162" ], [ "Purchase obligations (a)", "3,170", "770", "642", "529", "453", "2,404" ], [ "Total", "$3,341", "$903", "$739", "$603", "$512", "$2,566" ] ]

[ [ "in millions", "2014", "2015", "2016", "2017", "2018", "thereafter" ], [ "lease obligations", "$ 171", "$ 133", "$ 97", "$ 74", "$ 59", "$ 162" ], [ "purchase obligations ( a )", "3170", "770", "642", "529", "453", "2404" ], [ "total", "$ 3341", "$ 903", "$ 739", "$ 603", "$ 512", "$ 2566" ] ]

[ { "arg1": "215", "arg2": "231", "op": "add2-1", "res": "446" }, { "arg1": "205", "arg2": "#0", "op": "add2-2", "res": "651" } ]

[ "depending upon our senior unsecured debt ratings .", "the facilities require the maintenance of a minimum net worth and a debt to net worth coverage ratio .", "at december 31 , 2006 , we were in compliance with these covenants .", "the facilities do not include any other financial restrictions , credit rating triggers ( other than rating-dependent pricing ) , or any other provision that could require the posting of collateral .", "in addition to our revolving credit facilities , we had $ 150 million in uncommitted lines of credit available , including $ 75 million that expires in march 2007 and $ 75 million expiring in may 2007 .", "neither of these lines of credit were used as of december 31 , 2006 .", "we must have equivalent credit available under our five-year facilities to draw on these $ 75 million lines .", "dividend restrictions 2013 we are subject to certain restrictions related to the payment of cash dividends to our shareholders due to minimum net worth requirements under the credit facilities referred to above .", "the amount of retained earnings available for dividends was $ 7.8 billion and $ 6.2 billion at december 31 , 2006 and 2005 , respectively .", "we do not expect that these restrictions will have a material adverse effect on our consolidated financial condition , results of operations , or liquidity .", "we declared dividends of $ 323 million in 2006 and $ 316 million in 2005 .", "shelf registration statement 2013 under a current shelf registration statement , we may issue any combination of debt securities , preferred stock , common stock , or warrants for debt securities or preferred stock in one or more offerings .", "at december 31 , 2006 , we had $ 500 million remaining for issuance under the current shelf registration statement .", "we have no immediate plans to issue any securities ; however , we routinely consider and evaluate opportunities to replace existing debt or access capital through issuances of debt securities under this shelf registration , and , therefore , we may issue debt securities at any time .", "6 .", "leases we lease certain locomotives , freight cars , and other property .", "future minimum lease payments for operating and capital leases with initial or remaining non-cancelable lease terms in excess of one year as of december 31 , 2006 were as follows : millions of dollars operating leases capital leases ." ]

[ "rent expense for operating leases with terms exceeding one month was $ 798 million in 2006 , $ 728 million in 2005 , and $ 651 million in 2004 .", "when cash rental payments are not made on a straight-line basis , we recognize variable rental expense on a straight-line basis over the lease term .", "contingent rentals and sub-rentals are not significant. ." ]

[ [ "<i>Millions of Dollars</i>", "<i>OperatingLeases</i>", "Capital Leases" ], [ "2007", "$624", "$180" ], [ "2008", "546", "173" ], [ "2009", "498", "168" ], [ "2010", "456", "148" ], [ "2011", "419", "157" ], [ "Later Years", "2,914", "1,090" ], [ "Total minimum lease payments", "$5,457", "$1,916" ], [ "Amount representing interest", "N/A", "(680)" ], [ "Present value of minimum lease payments", "N/A", "$1,236" ] ]

[ [ "millions of dollars", "operatingleases", "capital leases" ], [ "2007", "$ 624", "$ 180" ], [ "2008", "546", "173" ], [ "2009", "498", "168" ], [ "2010", "456", "148" ], [ "2011", "419", "157" ], [ "later years", "2914", "1090" ], [ "total minimum lease payments", "$ 5457", "$ 1916" ], [ "amount representing interest", "n/a", "-680 ( 680 )" ], [ "present value of minimum lease payments", "n/a", "$ 1236" ] ]

[ { "arg1": "5457", "arg2": "1916", "op": "add1-1", "res": "7373" }, { "arg1": "5457", "arg2": "#0", "op": "divide1-2", "res": "74%" } ]

[ "brokerage and asset management brokerage and asset management ( bam ) , which constituted approximately 6% ( 6 % ) of citi holdings by assets as of december 31 , 2009 , consists of citi 2019s global retail brokerage and asset management businesses .", "this segment was substantially affected and reduced in size in 2009 due to the divestitures of smith barney ( to the morgan stanley smith barney joint venture ( mssb jv ) ) and nikko cordial securities .", "at december 31 , 2009 , bam had approximately $ 35 billion of assets , which included $ 26 billion of assets from the 49% ( 49 % ) interest in the mssb jv ( $ 13 billion investment and $ 13 billion in loans associated with the clients of the mssb jv ) and $ 9 billion of assets from a diverse set of asset management and insurance businesses of which approximately half will be transferred into the latam rcb during the first quarter of 2010 , as discussed under 201cciti holdings 201d above .", "morgan stanley has options to purchase citi 2019s remaining stake in the mssb jv over three years starting in 2012 .", "the 2009 results include an $ 11.1 billion gain ( $ 6.7 billion after-tax ) on the sale of smith barney .", "in millions of dollars 2009 2008 2007 % ( % ) change 2009 vs .", "2008 % ( % ) change 2008 vs .", "2007 ." ]

[ "nm not meaningful 2009 vs .", "2008 revenues , net of interest expense increased 80% ( 80 % ) versus the prior year mainly driven by the $ 11.1 billion pretax gain on the sale ( $ 6.7 billion after-tax ) on the mssb jv transaction in the second quarter of 2009 and a $ 320 million pretax gain on the sale of the managed futures business to the mssb jv in the third quarter of 2009 .", "excluding these gains , revenue decreased primarily due to the absence of smith barney from may 2009 onwards and the absence of fourth-quarter revenue of nikko asset management , partially offset by an improvement in marks in retail alternative investments .", "revenues in the prior year include a $ 347 million pretax gain on sale of citistreet and charges related to the settlement of auction rate securities of $ 393 million pretax .", "operating expenses decreased 64% ( 64 % ) from the prior year , mainly driven by the absence of smith barney and nikko asset management expenses , re- engineering efforts and the absence of 2008 one-time expenses ( $ 0.9 billion intangible impairment , $ 0.2 billion of restructuring and $ 0.5 billion of write- downs and other charges ) .", "provisions for loan losses and for benefits and claims decreased 15% ( 15 % ) mainly reflecting a $ 50 million decrease in provision for benefits and claims , partially offset by increased reserve builds of $ 28 million .", "assets decreased 40% ( 40 % ) versus the prior year , mostly driven by the sales of nikko cordial securities and nikko asset management ( $ 25 billion ) and the managed futures business ( $ 1.4 billion ) , partially offset by increased smith barney assets of $ 4 billion .", "2008 vs .", "2007 revenues , net of interest expense decreased 21% ( 21 % ) from the prior year primarily due to lower transactional and investment revenues in smith barney , lower revenues in nikko asset management and higher markdowns in retail alternative investments .", "operating expenses increased 16% ( 16 % ) versus the prior year , mainly driven by a $ 0.9 billion intangible impairment in nikko asset management in the fourth quarter of 2008 , $ 0.2 billion of restructuring charges and $ 0.5 billion of write-downs and other charges .", "provisions for loan losses and for benefits and claims increased $ 65 million compared to the prior year , mainly due to a $ 52 million increase in provisions for benefits and claims .", "assets increased 4% ( 4 % ) versus the prior year. ." ]

[ [ "In millions of dollars", "2009", "2008", "2007", "% Change 2009 vs. 2008", "% Change 2008 vs. 2007" ], [ "Net interest revenue", "$432", "$1,224", "$908", "(65)%", "35%" ], [ "Non-interest revenue", "14,703", "7,199", "9,751", "NM", "(26)" ], [ "Total revenues, net of interest expense", "$15,135", "$8,423", "$10,659", "80%", "(21)%" ], [ "Total operating expenses", "$3,350", "$9,236", "$7,960", "(64)%", "16%" ], [ "Net credit losses", "$3", "$10", "$—", "(70)%", "—" ], [ "Credit reserve build/(release)", "36", "8", "4", "NM", "100%" ], [ "Provision for unfunded lending commitments", "(5)", "—", "—", "—", "—" ], [ "Provision for benefits and claims", "$155", "$205", "$154", "(24)%", "33%" ], [ "Provisions for loan losses and for benefits and claims", "$189", "$223", "$158", "(15)%", "41%" ], [ "Income (loss) from continuing operations before taxes", "$11,596", "$(1,036)", "$2,541", "NM", "NM" ], [ "Income taxes (benefits)", "4,489", "(272)", "834", "NM", "NM" ], [ "Income (loss) from continuing operations", "$7,107", "$(764)", "$1,707", "NM", "NM" ], [ "Net income (loss) attributable to noncontrolling interests", "12", "(179)", "35", "NM", "NM" ], [ "Net income (loss)", "$7,095", "$(585)", "$1,672", "NM", "NM" ], [ "EOP assets(in billions of dollars)", "$35", "$58", "$56", "(40)%", "4%" ], [ "EOP deposits(in billions of dollars)", "60", "58", "46", "3", "26" ] ]

[ [ "in millions of dollars", "2009", "2008", "2007", "% ( % ) change 2009 vs . 2008", "% ( % ) change 2008 vs . 2007" ], [ "net interest revenue", "$ 432", "$ 1224", "$ 908", "( 65 ) % ( % )", "35% ( 35 % )" ], [ "non-interest revenue", "14703", "7199", "9751", "nm", "-26 ( 26 )" ], [ "total revenues net of interest expense", "$ 15135", "$ 8423", "$ 10659", "80% ( 80 % )", "( 21 ) % ( % )" ], [ "total operating expenses", "$ 3350", "$ 9236", "$ 7960", "( 64 ) % ( % )", "16% ( 16 % )" ], [ "net credit losses", "$ 3", "$ 10", "$ 2014", "( 70 ) % ( % )", "2014" ], [ "credit reserve build/ ( release )", "36", "8", "4", "nm", "100% ( 100 % )" ], [ "provision for unfunded lending commitments", "-5 ( 5 )", "2014", "2014", "2014", "2014" ], [ "provision for benefits and claims", "$ 155", "$ 205", "$ 154", "( 24 ) % ( % )", "33% ( 33 % )" ], [ "provisions for loan losses and for benefits and claims", "$ 189", "$ 223", "$ 158", "( 15 ) % ( % )", "41% ( 41 % )" ], [ "income ( loss ) from continuing operations before taxes", "$ 11596", "$ -1036 ( 1036 )", "$ 2541", "nm", "nm" ], [ "income taxes ( benefits )", "4489", "-272 ( 272 )", "834", "nm", "nm" ], [ "income ( loss ) from continuing operations", "$ 7107", "$ -764 ( 764 )", "$ 1707", "nm", "nm" ], [ "net income ( loss ) attributable to noncontrolling interests", "12", "-179 ( 179 )", "35", "nm", "nm" ], [ "net income ( loss )", "$ 7095", "$ -585 ( 585 )", "$ 1672", "nm", "nm" ], [ "eop assets ( in billions of dollars )", "$ 35", "$ 58", "$ 56", "( 40 ) % ( % )", "4% ( 4 % )" ], [ "eop deposits ( in billions of dollars )", "60", "58", "46", "3", "26" ] ]

[]

[ "entergy corporation and subsidiaries notes to financial statements ( a ) consists of pollution control revenue bonds and environmental revenue bonds .", "( b ) the bonds are secured by a series of collateral first mortgage bonds .", "( c ) in december 2005 , entergy corporation sold 10 million equity units with a stated amount of $ 50 each .", "an equity unit consisted of ( 1 ) a note , initially due february 2011 and initially bearing interest at an annual rate of 5.75% ( 5.75 % ) , and ( 2 ) a purchase contract that obligated the holder of the equity unit to purchase for $ 50 between 0.5705 and 0.7074 shares of entergy corporation common stock on or before february 17 , 2009 .", "entergy paid the holders quarterly contract adjustment payments of 1.875% ( 1.875 % ) per year on the stated amount of $ 50 per equity unit .", "under the terms of the purchase contracts , entergy attempted to remarket the notes in february 2009 but was unsuccessful , the note holders put the notes to entergy , entergy retired the notes , and entergy issued 6598000 shares of common stock in the settlement of the purchase contracts .", "( d ) pursuant to the nuclear waste policy act of 1982 , entergy's nuclear owner/licensee subsidiaries have contracts with the doe for spent nuclear fuel disposal service .", "the contracts include a one-time fee for generation prior to april 7 , 1983 .", "entergy arkansas is the only entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee , plus accrued interest , in long-term ( e ) the fair value excludes lease obligations , long-term doe obligations , and the note payable to nypa , and includes debt due within one year .", "it is determined using bid prices reported by dealer markets and by nationally recognized investment banking firms .", "( f ) entergy gulf states louisiana remains primarily liable for all of the long-term debt issued by entergy gulf states , inc .", "that was outstanding on december 31 , 2008 and 2007 .", "under a debt assumption agreement with entergy gulf states louisiana , entergy texas assumed approximately 46% ( 46 % ) of this long-term debt .", "the annual long-term debt maturities ( excluding lease obligations ) for debt outstanding as of december 31 , 2008 , for the next five years are as follows : amount ( in thousands ) ." ]

[ "in november 2000 , entergy's non-utility nuclear business purchased the fitzpatrick and indian point 3 power plants in a seller-financed transaction .", "entergy issued notes to nypa with seven annual installments of approximately $ 108 million commencing one year from the date of the closing , and eight annual installments of $ 20 million commencing eight years from the date of the closing .", "these notes do not have a stated interest rate , but have an implicit interest rate of 4.8% ( 4.8 % ) .", "in accordance with the purchase agreement with nypa , the purchase of indian point 2 in 2001 resulted in entergy's non-utility nuclear business becoming liable to nypa for an additional $ 10 million per year for 10 years , beginning in september 2003 .", "this liability was recorded upon the purchase of indian point 2 in september 2001 , and is included in the note payable to nypa balance above .", "in july 2003 , a payment of $ 102 million was made prior to maturity on the note payable to nypa .", "under a provision in a letter of credit supporting these notes , if certain of the utility operating companies or system energy were to default on other indebtedness , entergy could be required to post collateral to support the letter of credit .", "covenants in the entergy corporation notes require it to maintain a consolidated debt ratio of 65% ( 65 % ) or less of its total capitalization .", "if entergy's debt ratio exceeds this limit , or if entergy or certain of the utility operating companies default on other indebtedness or are in bankruptcy or insolvency proceedings , an acceleration of the notes' maturity dates may occur .", "entergy gulf states louisiana , entergy louisiana , entergy mississippi , entergy texas , and system energy have received ferc long-term financing orders authorizing long-term securities issuances .", "entergy arkansas has ." ]

[ [ "", "Amount (In Thousands)" ], [ "2009", "$516,019" ], [ "2010", "$763,036" ], [ "2011", "$897,367" ], [ "2012", "$3,625,459" ], [ "2013", "$579,461" ] ]

[ [ "", "amount ( in thousands )" ], [ "2009", "$ 516019" ], [ "2010", "$ 763036" ], [ "2011", "$ 897367" ], [ "2012", "$ 3625459" ], [ "2013", "$ 579461" ] ]

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[ "the years ended december 31 , 2008 , 2007 and 2006 , due to ineffectiveness and amounts excluded from the assessment of hedge effectiveness , was not significant .", "for contracts outstanding at december 31 , 2008 , we have an obligation to purchase u.s .", "dollars and sell euros , japanese yen , british pounds , canadian dollars , australian dollars and korean won and purchase swiss francs and sell u.s .", "dollars at set maturity dates ranging from january 2009 through june 2011 .", "the notional amounts of outstanding forward contracts entered into with third parties to purchase u.s .", "dollars at december 31 , 2008 were $ 1343.0 million .", "the notional amounts of outstanding forward contracts entered into with third parties to purchase swiss francs at december 31 , 2008 were $ 207.5 million .", "the fair value of outstanding derivative instruments recorded on the balance sheet at december 31 , 2008 , together with settled derivatives where the hedged item has not yet affected earnings , was a net unrealized gain of $ 32.7 million , or $ 33.0 million net of taxes , which is deferred in other comprehensive income , of which $ 16.4 million , or $ 17.9 million , net of taxes , is expected to be reclassified to earnings over the next twelve months .", "we also enter into foreign currency forward exchange contracts with terms of one month to manage currency exposures for assets and liabilities denominated in a currency other than an entity 2019s functional currency .", "as a result , any foreign currency remeasurement gains/losses recognized in earnings under sfas no .", "52 , 201cforeign currency translation , 201d are generally offset with gains/losses on the foreign currency forward exchange contracts in the same reporting period .", "other comprehensive income 2013 other comprehensive income refers to revenues , expenses , gains and losses that under generally accepted accounting principles are included in comprehensive income but are excluded from net earnings as these amounts are recorded directly as an adjustment to stockholders 2019 equity .", "other comprehensive income is comprised of foreign currency translation adjustments , unrealized foreign currency hedge gains and losses , unrealized gains and losses on available-for-sale securities and amortization of prior service costs and unrecognized gains and losses in actuarial assumptions .", "in 2006 we adopted sfas 158 , 201cemployers 2019 accounting for defined benefit pension and other postretirement plans 2013 an amendment of fasb statements no .", "87 , 88 , 106 and 132 ( r ) . 201d this statement required recognition of the funded status of our benefit plans in the statement of financial position and recognition of certain deferred gains or losses in other comprehensive income .", "we recorded an unrealized loss of $ 35.4 million in other comprehensive income during 2006 related to the adoption of sfas 158 .", "the components of accumulated other comprehensive income are as follows ( in millions ) : balance at december 31 , comprehensive income ( loss ) balance at december 31 ." ]

[ "during 2008 , we reclassified an investment previously accounted for under the equity method to an available-for-sale investment as we no longer exercised significant influence over the third-party investee .", "the investment was marked-to- market in accordance with sfas 115 , 201caccounting for certain investments in debt and equity securities , 201d resulting in a net unrealized gain of $ 23.8 million recorded in other comprehensive income for 2008 .", "this unrealized gain was reclassified to the income statement when we sold this investment in 2008 for total proceeds of $ 54.9 million and a gross realized gain of $ 38.8 million included in interest and other income .", "the basis of these securities was determined based on the consideration paid at the time of acquisition .", "treasury stock 2013 we account for repurchases of common stock under the cost method and present treasury stock as a reduction of shareholders equity .", "we may reissue common stock held in treasury only for limited purposes .", "accounting pronouncements 2013 in september 2006 , the fasb issued sfas no .", "157 , 201cfair value measurements , 201d which defines fair value , establishes a framework for measuring fair value in generally accepted accounting principles and expands disclosures about fair value measurements .", "this statement does not require any new fair value measurements , but provides guidance on how to measure fair value by providing a fair value hierarchy used to classify the source of the information .", "sfas no .", "157 is effective for financial statements issued for fiscal years beginning after november 15 , 2007 and interim periods within those fiscal years .", "in february 2008 , the fasb issued fasb staff position ( fsp ) no .", "sfas 157-2 , which delays the effective date of certain provisions of sfas no .", "157 relating to non-financial assets and liabilities measured at fair value on a non-recurring basis until fiscal years beginning after november 15 , 2008 .", "the full adoption of sfas no .", "157 is not expected to have a material impact on our consolidated financial statements or results of operations .", "z i m m e r h o l d i n g s , i n c .", "2 0 0 8 f o r m 1 0 - k a n n u a l r e p o r t notes to consolidated financial statements ( continued ) %%transmsg*** transmitting job : c48761 pcn : 046000000 ***%%pcmsg|46 |00009|yes|no|02/24/2009 19:24|0|0|page is valid , no graphics -- color : d| ." ]

[ [ "", "Balance at December 31, 2007", "Other Comprehensive Income (Loss)", "Balance at December 31, 2008" ], [ "Foreign currency translation", "$368.8", "$(49.4)", "$319.4" ], [ "Foreign currency hedges", "(45.4)", "78.4", "33.0" ], [ "Unrealized gain/(loss) on securities", "(1.9)", "0.6", "(1.3)" ], [ "Unrecognized prior service cost and unrecognized gain/(loss) in actuarial assumptions", "(31.2)", "(79.9)", "(111.1)" ], [ "Accumulated other comprehensive income", "$290.3", "$(50.3)", "$240.0" ] ]

[ [ "", "balance at december 31 2007", "other comprehensive income ( loss )", "balance at december 31 2008" ], [ "foreign currency translation", "$ 368.8", "$ -49.4 ( 49.4 )", "$ 319.4" ], [ "foreign currency hedges", "-45.4 ( 45.4 )", "78.4", "33.0" ], [ "unrealized gain/ ( loss ) on securities", "-1.9 ( 1.9 )", "0.6", "-1.3 ( 1.3 )" ], [ "unrecognized prior service cost and unrecognized gain/ ( loss ) in actuarial assumptions", "-31.2 ( 31.2 )", "-79.9 ( 79.9 )", "-111.1 ( 111.1 )" ], [ "accumulated other comprehensive income", "$ 290.3", "$ -50.3 ( 50.3 )", "$ 240.0" ] ]

[ { "arg1": "111.1", "arg2": "240.0", "op": "add2-1", "res": "351.1" }, { "arg1": "#0", "arg2": "240.0", "op": "divide2-2", "res": "1.4629" }, { "arg1": "#1", "arg2": "const_1", "op": "minus2-3", "res": ".4629" } ]

[ "compared to 2007 .", "we reduced personal injury expense by $ 80 million in 2007 as a result of fewer than expected claims and lower than expected average settlement costs .", "in 2008 , we reduced personal injury expense and asbestos-related costs $ 82 million based on the results of updated personal injury actuarial studies and a reassessment of our potential liability for resolution of current and future asbestos claims .", "in addition , environmental and toxic tort expenses were $ 7 million lower in 2008 compared to 2007 .", "other costs were lower in 2007 compared to 2006 driven primarily by a reduction in personal injury expense .", "actuarial studies completed during 2007 resulted in a reduction in personal injury expense of $ 80 million , which was partially offset by an adverse development with respect to one claim .", "settlement of insurance claims in 2007 related to hurricane rita , and higher equity income also drove expenses lower in 2007 versus 2006 .", "conversely , the year-over-year comparison was affected by the settlement of insurance claims totaling $ 23 million in 2006 related to the january 2005 west coast storm and a $ 9 million gain in 2006 from the sale of two company-owned airplanes .", "non-operating items millions of dollars 2008 2007 2006 % ( % ) change 2008 v 2007 % ( % ) change 2007 v 2006 ." ]

[ "other income 2013 other income decreased in 2008 compared to 2007 due to lower gains from real estate sales and decreased returns on cash investments reflecting lower interest rates .", "higher rental and licensing income and lower interest expense on our sale of receivables program partially offset the decreases .", "lower net gains from non-operating asset sales ( primarily real estate ) drove the reduction in other income in 2007 .", "recognition of rental income in 2006 from the settlement of a rent dispute also contributed to the year-over-year decrease in other income .", "cash investment returns increased $ 21 million due to larger cash balances and higher interest rates .", "interest expense 2013 interest expense increased in 2008 versus 2007 due to a higher weighted-average debt level of $ 8.3 billion , compared to $ 7.3 billion in 2007 .", "a lower effective interest rate of 6.1% ( 6.1 % ) in 2008 , compared to 6.6% ( 6.6 % ) in 2007 , partially offset the effects of the higher weighted-average debt level .", "an increase in the weighted-average debt levels to $ 7.3 billion from $ 7.1 billion in 2006 generated higher interest expense in 2007 .", "a lower effective interest rate of 6.6% ( 6.6 % ) in 2007 , compared to 6.7% ( 6.7 % ) in 2006 , partially offset the effects of the higher debt level .", "income taxes 2013 income taxes were higher in 2008 compared to 2007 , driven by higher pre-tax income .", "our effective tax rates were 36.1% ( 36.1 % ) and 38.4% ( 38.4 % ) in 2008 and 2007 , respectively .", "the lower effective tax rate in 2008 resulted from several reductions in tax expense related to federal audits and state tax law changes .", "in addition , the effective tax rate in 2007 was increased by illinois legislation that increased deferred tax expense in the third quarter of 2007 .", "income taxes were $ 235 million higher in 2007 compared to 2006 , due primarily to higher pre-tax income and the effect of new tax legislation in the state of illinois that changed how we determine the amount of our income subject to illinois tax .", "the illinois legislation increased our deferred tax expense by $ 27 million in 2007 .", "our effective tax rates were 38.4% ( 38.4 % ) and 36.4% ( 36.4 % ) in 2007 and 2006 , respectively. ." ]

[ [ "<i>Millions of Dollars</i>", "2008", "2007", "2006", "<i>% Change 2008 v 2007</i>", "<i>% Change 2007 v 2006</i>" ], [ "Other income", "$92", "$116", "$118", "(21)%", "(2)%" ], [ "Interest expense", "(511)", "(482)", "(477)", "6", "1" ], [ "Income taxes", "(1,318)", "(1,154)", "(919)", "14 %", "26 %" ] ]

[ [ "millions of dollars", "2008", "2007", "2006", "% ( % ) change 2008 v 2007", "% ( % ) change 2007 v 2006" ], [ "other income", "$ 92", "$ 116", "$ 118", "( 21 ) % ( % )", "( 2 ) % ( % )" ], [ "interest expense", "-511 ( 511 )", "-482 ( 482 )", "-477 ( 477 )", "6", "1" ], [ "income taxes", "-1318 ( 1318 )", "-1154 ( 1154 )", "-919 ( 919 )", "14 % ( % )", "26 % ( % )" ] ]

[ { "arg1": "92", "arg2": "116", "op": "add2-1", "res": "208" }, { "arg1": "#0", "arg2": "118", "op": "add2-2", "res": "326" }, { "arg1": "#1", "arg2": "const_3", "op": "divide2-3", "res": "108.7" } ]

[ "the following table illustrates the effect that a 10% ( 10 % ) unfavorable or favorable movement in foreign currency exchange rates , relative to the u.s .", "dollar , would have on the fair value of our forward exchange contracts as of october 30 , 2010 and october 31 , 2009: ." ]

[ "fair value of forward exchange contracts after a 10% ( 10 % ) unfavorable movement in foreign currency exchange rates asset .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "$ 22062 $ 20132 fair value of forward exchange contracts after a 10% ( 10 % ) favorable movement in foreign currency exchange rates liability .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "$ ( 7396 ) $ ( 6781 ) the calculation assumes that each exchange rate would change in the same direction relative to the u.s .", "dollar .", "in addition to the direct effects of changes in exchange rates , such changes typically affect the volume of sales or the foreign currency sales price as competitors 2019 products become more or less attractive .", "our sensitivity analysis of the effects of changes in foreign currency exchange rates does not factor in a potential change in sales levels or local currency selling prices. ." ]

[ [ "", "October 30, 2010", "October 31, 2009" ], [ "Fair value of forward exchange contracts asset", "$7,256", "$8,367" ], [ "Fair value of forward exchange contracts after a 10% unfavorable movement in foreign currency exchange rates asset", "$22,062", "$20,132" ], [ "Fair value of forward exchange contracts after a 10% favorable movement in foreign currency exchange rates liability", "$(7,396)", "$(6,781)" ] ]

[ [ "", "october 30 2010", "october 31 2009" ], [ "fair value of forward exchange contracts asset", "$ 7256", "$ 8367" ], [ "fair value of forward exchange contracts after a 10% ( 10 % ) unfavorable movement in foreign currency exchange rates asset", "$ 22062", "$ 20132" ], [ "fair value of forward exchange contracts after a 10% ( 10 % ) favorable movement in foreign currency exchange rates liability", "$ -7396 ( 7396 )", "$ -6781 ( 6781 )" ] ]

[ { "arg1": "7256", "arg2": "8367", "op": "minus1-1", "res": "-1111" }, { "arg1": "#0", "arg2": "8367", "op": "divide1-2", "res": "-13.3%" } ]

[ "transfer agent and registrar for common stock the transfer agent and registrar for our common stock is : computershare shareowner services llc 480 washington boulevard 29th floor jersey city , new jersey 07310 telephone : ( 877 ) 363-6398 sales of unregistered securities not applicable .", "repurchase of equity securities the following table provides information regarding our purchases of our equity securities during the period from october 1 , 2015 to december 31 , 2015 .", "total number of shares ( or units ) purchased 1 average price paid per share ( or unit ) 2 total number of shares ( or units ) purchased as part of publicly announced plans or programs 3 maximum number ( or approximate dollar value ) of shares ( or units ) that may yet be purchased under the plans or programs 3 ." ]

[ "1 included shares of our common stock , par value $ 0.10 per share , withheld under the terms of grants under employee stock-based compensation plans to offset tax withholding obligations that occurred upon vesting and release of restricted shares ( the 201cwithheld shares 201d ) .", "we repurchased 1004 withheld shares in october 2015 , 1777 withheld shares in november 2015 and 9342 withheld shares in december 2015 .", "2 the average price per share for each of the months in the fiscal quarter and for the three-month period was calculated by dividing the sum of the applicable period of the aggregate value of the tax withholding obligations and the aggregate amount we paid for shares acquired under our stock repurchase program , described in note 5 to the consolidated financial statements , by the sum of the number of withheld shares and the number of shares acquired in our stock repurchase program .", "3 in february 2015 , the board authorized a share repurchase program to repurchase from time to time up to $ 300.0 million , excluding fees , of our common stock ( the 201c2015 share repurchase program 201d ) .", "on february 12 , 2016 , we announced that our board had approved a new share repurchase program to repurchase from time to time up to $ 300.0 million , excluding fees , of our common stock .", "the new authorization is in addition to any amounts remaining for repurchase under the 2015 share repurchase program .", "there is no expiration date associated with the share repurchase programs. ." ]

[ [ "", "Total Number ofShares (or Units)Purchased¹", "Average Price Paidper Share (or Unit)²", "Total Number ofShares (or Units)Purchased as Part ofPublicly AnnouncedPlans or Programs³", "Maximum Number (or Approximate Dollar Value) of Shares (or Units) that May Yet Be Purchased Under the Plans or Programs³" ], [ "October 1 - 31", "2,140,511", "$20.54", "2,139,507", "$227,368,014" ], [ "November 1 - 30", "1,126,378", "$22.95", "1,124,601", "$201,557,625" ], [ "December 1 - 31", "1,881,992", "$22.97", "1,872,650", "$158,553,178" ], [ "Total", "5,148,881", "$21.96", "5,136,758", "" ] ]

[ [ "", "total number ofshares ( or units ) purchased1", "average price paidper share ( or unit ) 2", "total number ofshares ( or units ) purchased as part ofpublicly announcedplans or programs3", "maximum number ( or approximate dollar value ) of shares ( or units ) that may yet be purchased under the plans or programs3" ], [ "october 1 - 31", "2140511", "$ 20.54", "2139507", "$ 227368014" ], [ "november 1 - 30", "1126378", "$ 22.95", "1124601", "$ 201557625" ], [ "december 1 - 31", "1881992", "$ 22.97", "1872650", "$ 158553178" ], [ "total", "5148881", "$ 21.96", "5136758", "" ] ]

[ { "arg1": "2140511", "arg2": "1126378", "op": "add1-1", "res": "3366889" }, { "arg1": "#0", "arg2": "2", "op": "divide1-2", "res": "1683444.5" } ]

[ "the internal revenue code .", "therefore , cash needed to execute our strategy and invest in new properties , as well as to pay our debt at maturity , must come from one or more of the following sources : 2022 cash not distributed to shareholders , 2022 proceeds of property dispositions , or 2022 proceeds derived from the issuance of new debt or equity securities .", "it is management 2019s intention that we continually have access to the capital resources necessary to expand and develop our business .", "as a result , we intend to operate with and maintain a conservative capital structure that will allow us to maintain strong debt service coverage and fixed-charge coverage ratios as part of our commitment to investment-grade debt ratings .", "we may , from time to time , seek to obtain funds by the following means : 2022 additional equity offerings , 2022 unsecured debt financing and/or mortgage financings , and 2022 other debt and equity alternatives , including formation of joint ventures , in a manner consistent with our intention to operate with a conservative debt structure .", "cash and cash equivalents were $ 30.5 million and $ 35.0 million at december 31 , 2004 and december 31 , 2003 , respectively .", "summary of cash flows for the year ended december 31 , 2004 ( in thousands ) ." ]

[ "the cash provided by operating activities is primarily attributable to the operation of our properties and the change in working capital related to our operations .", "we used cash of $ 154.3 million during the twelve months ended december 31 , 2004 in investing activities , including the following : 2022 $ 101.7 million for our acquisition of westgate mall , shaw 2019s plaza and several parcels of land , 2022 capital expenditures of $ 59.2 million for development and redevelopment of properties including santana row , 2022 maintenance capital expenditures of approximately $ 36.9 million , 2022 $ 9.4 million capital contribution to a real estate partnership , and 2022 an additional $ 3.2 million net advance under an existing mortgage note receivable ; offset by 2022 $ 41.8 million in net sale proceeds from the sale of properties , and ." ]

[ [ "", "For the year ended December 31, 2004 (In thousands)" ], [ "Cash provided by operating activities", "$161,113" ], [ "Cash used in investing activities", "(154,273)" ], [ "Cash used by financing activities", "(11,333)" ], [ "Decrease in cash and cash equivalents", "(4,493)" ], [ "Cash and cash equivalents, beginning of period", "34,968" ], [ "Cash and cash equivalents, end of period", "$30,475" ] ]

[ [ "", "for the year ended december 31 2004 ( in thousands )" ], [ "cash provided by operating activities", "$ 161113" ], [ "cash used in investing activities", "-154273 ( 154273 )" ], [ "cash used by financing activities", "-11333 ( 11333 )" ], [ "decrease in cash and cash equivalents", "-4493 ( 4493 )" ], [ "cash and cash equivalents beginning of period", "34968" ], [ "cash and cash equivalents end of period", "$ 30475" ] ]

[]

[ "american tower corporation and subsidiaries notes to consolidated financial statements the following table summarizes the preliminary allocation of the aggregate purchase consideration paid and the amounts of assets acquired and liabilities assumed based upon their estimated fair value at the date of acquisition ( in thousands ) : preliminary purchase price allocation ." ]

[ "( 1 ) consists of customer-related intangibles of approximately $ 80.0 million and network location intangibles of approximately $ 38.0 million .", "the customer-related intangibles and network location intangibles are being amortized on a straight-line basis over periods of up to 20 years .", "( 2 ) the company expects that the goodwill recorded will be deductible for tax purposes .", "the goodwill was allocated to the company 2019s international rental and management segment .", "ghana acquisition 2014on december 6 , 2010 , the company entered into a definitive agreement with mtn group limited ( 201cmtn group 201d ) to establish a joint venture in ghana .", "the joint venture is controlled by a holding company of which a wholly owned subsidiary of the company ( the 201catc ghana subsidiary 201d ) holds a 51% ( 51 % ) interest and mobile telephone networks ( netherlands ) b.v. , a wholly owned subsidiary of mtn group ( the 201cmtn ghana subsidiary 201d ) holds a 49% ( 49 % ) interest .", "the joint venture is managed and controlled by the company and owns a tower operations company in ghana .", "pursuant to the agreement , on may 6 , 2011 , august 11 , 2011 and december 23 , 2011 , the joint venture acquired 400 , 770 and 686 communications sites , respectively , from mtn group 2019s operating subsidiary in ghana for an aggregate purchase price of $ 515.6 million ( including contingent consideration of $ 2.3 million and value added tax of $ 65.6 million ) .", "the aggregate purchase price was subsequently increased to $ 517.7 million ( including contingent consideration of $ 2.3 million and value added tax of $ 65.6 million ) after certain post-closing adjustments .", "under the terms of the purchase agreement , legal title to certain of the communications sites acquired on december 23 , 2011 will be transferred upon fulfillment of certain conditions by mtn group .", "prior to the fulfillment of these conditions , the company will operate and maintain control of these communications sites , and accordingly , reflect these sites in the allocation of purchase price and the consolidated operating results .", "in december 2011 , the company signed an amendment to its agreement with mtn group , which requires the company to make additional payments upon the conversion of certain barter agreements with other wireless carriers to cash-paying master lease agreements .", "the company currently estimates the fair value of remaining potential contingent consideration payments required to be made under the amended agreement to be between zero and $ 1.0 million and is estimated to be $ 0.9 million using a probability weighted average of the expected outcomes at december 31 , 2012 .", "the company has previously made payments under this arrangement of $ 2.6 million .", "during the year ended december 31 , 2012 , the company recorded an increase in fair value of $ 0.4 million as other operating expenses in the consolidated statements of operations. ." ]

[ [ "", "Preliminary Purchase Price Allocation" ], [ "Non-current assets", "$24,460" ], [ "Property and equipment", "138,959" ], [ "Intangible assets (1)", "117,990" ], [ "Other non-current liabilities", "(18,195)" ], [ "Fair value of net assets acquired", "$263,214" ], [ "Goodwill (2)", "47,481" ] ]

[ [ "", "preliminary purchase price allocation" ], [ "non-current assets", "$ 24460" ], [ "property and equipment", "138959" ], [ "intangible assets ( 1 )", "117990" ], [ "other non-current liabilities", "-18195 ( 18195 )" ], [ "fair value of net assets acquired", "$ 263214" ], [ "goodwill ( 2 )", "47481" ] ]

[ { "arg1": "80.0", "arg2": "38.0", "op": "add1-1", "res": "118" }, { "arg1": "#0", "arg2": "20", "op": "divide1-2", "res": "5.8" } ]

[ "a summary of the company 2019s significant contractual obligations as of december 31 , 2015 , follows : contractual obligations ." ]

[ "long-term debt payments due in 2016 and 2017 include floating rate notes totaling $ 126 million ( classified as current portion of long-term debt ) , and $ 96 million ( included as a separate floating rate note in the long-term debt table ) , respectively , as a result of put provisions associated with these debt instruments .", "interest projections on both floating and fixed rate long-term debt , including the effects of interest rate swaps , are based on effective interest rates as of december 31 , 2015 .", "unconditional purchase obligations are defined as an agreement to purchase goods or services that is enforceable and legally binding on the company .", "included in the unconditional purchase obligations category above are certain obligations related to take or pay contracts , capital commitments , service agreements and utilities .", "these estimates include both unconditional purchase obligations with terms in excess of one year and normal ongoing purchase obligations with terms of less than one year .", "many of these commitments relate to take or pay contracts , in which 3m guarantees payment to ensure availability of products or services that are sold to customers .", "the company expects to receive consideration ( products or services ) for these unconditional purchase obligations .", "contractual capital commitments are included in the preceding table , but these commitments represent a small part of the company 2019s expected capital spending in 2016 and beyond .", "the purchase obligation amounts do not represent the entire anticipated purchases in the future , but represent only those items for which the company is contractually obligated .", "the majority of 3m 2019s products and services are purchased as needed , with no unconditional commitment .", "for this reason , these amounts will not provide a reliable indicator of the company 2019s expected future cash outflows on a stand-alone basis .", "other obligations , included in the preceding table within the caption entitled 201cunconditional purchase obligations and other , 201d include the current portion of the liability for uncertain tax positions under asc 740 , which is expected to be paid out in cash in the next 12 months .", "the company is not able to reasonably estimate the timing of the long-term payments or the amount by which the liability will increase or decrease over time ; therefore , the long-term portion of the net tax liability of $ 208 million is excluded from the preceding table .", "refer to note 8 for further details .", "as discussed in note 11 , the company does not have a required minimum cash pension contribution obligation for its u.s .", "plans in 2016 and company contributions to its u.s .", "and international pension plans are expected to be largely discretionary in future years ; therefore , amounts related to these plans are not included in the preceding table .", "financial instruments the company enters into foreign exchange forward contracts , options and swaps to hedge against the effect of exchange rate fluctuations on cash flows denominated in foreign currencies and certain intercompany financing transactions .", "the company manages interest rate risks using a mix of fixed and floating rate debt .", "to help manage borrowing costs , the company may enter into interest rate swaps .", "under these arrangements , the company agrees to exchange , at specified intervals , the difference between fixed and floating interest amounts calculated by reference to an agreed-upon notional principal amount .", "the company manages commodity price risks through negotiated supply contracts , price protection agreements and forward contracts. ." ]

[ [ "", "", "Payments due by year" ], [ "(Millions)", "Total", "2016", "2017", "2018", "2019", "2020", "After 2020" ], [ "Long-term debt, including current portion (Note 10)", "$9,878", "$1,125", "$744", "$993", "$622", "$1,203", "$5,191" ], [ "Interest on long-term debt", "2,244", "174", "157", "153", "149", "146", "1,465" ], [ "Operating leases (Note 14)", "943", "234", "191", "134", "86", "72", "226" ], [ "Capital leases (Note 14)", "59", "11", "6", "4", "3", "3", "32" ], [ "Unconditional purchase obligations and other", "1,631", "1,228", "160", "102", "54", "56", "31" ], [ "Total contractual cash obligations", "$14,755", "$2,772", "$1,258", "$1,386", "$914", "$1,480", "$6,945" ] ]

[ [ "( millions )", "total", "payments due by year 2016", "payments due by year 2017", "payments due by year 2018", "payments due by year 2019", "payments due by year 2020", "payments due by year after 2020" ], [ "long-term debt including current portion ( note 10 )", "$ 9878", "$ 1125", "$ 744", "$ 993", "$ 622", "$ 1203", "$ 5191" ], [ "interest on long-term debt", "2244", "174", "157", "153", "149", "146", "1465" ], [ "operating leases ( note 14 )", "943", "234", "191", "134", "86", "72", "226" ], [ "capital leases ( note 14 )", "59", "11", "6", "4", "3", "3", "32" ], [ "unconditional purchase obligations and other", "1631", "1228", "160", "102", "54", "56", "31" ], [ "total contractual cash obligations", "$ 14755", "$ 2772", "$ 1258", "$ 1386", "$ 914", "$ 1480", "$ 6945" ] ]

[]

[ "the company granted 1020 performance shares .", "the vesting of these shares is contingent on meeting stated goals over a performance period .", "beginning with restricted stock grants in september 2010 , dividends are accrued on restricted class a common stock and restricted stock units and are paid once the restricted stock vests .", "the following table summarizes restricted stock and performance shares activity for 2010 : number of shares weighted average grant date fair value ." ]

[ "the total fair value of restricted stock that vested during the years ended december 31 , 2010 , 2009 and 2008 , was $ 10.3 million , $ 6.2 million and $ 2.5 million , respectively .", "eligible employees may acquire shares of cme group 2019s class a common stock using after-tax payroll deductions made during consecutive offering periods of approximately six months in duration .", "shares are purchased at the end of each offering period at a price of 90% ( 90 % ) of the closing price of the class a common stock as reported on the nasdaq .", "compensation expense is recognized on the dates of purchase for the discount from the closing price .", "in 2010 , 2009 and 2008 , a total of 4371 , 4402 and 5600 shares , respectively , of class a common stock were issued to participating employees .", "these shares are subject to a six-month holding period .", "annual expense of $ 0.1 million for the purchase discount was recognized in 2010 , 2009 and 2008 , respectively .", "non-executive directors receive an annual award of class a common stock with a value equal to $ 75000 .", "non-executive directors may also elect to receive some or all of the cash portion of their annual stipend , up to $ 25000 , in shares of stock based on the closing price at the date of distribution .", "as a result , 7470 , 11674 and 5509 shares of class a common stock were issued to non-executive directors during 2010 , 2009 and 2008 , respectively .", "these shares are not subject to any vesting restrictions .", "expense of $ 2.4 million , $ 2.5 million and $ 2.4 million related to these stock-based payments was recognized for the years ended december 31 , 2010 , 2009 and 2008 , respectively. ." ]

[ [ "", "Number of Shares", "Weighted Average Grant Date Fair Value" ], [ "Outstanding at December 31, 2009", "116,677", "$280" ], [ "Granted", "134,245", "275" ], [ "Vested", "(34,630)", "257" ], [ "Cancelled", "(19,830)", "260" ], [ "Outstanding at December 31, 2010", "196,462", "283" ] ]

[ [ "", "number of shares", "weighted average grant date fair value" ], [ "outstanding at december 31 2009", "116677", "$ 280" ], [ "granted", "134245", "275" ], [ "vested", "-34630 ( 34630 )", "257" ], [ "cancelled", "-19830 ( 19830 )", "260" ], [ "outstanding at december 31 2010", "196462", "283" ] ]

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[ "fidelity national information services , inc .", "and subsidiaries notes to consolidated financial statements - ( continued ) the following summarizes the aggregate maturities of our debt and capital leases on stated contractual maturities , excluding unamortized non-cash bond premiums and discounts net of $ 30 million as of december 31 , 2017 ( in millions ) : ." ]

[ "there are no mandatory principal payments on the revolving loan and any balance outstanding on the revolving loan will be due and payable at its scheduled maturity date , which occurs at august 10 , 2021 .", "fis may redeem the 2018 notes , 2020 notes , 2021 notes , 2021 euro notes , 2022 notes , 2022 gbp notes , 2023 notes , 2024 notes , 2024 euro notes , 2025 notes , 2026 notes , and 2046 notes at its option in whole or in part , at any time and from time to time , at a redemption price equal to the greater of 100% ( 100 % ) of the principal amount to be redeemed and a make-whole amount calculated as described in the related indenture in each case plus accrued and unpaid interest to , but excluding , the date of redemption , provided no make-whole amount will be paid for redemptions of the 2020 notes , the 2021 notes , the 2021 euro notes and the 2022 gbp notes during the one month prior to their maturity , the 2022 notes during the two months prior to their maturity , the 2023 notes , the 2024 notes , the 2024 euro notes , the 2025 notes , and the 2026 notes during the three months prior to their maturity , and the 2046 notes during the six months prior to their maturity .", "debt issuance costs of $ 53 million , net of accumulated amortization , remain capitalized as of december 31 , 2017 , related to all of the above outstanding debt .", "we monitor the financial stability of our counterparties on an ongoing basis .", "the lender commitments under the undrawn portions of the revolving loan are comprised of a diversified set of financial institutions , both domestic and international .", "the failure of any single lender to perform its obligations under the revolving loan would not adversely impact our ability to fund operations .", "the fair value of the company 2019s long-term debt is estimated to be approximately $ 156 million higher than the carrying value as of december 31 , 2017 .", "this estimate is based on quoted prices of our senior notes and trades of our other debt in close proximity to december 31 , 2017 , which are considered level 2-type measurements .", "this estimate is subjective in nature and involves uncertainties and significant judgment in the interpretation of current market data .", "therefore , the values presented are not necessarily indicative of amounts the company could realize or settle currently. ." ]

[ [ "", "Total" ], [ "2018", "$1,045" ], [ "2019", "44" ], [ "2020", "1,157" ], [ "2021", "1,546" ], [ "2022", "705" ], [ "Thereafter", "4,349" ], [ "Total principal payments", "8,846" ], [ "Debt issuance costs, net of accumulated amortization", "(53)" ], [ "Total long-term debt", "$8,793" ] ]

[ [ "", "total" ], [ "2018", "$ 1045" ], [ "2019", "44" ], [ "2020", "1157" ], [ "2021", "1546" ], [ "2022", "705" ], [ "thereafter", "4349" ], [ "total principal payments", "8846" ], [ "debt issuance costs net of accumulated amortization", "-53 ( 53 )" ], [ "total long-term debt", "$ 8793" ] ]

[]

[ "schlumberger limited and subsidiaries shares of common stock issued in treasury shares outstanding ( stated in millions ) ." ]

[ "see the notes to consolidated financial statements part ii , item 8 ." ]

[ [ "", "Issued", "In Treasury", "Shares Outstanding" ], [ "Balance, January 1, 2008", "1,334", "(138)", "1,196" ], [ "Shares sold to optionees less shares exchanged", "–", "5", "5" ], [ "Shares issued under employee stock purchase plan", "–", "2", "2" ], [ "Stock repurchase program", "–", "(21)", "(21)" ], [ "Issued on conversions of debentures", "–", "12", "12" ], [ "Balance, December 31, 2008", "1,334", "(140)", "1,194" ], [ "Shares sold to optionees less shares exchanged", "–", "4", "4" ], [ "Vesting of restricted stock", "–", "1", "1" ], [ "Shares issued under employee stock purchase plan", "–", "4", "4" ], [ "Stock repurchase program", "–", "(8)", "(8)" ], [ "Balance, December 31, 2009", "1,334", "(139)", "1,195" ], [ "Acquisition of Smith International, Inc.", "100", "76", "176" ], [ "Shares sold to optionees less shares exchanged", "–", "6", "6" ], [ "Shares issued under employee stock purchase plan", "–", "3", "3" ], [ "Stock repurchase program", "–", "(27)", "(27)" ], [ "Issued on conversions of debentures", "–", "8", "8" ], [ "Balance, December 31, 2010", "1,434", "(73)", "1,361" ] ]

[ [ "", "issued", "in treasury", "shares outstanding" ], [ "balance january 1 2008", "1334", "-138 ( 138 )", "1196" ], [ "shares sold to optionees less shares exchanged", "2013", "5", "5" ], [ "shares issued under employee stock purchase plan", "2013", "2", "2" ], [ "stock repurchase program", "2013", "-21 ( 21 )", "-21 ( 21 )" ], [ "issued on conversions of debentures", "2013", "12", "12" ], [ "balance december 31 2008", "1334", "-140 ( 140 )", "1194" ], [ "shares sold to optionees less shares exchanged", "2013", "4", "4" ], [ "vesting of restricted stock", "2013", "1", "1" ], [ "shares issued under employee stock purchase plan", "2013", "4", "4" ], [ "stock repurchase program", "2013", "-8 ( 8 )", "-8 ( 8 )" ], [ "balance december 31 2009", "1334", "-139 ( 139 )", "1195" ], [ "acquisition of smith international inc .", "100", "76", "176" ], [ "shares sold to optionees less shares exchanged", "2013", "6", "6" ], [ "shares issued under employee stock purchase plan", "2013", "3", "3" ], [ "stock repurchase program", "2013", "-27 ( 27 )", "-27 ( 27 )" ], [ "issued on conversions of debentures", "2013", "8", "8" ], [ "balance december 31 2010", "1434", "-73 ( 73 )", "1361" ] ]

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[ "38 2015 ppg annual report and form 10-k notes to the consolidated financial statements 1 .", "summary of significant accounting policies principles of consolidation the accompanying consolidated financial statements include the accounts of ppg industries , inc .", "( 201cppg 201d or the 201ccompany 201d ) and all subsidiaries , both u.s .", "and non-u.s. , that it controls .", "ppg owns more than 50% ( 50 % ) of the voting stock of most of the subsidiaries that it controls .", "for those consolidated subsidiaries in which the company 2019s ownership is less than 100% ( 100 % ) , the outside shareholders 2019 interests are shown as noncontrolling interests .", "investments in companies in which ppg owns 20% ( 20 % ) to 50% ( 50 % ) of the voting stock and has the ability to exercise significant influence over operating and financial policies of the investee are accounted for using the equity method of accounting .", "as a result , ppg 2019s share of the earnings or losses of such equity affiliates is included in the accompanying consolidated statement of income and ppg 2019s share of these companies 2019 shareholders 2019 equity is included in 201cinvestments 201d in the accompanying consolidated balance sheet .", "transactions between ppg and its subsidiaries are eliminated in consolidation .", "use of estimates in the preparation of financial statements the preparation of financial statements in conformity with u.s .", "generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements , as well as the reported amounts of income and expenses during the reporting period .", "such estimates also include the fair value of assets acquired and liabilities assumed resulting from the allocation of the purchase price related to business combinations consummated .", "actual outcomes could differ from those estimates .", "revenue recognition the company recognizes revenue when the earnings process is complete .", "revenue from sales is recognized by all operating segments when goods are shipped and title to inventory and risk of loss passes to the customer or when services have been rendered .", "shipping and handling costs amounts billed to customers for shipping and handling are reported in 201cnet sales 201d in the accompanying consolidated statement of income .", "shipping and handling costs incurred by the company for the delivery of goods to customers are included in 201ccost of sales , exclusive of depreciation and amortization 201d in the accompanying consolidated statement of income .", "selling , general and administrative costs amounts presented as 201cselling , general and administrative 201d in the accompanying consolidated statement of income are comprised of selling , customer service , distribution and advertising costs , as well as the costs of providing corporate- wide functional support in such areas as finance , law , human resources and planning .", "distribution costs pertain to the movement and storage of finished goods inventory at company- owned and leased warehouses , terminals and other distribution facilities .", "advertising costs advertising costs are expensed as incurred and totaled $ 324 million , $ 297 million and $ 235 million in 2015 , 2014 and 2013 , respectively .", "research and development research and development costs , which consist primarily of employee related costs , are charged to expense as incurred. ." ]

[ "legal costs legal costs , primarily include costs associated with acquisition and divestiture transactions , general litigation , environmental regulation compliance , patent and trademark protection and other general corporate purposes , are charged to expense as incurred .", "foreign currency translation the functional currency of most significant non-u.s .", "operations is their local currency .", "assets and liabilities of those operations are translated into u.s .", "dollars using year-end exchange rates ; income and expenses are translated using the average exchange rates for the reporting period .", "unrealized foreign currency translation adjustments are deferred in accumulated other comprehensive loss , a separate component of shareholders 2019 equity .", "cash equivalents cash equivalents are highly liquid investments ( valued at cost , which approximates fair value ) acquired with an original maturity of three months or less .", "short-term investments short-term investments are highly liquid , high credit quality investments ( valued at cost plus accrued interest ) that have stated maturities of greater than three months to one year .", "the purchases and sales of these investments are classified as investing activities in the consolidated statement of cash flows .", "marketable equity securities the company 2019s investment in marketable equity securities is recorded at fair market value and reported in 201cother current assets 201d and 201cinvestments 201d in the accompanying consolidated balance sheet with changes in fair market value recorded in income for those securities designated as trading securities and in other comprehensive income , net of tax , for those designated as available for sale securities. ." ]

[ [ "($ in millions)", "2015", "2014", "2013" ], [ "Research and development – total", "$505", "$509", "$479" ], [ "Less depreciation on research facilities", "19", "17", "16" ], [ "Research and development, net", "$486", "$492", "$463" ] ]

[ [ "( $ in millions )", "2015", "2014", "2013" ], [ "research and development 2013 total", "$ 505", "$ 509", "$ 479" ], [ "less depreciation on research facilities", "19", "17", "16" ], [ "research and development net", "$ 486", "$ 492", "$ 463" ] ]

[]

[ "in 2017 , the company granted 440076 shares of restricted class a common stock and 7568 shares of restricted stock units .", "restricted common stock and restricted stock units generally have a vesting period of two to four years .", "the fair value related to these grants was $ 58.7 million , which is recognized as compensation expense on an accelerated basis over the vesting period .", "dividends are accrued on restricted class a common stock and restricted stock units and are paid once the restricted stock vests .", "in 2017 , the company also granted 203298 performance shares .", "the fair value related to these grants was $ 25.3 million , which is recognized as compensation expense on an accelerated and straight-lined basis over the vesting period .", "the vesting of these shares is contingent on meeting stated performance or market conditions .", "the following table summarizes restricted stock , restricted stock units , and performance shares activity for 2017 : number of shares weighted average grant date fair value ." ]

[ "the total fair value of restricted stock , restricted stock units , and performance shares that vested during 2017 , 2016 and 2015 was $ 66.0 million , $ 59.8 million and $ 43.3 million , respectively .", "under the espp , eligible employees may acquire shares of class a common stock using after-tax payroll deductions made during consecutive offering periods of approximately six months in duration .", "shares are purchased at the end of each offering period at a price of 90% ( 90 % ) of the closing price of the class a common stock as reported on the nasdaq global select market .", "compensation expense is recognized on the dates of purchase for the discount from the closing price .", "in 2017 , 2016 and 2015 , a total of 19936 , 19858 and 19756 shares , respectively , of class a common stock were issued to participating employees .", "these shares are subject to a six-month holding period .", "annual expense of $ 0.3 million for the purchase discount was recognized in 2017 , and $ 0.2 million was recognized in both 2016 and 2015 .", "non-executive directors receive an annual award of class a common stock with a value equal to $ 100000 .", "non-executive directors may also elect to receive some or all of the cash portion of their annual stipend , up to $ 60000 , in shares of stock based on the closing price at the date of distribution .", "as a result , 19736 shares , 26439 shares and 25853 shares of class a common stock were issued to non-executive directors during 2017 , 2016 and 2015 , respectively .", "these shares are not subject to any vesting restrictions .", "expense of $ 2.5 million , $ 2.4 million and $ 2.5 million related to these stock-based payments was recognized for the years ended december 31 , 2017 , 2016 and 2015 , respectively. ." ]

[ [ "", "Number of Shares", "WeightedAverageGrant DateFair Value" ], [ "Outstanding at December 31, 2016", "1,820,578", "$98" ], [ "Granted", "650,942", "129" ], [ "Vested", "(510,590)", "87" ], [ "Cancelled", "(401,699)", "95" ], [ "Outstanding at December 31, 2017", "1,559,231", "116" ] ]

[ [ "", "number of shares", "weightedaveragegrant datefair value" ], [ "outstanding at december 31 2016", "1820578", "$ 98" ], [ "granted", "650942", "129" ], [ "vested", "-510590 ( 510590 )", "87" ], [ "cancelled", "-401699 ( 401699 )", "95" ], [ "outstanding at december 31 2017", "1559231", "116" ] ]

[]

[ "entergy new orleans , inc .", "management 2019s financial discussion and analysis also in addition to the contractual obligations , entergy new orleans has $ 53.7 million of unrecognized tax benefits and interest net of unused tax attributes and payments for which the timing of payments beyond 12 months cannot be reasonably estimated due to uncertainties in the timing of effective settlement of tax positions .", "see note 3 to the financial statements for additional information regarding unrecognized tax benefits .", "the planned capital investment estimate for entergy new orleans reflects capital required to support existing business .", "the estimated capital expenditures are subject to periodic review and modification and may vary based on the ongoing effects of regulatory constraints , environmental compliance , market volatility , economic trends , changes in project plans , and the ability to access capital .", "management provides more information on long-term debt and preferred stock maturities in notes 5 and 6 and to the financial statements .", "as an indirect , wholly-owned subsidiary of entergy corporation , entergy new orleans pays dividends from its earnings at a percentage determined monthly .", "entergy new orleans 2019s long-term debt indentures contain restrictions on the payment of cash dividends or other distributions on its common and preferred stock .", "sources of capital entergy new orleans 2019s sources to meet its capital requirements include : internally generated funds ; cash on hand ; and debt and preferred stock issuances .", "entergy new orleans may refinance , redeem , or otherwise retire debt and preferred stock prior to maturity , to the extent market conditions and interest and dividend rates are favorable .", "entergy new orleans 2019s receivables from 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 new orleans has obtained short-term borrowing authorization from the ferc under which it may borrow through october 2013 , up to the aggregate amount , at any one time outstanding , of $ 100 million .", "see note 4 to the financial statements for further discussion of entergy new orleans 2019s short-term borrowing limits .", "the long-term securities issuances of entergy new orleans are limited to amounts authorized by the city council , and the current authorization extends through july 2012 .", "entergy louisiana 2019s ninemile point unit 6 self-build project in june 2011 , entergy louisiana filed with the lpsc an application seeking certification that the public necessity and convenience would be served by entergy louisiana 2019s construction of a combined-cycle gas turbine generating facility ( ninemile 6 ) at its existing ninemile point electric generating station .", "ninemile 6 will be a nominally-sized 550 mw unit that is estimated to cost approximately $ 721 million to construct , excluding interconnection and transmission upgrades .", "entergy gulf states louisiana joined in the application , seeking certification of its purchase under a life-of-unit power purchase agreement of up to 35% ( 35 % ) of the capacity and energy generated by ninemile 6 .", "the ninemile 6 capacity and energy is proposed to be allocated 55% ( 55 % ) to entergy louisiana , 25% ( 25 % ) to entergy gulf states louisiana , and 20% ( 20 % ) to entergy new orleans .", "in february 2012 the city council passed a resolution authorizing entergy new orleans to purchase 20% ( 20 % ) of the ninemile 6 energy and capacity .", "if approvals are obtained from the lpsc and other permitting agencies , ninemile 6 construction is ." ]

[ [ "2011", "2010", "2009", "2008" ], [ "(In Thousands)" ], [ "$9,074", "$21,820", "$66,149", "$60,093" ] ]

[ [ "2011", "2010", "2009", "2008" ], [ "( in thousands )", "( in thousands )", "( in thousands )", "( in thousands )" ], [ "$ 9074", "$ 21820", "$ 66149", "$ 60093" ] ]

[]

[ "2015 compared to 2014 when compared to 2014 , costs of revenue in 2015 increased $ 41 million .", "this increase included a constant currency increase in expenses of approximately $ 238 million , or 8.9% ( 8.9 % ) , partially offset by a positive impact of approximately $ 197 million from the effects of foreign currency fluctuations .", "the constant currency growth was comprised of a $ 71 million increase in commercial solutions , which included the impact from the encore acquisition which closed in july 2014 , a $ 146 million increase in research & development solutions , which included the incremental impact from the businesses that quest contributed to q2 solutions , and a $ 21 million increase in integrated engagement services .", "the decrease in costs of revenue as a percent of revenues for 2015 was primarily as a result of an improvement in constant currency profit margin in the commercial solutions , research & development solutions and integrated engagement services segments ( as more fully described in the segment discussion later in this section ) .", "for 2015 , this constant currency profit margin expansion was partially offset by the effect from a higher proportion of consolidated revenues being contributed by our lower margin integrated engagement services segment when compared to 2014 as well as a negative impact from foreign currency fluctuations .", "selling , general and administrative expenses , exclusive of depreciation and amortization ." ]

[ "2016 compared to 2015 the $ 196 million increase in selling , general and administrative expenses in 2016 included a constant currency increase of $ 215 million , or 26.4% ( 26.4 % ) , partially offset by a positive impact of approximately $ 19 million from the effects of foreign currency fluctuations .", "the constant currency growth was comprised of a $ 151 million increase in commercial solutions , which includes $ 158 million from the merger with ims health , partially offset by a decline in the legacy service offerings , a $ 32 million increase in research & development solutions , which includes the incremental impact from the businesses that quest contributed to q2 solutions , a $ 3 million increase in integrated engagement services , and a $ 29 million increase in general corporate and unallocated expenses , which includes $ 37 million from the merger with ims health .", "the constant currency increase in general corporate and unallocated expenses in 2016 was primarily due to higher stock-based compensation expense .", "2015 compared to 2014 the $ 34 million increase in selling , general and administrative expenses in 2015 included a constant currency increase of $ 74 million , or 9.5% ( 9.5 % ) , partially offset by a positive impact of approximately $ 42 million from the effects of foreign currency fluctuations .", "the constant currency growth was comprised of a $ 14 million increase in commercial solutions , which included the impact from the encore acquisition which closed in july 2014 , a $ 40 million increase in research & development solutions , which included the incremental impact from the businesses that quest contributed to q2 solutions , a $ 4 million increase in integrated engagement services , and a $ 14 million increase in general corporate and unallocated expenses .", "the constant currency increase in general corporate and unallocated expenses in 2015 was primarily due to higher stock-based compensation expense and costs associated with the q2 solutions transaction. ." ]

[ [ "", "Year Ended December 31," ], [ "(dollars in millions)", "2016", "2015", "2014" ], [ "Selling, general and administrative expenses", "$1,011", "$815", "$781" ], [ "% of revenues", "18.8%", "18.8%", "18.8%" ] ]

[ [ "( dollars in millions )", "year ended december 31 , 2016", "year ended december 31 , 2015", "year ended december 31 , 2014" ], [ "selling general and administrative expenses", "$ 1011", "$ 815", "$ 781" ], [ "% ( % ) of revenues", "18.8% ( 18.8 % )", "18.8% ( 18.8 % )", "18.8% ( 18.8 % )" ] ]

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[ "for the year ended december 31 , 2005 , we realized net losses of $ 1 million on sales of available-for- sale securities .", "unrealized gains of $ 1 million were included in other comprehensive income at december 31 , 2004 , net of deferred taxes of less than $ 1 million , related to these sales .", "for the year ended december 31 , 2004 , we realized net gains of $ 26 million on sales of available-for- sale securities .", "unrealized gains of $ 11 million were included in other comprehensive income at december 31 , 2003 , net of deferred taxes of $ 7 million , related to these sales .", "note 13 .", "equity-based compensation the 2006 equity incentive plan was approved by shareholders in april 2006 , and 20000000 shares of common stock were approved for issuance for stock and stock-based awards , including stock options , stock appreciation rights , restricted stock , deferred stock and performance awards .", "in addition , up to 8000000 shares from our 1997 equity incentive plan , that were available to issue or become available due to cancellations and forfeitures , may be awarded under the 2006 plan .", "the 1997 plan expired on december 18 , 2006 .", "as of december 31 , 2006 , 1305420 shares from the 1997 plan have been added to and may be awarded from the 2006 plan .", "as of december 31 , 2006 , 106045 awards have been made under the 2006 plan .", "we have stock options outstanding from previous plans , including the 1997 plan , under which no further grants can be made .", "the exercise price of non-qualified and incentive stock options and stock appreciation rights may not be less than the fair value of such shares at the date of grant .", "stock options and stock appreciation rights issued under the 2006 plan and the prior 1997 plan generally vest over four years and expire no later than ten years from the date of grant .", "for restricted stock awards issued under the 2006 plan and the prior 1997 plan , stock certificates are issued at the time of grant and recipients have dividend and voting rights .", "in general , these grants vest over three years .", "for deferred stock awards issued under the 2006 plan and the prior 1997 plan , no stock is issued at the time of grant .", "generally , these grants vest over two- , three- or four-year periods .", "performance awards granted under the 2006 equity incentive plan and the prior 1997 plan are earned over a performance period based on achievement of goals , generally over two- to three- year periods .", "payment for performance awards is made in shares of our common stock or in cash equal to the fair market value of our common stock , based on certain financial ratios after the conclusion of each performance period .", "we record compensation expense , equal to the estimated fair value of the options on the grant date , on a straight-line basis over the options 2019 vesting period .", "we use a black-scholes option-pricing model to estimate the fair value of the options granted .", "the weighted-average assumptions used in connection with the option-pricing model were as follows for the years indicated. ." ]

[ "compensation expense related to stock options , stock appreciation rights , restricted stock awards , deferred stock awards and performance awards , which we record as a component of salaries and employee benefits expense in our consolidated statement of income , was $ 208 million , $ 110 million and $ 74 million for the years ended december 31 , 2006 , 2005 and 2004 , respectively .", "the related total income tax benefit recorded in our consolidated statement of income was $ 83 million , $ 44 million and $ 30 million for 2006 , 2005 and 2004 , respectively .", "seq 87 copyarea : 38 .", "x 54 .", "trimsize : 8.25 x 10.75 typeset state street corporation serverprocess c:\\\\fc\\\\delivery_1024177\\\\2771-1-do_p.pdf chksum : 0 cycle 1merrill corporation 07-2771-1 thu mar 01 17:11:13 2007 ( v 2.247w--stp1pae18 ) ." ]

[ [ "", "2006", "2005", "2004" ], [ "Dividend yield", "1.41%", "1.85%", "1.35%" ], [ "Expected volatility", "26.50", "28.70", "27.10" ], [ "Risk-free interest rate", "4.60", "4.19", "3.02" ], [ "Expected option lives (in years)", "7.8", "7.8", "5.0" ] ]

[ [ "", "2006", "2005", "2004" ], [ "dividend yield", "1.41% ( 1.41 % )", "1.85% ( 1.85 % )", "1.35% ( 1.35 % )" ], [ "expected volatility", "26.50", "28.70", "27.10" ], [ "risk-free interest rate", "4.60", "4.19", "3.02" ], [ "expected option lives ( in years )", "7.8", "7.8", "5.0" ] ]

[]

[ "new term loan a facility , with the remaining unpaid principal amount of loans under the new term loan a facility due and payable in full at maturity on june 6 , 2021 .", "principal amounts outstanding under the new revolving loan facility are due and payable in full at maturity on june 6 , 2021 , subject to earlier repayment pursuant to the springing maturity date described above .", "in addition to paying interest on outstanding principal under the borrowings , we are obligated to pay a quarterly commitment fee at a rate determined by reference to a total leverage ratio , with a maximum commitment fee of 40% ( 40 % ) of the applicable margin for eurocurrency loans .", "in july 2016 , breakaway four , ltd. , as borrower , and nclc , as guarantor , entered into a supplemental agreement , which amended the breakaway four loan to , among other things , increase the aggregate principal amount of commitments under the multi-draw term loan credit facility from 20ac590.5 million to 20ac729.9 million .", "in june 2016 , we took delivery of seven seas explorer .", "to finance the payment due upon delivery , we had export credit financing in place for 80% ( 80 % ) of the contract price .", "the associated $ 373.6 million term loan bears interest at 3.43% ( 3.43 % ) with a maturity date of june 30 , 2028 .", "principal and interest payments shall be paid semiannually .", "in december 2016 , nclc issued $ 700.0 million aggregate principal amount of 4.750% ( 4.750 % ) senior unsecured notes due december 2021 ( the 201cnotes 201d ) in a private offering ( the 201coffering 201d ) at par .", "nclc used the net proceeds from the offering , after deducting the initial purchasers 2019 discount and estimated fees and expenses , together with cash on hand , to purchase its outstanding 5.25% ( 5.25 % ) senior notes due 2019 having an aggregate outstanding principal amount of $ 680 million .", "the redemption of the 5.25% ( 5.25 % ) senior notes due 2019 was completed in january 2017 .", "nclc will pay interest on the notes at 4.750% ( 4.750 % ) per annum , semiannually on june 15 and december 15 of each year , commencing on june 15 , 2017 , to holders of record at the close of business on the immediately preceding june 1 and december 1 , respectively .", "nclc may redeem the notes , in whole or part , at any time prior to december 15 , 2018 , at a price equal to 100% ( 100 % ) of the principal amount of the notes redeemed plus accrued and unpaid interest to , but not including , the redemption date and a 201cmake-whole premium . 201d nclc may redeem the notes , in whole or in part , on or after december 15 , 2018 , at the redemption prices set forth in the indenture governing the notes .", "at any time ( which may be more than once ) on or prior to december 15 , 2018 , nclc may choose to redeem up to 40% ( 40 % ) of the aggregate principal amount of the notes at a redemption price equal to 104.750% ( 104.750 % ) of the face amount thereof with an amount equal to the net proceeds of one or more equity offerings , so long as at least 60% ( 60 % ) of the aggregate principal amount of the notes issued remains outstanding following such redemption .", "the indenture governing the notes contains covenants that limit nclc 2019s ability ( and its restricted subsidiaries 2019 ability ) to , among other things : ( i ) incur or guarantee additional indebtedness or issue certain preferred shares ; ( ii ) pay dividends and make certain other restricted payments ; ( iii ) create restrictions on the payment of dividends or other distributions to nclc from its restricted subsidiaries ; ( iv ) create liens on certain assets to secure debt ; ( v ) make certain investments ; ( vi ) engage in transactions with affiliates ; ( vii ) engage in sales of assets and subsidiary stock ; and ( viii ) transfer all or substantially all of its assets or enter into merger or consolidation transactions .", "the indenture governing the notes also provides for events of default , which , if any of them occurs , would permit or require the principal , premium ( if any ) , interest and other monetary obligations on all of the then-outstanding notes to become due and payable immediately .", "interest expense , net for the year ended december 31 , 2016 was $ 276.9 million which included $ 34.7 million of amortization of deferred financing fees and a $ 27.7 million loss on extinguishment of debt .", "interest expense , net for the year ended december 31 , 2015 was $ 221.9 million which included $ 36.7 million of amortization of deferred financing fees and a $ 12.7 million loss on extinguishment of debt .", "interest expense , net for the year ended december 31 , 2014 was $ 151.8 million which included $ 32.3 million of amortization of deferred financing fees and $ 15.4 million of expenses related to financing transactions in connection with the acquisition of prestige .", "certain of our debt agreements contain covenants that , among other things , require us to maintain a minimum level of liquidity , as well as limit our net funded debt-to-capital ratio , maintain certain other ratios and restrict our ability to pay dividends .", "substantially all of our ships and other property and equipment are pledged as collateral for certain of our debt .", "we believe we were in compliance with these covenants as of december 31 , 2016 .", "the following are scheduled principal repayments on long-term debt including capital lease obligations as of december 31 , 2016 for each of the next five years ( in thousands ) : ." ]

[ "we had an accrued interest liability of $ 32.5 million and $ 34.2 million as of december 31 , 2016 and 2015 , respectively. ." ]

[ [ "Year", "Amount" ], [ "2017", "$560,193" ], [ "2018", "554,846" ], [ "2019", "561,687" ], [ "2020", "1,153,733" ], [ "2021", "2,193,823" ], [ "Thereafter", "1,490,322" ], [ "Total", "$6,514,604" ] ]

[ [ "year", "amount" ], [ "2017", "$ 560193" ], [ "2018", "554846" ], [ "2019", "561687" ], [ "2020", "1153733" ], [ "2021", "2193823" ], [ "thereafter", "1490322" ], [ "total", "$ 6514604" ] ]

[ { "arg1": "32.5", "arg2": "34.2", "op": "minus1-1", "res": "-1.7" }, { "arg1": "#0", "arg2": "34.2", "op": "divide1-2", "res": "-5.0%" } ]

[ "contractual obligations the following table summarizes our significant contractual obligations as of december 28 , 2013: ." ]

[ "capital purchase obligations1 5503 5375 125 2014 3 other purchase obligations and commitments2 1859 772 744 307 36 long-term debt obligations3 22372 429 2360 3761 15822 other long-term liabilities4 , 5 1496 569 663 144 120 total6 $ 32100 $ 7353 $ 4190 $ 4378 $ 16179 1 capital purchase obligations represent commitments for the construction or purchase of property , plant and equipment .", "they were not recorded as liabilities on our consolidated balance sheets as of december 28 , 2013 , as we had not yet received the related goods or taken title to the property .", "2 other purchase obligations and commitments include payments due under various types of licenses and agreements to purchase goods or services , as well as payments due under non-contingent funding obligations .", "funding obligations include agreements to fund various projects with other companies .", "3 amounts represent principal and interest cash payments over the life of the debt obligations , including anticipated interest payments that are not recorded on our consolidated balance sheets .", "any future settlement of convertible debt would impact our cash payments .", "4 we are unable to reliably estimate the timing of future payments related to uncertain tax positions ; therefore , $ 188 million of long-term income taxes payable has been excluded from the preceding table .", "however , long- term income taxes payable , recorded on our consolidated balance sheets , included these uncertain tax positions , reduced by the associated federal deduction for state taxes and u.s .", "tax credits arising from non- u.s .", "income taxes .", "5 amounts represent future cash payments to satisfy other long-term liabilities recorded on our consolidated balance sheets , including the short-term portion of these long-term liabilities .", "expected required contributions to our u.s .", "and non-u.s .", "pension plans and other postretirement benefit plans of $ 62 million to be made during 2014 are also included ; however , funding projections beyond 2014 are not practicable to estimate .", "6 total excludes contractual obligations already recorded on our consolidated balance sheets as current liabilities except for the short-term portions of long-term debt obligations and other long-term liabilities .", "contractual obligations for purchases of goods or services , included in other purchase obligations and commitments in the preceding table , include agreements that are enforceable and legally binding on intel and that specify all significant terms , including fixed or minimum quantities to be purchased ; fixed , minimum , or variable price provisions ; and the approximate timing of the transaction .", "for obligations with cancellation provisions , the amounts included in the preceding table were limited to the non-cancelable portion of the agreement terms or the minimum cancellation fee .", "we have entered into certain agreements for the purchase of raw materials that specify minimum prices and quantities based on a percentage of the total available market or based on a percentage of our future purchasing requirements .", "due to the uncertainty of the future market and our future purchasing requirements , as well as the non-binding nature of these agreements , obligations under these agreements are not included in the preceding table .", "our purchase orders for other products are based on our current manufacturing needs and are fulfilled by our vendors within short time horizons .", "in addition , some of our purchase orders represent authorizations to purchase rather than binding agreements .", "table of contents management 2019s discussion and analysis of financial condition and results of operations ( continued ) ." ]

[ [ "", "Payments Due by Period" ], [ "(In Millions)", "Total", "Less Than1 Year", "1–3 Years", "3–5 Years", "More Than5 Years" ], [ "Operating lease obligations", "$870", "$208", "$298", "$166", "$198" ], [ "Capital purchase obligations¹", "5,503", "5,375", "125", "—", "3" ], [ "Other purchase obligations and commitments²", "1,859", "772", "744", "307", "36" ], [ "Long-term debt obligations³", "22,372", "429", "2,360", "3,761", "15,822" ], [ "Other long-term liabilities^{4, 5}", "1,496", "569", "663", "144", "120" ], [ "Total⁶", "$32,100", "$7,353", "$4,190", "$4,378", "$16,179" ] ]

[ [ "( in millions )", "payments due by period total", "payments due by period less than1 year", "payments due by period 1 20133 years", "payments due by period 3 20135 years", "payments due by period more than5 years" ], [ "operating lease obligations", "$ 870", "$ 208", "$ 298", "$ 166", "$ 198" ], [ "capital purchase obligations1", "5503", "5375", "125", "2014", "3" ], [ "other purchase obligations and commitments2", "1859", "772", "744", "307", "36" ], [ "long-term debt obligations3", "22372", "429", "2360", "3761", "15822" ], [ "other long-term liabilities4 5", "1496", "569", "663", "144", "120" ], [ "total6", "$ 32100", "$ 7353", "$ 4190", "$ 4378", "$ 16179" ] ]

[]

[ "n o t e s t o c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s ( continued ) ace limited and subsidiaries the following table shows changes in the company 2019s stock options for the years ended december 31 , 2008 , 2007 , and number of options weighted average exercise price ." ]

[ "the weighted-average remaining contractual term was 5.8 years for the stock options outstanding and 4.6 years for the stock options exercisable at december 31 , 2008 .", "the total intrinsic value was approximately $ 66 million for stock options out- standing and $ 81 million for stock options exercisable at december 31 , 2008 .", "the weighted-average fair value for the stock options granted for the year ended december 31 , 2008 was $ 17.60 .", "the total intrinsic value for stock options exercised dur- ing the years ended december 31 , 2008 , 2007 , and 2006 , was approximately $ 54 million , $ 44 million , and $ 43 million , respectively .", "the amount of cash received during the year ended december 31 , 2008 , from the exercise of stock options was $ 97 million .", "restricted stock the company 2019s 2004 ltip also provides for grants of restricted stock .", "the company generally grants restricted stock with a 4-year vesting period , based on a graded vesting schedule .", "the restricted stock is granted at market close price on the date of grant .", "included in the company 2019s share-based compensation expense in the year ended december 31 , 2008 , is a portion of the cost related to the unvested restricted stock granted in the years 2004 to 2008. ." ]

[ [ "", "Number of Options", "WeightedAverageExercise Price" ], [ "Options outstanding, December 31, 2005", "12,643,761", "$36.53" ], [ "Granted", "1,505,215", "$56.29" ], [ "Exercised", "(1,982,560)", "$33.69" ], [ "Forfeited", "(413,895)", "$39.71" ], [ "Options outstanding, December 31, 2006", "11,752,521", "$39.43" ], [ "Granted", "1,549,091", "$56.17" ], [ "Exercised", "(1,830,004)", "$35.73" ], [ "Forfeited", "(200,793)", "$51.66" ], [ "Options outstanding, December 31, 2007", "11,270,815", "$42.12" ], [ "Granted", "1,612,507", "$60.17" ], [ "Exercised", "(2,650,733)", "$36.25" ], [ "Forfeited", "(309,026)", "$54.31" ], [ "Options outstanding, December 31, 2008", "9,923,563", "$46.24" ] ]

[ [ "", "number of options", "weightedaverageexercise price" ], [ "options outstanding december 31 2005", "12643761", "$ 36.53" ], [ "granted", "1505215", "$ 56.29" ], [ "exercised", "-1982560 ( 1982560 )", "$ 33.69" ], [ "forfeited", "-413895 ( 413895 )", "$ 39.71" ], [ "options outstanding december 31 2006", "11752521", "$ 39.43" ], [ "granted", "1549091", "$ 56.17" ], [ "exercised", "-1830004 ( 1830004 )", "$ 35.73" ], [ "forfeited", "-200793 ( 200793 )", "$ 51.66" ], [ "options outstanding december 31 2007", "11270815", "$ 42.12" ], [ "granted", "1612507", "$ 60.17" ], [ "exercised", "-2650733 ( 2650733 )", "$ 36.25" ], [ "forfeited", "-309026 ( 309026 )", "$ 54.31" ], [ "options outstanding december 31 2008", "9923563", "$ 46.24" ] ]

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[ "of global business , there are many transactions and calculations where the ultimate tax outcome is uncertain .", "some of these uncertainties arise as a consequence of cost reimbursement arrangements among related entities .", "although the company believes its estimates are reasonable , no assurance can be given that the final tax outcome of these matters will not be different than that which is reflected in the historical income tax provisions and accruals .", "such differences could have a material impact on the company 2019s income tax provision and operating results in the period in which such determination is made .", "on november 4 , 2007 ( the first day of its 2008 fiscal year ) , the company adopted new accounting principles on accounting for uncertain tax positions .", "these principles require companies to determine whether it is 201cmore likely than not 201d that a tax position will be sustained upon examination by the appropriate taxing authorities before any benefit can be recorded in the financial statements .", "an uncertain income tax position will not be recognized if it has less than a 50% ( 50 % ) likelihood of being sustained .", "there were no changes to the company 2019s liabilities for uncertain tax positions as a result of the adoption of these provisions .", "as of october 30 , 2010 and october 31 , 2009 , the company had a liability of $ 18.4 million and $ 18.2 million , respectively , for gross unrealized tax benefits , all of which , if settled in the company 2019s favor , would lower the company 2019s effective tax rate in the period recorded .", "in addition , as of october 30 , 2010 and october 31 , 2009 , the company had a liability of approximately $ 9.8 million and $ 8.0 million , respectively , for interest and penalties .", "the total liability as of october 30 , 2010 and october 31 , 2009 of $ 28.3 million and $ 26.2 million , respectively , for uncertain tax positions is classified as non-current , and is included in other non-current liabilities , because the company believes that the ultimate payment or settlement of these liabilities will not occur within the next twelve months .", "prior to the adoption of these provisions , these amounts were included in current income tax payable .", "the company includes interest and penalties related to unrecognized tax benefits within the provision for taxes in the condensed consolidated statements of income , and as a result , no change in classification was made upon adopting these provisions .", "the condensed consolidated statements of income for fiscal years 2010 , 2009 and 2008 include $ 1.8 million , $ 1.7 million and $ 1.3 million , respectively , of interest and penalties related to these uncertain tax positions .", "due to the complexity associated with its tax uncertainties , the company cannot make a reasonably reliable estimate as to the period in which it expects to settle the liabilities associated with these uncertain tax positions .", "the following table summarizes the changes in the total amounts of uncertain tax positions for fiscal 2008 through fiscal 2010. ." ]

[ "fiscal years 2004 and 2005 irs examination during the fourth quarter of fiscal 2007 , the irs completed its field examination of the company 2019s fiscal years 2004 and 2005 .", "on january 2 , 2008 , the irs issued its report for fiscal 2004 and 2005 , which included proposed adjustments related to these two fiscal years .", "the company has recorded taxes and penalties related to certain of these proposed adjustments .", "there are four items with an additional potential total tax liability of $ 46 million .", "the company has concluded , based on discussions with its tax advisors , that these four items are not likely to result in any additional tax liability .", "therefore , the company has not recorded any additional tax liability for these items and is appealing these proposed adjustments through the normal processes for the resolution of differences between the irs and taxpayers .", "the company 2019s initial meetings with the appellate division of the irs were held during fiscal analog devices , inc .", "notes to consolidated financial statements 2014 ( continued ) ." ]

[ [ "Balance, November 3, 2007", "$9,889" ], [ "Additions for tax positions of 2008", "3,861" ], [ "Balance, November 1, 2008", "13,750" ], [ "Additions for tax positions of 2009", "4,411" ], [ "Balance, October 31, 2009", "18,161" ], [ "Additions for tax positions of 2010", "286" ], [ "Balance, October 30, 2010", "$18,447" ] ]

[ [ "balance november 3 2007", "$ 9889" ], [ "additions for tax positions of 2008", "3861" ], [ "balance november 1 2008", "13750" ], [ "additions for tax positions of 2009", "4411" ], [ "balance october 31 2009", "18161" ], [ "additions for tax positions of 2010", "286" ], [ "balance october 30 2010", "$ 18447" ] ]

[ { "arg1": "1.8", "arg2": "1.3", "op": "minus2-1", "res": "0.5" }, { "arg1": "#0", "arg2": "1.3", "op": "divide2-2", "res": "38.5%" } ]

[ "( $ 66 million net-of-tax ) as a result of customer credits to be realized by electric customers of entergy louisiana , consistent with the terms of the stipulated settlement in the business combination proceeding .", "see note 2 to the financial statements for further discussion of the business combination and customer credits .", "results of operations for 2015 also include the sale in december 2015 of the 583 mw rhode island state energy center for a realized gain of $ 154 million ( $ 100 million net-of-tax ) on the sale and the $ 77 million ( $ 47 million net-of-tax ) write-off and regulatory charges to recognize that a portion of the assets associated with the waterford 3 replacement steam generator project is no longer probable of recovery .", "see note 14 to the financial statements for further discussion of the rhode island state energy center sale .", "see note 2 to the financial statements for further discussion of the waterford 3 replacement steam generator prudence review proceeding .", "net revenue utility following is an analysis of the change in net revenue comparing 2016 to 2015 .", "amount ( in millions ) ." ]

[ "the retail electric price variance is primarily due to : 2022 an increase in base rates at entergy arkansas , as approved by the apsc .", "the new rates were effective february 24 , 2016 and began billing with the first billing cycle of april 2016 .", "the increase included an interim base rate adjustment surcharge , effective with the first billing cycle of april 2016 , to recover the incremental revenue requirement for the period february 24 , 2016 through march 31 , 2016 .", "a significant portion of the increase was related to the purchase of power block 2 of the union power station ; 2022 an increase in the purchased power and capacity acquisition cost recovery rider for entergy new orleans , as approved by the city council , effective with the first billing cycle of march 2016 , primarily related to the purchase of power block 1 of the union power station ; 2022 an increase in formula rate plan revenues for entergy louisiana , implemented with the first billing cycle of march 2016 , to collect the estimated first-year revenue requirement related to the purchase of power blocks 3 and 4 of the union power station ; and 2022 an increase in revenues at entergy mississippi , as approved by the mpsc , effective with the first billing cycle of july 2016 , and an increase in revenues collected through the storm damage rider .", "see note 2 to the financial statements for further discussion of the rate proceedings .", "see note 14 to the financial statements for discussion of the union power station purchase .", "the louisiana business combination customer credits variance is due to a regulatory liability of $ 107 million recorded by entergy in october 2015 as a result of the entergy gulf states louisiana and entergy louisiana business combination .", "consistent with the terms of the stipulated settlement in the business combination proceeding , electric customers of entergy louisiana will realize customer credits associated with the business combination ; accordingly , in october 2015 , entergy recorded a regulatory liability of $ 107 million ( $ 66 million net-of-tax ) .", "these costs are being entergy corporation and subsidiaries management 2019s financial discussion and analysis ." ]

[ [ "", "Amount (In Millions)" ], [ "2015 net revenue", "$5,829" ], [ "Retail electric price", "289" ], [ "Louisiana business combination customer credits", "107" ], [ "Volume/weather", "14" ], [ "Louisiana Act 55 financing savings obligation", "(17)" ], [ "Other", "(43)" ], [ "2016 net revenue", "$6,179" ] ]

[ [ "", "amount ( in millions )" ], [ "2015 net revenue", "$ 5829" ], [ "retail electric price", "289" ], [ "louisiana business combination customer credits", "107" ], [ "volume/weather", "14" ], [ "louisiana act 55 financing savings obligation", "-17 ( 17 )" ], [ "other", "-43 ( 43 )" ], [ "2016 net revenue", "$ 6179" ] ]

[ { "arg1": "6179", "arg2": "5829", "op": "minus2-1", "res": "350" }, { "arg1": "289", "arg2": "#0", "op": "divide2-2", "res": "82.6%" } ]

[ "asbestos claims the company and several of its us subsidiaries are defendants in asbestos cases .", "during the year ended december 31 , 2010 , asbestos case activity is as follows: ." ]

[ "because many of these cases involve numerous plaintiffs , the company is subject to claims significantly in excess of the number of actual cases .", "the company has reserves for defense costs related to claims arising from these matters .", "award proceedings in relation to domination agreement and squeeze-out on october 1 , 2004 , celanese gmbh and the company 2019s subsidiary , bcp holdings gmbh ( 201cbcp holdings 201d ) , a german limited liability company , entered into a domination agreement pursuant to which the bcp holdings became obligated to offer to acquire all outstanding celanese gmbh shares from the minority shareholders of celanese gmbh in return for payment of fair cash compensation ( the 201cpurchaser offer 201d ) .", "the amount of this fair cash compensation was determined to be a41.92 per share in accordance with applicable german law .", "all minority shareholders who elected not to sell their shares to the bcp holdings under the purchaser offer were entitled to remain shareholders of celanese gmbh and to receive from the bcp holdings a gross guaranteed annual payment of a3.27 per celanese gmbh share less certain corporate taxes in lieu of any dividend .", "as of march 30 , 2005 , several minority shareholders of celanese gmbh had initiated special award proceedings seeking the court 2019s review of the amounts of the fair cash compensation and of the guaranteed annual payment offered in the purchaser offer under the domination agreement .", "in the purchaser offer , 145387 shares were tendered at the fair cash compensation of a41.92 , and 924078 shares initially remained outstanding and were entitled to the guaranteed annual payment under the domination agreement .", "as a result of these proceedings , the amount of the fair cash consideration and the guaranteed annual payment paid under the domination agreement could be increased by the court so that all minority shareholders , including those who have already tendered their shares in the purchaser offer for the fair cash compensation , could claim the respective higher amounts .", "on december 12 , 2006 , the court of first instance appointed an expert to assist the court in determining the value of celanese gmbh .", "on may 30 , 2006 the majority shareholder of celanese gmbh adopted a squeeze-out resolution under which all outstanding shares held by minority shareholders should be transferred to bcp holdings for a fair cash compensation of a66.99 per share ( the 201csqueeze-out 201d ) .", "this shareholder resolution was challenged by shareholders but the squeeze-out became effective after the disputes were settled on december 22 , 2006 .", "award proceedings were subsequently filed by 79 shareholders against bcp holdings with the frankfurt district court requesting the court to set a higher amount for the squeeze-out compensation .", "pursuant to a settlement agreement between bcp holdings and certain former celanese gmbh shareholders , if the court sets a higher value for the fair cash compensation or the guaranteed payment under the purchaser offer or the squeeze-out compensation , former celanese gmbh shareholders who ceased to be shareholders of celanese gmbh due to the squeeze-out will be entitled to claim for their shares the higher of the compensation amounts determined by the court in these different proceedings related to the purchaser offer and the squeeze-out .", "if the fair cash compensation determined by the court is higher than the squeeze-out compensation of a 66.99 , then 1069465 shares will be entitled to an adjustment .", "if the court confirms the value of the fair cash compensation under the domination agreement but determines a higher value for the squeeze-out compensation , 924078 shares %%transmsg*** transmitting job : d77691 pcn : 148000000 ***%%pcmsg|148 |00010|yes|no|02/08/2011 16:10|0|0|page is valid , no graphics -- color : n| ." ]

[ [ "", "Asbestos Cases" ], [ "As of December 31, 2009", "526" ], [ "Case adjustments", "2" ], [ "New cases filed", "41" ], [ "Resolved cases", "(70)" ], [ "As of December 31, 2010", "499" ] ]

[ [ "", "asbestos cases" ], [ "as of december 31 2009", "526" ], [ "case adjustments", "2" ], [ "new cases filed", "41" ], [ "resolved cases", "-70 ( 70 )" ], [ "as of december 31 2010", "499" ] ]

[]

[ "page 71 of 94 notes to consolidated financial statements ball corporation and subsidiaries 16 .", "shareholders 2019 equity ( continued ) on october 24 , 2007 , ball announced the discontinuance of the company 2019s discount on the reinvestment of dividends associated with the company 2019s dividend reinvestment and voluntary stock purchase plan for non- employee shareholders .", "the 5 percent discount was discontinued on november 1 , 2007 .", "accumulated other comprehensive earnings ( loss ) the activity related to accumulated other comprehensive earnings ( loss ) was as follows : ( $ in millions ) foreign currency translation pension and postretirement items , net of tax effective financial derivatives , net of tax accumulated comprehensive earnings ( loss ) ." ]

[ "( a ) within the company 2019s 2006 annual report , the consolidated statement of changes in shareholders 2019 equity for the year ended december 31 , 2006 , included a transition adjustment of $ 47.9 million , net of tax , related to the adoption of sfas no .", "158 , 201cemployers 2019 accounting for defined benefit pension plans and other postretirement plans , an amendment of fasb statements no .", "87 , 88 , 106 and 132 ( r ) , 201d as a component of 2006 comprehensive earnings rather than only as an adjustment to accumulated other comprehensive loss .", "the 2006 amounts have been revised to correct the previous reporting .", "notwithstanding the 2005 distribution pursuant to the jobs act , management 2019s intention is to indefinitely reinvest foreign earnings .", "therefore , no taxes have been provided on the foreign currency translation component for any period .", "the change in the pension and other postretirement items is presented net of related tax expense of $ 31.3 million and $ 2.9 million for 2007 and 2006 , respectively , and a related tax benefit of $ 27.3 million for 2005 .", "the change in the effective financial derivatives is presented net of related tax benefit of $ 3.2 million for 2007 , related tax expense of $ 5.7 million for 2006 and related tax benefit of $ 10.7 million for 2005 .", "stock-based compensation programs effective january 1 , 2006 , ball adopted sfas no .", "123 ( revised 2004 ) , 201cshare based payment , 201d which is a revision of sfas no .", "123 and supersedes apb opinion no .", "25 .", "the new standard establishes accounting standards for transactions in which an entity exchanges its equity instruments for goods or services , including stock option and restricted stock grants .", "the major differences for ball are that ( 1 ) expense is now recorded in the consolidated statements of earnings for the fair value of new stock option grants and nonvested portions of grants made prior to january 1 , 2006 , and ( 2 ) the company 2019s deposit share program ( discussed below ) is no longer a variable plan that is marked to current market value each month through earnings .", "upon adoption of sfas no .", "123 ( revised 2004 ) , ball has chosen to use the modified prospective transition method and the black-scholes valuation model. ." ]

[ [ "($ in millions)", "Foreign Currency Translation", "Pension and Other Postretirement Items, Net of Tax", "Effective Financial Derivatives, Net of Tax", "Accumulated Other Comprehensive Earnings (Loss)" ], [ "December 31, 2004", "$148.9", "$(126.3)", "$10.6", "$33.2" ], [ "2005 change", "(74.3)", "(43.6)", "(16.0)", "(133.9)" ], [ "December 31, 2005", "74.6", "(169.9)", "(5.4)", "(100.7)" ], [ "2006 change", "57.2", "55.9", "6.0", "119.1" ], [ "Effect of SFAS No. 158 adoption(a)", "–", "(47.9)", "–", "(47.9)" ], [ "December 31, 2006", "131.8", "(161.9)", "0.6", "(29.5)" ], [ "2007 change", "90.0", "57.9", "(11.5)", "136.4" ], [ "December 31, 2007", "$221.8", "$(104.0)", "$(10.9)", "$106.9" ] ]

[ [ "( $ in millions )", "foreign currency translation", "pension and other postretirement items net of tax", "effective financial derivatives net of tax", "accumulated other comprehensive earnings ( loss )" ], [ "december 31 2004", "$ 148.9", "$ -126.3 ( 126.3 )", "$ 10.6", "$ 33.2" ], [ "2005 change", "-74.3 ( 74.3 )", "-43.6 ( 43.6 )", "-16.0 ( 16.0 )", "-133.9 ( 133.9 )" ], [ "december 31 2005", "74.6", "-169.9 ( 169.9 )", "-5.4 ( 5.4 )", "-100.7 ( 100.7 )" ], [ "2006 change", "57.2", "55.9", "6.0", "119.1" ], [ "effect of sfas no . 158 adoption ( a )", "2013", "-47.9 ( 47.9 )", "2013", "-47.9 ( 47.9 )" ], [ "december 31 2006", "131.8", "-161.9 ( 161.9 )", "0.6", "-29.5 ( 29.5 )" ], [ "2007 change", "90.0", "57.9", "-11.5 ( 11.5 )", "136.4" ], [ "december 31 2007", "$ 221.8", "$ -104.0 ( 104.0 )", "$ -10.9 ( 10.9 )", "$ 106.9" ] ]

[ { "arg1": "-29.5", "arg2": "-100.7", "op": "minus1-1", "res": "71.2" }, { "arg1": "#0", "arg2": "100.7", "op": "divide1-2", "res": "71%" } ]

[ "transfer agent and registrar for common stock the transfer agent and registrar for our common stock is : computershare shareowner services llc 480 washington boulevard 29th floor jersey city , new jersey 07310 telephone : ( 877 ) 363-6398 sales of unregistered securities not applicable .", "repurchase of equity securities the following table provides information regarding our purchases of our equity securities during the period from october 1 , 2013 to december 31 , 2013 .", "total number of shares ( or units ) purchased 1 average price paid per share ( or unit ) 2 total number of shares ( or units ) purchased as part of publicly announced plans or programs 3 maximum number ( or approximate dollar value ) of shares ( or units ) that may yet be purchased under the plans or programs 3 ." ]

[ "1 includes shares of our common stock , par value $ 0.10 per share , withheld under the terms of grants under employee stock-based compensation plans to offset tax withholding obligations that occurred upon vesting and release of restricted shares ( the 201cwithheld shares 201d ) .", "we repurchased 1067 withheld shares in october 2013 .", "no withheld shares were purchased in november or december of 2013 .", "2 the average price per share for each of the months in the fiscal quarter and for the three-month period was calculated by dividing the sum of the applicable period of the aggregate value of the tax withholding obligations and the aggregate amount we paid for shares acquired under our stock repurchase program , described in note 6 to the consolidated financial statements , by the sum of the number of withheld shares and the number of shares acquired in our stock repurchase program .", "3 in february 2013 , the board authorized a new share repurchase program to repurchase from time to time up to $ 300.0 million , excluding fees , of our common stock ( the 201c2013 share repurchase program 201d ) .", "in march 2013 , the board authorized an increase in the amount available under our 2013 share repurchase program up to $ 500.0 million , excluding fees , of our common stock .", "on february 14 , 2014 , we announced that our board had approved a new share repurchase program to repurchase from time to time up to $ 300.0 million , excluding fees , of our common stock .", "the new authorization is in addition to any amounts remaining available for repurchase under the 2013 share repurchase program .", "there is no expiration date associated with the share repurchase programs. ." ]

[ [ "", "Total Number ofShares (or Units)Purchased¹", "Average Price Paidper Share (or Unit)²", "Total Number ofShares (or Units)Purchased as Part ofPublicly AnnouncedPlans or Programs³", "Maximum Number (or Approximate Dollar Value)of Shares (or Units) that MayYet Be Purchased Under thePlans or Programs³" ], [ "October 1 - 31", "3,351,759", "$16.63", "3,350,692", "$263,702,132" ], [ "November 1 - 30", "5,202,219", "$17.00", "5,202,219", "$175,284,073" ], [ "December 1 - 31", "3,323,728", "$17.07", "3,323,728", "$118,560,581" ], [ "Total", "11,877,706", "$16.91", "11,876,639", "" ] ]

[ [ "", "total number ofshares ( or units ) purchased1", "average price paidper share ( or unit ) 2", "total number ofshares ( or units ) purchased as part ofpublicly announcedplans or programs3", "maximum number ( or approximate dollar value ) of shares ( or units ) that mayyet be purchased under theplans or programs3" ], [ "october 1 - 31", "3351759", "$ 16.63", "3350692", "$ 263702132" ], [ "november 1 - 30", "5202219", "$ 17.00", "5202219", "$ 175284073" ], [ "december 1 - 31", "3323728", "$ 17.07", "3323728", "$ 118560581" ], [ "total", "11877706", "$ 16.91", "11876639", "" ] ]

[ { "arg1": "11877706", "arg2": "16.91", "op": "multiply2-1", "res": "200852008" }, { "arg1": "#0", "arg2": "const_1000000", "op": "divide2-2", "res": "200.9" } ]

[ "note 9 .", "retirement plan we maintain a defined contribution pension plan covering full-time shoreside employees who have completed the minimum period of continuous service .", "annual contributions to the plan are based on fixed percentages of participants 2019 salaries and years of service , not to exceed certain maximums .", "pension cost was $ 13.9 million , $ 12.8 million and $ 12.2 million for the years ended december 31 , 2006 , 2005 and 2004 , respectively .", "note 10 .", "income taxes we and the majority of our subsidiaries are currently exempt from united states corporate tax on income from the international opera- tion of ships pursuant to section 883 of the internal revenue code .", "income tax expense related to our remaining subsidiaries was not significant for the years ended december 31 , 2006 , 2005 and 2004 .", "final regulations under section 883 were published on august 26 , 2003 , and were effective for the year ended december 31 , 2005 .", "these regulations confirmed that we qualify for the exemption provid- ed by section 883 , but also narrowed the scope of activities which are considered by the internal revenue service to be incidental to the international operation of ships .", "the activities listed in the regula- tions as not being incidental to the international operation of ships include income from the sale of air and other transportation such as transfers , shore excursions and pre and post cruise tours .", "to the extent the income from such activities is earned from sources within the united states , such income will be subject to united states taxa- tion .", "the application of these new regulations reduced our net income for the years ended december 31 , 2006 and december 31 , 2005 by approximately $ 6.3 million and $ 14.0 million , respectively .", "note 11 .", "financial instruments the estimated fair values of our financial instruments are as follows ( in thousands ) : ." ]

[ "long-term debt ( including current portion of long-term debt ) ( 5474988 ) ( 4368874 ) foreign currency forward contracts in a net ( loss ) gain position 104159 ( 115415 ) interest rate swap agreements in a net receivable position 5856 8456 fuel swap agreements in a net payable position ( 20456 ) ( 78 ) the reported fair values are based on a variety of factors and assumptions .", "accordingly , the fair values may not represent actual values of the financial instruments that could have been realized as of december 31 , 2006 or 2005 , or that will be realized in the future and do not include expenses that could be incurred in an actual sale or settlement .", "our financial instruments are not held for trading or speculative purposes .", "our exposure under foreign currency contracts , interest rate and fuel swap agreements is limited to the cost of replacing the contracts in the event of non-performance by the counterparties to the contracts , all of which are currently our lending banks .", "to minimize this risk , we select counterparties with credit risks acceptable to us and we limit our exposure to an individual counterparty .", "furthermore , all foreign currency forward contracts are denominated in primary currencies .", "cash and cash equivalents the carrying amounts of cash and cash equivalents approximate their fair values due to the short maturity of these instruments .", "long-term debt the fair values of our senior notes and senior debentures were esti- mated by obtaining quoted market prices .", "the fair values of all other debt were estimated using discounted cash flow analyses based on market rates available to us for similar debt with the same remaining maturities .", "foreign currency contracts the fair values of our foreign currency forward contracts were esti- mated using current market prices for similar instruments .", "our expo- sure to market risk for fluctuations in foreign currency exchange rates relates to six ship construction contracts and forecasted transactions .", "we use foreign currency forward contracts to mitigate the impact of fluctuations in foreign currency exchange rates .", "as of december 31 , 2006 , we had foreign currency forward contracts in a notional amount of $ 3.8 billion maturing through 2009 .", "as of december 31 , 2006 , the fair value of our foreign currency forward contracts related to the six ship construction contracts , which are designated as fair value hedges , was a net unrealized gain of approximately $ 106.3 mil- lion .", "at december 31 , 2005 , the fair value of our foreign currency for- ward contracts related to three ship construction contracts , designated as fair value hedges , was a net unrealized loss of approx- imately $ 103.4 million .", "the fair value of our foreign currency forward contracts related to the other ship construction contract at december 31 , 2005 , which was designated as a cash flow hedge , was an unre- alized loss , of approximately $ 7.8 million .", "at december 31 , 2006 , approximately 11% ( 11 % ) of the aggregate cost of the ships was exposed to fluctuations in the euro exchange rate .", "r o y a l c a r i b b e a n c r u i s e s l t d .", "3 5 notes to the consolidated financial statements ( continued ) 51392_financials-v9.qxp 6/7/07 3:40 pm page 35 ." ]

[ [ "", "2006", "2005" ], [ "Cash and cash equivalents", "$ 104,520", "$ 125,385" ], [ "Long-term debt (including current portion of long-term debt)", "(5,474,988)", "(4,368,874)" ], [ "Foreign currency forward contracts in a net (loss) gain position", "104,159", "(115,415)" ], [ "Interest rate swap agreements in a net receivable position", "5,856", "8,456" ], [ "Fuel swap agreements in a net payable position", "(20,456)", "(78)" ] ]

[ [ "", "2006", "2005" ], [ "cash and cash equivalents", "$ 104520", "$ 125385" ], [ "long-term debt ( including current portion of long-term debt )", "-5474988 ( 5474988 )", "-4368874 ( 4368874 )" ], [ "foreign currency forward contracts in a net ( loss ) gain position", "104159", "-115415 ( 115415 )" ], [ "interest rate swap agreements in a net receivable position", "5856", "8456" ], [ "fuel swap agreements in a net payable position", "-20456 ( 20456 )", "-78 ( 78 )" ] ]

[ { "arg1": "13.9", "arg2": "12.8", "op": "add1-1", "res": "26.7" }, { "arg1": "#0", "arg2": "12.2", "op": "add1-2", "res": "38.9" } ]

[ "performance graph the table below compares the cumulative total shareholder return on our common stock with the cumulative total return of ( i ) the standard & poor 2019s 500 composite stock index ( 201cs&p 500 index 201d ) , ( ii ) the standard & poor 2019s industrials index ( 201cs&p industrials index 201d ) and ( iii ) the standard & poor 2019s consumer durables & apparel index ( 201cs&p consumer durables & apparel index 201d ) , from december 31 , 2005 through december 31 , 2010 , when the closing price of our common stock was $ 12.66 .", "the graph assumes investments of $ 100 on december 31 , 2005 in our common stock and in each of the three indices and the reinvestment of dividends .", "performance graph 201020092008200720062005 s&p 500 index s&p industrials index s&p consumer durables & apparel index the table below sets forth the value , as of december 31 for each of the years indicated , of a $ 100 investment made on december 31 , 2005 in each of our common stock , the s&p 500 index , the s&p industrials index and the s&p consumer durables & apparel index and includes the reinvestment of dividends. ." ]

[ "in july 2007 , our board of directors authorized the purchase of up to 50 million shares of our common stock in open-market transactions or otherwise .", "at december 31 , 2010 , we had remaining authorization to repurchase up to 27 million shares .", "during 2010 , we repurchased and retired three million shares of our common stock , for cash aggregating $ 45 million to offset the dilutive impact of the 2010 grant of three million shares of long-term stock awards .", "we did not purchase any shares during the three months ended december 31 , 2010. ." ]

[ [ "", "2006", "2007", "2008", "2009", "2010" ], [ "Masco", "$101.79", "$76.74", "$42.81", "$54.89", "$51.51" ], [ "S&P 500 Index", "$115.61", "$121.95", "$77.38", "$97.44", "$111.89" ], [ "S&P Industrials Index", "$113.16", "$126.72", "$76.79", "$92.30", "$116.64" ], [ "S&P Consumer Durables & Apparel Index", "$106.16", "$84.50", "$56.13", "$76.51", "$99.87" ] ]

[ [ "", "2006", "2007", "2008", "2009", "2010" ], [ "masco", "$ 101.79", "$ 76.74", "$ 42.81", "$ 54.89", "$ 51.51" ], [ "s&p 500 index", "$ 115.61", "$ 121.95", "$ 77.38", "$ 97.44", "$ 111.89" ], [ "s&p industrials index", "$ 113.16", "$ 126.72", "$ 76.79", "$ 92.30", "$ 116.64" ], [ "s&p consumer durables & apparel index", "$ 106.16", "$ 84.50", "$ 56.13", "$ 76.51", "$ 99.87" ] ]

[ { "arg1": "126.72", "arg2": "113.16", "op": "minus2-1", "res": "13.56" }, { "arg1": "#0", "arg2": "113.16", "op": "divide2-2", "res": "11.9%" } ]

[ "five-year performance comparison 2013 the following graph provides an indicator of cumulative total shareholder returns for the corporation as compared to the peer group index ( described above ) , the dow jones , and the s&p 500 .", "the graph assumes that the value of the investment in the common stock of union pacific corporation and each index was $ 100 on december 31 , 2002 , and that all dividends were reinvested .", "comparison of five-year cumulative return 2002 2003 2004 2005 2006 2007 upc s&p 500 peer group dj trans purchases of equity securities 2013 during 2007 , we repurchased 13266070 shares of our common stock at an average price of $ 115.66 .", "during the first nine months of 2007 , we repurchased 10639916 shares of our common stock at an average price per share of $ 112.68 .", "the following table presents common stock repurchases during each month for the fourth quarter of 2007 : period number of shares purchased average paid per total number of shares purchased as part of a publicly announced plan or program maximum number of shares that may yet be purchased under the plan or program ." ]

[ "[a] total number of shares purchased during the quarter includes 228354 shares delivered or attested to upc by employees to pay stock option exercise prices , satisfy excess tax withholding obligations for stock option exercises or vesting of retention units , and pay withholding obligations for vesting of retention shares .", "[b] on january 30 , 2007 , our board of directors authorized us to repurchase up to 20 million shares of our common stock through december 31 , 2009 .", "we may make these repurchases on the open market or through other transactions .", "our management has sole discretion with respect to determining the timing and amount of these transactions. ." ]

[ [ "<i>Period</i>", "<i>TotalNumber ofSharesPurchased[a]</i>", "<i>AveragePricePaid perShare</i>", "<i>Total Number of SharesPurchased as Part of aPublicly AnnouncedPlan orProgram</i>", "<i>Maximum Number ofShares That May YetBe Purchased Underthe Plan orProgram[b]</i>" ], [ "Oct. 1 through Oct. 31", "99,782", "$ 128.78", "-", "9,774,279" ], [ "Nov. 1 through Nov. 30", "540,294", "124.70", "528,000", "9,246,279" ], [ "Dec. 1 through Dec. 31", "1,986,078", "128.53", "1,869,800", "7,376,479" ], [ "Total", "2,626,154", "$ 127.75", "2,397,800", "N/A" ] ]

[ [ "period", "totalnumber ofsharespurchased[a]", "averagepricepaid pershare", "total number of sharespurchased as part of apublicly announcedplan orprogram", "maximum number ofshares that may yetbe purchased underthe plan orprogram[b]" ], [ "oct . 1 through oct . 31", "99782", "$ 128.78", "-", "9774279" ], [ "nov . 1 through nov . 30", "540294", "124.70", "528000", "9246279" ], [ "dec . 1 through dec . 31", "1986078", "128.53", "1869800", "7376479" ], [ "total", "2626154", "$ 127.75", "2397800", "n/a" ] ]

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[ "2015 and 2014 was $ 1.5 billion and $ 1.3 billion .", "the aggregate notional amount of our outstanding foreign currency hedges at december 31 , 2015 and 2014 was $ 4.1 billion and $ 804 million .", "derivative instruments did not have a material impact on net earnings and comprehensive income during 2015 , 2014 and 2013 .", "substantially all of our derivatives are designated for hedge accounting .", "see note 16 for more information on the fair value measurements related to our derivative instruments .", "recent accounting pronouncements 2013 in may 2014 , the fasb issued a new standard that will change the way we recognize revenue and significantly expand the disclosure requirements for revenue arrangements .", "on july 9 , 2015 , the fasb approved a one-year deferral of the effective date of the standard to 2018 for public companies , with an option that would permit companies to adopt the standard in 2017 .", "early adoption prior to 2017 is not permitted .", "the new standard may be adopted either retrospectively or on a modified retrospective basis whereby the new standard would be applied to new contracts and existing contracts with remaining performance obligations as of the effective date , with a cumulative catch-up adjustment recorded to beginning retained earnings at the effective date for existing contracts with remaining performance obligations .", "in addition , the fasb is contemplating making additional changes to certain elements of the new standard .", "we are currently evaluating the methods of adoption allowed by the new standard and the effect the standard is expected to have on our consolidated financial statements and related disclosures .", "as the new standard will supersede substantially all existing revenue guidance affecting us under gaap , it could impact revenue and cost recognition on thousands of contracts across all our business segments , in addition to our business processes and our information technology systems .", "as a result , our evaluation of the effect of the new standard will extend over future periods .", "in september 2015 , the fasb issued a new standard that simplifies the accounting for adjustments made to preliminary amounts recognized in a business combination by eliminating the requirement to retrospectively account for those adjustments .", "instead , adjustments will be recognized in the period in which the adjustments are determined , including the effect on earnings of any amounts that would have been recorded in previous periods if the accounting had been completed at the acquisition date .", "we adopted the standard on january 1 , 2016 and will prospectively apply the standard to business combination adjustments identified after the date of adoption .", "in november 2015 , the fasb issued a new standard that simplifies the presentation of deferred income taxes and requires that deferred tax assets and liabilities , as well as any related valuation allowance , be classified as noncurrent in our consolidated balance sheets .", "the standard is effective january 1 , 2017 , with early adoption permitted .", "the standard may be applied either prospectively from the date of adoption or retrospectively to all prior periods presented .", "we are currently evaluating when we will adopt the standard and the method of adoption .", "note 2 2013 earnings per share the weighted average number of shares outstanding used to compute earnings per common share were as follows ( in millions ) : ." ]

[ "we compute basic and diluted earnings per common share by dividing net earnings by the respective weighted average number of common shares outstanding for the periods presented .", "our calculation of diluted earnings per common share also includes the dilutive effects for the assumed vesting of outstanding restricted stock units and exercise of outstanding stock options based on the treasury stock method .", "the computation of diluted earnings per common share excluded 2.4 million stock options for the year ended december 31 , 2013 because their inclusion would have been anti-dilutive , primarily due to their exercise prices exceeding the average market prices of our common stock during the respective periods .", "there were no anti-dilutive equity awards for the years ended december 31 , 2015 and 2014. ." ]

[ [ "", "2015", "2014", "2013" ], [ "Weighted average common shares outstanding for basic computations", "310.3", "316.8", "320.9" ], [ "Weighted average dilutive effect of equity awards", "4.4", "5.6", "5.6" ], [ "Weighted average common shares outstanding for diluted computations", "314.7", "322.4", "326.5" ] ]

[ [ "", "2015", "2014", "2013" ], [ "weighted average common shares outstanding for basic computations", "310.3", "316.8", "320.9" ], [ "weighted average dilutive effect of equity awards", "4.4", "5.6", "5.6" ], [ "weighted average common shares outstanding for diluted computations", "314.7", "322.4", "326.5" ] ]

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[ "10-k altria ar release tuesday , february 27 , 2018 10:00pm andra design llc performance stock units : in january 2017 , altria group , inc .", "granted an aggregate of 187886 performance stock units to eligible employees .", "the payout of the performance stock units requires the achievement of certain performance measures , which were predetermined at the time of grant , over a three-year performance cycle .", "these performance measures consist of altria group , inc . 2019s adjusted diluted earnings per share ( 201ceps 201d ) compounded annual growth rate and altria group , inc . 2019s total shareholder return relative to a predetermined peer group .", "the performance stock units are also subject to forfeiture if certain employment conditions are not met .", "at december 31 , 2017 , altria group , inc .", "had 170755 performance stock units remaining , with a weighted-average grant date fair value of $ 70.39 per performance stock unit .", "the fair value of the performance stock units at the date of grant , net of estimated forfeitures , is amortized to expense over the performance period .", "altria group , inc .", "recorded pre-tax compensation expense related to performance stock units for the year ended december 31 , 2017 of $ 6 million .", "the unamortized compensation expense related to altria group , inc . 2019s performance stock units was $ 7 million at december 31 , 2017 .", "altria group , inc .", "did not grant any performance stock units during 2016 and 2015 .", "note 12 .", "earnings per share basic and diluted eps were calculated using the following: ." ]

[ "net earnings attributable to altria group , inc .", "$ 10222 $ 14239 $ 5241 less : distributed and undistributed earnings attributable to share-based awards ( 14 ) ( 24 ) ( 10 ) earnings for basic and diluted eps $ 10208 $ 14215 $ 5231 weighted-average shares for basic and diluted eps 1921 1952 1961 ." ]

[ [ "", "For the Years Ended December 31," ], [ "(in millions)", "2017", "2016", "2015" ], [ "Net earnings attributable to Altria Group, Inc.", "$10,222", "$14,239", "$5,241" ], [ "Less: Distributed and undistributed earnings attributable to share-based awards", "(14)", "(24)", "(10)" ], [ "Earnings for basic and diluted EPS", "$10,208", "$14,215", "$5,231" ], [ "Weighted-average shares for basic and diluted EPS", "1,921", "1,952", "1,961" ] ]

[ [ "( in millions )", "for the years ended december 31 , 2017", "for the years ended december 31 , 2016", "for the years ended december 31 , 2015" ], [ "net earnings attributable to altria group inc .", "$ 10222", "$ 14239", "$ 5241" ], [ "less : distributed and undistributed earnings attributable to share-based awards", "-14 ( 14 )", "-24 ( 24 )", "-10 ( 10 )" ], [ "earnings for basic and diluted eps", "$ 10208", "$ 14215", "$ 5231" ], [ "weighted-average shares for basic and diluted eps", "1921", "1952", "1961" ] ]

[ { "arg1": "14239", "arg2": "5241", "op": "minus2-1", "res": "8998" }, { "arg1": "#0", "arg2": "5241", "op": "divide2-2", "res": "171.7%" } ]

[ "our consolidated net cash flows used for investing activities were $ 4.2 billion in 2010 , compared with $ 3.2 billion in 2009 .", "net investing activities for the indicated periods were related primarily to net purchases of fixed maturities and for 2010 included the acquisitions of rain and hail and jerneh insurance berhad .", "our consolidated net cash flows from financing activities were $ 732 million in 2010 , compared with net cash flows used for financing activities of $ 321 million in 2009 .", "net cash flows from/used for financing activities in 2010 and 2009 , included dividends paid on our common shares of $ 435 million and $ 388 million , respectively .", "net cash flows from financing activ- ities in 2010 , included net proceeds of $ 699 million from the issuance of long-term debt , $ 1 billion in reverse repurchase agreements , and $ 300 million in credit facility borrowings .", "this was partially offset by repayment of $ 659 million in debt and share repurchases settled in 2010 of $ 235 million .", "for 2009 , net cash flows used for financing activities included net pro- ceeds from the issuance of $ 500 million in long-term debt and the net repayment of debt and reverse repurchase agreements of $ 466 million .", "both internal and external forces influence our financial condition , results of operations , and cash flows .", "claim settle- ments , premium levels , and investment returns may be impacted by changing rates of inflation and other economic conditions .", "in many cases , significant periods of time , ranging up to several years or more , may lapse between the occurrence of an insured loss , the reporting of the loss to us , and the settlement of the liability for that loss .", "from time to time , we utilize reverse repurchase agreements as a low-cost alternative for short-term funding needs .", "we use these instruments on a limited basis to address short-term cash timing differences without disrupting our investment portfolio holdings and settle the transactions with future operating cash flows .", "at december 31 , 2010 , there were $ 1 billion in reverse repurchase agreements outstanding ( refer to short-term debt ) .", "in addition to cash from operations , routine sales of investments , and financing arrangements , we have agreements with a bank provider which implemented two international multi-currency notional cash pooling programs to enhance cash management efficiency during periods of short-term timing mismatches between expected inflows and outflows of cash by currency .", "in each program , participating ace entities establish deposit accounts in different currencies with the bank provider and each day the credit or debit balances in every account are notionally translated into a single currency ( u.s .", "dollars ) and then notionally pooled .", "the bank extends overdraft credit to any participating ace entity as needed , provided that the overall notionally-pooled balance of all accounts in each pool at the end of each day is at least zero .", "actual cash balances are not physically converted and are not co-mingled between legal entities .", "ace entities may incur overdraft balances as a means to address short-term timing mismatches , and any overdraft balances incurred under this program by an ace entity would be guaranteed by ace limited ( up to $ 150 million in the aggregate ) .", "our revolving credit facility allows for same day drawings to fund a net pool overdraft should participating ace entities withdraw contributed funds from the pool .", "capital resources capital resources consist of funds deployed or available to be deployed to support our business operations .", "the following table summarizes the components of our capital resources at december 31 , 2010 , and 2009. ." ]

[ "our ratios of debt to total capitalization and debt plus trust preferred securities to total capitalization have increased temporarily due to the increase in short-term debt , as discussed below .", "we expect that these ratios will decline over the next six to nine months as we repay the short-term debt .", "we believe our financial strength provides us with the flexibility and capacity to obtain available funds externally through debt or equity financing on both a short-term and long-term basis .", "our ability to access the capital markets is dependent on , among other things , market conditions and our perceived financial strength .", "we have accessed both the debt and equity markets from time to time. ." ]

[ [ "(in millions of U.S. dollars, except for percentages)", "2010", "2009" ], [ "Short-term debt", "$1,300", "$161" ], [ "Long-term debt", "3,358", "3,158" ], [ "Total debt", "4,658", "3,319" ], [ "Trust preferred securities", "309", "309" ], [ "Total shareholders’ equity", "22,974", "19,667" ], [ "Total capitalization", "$27,941", "$23,295" ], [ "Ratio of debt to total capitalization", "16.7%", "14.2%" ], [ "Ratio of debt plus trust preferred securities to total capitalization", "17.8%", "15.6%" ] ]

[ [ "( in millions of u.s . dollars except for percentages )", "2010", "2009" ], [ "short-term debt", "$ 1300", "$ 161" ], [ "long-term debt", "3358", "3158" ], [ "total debt", "4658", "3319" ], [ "trust preferred securities", "309", "309" ], [ "total shareholders 2019 equity", "22974", "19667" ], [ "total capitalization", "$ 27941", "$ 23295" ], [ "ratio of debt to total capitalization", "16.7% ( 16.7 % )", "14.2% ( 14.2 % )" ], [ "ratio of debt plus trust preferred securities to total capitalization", "17.8% ( 17.8 % )", "15.6% ( 15.6 % )" ] ]

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[ "management 2019s discussion and analysis 138 jpmorgan chase & co./2013 annual report the credit derivatives used in credit portfolio management activities do not qualify for hedge accounting under u.s .", "gaap ; these derivatives are reported at fair value , with gains and losses recognized in principal transactions revenue .", "in contrast , the loans and lending-related commitments being risk-managed are accounted for on an accrual basis .", "this asymmetry in accounting treatment , between loans and lending-related commitments and the credit derivatives used in credit portfolio management activities , causes earnings volatility that is not representative , in the firm 2019s view , of the true changes in value of the firm 2019s overall credit exposure .", "the effectiveness of the firm 2019s credit default swap ( 201ccds 201d ) protection as a hedge of the firm 2019s exposures may vary depending on a number of factors , including the named reference entity ( i.e. , the firm may experience losses on specific exposures that are different than the named reference entities in the purchased cds ) , and the contractual terms of the cds ( which may have a defined credit event that does not align with an actual loss realized by the firm ) and the maturity of the firm 2019s cds protection ( which in some cases may be shorter than the firm 2019s exposures ) .", "however , the firm generally seeks to purchase credit protection with a maturity date that is the same or similar to the maturity date of the exposure for which the protection was purchased , and remaining differences in maturity are actively monitored and managed by the firm .", "credit portfolio hedges the following table sets out the fair value related to the firm 2019s credit derivatives used in credit portfolio management activities , the fair value related to the cva ( which reflects the credit quality of derivatives counterparty exposure ) , as well as certain other hedges used in the risk management of cva .", "these results can vary from period-to- period due to market conditions that affect specific positions in the portfolio .", "net gains and losses on credit portfolio hedges year ended december 31 , ( in millions ) 2013 2012 2011 hedges of loans and lending- related commitments $ ( 142 ) $ ( 163 ) $ ( 32 ) ." ]

[ "community reinvestment act exposure the community reinvestment act ( 201ccra 201d ) encourages banks to meet the credit needs of borrowers in all segments of their communities , including neighborhoods with low or moderate incomes .", "the firm is a national leader in community development by providing loans , investments and community development services in communities across the united states .", "at december 31 , 2013 and 2012 , the firm 2019s cra loan portfolio was approximately $ 18 billion and $ 16 billion , respectively .", "at december 31 , 2013 and 2012 , 50% ( 50 % ) and 62% ( 62 % ) , respectively , of the cra portfolio were residential mortgage loans ; 26% ( 26 % ) and 13% ( 13 % ) , respectively , were commercial real estate loans ; 16% ( 16 % ) and 18% ( 18 % ) , respectively , were business banking loans ; and 8% ( 8 % ) and 7% ( 7 % ) , respectively , were other loans .", "cra nonaccrual loans were 3% ( 3 % ) and 4% ( 4 % ) , respectively , of the firm 2019s total nonaccrual loans .", "for the years ended december 31 , 2013 and 2012 , net charge-offs in the cra portfolio were 1% ( 1 % ) and 3% ( 3 % ) , respectively , of the firm 2019s net charge-offs in both years. ." ]

[ [ "Year ended December 31,(in millions)", "2013", "2012", "2011" ], [ "Hedges of loans and lending-related commitments", "$(142)", "$(163)", "$(32)" ], [ "CVA and hedges of CVA", "(130)", "127", "(769)" ], [ "Net gains/(losses)", "$(272)", "$(36)", "$(801)" ] ]

[ [ "year ended december 31 ( in millions )", "2013", "2012", "2011" ], [ "hedges of loans and lending-related commitments", "$ -142 ( 142 )", "$ -163 ( 163 )", "$ -32 ( 32 )" ], [ "cva and hedges of cva", "-130 ( 130 )", "127", "-769 ( 769 )" ], [ "net gains/ ( losses )", "$ -272 ( 272 )", "$ -36 ( 36 )", "$ -801 ( 801 )" ] ]

[]

[ "considered to be the primary beneficiary of either entity and have therefore deconsolidated both entities .", "at december 31 , 2010 , we held a 36% ( 36 % ) interest in juniperus which is accounted for using the equity method of accounting .", "our potential loss at december 31 , 2010 is limited to our investment of $ 73 million in juniperus , which is recorded in investments in the consolidated statements of financial position .", "we have not provided any financing to juniperus other than previously contractually required amounts .", "juniperus and jchl had combined assets and liabilities of $ 121 million and $ 22 million , respectively , at december 31 , 2008 .", "for the year ended december 31 , 2009 , we recognized $ 36 million of pretax income from juniperus and jchl .", "we recognized $ 16 million of after-tax income , after allocating the appropriate share of net income to the non-controlling interests .", "we previously owned an 85% ( 85 % ) economic equity interest in globe re limited ( 2018 2018globe re 2019 2019 ) , a vie , which provided reinsurance coverage for a defined portfolio of property catastrophe reinsurance contracts underwritten by a third party for a limited period which ended june 1 , 2009 .", "we consolidated globe re as we were deemed to be the primary beneficiary .", "in connection with the winding up of its operations , globe re repaid its $ 100 million of short-term debt and our equity investment from available cash in 2009 .", "we recognized $ 2 million of after-tax income from globe re in 2009 , taking into account the share of net income attributable to non-controlling interests .", "globe re was fully liquidated in the third quarter of 2009 .", "review by segment general we serve clients through the following segments : 2022 risk solutions ( formerly risk and insurance brokerage services ) acts as an advisor and insurance and reinsurance broker , helping clients manage their risks , via consultation , as well as negotiation and placement of insurance risk with insurance carriers through our global distribution network .", "2022 hr solutions ( formerly consulting ) partners with organizations to solve their most complex benefits , talent and related financial challenges , and improve business performance by designing , implementing , communicating and administering a wide range of human capital , retirement , investment management , health care , compensation and talent management strategies .", "risk solutions ." ]

[ "the demand for property and casualty insurance generally rises as the overall level of economic activity increases and generally falls as such activity decreases , affecting both the commissions and fees generated by our brokerage business .", "the economic activity that impacts property and casualty insurance is described as exposure units , and is most closely correlated with employment levels , corporate revenue and asset values .", "during 2010 we continued to see a 2018 2018soft market 2019 2019 , which began in 2007 , in our retail brokerage product line .", "in a soft market , premium rates flatten or decrease , along with commission revenues , due to increased competition for market share among insurance carriers or increased underwriting capacity .", "changes in premiums have a direct and potentially material impact on the insurance brokerage industry , as commission revenues are generally based on a percentage of the ." ]

[ [ "Years ended December 31,", "2010", "2009", "2008" ], [ "Revenue", "$6,423", "$6,305", "$6,197" ], [ "Operating income", "1,194", "900", "846" ], [ "Operating margin", "18.6%", "14.3%", "13.7%" ] ]

[ [ "years ended december 31,", "2010", "2009", "2008" ], [ "revenue", "$ 6423", "$ 6305", "$ 6197" ], [ "operating income", "1194", "900", "846" ], [ "operating margin", "18.6% ( 18.6 % )", "14.3% ( 14.3 % )", "13.7% ( 13.7 % )" ] ]

[ { "arg1": "6423", "arg2": "6305", "op": "add1-1", "res": "12728" }, { "arg1": "#0", "arg2": "6197", "op": "add1-2", "res": "18925" }, { "arg1": "#1", "arg2": "const_3", "op": "divide1-3", "res": "6308.3" } ]

[ "average age ( yrs. ) highway revenue equipment owned leased total ." ]

[ "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 .", "2014 capital program 2013 during 2014 , our capital program totaled $ 4.1 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 2013 financial condition , item 7. ) 2015 capital plan 2013 in 2015 , we expect our capital plan to be approximately $ 4.3 billion , which will include expenditures for ptc of approximately $ 450 million and may include non-cash investments .", "we may revise our 2015 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 2015 capital plan in management 2019s discussion and analysis of financial condition and results of operations 2013 2015 outlook , item 7. ) equipment encumbrances 2013 equipment with a carrying value of approximately $ 2.8 billion and $ 2.9 billion at december 31 , 2014 , and 2013 , 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. ." ]

[ [ "<i>Highway revenue equipment</i>", "<i>Owned</i>", "<i>Leased</i>", "<i>Total</i>", "<i>Average</i><i>Age (yrs.)</i>" ], [ "Containers", "26,629", "28,306", "54,935", "7.1" ], [ "Chassis", "15,182", "25,951", "41,133", "8.9" ], [ "Total highway revenue equipment", "41,811", "54,257", "96,068", "N/A" ] ]

[ [ "highway revenue equipment", "owned", "leased", "total", "averageage ( yrs. )" ], [ "containers", "26629", "28306", "54935", "7.1" ], [ "chassis", "15182", "25951", "41133", "8.9" ], [ "total highway revenue equipment", "41811", "54257", "96068", "n/a" ] ]

[]

[ "our tax returns are currently under examination in various foreign jurisdictions .", "the major foreign tax jurisdictions under examination include germany , italy and switzerland .", "it is reasonably possible that such audits will be resolved in the next twelve months , but we do not anticipate that the resolution of these audits would result in any material impact on our results of operations or financial position .", "12 .", "capital stock and earnings per share we have 2 million shares of series a participating cumulative preferred stock authorized for issuance , none of which were outstanding as of december 31 , 2007 .", "the numerator for both basic and diluted earnings per share is net earnings available to common stockholders .", "the denominator for basic earnings per share is the weighted average number of common shares outstanding during the period .", "the denominator for diluted earnings per share is weighted average shares outstanding adjusted for the effect of dilutive stock options and other equity awards .", "the following is a reconciliation of weighted average shares for the basic and diluted share computations for the years ending december 31 ( in millions ) : ." ]

[ "weighted average shares outstanding for basic net earnings per share 235.5 243.0 247.1 effect of dilutive stock options and other equity awards 2.0 2.4 2.7 weighted average shares outstanding for diluted net earnings per share 237.5 245.4 249.8 for the year ended december 31 , 2007 , an average of 3.1 million options to purchase shares of common stock were not included in the computation of diluted earnings per share as the exercise prices of these options were greater than the average market price of the common stock .", "for the years ended december 31 , 2006 and 2005 , an average of 7.6 million and 2.9 million options , respectively , were not included .", "in december 2005 , our board of directors authorized a stock repurchase program of up to $ 1 billion through december 31 , 2007 .", "in december 2006 , our board of directors authorized an additional stock repurchase program of up to $ 1 billion through december 31 , 2008 .", "as of december 31 , 2007 we had acquired approximately 19345200 shares at a cost of $ 1378.9 million , before commissions .", "13 .", "segment data we design , develop , manufacture and market reconstructive orthopaedic implants , including joint and dental , spinal implants , trauma products and related orthopaedic surgical products which include surgical supplies and instruments designed to aid in orthopaedic surgical procedures and post-operation rehabilitation .", "we also provide other healthcare related services .", "revenue related to these services currently represents less than 1 percent of our total net sales .", "we manage operations through three major geographic segments 2013 the americas , which is comprised principally of the united states and includes other north , central and south american markets ; europe , which is comprised principally of europe and includes the middle east and africa ; and asia pacific , which is comprised primarily of japan and includes other asian and pacific markets .", "this structure is the basis for our reportable segment information discussed below .", "management evaluates operating segment performance based upon segment operating profit exclusive of operating expenses pertaining to global operations and corporate expenses , share-based compensation expense , settlement , acquisition , integration and other expenses , inventory step-up , in-process research and development write- offs and intangible asset amortization expense .", "global operations include research , development engineering , medical education , brand management , corporate legal , finance , and human resource functions , and u.s .", "and puerto rico based manufacturing operations and logistics .", "intercompany transactions have been eliminated from segment operating profit .", "management reviews accounts receivable , inventory , property , plant and equipment , goodwill and intangible assets by reportable segment exclusive of u.s and puerto rico based manufacturing operations and logistics and corporate assets .", "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 notes to consolidated financial statements ( continued ) ." ]

[ [ "", "2007", "2006", "2005" ], [ "Weighted average shares outstanding for basic net earnings per share", "235.5", "243.0", "247.1" ], [ "Effect of dilutive stock options and other equity awards", "2.0", "2.4", "2.7" ], [ "Weighted average shares outstanding for diluted net earnings per share", "237.5", "245.4", "249.8" ] ]

[ [ "", "2007", "2006", "2005" ], [ "weighted average shares outstanding for basic net earnings per share", "235.5", "243.0", "247.1" ], [ "effect of dilutive stock options and other equity awards", "2.0", "2.4", "2.7" ], [ "weighted average shares outstanding for diluted net earnings per share", "237.5", "245.4", "249.8" ] ]

[]

[ "the following is a reconciliation of the total amounts of unrecognized tax benefits for the year : ( in thousands ) ." ]

[ "included in the balance of unrecognized tax benefits at december 31 , 2008 are $ 5.6 million of tax benefits that , if recognized , would affect the effective tax rate .", "also included in the balance of unrecognized tax benefits at december 31 , 2008 are $ 5.0 million of tax benefits that , if recognized , would result in a decrease to goodwill recorded in purchase business combinations , and $ 1.9 million of tax benefits that , if recognized , would result in adjustments to other tax accounts , primarily deferred taxes .", "the company believes it is reasonably possible that uncertain tax positions of approximately $ 2.6 million as of december 31 , 2008 will be resolved within the next twelve months .", "the company recognizes interest and penalties related to unrecognized tax benefits as income tax expense .", "related to the uncertain tax benefits noted above , the company recorded interest of $ 171000 during 2008 .", "penalties recorded during 2008 were insignificant .", "in total , as of december 31 , 2008 , the company has recognized a liability for penalties of $ 498000 and interest of $ 1.8 million .", "the company is subject to taxation in the u.s .", "and various states and foreign jurisdictions .", "the company 2019s 2005 through 2008 tax years are open to examination by the internal revenue service .", "the 2005 and 2006 federal returns are currently under examination .", "the company also has various foreign subsidiaries with tax filings under examination , as well as numerous foreign and state tax filings subject to examination for various years .", "10 .", "pension and profit-sharing plans the company has 401 ( k ) /profit-sharing plans for all qualifying full-time domestic employees that permit participants to make contributions by salary reduction pursuant to section 401 ( k ) of the internal revenue code .", "the company makes matching contributions on behalf of each eligible participant in an amount equal to 100% ( 100 % ) of the first 3% ( 3 % ) and an additional 25% ( 25 % ) of the next 5% ( 5 % ) , for a maximum total of 4.25% ( 4.25 % ) of the employee 2019s compensation .", "the company may make a discretionary profit sharing contribution in the amount of 0% ( 0 % ) to 5% ( 5 % ) based on the participant 2019s eligible compensation , provided the employee is employed at the end of the year and has worked at least 1000 hours .", "the qualifying domestic employees of the company 2019s ansoft subsidiary , acquired on july 31 , 2008 , also participate in a 401 ( k ) plan .", "there is no matching employer contribution associated with this plan .", "the company also maintains various defined contribution pension arrangements for its international employees .", "expenses related to the company 2019s retirement programs were $ 3.7 million in 2008 , $ 4.7 million in 2007 and $ 4.1 million in 2006 .", "11 .", "non-compete and employment agreements employees of the company have signed agreements under which they have agreed not to disclose trade secrets or confidential information and , where legally permitted , that restrict engagement in or connection with any business that is competitive with the company anywhere in the world while employed by the company ( and ." ]

[ [ "Unrecognized tax benefit—January 1, 2008", "$7,928" ], [ "Ansoft unrecognized tax benefit—acquired July 31, 2008", "3,525" ], [ "Gross increases—tax positions in prior period", "2,454" ], [ "Gross decreases—tax positions in prior period", "(1,572)" ], [ "Gross increases—tax positions in current period", "2,255" ], [ "Reductions due to a lapse of the applicable statute of limitations", "(1,598)" ], [ "Changes due to currency fluctuation", "(259)" ], [ "Settlements", "(317)" ], [ "Unrecognized tax benefit—December 31, 2008", "$12,416" ] ]

[ [ "unrecognized tax benefit 2014january 1 2008", "$ 7928" ], [ "ansoft unrecognized tax benefit 2014acquired july 31 2008", "3525" ], [ "gross increases 2014tax positions in prior period", "2454" ], [ "gross decreases 2014tax positions in prior period", "-1572 ( 1572 )" ], [ "gross increases 2014tax positions in current period", "2255" ], [ "reductions due to a lapse of the applicable statute of limitations", "-1598 ( 1598 )" ], [ "changes due to currency fluctuation", "-259 ( 259 )" ], [ "settlements", "-317 ( 317 )" ], [ "unrecognized tax benefit 2014december 31 2008", "$ 12416" ] ]

[]

[ "average revenue per car 2010 2009 2008 % ( % ) change 2010 v 2009 % ( % ) change 2009 v 2008 ." ]

[ "agricultural products 2013 higher volume , fuel surcharges , and price improvements increased agricultural freight revenue in 2010 versus 2009 .", "increased shipments from the midwest to export ports in the pacific northwest combined with heightened demand in mexico drove higher corn and feed grain shipments in 2010 .", "increased corn and feed grain shipments into ethanol plants in california and idaho and continued growth in ethanol shipments also contributed to this increase .", "in 2009 , some ethanol plants temporarily ceased operations due to lower ethanol margins , which contributed to the favorable year-over-year comparison .", "in addition , strong export demand for u.s .", "wheat via the gulf ports increased shipments of wheat and food grains compared to 2009 .", "declines in domestic wheat and food shipments partially offset the growth in export shipments .", "new business in feed and animal protein shipments also increased agricultural shipments in 2010 compared to 2009 .", "lower volume and fuel surcharges decreased agricultural freight revenue in 2009 versus 2008 .", "price improvements partially offset these declines .", "lower demand in both export and domestic markets led to fewer shipments of corn and feed grains , down 11% ( 11 % ) in 2009 compared to 2008 .", "weaker worldwide demand also reduced export shipments of wheat and food grains in 2009 versus 2008 .", "automotive 2013 37% ( 37 % ) and 24% ( 24 % ) increases in shipments of finished vehicles and automotive parts in 2010 , respectively , combined with core pricing gains and fuel surcharges , improved automotive freight revenue from relatively weak 2009 levels .", "economic conditions in 2009 led to poor auto sales and reduced vehicle production , which in turn reduced shipments of finished vehicles and parts during the declines in shipments of finished vehicles and auto parts and lower fuel surcharges reduced freight revenue in 2009 compared to 2008 .", "vehicle shipments were down 35% ( 35 % ) and parts were down 24% ( 24 % ) .", "core pricing gains partially offset these declines .", "these volume declines resulted from economic conditions that reduced sales and vehicle production .", "in addition , two major domestic automotive manufacturers declared bankruptcy in the second quarter of 2009 , affecting production levels .", "although the federal car allowance rebate system ( the 201ccash for clunkers 201d program ) helped stimulate vehicle sales and shipments in the third quarter of 2009 , production cuts and soft demand throughout the year more than offset the program 2019s benefits .", "2010 agricultural revenue 2010 automotive revenue ." ]

[ [ "<i>Average Revenue per Car</i>", "<i>2010</i>", "<i>2009</i>", "<i>2008</i>", "<i>% Change</i> <i>2010 v 2009</i>", "% Change 2009 v 2008" ], [ "Agricultural", "$3,286", "$3,080", "$3,352", "7%", "(8)%" ], [ "Automotive", "2,082", "1,838", "2,017", "13", "(9)" ], [ "Chemicals", "2,874", "2,761", "2,818", "4", "(2)" ], [ "Energy", "1,697", "1,543", "1,622", "10", "(5)" ], [ "Industrial Products", "2,461", "2,388", "2,620", "3", "(9)" ], [ "Intermodal", "974", "896", "955", "9", "(6)" ], [ "Average", "$1,823", "$1,718", "$1,848", "6%", "(7)%" ] ]

[ [ "average revenue per car", "2010", "2009", "2008", "% ( % ) change 2010 v 2009", "% ( % ) change 2009 v 2008" ], [ "agricultural", "$ 3286", "$ 3080", "$ 3352", "7% ( 7 % )", "( 8 ) % ( % )" ], [ "automotive", "2082", "1838", "2017", "13", "-9 ( 9 )" ], [ "chemicals", "2874", "2761", "2818", "4", "-2 ( 2 )" ], [ "energy", "1697", "1543", "1622", "10", "-5 ( 5 )" ], [ "industrial products", "2461", "2388", "2620", "3", "-9 ( 9 )" ], [ "intermodal", "974", "896", "955", "9", "-6 ( 6 )" ], [ "average", "$ 1823", "$ 1718", "$ 1848", "6% ( 6 % )", "( 7 ) % ( % )" ] ]

[ { "arg1": "3286", "arg2": "3080", "op": "add2-1", "res": "6366" }, { "arg1": "#0", "arg2": "3352", "op": "add2-2", "res": "9718" }, { "arg1": "#1", "arg2": "const_3", "op": "divide2-3", "res": "3239.33" } ]

[ "december 31 , 2008 , 2007 and 2006 , included ( in millions ) : ." ]

[ "included in the gain on disposition , adjustment or impairment of acquired assets and obligations for 2008 is a favorable adjustment to certain liabilities of acquired companies due to changes in circumstances surrounding those liabilities subsequent to the related measurement period .", "included in the gain on disposition , adjustment or impairment of acquired assets and obligations for 2006 is the sale of the former centerpulse austin land and facilities for a gain of $ 5.1 million and the favorable settlement of two pre- acquisition contingent liabilities .", "these gains were offset by a $ 13.4 million impairment charge for certain centerpulse tradename and trademark intangibles based principally in our europe operating segment .", "in-process research and development charges for 2008 are related to the acquisition of abbott spine .", "in-process research and development charges for 2007 are related to the acquisitions of endius and orthosoft .", "consulting and professional fees relate to third- party integration consulting performed in a variety of areas such as tax , compliance , logistics and human resources and legal fees related to matters involving acquired businesses .", "cash and equivalents 2013 we consider all highly liquid investments with an original maturity of three months or less to be cash equivalents .", "the carrying amounts reported in the balance sheet for cash and equivalents are valued at cost , which approximates their fair value .", "restricted cash is primarily composed of cash held in escrow related to certain insurance coverage .", "inventories 2013 inventories , net of allowances for obsolete and slow-moving goods , are stated at the lower of cost or market , with cost determined on a first-in first-out basis .", "property , plant and equipment 2013 property , plant and equipment is carried at cost less accumulated depreciation .", "depreciation is computed using the straight-line method based on estimated useful lives of ten to forty years for buildings and improvements , three to eight years for machinery and equipment .", "maintenance and repairs are expensed as incurred .", "in accordance with statement of financial accounting standards ( 201csfas 201d ) no .", "144 , 201caccounting for the impairment or disposal of long-lived assets , 201d we review property , plant and equipment for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable .", "an impairment loss would be recognized when estimated future undiscounted cash flows relating to the asset are less than its carrying amount .", "an impairment loss is measured as the amount by which the carrying amount of an asset exceeds its fair value .", "software costs 2013 we capitalize certain computer software and software development costs incurred in connection with developing or obtaining computer software for internal use when both the preliminary project stage is completed and it is probable that the software will be used as intended .", "capitalized software costs generally include external direct costs of materials and services utilized in developing or obtaining computer software and compensation and related benefits for employees who are directly associated with the software project .", "capitalized software costs are included in property , plant and equipment on our balance sheet and amortized on a straight-line basis when the software is ready for its intended use over the estimated useful lives of the software , which approximate three to seven years .", "instruments 2013 instruments are hand-held devices used by orthopaedic surgeons during total joint replacement and other surgical procedures .", "instruments are recognized as long-lived assets and are included in property , plant and equipment .", "undeployed instruments are carried at cost , net of allowances for excess and obsolete instruments .", "instruments in the field are carried at cost less accumulated depreciation .", "depreciation is computed using the straight-line method based on average estimated useful lives , determined principally in reference to associated product life cycles , primarily five years .", "we review instruments for impairment in accordance with sfas no .", "144 .", "depreciation of instruments is recognized as selling , general and administrative expense .", "goodwill 2013 we account for goodwill in accordance with sfas no .", "142 , 201cgoodwill and other intangible assets . 201d goodwill is not amortized but is subject to annual impairment tests .", "goodwill has been assigned to reporting units .", "we perform annual impairment tests by comparing each reporting unit 2019s fair value to its carrying amount to determine if there is potential impairment .", "the fair value of the reporting unit and the implied fair value of goodwill are determined based upon a discounted cash flow analysis .", "significant assumptions are incorporated into to these discounted cash flow analyses such as estimated growth rates and risk-adjusted discount rates .", "we perform this test in the fourth quarter of the year .", "if the fair value of the reporting unit is less than its carrying value , an impairment loss is recorded to the extent that the implied fair value of the reporting unit goodwill is less than the carrying value of the reporting unit goodwill .", "intangible assets 2013 we account for intangible assets in accordance with sfas no .", "142 .", "intangible assets are initially measured at their fair value .", "we have determined the fair value of our intangible assets either by the fair value of the z i m m e r h o l d i n g s , i n c .", "2 0 0 8 f o r m 1 0 - k a n n u a l r e p o r t notes to consolidated financial statements ( continued ) %%transmsg*** transmitting job : c48761 pcn : 044000000 ***%%pcmsg|44 |00007|yes|no|02/24/2009 06:10|0|0|page is valid , no graphics -- color : d| ." ]

[ [ "", "2008", "2007", "2006" ], [ "Gain on disposition, adjustment or impairment of acquired assets and obligations", "$(9.0)", "$(1.2)", "$(19.2)" ], [ "Consulting and professional fees", "10.1", "1.0", "8.8" ], [ "Employee severance and retention", "1.9", "1.6", "3.3" ], [ "Information technology integration", "0.9", "2.6", "3.0" ], [ "In-process research & development", "38.5", "6.5", "2.9" ], [ "Integration personnel", "–", "–", "2.5" ], [ "Facility and employee relocation", "7.5", "–", "1.0" ], [ "Distributor acquisitions", "7.3", "4.1", "–" ], [ "Sales agent and lease contract terminations", "8.1", "5.4", "0.2" ], [ "Other", "3.2", "5.2", "3.6" ], [ "Acquisition, Integration and Other", "$68.5", "$25.2", "$6.1" ] ]

[ [ "", "2008", "2007", "2006" ], [ "gain on disposition adjustment or impairment of acquired assets and obligations", "$ -9.0 ( 9.0 )", "$ -1.2 ( 1.2 )", "$ -19.2 ( 19.2 )" ], [ "consulting and professional fees", "10.1", "1.0", "8.8" ], [ "employee severance and retention", "1.9", "1.6", "3.3" ], [ "information technology integration", "0.9", "2.6", "3.0" ], [ "in-process research & development", "38.5", "6.5", "2.9" ], [ "integration personnel", "2013", "2013", "2.5" ], [ "facility and employee relocation", "7.5", "2013", "1.0" ], [ "distributor acquisitions", "7.3", "4.1", "2013" ], [ "sales agent and lease contract terminations", "8.1", "5.4", "0.2" ], [ "other", "3.2", "5.2", "3.6" ], [ "acquisition integration and other", "$ 68.5", "$ 25.2", "$ 6.1" ] ]

[ { "arg1": "3.0", "arg2": "2.6", "op": "minus1-1", "res": "0.4" }, { "arg1": "#0", "arg2": "2.6", "op": "divide1-2", "res": "15.4%" } ]

[ "management 2019s discussion and analysis the table below presents the operating results of our institutional client services segment. ." ]

[ "1 .", "includes net revenues related to reinsurance of $ 1.08 billion , $ 880 million and $ 827 million for the years ended december 2012 , december 2011 and december 2010 , respectively .", "2012 versus 2011 .", "net revenues in institutional client services were $ 18.12 billion for 2012 , 5% ( 5 % ) higher than 2011 .", "net revenues in fixed income , currency and commodities client execution were $ 9.91 billion for 2012 , 10% ( 10 % ) higher than 2011 .", "these results reflected strong net revenues in mortgages , which were significantly higher compared with 2011 .", "in addition , net revenues in credit products and interest rate products were solid and higher compared with 2011 .", "these increases were partially offset by significantly lower net revenues in commodities and slightly lower net revenues in currencies .", "although broad market concerns persisted during 2012 , fixed income , currency and commodities client execution operated in a generally improved environment characterized by tighter credit spreads and less challenging market-making conditions compared with 2011 .", "net revenues in equities were $ 8.21 billion for 2012 , essentially unchanged compared with 2011 .", "net revenues in securities services were significantly higher compared with 2011 , reflecting a gain of approximately $ 500 million on the sale of our hedge fund administration business .", "in addition , equities client execution net revenues were higher than 2011 , primarily reflecting significantly higher results in cash products , principally due to increased levels of client activity .", "these increases were offset by lower commissions and fees , reflecting lower market volumes .", "during 2012 , equities operated in an environment generally characterized by an increase in global equity prices and lower volatility levels .", "the net loss attributable to the impact of changes in our own credit spreads on borrowings for which the fair value option was elected was $ 714 million ( $ 433 million and $ 281 million related to fixed income , currency and commodities client execution and equities client execution , respectively ) for 2012 , compared with a net gain of $ 596 million ( $ 399 million and $ 197 million related to fixed income , currency and commodities client execution and equities client execution , respectively ) for 2011 .", "during 2012 , institutional client services operated in an environment generally characterized by continued broad market concerns and uncertainties , although positive developments helped to improve market conditions .", "these developments included certain central bank actions to ease monetary policy and address funding risks for european financial institutions .", "in addition , the u.s .", "economy posted stable to improving economic data , including favorable developments in unemployment and housing .", "these improvements resulted in tighter credit spreads , higher global equity prices and lower levels of volatility .", "however , concerns about the outlook for the global economy and continued political uncertainty , particularly the political debate in the united states surrounding the fiscal cliff , generally resulted in client risk aversion and lower activity levels .", "also , uncertainty over financial regulatory reform persisted .", "if these concerns and uncertainties continue over the long term , net revenues in fixed income , currency and commodities client execution and equities would likely be negatively impacted .", "operating expenses were $ 12.48 billion for 2012 , 3% ( 3 % ) lower than 2011 , primarily due to lower brokerage , clearing , exchange and distribution fees , and lower impairment charges , partially offset by higher net provisions for litigation and regulatory proceedings .", "pre-tax earnings were $ 5.64 billion in 2012 , 27% ( 27 % ) higher than 2011 .", "2011 versus 2010 .", "net revenues in institutional client services were $ 17.28 billion for 2011 , 21% ( 21 % ) lower than 2010 .", "net revenues in fixed income , currency and commodities client execution were $ 9.02 billion for 2011 , 34% ( 34 % ) lower than 2010 .", "although activity levels during 2011 were generally consistent with 2010 levels , and results were solid during the first quarter of 2011 , the environment during the remainder of 2011 was characterized by broad market concerns and uncertainty , resulting in volatile markets and significantly wider credit spreads , which contributed to difficult market-making conditions and led to reductions in risk by us and our clients .", "as a result of these conditions , net revenues across the franchise were lower , including significant declines in mortgages and credit products , compared with 2010 .", "54 goldman sachs 2012 annual report ." ]

[ [ "", "Year Ended December" ], [ "<i>in millions</i>", "2012", "2011", "2010" ], [ "Fixed Income, Currency and Commodities Client Execution", "$ 9,914", "$ 9,018", "$13,707" ], [ "Equities client execution¹", "3,171", "3,031", "3,231" ], [ "Commissions and fees", "3,053", "3,633", "3,426" ], [ "Securities services", "1,986", "1,598", "1,432" ], [ "Total Equities", "8,210", "8,262", "8,089" ], [ "Total net revenues", "18,124", "17,280", "21,796" ], [ "Operating expenses", "12,480", "12,837", "14,994" ], [ "Pre-tax earnings", "$ 5,644", "$ 4,443", "$ 6,802" ] ]

[ [ "in millions", "year ended december 2012", "year ended december 2011", "year ended december 2010" ], [ "fixed income currency and commodities client execution", "$ 9914", "$ 9018", "$ 13707" ], [ "equities client execution1", "3171", "3031", "3231" ], [ "commissions and fees", "3053", "3633", "3426" ], [ "securities services", "1986", "1598", "1432" ], [ "total equities", "8210", "8262", "8089" ], [ "total net revenues", "18124", "17280", "21796" ], [ "operating expenses", "12480", "12837", "14994" ], [ "pre-tax earnings", "$ 5644", "$ 4443", "$ 6802" ] ]

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[ "note 10 .", "commitments and contingencies credit-related commitments and contingencies : credit-related financial instruments , which are off-balance sheet , include indemnified securities financing , unfunded commitments to extend credit or purchase assets , and standby letters of credit .", "the potential loss associated with indemnified securities financing , unfunded commitments and standby letters of credit is equal to the total gross contractual amount , which does not consider the value of any collateral .", "the following table summarizes the total gross contractual amounts of credit-related off-balance sheet financial instruments at december 31 .", "amounts reported do not reflect participations to independent third parties. ." ]

[ "( 1 ) amount for 2009 excludes agreements related to the commercial paper conduits , which were consolidated in may 2009 ; see note 11 .", "approximately 81% ( 81 % ) of the unfunded commitments to extend credit expire within one year from the date of issue .", "since many of these commitments are expected to expire or renew without being drawn upon , the total commitment amount does not necessarily represent future cash requirements .", "securities finance : on behalf of our customers , we lend their securities to creditworthy brokers and other institutions .", "we generally indemnify our customers for the fair market value of those securities against a failure of the borrower to return such securities .", "collateral funds received in connection with our securities finance services are held by us as agent and are not recorded in our consolidated statement of condition .", "we require the borrowers to provide collateral in an amount equal to or in excess of 100% ( 100 % ) of the fair market value of the securities borrowed .", "the borrowed securities are revalued daily to determine if additional collateral is necessary .", "in this regard , we held , as agent , cash and u.s .", "government securities with an aggregate fair value of $ 375.92 billion and $ 333.07 billion as collateral for indemnified securities on loan at december 31 , 2009 and 2008 , respectively , presented in the table above .", "the collateral held by us is invested on behalf of our customers in accordance with their guidelines .", "in certain cases , the collateral is invested in third-party repurchase agreements , for which we indemnify the customer against loss of the principal invested .", "we require the repurchase agreement counterparty to provide collateral in an amount equal to or in excess of 100% ( 100 % ) of the amount of the repurchase agreement .", "the indemnified repurchase agreements and the related collateral are not recorded in our consolidated statement of condition .", "of the collateral of $ 375.92 billion at december 31 , 2009 and $ 333.07 billion at december 31 , 2008 referenced above , $ 77.73 billion at december 31 , 2009 and $ 68.37 billion at december 31 , 2008 was invested in indemnified repurchase agreements .", "we held , as agent , cash and securities with an aggregate fair value of $ 82.62 billion and $ 71.87 billion as collateral for indemnified investments in repurchase agreements at december 31 , 2009 and december 31 , 2008 , respectively .", "legal proceedings : in the ordinary course of business , we and our subsidiaries are involved in disputes , litigation and regulatory inquiries and investigations , both pending and threatened .", "these matters , if resolved adversely against us , may result in monetary damages , fines and penalties or require changes in our business practices .", "the resolution of these proceedings is inherently difficult to predict .", "however , we do not believe that the amount of any judgment , settlement or other action arising from any pending proceeding will have a material adverse effect on our consolidated financial condition , although the outcome of certain of the matters described below may have a material adverse effect on our consolidated results of operations for the period in which such matter is resolved ." ]

[ [ "(In millions)", "2009", "2008" ], [ "Indemnified securities financing", "$365,251", "$324,590" ], [ "Asset purchase agreements⁽¹⁾", "8,211", "31,780" ], [ "Unfunded commitments to extend credit", "18,078", "20,981" ], [ "Standby letters of credit", "4,784", "6,061" ] ]

[ [ "( in millions )", "2009", "2008" ], [ "indemnified securities financing", "$ 365251", "$ 324590" ], [ "asset purchase agreements ( 1 )", "8211", "31780" ], [ "unfunded commitments to extend credit", "18078", "20981" ], [ "standby letters of credit", "4784", "6061" ] ]

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[ "dividends for a summary of the cash dividends paid on citi 2019s outstanding common stock during 2009 and 2010 , see note 33 to the consolidated financial statements .", "for so long as the u.s .", "government holds any citigroup trust preferred securities acquired pursuant to the exchange offers consummated in 2009 , citigroup has agreed not to pay a quarterly common stock dividend exceeding $ 0.01 per quarter , subject to certain customary exceptions .", "further , any dividend on citi 2019s outstanding common stock would need to be made in compliance with citi 2019s obligations to any remaining outstanding citigroup preferred stock .", "performance graph comparison of five-year cumulative total return the following graph and table compare the cumulative total return on citigroup 2019s common stock with the cumulative total return of the s&p 500 index and the s&p financial index over the five-year period extending through december 31 , 2010 .", "the graph and table assume that $ 100 was invested on december 31 , 2005 in citigroup 2019s common stock , the s&p 500 index and the s&p financial index and that all dividends were reinvested .", "citigroup s&p 500 index s&p financial index comparison of five-year cumulative total return for the years ended 2006 2007 2008 2009 2010 ." ]

[ "." ]

[ [ "DECEMBER 31,", "CITIGROUP", "S&P 500 INDEX", "S&P FINANCIAL INDEX" ], [ "2006", "119.55", "115.79", "119.19" ], [ "2007", "66.10", "122.15", "96.98" ], [ "2008", "15.88", "76.96", "43.34" ], [ "2009", "7.85", "97.33", "50.80" ], [ "2010", "11.22", "111.99", "56.96" ] ]

[ [ "december 31,", "citigroup", "s&p 500 index", "s&p financial index" ], [ "2006", "119.55", "115.79", "119.19" ], [ "2007", "66.10", "122.15", "96.98" ], [ "2008", "15.88", "76.96", "43.34" ], [ "2009", "7.85", "97.33", "50.80" ], [ "2010", "11.22", "111.99", "56.96" ] ]

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[ "operating lease agreements .", "included in these amounts was contingent rent expense of $ 3.6 million , $ 2.0 million and $ 0.6 million for the years ended december 31 , 2011 , 2010 and 2009 , respectively .", "the operating lease obligations included above do not include any contingent rent .", "sponsorships and other marketing commitments within the normal course of business , the company enters into contractual commitments in order to promote the company 2019s brand and products .", "these commitments include sponsorship agreements with teams and athletes on the collegiate and professional levels , official supplier agreements , athletic event sponsorships and other marketing commitments .", "the following is a schedule of the company 2019s future minimum payments under its sponsorship and other marketing agreements as of december 31 , 2011 : ( in thousands ) ." ]

[ "the amounts listed above are the minimum obligations required to be paid under the company 2019s sponsorship and other marketing agreements .", "the amounts listed above do not include additional performance incentives and product supply obligations provided under certain agreements .", "it is not possible to determine how much the company will spend on product supply obligations on an annual basis as contracts generally do not stipulate specific cash amounts to be spent on products .", "the amount of product provided to the sponsorships depends on many factors including general playing conditions , the number of sporting events in which they participate and the company 2019s decisions regarding product and marketing initiatives .", "in addition , the costs to design , develop , source and purchase the products furnished to the endorsers are incurred over a period of time and are not necessarily tracked separately from similar costs incurred for products sold to customers .", "the company is , from time to time , involved in routine legal matters incidental to its business .", "the company believes that the ultimate resolution of any such current proceedings and claims will not have a material adverse effect on its consolidated financial position , results of operations or cash flows .", "in connection with various contracts and agreements , the company has agreed to indemnify counterparties against certain third party claims relating to the infringement of intellectual property rights and other items .", "generally , such indemnification obligations do not apply in situations in which the counterparties are grossly negligent , engage in willful misconduct , or act in bad faith .", "based on the company 2019s historical experience and the estimated probability of future loss , the company has determined that the fair value of such indemnifications is not material to its consolidated financial position or results of operations .", "9 .", "stockholders 2019 equity the company 2019s class a common stock and class b convertible common stock have an authorized number of shares of 100.0 million shares and 11.3 million shares , respectively , and each have a par value of $ 0.0003 1/3 per share .", "holders of class a common stock and class b convertible common stock have identical rights , including liquidation preferences , except that the holders of class a common stock are entitled to one vote per share and holders of class b convertible common stock are entitled to 10 votes per share on all matters submitted to a stockholder vote .", "class b convertible common stock may only be held by kevin plank ." ]

[ [ "2012", "$52,855" ], [ "2013", "46,910" ], [ "2014", "42,514" ], [ "2015", "22,689" ], [ "2016", "3,580" ], [ "2017 and thereafter", "966" ], [ "Total future minimum sponsorship and other marketing payments", "$169,514" ] ]

[ [ "2012", "$ 52855" ], [ "2013", "46910" ], [ "2014", "42514" ], [ "2015", "22689" ], [ "2016", "3580" ], [ "2017 and thereafter", "966" ], [ "total future minimum sponsorship and other marketing payments", "$ 169514" ] ]

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[ "equity equity at december 31 , 2014 was $ 6.6 billion , a decrease of $ 1.6 billion from december 31 , 2013 .", "the decrease resulted primarily due to share repurchases of $ 2.3 billion , $ 273 million of dividends to shareholders , and an increase in accumulated other comprehensive loss of $ 760 million , partially offset by net income of $ 1.4 billion .", "the $ 760 million increase in accumulated other comprehensive loss from december 31 , 2013 , primarily reflects the following : 2022 negative net foreign currency translation adjustments of $ 504 million , which are attributable to the strengthening of the u.s .", "dollar against certain foreign currencies , 2022 an increase of $ 260 million in net post-retirement benefit obligations , 2022 net derivative gains of $ 5 million , and 2022 net investment losses of $ 1 million .", "review by segment general we serve clients through the following segments : 2022 risk solutions acts as an advisor and insurance and reinsurance broker , helping clients manage their risks , via consultation , as well as negotiation and placement of insurance risk with insurance carriers through our global distribution network .", "2022 hr solutions partners with organizations to solve their most complex benefits , talent and related financial challenges , and improve business performance by designing , implementing , communicating and administering a wide range of human capital , retirement , investment management , health care , compensation and talent management strategies .", "risk solutions ." ]

[ "the demand for property and casualty insurance generally rises as the overall level of economic activity increases and generally falls as such activity decreases , affecting both the commissions and fees generated by our brokerage business .", "the economic activity that impacts property and casualty insurance is described as exposure units , and is most closely correlated with employment levels , corporate revenue and asset values .", "during 2014 , pricing was flat on average globally , and we would still consider this to be a \"soft market.\" in a soft market , premium rates flatten or decrease , along with commission revenues , due to increased competition for market share among insurance carriers or increased underwriting capacity .", "changes in premiums have a direct and potentially material impact on the insurance brokerage industry , as commission revenues are generally based on a percentage of the premiums paid by insureds .", "additionally , continuing through 2014 , we faced difficult conditions as a result of continued weakness in the global economy , the repricing of credit risk and the deterioration of the financial markets .", "weak economic conditions in many markets around the globe have reduced our customers' demand for our retail brokerage and reinsurance brokerage products , which have had a negative impact on our operational results .", "risk solutions generated approximately 65% ( 65 % ) of our consolidated total revenues in 2014 .", "revenues are generated primarily through fees paid by clients , commissions and fees paid by insurance and reinsurance companies , and investment income on funds held on behalf of clients .", "our revenues vary from quarter to quarter throughout the year as a result of the timing of our clients' policy renewals , the net effect of new and lost business , the timing of services provided to our clients , and the income we earn on investments , which is heavily influenced by short-term interest rates .", "we operate in a highly competitive industry and compete with many retail insurance brokerage and agency firms , as well as with individual brokers , agents , and direct writers of insurance coverage .", "specifically , we address the highly specialized ." ]

[ [ "Years ended December 31(millions, except percentage data)", "2014", "2013", "2012" ], [ "Revenue", "$7,834", "$7,789", "$7,632" ], [ "Operating income", "1,648", "1,540", "1,493" ], [ "Operating margin", "21.0%", "19.8%", "19.6%" ] ]

[ [ "years ended december 31 ( millions except percentage data )", "2014", "2013", "2012" ], [ "revenue", "$ 7834", "$ 7789", "$ 7632" ], [ "operating income", "1648", "1540", "1493" ], [ "operating margin", "21.0% ( 21.0 % )", "19.8% ( 19.8 % )", "19.6% ( 19.6 % )" ] ]

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[ "the weighted average grant date fair value of options granted during 2012 , 2011 , and 2010 was $ 13 , $ 19 and $ 20 per share , respectively .", "the total intrinsic value of options exercised during the years ended december 31 , 2012 , 2011 and 2010 , was $ 19.0 million , $ 4.2 million and $ 15.6 million , respectively .", "in 2012 , the company granted 931340 shares of restricted class a common stock and 4048 shares of restricted stock units .", "restricted common stock and restricted stock units generally have a vesting period of 2 to 4 years .", "the fair value related to these grants was $ 54.5 million , which is recognized as compensation expense on an accelerated basis over the vesting period .", "beginning with restricted stock grants in september 2010 , dividends are accrued on restricted class a common stock and restricted stock units and are paid once the restricted stock vests .", "in 2012 , the company also granted 138410 performance shares .", "the fair value related to these grants was $ 7.7 million , which is recognized as compensation expense on an accelerated and straight-lined basis over the vesting period .", "the vesting of these shares is contingent on meeting stated performance or market conditions .", "the following table summarizes restricted stock , restricted stock units , and performance shares activity for 2012 : number of shares weighted average grant date fair value outstanding at december 31 , 2011 .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "1432610 $ 57 ." ]

[ "outstanding at december 31 , 2012 .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "1913527 54 the total fair value of restricted stock , restricted stock units , and performance shares that vested during the years ended december 31 , 2012 , 2011 and 2010 , was $ 20.9 million , $ 11.6 million and $ 10.3 million , respectively .", "eligible employees may acquire shares of class a common stock using after-tax payroll deductions made during consecutive offering periods of approximately six months in duration .", "shares are purchased at the end of each offering period at a price of 90% ( 90 % ) of the closing price of the class a common stock as reported on the nasdaq global select market .", "compensation expense is recognized on the dates of purchase for the discount from the closing price .", "in 2012 , 2011 and 2010 , a total of 27768 , 32085 and 21855 shares , respectively , of class a common stock were issued to participating employees .", "these shares are subject to a six-month holding period .", "annual expense of $ 0.1 million , $ 0.2 million and $ 0.1 million for the purchase discount was recognized in 2012 , 2011 and 2010 , respectively .", "non-executive directors receive an annual award of class a common stock with a value equal to $ 75000 .", "non-executive directors may also elect to receive some or all of the cash portion of their annual stipend , up to $ 25000 , in shares of stock based on the closing price at the date of distribution .", "as a result , 40260 , 40585 and 37350 shares of class a common stock were issued to non-executive directors during 2012 , 2011 and 2010 , respectively .", "these shares are not subject to any vesting restrictions .", "expense of $ 2.2 million , $ 2.1 million and $ 2.4 million related to these stock-based payments was recognized for the years ended december 31 , 2012 , 2011 and 2010 , respectively .", "19 .", "fair value measurements in general , the company uses quoted prices in active markets for identical assets to determine the fair value of marketable securities and equity investments .", "level 1 assets generally include u.s .", "treasury securities , equity securities listed in active markets , and investments in publicly traded mutual funds with quoted market prices .", "if quoted prices are not available to determine fair value , the company uses other inputs that are directly observable .", "assets included in level 2 generally consist of asset- backed securities , municipal bonds , u.s .", "government agency securities and interest rate swap contracts .", "asset-backed securities , municipal bonds and u.s .", "government agency securities were measured at fair value based on matrix pricing using prices of similar securities with similar inputs such as maturity dates , interest rates and credit ratings .", "the company determined the fair value of its interest rate swap contracts using standard valuation models with market-based observable inputs including forward and spot exchange rates and interest rate curves. ." ]

[ [ "", "Number of Shares", "WeightedAverageGrant DateFair Value" ], [ "Outstanding at December 31, 2011", "1,432,610", "$57" ], [ "Granted", "1,073,798", "54" ], [ "Vested", "(366,388)", "55" ], [ "Cancelled", "(226,493)", "63" ], [ "Outstanding at December 31, 2012", "1,913,527", "54" ] ]

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[ "general market conditions affecting trust asset performance , future discount rates based on average yields of high quality corporate bonds and our decisions regarding certain elective provisions of the we currently project that we will make total u.s .", "and foreign benefit plan contributions in 2014 of approximately $ 57 million .", "actual 2014 contributions could be different from our current projections , as influenced by our decision to undertake discretionary funding of our benefit trusts versus other competing investment priorities , future changes in government requirements , trust asset performance , renewals of union contracts , or higher-than-expected health care claims cost experience .", "we measure cash flow as net cash provided by operating activities reduced by expenditures for property additions .", "we use this non-gaap financial measure of cash flow to focus management and investors on the amount of cash available for debt repayment , dividend distributions , acquisition opportunities , and share repurchases .", "our cash flow metric is reconciled to the most comparable gaap measure , as follows: ." ]

[ "year-over-year change ( 4.5 ) % ( % ) 22.4% ( 22.4 % ) the decrease in cash flow ( as defined ) in 2013 compared to 2012 was due primarily to higher capital expenditures .", "the increase in cash flow in 2012 compared to 2011 was driven by improved performance in working capital resulting from the one-time benefit derived from the pringles acquisition , as well as changes in the level of capital expenditures during the three-year period .", "investing activities our net cash used in investing activities for 2013 amounted to $ 641 million , a decrease of $ 2604 million compared with 2012 primarily attributable to the $ 2668 million acquisition of pringles in 2012 .", "capital spending in 2013 included investments in our supply chain infrastructure , and to support capacity requirements in certain markets , including pringles .", "in addition , we continued the investment in our information technology infrastructure related to the reimplementation and upgrade of our sap platform .", "net cash used in investing activities of $ 3245 million in 2012 increased by $ 2658 million compared with 2011 , due to the acquisition of pringles in 2012 .", "cash paid for additions to properties as a percentage of net sales has increased to 4.3% ( 4.3 % ) in 2013 , from 3.8% ( 3.8 % ) in 2012 , which was a decrease from 4.5% ( 4.5 % ) in financing activities our net cash used by financing activities was $ 1141 million for 2013 , compared to net cash provided by financing activities of $ 1317 million for 2012 and net cash used in financing activities of $ 957 million for 2011 .", "the increase in cash provided from financing activities in 2012 compared to 2013 and 2011 , was primarily due to the issuance of debt related to the acquisition of pringles .", "total debt was $ 7.4 billion at year-end 2013 and $ 7.9 billion at year-end 2012 .", "in february 2013 , we issued $ 250 million of two-year floating-rate u.s .", "dollar notes , and $ 400 million of ten-year 2.75% ( 2.75 % ) u.s .", "dollar notes , resulting in aggregate net proceeds after debt discount of $ 645 million .", "the proceeds from these notes were used for general corporate purposes , including , together with cash on hand , repayment of the $ 750 million aggregate principal amount of our 4.25% ( 4.25 % ) u.s .", "dollar notes due march 2013 .", "in may 2012 , we issued $ 350 million of three-year 1.125% ( 1.125 % ) u.s .", "dollar notes , $ 400 million of five-year 1.75% ( 1.75 % ) u.s .", "dollar notes and $ 700 million of ten-year 3.125% ( 3.125 % ) u.s .", "dollar notes , resulting in aggregate net proceeds after debt discount of $ 1.442 billion .", "the proceeds of these notes were used for general corporate purposes , including financing a portion of the acquisition of pringles .", "in may 2012 , we issued cdn .", "$ 300 million of two-year 2.10% ( 2.10 % ) fixed rate canadian dollar notes , using the proceeds from these notes for general corporate purposes , which included repayment of intercompany debt .", "this repayment resulted in cash available to be used for a portion of the acquisition of pringles .", "in december 2012 , we repaid $ 750 million five-year 5.125% ( 5.125 % ) u.s .", "dollar notes at maturity with commercial paper .", "in april 2011 , we repaid $ 945 million ten-year 6.60% ( 6.60 % ) u.s .", "dollar notes at maturity with commercial paper .", "in may 2011 , we issued $ 400 million of seven-year 3.25% ( 3.25 % ) fixed rate u.s .", "dollar notes , using the proceeds of $ 397 million for general corporate purposes and repayment of commercial paper .", "in november 2011 , we issued $ 500 million of five-year 1.875% ( 1.875 % ) fixed rate u .", "s .", "dollar notes , using the proceeds of $ 498 million for general corporate purposes and repayment of commercial paper. ." ]

[ [ "(dollars in millions)", "2013", "2012", "2011" ], [ "Net cash provided by operating activities", "$1,807", "$1,758", "$1,595" ], [ "Additions to properties", "(637)", "(533)", "(594)" ], [ "Cash flow", "$1,170", "$1,225", "$1,001" ], [ "<i>year-over-year change</i>", "(4.5)%", "22.4%", "" ] ]

[ [ "( dollars in millions )", "2013", "2012", "2011" ], [ "net cash provided by operating activities", "$ 1807", "$ 1758", "$ 1595" ], [ "additions to properties", "-637 ( 637 )", "-533 ( 533 )", "-594 ( 594 )" ], [ "cash flow", "$ 1170", "$ 1225", "$ 1001" ], [ "year-over-year change", "( 4.5 ) % ( % )", "22.4% ( 22.4 % )", "" ] ]

[ { "arg1": "1807", "arg2": "1595", "op": "minus1-1", "res": "212" }, { "arg1": "#0", "arg2": "1595", "op": "divide1-2", "res": ".1329" } ]

[ "united parcel service , inc .", "and subsidiaries management's discussion and analysis of financial condition and results of operations liquidity and capital resources operating activities the following is a summary of the significant sources ( uses ) of cash from operating activities ( amounts in millions ) : ." ]

[ "( a ) represents depreciation and amortization , gains and losses on derivative and foreign exchange transactions , deferred income taxes , provisions for uncollectible accounts , pension and postretirement benefit expense , stock compensation expense , impairment charges and other non-cash items .", "cash from operating activities remained strong throughout the 2011 to 2013 time period .", "operating cash flow was favorably impacted in 2013 , compared with 2012 , by lower contributions into our defined benefit pension and postretirement benefit plans ; however , this was partially offset by certain tnt express transaction-related charges , as well as changes in income tax receivables and payables .", "we paid a termination fee to tnt express of 20ac200 million ( $ 268 million ) under the agreement to terminate the merger protocol in the first quarter of 2013 .", "additionally , the cash payments for income taxes increased in 2013 compared with 2012 , and were impacted by the timing of current tax deductions .", "except for discretionary or accelerated fundings of our plans , contributions to our company-sponsored pension plans have largely varied based on whether any minimum funding requirements are present for individual pension plans .", "2022 in 2013 , we did not have any required , nor make any discretionary , contributions to our primary company-sponsored pension plans in the u.s .", "2022 in 2012 , we made a $ 355 million required contribution to the ups ibt pension plan .", "2022 in 2011 , we made a $ 1.2 billion contribution to the ups ibt pension plan , which satisfied our 2011 contribution requirements and also approximately $ 440 million in contributions that would not have been required until after 2011 .", "2022 the remaining contributions in the 2011 through 2013 period were largely due to contributions to our international pension plans and u.s .", "postretirement medical benefit plans .", "as discussed further in the 201ccontractual commitments 201d section , we have minimum funding requirements in the next several years , primarily related to the ups ibt pension , ups retirement and ups pension plans .", "as of december 31 , 2013 , the total of our worldwide holdings of cash and cash equivalents was $ 4.665 billion .", "approximately 45%-55% ( 45%-55 % ) of cash and cash equivalents was held by foreign subsidiaries throughout the year .", "the amount of cash held by our u.s .", "and foreign subsidiaries fluctuates throughout the year due to a variety of factors , including the timing of cash receipts and disbursements in the normal course of business .", "cash provided by operating activities in the united states continues to be our primary source of funds to finance domestic operating needs , capital expenditures , share repurchases and dividend payments to shareowners .", "to the extent that such amounts represent previously untaxed earnings , the cash held by foreign subsidiaries would be subject to tax if such amounts were repatriated in the form of dividends ; however , not all international cash balances would have to be repatriated in the form of a dividend if returned to the u.s .", "when amounts earned by foreign subsidiaries are expected to be indefinitely reinvested , no accrual for taxes is provided. ." ]

[ [ "", "2013", "2012", "2011" ], [ "Net income", "$4,372", "$807", "$3,804" ], [ "Non-cash operating activities(a)", "3,318", "7,313", "4,578" ], [ "Pension and postretirement plan contributions (UPS-sponsored plans)", "(212)", "(917)", "(1,436)" ], [ "Income tax receivables and payables", "(155)", "280", "236" ], [ "Changes in working capital and other noncurrent assets and liabilities", "121", "(148)", "(12)" ], [ "Other operating activities", "(140)", "(119)", "(97)" ], [ "Net cash from operating activities", "$7,304", "$7,216", "$7,073" ] ]

[ [ "", "2013", "2012", "2011" ], [ "net income", "$ 4372", "$ 807", "$ 3804" ], [ "non-cash operating activities ( a )", "3318", "7313", "4578" ], [ "pension and postretirement plan contributions ( ups-sponsored plans )", "-212 ( 212 )", "-917 ( 917 )", "-1436 ( 1436 )" ], [ "income tax receivables and payables", "-155 ( 155 )", "280", "236" ], [ "changes in working capital and other noncurrent assets and liabilities", "121", "-148 ( 148 )", "-12 ( 12 )" ], [ "other operating activities", "-140 ( 140 )", "-119 ( 119 )", "-97 ( 97 )" ], [ "net cash from operating activities", "$ 7304", "$ 7216", "$ 7073" ] ]

[ { "arg1": "7216", "arg2": "7073", "op": "minus1-1", "res": "143" }, { "arg1": "#0", "arg2": "7073", "op": "divide1-2", "res": "2%" } ]

[ "december 31 , 2015 carrying amount accumulated amortization ." ]

[ "computer software consists primarily of software costs associated with an enterprise business solution ( ebs ) within arconic to drive common systems among all businesses .", "amortization expense related to the intangible assets in the tables above for the years ended december 31 , 2016 , 2015 , and 2014 was $ 65 , $ 67 , and $ 55 , respectively , and is expected to be in the range of approximately $ 56 to $ 64 annually from 2017 to 2021 .", "f .", "acquisitions and divestitures pro forma results of the company , assuming all acquisitions described below were made at the beginning of the earliest prior period presented , would not have been materially different from the results reported .", "2016 divestitures .", "in april 2016 , arconic completed the sale of the remmele medical business to lisi medical for $ 102 in cash ( $ 99 net of transaction costs ) , which was included in proceeds from the sale of assets and businesses on the accompanying statement of consolidated cash flows .", "this business , which was part of the rti international metals inc .", "( rti ) acquisition ( see below ) , manufactures precision-machined metal products for customers in the minimally invasive surgical device and implantable device markets .", "since this transaction occurred within a year of the completion of the rti acquisition , no gain was recorded on this transaction as the excess of the proceeds over the carrying value of the net assets of this business was reflected as a purchase price adjustment ( decrease to goodwill of $ 44 ) to the final allocation of the purchase price related to arconic 2019s acquisition of rti .", "while owned by arconic , the operating results and assets and liabilities of this business were included in the engineered products and solutions segment .", "this business generated sales of approximately $ 20 from january 1 , 2016 through the divestiture date , april 29 , 2016 , and , at the time of the divestiture , had approximately 330 employees .", "this transaction is no longer subject to post-closing adjustments .", "2015 acquisitions .", "in march 2015 , arconic completed the acquisition of an aerospace structural castings company , tital , for $ 204 ( 20ac188 ) in cash ( an additional $ 1 ( 20ac1 ) was paid in september 2015 to settle working capital in accordance with the purchase agreement ) .", "tital , a privately held company with approximately 650 employees based in germany , produces aluminum and titanium investment casting products for the aerospace and defense markets .", "the purpose of this acquisition is to capture increasing demand for advanced jet engine components made of titanium , establish titanium-casting capabilities in europe , and expand existing aluminum casting capacity .", "the assets , including the associated goodwill , and liabilities of this business were included within arconic 2019s engineered products and solutions segment since the date of acquisition .", "based on the preliminary allocation of the purchase price , goodwill of $ 118 was recorded for this transaction .", "in the first quarter of 2016 , the allocation of the purchase price was finalized , based , in part , on the completion of a third-party valuation of certain assets acquired , resulting in a $ 1 reduction of the initial goodwill amount .", "none of the $ 117 in goodwill is deductible for income tax purposes and no other intangible assets were identified .", "this transaction is no longer subject to post-closing adjustments .", "in july 2015 , arconic completed the acquisition of rti , a u.s .", "company that was publicly traded on the new york stock exchange under the ticker symbol 201crti . 201d arconic purchased all outstanding shares of rti common stock in a stock-for-stock transaction valued at $ 870 ( based on the $ 9.96 per share july 23 , 2015 closing price of arconic 2019s ." ]

[ [ "December 31, 2015", "Gross carrying amount", "Accumulated amortization" ], [ "Computer software", "$793", "$(643)" ], [ "Patents and licenses", "110", "(98)" ], [ "Other intangibles (F)", "961", "(64)" ], [ "Total amortizable intangible assets", "1,864", "(805)" ], [ "Indefinite-lived trade names and trademarks", "45", "-" ], [ "Total other intangible assets", "$1,909", "$(805)" ] ]

[ [ "december 31 2015", "gross carrying amount", "accumulated amortization" ], [ "computer software", "$ 793", "$ -643 ( 643 )" ], [ "patents and licenses", "110", "-98 ( 98 )" ], [ "other intangibles ( f )", "961", "-64 ( 64 )" ], [ "total amortizable intangible assets", "1864", "-805 ( 805 )" ], [ "indefinite-lived trade names and trademarks", "45", "-" ], [ "total other intangible assets", "$ 1909", "$ -805 ( 805 )" ] ]

[]

[ "contractual obligations in 2011 , we issued $ 1200 million of senior notes and entered into the credit facility with third-party lenders in the amount of $ 1225 million .", "as of december 31 , 2011 , total outstanding long-term debt was $ 1859 million , consisting of these senior notes and the credit facility , in addition to $ 105 million of third party debt that remained outstanding subsequent to the spin-off .", "in connection with the spin-off , we entered into a transition services agreement with northrop grumman , under which northrop grumman or certain of its subsidiaries provides us with certain services to help ensure an orderly transition following the distribution .", "under the transition services agreement , northrop grumman provides , for up to 12 months following the spin-off , certain enterprise shared services ( including information technology , resource planning , financial , procurement and human resource services ) , benefits support services and other specified services .", "the original term of the transition services agreement ends on march 31 , 2012 , although we have the right to and have cancelled certain services as we transition to new third-party providers .", "the services provided by northrop grumman are charged to us at cost , and a limited number of these services may be extended for a period of approximately six months to allow full information systems transition .", "see note 20 : related party transactions and former parent company equity in item 8 .", "in connection with the spin-off , we entered into a tax matters agreement with northrop grumman ( the 201ctax matters agreement 201d ) that governs the respective rights , responsibilities and obligations of northrop grumman and us after the spin-off with respect to tax liabilities and benefits , tax attributes , tax contests and other tax sharing regarding u.s .", "federal , state , local and foreign income taxes , other taxes and related tax returns .", "we have several liabilities with northrop grumman to the irs for the consolidated u.s .", "federal income taxes of the northrop grumman consolidated group relating to the taxable periods in which we were part of that group .", "however , the tax matters agreement specifies the portion of this tax liability for which we will bear responsibility , and northrop grumman has agreed to indemnify us against any amounts for which we are not responsible .", "the tax matters agreement also provides special rules for allocating tax liabilities in the event that the spin-off , together with certain related transactions , is not tax-free .", "see note 20 : related party transactions and former parent company equity in item 8 .", "we do not expect either the transition services agreement or the tax matters agreement to have a significant impact on our financial condition and results of operations .", "the following table presents our contractual obligations as of december 31 , 2011 , and the related estimated timing of future cash payments : ( $ in millions ) total 2012 2013 - 2014 2015 - 2016 2017 and beyond ." ]

[ "( 1 ) interest payments include interest on $ 554 million of variable interest rate debt calculated based on interest rates at december 31 , 2011 .", "( 2 ) a 201cpurchase obligation 201d is defined as an agreement to purchase goods or services that is enforceable and legally binding on us and that specifies all significant terms , including : fixed or minimum quantities to be purchased ; fixed , minimum , or variable price provisions ; and the approximate timing of the transaction .", "these amounts are primarily comprised of open purchase order commitments to vendors and subcontractors pertaining to funded contracts .", "( 3 ) other long-term liabilities primarily consist of total accrued workers 2019 compensation reserves , deferred compensation , and other miscellaneous liabilities , of which $ 201 million is the current portion of workers 2019 compensation liabilities .", "it excludes obligations for uncertain tax positions of $ 9 million , as the timing of the payments , if any , cannot be reasonably estimated .", "the above table excludes retirement related contributions .", "in 2012 , we expect to make minimum and discretionary contributions to our qualified pension plans of approximately $ 153 million and $ 65 million , respectively , exclusive of any u.s .", "government recoveries .", "we will continue to periodically evaluate whether to make additional discretionary contributions .", "in 2012 , we expect to make $ 35 million in contributions for our other postretirement plans , exclusive of any ." ]

[ [ "($ in millions)", "Total", "2012", "2013 - 2014", "2015 - 2016", "2017 and beyond" ], [ "Long-term debt", "$1,859", "$29", "$129", "$396", "$1,305" ], [ "Interest payments on long-term debt (1)", "854", "112", "219", "202", "321" ], [ "Operating leases", "124", "21", "32", "23", "48" ], [ "Purchase obligations (2)", "2,425", "1,409", "763", "209", "44" ], [ "Other long-term liabilities (3)", "587", "66", "96", "67", "358" ], [ "Total contractual obligations", "$5,849", "$1,637", "$1,239", "$897", "$2,076" ] ]

[ [ "( $ in millions )", "total", "2012", "2013 - 2014", "2015 - 2016", "2017 and beyond" ], [ "long-term debt", "$ 1859", "$ 29", "$ 129", "$ 396", "$ 1305" ], [ "interest payments on long-term debt ( 1 )", "854", "112", "219", "202", "321" ], [ "operating leases", "124", "21", "32", "23", "48" ], [ "purchase obligations ( 2 )", "2425", "1409", "763", "209", "44" ], [ "other long-term liabilities ( 3 )", "587", "66", "96", "67", "358" ], [ "total contractual obligations", "$ 5849", "$ 1637", "$ 1239", "$ 897", "$ 2076" ] ]

[]

[ "financial assurance we must provide financial assurance to governmental agencies and a variety of other entities under applicable environmental regulations relating to our landfill operations for capping , closure and post-closure costs , and related to our performance under certain collection , landfill and transfer station contracts .", "we satisfy these financial assurance requirements by providing surety bonds , letters of credit , or insurance policies ( financial assurance instruments ) , or trust deposits , which are included in restricted cash and marketable securities and other assets in our consolidated balance sheets .", "the amount of the financial assurance requirements for capping , closure and post-closure costs is determined by applicable state environmental regulations .", "the financial assurance requirements for capping , closure and post-closure costs may be associated with a portion of the landfill or the entire landfill .", "generally , states require a third-party engineering specialist to determine the estimated capping , closure and post-closure costs that are used to determine the required amount of financial assurance for a landfill .", "the amount of financial assurance required can , and generally will , differ from the obligation determined and recorded under u.s .", "gaap .", "the amount of the financial assurance requirements related to contract performance varies by contract .", "additionally , we must provide financial assurance for our insurance program and collateral for certain performance obligations .", "we do not expect a material increase in financial assurance requirements during 2015 , although the mix of financial assurance instruments may change .", "these financial assurance instruments are issued in the normal course of business and are not considered indebtedness .", "because we currently have no liability for the financial assurance instruments , they are not reflected in our consolidated balance sheets ; however , we record capping , closure and post-closure liabilities and insurance liabilities as they are incurred .", "the underlying obligations of the financial assurance instruments , in excess of those already reflected in our consolidated balance sheets , would be recorded if it is probable that we would be unable to fulfill our related obligations .", "we do not expect this to occur .", "off-balance sheet arrangements we have no off-balance sheet debt or similar obligations , other than operating leases and financial assurances , which are not classified as debt .", "we have no transactions or obligations with related parties that are not disclosed , consolidated into or reflected in our reported financial position or results of operations .", "we have not guaranteed any third-party debt .", "free cash flow we define free cash flow , which is not a measure determined in accordance with u.s .", "gaap , as cash provided by operating activities less purchases of property and equipment , plus proceeds from sales of property and equipment , as presented in our consolidated statements of cash flows .", "the following table calculates our free cash flow for the years ended december 31 , 2014 , 2013 and 2012 ( in millions of dollars ) : ." ]

[ "for a discussion of the changes in the components of free cash flow , you should read our discussion regarding cash flows provided by operating activities and cash flows used in investing activities contained elsewhere in this management 2019s discussion and analysis of financial condition and results of operations. ." ]

[ [ "", "2014", "2013", "2012" ], [ "Cash provided by operating activities", "$1,529.8", "$1,548.2", "$1,513.8" ], [ "Purchases of property and equipment", "(862.5)", "(880.8)", "(903.5)" ], [ "Proceeds from sales of property and equipment", "35.7", "23.9", "28.7" ], [ "Free cash flow", "$703.0", "$691.3", "$639.0" ] ]

[ [ "", "2014", "2013", "2012" ], [ "cash provided by operating activities", "$ 1529.8", "$ 1548.2", "$ 1513.8" ], [ "purchases of property and equipment", "-862.5 ( 862.5 )", "-880.8 ( 880.8 )", "-903.5 ( 903.5 )" ], [ "proceeds from sales of property and equipment", "35.7", "23.9", "28.7" ], [ "free cash flow", "$ 703.0", "$ 691.3", "$ 639.0" ] ]

[]

[ "shareowner return performance graph the following performance graph and related information shall not be deemed 201csoliciting material 201d or to be 201cfiled 201d with the securities and exchange commission , nor shall such information be incorporated by reference into any future filing under the securities act of 1933 or securities exchange act of 1934 , each as amended , except to the extent that the company specifically incorporates such information by reference into such filing .", "the following graph shows a five year comparison of cumulative total shareowners 2019 returns for our class b common stock , the standard & poor 2019s 500 index , and the dow jones transportation average .", "the comparison of the total cumulative return on investment , which is the change in the quarterly stock price plus reinvested dividends for each of the quarterly periods , assumes that $ 100 was invested on december 31 , 2005 in the standard & poor 2019s 500 index , the dow jones transportation average , and our class b common stock .", "comparison of five year cumulative total return $ 40.00 $ 60.00 $ 80.00 $ 100.00 $ 120.00 $ 140.00 $ 160.00 201020092008200720062005 s&p 500 ups dj transport ." ]

[ "." ]

[ [ "", "12/31/05", "12/31/06", "12/31/07", "12/31/08", "12/31/09", "12/31/10" ], [ "United Parcel Service, Inc.", "$100.00", "$101.76", "$98.20", "$78.76", "$84.87", "$110.57" ], [ "Standard & Poor’s 500 Index", "$100.00", "$115.79", "$122.16", "$76.96", "$97.33", "$111.99" ], [ "Dow Jones Transportation Average", "$100.00", "$109.82", "$111.38", "$87.52", "$103.79", "$131.59" ] ]

[ [ "", "12/31/05", "12/31/06", "12/31/07", "12/31/08", "12/31/09", "12/31/10" ], [ "united parcel service inc .", "$ 100.00", "$ 101.76", "$ 98.20", "$ 78.76", "$ 84.87", "$ 110.57" ], [ "standard & poor 2019s 500 index", "$ 100.00", "$ 115.79", "$ 122.16", "$ 76.96", "$ 97.33", "$ 111.99" ], [ "dow jones transportation average", "$ 100.00", "$ 109.82", "$ 111.38", "$ 87.52", "$ 103.79", "$ 131.59" ] ]

[ { "arg1": "110.57", "arg2": "const_100", "op": "minus1-1", "res": "10.57" }, { "arg1": "#0", "arg2": "const_100", "op": "divide1-2", "res": "10.57%" } ]

[ "in addition , the company has reclassified the following amounts from 201cdistributions from other invested assets 201d included in cash flows from investing activities to 201cdistribution of limited partnership income 201d included in cash flows from operations for interim reporting periods of 2013 : $ 33686 thousand for the three months ended march 31 , 2013 ; $ 9409 thousand and $ 43095 thousand for the three months and six months ended june 30 , 2013 , respectively ; and $ 5638 thousand and $ 48733 thousand for the three months and nine months ended september 30 , 2013 , respectively .", "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 , rabbi trusts and an affiliated entity .", "limited partnerships and the affiliated entity 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. ." ]

[ "." ]

[ [ "", "Years Ended December 31," ], [ "(Dollars in thousands)", "2013", "2012" ], [ "Reinsurance receivables and premium receivables", "$29,905", "$32,011" ] ]

[ [ "( dollars in thousands )", "years ended december 31 , 2013", "years ended december 31 , 2012" ], [ "reinsurance receivables and premium receivables", "$ 29905", "$ 32011" ] ]

[ { "arg1": "29905", "arg2": "32011", "op": "minus2-1", "res": "-2106" }, { "arg1": "#0", "arg2": "32011", "op": "divide2-2", "res": "-6.6%" } ]

[ "a black-scholes option-pricing model was used for purposes of estimating the fair value of state street 2019s employee stock options at the grant date .", "the following were the weighted average assumptions for the years ended december 31 , 2001 , 2000 and 1999 , respectively : risk-free interest rates of 3.99% ( 3.99 % ) , 5.75% ( 5.75 % ) and 5.90% ( 5.90 % ) ; dividend yields of 1.08% ( 1.08 % ) , .73% ( .73 % ) and .92% ( .92 % ) ; and volatility factors of the expected market price of state street common stock of .30 , .30 and .30 .", "the estimated weighted average life of the stock options granted was 4.1 years for the years ended december 31 , 2001 , 2000 and 1999 .", "o t h e r u n r e a l i z e d c o m p r e h e n s i v e i n c o m e ( l o s s ) at december 31 , the components of other unrealized comprehensive income ( loss ) , net of related taxes , were as follows: ." ]

[ "note j shareholders 2019 rights plan in 1988 , state street declared a dividend of one preferred share purchase right for each outstanding share of common stock .", "in 1998 , the rights agreement was amended and restated , and in 2001 , the rights plan was impacted by the 2-for-1 stock split .", "accordingly , a right may be exercised , under certain conditions , to purchase one eight-hundredths share of a series of participating preferred stock at an exercise price of $ 132.50 , subject to adjustment .", "the rights become exercisable if a party acquires or obtains the right to acquire 10% ( 10 % ) or more of state street 2019s common stock or after commencement or public announcement of an offer for 10% ( 10 % ) or more of state street 2019s common stock .", "when exercisable , under certain conditions , each right entitles the holder thereof to purchase shares of common stock , of either state street or of the acquirer , having a market value of two times the then-current exercise price of that right .", "the rights expire in september 2008 , and may be redeemed at a price of $ .00125 per right , subject to adjustment , at any time prior to expiration or the acquisition of 10% ( 10 % ) of state street 2019s common stock .", "under certain circumstances , the rights may be redeemed after they become exercisable and may be subject to automatic redemption .", "note k regulatory matters r e g u l a t o r y c a p i t a l state street is subject to various regulatory capital requirements administered by federal banking agencies .", "failure to meet minimum capital requirements can initiate certain mandatory and discretionary actions by regulators that , if undertaken , could have a direct material effect on state street 2019s financial condition .", "under capital adequacy guidelines , state street must meet specific capital guidelines that involve quantitative measures of state street 2019s assets , liabilities and off-balance sheet items as calculated under regulatory accounting practices .", "state street 2019s capital amounts and classification are subject to qualitative judgments by the regulators about components , risk weightings and other factors .", "42 state street corporation ." ]

[ [ "(Dollars in millions)", "2001", "2000" ], [ "Unrealized gain on available-for-sale securities", "$ 96", "$ 19" ], [ "Foreign currency translation", "(27)", "(20)" ], [ "Other", "1", "" ], [ "Total", "$ 70", "$ (1)" ] ]

[ [ "( dollars in millions )", "2001", "2000" ], [ "unrealized gain on available-for-sale securities", "$ 96", "$ 19" ], [ "foreign currency translation", "-27 ( 27 )", "-20 ( 20 )" ], [ "other", "1", "" ], [ "total", "$ 70", "$ -1 ( 1 )" ] ]

[ { "arg1": "96", "arg2": "1", "op": "add1-1", "res": "97" }, { "arg1": "27", "arg2": "#0", "op": "divide1-2", "res": ".2784" } ]

[ "2010 .", "on november 1 , 2010 , we redeemed all $ 400 million of our outstanding 6.65% ( 6.65 % ) notes due january 15 , 2011 .", "the redemption resulted in a $ 5 million early extinguishment charge .", "receivables securitization facility 2013 at december 31 , 2010 , we have recorded $ 100 million as secured debt under our receivables securitization facility .", "( see further discussion of our receivables securitization facility in note 10. ) 15 .", "variable interest entities we have entered into various lease transactions in which the structure of the leases contain variable interest entities ( vies ) .", "these vies were created solely for the purpose of doing lease transactions ( principally involving railroad equipment and facilities ) and have no other activities , assets or liabilities outside of the lease transactions .", "within these lease arrangements , we have the right to purchase some or all of the assets at fixed prices .", "depending on market conditions , fixed-price purchase options available in the leases could potentially provide benefits to us ; however , these benefits are not expected to be significant .", "we maintain and operate the assets based on contractual obligations within the lease arrangements , which set specific guidelines consistent within the railroad industry .", "as such , we have no control over activities that could materially impact the fair value of the leased assets .", "we do not hold the power to direct the activities of the vies and , therefore , do not control the ongoing activities that have a significant impact on the economic performance of the vies .", "additionally , we do not have the obligation to absorb losses of the vies or the right to receive benefits of the vies that could potentially be significant to the we are not considered to be the primary beneficiary and do not consolidate these vies because our actions and decisions do not have the most significant effect on the vie 2019s performance and our fixed-price purchase price options are not considered to be potentially significant to the vie 2019s .", "the future minimum lease payments associated with the vie leases totaled $ 4.2 billion as of december 31 , 2010 .", "16 .", "leases we lease certain locomotives , freight cars , and other property .", "the consolidated statement of financial position as of december 31 , 2010 and 2009 included $ 2520 million , net of $ 901 million of accumulated depreciation , and $ 2754 million , net of $ 927 million of accumulated depreciation , respectively , for properties held under capital leases .", "a charge to income resulting from the depreciation for assets held under capital leases is included within depreciation expense in our consolidated statements of income .", "future minimum lease payments for operating and capital leases with initial or remaining non-cancelable lease terms in excess of one year as of december 31 , 2010 , were as follows : millions operating leases capital leases ." ]

[ "the majority of capital lease payments relate to locomotives .", "rent expense for operating leases with terms exceeding one month was $ 624 million in 2010 , $ 686 million in 2009 , and $ 747 million in 2008 .", "when cash rental payments are not made on a straight-line basis , we recognize variable rental expense on a straight-line basis over the lease term .", "contingent rentals and sub-rentals are not significant. ." ]

[ [ "<i>Millions</i>", "<i>Operating</i><i>Leases</i>", "<i>Capital</i><i>Leases</i>" ], [ "2011", "$613", "$311" ], [ "2012", "526", "251" ], [ "2013", "461", "253" ], [ "2014", "382", "261" ], [ "2015", "340", "262" ], [ "Later years", "2,599", "1,355" ], [ "Total minimum lease payments", "$4,921", "$2,693" ], [ "Amount representing interest", "N/A", "(784)" ], [ "Present value of minimum lease payments", "N/A", "$1,909" ] ]

[ [ "millions", "operatingleases", "capitalleases" ], [ "2011", "$ 613", "$ 311" ], [ "2012", "526", "251" ], [ "2013", "461", "253" ], [ "2014", "382", "261" ], [ "2015", "340", "262" ], [ "later years", "2599", "1355" ], [ "total minimum lease payments", "$ 4921", "$ 2693" ], [ "amount representing interest", "n/a", "-784 ( 784 )" ], [ "present value of minimum lease payments", "n/a", "$ 1909" ] ]

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[ "table of contents notes to consolidated financial statements of american airlines , inc .", "the asset .", "projected cash flows are discounted at a required market rate of return that reflects the relative risk of achieving the cash flows and the time value of money .", "the cost approach , which estimates value by determining the current cost of replacing an asset with another of equivalent economic utility , was used , as appropriate , for certain assets for which the market and income approaches could not be applied due to the nature of the asset .", "the cost to replace a given asset reflects the estimated reproduction or replacement cost for the asset , less an allowance for loss in value due to depreciation .", "the fair value of us airways 2019 dividend miles loyalty program liability was determined based on the weighted average equivalent ticket value of outstanding miles which were expected to be redeemed for future travel at december 9 , 2013 .", "the weighted average equivalent ticket value contemplates differing classes of service , domestic and international itineraries and the carrier providing the award travel .", "pro-forma impact of the merger american 2019s unaudited pro-forma results presented below include the effects of the merger as if it had been consummated as of january 1 , 2012 .", "the pro- forma results include the depreciation and amortization associated with the acquired tangible and intangible assets , lease and debt fair value adjustments , the elimination of any deferred gains or losses , adjustments relating to reflecting the fair value of the loyalty program liability and the impact of income changes on profit sharing expense , among others .", "in addition , the pro-forma results below reflect the impact of higher wage rates related to memorandums of understanding with us airways 2019 pilots that became effective upon closing of the merger , as well as the elimination of american 2019s reorganization items , net and merger transition costs .", "however , the pro-forma results do not include any anticipated synergies or other expected benefits of the merger .", "accordingly , the unaudited pro-forma financial information below is not necessarily indicative of either future results of operations or results that might have been achieved had the acquisition been consummated as of january 1 , 2012 .", "december 31 , ( in millions ) ." ]

[ "5 .", "basis of presentation and summary of significant accounting policies ( a ) basis of presentation on december 30 , 2015 , us airways merged with and into american , which is reflected in american 2019s consolidated financial statements as though the transaction had occurred on december 9 , 2013 , when a subsidiary of amr merged with and into us airways group .", "thus , the full years of 2015 and 2014 and the period from december 9 , 2013 to december 31 , 2013 are comprised of the consolidated financial data of american and us airways .", "for the periods prior to december 9 , 2013 , the financial data reflects the results of american only .", "for financial reporting purposes , the transaction constituted a transfer of assets between entities under common control and was accounted for in a manner similar to the pooling of interests method of accounting .", "under this method , the carrying amount of net assets recognized in the balance sheets of each combining entity are carried forward to the balance sheet of the combined entity and no other assets or liabilities are recognized .", "the preparation of financial statements in accordance with accounting principles generally accepted in the united states ( gaap ) requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities , revenues and expenses , and the disclosure of contingent assets and liabilities at the date of the financial statements .", "actual results could differ from those estimates .", "the most significant areas of judgment relate to passenger revenue recognition , impairment of goodwill , impairment of long-lived and ." ]

[ [ "", "December 31, 2013 (In millions)" ], [ "Revenue", "$40,782" ], [ "Net Income", "2,707" ] ]

[ [ "", "december 31 2013 ( in millions )" ], [ "revenue", "$ 40782" ], [ "net income", "2707" ] ]

[]

[ "put options we currently have outstanding put option agreements with other shareholders of our air products san fu company , ltd .", "and indura s.a .", "subsidiaries .", "the put options give the shareholders the right to sell stock in the subsidiaries based on pricing terms in the agreements .", "refer to note 17 , commitments and contingencies , to the consolidated financial statements for additional information .", "due to the uncertainty of whether these options would be exercised and the related timing , we excluded the potential payments from the contractual obligations table .", "pension benefits we sponsor defined benefit pension plans that cover a substantial portion of our worldwide employees .", "the principal defined benefit pension plans 2014the u.s .", "salaried pension plan and the u.k .", "pension plan 2014were closed to new participants in 2005 and were replaced with defined contribution plans .", "over the long run , the shift to defined contribution plans is expected to reduce volatility of both plan expense and contributions .", "for 2013 , the fair market value of pension plan assets for our defined benefit plans as of the measurement date increased to $ 3800.8 from $ 3239.1 in 2012 .", "the projected benefit obligation for these plans as of the measurement date was $ 4394.0 and $ 4486.5 in 2013 and 2012 , respectively .", "refer to note 16 , retirement benefits , to the consolidated financial statements for comprehensive and detailed disclosures on our postretirement benefits .", "pension expense ." ]

[ "2013 vs .", "2012 the increase in pension expense , excluding special items , was primarily attributable to the 100 bp decrease in weighted average discount rate , resulting in higher amortization of actuarial losses .", "the increase was partially offset by a higher expected return on plan assets and contributions in 2013 .", "special items of $ 19.8 primarily included $ 12.4 for pension settlement losses and $ 6.9 for special termination benefits relating to the 2013 business restructuring and cost reduction plan .", "2012 vs .", "2011 pension expense in 2012 , excluding special items , was comparable to 2011 expense as a result of no change in the weighted average discount rate from year to year .", "2014 outlook pension expense is estimated to be approximately $ 140 to $ 145 , excluding special items , in 2014 , a decrease of $ 5 to $ 10 from 2013 , resulting primarily from an increase in discount rates , partially offset by unfavorable impacts associated with changes in mortality and inflation assumptions .", "pension settlement losses of $ 10 to $ 25 are expected , dependent on the timing of retirements .", "in 2014 , pension expense will include approximately $ 118 for amortization of actuarial losses compared to $ 143 in 2013 .", "net actuarial gains of $ 370.4 were recognized in 2013 , resulting primarily from an approximately 65 bp increase in the weighted average discount rate as well as actual asset returns above expected returns .", "actuarial gains/losses are amortized into pension expense over prospective periods to the extent they are not offset by future gains or losses .", "future changes in the discount rate and actual returns on plan assets , different from expected returns , would impact the actuarial gains/losses and resulting amortization in years beyond 2014 .", "pension funding pension funding includes both contributions to funded plans and benefit payments for unfunded plans , which are primarily non-qualified plans .", "with respect to funded plans , our funding policy is that contributions , combined with appreciation and earnings , will be sufficient to pay benefits without creating unnecessary surpluses .", "in addition , we make contributions to satisfy all legal funding requirements while managing our capacity to benefit from tax deductions attributable to plan contributions .", "with the assistance of third party actuaries , we analyze the liabilities and demographics of each plan , which help guide the level of contributions .", "during 2013 and 2012 , our cash contributions to funded plans and benefit payments for unfunded plans were $ 300.8 and $ 76.4 , respectively .", "contributions for 2013 include voluntary contributions for u.s .", "plans of $ 220.0. ." ]

[ [ "", "2013", "2012", "2011" ], [ "Pension expense", "$169.7", "$120.4", "$114.1" ], [ "Special terminations, settlements, and curtailments (included above)", "19.8", "8.2", "1.3" ], [ "Weighted average discount rate", "4.0%", "5.0%", "5.0%" ], [ "Weighted average expected rate of return on plan assets", "7.7%", "8.0%", "8.0%" ], [ "Weighted average expected rate of compensation increase", "3.8%", "3.9%", "4.0%" ] ]

[ [ "", "2013", "2012", "2011" ], [ "pension expense", "$ 169.7", "$ 120.4", "$ 114.1" ], [ "special terminations settlements and curtailments ( included above )", "19.8", "8.2", "1.3" ], [ "weighted average discount rate", "4.0% ( 4.0 % )", "5.0% ( 5.0 % )", "5.0% ( 5.0 % )" ], [ "weighted average expected rate of return on plan assets", "7.7% ( 7.7 % )", "8.0% ( 8.0 % )", "8.0% ( 8.0 % )" ], [ "weighted average expected rate of compensation increase", "3.8% ( 3.8 % )", "3.9% ( 3.9 % )", "4.0% ( 4.0 % )" ] ]

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[ "the goldman sachs group , inc .", "and subsidiaries management 2019s discussion and analysis net revenues the table below presents our net revenues by line item in the consolidated statements of earnings. ." ]

[ "in the table above : 2030 investment banking consists of revenues ( excluding net interest ) from financial advisory and underwriting assignments , as well as derivative transactions directly related to these assignments .", "these activities are included in our investment banking segment .", "2030 investment management consists of revenues ( excluding net interest ) from providing investment management services to a diverse set of clients , as well as wealth advisory services and certain transaction services to high-net-worth individuals and families .", "these activities are included in our investment management segment .", "2030 commissions and fees consists of revenues from executing and clearing client transactions on major stock , options and futures exchanges worldwide , as well as over-the-counter ( otc ) transactions .", "these activities are included in our institutional client services and investment management segments .", "2030 market making consists of revenues ( excluding net interest ) from client execution activities related to making markets in interest rate products , credit products , mortgages , currencies , commodities and equity products .", "these activities are included in our institutional client services segment .", "2030 other principal transactions consists of revenues ( excluding net interest ) from our investing activities and the origination of loans to provide financing to clients .", "in addition , other principal transactions includes revenues related to our consolidated investments .", "these activities are included in our investing & lending segment .", "operating environment .", "during 2017 , generally higher asset prices and tighter credit spreads were supportive of industry-wide underwriting activities , investment management performance and other principal transactions .", "however , low levels of volatility in equity , fixed income , currency and commodity markets continued to negatively affect our market-making activities , particularly in fixed income , currency and commodity products .", "the price of natural gas decreased significantly during 2017 , while the price of oil increased compared with the end of 2016 .", "if the trend of low volatility continues over the long term and market-making activity levels remain low , or if investment banking activity levels , asset prices or assets under supervision decline , net revenues would likely be negatively impacted .", "see 201csegment operating results 201d below for further information about the operating environment and material trends and uncertainties that may impact our results of operations .", "the first half of 2016 included challenging trends in the operating environment for our business activities including concerns and uncertainties about global economic growth , central bank activity and the political uncertainty and economic implications surrounding the potential exit of the u.k .", "from the e.u .", "during the second half of 2016 , the operating environment improved , as global equity markets steadily increased and investment grade and high-yield credit spreads tightened .", "these trends provided a more favorable backdrop for our business activities .", "2017 versus 2016 net revenues in the consolidated statements of earnings were $ 32.07 billion for 2017 , 5% ( 5 % ) 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 .", "52 goldman sachs 2017 form 10-k ." ]

[ [ "", "Year Ended December" ], [ "<i>$ in millions</i>", "2017", "2016", "2015" ], [ "Investment banking", "$ 7,371", "$ 6,273", "$ 7,027" ], [ "Investment management", "5,803", "5,407", "5,868" ], [ "Commissions and fees", "3,051", "3,208", "3,320" ], [ "Market making", "7,660", "9,933", "9,523" ], [ "Other principal transactions", "5,256", "3,200", "5,018" ], [ "Totalnon-interestrevenues", "29,141", "28,021", "30,756" ], [ "Interest income", "13,113", "9,691", "8,452" ], [ "Interest expense", "10,181", "7,104", "5,388" ], [ "Net interest income", "2,932", "2,587", "3,064" ], [ "Total net revenues", "$32,073", "$30,608", "$33,820" ] ]

[ [ "$ in millions", "year ended december 2017", "year ended december 2016", "year ended december 2015" ], [ "investment banking", "$ 7371", "$ 6273", "$ 7027" ], [ "investment management", "5803", "5407", "5868" ], [ "commissions and fees", "3051", "3208", "3320" ], [ "market making", "7660", "9933", "9523" ], [ "other principal transactions", "5256", "3200", "5018" ], [ "totalnon-interestrevenues", "29141", "28021", "30756" ], [ "interest income", "13113", "9691", "8452" ], [ "interest expense", "10181", "7104", "5388" ], [ "net interest income", "2932", "2587", "3064" ], [ "total net revenues", "$ 32073", "$ 30608", "$ 33820" ] ]

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[ "liquidity and capital resources the following table summarizes liquidity data as of the dates indicated ( in thousands ) : december 31 , december 31 ." ]

[ "total debt ( 1 ) 3365687 1599695 current maturities ( 2 ) 68414 57494 capacity under credit facilities ( 3 ) 2550000 1947000 availability under credit facilities ( 3 ) 1019112 1337653 total liquidity ( cash and equivalents plus availability on credit facilities ) 1246512 1425050 ( 1 ) debt amounts reflect the gross values to be repaid ( excluding debt issuance costs of $ 23.9 million and $ 15.0 million as of december 31 , 2016 and 2015 , respectively ) .", "( 2 ) debt amounts reflect the gross values to be repaid ( excluding debt issuance costs of $ 2.3 million and $ 1.5 million as of december 31 , 2016 and 2015 , respectively ) .", "( 3 ) includes our revolving credit facilities , our receivables securitization facility , and letters of credit .", "we assess our liquidity in terms of our ability to fund our operations and provide for expansion through both internal development and acquisitions .", "our primary sources of liquidity are cash flows from operations and our credit facilities .", "we utilize our cash flows from operations to fund working capital and capital expenditures , with the excess amounts going towards funding acquisitions or paying down outstanding debt .", "as we have pursued acquisitions as part of our growth strategy , our cash flows from operations have not always been sufficient to cover our investing activities .", "to fund our acquisitions , we have accessed various forms of debt financing , including revolving credit facilities , senior notes , and a receivables securitization facility .", "as of december 31 , 2016 , we had debt outstanding and additional available sources of financing , as follows : 2022 senior secured credit facilities maturing in january 2021 , composed of term loans totaling $ 750 million ( $ 732.7 million outstanding at december 31 , 2016 ) and $ 2.45 billion in revolving credit ( $ 1.36 billion outstanding at december 31 , 2016 ) , bearing interest at variable rates ( although a portion of this debt is hedged through interest rate swap contracts ) reduced by $ 72.7 million of amounts outstanding under letters of credit 2022 senior notes totaling $ 600 million , maturing in may 2023 and bearing interest at a 4.75% ( 4.75 % ) fixed rate 2022 euro notes totaling $ 526 million ( 20ac500 million ) , maturing in april 2024 and bearing interest at a 3.875% ( 3.875 % ) fixed rate 2022 receivables securitization facility with availability up to $ 100 million ( $ 100 million outstanding as of december 31 , 2016 ) , maturing in november 2019 and bearing interest at variable commercial paper from time to time , we may undertake financing transactions to increase our available liquidity , such as our january 2016 amendment to our senior secured credit facilities , the issuance of 20ac500 million of euro notes in april 2016 , and the november 2016 amendment to our receivables securitization facility .", "the rhiag acquisition was the catalyst for the april issuance of 20ac500 million of euro notes .", "given that rhiag is a long term asset , we considered alternative financing options and decided to fund a portion of this acquisition through the issuance of long term notes .", "additionally , the interest rates on rhiag's acquired debt ranged between 6.45% ( 6.45 % ) and 7.25% ( 7.25 % ) .", "with the issuance of the 20ac500 million of senior notes at a rate of 3.875% ( 3.875 % ) , we were able to replace rhiag's borrowings with long term financing at favorable rates .", "this refinancing also provides financial flexibility to execute our long-term growth strategy by freeing up availability under our revolver .", "if we see an attractive acquisition opportunity , we have the ability to use our revolver to move quickly and have certainty of funding .", "as of december 31 , 2016 , we had approximately $ 1.02 billion available under our credit facilities .", "combined with approximately $ 227.4 million of cash and equivalents at december 31 , 2016 , we had approximately $ 1.25 billion in available liquidity , a decrease of $ 178.5 million from our available liquidity as of december 31 , 2015 .", "we expect to use the proceeds from the sale of pgw's glass manufacturing business to pay down borrowings under our revolving credit facilities , which would increase our available liquidity by approximately $ 310 million when the transaction closes. ." ]

[ [ "", "December 31, 2016", "December 31, 2015" ], [ "Cash and equivalents", "$227,400", "$87,397" ], [ "Total debt⁽¹⁾", "3,365,687", "1,599,695" ], [ "Current maturities⁽²⁾", "68,414", "57,494" ], [ "Capacity under credit facilities⁽³⁾", "2,550,000", "1,947,000" ], [ "Availability under credit facilities⁽³⁾", "1,019,112", "1,337,653" ], [ "Total liquidity (cash and equivalents plus availability on credit facilities)", "1,246,512", "1,425,050" ] ]

[ [ "", "december 31 2016", "december 31 2015" ], [ "cash and equivalents", "$ 227400", "$ 87397" ], [ "total debt ( 1 )", "3365687", "1599695" ], [ "current maturities ( 2 )", "68414", "57494" ], [ "capacity under credit facilities ( 3 )", "2550000", "1947000" ], [ "availability under credit facilities ( 3 )", "1019112", "1337653" ], [ "total liquidity ( cash and equivalents plus availability on credit facilities )", "1246512", "1425050" ] ]

[]

[ "each clearing firm is required to deposit and maintain balances in the form of cash , u.s .", "government securities , certain foreign government securities , bank letters of credit or other approved investments to satisfy performance bond and guaranty fund requirements .", "all non-cash deposits are marked-to-market and haircut on a daily basis .", "securities deposited by the clearing firms are not reflected in the consolidated financial statements and the clearing house does not earn any interest on these deposits .", "these balances may fluctuate significantly over time due to investment choices available to clearing firms and changes in the amount of contributions required .", "in addition , the rules and regulations of cbot require that collateral be provided for delivery of physical commodities , maintenance of capital requirements and deposits on pending arbitration matters .", "to satisfy these requirements , clearing firms that have accounts that trade certain cbot products have deposited cash , u.s .", "treasury securities or letters of credit .", "the clearing house marks-to-market open positions at least once a day ( twice a day for futures and options contracts ) , and require payment from clearing firms whose positions have lost value and make payments to clearing firms whose positions have gained value .", "the clearing house has the capability to mark-to-market more frequently as market conditions warrant .", "under the extremely unlikely scenario of simultaneous default by every clearing firm who has open positions with unrealized losses , the maximum exposure related to positions other than credit default and interest rate swap contracts would be one half day of changes in fair value of all open positions , before considering the clearing houses 2019 ability to access defaulting clearing firms 2019 collateral deposits .", "for cleared credit default swap and interest rate swap contracts , the maximum exposure related to cme 2019s guarantee would be one full day of changes in fair value of all open positions , before considering cme 2019s ability to access defaulting clearing firms 2019 collateral .", "during 2017 , the clearing house transferred an average of approximately $ 2.4 billion a day through the clearing system for settlement from clearing firms whose positions had lost value to clearing firms whose positions had gained value .", "the clearing house reduces the guarantee exposure through initial and maintenance performance bond requirements and mandatory guaranty fund contributions .", "the company believes that the guarantee liability is immaterial and therefore has not recorded any liability at december 31 , 2017 .", "at december 31 , 2016 , performance bond and guaranty fund contribution assets on the consolidated balance sheets included cash as well as u.s .", "treasury and u.s .", "government agency securities with maturity dates of 90 days or less .", "the u.s .", "treasury and u.s .", "government agency securities were purchased by cme , at its discretion , using cash collateral .", "the benefits , including interest earned , and risks of ownership accrue to cme .", "interest earned is included in investment income on the consolidated statements of income .", "there were no u.s .", "treasury and u.s .", "government agency securities held at december 31 , 2017 .", "the amortized cost and fair value of these securities at december 31 , 2016 were as follows : ( in millions ) amortized ." ]

[ "cme has been designated as a systemically important financial market utility by the financial stability oversight council and maintains a cash account at the federal reserve bank of chicago .", "at december 31 , 2017 and december 31 , 2016 , cme maintained $ 34.2 billion and $ 6.2 billion , respectively , within the cash account at the federal reserve bank of chicago .", "clearing firms , at their option , may instruct cme to deposit the cash held by cme into one of the ief programs .", "the total principal in the ief programs was $ 1.1 billion at december 31 , 2017 and $ 6.8 billion at december 31 ." ]

[ [ "", "2016" ], [ "(in millions)", "AmortizedCost", "FairValue" ], [ "U.S. Treasury securities", "$5,548.9", "$5,549.0" ], [ "U.S. government agency securities", "1,228.3", "1,228.3" ] ]

[ [ "( in millions )", "2016 amortizedcost", "2016 fairvalue" ], [ "u.s . treasury securities", "$ 5548.9", "$ 5549.0" ], [ "u.s . government agency securities", "1228.3", "1228.3" ] ]

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[ "from time to time , we may elect to use foreign currency forward contracts to reduce the risk from exchange rate fluctuations on intercompany transactions and projected inventory purchases for our european and canadian subsidiaries .", "in addition , we may elect to enter into foreign currency forward contracts to reduce the risk associated with foreign currency exchange rate fluctuations on pound sterling denominated balance sheet items .", "we do not enter into derivative financial instruments for speculative or trading purposes .", "based on the foreign currency forward contracts outstanding as of december 31 , 2011 , we receive u.s .", "dollars in exchange for canadian dollars at a weighted average contractual forward foreign currency exchange rate of 1.03 cad per $ 1.00 , u.s .", "dollars in exchange for euros at a weighted average contractual foreign currency exchange rate of 20ac0.77 per $ 1.00 and euros in exchange for pounds sterling at a weighted average contractual foreign currency exchange rate of a30.84 per 20ac1.00 .", "as of december 31 , 2011 , the notional value of our outstanding foreign currency forward contracts for our canadian subsidiary was $ 51.1 million with contract maturities of 1 month or less , and the notional value of our outstanding foreign currency forward contracts for our european subsidiary was $ 50.0 million with contract maturities of 1 month .", "as of december 31 , 2011 , the notional value of our outstanding foreign currency forward contract used to mitigate the foreign currency exchange rate fluctuations on pound sterling denominated balance sheet items was 20ac10.5 million , or $ 13.6 million , with a contract maturity of 1 month .", "the foreign currency forward contracts are not designated as cash flow hedges , and accordingly , changes in their fair value are recorded in other expense , net on the consolidated statements of income .", "the fair values of our foreign currency forward contracts were liabilities of $ 0.7 million and $ 0.6 million as of december 31 , 2011 and 2010 , respectively , and were included in accrued expenses on the consolidated balance sheet .", "refer to note 10 to the consolidated financial statements for a discussion of the fair value measurements .", "included in other expense , net were the following amounts related to changes in foreign currency exchange rates and derivative foreign currency forward contracts: ." ]

[ "we enter into foreign currency forward contracts with major financial institutions with investment grade credit ratings and are exposed to credit losses in the event of non-performance by these financial institutions .", "this credit risk is generally limited to the unrealized gains in the foreign currency forward contracts .", "however , we monitor the credit quality of these financial institutions and consider the risk of counterparty default to be minimal .", "although we have entered into foreign currency forward contracts to minimize some of the impact of foreign currency exchange rate fluctuations on future cash flows , we cannot be assured that foreign currency exchange rate fluctuations will not have a material adverse impact on our financial condition and results of operations .", "inflation inflationary factors such as increases in the cost of our product and overhead costs may adversely affect our operating results .", "although we do not believe that inflation has had a material impact on our financial position or results of operations to date , a high rate of inflation in the future may have an adverse effect on our ability to maintain current levels of gross margin and selling , general and administrative expenses as a percentage of net revenues if the selling prices of our products do not increase with these increased costs. ." ]

[ [ "Year Ended December 31,", "" ], [ "<i>(In thousands)</i>", "2011", "2010", "2009" ], [ "Unrealized foreign currency exchange rate gains (losses)", "$(4,027)", "$(1,280)", "$5,222" ], [ "Realized foreign currency exchange rate gains (losses)", "298", "(2,638)", "(261)" ], [ "Unrealized derivative losses", "(31)", "(809)", "(1,060)" ], [ "Realized derivative gains (losses)", "1,696", "3,549", "(4,412)" ] ]

[ [ "year ended december 31 , ( in thousands )", "year ended december 31 , 2011", "year ended december 31 , 2010", "2009" ], [ "unrealized foreign currency exchange rate gains ( losses )", "$ -4027 ( 4027 )", "$ -1280 ( 1280 )", "$ 5222" ], [ "realized foreign currency exchange rate gains ( losses )", "298", "-2638 ( 2638 )", "-261 ( 261 )" ], [ "unrealized derivative losses", "-31 ( 31 )", "-809 ( 809 )", "-1060 ( 1060 )" ], [ "realized derivative gains ( losses )", "1696", "3549", "-4412 ( 4412 )" ] ]

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