Datasets:

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MehdiHosseiniMoghadam

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ConvFinQA

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[ "in february 2008 , we issued $ 300.0 million of 8.375% ( 8.375 % ) series o cumulative redeemable preferred shares .", "the indentures ( and related supplemental indentures ) governing our outstanding series of notes also require us to comply with financial ratios and other covenants regarding our operations .", "we were in compliance with all such covenants as of december 31 , 2007 .", "sale of real estate assets we utilize sales of real estate assets as an additional source of liquidity .", "we pursue opportunities to sell real estate assets at favorable prices to capture value created by us as well as to improve the overall quality of our portfolio by recycling sale proceeds into new properties with greater value creation opportunities .", "uses of liquidity our principal uses of liquidity include the following : 2022 property investments ; 2022 recurring leasing/capital costs ; 2022 dividends and distributions to shareholders and unitholders ; 2022 long-term debt maturities ; and 2022 other contractual obligations property investments we evaluate development and acquisition opportunities based upon market outlook , supply and long-term growth potential .", "recurring expenditures one of our principal uses of our liquidity is to fund the recurring leasing/capital expenditures of our real estate investments .", "the following is a summary of our recurring capital expenditures for the years ended december 31 , 2007 , 2006 and 2005 , respectively ( in thousands ) : ." ]

[ "dividends and distributions in order to qualify as a reit for federal income tax purposes , we must currently distribute at least 90% ( 90 % ) of our taxable income to shareholders .", "we paid dividends per share of $ 1.91 , $ 1.89 and $ 1.87 for the years ended december 31 , 2007 , 2006 and 2005 , respectively .", "we also paid a one-time special dividend of $ 1.05 per share in 2005 as a result of the significant gain realized from an industrial portfolio sale .", "we expect to continue to distribute taxable earnings to meet the requirements to maintain our reit status .", "however , distributions are declared at the discretion of our board of directors and are subject to actual cash available for distribution , our financial condition , capital requirements and such other factors as our board of directors deems relevant .", "debt maturities debt outstanding at december 31 , 2007 totaled $ 4.3 billion with a weighted average interest rate of 5.74% ( 5.74 % ) maturing at various dates through 2028 .", "we had $ 3.2 billion of unsecured notes , $ 546.1 million outstanding on our unsecured lines of credit and $ 524.4 million of secured debt outstanding at december 31 , 2007 .", "scheduled principal amortization and maturities of such debt totaled $ 249.8 million for the year ended december 31 , 2007 and $ 146.4 million of secured debt was transferred to unconsolidated subsidiaries in connection with the contribution of properties in 2007. ." ]

[ [ "", "2007", "2006", "2005" ], [ "Recurring tenant improvements", "$45,296", "$41,895", "$60,633" ], [ "Recurring leasing costs", "32,238", "32,983", "33,175" ], [ "Building improvements", "8,402", "8,122", "15,232" ], [ "Totals", "$85,936", "$83,000", "$109,040" ] ]

[ [ "", "2007", "2006", "2005" ], [ "recurring tenant improvements", "$ 45296", "$ 41895", "$ 60633" ], [ "recurring leasing costs", "32238", "32983", "33175" ], [ "building improvements", "8402", "8122", "15232" ], [ "totals", "$ 85936", "$ 83000", "$ 109040" ] ]

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[ "stock performance graph the following graph sets forth the cumulative total shareholder return on our series a common stock , series b common stock and series c common stock as compared with the cumulative total return of the companies listed in the standard and poor 2019s 500 stock index ( 201cs&p 500 index 201d ) and a peer group of companies comprised of cbs corporation class b common stock , news corporation class a common stock , scripps network interactive , inc. , time warner , inc. , viacom , inc .", "class b common stock and the walt disney company .", "the graph assumes $ 100 originally invested on september 18 , 2008 , the date upon which our common stock began trading , in each of our series a common stock , series b common stock and series c common stock , the s&p 500 index , and the stock of our peer group companies , including reinvestment of dividends , for the period september 18 , 2008 through december 31 , 2008 and the years ended december 31 , 2009 , 2010 , 2011 , and 2012 .", "december 31 , december 31 , december 31 , december 31 , december 31 ." ]

[ "equity compensation plan information information regarding securities authorized for issuance under equity compensation plans will be set forth in our definitive proxy statement for our 2013 annual meeting of stockholders under the caption 201csecurities authorized for issuance under equity compensation plans , 201d which is incorporated herein by reference. ." ]

[ [ "", "December 31,2008", "December 31,2009", "December 31,2010", "December 31,2011", "December 31,2012" ], [ "DISCA", "$102.53", "$222.09", "$301.96", "$296.67", "$459.67" ], [ "DISCB", "$78.53", "$162.82", "$225.95", "$217.56", "$327.11" ], [ "DISCK", "$83.69", "$165.75", "$229.31", "$235.63", "$365.63" ], [ "S&P 500", "$74.86", "$92.42", "$104.24", "$104.23", "$118.21" ], [ "Peer Group", "$68.79", "$100.70", "$121.35", "$138.19", "$190.58" ] ]

[ [ "", "december 312008", "december 312009", "december 312010", "december 312011", "december 312012" ], [ "disca", "$ 102.53", "$ 222.09", "$ 301.96", "$ 296.67", "$ 459.67" ], [ "discb", "$ 78.53", "$ 162.82", "$ 225.95", "$ 217.56", "$ 327.11" ], [ "disck", "$ 83.69", "$ 165.75", "$ 229.31", "$ 235.63", "$ 365.63" ], [ "s&p 500", "$ 74.86", "$ 92.42", "$ 104.24", "$ 104.23", "$ 118.21" ], [ "peer group", "$ 68.79", "$ 100.70", "$ 121.35", "$ 138.19", "$ 190.58" ] ]

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[ "4 4 m a n a g e m e n t 2019 s d i s c u s s i o n notes to table ( continued ) ( a ) ( continued ) management believes that operating income , as adjusted , and operating margin , as adjusted , are effective indicators of blackrock 2019s financial performance over time .", "as such , management believes that operating income , as adjusted , and operating margin , as adjusted , provide useful disclosure to investors .", "operating income , as adjusted : bgi transaction and integration costs recorded in 2010 and 2009 consist principally of certain advisory payments , compensation expense , legal fees , marketing and promotional , occupancy and consulting expenses incurred in conjunction with the bgi transaction .", "restructuring charges recorded in 2009 and 2008 consist of compensation costs , occupancy costs and professional fees .", "the expenses associated with restructuring and bgi transaction and integration costs have been deemed non-recurring by management and have been excluded from operating income , as adjusted , to help enhance the comparability of this information to the current reporting periods .", "as such , management believes that operating margins exclusive of these costs are useful measures in evaluating blackrock 2019s operating performance for the respective periods .", "the portion of compensation expense associated with certain long-term incentive plans ( 201cltip 201d ) that will be funded through the distribution to participants of shares of blackrock stock held by pnc and a merrill lynch cash compensation contribution , a portion of which has been received , have been excluded because these charges ultimately do not impact blackrock 2019s book value .", "compensation expense associated with appreciation/ ( depreciation ) on investments related to certain blackrock deferred compensation plans has been excluded as returns on investments set aside for these plans , which substantially offset this expense , are reported in non-operating income ( expense ) .", "operating margin , as adjusted : operating income used for measuring operating margin , as adjusted , is equal to operating income , as adjusted , excluding the impact of closed-end fund launch costs and commissions .", "management believes that excluding such costs and commissions is useful because these costs can fluctuate considerably and revenues associated with the expenditure of these costs will not fully impact the company 2019s results until future periods .", "operating margin , as adjusted , allows the company to compare performance from period-to-period by adjusting for items that may not recur , recur infrequently or may fluctuate based on market movements , such as restructuring charges , transaction and integration costs , closed-end fund launch costs , commissions paid to certain employees as compensation and fluctua- tions in compensation expense based on mark-to-market movements in investments held to fund certain compensation plans .", "the company also uses operating margin , as adjusted , to monitor corporate performance and efficiency and as a benchmark to compare its performance to other companies .", "management uses both the gaap and non-gaap financial measures in evaluating the financial performance of blackrock .", "the non-gaap measure by itself may pose limitations because it does not include all of the company 2019s revenues and expenses .", "revenue used for operating margin , as adjusted , excludes distribution and servicing costs paid to related parties and other third parties .", "management believes that excluding such costs is useful to blackrock because it creates consistency in the treatment for certain contracts for similar services , which due to the terms of the contracts , are accounted for under gaap on a net basis within investment advisory , administration fees and securities lending revenue .", "amortization of deferred sales commissions is excluded from revenue used for operating margin measurement , as adjusted , because such costs , over time , offset distribution fee revenue earned by the company .", "reimbursable property management compensation represented com- pensation and benefits paid to personnel of metric property management , inc .", "( 201cmetric 201d ) , a subsidiary of blackrock realty advisors , inc .", "( 201crealty 201d ) .", "prior to the transfer in 2008 , these employees were retained on metric 2019s payroll when certain properties were acquired by realty 2019s clients .", "the related compensation and benefits were fully reimbursed by realty 2019s clients and have been excluded from revenue used for operating margin , as adjusted , because they did not bear an economic cost to blackrock .", "for each of these items , blackrock excludes from revenue used for operating margin , as adjusted , the costs related to each of these items as a proxy for such offsetting revenues .", "( b ) non-operating income ( expense ) , less net income ( loss ) attributable to non-controlling interests , as adjusted : non-operating income ( expense ) , less net income ( loss ) attributable to non-controlling interests ( 201cnci 201d ) , as adjusted , equals non-operating income ( expense ) , gaap basis , less net income ( loss ) attributable to nci , gaap basis , adjusted for compensation expense associated with depreciation/ ( appreciation ) on investments related to certain blackrock deferred compensation plans .", "the compensation expense offset is recorded in operating income .", "this compensation expense has been included in non-operating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted , to offset returns on investments set aside for these plans , which are reported in non-operating income ( expense ) , gaap basis. ." ]

[ "non-operating income ( expense ) ( 1 ) 36 ( 28 ) ( 422 ) compensation expense related to ( appreciation ) / depreciation on deferred compensation plans ( 11 ) ( 18 ) 38 non-operating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted $ 25 ( $ 46 ) ( $ 384 ) ( 1 ) net of net income ( loss ) attributable to non-controlling interests .", "management believes that non-operating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted , provides for comparability of this information to prior periods and is an effective measure for reviewing blackrock 2019s non-operating contribution to its results .", "as compensation expense associated with ( appreciation ) /depreciation on investments related to certain deferred compensation plans , which is included in operating income , offsets the gain/ ( loss ) on the investments set aside for these plans , management believes that non-operating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted , provides a useful measure , for both management and investors , of blackrock 2019s non-operating results that impact book value. ." ]

[ [ "", "Yearended December 31," ], [ "<i>(Dollar amounts in millions)</i>", "2010", "2009", "2008" ], [ "Non-operating income (expense), GAAP basis", "$23", "$(6)", "$(577)" ], [ "Less: Net income (loss) attributable to NCI", "(13)", "22", "(155)" ], [ "Non-operating income (expense)⁽¹⁾", "36", "(28)", "(422)" ], [ "Compensation expense related to (appreciation)/depreciation on deferred compensation plans", "(11)", "(18)", "38" ], [ "Non-operating income (expense), less net income (loss) attributable to NCI, as adjusted", "$25", "$(46)", "$(384)" ] ]

[ [ "( dollar amounts in millions )", "yearended december 31 , 2010", "yearended december 31 , 2009", "yearended december 31 , 2008" ], [ "non-operating income ( expense ) gaap basis", "$ 23", "$ -6 ( 6 )", "$ -577 ( 577 )" ], [ "less : net income ( loss ) attributable to nci", "-13 ( 13 )", "22", "-155 ( 155 )" ], [ "non-operating income ( expense ) ( 1 )", "36", "-28 ( 28 )", "-422 ( 422 )" ], [ "compensation expense related to ( appreciation ) /depreciation on deferred compensation plans", "-11 ( 11 )", "-18 ( 18 )", "38" ], [ "non-operating income ( expense ) less net income ( loss ) attributable to nci as adjusted", "$ 25", "$ -46 ( 46 )", "$ -384 ( 384 )" ] ]

[]

[ "page 20 of 100 segment sales were $ 100.7 million lower in 2009 than in 2008 , primarily as a result of the impact of lower aluminum prices partially offset by an increase in sales volumes .", "the higher sales volumes in 2009 were the result of incremental volumes from the four plants purchased from ab inbev , partially offset by certain plant closures and lower sales volumes in the existing business .", "segment earnings in 2010 were $ 122.3 million higher than in 2009 primarily due to a net $ 85 million impact related to the higher sales volumes and $ 45 million of product mix and improved manufacturing performance associated with higher production .", "also adding to the 2010 improvement was the effect of a $ 7 million out-of-period inventory charge in 2009 .", "the details of the out-of-period adjustment are included in note 7 to the consolidated financial statements included within item 8 of this report .", "segment earnings in 2009 were higher than in 2008 due to $ 12 million of earnings contribution from the four acquired plants and approximately $ 21 million of savings associated with plant closures .", "partially offsetting these favorable impacts were lower carbonated soft drink and beer can sales volumes ( excluding the newly acquired plants ) and approximately $ 25 million related to higher cost inventories in the first half of 2009 .", "metal beverage packaging , europe ." ]

[ "( a ) further details of these items are included in note 5 to the consolidated financial statements within item 8 of this report .", "the metal beverage packaging , europe , segment includes metal beverage packaging products manufactured in europe .", "ball packaging europe has manufacturing plants located in germany , the united kingdom , france , the netherlands , poland and serbia , and is the second largest metal beverage container business in europe .", "segment sales in 2010 decreased $ 41.9 million compared to 2009 , primarily due to unfavorable foreign exchange effects of $ 93 million and price and mix changes , partially offset by higher sales volumes .", "segment sales in 2009 as compared to 2008 were $ 129.2 million lower due to $ 110 million of unfavorable foreign exchange effects , partially offset by better commercial terms .", "sales volumes in 2009 were essentially flat compared to those in the prior year .", "segment earnings in 2010 decreased $ 1.9 million compared to 2009 , primarily the result of a $ 28 million increase related to higher sales volumes , offset by $ 18 million of negative effects from foreign currency translation and $ 12 million of higher inventory and other costs .", "while 2009 sales volumes were consistent with the prior year , the adverse effects of foreign currency translation , both within europe and on the conversion of the euro to the u.s .", "dollar , reduced segment earnings by $ 8 million .", "also contributing to lower segment earnings were higher cost inventory carried into 2009 and a change in sales mix , partially offset by better commercial terms in some of our contracts .", "on january 18 , 2011 , ball acquired aerocan s.a.s .", "( aerocan ) , a leading european supplier of aluminum aerosol cans and bottles , for 20ac222.4 million ( approximately $ 300 million ) in cash and assumed debt .", "aerocan manufactures extruded aluminum aerosol cans and bottles , and the aluminum slugs used to make them , for customers in the personal care , pharmaceutical , beverage and food industries .", "it operates three aerosol can manufacturing plants 2013 one each in the czech republic , france and the united kingdom 2013 and is a 51 percent owner of a joint venture aluminum slug plant in france .", "the four plants employ approximately 560 people .", "the acquisition of aerocan will allow ball to enter a growing part of the metal packaging industry and to broaden the company 2019s market development efforts into a new customer base. ." ]

[ [ "($ in millions)", "2010", "2009", "2008" ], [ "Net sales", "$1,697.6", "$1,739.5", "$1,868.7" ], [ "Segment earnings", "$212.9", "$214.8", "$230.9" ], [ "Business consolidation costs(a)", "(3.2)", "−", "−" ], [ "Total segment earnings", "$209.7", "$214.8", "$230.9" ] ]

[ [ "( $ in millions )", "2010", "2009", "2008" ], [ "net sales", "$ 1697.6", "$ 1739.5", "$ 1868.7" ], [ "segment earnings", "$ 212.9", "$ 214.8", "$ 230.9" ], [ "business consolidation costs ( a )", "-3.2 ( 3.2 )", "2212", "2212" ], [ "total segment earnings", "$ 209.7", "$ 214.8", "$ 230.9" ] ]

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[ "management 2019s discussion and analysis of financial condition and results of operations in 2008 , sales to the segment 2019s top five customers represented approximately 45% ( 45 % ) of the segment 2019s net sales .", "the segment 2019s backlog was $ 2.3 billion at december 31 , 2008 , compared to $ 2.6 billion at december 31 , 2007 .", "in 2008 , our digital video customers significantly increased their purchases of the segment 2019s products and services , primarily due to increased demand for digital entertainment devices , particularly ip and hd/dvr devices .", "in february 2008 , the segment acquired the assets related to digital cable set-top products of zhejiang dahua digital technology co. , ltd and hangzhou image silicon ( known collectively as dahua digital ) , a developer , manufacturer and marketer of cable set-tops and related low-cost integrated circuits for the emerging chinese cable business .", "the acquisition helped the segment strengthen its position in the rapidly growing cable market in china .", "enterprise mobility solutions segment the enterprise mobility solutions segment designs , manufactures , sells , installs and services analog and digital two-way radios , wireless lan and security products , voice and data communications products and systems for private networks , wireless broadband systems and end-to-end enterprise mobility solutions to a wide range of customers , including government and public safety agencies ( which , together with all sales to distributors of two-way communication products , are referred to as the 2018 2018government and public safety market 2019 2019 ) , as well as retail , energy and utilities , transportation , manufacturing , healthcare and other commercial customers ( which , collectively , are referred to as the 2018 2018commercial enterprise market 2019 2019 ) .", "in 2009 , the segment 2019s net sales represented 32% ( 32 % ) of the company 2019s consolidated net sales , compared to 27% ( 27 % ) in 2008 and 21% ( 21 % ) in 2007 .", "years ended december 31 percent change ( dollars in millions ) 2009 2008 2007 2009 20142008 2008 20142007 ." ]

[ "segment results 20142009 compared to 2008 in 2009 , the segment 2019s net sales were $ 7.0 billion , a decrease of 13% ( 13 % ) compared to net sales of $ 8.1 billion in 2008 .", "the 13% ( 13 % ) decrease in net sales reflects a 21% ( 21 % ) decrease in net sales to the commercial enterprise market and a 10% ( 10 % ) decrease in net sales to the government and public safety market .", "the decrease in net sales to the commercial enterprise market reflects decreased net sales in all regions .", "the decrease in net sales to the government and public safety market was primarily driven by decreased net sales in emea , north america and latin america , partially offset by higher net sales in asia .", "the segment 2019s overall net sales were lower in north america , emea and latin america and higher in asia the segment had operating earnings of $ 1.1 billion in 2009 , a decrease of 29% ( 29 % ) compared to operating earnings of $ 1.5 billion in 2008 .", "the decrease in operating earnings was primarily due to a decrease in gross margin , driven by the 13% ( 13 % ) decrease in net sales and an unfavorable product mix .", "also contributing to the decrease in operating earnings was an increase in reorganization of business charges , relating primarily to higher employee severance costs .", "these factors were partially offset by decreased sg&a expenses and r&d expenditures , primarily related to savings from cost-reduction initiatives .", "as a percentage of net sales in 2009 as compared 2008 , gross margin decreased and r&d expenditures and sg&a expenses increased .", "net sales in north america continued to comprise a significant portion of the segment 2019s business , accounting for approximately 58% ( 58 % ) of the segment 2019s net sales in 2009 , compared to approximately 57% ( 57 % ) in 2008 .", "the regional shift in 2009 as compared to 2008 reflects a 16% ( 16 % ) decline in net sales outside of north america and a 12% ( 12 % ) decline in net sales in north america .", "the segment 2019s backlog was $ 2.4 billion at both december 31 , 2009 and december 31 , 2008 .", "in our government and public safety market , we see a continued emphasis on mission-critical communication and homeland security solutions .", "in 2009 , we led market innovation through the continued success of our mototrbo line and the delivery of the apx fffd family of products .", "while spending by end customers in the segment 2019s government and public safety market is affected by government budgets at the national , state and local levels , we continue to see demand for large-scale mission critical communications systems .", "in 2009 , we had significant wins across the globe , including several city and statewide communications systems in the united states , and continued success winning competitive projects with our tetra systems in europe , the middle east ." ]

[ [ "", "<i>Years Ended December 31</i>", "<i>Percent Change</i>" ], [ "<i>(Dollars in millions)</i>", "2009", "2008", "2007", "2009—2008", "<i>2008—2007</i>" ], [ "Segment net sales", "$7,008", "$8,093", "$7,729", "(13)%", "5%" ], [ "Operating earnings", "1,057", "1,496", "1,213", "(29)%", "23%" ] ]

[ [ "( dollars in millions )", "years ended december 31 2009", "years ended december 31 2008", "years ended december 31 2007", "years ended december 31 2009 20142008", "2008 20142007" ], [ "segment net sales", "$ 7008", "$ 8093", "$ 7729", "( 13 ) % ( % )", "5% ( 5 % )" ], [ "operating earnings", "1057", "1496", "1213", "( 29 ) % ( % )", "23% ( 23 % )" ] ]

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[ "blackrock n 96 n notes in april 2009 , the company acquired $ 2 million of finite- lived management contracts with a five-year estimated useful life associated with the acquisition of the r3 capital partners funds .", "in december 2009 , in conjunction with the bgi trans- action , the company acquired $ 163 million of finite- lived management contracts with a weighted-average estimated useful life of approximately 10 years .", "estimated amortization expense for finite-lived intangible assets for each of the five succeeding years is as follows : ( dollar amounts in millions ) ." ]

[ "indefinite-lived acquired management contracts on september 29 , 2006 , in conjunction with the mlim transaction , the company acquired indefinite-lived man- agement contracts valued at $ 4477 million consisting of $ 4271 million for all retail mutual funds and $ 206 million for alternative investment products .", "on october 1 , 2007 , in conjunction with the quellos transaction , the company acquired $ 631 million in indefinite-lived management contracts associated with alternative investment products .", "on october 1 , 2007 , the company purchased the remain- ing 20% ( 20 % ) of an investment manager of a fund of hedge funds .", "in conjunction with this transaction , the company recorded $ 8 million in additional indefinite-lived management contracts associated with alternative investment products .", "on december 1 , 2009 , in conjunction with the bgi transaction , the company acquired $ 9785 million in indefinite-lived management contracts valued consisting primarily for exchange traded funds and common and collective trusts .", "indefinite-lived acquired trade names/trademarks on december 1 , 2009 , in conjunction with the bgi transaction , the company acquired trade names/ trademarks primarily related to ishares valued at $ 1402.5 million .", "the fair value was determined using a royalty rate based primarily on normalized marketing and promotion expenditures to develop and support the brands globally .", "13 .", "borrowings short-term borrowings 2007 facility in august 2007 , the company entered into a five-year $ 2.5 billion unsecured revolving credit facility ( the 201c2007 facility 201d ) , which permits the company to request an additional $ 500 million of borrowing capacity , subject to lender credit approval , up to a maximum of $ 3.0 billion .", "the 2007 facility requires the company not to exceed a maximum leverage ratio ( ratio of net debt to earnings before interest , taxes , depreciation and amortiza- tion , where net debt equals total debt less domestic unrestricted cash ) of 3 to 1 , which was satisfied with a ratio of less than 1 to 1 at december 31 , 2009 .", "the 2007 facility provides back-up liquidity , funds ongoing working capital for general corporate purposes and funds various investment opportunities .", "at december 31 , 2009 , the company had $ 200 million outstanding under the 2007 facility with an interest rate of 0.44% ( 0.44 % ) and a maturity date during february 2010 .", "during february 2010 , the company rolled over $ 100 million in borrowings with an interest rate of 0.43% ( 0.43 % ) and a maturity date in may 2010 .", "lehman commercial paper inc .", "has a $ 140 million participation under the 2007 facility ; however blackrock does not expect that lehman commercial paper inc .", "will honor its commitment to fund additional amounts .", "bank of america , a related party , has a $ 140 million participation under the 2007 facility .", "in december 2007 , in order to support two enhanced cash funds that blackrock manages , blackrock elected to procure two letters of credit under the existing 2007 facility in an aggregate amount of $ 100 million .", "in decem- ber 2008 , the letters of credit were terminated .", "commercial paper program on october 14 , 2009 , blackrock established a com- mercial paper program ( the 201ccp program 201d ) under which the company may issue unsecured commercial paper notes ( the 201ccp notes 201d ) on a private placement basis up to a maximum aggregate amount outstanding at any time of $ 3 billion .", "the proceeds of the commercial paper issuances were used for the financing of a portion of the bgi transaction .", "subsidiaries of bank of america and barclays , as well as other third parties , act as dealers under the cp program .", "the cp program is supported by the 2007 facility .", "the company began issuance of cp notes under the cp program on november 4 , 2009 .", "as of december 31 , 2009 , blackrock had approximately $ 2 billion of out- standing cp notes with a weighted average interest rate of 0.20% ( 0.20 % ) and a weighted average maturity of 23 days .", "since december 31 , 2009 , the company repaid approxi- mately $ 1.4 billion of cp notes with proceeds from the long-term notes issued in december 2009 .", "as of march 5 , 2010 , blackrock had $ 596 million of outstanding cp notes with a weighted average interest rate of 0.18% ( 0.18 % ) and a weighted average maturity of 38 days .", "japan commitment-line in june 2008 , blackrock japan co. , ltd. , a wholly owned subsidiary of the company , entered into a five billion japanese yen commitment-line agreement with a bank- ing institution ( the 201cjapan commitment-line 201d ) .", "the term of the japan commitment-line was one year and interest accrued at the applicable japanese short-term prime rate .", "in june 2009 , blackrock japan co. , ltd .", "renewed the japan commitment-line for a term of one year .", "the japan commitment-line is intended to provide liquid- ity and flexibility for operating requirements in japan .", "at december 31 , 2009 , the company had no borrowings outstanding on the japan commitment-line .", "convertible debentures in february 2005 , the company issued $ 250 million aggregate principal amount of convertible debentures ( the 201cdebentures 201d ) , due in 2035 and bearing interest at a rate of 2.625% ( 2.625 % ) per annum .", "interest is payable semi- annually in arrears on february 15 and august 15 of each year , and commenced august 15 , 2005 .", "prior to february 15 , 2009 , the debentures could have been convertible at the option of the holder at a decem- ber 31 , 2008 conversion rate of 9.9639 shares of common stock per one dollar principal amount of debentures under certain circumstances .", "the debentures would have been convertible into cash and , in some situations as described below , additional shares of the company 2019s common stock , if during the five business day period after any five consecutive trading day period the trading price per debenture for each day of such period is less than 103% ( 103 % ) of the product of the last reported sales price of blackrock 2019s common stock and the conversion rate of the debentures on each such day or upon the occurrence of certain other corporate events , such as a distribution to the holders of blackrock common stock of certain rights , assets or debt securities , if the company becomes party to a merger , consolidation or transfer of all or substantially all of its assets or a change of control of the company .", "on february 15 , 2009 , the debentures became convertible into cash at any time prior to maturity at the option of the holder and , in some situations as described below , additional shares of the company 2019s common stock at the current conversion rate .", "at the time the debentures are tendered for conver- sion , for each one dollar principal amount of debentures converted , a holder shall be entitled to receive cash and shares of blackrock common stock , if any , the aggregate value of which ( the 201cconversion value 201d ) will be deter- mined by multiplying the applicable conversion rate by the average of the daily volume weighted average price of blackrock common stock for each of the ten consecutive trading days beginning on the second trading day imme- diately following the day the debentures are tendered for conversion ( the 201cten-day weighted average price 201d ) .", "the company will deliver the conversion value to holders as follows : ( 1 ) an amount in cash ( the 201cprincipal return 201d ) equal to the lesser of ( a ) the aggregate conversion value of the debentures to be converted and ( b ) the aggregate principal amount of the debentures to be converted , and ( 2 ) if the aggregate conversion value of the debentures to be converted is greater than the principal return , an amount in shares ( the 201cnet shares 201d ) , determined as set forth below , equal to such aggregate conversion value less the principal return ( the 201cnet share amount 201d ) .", "the number of net shares to be paid will be determined by dividing the net share amount by the ten-day weighted average price .", "in lieu of delivering fractional shares , the company will deliver cash based on the ten-day weighted average price .", "the conversion rate for the debentures is subject to adjustments upon the occurrence of certain corporate events , such as a change of control of the company , 193253ti_txt.indd 96 4/2/10 1:18 pm ." ]

[ [ "2010", "$160" ], [ "2011", "157" ], [ "2012", "156" ], [ "2013", "155" ], [ "2014", "149" ] ]

[ [ "2010", "$ 160" ], [ "2011", "157" ], [ "2012", "156" ], [ "2013", "155" ], [ "2014", "149" ] ]

[]

[ "management 2019s discussion and analysis 122 jpmorgan chase & co./2015 annual report wholesale credit portfolio the firm 2019s wholesale businesses are exposed to credit risk through underwriting , lending , market-making , and hedging activities with and for clients and counterparties , as well as through various operating services such as cash management and clearing activities .", "a portion of the loans originated or acquired by the firm 2019s wholesale businesses is generally retained on the balance sheet .", "the firm distributes a significant percentage of the loans it originates into the market as part of its syndicated loan business and to manage portfolio concentrations and credit risk .", "the wholesale credit portfolio , excluding oil & gas , continued to be generally stable throughout 2015 , characterized by low levels of criticized exposure , nonaccrual loans and charge-offs .", "growth in loans retained was driven by increased client activity , notably in commercial real estate .", "discipline in underwriting across all areas of lending continues to remain a key point of focus .", "the wholesale portfolio is actively managed , in part by conducting ongoing , in-depth reviews of client credit quality and transaction structure , inclusive of collateral where applicable ; and of industry , product and client concentrations .", "wholesale credit portfolio december 31 , credit exposure nonperforming ( c ) ." ]

[ "receivables from customers and other ( a ) 13372 28972 2014 2014 total wholesale credit- related assets 434064 438861 1220 899 lending-related commitments 366399 366881 193 103 total wholesale credit exposure $ 800463 $ 805742 $ 1413 $ 1002 credit derivatives used in credit portfolio management activities ( b ) $ ( 20681 ) $ ( 26703 ) $ ( 9 ) $ 2014 liquid securities and other cash collateral held against derivatives ( 16580 ) ( 19604 ) na na ( a ) receivables from customers and other include $ 13.3 billion and $ 28.8 billion of margin loans at december 31 , 2015 and 2014 , respectively , to prime and retail brokerage customers ; these are classified in accrued interest and accounts receivable on the consolidated balance sheets .", "( b ) represents the net notional amount of protection purchased and sold through credit derivatives used to manage both performing and nonperforming wholesale credit exposures ; these derivatives do not qualify for hedge accounting under u.s .", "gaap .", "for additional information , see credit derivatives on page 129 , and note 6 .", "( c ) excludes assets acquired in loan satisfactions. ." ]

[ [ "December 31,", "Credit exposure", "Nonperforming^(c)" ], [ "(in millions)", "2015", "2014", "2015", "2014" ], [ "Loans retained", "$357,050", "$324,502", "$988", "$599" ], [ "Loans held-for-sale", "1,104", "3,801", "3", "4" ], [ "Loans at fair value", "2,861", "2,611", "25", "21" ], [ "Loans – reported", "361,015", "330,914", "1,016", "624" ], [ "Derivative receivables", "59,677", "78,975", "204", "275" ], [ "Receivables from customers and other^(a)", "13,372", "28,972", "—", "—" ], [ "Total wholesale credit-related assets", "434,064", "438,861", "1,220", "899" ], [ "Lending-related commitments", "366,399", "366,881", "193", "103" ], [ "Total wholesale credit exposure", "$800,463", "$805,742", "$1,413", "$1,002" ], [ "Credit derivatives usedin credit portfolio management activities^(b)", "$(20,681)", "$(26,703)", "$(9)", "$—" ], [ "Liquid securities and other cash collateral held against derivatives", "(16,580)", "(19,604)", "NA", "NA" ] ]

[ [ "december 31 , ( in millions )", "december 31 , 2015", "december 31 , 2014", "2015", "2014" ], [ "loans retained", "$ 357050", "$ 324502", "$ 988", "$ 599" ], [ "loans held-for-sale", "1104", "3801", "3", "4" ], [ "loans at fair value", "2861", "2611", "25", "21" ], [ "loans 2013 reported", "361015", "330914", "1016", "624" ], [ "derivative receivables", "59677", "78975", "204", "275" ], [ "receivables from customers and other ( a )", "13372", "28972", "2014", "2014" ], [ "total wholesale credit-related assets", "434064", "438861", "1220", "899" ], [ "lending-related commitments", "366399", "366881", "193", "103" ], [ "total wholesale credit exposure", "$ 800463", "$ 805742", "$ 1413", "$ 1002" ], [ "credit derivatives usedin credit portfolio management activities ( b )", "$ -20681 ( 20681 )", "$ -26703 ( 26703 )", "$ -9 ( 9 )", "$ 2014" ], [ "liquid securities and other cash collateral held against derivatives", "-16580 ( 16580 )", "-19604 ( 19604 )", "na", "na" ] ]

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[ "jpmorgan chase & co./2012 annual report 167 the chart shows that for year ended december 31 , 2012 , the firm posted market risk related gains on 220 of the 261 days in this period , with gains on eight days exceeding $ 200 million .", "the chart includes year to date losses incurred in the synthetic credit portfolio .", "cib and credit portfolio posted market risk-related gains on 254 days in the period .", "the inset graph looks at those days on which the firm experienced losses and depicts the amount by which var exceeded the actual loss on each of those days .", "of the losses that were sustained on the 41 days of the 261 days in the trading period , the firm sustained losses that exceeded the var measure on three of those days .", "these losses in excess of the var all occurred in the second quarter of 2012 and were due to the adverse effect of market movements on risk positions in the synthetic credit portfolio held by cio .", "during the year ended december 31 , 2012 , cib and credit portfolio experienced seven loss days ; none of the losses on those days exceeded their respective var measures .", "other risk measures debit valuation adjustment sensitivity the following table provides information about the gross sensitivity of dva to a one-basis-point increase in jpmorgan chase 2019s credit spreads .", "this sensitivity represents the impact from a one-basis-point parallel shift in jpmorgan chase 2019s entire credit curve .", "however , the sensitivity at a single point in time multiplied by the change in credit spread at a single maturity point may not be representative of the actual dva gain or loss realized within a period .", "the actual results reflect the movement in credit spreads across various maturities , which typically do not move in a parallel fashion , and is the product of a constantly changing exposure profile , among other factors .", "debit valuation adjustment sensitivity ( in millions ) one basis-point increase in jpmorgan chase 2019s credit spread ." ]

[ "economic-value stress testing along with var , stress testing is important in measuring and controlling risk .", "while var reflects the risk of loss due to adverse changes in markets using recent historical market behavior as an indicator of losses , stress testing captures the firm 2019s exposure to unlikely but plausible events in abnormal markets .", "the firm runs weekly stress tests on market-related risks across the lines of business using multiple scenarios that assume significant changes in risk factors such as credit spreads , equity prices , interest rates , currency rates or commodity prices .", "the framework uses a grid-based approach , which calculates multiple magnitudes of stress for both market rallies and market sell-offs for ." ]

[ [ "(in millions)", "One basis-point increase inJPMorgan Chase’s credit spread" ], [ "December 31, 2012", "$34" ], [ "December 31, 2011", "35" ] ]

[ [ "( in millions )", "one basis-point increase injpmorgan chase 2019s credit spread" ], [ "december 31 2012", "$ 34" ], [ "december 31 2011", "35" ] ]

[]

[ "e nt e r g y c o r p o r a t i o n a n d s u b s i d i a r i e s 2 0 0 7 n an increase of $ 16 million in fossil operating costs due to the purchase of the attala plant in january 2006 and the perryville plant coming online in july 2005 ; n an increase of $ 12 million related to storm reserves .", "this increase does not include costs associated with hurricanes katrina and rita ; and n an increase of $ 12 million due to a return to normal expense patterns in 2006 versus the deferral or capitalization of storm costs in 2005 .", "other operation and maintenance expenses increased for non- utility nuclear from $ 588 million in 2005 to $ 637 million in 2006 primarily due to the timing of refueling outages , increased benefit and insurance costs , and increased nrc fees .", "taxes other than income taxes taxes other than income taxes increased for the utility from $ 322 million in 2005 to $ 361 million in 2006 primarily due to an increase in city franchise taxes in arkansas due to a change in 2006 in the accounting for city franchise tax revenues as directed by the apsc .", "the change results in an increase in taxes other than income taxes with a corresponding increase in rider revenue , resulting in no effect on net income .", "also contributing to the increase was higher franchise tax expense at entergy gulf states , inc .", "as a result of higher gross revenues in 2006 and a customer refund in 2005 .", "other income other income increased for the utility from $ 111 million in 2005 to $ 156 million in 2006 primarily due to carrying charges recorded on storm restoration costs .", "other income increased for non-utility nuclear primarily due to miscellaneous income of $ 27 million ( $ 16.6 million net-of-tax ) resulting from a reduction in the decommissioning liability for a plant as a result of a revised decommissioning cost study and changes in assumptions regarding the timing of when decommissioning of a plant will begin .", "other income increased for parent & other primarily due to a gain related to its entergy-koch investment of approximately $ 55 million ( net-of-tax ) in the fourth quarter of 2006 .", "in 2004 , entergy-koch sold its energy trading and pipeline businesses to third parties .", "at that time , entergy received $ 862 million of the sales proceeds in the form of a cash distribution by entergy-koch .", "due to the november 2006 expiration of contingencies on the sale of entergy-koch 2019s trading business , and the corresponding release to entergy-koch of sales proceeds held in escrow , entergy received additional cash distributions of approximately $ 163 million during the fourth quarter of 2006 and recorded a gain of approximately $ 55 million ( net-of-tax ) .", "entergy expects future cash distributions upon liquidation of the partnership will be less than $ 35 million .", "interest charges interest charges increased for the utility and parent & other primarily due to additional borrowing to fund the significant storm restoration costs associated with hurricanes katrina and rita .", "discontinued operations in april 2006 , entergy sold the retail electric portion of the competitive retail services business operating in the electric reliability council of texas ( ercot ) region of texas , and now reports this portion of the business as a discontinued operation .", "earnings for 2005 were negatively affected by $ 44.8 million ( net-of-tax ) of discontinued operations due to the planned sale .", "this amount includes a net charge of $ 25.8 million ( net-of-tax ) related to the impairment reserve for the remaining net book value of the competitive retail services business 2019 information technology systems .", "results for 2006 include an $ 11.1 million gain ( net-of-tax ) on the sale of the retail electric portion of the competitive retail services business operating in the ercot region of texas .", "income taxes the effective income tax rates for 2006 and 2005 were 27.6% ( 27.6 % ) and 36.6% ( 36.6 % ) , respectively .", "the lower effective income tax rate in 2006 is primarily due to tax benefits , net of reserves , resulting from the tax capital loss recognized in connection with the liquidation of entergy power international holdings , entergy 2019s holding company for entergy-koch .", "also contributing to the lower rate for 2006 is an irs audit settlement that allowed entergy to release from its tax reserves all settled issues relating to 1996-1998 audit cycle .", "see note 3 to the financial statements for a reconciliation of the federal statutory rate of 35.0% ( 35.0 % ) to the effective income tax rates , and for additional discussion regarding income taxes .", "liquidity and capital resources this section discusses entergy 2019s capital structure , capital spending plans and other uses of capital , sources of capital , and the cash flow activity presented in the cash flow statement .", "capital structure entergy 2019s capitalization is balanced between equity and debt , as shown in the following table .", "the increase in the debt to capital percentage from 2006 to 2007 is primarily the result of additional borrowings under entergy corporation 2019s revolving credit facility , along with a decrease in shareholders 2019 equity primarily due to repurchases of common stock .", "this increase in the debt to capital percentage is in line with entergy 2019s financial and risk management aspirations .", "the decrease in the debt to capital percentage from 2005 to 2006 is the result of an increase in shareholders 2019 equity , primarily due to an increase in retained earnings , partially offset by repurchases of common stock. ." ]

[ "net debt consists of debt less cash and cash equivalents .", "debt consists of notes payable , capital lease obligations , preferred stock with sinking fund , and long-term debt , including the currently maturing portion .", "capital consists of debt , shareholders 2019 equity , and preferred stock without sinking fund .", "net capital consists of capital less cash and cash equivalents .", "entergy uses the net debt to net capital ratio in analyzing its financial condition and believes it provides useful information to its investors and creditors in evaluating entergy 2019s financial condition .", "m an ag e ment 2019s f i n anc ial d i scuss ion an d an alys is co n t i n u e d ." ]

[ [ "", "2007", "2006", "2005" ], [ "Net debt to net capital at the end of the year", "54.6%", "49.4%", "51.5%" ], [ "Effect of subtracting cash from debt", "3.0%", "2.9%", "1.6%" ], [ "Debt to capital at the end of the year", "57.6%", "52.3%", "53.1%" ] ]

[ [ "", "2007", "2006", "2005" ], [ "net debt to net capital at the end of the year", "54.6% ( 54.6 % )", "49.4% ( 49.4 % )", "51.5% ( 51.5 % )" ], [ "effect of subtracting cash from debt", "3.0% ( 3.0 % )", "2.9% ( 2.9 % )", "1.6% ( 1.6 % )" ], [ "debt to capital at the end of the year", "57.6% ( 57.6 % )", "52.3% ( 52.3 % )", "53.1% ( 53.1 % )" ] ]

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[ "notes to consolidated financial statements 2014 ( continued ) the following table summarizes the changes in non-vested restricted stock awards for the year ended may 31 , 2009 ( share awards in thousands ) : share awards weighted average grant-date fair value ." ]

[ "the weighted average grant-date fair value of share awards granted in the years ended may 31 , 2008 and 2007 was $ 38 and $ 45 , respectively .", "the total fair value of share awards vested during the years ended may 31 , 2009 , 2008 and 2007 was $ 6.2 million , $ 4.1 million and $ 1.7 million , respectively .", "we recognized compensation expense for restricted stock of $ 9.0 million , $ 5.7 million , and $ 2.7 million in the years ended may 31 , 2009 , 2008 and 2007 .", "as of may 31 , 2009 , there was $ 23.5 million of total unrecognized compensation cost related to unvested restricted stock awards that is expected to be recognized over a weighted average period of 2.9 years .", "employee stock purchase plan we have an employee stock purchase plan under which the sale of 2.4 million shares of our common stock has been authorized .", "employees may designate up to the lesser of $ 25000 or 20% ( 20 % ) of their annual compensation for the purchase of stock .", "the price for shares purchased under the plan is 85% ( 85 % ) of the market value on the last day of the quarterly purchase period .", "as of may 31 , 2009 , 0.8 million shares had been issued under this plan , with 1.6 million shares reserved for future issuance .", "the weighted average grant-date fair value of each designated share purchased under this plan was $ 6 , $ 6 and $ 8 in the years ended may 31 , 2009 , 2008 and 2007 , respectively .", "these values represent the fair value of the 15% ( 15 % ) discount .", "note 12 2014segment information general information during fiscal 2009 , we began assessing our operating performance using a new segment structure .", "we made this change as a result of our june 30 , 2008 acquisition of 51% ( 51 % ) of hsbc merchant services llp in the united kingdom , in addition to anticipated future international expansion .", "beginning with the quarter ended august 31 , 2008 , the reportable segments are defined as north america merchant services , international merchant services , and money transfer .", "the following tables reflect these changes and such reportable segments for fiscal years 2009 , 2008 , and 2007. ." ]

[ [ "", "Share Awards", "Weighted Average Grant-Date Fair Value" ], [ "Non-vested at May 31, 2007", "278", "$37" ], [ "Granted", "400", "38" ], [ "Vested", "(136)", "30" ], [ "Forfeited", "(24)", "40" ], [ "Non-vested at May 31, 2008", "518", "39" ], [ "Granted", "430", "43" ], [ "Vested", "(159)", "39" ], [ "Forfeited", "(27)", "41" ], [ "Non-vested at May 31, 2009", "762", "42" ] ]

[ [ "", "share awards", "weighted average grant-date fair value" ], [ "non-vested at may 31 2007", "278", "$ 37" ], [ "granted", "400", "38" ], [ "vested", "-136 ( 136 )", "30" ], [ "forfeited", "-24 ( 24 )", "40" ], [ "non-vested at may 31 2008", "518", "39" ], [ "granted", "430", "43" ], [ "vested", "-159 ( 159 )", "39" ], [ "forfeited", "-27 ( 27 )", "41" ], [ "non-vested at may 31 2009", "762", "42" ] ]

[ { "arg1": "518", "arg2": "39", "op": "multiply2-1", "res": "20202" }, { "arg1": "#0", "arg2": "const_1000", "op": "divide2-2", "res": "20.2" } ]

[ "stockholder return performance graph the following graph compares the cumulative 5-year total stockholder return on our common stock relative to the cumulative total return of the nasdaq composite index and the s&p 400 information technology index .", "the graph assumes that the value of the investment in our common stock and in each index on december 31 , 2011 ( including reinvestment of dividends ) was $ 100 and tracks it each year thereafter on the last day of our fiscal year through december 31 , 2016 and , for each index , on the last day of the calendar year .", "comparison of 5 year cumulative total return* among cadence design systems , inc. , the nasdaq composite index , and s&p 400 information technology cadence design systems , inc .", "nasdaq composite s&p 400 information technology 12/31/1612/28/13 1/2/1612/31/11 1/3/1512/29/12 *$ 100 invested on 12/31/11 in stock or index , including reinvestment of dividends .", "indexes calculated on month-end basis .", "copyright a9 2017 standard & poor 2019s , a division of s&p global .", "all rights reserved. ." ]

[ "the stock price performance included in this graph is not necessarily indicative of future stock price performance. ." ]

[ [ "", "12/31/2011", "12/29/2012", "12/28/2013", "1/3/2015", "1/2/2016", "12/31/2016" ], [ "Cadence Design Systems, Inc.", "100.00", "129.23", "133.94", "181.06", "200.10", "242.50" ], [ "NASDAQ Composite", "100.00", "116.41", "165.47", "188.69", "200.32", "216.54" ], [ "S&P 400 Information Technology", "100.00", "118.41", "165.38", "170.50", "178.74", "219.65" ] ]

[ [ "", "12/31/2011", "12/29/2012", "12/28/2013", "1/3/2015", "1/2/2016", "12/31/2016" ], [ "cadence design systems inc .", "100.00", "129.23", "133.94", "181.06", "200.10", "242.50" ], [ "nasdaq composite", "100.00", "116.41", "165.47", "188.69", "200.32", "216.54" ], [ "s&p 400 information technology", "100.00", "118.41", "165.38", "170.50", "178.74", "219.65" ] ]

[ { "arg1": "200.10", "arg2": "181.06", "op": "minus2-1", "res": "19.04" }, { "arg1": "#0", "arg2": "181.06", "op": "divide2-2", "res": "10.5%" } ]

[ "united parcel service , inc .", "and subsidiaries notes to consolidated financial statements 2014 ( continued ) the following table summarizes the activity related to our unrecognized tax benefits ( in millions ) : ." ]

[ "as of december 31 , 2007 , the total amount of gross unrecognized tax benefits that , if recognized , would affect the effective tax rate was $ 134 million .", "we also had gross recognized tax benefits of $ 567 million recorded as of december 31 , 2007 associated with outstanding refund claims for prior tax years .", "therefore , we had a net receivable recorded with respect to prior year income tax matters in the accompanying balance sheets .", "our continuing practice is to recognize interest and penalties associated with income tax matters as a component of income tax expense .", "related to the uncertain tax benefits noted above , we accrued penalties of $ 5 million and interest of $ 36 million during 2007 .", "as of december 31 , 2007 , we have recognized a liability for penalties of $ 6 million and interest of $ 75 million .", "additionally , we have recognized a receivable for interest of $ 116 million for the recognized tax benefits associated with outstanding refund claims .", "we file income tax returns in the u.s .", "federal jurisdiction , most u.s .", "state and local jurisdictions , and many non-u.s .", "jurisdictions .", "as of december 31 , 2007 , we had substantially resolved all u.s .", "federal income tax matters for tax years prior to 1999 .", "in the third quarter of 2007 , we entered into a joint stipulation to dismiss the case with the department of justice , effectively withdrawing our refund claim related to the 1994 disposition of a subsidiary in france .", "the write-off of previously recognized tax receivable balances associated with the 1994 french matter resulted in a $ 37 million increase in income tax expense for the quarter .", "however , this increase was offset by the impact of favorable developments with various other u.s .", "federal , u.s .", "state , and non-u.s .", "contingency matters .", "in february 2008 , the irs completed its audit of the tax years 1999 through 2002 with only a limited number of issues that will be considered by the irs appeals office by 2009 .", "the irs is in the final stages of completing its audit of the tax years 2003 through 2004 .", "we anticipate that the irs will conclude its audit of the 2003 and 2004 tax years by 2009 .", "with few exceptions , we are no longer subject to u.s .", "state and local and non-u.s .", "income tax examinations by tax authorities for tax years prior to 1999 , but certain u.s .", "state and local matters are subject to ongoing litigation .", "a number of years may elapse before an uncertain tax position is audited and ultimately settled .", "it is difficult to predict the ultimate outcome or the timing of resolution for uncertain tax positions .", "it is reasonably possible that the amount of unrecognized tax benefits could significantly increase or decrease within the next twelve months .", "items that may cause changes to unrecognized tax benefits include the timing of interest deductions , the deductibility of acquisition costs , the consideration of filing requirements in various states , the allocation of income and expense between tax jurisdictions and the effects of terminating an election to have a foreign subsidiary join in filing a consolidated return .", "these changes could result from the settlement of ongoing litigation , the completion of ongoing examinations , the expiration of the statute of limitations , or other unforeseen circumstances .", "at this time , an estimate of the range of the reasonably possible change cannot be ." ]

[ [ "Balance at January 1, 2007", "$373" ], [ "Additions for tax positions of the current year", "13" ], [ "Additions for tax positions of prior years", "34" ], [ "Reductions for tax positions of prior years for:", "" ], [ "Changes in judgment or facts", "(12)" ], [ "Settlements during the period", "(49)" ], [ "Lapses of applicable statute of limitations", "(4)" ], [ "Balance at December 31, 2007", "$355" ] ]

[ [ "balance at january 1 2007", "$ 373" ], [ "additions for tax positions of the current year", "13" ], [ "additions for tax positions of prior years", "34" ], [ "reductions for tax positions of prior years for:", "" ], [ "changes in judgment or facts", "-12 ( 12 )" ], [ "settlements during the period", "-49 ( 49 )" ], [ "lapses of applicable statute of limitations", "-4 ( 4 )" ], [ "balance at december 31 2007", "$ 355" ] ]

[]

[ "mastercard incorporated notes to consolidated financial statements 2014 ( continued ) ( in thousands , except percent and per share data ) the following table summarizes expected benefit payments through 2018 including those payments expected to be paid from the company 2019s general assets .", "since the majority of the benefit payments are made in the form of lump-sum distributions , actual benefit payments may differ from expected benefits payments. ." ]

[ "substantially all of the company 2019s u.s .", "employees are eligible to participate in a defined contribution savings plan ( the 201csavings plan 201d ) sponsored by the company .", "the savings plan allows employees to contribute a portion of their base compensation on a pre-tax and after-tax basis in accordance with specified guidelines .", "the company matches a percentage of employees 2019 contributions up to certain limits .", "in 2007 and prior years , the company could also contribute to the savings plan a discretionary profit sharing component linked to company performance during the prior year .", "beginning in 2008 , the discretionary profit sharing amount related to 2007 company performance was paid directly to employees as a short-term cash incentive bonus rather than as a contribution to the savings plan .", "in addition , the company has several defined contribution plans outside of the united states .", "the company 2019s contribution expense related to all of its defined contribution plans was $ 35341 , $ 26996 and $ 43594 for 2008 , 2007 and 2006 , respectively .", "the company had a value appreciation program ( 201cvap 201d ) , which was an incentive compensation plan established in 1995 .", "annual awards were granted to vap participants from 1995 through 1998 , which entitled participants to the net appreciation on a portfolio of securities of members of mastercard international .", "in 1999 , the vap was replaced by an executive incentive plan ( 201ceip 201d ) and the senior executive incentive plan ( 201cseip 201d ) ( together the 201ceip plans 201d ) ( see note 16 ( share based payments and other benefits ) ) .", "contributions to the vap have been discontinued , all plan assets have been disbursed and no vap liability remained as of december 31 , 2008 .", "the company 2019s liability related to the vap at december 31 , 2007 was $ 986 .", "the expense ( benefit ) was $ ( 6 ) , $ ( 267 ) and $ 3406 for the years ended december 31 , 2008 , 2007 and 2006 , respectively .", "note 12 .", "postemployment and postretirement benefits the company maintains a postretirement plan ( the 201cpostretirement plan 201d ) providing health coverage and life insurance benefits for substantially all of its u.s .", "employees and retirees hired before july 1 , 2007 .", "the company amended the life insurance benefits under the postretirement plan effective january 1 , 2007 .", "the impact , net of taxes , of this amendment was an increase of $ 1715 to accumulated other comprehensive income in 2007. ." ]

[ [ "2009", "$19,766" ], [ "2010", "18,182" ], [ "2011", "25,518" ], [ "2012", "21,029" ], [ "2013", "24,578" ], [ "2014 – 2018", "118,709" ] ]

[ [ "2009", "$ 19766" ], [ "2010", "18182" ], [ "2011", "25518" ], [ "2012", "21029" ], [ "2013", "24578" ], [ "2014 2013 2018", "118709" ] ]

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[ "on either a straight-line or accelerated basis .", "amortization expense for intangibles was approximately $ 4.2 million , $ 4.1 million and $ 4.1 million during the years ended december 31 , 2010 , 2009 and 2008 , respectively .", "estimated annual amortization expense of the december 31 , 2010 balance for the years ended december 31 , 2011 through 2015 is approximately $ 4.8 million .", "impairment of long-lived assets long-lived assets are reviewed for possible impairment whenever events or circumstances indicate that the carrying amount of such assets may not be recoverable .", "if such review indicates that the carrying amount of long- lived assets is not recoverable , the carrying amount of such assets is reduced to fair value .", "during the year ended december 31 , 2010 , we recognized impairment charges on certain long-lived assets during the normal course of business of $ 1.3 million .", "there were no adjustments to the carrying value of long-lived assets of continuing operations during the years ended december 31 , 2009 or 2008 .", "fair value of financial instruments our debt is reflected on the balance sheet at cost .", "based on market conditions as of december 31 , 2010 , the fair value of our term loans ( see note 5 , 201clong-term obligations 201d ) reasonably approximated the carrying value of $ 590 million .", "at december 31 , 2009 , the fair value of our term loans at $ 570 million was below the carrying value of $ 596 million because our interest rate margins were below the rate available in the market .", "we estimated the fair value of our term loans by calculating the upfront cash payment a market participant would require to assume our obligations .", "the upfront cash payment , excluding any issuance costs , is the amount that a market participant would be able to lend at december 31 , 2010 and 2009 to an entity with a credit rating similar to ours and achieve sufficient cash inflows to cover the scheduled cash outflows under our term loans .", "the carrying amounts of our cash and equivalents , net trade receivables and accounts payable approximate fair value .", "we apply the market and income approaches to value our financial assets and liabilities , which include the cash surrender value of life insurance , deferred compensation liabilities and interest rate swaps .", "required fair value disclosures are included in note 7 , 201cfair value measurements . 201d product warranties some of our salvage mechanical products are sold with a standard six-month warranty against defects .", "additionally , some of our remanufactured engines are sold with a standard three-year warranty against defects .", "we record the estimated warranty costs at the time of sale using historical warranty claim information to project future warranty claims activity and related expenses .", "the changes in the warranty reserve are as follows ( in thousands ) : ." ]

[ "self-insurance reserves we self-insure a portion of employee medical benefits under the terms of our employee health insurance program .", "we purchase certain stop-loss insurance to limit our liability exposure .", "we also self-insure a portion of ." ]

[ [ "Balance as of January 1, 2009", "$540" ], [ "Warranty expense", "5,033" ], [ "Warranty claims", "(4,969)" ], [ "Balance as of December 31, 2009", "604" ], [ "Warranty expense", "9,351" ], [ "Warranty claims", "(8,882)" ], [ "Business acquisitions", "990" ], [ "Balance as of December 31, 2010", "$2,063" ] ]

[ [ "balance as of january 1 2009", "$ 540" ], [ "warranty expense", "5033" ], [ "warranty claims", "-4969 ( 4969 )" ], [ "balance as of december 31 2009", "604" ], [ "warranty expense", "9351" ], [ "warranty claims", "-8882 ( 8882 )" ], [ "business acquisitions", "990" ], [ "balance as of december 31 2010", "$ 2063" ] ]

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[ "capital asset purchases associated with the retail segment were $ 294 million in 2007 , bringing the total capital asset purchases since inception of the retail segment to $ 1.0 billion .", "as of september 29 , 2007 , the retail segment had approximately 7900 employees and had outstanding operating lease commitments associated with retail store space and related facilities of $ 1.1 billion .", "the company would incur substantial costs if it were to close multiple retail stores .", "such costs could adversely affect the company 2019s financial condition and operating results .", "other segments the company 2019s other segments , which consists of its asia pacific and filemaker operations , experienced an increase in net sales of $ 406 million , or 30% ( 30 % ) during 2007 compared to 2006 .", "this increase related primarily to a 58% ( 58 % ) increase in sales of mac portable products and strong ipod sales in the company 2019s asia pacific region .", "during 2006 , net sales in other segments increased 35% ( 35 % ) compared to 2005 primarily due to an increase in sales of ipod and mac portable products .", "strong sales growth was a result of the introduction of the updated ipods featuring video-playing capabilities and the new intel-based mac portable products that translated to a 16% ( 16 % ) increase in mac unit sales during 2006 compared to 2005 .", "gross margin gross margin for each of the last three fiscal years are as follows ( in millions , except gross margin percentages ) : september 29 , september 30 , september 24 , 2007 2006 2005 ." ]

[ "gross margin percentage of 34.0% ( 34.0 % ) in 2007 increased significantly from 29.0% ( 29.0 % ) in 2006 .", "the primary drivers of this increase were more favorable costs on certain commodity components , including nand flash memory and dram memory , higher overall revenue that provided for more leverage on fixed production costs and a higher percentage of revenue from the company 2019s direct sales channels .", "the company anticipates that its gross margin and the gross margins of the personal computer , consumer electronics and mobile communication industries will be subject to pressure due to price competition .", "the company expects gross margin percentage to decline sequentially in the first quarter of 2008 primarily as a result of the full-quarter impact of product transitions and reduced pricing that were effected in the fourth quarter of 2007 , lower sales of ilife and iwork in their second quarter of availability , seasonally higher component costs , and a higher mix of indirect sales .", "these factors are expected to be partially offset by higher sales of the company 2019s mac os x operating system due to the introduction of mac os x version 10.5 leopard ( 2018 2018mac os x leopard 2019 2019 ) that became available in october 2007 .", "the foregoing statements regarding the company 2019s expected gross margin percentage are forward-looking .", "there can be no assurance that current gross margin percentage will be maintained or targeted gross margin percentage levels will be achieved .", "in general , gross margins and margins on individual products will remain under downward pressure due to a variety of factors , including continued industry wide global pricing pressures , increased competition , compressed product life cycles , potential increases in the cost and availability of raw material and outside manufacturing services , and a potential shift in the company 2019s sales mix towards products with lower gross margins .", "in response to these competitive pressures , the company expects it will continue to take pricing actions with respect to its products .", "gross margins could also be affected by the company 2019s ability to effectively manage product quality and warranty costs and to stimulate ." ]

[ [ "", "September 29, 2007", "September 30, 2006", "September 24, 2005" ], [ "Net sales", "$24,006", "$19,315", "$13,931" ], [ "Cost of sales", "15,852", "13,717", "9,889" ], [ "Gross margin", "$8,154", "$5,598", "$4,042" ], [ "Gross margin percentage", "34.0%", "29.0%", "29.0%" ] ]

[ [ "", "september 29 2007", "september 30 2006", "september 24 2005" ], [ "net sales", "$ 24006", "$ 19315", "$ 13931" ], [ "cost of sales", "15852", "13717", "9889" ], [ "gross margin", "$ 8154", "$ 5598", "$ 4042" ], [ "gross margin percentage", "34.0% ( 34.0 % )", "29.0% ( 29.0 % )", "29.0% ( 29.0 % )" ] ]

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[ "the pnc financial services group , inc .", "2013 form 10-k 65 liquidity and capital management liquidity risk has two fundamental components .", "the first is potential loss assuming we were unable to meet our funding requirements at a reasonable cost .", "the second is the potential inability to operate our businesses because adequate contingent liquidity is not available .", "we manage liquidity risk at the consolidated company level ( bank , parent company and nonbank subsidiaries combined ) to help ensure that we can obtain cost-effective funding to meet current and future obligations under both normal 201cbusiness as usual 201d and stressful circumstances , and to help ensure that we maintain an appropriate level of contingent liquidity .", "management monitors liquidity through a series of early warning indicators that may indicate a potential market , or pnc-specific , liquidity stress event .", "in addition , management performs a set of liquidity stress tests over multiple time horizons with varying levels of severity and maintains a contingency funding plan to address a potential liquidity stress event .", "in the most severe liquidity stress simulation , we assume that our liquidity position is under pressure , while the market in general is under systemic pressure .", "the simulation considers , among other things , the impact of restricted access to both secured and unsecured external sources of funding , accelerated run-off of customer deposits , valuation pressure on assets and heavy demand to fund committed obligations .", "parent company liquidity guidelines are designed to help ensure that sufficient liquidity is available to meet our parent company obligations over the succeeding 24-month period .", "liquidity-related risk limits are established within our enterprise liquidity management policy and supporting policies .", "management committees , including the asset and liability committee , and the board of directors and its risk committee regularly review compliance with key established limits .", "in addition to these liquidity monitoring measures and tools described above , we also monitor our liquidity by reference to the liquidity coverage ratio ( lcr ) which is further described in the supervision and regulation section in item 1 of this report .", "pnc and pnc bank calculate the lcr on a daily basis and as of december 31 , 2018 , the lcr for pnc and pnc bank exceeded the fully phased-in requirement of 100% ( 100 % ) .", "we provide additional information regarding regulatory liquidity requirements and their potential impact on us in the supervision and regulation section of item 1 business and item 1a risk factors of this report .", "sources of liquidity our largest source of liquidity on a consolidated basis is the customer deposit base generated by our banking businesses .", "these deposits provide relatively stable and low-cost funding .", "total deposits increased to $ 267.8 billion at december 31 , 2018 from $ 265.1 billion at december 31 , 2017 driven by growth in interest-bearing deposits partially offset by a decrease in noninterest-bearing deposits .", "see the funding sources section of the consolidated balance sheet review in this report for additional information related to our deposits .", "additionally , certain assets determined by us to be liquid as well as unused borrowing capacity from a number of sources are also available to manage our liquidity position .", "at december 31 , 2018 , our liquid assets consisted of short-term investments ( federal funds sold , resale agreements , trading securities and interest-earning deposits with banks ) totaling $ 22.1 billion and securities available for sale totaling $ 63.4 billion .", "the level of liquid assets fluctuates over time based on many factors , including market conditions , loan and deposit growth and balance sheet management activities .", "our liquid assets included $ 2.7 billion of securities available for sale and trading securities pledged as collateral to secure public and trust deposits , repurchase agreements and for other purposes .", "in addition , $ 4.9 billion of securities held to maturity were also pledged as collateral for these purposes .", "we also obtain liquidity through various forms of funding , including long-term debt ( senior notes , subordinated debt and fhlb borrowings ) and short-term borrowings ( securities sold under repurchase agreements , commercial paper and other short-term borrowings ) .", "see note 10 borrowed funds and the funding sources section of the consolidated balance sheet review in this report for additional information related to our borrowings .", "total senior and subordinated debt , on a consolidated basis , decreased due to the following activity : table 24 : senior and subordinated debt ." ]

[ "." ]

[ [ "In billions", "2018" ], [ "January 1", "$33.3" ], [ "Issuances", "4.5" ], [ "Calls and maturities", "(6.8)" ], [ "Other", "(.1)" ], [ "December 31", "$30.9" ] ]

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[ "entergy new orleans , inc .", "management's financial discussion and analysis results of operations net income ( loss ) 2004 compared to 2003 net income increased $ 20.2 million primarily due to higher net revenue .", "2003 compared to 2002 entergy new orleans had net income of $ 7.9 million in 2003 compared to a net loss in 2002 .", "the increase was due to higher net revenue and lower interest expense , partially offset by higher other operation and maintenance expenses and depreciation and amortization expenses .", "net revenue 2004 compared to 2003 net revenue , which is entergy new orleans' measure of gross margin , consists of operating revenues net of : 1 ) fuel , fuel-related , and purchased power expenses and 2 ) other regulatory credits .", "following is an analysis of the change in net revenue comparing 2004 to 2003. ." ]

[ "the increase in base rates was effective june 2003 .", "the rate increase is discussed in note 2 to the domestic utility companies and system energy financial statements .", "the volume/weather variance is primarily due to increased billed electric usage of 162 gwh in the industrial service sector .", "the increase was partially offset by milder weather in the residential and commercial sectors .", "the 2004 deferrals variance is due to the deferral of voluntary severance plan and fossil plant maintenance expenses in accordance with a stipulation approved by the city council in august 2004 .", "the stipulation allows for the recovery of these costs through amortization of a regulatory asset .", "the voluntary severance plan and fossil plant maintenance expenses are being amortized over a five-year period that became effective january 2004 and january 2003 , respectively .", "the formula rate plan is discussed in note 2 to the domestic utility companies and system energy financial statements .", "the price applied to unbilled electric sales variance is due to an increase in the fuel price applied to unbilled sales. ." ]

[ [ "", "(In Millions)" ], [ "2003 net revenue", "$208.3" ], [ "Base rates", "10.6" ], [ "Volume/weather", "8.3" ], [ "2004 deferrals", "7.5" ], [ "Price applied to unbilled electric sales", "3.7" ], [ "Other", "0.6" ], [ "2004 net revenue", "$239.0" ] ]

[ [ "", "( in millions )" ], [ "2003 net revenue", "$ 208.3" ], [ "base rates", "10.6" ], [ "volume/weather", "8.3" ], [ "2004 deferrals", "7.5" ], [ "price applied to unbilled electric sales", "3.7" ], [ "other", "0.6" ], [ "2004 net revenue", "$ 239.0" ] ]

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[ "kimco realty corporation and subsidiaries notes to consolidated financial statements , continued uncertain tax positions : the company is subject to income tax in certain jurisdictions outside the u.s. , principally canada and mexico .", "the statute of limitations on assessment of tax varies from three to seven years depending on the jurisdiction and tax issue .", "tax returns filed in each jurisdiction are subject to examination by local tax authorities .", "the company is currently under audit by the canadian revenue agency , mexican tax authority and the u.s .", "internal revenue service ( 201cirs 201d ) .", "in october 2011 , the irs issued a notice of proposed adjustment , which proposes pursuant to section 482 of the code , to disallow a capital loss claimed by krs on the disposition of common shares of valad property ltd. , an australian publicly listed company .", "because the adjustment is being made pursuant to section 482 of the code , the irs believes it can assert a 100 percent 201cpenalty 201d tax pursuant to section 857 ( b ) ( 7 ) of the code and disallow the capital loss deduction .", "the notice of proposed adjustment indicates the irs 2019 intention to impose the 100 percent 201cpenalty 201d tax on the company in the amount of $ 40.9 million and disallowing the capital loss claimed by krs .", "the company and its outside counsel have considered the irs 2019 assessment and believe that there is sufficient documentation establishing a valid business purpose for the transfer , including recent case history showing support for similar positions .", "accordingly , the company strongly disagrees with the irs 2019 position on the application of section 482 of the code to the disposition of the shares , the imposition of the 100 percent penalty tax and the simultaneous assertion of the penalty tax and disallowance of the capital loss deduction .", "the company received a notice of proposed assessment and filed a written protest and requested an irs appeals office conference .", "an appeals hearing was attended by management and its attorneys , the irs compliance group and an irs appeals officer in november , 2014 , at which time irs compliance presented arguments in support of their position , as noted herein .", "management and its attorneys presented rebuttal arguments in support of its position .", "the matter is currently under consideration by the appeals officer .", "the company intends to vigorously defend its position in this matter and believes it will prevail .", "resolutions of these audits are not expected to have a material effect on the company 2019s financial statements .", "during 2013 , the company early adopted asu 2013-11 prospectively and reclassified a portion of its reserve for uncertain tax positions .", "the reserve for uncertain tax positions included amounts related to the company 2019s canadian operations .", "the company has unrecognized tax benefits reported as deferred tax assets and are available to settle adjustments made with respect to the company 2019s uncertain tax positions in canada .", "the company reduced its reserve for uncertain tax positions by $ 12.3 million associated with its canadian operations and reduced its deferred tax assets in accordance with asu 2013-11 .", "the company does not believe that the total amount of unrecognized tax benefits as of december 31 , 2014 , will significantly increase or decrease within the next 12 months .", "as of december 31 , 2014 , the company 2019s canadian uncertain tax positions , which reduce its deferred tax assets , aggregated $ 10.4 million .", "the liability for uncertain tax benefits principally consists of estimated foreign , federal and state income tax liabilities in years for which the statute of limitations is open .", "open years range from 2008 through 2014 and vary by jurisdiction and issue .", "the aggregate changes in the balance of unrecognized tax benefits for the years ended december 31 , 2014 and 2013 were as follows ( in thousands ) : ." ]

[ "( a ) this amount was reclassified against the related deferred tax asset relating to the company 2019s early adoption of asu 2013-11 as discussed above. ." ]

[ [ "", "201 4", "2013" ], [ "Balance, beginning of year", "$4,590", "$16,890" ], [ "Increases for tax positions related to current year", "59", "15" ], [ "Reduction due to adoption of ASU 2013-11(a)", "-", "(12,315)" ], [ "Balance, end of year", "$4,649", "$4,590" ] ]

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[ "state street corporation | 52 shareholder return performance presentation the graph presented below compares the cumulative total shareholder return on state street's common stock to the cumulative total return of the s&p 500 index , the s&p financial index and the kbw bank index over a five-year period .", "the cumulative total shareholder return assumes the investment of $ 100 in state street common stock and in each index on december 31 , 2012 .", "it also assumes reinvestment of common stock dividends .", "the s&p financial index is a publicly available , capitalization-weighted index , comprised of 67 of the standard & poor 2019s 500 companies , representing 27 diversified financial services companies , 23 insurance companies , and 17 banking companies .", "the kbw bank index is a modified cap-weighted index consisting of 24 exchange-listed stocks , representing national money center banks and leading regional institutions. ." ]

[ "." ]

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[ "fis gaming business on june 1 , 2015 , we acquired certain assets of certegy check services , inc. , a wholly-owned subsidiary of fidelity national information services , inc .", "( 201cfis 201d ) .", "under the purchase arrangement , we acquired substantially all of the assets of its gaming business related to licensed gaming operators ( the 201cfis gaming business 201d ) , including relationships with gaming clients in approximately 260 locations as of the acquisition date , for $ 237.5 million , funded from borrowings on our revolving credit facility and cash on hand .", "we acquired the fis gaming business to expand our direct distribution and service offerings in the gaming market .", "the estimated acquisition-date fair values of major classes of assets acquired and liabilities assumed , including a reconciliation to the total purchase consideration , were as follows ( in thousands ) : ." ]

[ "goodwill arising from the acquisition , included in the north america segment , was attributable to an expected growth opportunities , including cross-selling opportunities at existing and acquired gaming client locations and operating synergies in the gaming business , and an assembled workforce .", "goodwill associated with this acquisition is deductible for income tax purposes .", "the customer-related intangible assets have an estimated amortization period of 15 years .", "valuation of identified intangible assets for the acquisitions discussed above , the estimated fair values of customer-related intangible assets were determined using the income approach , which was based on projected cash flows discounted to their present value using discount rates that consider the timing and risk of the forecasted cash flows .", "the discount rates used represented the average estimated value of a market participant 2019s cost of capital and debt , derived using customary market metrics .", "acquired technologies were valued using the replacement cost method , which required us to estimate the costs to construct an asset of equivalent utility at prices available at the time of the valuation analysis , with adjustments in value for physical deterioration and functional and economic obsolescence .", "trademarks and trade names were valued using the 201crelief-from-royalty 201d approach .", "this method assumes that trademarks and trade names have value to the extent that their owner is relieved of the obligation to pay royalties for the benefits received from them .", "this method required us to estimate the future revenues for the related brands , the appropriate royalty rate and the weighted-average cost of capital .", "the discount rates used represented the average estimated value of a market participant 2019s cost of capital and debt , derived using customary market metrics .", "note 3 2014 revenues we are a leading worldwide provider of payment technology and software solutions delivering innovative services to our customers globally .", "our technologies , services and employee expertise enable us to provide a broad range of solutions that allow our customers to accept various payment types and operate their businesses more efficiently .", "we distribute our services across a variety of channels to customers .", "the disclosures in this note are applicable for the year ended december 31 , 2018 .", "global payments inc .", "| 2018 form 10-k annual report 2013 79 ." ]

[ [ "Customer-related intangible assets", "$143,400" ], [ "Liabilities", "(150)" ], [ "Total identifiable net assets", "143,250" ], [ "Goodwill", "94,250" ], [ "Total purchase consideration", "$237,500" ] ]

[ [ "customer-related intangible assets", "$ 143400" ], [ "liabilities", "-150 ( 150 )" ], [ "total identifiable net assets", "143250" ], [ "goodwill", "94250" ], [ "total purchase consideration", "$ 237500" ] ]

[]

[ "note 9 2014 benefit plans the company has defined benefit pension plans covering certain employees in the united states and certain international locations .", "postretirement healthcare and life insurance benefits provided to qualifying domestic retirees as well as other postretirement benefit plans in international countries are not material .", "the measurement date used for the company 2019s employee benefit plans is september 30 .", "effective january 1 , 2018 , the legacy u.s .", "pension plan was frozen to limit the participation of employees who are hired or re-hired by the company , or who transfer employment to the company , on or after january 1 , net pension cost for the years ended september 30 included the following components: ." ]

[ "net pension cost included in the preceding table that is attributable to international plans $ 32 $ 34 $ 43 the amounts provided above for amortization of prior service credit and amortization of loss represent the reclassifications of prior service credits and net actuarial losses that were recognized in accumulated other comprehensive income ( loss ) in prior periods .", "the settlement losses recorded in 2019 and 2018 primarily included lump sum benefit payments associated with the company 2019s u.s .", "supplemental pension plan .", "the company recognizes pension settlements when payments from the supplemental plan exceed the sum of service and interest cost components of net periodic pension cost associated with this plan for the fiscal year .", "as further discussed in note 2 , upon adopting an accounting standard update on october 1 , 2018 , all components of the company 2019s net periodic pension and postretirement benefit costs , aside from service cost , are recorded to other income ( expense ) , net on its consolidated statements of income , for all periods presented .", "notes to consolidated financial statements 2014 ( continued ) becton , dickinson and company ." ]

[ [ "", "Pension Plans" ], [ "(Millions of dollars)", "2019", "2018", "2017" ], [ "Service cost", "$134", "$136", "$110" ], [ "Interest cost", "107", "90", "61" ], [ "Expected return on plan assets", "( 180)", "( 154)", "( 112)" ], [ "Amortization of prior service credit", "( 13)", "( 13)", "( 14)" ], [ "Amortization of loss", "78", "78", "92" ], [ "Settlements", "10", "2", "—" ], [ "Net pension cost", "$135", "$137", "$138" ], [ "Net pension cost included in the preceding table that is attributable to international plans", "$32", "$34", "$43" ] ]

[ [ "( millions of dollars )", "pension plans 2019", "pension plans 2018", "pension plans 2017" ], [ "service cost", "$ 134", "$ 136", "$ 110" ], [ "interest cost", "107", "90", "61" ], [ "expected return on plan assets", "( 180 )", "( 154 )", "( 112 )" ], [ "amortization of prior service credit", "( 13 )", "( 13 )", "( 14 )" ], [ "amortization of loss", "78", "78", "92" ], [ "settlements", "10", "2", "2014" ], [ "net pension cost", "$ 135", "$ 137", "$ 138" ], [ "net pension cost included in the preceding table that is attributable to international plans", "$ 32", "$ 34", "$ 43" ] ]

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[ "part ii item 5 .", "market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities .", "our series a common stock , series b common stock and series c common stock are listed and traded on the nasdaq global select market ( 201cnasdaq 201d ) under the symbols 201cdisca , 201d 201cdiscb 201d and 201cdisck , 201d respectively .", "the following table sets forth , for the periods indicated , the range of high and low sales prices per share of our series a common stock , series b common stock and series c common stock as reported on yahoo! finance ( finance.yahoo.com ) .", "series a common stock series b common stock series c common stock high low high low high low fourth quarter $ 23.73 $ 16.28 $ 26.80 $ 20.00 $ 22.47 $ 15.27 third quarter $ 27.18 $ 20.80 $ 27.90 $ 22.00 $ 26.21 $ 19.62 second quarter $ 29.40 $ 25.11 $ 29.55 $ 25.45 $ 28.90 $ 24.39 first quarter $ 29.62 $ 26.34 $ 29.65 $ 27.55 $ 28.87 $ 25.76 fourth quarter $ 29.55 $ 25.01 $ 30.50 $ 26.00 $ 28.66 $ 24.20 third quarter $ 26.97 $ 24.27 $ 28.00 $ 25.21 $ 26.31 $ 23.44 second quarter $ 29.31 $ 23.73 $ 29.34 $ 24.15 $ 28.48 $ 22.54 first quarter $ 29.42 $ 24.33 $ 29.34 $ 24.30 $ 28.00 $ 23.81 as of february 21 , 2018 , there were approximately 1308 , 75 and 1414 record holders of our series a common stock , series b common stock and series c common stock , respectively .", "these amounts do not include the number of shareholders whose shares are held of record by banks , brokerage houses or other institutions , but include each such institution as one shareholder .", "we have not paid any cash dividends on our series a common stock , series b common stock or series c common stock , and we have no present intention to do so .", "payment of cash dividends , if any , will be determined by our board of directors after consideration of our earnings , financial condition and other relevant factors such as our credit facility's restrictions on our ability to declare dividends in certain situations .", "purchases of equity securities the following table presents information about our repurchases of common stock that were made through open market transactions during the three months ended december 31 , 2017 ( in millions , except per share amounts ) .", "period total number of series c shares purchased average paid per share : series c ( a ) total number of shares purchased as part of publicly announced plans or programs ( b ) ( c ) approximate dollar value of shares that may yet be purchased under the plans or programs ( a ) ( b ) october 1 , 2017 - october 31 , 2017 2014 $ 2014 2014 $ 2014 november 1 , 2017 - november 30 , 2017 2014 $ 2014 2014 $ 2014 december 1 , 2017 - december 31 , 2017 2014 $ 2014 2014 $ 2014 total 2014 2014 $ 2014 ( a ) the amounts do not give effect to any fees , commissions or other costs associated with repurchases of shares .", "( b ) under the stock repurchase program , management was authorized to purchase shares of the company's common stock from time to time through open market purchases or privately negotiated transactions at prevailing prices or pursuant to one or more accelerated stock repurchase agreements or other derivative arrangements as permitted by securities laws and other legal requirements , and subject to stock price , business and market conditions and other factors .", "the company's authorization under the program expired on october 8 , 2017 and we have not repurchased any shares of common stock since then .", "we historically have funded and in the future may fund stock repurchases through a combination of cash on hand and cash generated by operations and the issuance of debt .", "in the future , if further authorization is provided , we may also choose to fund stock repurchases through borrowings under our revolving credit facility or future financing transactions .", "there were no repurchases of our series a and b common stock during 2017 and no repurchases of series c common stock during the three months ended december 31 , 2017 .", "the company first announced its stock repurchase program on august 3 , 2010 .", "( c ) we entered into an agreement with advance/newhouse to repurchase , on a quarterly basis , a number of shares of series c-1 convertible preferred stock convertible into a number of shares of series c common stock .", "we did not convert any any shares of series c-1 convertible preferred stock during the three months ended december 31 , 2017 .", "there are no planned repurchases of series c-1 convertible preferred stock for the first quarter of 2018 as there were no repurchases of series a or series c common stock during the three months ended december 31 , 2017 .", "stock performance graph the following graph sets forth the cumulative total shareholder return on our series a common stock , series b common stock and series c common stock as compared with the cumulative total return of the companies listed in the standard and poor 2019s 500 stock index ( 201cs&p 500 index 201d ) and a peer group of companies comprised of cbs corporation class b common stock , scripps network interactive , inc. , time warner , inc. , twenty-first century fox , inc .", "class a common stock ( news corporation class a common stock prior to june 2013 ) , viacom , inc .", "class b common stock and the walt disney company .", "the graph assumes $ 100 originally invested on december 31 , 2012 in each of our series a common stock , series b common stock and series c common stock , the s&p 500 index , and the stock of our peer group companies , including reinvestment of dividends , for the years ended december 31 , 2013 , 2014 , 2015 , 2016 and 2017 .", "december 31 , december 31 , december 31 , december 31 , december 31 , december 31 ." ]

[ "." ]

[ [ "", "December 31,2012", "December 31,2013", "December 31,2014", "December 31,2015", "December 31,2016", "December 31,2017" ], [ "DISCA", "$100.00", "$139.42", "$106.23", "$82.27", "$84.53", "$69.01" ], [ "DISCB", "$100.00", "$144.61", "$116.45", "$85.03", "$91.70", "$78.01" ], [ "DISCK", "$100.00", "$143.35", "$115.28", "$86.22", "$91.56", "$72.38" ], [ "S&P 500", "$100.00", "$129.60", "$144.36", "$143.31", "$156.98", "$187.47" ], [ "Peer Group", "$100.00", "$163.16", "$186.87", "$180.10", "$200.65", "$208.79" ] ]

[ [ "", "december 312012", "december 312013", "december 312014", "december 312015", "december 312016", "december 312017" ], [ "disca", "$ 100.00", "$ 139.42", "$ 106.23", "$ 82.27", "$ 84.53", "$ 69.01" ], [ "discb", "$ 100.00", "$ 144.61", "$ 116.45", "$ 85.03", "$ 91.70", "$ 78.01" ], [ "disck", "$ 100.00", "$ 143.35", "$ 115.28", "$ 86.22", "$ 91.56", "$ 72.38" ], [ "s&p 500", "$ 100.00", "$ 129.60", "$ 144.36", "$ 143.31", "$ 156.98", "$ 187.47" ], [ "peer group", "$ 100.00", "$ 163.16", "$ 186.87", "$ 180.10", "$ 200.65", "$ 208.79" ] ]

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[ "a valuation allowance has been established for certain deferred tax assets related to the impairment of investments .", "accounting for uncertainty in income taxes during fiscal 2011 and 2010 , our aggregate changes in our total gross amount of unrecognized tax benefits are summarized as follows ( in thousands ) : beginning balance gross increases in unrecognized tax benefits 2013 prior year tax positions gross decreases in unrecognized tax benefits 2013 prior year tax positions gross increases in unrecognized tax benefits 2013 current year tax positions settlements with taxing authorities lapse of statute of limitations foreign exchange gains and losses ending balance $ 156925 11901 ( 4154 ) 32420 ( 29101 ) ( 3825 ) $ 163607 $ 218040 ( 7104 ) 15108 ( 70484 ) ( 7896 ) $ 156925 as of december 2 , 2011 , the combined amount of accrued interest and penalties related to tax positions taken on our tax returns and included in non-current income taxes payable was approximately $ 12.3 million .", "we file income tax returns in the u.s .", "on a federal basis and in many u.s .", "state and foreign jurisdictions .", "we are subject to the continual examination of our income tax returns by the irs and other domestic and foreign tax authorities .", "our major tax jurisdictions are the u.s. , ireland and california .", "for california , ireland and the u.s. , the earliest fiscal years open for examination are 2005 , 2006 and 2008 , respectively .", "we regularly assess the likelihood of outcomes resulting from these examinations to determine the adequacy of our provision for income taxes and have reserved for potential adjustments that may result from the current examination .", "we believe such estimates to be reasonable ; however , there can be no assurance that the final determination of any of these examinations will not have an adverse effect on our operating results and financial position .", "in august 2011 , a canadian income tax examination covering our fiscal years 2005 through 2008 was completed .", "our accrued tax and interest related to these years was approximately $ 35 million and was previously reported in long-term income taxes payable .", "we reclassified approximately $ 17 million to short-term income taxes payable and decreased deferred tax assets by approximately $ 18 million in conjunction with the aforementioned resolution .", "the $ 17 million balance in short-term income taxes payable is partially secured by a letter of credit and is expected to be paid by the first quarter of fiscal 2012 .", "in october 2010 , a u.s .", "income tax examination covering our fiscal years 2005 through 2007 was completed .", "our accrued tax and interest related to these years was $ 59 million and was previously reported in long-term income taxes payable .", "we paid $ 20 million in conjunction with the aforementioned resolution .", "a net income statement tax benefit in the fourth quarter of fiscal 2010 of $ 39 million resulted .", "the timing of the resolution of income tax examinations is highly uncertain as are the amounts and timing of tax payments that are part of any audit settlement process .", "these events could cause large fluctuations in the balance sheet classification of current and non-current assets and liabilities .", "the company believes that before the end of fiscal 2012 , it is reasonably possible that either certain audits will conclude or statutes of limitations on certain income tax examination periods will expire , or both .", "given the uncertainties described above , we can only determine a range of estimated potential decreases in underlying unrecognized tax benefits ranging from $ 0 to approximately $ 40 million .", "these amounts would decrease income tax expense under current gaap related to income taxes .", "note 11 .", "restructuring fiscal 2011 restructuring plan in the fourth quarter of fiscal 2011 , in order to better align our resources around our digital media and digital marketing strategies , we initiated a restructuring plan consisting of reductions of approximately 700 full-time positions worldwide and we recorded restructuring charges of approximately $ 78.6 million related to ongoing termination benefits for the position eliminated .", "table of contents adobe systems incorporated notes to consolidated financial statements ( continued ) ." ]

[ "a valuation allowance has been established for certain deferred tax assets related to the impairment of investments .", "accounting for uncertainty in income taxes during fiscal 2011 and 2010 , our aggregate changes in our total gross amount of unrecognized tax benefits are summarized as follows ( in thousands ) : beginning balance gross increases in unrecognized tax benefits 2013 prior year tax positions gross decreases in unrecognized tax benefits 2013 prior year tax positions gross increases in unrecognized tax benefits 2013 current year tax positions settlements with taxing authorities lapse of statute of limitations foreign exchange gains and losses ending balance $ 156925 11901 ( 4154 ) 32420 ( 29101 ) ( 3825 ) $ 163607 $ 218040 ( 7104 ) 15108 ( 70484 ) ( 7896 ) $ 156925 as of december 2 , 2011 , the combined amount of accrued interest and penalties related to tax positions taken on our tax returns and included in non-current income taxes payable was approximately $ 12.3 million .", "we file income tax returns in the u.s .", "on a federal basis and in many u.s .", "state and foreign jurisdictions .", "we are subject to the continual examination of our income tax returns by the irs and other domestic and foreign tax authorities .", "our major tax jurisdictions are the u.s. , ireland and california .", "for california , ireland and the u.s. , the earliest fiscal years open for examination are 2005 , 2006 and 2008 , respectively .", "we regularly assess the likelihood of outcomes resulting from these examinations to determine the adequacy of our provision for income taxes and have reserved for potential adjustments that may result from the current examination .", "we believe such estimates to be reasonable ; however , there can be no assurance that the final determination of any of these examinations will not have an adverse effect on our operating results and financial position .", "in august 2011 , a canadian income tax examination covering our fiscal years 2005 through 2008 was completed .", "our accrued tax and interest related to these years was approximately $ 35 million and was previously reported in long-term income taxes payable .", "we reclassified approximately $ 17 million to short-term income taxes payable and decreased deferred tax assets by approximately $ 18 million in conjunction with the aforementioned resolution .", "the $ 17 million balance in short-term income taxes payable is partially secured by a letter of credit and is expected to be paid by the first quarter of fiscal 2012 .", "in october 2010 , a u.s .", "income tax examination covering our fiscal years 2005 through 2007 was completed .", "our accrued tax and interest related to these years was $ 59 million and was previously reported in long-term income taxes payable .", "we paid $ 20 million in conjunction with the aforementioned resolution .", "a net income statement tax benefit in the fourth quarter of fiscal 2010 of $ 39 million resulted .", "the timing of the resolution of income tax examinations is highly uncertain as are the amounts and timing of tax payments that are part of any audit settlement process .", "these events could cause large fluctuations in the balance sheet classification of current and non-current assets and liabilities .", "the company believes that before the end of fiscal 2012 , it is reasonably possible that either certain audits will conclude or statutes of limitations on certain income tax examination periods will expire , or both .", "given the uncertainties described above , we can only determine a range of estimated potential decreases in underlying unrecognized tax benefits ranging from $ 0 to approximately $ 40 million .", "these amounts would decrease income tax expense under current gaap related to income taxes .", "note 11 .", "restructuring fiscal 2011 restructuring plan in the fourth quarter of fiscal 2011 , in order to better align our resources around our digital media and digital marketing strategies , we initiated a restructuring plan consisting of reductions of approximately 700 full-time positions worldwide and we recorded restructuring charges of approximately $ 78.6 million related to ongoing termination benefits for the position eliminated .", "table of contents adobe systems incorporated notes to consolidated financial statements ( continued ) ." ]

[ [ "", "2011", "2010" ], [ "Beginning balance", "$156,925", "$218,040" ], [ "Gross increases in unrecognized tax benefits – prior year tax positions", "11,901", "9,580" ], [ "Gross decreases in unrecognized tax benefits – prior year tax positions", "(4,154)", "(7,104)" ], [ "Gross increases in unrecognized tax benefits – current year tax positions", "32,420", "15,108" ], [ "Settlements with taxing authorities", "(29,101)", "(70,484)" ], [ "Lapse of statute of limitations", "(3,825)", "(7,896)" ], [ "Foreign exchange gains and losses", "(559)", "(319)" ], [ "Ending balance", "$163,607", "$156,925" ] ]

[ [ "", "2011", "2010" ], [ "beginning balance", "$ 156925", "$ 218040" ], [ "gross increases in unrecognized tax benefits 2013 prior year tax positions", "11901", "9580" ], [ "gross decreases in unrecognized tax benefits 2013 prior year tax positions", "-4154 ( 4154 )", "-7104 ( 7104 )" ], [ "gross increases in unrecognized tax benefits 2013 current year tax positions", "32420", "15108" ], [ "settlements with taxing authorities", "-29101 ( 29101 )", "-70484 ( 70484 )" ], [ "lapse of statute of limitations", "-3825 ( 3825 )", "-7896 ( 7896 )" ], [ "foreign exchange gains and losses", "-559 ( 559 )", "-319 ( 319 )" ], [ "ending balance", "$ 163607", "$ 156925" ] ]

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[ "note 18 2013 earnings per share ( eps ) basic eps is calculated by dividing net earnings attributable to allegion plc by the weighted-average number of ordinary shares outstanding for the applicable period .", "diluted eps is calculated after adjusting the denominator of the basic eps calculation for the effect of all potentially dilutive ordinary shares , which in the company 2019s case , includes shares issuable under share-based compensation plans .", "the following table summarizes the weighted-average number of ordinary shares outstanding for basic and diluted earnings per share calculations. ." ]

[ "at december 31 , 2017 , 0.1 million stock options were excluded from the computation of weighted average diluted shares outstanding because the effect of including these shares would have been anti-dilutive .", "note 19 2013 commitments and contingencies the company is involved in various litigations , claims and administrative proceedings , including those related to environmental and product warranty matters .", "amounts recorded for identified contingent liabilities are estimates , which are reviewed periodically and adjusted to reflect additional information when it becomes available .", "subject to the uncertainties inherent in estimating future costs for contingent liabilities , except as expressly set forth in this note , management believes that any liability which may result from these legal matters would not have a material adverse effect on the financial condition , results of operations , liquidity or cash flows of the company .", "environmental matters the company is dedicated to an environmental program to reduce the utilization and generation of hazardous materials during the manufacturing process and to remediate identified environmental concerns .", "as to the latter , the company is currently engaged in site investigations and remediation activities to address environmental cleanup from past operations at current and former production facilities .", "the company regularly evaluates its remediation programs and considers alternative remediation methods that are in addition to , or in replacement of , those currently utilized by the company based upon enhanced technology and regulatory changes .", "changes to the company's remediation programs may result in increased expenses and increased environmental reserves .", "the company is sometimes a party to environmental lawsuits and claims and has received notices of potential violations of environmental laws and regulations from the u.s .", "environmental protection agency and similar state authorities .", "it has also been identified as a potentially responsible party ( \"prp\" ) for cleanup costs associated with off-site waste disposal at federal superfund and state remediation sites .", "for all such sites , there are other prps and , in most instances , the company 2019s involvement is minimal .", "in estimating its liability , the company has assumed it will not bear the entire cost of remediation of any site to the exclusion of other prps who may be jointly and severally liable .", "the ability of other prps to participate has been taken into account , based on our understanding of the parties 2019 financial condition and probable contributions on a per site basis .", "additional lawsuits and claims involving environmental matters are likely to arise from time to time in the future .", "the company incurred $ 3.2 million , $ 23.3 million , and $ 4.4 million of expenses during the years ended december 31 , 2017 , 2016 and 2015 , respectively , for environmental remediation at sites presently or formerly owned or leased by the company .", "in the fourth-quarter of 2016 , with the collaboration and approval of state regulators , the company launched a proactive , alternative approach to remediate two sites in the united states .", "this approach will allow the company to more aggressively address environmental conditions at these sites and reduce the impact of potential changes in regulatory requirements .", "as a result , the company recorded a $ 15 million charge for environmental remediation in the fourth quarter of 2016 .", "environmental remediation costs are recorded in costs of goods sold within the consolidated statements of comprehensive income .", "as of december 31 , 2017 and 2016 , the company has recorded reserves for environmental matters of $ 28.9 million and $ 30.6 million .", "the total reserve at december 31 , 2017 and 2016 included $ 8.9 million and $ 9.6 million related to remediation of sites previously disposed by the company .", "environmental reserves are classified as accrued expenses and other current liabilities or other noncurrent liabilities based on their expected term .", "the company's total current environmental reserve at december 31 , 2017 and 2016 was $ 12.6 million and $ 6.1 million and the remainder is classified as noncurrent .", "given the evolving nature of environmental laws , regulations and technology , the ultimate cost of future compliance is uncertain. ." ]

[ [ "In millions", "2017", "2016", "2015" ], [ "Weighted-average number of basic shares", "95.1", "95.8", "95.9" ], [ "Shares issuable under incentive stock plans", "0.9", "1.1", "1.0" ], [ "Weighted-average number of diluted shares", "96.0", "96.9", "96.9" ] ]

[ [ "in millions", "2017", "2016", "2015" ], [ "weighted-average number of basic shares", "95.1", "95.8", "95.9" ], [ "shares issuable under incentive stock plans", "0.9", "1.1", "1.0" ], [ "weighted-average number of diluted shares", "96.0", "96.9", "96.9" ] ]

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[ "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" ] ]

[]

[ "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" ] ]

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[ "notes to consolidated financial statements 2014 ( continued ) ( amounts in millions , except per share amounts ) sales of businesses and investments 2013 primarily includes realized gains and losses relating to the sales of businesses , cumulative translation adjustment balances from the liquidation of entities and sales of marketable securities and investments in publicly traded and privately held companies in our rabbi trusts .", "during 2009 , we realized a gain of $ 15.2 related to the sale of an investment in our rabbi trusts , which was partially offset by losses realized from the sale of various businesses .", "losses in 2007 primarily related to the sale of several businesses within draftfcb for a loss of $ 9.3 and charges at lowe of $ 7.8 as a result of the realization of cumulative translation adjustment balances from the liquidation of several businesses .", "vendor discounts and credit adjustments 2013 we are in the process of settling our liabilities related to vendor discounts and credits established during the restatement we presented in our 2004 annual report on form 10-k .", "these adjustments reflect the reversal of certain of these liabilities as a result of settlements with clients or vendors or where the statute of limitations has lapsed .", "litigation settlement 2013 during may 2008 , the sec concluded its investigation that began in 2002 into our financial reporting practices , resulting in a settlement charge of $ 12.0 .", "investment impairments 2013 in 2007 we realized an other-than-temporary charge of $ 5.8 relating to a $ 12.5 investment in auction rate securities , representing our total investment in auction rate securities .", "see note 12 for further information .", "note 5 : intangible assets goodwill goodwill is the excess purchase price remaining from an acquisition after an allocation of purchase price has been made to identifiable assets acquired and liabilities assumed based on estimated fair values .", "the changes in the carrying value of goodwill for our segments , integrated agency networks ( 201cian 201d ) and constituency management group ( 201ccmg 201d ) , for the years ended december 31 , 2009 and 2008 are listed below. ." ]

[ "1 for all periods presented we have not recorded a goodwill impairment charge .", "2 for acquisitions completed after january 1 , 2009 , amount includes contingent and deferred payments , which are recorded at fair value on the acquisition date .", "see note 6 for further information .", "see note 1 for further information regarding our annual impairment methodology .", "other intangible assets included in other intangible assets are assets with indefinite lives not subject to amortization and assets with definite lives subject to amortization .", "other intangible assets primarily include customer lists and trade names .", "intangible assets with definitive lives subject to amortization are amortized on a straight-line basis with estimated useful lives generally between 7 and 15 years .", "amortization expense for other intangible assets for the years ended december 31 , 2009 , 2008 and 2007 was $ 19.3 , $ 14.4 and $ 8.5 , respectively .", "the following table provides a summary of other intangible assets , which are included in other assets on our consolidated balance sheets. ." ]

[ [ "", "IAN", "CMG", "Total 1" ], [ "Balance as of December 31, 2007", "$2,789.7", "$441.9", "$3,231.6" ], [ "Current year acquisitions", "99.5", "1.8", "101.3" ], [ "Contingent and deferred payments for prior acquisitions", "28.9", "1.1", "30.0" ], [ "Other (primarily foreign currency translation)", "(128.1)", "(13.9)", "(142.0)" ], [ "Balance as of December 31, 2008", "$2,790.0", "$430.9", "$3,220.9" ], [ "Current year acquisitions²", "5.2", "—", "5.2" ], [ "Contingent and deferred payments for prior acquisitions", "14.2", "—", "14.2" ], [ "Other (primarily foreign currency translation)", "76.2", "4.5", "80.7" ], [ "Balance as of December 31, 2009", "$2,885.6", "$435.4", "$3,321.0" ] ]

[ [ "", "ian", "cmg", "total 1" ], [ "balance as of december 31 2007", "$ 2789.7", "$ 441.9", "$ 3231.6" ], [ "current year acquisitions", "99.5", "1.8", "101.3" ], [ "contingent and deferred payments for prior acquisitions", "28.9", "1.1", "30.0" ], [ "other ( primarily foreign currency translation )", "-128.1 ( 128.1 )", "-13.9 ( 13.9 )", "-142.0 ( 142.0 )" ], [ "balance as of december 31 2008", "$ 2790.0", "$ 430.9", "$ 3220.9" ], [ "current year acquisitions2", "5.2", "2014", "5.2" ], [ "contingent and deferred payments for prior acquisitions", "14.2", "2014", "14.2" ], [ "other ( primarily foreign currency translation )", "76.2", "4.5", "80.7" ], [ "balance as of december 31 2009", "$ 2885.6", "$ 435.4", "$ 3321.0" ] ]

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[ "american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) basis step-up from corporate restructuring represents the tax effects of increasing the basis for tax purposes of certain of the company 2019s assets in conjunction with its spin-off from american radio systems corporation , its former parent company .", "at december 31 , 2006 , the company had net federal and state operating loss carryforwards available to reduce future taxable income of approximately $ 2.1 billion and $ 2.5 billion , respectively .", "if not utilized , the company 2019s net operating loss carryforwards expire as follows ( in thousands ) : ." ]

[ "sfas no .", "109 , 201caccounting for income taxes , 201d requires that companies record a valuation allowance when it is 201cmore likely than not that some portion or all of the deferred tax assets will not be realized . 201d at december 31 , 2006 , the company has provided a valuation allowance of approximately $ 308.2 million , including approximately $ 153.6 million attributable to spectrasite , primarily related to net operating loss and capital loss carryforwards assumed as of the acquisition date .", "the balance of the valuation allowance primarily relates to net state deferred tax assets .", "the company has not provided a valuation allowance for the remaining deferred tax assets , primarily its federal net operating loss carryforwards , as management believes the company will have sufficient time to realize these federal net operating loss carryforwards during the twenty-year tax carryforward period .", "valuation allowances may be reversed if related deferred tax assets are deemed realizable based on changes in facts and circumstances relevant to the assets 2019 recoverability .", "approximately $ 148.3 million of the spectrasite valuation allowances as of december 31 , 2006 will be recorded as a reduction to goodwill if the underlying deferred tax assets are utilized .", "the company intends to recover a portion of its deferred tax asset through its federal income tax refund claims related to the carry back of certain federal net operating losses .", "in june 2003 and october 2003 , the company filed federal income tax refund claims with the irs relating to the carry back of $ 380.0 million of net operating losses generated prior to 2003 , of which the company initially anticipated receiving approximately $ 90.0 million .", "based on preliminary discussions with tax authorities , the company revised its estimate of the net realizable value of the federal income tax refund claims during the year ended december 31 , 2005 , and anticipates receiving a refund of approximately $ 65.0 million , plus interest .", "the company expects settlement of this matter in the first half of 2007 , however , there can be no assurances with respect to the timing of any refund .", "because of the uncertainty associated with the claim , the company has not recognized any amounts related to interest .", "the recoverability of the company 2019s remaining net deferred tax asset has been assessed utilizing stable state ( no growth ) projections based on its current operations .", "the projections show a significant decrease in depreciation in the later years of the carryforward period as a result of a significant portion of its assets being fully depreciated during the first fifteen years of the carryforward period .", "accordingly , the recoverability of the net deferred tax asset is not dependent on material improvements to operations , material asset sales or other non-routine transactions .", "based on its current outlook of future taxable income during the carryforward period , management believes that the net deferred tax asset will be realized .", "the realization of the company 2019s deferred tax assets as of december 31 , 2006 will be dependent upon its ability to generate approximately $ 1.4 billion in taxable income from january 1 , 2007 to december 31 , 2026 .", "if the company is unable to generate sufficient taxable income in the future , or carry back losses , as described above , it ." ]

[ [ "Years ended December 31,", "Federal", "State" ], [ "2007 to 2011", "", "$438,967" ], [ "2012 to 2016", "", "478,502" ], [ "2017 to 2021", "$617,039", "1,001,789" ], [ "2022 to 2026", "1,476,644", "629,354" ], [ "Total", "$2,093,683", "$2,548,612" ] ]

[ [ "years ended december 31,", "federal", "state" ], [ "2007 to 2011", "", "$ 438967" ], [ "2012 to 2016", "", "478502" ], [ "2017 to 2021", "$ 617039", "1001789" ], [ "2022 to 2026", "1476644", "629354" ], [ "total", "$ 2093683", "$ 2548612" ] ]

[]

[ "j.p .", "morgan chase & co .", "/ 2003 annual report 65 the commercial specific loss component of the allowance was $ 917 million at december 31 , 2003 , a decrease of 43% ( 43 % ) from year-end 2002 .", "the decrease was attributable to the improve- ment in the credit quality of the commercial loan portfolio , as well as the reduction in the size of the portfolio .", "the commercial expected loss component of the allowance was $ 454 million at december 31 , 2003 , a decrease of 26% ( 26 % ) from year- end 2002 .", "the decrease reflected an improvement in the average quality of the loan portfolio , as well as the improving credit envi- ronment , which affected inputs to the expected loss model .", "the consumer expected loss component of the allowance was $ 2.3 billion at december 31 , 2003 , a decrease of 4% ( 4 % ) from year- end 2002 .", "although the consumer managed loan portfolio increased by 10% ( 10 % ) , the businesses that drove the increase , home finance and auto finance , have collateralized products with lower expected loss rates .", "the residual component of the allowance was $ 895 million at december 31 , 2003 .", "the residual component , which incorpo- rates management's judgment , addresses uncertainties that are not considered in the formula-based commercial specific and expected components of the allowance for credit losses .", "the $ 121 million increase addressed uncertainties in the eco- nomic environment and concentrations in the commercial loan portfolio that existed during the first half of 2003 .", "in the sec- ond half of the year , as commercial credit quality continued to improve and the commercial allowance declined further , the residual component was reduced as well .", "at december 31 , 2003 , the residual component represented approximately 20% ( 20 % ) of the total allowance for loan losses , within the firm 2019s target range of between 10% ( 10 % ) and 20% ( 20 % ) .", "the firm anticipates that if the current positive trend in economic conditions and credit quality continues , the commercial and residual components will continue to be reduced .", "lending-related commitments to provide for the risk of loss inherent in the credit-extension process , management also computes specific and expected loss components as well as a residual component for commercial lending 2013related commitments .", "this is computed using a methodology similar to that used for the commercial loan port- folio , modified for expected maturities and probabilities of drawdown .", "the allowance decreased by 11% ( 11 % ) to $ 324 million as of december 31 , 2003 , due to improvement in the criticized portion of the firm 2019s lending-related commitments .", "credit costs ." ]

[ "." ]

[ [ "For the year ended December 31", "2003", "2002" ], [ "(in millions)", "Commercial", "Consumer", "Residual", "Total", "Commercial", "Consumer", "Residual", "Total" ], [ "Provision for loan losses", "$(30)", "$1,491", "$118", "$1,579", "$2,371", "$1,589", "$79", "$4,039" ], [ "Provision for lending-related commitments", "(47)", "—", "8", "(39)", "309", "—", "(17)", "292" ], [ "Securitized credit losses", "—", "1,870", "—", "1,870", "—", "1,439", "—", "1,439" ], [ "Total managed credit costs", "$(77)", "$3,361", "$126", "$3,410", "$2,680", "$3,028", "$62", "$5,770" ] ]

[ [ "for the year ended december 31 ( in millions )", "for the year ended december 31 commercial", "for the year ended december 31 consumer", "for the year ended december 31 residual", "for the year ended december 31 total", "for the year ended december 31 commercial", "for the year ended december 31 consumer", "residual", "total" ], [ "provision for loan losses", "$ -30 ( 30 )", "$ 1491", "$ 118", "$ 1579", "$ 2371", "$ 1589", "$ 79", "$ 4039" ], [ "provision for lending-related commitments", "-47 ( 47 )", "2014", "8", "-39 ( 39 )", "309", "2014", "-17 ( 17 )", "292" ], [ "securitized credit losses", "2014", "1870", "2014", "1870", "2014", "1439", "2014", "1439" ], [ "total managed credit costs", "$ -77 ( 77 )", "$ 3361", "$ 126", "$ 3410", "$ 2680", "$ 3028", "$ 62", "$ 5770" ] ]

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[ "table of contents cdw corporation and subsidiaries method or straight-line method , as applicable .", "the company classifies deferred financing costs as a direct deduction from the carrying value of the long-term debt liability on the consolidated balance sheets , except for deferred financing costs associated with revolving credit facilities which are presented as an asset , within other assets on the consolidated balance sheets .", "derivative instruments the company has interest rate cap agreements for the purpose of hedging its exposure to fluctuations in interest rates .", "the interest rate cap agreements are designated as cash flow hedges of interest rate risk and recorded at fair value in other assets on the consolidated balance sheets .", "the gain or loss on the derivative instruments is reported as a component of accumulated other comprehensive loss until reclassified to interest expense in the same period the hedge transaction affects earnings .", "fair value measurements fair value is defined under gaap as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date .", "a fair value hierarchy has been established for valuation inputs to prioritize the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market .", "each fair value measurement is reported in one of the three levels which is determined by the lowest level input that is significant to the fair value measurement in its entirety .", "these levels are : level 1 2013 observable inputs such as quoted prices for identical instruments traded in active markets .", "level 2 2013 inputs are based on quoted prices for similar instruments in active markets , quoted prices for identical or similar instruments in markets that are not active and model-based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities .", "level 3 2013 inputs are generally unobservable and typically reflect management 2019s estimates of assumptions that market participants would use in pricing the asset or liability .", "the fair values are therefore determined using model-based techniques that include option pricing models , discounted cash flow models and similar techniques .", "accumulated other comprehensive loss the components of accumulated other comprehensive loss included in stockholders 2019 equity are as follows: ." ]

[ "revenue recognition the company is a primary distribution channel for a large group of vendors and suppliers , including original equipment manufacturers ( 201coems 201d ) , software publishers , wholesale distributors and cloud providers .", "the company records revenue from sales transactions when title and risk of loss are passed to the customer , there is persuasive evidence of an arrangement for sale , delivery has occurred and/or services have been rendered , the sales price is fixed or determinable , and collectability is reasonably assured .", "the company 2019s shipping terms typically specify f.o.b .", "destination , at which time title and risk of loss have passed to the customer .", "revenues from the sales of hardware products and software licenses are generally recognized on a gross basis with the selling price to the customer recorded as sales and the acquisition cost of the product recorded as cost of sales .", "these items can be delivered to customers in a variety of ways , including ( i ) as physical product shipped from the company 2019s warehouse , ( ii ) via drop-shipment by the vendor or supplier , or ( iii ) via electronic delivery for software licenses .", "at the time of sale , the company records an estimate for sales returns and allowances based on historical experience .", "the company 2019s vendor partners warrant most of the products the company sells .", "the company leverages drop-shipment arrangements with many of its vendors and suppliers to deliver products to its customers without having to physically hold the inventory at its warehouses , thereby increasing efficiency and reducing ." ]

[ [ "", "Years Ended December 31," ], [ "(in millions)", "2017", "2016", "2015" ], [ "Foreign currency translation", "$(96.1)", "$(139.6)", "$(61.1)" ], [ "Unrealized gain from hedge accounting", "0.2", "—", "—" ], [ "Accumulated other comprehensive loss", "$(95.9)", "$(139.6)", "$(61.1)" ] ]

[ [ "( in millions )", "years ended december 31 , 2017", "years ended december 31 , 2016", "years ended december 31 , 2015" ], [ "foreign currency translation", "$ -96.1 ( 96.1 )", "$ -139.6 ( 139.6 )", "$ -61.1 ( 61.1 )" ], [ "unrealized gain from hedge accounting", "0.2", "2014", "2014" ], [ "accumulated other comprehensive loss", "$ -95.9 ( 95.9 )", "$ -139.6 ( 139.6 )", "$ -61.1 ( 61.1 )" ] ]

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[ "stock performance graph comcast the graph below compares the yearly percentage change in the cumulative total shareholder return on comcast 2019s class a common stock during the five years ended december 31 , 2015 with the cumulative total returns on the standard & poor 2019s 500 stock index and with a select peer group consisting of us and other companies engaged in the cable , communications and media industries .", "this peer group consists of us , as well as cablevision systems corporation ( class a ) , dish network corporation ( class a ) , directv inc .", "( included through july 24 , 2015 , the date of acquisition by at&t corp. ) and time warner cable inc .", "( the 201ccable subgroup 201d ) , and time warner inc. , walt disney company , viacom inc .", "( class b ) , twenty-first century fox , inc .", "( class a ) , and cbs corporation ( class b ) ( the 201cmedia subgroup 201d ) .", "the peer group was constructed as a composite peer group in which the cable subgroup is weighted 63% ( 63 % ) and the media subgroup is weighted 37% ( 37 % ) based on the respective revenue of our cable communications and nbcuniversal segments .", "the graph assumes $ 100 was invested on december 31 , 2010 in our class a common stock and in each of the following indices and assumes the reinvestment of dividends .", "comparison of 5 year cumulative total return 12/1412/1312/1212/10 12/15 comcast class a s&p 500 peer group index ." ]

[ "nbcuniversal nbcuniversal is a wholly owned subsidiary of nbcuniversal holdings and there is no market for its equity securities .", "39 comcast 2015 annual report on form 10-k ." ]

[ [ "", "2011", "2012", "2013", "2014", "2015" ], [ "Comcast Class A", "$110", "$177", "$250", "$282", "$279" ], [ "S&P 500 Stock Index", "$102", "$118", "$156", "$177", "$180" ], [ "Peer Group Index", "$110", "$157", "$231", "$267", "$265" ] ]

[ [ "", "2011", "2012", "2013", "2014", "2015" ], [ "comcast class a", "$ 110", "$ 177", "$ 250", "$ 282", "$ 279" ], [ "s&p 500 stock index", "$ 102", "$ 118", "$ 156", "$ 177", "$ 180" ], [ "peer group index", "$ 110", "$ 157", "$ 231", "$ 267", "$ 265" ] ]

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[ "the city council 2019s advisors and entergy new orleans .", "in february 2018 the city council approved the settlement , which deferred cost recovery to the 2018 entergy new orleans rate case , but also stated that an adjustment for 2018-2019 ami costs can be filed in the rate case and that , for all subsequent ami costs , the mechanism to be approved in the 2018 rate case will allow for the timely recovery of such costs .", "sources of capital entergy new orleans 2019s sources to meet its capital requirements include : 2022 internally generated funds ; 2022 cash on hand ; 2022 debt and preferred membership interest issuances ; and 2022 bank financing under new or existing facilities .", "entergy new orleans may refinance , redeem , or otherwise retire debt prior to maturity , to the extent market conditions and interest 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 a credit facility in the amount of $ 25 million scheduled to expire in november 2018 .", "the credit facility allows entergy new orleans to issue letters of credit against $ 10 million of the borrowing capacity of the facility .", "as of december 31 , 2017 , there were no cash borrowings and a $ 0.8 million letter of credit was outstanding under the facility .", "in addition , entergy new orleans is a party to an uncommitted letter of credit facility as a means to post collateral to support its obligations to miso . a0 as of december 31 , 2017 , a $ 1.4 million letter of credit was outstanding under entergy new orleans 2019s letter of credit a0facility .", "see note 4 to the financial statements for additional discussion of the credit facilities .", "entergy new orleans obtained authorization from the ferc through october 2019 for short-term borrowings not to exceed an aggregate amount of $ 150 million at any time outstanding and long-term borrowings and securities issuances .", "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 not only by the ferc , but also by the city council , and the current city council authorization extends through june 2018 .", "entergy new orleans , llc and subsidiaries management 2019s financial discussion and analysis state and local rate regulation the rates that entergy new orleans charges for electricity and natural gas significantly influence its financial position , results of operations , and liquidity .", "entergy new orleans is regulated and the rates charged to its customers are determined in regulatory proceedings .", "a governmental agency , the city council , is primarily responsible for approval of the rates charged to customers .", "retail rates see 201calgiers asset transfer 201d below for discussion of the algiers asset transfer .", "as a provision of the settlement agreement approved by the city council in may 2015 providing for the algiers asset transfer , it was agreed that , with limited exceptions , no action may be taken with respect to entergy new orleans 2019s base rates until rates are implemented ." ]

[ [ "2017", "2016", "2015", "2014" ], [ "(In Thousands)" ], [ "$12,723", "$14,215", "$15,794", "$442" ] ]

[ [ "2017", "2016", "2015", "2014" ], [ "( in thousands )", "( in thousands )", "( in thousands )", "( in thousands )" ], [ "$ 12723", "$ 14215", "$ 15794", "$ 442" ] ]

[ { "arg1": "12723", "arg2": "14215", "op": "add2-1", "res": "26938" }, { "arg1": "#0", "arg2": "15794", "op": "add2-2", "res": "42732" }, { "arg1": "#1", "arg2": "442", "op": "add2-3", "res": "43174" } ]

[ "result of the effects of the costa concordia incident and the continued instability in the european eco- nomic landscape .", "however , we continue to believe in the long term growth potential of this market .", "we estimate that europe was served by 102 ships with approximately 108000 berths at the beginning of 2008 and by 117 ships with approximately 156000 berths at the end of 2012 .", "there are approximately 9 ships with an estimated 25000 berths that are expected to be placed in service in the european cruise market between 2013 and 2017 .", "the following table details the growth in the global , north american and european cruise markets in terms of cruise guests and estimated weighted-average berths over the past five years : global cruise guests ( 1 ) weighted-average supply of berths marketed globally ( 1 ) north american cruise guests ( 2 ) weighted-average supply of berths marketed in north america ( 1 ) european cruise guests weighted-average supply of berths marketed in europe ( 1 ) ." ]

[ "( 1 ) source : our estimates of the number of global cruise guests , and the weighted-average supply of berths marketed globally , in north america and europe are based on a combination of data that we obtain from various publicly available cruise industry trade information sources including seatrade insider and cruise line international association ( 201cclia 201d ) .", "in addition , our estimates incorporate our own statistical analysis utilizing the same publicly available cruise industry data as a base .", "( 2 ) source : cruise line international association based on cruise guests carried for at least two consecutive nights for years 2008 through 2011 .", "year 2012 amounts represent our estimates ( see number 1 above ) .", "( 3 ) source : clia europe , formerly european cruise council , for years 2008 through 2011 .", "year 2012 amounts represent our estimates ( see number 1 above ) .", "other markets in addition to expected industry growth in north america and europe as discussed above , we expect the asia/pacific region to demonstrate an even higher growth rate in the near term , although it will continue to represent a relatively small sector compared to north america and europe .", "competition we compete with a number of cruise lines .", "our princi- pal competitors are carnival corporation & plc , which owns , among others , aida cruises , carnival cruise lines , costa cruises , cunard line , holland america line , iberocruceros , p&o cruises and princess cruises ; disney cruise line ; msc cruises ; norwegian cruise line and oceania cruises .", "cruise lines compete with other vacation alternatives such as land-based resort hotels and sightseeing destinations for consumers 2019 leisure time .", "demand for such activities is influenced by political and general economic conditions .", "com- panies within the vacation market are dependent on consumer discretionary spending .", "operating strategies our principal operating strategies are to : 2022 protect the health , safety and security of our guests and employees and protect the environment in which our vessels and organization operate , 2022 strengthen and support our human capital in order to better serve our global guest base and grow our business , 2022 further strengthen our consumer engagement in order to enhance our revenues , 2022 increase the awareness and market penetration of our brands globally , 2022 focus on cost efficiency , manage our operating expenditures and ensure adequate cash and liquid- ity , with the overall goal of maximizing our return on invested capital and long-term shareholder value , 2022 strategically invest in our fleet through the revit ad alization of existing ships and the transfer of key innovations across each brand , while prudently expanding our fleet with the new state-of-the-art cruise ships recently delivered and on order , 2022 capitalize on the portability and flexibility of our ships by deploying them into those markets and itineraries that provide opportunities to optimize returns , while continuing our focus on existing key markets , 2022 further enhance our technological capabilities to service customer preferences and expectations in an innovative manner , while supporting our strategic focus on profitability , and part i 0494.indd 13 3/27/13 12:52 pm ." ]

[ [ "Year", "Global Cruise Guests⁽¹⁾", "Weighted-Average Supply of Berths Marketed Globally⁽¹⁾", "North American Cruise Guests⁽²⁾", "Weighted-Average Supply of Berths Marketed in North America⁽¹⁾", "European Cruise Guests", "Weighted-Average Supply of Berths Marketed in Europe⁽¹⁾" ], [ "2008", "17,184,000", "347,000", "10,093,000", "219,000", "4,500,000", "120,000" ], [ "2009", "17,340,000", "363,000", "10,198,000", "222,000", "5,000,000", "131,000" ], [ "2010", "18,800,000", "391,000", "10,781,000", "232,000", "5,540,000", "143,000" ], [ "2011", "20,227,000", "412,000", "11,625,000", "245,000", "5,894,000", "149,000" ], [ "2012", "20,823,000", "425,000", "12,044,000", "254,000", "6,040,000", "152,000" ] ]

[ [ "year", "global cruise guests ( 1 )", "weighted-average supply of berths marketed globally ( 1 )", "north american cruise guests ( 2 )", "weighted-average supply of berths marketed in north america ( 1 )", "european cruise guests", "weighted-average supply of berths marketed in europe ( 1 )" ], [ "2008", "17184000", "347000", "10093000", "219000", "4500000", "120000" ], [ "2009", "17340000", "363000", "10198000", "222000", "5000000", "131000" ], [ "2010", "18800000", "391000", "10781000", "232000", "5540000", "143000" ], [ "2011", "20227000", "412000", "11625000", "245000", "5894000", "149000" ], [ "2012", "20823000", "425000", "12044000", "254000", "6040000", "152000" ] ]

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[ "82 | 2017 form 10-k a reconciliation of the beginning and ending amount of gross unrecognized tax benefits for uncertain tax positions , including positions impacting only the timing of tax benefits , follows .", "reconciliation of unrecognized tax benefits:1 years a0ended a0december a031 ." ]

[ "1 foreign currency impacts are included within each line as applicable .", "2 includes cash payment or other reduction of assets to settle liability .", "we classify interest and penalties on income taxes as a component of the provision for income taxes .", "we recognized a net provision for interest and penalties of $ 38 million , $ 34 million and $ 20 million during the years ended december 31 , 2017 , 2016 and 2015 , respectively .", "the total amount of interest and penalties accrued was $ 157 million and $ 120 million as of december a031 , 2017 and 2016 , respectively .", "on january 31 , 2018 , we received a revenue agent 2019s report from the irs indicating the end of the field examination of our u.s .", "income tax returns for 2010 to 2012 .", "in the audits of 2007 to 2012 including the impact of a loss carryback to 2005 , the irs has proposed to tax in the united states profits earned from certain parts transactions by csarl , based on the irs examination team 2019s application of the 201csubstance-over-form 201d or 201cassignment-of-income 201d judicial doctrines .", "we are vigorously contesting the proposed increases to tax and penalties for these years of approximately $ 2.3 billion .", "we believe that the relevant transactions complied with applicable tax laws and did not violate judicial doctrines .", "we have filed u.s .", "income tax returns on this same basis for years after 2012 .", "based on the information currently available , we do not anticipate a significant increase or decrease to our unrecognized tax benefits for this matter within the next 12 months .", "we currently believe the ultimate disposition of this matter will not have a material adverse effect on our consolidated financial position , liquidity or results of operations .", "with the exception of a loss carryback to 2005 , tax years prior to 2007 are generally no longer subject to u.s .", "tax assessment .", "in our major non-u.s .", "jurisdictions including australia , brazil , china , germany , japan , mexico , switzerland , singapore and the u.k. , tax years are typically subject to examination for three to ten years .", "due to the uncertainty related to the timing and potential outcome of audits , we cannot estimate the range of reasonably possible change in unrecognized tax benefits in the next 12 months. ." ]

[ [ "", "Years ended December 31," ], [ "(Millions of dollars)", "2017", "2016" ], [ "Balance at January 1,", "$1,032", "$968" ], [ "Additions for tax positions related to current year", "270", "73" ], [ "Additions for tax positions related to prior years", "20", "55" ], [ "Reductions for tax positions related to prior years", "(27)", "(36)" ], [ "Reductions for settlements²", "(9)", "(24)" ], [ "Reductions for expiration of statute of limitations", "—", "(4)" ], [ "Balance at December 31,", "$1,286", "$1,032" ], [ "Amount that, if recognized, would impact the effective tax rate", "$1,209", "$963" ] ]

[ [ "( millions of dollars )", "years ended december 31 , 2017", "years ended december 31 , 2016" ], [ "balance at january 1,", "$ 1032", "$ 968" ], [ "additions for tax positions related to current year", "270", "73" ], [ "additions for tax positions related to prior years", "20", "55" ], [ "reductions for tax positions related to prior years", "-27 ( 27 )", "-36 ( 36 )" ], [ "reductions for settlements2", "-9 ( 9 )", "-24 ( 24 )" ], [ "reductions for expiration of statute of limitations", "2014", "-4 ( 4 )" ], [ "balance at december 31,", "$ 1286", "$ 1032" ], [ "amount that if recognized would impact the effective tax rate", "$ 1209", "$ 963" ] ]

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[ "advance auto parts , inc .", "and subsidiaries notes to the consolidated financial statements december 28 , 2013 , december 29 , 2012 and december 31 , 2011 ( in thousands , except per share data ) in july 2012 , the fasb issued asu no .", "2012-02 201cintangible-goodwill and other 2013 testing indefinite-lived intangible assets for impairment . 201d asu 2012-02 modifies the requirement to test intangible assets that are not subject to amortization based on events or changes in circumstances that might indicate that the asset is impaired now requiring the test only if it is more likely than not that the asset is impaired .", "furthermore , asu 2012-02 provides entities the option of performing a qualitative assessment to determine if it is more likely than not that the fair value of an intangible asset is less than the carrying amount as a basis for determining whether it is necessary to perform a quantitative impairment test .", "asu 2012-02 is effective for fiscal years beginning after september 15 , 2012 and early adoption is permitted .", "the adoption of asu 2012-02 had no impact on the company 2019s consolidated financial condition , results of operations or cash flows .", "3 .", "inventories , net : merchandise inventory the company used the lifo method of accounting for approximately 95% ( 95 % ) of inventories at both december 28 , 2013 and december 29 , 2012 .", "under lifo , the company 2019s cost of sales reflects the costs of the most recently purchased inventories , while the inventory carrying balance represents the costs for inventories purchased in fiscal 2013 and prior years .", "the company recorded a reduction to cost of sales of $ 5572 and $ 24087 in fiscal 2013 and fiscal 2012 , respectively .", "the company 2019s overall costs to acquire inventory for the same or similar products have generally decreased historically as the company has been able to leverage its continued growth , execution of merchandise strategies and realization of supply chain efficiencies .", "in fiscal 2011 , the company recorded an increase to cost of sales of $ 24708 due to an increase in supply chain costs and inflationary pressures affecting certain product categories .", "product cores the remaining inventories are comprised of product cores , the non-consumable portion of certain parts and batteries , which are valued under the first-in , first-out ( 201cfifo 201d ) method .", "product cores are included as part of the company 2019s merchandise costs and are either passed on to the customer or returned to the vendor .", "because product cores are not subject to frequent cost changes like the company 2019s other merchandise inventory , there is no material difference when applying either the lifo or fifo valuation method .", "inventory overhead costs purchasing and warehousing costs included in inventory as of december 28 , 2013 and december 29 , 2012 , were $ 161519 and $ 134258 , respectively .", "inventory balance and inventory reserves inventory balances at the end of fiscal 2013 and 2012 were as follows : december 28 , december 29 ." ]

[ "inventory quantities are tracked through a perpetual inventory system .", "the company completes physical inventories and other targeted inventory counts in its store locations to ensure the accuracy of the perpetual inventory quantities of both merchandise and core inventory in these locations .", "in its distribution centers and pdq aes , the company uses a cycle counting program to ensure the accuracy of the perpetual inventory quantities of both merchandise and product core inventory .", "reserves for estimated shrink are established based on the results of physical inventories conducted by the company with the assistance of an independent third party in substantially all of the company 2019s stores over the course of the year , other targeted inventory counts in its stores , results from recent cycle counts in its distribution facilities and historical and current loss trends. ." ]

[ [ "", "December 28,2013", "December 29,2012" ], [ "Inventories at FIFO, net", "$2,424,795", "$2,182,419" ], [ "Adjustments to state inventories at LIFO", "131,762", "126,190" ], [ "Inventories at LIFO, net", "$2,556,557", "$2,308,609" ] ]

[ [ "", "december 282013", "december 292012" ], [ "inventories at fifo net", "$ 2424795", "$ 2182419" ], [ "adjustments to state inventories at lifo", "131762", "126190" ], [ "inventories at lifo net", "$ 2556557", "$ 2308609" ] ]

[]

[ "underlying physical transaction occurs .", "we have not qualified commodity derivative instruments used in our osm or rm&t segments for hedge accounting .", "as a result , we recognize in net income all changes in the fair value of derivative instruments used in those operations .", "open commodity derivative positions as of december 31 , 2008 and sensitivity analysis at december 31 , 2008 , our e&p segment held open derivative contracts to mitigate the price risk on natural gas held in storage or purchased to be marketed with our own natural gas production in amounts that were in line with normal levels of activity .", "at december 31 , 2008 , we had no significant open derivative contracts related to our future sales of liquid hydrocarbons and natural gas and therefore remained substantially exposed to market prices of these commodities .", "the osm segment holds crude oil options which were purchased by western for a three year period ( january 2007 to december 2009 ) .", "the premiums for the purchased put options had been partially offset through the sale of call options for the same three-year period , resulting in a net premium liability .", "payment of the net premium liability is deferred until the settlement of the option contracts .", "as of december 31 , 2008 , the following put and call options were outstanding: ." ]

[ "in the first quarter of 2009 , we sold derivative instruments at an average exercise price of $ 50.50 which effectively offset the open put options for the remainder of 2009 .", "at december 31 , 2008 , the number of open derivative contracts held by our rm&t segment was lower than in previous periods .", "starting in the second quarter of 2008 , we decreased our use of derivatives to mitigate crude oil price risk between the time that domestic spot crude oil purchases are priced and when they are actually refined into salable petroleum products .", "instead , we are addressing this price risk through other means , including changes in contractual terms and crude oil acquisition practices .", "additionally , in previous periods , certain contracts in our rm&t segment for the purchase or sale of commodities were not qualified or designated as normal purchase or normal sales under generally accepted accounting principles and therefore were accounted for as derivative instruments .", "during the second quarter of 2008 , as we decreased our use of derivatives , we began to designate such contracts for the normal purchase and normal sale exclusion. ." ]

[ [ "Option Expiration Date", "2009" ], [ "Option Contract Volumes<i>(Barrels per day)</i>:", "" ], [ "Put options purchased", "20,000" ], [ "Call options sold", "15,000" ], [ "Average Exercise Price<i>(Dollars per barrel</i>):", "" ], [ "Put options", "$50.50" ], [ "Call options", "$90.50" ] ]

[ [ "option expiration date", "2009" ], [ "option contract volumes ( barrels per day ) :", "" ], [ "put options purchased", "20000" ], [ "call options sold", "15000" ], [ "average exercise price ( dollars per barrel ) :", "" ], [ "put options", "$ 50.50" ], [ "call options", "$ 90.50" ] ]

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[ "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 ( rsus ) , performance stock units ( psus ) and exercise of outstanding stock options based on the treasury stock method .", "there were no significant anti-dilutive equity awards for the years ended december 31 , 2018 , 2017 and 2016 .", "note 3 2013 acquisition and divestitures consolidation of awe management limited on august 24 , 2016 , we increased our ownership interest in the awe joint venture , which operates the united kingdom 2019s nuclear deterrent program , from 33% ( 33 % ) to 51% ( 51 % ) .", "consequently , we began consolidating awe and our operating results include 100% ( 100 % ) of awe 2019s sales and 51% ( 51 % ) of its operating profit .", "prior to increasing our ownership interest , we accounted for our investment in awe using the equity method of accounting .", "under the equity method , we recognized only 33% ( 33 % ) of awe 2019s earnings or losses and no sales .", "accordingly , prior to august 24 , 2016 , the date we obtained control , we recorded 33% ( 33 % ) of awe 2019s net earnings in our operating results and subsequent to august 24 , 2016 , we recognized 100% ( 100 % ) of awe 2019s sales and 51% ( 51 % ) of its operating profit .", "we accounted for this transaction as a 201cstep acquisition 201d ( as defined by u.s .", "gaap ) , which requires us to consolidate and record the assets and liabilities of awe at fair value .", "accordingly , we recorded intangible assets of $ 243 million related to customer relationships , $ 32 million of net liabilities , and noncontrolling interests of $ 107 million .", "the intangible assets are being amortized over a period of eight years in accordance with the underlying pattern of economic benefit reflected by the future net cash flows .", "in 2016 , we recognized a non-cash net gain of $ 104 million associated with obtaining a controlling interest in awe , which consisted of a $ 127 million pretax gain recognized in the operating results of our space business segment and $ 23 million of tax-related items at our corporate office .", "the gain represented the fair value of our 51% ( 51 % ) interest in awe , less the carrying value of our previously held investment in awe and deferred taxes .", "the gain was recorded in other income , net on our consolidated statements of earnings .", "the fair value of awe ( including the intangible assets ) , our controlling interest , and the noncontrolling interests were determined using the income approach .", "divestiture of the information systems & global solutions business on august 16 , 2016 , we divested our former is&gs business , which merged with leidos , in a reverse morris trust transaction ( the 201ctransaction 201d ) .", "the transaction was completed in a multi-step process pursuant to which we initially contributed the is&gs business to abacus innovations corporation ( abacus ) , a wholly owned subsidiary of lockheed martin created to facilitate the transaction , and the common stock of abacus was distributed to participating lockheed martin stockholders through an exchange offer .", "under the terms of the exchange offer , lockheed martin stockholders had the option to exchange shares of lockheed martin common stock for shares of abacus common stock .", "at the conclusion of the exchange offer , all shares of abacus common stock were exchanged for 9369694 shares of lockheed martin common stock held by lockheed martin stockholders that elected to participate in the exchange .", "the shares of lockheed martin common stock that were exchanged and accepted were retired , reducing the number of shares of our common stock outstanding by approximately 3% ( 3 % ) .", "following the exchange offer , abacus merged with a subsidiary of leidos , with abacus continuing as the surviving corporation and a wholly-owned subsidiary of leidos .", "as part of the merger , each share of abacus common stock was automatically converted into one share of leidos common stock .", "we did not receive any shares of leidos common stock as part of the transaction and do not hold any shares of leidos or abacus common stock following the transaction .", "based on an opinion of outside tax counsel , subject to customary qualifications and based on factual representations , the exchange offer and merger will qualify as tax-free transactions to lockheed martin and its stockholders , except to the extent that cash was paid to lockheed martin stockholders in lieu of fractional shares .", "in connection with the transaction , abacus borrowed an aggregate principal amount of approximately $ 1.84 billion under term loan facilities with third party financial institutions , the proceeds of which were used to make a one-time special cash payment of $ 1.80 billion to lockheed martin and to pay associated borrowing fees and expenses .", "the entire special cash payment was used to repay debt , pay dividends and repurchase stock during the third and fourth quarters of 2016 .", "the obligations under the abacus term loan facilities were guaranteed by leidos as part of the transaction. ." ]

[ [ "", "2018", "2017", "2016" ], [ "Weighted average common shares outstanding for basic computations", "284.5", "287.8", "299.3" ], [ "Weighted average dilutive effect of equity awards", "2.3", "2.8", "3.8" ], [ "Weighted average common shares outstanding for diluted computations", "286.8", "290.6", "303.1" ] ]

[ [ "", "2018", "2017", "2016" ], [ "weighted average common shares outstanding for basic computations", "284.5", "287.8", "299.3" ], [ "weighted average dilutive effect of equity awards", "2.3", "2.8", "3.8" ], [ "weighted average common shares outstanding for diluted computations", "286.8", "290.6", "303.1" ] ]

[ { "arg1": "284.5", "arg2": "287.8", "op": "minus1-1", "res": "-3.3" }, { "arg1": "#0", "arg2": "287.8", "op": "divide1-2", "res": "-1.1%" } ]

[ "american tower corporation and subsidiaries notes to consolidated financial statements assessments in each of the tax jurisdictions resulting from these examinations .", "the company believes that adequate provisions have been made for income taxes for all periods through december 31 , 2010 .", "12 .", "stock-based compensation the company recognized stock-based compensation of $ 52.6 million , $ 60.7 million and $ 54.8 million for the years ended december 31 , 2010 , 2009 and 2008 , respectively .", "stock-based compensation for the year ended december 31 , 2009 included $ 6.9 million related to the modification of the vesting and exercise terms for certain employee 2019s equity awards .", "the company did not capitalize any stock-based compensation during the years ended december 31 , 2010 and 2009 .", "summary of stock-based compensation plans 2014the company maintains equity incentive plans that provide for the grant of stock-based awards to its directors , officers and employees .", "under the 2007 equity incentive plan ( 201c2007 plan 201d ) , which provides for the grant of non-qualified and incentive stock options , as well as restricted stock units , restricted stock and other stock-based awards , exercise prices in the case of non-qualified and incentive stock options are not less than the fair market value of the underlying common stock on the date of grant .", "equity awards typically vest ratably over various periods , generally four years , and generally expire ten years from the date of grant .", "stock options 2014as of december 31 , 2010 , the company had the ability to grant stock-based awards with respect to an aggregate of 22.0 million shares of common stock under the 2007 plan .", "the fair value of each option grant is estimated on the date of grant using the black-scholes option pricing model based on the assumptions noted in the table below .", "the risk-free treasury rate is based on the u.s .", "treasury yield in effect at the accounting measurement date .", "the expected life ( estimated period of time outstanding ) was estimated using the vesting term and historical exercise behavior of company employees .", "the expected volatility was based on historical volatility for a period equal to the expected life of the stock options .", "key assumptions used to apply this pricing model are as follows: ." ]

[ "the weighted average grant date fair value per share during the years ended december 31 , 2010 , 2009 and 2008 was $ 15.03 , $ 8.90 and $ 9.55 , respectively .", "the intrinsic value of stock options exercised during the years ended december 31 , 2010 , 2009 and 2008 was $ 62.7 million , $ 40.1 million and $ 99.1 million , respectively .", "as of december 31 , 2010 , total unrecognized compensation expense related to unvested stock options was approximately $ 27.7 million and is expected to be recognized over a weighted average period of approximately two years .", "the amount of cash received from the exercise of stock options was approximately $ 129.1 million during the year ended december 31 , 2010 .", "during the year ended december 31 , 2010 , the company realized approximately $ 0.3 million of state tax benefits from the exercise of stock options. ." ]

[ [ "", "2010", "2009", "2008" ], [ "Range of risk-free interest rate", "1.41% – 2.39%", "1.41% – 2.04%", "1.44% – 3.05%" ], [ "Weighted average risk-free interest rate", "2.35%", "1.71%", "1.89%" ], [ "Expected life of option grants", "4.60 years", "4.00 years", "4.00 years" ], [ "Range of expected volatility of underlying stock price", "37.11% – 37.48%", "36.00% – 36.63%", "28.51% – 35.30%" ], [ "Weighted average expected volatility of underlying stock price", "37.14%", "36.23%", "29.10%" ], [ "Expected annual dividends", "N/A", "N/A", "N/A" ] ]

[ [ "", "2010", "2009", "2008" ], [ "range of risk-free interest rate", "1.41% ( 1.41 % ) 2013 2.39% ( 2.39 % )", "1.41% ( 1.41 % ) 2013 2.04% ( 2.04 % )", "1.44% ( 1.44 % ) 2013 3.05% ( 3.05 % )" ], [ "weighted average risk-free interest rate", "2.35% ( 2.35 % )", "1.71% ( 1.71 % )", "1.89% ( 1.89 % )" ], [ "expected life of option grants", "4.60 years", "4.00 years", "4.00 years" ], [ "range of expected volatility of underlying stock price", "37.11% ( 37.11 % ) 2013 37.48% ( 37.48 % )", "36.00% ( 36.00 % ) 2013 36.63% ( 36.63 % )", "28.51% ( 28.51 % ) 2013 35.30% ( 35.30 % )" ], [ "weighted average expected volatility of underlying stock price", "37.14% ( 37.14 % )", "36.23% ( 36.23 % )", "29.10% ( 29.10 % )" ], [ "expected annual dividends", "n/a", "n/a", "n/a" ] ]

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[ "performance graph the performance graph below shows the five-year cumulative total stockholder return on applied common stock during the period from october 31 , 2010 through october 25 , 2015 .", "this is compared with the cumulative total return of the standard & poor 2019s 500 stock index and the rdg semiconductor composite index over the same period .", "the comparison assumes $ 100 was invested on october 31 , 2010 in applied common stock and in each of the foregoing indices and assumes reinvestment of dividends , if any .", "dollar amounts in the graph are rounded to the nearest whole dollar .", "the performance shown in the graph represents past performance and should not be considered an indication of future performance .", "comparison of 5 year cumulative total return* among applied materials , inc. , the s&p 500 index and the rdg semiconductor composite index *assumes $ 100 invested on 10/31/10 in stock or index , including reinvestment of dividends .", "indexes calculated on month-end basis .", "201cs&p 201d is a registered trademark of standard & poor 2019s financial services llc , a subsidiary of the mcgraw-hill companies , inc. ." ]

[ "dividends during each of fiscal 2015 and 2014 , applied's board of directors declared four quarterly cash dividends of $ 0.10 per share .", "during fiscal 2013 , applied 2019s board of directors declared three quarterly cash dividends of $ 0.10 per share and one quarterly cash dividend of $ 0.09 per share .", "dividends paid during fiscal 2015 , 2014 and 2013 amounted to $ 487 million , $ 485 million and $ 456 million , respectively .", "applied currently anticipates that cash dividends will continue to be paid on a quarterly basis , although the declaration of any future cash dividend is at the discretion of the board of directors and will depend on applied 2019s financial condition , results of operations , capital requirements , business conditions and other factors , as well as a determination by the board of directors that cash dividends are in the best interests of applied 2019s stockholders .", "104 136 10/31/10 10/30/11 10/28/12 10/27/13 10/26/14 10/25/15 applied materials , inc .", "s&p 500 rdg semiconductor composite ." ]

[ [ "", "10/31/2010", "10/30/2011", "10/28/2012", "10/27/2013", "10/26/2014", "10/25/2015" ], [ "Applied Materials", "100.00", "104.54", "90.88", "155.43", "188.13", "150.26" ], [ "S&P 500 Index", "100.00", "108.09", "124.52", "158.36", "185.71", "195.37" ], [ "RDG Semiconductor Composite Index", "100.00", "110.04", "104.07", "136.15", "172.41", "170.40" ] ]

[ [ "", "10/31/2010", "10/30/2011", "10/28/2012", "10/27/2013", "10/26/2014", "10/25/2015" ], [ "applied materials", "100.00", "104.54", "90.88", "155.43", "188.13", "150.26" ], [ "s&p 500 index", "100.00", "108.09", "124.52", "158.36", "185.71", "195.37" ], [ "rdg semiconductor composite index", "100.00", "110.04", "104.07", "136.15", "172.41", "170.40" ] ]

[]

[ "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 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 commingled equity funds 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 .", "fixed income investments categorized as level 2 are valued by the trustee using pricing models that use verifiable observable market data ( e.g. , interest rates and yield curves observable at commonly quoted intervals and credit spreads ) , bids provided by brokers or dealers or quoted prices of securities with similar characteristics .", "fixed income investments are categorized as level 3 when valuations using observable inputs are unavailable .", "the trustee typically obtains pricing based on indicative quotes or bid evaluations from vendors , brokers or the investment manager .", "in addition , certain other fixed income investments categorized as level 3 are valued using a discounted cash flow approach .", "significant inputs include projected annuity payments and the discount rate applied to those payments .", "certain commingled equity funds , consisting of equity mutual funds , are valued using the nav .", "the nav valuations are based on the underlying investments and typically redeemable within 90 days .", "private equity funds consist of partnership and co-investment funds .", "the nav is based on valuation models of the underlying securities , which includes unobservable inputs that cannot be corroborated using verifiable observable market data .", "these funds typically have redemption periods between eight and 12 years .", "real estate funds consist of partnerships , most of which are closed-end funds , for which the nav is based on valuation models and periodic appraisals .", "these funds typically have redemption periods between eight and 10 years .", "hedge funds consist of direct hedge funds for which the nav is generally based on the valuation of the underlying investments .", "redemptions in hedge funds are based on the specific terms of each fund , and generally range from a minimum of one month to several months .", "contributions and expected benefit payments the funding of our qualified defined benefit pension plans is determined in accordance with erisa , as amended by the ppa , and in a manner consistent with cas and internal revenue code rules .", "we made contributions of $ 5.0 billion to our qualified defined benefit pension plans in 2018 , including required and discretionary contributions .", "as a result of these contributions , we do not expect to make contributions to our qualified defined benefit pension plans in 2019 .", "the following table presents estimated future benefit payments , which reflect expected future employee service , as of december 31 , 2018 ( 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 $ 658 million in 2018 , $ 613 million in 2017 and $ 617 million in 2016 , the majority of which were funded using our common stock .", "our defined contribution plans held approximately 33.3 million and 35.5 million shares of our common stock as of december 31 , 2018 and 2017. ." ]

[ [ "", "2019", "2020", "2021", "2022", "2023", "2024 – 2028" ], [ "Qualified defined benefit pension plans", "$2,350", "$2,390", "$2,470", "$2,550", "$2,610", "$13,670" ], [ "Retiree medical and life insurance plans", "170", "180", "180", "180", "170", "810" ] ]

[ [ "", "2019", "2020", "2021", "2022", "2023", "2024 2013 2028" ], [ "qualified defined benefit pension plans", "$ 2350", "$ 2390", "$ 2470", "$ 2550", "$ 2610", "$ 13670" ], [ "retiree medical and life insurance plans", "170", "180", "180", "180", "170", "810" ] ]

[ { "arg1": "658", "arg2": "613", "op": "minus1-1", "res": "45" }, { "arg1": "#0", "arg2": "613", "op": "divide1-2", "res": "7.34%" } ]

[ "stock performance graph this performance graph shall not be deemed 201cfiled 201d for purposes of section 18 of the exchange act , or incorporated by reference into any filing of quintiles ims holdings , inc .", "under the exchange act or under the securities act , except as shall be expressly set forth by specific reference in such filing .", "the following graph shows a comparison from may 9 , 2013 ( the date our common stock commenced trading on the nyse ) through december 31 , 2016 of the cumulative total return for our common stock , the standard & poor 2019s 500 stock index ( 201cs&p 500 201d ) and a select peer group .", "the peer group consists of cerner corporation , charles river laboratories , inc. , dun & bradstreet corporation , equifax inc. , icon plc , ihs markit ltd. , inc research holdings , laboratory corporation of america holdings , nielsen n.v. , parexel international corporation , inc. , pra health sciences , inc. , thomson reuters corporation and verisk analytics , inc .", "the companies in our peer group are publicly traded information services , information technology or contract research companies , and thus share similar business model characteristics to quintilesims , or provide services to similar customers as quintilesims .", "many of these companies are also used by our compensation committee for purposes of compensation benchmarking .", "the graph assumes that $ 100 was invested in quintilesims , the s&p 500 and the peer group as of the close of market on may 9 , 2013 , assumes the reinvestments of dividends , if any .", "the s&p 500 and our peer group are included for comparative purposes only .", "they do not necessarily reflect management 2019s opinion that the s&p 500 and our peer group are an appropriate measure of the relative performance of the stock involved , and they are not intended to forecast or be indicative of possible future performance of our common stock .", "s&p 500 quintilesims peer group ." ]

[ "item 6 .", "selected financial data we have derived the following consolidated statements of income data for 2016 , 2015 and 2014 and consolidated balance sheet data as of december 31 , 2016 and 2015 from our audited consolidated financial ." ]

[ [ "", "5/9/2013", "12/31/2013", "12/31/2014", "12/31/2015", "12/31/2016" ], [ "Q", "$100", "$110", "$140", "$163", "$181" ], [ "Peer Group", "$100", "$116", "$143", "$151", "$143" ], [ "S&P 500", "$100", "$114", "$127", "$126", "$138" ] ]

[ [ "", "5/9/2013", "12/31/2013", "12/31/2014", "12/31/2015", "12/31/2016" ], [ "q", "$ 100", "$ 110", "$ 140", "$ 163", "$ 181" ], [ "peer group", "$ 100", "$ 116", "$ 143", "$ 151", "$ 143" ], [ "s&p 500", "$ 100", "$ 114", "$ 127", "$ 126", "$ 138" ] ]

[ { "arg1": "127", "arg2": "100", "op": "minus2-1", "res": "27" }, { "arg1": "#0", "arg2": "100", "op": "divide2-2", "res": "27%" } ]

[ "on december 19 , 2011 , we redeemed the remaining $ 175 million of our 6.5% ( 6.5 % ) notes due april 15 , 2012 , and all $ 300 million of our outstanding 6.125% ( 6.125 % ) notes due january 15 , 2012 .", "the redemptions resulted in an early extinguishment charge of $ 5 million in the fourth quarter of 2011 .", "receivables securitization facility 2013 as of december 31 , 2013 and 2012 , we recorded $ 0 and $ 100 million , respectively , 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 , including our headquarters building ) 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 vies .", "the future minimum lease payments associated with the vie leases totaled $ 3.3 billion as of december 31 , 2013 .", "16 .", "leases we lease certain locomotives , freight cars , and other property .", "the consolidated statements of financial position as of december 31 , 2013 and 2012 included $ 2486 million , net of $ 1092 million of accumulated depreciation , and $ 2467 million , net of $ 966 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 , 2013 , were as follows : millions operating leases capital leases ." ]

[ "approximately 94% ( 94 % ) of capital lease payments relate to locomotives .", "rent expense for operating leases with terms exceeding one month was $ 618 million in 2013 , $ 631 million in 2012 , and $ 637 million in 2011 .", "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>OperatingLeases</i>", "<i>CapitalLeases</i>" ], [ "2014", "$512", "$272" ], [ "2015", "477", "260" ], [ "2016", "438", "239" ], [ "2017", "400", "247" ], [ "2018", "332", "225" ], [ "Later years", "1,907", "957" ], [ "Total minimum leasepayments", "$4,066", "$2,200" ], [ "Amount representing interest", "N/A", "(498)" ], [ "Present value of minimum leasepayments", "N/A", "$1,702" ] ]

[ [ "millions", "operatingleases", "capitalleases" ], [ "2014", "$ 512", "$ 272" ], [ "2015", "477", "260" ], [ "2016", "438", "239" ], [ "2017", "400", "247" ], [ "2018", "332", "225" ], [ "later years", "1907", "957" ], [ "total minimum leasepayments", "$ 4066", "$ 2200" ], [ "amount representing interest", "n/a", "-498 ( 498 )" ], [ "present value of minimum leasepayments", "n/a", "$ 1702" ] ]

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[ "table of contents valero energy corporation and subsidiaries notes to consolidated financial statements ( continued ) commodity price risk we are exposed to market risks related to the volatility in the price of crude oil , refined products ( primarily gasoline and distillate ) , grain ( primarily corn ) , and natural gas used in our operations .", "to reduce the impact of price volatility on our results of operations and cash flows , we use commodity derivative instruments , including futures , swaps , and options .", "we use the futures markets for the available liquidity , which provides greater flexibility in transacting our hedging and trading operations .", "we use swaps primarily to manage our price exposure .", "our positions in commodity derivative instruments are monitored and managed on a daily basis by a risk control group to ensure compliance with our stated risk management policy that has been approved by our board of directors .", "for risk management purposes , we use fair value hedges , cash flow hedges , and economic hedges .", "in addition to the use of derivative instruments to manage commodity price risk , we also enter into certain commodity derivative instruments for trading purposes .", "our objective for entering into each type of hedge or trading derivative is described below .", "fair value hedges fair value hedges are used to hedge price volatility in certain refining inventories and firm commitments to purchase inventories .", "the level of activity for our fair value hedges is based on the level of our operating inventories , and generally represents the amount by which our inventories differ from our previous year-end lifo inventory levels .", "as of december 31 , 2012 , we had the following outstanding commodity derivative instruments that were entered into to hedge crude oil and refined product inventories and commodity derivative instruments related to the physical purchase of crude oil and refined products at a fixed price .", "the information presents the notional volume of outstanding contracts by type of instrument and year of maturity ( volumes in thousands of barrels ) .", "notional contract volumes by year of maturity derivative instrument 2013 ." ]

[ "." ]

[ [ "Derivative Instrument", "NotionalContractVolumes byYear ofMaturity 2013" ], [ "Crude oil and refined products:", "" ], [ "Futures – long", "1,052" ], [ "Futures – short", "4,857" ], [ "Physical contracts - long", "3,805" ] ]

[ [ "derivative instrument", "notionalcontractvolumes byyear ofmaturity 2013" ], [ "crude oil and refined products:", "" ], [ "futures 2013 long", "1052" ], [ "futures 2013 short", "4857" ], [ "physical contracts - long", "3805" ] ]

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[ "management 2019s discussion and analysis of financial condition and results of operations ( continued ) funding deposits : we provide products and services including custody , accounting , administration , daily pricing , foreign exchange services , cash management , financial asset management , securities finance and investment advisory services .", "as a provider of these products and services , we generate client deposits , which have generally provided a stable , low-cost source of funds .", "as a global custodian , clients place deposits with state street entities in various currencies .", "we invest these client deposits in a combination of investment securities and short- duration financial instruments whose mix is determined by the characteristics of the deposits .", "for the past several years , we have experienced higher client deposit inflows toward the end of the quarter or the end of the year .", "as a result , we believe average client deposit balances are more reflective of ongoing funding than period-end balances .", "table 33 : client deposits average balance december 31 , year ended december 31 ." ]

[ "client deposits ( 1 ) $ 195276 $ 182268 $ 167470 $ 143043 ( 1 ) balance as of december 31 , 2014 excluded term wholesale certificates of deposit , or cds , of $ 13.76 billion ; average balances for the year ended december 31 , 2014 and 2013 excluded average cds of $ 6.87 billion and $ 2.50 billion , respectively .", "short-term funding : our corporate commercial paper program , under which we can issue up to $ 3.0 billion of commercial paper with original maturities of up to 270 days from the date of issuance , had $ 2.48 billion and $ 1.82 billion of commercial paper outstanding as of december 31 , 2014 and 2013 , respectively .", "our on-balance sheet liquid assets are also an integral component of our liquidity management strategy .", "these assets provide liquidity through maturities of the assets , but more importantly , they provide us with the ability to raise funds by pledging the securities as collateral for borrowings or through outright sales .", "in addition , our access to the global capital markets gives us the ability to source incremental funding at reasonable rates of interest from wholesale investors .", "as discussed earlier under 201casset liquidity , 201d state street bank's membership in the fhlb allows for advances of liquidity with varying terms against high-quality collateral .", "short-term secured funding also comes in the form of securities lent or sold under agreements to repurchase .", "these transactions are short-term in nature , generally overnight , and are collateralized by high-quality investment securities .", "these balances were $ 8.93 billion and $ 7.95 billion as of december 31 , 2014 and 2013 , respectively .", "state street bank currently maintains a line of credit with a financial institution of cad $ 800 million , or approximately $ 690 million as of december 31 , 2014 , to support its canadian securities processing operations .", "the line of credit has no stated termination date and is cancelable by either party with prior notice .", "as of december 31 , 2014 , there was no balance outstanding on this line of credit .", "long-term funding : as of december 31 , 2014 , state street bank had board authority to issue unsecured senior debt securities from time to time , provided that the aggregate principal amount of such unsecured senior debt outstanding at any one time does not exceed $ 5 billion .", "as of december 31 , 2014 , $ 4.1 billion was available for issuance pursuant to this authority .", "as of december 31 , 2014 , state street bank also had board authority to issue an additional $ 500 million of subordinated debt .", "we maintain an effective universal shelf registration that allows for the public offering and sale of debt securities , capital securities , common stock , depositary shares and preferred stock , and warrants to purchase such securities , including any shares into which the preferred stock and depositary shares may be convertible , or any combination thereof .", "we have issued in the past , and we may issue in the future , securities pursuant to our shelf registration .", "the issuance of debt or equity securities will depend on future market conditions , funding needs and other factors .", "agency credit ratings our ability to maintain consistent access to liquidity is fostered by the maintenance of high investment-grade ratings as measured by the major independent credit rating agencies .", "factors essential to maintaining high credit ratings include diverse and stable core earnings ; relative market position ; strong risk management ; strong capital ratios ; diverse liquidity sources , including the global capital markets and client deposits ; strong liquidity monitoring procedures ; and preparedness for current or future regulatory developments .", "high ratings limit borrowing costs and enhance our liquidity by providing assurance for unsecured funding and depositors , increasing the potential market for our debt and improving our ability to offer products , serve markets , and engage in transactions in which clients value high credit ratings .", "a downgrade or reduction of our credit ratings could have a material adverse effect on our liquidity by restricting our ability to access the capital ." ]

[ [ "", "December 31,", "Average Balance Year Ended December 31," ], [ "(In millions)", "2014", "2013", "2014", "2013" ], [ "Client deposits⁽¹⁾", "$195,276", "$182,268", "$167,470", "$143,043" ] ]

[ [ "( in millions )", "december 31 , 2014", "december 31 , 2013", "december 31 , 2014", "2013" ], [ "client deposits ( 1 )", "$ 195276", "$ 182268", "$ 167470", "$ 143043" ] ]

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[ "notes to consolidated financial statements 2014 ( continued ) ( amounts in millions , except per share amounts ) litigation settlement 2014 during may 2008 , the sec concluded its investigation that began in 2002 into our financial reporting practices , resulting in a settlement charge of $ 12.0 .", "investment impairments 2014 in 2007 we realized an other-than-temporary charge of $ 5.8 relating to a $ 12.5 investment in auction rate securities , representing our total investment in auction rate securities .", "for additional information see note 15 .", "note 6 : intangible assets goodwill goodwill is the excess purchase price remaining from an acquisition after an allocation of purchase price has been made to identifiable assets acquired and liabilities assumed based on estimated fair values .", "the changes in the carrying value of goodwill by segment for the years ended december 31 , 2008 and 2007 are as follows: ." ]

[ "during the latter part of the fourth quarter of 2008 our stock price declined significantly after our annual impairment review as of october 1 , 2008 , and our market capitalization was less than our book value as of december 31 , 2008 .", "we considered whether there were any events or circumstances indicative of a triggering event and determined that the decline in stock price during the fourth quarter was an event that would 201cmore likely than not 201d reduce the fair value of our individual reporting units below their book value , requiring us to perform an interim impairment test for goodwill at the reporting unit level .", "based on the interim impairment test conducted , we concluded that there was no impairment of our goodwill as of december 31 , 2008 .", "we will continue to monitor our stock price as it relates to the reconciliation of our market capitalization and the fair values of our individual reporting units throughout 2009 .", "during our annual impairment reviews as of october 1 , 2006 our discounted future operating cash flow projections at one of our domestic advertising reporting units indicated that the implied fair value of the goodwill at this reporting unit was less than its book value , primarily due to client losses , resulting in a goodwill impairment charge of $ 27.2 in 2006 in our ian segment .", "other intangible assets included in other intangible assets are assets with indefinite lives not subject to amortization and assets with definite lives subject to amortization .", "other intangible assets include non-compete agreements , license costs , trade names and customer lists .", "intangible assets with definitive lives subject to amortization are amortized on a ." ]

[ [ "", "IAN", "CMG", "Total" ], [ "Balance as of December 31, 2006", "$2,632.5", "$435.3", "$3,067.8" ], [ "Current year acquisitions", "86.0", "—", "86.0" ], [ "Contingent and deferred payments for prior acquisitions", "4.7", "3.7", "8.4" ], [ "Amounts allocated to business dispositions", "(5.7)", "—", "(5.7)" ], [ "Other (primarily foreign currency translation)", "72.2", "2.9", "75.1" ], [ "Balance as of December 31, 2007", "2,789.7", "441.9", "3,231.6" ], [ "Current year acquisitions", "99.5", "1.8", "101.3" ], [ "Contingent and deferred payments for prior acquisitions", "28.9", "1.1", "30.0" ], [ "Amounts allocated to business dispositions", "(0.4)", "—", "(0.4)" ], [ "Other (primarily foreign currency translation)", "(127.7)", "(13.9)", "(141.6)" ], [ "Balance as of December 31, 2008", "$2,790.0", "$430.9", "$3,220.9" ] ]

[ [ "", "ian", "cmg", "total" ], [ "balance as of december 31 2006", "$ 2632.5", "$ 435.3", "$ 3067.8" ], [ "current year acquisitions", "86.0", "2014", "86.0" ], [ "contingent and deferred payments for prior acquisitions", "4.7", "3.7", "8.4" ], [ "amounts allocated to business dispositions", "-5.7 ( 5.7 )", "2014", "-5.7 ( 5.7 )" ], [ "other ( primarily foreign currency translation )", "72.2", "2.9", "75.1" ], [ "balance as of december 31 2007", "2789.7", "441.9", "3231.6" ], [ "current year acquisitions", "99.5", "1.8", "101.3" ], [ "contingent and deferred payments for prior acquisitions", "28.9", "1.1", "30.0" ], [ "amounts allocated to business dispositions", "-0.4 ( 0.4 )", "2014", "-0.4 ( 0.4 )" ], [ "other ( primarily foreign currency translation )", "-127.7 ( 127.7 )", "-13.9 ( 13.9 )", "-141.6 ( 141.6 )" ], [ "balance as of december 31 2008", "$ 2790.0", "$ 430.9", "$ 3220.9" ] ]

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[ "international networks international networks generated revenues of $ 3.0 billion and adjusted oibda of $ 848 million during 2016 , which represented 47% ( 47 % ) and 35% ( 35 % ) of our total consolidated revenues and adjusted oibda , respectively .", "our international networks segment principally consists of national and pan-regional television networks and brands that are delivered across multiple distribution platforms .", "this segment generates revenue from operations in virtually every pay-tv market in the world through an infrastructure that includes operational centers in london , warsaw , milan , singapore and miami .", "global brands include discovery channel , animal planet , tlc , id , science channel and turbo ( known as velocity in the u.s. ) , along with brands exclusive to international networks , including eurosport , real time , dmax and discovery kids .", "as of december 31 , 2016 , international networks operated over 400 unique distribution feeds in over 40 languages with channel feeds customized according to language needs and advertising sales opportunities .", "international networks also has fta and broadcast networks in europe and the middle east and broadcast networks in germany , norway and sweden , and continues to pursue further international expansion .", "fta networks generate a significant portion of international networks' revenue .", "the penetration and growth rates of television services vary across countries and territories depending on numerous factors including the dominance of different television platforms in local markets .", "while pay-tv services have greater penetration in certain markets , fta or broadcast television is dominant in others .", "international networks has a large international distribution platform for its 37 networks , with as many as 13 networks distributed in any particular country or territory across the more than 220 countries and territories around the world .", "international networks pursues distribution across all television platforms based on the specific dynamics of local markets and relevant commercial agreements .", "in addition to the global networks described in the overview section above , we operate networks internationally that utilize the following brands : 2022 eurosport is the leading sports entertainment provider across europe with the following tv brands : eurosport , eurosport 2 and eurosportnews , reaching viewers across europe and asia , as well as eurosport digital , which includes eurosport player and eurosport.com .", "2022 viewing subscribers reached by each brand as of december 31 , 2016 were as follows : eurosport : 133 million ; eurosport 2 : 65 million ; and eurosportnews : 9 million .", "2022 eurosport telecasts live sporting events with both local and pan-regional appeal and its events focus on winter sports , cycling and tennis , including the tour de france and it is the home of grand slam tennis with all four tournaments .", "important local sports rights include bundesliga and motogp .", "in addition , eurosport has increasingly invested in more exclusive and localized rights to drive local audience and commercial relevance .", "2022 we have acquired the exclusive broadcast rights across all media platforms throughout europe for the four olympic games between 2018 and 2024 for 20ac1.3 billion ( $ 1.5 billion as of december 31 , 2016 ) .", "the broadcast rights exclude france for the olympic games in 2018 and 2020 , and exclude russia .", "in addition to fta broadcasts for the olympic games , many of these events are set to air on eurosport's pay-tv and digital platforms .", "2022 on november 2 , 2016 , we announced a long-term agreement and joint venture partnership with bamtech ( \"mlbam\" ) a technology services and video streaming company , and subsidiary of major league baseball's digital business , that includes the formation of bamtech europe , a joint venture that will provide digital technology services to a broad set of both sports and entertainment clients across europe .", "2022 as of december 31 , 2016 , dmax reached approximately 103 million viewers through fta networks , according to internal estimates .", "2022 dmax is a men 2019s factual entertainment channel in asia and europe .", "2022 discovery kids reached approximately 121 million viewers , according to internal estimates , as of december 31 , 2016 .", "2022 discovery kids is a leading children's network in latin america and asia .", "our international networks segment also owns and operates the following regional television networks , which reached the following number of subscribers and viewers via pay and fta or broadcast networks , respectively , as of december 31 , 2016 : television service international subscribers/viewers ( millions ) ." ]

[ "( a ) number of subscribers corresponds to the sum of the subscribers to each of the nordic broadcast networks in sweden , norway , finland and denmark subject to retransmission agreements with pay-tv providers .", "the nordic broadcast networks include kanal 5 , kanal 9 , and kanal 11 in sweden , tv norge , max , fem and vox in norway , tv 5 , kutonen , and frii in finland , and kanal 4 , kanal 5 , 6'eren , and canal 9 in denmark .", "similar to u.s .", "networks , a significant source of revenue for international networks relates to fees charged to operators who distribute our linear networks .", "such operators primarily include cable and dth satellite service providers .", "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 distributor agreements , and the market demand for the content that we provide .", "the other significant source of revenue for international networks relates to advertising sold on our television networks and across distribution platforms , similar to u.s .", "networks .", "advertising revenue is dependent upon a number of factors , including the development of pay and fta 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 portfolio of channels on multiple platforms .", "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 , advertising revenue growth results from continued subscriber growth , our localization strategy , and the shift of advertising spending from traditional broadcast networks to channels ." ]

[ [ "", "Television Service", "InternationalSubscribers/Viewers(millions)" ], [ "Quest", "FTA", "77" ], [ "Nordic broadcast networks^(a)", "Broadcast", "35" ], [ "Giallo", "FTA", "25" ], [ "Frisbee", "FTA", "25" ], [ "Focus", "FTA", "25" ], [ "K2", "FTA", "25" ], [ "DeeJay TV", "FTA", "25" ], [ "Discovery HD World", "Pay", "24" ], [ "Shed", "Pay", "12" ], [ "Discovery History", "Pay", "10" ], [ "Discovery World", "Pay", "6" ], [ "Discovery en Espanol (U.S.)", "Pay", "6" ], [ "Discovery Familia (U.S.)", "Pay", "6" ] ]

[ [ "", "television service", "internationalsubscribers/viewers ( millions )" ], [ "quest", "fta", "77" ], [ "nordic broadcast networks ( a )", "broadcast", "35" ], [ "giallo", "fta", "25" ], [ "frisbee", "fta", "25" ], [ "focus", "fta", "25" ], [ "k2", "fta", "25" ], [ "deejay tv", "fta", "25" ], [ "discovery hd world", "pay", "24" ], [ "shed", "pay", "12" ], [ "discovery history", "pay", "10" ], [ "discovery world", "pay", "6" ], [ "discovery en espanol ( u.s. )", "pay", "6" ], [ "discovery familia ( u.s. )", "pay", "6" ] ]

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[ "the goldman sachs group , inc .", "and subsidiaries notes to consolidated financial statements lending commitments the firm 2019s lending commitments are agreements to lend with fixed termination dates and depend on the satisfaction of all contractual conditions to borrowing .", "these commitments are presented net of amounts syndicated to third parties .", "the total commitment amount does not necessarily reflect actual future cash flows because the firm may syndicate all or substantial additional portions of these commitments .", "in addition , commitments can expire unused or be reduced or cancelled at the counterparty 2019s request .", "the table below presents information about lending commitments. ." ]

[ "in the table above : 2030 held for investment lending commitments are accounted for on an accrual basis .", "see note 9 for further information about such commitments .", "2030 held for sale lending commitments are accounted for at the lower of cost or fair value .", "2030 gains or losses related to lending commitments at fair value , if any , are generally recorded , net of any fees in other principal transactions .", "2030 substantially all lending commitments relates to the firm 2019s investing & lending segment .", "commercial lending .", "the firm 2019s commercial lending commitments were primarily extended to investment-grade corporate borrowers .", "such commitments included $ 93.99 billion as of december 2018 and $ 85.98 billion as of december 2017 , related to relationship lending activities ( principally used for operating and general corporate purposes ) and $ 27.92 billion as of december 2018 and $ 42.41 billion as of december 2017 , related to other investment banking activities ( generally extended for contingent acquisition financing and are often intended to be short-term in nature , as borrowers often seek to replace them with other funding sources ) .", "the firm also extends lending commitments in connection with other types of corporate lending , as well as commercial real estate financing .", "see note 9 for further information about funded loans .", "sumitomo mitsui financial group , inc .", "( smfg ) provides the firm with credit loss protection on certain approved loan commitments ( primarily investment-grade commercial lending commitments ) .", "the notional amount of such loan commitments was $ 15.52 billion as of december 2018 and $ 25.70 billion as of december 2017 .", "the credit loss protection on loan commitments provided by smfg is generally limited to 95% ( 95 % ) of the first loss the firm realizes on such commitments , up to a maximum of approximately $ 950 million .", "in addition , subject to the satisfaction of certain conditions , upon the firm 2019s request , smfg will provide protection for 70% ( 70 % ) of additional losses on such commitments , up to a maximum of $ 1.0 billion , of which $ 550 million of protection had been provided as of both december 2018 and december 2017 .", "the firm also uses other financial instruments to mitigate credit risks related to certain commitments not covered by smfg .", "these instruments primarily include credit default swaps that reference the same or similar underlying instrument or entity , or credit default swaps that reference a market index .", "warehouse financing .", "the firm provides financing to clients who warehouse financial assets .", "these arrangements are secured by the warehoused assets , primarily consisting of consumer and corporate loans .", "contingent and forward starting collateralized agreements / forward starting collateralized financings forward starting collateralized agreements includes resale and securities borrowing agreements , and forward starting collateralized financings includes repurchase and secured lending agreements that settle at a future date , generally within three business days .", "the firm also enters into commitments to provide contingent financing to its clients and counterparties through resale agreements .", "the firm 2019s funding of these commitments depends on the satisfaction of all contractual conditions to the resale agreement and these commitments can expire unused .", "letters of credit the firm has commitments under letters of credit issued by various banks which the firm provides to counterparties in lieu of securities or cash to satisfy various collateral and margin deposit requirements .", "investment commitments investment commitments includes commitments to invest in private equity , real estate and other assets directly and through funds that the firm raises and manages .", "investment commitments included $ 2.42 billion as of december 2018 and $ 2.09 billion as of december 2017 , related to commitments to invest in funds managed by the firm .", "if these commitments are called , they would be funded at market value on the date of investment .", "goldman sachs 2018 form 10-k 159 ." ]

[ [ "", "As of December" ], [ "<i>$ in millions</i>", "2018", "2017" ], [ "Held for investment", "$120,997", "$124,504" ], [ "Held for sale", "8,602", "9,838" ], [ "At fair value", "7,983", "9,404" ], [ "Total", "$137,582", "$143,746" ] ]

[ [ "$ in millions", "as of december 2018", "as of december 2017" ], [ "held for investment", "$ 120997", "$ 124504" ], [ "held for sale", "8602", "9838" ], [ "at fair value", "7983", "9404" ], [ "total", "$ 137582", "$ 143746" ] ]

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[ "shareowner return performance graph the following performance graph and related information shall not be deemed 201csoliciting material 201d or to be 201cfiled 201d with the sec , nor shall such information be incorporated by reference into any future filing under the securities act of 1933 or securities exchange act of 1934 , each as amended , except to the extent that the company specifically incorporates such information by reference into such filing .", "the following graph shows a five year comparison of cumulative total shareowners 2019 returns for our class b common stock , the standard & poor 2019s 500 index , and the dow jones transportation average .", "the comparison of the total cumulative return on investment , which is the change in the quarterly stock price plus reinvested dividends for each of the quarterly periods , assumes that $ 100 was invested on december 31 , 2010 in the standard & poor 2019s 500 index , the dow jones transportation average , and our class b common stock. ." ]

[ "." ]

[ [ "", "12/31/2010", "12/31/2011", "12/31/2012", "12/31/2013", "12/31/2014", "12/31/2015" ], [ "United Parcel Service, Inc.", "$100.00", "$103.88", "$107.87", "$158.07", "$171.77", "$160.61" ], [ "Standard & Poor’s 500 Index", "$100.00", "$102.11", "$118.43", "$156.77", "$178.22", "$180.67" ], [ "Dow Jones Transportation Average", "$100.00", "$100.01", "$107.49", "$151.97", "$190.08", "$158.23" ] ]

[ [ "", "12/31/2010", "12/31/2011", "12/31/2012", "12/31/2013", "12/31/2014", "12/31/2015" ], [ "united parcel service inc .", "$ 100.00", "$ 103.88", "$ 107.87", "$ 158.07", "$ 171.77", "$ 160.61" ], [ "standard & poor 2019s 500 index", "$ 100.00", "$ 102.11", "$ 118.43", "$ 156.77", "$ 178.22", "$ 180.67" ], [ "dow jones transportation average", "$ 100.00", "$ 100.01", "$ 107.49", "$ 151.97", "$ 190.08", "$ 158.23" ] ]

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[ "issuer purchases of equity securities the following table provides information about purchases by us during the three months ended december 31 , 2013 of equity securities that are registered by us pursuant to section 12 of the exchange act : period total number of shares purchased ( 1 ) average price paid per share total number of shares purchased as part of publicly announced plans or programs ( 1 ) ( 2 ) dollar value of shares that may yet be purchased under the plans or programs ( 1 ) ." ]

[ "( 1 ) as announced on may 1 , 2013 , in april 2013 , the board of directors replaced its previously approved share repurchase authorization of up to $ 1 billion with a current authorization for repurchases of up to $ 1 billion of our common shares exclusive of shares repurchased in connection with employee stock plans , expiring on june 30 , 2015 .", "under the current share repurchase authorization , shares may be purchased from time to time at prevailing prices in the open market , by block purchases , or in privately-negotiated transactions , subject to certain regulatory restrictions on volume , pricing , and timing .", "as of february 1 , 2014 , the remaining authorized amount under the current authorization totaled approximately $ 580 million .", "( 2 ) excludes 0.1 million shares repurchased in connection with employee stock plans. ." ]

[ [ "Period", "Total Number of Shares Purchased (1)", "Average Price Paid per Share", "Total Number of Shares Purchased as Part of Publicly AnnouncedPlans or Programs (1)(2)", "Dollar Value of Shares that May Yet Be Purchased Under the Plans orPrograms (1)" ], [ "October 2013", "0", "$0", "0", "$781,118,739" ], [ "November 2013", "1,191,867", "98.18", "1,191,867", "664,123,417" ], [ "December 2013", "802,930", "104.10", "802,930", "580,555,202" ], [ "Total", "1,994,797", "$100.56", "1,994,797", "" ] ]

[ [ "period", "total number of shares purchased ( 1 )", "average price paid per share", "total number of shares purchased as part of publicly announcedplans or programs ( 1 ) ( 2 )", "dollar value of shares that may yet be purchased under the plans orprograms ( 1 )" ], [ "october 2013", "0", "$ 0", "0", "$ 781118739" ], [ "november 2013", "1191867", "98.18", "1191867", "664123417" ], [ "december 2013", "802930", "104.10", "802930", "580555202" ], [ "total", "1994797", "$ 100.56", "1994797", "" ] ]

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[ "( 201cati 201d ) and spectrasite communications , llc ( 201cspectrasite 201d ) .", "we conduct our international operations through our subsidiary , american tower international , inc. , which in turn conducts operations through its various international operating subsidiaries .", "our international operations consist primarily of our operations in mexico and brazil , and also include operations in india , which we established in the second half of 2007 .", "we operate in two business segments : rental and management and network development services .", "for more information about our business segments , as well as financial information about the geographic areas in which we operate , see item 7 of this annual report under the caption 201cmanagement 2019s discussion and analysis of financial condition and results of operations 201d and note 18 to our consolidated financial statements included in this annual report .", "products and services rental and management our primary business is our communications site leasing business , which we conduct through our rental and management segment .", "this segment accounted for approximately 97% ( 97 % ) , 98% ( 98 % ) and 98% ( 98 % ) of our total revenues for the years ended december 31 , 2008 , 2007 and 2006 , respectively .", "our rental and management segment is comprised of our domestic and international site leasing business , including the operation of wireless communications towers , broadcast communications towers and das networks , as well as rooftop management .", "wireless communications towers.we are a leading owner and operator of wireless communications towers in the united states , mexico and brazil , based on number of towers and revenue .", "we also own and operate communications towers in india , where we commenced operations in the second half of 2007 .", "in addition to owned wireless communications towers , we also manage wireless communications sites for property owners in the united states , mexico and brazil .", "approximately 92% ( 92 % ) , 91% ( 91 % ) and 91% ( 91 % ) of our rental and management segment revenue was attributable to our wireless communications towers for the years ended december 31 , 2008 , 2007 and 2006 , respectively .", "as of december 31 , 2008 , our wireless communications tower portfolio included the following : country number of owned sites ( approx ) coverage area united states .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "19400 coverage spans 49 states and the district of columbia ; 90% ( 90 % ) of network provides coverage in the top 100 markets or core areas such as high traffic interstate corridors .", "mexico .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "2500 coverage primarily concentrated in highly populated areas , including mexico city , monterrey , guadalajara and acapulco .", "brazil .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "1100 coverage primarily concentrated in major metropolitan areas in central and southern brazil , including sao paulo , rio de janeiro , brasilia and curitiba .", "india .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "200 initial-phase coverage ( operations established in the second half of 2007 ) .", "we lease space on our wireless communications towers to customers in a diverse range of wireless industries , including personal communications services , cellular , enhanced specialized mobile radio , wimax .", "paging and fixed microwave .", "our major domestic wireless customers include at&t mobility , sprint nextel , verizon wireless ( which completed its merger with alltel in january 2009 ) and t-mobile usa .", "our major international wireless customers include grupo iusacell ( iusacell celular and unefon in mexico ) , nextel international in mexico and brazil , telefonica ( movistar in mexico and vivo in brazil ) , america movil ( telcel in mexico and claro in brazil ) and telecom italia mobile ( tim ) in brazil .", "for the year ended december 31 ." ]

[ "( 201cati 201d ) and spectrasite communications , llc ( 201cspectrasite 201d ) .", "we conduct our international operations through our subsidiary , american tower international , inc. , which in turn conducts operations through its various international operating subsidiaries .", "our international operations consist primarily of our operations in mexico and brazil , and also include operations in india , which we established in the second half of 2007 .", "we operate in two business segments : rental and management and network development services .", "for more information about our business segments , as well as financial information about the geographic areas in which we operate , see item 7 of this annual report under the caption 201cmanagement 2019s discussion and analysis of financial condition and results of operations 201d and note 18 to our consolidated financial statements included in this annual report .", "products and services rental and management our primary business is our communications site leasing business , which we conduct through our rental and management segment .", "this segment accounted for approximately 97% ( 97 % ) , 98% ( 98 % ) and 98% ( 98 % ) of our total revenues for the years ended december 31 , 2008 , 2007 and 2006 , respectively .", "our rental and management segment is comprised of our domestic and international site leasing business , including the operation of wireless communications towers , broadcast communications towers and das networks , as well as rooftop management .", "wireless communications towers.we are a leading owner and operator of wireless communications towers in the united states , mexico and brazil , based on number of towers and revenue .", "we also own and operate communications towers in india , where we commenced operations in the second half of 2007 .", "in addition to owned wireless communications towers , we also manage wireless communications sites for property owners in the united states , mexico and brazil .", "approximately 92% ( 92 % ) , 91% ( 91 % ) and 91% ( 91 % ) of our rental and management segment revenue was attributable to our wireless communications towers for the years ended december 31 , 2008 , 2007 and 2006 , respectively .", "as of december 31 , 2008 , our wireless communications tower portfolio included the following : country number of owned sites ( approx ) coverage area united states .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "19400 coverage spans 49 states and the district of columbia ; 90% ( 90 % ) of network provides coverage in the top 100 markets or core areas such as high traffic interstate corridors .", "mexico .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "2500 coverage primarily concentrated in highly populated areas , including mexico city , monterrey , guadalajara and acapulco .", "brazil .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "1100 coverage primarily concentrated in major metropolitan areas in central and southern brazil , including sao paulo , rio de janeiro , brasilia and curitiba .", "india .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "200 initial-phase coverage ( operations established in the second half of 2007 ) .", "we lease space on our wireless communications towers to customers in a diverse range of wireless industries , including personal communications services , cellular , enhanced specialized mobile radio , wimax .", "paging and fixed microwave .", "our major domestic wireless customers include at&t mobility , sprint nextel , verizon wireless ( which completed its merger with alltel in january 2009 ) and t-mobile usa .", "our major international wireless customers include grupo iusacell ( iusacell celular and unefon in mexico ) , nextel international in mexico and brazil , telefonica ( movistar in mexico and vivo in brazil ) , america movil ( telcel in mexico and claro in brazil ) and telecom italia mobile ( tim ) in brazil .", "for the year ended december 31 ." ]

[ [ "Country", "Number of Owned Sites (approx)", "Coverage Area" ], [ "United States", "19,400", "Coverage spans 49 states and the District of Columbia; 90% of network provides coverage in the top 100 markets or core areas such as high traffic interstate corridors." ], [ "Mexico", "2,500", "Coverage primarily concentrated in highly populated areas, including Mexico City, Monterrey, Guadalajara and Acapulco." ], [ "Brazil", "1,100", "Coverage primarily concentrated in major metropolitan areas in central and southern Brazil, including Sao Paulo, Rio de Janeiro, Brasilia and Curitiba." ], [ "India", "200", "Initial-phase coverage (operations established in the second half of 2007)." ] ]

[ [ "country", "number of owned sites ( approx )", "coverage area" ], [ "united states", "19400", "coverage spans 49 states and the district of columbia ; 90% ( 90 % ) of network provides coverage in the top 100 markets or core areas such as high traffic interstate corridors ." ], [ "mexico", "2500", "coverage primarily concentrated in highly populated areas including mexico city monterrey guadalajara and acapulco ." ], [ "brazil", "1100", "coverage primarily concentrated in major metropolitan areas in central and southern brazil including sao paulo rio de janeiro brasilia and curitiba ." ], [ "india", "200", "initial-phase coverage ( operations established in the second half of 2007 ) ." ] ]

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[ "57management's discussion and analysis of financial condition and results of operations facility include covenants relating to net interest coverage and total debt-to-book capitalization ratios .", "the company was in compliance with the terms of the 3-year credit facility at december 31 , 2005 .", "the company has never borrowed under its domestic revolving credit facilities .", "utilization of the non-u.s .", "credit facilities may also be dependent on the company's ability to meet certain conditions at the time a borrowing is requested .", "contractual obligations , guarantees , and other purchase commitments contractual obligations summarized in the table below are the company's obligations and commitments to make future payments under debt obligations ( assuming earliest possible exercise of put rights by holders ) , lease payment obligations , and purchase obligations as of december 31 , 2005 .", "payments due by period ( 1 ) ( in millions ) total 2006 2007 2008 2009 2010 thereafter ." ]

[ "( 1 ) amounts included represent firm , non-cancelable commitments .", "debt obligations : at december 31 , 2005 , the company's long-term debt obligations , including current maturities and unamortized discount and issue costs , totaled $ 4.0 billion , as compared to $ 5.0 billion at december 31 , 2004 .", "a table of all outstanding long-term debt securities can be found in note 4 , \"\"debt and credit facilities'' to the company's consolidated financial statements .", "as previously discussed , the decrease in the long- term debt obligations as compared to december 31 , 2004 , was due to the redemptions and repurchases of $ 1.0 billion principal amount of outstanding securities during 2005 .", "also , as previously discussed , the remaining $ 118 million of 7.6% ( 7.6 % ) notes due january 1 , 2007 were reclassified to current maturities of long-term debt .", "lease obligations : the company owns most of its major facilities , but does lease certain office , factory and warehouse space , land , and information technology and other equipment under principally non-cancelable operating leases .", "at december 31 , 2005 , future minimum lease obligations , net of minimum sublease rentals , totaled $ 1.2 billion .", "rental expense , net of sublease income , was $ 254 million in 2005 , $ 217 million in 2004 and $ 223 million in 2003 .", "purchase obligations : the company has entered into agreements for the purchase of inventory , license of software , promotional agreements , and research and development agreements which are firm commitments and are not cancelable .", "the longest of these agreements extends through 2015 .", "total payments expected to be made under these agreements total $ 992 million .", "commitments under other long-term agreements : the company has entered into certain long-term agreements to purchase software , components , supplies and materials from suppliers .", "most of the agreements extend for periods of one to three years ( three to five years for software ) .", "however , generally these agreements do not obligate the company to make any purchases , and many permit the company to terminate the agreement with advance notice ( usually ranging from 60 to 180 days ) .", "if the company were to terminate these agreements , it generally would be liable for certain termination charges , typically based on work performed and supplier on-hand inventory and raw materials attributable to canceled orders .", "the company's liability would only arise in the event it terminates the agreements for reasons other than \"\"cause.'' in 2003 , the company entered into outsourcing contracts for certain corporate functions , such as benefit administration and information technology related services .", "these contracts generally extend for 10 years and are expected to expire in 2013 .", "the total payments under these contracts are approximately $ 3 billion over 10 years ; however , these contracts can be terminated .", "termination would result in a penalty substantially less than the annual contract payments .", "the company would also be required to find another source for these services , including the possibility of performing them in-house .", "as is customary in bidding for and completing network infrastructure projects and pursuant to a practice the company has followed for many years , the company has a number of performance/bid bonds and standby letters of credit outstanding , primarily relating to projects of government and enterprise mobility solutions segment and the networks segment .", "these instruments normally have maturities of up to three years and are standard in the ." ]

[ [ "", "<i>Payments Due by Period⁽¹⁾</i>" ], [ "<i>(in millions)</i>", "<i>Total</i>", "<i>2006</i>", "<i>2007</i>", "<i>2008</i>", "<i>2009</i>", "<i>2010</i>", "<i>Thereafter</i>" ], [ "Long-Term Debt Obligations", "$4,033", "$119", "$1,222", "$200", "$2", "$529", "$1,961" ], [ "Lease Obligations", "1,150", "438", "190", "134", "109", "84", "195" ], [ "Purchase Obligations", "992", "418", "28", "3", "2", "2", "539" ], [ "Total Contractual Obligations", "$6,175", "$975", "$1,440", "$337", "$113", "$615", "$2,695" ] ]

[ [ "( in millions )", "payments due by period ( 1 ) total", "payments due by period ( 1 ) 2006", "payments due by period ( 1 ) 2007", "payments due by period ( 1 ) 2008", "payments due by period ( 1 ) 2009", "payments due by period ( 1 ) 2010", "payments due by period ( 1 ) thereafter" ], [ "long-term debt obligations", "$ 4033", "$ 119", "$ 1222", "$ 200", "$ 2", "$ 529", "$ 1961" ], [ "lease obligations", "1150", "438", "190", "134", "109", "84", "195" ], [ "purchase obligations", "992", "418", "28", "3", "2", "2", "539" ], [ "total contractual obligations", "$ 6175", "$ 975", "$ 1440", "$ 337", "$ 113", "$ 615", "$ 2695" ] ]

[]

[ "reinsurance commissions , fees and other revenue increased 1% ( 1 % ) driven by a favorable foreign currency translation of 2% ( 2 % ) and was partially offset by a 1% ( 1 % ) decline in dispositions , net of acquisitions and other .", "organic revenue was flat primarily resulting from strong growth in the capital market transactions and advisory business , partially offset by declines in global facultative placements .", "operating income operating income increased $ 120 million , or 10% ( 10 % ) , from 2010 to $ 1.3 billion in 2011 .", "in 2011 , operating income margins in this segment were 19.3% ( 19.3 % ) , up 70 basis points from 18.6% ( 18.6 % ) in 2010 .", "operating margin improvement was primarily driven by revenue growth , reduced costs of restructuring initiatives and realization of the benefits of those restructuring plans , which was partially offset by the negative impact of expense increases related to investment in the business , lease termination costs , legacy receivables write-off , and foreign currency exchange rates .", "hr solutions ." ]

[ "in october 2010 , we completed the acquisition of hewitt , one of the world 2019s leading human resource consulting and outsourcing companies .", "hewitt operates globally together with aon 2019s existing consulting and outsourcing operations under the newly created aon hewitt brand .", "hewitt 2019s operating results are included in aon 2019s results of operations beginning october 1 , 2010 .", "our hr solutions segment generated approximately 40% ( 40 % ) of our consolidated total revenues in 2011 and provides a broad range of human capital services , as follows : 2022 health and benefits advises clients about how to structure , fund , and administer employee benefit programs that attract , retain , and motivate employees .", "benefits consulting includes health and welfare , executive benefits , workforce strategies and productivity , absence management , benefits administration , data-driven health , compliance , employee commitment , investment advisory and elective benefits services .", "effective january 1 , 2012 , this line of business will be included in the results of the risk solutions segment .", "2022 retirement specializes in global actuarial services , defined contribution consulting , investment consulting , tax and erisa consulting , and pension administration .", "2022 compensation focuses on compensatory advisory/counsel including : compensation planning design , executive reward strategies , salary survey and benchmarking , market share studies and sales force effectiveness , with special expertise in the financial services and technology industries .", "2022 strategic human capital delivers advice to complex global organizations on talent , change and organizational effectiveness issues , including talent strategy and acquisition , executive on-boarding , performance management , leadership assessment and development , communication strategy , workforce training and change management .", "2022 benefits administration applies our hr expertise primarily through defined benefit ( pension ) , defined contribution ( 401 ( k ) ) , and health and welfare administrative services .", "our model replaces the resource-intensive processes once required to administer benefit plans with more efficient , effective , and less costly solutions .", "2022 human resource business processing outsourcing ( 2018 2018hr bpo 2019 2019 ) provides market-leading solutions to manage employee data ; administer benefits , payroll and other human resources processes ; and ." ]

[ [ "Years ended December 31,", "2011", "2010", "2009" ], [ "Revenue", "$4,501", "$2,111", "$1,267" ], [ "Operating income", "448", "234", "203" ], [ "Operating margin", "10.0%", "11.1%", "16.0%" ] ]

[ [ "years ended december 31,", "2011", "2010", "2009" ], [ "revenue", "$ 4501", "$ 2111", "$ 1267" ], [ "operating income", "448", "234", "203" ], [ "operating margin", "10.0% ( 10.0 % )", "11.1% ( 11.1 % )", "16.0% ( 16.0 % )" ] ]

[ { "arg1": "4501", "arg2": "2111", "op": "minus2-1", "res": "2389" }, { "arg1": "#0", "arg2": "2111", "op": "divide2-2", "res": "113%" } ]

[ "notes to consolidated financial statements 2014 ( continued ) merchant acquiring business in the united kingdom to the partnership .", "in addition , hsbc uk entered into a ten-year marketing alliance with the partnership in which hsbc uk will refer customers to the partnership for payment processing services in the united kingdom .", "on june 23 , 2008 , we entered into a new five year , $ 200 million term loan to fund a portion of the acquisition .", "we funded the remaining purchase price with excess cash and our existing credit facilities .", "the term loan bears interest , at our election , at the prime rate or london interbank offered rate plus a margin based on our leverage position .", "as of july 1 , 2008 , the interest rate on the term loan was 3.605% ( 3.605 % ) .", "the term loan calls for quarterly principal payments of $ 5 million beginning with the quarter ending august 31 , 2008 and increasing to $ 10 million beginning with the quarter ending august 31 , 2010 and $ 15 million beginning with the quarter ending august 31 , 2011 .", "the partnership agreement includes provisions pursuant to which hsbc uk may compel us to purchase , at fair value , additional membership units from hsbc uk ( the 201cput option 201d ) .", "hsbc uk may exercise the put option on the fifth anniversary of the closing of the acquisition and on each anniversary thereafter .", "by exercising the put option , hsbc uk can require us to purchase , on an annual basis , up to 15% ( 15 % ) of the total membership units .", "additionally , on the tenth anniversary of closing and each tenth anniversary thereafter , hsbc uk may compel us to purchase all of their membership units at fair value .", "while not redeemable until june 2013 , we estimate the maximum total redemption amount of the minority interest under the put option would be $ 421.4 million , as of may 31 , 2008 .", "the purpose of this acquisition was to establish a presence in the united kingdom .", "the key factors that contributed to the decision to make this acquisition include historical and prospective financial statement analysis and hsbc uk 2019s market share and retail presence in the united kingdom .", "the purchase price was determined by analyzing the historical and prospective financial statements and applying relevant purchase price multiples .", "the purchase price totaled $ 441.1 million , consisting of $ 438.6 million cash consideration plus $ 2.5 million of direct out of pocket costs .", "the acquisition has been recorded using the purchase method of accounting , and , accordingly , the purchase price has been allocated to the assets acquired and liabilities assumed based on their estimated fair values at the date of acquisition .", "the following table summarizes the preliminary purchase price allocation: ." ]

[ "due to the recent timing of the transaction , the allocation of the purchase price is preliminary .", "all of the goodwill associated with the acquisition is expected to be deductible for tax purposes .", "the customer-related intangible assets have amortization periods of up to 13 years .", "the contract-based intangible assets have amortization periods of 7 years .", "the trademark has an amortization period of 5 years. ." ]

[ [ "", "Total" ], [ "Goodwill", "$294,741" ], [ "Customer-related intangible assets", "116,920" ], [ "Contract-based intangible assets", "13,437" ], [ "Trademark", "2,204" ], [ "Property and equipment", "26,955" ], [ "Other current assets", "100" ], [ "Total assets acquired", "454,357" ], [ "Minority interest in equity of subsidiary (at historical cost)", "(13,257)" ], [ "Net assets acquired", "$441,100" ] ]

[ [ "", "total" ], [ "goodwill", "$ 294741" ], [ "customer-related intangible assets", "116920" ], [ "contract-based intangible assets", "13437" ], [ "trademark", "2204" ], [ "property and equipment", "26955" ], [ "other current assets", "100" ], [ "total assets acquired", "454357" ], [ "minority interest in equity of subsidiary ( at historical cost )", "-13257 ( 13257 )" ], [ "net assets acquired", "$ 441100" ] ]

[ { "arg1": "200", "arg2": "3.605%", "op": "multiply1-1", "res": "7.21" }, { "arg1": "#0", "arg2": "const_4", "op": "divide1-2", "res": "1.8" } ]

[ "results of operations and the estimated fair value of acquired assets and assumed liabilities are recorded in the consolidated financial statements from the date of acquisition .", "pro forma results of operations for the business combinations completed during fiscal 2016 have not been presented because the effects of these acquisitions , individually and in the aggregate , would not have been material to cadence 2019s financial results .", "the fair values of acquired intangible assets and assumed liabilities were determined using significant inputs that are not observable in the market .", "for an additional description of these fair value calculations , see note 16 in the notes to the consolidated financial statements .", "a trust for the benefit of the children of lip-bu tan , cadence 2019s president , chief executive officer , or ceo , and director , owned less than 2% ( 2 % ) of rocketick technologies ltd. , one of the acquired companies , and mr .", "tan and his wife serve as co-trustees of the trust and disclaim pecuniary and economic interest in the trust .", "the board of directors of cadence reviewed the transaction and concluded that it was in the best interests of cadence to proceed with the transaction .", "mr .", "tan recused himself from the board of directors 2019 discussion of the valuation of rocketick technologies ltd .", "and on whether to proceed with the transaction .", "a financial advisor provided a fairness opinion to cadence in connection with the transaction .", "2014 acquisitions during fiscal 2014 , cadence acquired jasper design automation , inc. , or jasper , a privately held provider of formal analysis solutions based in mountain view , california .", "the acquired technology complements cadence 2019s existing system design and verification platforms .", "total cash consideration for jasper , after taking into account adjustments for certain costs , and cash held by jasper at closing of $ 28.7 million , was $ 139.4 million .", "cadence will also make payments to certain employees through the third quarter of fiscal 2017 subject to continued employment and other conditions .", "cadence also completed two other business combinations during fiscal 2014 for total cash consideration of $ 27.5 million , after taking into account cash acquired of $ 2.1 million .", "acquisition-related transaction costs transaction costs associated with acquisitions were $ 1.1 million , $ 0.7 million and $ 3.7 million during fiscal 2016 , 2015 and 2014 , respectively .", "these costs consist of professional fees and administrative costs and were expensed as incurred in cadence 2019s consolidated income statements .", "note 8 .", "goodwill and acquired intangibles goodwill the changes in the carrying amount of goodwill during fiscal 2016 and 2015 were as follows : gross carrying amount ( in thousands ) ." ]

[ "cadence completed its annual goodwill impairment test during the third quarter of fiscal 2016 and determined that the fair value of cadence 2019s single reporting unit substantially exceeded the carrying amount of its net assets and that no impairment existed. ." ]

[ [ "", "Gross CarryingAmount (In thousands)" ], [ "Balance as of January 3, 2015", "$553,767" ], [ "Effect of foreign currency translation", "(1,995)" ], [ "Balance as of January 2, 2016", "551,772" ], [ "Goodwill resulting from acquisitions", "23,579" ], [ "Effect of foreign currency translation", "(2,587)" ], [ "Balance as of December 31, 2016", "$572,764" ] ]

[ [ "", "gross carryingamount ( in thousands )" ], [ "balance as of january 3 2015", "$ 553767" ], [ "effect of foreign currency translation", "-1995 ( 1995 )" ], [ "balance as of january 2 2016", "551772" ], [ "goodwill resulting from acquisitions", "23579" ], [ "effect of foreign currency translation", "-2587 ( 2587 )" ], [ "balance as of december 31 2016", "$ 572764" ] ]

[ { "arg1": "572764", "arg2": "553767", "op": "minus1-1", "res": "18997" }, { "arg1": "#0", "arg2": "553767", "op": "divide1-2", "res": "3.4%" } ]

[ "our international crude oil production is relatively sweet and is generally sold in relation to the brent crude benchmark .", "the differential between wti and brent average prices widened significantly in 2011 and remained in 2012 in comparison to almost no differential in 2010 .", "natural gas 2013 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 henry hub settlement prices for natural gas were lower in 2012 than in recent years .", "a decline in average settlement date henry hub natural gas prices began in september 2011 and continued into 2012 .", "although prices stabilized in late 2012 , they have not increased appreciably .", "our other major natural gas-producing regions are e.g .", "and europe .", "in the case of e.g .", "our natural gas sales are subject to term contracts , making realizations less volatile .", "because natural gas sales from e.g .", "are at fixed prices , our worldwide reported average natural gas realizations may not fully track market price movements .", "natural gas prices in europe have been significantly higher than in the u.s .", "oil sands mining the osm segment produces and sells various qualities of synthetic crude oil .", "output mix can be impacted by operational problems or planned unit outages at the mines or upgrader .", "sales prices for 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 wcs .", "in 2012 , the wcs discount from wti had increased , putting downward pressure on our average realizations .", "the operating cost structure of the osm 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 ( \"aeco\" ) natural gas sales index and crude oil prices , respectively .", "the table below shows average benchmark prices that impact both our revenues and variable costs. ." ]

[ "wcs ( dollars per bbl ) ( a ) $ 73.18 $ 77.97 $ 65.31 aeco natural gas sales index ( dollars per mmbtu ) ( b ) $ 2.39 $ 3.68 $ 3.89 ( a ) monthly pricing based upon average wti adjusted for differentials unique to western canada .", "( b ) monthly average day ahead index .", "integrated gas our ig operations include production and marketing of products manufactured from natural gas , such as lng and methanol , in e.g .", "world lng trade in 2012 has been estimated to be 240 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 e.g. , which sells lng under a long-term contract at prices tied to henry hub natural gas prices .", "gross sales from the plant were 3.8 mmt , 4.1 mmt and 3.7 mmt in 2012 , 2011 and 2010 .", "we own a 45 percent interest in a methanol plant located in e.g .", "through our investment in ampco .", "gross sales of methanol from the plant totaled 1.1 mmt , 1.0 mmt and 0.9 mmt in 2012 , 2011 and 2010 .", "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 2012 has been estimated to be 49 mmt .", "our plant capacity of 1.1 mmt is about 2 percent of world demand. ." ]

[ [ "Benchmark", "2012", "2011", "2010" ], [ "WTI crude oil(Dollars per bbl)", "$94.15", "$95.11", "$79.61" ], [ "WCS(Dollars per bbl)^(a)", "$73.18", "$77.97", "$65.31" ], [ "AECO natural gas sales index(Dollars per mmbtu)^(b)", "$2.39", "$3.68", "$3.89" ] ]

[ [ "benchmark", "2012", "2011", "2010" ], [ "wti crude oil ( dollars per bbl )", "$ 94.15", "$ 95.11", "$ 79.61" ], [ "wcs ( dollars per bbl ) ( a )", "$ 73.18", "$ 77.97", "$ 65.31" ], [ "aeco natural gas sales index ( dollars per mmbtu ) ( b )", "$ 2.39", "$ 3.68", "$ 3.89" ] ]

[]

[ "mastercard incorporated notes to consolidated financial statements 2014continued the municipal bond portfolio is comprised of tax exempt bonds and is diversified across states and sectors .", "the portfolio has an average credit quality of double-a .", "the short-term bond funds invest in fixed income securities , including corporate bonds , mortgage-backed securities and asset-backed securities .", "the company holds investments in ars .", "interest on these securities is exempt from u.s .", "federal income tax and the interest rate on the securities typically resets every 35 days .", "the securities are fully collateralized by student loans with guarantees , ranging from approximately 95% ( 95 % ) to 98% ( 98 % ) of principal and interest , by the u.s .", "government via the department of education .", "beginning on february 11 , 2008 , the auction mechanism that normally provided liquidity to the ars investments began to fail .", "since mid-february 2008 , all investment positions in the company 2019s ars investment portfolio have experienced failed auctions .", "the securities for which auctions have failed have continued to pay interest in accordance with the contractual terms of such instruments and will continue to accrue interest and be auctioned at each respective reset date until the auction succeeds , the issuer redeems the securities or they mature .", "during 2008 , ars were reclassified as level 3 from level 2 .", "as of december 31 , 2010 , the ars market remained illiquid , but issuer call and redemption activity in the ars student loan sector has occurred periodically since the auctions began to fail .", "during 2010 and 2009 , the company did not sell any ars in the auction market , but there were calls at par .", "the table below includes a roll-forward of the company 2019s ars investments from january 1 , 2009 to december 31 , 2010 .", "significant unobservable inputs ( level 3 ) ( in millions ) ." ]

[ "the company evaluated the estimated impairment of its ars portfolio to determine if it was other-than- temporary .", "the company considered several factors including , but not limited to , the following : ( 1 ) the reasons for the decline in value ( changes in interest rates , credit event , or market fluctuations ) ; ( 2 ) assessments as to whether it is more likely than not that it will hold and not be required to sell the investments for a sufficient period of time to allow for recovery of the cost basis ; ( 3 ) whether the decline is substantial ; and ( 4 ) the historical and anticipated duration of the events causing the decline in value .", "the evaluation for other-than-temporary impairments is a quantitative and qualitative process , which is subject to various risks and uncertainties .", "the risks and uncertainties include changes in credit quality , market liquidity , timing and amounts of issuer calls and interest rates .", "as of december 31 , 2010 , the company believed that the unrealized losses on the ars were not related to credit quality but rather due to the lack of liquidity in the market .", "the company believes that it is more ." ]

[ [ "", "Significant Unobservable Inputs (Level 3) (in millions)" ], [ "Fair value, December 31, 2008", "$192" ], [ "Calls, at par", "(28)" ], [ "Recovery of unrealized losses due to issuer calls", "5" ], [ "Increase in fair value", "11" ], [ "Fair value, December 31, 2009", "180" ], [ "Calls, at par", "(94)" ], [ "Recovery of unrealized losses due to issuer calls", "13" ], [ "Increase in fair value", "7" ], [ "Fair value, December 31, 2010", "$106" ] ]

[ [ "", "significant unobservable inputs ( level 3 ) ( in millions )" ], [ "fair value december 31 2008", "$ 192" ], [ "calls at par", "-28 ( 28 )" ], [ "recovery of unrealized losses due to issuer calls", "5" ], [ "increase in fair value", "11" ], [ "fair value december 31 2009", "180" ], [ "calls at par", "-94 ( 94 )" ], [ "recovery of unrealized losses due to issuer calls", "13" ], [ "increase in fair value", "7" ], [ "fair value december 31 2010", "$ 106" ] ]

[]

[ "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" ] ]

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[ "item 15 .", "exhibits , financial statement schedules .", "( continued ) kinder morgan , inc .", "form 10-k ." ]

[ "____________ ( a ) as a result of the implementation of asu 2009-17 , effective january 1 , 2010 , we ( i ) include the transactions and balances of our business trust , k n capital trust i and k n capital trust iii , in our consolidated financial statements and ( ii ) no longer include our junior subordinated deferrable interest debentures issued to the capital trusts ( see note 18 201crecent accounting pronouncements 201d ) .", "( b ) kmp issued its $ 500 million in principal amount of 9.00% ( 9.00 % ) senior notes due february 1 , 2019 in december 2008 .", "each holder of the notes has the right to require kmp to repurchase all or a portion of the notes owned by such holder on february 1 , 2012 at a purchase price equal to 100% ( 100 % ) of the principal amount of the notes tendered by the holder plus accrued and unpaid interest to , but excluding , the repurchase date .", "on and after february 1 , 2012 , interest will cease to accrue on the notes tendered for repayment .", "a holder 2019s exercise of the repurchase option is irrevocable .", "kinder morgan kansas , inc .", "the 2028 and 2098 debentures and the 2012 and 2015 senior notes are redeemable in whole or in part , at kinder morgan kansas , inc . 2019s option at any time , at redemption prices defined in the associated prospectus supplements .", "the 2027 debentures are redeemable in whole or in part , at kinder morgan kansas , inc . 2019s option after november 1 , 2004 at redemption prices defined in the associated prospectus supplements .", "on september 2 , 2010 , kinder morgan kansas , inc .", "paid the remaining $ 1.1 million principal balance outstanding on kinder morgan kansas , inc . 2019s 6.50% ( 6.50 % ) series debentures , due 2013 .", "kinder morgan finance company , llc on december 20 , 2010 , kinder morgan finance company , llc , a wholly owned subsidiary of kinder morgan kansas , inc. , completed a public offering of senior notes .", "it issued a total of $ 750 million in principal amount of 6.00% ( 6.00 % ) senior notes due january 15 , 2018 .", "net proceeds received from the issuance of the notes , after underwriting discounts and commissions , were $ 744.2 million , which were used to retire the principal amount of the 5.35% ( 5.35 % ) senior notes that matured on january 5 , 2011 .", "the 2011 , 2016 , 2018 and 2036 senior notes issued by kinder morgan finance company , llc are redeemable in whole or in part , at kinder morgan kansas , inc . 2019s option at any time , at redemption prices defined in the associated prospectus supplements .", "each series of these notes is fully and unconditionally guaranteed by kinder morgan kansas , inc .", "on a senior unsecured basis as to principal , interest and any additional amounts required to be paid as a result of any withholding or deduction for canadian taxes .", "capital trust securities kinder morgan kansas , inc . 2019s business trusts , k n capital trust i and k n capital trust iii , are obligated for $ 12.7 million of 8.56% ( 8.56 % ) capital trust securities maturing on april 15 , 2027 and $ 14.4 million of 7.63% ( 7.63 % ) capital trust securities maturing on april 15 , 2028 , respectively , which it guarantees .", "the 2028 securities are redeemable in whole or in part , at kinder morgan kansas , inc . 2019s option at any time , at redemption prices as defined in the associated prospectus .", "the 2027 securities are redeemable in whole or in part at kinder morgan kansas , inc . 2019s option and at any time in certain limited circumstances upon the occurrence of certain events and at prices , all defined in the associated prospectus supplements .", "upon redemption by kinder morgan kansas , inc .", "or at maturity of the junior subordinated deferrable interest debentures , it must use the proceeds to make redemptions of the capital trust securities on a pro rata basis. ." ]

[ [ "Kinder Morgan Liquids Terminals LLC-N.J. Development Revenue Bonds due January 15, 2018", "25.0", "25.0" ], [ "Kinder Morgan Columbus LLC-5.50% MS Development Revenue note due September 1, 2022", "8.2", "8.2" ], [ "Kinder Morgan Operating L.P. “B”-Jackson-Union Cos. IL Revenue Bonds due April 1, 2024", "23.7", "23.7" ], [ "International Marine Terminals-Plaquemines, LA Revenue Bonds due March 15, 2025", "40.0", "40.0" ], [ "Other miscellaneous subsidiary debt", "1.3", "1.3" ], [ "Unamortized Debt Discount on Long-term Debt", "(20.3)", "(21.2)" ], [ "Current Maturities of Long-term Debt", "(1,263.3)", "(596.6)" ], [ "Total Long-term Debt– KMP", "$10,282.8", "$10,007.5" ] ]

[ [ "kinder morgan liquids terminals llc-n.j . development revenue bonds due january 15 2018 kinder morgan columbus llc-5.50% ( llc-5.50 % ) ms development revenue note due september 1 2022", "25.0 8.2", "25.0 8.2" ], [ "kinder morgan operating l.p . 201cb 201d-jackson-union cos . il revenue bonds due april 1 2024", "23.7", "23.7" ], [ "international marine terminals-plaquemines la revenue bonds due march 15 2025", "40.0", "40.0" ], [ "other miscellaneous subsidiary debt", "1.3", "1.3" ], [ "unamortized debt discount on long-term debt", "-20.3 ( 20.3 )", "-21.2 ( 21.2 )" ], [ "current maturities of long-term debt", "-1263.3 ( 1263.3 )", "-596.6 ( 596.6 )" ], [ "total long-term debt 2013 kmp", "$ 10282.8", "$ 10007.5" ] ]

[]

[ "measurement point december 31 booking holdings nasdaq composite index s&p 500 rdg internet composite ." ]

[ "." ]

[ [ "Measurement PointDecember 31", "Booking Holdings Inc.", "NASDAQComposite Index", "S&P 500Index", "RDG InternetComposite" ], [ "2013", "100.00", "100.00", "100.00", "100.00" ], [ "2014", "98.09", "114.62", "113.69", "96.39" ], [ "2015", "109.68", "122.81", "115.26", "133.20" ], [ "2016", "126.12", "133.19", "129.05", "140.23" ], [ "2017", "149.50", "172.11", "157.22", "202.15" ], [ "2018", "148.18", "165.84", "150.33", "201.16" ] ]

[ [ "measurement pointdecember 31", "booking holdings inc .", "nasdaqcomposite index", "s&p 500index", "rdg internetcomposite" ], [ "2013", "100.00", "100.00", "100.00", "100.00" ], [ "2014", "98.09", "114.62", "113.69", "96.39" ], [ "2015", "109.68", "122.81", "115.26", "133.20" ], [ "2016", "126.12", "133.19", "129.05", "140.23" ], [ "2017", "149.50", "172.11", "157.22", "202.15" ], [ "2018", "148.18", "165.84", "150.33", "201.16" ] ]

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[ "american tower corporation and subsidiaries notes to consolidated financial statements assessments in each of the tax jurisdictions resulting from these examinations .", "the company believes that adequate provisions have been made for income taxes for all periods through december 31 , 2010 .", "12 .", "stock-based compensation the company recognized stock-based compensation of $ 52.6 million , $ 60.7 million and $ 54.8 million for the years ended december 31 , 2010 , 2009 and 2008 , respectively .", "stock-based compensation for the year ended december 31 , 2009 included $ 6.9 million related to the modification of the vesting and exercise terms for certain employee 2019s equity awards .", "the company did not capitalize any stock-based compensation during the years ended december 31 , 2010 and 2009 .", "summary of stock-based compensation plans 2014the company maintains equity incentive plans that provide for the grant of stock-based awards to its directors , officers and employees .", "under the 2007 equity incentive plan ( 201c2007 plan 201d ) , which provides for the grant of non-qualified and incentive stock options , as well as restricted stock units , restricted stock and other stock-based awards , exercise prices in the case of non-qualified and incentive stock options are not less than the fair market value of the underlying common stock on the date of grant .", "equity awards typically vest ratably over various periods , generally four years , and generally expire ten years from the date of grant .", "stock options 2014as of december 31 , 2010 , the company had the ability to grant stock-based awards with respect to an aggregate of 22.0 million shares of common stock under the 2007 plan .", "the fair value of each option grant is estimated on the date of grant using the black-scholes option pricing model based on the assumptions noted in the table below .", "the risk-free treasury rate is based on the u.s .", "treasury yield in effect at the accounting measurement date .", "the expected life ( estimated period of time outstanding ) was estimated using the vesting term and historical exercise behavior of company employees .", "the expected volatility was based on historical volatility for a period equal to the expected life of the stock options .", "key assumptions used to apply this pricing model are as follows: ." ]

[ "the weighted average grant date fair value per share during the years ended december 31 , 2010 , 2009 and 2008 was $ 15.03 , $ 8.90 and $ 9.55 , respectively .", "the intrinsic value of stock options exercised during the years ended december 31 , 2010 , 2009 and 2008 was $ 62.7 million , $ 40.1 million and $ 99.1 million , respectively .", "as of december 31 , 2010 , total unrecognized compensation expense related to unvested stock options was approximately $ 27.7 million and is expected to be recognized over a weighted average period of approximately two years .", "the amount of cash received from the exercise of stock options was approximately $ 129.1 million during the year ended december 31 , 2010 .", "during the year ended december 31 , 2010 , the company realized approximately $ 0.3 million of state tax benefits from the exercise of stock options. ." ]

[ [ "", "2010", "2009", "2008" ], [ "Range of risk-free interest rate", "1.41% – 2.39%", "1.41% – 2.04%", "1.44% – 3.05%" ], [ "Weighted average risk-free interest rate", "2.35%", "1.71%", "1.89%" ], [ "Expected life of option grants", "4.60 years", "4.00 years", "4.00 years" ], [ "Range of expected volatility of underlying stock price", "37.11% – 37.48%", "36.00% – 36.63%", "28.51% – 35.30%" ], [ "Weighted average expected volatility of underlying stock price", "37.14%", "36.23%", "29.10%" ], [ "Expected annual dividends", "N/A", "N/A", "N/A" ] ]

[ [ "", "2010", "2009", "2008" ], [ "range of risk-free interest rate", "1.41% ( 1.41 % ) 2013 2.39% ( 2.39 % )", "1.41% ( 1.41 % ) 2013 2.04% ( 2.04 % )", "1.44% ( 1.44 % ) 2013 3.05% ( 3.05 % )" ], [ "weighted average risk-free interest rate", "2.35% ( 2.35 % )", "1.71% ( 1.71 % )", "1.89% ( 1.89 % )" ], [ "expected life of option grants", "4.60 years", "4.00 years", "4.00 years" ], [ "range of expected volatility of underlying stock price", "37.11% ( 37.11 % ) 2013 37.48% ( 37.48 % )", "36.00% ( 36.00 % ) 2013 36.63% ( 36.63 % )", "28.51% ( 28.51 % ) 2013 35.30% ( 35.30 % )" ], [ "weighted average expected volatility of underlying stock price", "37.14% ( 37.14 % )", "36.23% ( 36.23 % )", "29.10% ( 29.10 % )" ], [ "expected annual dividends", "n/a", "n/a", "n/a" ] ]

[]

[ "company stock performance the following graph shows a five-year comparison of cumulative total shareholder return , calculated on a dividend reinvested basis , for the company , the s&p 500 composite index , the s&p computer hardware index , and the dow jones u.s .", "technology index .", "the graph assumes $ 100 was invested in each of the company 2019s common stock , the s&p 500 composite index , the s&p computer hardware index , and the dow jones u.s .", "technology index as of the market close on september 30 , 2007 .", "data points on the graph are annual .", "note that historic stock price performance is not necessarily indicative of future stock price performance .", "sep-11sep-10sep-09sep-08sep-07 sep-12 apple inc .", "s&p 500 s&p computer hardware dow jones us technology comparison of 5 year cumulative total return* among apple inc. , the s&p 500 index , the s&p computer hardware index , and the dow jones us technology index *$ 100 invested on 9/30/07 in stock or index , including reinvestment of dividends .", "fiscal year ending september 30 .", "copyright a9 2012 s&p , a division of the mcgraw-hill companies inc .", "all rights reserved .", "september 30 , september 30 , september 30 , september 30 , september 30 , september 30 ." ]

[ "." ]

[ [ "", "September 30, 2007", "September 30, 2008", "September 30, 2009", "September 30, 2010", "September 30, 2011", "September 30, 2012" ], [ "Apple Inc.", "$100", "$74", "$121", "$185", "$248", "$437" ], [ "S&P 500", "$100", "$78", "$73", "$80", "$81", "$105" ], [ "S&P Computer Hardware", "$100", "$84", "$99", "$118", "$134", "$214" ], [ "Dow Jones US Technology", "$100", "$76", "$85", "$95", "$98", "$127" ] ]

[ [ "", "september 30 2007", "september 30 2008", "september 30 2009", "september 30 2010", "september 30 2011", "september 30 2012" ], [ "apple inc .", "$ 100", "$ 74", "$ 121", "$ 185", "$ 248", "$ 437" ], [ "s&p 500", "$ 100", "$ 78", "$ 73", "$ 80", "$ 81", "$ 105" ], [ "s&p computer hardware", "$ 100", "$ 84", "$ 99", "$ 118", "$ 134", "$ 214" ], [ "dow jones us technology", "$ 100", "$ 76", "$ 85", "$ 95", "$ 98", "$ 127" ] ]

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[ "the pnc financial services group , inc .", "2013 form 10-k 29 part ii item 5 2013 market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities ( a ) ( 1 ) our common stock is listed on the new york stock exchange and is traded under the symbol 201cpnc . 201d at the close of business on february 15 , 2019 , there were 53986 common shareholders of record .", "holders of pnc common stock are entitled to receive dividends when declared by our board of directors out of funds legally available for this purpose .", "our board of directors may not pay or set apart dividends on the common stock until dividends for all past dividend periods on any series of outstanding preferred stock and certain outstanding capital securities issued by the parent company have been paid or declared and set apart for payment .", "the board of directors presently intends to continue the policy of paying quarterly cash dividends .", "the amount of any future dividends will depend on economic and market conditions , our financial condition and operating results , and other factors , including contractual restrictions and applicable government regulations and policies ( such as those relating to the ability of bank and non-bank subsidiaries to pay dividends to the parent company and regulatory capital limitations ) .", "the amount of our dividend is also currently subject to the results of the supervisory assessment of capital adequacy and capital planning processes undertaken by the federal reserve and our primary bank regulators as part of the comprehensive capital analysis and review ( ccar ) process as described in the supervision and regulation section in item 1 of this report .", "the federal reserve has the power to prohibit us from paying dividends without its approval .", "for further information concerning dividend restrictions and other factors that could limit our ability to pay dividends , as well as restrictions on loans , dividends or advances from bank subsidiaries to the parent company , see the supervision and regulation section in item 1 , item 1a risk factors , the liquidity and capital management portion of the risk management section in item 7 , and note 10 borrowed funds , note 15 equity and note 18 regulatory matters in the notes to consolidated financial statements in item 8 of this report , which we include here by reference .", "we include here by reference the information regarding our compensation plans under which pnc equity securities are authorized for issuance as of december 31 , 2018 in the table ( with introductory paragraph and notes ) in item 12 of this report .", "our stock transfer agent and registrar is : computershare trust company , n.a .", "250 royall street canton , ma 02021 800-982-7652 www.computershare.com/pnc registered shareholders may contact computershare regarding dividends and other shareholder services .", "we include here by reference the information that appears under the common stock performance graph caption at the end of this item 5 .", "( a ) ( 2 ) none .", "( b ) not applicable .", "( c ) details of our repurchases of pnc common stock during the fourth quarter of 2018 are included in the following table : in thousands , except per share data 2018 period total shares purchased ( a ) average price paid per share total shares purchased as part of publicly announced programs ( b ) maximum number of shares that may yet be purchased under the programs ( b ) ." ]

[ "( a ) includes pnc common stock purchased in connection with our various employee benefit plans generally related to forfeitures of unvested restricted stock awards and shares used to cover employee payroll tax withholding requirements .", "note 11 employee benefit plans and note 12 stock based compensation plans in the notes to consolidated financial statements in item 8 of this report include additional information regarding our employee benefit and equity compensation plans that use pnc common stock .", "( b ) on march 11 , 2015 , we announced that our board of directors approved a stock repurchase program authorization in the amount of 100 million shares of pnc common stock , effective april 1 , 2015 .", "repurchases are made in open market or privately negotiated transactions and the timing and exact amount of common stock repurchases will depend on a number of factors including , among others , market and general economic conditions , regulatory capital considerations , alternative uses of capital , the potential impact on our credit ratings , and contractual and regulatory limitations , including the results of the supervisory assessment of capital adequacy and capital planning processes undertaken by the federal reserve as part of the ccar process .", "in june 2018 , we announced share repurchase programs of up to $ 2.0 billion for the four quarter period beginning with the third quarter of 2018 , including repurchases of up to $ 300 million related to stock issuances under employee benefit plans , in accordance with pnc's 2018 capital plan .", "in november 2018 , we announced an increase to these previously announced programs in the amount of up to $ 900 million in additional common share repurchases .", "the aggregate repurchase price of shares repurchased during the fourth quarter of 2018 was $ .8 billion .", "see the liquidity and capital management portion of the risk management section in item 7 of this report for more information on the authorized share repurchase programs for the period july 1 , 2018 through june 30 , 2019 .", "http://www.computershare.com/pnc ." ]

[ [ "2018 period", "Total shares purchased (a)", "Average price paid per share", "Total shares purchased as part of publicly announced programs (b)", "Maximum number of shares that may yet be purchased under the programs (b)" ], [ "October 1 – 31", "1,204", "$128.43", "1,189", "25,663" ], [ "November 1 – 30", "1,491", "$133.79", "1,491", "24,172" ], [ "December 1 – 31", "3,458", "$119.43", "3,458", "20,714" ], [ "Total", "6,153", "$124.67", "", "" ] ]

[ [ "2018 period", "total shares purchased ( a )", "average price paid per share", "total shares purchased as part of publicly announced programs ( b )", "maximum number of shares that may yet be purchased under the programs ( b )" ], [ "october 1 2013 31", "1204", "$ 128.43", "1189", "25663" ], [ "november 1 2013 30", "1491", "$ 133.79", "1491", "24172" ], [ "december 1 2013 31", "3458", "$ 119.43", "3458", "20714" ], [ "total", "6153", "$ 124.67", "", "" ] ]

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[ "entergy mississippi , inc .", "management's financial discussion and analysis the net wholesale revenue variance is primarily due to lower profit on joint account sales and reduced capacity revenue from the municipal energy agency of mississippi .", "gross operating revenues , fuel and purchased power expenses , and other regulatory charges gross operating revenues increased primarily due to an increase of $ 152.5 million in fuel cost recovery revenues due to higher fuel rates , partially offset by a decrease of $ 43 million in gross wholesale revenues due to a decrease in net generation and purchases in excess of decreased net area demand resulting in less energy available for resale sales coupled with a decrease in system agreement remedy receipts .", "fuel and purchased power expenses increased primarily due to increases in the average market prices of natural gas and purchased power , partially offset by decreased demand and decreased recovery from customers of deferred fuel costs .", "other regulatory charges increased primarily due to increased recovery through the grand gulf rider of grand gulf capacity costs due to higher rates and increased recovery of costs associated with the power management recovery rider .", "there is no material effect on net income due to quarterly adjustments to the power management recovery rider .", "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 revenue variance is primarily due to a formula rate plan increase effective july 2007 .", "the formula rate plan filing is discussed further in \"state and local rate regulation\" below .", "the volume/weather variance is primarily due to increased electricity usage primarily in the residential and commercial sectors , including the effect of more favorable weather on billed electric sales in 2007 compared to 2006 .", "billed electricity usage increased 214 gwh .", "the increase in usage was partially offset by decreased usage in the industrial sector .", "the transmission revenue variance is due to higher rates and the addition of new transmission customers in late 2006 .", "the transmission equalization variance is primarily due to a revision made in 2006 of transmission equalization receipts among entergy companies .", "the reserve equalization variance is primarily due to a revision in 2006 of reserve equalization payments among entergy companies due to a ferc ruling regarding the inclusion of interruptible loads in reserve ." ]

[ [ "", "Amount (In Millions)" ], [ "2006 net revenue", "$466.1" ], [ "Base revenue", "7.9" ], [ "Volume/weather", "4.5" ], [ "Transmission revenue", "4.1" ], [ "Transmission equalization", "4.0" ], [ "Reserve equalization", "3.8" ], [ "Attala costs", "(10.2)" ], [ "Other", "6.7" ], [ "2007 net revenue", "$486.9" ] ]

[ [ "", "amount ( in millions )" ], [ "2006 net revenue", "$ 466.1" ], [ "base revenue", "7.9" ], [ "volume/weather", "4.5" ], [ "transmission revenue", "4.1" ], [ "transmission equalization", "4.0" ], [ "reserve equalization", "3.8" ], [ "attala costs", "-10.2 ( 10.2 )" ], [ "other", "6.7" ], [ "2007 net revenue", "$ 486.9" ] ]

[]

[ "page 30 of 94 are included in capital spending amounts .", "another example is the company 2019s decision in 2007 to contribute an additional $ 44.5 million ( $ 27.3 million ) to its pension plans as part of its overall debt reduction plan .", "based on this , our consolidated free cash flow is summarized as follows: ." ]

[ "based on information currently available , we estimate cash flows from operating activities for 2008 to be approximately $ 650 million , capital spending to be approximately $ 350 million and free cash flow to be in the $ 300 million range .", "capital spending of $ 259.9 million ( net of $ 48.6 million in insurance recoveries ) in 2007 was below depreciation and amortization expense of $ 281 million .", "we continue to invest capital in our best performing operations , including projects to increase custom can capabilities , improve beverage can and end making productivity and add more beverage can capacity in europe , as well as expenditures in the aerospace and technologies segment .", "of the $ 350 million of planned capital spending for 2008 , approximately $ 180 million will be spent on top-line sales growth projects .", "debt facilities and refinancing interest-bearing debt at december 31 , 2007 , decreased $ 93.1 million to $ 2358.6 million from $ 2451.7 million at december 31 , 2006 .", "the 2007 debt decrease from 2006 was primarily attributed to debt payments offset by higher foreign exchange rates .", "at december 31 , 2007 , $ 705 million was available under the company 2019s multi-currency revolving credit facilities .", "the company also had $ 345 million of short-term uncommitted credit facilities available at the end of the year , of which $ 49.7 million was outstanding .", "on october 13 , 2005 , ball refinanced its senior secured credit facilities and during the third and fourth quarters of 2005 , ball redeemed its 7.75% ( 7.75 % ) senior notes due august 2006 primarily through the drawdown of funds under the new credit facilities .", "the refinancing and redemption resulted in a pretax debt refinancing charge of $ 19.3 million ( $ 12.3 million after tax ) to reflect the call premium associated with the senior notes and the write off of unamortized debt issuance costs .", "the company has a receivables sales agreement that provides for the ongoing , revolving sale of a designated pool of trade accounts receivable of ball 2019s north american packaging operations , up to $ 250 million .", "the agreement qualifies as off-balance sheet financing under the provisions of statement of financial accounting standards ( sfas ) no .", "140 , as amended by sfas no .", "156 .", "net funds received from the sale of the accounts receivable totaled $ 170 million and $ 201.3 million at december 31 , 2007 and 2006 , respectively , and are reflected as a reduction of accounts receivable in the consolidated balance sheets .", "the company was not in default of any loan agreement at december 31 , 2007 , and has met all payment obligations .", "the u.s .", "note agreements , bank credit agreement and industrial development revenue bond agreements contain certain restrictions relating to dividends , investments , financial ratios , guarantees and the incurrence of additional indebtedness .", "additional details about the company 2019s receivables sales agreement and debt are available in notes 7 and 13 , respectively , accompanying the consolidated financial statements within item 8 of this report. ." ]

[ [ "($ in millions)", "2007", "2006", "2005" ], [ "Cash flows from operating activities", "$673.0", "$401.4", "$558.8" ], [ "Incremental pension funding, net of tax", "27.3", "–", "–" ], [ "Capital spending", "(308.5)", "(279.6)", "(291.7)" ], [ "Proceeds for replacement of fire-damaged assets", "48.6", "61.3", "–" ], [ "Free cash flow", "$440.4", "$183.1", "$267.1" ] ]

[ [ "( $ in millions )", "2007", "2006", "2005" ], [ "cash flows from operating activities", "$ 673.0", "$ 401.4", "$ 558.8" ], [ "incremental pension funding net of tax", "27.3", "2013", "2013" ], [ "capital spending", "-308.5 ( 308.5 )", "-279.6 ( 279.6 )", "-291.7 ( 291.7 )" ], [ "proceeds for replacement of fire-damaged assets", "48.6", "61.3", "2013" ], [ "free cash flow", "$ 440.4", "$ 183.1", "$ 267.1" ] ]

[]

[ "table of contents ." ]

[ "the company issued 35000 , 115485 and 39900 performance-based restricted stock awards during 2016 , 2015 and 2014 , respectively .", "of the cumulative performance-based restricted stock awards issued , defined operating metrics were assigned to 63462 , 51795 and 20667 awards with grant-date fair values of $ 84.61 , $ 86.38 and $ 81.52 during 2016 , 2015 and 2014 , respectively .", "the grant-date fair value of the awards is being recorded from the grant date through the conclusion of the measurement period associated with each operating metric based on management's estimates concerning the probability of vesting .", "as of december 31 , 2016 , 7625 units of the total 2014 awards granted were earned and will be issued in 2017 .", "total compensation expense associated with the awards recorded for the years ended december 31 , 2016 , 2015 and 2014 was $ 0.4 million , $ 0.4 million and $ 0.1 million , respectively .", "in addition , in 2016 , 2015 and 2014 , the company granted restricted stock units of 488622 , 344500 and 364150 , respectively , that will vest over a three- or four-year period with weighted-average grant-date fair values of $ 88.51 , $ 86.34 and $ 82.13 , respectively .", "during 2016 and 2015 , 162019 and 85713 shares vested and were released , respectively .", "as of december 31 , 2016 , 2015 and 2014 , 838327 , 571462 and 344750 units were outstanding , respectively .", "total compensation expense is being recorded over the service period and was $ 19.1 million , $ 12.5 million and $ 5.8 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively .", "in conjunction with a 2015 acquisition , ansys issued 68451 shares of replacement restricted stock with a weighted-average grant-date fair value of $ 90.48 .", "of the $ 6.2 million grant-date fair value , $ 3.5 million , related to partially vested awards , was recorded as non-cash purchase price consideration .", "the remaining fair value will be recognized as stock compensation expense through the conclusion of the service period .", "during the years ended december 31 , 2016 and 2015 , the company recorded $ 1.2 million and $ 0.6 million , respectively , of stock compensation expense related to these awards .", "in conjunction with a 2011 acquisition , the company granted performance-based restricted stock awards .", "vesting was determined based on the achievements of certain revenue and operating income targets of the entity post-acquisition .", "total compensation expense associated with the awards recorded for the year ended december 31 , 2014 was $ 4.7 million .", "the company has granted deferred stock awards to non-affiliate independent directors , which are rights to receive shares of common stock upon termination of service as a director .", "in 2015 and prior , the deferred stock awards were granted quarterly in arrears and vested immediately upon grant .", "associated with these awards , the company established a non-qualified 409 ( a ) deferred compensation plan with assets held under a rabbi trust to provide directors an opportunity to diversify their vested awards .", "during open trading windows and at their elective option , the directors may convert their company shares into a variety of non-company-stock investment options in order to diversify their holdings .", "as of december 31 , 2016 , 5000 shares have been diversified and 184099 undiversified deferred stock awards have vested with the underlying shares remaining unissued until the service termination of the respective director owners .", "in may 2016 , the company granted 38400 deferred stock awards which will vest in full on the one-year anniversary of the grant .", "total compensation expense associated with the awards recorded for the years ended december 31 , 2016 , 2015 and 2014 was $ 1.9 million , $ 4.0 million and $ 3.5 million , respectively. ." ]

[ [ "", "Year Ended December 31," ], [ "Assumptions used in Monte Carlo lattice pricing model", "2016", "2015", "2014" ], [ "Risk-free interest rate", "1.0%", "1.1%", "0.7%" ], [ "Expected dividend yield", "—%", "—%", "—%" ], [ "Expected volatility—ANSYS stock price", "21%", "23%", "25%" ], [ "Expected volatility—NASDAQ Composite Index", "16%", "14%", "15%" ], [ "Expected term", "2.8 years", "2.8 years", "2.8 years" ], [ "Correlation factor", "0.65", "0.60", "0.70" ] ]

[ [ "assumptions used in monte carlo lattice pricing model", "year ended december 31 , 2016", "year ended december 31 , 2015", "year ended december 31 , 2014" ], [ "risk-free interest rate", "1.0% ( 1.0 % )", "1.1% ( 1.1 % )", "0.7% ( 0.7 % )" ], [ "expected dividend yield", "2014% ( 2014 % )", "2014% ( 2014 % )", "2014% ( 2014 % )" ], [ "expected volatility 2014ansys stock price", "21% ( 21 % )", "23% ( 23 % )", "25% ( 25 % )" ], [ "expected volatility 2014nasdaq composite index", "16% ( 16 % )", "14% ( 14 % )", "15% ( 15 % )" ], [ "expected term", "2.8 years", "2.8 years", "2.8 years" ], [ "correlation factor", "0.65", "0.60", "0.70" ] ]

[ { "arg1": "16", "arg2": "14", "op": "minus2-1", "res": "2" }, { "arg1": "#0", "arg2": "14", "op": "divide2-2", "res": "14.3%" } ]

[ "credit facilities .", "as such , our foreign cash and cash equivalents are not expected to be a key source of liquidity to our domestic operations .", "at september 30 , 2019 , we had approximately $ 2.9 billion of availability under our committed credit facilities , primarily under our revolving credit facility , the majority of which matures on july 1 , 2022 .", "this liquidity may be used to provide for ongoing working capital needs and for other general corporate purposes , including acquisitions , dividends and stock repurchases .", "certain restrictive covenants govern our maximum availability under the credit facilities .", "we test and report our compliance with these covenants as required and we were in compliance with all of these covenants at september 30 , 2019 .", "at september 30 , 2019 , we had $ 129.8 million of outstanding letters of credit not drawn cash and cash equivalents were $ 151.6 million at september 30 , 2019 and $ 636.8 million at september 30 , 2018 .", "we used a significant portion of the cash and cash equivalents on hand at september 30 , 2018 in connection with the closing of the kapstone acquisition .", "primarily all of the cash and cash equivalents at september 30 , 2019 were held outside of the u.s .", "at september 30 , 2019 , total debt was $ 10063.4 million , $ 561.1 million of which was current .", "at september 30 , 2018 , total debt was $ 6415.2 million , $ 740.7 million of which was current .", "the increase in debt was primarily related to the kapstone acquisition .", "cash flow activity ." ]

[ "net cash provided by operating activities during fiscal 2019 increased $ 379.0 million from fiscal 2018 primarily due to higher cash earnings and a $ 340.3 million net decrease in the use of working capital compared to the prior year .", "as a result of the retrospective adoption of asu 2016-15 and asu 2016-18 ( each as hereinafter defined ) as discussed in 201cnote 1 .", "description of business and summary of significant accounting policies 201d of the notes to consolidated financial statements , net cash provided by operating activities for fiscal 2018 was reduced by $ 489.7 million and cash provided by investing activities increased $ 483.8 million , primarily for the change in classification of proceeds received for beneficial interests obtained for transferring trade receivables in securitization transactions .", "net cash used for investing activities of $ 4579.6 million in fiscal 2019 consisted primarily of $ 3374.2 million for cash paid for the purchase of businesses , net of cash acquired ( excluding the assumption of debt ) , primarily related to the kapstone acquisition , and $ 1369.1 million for capital expenditures that were partially offset by $ 119.1 million of proceeds from the sale of property , plant and equipment primarily related to the sale of our atlanta beverage facility , $ 33.2 million of proceeds from corporate owned life insurance benefits and $ 25.5 million of proceeds from property , plant and equipment insurance proceeds related to the panama city , fl mill .", "net cash used for investing activities of $ 815.1 million in fiscal 2018 consisted primarily of $ 999.9 million for capital expenditures , $ 239.9 million for cash paid for the purchase of businesses , net of cash acquired primarily related to the plymouth acquisition and the schl fcter acquisition , and $ 108.0 million for an investment in grupo gondi .", "these investments were partially offset by $ 461.6 million of cash receipts on sold trade receivables as a result of the adoption of asu 2016-15 , $ 24.0 million of proceeds from the sale of certain affiliates as well as our solid waste management brokerage services business and $ 23.3 million of proceeds from the sale of property , plant and equipment .", "in fiscal 2019 , net cash provided by financing activities of $ 1780.2 million consisted primarily of a net increase in debt of $ 2314.6 million , primarily related to the kapstone acquisition and partially offset by cash dividends paid to stockholders of $ 467.9 million and purchases of common stock of $ 88.6 million .", "in fiscal 2018 , net cash used for financing activities of $ 755.1 million consisted primarily of cash dividends paid to stockholders of $ 440.9 million and purchases of common stock of $ 195.1 million and net repayments of debt of $ 120.1 million. ." ]

[ [ "", "Year Ended September 30," ], [ "(In millions)", "2019", "2018" ], [ "Net cash provided by operating activities", "$2,310.2", "$1,931.2" ], [ "Net cash used for investing activities", "$(4,579.6)", "$(815.1)" ], [ "Net cash provided by (used for) financing activities", "$1,780.2", "$(755.1)" ] ]

[ [ "( in millions )", "year ended september 30 , 2019", "year ended september 30 , 2018" ], [ "net cash provided by operating activities", "$ 2310.2", "$ 1931.2" ], [ "net cash used for investing activities", "$ -4579.6 ( 4579.6 )", "$ -815.1 ( 815.1 )" ], [ "net cash provided by ( used for ) financing activities", "$ 1780.2", "$ -755.1 ( 755.1 )" ] ]

[]

[ "56 / 57 management 2019s discussion and analysis of financial condition and results of operations junior subordinate deferrable interest debentures in june 2005 , we issued $ 100.0 a0million of trust preferred securities , which are reflected on the balance sheet as junior subordinate deferrable interest debentures .", "the proceeds were used to repay our revolving credit facility .", "the $ 100.0 a0million of junior subordi- nate deferrable interest debentures have a 30-year term ending july 2035 .", "they bear interest at a fixed rate of 5.61% ( 5.61 % ) for the first 10 years ending july 2015 .", "thereafter , the rate will float at three month libor plus 1.25% ( 1.25 % ) .", "the securities are redeemable at par .", "restrictive covenants the terms of the 2011 revolving credit facility and certain of our senior unsecured notes include certain restrictions and covenants which may limit , among other things , our ability to pay dividends ( as discussed below ) , make certain types of investments , incur additional indebtedness , incur liens and enter into negative pledge agreements and the disposition of assets , and which require compliance with financial ratios including our minimum tangible net worth , a maximum ratio of total indebtedness to total asset value , a minimum ratio of ebitda to fixed charges and a maximum ratio of unsecured indebtedness to unencumbered asset value .", "the dividend restriction referred to above provides that we will not during any time when we are in default , make distributions with respect to common stock or other equity interests , except to enable us to continue to qualify as a reit for federal income tax purposes .", "as of december a031 , 2011 and 2010 , we were in compli- ance with all such covenants .", "market rate risk we are exposed to changes in interest rates primarily from our floating rate borrowing arrangements .", "we use interest rate deriv- ative instruments to manage exposure to interest rate changes .", "a a0hypothetical 100 a0basis point increase in interest rates along the entire interest rate curve for 2011 and 2010 , would increase our annual interest cost by approximately $ 12.3 a0million and $ 11.0 a0mil- lion and would increase our share of joint venture annual interest cost by approximately $ 4.8 a0million and $ 6.7 a0million , respectively .", "we recognize all derivatives on the balance sheet at fair value .", "derivatives that are not hedges must be adjusted to fair value through income .", "if a derivative is a hedge , depending on the nature of the hedge , changes in the fair value of the derivative will either be offset against the change in fair value of the hedged asset , liability , or firm commitment through earnings , or recognized in other comprehensive income until the hedged item is recognized in earnings .", "the ineffective portion of a derivative 2019s change in fair value is recognized immediately in earnings .", "approximately $ 4.8 a0billion of our long- term debt bore interest a0at fixed rates , and therefore the fair value of these instru- ments is affected by changes in the market interest rates .", "the interest rate on our variable rate debt and joint venture debt as of december a031 , 2011 ranged from libor plus 150 a0basis points to libor plus 350 a0basis points .", "contractual obligations combined aggregate principal maturities of mortgages and other loans payable , our 2011 revolving credit facility , senior unsecured notes ( net of discount ) , trust preferred securities , our share of joint venture debt , including as- of-right extension options , estimated interest expense ( based on weighted average interest rates for the quarter ) , and our obligations under our capital lease and ground leases , as of december a031 , 2011 are as follows ( in thousands ) : ." ]

[ "." ]

[ [ "", "2012", "2013", "2014", "2015", "2016", "Thereafter", "Total" ], [ "Property Mortgages", "$52,443", "$568,649", "$647,776", "$270,382", "$556,400", "$2,278,190", "$4,373,840" ], [ "Revolving Credit Facility", "—", "—", "—", "—", "350,000", "—", "350,000" ], [ "Trust Preferred Securities", "—", "—", "—", "—", "—", "100,000", "100,000" ], [ "Senior Unsecured Notes", "119,423", "—", "98,578", "657", "274,804", "777,194", "1,270,656" ], [ "Capital lease", "1,555", "1,555", "1,555", "1,592", "1,707", "42,351", "50,315" ], [ "Ground leases", "33,429", "33,429", "33,429", "33,429", "33,533", "615,450", "782,699" ], [ "Estimated interest expense", "312,672", "309,280", "269,286", "244,709", "212,328", "470,359", "1,818,634" ], [ "Joint venture debt", "176,457", "93,683", "123,983", "102,476", "527,814", "800,102", "1,824,515" ], [ "Total", "$695,979", "$1,006,596", "$1,174,607", "$653,245", "$1,956,586", "$5,083,646", "$10,570,659" ] ]

[ [ "", "2012", "2013", "2014", "2015", "2016", "thereafter", "total" ], [ "property mortgages", "$ 52443", "$ 568649", "$ 647776", "$ 270382", "$ 556400", "$ 2278190", "$ 4373840" ], [ "revolving credit facility", "2014", "2014", "2014", "2014", "350000", "2014", "350000" ], [ "trust preferred securities", "2014", "2014", "2014", "2014", "2014", "100000", "100000" ], [ "senior unsecured notes", "119423", "2014", "98578", "657", "274804", "777194", "1270656" ], [ "capital lease", "1555", "1555", "1555", "1592", "1707", "42351", "50315" ], [ "ground leases", "33429", "33429", "33429", "33429", "33533", "615450", "782699" ], [ "estimated interest expense", "312672", "309280", "269286", "244709", "212328", "470359", "1818634" ], [ "joint venture debt", "176457", "93683", "123983", "102476", "527814", "800102", "1824515" ], [ "total", "$ 695979", "$ 1006596", "$ 1174607", "$ 653245", "$ 1956586", "$ 5083646", "$ 10570659" ] ]

[ { "arg1": "176457", "arg2": "93683", "op": "add1-1", "res": "270140" }, { "arg1": "#0", "arg2": "123983", "op": "add1-2", "res": "394123" }, { "arg1": "#1", "arg2": "102476", "op": "add1-3", "res": "496599" }, { "arg1": "#2", "arg2": "527814", "op": "add1-4", "res": "1024413" }, { "arg1": "#3", "arg2": "800102", "op": "minus1-5", "res": "224311" } ]

[ "entergy texas , inc .", "management's financial discussion and analysis net revenue 2008 compared to 2007 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges .", "following is an analysis of the change in net revenue comparing 2008 to 2007 .", "amount ( in millions ) ." ]

[ "the volume/weather variance is primarily due to decreased usage during the unbilled sales period .", "see \"critical accounting estimates\" below and note 1 to the financial statements for further discussion of the accounting for unbilled revenues .", "the reserve equalization variance is primarily due to lower reserve equalization revenue related to changes in the entergy system generation mix compared to the same period in 2007 .", "the securitization transition charge variance is primarily due to the issuance of securitization bonds .", "in june 2007 , entergy gulf states reconstruction funding i , a company wholly-owned and consolidated by entergy texas , issued securitization bonds and with the proceeds purchased from entergy texas the transition property , which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds .", "see note 5 to the financial statements for additional information regarding the securitization bonds .", "the fuel recovery variance is primarily due to a reserve for potential rate refunds made in the first quarter 2007 as a result of a puct ruling related to the application of past puct rulings addressing transition to competition in texas .", "the other variance is primarily caused by various operational effects of the jurisdictional separation on revenues and fuel and purchased power expenses .", "gross operating revenues , fuel and purchased power expenses , and other regulatory charges gross operating revenues increased $ 229.3 million primarily due to the following reasons : an increase of $ 157 million in fuel cost recovery revenues due to higher fuel rates and increased usage , partially offset by interim fuel refunds to customers for fuel cost recovery over-collections through november 2007 .", "the refund was distributed over a two-month period beginning february 2008 .", "the interim refund and the puct approval is discussed in note 2 to the financial statements ; an increase of $ 37.1 million in affiliated wholesale revenue primarily due to increases in the cost of energy ; an increase in transition charge amounts collected from customers to service the securitization bonds as discussed above .", "see note 5 to the financial statements for additional information regarding the securitization bonds ; and implementation of an interim surcharge to collect $ 10.3 million in under-recovered incremental purchased capacity costs incurred through july 2007 .", "the surcharge was collected over a two-month period beginning february 2008 .", "the incremental capacity recovery rider and puct approval is discussed in note 2 to the financial statements. ." ]

[ [ "", "Amount (In Millions)" ], [ "2007 net revenue", "$442.3" ], [ "Volume/weather", "(4.6)" ], [ "Reserve equalization", "(3.3)" ], [ "Securitization transition charge", "9.1" ], [ "Fuel recovery", "7.5" ], [ "Other", "(10.1)" ], [ "2008 net revenue", "$440.9" ] ]

[ [ "", "amount ( in millions )" ], [ "2007 net revenue", "$ 442.3" ], [ "volume/weather", "-4.6 ( 4.6 )" ], [ "reserve equalization", "-3.3 ( 3.3 )" ], [ "securitization transition charge", "9.1" ], [ "fuel recovery", "7.5" ], [ "other", "-10.1 ( 10.1 )" ], [ "2008 net revenue", "$ 440.9" ] ]

[]

[ "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 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 commingled equity funds 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 .", "fixed income investments categorized as level 2 are valued by the trustee using pricing models that use verifiable observable market data ( e.g. , interest rates and yield curves observable at commonly quoted intervals and credit spreads ) , bids provided by brokers or dealers or quoted prices of securities with similar characteristics .", "fixed income investments are categorized as level 3 when valuations using observable inputs are unavailable .", "the trustee typically obtains pricing based on indicative quotes or bid evaluations from vendors , brokers or the investment manager .", "in addition , certain other fixed income investments categorized as level 3 are valued using a discounted cash flow approach .", "significant inputs include projected annuity payments and the discount rate applied to those payments .", "certain commingled equity funds , consisting of equity mutual funds , are valued using the nav .", "the nav valuations are based on the underlying investments and typically redeemable within 90 days .", "private equity funds consist of partnership and co-investment funds .", "the nav is based on valuation models of the underlying securities , which includes unobservable inputs that cannot be corroborated using verifiable observable market data .", "these funds typically have redemption periods between eight and 12 years .", "real estate funds consist of partnerships , most of which are closed-end funds , for which the nav is based on valuation models and periodic appraisals .", "these funds typically have redemption periods between eight and 10 years .", "hedge funds consist of direct hedge funds for which the nav is generally based on the valuation of the underlying investments .", "redemptions in hedge funds are based on the specific terms of each fund , and generally range from a minimum of one month to several months .", "contributions and expected benefit payments the funding of our qualified defined benefit pension plans is determined in accordance with erisa , as amended by the ppa , and in a manner consistent with cas and internal revenue code rules .", "we made contributions of $ 5.0 billion to our qualified defined benefit pension plans in 2018 , including required and discretionary contributions .", "as a result of these contributions , we do not expect to make contributions to our qualified defined benefit pension plans in 2019 .", "the following table presents estimated future benefit payments , which reflect expected future employee service , as of december 31 , 2018 ( 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 $ 658 million in 2018 , $ 613 million in 2017 and $ 617 million in 2016 , the majority of which were funded using our common stock .", "our defined contribution plans held approximately 33.3 million and 35.5 million shares of our common stock as of december 31 , 2018 and 2017. ." ]

[ [ "", "2019", "2020", "2021", "2022", "2023", "2024 – 2028" ], [ "Qualified defined benefit pension plans", "$2,350", "$2,390", "$2,470", "$2,550", "$2,610", "$13,670" ], [ "Retiree medical and life insurance plans", "170", "180", "180", "180", "170", "810" ] ]

[ [ "", "2019", "2020", "2021", "2022", "2023", "2024 2013 2028" ], [ "qualified defined benefit pension plans", "$ 2350", "$ 2390", "$ 2470", "$ 2550", "$ 2610", "$ 13670" ], [ "retiree medical and life insurance plans", "170", "180", "180", "180", "170", "810" ] ]

[ { "arg1": "658", "arg2": "613", "op": "minus1-1", "res": "45" }, { "arg1": "#0", "arg2": "613", "op": "divide1-2", "res": "7.3%" } ]

[ "6 .", "restricted cash sysco is required by its insurers to collateralize a part of the self-insured portion of its workers 2019 compensation and liability claims .", "sysco has chosen to satisfy these collateral requirements by depositing funds in insurance trusts or by issuing letters of credit .", "in addition , for certain acquisitions , sysco has placed funds into escrow to be disbursed to the sellers in the event that specified operating results are attained or contingencies are resolved .", "escrowed funds related to certain acquisitions in the amount of $ 1700000 were released during fiscal 2006 , which included $ 800000 that was disbursed to sellers .", "a summary of restricted cash balances appears below: ." ]

[ "funds deposited in insurance trusts************************************** $ 82653000 $ 80410000 escrow funds related to acquisitions ************************************* 19621000 21321000 total************************************************************* $ 102274000 $ 101731000 7 .", "derivative financial instruments sysco manages its debt portfolio by targeting an overall desired position of fixed and floating rates and may employ interest rate swaps from time to time to achieve this goal .", "the company does not use derivative financial instruments for trading or speculative purposes .", "during fiscal years 2003 , 2004 and 2005 , the company entered into various interest rate swap agreements designated as fair value hedges of the related debt .", "the terms of these swap agreements and the hedged items were such that the hedges were considered perfectly effective against changes in the fair value of the debt due to changes in the benchmark interest rates over their terms .", "as a result , the shortcut method provided by sfas no .", "133 , 2018 2018accounting for derivative instruments and hedging activities , 2019 2019 was applied and there was no need to periodically reassess the effectiveness of the hedges during the terms of the swaps .", "interest expense on the debt was adjusted to include payments made or received under the hedge agreements .", "the fair value of the swaps was carried as an asset or a liability on the consolidated balance sheet and the carrying value of the hedged debt was adjusted accordingly .", "there were no fair value hedges outstanding as of july 1 , 2006 or july 2 , 2005 .", "the amount received upon termination of fair value hedge swap agreements was $ 5316000 and $ 1305000 in fiscal years 2005 and 2004 , respectively .", "there were no terminations of fair value hedge swap agreements in fiscal 2006 .", "the amount received upon termination of swap agreements is reflected as an increase in the carrying value of the related debt to reflect its fair value at termination .", "this increase in the carrying value of the debt is amortized as a reduction of interest expense over the remaining term of the debt .", "in march 2005 , sysco entered into a forward-starting interest rate swap with a notional amount of $ 350000000 .", "in accordance with sfas no .", "133 , the company designated this derivative as a cash flow hedge of the variability in the cash outflows of interest payments on $ 350000000 of the september 2005 forecasted debt issuance due to changes in the benchmark interest rate .", "the fair value of the swap as of july 2 , 2005 was ( $ 32584000 ) , which is reflected in accrued expenses on the consolidated balance sheet , with the corresponding amount reflected as a loss , net of tax , in other comprehensive income ( loss ) .", "in september 2005 , in conjunction with the issuance of the 5.375% ( 5.375 % ) senior notes , sysco settled the $ 350000000 notional amount forward-starting interest rate swap .", "upon settlement , sysco paid cash of $ 21196000 , which represented the fair value of the swap agreement at the time of settlement .", "this amount is being amortized as interest expense over the 30-year term of the debt , and the unamortized balance is reflected as a loss , net of tax , in other comprehensive income ( loss ) .", "in the normal course of business , sysco enters into forward purchase agreements for the procurement of fuel , electricity and product commodities related to sysco 2019s business .", "certain of these agreements meet the definition of a derivative and qualify for the normal purchase and sale exemption under relevant accounting literature .", "the company has elected to use this exemption for these agreements and thus they are not recorded at fair value .", "%%transmsg*** transmitting job : h39408 pcn : 046000000 *** %%pcmsg|44 |00010|yes|no|09/06/2006 17:22|0|1|page is valid , no graphics -- color : n| ." ]

[ [ "", "July 1, 2006", "July 2, 2005" ], [ "Funds deposited in insurance trusts", "$82,653,000", "$80,410,000" ], [ "Escrow funds related to acquisitions", "19,621,000", "21,321,000" ], [ "Total", "$102,274,000", "$101,731,000" ] ]

[ [ "", "july 1 2006", "july 2 2005" ], [ "funds deposited in insurance trusts", "$ 82653000", "$ 80410000" ], [ "escrow funds related to acquisitions", "19621000", "21321000" ], [ "total", "$ 102274000", "$ 101731000" ] ]

[]

[ "part i item 1 entergy corporation , utility operating companies , and system energy including the continued effectiveness of the clean energy standards/zero emissions credit program ( ces/zec ) , the establishment of certain long-term agreements on acceptable terms with the energy research and development authority of the state of new york in connection with the ces/zec program , and nypsc approval of the transaction on acceptable terms , entergy refueled the fitzpatrick plant in january and february 2017 .", "in october 2015 , entergy determined that it would close the pilgrim plant .", "the decision came after management 2019s extensive analysis of the economics and operating life of the plant following the nrc 2019s decision in september 2015 to place the plant in its 201cmultiple/repetitive degraded cornerstone column 201d ( column 4 ) of its reactor oversight process action matrix .", "the pilgrim plant is expected to cease operations on may 31 , 2019 , after refueling in the spring of 2017 and operating through the end of that fuel cycle .", "in december 2015 , entergy wholesale commodities closed on the sale of its 583 mw rhode island state energy center ( risec ) , in johnston , rhode island .", "the base sales price , excluding adjustments , was approximately $ 490 million .", "entergy wholesale commodities purchased risec for $ 346 million in december 2011 .", "in december 2016 , entergy announced that it reached an agreement with consumers energy to terminate the ppa for the palisades plant on may 31 , 2018 .", "pursuant to the ppa termination agreement , consumers energy will pay entergy $ 172 million for the early termination of the ppa .", "the ppa termination agreement is subject to regulatory approvals .", "separately , and assuming regulatory approvals are obtained for the ppa termination agreement , entergy intends to shut down the palisades nuclear power plant permanently on october 1 , 2018 , after refueling in the spring of 2017 and operating through the end of that fuel cycle .", "entergy expects to enter into a new ppa with consumers energy under which the plant would continue to operate through october 1 , 2018 .", "in january 2017 , entergy announced that it reached a settlement with new york state to shut down indian point 2 by april 30 , 2020 and indian point 3 by april 30 , 2021 , and resolve all new york state-initiated legal challenges to indian point 2019s operating license renewal .", "as part of the settlement , new york state has agreed to issue indian point 2019s water quality certification and coastal zone management act consistency certification and to withdraw its objection to license renewal before the nrc .", "new york state also has agreed to issue a water discharge permit , which is required regardless of whether the plant is seeking a renewed nrc license .", "the shutdowns are conditioned , among other things , upon such actions being taken by new york state .", "even without opposition , the nrc license renewal process is expected to continue at least into 2018 .", "with the settlement concerning indian point , entergy now has announced plans for the disposition of all of the entergy wholesale commodities nuclear power plants , including the sales of vermont yankee and fitzpatrick , and the earlier than previously expected shutdowns of pilgrim , palisades , indian point 2 , and indian point 3 .", "see 201centergy wholesale commodities exit from the merchant power business 201d for further discussion .", "property nuclear generating stations entergy wholesale commodities includes the ownership of the following nuclear power plants : power plant market service year acquired location capacity - reactor type license expiration ." ]

[ "." ]

[ [ "Power Plant", "Market", "In Service Year", "Acquired", "Location", "Capacity - Reactor Type", "License Expiration Date" ], [ "Pilgrim (a)", "IS0-NE", "1972", "July 1999", "Plymouth, MA", "688 MW - Boiling Water", "2032 (a)" ], [ "FitzPatrick (b)", "NYISO", "1975", "Nov. 2000", "Oswego, NY", "838 MW - Boiling Water", "2034 (b)" ], [ "Indian Point 3 (c)", "NYISO", "1976", "Nov. 2000", "Buchanan, NY", "1,041 MW - Pressurized Water", "2015 (c)" ], [ "Indian Point 2 (c)", "NYISO", "1974", "Sept. 2001", "Buchanan, NY", "1,028 MW - Pressurized Water", "2013 (c)" ], [ "Vermont Yankee (d)", "IS0-NE", "1972", "July 2002", "Vernon, VT", "605 MW - Boiling Water", "2032 (d)" ], [ "Palisades (e)", "MISO", "1971", "Apr. 2007", "Covert, MI", "811 MW - Pressurized Water", "2031 (e)" ] ]

[ [ "power plant", "market", "in service year", "acquired", "location", "capacity - reactor type", "license expiration date" ], [ "pilgrim ( a )", "is0-ne", "1972", "july 1999", "plymouth ma", "688 mw - boiling water", "2032 ( a )" ], [ "fitzpatrick ( b )", "nyiso", "1975", "nov . 2000", "oswego ny", "838 mw - boiling water", "2034 ( b )" ], [ "indian point 3 ( c )", "nyiso", "1976", "nov . 2000", "buchanan ny", "1041 mw - pressurized water", "2015 ( c )" ], [ "indian point 2 ( c )", "nyiso", "1974", "sept . 2001", "buchanan ny", "1028 mw - pressurized water", "2013 ( c )" ], [ "vermont yankee ( d )", "is0-ne", "1972", "july 2002", "vernon vt", "605 mw - boiling water", "2032 ( d )" ], [ "palisades ( e )", "miso", "1971", "apr . 2007", "covert mi", "811 mw - pressurized water", "2031 ( e )" ] ]

[]

[ "on a regular basis our special asset committee closely monitors loans , primarily commercial loans , that are not included in the nonperforming or accruing past due categories and for which we are uncertain about the borrower 2019s ability to comply with existing repayment terms .", "these loans totaled $ .2 billion at both december 31 , 2014 and december 31 , 2013 .", "home equity loan portfolio our home equity loan portfolio totaled $ 34.7 billion as of december 31 , 2014 , or 17% ( 17 % ) of the total loan portfolio .", "of that total , $ 20.4 billion , or 59% ( 59 % ) , was outstanding under primarily variable-rate home equity lines of credit and $ 14.3 billion , or 41% ( 41 % ) , consisted of closed-end home equity installment loans .", "approximately 3% ( 3 % ) of the home equity portfolio was on nonperforming status as of december 31 , 2014 .", "as of december 31 , 2014 , we are in an originated first lien position for approximately 51% ( 51 % ) of the total portfolio and , where originated as a second lien , we currently hold or service the first lien position for approximately an additional 2% ( 2 % ) of the portfolio .", "the remaining 47% ( 47 % ) of the portfolio was secured by second liens where we do not hold the first lien position .", "the credit performance of the majority of the home equity portfolio where we are in , hold or service the first lien position , is superior to the portion of the portfolio where we hold the second lien position but do not hold the first lien .", "lien position information is generally based upon original ltv at the time of origination .", "however , after origination pnc is not typically notified when a senior lien position that is not held by pnc is satisfied .", "therefore , information about the current lien status of junior lien loans is less readily available in cases where pnc does not also hold the senior lien .", "additionally , pnc is not typically notified when a junior lien position is added after origination of a pnc first lien .", "this updated information for both junior and senior liens must be obtained from external sources , and therefore , pnc has contracted with an industry-leading third-party service provider to obtain updated loan , lien and collateral data that is aggregated from public and private sources .", "we track borrower performance monthly , including obtaining original ltvs , updated fico scores at least quarterly , updated ltvs semi-annually , and other credit metrics at least quarterly , including the historical performance of any mortgage loans regardless of lien position that we do or do not hold .", "this information is used for internal reporting and risk management .", "for internal reporting and risk management we also segment the population into pools based on product type ( e.g. , home equity loans , brokered home equity loans , home equity lines of credit , brokered home equity lines of credit ) .", "as part of our overall risk analysis and monitoring , we segment the home equity portfolio based upon the delinquency , modification status and bankruptcy status of these loans , as well as the delinquency , modification status and bankruptcy status of any mortgage loan with the same borrower ( regardless of whether it is a first lien senior to our second lien ) .", "in establishing our alll for non-impaired loans , we primarily utilize a delinquency roll-rate methodology for pools of loans .", "in accordance with accounting principles , under this methodology , we establish our allowance based upon incurred losses , not lifetime expected losses .", "the roll-rate methodology estimates transition/roll of loan balances from one delinquency state ( e.g. , 30-59 days past due ) to another delinquency state ( e.g. , 60-89 days past due ) and ultimately to charge-off .", "the roll through to charge-off is based on pnc 2019s actual loss experience for each type of pool .", "each of our home equity pools contains both first and second liens .", "our experience has been that the ratio of first to second lien loans has been consistent over time and the charge-off amounts for the pools , used to establish our allowance , include losses on both first and second liens loans .", "generally , our variable-rate home equity lines of credit have either a seven or ten year draw period , followed by a 20-year amortization term .", "during the draw period , we have home equity lines of credit where borrowers pay either interest or principal and interest .", "we view home equity lines of credit where borrowers are paying principal and interest under the draw period as less risky than those where the borrowers are paying interest only , as these borrowers have a demonstrated ability to make some level of principal and interest payments .", "the risk associated with the borrower 2019s ability to satisfy the loan terms upon the draw period ending is considered in establishing our alll .", "based upon outstanding balances at december 31 , 2014 , the following table presents the periods when home equity lines of credit draw periods are scheduled to end .", "table 36 : home equity lines of credit 2013 draw period end in millions interest only product principal and interest product ." ]

[ "( a ) includes all home equity lines of credit that mature in 2015 or later , including those with borrowers where we have terminated borrowing privileges .", "( b ) includes approximately $ 154 million , $ 48 million , $ 57 million , $ 42 million and $ 564 million of home equity lines of credit with balloon payments , including those where we have terminated borrowing privileges , with draw periods scheduled to end in 2015 , 2016 , 2017 , 2018 and 2019 and thereafter , respectively .", "76 the pnc financial services group , inc .", "2013 form 10-k ." ]

[ [ "In millions", "Interest OnlyProduct", "Principal andInterest Product" ], [ "2015", "$1,597", "$541" ], [ "2016", "1,366", "437" ], [ "2017", "2,434", "596" ], [ "2018", "1,072", "813" ], [ "2019 and thereafter", "3,880", "5,391" ], [ "Total (a)(b)", "$10,349", "$7,778" ] ]

[ [ "in millions", "interest onlyproduct", "principal andinterest product" ], [ "2015", "$ 1597", "$ 541" ], [ "2016", "1366", "437" ], [ "2017", "2434", "596" ], [ "2018", "1072", "813" ], [ "2019 and thereafter", "3880", "5391" ], [ "total ( a ) ( b )", "$ 10349", "$ 7778" ] ]

[ { "arg1": "34.7", "arg2": "17", "op": "divide1-1", "res": "2.04" }, { "arg1": "#0", "arg2": "const_100", "op": "multiply1-2", "res": "204" } ]

[ "exchanged installment notes totaling approximately $ 4.8 billion and approximately $ 400 million of inter- national paper promissory notes for interests in enti- ties formed to monetize the notes .", "international paper determined that it was not the primary benefi- ciary of these entities , and therefore should not consolidate its investments in these entities .", "during 2006 , these entities acquired an additional $ 4.8 bil- lion of international paper debt securities for cash , resulting in a total of approximately $ 5.2 billion of international paper debt obligations held by these entities at december 31 , 2006 .", "since international paper has , and intends to affect , a legal right to offset its obligations under these debt instruments with its investments in the entities , international paper has offset $ 5.0 billion of interest in the entities against $ 5.0 billion of international paper debt obligations held by the entities as of december 31 , 2007 .", "international paper also holds variable interests in two financing entities that were used to monetize long-term notes received from sales of forestlands in 2002 and 2001 .", "see note 8 of the notes to consolidated financial statements in item 8 .", "financial statements and supplementary data for a further discussion of these transactions .", "capital resources outlook for 2008 international paper expects to be able to meet pro- jected capital expenditures , service existing debt and meet working capital and dividend requirements during 2008 through current cash balances and cash from operations , supplemented as required by its various existing credit facilities .", "international paper has approximately $ 2.5 billion of committed bank credit agreements , which management believes is adequate to cover expected operating cash flow variability during our industry 2019s economic cycles .", "the agreements generally provide for interest rates at a floating rate index plus a pre-determined margin dependent upon international paper 2019s credit rating .", "the agreements include a $ 1.5 billion fully commit- ted revolving bank credit agreement that expires in march 2011 and has a facility fee of 0.10% ( 0.10 % ) payable quarterly .", "these agreements also include up to $ 1.0 billion of available commercial paper-based financ- ings under a receivables securitization program that expires in october 2009 with a facility fee of 0.10% ( 0.10 % ) .", "at december 31 , 2007 , there were no borrowings under either the bank credit agreements or receiv- ables securitization program .", "the company will continue to rely upon debt and capital markets for the majority of any necessary long-term funding not provided by operating cash flows .", "funding decisions will be guided by our capi- tal structure planning objectives .", "the primary goals of the company 2019s capital structure planning are to maximize financial flexibility and preserve liquidity while reducing interest expense .", "the majority of international paper 2019s debt is accessed through global public capital markets where we have a wide base of investors .", "the company was in compliance with all its debt covenants at december 31 , 2007 .", "principal financial covenants include maintenance of a minimum net worth , defined as the sum of common stock , paid-in capital and retained earnings , less treasury stock , plus any goodwill impairment charges , of $ 9 billion ; and a maximum total debt to capital ratio , defined as total debt divided by total debt plus net worth , of 60% ( 60 % ) .", "maintaining an investment grade credit rating is an important element of international paper 2019s financing strategy .", "at december 31 , 2007 , the company held long-term credit ratings of bbb ( stable outlook ) and baa3 ( stable outlook ) by standard & poor 2019s ( s&p ) and moody 2019s investor services ( moody 2019s ) , respectively .", "the company currently has short-term credit ratings by s&p and moody 2019s of a-2 and p-3 , respectively .", "contractual obligations for future payments under existing debt and lease commitments and purchase obligations at december 31 , 2007 , were as follows : in millions 2008 2009 2010 2011 2012 thereafter maturities of long-term debt ( a ) $ 267 $ 1300 $ 1069 $ 396 $ 532 $ 3056 debt obligations with right of offset ( b ) 2013 2013 2013 2013 2013 5000 ." ]

[ "( a ) total debt includes scheduled principal payments only .", "( b ) represents debt obligations borrowed from non-consolidated variable interest entities for which international paper has , and intends to affect , a legal right to offset these obligations with investments held in the entities .", "accordingly , in its con- solidated balance sheet at december 31 , 2007 , international paper has offset approximately $ 5.0 billion of interests in the entities against this $ 5.0 billion of debt obligations held by the entities ( see note 8 in the accompanying consolidated financial statements ) .", "( c ) includes $ 2.1 billion relating to fiber supply agreements entered into at the time of the transformation plan forestland sales .", "( d ) not included in the above table are unrecognized tax benefits of approximately $ 280 million. ." ]

[ [ "<i>In millions</i>", "2008", "2009", "2010", "2011", "2012", "Thereafter" ], [ "Maturities of long-term debt (a)", "$267", "$1,300", "$1,069", "$396", "$532", "$3,056" ], [ "Debt obligations with right of offset (b)", "–", "–", "–", "–", "–", "5,000" ], [ "Lease obligations", "136", "116", "101", "84", "67", "92" ], [ "Purchase obligations (c)", "1,953", "294", "261", "235", "212", "1,480" ], [ "Total (d)", "$2,356", "$1,710", "$1,431", "$715", "$811", "$9,628" ] ]

[ [ "in millions", "2008", "2009", "2010", "2011", "2012", "thereafter" ], [ "maturities of long-term debt ( a )", "$ 267", "$ 1300", "$ 1069", "$ 396", "$ 532", "$ 3056" ], [ "debt obligations with right of offset ( b )", "2013", "2013", "2013", "2013", "2013", "5000" ], [ "lease obligations", "136", "116", "101", "84", "67", "92" ], [ "purchase obligations ( c )", "1953", "294", "261", "235", "212", "1480" ], [ "total ( d )", "$ 2356", "$ 1710", "$ 1431", "$ 715", "$ 811", "$ 9628" ] ]

[]

[ "in summary , our cash flows for each period were as follows: ." ]

[ "operating activities cash provided by operating activities is net income adjusted for certain non-cash items and changes in certain assets and liabilities .", "for 2013 compared to 2012 , the $ 1.9 billion increase in cash provided by operating activities was due to changes in working capital , partially offset by lower net income in 2013 .", "income taxes paid , net of refunds , in 2013 compared to 2012 were $ 1.1 billion lower due to lower income before taxes in 2013 and 2012 income tax overpayments .", "changes in assets and liabilities as of december 28 , 2013 , compared to december 29 , 2012 , included lower income taxes payable and receivable resulting from a reduction in taxes due in 2013 , and lower inventories due to the sell-through of older-generation products , partially offset by the ramp of 4th generation intel core processor family products .", "for 2013 , our three largest customers accounted for 44% ( 44 % ) of our net revenue ( 43% ( 43 % ) in 2012 and 2011 ) , with hewlett- packard company accounting for 17% ( 17 % ) of our net revenue ( 18% ( 18 % ) in 2012 and 19% ( 19 % ) in 2011 ) , dell accounting for 15% ( 15 % ) of our net revenue ( 14% ( 14 % ) in 2012 and 15% ( 15 % ) in 2011 ) , and lenovo accounting for 12% ( 12 % ) of our net revenue ( 11% ( 11 % ) in 2012 and 9% ( 9 % ) in 2011 ) .", "these three customers accounted for 34% ( 34 % ) of our accounts receivable as of december 28 , 2013 ( 33% ( 33 % ) as of december 29 , 2012 ) .", "for 2012 compared to 2011 , the $ 2.1 billion decrease in cash provided by operating activities was due to lower net income and changes in our working capital , partially offset by adjustments for non-cash items .", "the adjustments for noncash items were higher due primarily to higher depreciation in 2012 compared to 2011 , partially offset by increases in non-acquisition-related deferred tax liabilities as of december 31 , 2011 .", "investing activities investing cash flows consist primarily of capital expenditures ; investment purchases , sales , maturities , and disposals ; as well as cash used for acquisitions .", "the increase in cash used for investing activities in 2013 compared to 2012 was primarily due to an increase in purchases of available-for-sale investments and a decrease in maturities and sales of trading assets , partially offset by an increase in maturities and sales of available-for-sale investments and a decrease in purchases of licensed technology and patents .", "our capital expenditures were $ 10.7 billion in 2013 ( $ 11.0 billion in 2012 and $ 10.8 billion in 2011 ) .", "cash used for investing activities increased in 2012 compared to 2011 primarily due to net purchases of available- for-sale investments and trading assets in 2012 , as compared to net maturities and sales of available-for-sale investments and trading assets in 2011 , partially offset by a decrease in cash paid for acquisitions .", "net purchases of available-for-sale investments in 2012 included our purchase of $ 3.2 billion of equity securities in asml in q3 2012 .", "financing activities financing cash flows consist primarily of repurchases of common stock , payment of dividends to stockholders , issuance and repayment of long-term debt , and proceeds from the sale of shares through employee equity incentive plans .", "table of contents management 2019s discussion and analysis of financial condition and results of operations ( continued ) ." ]

[ [ "(In Millions)", "2013", "2012", "2011" ], [ "Net cash provided by operating activities", "$20,776", "$18,884", "$20,963" ], [ "Net cash used for investing activities", "(18,073)", "(14,060)", "(10,301)" ], [ "Net cash used for financing activities", "(5,498)", "(1,408)", "(11,100)" ], [ "Effect of exchange rate fluctuations on cash and cash equivalents", "(9)", "(3)", "5" ], [ "Net increase (decrease) in cash and cash equivalents", "$(2,804)", "$3,413", "$(433)" ] ]

[ [ "( in millions )", "2013", "2012", "2011" ], [ "net cash provided by operating activities", "$ 20776", "$ 18884", "$ 20963" ], [ "net cash used for investing activities", "-18073 ( 18073 )", "-14060 ( 14060 )", "-10301 ( 10301 )" ], [ "net cash used for financing activities", "-5498 ( 5498 )", "-1408 ( 1408 )", "-11100 ( 11100 )" ], [ "effect of exchange rate fluctuations on cash and cash equivalents", "-9 ( 9 )", "-3 ( 3 )", "5" ], [ "net increase ( decrease ) in cash and cash equivalents", "$ -2804 ( 2804 )", "$ 3413", "$ -433 ( 433 )" ] ]

[ { "arg1": "20776", "arg2": "18884", "op": "minus2-1", "res": "1892" }, { "arg1": "#0", "arg2": "18884", "op": "divide2-2", "res": "10%" } ]

[ "incremental contract start-up costs 2014large municipal contract .", "during 2018 and 2017 , we incurred costs of $ 5.7 million and $ 8.2 million , respectively , related to the implementation of a large municipal contract .", "these costs did not meet the capitalization criteria prescribed by the new revenue recognition standard .", "adoption of the tax act .", "the tax act was enacted on december 22 , 2017 .", "among other things , the tax act reduced the u.s .", "federal corporate tax rate from 35% ( 35 % ) to 21% ( 21 % ) .", "for the year ended december 31 , 2017 , we recorded provisional amounts based on our estimates of the tax act 2019s effect to our deferred taxes , uncertain tax positions , and one-time transition tax .", "these adjustments reduced our tax provision by $ 463.9 million .", "during 2018 , we adjusted the provisional amounts recorded as of december 31 , 2017 for the one-time transition tax , deferred taxes and uncertain tax positions .", "these adjustments increased our tax provision by $ 0.3 million .", "bridgeton insurance recovery , net .", "during 2018 , we collected an insurance recovery of $ 40.0 million related to our closed bridgeton landfill in missouri , which we recognized as a reduction of remediation expenses in our cost of operations .", "in addition , we incurred $ 12.0 million of incremental costs attributable to the bridgeton insurance recovery .", "recent developments 2019 financial guidance in 2019 , we will continue to focus on managing the controllable aspects of our business by enhancing the quality of our revenue , investing in profitable growth opportunities and reducing costs .", "our team remains focused on executing our strategy to deliver consistent earnings and free cash flow growth , and improve return on invested capital .", "we are committed to an efficient capital structure , maintaining our investment grade credit ratings and increasing cash returned to our shareholders .", "our guidance is based on current economic conditions and does not assume any significant changes in the overall economy in 2019 .", "specific guidance follows : revenue we expect 2019 revenue to increase by approximately 4.25 to 4.75% ( 4.75 % ) comprised of the following : increase ( decrease ) ." ]

[ "changes in price are restricted on approximately 50% ( 50 % ) of our annual service revenue .", "the majority of these restricted pricing arrangements are tied to fluctuations in a specific index ( primarily a consumer price index ) as defined in the contract .", "the consumer price index varies from a single historical stated period of time or an average of trailing historical rates over a stated period of time .", "in addition , the initial effect of pricing resets typically lags 6 to 12 months from the end of the index measurement period to the date the revised pricing goes into effect .", "as a result , current changes in a specific index may not manifest themselves in our reported pricing for several quarters into the future. ." ]

[ [ "", "Increase(Decrease)" ], [ "Average yield", "2.75%" ], [ "Volume", "0.0 to 0.25" ], [ "Energy services", "–" ], [ "Fuel recovery fees", "0.25" ], [ "Recycling processing and commodity sales", "0.25 to 0.5" ], [ "Acquisitions / divestitures, net", "1.0" ], [ "Total change", "4.25 to 4.75%" ] ]

[ [ "", "increase ( decrease )" ], [ "average yield", "2.75% ( 2.75 % )" ], [ "volume", "0.0 to 0.25" ], [ "energy services", "2013" ], [ "fuel recovery fees", "0.25" ], [ "recycling processing and commodity sales", "0.25 to 0.5" ], [ "acquisitions / divestitures net", "1.0" ], [ "total change", "4.25 to 4.75% ( 4.75 % )" ] ]

[]

[ "republic services , inc .", "notes to consolidated financial statements 2014 ( continued ) 12 .", "share repurchases and dividends share repurchases share repurchase activity during the years ended december 31 , 2018 and 2017 follows ( in millions except per share amounts ) : ." ]

[ "as of december 31 , 2018 , there were no repurchased shares pending settlement .", "in october 2017 , our board of directors added $ 2.0 billion to the existing share repurchase authorization that now extends through december 31 , 2020 .", "share repurchases under the program may be made through open market purchases or privately negotiated transactions in accordance with applicable federal securities laws .", "while the board of directors has approved the program , the timing of any purchases , the prices and the number of shares of common stock to be purchased will be determined by our management , at its discretion , and will depend upon market conditions and other factors .", "the share repurchase program may be extended , suspended or discontinued at any time .", "as of december 31 , 2018 , the remaining authorized purchase capacity under our october 2017 repurchase program was $ 1.1 billion .", "dividends in october 2018 , our board of directors approved a quarterly dividend of $ 0.375 per share .", "cash dividends declared were $ 468.4 million , $ 446.3 million and $ 423.8 million for the years ended december 31 , 2018 , 2017 and 2016 , respectively .", "as of december 31 , 2018 , we recorded a quarterly dividend payable of $ 121.0 million to shareholders of record at the close of business on january 2 , 2019 .", "13 .", "earnings per share basic earnings per share is computed by dividing net income attributable to republic services , inc .", "by the weighted average number of common shares ( including vested but unissued rsus ) outstanding during the period .", "diluted earnings per share is based on the combined weighted average number of common shares and common share equivalents outstanding , which include , where appropriate , the assumed exercise of employee stock options , unvested rsus and unvested psus at the expected attainment levels .", "we use the treasury stock method in computing diluted earnings per share. ." ]

[ [ "", "2018", "2017" ], [ "Number of shares repurchased", "10.7", "9.6" ], [ "Amount paid", "$736.9", "$610.7" ], [ "Weighted average cost per share", "$69.06", "$63.84" ] ]

[ [ "", "2018", "2017" ], [ "number of shares repurchased", "10.7", "9.6" ], [ "amount paid", "$ 736.9", "$ 610.7" ], [ "weighted average cost per share", "$ 69.06", "$ 63.84" ] ]

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[ "2018 emerson annual report | 51 as of september 30 , 2018 , 1874750 shares awarded primarily in 2016 were outstanding , contingent on the company achieving its performance objectives through 2018 .", "the objectives for these shares were met at the 97 percent level at the end of 2018 and 1818508 shares will be distributed in early 2019 .", "additionally , the rights to receive a maximum of 2261700 and 2375313 common shares were awarded in 2018 and 2017 , respectively , under the new performance shares program , and are outstanding and contingent upon the company achieving its performance objectives through 2020 and 2019 , respectively .", "incentive shares plans also include restricted stock awards which involve distribution of common stock to key management employees subject to cliff vesting at the end of service periods ranging from three to ten years .", "the fair value of restricted stock awards is determined based on the average of the high and low market prices of the company 2019s common stock on the date of grant , with compensation expense recognized ratably over the applicable service period .", "in 2018 , 310000 shares of restricted stock vested as a result of participants fulfilling the applicable service requirements .", "consequently , 167837 shares were issued while 142163 shares were withheld for income taxes in accordance with minimum withholding requirements .", "as of september 30 , 2018 , there were 1276200 shares of unvested restricted stock outstanding .", "the total fair value of shares distributed under incentive shares plans was $ 20 , $ 245 and $ 11 , respectively , in 2018 , 2017 and 2016 , of which $ 9 , $ 101 and $ 4 was paid in cash , primarily for tax withholding .", "as of september 30 , 2018 , 10.3 million shares remained available for award under incentive shares plans .", "changes in shares outstanding but not yet earned under incentive shares plans during the year ended september 30 , 2018 follow ( shares in thousands ; assumes 100 percent payout of unvested awards ) : average grant date shares fair value per share ." ]

[ "total compensation expense for stock options and incentive shares was $ 216 , $ 115 and $ 159 for 2018 , 2017 and 2016 , respectively , of which $ 5 and $ 14 was included in discontinued operations for 2017 and 2016 , respectively .", "the increase in expense for 2018 reflects an increase in the company 2019s stock price and progress toward achieving its performance objectives .", "the decrease in expense for 2017 reflects the impact of changes in the stock price .", "income tax benefits recognized in the income statement for these compensation arrangements during 2018 , 2017 and 2016 were $ 42 , $ 33 and $ 45 , respectively .", "as of september 30 , 2018 , total unrecognized compensation expense related to unvested shares awarded under these plans was $ 182 , which is expected to be recognized over a weighted-average period of 1.1 years .", "in addition to the employee stock option and incentive shares plans , in 2018 the company awarded 12228 shares of restricted stock and 2038 restricted stock units under the restricted stock plan for non-management directors .", "as of september 30 , 2018 , 159965 shares were available for issuance under this plan .", "( 16 ) common and preferred stock at september 30 , 2018 , 37.0 million shares of common stock were reserved for issuance under the company 2019s stock-based compensation plans .", "during 2018 , 15.1 million common shares were purchased and 2.6 million treasury shares were reissued .", "in 2017 , 6.6 million common shares were purchased and 5.5 million treasury shares were reissued .", "at september 30 , 2018 and 2017 , the company had 5.4 million shares of $ 2.50 par value preferred stock authorized , with none issued. ." ]

[ [ "", "Shares", "Average Grant DateFair Value Per Share" ], [ "Beginning of year", "4,999", "$50.33" ], [ "Granted", "2,295", "$63.79" ], [ "Earned/vested", "(310)", "$51.27" ], [ "Canceled", "(86)", "$56.53" ], [ "End of year", "6,898", "$54.69" ] ]

[ [ "", "shares", "average grant datefair value per share" ], [ "beginning of year", "4999", "$ 50.33" ], [ "granted", "2295", "$ 63.79" ], [ "earned/vested", "-310 ( 310 )", "$ 51.27" ], [ "canceled", "-86 ( 86 )", "$ 56.53" ], [ "end of year", "6898", "$ 54.69" ] ]

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[ "were more than offset by higher raw material and energy costs ( $ 312 million ) , increased market related downtime ( $ 187 million ) and other items ( $ 30 million ) .", "com- pared with 2003 , higher 2005 earnings in the brazilian papers , u.s .", "coated papers and u.s .", "market pulp busi- nesses were offset by lower earnings in the u.s .", "un- coated papers and the european papers businesses .", "the printing papers segment took 995000 tons of downtime in 2005 , including 540000 tons of lack-of-order down- time to align production with customer demand .", "this compared with 525000 tons of downtime in 2004 , of which 65000 tons related to lack-of-orders .", "printing papers in millions 2005 2004 2003 ." ]

[ "uncoated papers sales totaled $ 4.8 billion in 2005 compared with $ 5.0 billion in 2004 and 2003 .", "sales price realizations in the united states averaged 4.4% ( 4.4 % ) higher in 2005 than in 2004 , and 4.6% ( 4.6 % ) higher than 2003 .", "favorable pricing momentum which began in 2004 carried over into the beginning of 2005 .", "demand , however , began to weaken across all grades as the year progressed , resulting in lower price realizations in the second and third quarters .", "however , prices stabilized as the year ended .", "total shipments for the year were 7.2% ( 7.2 % ) lower than in 2004 and 4.2% ( 4.2 % ) lower than in 2003 .", "to continue matching our productive capacity with customer demand , the business announced the perma- nent closure of three uncoated freesheet machines and took significant lack-of-order downtime during the period .", "demand showed some improvement toward the end of the year , bolstered by the introduction our new line of vision innovation paper products ( vip technologiestm ) , with improved brightness and white- ness .", "mill operations were favorable compared to last year , and the rebuild of the no .", "1 machine at the east- over , south carolina mill was completed as planned in the fourth quarter .", "however , the favorable impacts of improved mill operations and lower overhead costs were more than offset by record high input costs for energy and wood and higher transportation costs compared to 2004 .", "the earnings decline in 2005 compared with 2003 was principally due to lower shipments , higher down- time and increased costs for wood , energy and trans- portation , partially offset by lower overhead costs and favorable mill operations .", "average sales price realizations for our european operations remained relatively stable during 2005 , but averaged 1% ( 1 % ) lower than in 2004 , and 6% ( 6 % ) below 2003 levels .", "sales volumes rose slightly , up 1% ( 1 % ) in 2005 com- pared with 2004 and 5% ( 5 % ) compared to 2003 .", "earnings were lower than in 2004 , reflecting higher wood and energy costs and a compression of margins due to un- favorable foreign currency exchange movements .", "earn- ings were also adversely affected by downtime related to the rebuild of three paper machines during the year .", "coated papers sales in the united states were $ 1.6 bil- lion in 2005 , compared with $ 1.4 billion in 2004 and $ 1.3 billion in 2003 .", "the business reported an operating profit in 2005 versus a small operating loss in 2004 .", "the earnings improvement was driven by higher average sales prices and improved mill operations .", "price realiza- tions in 2005 averaged 13% ( 13 % ) higher than 2004 .", "higher input costs for raw materials and energy partially offset the benefits from improved prices and operations .", "sales volumes were about 1% ( 1 % ) lower in 2005 versus 2004 .", "market pulp sales from our u.s .", "and european facilities totaled $ 757 million in 2005 compared with $ 661 mil- lion and $ 571 million in 2004 and 2003 , respectively .", "operating profits in 2005 were up 86% ( 86 % ) from 2004 .", "an operating loss had been reported in 2003 .", "higher aver- age prices and sales volumes , lower overhead costs and improved mill operations in 2005 more than offset in- creases in raw material , energy and chemical costs .", "u.s .", "softwood and hardwood pulp prices improved through the 2005 first and second quarters , then declined during the third quarter , but recovered somewhat toward year end .", "softwood pulp prices ended the year about 2% ( 2 % ) lower than 2004 , but were 15% ( 15 % ) higher than 2003 , while hardwood pulp prices ended the year about 15% ( 15 % ) higher than 2004 and 10% ( 10 % ) higher than 2003 .", "u.s .", "pulp sales volumes were 12% ( 12 % ) higher than in 2004 and 19% ( 19 % ) higher than in 2003 , reflecting increased global demand .", "euro- pean pulp volumes increased 15% ( 15 % ) and 2% ( 2 % ) compared with 2004 and 2003 , respectively , while average sales prices increased 4% ( 4 % ) and 11% ( 11 % ) compared with 2004 and 2003 , respectively .", "brazilian paper sales were $ 684 million in 2005 com- pared with $ 592 million in 2004 and $ 540 million in 2003 .", "sales volumes for uncoated freesheet paper , coated paper and wood chips were down from 2004 , but average price realizations improved for exported un- coated freesheet and coated groundwood paper grades .", "favorable currency translation , as yearly average real exchange rates versus the u.s .", "dollar were 17% ( 17 % ) higher in 2005 than in 2004 , positively impacted reported sales in u.s .", "dollars .", "average sales prices for domestic un- coated paper declined 4% ( 4 % ) in local currency versus 2004 , while domestic coated paper prices were down 3% ( 3 % ) .", "operating profits in 2005 were down 9% ( 9 % ) from 2004 , but were up 2% ( 2 % ) from 2003 .", "earnings in 2005 were neg- atively impacted by a weaker product and geographic sales mix for both uncoated and coated papers , reflecting increased competition and softer demand , particularly in the printing , commercial and editorial market segments. ." ]

[ [ "<i>In millions</i>", "2005", "2004", "2003" ], [ "Sales", "$7,860", "$7,670", "$7,280" ], [ "Operating Profit", "$552", "$581", "$464" ] ]

[ [ "in millions", "2005", "2004", "2003" ], [ "sales", "$ 7860", "$ 7670", "$ 7280" ], [ "operating profit", "$ 552", "$ 581", "$ 464" ] ]

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[ "2022 expand client relationships - the overall market we serve continues to gravitate beyond single-application purchases to multi-solution partnerships .", "as the market dynamics shift , we expect our clients and prospects to rely more on our multidimensional service offerings .", "our leveraged solutions and processing expertise can produce meaningful value and cost savings for our clients through more efficient operating processes , improved service quality and convenience for our clients' customers .", "2022 build global diversification - we continue to deploy resources in global markets where we expect to achieve meaningful scale .", "revenues by segment the table below summarizes our revenues by reporting segment ( in millions ) : ." ]

[ "integrated financial solutions ( \"ifs\" ) the ifs segment is focused primarily on serving north american regional and community bank and savings institutions for transaction and account processing , payment solutions , channel solutions , digital channels , fraud , risk management and compliance solutions , lending and wealth and retirement solutions , and corporate liquidity , capitalizing on the continuing trend to outsource these solutions .", "clients in this segment include regional and community banks , credit unions and commercial lenders , as well as government institutions , merchants and other commercial organizations .", "these markets are primarily served through integrated solutions and characterized by multi-year processing contracts that generate highly recurring revenues .", "the predictable nature of cash flows generated from this segment provides opportunities for further investments in innovation , integration , information and security , and compliance in a cost-effective manner .", "our solutions in this segment include : 2022 core processing and ancillary applications .", "our core processing software applications are designed to run banking processes for our financial institution clients , including deposit and lending systems , customer management , and other central management systems , serving as the system of record for processed activity .", "our diverse selection of market- focused core systems enables fis to compete effectively in a wide range of markets .", "we also offer a number of services that are ancillary to the primary applications listed above , including branch automation , back-office support systems and compliance support .", "2022 digital solutions , including internet , mobile and ebanking .", "our comprehensive suite of retail delivery applications enables financial institutions to integrate and streamline customer-facing operations and back-office processes , thereby improving customer interaction across all channels ( e.g. , branch offices , internet , atm , mobile , call centers ) .", "fis' focus on consumer access has driven significant market innovation in this area , with multi-channel and multi-host solutions and a strategy that provides tight integration of services and a seamless customer experience .", "fis is a leader in mobile banking solutions and electronic banking enabling clients to manage banking and payments through the internet , mobile devices , accounting software and telephone .", "our corporate electronic banking solutions provide commercial treasury capabilities including cash management services and multi-bank collection and disbursement services that address the specialized needs of corporate clients .", "fis systems provide full accounting and reconciliation for such transactions , serving also as the system of record. ." ]

[ [ "", "2017", "2016", "2015" ], [ "IFS", "$4,630", "$4,525", "$3,809" ], [ "GFS", "4,138", "4,250", "2,361" ], [ "Corporate and Other", "355", "466", "426" ], [ "Total Consolidated Revenues", "$9,123", "$9,241", "$6,596" ] ]

[ [ "", "2017", "2016", "2015" ], [ "ifs", "$ 4630", "$ 4525", "$ 3809" ], [ "gfs", "4138", "4250", "2361" ], [ "corporate and other", "355", "466", "426" ], [ "total consolidated revenues", "$ 9123", "$ 9241", "$ 6596" ] ]

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[ "in the ordinary course of business , based on our evaluations of certain geologic trends and prospective economics , we have allowed certain lease acreage to expire and may allow additional acreage to expire in the future .", "if production is not established or we take no other action to extend the terms of the leases , licenses , or concessions , undeveloped acreage listed in the table below will expire over the next three years .", "we plan to continue the terms of many of these licenses and concession areas or retain leases through operational or administrative actions. ." ]

[ "marketing and midstream our e&p segment includes activities related to the marketing and transportation of substantially all of our liquid hydrocarbon and natural gas production .", "these activities include the transportation of production to market centers , the sale of commodities to third parties and storage of production .", "we balance our various sales , storage and transportation positions through what we call supply optimization , which can include the purchase of commodities from third parties for resale .", "supply optimization serves to aggregate volumes in order to satisfy transportation commitments and to achieve flexibility within product types and delivery points .", "as discussed previously , we currently own and operate gathering systems and other midstream assets in some of our production areas .", "we are continually evaluating value-added investments in midstream infrastructure or in capacity in third-party systems .", "delivery commitments we have committed to deliver quantities of crude oil and natural gas to customers under a variety of contracts .", "as of december 31 , 2012 , those contracts for fixed and determinable amounts relate primarily to eagle ford liquid hydrocarbon production .", "a minimum of 54 mbbld is to be delivered at variable pricing through mid-2017 under two contracts .", "our current production rates and proved reserves related to the eagle ford shale are sufficient to meet these commitments , but the contracts also provide for a monetary shortfall penalty or delivery of third-party volumes .", "oil sands mining segment we hold a 20 percent non-operated interest in the aosp , an oil sands mining and upgrading joint venture located in alberta , canada .", "the joint venture produces bitumen from oil sands deposits in the athabasca region utilizing mining techniques and upgrades the bitumen to synthetic crude oils and vacuum gas oil .", "the aosp 2019s mining and extraction assets are located near fort mcmurray , alberta and include the muskeg river and the jackpine mines .", "gross design capacity of the combined mines is 255000 ( 51000 net to our interest ) barrels of bitumen per day .", "the aosp base and expansion 1 scotford upgrader is at fort saskatchewan , northeast of edmonton , alberta .", "as of december 31 , 2012 , we own or have rights to participate in developed and undeveloped leases totaling approximately 216000 gross ( 43000 net ) acres .", "the underlying developed leases are held for the duration of the project , with royalties payable to the province of alberta .", "the five year aosp expansion 1 was completed in 2011 .", "the jackpine mine commenced production under a phased start- up in the third quarter of 2010 and began supplying oil sands ore to the base processing facility in the fourth quarter of 2010 .", "the upgrader expansion was completed and commenced operations in the second quarter of 2011 .", "synthetic crude oil sales volumes for 2012 were 47 mbbld and net of royalty production was 41 mbbld .", "phase one of debottlenecking opportunities was approved in 2011 and is expected to be completed in the second quarter of 2013 .", "future expansions and additional debottlenecking opportunities remain under review with no formal approvals expected until 2014 .", "current aosp operations use established processes to mine oil sands deposits from an open-pit mine , extract the bitumen and upgrade it into synthetic crude oils .", "ore is mined using traditional truck and shovel mining techniques .", "the mined ore passes through primary crushers to reduce the ore chunks in size and is then sent to rotary breakers where the ore chunks are further reduced to smaller particles .", "the particles are combined with hot water to create slurry .", "the slurry moves through the extraction ." ]

[ [ "", "Net Undeveloped Acres Expiring" ], [ "(In thousands)", "2013", "2014", "2015" ], [ "U.S.", "436", "189", "130" ], [ "Canada", "—", "—", "—" ], [ "Total North America", "436", "189", "130" ], [ "E.G.", "—", "36", "—" ], [ "Other Africa", "858", "—", "189" ], [ "Total Africa", "858", "36", "189" ], [ "Total Europe", "—", "216", "1,155" ], [ "Other International", "—", "—", "49" ], [ "Worldwide", "1,294", "441", "1,523" ] ]

[ [ "( in thousands )", "net undeveloped acres expiring 2013", "net undeveloped acres expiring 2014", "net undeveloped acres expiring 2015" ], [ "u.s .", "436", "189", "130" ], [ "canada", "2014", "2014", "2014" ], [ "total north america", "436", "189", "130" ], [ "e.g .", "2014", "36", "2014" ], [ "other africa", "858", "2014", "189" ], [ "total africa", "858", "36", "189" ], [ "total europe", "2014", "216", "1155" ], [ "other international", "2014", "2014", "49" ], [ "worldwide", "1294", "441", "1523" ] ]

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[ "part i item 1 entergy corporation , utility operating companies , and system energy asbestos litigation ( entergy arkansas , entergy gulf states louisiana , entergy louisiana , entergy mississippi , entergy new orleans , and entergy texas ) numerous lawsuits have been filed in federal and state courts primarily in texas and louisiana , primarily by contractor employees who worked in the 1940-1980s timeframe , against entergy gulf states louisiana and entergy texas , and to a lesser extent the other utility operating companies , as premises owners of power plants , for damages caused by alleged exposure to asbestos .", "many other defendants are named in these lawsuits as well .", "currently , there are approximately 500 lawsuits involving approximately 5000 claimants .", "management believes that adequate provisions have been established to cover any exposure .", "additionally , negotiations continue with insurers to recover reimbursements .", "management believes that loss exposure has been and will continue to be handled so that the ultimate resolution of these matters will not be material , in the aggregate , to the financial position or results of operation of the utility operating companies .", "employment and labor-related proceedings ( entergy corporation , entergy arkansas , entergy gulf states louisiana , entergy louisiana , entergy mississippi , entergy new orleans , entergy texas , and system energy ) the registrant subsidiaries and other entergy subsidiaries are responding to various lawsuits in both state and federal courts and to other labor-related proceedings filed by current and former employees .", "generally , the amount of damages being sought is not specified in these proceedings .", "these actions include , but are not limited to , allegations of wrongful employment actions ; wage disputes and other claims under the fair labor standards act or its state counterparts ; claims of race , gender and disability discrimination ; disputes arising under collective bargaining agreements ; unfair labor practice proceedings and other administrative proceedings before the national labor relations board ; claims of retaliation ; and claims for or regarding benefits under various entergy corporation sponsored plans .", "entergy and the registrant subsidiaries are responding to these suits and proceedings and deny liability to the claimants .", "employees employees are an integral part of entergy 2019s commitment to serving customers .", "as of december 31 , 2011 , entergy subsidiaries employed 14682 people .", "utility: ." ]

[ "approximately 5300 employees are represented by the international brotherhood of electrical workers , the utility workers union of america , the international brotherhood of teamsters , the united government security officers of america , and the international union , security , police , fire professionals of america. ." ]

[ [ "Entergy Arkansas", "1,357" ], [ "Entergy Gulf States Louisiana", "805" ], [ "Entergy Louisiana", "937" ], [ "Entergy Mississippi", "736" ], [ "Entergy New Orleans", "342" ], [ "Entergy Texas", "674" ], [ "System Energy", "-" ], [ "Entergy Operations", "2,867" ], [ "Entergy Services", "3,138" ], [ "Entergy Nuclear Operations", "3,709" ], [ "Other subsidiaries", "117" ], [ "Total Entergy", "14,682" ] ]

[ [ "entergy arkansas", "1357" ], [ "entergy gulf states louisiana", "805" ], [ "entergy louisiana", "937" ], [ "entergy mississippi", "736" ], [ "entergy new orleans", "342" ], [ "entergy texas", "674" ], [ "system energy", "-" ], [ "entergy operations", "2867" ], [ "entergy services", "3138" ], [ "entergy nuclear operations", "3709" ], [ "other subsidiaries", "117" ], [ "total entergy", "14682" ] ]

[]

[ "entergy gulf states , inc .", "management's financial discussion and analysis ." ]

[ "the volume/weather variance was due to higher electric sales volume in the service territory .", "billed usage increased a total of 517 gwh in the residential and commercial sectors .", "the increase was partially offset by a decrease in industrial usage of 470 gwh due to the loss of two large industrial customers to cogeneration .", "the customers accounted for approximately 1% ( 1 % ) of entergy gulf states' net revenue in 2002 .", "in 2002 , deferred fuel costs of $ 8.9 million related to a texas fuel reconciliation case were written off and $ 6.5 million in expense resulted from an adjustment in the deregulated asset plan percentage as the result of a power uprate at river bend .", "the increase in net wholesale revenue was primarily due to an increase in sales volume to municipal and co- op customers and also to affiliated systems related to entergy's generation resource planning .", "the base rate decreases were effective june 2002 and january 2003 , both in the louisiana jurisdiction .", "the january 2003 base rate decrease of $ 22.1 million had a minimal impact on net income due to a corresponding reduction in nuclear depreciation and decommissioning expenses associated with the change in accounting to reflect an assumed extension of river bend's useful life .", "in 2002 , a gain of $ 15.2 million was recognized for the louisiana portion of the 1988 nelson units 1 and 2 sale .", "entergy gulf states received approval from the lpsc to discontinue applying amortization of the gain against recoverable fuel , resulting in the recognition of the deferred gain in income .", "rate refund provisions caused a decrease in net revenue due to additional provisions recorded in 2003 compared to 2002 for potential rate actions and refunds .", "gross operating revenues and fuel and purchased power expenses gross operating revenues increased primarily due to an increase of $ 440.2 million in fuel cost recovery revenues as a result of higher fuel rates in both the louisiana and texas jurisdictions .", "fuel and purchased power expenses increased $ 471.1 million due to an increase in the market prices of natural gas and purchased power .", "other income statement variances 2004 compared to 2003 other operation and maintenance expenses decreased primarily due to : 2022 voluntary severance program accruals of $ 22.5 million in 2003 ; and 2022 a decrease of $ 4.3 million in nuclear material and labor costs due to reduced staff in 2004. ." ]

[ [ "", "(In Millions)" ], [ "2002 net revenue", "$1,130.7" ], [ "Volume/weather", "17.8" ], [ "Fuel write-offs in 2002", "15.3" ], [ "Net wholesale revenue", "10.2" ], [ "Base rate decreases", "(23.3)" ], [ "NISCO gain recognized in 2002", "(15.2)" ], [ "Rate refund provisions", "(11.3)" ], [ "Other", "(14.1)" ], [ "2003 net revenue", "$1,110.1" ] ]

[ [ "", "( in millions )" ], [ "2002 net revenue", "$ 1130.7" ], [ "volume/weather", "17.8" ], [ "fuel write-offs in 2002", "15.3" ], [ "net wholesale revenue", "10.2" ], [ "base rate decreases", "-23.3 ( 23.3 )" ], [ "nisco gain recognized in 2002", "-15.2 ( 15.2 )" ], [ "rate refund provisions", "-11.3 ( 11.3 )" ], [ "other", "-14.1 ( 14.1 )" ], [ "2003 net revenue", "$ 1110.1" ] ]

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[ "during the third quarter ended 30 june 2017 , we recognized a goodwill impairment charge of $ 145.3 and an intangible asset impairment charge of $ 16.8 associated with our lasa reporting unit .", "refer to note 11 , goodwill , and note 12 , intangible assets , for more information related to these charges and the associated fair value measurement methods and significant inputs/assumptions , which were classified as level 3 since unobservable inputs were utilized in the fair value measurements .", "16 .", "debt the tables below summarize our outstanding debt at 30 september 2019 and 2018 : total debt ." ]

[ "( a ) fiscal year 2019 includes the current portion of long-term debt owed to a related party of $ 37.8 .", "( b ) refer to note 7 , acquisitions , for additional information regarding related party debt .", "short-term borrowings short-term borrowings consisted of bank obligations of $ 58.2 and $ 54.3 at 30 september 2019 and 2018 , respectively .", "the weighted average interest rate of short-term borrowings outstanding at 30 september 2019 and 2018 was 3.7% ( 3.7 % ) and 5.0% ( 5.0 % ) , respectively. ." ]

[ [ "30 September", "2019", "2018" ], [ "Short-term borrowings", "$58.2", "$54.3" ], [ "Current portion of long-term debt^(A)(B)", "40.4", "406.6" ], [ "Long-term debt", "2,907.3", "2,967.4" ], [ "Long-term debt – related party^(B)", "320.1", "384.3" ], [ "Total Debt", "$3,326.0", "$3,812.6" ] ]

[ [ "30 september", "2019", "2018" ], [ "short-term borrowings", "$ 58.2", "$ 54.3" ], [ "current portion of long-term debt ( a ) ( b )", "40.4", "406.6" ], [ "long-term debt", "2907.3", "2967.4" ], [ "long-term debt 2013 related party ( b )", "320.1", "384.3" ], [ "total debt", "$ 3326.0", "$ 3812.6" ] ]

[]

[ "( 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 % )" ] ]

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[ "management 2019s discussion and analysis 130 jpmorgan chase & co./2013 annual report wholesale credit portfolio the wholesale credit environment remained favorable throughout 2013 driving an increase in commercial client activity .", "discipline in underwriting across all areas of lending continues to remain a key point of focus , consistent with evolving market conditions and the firm 2019s risk management activities .", "the wholesale portfolio is actively managed , in part by conducting ongoing , in-depth reviews of credit quality and of industry , product and client concentrations .", "during the year , wholesale criticized assets and nonperforming assets decreased from higher levels experienced in 2012 , including a reduction in nonaccrual loans by 39% ( 39 % ) .", "as of december 31 , 2013 , wholesale exposure ( primarily cib , cb and am ) increased by $ 13.7 billion from december 31 , 2012 , primarily driven by increases of $ 11.4 billion in lending-related commitments and $ 8.4 billion in loans reflecting increased client activity primarily in cb and am .", "these increases were partially offset by a $ 9.2 billion decrease in derivative receivables .", "derivative receivables decreased predominantly due to reductions in interest rate derivatives driven by an increase in interest rates and reductions in commodity derivatives due to market movements .", "the decreases were partially offset by an increase in equity derivatives driven by a rise in equity markets .", "wholesale credit portfolio december 31 , credit exposure nonperforming ( d ) ." ]

[ "receivables from customers and other ( b ) 26744 23648 2014 2014 total wholesale credit- related assets 414067 411814 1459 1956 lending-related commitments 446232 434814 206 355 total wholesale credit exposure $ 860299 $ 846628 $ 1665 $ 2311 credit portfolio management derivatives notional , net ( c ) $ ( 27996 ) $ ( 27447 ) $ ( 5 ) $ ( 25 ) liquid securities and other cash collateral held against derivatives ( 14435 ) ( 15201 ) na na ( a ) during 2013 , certain loans that resulted from restructurings that were previously classified as performing were reclassified as nonperforming loans .", "prior periods were revised to conform with the current presentation .", "( b ) receivables from customers and other primarily includes margin loans to prime and retail brokerage customers ; these are classified in accrued interest and accounts receivable on the consolidated balance sheets .", "( c ) represents the net notional amount of protection purchased and sold through credit derivatives used to manage both performing and nonperforming wholesale credit exposures ; these derivatives do not qualify for hedge accounting under u.s .", "gaap .", "excludes the synthetic credit portfolio .", "for additional information , see credit derivatives on pages 137 2013138 , and note 6 on pages 220 2013233 of this annual report .", "( d ) excludes assets acquired in loan satisfactions. ." ]

[ [ "December 31,", "Credit exposure", "Nonperforming^(d)" ], [ "(in millions)", "2013", "2012", "2013", "2012" ], [ "Loans retained", "$308,263", "$306,222", "$821", "$1,434" ], [ "Loans held-for-sale", "11,290", "4,406", "26", "18" ], [ "Loans at fair value^(a)", "2,011", "2,555", "197", "265" ], [ "Loans – reported", "321,564", "313,183", "1,044", "1,717" ], [ "Derivative receivables", "65,759", "74,983", "415", "239" ], [ "Receivables from customers and other^(b)", "26,744", "23,648", "—", "—" ], [ "Total wholesale credit-related assets", "414,067", "411,814", "1,459", "1,956" ], [ "Lending-related commitments", "446,232", "434,814", "206", "355" ], [ "Total wholesale credit exposure", "$860,299", "$846,628", "$1,665", "$2,311" ], [ "Credit Portfolio Management derivatives notional, net^(c)", "$(27,996)", "$(27,447)", "$(5)", "$(25)" ], [ "Liquid securities and other cash collateral held against derivatives", "(14,435)", "(15,201)", "NA", "NA" ] ]

[ [ "december 31 , ( in millions )", "december 31 , 2013", "december 31 , 2012", "2013", "2012" ], [ "loans retained", "$ 308263", "$ 306222", "$ 821", "$ 1434" ], [ "loans held-for-sale", "11290", "4406", "26", "18" ], [ "loans at fair value ( a )", "2011", "2555", "197", "265" ], [ "loans 2013 reported", "321564", "313183", "1044", "1717" ], [ "derivative receivables", "65759", "74983", "415", "239" ], [ "receivables from customers and other ( b )", "26744", "23648", "2014", "2014" ], [ "total wholesale credit-related assets", "414067", "411814", "1459", "1956" ], [ "lending-related commitments", "446232", "434814", "206", "355" ], [ "total wholesale credit exposure", "$ 860299", "$ 846628", "$ 1665", "$ 2311" ], [ "credit portfolio management derivatives notional net ( c )", "$ -27996 ( 27996 )", "$ -27447 ( 27447 )", "$ -5 ( 5 )", "$ -25 ( 25 )" ], [ "liquid securities and other cash collateral held against derivatives", "-14435 ( 14435 )", "-15201 ( 15201 )", "na", "na" ] ]

[]

[ "notes to consolidated financial statements derivatives with credit-related contingent features certain of the firm 2019s derivatives have been transacted under bilateral agreements with counterparties who may require the firm to post collateral or terminate the transactions based on changes in the firm 2019s credit ratings .", "the firm assesses the impact of these bilateral agreements by determining the collateral or termination payments that would occur assuming a downgrade by all rating agencies .", "a downgrade by any one rating agency , depending on the agency 2019s relative ratings of the firm at the time of the downgrade , may have an impact which is comparable to the impact of a downgrade by all rating agencies .", "the table below presents the aggregate fair value of net derivative liabilities under such agreements ( excluding application of collateral posted to reduce these liabilities ) , the related aggregate fair value of the assets posted as collateral , and the additional collateral or termination payments that could have been called at the reporting date by counterparties in the event of a one-notch and two-notch downgrade in the firm 2019s credit ratings. ." ]

[ "additional collateral or termination payments for a one-notch downgrade 1072 911 additional collateral or termination payments for a two-notch downgrade 2815 2989 credit derivatives the firm enters into a broad array of credit derivatives in locations around the world to facilitate client transactions and to manage the credit risk associated with market- making and investing and lending activities .", "credit derivatives are actively managed based on the firm 2019s net risk position .", "credit derivatives are individually negotiated contracts and can have various settlement and payment conventions .", "credit events include failure to pay , bankruptcy , acceleration of indebtedness , restructuring , repudiation and dissolution of the reference entity .", "credit default swaps .", "single-name credit default swaps protect the buyer against the loss of principal on one or more bonds , loans or mortgages ( reference obligations ) in the event the issuer ( reference entity ) of the reference obligations suffers a credit event .", "the buyer of protection pays an initial or periodic premium to the seller and receives protection for the period of the contract .", "if there is no credit event , as defined in the contract , the seller of protection makes no payments to the buyer of protection .", "however , if a credit event occurs , the seller of protection is required to make a payment to the buyer of protection , which is calculated in accordance with the terms of the contract .", "credit indices , baskets and tranches .", "credit derivatives may reference a basket of single-name credit default swaps or a broad-based index .", "if a credit event occurs in one of the underlying reference obligations , the protection seller pays the protection buyer .", "the payment is typically a pro-rata portion of the transaction 2019s total notional amount based on the underlying defaulted reference obligation .", "in certain transactions , the credit risk of a basket or index is separated into various portions ( tranches ) , each having different levels of subordination .", "the most junior tranches cover initial defaults and once losses exceed the notional amount of these junior tranches , any excess loss is covered by the next most senior tranche in the capital structure .", "total return swaps .", "a total return swap transfers the risks relating to economic performance of a reference obligation from the protection buyer to the protection seller .", "typically , the protection buyer receives from the protection seller a floating rate of interest and protection against any reduction in fair value of the reference obligation , and in return the protection seller receives the cash flows associated with the reference obligation , plus any increase in the fair value of the reference obligation .", "132 goldman sachs 2014 annual report ." ]

[ [ "", "As of December" ], [ "<i>$ in millions</i>", "2014", "2013" ], [ "Net derivative liabilities under bilateral agreements", "$35,764", "$22,176" ], [ "Collateral posted", "30,824", "18,178" ], [ "Additional collateral or termination payments for a one-notch downgrade", "1,072", "911" ], [ "Additional collateral or termination payments for a two-notch downgrade", "2,815", "2,989" ] ]

[ [ "$ in millions", "as of december 2014", "as of december 2013" ], [ "net derivative liabilities under bilateral agreements", "$ 35764", "$ 22176" ], [ "collateral posted", "30824", "18178" ], [ "additional collateral or termination payments for a one-notch downgrade", "1072", "911" ], [ "additional collateral or termination payments for a two-notch downgrade", "2815", "2989" ] ]

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[ "57management's discussion and analysis of financial condition and results of operations facility include covenants relating to net interest coverage and total debt-to-book capitalization ratios .", "the company was in compliance with the terms of the 3-year credit facility at december 31 , 2005 .", "the company has never borrowed under its domestic revolving credit facilities .", "utilization of the non-u.s .", "credit facilities may also be dependent on the company's ability to meet certain conditions at the time a borrowing is requested .", "contractual obligations , guarantees , and other purchase commitments contractual obligations summarized in the table below are the company's obligations and commitments to make future payments under debt obligations ( assuming earliest possible exercise of put rights by holders ) , lease payment obligations , and purchase obligations as of december 31 , 2005 .", "payments due by period ( 1 ) ( in millions ) total 2006 2007 2008 2009 2010 thereafter ." ]

[ "( 1 ) amounts included represent firm , non-cancelable commitments .", "debt obligations : at december 31 , 2005 , the company's long-term debt obligations , including current maturities and unamortized discount and issue costs , totaled $ 4.0 billion , as compared to $ 5.0 billion at december 31 , 2004 .", "a table of all outstanding long-term debt securities can be found in note 4 , \"\"debt and credit facilities'' to the company's consolidated financial statements .", "as previously discussed , the decrease in the long- term debt obligations as compared to december 31 , 2004 , was due to the redemptions and repurchases of $ 1.0 billion principal amount of outstanding securities during 2005 .", "also , as previously discussed , the remaining $ 118 million of 7.6% ( 7.6 % ) notes due january 1 , 2007 were reclassified to current maturities of long-term debt .", "lease obligations : the company owns most of its major facilities , but does lease certain office , factory and warehouse space , land , and information technology and other equipment under principally non-cancelable operating leases .", "at december 31 , 2005 , future minimum lease obligations , net of minimum sublease rentals , totaled $ 1.2 billion .", "rental expense , net of sublease income , was $ 254 million in 2005 , $ 217 million in 2004 and $ 223 million in 2003 .", "purchase obligations : the company has entered into agreements for the purchase of inventory , license of software , promotional agreements , and research and development agreements which are firm commitments and are not cancelable .", "the longest of these agreements extends through 2015 .", "total payments expected to be made under these agreements total $ 992 million .", "commitments under other long-term agreements : the company has entered into certain long-term agreements to purchase software , components , supplies and materials from suppliers .", "most of the agreements extend for periods of one to three years ( three to five years for software ) .", "however , generally these agreements do not obligate the company to make any purchases , and many permit the company to terminate the agreement with advance notice ( usually ranging from 60 to 180 days ) .", "if the company were to terminate these agreements , it generally would be liable for certain termination charges , typically based on work performed and supplier on-hand inventory and raw materials attributable to canceled orders .", "the company's liability would only arise in the event it terminates the agreements for reasons other than \"\"cause.'' in 2003 , the company entered into outsourcing contracts for certain corporate functions , such as benefit administration and information technology related services .", "these contracts generally extend for 10 years and are expected to expire in 2013 .", "the total payments under these contracts are approximately $ 3 billion over 10 years ; however , these contracts can be terminated .", "termination would result in a penalty substantially less than the annual contract payments .", "the company would also be required to find another source for these services , including the possibility of performing them in-house .", "as is customary in bidding for and completing network infrastructure projects and pursuant to a practice the company has followed for many years , the company has a number of performance/bid bonds and standby letters of credit outstanding , primarily relating to projects of government and enterprise mobility solutions segment and the networks segment .", "these instruments normally have maturities of up to three years and are standard in the ." ]

[ [ "", "<i>Payments Due by Period⁽¹⁾</i>" ], [ "<i>(in millions)</i>", "<i>Total</i>", "<i>2006</i>", "<i>2007</i>", "<i>2008</i>", "<i>2009</i>", "<i>2010</i>", "<i>Thereafter</i>" ], [ "Long-Term Debt Obligations", "$4,033", "$119", "$1,222", "$200", "$2", "$529", "$1,961" ], [ "Lease Obligations", "1,150", "438", "190", "134", "109", "84", "195" ], [ "Purchase Obligations", "992", "418", "28", "3", "2", "2", "539" ], [ "Total Contractual Obligations", "$6,175", "$975", "$1,440", "$337", "$113", "$615", "$2,695" ] ]

[ [ "( in millions )", "payments due by period ( 1 ) total", "payments due by period ( 1 ) 2006", "payments due by period ( 1 ) 2007", "payments due by period ( 1 ) 2008", "payments due by period ( 1 ) 2009", "payments due by period ( 1 ) 2010", "payments due by period ( 1 ) thereafter" ], [ "long-term debt obligations", "$ 4033", "$ 119", "$ 1222", "$ 200", "$ 2", "$ 529", "$ 1961" ], [ "lease obligations", "1150", "438", "190", "134", "109", "84", "195" ], [ "purchase obligations", "992", "418", "28", "3", "2", "2", "539" ], [ "total contractual obligations", "$ 6175", "$ 975", "$ 1440", "$ 337", "$ 113", "$ 615", "$ 2695" ] ]

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[ "performance of the company 2019s obligations under the senior notes , including any repurchase obligations resulting from a change of control , is unconditionally guaranteed , jointly and severally , on an unsecured basis , by each of hii 2019s existing and future domestic restricted subsidiaries that guarantees debt under the credit facility ( the 201csubsidiary guarantors 201d ) .", "the guarantees rank equally with all other unsecured and unsubordinated indebtedness of the guarantors .", "the subsidiary guarantors are each directly or indirectly 100% ( 100 % ) owned by hii .", "there are no significant restrictions on the ability of hii or any subsidiary guarantor to obtain funds from their respective subsidiaries by dividend or loan .", "mississippi economic development revenue bonds 2014as of december 31 , 2011 and 2010 , the company had $ 83.7 million outstanding from the issuance of industrial revenue bonds issued by the mississippi business finance corporation .", "these bonds accrue interest at a fixed rate of 7.81% ( 7.81 % ) per annum ( payable semi-annually ) and mature in 2024 .", "while repayment of principal and interest is guaranteed by northrop grumman systems corporation , hii has agreed to indemnify northrop grumman systems corporation for any losses related to the guaranty .", "in accordance with the terms of the bonds , the proceeds have been used to finance the construction , reconstruction , and renovation of the company 2019s interest in certain ship manufacturing and repair facilities , or portions thereof , located in the state of mississippi .", "gulf opportunity zone industrial development revenue bonds 2014as of december 31 , 2011 and 2010 , the company had $ 21.6 million outstanding from the issuance of gulf opportunity zone industrial development revenue bonds ( 201cgo zone irbs 201d ) issued by the mississippi business finance corporation .", "the go zone irbs were initially issued in a principal amount of $ 200 million , and in november 2010 , in connection with the anticipated spin-off , hii purchased $ 178 million of the bonds using the proceeds from a $ 178 million intercompany loan from northrop grumman .", "see note 20 : related party transactions and former parent company equity .", "the remaining bonds accrue interest at a fixed rate of 4.55% ( 4.55 % ) per annum ( payable semi-annually ) , and mature in 2028 .", "in accordance with the terms of the bonds , the proceeds have been used to finance the construction , reconstruction , and renovation of the company 2019s interest in certain ship manufacturing and repair facilities , or portions thereof , located in the state of mississippi .", "the estimated fair value of the company 2019s total long-term debt , including current portions , at december 31 , 2011 and 2010 , was $ 1864 million and $ 128 million , respectively .", "the fair value of the total long-term debt was calculated based on recent trades for most of the company 2019s debt instruments or based on interest rates prevailing on debt with substantially similar risks , terms and maturities .", "the aggregate amounts of principal payments due on long-term debt for each of the next five years and thereafter are : ( $ in millions ) ." ]

[ "14 .", "investigations , claims , and litigation the company is involved in legal proceedings before various courts and administrative agencies , and is periodically subject to government examinations , inquiries and investigations .", "pursuant to fasb accounting standard codification 450 contingencies , the company has accrued for losses associated with investigations , claims and litigation when , and to the extent that , loss amounts related to the investigations , claims and litigation are probable and can be reasonably estimated .", "the actual losses that might be incurred to resolve such investigations , claims and litigation may be higher or lower than the amounts accrued .", "for matters where a material loss is probable or reasonably possible and the amount of loss cannot be reasonably estimated , but the company is able to reasonably estimate a range of possible losses , such estimated range is required to be disclosed in these notes .", "this estimated range would be based on information currently available to the company and would involve elements of judgment and significant uncertainties .", "this estimated range of possible loss would not represent the company 2019s maximum possible loss exposure .", "for matters as to which the company is not able to reasonably estimate a possible loss or range of loss , the company is required to indicate the reasons why it is unable to estimate the possible loss or range of loss .", "for matters not specifically described in these notes , the company does not believe , based on information currently available to it , that it is reasonably possible that the liabilities , if any , arising from ." ]

[ [ "2012", "$29" ], [ "2013", "50" ], [ "2014", "79" ], [ "2015", "108" ], [ "2016", "288" ], [ "Thereafter", "1,305" ], [ "Total long-term debt", "$1,859" ] ]

[ [ "2012", "$ 29" ], [ "2013", "50" ], [ "2014", "79" ], [ "2015", "108" ], [ "2016", "288" ], [ "thereafter", "1305" ], [ "total long-term debt", "$ 1859" ] ]

[]

[ "jpmorgan chase & co./2012 annual report 167 the chart shows that for year ended december 31 , 2012 , the firm posted market risk related gains on 220 of the 261 days in this period , with gains on eight days exceeding $ 200 million .", "the chart includes year to date losses incurred in the synthetic credit portfolio .", "cib and credit portfolio posted market risk-related gains on 254 days in the period .", "the inset graph looks at those days on which the firm experienced losses and depicts the amount by which var exceeded the actual loss on each of those days .", "of the losses that were sustained on the 41 days of the 261 days in the trading period , the firm sustained losses that exceeded the var measure on three of those days .", "these losses in excess of the var all occurred in the second quarter of 2012 and were due to the adverse effect of market movements on risk positions in the synthetic credit portfolio held by cio .", "during the year ended december 31 , 2012 , cib and credit portfolio experienced seven loss days ; none of the losses on those days exceeded their respective var measures .", "other risk measures debit valuation adjustment sensitivity the following table provides information about the gross sensitivity of dva to a one-basis-point increase in jpmorgan chase 2019s credit spreads .", "this sensitivity represents the impact from a one-basis-point parallel shift in jpmorgan chase 2019s entire credit curve .", "however , the sensitivity at a single point in time multiplied by the change in credit spread at a single maturity point may not be representative of the actual dva gain or loss realized within a period .", "the actual results reflect the movement in credit spreads across various maturities , which typically do not move in a parallel fashion , and is the product of a constantly changing exposure profile , among other factors .", "debit valuation adjustment sensitivity ( in millions ) one basis-point increase in jpmorgan chase 2019s credit spread ." ]

[ "economic-value stress testing along with var , stress testing is important in measuring and controlling risk .", "while var reflects the risk of loss due to adverse changes in markets using recent historical market behavior as an indicator of losses , stress testing captures the firm 2019s exposure to unlikely but plausible events in abnormal markets .", "the firm runs weekly stress tests on market-related risks across the lines of business using multiple scenarios that assume significant changes in risk factors such as credit spreads , equity prices , interest rates , currency rates or commodity prices .", "the framework uses a grid-based approach , which calculates multiple magnitudes of stress for both market rallies and market sell-offs for ." ]

[ [ "(in millions)", "One basis-point increase inJPMorgan Chase’s credit spread" ], [ "December 31, 2012", "$34" ], [ "December 31, 2011", "35" ] ]

[ [ "( in millions )", "one basis-point increase injpmorgan chase 2019s credit spread" ], [ "december 31 2012", "$ 34" ], [ "december 31 2011", "35" ] ]

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[ "table of contents adobe inc .", "notes to consolidated financial statements ( continued ) the table below represents the preliminary purchase price allocation to the acquired net tangible and intangible assets of marketo based on their estimated fair values as of the acquisition date and the associated estimated useful lives at that date .", "the fair values assigned to assets acquired and liabilities assumed are based on management 2019s best estimates and assumptions as of the reporting date and are considered preliminary pending finalization of valuation analyses pertaining to intangible assets acquired , deferred revenue and tax liabilities assumed including the calculation of deferred tax assets and liabilities .", "( in thousands ) amount weighted average useful life ( years ) ." ]

[ "_________________________________________ ( 1 ) non-deductible for tax-purposes .", "identifiable intangible assets 2014customer relationships consist of marketo 2019s contractual relationships and customer loyalty related to their enterprise and commercial customers as well as technology partner relationships .", "the estimated fair value of the customer contracts and relationships was determined based on projected cash flows attributable to the asset .", "purchased technology acquired primarily consists of marketo 2019s cloud-based engagement marketing software platform .", "the estimated fair value of the purchased technology was determined based on the expected future cost savings resulting from ownership of the asset .", "backlog relates to subscription contracts and professional services .", "non-compete agreements include agreements with key marketo employees that preclude them from competing against marketo for a period of two years from the acquisition date .", "trademarks include the marketo trade name , which is well known in the marketing ecosystem .", "we amortize the fair value of these intangible assets on a straight-line basis over their respective estimated useful lives .", "goodwill 2014approximately $ 3.46 billion has been allocated to goodwill , and has been allocated in full to the digital experience reportable segment .", "goodwill represents the excess of the purchase price over the fair value of the underlying acquired net tangible and intangible assets .", "the factors that contributed to the recognition of goodwill included securing buyer-specific synergies that increase revenue and profits and are not otherwise available to a marketplace participant , acquiring a talented workforce and cost savings opportunities .", "net liabilities assumed 2014marketo 2019s tangible assets and liabilities as of october 31 , 2018 were reviewed and adjusted to their fair value as necessary .", "the net liabilities assumed included , among other items , $ 100.1 million in accrued expenses , $ 74.8 million in deferred revenue and $ 182.6 million in deferred tax liabilities , which were partially offset by $ 54.9 million in cash and cash equivalents and $ 72.4 million in trade receivables acquired .", "deferred revenue 2014included in net liabilities assumed is marketo 2019s deferred revenue which represents advance payments from customers related to subscription contracts and professional services .", "we estimated our obligation related to the deferred revenue using the cost build-up approach .", "the cost build-up approach determines fair value by estimating the direct and indirect costs related to supporting the obligation plus an assumed operating margin .", "the sum of the costs and assumed operating profit approximates , in theory , the amount that marketo would be required to pay a third party to assume the obligation .", "the estimated costs to fulfill the obligation were based on the near-term projected cost structure for subscription and professional services .", "as a result , we recorded an adjustment to reduce marketo 2019s carrying value of deferred revenue to $ 74.8 million , which represents our estimate of the fair value of the contractual obligations assumed based on a preliminary valuation. ." ]

[ [ "(in thousands)", "Amount", "Weighted Average Useful Life (years)" ], [ "Customer contracts and relationships", "$576,900", "11" ], [ "Purchased technology", "444,500", "7" ], [ "Backlog", "105,800", "2" ], [ "Non-competition agreements", "12,100", "2" ], [ "Trademarks", "328,500", "9" ], [ "Total identifiable intangible assets", "1,467,800", "" ], [ "Net liabilities assumed", "(191,288)", "N/A" ], [ "Goodwill⁽¹⁾", "3,459,751", "N/A" ], [ "Total estimated purchase price", "$4,736,263", "" ] ]

[ [ "( in thousands )", "amount", "weighted average useful life ( years )" ], [ "customer contracts and relationships", "$ 576900", "11" ], [ "purchased technology", "444500", "7" ], [ "backlog", "105800", "2" ], [ "non-competition agreements", "12100", "2" ], [ "trademarks", "328500", "9" ], [ "total identifiable intangible assets", "1467800", "" ], [ "net liabilities assumed", "-191288 ( 191288 )", "n/a" ], [ "goodwill ( 1 )", "3459751", "n/a" ], [ "total estimated purchase price", "$ 4736263", "" ] ]

[]

[ "part ii item 5 .", "market for registrant 2019s common equity and related stockholder matters market information our common stock has been traded on the new york stock exchange ( 2018 2018nyse 2019 2019 ) under the symbol 2018 2018exr 2019 2019 since our ipo on august 17 , 2004 .", "prior to that time there was no public market for our common stock .", "the following table sets forth , for the periods indicated , the high and low bid price for our common stock as reported by the nyse and the per share dividends declared : dividends high low declared ." ]

[ "on february 28 , 2006 , the closing price of our common stock as reported by the nyse was $ 15.00 .", "at february 28 , 2006 , we had 166 holders of record of our common stock .", "holders of shares of common stock are entitled to receive distributions when declared by our board of directors out of any assets legally available for that purpose .", "as a reit , we are required to distribute at least 90% ( 90 % ) of our 2018 2018reit taxable income 2019 2019 is generally equivalent to our net taxable ordinary income , determined without regard to the deduction for dividends paid , to our stockholders annually in order to maintain our reit qualifications for u.s .", "federal income tax purposes .", "unregistered sales of equity securities and use of proceeds on june 20 , 2005 , we completed the sale of 6200000 shares of our common stock , $ .01 par value , for $ 83514 , which we reported in a current report on form 8-k filed with the securities and exchange commission on june 24 , 2005 .", "we used the proceeds for general corporate purposes , including debt repayment .", "the shares were issued pursuant to an exemption from registration under the securities act of 1933 , as amended. ." ]

[ [ "", "High", "Low", "Dividends Declared" ], [ "Period from August 17, 2004 to September 30, 2004", "$14.38", "$12.50", "$0.1113" ], [ "Quarter Ended December 31, 2004", "14.55", "12.60", "0.2275" ], [ "Quarter Ended March 31, 2005", "14.30", "12.55", "0.2275" ], [ "Quarter Ended June 30, 2005", "14.75", "12.19", "0.2275" ], [ "Quarter Ended September 30, 2005", "16.71", "14.32", "0.2275" ], [ "Quarter Ended December 31, 2005", "15.90", "13.00", "0.2275" ] ]

[ [ "", "high", "low", "dividends declared" ], [ "period from august 17 2004 to september 30 2004", "$ 14.38", "$ 12.50", "$ 0.1113" ], [ "quarter ended december 31 2004", "14.55", "12.60", "0.2275" ], [ "quarter ended march 31 2005", "14.30", "12.55", "0.2275" ], [ "quarter ended june 30 2005", "14.75", "12.19", "0.2275" ], [ "quarter ended september 30 2005", "16.71", "14.32", "0.2275" ], [ "quarter ended december 31 2005", "15.90", "13.00", "0.2275" ] ]

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[ "31 , 2015 , the price was r$ 218/mwh .", "after the expiration of contract with eletropaulo , tiet ea's strategy is to contract most of its physical guarantee , as described in regulatory framework section below , and sell the remaining portion in the spot market .", "tiet ea's strategy is reassessed from time to time according to changes in market conditions , hydrology and other factors .", "tiet ea has been continuously selling its available energy from 2016 forward through medium-term bilateral contracts of three to five years .", "as of december 31 , 2016 , tiet ea's contracted portfolio position is 95% ( 95 % ) and 88% ( 88 % ) with average prices of r$ 157/ mwh and r$ 159/mwh ( inflation adjusted until december 2016 ) for 2016 and 2017 , respectively .", "as brazil is mostly a hydro-based country with energy prices highly tied to the hydrological situation , the deterioration of the hydrology since the beginning of 2014 caused an increase in energy prices going forward .", "tiet ea is closely monitoring and analyzing system supply conditions to support energy commercialization decisions .", "under the concession agreement , tiet ea has an obligation to increase its capacity by 15% ( 15 % ) .", "tiet ea , as well as other concession generators , have not yet met this requirement due to regulatory , environmental , hydrological and fuel constraints .", "the state of s e3o paulo does not have a sufficient potential for wind power and only has a small remaining potential for hydro projects .", "as such , the capacity increases in the state will mostly be derived from thermal gas capacity projects .", "due to the highly complex process to obtain an environmental license for coal projects , tiet ea decided to fulfill its obligation with gas-fired projects in line with the federal government plans .", "petrobras refuses to supply natural gas and to offer capacity in its pipelines and regasification terminals .", "therefore , there are no regulations for natural gas swaps in place , and it is unfeasible to bring natural gas to aes tiet ea .", "a legal case has been initiated by the state of s e3o paulo requiring the investment to be performed .", "tiet ea is in the process of analyzing options to meet the obligation .", "uruguaiana is a 640 mw gas-fired combined cycle power plant located in the town of uruguaiana in the state of rio grande do sul , commissioned in december 2000 .", "aes manages and has a 46% ( 46 % ) economic interest in the plant with the remaining interest held by bndes .", "the plant's operations were suspended in april 2009 due to the unavailability of gas .", "aes has evaluated several alternatives to bring gas supply on a competitive basis to uruguaiana .", "one of the challenges is the capacity restrictions on the argentinean pipeline , especially during the winter season when gas demand in argentina is very high .", "the plant operated on a short-term basis during february and march 2013 , march through may 2014 , and february through may 2015 due to the short-term supply of lng for the facility .", "the plant did not operate in 2016 .", "uruguaiana continues to work toward securing gas on a long-term basis .", "market structure 2014 brazil has installed capacity of 150136 mw , which is 65% ( 65 % ) hydroelectric , 19% ( 19 % ) thermal and 16% ( 16 % ) renewable ( biomass and wind ) .", "brazil's national grid is divided into four subsystems .", "tiet ea is in the southeast and uruguaiana is in the south subsystems of the national grid .", "regulatory framework 2014 in brazil , the ministry of mines and energy determines the maximum amount of energy that a plant can sell , called physical guarantee , which represents the long-term average expected energy production of the plant .", "under current rules , physical guarantee can be sold to distribution companies through long- term regulated auctions or under unregulated bilateral contracts with large consumers or energy trading companies .", "the national system operator ( \"ons\" ) is responsible for coordinating and controlling the operation of the national grid .", "the ons dispatches generators based on hydrological conditions , reservoir levels , electricity demand and the prices of fuel and thermal generation .", "given the importance of hydro generation in the country , the ons sometimes reduces dispatch of hydro facilities and increases dispatch of thermal facilities to protect reservoir levels in the system .", "in brazil , the system operator controls all hydroelectric generation dispatch and reservoir levels .", "a mechanism known as the energy reallocation mechanism ( \"mre\" ) was created to share hydrological risk across mre hydro generators .", "if the hydro plants generate less than the total mre physical guarantee , the hydro generators may need to purchase energy in the short-term market to fulfill their contract obligations .", "when total hydro generation is higher than the total mre physical guarantee , the surplus is proportionally shared among its participants and they are able to make extra revenue selling the excess energy on the spot market .", "the consequences of unfavorable hydrology are ( i ) thermal plants more expensive to the system being dispatched , ( ii ) lower hydropower generation with deficits in the mre and ( iii ) high spot prices .", "aneel defines the spot price cap for electricity in the brazilian market .", "the spot price caps as defined by aneel and average spot prices by calendar year are as follows ( r$ / ." ]

[ "." ]

[ [ "Year", "2017", "2016", "2015", "2014" ], [ "Spot price cap as defined by ANEEL", "534", "423", "388", "822" ], [ "Average spot rate", "", "94", "287", "689" ] ]

[ [ "year", "2017", "2016", "2015", "2014" ], [ "spot price cap as defined by aneel", "534", "423", "388", "822" ], [ "average spot rate", "", "94", "287", "689" ] ]

[ { "arg1": "94", "arg2": "287", "op": "minus2-1", "res": "-193" }, { "arg1": "#0", "arg2": "287", "op": "divide2-2", "res": "-67%" } ]

[ "distribution xpedx , our north american merchant distribution business , distributes products and services to a number of customer markets including : commercial printers with printing papers and graphic pre-press , printing presses and post-press equipment ; building services and away-from-home markets with facility supplies ; manufacturers with packaging supplies and equipment ; and to a growing number of customers , we exclusively provide distribution capabilities including warehousing and delivery services .", "xpedx is the leading wholesale distribution marketer in these customer and product segments in north america , operating 122 warehouse locations and 130 retail stores in the united states , mexico and cana- forest products international paper owns and manages approx- imately 200000 acres of forestlands and develop- ment properties in the united states , mostly in the south .", "our remaining forestlands are managed as a portfolio to optimize the economic value to our shareholders .", "most of our portfolio represents prop- erties that are likely to be sold to investors and other buyers for various purposes .", "specialty businesses and other chemicals : this business was sold in the first quarter of 2007 .", "ilim holding s.a .", "in october 2007 , international paper and ilim holding s.a .", "( ilim ) completed a 50:50 joint venture to operate a pulp and paper business located in russia .", "ilim 2019s facilities include three paper mills located in bratsk , ust-ilimsk , and koryazhma , russia , with combined total pulp and paper capacity of over 2.5 million tons .", "ilim has exclusive harvesting rights on timberland and forest areas exceeding 12.8 million acres ( 5.2 million hectares ) .", "products and brand designations appearing in italics are trademarks of international paper or a related company .", "industry segment results industrial packaging demand for industrial packaging products is closely correlated with non-durable industrial goods pro- duction , as well as with demand for processed foods , poultry , meat and agricultural products .", "in addition to prices and volumes , major factors affecting the profitability of industrial packaging are raw material and energy costs , freight costs , manufacturing effi- ciency and product mix .", "industrial packaging results for 2009 and 2008 include the cbpr business acquired in the 2008 third quarter .", "net sales for 2009 increased 16% ( 16 % ) to $ 8.9 billion compared with $ 7.7 billion in 2008 , and 69% ( 69 % ) compared with $ 5.2 billion in 2007 .", "operating profits were 95% ( 95 % ) higher in 2009 than in 2008 and more than double 2007 levels .", "benefits from higher total year-over-year shipments , including the impact of the cbpr business , ( $ 11 million ) , favorable operating costs ( $ 294 million ) , and lower raw material and freight costs ( $ 295 million ) were parti- ally offset by the effects of lower price realizations ( $ 243 million ) , higher corporate overhead allocations ( $ 85 million ) , incremental integration costs asso- ciated with the acquisition of the cbpr business ( $ 3 million ) and higher other costs ( $ 7 million ) .", "additionally , operating profits in 2009 included a gain of $ 849 million relating to alternative fuel mix- ture credits , u.s .", "plant closure costs of $ 653 million , and costs associated with the shutdown of the eti- enne mill in france of $ 87 million .", "industrial packaging in millions 2009 2008 2007 ." ]

[ "north american industrial packaging results include the net sales and operating profits of the cbpr business from the august 4 , 2008 acquis- ition date .", "net sales were $ 7.6 billion in 2009 com- pared with $ 6.2 billion in 2008 and $ 3.9 billion in 2007 .", "operating profits in 2009 were $ 791 million ( $ 682 million excluding alternative fuel mixture cred- its , mill closure costs and costs associated with the cbpr integration ) compared with $ 322 million ( $ 414 million excluding charges related to the write-up of cbpr inventory to fair value , cbpr integration costs and other facility closure costs ) in 2008 and $ 305 million in 2007 .", "excluding the effect of the cbpr acquisition , con- tainerboard and box shipments were lower in 2009 compared with 2008 reflecting weaker customer demand .", "average sales price realizations were sig- nificantly lower for both containerboard and boxes due to weaker world-wide economic conditions .", "however , average sales margins for boxes ." ]

[ [ "<i>In millions</i>", "2009", "2008", "2007" ], [ "Sales", "$8,890", "$7,690", "$5,245" ], [ "Operating Profit", "761", "390", "374" ] ]

[ [ "in millions", "2009", "2008", "2007" ], [ "sales", "$ 8890", "$ 7690", "$ 5245" ], [ "operating profit", "761", "390", "374" ] ]

[]

[ "in summary , our cash flows for each period were as follows : years ended ( in millions ) dec 30 , dec 31 , dec 26 ." ]

[ "operating activities cash provided by operating activities is net income adjusted for certain non-cash items and changes in assets and liabilities .", "for 2017 compared to 2016 , the $ 302 million increase in cash provided by operating activities was due to changes to working capital partially offset by adjustments for non-cash items and lower net income .", "tax reform did not have an impact on our 2017 cash provided by operating activities .", "the increase in cash provided by operating activities was driven by increased income before taxes and $ 1.0 billion receipts of customer deposits .", "these increases were partially offset by increased inventory and accounts receivable .", "income taxes paid , net of refunds , in 2017 compared to 2016 were $ 2.9 billion higher due to higher income before taxes , taxable gains on sales of asml , and taxes on the isecg divestiture .", "we expect approximately $ 2.0 billion of additional customer deposits in 2018 .", "for 2016 compared to 2015 , the $ 2.8 billion increase in cash provided by operating activities was due to adjustments for non-cash items and changes in working capital , partially offset by lower net income .", "the adjustments for non-cash items were higher in 2016 primarily due to restructuring and other charges and the change in deferred taxes , partially offset by lower depreciation .", "investing activities investing cash flows consist primarily of capital expenditures ; investment purchases , sales , maturities , and disposals ; and proceeds from divestitures and cash used for acquisitions .", "our capital expenditures were $ 11.8 billion in 2017 ( $ 9.6 billion in 2016 and $ 7.3 billion in 2015 ) .", "the decrease in cash used for investing activities in 2017 compared to 2016 was primarily due to higher net activity of available-for sale-investments in 2017 , proceeds from our divestiture of isecg in 2017 , and higher maturities and sales of trading assets in 2017 .", "this activity was partially offset by higher capital expenditures in 2017 .", "the increase in cash used for investing activities in 2016 compared to 2015 was primarily due to our completed acquisition of altera , net purchases of trading assets in 2016 compared to net sales of trading assets in 2015 , and higher capital expenditures in 2016 .", "this increase was partially offset by lower investments in non-marketable equity investments .", "financing activities financing cash flows consist primarily of repurchases of common stock , payment of dividends to stockholders , issuance and repayment of short-term and long-term debt , and proceeds from the sale of shares of common stock through employee equity incentive plans .", "the increase in cash used for financing activities in 2017 compared to 2016 was primarily due to net long-term debt activity , which was a use of cash in 2017 compared to a source of cash in 2016 .", "during 2017 , we repurchased $ 3.6 billion of common stock under our authorized common stock repurchase program , compared to $ 2.6 billion in 2016 .", "as of december 30 , 2017 , $ 13.2 billion remained available for repurchasing common stock under the existing repurchase authorization limit .", "we base our level of common stock repurchases on internal cash management decisions , and this level may fluctuate .", "proceeds from the sale of common stock through employee equity incentive plans totaled $ 770 million in 2017 compared to $ 1.1 billion in 2016 .", "our total dividend payments were $ 5.1 billion in 2017 compared to $ 4.9 billion in 2016 .", "we have paid a cash dividend in each of the past 101 quarters .", "in january 2018 , our board of directors approved an increase to our cash dividend to $ 1.20 per share on an annual basis .", "the board has declared a quarterly cash dividend of $ 0.30 per share of common stock for q1 2018 .", "the dividend is payable on march 1 , 2018 to stockholders of record on february 7 , 2018 .", "cash was used for financing activities in 2016 compared to cash provided by financing activities in 2015 , primarily due to fewer debt issuances and the repayment of debt in 2016 .", "this activity was partially offset by repayment of commercial paper in 2015 and fewer common stock repurchases in 2016 .", "md&a - results of operations consolidated results and analysis 37 ." ]

[ [ "Years Ended(In Millions)", "Dec 30,2017", "Dec 31,2016", "Dec 26,2015" ], [ "Net cash provided by operating activities", "$22,110", "$21,808", "$19,018" ], [ "Net cash used for investing activities", "(15,762)", "(25,817)", "(8,183)" ], [ "Net cash provided by (used for) financing activities", "(8,475)", "(5,739)", "1,912" ], [ "Net increase (decrease) in cash and cash equivalents", "$(2,127)", "$(9,748)", "$12,747" ] ]

[ [ "years ended ( in millions )", "dec 302017", "dec 312016", "dec 262015" ], [ "net cash provided by operating activities", "$ 22110", "$ 21808", "$ 19018" ], [ "net cash used for investing activities", "-15762 ( 15762 )", "-25817 ( 25817 )", "-8183 ( 8183 )" ], [ "net cash provided by ( used for ) financing activities", "-8475 ( 8475 )", "-5739 ( 5739 )", "1912" ], [ "net increase ( decrease ) in cash and cash equivalents", "$ -2127 ( 2127 )", "$ -9748 ( 9748 )", "$ 12747" ] ]

[]

[ "the following table presents the net periodic pension and opeb cost/ ( benefit ) for the years ended december 31 : millions 2013 2012 2011 2010 ." ]

[ "our net periodic pension cost is expected to increase to approximately $ 111 million in 2013 from $ 89 million in 2012 .", "the increase is driven mainly by a decrease in the discount rate to 3.78% ( 3.78 % ) , our net periodic opeb expense is expected to increase to approximately $ 15 million in 2013 from $ 13 million in 2012 .", "the increase in our net periodic opeb cost is primarily driven by a decrease in the discount rate to 3.48% ( 3.48 % ) .", "cautionary information certain statements in this report , and statements in other reports or information filed or to be filed with the sec ( as well as information included in oral statements or other written statements made or to be made by us ) , are , or will be , forward-looking statements as defined by the securities act of 1933 and the securities exchange act of 1934 .", "these forward-looking statements and information include , without limitation , ( a ) statements in the ceo 2019s letter preceding part i ; statements regarding planned capital expenditures under the caption 201c2013 capital expenditures 201d in item 2 of part i ; statements regarding dividends in item 5 ; and statements and information set forth under the captions 201c2013 outlook 201d and 201cliquidity and capital resources 201d in this item 7 , and ( b ) any other statements or information in this report ( including information incorporated herein by reference ) regarding : expectations as to financial performance , revenue growth and cost savings ; the time by which goals , targets , or objectives will be achieved ; projections , predictions , expectations , estimates , or forecasts as to our business , financial and operational results , future economic performance , and general economic conditions ; expectations as to operational or service performance or improvements ; expectations as to the effectiveness of steps taken or to be taken to improve operations and/or service , including capital expenditures for infrastructure improvements and equipment acquisitions , any strategic business acquisitions , and modifications to our transportation plans ( including statements set forth in item 2 as to expectations related to our planned capital expenditures ) ; expectations as to existing or proposed new products and services ; expectations as to the impact of any new regulatory activities or legislation on our operations or financial results ; estimates of costs relating to environmental remediation and restoration ; estimates and expectations regarding tax matters ; expectations that claims , litigation , environmental costs , commitments , contingent liabilities , labor negotiations or agreements , or other matters will not have a material adverse effect on our consolidated results of operations , financial condition , or liquidity and any other similar expressions concerning matters that are not historical facts .", "forward-looking statements may be identified by their use of forward-looking terminology , such as 201cbelieves , 201d 201cexpects , 201d 201cmay , 201d 201cshould , 201d 201cwould , 201d 201cwill , 201d 201cintends , 201d 201cplans , 201d 201cestimates , 201d 201canticipates , 201d 201cprojects 201d and similar words , phrases or expressions .", "forward-looking statements should not be read as a guarantee of future performance or results , and will not necessarily be accurate indications of the times that , or by which , such performance or results will be achieved .", "forward-looking statements and information are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the statements and information .", "forward-looking statements and information reflect the good faith consideration by management of currently available information , and may be based on underlying assumptions believed to be reasonable under the circumstances .", "however , such information and assumptions ( and , therefore , such forward-looking statements and information ) are or may be subject to variables or unknown or unforeseeable events or circumstances over which management has little or no influence or control .", "the risk factors in item 1a of this report could affect our future results and could cause those results or other outcomes to differ materially from those expressed or implied in any forward-looking statements or information .", "to the extent circumstances require or we deem it otherwise necessary , we will update or amend these risk factors in a form 10-q , form 8-k or subsequent form 10-k .", "all forward-looking statements are qualified by , and should be read in conjunction with , these risk factors .", "forward-looking statements speak only as of the date the statement was made .", "we assume no obligation to update forward-looking information to reflect actual results , changes in assumptions or changes in other factors affecting forward-looking information .", "if we do update one or more forward-looking ." ]

[ [ "<i>Millions</i>", "<i>Est.2013</i>", "<i>2012</i>", "<i>2011</i>", "<i>2010</i>" ], [ "Net periodic pension cost", "$111", "$89", "$78", "$51" ], [ "Net periodic OPEB cost/(benefit)", "15", "13", "(6)", "(14)" ] ]

[ [ "millions", "est.2013", "2012", "2011", "2010" ], [ "net periodic pension cost", "$ 111", "$ 89", "$ 78", "$ 51" ], [ "net periodic opeb cost/ ( benefit )", "15", "13", "-6 ( 6 )", "-14 ( 14 )" ] ]

[ { "arg1": "89", "arg2": "78", "op": "divide1-1", "res": "114%" }, { "arg1": "#0", "arg2": "13", "op": "multiply1-2", "res": "14.8" } ]

[ "humana inc .", "notes to consolidated financial statements 2014 ( continued ) not be estimated based on observable market prices , and as such , unobservable inputs were used .", "for auction rate securities , valuation methodologies include consideration of the quality of the sector and issuer , underlying collateral , underlying final maturity dates , and liquidity .", "recently issued accounting pronouncements there are no recently issued accounting standards that apply to us or that will have a material impact on our results of operations , financial condition , or cash flows .", "3 .", "acquisitions on december 21 , 2012 , we acquired metropolitan health networks , inc. , or metropolitan , a medical services organization , or mso , that coordinates medical care for medicare advantage beneficiaries and medicaid recipients , primarily in florida .", "we paid $ 11.25 per share in cash to acquire all of the outstanding shares of metropolitan and repaid all outstanding debt of metropolitan for a transaction value of $ 851 million , plus transaction expenses .", "the preliminary fair values of metropolitan 2019s assets acquired and liabilities assumed at the date of the acquisition are summarized as follows : metropolitan ( in millions ) ." ]

[ "the goodwill was assigned to the health and well-being services segment and is not deductible for tax purposes .", "the other intangible assets , which primarily consist of customer contracts and trade names , have a weighted average useful life of 8.4 years .", "on october 29 , 2012 , we acquired a noncontrolling equity interest in mcci holdings , llc , or mcci , a privately held mso headquartered in miami , florida that coordinates medical care for medicare advantage and medicaid beneficiaries primarily in florida and texas .", "the metropolitan and mcci transactions are expected to provide us with components of a successful integrated care delivery model that has demonstrated scalability to new markets .", "a substantial portion of the revenues for both metropolitan and mcci are derived from services provided to humana medicare advantage members under capitation contracts with our health plans .", "in addition , metropolitan and mcci provide services to medicare advantage and medicaid members under capitation contracts with third party health plans .", "under these capitation agreements with humana and third party health plans , metropolitan and mcci assume financial risk associated with these medicare advantage and medicaid members. ." ]

[ [ "", "Metropolitan (in millions)" ], [ "Cash and cash equivalents", "$49" ], [ "Receivables, net", "28" ], [ "Other current assets", "40" ], [ "Property and equipment", "22" ], [ "Goodwill", "569" ], [ "Other intangible assets", "263" ], [ "Other long-term assets", "1" ], [ "Total assets acquired", "972" ], [ "Current liabilities", "(22)" ], [ "Other long-term liabilities", "(99)" ], [ "Total liabilities assumed", "(121)" ], [ "Net assets acquired", "$851" ] ]

[ [ "", "metropolitan ( in millions )" ], [ "cash and cash equivalents", "$ 49" ], [ "receivables net", "28" ], [ "other current assets", "40" ], [ "property and equipment", "22" ], [ "goodwill", "569" ], [ "other intangible assets", "263" ], [ "other long-term assets", "1" ], [ "total assets acquired", "972" ], [ "current liabilities", "-22 ( 22 )" ], [ "other long-term liabilities", "-99 ( 99 )" ], [ "total liabilities assumed", "-121 ( 121 )" ], [ "net assets acquired", "$ 851" ] ]

[ { "arg1": "49", "arg2": "28", "op": "add1-1", "res": "77" }, { "arg1": "#0", "arg2": "40", "op": "add1-2", "res": "117" } ]

[ "december 18 , 2007 , we issued an additional 23182197 shares of common stock to citadel .", "the issuances were exempt from registration pursuant to section 4 ( 2 ) of the securities act of 1933 , and each purchaser has represented to us that it is an 201caccredited investor 201d as defined in regulation d promulgated under the securities act of 1933 , and that the common stock was being acquired for investment .", "we did not engage in a general solicitation or advertising with regard to the issuances of the common stock and have not offered securities to the public in connection with the issuances .", "see item 1 .", "business 2014citadel investment .", "performance graph the following performance graph shows the cumulative total return to a holder of the company 2019s common stock , assuming dividend reinvestment , compared with the cumulative total return , assuming dividend reinvestment , of the standard & poor 2019s ( 201cs&p 201d ) 500 and the s&p super cap diversified financials during the period from december 31 , 2002 through december 31 , 2007. ." ]

[ "2022 $ 100 invested on 12/31/02 in stock or index-including reinvestment of dividends .", "fiscal year ending december 31 .", "2022 copyright a9 2008 , standard & poor 2019s , a division of the mcgraw-hill companies , inc .", "all rights reserved .", "www.researchdatagroup.com/s&p.htm ." ]

[ [ "", "12/02", "12/03", "12/04", "12/05", "12/06", "12/07" ], [ "E*TRADE Financial Corporation", "100.00", "260.29", "307.61", "429.22", "461.32", "73.05" ], [ "S&P 500", "100.00", "128.68", "142.69", "149.70", "173.34", "182.87" ], [ "S&P Super Cap Diversified Financials", "100.00", "139.29", "156.28", "170.89", "211.13", "176.62" ] ]

[ [ "", "12/02", "12/03", "12/04", "12/05", "12/06", "12/07" ], [ "e*trade financial corporation", "100.00", "260.29", "307.61", "429.22", "461.32", "73.05" ], [ "s&p 500", "100.00", "128.68", "142.69", "149.70", "173.34", "182.87" ], [ "s&p super cap diversified financials", "100.00", "139.29", "156.28", "170.89", "211.13", "176.62" ] ]

[]

[ "page 31 of 98 additional details about the company 2019s receivables sales agreement and debt are available in notes 6 and 12 , respectively , accompanying the consolidated financial statements within item 8 of this report .", "other liquidity items cash payments required for long-term debt maturities , rental payments under noncancellable operating leases and purchase obligations in effect at december 31 , 2006 , are summarized in the following table: ." ]

[ "total payments on contractual obligations $ 10772.0 $ 2907.5 $ 3768.1 $ 2741.4 $ 1355.0 ( a ) amounts reported in local currencies have been translated at the year-end exchange rates .", "( b ) for variable rate facilities , amounts are based on interest rates in effect at year end .", "( c ) the company 2019s purchase obligations include contracted amounts for aluminum , steel , plastic resin and other direct materials .", "also included are commitments for purchases of natural gas and electricity , aerospace and technologies contracts and other less significant items .", "in cases where variable prices and/or usage are involved , management 2019s best estimates have been used .", "depending on the circumstances , early termination of the contracts may not result in penalties and , therefore , actual payments could vary significantly .", "contributions to the company 2019s defined benefit pension plans , not including the unfunded german plans , are expected to be $ 69.1 million in 2007 .", "this estimate may change based on plan asset performance .", "benefit payments related to these plans are expected to be $ 62.6 million , $ 65.1 million , $ 68.9 million , $ 73.9 million and $ 75.1 million for the years ending december 31 , 2007 through 2011 , respectively , and $ 436.7 million combined for 2012 through 2016 .", "payments to participants in the unfunded german plans are expected to be $ 24.6 million , $ 25.1 million , $ 25.5 million , $ 25.9 million and $ 26.1 million in the years 2007 through 2011 , respectively , and a total of $ 136.6 million thereafter .", "we reduced our share repurchase program in 2006 to $ 45.7 million , net of issuances , compared to $ 358.1 million net repurchases in 2005 and $ 50 million in 2004 .", "the net repurchases in 2006 did not include a forward contract entered into in december 2006 for the repurchase of 1200000 shares .", "the contract was settled on january 5 , 2007 , for $ 51.9 million in cash .", "in 2007 we expect to repurchase approximately $ 175 million , net of issuances , and to reduce debt levels by more than $ 125 million .", "annual cash dividends paid on common stock were 40 cents per share in 2006 and 2005 and 35 cents per share in 2004 .", "total dividends paid were $ 41 million in 2006 , $ 42.5 million in 2005 and $ 38.9 million in 2004. ." ]

[ [ "", "Payments Due By Period(a)" ], [ "($ in millions)", "Total", "Less than1 Year", "1-3 Years", "3-5 Years", "More than 5 Years" ], [ "Long-term debt", "$2,301.6", "$38.5", "$278.4", "$972.9", "$1,011.8" ], [ "Capital lease obligations", "7.6", "2.7", "2.4", "0.4", "2.1" ], [ "Interest payments on long-term debt(b)", "826.5", "138.8", "259.4", "204.8", "223.5" ], [ "Operating leases", "185.9", "45.0", "58.5", "38.7", "43.7" ], [ "Purchase obligations(c)", "7,450.4", "2,682.5", "3,169.4", "1,524.6", "73.9" ], [ "Total payments on contractual obligations", "$10,772.0", "$2,907.5", "$3,768.1", "$2,741.4", "$1,355.0" ] ]

[ [ "( $ in millions )", "payments due by period ( a ) total", "payments due by period ( a ) less than1 year", "payments due by period ( a ) 1-3 years", "payments due by period ( a ) 3-5 years", "payments due by period ( a ) more than 5 years" ], [ "long-term debt", "$ 2301.6", "$ 38.5", "$ 278.4", "$ 972.9", "$ 1011.8" ], [ "capital lease obligations", "7.6", "2.7", "2.4", "0.4", "2.1" ], [ "interest payments on long-term debt ( b )", "826.5", "138.8", "259.4", "204.8", "223.5" ], [ "operating leases", "185.9", "45.0", "58.5", "38.7", "43.7" ], [ "purchase obligations ( c )", "7450.4", "2682.5", "3169.4", "1524.6", "73.9" ], [ "total payments on contractual obligations", "$ 10772.0", "$ 2907.5", "$ 3768.1", "$ 2741.4", "$ 1355.0" ] ]

[ { "arg1": "358.1", "arg2": "45.7", "op": "minus1-1", "res": "312.4" }, { "arg1": "#0", "arg2": "358.1", "op": "divide1-2", "res": "87.2%" } ]

[ "notes to consolidated financial statements jpmorgan chase & co./2009 annual report 204 on the amount of interest income recognized in the firm 2019s consolidated statements of income since that date .", "( b ) other changes in expected cash flows include the net impact of changes in esti- mated prepayments and reclassifications to the nonaccretable difference .", "on a quarterly basis , the firm updates the amount of loan principal and interest cash flows expected to be collected , incorporating assumptions regarding default rates , loss severities , the amounts and timing of prepayments and other factors that are reflective of current market conditions .", "probable decreases in expected loan principal cash flows trigger the recognition of impairment , which is then measured as the present value of the expected principal loss plus any related foregone interest cash flows discounted at the pool 2019s effective interest rate .", "impairments that occur after the acquisition date are recognized through the provision and allow- ance for loan losses .", "probable and significant increases in expected principal cash flows would first reverse any previously recorded allowance for loan losses ; any remaining increases are recognized prospectively as interest income .", "the impacts of ( i ) prepayments , ( ii ) changes in variable interest rates , and ( iii ) any other changes in the timing of expected cash flows are recognized prospectively as adjustments to interest income .", "disposals of loans , which may include sales of loans , receipt of payments in full by the borrower , or foreclosure , result in removal of the loan from the purchased credit-impaired portfolio .", "if the timing and/or amounts of expected cash flows on these purchased credit-impaired loans were determined not to be rea- sonably estimable , no interest would be accreted and the loans would be reported as nonperforming loans ; however , since the timing and amounts of expected cash flows for these purchased credit-impaired loans are reasonably estimable , interest is being accreted and the loans are being reported as performing loans .", "charge-offs are not recorded on purchased credit-impaired loans until actual losses exceed the estimated losses that were recorded as purchase accounting adjustments at acquisition date .", "to date , no charge-offs have been recorded for these loans .", "purchased credit-impaired loans acquired in the washington mu- tual transaction are reported in loans on the firm 2019s consolidated balance sheets .", "in 2009 , an allowance for loan losses of $ 1.6 billion was recorded for the prime mortgage and option arm pools of loans .", "the net aggregate carrying amount of the pools that have an allowance for loan losses was $ 47.2 billion at december 31 , 2009 .", "this allowance for loan losses is reported as a reduction of the carrying amount of the loans in the table below .", "the table below provides additional information about these pur- chased credit-impaired consumer loans. ." ]

[ "( a ) represents the sum of contractual principal , interest and fees earned at the reporting date .", "purchased credit-impaired loans are also being modified under the mha programs and the firm 2019s other loss mitigation programs .", "for these loans , the impact of the modification is incorporated into the firm 2019s quarterly assessment of whether a probable and/or signifi- cant change in estimated future cash flows has occurred , and the loans continue to be accounted for as and reported as purchased credit-impaired loans .", "foreclosed property the firm acquires property from borrowers through loan restructur- ings , workouts , and foreclosures , which is recorded in other assets on the consolidated balance sheets .", "property acquired may include real property ( e.g. , land , buildings , and fixtures ) and commercial and personal property ( e.g. , aircraft , railcars , and ships ) .", "acquired property is valued at fair value less costs to sell at acquisition .", "each quarter the fair value of the acquired property is reviewed and adjusted , if necessary .", "any adjustments to fair value in the first 90 days are charged to the allowance for loan losses and thereafter adjustments are charged/credited to noninterest revenue 2013other .", "operating expense , such as real estate taxes and maintenance , are charged to other expense .", "note 14 2013 allowance for credit losses the allowance for loan losses includes an asset-specific component , a formula-based component and a component related to purchased credit-impaired loans .", "the asset-specific component relates to loans considered to be impaired , which includes any loans that have been modified in a troubled debt restructuring as well as risk-rated loans that have been placed on nonaccrual status .", "an asset-specific allowance for impaired loans is established when the loan 2019s discounted cash flows ( or , when available , the loan 2019s observable market price ) is lower than the recorded investment in the loan .", "to compute the asset-specific component of the allowance , larger loans are evaluated individually , while smaller loans are evaluated as pools using historical loss experience for the respective class of assets .", "risk-rated loans ( primarily wholesale loans ) are pooled by risk rating , while scored loans ( i.e. , consumer loans ) are pooled by product type .", "the firm generally measures the asset-specific allowance as the difference between the recorded investment in the loan and the present value of the cash flows expected to be collected , dis- counted at the loan 2019s original effective interest rate .", "subsequent changes in measured impairment due to the impact of discounting are reported as an adjustment to the provision for loan losses , not as an adjustment to interest income .", "an asset-specific allowance for an impaired loan with an observable market price is measured as the difference between the recorded investment in the loan and the loan 2019s fair value .", "certain impaired loans that are determined to be collateral- dependent are charged-off to the fair value of the collateral less costs to sell .", "when collateral-dependent commercial real-estate loans are determined to be impaired , updated appraisals are typi- cally obtained and updated every six to twelve months .", "the firm also considers both borrower- and market-specific factors , which ." ]

[ [ "December 31, (in millions)", "2009", "2008" ], [ "Outstanding balance^(a)", "$103,369", "$118,180" ], [ "Carrying amount", "79,664", "88,813" ] ]

[ [ "december 31 ( in millions )", "2009", "2008" ], [ "outstanding balance ( a )", "$ 103369", "$ 118180" ], [ "carrying amount", "79664", "88813" ] ]

[]

[ "maturities of debt the scheduled maturities of the outstanding debt balances , excluding debt fair value adjustments as of december 31 , 2014 , are summarized as follows ( in millions ) : ." ]

[ "_______ interest rates , interest rate swaps and contingent debt the weighted average interest rate on all of our borrowings was 5.02% ( 5.02 % ) during 2014 and 5.08% ( 5.08 % ) during 2013 .", "information on our interest rate swaps is contained in note 13 .", "for information about our contingent debt agreements , see note 12 .", "subsequent event subsequent to december 31 , 2014 , additional ep trust i preferred securities were converted , primarily consisting of 969117 ep trust i preferred securities converted on january 14 , 2015 , into ( i ) 697473 of our class p common stock ; ( ii ) approximately $ 24 million in cash ; and ( iii ) 1066028 in warrants .", "9 .", "share-based compensation and employee benefits share-based compensation kinder morgan , inc .", "class p shares stock compensation plan for non-employee directors we have a stock compensation plan for non-employee directors , in which our eligible non-employee directors participate .", "the plan recognizes that the compensation paid to each eligible non-employee director is fixed by our board , generally annually , and that the compensation is payable in cash .", "pursuant to the plan , in lieu of receiving some or all of the cash compensation , each eligible non-employee director may elect to receive shares of class p common stock .", "each election will be generally at or around the first board meeting in january of each calendar year and will be effective for the entire calendar year .", "an eligible director may make a new election each calendar year .", "the total number of shares of class p common stock authorized under the plan is 250000 .", "during 2014 , 2013 and 2012 , we made restricted class p common stock grants to our non-employee directors of 6210 , 5710 and 5520 , respectively .", "these grants were valued at time of issuance at $ 220000 , $ 210000 and $ 185000 , respectively .", "all of the restricted stock grants made to non-employee directors vest during a six-month period .", "table of contents ." ]

[ [ "Year", "Total" ], [ "2015", "$2,717" ], [ "2016", "1,684" ], [ "2017", "3,059" ], [ "2018", "2,328" ], [ "2019", "2,819" ], [ "Thereafter", "28,422" ], [ "Total", "$41,029" ] ]

[ [ "year", "total" ], [ "2015", "$ 2717" ], [ "2016", "1684" ], [ "2017", "3059" ], [ "2018", "2328" ], [ "2019", "2819" ], [ "thereafter", "28422" ], [ "total", "$ 41029" ] ]

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